Page 163 - Urban Renewal Authority 2023-24 Annual Report

22. Statement of Financial Position of the Authority (Continued)

(b) Statement of Changes in Equity

Accumulated
Capital surplus Total

$’000 $’000 $’000

Balance at 1 April 2022 10,000,000 43,827,477 53,827,477
Deficit and total comprehensive income
for the year – (3,529,074) (3,529,074)

Balance at 31 March 2023 10,000,000 40,298,403 50,298,403

Balance at 1 April 2023 10,000,000 40,298,403 50,298,403
Deficit and total comprehensive income
for the year – (3,919,762) (3,919,762)

Balance at 31 March 2024 10,000,000 36,378,641 46,378,641

23. Approval of financial statements

The financial statements were approved by the Board on 13 June 2024.

URA ANNUAL REPORT 2023-24 161