Annual Financial Report
For the year ended 30 June 2025
Statement of profit or loss and other comprehensive income
For the year ended 30 June 2025
4. Cash and cash equivalents
6. Financial Assets
7. Other Assets
The security deposit on reporting date was for the premises at L6, 737 Bourke Street, Docklands VIC.
8. Property, plant & equipment and Right-of-Use Assets
9. Trade and other payables
10. Other Liabilities
11. Provisions
12. Employee Benefits
13. Lease Liability
The Right of Use assets and lease liability relate to the property lease for Level 6, 737 Bourke Street, Docklands VIC 3008. The lease expires on 31 May 2031.
14. Events after the reporting period
The directors are not aware of any significant events since the end of the reporting period.
15. Key management personnel compensation
Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of that entity is considered key management personnel.
The totals of remuneration paid to key management personnel of the company during the year are as follows:
Key management personnel compensation
| 2025 ($) | 2024 ($) |
|---|---|
| 1,640,036 | 1,574,097 |
16. Related party transactions
Other related parties include close family members of key management personnel and entities that are controlled or jointly controlled by those key management personnel individually or collectively with their close family members.
Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other persons unless otherwise stated.
There were no related party transactions during the financial year ended 30 June, 2025.
17. Contingent liabilities and contingent assets
A contingent liability exists in the form of a bank guarantee held by The Trust Company Ltd of $825,976 in relation to the property lease at Docklands, VIC.
18. Financial risk management
The entity's financial instruments consist mainly of deposits with banks, accounts receivable and payables. The entity does not have any derivative instruments at 30 June 2025.
The carrying amounts of each category of financial instruments, measured in accordance with AASB9 as detailed in the account policies to these financial statement, are as follows:
Financial risk management policies
The organisation’s overall risk management strategy seeks to assist the company in meeting its financial targets, whilst minimising potential adverse effects on financial performance. Risk management policies are approved and reviewed by the Finance, Audit and Systems Committee on a regular basis. These include credit risk policies and future cash flow requirements.
Directors’ declaration
In accordance with a resolution of the directors of Melbourne Primary Care Network Ltd, the directors of the company declare that:
- The financial statements and notes, as set out on pages 12 to 29 are in accordance with the Australian Charities and Not-for-profit Commission Act 2012 and:
- comply with Australian Accounting Standards - Simplified Disclosures; and
- give a true and fair view of the financial position as at 30 June 2025 and of the performance for the year ended on that date of the company.
- 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.
On behalf of the directors
Mr Damian Ferrie (Chairperson)
Dated this 30th day of September 2025.
Independent Auditor’s report to members
This is provided by the auditor post audit.
