2014 Annual Report

MAY 2015AGM 2015 Notification of meeting Agenda Financial statements for the year ending 31 December 2014Nine LivesCat Protection Society of Victoria

My name is Chardy, please adopt me. Female. 8 years old. ID# 576 Chardy takes the world in her stride, nothing and I mean nothing stresses her. She loves a cuddle and a tummy rub; any attention is welcomed attention. But she is also very happy to curl up under her blanket and mind her own business. Chardy would love any home, but one with a comfy lap and warm heater would be her heaven. NOTIFICATION OF ANNUAL GENERAL MEETING Notice is hereby given that the 2015 Annual General Meeting of the Cat Protection Society of Victoria will be held on Wednesday the 27th of May 2015, commencing at 7.30 pm at the Glen Eira Town Hall, Caulfield Cup Room, 420 Glen Eira Rd, Caulfield North 3161. Proxy forms are to be received at the Registered Office of the Society, 200 Elder St, Greensborough, 3088 (PO Box 257, Greensborough, 3088) no later than 5pm on Friday 22nd May, 2015. Please send to: Mr Ian Crook, CEO, PO Box 257, Greensborough 3088 FORM OF PROXY ISSUED BY THE CAT PROTECTION SOCIETY OF VICTORIA I of being a member of the above Society do hereby appoint of who is a paid up member of the CPS as my proxy to vote on my behalf at the Annual General Meeting of the Society to be held on Wednesday the 27th May, 2015 and at any adjournment thereof. The proxy is hereby authorised to vote *in favour of/*against the following resolutions: Dated   Signature of Member Note: In the event of the member desiring to vote for or against any resolution they must instruct their proxy accordingly. Unless otherwise instructed, the proxy may vote as they think fit. *strike out whichever is not desired2

CAT PROTECTION SOCIETY OF VICTORIA2015 ANNUAL GENERAL MEETING AGENDAAnnual General Meeting of the Cat Protection Society to be held at 7.30pm on Wednesday 27th May, 2015 at the Glen EiraTown Hall, Caulfield Cup Room, 420 Glen Eira Rd, Caulfield North 3161.1. PRESENT2. APOLOGIES3. MINUTES OF THE PREVIOUS ANNUAL GENERAL MEETING – 28 May 20144. PRESIDENT’S REPORT5. HOSTEL AND VETERINARY REPORT6. ANNUAL BALANCE SHEET & ACCOUNTS FOR CONSIDERATION & ADOPTION7. ELECTION OF DIRECTORS (a) Mrs Helen Attwater and Ms Lisa Roberton retire in accordance with Clause 15.3.1 and, being eligible, offer for re-election (b) Mrs Susan Pacey and Ms Susan Jane retire in accordance with Clause 15.3.2 and, being eligible, offer for re-election (c) Election of Directors8. SPECIAL BUSINESS9. APPOINTMENT OF AUDITORS Crowe Horwath as the Society’s auditors for the 2015 financial year.Please RSVP to the Hostel – PO Box 257, Greensborough or email: [email protected] – to adviseattendance by 4 pm Monday 25th May 2015 3

Meet some of the teamLisa Ian Peter SharonPresident Acting CEO Senior Vet Shelter Supervisor Amanda Anna Regan Media Officer Vet Nurse Animal Attendant Alison Kylie Audrey Membership Animal Attendant Animal Attendant My name is Genie, please adopt me. Female. 9 years. ID# 9256 Genie is a beautiful cat who is lapping up the good life; she’s entering middle age with grace and style. She definitely knows what she wants in life, and small children do not enter into her plans. She needs a mature owner who will let her do her own thing, and who will enjoy time spent with her just chilling out.4

