ANNUAL REPORT 2016
WEARE.COLOSOUL.COM.AU
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L.I .C. K
CONTENTS Executive Summary
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Our Ambassadors
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Mentorship Programs
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Colosoul Café
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Colosoul Events
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Colosoul Departments
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Colosoul’s Social Enterprises
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Colosoul’s Publications
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Testimonials
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Organisational Structure Chart
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Financial Performance Overview 2016-2017
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Audit Report
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EXECUTIVE SUMMARY The Colosoul Group Inc has had a restless yet legacy-defining year saying farewell to our Barrack Street home, staying at the library for four months then finally moving into our new creative hub at 241 Hay Street, Subiaco.
During this time, we have had a shakeup of our
space takes Colosoul to another professional
volunteer base, but in the process created an
level where team leaders can invite clients and
even more valuable and committed team of
potential sponsors into our world knowing they
volunteers ready to ride this new wave with
are empowered in their role.
us. Considering this, we would like to extend
we realised that an environment can have an
our thanks to our board members, members,
immense impact on a young person’s perspective
sponsors, mentors and staff, for always staying
to think and work creatively, it can sometimes
motivated and being more driven than ever to
even be the mental block that diminishes the
achieve our goals as an organisation.
drive within them. This is why it was important
When moving
to find a space where Colosoul could emerge Thank you to our major sponsor World Wide
as hub of bubbling creativity and passion that
Printing Solutions, Arnold Whiteside who has
could be an inspiration to our entrepreneur’s
been especially kind in supporting our vision
who are trying to grow through team leadership,
since the beginning. With his support we have
innovation and successful portfolios.
been able to strengthen our presence and cement our place as a beacon for youth. Thank
We are proud and ready to grow our financial
you to Rise Solutions, Dom Papluca for helping
marketing plan as we are have worked hard to
to keep our books up to date and for being
create strong and valuable mentorship programs
supportive with our vision to grow financially.
and have strived as an organisation to implement successful structures. This has been done by
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The new Subiaco HQ enables Colosoul to
having in-house processes which are monitored
extend its borders and give each in-house social
by the HR team to ensure better volunteer work
enterprise a space to explore their creative goals
ethic and engagement. We feel we are able to
and work towards establishing their entities. This
proudly present to the business and corporate
Deputy Lord Mayor James Limnios with Tricia Ray and Colosoul Volunteers at Colosoul.
sector, knowing that the money they generously
industry leaders such as WAM, Fringe and the
donate is being utilised correctly and efficiently.
WA Art Gallery. We hope that this year is our biggest and can put us on the map for young
Recently we have had many politicians including;
people all over Perth to flock too.
Minister for Youth’s Sue Ellery’s Advisers, Shadow Minister for Education and Training and Women’s Interests, Donna Faragher, The Deputy
Tricia Ray - CEO
Lord Mayor James Limnios of Perth, Shadow
Katelyn Kitching - General Manager
Minister for Child Protection, Nick Goiran and the Mayor of Subiaco Heather Henderson, who have visited our space and met some of our passionate volunteers. They have all been very inspired and supportive of our vision for the future. In fact, some are already booking a table for our Colosoul Charity Ball next year, which is on May 19th 2018. Our business network is also strengthening via our mentorship programs and business ventures within our graphic design social enterprise, POP Creative. Colosoul is a thriving creative force and is beginning to make our name as a professional and proficient member of the arts/commerce community, collaborating equally with local
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OUR AMBASSADORS SARAH DANZE Throughout my time as Colosoul, I mentored the
people to realise their own potential whilst building up
young people involved and was able to share my
skills that will help them to be successful. If I had this
experience with them. I was asked to be their
opportunity to be involved in something so amazing
Ambassador - which was such a natural fit for me and
when I was younger, I honestly believe it would of helped
easy to walk right into. I could see the absolute value
me get my foot into the industry door so much sooner.
for hands on experience and mentoring, as I know how
Wow, thanks Tricia for creating such an innovative,
difficult this industry is to get into. During my time at
empowering, positive and creative environment for
Colosoul I have seen many young people transform
young people to be actively involved in.
into confident and passionate workers, it’s amazing to see the impact that Tricia is having on them. Colosoul helps to set up those coming on board trying to break into the arts and media industry and exposes them to opportunities, which would not be available without their mentorship programs they have available. As a volunteer organisation it is really amazing to see so many young people coming together as a part of an arts community that allows these young
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KATE SMITHERS Kate Smithers is a news reporter for Channel 7 and recently MC’d for our Charity Ball this year. Here’s why Kate decided to get involved with Colosoul: “I am passionate about anything that encourages, drives and gives confidence to youth. The fact it partners with mental illness in young adults was also a positive for me. Mental illness affects so many people these days - just looking at my circle of friends and family, I know of so many of them that have dealt with anxiety or depression over the time I have known them. It is so important to recognise this early on - and especially with young adults - do something it about it sooner. Whether that be talking to someone, getting involved in a group, building up confidence, exercise and friendships. Colosoul offers all of these things to young people”
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MENTORSHIP PROGRAMS
L.I.C.K
colosoul mentorship program
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The L.I.C.K (Learn, Innovate, Colosoul, Kickstart) program is a mentorship program designed specifically for 18-25 year olds with a goal to study, who are currently studying or who have graduated and are struggling to secure a job in their desired field. Unfortunately, it is a reality for many recent graduates that their chances of finding a job in the field they have worked tirelessly to understand and engage with, are low. Employers are not only looking for passion, but real world experience in the desired field before even considering an applicant. Thus, the vast majority of volunteers at Colosoul are classified as L.I.C.K volunteers. One thing the L.I.C.K program has improved on is its mentorship database with having Greg Rogers from ReThink do several successful team leader workshops and Cat Pazvakavambwa giving the accounts team much needed accounting advice. This has seen our team leader’s more motivated then ever before, resulting in our mentors being more passionate to give back. Often, as a young person tries to find a job in their chosen field of study they realise that opportunities are extremely limited due to their lack of experience. This often disheartening process can dampen their drive sometimes causing them to develop signs of distress, low selfesteem and even depression. The L.I.C.K. program is designed to give the mentee as much practical hands-on experience in their chosen field as possible, to greatly increase their skills and self worth thus their prospect of future employment. Our program enables young people to show innovation and set realistic goals for their future whilst being mentored at industry standard by people they can relate to. Most importantly it allows creatives to meet like minded people and foster relationships they can hopefully continue in their professional futures.
TESTIMONIAL Graduating from university is a memorable point in a young adult’s life, as it is the time to utilise the degree you worked so hard on to start the career you have always dreamed of. However, most of the time it’s not that easy. When I applied to volunteer at Colosoul I was a discouraged commerce graduate just coming off a long chain of failed job applications with an overwhelming sense of career uncertainty looming over me. With resume building and a curiosity for Human Resources in mind, I secured a position as a HR Assistant at Colosoul and I am now immersed in valuable practical work experience. Every shift I conduct interviews with potential volunteers, holding engaging induction sessions and support the rest of the organisation through maintaining processes and systems. My time at Colosoul so far has provided me with so much beneficial and relevant experience that I will be able to call upon when I apply for jobs in the future. Colosoul has pushed me to grow and develop in the areas of communication, accountability and leadership which is something I am truly grateful for. Reece (HR Team Leader), 22 years old.
