Annual Report 2007 - Northern NSW Football

Concise Financial Report Northern NSW Football Ltd (ACN 001 887 467)
Discussion and Analysis of the Financial Report
Information of Northern NSW Football Ltd Concise Financial Report
The Concise Financial Report has been prepared in accordance with Australian
Accounting Standard AASB 1039:Concise Financial Reports and Corporations Act 2001
and is an extract from the Full Financial Report.
The financial statements, specific disclosures and other information included in the
Concise Financial Report is derived from and is consistent with the Full Financial Report
of Northern NSW Football Ltd. The Concise Financial Report cannot be expected to
provide as detailed an understanding of the financial performance, financial position
and financing and investing activities of the Company as the Full Financial Report.
The accounting policies have been consistently applied by the Company and are
consistent with the previous financial year. The Concise Financial Report is presented
in Australian Dollars.
A copy of the Full Financial Report and Auditor’s Report will be sent to any
Voting Member free of charge upon written request.
The following discussion has been included to assist Members in understanding the
Concise Financial Report.
Statement of Income
The result for the year is an operating profit of $322,885, compared with an operating
profit of $430,567 for the previous year. Current year operating profit generated from
revenue of $3,936,814 and expenses of $3,613,929 compared with prior year revenue
of $3,662,985 and expenses of $3,232,418.
Balance Sheet
The Balance Sheet sets out the assets and liabilities of the Company as at 30th September
2007, disclosing current assets of $2,767,025 compared to current liabilities of $283,920,
and non current assets of $330,140, compared to non current liabilities of $Nil.
Cashflow Statement
The Cashflow Statement discloses the net flows from operating activities of
$428,585, investing activities of $(90,577) showing a net increase in cash of $338,008
progressing the overall cash position of the Company from $1,661,127 to $1,999,135.
Changes in Equity This statement reflects the profit for the year being $322,885.
Annual Report 2007 7