FIJI POLICE FORCE OTHER RANKS MESS

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

CONTENTS

Page 1 Company Directory

2-3 Executive Members Report

4 Statement by Board- Executive Committee

5 Accountant's Compilation Report

6 Statement of Comprehensive Income

7 Statement of Changes in Accumulated Funds

8 Statement of Financial Position

9 Statement of Cash Flows

10-13 Notes to the Financial Statement

14 Detailed Statement of Income & Expenditure

15 Fixed Assets and Depreciation Schedule

FIJI POLICE FORCE OTHER RANKS MESS
ORGANIZATION DIRECTORY
AS AT 31 JULY 2023

NATURE OF ORGANIZATION : Leisure, Recreational Area and Bar for Police Officers below Sergeant Major Ranks

HEAD QUARTERS : SSP Meli Sateki

CIV Sanjay Lakhan
IP Trisa Nayare
JP Shamsher
IP Ananaiasa Vukileca Tokailagi
SGT Merewalesei Nukutabu
: SM Serupi Yabaki
ASP Sunil Dutt

INTERIM SECRETARY TO THE BOARD PC 7281 Desmond Sagar

ACCOUNTANTS : PKF aliz pacific

Chartered Accountants & Business Advisors

BANKERS : Home Finance Company Pte Limited

Suva

EXACT LOCATION : Nasova Compund

Nasese
Suva

Page 1
FIJI POLICE FORCE OTHER RANKS MESS
BOARD MEMBERS STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

We, being the executive members of Fiji Police Other Rank Mess, state that in our opinion, the accompanying financial statements are
drawn up so as to give a true and fair view of the state of affairs of Fiji Police Other Rank Mess (the organization) as at 31 July 2023 and of
the results, movement of funds and cash flows for the year ended at that date.

Executive Board

The executive board members in office during the year and up to the date of this report are:

SSP Meli Sateki President

IP Trisa Nayera Vice Predient
IP Shamsher Ali Board Member
IP Ananaiasa Vukileca Tokailagi Board Member
SGT Merewalesi Nakutabu Board Member
SM Serupi Yabaki Board Member
ASP Sunil Dutt Board Member
CIV Sanjay Lakhan Treasurer

Principal Activity

The principal activity of the organization during the course of the financial year was to create a leisure, recreational area, restaurant and bar
environment for officers below Sergeant Major rank. There was no significant changes in the nature of the activities of the organization
during the financial year.

YTD

Operating Results 31 July 31 July 31 July

2023 2020 2022
$FJ $FJ $FJ

Total Income 349,387 349,387 114,319

Total Expenses 349,658 349,658 81,721

Net Surplus/(Deficit) for the year (271) (271) 32,597

Non Current Assets

Prior to the completion of the organization's financial statements, the executive board members took reasonable steps to ascertain whether
any non-current assets were unlikely to be realized in the life of the organization compared to their values as shown in the accounting
records of the organization.

As at the date of this report the Directors and the Board Members are not aware of any circumstances which would render the values
attributed to the current assets in the Company's financial statements misleading.

Unusual Transaction

In the opinion of the executive board members, the result of the operations of the organization during the financial year were not
substantially affected by any item, transaction or event of a material unusual nature likely, in the opinion of the executive members, to affect
substantially the results of the operations of the organization in the financial year, other than those reflected in the financial statements

Related Party Transcations

All related party transaction have been adequately recorded in the financial statements.

Other Circumstances

At the date of this report, the Board Members are not aware of any circumstances not otherwise dealt with in this report or financial
statements which would render any amounts stated in the accounts to be misleading.

Page 2
FIJI POLICE FORCE OTHER RANKS MESS
BOARD MEMBERS STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

Unusual Transaction

The results of the Company's operations during the financial year have not in the opinion of the Board members been substantially affected
by any item, transaction or event of a material and unusual nature other than those disclosed in the financial statements.

Significant Evenxt During the Year

There were no significant changes in the operations of the Organization during the financial period.

Events Subsequent to Balance Date

There has not arisen in the interval between the year and the date of this report any item, transaction or event of a material and unusual
nature likey, in the opinion of the director, to affect significantly the operations of the organization in subsequent financial years.

Signed for and on behalf of the Executive Committee of Fiji Other Ranks Mess.

Dated at Suva, this day of 2023.

