<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

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Financial Report
For the year ended 30 June 2016

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Statement of Income

For the year ended 30 June 2016                                                 2016                2015

 

    $ $
Revenue from sale of goods   193 135
Other revenues from operating activities   18,719 20,541
Total Revenue 2 (a) 18,912 20,676
       
Purchase of inventories   512 870
       
Decrease (increase) in inventories   30 [14]
Administration expenses 2 (b) 22,750 23,529
       
Operating surplus/(deficit) before income tax   [4,380] [3.709]
       
Accumulated surplus at the beginning of the year   61,199 64,908
Accumulated surplus at the end of the year   56,819 61,199
       
 

 

 

 

 

 

 

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 2016

Current assets   2016

$

2015

$

Cash 3 59,340 63,775
       
Inventories 4 1,051 1,081
       
Total current assets   60,391 64,856
       
Non-current assets      
Property, plant and equipment 5 0 0
       
Total assets   60,391 64,856
       
Current liabilities      
Payables & Deferred Income 6 3,572 3,656
       
Total current liabilities   3,572 3,656
       
Net assets   56,819 61,200
       
Members’ funds      
Accumulated surplus   56,819 61,200
   
 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

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 2016

 

    2016

$

2015

$

Cash flows from operating activities

 

     
Interest received   1,909 2,366
Receipts from members subscriptions and sundry

receipts

  16,462 17,454
General administration expenses and direct expenses

 

  [22,805] (23,621)
Net cash provided by/(used in) operating activities                                 7(b)   [4,434] [3,801]
       
       
Net increase/(decrease) in cash held

 

  [4,434] [3,801]
Cash at beginning of financial year

 

  63,774 67,575
Cash at end of financial year              7(a)                           59.340 63,774
   
   

 

 

 

 

 

 

 

 

 

 

 

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 2016

 

1          Statement of significant accounting policies

 

The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Urgent Issues Group Consensus Views and other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associated Incorporations Act 1994 of NSW.

 

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 2016

 

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.

 

 

2016                2015               

$                       $

2          Operating Result

 

 

(a)        Operating revenue includes:

Sales revenue                                                     193                   135

Subscriptions and other operating revenue     14,372             14,973

Donations                                                          2,405               3,203

Interest received                                              1,909               2,366

18,879             20,677

 

(b)        Operating result has been determined

after charging as expenditure:

Depreciation on fixed assets                                   0                 0

 

(c)        Donations and grants made                              2,530            2,000

 

 

 

     

 

Birding NSW – NSW Field Ornithologists Club Incorporated

Notes to the financial statements for the year ended 30 June 2016

  2016            2015    

3          Cash

Cash on hand                                                           140                140

ING Business Optimiser Account                          6,634             2,182

ING Term Deposit                                               50,000           60,693

Commonwealth Bank Cheque Account                 2,566                759           

                                                                            59,340           63,775           

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 2016 2015
  Finished goods on hand 1,051 1,081
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 3,572 3,656
   

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 2016

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:

          2016

$

2015

$

Cash on hand 140 140
Deposits at call or maturing within 12 months 50,000 60,693
Cash at bank 9,200 2,941
  59,340 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 [4,380] [3,709]
Non-cash flows in operating result:    
Depreciation 0 0
  [4,380] [3,709]
Changes in assets and liabilities:    
Decrease/(increase) in current inventories 30 [13]
Decrease/(increase) in Sundry debtors 0 0
Increase/(decrease) in other creditors [84] [79]
  [4,434] [3,801]

 

 

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:

1  presents fairly the financial position of the Association as at 30 June 2016 and its performance and cash flows for the year then ended in accordance with Australian Accounting Standards, mandatory professional reporting requirements 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 29th day of August 2016

 



Birding NSW – NSW Field Ornithologists
Club Incorporated

 

Financial Report
For the year ended 30 June 2015

 

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

 

Statement of Income

For the year ended 30 June 2015                                                 2015                2014

 

