The accompanying accounting policies and explanatory notes form an integral part of the financial statements. Balance sheets As at 31 December 2023 Group Company Note 2023 2022 2023 2022 Rp million Rp million Rp million Rp million Non-current assets Biological assets 13 322,454 322,743 – – Property, plant and equipment 14 17,582,357 18,135,698 18,385 21,848 Right-of-use assets 15 1,994,475 2,058,633 – – Goodwill 16 3,078,520 3,084,624 – – Claims for tax refund 17 66,291 40,847 – – Deferred tax assets 18 278,904 276,080 – – Investment in subsidiary companies 19 – – 10,707,410 10,707,410 Investment in associate companies 20 1,369,856 1,487,071 – 439,254 Investment in joint ventures 21 1,172,547 946,170 – – Amount due from a subsidiary 22 – – 316,000 759,000 Advances and prepayments 22 366,960 393,470 – – Other non-current receivables 22 941,461 968,253 15 11 Total non-current assets 27,173,825 27,713,589 11,041,810 11,927,523 Current assets Inventories 23 2,471,178 3,268,036 – – Trade and other receivables 24 858,365 1,323,662 9,553 19,300 Advances and prepayments 24 383,636 490,321 696 306 Prepaid taxes 202,960 240,588 – – Biological assets 13 764,416 769,634 – – Asset held for sale 14 37,805 37,805 – – Cash and cash equivalents 25 5,225,530 4,422,371 55,800 94,621 Total current assets 9,943,890 10,552,417 66,049 114,227 Total assets 37,117,715 38,266,006 11,107,859 12,041,750 Current liabilities Trade and other payables and accruals 26 2,037,933 2,418,587 15,122 121,781 Advances, other payables and provision 26 368,879 321,270 – – Lease liabilities 15 41,055 46,772 – – Interest-bearing loans and borrowings 27 6,943,245 6,912,271 – 218,032 Income tax payable 190,680 184,189 39,780 51 Total current liabilities 9,581,792 9,883,089 54,902 339,864 Net current assets/(liabilities) 362,098 669,328 11,147 (225,637) 64 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
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