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The G.A.P (Got Absolute Potential) Program is an intensive and hands-on mentoring program created for youth aged 13 to 18 who are struggling within the traditional schooling system. Often traditional education can be disrupted by a combination of factors such as disengagement from the community, family instability, mental health or learning difficulties. Also, some students’ potential is simply overlooked by standard teaching practices such as KINTAC (kinesthetic-tactile) learners who prefer and learn more effectively by “doing” rather than learning information through traditional channels. Our program welcomes youths from all racial, cultural, religious, education and identity backgrounds, with an open mind. We strive to assist and facilitate youth’s re-engagement into society, and encourage their development of positive self-esteem by recognising and growing their own unique strengths and talents. Here at G.A.P, we believe that celebration of diversity and the uniqueness of an individual is essential for the personal happiness and success of today’s youth, collectively contributing to the wellbeing of the wider community.
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Through our tailored program we strive to help the participant understand more about themselves and how they can turn their strengths into personal success in a safe and constructive environment. Too often teens who do not conform to standardised schooling fly under the radar and need assistance realising their own self-worth and ability to innovate. By personally getting to know the students and working with them one-on-one we can help them not only make goals for themselves but support them to achieve those goals. Helping one to realise that their full potential starts with understanding their abilities is the first step to enhance their skill development. As within our community, many youths whom are experiencing difficulties with the formal schooling system are also lacking positive role models and mentors to guide them along their chosen path. Colosoul is about creating a community and once these youths enter our space we are prepared, willing and passionate to help them see and achieve their potential.
TESTIMONIAL All I wanted to do when I heard about Colosoul was graffiti. I was from a bit of a tough background and I had no other passions in life. At 17 I entered the doors of Colosoul. The CEO said she would find me a wall to paint so I thought why not join this creative group. I was given a mentor who was putting T-shirts together and I was asked to help with some of the designs. I was put into a graphic design team and was mentored for the next 6 months. It was awesome, I loved going to Colosoul, I found something that took my interest. What do I do now, I don’t do graphics, I decided that I had enough confidence to apply for Uni and I got in to study science. Thanks Colosoul for helping me to find what I am passionate about.
ACAS ACAS is a program run through Colosoul which stands for ‘The Australian Centre for Advanced Studies’ ; this is a registered training organisation which operates in Western Australia. ACAS is accredited and provides youths with a practical learning experience at a lower cost than other providers. This program is popular among youths whom are not interested in completing studies at TAFE but wish to gain a qualification. Volunteers work towards gaining qualifications through the work they complete here at Colosoul within a given time frame. These volunteers are closely monitored by the project manager and their
Steve, 18.
relevant team leader, progress is therefore recorded to ensure that volunteers are completing the appropriate tasks. The two courses that can be completed through Colosoul are Event Management and Small Business Planning. Upon completion, ACAS volunteers will have gained practical work experience, be well equipped for the workplace and thus more likely to gain employment. For more information please visit: www.acas.edu.au/
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MOORDIJTI PROGRAM The Moorditji mentoring program is a sub program off the G.A.P program focused on the empowerment of Indigenous youth and reconciliation. Colosoul is planning that the program will be tailored for each individual and facilitated by the embracement of the Whadjuk Nyoongar culture. The program will be mentored on a case by case basis to ensure
that the participants that will be coming through have the best platform to understand one’s self and how they would fit into their chosen field. We understand the hardships of finding a career in the media and arts, that is why; we hope with our guidance we are able to strengthen their passion to want to stay on track, finish secondary schooling and think towards the future plans.
REFUGEE PROGRAM The Refugee Program is a new initiative created under the Colosoul banner, This Program is targeted to young refugee’s between 13 to 25 years old. The Colosoul group has a heart to reach the unreached and offer pathways to a board spectrum of creative filed. We are currently setting up a plan to offer sewing, hairdressing, barista and creative writing, to the young refugees coming through this program. We can see the potential for this program as migrants
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can not work for 3 years once based here, but they can volunteer. We believe that everyone deserves a second chance at life, and with this program they can develop their skills, and build friendships as well as a sense of community that will encourage and support them to create an amazing portfolio by the end of that 3 years.
KICKSTARTER PROGRAM The Colosoul Kickstarter Business program is for brand new start-ups, that are in need of support to get off the ground in order for their business to make it. The program is for grass root ideas that are in need for someone to support them in the first years of the growth of their business. Colosoul gives mentoring on business plans, marketing and accounting to ensure that your business
will be successful in its first years of opening. The Kickstarter business program is for young people that have an interest and a plan that they would like to get off the ground, but don’t have the space or the resources too. We can help you effectively design and market your business and equip you with the skills you will need to be successfully ready for the constant change of the business world.
THE HAM HUB (KICKSTARTER ENTERPRISE) The HAM Hub (formerly Ham Studios) has been part of a business relationship with Colosoul since mid 2015. We’re proud to say its been a great experience and working within the Colosoul Group has given us some pretty amazing opportunities that we wouldn’t have had the chance to follow elsewhere; the best of which has been being able to setup our business in the centre of a dynamic and vibrant creative community. There aren’t many areas where you can go from working on an album and talk to a friend in a photography studio or a colleague working on a piece of film while on the way to getting a coffee. Calvin and James, Ham Hub owners.
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COLOSOUL CAFÉ Construction of the Colosoul Café started on the 29th of April and is progressing.
PURPOSE OF THE CAFÉ
COFFEE BAR CONCEPT
The Colosoul Cafe will be a small scale NFP coffee bar giving back to the local community by mentoring youths in barista business skill development, client service, and finance management. This is a fantastic opportunity to open up the doorway into the real word of business for young people wanting to improve or learn a new skill.
The Colosoul Cafe will be a small-scale coffeebar that is intimate in nature and is purely focused on the coffee and beverages served. This will allow a steady start - up and potential to expand into the future. Therefore, limited food items will be available each day, kitchen operation will be minimal and operating hours will be niche rather than a stock-standard food business.
The initiative of this cafe paves a way for young people that otherwise may not be possible. The cafe creates community, positive friendships, and a professional learning environment.
Having a more smaller and slower operation will allow time to learn and perfect the café and build up a clientele with the Colosoul mentoring vision backing them.
With the decline of school attendance, we hope this is a another avenue for young people to actively participate and grow in self-confidence.
Coinciding with the set up of a small-scale coffee-bar the area will offer customers a “coffee-orientated” and relaxing environment for the perfect “pick-me up”. If we continue our progress, the café is expected to be functional by September.
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Marketing (SWOT ANALAYSIS)
Strengths
Weaknesses
Opportunities
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Colosoul’s determination
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Commercial rent of location
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Build brand equity
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Cafe with a cause – unique concept
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Established competitors
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Proximity to landmarks
Internal promotion
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Starting costs
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Increase Colosoul’s awareness
Threats •
Ongoing renewal costs
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Reliance on foot traffic
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Legislations
Sponsorships & Donations We are still seeking donations from various commercial businesses - including a potential sponsor from Perth Airport to donate cafe and kitchen appliances. Our application for the Coca Cola Foundation Employee Connect $25,000 Grant was denied due to not having DGR status.
customers and Colosoul staff to share their photos, tag the Café or share our posts and offer incentives to encourage UGC. •
official opening of the new Colosoul offices.
