<h2>Celebrating <strong>Beauty</strong> & Diversity</h2><h3>Superb Fairy-wren</h3> <h2><strong>Bringing Back</strong> Vanishing Species</h2><h3>Regent Honeyeater</h3> <h2><strong>Sharing,</strong> Exploring & Discovering</h2><h3>Discovering Shorebirds outing</h3> <h2><strong>Connecting</strong> with Nature's Wonders</h2><h3>Double-banded Plover</h3> <h2>Sharing Nature's Awesome <strong>Majesty</strong></h2><h3>Yellow-nosed Albatross</h3> <h2>Planting a <strong>future</strong> for threatened species</h2><h3>Capertee Valley tree planting</h3> <h2><strong>Reducing</strong> the Threat of Extinctions</h2><h3>Superb Parrot</h3>

Financial Reports

Download and view the June 2017 accounts for Birding NSW here:

 

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Birding NSW – NSW Field Ornithologists Club Incorporated

Financial Report 

For the year ended 30 June 2017

 

Birding NSW – NSW Field Ornithologists Club Incorporated

Statement of Income

For the year ended 30 June 2017                                                 2017                2016

 

$ $
Revenue from sale of goods 293 193
Other revenues from operating activities 21,227 18,719
Total Revenue 2 (a) 21,520 18,912
 
Purchase of inventories 310 512
Decrease (increase) in inventories (1) 30
Administration expenses 2 (b) 18,610 22,750
Operating surplus/(deficit) before income tax 2,601 [4,380]
 
Accumulated surplus at the beginning of the year 56,819 61,199
Accumulated surplus at the end of the year 59,421 56,819
 

 

 

 

 

 

 

There are no non-owner related changes in equity.

The accompanying notes form part of these financial statements.

 

 

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Statement of Financial Position for the year ended 30 June 2017

Current assets 2017

$

2016

$

Cash 3 62,758 59,340
Inventories 4 1,052 1,051
Total current assets 63,810 60,391
 
Non-current assets
Property, plant and equipment 5 0 0
Total assets 63,810 60,391
 
Current liabilities
Payables & Deferred Income 6 4,390 3,572
Total current liabilities 4,390 3,572
 
Net assets 59,421 56,819
 
Members’ funds
Accumulated surplus 59,421 56,819

 

 

The accompanying notes form part of these financial statements.

 

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Statement of Cash Flows For the year ended 30 June 2017

 

2017

$

2016

$

Cash flows from operating activities

 

Interest received 1,622 1,909
Receipts from members subscriptions and sundry

receipts

19,605 16,462
General administration expenses and direct expenses

 

(17,809) (22,805)
Net cash provided by/(used in) operating activities                                 7(b) 3,418 [4,434]
Net increase/(decrease) in cash held

 

3,418 [4,434]
Cash at beginning of financial year

 

59,340 63,774
Cash at end of financial year              7(a)                         62,758 59,340

 

 

The accompanying notes form part of these financial statements.

 

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Notes to the financial statements for the year ended 30 June 2017

 

1          Statement of significant accounting policies

 

The financial report is a general purpose financial report, which has been prepared in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards and other authoritative pronouncements of the Australian Accounting Standards Board.

 

The financial report is prepared on an accruals basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair value of consideration given in exchange for assets.

 

The accounting policies have been consistently applied unless otherwise stated.

 

Revenue recognition

 

Subscription revenue

Subscription revenue is recognised in the period to which the member’s subscription relates. The association’s subscription year is not the same as its financial year.

 

Sales revenue

Sales revenue comprises revenue earned from the provision of goods to third parties. Sales revenue is recognised when the goods are provided.

 

Interest income

Interest income is notified and paid in arrears and is brought to account on notification.

 

Other revenue

Other revenue, including donations, is recognised as it is received.

 

Inventories

Inventories are measured at the lower of cost and net realisable value (being the estimated selling price in the ordinary course of business, less any estimated selling expenses).

 

Financial instruments

Liabilities are recognised for amounts to be paid in the future for goods and services received, whether or not billed. Accounts payable are generally settled within the supplier’s terms.

