Annual Report 2017

5 Revenue The Company’s revenue may be analysed as follows for each major product and service category: 2017 2016 $ $ Revenue Member services • Member subscriptions 3,385,984 3,158,447 • Publication income 70,698 67,280 • Eligibility fees 53,398 50,649 • Insurance administration fees 101,673 82,918 • Member services 27,753 16,348 • Continuing education 490,070 364,326 • Conference 680,437 494,337 • Professional resources and services 232,271 298,190 • Copyright royalties 42,064 28,197 • Grants 403,040 478,865 • Resource Guide 6,860 5,537 Investment income • Interest

7.2 Short term deposits Short term deposits with fixed interest rates between 2.48 and 2.51%. They mature in 2018. The carrying amounts, measured at amortised cost, and fair values of these assets are as follows: Notes 2017 2016 $ $ Short term deposits 3,449,040 3,065,004

3,449,040 3,065,004

Short term deposits

8

Trade and other receivables

2017

2016

$

$

Current Trade receivables, gross Provision for impairment

93,898

104,850

-

-

9 Investment property Investment property includes a property in Bank Place, Melbourne, which was previously occupied as our head office, and is now owned to earn rentals and capital appreciation. A market appraisal conducted by Hudson Bond Commercial on 6 February 2018 indicated a possible market reselling price of $1,400,000. All of the Company’s trade and other receivables have been reviewed for indicators of impairment. No trade receivables were found to be impaired and no allowance for credit losses is required. 93,898 104,850 All amounts are short-term. The net carrying value of trade receivables is considered a reasonable approximation of fair value.

107,041 105,452 5,601,289 5,150,546

Other income Net gain on disposal of property, plant and equipment

-

-

Sundry

-

3,750

Rent

81,189 81,189

69,843

73,593 5,682,478 5,224,139

Buildings Building Fit out

Total

6 Income tax expense The components of tax expense comprise:

$

$

$

Balance 1 Jan 2017

316,348

32,319 348,667

2017

2016

Additions Disposals

- -

- -

- -

$

$

Current tax

20,218

39,992

Balance 31 Dec 2017 316,348

32,319 348,667

Depreciation and impairment Balance 1 Jan 2017

Under/(Over) provision in respect of prior years

(14,097)

-

132,471

21,806 154,277

Total Income Tax Expense

6,121

39,992

Disposals

-

-

-

7 Cash and cash equivalents Cash and cash equivalents consist the following: 2017

Depreciation

7,909

1,771

9,680

Balance 31 Dec 2017 140,380

23,577 163,957

Carrying amount 31 December 2017

2016

175,968

8,742 184,710

$

$

Balance 1 Jan 2016

316,348,

32,319 348,667

Cash on hand

500

500

Additions Disposals

- -

- -

- -

Cash at bank

1,739,437 1,046,450

Cash and cash equivalents

1,739,937 1,046,950

Balance 31 Dec 2016 316,348

32,319 348,667

Depreciation and impairment Restated Balance 1 January 2016 (note 26)

7.1 Reconciliation of cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled in the statement of financial position as follows: Notes 2017 2016 $ $

124,562

19,605 144,167

Disposals

-

-

-

Depreciation

7,909

2,201

10,110

Balance 31 December 2016 Carrying amount 31 December 2016

132,471

21,806 154,277

1,739,937 1,046,950

Cash and cash equivalents

183,877

10,513 194,390

23

2017 ANNUAL REPORT Speech Pathology Australia