Financial summary Income For the year ended 30 June 2023
Sources of income
10,000 9,000 8,000 7,000 10,000
2023
6,000 9,000
2022
5,000 8,000
2021
4,000 7,000
2023
3,000 6,000
2022
2,000 5,000
2021
1,000 4,000 0 3,000 2,000
Cwth Govt Contracts
State Govt Contracts
Service Fees
COVID 19 Stimulus Income
Donations & Partnerships
Tenant Income
Other Income
Recurrent Grants Non-Recurrent Grants Service Fees Rental Income
28% 2% 8% 2%
Donations & Partnerships NDIS Income Other Income
1% 56% 2%
State Govt Contracts
Service Fees
COVID 19 Stimulus Income
Donations & Partnerships
Tenant Income
Other Income
Recurrent Grants Non-Recurrent Grants Service Fees Rental Income
28% 2% 8% 2%
Donations & Partnerships NDIS Income Other Income
1% 56% 2%
1,000
12,000 0
Expenditure Cwth Govt Contracts
10,000
Sources of expenditure
For the year ended 30 June 2022
8,000 12,000
2023
6,000 10,000
2021
4,000 8,000
2023
2022
2022
2,000 6,000 0 4,000
2021 Employee Expenses
Interest Payable
Client Support Services
IT Expenditure
Consultancy Fees
Property Expenses
Other Expenses
2,000 0 Employee Expenses
Interest Payable
Client Support Services
IT Expenditure
Consultancy Fees
Property Expenses
Other Expenses
Employee Expenses 74% Property 3% Interest Paid 1% Client Support Services 7%
IT Expenditure 3% Consultants 1% Depreciation and Amortisation 4% Other Expenditure 7%
Employee Expenses 74% Property 3% Interest Paid 1% Client Support Services 7%
IT Expenditure 3% Consultants 1% Depreciation and Amortisation 4% Other Expenditure 7%
Statement of profit or loss and other comprehensive income Synapse recorded an operating deficit of $262k for the financial year due to a significant investment from prior year surplus funds in order to fund future growth and systems. For the year ended 30 June 2023 2023
2022
$
$
13,535,390
14,155,304
Accountancy and auditor’s remuneration
(33,601)
(35,722)
Advertising and promotions
(54,472)
(66,816)
Client support services
(998,418)
(707,663)
Computer expenses
(468,000)
(397,095)
Consultancy fees
(99,968)
(471,879)
Depreciation and amortisation expense
(609,107)
(548,592)
Employee benefits expense
(10,235,754)
(10,363,300)
Finance costs and charges
(101,801)
(74,248)
Insurance
(121,788)
(113,841)
Legal expenses
(29,729)
(8,823)
Motor vehicle expenses
(48,973)
(51,039)
Office expenses
(236,088)
(243,191)
Other expenses
(398,643)
(289,171)
Property expenses
(360,900)
(380,994)
0
0
(261,852)
402,930
0
0
(261,852)
402,930
Revaluation of land and buildings
0
1,315,601
Total other comprehensive income
0
1,315,601
(261,852)
1,718,531
Operating revenue
Gain/(loss) on disposal of assets Operating surplus / (deficit) for the year Non-operating activities Surplus / (deficit) for the year Other comprehensive income
Total comprehensive income for the year
Statement of financial position For the year ended 30 June 2023 2023
2022
$
$
Cash and cash equivalents
6,220,876
8,025,035
Trade and other receivables
848,063
792,629
Other current assets
178,163
174,166
Total current assets
7,247,102
8,991,830
Property, plant and equipment
12,013,764
12,340,737
Right-of-use assets
1,160,001
1,245,281
Total non-current assets
13,173,765
13,586,018
Total assets
20,420,867
22,577,848
887,073
967,140
Contract liabilities
2,103,373
2,402,441
Employee provisions
694,139
655,888
Lease liabilities
144,089
157,065
3,828,674
4,182,534
1,018,118
2,518,088
Employee provisions
138,969
145,012
Lease liabilities
863,784
929,040
Provision for lease make good
70,000
40,000
Total non-current liabilities
2,090,871
3,632,140
Total liabilities
5,919,545
7,814,674
Net assets
14,501,322
14,763,174
Accumulated surplus
11,570,239
11,832,091
Property revaluation reserve
2,931,083
2,931,083
14,501,322
14,763,174
Current assets
Non-current assets
Current liabilities Trade and other payables
Total current liabilities Non-current liabilities Borrowings
Equity
Total equity
Statement of cash flows For the year ended 30 June 2023 2023
2022
$
$
Receipts from donations, grants and client-related activities
13,457,146
14,178,000
Payments to suppliers and employees
(13,438,785)
(13,649,832)
55,242
1,062
Finance costs
(101,801)
(74,248)
Net cash generated from operating activities
(28,198)
454,981
(97,313)
(71,783)
0
1,280,000
(97,313)
1,208,217
(1,499,970)
(1,500,000)
(178,678)
(163,000)
Net cash used in financing activities
(1,678,648)
(163,000)
Net (decrease)/increase in cash held
(1,804,159)
198
Cash and cash equivalents at the beginning of financial year
8,025,035
8,024,837
Cash and cash equivalents at the end of financial year
6,220,876
8,025,035
Cash flows from operating activities
Interest received
Cash flows from investing activities Purchase of property, plant and equipment Proceed from sale of property, plant and equipment Total cash flows from investing activities Cash flows from financing activities Repayment of borrowing Repayment of lease liabilities
Financial Audit & Risk Committee Hannah Hiscox
Hans Larsson
Greg Luck
Yvette Wirken