Financial Statements 2020

Thames Youth Centre Incorporated Financial statements For the year ended 30 June 2020

Thames Youth Centre Incorporated 1 2 Contents 3 5 Company directory 6 Compilation report 7 Statement of profit or loss 10 Statement of changes in equity 11 Balance sheet Notes to the financial statements Taxation schedule of property, plant and equipment Approval of financial report

Thames Youth Centre Incorporated Company directory As at 30 June 2020 Nature of business: Not for Profit - Youth Centre Operations IRD number: 018-701-774 Accountants: Howlett Dalzell Accountancy Services Ltd Page 1

Thames Youth Centre Incorporated Compilation report For the year ended 30 June 2020 Compilation report for the director of Thames Youth Centre Incorporated. Scope On the basis of information you provided, we have compiled, in accordance with Service Engagement Standard No.2: Compilation of Financial Information, the financial statements of Thames Youth Centre Incorporated for the period ended 30 June 2020. As described in Note 1 to the financial statements, these financial statements are a special purpose report, for internal management and taxation purposes only. Responsibilities You are solely responsible for the information contained in the financial statements and have determined that the accounting policies used is appropriate to meet your needs and for the purpose that the financial statements were prepared. No audit or review engagement undertaken Our procedures use accounting expertise to undertake the compilation of the financial statements from information you provided. A compilation is limited primarily to the collection, classification and summarisation of financial information. Our procedures do not include verification or validation procedures of the information. No audit or review engagement has been performed and accordingly no assurance is expressed. Disclaimer As mentioned earlier in our report, we have compiled the financial information based on information provided to us which has not been subject to an audit or review engagement. Accordingly, neither we, nor any of our employees accept any responsibility for the reliability, accuracy or completeness of the compiled financial information nor do we accept any liability of any kind whatsoever, including liability by reason of negligence, to any person for losses incurred as a result of placing reliance on the compiled financial information. Signed ________________________________________________ Frieda Howlett Firm Howlett Dalzell Accountancy Services Ltd Address Date 18 September 2020 Page 2

Thames Youth Centre Incorporated Statement of profit or loss 2020 2019 $ $ For the year ended 30 June 2020 1,172 - Income 3,039 2,086 Wage Subsidy Recieved - Covid19 30,000 42,933 Grants - COGS 2,846 Grants - Lotteries - Grants - TCDC 5,000 - Donations - Waikato Community Trust 924 Hall Hire 578 Sundry Income - Donations - 17 Less: Cost of sales 39,789 48,806 Programme Expenses - After School 185 2,023 Programme Expenses - Holiday 352 183 - Programme Expenses - Youth Pride 98 Gross profit from trading 636 2,207 Gross profit % 39,153 46,600 98% 95% Other income 23 46 Interest Received Total income 39,176 46,645 Expenses 405 210 ACC Levy 1,250 1,200 Accountancy Fees Administration Fees 44 44 Advertising 124 436 Bank Charges 130 111 Cleaning 193 826 Computer Expenses 113 496 Depreciation 480 392 General Expenses 139 325 Insurance 1,398 1,402 Light, Heat & Power 1,064 1,008 Postage 161 Printing & Stationery - 555 Rates 76 2,043 Repairs & Maintenance - Building 2,246 802 Repairs & Maintenance - Plant 388 Security Costs 7 Staff Expenses - 1,358 Staff Training & Welfare 113 Subscriptions/Membership Fees - Telephone & Internet 84 510 Travelling Expenses - 486 1,945 165 2,478 22 35 The accompanying policies and notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 3

Thames Youth Centre Incorporated Statement of profit or loss 2020 2019 $ $ For the year ended 30 June 2020 45,936 49,976 Wages 56,859 64,316 Total expenses (17,670) Net profit (loss) (17,683) The accompanying policies and notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 4

Thames Youth Centre Incorporated Statement of changes in equity 2020 2019 $ $ For the year ended 30 June 2020 90,030 72,360 (17,670) Equity as at 01 July 2019 72,360 Net profit (loss) for the period (17,683) 72,360 54,677 Closing balance as at 30 June 2020 54,677 The accompanying policies and notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 5

Thames Youth Centre Incorporated Balance sheet As at 30 June 2020 Current assets Note 2020 2019 ANZ - Operating Account 2 $ $ ANZ - Wages Account ANZ - Saver Account 2,333 8,952 ANZ - Petty Cash Account 3,373 5,991 16,845 26,065 Total current assets 107 182 Non-current assets 22,657 41,190 Property, plant and equipment 52,930 52,677 Total assets 75,587 93,867 Current liabilities 1,141 1,388 Accounts payable (230) 119 GST payable 20,000 Grants Received in Advance - Lotteries Board 20,910 20,000 20,910 21,507 Total current liabilities 21,507 54,677 Total liabilities 72,360 54,677 Net assets 72,360 54,677 Equity 72,360 Retained earnings Total equity The accompanying policies and notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 6

