Annual Report 10/11 - Campus Living Villages

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Campus Living Villages Annual Report 10/11 Campus Living Villages Fund campus living villages fund Directors’ Report ............................................................................................................................................................. 2 Auditor’s Independence Declaration ................................................................................................................. 12 Consolidated Statement of Comprehensive Income .................................................................................. 13 Consolidated Statement of Changes in Equity .............................................................................................. 14 Consolidated Balance Sheet .................................................................................................................................... 15 Consolidated Cash Flow Statement .................................................................................................................... 16 Notes to the Consolidated Financial Statements ......................................................................................... 17 Directors’ Declaration ................................................................................................................................................ 49 Independent Auditor’s Report................................................................................................................................ 50 Corporate Directory ..................................................................................................................................................... 51 Campus Living Land Trust (USA) ARSN: 122 414 073 Financial report for the year ended 30 June 2011 The financial report was authorised for issue by the Directors on 6 September 2011. The Directors have the power to amend and reissue the financial report. Campus Living Land Trust (USA) is domiciled in Australia. The registered office of Campus Living Funds Management, the responsible entity, is: Campus Living Funds Management Limited Pier 8/9, 23 Hickson Road, Walsh Bay Sydney NSW 2000, Australia P +61 2 9037 7100
Campus Living Villages Annual Report 10/11 Campus Living Villages Fund DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2011 Introduction The Directors of Campus Living Funds Management Limited (‘‘CLFM’’) as the Responsible Entity (‘‘RE’’) of the Campus Living Villages Fund (‘‘the Fund’’) present their report on the Fund consisting of CLLT (USA), other trusts within the stapled group and their subsidiaries for the year ended 30 June 2011. Fund structure and formation The Fund is a stapled arrangement of four trusts and their controlled subsidiaries , which was established on 9 January 2007. The four trusts are Campus Living Land Trust (USA) (‘‘CLLT (USA)’’) which is the parent entity, Campus Living Finance Trust (‘‘CLFT’’), Campus Living Australia Trust (‘‘CLAT’’) and Campus Living Overseas Trust (‘‘CLOT’’). The units of the four trusts forming the Fund can only be purchased or sold in its current stapled arrangement. Directors The following persons are the Directors of CLFM and were in office during the whole of the financial year and up to the date of this report, except where otherwise stated: Professor John Niland AC Luca Belgiorno-Nettis (appointed 29 November 2010) Professor Steve Burdon Walter Carpenter Nicholas James Gayle Tollifson Principal activities The principal business activities of the Fund are to provide accommodation to students through owned and managed facilities and project management and development of new facilities, some of which will be owned by the Fund. These businesses are located in United States of America (‘‘US’’), Australia, New Zealand (‘‘NZ’’) and the United Kingdom (‘‘UK’’). Distributions The Fund declared the following distributions: 2011 financial year Date Amount Cents per unit 15 June 2011 $7,000,000 0.98 Total $7,000,000 2010 financial year Date Amount Cents per unit 28 September 2009 $1,000,204 0.30 18 December 2009 $999,743 0.24 31 March 2010 $3,999,748 0.97 29 June 2010 $10,099,966 2.44 Total $16,099,661 2
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