Berry Street Web Docs Annual Report 2013

BERRY STREET ANNUAL REPORT 2013 CONCISE FINANCIAL REPORT STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2013 Retained Earnings Balance at 30 June 2011 Land and Buildings Revaluation Surplus Financial Assets Revaluation Reserve Total 27,350,852 3,402,173 (144,132) 30,608,893 441,445 - - 441,445 - 197,012 - 197,012 - - (1,170,215) (1,170,215) 27,792,297 3,599,185 (1,314,347) 30,077,135 5,425,458 - - 5,425,458 - (5,000) - (5,000) - - 1,448,196 1,448,196 33,217,755 3,594,185 133,849 36,945,789 Profit attributable to the entity Revaluation Total other comprehensive income for the year Balance at 30 June 2012 Profit attributable to the entity Revaluation Total other comprehensive income for the year Balance at 30 June 2013 DIRECTORS’ DECLARATION 1. Presents a true and fair view of the financial position of Berry Street Victoria Inc. as at 30 June 2013 and its performance for the year ended on that date. STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30 JUNE 2013 2013 $ 2012 $ 80,969,399 62,490,406 594,723 583,348 1,022,783 1,504,085 (73,109,609) (60,861,832) 9,477,296 3,716,007 CASH FLOW FROM OPERATING ACTIVITIES Receipts from operating activities Interest received Dividends received Payments to suppliers and employees Net cash generated from operating activities In the opinion of the Board of Directors the summarised financial report presented in the 2013 Annual Report is consistent with the annual statutory financial report from which it is derived and: 2. At the date of this statement, there are reasonable grounds to believe that Berry Street Victoria Inc. will be able to pay its debts as and when they fall due. For a more comprehensive understanding of the financial position of Berry Street Victoria Inc, the full financial report and auditor’s report should be read. This statement is made in accordance with a resolution of the Board of Directors and is signed for and on behalf of the Board of Directors by: Paul Wappett President Brian Watson Chair of the Investment and Finance Committee Dated this 1st day of October 2013. INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BERRY STREET VICTORIA INC Report on the Concise Financial Report The accompanying concise financial report of Berry Street Victoria Inc (the Association) consists of the Statement of Financial Position as at 30 June 2013 and the Income Statement, Statement of Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, derived from the audited financial report of Berry Street Vict oria Inc for the year ended 30 June 2013. The concise financial report does not contain all the disclosures required by the Australian Accounting Standards. Directors Responsibility for the Concise Financial Report CASH FLOW FROM INVESTING ACTIVITIES Proceeds from sale of property, plant and equipment Payment for property, plant and equipment Proceeds from sale of investments Payment for investments Net cash used in investing activities 2,135,336 2,213,974 (5,138,804) (1,171,985) 6,278,789 - (7,526,551) (1,524,135) (4,251,230) (482,146) CASH FLOW FROM FINANCING ACTIVITIES Motor vehicle lease payments (1,498,280) (3,714,443) Net cash used in financing activities (1,498,280) (3,714,443) 3,727,786 (480,582) 10,013,923 10,494,505 Net increase/decrease in cash held Cash at the beginning of the financial year Cash at the end of the financial year 26 13,741,709 10,013,923 The directors are responsible for the preparation and presentation of the concise financial report in accordance with Accounting Standard AASB 1039 Concise Financial Reports (including the Australian Accounting Interpretations), statutory and other requirements. This responsibility includes establishing and maintaining internal control relevant to the preparation of the concise financial report; selecting and applying the appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor’s Responsibility Our responsibility is to express an opinion on the concise financial report based on our audit procedures. We have conducted an independent audit, in accordance with Australian Auditing Standards, of the financial report of Berry Street Victoria Inc for the year ended 30 June 2013. Our audit report on the financial report for the year was signed on 3 October 2013 and was not subject to any modification. Australian Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report for the year is free from material misstatement. Our procedures in respect of the concise financial report included testing that the information in the concise financial report is derived from, and is consistent with, the financial report for the year, and examination on a test basis, of evidence supporting the amounts, discussion and analysis, and other disclosures which were not directly derived from the financial report for the year. These procedures have been undertaken to form an opinion whether, in all material respects, the concise financial report complies with Accounting Standard AASB 1039 Concise Financial Reports and whether the discussion and analysis complies with the requirements laid down in AASB 1039. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of the Australian professional ethical pronouncements. Auditor’s Opinion In our opinion, the concise financial report including the discussion and analysis of Berry Street Victoria Inc for the year ended 30 June 2013 complies with Accounting Standard AASB 1039 Concise Financial Reports. Moore Stephens Chartered Accountants Scott Phillips Partner Melbourne, 3 October 2013 27

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