DATAWORKS GROUP LIMITED — Interim / Quarterly Report 2016

Nov 13, 2017

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Financial Report (printed 250917) Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust ABN 33 513 790 431 For the period 1 July 2015 to 6 September 2015

Prepared by Pretium Solutions Pty Ltd

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Contents

• 3 Income Statement

• 4 Balance Sheet

• 5 Notes to the Trust's Financial Statements

• 10 Depreciation Schedule

• 11 Trust Income Distribution

• 12 Beneficiary Accounts

• 13 Trustee Declaration

• 14 Compilation Report

• 15 Accountant's Report Disclaimer

Financial Report (printed 250917)

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Income Statement

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

	NOTES	1 JUL-6 SEP 2015
Other Income
Interest Income		997
Total Other Income		997
Total Income		997
Expenses
Depreciation		885
Consultants		28,000
Insurance		192
Rent		28,840
Strata Levies		2,362
Subscriptions		136
Total Expenses		60,416
Profit/(Loss) Before Distribution		(59,419)
Undistributed Income		(59,419)

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

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Balance Sheet

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust As at 6 September 2015

Balance Sheet Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust As at 6 September 2015	Balance Sheet Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust As at 6 September 2015
NOTES 6 SEP 2015
Assets
	Current Assets
	Cash and Cash Equivalents 2 2,090,447
	Receivables 3 957,816
	Beneficiaries' Accounts 812,169
	Debtors 3,892
	Total Current Assets 3,864,324 Non-Current Assets
	Property, plant and equipment 4 1,738,224
	Intangibles 5 5,628
	Total Non-Current Assets 1,743,851
Total Assets 5,608,175 Liabilities
	Current Liabilities
	Payables 6 1,939,002
	Financial Liabilities 7 3,724,000
	Accrued Expenses 7,700
	Total Current Liabilities 5,670,702
	Total Liabilities 5,670,702
Net Assets (62,527) Equity
Undistributed Income (62,647)
Issued Units 120
Total Equity (62,527)

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

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Notes to the Trust's Financial Statements

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

1. Statement of Significant Accounting Policies

The director of the trustee company has prepared the financial statements of the trust on the basis that the trust is a non-reporting entity because there are no users dependent on general purpose financial statements. The financial statements are therefore special purpose financial statements that have been prepared in order to meet the requirements of the trust deed, the information needs of stakeholders and for the basis of preparation of the income tax return. The financial statements have been prepared in accordance with the significant accounting policies disclosed below, which the directors have determined are appropriate to meet the purposes of preparation. Such accounting policies are consistent with the previous period unless stated otherwise. The financial statements have been prepared on an accruals basis and are based on historical costs unless otherwise stated in the notes. The financial statements were authorised for issue on 25 August 2016 by the director of the trustee company.

Income Tax

The income tax expense for the year comprises current income tax expense. The trust does not apply deferred tax.

Current income tax expense charged to the profit or loss is the tax payable on taxable income calculated using applicable income tax rates enacted, or substantially enacted, as at the end of the reporting period. Current tax liabilities are therefore measured at the amounts expected to be paid to / recovered from the relevant taxation authority.

Property, Plant and Equipment

Property, plant and equipment is initially recorded at the cost of acquisition or fair value less, if applicable, any accumulated depreciation and impairment losses. Plant and equipment that has been contributed at no cost, or for nominal cost, is valued and recognised at the fair value of the asset at the date it is acquired. The plant and equipment is reviewed annually by directors to ensure that the carrying amount is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the utilisation of the assets and the subsequent disposal. The expected net cash flows have been discounted to their present values in estimating recoverable amounts.

Freehold land and buildings are measured at their fair value, based on periodic, but at least triennial, valuations by independent external valuers, less subsequent depreciation for buildings.

Increases in the carrying amount of land and buildings arising on revaluation are credited in equity to a revaluation surplus. Decreases against previous increases of the same asset are charged against fair value reserves in equity. All other decreases are charged to profit or loss.

