36 RACING AUSTRALIA ANNUAL REPORT 2021 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2021 Consolidated Entity Parent Entity Note 2021 $ 2020 $ 2021 $ 2020 $ Revenue Rendering of services 2(a) 15,058,915 14,760,120 15,049,090 14,747,594 Interest 2(b) 1,840 4,973 1,840 4,855 Other 2(b) 1,321,631 706,158 1,321,631 706,158 16,382,386 15,471,251 16,372,561 15,458,607 Expenses Employee benefits expense 6,967,028 6,530,000 6,949,052 6,525,874 Legal & consulting 424,574 352,883 424,071 352,433 Audit fees 46,400 45,700 36,500 36,000 Depreciation & amortisation 2(c) 2,383,411 2,028,165 2,383,411 2,028,165 Research grant 243,367 227,952 243,367 227,952 Administration 2,043,141 1,944,567 2,030,554 1,933,472 Finance costs 2(c) 133,773 138,506 133,589 137,607 Non-Repayable Grant 3,000,000 - 3,000,000 - Bad & doubtful debts - - - 99,555 Impairment expense 5 562,500 - 562,500 - Equine Testing Fees 842,360 972,075 842,360 972,075 16,646,554 12,239,848 16,605,404 12,313,133 Surplus/(Deficit) before income tax expense (264,168) 3,231,403 (232,843) 3,145,474 Income tax 1(b) - - - - Surplus/(Deficit) after income tax expense for the year (264,168) 3,231,403 (232,843) 3,145,474 Other comprehensive income for the year, net of tax - - - - Total comprehensive income for the year (264,168) 3,231,403 (232,843) 3,145,474 The accompanying notes form part of these financial statements.
RkJQdWJsaXNoZXIy ODA1NTI=