$ $
Revenue from sale of goods 135 308
Other revenues from operating activities 20,541 20,609
Total Revenue 2 (a) 20,676 20,917
Purchase of inventories 870 459
Decrease (increase) in inventories 14 15
Administration expenses 2 (b) 23,529 19,388
Operating surplus/(deficit) before income tax [3,709] 1,055
Accumulated surplus at the beginning of the year 64,908 63,853
Accumulated surplus at the end of the year 61,200 64,908
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 2015

Current assets 2015

$

2014

$

Cash 3 63,775 67,575
Sundry debtors 0 0
Inventories 4 1,081 1,068
Total current assets 64,856 68,643
Non-current assets
Property, plant and equipment 5 0 0
Total assets 64,856 68,643
Current liabilities
Payables & Deferred Income 6 3,656 3,735
Total current liabilities 3,656 3,735
Net assets 61,200 64,908
Members’ funds
Accumulated surplus 61,200 64,908

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 2015

 

2015

$

2014

$

Cash flows from operating activities
Interest received 2,366 2.560
Receipts from members subscriptions and sundry

receipts

17,454 18.050
General administration expenses and direct expenses [23,621] (19,160)
Net cash provided by/(used in) operating activities                                 7(b) [3,801] 1,451
Net increase/(decrease) in cash held [3,801] 1,451
Cash at beginning of financial year 67,575 66,124
Cash at end of financial year              7(a)                          63,774 67,575

 

 

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 2015

 

1    Statement of significant accounting policies

 

The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Urgent Issues Group Consensus Views and other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associated Incorporations Act 1994 of NSW.

 

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 2015

 

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.

 

 

2015               2014       

$                  $

2    Operating Result

 

 

(a)    Operating revenue includes:

Sales revenue                       135            308

Subscriptions and other operating revenue    14,973        14,886

Donations                     3,203          3,164

Interest received                 2,366          2,560

20,677        20,918

 

(b)    Operating result has been determined

after charging as expenditure:

Depreciation on fixed assets                    0            191

 

(c)    Donations and grants made               2,000            0

 

 

Birding NSW – NSW Field Ornithologists Club Incorporated

Notes to the financial statements for the year ended 30 June 2015

 2015            2014     

3    Cash

Cash on hand    140    140

ING Business Optimiser Account    2,182    7,519

ING Term Deposit    60,693    58,492

Commonwealth Bank Cheque Account    759    1,425

63,775    67,575

The Commonwealth Bank Account receives interest at a floating rate. The applicable average rate at year-end was 0.01% (2014: 0.01%).

The ING Business Optimiser account receives interest at a floating rate. The applicable rate at year end was 2.25% (2014: 2.75%).

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% (2014: 3.7%).

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

4 Inventories 2015 2014
Finished goods on hand 1,081 1,068
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 0 191
Depreciation expense 0 (191)
Carrying amount at end of year 0 0
6 Payables
Deferred income 3,656 3,735

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 2015

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:

       2015

$

2014

$

Cash on hand 140 140
Deposits at call or maturing within 12 months 60,693 58,492
Cash at bank 2,941 8,943
63,775 67,575
(b)      Reconciliation of net cash provided by/(used

           in) operating activities to operating profit

           after income tax

Operating surplus/(deficit) after income tax [3,709] 1,056
Non-cash flows in operating result:
Depreciation 0 191
[3,709] 1,246
Changes in assets and liabilities:
Decrease/(increase) in current inventories [13] 15
Decrease/(increase) in Sundry debtors 0 0
Increase/(decrease) in other creditors [79] 189
[3,801] 1,451

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:

1    presents fairly the financial position of the Association as at 30 June 2015 and its performance and cash flows for the year then ended in accordance with Australian Accounting Standards, mandatory professional reporting requirements 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 28th day of September 2015

 

 


 

 

 

Birding NSW – NSW Field Ornithologists
Club Incorporated

 

Financial Report
For the year ended 30 June 2014


Birding NSW – NSW Field Ornithologists Club Incorporated

 

Statement of Income

For the year ended 30 June 2014

               2014                     $                2013                $
Revenue from sale of goods 308 417
Other revenues from operating activities 20,609 21,408
Total Revenue 2 (a) 20,917 21,825
 
