St John Ambulance SA Inc. Annual Report 2020-21

55

St John Ambulance Australia SA Inc Annual Report 2020/21

FINANCIALS - TREASURER’S REPORT

SUMMARY OF COMPREHENSIVE INCOME

We are a social enterprise, meaning a not-for-profit that applies commercial strategies to generate funding for health and wellbeing programs, rather than for maximising profits for shareholders. This is achieved primarily through the delivery of training as a Registered Training Organisation (RTO) and the sale of first aid products. Every dollar spent with St John SA enables us to provide community services like first aid care for the public, education initiatives, support for the underprivileged, social inclusion and youth development programs.

2020/21 ($’000)

2019/20 ($’000) Restated*

2018/19 ($’000)

2017/18 ($’000)

2016/17 ($’000)

Description

Revenue

24,447

20,640

12,255

10,953

11,975

Expenses

20,980

19,124

11,448

10,333

10,516

Net operating surplus/(deficit) before depreciation & disposals

3,466

1,516

808

620

1,459

Depreciation

687

619

475

413

590

Net gain/(loss) on disposal of property, plant and equipment

46

40

13

(21)

354

Net surplus/(deficit) for the year

2,825

937

346

186

1,223

Other comprehensive income

831

(519)

49

261

506

Total comprehensive income/(loss) for the year

3,656

418

395

447

1,729

The net operating surplus before depreciation and disposals was $3.5m which was $2.0m better than last year’s surplus of $1.5m. This increase primarily was driven by the success of the 2020 Home & Lifestyle Lottery plus higher expenses (refer following page).

Total comprehensive income for 2020/21 was $3.7m compared to $418k in 2019/20.

Our strategic plan, Strategy 2025, was launched in late 2020 and provides a broad framework to ensure growth for St John SA over the coming few years. The 2021/22 Business Plan provides a number of business initiatives that underpin Strategy 2025 and provide guidance and focus for management and the new year activities.

Restated* St John previously capitalised costs incurred in configuring or customising software. St John has reconsidered this decision following an IFRS interpretation committee decision in March 2021 and this has been applied retrospectively.