Strata Community Australia (NSW) - 17392 SCA annual report 2012 · 2017-05-01 · 4 strata...

annual report 201230 June 2012

Strata Community Australia (NSW) Limited 74 001 767 997www.nsw.stratacommunity.org.au

strata community australia (nsw) annual report 2012 3

4 President’s Report

4 Executive Officer’s Report

6 SCA (NSW) Operations

6 Business Partners and Sponsors

6 Events

8 Education

10 Committees

10 Government Relations

10 Media Relations

12 Directors Report

16 Financials

16 Profit and Loss Statement

17 Balance Sheet

18 Statement of Cash Flows

19 Notes to the Financial Report

22 Detailed Profit and Loss Statement

contents annual report contents financial report

Strata Community Australia (NSW) Limited

ABN 74 001 767 997

www.nsw.stratacommunity.org.au

Business Partners

strata community australia (nsw) annual report 2012 54 strata community australia (nsw) annual report 2012

After another very busy year I am extremely pleased that we have achieved what we set out to do, including again posting a surplus.

While 2010/2011 was about improving our financial outlook, 2011/2012 has been about engaging with our key stakeholders as well as getting the new SCA (NSW) brand out.

The first test of the new brand came at the 2011 Annual Convention which was held at Sydney’s Olympic Park. This venue was chosen to enable us to engage with our members who don’t work or live close to the city. We aimed to give those members easier access to the Convention and all it has to offer. The proximity of the venue was popular among the many lot owners who attended.

It was also the first opportunity of engaging with our new Minister for Fair Trading, Anthony Roberts, MP. It was a pleasure to welcome him and he in turn was keen to meet with members. We were delighted that he spent more time than anticipated in walking through the trade exhibit and talking with members.

It seems we must have made a good impression with the Minister as he then chose to launch the first phase of the strata law review in mid-December at the Christmas Party. Indeed the NSW government used this opportunity to launch a new form of engagement and consultation with the strata sector by way of an online forum.

executive officer’s report

This year the Board spent some time reviewing the strategy to date and working on how we might change a few areas as we move towards national licensing and accreditation.

While national licensing has slowed down for now, accreditation is on its way and will become an invaluable tool for the industry.

At the National Convention in Adelaide in May it was my privilege to launch the national accreditation program for Strata Community Australia. There is immense excitement all over the country about what this means to the sector.

Self-regulation is the hallmark of the maturity of any professional industry and at the June lunch in Parliament

president’s report House, I had opportunity on behalf of the membership to call on the Minister for Fair Trading, Anthony Roberts, MP to support us.

During the year I reviewed the state convention model and assessed a revamp was in order. The 2012 convention now takes a different approach being spread out over three days. It will be exciting to see how this works.

A great indicator that we are delivering exactly what members want has been the fantastic turnout to the events and the education opportunities; I want to congratulate all those involved at SCA (NSW) in the organisation and execution of these.

We are beginning to see the changes as we move to becoming a more professional sector. The leadership skills and professional tools that strata managers are acquiring through their membership of SCA (NSW) means they have an advantage over those who have not yet joined. However it is only a matter of time before we represent the entire strata management workforce.

I would like to finish on some comments around the financial position of the organisation. SCA (NSW) made a modest surplus which was less than last year. The shift from a joint national/state conference in 2010 to state conference in 2011 and changing the awards in June 2011 to October 2012, both of which had board oversight and endorsement, were the main factors affecting this but I am confident it will be made back in 2012/13.

There is much to look forward to over the next year especially with the NSW strata law review. With another successful year behind us I am looking forward to seeing the opportunities in the next.

David FergusonSCA (NSW) President

Since then, SCA (NSW) has briefed the Minister on several occasions regarding matters related to the strata industry. In June, the Minister hosted an industry lunch in NSW Parliament House for industry as well as key stakeholders, which was sold-out.