2014 The Transition Continues1. IntroductionAs your Acting CEO welcome to this year’s AGM and the Annual Report for Financial year 2014.As you know I commenced this role in early January 2014. Since then I have come to learn about and understand thesignificant contribution The Society makes to the care of felines in the community.The highlight of 2014 was the receipt of verbal notice on Christmas Eve that Banyule Council had decided to grant CPSplanning approval for the redevelopment of our site for our new shelter and clinic. This was the culmination of a protractedperiod of negotiation with Council and our ability to satisfactorily resolve objections to our proposal by several neighbours.My report will update you on the continuous change and progress that has occurred throughout 2014 to maintain theexisting facility and the high standards of animal care.2. Our Vision and MissionThe Staff at CPS have continued to uphold the CPS Vision of a community in which all cats are valued and respected ascompanion animals and have a high standard of welfare and wellbeing. The Staff actively promote, protect and improve thewelfare and wellbeing of cats in Victoria. The strategic objectives of CPS detailed in the 2013 Report remain unchangedthough the emphasis remains on maintaining an organisation providing high standards of care.3. Shelter StatisticsOverall in 2014 adoptions and releases were slightly higher than 2013. Just over 1000 cats and kittens were received bythe shelter. Of those assessed suitable for adoption 96% went to new homes. The kitten season was extended by anun-seasonally warm autumn.4. StaffStaff turnover during the year has been low. Two permanent members of staff resigned to pursue other opportunities, andexperienced previous staff have continued to return to work at CPS.Alison Thomson was appointed as a full time staff member responsible for membership administration and communication,donations, the volunteer programme and promotion. The updated CPS website and publicity in local papers has led directlyto an increase in adoptions.Sharon Smith was appointed as Shelter Supervisor responsible for the day to day running of the shelter. This has freed timeup for our Senior Vet Dr Peter Dorsett to continue to provide the high clinical care for felines they receive and in additionallocate more time to staff training, procedural documentation and detailed planning of the new shelter and clinic. Dr Dorsettwas also able to take extended leave during the year to get married.The performance of staff continues to be assessed by annual performance reviews. CPS policies have been updated andpolicies written in regard to the use of social media and public holiday rostering.Staff involvement in determining appropriate work place behaviour and values was initiated in 2014. This involvement willcontinue in 2015.Staff classification was reviewed during the year and pay rates were adjusted in line with the relevant awards.Wages and salaries are the single biggest variable expense. These are closely monitored. Please refer to the chart belowwhich shows hours worked and wages and salaries paid on a fortnightly basis throughout 2014.We continue to be supported by a great team of volunteer staff that assist at busy times, particularly the weekends. We alsohave regular volunteers that carry out site maintenance. 5

2014 The Transition Continues1200 Hours worked and wages $30,0001000 per fortnight Feb–Dec 14 $25,000 $20,000 800 NORMAL O/T SUN/PH WAGES $15,000 600HOURS $10,000 400 $$5,000 200 $0 0210020220202112022110115927144618893066062267340SAASAJJFFDDNNMMMMMOOAAJJeeeeuuuuueeooaaaaaccpupuccgtgvgvtplpllnyyylnrrbb 5. Administration Throughout 2014 significant resource continued to be allocated to ensure proper financial management and control. This resulted in the Board receiving timely and accurate financial reports, and the completion of a satisfactory audit. New auditors have been recommended for 2015. Term deposits were managed to ensure CPS received competitive rates of interest. The financial performance of CPS in 2014 exceeded expectations. In anticipation of the expense that will be incurred with the new shelter/clinic, a review is required in regard to optimising CPS’s investment strategy. New Shelter The planning permit granted by Banyule Council in late December was generally in line with CPS requirements. No restrictions were placed on the operation of the shelter. Two veterinarians were approved for clinical consultation. Clinic hours will be in line with the existing shelter hours. There were a number of conditions prescribed by Council associated with the granting of the permit, none of which are considered unreasonable. They pertain to landscaping, lighting, parking and appearance. It is proposed to make a detailed presentation on the new shelter/clinic at the AGM to brief you further on what is proposed. It is also proposed to place drawings and detail in regard to the new shelter and clinic on the CPS website. 6. Conclusion The challenges of continuing change and transition remain. However the Board and staff are confident that we can successfully transition to our new building during 2016 and early 2017. I would like to thank the staff and The Board for their continuing invaluable effort and support.6

My name isPrincess, pleaseadopt me.Female. 8 years.ID# 597Princess, as her name suggests, can bea bit of a princess! She will need to ruleyour roost, and she is not shy about tellingyou what she wants and how she wants itdone. Never a dull moment with Princessaround, that’s for sure! 7

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CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628FINANCIAL REPORTFOR THE YEAR ENDED 31 DECEMBER 2014CONTENTS 10 – 13 14DIRECTORS’ REPORT 15AUDITOR’S INDEPENDENCE DECLARATION 16STATEMENT OF COMPREHENSIVE INCOME 17STATEMENT OF FINANCIAL POSITION 18STATEMENT OF CHANGES IN EQUITYSTATEMENT OF CASH FLOWS 19 – 26NOTES TO THE FINANCIAL STATEMENTS 27DIRECTORS’ DECLARATIONINDEPENDENT AUDITOR’S REPORT 28 – 29 9

