LITTLE SHIP CLUB (Qld) 2016-17 ANNUAL REPORT

Auditor's Independence Declaration

Page 6 of 24

UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 I declare that, to the best of my knowledge and belief, during the year ended 30 June 2016 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 Little Ship Club Queensland Squadron Statement of Profit or Loss and Other Comprehensive Income For the year ended 30 June 2017 Note 2017 2016 $ $

Revenue

2

1,042,821

893,613

Otherrevenue

2

107,927

91,608

Mobbs & Company Pty Ltd Stephen Shirley, Company Auditor Registration - #290262 Unit F3 The Precinct, 12 Browning Street, West End Qld 4104 Cost of sales

(412,172) 738,576

(425,758) 559,463

Gross profit

Marketing

(6,247)

(7,214)

________________________________________

Selling expenses

(5,175)

(2,146)

West End Administration expenses

(299,512)

(249,524)

Employment expenses

(397,690)

(367,199)

FundingCosts

(1,029)

(1,175)

Section Expenses

(28,923) 11,752

(3,039)

Profit before income tax

(70,834)

Income tax (credit) expense

-

-

Profit for the year

11,752

(70,834)

Other comprehensive income: Items that will not be reclassified to profit or loss: Items that will be reclassified subsequently to profit or loss when specific conditions are met: Total other comprehensive income for the year, net of tax

-

-

Total comprehensive income for the year

11,752

(70,834)

The accompanying notes form part of these financial statements.

The accompanying notes form part of these financial statements.

FS.6

Annual Report 2016–2017

Little Ship Club (Queensland Squadron)