Goals and Objectives •
Gain supplies and equipment through donations and sponsors
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Open and establish the Colosoul Café
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Mentor and train youths in business development.
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Profitable avenue for the Colosoul Group Inc.
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Hire a full-time manager / assistant for the Colosoul Café
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Word of mouth - Using internal
Promotion - Promotional material of the Colosoul Café across Colosoul publications. (Including sponsored content articles, visuals and event information); Utilising social media networks: Creating promotional materials to distribute throughout Subiaco.
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This requires a large emphasis on liaison with other Colosoul departments for set
Strategy •
Event - Celebratory event to mark the
up. •
We are working on improving ties to reach
stakeholders to spread the word of the
out to our secure sponsors more often to
café to the wider public.
maintain relationships.
User Generated Content - Encourage
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COLOSOUL EVENTS The Colosoul events department continues to run its yearly events to promote Colosoul and help bring awareness and a voice to those less fortunate with the local community and overseas aid. The events department is again about allowing young people to grow in self-confidence and find their feet in a very demanding job. This is fantastic hands on experience which is rarely given. The events department is working harder than ever to ensure all events are running smoothly and that there is a clear understanding among volunteers on how to create a relationship and how to maintain it with potential sponsors and the community. The events department are making sure they stay relevant amongst stakeholders by having events that are mutually beneficial to both parties. Making sure we are showing consistency in posts to increase our following for brand awareness and growth of attendees at our events. This year we have decided to add two new initiatives to our calendar, Quiz nights and Colosoul-Con (previously known as our film festival – ‘Shorts’, this brings our events to 12 events a year. All our events bring awareness about an important social issues such as: humanitarian, environmental and animal protection. The events are another way to be further involved within our local community supporting others where we can. Our events are a platform to launch Western Australian youths who want to showcase their films, fashion, music, photography, design and artwork to an audience that they may never have the opportunity to expose themselves too. We encourage local businesses to support our events - by giving in sponsorship, donation of goods, participating and by attending the events.
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We also want to turn our events department into a part social enterprise where we can cater for outside events. We are very good at putting events together and this is way of raising funds for this department. Our Goals for 2017 events are: 1. Create and maintain sustainable stakeholder relationships 2. Community engagement 3. Increase physical and digital engagement. Dig - 30% by the end of 2017 and Physical 20% by the end of 2017 4. Partnering with community events to increase brand awareness. 5. Make Colosoul events t-shirts (logo present at all partnered events) 6. Support large related events (writers festival) (WAM events) (Fringe) (PFF) (animal rights events) (Council Street Parties) which sees large foot traffic - increase brand awareness through effective community engagement. 7. Have professional content to attract entities within the events industry or corporate partners by providing quality content on social media (Facebook, twitter, Instagram and LinkedIn.
OUR EVENTS YOUNG PEOPLE AND THE ARTS CHARITY GALA A new event for Colosoul, inviting corporate businesses and companies to experience how Colosoul is making a positive contribution to the community and engaging young people. The event engages guests in local fashion, fine arts and music to provide an insight into Perth’s emerging and developing talent. This is a fantastic way to showcase what the Colosoul group does and how it supports youths through its mentorship programs L.I.C.K and G.A.P. The event raises awareness for Colosoul’s mentorship programs and ongoing needs, $10 from every ticket goes towards the charities which Colosoul supports including Esther Foundation, Fair Tradies Project, Help Save the Kids, Princess Margaret Hospital Burns Unit, World Wildlife Foundation and Childwise.
QUIZ NIGHTS Colosoul has three quiz nights a year, each quiz night has a different theme that corresponds with pop culture now. The Quiz nights are a great night for staff / friends to connect and have fun. Funds on the nights are raised for the building project, for the continuation of renovations and the G.A.P program.
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COLOSOUL CON Colosoul-Con is an extension of our recent Shorts film festival transforming into a new miniature LOCAL pop culture convention. Films from local up and comers will be shown throughout the day, panels from some of Perth’s cosplay pros and stalls will be setup to wow you with their products. Part proceeds of the event will go towards improving peoples’ lives with Beyondblue.
MOVEMBER FASHION SHOW Colosoul teamed up with WAM in support of Beyond Blue and holds the Movember Fashion show to raise awareness for Men’s mental health issues. The fashion show features multiple designers and local DJ guests. This event showcases women in men’s clothing as a voice for important issue for men. Movember raises money as well as awareness for mental health issues to support not only the lives of the individuals but also the families and communities. Beyond Blue’s aim is to reduce the impact of depression and anxiety not only males but a large range of genders and diversity. They raise awareness and understanding and encourage people to seek help as well as supporting recovery, management and resilience. Colosoul also gets a portion of the money raised so that we can keep doing what we are doing and support many more organisations with good causes.
BIRD ON A WIRE HIGH TEA (VINTAGE RUNWAY) - CHILD WISE Bird On A Wire’s Fashion High Tea is a day for women to sit down and enjoy a traditional high tea hosting savories, sweets, tea, fashion runway, pop up stalls featuring vintage stalls and the Bird on a Wire fashion range. Acoustic sets are also featured by several local musicians and Bird on a Wire. All of these talents come together to support the Anti – Sex Trafficking foundation. This event brings awareness and supports the following organisation Child Wise that strives to reduce cases and the impact of child abuse and exploitation.
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WA BORN FASHION SHOW PERTH FASHION FESTIVAL
FOXFEET FASHION SUMMER RUNWAY
WA Born is a part of the Telstra Perth Fashion Festival and features some of WA’s reputable and emerging fashion designers.
Foxfeet fashion summer runway is a unique fashion show which allows emerging designers to feature their garments to a large audience interested in fashion.
This is one of the Colosoul Groups most professional fashion shows for the year and it is expected to be a highlight that attracts a vast audience who know what to expect from fashion. The event combines fashion, dance and musical elements. Three types of wear are shown; emerging, ready to wear and established designers. The event provides designers a great platform to showcase their work and also raise money for projects that the Perth Zoo runs. Fox Feet also collaborates with WAAPA, ECU, Curtin and TAFE students to incorporate them in the show. The designers gain experience in the field and create a variety of networks for the designers, universities, TAFEs and the Colosoul Group.
The event allows growth for the designer, hair and make-up artists, models and Colosoul event organisers wanting to get their foot into the fashion industry. The show not only supports the designers but also in return educates the local community on the purpose of Fox Feet and the Colosoul Group. Each designer can also have a pop-up stall to promote themselves further. Fox Feet’s summer runway assists in raising awareness and money for Princess Margret Hospital’s burns unit. The money that is raised goes directly towards purchasing medical equipment, research, specialist services, capital projects, education and training. This ensures the best and most advanced medical care for the children in a welcoming, reliable and pleasant environment.
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COLOSOUL’S DEPARTMENTS
HUMAN RESOURCES
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When it comes to defining the primary purpose behind the HR department at Colosoul Group Inc. the first word that springs to mind is support. Alongside traditional HR definitions such as recruitment and performance management, the Colosoul HR team was created to provide support and an organisational foundation to the many new and existing social enterprises that coincide under the Colosoul name.
