Youth Off The Streets 2013 Financial report

Financial Report 2013YOUTH OFF THE STREETS LIMITED

ABN 29 100 388 412

Financial Report Financial Report 2013YOUTH OFF THE STREETS LIMITEDYOUTH OFF THE STREETS LIMITED

ABN 29 100 388 412

Financial Report

3youth off the streets 2013 3youth off the streets 2013

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aUdItoR’S iNdEpeNdEncE dEcLarAtIon 9

sTaTemEnT oF cOmPreHeNsiVE iNcOme 10

sTaTemEnT oF fInAncIaL pOsItiON 10

sTaTemEnT oF cHaNgeS iN fUndS 10

sTaTemEnT oF cAsH fLowS 11

nOtEs To thE fInAncIaL sTaTemEntS 11

dIrEctORs’ dEcLarAtIon 19

iNdEpeNdEnt aUdItoR’S rEpOrt 20

cOnTenTS dIrEctOrSThe names and details of the Company’s directors in offi ce during the fi nancial year and unti l the date of this report are as follows. Directors were in offi ce for this enti re period, unless otherwise stated.

• Christopher Keith Riley, AM

• Craig Stuart Davis

• Anna Maree Ainsworth

• Rebecca Monica Grace Lynch

• Richard John Gibbs (Chairman)

• Bernard Charles Moore (Resigned: 18 July 2012)

• Richard John (Rick) Millen

• Robyn Gail Ridgeway (Resigned: 17 October 2012)

• Deborah Thomas (Appointed: 22 August 2013)

nAmEs, QuaLiFicAtIonS, ExpErIenCe anD sPecIaL rEsPonSiBilItIesfAtHer cHrIs rIlEy, amFounder and CEOFather Chris Riley AM, Founder and CEO of Youth Off The Streets, has worked with disadvantaged youth for more than 35 years in a variety of roles including teacher, youth worker, probati on offi cer, residenti al carer and principal. Father Riley offi cially founded Youth Off The Streets in 1991.

As CEO of Youth Off The Streets, Father Riley oversees the operati on of over 25 programs that employ over 200 staff and involve more than 478 volunteers. He has implemented innovati ve behaviour modifi cati on strategies to help young people deal with a history of trauma, abuse and neglect.

Many of these strategies have been adopted by schools across Australia and by Government agencies. Father Chris Riley believes there is no such thing as a “child born bad”, but acknowledges that there are bad environments, circumstances and families that impact negati vely on our young people.

“We must have the courage to demand greatness from our youth.”

Qualifi cati ons:• Diploma of Teaching (3 years trained) Australian Catholic

University, Chadstone, Victoria, 1975

• Secondary Teachers Certi fi cate of Registrati on No. 37378, 1975

• Primary Teachers Registrati on Board, 1976

• Bachelor of Theology, Melbourne College of Divinity, Clayton, Victoria, 1982

• Bachelor of Arts (major Sociology and English) Monash University, Clayton, Victoria, 1984

• Diploma of Abuse Counselling, Australian Insti tute of Professional Counsellors, Queensland, 1996

• Diploma of Psychology, Applied School of Psychology, Sydney, 1997

• Diploma of Aboriginal Studies, TAFE NSW OTEN, 2010

• Certi fi cate IV in Alcohol and Other Drugs, TAFE NSW OTEN, 2010

• Honorary Doctorate of Lett ers, University of Western Sydney. “This award is in recogniti on of your outstanding humanitarian service to the community, especially youth,” 2010

• Masters of Special Educati on, University of Southern Queensland, 2010.

Father Riley is a member of the Children’s Court Advisory Committ ee; Headspace Macarthur, Campbelltown, Southern Highlands; Regional Development Committ ee Sydney; and is Patron of the Care Van Foundati on in the Albury region.

Committ ee Membership:

• Services Committ ee

• Nominati ons Committ ee

• Audit, Finance and Risk Committ ee

cRaiG dAviSDirectorCraig Davis has been a Director since 1998. He was elected Deputy Chairman in 2000 and served as Chair of the Board from 2002 to September 2008. He was also elected a Youth Off The Streets Ambassador in August 2009.

Aft er a successful career playing Australian Football League (AFL) for Carlton, Collingwood and Sydney, Craig is now the Sport Development Manager for the University of New South Wales Sport and Recreati on. Craig was honoured with the Australian Sports Medal and Life Membership for AFL New South Wales (NSW)/Australian Capital Territory (ACT) in 2000 and brings with him vast experience in Board membership. This year, Craig was honoured with the naming of the Craig Davis College at the Cordeaux Heights Centre for Youth.

Craig was the CEO of the NSW Australian Football League (1990 - 1998), the Chairman of Selectors Sydney Swans (1986 - 1987) and Deputy Chairman of the NSW Sports Federati on (1996 - 2003) as well as Chairman of the Non-Olympic Sports Task Force (1996 - 2000).

Craig holds a Surveying Certi fi cate from the Royal Melbourne Insti tute of Technology.

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$2.5m*

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aUdItoR’S iNdEpeNdEncE dEcLarAtIon 9aUdItoR’S iNdEpeNdEncE dEcLarAtIon 9

sTaTemEnT oF cOmPreHeNsiVE iNcOme 10

sTaTemEnT oF fInAncIaL pOsItiON 10

sTaTemEnT oF cHaNgeS iN fUndS 10

sTaTemEnT oF cAsH fLowS 11

nOtEs To thE fInAncIaL sTaTemEntS 11

dIrEctORs’ dEcLarAtIon 19

iNdEpeNdEnt aUdItoR’S rEpOrt 20

cOnTenTS

$2.5m*$2.5m*333youth off the streets 2013youth off the streets 2013youth off the streets 2013

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dIrEctOrSThe names and details of the Company’s directors in offi ce during the fi nancial year and unti l the date of this report are as follows. Directors were in offi ce for this enti re period, unless otherwise stated.

• Christopher Keith Riley, AM

• Craig Stuart Davis

• Anna Maree Ainsworth

• Rebecca Monica Grace Lynch

• Richard John Gibbs (Chairman)

• Bernard Charles Moore (Resigned: 18 July 2012)

• Richard John (Rick) Millen

• Robyn Gail Ridgeway (Resigned: 17 October 2012)

• Deborah Thomas (Appointed: 22 August 2013)

nAmEs, QuaLiFicAtIonS, ExpErIenCe anD sPecIaL rEsPonSiBilItIesfAtHer cHrIs rIlEy, amFounder and CEOFather Chris Riley AM, Founder and CEO of Youth Off The Streets, has worked with disadvantaged youth for more than 35 years in a variety of roles including teacher, youth worker, probati on offi cer, residenti al carer and principal. Father Riley offi cially founded Youth Off The Streets in 1991.

As CEO of Youth Off The Streets, Father Riley oversees the operati on of over 25 programs that employ over 200 staff and involve more than 478 volunteers. He has implemented innovati ve behaviour modifi cati on strategies to help young people deal with a history of trauma, abuse and neglect.

Many of these strategies have been adopted by schools across Australia and by Government agencies. Father Chris Riley believes there is no such thing as a “child born bad”, but acknowledges that there are bad environments, circumstances and families that impact negati vely on our young people.

“We must have the courage to demand greatness from our youth.”

Qualifi cati ons:• Diploma of Teaching (3 years trained) Australian Catholic

University, Chadstone, Victoria, 1975

• Secondary Teachers Certi fi cate of Registrati on No. 37378, 1975

• Primary Teachers Registrati on Board, 1976

• Bachelor of Theology, Melbourne College of Divinity, Clayton, Victoria, 1982

• Bachelor of Arts (major Sociology and English) Monash Bachelor of Arts (major Sociology and English) Monash Bachelor of Arts (major Sociology and English) Monash Bachelor of Arts (major Sociology and English) Monash Bachelor of Arts (major Sociology and English) Monash Bachelor of Arts (major Sociology and English) Monash University, Clayton, Victoria, 1984

• Diploma of Abuse Counselling, Australian Insti tute of Professional Counsellors, Queensland, 1996

• Diploma of Psychology, Applied School of Psychology, Sydney, 1997

• Diploma of Aboriginal Studies, TAFE NSW OTEN, 2010

• Certi fi cate IV in Alcohol and Other Drugs, TAFE NSW OTEN, 2010

• Honorary Doctorate of Lett ers, University of Western Sydney. “This award is in recogniti on of your outstanding humanitarian service to the community, especially youth,” 2010

• Masters of Special Educati on, University of Southern Queensland, 2010.

Father Riley is a member of the Children’s Court Advisory Committ ee; Headspace Macarthur, Campbelltown, Southern Highlands; Regional Development Committ ee Sydney; and is Patron of the Care Van Foundati on in the Albury region.



• Nominati ons Committ ee


cRaiG dAviSDirectorCraig Davis has been a Director since 1998. He was elected Deputy Chairman in 2000 and served as Chair of the Board from 2002 to September 2008. He was also elected a Youth Off The Streets Ambassador in August 2009.

Aft er a successful career playing Australian Football League (AFL) for Carlton, Collingwood and Sydney, Craig is now the Sport Development Manager for the University of New South Wales Sport and Recreati on. Craig was honoured with the Australian Sports Medal and Life Membership for AFL New South Wales (NSW)/Australian Capital Territory (ACT) in 2000 and brings with him vast experience in Board membership. This year, Craig was honoured with the naming of the Craig Davis College at the Cordeaux Heights Centre for Youth.

Craig was the CEO of the NSW Australian Football League (1990 - 1998), the Chairman of Selectors Sydney Swans (1986 - 1987) and Deputy Chairman of the NSW Sports Federati on (1996 - 2003) as well as Chairman of the Non-Olympic Sports Task Force (1996 - 2000).

Craig holds a Surveying Certi fi cate from the Royal Melbourne Insti tute of Technology.

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dIrEctORs’ rEpOrt


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aNnA aInSwoRTh, GaicdDirectorAnna has been a Director since 2002. She served as Chairperson of the Board from 2008 to February 2011. Anna is the Community Development Manager of Eden Gardens and Garden Centre, North Ryde and a Director of the Eden Foundati on.

Her earlier career was in Public Health Practi ce where she worked as a Paediatric physiotherapist.

Anna is a member of the Development Advisory Committ ee of the Botanic Gardens and Domain Trust and a member of Philanthropy Australia through the Eden Foundati on.

Anna holds a post graduate Diploma in Physiotherapy from Cumberland College of Health Services and a Bachelor of Science from the University of New South Wales. She is a graduate Member of the Australian Insti tute of Company Directors and a graduate of the Benevolent Society Sydney Leadership Program.


• Services Committ ee – Chair

rEbEccA lYncHDirectorRebecca has been a Director since 2005.

Rebecca is a special counsel at Herbert Geer Lawyers. She holds a LLB (Bachelor of Laws) from the University of Sydney and brings with her a great deal of experience in the legal profession. Rebecca has practi sed in the area of commercial liti gati on for over 30 years. She was a partner at DLA Phillips Fox unti l she reti red from the partnership in May 2007.

Rebecca is admitt ed as a Solicitor of the Supreme Court of New South Wales (1979), Northern Territory (1992) and South Australia (1994). Rebecca also received offi cial accreditati on as a mediator by LEADR (1994). Rebecca is a member of the Law Society of NSW.



• Nominati on Committ ee – Chair

rIcHarD jOhN gIbbSGaicd Chairman Richard has been a Director since 2006. He was appointed Chairperson in February 2011. Richard is the Global Head of Economics and Chief Economist at Macquarie Group, where he is responsible for providing analysis and strategic advice on developments in domesti c and internati onal economies, and investment markets. He plays a key strategic advisory role in support of Macquarie Group’s securiti es trading, banking services, corporate fi nance, infrastructure and funds management businesses. He also acts as a specialist adviser to the Boards of several of the Group’s major insti tuti onal clients and provides strategic advice to the Board of Macquarie Group.

