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2023 Audited SFC and SO Balances

The Ayala Multi-Purpose Cooperative's financial condition as of December 31, 2023, shows total assets of approximately 5.23 billion PHP, an increase from 4.72 billion PHP in 2022. The cooperative reported a net surplus of about 453.64 million PHP for the year ended December 31, 2023, up from 344.62 million PHP in 2022. Total liabilities were approximately 684.59 million PHP, with members' equity reaching about 4.55 billion PHP.

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5 views2 pages

2023 Audited SFC and SO Balances

The Ayala Multi-Purpose Cooperative's financial condition as of December 31, 2023, shows total assets of approximately 5.23 billion PHP, an increase from 4.72 billion PHP in 2022. The cooperative reported a net surplus of about 453.64 million PHP for the year ended December 31, 2023, up from 344.62 million PHP in 2022. Total liabilities were approximately 684.59 million PHP, with members' equity reaching about 4.55 billion PHP.

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AYALA MULTI-PURPOSE COOPERATIVE

STATEMENTS OF FINANCIAL CONDITION


As Audited by Isla Lipana & Co.

As at 31 December
2023 2022

ASSETS

Current assets
Cash and cash equivalents 490,072,022 316,159,630
Loans and other receivables, net 1,240,916,359 1,122,439,250
Short-term deposits 650,000,000 1,040,000,000
Financial assets at amortized cost 421,530,000 114,700,000
Other current assets 1,153,251 1,023,937
Total current assets 2,803,671,632 2,594,322,817
Non-current assets
Loans and other receivables, net 1,392,617,631 1,198,121,325
Financial asset at fair value through profit or ̶ 4,780,000
loss
Financial assets at amortized cost 663,290,000 599,020,000
Restricted deposits 350,000,000 300,000,000
Property and equipment, net 8,722,335 2,178,025
Investment property, net 8,964,073 9,336,284
System software, net 813,666 1,062,166
Intangible asset, net 100,000 150,000
Net pension asset 5,504,552 8,152,192
Deferred tax asset 5,192 -
Other non-current assets 1,225,078 1,100,087
Total non-current assets 2,431,242,527 2,123,900,079
Total assets 5,234,914,159 4,718,222,896

LIABILITIES AND MEMBERS’ EQUITY

Current liabilities
Accounts and other payables 238,934,149 229,368,794
Interest on share capital and 385,596,421
patronage refund payable 292,924,153
Due to unions and federations 16,497,058 14,228,844
Notes payable 13,741,289 22,368,925
Income tax payable 33,627 133,154
Total current liabilities 654,802,544 559,023,870
Non-current liability
Notes payable 29,790,280 22,336,171
Total liabilities 684,592,824 581,360,041
Members’ equity
Share capital 4,160,838,695 3,802,037,237
Donated capital 848,771 848,771
Statutory funds 388,633,869 333,976,847
Total equity 4,550,321,335 4,136,862,855
Total liabilities and members’ equity 5,234,914,159 4,718,222,896
AYALA MULTI-PURPOSE COOPERATIVE
STATEMENTS OF OPERATIONS
As Audited by Isla Lipana & Co.

For the Year Ended 31 December


2023 2022
Revenues
Interest income 495,508,629 388,794,486
Penalties and fines 23,212,165 18,952,882
Membership and service fees 12,508,955 10,598,392
Actuarial gain ̶ 2,854,689
Unrealized gain on financial asset at fair 220,000
value through profit or loss -
Miscellaneous revenues 8,564,117 3,280,995
Total revenues 540,013,866 424,481,444
Expenses
Salaries, wages and employee benefits 27,254,568 21,572,557
Provision for losses - loans 24,152,672 28,659,595
Professional fees 6,469,190 5,911,286
Rent 4,369,987 3,209,591
Actuarial loss 3,758,805 ̶
Maintenance fee 3,465,141 3,741,365
Depreciation and amortization 2,821,337 2,224,368
General support services 2,256,928 939,220
Retirement benefit expense 1,914,392 2,558,547
Software licenses 1,888,042 2,011,695
Communication 1,352,108 1,256,669
Utilities 1,065,419 902,469
Meetings and general assemblies 953,709 955,351
Advertising 818,499 604,049
Office supplies 429,538 336,924
Transportation 284,987 184,954
Entertainment, amusement and recreation 240,000 240,000
Member's burial assistance 130,000 380,000
Taxes and licenses 110,224 1,560,016
Unrealized loss on financial asset at fair
value through profit or loss ̶ 465,000
Miscellaneous 2,607,038 1,994,132
Total expenses 86,342,584 79,707,788
Net surplus 453,671,282 344,773,656
Income tax expense 28,435 157,007
Net surplus after income tax 453,642,847 344,616,649
Distribution of net surplus
General reserve fund 45,364,285 34,461,665
Cooperative education and training fund
CETF - local 2,268,214 1,723,083
Due to CETF 2,268,214 1,723,083
Community development fund 13,609,285 10,338,499
Optional fund 4,536,428 3,446,166
Total statutory reserves 68,046,426 51,692,496
Interest on share capital and patronage refund 385,596,421 292,924,153
453,642,847 344,616,649

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