D B Harp Pty Ltd t/as Farmborough
Road Newsagency
Financial Report
1 July 2007 – 30 June 2008
Suite 4/39 Market Street
WOLLONGONG NSW 2500
Ph: 02 4226 4240
Fax: 02 4226 1596
E-mail:
DB Harp Pty Ltd
T/as Farmborough Road Newsagency
Annual Report
for the Year Ended 30 June 2008
ContentsPage
Information Sheet...... 1
Directors' Report...... 2
Directors' Declaration...... 4
Compilation Report...... 5
Annual Directors Resolution...... 6
Annual Shareholders Resolution...... 7
Notes to the Accounts ...... 8
Profit and Loss Statement...... 9
Balance Sheet ...... 10
DB Harp Pty Ltd
Trading as Farmborough Road Newsagency
GENERAL INFORMATION
DB Harp Pty Ltd
T/asFarmborough Road Newsagency
ACN: 107 958 752
Principal Address - 19 FARMBOROUGH ROAD
UNANDERRA NSW 2526
Registered Address - 19 FARMBOROUGH ROAD
UNANDERRA NSW 2526
Principal Activity - NEWSAGENT
Other Activities - SALE OF OFFICE SUPPLIES
Non Reporting Entity
State of Incorporation - NSW
Name of Tax Agent - WOLLONGONG TAXATION SERVICES
DIRECTORS
DONALD BRUCE HARPER
ROSALITA HARPER
SHAREHOLDERS
DONALD BRUCE HARPER
ROSALITA HARPER
WOLLONGONG TAXATION SERVICES
Michelle Dunn - TAX AGENT
73 Auburn StreetWOLLONGONG NSW 2500
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DB Harp Pty Ltd: Trading as Farmborough Road Newsagency
107 958 752
Directors Report
for the Year Ended 30 June 2008
The Directors present this report on the company for the financial year ended 30th June 2008
Directors
The following persons held office of director during the year or since the end of the year;
DONALD BRUCE HARPER
ROSALITA HARPER
No other person was a director during the year. Directors have been in office since the start of the
financial year to the date of this report unless otherwise stated.
Net Profit After Income Tax
The profit of the company for the financial year after providing for income tax was $Nil
Review of Operations
A Review of the company operations during the financial year and the results of those operations are
as follows;
The company's operations during the year performed as expected in the opinion of the directors.
Significant Changes in State of Affairs
There have been no significant changes in the state of the company's affairs during the financial year.
Principal Activities
The principal activities of the company during the course of the year were:
NEWSAGENT
SALE OF OFFICE SUPPLIES
There have been no significant changes in the nature of these activities during the year.
After Balance Date Events
No known matters or circumstances have arisen since the end of the financial year which significantly
affected or may significantly affect the company's operations, the results of those operations or the
state of affairs of the company in subsequent financial years.
Future Developments
The company expects to maintain the present status and level of operations and hence there are no
likely known developments in future financial years.
Environmental Issues
The company's operations are not regulated by any significant environmental regulation under a law
of the Commonwealth or of a State or Territory.
Dividends
a) There were no dividends paid during the year.
b) There were no dividends or distributions recommended or declared for payment to members during
the year that have not been paid or credited to the member throughout the year.
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DB Harp Pty Ltd: Trading as Farmborough Road Newsagency
107 958 752
Directors Report
for the Year Ended 30 June 2008
Options
No options over issued shares or interests in the company were granted during or since the end of the
financial year. Furthermore, there were no options outstanding at the date of this report.
Indemnities Granted
There have been no indemnities granted or insurance premiums paid, during or since the end of the
financial year, for any person who is or has been an officer or auditor of the company.
Actions
No person has applied for leave of Court to bring proceedings on behalf of the company or intervene
in any proceedings to which the company is a party for the purpose of taking responsibility on behalf
of the company for all or any part of these proceedings.
The company was not a party to any such proceedings during the year.
This statement is made in accordance with a resolution of the Board of Directors and is signed for and
on behalf of the directors by:
*
Director
*
Director
Dated this...... day of...... 2008
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DB Harp Pty Ltd: Trading as Farmborough Road Newsagency
107 958 752
Directors Declaration
for the Year Ended 30 June 2008
The directors have determined that the company is not a reporting entity. The directors have
determined that this special purpose financial report should be prepared in accordance with the
accounting policies outlined in Note 1 to the financial statements.
