Scribd Logo
Importer

Bienvenue sur Scribd !

  • COSRECI Annual Filing 2019

    Transféré par

    Tony Ortega
    7K vues22 pages
    Scientology's organization in the UK makes its annual disclosure

    Titre original

    COSRECI annual filing 2019

    Copyright

    © © All Rights Reserved

    Formats disponibles

    PDF ou lisez en ligne sur Scribd

    Avez-vous trouvé ce document utile ?

    Ce contenu est-il inapproprié ?

    Signaler ce document
    Scientology's organization in the UK makes its annual disclosure

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme PDF ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    7K vues22 pages

    COSRECI Annual Filing 2019

    Transféré par

    Tony Ortega
    Scientology's organization in the UK makes its annual disclosure

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme PDF ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 22
    Joost were OS AAO1 eneenea Statement of details of parent law and other ie Companies House information for an overseas company What this form efor You may use this form 0 accompany yout accounts an aeration of disclosed under parent lav. with accounting 1 *ABDBUGCI* a2 ——asoaa019 ‘COMPANIES HOUSE Part1 Corporate company name [> Filing inthis form Please complete specie ori Corporate name of [CHURCH OF SCIENTOLOGY RELIGIOUS EDUCATION COLLEGE | !/backcoptals overseas company @ pe | tts are manasry s INCORPORATED ‘pected ornate by * Ukestbishment [8 [R [oO 5 Jor ie name of te company in me Tenet Tt fete eee Part 2 Statement of details of parent law and other information for an overseas company a Legislation Please give the legislation under which the accounts have been prepared and, [@ Ths means the elevant les or it i. aie Iogilation ich edt te applicable the legislation under which the accounts have been audited baler arta Legislation [Australian Charities and Notfor-proft Commission Act 2012 auto coun. 12] ‘Accounting principles Accounts Have the accounts been prepared in accordance with ast of generally accepted [@reae sete rane of the accountng principles? sprprte acrouring ogaisson Please tick the appropriate box. eee J Na. Goto Section a3. Yes, Please enter the name ofthe organisation or other body which issued those principles below, and then go to Section A3. Name of organisation otbody® Australian Accounting Standards Board 5 43 | ‘Accounts Accounts Have the accounts been audited? Pease tick the appropriate box. C1 No. Go to Section AS. Yes. Go to Section Ad OS AAO1 Statement of de of parent law and other information for an overseas company o Audited accounts ‘Audited accounts | Have the accounts been audited in accordance with ast of generally accepted | [O Pras sen the name of he auciting standards? appropiate accounting trganisationo bay Please tick the appropriate box No. Go to Part 3Signature’ Yes. Please enter the name ofthe organisation or other body which issued those standards below, and then go to Part 3 Signature’. Name of organisation [australian Accounting Standards Board cor body © Unaudited accounts: Unaudited accounis [isthe company required to Rave is accounts audited? Please tick the appropriate box. Oi no. [2 Yes, Part 3 Signature am signing this for on behalf ofthe overseas company. Signature sre * ost(ZA_— : This form may be signed by Director Secretary, Permanent representative. OS AAO1 Statement of details of parent law and other information for an overseas company Ei Presenter information [bf mportant information You do not have to give any contact information, but if you do it will help Companies House i there is a query ‘on the form, The contact information you give will be Visible to searchers of the public record. Please note that all this information will appear (on the public record. EJ Where to send Peter Hodkin “ann Hodkin & Company “°™ 42.44 Copthorne Road Felbridge "=" East Grinstead “orm West Sussex = REP ET RW 300232 East Grinstead (01342 325765 Wi checkiist ‘We may return forms completed incorrectly or with information missing. Please make sure you have remembered the following: The company name and, if appropriate, the registered number, match the information held on You may return House address: England and Wales: The Registrar of Companies, Companies House, Crown Way, Cari Wales, CF14 3UZ. DX 33050 Card. Scotland: The Registrar of Companies, Companies House, Fourth floor Edinburgh Quay 2 139 Fountainbridge, Edinburgh, Scotland, EH3 OFF DX £0235 Edinburgh 1 (or LP 4 Edinburgh 2 (Legal Post). Northern Ireland: ‘The