SELF-MANAGED INDEPENDENT SUPERANNUATION FUNDS ASSOCIATION ACN

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1 SELF-MANAGED INDEPENDENT SUPERANNUATION FUNDS ASSOCIATION FINANCIAL REPORT

2 CONTENTS Directors' Report Auditor's Independence Declaration Statement of Profit or Loss Statement of Comprehensive Income Statement of Financial Position Statement of Changes in Equity Statement of Cash Flows Notes to the Financial Statements Directors' Declaration Independent Auditor's Report Additional Information

3 DIRECTORS' REPORT Your directors present their report on the company for the financial year ended 30 June Directors The names of the directors in office at anytime during or since theendoftheyearare: Robert Jeremiah Andrew Cullinan Robert Stark Peter Rimmington Michael Lorimer Carmel Riordan Robert Shelton Nicholas Brookes Craig Fishburn (retired) John McIlroy (retired) Darren Kingdon (retired) Directors have been in office since the start of the financial yeartothedateofthisreport otherwise stated. unless Review of Operations The loss of the company for the financial year after providing forincometaxamountedto$8,942 (2013: profit of $249). A review of the operations of the company during the financial year and the results of those operations are as follows: The company continued to engage in its principal activity, the results of which are disclosed in the attached financial statements. Significant Changes in the State of Affairs No significant changes in the company's state of affairs occurred during the financial year. Principal Activities The principal activities of the company during the financial yearwere: To continue to build awareness among the general public of the benefitsofasmallindependent superannuation fund. The company has also been active in developing policies and providing information to the government and media on self-managed super. No significant change in the nature of these activities occurred during the financial year. Events Subsequent to the End of the Reporting Period No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company, the results of those operations, or the state of affairs of the company in future financial years.

4 DIRECTORS' REPORT Likely Developments and Expected Results of Operations Development and refinement of the services offered will continue to be the company's constant objectives. The directors have excluded from this report any further information on the likely developments in the operations of the company and the expected results of those operations in the future, since, in the directors opinion it would prejudice the interests of the company if this information were included. Environmental Regulation The company's operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory. Going Concern Notwithstanding the deficiency of net assets, the financial reporthasbeenpreparedonagoing concern basis as the directors have established a means of extending short-term credit to address current working capital issues, and are working to a plan to develop further income sources to restore the company's financial position. Dividends The company is limited by guarantee and has no share capital; accordingly the company is not able to pay dividends. Directors benefits Information on directors benefits is set out in the following note: Note 10: Related Party Information. No directors received any benefits other than expenses reimbursed in line with their activities as directors. Indemnification of Officers No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is or has been an officer or auditor of the company.

7 STATEMENT OF PROFIT OR LOSS Note $ $ Revenue 2 53,361 81,687 Gross profit 53,361 81,687 Other expenses from ordinary activities: (62,303) (81,458) Profit (loss) before income tax (8,942) 229 Income tax benefit (expense) 3-20 Profit (loss) for the year (8,942) 249 Profit (loss) attributable to members of the company (8,942) 249 The accompanying notes form part of these financial statements.

8 STATEMENT OF COMPREHENSIVE INCOME Note $ $ Profit (loss) for the year (8,942) 249 Other comprehensive income: Total other comprehensive income for the year - - Total comprehensive income (expense) for the year (8,942) 249 Total comprehensive income (expense) attributable to members of the company (8,942) 249 The accompanying notes form part of these financial statements.

9 ASSETS STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2014 Note $ $ CURRENT ASSETS Cash and cash equivalents 5 9,683 11,878 Trade and other receivables 6 2, Other assets TOTAL CURRENT ASSETS 13,259 12,627 TOTAL ASSETS 13,259 12,627 LIABILITIES CURRENT LIABILITIES Trade and other payables 8 7,701 8,105 Other 9 9,978 - TOTAL CURRENT LIABILITIES 17,679 8,105 TOTAL LIABILITIES 17,679 8,105 NET ASSETS (LIABILITIES) (4,420) 4,522 EQUITY Retained earnings (accumulated losses) (4,420) 4,522 TOTAL EQUITY (DEFICIT) (4,420) 4,522 The accompanying notes form part of these financial statements.

