annual report 2o16 · a new updated economic analysis has been commissioned by the sleep health...

www.sleephealthfoundation.org.au

ANNUAL REPORT 2O16

Improving people’s lives through better sleep

SHF-AnnualReport-1016_Layout 1 13/10/2016 12:39 pm

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Contents

3 About us3 Our Mission3 Our strategic priorities4 Message from the Chair5 Achievements

Strategic Priority One – AdvocacyStrategic Priority Two – Sleep Health PromotionStrategic Priority Three - Community EducationStrategic Priority Four - Assuring sleep therapy best practiceStrategic Priority Five - ResearchOther achievements

10 GovernanceBoardBusiness CouncilWorking CommitteesThanks

13 Financial Report

Sleep Health Foundation ABN 91 138 737 854Suite 114, 30 Campbell Street, Blacktown NSW 2148T 61 02 8814 8655 www.sleephealthfoundation.org.au

Sleep Health Foundation Annual Report 2015 - 2016


Sleep Health Foundation Annual Report 2015 - 2016 3

The Sleep Health Foundation is a not for profit healthpromotion charity that aims to raise community awareness ofsleep health issues and to improve public health and safety.

We strive to deepen community understanding of the importance ofsleep for health and performance, why sleep disorders needprofessional diagnosis and treatment and to provide informationabout common sleep difficulties and how to address them.

The Foundation receives no government funding and is supportedby a number of sources, including individual and companydonations, membership fees including from members of theBusiness Council, and corporate sponsorship. It is endorsed toreceive charity tax concessions and as a deductible gift recipient.

All of the educational resources produced by the Foundation aredeveloped and/or reviewed by independent experts selected fortheir knowledge of a particular subject.

To meet our goals we work in partnership with other research,professional and patient advocacy groups including the

• Australasian Sleep Association

• Australian Men’s Shed Association

• CRC for Alertness, Safety and Productivity

• Sleep Disorders Association

• HealthDirect

• Lung Foundation

Our mission

Improving people’s lives through better sleep

Our strategic priorities

• Advocacy

• Health Promotion

• Community Education

• Assuring sleep therapy best practice

• Research

About us


I am pleased to report on a busy andsuccessful year for the Sleep HealthFoundation. Following a useful strategic

planning process, and in consultation withour Business Council members, a plan wasdeveloped to guide activity in 2015-2016.

A strong emphasis was placed on puttingmore effort in to organisationaldevelopment as well as continuing to fulfilour health promotion mission to improvepeople’s lives through better sleep. To thisend we developed a new workingcommittee structure so that selected Boardmembers focus on identifying and guidingactivity to meet our stated objectives.

Our two signature media campaigns whichcelebrate World Sleep Day in March andSleep Awareness Week in July attracted ahigh level of interest with social mediaactivity measures demonstrating thegrowing number of community membersinterested in our messages. Ourcollaboration with the CRC for Alertness,Safety and Productivity saw World SleepDay emphasise the importance ofmonitoring fatigue in night shift workingdrivers and the technologies available to dothat. Sleep Awareness Week focussed onone of the main sleep disorders,Obstructive Sleep Apnea, with a simplemessage “Don’t ignore the gasping snore.See your GP now.” To some degree, ourefforts to promote the fundamentalimportance of sleep is complemented bythe global reporting of sleep healthpromotion and new research findings fromaround the world and the growth inwearable technologies that providefeedback on activity and sleep relatedbehaviour. The US media celebrity AriannaHuffington’s Sleep Revolution campaignwas also taken up by the Australian

Huffington Post while road safetyorganisations in many Australian statesregularly have campaigns usingadvertising, billboards and social media toemphasise the serious dangers of drivingwhen fatigued and sleepy. Members werealso contacted by media throughout theyear to comment on sleep, sleepdisorders and treatments.

As Australia’s leading sleep healthadvocate, we were very happy thatseveral Sleep Health Foundation members,informed by their practice as sleepphysicians, provided their knowledge andperspectives to the 2015 FederalGovernment’s Medical Benefits ScheduleReview.

Another significant achievement this yearhas been the increased number of CPAPsleep therapy suppliers who sought to beassessed under our Code of Practice. It waspleasing that all those who had previouslybeen endorsed have been renewed for asecond year. We also increased themembership of the Business Council with anew sleep therapy provider, GenesisSleepCare joining for the first time andpharmaceutical company Teva, soon tofinalise membership arrangements. Theincome streams from both thesearrangements is very welcome as we planto commission another significanteconomic analysis of the costs of poorsleep health in Australia very soon. We haveraised funds specifically for this importantproject.

