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 37 NEWSBOYS FOUNDATION TRUST FINANCIAL REPORT Newsboys Foundation Trust Statement of Changes in Equity as at 30 June 2016 Retained Investment Total earnings revaluation equity reserve $ $ $ For the year ended 30 June 2015 Opening balance at 1 July 2014 44,186 - 44,186 Total comprehensive income for the year 110,425 - 110,425 Closing balance at 30 June 2015 154,611 - 154,611 For the year ended 30 June 2016 Opening balance at 1 July 2015 154,611 - 154,611 Total comprehensive income for the year 105,334 - 105,334 Revaluation of investments - 5,512 5,512 Closing balance at 30 June 2016 259,945 5,512 265,457 The statement of changes in equity is to be read in conjunction with the notes to the financial statements set out on pages 37 to 38. Newsboys Foundation Trust Statement of Cash Flows For the year ended 30 June 2016 Notes 2016 2015 $ $ Cash flows from operating activities Cash receipts in the course of operations 105,050 107,900 Cash payments to community youth organisations (6,200) - Dividends and distributions received 3,460 - Interest received 1,948 2,525 Net cash from operating activities 3 104,258 110,425 Cash flows from investing activities Payments for investments (109,830) - Net cash used in investing activities (109,830) - Net (decrease)/ increase in cash (5,572) 110,425 Cash at the beginning of the financial year 154,611 44,186 Cash at the end of the financial year 149,039 154,611 The statement of cash flows is to be read in conjunction with the notes to the financial statements set out on pages 37 to 38. Newsboys Foundation Trust Notes to the Financial Statements For the year ended 30 June 2016 1. Significant accounting policies (a) Statement of compliance The Newsboys Foundation Trust (the “Trust”) was established as a Public Fund for charitable purposes to encourage the growth of the resources of the Fund by other donations and benefactions. Any donations to the Fund are tax deductible. In the opinion of the Trustees, the Trust is not a reporting entity. The financial report of the trust has been drawn up as a special purpose financial report for the purpose of fulfilling the terms of the Trust Deed. The financial report has been prepared in accordance with recognition and measurement aspects of all applicable Australian Accounting Standards (AASBs) (including Australian Interpretations) adopted by the Australian Accounting Standards Board (AASB) and the provisions of the Trust Deed constituting the Trust. (b) Basis of preparation As stated above, the Trust has adopted the above-mentioned accounting standards. However, those standards or amendments that were available for early adoption have not been adopted. The quantification of the potential impact of non-adoption of those standards and amendments is not known or reasonably estimated in the current financial year. The Trust has reviewed each of these new standards and interpretations and is satisfied that they have no impact on the reported financial position and performance of the Trust for the year ended 30 June 2016. The financial report is prepared on an accrual basis and is based on historical cost, except for investments in listed securities which have been stated at fair value. The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and the reported amounts of assets and liabilities, income and expenses. In particular, information about impairment of investments is a significant area of judgement as described in note 1(e). There are no significant assumptions or sources of estimates that have a potential to cause a material adjustment to the carrying amounts of assets or liabilities in the next year. The accounting policies set out below have been applied consistently to all periods presented in the financial report. (c) Functional and presentation currency These financial statements are presented in Australian dollars which is the Trust’s functional currency.