Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2020
(5)
CHSI
$
WSPS
74.36% share
$
Assets 4,174,981 3,104,516
Liabilities 842,122 626,202
Net assets 3,332,859 2,478,314
Operating results (period from April 1, 2019 to March 31, 2020)
Revenue 4,886,076 3,633,286
Expenses (operating) 5,628,493 4,185,347
Shortfall of revenue over expenses (742,417) (552,061)
Decrease in net assets (742,417) (552,061)
Cash flows
Operating (88,702) (65,959)
Investing (760,806) (565,735)
Decrease in cash during the period (849,508) (631,694)
2020
$
2019
$
Investment consists of
Balance – Beginning of year 3,030,128 3,422,322
Proportionate share of shortfall of revenue over expenses
for the year (552,061) (392,194)
Balance – End of year 2,478,067 3,030,128
5 Capital assets
2020 2019
Cost
$
Accumulated
amortization
$
Net
$
Net
$
Computer software 906,749 906,749 - -
Office equipment 998,294 998,294 - -
Computer equipment 1,069,663 918,662 151,001 251,667
Furniture 823,883 823,883 - -
Leasehold improvements 2,804,623 2,646,994 157,629 330,561
6,603,212 6,294,582 308,630 582,228
6 Government remittances
Included in accounts payable and accrued liabilities are government remittances including federal and
provincial sales tax, payroll withholdings and related tax of $84,580 (2019 – $226,190).
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