As at 31 March 2023 31 March 2022 Total non-current liabilities 77.00 104.56 Current liabilities Financial liabilities (i) Borrowings 46.66 28.37 (ia) Lease liabilities 1.09 0.99 (ii) Trade payables 11.03 6.91 (iii) Other fi nancial liabilities 10.04 7.89 Other liabilities 0.74 0.63 Provisions 1.71 2.36 Total current liabilities 71.27 47.15 Net assets 278.68 338.63 (ii) Summarised Statement of Profit and Loss For the year ended 31 March 2023 31 March 2022 Total income 31.31 16.82 Expenses Cost of materials consumed 44.08 15.33 Changes in inventories of fi nished goods (0.28) (0.04) Employee benefi ts expense 47.01 38.33 Other expenses 75.62 48.74 Others 36.16 35.14 Total expenses 202.59 137.50 Loss before tax (171.28) (120.68) Tax expense - - Loss for the year (171.28) (120.68) Other comprehensive income for the year 0.83 - Total comprehensive loss for the year (170.45) (120.68) (c) Reconciliation of carrying amounts As at 31 March 2023 31 March 2022 Opening net assets 338.63 249.51 Equity shares issued during the year 110.00 209.30 Loss for the year (170.45) (120.68) Other adjustments made directly to equity 0.50 0.50 Closing net assets 278.68 338.63 Group’s share in % 50.00% 50.00% Group’s share in closing net assets 139.34 169.32 Other adjustments 4.80 4.55 Carrying amount (refer note 9) 144.14 173.87 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Heritage Foods Limited | 31st Annual report 2022-23 306
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