10. FINANCIAL REPORTS

10.1.1.     PROFIT AND LOSS

For the year ended 30 June 2018
Trading Income $$Notes
Interest Received163.74
Member Subscriptions2,950.00
Miscellaneous Income2,064.10
Sponsorship14,141.00
Total Trading Income19,318.84
Gross Profit 19,318.84 
Operating Expenses
Accounting1,831.85
Bank Fees47.30
Campaign Expenses12,795.82
Conferences362.73
Insurance1,126.50
Office Expenses950.37
Postage603.37
Telephone524.02
Total Operating Expenses 18,241.96 
    
Net Profit 1,076.88 

 

10.1.2.     BALANCE SHEET

As at 30 June 2018
Assets$$Notes
Bank
Westpac Business Max-iDirect22,836.86
Westpac Community Solutions38,911.51
Total Bank61,748.37
Total Assets 61,748.37 
Liabilities
Current Liabilities
GST79.52
Sponsorship for 2018-19 activities5,500[1]
Total Current Liabilities5,579.52 
 
Non-current Liabilities 
ATO/RBA Liability3,658.00 
GST Clearing-3,657.27 
Total Non-Current Liabilities0.73 
Total Liabilities  5,580.25 
 
Net Assets 56,168.12 
 
Equity    
Current Year Earnings1,076.88 
Retained Earnings55,091.24 
Total Equity 56,168.12 

Notes

[1]           FSANZ Food Safety Week 2018 sponsorship of $5500 (including GST) to be expended in 2018-19.

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