40. PRIOR YEAR ADJUSTMENTS (CONTINUED) Consolidated Statement of Financial Position As at 30 September 2023 As previously reported Adjustments Balance as restated S$’000 S$’000 S$’000 2023 Non-current assets Property, plant and equipment 13,155 25 13,180 Right-of-use assets 6,546 90 6,636 Investment in associates 9,690 36,415 46,105 Financial assets at FVTOCI 32,432 (29,957) 2,475 Financial assets at FVTPL 19,610 (19,610) – Current assets Trade and other receivables 64,919 2,795 67,714 Contract assets 22,122 225 22,347 Cash and bank balances 9,816 1,944 11,760 Equity Fair value reserve 23,999 (52,191) (28,192) Retained earnings (68,090) 65,343 (2,747) Non-current liabilities Trade and other payables (12,750) (3,651) (16,401) Lease liabilities (4,558) (91) (4,649) Current liabilities Trade and other payables (53,456) (8,264) (61,720) Provisions (19,894) 6,927 (12,967) Consolidated Statement of Cash Flows For the financial year ended 30 September 2023 As previously reported Adjustments Balance as restated S$’000 S$’000 S$’000 2023 Operating activities Loss before income tax (50,236) (412) (50,648) Loss allowance – Trade and other receivables 1,229 (567) 662 Impairment loss on investment in a joint venture 1,740 (1,740) – Fair value change on FVTPL 196 (196) – Depreciation of properties, plant and equipment 2,380 4 2,384 Depreciation of right of use asset 2,457 56 2,513 Interest expense 4,091 2 4,093 Decrease in: – Provision for onerous contract (6,710) 2,454 (4,256) Share of results of associates 7,754 608 8,362 Share of results of joint ventures 4,784 (5,084) (300) Changes in working capital: Trade and other receivables 8,580 116 8,696 Contract assets 17,943 (225) 17,718 Contract liabilities 3,085 (927) 2,158 Trade and other payables (10,142) 5,062 (5,080) Investing activities Loan to a joint venture (1,740) 1,740 – Purchase of property. plant and equipment (171) (2) (173) Financing activities Repayment of lease liabilities (2,319) (55) (2,374) Net decrease in cash and cash equivalents (9,726) 834 (8,892) Cash and cash equivalents at beginning of financial year 22,602 1,110 23,712 Cash and cash equivalents at end of financial year 12,699 1,944 14,643 138 KEONG HONG HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
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