The American Club 2022/2023 Annual Report

STATEMENT OF CHANGES IN CLUB FUNDS YEAR ENDED 30 JUNE 2023 PAGE 58

Operating Fund

Capital Fund

Total Funds

$

$

$

(Note 15)

(Note 15)

2023

Balance at 1 July 2022

3,200,005

78,371,348

81,571,353

Capital Fund drawn down for current year income tax expense Capital Fund drawn down for topping up of Operating Fund

102,394

(102,394)

-

3,064,450

(3,064,450)

-

(Loss) Profit net of tax, before net investment gain

(3,166,844)

797,069 (2,369,775)

Net investment gain

-

262,360

262,360

Realised loss on sale of listed shares

-

(38,492)

(38,492)

Other comprehensive income for the year

-

794,475

794,475

Total comprehensive loss for the year

-

(1,351,432)

(1,351,432)

Balance at 30 June 2023

3,200,005

77,019,916

80,219,921

2022

Balance at 1 July 2021

3,200,005 80,250,950 83,450,955

Capital Fund drawn down for topping up of Operating Fund

730,975

(730,975)

-

(Loss) Profit net of tax, before net investment gain

(730,975)

622,114

(108,861)

Net investment loss

-

(115,172)

(115,172)

Other comprehensive income for the year

-

(1,655,569)

(1,655,569)

Total comprehensive loss for the year

-

(1,879,602)

(1,879,602)

Balance at 30 June 2022

3,200,005

78,371,348

81,571,353

See accompanying notes to financial statements.

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023