CĐNVTD WA – Annual Reports 2012 – 2013

Vietnamese Community in Australia WA Chapter Incorporate 

Financial Statements

For the year ended 30 June 2012 Vietnamese Commnunity in Australia WA Chapter Incorporate 

Contents 

Advisory Committee’ Report

Statement of Comprehensive Income

Statement of Financial Position

Statement of Cash Flows

Notes to the Financial Statements

Advisory Committee’ Declaration

Compilation Report

Depreciation Schedule

Revenue and Expenditure Statement 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Advisory Committee’s Report 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Advisory Committee’s Report 

ADVISORY COMMITTEE’S REPORT 

Your advisory committee members submit the financial report of The Vietnamese Community in Australia WA (“the Vietnamese Community WA”) for the financial year ended 30 June 2012.

Committee Members 

The names of advisory committee members throughout the year and at the date of this report unless otherwise stated are as follows:

XXXXX XXXXXXXX

XXXXX XXXXXXXX

XXXXX XXXXXXXX

XXXXX XXXXXXXX – elected xx/xx/xx

Principal Activities and Objectives 

The principal activities and objectives of the Vietnamese Community in Australia WA during the year were to receive, hold and manage funds and property received through Vietnamese Community In Western Australia, LotteryWest and other sources for promoting and benefiting the general welfare (including but not limited to health, education, cultural development, aged care and community services) of the Vietnamese people primarily in the State of Western Australia.

Significant Changes 

No significant change in the nature of these activities occurred during the year and to the date of this report. 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Advisory Committee’s Report 

ADVISORY COMMITTEE’S REPORT 

Operating Result 

The Surplus of Revenue of the Vietnamese Community WA for the financial year after providing for income tax amounted to:

Year ended Year ended

30 June 2012 30 June 2011

$ $

65,750 11,368

Distributions Paid or Recommended 

A total of $ 300 (2011 $0) has been paid or distributed to members or associates of members in accordance with the Vietnamese Community WA objectives and constitution.

Future distributions are determined and recommended as and when required.

After Balance Date Events 

No matters or circumstances have arisen since the end of the financial year to the date of this report which significantly affected or may significantly affect the operations of the Vietnamese Community WA, the results of those operations, or the state of the affairs of the Vietnamese Community WA in subsequent financial years.

Future Developments 

The Vietnamese Community WA expects to maintain the present status and level of operations and hence there are no likely developments in the operations in future financial years.

Environmental Issues 

The Vietnamese Community WA ‘s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory.

Advisory Committee Benefits 

No member in the committee has received or has become entitled to receive, during or since the financial year, a benefit because of a contract made by the Vietnamese Community WA. 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Advisory Committee’s Report 

Indemnifying Officer or Auditor 

No indemnities have been given or agreed to be given or insurance premiums paid or agreed to be paid, during or since the end of the financial year, to any person who is or has been a member an Advisory Committee member, or auditor of the Vietnam Community WA.

Proceedings on Behalf of the Vietnam Community in Australia 

No person has applied for leave of Court to bring proceedings on behalf of the Vietnam Community WA .

Rounding 

The Vietnam Community WA is of a kind referred to in ASIC Class Order 98/100 dated 10 July 1998 and, in accordance with that Class Order, amounts in the financial report and director’s report have been rounded off to the nearest thousand dollars, unless otherwise stated.

Auditor’s Independence Declaration 

The auditor’s independent declaration for the year ended 30 June 2012 has been received and can be found on Page x.

This statement is made in accordance with a resolution of all the Members of the Advisory Committee.

Signed for and on behalf of the Advisory Committee at Perth

on this day of by:

…………………………………………………………………………………………

Xxxxx xxxxxxxx

…………………………………………………………………………………………

Xxxxx xxxxxxxx 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Advisory Committee’s Report 

AUDITOR’S INDEPENDENCE DECLARATION 

UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 

TO THE ADVISORY COMMITTEE OF THE VIETNAMESE COMMUNITY IN AUSTRALIA WA 

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2012 there have been:

i. no contraventions of the auditor independence requirements as set out in the Corporation Act 2001 in relation to the audit; and

ii. no contraventions of any applicable code of professional conduct in relation to the audit.

