FINANCIALS 20/21
FINANCIALS 20/21
Scroll to read our Treasurer’s Report, Auditors Report and Financial Statements.
TREASURER’S REPORT
It is very pleasing to report that OzHarvest was able to achieve Total Revenue for the year ended 30 June 2021 of $29,651,296 (FY20: $18,897,925). This was made possible by our very generous partners and supporters in a year where the impacts of COVID-19 were widely felt.
The need for food relief grew significantly during the year. The continued commitment from Government at all levels enabled us to continue and expand significant emergency food relief projects to support the most vulnerable in capital cities and regional areas across Australia. Food rescue operations also expanded with an increase in the number of vehicles on the road, driven by growing demand from both food donors and recipient charities. This has led to a rise in the organisation’s operating expenses to $27,182,160 (FY20: $18,495,825).
OzHarvest continues to invest in education and sustainability initiatives to drive action and influence food waste policy. The net result for the year was a surplus of $2,469,136 (FY20: $402,100). Of this amount, $1,000,000 was transferred to sustainability reserve whilst the remainder will be invested into food, education and sustainability programs in FY22.
I wish to thank Graham Jowett (CFO) and the finance team for their dedication and professionalism. I also acknowledge the continued work and guidance of the auditors, Ernst & Young.
Kieran Pryke
Treasurer & OzHarvest Board Director
AUDITOR’S REPORT
The summary financial statements, which comprise the summary statement of financial position as at 30 June 2021, the summary statement of comprehensive income, summary statement of changes in equity and summary statement of cash flows for the year then ended, and related notes, are derived from the audited financial report of Oz Harvest Limited (the Company) for the year ended 30 June 2021.
In our opinion, the accompanying summary financial statements are consistent, in all material respects, with the audited financial report, in accordance with Australian Charities and Not-for-Profits Commission Act 2012.
The summary financial statements do not contain all the disclosures required by Australian Accounting Standards and Australian Charities and Not-for-Profits Commission Act 2012. Reading the summary financial statements and the auditor’s report thereon, therefore, is not a substitute for reading the audited financial report and the auditor’s report thereon.
We expressed an unmodified audit opinion on the audited financial report in our report dated 27 October 2021.
The directors of the Company are responsible for the preparation of the summary financial statements in accordance with the Australian Accounting Standards and Australian Charities and Not-for-Profits Commission Act 2012.
Our responsibility is to express an opinion on whether the summary financial statements are consistent, in all material respects, with the audited financial report based on our procedures, which were conducted in accordance with Auditing Standard ASA 810 Engagements to Report on Summary Financial Statements.
Ernst & Young
Sydney, 27 October 2021
2021
$
2020
$
REVENUE
40,322
14,430,717
14,735,750
444,507
29,651,296
20,636
11,082,000
7,305,770
489,519
18,897,925
EXPENSES
(108,340)
(1,755,384)
(13,037,339)
(532,372)
(1,053,152)
(269,028)
(465,987)
(7,977,559)
(43,537)
(596,437)
(1,343,025)
(27,182,160)
(172,551)
(1,727,505)
(10,769,108)
(359,829)
(850,786)
(239,935)
(304,219)
(2,467,614)
(82,516)
(492,765)
(1,028,997)
(18,495,825)
SURPLUS BEFORE INCOME TAX
2,469,136
-
2,469,136
402,100
-
402,100
OTHER COMPREHENSIVE INCOME
-
2,469,136
-
402,100
Statement of financial position
As at 30 June 2021
2021
$
2020
$
Current Assets
7,018,100
1,038,184
4,000,000
319,372
87,254
12,462,910
6,388,451
587,194
6,116,808
280,878
95,748
13,469,079
Non-Current Assets
2,752,834
3,839,082
117,584
6,709,500
19,172,410
2,421,738
3,686,848
220,628
6,329,214
19,798,293
Current Liabilities
5,551,686
892,478
963,316
7,407,480
9,284,552
1,011,259
682,116
10,977,927
Non-Current Liability
3,200,054
209,925
3,409,979
10,817,459
8,354,951
2,835,673
98,878
2,934,551
13,912,478
5,885,815
EQUITY
3,000,000
5,354,951
8,354,951
2,000,000
3,885,815
5,885,815
Statement of CASH FLOWS
As at 30 June 2021
2021
$
2020
$
Cash flows from operating activities
26,560,132
(25,906,107)
41,413
695,438
27,421,621
(16,170,262)
7,055
11,258,414
Cash flows from investing activities
(1,035,430)
8,184
-
2,115,717
1,088,471
(806,287)
5,488
(142,638)
(5,000,000)
(5,943,437)
Cash flows from financing activities
(1,154,260)
(1,154,260)
(1,196,043)
(1,196,043)
Net increase in cash held
629,649
6,388,451
7,018,100
4,118,934
2,269,517
6,388,451
NOURISHING OUR COUNTRY
OzHarvest HQ is based in Sydney, with eight offices, four hubs and seven volunteer run regional chapters across the country. Click on the map to see our local impact in each location. The number of meals delivered includes purchased food, cooked meals and hampers where applicable.