We’ve collaborated with some new andunexpected partners, such as the NRL, theAustralian Street Rod Association and theAustralian Men’s Shed Association to reachnew and diverse audiences with relevantinformation. Our Speaker’s Program is also

building instrength andwe are able tomeet thegrowingnumber ofrequests for anexpert speakerto addresscommunity andworkplace

groups about the fundamental importanceof healthy sleep.

It has been very rewarding for me and theBoard to see the growth in effectivenessand professionalism of the Sleep HealthFoundation.

I thank our hard working staff member, MsHelen Burdette for her tireless efforts andmy fellow Board members for theircontributions throughout the year andextend my thanks also to our members,Business Council members and all thosewho have contributed as a volunteer or aspeaker throughout the past 12 months.

Professor David HillmanChair, Sleep Health Foundation

Message from the Chair

4 Sleep Health Foundation Annual Report 2015 - 2016


Strategic Priorities

1Advocacy

Among its activities the SleepHealth Foundation advocates onbehalf of people with sleep

disorders for affordable and accessiblediagnostic and treatment services and,more generally, encourages publicawareness about healthy sleep.

Poor sleep health has significant economicimplications relating to health and othercosts arising from untreated sleepproblems. These include the costsassociated with lost productivity and anincreased risk of motor vehicle crashes andinjuries sustained in the workplace becauseof sleepiness and poor alertness.

A report commissioned by the Sleep HealthFoundation in 2010 examined these costsand the findings were provided toGovernment decision makers to supportpolicy development which would seeSleep Health identified as a nationalhealth priority. While this is yet toeventuate, the findings of the reportcontinue to be quoted as evidence for theneed for continued investment in sleephealth awareness, in sleep and alertnessmanagement related research and inquality treatment services.

A new updated economic analysis hasbeen commissioned by the Sleep HealthFoundation to be released in 2017. Thiswill form the basis of renewed advocacyto government on the strategic economic,safety and productivity benefits ofimproving sleep health.

As advocates many of our members haveprovided expert input to Governmentinquiries, such as the Medical BenefitsSchedule Review.

2Sleep Health

Promotion

Each year the Sleep HealthFoundation meets its goals of

improving community awareness about theimportance of sleep for performance andwell-being by coordinating extensive mediacampaigns in support of two sleep healthpromotion events:

• Annual World Sleep Day coordinatedinternationally by the World Sleep Society

• Sleep Awareness Week.

With no funding available for extensiveadvertising or public relations campaigns toreach in to the broader community, theFoundation relies on capturing the attentionof free media including print, radio and TV.We also reach a wide community audiencethrough social media channels Twitter andFacebook.

World Sleep DayThis year the Foundation’s World Sleep Daypromotion was developed jointly with ourpartners, the Australasian Sleep Associationand the CRC for Alertness, Safety andProductivity. Held in March 2016 the focuswas on the need for new ways to monitorand manage the impaired alertnessassociated with disrupted sleepexperienced by night shift workers. A mediaevent was arranged in Melbourne, withSleep Health Foundation Board Member,Professor Shantha Rajaratnam andresearchers from Monash University, whoare collaborating with award winningAustralian company, Seeing Machines.Seeing Machines is a partner in theAlertness CRC and have donated a uniqueinstrumented vehicle to measure the levelsof sleepiness in shift workers as they driveto and from work. A media release, social

5

Board Member Professor Shantha Rajaratnam with Dr Mike Lenné, Seeing Machines andDr Tracey Sletten, Monash University pictured on World Sleep Day with the motor vehicleinstrumented to measure alertness.

Achievements



media posts and a poster available fromour website for download were the WorldSleep Day promotional activities.

Sleep Awareness WeekThe focus during Sleep Awareness Weekthis year was to raise awareness of theimportance of recognising that snoring andgasping could be because the sufferer hasuntreated obstructive sleep apnea (OSA).OSA is one of the most common sleepdisorders. It is more prevalent in men andolder people and people who are

overweight as well as those who havecertain throat or nose characteristics. Thiscan result in loud snoring and also causesthem to stop breathing momentarily duringsleep with the gasping noticeable as theyresume breathing. While the snoring maybe annoying their partner, more importantly,when people stop breathing many times anight they find it difficult to stay awakeduring the day and may also developdepression and other health problems.

The Foundation’s campaign consisted of aquick and simple on line assessment tool

for OSA, a poster with the byline “Don’tignore the Gasping Snore”, available fordownload from our website and a mediarelease as well as the active promotion ofmany sleep research studies that areunderway around Australia which requirevolunteers. Volunteers in sleep researchare frequently assessed with a sleep study.Those who suspect they may have sleepapnea or another sleep problem may beeligible for a study which will provide a freeassessment while simultaneouslycontributing to the development of newknowledge and innovative treatments.

During the week Foundation ChairProfessor David Hillman and Foundationmembers Dr Siobhan Banks, Dr MareeBarnes, Dr Alan Young and in NewZealand, Associate Professor Alister Neillwere all contacted by the media forcomment.

