Analysis and interpretation of financial statements and Segment Reporting
No 1 Choice is a large regional supermarket group that operates in all states of Australia. Its business model is similar to Coles and Woolworths. The following tables show the information from the company's financial statements and the segmentation note to its financial statement.
No1 Choice Limited
Consolidated Statement of Profit or Loss and other Comprenesive income
for the year ended 30 June 2023
	2023	2022
	$'000	$'000
Sales revenue	13,123	12,862
Other revenue	126	123
Total revenue	13,249	12,985
Cost of Sales	-9,737	-9,591
Gross profit	3,512	3,394
Other income	32	29
Administration expense	-2,919	-2,797
Share of net loss from equity accounted investments	-3	-2
Earnings before interest and tax (EBIT)	622	624
Finance costs	-132	-142
Profit before income tax	490	482
Income tax expense	-142	-147
Profit	348	335
Profit attributable to:
Equity holders of the parent entity	313	302
Non-controlling interest	35	33
Other comprehensive income
Cah flow hedges	10	-3
Income tx effect	-3	1
Total other comprehensive income	7	-2
Total comprehensive income attributable to
Equity holders of the parent entity	319	300
Non-controlling interest	36	33
Total comprehensive income	355	333
No 1 Choice Limited
Consolidated Statement of Financial Position
as at 30 June 2023
	2023	2022	2021
	$'000	$'000	$'000
Assets
Current assets
Cash	196	262
Trade receivables	125	102	101
Other receivables	32	21	43
Inventories	816	702	688
Other assets	81	58
Total current assets	1,250	1,145
Non-current assets
Property, plant and equipment	1,602	1,488
Right-of-use assets	2,400	2,429
Intangible assets	621	566
Equity accounted investments	73	73
Other assets	332	340
Total non-current assets	5,028	4,896
Total assets	6,278	6,041	6,116
Liabilities
Current liabilities
Trade and other payables	1,445	1,220
Provisions	285	317
Income tax payable		20
Lease liabilities	304	299
Other liabilities	104	84
Total current liabilities	2,138	1,940
Non-current liabilities
Interest bearing liabilities	365	381
Provisions and other liabilities	145	164
Lease liability	2,589	2,619
Total non-current liabilities	3,099	3,164
Total liabilities	5,237	5,104	5,245
Net assets	1,041	937
Equity
Contributed equity	545	528
Reserves	32	23
Retained earnings	464	386
Total equity	1,041	937	872
Extract from the Segment Reporting note
	Supermarkets	Liquor		Fuel outlets	Other		Consolidated
	2023	2022	2023	2022	2023	2022	2023	2022	2023	2022
	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000
Sales revenue	11,541	11,289	1,205	1,175	377	398			13,123	12,862
Segment EBIT	571	567	54	55	14	22	-17	-20	622	624
Financing costs									-132	-142
Profit before income tax									490	482
Income tax expense									-142	-147
Profit for the period									348	335
Share of net loss from equity accounted investments included in EBIT									-3	-2