Registrar of Companies, Companies House, ‘Second Floor The Linenhall, 32-38 Linenhall Street, Belfast, Northern Ireland, B12 88G. DX 481 NAR Belfast 1. is form to any Companies, [EfFurther information For further information, please see the guidance notes ‘on the website at wwvwzcompanieshouse.goxuk ‘or email enquties@companieshouse.gov.sk the public Register. This form is available in an [reece coe alternative format. Please visit the IG. You have signed the form, forms page on the website at www.companieshouse.gov.uk. ‘cAFPO0 Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 Church of Scientology Retigious Education College inc Financial Report for the Year Ended 31 December 2018 CONTENTS TO THE FINANCIAL REPORT ‘Committos’s Report 1 ‘Statement of income and Expenditure ‘Statement of Assets and Liabilities. ‘Statement of Changes in Equity ‘Statement of Cash Flows ae aw Notes to the Financial Report ots Commitie's Declaration “ Independent Auditor's Report 6 Declaration for Responsible Persons 7 Church of Scientology Religious Education College inc. Financial Report for the Year Ended 31 December 2018 COMMITTEE'S REPORT ‘The committee members subi the financial report of Chutch of Scortology Relous Edvetion Calle ic fo the fcancil year ended 31 December 2018. Trustees ‘The names of Tae throughout the year and a the dato ofthis por are: Maseamo Anghss Francoise Springa Principal Activities “The principal acy ofthe ently aug the nancial year was the dissemination and practice of the reign of Scentology in the Unied Kingdom which indudes the delivery of religious services as the pimary purpose. ‘Signicant Changes "No significant change inthe nature of thece activites occurred during the yea. Operating Resum ‘The surphs afer providing for ncome tax fo the 2018 nancial year armoured to $494,194 ‘Signed in accordance witha resohsion of the members of the commie. Dated this 27° day of June 2019 Church of Scientotogy Religious Education College Inc Financial Report for the Year Ended 31 December 2018 INCOME AND EXPENDITURE STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 noe zor ’ s INCOME Parishloner donation for religious serves 3e672.965 36,318,020 Sales of regiows books and artfacts e266 2073.09 Refectory proceed 11938208 4.767301 ‘Contrbutons rom afited organeations and individuals 2431,987 10,522,780 ‘Services to sated organiestions 215625 Other income a7es28 Interest received 6249 ‘Total income, 45,284,001, EXPENDITURE, Rent, rates and insurance 2.080,782 1,460,148, Light and eat 1498,379 1,208,654 ‘Sta atowances 4.563 5,280,880 ‘Aainitration 815934 2800,308 “Telephone tolax snd postage 2eanass 2.14084 ‘Aug and accounting feos 147187 135,545 Depreciation 50s384 3.622.597 ‘Bank charges and interest 4986964 3,462,708, ‘Travel and subsistence, 3115425 3.781239 Repsies and maintenance 1028967 3,103,300 Loss on sae of tango soseta m5 nate Missionary commission expenses 11904,140 4,916,867 Dissemination expentes and materiats ewes 3,118,500 (Cost of books and artefacts 2z4s12 1916875 Refectory coats 130164 1,001,268 Technical ieance foe 7or961 658580 Inctrucion materoks wrasr 165270 ‘Sta development and guitanca 7688721 7.854850 ‘Loge and professional fees 1.145.555 1,008,768 "Net currency conversion loss(gan) (725,182) Grant released (438,070) ‘Bad debt provision : ‘Total Expenses Not current year surplus RETAINED SURPLUS AT THE BEGINNING OF THE FINANCIAL 24,316,168 YEAR Exchange rate diforence on foreign transition 1.400.902 388.561 [RETAINED SURPLUS AT'THE END OF THE FINANCIAL YEAR 25914269 24,516,165, “The accompanying notes form part of these fancia statements, Church of Scientology Religious Education College inc Financial Report for the Year Ended 31 December 2018 ASSETS AND LIABILITIES STATEMENT AS AT 31 DECEMBER 2018 (Cash on hand ‘Accounts receivable and other debtors ‘TOTAL CURRENT ASSETS NON-CURRENT ASSETS. Financial assets Property, plant and equipment ‘TOTAL NON-CURRENT ASSETS TOTALASSETS. (CURRENT LIABILITIES, ‘Accounts payable and oer payables Deterred receipts arising on captal rant ‘Stat provisions ‘TOTAL CURRENT ABILITIES NON-CURRENT LABILTIES Deferred recaps arking on captal grant Loans tram related organisations TOTAL NON-CURRENT ABILITIES TOTAL UABLITIES NET ASSETS MEMBERS’ FUNDS Capt reserve Retalned surptus ‘TOTAL MEMBERS’ FUNDS, Note 218 rir s s 3,382,308 1.903096 25,435.05, 5 rei 742,691 6 96,480.21 88,906,041 97, 285;304 123,700,710 , serT33t4 409,283 raza 35314510 3758871 8 87,716,040 eua7aatt 97,789,430 25911,200 24,316,168 sazz6o17 13226017 