The American Club 2020/2021 Annual Report

38 PAGE

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Year ended 30 June 2021

2021

2020

Operating fund $

Capital fund $

Operating fund $

Capital fund $

Total $

Total $

Note

Income

Food and beverage

7,304,258

-

7,304,258 7,750,068

-

7,750,068

Member activities

4,670,591

-

4,670,591

2,990,580

-

2,990,580

Club services

6,693,829

-

6,693,829 4,598,317

-

4,598,317

Membership dues

16 7,888,680

-

7,888,680 7,801,261

-

7,801 ,261

Entrance fees

-

7,709,780 7,709,780

-

4,618,031

4,618,031

Net investment gain 17

-

23,777

23,777

-

285,449

285,449

Allocation from Capital Fund

1 ,600,000

-

1,600,000

-

(1,600,000)

(1,600,000)

Other income

18 3,884,084

-

3,884,084 4,225,009

-

4,225,009

Total Income

32,041,442 6,133,557 38,174,999 28,965,235 3,303,480 32,268,715

Expenditure

19

Food and beverage

10,343,909 1,443,663 1 1 ,787,572 1 1,415,447 1,382,514 12,797,961

Member activities

5,1 8 1 ,579 2,385,800 7,567,379 4,327,901

2,333,344 6,661,245

Club services

5,959,792

2 1 1 ,990 6, 1 7 1 ,782 4,325,612

212,371

4,537,983

Facilities, front office and administration Membership and marketing

10,725,090 1,452,079 12,177,169 1 1 ,370,652 1,422,601

12,793,253

990,971

1 1 ,387

1,002,358 1,144,452

1 1 ,265 1 ,155,7 17

Total expenditure

33,201,341

5,504,919 38,706,260 32,584,064 5,362,095 37,946,159

(Loss) Profit before tax

(1,159,899)

628,638

(531,261)

(3,618,829)

(5,677,444)

(2,058,615)

Income tax expense 20

-

-

-

-

-

-

(Loss) Profit net of tax

(1,159,899)

(531,261)

(3,618,829) (2,058,615)

(5,677,444)

628,638

THE AMERICAN CLUB SINGAPORE