The American Club 2021/2022 Annual Report

PAGE 62 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

STATEMENT OF CASH FLOWS YEAR ENDED 30 JUNE 2022

Note

2022

2021

$

$

Operating activities Loss before tax

(224,033)

(531,261)

Adjustments for: Depreciation of property, plant and equipment

9

5,014,913

5,463,942

19

Loss on disposal of property, plant and equipment

8,004

40,976

7

Write back of allowance for due from members

(62,455)

(14,655)

7

Loss allowance for due from members

146,092

46,475

17

Interest income – Fixed deposit

(20,437)

(26,338)

Dividend income

(102,992)

-

Coupon income

(161,289)

-

Realised loss (gain) on investment

435,608

(40)

Unrealised loss on derivatives

29,705

-

Unrealised exchange gain on listed bond

(129,353)

-

Investment management fees

63,930

2,601

Operating cash flows before movements in working capital

4,997,693

4,981,700

Due from members

(690,558)

(558,072)

Other receivables and prepayments

(597,853)

1,114,765

Consumable stocks

(9,464)

(71,054)

Trade and other payables and accruals

783,397

1,681,251

Fees paid in advance from potential members

1,034,969

480,166

Members’ deposits

11,595

(17,935)

Contract liabilities

(67,665)

(859,310)

Cash generated from operations

5,462,114

6,751,511

Interest received

20,437

26,338

Net cash generated from operating activities

5,482,551

6,777,849

Investing activities Purchase of property, plant and equipment

(1,501,180)

(1,125,480)

Proceeds from disposal of property, plant and equipment

14,378

8,756

Proceeds from redemption of short term deposits

-

6,000,000

Placement of short term deposits

(2,000,000)

-

Purchase of investments (Net)

(4,944,221)

(10,000,000)

Net cash used in investing activities

(8,431,023)

(5,116,724)

Financing activity Decrease in pledged deposit, representing net cash from financing activity

400,000

-

Net (decrease) increase in cash and cash equivalents

(2,548,472)

1,661,125

Cash and cash equivalents at beginning of financial year

8,004,800

6,343,675

Cash and cash equivalents at end of financial year

6

5,456,328

8,004,800

See accompanying notes to financial statements.