Richard holds a Bachelor of Economics (Hons) and a Master of Internati onal Economics and Finance specialising in macroeconomic policy, fi nance and public policy administrati on. He also holds a Graduate Diploma in Applied Finance and Investment from the Securiti es Insti tute of Australia, a Master of Business Administrati on and a Graduate Diploma in Executi ve Performance Management.

Richard is a member of the Australian Business Economists and the Nati onal Associati on of Business Economics (NABE) in the United States. He is a member of the Advisory Board for the Australian Nati onal University, School of Arab and Islamic Studies, a Trustee for the Committ ee for the Economic Development of Australia (CEDA), a Member of the Australia-Oman Business Council, a Fellow of the Financial Services Insti tute of Australasia (FINSIA) and Graduate Member of the Australian Insti tute of Company Directors.


• Development Committ ee – Chair


bErNie mOorE(resigned eff ecti ve 18 July 2012)DirectorBernie Moore has been a Director since 2008 and was appointed Company Secretary in 2005. Bernie was the Company Secretary of Espreon Limited, requiring extensive experience in managing the fi nancial and administrati on divisions of the business. He is an Associate of the Insti tute of Chartered Secretaries and Administrators and a Fellow of the Insti tute of Public Accountants.

In earlier years Bernie served as a soldier in the Australian Army, including 5 years as a member of the Special Air Service Regiment, of which he sti ll has an affi liati on serving as Treasurer of the Australian SAS Regiment Associati on (NSW Branch).


• Audit, Finance and Risk Committ ee – Company Secretary.

rIcHarD JohN (riCk) mIlLenDirectorRick has been a Director since 2007. Rick was a partner of Pricewaterhouse Coopers (PwC) (reti red June 2011). During his ti me, Rick led the Advisory Practi ce and sat on PwC’s leadership team. For fi ve years from 2006 to 2011 Rick led PwC’s corporate responsibility agenda in Australia including running the PwC Foundati on. From 2008 to 2010 Rick also coordinated PwC’s corporate responsibility agenda globally in some 140 territories.

Rick is a director of Australia for UNHCR.

Rick holds a BA in Law from Oxford University and is a member of the Insti tute of Chartered Accountants in Australia.


• Development Committ ee

• The Audit, Finance and Risk Committ ee – Chair

rObyN rIdGewAy (resigned eff ecti ve 17 October 2012)DirectorRobyn has been a Director since 2009. She is a proud Aboriginal Women and has worked in the area of Aboriginal educati on since 1996. Her current positi on is the Course Manager and Teacher of Aboriginal Courses at the Open Training and Educati on Network (OTEN) which is the distance educati on arm of Western Sydney Insti tute (WSI) TAFE.

Robyn is a member of the Western Sydney Insti tute TAFE Advisory Council, the Aboriginal Studies Discipline Expert for the Insti tute and is also involved in several committ ees as part of her positi on at OTEN. She is acti vely involved in the writi ng, editi ng and reviewing of relevant student resources for the courses she manages.

She is a member of the NSW Writers Centre, Friends of Tranby Aboriginal College and was involved in the producti on of a short fi lm ti tled ‘A Walk Through Country’ produced specifi cally for the Diploma of Aboriginal Studies. This short fi lm was a fi nalist in the 2006 New York Film Festi val.



• Aboriginal Services Committ ee

dEbOraH tHomAs, Maicd (joined 22 August 2013)DirectorDeborah joined the board of Youth Off The Streets in August, 2013. One of the country’s most successful and experienced magazine editors, Deborah was at the helm of Australia’s biggest selling magazine, The Australian Women’s Weekly, for a decade and has been editi ng some of our most popular women’s magazines for over 20 years, before moving to a corporate role within ACP Magazines, now Bauer Media.

In her current role as Director of Media, Public Aff airs and Brand Development across Bauer Media’s portf olio of 70-plus magazines, websites and social media, Deborah is responsible for all media, events and PR, corporate aff airs, communicati ons, brand licensing and sponsorships, as well as key adverti sing relati onships and company initi ati ves.

In 2012 Deborah was elected to local government as a Councillor for Woollahra Municipal Council. She is also Deputy Chair of the Nati onal Library of Australia, a member of the ANZAC Centenary Advisory Board and a founding patron of the Taronga Conservati on Foundati on.

DividEnds The Company is a non-profi t organisati on and the Consti tuti on of the Company prohibits the payment of a dividend.

pRiNciPaL aCtIviTieSYouth Off The Streets Limited was incorporated in New South Wales on 30 April 2002. The principal acti vity of the Company is the provision of rehabilitati on services to youth aff ected by drugs, alcohol and homelessness. Youth Off The Streets Limited commenced operati ng as a company, limited by guarantee, on 1 April 2003. There have been no signifi cant changes in the nature of these acti viti es during the year.

oPeRatIoNal anD fInAncIaL rEvIewPrincipal acti viti es to meet objecti ves For the year ended 30 June 2013, Youth Off The Streets Limited reported a defi cit of $1,050,696 (2012: surplus $4,955,730) which represented a 121 per cent decrease on prior year. Income received from government decreased by nine per cent from $8,740,388 in 2012 to $7,970,325 in 2013. This income represented 46 per cent of total revenue.

We received $1,738,221 throughout the year for capital projects which allowed us to ensure staff and young people are provided with adequate infrastructure resources to maximise learning and development outcomes. These included:

• $1,698,221 from the Regional Development Authority Funding for the refurbishment of our Cordeaux Heights facility, and

444

dIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrt

aNnA aInSwoRTh, GaicdDirectorAnna has been a Director since 2002. She served as Chairperson of the Board from 2008 to February 2011. Anna is the Community Development Manager of Eden Gardens and Garden Centre, North Ryde and a Director of the Eden Foundati on.

Her earlier career was in Public Health Practi ce where she worked as a Paediatric physiotherapist.

Anna is a member of the Development Advisory Committ ee of the Botanic Gardens and Domain Trust and a member of Philanthropy Australia through the Eden Foundati on.

Anna holds a post graduate Diploma in Physiotherapy from Cumberland College of Health Services and a Bachelor of Science from the University of New South Wales. She is a graduate Member of the Australian Insti tute of Company Directors and a graduate of the Benevolent Society Sydney Leadership Program.


• Services Committ ee – Chair

rEbEccA lYncHDirectorRebecca has been a Director since 2005.

Rebecca is a special counsel at Herbert Geer Lawyers. She holds a LLB (Bachelor of Laws) from the University of Sydney and brings with her a great deal of experience in the legal profession. Rebecca has practi sed in the area of commercial liti gati on for over 30 years. She was a partner at DLA Phillips Fox unti l she reti red from the partnership in May 2007.

Rebecca is admitt ed as a Solicitor of the Supreme Court of New South Wales (1979), Northern Territory (1992) and South Australia (1994). Rebecca also received offi cial accreditati on as a mediator by LEADR (1994). Rebecca is a member of the Law Society of NSW.



• Nominati on Committ ee – Chair

rIcHarD jOhN gIbbSGaicd Chairman Richard has been a Director since 2006. He was appointed Chairperson in February 2011. Richard is the Global Head of Economics and Chief Economist at Macquarie Group, where he is responsible for providing analysis and strategic advice on developments in domesti c and internati onal economies, and investment markets. He plays a key strategic advisory role in support of Macquarie Group’s securiti es trading, banking services, corporate fi nance, infrastructure and funds management businesses. He also acts as a specialist adviser to the Boards of several of the Group’s major insti tuti onal clients and provides strategic advice to the Board of Macquarie Group.

Richard holds a Bachelor of Economics (Hons) and a Master of Internati onal Economics and Finance specialising in macroeconomic policy, fi nance and public policy administrati on. He also holds a Graduate Diploma in Applied Finance and Investment from the Securiti es Insti tute of Australia, a Master of Business Administrati on and a Graduate Diploma in Executi ve Performance Management.

Richard is a member of the Australian Business Economists and the Nati onal Associati on of Business Economics (NABE) in the United States. He is a member of the Advisory Board for the Australian Nati onal University, School of Arab and Islamic Studies, a Trustee for the Committ ee for the Economic Development of Australia (CEDA), a Member of the Australia-Oman Business Council, a Fellow of the Financial Services Insti tute of Australasia (FINSIA) and Graduate Member of the Australian Insti tute of Company Directors.


• Development Committ ee – Chair


bErNie mOorE(resigned eff ecti ve 18 July 2012)DirectorBernie Moore has been a Director since 2008 and was appointed Company Secretary in 2005. Bernie was the Company Secretary of Espreon Limited, requiring extensive experience in managing the fi nancial and administrati on divisions of the business. He is an Associate of the Insti tute of Chartered Secretaries and Administrators and a Fellow of the Insti tute of Public Accountants.

In earlier years Bernie served as a soldier in the Australian Army, including 5 years as a member of the Special Air Service Regiment, of which he sti ll has an affi liati on serving as Treasurer of the Australian SAS Regiment Associati on (NSW Branch).


• Audit, Finance and Risk Committ ee – Company Secretary.

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rIcHarD JohN (riCk) mIlLenDirectorRick has been a Director since 2007. Rick was a partner of Pricewaterhouse Coopers (PwC) (reti red June 2011). During his ti me, Rick led the Advisory Practi ce and sat on PwC’s leadership team. For fi ve years from 2006 to 2011 Rick led PwC’s corporate responsibility agenda in Australia including running the PwC Foundati on. From 2008 to 2010 Rick also coordinated PwC’s corporate responsibility agenda globally in some 140 territories.

Rick is a director of Australia for UNHCR.

Rick holds a BA in Law from Oxford University and is a member of the Insti tute of Chartered Accountants in Australia.


• Development Committ ee

• The Audit, Finance and Risk Committ ee – Chair

rObyN rIdGewAy (resigned eff ecti ve 17 October 2012)DirectorRobyn has been a Director since 2009. She is a proud Aboriginal Women and has worked in the area of Aboriginal educati on since 1996. Her current positi on is the Course Manager and Teacher of Aboriginal Courses at the Open Training and Educati on Network (OTEN) which is the distance educati on arm of Western Sydney Insti tute (WSI) TAFE.

Robyn is a member of the Western Sydney Insti tute TAFE Advisory Council, the Aboriginal Studies Discipline Expert for the Insti tute and is also involved in several committ ees as part of her positi on at OTEN. She is acti vely involved in the writi ng, editi ng and reviewing of relevant student resources for the courses she manages.

She is a member of the NSW Writers Centre, Friends of Tranby Aboriginal College and was involved in the producti on of a short fi lm ti tled ‘A Walk Through Country’ produced specifi cally for the Diploma of Aboriginal Studies. This short fi lm was a fi nalist in the 2006 New York Film Festi val.



• Aboriginal Services Committ ee

dEbOraH tHomAs, Maicd (joined 22 August 2013)DirectorDeborah joined the board of Youth Off The Streets in August, 2013. One of the country’s most successful and experienced magazine editors, Deborah was at the helm of Australia’s biggest selling magazine, The Australian Women’s Weekly, for a decade and has been editi ng some of our most popular women’s magazines for over 20 years, before moving to a corporate role within ACP Magazines, now Bauer Media.

In her current role as Director of Media, Public Aff airs and Brand Development across Bauer Media’s portf olio of 70-plus magazines, websites and social media, Deborah is responsible for all media, events and PR, corporate aff airs, communicati ons, brand licensing and sponsorships, as well as key adverti sing relati onships and company initi ati ves.

In 2012 Deborah was elected to local government as a Councillor for Woollahra Municipal Council. She is also Deputy Chair of the Nati onal Library of Australia, a member of the ANZAC Centenary Advisory Board and a founding patron of the Taronga Conservati on Foundati on.

