ACN 006 985 226
DIRECTOR’S REPORT
1. Your directors submit the financial accounts for the period ended 30th June, 1999.
2. The names of the directors in office at the date of this report are:
Robert J Altamore Leighton J Boyd
Lynette A Davis Helen Freris
Karen L Knight Michael J Simpson
Tony F Starkey Gai E Wibberley
3. The Principal activities of the company in the course of the financial year were: Consumer advocacy for blind people in Australia.
No significant change in the nature of these activities occurred during the year.
4. The net amount of the Surplus amounted to $23,169.
5. The directors recommend that no money has been declared or paid as any dividend.
6. No director has received or become entitled to receive, during or since the financial year, a benefit because of a contract made by the company, controlled entity or a related body corporate with a director, a firm of which a director is a member or an entity in which a director has a substantial financial interest.
Signed in accordance with a resolution of the directors.
Director ………………………………………… Michael Simpson
Director ………………………………………… Leighton Boyd
Dated this 30th day of September 1999
BLIND CITIZENS AUSTRALIA
In the opinion of the directors of the company:
1. (a) The Profit and Loss account is drawn up so as to give a true and
fair view of the surplus or deficit of the company for the 15
month period ended 30th June, 1999.
(b) The Balance Sheet is drawn up so as to give a true and fair view of the state of affairs of the company as at the end of that financial year.
2. At the date of this statement, there are reasonable grounds to believe that the company will be able to pay its debts as and when they fall due.
3. (a) The company has kept such accounting records as correctly
record and explain the transactions and financial position of
the company.
(b) The company has kept its accounting records in such a manner as would enable true and fair accounts of the company to be prepared from time to time.
(c) The company has kept its accounts in such a manner as would enable the accounts to be conveniently and properly audited in accordance with the Corporations Law.
(d) The accounts have been properly prepared by a competent person.
This statement is made in accordance with the resolution of the Board of Directors and is signed for and on behalf of the directors by:
Director ………………………………………
Director ………………………………………
Dated this 30th day of September, 1999
BLIND CITIZENS AUSTRALIA
ACN 006 985 226
INCOME AND EXPENDITURE STATEMENT
For the Period 1 April 1998 to 30 June 1999
$ $
4445 Asset Sale Proceeds --
26956Bequests --
8626 Capital Grants--
35194 Charged Services (net) 31965
9750 Specific Purpose Income 19992
35630Contributions – Members 23536
35164Convention & Sponsorship --
4968 General Donations 3721
500 Grant – Jeffrey Blyth Foundation 1000
5658 Interest Received 4911
22791 Misc. Fundraising 5121
471188 Projects 527463
2343 Project Support--
53406Victorian Service 87776
779119TOTAL INCOME751485
1998 LESS EXPENDITURE 1999
4399Affiliations --
653 Bank charges 970
3274 Charges Services 14912
21413 Communication 27149
30497Consultancy & Fundraising 1091
40333Convention --
21480 Council 9959
4044Corporate/Legal/Accounting 3665
20633Depreciation20223
4939Development & Promotions --
1998 1999
1220Donations Programs --
24259 Funded Projects--
13714 Grant – Branches--
2953 Grant – Jeffrey Blyth Foundation --
2790Insurance 2998
17790 Maintenance, Equipment, Consumables 15405
10360 Membership & subscriptions8177
25244Meetings & conferences41112
7715 Membership support 6798
10401 Policy Implementation7367
6716 Postage & Shipping 7299
12355Printing & Stationery 32037
64114 Project Grants 33950
-- Project Support 2755
-- Project Management3000
-- Project Consultant 37940
18750 Rent & Services 15000
271407 Salaries & wages 257997
-- Staff Training & Recruitment 3424
2843 Staff Amenities 2486
-- Sundries 344
49147Superannuation 46683
36279Telephone 38324
61201 Travel & Accommodation 75239
4527 Victoria 6338
4782Workcare 5674
800232TOTAL EXPENSES728316
(21,113) NET OPERATING SURPLUS (DEFICIT)23169
BLIND CITIZENS AUSTRALIA
ACN 006 985 226
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 JUNE, 1999
NOTE 1999 1998
Operating profit or loss before abnormal
items and income tax23169 (21113)
Income tax expense attributable
to operating profit -- --
