b'Review of Operations (continued)of at least twelve months from the date thesecomprising 509 Mason Members, 855 Associate ongoing financial impact of Covid-19 including: financial statements were approved. Members,4GoldMembers,1Patronand20 Suspending most capital expenditure programs; The Club also notes the unpredictability of theHonorary Members.Suspending payment of Directors fees from 31COVID-19 situation, and the potential impact onCore PropertyJuly 2020 to 30 November 2020, and again fromthe going concern basis of preparation. At theThe Core Property of the Club as at 30 June 2021 1 September 2021; date of this report the Club has not yet reopened.was the property known as 169-173 Castlereagh CurtailingtheClubsbuildingmaintenanceSince March 2020 Covid-19 has had a significantStreet, Sydney.program, and impact on the Clubs operating cash flows andAs at that date there was no Non-Core Property Reducing operating expenses to the extentfinancial position. Due to the uncertainty aroundof the Club.possible. the ongoing impacts of COVID and any potentialAuditors Independence DeclarationAfter Balance Date Events future increases in restrictions, there is a degreeTheauditorsindependencedeclarationforthe ofuncertaintyassociatedwithforecasting Transport for NSWs construction of the Sydneycash flows over the following 12 month period.year ended 30 June 2021 has been received and MetrostationtotheimmediatesouthoftheTherefore, existing cash flow forecasts are basedcan be found below.Clubs building continues, with the project now inon minimal cash inflows and known cash outflowsSignedinaccordancewitharesolutionofthe the construction stage of the Metro train station.to enable the Board to determine the maximumBoard of Directors:To this date there has been minimal effect onmonthly cash flow loss.the Clubs building and its operations resultingThe directors believe there are reasonable grounds fromtheMetroconstructionworks.However,to conclude the company will continue as a going the future effect of such construction works onconcern on the basis of the following: theClubsbuildingandoperationscannotbeThe Club maintains significant balances of termStephen G Batesdetermined at this stage. deposit cash and liquid equity investments on(President)The Club is progressing its obligations under thewhich to draw, to fund expected shortfalls inDated: 6th day of October 2021Sydney City Council (SCC) issued Fire Safetycash flow for a period of over 24 months from Order, supported by our fire safety engineers andsigning of the financial report; andheritage consultants to develop a timeline andThe Club holds no external debt, and as such is engineered solution that preserves the heritagenot subject to servicing any significant externalaUDiTors iNDepeNDeNCe characteroftheClubsbuilding.Substantialliabilities.DeCLaraTioN capital expenditure is likely to be incurred onceLiability of Members on a Winding Up UNDER SECTION 307C OF THE funds permit. For every class of membership the amount forCORPORATIONS ACT 2001 On25June2021,theGovernmentannouncedwhich every Member is liable to contribute if theTO THE DIRECTORS OFforcedclosureofregisteredandlicensedClub is wound up is: NEW SOUTH WALES MASONIC CLUBclubs,licensedpremisesinhotelsandpubs,(i)Such amount as may be required not entertainment venues and cinemas, casinos andexceeding $4.00;nightclubs effective from 5 pm 25 June 2021 until(ii)In the event that the liability of any MemberI declare that, to the best of my knowledge and 11 October 2021. As such, the Club was closed forof any class becomes unlimited, then suchbelief, during the year ended 30 June 2021, there all food, beverage and function activities for thisother amount as may be required accordinghave been:period. Prior to the date of this report, the NSWto the circumstances in which that event(i)no contraventions of the auditor Governmenthadannouncedthatallclubscanoccurred.Any Members liability becomesindependence requirements as set out in the re-open around mid-October, but most likely underunlimited if that Member makes (or knowinglyCorporations Act 2001 in relation to the audit; restrictedconditionssuchassocialdistancing.consents to or assists in the making of) anandSuch rules are changing day to day. The financialunauthorised payment or transfer of any part(ii)no contraventions of any applicable code of impact of these rules cannot be predicted. of the income or property of the Club to anyprofessional conduct in relation to the audit.No other matters or circumstances have arisenMember or former Member of the Club or to sincetheendofthefinancialyearwhichany person claiming through them.significantly affected or may affect the operationsThe Club is governed under the Corporations Act of the Club, the result of those operations, or the2001 and is a company limited by guarantee. IfBDO Audit Pty Ltdstate of affairs of the Club in future financial years. the Club is wound up the total amount payable byClayton EveleighGoing Concern all Members of every class will, except in any caseDirectorThefinancialstatementshavebeenpreparedof unlimited liability, be not more than an amount onagoingconcernbasis,whichcontemplatesequal to the number of Members of every classDate: 6th day of October 2021continuity of normal business activities and themultiplied by $4.00. Level 11realisation of assets and settlements of liabilitiesMembership 1 Margaret Streetin the ordinary course of business for a periodAt 30 June 2021 total Members numbered 1,389SYDNEY NSW 2000 sTaTemeNT oF proFiT or Loss sTaTemeNT oF oTher CompreheNsive iNComeFOR THE yEAR ENDED 30 JUNE 2021 FOR THE yEAR ENDED 30 JUNE 2021Note20212020 Note20212020$$ $$Revenue21,360,0333,475,547 Loss for the year (1,143,339)(348,056)Loss on disposal of assets2(3,675)(170,166) Other comprehensive income (OCI) after income tax:Raw materials and consumables used(213,116)(338,145) Items that will not be reclassified Employment benefits expense(1,501,836) (1,837,039) subsequently to profit or loss:Australian government jobkeeper subsidy509,850227,100 Net gain on revaluation of non-current Depreciation of property, plant and equipment 3(555,608)(523,740) assets, net of tax10-2,825,456Occupancy expense(584,732)(778,907) Net gain/(loss) on revaluation of financialImpairment of trade receivables-(5,155) assets at fair value through OCI, net of tax2 107,082 (16,194)Other expenses (238,910) (411,102) Other comprehensive income for the year, net of tax 107,0822,809,262Loss before income tax expense(1,227,994)(361,607) Total comprehensive income for the year(1,036,257) 2,461,206Income tax benefit484,655 13,551 Total comprehensive income attributable to:Members of the Club (1,036,257) 2,461,206Loss for the year (1,143,339)(348,056)12NSW Masonic Club October 2021'