Assuming that there are currently 85 volunteers in Colosoul, with each person volunteering a minimum of 10 hours a week (2 days, 10am-3pm) and 40 hours a month (4 weeks/month), Colosoul should be covering a total of 3,400 (40hrs x 85 volunteers) volunteering hours each month. We can conclude that Colosoul is currently only achieving 33.63% (1143.4hrs /3400hrs) of its volunteering hours.
This notion of support is perfectly reflected by the HR office at Colosoul (or lack thereof). The HR team is located not behind a closed door in a dark room but out in the common space of the Colosoul office. By being situated so openly the HR team is able to be approachable to everyone in the organisation whilst also promoting interdepartmental communication and collaboration. As accurate as the timesheets go, here are the number of volunteering hours Colosoul is achieving across the month of April, May & June. With an average of 1143.4 hours.
There are several factors that has led to this result. With the biggest factor being not all volunteers are actively filling in their timesheets. Only 64 volunteers who are on record, with the whole events department’s timesheets missing for the month of June. Secondly, with the volatile schedule of a university student, which is majority of our volunteers, not all volunteers are able to achieve 40 volunteering hours each month. Thirdly, the high volunteer turnover rate of Colosoul has made it hard to keep track of all current volunteers.
The HR department strives at being a welcoming presence within Colosoul through effective and engaging inductions whilst also staffing Colosoul with eager and talented volunteers through the effective recruitment processes. Furthermore, the HR team has created many new procedures to provide Colosoul with an organisational foundation. These include volunteer leave applications, clean schedules, time sheets, email accounts, exit forms and much more. However, it cannot go without saying that improvements can be made in regard to the HR team at Colosoul. Currently the organisation is facing a high rate of turn over which is expected in a youth non-forprofit volunteer firm and this results in a large amount of vacancies in the departments which need to be filled promptly which the HR team is currently struggling to achieve. With this in mind the HR team is currently updating all online job advertisements whilst also exploring new means to reach potential volunteers and being them into the organisation. We are excited to expand our team and look forward to collaborating with more mentors to improve the structure that the HR department can implement.
ACCOUNTS The accounting and finance team is crucial to achieve the goals and ideals of Colosoul group. We oversee the financial position of the company through controlling the budgets and bank accounts for each department within Colosoul, as well as future financial planning. Over the last six months, the team has been through some positive changes. In order to increase reliability and accuracy, we have changed from cash to an accrual accounting system. This allows us to record all revenue and expenses as they are incurred, rather than when receipts and invoices are received or paid. Our new accounts team consists of volunteers with a focus in management accounting strategies to oversee and improve the operations in Colosoul. Currently, the accounts team is focusing on developing a budget which each department will be staying in line with. Additionally, we are also aiming to develop strategies that stabilise department sales by October in order to pay team leader wages. To further strengthen the team, we are planning to recruit a volunteer taxation accountant.
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SPONSORSHIPS We have a strong sponsorship plan for 2017/2018 and it’s exciting that now our in-house structure is more secure with our mentorship programs. Our Club 70 initiative (which there is separate booklet you can view,) is about bringing small and medium sized businesses on board to commit 3 years from as little $1000 a year. This is exciting as we felt it was something that is very achievable and an easy marketing plan and tool for anyone to follow. It is also a way to make business partners feel important and more elite as twice a year we will hold special sundowners for this group of people only inviting well known special guest speakers to attend who will thank those who have come on to support this fantastic initiative. Club 70 invites 70 businesses willing to give into our young peoples’ organisation allowing us to continue to move forward without financial constraint. We have been utilising linkedIn at a constant pace and making ourselves more noticeable through this business outlet. We are meeting some very kind people who are offering their time to give professional mentorship and workshops. Some are offering to connect us with others including
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business connections for POP and Lepak. About Me is another social media outlet that we keep regularly updated. We can connect with people on a different level where it’s more about keeping them informed about what we do which reaches a different type of business person such as Bill Thai who we have connected with and is visiting us in December. Bill Thai is a venture capitalist. He has invested in dozens of start ups and is on the board of many companies. We are creating a Colosoul Business Committee (Please see brochure) of 10 - 20 people that will help Colosoul organise outside events related to corporates. Events we don’t organise but are organised by those on the committee. This committee commits for 3-12 months depending on their availability and replaces themselves when they leave. Again a fantastic initiative for business people to get involved in from a small or larger scale. With this resource it will help us as a young peoples’ organisation to reach out to a broader business and corporate demographic that we normally could not reach.
SOCIAL MEDIA Social media is currently focused on growing their team and developing strategies to achieve the following within the year: •
Get the Instagram to 2000 followers
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Get Facebook to 10,000 followers / likes
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Develop a consistent brand and theme when it comes to both Facebook and Instagram so that the magazine is instantly recognised
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COLOSOUL’S SOCIAL ENTERPRISES
THE BASEMENT GALLERY
A small gallery previously situated in a basement space in the heart of Perth City but has since relocated to Colosoul’s new premises in Subiaco, The Basement Gallery hosts and supports a collection of Western Australian artists each month. Run entirely by youth volunteers, the gallery aims to give affordable promotion and opportunity to those in the Perth art scene. Artists holding solo exhibitions within the gallery also enjoy the benefit of having an interview and the opportunity to be featured on Colosoul’s
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social media platforms. In addition to artist support, The Basement Gallery raises money through part proceeds from gallery hire fees, which are donated directly to Princess Margaret Children’s Hospital Burns Unit. The galleries goal for the next year is to build up subscribers on the website and a data bases of young artists that would see frequent exhibitions at the gallery. The Subiaco premises provides great exposure for the gallery as it is situated in a shop front.
POP CREATIVE POP Creative is our design and marketing agency which aims to provide small to medium sized businesses with outstanding branding and advertising services. The services POP provides include promotional advertising, logos, web design, business card design, newsletter design, media kits, business planning, corporate video production and corporate identity creation. POP Creative is a fantastic avenue for creative youth, designers and marketers to build up their portfolios in these areas; volunteers thus gain hands-on experience and also have the ability to create important networking links within the industry. Having been established since June 2015, POP Creative had been running for a year and a half by the end of 2016. In 2016 POP Creative had completed designs for Royal Lifesaving Society WA (not for profit), Cat Chat (start-up podcast), C.O.B Designs (start-up natural cosmetic
business), Machere Couture (start-up fashion brand), Jody R Murphy (entertainment business), Pony Club Association of Western Australia (not for profit), Red Ginger Services (start-up health education business), Your Vet Online (veterinary business), Venus D’Scarlett (Makeup Artist) and Von Appetite (start-up nutritional education business). Across these clients POP Creative designed logos, an annual report, business cards, social media graphics and a website. In regards to work within Colosoul during 2016 POP Creative designed all the promotional material for Colosoul’s departments and inhouse events. They also redesigned the weare. colosoul.com.au website and set up an online ticketing system for in-house events. Having moved into a new premises within Subiaco, POP Creative aims to connect with local businesses. They currently have one strategy under development to engage with and promote Subiaco businesses. Establishing a good social media presence and online appearance is another important agenda for POP Creative this year. They are also focused on ensuring volunteers feel supported and able to express themselves creatively through establishing and maintaining open channels of communication and reporting.
