Annual Reports

Annual reports for Saunders International.

2013:
http://www.saunders-international.com.au/documents/2013%20-%20SND%20Annual%20Report%20-%20FINAL%20for%20Website.pdf

2012:

http://www.saunders-international.com.au/documents/2012%20-%20SND%20Annual%20Report%20-%20FINAL%20for%20website.pdf

2011:

http://www.saunders-international.com.au/documents/2011%20-%20SND%20Annual%20Report%20-%20FINAL%20for%20Website-Rev%201.pdf

Concerns, Challenges etc

Concerns

• The backlog on projects concerning their industry.
• Large legal expenditures in year 2011-2012, which is attributed to the dispute that Saunders International is involved in.

Challenges

• The main challenge being faced by Saunders International is their backlog on projects.
• This could lead to a loss in profits and an increase in expenses. The more time spent on a project, the more money it needs
• In 2012 Saunders International counteracted this challenge by building a better backlog so that some projects may be completed on time.
• A large legal expenditure in 2010,2011, and 2012,  is a result of the dispute between Saunders International and Built Environs
• The only way that Saunders International is counteracting this challenge is by employing their own legal team, and by ensuring all their practices are legal.

Feelings

• Most of the financial statements present in each organisations are different,  in their own different way, but they all have the same basic information, regarding financial statistics. 
• HOWEVER, Saunders International's reports are roughly 46 pages long as opposed to 220-200 pages long, which makes it easier to read, and a more simplistic summary of statistics.
• I have no major concerns or feelings regarding Saunders International. \
• I am very happy to have an organisation assigned to me in an industry that I am familiar with.

Key concepts 2013

KEY CONCEPTS
Year ending 30 June 2013

OVERALL:

• At year end, the Company remained in a strong financial position with cash of $13 million
• A further $15 million of new contacts have been secured in the first quarter of this financial year.
• BP Santos,Caltex, Shell, Exxon, Mobil, Simpson, Constructio,FMG,Stolthaven,Koppers Transfield Services.
• There were no changes in the board of directors this year.
• During the financial year, the principal activities of Saunders were design, construction and maintenance of steel storage tanks and the project management of ancillary facilities.

2013

• Saunders International has won contracts on previously stalled and delayed projects, and has made progress on these projects.
• This profit was achieved on revenue of $60.5 million which was a 31.5% increase on the previous year.
• During the 2013 financial year, Saunders revenue was $60.5 million. This represents a 31.5% increase on the prior year.
•  The Net Profit after Tax increased by 29.5% to $5.8 million (2012: $4.5 million).
• The directors consider the Company to be in a strong financial position at year end.
• During this financial year, the number of employees ranged between 179 and 221 and it was 196 at year end.
•  Saunders International used Deloitte for their auditing services again this year. 

Key Concepts (2012)

KEY CONCEPTS
Year ending 30 June 2012

OVERALL:

Saunders International's largest or 'Ultimate' clients this year include: Alcoa, RAAF, BP, Rio Tinto, Caltex, Santos, Exxon,Mobil, Shell, FMG, Terminals, Fuel.

 Saunders International are in a very strong financial position.

There has been no changes in the team of directors this year. 

2012

• Revenue for 2012 experienced a decrease from 52 million in 2011 to 46 million in 2012, which is a 13% decrease from the previous year, which is attributed to the softness of the market through the year.
• Profit before Income tax had an increase from 2.8 million to 6.2 million in 2012.
• Income tax expense was also at an increase though, from 806 thousand to 1.7 million in 2012.
• the profit attributable from members of Saunders International was at an increase from 1.8 million to 4.4 million in 2012.
• legal costs for this year were at a decrease to 0.75 million, wherein there was a decision on the dispute in the case of Saunders v Built Environs.
• There is still a delay in the release of major projects this year. Saunders has built a better backlog so that some projects may be completed on time.
• The directors consider the Company to be in very strong financial position at year end. Cash totals $17 million which is equivalent to with no interest bearing debt.
• there has been no changes in the remuneration areas this year.
• Saunders International made use of Deloitte again this year for auditing services.

Key concepts (2011)

KEY CONCEPTS 
Year ending 30 June 2011

OVERALL:

• Saunders International have a recognition section for their "Ultimate", or "best" clients, such as BP, Caltex, Santos, Shell, Newcrest Mining, Rio Tinto, BHP. All larger organisations, outsourcing to get their work completed
• The company directors have not changed over the last four years.

2011

• Revenue went up from 52 million from 44 million, which is a 19% increase, which occurred particularly in the design and construction departments of Saunders International.\
• Income tax expense experienced a decrease from 1.7 million in 2010, to 806 thousand in 2011
• Profit from members of saunders international experienced a decrease from 4,031 million in 2010, to 1,880 million in 2011.
• During this year the principle activities of Saunders were design, construction and maintenance of steel storage tanks and project management of ancillary facilities
• there were LARGE financial costs for this year at 3.6 million due to the ongoing dispute Saunders International was involved in.
• There is a back log on projects in the design and construction industry this year (2011).
• The director believes that Saunders International is in a strong financial position.
• There is a decrease in turnover this year, but an increase in employment opportunities from 170-190.
• Saunders International provides long term remuneration packages for high level management, and key management personnel.
• there was no significant change in state of affairs this year
• Saunders International use external auditing services each year (Deliotte)

KCQ's Annual Report

1. Remuneration- Does anyones report contain remuneration information regarding high level management and directors, etc?

2. Legal expenses- Currently Saunders International is involved in a dispute, does anyone else have any legal expenses present in their organisation, would you please send me a link to your blog so that I can review it?

3.Does anyone have deferred tax assets? does anyone know what this means?

4. Why wouldn't safety figures be reported more efficiently in reports?

5.What causes an organisation to retain their earnings, over giving them as dividends to share holders?

6.Is there a trend in the number of directors meetings held each year? in Saunders International, the minimum number is 8 meetings, and the max is about 10

7.In Saunders International no share options are issued to directors- does anyone elses organisation have this present?

Question 1.2

Here I have answered the Question 1.2, its interesting how much the organisation has to account for monetarily. I hope other people find this interesting!!! Ill be posting to other peoples blogs when the information is available!!

Question 1-2

For your firm, identify three Assets, three Liabilities and three items of Equity. Describe what each item means to you. Put on your blog your answer to this question and comment on the answers to this question of at least three other people. Include links to your blog and also to your comments in other people’s blogs

TITLE	Amount (‘000)	Meaning
ASSETS
Inventories	$1,571	The current on hand stock which is yet to be used and or sold.
Plant and Equipment	$1,792	The value of the equipment and the value of the lease in plant (land) including the accumulated depreciation.
Cash and Cash Equivalents	$12,924	The current cash on hand present within the Saunders International as at 30 June 2013.
LIABILITIES
Provisions	$2,963	Provisions are the costs from the lawsuit that Saunders international is involved in.
Trade and other payables	$6,226	Accounts that are yet to be paid by Saunders International
Current tax liabilities	$1,311	The tax Saunders International is legally obligated to pay as the result of a taxable event
EQUITY
Issued capital	$7,726	The amount of nominal share value held by the shareholders within Saunders International
Retained earnings	$9,099	A portion of the firms income which is withheld by the organisation rather than distributing it to shareholders
Share based payments reserve	$124	The reserve holding the payments to be owed to shareholders