Special Purpose Financial Statements

Special Purpose

Financial Statements

for year ending

31

st

March 2020

3

Contents

Income Statement

4

Balance Sheet

5

Cash Flow Statement

6

Notes to the Financial Statements

7

Statement by Board of Trustees

8

Independent Audit Report

9 - 12

Applied for Funding ……paid

13

Applied for Funding ……approved but not yet paid 14

Member Designations 2019-20

15

Outside Member contributions

16

4 INCOME

Corporate Sponsorship

AWA Alliance Bank payable donations

EXPENDITURE

All Sponsorships and Expenditure

22,500

3,497

Approved but not yet paid - AWAAB

Operating surplus

Retained earnings at beginning of year

RETAINED EARNINGS 17,000 45 6,050

AWA Alliance Bank designated funding Interest Member Contributions 109,919 112,216 366 1,535 956 17,013 134,395 62,003

for year ending 31 March 2020

INCOME STATEMENT

23,400 Input Tax Credits

7,500 10,000 Year ending 31 March 2020 Year ending 31 March 2019 7,110 15,087 57,085 $ $ 77,160 (20,075) 24,003 77,160 53,157 47,224 8,550

Approved but not yet paid - PEACH

171,495

$ $ 129,724

Sundry Other Income

151,420

5

ACCUMULATED SURPLUSES at end of period

Represented by:

CURRENT ASSETS

Cash at Bank

Input tax credits receivable

TOTAL ASSETS CURRENT LIABILITIES 6,050 17,000 TOTAL LIABILITIES NETT ASSETS

Approved but not yet paid - PEACH

BALANCE SHEET

as at 31 March 2020

Year ending

31 March

2020

Approved but not yet paid - AWAAB

6

Opening balance: $ 141,125

Uncommitted funds: $ 64,224

INCOME

Income receivable - GST outstanding at 1st April 2019 259

Member Contributions 109,919 Alcoans 108,129 External Contributors 1,790 AWA Alliance Bank - philanthropic designated donations 15,087 Direct Deposit Donations - Coca Cola Amatil 105

Direct Deposit Donations - Sims Metal Recycling -Donations - ESS rewards -Sundry Other Donations 261

- Booragoon staff canteen 21

- Wagerup staff (IWD morning tea) 240

Alcoa sponsorship 7,500 ATO - input tax credits 12,804 Interest 1,535 147,470 $ EXPENDITURE Applied for Sponsorships - PEACH 166,941 Applied for Sponsorships - AWAAB 28,455 Member designations received & forwarded 5,757 Outside Member designations received & forwarded 780

Donations - to HALO to help with Christmas Lunch costs 500

Sundry payments 654

- PEACH hard labels and stickers 575

- gift for departing Administrator 79

Annual Audit 1,020 GST component of above 17,014 221,120 $ Summary: 31-Mar-20 $ 67,475 14,600 $ 31-Mar-20 $ 52,875 52,787 AWAAB: 88 Net of GST

Closing book balance:

CASHFLOW STATEMENT

01-Apr-19 01-Apr-19

Net of GST

Total Uncommitted funds at:

PEACH:

7

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st March 2020

NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

This financial report is a special purpose financial report prepared in order to satisfy the Trustees’ financial reporting requirements of the Trust Deed and the Australian Charities and Not for Profits Commission Act 2012. The Trustees have determined that the Trust is not a reporting entity.

This special purpose financial report has been prepared in accordance with the requirements of the Trust Deed and the following Australian Accounting Standards:

AASB 110 Events after the Balance Sheet Date AASB 1031 Materiality

No other applicable Accounting Standards, Australian Accounting Interpretations or other authoritative pronouncements of the Australian Accounting Standards Board have been applied. The financial report has been prepared on an accruals basis and is based on historic costs and

does not take into account changing money values, or except where specifically stated, current valuations of non-current assets.

The following specific accounting policies, which are consistent with the previous period unless otherwise stated, have been adopted in the preparation of this financial report.

(a) Income Tax. The Trust Fund is tax exempt.

(b) Liabilities. Donations that have been approved are accrued as liabilities.

(c) Revenue. Contributions from members is recognised when the amount is deducted from contributors’ pay.

NOTE 2 FINANCIAL REPORT

The Trust Fund has been promised (annual) sponsorship from Alcoa of Australia Limited.