A number of health organisations such asAustralian Men’s Shed Association, RACGP,BUPA and the Lung Foundation supportedour efforts by promoting the week throughtheir social media channels.

The week was assessed as very successfulwith significant increases in the number ofmedia mentions and social media exposureincluding retweets and Facebook “Likes”,and traffic to the Foundation’s website.

Other health

promotion activities

The Foundation not only stages these twomajor campaigns, but releases informationand is available to provide expert commentthroughout the year. A total of eight mediareleases were issued throughout 2015 -2016, attracting extensive media interestand resulting in print, radio and TVcommentary.


Achievements


3Community

Education

The Sleep Health Foundationwebsite is the primary vehicle

for making information about sleepavailable to the Australian community. Itprovides free access to around 70 FactSheets that cover an extensive range oftopics, all available for download in PDFformat. The availability of the material onthe website is regularly promoted by astrategic social media communicationsplan which highlights specific issues anddrives readers to the website for moredetailed information. In the past 12months, the website was redesigned to beeasier to navigate for our two primaryaudiences – Professionals and theCommunity. The website attracts up to1000 visits per day. Our social mediapresence is also growing with both Twitterand Facebook followers steadily increasingand selected retweets or Facebook Sharesof popular commentary resulting in storiesreaching over 10,000 readers.

Foundation Board members are frequentlyapproached by the media to comment intheir capacity as a sleep expert or theysubmit reports for publication in both peerreviewed journals and other more popularlyaccessible publications such as on linejournal, The Conversation. For example, inthe past twelve months, Board Member DrSiobhan Banks had the following twoarticles published in The Conversation -Health Check: three reasons why sleep isimportant for your health and co-authoredwith Foundation member Dr MelindaJackson, Did we used to have two sleepsrather than one? Should we again?

In December 2015, the Sleep HealthFoundation was approached by the

National Rugby League (NRL) to provideinput about sleep health to their health andwellbeing program as well as help thempromote the program to the schoolcommunity. The two programs, NRLWellbeing for primary school students andDream, Believe, Achieve for high schoolstudents, are linked to the AustralianCurriculum, Assessment and ReportingAuthority. Foundation member, ProfessorRon Grunstein, a sleep physician whoheads up the Woolcock Institute forMedical Research Sleep and CircadianResearch Group provided comment for themedia release which announced theprogram, commenting, “Healthy sleephelps young people be more attentive andlearn and perform better, both as studentsand in their sporting activities.”

To provide information about commonsleep disorders including sleep apnea andits treatment as well as general sleephealth information, the Foundation

participated, jointly with Business Councilmember Fisher and Paykel, in a men’shealth awareness initiative coordinated bythe Australian Street Rod Association. ThisChequered Flag Day event was held atSandown Racecourse in May 2015. Fisherand Paykel generously provided the displaystand and CPAP equipment as well asattending with the SHF’s Board Member,Professor Dorothy Bruck and severalFoundation volunteers to staff the standand answer any questions from visitors.

To reach community audiences moredirectly the Foundation has established aSpeaker’s Program. Expert speakers aredrawn from our membership and haveproved a very popular resource. The aim isto grow this program, and when resourcesbecome available, to develop apresentation package with shortprofessionally made videos that illustratespecific sleep topics. In the past year, withminimum promotion, presentations about


Achievements


sleep health have been made to audiencesas diverse as

• Staff of Carlton and United Brewery

• Staff of Treasury Wine Estates

• Staff of the Victorian Arts Centre

• Facilitators for Diabetes Australiaprograms

• Disadvantaged youth in The Big Issue’sStreet Soccer programs

• Workers in several Local Governmentorganisations

• Students in high schools

• Residents and staff of nursing homes

• Staff working for a nationalconstruction, property development andcivil and mining services company,Watpac.

Community members frequently call theoffices of the Foundation seeking advicebecause not everyone has easy access orproficiency with using a computer and socannot access our online information.While we are not able to provide personalmedical advice we endeavour to assistthem and provide support.

