University of South Australia ACG27 Annual Report: Evoque Pty Ltd

This document is an annual report for Evoque Pty Ltd, prepared for the ACG27 course at the University of South Australia. The report includes a statement of profit or loss and other comprehensive income, a statement of financial position, and notes to the financial statements. It also contains a director's declaration, an annual directors report, and an annual auditors report. The financial statements present the company's performance for the year ended 30 June 2018, with comparative figures for the previous year where applicable. Key financial data includes revenue, cost of sales, profit, assets, liabilities, and equity. The report also details significant accounting policies and provides insights into the company's operations, including revenue sources, expenses, and financial position. The directors' report provides information on dividends, transfers to reserves, and bonus shares. The auditor's report provides an independent opinion on the fairness of the financial statements. References for the report are also included.

UNIVERSITY OF SOUTH AUSTRALIA
Cover Sheet Annual Report Assignment– FA2- ACG 27
An Assignment Cover Sheet needs to be included at the front of each assignment submitted.
If this assignment has been prepared in a group only 1 group member is to submit this.
Student Family name First name UniSA email user name
1. Lazo
Karla [e-mail]
2.
3.
Statement on Use of Draft Feedback
You must include a brief statement in the section below (100 word limit) in your own words on how you have
used the feedback provided in relation to the draft submissions. If you do not include this penalties will be
applied. Note: You need to complete this statement on use of draft feedback even if you did not submit a draft.
Please refer to Assignment Instructions for further information about this statement.
For my draft copy I applied a comparative column for the statement of changes in equity. However, the
feedback relating to comparative information/columns suggests applying this only to the statement of
financial position and statement of profit or loss and other comprehensive income, so in my final assignment I
did not apply it to the statement of changes in equity.
OFFICE USE ONLY
Assessed by: Mark: /100

3
Evoque Pty Ltd
ABN 12 345 678 910
ANNUAL REPORT
For the year ended 30 June 2018
Prepared by
Karla Lazo
PO Box 1690
SUNNYBANK HILLS QLD 4109

4
Evoque Pty Ltd
ABN 12 345 678 910
ANNUAL REPORT
Contents
Page
Income Statement 5
Balance Sheet 6
Notes To Financial Statement 7
Directors Declaration 9
Annual Directors Report 10
Annual Auditors Report 11
References 12

5
Evoque Pty Ltd
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 30 June 2018
2018 2017
Notes $M $M
REVENUE AND OTHER INCOME
Revenue 85,417 0
Cost of sales (53,210) 0
Gross profit 32,207 0
Services Revenue 32,305 0
Other Revenues 1 6,616 0
Selling costs 2 (4,448) 0
Administration costs 3 (34,958) 0
Other expenses 4 (13,573) 0
Finance costs 5 (166) 0
Profit before income tax 17,983 0
Income tax expense (5,395) 0
Profit for the period 12,588 0

6
Evoque Pty Ltd
Statement of Financial Position
As at 30 June 2018
2018 2017
Notes $M $M
CURRENT ASSETS
Cash and Cash Equivalents 2,320 0
Receivables 6 11,049 0
Inventories 7 3,640 0
Other financial assets 8 1,020 0
Total current assets 18,029 0
NON-CURRENT ASSETS
Property, Plant & Equipment 9 31,660 0
Total non-current assets 31,660 0
Total assets 49,689 0
CURRENT LIABILITIES
Payables 3,275 0
Revenue received in advanced 2,786 0
Provisions 10 7,100 0
Total current liabilities 13,161 0
NON-CURRENT LIABILITIES
Provisions 10(a) 253 0
Total non-current liabilities 253 0
Total Liabilities 13,414 0
Net assets 36,275 0
EQUITY
Issued Capital 13,088 0
Reserves 200 0
Retained Earnings 22,987
Total Equity 36,275 0