_______________________ _______________________
President Treasurer

Page 3
FIJI POLICE FORCE OTHER RANKS MESS
STATEMENT BY BOARD OF EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 JULY 2023

In opinion of the Board of Executive Committee

(a) the accompanying Statement of Income and Expenditure are drawn up so as to give a true and fair view of the operations of the
organization for the year ended 31 July 2023;

(b) the accompanying Statement of Changes in Accumulated Fund are drawn up so as to give a true and fair view of the operations of
the organization for the year ended 31 July 2023;

(c) the accompanying Statement of Financial Position is drawn up so as to give a true and fair view of the state of affairs of the
Organization as at 31 July 2023;

(d) the Statement of Cash Flows is drawn up so as to give a true and fair view of the state of the organization as at 31 July 2023; and

(e) at the date of this statement, there are reasonable grounds to believe that the organization will be able to pay its debts as and when
they fall; and

(f) all related party transactions have been adequately recorded in the books of the organization

Signed for and on behalf of the Executive Committee of Fiji Police Other Ranks Mess.

Dated at Suva, this day of 2023.

_______________________ _______________________
President Treasurer

Page 4
FIJI POLICE FORCE OTHER RANKS MESS
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

Notes 31 July 31 July

2023 2022
$FJ $FJ

Income 349,387 114,319

Less: Direct Cost 3 198,935 59,178

Gross Profit 150,452 55,141

Operating Expenses 142,074 17,668

Earnings before Depreciation 8,378 37,473

Depreciation 8,649 4,874

Operating Surplus/ (Deficit) for the year (271) 32,599

Other Comprehensive Income - -

Total Comprehensive Income (271) 32,599

The Statement of Comprehensive Income is to be read in conjunction with the Applicable Accounting Policies and Notes to the Financial
Statements set out on pages 9 to 12.
Page 6
FIJI POLICE FORCE OTHER RANKS MESS
STATEMENT OF CHANGES IN ACCUMULATED FUNDS
FOR THE YEAR ENDED 31 JULY 2023

Accumulated Total
Funds
$FJ $FJ

Balance as at 31 July 2021 45,778 45,778

Net Surplus for the year ended 31 July 2022 32,598 32,598

Balance as at 31 July 2022 78,377 78,377

Net (Deficit) for the year ended 31 July 2023 (271) (271)

Balance as at 31 July 2023 78,106 78,106

The Statement of Changes in Accumulated Funds is to be read in conjunction with the Applicable Accounting Policies and Notes to the
Financial Statements set out on pages 9 to 12.
Page 7
FIJI POLICE FORCE OTHER RANKS MESS
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

Notes 31 July 31 July

2023 2022
$FJ $FJ
Current Assets

Cash and Cash Equivalent 4 13,550 3,376

Inventories 7 1,800 1,671

Total Current Assets 15,350 5,047

Non Current Assets

Property, Plant & Equipment 8 55,669 64,319
Financial Asset 5 13,286 13,286

Total Non Current Assets 68,955 77,605

Total Assets 84,304 82,652

Current Liabilities

Other Payable 6 6,200 4,275

Total Liabilities 6,200 4,275

Net Assets 78,105 78,377

.
Accumulated Funds

Opening balance 78,377 45,778

Accumulated Surplus/(Deficit) (271) 32,598

Total Funds Employed 78,105 78,377

These Financial Statements have not been audited

Signed for and on behalf of the Board Members and in accordance with a resolution of the Board Members.

_______________________ _______________________
President Treasurer

The Statement of Financial Position is to be read in conjunction with the Applicable Accounting Policies and Notes to the Financial
Statements set out on pages 9 to 12.
Page 8
FIJI POLICE FORCE OTHER RANKS MESS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023

Notes 31 July 31 July

2023 2022
$FJ $FJ
Cash Flows from Operating Activities

Cash Receipts 349,387 114,319

Payments to Suppliers & Employees (358,307) (85,528)

Net Cash (Used in)/Provided by Operating Activities 9 (ii) (8,920) 28,791

Cash Flows from Investing Activities

(Acquisition) of Property, Plant and Equipment - (69,193)

Net Cash (Used in) Investing Activities - (69,193)

Net (Decrease) in Cash held (8,920) (42,402)

Cash Balance at Beginning of Year 3,376 45,778

Cash and Cash Equivalents at the end of the year 9 (i) 13,550 3,376

The Statement of Cash Flows is to be read in conjunction with the Applicable Accounting Policies and Notes to the Financial Statements set
out on pages 9 to 12.
Page 9
FIJI POLICE FORCE OTHER RANKS MESS
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. General Accounting Policies

The principal activity of the organization during the course of the financial year was to create a leisure, recreational area, restaurant
and bar environment for officers above Inspector rank. There were no significant changes in the nature of the activities of the
organization during the financial.

