MOTIO LTD — Annual Report 2013

Dec 18, 2014

LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2013

LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

CONTENTS

Income Statement-Summary	1
Detailed Profit and Loss Statement	2
Balance Sheet	4
Notes to the Financial Statements	5
Directors' Declaration	9
Compilation Report	10
Letter of Acknowledgement	11

LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2013

Note	2013 $	2012 $
Revenue Other income Changes in inventories of finished goods and work in progress Raw materials and consumables used Accountancy expenses Advertising expenses Bad and doubtful debt expenses Depreciation and amortisation expenses Employee benefits expenses Other expenses Loss for the year Accumulated losses at the beginning of the financial year Loss attributable to members of the company	(9,172) (45,399) (54,571) (43,129) 2,903 (3,550) (4,520) (21,161) (19,841) - (279,280) (423,149) (361,534) (784,683)	154,200 -
		154,200 (117,284) - (3,468) (3,099) - (23,953) (76,744) (91,705)
		(162,053) (199,481)
		(361,534)

The accompanying notes form part of these financial statements.

These statements should be read in conjunction with the attached compilation report of CONNOLLY & ASSOCIATES.

Page 1

LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 30 JUNE 2013

	2013 $	2012 $
SALES Sales LESS: COST OF GOODS SOLD Purchases LESS: MANUFACTURING COSTS Artwork/Graphics Freight & Cartage Subcontractors Equipment Lease Purchases Purchases - Imports GROSS (LOSS) PROFIT FROM TRADING OTHER INCOME Interest Received Capital Gain(Loss) on Sale of Non-current Assets	(11,012) (2,903) - 4,589 38,540 - - - 43,129 (51,238) 1,840 (45,399) (43,559) (94,797)	153,776
		-
		1,111 11,693 40,968 6,370 5,257 51,885
		117,284
		36,492
		424 -
		424
		36,916

The accompanying notes form part of these financial statements.

These statements should be read in conjunction with the attached compilation report of CONNOLLY & ASSOCIATES.

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LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 30 JUNE 2013

	2013 $	2012 $
EXPENSES Accountancy Fees Advertising Bad Debts Written Off Bank Charges Bookkeeping Fees Computer Expenses Couriers Consultancy Services Depreciation Filing Fees Fines & Penalties Fringe Benefits Tax Insurance Internet Expenses Interest Paid Legal Costs Motor Vehicle Expenses Parking & Tolls Printing & Stationery Rent Repairs & Maintenance Staff Amenities Staff Training Storage Fees Subscriptions Superannuation Contributions Telephone Travelling Expenses Wages Loss before income tax Income tax expense Loss after income tax	3,550 4,520 21,161 660 4,175 - - 191,700 19,841 230 (217) 4,955 12,166 - 4,590 1,000 10,946 - 225 7,807 (448) - 560 - - - 6,334 34,597 - 328,352 (423,149) - (423,149)	3,468 3,099 - 1,088 2,118 472 119 - 23,953 227 1,607 3,965 3,825 1,455 13,352 1,200 15,485 1,480 574 21,813 1,496 771 - 1,649 19 6,273 4,141 15,620 69,700
		198,969
		(162,053)
		-
		(162,053)

The accompanying notes form part of these financial statements.

These statements should be read in conjunction with the attached compilation report of CONNOLLY & ASSOCIATES.

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LUNALITE INTERNATIONAL PTY LTD

A.B.N. 62 115 799 776

BALANCE SHEET AS AT 30 JUNE 2013

Note	2013 $	2012 $
ASSETS CURRENT ASSETS Cash and cash equivalents 2 Trade and other receivables 3 TOTAL CURRENT ASSETS NON-CURRENT ASSETS Financial assets 4 Property, plant and equipment 5 TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and Other Payables 6 TOTAL CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital 7 Accumulated losses 8 TOTAL EQUITY	17,718 15,271 32,989 - 721,246 721,246 754,235 56,637 56,637 56,637 697,598 1,482,281 (784,683) 697,598	51,630 35,490
		87,120
		45,399 215,419
		260,818
		347,938
		45,894
		45,894
		45,894
		302,044
		663,578 (361,534)
		302,044

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

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LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013

1 Statement of Significant Accounting Policies

The directors have prepared the financial statements on the basis that the company 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 needs of members.

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 needs of members. 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 accounting policies that have been adopted in the preparation of these statements are as follows:

Property, Plant and Equipment

All property, plant and equipment excluding freehold land and buildings, are initially measured at cost and are depreciated over their useful lives to the company.

The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the asset's employment and subsequent disposal. The expected net cash flows have not been discounted in determining recoverable amounts.