4Assuring sleep

therapy best

practice

The Sleep Health Foundationhas developed a Code of Practice forsuppliers of CPAP sleep therapy. Thepurpose of the Code of Practice is toencourage high standards including acomprehensive and considered approachto patients and their treatment. It enshrinesthe following 13 principles:

• Patient first

• Opportunity for trial before sale

• Provision of after-sales support

• Range of masks/devices

• Capacity for face-to-face consultation

• Accurate, confidential record keeping

• Scheduled follow up including provisionfor data download

• Encourage active patient participation indecision making

• Manage conflicts of interest: separatediagnostic from treatment services.Patient to be independently assessedby an appropriately trained medicalpractitioner before supply

• Maintain in service development andtraining

• Act in a professional manner withobjectivity and integrity

• Ensure changes to therapy are made inconsultation with medical practitioner

• Work collaboratively with otherhealthcare professionals

The Code is endorsed by the AustralasianSleep Association, the national peakprofessional body of sleep clinicians andsleep scientists. To ensure that standardsare maintained over time, businesses must


Achievements

Sleep Health Foundation at Sleep DownUnder 2015 in Melbourne.


renew their registration on an annualbasis. Registration as a Code of Practiceadherent and annual certification givesboth sleep therapy consumers and sleepphysicians confidence, that the Code ofPractice endorsed supplier is committedto best practice. Currently the number ofbusinesses that have been approved hasgrown to 38 and all members who signedup in the first year have renewed for asecond year.

5Research

An annual scholarship to thevalue of up to $35,000 peryear has been established in

the name of Resmed and the Sleep HealthFoundation to provide a stipend foryounger Fellows and trainees in SleepMedicine. Projects may be in basic, clinicalepidemiological or public health aspects ofSleep Medicine. Australian and NewZealand Fellows and trainees of the RoyalAustralian College of Physicians, (itsDivisions, Faculties and Chaptersspecialising in Sleep Medicine) are eligibleto apply. The Scholarship is made availableby a grant from the ResMed FoundationLtd. It is administered by the RACP andThe Australasian Sleep Association. In2015, the ResMed Foundation/SleepHealth Foundation Research EntryScholarship was awarded to Dr AnnaMohammadieh to research the relationshipbetween Obstructive Sleep Apnoea andAtrial Fibrillation. Dr Mohammadieh is aRespiratory and Sleep Medicine Physician

with a strong research interest. She haspresented her work at major national andinternational scientific meetings andpublished in medical journals including theMedical Journal of Australia and theEuropean Respiratory Journal.

Recognising the value of current andrelevant data on sleep habits and needs inAustralia, the Foundation called for tendersto conduct research consistent with the2002 US National Sleep Foundation Sleepin Adults survey to assess Adult Sleep inAustralia.

Five research organisations submitted tocarry out the research with the Universityof Adelaide winning the tender and the$20,000 grant. As at 30 June 2016, thefindings of the research were beingprepared for publication in a peer reviewedjournal. It is anticipated that their findingswill be made available in early 2017.

Other

achievements

Establishment of the Sleep HealthFoundation in New Zealand (SHFNZ)

Over the past 12 months, in a verywelcome development, the Woodville LionsOrganisation in New Zealand has fundedthe establishment of the Sleep HealthFoundation NZ in support of their member,Mr Warren Jones. Mr Jones was diagnosedwith sleep apnea and was constantlyfeeling tired and sleepy. He is now feelingthe benefits of using a continuous positiveairways pressure (CPAP) machine and theLions Club is keen to make sure the sleephealth message reaches more people inthe NZ community. The SHFNZ is bringingtogether a wide range of sleep healthprofessionals from the medical sector,science and research and education. Thenew foundation will aim to promote theprevention and control of sleep disordersand sleep deprivation. A key objective forthe SHFNZ is to identify the most efficientand positive pathways to cost-effective,readily available diagnosis, treatment andsupport for sufferers of sleep disorders inNZ.

The SHFNZ has formed an inaugural boardthat includes four elected sectorrepresentatives including Assoc. ProfessorAlister Neill, Professor Philippa Gander, Dr Laura Wu and Dr Alex Bartle.


Dr Anna Mohammadieh, 2015 ResMed Foundation/ Sleep Health Foundation Scholar

Achievements


The Sleep Health Foundation wasestablished in 2009.

Board

The Sleep Health Foundation is governedby a Board, comprising

• Four directors appointed by themembers

• Two directors appointed by the Board ofthe Australasian Sleep Association (thepeak professional body of Australianand New Zealand sleep clinicians andscientists)

• Three independent directors appointedby the Board itself.

Current Board members are:

Professor David Hillman, Chair

Dr Siobhan Banks

Professor Dorothy Bruck

Professor Peter Cistulli

Associate Professor Darren Mansfield

Professor Shantha Rajaratnam

Joseph Soda

Jason van Schie

Anthony Williams

Helen Burdette, Executive Secretary

The Board meets four times a year with theAnnual General Meeting coinciding withthe annual “Sleep DownUnder”Australasian Sleep Association Conference.

The Board is supported by the BusinessCouncil and a number of workingcommittees.

Business Council

The Foundation’s Business Council wasestablished in 2012 in order to provide aformal consultative process with the widersleep therapy industry.

We are delighted that this year a newmember has joined the Council withGenesis SleepCare bringing anotherperspective from those providing sleepdisorder services. Arrangements for Teva,a pharmaceutical company, to join theCouncil were just being finalised as thefinancial year came to an end.

