Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 NEWSBOYS FOUNDATION ANNUAL REPORT 2016 33 NEWSBOYS FOUNDATION FINANCIAL REPORT 2016 2015 $ $ 7. Investments Balance at start of the period 17,554,299 16,690,826 Purchases at cost 489,548 1,206,521 Sales at fair value as at sale date (928,995) (886,558) Revaluations taken to equity reserve 250,879 599,910 Impairment charges taken to statement of comprehensive income - (56,400) Balance at end of the period 17,365,731 17,554,299 Sensitivity analysis – equity price risk All of the Foundation’s equity investments are listed on the Australian Securities Exchange (ASX). For all investments classified as available-for-sale a 10 percent increase in the ASX closing bid price at the reporting date would have increased equity by $1,736,573 (2015: an increase of $1,755,430); an equal change in the opposite direction would have decreased equity by $1,736,573 (2015: a decrease of $1,755,430). 2016 2015 $ $ 8. Plant and equipment Cost Balance at start of the period 18,235 15,042 Acquisitions - 3,193 Balance at end of the period 18,235 18,235 Accumulated depreciation Balance at start of the period (14,378) (13,119) Depreciation charge for the year (1,589) (1,259) Balance at end of the period (15,967) (14,378) Carrying amounts At start of the period 3,857 1,923 At end of the period 2,268 3,857 9. Receivable Non current Security deposit 8,055 8,052 10. Payables Sundry creditors 13,376 21,702 11. Employee benefits Current Provision for annual leave 11,124 11,924 Provision for long service leave 24,554 21,272 Total employee benefits 35,678 33,196 2016 2015 $ $ 12. Reconciliation of cash flows from operating activities Profit for the year 34,919 106,964 Adjustments for: Loss on disposal of investments 1,346 43,429 Impairment of investments - 56,400 Depreciation 1,590 1,259 Operating profit before changes in working capital and provisions 37,855 208,052 Change in assets and liabilities during the financial year: Decrease/ (increase) in receivables 71,668 (79,288) Decrease in Sundry payables (8,326) (4,484) Increase in employee benefits 2,482 10,205 Net cash provided by operating activities 103,679 134,485 13. Defined contribution superannuation fund The Foundation makes contributions to a defined contribution superannuation fund. The amount recognised as expense is $16,357 for 30 June 2016 (2015: $14,159). 14. Related party disclosure Board of Directors The names of each person holding a position on the Board of the Newsboys Foundation during the financial year are: W. Brind Zichy-Woinarski QC Penelope J Campbell Michelle E Collins Keith C Gillett Ann M Robinson Wayne G Bunte (retired 26 November 2015) David C Coombes Deryk A H Stephens John R Warner Other transactions with the Foundation The following Directors of the Board or entities related to that Director have had dealings with the Foundation throughout the year: Mr David C Coombes, a Partner at Gadens Lawyers provided legal services to the Foundation during the years ending 30 June 2016 and 30 June 2015 on a pro-bono basis. No other fees, salaries or other benefits have been paid to Directors during the year.