2 Summary of Significant Accounting Policies

This financial statement prepared by Fiji Police Other Rank Mess is in accordance with the IFRS for small and Medium-sized Entities
issued by the International Accounting Standards Board. The principal accounting applied in the preparation of these financial
statement are set below. These policies have been consistently applied to the years prersented, unless otherwise stated.

(a) Basis of Preparation

The financial statements of Fiji Police Other Ranks Mess organization have been prepared in accordance with the International
Financial Reporting Standards for Small and Medium(IFRS for SMEs). The have been prepared under the historical cost, as modified
by the revaluation of Investment property and derivative financial instruments at their value.

The preparation of financial statements in conformity with the IFRS for SMEs requires the use of certain critical accounting estimates.
It also requires management to exercise its judgement in the process of applying the Organization's accounting policies.

The amount reflected in the financial statements is stated in the Fijian currency.

(b) Cash and Cash Equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purposes of the cash flow statement, cash and cash
equivalents comprise and cash at bank.

c) Property, Plant and Equipment

Property, Plant and Equipment is stated at historical cost less accumulated depreciation and any accumulated impairment losses.
Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to
be capable of operating in the manner intended by the Management.

The organization adds to the carrying amount of an item of Property, Plant and Equipment the cost of replacing parts of such an item
when that cost is incurred if the replacement part is expected to provide incremental future benefits to the Company. All other
repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation on the assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives,
using the straight line method.

Rates
Furniture & Fitting 12.5%
Equipment 25%

d) Other Receivables

Other receivables are recognized initally at the transaction price. They are subsequently measured at amorized cost using the
effective Interest method less provision for impairement. A provision for impairement of trade receivables is established when there
is objective evidence that the organization will not be able to collect all amount due to the original terms of the receivables.

e) Revenue Recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary
course of the Organization's activities.

f) Income Tax

The income of the Company is exempt from income tax in accordance with part 7(2) of the Income Tax (Exempt Income) regulations
2016.

Page 10
FIJI POLICE FORCE OTHER RANKS MESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2. Summary of Accounting Policies (Continued)

g) Other Payables

Liabilities for other payables are carried at cost, which is the fair value of the consideration to be paid in the future for goods and
services received whether or not billed to the organization. Payables to related at the principal amount. Interest when charged by the
lender, is recognized as an expense when incurred.

h) Accumulated Funds

The Accumulated Funds comprise of the opening balance from the Home Finance Company Pte Limited (HFC) bank statement.

3. Direct Cost 31 July 31 July 31 July

2023 2020 2022
$FJ $FJ $FJ

Purchased - Beverages 199,064 60,849

199,064 60,849
Less: Closing Stock (1,800) (1,671)

396,327 120,027

4. Cash And Cash Equivalents 31 July 31 July

2023 2022
$FJ $FJ

Cash on Hand - 500

Cash at Bank-HFC 13,550 2,876

13,550 3,376

5. Trade Receivables 31 July 31 July

2023 2022
$FJ $FJ

Fiji Police Sports Bar 13,286 13,286

6. Other Payables 31 July 31 July

2023 2022
$FJ $FJ

Accurals 6,200 4,275

7 Inventories 31 July 31 July

2023 2022
$FJ $FJ

Beverages 1,800 1,671

Page 11
FIJI POLICE FORCE OTHER RANKS MESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8. Property, Plant & Equipment 31 July 31 July

2023 2022
$FJ $FJ

(i) Building Improvements at cost 62,234 -

Additions - 62,234
Less Provision for Depreciation (12,317) (4,538)

49,917 57,696

Furniture & Fitting at Cost 6,514 -

Additions - 6,514
Less Provision for Depreciation (1,128) (313)

5,386 6,201

Equipment at Cost 445 -

Additions - 445
Less Provision for Depreciation (79) (23)

366 422

Net Written Down Value 55,669 64,319

(ii) Reconciliation

Reconciliations of the carrying amounts of Property, Plant and Equipment by class at the beginning and the end of the financial year

Building & Furniture & Equipement Total

Improvements Fittings at cost
$FJ $FJ $FJ $FJ

Carrying Amount at the beginning 62,234 6,514 445 69,193

Depreciation Expense (12,317) (1,128) (79) (13,524)

