Maranguka Annual Report 2024 - Flipbook - Page 15
MARANGUKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Note 1 ‐ Corporate information
The 昀椀nancial report includes the 昀椀nancial statements and notes of Maranguka Limited for the year
ended 30 June 2024. Maranguka Limited is registered as a company limited by guarantee and not
having a share capital under the provisions of the Australian Charities and Not‐for‐pro昀椀ts Commission
Act 2012.
Maranguka is a grassroot vision for improving outcomes and creating better coordinated support for
vulnerable families and children through the true empowerment of the local Aboriginal community.
The registered address and principal place of business of the company is:
41B Mitchell Street
Bourke NSW 2840
The 昀椀nancial statements were approved by the Board of Directors on 30 April 2025.
Note 2 ‐ Basis of preparation
Statement of compliance
These general purpose 昀椀nancial statements have been prepared in compliance with the
requirements of the Australian Charities and Not‐for‐pro昀椀ts Commission Act 2012 and Australian
Accounting Standards ‐ Simpli昀椀ed Disclosures. The company is a not‐for‐pro昀椀t entity for the purposes
of preparing these 昀椀nancial statements.
Basis of measurement
The 昀椀nancial statements, except for the cash 昀氀ow information, have been prepared on an accruals
basis and are based on historical costs, modi昀椀ed, where applicable, by the measurement at fair value
of selected non‐current assets, 昀椀nancial assets and 昀椀nancial liabilities.
Currency and rounding of amounts
The 昀椀nancial statements are presented in Australian dollars, which is the company’s functional and
presentation currency.
Critical accounting estimates and judgements
The Directors evaluate estimates and judgements incorporated into the 昀椀nancial statements based
on historical knowledge and best available current information. Estimates assume a reasonable
expectation of future events and are based on current trends and economic data, obtained both
externally and within the company.
Key estimates
Impairment
The Directors assess impairment at the end of each reporting period by evaluation of conditions
and events speci昀椀c to the company that may be indicative of impairment triggers. Recoverable
amounts of relevant assets are reassessed using value‐in‐use calculations which incorporate various
key assumptions.
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