Directors’ Report
The directors of KU Children’s Services submit herewith
the annual financial report of the company for the financial
year ended 31 December 2007. In order to comply with
the provisions of the Corporations Act 2001, the directors
report as follows:
Review of Operations
• Penelope Le Couteur - B.SC (HONS), MAICD The total reported surplus for the year was $1,764,008
(2006: $2,760,891). This surplus includes the recognition
of government funding revenue of $864,563 (2006:
$1,393,790) which has been allocated towards a
capital expenditure project in accordance with the
requirements of the corresponding funding agreement,
and Deductible Gift Recipient donations received of
$137,695 not available for general use. The remaining
surplus of $761,750 for the financial year ended 31
December 2007 includes the dividends of $405,981
received from the investments in financial assets.
• Patrick Holland - B.SC, LL.B, GRAD DIP APP.SC Changes in State of Affairs
• Deborah Homewood - M Mgt During the financial year there was no significant
change in the state of affairs of the company other
than that referred to in the financial statements or
notes thereto.
The names of the directors of the company who have held
office during or since the end of the financial year are:
• David Bryant - B.BUS, MBA
• Yooie Choi – JP BA DipED Cert Gifted Ed, Cert Residential Care
• Sarah Cordle - MA, CA
• Melissa Potter - BA, LLB
• Catherine Reid - BA (HONS )
• Sally-Anne Reid - BA.(Econ),B.SC(Maths), DIP ED
• Graham Vimpani - MB BS PhD FRACP FAF PHM
• Jane Ward - BA (HONS), DIP TEACH
• Stuart Washington
• Lorraine Young - BA, ASIA, FAIB
Subsequent Events
As at 10 April 2008, the available-for sale investments
(disclosed at Note 8) have declined in fair value by
$419,293 since year end. No purchase or sales have
been made within the portfolio.
Future Developments
The above named directors held office during and since
the end of the financial year except for:
• Patrick Holland (resigned 27 March 2007)
• Yooie Choi (appointed 29 May 2007)
Disclosure of information regarding likely developments
in the operations of the company in future financial
years and the expected results of those operations
is likely to result in unreasonable prejudice to the
company. Accordingly, this information has not been
disclosed in this report.
Dividends
The company secretaries who held office during the year
or since the end of the financial year are:
KU Children’s Services is a company limited by
guarantee. It is prohibited by its Constitution from
paying dividends to members.
• Leslie Shepherd (resigned 23 November 2007)
• Antoinette le Marchant
(resigned 9th May 2007)
• Sheridan Dudley (appointed 4 June 2007)
• Maggie Joyce (resigned 28 September 2007)
Principal Activity
The company’s principal activity in the course of the
financial year was that of providing early childhood and
family services.
KU’s 112 Annual Report 2007
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