The American Club 2022/2023 Annual Report

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME YEAR ENDED 30 JUNE 2023 PAGE 56

2023

2022

Operating fund

Capital fund

Operating fund

Capital fund

Total

Total

Note

$

$

$

$

$

$

Income

Food and beverage

11,547,761

-

11,547,761

8,773,534

-

8,773,534

Member activities

4,999,190

-

4,999,190

4,369,352

-

4,369,352

Club services

7,072,032

-

7,072,032

7,087,236

-

7,087,236

Membership dues

16 8,669,198

-

8,669,198

8,103,823

-

8,103,823

Entrance fees

-

7,498,362

7,498,362

-

7,445,031

7,445,031

Net investment gain (loss)

17

-

262,360

262,360

-

(115,172)

(115,172)

Allocation from Capital Fund

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

-

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

-

Other income

18 2,282,570

-

2,282,570

3,732,724

-

3,732,724

Total Income

36,370,751

5,960,722

42,331,473 33,866,669 5,529,859 39,396,528

Expenditure

19

Food and beverage

13,746,701

1,266,561

15,013,262

11,781,603

1,290,075 13,071,678

Member activities

5,564,789

2,065,211

7,630,000

4,958,099 2,192,082

7,150,181

Club services

6,260,842

191,132

6,451,974

6,177,711

196,489 6,374,200

Facilities, front office and administration

12,626,387

1,319,442

13,945,829

10,595,819 1,333,994

11,929,813

Membership and marketing

1,236,482

58,947

1,295,429

1,084,412

10,277 1,094,689

Total expenditure

39,435,201

4,901,293 44,336,494 34,597,644 5,022,917 39,620,561

(Loss) Profit before tax

(3,064,450)

1,059,429

(2,005,021)

(730,975)

506,942

(224,033)

Income tax expense

20

(102,394)

-

(102,394)

-

-

-

(Loss) Profit net of tax

(3,166,844)

1,059,429

(2,107,415)

(730,975)

506,942

(224,033)

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023