SCA (NSW) has successfully engaged with members this past year. Apart from the Convention we have run three Industry Briefing Sessions with the most recent one, “Workplace Health & Safety” also offered via webinar as well as being sold-out.

It’s really pleasing to have events sell out as it tells us that we are meeting a demand from our members.

This year we increased our engagement with lot owners by firstly offering a free on-line education course for executive committees and then the formation of the Strata Owners Chapter. We welcome strata owners to SCA (NSW) and look forward to growing this Chapter over the coming year. With the strata law review there will be lots to discuss with all member chapters.

We have engaged this year with other associations and this has been very successful. SCA (NSW) has strengthened its ties with the Owners Corporation Network (OCN) with members and office bearers coming along to some of the SCA (NSW) events. We are looking forward to working with OCN on the areas of strata law that need reform. While we may not always see eye-to-eye on everything, we do have a lot of common goals which we can jointly present to the government.

Closer to home our ties with the national SCA body continue to strengthen. We are in the process of handing over Inside Strata to run and have been sharing resources for some time. There has been a great deal of mutual support and encouragement which helps all members both in NSW and across the country.

Our media engagement continued on state issues while the national organisation took this to the next level working across issues that affect the entire sector across Australia. While they worked on issues such as the high cost of residential strata insurance in North Queensland (which has an impact all over the country), in NSW we engaged with media on the strata law review and on the findings of the Governing the Compact City report. This report was launched in May by City Futures which is part of the University of NSW. SCA (NSW) was a sponsor of this research project.

I would like to acknowledge and thank our Business Partners CHU, Macquarie Bank and Bannermans Lawyers as well as our Gold, Silver and Bronze sponsors for their continued involvement and support.

Thank you also to the sponsors of the various events such as the annual Sailing and Golf Days as well as the Industry Briefing Sessions and this year’s Parliamentary lunch.

I’d also like to thank the many volunteers who donate countless hours of their own time to both the secretariat and consequently the industry. Your collective efforts are gratefully received.

Finally, I’d like to thank the SCA (NSW) team - Lucy Byers, Rachel Lynn, Jessica Boyden, Kelly Denmeade and Joanna McAndrew - who work tirelessly to ensure events are delivered, education programs have resources and member inquiries are responded to.

Suresh ManickamExecutive Officer


Business Partners and SponsorsSponsors make an important in-kind and financial contribution to SCA (NSW).

At 30 June 2012, SCA (NSW) had the following sponsors:

Business Partners:• BannermansLawyers• CHUUnderwritingAgenciesPtyLtd• MacquarieBankLimited

Gold Sponsors:• BodyCorporateServices(BCS)• DemlakianStrataandRemedial• Havencab

Silver Sponsors:• Magnatex• XLR8’dSolutions

Lannock Strata Finance ceased its silver sponsorship during the year.

Bronze Sponsors: • CommercialCleaningandCaretaking• ExpressGlass• GraceLawyers• Kelly+Partners• SinkingFundPlans(Aust)PtyLimited• Windowline

Gold Crest Security ceased their sponsorship at the end of 2011/2012.

SCA (NSW) would like to thank all tiers of sponsors for their contributions - professionally, financially and in-kind. Without the continued and valued support of the Business Partners and Sponsors the organisation would not be able to provide members and other stakeholders with the range of services and benefits that is currently provided.

EventsThe Annual Convention – the first held under the new SCA (NSW) brand – was located at Sydney’s Olympic Park in an attempt to encourage people from outside the city area to come along. This strategy was met with mixed results and the 2012 Convention has been moved back to the city and will for the first time also incorporate the strata awards for excellence which had been a stand-alone event.

Members were asked to provide input into the 2011 education program at convention with the Education Committee then assessing suggestions to arrive at a final program. Topics covered at the convention included excellence in customer service, defects and latest court cases. Two panels, one on navigating meetings and a renovation rescue panel, were also enthusiastically run and attended by the delegates.

