Blind Citizens Australia
ABN: 90 006 985 226

Financial Report

For the Year Ended 30 June 2024

Financial Report for the Year Ended 30 June 2024
Directors’ Report
Directors’ Declaration
Statement of Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Financial Statements
Auditors’ Independence Declaration
Independent Audit Report

The directors present their report on Blind Citizens Australia for the financial year ended 30 June 2024.
1.	General information	

Directors’ Report  	
The names of the directors in office at any time, during the reporting period are:

Names	Appointed	Ceased	
Stephen Belbin	18/10/2009	-		
Joanne Chua	01/12/2018	23/01/2024		
Helen Freris	13/10/2017	-		
Lee Chong	12/04/2023 (casual)			
	14/12/2023 (elected)	-		
Neale Huth	14/12/2023	-		
Francois Jacobs	04/12/2021	-		
Robyn Mackenzie	14/12/2023	-		
Douglas McGinn	30/11/2019	31/07/2023		
Prue Watt	19/01/2017	14/12/2023		
Andrew Webster	28/11/2020	-		
Fiona Woods	Director: 19/01/2017
President: 04/12/2021	-		
Director roles and responsibilities in BCA committees and working groups are detailed in BCA’s Year in Review 2023‑24.

About BCA 	
Blind Citizens Australia (BCA) is the peak national representative organisation of and for people in Australia who are blind or vision impaired. Since 1975, BCA has built a strong reputation for empowering Australians who are blind or vision impaired to lead full and active lives and to make meaningful contributions to our communities. BCA provides peer support and individual advocacy to people who are blind or vision impaired across Australia. Through our campaign work, we address systemic barriers by promoting the full and equal participation in society of people who are blind or vision impaired. Through our policy work, we provide advice to community and governments on issues of importance to people who are blind or vision impaired. As a disability‑led organisation, our work is directly informed by lived experience. All directors are full members of BCA and the majority of our volunteers and staff are blind or vision impaired. They are of diverse backgrounds and identities. 
BCA maintains an enduring commitment to the following principles:
•	People who are blind or vision impaired are best placed to advocate for their needs in all aspects of life. 
•	People who are blind or vision impaired can derive significant benefits from connecting with their peers and learning by sharing lived experience, skills and knowledge.
•	People who are blind or vision impaired have the right to receive high quality, accessible services which meet their needs.

•	People who are blind or vision impaired can foster positive community attitudes towards blindness, vision impairment and disability in the broader Australian community.
BCA is a company limited by guarantee, recognised as a Public Benevolent Institution and with Deductible Gift Recipient status. Any person who is blind or vision impaired in Australia may become a member. BCA’s work is led by our CEO, and conducted by a policy and advocacy team and a projects and engagement team. BCA is governed by a board of directors. We work in partnership with blindness organisations, with the disability sector and with Federal, State and Territory governments.
Message from the President 	
In accordance with the BCA constitution, BCA is governed by a board of up to nine directors. Directors may serve for a maximum of three consecutive three‑year terms. All directors have signed and abide by BCA's Code of Ethics and Conduct, which sets out high standards and expectations around commitment, compliance, conflicts, confidentiality, conscientiousness, communication and community. All directors agree to adhere to BCA's Board Charter, which defines for directors, individually and collectively, governance roles, key board functions, board processes, board effectiveness and review. This ensures that all directors meet their statutory and constitutional obligations through attendance at board meetings, attention to BCA governance between meetings and contributions to board committees. All directors regularly attend BCA national and branch events and contribute to our work in many other ways. 

During the reporting period, an extended board meeting was held online in July 2023. A further extended inperson meeting was held in Melbourne in February 2024.

Meetings were held each month, along with BCA’s AGM in December 2023, and a Special General Meeting to vote on changes to BCA’s Constitution in September 2023. Formal meetings occurred monthly, where the board considered financial reports, budget, risk and the impact of changes to government grant allocations on BCA’s activities and other business, and monitored its committees and operations in reference to our Strategic Plan. A summary of BCA's activities for the year can be found in our Year In Review. 

