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2011 - 12 Annual ReportEnactus Canada
PRODUCTION AND LIVE MANAGEMENT INC.
June 30 2012 2011
$ $w
ASSETS
Current
Cash 348,122 199,827
Accounts receivable [note 3] 307,249 369,351
Prepaid expenses 20,197 45,922
675,568 615,100
Long-term deposits 10,834 10,581
Capital assets [note 4] 17,336 21,316
703,738 646,997
LIABILITIES
Current
Accounts payable and accrued liabilities 260,724 111,463
Deferred revenue [note 5] 59,700 157,200
320,424 268,663
NET ASSETS
Unrestricted 383,314 378,334
703,738 646,997
Year ended June 30 2012 2011
$ $
Balance, beginning of year 378,334 463,520
Excess (deficiency) of revenue over expenses for the year 4,980 (85,186)
Balance, end of year 383,314 378,334
Year ended June 30 2012 2011
$ $
Balance, beginning of year 378,334 463,520
Excess (deficiency) of revenue over expenses for the year 4,980 (85,186)
Balance, end of year 383,314 378,334
Year ended June 30 2012 2011
$ $
OPERATING ACTIVITIES
Excess (deficiency) of revenue over expenses for the year 4,980 (85,186)
Add item not involving cash -
Amortization 6,767 3,444
11,747 (81,742)
Changes in non-cash working capital items -
(Increase) decrease in accounts receivable 62,102 (1,145)
(Increase) decrease in prepaid expenses 25,725 (14,533)
Increase (decrease) in accounts payable and accrued liabilities
149,261 (47,609)
Increase (decrease) in deferred revenue (97,500) 117,500
151,335 (27,529)
INVESTING ACTIVITIES
Purchase of capital assets (2,787) (21,378)
Net redemption (purchase) of term deposits (253) 170,242
(3,040) 148,864
Net change in cash during the year 148,295 121,335
Cash, beginning of year 199,827 78,492
Cash, end of year 348,122 199,827
Year ended June 30 2012 2011
$ $
Revenue
Corporate 1,053,228 902,291
Foundations 247,157 151,930
Individuals 137,396 101,009
Government [note 6] 31,485 30,480
Administration fees and other 22,640 6,901
1,491,906 1,192,611
Expenses
Program 1,039,287 890,169
Operations and administration 303,382 331,653
Development 144,257 55,975
1,486,926 1,277,797
Excess (deficiency) of revenue over expenses for the year 4,980 (85,186)
of $206,331, all of which has been reported as current or deferred revenue.
4.CAPITAL ASSETS
Cost AccumulatedAmortization
Net Book Value
2012 2011
$ $ $ $
Leasehold improvements 20,944 5,266 15,678 18,646
Computer equipment 8,294 6,636 1,658 2,670
29,238 11,902 17,336 21,316
5. DEFERRED REVENUEDeferred revenue represents externally restricted operating funding received or pledged in the current year that relates to future years.
2012 2011
$ $
Balance, beginning of year 157,200 39,700
Less: amount recognized as revenue in the year (107,500) (7,500)
Add: amounts received or pledged relating to future years 10,000 125,000
Balance, end of year 59,700 157,200
6. GRANTSThe organization has received contributions from a regional federal government agency ($31,485) for the purpose of funding specific program activities. The organization has complied with all conditions and requirements of the contribution program agreement and no repayment is anticipated.
7. COMMITMENTSThe organization is committed under an operating lease for rental of premises to June 1, 2016. Future minimum annual commitments, including an estimate of the proportionate share of building operating costs, are as follows:
$
2013 34,275
2014 34,275
2015 34,275
2016 31,418
134,243
The organization is also committed to its share of utility costs.
8. REVOLVING DEMAND FACILITYThe organization has a revolving demand facility to a maximum of $100,000. The revolving demand facility bears interest at a Canadian chartered bank’s prime
Enactus Canada266 King Street West, Suite 403
Toronto, ON M5V 1H81 800 766 8169
enactus.ca