Norwood financial results

I was having a quick look at the NFC Income & EXpenditure Statement for 2011/12. At first look, it looks like they made a combined profit of about $90,000, but there is an expenditure item of $647,598 for 'Impairment of Loan to 137 The Parade Pty Ltd, changing the normal result to a loss of about $556,000.

I couldn't see a Balance Sheet, so I can only guess that they were owed this amount by the Pty Ltd Coy and have decided to write it off as uncollectable. That could be verified or otherwise by the Notes to the Accounts and the Balance Sheet (also without knowing who controls the Pty Ltd Coy).

This is a major amount, so do any of the Norwood people here know anything more?