Bismore Pty Ltd
	As Trustee for the The Gilmore Investment Unit Trust
	ACN 081 141 326
	Financial Statements
	For the Year ended 30 June 2021

	- 1 -

	The Gilmore Investment Unit Trust
	Balance Sheet
	As at 30 June 2021

	Note	2021	2020
	$	$

	Current Assets
	Unpaid Trust Distributions	5	-	319

	Total Current Assets	-	319

	Non-Current Assets
	Property, Plant and Equipment	3	-	211,235
	Intangible Assets	4	1,115	1,115

	Total Non-Current Assets	1,115	212,350

	Total Assets	1,115	212,669

	Current Liabilities
	Unpaid Trust Distributions	5	1,115	-

	Total Current Liabilities	1,115	-

	Total Liabilities	1,115	-

	Net Assets	-	212,669

	Trust Funds
	Unit Capital	-	212,669
	Total Trust Funds	6	-	212,669

The accompanying notes form part of these financial statements.
These financial statements have not been subject to audit or review and should be read in 
conjunction with the attached Compilation Report.
	- 2 -

	The Gilmore Investment Unit Trust
	Rental Income Statement
	For the Year ended 30 June 2021

	2021	2020
	$	$

	Rental Income
	Rent Received	30,100	36,400

	Less Expenses
	Agent's Fees	1,666	1,884
	Body Corporate Fees	4,629	3,265
	Depreciation	3,001	3,016
	Insurance	156	310
	Rates	1,620	1,864
	Repairs & Maintenance	121	-
	11,193	10,339

	Total Rental Profit	18,907	26,061

The accompanying notes form part of these financial statements.
These financial statements have not been subject to audit or review and should 
be read in conjunction with the attached Compilation Report.
	- 3 -

	The Gilmore Investment Unit Trust
	Profit and Loss Statement
	For the Year ended 30 June 2021

	2021	2020
	$	$

	Income
	Capital Gain(Loss) on Sale of Non-current Assets	881,262	-
	Profit on Rental Operations	18,907	26,061

	900,169	26,061

	Expenditure
	Accountancy Fees	2,750	-
	Filing Fees	273	267
	3,023	267

	Profit before Income Tax	897,146	25,794

The accompanying notes form part of these financial statements.
These financial statements have not been subject to audit or review and should be read in 
conjunction with the attached Compilation Report.
	- 4 -

	The Gilmore Investment Unit Trust
	Statement of Appropriations
	For the Year ended 30 June 2021

	2021	2020
	$	$
	Profit before Income Tax	897,146	25,794

	Profit Available for Appropriation	897,146	25,794

	Distribution to Beneficiaries
	THE GILMORE SUPERANNUATION FUND	897,146	25,794

	897,146	25,794

The accompanying notes form part of these financial statements.
These financial statements have not been subject to audit or review and should be read in 
conjunction with the attached Compilation Report.
	- 5 -

	The Gilmore Investment Unit Trust
	Notes to the Financial Statements
	For the Year ended 30th June 2021

The financial statements cover The Gilmore Investment Unit Trust and have been prepared in 
accordance with the Trust deed to meet the needs of stakeholders and to assist in the preparation of 
the tax return.

	Comparatives are consistent with prior years, unless otherwise stated.

	1.	Basis of Preparation
The Trust is non-reporting since there are unlikely to be any users who would rely on the 
general purpose financial statements.

The special purpose financial statements have been prepared in accordance with the significant 
accounting policies described below and do not comply with any Australian Accounting 
Standards unless otherwise stated.

The financial statements have been prepared on an accruals basis and are based on historical 
costs modified, where applicable, by the measurement at fair value of selected non-current 
assets, financial assets and financial liabilities.

Significant accounting policies adopted in the preparation of these financial statements are 
presented below and are consistent with prior reporting periods unless otherwise stated.

	2.	Summary of Significant Accounting Policies

	(a)	Property, Plant and Equipment
Property, plant and equipment are carried at cost, or at valuation. All assets, excluding freehold 
land and buildings held for investment, are depreciated over their useful lives to the trust.

The carrying value of plant and equipment is reviewed annually by trustees to ensure it is not in
 excess of the recoverable amount. The recoverable amount is assessed on the basis of the 
expected net cash flows that will be received from the asset’s employment and subsequent 
disposal. The expected net cash flows have not been discounted in determining recoverable 
amounts.

	(b)	Investment Property
Investment property is carried at fair value, determined annually by independent valuers. 
Changes to fair value are recorded in the income statement as other income/expenses.

