Annual report FINAL low res 2016

15

Reconciliation of cash flows from operating activities

18 Leases 18.1 Operating leases as lessee The Company’s future minimum operating lease payments are as follows: Minimum lease payments due Within 1 year 1 to 5 years After 5 years Total $ $ $ $ 31 Dec 2016 157,195 389,475 - 546,670 31 Dec 2015 149,666 546,969 - 696,635 Lease expense during the period amount to $149,966 (2015: $98,017) representing the minimum lease payments. The property lease commitments are non-cancellable operating leases with lease terms of five (5) years. Increases in lease commitments may occur in line with CPI or market rent reviews in accordance with the agreements. 18.2 Operating leases as lessor The Company’s future minimum lease receipts are as follows: Minimum lease payments due Within 1 year 1 to 5 years After 5 years Total

2016 2015 $ $

Cash flows from operating activities Net surplus/(deficit) for the period Non-cash flows in operating surplus/(deficit): • depreciation and amortisation

287,820 (24,422)

57,238 14,174

loss/(profit) on sales of property, plant and equipment

•

139 4,997

other- income tax

39,992 2,931

•

Net changes in working capital: •

change in trade and other receivables change in other assets change in trade and other payables change in other liabilities

(89,664)

(4,211)

(2,396)

7,241

• •

(58) 139,138

(201,948) 404,143

• •

change in provisions

(47,576)

46,559

Net cash from operating activities

43,457 590,551

16 Related party transactions The Company’s related parties include its key management personnel and related entities. Unless otherwise stated, none of the transactions incorporate special terms and conditions and no guarantees were given or received. Outstanding balances are usually settled in cash. 16.1 Directors and key staff remuneration 2016 2015 $ $

$

$

$

$

31 Dec 2016 31 Dec 2015

-

-

-

-

79,746 116,783

- 196,529

Lease income during the period amount to $69,843 (2015: $79,746) representing the lease receipts from the tenant who has defaulted on the lease. A new memorandum of understanding has been prepared with a new tenant effective February 2017, therefore at 31 December 2016 there are no future lease receipts. Commitments The Company has no commitments to note as at 31 December 2016. 19

Directors and key staff remuneration

207,248 202,254

Payment of remuneration of Directors represents the National President honorarium paid to their employer and remuneration of executive staff. Contingent liabilities There are no contingent liabilities that have been incurred by the Company in relation to 2016 or 2015 . 17

26 2016 ANNUAL REPORT Speech Pathology Australia