The American Club 2023/2024 Annual Report

PAGE 56

STATEMENT OF FINANCIAL POSITION 30 JUNE 2024

Note

2024

2023

$

$

ASSETS

Current assets Cash and bank balances

6

21,285,619 2,274,385

20,375,732

Due from members

7

2,651,562

Transferable club memberships

23,558 199,188 104,282 828,237

23,558

251,508 754,771 832,202

Prepayments

Other receivables

8

Consumable stocks Total current assets

24,715,269

24,889,333

Non-current assets Property, plant and equipment

9

51,887,010

53,642,789

Right-of-use asset

10

27,462

-

Investment in financial assets

11

12,882,850 64,797,322

11,563,765

Total non-current assets

65,206,554

Total assets

89,512,591

90,095,887

LIABILITIES AND FUNDS

Current liabilities Trade payables and accruals

12 13 14

5,030,714 2,904,242

4,839,416

Other payables

3,031,133

Lease liability

28,155

-

Fees received in advance from potential members

247,816

670,785 46,297 375,125 795,516

Derivative financial liabilities

15

10,332

Members’ deposits Contract liabilities Provision for taxation Total current liabilities

642,805 792,423

16

-

117,694

9,656,487

9,875,966

Club Funds Operating Fund

17 17

3,200,005

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

Capital Fund

76,656,099 79,856,104

Total Club Funds

Total liabilities and Club Funds

89,512,591

90,095,887

Daniel Gewirtz President

Jay Jobanputra Treasurer

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2023 / 2024