12688.272 11,000,146 25911200 24316,163, “The sosompanying notes form part of these nancial statements. Church of Scientology Religious Education College inc. Financial Report for the Year Ended 31 December 2018 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2018 Balance at 1 January 2017 ‘COMPREHENSIVE INCOME, Not suru forthe year Exchange diference on foreign transition ‘Total comprehensive income atbutable to members othe ently ‘Balance at 31 December 2017 ‘Balance at 1 January 2018 ‘COMPREHENSIVE INCOME "Net surpus forthe year Exchange difeconoe on foreign tantation ‘Total comprehensive income atrbutable to members ofthe ently ‘Boance st 31 December 2018 RETAINED CAPITAL, ‘SURPLUS RESERVES TOTAL s s s oe 13228017 16,310,867 7.908.745 = 7608748 0,501 : 308.561 11,000,148 13226017 —(24;316,168 11,090,146 13.226,017__24;316,163 ‘000,448 13228017 24,316,163 494,194 = 496196 +1t00.932 1.400.982 t2esszr2—13.228017 91,288 taeezre 13220017 25,911,280, Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2018 Noo a8 ao ’ s ‘CASH FLOWS FROM OPERATING ACTIMTIES colt forth an of rgious books and ates 29269 2073.30 ‘Reco tom parishioner and fiaiedorpniations 45495,115 49,260,120 ‘Payments to suppers and tat abowances (29,250,123) 1,158,800) Interest received 6200 005 Intorst pid (435954) 2.482.706) Net cash generat fom operating aces 10 werrses_16,716700 ‘CASH FLOWS FROM INVESTING ACTIVITES Proceeds tom sale of property, plata aqupment (205) $5000 Payment for propery, plant and equbment (e4sa7s) (2.854.982) Net cash wed in avestng actives (0482,604) 21,799,882) ‘CASH FLOWS FROM FINANCING ACTIVITES Loans edvanond zsi197 2066314 Not cash used in faancing atvies 2ai1976 2.006.314 Noineroase neath held eeo7218 01788) ft of exchange rat changes on cash Target 138486 ‘Cast on hand at begining of eran! yor yooss.152 1.912.504 (Cash on hand at ond ofthe foancal year 2 __ mama 1900s “The accompanying notes form past of these financial statements. Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED $1 DECEMBER 2018 [NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ‘Alte actin ofthe erty are based inthe United Kndom (UK) and there ae no nancial ansactions between the ‘Association's branches inthe UK and in Australia. ‘The financial statements are special purpose fiincial statements prepared inorder to satay the financial reporting requirements ofthe Ausratan Charties and Noor profts Commission Act 2012 (ACNC Ad). The commiiee has, ‘etormined that the entty i nt a reporting ent. ‘The fnancial tatemens have been prepared onthe historical cost basis. They donot ike Ino account changing money valves or, except where etated spectcaly, current valutions of non-cuent assets. “The fotowing signicant accounting polices, which ae consistent wih the previous porod unless sisted atherweo, ‘have boon adopted in the preparation ofthese franca statements. Income Tax "No provslon fo incare tax has been ralsed In Austral 2s the ently is exempt om income tx under of he Income Tax Assessment Act 1997 as is income i foreign source income devived entirely in the UK. “The ently i however subject to UK corporation tx which arses from the ent being reklen for tx purposes. inthe ux, ‘The UK tax expense for the year comprises cument UK tax expense (income) and defered tix expense (oem, Curent UK tax and deferred tax are recognised in income and exponcure except to the enfant that they are recognised decty in equty orn other comprehensive income. Curent UK tax Uaioe (onsets) are measured _atthe amounts expected to be paid fo (recovered from) the UK tx autores. Deferred tax expense reflects movements in deferred tmx asset arc! deferred tax Kabty balances dur the years well s unused tx losses. ‘Curent UK tax anc deferred tax expense (come) is charged or crected directly fo equity sad of income _and expenditure when the tax relates to Kerns that are charged or credited rectly to equiy. ‘No deferred tax wil be recognise from the ill recognition of an asset or Baby where there fs no effect on ‘sccounting or taxable prof oF fes. Deford tax assets and Kabitins are calculated atthe UK tx rates thal are expected to aply tothe periad ‘when the asset i eased or the Iabity is sated and thot measurement also reflec the manner in which the ‘commitioe expects to recover or sti the canying amount ofthe relied asst o abi, Deferred tx assets relating to temporary differences and unused tax loses are recognised ony othe exent ‘hat tis probable that future taxable proft willbe avaiable agaist wtich te benefits ofthe defoed tax