DividEnds The Company is a non-profi t organisati on and the Consti tuti on of the Company prohibits the payment of a dividend.

pRiNciPaL aCtIviTieSYouth Off The Streets Limited was incorporated in New South Wales on 30 April 2002. The principal acti vity of the Company is the provision of rehabilitati on services to youth aff ected by drugs, alcohol and homelessness. Youth Off The Streets Limited commenced operati ng as a company, limited by guarantee, on 1 April 2003. There have been no signifi cant changes in the nature of these acti viti es during the year.

oPeRatIoNal anD fInAncIaL rEvIewPrincipal acti viti es to meet objecti ves For the year ended 30 June 2013, Youth Off The Streets Limited reported a defi cit of $1,050,696 (2012: surplus $4,955,730) which represented a 121 per cent decrease on prior year. Income received from government decreased by nine per cent from $8,740,388 in 2012 to $7,970,325 in 2013. This income represented 46 per cent of total revenue.

We received $1,738,221 throughout the year for capital projects which allowed us to ensure staff and young people are provided with adequate infrastructure resources to maximise learning and development outcomes. These included:

• $1,698,221 from the Regional Development Authority Funding for the refurbishment of our Cordeaux Heights facility, and

youth off the streets 2013 7youth off the streets 2013 7youth off the streets 2013

dIrEctORs’ rEpOrt

66

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• $40,000 from the Associati on of Independent Schools, being the fi nal payment for the constructi on of EDEN College, Koch Centre for Youth at Macquarie Fields.

Operati ng results for the yearThe defi cit for the Company for the year ended 30 June 2013 was $1,050,696 (2012: surplus $4,955,730).

sHorT tErM aND lOnG tErM oBjEctIveS anD sTrAteGyYouth Off The Streets will conti nue to provide services consistent with our mission of helping disconnected young people discover greatness within, by engaging, supporti ng and providing opportuniti es to encourage and facilitate positi velife choices.

Our 25 services include crisis accommodati on, alcohol and other drug services, counselling, accredited high schools, centres for youth, outreach programs and specialised residenti al programs. This is in accordance with our existi ng three year Strategic Plan, which is reviewed annually to ensure that the organisati on is well positi oned to meet new challenges in our key focus areas. See page 14 and 15 for detail on our Strategy.

As outlined on page 33, Youth Off The Streets has conti nued to outline the impact of our likely growth in services on our expected fi nancial results for the next three years, as part of our focus on providing a framework for a sustainable future through accountable, professional and collaborati ve practi ce. Youth Off The Streets will conti nue to rely on the fi nancial support of various federal, state and local governments provided through relevant grants and the generosity of individuals and private and corporate donors. The organisati on has implemented the fi rst set of recommendati ons to the structure of our fundraising strategy and brand development model following on from the fundraising and brand review that took place from January to June 2012.

The Board conti nues to set clear expectati ons about the number and quality of programs provided to young people. The Board has agreed, in line with the Chief Executi ve Offi cer, to measurable outputs for each service, and performance reports noti ng the progress made towards achieving these outputs are reviewed at the monthly Board meeti ng.

pErForMaNce mEaSurEmEntDonati on revenue of $6,941,635 (2012: $10,842,143) decreased by 36 per cent. This represented 40 per cent of total revenue.

Expenditure for the year was $18,410,689 (2012: $17,491,237). This increase of 5 per cent was largely the result of increased staffi ng cost.

lIkEly dEvEloPmEntS And eXpEctED rEsUltSKoch Centre for Youth, Macquarie FieldsThe Koch Centre for Youth has refocused towards becoming a Centre for Educati onal Innovati on for disadvantaged young people in the area. This new approach will commence in the 2014 calendar year. In preparati on for this change, two staff

were trained by Social Ventures Australia, during 2013, in the fundamentals of the Social Return on Investment (SROI) method. A small group of staff are now in the preparati on stages of developing a whole-of-Centre forecast SROI. It aims to identi fy the anti cipated social impacts and SROI rati os for the educati onal work that will begin implementati on from the 2014 calendar year. This process will be conducted in close consultati on with young people who att end the centre, community members and key stakeholders.

Cordeaux Heights Centre for Youth, Illawarra The refurbishment of the Keelong Juvenile Justi ce Centre in the Illawarra Region began in April 2012 and was completed in December 2012. The refurbished Centre is now the Cordeaux Heights Centre for Youth, which opened in March 2013, and was up and running from June 2013. The Centre aims to co-locate educati onal and residenti al programs and services, and to work within local communiti es and with other local area service providers to facilitate a range of opportuniti es and services for disadvantaged youth between the ages of 12 and 21 years. It will provide a safe and engaging environment for young people who may att end Craig Davis College, reside in the Barbara Holborow Bail Accommodati on Service or the Aboriginal Residenti al Care Services program and who parti cipate in Community Outreach programs.

To formulate a Leadership Conti nuity Plan The need for a Leadership Conti nuity Plan was identi fi ed during last year’s annual revision of our existi ng three year Strategic Plan. The Plan identi fi ed and aligned one Board member and two Committ ee members using existi ng Board and Committ ee Charters and Policies. In additi on, Youth Off The Streets has reviewed reporti ng lines and structure to accommodate planned business growth. The review meets existi ng business needs and has the potenti al to align with future business needs. The Board began the review of succession planning for the Chief Executi ve Offi cer and the Senior Management Team in May 2013 and recommendati ons will be discussed at the Board Strategy Day in October 2013.

To conti nue the expansion of educati on and social support services provided to Aboriginal youthApproximately 19 per cent of the young people in Youth Off The Streets programs identi fy as Aboriginal, an increase from 17 per cent recorded last year. As part of our commitment to provide culturally appropriate care to all young people in our services, we have developed strategies to specifi cally support the long term outcomes of young Aboriginal people in our programs. Aboriginal Services works across the organisati on to ensure the rights, needs and aspirati ons of Aboriginal young people are considered and met throughout all programs.

In 2012/13, Youth Off The Streets appointed two full ti me Aboriginal youth workers. This allowed support to be provided to the existi ng Aboriginal senior youth worker at the Koch Centre for Youth. It resulted in the creati on of a Men’s Business group, cultural camps and cultural acti viti es, which educates young people from Aboriginal communiti es about their culture and others about respecti ng Aboriginal culture. The team conti nue to regularly meet with members of local Aboriginal communiti es, services and Aboriginal Elders for a whole-of-community approach to assisti ng youth from Aboriginal families.

ASPIRE, the Aboriginal Educati on Program at Key College, Chapel School, Merrylands Campus, was developed last year to help Aboriginal students realise their full potenti al. The ASPIRE Program is for students in Year 9 and 10, although all Aboriginal students in Youth Off The Streets can be involved in the cultural acti viti es.

In 2013/14, Youth Off The Streets will expand existi ng Aboriginal Services. We will deliver a range of culturally appropriate youth programs and acti viti es across Youth Off The Streets services, including: Outreaches in new areas such as Logan, Queensland and South Eastern Sydney; Educati on; Residenti al and the Cordeaux Heights facility in the Illawarra Region. This will be done through increasing pro-acti vity and effi ciency in securing long term funding streams to support our existi ng programs and anti cipated growth.

cApItaL pRoJecTSYouth Off The Streets has three capital projects that may commence in the next fi ve years. The fi rst is the building of a Trade Centre on the Chapel School, Key College, Merrylands Campus in the fi rst quarter of 2014. This centre will enable Youth Off The Streets to expand its Technical and Applied Studies (TAS) through the development and purchase of TAS specifi c buildings and equipment. The aim is to off er Board of Studies endorsed subjects for TAS from the fi rst term 2015. The second project is in Doonside, Western Sydney where Youth Off The Streets is working with Western Sydney Parklands Trust with the view of establishing an Educati onal Centre in the future. The fi nal project on the horizon is the possibility of constructi ng a centre in Narrandera, Western NSW to meet the needs of the young people in the local community.

eXpAnsIoN oF oUtReaCH mOdeLIn April 2013, a public announcement was made that Youth Off The Streets would receive $5 million in Federal Government funding to extend our Outreach Service into 10 new locati ons over the next two years. The investment is part of the $40 million Nati onal Crime Preventi on Fund, which is funded from the confi scated proceeds of crime. Through research and community consultati on, Youth Off The Streets identi fi ed areas that would benefi t from our successful Outreach model. We work with the community, organisati ons, the local government and the young people there to provide the interventi on and diversionary services. Outreach can empower young people to parti cipate in their community and transform their future through the development of their skills, confi dence and relati onships with each other, their families and the community. We will provide jobs in the area as we hire the Program Manager and Trainee Youth Workers from the community to help get each service started.

666

dIrEctORs’ rEpOrtdIrEctORs’ rEpOrt

• $40,000 from the Associati on of Independent Schools, being the fi nal payment for the constructi on of EDEN College, Koch Centre for Youth at Macquarie Fields.

Operati ng results for the yearThe defi cit for the Company for the year ended 30 June 2013 was $1,050,696 (2012: surplus $4,955,730).

sHorT tErM aND lOnG tErM oBjEctIveS anD sTrAteGyYouth Off The Streets will conti nue to provide services consistent with our mission of helping disconnected young people discover greatness within, by engaging, supporti ng and providing opportuniti es to encourage and facilitate positi velife choices.

Our 25 services include crisis accommodati on, alcohol and other drug services, counselling, accredited high schools, centres for youth, outreach programs and specialised residenti al programs. This is in accordance with our existi ng three year Strategic Plan, which is reviewed annually to ensure that the organisati on is well positi oned to meet new challenges in our key focus areas. See page 14 and 15 for detail on our Strategy.

As outlined on page 33, Youth Off The Streets has conti nued to outline the impact of our likely growth in services on our expected fi nancial results for the next three years, as part of our focus on providing a framework for a sustainable future through accountable, professional and collaborati ve practi ce. Youth Off The Streets will conti nue to rely on the fi nancial support of various federal, state and local governments provided through relevant grants and the generosity of individuals and private and corporate donors. The organisati on has implemented the fi rst set of recommendati ons to the structure of our fundraising strategy and brand development model following on from the fundraising and brand review that took place from January to June 2012.

The Board conti nues to set clear expectati ons about the number and quality of programs provided to young people. The Board has agreed, in line with the Chief Executi ve Offi cer, to measurable outputs for each service, and performance reports noti ng the progress made towards achieving these outputs are reviewed at the monthly Board meeti ng.

pErForMaNce mEaSurEmEntDonati on revenue of $6,941,635 (2012: $10,842,143) decreased by 36 per cent. This represented 40 per cent of total revenue.

Expenditure for the year was $18,410,689 (2012: $17,491,237). This increase of 5 per cent was largely the result of increased staffi ng cost.

lIkEly dEvEloPmEntS And eXpEctED rEsUltSKoch Centre for Youth, Macquarie FieldsThe Koch Centre for Youth has refocused towards becoming a Centre for Educati onal Innovati on for disadvantaged young people in the area. This new approach will commence in the 2014 calendar year. In preparati on for this change, two staff

were trained by Social Ventures Australia, during 2013, in the were trained by Social Ventures Australia, during 2013, in the were trained by Social Ventures Australia, during 2013, in the were trained by Social Ventures Australia, during 2013, in the fundamentals of the Social Return on Investment (SROI) method. fundamentals of the Social Return on Investment (SROI) method. fundamentals of the Social Return on Investment (SROI) method. A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of A small group of staff are now in the preparati on stages of developing a whole-of-Centre forecast SROI. It aims to identi fy developing a whole-of-Centre forecast SROI. It aims to identi fy developing a whole-of-Centre forecast SROI. It aims to identi fy the anti cipated social impacts and SROI rati os for the educati onal the anti cipated social impacts and SROI rati os for the educati onal work that will begin implementati on from the 2014 calendar work that will begin implementati on from the 2014 calendar year. This process will be conducted in close consultati on with year. This process will be conducted in close consultati on with young people who att end the centre, community members and young people who att end the centre, community members and key stakeholders.

Cordeaux Heights Centre for Youth, Illawarra The refurbishment of the Keelong Juvenile Justi ce Centre in the Illawarra Region began in April 2012 and was completed in December 2012. The refurbished Centre is now the Cordeaux Heights Centre for Youth, which opened in March 2013, and was up and running from June 2013. The Centre aims to co-locate educati onal and residenti al programs and services, and to work within local communiti es and with other local area service providers to facilitate a range of opportuniti es and services for disadvantaged youth between the ages of 12 and 21 years. It will provide a safe and engaging environment for young people who may att end Craig Davis College, reside in the Barbara Holborow Bail Accommodati on Service or the Aboriginal Residenti al Care Services program and who parti cipate in Community Outreach programs.

