The American Club 2021/2022 Annual Report

PAGE 61 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

STATEMENT OF CHANGES IN CLUB FUNDS YEAR ENDED 30 JUNE 2022

Operating Fund

Capital Fund

Total Funds

$

$

$

(Note 15)

(Note 15)

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 gain

-

(115,172)

(115,172)

Other comprehensive loss 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

2021

Balance at 1 July 2020

3,200,005

80,779,946

83,979,951

Capital Fund drawn down for topping up of Operating Fund

1,159,899

(1,159,899)

-

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

(1,159,899)

604,861

(555,038)

Net investment gain

-

23,777

23,777

Other comprehensive income for the year

-

2,265

2,265

Total comprehensive loss for the year

-

(528,996)

(528,996)

Balance at 30 June 2021

3,200,005

80,250,950 83,450,955

See accompanying notes to financial statements.