NEWSBOYS FOUNDATION ANNUAL REPORT 2017 29 NEWSBOYS FOUNDATION FINANCIAL REPORT Newsboys Foundation (A Company Limited by Guarantee) Statement of Comprehensive Income For the year ended 30 June 2017 Notes 2017 2016 $ $ Investment revenue 2 1,172,525 1,158,324 Other revenue 1,333 1,250 Total revenue 1,173,858 1,159,574 Employee expenses (208,613) (191,698) Depreciation expense (1,500) (1,590) Allocations to community youth organisations (800,209) (823,126) Other expenses 3 (110,565) (106,895) Profit for the year 52,971 36,265 Other comprehensive income Items that may be reclassified subsequently to profit or loss: Available-for-sale financial assets - current losses 51,395 (1,346) - reclassification to profit or loss 7 (25,250) - Other comprehensive income for the year 26,145 (1,346) Total comprehensive income for the year 79,116 34,919 The statement of comprehensive income is to be read in conjunction with the notes to the financial statements set out on pages 31 to 34. Newsboys Foundation (A Company Limited By Guarantee) Statement of Financial Position as at 30 June 2017 Notes 2017 2016 $ $ Current assets Cash and cash equivalents 5 2,466,164 2,378,705 Receivables 6 448,499 428,321 Total current assets 2,914,663 2,807,026 Non current assets Financial Assets 7 18,387,832 17,365,731 Plant and equipment 8 768 2,268 Receivables 9 8,890 8,055 Total non current assets 18,397,490 17,376,054 Total assets 21,312,153 20,183,080 Current liabilities Payables 10 10,441 13,376 Employee benefits provision 11 42,637 35,678 Total current liabilities 53,078 49,054 Total liabilities 53,078 49,054 Net assets 21,259,075 20,134,026 Equity Retained earnings 14,179,423 14,100,307 Investment revaluation reserve 7,079,652 6,033,719 Total equity 21,259,075 20,134,026 The statement of financial position is to be read in conjunction with the notes to the financial statements set out on pages 31 to 34.