2014 Annual Report

2014AnnualREPORT

To make a difference in the lives of people in our community

Providing practical HomeLiving services that promote choice, lifestyle and independence

Our Vision

Our Purpose

OUR SNAPSHOT

THE YEAR IN REVIEW

DISCUSSION AND ANALYSIS OF THE FINANCIAL STATEMENTS

OVERVIEW OF FINANCIAL POSITION

FINANCIAL STATEMENTS

OUR CLIENTS

CHAIR, TREASURER & CEO REPORT

DIRECTORS’ REPORT

04-05

06-09

24-25

34-35

26-33

10-13

14-15

16-23

OUR SNAPSHOT

Adssi HomeLiving Australia 2014 ANNUAL REPORT 04

Clients 4244 (plus approx 4,200 VHC) Employees 85 Volunteers 23 Business Partners 56 Areas of Delivery The Central Coast, Northern Sydney and the Hunter

Services Home Care Packages Domestic Assistance Social Support Respite Programs Linen Service Support for clients living with Dementia ComPacks (Home from Hospital Care) Garden and Lawn Maintenance Case Management Veterans’ Home Care Assessment Agencies Occupational Therapy Private Services (user pays) Home Modifications and Maintenance

Total Income: $9.44 Million Net Assets: $1.45 Million Accreditations: Building Services Team were audited against ISO 9001 in May 2014. Certification was maintained. The organisation is compliant with government funding requirements, environmental standards, and WHS legislation.

Adssi HomeLiving Australia 2014 ANNUAL REPORT05

THE YEAR IN REVIEW


2013-2014 has been a successful year for Adssi HomeLiving Australia (AHLA), characterised by innovation, system enhancement, community engagement and modest expansion as we continue to prepare for the anticipated Federal Government aged care reform changes.

We were thrilled to again be nominated in the national Hesta Aged Care Awards – Team Innovation. The project was funded via a grant of $5000 from Central Coast Medicare Local which enabled us to form a joint initiative with Central Coast Meals on Wheels to deliver two ‘Cooking For Me and You’ programs.

We produced a promotional video featuring our clients talking about the range of services and support they receive. We also participated in the production of a Consumer Directed Care video in conjunction with other service providers and agencies, which will assist people transition as part of the Government’s reforms.

Our online presence continues to evolve including a steadily growing Facebook community and an updated website with the added features of various languages. Traditional communication continues via the publication of bi-monthly client newsletters.

As a commitment to the reduction in our use of resources, we installed solar panels on our roof this year through a grant of $20,000 via the Government’s Green Energy Grant. In the 13 months since installation, we have saved over $9,000 and 29.15 tonnes of green house gas emissions from entering the environment.

Once again we had strong representation in the Novaskill Trainee of the Year Awards and continue to offer opportunities for staff development through a number of avenues.

‘Cooking For Me and You’ ProgramHesta Aged Care Awards 2014


With financial assistance from the Workforce Innovation Network (WIN), we were able to research, develop a business case, purchase and implement a new Quality Management/Human Resources System to further increase our efficiencies and processes. To support our quality focus, we have created a Quality Council which meets quarterly.

We completed our first full year as a Veterans’ Home Care Assessment Agency and met all of the Department’s compliance requirements. Our Building Services Department was successfully audited against ISO 9001.

Throughout the year we continued to deliver the popular ‘Stepping On’ falls prevention programs through funding provided by the Department of Health (NSW); we commenced a Consumer Directed Care pilot in preparation for the transition of our Home Care Packages in 2015, and were successful in our submission to retain our ComPacks funding which supports patients with case management and home care services for up to 6 weeks post hospital discharge. In early 2014 we were heavily involved in the coordination and delivery of the ‘Elephant in the Room’ Conference held in Terrigal, including providing expert guest speakers as well as exhibiting to delegates who travelled from all over Australia to attend.

Community participation included Walk in the Park, Carers Week, The Entrance Rotary Club’s Pride of Workmanship Award; Multicultural Expo; Occupational Therapy Awareness Week; International Day of Disability Masquerade Ball Committee; Ageing Life Over 55s Health and Wellbeing Expo and Wyong Council’s Seniors Week. We conducted client surveys and ran focus groups to gather feedback to inform our strategic decision making.

