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View a sample nil financial statement

Note 
  1. This sample nil financial statement should only be used as a guide when preparing an annual financial statement for an incorporated society.
  2. Where a society has had no expenditure or income and has no assets and liabilities a statement is required to be filed to report this inactivity. A letter from the society advising that the society has been inactive is insufficient and does not comply with the requirements of section 23 of the Incorporated Societies Act 1908.
  3. We recommend you review the rules of the society. Where the rules specify:
    1. a particular format of financial statement, for example compliance with GAAP, you must meet these requirements; or
    2. that an auditor must be appointed, the audit report must be attached to the financial statement.
  4. This sample statement should not be used where the society has financial statement preparation and filing obligations under other legislation e.g. where the society is an issuer, FMC reporting entity, charity or industrial and provident society. We recommend you seek professional advice as appropriate.

 

 

ABC Club Incorporated 123456 (society number)

Statement of Income & Expenditure

For the year ended 31 March 2016*

 

INCOME 2016
$

2015
$
Total income NilNil
EXPENSES  
Total expensesNilNil

Net surplus/(loss)
NilNil

 

ABC Club Incorporated 123456

Statement of Financial Position

As at 31 March 2016

 

ASSETS 2016
$

2015
$

Total assets Nil Nil
LIABILITIES   
Total liabilitiesNilNil

Net assets (liabilities) NilNil


Accumulated funds as at 31 MarchNilNil

 

ABC Club Incorporated 123456

Notes to the Financial Statement

As at 31 March 2016

 

Include details of all mortgages, charges, and securities of any description affecting any of the society’s property here. For example:

  1. The nature and amount of the borrowing that is secured; and
  2. The nature and amount of the resource(s) used as security.

 

* The financial statement is for the financial year 1 April 2015 to 31 March 2016.

 

Last updated 25 September 2015