St John Ambulance SA_Annual Report 2021-2022

Annual Report 2021/22 59

St John Ambulance Australia SA Inc

FINANCIALS CONTINUED

SUMMARY OF FINANCIAL POSITION

STATEMENT OF CASH FLOWS

2021/22 ($'000)

2020/21 ($'000)

2019/20 ($'000)

2018/19 ($'000)

2017/18 ($'000)

2021/22 ($'000)

2020/21 ($'000)

2019/20 ($'000)

2018/19 ($'000)

2017/18 ($'000)

Description

Description

Assets

27,268

27,555

22,846

21,449

21,033

Cash flows from operating activities

289

722

503

(478)

257

Liabilities

4,958

4,949

3,896

2,687

2,666

Cash flows from investing activities

(199)

(271)

(1,372)

20

(181)

Equity

22,310

22,606

18,950

18,762

18,367

Cash flows from financing activities

(314)

(343)

(298)

0

0

Net increase/(decrease) in cash held

(224)

108

(1,167)

(458)

76

Cash at beginning of financial year

5,240

5,132

6,299

6,757

6,681

Cash at end of financial year

5,016

5,240

5,132

6,299

6,757

WHAT WE OWN - ASSETS

WHAT WE OWE - LIABILITIES

improved management of outstanding invoices and inventory levels were consistent this year and last year.

Our assets include:

Our liabilities were $5.0m at 30 June 2022, which is an increase of $9k from the previous year

The Cash Flow Statement provides information on the movement of cash in and out of our organisation during the year. Movements through operating activities, investing activities and financing activities saw our cash holdings decrease from $5.2m to $5m at 30 June 2022.

Prepayments increased $720k due to the timing of 2022 Home Lottery expenses.

• Cash including term deposits • Receivables • Inventory • Long term investments • Property, vehicles, plant and equipment • Intangible and right-of-use assets.

Current liabilities have increased $231k due to the timing of payables and income received in advance.

Available for sale financial assets decreased $588k and is directly related to the current economic environment and its associated fluctuations. As at 30 June 2022, the market value of our investment portfolios, excluding cash and term deposits greater than 90 days, was $8.7m and was $9.3m in the previous year. Of this movement, $622k 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 and right of use assets have increased $102k predominantly due to renovations performed at the Noarlunga site and motor vehicle changeovers. St John SA manages a portfolio consisting of 22 properties, which is consistent with last year. The properties owned are recorded at historical cost less accumulated depreciation and do not reflect their true market value.

* It should be noted from investing activities have been amended to remove movements between term deposits to cash.

Non-current liabilities have decreased $223k due to decreases in both employee provisions and lease liabilities associated with right-of-use assets for land and buildings and motor vehicles.

FINANCIALS OVERVIEW

St John SA has a strong net asset position. The five years of positive operating profit before change in the fair value of available for sale financial assets, since the financial year ended 2018, further strengthen the organisation’s financial position and provides an excellent platform for continued investment in both our core business, and in business initiatives designed to generate material outcomes year on year.

WHAT WE ARE WORTH – NET EQUITY

Together, these assets totalled $27.3m at 30 June 2022 which is a decrease of $287k or 1% from the previous year.

Our net assets at 30 June 2022 were $22.3m, a decrease of $296k from the previous year. This decrease was made up of an operating surplus, for the year, of $325k and a decrease in the fair value of available for sale financial assets reserve associated with our investments of $622k. It should be noted that if the St John SA property portfolio was revalued at fair value (market value), The Board believes that the net assets of St John SA would be higher.

Current assets increased $467k while non-current assets decreased $754k.

Cash and term deposit holdings decreased $224k predominantly due to prepaid lottery expenses.

Tony Mitchell Treasurer

Trade and other receivables decreased $27k due to