7
Evoque Pty Ltd
NOTES TO THE FINANCIAL STATEMENTS
For the Year ended 30 June 2018
NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
This financial report is a special purpose report prepared for use by directors and members of the company.
The financial report has been prepared in accordance with the requirements of the Australian Accounting
Standards.
The following specific accounting policies, which are consistent with the previous period unless otherwise
stated, have been adopted in the preparation of this report.
b. Property, Plant and Equipment
Property, plant and equipment are carried at cost, independent or directors' valuation. All assets, excluding
freehold land and buildings, are depreciated over their useful lives to the company.
c. Inventories
Inventories are measured at the lower of cost and net realisable value. Costs are assigned on a first-in first-
out basis and include direct materials, direct labour and an appropriate proportion of variable and fixed
overhead expenses.
NOTE 2: Other Revenues & Income AASB 101, paragraph 122
Car Parking Revenue 484
Gain on Sale of NCA - Land 6,298
Loss on Sale of NCA - Shop Fittings (166)
Total 6,616
NOTE 3: Selling Costs AASB 101, paragraph 99
Advertising & Marketing 2,460
Warranties Expense 1,988
Total 4,448
NOTE 4: Administration Costs AASB 101, paragraph 99
General Operating Costs 11,230
Insurance 910
Salaries & Wages 21,120
Annual leave expense 1,698
Total 34,958
NOTE 5: Other Expenses AASB 101, paragraph 82A
Depreciation - Buildings 2,728

8
Depreciation - Furniture & Fittings 2,980
Doubtful Debts Expense 980
Auditors Expense 950
Miscellaneous (Inc $820 gift) 1
Extra Ordinary Expenses 895
Total 8,534
NOTE 6: Finance Costs AASB 101, paragraph 82
Interest Expense 165
Early Repayment Fee 1
Total 166
NOTE 7: Receivables AASB 101, paragraph 125
Accounts Receivable 11,320
Allowance for doubtful debts (271)
11,049
NOTE 8: Inventories
Measured at lower of cost or net realisable
value
NOTE 9: Other Financial Assets AASB 101, paragraph 82
Deposit for Purchases 600
Prepaid Insurance 420
1,020
NOTE 10: Property Plant & Equipment AASB 116, paragraph 7
Land 9,470
Buildings (at cost net of depreciation) 15,410
Furnitures & Fittings (at cost net of
depreciation) 6,780
31,660
NOTE 11: Provisions AASB 112, paragraph 47
Current
Provision for Warranties 758
Provision for new application 250
Provision for annual leave 697
Provision for Tax 5,395
7,100
NOTE
11(a): Non-Current AASB 137, paragraph 61
Provision for Warranties 253

9
253
Evoque Pty Ltd
ABN 12 345 678 910
DIRECTOR'S DECLARATION
The directors have determined that the company is not a reporting entity. The directors have determined
that this special purpose financial report should be prepared in accordance with the accounting policies
outlined in Note 1 to the financial statements.
The directors of the company declare that:
1. The financial statements and notes attached present fairly the company's financial position as at
30/06/2018 and its performance for the year ended on that date in accordance with the accounting policies
described in Note 1 to the financial statements;
2. In the director's opinion there are reasonable grounds to believe that the company will be able to pay its
debts as and when they become due and payable.
This declaration is made in accordance with a director resolution:
Directors: ________________________
Ms Anna Smith
Mr David Jones
Dated: 29/01/2019

