NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2022
Note 19: Financial Risk Management (continued) Interest rate risk
The following table summarises the sensitivity of the consolidated entity to movements in interest rates by applying changes in interest rates to the average levels of financial assets and liabilities carried by the consolidated entity. The table illustrates the impact of a change in rates of 200 basis points, a level that management believes to be a reasonably possible movement.
2022 $
Sensitivity Analysis – Interest rates For every 200 basis points increase in interest rates Income Statement
(17,109)
Equity
-
For every 200 basis points decrease in interest rates Income Statement
17,109
Equity
-
Capital Risk Management The consolidated entity’s objectives when managing capital are to safeguard the ability to continue as a going concern, so that they can continue to provide services for members and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. Exchange rate risk All purchases are made in Australian dollars so there is no material direct exposure to exchange rate movements. Note 20: Parent Entity Financial Information (a) Summary financial information The individual financial statements for the parent entity show the following aggregate amounts:
2021 $
2020 $
Balance Sheet Current assets
7,512,076
8,488,622
Total assets
10,613,173
10,993,563
Current liabilities
5,952,745
6,770,522
Total liabilities
8,072,548
8,417,532
Shareholders’ equity
2,540,625
2,515,625
Total Comprehensive Income
431,442
(53,844)
There are three controlled entities of the parent entity which are all 100% owned. These are Nutrivital Pty Ltd, Go Vita Agencies Pty Ltd and H F D M Pty Ltd.
GO VITA GROUP LIMITED ANNUAL REPORT 2021-2022 I 65
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