To formulate a Leadership Conti nuity Plan The need for a Leadership Conti nuity Plan was identi fi ed during last year’s annual revision of our existi ng three year Strategic Plan. The Plan identi fi ed and aligned one Board member and two Committ ee members using existi ng Board and Committ ee Charters and Policies. In additi on, Youth Off The Streets has reviewed reporti ng lines and structure to accommodate planned business growth. The review meets existi ng business needs and has the potenti al to align with future business needs. The Board began the review of succession planning for the Chief Executi ve Offi cer and the Senior Management Team in May 2013 and recommendati ons will be discussed at the Board Strategy Day in October 2013.

To conti nue the expansion of educati on and social support services provided to Aboriginal youthApproximately 19 per cent of the young people in Youth Off The Streets programs identi fy as Aboriginal, an increase from 17 per cent recorded last year. As part of our commitment to provide culturally appropriate care to all young people in our services, we have developed strategies to specifi cally support the long term outcomes of young Aboriginal people in our programs. Aboriginal Services works across the organisati on to ensure the rights, needs and aspirati ons of Aboriginal young people are considered and met throughout all programs.

In 2012/13, Youth Off The Streets appointed two full ti me Aboriginal youth workers. This allowed support to be provided to the existi ng Aboriginal senior youth worker at the Koch Centre for Youth. It resulted in the creati on of a Men’s Business group, cultural camps and cultural acti viti es, which educates young people from Aboriginal communiti es about their culture and others about respecti ng Aboriginal culture. The team conti nue to regularly meet with members of local Aboriginal communiti es, services and Aboriginal Elders for a whole-of-community approach to assisti ng youth from Aboriginal families.

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dIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrt

ASPIRE, the Aboriginal Educati on Program at Key College, Chapel School, Merrylands Campus, was developed last year to help Aboriginal students realise their full potenti al. The ASPIRE Program is for students in Year 9 and 10, although all Aboriginal students in Youth Off The Streets can be involved in the cultural acti viti es.

In 2013/14, Youth Off The Streets will expand existi ng Aboriginal Services. We will deliver a range of culturally appropriate youth programs and acti viti es across Youth Off The Streets services, including: Outreaches in new areas such as Logan, Queensland and South Eastern Sydney; Educati on; Residenti al and the Cordeaux Heights facility in the Illawarra Region. This will be done through increasing pro-acti vity and effi ciency in securing long term funding streams to support our existi ng programs and anti cipated growth.

cApItaL pRoJecTSYouth Off The Streets has three capital projects that may commence in the next fi ve years. The fi rst is the building of a Trade Centre on the Chapel School, Key College, Merrylands Campus in the fi rst quarter of 2014. This centre will enable Youth Off The Streets to expand its Technical and Applied Studies (TAS) through the development and purchase of TAS specifi c buildings and equipment. The aim is to off er Board of Studies endorsed subjects for TAS from the fi rst term 2015. The second project is in Doonside, Western Sydney where Youth Off The Streets is working with Western Sydney Parklands Trust with the view of establishing an Educati onal Centre in the future. The fi nal project on the horizon is the possibility of constructi ng a centre in Narrandera, Western NSW to meet the needs of the young people in the local community.

eXpAnsIoN oF oUtReaCH mOdeLIn April 2013, a public announcement was made that Youth Off The Streets would receive $5 million in Federal Government funding to extend our Outreach Service into 10 new locati ons over the next two years. The investment is part of the $40 million Nati onal Crime Preventi on Fund, which is funded from the confi scated proceeds of crime. Through research and community consultati on, Youth Off The Streets identi fi ed areas that would benefi t from our successful Outreach model. We work with the community, organisati ons, the local government and the young people there to provide the interventi on and diversionary services. Outreach can empower young people to parti cipate in their community and transform their future through the development of their skills, confi dence and relati onships with each other, their families and the community. We will provide jobs in the area as we hire the Program Manager and Trainee Youth Workers from the community to help get each service started.


aUdItoR’S iNdEpeNdEncE dEcLarAtIon

88

dIrEctORs’ rEpOrt

dIrEctORs’ mEeTinGSThe number of meeti ngs of Directors held during the year and the number of meeti ngs att ended by each Director were as follows:

Bernard Moore ceased as an Officeholder 18/7/12.

Robyn Ridgeway’s resignation was effective 17/10/12.

cOmMitTeE mEmBerShIpDirectors acti ng on the committ ees of the Board and the meeti ngs att ended are as follows

mEmbEr’S gUaRanTeEThe Company is a public company limited by guarantee that is incorporated and domiciled in Australia. If the Company is wound up, its Consti tuti on states that each member is required to contribute a maximum of $20 each towards meeti ng any outstanding obligati ons of the Company. The total liability of members in the event of winding up the Company is $380 (2012: $380).

At 30 June 2013 the number of members was 19 (2012: 19 members). The maximum number of members allowed under the Company’s Consti tuti on is 100 members.

aUdItoR iNdEpeNdEncEThe Directors received an independence declarati on from the auditor, Ernst & Young.

Signed in accordance with the resoluti on of the Directors.

Christopher Keith Riley, Director Sydney, 2013

Richard John Gibbs, Director Sydney, 2013

Name of DirectorsNo. of meeti ngs

had while in offi ce

No. of meeti ngs att ended

Christopher Keith Riley 10 10

Craig Stuart Davis 10 9

Anna Maree Ainsworth 10 10

Rebecca Monica Grace Lynch 10 10

Richard John Gibbs 10 9

Richard John (Rick) Millen 10 9

Robyn Gail Ridgeway* 4 2

Bernard Moore* 1 0








Services Committ ee Meeti ngs






Development Committ ee Meeti ngs







Nominati ons Committ ee Meeti ngs







Bernard Moore 1 0

Audit, Finance and Risk Committ ee Meeti ngs

888

dIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrtdIrEctORs’ rEpOrt

dIrEctORs’ mEeTinGSThe number of meeti ngs of Directors held during the year and the number of meeti ngs att ended by each Director were as follows:

Bernard Moore ceased as an Officeholder 18/7/12.

Robyn Ridgeway’s resignation was effective 17/10/12.

cOmMitTeE mEmBerShIpDirectors acti ng on the committ ees of the Board and the meeti ngs att ended are as follows

mEmbEr’S gUaRanTeEThe Company is a public company limited by guarantee that is incorporated and domiciled in Australia. If the Company is wound up, its Consti tuti on states that each member is required to contribute a maximum of $20 each towards meeti ng any outstanding obligati ons of the Company. The total liability of members in the event of winding up the Company is $380 (2012: $380).

At 30 June 2013 the number of members was 19 (2012: 19 members). The maximum number of members allowed under the Company’s Consti tuti on is 100 members.

aUdItoR iNdEpeNdEncEThe Directors received an independence declarati on from the auditor, Ernst & Young.

Signed in accordance with the resoluti on of the Directors.

Christopher Keith Riley, Director Sydney, 2013

Richard John Gibbs, Director Sydney, 2013





Craig Stuart Davis 10 9






Bernard Moore* 1 0








Services Committ ee Meeti ngs






Development Committ ee Meeti ngs







Nominati ons Committ ee Meeti ngs







Bernard Moore 1 0

Audit, Finance and Risk Committ ee Meeti ngs


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fInAncIal sTatemEnts & nOtEs To thE fInAncIaL sTaTemEntS

1010

fInAncIal sTatemEnts

sTaTemEnT oF cOmPreHeNsiVE iNcOmeFor the year ended 30 June 2013

The above STatement of Comprehensive Income should be read in conjunction with the accompanying notes.

sTaTemEnT oF fInAncIaL pOsItiONAs at 30 June 2013

The above Statement of Financial Position should be read in conjunction with the accompanying notes.

sTaTemEnT oF ChaNgE iN FunDSFor the year ended 30 June 2013

The above Statement of Changes in Funds should be read in conjunction with the accompanying notes.

Note 2013 2012

$ $

Government grants 7,930,324 8,740,388

Donati ons 6,941,635 10,842,143

Fundraising 1,657,617 1,958,583

Finance revenue 4(a) 688,002 641,931

Other income 4(b) 102,415 263,922

Revenue 17,359,993 22,446,967

Employee benefi ts expense 4(c) (12,732,121) (11,890,752)

Depreciati on expense 4(d) (895,030) (631,607)

Other expenses 4(e) (4,783,538) (4,968,878)

(Defi cit)/surplus before income tax (1,050,696) 4,955,730

Income tax expense - -

(Defi cit)/surplus forthe year (1,050,696) 4,955,730

Other comprehensive income - -

Total comprehensive (loss)/income for the year (1,050,696) 4,955,730

Note 2013 2012

$ $

Assets

Current assets

Cash and cash equivalents 5 3,196,413 5,548,925

Other receivables 6 51,170 95,233

Other current assets 7 3,616,530 6,425,147

Assets classifi ed as held for sale 470,711 1,016,955

Total current assets 7,334,824 13,086,260

Non-current assets

Investments 8 3,833,596 1,745,631

Property, plant and equipment 9 19,753,748 17,516,734

ContributedFunds

$

RetainedSurplus

$

TotalFunds

$

At 1 July 2011 4,295,888 20,020,811 24,316,699

Surplus for the year - 4,955,730 4,955,730

Other comprehensive income - - -

Total comprehensive income for the year - 4,955,730 4,955,730

At 30 June 2012 4,295,888 24,976,541 29,272,429

Defi cit for the year - (1,050,696) (1,050,696)


Total comprehensive loss for the year - (1,050,696) (1,050,696)

At 30 June 2013 4,295,888 23,925,845 28,221,733

Note 2013 2012

$

Total non-current assets 23,587,344 19,262,365

Total assets 30,922,168 32,348,625

Liabiliti es

Current liabiliti es

Trade and other payables 10 2,268,270 2,674,081

Provisions 11 134,661 93,334

Total current liabiliti es 2,402,931 2,767,415

Non-current liabiliti es

Provisions 11 297,504 308,781

Total non-current liabiliti es 297,504 308,781

Total liabiliti es 2,700,435 3,076,196

Net assets 28,221,733 29,272,429

Funds

Contributed funds 4,295,888 4,295,888

Retained surplus 23,925,845 24,976,541

Total funds 28,221,733 29,272,429

sTaTemEnT oF cAsH fLowSFor the year ended 30 June 2013

nOtEs To thE fInAncIaL sTaTemEntSFor the year ended 30 June 2013

1. cOrporate InforMation The fi nancial report of Youth Off The Streets Limited (the

Company) for the year ended 30 June 2013 was authorised for issue in accordance with a resoluti on of the directors on 16 October 2013.

Youth Off The Streets Limited is a company limited by guarantee incorporated and domiciled in Australia.

The registered offi ce and principal place of business of the Company is 133 O’Riordan Street, Mascot NSW 2020.

The nature of the operati ons and principal acti viti es of the Company are described in the Directors’ Report.

2. Summary of SigniFicant AccouNting Policies

a. Basis of preparati on

The fi nancial report is a general purpose fi nancial report, which has been prepared in accordance with the requirements of the Corporati ons Act 2001 - Reduced Disclosure Requirements and other authoritati ve pronouncements of the Australian Accounti ng Standards Board. Australian Accounti ng Standards contain requirements specifi c to not-for-profi t enti ti es, including standards AASB 116 Property, Plant and Equipment, AASB 136 Impairment of Assets and AASB 1004 Contributi ons.The fi nancial report has also been prepared on a historical cost basis, except for investments and other fi nancial assets, which have been measured at fair value.

The fi nancial report is presented in Australian dollars ($).

b. New accounti ng standards and interpretati ons Accounti ng standards and interpretati ons issued but not

yet eff ecti ve.

