The American Club 2017/2018 Annual Report

THE AMERICAN CLUB

STATEMENT OF FINANCIAL POSITION 30 June 2018

Note

2018

2017

$

$

ASSETS Current assets Cash and cash equivalents

6 54,814,036 85,612,504

Due from members

7

1,761,721

2,055,879 23,558 210,067 671,353

Transferable club memberships

23,558 232,270 265,502

Prepayments

Other receivables Consumable stocks Total current assets

8

520,437 749,901 57,617,524 89,323,262

Non-current assets Property, plant and equipment

9 52,624,892 10 12,227

25,247,107

Investment securities Total non-current assets

13,634

52,637,119

25,260,741

Total assets

110,254,643 114,584,003

LIABILITIES AND FUNDS Current liabilities Trade payables and accruals

3,538,763

3,767,146

Other payables

11 4,532,732 2,401,127

Fees received in advance from potential members

609,448 820,605

462,524 785,302

Members’ deposits Provision for taxation Total current liabilities

125,722 178,067 9,627,270 7,594,166

Club Funds Operating Fund

12 3,200,005

3,200,005

Capital Fund Net investment in property, plant and equipment

12 52,624,892 12 35,957,563 12 3,600,000

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

Renewal and Replacement Funds

Security Fund Legacy Fund

13 5,244,913 10,845,057

Total Club Funds

100,627,373 106,989,837

Total liabilities and Club Funds

110,254,643 114,584,003

Kristen Graff

Rahul Arora

President

Treasurer

See accompanying notes to financial statements.

27 2017/18 ANNUAL REPORT