As at 30 June 2016, the Business Councilwas made up of representatives of thefollowing companies:

· Air Liquide

· Cooperative Research Centre forAlertness, Safety and Productivity

· Fisher and Paykel Healthcare

· Genesis SleepCare

· Philips Home Healthcare Solutions

· ResMed Asia Pacific Ltd

The responsibilities of the Business Councilinclude:

• To identify unmet needs in publiceducation, advocacy and researchrelating to sleep and its disorders

• To identify funding opportunities and/orresources to assist the Foundationachieve its aims

• To identify other potential corporatepartners to help extend the role andinfluence of the Foundation for thepublic good

• To assess and evaluate the quality ofbusiness practices relevant to theprovision of services or productsrelevant to improving sleep qualityand/or length

• Development of a communications planfor the Foundation’s key commercialactivities

• Identify opportunities for the Foundationto lobby government at all levels toimprove sleep health funding

• Review, monitor and report to the boardon business development opportunities

• To assist the Board in evaluation of SHFbusiness practices and in other mattersfor which the Board seeks its advice.

Governance

Anthony Williams, CEO,Cooperative Research Centrefor Alertness, Safety andProductivity (Alertness CRC)and Business Council Chair




Working Committees

In the past twelve months, a number ofWorking Committees have beenestablished to guide the work program ofthe Foundation. The effectiveness of thiscommittee structure will be reviewedannually.

The current configuration is:

• Code of Practice Committee

• Finance Committee

• Marketing and CommunicationsCommittee

• Partnerships and RelationshipsCommittee

• Advocacy, Lobbying and MembershipCommittee

The Sleep Health Foundation membershiptotalled 250 as at 30 June 2016.Membership fees support the communityeducation work of the Foundation and thenetwork of members enable us to recruitnew speakers for our Speaker Program.

Thanks

We would like to thank all those whosupport the Foundation financially andthrough their volunteer efforts especially:

• Our members

• Our Business Council members

• Volunteers for our Speaker’s Program

• The Alertness CRC for support for WorldSleep Day

• The Australasian Sleep Association forits annual contribution to our operatingbudget.

The Board would also like to extend theirthanks to Executive Secretary HelenBurdette, who provides secretariat supportfor the Board and all committees,administers all activities including healthpromotion and community educationinitiatives and manages the website, socialmedia and other communications.

Governance

Board

Executive Committee

Code of Practice

Committee

FinanceCommittee

Marketing &Communications

Committee

Partnerships &Relationships

Committee

Advocacy,Lobbying &MembershipCommittee

Business Council



SDA

Sleep Health Foundation is supported by



Financial Report

FOR THE YEAR ENDED 30 JUNE 2016

Sleep Health Foundation ABN 91 138 737 854Suite 114, 30 Campbell Street, Blacktown NSW 2148T 61 02 8814 8655 www.sleephealthfoundation.org.au

Liability limited by a scheme approved under Professional Standards Legislation

Contents

14 Directors’ report15 Auditor’s independence declaration16 Statement of profit or loss and other comprehensive income17 Statement of financial position18 Statement of changes in equity18 Statement of cash flows19 Notes to the financial statements24 Directors' declaration25 Independent auditor’s report to the member



The directors present their report on the company for the financialyear ended 30 June 2016.

Information on directors

The names of each person who has been a director during the yearand to the date of this report are:

David Hillman

Dorothy Bruck

Peter Cistulli

Joseph Soda

Siobhan Banks

Jason Van Schie

Shantha Rajaratnam (appointed on 23 October 2015)

Anthony Williams (appointed on 23 October 2015)

Darren Mansfield (appointed on 14 September 2016)

Simon Joosten (appointed on 23 October 2015, resigned on 5 May 2016)

Douglas McEvoy (resigned on 23 October 2015)

Craig Hukins (resigned on 23 October 2015)

Graham Gourd (resigned on 23 October 2015)

Directors have been in office since the start of the financial year tothe date of this report unless otherwise stated.

Operating results

The loss of the company after providing for income tax amountedto $3,374.

Significant changes in the state of affairs

There have been no significant changes in the state of affairs ofthe company during the year.

Principal activities

The principal activities of the company during the financial yearwere:

• Advocacy of sleep health issues to government, employerbodies, road safety authorities and other organisations;

• Raising public awareness and community involvement aboutsleep health issues and their resolution; and

• Undertaking targeted education and service deliveryprogrammes in relation to sleep health issues.

No significant change in the nature of the company’s activityoccurred during the financial year.

Events after the reporting date

No matters or circumstances have arisen since the end of thefinancial year which significantly affected or may significantly affectthe operations of the company, the results of those operations, orthe state of affairs of the company in future financial years.