Signed at Perth this day of

LOUIS YIANNAKIS – Bcomm CPA

Registered Company Auditor No. 14115

389 Oxford Street

MOUNT HAWTHORN WA 6016 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Statement of Comprehensive Income For the year ended 30 June 2012 Note 2012 2011 $ $ 

Revenue 150,080 105,790

Other revenue 27 10

Total Revenue 150,107 105,800 

Marketing (697) (617)

Administration expenses (83,661) (93,815)

Surplus Revenue over Expenses before income tax 65,750 11,368 

Income tax

Surplus Revenue at end of the year 65,750 11,368 

Accumulated funds at beginning of the year 421,971 410,604

Total available for appropriation 487,721 421,971 

Dividends provided for or paid as per the constitution 300

Accumulated funds at beginning of the year 487,721 421,971 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Statement of Cash Flows For the year ended 30 June 2012 2012 2011 

Current Assets 

Cash assets 1 90,141 41,703

Total Current Assets 90,141 41,703 

Non-Current Assets 

Property, plant and equipment 2 397,280 380,269

Total Non-Current Assets 397,280 380,269 

Total Assets 487,421 421,972 

Net Assets 487,421 421,972 

Equity 

Total Funds Available 487,421 421,972

Total Equity 487,421 421,972 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Statement of Cash Flows For the year ended 30 June 2012 2012 2011 

Cash Flow From Operating Activities 

Receipts from customers 150,080 105,790

Payments to Suppliers and employees (78,328) (94,432)

Interest received 27 10

Net cash provided by operating activities (note 2) 71,780 11,368 

Cash Flow From Investing Activities 

Payment for: 

Payments for property, plant and equipment (23,041)

Net cash provided by (used in) investing activities (23,041) 

Cash Flow From Financing Activities 

Proceeds of raising funds

Dividends paid (300)

Net cash provided by (used in) financing activities (300)

Net increase (decrease) in cash held 48,439 

Cash at the beginning of the year 41,703 30,334

Cash at the end of the year (note 1) 90,141 41,703 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Statement of Cash Flows For the year ended 30 June 2012 2012 2011 

Note 1. Reconciliation Of Cash 

For the purposes of the statement of cash flows, cash includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts.

Cash at the end of the year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:

Cash At Bank 56,190 38,360

Cash At Bank – School 5116 18,820 2,523

Short term Deposit 10,000.00

Cash on hand 5,131 819

90,141 41,703

Note 2. Reconciliation Of Net Cash Provided By/Used In Operating Activities To Net Profit 

Revenue over Expenses 65,450 11,368

Depreciation 6,030

Net cash provided by operating activities 71,480 11,368 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Notes to the Financial Statements For the year ended 30 June 2012 2012 2011 

Note 1: Cash assets 

Bank accounts:

Cash At Bank 56,190 38,360

Cash At Bank – School 5116 18,820 2,523

Short term Deposit 10,000

Other cash items:

Cash on hand 5,131 819

90,141 41,703 

Reconciliation of Cash: 

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 90,141 41,703

90,141 41,703 

Note 2: Property, Plant and Equipment 

Buildings:

– At cost 370,394 370,394

370,394 370,394

Plant and equipment:

– At cost 32,916 9,875

– Less: Accumulated depreciation (6,030)

26,886 9,875

Total Property, Plant and Equipment 397,280 380,269 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Directors’ Declaration 

The Advisory Committee of the Vietnamese Community WA declares that:

1. the financial statements and notes are in accordance with the Corporations Act 2001 and:

(a) comply with Accounting Standards and the Corporations Regulations; and

(b) give a true and fair view of the Vietnamese Community WA ‘s financial position as at 30 June 2012 and of its performance for the year ended on that date;

2. in the Advisory Committee ‘s opinion, there are reasonable grounds to believe that the Vietnamese Community WA will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Advisory Committee .

Dated: 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Compilation Report to Vietnamese Community in Australia WA Chapter Incorporate 

We have compiled the accompanying general purpose financial statements of Vietnamese Community in Australia WA Chapter Incorporate, which comprise the Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows and Statement of Financial Position as at 30 June 2012, a summary of significant accounting policies and other explanatory notes. These have been prepared in accordance with the financial reporting framework described in Note 1 to the financial statements.

