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STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
Year ended 31 March 2017
NOTE
2017
2016
$
$
Revenue
14
737,777
464,508
Interest income
247,645
222,673
Application fee income
488,000
170,000
Other operating income
2,132
71,835
Expenditure
(16,576,842) (16,342,660)
Depreciation of plant and equipment
8
(459,493)
(577,471)
Amortisation of intangible assets
9
(123,944)
(133,903)
Salaries, wages and staff benefits
(10,413,877) (10,769,972)
Staff training and development costs
(572,697)
(489,156)
Information technology expenses
(1,391,159)
(1,313,264)
Operating lease expenses
(1,457,558) (1,324,556)
Other operating expenses
(2,158,114) (1,734,338)
Deficit before government grants
(15,839,065) (15,878,152)
Government grants
17,082,094 15,534,997
Operating grants
16
16,733,198 15,227,443
Deferred capital grant amortised
12
348,896
307,554
Surplus (Deficit) before contribution to
consolidated fund
15
1,243,029 (343,155)
Contribution to consolidated fund
11
(88,363)
-
Net surplus (deficit), representing total
comprehensive income (loss) for the year
1,154,666 (343,155)
STATEMENT OF CHANGES IN EQUITY
Year ended 31 March 2017
SHARE
CAPITAL
ACCUMULATED
SURPLUS
TOTAL
$
$
$
Balance at 1 April 2015
2,097,892
17,256,126 19,354,018
Net deficit for the year, representing total
comprehensive loss for the year
-
(343,155)
(343,155)
Balance at 31 March 2016
2,097,892
16,912,971
19,010,863
Net surplus for the year, representing total
comprehensive income for the year
-
1,154,666
1,154,666
Balance at 31 March 2017
2,097,892
18,067,637 20,165,529
See accompanying notes to financial statements.
ANNUAL REPORT 2016
63