Acumentis : Annual Report to shareholders 2023

annual report

Annual Financial Statements 30 June 2023

Acumentis Group Limited (ASX: ACU)

ABN 50 102 320 329

TABLE OF CONTENTS
1. Introduction
Chairman's Report	08
CEO's Report	10
2. Financial statements
Directors' Report	16
Auditor's Independence Declaration	33
Statement of Profit or Loss and Other
Comprehensive Income	34
Statement of Financial Position	35
Statement of Changes in Equity	36
Statement of Cash Flows	37
3. Notes to consolidated financial
statements
How the Numbers are Calculated	40
Revenue	40
Material Profit or Loss Items	41
Other Income and Expense Items	41
Income Tax Expense	42
Financial Assets and Liabilities	43
Non Financial Assets and Liabilities	50
Equity	62
Other Reserves	64
Cash Flow Information	65

4. Risk
Significant Estimates & Judgements	......... 67
Financial Risk Management	67
Capital Management	72
5. Group structure
Business Combinations	77
Interests of Other Entities	80
6. Unrecognised items
Contingent Liabilities	83
Commitments	83
Events occurring after the
reporting period	84
7. Other information
Related Party Transactions	87
Share-based Payments	88
Remuneration of Auditors	90
Earning Per Share	90
Parent Entity Financial Information	92
Going concern	92
Summary of Significant
Accounting Policies	93
7. Directors' declaration
Directors' Declaration	107
Independent Auditor's Report	108
ASX Additional Information	112

Introduction

ASX:ACU FY22-23

ACUMENTIS 2023 ANNUAL REVIEW

Acumentis continues its unwavering commitment to delivering service excellence and ensuring decision certainty for our valued clients nationwide. Homeowners, lenders, and corporations consistently rely on Acumentis for trusted property valuations and expert guidance.

The past year has been marked by a rapidly changing property market, post pandemic recovery, and the influence of significant cash rate increases. In response, the Acumentis team has shown remarkable agility while maintaining a steadfast focus on our strategic objective: diversification.

Our primary focus throughout FY23 has centred on diversifying our services and strengthening our team's capabilities to align with this continuing transformation.

Acumentis has been delivering property valuation expertise since 1905 to financial

institutions, governments, companies, and individuals across Australia. Acumentis provides this expertise nationwide from 45 metropolitan, regional and rural locations, with a team of over 330 property professionals.

Acumentis Annual Report 2023

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