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23CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAS AT 31 DECEMBER 2012(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)Notes 2012 2011Assets $ $Non-current assetsProperty, plant and equipment 3 95,534 99,225Intangible assets 4 9,473 9,473Employee benefits asset 5 85,459 80,211Deferred tax asset 6 1,141 1,036 191,607 189,945Current assetsInventories 7 7,913 8,613Trade and other receivables 8 38,029 36,644Investments at fair value throughstatement of comprehensive income 9 3,724 3,504Taxation recoverable 188 188Cash and short-term deposits 10 127,413 110,840 177,267 159,789Total assets 368,874 349,734Equity and liabilitiesEquityStated capital 11 27,288 27,288Treasury shares 11 (1,531) (1,573)Retained earnings 258,450 242,659 284,207 268,374Non-current liabilitiesBorrowings 12 15,692 24,742Employee benefits obligation 5 4,565 4,145Deferred tax liability 6 31,509 28,084 51,766 56,971The accompanying notes form an integral part of these financial statements.Guardian_Media_Annual_Report2012.indd 23 4/17/13 7:31 PM