FAIRFAX MEDIA  LIMITED  2013  105 NOTEs TO THE FINANCIAL sTATEMENTs  FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013 28. CONTROLLED ENTITIEs (CONTINUED) DEED OF CROSS GUARANTEE Fairfax Media Limited and certain wholly-owned entities (the ‘Closed Group’) identified at (a) above are parties to a Deed of  Cross Guarantee under ASIC Class Order 98/1418 (as amended). Pursuant to the requirements of that Class Order, a summarised  consolidated income statement for the period ended 30 June 2013 and consolidated balance sheet as at 30 June 2013,  comprising the members of the Closed Group after eliminating all transactions between members are set out below: (A) BALANCE SHEET 30June 2013 $’000 24 JUNE 2012 $’000 Current assets Cash and cash equivalents  449,780   56,029  Trade and other receivables   244,349   263,250  Inventories  25,394   31,756  Derivative assets  11,018   123  Assets held for sale  3,176   18,268  Income tax receivable  3,200   14,345  Other financial assets  4,386   3,914  Total current assets  741,303   387,685  non-current assets Receivables  19,611   258,134  Investments accounted for using the equity method  80,396   30,551  Available for sale investments  1,929   1,991  Intangible assets  1,213,572   1,637,134  Property, plant and equipment  406,958   470,352  Derivative assets  7,815   27,040  Deferred tax assets  109,159   119,635  Other financial assets  647,107   1,042,873  Total non-current assets  2,486,547   3,587,710  Total assets  3,227,850   3,975,395  Current liabilities Payables  176,052   203,475  Interest bearing liabilities  284,323   6,439  Derivative liabilities  41,957   –  Liabilities directly associated with held for sale assets  –   4,956  Provisions  175,630   180,090  Current tax liabilities  –   2,595  Total current liabilities  677,962   397,555  non-current liabilities Interest bearing liabilities  353,889   1,070,560  Derivative liabilities  26,939   89,607  Provisions  51,467   146,534  Pension liabilities  1,273   3,933  Total non-current liabilities  433,568   1,310,634  Total liabilities  1,111,530   1,708,189  net assets  2,116,320   2,267,206  equity Contributed equity  4,646,248   4,646,248  Reserves  (66,921)  (53,283) Retained losses  (2,463,007)  (2,325,759) Total equity  2,116,320   2,267,206 