Balance as at 31 July 2023 49,917 5,386 366 55,669

9. Notes To The Statement Of Cash Flows

(i) Reconciliation of Cash

Cash as at the end of the financial year as shown in the Statement of Cash Flow is reconciled to the related items in the Statement of
Financial Position as follows:

31 July 31 July
2023 2022
$FJ $FJ

Cash on Hand - 500

Cash at Bank 13,550 2,876

13,550 3,376

Page 12
FIJI POLICE FORCE OTHER RANKS MESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9. Notes To The Statement Of Cash Flows (continue)

(ii) Reconciliation of surplus for the year to the net cash flows from Operating Income

Net Surplus/(Deficit) (271) 32,598

Add/(Less) Non Cash items

Depreciation 8,649 4,874

Total 8,378 37,472

Changes in Assets and Liabilities

(Increase) in Other Receivables - (13,286)

(Increase) in Inventories (129) (1,671)
Increase in other Payable 1,925 4,275

Net Cash Provided by/(Used in) Operating Activities (8,920) 14,438

11. Contingent Liabilities

Contingent Liabilities as at 31 July amounted to $Nil (2023: $Nil).

12. Capital Commitments

Capital Commitments as at 31 July 2023 amounted to $Nil (2022: $Nil).

13. Company Details

Incorporation

The company was registered on the 6th day of October 2010 as a company limited by guarantee.

Registered Office

The registered office and principal place of operations of the Fiji Police Welfare Society Limited is located at Vinod Patel Building,

14. Principal Activity

The principal activities of the Company in the course of the financial year is to deliver services and enhance its role and develop the
health of its members.

15. Approval Of Financial Statements

The financial statements were approved by the Executive Committee and authorised for issue on …………………………

Page 13
FIJI POLICE FORCE OTHER RANKS MESS
DETAILED STATEMENT OF INCOME & EXPENDITURE
FOR THE YEAR ENDED 31 JULY 2023

Notes 31 July 31 July

2023 2022
$FJ $FJ
Income

Bar Sales 326,572 73,839

Subscriptions 22,815 40,480

349,387 114,319

Less: Direct Cost 198,935 59,178

Gross Profit 150,452 55,141

Expenses

Accounting Fees 1,925 575

Audit Fees 4,344 3,700
Allowance 8,351 -
Bank Fees 158 100
Clean Hire up 200 -
Depreciation 8,649 4,874
Entertainment 2,300 -
Gas 5,833 -
General Expenses 37,119 -
Hire of Chairs 100 -
Mess Expenses 27,760 3,923
Office Expenses - 2,714
Printing - 960
Repair & Maintenance 25,033 4,110
Staff Expenses - 1,033
Subscription - 221
Utensils 350 -
Wages & Salaries 28,602 332

Total Expenses 150,723 22,542

Net Surplus/(Deficit)for the Year (271) 32,598

4The Detailed Statement of Income & Expenditure is to be read in conjuction with the Accounting Policies and Notes to the Financial
Statements set out on pages 10-14
Page 14
FIJI POLICE FORCE OTHER RANKS MESS Page 15
FIXED ASSETS AND DEPRECIATION SCHEDULE
FOR THEYEAR ENDED 31 JULY 2023

------------------ Cost ------------------ -------------------------- Depreciation -------------------------- ----- BOOK VALUE -----
Date of Balance Addition Balance Rate Balance (Deletion) Annual Balance W.D.V. W.D.V.
Acquisition 31/7/2022 (Deletions) 31/7/2023 Ordinary 31/7/2022 31/7/2023 31/7/2023 31/7/2022

Building

Building Extension 01/12/2021 62,234 - 62,234 12.5% 4,538 - 7,779 12,317 49,917 57,696

62,234 - 62,234 4,538 - 7,779 12,317 49,917 57,696

Furniture & Fitting

Building Tools 15.10.21 515 - 515 12.5% 54 - 64 118 397 461

Full Set Billiard Table 15.12.21 2,400 - 2,400 12.5% 4 - 300 304 2,096 2,396
2 x Single Door Coolers 15.12.21 3,399 - 3,399 12.5% 248 - 425 673 2,726 3,151
5 x Bar Stools 13.04.22 200 - 200 12.5% 8 - 25 33 167 192

6,514 - 6,514 313 - 814 1,128 5,386 6,200

Equipment

Printer 08.03..22 445 - 445 12.5% 23 - 56 79 366 422

445 - 445 23 - 56 79 366 422

69,193 - 69,193 4,874 - 8,649 13,524 55,669 64,319