1. Notes and information regarding the 2017 Audited Financial Statements.
Notes and information regarding the 2017 Audited Financial Statements
AGM 23 June 2018

2. Directors Report
Review of financial results and activities.
The financial statements have been prepared in accordance with International Financial Reporting Standard for Small and Medium-sized Entities and the requirements of the Companies Act 71 of The accounting policies have been applied consistently compared to the prior year.

3. Directors Notes to the 2017 AFS reflect on p 4

4. The company declared a surplus of R1,399,800 for the 2017 financial year, due to the fact that licence numbers were only printed and paid during January 2018 (p 8)
With timeous payments of VAT and settlement of the historic court case payment saw the Trade and other payables decrease to R1,746,215 from the previous year R4,126,887 (p7 n6)
ASA received grants of R11,400,000 during December These grants were provided and earmarked for specific projects during January 2018 to April 2018 (p7 n8)
Due to historic debt ASA required proper legal representation resulting in an increase in costs relating different legal matters and legal representation to R1,190,966 (p17 op expense)
ASA experienced growth in membership and increase in participation requiring printing more Permanent and Temporary Licences which reflect as an increase from R1,845,016 to R2,066,687 (p17 op expense)
ASA as custodian of Athletics declares all income received and reflects all ring-fenced money for our Associate Members and Development projects from SRSA to the amount of R2, (p16 Inc Statement)

5. ASA Detailed Income Statement reflect on p 16

7. Operating Expenses as listed reflect on p 17

10. The company declared that:
Tax Clearance Certificate was issued to ASA for the year under review.
All VAT submissions is paid and up to date with SARS.
ASA is compliant with BEE Status requirements.
The property of ASA is paid in full and bond free.
Honoraria or Salaries are not paid to any of the ASA Board members

12. END - Thank You