We continued to network via many local and state groups including COTA Regional Consumer Reference Group; CCLHD – Consumer and Community Engagement Committee; CCADA; CC Positive Ageing Strategy Community Reference Group; WIN Industry Reference Group; CC Regional Advisory Council for NSW Business Chamber; ACS Community Care Advisory Group and Central Coast Medicare Local’s Aged Care Taskforce.

Government liaison continued through participation in reviews of service types with Department of Social Services (DSS), DisabilityCare Round Table discussions with Minister Ajaka, as well as ADHC Sector Planning Framework Meetings.

We were successful in our applications for funding from NSW HMMS State Council ($58,370) and a Clubs NSW Grant ($6,818) which assisted in the management of our waiting list for Occupational Therapy home assessments for clients needing home modifications.

Activities conducted in 2013-2014 have placed Adssi HomeLiving Australia in a strong position to continue our preparations for the major changes in the Aged Care Sector which will occur from 1 July 2015.



OUR CLIENTS


Following an Occupational Therapist’s (OT) assessment, our building services team built and installed this access ramp (left) to make life easier not only for our client, but for his wife too, who previously had to assist with access in and out of the home. ‘We are very happy with the work and the ramp has definitely made our lives easier and safer’, the couple said. Importantly, our building services team designed and constructed the ramp in line with the Occupational Therapist’s specifications and Disability Access Standards, ensuring the gradient is safe and the handrails appropriate. This is another great example of how AHLA’s support can assist people to stay living independently in their home and community.

We’ve supported many clients to improve their lifestyle. For some these are small changes, for others, they are more significant but with the same result; the choice and independence to stay living in their own home and community. We’ve shared some stories here.


LeeAnn is one of our clients who is cared for by her Mum, Deidre. Adssi HomeLiving Australia supports LeeAnn and Deidre by providing care and respite. In September, LeeAnn and Deidre were named Manly Warringah Sea Eagles Rugby League supporters of the year. They have attended all Manly home games this year regardless of the weather and have also attended some of the away games, including planning their first holiday in 20 years to coincide with the game against Auckland Warriors in New Zealand. A very excited LeeAnn and Deidre were presented with their award in front of a huge crowd, prior to the main game at Brookvale Oval, by Sea Eagles LEGEND Steve Menzies and David Perry.

Adssi HomeLiving Australia’s case manager Amanda successfully supported Kylie to navigate the process of buying, setting up and settling into a new home earlier this year. Kylie has a mild intellectual disability, and is very socially isolated. To assist Kylie, the process involved applying to the Guardianship Tribunal for short-term financial assistance from the Public Trustee and endless negotiation with real estate agents, banks and conveyancers. Along the way, Kylie required three months temporary accommodation, storage of her belongings and care organised for her dog whilst she was in the temporary accommodation. Amanda liaised with Kylie’s interstate family and other parties and assisted her to remain emotionally afloat during a very stressful period. Kylie is now a proud home owner, is managing very well and recently participated in a short cooking program conducted by Adssi HomeLiving Australia to further support her living independently. Kylie now receives just one hour social support a week and case management is helping her become established in her new home and community, assisting with home modifications and repairs and establishing a financial plan to enable her to manage her own bills.

LEEANN’S STORY

KYLIE’S STORY



CHAIR, TREASURER & CEO REPORT


It is with pleasure that we report to you on Adssi HomeLiving Australia’s (AHLA’s) achievements for 2013-2014. The Board, staff and volunteers of AHLA are committed to making a difference in the lives of people in our community and to providing the services that can promote client choice, lifestyle and independence. We would like to thank our clients – it has been our privilege to provide you with services and support over the last 12 months.

This year, we provided services to approximately 8,000 clients – to people living in the Northern Sydney, Hunter and Central Coast communities. We would not have been able to support these people to continue to live safely in their own homes without the assistance of a number of stakeholders. We would like to take this opportunity to thank our funding bodies – Department of Social Services (Formerly Department of Health and Ageing), Family and Community Services - Ageing, Disability and Home Care, NSW Ministry of Health, Department of Veteran Affairs; our loyal staff and volunteers, and the many businesses that support both AHLA as a business and also those businesses that provide services on our behalf to our clients. In particular, we would like to acknowledge our volunteers who are so generous with their time and commitment to support AHLA and our clients. Without this very committed group, we would not be able to provide the level of support to our clients that we currently do.