Certain Australian Accounti ng Standards and Interpretati ons have recently been issued or amended but are not yet eff ecti ve and have not been adopted by the Company for the annual reporti ng period ended 30 June 2013. The directors have not early adopted any of these new or amended standards or interpretati ons. The directors have not yet fully assessed the impact of these new or amended standards (to the extent relevant to the Company) and interpretati ons.

c. Cash and cash equivalents Cash and cash equivalents in the statement of fi nancial

positi on comprise cash at bank and in hand and short-term deposits with an original maturity of three months or less that are readily converti ble to known amounts of cash and which are subject to an insignifi cant risk of changes in value.For the purposes of the statement of cash fl ows, cash and cash equivalents consist of cash and cash equivalents as defi ned above.

2013 2012

$ $

Operati ng acti viti es

Receipts from donati ons, fundraising and grants 16,685,574 21,696,474

Payments to suppliers and employees (17,820,361) (16,904.621)

Dividends received 65,418 59,235

Interest received 622,584 582,696

Net cash fl ows (used in)/from operati ng acti viti es (446,785) 5,433,784

Investi ng acti viti es

Proceeds from sale of property, plant and equipment 498,831 622,860

Purchase of property, plant and equipment (3,160,766) (6,217,730)

Purchase of other fi nancial assets (2,057,485) (974,796)

Proceeds from short-term deposits 2,813,693 -

Purchase of short-term deposits - (1,683,833)

Net cash fl ows used in investi ng acti viti es (1,905,727) (8,253,499)

Financing acti viti es

Net cash fl ows from fi nancing acti viti es - -

Net decrease in cash and cash equivalents (2,352,512) (2,819,715)

Cash and cash equivalents at 1 July 5,548,925 8,368,640

Cash and cash equivalents at 30 June 3,196,413 5,548,925

The above Statement of Cash Flows should be read in conjunction with the accompanying notes.

101010

fInAncIal sTatemEntsfInAncIal sTatemEntsfInAncIal sTatemEntsfInAncIal sTatemEnts

sTaTemEnT oF cOmPreHeNsiVE iNcOmeFor the year ended 30 June 2013

The above STatement of Comprehensive Income should be read in conjunction with the accompanying notes.

sTaTemEnT oF fInAncIaL pOsItiONAs at 30 June 2013

The above Statement of Financial Position should be read in conjunction with the accompanying notes.

sTaTemEnT oF ChaNgE iN FunDSFor the year ended 30 June 2013

The above Statement of Changes in Funds should be read in conjunction with the accompanying notes.The above Statement of Changes in Funds should be read in conjunction with the accompanying notes.The above Statement of Changes in Funds should be read in

Note 2013 2012

$ $


Donati ons 6,941,635 10,842,143

Fundraising 1,657,617 1,958,583

Finance revenue 4(a) 688,002 641,931

Other income 4(b) 102,415 263,922

Revenue 17,359,993 22,446,967

Employee benefi ts expense 4(c) (12,732,121) (11,890,752)

Depreciati on expense 4(d) (895,030) (631,607)

Other expenses 4(e) (4,783,538) (4,968,878)

(Defi cit)/surplus before income tax (1,050,696) 4,955,730

Income tax expense - -

(Defi cit)/surplus forthe year (1,050,696) 4,955,730

Other comprehensive income - -

Total comprehensive (loss)/income for the year (1,050,696) 4,955,730

Note 2013 2012

$ $

Assets

Current assets

Cash and cash equivalents 5 3,196,413 5,548,925

Other receivables 6 51,170 95,233

Other current assets 7 3,616,530 6,425,147

Assets classifi ed as held for sale 470,711 1,016,955

Total current assets 7,334,824 13,086,260

Non-current assets

Investments 8 3,833,596 1,745,631

Property, plant and equipment 9 19,753,748 17,516,734

ContributedFunds

$

RetainedSurplus

$

TotalFunds

$

At 1 July 2011 4,295,888 20,020,811 24,316,699

Surplus for the year - 4,955,730 4,955,730


Total comprehensive income for the year - 4,955,730 4,955,730

At 30 June 2012 4,295,888 24,976,541 29,272,429

Defi cit for the year - (1,050,696) (1,050,696)


Total comprehensive loss for the year - (1,050,696) (1,050,696)

At 30 June 2013 4,295,888 23,925,845 28,221,733

Note 2013 2012

$

Total non-current assets 23,587,344 19,262,365

Total assets 30,922,168 32,348,625

Liabiliti es

Current liabiliti es

Trade and other payables 10 2,268,270 2,674,081

Provisions 11 134,661 93,334

Total current liabiliti es 2,402,931 2,767,415

Non-current liabiliti es

Provisions 11 297,504 308,781

Total non-current liabiliti es 297,504 308,781

Total liabiliti es 2,700,435 3,076,196

Net assets 28,221,733 29,272,429

Funds

Contributed funds 4,295,888 4,295,888

Retained surplus 23,925,845 24,976,541

Total funds 28,221,733 29,272,429


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sTaTemEnT oF cAsH fLowSFor the year ended 30 June 2013

nOtEs To thE fInAncIaL sTaTemEntSFor the year ended 30 June 2013

1. cOrporate InforMation The fi nancial report of Youth Off The Streets Limited (the

Company) for the year ended 30 June 2013 was authorised for issue in accordance with a resoluti on of the directors on 16 October 2013.

Youth Off The Streets Limited is a company limited by guarantee incorporated and domiciled in Australia.

The registered offi ce and principal place of business of the Company is 133 O’Riordan Street, Mascot NSW 2020.

The nature of the operati ons and principal acti viti es of the Company are described in the Directors’ Report.

2. Summary of SigniFicant AccouNting Policies

a. Basis of preparati on The fi nancial report is a general purpose fi nancial report, which

has been prepared in accordance with the requirements of the Corporati ons Act 2001 - Reduced Disclosure Requirements and other authoritati ve pronouncements of the Australian Accounti ng Standards Board. Australian Accounti ng Standards contain requirements specifi c to not-for-profi t enti ti es, including standards AASB 116 Property, Plant and Equipment, AASB 136 Impairment of Assets and AASB 1004 Contributi ons.The fi nancial report has also been prepared on a historical cost basis, except for investments and other fi nancial assets, which have been measured at fair value.

The fi nancial report is presented in Australian dollars ($).

b. New accounti ng standards and interpretati onsAccounti ng standards and interpretati ons issued but notyet eff ecti ve.

Certain Australian Accounti ng Standards and Interpretati ons have recently been issued or amended but are not yet eff ecti ve and have not been adopted by the Company for the annual reporti ng period ended 30 June 2013. The directors have not early adopted any of these new or amended standards or interpretati ons. The directors have not yet fully assessed the impact of these new or amended standards (to the extent relevant to the Company) and interpretati ons.

c. Cash and cash equivalents Cash and cash equivalents in the statement of fi nancial

positi on comprise cash at bank and in hand and short-term deposits with an original maturity of three months or less that are readily converti ble to known amounts of cash and which are subject to an insignifi cant risk of changes in value.For the purposes of the statement of cash fl ows, cash and cash equivalents consist of cash and cash equivalents as defi ned above.

2013 2012

$ $

Operati ng acti viti es

Receipts from donati ons, fundraising and grants 16,685,574 21,696,474

Payments to suppliers and employees (17,820,361) (16,904.621)

Dividends received 65,418 59,235


Net cash fl ows (used in)/from operati ng acti viti es (446,785) 5,433,784

Investi ng acti viti es

Proceeds from sale of property, plant and equipment 498,831 622,860

Purchase of property, plant and equipment (3,160,766) (6,217,730)

Purchase of other fi nancial assets (2,057,485) (974,796)

Proceeds from short-term deposits 2,813,693 -

Purchase of short-term deposits - (1,683,833)

Net cash fl ows used in investi ng acti viti es (1,905,727) (8,253,499)

Financing acti viti es

Net cash fl ows from fi nancing acti viti es - -

Net decrease in cash and cash equivalents (2,352,512) (2,819,715)

Cash and cash equivalents at 1 July 5,548,925 8,368,640

Cash and cash equivalents at 30 June 3,196,413 5,548,925

The above Statement of Cash Flows should be read in conjunction with the accompanying notes.

1212

nOtEs To thE fInAncIaL sTaTemEntS



d. Other receivables Other receivables are recognised initi ally at fair value and

subsequently measured at amorti sed cost using the eff ecti ve interest method, less an allowance for impairment. Collecti bility of other receivables is reviewed on an ongoing basis. Individual debts that are known to be uncollecti ble are writt en off when identi fi ed. An impairment provision is recognised when there is objecti ve evidence that the Company will not be able to collect the receivable.

e. Investments and other fi nancial assets Investments and fi nancial assets in the scope of AASB 139

Financial Instruments: Recogniti on and Measurement are categorised as either fi nancial assets at fair value through profi t or loss, loans and receivables, held-to-maturity investments, or available-for-sale fi nancial assets. The classifi cati on depends on the purpose for which the investments were acquired. Designati on is re-evaluated at each reporti ng date, but there are restricti ons on reclassifying to other categories

When fi nancial assets are recognised initi ally, they are measured at fair value, plus, in the case of assets not at fair value through profi t or loss, directly att ributable transacti on costs.

Recogniti on and derecogniti on

All regular way purchases and sales of fi nancial assets are recognised on the trade date i.e., the date that the Company commits to purchase the asset. Regular way purchases or sales are purchases or sales of fi nancial assets under contracts that require delivery of the assets within the period established generally by regulati on or conventi on in the market place.

Financial assets are derecognised when the right to receive cash fl ows from the fi nancial assets have expired or when the enti ty transfers substanti ally all the risks and rewards, it derecognises the asset if it has transferred control of the assets.

Subsequent measurement

Financial assets at fair value through profi t or loss

Financial assets are classifi ed as ‘fi nancial assets designated at fair value through profi t or loss’ as the group of fi nancial assets is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management strategy and informati on about the group is provided internally on that basis to the enti ty’s key management personnel. Gains or losses on fi nancial assets at fair value through profi t or loss are recognised in profi t or loss and the related assets are classifi ed as non-current assets in the statement of fi nancial positi on.

f. Property, plant and equipment Buildings, plant and equipment are stated at historical cost

less accumulated depreciati on and any impairment losses. Such cost includes the cost of replacing parts that are eligible for capitalisati on when the cost of replacing the parts is incurred. All other repairs and maintenance are recognised in the statement of comprehensive income as incurred.

Land is stated at historical cost less any impairment in value.

Property, plant and equipment acquired at no cost or for a nominal amount, is recognised at fair value as at the date of acquisiti on. Subsequent to initi al recogniti on, such property, plant and equipment is measured at cost, being the fair value at acquisiti on.

Depreciati on is calculated on a straight-line basis over the esti mated useful life of the specifi c assets as follows:

Buildings – over 25 to 40 years

Computers – 3 to 4 years

Furniture and fi tti ngs – 4 to 5 years

Motor vehicles – over 5 years

Plant and equipment – 4 to 5 years

An item of property, plant and equipment and any signifi cant part initi ally recognised is derecognised upon disposal or when no future economic benefi ts are expected from its use or disposal. Any gain or loss arising on derecogniti on of the asset (calculated as the diff erence between the net disposal proceeds and the carrying amount of the asset) is included in the statement of comprehensive income when the asset is derecognised.

The residual values, useful lives and methods of depreciati on of property, plant and equipment are reviewed at each fi nancial year end and adjusted prospecti vely, if appropriate.

g. Leases The determinati on of whether an arrangement is or contains

a lease is based on the substance of the arrangement at incepti on date, whether fulfi lment of the arrangement is dependent on the use of a specifi c asset or assets or the arrangement conveys a right to use the asset, even if that right is not explicitly specifi ed in an arrangement.

Company as a lesseeOperati ng lease payments are recognised as an operati ng expense in the statement of comprehensive income on a straight-line basis over the lease term.

h. Impairment of non-fi nancial assets Non-fi nancial assets are tested for impairment whenever

events or changes in circumstances indicate that the carrying amount may not be recoverable.