Any accumulated depreciation at the date of revaluation is offset against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Intangibles

Goodwill is recognised as the excess of the purchase price for a business acquired over the fair value of the net assets at the date of acquisition. Goodwill is assessed for impairment annually and is carried at cost less accumulated impairment losses.

Trade and Other Receivables

Trade receivables and other receivables, including distributions receivable, are recognised at the nominal transaction value without taking into account the time value of money. If required a provision for doubtful debt has been created.

Financial Assets

Investments held are originally recognised at cost, which includes transaction costs. They are subsequently measured at fair value which is equivalent to their market bid price at the end of the reporting period. Movements in fair value are recognised through an equity reserve.

These notes should be read in conjunction with the attached compilation report.

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Notes to the Trust's Financial Statements

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Trade and Other Payables

Trade and other payables represent the liabilities for goods and services received by the trust that remain unpaid at 6 September 2015. Trade payables are recognised at their transaction price. They are subject to normal credit terms and do not bear interest.

Employee Benefits

Provision is made for the liability for employee entitlements arising from services rendered by employees to balance date. Employee benefits have been measured at the amounts expected to be paid when the liability is settled, plus related costs.

Provisions

Provisions are recognised when the trust has a legal or constructive obligation resulting from past events, for which it is probable that there will be an outflow of economic benefits and that outflow can be reliably measured. Provisions are measured using the best estimate available of the amounts required to settle the obligation at the end of the reporting period.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, deposits held on call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Revenue Recognition

Revenue from the sale of goods is recognised upon the delivery of goods to customers. Revenue from the rendering of services is recognised upon the delivery of the services to customers. Revenue from commissions is recognised upon delivery of services to customers. Revenue from interest is recognised using the effective interest rate method.

Revenue from dividends is recognised when the entity has a right to receive the dividend.

All revenue is stated net of the amount of goods and services tax (GST).

Goods and Services Tax

Transactions are recognised net of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the balance sheet.

These notes should be read in conjunction with the attached compilation report.

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Notes to the Trust's Financial Statements

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Leases

Finance leases are leases of fixed assets where substantially all of the risks and benefits incidental to the ownership of the asset are transferred to the entity, but the legal ownership is not transferred to the entity.

Finance leases are capitalised by recording an asset and a corresponding liability at the lower of the amounts equal to the fair value of the leased asset, or the minimum lease payments measured at present value including any residual values.

Leased assets are depreciated on a straight-line basis over the shorter of their estimated useful lives or the lease term.

Operating lease payments are charged in the profit and loss on a straight-line basis over the term of the lease.

Lease incentives are deferred and amortised over the period of the lease.

Profits and losses on sale and leaseback transactions are recognised in the reporting period in which they occur.

1 JUL-6 SEP 2015	1 JUL-6 SEP 2015
2. Cash & Cash Equivalents
	Bank Accounts
	St George - Power Saver 2,090,327
	Total Bank Accounts 2,090,327 Other Cash Items
	Cash on Hand 120
	Total Other Cash Items 120
	Total Cash & Cash Equivalents 2,090,447 1 JUL-6 SEP 2015
3. Receivables
	Loan IXUP Pty Ltd (New) 771,872 Current
	GST 185,944
	Total Current 185,944
	Total Receivables 957,816 1 JUL-6 SEP 2015

4. Property Plant and Equipment

	Plant and Equipment	Plant and Equipment
		Computer Equipment
		Computer Equipment 7,376
		Less Accumulated Depreciation on Computer Equipment (2,404)
		Total Computer Equipment 4,972