In July 2023, BCA’s CEO, Sally Aurisch resigned.  After an extensive recruitment process, the board were delighted to appoint Deb Deshayes to the role of CEO in October 2023.  We thank Sally for her commitment and contribution to BCA, and welcome Deb, who has already contributed significantly to BCA through her advocacy and management this financial year.  

Blind Citizens Australia was saddened by the passing of long time member, Peter Goebel.  It is with sincere gratitude to Peter and to his family that we acknowledge his bequest to BCA of $110,506. This bequest will enhance BCA’s activities of peer support and advocacy, and will contribute to BCA’s 50th Anniversary celebrations in 2025. This will support staff and members to come together to create change.
Acknowledgements 	
BCA would like to thank and acknowledge the following agencies, organisations and individuals for their support and commitment to the work of BCA:
•	Jeffrey Blyth Foundation
•	Shirley Fund
•	Vision Australia
•	Guide Dogs Australia
•	EverAbility
•	Department of Social Services (DSS)
•	Victorian Government through Department of Families, Fairness and Housing (DFFH)
•	Community Broadcasting Foundation (CBF)
•	National Disability Insurance Agency (NDIA)
•	Department of Social Services (DSS) via AFDO Consortium
•	NSW Government through Department of Communities and Justice
•	Melbourne Lord Mayor’s Charitable Foundation
•	Peter Goebel bequest

•	BCA Backers – members who make regular monthly donations.
•	Members who donated in response to BCA member appeals.

2.	Operating results and review of operations for the year	
Directors’ Declaration
Operating results 	
This is the second year that BCA has adopted Australian Accounting Standards AASB 15 and AASB 1058 for revenue recognition. For further details refer to Note 1(k) below.
For the financial year ended 30 June 2024, BCA recorded an operating deficit (excluding other income) of $540,174, compared with a surplus of $198,837 the previous year. After including unrealised gains on investments, the net deficit for the year was $491,114 (2023: surplus of $258,388).
The change in operating results between 2023 and 2024 reflects various changes in the timing of revenue streams and operating costs. BCA held a restricted reserve at 30 June 2023 of $682,255 comprised of grant income in advance for spending in 2024. In December 2023, BCA received a bequest of $110,506 which was set aside in a separate reserve for future use. Funds from the bequest but not those from the restricted reserve are included in the 2024 operating results.
The total surplus available after reserve transfers was $31,574 (2023: $187,008).
Signed in accordance with a resolution of the Board of Directors:
Director:  Helen Freris		
Dated this 13th day of November 2024.
The following page contains a scanned image of the signed version of the above Operating results report.

The directors of the entity declare that:
•	there are reasonable grounds to believe that Blind Citizens Australia is able to pay all of its debts, as and when they become due and payable; and
•	the financial statements and notes satisfy the requirements of the Australian Charities and Not‑for‑profits Commission Act 2012 (Cth).
Signed in accordance with subsection 60.15(2) of the Australian Charities and Not‑for‑profit Commission Regulation 2022
This declaration is made in accordance with a resolution of the Board of Directors.

Director: Helen Freris

Dated this 13th day of November 2024.

The following page contains a scanned image of the signed version of the above Directors’ Declaration.

Statement of Comprehensive Income
	Note	2024
$	2023
$	
Revenue from ordinary activities	3(a)		1,305,304			2,051,686		
Other revenue	3(b)		30,194			90,287		
Total operating revenue			1,335,498			2,141,973		
Meeting expenses			784			5,050		
Consultancy expenses			81,283			52,304		
Employment expenses			1,603,153			1,701,539		
Office expenses			172,901			171,947		
Travel expenses			17,551			12,296		
Total operating expenses			1,875,672			1,943,136		
Surplus/(deficit) from ordinary activities 			(540,174)			198,837		
Other income	3(c)		49,060			59,551		
Total net surplus/(deficit) for the year			(491,114)			258,388		
Other comprehensive income			-			-		
Total comprehensive income for the year			(491,114)			258,388		

