b'NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTSFOR THE yEAR ENDED 30 JUNE 2019 FOR THE yEAR ENDED 30 JUNE 2019 NOTE 21:EVENTS AFTER THE REPORTING PERIOD TrainingTransportforNSWsconstructionoftheSydneyMetrostationtotheThe Board of Directors has met its governance obligations under Part 6 of immediate south of the Clubs building continues, with the project now inthe Registered Clubs Regulations 2015. The following directors and General the tunnelling phase. To this date there has been minimal effect on theManager (Club Secretary) have completed the required training, as prescribed:Clubs operations resulting from the Metro construction works. However, theRobert EagleshamDirectorfuture effect of such construction works on the Clubs operations cannot beKate FootDirectordetermined at this stage. No other matters or circumstances have arisenPaul BraschGeneral Managersince the end of the financial year which significantly affected or may affect the operations of the Club, the result of those operations, or the state of affairs of the Club in future financial years.The Sydney City Council (SCC) has recently issued the Club with a Fire Safety Order and we have been actively working with the SCC, supportedDIRECTORS DECLARATIONby our fire safety engineers and heritage consultants to develop a timeline and engineered solution that preserves the heritage character of the Clubs building. Substantial capital expenditure will be incurred over the comingThedirectorsoftheNewSouthWalesMasonicClub(theCompany) three years as part of this process. declare that:No other matters or circumstances have arisen since the end of the financial year1.The financial statements and notes are in accordance with the which significantly affected or may affect the operations of the Club, the resultCorporations Act 2001 and:of those operations, or the state of affairs of the Club in future financial years. (a) comply with Australian Accounting Standards Reduced Disclosure NOTE 22:CONTINGENT ASSETS AND CONTINGENT LIABILITIES Requirements applicable to the Company; andThere are no contingent assets or liabilities. (b) give a true and fair view of the financial position as at 30 June 2019 NOTE 23:SPECIAL REPORTING REQUIREMENTSand performance for the year ended on that date of the Company,The Registered Clubs Act (as amended) requires the Club to make available2.in the directors opinion there are reasonable grounds to believe that to Members the following information in relation to the financial year: the Company will be able to pay its debts as and when they become (i)There were no contracts of employment with a top executivedue and payable.of the Club approved during the reporting period.This declaration is made in accordance with a resolution of the Board of (ii)Purpose and details of overseas travel by a director orDirectors. employee of the Club.Nil(iii)Total profits from gaming machines in the Club during the 12 month period ended 30 November in theSTEPHEN G BATESfinancial year to which this report relates.$9,358 (President)(iv)Amount applied by the Club to community developmentDated: 2nd day of October 2019and support during the 12 month period ended 30 November in the financial year to which this report relates.Nil(v)Loans made to employees of the Club.Nil(vi)No consultants to the Club were paid in excess of $30,000. INCOME AND EXPENDITURE ACCOUNT(vii)Total consultancy fees paid, excluding amounts disclosed aboveNil FOR THE yEAR ENDED 30 JUNE 2019(viii) There was no settlement made with a Member of the governing body or employee as a result of aNote20192018legal dispute and no associated legal fees. $$(ix)No legal fees were paid on behalf of a Member of the governing bodyIncomeor an employee. Trading profit2,210,9172,373,784(x)The Core Property of the Club as at 30 June 2019 was thePoker machine profit (excluding depreciation)2,3387,620property known as 169-173 Castlereagh Street, Sydney. Members subscriptions68,20473,036As at that date the Non-Core Property of the Club was nil. Donations600-(xi)Set out below are disclosures made by a director, top executive orRent received110,938221,950employee in relation to: Room hire114,45486,786 A material personal interest that a director has in a matter relating toInterest received89,65485,819the affairs of the Clubnil. Dividends received21,90416,242 A personal or financial interest of a director or top executive in a contractNetgain/(loss)ondisposalofinvestments243 (3,372)relating to the procurement of goods or services or any major capitalSundry income 169,969383,740works of the Club:2,789,2213,245,605 Graham Byrne$500 ExpensesPeter Zeilic$15,031 General overhead expenses1,167,7901,060,201 Any financial interest of a director or top executive in a hotel situatedAdministration expenses712,694702,478within 40 kilometres of the Clubs premisesnil. Bad debts-6,364 A gift or remuneration of $1,000 or more from an affiliated body ofAuditors remuneration: the Club or from a person or body that has entered into a contractAudit fees21,50021,500with the Clubnil. Accountancy and taxation services3,6003,100(xii)Donations made to the Clubs internal sub-clubs, other entities utilisingDonations4,1003,195the Clubs facilities and charitable institutions amounted to $4,100. Social amenities and activities52,51848,725Correction to the 2018 Financial Report: Directors and related persons benefits1537,47240,821In the last (2018) Financial Report, a statement was made that there were noDirectors fees55,00055,000disclosures or declarations made by Directors as required by the RegisteredDepreciation: Clubs Act 1976.Whilst this was technically correct at the time, due toBuilding306,000301,919an administrative error the making of a declaration by a director about aPlant and equipment217,220192,478material personal interest in a contract was overlooked and not recorded inRates and taxes 136,862 126,040the Clubs Accountability Register. This has since been rectified and recorded in the Register. The transaction was for an amount of $7,078.50 paid to 2,714,7562,561,821Director Bro Peter Zeilics company, Peter Zeilic Pty Ltd trading as DimensionProfit before income tax74,465683,7845 Design for professional architectural services. This fee was approved byIncome tax expense4(23,391)(146,644)the Board in October 2017. Profit after income tax 51,074 537,14022NSW Masonic Club October 2019'