<strong>ORANA</strong> ANNUAL REPORT <strong>2015</strong>/<strong>16</strong> FINANCIAL STATEMENTS STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME For the Financial Year Ended 30 June 20<strong>16</strong> STATEMENT OF FINANCIAL POSITION For the Financial Year Ended 30 June 20<strong>16</strong> 20<strong>16</strong> <strong>2015</strong> $ $ 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 <strong>16</strong>,453,922 14,546,511 18,240,879 <strong>16</strong>,570,2<strong>16</strong> 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 <strong>2015</strong>/<strong>16</strong> 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 20<strong>16</strong> <strong>2015</strong> $ $ 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 <strong>16</strong>4,347 Long-term provisions 269,395 217,832 Total Non-Current Liabilities 269,395 382,179 Total Liabilities 4,509,371 5,343,4<strong>16</strong> Net Assets <strong>16</strong>,3<strong>16</strong>,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 <strong>16</strong>,3<strong>16</strong>,124 15,633,671 10
<strong>ORANA</strong> ANNUAL REPORT <strong>2015</strong>/<strong>16</strong> INDEPENDENT AUDITOR’S REPORT 11
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