The Responsibility of the Advisory Committee of Vietnamese community in Australia WA Chapter Incorporate 

The Advisory Committee of Vietnamese community in Australia WA Chapter Incorporate is solely responsible for the information contained in the general purpose financial statements and has determined that the financial reporting framework used is appropriate to meet the Advisory Committee ‘s needs and for the purpose that the financial statements were prepared.

Our Responsibility 

On the basis of the information provided by the Advisory Committee of Vietnamese Community in Australia WA Chapter Incorporate, we have compiled the accompanying general purpose financial statements in accordance with the financial reporting framework and APES 315: Compilation of Financial Information.

Our procedures use accounting expertise to collect, classify and summarise the financial information, which the Advisory Committee provided, in compiling the financial statements. The general purpose financial statements were compiled exclusively for the benefit of the Advisory Committee and members of Vietnamese community in Australia WA Chapter Incorporate. We do not accept responsibility to any other person for the contents of the general purpose financial statements.

________________________________________

23 January, 2013 Vietnamese Community in Australia WA Chapter Incorporate Depreciation Schedule for the year ended 30 June, 2012 DISPOSAL ADDITION DEPRECIATION PROFIT LOSS Total Priv OWDV Date Consid Date Cost Value T Rate Deprec Priv CWDV Upto + Above Total – Priv

