10. FINANCIAL REPORTS

10.1.1.     PROFIT AND LOSS

For the year ended 30 June 2018
Trading Income $ $ Notes
Interest Received 163.74
Member Subscriptions 2,950.00
Miscellaneous Income 2,064.10
Sponsorship 14,141.00
Total Trading Income 19,318.84
Gross Profit   19,318.84  
Operating Expenses
Accounting 1,831.85
Bank Fees 47.30
Campaign Expenses 12,795.82
Conferences 362.73
Insurance 1,126.50
Office Expenses 950.37
Postage 603.37
Telephone 524.02
Total Operating Expenses   18,241.96  
       
Net Profit   1,076.88  

 

10.1.2.     BALANCE SHEET

As at 30 June 2018
Assets $ $ Notes
Bank
Westpac Business Max-iDirect 22,836.86
Westpac Community Solutions 38,911.51
Total Bank 61,748.37
Total Assets   61,748.37  
Liabilities
Current Liabilities
GST 79.52
Sponsorship for 2018-19 activities 5,500 [1]
Total Current Liabilities 5,579.52  
 
Non-current Liabilities  
ATO/RBA Liability 3,658.00  
GST Clearing -3,657.27  
Total Non-Current Liabilities 0.73  
Total Liabilities   5,580.25  
 
Net Assets   56,168.12  
 
Equity      
Current Year Earnings 1,076.88  
Retained Earnings 55,091.24  
Total Equity   56,168.12  

Notes

[1]           FSANZ Food Safety Week 2018 sponsorship of $5500 (including GST) to be expended in 2018-19.

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