40. PRIOR YEAR ADJUSTMENTS (CONTINUED) Summary of the accounts for the financial year ended 30 September 2023 and 2022 consolidated financial statements before and after the restatement are as follows: Consolidated Statement of Profit or Loss and Other Comprehensive Income For the financial year ended 30 September 2023 As previously reported Adjustment Restated S$’000 S$’000 S$’000 2023 Revenue 176,020 23,769 199,789 Cost of sales (195,961) (30,194) (226,155) Administrative expenses (18,230) (768) (18,998) Reversal/(Loss) allowance on trade and other receivables (1,229) 567 (662) Finance costs (4,091) (2) (4,093) Other expenses (3,486) 1,740 (1,746) Share of results of joint ventures, net of tax (4,784) 5,084 300 Share of results of associates, net of tax (7,754) (608) (8,362) Share of other comprehensive loss of an associate – (709) (709) Fair value gain on financial assets at FVTOCI 1,290 (1,230) 60 Consolidated Statement of Financial Position As at 30 September 2022 As previously reported Adjustments Balance as restated S$’000 S$’000 S$’000 2022 Non-current assets Property, plant and equipment 15,113 27 15,140 Right-of-use assets 6,759 46 6,805 Investment in associates 27,618 37,733 65,351 Financial assets at FVTOCI 31,142 (28,727) 2,415 Financial assets at FVTPL 19,806 (19,806) – Current assets Trade and other receivables 93,214 2,344 95,558 Cash and bank balances 18,987 1,110 20,097 Equity Fair value reserve 25,289 (54,130) (28,841) Retained earnings (117,578) 64,931 (52,647) Non-current liabilities Trade and other payables (12,750) (1,894) (14,644) Lease liabilities (4,942) (18) (4,960) Current liabilities Contract liabilities (70) (927) (997) Trade and other payables (65,792) (4,957) (70,749) Lease liabilities (1,965) (28) (1,993) Provisions (20,239) 4,297 (15,942) 137 ANNUAL REPORT 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
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