	These notes should be read in conjunction with the attached Compilation Report.
	- 6 -

	The Gilmore Investment Unit Trust
	Notes to the Financial Statements
	For the Year ended 30th June 2021

	2021	2020
	$	$

	3.	Property, Plant and Equipment

	Land and Buildings
	75/1 Foy Street, Balmain
	75/1 Foy Street, Balmain	-	324,322
	Less Accumulated Depreciation	-	113,087
	-	211,235

	4.	Intangible Assets

	Non-Current
	Formation Expenses	1,115	1,115

	Total Intangible Assets	1,115	1,115

	5.	Unpaid Trust Distributions

	Current Assets
	THE GILMORE SUPERANNUATION FUND	-	319
	-	319

	Current Liabilities
	THE GILMORE SUPERANNUATION FUND	1,115	-
	1,115	-

	6.	Trust Funds

	Units Issued - The Gilmore Superannuation Fund	-	212,669
	Profit Earned This Year	897,146	25,794
	Less Distribution to Beneficiaries	897,146	25,794
	Total Trust Funds	-	212,669

	7.	Statutory Information

The principal place of business is:
The Gilmore Investment Unit Trust
Suite 407, 3 Waverley Street, Bondi Junction, NSW, 2022

The principal activities of the business include:
Investment

	These notes should be read in conjunction with the attached Compilation Report.
	- 7 -

	The Gilmore Investment Unit Trust
	Directors' Declaration of the Trustee Company
	for the Year Ended 30 June 2021

The directors of the trustee company have determined that the trust is not a reporting entity and that
 this special purpose financial report should be prepared in accordance with the accounting policies
 outlined in Note 2 to the financial statements.

	The directors of the trustee company declare that:

1.   The financial statements and notes, as set out in the financial statements, present fairly
      the trust’s financial position as at 30 June 2021 and its performance for the year 
      ended on that date in accordance with the accounting policies described in Note 2
      to the financial statements;

2.   In the directors’ opinion, there are reasonable grounds to believe that the trust
      will be able to pay its debts as and when they become due and payable.

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

Eli Gilmore                             
Director

Dorit Gilmore
Director

	Dated this................day of....................................2021 

	- 8 -

	The Gilmore Investment Unit Trust
	Compilation Report To The Gilmore Investment Unit Trust

We have compiled the accompanying special purpose financial statements of The Gilmore 
Investment Unit Trust, which comprise the balance sheet as at 30 June 2021, and the income 
statement for the year then ended, a summary of significant accounting policies and other 
explanatory notes. The specific purpose for which the special purpose financial statements have 
been prepared is to provide information relating to the performance and financial position of the 
trust that satisfies the information needs of the directors of the trustee company and of the 
beneficiaries.

	The Responsibility of the Trustees
The Trustees of The Gilmore Investment Unit Trust are solely responsible are solely responsible 
for the information contained in the special purpose financial statements, the reliability, accuracy 
and completeness of the information and for the determination that the basis of accounting used is 
appropriate to meet their needs and for the purpose that the financial statements were prepared.

	Our Responsibility
On the basis of information provided by the Trustees, we have compiled the accompanying special 
purpose financial statements in accordance with the significant accounting policies adopted as
 set out in Note 1 to the financial statements and APES 315: Compilation of Financial 
Information.
We have applied professional expertise in accounting and financial reporting to compile these 
financial statements on the basis of accounting described in the notes to the financial 
statements. We have complied with the relevant ethical requirements of APES 110 Code of 
Ethics for Professional Accountants.

	Assurance Disclaimer
Since a compilation engagement is not an assurance engagement, we are not required to verify the 
reliability, accuracy or completeness of the information provided to us by management to 
compile these financial statements. Accordingly, we do not express an audit opinion or a 
review conclusion on these financial statements. 
The special purpose financial statements were compiled for the benefit of the trustee who is 
responsible for the reliability, accuracy and completeness of the information used to compile 
them. We do not accept responsibility for the contents of the special purpose financial 
statements.

	PARRELLI & CO.
	CHARTERED ACCOUNTANT
	Suite 407, 3 Waverley Street, Bondi Junction, NSW, 2022

	VINCE PARRELLI

	- 9 -

	The Gilmore Investment Unit Trust

	Annual Report
	for the Year Ended 30 June 2021

	Contents	Page

	Balance Sheet	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	2

	Rental Income Statement	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	3

	Profit & Loss Statement	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	4

	Appropriations Statement	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	5

	Notes to the Accounts	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	6

	Directors' Declaration	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	8

	Compilation Report	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	.	9