88 All figures are in A$000's 2023 2022 Consolidated statement of financial position Current assets Cash & cash equivalents 117,839 157,203 Trade and other receivables 302,652 188,493 Total current assets 420,491 345,696 Non-current assets Property, plant and equipment 25,518 23,101 Right of use assets 21,505 8,116 Trade and other receivables 86,855 44 Investments in subsidiaries 96,012 77,334 Deferred tax assets 1,004 1,827 Related party receivable - tax consolidation 45,004 39,743 Total non-current assets 275,898 150,165 Total assets 696,389 495,861 Current liabilities Trade and other payables 381,383 269,553 Interest bearing loans and borrowings 25,050 82 Lease liability 9,445 4,392 Provisions 31,710 32,171 Total current liabilities 447,588 306,198 Non-current liabilities Trade and other payables 36,408 1,766 Lease liability 15,037 6,923 Interest bearing loans and borrowings - 11 Provisions 3,914 4,233 Total non-current liabilities 55,359 12,933 Total liabilities 502,947 319,131 Net assets 193,442 176,730 Equity Contributed equity 277,765 267,765 Reserves 18,346 8,808 Retained earnings (102,669) (99,843) Total equity 193,442 176,730 The closed group current liabilities of $460 million exceed its current assets of $433 million at 30 June 2023. This was mainly due to the classification of short term interest bearing loan of $25 million as current borrowings. Current forecast indicated that the MCD group (inclusive of oversea operations) will have sufficient cash resources for the foreseeable future to pay off the current debts. The short term debt arose as a result of the BLNG bond call, in total $43 million, which was fully expensed in the Closed Group as the Closed Group provided the funding for the bond call. Closed Group 23. Interests in subsidiaries (continued) Notes to the annual financial statements (continued) for the year ended 30 June 2023
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