This year we have continued our preparations in readiness for the significant aged care reforms that are planned for 1 July 2015, informed by Year 1 of our new Strategic Plan 2013 – 2014 and its deliverables. This year we focused on understanding what was important to our clients; preparing our staff for changes in the sector, including Consumer Directed Care; developing our systems in particular our Quality and HR systems, and focusing on our finances to understand the true cost of all our services.

We had a modest growth in income of $86,434. The surplus for the year was $94,000 ($85,000 in 2012-2013). Equity increased to $1.45 million. The year was a strong year financially with all financial ratios increasing, including the liquidity ratio which rose to $1.36 ($1.29 in 2012-2013). We received extensions for two of our contracts – Compacks Program to 30 November 2015 and National Respite for Carers Program to 30 June 2015, bringing it into line with the majority of our funding agreements.

There have been no changes to the Board in the last twelve months – with the same team of seven directors. Thank you to a very committed team for their support, interest and belief in a great organisation. This year, we introduced a Strategic Expansion Taskforce to the range of Board Subcommittees/Taskforces to guide senior staff in the identification and prioritisation of key business opportunities.

A number of new projects were undertaken; we continued to promote and grow our commercial services, and to embrace social media and technology. We will continue to focus on these important areas of our business in 2014-2015.

Year 2 of AHLA’s Strategic Plan will further prepare us for the changes that will occur from 1 July 2015. We will concentrate on developing and supporting our staff; reviewing our systems and processes to ensure we continue to deliver cost effective and high quality services, and looking for expansion opportunities. Most importantly, we look forward to supporting our clients over the coming year and providing services that do make a difference to them.


DIRECTORS’ REPORT


Your Directors present their report on the company for the financial year ended 30 June, 2014.

DIRECTORS

The names of the Directors in office at any time during, or since the end of the year are:

Stephen CookRalph BrownPamela WoolfeClive BluntAdele JohnsMark BatemanSusan Guest

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

PRINCIPAL ACTIVITY The principal activity of the company during the financial year has been to coordinate and/or provide support services to frail aged people, people with disabilities and carers of those people.

No significant change in the nature of these activities occurred during the year.

OPERATING RESULTS The profit of the company for the financial year amounted to $93,855 (2013: $84,751). The company is exempt from income tax.

REVIEW OF OPERATIONS

Adssi HomeLiving Australia (AHLA) provided services through eighteen programs to approximately eight thousand clients. We received additional non-recurrent funding this year of $95,000 which was used to run an innovative cooking program; celebrate Seniors and Carers Weeks; assist in addressing the lengthy wait period for Occupational Therapy home assessments, and system improvements. AHLA successfully renegotiated its Ministry of Health’s ComPack funding until November 2015. The contract for the National Respite for Carers Program was extended until 30 June 2015. Deliverables for Year 1 of AHLA’s Strategic Plan for 2013-2014 were achieved. AHLA reviewed its organisational structure in readiness for proposed aged care sector reforms and continued to expand its community support workforce.


SHORT AND LONG TERM OBJECTIVES Key deliverables were achieved in all five strategic areas in Year 1 of AHLA’s Strategic Plan 2013-2016: Strategic Initiative 1 - Our Clients: A client experience strategy was developed and implemented. The strategy was informed through client feedback and focus groups. A marketing and communication strategy and a client engagement and education strategy were also developed to ensure consistent key messages were delivered to clients and to increase AHLA’s participation in community events.

Strategic Initiative 2 - Our People: A change management strategy was developed and implemented. This strategy ensures that staff are informed of, and are ready for changes in the Sector.

Strategic Initiative 3 - Our Systems: Improvement of key business systems was driven through an internal quality auditing system approach combined with a focus on continuous improvement. An overarching Quality Improvement Plan was developed to ensure improvement activities were identified, prioritised and completed.

Strategic Initiative 4 - Our Quality: After research and review of alternate systems, an electronic quality management system which incorporates key HR components, was purchased and went “live” in March 2014.

Strategic Initiative 5 - Our Services: Significant progression was made on the financial strategies to establish true cost of services; to develop a financial strategic plan and to prepare for new reporting requirements.

