Auditor Report
Balance Sheet
Income & Expenditure
Statement of Cash Flow
Statement of Changes
Notes
|
Balance Sheet as at 31 March 2004 (In Singapore dollars)
|
Notes |
2003/04
$
|
|
2002/03
$
|
| |
|
|
|
|
Accumulated surplus |
|
|
|
|
General fund |
|
3,155,570 |
|
134,461 |
Other funds |
4 |
38,625 |
|
– |
|
|
3,194,195 |
|
134,461 |
|
|
|
|
|
Endowment funds |
|
100,000 |
|
– |
|
|
|
|
|
Deferred capital grants |
|
|
|
|
|
|
|
|
|
Government |
3 |
215,161,436 |
|
157,039,806 |
Non-government |
3 |
168,683 |
|
– |
|
|
218,624,314 |
|
157,174,267 |
|
|
|
|
|
Represented by : |
|
|
|
|
|
|
|
|
|
Property, plant and equipment |
5 |
23,278,775 |
|
887,366 |
|
|
|
|
|
Capital work-in-progress |
5 |
192,051,344 |
|
156,152,440 |
|
|
|
|
|
Loan to students |
|
95,071 |
|
– |
|
|
|
|
|
Current assets |
|
|
|
|
Sundry receivables, deposits and prepayments |
6 |
168,503 |
|
54,643 |
Fixed deposits |
|
39,800,000 |
|
12,540,000 |
Cash and bank balances |
|
599,056 |
|
432,288 |
|
|
40,567,559 |
|
13,026,931 |
Less : Current liabilities |
|
|
|
|
Government grants received in advance |
7 |
17,022,352 |
|
6,925,193 |
Non-government grants received in advance |
7 |
1,034,657 |
|
– |
Student tuition and study loan fund |
|
95,071 |
|
– |
Sundry payables, accruals and deposits |
8 |
19,184,417 |
|
5,967,179 |
Fees received in advance |
8 |
31,938 |
|
98 |
|
|
37,368,435 |
|
12,892,470 |
Net current assets |
|
3,199,124 |
|
134,461 |
|
|
218,624,314 |
|
157,174,267 |
 |
|
 |
Lee Hsien Yang
Chairman, Board of Governors |
|
Prof. Low Teck Seng
Principal & CEO
|
15 June 2004
The accounting policies and explanatory notes form an integral part of the financial statements.
|