Once again SCA (NSW) also invited lot owners to the Saturday segment of the conference with over 80 people attending.

The formal dinner on the Friday evening included the presentation of the President’s Award which was jointly given to David Morris and Austin Robinson, and the Max Dunn Award given to George Vumbaca. Life Members inducted where Muriel Barasso and Phil Duggan.

Other events such as the Business Partners Christmas Party at the Kirribilli Club, and the Sailing Day and networking event, this time at Middle Harbour Yacht Club, were again very popular with members.

Winners of this year’s Sailing Day, were the combined crew from Windowline and Commercial Cleaning and Caretaking. The networking event after the regatta also proved to be very popular with members coming in after work for a drink and catch up.

sca (nsw) operations

SCA (NSW) annual convention held at Sydney’s Olympic Park was opened by the new Minister for Fair Trading, Anthony Roberts, MP.

8 strata community australia (nsw) annual report 2012

sca (nsw) operations

The annual Golf Day was held at the beginning of May at the Strathfield Golf Course on one of the warmest May days we’ve experienced.

As for the winners of the Golf Day competition, they were:

• SimonBennett• PeterDaly• CurtisPayne• KonradCooper

Congratulations to all the Sailing Day and Golf Day winners.

The Industry Briefing Sessions have continued to grow in strength with the third session for the year held at the end of March 2012 attracting 130 people – a sell-out crowd. All came to hear about the operation of the latest Workplace Health and Safety legislation introduced at the beginning of 2012.

SCA (NSW) will continue to deliver further sessions in 2012/2013 especially as we move forward with the NSW strata law review.

For the first time SCA (NSW) held a lunch in Parliament House hosted by the Minister for Fair Trading, the Honourable Anthony Roberts, MP. Again this was sold out with 150 people attending the event on 20th June. The Minister delivered a very well-received speech on the past, present and future of strata and indicated that the next phase of the NSW strata law review would be launched soon.

As mentioned above the highly successful strata awards for excellence have been moved to co-incide with the annual convention and so did not fall within this past financial year. We have revamped the awards to include some special new categories and are excited to be able to build on the success of last year.

Education SCA (NSW) again offered the Certificate of Registration course running six programs with 72 students completing it in the past year – that’s an average of 12 students per class. Five classes were held at our training facilities in North Sydney with one held at Tweed Heads.

Continuing Professional Development (CPD) roadshows continued in earnest this year with 226 members attending 10 roadshows held across Sydney, Parramatta, Wollongong, Cronulla, Canberra and Tweed Heads. SCA (NSW) also ran numerous CPD Direct sessions with 316 members participating. In addition, the 2011 Convention offered members a full suite of CPD points.

CPD distance attracted 12 participants with four completing to date.

Consumer Awareness was also offered throughout the year, with 136 attending the various sessions. Topics included asbestos, strata and community living, common property, repairs and maintenance, and roles and responsibilities of a strata manager.

The free training course for executive committee members was also successfully launched and by the end of June, approximately 1,400 lot owners had completed the course.

Member engagementSCA (NSW) recently engaged a Members Services Manager who has been employed to focus on the areas of membership, member services and business development for SCA (NSW): we welcome onboard Joanna McAndrew. In her short time here, Joanna has been assisting with the integration of our new iMIS database system as well as visiting many principals face-to-face.

This has been well received by members and we plan to continue this initiative.

SCA (NSW) held a first ever lunch in Parliament house on 20 June 2012, hosted by the Minister for Fair Trading.


Committees SCA (NSW) has seven committees – Strata Manager Chapter, Strata Services Chapter, Education, Events, Risk and Finance, Ethics and Strata Owners Chapter. Following are some of the major outcomes the committees have achieved this year.

The Strata Manager Chapter Committee continued with its review of the fact sheets and best practice guides to update and rebrand them. It also commenced a review of the Who’s responsible? guide and the Strata Services Agreement.

