Sample financial statement

Part of: Filing annual financial statements

This sample financial statement should only be used as a guide when preparing an annual financial statement for an incorporated society.

Income, expenses, assets and liabilities should be presented in categories that are appropriate to the society’s circumstances.

We recommend you review the rules of the society. Where the rules specify:

  • a particular format of financial statement, for example compliance with GAAP, you must meet these requirements; or
  • that an auditor must be appointed, the audit report must be attached to the financial statement.

This sample statement should not be used where the society has financial statement preparation and filing obligations under other legislation e.g. where the society is an issuer, FMC reporting entity, charity or industrial and provident society. In this case, we recommend you seek professional advice, as appropriate.

ABC Club Incorporated 123456 (society number)

Statement of income & expenditure for the year ended 31 March 2019*

Income 2019
$		 2018
$
Subscriptions
x,xxx
x,xxx
Advertising
xxx
-
Donations
xxx
xxx
Entry fees from annual show
x,xxx
x,xxx
General fundraising
xxx
xxx
Interest
xx
xx
Total income
x,xxx
x,xxx
Expenses 2019
$		 2018
$
Administration costs
xxx
xxx
Bank fees
xxx
xxx
Cost of annual show
x,xxx
x,xxx
Instructor fee
xxx
-
Insurance
xxx
xxx
Postage
xxx
xxx
Printing
xxx
xxx
Rates
xxx
xxx
Total expenses
x,xxx
x,xxx
Net surplus/(loss)
x,xxx
(xxx)

ABC Club Incorporated 123456 (society number)

Statement of financial position as at 31 March 2019

Assets 2019
$		 2018
$
Cash on hand
x,xxx
x,xxx
Bank accounts
x,xxx
x,xxx
Land and buildings
xxx,xxx
xxx,xxx
Sporting equipment
xxx
xxx
Clubroom equipment
xx
xx
Sundry equipment
xx
xx
Total assets
xxx,xxx
xxx,xxx
Liabilities 2019
$		 2018
$
Accrued expenses
-
xxx
Creditors
xx
xx
Total liabilities
xx
xx
Net assets (liabilities)
xxx,xxx
xxx,xxx
Accumulated funds as at 31 March
xxx,xxx
xxx,xxx

ABC Club Incorporated 123456 (society number)

Notes to financial statements as at 31 March 2019

Include details of all mortgages, charges, and securities of any description affecting any of the society’s property here. For example:

  1. The nature and amount of the borrowing that is secured; and
  2. The nature and amount of the resource(s) used as security.

* The financial statement includes the transactions and balances of the society for the financial year 1 April 2018 to 31 March 2019.

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