ORANA-Annual-Report-2015-16-v7

ORANA ANNUAL REPORT 2015/16
FINANCIAL
STATEMENTS
STATEMENT OF PROFIT OR LOSS &
OTHER COMPREHENSIVE INCOME
For the Financial Year Ended 30 June 2016
STATEMENT OF
FINANCIAL POSITION
For the Financial Year Ended 30 June 2016
2016 2015
$ $
What we earned
Sales revenue 5,217,557 5,451,813
Cost of sales (4,952,931) (5,008,636)
Gross profit 264,626 443,177
Other income 1,522,331 1,580,528
Subsidies & grants received 16,453,922 14,546,511
18,240,879 16,570,216
What we spent
Operating expenses (17,558,426) (15,972,350)
Surplus for the year* 682,453 597,866
Increase in asset revaluation
0 154,584
reserve arising on revaluation
of non-current assets
Total changes in equity 682,453 752,450
* The Financial Statements for the 2015/16 year record a
surplus of $682,453
This result is made up of the following major components:
Operating surplus/(deficit) 573,858 449,871
Bequests & legacies 31,934 20,144
Interest received 27,908 74,577
Profit/(loss) on sale of
48,753 53,274
non-current assets
682,453 597,866
2016 2015
$ $
What we own
Current Assets
Cash assets 312,826 1,345,819
Other current assets 270,636 121,653
Receivables 1,229,254 1,495,912
Inventories 579,745 250,599
Total Current Assets 2,392,461 3,213,983
Non-Current Assets
Property, plant and equipment 18,276,572 17,567,746
Other intangible assets 156,462 195,358
Total Non-Current Assets 18,433,034 17,763,104
Total Assets 20,825,495 20,977,087
What we owe
Current Liabilities
Payables 1,088,580 1,362,327
Deferred revenue 515,063 373,666
Interest bearing liabilities 486,136 1,189,420
Short-term provisions 2,150,197 2,035,824
Total Current Liabilities 4,239,976 4,961,237
Non-Current Liabilities
Interest bearing liabilities 0 164,347
Long-term provisions 269,395 217,832
Total Non-Current Liabilities 269,395 382,179
Total Liabilities 4,509,371 5,343,416
Net Assets 16,316,124 15,633,671
What the association has
built up over the years
Equity
Reserves 3,417,989 3,417,989
Copies of the full set of audited statements are
available on request from the Chief Executive Officer
Retained earnings 12,898,135 12,215,682
Total Equity 16,316,124 15,633,671
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