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LEPAK MEDIA Lepak Media believe in giving young creatives the chance to pursue their passions through handson mentoring within a professional learning environment through film and photography. We offer professional film and photography services for clients. Our innovative team is driven to produce content that meets industrystandard. Our main goal is to provide a positive and supportive learning environment for young people (13– 25) to gain and develop skills in film-making and photography. In effect, this will train and prepare our team to have the required skills to apply within a professional working environment. Our photography studio is also available for hire and is a creative space for young people to flock too.
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We offer our services at an affordable price, perfect for young and upcoming creatives to utilise more often so they can do more of the things they love to do without feeling like they
can’t afford it. We also run open workshops for those wanting to improve their film and photography skills. Our vision is to ensure our youth are nurtured in an encouraging and supportive working environment to inspire them to pursue their dreams and aspirations while creating a successful portfolio. Lepak Media’s goals for 2017 is to have a following of young and upcoming photographers that will volunteer under Lepak Media, to have our studio fully equipped with photography and videography equipment and obtaining regular clients hiring the space. Our biggest goal this year is to have our online presence triple from what it is now at 338 likes, we understand that we need to post more consistently and upload more engaging content, to bring our views in through more visualising content. We are excited for 2017 and what our team of creatives can achieve.
FOXFEET COLLECTIVE FoxFeet Collective is a collective run by a passionate fashion driven team that focuses on supporting emerging talent in the Perth fashion industry and is an initiative of The Colosoul Group Inc’s fashion department. FoxFeet Collective manages photoshoots, runway shows, and its own clothing store. FoxFeet Collective’s store is filled with many one-of-a-kind vintage clothing finds and emerging fashion brands. This makes their store a unique shopping experience for anyone that wants to wear clothing that is funky and different. We are approaching local designers to stock their pieces to gain retail experience and give them another platform to showcase their works to the public. The Goal for 2017 is to have a strong team, of 10, with 4 main team leaders, constructing at least 2 photoshoots a week and planning for our fashion show months in advance. Our social media has
improved since last year. We see our Instagram at a 1,691 following, but our Facebook at 339 likes, which is something we must improve on for this year. We are seeing that Instagram is more effective, and reaching our targeted market. FoxFeet Collective is operating as a full inhouse fashion agency under the Colosoul umbrella, our team design and plan, implement custom branding, marketing & PR strategies tailored around fashion businesses and events. FoxFeet provides various services in which volunteers can take part, these include event management, marketing & PR, logos & branding, print promotion, press releases & advertorials, look books & photoshoots. Young people that volunteer under FoxFeet Collective gain invaluable experience, which will help path the way for a successful career in fashion.
27
LAMODS MODELLING La Mods is a modelling agency for guys and girls ages 13 - 25; it provides opportunities for young people to gain exposure within the modelling industry and create career paths as professional models. La Mods also provides models with mentoring in a number of fields including catwalk techniques, magazine shoots, presentation and TV appearances. This is an initiative by the Colosoul Group and will provide Perth with models of a high standard that are prepared to excel in the competitive industry of modelling. While encouraging community focus and string friendships. 2016 - 2017 was a huge success for La Mods Modelling we had several successful shows like Wa Born 2016 which saw over 250 people attend, and gave 10 emerging designers the opportunity to show. Melbourne cup fashion
28
show at the Botanica was a smooth runway for Colosoul to plan as we were paid to put it on, Bird on a Wire Picnic in the Park where we constructed a runway in a park and in the middle of Summer saw us collaborate with business to create a vintage inspired show. We then had a very successful FoxFeet Summer Runway Urban Wasteland which we held on the top of the Queens Park Complex, this saw 11 designers showcase and exhibit there work in a creative way, in the likes of which we have never done before, and set the way for many other shows this year to be organised like. We are excited for this year and the restructure of LaMods with our focus on signing new models and starting up workshops on a regular basis.
COLOSOUL PUBLICATIONS Our diverse range of publications and departments gives volunteers a variety of choice and the ability to choose an area which suits them.
COLOSOUL MAGAZINE Colosoul Magazine is the largest and the first magazine created and produced here at Colosoul. The magazine has a large focus on social responsibility and volunteers cover a diverse range of topics such as; music, art, film, fashion, travel, lifestyle, books and photography as well as environmental and social issues. Colosoul magazine gives young aspiring writers a change to write for a magazine and gives volunteers an opportunity to create a successful portfolio.
TEENSOUL Teensoul is a magazine created for teens by teens under professional guidance. The magazine provides teens an opportunity to share what they are passionate about with like-minded peers and explore the creative opportunities available within their community. In our online magazine we strive to publish balanced, socially conscious and inclusive content. Our magazine celebrates teens making a difference in their communities. Our cohesive team of teen writers cover fashion, art, social issues, local culture, social activism and lifestyle. Teensoul aims to provide teens with confidence through mentoring and skill building in aspects of the writing, publishing and media industry. Through mentorship within our team, our holiday writing workshops or school workshops Teensoul is focused on equipping teens with the skills to achieve in the media industry. Teensoul’s editorial, marketing and writing team not only provide support and feedback to improve each others’ skills, but friendship fostered on the union of like-minded, spirited young people. Teensoul aims to publish content that inspires other young people to make a difference and to do what they love within the arts industry.
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WORDPLAY Wordplay magazine is an Australian hip-hop magazine with a strong focus on local artistic talent. The magazine consists of up to date music news, reviews, interviews and artists features. Wordplay thus offers music lovers the chance to volunteer and gain practical experience in creative writing to build up a successful portfolio.
VASHTI Vashti is an innovative magazine which focuses on ethical Australian fashion, in both manufacturing and materials, aiming to bring attention to the plight of animals in the fashion industry. Vashti aims to promote strong local talent in fashion design, arts, writing, photography and design, as well as independent vegan and vegetarian restaurants both online and in print. Volunteers involved with Vashti magazine thus have the opportunity to gain and or advance their skills in these areas and the opportunity to build ties with already established designers and retailers.
GRETA PHOTOBOOK Greta Photobook is a collection of emerging WA photographers that are looking to gain exposure through publishing their work. Each edition of Greta focuses on a particular topic, and photographers are encouraged to submit their creative interpretation of this for the publication. Greta thus aims to provide volunteers interested in photography with practical experience in this field and exposure within the industry.
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TESTIMONIALS I have been volunteering at Colosoul for 2 years now, and I love every moment of it. I am very excited for our new chapter and the new initiates I am starting this year like our cafe project, Fox Feet’s new store and creating a creative hub for our staff to thrive in. Katelyn (General Manager, 22).
Whilst I was studying a broad design degree at university I wanted to gain some practical experience in graphic design, to see if this was a possible avenue for me. With no portfolio my outlook for securing work experience within industry looked bleak. I fortunately found Colosoul and became an assistant graphic designer. One of my first projects was designing and laying out a book which was published. By designing the book from start to finish my confidence and knowledge within graphic design grew. A year and a half later I am now one of the team leaders for POP Creative. From starting out with no portfolio I now have an extensive one and I have also improved my leadership, communication and business management skills. Above all Colosoul has taught me that nothing is impossible as long as you put your mind to it. Tegan (POP Creative Team Leader, 21).
