 |
ANNUAL REPORT 2001
F I N A N C I A L S T A T E M E N T S
STATEMENT OF FINANCIAL PERFORMANCE
for the year ended 30 June 2001
 |
|
|
|
|
|
2001
Budget
$ |
|
|
Note |
|
2001
Actual
$ |
|
|
|
|
|
| |
Income |
| 570,000 |
|
Government grant |
|
569,778 |
| 4,000 |
|
Interest |
|
10,187 |
|
|
|
|
|
| 574,000 |
|
Total income |
|
579,965 |
|
|
|
|
|
| |
Expenditure |
| 5,000 |
|
Audit fees |
|
3,500 |
| 2,000 |
|
Auditors – other services |
|
- |
| 2,000 |
|
Communication charges |
|
1,779 |
| 113,000 |
|
Members’ fees |
2 |
|
65,657 |
| 40,000 |
|
Printing and stationery |
|
8,506 |
| 86,000 |
|
Consultants and legal |
|
81,371 |
| 90,000 |
|
Services and supplies |
|
56,937 |
| 47,000 |
|
Travel and accommodation |
|
18,880 |
| 7,000 |
|
Use of assets |
3 |
|
3,001 |
| 189,000 |
|
Securities Commission services |
|
226,871 |
|
|
|
|
|
| 581,000 |
|
Total expenditure |
|
466,502 |
|
|
|
|
|
| $(7,000) |
|
Surplus/(deficit) |
4 |
|
$113,463 |
|
|
|
|
STATEMENT OF FINANCIAL POSITION
as at 30 June 2001
|
|
|
|
|
|
2001
Budget
$ |
|
|
Note |
|
2001
Actual
$ |
|
|
|
|
|
| |
Current assets |
| 70,000 |
|
Bank |
|
3,006 |
| - |
|
Short term deposits |
|
216,163 |
| 10,000 |
|
G.S.T. receivable |
|
14,060 |
| - |
|
Sundry debtors and prepayments |
|
20,515 |
| 11,000 |
|
Prepayment for use of assets |
3 |
|
8,349 |
|
|
|
|
|
| 91,000 |
|
Total current assets |
|
262,093 |
|
|
|
|
|
| |
Non-current assets |
| 31,000 |
|
Prepayment for use of assets |
3 |
|
21,959 |
|
|
|
|
|
| $122,000 |
|
Total assets |
|
$284,052 |
|
|
|
|
|
| |
Current liabilities |
| 80,000 |
|
Creditors and accruals |
|
121,589 |
|
|
|
|
|
| 80,000 |
|
Total current liabilities |
|
121,589 |
|
|
|
|
|
| |
Equity |
| 49,000 |
|
Equity capital |
|
49,000 |
| (7,000) |
|
Accumulated funds |
|
113,463 |
|
|
|
|
|
| 42,000 |
|
Total equity |
|
162,463 |
|
|
|
|
|
| $122,000 |
|
Total equity and liabilities |
|
$284,052 |
|
|
|
|
On behalf of the Takeovers Panel:
J.C. King
CHAIRMAN
27 July 2001 |
D.M.D. Rawstorne
CHAIRMAN, AUDIT COMMITTEE
27 July 2001 |
The accompanying notes form part of these financial statements.
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