Untitled - Cerebral Palsy League

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NOTE 28 ECONOMIC DEPENDENCY The League receives a significant portion of its operating revenue in the form of grants from the Queensland State Government and the Commonwealth Government of Australia. NOTE 29 FINANCIAL INSTRUMENTS (a) Interest Rate Risk The League’s exposure to interest rate risk and the effective interest rate for income earning financial assets and interest bearing financial liabilities is set out below: Note 6 months or less 6-12 months or 1–2 years 2-5 years More than 5 years Total Effective $ less $ $ $ $ Interest 2007 Financial Assets Cash and cash equivalents 8 3,077,834 - - - - 3,077,834 6% 3,077,834 - - - - 3,077,834 Financial Liabilities Interest Bearing Liabilities 19 939,638 3,036,589 208,990 - - 4,185,217 8.75% 939,638 3,036,589 208,990 - - 4,185,217 Cerebral Palsy League of Queensland ( 22 ) Note 6 months or less 6-12 months or 1–2 years 2-5 years More than 5 years Total Effective $ less $ $ $ $ Interest 2006 Financial Assets Cash and cash equivalents 8 522,235 - - - - 522,235 5.2% 522,235 - - - - 522,235 Financial Liabilities Interest Bearing Liabilities 19 - 3,822,453 - - - 7.93% - 3,822,453 - - - (b) Credit Risk Exposure Credit risk represents the loss that would be recognised if counterparties failed to perform as contracted. The credit risk on financial assets of the League which have been recognised on the Balance Sheet, is the carrying amount, net of any impairment losses. (c) Net Fair Values of Financial Assets & Liabilities Valuation Approach Net fair values of monetary financial assets and liabilities are determined by the League by valuing them at the present value of contractual future cash flows on amounts due from customers (reduced for expected credit losses) or due to suppliers. Net Fair Values The Directors consider the carrying amount of financial assets and liabilities which have been recognised on the Balance Sheet to approximate their net fair values. NOTE 30 ACCUMULATED FUNDS NOTE 2007 $ 2006 $ Accumulated Funds at beginning of year Loss for the year Transfer from Asset revaluation reserve 1,848,519 (83,826) 4,466,725 2,577,638 (729,119) - Accumulated Funds at end of year 6,231,418 1,848,519
NOTE 31. RESERVES NOTE 2007 $ Asset revaluation reserve 4,871,093 9,267,438 Movements During the Year Balance at Beginning of year Transfer to Accumulated funds Revaluation Increments - Investments - Land held for sale 14 9,267,438 (4,466,725) 21,840 48,540 2006 $ 8,881,538 - 17,500 368,400 Balance at end of year 4,871,093 9,267,438 Nature and purpose of reserve The asset revaluation reserve includes the revaluation increments arising from the revaluation of land held for sale and investments. NOTE 32 EVENTS SUBSEQUENT TO REPORTING DATE There has not arisen, in the interval between the end of the financial year and the date of this report, any item, transaction or event of a material and unusual nature likely, in the opinion of the Directors, to affect the operations or state of affairs of the League. Cerebral Palsy League of Queensland ( 23 ) Directors’ Declaration In the opinion of the Directors of Cerebral Palsy League of Queensland: (a) the financial statements and notes, set out on pages 8 to 23 are in accordance with the Corporations Act 2001, including: (i) Giving a true and fair view of the financial position of the League as at 30 June 2007 and of its performance for the year ended on that date; and (ii) Complying with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Regulations 2001; and (b) there are reasonable grounds to believe that the League will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of the Directors: R. McNally Chairperson Dated at Brisbane this 13th day of October 2007.
Page 3 and 4: Front Cover Image: League client, Z
Page 5 and 6: about the league The Cerebral Palsy
Page 7 and 8: chairperson and CEO foreword This y
Page 9 and 10: Pictured: League client, Bridie (th
Page 11 and 12: Pictured: Supported employees, Stev
Page 13 and 14: Pictured: More than 190 people atte
Page 15 and 16: Pictured: League client, Will Denny
Page 17 and 18: Pictured: Governor Bryce congratula
Page 19 and 20: Pictured: Supported employee, Ernes
Page 21 and 22: service development and policy Over
Page 23 and 24: Pictured: On behalf of the State CC
Page 25 and 26: Pictured: More than 30 people volun
Page 27 and 28: of agreements available to the Leag
Page 29 and 30: Pictured: Talented artist, John Mor
Page 31 and 32: Director’s Report The Directors p
Page 33 and 34: control, monitoring and reporting m
Page 35 and 36: Marketing and Fundraising Committee
Page 37 and 38: • Dispute resolution • Conflict
Page 39 and 40: Statement of recognised Income & Ex
Page 41 and 42: Estimates and underlying assumption
Page 43 and 44: (j) Inventories Inventories are car
Page 45 and 46: Cash at bank and on hand as at the
Page 47 and 48: NOTE 15. PROPERTY, PLANT AND EQUIPM
Page 49 and 50: • The bank loan covering the purc
Page 51: NOTE 26. COMPANY NAME AND MEMBERS L

Untitled - Cerebral Palsy League

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