The American Club 2023/2024 Annual Report

PAGE 59

STATEMENT OF CHANGES IN CLUB FUNDS YEAR ENDED 30 JUNE 2024

Operating Fund

Capital Fund

Total Funds

$

$

$

(Note 17)

(Note 17)

2024

Balance at 1 July 2023

3,200,005

77,019,916

80,219,921

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

(117,694)

117,694

-

3,770,679 (3,770,679)

-

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

(3,652,985)

1,405,704 (2,247,281)

Net investment gain

-

535,027

535,027

Realised loss on sale of listed shares

-

(194,412)

(194,412)

Other comprehensive income for the year

-

1,542,849

1,542,849

Total comprehensive loss for the year

-

(363,817)

(363,817)

Balance at 30 June 2024

3,200,005 76,656,099 79,856,104

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

See accompanying notes to financial statements.

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2023 / 2024