Statement of Financial Position
	Note	2024
$	2023 
$	
ASSETS				
CURRENT ASSETS				
Cash and cash equivalents	4		451,274			979,109		
Trade and other receivables	5		101,462			126,114		
Other assets	6		13,447			46,821		
Investments			644,244			610,038		
TOTAL CURRENT ASSETS			1,210,427			1,762,082		
NON‑CURRENT ASSETS				
Property, plant and equipment	7		1,934			26,188		
TOTAL NON‑CURRENT ASSETS			1,934			26,188		
TOTAL ASSETS			1,212,361			1,788,270		
LIABILITIES				
CURRENT LIABILITIES				
Trade and other payables	8		166,524			189,296		
Employee benefits	9		95,128			151,074		
TOTAL CURRENT LIABILITIES			261,652			340,370		
NON‑CURRENT LIABILITIES				
Employee benefits	9		18,430			24,507		
TOTAL NON‑CURRENT LIABILITIES			18,430			24,507		
TOTAL LIABILITIES			280,082			364,877		
NET ASSETS			932,279			1,423,393		

		2024
$	2023
$	
EQUITY				
Unrestricted reserve			-			682,255		
Consolidation reserve			510,735			510,735		
Unrestricted reserve			110,506			-		
Accumulated surpluses/(deficits)			311,038			230,403		
TOTAL EQUITY			932,279			1,423,393		

Statement of Changes in Equity
2024		
		Accumulated surpluses
$	Consolidation reserve
$	Restricted reserve
$	Unrestricted reserve
$	Total
$	
Balance at 1 July 2023			230,403			510,735			682,255			-			1,423,393		
Surplus/(deficit) for the year			(491,114)			-			-			-			(491,114)		
Transfer to/(from) reserves			571,749			-			(682,255)			110,506			-		
Balance at 30 June 2024			311,038			510,735			-			110,506			932,279		
2023							
		Accumulated surpluses
$	Consolidation reserve
$	Restricted reserve
$	Unrestricted reserve
$	Total
$	
Balance at 1 July 2022			-			494,579			670,426			-			1,165,005		
Surplus for the year			258,388			-			-			-			258,388		
Transfer to/(from) reserves			(27,985)			16,156			1,812,392			-			1,800,563		
Transfer to/(from) reserves			-			-			(1,800,563)			-			(1,800,563)		
Balance at 30 June 2023			230,403			510,735			682,255			-			1,423,393		

Statement of Cash Flows
	Note	2024
$	2023
$	
CASH FLOWS FROM OPERATING ACTIVITIES:				
Receipts from operating activities			1,499,345			2,256,611		
Interest received			5,002			432		
Payments to suppliers & employees			(2,030,208)			(2,006,445)		
Net cash provided by operating activities	15(b)		(525,861)			250,598		

CASH FLOWS FROM INVESTING ACTIVITIES:				
Purchase of plant and equipment			(1,974)			(14,785)		
Proceeds from sale of investments			-			640,450		
Net cash provided by/(used in) investing activities			(1,974)			625,665		

Net increase/(decrease) in cash and cash equivalents held			(527,835)			876,263		
Cash and cash equivalents at beginning of year			979,109			102,846		
Cash and cash equivalents at end of financial year	4		451,274			979,109		

Notes to the Financial Statements
The financial statements are for Blind Citizens Australia as an individual entity, incorporated and domiciled in Australia. Blind Citizens Australia is a Company limited by guarantee.

1	Summary of Material Accounting Policies	
(a)		Basis of Preparation 	

This financial report is a special purpose financial report prepared in order to satisfy the financial reporting requirements of the Australian Charities and Not‑for‑profits Commission Act 2012 (Cth). The Board has determined that the Company is a not‑for‑profit entity for financial reporting purposes.
The financial statements have been prepared in accordance with the minimum requirements of the Australian Charities and Not‑for‑profits Commission Act 2012 (Cth) and therefore comply with the following Australian Accounting Standards as issued by the Australian Accounting Standard Board:   
•	AASB 101 Presentation of Financial Statements;
•	AASB 107 Statement of Cash Flows;
•	AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors;
•	AASB 1048 Interpretation of Standards;
•	AASB 124 Related Party Disclosure; and 
•	AASB 1054 Australian Additional Disclosures.
These special purpose financial statements comply with all the recognition and measurement requirements in Australian Accounting Standards.
The financial report, except for the cash flow information, has been prepared on an accrual basis is based on historical costs and does not take into account changing money values or, except where specifically stated, current valuations of non‑current assets. The amounts presented within the financial statements have been rounded to the nearest dollar.

