In financial accounting, a balance sheet is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.
HiTech Group Australia Limited Balance Sheet Statement - Assets
As of 30 Jun 2024, The total current assets of HiTech Group Australia Limited (ASX:HIT) was around $15,035,841 which consisted of $12,106,261 of Cash, no Inventory and $2,859,269 of Net receivables. Current assets represent all the assets of a company that are expected to be conveniently sold, consumed, used, or exhausted through standard business operations within one year.
All amounts in AUD
The latest balance sheet of HiTech Group Australia Limited also showed $1,496,927 of Property Plant Equipment and no Good will. Also there were no Intangible assets and no Other assets. The total assets including current and Intangibles/Deferred Long Term Asset Charges were $17,271,225.
HiTech Group Australia Limited Balance Sheet Statement - Liabilities
HIT's latest annual results shows the balance sheet has $675,797 of Accounts Payable. Also there were $1,351,675 of Short/Long term debt, no Long term debt, $208,845 of Other Current liabilities and $7,620,456 of Total Current Liabilities. Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle.
As per the 30 Jun 2024's annual report of HiTech Group Australia Limited, the total liabilities were $7,853,045.
HIT Balance Sheet Statement - Stock Holder Equity
Stockholders' equity, also referred to as shareholders' equity, is the remaining amount of assets available to shareholders after all liabilities have been paid. It is calculated either as a firm's total assets less its total liabilities or alternatively as the sum of share capital and retained earnings less treasury shares. Stockholders' equity might include common stock, paid-in capital, retained earnings and treasury stock.
The latest Balance sheet of HiTech Group Australia Limited showed the total stock holder equity was $9,418,180 which consisted of $4,450,713 of Common stocks, $4,781,829 of Retained earnings and no Other stock holder equity.
HIT Balance Sheet Statement History
Following table shows the history of balance sheet for HiTech Group Australia Limited (HIT).
| 30 Jun 2024 | 30 Jun 2023 | 30 Jun 2022 | 30 Jun 2021 | |
|---|---|---|---|---|
| Cash | 12,106,261 | 10,583,253 | 11,563,993 | 8,162,619 |
| Net Receivables | 2,859,269 | 1,176,515 | 2,049,224 | 3,443,031 |
| Inventory | - | - | - | - |
| Total Current Assets | 15,035,841 | 11,813,090 | 13,739,167 | 11,732,928 |
| Property Plant Equipment | 1,496,927 | 2,805,574 | 529,806 | 586,377 |
| Good Will | - | - | - | - |
| Intangible Assets | - | - | - | - |
| Other Assets | - | - | - | - |
| Deferred Long Term Asset Charges | - | - | - | - |
| Total Assets | 17,271,225 | 15,359,586 | 14,589,373 | 12,718,565 |
| Accounts Payable | 675,797 | 505,133 | 928,700 | 315,835 |
| Short/Long Term Debt | 1,351,675 | 2,424,446 | 148,571 | 250,473 |
| Other Current Liabilities | 208,845 | 45,860 | - | -200 |
| Long Term Debt | - | - | - | - |
| Other Liabilities | - | - | - | - |
| Total Current Liabilities | 7,620,456 | 5,407,466 | 5,511,087 | 4,654,358 |
| Total Liabilities | 7,853,045 | 7,752,864 | 5,542,199 | 4,785,651 |
| Common Stock | 4,450,713 | 4,450,713 | 4,450,713 | 3,738,213 |
| Retained Earnings | 4,781,829 | 2,970,371 | 2,796,393 | 2,395,265 |
| Treasury Stock | - | - | - | - |
| Other Stockholder Equity | - | - | - | - |
| Total Stockholder Equity | 9,418,180 | 7,606,722 | 7,432,744 | 6,319,116 |
| Net Tangible Assets | 9,418,180 | 7,606,722 | 7,432,744 | 6,319,116 |
HiTech Group Australia Limited (ASX:HIT) Balance Sheet Statement FAQ
1. How much Cash HiTech Group Australia Limited has on their balance sheet?
As of 30 Jun 2024, HiTech Group Australia Limited (ASX:HIT) has $12,106,261 of Cash.
2. What's the long term debt of HiTech Group Australia Limited?
As per the latest Balance sheet of HiTech Group Australia Limited (ASX:HIT), it has no Long term debt.
3. How much share holder equity does HiTech Group Australia Limited has?
The HiTech Group Australia Limited (ASX:HIT)'s balance sheet shows that it has $9,418,180 of Total stock holder equity.