Environmental issues

The company’s operations are not regulated by any significantenvironmental regulations under a law of the Commonwealth or ofa state or territory of Australia.

Indemnification and insurance of officers and auditors

No indemnities have been given or insurance premiums paid,during or since the end of the financial year, for any person who isor has been an officer or auditor of the company.

Auditor’s independence declaration

The lead auditor's independence declaration in accordance withsection 307C of the Corporations Act 2001, for the year ended 30June 2016 has been received and can be found on the followingpage.

Signed in accordance with a resolution of the Board of Directors:

Director:

David Russell Hillman

Director:

Peter Anthony Cistulli

Dated this 22nd day of September 2016.

Directors’ Report



UNDER SECTION 307C OF THE CORPORATIONS ACT 2001TO THE DIRECTORS OF THE SLEEP HEALTH FOUNDATION

We hereby declare, that to the best of our knowledge and belief, during the financial year ended 30 June 2016 there have been no:

(i) contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

(ii) contraventions of any applicable code of professional conduct in relation to the audit.

Name of Firm: Boyd Audit

Chartered Accountants

Name of Auditor:

Lionel Cowan Registered company auditor no 3392

Address: Suite 24, 4 Station Street Fairfield NSW 2165

Dated this 22nd day of September 2016

Auditor’s Independence Declaration



Statement of Profit or Loss

and Other Comprehensive Income

for the Year ended 30 June 2016

2016 2015

Note $ $

Income

Revenue 2 208,640 208,550

Expenditure

Audit expenses (5,050) (5,000)

Advertising expenses (45,800) (57,871)

Other expenses 3 (161,163) (139,568)

(3,374) 6,111

Net year current loss (3,374) 6,111

Total comprehensive income attributable to members of the entity 124,665 118,554

Total comprehensive income for the year 121,291 124,665

The accompanying notes form part of these financial statements.



Statement of Financial Position

as at 30 June 2016

2016 2015

Note $ $

ASSETS

Current Assets

Cash and cash equivalents 4 139,395 158,239

Trade and other receivables 5 39,567 3,740

TOTAL CURRENT ASSETS 178,962 161,979

TOTAL ASSETS 178,962 161,979

LIABILITIES

Current Liabilities

Trade and other payables 6 57,671 37,314

TOTAL CURRENT LIABILITIES 57,671 37,314

TOTAL LIABILITIES 57,671 37,314

NET ASSETS 121,291 124,665

EQUITY

Retained surplus 7 121,291 124,665

TOTAL EQUITY 121,291 124,665




Statement of Changes in Equity


Retained earnings Total

Note $ $

Balance at 1 July 2014 118,554 118,554

Total comprehensive income attributable to members of the entity 6,111 6,111

Balance at 30 June 2015 124,665 124,665

Total comprehensive income attributable to members of the entity (3,374) (3,374)

Balance at 30 June 2016 7 121,291 121,291

Statement of Cash Flows


2016 2015

Note $ $

Cash Flows from Operating Activities

Membership & partnership fees received 170,124 106,076

Donations received 23,303 56,762

Payments to suppliers & others (226,640) (172,515)

Interest received 1,827 2,781

Other income 12,543 20,691

Net cash provided by (used in) operating activities 8 (18,843) 13,795

Net increase (decrease) in cash held (18,843) 13,795

Cash at beginning of financial year 158,239 144,444

Cash at end of financial year 4 139,395 158,239




The financial statements cover the business of The Sleep HealthFoundation as individual entity, incorporated and domiciled inAustralia. The Sleep Health Foundation is a company limited byguarantee.

The financial statements were authorised for issue on 22September 2016 by the directors of the company.

1 Basis of preparationThe directors have prepared the financial statements on thebasis that the company is non-reporting since there areunlikely to be any users who would rely on the generalpurpose financial statements. These financial statements aretherefore special purpose financial statements that have beenprepared in order to meet the requirements of theCorporations Act 2001. The Company is a not-for profit entityfor financial reporting purposes under Australian Accountingstandards.

The special purpose financial statements have been preparedin accordance with the mandatory Australian AccountingStandards applicable to entities reporting under theCorporations Act 2001 and the significant accounting policiesdescribed below, which the directors have determined areappropriate to meet the needs of the members.

The financial statements, except for the cash flow information,have been prepared on an accruals basis and are based onhistorical costs modified, where applicable, by themeasurement at fair value of selected non-current assets,financial assets and financial liabilities.

Significant accounting policies adopted in the preparation ofthese financial statements are presented below and areconsistent with prior reporting periods unless otherwisestated.

Summary of significant accounting policiesFinancial instruments

Financial instruments are recognised initially using trade dateaccounting, i.e. on the date that company becomes party tothe contractual provisions of the instrument.