The Strata Services Chapter also assisted in the fact sheet review and has been reviewing the strata works agreement.

The Education Committee reviewed member submissions and provided guidance on content for the Convention after considering the feedback from the 2010 Convention. The Education Committee also provided guidance on the 2011/2012 CPD topics and had some input into the program for the consumer awareness seminars.

The Events Committee had another successful year with well-attended events including the sailing day, golf day and Annual Convention.

Between 1 July 2011 and 30 June 2012, the Ethics Committee received 56 new complaints, closed 30 complaints and has 19 complaints remaining open. This committee remains at the front line in respect of maintaining and raising the collective bar.

The Strata Owner Chapter is a category of membership for people who own one or more lots in a strata or community title scheme. It can especially be beneficial for those who sit on the executive committee of their scheme.

The Strata Owner Chapter was launched in April 2012 and as at 30 June 2012, had 46 members. We look forward to the growth and involvement of this chapter.

The Principals Retreat was not held during the year with the Strata Manager Chapter deciding to move this event from April 2012 to August 2012 as it was running up against other events.

In November 2011, SCA (NSW) organised and participated in a study tour to Singapore which consisted of a delegation of 14 leaders from the Australian strata industry. The aim of the study tour was to look into Singapore’s termination of strata schemes mechanism and its applicability for Australia.

The delegation heard from the Singapore Building and Construction Authority, the Singapore Land Authority and the Singapore Institute of Surveyors and Valuers, as well as undertaking two site visits to assess the effectiveness of the Singapore experience.

The delegates agreed that the social and economic arrangements as experienced by the Singaporeans posed a compelling argument for Community Renewal in Australia.

A policy position on Community Renewal was subsequently developed and has been widely circulated particularly in NSW where there is a lot of debate occurring about this topic.

Government RelationsSCA (NSW) over the past year has established excellent relations with the new state government. The Minister for Fair Trading, Anthony Robert, has been very encouraging with respect to our policies and has made his Department and Office accessible to the organisation.

Our engagement with the Minister and NSW Fair Trading has strengthened which has enabled SCA (NSW) to play a greater role in the strata sector as thought-leaders.

In his speech to members at Parliament House in June 2012, the Minister said that “Strata Community Australia deserves commendation for the roles it performs in providing information, training and education, not only to a wide range of strata industry professionals, but also to executive committee members and strata owners. It has consistently displayed a genuine commitment to everyone involved in the strata sector.”

The next phase of the strata law review is eagerly anticipated.

Media Relations SCA (NSW) continued to build on the past relationships it has formed with media outlets. Now media from publishers and broadcasters, such as the Australian Financial Review, Sydney Morning Herald, Daily Telegraph and ABC radio, come to us for comment.

Our proactive engagement this year included media releases around the strata law review which attracted a lot of interest and comment. We were also invited to comment on the City Futures report on ABC TV news and in the major newspapers.

financial report 2012


Principal ActivitiesThe principal continuing activities of SCA (NSW) include:-

(a) The promotion of a high standard of expertise and integrity in the management of group title properties and provision of services to group title properties.

(b) The promotion of education, discourse and instruction about any matter relating to the management of group title properties.

(c) The promotion of ethical standards of conduct in dealings by members of SCA (NSW) with their clients or the general public.

(d) The provision of assistance and information about management of group title properties to its members and to members of the general public.

(e) The enhancement of recognition by the public of SCA (NSW) and of its members in their management of and provision of services to group title properties, including representation of the views of SCA (NSW) and its members to government and other bodies.

(f) The performance of any regulatory, educational or supervisory function of SCA (NSW) according to the requirements of government.

(g) The promotion of professional relationships with persons practicing group title management or providing other services to group title properties in other states and territories of Australia and other countries.

(h) The performance of all such other things as are necessary, incidental or conducive to the attainment of these objects.

(i) To represent the interests of and provide education to strata lot owners and their executive committees.

