IEPA- EarlyIntervention in MentalIEPA-Early Intervention in Mental Health 96316878 801...

IEPA - Early Intervention in MentalHealth96 316 878 801

Financial StatementsFor the Year Ended 30 June 2019

IEPA - Early Intervention in Mental Health96 316 878 801

ContentsFor the Year Ended 30 June 2019

Financial StatementsCommittee of Management DeclarationCommittee of Management ReportStatementof Surplus or Deficit. and Other Comprehensive IncomeStatementof Financial PositionStatement of Change of EquityStatement of Cash FlowsNotes to the Financial StatementsAudit ReportCompilation Report


Committee of ManagementdeclarationAnnual statements give true andfair view of the financial position of the entity

The Committee of Management have determined that IEPA Early Intervention in Mental Health is not a reporting entity andthat this special purposefinancial report should be prepared in accordance with the accountingpolicies outlined in Note 1 tothe financial statements.The Committee of Managementof the entity declare that:1. the financial statements and notes, as set out on pages 2 to 12 presentfairly the entity's financial position as at 30

June 2019 andits performancefor the year ended on that date in accordance with the accounting policies describedin Note 1 to the financial statements; and

2. in the Committee of Managementopinion there are reasonable groundsto believe that the entity will be able to payits debts as and when they becomedue and payable.

This declaration is made in accordancewith a resolution of the Committee of Management.

Pav(Men.Patrick McGorry

Treasurer:

AVISDeborah Mitchell

Executive Officer :

iDated this © day of December, 2019

The accompanying notes form part of these financial statements.

IEPA- Early Intervention in Mental Health96 316 878 801

Committee of Managementreport30 June 2019

The Committee of Management members submitthe financial report of the Entity for the financial year ended 30 June2019.

1. General information

Committee of Management's

The names of Committee of Management members throughout the year and atthe dateof this report are:Lucia Valmaggia, PresidentEoin Killackey, President ElectPatrick McGorry, TreasurerChi Cheng, Vice President North AmericaPhilippe Conus, Vice President EuropeYoung Chul Chung, Vice President Asia PacificPeter Jones, Past PresidentDeborah Mitchell Executive Officer

Other ordinary MembersKelly AllottPaul FrenchNev JonesAndrea RaballoMichio Suzuki

Principal ActivitiesTheprincipal activity of the entity during the course of the year wasto facilitate and act as an international network forthose involved in the study and treatmentof the early phases of mental health disorders encompassing a trans-diagnostic approach.

2. Operating results and review of operations for the year

Operating result

The Surplus/(Deficit) of the entity for the financial year amounted to a deficit of $205,136 (2018 Surplus: $248, 136).

Subsequent events

No matters or circumstances have arisen since the end of the financial year which significantly affected or maysignificantly affect the operations of the entity, the results of those operations, or the state of affairs of the entity insubsequentfinancial years.

Signed in accordancewith a resolution of the Committee of Management:

FinDitienTreasurer:

Patrick McGorryDated this day of December, 2019



Statement of Surplus or Deficit and Other Comprehensive IncomeFor the Year Ended 30 June 2019

2019 2018Note $ $

Revenue 1,003,649 492,294Employeebenefits (179,977) (153,607)Depreciation expense a -Occupancy expenses é #Conference & Expo expenses (948,804) (1,616)Administration expenses (80,004) (88,935)Surplus/(Deficit) before income tax (205,136) 248,136Income tax (expense)/benefit - -Surplus/(Deficit) from continuing operations (205,136) 248,136Surplus/(Deficit) for the year (205,136) 248,136Other comprehensive income, net of income tax - :Total comprehensive Surplus/(Deficit) for the year (205,136 248,136



Statement of Financial Position30 June 2019

ASSETSCURRENT ASSETSCash and cash equivalentsTrade and other receivablesTOTAL CURRENT ASSETS

NON-CURRENT ASSETSProperty, plant and equipmentTOTAL NON-CURRENT ASSETSTOTAL ASSETSLIABILITIESCURRENTLIABILITIESTrade and other payablesIncome Received in AdvanceEmployee benefitsTOTAL CURRENTLIABILITIESNON-CURRENTLIABILITIESEmployee benefitsTOTAL NON-CURRENTLIABILITIESTOTALLIABILITIESNET ASSETS

EQUITYRetained earningsTOTAL EQUITY


Note2019

582,440

582,440

582,440

(17,926)

(17,926)