The Company conducts an internal review of asset values, which is used as a source of informati on to assess for any indicators of impairment. External factors, such as changes in expected future processes, technology and economic conditi ons, are also monitored to assess for indicators of impairment. If any indicati on of impairment exists, an esti mate of the asset’s recoverable amount is calculated.

An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identi fi able cash infl ows that are largely independent of the cash infl ows from other assets or groups of assets (cash-generati ng units). Non-fi nancial assets that suff ered an impairment are tested for possible reversal of the

impairment whenever events or changes in circumstances indicate that the impairment may have reversed.

i. Trade and other payables Trade and other payables are carried at amorti sed cost and

due to their short-term nature they are not discounted. They represent liabiliti es for goods and services provided to the Company prior to the end of the fi nancial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days of recogniti on.

j. Provisions Provisions are recognised when the Company has a present

obligati on (legal or constructi ve) as a result of a past event, it is probable that an outf low of resources embodying economic benefi ts will be required to sett le the obligati on and a reliable esti mate can be made of the amount of the obligati on. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relati ng to a provision is presented in the statement of comprehensive income net of any reimbursement.

Wages, salaries and annual leave

Liabiliti es for wages and salaries, including non-monetary benefi ts and annual leave expected to be sett led within 12 months of the reporti ng date are recognised in respect of employees’ services up to the reporti ng date. They are measured at the amounts expected to be paid when the liabiliti es are sett led.

Long service leaveThe liability for long service leave is recognised and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporti ng date using the projected unit credit method. Considerati on is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future payments are discounted using market yields at the reporti ng date on nati onal government bonds with terms to maturity and currencies that match, as closely as possible, the esti mated future cash outf lows.

k. Revenue recogniti on Revenue is recognised and measured at the fair value of

the considerati on received or receivable to the extent it is probable that the economic benefi ts will fl ow to the Company and the revenue can be reliably measured. The following specifi c recogniti on criteria must also be met before revenue is recognised:

(i) Government grantsGovernment grants are recognised when there is reasonable assurance that the Company will comply with the conditi ons att aching to them, and that the grants will be received.

(ii) Donati ons and fundraising incomeDonati ons and fundraising income are recognised as

income when received and when the Company is enti tled to receive the contributi on.

(iii) Donati ons-in-kindDonati ons-in-kind of assets or other services are recorded as revenue at the fair value to the Company where this can be quanti fi ed and a third party is bearing the cost. No amounts are included in the fi nancial statements for services provided by volunteers.

(vi) Interest revenue Revenue is recognised on a cash receipts basis.

(v) Dividends Revenue is recognised when the Company has received the dividend.

l. Income tax Youth Off The Streets Limited has approved status as an

income tax exempt charitable enti ty and therefore incurs no liability to pay income tax.

m. Other taxes Revenues, expenses and assets are recognised net of the

amount of GST except:

• when the GST incurred on a purchase of goods and services is not recoverable from the taxati on authority, in which case the GST is recognised as part of the cost of acquisiti on of the asset or as part of the expense item as applicable; and

• receivables and payables, which are stated with the amount of GST included.

n. Self-generati ng and regenerati ng assets Livestock assets are valued at cost at each

reporti ng date.

3. SigniFicant AccouNting JudgeMents, EstimAtes and AssumPtions

The preparati on of the Company’s fi nancial statements requires management to make judgements, esti mates and assumpti ons that aff ect the reported amounts of revenues, expenses, assets and liabiliti es, and the accompanying disclosures, and the disclosure of conti ngent liabiliti es. Uncertainty about these assumpti ons and esti mates could result in outcomes that require a material adjustment to the carrying amount of assets or liabiliti es aff ected in future periods.

Esti mates and assumpti ons The key assumpti ons concerning the future and other key sources of esti mati on uncertainty at the reporti ng date, that have a signifi cant risk of causing a material adjustment to the carrying amounts of assets and liabiliti es within the next fi nancial year, are described below. The Company based its assumpti ons and esti mates on parameters available when the fi nancial statements were prepared. Existi ng circumstances and assumpti ons about future developments, however, may change due to market changes or circumstances arising beyond the control of the Company. Such changes are refl ected in the assumpti ons when they occur.

121212

nOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntS

d. Other receivables Other receivables are recognised initi ally at fair value and

subsequently measured at amorti sed cost using the eff ecti ve interest method, less an allowance for impairment. Collecti bility of other receivables is reviewed on an ongoing basis. Individual debts that are known to be uncollecti ble are writt en off when identi fi ed. An impairment provision is recognised when there is objecti ve evidence that the Company will not be able to collect the receivable.

e. Investments and other fi nancial assets Investments and fi nancial assets in the scope of AASB 139

Financial Instruments: Recogniti on and Measurement are categorised as either fi nancial assets at fair value through profi t or loss, loans and receivables, held-to-maturity investments, or available-for-sale fi nancial assets. The classifi cati on depends on the purpose for which the investments were acquired. Designati on is re-evaluated at each reporti ng date, but there are restricti ons on reclassifying to other categories

When fi nancial assets are recognised initi ally, they are measured at fair value, plus, in the case of assets not at fair value through profi t or loss, directly att ributable transacti on costs.

Recogniti on and derecogniti on

All regular way purchases and sales of fi nancial assets are recognised on the trade date i.e., the date that the Company commits to purchase the asset. Regular way purchases or sales are purchases or sales of fi nancial assets under contracts that require delivery of the assets within the period established generally by regulati on or conventi on in the market place.

Financial assets are derecognised when the right to receive cash fl ows from the fi nancial assets have expired or when the enti ty transfers substanti ally all the risks and rewards, it derecognises the asset if it has transferred control of the assets.

Subsequent measurement


Financial assets are classifi ed as ‘fi nancial assets designated at fair value through profi t or loss’ as the group of fi nancial assets is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management strategy and informati on about the group is provided internally on that basis to the enti ty’s key management personnel. Gains or losses on fi nancial assets at fair value through profi t or loss are recognised in profi t or loss and the related assets are classifi ed as non-current assets in the statement of fi nancial positi on.

f. Property, plant and equipment Buildings, plant and equipment are stated at historical cost

less accumulated depreciati on and any impairment losses. Such cost includes the cost of replacing parts that are eligible for capitalisati on when the cost of replacing the parts is incurred. All other repairs and maintenance are recognised in the statement of comprehensive income as incurred.

Land is stated at historical cost less any impairment in value.

Property, plant and equipment acquired at no cost or for a Property, plant and equipment acquired at no cost or for a Property, plant and equipment acquired at no cost or for a Property, plant and equipment acquired at no cost or for a Property, plant and equipment acquired at no cost or for a nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of nominal amount, is recognised at fair value as at the date of acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, acquisiti on. Subsequent to initi al recogniti on, such property, plant and equipment is measured at cost, being the fair value plant and equipment is measured at cost, being the fair value plant and equipment is measured at cost, being the fair value at acquisiti on.

Depreciati on is calculated on a straight-line basis over the Depreciati on is calculated on a straight-line basis over the esti mated useful life of the specifi c assets as follows:esti mated useful life of the specifi c assets as follows:

Buildings – over 25 to 40 years

Computers – 3 to 4 years

Furniture and fi tti ngs – 4 to 5 years

Motor vehicles – over 5 years

Plant and equipment – 4 to 5 years

An item of property, plant and equipment and any signifi cant part initi ally recognised is derecognised upon disposal or when no future economic benefi ts are expected from its use or disposal. Any gain or loss arising on derecogniti on of the asset (calculated as the diff erence between the net disposal proceeds and the carrying amount of the asset) is included in the statement of comprehensive income when the asset is derecognised.

The residual values, useful lives and methods of depreciati on of property, plant and equipment are reviewed at each fi nancial year end and adjusted prospecti vely, if appropriate.

g. Leases The determinati on of whether an arrangement is or contains

a lease is based on the substance of the arrangement at incepti on date, whether fulfi lment of the arrangement is dependent on the use of a specifi c asset or assets or the arrangement conveys a right to use the asset, even if that right is not explicitly specifi ed in an arrangement.

Company as a lesseeOperati ng lease payments are recognised as an operati ng expense in the statement of comprehensive income on a straight-line basis over the lease term.

h. Impairment of non-fi nancial assets Non-fi nancial assets are tested for impairment whenever

events or changes in circumstances indicate that the carrying amount may not be recoverable.

The Company conducts an internal review of asset values, which is used as a source of informati on to assess for any indicators of impairment. External factors, such as changes in expected future processes, technology and economic conditi ons, are also monitored to assess for indicators of impairment. If any indicati on of impairment exists, an esti mate of the asset’s recoverable amount is calculated.

An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identi fi able cash infl ows that are largely independent of the cash infl ows from other assets or groups of assets (cash-generati ng units). Non-fi nancial assets that suff ered an impairment are tested for possible reversal of the


nOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntS

impairment whenever events or changes in circumstances indicate that the impairment may have reversed.

i. Trade and other payables Trade and other payables are carried at amorti sed cost and

due to their short-term nature they are not discounted. They represent liabiliti es for goods and services provided to the Company prior to the end of the fi nancial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days of recogniti on.

j. Provisions Provisions are recognised when the Company has a present

obligati on (legal or constructi ve) as a result of a past event, it is probable that an outf low of resources embodying economic benefi ts will be required to sett le the obligati on and a reliable esti mate can be made of the amount of the obligati on. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relati ng to a provision is presented in the statement of comprehensive income net of any reimbursement.

Wages, salaries and annual leave

Liabiliti es for wages and salaries, including non-monetary benefi ts and annual leave expected to be sett led within 12 months of the reporti ng date are recognised in respect of employees’ services up to the reporti ng date. They are measured at the amounts expected to be paid when the liabiliti es are sett led.

Long service leaveThe liability for long service leave is recognised and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporti ng date using the projected unit credit method. Considerati on is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future payments are discounted using market yields at the reporti ng date on nati onal government bonds with terms to maturity and currencies that match, as closely as possible, the esti mated future cash outf lows.

k. Revenue recogniti on Revenue is recognised and measured at the fair value of

the considerati on received or receivable to the extent it is probable that the economic benefi ts will fl ow to the Company and the revenue can be reliably measured. The following specifi c recogniti on criteria must also be met before revenue is recognised:

(i) Government grantsGovernment grants are recognised when there is reasonable assurance that the Company will comply with the conditi ons att aching to them, and that the grants will be received.

(ii) Donati ons and fundraising incomeDonati ons and fundraising income are recognised as

income when received and when the Company is enti tled income when received and when the Company is enti tled income when received and when the Company is enti tled income when received and when the Company is enti tled to receive the contributi on.

(iii) Donati ons-in-kindDonati ons-in-kind of assets or other services are recorded as revenue at the fair value to the Company where this can be quanti fi ed and a third party is bearing the cost. No amounts are included in the fi nancial statements for services provided by volunteers.

(vi) Interest revenue Revenue is recognised on a cash receipts basis.

(v) Dividends Revenue is recognised when the Company has received the dividend.

l. Income tax Youth Off The Streets Limited has approved status as an

income tax exempt charitable enti ty and therefore incurs no liability to pay income tax.

m. Other taxes Revenues, expenses and assets are recognised net of the

amount of GST except:

• when the GST incurred on a purchase of goods and services is not recoverable from the taxati on authority, in which case the GST is recognised as part of the cost of acquisiti on of the asset or as part of the expense item as applicable; and

• receivables and payables, which are stated with the amount of GST included.

n. Self-generati ng and regenerati ng assets Livestock assets are valued at cost at each

reporti ng date.

3. SigniFicant AccouNting JudgeMents, EstimAtes and AssumPtions

The preparati on of the Company’s fi nancial statements requires management to make judgements, esti mates and assumpti ons that aff ect the reported amounts of revenues, expenses, assets and liabiliti es, and the accompanying disclosures, and the disclosure of conti ngent liabiliti es. Uncertainty about these assumpti ons and esti mates could result in outcomes that require a material adjustment to the carrying amount of assets or liabiliti es aff ected in future periods.

