FINANCIAL STATEMENTS 2016/2017 AT ROTTERDAM Annual Report 2016/2017

Size: px

Start display at page:

Download "FINANCIAL STATEMENTS 2016/2017 AT ROTTERDAM Annual Report 2016/2017"

Jessie Taylor
5 years ago
Views:

1 FINANCIAL STATEMENTS 2016/2017 AT ROTTERDAM Annual Report 2016/2017

2 CONTENTS Page FINANCIAL REPORT 1 Audit 2 3 General 3 4 Financial position 4 1 REPORT OF 2016/ FINANCIAL STATEMENTS 1 Balance sheet as at December 31, Profit and loss account 2016/ Cash flow statement 2016/ Notes to the financial statements 11 5 Notes to the balance sheet as of December 31, Notes to the profit and loss account 2016/ Other disclosure 16 OTHER INFORMATION 1 Audit 19

3 FINANCIAL REPORT

4 To the management of Kerk van de Almachtige God (Nederland) Paul Krugerstraat 145 B GJ Rotterdam Reference Processed by Date /2017 LCM May 16, 2018 Dear board, We hereby send you the report regarding the financial statements for the year 2016/2017 of your religious community. 1 AUDIT In accordance with your instructions we have compiled the annual account 2016/2017 of the union, including the balance sheet with counts of 75,252 and the profit and loss account with a result of 74, AUDIT The union has not issued the instruction to perform an expert appraisal as indicated in Article 2:393 paragraph 1 of the Dutch Civil Code. Rotterdam, May 16, 2018 York Administraties L.C.M. van Winden

5 blad 3 van 20 3 GENERAL 3.1 Company The activities of Kerk van de Almachtige God (Nederland) mainly are religious organizations 3.2 Board On December 31, 2017 the board of directors is formed by: - Jinyan Bi (chairman) - Huijing Li (treasurer) - Pingping Zhao (secretary) 3.3 Incorporation of a company The company Kerk van de Almachtige God (Nederland) was incorporated by notarial deed on September 05, 2016 at mr. J.C. de Jonge, Utrecht. York Administraties

6 blad 4 van 20 4 FINANCIAL POSITION The balance sheet can be summarized as follows: 12/31/2017 Long term funds: Corporate capital 74,042 This amount is applied as follows: Cash and cash equivalents 75,252 Debit: Short-term debt 1,210 Working capital 74,042 Rotterdam, May 16, 2018 York Administraties L.C.M. van Winden York Administraties

7 FINANCIAL REPORT

8 blad 6 van 20 REPORT OF 2016/2017 The report is available for inspection at the partnership's premises.

9 FINANCIAL STATEMENTS

10 blad 8 van 20 1 BALANCE SHEET AS AT DECEMBER 31, 2017 (after appropriation of results) December 31, 2017 ACTIVA Current assets Cash and cash equivalents (1) 75,252 75,252 TOTAAL ACTIVA 75,252

11 blad 8 van 20 December 31, 2017 PASSIVA Equity (2) Other reserves 74,042 Current liabilities (3) Accruals and deferred income 1,210 TOTAAL PASSIVA 75,252

12 blad 9 van 20 2 PROFIT AND LOSS ACCOUNT 2016/2017 Income Balance 2016/2017 Budget 2016/2017 Nett turnover (4) 93,499 - Total turnover 93,499 - Expenses Costs of management and accounting Other operating expenses (5) 19,309 - Financial income and expenses (6) Result 74,042 - Appropriation of the results Other reserves 74,042 -

13 blad 10 van 20 3 CASH FLOW STATEMENT 2016/2017 The cash flow statement has been prepared using the indirect method. Cash flow from operating activities Operating result 74,190 Adjustments for: Movement of working capital: Movement of short-term liabilities (excluding short-term part of long-term debts) 1, /2017 Cash flow from operating activities 75,400 Interest paid -148 Cash flow from operating activities 75,252 75,252 Compilation cash Balance up to annual results 2017 Movement of cash and cash equivalents 75,252 Cash and cash equivalents at December 31 75,252

