Annual Report 2004 – 2005 - pilch

Statement of financial position as at 30 June 2005
Statement of Cash Flows for the year ended
30 June 2005
Assets Notes 2005 2004
Current assets $ $
Cash at Bank: PILCH Account 168,942 188,883
Cash at Bank: LIV Account 32,507 47,949
Cash at Bank: Term Deposit 100,000
Cash on hand 140 100
Accounts receivable 44,558 29,814
Prepayments 3,400 3,774
Total current assets 349,548 270,520
Non-Current assets
Fixed Assets
Equipment & Furniture 2 24,661 23,356
less Prov. for Depreciation -5,219 -2,807
Computers 2 28,237 23,873
less Prov. for Depreciation -16,587 -8,659
Total current assets 31,092 35,763
Total Assets 380,640 306,283
Less Liabilities
Current liabilities
Accounts payable 18,058 18,542
PAYG Withholding Tax & GST 41,889 34,045
Provision for Annual Leave 27,356 16,990
Unspent funds: Homeless Persons’ Legal Clinic 18,492 4,352
Unspent funds: LIV Legal Assistance Scheme 11,890 8,949
Unspent funds: Vic Bar Legal Assistance Scheme 26,800 27,863
Total current liabilities 144,484 110,741
Non-Current liabilities
Provision for Long Service 3 20,925 14,127
Total non-current liabilities 20,925 14,127
Total liabilities 165,409 124,868
Net Assets 215,231 181,415
Accumulated Funds
Balance 1 July 2004 181,415 166,690
Surplus (Deficit) for year 33,816 14,725
Balance 30 June 2005 215,231 181,415
Notes 2004-05 2003-04
$ $
Inflows Inflows
(Outflows) (Outflows)
Cash flows from operating activities
Receipts from membership & donations 277,042 188,393
Receipts from government grants - recurrent 76,875 156,156
Receipts from other sources 380,271 93,486
Interest received 12,198 9,686
Payments to suppliers and employees (676,061) (452,437)
Net cash provided by operating activities 2 70,325 (4,717)
Cash flows from investing activities
Payment for purchase of computers and equipment (5,669) (15,376)
Net cash used in investing activities (5,669) (15,376)
Net increase (decrease) in cash held 64,657 (20,093)
Cash at beginning of the financial year 236,933 257,026
Cash at end of the period 1 301,589 236,933
The accompanying notes form part of this statement.
Notes to the Statement of Cash Flows
1. Reconciliation of Cash
For the purpose of the statement of cash flows, cash includes
cash on hand, cash at bank.
Cash at the end of the financial year as shown in the
Statement of Cash Flows is
reconciled to the related items in the balance sheet as follows:
2004-05 2003-04
$ $
Cash on hand 140 100
Cash at bank 301,450 236,832
301,589 236,933
2. Reconciliation of Net Cash used in Operating Activities
to Operating Result
2004-05 2003-04
$ $
Operating result 49,834 (44,466)
Depreciation 10,339 8,100
Increase in Sundry Creditors 7,359 19,070
Increase in Provision 17,164 9,341
(Increase) Decrease in Accounts Receivable (14,745) 7,012
(Increase) Decrease in Prepayments 374 (3,774)
Net Cash provided by Operating Activities 70,325 (4,717)
3. Tax Status
The activities of the entity are exempt from taxation.
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