4. (Deficit) from operations
(a) Revenue
Revenue from operations consisted of the following items:
Government funding
Capital grant funding
Parents’ fees
Management fees
Gross fundraising income
Interest revenue – bank deposits
Distributions received
Sales of publications and courses
Sponsor support
Operating rental lease revenue
Other revenue
2011
$ 2010
$
28,456,396
237,428
44,928,392
17,373,820
666,624
115,217
586,899
29,388
86,744
18,160
1,406,688 29,264,880
2,498,069
38,706,742
16,227,692
668,023
136,331
376,134
27,550
37,106
6,338
868,467
93,905,756 88,817,332
19,490 (14,164)
(703,249) (648,088)
(1,075,933) (771,127)
(345,300) (36,594)
(b) Surplus
Surplus has been arrived at after charging the following items:
Gain/(Loss) on disposal of property, plant and equipment
Depreciation of property, plant and equipment
Operating lease rental expenses:
Minimum lease payments
Net bad and doubtful debts arising from:
Other entities
5. Trade and other receivables
Trade receivables
Government funding, amounts owed by non-controlled centres and parent fees
2,694,208
1,246,827
Allowance for doubtful debts
(251,115)
(84,714)
2,443,093 1,162,113
Parent fees are paid either in advance or by the week. The average credit period on rendering of services is 7 days.
No interest is charged on the trade receivables. An allowance has been made for estimated irrecoverable trade
receivable amounts arising from the past rendering of services, determined by reference to past default experience.
The Company has provided fully for all such receivables outstanding at year end because historical experience is
that receivables past due beyond year end are generally not recoverable.
Other receivables
Other receivables and worked based centres
1,778,277
1,243,960
4,