It is very pleasing to report that OzHarvest was able to achieve Total Revenue for the year ended 30 June 2019 of $ 15,205,556 (FY18: $13,812,011) an increase of 10% over the prior year. The CEO Cookoff was an enormous success delivering a 28% increase in donations over the prior year. Income from Corporate partners continues to grow and the Cooking for a Cause program also delivered more corporate experiences.

Demand for food rescue services from both food donors and the recipient charities continues to grow and this has driven a further increase in employee numbers and in the number of food rescue vehicles. OzHarvest has also continued to expand in education with FEAST now into its second year adding to the existing NEST and Nourish programs. This has led to a rise in the organisation’s operating expenses to $15,502,645.

The net result was a deficit of $297,089. This compares to a surplus of $146,957 reported last year.

OzHarvest continues to invest in new and innovative ways to provide sustainable funding for its expanding services. This includes the establishment of ForPurposeCo in April 2018 which was set up as a social enterprise to build capability, diversify revenue streams and increase funding to sustain OzHarvest into the future.

The result for the year means OzHarvest’s net asset position is now $5,483,715 and this includes cash and short term deposits of $3,803,186.

I wish to thank the Graham Jowett (CFO), Matt Holmes (Financial Controller) and their team for their hard work and dedication. I also acknowledge the work and support of the auditors Ernst & Young.

– Kieran Pryke

Treasurer, OzHarvest Board Director

The summary financial statements, which comprise the summary statement of financial position as at 30 June 2019, the summary statement of comprehensive income and summary statement of cash flows for the year then ended, are derived from the audited financial report of OzHarvest Limited (the Company) for the year ended 30 June 2019.

In our opinion, the accompanying summary financial statements are consistent, in all material respects, with the audited financial report.

The summary financial statements do not contain all the disclosures required by Australian Accounting Standards and the Australian Not-for-Profits Commission Act 2012. Reading the summary financial statements and the auditor’s report thereon, therefore, is not a substitute for reading the audited financial report and the auditor’s report thereon.

We expressed an unmodified audit opinion on the audited financial report in our report dated 30 October 2019. The audited financial report and the summary financial statements do not reflect the effects of events that occurred subsequent to the date of our report on the audited financial report.

Our auditor’s report on the Company’s audited financial report for the year ended 30 June 2019 draws attention to Note 1 of the financial report which describes the basis of accounting. That financial report is prepared to assist the Company to meet the requirements of Australian Charities and Not-for-Profits Commission Act 2012. As a result, the summary financial statements may not be suitable for another purpose.

The directors of the Company are responsible for the preparation of the summary financial statements in accordance with the summary of accounting policies described in Note 1 of the audited financial report of OzHarvest Limited.

Our responsibility is to express an opinion on whether the summary financial statements are consistent, in all material respects, with the audited financial report based on our procedures, which were conducted in accordance with Auditing Standard ASA 810 Engagements to Report on Summary Financial Statements.

– Ernst & Young

Sydney, 19 November 2019