Financial Report For the year ended 30 June 2021 Presented by Glenn Brown
Morikaunui Incorporation – 2nd December, 2021
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021
TOTAL INCOME
Farm Income $3,402,981 95%
2020 $3.4M
Other Income $167,031 5%
2021 $3.6M
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021
FARM INCOME Sundry $216,667 6% Wool $94,059 3%
2020 $3.3M
Cattle $1,029,975 30%
Sheep $2,064,281 61%
2021 $3.4M
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021
81%
Increase since 2016
GROSS FARM INCOME SUMMARY $4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$-
2021 $3,402,981
2020 $3,306,563 2019 $2,863,174
2018 $2,849,731 2017 $2,282,286 2016 $1,883,985
Morikaunui Incorporation Sheep Sales Sheep Sales – Average Price Per Head
$132
$140 $120
$118
$117
$106 $90
$100
$82
$80 $60 $40 $20 $0 2021
2020
2019
2018
2017
2016
Morikaunui Incorporation Cattle Sales Cattle Sales – Average Price Per Head $1,600
$1,400
$1,304
$1,462
$1,389 $1,258
$1,200
$1,204
$1,189
$1,000
$800
$600
$400
$200
$0
2021
2020
2019
2018
2017
2016
Morikaunui Incorporation Wool Sales Wool Sales – Average Price Per Kilo $5.00
$4.14
$4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00
$1.06
$2.12
$2.13
2019
2018
$2.50
$1.49
$0.50 $0.00 2021
2020
2017
2016
Morikaunui Incorporation Kilo’s of Production 700,000
Total kgs 628,609 574,380
600,000
500,000
400,000
Sheep Kgs 323,947 283,248
300,000
200,000
Cattle Kgs 215,558 205,725 Wool Kgs 89,104
100,000
0 2021
2020
85,407
Morikaunui Incorporation Commodity Prices $9 $8.20
$7.90
$8
$7.70
$7.00
$7 $6.10
$6
$5.70
$5.65 $5.25
$5
$5.40
$5.35
$5.65
$5.35
$5.10
$5.40
$4.60
$4 $3 $2 $1 $0
2021
2020
2019
Lamb
Ewes
Steers
Bulls
2018
$5.30
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021
TOTAL EXPENSES (EXCLUDING NON CASH)
Incorporation Expenses $271,350 11%
2020 $2.4M
Finance Expenses $69,945 3%
Total Farm Expenses $2,049,107 86%
2021 $2.4M
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021
FARM EXPENSES
Pasture Management $518,804 25%
Personnel $483,439 24%
Administration $204,019 10%
Repairs & Maintenance $205,112 10%
2020 $2.01M
2021 Farm Working $536,725 26%
Motor Vehicle $101,008 5%
$2.05M
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021
NET (DEFICIT) / SURPLUS $4,000,000
$3,570,012
$3,500,000
$3,000,000 $2,670,356 $2,500,000
$2,000,000
$1,500,000 $899,656
$1,000,000
$500,000
$Total Income
Total Expenses
Net Surplus
MORIKAUNUI INCORPORATION FARM CASH SURPLUS FOR THE YEAR ENDED 30 JUNE 2021
NET CASH (DEFICIT) / SURPLUS $3,500,000
Total Cash Income $3,229,030
$3,000,000
$2,500,000 Total Cash Expenses $2,049,107 $2,000,000
$1,500,000
$1,000,000
$500,000
$-
Net Farm Cash Surplus $1,179,923
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2021
ASSETS, LIABILITIES AND EQUITY $25,000,000
$20,000,000
Total Assets $19,847,765 Total Equity $16,587,510
$15,000,000
$10,000,000
$5,000,000
$-
Total Liabilities $3,260,255
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2021
ASSET MIX Property, Plant & Vehicles $11,145,151 56% Whanganui Trust Loan $1,194,705 6%
Investments $902,867 4%
2020 $18.6M
2021 Livestock $6,081,525 31%
Other Assets $523,517 3%
$19.8M
MORIKAUNUI INCORPORATION STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2021
LIABILITIES
Unclaimed Dividends $1,194,705 37%
2020 $3.2M
Whanganui Trust Loan $1,667,000 51%
2021 Others $398,549 12%
$3.3M