14 blad 11 van 20 4 NOTES TO THE FINANCIAL STATEMENTS GENERAL GENERAL ACCOUNTING PRINCIPLES FOR THE PREPARATION OF THE ANNUAL ACCOUNTS The annual accounts have been prepared in accordance with Title 9 Book 2 of the Dutch Civil Code. Valuation of assets and liabilities and determination of the result takes place under the historical cost convention. Unless presented otherwise at the relevant principle for the specific balance sheet item, assets and liabilities are presented at nominal value. Income and expenses are accounted for on accrual basis. Profit is only included when realized on the balance sheet date. Losses originating before the end of the financial year are taken into account if they have become known before preparation of the financial statements. Revenues from goods are recognised upon delivery. The cost price of thes goods is allocated to the same period. Revenues from services are recognised in proportion to the services rendered. The cost price of these services is allocated to the same period. PRINCIPLES OF VALUATION OF ASSETS AND LIABILITIES Cash and cash equivalents The cash is valued at face value. If cash equivalents are not freely disposable, then this has been taken into account in the valuation. Current liabilities On initial recognition current liabilities are recognised at fair value. After initial recognition current liabilities are recognised at the amortised cost price. When there are no premiums, discounts or transaction costs, the amortised cost is equal to the nominal value. PRINCIPLES FOR THE DETERMINATION OF THE RESULT General The result is defined as the difference between the revenue from goods delivered and services performed on one hand and, on the other hand, the costs and expenses for that year, valued at historical costs. Determination of the result The result is determined based upon the difference between the nett turnover and the costs and other expenses taking into account the aforementioned valuation principles.

15 blad 12 van 20 Nett turnover The nett turnover consists of revenue from the sale of goods during the reporting period after deducting discounts, rebates and value added taxes. Income from the sale of goods is accounted when the significant risks and rewards of ownership have been transferred to the buyer. The cost of these goods is accounted in the same period. Gross margin The gross operating profit and loss comprises nett turnover, the changes in inventories of finished goods and work in progress, work performed by the entity and capitalised, other operating income, cost price and cost of outsourced work and other external charges. Financial income and expenses Financial income and expenses comprise interest income and expenses for loans (issued and received) during the current reporting period.

16 blad 13 van 20 5 NOTES TO THE BALANCE SHEET AS OF DECEMBER 31, 2017 ASSETS CURRENT ASSETS 1. Cash and cash equivalents 12/31/2017 Rabobank 75,005 Cash ,252 EQUITY AND LIABILITIES 2. Equity Other reserves 74,042 Other reserves 74,042 Balance up to annual results 2017 Carrying amount as of September 12 - Allocation of financial year nett result 74,042 Carrying amount as of December 31 74, Current liabilities Trade creditors Other liabilities and Accruals and deferred income

17 blad 14 van 20 12/31/2017 Accruals and deferred income Administrative costs to pay 1,210

18 blad 15 van 20 6 NOTES TO THE PROFIT AND LOSS ACCOUNT 2016/ Nett turnover Emoluments of directors and supervisory directors Staff During the 2016/2017 financial year the company had no employees. 5. Other operating expenses Balance 2016/2017 Office expenses 1,236 Selling and distribution expenses 12,345 General expenses 5,728 Office expenses 19,309 Postage 1,236 Selling and distribution expenses Business gifts 12,345 General expenses Accounting costs 1,210 Legal charges 4, Financial income and expenses 5,728 Interest and similar expenses -148 Interest and similar expenses

19 blad 16 van 20 7 OTHER DISCLOSURE Appropriation of the profit for 2016/2017 The board of directors proposes to appropriate the profit for 2016/2017 as follows: Balance up to annual results 2017 Reduction other reserves 74,042 This proposal has been processed in the annual account in advance of the adoption by the General Meeting.

20 Ondertekening directie voor akkoord Rotterdam, May 16, 2018 Jinyan Bi (chairman) Huijing Li (treasurer) Pingping Zhao (secretary)

21 OTHER INFORMATION

22 , Rotterdam OTHER INFORMATION 1 Audit The union has not issued the instruction to perform an expert appraisal as indicated in Article 2:393 paragraph 1 of the Dutch Civil Code

PRIVIUM FUND MANAGEMENT B.V., AMSTERDAM. Annual Report 2013 April 30, 2014

PRIVIUM FUND MANAGEMENT B.V., AMSTERDAM Annual Report 2013 April 30, 2014 CONTENTS Page FINANCIAL REPORT 1 Audit 2 2 Appropriated results 3 3 Financial position 4 4 Tax position 5 1 ANNUAL REPORT OF THE