Annual Report 2018/19

STATEMENT OF FINANCIAL POSITION 30 June 2019

Note

2019

2018

$

$

ASSETS Current assets Cash and cash equivalents

6 29,374,675 54, 814,036

Due from members

7

2,105,294 23,558 342,425 267,361

1,761,721

Transferable club memberships

23,558

Prepayments

232,270 265,502

Other receivables Consumable stocks Total current assets

8

566,605 520,437 32,679,918 57, 61 7,524

Non-current assets Property, plant and equipment

9 67,555,130

52,624,892

Financial assets at fair value through other comprehensive income

10 10,242

12,227

Total non-current assets

67,565,372 52,637,1 1 9

Total assets

100,245,290

110,254,643

LIABILITIES AND FUNDS Current liabilities Trade payables and accruals

4,387,481

3,538,763

Other payables

11

4,709,087 4, 532,732

Fees received in advance from potential members

492,282 444,750 434,373

609,448 820,605

Members’ deposits Contract liabilities Provision for taxation Total current liabilities

12

-

1 18, 891 125,722 10,586,864 9,627,270

Club Funds Operating Fund

13 3,200,005

3,200,005

Capital Fund

13 86,458,421 97, 427,368

Total Club Funds

89,658,426 100,627,373

Total liabilities and Club Funds

100,245,290 1 10,254,643

Dana Hvide

Rahul Arora

President

Treasurer

See accompanying notes to financial statements.

30

The American Club 2018/19 ANNUAL REPORT