Guides Queensland ABN 50 250 642 103

Concise Financial Statements For the Year Ended 31 December 2015

Guides Queensland ABN 50 250 642 103

Statement of Comprehensive Income For the Year Ended 31 December 2015

The accompanying notes form part of these concise financial statements. 2

Relationship of the concise financial report to the full financial report

The concise financial report is an extract from the full financial report for the year ended 31 December 2015. The financial statements, specific disclosures and other information included in the concise financial report have been derived from and consistent with, the corresponding full financial report of Guides Queensland.

The concise financial report cannot be expected to provide as detailed an understanding of the financial performance, financial position and financing and investing activities of Guides Queensland as the full financial report.

A copy of the full financial report and auditor’s report will be sent to any member, free of charge, upon request.

Information on Guides Queensland Concise Financial Report

This discussion and analysis is provided to assist members in understanding the concise financial report. The discussion and analysis is based on Guides Queensland’s financial statements and the information contained in the concise financial report has been derived from the full 2015 financial report of Guides Queensland.

Principal activities

The principal activities of the Association during the financial year was the promotion and administration of Girl Guides throughout the State of Queensland.

Significant changes

No significant change in the nature of these activities occurred during the year.

Operating result

The surplus of the Association for the financial year amounted to $257,417 (2014: $210,695 deficit). Further discussion on the Association’s operations is provided below.

Review of Operations

There was a major review of Kindilan in 2015. A new manager was employed and we commenced on a project of significant refurbishment and repairs. Rebranding was also undertaken and this is due to be finalised in early 2016.

Asbestos audits were completed on all guide huts throughout the State. Property valuations commenced with valuations being completed in the Brisbane metropolitan area.

Garradunga Campsite became operational for Guides and is due to be officially launched to the market place by mid-2016.

The State Office has continued to develop its database and has added property and events modules.

Guide Supplies has been reinvigorated with a new website and online shop which is proving to be very successful.

2015 saw the preparation and staging of the GBG international Jamboree. 1400 participants attended. A huge amount of work went into this event which resulted in a very successful outcome.

Guides Queensland ABN 50 250 642 103

Statement of Comprehensive Income For the Year Ended 31 December 2015

The accompanying notes form part of these concise financial statements. 3

Note

2015

$

2014

$

Sales revenue 2 762,754 720,307

Cost of sales (533,974) (418,714)

Gross profit 228,780 301,593

Other revenue 2 3,761,469 2,442,935

Other income 2 123,652 3,905

Employment expense (1,763,682) (1,724,538)

Operating expense (1,045,040) (635,117)

Depreciation and amortisation expense (191,833) (170,529)

Property and insurance expense (102,277) (145,385)

Marketing expense (99,897) (16,809)

Travel expense (138,169) (67,563)

Activity and program expense (502,390) (181,541)

Vehicle and maintenance expense (10,490) (14,146)

Flood related expense - (3,500)

Finance expense (2,706) -

Surplus/(deficit) for the year 257,417 (210,695)

Other comprehensive income for the year - -

Total comprehensive income for the year 257,417 (210,695)

Guides Queensland ABN 50 250 642 103

Statement of Financial Position As At 31 December 2015

The accompanying notes form part of these concise financial statements. 4

2015

$

2014

$

ASSETS

CURRENT ASSETS

Cash and cash equivalents 773,816 826,548

Trade and other receivables 175,371 19,357

Inventories 140,895 126,300

Other financial assets 2,434,115 2,637,423

Other assets 68,749 51,772

TOTAL CURRENT ASSETS 3,592,946 3,661,400

NON-CURRENT ASSETS

Property, plant and equipment 4,441,670 4,359,557

Intangible assets 83,113 105,246

TOTAL NON-CURRENT ASSETS 4,524,783 4,464,803

TOTAL ASSETS 8,117,729 8,126,203

LIABILITIES

CURRENT LIABILITIES

Trade and other payables 251,375 149,198

Employee benefits 115,353 130,173

Other liabilities 208,942 575,974

TOTAL CURRENT LIABILITIES 575,670 855,345

NON-CURRENT LIABILITIES

Employee benefits 52,512 38,728

TOTAL NON-CURRENT LIABILITIES 52,512 38,728

TOTAL LIABILITIES 628,182 894,073

NET ASSETS 7,489,547 7,232,130

EQUITY

Reserves 571,131 564,174

Retained surpluses 6,918,416 6,667,956

TOTAL EQUITY 7,489,547 7,232,130

Guides Queensland ABN 50 250 642 103

Statement of Changes in Equity For the Year Ended 31 December 2015

The accompanying notes form part of these concise financial statements. 5

2015

Retained Surpluses

$

General Reserves

$

Total

$

Balance at 1 January 2015 6,667,956 564,174 7,232,130

Comprehensive income for the year

Surplus for the year 257,417 - 257,417

Other comprehensive income for the year - - -

Total comprehensive income for the year

257,417 - 257,417

Net transfers from retained surpluses to general reserves (6,957) 6,957 -

Balance at 31 December 2015

6,918,416 571,131 7,489,547

2014

Retained Surpluses

$

General Reserves

$

Total

$

Balance at 1 January 2014 6,871,884 570,941 7,442,825

Comprehensive income for the year

Deficit for the year (210,695) - (210,695)

Other comprehensive income for the year - - -

Total comprehensive income for the year

(210,695) - (210,695)

Net transfers to retained surpluses from general reserves 6,767 (6,767) -

Balance at 31 December 2014

6,667,956 564,174 7,232,130

Guides Queensland ABN 50 250 642 103

Statement of Cash Flows For the Year Ended 31 December 2015

The accompanying notes form part of these concise financial statements. 6

Note

2015

$

2014

$

CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from customers 5,010,976 4,156,107

