Virgin Super’s financials.
The following tables contain the Fund’s abridged financial information (based on audited accounts) which shows how financially healthy we were at 30 June 2011. If you would like a copy of our full audited accounts and auditor’s report contact our Customer Care Team on 1300 652 770.
| Assets | $30 June 2010 | $30 June 2011 |
|---|---|---|
| Investments | 292,940,022 | 348,358,460 |
| Cash at Bank | 3,783,774 | 4,897,549 |
| Sundry Debtors | 5,000 | 14,652 |
| Deferred Tax Assets | 8,854,923 | 7,511,913 |
| GST Receivable | 70,486 | 80,608 |
| Total Assets | 305,654,205 | 360,863,182 |
| Less Liabilities | ||
| Benefits Payable | 228,901 | 397,920 |
| Administration Fees Payable | 109,581 | 12,161 |
| Insurance Premiums Payable | 59,793 | 155,777 |
| Cash Clearing Account | 2,079,580 | 986,371 |
| Other Amounts | 2,657 | 157 |
| Income Tax Payable | 1,417,605 | 2,966,697 |
| Deferred Tax Liabilities | 958 | 1,366 |
| Total Liabilities | 3,899,074 | 4,520,450 |
| Net Assets Available to Pay Benefits at 30 June | 301,755,131 | 356,342,732 |
| Represented by: Liabilities for Accrued Benefits | ||
| Allocated to Members’ Accounts | 301,396,172 | 354,142,133 |
| Unallocated | 358,959 | 2,200,599 |
| Total | 301,755,131 | 356,342,732 |
| Changes in Net Assets | $2010 | $2011 |
|---|---|---|
| Net Assets at 1 July | 301,755,131 | 356,342,732 |
| Plus Income | ||
| Trust Distribution Income | 10,385,352 | 19,033,779 |
| Interest | 61,821 | 195,274 |
| Other Investment Income | 66,454 | 75,333 |
| Changes in Net Market Value of Assets | 14,582,197 | 12,427,552 |
| Employer Contributions | 45,079,651 | 45,603,543 |
| Member Contributions | 4,725,462 | 3,793,848 |
| Transfers In | 12,065,522 | 17,512,962 |
| Insurance Proceeds | - | - |
| Government Co-Contributions | 1,018,508 | 720,738 |
| Total Income | 87,984,966 | 99,363,028 |
| Less Outgoings | ||
| Insurance Premiums | 712,304 | 813,495 |
| Administration Expenses | 3,501,232 | 4,073,671 |
| Superannuation Contribution Surcharge | 4,692 | 1,670 |
| Other Expenses | 241,320 | 19,453 |
| Total Outgoings | 4,459,549 | 4,908,288 |
| Benefits Accrued before Income Tax | 85,525,417 | 94,454,739 |
| Benefits Paid before Income Tax | 19,666,930 | 30,964,570 |
| Less Income Tax Expenses | 4,957,314 | 8,902,568 |
| Net Assets Available to Pay Benefits at 30 June | 301,755,131 | 356,342,732 |