10
Evoque Pty Ltd
ABN 12 345 678 910
Annual Directors Report
for the Year Ended 30 June 2018
Your directors present this report on the company for the financial year ended 30 June 2018
Directors
The names of the directors in office at any time during or since the end of the year is:
Ms Anna Smith
Mr David Jones
The Directors been in office since the start of the financial year to the date of this report unless otherwise stated.
All the information of dividend to the shareholders, interest to debtors etc. are recorded in this report. It also includes
other information such as salaries to the top executives and declared payment to the members of the organisation
(Coombs and et. al., 2013). It is not necessary that the payments are made they can be proposed in the financial
year. It also includes the name of directors of the company and the appropriate information of that the organisation
is registered or not. Information of that period for which individuals worked as executives is also covered in this
report. Detailed information of them is not required to be included in it as it is not necessary (Coombs and et. al.,
2013).
In Evoque Pty Ltd directors have declared a dividend on 7% on each share on 30 June 2018. It will be distributed
from retained earnings of the organisation. They have also decided to transfer 3,300,000 from preserved incomes
to general reserves so that it n ca be used for operational activities of the organisation. A declaration regarding
interim dividend is also made by the organisation in which it is proposed that one bonus share of 3 dollars each is
going to be issued to the shareholders on 50 shares. All of them are going to be issues from general reserve of the
organisation. This decision is made by them on 15 January 2018.
A major change was made in the equities as directors planned to transfer 3,300,000 to the general reserve which is
going to be deducted from retained earnings. As it is a part of internal funds hence it will be considered as change
in equity. The organisation has ignored the tax effect accounting and no expenses related to it, are recorded in the
books. Directors have planned to enhance shareholder's investment by offering them bonus shares so that they can
invest more money. It will be beneficial for the better execution of business activities (Bradbury, 2008).
All the above described information is accurate in the opinion of the directors of Evoque Pty Ltd it can help the
stakeholders to determine possible returns that can be acquired by them in future on their investments by assessing
current year's rates (Haswell and Langfield‐Smith, 2008). The recorded data is accurate, and this report will be added
to the annual report of the company.
Signed in accordance with a resolution of the Director:
Ms Anna Smith
Mr David Jones
Dated this 29th day of January 2019.

11
Evoque Pty Ltd
ABN 12 345 678 910
Annual Auditors Report
for the Year Ended 30 June 2018
This report is generated by the auditors of the company in which their opinion about organisation's actual
performance and position is recorded. It helps the internal and external stakeholders to determine that
organisation is performing well or not. Information regarding materiality is also covered in this report in
which it is mentioned that any important data is kept hidden by the enterprise or not (Dean and Clarke,
2005). Auditors create a report and present it to the directors so that they can analyse it and assess
whether any fraud or error is made by managers, employees or accountants of the company in the report
(Haswell and Langfield Smith, 2008).‐
Auditors declare that accountants of the company have followed appropriate accounting standards and
principles. This report helps the external stakeholders to determine that a true and fair view of final
accounts is presented by the entity or not (Dean and Clarke, 2005). It is also advantageous for internal
stakeholders such as managers, top management and executives as it can guide them to analyse that
accurate and appropriate data is recorded by the employees in the books of accounting or not (Coombs
and et. al., 2013).
The auditors have analysed the financial reports of Evoque Pty Ltd and analysed that organisation is
following section 296 and 297 (Dean and Clarke, 2005). All the information which is recorded by
accountants and employees of the company were appropriate and accurate. In the opinion of them as the
business entity is generating profits of 230,302 dollars which is higher amount hence financial position of
the enterprise if very good (Coombs and et. al., 2013). It is providing good benefits to the shareholders
including bonus shares and dividends.
Total revenues of the company were 115,420 and other gains were resulting in higher profitability. No
materiality information is figured out by auditors in the financial statements of Evoque Pty Ltd.
Correctness and adequacy level of the discloser level of the final accounts is very high.
By:
Mr John Numbers
UNIQUE AUDITORS
Partner
CPA Cert. No 1234
Dated this 5th day of January 2019.

12
REFERENCES
Book and Journals:
Dean, G. and Clarke, F., 2005. ‘True and Fair’and ‘Fair Value’—Accounting and Legal Will‐
o’‐the‐Wisps. Abacus. 41(2) pp.i-viii.
Haswell, S. and Langfield‐Smith, I., 2008. Fifty‐Seven Serious Defects in ‘Australian’IFRS.
Australian Accounting Review. 18(1) pp.46-62.
Bradbury, M.E., 2008. Fifty‐seven Curious Defects in Haswell and Langfield‐Smith (2008): A
Comment. Australian Accounting Review. 18(4) pp.287-293.
Coombs, G.W. and et. al., 2013. Australian group on antimicrobial resistance hospital-onset
Staphylococcus aureus surveillance programme annual report, 2011. Communicable diseases
intelligence quarterly report. 37(3) pp. E210-E218.