Plant and Equipment 

Executive Leather Chair 0.00 0 0.00 200 0 0 200 P 33.33 67 0 133 0 0 0 0

Pamphlet Display Shelf 0.00 0 0.00 80 0 0 80 P 25.00 20 0 60 0 0 0 0

Carrier Split System Aircon0.00 0 0.00 700 0 0 700 P 25.00 175 0 525 0 0 0 0

Computer Desk 1200×7500.00 0 0.00 80 0 0 80 P 33.33 27 0 53 0 0 0 0

Drawer Desk 0.00 0 0.00 120 0 0 120 P 33.33 40 0 80 0 0 0 0

L shape & Reception Desk0.00 0 0.00 400 0 0 400 P 25.00 100 0 300 0 0 0 0

Drawer Cabinet 0.00 0 0.00 200 0 0 200 P 25.00 50 0 150 0 0 0 0

Kyocera Mita Photocopier0.00 0 0.00 500 0 0 500 P 50.00 250 0 250 0 0 0 0

Upright Electric Fan 0.00 0 0.00 30 0 0 30 P 66.67 20 0 10 0 0 0 0

Hp Laserjet 4530 Printer 0.00 0 0.00 500 0 0 500 P 33.33 167 0 333 0 0 0 0

HP Compaq dx2200mt Computer 0.00 0 0.00 300 0 0 300 P 66.67 200 0 100 0 0 0

Benq 0.00 0 0.00 50 0 0 50 P 66.67 33 0 17 0 0 0 0

Optus Net Gear Router 0.00 0 0.00 80 0 0 80 P 33.33 27 0 53 0 0 0 0

Certificate Frame 0.00 0 0.00 30 0 0 30 P 50.00 15 0 15 0 0 0 0

PCU80 Computer 0.00 0 0.00 0 0 0 0 P 66.67 33 0 0 0 0 0 0

GZ-M2 Computer 0.00 0 0.00 50 0 0 50 P 66.67 33 0 17 0 0 0 0

Quartz Clock 0.00 0 0.00 20 0 0 20 P 66.67 13 0 7 0 0 0 0

Picture frame 0.00 0 0.00 20 0 0 20 P 66.67 13 0 7 0 0 0 0

Square Wall Clock 0.00 0 0.00 20 0 0 20 P 66.67 13 0 7 0 0 0 0

Bonaire Electric Fan 0.00 0 0.00 30 0 0 30 P 66.67 20 0 10 0 0 0 0

Meeting table 0.00 0 0.00 500 0 0 500 P 25.00 125 0 375 0 0 0 0

Seat Lounge Chair 0.00 0 0.00 100 0 0 100 P 33.33 33 0 67 0 0 0 0

Seat Lounge Chair 0.00 0 0.00 50 0 0 50 P 33.33 17 0 33 0 0 0 0

Dyna Breeze 900mm drum fan 0.00 0 0.00 300 0 0 300 P 33.33 100 0 200 0 0 0

Never Fail Water cooler 0.00 0 0.00 100 0 0 100 P 33.33 33 0 67 0 0 0 0

Upright Electric Fan 0.00 0 0.00 30 0 0 30 P 66.67 20 0 10 0 0 0 0 Vietnamese Community in Australia WA Chapter Incorporate Depreciation Schedule for the year ended 30 June, 2012 DISPOSAL ADDITION DEPRECIATION PROFIT LOSS Total Priv OWDV Date Consid Date Cost Value T Rate Deprec Priv CWDV Upto + Above Total – Priv

Upright Movable 1600mm white board 0.00 0 0.00 200 0 0 200 P 33.33 67 0 133 0 0 0

Carrier Split system aircon0.00 0 0.00 700 0 0 700 P 25.00 175 0 525 0 0 0 0

Table 0.00 0 0.00 150 0 0 150 P 33.33 50 0 100 0 0 0 0

Picture frame 750×750 0.00 0 0.00 50 0 0 50 P 66.67 33 0 17 0 0 0 0

Picture Frame 800×600 0.00 0 0.00 50 0 0 50 P 66.67 33 0 17 0 0 0 0

Picture Frame 1150×480 0.00 0 0.00 50 0 0 50 P 66.67 33 0 17 0 0 0 0

Dual Dragon Frame 0.00 0 0.00 300 0 0 300 P 50.00 150 0 150 0 0 0 0

Large Vietnam Flag 0.00 0 0.00 50 0 0 50 P 33.33 17 0 33 0 0 0 0

2xLacquered Art Frame 0.00 0 0.00 200 0 0 200 P 66.67 133 0 67 0 0 0 0

Equity ROund Wall Clock0.00 0 0.00 20 0 0 20 P 66.67 13 0 7 0 0 0 0

3 x drawer desk 0.00 0 0.00 100 0 0 100 P 33.33 33 0 67 0 0 0 0

White Board 0.00 0 0.00 100 0 0 100 P 33.33 33 0 67 0 0 0 0

Meeting table 0.00 0 0.00 300 0 0 300 P 33.33 100 0 200 0 0 0 0

4 Drawer Filling Cabinet 0.00 0 0.00 200 0 0 200 P 25.00 50 0 150 0 0 0 0

3 Drawer Filling Cabinet 0.00 0 0.00 100 0 0 100 P 25.00 25 0 75 0 0 0 0

3 x Partition Panel 0.00 0 0.00 150 0 0 150 P 33.33 50 0 100 0 0 0 0

Bookshelf 900×1790 0.00 0 0.00 50 0 0 50 P 33.33 17 0 33 0 0 0 0

3x Vietnamese ladies painting 685×580 0.00 0 0.00 50 0 0 50 P 66.67 33 0 17 0 0 0

Carrier Split System Aircon0.00 0 0.00 700 0 0 700 P 25.00 175 0 525 0 0 0 0

Upright electric fan 0.00 0 0.00 30 0 0 30 P 66.67 20 0 10 0 0 0 0

20x Chrome Metal Cream Chair 0.00 0 0.00 400 0 0 400 P 66.67 267 0 133 0 0 0

25 x Metal Frame Plastic Chair 0.00 0 0.00 250 0 0 250 P 66.67 167 0 83 0 0 0

1x Kelvinator Opal Fridge 0.00 0 0.00 100 0 0 100 P 50.00 50 0 50 0 0 0 0

Table 1100×585 0.00 0 0.00 30 0 0 30 P 33.33 10 0 20 0 0 0 0

Cupboard 0.00 0 0.00 50 0 0 50 P 33.33 17 0 33 0 0 0 0

Stationery Cabinet 0.00 0 0.00 150 0 0 150 P 33.33 50 0 100 0 0 0 0

5x waiting room guest brown chair 0.00 0 0.00 125 0 0 125 P 50.00 63 0 62 0 0 0

22x Outdoor white plastic Chair 0.00 0 0.00 220 0 0 220 P 66.67 147 0 73 0 0 0 Vietnamese Community in Australia WA Chapter Incorporate Depreciation Schedule for the year ended 30 June, 2012 DISPOSAL ADDITION DEPRECIATION PROFIT LOSS Total Priv OWDV Date Consid Date Cost Value T Rate Deprec Priv CWDV Upto + Above Total – Priv

