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Note

2009 $’000

2008 $’000

2009 $’000

2008 $’000

(b) (b)

1 21

21

22

21

Notes to the Financial Statements

For the year ended 30 June 2009

  • 28.

    RESERVES AND RETAINED EARNINGS

    • (a)

      Reserves

Foreign currency translation reserve Share-based payment reserve

Total Reserves

Consolidated

Parent

(b) Nature and purpose of reserves

Foreign currency translation reserve

The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of subsidiaries which have functional currency different to the Australian dollar. Refer to note 2(y).

Share-based payment reserve

The share-based payment reserve is used to recognise the grant date fair value of shares issued to employees. Refer to note 2(p) and 7(e) for further details of the plan.

2009

2008

2009

2008

$’000

$’000

$’000

$’000

(c) Retained earnings

Consolidated

Parent

185,198

180,720

52,590

52,343

(12,723)

11,231

6,000

7,000

(5,332)

(6,753)

(5,332)

(6,753)

Movements in retained earnings were as follows: At the beginning of the year Net (loss) / profit for the year Dividends

At the end of the year

167,143

185,198

53,258

52,590

AVJennings Limited ABN 44 004 327 771 71

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