10 STATEMENT OF CHANGES IN EQUITY Retained Earnings Total $ $ Balance at 1 July ,273 4,273 Comprehensive income Profit for the year Total comprehensive income for the year attributable to members of the company Balance at 30 June ,522 4,522 Balance at 1 July ,522 4,522 Comprehensive income Profit (loss) for the year (8,942) (8,941) Total comprehensive income for the year attributable to members of the company (8,942) (8,941) Balance at 30 June 2014 (4,420) (4,419) The accompanying notes form part of these financial statements.

11 STATEMENT OF CASH FLOWS Note $ $ Cash flows from operating activities Members income and subscriptions received 60,422 81,772 Interest received Payments to suppliers (62,763) (78,374) Company tax refunded/(paid) Net cash provided by (used in) operating activities 13 (2,195) 3,808 Net increase (decrease) in cash held (2,195) 3,808 Cash and cash equivalents at beginning of financial year 11,878 8,070 Cash and cash equivalents at end of financial year 5 9,683 11,878 The accompanying notes form part of these financial statements.

12 NOTES TO THE FINANCIAL STATEMENTS The financial statements cover Self-Managed Independent Superannuation Funds Association as an individual entity. Self-Managed Independent Superannuation Funds Association is a company limited by guarantee, incorporated and domiciled in Australia. 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements of the Accounting Standards Board and the Corporations Act The entity is a not for-profit entity for financial reporting purposes under Australian Accounting Standards. The financial statements, except for cash flow information, havebeenpreparedonanaccruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial statements have been rounded to the nearest dollar. (a) Income Tax The company adopts the liability method of tax-effect accounting whereby the income tax expense is based on the profit from ordinary tax activities adjusted for any permanent differences. (b) Trade and Other Receivables Trade and other receivables include amounts due from customers for goods sold and services performed in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets. (c) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held atcallwithbanks,othershortterm highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position. (d) Revenue and Other Income Revenue from the rendering of a service is recognised upon the deliveryoftheservicetothe customers. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets.

13 NOTES TO THE FINANCIAL STATEMENTS All revenue is stated net of the amount of goods and services tax (GST). Other revenue is recognised when the right to receive the revenue has been established. (e) Trade and Other Payables Trade and other payables represent the liabilities for goods and services received by the company that remain unpaid at the end of the reporting period. Thebalanceisrecognisedasa current liability with the amounts normally paid within 30 days of recognition of the liability. (f) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian TaxationOffice(ATO). Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the statement of financial position. Cash flows are presented on a gross basis. The GST component of cashflowsarisingfrom investing or financing activities which are recoverable from, or payable to, the ATO are presented as operating cash flows included in receipts from customers or payments to suppliers. (g) Going Concern Notwithstanding the deficiency of net assets, the financial reporthasbeenpreparedonagoing concern basis as the directors have established a means of extending short-term credit to address current working capital issues, and are working to a plan to develop further income sources to restore the company's financial position. (h) New Accounting Standards for Application in Future Periods Adoption of New Australian Accounting Standard Requirements No accounting standard has been adopted earlier than the application date as stated in the standard. All new or revised standards and interpretations issued prior to the signing of the Statement by the Board that were applicable to the current reporting period had no material financial impact on the company, and are not expected to have afuturefinancialimpact. Future Australian Accounting Standard Requirements All new or revised standards and interpretations that were issued by the Australian Accounting Standards Board prior to the signing of the Statement by the Board are not expected to have a financial impact on the company for future reporting periods.