3x Partition Panel 2400×11600.00 0 0.00 150 0 0 150 P 33.33 50 0 100 0 0 0 0

Notice Board 2410 x 12200.00 0 0.00 60 0 0 60 P 50.00 30 0 30 0 0 0 0

2x Fender Loud Speaker 0.00 0 0.00 150 0 0 150 P 50.00 75 0 75 0 0 0 0

Cooking Utensil, Cutlery, Dinnerware 0.00 0 0.00 100 0 0 100 P 100.00 100 0 0 0 0 0

3x banners 375.00 11/10/11 375 0.00 0 0 11/10/11 375 375 P 33.33 90 0 285 0 0 0 0

9x Portable Electrical Power Points 8,683.75 25/01/12 8,684 0.00 0 0 25/01/12 8,684 8,684 P 25.00 934 0 7,750 0 0

25x Neon Lights 3,661.45 08/02/12 3,661 0.00 0 0 08/02/12 3,661 3,661 P 25.00 359 0 3,302 0 0 0 0

Flags 1,181.00 22/11/11 1,181 0.00 0 0 22/11/11 1,181 1,181 P 33.33 238 0 943 0 0 0 0

Sound System 4,400.00 13/02/12 4,400 0.00 0 0 13/02/12 4,400 4,400 P 25.00 416 0 3,984 0 0 0 0

1x Organ 400.00 17/03/12 400 0.00 400 0 17/03/12 400 800 P 25.00 29 0 771 0 0 0 0

Kyocera FSC8500DN Printer/Photocopier 4,339.50 12/06/12 4,339 0.00 0 0 12/06/12 4,339 4,339 P 25.00 54 0 4,285 0 0

23,040 10,225 0 23,040 33,265 6,030 0 27,268

Deduct Private Portion 0

Net Depreciation 6,030 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Revenue and Expenditure Statement For the year ended 30 June 2012 2012 2011 $ $ 

Revenue 

Donation receipts & others 150,080 105,790

Interest received 27 10

Total Revenue 150,107 105,800

Expenses 

Advertising and promotion 697 617

Bank Fees And Charges 3

Depreciation – plant 6,030

Electricity 211 177

Festival Expenses 5,930 4,100

Hire/rent of Plant & Equipment 21,983 24,355

Hire of Venue 550 1,237

Insurance 4,362 4,634

License Fees 795 775

Membership 300 749

Printing & stationery 761 3,432

Rates & land taxes

Rates & Land Taxes – Council 1,861

Rates & Land Taxes – Water 1,915 1,819

Rates & Land Taxes – Strata Levies 6,957 7,826

Registration & insurance 90

Replacements (tools, etc) 554 2,479

Security 5,544 6,439

Service fees 2,922 4,217

Sundry expenses 491 1,089

School Operating Expenses

School Operating Expenses- Bank Charges 23 3

School Operating Expenses – Class Allowa 7,500 4,400 23/01/2013 10:57 Vietnamese Community in Australia WA Chapter Incorporate Revenue and Expenditure Statement For the year ended 30 June 2012 2012 2011 $ $ 

School Operating Expenses- Teaching Aid 1,466 462

School Operating Expenses- Student Prize 3,019 2,781

School Operating Expenses- Hire of Equip 700 450

School Operating Expenses- Hire of Venue 2,500 2,500

School Operating Expenses- Membership 40 80

School Operating Expenses- Printing 3,874 6,781

School Operating Expenses- Uniform 1,650 5,269

School Operating Expenses- Sundry 1,093 1,653

Telephone 813 879

Travel, accom & conference 2,114

Waste Disposal 1,676 1,162

Total expenses 84,658 94,432

Net Surplus for the year 65,740 11,368

Doc recd from Dr Anh Nguyen

VINA0001- Financial Statement 2012

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