(17,926)600,366

600,366600,366

2018

848,485

848,485

848,485

42,983

42,983

42,983805,502

805,502805,502


Statement of Change of Equity30 June 2019

2019RetainedEarnings Total

Note $ $Balance at 1 July 2018 805,502 805,502Surplusor deficit attributable to members (205,136) (205,136)Under/(Over) taxation assessment - -Balance at 30 June 2019 600,366 600,366

2018RetainedEarnings Total

Note $ $Balance at 1 July 2016 557,365 557,365Surplusor deficit attributable to members 248,136 248,136Under/(Over) taxation assessment - -Balanceat 30 June 2018 805,502 805,502



Statement of Cash Flows30 June 2019

2019 2018Note $ $

Cashflows from operating activities

Receipts from conference and sponsorship 994,015 491,579Interest received 9,634 9,315Payments to suppliers and employees (1,248,748) (188,545)Interest paid - -Incometax refunded - -GSTbenefit/(paid) (20,946) (16,259)Net cash provided by/(usedin) operating activities 266,045) 296,090

Cashflows from investing activitiesPaymentsfor property, plant and equipment - esProceedsfrom sale of assets - -Net cash (outflow) inflow from investing activities - -

Cashflowsfrom financing activities

Proceeds from borrowings - -Repayment of borrowings - -Net cash provided byfinancing activities - -

Netincrease/(decrease)in cash held (266,045) 296,090Cashat beginning offinancial year 848,485 552,395Cashat endof financial year 3 582,440 848,485

Reconciliation of Cash flows from Operating Activitiesto operating Profit

Surplus/(Deficit) from ordinary activities after tax (205,136) 248,136Non CashFlowsin Surplus/(Deficit)- Depreciation - -- (Profit)/loss on sale of assets - -- Other non cash items . =Changesin assets andliabilities

(Inc)/Dec in receivables - 8,600(Inc)/Dec in other current assets - -Inc/(Dec) in creditors and accruals (60,909) 39,354Inc/(Dec) in provisions - -Inc/(Dec)in tax effect entries = =

Net cash provided by/(used in) operating activities (266,045) . 296,090



Notes to the Financial StatementsFor the Year Ended 30 June 2019

Thefinancial statements cover the business of IEPA - Early Intervention in Mental Health and have been prepared to meetthe needs of stakeholders.

Comparatives are consistent with prior years, unless otherwise stated.

1 Basis of Preparation

TheEntity is non-reporting since there are unlikely to be any users who would rely on the general purposefinancialstatements.

The special purposefinancial statements have been prepared in accordancewith the significant accounting policiesdescribed below and do not comply with any Australian Accounting Standards unless otherwise stated.

The financial statements have been prepared on an accruals basis and are based onhistorical costs modified, whereapplicable, by the measurementat fair value of selected non-current assets, financial assets and financial liabilities.

Significant accounting policies adopted in the preparation of these financial statements are presented below and areconsistentwith prior reporting periods unless otherwise stated.

2 SummaryofSignificant Accounting Policies

(a) Income Tax

Theentity is exempt from income tax under Division 50 of the Income tax Assessment Act 1997.

(b) Revenue and other income

Revenueis recognised whentheentity is entitled toit.

All revenue is stated net of the amount of goods and services tax (GST).

Dividend revenue

Dividends are recognised whentheentity's right to receive paymentis established.

Other income

Other incomeis recognised on an accruals basis when the Entity is entitledtoit.



2 Summaryof Significant Accounting Policies continued

(c)

(d)

(e)

(f)

GoodsandServices Tax (GST)

Revenue, expenses and assets are recognised net of the amount of goods and services tax (GST), exceptwhere the amountof GSTincurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payable are stated inclusive of GST.

The net amount of GSTrecoverable from, or payable to, the ATO is includedaspart of receivables or payablesin the statementoffinancial position.

Cashflowsin the statementof cash flowsare included on a gross basis and the GST componentof cash flowsarising from investing andfinancing activities which is recoverable from, or payable to, the taxation authority isclassified as operating cashflows.

Property, Plant and Equipment

Eachclass of property, plant and equipmentis carried at cost or fair value less, where applicable, anyaccumulated depreciation and impairmentoflosses.

Depreciation

Property, plant and equipment, excluding freehold land, is depreciated on a straight-line basis over the assetsusefullife to the Entity, commencing whentheassetis ready for use.

Leased assets and leasehold improvements are amortised overthe shorter of either the unexpired period of theleaseortheir estimated usefullife.

Cash and cashequivalents

Cash and cash equivalents comprises cash on hand, demand deposits and short-term investments which arereadily convertible to known amounts of cash and which are subject to aninsignificant risk of changein value.