asset canbe uticed. Property, Pant and Equipment (PPE) ‘Each class of property, plant and equipment is cared at cost, les, where applicable, accumulated depreciation and any impaiment tosses, Plant and equipment ‘rant and equbment are mesaured on the cost bani le depreciation and any mpsiment loses. ‘The caring smnourt of plant and equipment is reviewed annuslly by the commites to ensure Ris notin excess ofthe recoverable amount ram these asots. The recoverable amount is essaeved onthe bans of ho ‘epocted net cash ows thal wil be recabved rom the assets employment and subsequent disposal. The ‘epectad new cash flows have not been discounted to War present values in determining recoverable mounts, In the event the canyng emount of plant and equipments greater than the recoverable amount the carrying “amount wen down immediately to the estimated recoverable amount. Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 [NOTE 4: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Leasehold improvements are amortized over the shorter of ther the unexpired period ofthe lease othe ‘etimated vsti Wee ofthe provements. Depreciation ‘The depreciable amounts of al xed assets incung buildings and capiaised leased assets, but excusing frechold land and long leasehold, s deprecated at the folowing annual res over the assets use Me othe ‘entty commencing from the tne the asset i hel ready for use: (Class of Fixed Asset Depreciation Rate Buidings ™ Buding improvernonts ox ‘Leasehold property Equal instalments over the period ofthe lease edu and ngs. 10% and 20% ‘Compute equipment 33.33% Motor Vehicles 28% “The ascot reskial values and usaf Ives are reviewed, and adjusted appropri, atthe end of each reporting period Gains and loses on dapoaal are determined by comparing proceeds with the carying amount. These gains oF losses are recogriced immediately in income and expendtur. Impairment of Ascot [At te end of each roping peri, the commntie reviews the carrying amounts of ts tangible and intangible ‘assets to determine whether there i ay indication that those assets have been impaired. such an indeation ‘edt, an mpalment tet scared out on the asset by comparing the recoverable amount ofthe asst, being the higher of he asset ar value lees costs of lopoaal and vale In use, to the asset's caring our. Any ‘excees ofthe aseat's caring amount over recoverable amounts recognised inthe Meare and expensive ‘taternent ‘cash on Hand ‘Cash on hand includes cash on hand, deposits hal at cal with banks and char short-erm highly quid Investments with ocginal maturties of three months oles. Provisions, Provisions are recognised when the entty has a togal or constructive cbigatin, 2s a result of past events, for ‘which tis probable that an outflow of economic Bonefis wil result and thet outflow can be rokably measured. Provisions are measured atthe best estimate of the amounts required to sete the obligation atthe end ofthe ‘epertng period. ‘Accounts Receivable and Other Debtors ‘Accounts receivable and other debtors Include amounts due from mombers as wall a amounts ecelvable fom doners, Recelvables expected tobe cobected wiin 12 months of the end ofthe reporting period are classified 2s cuent assets, Al ther receivables are classed ss non-curent asst Revenue and Other income Donations and income grants re rcogrised when the entity obtains control over the funds, wich is generally atthe te frcoipt. ‘As reported in note 12, the Church does not account for deterred income on donations from parishioners inthe Uk Because such donitions are made unconditional, "conditions are attached tothe grat that must be satisfied before the association fs efoto recede te ‘contrbution, recognition ofthe grant as revenue wil be deferred unt those condiions ae satisfied. Grants ceived for find assets ae deferred and recognised over the Hie ofthe asset. Church of Scientology Religious Education College Inc Financial Roport for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 [NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Intereet revenue le recogniced using the effective interest method, which for Boating rate inancal asots i the ‘alo inerent in the intranet. ‘Other Income i recognised when the en has eamed the ight to consieraion. Leanee. Losses of PPE, where substantial al the rks and benef incerta! tothe owmorship ofthe sssct out not tho legal ownership) ave trarsirre to the ey, ae classed os face looses. ‘Finance leases are capitaied by recording an aset and a kbity a the lower ofthe amounts equal tothe fir ‘abe