Esti mates and assumpti ons The key assumpti ons concerning the future and other key sources of esti mati on uncertainty at the reporti ng date, that have a signifi cant risk of causing a material adjustment to the carrying amounts of assets and liabiliti es within the next fi nancial year, are described below. The Company based its assumpti ons and esti mates on parameters available when the fi nancial statements were prepared. Existi ng circumstances and assumpti ons about future developments, however, may change due to market changes or circumstances arising beyond the control of the Company. Such changes are refl ected in the assumpti ons when they occur.

1414




Impairment of non-fi nancial assets The Company assesses impairment of non-fi nancial assets at each reporti ng date by evaluati ng conditi ons specifi c to the Company and to the parti cular asset that may lead to impairment. These include technology, economic and politi cal environments and future expectati ons. If an impairment trigger exists the recoverable amount of the asset is determined. Management does not consider that the triggers for impairment testi ng have been signifi cant enough and as such these assets have not been tested for impairment in this fi nancial period.

Valuati on of donati ons-in-kind The esti mati on of donati ons-in-kind valuati on is based on discussions with the third party donor of the goods or services, or, where required, expert valuati on.

4. rEvEnuE And eXpeNseS

2013 2012

$ $

a. Finance revenue


Dividends 65,418 59,235

688,002 641,931

b. Other income

Fair value gains on investments 30,480 -

Net profi t on disposal of property, plant and equipment - 104,267

Other income 71,935 159,655

102,415 263,922

c. Employee benefi ts espense

Wages and salaries 11,113,882 10,461,209

Workers’ compensati on costs 684,372 570,493

Defi ned contributi on superannuati on expense 933,867 859,050

Total employee benefi ts expense 12,732,121 11,890,752

d. Depreciati on Expense

Depreciati on of non-current assets

Land and buildings 474,886 307,695

Computer equipment and soft ware 95,595 80,151

Furniture and fi tti ngs 56,773 101,711

Plant and equipment 33,736 35,688

Motor vehicles 234,040 106,362

Total depreciati on expense 895,030 631,607

e. Other expenses

Communicati on and general offi ce expenses 611,506 623,962

Residenti al expenses - food, housing, educati on 703,929 754,967

Premises outgoings 501,390 440,852


Adverti sing 378,645 463,421

Repairs and maintenance 617,696 527,889

Travel expense 299,290 307,497

Fair value losses on investments - 126,723

Net losses on disposal of property, plant and equipment 76,135 -

Minimum lease payments - operati ng lease 573,944 759,986

Other expenses 796,031 759,594

Total other expenses 4,783,538 4,968,878

5. Cash and Cash EquivAlents

Cash at bank earns interest at fl oati ng rates based on daily bank deposit rates. The carrying amounts of cash and cash equivalents represent fair value. Reconciliati on to the statement of cash fl ows

For the purposes of the statement of cash fl ows, cash and cash equivalents comprise of the above.

6. Other ReceiVables

7. Other Current Assets

8. InvesTmentS

9. Property, Plant and EquipMent

2013 2012

$ $

Cash at bank and in hand 3,196,413 5,548,925

3,196,413 5,548,925

2013 2012

$ $

Prepayments and other assets 245,970 240,894

Livestock 420 420

Term deposit 3,370,140 6,183,833

3,616,530 6,425,147

a. Physical quanti ty of livestock 2 2

Number of horses owned 2 2

2013 2012

$ $

Non-current


Investments 3,833,596 1,745,631

3,833,596 1,745,631

2013 2012

$ $

Land and buildings

At cost 19,581,094 17,262,372

Accumulated depreciati on (1,682,231) (1,251,710)

Net carrying amount 17,898,863 16,010,662

Computer equipment and soft ware

At cost 600,993 544,557

Accumulated depreciati on (388,403) (289,948)

Net carrying amount 212,590 254,609

Furniture and fi tti ngs

At cost 946,194 840,748



Plant and equipment

At cost 708,397 579,929



Motor vehicles

At cost 1,486,388 986,342



Total property, plant and equipment

At cost 23,323,066 20,213,948



2013 2012

$ $

Other debtors 39,123 50,426

GST receivable 12,047 44,807

51,170 95,233

b. Nature of asset

The above livestock was donated to Youth Off The Streets Limited. The livestock is used at the residenti al properti es for the enjoyment of the children in the care of Youth Off The Streets Limited.

141414


Impairment of non-fi nancial assets The Company assesses impairment of non-fi nancial assets at each reporti ng date by evaluati ng conditi ons specifi c to the Company and to the parti cular asset that may lead to impairment. These include technology, economic and politi cal environments and future expectati ons. If an impairment trigger exists the recoverable amount of the asset is determined. Management does not consider that the triggers for impairment testi ng have been signifi cant enough and as such these assets have not been tested for impairment in this fi nancial period.

Valuati on of donati ons-in-kind The esti mati on of donati ons-in-kind valuati on is based on discussions with the third party donor of the goods or services, or, where required, expert valuati on.

4. rEvEnuE And eXpeNseS4. rEvEnuE And eXpeNseS2013 2012

$ $

a. Finance revenue


Dividends 65,418 59,235

688,002 641,931

b. Other income

Fair value gains on investments 30,480 -

Net profi t on disposal of property, plant and equipment - 104,267

Other income 71,935 159,655

102,415 263,922

c. Employee benefi ts espense

Wages and salaries 11,113,882 10,461,209

Workers’ compensati on costs 684,372 570,493

Defi ned contributi on superannuati on expense 933,867 859,050

Total employee benefi ts expense 12,732,121 11,890,752

d. Depreciati on Expense

Depreciati on of non-current assets

Land and buildings 474,886 307,695

Computer equipment and soft ware 95,595 80,151

Furniture and fi tti ngs 56,773 101,711

Plant and equipment 33,736 35,688


Total depreciati on expense 895,030 631,607

e. Other expenses

Communicati on and general offi ce expenses 611,506 623,962

Residenti al expenses - food, housing, educati on 703,929 754,967

Premises outgoings 501,390 440,852


Adverti sing 378,645 463,421

Repairs and maintenance 617,696 527,889

Travel expense 299,290 307,497

Fair value losses on investments - 126,723

Net losses on disposal of property, plant and equipment 76,135 -

Minimum lease payments - operati ng lease 573,944 759,986

Other expenses 796,031 759,594

Total other expenses 4,783,538 4,968,878


nOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntS

5. Cash and Cash EquivAlents

Cash at bank earns interest at fl oati ng rates based on daily bank deposit rates. The carrying amounts of cash and cash equivalents represent fair value. Reconciliati on to the statement of cash fl ows

For the purposes of the statement of cash fl ows, cash and cash equivalents comprise of the above.

6. Other ReceiVables

7. Other Current Assets

8. InvesTmentS

9. Property, Plant and EquipMent

2013 2012

$ $

Cash at bank and in hand 3,196,413 5,548,925

3,196,413 5,548,925

2013 2012

$ $

Prepayments and other assets 245,970 240,894

Livestock 420 420

Term deposit 3,370,140 6,183,833

3,616,530 6,425,147

a. Physical quanti ty of livestock 2 2

Number of horses owned 2 2

2013 2012

$ $

Non-current


Investments 3,833,596 1,745,631

3,833,596 1,745,631

2013 2012

$ $

Land and buildings

At cost 19,581,094 17,262,372




At cost 600,993 544,557



Furniture and fi tti ngs

At cost 946,194 840,748



Plant and equipment

At cost 708,397 579,929



Motor vehicles

At cost 1,486,388 986,342




At cost 23,323,066 20,213,948



2013 2012

$ $

Other debtors 39,123 50,426

GST receivable 12,047 44,807

51,170 95,233

b. Nature of asset

The above livestock was donated to Youth Off The Streets Limited. The livestock is used at the residenti al properti es for the enjoyment of the children in the care of Youth Off The Streets Limited.

16 17youth off the streets 2013 17youth off the streets 2013


2013 2012

$ $

Reconciliati on of carrying amounts at the beginning and end of the year

Land and buildings

Balance at the beginning of the year

At cost 17,262,372 13,782,997



Additi ons 2,388,192 5,104,350

Disposals/other (25,105) (502,147)

Transfer to assets held for sale - (1,010,133)

Depreciati on charge for the year (474,886) (307,695)

Balance at the end of the year - Net carrying amount 17,898,863 16,010,662



At cost 544,557 404,222



Additi ons 54,746 144,200

Disposals/other (1,170) (365)


Balance at the end of the year - Net carrying amount 212,590 254,609

Furniture and Fitti ngs


At cost 840,748 596,385



Additi ons 97,410 269,065

Disposals/other - (4,065)

Transfer to assets held for sale - (411)



Plant and equipment


At cost 579,929 570,050



Additi ons 117,688 26,542

10. tRaDe AnD oThEr PaYabLeS2013 2012

$ $

Trade payables 328,657 850,087

Other payables 1,289,842 1,259,895

Annual leave accrued 649,771 564,099

2,268,270 2,674,081

a. Fair value Due to the short-term nature of these payables, their carrying

value is assumed to approximate their fair value.

11. ProViSioNS

Nature and ti ming of provisions Long service leave Refer to note 2 for the relevant accounti ng policy and a discussion of the signifi cant esti mati ons and assumpti ons applied in the measurement of this provision.

12. CommiTments and ContiNgenciesa. Commitments Operati ng lease commitments – Company as lessee

The Company has entered into commercial leases on certain motor vehicles and rental properti es. These leases have a term between 1 to 8 years with some leases having a renewal opti on included in the contracts. There are no restricti ons placed upon the lessee by entering into these leases.

Future minimum rentals payable under non-cancellable operati ng leases as at 30 June are as follows:

13. Related Party DisclOsures

Terms and conditi ons of transacti ons with related parti es

Outstanding balances at year-end are unsecured, interest free and sett lement occurs in cash.

Allowance for impairment loss on related party receivables

For the year end 30 June 2013, the Company has not made any allowance for impairment loss relati ng to amounts owed by related parti es as there has been a good payment history (2012: $nil). An impairment assessment is undertaken each fi nancial year by examining the fi nancial positi on of the related party and the market in which the related party operates to determine whether there is objecti ve evidence that a related party receivable is impaired. When such objecti ve evidence exists, the Company recognises an allowance for the impairment loss.

14. key ManagEment PersoNnela. Compensati on of key management personnel

b. Other transacti ons and balances with key management personnel and their related parti es

There were no other transacti ons and balances with key management personnel or their related parti es.

15. Events After Balance Date

There have been no signifi cant events occurring aft er balance date which may aff ect either the Company’s operati ons or results of those operati ons or the Company’s state of aff airs.

16. Economic DepenDency

Youth Off The Streets Limited is dependent upon funding in the form of government grants, corporate and individual donati ons and funds received through various fundraising events.

2013 2012

$ $

Current

Long service leave 134,661 93,334

134,661 93,334

Non-current


297,504 308,781

2013 2012

$ $

Within one year 337,059 384,515

Aft er one year but not more than fi ve 220,166 162,345

Total minimum lease payments 557,225 546,860

2013 2012

$ $

Total compensati on 300,793 302,822

Amounts owed from/ (to) related parti es

Related party $

Youth Off The Streets - Overseas Relief Fund Limited 2013 (50)

2012 (251)

Christopher Keith Riley, AM 2013 2,883

2012 5,222

b. Conti ngencies

No conti ngent liabiliti es exist as at the date of this fi nancial report (2012: none).

