Sandyport 2015 Q1-Q3 Statements
-
Upload
sandyport-management -
Category
Documents
-
view
214 -
download
2
description
Transcript of Sandyport 2015 Q1-Q3 Statements
FINANCIAL STATEMENTS2015 Q1-Q3 unaudited
Serving our community
www.sandyportmanagement.com
S
ASSETS As atSep 30, 2015
As atSep 30, 2014
Current Assets
Cash and cash equivalents 566,050 813,116
Accounts receivable 296,632 185,621
Prepayments and deposits 85,382 95,623
Total current assets 948,064 1,094,360
Fixed assets, net 77,448 95,453
TOTAL 1,025,512 1,189,813
LIABILITIES AND EQUITY
LIABILITIES
Current Liabilities
Accounts payable and accrued expenses 190,972 194,249
Prepaid maintenance fees and deposits 464,751 317,842
Total current liabilities 655,723 512,091
SHAREHOLDERS’ EQUITY
Share capital 5,000 ordinary shares authorized at $1.00 par value, 409 (2014: 399) shares issued and
outstanding409 399
General reserve fund 557,025 534,125
Maintenance fund (187,645) 143,198
Total shareholders’ equity 369,789 677,722
TOTAL 1,025,512 1,189,813
SANDYPORT HOMEOWNERS ASSOCIATION LIMITED STATEMENT OF FINANCIAL POSITION At September 30, 2015
(Expressed in Bahamian dollars)
Unaudited
REVENUE9 months to
Sep 30, 2015Actual
9 months toSep 30, 2015
Budget
9 months toSep 30, 2014
Actual
Maintenance fees 2,016,097 2,023,338 1,988,950
Water & meters income 384,977 339,949 339,950
Other services 113,797 37,926 132,180
Miscellaneous income 26,192 - 34,730
Total revenue 2,541,063 2,401,213 2,495,810
DIRECT EXPENSES
Security expenses 557,517 520,152 506,230
Improvements 446,730 225,000 331,742
Gardening expenses 322,185 314,126 314,126
Maintenance of common areas 320,118 270,205 270,205
Water & meters 298,956 298,408 259,397
Wastewater management 184,806 226,331 174,990
Painting expenses 154,609 130,344 130,344
Garbage removal 63,000 63,000 52,500
Total direct expenses 2,347,921 2,047,566 2,039,534
Gross Profit 193,142 353,647 456,277
OPERATING EXPENSES
Salaries, benefits & national insurance 169,441 184,857 167,297
Provision for doubtful accounts 105,136 31,373 31,373
Office & computer supplies 28,474 33,395 33,395
Rent & utilities 27,650 27,450 27,450
Professional fees 21,490 30,762 26,280
Telephone & communications 11,772 11,637 11,637
Finance charges 8,378 6,811 6,811
Insurance 7,446 7,885 7,885
Property & other taxes 1,000 750 1,000
Other expenses - 1,778 (50)
Total operating expenses 380,787 336,698 313,078
NET MAINTENANCE FUND (187,645) 16,949 143,198
SANDYPORT HOMEOWNERS ASSOCIATION LIMITED STATEMENT OF MAINTENANCE FUND For the 9 months ended September 30, 2015
(Expressed in Bahamian dollars)
Unaudited
Visit us on the interweb to make
reservations, contact customer
service and more!Serving our community
STAY IN TOUCHPO BOX SP 64016SANDYPORTNASSAU, BAHAMAS
SANDYPORT HOMEOWNERS ASSOCIATION
BAH +1 242 676 8990USA +1 305 831 8921FAX +1 305 705 6599 WWW.SANDYPORTMANAGEMENT.COM