STRATEGY FOR ACHIEVING FUTURE OBJECTIVES

Year 2 of the Strategic Plan will build on AHLA’s achievements from 2014 by a continued focus on exceptional client centred and enabling services across all programs; support and development of staff in preparation for further Government reform; system reviews and improvement; development of a tender management system, and a review of AHLA’s business model to ensure that the organisation responds to stakeholder feedback; maximises income opportunities, and offers a continuum of care to its clients.

KEY PERFORMANCE INDICATORS

Key Performance Indicators for Strategic Projects under Year 2 of AHLA’s Strategic Plan include specific qualitative and quantitative data, strategies, plans and reports. This information is presented to AHLA’s Board on a quarterly basis. Operational key performance indicators include service outputs under funding agreements; bi-annual and annual financial acquittals and reports; results of client and staff surveys and annual staff performance appraisals, and data on client numbers and income sources.

SIGNIFICANT CHANGES DURING THE YEAR In consultation with the Governance Subcommittee, a new Board meeting structure was developed to ensure the Board had sufficient time to focus on strategy. A new Strategic Expansion Taskforce was established to provide guidance for senior staff and the Board on the evaluation of expansion opportunities and to set priorities. A pilot Consumer Directed Care Project was commenced to ensure that AHLA systems are ready for the transition of all Home Care Packages to a CDC model from 1 July 2015.

A number of significant system improvements were made during the year with the implementation of an electronic quality and human resource management system; integration of some finance functions with AHLA’s client management system, and mobilisation of our direct care workforce through system access provided by an app on mobile phones.


AFTER BALANCE DATE EVENTS

The General Manager Operations position became vacant on 15 August 2014 and we are currently recruiting a General Manager Services. No other matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company, the results of those operations, or the state of affairs of the company in future financial years.

FUTURE DEVELOPMENTS

A new telephone system, originally scheduled for 2013, will be installed to allow cost savings to be realised and to provide a more interactive experience for clients. AHLA will continue to recruit additional community support workers. Mobile devices will be expanded across a number of teams to increase efficiencies and reduce cost of service.

COMPLIANCE

Work Health and Safety Management System:AHLA maintains effective WHS policies, practices and procedures to ensure ongoing compliance with WHS legislation. Home Care Standards (previously Community Care Common Standards):AHLA was audited against the Home Care Standards in 2012-2013 and was determined to be compliant. Quality: AHLA’s Building Services Department was audited against the ISO9001:2008 Quality Management Standard in May 2014 and was determined to be compliant. Environmental Management System Accreditation:AHLA complies with Government funding requirements and continues to improve environmental systems that are accredited under NSW Environmental Management System Guidelines.

INDEMNIFYING OFFICER OR AUDITOR

During the year, the Company affected a directors and officer’s liability policy. The insurance policy provides cover for the directors named in this report, the company secretary, officers and former directors and officers of the company. This policy prohibits the disclosure of the nature of the indemnification and the insurance cover, and the amount of the premium. No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is an auditor of the Company.


QUALIFICATIONS Formal: 1. Certificate IV in Corporate Governance 2. Certificate IV in Management and Team Leadership 3. Internal Auditing - SAI Global 4. OHS for Supervisors and Line Managers 5. Grievance Handling - Anti Discrimination Board NSW 6. Equal Employment and Harassment Prevention - Anti Discrimination Board NSW 7. Instructor of Lean Manufacturing - CTPM Industry: RESPONSIBILITIES

Meetings BoardAnnual General Meeting

Service Quality and Clinical Governance

Subcommittee

Governance Subcommittee (formally the TAGS

Taskforce)

Strategic Expansion Taskforce

Finance Subcommittee

Attendance 10 1 2 2 2 0

Possible 11 1 3 4 3 0

Board Chair/Service Quality and Clinical Governance Subcommittee/Governance Subcommittee/Strategic Expansion Taskforce/CEO Recruit, Review, Remuneration Committee

1. Member Australian Institute of Company Directors (MAICD)

STEPHEN COOK

QUALIFICATIONS Formal: 1. Bachelor of Health Administration BHA (NSW) 2. Accounting Certificate FCPA Industry: 1. Chair of Consumer and Community Engagement Committee of Central Coast Local Health District 2. Fellow , Australian Society of Certified Practising Accountants RESPONSIBILITIES Treasurer / Chair Finance Subcommittee / Strategic Expansion Taskforce

RALPH BROWN



Subcommittee


Taskforce)




