The American Club 2021/2022 Annual Report

PAGE 59 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME YEAR ENDED 30 JUNE 2022

2022

2021

Operating fund

Capital fund

Operating fund

Capital fund

Total

Total

Note

$

$

$

$

$

$

Income

Food and beverage

8,773,534

-

8,773,534

7,304,258

-

7,304,258

Member activities

4,369,352

-

4,369,352 4,670,591

-

4,670,591

Club services

7,087,236

-

7,087,236 6,693,829

-

6,693,829

Membership dues

16

8,103,823

-

8,103,823 7,888,680

-

7,888,680

Entrance fees

-

7,445,031

7,445,031

-

7,709,780 7,709,780

Net investment (loss) gain

17

-

(115,172)

(115,172)

-

23,777

23,777

Allocation from Capital Fund

1,800,000 (1,800,000)

-

1,600,000 (1,600,000)

-

Other income

18 3,732,724

-

3,732,724

3,884,084

-

3,884,084

Total Income

33,866,669 5,529,859 39,396,528 32,041,442 6,133,557 38,174,999

Expenditure

19

Food and beverage

11,781,603

1,290,075

13,071,678

10,343,909 1,443,663 11,787,572

Member activities

4,958,099 2,192,082

7,150,181

5,181,579 2,385,800 7,567,379

Club services

6,177,711

196,489

6,374,200 5,959,792

211,990

6,171,782

Facilities, front office and administration

10,595,819 1,333,994

11,929,813

10,725,090 1,452,079 12,177,169

Membership and marketing

1,084,412

10,277 1,094,689

990,971

11,387 1,002,358

Total expenditure

34,597,644 5,022,917 39,620,561

33,201,341

5,504,919 38,706,260

(Loss) Profit before tax

(730,975) 506,942

(224,033) (1,159,899)

628,638 (531,261)

Income tax expense

20

-

-

-

-

-

-

(Loss) Profit net of tax

(730,975) 506,942

(224,033) (1,159,899)

628,638 (531,261)