Heide Museum of Modern Art 2010 Annual Report

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13. Financial Statements STATEMENT OF FINANCIAL POSITION For the year ended 31 December 2010 ASSETS Financial Assets Heide Museum of Modern Art 2010 Annual Report Note 2010 $ 2009 $ Cash and cash equivalents 4 104,808 190,885 Trade and other receivables 5 857,885 696,482 Financial assets 6 1,162,683 1,235,400 Total Financial Assets 2,125,376 2,122,767 Non-Financial assets Inventories 7 59,475 72,044 Property, plant and equipment 8 13,422,340 13,863,064 Other current assets 9 58,157 61,228 Works of Art 9 41,138,175 40,575,148 Total Non-Financial Assets 54,678,147 54,571,484 TOTAL ASSETS 56,803,523 56,694,251 LIABILITIES Trade and other payables 10 1,422,858 1,333,062 Borrowings 11 6,418 9,179 Short-term provisions 12 119,094 105,899 Total current liabilities 1,548,370 1,448,140 TOTAL LIABILITIES 1,548,370 1,448,140 NET ASSETS 55,255,153 55,246,111 EQUITY Reserves 43,755,590 43,322,398 Accumulated surpluses 11,499,563 11,923,713 TOTAL EQUITY 55,255,153 55,246,111 54
13. Financial Statements STATEMENT OF CHANGES IN EQUITY For the year ended 31 December 2010 2010 Retained Surplus $ Asset Revaluation Surplus $ Heide Museum of Modern Art 2010 Annual Report Donated Artworks Reserve $ Financial Assets Revaluation Reserve $ Balance at 1 January 2010 11,923,713 24,381,329 18,419,134 521,935 55,246,111 Surplus from ordinary activities 81,759 – – – 81,759 Revaluation decrement – – – (72,717) (72,717) Transfers to and from reserves donated artwork reserve (505,909) – 505,909 – – Balance at 31 December 2010 11,499,563 24,381,329 18,925,043 449,218 55,255,153 2009 Retained Surplus $ Asset Revaluation Surplus $ Donated Artworks Reserve $ Financial Assets Revaluation Reserve $ Balance at 1 January 2009 10,859,034 24,401,329 17,473,634 309,826 53,043,823 Surplus from ordinary activities 1,990,179 – – – 1,990,179 Revaluation increment – – – 212,109 212,109 Transfers to and from reserves donated artwork reserve (945,500) – 945,500 – – asset revaluation reserve 20,000 (20,000) – – – Balance at 31 December 2009 11,923,713 24,381,329 18,419,134 521,935 55,246,111 Total $ Total $ 55
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Heide Museum of Modern Art 2010 Ann
Page 3 and 4:
1. Statement of Purpose & Values ST
Page 5 and 6: 3. Chairman & Director's Report 3.
Page 7 and 8: 3. Chairman & Director's Report Hei
Page 9 and 10: 4. Cultural Programming In 2010 Hei
Page 11 and 12: 4. Cultural Programming 4.1 Exhibit
Page 13 and 14: 4. Cultural Programming 4.1 Exhibit
Page 15 and 16: 4. Cultural Programming 4.2 Public
Page 17 and 18: 4. Cultural Programming 16 Art acti
Page 19 and 20: 5. Commercial Operations 5.2 VISITO
Page 21 and 22: 6. Collection 6.1 Acquisitions 6.1
Page 23 and 24: 6. Collection 2010.30 Penelope Davi
Page 25 and 26: 6. Collection 2010.60 Domenico de C
Page 27 and 28: 7. Facilities 7.2 Gardens 26 Heide
Page 29 and 30: 8. Communications & Marketing 28 Co
Page 31 and 32: 9. Graphic Design 9. GRAPHIC DESIGN
Page 33 and 34: 10. Development Heide Foundation Co
Page 35 and 36: 10. Development 10.2 2010 Partnersh
Page 37 and 38: 10. Development 10.2 2010 Partnersh
Page 39 and 40: 11. Governance 11.1 Board 11.1 BOAR
Page 41 and 42: 11. Governance 11.2 Heide Board Sub
Page 43 and 44: 11. Governance 11.3 Board Directors
Page 45 and 46: 12. Staff & Volunteers Visitor Serv
Page 47 and 48: 12. Staff & Volunteers 33 guests at
Page 49 and 50: 13. Financial Statements 13. FINANC
Page 51 and 52: 13. Financial Statements Informatio
Page 53 and 54: 13. Financial Statements Members’
Page 55: 13. Financial Statements STATEMENT
Page 59 and 60: 14. Notes to the Financial Statemen
Page 79 and 80: Directors’ Declaration DIRECTORS
Page 81: Independent Audit Report Independen
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Heide Museum of Modern Art 2010 Annual Report

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