St John Ambulance SA Inc. Annual Report 2020-21

FINANCIALS CONTINUED

SUMMARY OF FINANCIAL POSITION

2020/21 ($’000)

2019/20 ($’000) Restated*

2018/19 ($’000)

2017/18 ($’000)

2016/17 ($’000)

Description

Assets

27,555

22,846

21,449

21,033

20,354

Liabilities

4,949

3,896

2,687

2,666

2,434

Equity

22,606

18,950

18,762

18,367

17,920

WHAT WE OWN - ASSETS

shipments and increased holdings of masks and hand gel.

The increase in liabilities is due to the timing of payables, increases in employee provisions and lease liabilities associated with right-of-use assets for land and buildings and motor vehicles.

Our assets include:

Other current assets increased $3.6m due to both 2021 and 2022 prepaid lottery expenses.

• Cash including term deposits • Receivables • Inventory • Long term investments • Property, vehicles, plant and equipment • Intangible and Right-Of-Use assets.

WHAT WE ARE WORTH – EQUITY

As at 30 June 2021, the market value of our investment portfolios, excluding cash and term deposits greater than 90 days, was $9.3m, increased $831k from 30 June 2020. This market movement is shown as other comprehensive income in the income statement. The combined gross return (distributions, interest and capital growth), for the investment portfolios, was 10.95% for the 12 months ended 30 June 2021. Property Plant and Equipment and right of use assets have increased $671k due to the purchase of new vehicles and renovations performed at the Noarlunga site. 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.

Our net assets at 30 June 2021 were $22.6m, an increase of $3.7m from 2019/20. This increase was due to the operating surplus for the year of $2.8m and an increase in the fair value reserve associated with our investments of $831k. It should be noted that if the St John SA property portfolio was revalued at fair value (market value), there are reasonable grounds to believe the net assets of St John SA would be higher.

Together, these assets totalled $27.6m at 30 June 2021 which is an increase of $4.7m or 21% from 2019/202. Non- current assets comprised 57% of this total.

Cash and term deposit holdings remain similar to last year.

Trade and other receivables decreased $670k due to a change in system and processing where invoices are now not generated until after the course has been run.

WHAT WE OWE - LIABILITIES

Our liabilities were $4.2m at 30 June 2021, which is an increase of $1.1m

Inventories have increased $90k due to the timing of stock