b'issued the Club with a Fire Safety Order andIf the Club is wound up the total amount payable we have been actively working with the SCC,by all Members of every class will, except in any supportedbyourfiresafetyengineersandcase of unlimited liability, be not more than anAUDITORS INDEPENDENCE heritage consultants to develop a timeline andamountequaltothenumberofMembersofDECLARATION engineered solution that preserves the heritageevery class multiplied by $4.00. UNDER SECTION 307C OF THE characteroftheClubsbuilding.SubstantialMembership CORPORATIONS ACT 2001 capitalexpenditurewillbeincurredovertheAt 30 June 2019 total Members numbered 1,568TO THE DIRECTORS OFcoming three years as part of this process. comprising 583 Mason Members, 956 AssociateNEW SOUTH WALES MASONIC CLUBNo other matters or circumstances have arisenMembers,6GoldMembers,1Patronand22 sincetheendofthefinancialyearwhichHonorary Members.significantly affected or may affect the operationsCore Property I declare that, to the best of my knowledge and of the Club, the result of those operations, or theThe Core Property of the Club as at 30 Junebelief, during the year ended 30 June 2019, there state of affairs of the Club in future financial years. 2019wasthepropertyknownas169-173have been:Liability of Members on a Winding Up Castlereagh Street, Sydney. (i)no contraventions of the auditor For every class of membership the amount forAs at that date the Non-Core Property of theindependence requirements as set out in which every Member is liable to contribute if theClub was nil. the Corporations Act 2001 in relation to the Club is wound up is: audit; and(i)Such amount as may be required notAuditors Independence Declaration (ii)no contraventions of any applicable code of exceeding $4.00; The auditors independence declaration for theprofessional conduct in relation to the audit.(ii)In the event that the liability of any Memberyear ended 30 June 2019 has been received and of any class becomes unlimited, thencan be found adjacent.such other amount as may be requiredSigned in accordance with a resolution of the according to the circumstances in whichBoard of Directors:that event occurred.Any Members liabilityMEAGHER, HOWARD & WRIGHTbecomes unlimited if that Member makesKen Wright(or knowingly consents to or assists in the making of) an unauthorised paymentStephen G Bates Date: 2nd day of October 2019or transfer of any part of the income or(President) Suite 505, Level 5property of the Club to any Member orDated: 2nd day of October 2019 55 Grafton Stformer Member of the Club or to any personBONDI JUNCTION NSW 2022claiming through them.PROFIT AND LOSS ACCOUNT STATEMENT OF FINANCIAL POSITIONFOR THE yEAR ENDED 30 JUNE 2019 AS AT 30 JUNE 2019Note20192018 Note20192018$$ $$Revenue24,576,4975,102,038 CURRENT ASSETS Other income2243(3,372) Cash and cash equivalents5254,274514,689Raw materials and consumables used(407,571)(466,372) Trade and other receivables6127,641102,441Employment benefits expense(1,879,404) (1,935,359) Financial assets73,400,0003,600,000Depreciation of property, plant and equipment 3(523,220)(494,397) Inventories 825,77337,218Occupancy expense(1,206,660) (1,014,374) Other assets979,38594,731Deferred tax assets12 77,067 53,233Other expenses (485,420) (504,380) TOTAL CURRENT ASSETS3,964,1404,402,312Profit before income tax expense74,465683,784 NON-CURRENT ASSETS Income tax expense4 (23,391) (146,644) Financial assets7434,273452,072Profit for the year51,074537,140 Property, plant and equipment1035,525,104 35,219,908Deferred tax assets127,925 11,865TOTAL NON-CURRENT ASSETS35,967,30235,683,845STATEMENT OF OTHERTOTAL ASSETS39,931,442 40,086,157COMPREHENSIVE INCOME CURRENT LIABILITIES FOR THE yEAR ENDED 30 JUNE 2019 Trade and other payables11313,102405,014Income tax payable12-102,458Note20192018 Employee benefits liabilities13225,116214,553$$ Other liabilities14112,435 145,227Profit for the year 51,074 537,140 TOTAL CURRENT LIABILITIES650,653 867,252Other comprehensive income (OCI) after income tax: NON-CURRENT LIABILITIES Items that will not be reclassifiedEmployee benefits liabilities1330,858 29,967subsequently to profit or loss: TOTAL NON-CURRENT LIABILITIES30,858 29,967Net gain on revaluation of non-currentTOTAL LIABILITIES681,511 897,219assets, net of tax10 NET ASSETS39,249,93139,188,938Net gain on revaluation of financial assetsat fair value through OCI, net of tax2 9,9198,480 MEMBERS EQUITy Other comprehensive incomeReserves32,774,075 32,764,156for the year, net of tax 9,9198,480 Retained earnings 6,475,8566,424,782Total comprehensive income for the year60,993 545,620 TOTAL MEMBERS EQUITy39,249,93139,188,938Total comprehensive income attributable to:Members of the Club 60,993 545,62016NSW Masonic Club October 2019'