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Brief Introduction Of Annual Report

A company's annual report is the most important document that they release each year. In
short, it's a reliable summary of the company's financial position for that year that's been
checked and approved by an auditor.

This information is always released in a standard annual report format. This helps
shareholders and future investors to quickly find the information that they're looking for
about the company.

Investment expert Dan Fournier summarizes some of the most important purposes of the
annual report:

"You can use the annual report to assess a company's profitability, its potential for growth, to
learn about its problems or challenges, or to find out about risks and other factors that may
affect its performance and, inherently, its stock price."

Standard Format for Annual Reports

Fortunately, most companies follow a similar industry practice in their annual report
presentation, making it simple to understand and compare the company's financial position.
There are seven sections that make up the standard annual report format:

1. Letter to the shareholder


2. Highlights of the past year
3. Management discussion and analysis
4. Auditor's report
5. Financial statements (Income Statement, Balance Sheets, and Cash Flow Statement)
6. Notes to financial statements
7. Corporate information

The most important components are the financial statements, but when they stand alone they
can be misleading. It's only when you compare these statements to other company annual
reports that you can understand how the company has performed financially for that year.
Annual Report Sample

HAPPY VALE HOME FOR SENIOR CITIZENS


Annual Report for Year Ended 31 December 2000

Happy Vale Home For Senior Citizens was set up in 1.1.1989 as a society. It was registered
under the Charities Act on 1.7.1990.

Charity Registration Number : 1234

ROS Registration Number : ROS 012/1989

Registered Address : 8 Sunset Way


Singapore 129446
Management Committee : The Management Committee was elected at the 10th
Annual General Meeting held on 1.7.2000.

1) Mr David Lim Chairman


2) Mr Peter Ho Hon Secretary
3) Ms Alice Tan Hon Treasurer
4) Ms Betty Teo Committee Member
5) Mrs Lily Koh Committee Member
6) Mr William Tay Committee Member

Trustees : The premises at 8 Sunset Way is held in trust for the


charity by the following trustees by the trust
instrument of 1September 1989:

Banker : XYZ Bank Ltd

Auditor : F.W. Tan & Co.

Investment Adviser(s) : ABC Financial Consulting Co.

Other Adviser(s) : 1) Mr Albert Chia Legal Adviser


2) Dr. Cheryl Tay Medical Adviser

OBJECTIVE

The objective of the Home is to provide care and a shelter for the needy aged and the aged
sick in Singapore irrespective of race or religion.
POLICIES

Finance & funding


The Home is funded by the Government and from public donations. The Home also collects
nominal fees from the family members of the resident. Such fees are based on the family’s
financial background and their ability to pay.

Application for admission to Home


Applications for admission are made directly by family members of the applicant or by the
hospitals’ medical social workers. The applications were processed by the Management
Committee.

REVIEW OF YEAR 2000

Staffing
Staff are recruited locally and abroad. The nursing staff recruited from overseas have to go
through a series of training sessions to equip them with the skills to look after the residents.
As at 31.12.2000, the breakdown of the staff strength is as follows:

Occupancy
There were 148 residents as at 31 December 2000. A breakdown is shown as follows:

In 2000, we received 25 applications for admission to the Home. However, due to space
constraint, we were only able to admit 10 residents – 7 on Public Assistance. Two of the new
residents are charged at a fee between $700 to $900.

Calendar of Events

January Residents who are mobile visited the Jurong Bird Park.
February Chinese New Year celebration. MP for Clementi GRC came and
distributed ‘ang pows’ to the residents.
August National Day celebration.
September Walkathon to raise funds for the extension of the Home.
Mooncake Festival celebration.
October Deepavali celebration..
November Senior Citizens’ Week. Students from Jurong Junior College put up a
cultural performance to entertain the residents.
December Christmas and Hari Raya celebrations.

Weekly physiotherapy sessions are conducted by physiotherapists from Changi General


Hospital for the residents. The residents are also taught to make handicrafts.

REVIEW OF FINANCIAL STATE AND EXPLANATION OF MAJOR FINANCIAL


TRANSACTIONS

The Home recorded a surplus of $28,000 in the year 2000. We wish to thank our donors,
friends and supporters who have made significant contributions to the Home and the Home’s
Building Fund.

We have spent $10,000 to purchase health equipments for the physiotherapy room.
A walkation was held on 10 September 2000 (Sunday) and a total sum of $5,000 was raised

EXPLANATION OF THE PURPOSES FOR WHICH THE CHARITY’S ASSETS ARE


HELD

1) Land and Building at 8 Sunset Way : Property purchased in 1989 by charity for the
purpose of running the home for senior citizen

2) Passenger Van Plate no. P1234G : Van purchased in 1998 by charity for ferrying
residents to and from hospitals and home

FUTURE PLANS AND COMMITMENTS

Construction of the new wing which can house another 50 beds has begun in June 2000. The
new wing is expected to be completed by June 2002. The Government will be funding 90%
of the construction costs and the Home will bear the remaining 10%.

STATEMENT OF ACCOUNTS

Statement of accounts for the financial year ended 31 December 2000 is attached.