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Notes to the Financial Statements

FOR THE YEAR ENDED 30 JUNE 2015

30 Jun 15

30 Jun 14

$’000

$’000

NOTE 9

INTEREST BEARING LIABILITIES

Non current

Finance lease

69

114

Loans payable – secured (i)

209,900

206,200

209,969

206,314

(i) The Trust has a $230 million floating interest rate facility. Drawings under this facility are secured by a registered mortgage over the Trust’s

interest in Westfield Carindale and a fixed and floating charge over all assets and undertakings of the Trust. The facility is subject to negative

pledge arrangements and matures in the second half of calendar year 2018.

The maturity profile in respect of the above liabilities:

Due within one year

2

1

Due between one and five years

209,912

206,204

Due after five years

55

109

209,969

206,314

NOTE 10

DERIVATIVE LIABILITIES

Current – Payables on interest rate derivatives

38

1,111

Non current – Payables on interest rate derivatives

6,182

6,517

The Trust presents the fair value of its derivative assets and derivative liabilities on a gross basis. However, certain derivative assets and

liabilities are subject to legally enforceable master netting arrangements within the secured financing facilities. As at 30 June 2015, these

netting arrangements have no impact on the derivative liabilities disclosed above (30 June 2014: nil).

30 Jun 15

30 Jun 14

Units

Units

NOTE 11

TRUST UNITS

Number of fully paid up units on issue

Balance at the beginning and end of the period

70,000,000

70,000,000

30 Jun 15

30 Jun 14

$’000

$’000

NOTE 12

RETAINED PROFITS

Balance at the beginning of the year

313,746

263,653

Net profit attributable to members of the Trust

55,645

71,840

Distribution paid/payable to members of the Trust

(24,479)

(21,700)

Other reserves

(3)

(47)

Balance at the end of the year

344,909

313,746

NOTE 13

CASH AND CASH EQUIVALENTS

(i) Components of cash and cash equivalents

Cash

3,063

3,437

Total cash and cash equivalents

3,063

3,437

(ii) Reconciliation of cash flows from operating activities to net profit

attributable to members of the Trust

Net cash flows from operating activities

37,533

36,135

Property revaluation

30,970

49,104

Financing costs

(13,164)

(13,851)

Net fair value gain on interest rate derivatives

1,408

2,265

Interest received

91

122

Decrease in other net assets attributable to operating activities

(1,193)

(1,935)

Net profit attributable to members of the Trust

55,645

71,840

18 / Carindale Property Trust

Annual Report 2015