(b)	Comparative Figures	
When the Company applies an accounting policy retrospectively, makes a retrospective restatement or reclassifies items in its financial statements, details have been disclosed in the following notes to the financial statements.
(c)		Cash and Cash Equivalents	
Cash and cash equivalents include cash on hand, deposits held at call with banks, other short‑term highly liquid investments which are convertible to a known amount of cash and subject to an insignificant risk of change in value. 
(d)	Property, Plant and Equipment	
Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses.  Cost includes expenditure that is directly attributable to the acquisition of the item.
The carrying amount of property, plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount of these assets.  The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets employment and subsequent disposal.  The expected net cash flows have not been discounted to their present value in determining recoverable amounts.
Plant and equipment that have been contributed at no cost, or for nominal cost are valued and recognised at the fair value of the asset at the date it is acquired.

Depreciation
The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding freehold land, is depreciated on a diminishing value basis over the asset's useful life to the Company commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. Land is not depreciated.
The depreciation rates used for each class of depreciable assets are:
Class of Fixed Asset	Depreciation Rate	
Plant and equipment	          20%‑33%		
The assets' residual values, depreciation methods and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.
An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains and losses are included in the statement of profit or loss and other comprehensive income.

(e)		Financial Instruments	
Financial instruments are recognised initially on the date that the Company becomes party to the contractual provisions of the instrument.
On initial recognition, all financial instruments are measured at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction costs are expensed as incurred).
Financial assets
All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification of the financial assets.
Classification 
On initial recognition, the Company classifies its financial assets into the following categories, those measured at:
•	amortised cost
•	fair value through profit or loss ‑ FVTPL
•	fair value through other comprehensive income ‑ equity instrument (FVOCI ‑ equity)
•	fair value through other comprehensive income ‑ debt investments (FVOCI ‑ debt)

Financial assets are not reclassified subsequent to their initial recognition unless the Company changes its business model for managing financial assets.
Amortised cost
The Company's financial assets measured at amortised cost comprise trade and other receivables and cash and cash equivalents in the statement of financial position.
Subsequent to initial recognition, these assets are carried at amortised cost using the effective interest rate method less provision for impairment.
Interest income, foreign exchange gains or losses and impairment are recognised in profit or loss.  Gain or loss on derecognition is recognised in profit or loss.
Financial assets through profit or loss 
All financial assets not classified as measured at amortised cost or fair value through other comprehensive income as described above are measured at FVTPL.
Net gains or losses, including any interest or dividend income are recognised in profit or loss.

Impairment of financial assets 
Impairment of financial assets is recognised on an expected credit loss (ECL) basis for the following assets:
•	financial assets measured at amortised cost
•	debt investments measured at FVOCI
When determining whether the credit risk of financial assets has increased significantly since initial recognition and when estimating ECL, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort.  This includes both quantitative and qualitative information and analysis based on the Company's historical experience and informed credit assessment and including forward looking information.
The Company uses the presumption that an asset which is more than 30 days past due has seen a significant increase in credit risk.
The Company uses the presumption that a financial asset is in default when:
•	the other party is unlikely to pay its credit obligations to the Company in full, without recourse to the Company to actions such as realising security (if any is held); or
•	the financial asset is more than 90 days past due.

