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 4438 NEWSBOYS FOUNDATION ANNUAL REPORT 2016 NEWSBOYS FOUNDATION TRUST FINANCIAL REPORT (d) Financial assets Investments in listed securities held by the Trust are classified as being available-for-sale and are stated at fair value, with any resultant gain or loss being recognised directly in equity (investment revaluation reserve) – unless the reduction in fair value is judged to represent an impairment in which case the reduction is recognised in the statement of comprehensive income. When these investments are derecognised, the cumulative gain or loss previously recognised directly in equity is recognised in profit or loss. The fair value of investments in listed securities classified as available-for-sale is their quoted bid price at the reporting date. Available-for-sale investments are recognised/derecognised by the Trust on the date it purchases / sells the investments. (e) Impairment Available-for-sale financial assets are assessed at each reporting date to determine whether there is any objective evidence that they are impaired. A financial asset is considered to be impaired if the fair value of the asset at period end had declined significantly below the asset’s original cost or if the asset had steadily declined over a prolonged period of time and the fair value at period end is lower than the asset’s original cost. Any impairment losses are recognised in the statement of comprehensive income. Any cumulative loss in respect of available for sale financial assets recognised previously in equity is transferred to the statement of comprehensive income. Any future reversals of impairment losses are recognised directly in equity through the reserve. (f) Receivables Receivables are stated at their amortised cost less impairment losses. (g) Revenue Interest revenue is recognised in the statement of comprehensive income as it accrues. Dividend and distribution revenue is recognised in the statement of comprehensive income on the date the Trust’s right to receive payments is established, which in the case of listed securities is the date the dividend is declared. (h) Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits. (i) Comparative figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year. 2016 2015 $ $ 2. Financial Assets Non-Current Investments Held at Fair Value 115,342 - Investments are held in a diversified portfolio of listed stocks, where fair value is determined with reference to quoted market prices at year end. 3. Reconciliation of cash flows from operating activities There were no reconciling items between operating profit and net cash provided by operating activities. 4. Principal place of business Suite 206 153-161 Park Street South Melbourne, VIC, 3205 Trustee declaration Newsboys foundation trust The trustee declares that the financial statements and notes of the Newsboys Foundation Trust as set out on pages 36 to 38: a) Present fairly the financial position of the Trust as at 30 June 2016 and of its performance, as represented by the statement of comprehensive income and statement of cash flows, for the year ended 30 June 2016; and b) Comply with Australian Accounting Standards to the extent outlined in note 1, and the provisions of the Trust Deed dated 1 August 1977. In the Trustee opinion: a) the financial statements and notes are in accordance with the Trust Deed dated 1 August 1977; and b) there are reasonable grounds to believe that the Trust will be able to pay its debts as and when they become due and payable. Dated at Melbourne this 15th day of September 2016. Signed in accordance with a resolution of the Trustee of Newsboys Foundation Trust: Deryk Stephens Director, Melbourne Newsboys Club Ltd as trustee for Newsboys Foundation Trust