Operating profit after income tax23169 (21113)
Profit on extraordinary items-- --
Income tax expense attributable
to profit on extraordinary items-- --
Profit on extraordinary items after
income tax -- --
Operating profit and extraordinary
items after income tax23169 (21113)
Retained profits (accumulated losses)
at the beginning of the financial year 121434 142547
Total available for appropriation 144603 121434
Dividends provided for or paid -- --
Aggregate of amounts transferred
from reserves-- --
Retained profits at the end of the financial
year 144603 121434
BLIND CITIZENS AUSTRALIA
ACN 006 985 226
BALANCE SHEET
As at 30th June, 1999
1998 1999
$ $
ACCUMULATED FUNDS
142547 Opening Balance 121434
(21113)Surplus/Deficit for period 23169
121434 Total Funds144603
REPRESENTED BY:
CURRENT ASSETS
110 Cash on hand210
5628 Cash at Bank – Cheque Account 3845
6204 Sundry Debtors 4368
2735 Prepaid expenses --
14677 Total Current Assets 8423
INVESTMENTS
72291 NAB 90496
40000Trust Co. of Australia 40000
112291 Total Investments130496
1998 1999
13647Furniture & Fittings 16026
(4452)Accumulated Depreciation(5152)
97833 Plant & Equipment 92196
(38412)Accumulated Depreciation (38940)
39541Computer Equipment 50067
(19740)Accumulated Depreciation (27505)
88417 Total Fixed Assets 86692
215385TOTAL ASSETS225611
LESS LIABILITIES
17245Creditors & Accruals 9838
-- Prepaid Income 7990
53426 Unspent Project Grants 41626
20280Provision for annual leave 15554
3000 Jeffrey Blyth Foundation 6000
93951 Total Liabilities81008
121434 NET ASSETS144603
The accompanying notes form part of these financial accounts. These accounts should be read in conjunction with the attached disclaimer.
BLIND CITIZENS AUSTRALIA
ACN 006 985 226
NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE PERIOD ENDED 30TH JUNE, 1999
NOTE 1: STATEMENT OF ACCOUNTING POLICIES
(a) This is not a general purpose financial report. It is a special purpose report prepared for the members of the company to enable compliance with the requirements of the Corporations Law and the Income Tax Assessment Act 1936.
The accounts have been prepared in accordance with the requirements of the Corporations Law and the Income Tax Assessment Act 1936.
The accounts have been prepared in accordance with the requirements of the Corporations Law including the disclosure requirements of Schedule 5.
The accounts have been prepared from historical cost records, except where stated otherwise. The accrual and going concern basis of accounting have been adopted.
(b) Property, Plant and Equipment
Property, Plant and Equipment are included at cost, independent of directors’ valuation. Assets, excluding freehold land and buildings are depreciated over their useful lives or depreciation rates set by the Commissioner of Taxation.
(c) Inventories
Inventories are measured at the lower of cost and net realisable value. Costs are assigned on a first-in first-out basis and include direct materials, direct labour and an appropriated proportion of variable and fixed overhead expenses.
(d) Unearned revenue
The unearned revenue shown in the accounts will be brought to account over the life of the contract based on the interest rate implicit in the contract.
(e) Income Tax
The income of the Company is exempt from income tax by virtue of Section 23 (e) of the Income Tax Assessment Act.
(f) Employee Benefits
Provision is made in respect of the Company’s liability for annual leave at balance date.
NOTE 2: LIMITED LIABILITY OF MEMBERS
In accordance with its Memorandum and Articles of Association the Company has no less than nine members and each member undertakes to contribute a maximum of $2 in the event of winding up.
NOTE 3: OPERATING PROFIT 1999 1998
Determined after:
Charge as Expense
Auditors Remuneration:
- Auditing Accounts 950 800
- Other Services-- 400
NOTE 3: EXTRAORDINARY ITEMS
NOTE 4: RECEIVABLES
Included in Current Receivables are:
Term debtors -- --
Less unearned revenue-- --
1999 1998
NOTE 5: PROPERTY, PLANT AND EQUIPMENT
Freehold land and buildings
Directors’ valuation 19 -- --
Plant and equipment at cost 158289 151021
Less accumulated depreciation 71597 62604
Equals 86692 88417
NOTE 6: CAPITAL AND LEASING COMMITMENTS
Blind Citizens Australia has no Capital
and Leasing Commitments
NOTE 7: CONTINGENT LIABILITIES -- --
NOTE 8: EVENTS SUBSEQUENT-- --
TO BALANCE DATE