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Notes to the financial statements for the year ended 30 June 2017

 

1          Statement of significant accounting policies (continued)

 

Plant and equipment

Plant and equipment are brought to account at cost, less any accumulated depreciation. Assets are depreciated on a straight-line basis at approximately 25% per annum.

 

The carrying amount of fixed assets is reviewed annually to ensure it is not in excess of their recoverable amount. The recoverable amount is assessed on the basis of expected net cash flows to be received from the assets’ employment and subsequent disposal.

 

Taxation

The Association has an exemption from income tax. Therefore, no provision has been made for income tax.

The Association is not registered for the Goods and Services Tax (GST). All costs are recognised inclusive of any applicable GST.

 

 

2017                2016               

$                       $

2          Operating Result

 

 

(a)        Operating revenue includes:

Sales revenue                                                     293                   193

Subscriptions and other operating revenue     16,741             14,372

Donations                                                          2,630               2,405

Interest received                                              1,622               1,909

21,286             18,879

 

(b)        Operating result has been determined

after charging as expenditure:

Depreciation on fixed assets                                   0                 0

 

(c)        Donations and grants made                                     0             2,530

 

 

 

     

 

Birding NSW – NSW Field Ornithologists Club Incorporated

Notes to the financial statements for the year ended 30 June 2017

  2017            2016    

3          Cash

Cash on hand                                                           140                140

ING Business Optimiser Account                          8,255             6,634

ING Term Deposit                                               50,000           50,000

Commonwealth Bank Cheque Account                 4,363             2,566           

                                                                            62,758           59,340           

The Commonwealth Bank Account receives interest at a floating rate. The applicable average rate at year-end was 0.01% (2015: 0.01%).

The ING Business Optimiser account receives interest at a floating rate. The applicable rate at year end was 2.0% (2015: 2.25%).

The ING Term Deposit account receives interest at a fixed rate at conclusion of the term. The applicable rate at year end was 3.0% (2015: 3.0%).

Credit risk is minimised by holding all cash and short-term balances with large financial institutions.

 

 

 

4

Inventories 2017 2016
Finished goods on hand 1,052 1,051
5 Property, plant and equipment
Furniture and fittings at cost 5,536 5,536
Less: accumulated depreciation [5,536] (5,536)
0 0
Reconciliation
Carrying value at beginning of year 0 0
Depreciation expense 0 0
Carrying amount at end of year 0 0
6 Payables
Deferred income 4,390 3,572

The above amount takes into account that the financial year and the subscription year are not identical.

 

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

Notes to the financial statements for the year ended 30 June 2017

7          Notes to statement of cash flows

  • Reconciliation of cash

For the purposes of the statement of cash flows, cash includes cash and at call deposits with banks, and investments in money market instruments, net of bank overdrafts. Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:

        2017

$

2016

$

Cash on hand 140 140
Deposits at call or maturing within 12 months 50,000 50,000
Cash at bank 12,618 9,200
62,758 63,775
(b)      Reconciliation of net cash provided by/(used

            in) operating activities to operating profit

            after income tax

Operating surplus/(deficit) after income tax 2,601 [4,380]
Non-cash flows in operating result:
Depreciation 0 0
2,601 [4,380]
Changes in assets and liabilities:
Decrease/(increase) in current inventories (1) 30
Decrease/(increase) in Sundry debtors 0 0
Increase/(decrease) in other creditors 818 [84]
3,418 [4,434]

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated Statement by members of the Committee

In the opinion of the Committee of Birding NSW – NSW Field Ornithologists Club Incorporated (“the Association”) the financial report as set out on pages 1 to 7:

  • presents fairly the financial position of the Association as at 30 June 2017 and its performance and cash flows for the year then ended in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards, and other authoritative pronouncements of the Australian Accounting Standards Board; and

2    at the date of this statement there are reasonable grounds to believe that the       association will be able to pay its debts as and when they fall due.

This statement is made in accordance with a resolution of the Committee and is signed for an on behalf of the Committee by:

 

Tom Karplus                       Leigh Hall

President                            Treasurer            

 

This Fifth day of September 2017



 

For annual account for previous years scroll down:

 

 

Financial Report 2016

 

Final Accounts for the year 2015