Purchase of inventories 459 1,342
Decrease (increase) in inventories 15 (1,008)
Administration expenses 2 (b) 19,388 19,551
Operating surplus/(deficit) before income tax 1,055 1,940
 
Accumulated surplus at the beginning of the year 63,853 61,913
Accumulated surplus at the end of the year 64,908 63,853
 

 

 

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 2014

 

Note 2014$ 2013$
Current assets
Cash 3 67,575 66,124
Sundry debtors 0 0
Inventories 4 1,068 1,083
Total current assets 68,643 67,208
 
Non-current assets
Property, plant and equipment 5 0 191
Total assets 68,643 67,399
 
Current liabilities
Payables & Deferred Income 6 3,735 3,546
Total current liabilities 3,735 3,546
 
Net assets 64,908 63,853
 
Members’ funds
Accumulated surplus 64,908 63,853

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 2014

 

2014$ 2013$
Cash flows from operating activities 
Interest received 2.560 3,204
Receipts from members subscriptions and sundry receipts 18.050 18,204
General administration expenses and direct expenses (19,160) (15,696)
Net cash provided by/(used in) operating activities                                 7(b) 1,451 5,711
Net increase/(decrease) in cash held  1,451 5,711
Cash at beginning of financial year  66,124 60,413
Cash at end of financial year               7(a)                         67,575 66,124

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 2014

 

1          Statement of significant accounting policies

 

The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Urgent Issues Group Consensus Views and other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associated Incorporations Act 1994 of NSW.

 

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 2014

 

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.

 

 

2          Operating Result

 

 

2014             2013

$                   $

(a)        Operating revenue includes:

Sales revenue                                                       308                  417

Subscriptions and other operating revenue     14,886             14,775

Donations                                                        3,164             3,429

Interest received                                             2,560             3,204

20,918             21,825

 

(b)        Operating result has been determined

after charging as expenditure:

Depreciation on fixed assets                                191                  916

 

(c)        Donations and grants made                                     0                  395

 

 

 

     

 

Birding NSW – NSW Field Ornithologists Club Incorporated

Notes to the financial statements for the year ended 30 June 2014

     2014     2013

3          Cash                                                                          

$                    $

Cash on hand                                                           140                140

ING Business Optimiser Account                          7,519             9,200

ING Term Deposit                                               58,492           56,193

Commonwealth Bank Cheque Account                 1,425                591

67,575           66,124

The Commonwealth Bank Account receives interest at a floating rate. The applicable average rate at year-end was 0.01% (2013: 0.01%).

The ING Business Optimiser account receives interest at a floating rate. The applicable rate at year end was 2.75% (2013: 3.00%).

The ING Term Deposit account receives interest at a fixed rate at conclusion of the term. The applicable rate at year end was 3.7% (2013: 4.9%).

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

4 Inventories    2014 2013
Finished goods on hand 1,068 1,083
5 Property, plant and equipment
Furniture and fittings at cost 5,536 5,536
Less: accumulated depreciation (5,536) (5,345)
0 191
Reconciliation
Carrying value at beginning of year 191 1,107
Depreciation expense (191) (916)
Carrying amount at end of year 0 191
6 Payables
Deferred income 3,735 3,546

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 2014

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:

2014$ 2013$
Cash on hand 140 140
Deposits at call or maturing within 12 months 58,492 56,193
Cash at bank 8,943 9,791
67,575 66,124
(b)     Reconciliation of net cash provided by/(used

  1. in) operating activities to operating profit

           after income tax

Operating surplus/(deficit) after income tax 1,056 1,940
Non-cash flows in operating result:
Depreciation 191 916
1,246 2,856
Changes in assets and liabilities:
Decrease/(increase) in current inventories 15 (1,008)
Decrease/(increase) in Sundry debtors 0 4,599
Increase/(decrease) in other creditors 189 (735)
1,451 5,711

 

 

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:

1  presents fairly the financial position of the Association as at 30 June 2014 and its performance and cash flows for the year then ended in accordance with Australian Accounting Standards, mandatory professional reporting requirements 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 22nd day of September 2014