Payments to suppliers and employees (5,103,346) (3,701,727)

Interest received 90,849 105,087

Interest paid (2,706) -

Net cash inflow (outflow) from operating activities 3 (4,227) 559,467

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property, plant and equipment - 95

Payments for intangible assets (6,562) (36,370)

Payments for property, plant and equipment (245,251) (330,037)

Net proceeds from redemption of financial assets 203,308 246,437

Net cash (outflow) inflow from investing activities (48,505) (119,875)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repayment of borrowings - (54,848)

Net cash (outflow) inflow from financing activities - (54,848)

Net (decrease) increase in cash and cash equivalents (52,732) 384,744

Cash and cash equivalents at the beginning of the financial year 826,548 441,804

Cash and cash equivalents at the end of the financial year 773,816 826,548

Guides Queensland ABN 50 250 642 103

Notes to the Concise Financial Statements For the Year Ended 31 December 2015

7

The concise financial statements cover Guides Queensland as an individual entity. Guides Queensland is a not-for-profit Association incorporated in Queensland under the Guides Queensland Act 1970.

The financial report includes assets, liabilities and results of operations conducted by the state office covering 'Kindilan' at Redland Bay, 'Quetta' at Norman Park, Garradunga and the state office and does not include individual District of Regions.

1 Summary of Significant Accounting Policies

The concise financial report has been prepared in accordance with Accounting Standard AASB 1039: Concise Financial Reports. The accounting policies adopted have been consistently applied to all financial periods presented unless otherwise stated.

2 Revenue and Other Income

2015

$

2014

$

Sales revenue

- Sale of goods - Biscuits 375,543 362,692

- Sale of goods - Guides supplies 387,211 357,615

Total sales revenue 762,754 720,307

Other revenue

- Interest income 86,673 93,750

- Kindilan 1,564,858 1,460,161

- Membership 749,179 725,436

- Events 1,162,864 46,538

- Insurance recovery 4,186 6,308

- Other revenue 193,709 110,742

Total other revenue 3,761,469 2,442,935

Total Revenue 4,524,223 3,163,242

Other Income

- Insurance income 4,561 3,810

- Net gain on disposal of property, plant and equipment 119,091 95

Total other income 123,652 3,905

3 Events Occurring After the Reporting Date

Cash flows from operating activities

Included in the 2014 year's net cash inflow from operating activities of $559,467 was a net cash inflow of $400,675 relating to grants received on behalf of districts and income received in advance for the 2015 Jamboree.

After adjusting for these items, the net cash inflow from operating activities for 2014 was $158,792. The net cash outflow for the 2015 year was $4,227.

4 Events Occurring After the Reporting Date

The financial report was authorised for issue on ……………………………… by the Board of State Council.

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Association, the results of those operations or the state of affairs of the Association in future financial years.

Guides Queensland ABN 50 250 642 103

Statement by the Board of State Council

8

The Board of State Council of the Association Council declares that the concise financial report of Guides Queensland for the financial year ended 31 December 2015, as set out on pages 3 to 7: 1. complies with Accounting Standard AASB 1039: Concise Financial Reports; and 2. is an extract from the full financial report for the year ended 31 December 2015 and has been derived from and is

consistent with the full financial report of Guides Queensland. This statement is made in accordance with a resolution of the Board of State Council and is signed for and on behalf of the Board by:

Board member ..................................................................

Board member ..................................................................

Dated this .............................. day of .............................. 2016

Liability limited by a scheme approved under Professional Standards Legislation. UHY Haines Norton is an association of independent firms in Australia and New Zealand and a member of UHY, an international association of independent accounting and consulting firms.

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INDEPENDENT AUDIT REPORT TO THE MEMBERS OF GUIDES QUEENSLAND

REPORT ON THE FINANCIAL REPORT

We have audited the accompanying concise financial report of Guides Queensland, which comprises the statement of financial position as at 31 December 2015, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the Statement by the Board of State Council.

THE BOARD OF STATE COUNCIL’S RESPONSIBILITY FOR THE FINANCIAL REPORT

The Board of State Council of the Association are responsible for the preparation of the concise financial report in accordance with Australian Accounting Standard AASB 1039: Concise Financial Reports and for such internal control as the Board of State Council determines is necessary to enable the preparation of the concise financial report.

AUDITOR’S RESPONSIBILITY

Our responsibility is to express an opinion on the concise financial report based on our procedures which were conducted in accordance with Auditing Standard ASA 810: Engagements to Report on Summary Financial Statements. We have conducted an independent audit, in accordance with Australian Auditing Standards, of the financial report of Guides Queensland for the year ended 31 December 2015. We expressed an unmodified audit opinion on that financial report in our report dated __ March 2016. The Australian Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report for the year is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the concise financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the concise financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Association’s preparation and fair presentation of the concise financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Association’s internal control. Our procedures included testing that the information in the concise financial report is derived from, and is consistent with, the financial report for the year, and examination on a test basis, of audit evidence supporting the amounts, discussion and analysis, and other disclosures which were not directly derived from the financial report for the year. These procedures have been undertaken to form an opinion on whether, in all material respects, the concise financial report complies with AASB 1039: Concise Financial Reports and whether the discussions and analysis complies with the requirements laid down in AASB 1039: Concise Financial Reports.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

AUDITOR’S OPINION

In our opinion, the concise financial report including the discussion and analysis of Guides Queensland for the year ended 31 December 2015 complies with Accounting Standard AASB 1039: Concise Financial Reports.

UHY HAINES NORTON CHARTERED ACCOUNTANTS

DARREN LAARHOVEN

Partner Brisbane, __ March 2016