Annual Report 2010/11 - Australian Water Polo Inc

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Notes to the financial statements 2011 2010 Note 4: CASH & CASH EQUIVALENTS $ $ Cash at Bank 614,264 403,398 US Dollar Foreign Currency Account 101,689 110,304 715,953 513,702 The Association operates a US Dollar Foreign Currency account to hold competition prize money paid by FINA and to pay expenses incurred in FINA international competitions. The operation of the account removes the uncertainty of fluctuations between the US dollar and Australian dollar. The amount $101,689 appearing in the statement of financial position is the accumulated value of the transactions at the currency rate applying at the time of each transaction. At balance date the amount held in the foreign currency account was $USD 109,204 and at the conversion rate as at 30 June 2011 its value was $AUD 101,689. 2011 2010 Note 5: TRADE AND OTHER RECEIVABLES $ $ Current: Trade Receivables 411,595 329,372 Provision for impairment (31,622) (15,000) Other Receivables-FINA 55,000 - Other Receivables -Sponsorship 48,886 29,917 Other Receivables - Staff Advance 31,935 27,715 Other Receivables-Sundry 36,282 - 552,076 372,004 (a) Trade Receivables -Aged Analysis 0-30 days 298,213 31-60 days 3,126 61-90 days 31,970 91+ days 78,286 411,595 2011 2010 Note 6: INVENTORIES $ $ Current: At Cost 170,720 182,220 170,720 182,220 48 | Australian Water Polo 2010/11 Annual Report
Notes to the financial statements 2011 2010 Note 7: OTHER $ $ Current: Prepayments 159,477 159,449 159,477 159,449 2011 2010 Note 8: PLANT AND EQUIPMENT $ $ Gross Carrying Amount 56,147 54,547 Less: Accumulated Depreciation (41,661) (25,567) Net Carrying Amount 14,486 28,980 2011 2010 Note 9: TRADE AND OTHER PAYABLES $ $ Current: Creditors 129,256 275,357 Accruals 38,043 8,415 167,299 283,772 2011 2010 Note 10: OTHER LIABILITIES $ $ Current: Income Received in Advance- Australian Sports Commission 296,250 - Income Received in Advance- Other 64,500 71,453 360,750 71,453 2011 2010 Note 11: PROVISIONS $ $ Current: Employee Entitlements - Annual Leave 121,173 99,784 - Long Service Leave 32,857 38,725 154,030 138,509 Non Current : Employee Entitlements - Annual Leave 34,394 - - Long Service Leave 7,818 - 42,212 - Australian Water Polo 2010/11 Annual Report | 49
Page 1: Annual Report 2010/11
Page 4 and 5: Office Bearers 2010/11 Honorary Off
Page 6 and 7: Message from the Australian Sports
Page 8 and 9: Chief Executive Officer’s Report
Page 10 and 11: The Women’s High Performance Prog
Page 12 and 13: National Development Report Nationa
Page 14 and 15: National League Report The 2011 sea
Page 16 and 17: A feature of the competition was th
Page 18 and 19: State associations, for aligning th
Page 20 and 21: Senior Women’s Report After our v
Page 22 and 23: Born 93’s The 12 month period fro
Page 24 and 25: Hall of Fame Dinner 2011 The 3rd An
Page 26 and 27: Athletes’ Commission Report The A
Page 28 and 29: National Capitation 2011 senior jun
Page 30 and 31: National Championship Results 2010/
Page 32 and 33: Senior Men European Tour, June 2011
Page 34 and 35: senior women International Series w
Page 36 and 37: orn ‘93 Pythia Cup, Itea, Greece,
Page 38 and 39: Independent Auditor’s Report 38 |
Page 40 and 41: Statement of Comprehensive Income F
Page 42 and 43: Statement of Changes in Equity For
Page 44 and 45: Notes to and forming part of the ac
Page 46 and 47: Notes to the financial statements 2
Page 50 and 51: Notes to the financial statements N
Page 52: Australian Water Polo Inc ABN 27 82

Annual Report 2010/11 - Australian Water Polo Inc

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