ofthe leased property or the present vale of the minkram lease payments, inchuding any guaranteed aka! values. Lease payments are allocated between the reduction of the lense Bablty andthe lease intrect ‘expance for that period. ‘Leased assets are depreciated ona srugtine basis verte shorter of ther estimated usaf Eves othe Jase tora. Leasa payments for operating losses, where substantially al the ek and benefts remain with the lessor, are charged as expenses in the periods in which they oe incurred. (Critical Accounting Estimates and Judgments “The commie members evaluate estates and jucgments incorporated into the financial statements based on historical knowledge and best avaiable cumentoforation. Estimates assume a reasonable expectation of ‘future events and are based on curent trends and economic data, obtained both extemaly and win the enty. ‘The canmmiiee members evaluate ostinstes and jutgmants Icoxporsed into the nancial statements based on hatorcal nowedge and best evalablecunent infomation. Estimates assume a reasonable expectation of ‘ture events and are based on curent rends and economic dat, obtained both externally and within ie enthy Key estimaton Estat He of fod aosets bb. Reetdual vale of xed ansata 6 Markt ate of loans fom related etiien ‘Accourtts Payable and Other Payabog ‘Accounts payable and other payables represent the ably outstanding atthe end of the reporting period for ‘9e0ds and services received by the entity during the reporting pered that remain unpaid. The balance is recognised as a cuentlabity withthe amounts nomaly pad witie 20 days of recognition ofthe kablity. Amounts payable to Affiited Organisations ‘Accounts payable and otber payables represent the ably outstanding atthe end of the reporting period for ‘900d6 and services recehed by the entity dung the reporting period that remain unpaid Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, mForeign Currency trnsiation ‘Functional currency and presentation currency ‘The tnancil statements ar presented in Auta dolar, being the presentation currency. The primary ‘canomic envionment ofthe entity tthe UK. with the functional curency being in Storing Pounds, ‘Teaneactions and balances. In preparing the nancial statement of the ety, transactions in currencies othor than the functional currency are recognised atthe apot ale a he dates ofthe transactions or san average rate where his ato ‘approche actual rato atthe dato cf the transaction. A the end of each reporting pated, monetary ems ‘denominated in foreign curencien ar retranalated a the rates proving af that date. Non-monetary oma that ‘10 measured in tone of historical costs ina foeign currency are not revansisted, ‘Exchange differences are recognised inthe Income and expondture statement inthe pei in which hey aie, ‘Tramlation of the accounts nto presentation currency. For the purpose of presenting the ranclal statements, the assets ae abies are transaind frm the funcional cuoncy to Australian dotars using the closing exchange rate, Income and expenses are traneisted sing the average rat forthe period. Exchange ferences arising onthe translation ofthe accounts are recognised inthe statement of changes in equly and are nt reiassifd othe income and expendture ‘sateen ‘The large exchange dinerences relating tothe current Agures and the comparatives ar as resut ofthe dierent closing exchange rate prevaing st both 31 December 2017 and 31 December 2018. This was due toa continued fan UK Sterng following the EU referendum in June 2016. As the historical non-monetary assets 18 not retranelated, this ference has also sflected the lems where non-monetary asses are incuded. [NOTE 2: CASH ON HAND 218 27 s ’ (Cash a bank — uarodtced zastess 16,038,162 “otal cash on hand 23,382,528 16,039,152 [NOTE 3: INVENTORIES OM HAND 28 aw ’ s ‘Atcost Stock ‘Athistonecost on a frtin, ret out basis 1903,806 1,818,976 1,903,806 1.818.976 NOTE 4: ACCOUNTS RECEIVABLE AND OTHER DEBTORS. (Corporation tax (UK) Payment on account Other debtors Church of Scientology Religious Education College inc Financial Report for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 NOTE 6: FINANCIAL ASSETS. NON-CURRENT \nvestments in unisted corporations at cost NOTE 6: PROPERTY, PLANT AND EQUIPMENT LAND AND BUILDINGS Land ~ at cost ‘Bunding and bolting improvements at cost Less accumulated depreciation ‘Total and snd biking improvements LEASEHOLD PROPERTY Leaseholt property and improvements ~ at cost Les scotmmuted deprecation “Total essehokd property improvements PLANT AND EQUIPMENT