Possible 11 1 0 0 3 11

INFORMATION ON DIRECTORS


PAMELA WOOLFE

QUALIFICATIONS Formal: 1. Bachelor of Nursing 2. Registered General Nursing Certificate 3. Midwifery Certificate 4. Master of Nursing Research Industry: 1. Nursing, Community and Primary Health Care

RESPONSIBILITIES Chair Service Quality and Clinical Governance Subcommittee / Client Representative

CLIVE BLUNT

QUALIFICATIONS Formal: 1. Master Business Administration (Monash 1992) 2. Certified Sustainability Advisor 3. Certified MBTI Practitioner 4. Certified Six Sigma Practitioner Industry: 1. Australian Prudential Regulatory Authority - Member 2. Australian Institute of Management - Member 3. Australian Institute of Credit Management - Member RESPONSIBILITIES Vice Chair/CEO Recruit, Review, Remuneration Committee/Chair Strategic Expansion

Taskforce/Governance Subcommittee



Subcommittee


Taskforce)




Possible 11 1 0 3 3 1



Subcommittee


Taskforce)




Possible 11 1 3 0 0 0


ADELE JOHNS

QUALIFICATIONS Formal: 1. Assessment & Workplace Training Certificate IV 2. Associate CPA 3. Certificate IV Team Leadership 4. Bachelor of Commerce 5. Advanced Commerce Certificate 6. Advanced Secretarial Certificate Industry: 1. Sydney Leadership 2. School for Social Entrepreneurs 3. Executive and Committee Member – various community service NFPs 4. Member Australian Institute of Company Directors (MAICD) RESPONSIBILITIES Finance Subcommittee



Subcommittee


Taskforce)




Possible 11 1 0 0 0 11

MARK BATEMAN

QUALIFICATIONS Formal: 1. Registered Nurse 2. Intensive Therapy / Care Certificate 3. Certificate IV in Frontline Management 4. Real Estate Institute of NSW Certificate of Registration 5. OH&S Consultation

Industry: 1. Residential Aged Care Manager 2. CEO/DON roles in private hospitals (previous) 3. Business Development Manager (previous)



Subcommittee


Taskforce)




Possible 11 1 0 0 0 0


SUSAN GUEST

QUALIFICATIONS Formal: 1. Graduate Certificate in Commerce 2. Accounting Certificate 3. OH&S Consultation 4. Financial Planning Principles and Practice 5. Diploma of Financial Markets Industry: 1. Institute of Internal Auditors 2. Securities Institute of Australia 3. Member of Australian Institute of Company Directors (MAICD) RESPONSIBILITIES Chair Governance Subcommittee, Finance Subcommittee (when required)



Subcommittee


Taskforce)




Possible 11 1 0 4 1 2

RELATED PARTY TRANSACTIONS

These transactions ocurred in the usual course of business at the usual community rate.a) During the year, subcontractors who were related to AHLA staff, provided services to AHLA clients under a brokerage agreement at commercial rates as arm’s length transactions in accordance with AHLA policies and procedures.b) During the year, services were provided to clients of AHLA who are relatives of staff members in accordance with AHLA policies and procedures.

MEMBERS’ LIABILITY

In the event of the winding up of the Company, each member is liable to contribute $2 to the outstanding liabilities of the company. The members’ liability in the event of the company being wound up is $16, as there are 8 members.

NON-AUDIT SERVICES

The amount paid to the auditor for non-audit services provided during the financial year by the auditor are:

Name of Firm Amount Nature of Service Bishop Collins $12,740 Management Accounting (Other Services) The directors are satisified that the provision of non-audit services during the financial year:- is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001; and- did not compromise the auditor independence requirements of the Act, because of the nature of the activity and the amount involved.

The above statements are made in accordance with the advice provided by the Company’s Finance Subcommittee.



DISCUSSION AND ANALYSIS OF THE


Information on ADSSI Limited trading as Adssi HomeLiving Australia

FINANCIAL REPORT

This financial report is an extract from the General Purpose Financial Statements for the year ended 30 June 2014. The discussion and analysis are provided to assist members in understanding the financial report. The financial statements and disclosures in the financial report have been derived from the audited 2014 financial report of ADSSI Limited. This financial report is unaudited and a copy of the full General Purpose Financial Statements and Auditor’s Report will be made available to any member, upon request.