CAT PROTECTION SOCIETY OF VICTORIA LTD ABN: 35 390 087 628 DIRECTORS’ REPORT Your directors present this report on the company for the year ended 31 December 2014. Directors The names of each person who has been a director during the year and to the date of this report are: Mrs Del McCormack (appointed 18 February 2014) Ms Susan Elizabeth Jane Ms Arlis Marcella Kempf Mrs Rivka Waxman Dr Carole Webb (resigned 9 January 2014) Mr David Pacey Mrs Sue Pacey Ms Susan Haslam (resigned 24 February 2014) Ms Jennifer Giles (resigned 15 July 2014) Mrs H Attwater (appointed 15 July 2014) Ms Lisa Roberton (appointed 17 February 2015) Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Principal activities The principal activities of the company were the promotion and improvement of the welfare and well being of cats and all allied activities. Objectives The company’s objectives are: • To promote responsible cat ownership, and to provide community education and information about cats, their value and benefits as a companion animal and their needs • T o provide best practice facilities and services for the care of homeless cats • To find suitable homes for un-owned, surrendered and stray cats wherever possible • To humanely euthanase cats which are not suitable for re-homing, for which no suitable home can be found, or where euthanasia is medically required • T o provide sustainable low-cost veterinary services for the treatment of owned cats from low-income households in the local community • To address cat overpopulation by promoting and supporting the de-sexing of all cats, other than those specifically used for breeding by a registered cat breeding business • To promote and advocate for national, State and local government measures for the improvement of cat welfare • T o work cooperatively with other organisations that share similar philosophies to Cat Protection Society of Victoria10

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628DIRECTORS’ REPORTInformation on directorsMrs Del McCormack – Director, Junior Vice PresidentQualifications and experience – Retired nurse. Board member from 27 July 2001 to 31 December 2012 then fromSpecial responsibilities 18 February 2014Ms Susan Elizabeth Jane – Mrs McCormack is a member of the Marketing Committee and Strategy and Policy CommitteeQualifications and experienceSpecial responsibilities – Director – Executive secretary. Board member since 19 February 1990Ms Arlis Marcella Kempf – Ms Jane is honorary secretary and a member of the Marketing Committee, Strategy and PolicyQualifications and experienceSpecial responsibilities Committee and Finance and Management CommitteeMrs Rivka WaxmanQualifications and experience – DirectorSpecial responsibilities – Bio-chemist. Board member since 11 October 1993Dr Carole Webb – Ms Kempf is a member of the Strategy and Policy CommitteeQualifications and experience – DirectorSpecial responsibilities – Retired pharmacist. Board member from 1982–1997 then from 27 July 2001 – Mrs Waxman is a member of the Marketing Committee and Strategy and Policy CommitteeMr David PaceyQualifications and experience – Executive Director – Bachelor of Veterinary Science (Hons) MACVSc (Feline Medicine). Board member sinceSpecial responsibilitiesMrs Sue Pacey April 1997, resigned 9 January 2014)Qualifications and experience – Dr Webb was company secretary and a member of the Marketing Committee, Strategy andSpecial responsibilities Policy Committee and Finance and Management CommitteeMs Susan HaslamQualifications and experience – Director – Bachelor of Arts; Member of the Institute of Chartered Accountants. Board member sinceSpecial responsibilitiesMs Jennifer Giles 26 June 2009Qualifications and experience – Mr Pacey is the Secretary, Treasurer and a member of the Finance and Management CommitteeSpecial responsibilities – Director, Senior Vice PresidentMrs H Attwater – Podiatrist, Thermographer and Business owner. Board member from 26 June 2009 to 15 MayQualifications and experience 2012 then from 1 January 2013Special responsibilities – Mrs Pacey is a member of the Finance and Management CommitteeMs L RobertonQualifications and experience – Director, President from July 2012 – Bachelor of Laws, University of Melbourne. Board member since 30 June 2010, resignedSpecial responsibilities 24 February 2014 – Ms Haslam was a member of the Strategy and Policy Committee – Director, Junior Vice President to 15 July 2014 – Bachelor of Arts A, Dip. Hum. LL.B. (Hons) Barrister and Solicitor of the Supreme Court of Victoria. Board member since 30 June 2010, resigned 15 July 2014 – Ms Giles was a member of the Strategy and Policy Committee – B.A., Dip.Ed., B.Ed., Ph.D, Adjunct Professor Deakin University and RMIT University. Consulting Psychologist in private practice. – None – Director, President from 17 March 2015 – MMktg, Dip.CD. Marketing Executive pharmaceutical industry, experienced in all aspects of commercial operations. – None 11

CAT PROTECTION SOCIETY OF VICTORIA LTD ABN: 35 390 087 628 DIRECTORS’ REPORT Meetings of directors During the financial year, 11 meetings of directors were held. Attendances by each director during the year were as follows: DIRECTORS’ MEETINGS Number Number eligible to attended attend Mrs Del McCormack 10 8 Ms Susan Elizabeth Jane Ms Arlis Marcella Kempf 11 9 Mrs Rivka Waxman Dr Carole Webb 11 8 Mr David Pacey Mrs Sue Pacey 11 10 Ms Susan Haslam Ms Jennifer Giles –– Mrs H Attwater Ms L Roberton 11 11 11 11 11 77 66 –– Members’ liability The company is incorporated under the Corporations Act 2001 and is a company limited by guarantee. If the company is wound up, the company’s Memorandum of Association states that each member, excluding honorary members, is required to contribute a maximum of ₤2 each towards meeting any outstanding obligations of the company. At 31 December 2014 the company had 542 members of which 151 were honorary. The collective liability of the members was therefore ₤782 (2013: ₤930). Directors’ benefits No director has received or become entitled to receive, during or since the financial year, a benefit because of a contract made by the company or a related corporation with a director or with a firm of which a director is a member or an entity in which a director has a substantial financial interest. This statement excludes a benefit included in the aggregate amount of emoluments received or due and receivable by directors and shown in the company’s accounts, or the fixed salary of a full-time employee of the company.12