These notes should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

Notes to the Trust's Financial Statements

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		Developed Software
		Developed Software 1,724,500
		Total Developed Software 1,724,500 Office Equipment
		Office Equipment 1,825
		Less Accumulated Depreciation on Office Equipment (868)
		Total Office Equipment 958 Software
		Software 1,577
		Less Accumulated Depreciation on Software (1,577)
		Total Software -
	Total Plant and Equipment 1,730,430 Vehicles
	Motor Vehicles 9,455
	Less Accumulated Depreciation on Motor Vehicles (1,661)
	Total Vehicles 7,794
	Total Property Plant and Equipment 1,738,224 1 JUL-6 SEP 2015
5. Intangibles
	Other Intangible Assets
	Trademarks 5,628
	Total Other Intangible Assets 5,628
	Total Intangibles 5,628 1 JUL-6 SEP 2015
6. Payables
	Current
	Accounts Payable 1,939,002
	Total Current 1,939,002
	Total Payables 1,939,002 1 JUL-6 SEP 2015
7. Financial Liabilities
	Current
		Unsecured
		Loans - Investors 2,850,000
		Loan from Dean Joscelyne 775,000

These notes should be read in conjunction with the attached compilation report.

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Notes to the Trust's Financial Statements

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1 JUL-6 SEP 2015

Working Capital Loan - Investor Funded	99,000
Total Unsecured	3,724,000
Total Current	3,724,000
Total Financial Liabilities	3,724,000

8. Beneficiary Accounts

Please see report titled "Beneficiary Accounts" for breakdown of beneficiary activity.

These notes should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

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Depreciation Schedule

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

NAME	COST	OPENING VALUE	PURCHASES	DISPOSALS	DEPRECIATION	CLOSING VALUE
Computer Equipment
Apple Desktop - Ex-Lease	1,136	728	-	-	48	680
Apple Desktop - Ex-Lease	1,136	728	-	-	48	680
Apple Store R458 Hornsby AU	1,135	953	-	-	81	873
ASUS Nexus Tablets	3,968	2,908	-	-	168	2,740
Total Computer Equipment	7,376	5,317	-	-	345	4,972
Motor Vehicles
Suzuki VZR1800K8 Motor Cycle	9,455	8,211	-	-	417	7,794
Total Motor Vehicles	9,455	8,211	-	-	417	7,794
Office Equipment
ASUS Transformer Pad TF701T	418	285	-	-	32	253
BlackBerry Q10 Leather Case	20	5	-	-	1	4
BlackBerry Q10 Leather Case	20	5	-	-	1	4
BlckBerry Q10 Flip case	15	4	-	-	1	3
BlckBerry Q10 Flip case	15	4	-	-	1	3
Lenovo Yoga Tablet II Android	351	204	-	-	23	181
SONY Xperia Tablet	493	287	-	-	32	255
SONY Xperia Tablet	493	287	-	-	32	255
Total Office Equipment	1,825	1,081	-	-	123	958
Software
DevCraft Complete Developer
License with Subscription and	1,577	-	-	-	-	-
PrioritySupport
Total Software	1,577	-	-	-	-	-
Total	20,233	14,609	-	-	885	13,724

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

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Trust Income Distribution

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

	1 JUL-6 SEP 2015
Trust Income Distribution
Current Year Earnings	(59,419)
Net Trust Income for Distribution	(59,419)
Undistributed Trust Income	(59,419)

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

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Beneficiary Accounts

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

Beneficiary Accounts Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015	Beneficiary Accounts Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015	Beneficiary Accounts Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015
1 JUL-6 SEP 2015
Beneficiary Accounts
	Beneficiaries Accounts Summary
	Opening Balance (37,169)
	Funds introduced (775,000)
	Total Beneficiaries Accounts Summary (812,169) Detailed Beneficiary Accounts
		YDCJ Pty Ltd ATF YDCJ Trust
		Opening Balance (37,169)
		Drawings - YDCJ Trust (775,000)
		Total YDCJ Pty Ltd ATF YDCJ Trust (812,169)
		Total Detailed Beneficiary Accounts (812,169)

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached compilation report.