Number of Members

The number of members at 30 June 2012 was 1,248 (2011 – 1,201), in the following categories:

Life 12

Corporate Strata 113

Corporate Supplier 141

Strata Manager Chapter 319

Associate Chapter 255

Strata Services Chapter 253

Associate Member 30

Group Titles Chapter 46

Students 79

Total 1248

Results 2012 2011 $ $

Operating Profit for the Year After Income Tax 32,237 44,278

DividendsSCA (NSW)’s Constitution does not permit the payment of dividends to members.

Review of OperationsA review of operations for the year is set out in the Executive Officer’s Report. On 4 November 2011 the company changed its name to Strata Community Australia (NSW) Limited in accordance with a members’ EGM in May 2011.

Events subsequent to balance dateNo matters or circumstances have arisen since 30 June 2012 which significantly affected or may significantly affect the SCA (NSW)’s operations, the results of those operations or SCA (NSW)’s state of affairs in financial years subsequent to 30 June 2012.

Likely Developments SCA (NSW) expects to maintain the present status and level of operations and hence there are no likely known developments in future financial years.

Directors’ BenefitsDavid Ferguson received a President’s honorarium of $14,000.

David Bannerman, while a director of SCA (NSW), his legal firm, Bannermans Lawyers, entered into a sponsorship contract with SCA (NSW) for the relevant period. The sponsorship fee has been paid to SCA (NSW).

Paul Keating, while a director of SCA (NSW), his employer CHU, entered into a sponsorship contract with SCA (NSW) for the relevant period. The sponsorship fee has been paid to SCA (NSW).

Greg Haywood, while a director of SCA (NSW), his employer Body Corporate Services (BCS), entered into a sponsorship contract with SCA (NSW) for the relevant period. The sponsorship fee has been paid to SCA (NSW).

Bill Coles, while a director of SCA (NSW), his company Commercial Cleaning and Caretaking, entered into a sponsorship contract with SCA (NSW) for events held during the relevant period. The sponsorship fee has been paid to SCA (NSW).

Name Chapter represented Date Appointed Meeting Eligible Meetings

to Attend Attended

D Ferguson (President) Strata Manager (Licensed) 26/10/2006 6 6S Machin (Snr Vice President) Strata Manager (Licensed) 26/10/2007 6 5A Robinson (Vice President) Strata Manager (Licensed) 18/10/2008 6 4O Pisanu Strata Manager (Licensed) 09/10/2009 Retired 1 1D Marchand Strata Manager (Licensed) 22/10/2010 6 6A Foreshew Strata Manager (Licensed) 07/10/2011 5 4G Haywood Strata Manager (Associate) 08/11/2007 6 6C Duggan Strata Manager (Associate) 09/10/2009 6 6P Keating (Vice President) Strata Services 26/10/2006 6 6D Bannerman Strata Services 26/10/2007 6 5B Coles Strata Services 22/10/2010 6 4C Chapman Strata Owners 22/10/2010 6 6

Directors’ ReportThe Director’s present their report together with the annual financial statements of the Strata Community Australia (NSW) Limited (SCA (NSW)) for the year ended 30 June 2012.

DirectorsThe Directors of SCA (NSW) in office during the financial year and until the date of this report are:

financial report 30 june 2012

Committe Members Meetings Meetings Eligible to Attended Attend

Risk & Finance Greg Haywood 5 5 Paul Keating 5 3 Sharyn Machin 5 4 Chris Chapman 5 3

Education Austin Robinson 5 4 David Bannerman 5 3

Ethics Tony Forshew 5 1 David Bannerman 5 5 Chris Chapman 5 4

Events Bill Coles 5 5

SMC Committee Chris Duggan 4 4 Austin Robinson 4 3 Danielle Marchard 4 2

SSC Committee Paul Keating 6 4 David Bannerman 6 4 Bill Coles 6 5

Executive Committee David Ferguson 5 5 Sharyn Machin 5 4 Austin Robinson 5 4 Paul Keating 5 4

Directors’ meetings and executive committee meetingsThe Board of Directors met on five occasions, the attendance at the board meetings was as follows:


In accordance with a resolution of the Board of Directors of the Strata Community Australia (NSW) Limited in the opinion of the Directors the company is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies described in note 1 to the financial statements.