STATEMENT OF COMPREHENSIVE INCOME

The net surplus from ordinary activities was $93,855. This compares to a surplus of $84,751 from the previous year. The increase in employee costs reflects the increased amount of services provided to clients this year.

Revenue increased by $86,434 to $9,440,260 compared to $9,353,826 in 2013. Non recurrent income of $95,584 was received compared to $393,496 in 2013, the decrease reflecting the changes to government funding policy. Interest received on investments decreased due to lower market interest rates.

AHLA received non recurrent funding from NSW Home Modification & Maintenance Services State Council of $58,370 to assist with providing timely occupational therapy assessments to minimise the risk to HACC clients while waiting for home modifications.

We were successful in receiving $19,000 Workforce Innovation Network Grant funded by the Australian Government and managed by the Community Services & Health Industry Skills Council. The funding will assist AHLA to prepare for the changes as a result of the Aged Care Reform Agenda.

STATEMENT OF FINANCIAL POSITION

The statement of Financial Position shows the company in a strong position as at 30 June 2014 with excess assets of $1,455,495, compared to $1,361,640 in 2013. There has been an increase in current assets resulting in an increase in the current ratio from 1.36 compared to 1.29 last year.

STATEMENT OF CASH FLOWS

There was a net increase of $133,762 in cash held this year due to positive cash flows from operating activities. The negative cash flow from investing and financing activities reflects movement of non current assets and financial liabilities.




STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2014

Note 2014 ($) 2013 ($)Revenue 2 9,410,822 9,334,341

Other income 2 29,438 19,485

9,440,260 9,353,826

Audit, Legal and Professional Services (96,313) (46,740)

Advertising expenses (26,871) (59,591)

Bad and doubtful debt expenses (12,573) (17,208)

Client expenses (2,449,347) (2,878,739)

Computer expenses (65,372) (95,249)

Depreciation and amortisation expenses 3 (209,427) (193,828)

Employee benefits expenses (4,777,920) (4,211,823)

Finance costs 3 (73,764) (54,873)

Loss on disposal of non current assets - (1,484)

Materials (159,275) (142,857)

Motor Vehicle expenses (155,328) (142,807)

Non recurrent expenses (20,005) (182,032)

Occupancy expenses (176,301) (163,583)

Subcontract labour (694,956) (610,955)

Insurances (150,752) (174,526)

Other expenses (278,201) (292,780)

Profit before income tax 93,855 84,751

Income tax expense 1 - -

Profit for the year 93,855 84,751

Other comprehensive income after tax - -

Total comprehensive income for the year 93,855 84,751

Total comprehensive income attributable to members of the entity 93,855 84,751


STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2014

Note 2014 ($) 2013 ($)ASSETSCURRENT ASSETS

Cash and cash equivalents 4 227,451 93,690

Trade and other receivables 5 371,362 356,674

Financial assets 6 940,667 905,425

Other current assets 7 56,697 33,802

TOTAL CURRENT ASSETS 1,596,177 1,389,591

NON-CURRENT ASSETSProperty, plant and equipment 8 2,333,974 2,422,427

Intangible assets 9 59,932 81,332

TOTAL NON-CURRENT ASSETS 2,393,906 2,503,759

TOTAL ASSETS 3,990,083 3,893,350

LIABILITIESCURRENT LIABILITIESTrade and other payables 10 1,118,899 1,044,225

Provisions 11 143,572 121,211

TOTAL CURRENT LIABILITES 1,262,471 1,165,436

NON-CURRENT LIABILITIESFinancial liabilities 12 1,126,568 1,235,593

Provisions 11 145,549 130,681

TOTAL NON-CURRENT LIABILITIES 1,272,117 1,366,274

TOTAL LIABILITIES 2,534,588 2,531,710

NET ASSETS 1,455,495 1,361,640

EQUITYRetained earning 1,455,495 1,361,640

TOTAL EQUITY 1,455,495 1,361,640


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2014

Retained Earnings ($) Total ($)Balance at 1 July 2012 1,276,889 1,276,889

Profit attributable to members 84,751 84,751

Balance at 30 June 2013 1,361,640 1,361,640

Profit attributable to members 93,855 93,855

Balance at 30 June 2014 1,455,495 1,455,495


STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2014

Note 2014 ($) 2013 ($)CASH FLOWS FROM OPERATING ACTIVITIESReceipts from customers 2,850,755 2,031,836

