• October 24, 2018
  • Neo Joala
  • News

Annual Financials 2017

 

 

 

SOS Children’s Village Association of the Republic of South Africa

(Registration number 001-255 NPO)

PBO number 130001880

Annual Financial Statements

for the year ended December 31, 2017

 

 

 

Statement of Financial Position as at December 31, 2017
Figures in Rand Note(s) 2017 2016
Assets
Non‑Current Assets
Property, plant and equipment 3        18,950,915        22,859,008
Other financial assets 4          3,301,646          2,846,403
       22,252,561        25,705,411
Current Assets
Trade and other receivables 6          7,307,816          4,935,588
Cash and cash equivalents 7        19,036,853        24,917,295
       26,344,669        29,852,883
Total Assets        48,597,230        55,558,294
Equity and Liabilities
Equity
Reserves          8,066,515                          –
Accumulated Funds        25,273,619        41,071,230
       33,340,134        41,071,230
Liabilities
Non‑Current Liabilities
Retirement benefit obligation 5             658,466             551,237
Current Liabilities
Provisions 10             360,000             365,100
Trade and other payables 12          5,945,359          4,839,087
Deferred income 13             578,541          1,314,247
Funds Held on Behalf of Children 11          7,714,730          7,417,393
       14,598,630        13,935,827
Total Liabilities        15,257,096        14,487,064
Total Equity and Liabilities        48,597,230        55,558,294

 

Statement of Profit or Loss and Other Comprehensive Income
Figures in Rand Note(s) 2017 2016
Revenue 14        82,084,867        84,913,817
Other operating income          2,454,015          1,804,819
Other operating (losses) / gains 15           (574,978)                91,200
Other operating expenses     (92,390,481)     (95,391,944)
Operating deficit 16       (8,426,577)       (8,582,108)
Investment income 17             813,073          1,339,726
Deficit for the year       (7,613,504)       (7,242,382)
Other comprehensive income:
Items that will not be reclassified to profit or loss:
Actuarial (loss) / gain on defined benefit liability           (117,592)                99,771
Other comprehensive income for the year           (117,592)                99,771
Total comprehensive deficit for the year       (7,731,096)       (7,142,611)

 

Statement of Changes in Equity
Figures in Rand Continuity Reserve Liquidity Reserve Total reserves Accumulated Funds Total equity
Balance at January 1, 2016                          –                          –                          –        48,213,841        48,213,841
Deficit for the year                          –                          –                          –       (7,242,382)       (7,242,382)
Other comprehensive income                          –                          –                          –                99,771                99,771
Total comprehensive deficit for the year                          –                          –                          –       (7,142,611)       (7,142,611)
Balance at January 1, 2017                          –                          –                          –        41,071,230        41,071,230
Deficit for the year                          –                          –                          –       (7,613,504)       (7,613,504)
Other comprehensive income                          –                          –                          –           (117,592)           (117,592)
Total comprehensive deficit for the year                          –                          –                          –       (7,731,096)       (7,731,096)
Transfer between reserves ‑ Recognition of reserves 8&9             716,637          7,349,878          8,066,515       (8,066,515)                          –
Balance at December 31, 2017             716,637          7,349,878          8,066,515        25,273,619        33,340,134

 

Statement of Cash Flows
Figures in Rand Note(s) 2017 2016
Cash flows from operating activities
Cash generated from operations        81,958,196        84,077,168
Cash used in operations     (88,305,248)     (92,666,818)
Net cash used in operations 18       (6,347,052)       (8,589,650)
Interest income             730,773          1,339,726
Dividend income                82,300                          –
Net cash utilised in operating activities       (5,533,979)       (7,249,924)
Cash flows utilised in investing activities
Purchase of property, plant and equipment 3           (868,988)       (3,209,052)
Sale of property, plant and equipment 3             757,456                91,200
Investment in financial assets           (234,931)       (2,846,403)
Net cash from investing activities           (346,463)       (5,964,255)
Total cash movement for the year       (5,880,442)     (13,214,179)
Cash at the beginning of the year        24,917,295        38,131,474
Total cash at end of the year 7        19,036,853        24,917,295