The Directors of the company declare that:-

(a) the financial statements and notes as set out as pages 16 to 22 are in accordance with the Corporations Act, 2001 and

(i) give a true and fair view of the company’s financial position as at 30 June, 2012 and of its performance for the year ended on that date in accordance with the accounting policies described in note 1 to the financial statements, and

(ii) comply with Accounting Standards.

(b) In the Directors opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

Director - D Ferguson Director - G HaywoodNorth Sydney, 26 July 2012

directors’ declaration

Chris Chapman, while a director of SCA (NSW), was retained as a consultant to provide corporate governance, ethics committee and administrative services. His invoices have been paid by SCA (NSW). The Board also resolved that SCA (NSW) reimburse Chris Chapman for out of pocket expenses, up to the value of $6,000 per annum and that this arrangement be revised annually.

Directors’ IndemnitySCA (NSW) has paid premiums totalling $6,610 (2011 $11,034) during the year for Directors and Officers liability insurance. The insurance is in respect of legal liability for damages and legal costs to a maximum of $10 million any one claim and $20 million in the aggregate arising from claims made by reason of any omissions or acts (other than dishonesty) by them, whilst acting in their individual or collective capacity as Directors or Officers of SCA (NSW).

StaffingThe Directors wish to express their thanks to Suresh Manickam (Executive Officer), Lucy Byers (Manager, Marketing and Events), Rachel Lynn (Manager, Finance & Administration), Jessica Boyden (Co-ordinator, Events & Administration), Joanna McAndrew (Member Services Manager) and Kelly Denmeade (Education Administrator) for their valued contributions.

Company SecretarySuresh Manickam acts in the capacity of company secretary.

AuditorsFoster Raffan continue to act as auditors in accordance with the requirements of the Corporations Act, 2001. The Auditor’s Independence Declaration as required by section 307C of the Corporations Act 2001 is available as a separate document online at www.nsw.stratacommunity.org.au.

Signed in accordance with a resolution of the Board of Directors.

Director - D Ferguson Director - G HaywoodNorth Sydney, 26 July 2012

financial report 30 june 2012


The accompanying notes form part of these financial statements

Note 2012 2011

$ $

Current AssetsCash and cash equivalents 3 326,287 279,672Receivables 4 159,249 86,169Other 5 125,900 89,810

Total Current Assets 611,436 455,651

Non-Current AssetsPlant and equipment 6 20,473 16,058Intangible assets 7 11,204 43,100Due from associate 31,742 -

Total Non-Current Assets 63,419 59,158

Total Assets 674,855 514,807

Current Liabilities Trade and other payables 8 77,210 41,182Provision- annual leave 31,837 12,589Income in advance 9 468,260 395,725

Total Current Liabilities 577,307 449,496

Total Liabilities 577,307 449,496

Net Assets $97,548 $ 65,311

Shareholders’ Equity Retained earnings 97,548 65,311

Total Shareholders’ Equity $ 97,548 $ 65,311

statement of financial position30 June 2012

Note 2012 2011 $ $

Revenue Certificates of registration 57,600 79,761Convention 284,246 567,582Publications 334,186 186,027Events and education 131,430 204,319Interest 7,120 10,209Membership and sponsorship 938,275 918,994Professional development 17,189 84,744Other 13,144 39,600

1,783,190 2,091,236

Less Expenses Certificates of registration 27,810 30,375Convention 243,047 464,088Consultancies 2,078 142,467Corporate overheads 955,949 929,198Publications 352,079 188,118Events and education 139,326 204,969Membership and sponsorship 30,664 87,743

