30 NEWSBOYS FOUNDATION ANNUAL REPORT 2017 NEWSBOYS FOUNDATION FINANCIAL REPORT Newsboys Foundation (A Company Limited by Guarantee) Statement of Changes in Equity Investment Retained Revaluation Total Earnings Reserve Equity $ $ $ For the year ended 30 June 2016 Opening balance at 1 July 2015 14,065,388 5,989,218 20,054,606 Total comprehensive income for the period 34,919 - 34,919 Revaluation of investments Sold during the year - (207,724) (207,724) On hand at 30 June 2016 - 250,879 250,879 Transferred to statement of comprehensive income due to impairment - - - Amounts reclassified to profit upon sale of investments - 1,346 1,346 Closing balance at 30 June 2016 14,100,307 6,033,719 20,134,026 For the year ended 30 June 2017 Opening balance at 1 July 2016 14,100,307 6,033,719 20,134,026 Total comprehensive income for the period 79,116 - 79,116 Revaluation of investments Sold during the year - 42,469 42,469 On hand at 30 June 2017 - 1,054,859 1,054,859 Transferred to statement of comprehensive income due to impairment - (25,250) (25,250) Amounts reclassified to profit upon sale of investments - (26,145) (26,145) Closing balance at 30 June 2017 14,179,423 7,079,652 21,259,075 The statement of changes in equity 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 Cash Flows For the year ended 30 June 2017 Notes 2017 2016 $ $ Cash flows from operating activities Cash receipts in the course of operations 260,501 293,399 Cash payments in the course of operations (316,765) (296,562) Cash payments to community youth organisations (800,209) (831,004) Dividends and distributions received 842,638 883,177 Interest received 51,319 54,669 Net cash from operating activities 12 37,484 103,679 Cash flows from investing activities Proceeds from sale of investments 702,700 742,006 Payments for investments (652,725) (489,548) Payments for plant and equipment - - Net cash provided by / (used in) investing activities 49,975 252,458 Net increase/ (decrease) in cash 87,459 356,137 Cash at the beginning of the year 5 2,378,705 2,022,568 Cash at the end of the year 5 2,466,164 2,378,705 The statement of cash flows is to be read in conjunction with the notes to the financial statements set out on pages 31 to 34.