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF PERSONNEL EMPLOYED AT ALCOA CHARITY HELP (P.E.A.C.H) Report on the Audit of the Financial Report

Qualified Opinion

We have audited the financial report of Personnel Employed at Alcoa Charity Help (P.E.A.C.H) which

comprises the balance sheet as at 31 March 2020, the income statement and the cashflow statement for the year then ended, notes to the financial statements,including a summary of significant accounting policies, and the statement by the board of trustees.

In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying financial report is in accordance with Division 60 of the Australian Charities and

Not-for-profits Commissions Act 2012, including:

i) giving a true and fair view of the financial position of Personnel Employed at Alcoa Charity Help (P.E.A.C.H) as at 31 March 2020 and of its financial performance and cashflows for the year then ended; and

ii) complying with the accounting policies described in Note 1 and Division 60 of the Australian

Charities and Not-for-profits Commission Regulations 2013.

Basis for Qualified Opinion

As is common for organizations of this type, it is not practicable for Personnel Employed at Alcoa Charity Help (P.E.A.C.H), to maintain an effective system of internal control over member contributions; members

designated donations and other income raising activities until their initial entry in the accounting records. Accordingly, our audit in relation to income was limited to amounts recorded in the financial records.

We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the FinancialReport section of

our report. We are independent of Personnel Employed at Alcoa Charity Help (P.E.A.C.H) in accordance with the Australian Charities and Not-for-profits Commission Act 2012 and the ethicalrequirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethicsfor Professional Accountants

(the Code) that are relevant to our audit of the financial report inAustralia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Webelieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Emphasis of Matter- Basis of Accounting

Trustees’ Responsibilities for the Financial Report

The Trustees of the trust are responsible for the preparation of the financial report that gives a true and fair view and have determined that the basis of preparation described in Note 1 to the financial report is appropriate to meet the requirements of the Trust Deed, the Australian Charities and Not-for-profits

Commissions Act 2012 and the needs of the members. The Trustee’s responsibility also includes such internal

control as determined necessary to enable the preparation of a financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the financial report, the Trustees are responsible for assessing Personnel Employed at Alcoa Charity Help (P.E.A.C.H)’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless management either intend to liquidate Personnel Employed at Alcoa Charity Help (P.E.A.C.H) or to cease operations, or has no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Report

Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report thatincludes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that anaudit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered materialif, individually or in the aggregate, they could reasonably be expected to influence the economicdecisions of users taken on the basis of the financial report.

As part of an audit in accordance with Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made.

• Conclude on the appropriateness of the use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the registered entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the registered entity to cease to continue as a going concern.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

AMD Chartered Accountants

MARIA CAVALLO Director

AUDITOR’S INDEPENDENCE DECLARATION

TO THE BOARD OF TRUSTEES OF PERSONNEL EMPLOYED AT ALCOA CHARITY HELP (P.E.A.C.H)

I declare that to the best of my knowledge and belief, during the year ended 31 March 2020, there have been no contraventions of:

i) The auditor independence requirements as set out in Section 60.40 of the Australian Charities and

Not-for-profits Commission Act 2012 in relation to the audit; and

ii) Any applicable code of professional conduct in relation to the audit.

AMD Chartered Accountants

MARIA CAVALLO Director

Bunbury, WA

15

Adult and Teen Challenge WA 1,040.00

Cancer Council WA 130.00

Canteen 260.00

Homestead 4 Youth 60.00

Mandurah Surf Life Saving Club (Inc.) 665.00 Multiple Sclerosis Society of WA (Inc.) 130.00

Ngala Family Resource Centre 52.00

Perth Children's Hospital Foundation 1,150.00 Port Bouvard Surf Life Saving Club 130.00

Rocky Bay 260.00

Royal Flying Doctor Service (WA Section) 113.00

Salvation Army Mandurah 112.00

Salvation Army WA 240.00

Starlight Children's Foundation 2,065.00

The WA Deaf Society (Inc.) 130.00

Total forwarded by end of March 2020: $ 6,537.00 $

MEMBER DESIGNATIONS 2019-20

Explanation:

Contributors to PEACH may choose to designate their contributions either in full or part to a charity or charities of their choice. These donations are paid annually

to the recipient organisations by the end of the current financial year.

