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Journeys : Oct Nov 2012
RACT Annual Report 2011/12 16 Notes to and forming part of the Financial Statements for the financial year ended 30 June 2012 1. BASIS OF PREPARATION The concise financial report has been prepared in accordance with the Corporations Act 2001 and AASB 1039 “Concise Financial Reports”. T he concise financial report, including the financial statements and specific disclosures included in the concise financial report, has been derived from the full financial report of The Royal Automobile Club of Tasmania Limited. A full description of the accounting policies adopted by the economic entity is provided in the 2012 Financial Statements which form part of the full financial report. The accounting policies of the group are consistent with those of the previous financial year. 2. REVENUE CONSOLIDATED 2012 $ 2011 $ Revenue consisted of the following items (a) Revenue Interest from other bodies corporate 26,088 74,905 Distributions from funds under management 183,505 109,032 Rental revenue 1,243,802 679,157 Membership subscriptions and entrance fees 11,096,969 10,408,389 Other services and activities 11,492,796 10,964,108 Advertising & other income 483,805 416,348 Dividends 15,540 44,000 24,542,505 22,695,939 (b) Share of Profit of Associates Share of profit of associates 5,637,749 2,779,807 5,637,749 2,779,807 (c) Other Revenue Gain on disposal of property, plant and equipment 25,859 12,629 25,859 12,629 30,206,113 25,488,375 Directors’ Declaration The Directors declare that: (a) The attached financial statements and notes thereto comply with Accounting Standard AASB 1039 “Concise Financial Reports”; and (b) The attached financial statements and notes thereto have been derived from the full financial report of the company. Signed for and on behalf of the Board of Directors and in accordance with a resolution of the Board pursuant to section 295 (5) of The Corporations Act 2001. S E SLADE, DIRECTOR R H HOLMES, DIRECTOR Hobart, 18 September 2012. 92 October / November 2012
Aug Sep 2012
Dec 2012 Jan 2013