Furs and tings ~ at cost ‘Less accumulated depreciation “ota plant and equprment MOTOR VEHICLES Motor vehicle ~ at cost Less socumutated deprecation Total mor vehicles ‘Exchange diference on foreign tanaaion otal property, plant and equipment [NOTE.7: ACCOUNTS PAYABLE AND OTHER PAYABLES ‘Amounts cwed o group undertakings DDefered receipts on capital grant UK VAT payable ‘Accruals and other crdtors Arvounts payable to afated organisations: (Church of Scientology Intemational (Church of Scientology Flag Service Oranistion 10 2018 ar s s Trea 742631 zoe zor 6.004.142 6,004,142 eea7s014 — 22023.480 1.204.808) (0,048,008) _S384z70 Tomes 7.395.904 674.181) 8.061,763 24012529 21,903,586 62,111) 12021 40s 2,258,009 s.r) 2r14ss 303.8573 4700649 4367.85 seasi267 11,271.86 9,888,079 3573314 _ 26,800,878 Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018, NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 [NOTE 6: LOANS FROM RELATED ORGANISATIONS Loans fom rated organiations ‘An anaysis ofthe maturity of the loans is given below: ‘Amounts fang due in more than fve years Repayable otherwise than by intaknents: ‘Other loans more then 5 years noninstakments 261 17,619490, 19892351 _ 17,610,400 [NOTE 9: LEASING COMMITMENTS. 2018 m7 s 8 ‘Operating Lease Commitments ‘Being for rent of premies. ‘Payable — minimum lease payments: = nottater than 12 ths douse 59358 = between 12 months and fhe years re5e64 117,896 = ator than ve yours seas 83.018 2re7a2 526,112 [NOTE 10: CASH FLOW INFORMATION 28 207 s s ‘Reconeilation of Cash Flows from Operating Activites with Met Current ‘Year Surplus Net cunt year suplus 4esees 7,508,745, Non-eash Rowe: Depreciation and amortisation pence Sossa14 3872507 Loss on teposal of propery, pant and equipment ws 78812 Geant roleased usss87) (438.070) ‘Changes in assets and Habis: Increase in aecounts receivable and other debtors Increase/(decrease) in accounts payable and other payables Incroasel(decrase) in staf provisions Increase in ventories on hand ecreasefncreese) in prepayments " Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 NOTE ‘1: RELATED PARTY TRANSACTIONS ‘Church of Scentoogy Rebgious Ecation Colege nc (COSREC and other churches inthe UK and around the wort ‘Shar siar alms and fom te to tne provide mufual assistance to each other and therefore arguably qual as related ‘ails aa defined by AASB 24 and FRS102. COSREC! received suppert by way of donations and purchases of goods and ‘services from Church of Sdlentolgy Itemational and ke subsiasies. During the yor, COSREC! recebved donations of $581,657 2017: $75,908), purchased books ane ther Hlarature fo a value of $2.284.247 (2017: $1,967,377), and was. ‘charged $5,236,008 (2017: $4,008,004) for ecclesiastical managoment services and courses. Church of Sclentology Intemational leo pad $2,611,104 (2017: $2,489,926) in respect of bulking and leesehok! improverents and nil 2017: £205,904) ie reapac of fumure and equipment ans, in adlon payments of $53,480 (2017: $118,304) were held on ‘count for ture bulking mproveronts. AL the year end, $68,206,436 (2017: $54,995,827) wes due to Church of ‘Scientology Intemational and ks subsidies and of this amount $1,902,538 (2017: $1,722,962) is inched in Note 7 under “Aezruia and other eects” and $45,952,631 (2017: $42,282,008 s lnctuded in Not 8 under “Loans om etated ‘rpanistions”. Iyarst at he rat of 9% was charged onthe lars, ‘Ath year ond there wore Joans oufstanding from Church of Sclentology Intemational of $28,227,740 (2017; $26,889,180) ‘and ia included in note 8 under “Loans from related organisations”. The lan i tobe repaid over a period offve years, ‘unless the to i exened by agreement Interest of $1,205,817 (2017: $1,181,322) was charged inthe year. ‘Att yoar ond there was a Joan outstanding from Sclertology Intentional Reserves Trust of $9,586,951 (2017: $8,764,659) and this is shown in Note 8 under “Loar fom related organisations". The loan iso be rep over a period of ‘hve year, unless the tx i extended by agreement ntree ls chargeable at 5% p.8 Church of Scientology Fig Service Organisation charged 3580.57 (2017: $807 920) for courses provided to COSRECI. AL ‘the year end, $11,079,378 (2017: $9,538,070) was due to Church of Scientology Flag Service Organisation and this amour 'sincuced In Noe 7. The amount had increased (2017: increased) inthe period by intrest charged of 241,470 (2017: $806,863), and vas reduced in the period by opeymonts of $126,913 (2017: $173,667) and exchange ferences of $646,160 2017: nereaned by $314,745). In