1,750,953 2,046,958

Operating profit before income tax (page 12) 32,237 44,278Income tax expense 2 - -

Profit for the year 32,237 44,278Other comprehensive income for the year, net of tax - -

Total comprehensive income for the year 32,237 44,278

Retained Earnings- 1 July 2011 65,311 21,033

Retained Earnings- 30 June 2012 97,548 65,311

statement of comprehensive incomefor the year ended 30 June 2012



1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe financial report has been prepared in accordance with the relevant Accounting Standards and the disclosure requirements of Australian Accounting Standard 1034.

The financial report is prepared in accordance with the historical cost convention. The accounting policies adopted are consistent with those of the previous year.

(a) Membership Income

Membership fees rendered on from members are brought to account on invoice date. The membership year is a calender and not financial year. The membership fees paid in advance set out in note 8 represents the period 1 July to 31 December 2012.

(b) Income Tax

Income tax is payable only on income by the company from non-members after deduction of related expenditure. The income tax payable on any assessable income for the year is calculated at the current rate of tax. Due to the lack of virtual certainty of recoupment no deferred tax asset is established for the tax losses set out in note 2.

(c) Depreciation

Depreciation is calculated on a straight line basis so as to write off the net cost of each item of equipment over its expected useful life. Furniture and fittings are depreciated over 4 years (25%) and office equipment over 5 years (20%).

notes to the financial report30 June 2012

2. INCOME TAXThe aggregate amount of income tax attributable to the financial year differs from the amount prima facie payable on operating profit. The difference is reconciled as follows:

2012 2011

$ $

Operating profit before income tax 32,237 44,278

Income tax at 30% 9,671 13,283Tax effect of permanent differences: Adjustment for mutual income net of expenses (29,495) (23,421)Write down of intangible assets 16,291 12,930

Prima facie income tax expense/(credit) (3,533) 2,792Timing differences during the year: Other items - provisions 7,274 (7,386)Tax losses (utilised)/carried forward (3,741) 4,594

Income tax payable - -

Tax losses carried forward 750,431 754,172


Note 2012 2011 $ $

Cash flows from Operating ActivitiesReceipts from members and sponsors 1,654,445 2,217,061Payments to suppliers and employees (1,576,442) (2,096,951)Interest paid (888) (5,093)Interest received 8,008 10,209

Net cash inflow from Operating Activities 11 85,123 125,226

Cash flows from Investing ActivitiesPurchase of fixed assets 6 (16,096) (13,276)Purchase of SCA branding 7 (22,408) -

Net cash outflow from Investing Activities (38,504) (13,276)

Net increase in cash held 46,619 111,950

Cash- 1 July 2011 279,672 167,722

Cash- 30 June 2012 3 326,287 279,672

statement of cash flowsfor the year ended 30 June 2012


8. CURRENT LIABILITIES - TRADE AND OTHER PAYABLES 2012 2011

$ $Trade payables 60,947 31,884Accrual - PAYG 8,768 9,298- GST 7,495 -

77,210 41,182

9. CURRENT LIABILITIES - INCOME IN ADVANCEIncome in advance Membership 333,802 378,006Events 85,653 -Sponsorship 22,360 17,719Other- publications/education 26,445 -

468,260 395,725

10. LEASE COMMITMENTS - OPERATINGNon-cancellable operating leases (office and photocopier) contracted for but not recognised in the financial statements: Payable- minimum lease payments: Not later than 12 months 114,464 97,127Between 12 months and 5 years 162,945 241,437

277,409 338,564

11. CASH FLOW INFORMATIONReconciliation of cash flow from operations with profit after income tax Profit after income tax 32,237 44,278Non-cash flows in profit: Depreciation (note 6) 11,678 10,165Write-down to recoverable amount (note 7) 54,304 43,100Changes in assets and liabilities: Decrease/(increase) in receivables (73,080) 135,792(Increase)/decrease in other assets (36,090) (52,267)(Increase) in due from associate (31,742) -(Decrease)/increase in payables 108,568 (54,553)(Decrease)/increase in provisions 19,248 (1,289)