Credit losses are measured as the present value of the difference between the cash flows due to the Company in accordance with the contract and the cash flows expected to be received.  This is applied using a probability weighted approach.
Trade receivables and contract assets 
Impairment of trade receivables and contract assets have been determined using the simplified approach in AASB 9 which uses an estimation of lifetime expected credit losses.  The Company has determined the probability of non‑payment of the receivable and contract asset and multiplied this by the amount of the expected loss arising from default.
The amount of the impairment is recorded in a separate allowance account with the loss being recognised in finance expense.  Once the receivable is determined to be uncollectable then the gross carrying amount is written off against the associated allowance.
Where the Company renegotiates the terms of trade receivables due from certain customers, the new expected cash flows are discounted at the original effective interest rate and any resulting difference to the carrying value is recognised in profit or loss.
Other financial assets measured at amortised cost
Impairment of other financial assets measured at amortised cost are determined using the expected credit loss model in AASB 9.  On initial recognition of the asset, an estimate of the expected credit losses for the next 12 months is recognised.  Where the asset has experienced significant increase in credit risk then the lifetime losses are estimated and recognised.

Financial liabilities
The Company measures all financial liabilities initially at fair value less transaction costs, subsequently financial liabilities are measured at amortised cost using the effective interest rate method.
The financial liabilities of the Company comprise trade payables and lease liabilities.
(f)   Impairment of Tangible and Intangible Assets 	
At the end of each reporting year, the Company reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Value in use is either the discounted cash flows relating to the asset or depreciated replacement cost if the criteria in AASB 136 'Impairment of Assets' are met. Any excess of the asset's carrying value over its recoverable amount is expensed to the statement of profit or loss and other comprehensive income.
(g)	Leases 	
Right‑of‑Use Asset
At the lease commencement, the Company recognises a right‑of‑use asset and associated lease liability for the lease term.  The lease term includes extension periods where the Company believes it is reasonably certain that the option will be exercised. The right‑of‑use asset is measured using the cost model where cost on initial

recognition comprises of the lease liability, initial direct costs, prepaid lease payments, estimated cost of removal and restoration less any lease incentives received.
The right‑of‑use asset is depreciated over the lease term on a straight line basis and assessed for impairment in accordance with the impairment of assets accounting policy.
Lease Liability
The lease liability is initially measured at the present value of the remaining lease payments at the commencement of the lease.  The discount rate is the rate implicit in the lease, however where this cannot be readily determined then the Company's incremental borrowing rate is used.
Subsequent to initial recognition, the lease liability is measured at amortised cost using the effective interest rate method.  The lease liability is remeasured whether there is a lease modification, change in estimate of the lease term or index upon which the lease payments are based (e.g. CPI) or a change in the Company's assessment of lease term.
Where the lease liability is remeasured, the right‑of‑use asset is adjusted to reflect the remeasurement or is recorded in profit or loss if the carrying amount of the right‑of‑use asset has been reduced to zero.

(h)	Trade and Other Payables	
Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the Company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.
(i)		Provisions	
Provisions are recognised when the Company has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.
(j)		Income Tax	
The Company is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.
(k)		Revenue and Other Income	
Grant Revenue
Operating Grants ‑ Under AASB 15
Where grant income arises from an agreement which is enforceable and contains sufficiently specific performance obligations, then the revenue is recognised when control of each performance obligation is satisfied. Each performance obligation is considered to ensure that the revenue recognition reflects the transfer of control and within grant agreements there may be some performance obligations where control transfers at a point in time and others which have continuous transfer of control over the life of the contract. Where control is transferred over time, generally the input methods being either costs

or time incurred are deemed to be the most appropriate method to reflect the transfer of benefit.

Operating Grants ‑ Under AASB 1058
Assets arising from grants in the scope of AASB 1058 (i.e. agreements that are not enforceable or do not have sufficiently specific performance obligations) are recognised at their fair value when the grant is received. The Company then considers whether there are any related liability or equity items associated with the asset which are recognised in accordance with the relevant accounting standard. Once the assets and liabilities have been recognised, then income is recognised for any difference between the recorded asset and liability.

Interest Revenue
Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument. 

Revenue from the Rendering of Services
Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.

