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NOTES TO THE FINANCIAL STATEMENTS (CONT.)

Consolidated 2014
$’000
2015
$’000

Tax losses 3,826 -
Unused tax losses for which no deferred tax asset has been recognised 1,148 -
Potential tax benefit @ 30%

All unused tax losses were incurred by overseas subsidiaries that are not part of the Australian tax consolidated group.

Capital losses
Unused tax losses related to capital losses of $154.9 million (2014: $154.9 million) carried forward to which no deferred
tax asset has been recognised.

Income tax losses
As at 30 June 2015, the consolidated entity had carried forward income tax losses of $1.6 million (2014: $2.3 million).
These losses were recognised as a deferred tax asset for the years ended 30 June 2015 and 30 June 2014.

Tax consolidation legislation
Specialty Fashion Group Limited and its wholly-owned Australian controlled entities implemented the tax consolidation
legislation as of 1 July 2003. The accounting policy in relation to this legislation is set out in note 1.

Note 7. Current assets - cash and cash equivalents

Cash at bank and on hand Consolidated 2014
$’000
Note 8. Current assets - receivables 2015
$’000 17,123

7,144

Prepayments Consolidated 2014
Other receivables 2015 $’000
$’000
Note 9. Current assets - inventories 2,168 3,819

6,270 3,916

8,438 7,735

Inventories on hand at lower of cost and net realisable value Consolidated 2014
$’000
2015
$’000 90,348

89,055

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