Bankoverdrafts also form part of cash equivalents for the purpose of the statementof cash flows and arepresented within currentliabilities on the statementoffinancial position.

Employee benefits

Provision is madefor the Entity'sliability for employee benefits arising from services rendered by employeestothe endof the reporting period. Employee benefits that are expected to be wholly settled within one year havebeen measured at the amounts expected to be paid whentheliability is settled.

Employee benefits expected to be settled more than twelve monthsafter the end of the reporting period havebeen measured at the present value of the estimated future cash outflows to be made for those benefits. Indetermining theliability, consideration is given to employee wageincreases and the probability that theemployee maysatisfy vesting requirements. Cashflowsare discounted using marketyields on nationalgovernment bondswith terms to maturity that match the expected timing of cashflows.



2 Summaryof Significant Accounting Policies continued

(f) Employee benefits (continued)

(g)

Changesin the measurementoftheliability are recognised in Profit or loss.

Employeebenefits are presented as currentliabilities in the statementoffinancial positionif the Entity does nothave an unconditionalright to defer settlementoftheliability for at least 12 monthsafter the reporting dateregardlessofthe classification of theliability for measurement purposes under AASB 119.

Termination benefits

Termination benefits are those benefits paid to an employeeas a result of either the entity's decision toterminate an employee's employmentbefore the normalretirement date or an employee's decision to accept anoffer of benefits in exchangeforthe termination of employment.

Termination benefits are recorded as a provision atthe earlier of the following dates:

° Whenthe entity can no longer withdraw the offer of those benefits; and

° Whentheentity recognises costs for a restructuring that is within the scope of AASB 137 Provisions,Contingent Liabilities and Contingent Assets and involves the paymentoftermination benefits.

Provisions

Provisions are recognised whenthe Entity has a legal or constructive obligation, as a result of past events, forwhichit is probable that an outflow of economic benefits will result and that outflow can bereliably measured.



3. Cash and cash equivalents

Cashat bankCash at bank $USDTerm depositsTotal

4 Trade and other receivables

CURRENTOther receivablesPrepayments

Total current trade and other receivables

2019

158,63253,358

370,450582,440

2019

2018

481,1566,511

360,818848,485

2018

Thecarrying valueof trade receivables is considered a reasonable approximationof fair value due to the short-termnature of the balances.

The maximum exposureto credit risk at the reporting date is the fair value of each class of receivablein the financialstatements.

5 Property, plant and equipmentPLANT AND EQUIPMENTComputer equipmentAt costAccumulated depreciationTotal office equipmentOffice FurnitureAt costAccumulated depreciationTotal motor vehiclesTotal property, plant and equipment

23,250(23,250)

1,402(1,402)

23,250(23,250)

10



6 Trade and other payables

CURRENTUnsecuredLiabilitiesOther payablesGSTpayableTotal

2019

24,507(42,433)(17,926)

2018

64,470(21,487)42,983

All amounts are short term andthe carrying values are considered to be a reasonable approximationoffair value.

7 Provisions

CURRENTEmployee benefits - Annual LeaveEmployee benefits - SuperannuationOther provisionsTotal current employee provisions

NON-CURRENTEmployee benefits Long Service LeaveTotal non-current employee provisions

8 Contingencies

In the opinion of the Committee of Management, the Entity did not have anycontingencies at 30 June 2019 (30 June2018:None).

2019

2019

2018

2018

11



9 Entity Details

The registered office of the entity is:

IEPA - Early Intervention in MentalHealth

Arthouse35 Poplar RoadParkville VIC 3052

Australia

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INNAaCIEPA - Early Intervention in Mental Health AEG OUT ANT S96 316 878 801

Independent Audit Report to the membersof IEPA- Early Intervention in MentalHealth30 June 2019

Report on the Financial Report

Wehave audited the accompanyingfinancial report, being a special purposefinancial report, of IEPA - Early Intervention inMental Health , which comprises the balance sheet as at 30 June 2019 and income statement for the year then ended, asummary of significant accounting policies, other explanatory notes and the Committee of Managementdeclaration.Committee of Management s Responsibility for the Financial ReportThe Committee of Managementof the entity are responsible for the preparation and fair presentation of the financial reportand have determined that the accounting policies described in Note 1 to the financial statements, which form part of thefinancial report, are appropriate to meet the requirementsof the entity's constitution and are appropriate to meet the needs ofthe members. The Committee of Managementresponsibility also includes designing, implementing and maintaining internalcontrol relevant to the preparation and fair presentation of the financial report that is free from material misstatement,whetherdueto fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates thatare reasonable in the circumstances.Auditor s Responsibility