(l)	Goods and Services Tax (GST)	
Revenue, expenses and assets are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).
Receivables and payable are stated inclusive of GST.
Cash flows in the statement of cash flows are included on a gross basis and the GST component of cash flows arising from investing and financing activities which is recoverable from, or payable to, the taxation authority is classified as operating cash flows.
(m)	Adoption of New and Revised Accounting Standards 	
The Company has adopted all standards which became effective for the first time at 30 June 2024. The adoption of these standards has not caused any material adjustments to the reported financial position, performance or cash flow of the Company.
The Company has adopted the amendments to AASB 101 Presentation of Financial Statements which require only the disclosure of material accounting policy information rather than significant accounting policies.  Material policy information satisfy one of the following requirements:
•	Relates to change in accounting policy;
•	Policy has been developed in the absence of an explicit accounting standard requirement;
•	Documents an accounting policy choice;
•	Relates to an area of significant judgement or estimation; or
•	Relates to a complex transaction and is required to explain the treatment to the users.

(n)	New Accounting Standards for Application in Future Periods 	
The AASB has issued new and amended Accounting Standards and Interpretations that have mandatory application dates for future reporting periods. The Standard AASB 2023‑3 Amendments to Australian Accounting Standards Classification of Liabilities as Current or Non‑current amends AASB 101 to classify requirements for the presentation of liabilities in the statement of financial position as current or non‑current and the standard AASB 2022‑5 Amendment to Lease Liability in a Sale and Leaseback, Amends AASB 16 Leases to add subsequent measurement for sale and leaseback transactions that satisfy the requirements in AASB 15 Revenue from Contracts with Customers to be account for as a sale. The Company has decided against early adoption of these Standards. The Company does not expect the effect of either of these statements to be material.
2	Critical Accounting Estimates and Judgements 	
The directors make estimates and judgements during the preparation of these financial statements regarding assumptions about current and future events affecting transactions and balances.
These estimates and judgements are based on the best information available at the time of preparing the financial statements, however as additional information is known then the actual results may differ from the estimates.
The material estimates and judgements made have been described below.

Key Estimates ‑ Provisions  	
As described in the accounting policies, provisions are measured at management’s best estimate of the expenditure required to settle the obligation at the end of the reporting period. These estimates are made taking into account a range of possible outcomes and will vary as further information is obtained.

3	Revenue and Other Income	
(a)	Revenue from Ordinary Activities  	
		2024
$	2023
$	
‑ Government funding			491,002			1,304,900		
‑ Grants			491,589			507,492		
‑ Fundraising			322,713			239,294		
Total Revenue			1,305,304			2,051,686		
(b)	Other income details 	
	2024
$	2023
$	
Other income:			
‑ Other income		2,169			14,048		
‑ Investment income		24,032			75,807		
‑ Gain on sale of assets		-			-		
‑ Interest income		3,993			432		
		30,194			90,287		
(c)	Other Income  	
		2024
$	2023
$	
				
Gain/(loss) on investments			49,060			59,551		

4	Cash and Cash Equivalents	
		2024
$	2023
$	
Bank balances			451,274			979,109		
			451,274			979,109		
5	Trade and Other Receivables	
		2024
$	2023
$	
Current				
Trade receivables			101,462			126,114		
			101,462			126,114		
6	Other Assets	
	2024
$	2023
$	
Accrued income		7,748			37,383		
Prepayments		5,699			9,438		
		13,447			46,821		

7	Property, Plant and Equipment	
	2024
$	2023
$	
Plant and equipment			
Works in progress			
At cost		-			20,847		
Total capital works in progress		-			20,847		
Plant and equipment			
At cost		11,947			11,947		
Accumulated depreciation		(11,947)			(11,947)		
Total plant and equipment		-			-		
Computer equipment			
At cost		36,276			34,302		
Accumulated depreciation		(34,342)			(28,961)		
Total computer equipment		1,934			5,341		
Total plant and equipment		1,934			26,188		

(a)	Movements in Carrying Amounts 	
		Works in Progress
$	Computer Equipment
$	Total
$	
Balance at the beginning of year			20,847			5,341			26,188		
Additions			-			1,974			1,974		
Disposals			(20,847)			-			(20,847)		
Depreciation			-			(5,381)			(5,381)		
Balance at 30 June 2024			-			1,934			1,934		

8	Trade and Other Payables	
		2024
$	2023
$	
Current				
Trade payables			39,747			439		
GST payable			9,383			86,109		
Accrued expense			79,011			101,216		
Branch funds			2,059			-		
Other payables			36,324			1,532		
			166,524			189,296		

