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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF FINANCIAL POSITIONAS AT 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)31 DecemberNotes 2018 2017 $ $Equity and liabilities EquityStated capital 13 27,288 27,288Treasury shares 13 (1,554) (1,460)Other reserves 13 270 776Retained earnings 224,620 251,514 250,624 278,118Non%u2013current liabilitiesBorrowings 14 606 1,082Employee benefts obligation 7 5,581 4,396Deferred tax liabilities 8 44,496 43,635 50,683 49,113Current liabilitiesCurrent portion of borrowings 14 476 455Trade and other payables 15 25,786 27,091Taxation payable 5 %u2013 26,267 27,546TOTAL EQUITY AND LIABILITIES 327,574 354,777The accompanying notes form an integral part of these consolidated fnancial statements.These consolidated fnancial statements were authorised for issue by the Board of Directors on 18 March 2019 and signed on their behalf by:: Director : Director34 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2018