-16 $ Outside Member 1 260.00 Outside Member 2 520.00 Outside Member 3 360.00 Outside Member 4 600.00 Outside Member 5 50.00

Total of Outside Member contributions received: $ 1,790.00

OUTSIDE MEMBER CONTRIBUTIONS

The following represents a list of contributors other than permanent Alcoa employees who have supported PEACH by way of direct credits or other payments

17

16 April 2020

AMD Chartered Accountants PO Box 1306

BUNBURY WA 6230

Dear Sirs/Madam

REPRESENTATION LETTER

This representation letter is provided in connection with your audit of the financial report of Personnel Employed at Alcoa Charity Help (P.E.A.C.H) for the year ended 31 March 2019, for the purpose of you expressing an opinion as to whether the financial report gives a true and fair view in accordance with the accounting polices outlined within Note 1.

We confirm that (to the best of our knowledge and belief, having made such enquires as we considered necessary for the purpose of appropriately informing ourselves):

Financial Report

• We have fulfilled our responsibilities, as set out in the terms of the audit engagement dated March 2019, for the preparation of the financial report in accordance with Note 1. to the financial report in particular the financial report is fairly presented and gives a true and fair view in accordance therewith.

• Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.

• Related party relationships and transactions have been appropriately accounted for and disclosed.

• All events subsequent to the date of the financial report have been adjusted or disclosed.

• The effects of uncorrected misstatements are immaterial, both individually and in aggregate, to the financial report as a whole.

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Information Provided

• We have provided you with:

o Access to all information of which we are aware that is relevant to the preparation of the financial report such as records, documentation and other matters;

o Additional information that you have requested from us for the purpose of the audit; and

o Unrestricted access to persons within the entity from whom you determined it necessary to obtain audit evidence.

• All transactions have been recorded in the accounting records and are reflected in the financial report.

• We acknowledge our responsibility for the design, implementation and maintenance of internal control to prevent and detect fraud.

• We have disclosed to you the results of our assessment of the risk that the financial report may be materially misstated as a result of fraud.

• We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves:

o Management;

o Employees who have significant roles in internal audit control; and

o Others where fraud could have a material effect on the financial report. • We have disclosed to you all information in relation to allegations of fraud, or

suspected fraud, affecting the entity’s financial report communicated by employees, former employees, analysts, regulators or others.

• We have disclosed to you known actual or possible litigation and claims whose effects should be considered when preparing the financial report.

• We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial report.

• We have disclosed to you the identity of the entity’s related parties and all the related party relationships and transactions of which we are aware. • We have provided you with all requested information, explanations and

assistance for the purposes of the audit.

• We have provided you with all the information required by the Trust Deed.

Other

• We acknowledge our responsibility for the design and implementation of internal control to prevent and detect error. We have established and

19

There are no material transactions that have not been properly recorded in the accounting records underlying the financial report.

• We have no plans or intentions that may materially affect the carrying values, or classification, of assets and liabilities.

• We have considered the requirements of AASB 136 – “Impairment of Assets” when assessing the impairment of assets and in ensuring that no assets are stated in excess of their recoverable amount.

• There are no violations or possible violations of laws or regulations whose effects should be considered for disclosure in the financial report or as a basis for recording an expense.

• The Trust has satisfactory title to all assets, and there are no liens or encumbrances on such assets nor has any asset been pledged as collateral. Allowances for depreciation have been adjusted for all items of property, plant and equipment that have been abandoned or are otherwise unusable. • The Trust has complied with all aspects of contractual agreements that would

have a material effect on the financial report in the event of non-compliance. • There are no liabilities, both actual and contingent, that have arisen which we

have not disclosed to you.

• There were no material commitments for construction or acquisition of property, plant and equipment or to acquire other non-current assets, such as investments or intangibles, other than as disclosed in the financial report. • The Trust is considered to be a non-reporting entity because it is likely that

all users of the financial reports are able to obtain financial information by access to the Board of Trustees.

We understand that your examination was made in accordance with Australian Auditing Standards and was, therefore, designed primarily for the purpose of expressing an opinion on the financial report of the entity taken as a whole, and that your tests of the financial records and other auditing procedures were limited to those which you

considered necessary for that purpose. Yours faithfully

_______________________________ John Lawrence

Treasurer