28 NEWSBOYS FOUNDATION ANNUAL REPORT 2018 Newsboys Foundation (A Company Limited By Guarantee) Statement of Financial Position as at 30 June 2018 2018 2017 $ $ Current assets Cash and cash equivalents 2,620,951 2,466,164 Receivables 530,685 448,499 Total current assets 3,151,636 2,914,663 Non current assets Financial Assets 18,588,692 18,387,832 Plant and equipment 768 768 Receivables 8,890 8,890 Total non current assets 18,598,350 18,397,490 Total assets 21,749,986 21,312,153 Current liabilities Payables 12,207 10,441 Employee benefits provision 48,774 42,637 Total current liabilities 60,981 53,078 Total liabilities 60,981 53,078 Net assets 21,689,005 21,259,075 Equity Retained earnings 13,994,353 14,179,423 Investment revaluation reserve 7,694,652 7,079,652 Total equity 21,689,005 21,259,075 The financial statements with accompanying notes are available to members at their request. NEWSBOYS FOUNDATION FINANCIAL REPORT Newsboys Foundation (A Company Limited by Guarantee) Statement of Comprehensive Income For the year ended 30 June 2018 2018 2017 $ $ Investment revenue 1,259,760 1,172,525 Other revenue - 1,333 Total revenue 1,259,760 1,173,858 Employee expenses (213,249) (208,613) Depreciation expense - (1,500) Allocations to community youth organisations (679,602) (800,209) Other expenses (138,088) (110,565) Impairment of investments (324,000) - Profit for the year (95,179) 52,971 Other comprehensive income Items that may be reclassified subsequently to profit or loss: Available-for-sale financial assets - current profit/(losses) (89,891) 51,395 - reclassification to profit or loss - (25,250) Other comprehensive income/(loss) for the year (89,891) 26,145 Total comprehensive income/(loss) for the year (185,070) 79,116 The financial statements with accompanying notes are available to members at their request.