Page 33 - GDG Annual Report 2019

Balance Sheet / as at 30 June 2019

ASSETS 2019 2018

Current Assets
Cash and cash equivalents 5,800,131 5,168,573 Independent Auditor’s Report

Trade and other receivables 12,714 9,983
Total Current Assets 5,812,845 5,178,556
Report of the Independent Auditor on the Summary Financial Statements
Non Current Assets
Opinion
Property, plant and equipment 36,355 30,981
Total Non Current Assets 36,355 30,981 The accompanying ACFID Code of Conduct Summary Financial Report, which comprises
the summary statement of financial position (‘Balance Sheet’) as at 30 June 2019, the
TOTAL ASSETS 5,849,200 5,209,537 summary statement of comprehensive income (‘Income Statement’), summary statement of
changes in equity (‘Statement of Changes in Equity’) and table of cash movements (‘Table
of Cash Movements for Designated Purposes’) for the year then ended, is derived from the
audited financial report of Global Development Group for the year ended 30 June 2019.
LIABILITIES 2,019 2018
In our opinion, the summary financial report derived from the audited financial report of Global
Current Liabilities
Development Group for the year ended 30 June 2019 are consistent, in all material respects,
Trade and other payables 23,717 20,107 with the audited financial report, in accordance with Australian Accounting Standards.

Provisions 183,347 233,586 Summary financial statements
Total Current Liabilities 207,064 253,693
The summary financial statements do not contain all the disclosures required by the
Non Current Liabilities Australian Accounting Standards. Reading the summary financial statements and the
auditor’s report thereon, therefore, is not a substitute for reading the audited financial report
Provisions 6,261 3,287 and the auditor’s report thereon. Global Development Group’s full audited financial report is
Total Non Current Liabilities 6,261 3,287 available on request.

TOTAL LIABILITIES 213,325 256,980 The Audited Financial Report and Our Report Thereon

NET ASSETS 5,635,875 4,952,557 We expressed an unmodified audit opinion on the full financial report in our auditor’s report
dated 14 August 2019.
EQUITY

Reserves 4,952,557 3,647,940 Management’s Responsibility

Retained Earnings 683,318 1,304,617 Management is responsible for the preparation of the summary financial statements in
accordance with the ACFID Code of Conduct.
TOTAL EQUITY 5,635,875 4,952,557

Auditor’s Responsibility

Our responsibility is to express an opinion on the summary financial statements based on
our procedures, which were conducted in accordance with Auditing Standard ASA 810
Statement Of Changes In Equity / For The Year Ended 30 June 2019 Engagements to Report on Summary Financial Statements.

Retained Earnings Reserves Other Total
...............................
Jason Croston
SRJ Walker Wayland
Balance at 1 July 2018 (commencing balance) 0 4,952,557 0 4,952,557 Director
Registered Company Auditor No. 295542

Adjustments or changes in equity due to, for Date: 14 August 2019
0 0 0 0
example, adoptions of new accounting standards
Address: Unit 3, 27 South Pine Road, BRENDALE QLD 4500
Items of other comprehensive income 0 0 0 0
Excess of revenue over expenses 683,318 0 0 683,318
Other amounts transferred (to) or from reserves -683,318 683,318 0 0

Balance at 30 June 2019 (year end balance) 0 5,635,875 0 5,635,875

32 Annual Report 2019 Global Development Group Global Development Group Annual Report 2019 33