Fitzroy Learning Network Inc.
Annual Financial Report
For the year ended 30 June 2016
Notes to the Financial Statements
2016
$
Note 13
(a) Cash and Cash Equivalents
Bank balances
Petty cash
Note 13
2015
$
96,355
2,341
98,696
386,759
341
387,100
Surplus/(deficit) for the period
Add/(less) non-cash items:
Correction of prior period error
Depreciation
(116,134)
(28,837)
Operating surplus/(deficit) before changes
to working capital
Change in receivables and other assets
Change in payables
Change in employee benefits
Change in deferred income
Net cash from/(used in) operating activities
(107,777)
(83,596)
210
53,326
(5,601)
(215,002)
(274,844)
(58,788)
24,171
3,813
106,828
(7,572)
(b) Reconciliation of Cash flows from Operating Activities
Cash flows from operating activities
8,357
(75,000)
20,241
Note 14
Related party transactions
There have been no related party transactions during the period ended 30 June 2016.
(2015: Nil)
Note 15
Correction of prior period errors
The correction of prior period errors have caused the following impact on the
comparative balances for the year ended 30 June 2015:
Revenue as per 30 June 2015 audited financials
Correction
Corrected comparative balance
734,954
(75,000)
659,954
Deferred Income as per 30 June 2015 audited financials
Correction
Corrected comparative balance
190,000
75,000
265,000
12