St John Ambulance SA Inc. Annual Report 2019-2020

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St John Ambulance Australia SA Inc Annual Report 2019/20

FINANCIALS CONTINUED

SUMMARY OF FINANCIAL POSITION

STATEMENT OF CASH FLOWS

2019/20 ($’000)

2018/19 ($’000)

2017/18 ($’000)

2016/17 ($’000)

2015/16 ($’000)

2019/20 ($’000)

2018/19 ($’000)

2017/18 ($’000)

2016/17 ($’000)

2015/16 ($’000)

Description

Description

Assets

23,499

21,449

21,033

20,354

18,180

Cash flows from operating activities

(63)

(478)

257

949

(390)

Liabilities

3,896

2,687

2,666

2,434

1,989

Cash flows from investing activities

1,304

(3,194)

1,878

(3,779)

1,536

Equity

19,603

18,762

18,367

17,920

16,191

Cash flows from financing activities

(298)

0

0

0

0

Net increase/(decrease) in cash held

943

(3,672)

2,135

(2,830)

1,146

Cash at beginning of financial year

934

4,606

2,471

5301

4,155

Cash at end of financial year

1,877

934

4,606

2,471

5,301

WHAT WE OWN - ASSESTS

standard for leases, and in intangible assets from costs incurred on the IT Systems Replacement Project. There was also a net decrease in cash, term deposits and long term investments driven by increased cash outflows from operating activities and a decline in the overall capital value of our Managed Investment Fund. As at 30 June 2020, the market value of our investment portfolios excluding cash and term deposits greater than 90 days was $8,431k, which included a net decrease in the capital valuation of these portfolios from 30 June 2019 of $519k. This capital value portion of the decrease is reported as a decrease in the fair value reserve of St John SA. The total combined return after fees over the prior 12-month period for both the short and long term portfolios was -1.2%. St John SA manages a portfolio consisting of 22 properties, which is consistent with the number from last year. The properties owned by St John SA are currently recorded in the accounts at historical cost less accumulated depreciation and do not reflect their market value.

liabilities comprise 71%.

The Cash Flow Statement provides information on the movement of cash in and out of our organisation during the year. The net cash outflow from operating activities during 2019/20 was $63k and from financing activities associated with lease principal payments was $298k, whilst the net cash inflow from investing activities during the same period was $1,304k, of which $2,110k was reclassified from term deposits to cash and cash equivalents. As at 30 June 2020, our cash balances were $1,877k.

The major components of our assets include:

The increase in liabilities is primarily due to increases in lease liabilities associated with right-of-use assets for land and buildings now being recognised under the new accounting standard for leases, and increases in employee provisions and in trade and other payables over the same time period.

• Property, vehicles, plant and equipment

• Cash assets, including short term investments

• Receivables

WHAT WE ARE WORTH – EQUITY

• Inventory

Equity reflects our net assets. The balance of equity as at 30 June 2020 was $19,603k, an increase of $841k from 2018/19. This increase was due to the operating surplus for the year of $1,360k and a decrease in the fair value reserve associated with our investments of $519k. It should be noted that if the St John SA property portfolio was revalued at fair value (market value), management believes that the net assets of St John SA would be materially higher.

FINANCIALS OVERVIEW

• Long term investments.

• Intangible and Right-Of-Use assets.

St John SA has a strong net asset position and the four years of positive results since 2016/17 further strengthen the organisation’s financial position and provide an excellent platform for the continued investment in both our core business, and in business initiatives designed to generate material growth in net wealth year on year.

Together, these assets account for $23,499k at 30 June 2020. This represents an increase of $2,050k or 10% from last year. Non-current assets comprised 63% of this total. Asset values increased within receivables mainly due to increased debt from event fees. There were also increases in other current assets from the St John SA 2020 Lottery property development and prepaid Lottery expenses, the recognition of right-of-use assets for land, buildings and vehicles under the new accounting

WHAT WE OWE - LIABILITIES

Our liabilities were $3,896k as at 30 June 2020, which is an increase of $1,209k compared to 2018/19. Of this, current

John van Ruth Treasurer