I began volunteering at Colosoul 9 months ago and have since been exposed to a number of opportunities. Examples of experience that I have gained include a couple of areas such as music and fashion photography which has been invaluable. Through doing so, my time at the organisation has given me the confidence to pursue different aspects of photography that I am most passionate about and accelerate my personal develop immensely. Sam ( Photography Assistant Team Leader, 19).
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TESTIMONIALS Colosoul has been a massive learning curve for me over the last year. From learning what I’m not doing as an artist myself to get found, how important good and constant marketing is, to what is involved in organising exhibitions and events. I’ve been able to connect with so many different people, each one teaching me a wealth of knowledge and hopefully will be contacts I can keep in the future. Now I’m getting hands on experience at running a business that is part of a large organisation and working on my skills to hopefully implement in my own businesses in the future. Teresa ( The Basement Gallery Curator, 24).
I recently finished high school. I was concentrating on photography and film at school and wasn’t sure if I would ever be able to get my foot into the right industry. I found out about Colosoul and they immediately gave me fashion shoots to do. I was filming for a company project in which I came up with the ideas. I became the Creative Director and it was so exciting, the company loved what I did, it was so encouraging to hear. To know I was putting this on my CV meant the world to me. I am so grateful for the opportunity Colosoul gives me, it shows that I can too pursue my creative pathway. Ocean ( Lepak Media, 18).
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ORGANISATIONAL STRUCTURAL CHART Organisational Chart, July 2017
General Manager
CEO
Katelyn Kitching
Tricia Ray
katelyn.kitching@colosoul.com.au
tricia.ray@colosoul.com.au
CAFE
ACCOUNTS
ADMIN
HUMAN RESOURCES
Alexis Kittler alexis.kittler@colosoul.com.au
Ashley Agnelo Dias & Nicholas Thaniel
Elizabeth Stanley
Michelle Swiatek & Reece Young
accounts@colosoul.com.au
admin@colosoul.com.au
hr@colosoul.com.au
FOXFEET COLLECTIVE
POP CREATIVE
LEPAK MEDIA
EVENTS
SOCIAL MEDIA
Tegan Edwards & Oscar Guevara
Amy King & Jerome Stolley
Sruthy Nayakam
Anna Robbins Bevis
Sherise La Bram
popcreative@colosoul.com.au
lepakmedia@colosoul.com.au
events@colosoul.com.au
robbins.bevis@colosoul.com.au
foxfeet@colosoul.com.au
LAMODS MODELLING THE BASEMENT GALLERY
COLOSOUL MAGAZINE
TEENSOUL
Dana Huneidi
WORDPLAY
lamodsmodelling@colosoul.com.au
Teresa Hall & Corey Hines
Isobel Armstrong
Sarah Makse
Sara Terry
gallery@colosoul.com.au
editorial@colosoul.com.au
teensoul@colosoul.com.au
wordplay@colosoul.com.au
G.A.P (Got Absolute Potential)
VASHTI
GRETA
COLOSOUL JAPAN
MUSIC
Carolyn Rebeiro
Jerome Stolley
Tiffany Kennedy
Anthea Yang
Ella Dilber
vashti@colosoul.com.au
greta@colosoul.com.au
colosouljapan@colosoul.com.au
music@colosoul.com.au
gap@colosoul.com.au
KICKSTARTER PROGRAM
KEY:
THE HAM HUB
Management
Calvin Donnelly & James Buchanan
Departments
thehamhub@gmail.com
Social Enterprises Publications / editorial departments Programs
33
FINANCIAL PERFORMANCE OVERVIEW 2016 - 2017 The financial performance of 2016 has seen a fall from $75000 to $1000. There are three critical factors that have contributed to this outcome. Firstly, the adverse economic climate of WA has led to a decline in sponsorship income. Secondly, the relocation from Barrack Street to Hay Street has resulted in a loss of clientele
members require training in order for business functions to operate effectively again. Despite these setbacks, the financial performance has been similar to the previous year. We were able to maintain our income and expense at a comparable level, with the primary difference being contributions from our CEO Tricia Ray.
and key staff members. Lastly, new coming staff
MAJOR PERFORMERS EVENTS It was a great year for the department whom
activity. Significant functions include Charity
with assistance of our volunteers, ended the
Ball, WA Born, FoxFeet Urban Wasteland and
financial year with all events having a positive
Bird on a Wire. We would like to thank all our
return. The surplus, contributes to our financial
volunteers for their hard work in raising funds
resources assisting with general business
for our day to day operations.
Event
Incomes
Expenses
Surplus (Deficit)
Portion of Event Profit
$ 8,918
$4, 756
$ 4, 162
30 %
$ 764
$ 158
$ 606
5%
Bird on a Wire
$ 1,594
$ 605
$ 989
7%
Foxfeet Urban Wasteland
$ 5,514
$ 3,326
$ 2, 188
16 %
90’s Quiz Night
$ 4,627
$ 4,111
$ 516
4%
Charity Ball
$ 9,740
$ 4,579
$ 5, 161
38 %
$31, 157
$ 17 535
$ 13, 622
100 %
WA Born Disney Quiz Night
TOTAL
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POP CREATIVE & LEPAK MEDIA The relocation cost POP Creative some experienced staff members and clientele, which has translated to less services being undertaken. As such, when comparing the previous year’s sales, we can see a decrease from $13 292 to $8 900. Despite this drawback, under guidance the new team members have learnt quickly and work is picking up steam.
to be a significant contributor to our financial resources. After having completed one project, they are beginning to gain brand awareness resulting in an increase in projects. Currently, they are in the process of renovating their studio with an opportunity to lease this space out to fellow photographers.
Lepak media is a new and growing department in Colosoul. After stabilising sales, is expected
SPONSORSHIP Our fantastic sponsors have once again supported our cause by contributing to our financial resources. We would like to thank the following: Dominic Papaluca our Silver Sponsor from Rise Business Solutions; Arnold Whitehead our Bronze Sponsor from World Wide Printing
Solutions and their endless support for printing services; Beacon Lighting for their assistance in sponsorship inventory and Catherine Paz for her business advice.
OUR MAJOR EXPENSES RENT Effectively, this is our largest expense as early this year, Colosoul relocated to 241 Hay Street, Subiaco. The company was provided with six months of free rent from the 23rd January to 23rd July 2017. After this period, rent paid will be $77,000 including GST which is a significant increase from our previous location. Funding of rent will be divided into two parts. The first, through the lease of four office spaces, and the six internal departments covering their rent costs through their business activities.
Secondly, through the Club 70 donation program in which 70 businesses donate $1,000 per year for three years. By September 2017, Colosoul Café is expected to be fully operational and will assist in covering rent and other expenses. Prior to this date, the Café is expected to generate $2,000 through promotional events.
RENOVATION This is our next largest expense outside of rent payments. The renovation of our new office has cost Colosoul approximately $3,000. Compared to the previous year, this is a steep increase in our expenses however, they are not fixed and will significantly decline once renovation is completed. These expenses have been divided into three areas. Firstly, in the refurbishing and
painting of all the office spaces. Secondly, in the refurbishing and renovation of the soon to open FoxFeet store. Lastly, in the renovation of the kitchen and designated area for the Bar Café, which is projected to be a major source of income thus compensating for the incurred expense.
