The American Club 2022/2023 Annual Report

PAGE 55

STATEMENT OF FINANCIAL POSITION 30 JUNE 2023

Note

2023

2022

$

$

ASSETS

Current assets Cash and bank balances

6 7

20,375,732 2,651,562

19,265,542 2,399,435

Due from members

Transferable club memberships

23,558

23,558

Prepayments

251,508

259,728

Other receivables Consumable stocks Total current assets

8

754,771 832,202

759,345 800,620

24,889,333

23,508,228

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

9 53,642,789

57,199,246 11,448,980 68,648,226

10

11,563,765 65,206,554

Total non-current assets

Total assets

90,095,887

92,156,454

LIABILITIES AND FUNDS

Current liabilities Trade payables and accruals

11

4,839,416 3,031,133 670,785 46,297 375,125 795,516 117,694 9,875,966

4,294,409 3,409,128

Other payables

12

Fees received in advance from potential members

1,825,195

Derivative financial liabilities

13

29,705

Members’ deposits Contract liabilities Provision for taxation Total current liabilities

423,900 587,464

14

15,300

10,585,101

Club Funds Operating Fund

15 15

3,200,005 77,019,916 80,219,921

3,200,005 78,371,348 81,571,353

Capital Fund

Total Club Funds

Total liabilities and Club Funds

90,095,887

92,156,454

Adam Radicic President

Alex Elkies Treasurer

See accompanying notes to financial statements.

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023