Ourresponsibility is to express an opinion on thefinancial report based on our audit. No opinion is expressed as to whetherthe accounting policies used, as described in Note 1, are appropriate to meet the needs of the members. We conducted ouraudit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevantethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whetherthe financial report is free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report.The procedures selected depend onthe auditor's judgement, including the assessmentof the risks of material misstatementof the financial report, whether dueto fraud or error. In making thoserisk assessments,the auditor considersinternal controlrelevant to the entity's preparation and fair presentation of the financial report in order to design audit procedures that areappropriate in the circumstances, but not for the purpose of expressing an opinion on the effectivenessof the entity's internalcontrol. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness ofaccounting estimates made by the Committee of Management, as well as evaluating the overall presentation of the financialreport.The financial report has been prepared for distribution to members for the purpose of fulfilling the Committee ofManagement'sfinancial reporting responsibilities under the entity's constitution. We disclaim any assumption of responsibilityfor anyreliance onthis report or on the financial report to which it relates to any person other than the members,or for anypurpose otherthan that for which it was prepared.Webelieve that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our audit opinion.

Pinnacle CA Pty LtdPO Box 2254,IvanhoeEast, VIC 3079tel. 0417 355 337 email. [email protected]. (03) 8640-0619 CHARTERED ACCOUNTANTS web. www.pinnacleca .com.auABN. 79 125 536 334 director. Kristian J. Convery CA

2

IEPA- Early Intervention in Mental Health AO OU NT AN TS96 316 878 801

Independent Audit Report to the members of IEPA - Early Intervention in MentalHealth30 June 2019

IndependenceIn conducting our audit, we have complied with the independence requirements of the Australian professional ethicalpronouncements.

Auditor s Opinion

In ouropinion, the financial report presentsfairly, in all material respects, the financial position of IEPA - Early Intervention inMental Health as of 30 June 2019 andofits financial performance for the year then ended, in accordance with theaccounting policies described in Note 1 to the financial statements

Pinnacle CA Pty LtdLevel 2 700 High StreetKew East, VIC 3102

Mi Kristian J. Cony;

Director9 December 2019

Liability limited by a scheme approved under Professional Standards Legislation

Pinnacle CA Pty LtdPO Box 2254,IvanhoeEast, VIC 3079tel. 0417 355 337 email. [email protected]. (03) 8640-0619 ckanreneo accounraurs- web. www.pinnacleca .com.auABN.79 125 536 334 director. Kristian J. Convery CA

ibIEPA - Early Intervention in Mental Health \96 316 878 801

PINnaclCompilation Report AN30 June 2019

COMPILATION REPORT TO THE MEMBERSOFIEPA - EARLY INTERVENTION IN MENTAL HEALTH

Wehave compiled the accompanying special purposefinancial statements of IEPA - Early Intervention in Mental Health ,which comprise the statementoffinancial position as at 30 June 2019, and the statementof surplusor deficit and othercomprehensive incomefor the year then ended, a summary ofsignificant accounting policies, other explanatory notes andthe additional information containedin the detailed Profit and loss. The specific purpose for which the special purposefinancial statements have been preparedis set out in Note 2.

The Responsibility of the Committee of Management

The Committee of Managementis solely responsible for the information contained in the special purpose financialstatements and has determined that the basis of accounting used is appropriate to meet their needs andfor the purpose thatthe financial statements were prepared.

Our Responsibility

Onthe basis of the information provided by the Committee of Management we have compiled the accompanying specialpurposefinancial statements in accordance with the basis of accounting and APES 315: Compilation of FinancialInformation.

Ourprocedures use accounting expertise to collect, classify and summarise the financial information, which the Committeeof Managementprovided,in compiling the financial statements. Our procedures donotinclude verification or validationprocedures. No audit or review has been performed and accordingly no assurance is expressed.

The special purposefinancial statements were compiled exclusively for the benefit of the Committee of Management. We donot accept responsibility to any other person for the contents of the special purposefinancial statements.

Pinnacle CA Pty LtdLevel 2 700 High StreetKew East, VIC 3102 Mr Kristian J. Convery GA

Director9 December 2019

Pinnacle CA Pty LtdPO Box 2254,Ivanhoe East, VIC 3079tel. 0417 355 337 email. [email protected]. (03) 8640-0619 CHARTERED ACCOUNTANTS* web. www.pinnacleca .com.auABN. 79 125 536 334 ~ director. Kristian J. Convery CA

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