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During the financial year, five (5) meetings of Directors were held. The number of meetings attended by each Director during the year is stated in this report.

The Company is incorporated under the Corporations Act 2001 and is a Company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstanding obligations of the entity. At 31 December 2022, the total amount that members of the Company are liable to contribute if the Company is wound up is $20 (2021: $20).

Principal Activities

The principal activity of the Company during the financial year was to assist the Church of Jesus Christ of Latter-day Saints in the pursuit of its charitable purposes, including in particular the religious, missionary, educational, humanitarian, health and welfare programmes of the Church. There were no significant changes in the nature of those activities during the year.

Review and results of operations

During the year, the Company continued to engage in its principal activity, the results of which are disclosed in the attached financial statements.

The profit / (loss) of the company for the financial year after providing for income tax amounted to $4,784,503 (2021: Loss $2,644,067).

Auditor’s Independence Declaration

A copy of the auditor’s independence declaration for the year ended 31 December 2022 has been received and can be found on page 5 of the financial report. Signed in accordance with a Resolution of the Board of Directors,

Douglas J. Martin

Chairman and Director

Paul G. Gray

Director

Dated: 05 June 2023

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