Annual Report for the year ended 30 June 2011

STATEMENT OF COMPREHENSIVE INCOME
for the year ended 30 June 2011

Budget
2011
$		       Actual
2011
$		   Actual
2010
$
  Revenue - operating Note        
1,494,000 Government grant - baseline funding     1,494,000   1,494,000
16,531 Interest 12   20,759 13,479
350,325 Application fees and costs recoverable 5 171,849 436,712
11,349 Other income     11,758   10,852
1,872,205 Total operating income 1,698,366 1,955,043
Revenue - litigation fund
0 Government grant     0 0
38,196 Interest 12, 4 33,724 31,264
38,196 Total litigation fund income 33,724 31,264
             
$1,910,401 Total income $1,732,090 $1,986,307
 
Operating expenditure
12,015 Audit fees 20,500 16,512
57,352 Communication charges 33,975 58,112
20,291 Training and memberships 25,085 17,318
67,913 Depreciation and amortisation 61,435 51,580
245,562 Members' fees 23 220,582 234,483
82,428 Printing and stationery 29,414 46,503
134,774 Consultants and legal 35,215 111,452
116,992 Services and supplies 278,301 135,180
131,616 Rent 131,610   109,675
30,037 Travel and accommodation   37,255 27,817
892,862 Personnel costs 11 856,759 863,339
0 Securities Commission services 3 0 80,527
1,791,842 Total operating expenditure 1,730,131 1,752,498
20,000 Expenditure - litigation fund 4 92,358 9,849
1,811,842 Total expenditure 1,822,489 1,762,347
$98,559 Net Surplus/Deficit $(90,399) $223,960
0 Other comprehensive income     0   0
$98,559 Total comprehensive income     $(90,399)   $223,960
             
  This is comprised of:      
80,363 Comprehensive income -operating /(deficit) (31,765)   202,545
18,196 Comprehensive income -litigation / (deficit) 4 (58,634)   21,415
$98,559       $(90,399)   $223,960

The Statement of Accounting Policies and Notes form an integral part of, and should be read in conjunction with, these financial statements.

 



STATEMENT OF FINANCIAL POSITION
as at 30 June 2011

Budget
2011
$		       Actual
2011
$		   Actual
2010
$		  
  Current assets Note          
491,394 Cash and cash equivalents - operations     373,478   227,452  
511,997 Cash and cash equivalents - litigation fund 4   346,704   29,056  
122,807 Term deposits - operations     186,530   180,495  
316,543 Term deposits - litigation fund 4   423,934   796,603  
816 Interest receivable - operating     2,983   867  
5,618 Interest receivable - litigation fund 4   9,107   8,568  
68,616 Trade and other receivables 13   49,424   234,986  
0 Prepayments     43,351   32,007  
0 GST receivable 15,827 0
$1,517,791 Total current assets     $1,451,338   $1,510,034  
  Non-current assets
86,970 Property, plant and equipment 14   86,851   134,424  
13,699 Software 15   4,387   13,015  
100,669 Total non-current assets 91,238 147,439  
$1,618,460 Total assets $1,542,576 $1,657,473
  Current liabilities        
51,640 Trade and other payables 17 115,732 79,794
60,081 Employee entitlements 16 31,905 74,775
2,852 GST payable 0 17,566
$114,573 Total current liabilities $147,637 $172,135
  Equity        
669,729 Operating funds 629,195 660,960
834,158 Litigation fund 4 765,744 824,378
$1,503,887 Total equity $1,394,939 $1,485,338
$1,618,460 Total equity and liabilities $1,542,576 $1,657,473

The Statement of Accounting Policies and Notes form an integral part of, and should be read in conjunction with, these financial statements.