The American Club 2016/2017 Annual Report

THE AMERICAN CLUB

STATEMENT OF FINANCIAL POSITION 30 June 2017

Note

2017

2016

$

$

ASSETS Current assets Cash and cash equivalents

6 85,612,504 97,887,510

Due from members

7

2,055,879

2,439,142

Transferable club memberships

23,558 210,067 671,353

23,558 216,633 277,517

Prepayments

Other receivables Consumable stocks Total current assets

8

749,901 973,884 89,323,262 101,818,244

Non-current assets Property, plant and equipment

9 25,247,107

15,861,870

Investment securities Total non-current assets

10 13,634 2,625,079

25,260,741 18,486,949

Total assets

114,584,003 120,305,193

LIABILITIES AND FUNDS Current liabilities Trade payables and accruals

3,767,146 2,401,127 462,524 785,302

4,129,838 1,433,595

Other payables

11

Fees received in advance from potential members

745,591 791,802

Members’ deposits Provision for taxation Total current liabilities

178,067 174,342 7,594,166 7,275,168

Club Funds Operating Fund

12 3,200,005

3,223,084

Capital Fund Net investment in property, plant and equipment

12 25,247,107 12 64,097,668 12 3,600,000

15,861,870 71,023,011 3,600,000

Renewal and Replacement Funds

Security Fund Legacy Fund

13 10,845,057 19,322,060

Total Club Funds

106,989,837 113,030,025

Total liabilities and Club Funds

114,584,003 120,305,193

Kristen Graff

Rahul Arora

President

Treasurer

See accompanying notes to financial statements.

27 2016/17 ANNUAL REPORT