summary, the year ond, $79,048,873 (2017: $66,444,186) was due to, and ni (2017: nl) was due fem rested ‘exganieatins. In adaion, COSRECI receled donations from other churches amounting 1 $917,780 (2017: $816,606), ‘Atte year end there was loan outstanding from Church of Scentalogy Celebrty Centre International f $2,118 428 @2017: '51.917,820) and this amount i abown in Note 7 undetAccrule and other cedors". The loen wae increased by nil 2017: ri) inthe period. The amount hed decressed (2017: decreased) inthe pete by exchange ditoronces of $4,057 (2017: $42,883) and intaest charged of $63,082 (2017: $46,565). The loan iso be repaid over a pedod often years, unless the tom fs extended by agreement. [Althe yearend an amount of $167,317 (2017: $260 822) was due fom Church of Sciniology and Cornmunty Cette of Cn anced win "ier Detr” nce 4. Ding te year ants were donated ote onneaon wh ta abe of $100,498, “The amount of $868,139 (2017; $638,650) shown as due to group undertakings dscosed in note 7 tothe financial -talomonte resis othe balance due tothe subeldary company, Nesta Investments Limfed. COSREC! rents a property ‘tom Nesta vestments Limited, on a £0 years lease a a peppercom ret. During the year contrbutons towards office costs of $2,043 (2017: 82.911) wee received fem SOR Services (UK) Limited. UK Bukings ard Land Lite, a company ited by guarantee which has a member whos atustee of COSRECI, aquired properties n2011 which have boan lt to COSRECI on 0 yaar lease ata peppercom ret. NOTE 12: CONTINGENT LIABILITY “Two entity does not accout for deferred income inthe United Kingdom because donation are made uncondionaly. Wile the ently hes 8 potey of proving spitiual assistance and raining in exchange for donations, this is based on internat religious practice and poy only end defering income would be misleading to the users of this report. The srnount 10 which there may be a contngert abit for undelvered religious sorics nthe UK's $64,780,925 (2017; $80,897,607). 2 Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 NOTE 13: CAPITAL COMMITMENTS. 'n October 2018 a contract totaling $10,6m wes signed forthe constuction ofa bukding. Payments totaling $499,000 had been made by 81 December 2018 ‘At the balance sheet ate there was a capa conmiment of $830,000 a relation to the extension to an exiting Dulin. ‘in August 2018 an agreement tcaling $1.8 1m was signed relating o professional services ona development Payments totaling $346,000 ed been made by 31 December 2018. 2 Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 COMMITTEE'S DECLARATION “The commitee ofthe rgistored entity declares that nthe commie’! opiion: “Tne nancial statements and notes, 28 sa ou on pages. 1 to 13 are n accordance win the Ausrain Chaniios ae Mot for pros Commission Act 2072 a a comply wth Austraon Accounting Standards; and . {9Ne 2 tue and far view of he financial postion of the registred en as al 31 December 2018 and of ts performance forthe year ended on that date “There are reasonable grounds to beeve that the resiatred ey wil be ablo to pay is dabis as and when they become due and payabie. ‘This declaration is signed in accordance with subsection 60.15(2) ofthe Australien Chariies and Not-forprofts Commission ‘Regulation 2013. 7 Dated this 77" day of June 2019 “ Church of Scientology Religious Education College inc Financial Report for the Year Ended 31 December 2018 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CHURCH OF SCIENTOLOGY RELIGIOUS EDUCATION COLLEGE INC ‘Report onthe Audit ofthe Foencial Report Opteten We have aucted the tnencal opr of Church of Sclertlogy siglo Eauoaton Cobege in Not Fer Prom (ACN ‘Non-reporing) (he rehired ey), wich comprecs rancid posi as et 31 Deceber 2018, the statement for rf and oes and oer comprehensive nome, sstoment of changoa in equ ae statement of com How fr the your {hen ended, nots coptsng a sumer of gaint secountng pies and oer explanatory formation, andthe ‘commiies’ decaraon In ax opin, the accompanying franc! eport of Church of Scteractogy Regious Eauoaton Cotege ne Not For Prot (ACNC Nor-eportng) has been prepared in accordance wit DW. 60 ofthe Ausralen Chae and Notfor- ‘rots Commaion Act 2012 (ACN Act cc © vega rum ane tr view of te regard ents financial postion as at'31 December 2018 an oft farted perormance forte yor thn ended: ant (®_complyng wen Austraan Accounting Standart othe eter doscrbed i Not f, nc v.60 othe ‘Austen Cheries end Not4or prota Conmielon Regula 2013, Bae tor Opinion We conduct our aud in accordance wih Austalen