BUSHkids Annual Report 2019-20

TOPIC SECTION 72 ANNUAL REPORT 2019–2020 N TES TO THE FINANCIAL STATEMENTS – NOTES 16 – 21 FINAN IALS ROYAL QUEENSLAND BUSH CHILDREN'S HEALTH SCHEME ABN 43 824 927 762 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020 16 - STATEMENT OF CASH FLOWS 2020 2019 $ $ Reconciliation of surplus after income tax for the year to net cash used in operating activities Operating Surplus 318,529 843,972 Depreciation and amortisation 874,087 293,406 Employee benefits expense 92,639 90,973 Net gain/(loss) on disposal of other non-current assets (202,772) (21,987) Change in Assets and Liabilities Decrease (increase) in trade receivables and other receivables 245,012 (225,990) Decrease (increase) in inventories 18,193 (111,371) Decrease (increase) in prepayments and deposits (54,328) (33,277) Increase (decrease) in trade and other payables 74,489 94,727 Increase (decrease) in contract liabilities (1,325,810) 75,549 Net cash used in operating activities 40,039 1,006,002 17 - REMUNERATION OF COUNCILLORS No Councillor of Royal Queensland Bush Children's Health Scheme received or is due to receive any remuneration for the year ended 30 June 2020. 0 0 18 - REMUNERATION OF AUDITORS Auditing the Financial Statements 5,800 5,400 19 - CONTINGENT ASSETS & LIABILITIES National Redress Scheme The Federal Government has established the National Redress Scheme for people who have experienced institutional child sexual abuse. Royal Queensland Bush Children's Health Scheme has signed an intent to join the National Redress Scheme with participation in the National Redress Scheme to be finalised by 31 December 2020. There were no other contingent assets or liabilites as at 30 June 2020. 20 - CAPITAL EXPENDITURE COMMITMENTS There are no major capital expenditure commitments at 30 June 2020. 21 - SUBSEQUENT EVENTS The impact of the Coronavirus (COVID-19) pandemic is ongoing. It is not practicable to estimate the portential impact, positive or negative, after the reporting date. The situation is rapidly developing and is dependent on measures imposed by the Australian Government such as maintaining social distrancing requirements, quarantine, travel restrictions and any economic stimulus that may be provided. Similarly the impact of the National Redress Scheme as detailed in Note 19 will be ongoing but is unable to be quantified at the date of this report. No other matter or circumstance has arisen since 30 June 2020 that has significantly affected, or may significantly affect the Scheme's operations, the results of those operations, or the Scheme's state of affairs in future financial years.