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628DIRECTORS’ REPORTAuditor’s independence declarationThe auditor’s independence declaration for the year ended 31 December 2014 has been received and can be found onpage 6 of the financial report.The directors’ report is signed in accordance with a resolution of the Board of Directors.Director:Director:Dated this 9th day of April 2015 13

CAT PROTECTION SOCIETY OF VICTORIA LTD ABN: 35 390 087 628 McLean Delmo Bentleys Audit Pty Ltd Level 3, 302 Burwood Rd MHacwLtehaonrnDVeilcm3o12B2entleys PAOudBitoPxt5y8L2td HLeavwetlh3o,r3n0V2icB3u1rw22ood Rd AHBawNth5o4r1n1V3ic6351525284 TPO+6B1o3x 5980218 4666 HF a+w61th3or9n0V1ic8 34172929 [email protected] Tm+cl6e1an3d9e0lm1o8b4e6n6tl6eys.com.au F +61 3 9018 4799 [email protected] mcleandelmobentleys.com.au AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF CAT PROTECTION SOCIETY OF VICTORIA LTD I declare that, to the best of my knowledge and belief, during the year ended 31 December 2014 there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and (ii) no contraventions of any applicable code of professional conduct in relation to the audit. McLean Delmo Bentleys Audit Pty Ltd James Ridley Partner Signed in Hawthorn this 9th day of April 2015 Accountants Auditors Advisors Accountants Auditors Advisors14

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 2014 Note 2014 2013 $ $Revenue 2 87,482 83,078Operating income 3 (191,848) (245,465)Less direct operating expenses (104,366) (162,387)Other income 4 5 1,934,573 1,284,668Expenses 6Employee benefits expense (664,656) (494,755)Advertising expenses 12 (3,822) (56,077)Other operating expenses (129,758) (121,206)Total expenses (680,590) (789,684)Surplus for the year 441,691 1,040,523Other comprehensive income – 610,000Items that will not be reclassified subsequently to profit or loss:Gain on revaluation of properties (44,889) 118,112 (44,889) (30,258)Items that may be reclassified subsequently to profit or loss: 995,634 697,854Fair value gains on available-for-sale financial assets 1,139,545Reclassification of fair value gains on available-for-sale financial assets to profitor lossTotal other comprehensive incomeTotal comprehensive income for the yearThe accompanying notes form part of these financial statements. 15

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628STATEMENT OF FINANCIAL POSITIONAS AT 31 DECEMBER 2014 Note 2014 2013 $ $Current assets 7 327,688 7,528,694Cash and cash equivalents 8 644,560 45,398Trade and other receivables 9 8,404,033Other financial assets 10 1,176,334Inventories 16,684 12,794Total current assets 9,392,965 8,763,220Non‑current assets 11 1,620,894 1,659,457Available-for-sale financial assets 12 2,240,139 2,214,508Property, plant and equipment 3,861,033 3,873,965Total non‑current assets 13,253,998 12,637,185Total assetsCurrent liabilities 13 21,313 166,156Trade and other payables 14 86,487 320,465Provisions 107,800 486,621Total current liabilities 107,800 486,621Total liabilities 13,146,198 12,150,564Net assetsEquity 16 2,095,087 2,139,976Reserves 11,051,111 10,010,588Accumulated surplus 13,146,198 12,150,564Total equity The accompanying notes form part of these financial statements.16

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628STATEMENT OF CHANGES IN EQUITYFOR THE YEAR ENDED 31 DECEMBER 2014 Asset Financial Accumulated Total revaluation assets surplus $ reserve $ reserve $ $Balance at 31 December 2012 1,263,825 178,297 9,568,897 11,011,019Net surplus for the year – – 441,691 441,691Other comprehensive income for the year 610,000 87,854 – 697,854Balance at 31 December 2013 1,873,825 266,151 10,010,588 12,150,564 – – 1,040,523 1,040,523Net surplus for the yearOther comprehensive income for the year – (44,889) – (44,889)Balance at 31 December 2014 1,873,825 221,262 11,051,111 13,146,198The accompanying notes form part of these financial statements. 17