Financial Report (printed 250917)

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Trustee Declaration

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

The directors of Joscelyne Investments Pty Ltd declare that Joscelyne Investments Pty Ltd ATF IXUP Unit Trust is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies outlined in Note 1 of the financial statements.

In accordance with a resolution of the Board of Directors, the directors of Joscelyne Investments Pty Ltd declare that:

1. The financial statements and notes present fairly Joscelyne Investments Pty Ltd ATF IXUP Unit Trust's financial position as at 30 June 2016 and its performance for the year ended on that date in accordance with the accounting policies described in Note 1 of the financial statements.

2. In the directors opinion there are reasonable grounds to believe that Joscelyne Investments Pty Ltd ATF IXUP Unit Trustwill be able to pay its debts as and when they become due and payable.

Director: Dean Cameron Joscelyne

Date:

Financial Report (printed 250917)

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Compilation Report

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

Compilation report to Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust

We have compiled the accompanying special purpose financial statements of Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust, which comprise the balance sheet as at 30 June 2016, the income statement, the statement of cash flows, a summary of significant accounting policies and other explanatory notes. The specific purpose for which the special purpose financial statements have been prepared is set out in Note 1.

The Responsibility of the Directors

The directors of Joscelyne Investments Pty Ltd are solely responsible for the information contained in the special purpose financial statements, the reliability, accuracy and completeness of the information and for the determination that the basis of accounting used is appropriate to meet their needs and for the purpose that financial statements were prepared.

Our Responsibility

On the basis of information provided by the directors we have compiled the accompanying special purpose financial statements in accordance with the basis of accounting as described in Note 1 to the financial statements and APES 315 Compilation of Financial Information .

We have applied our expertise in accounting and financial reporting to compile these financial statements in accordance with the basis of accounting described in Note 1 to the financial statements. We have complied with the relevant ethical requirements of APES 110 Code of Ethics for Professional Accountants .

Assurance Disclaimer

Since a compilation engagement is not an assurance engagement, we are not required to verify the reliability, accuracy or completeness of the information provided to us by management to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on these financial statements.

The special purpose financial statements were compiled exclusively for the benefit of the directors who are responsible for the reliability, accuracy and completeness of the information used to compile them. We do not accept responsibility for the contents of the special purpose financial statements.

Paul Sweeney FCA

Pretium Solutions Pty Ltd

Level 5, Nexus Norwest

4 Columbia Court

Baulkham Hills NSW 2153

Dated: 25 August 2016

Financial Report (printed 250917)

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Accountant's Report Disclaimer

Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust For the period 1 July 2015 to 6 September 2015

Delete this reporting if using Compilation report. Please update footer if using this report.

Purpose and Scope

The attached unaudited special purpose financial statements of Joscelyne Investments Pty Ltd ATF Joscelyne Investments Unit Trust, for the year ended 6 September 2015, have been prepared for the directors of [insert trustee here] solely for the purpose of the preparation of the entity’s income tax return, and have not been prepared for use by third parties or any other purpose.

Responsibility of the directors

The directors of [insert trustee here] are solely responsible for the information contained in the unaudited special purpose financial statements.

Our Procedures

The unaudited special purpose financial statements have been prepared in accordance with h istorical transactions provided to us by the directors of [insert trustee here].

We have not conducted an audit or review in respect of this engagement. Accordingly, no opinion is expressed in respect of the accuracy or otherwise of the unaudited special purpose financial statements.

Disclaimer

The unaudited special purposes financial statements were prepared exclusively for the entity to use as a basis to complete its income tax return. We do not accept responsibility to any person for the contents of the unaudited special purpose financial statements.

To the extent permitted by law, we do not accept liability for any loss or damage which any person, other than our client, may suffer arising from any negligence on our part. No person should rely on the unaudited special purpose financial statements without having an audit or review conducted.

[insert practice details here]

[insert practice address here]

Dated: 25 September 2017

Financial Report (printed 250917)

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