Payments to suppliers and employees (10,010,514) (8,850,062)

Interest received 59,419 76,912

Borrowing costs paid (73,763) (54,873)

Receipts from government grants 7,522,268 6,839,420

Net cash provided by operating activities 17 348,165 43,233

CASH FLOW FROM INVESTING ACTIVITIESProceeds from sale of property, plant and equipment 66,300 96,700

Proceeds from sale of investments - 643,246

Payments for property, plant and equipment (136,438) (1,965,288)

Payments for investments (35,242) -

Net cash used in investing activities (105,380) (1,225,342)

CASH FLOWS FROM FINANCING ACTIVITIESProceeds from borrowings - 1,295,000

Repayment of borrowings (109,024) (59,407)

Net cash provided by (used in) financing activities (109,024) 1,235,593

Net increase in cash held 133,762 53,484

Cash at beginning of financial year 93,690 40,206

Cash at end of financial year 4 227,451 93,690


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2014

1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements are for ADSSI Limited trading as Adssi HomeLiving Australia as an individual entity. ADSSI Limited trading as Adssi HomeLiving Australia is a company limited by guarantee, incorporated and domiciled in Australia. Basis of Preparation ADSSI Limited trading as Adssi HomeLiving Australia applies Australian Accounting Standards - Reduced Disclosure Requirements as set out in AASB 1053: Application of Tiers of Australian Accounting Standards and AASB 2010-2: Amendments to Australian Accounting Standards arising from Reduced Disclosure Requirements. The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements of the Australian Accounting Standards Board and the Corporations Act 2001. Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of the financial statements are presented below and have been consistently applied unless otherwise stated. The financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The financial statements have been prepared in the entity’s functional currency, the Australian Dollar.

Economic Dependence ADSSI Limited trading as AHLA is dependent upon the Family & Community Services - Ageing , Disability and Home Care, Department of Social Services, NSW Ministry of Health (Health Administration Corporation) and Department of Veterans’ Affairs for the majority of its revenue used to operate. At the date of this report the Board of Directors has no reason to believe the Department will not continue to support ADSSI Limited trading as AHLA. The financial statements were authorised for issue on 16th day of September 2014 by the directors of the company.


2. REVENUE AND OTHER INCOME

2014 ($) 2013 ($)RevenueRevenue from Government Grants and Clients

Government Grants 7,495,414 7,209,049

Fees and Client Contributions 1,720,091 1,907,273

9,215,505 9,116,322

Other revenue

Interest received 59,419 76,912

Other revenue 135,898 141,107

195,317 218,019

Total revenue 9,410,822 9,334,341

Other incomeProfit on Sale of Fixed Assets 29.438 19,485

Total other income 29,438 19,485

Total revenue and other income 9,440,260 9,353,826

Interest revenue from:Interest Received - financial institutions 59,419 76,912

Other revenue from:Sundry Income 127,219 106,707

Rebates 2,679 7,708

Workers Compensation Recovery 6,000 26,692

Total other revenue 135,898 141,107


DIRECTORS’ DECLARATION

The Directors of the Company declare that: 1. The financial statements and notes, as set out on pages 26 to 32, are in accordance with the Corporations Act 2001 and: (a) comply with Accounting Standards; and (b) give a true and fair view of the financial position as at 30 June, 2014 and of the performance for the year ended on that date of the company. 2. In the Directors’ opinion there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the Board of Directors.

Stephen Cook - Director Clive Blunt - Director

Dated this 16th day of September 2014


OVERVIEW OF FINANCIAL POSITION


NSW Govt

Commonwealth Govt

Service Users’ Contribution

Other Grants

Other Income

SOURCES OF INCOME 2013 - 2014

ASSETS AND LIABILITIES FIVE YEAR COMPARISON

3,500,000

4,500,000

2009/10 2010/11 2011/12 2012/13 2013/14

4,000,000

500,000

-

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

Assets

Liabilities

Equity


2014 Annual ReportAdssi HomeLiving Australia

P 1300 578 478 F 02 4353 3804A 3A Pioneer Avenue, Tuggerah Business Park, Tuggerah NSW 2259

E [email protected] W www.adssihomeliving.com.au

ABN 22 119 632 825

Documents

2014 Annual Report