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628STATEMENT OF CASH FLOWS Note 2014 2013 $ $FOR THE YEAR ENDED 31 DECEMBER 2014 87,482 120,530Cash flows from operating activities 329,979 395,069Receipts from customers 978,432 873,493Interest and dividends received (1,325,042) (841,801)Legacies and donations receivedPayments to suppliers and employees 70,851 547,291Net cash provided by operating activities (37,832) (41,404) (7,234,025) (375,846)Cash flows from investing activitiesPayment for property, plant and equipment (7,271,857) (417,250)Net payments for investments (7,201,006) 130,041Net cash used in investing activities 7,528,694 7,398,653Net (decrease)/increase in cash held 7 327,688 7,528,694Cash and cash equivalents at the beginning of the financial yearCash and cash equivalents at the end of the financial year The accompanying notes form part of these financial statements.18

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2014 Accounting policiesNote 1: Summary of significant accounting policies (a) Revenue and other incomeBasis of preparation Revenue is measured at the fair value of the consideration received or receivable after takingCat Protection Society of Victoria Ltd has elected to into account any trade discounts and volumeearly adopt the Australian Accounting Standards – rebates allowed.Reduced Disclosure Requirements as set out in AASB1053: Application of Tiers of Australian Accounting Revenue from the rendering of a service is recognisedStandards and AASB 2010–2: Amendments to upon the delivery of the service to the customers.Australian Accounting Standards arising from ReducedDisclosure Requirements. Interest revenue is recognised using the effective interest rate method, which for floating rate financialThe financial statements are general purpose financial assets is the rate inherent in the instrument. Dividendstatements that have been prepared in accordance with revenue is recognised when the right to receive aAustralian Accounting Standards – Reduced Disclosure dividend has been established.Requirements of the Australian Accounting StandardsBoard (AASB) and the Corporations Act 2001. The Donated animal supplies are brought to accountcompany is a not-for-profit entity for financial reporting when received at replacement cost.purposes under Australian Accounting Standards. Donations and legacies are recognised as revenueAustralian Accounting Standards set out accounting when received.policies that the AASB has concluded would result in afinancial report containing relevant and reliable information All revenue is stated net of the amount of goods andabout transactions, events and conditions. Material services tax.accounting policies adopted in the preparation of thesefinancial statements are presented below and have been (b) Cash and cash equivalentsconsistently applied unless stated otherwise. Cash and cash equivalents include cash onThe financial statements, except for the cash flow hand, deposits held at call with banks or financialinformation, have been prepared on an accruals basis and institutions, other short-term highly liquid investmentsare based on historical costs, modified, where applicable, with original maturities of three months or less.by the measurement at fair value of selected non-currentassets, financial assets and financial liabilities. The (c) Inventoriesamounts presented in the financial statements have beenrounded to the nearest dollar. Inventories are measured at the lower of cost and net realisable value, with the exception of donated animalThe financial statements were authorised for issue on 9 supplies, which are valued at replacement cost.April 2014 by the directors of the company. Costs are assigned to stock on hand at the end of the reporting period using actual cost of purchase. 19

CAT PROTECTION SOCIETY OF VICTORIA LTD ABN: 35 390 087 628 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 Note 1: Summary of significant accounting policies (Continued) d) Property, plant and equipment Gains and losses on disposals are determined by comparing proceeds with the carrying amount. Each class of property, plant and equipment is These gains or losses are included in the statement of carried at cost or fair value as indicated, less, comprehensive income. When revalued assets are sold, where applicable, accumulated depreciation and amounts included in the revaluation reserve relating to impairment losses. that asset are transferred to accumulated surplus. Property (e) Leases Freehold land and buildings are shown at their fair Lease payments for operating leases, where value (being the amount for which an asset could be substantially all the risks and benefits remain with the exchanged between knowledgeable willing parties in lessor, are charged as expenses on a straight line basis an arm’s length transaction). or in the period when they are incurred as applicable. Increases in the carrying amount arising on (f) Impairment of assets revaluation of land and buildings are credited to a revaluation reserve in equity. Decreases that offset At the end of each reporting period, the company previous increases of the same classes of assets are reviews the carrying values of its assets to determine charged against fair value reserves directly in equity; whether there is any indication that those assets all other decreases are charged to the profit or loss. have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher Plant and equipment of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Plant and equipment are measured on the cost basis Any excess of the asset’s carrying value over its less accumulated depreciation and impairment losses. recoverable amount is expensed to the statement of comprehensive income. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in Where it is not possible to estimate the recoverable excess of the recoverable amount from these assets. amount of an individual asset, the company estimates The recoverable amount is assessed on the basis of the recoverable amount of the cash-generating unit the expected net cash flows that will be received from to which the asset belongs. the assets employment and subsequent disposal. The expected net cash flows have been discounted to their (g) Employee benefits present values in determining recoverable amounts. Provision is made for the company’s liability for Depreciation employee benefits arising from services rendered by employees to balance date. Employee benefits that The depreciable amount of all fixed assets, but are expected to be settled within one year have been excluding property, is depreciated over their useful measured at amounts expected to be paid when the lives to the company commencing from the time the liability is settled, plus related on-costs. Employee asset is held ready for use. benefits payable later than one year have been measured at the present value of the estimated future The assets’ residual values and useful lives are cash outflows to be made for those benefits. reviewed, and adjusted if appropriate, at each balance sheet date. Asset classes carrying amount is Contributions are made by the company to an written down immediately to its recoverable amount employee superannuation fund and are charged as if the asset’s carrying amount is greater than its expenses when incurred. estimated recoverable amount.20