On initial recognition, all financial instruments are measured atfair value plus transaction costs (except for instrumentsmeasured at fair value through profit or loss where transactioncosts are expensed as incurred).

Loans and receivables

Loans and receivables are non-derivative financial assets withfixed or determinable payments that are not quoted in an

active market. They arise principally through the provision ofgoods and services to customers but also incorporate othertypes of contractual monetary assets.

After initial recognition these are measured at amortised costusing the effective interest method, less provision forimpairment. Any change in their value is recognised in profit orloss.

The company's trade and most other receivables fall into thiscategory of financial instruments.

Significant receivables are considered for impairment on anindividual asset basis when they are past due at the reportingdate or when objective evidence is received that a specificcounterparty will default.

The amount of the impairment is the difference between thenet carrying amount and the present value of the futureexpected cash flows associated with the impaired receivable.

In some circumstances, the company renegotiates repaymentterms with customers which may lead to changes in thetiming of the payments, the company does not necessarilyconsider the balance to be impaired, however assessment ismade on a case-by-case basis.

Available-for-sale financial assets

Available-for-sale financial assets are non-derivative financialassets that do not qualify for inclusion in any of the othercategories of financial assets or which have been designatedin this category. The company’s available-for-sale financialassets include listed securities.

Purchases and sales of available-for-sale investments arerecognised on settlement date.

Available-for-sale financial assets are measured at fair value,with subsequent changes in value recognised in othercomprehensive income.

Gains and losses arising from financial instruments classifiedas available-for-sale are only recognised in profit or loss whenthey are sold or when the investment is impaired.

In the case of impairment or sale, any gain or loss previouslyrecognised in equity is transferred to the profit or loss.

A significant or prolonged decline in value of an available-for-sale asset below its cost is objective evidence of impairment,in this case, the cumulative loss that has been recognised inother comprehensive income is reclassified from equity toprofit or loss as a reclassification adjustment. Any subsequentincrease in the value of the asset is taken directly to othercomprehensive income.

Notes to the Financial Statements



Impairment of non-financial assetsAt the end of each reporting period the company determineswhether there is an evidence of an impairment indicator fornon-financial assets.

Where this indicator exists and regardless for goodwill,indefinite life intangible assets and intangible assets not yetavailable for use, the recoverable amount of the assets isestimated.

Where assets do not operate independently of other assets,the recoverable amount of the relevant cash-generating unit(CGU) is estimated.

The recoverable amount of an asset or CGU is the higher ofthe fair value less costs of disposal and the value in use. Valuein use is the present value of the future cash flows expectedto be derived from an asset or cash-generating unit.

Where the recoverable amount is less than the carryingamount, an impairment loss is recognised in profit or loss.

Reversal indicators are considered in subsequent periods forall assets which have suffered an impairment loss , except forgoodwill.

Cash and Cash EquivalentsCash and cash equivalents comprises cash on hand, demanddeposits and short-term investments which are readilyconvertible to known amounts of cash and which are subjectto an insignificant risk of change in value.

Revenue and other incomeRevenue is recognised when the company is entitled to it.

Interest revenue

Interest revenue is recognised using the effective interest ratemethod.

Rendering of services

Revenue in relation to rendering of services is recogniseddepends on whether the outcome of the services can bemeasured reliably. If this is the case then the stage ofcompletion of the services is used to determine theappropriate level of revenue to be recognised in the period. Ifthe outcome cannot be reliably measured then revenue isrecognised to the extent of expenses recognised that arerecoverable.

Other income

Other income is recognised on an accruals basis when thecompany is entitled to it.

Comparative amountsComparatives are consistent with prior years, unless otherwisestated.

Where a change in comparatives has also affected theopening retained surplus previously presented in acomparative period, an opening statement of financial positionat the earliest date of the comparative period has beenpresented.






2016 2015

$ $

2 Income

Membership fees 15,198 14,159

Partnership fees 140,000 114,167

Donations 39,003 52,402

Interest received 1,827 2,781

Other income 12,612 25,041

208,640 208,550

3 Other expenses

Bank charges 731 691

Accounting & bookkeeping fees 6,240 5,850

Consultants fees 18,523 6,119

Design - education & promotion - 120

Donations 500 600

Dues & subscriptions 918 978

Fees - Partnerships 40,000 40,000

Office expenses 727 608

Insurance 1,373 1,296

Legal costs - 3,000

Meetings 5,364 5,151

Postage 378 384

Printing & stationery 1,897 5,479

Research grants 16,000 -

Secretarial fees 56,725 54,815

Staff amenities - 73

Staff training & conferences 100 2,373

Travelling 168 341

Website costs 11,519 11,690

161,163 139,568




2016 2015

$ $

4 Cash and Cash Equivalents

Cash at bank 31,422 47,092

Savings accounts 107,973 111,147

139,395 158,239

Reconciliation of cash

Cash and cash equivalents reported in the cash flow statement are reconciled to the equivalent items in the balance sheet as follows:

