The American Club 2017/2018 Annual Report

THE AMERICAN CLUB STATEMENT OF CHANGES IN CLUB FUNDS Year ended 30 June 2018

Operating Fund

Capital Fund

Total Funds

Net investment Renewal in property, and

Total plant and replacement Security Legacy capital equipment fund fund fund fund $ $ $ $ $ $ $

2018

(Note 13)

Balance at 1 July 2017 3,200,005 25,247,107 64,097,668 3,600,000 10,845,057 103,789,832 106,989,837

Legacy Fund drawn down for current year income tax expense Legacy Fund drawn down for topping up of Operating Fund

110,267

-

-

-

(110,267)

(110,267)

-

5,488,470

-

-

- (5,488,470) (5,488,470)

-

(Loss) Income net of tax, before net investment gain (5,598,737) (4,084,722)

2,562,890

-

- (1,521,832) (7,120,569)

Net investment gain

-

-

759,512

-

-

759,512 759,512

Other comprehensive loss for the year

-

-

-

-

(1,407)

(1,407)

(1,407)

Total comprehensive (loss) income for the year Amount transferred for capital expenditure

- (4,084,722)

3,322,402

- (5,600,144) (6,362,464) (6,362,464)

- 31,462,507 (31,462,507)

-

-

-

-

Balance at 30 June 2018 3,200,005 52,624,892 35,957,563 3,600,000 5,244,913 97,427,368 100,627,373

See accompanying notes to financial statements.

30 2017/18 ANNUAL REPORT