Net cash inflow/(outflow) from operating activities 85,123 125,226

12. COMPANY DETAILS The registered office and principal place of business of the company is:Level 8/99 Mount StreetNorth Sydney NSW 2060

CURRENT ASSETS

3. CASH AND CASH EQUIVALENT 2012 2011 $ $

Cash on hand 28 94Macquarie Bank Limited Cash Management Account 210,559 168,543Deposit Account 115,700 110,926Convention Account - 109

326,287 279,672

4. CURRENT ASSETS - RECEIVABLESTrade receivables 106,269 79,370Less: Provision for impairment (10,000) - 96,269 79,370Due from Associate 62,980 -GST Refund - 6,799

159,249 86,169

5. CURRENT ASSETS - OTHERSecurity deposit 50,358 49,994Prepayments: - Convention 32,913 14,646 - Venues 27,879 977 - Other - Rent 14,750 24,193

125,900 89,810

6. NON-CURRENT ASSETS - PLANT AND EQUIPMENTOffice furniture and equipment - at cost 105,209 89,113Less: Accumulated depreciation (84,736) (73,057)

20,473 16,056

7. NON-CURRENT ASSETS - INTANGIBLE ASSETSWebsite and CRM - at cost 157,328 157,328Less: Accumulated impairment (157,238) (114,228)

- 43,100

SCA Branding - at cost 22,408 -Less: Accumulated impairment (11,204) -

11,204 -

11,204 43,100

notes to the financial report30 June 2012


profit and loss statementfor the year ended 30 June 2012 2012 2011 $ $

Income Membership 752,869 768,435Sponsorship 185,406 150,559Events and Education 131,430 204,319Professional development 17,189 84,744Convention 284,246 567,582Publications 334,186 186,027Research and decision support - 39,600Certificates of registration 57,600 79,761Interest 7,120 10,209Industry briefings 13,145 -

Total Income 1,783,190 2,091,236

Expenses Consultancies 2,078 142,467Events and education 139,326 204,969Convention 243,047 464,088Publications 352,079 188,118Certificates of registration 27,810 30,375Training 1,479 35,051Industry briefing sessions 7,625 15,688Travel and accommodation 19,010 8,004Focus group- Governance 2,550 29,000

Total Expenses 795,004 1,117,760

Gross Profit (55% v 47%) 988,186 973,476

Expenditure Accountancy fees 4,953 14,674Administration and bookkeeping - 38,001Advertising and design 11,371 4,500Auditors remuneration 8,000 7,500Bad debts written off - 5,216Bank and merchant charges 8,772 12,254Board and meeting costs 5,412 6,539Computer- IT support 15,963 -Consultancy 20,004 32,256Depreciation and amortisation 65,982 53,265Equipment lease 10,346 9,448General 6,171 5,126Honorarium 17,327 30,545Insurance 7,950 18,972Interest - 5,093Legal- constitution 8,335 -Postage and freight 17,389 22,826Printing and stationary 24,659 25,552Public relations- J. Ross 37,200 -Relocation - 12,265Rent and on-costs 69,472 69,026Salaries and wages 452,039 367,967Staff recruitment 508 1,199Staff training and welfare 7,991 5,914Subscriptions 86,849 115,874Superannuation 37,161 32,353Telephone 18,432 22,023Travel and accommodation 7,442 6,710Website 6,221 4,100

Total 955,949 929,198

Operating profit before income tax 32,237 44,278

Strata Community Australia (NSW) - 17392 SCA annual report 2012 · 2017-05-01 · 4 strata...

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Transcript of Strata Community Australia (NSW) - 17392 SCA annual report 2012 · 2017-05-01 · 4 strata...