The directors of the company hereby declare that:
The accompanying financial statements and notes of the company as at 30 June 2008;
a) present fairly the company's financial position as at 30 June 2008 and its
performance for the year ended on that date in accordance with the accounting policies as
described in Note 1 of the financial statements.
b) comply with Australian Accounting Standards as detailed in Note 1 of the financial statements
and the Corporations Act 2001 and the Corporations Regulations 2001..
c) there is reasonable grounds to believe that the company will be able to meet its debts as
and when they become payable.
This declaration is made in accordance with a resolution of the Board of Directors:
*
Director
*
Director
Dated this...... day of...... 2008
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Compilation Report
107 958 752
To DB Harp Pty Ltd: Trading as Farmborough Road Newsagency
Scope
On the basis of information provided by the directors, we have compiled in accordance with APS 9
"Statement on Compilation of Financial Reports" the special purpose financial report of the company
for the period ended 30th June 2008 as set out in the financial report.
The specific purpose for which the special purpose financial report has been prepared is set out in
Note 1. The extent to which Accounting Standards and other mandatory professional reporting
requirements have not or have been adopted in the preparation of the special purpose financial report
is set out in Note 1.
The directors are solely responsible for the information contained in the special purpose financial
report. They have determined that the accounting policies used are consistent with the financial
reporting requirements of the company's constitution and are appropriate to meet the needs of the
members and directors of the company.
Our procedures use accounting expertise to collect, classify and summarise the financial information,
which the directors provided, into a financial report. Our procedures do not include verification or
validation procedures. No audit or review has been performed and accordingly no assurance is
expressed.
To the extent permitted by law, we do not accept liability for any loss or damage which any person,
other than the company, may suffer arising from any negligence on our part. No person should rely on
the special purpose financial report without having an audit or review conducted.
The special purpose financial report was prepared for the benefit of the members and directors of DB
Harp Pty Ltd: Trading as Farmborough Road Newsagency. We do not accept responsibility to any
other person for the contents of the special purpose financial report.
WOLLONGONG TAXATION SERVICES
TAX AGENT
73 AUBURN STREET: WOLLONGONG NSW 2500
DONALD BRUCE HARPER
16 DECEMBER 2008
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DB Harp Pty Ltd: Trading as Farmborough Road Newsagency
107 958 752
Annual Resolution of the Directors
for the Year Ended 30 June 2008
The Directors resolved;
Financial
To confirm that the Financial Accounts of the company in respect of the year ended 30 June 2008 had
been prepared as special purpose financial reports in accordance with the accounting policies
outlined in Note 1 to the accounts.
To confirm that the company is a non-reporting entity and to the best of the knowledge and belief of
the directors would remain so in the current financial year.
Solvency
That in their opinion the company could pay its debts as and when they fall due.
Directors Declaration and Report
That the Declaration and Report by the Directors in respect of the year ended 30 June 2008 be
approved and be signed by two Directors on behalf of the Board.
We hereby agree with the above resolutions.
DONALD BRUCE HARPER:
ROSALITA HARPER:
Dated this...... day of...... 2008
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DB Harp Pty Ltd: Trading as Farmborough Road Newsagency
107 958 752
Annual resolution of the members
for the Year Ended 30 June 2008
The Shareholders resolved;
Directors
It was resolved that the following, having previously consented to act, be and are hereby re-elected as
director(s) of the company:
DONALD BRUCE HARPER
ROSALITA HARPER
Financial Accounts
That the Directors' Report be received and the Financial Accounts be and are hereby adopted as tabled.
Auditors
That the financial accounts of the Company in respect of the current financial year shall not be audited.
Dividend
That no dividend be declared for the year ended 30 June 2008.
We hereby agree with the above resolutions.
DONALD BRUCE HARPER (Chairperson)
ROSALITA HARPER
Dated this...... day of...... 2008
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DB Harp Pty Ltd
Trading as Farmborough Road Newsagency
Notes to the Financial Statements
For the Year ended 30th June 2008
1.STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
This financial report has been prepared for use by the directors and members of the company and is a
special purpose financial report. The directors have determined that the company is not a reporting
entity.
The financial report has been prepared in accordance with the requirements of the following
Australian Accounting Standards;
AASB 110 Events after the Balance Sheet Date
AASB 112 Income Taxes
AASB 1031 Materiality
No other applicable Accounting Standards or other authoritative pronouncements of the Australian
Accounting Standards Board have been applied.
The financial report has been prepared on an accruals basis and is based on historic costs modified by
the revaluation of financial assets, financial liabilities and selected non-current assets for which the
fair value basis of accounting has been applied.
There are no other accounting policies, which are consistent with the previous period unless
otherwise stated, that have been adopted in the preparation of this report for DB Harp Pty Ltd: Trading as Farmborough Road Newsagency;
These notes should be read in conjunction with the attached Compilation Report.
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