The American Club 2020/2021 Annual Report

37 PAGE

STATEMENT OF FINANCIAL POSITION 30 June 2021

Note

2021

2020

$

$

ASSETS Current assets Cash and cash equivalents

6 7

26,080,895 1,792,514 23,558 1 8 1 ,013 240,207 79 1 ,155

22,743,675 1,266,262

Due from members

Transferable club memberships

23,558

Prepayments

152 ,365

Other receivables Consumable stocks Total current assets

8

1,383,620 720, 101

29,109,342 26,289,581

Non-current assets Property, plant and equipment Investment in financial assets

9

60,586,137 64,883, 1 5 1

10

2,345,537 62, 93 1 ,674

9, 2 1 1

Total non-current assets

64, 892,362

Total assets

92,041 ,016

91 , 1 8 1 ,943

LIABILITIES AND FUNDS Current liabilities Trade payables and accruals

11

3,603,649 3,103 ,336

1,734,923 3,1 97,030

Other payables

12

Fees received in advance from potential members

790,226

310,060

Derivative financial liabilities

13

10, 1 1 6

-

Members’ deposits Contract liabilities Provision for taxation Total current liabilities

412 ,305

430,240 1 ,514,439

14

655,129

15,300

15,300

8,590,061

7,201 ,992

Club Funds Operating Fund

15 15

3,200,005

3,200,005 80,779,946 83,979,951

Capital Fund

80,250,950 83,450,955

Total Club Funds

Total liabilities and Club Funds

92,041 ,016

9 1 , 1 8 1 ,943

Nasir Kausar

Wayne Farmer

President

Treasurer

See accompanying notes to financial statements.

THE AMERICAN CLUB SINGAPORE