14 NOTES TO THE FINANCIAL STATEMENTS 2. REVENUE AND OTHER INCOME Revenue $ $ Interest received 2(a) Membership subscriptions 39,530 40,285 SMSF Forum 13,691 41,005 Other income 14 7 Total Revenue 53,361 81,687 (a) Interest received from: Other corporations INCOME TAX EXPENSE (a) The components of tax expense comprise: Current tax - 20 (b) The prima facie tax payable on profit (loss) before income tax is reconciled to the income tax as follows: Prima facie tax payable on profit (loss) before income tax at 30% (2013: 30%) - 69 Add tax effect of: Over/(under) provision in prior year Less tax effect of: Losses of the prior year - 69 Income tax expense attributable to entity AUDITOR'S REMUNERATION Auditing or reviewing the financial report 2,000 1, CASH AND CASH EQUIVALENTS Westpac 8,072 2,479 Macquarie CMT 1,611 9,399 9,683 11,878

15 NOTES TO THE FINANCIAL STATEMENTS 6. TRADE AND OTHER RECEIVABLES $ $ CURRENT Receivables 2,790 - Company tax refundable , OTHER ASSETS CURRENT Prepaid expenses TRADE AND OTHER PAYABLES CURRENT Accounts payable 6,547 8,065 Audit fees payable 2,000 2,000 GST payable (846) (1,960) 7,701 8, OTHER LIABILITIES CURRENT Memberships received in advance 9, RELATED PARTY TRANSACTIONS Transactions with related parties Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated. i The following transactions occurred with related parties: Administration and accountancy services During the year a company controlled by J McIlroy and his wife was paid the following amount for services (including GST). 37,083 48,375

16 11. COMPANY DETAILS NOTES TO THE FINANCIAL STATEMENTS The registered office of the company is: Self-Managed Independent Superannuation Funds Association Level 1, 1 Chifley Square Sydney NSW $ $ 12. MEMBERS LIABILITY - COMPANY LIMITED BY GUARANTEE The liability of members is limited. The amount guaranteed by membersisnotrequiredtobe contributed until the winding up of the company. If the company was wound up and its assets were insufficient to meet its liabilities, the members would be liable to pay $100 each in accordance with the provision of the Memorandum of Association. 13. CASH FLOW INFORMATION (a) Reconciliation of cash flow from operations with profit after income tax Profit after income tax (8,942) 249 Changes in Assets & Liabilities: Decrease / (increase) in receivables and prepayment (2,826) 474 (Decrease) / increase in payables (404) 3,085 (Decrease) / increase in other current liabilities 9,977 - Net cash provided by (used in) operating activities (2,195) 3,808

21 PROFIT AND LOSS STATEMENT $ $ INCOME Interest received Other income 14 7 Membership subscriptions 39,530 40,285 SMSF Forum 13,691 41,005 53,361 81,687 LESS EXPENDITURE Tax Agent Fees 91 - Marketing Auditors' remuneration 2,001 1,800 Bank charges 1,260 1,297 SMSF Forum 12,152 34,200 Consulting services 42,303 39,450 Directors' reimbursable expenses - 1,026 Filing fees Fine 72 - Insurance 1,829 1,739 Postage Printing and stationery Web Site Development/Management Travelling expenses ,303 81,458 (8,942) 229 NET OPERATING PROFIT (LOSS) BEFORE INCOME TAX (8,942) 229 Income Tax - (20) NET OPERATING PROFIT (LOSS) AFTER INCOME TAX (8,942) 248 Retained Profits at the beginning of the financial year 4,522 4,274 TOTAL AVAILABLE FOR APPROPRIATION (DEFICIT) (4,420) 4,522 RETAINED PROFITS (ACCUMULATED LOSSES) AT THE END OF THE FINANCIAL YEAR (4,420) 4,522 These financial statements should be read in conjunction with the attached disclaimer.

REVETEC HOLDINGS LIMITED FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

REVETEC HOLDINGS LIMITED FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2012 FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2012 Liability limited by a scheme approved under Professional Standards Legislation CONTENTS Director's Report 1 Statement of Comprehensive Income 3 Statement