MAJOR SPONSORS

More documents

Recommendations

Info

Squash New Zealand Annual Report 2010 Audit Report To the Readers of the Financial Statements of New Zealand Squash Incorporated. We have audited the financial statements of New Zealand Squash Incorporated on pages 43 to 49 which comprise the balance sheet as at 30 September 2010, and the income statement, statement of changes in equity for the year then ended, and a summary of significant accounting policies and other explanatory information. NEW ZEALAND SQUASH INCORPORATED RESPONSIBILITY FOR THE FINANCIAL STATMENTS The Executive Council is responsible for the preparation and fair presentation of these financial statements in accordance with generally accepted accounting practice in New Zealand and for such internal control as the Executive council determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. AUDITOR’S RESPONSIBILITIES Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (New Zealand). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion. Other than in our capacity as auditor we have no relationship with, or interests in, New Zealand Squash Incorporated. OPINION Basis for Qualified Opinion on Financial Position and Financial Performance In common with organisations of similar nature, control over income in Club Kelburn prior its being recorded is limited, and no practical audit procedure exist to determine the effect of this limited control. In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements on pages 43 to 49: • Comply with generally accepted accounting practices in New Zealand; • Give a true and fair view of the financial position of New Zealand Squash Incorporated as at 30 September 2010, and its financial performance for the year then ended. OTHER MATTERS Last year’s accounts had been qualified on the same basis as this year. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS We have obtained all the information and explanations we have required. In our opinion proper accounting records have been kept by the organisation as far as appears from our examination of those records. Cameron McGregor BCOM FCA McGregor Bailey Chartered Accountants 2 Crummer Road, Ponsonby, Auckland 1144, New Zealand date: 19 November 2010 44
Squash New Zealand Annual Report 2010 Note 2010 2009 $ $ Accumulated Funds Opening Balance as at 1 October 1,042,435 1,160,810 Surplus / (Deficit) for the Year (5,427) (118,375) Total Accumulated Funds 1,037,008 1,042,435 Represented By: Current Assets NEW ZEALAND SQUASH (INC) Consolidated Statement of Financial Position For the year ending 30 September 2010 Cash on Hand 60 370 Current Accounts 318,168 45,413 On Call Accounts 508,037 543,747 Term Deposits 178,382 175,110 Accounts Receivable 3 59,104 71,823 Stock on Hand 1 35,496 39,293 Payments in Advance 4 29,247 47,811 Total Current Assets 1,128,494 923,567 Investments Loans to National Squash Centre 87,924 117,231 Total Investments 5 87,924 117,231 Non-current Assets 6 281,529 299,013 Total Assets 1,497,947 1,339,811 Current Liabilities Accounts Payable 240,053 215,156 GST Payable 29,990 925 Sundry Accruals 7 18,576 13,215 Income in Advance 8 172,320 68,080 Total Current Liabilities 460,939 297,376 Total Liabilities 460,939 297,376 NET ASSETS 1,037,008 1,042,435 For and on behalf of the Board: Chairperson CEO 18 November 2010 This statement must be read in conjunction with the Notes to the Financial Statements and the Audit Report on Page 42 45
Page 2 and 3: Squash New Zealand wishes to acknow
Page 4 and 5: Squash New Zealand Annual Report 20
Page 20 and 21: 20 Squash New Zealand Annual Report
Page 52 and 53: membership Squash New Zealand 2010
Page 60: SquaSh New ZealaNd Office: UNITEC,

MAJOR SPONSORS

Create successful ePaper yourself

Delete template?

Save as template?