Annual Report 2020-2021

41 PAGE

STATEMENT OF CASH FLOWS Year ended 30 June 2021

2021 $

2020 $

Note

Operating activities Loss before tax

(531 ,261)

(5,677,444)

Adjustments for: Depreciation of property, plant and equipment

9 19 7 7 17

5,463,942

5,350,499

Loss on disposal of property, plant and equipment

40,976

1 1 ,596

Write back of allowance for due from members Loss allowance for due from members

(14,655)

(18,633)

46,475

46,989

(26,338) (40)

(285,449)

Interest income Realised gain on investment

-

Investment management fees

2,601

-

Operating cash flows before movements in working capital

4,981,700

(572,442)

(558,072)

Due from members

810,676

(926,199)

Other receivables and prepayments

1 , 1 1 4 ,765

(71,054)

(153,496)

Consumable stocks

(4,164,615)

Trade and other payables and accruals

1,681, 251

(182,222)

Fees paid in advance from potential members

480,166

(17,935)

(14,510)

Members’ deposits

Contract liabilities

1,080,066

(859,310)

Cash generated from (used in) operations

6,751 , 5 1 1

(4,122,742)

Income taxes paid

-

(103,591)

Interest received

26,338

285,449

Net cash generated from (used in) operating activities

6,777,849

(3,940,884)

Investing activities Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment

( 1 ,125,480)

(2,704,330)

8,756

14, 2 14

Proceeds from redemption of short term deposits

6,000,000

6,000,000

(10,000,000)

Purchase of investments

-

Net cash (used in) generated from investing activities

3,309,884

(5, 1 1 6 ,724)

(631,000)

Net increase (decrease) in cash and cash equivalents

1,661, 1 25

Cash and cash equivalents at beginning of financial year

6,343,675

6,974,675

6

Cash and cash equivalents at end of financial year

8,004,800

6,343,675

See accompanying notes to financial statements.

THE AMERICAN CLUB SINGAPORE