| STATEMENT OF SURPLUS OR DEFICIT AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2015 | ||||
| 2015 | 2014 | |||
| $ | $ | |||
| REVENUE | Franked dividends | 4,226,022 | 3,681,962 | |
| Unfranked dividends | 476,799 | 315,908 | ||
| Imputation credits on dividends | 1,811,152 | 1,244,051 | ||
| Managed fund distributions | 933,999 | 322,707 | ||
| Interest income | 446,290 | 495,083 | ||
| Other income | 87,669 | 80,206 | ||
| 7,981,931 | 6,139,917 | |||
| EXPENSES | Employee and trustee benefits | (887,418) | (682,571) | |
| Depreciation and amortisation | (98,508) | (88,922) | ||
| Impairment of building1 | – | (296,250) | ||
| Legal expenses | (123,154) | (51,699) | ||
| Other operating expenses | (278,824) | (353,357) | ||
| (1,387,904) | (1,472,799) | |||
| OPERATING SURPLUS | 6,594,027 | 4,667,118 | ||
| Net grants approved during year2 | (4,892,706) | (6,131,277) | ||
| SURPLUS / (DEFICIT) FOR YEAR | 1,701,321 | (1,464,159) | ||
| Other comprehensive income | Change in fair value of investments | 1,804,522 | 10,213,991 | |
| TOTAL COMPREHENSIVE INCOME | 3,505,843 | 8,749,832 | ||
| Attributable to Capital Account | 3,618,325 | 9,550,942 | ||
| Attributable to Income Account | (112,482) | (801,110) | ||
| 3,505,843 | 8,749,832 | |||
1 An independent valuation of 27 Windsor Place led to a write down of the building.2 Includes withdrawn grants amounting to $176,686 (2014: $92,115). |
||||
| STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2015 | ||||||
| 2015 | 2014 | |||||
| $ | $ | |||||
| CURRENT ASSETS | Cash and cash equivalents | 9,988,524 | 9,316,036 | |||
| Trade and other receivables | 3,550,763 | 3,195,363 | ||||
| 13,539,287 | 12,511,399 | |||||
| NON-CURRENT ASSETS | Investments in financial assets | 97,826,406 | 96,398,263 | |||
| Property plant and equipment | 2,602,399 | 2,660,186 | ||||
| Intangibles | 46,427 | 64,823 | ||||
| 100,475,232 | 99,123,272 | |||||
| TOTAL ASSETS | 114,014,519 | 111,634,671 | ||||
| CURRENT LIABILITIES | Trade and other payables | 61,510 | 747,353 | |||
| Grants approved but unpaid | 5,480,052 | 5,934,541 | ||||
| Employee benefits | 32,566 | 22,984 | ||||
| 5,574,128 | 6,704,878 | |||||
| NON-CURRENT LIABILITIES | Employee benefits | 5,991 | 1,236 | |||
| 5,991 | 1,236 | |||||
| TOTAL LIABILITIES | 5,580,119 | 6,706,114 | ||||
| NET ASSETS | 108,434,400 | 104,928,557 | ||||
| ATTRIBUTABLE TO: | ||||||
| – CAPITAL ACCOUNT | Capital profits reserve | 88,116,650 | 84,606,701 | |||
| Investments revaluation reserve | 16,418,333 | 15,609,957 | ||||
| 104,534,983 | 100,216,658 | |||||
| – INCOME ACCOUNT | Retained surplus | 3,770,183 | 4,409,935 | |||
| Investments revaluation reserve | 129,234 | 301,964 | ||||
| 3,899,417 | 4,711,899 | |||||
| TOTAL ACCUMULATED FUNDS | 108,434,400 | 104,928,557 | ||||
Download 2015 Financial Summary PDF