Austin Standards. Our responabies under thee stnerds are futher doecrbed fh the Audtors Responses forthe Aut ofthe Fanci! Raper sacton of ou oper. We are ‘nopendent ofthe regtered enty in accordance wth the ACNC At, he ehicalrequrernonts othe Accounting Professional an Ethel Standards Boards APES 110: Code of Ethics for Prosatnal Accountant (ve Cade) tat are relevant io our aut fhe nancial report in Australia. We have slo filled our ator etic! exponen in ‘sevondance wi the Code. ‘Wa bate te! the aut evidence we have cbtuned sfclent end spproprite 1 prove 8 bas for cur opinion, Emphaaia of Matter - Bests of Accounting We donation to Note {10 he fancier, wich dasroan the bast of sccourting. Th fare epert has ‘been prepared forthe purpose of funlng the registred ent’ nancial reporting reaporabltes under the Ausraan (Charen and Not tor profs Carmien Act 2012. Asa reut the nance report may not be sable for enor purpose. Ou plnon i not modified in reapect of te mate. eeponaitties ofthe Comentie forthe Financial Report ‘Tho commateg of he rogtored entity are responsi forthe propeation of the facil report that ges ate and a iow and hve detomined that he baste of preparation described x Noe 1 to the franca report is appropriate fo moet the requtemerts ofthe Ausra Charts an Nofr grote Commision Act 2012 and appropriate meet he ‘needs ofthe members. The commie's respon io inctres such intemal conta ae the comnts detcrne ‘necessary to enable the preperation ofa franc report hat Qos ae and far view anda ro rom mater mictatarent wheter ve ofa of ere. |p preparing the franc! repr, the commites are responetie or assessing the rhtaed ey abit fo conanue 26 ‘going concer, acosing, ax wopcable, ators elaing to gain concer and ung the gala concer base of ‘scouring unens the comnts eter intends o quel he reared arty oro caaee operators, oF has ‘reac aterative blo do 90. ‘Auctor's Rasporalilites forthe Mut ofthe Financial Report (Our objectves ae tn obtain reasonabe asurance about whether the facil report a whee fem on mated ‘mlotatemert, whether do to faut rare, ad to laue an soho’ report that nates our ophon. Reasonable ‘eseurance a high evel of surance, ate not a guanine tht an au conehctd in acondance wth he Australian ‘Auing Stacdarts wit sry etc a materi misstatrent when exo. Mietaterents can are rm ra of ‘or ond are conekdered matrl ,ncidualy orn the aggregate, hey could reasonably be expected otence the ‘economic decisions of users taken onthe base of thie Shanca repr. ‘As part an aut In accordance with Aucrakan Aucing Standards, we exercise profesional kxgoment and mnain roessional scepicem trcughout the aust. We alo: 6 Church of Scientology Religious Education College Inc Financial Report for the Year Ended 31 December 2018 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CHURCH OF SCIENTOLOGY RELIGIOUS EDUCATION COLLEGE INC ——Sonty are seness te ss fate riaatamért fhe feancalrepert, whether duet taut or arr, niga ‘rc porto auc procedures responsive othove rik, and obtain aut evidence that suit ad “sp propia prove at or uF opinion. The ik ft detecting & mater mistatorentreuing fram ‘feud ia hghor hen for one resting for err, ex rau may inv colon expe, enone oiesons, ‘mlropresertatre, ofthe overise of itera conto. Ota an understanding of tome conto relevent the ud in oer o design aud procedre thet aro _aperopre inthe rumstanes, but ot forthe purpose of expect an opinion onthe ffctveneen ofthe rgitered erty’ ital cook alate the approprtones of accountng pols ued andthe reesonablnoes of accounting ets and ‘elated ecionures made byte corti. = Conca onthe approptaneas of th commtie's use ote golng concer bass of accounting and, based on ‘he mek ecence oboe, wher Amana nena et lead everson ly cast stgrticant dot onthe regstored ett’ bly fo continue a a going concen f we conclude tha mati ‘cory es, we are equted to caw stiention in ou autor repr to there celoures in the ‘nancial repr cx. euch decicouros ae inadequate to modify eur pion. Our conker based en the ‘ut evidence ctained Up >the dla of our ators report However, flue evens o colons my case the rogltored entity cease continue a aging concom. = Evie the overal presentation ruc and content ofthe franca por, ncn te dacosre, eb whether the financial report represents te underying Fansectons and veri na manner hat acioes fr resentation. = Ottan suricten ppropat aut evens rearing the trancia infomation oho reitared ees or assess ects within he Group express an opin on he fancil report. We are reponse fr tho

    Vous aimerez peut-être aussi