McConnell Dowell 2019 Annual Review

73 Annual Review 2019 Consolidated All figures are in A$ 000’s Note 2019 2018 Statement of comprehensive income The Consolidated Entity's interest in the revenue and expenses of the joint operations is: Revenue 156,279 358,556 Expenses (134,535) (332,282) Profit / (loss) before income tax 21,744 26,274 Statement of financial position extract In relation to the Consolidated Entity's interest in joint operations, the Consolidated Entity's assets (including share of assets held jointly) and liabilities (including share of liabilities held jointly) are: Cash assets 9 35,086 33,566 Current assets 27,175 50,916 Non current assets 106 - Total assets 62,367 84,482 Current liabilities 27,083 69,054 Total liabilities 27,083 69,054 Net assets 35,284 15,428 13. Asset held for sale Asset held for sale in 2018 was represented by a single vessel, being a self-elevating barge with gross tonnage of 1,197. The barge was surplus to the operational requirements of the Group and accordingly was advertised for sale. An opportunity arose in 2019 to utilise the barge in Australia and has therefore been withdrawn from being held for sale and transferred back to fixed assets. There was no cash flow impact resulting from this change. The Asset has been reclassified at the carrying amount of the asset before it was classified as held-for-sale (adjusted for depreciation). 12(a) Cash assets held in joint operations are available for use by the Group with the approval of the joint operation partners