Trade and other payables are unsecured, non‑interest bearing and are normally settled within 30 days.  The carrying value of trade and other payables is considered a reasonable approximation of fair value due to the short‑term nature of the balances.
9	Employee Benefits	
	2024
$	2023
$	
Current liabilities			
Annual leave		83,627			136,612		
Long service leave		11,501			14,462		
		95,128			151,074		
Non‑current liabilities			
Long service leave		18,430			24,507		
		18,430			24,507		

(a)	Movements in Carrying Amounts  	
		
	2024
$	2023
$	
Balance at the beginning of year		175,581			144,001		
Additional provisions raised during the year		50,401			71,983		
Amounts used		(112,423)			(40,403)		
Balance at the ending of year		113,559			175,581		
10		 Interests of Key Management Personnel	

Blind Citizens Australia has only one key management personnel as at 30 June 2024. Hence, Blind Citizens Australia is not required to disclose the remuneration.

11 Surplus Available After Reserve Transfers for the Year      	
	2024
$	2023
$	
Surplus/(deficit) from ordinary activities		(540,174)			198,837		
Net change in restricted reserve		682,254			(11,829)		
Net change in unrestricted reserve		(110,506)			-		
Total Surplus/(Deficit) Available After Reserve Transfers for the Year		31,574			187,008		

12	 Auditors' Remuneration	
	2024
$	2023
$	
‑ Remuneration of the auditor Crowe Audit Australia for auditing of the financial statements*		9,410			7,845		
Total		9,410			7,845		

*The fee includes assistance with the compilation of financial statements which is routine and mechanical  and with appropriate safeguard to independence.
13	Related Party Transactions	
(a)	Transactions with Related Parties  	
Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated.
14	Financial Risk Management	
The main risks Blind Citizens Australia is exposed to through its financial instruments are credit risk, liquidity risk and market risk consisting of interest rate risk, foreign currency risk and equity price risk.
The Company's financial instruments consist mainly of deposits with banks, local money market instruments, short‑term investments, accounts receivable and payable and leases.

The totals for each category of financial instruments, measured in accordance with AASB 9 as detailed in the accounting policies to these financial statements, are as follows:
		2024
$	2023
$	
Financial assets				
Cash and cash equivalents	4		451,274			979,109		
Trade and other receivables	5		101,462			126,114		
Other assets	6		13,447			46,821		
Investments			644,244			610,038		
Total financial assets			1,210,427			1,762,082		
Financial liabilities				
Trade and other payables	8		166,524			189,296		
Total financial liabilities			166,524			189,296		

Objectives, policies and processes
The Board of Directors have overall responsibility for the establishment of Blind Citizens Australia’s financial risk management framework. This includes the development of policies covering specific areas such as foreign exchange risk, interest rate risk, liquidity risk and credit risk.
Risk management policies and systems are reviewed regularly to reflect changes in market conditions and Blind Citizens Australia’s activities.

The day‑to‑day risk management is carried out by Blind Citizens Australia’s finance function under policies and objectives which have been approved by the Board of Directors.  The management has been delegated the authority for designing and implementing processes which follow the objectives and policies. This includes monitoring the levels of exposure to interest rate and foreign exchange rate risk and assessment of market forecasts for interest rate and foreign exchange movements.
The Board of Directors receives monthly reports which provide details of the effectiveness of the processes and policies in place.
Mitigation strategies for specific risks faced are described below:

Market risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices.
15	Cash and Cash Equivalents	
(a)	 Reconciliation of Cash	
	Note	2024
$	2023
$	
Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the statement of financial position as follows:				
Cash and cash equivalents	4		451,274			979,109		
			451,274			979,109		