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2014Note 1: Summary of significant accounting policies (Continued)(h) Financial instruments (j) Income taxInitial recognition and measurement The company is a charitable institution for the purposes of Australian taxation legislation and isFinancial assets and financial liabilities are therefore exempt from income tax. The companyrecognised when the company becomes a party holds deductible gift recipient status.to the contractual provisions to the instrument. Forfinancial assets, this is equivalent to the date that (k) Goods and services tax (GST)the company commits itself to either purchase orsell the asset (i.e. trade date accounting is adopted). Revenues, expenses and assets are recognised netFinancial instruments are initially measured at fair of the amount of GST, except where the amount ofvalue plus transactions costs. GST incurred is not recoverable from the Australian Taxation Office. In these circumstances, the GSTClassification and subsequent measurement is recognised as part of the cost of acquisition of the asset or as part of an item of the expense.Financial instruments are subsequently measured at Receivables and payables in the statement ofeither fair value, amortised cost using the effective financial position are shown inclusive of GST.interest rate method or cost. Fair value representsthe amount for which an asset could be exchanged (l) Comparative figuresor a liability settled, between knowledgeable, willingparties. Where available, quoted prices in an active Where required by Accounting Standardsmarket are used to determine fair value. comparative figures have been adjusted to conform with changes in presentation for the current(i) Loans and receivables financial year. Loan and receivables are non-derivative financial (m) Critical accounting estimates and judgments assets with fixed or determinable payments that are not quoted in an active market and are subsequently The company evaluates the estimates and judgments measured at amortised cost. incorporated into the financial report based on historical knowledge and best available current(i) Financial instruments information. Estimates assume a reasonable expectation of future events and are based on current (ii) Available-for-sale financial assets trends and economic data, obtained both externally and within the company. Available-for-sale financial assets are non-derivative financial assets that are either not capable of being Key estimates – impairment classified into other categories of financial assets due to their nature, or they are designated as such The company assesses impairment at each reporting by management. They comprise investments in the date by evaluation of conditions and events specific equity of other entities where there is neither a fixed to the company that may be indicative of impairment maturity nor fixed or determinable payments. triggers. Recoverable amounts of relevant assets are reassessed using value-in-use calculations which (iii) Financial liabilities incorporate various key assumptions. No impairment was recorded for the current financial year. Non-derivate financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost. 21

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628 NOTES TO THE FINANCIAL STATEMENTS 2014 2013 $ $ FOR THE YEAR ENDED 31 DECEMBER 2014 – 3,356 Note 2: Operating income 1,846 452 Fetes and stalls 1,680 2,010 Subscriptions 58,860 55,842 Hostel-related income 11,718 10,849 – service provision 13,378 10,569 – cat sales – shop sales / auxiliary fund raising 87,482 83,078 – veterinary services 27,110 27,385 Note 3: Direct operating expenses 35,974 29,570 3,282 15,847 Cleaning, cage materials and waste disposal 101,620 90,335 Food materials 3,666 72,248 Shop and auxiliary goods 3,532 Veterinary supplies 919 6,548 Veterinary expenses 11,841 Vehicle expenses 7,436 – Repairs and maintenance IT expenses 191,848 245,465 Note 4: Other income 40,537 43,286 419,669 380,917 Donations 1,474,367 830,207 Interest and dividends 30,258 Legacies – Gain on disposal of investments 1,284,668 1,934,573 Note 5: Employee benefits expense 579,499 443,786 Wages and salaries 59,828 45,304 Superannuation 4,023 Workcover 1,554 4,650 Staff amenities 19,752 1,015 Temporary Staff 664,656 –22 494,755

