Wesley Mission Annual Report 2020 - Flipbook - Page 60
Finances
Financial summary
Statement of profit or loss
for the year ended 30 June 2020
2020
$’000
2019
$’000
Revenue from sale of goods
6,595
7,770
117,529
105,178
97,902
97,345
7,744
7,155
229,770
217,448
4,117
4,007
-
15
15,624
3,869
Revenue from rendering of services
Government grants
Legacies and donations
Revenue from continuing operations
Interest received on investments
Amortisation of yearly lease premium
Other income
Gain on sale of assets
66
1,038
Fair value gain
-
818
Other income
19,807
9,747
Total revenue
249,577
227,195
Employee benefits expense
157,210
145,461
Material and other client services
29,699
27,625
Maintenance and accommodation
12,539
16,454
Depreciation and amortisation expense
16,816
10,645
Travelling expenses
5,132
5,917
Professional fees
6,476
4,717
Communications
1,693
1,741
Cost of goods sold
1,440
1,577
Other expenses
8,247
8,028
696
231
239,948
222,396
Finance costs
Total expenditure
60
Statement of financial position
as at 30 June 2020
Surplus before income tax expense
Income tax expense
9,629
-
4,799
-
Surplus for the year
9,629
4,799
Total comprehensive income for the year
9,629
4,799
Current assets
Cash and cash equivalents
Trade and other receivables
Other financial assets
Inventories
Assets classified as held for sale
Total current assets
2020
$’000
81,842
28,354
14,275
479
12,194
137,144
2019
$’000
85,076
21,780
14,484
498
121,838
In the past year we achieved
Statement of cash flows
2020
$’000
2019
$’000
Cash flows from operating activities
Receipts from customers including government subsidies
Payments to suppliers and employees
254,030
227,132
(227,033)
(216,645)
(704)
-
revenue growth from
increasingly diversified
sources.
Since the base year, total revenue has grown
32% toward our five-year target of 50% growth.
Base year
Non current assets
Property, plant and equipment
Right-of-use assets
Investments
Other assets
Total non current assets
336,436
14,570
165
589
351,760
343,563
165
1,857
345,585
Total assets
488,904
467,423
26,471
6,687
22,930
3,930
Investment in other financial assets
33,468
34,107
Net cash provided by / (used in) investing activities
140,014
140,174
15,567
168
16,689
15,913
940
255,917
13,572
168
14,579
869
230,329
7,421
2,968
2,376
5,162
2,744
2,551
12,765
10,457
Total liabilities
268,682
240,786
Revenue from rendering of services
Net assets
220,222
226,637
Revenue from sale of goods
Equity
Accumulated funds
Reserves
218,220
2,002
226,376
261
Total equity
220,222
226,637
Current liabilities
Trade and other payables
Lease liabilities
Resident licence agreements expected to be paid
within 12 months
Resident licence agreements not expected to be
paid within 12 months
Provisions
Unearned lease premium
Unearned funds
Unearned funds – ILU
Other liabilities
Total current liabilities
Non current liabilities
Lease liabilities
Provisions
Unearned lease premium
Total non current liabilities
Interest paid on leases
Interest received
Net cash provided by operating activities
4,117
4,007
30,410
14,494
$’000
2016
Total revenue
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Investment in / (redemption of) term deposits
(27,491)
(15,714)
4,366
2,706
(270)
-
(3,180)
(3,013)
(26,575)
(16,021)
Year 4
Cash flows from financing activities
Receipts from resident funded licence agreements
$’000
39,782
29,169
(38,239)
(27,911)
(8,344)
(5,442)
(268)
(231)
Net cash provided by / (used in) financing activities
(7,069)
(4,415)
Net (decrease) in cash and cash equivalents
(3,234)
(5,942)
Cash and cash equivalents at the beginning of the financial year
85,076
91,018
Cash and cash equivalents at end of year
81,842
85,076
Repayments for resident funded licence agreements
Repayment of lease liability
Finance costs
$189,145
2020
Total revenue
$249,577
Government grants
Legacies and donations
Investment income
Other income
61
