The American Club 2023/2024 Annual Report

PAGE 93

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2024

21. EXPENDITURE

Facilities, front office and administration

Membership and marketing

Food and beverage

Member activities

Club services

Total

$

$

$

$

$

$

2024

Cost of sales/services

4,672,277

17,967 3,420,582

-

-

8,110,826

Salaries, wages, bonuses and other related expenses

7,677,082 5,324,539 2,137,820 5,927,579 424,041

21,491,061

Central provident fund contributions

902,705

267,490 245,185

720,583

43,591

2,179,554

Audit and legal fees

-

-

-

136,502

-

136,502

Professional fees

-

-

-

69,451

-

69,451

Allowance for doubtful debts

-

-

-

(45,108)

-

(45,108)

Repair and maintenance

152,312

113,690

16,577

679,245

-

961,824

Utilities

-

-

-

2,115,823

-

2,115,823

Other operating expenses

807,804 692,395

240,819 3,049,720 783,485 5,574,223

Finance charges

-

-

-

137,683

-

137,683

Subtotal for Operating Fund

14,212,180 6,416,081 6,060,983 12,791,478 1,251,117 40,731,839

Depreciation (Note 9 and 10)

1,193,569 1,946,861

180,185 1,233,742

9,679 4,564,036

Loss on sale of property, plant and equipment

89

30,730

46

3,246

(903)

33,208

Subtotal for Capital Fund

1,193,658 1,977,591

180,231

1,236,988

8,776 4,597,244

Total

15,405,838 8,393,672 6,241,214 14,028,466 1,259,893 45,329,083

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2023 / 2024