Thames Youth Centre Incorporated Notes to the financial statements For the year ended 30 June 2020 1 Statement of accounting policies These are the financial statements of Thames Youth Centre Incorporated, Thames Youth Centre Incorporated is incorporated in New Zealand registered under the Companies Act 1993. Thames Youth Centre Incorporated is engaged in the business of Not for Profit - Youth Centre Operations. The special purpose financial report was authorised for issue in accordance with a resolution of directors dated . These financial statements have been prepared in accordance with A Special Purpose Framework for use by For-Profit Entities (SPFR for FPEs) published by Chartered Accountants of Australia and New Zealand. These financial statements have been prepared on a historical cost basis, except when otherwise indicated. The information is presented in New Zealand dollars. Changes in accounting policies There have been no changes in accounting policies and they have been applied on a consistent basis with those used in previous years. Income and other income Donations Donations received are included in operating revenue. If particular conditions are attached to a donation that would require it to be repaid if these conditions are not met, then the donation is recorded as a liability until the conditions are satisfied. Donated goods or services (other than donated assets) are not recognised. Where significant donated assets are received with useful lives of 12 months or more, and the fair value of the asset is readily obtainable, the donation is recorded at the value of the asset obtained. Where the fair value of the asset is not readily obtainable, the donation is not recorded. Donated assets with useful lives less than 12 months are not recorded. Fundraising and Grants Fundraising and grant income is accounted for depending on whether or not it has a \"use or return\" condition attached. Where no use or return conditions are attached, the revenue is recorded as income when the cash is received. Where income includes a use or return condition, it is initially recorded as a liability on receipt. The income is then subsequently recognised within the Statement of Financial Performance as the performance conditions are met. Interest income Interest income is recognised using the effective interest method, which for floating rate financial assets is the rate inherent in the instrument. Going concern These financial statements have been prepared on the basis that the company is a going concern and has the continuing support of its shareholders. Based on the continuing financial support of its shareholders, the company would satisfy the solvency requirements of the Companies Act 1993. Cash and cash equivalents These notes should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 7

Thames Youth Centre Incorporated Notes to the financial statements For the year ended 30 June 2020 Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet. Trade and other receivables Receivables are stated at their estimated realisable value. Bad debts are written off in the year in which they are identified. Property, plant and equipment All property, plant and equipment, except for land and buildings are stated at cost less accumulated depreciation. Freehold land and buildings are shown at cost. Leasehold improvements and office equipment are carried at cost less, where applicable, any accumulated depreciation. The depreciable amount of all plant and equipment is depreciated over the asset's useful life of the assets to the company commencing from the time the asset is held ready for use. Depreciation has been calculated in accordance with rates permitted under the Income Tax Act 2007. Trade and other payables Trade payables represent the liabilities for goods and services received by the company that remain unpaid at the end of the reporting period. Trade payables are recognised at their transaction price. They are subject to normal credit terms and do not bear interest. Goods and services tax Thames Youth Centre Incorporated is registered for GST. All amounts are stated exclusive of GST with the exception of receivables and payables, which are stated inclusive of GST. Income tax Thames Youth Centre Inc. is wholly exempt from New Zealand income tax having fully complied with all statutory conditions for these exemptions. These notes should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 8

Thames Youth Centre Incorporated Notes to the financial statements Note 2020 2019 $ $ For the year ended 30 June 2020 28,140 28,140 2 Property, plant and equipment 28,140 Land Cost 24,321 (2,969) Buildings 28,140 21,352 Cost 24,321 9,159 Less: Accumulated Depreciation (2,987) (5,974) 3,185 Plant and equipment 21,334 52,677 Cost 9,892 90,030 Less: Accumulated Depreciation (6,436) (17,670) 3,456 72,360 Total property, plant and equipment 52,930 3 Equity 72,360 Opening balance (17,683) Net profit (loss) for the period Closing balance as at 30 June 2020 54,677 4 Capital commitments There were no capital commitments during the year under review. These notes should be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. Page 9

Thames Youth Centre Incorporated Taxation schedule of property, plant and equipmen For the year ended 30 June 2020 Asset Private Original Opening Addit Description Use% Cost W.D.V (Dispos Buildings - at Cost - 23,958 21,197 Building - 363 155 Wall on Mezzanine Floor 24,321 21,352 Plant & Equipment - at Cost - 31 10 Pool Tables (2) Table Tennis Table etc - 15 5 Hand Tools Books - 300 300 Art & Craft Materials Doors - 300 300 Trestles Water Heater - 150 150 PA System Electronic Drums - 147 47 Short Rise Lift Mirror for Dance Class - 53 22 Computer Refrigeratror - 59 14 - 449 66 - 316 26 - 3,366 1,661 - 870 492 - 3,085 92 - 733 - 9,874 3,185 Grand Total 34,195 24,537 The accompanying policies and notes form part of these financial statements. These statements shoul Pa

nt tions Profit Capital Months Dep. YTD Accum Closing sals) (Loss) Gain Rate% Depn Depn W.D.V - - - 12 0.00 DV - 2,761 21,197 - - - 12 11.40 DV 18 226 137 - - 18 - 2,987 21,334 - - 2 - - - 12 15.00 DV 1 23 8 - - - 12 15.00 DV - 11 4 - - - 12 - 300 - - - 12 0.00 DV - - 300 - - - 12 0.00 DV 7 - 150 - - - 12 0.00 DV 3 - 40 - - - 12 15.00 DV 3 107 19 - - - 12 12.00 DV 16 34 11 - - - 12 18.00 DV 8 48 50 - - - 12 24.00 DV 159 399 18 - - - 12 30.00 DV 49 298 1,502 - - - 12 9.60 DV 46 1,864 443 733 - - 12 10.00 DV 168 427 46 733 - - 11 50.00 DV 462 3,039 565 25.00 DV 168 733 - - 480 3,456 6,418 - 9,405 24,790 ld be read in conjunction with the attached compilation report of Howlett Dalzell Accountancy Services Ltd. age 10

Thames Youth Centre Incorporated Approval of financial report For the year ended 30 June 2020 The director is pleased to present the approved financial report including the historical financial statements of Thames Youth Centre Incorporated for the year ended 30 June 2020. APPROVED For and on behalf of the director Page 11