The American Club 2021/2022 Annual Report

PAGE 58 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

STATEMENT OF FINANCIAL POSITION 30 JUNE 2022

Note

2022

2021

$

$

ASSETS

Current assets Cash and bank balances

6 7

19,265,542 26,080,895

Due from members

2,399,435 23,558

1,792,514

Transferable club memberships

23,558

Prepayments

259,728

181,013

Other receivables Consumable stocks Total current assets

8

759,345 800,620 23,508,228

240,207

791,155

29,109,342

Non-current assets Property, plant and equipment Investment in financial assets

9

57,199,246 11,448,980 68,648,226

60,586,137 2,345,537 62,931,674

10

Total non-current assets

Total assets

92,156,454

92,041,016

LIABILITIES AND FUNDS

Current liabilities Trade payables and accruals

11

4,294,409 3,409,128 1,825,195 29,705 423,900 587,464 15,300 10,585,101

3,603,649 3,103,336

Other payables

12

Fees received in advance from potential members

790,226

Derivative financial liabilities

13

10,116

Members’ deposits Contract liabilities Provision for taxation Total current liabilities

412,305 655,129 15,300

14

8,590,061

Club Funds Operating Fund

15 3,200,005

3,200,005

Capital Fund

15

78,371,348 80,250,950 81,571,353 83,450,955

Total Club Funds

Total liabilities and Club Funds

92,156,454

92,041,016

Landy Eng President

Alex Elkies Treasurer

See accompanying notes to financial statements.