SJSA Annual Report 2023-24

Annual Report 2023/24

Balance sheet

2023/24 ($’000)

2022/23 ($’000)

2021/22 ($'000)

2020/21 ($'000)

2019/20 ($'000)

Description

Assets

29,249

28,902

27,268

27,555

22,846

Liabilities

5,067

5,398

4,958

4,949

3,896

Equity

24,182

23,504

22,310

22,606

18,950

What we own - assets

Our assets include: • Cash including term deposits • Receivables • Inventory • Long term investments • Property, vehicles, plant and equipment • Intangible and right-of-use assets. Together, these assets totalled $29.2m at 30 June 2024 which is an increase of $347k or 1% from the previous year. Current assets decreased $915k while non-current assets increased $1.3m. Cash and term deposit holdings decreased $1.9m predominantly due to increased lottery prepayments in preparation for the 2024 and 2025 lotteries. Trade and other receivables increased $97k and is consistent with the increase in product sales and event revenue. Prepayments increased $1.03m, principally relating to expenditure associated with the 2024 and 2025 St John Christmas Home Lottery major prizes. Available for sale financial assets increased $689k. This increase is directly related to the favourable market returns over the last year. As at 30 June 2024, thwe market value of our investment portfolios, excluding cash and term deposits less than 90 days, was $10.2m, compared with $9.5m at the end of the previous year. Of this movement, $381k relates to changes in the fair value of the available for sale financial assets with the balance due to dividends and distributions reinvested. Property, Plant and Equipment have increased by $904k, while right of use assets decreased $224k due to delays with expected delivery of new motor vehicle fleet. St John SA manages a portfolio consisting of 24 properties. The properties owned are recorded at historical cost less accumulated depreciation, which does not necessarily reflect their true market value.

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