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S FINANCIAL STATEMENTS 2015 Q1-Q3 unaudited

www.sandyportmanagement.com Serving our community


SANDYPORT HOMEOWNERS ASSOCIATION LIMITED STATEMENT OF FINANCIAL POSITION At September 30, 2015 (Expressed in Bahamian dollars)

As at Sep 30, 2015

As at Sep 30, 2014

Cash and cash equivalents

566,050

813,116

Accounts receivable

296,632

185,621

85,382

95,623

948,064

1,094,360

77,448

95,453

1,025,512

1,189,813

Accounts payable and accrued expenses

190,972

194,249

Prepaid maintenance fees and deposits

464,751

317,842

655,723

512,091

409

399

557,025

534,125

(187,645)

143,198

369,789

677,722

1,025,512

1,189,813

ASSETS Current Assets

Prepayments and deposits Total current assets Fixed assets, net TOTAL

LIABILITIES AND EQUITY LIABILITIES Current Liabilities

Total current liabilities

SHAREHOLDERS’ EQUITY Share capital 5,000 ordinary shares authorized at $1.00 par value, 409 (2014: 399) shares issued and outstanding General reserve fund Maintenance fund Total shareholders’ equity TOTAL

Unaudited


SANDYPORT HOMEOWNERS ASSOCIATION LIMITED STATEMENT OF MAINTENANCE FUND For the 9 months ended September 30, 2015 (Expressed in Bahamian dollars)

9 months to Sep 30, 2015 Actual

9 months to Sep 30, 2015 Budget

9 months to Sep 30, 2014 Actual

2,016,097

2,023,338

1,988,950

384,977

339,949

339,950

Other services

113,797

37,926

132,180

Miscellaneous income

26,192

-

34,730

2,541,063

2,401,213

2,495,810

557,517

520,152

506,230

446,730

225,000

331,742

Gardening expenses

322,185

314,126

314,126

Maintenance of common areas

320,118

270,205

270,205

Water & meters

298,956

298,408

259,397

Wastewater management

184,806

226,331

174,990

Painting expenses

154,609

130,344

130,344

Garbage removal

63,000

63,000

52,500

2,347,921

2,047,566

2,039,534

193,142

353,647

456,277

Salaries, benefits & national insurance

169,441

184,857

167,297

Provision for doubtful accounts

105,136

31,373

31,373

Office & computer supplies

28,474

33,395

33,395

Rent & utilities

27,650

27,450

27,450

Professional fees

21,490

30,762

26,280

Telephone & communications

11,772

11,637

11,637

Finance charges

8,378

6,811

6,811

Insurance

7,446

7,885

7,885

Property & other taxes

1,000

750

1,000

-

1,778

(50)

380,787

336,698

313,078

(187,645)

16,949

143,198

REVENUE Maintenance fees Water & meters income

Total revenue

DIRECT EXPENSES Security expenses Improvements

Total direct expenses Gross Profit OPERATING EXPENSES

Other expenses Total operating expenses NET MAINTENANCE FUND

Unaudited


STAY IN TOUCH PO BOX SP 64016 SANDYPORT NASSAU, BAHAMAS

BAH +1 242 676 8990 USA +1 305 831 8921 FAX +1 305 705 6599

Visit us on the interweb to make reservations, contact customer service and more!

WWW.SANDYPORTMANAGEMENT.COM

SANDYPORT HOMEOWNERS ASSOCIATION Serving our community

Profile for Sandyport Management

Sandyport 2015 Q1-Q3 Statements  

Unaudited financial statements for the 9 months to September 30, 2015

Sandyport 2015 Q1-Q3 Statements  

Unaudited financial statements for the 9 months to September 30, 2015

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