(b)	Reconciliation of result for the year to cashflows from operating activities  	
Reconciliation of net income to net cash provided by operating activities:
	2024
$	2023
$	
Surplus/(deficit) for the year		(491,114)			258,388		
Cash flows excluded from profit attributable to operating activities			
Non‑cash flows in profit:			
 ‑ depreciation		5,381			9,386		
 ‑ unrealised gains on investments		(34,206)			-		
 ‑ net loss on write‑off of plant and equipment		20,847			392		
Changes in assets and liabilities:			
 ‑ (increase)/decrease in trade and other receivables		24,652			(113,279)		
 ‑ (increase)/decrease in prepayments		33,374			(981)		
 ‑ increase/(decrease) in trade and other payables		(22,772)			65,111		
 ‑ increase/(decrease) in employee benefits		(62,023)			31,581		
Cashflows from operations		(525,861)			250,598		
16 Contingent Liabilities and Contingent Assets	
In the opinion of the Directors, the Company did not have any contingencies at 30 June 2024 (30 June 2023:Nil).

17 Capital and Leasing Commitments 
(a)	Significant operating lease commitments  
The Company has a 12 month leasing agreement for the use of office space and facilities. This has been accounted for as rental expense.
(b)	Significant capital lease commitments  
The Company does not have any capital lease commitments.
18 Economic Dependence 
The Company is dependent on federal and state agencies for a material amount of its revenue used to operate the business.  At the date of this report, the Board has no reason to believe that these agencies will not continue to support the Company.
19 Events After the End of the Reporting Period
There are no subsequent events as at reporting date to be disclosed or adjusted for.
20 Company Details
The registered office and principal place of business of the company is:
Blind Citizens Australia
Ross House
247 251 Flinders Lane
MELBOURNE VIC 3000

Auditors’ Independence Declaration to the Members of Blind Citizens Australia

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2024, there have been:
(i)	no contraventions of the auditor independence requirements as set out in section 60‑40 of the Australian Charities and Not‑for‑profits Commission Act 2012 in relation to the audit; and
(ii)	no contraventions of any applicable code of professional conduct in relation to the audit.

Crowe Audit Australia

Alison Flakemore
Senior Partner

Dated this 13 day of November 2024.
Hobart, Tasmania.

The following page contains an image of the signed version of the above Auditors’ Independence Declaration.

Independent Audit Report to the Members of Blind Citizens Australia

Opinion 
We have audited the financial report of Blind Citizens Australia, which comprises the statement of financial position as at 30 June 2024, the statement of comprehensive income, the statement of changes in equity, the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of material accounting policies, and the Director's declaration. 

In our opinion the accompanying financial report of the Company has been prepared in accordance with the Australian Charities and Not‑for‑profits Commission Act 2012, including: 
•	giving a true and fair view of the Company’s financial position as at 30 June 2024 and of its financial performance and cash flows for the year then ended; and 
•	complying with Australian Accounting Standards to the extent described in Note 1 to the financial statements and Division 60 of the Australian Charities and Not‑for‑profits Commission Regulation 2022. 

Basis for Opinion 

We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standrads) (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. 

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

Emphasis of Matter – Basis of Accounting
We draw attention to Note 1 to the financial statements, which describe the basis of accounting. The financial report has been prepared to assist the Company to meet the requirements of the Australian Charities and Not‑for‑profits Commission Act 2012 (Cth). As a result, the financial report may not be suitable for another purpose. Our opinion is not modified in respect of this matter.

Other Information
The Directors are responsible for the other information. The other information comprises the Director’s Report the year ended 30 June 2024, but does not include the financial report and our auditor’s report thereon. 

Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. 

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of the Board for the Financial Report
The Directors are responsible for the preparation and fair presentation of the financial report and have determined that the basis of preparation described in Note 1 to the financial statements is appropriate to meet the needs of the members in accordance with the financial reporting requirements of the applicable legislation and for such internal control as the Directors determine necessary to enable the preparation and fair presentation of a financial report that is free from material misstatement, whether due to fraud or error.

In preparing the financial report, the Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. 

Auditor’s Responsibilities for the Audit of the Financial Report 
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. 

As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

•	Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.

•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Directors.

•	Conclude on the appropriateness of the Director’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

•	Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the Board regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the audit.

Crowe Audit Australia
Alison Flakemore 
Senior Partner

Dated this 13 day of November 2024.
Hobart, Tasmania
The following page contains an image of the signed version of the above page of the Independent Audit Report.