Berry Street Web Docs Annual Report 2014

DIRECTORS’ DECLARATION STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2014 LAND AND BUILDINGS REVALUATION SURPLUS FINANCIAL ASSETS REVALUATION RESERVE TOTAL 27,792,297 3,599,185 (1,314,347) 30,077,135 5,425,458 - - 5,425,458 Revaluation - (5,000) - (5,000) Total other comprehensive income for the year - - 1,448,196 1,448,196 Balance at 30 June 2013 33,217,755 3,594,185 133,849 36,945,789 (Loss) attributable to the entity (1,902,550) - - (1,902,550) - - 2,054,421 2,054,421 31,315,205 3,594,185 2,188,270 37,097,660 RETAINED EARNINGS Balance at 30 June 2012 Profit attributable to the entity Total other comprehensive income for the year Balance at 30 June 2014 STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30 JUNE 2014 2013 $ CASH FLOW FROM OPERATING ACTIVITIES Receipts from operating activities 77,634,011 80,969,399 Interest received 435,886 594,723 Dividends received 837,225 1,022,783 (78,068,032) (73,109,609) 839,090 9,477,296 Payments to suppliers and employees Net cash generated from operating activities CASH FLOW FROM INVESTING ACTIVITIES Proceeds from sale of property, plant and equipment 34 1,622,391 2,135,336 Payment for property, plant and equipment (1,347,253) (5,138,804) Proceeds from sale of investments 8,504,923 6,278,789 (10,188,213) (7,526,551) Payment for investments Net cash used in investing activities (1,408,152) (4,251,230) Motor vehicle lease payments (529,005) (1,498,280) Net cash used in financing activities (529,005) (1,498,280) CASH FLOW FROM FINANCING ACTIVITIES Net (decrease)/increase in cash held Cash at the beginning of the financial year Cash at the end of the financial year (1,098,067) 3,727,786 13,741,709 10,013,923 12,643,642 13,741,709 1. Presents a true and fair view of the financial position of Berry Street Victoria Inc. as at 30 June 2014 and its performance for the year ended on that date. 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 Brian Watson President Chair of the Investment and Finance Committee Dated this 7th day of October 2014. iNDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BERRY STREET VICTORIA INC Report on the Financial Report We have audited the accompanying financial report of Berry Street Victoria Inc (the Association), which comprises the statement of financial position as at 30 June 2014, the income statement, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration. Directors’ Responsibility for the Financial Report The directors of the Association are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards – Reduced Disclosure Requirements, the Associations Incorporation Reform Act 2012 and the financial requirements of the Australian Charities and Not-for-profits Commission Act 2012. The Directors’ responsibility also includes establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the association’s preparation of the financial report that gives a true and fair view in order to design 35 audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Association’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report. 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 Associations Incorporation Reform Act 2012 and the Australian Charities and Not-forprofits Commission Act 2012. Opinion In our opinion, the financial report of Berry Street Victoria Inc is in accordance with the Associations Incorporation Reform Act 2012 and the Australian Charities and Not-for-profits Commission Act 2012, including: a) giving a true and fair view of the Association’s financial position as at 30 June 2014 and of its performance for the year ended on that date; and b) complying with Australian Accounting Standards – Reduced Disclosure Requirements, the Associations Incorporation Reform Act 2012 and the financial reporting requirements of the Australian Charities and Not-for-profits Regulation 2013. Moore Stephens Chartered Accountants Scott Phillips Partner Melbourne, 7 October 2014 FINANCIALS BERRY STREET ANNUAL REPORT 2014 2014 $ In the opinion of the Board of Directors the summarised financial report presented in the 2014 Annual Report is consistent with the annual statutory financial report from which it is derived and:

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