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628NOTES TO THE FINANCIAL STATEMENTS 2014 2013 $ $FOR THE YEAR ENDED 31 DECEMBER 2014 12,293 16,497Note 6: Other operating expenses 15,570 15,965 28,015 24,347Printing, postage and stationery 6,985Audit and accounting fees 14,566 7,965Gas and electricity 10,060 16,868Telephone 12,201 11,018Rates and taxes 2,342Insurance 4,493 8,414Depreciation 3,793 2,303Bank charges 13,645Legal fees – 6,363Building consultancy 10,888 4,500Who’s For Cats expenses 1,873General expenses 121,206 129,758Note 7: Cash and cash equivalents 250 345Cash on hand 122,449 146,294Cash at bank 204,989 1,088,219Cash management 6,293,836Short-term deposits (with original maturities of three months or less) – 7,528,694Note 8: Trade and other receivables 327,688CURRENT 113,192 23,502Interest receivables 22,026 5,138Franking credits receivables 500,000 –Other receivablesGST receivables 9,342 16,758Note 9: Other financial assets 644,560 45,398CURRENT 8,404,033 1,176,334Short-term deposits (with original maturities of more than three months) 23

CAT PROTECTION SOCIETY OF VICTORIA LTD ABN: 35 390 087 628 NOTES TO THE FINANCIAL STATEMENTS 2014 2013 $ $ FOR THE YEAR ENDED 31 DECEMBER 2014 13,734 11,367 Note 10: Inventories 100 100 CURRENT 2,850 1,327 At cost: – Veterinary supplies 16,684 12,794 – Fund raising goods – Animal supplies 154,432 67,361 1,466,462 1,592,096 Note 11: Available-for-sale financial assets 1,620,894 1,659,457 NON-CURRENT Listed investments – at fair value – National income securities – Shares in listed corporations Note 12: Property, plant and equipment 2,160,000 2,160,000 52,390 28,500 Properties – at valuation 2013 Building work in progress – at cost 2,212,390 2,188,500 Plant and equipment – at cost 345,854 412,593 Less accumulated depreciation (318,105) (386,585) 27,749 26,008 2,240,139 2,214,508 Asset Revaluations The freehold land and buildings were independently valued at 31 December 2013 by Ken Moroney Pty Ltd. The valuation was based on the market value. The critical assumptions adopted in determining the valuation included the location of the land and buildings, the current demand for properties in the area and recent sales data for similar properties. The valuation resulted in a revaluation increment of $610,000 being recognised in the asset revaluation reserve for the year ended 31 December 2013.24

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2014Note 12: Property, plant and equipment (cont’d)Movement in carrying amountsMovement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of thecurrent financial year: Properties Plant and Total $ equipment $ $Balance at 1 January 2014 2,188,500 26,008 2,214,508Additions 23,890 13,942 37,832Revaluation increments – –Depreciation expense – – (12,201) (12,201)Balance at 31 December 2014 2,212,390 27,749 2,240,139 2014 2013 $ $Note 13: Trade and other payables 21,313 166,156CURRENTTrade creditors and accrued expenses 86,487 320,465Note 14: Provisions 356,838 125,940CURRENTEmployee benefitsNote 15: Key management personnel compensationTotal compensation 25

CAT PROTECTION SOCIETY OF VICTORIA LTD ABN: 35 390 087 628 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 Note 16: Reserves (a) Asset revaluation reserve The asset revaluation reserve records the revaluation of non-current assets. (b) Financial assets reserve The financial assets reserve records revaluation increments and decrements (that do not represent impairment write-downs) that relate to financial assets that are classified as available-for-sale.26

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628DIRECTORS’ DECLARATIONIn accordance with a resolution of the directors of Cat Protection Society of Victoria Ltd, the directors of the companydeclare that:1. The financial statements and notes, as set out on pages 7 to 19, are in accordance with the Corporations Act 2001 and: a) comply with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations Regulations 2001; and b) give a true and fair view of the financial position of the company as at 31 December 2014 and of its performance for the year ended on that date.2. In the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.Director:Director:Dated this 9th day of April 2015 27

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628 McLean Delmo Bentleys Audit Pty Ltd Level 3, 302 Burwood Rd MHacwLtehaonrnDVeilcm3o12B2entleys PAOudBitoPxt5y8L2td HLeavwetlh3o,r3n0V2icB3u1rw22ood Rd HABawNth5o4r1n1V3ic6351525284 TPO+6B1o3x 5980218 4666 HF a+w61th3or9n0V1ic8 34172929 [email protected] mT +cl6e1an3d9e0lm1o8b4e6n6tl6eys.com.au F +61 3 9018 4799 [email protected] mcleandelmobentleys.com.auINDEPENDENT AUDITOR’S REPORTTO THE MEMBERS OF CAT PROTECTION SOCIETY OF VICTORIA LTDReport on the Financial ReportWe have audited the accompanying financial report of Cat Protection Society of Victoria Ltd (the company), whichcomprises the statement of financial position as at 31 December 2014, and the statement of comprehensiveincome, statement of changes in equity and statement of cash flows for the year then ended, notes comprising asummary of significant accounting policies and other explanatory information, and the directors’ declaration.Directors’ Responsibility for the Financial ReportThe directors of the company are responsible for the preparation of the financial report that gives a true andfair view in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and theCorporations Act 2001 and for such internal control as the directors determine is necessary to enable thepreparation of the financial report that is free from material misstatements, whether due to fraud or error.Auditor’s ResponsibilityOur responsibility is to express an opinion on the financial report based on our audit. We conducted our auditin accordance with Australian Auditing Standards. Those standards require that we comply with relevantethical requirements relating to audit engagements and plan and perform the audit to obtain reasonableassurance about whether the financial report is free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in thefinancial report. The procedures selected depend on the auditor’s judgement, including the assessment ofthe risks of material misstatement of the financial report, whether due to fraud or error. In making those riskassessments, the auditor considers internal control relevant to the entity’s preparation of the financial reportthat gives a true and fair view in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An auditalso includes evaluating the appropriateness of accounting policies used and the reasonableness of accountingestimates made by the directors, as well as evaluating the overall presentation of the financial report.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for ouraudit opinion. Accountants Auditors Advisors Accountants Auditors Advisors28

