b'NOTES TO THE FINANCIAL STATEMENTSFOR THE yEAR ENDED 30 JUNE 201920192018 20192018$$ $$NOTE 11:TRADE AND OTHER PAyABLES NOTE 15: RELATED PARTy TRANSACTIONS (continued)Current No.No.Trade payables99,601211,153 The number of directors whose income fromSundry payables and accrued expenses 213,501 193,861 the Club fell within the following bands:313,102405,014 $0 - $10,00088Current $10,001 - $20,00011Financial liabilities at amortised cost classified as NOTE 16:KEy MANAGEMENT PERSONNEL COMPENSATIONtrade and other payables: Any person(s) having authority and responsibility for planning, directing Trade and other payables and controlling the activities of the entity, directly or indirectly, including any - Total current313,102405,014 director (whether executive or otherwise) of that entity, is considered key - Total non-current management personnel (KMP).Financial liabilities as trade and other payables313,102 405,014 The totals of remuneration paid to KMP of the Club during the year are as follows:Credit standby arrangements with banks 20192018Credit facility $$Amount utilised at balance date- - KMP compensation 250,823 244,362Unused credit facility- - No.No.KMP compensation1010NOTE 12:TAX There were no other related party transactions during the year other than Liabilities as disclosed in Note 23. Transactions between related parties are on normal Current commercial terms and conditions no more favourable than those available Income tax payable - 102,458 to other parties unless otherwise stated.Assets NOTE 17:RESERVESDeferred tax assets comprise:(a) Capital ReserveProvisions and accruals43,28344,341 The capital reserve records profits on sale of non-current assets.Property, plant & equipmenttax allowances39,37214,591 (b) Asset Revaluation ReserveRevaluation adjustments taken directly to equity1,271 5,033 The revaluation reserve records revaluations of non-current assets.Capital losses carried forward 1,066 1,13384,99265,098 (c) Financial Assets ReserveNet Deferred Tax Assets The financial assets reserve records revaluation of financial assets.Current77,06753,233 NOTE 18:CAPITAL AND LEASING COMMITMENTSNon-current7,92511,865 (a) Finance lease commitments84,99265,098 There are no commitments (2018nil).NOTE 13:EMPLOyEE BENEFITS LIABILITIES (b) Operating lease commitments Current There are no commitments (2018nil).Employee entitlements (c)Capital expenditure commitmentsAnnual leave147,866142,139 Capital expenditure commitments contracted for at the reporting date Long service leave77,25072,414 amounted to nil (2018$62,500).225,116214,553 NOTE 19:FINANCIAL RISK MANAGEMENT The Clubs financial instruments consist primarily of deposits with banks, Non-Currentlocalmoneymarketinstruments,short-terminvestments,accounts Employee entitlements receivable and payable, listed securities and leases.Long service leave 30,85829,967 Totals for each category of financial instruments, measured in accordance A provision has been recognised for employee benefits relating to long servicewith AASB 139 as detailed in the accounting policies to these financial leave for employees.In calculating the present value of future cash flows instatements, are as follows:respect of long service leave, the probability of long service leave being taken20192018$$is based upon the historical data.The measurement and recognition criteriaFinancial Assets at Amortised Costfor employee benefits have been included in Note 1(f). Cash and cash equivalents254,274514,68920192018 Loans and receivables3,527,6413,702,441$$ Investments in equity instruments at fair NOTE 14:OTHER LIABILITIES value through OCI:Current - Listed investments 434,273452,072Subscriptions received in advance36,21738,277 Total Financial Assets4,216,1884,669,202Advance booking deposits67,90898,831Security deposits held relating to leased premises4,2924,292 Financial LiabilitiesDeferred income 4,018 3,827 Financial liabilities at amortised cost 112,435 145,227 - Trade and other payables 313,102405,014NOTE 15:RELATED PARTy TRANSACTIONS Total Financial Liabilities 313,102405,014The following benefits were provided to directors and their NOTE 20:MEMBERS GUARANTEEguests under the terms of the Clubs constitution: The Club is a company limited by guarantee, incorporated and domiciled in Meetingsfood and beverages11,66012,249 Australia.If the Club is wound up, the Memorandum of Association states Accommodation and travelling that each Member is required to contribute a maximum of $4 each towards Presidents dinner8,4909,353 meeting any outstanding obligations of the Club.At the reporting date the Board members partners night6563,914 number of Members was 1,568 (20181,651).Professional development6031,950 In any case, where a Member has been in breach of paragraph 4 of the Food and beverage allowance - directors16,06313,355 Clubs constitution, entitled Memorandum of Association, the liability of a Directors fees paid or payable to allMember on winding up is unlimited.Please refer to Liability of Members on directors of the Club55,00055,000 a Winding Up as set out in the Directors Report.October 2019 NSW Masonic Club21'