35
BUDGETED PROFIT AND LOSS
Sales
July
August
September
October
November
December
January
February
March
April
May
June
$4,850
$5, 335
$5,870
$7, 658
$8,425
$9,270
$10,198
$11,219
$12,345
$13,581
$14,942
$16,438
$
-
$ 1,532
$ 1, 687
$1,855
$2,041
$2,247
$2,470
$2,719
$2,990
$3,290
COGS Direct Labour Wages Gross Profit
$
-
$
-
$ 4,850
$5,335
$5,870
$6,126
$6,738
$7,415
$8,157
$8,972
$9,875
$10,862
$11,952
$13,148
100%
100%
100%
80%
80%
80%
80%
80%
80%
80%
80%
80%
Memberships
$175
$175
$175
$175
$175
$175
$175
$175
$175
$175
$175
$175
Sponsorships for rent
$2,000
$2,000
$2,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
Rent Receivable
$1,632
$1632
$1632
$1632
$1632
$1632
$1632
$1632
$1632
$1632
$1632
$1632
Total Revenue
$8,657
$9,142
$9,677
$8,933
$9,545
$10,222
$10,964
$11,779
$12,682
$13,669
$14,759
$15,955
Overheads
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
$1,912
Rent
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
$6,417
Msc Expenses
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
Total Expenses
$ 8,529
$8,529
$8,529
$8,539
$8,539
$8,539
$8,539
$8,539
$8,539
$8,539
$8,539
$8,539
Net Profit
$128
$613
$1,148
$404
$1,016
$1,693
$2,435
$3,250
$4,153
$5,140
$6,230
$7,426
Gross Margin % Other incomes
Indirect Expenses
BUDGETED SALES BREAKDOWN 2017 - 2018 Budgeted Sales
July
August
September
October
November
December
January
February
March
April
May
June
YTD
POP Creative
$800
$880
$968
$1,065
$1,172
$1,290
$1,419
$1,561
$1,718
$1,890
$2,079
$2,287
$17,129
Lepak Media
$800
$880
$968
$1,065
$1,172
$1,290
$1,419
$1,561
$1718
$1,890
$2,079
$2,287
$17,129
Magazines
$750
$825
$ 908
$999
$1,099
$1,209
$1,330
$1,463
$1,610
$1,771
$1,949
$2,144
$16,057
Foxfeet Collective
$750
$825
$908
$999
$1,099
$1,209
$1,330
$1,463
$1,610
$1,771
$1,949
$2,144
$16,057
-
-
-
$1,200
$1,320
$1,452
$1,598
$1,758
$1,934
$2,128
$2,341
$2,576
$16,307
Events
$1,750
$1,925
$2,118
$2,330
$2,563
$2,820
$3,102
$3,413
$3,755
$4131
$4,545
$5,000
$37,452
Total Sales
$4,850
$5,335
$5,870
$7,658
$8,425
$9,270
$10,198
$11,219
$12,345
$13, 581
$14,942
$16,438
$120,131
POP Creative
$213
$235
$258
$284
$313
$344
$378
$416
$458
$2,899
Lepak Media
$213
$235
$258
$284
$313
$344
$378
$416
$458
$2,899
Magazines
$200
$220
$242
$266
$293
$322
$355
$390
$429
$2,717
Foxfeet Collective
$200
$220
$242
$266
$293
$322
$355
$390
$429
$2,717
Café
$240
$264
$291
$320
$352
$387
$426
$469
$516
$3,265
Events
$466
$513
$564
$621
$683
$751
$827
$909
$1,000
$6,334
$1,532
$1,687
$1,855
$2,041
$2,247
$2,470
$2,719
$2,990
$3,290
$20,831
Café
Direct Labour Cost
Total Sales
36
$-
$-
$-
BUDGETED RENT BREAKDOWN 2017 -2018 Department/Enterprise
YTD
MTD
WTD
The Basement Gallery
$5,500.00
$458.33
$114.58
Leasing Space 1
$5,500.00
$458.33
$114.58
Leasing Space 2
$5,500.00
$458.33
$114.58
Foxfeet Collective
$5,500.00
$458.33
$114.58
The Ham Hub
$8,580.00
$715.00
$178,75
POP Creative
$5,500.00
$458.33
$114.58
Lepak Media
$5,500.00
$458.33
$114.58
Magazines
$5,500.00
$458.33
$114.58
Café
$11,000.00
$916.67
$229.17
Events
$11,000.00
$916.67
$229.17
Total
$69,080.00
$5,756.67
$1,439.17
DEPARTMENT/ENTERPRISE PERCENTAGE PROPORTION FOR TOTAL RENT 2017 - 2018 RENT 2017-2018 Events 16%
Basement Gallery 8% Leasing space 1 8% Leasing space 2 8%
Cafes 16%
Foxfeet 8% Magazines 8%
Ham Studios 12% POP Creative 8%
Lepak Media 8%
BUDGETED OVERHEADS EXPENSE BREAKDOWN
Insurance
CLUB 70 PROGRAM
Expense Type
MTD
YTD
Fixed
$160
$1,920
Xero
Fixed
$38
$450
Prompt
Fixed
$38
$461
Telstra
Fixed
$107
$1,279
Electricity
Variable
$700
$8,400
Water
Variable
$100
$1,200
Creditors
Fixed
$80
$960
Loans
Fixed
$460
$5,520
Bank Fees
Variable
$78
$936
Audit Fees
Fixed
$51
$612
General Provision
Variable
$100
$1,200
$1,912
$22,939
Total
Sign up sponsorships for 1000 a year for a 3 year period. Monthly Rent
$6,416.67
Budgeted Allocations
$5,756.67
Shortage YTD No. of sponsors required
$660.00 $7,920.00 8
37
COLOSOUL GROUP INCORPORATED ABN 54278 657 407 Balance Sheet, as at 30 June 2017 Page 1 of 3
Account
2017 (Unaudited) $
2016 $
Assets Bank Art Gallery (A/c 258)
0
501
2142
0
0
1235
Colosoul Group Inc. (A/c 215)
5830
15529
Colosoul Magazine (A/c 143)
480
29
Event Management (A/c 127)
2009
631
Fox Feet Collective (A/c 098)
0
86
La Mods (A/c 151)
0
841
Mentorship program (A/c 223)
0
1472
903
99
0
200
237
0
Utilities (A/c 563)
0
21
White Rabbit (A/c 266)
0
44
11602
20689
Business Account (A/c 694) Cheque Account (A/c 415)
POP Creative (A/c 571) Teensoul Magazine (A/c 186) The Colosoul Group Inc. Paypal
Total Bank
38
COLOSOUL GROUP INCORPORATED ABN 54278 657 407 Balance Sheet , as at 30 June 2017 Page 2 of 3
Account
2017 (Unaudited) $
2016 $
Assets Current Assets Accounts Receivable
6502
4771
92
0
Cash in Hand
1532
0
Prepayments
148
0
27
0
895
0
-274
0
265
0
9187
4771
Cafe Equipment
301
0
Fittings & Fixtures
343
0
Office Equipment
86
0
Total Fixed Assets
730
0
Bond
19394
3894
Total Non-current Assets
19394
3894
Total Assets
40913
29354
Beverages
Security Deposit Sponsorship Inventory Staff Payment Holding A/c Work in Progress Total Current Assets
Fixed Assets
Non - Current Assets
39
COLOSOUL GROUP INCORPORATED ABN 54278 657 407 Balance Sheet, as at 30 June 2017 Page 3 of 3
Account
2017 (Unaudited) $
2016 $
Liabilities Current Liabilities Accounts Payable
1839
2150
Cheque Account (A/c 415)
7608
0
-8647
-6387
0
0
74
0
874
-4237
Loan
5500
0
Total Non-current Liabilities
5500
0
Total Liabilities
6374
-4237
34538.96
33590.6
948
75700
Retained Earnings
33591
-42109
Total Equity
34539
33591
GST Rounding Utilities (A/c 563) Total Current Liabilities
Non - current Liabilities
Net Assets
Equity Current Year Earnings
40
PROFIT AND LOSS STATEMENT For the year ended 30 June 2017
Account
2017 $
2016 $
Trading Income Art Sales
181.82
713.62
Auction Sales
1,596.36
0.00
Beverage Sales
1,629.10
0.00
740.00
3,116.19
Colosoul Group Inc.