CAT PROTECTION SOCIETY OF VICTORIA LTDABN: 35 390 087 628 McLean Delmo Bentleys Audit Pty Ltd Level 3, 302 Burwood Rd HMacwLtehaonrnDVeilcm3o12B2entleys APOudBitoPxt5y8L2td LHeavwetlh3o,r3n0V2icB3u1rw22ood Rd AHBawNth5o4r1n1V3ic6351525284 TPO+6B1o3x 5980218 4666 HF a+w61th3or9n0V1ic8 34172929 [email protected] Tm+cl6e1an3d9e0lm1o8b4e6n6tl6eys.com.au F +61 3 9018 4799 [email protected] mcleandelmobentleys.com.auINDEPENDENT AUDITOR’S REPORTTO THE MEMBERS OF CAT PROTECTION SOCIETY OF VICTORIA LTDIndependenceIn conducting our audit, we have complied with the independence requirements of the Corporations Act2001. We confirm that the independence declaration required by the Corporations Act 2001, which has beengiven to the directors of Cat Protection Society of Victoria Ltd, would be in the same terms if given to thedirectors as at the time of this auditor’s report.OpinionIn our opinion, the financial report of Cat Protection Society of Victoria Ltd is in accordance with theCorporations Act 2001, including:(i) giving a true and fair view of the company’s financial position as at 31 December 2014 and of its performance for the year ended on that date; and(ii) complying with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations Regulations 2001.McLean Delmo Bentleys Audit Pty Ltd James Ridley HawthornPartner 9th April 2015 Accountants Auditors Advisors Accountants Auditors Advisors 29

Where are they now? Doctor Mew I just wanted to send through a massive thank you for being so amazing! Four weeks ago ‘Linka’ and I adopted each other. She has been the most amazing addition to my life ever and I can’t believe it’s only four weeks that we have had each other for! She is now known as Doctor Mew, or The Doctor, she has well and truly made herself comfortable in her new home and she is the most adorable little companion. I’m not sure that she got the memo that she is a cat, she behaves far more like a puppy! I’m always updating my Instagram and spreading the word about the wonderful work you guys do. Thank you so much again for bringing this perfect little lady into my life! Thank you! Casey and The Doctor xx Harvey Harvey was one of CPS’ foster kittens who touched everyone he met. So we were thrilled to get this update and see Harvey in his awesome new home. From his family; “Hi there, we adopted Harvey back in December. He is the sweetest little guy! I don’t know where we would be without his sandpaper kisses and nose bumps! Harvey was settled within a day and has made himself right at home. He and Cletus are getting along fine apart from the occasional disagreement (to be expected). We love him so much. Kind regards, Alex, Matt, Harvey and Cletus30

My name is Becky, please adopt me. Female. 10.5 years. ID# 613 Becky is a lady of poise and grace – she is a pleasure to hang out with and enjoys the finer things in life. Becky has a gorgeous coat and stunning green eyes. She can’t wait to go to her forever home. .HarryA few weeks ago my partner and I bought abeautiful boy named Harry from you. He hassince been re-named Fat Nigel by us, Brunoby my father and Niles by a friend. We werewarned it might take him some time to settle inbut this is day 2 and he seemed pretty relaxed:He has made himself at home with our familiesand friends: We love him! We wanted to showyou he went to a good home and is very happyhere. Thank you for the work you do and forlooking after him so well before we took himhome!!! Hopefully soon we will come in andbring him home a kitty friend to spend thelonely days with while the humans are workingfor his food.From Kate & Daniel 31

Contact UsPhone: 03 8457 6500Address: 200 Elder Street Greensborough, Victoria 3088Email: [email protected]: www.catprotection.com.auInstagram: @catprotectionTwitter: www.twitter.com/catprotection