16

2013

$

Disposals/other - 11,198

Transfer to assets held for sale - (6,771)



Motor vehicles


At cost 986,342 338,977



Additi ons 502,730 673,573






Balance at the beginning ofthe year

At cost 20,213,948 15,692,631



Additi ons 3,160,766 6,217,730






2013 2012

$ $

Reconciliati on of carrying amounts at the beginning and end of the year

Land and buildings


At cost 17,262,372 13,782,997



Additi ons 2,388,192 5,104,350







At cost 544,557 404,222



Additi ons 54,746 144,200

Disposals/other (1,170) (365)



Furniture and Fitti ngs


At cost 840,748 596,385



Additi ons 97,410 269,065

Disposals/other - (4,065)

Transfer to assets held for sale - (411)



Plant and equipment


At cost 579,929 570,050



Additi ons 117,688 26,542

10. tRaDe AnD oThEr PaYabLeS2013 2012

$ $

Trade payables 328,657 850,087

Other payables 1,289,842 1,259,895

Annual leave accrued 649,771 564,099

2,268,270 2,674,081

a. Fair value Due to the short-term nature of these payables, their carrying

value is assumed to approximate their fair value.

161616

2013

$

Disposals/other - 11,198



Balance at the end of the year - Net carrying amountBalance at the end of the year - Net carrying amountBalance at the end of the year - 177,723 93,771

Motor vehicles


At cost 986,342 338,977



Additi ons 502,730 673,573






Balance at the beginning ofthe year

At cost 20,213,948 15,692,631



Additi ons 3,160,766 6,217,730





nOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntS


nOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntSnOtEs To thE fInAncIaL sTaTemEntS

11. ProViSioNS

Nature and ti ming of provisions Long service leave Refer to note 2 for the relevant accounti ng policy and a discussion of the signifi cant esti mati ons and assumpti ons applied in the measurement of this provision.

12. CommiTments and ContiNgenciesa. Commitments Operati ng lease commitments – Company as lessee

The Company has entered into commercial leases on certain motor vehicles and rental properti es. These leases have a term between 1 to 8 years with some leases having a renewal opti on included in the contracts. There are no restricti ons placed upon the lessee by entering into these leases.

Future minimum rentals payable under non-cancellable operati ng leases as at 30 June are as follows:

13. Related Party DisclOsures

Terms and conditi ons of transacti ons with related parti es

Outstanding balances at year-end are unsecured, interest free and sett lement occurs in cash.

Allowance for impairment loss on related party receivables

For the year end 30 June 2013, the Company has not made any allowance for impairment loss relati ng to amounts owed by related parti es as there has been a good payment history (2012: $nil). An impairment assessment is undertaken each fi nancial year by examining the fi nancial positi on of the related party and the market in which the related party operates to determine whether there is objecti ve evidence that a related party receivable is impaired. When such objecti ve evidence exists, the Company recognises an allowance for the impairment loss.

14. key ManagEment PersoNnela. Compensati on of key management personnel

b. Other transacti ons and balances with key management personnel and their related parti es

There were no other transacti ons and balances with key management personnel or their related parti es.

15. Events After Balance Date There have been no signifi cant events occurring aft er balance

date which may aff ect either the Company’s operati ons or results of those operati ons or the Company’s state of aff airs.

16. Economic DepenDency Youth Off The Streets Limited is dependent upon funding

in the form of government grants, corporate and individual donati ons and funds received through various fundraising events.

2013 2012

$ $

Current


134,661 93,334

Non-current


297,504 308,781

2013 2012

$ $

Within one year 337,059 384,515

Aft er one year but not more than fi ve 220,166 162,345

Total minimum lease payments 557,225 546,860

2013 2012

$ $

Total compensati on 300,793 302,822

Amounts owed from/ (to) related parti es

Related party $

Youth Off The Streets - Overseas Relief Fund Limited 2013 (50)

2012 (251)

Christopher Keith Riley, AM 2013 2,883

2012 5,222

b. Conti ngencies

No conti ngent liabiliti es exist as at the date of this fi nancial report (2012: none).


nOtEs To thE fInAncIaL sTaTemEntS dIrEctORs’ dEcLarAtIon

17. InforMation and DeclaRation to be FurniShed Under the ChariTable FundrAising act 1991

The Company is registered under the Charitable Fundraising Act to conduct fundraising acti viti es.

a. Details of aggregated gross income and totalexpenses of fundraising appeals

b. Statement showing how funds received were applied to charitable purposes.

Funds were used for the provision of services to youth aff ected by drugs, alcohol and homelessness. Our core services included aboriginal services, educati on, residenti al services and community development.

c. Fundraising appeals conducted during the fi nancial year

The following fundraising appeals were conducted: four Direct Mail appeals, the Macsim Sydney to Surfers Charity Bike Ride, the Annual Cooley Classic Golf Day, two Eden Garden morning teas and the Campelltown Catholic Club Golf Day.

d. Comparison by monetary fi gures and percentages

2013 2012

$

Net surplus from fundraising appeals 6,297,818 10,610,125


Expenses att ributable to provision of services (16,033,120) (15,173,913)

Finance revenue and other income 759,937 804,586

Net (losses)/gain on disposal of property, plant and equipment (76,135) 104,267

Fair value (losses)/gain on investments 30,480 (126,723)

(Defi cit)/surplus for the year (1,050,696) 4,955,730

2013 2012

$ $

Total cost of fundraising 2,301,434 2,190,601

Gross income from fundraising 8,599,252 12,800,726

% 27% 17%

Net surplus from fundraising 6,297,818 10,610,125


% 73% 83%

Total cost of services 16,033,120 15,173,913

Total expenditure 18,334,554 17,364,514

% 87% 87%


Total income received 17,359,993 22,446,967

% 92% 68%

dIrEctORs’ dEcLarAtIon In accordance with a resoluti on of the directors of Youth Off The Streets Limited, I state that:

In the opinion of the directors:

a. the fi nancial statements and notes of Youth Off TheStreets Limited for the year ended 30 June 2013 are in accordance with the Corporati ons Act 2001, including:

i. giving a true and fair view of its fi nancial positi on as at 30 June 2013 and of its performance for the year ended on that date; and

ii. complying with Australian Accounti ng Standards - Reduced Disclosure Requirements and the Corporati ons Regulati ons 2001;

b. there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable;

c. the statement of fi nancial positi on gives a true and fair view of the state of the aff airs of the Company with respect to fundraising appeals;

d. the provisions of the Charitable Fundraising Act 1991, the regulati ons under the Charitable Fundraising Act 1991 and the conditi ons att ached to the fundraising authority have been complied with by the Company; and

e. the internal controls exercised by the company are appropriate and eff ecti ve in accounti ng for all income received and applied by the Company from any of its fundraising appeals.

On behalf of the Board

Christopher Keith Riley, Director, Sydney, 16 October 2013

Richard John Gibbs, Director, Sydney, 16 October 2013

2013 2012

$ $

Gross proceeds from donati ons and fundraising appeals

Corporate 916,390 1,015,509

Individuals/benefactors 1,553,158 3,572,416

Bequests 936,265 2,215,079

Foundati ons and trust 802,169 1,044,656

Masses donati ons 13,543 28,542

Anonymous 15,621 11,118

Registered clubs 334,300 449,034

Appeals/Newslett ers 1,487,466 1,045,293

School fundraising 47,010 38,754

Funerals/weddings/birthdays 44,576 31,936

Other groups 121,178 107,386

Payroll giving 377,127 438,639

Gift s in kind 129,681 470,267

Net community online 163,151 373,514

Total revenue from donati ons 6,941,635 10,842,143

Op shop sales 763,786 887,206

Service learning kits 454 2,645

Event - Internal 137,249 169,320

Event - External 708,318 842,900

Merchandise 47,810 56,512

Total revenue from fundraising 1,657,617 1,958,583

Total revenue from donati ons and fundraising 8,599,252 12,800,726

Staffi ng expenses (1,051,981) (981,166)

Transport (14,687) (13,481)

Communicati on and offi ce expenses (177,613) (164,896)

Administrati on costs (81,772) (60,206)

Adverti sing and promoti on (315,002) (307,564)

Op shop costs (660,379) (663,288)

Total expenses (2,301,434) (2,190,601)

181818


17. InforMation and DeclaRation to be FurniShed Under the ChariTable FundrAising act 1991

The Company is registered under the Charitable Fundraising Act to conduct fundraising acti viti es.

a. Details of aggregated gross income and totalexpenses of fundraising appeals

b. Statement showing how funds received were applied to charitable purposes.

Funds were used for the provision of services to youth aff ected by drugs, alcohol and homelessness. Our core services included aboriginal services, educati on, residenti al services and community development.

c. Fundraising appeals conducted during the fi nancial year

The following fundraising appeals were conducted: four Direct Mail appeals, the Macsim Sydney to Surfers Charity Bike Ride, the Annual Cooley Classic Golf Day, two Eden Garden morning teas and the Campelltown Catholic Club Golf Day.

d. Comparison by monetary fi gures and percentages

2013 2012

$

Net surplus from fundraising appeals 6,297,818 10,610,125


Expenses att ributable to provision of services (16,033,120) (15,173,913)

Finance revenue and other income 759,937 804,586

Net (losses)/gain on disposal of property, plant and equipment (76,135) 104,267

Fair value (losses)/gain on investments 30,480 (126,723)

(Defi cit)/surplus for the year (1,050,696) 4,955,730

2013 2012

$ $

Total cost of fundraising 2,301,434 2,190,601


% 27% 17%

Net surplus from fundraising 6,297,818 10,610,125


% 73% 83%


Total expenditure 18,334,554 17,364,514

% 87% 87%


Total income received 17,359,993 22,446,967

% 92% 68%

2013 2012

$ $

Gross proceeds from donati ons and fundraising appeals

Corporate 916,390 1,015,509

Individuals/benefactors 1,553,158 3,572,416

Bequests 936,265 2,215,079

Foundati ons and trust 802,169 1,044,656

Masses donati ons 13,543 28,542

Anonymous 15,621 11,118

Registered clubs 334,300 449,034

Appeals/Newslett ers 1,487,466 1,045,293

School fundraising 47,010 38,754

Funerals/weddings/birthdays 44,576 31,936

Other groups 121,178 107,386

Payroll giving 377,127 438,639

Gift s in kind 129,681 470,267

Net community online 163,151 373,514

Total revenue from donati ons 6,941,635 10,842,143

Op shop sales 763,786 887,206

Service learning kits 454 2,645

Event - Internal 137,249 169,320

Event - External 708,318 842,900

Merchandise 47,810 56,512

Total revenue from fundraising 1,657,617 1,958,583

Total revenue from donati ons and fundraising 8,599,252 12,800,726

Staffi ng expenses (1,051,981) (981,166)

Transport (14,687) (13,481)

Communicati on and offi ce expenses (177,613) (164,896)

Administrati on costs (81,772) (60,206)

Adverti sing and promoti on (315,002) (307,564)

Op shop costs (660,379) (663,288)

Total expenses (2,301,434) (2,190,601)


dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon dIrEctORs’ dEcLarAtIon

dIrEctORs’ dEcLarAtIon In accordance with a resoluti on of the directors of Youth Off The Streets Limited, I state that:

In the opinion of the directors:

a. the fi nancial statements and notes of Youth Off TheStreets Limited for the year ended 30 June 2013 are in accordance with the Corporati ons Act 2001, including:

i. giving a true and fair view of its fi nancial positi on as at 30 June 2013 and of its performance for the year ended on that date; and

ii. complying with Australian Accounti ng Standards - Reduced Disclosure Requirements and the Corporati ons Regulati ons 2001;

b. there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable;

c. the statement of fi nancial positi on gives a true and fair view of the state of the aff airs of the Company with respect to fundraising appeals;

d. the provisions of the Charitable Fundraising Act 1991, the regulati ons under the Charitable Fundraising Act 1991 and the conditi ons att ached to the fundraising authority have been complied with by the Company; and

e. the internal controls exercised by the company are appropriate and eff ecti ve in accounti ng for all income received and applied by the Company from any of its fundraising appeals.

On behalf of the Board

Christopher Keith Riley, Director, Sydney, 16 October 2013

Richard John Gibbs, Director, Sydney, 16 October 2013

Youth Off The Streets 2013 Financial report

Documents

Transcript of Youth Off The Streets 2013 Financial report