Cash and cash equivalents 139,395 158,239

139,395 158,239

5 Trade and Other Receivables

Current

Trade Debtors 39,567 3,740

6 Trade and Other Payables

Current

Trade creditors 21,201 16,859

Other creditors 3,522 5,829

Income in advance 31,750 14,548

Credit card liabilities 1,198 78

57,671 37,314

7 Retained Surplus

Retained surplus at the beginning of the financial year 124,664 118,554

(Net loss) Net surplus attributable to members of the company (3,374) 6,111

Retained earnings at the end of the financial year 121,291 124,665





2016 2015

$ $

8 Cash flow information

Reconciliation of Cash Flow from operations with net current year surplus

Net current year surplus (3,374) 6,111

Changes in assets and liabilities

Decrease/(Increase) in trade and other receivables (33,369) (5,084)

(Decrease)/Increase in payables 697 11,911

(Decrease)Increase in income in advance 17,202 856

(18,843) 13,795

9 Company details

The registered office and principal place of business is:

The Sleep Health FoundationSuite 114, 30 Campbell StreetBlacktown NSW 2148

10 Members’ Guarantee

The entity is incorporated under the Corporations Act 2001 and is a company limited by guarantee. If the company is wound up, theconstitution states that each member is required to contribute a maximum of $10 each towards meeting any outstanding and obligationsof the company. At 30 June 2016 the number of members was 255 (2015:167).





The directors have determined that the company is not a reporting entity and that this special purpose financial report should be preparedin accordance with the accounting policies described in Note 1 to the financial statements.

The directors of the company declare that:

1. The financial statements and notes, as set out in this report, are in accordance with the Corporations Act 2001 and:

a. comply with the Australian Accounting Standards applicable to the company; and

b. give a true and fair view of the financial position of the company as at 30 June 2016 and of its performance for the yearended on that date in accordance with the accounting policies described in Note 1 to the financial statements.

2. In the directors' opinion there are reasonable grounds to believe that the company will be able to pay its debts as and whenthey become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Director:

David Russell Hillman

Director:

Peter Anthony Cistulli

Dated this 22nd day of September 2016.

Director’s Declaration




TO THE MEMBERS OF THE SLEEP HEALTH FOUNDATIONABN 91 138 737 854

Report on the financial report

We have audited the accompanying financial report, being a special purpose financial report, of The Sleep Health Foundation whichcomprises the statement of financial position as at 30 June 2016, and statement of profit or loss and other comprehensive income,statement of changes in equity and statement of cash flows for the year then ended, a summary of significant accounting policies and otherexplanatory notes and the directors’ declaration.

Directors’ responsibility for the financial report

The directors of the company are responsible for the preparation and fair presentation of the financial report and have determined that theaccounting policies described in Note 1 to the financial statements, which form part of the financial report, are appropriate to meet thefinancial reporting requirements of the company's constitution and are appropriate to meet the needs of the members. The directors'responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial reportthat is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and makingaccounting estimates that are reasonable in the circumstances.

Auditor’s responsibility

Our responsibility is to express an opinion on the financial report based on our audit. No opinion is expressed as to whether the accountingpolicies used, as described in Note 1, are appropriate to meet the needs of the members. We conducted our audit in accordance withAustralian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to auditengagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The proceduresselected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whetherdue to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fairpresentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overallpresentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001.

Independent Auditor’s Report



Auditor’s opinion

In our opinion, the financial report of The Sleep Health Foundation is in accordance with the Corporations Act 2001, including:

a. giving a true and fair view of the company’s financial position as at 30 June 2016 and of its performance for the year ended on thatdate; and

b. complying with Australian Accounting Standards to the extent described in Note 1 and the Corporations Regulations 2001.

Basis of accounting

Without modifying our opinion, we draw attention to Note 1 to the financial report, which describes the basis of accounting. The financialreport has been prepared for the purpose of fulfilling the directors’ financial reporting responsibilities under the Corporations Act 2001. As aresult, the financial report may not be suitable for another purpose.

Name of Firm: Boyd Audit

Chartered Accountants

Name of Auditor:

Lionel Cowan Registered company auditor no 3392

Address: Suite 24, 4 Station Street Fairfield NSW 2165

Dated this 22nd day of September 2016

Independent Auditor’s Report



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Go to www.sleephealthfoundation.org.au to download ourexpert-written Sleep Health Fact Sheets...

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ABN 91 138 737 854Suite 114, 30 Campbell StreetBlacktown NSW 2148T 61 02 8814 8655www.sleephealthfoundation.org.au


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