Depreciation

The depreciation method and useful life used for items of property, plant and equipment (excluding freehold land) reflects the pattern in which their future economic benefits are expected to be consumed by the company. Depreciation commences from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. The depreciation method and useful life of assets is reviewed annually to ensure they are still appropriate.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet.

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LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013

Revenue and Other Income

Revenue is measured at the fair value of the consideration received or receivable after taking into account any trade discounts and volume rebates allowed. Any consideration deferred is treated as the provision of finance and is discounted at a rate of interest that is generally accepted in the market for similar arrangements. The difference between the amount initially recognised and the amount ultimately received is interest revenue.

Revenue from the sale of goods is recognised at the point of delivery as this corresponds to the transfer of significant risks and rewards of ownership of the goods and cessation of all involvement in those goods.

Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument.

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

Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax 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.

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LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013

	2013 $	2012 $
2 Cash and Cash Equivalents Deposits Westpac Business Cheque Plus Account Macquarie Bank 3 Trade and Other Receivables Current ATO - Integrated Client A/C Trade Debtors Input Tax Credits GST Payable Other Debtors 4 Financial Assets Non-Current Shares in Unlisted Companies 5 Property, Plant and Equipment Plant & Equipment Furniture & Fittings Less: Accumulated Depreciation Office Equipment at Cost Less: Accumulated Depreciation Demonstration Equipment Contract Rights Total Plant and Equipment Total Property, Plant and Equipment	2,250 3,069 12,399 17,718 991 - 4,046 8,799 1,435 15,271 - 3,157 (1,980) 1,177 172,247 (69,536) 102,711 7,358 610,000 721,246 721,246	2,250 49,239 141
		51,630
		- 33,413 - 2,077 -
		35,490
		45,399
		3,157 (1,708)
		1,449
		256,579 (49,967)
		206,612
		7,358 -
		215,419
		215,419

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LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013

	2013 $	2012 $
6 Trade and Other Payables Current Loan - M Niutta Interest Payable Westpac Visa Card Statement Trade Creditors FBT Payable Payroll Liabilities 7 Issued Capital Issued Capital 8 Accumulated Losses Accumulated losses at the beginning of the financial year Net loss attributable to members of the company Accumulated losses at the end of the financial year	20,456 4,564 20,389 - 4,955 6,273 56,637 1,482,281 (361,534) (423,149) (784,683)	- - 19,651 17,970 - 8,273
		45,894
		663,578
		(199,481) (162,053)
		(361,534)

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LUNALITE INTERNATIONAL PTY LTD

A.B.N. 62 115 799 776

DIRECTORS' DECLARATION

The directors have determined that the company 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 to the financial statements.

The directors of the company declare that:

1. The financial statements and notes present fairly the company's financial position as at 30 June 2013 and its performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the financial statements; and

2. In the directors' opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Director:

_________ Francis Shane Hurley

Director:

_________ Mark Niutta

Dated this day of

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COMPILATION REPORT TO LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

We have compiled the accompanying special purpose financial statements of LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776 which comprise the balance sheet as at 30 June 2013, and the income statement for the year then ended, a summary of significant accounting policies and other explanatory notes.

The specific purpose for which the special purpose financial report has been prepared is set out in Note 1.

The responsibility of directors

The directors are solely responsible for the information contained in the special purpose financial report and has determined that the significant accounting policies adopted as set out in Note 1 to the financial statements are appropriate to meet their needs.

Our responsibility

On the basis of information provided by the directors, we have compiled the accompanying special purpose financial statements in accordance with the significant accounting policies adopted as set out in Note 1 to the financial statements and APES 315: Compilation of Financial Information.

Our procedures use accounting expertise to collect, classify and summarise the financial information, which the director 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.

The special purpose financial report was prepared exclusively for the directors. We do not accept responsibility to any other person for the content of the special purpose financial statements.

Name of Firm: CONNOLLY & ASSOCIATES Chartered Accountants

Name of Director:

_________ A R Connolly

Address: Level 1, 282 Rokeby Road, Subiaco

Dated this day of

Liability limited by a scheme approved under Professional Standards Legislation

LUNALITE INTERNATIONAL PTY LTD A.B.N. 62 115 799 776

LETTER OF ACKNOWLEDGEMENT

To: Connolly & Assoc Level 1, 282 Rokeby Road SUBIACO WA 6008

The directors of the company acknowledge responsibility for the special purpose financial report for the period 30 June 2013 complied by your firm and confirm that:

• a) All material and relevant information has been provided to your firm;

• b) All underlying accounting data provided to your firm is complete and accurate;

• c) The financial reporting framework adopted and described in Note 1 is appropriate;

• d) The content and presentation of the financial report meets with our approval.

Director:

_________ Francis Shane Hurley

Director:

_________ Mark Niutta

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