(259.47)
9,150.00
Colosoul Group Inc. Sponsorship Income
8,042.25
6,345.45
Colosoul Magazine Revenue
7,691.59
514.96
Colosoul Magazine Sponsorship
765.78
1,260.00
Designer Fee
790.87
0.00
4,892.23
1,500.00
76.36
0.00
Fox Feet Collective Sales
162.33
126.36
Fox Feet Sponsorship
200.00
759.45
Grant Income
200.00
0.00
Lepak Media Revenue
2,613.64
0.00
Membership Fees - Colosoul Volunteer
3,231.11
3,429.25
POP Creative Sales
8,908.07
13,292.18
Raffles Income
1,127.00
0.00
181.82
0.00
12,017.89
27,634.14
84.55
0.00
54,873.30
67,841.60
Bird on a Wire: Event
Donation Income Food Sales
Teensoul Magazine Revenue Ticket Sales Workshop Revenue Total Trading Income
41
PROFIT AND LOSS STATEMENT Detailed Profit and Loss Statement? For the year ended 30 June 2017
Account
2017 $
2016 $
Cost of Sales Beverage Purchases
28.04
0.00
8.18
0.00
36.22
0.00
54,837.08
67,841.60
0.00
61,450.44
General Income
371.83
105.55
Interest Income
65.10
50.04
Other Revenue
293.28
994.32
Rent Income
581.81
1,709.09
1,312.02
64,309.44
1,050.60
858.39
17.55
47.25
Art Gallery - Artist Commission
100.00
1,627.01
Bank Merchant Fees
725.30
886.24
0.00
556.70
200.00
0.00
CM - Entertainment Production
0.00
148.77
CM - Event Coordination Expense
0.00
7.26
Ice Purchases Total Cost of Sales Gross Profit
Other Income Donations (Net) - Tricia Ray
Total Other Income
Operating Expenses Administration Expense Advertising
CM - Artist Commissions CM - Artist Fees
CM - Licensing Expense
42
0.00
53.00
PROFIT AND LOSS STATEMENT Detailed Profit and Loss Statement? For the year ended 30 June 2017
2017 $
2016 $
Operating Expenses CM - Printing
(97.28)
301.53
CM - Staging Cost
0.00
1,280.73
CM - Venue Hire
0.00
200.00
CM - Makeup and Costume Expense
0.00
88.37
Consulting & Accounting
11.00
0.00
Decorations
69.42
0.00
2,768.00
2,373.46
215.91
0.00
34.91
0.00
4640.71
21,322.12
Ezidebit Merchant/fee
2.28
0.00
FF - Promotion
0.00
575.00
FF - Venue Hire
0.00
2,500.91
3,480.74
0.00
General Expenses
664.71
248.24
Gifts and Hampers
54.18
0.00
181.82
0.00
2,447.74
1,487.87
0.52
2.02
205.12
0.00
Light, Power, Heating
2,039.53
2,145.26
Liquor License Events
48.18
0.00
Makeup & Costumes
23.15
0.00
Donations Equipment Hire Equipment Purchased <$50 Event Expenses
Food Catering
Hair Artist Insurance Interest Expense Katelyn Per Diem
43
PROFIT AND LOSS STATEMENT Detailed Profit and Loss Statement? For the year ended 30 June 2017
2017 $
2016 $
Operating Expenses Makeup Artists
745.46
0.00
Marketing Expenses
778.37
0.27
Meeting Expense (Entertainment)
516.66
329.65
Miscellaneous Expenses
640.76
0.00
Model Hire
0.00
763.64
Motor Vehicle Expenses
0.00
306.19
Office Expenses
603.49
1,491.11
Parking
419.73
1,126.91
Paypal Merchant Fees
126.08
0.00
Per Diem (Net) - Tricia Ray
347.37
747.88
Portable Toilets Hire
250.00
0.00
Postage
224.87
139.01
1,208.68
374.34
Production Costs
103.67
895.73
Refunds
772.73
78.33
Relocation Expense
1,456.78
0.00
Renovation
2,660.61
73.65
12,830.09
10,197.57
0.00
249.59
300.00
0.00
Sponsored Gifts for Events
3,654.00
0.00
Staff Commissions
4,807.26
0.00
136.00
0.00
1,247.95
0.00
Printing & Stationary
Rent Repairs and Maintenance Security Services
Staff Incentive Staging & Lighting Costs
44
PROFIT AND LOSS STATEMENT Detailed Profit and Loss Statement? For the year ended 30 June 2017
2017 $
2016 $
Operating Expenses Telephone & Internet
1,092.83
1,550.13
Travel - Domestic
886.74
8.18
Utilities expense
26.00
0.00
184.09
0.00
0.00
1,247.00
296.43
160.62
55,200.74
56,451.23
948.36
75,699.81
Venue Hire Wages and Salaries Website Expense Total Operating Expenses Net Profit
45
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE COLOSOUL GROUP (INC) Report on the Financial Report We have audited the accompanying financial report of The Colosoul Group which comprises the balance sheet as at 30 June 2016 and the statement of income and expenditure for the year ended on that date, notes comprising a summary of significant accounting policies and other explanatory information, and the statement by members of the committee. Committee's Responsibility for the Financial Report The committee of the entity is responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Associations Incorporation Act of WA. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor's Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial report 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 entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the committee, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of Australian professional ethical pronouncements. Qualification As is common for organizations of this type, it is not practical to maintain an effective system of internal control over donations, sponsorships and other fund raising activities until their initial entry in the accounting records. Accordingly, our audit in relation to receipts was limited to amounts recorded. We therefore are unable to express an opinion whether voluntary revenue of The Colosoul Group obtained is complete.
46
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CONTACT US 0422 411 499 241 Hay St, Subiaco, WA P.O. Box 8157 Hay st, Subiaco, 6008 weare.colosoul.com.au hr@colosoul.com.au paassistant@colosoul.com.au volunteer@colosoul.com.au
THANK YOU TO OUR SPONSORS Chidlowâ&#x20AC;&#x2122; s Well