b'sTaTemeNT oF FiNaNCiaL posiTioN sTaTemeNT oF Cash FLoWsAS AT 30 JUNE 2021 FOR THE yEAR ENDED 30 JUNE 2021Note20212020 Note20212020$$ $$CURRENT ASSETSCASH FLOWS FROM OPERATING ACTIVITIES Cash and cash equivalents5247,689363,044 Receipts from Members and guests1,670,6163,860,600Payments to suppliers and employees(2,359,762) (3,821,153)Trade and other receivables648,063160,375 Rent received46,29749,672Financial assets71,700,0002,600,000 Dividends received18,69619,512Inventories 812,56818,141 Interest received35,03265,664Income tax refunds - 29,840Other assets997,015 56,894 Net cash provided by/(used in) operating TOTAL CURRENT ASSETS2,105,3353,198,454activities (589,121) 204,135NON-CURRENT ASSETSCASH FLOWS FROM INVESTING ACTIVITIESFinancial assets7597,448454,513 Proceeds from sale of property, plant and equipment-3,909Property, plant and equipment1038,377,134 38,509,989 Payments for property, plant and equipment(422,752)(856,570)Proceeds from sale of investments9,5892,641Deferred tax assets12 105,700 104,138 Payments for investments in listed securities(13,071)(45,345)TOTAL NON-CURRENT ASSETS39,080,28239,068,640 Funds withdrawn from term deposits 900,000 800,000TOTAL ASSETS 41,185,61742,267,094 Net cash provided by/(used in) investing activities 473,766 (95,365)CURRENT LIABILITIESCASH FLOWS FROM FINANCING ACTIVITIES Trade and other payables11183,551267,955 Net cash provided by/(used in) financing Employee benefits liabilities13204,897179,831activities - - Other liabilities1466,099 60,747 Net (decrease)/increase in cash(115,355)108,770TOTAL CURRENT LIABILITIES454,547 508,533 Cash and cash equivalents at beginning of the financial year363,044 254,274NON-CURRENT LIABILITIESCash and cash equivalents at end of theEmployee benefits liabilities1356,190 47,424financial year5247,689 363,044TOTAL NON-CURRENT LIABILITIES56,190 47,424TOTAL LIABILITIES510,737 555,957NET ASSETS40,674,88041,711,137 NoTes To The FiNaNCiaL sTaTemeNTsMEMBERS EqUITyFOR THE yEAR ENDED 30 JUNE 2021Reserves35,690,419 35,583,337 The financial statements cover the New South Wales Masonic Club (the Retained earnings 4,984,4616,127,800Club) as an individual entity, incorporated and domiciled in Australia. The Club is a company limited by guarantee.TOTAL MEMBERS EqUITy40,674,88041,711,137 The financial statements were authorised for issue on 6 October 2021 by the directors of the Club.NOTE 1:SUMMARy OF SIGNIFICANT ACCOUNTING POLICIESBasis of PreparationTheClubhasadoptedallneworamendedAccountingStandardsand sTaTemeNT oF ChaNGes iN eQUiTy Interpretations issued by the Australian Accounting Standards Board (AASB) FOR THE yEAR ENDED 30 JUNE 2021 that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted, except as noted below. The following Accounting RetainedCapital AssetFinancialTotal Standards and Interpretations are most relevant to the Club:Earnings Reserve Revaluation AssetThe Club has early adopted the new Simplified Disclosure Standard, AASB Reserve Reserve 1060 General Purpose Financial StatementsSimplified Disclosures for For-$ $ $ $ $ Profit and Not-for-Profit Tier 2 Entities (Tier 2). Adoption of this new accounting Balance as atstandard has no impact on the financial results and has minimal impact on 30 June 2019 6,475,856 1,319,388 31,458,037 (3,350) 39,249,931 the notes to the financial statements. By early adopting under AASB 2021-Loss attributable1 Transition to Tier 2: Simplified Disclosures for Not-for-Profit Entities, there to Members (348,056) - - - (348,056) is relief from providing comparative information in the notes where a new disclosure is required.Transfers - - - - - Impact of adoptionTotal otherThe adoption of new Accounting Standards and Interpretations did not have comprehensiveany significant impact on the financial performance or position of the Company income for the year - - 2,825,456 (16,194) 2,809,262 as at 30 June 2021 nor on opening retained profits as at 1 July 2020.Balance as atGoing Concern30 June 2020 6,127,800 1,319,388 34,283,493 (19,544) 41,711,137 The financial statements have been prepared on a going concern basis, Loss attributablewhichcontemplatescontinuityofnormalbusinessactivitiesandthe to Members (1,143,339) - - - (1,143,339) realisation of assets and settlements of liabilities in the ordinary course of Transfers - - - - - business for a period of at least twelve months from the date these financial statements were approved.Total otherAs at 30 June 2021, the Club incurred a net loss after tax of $1,143,339 (2020: comprehensivenet loss of $348,056) and an operating cash outflow of $589,121 (2020: cash income for the year - - - 107,082 107,082 inflow of $204,135).Balance as atThe Club also notes the unpredictability of the COVID-19 situation, and the 30 June 2021 4,984,461 1,319,388 34,283,493 87,538 40,674,880 potential impact on the going concern basis of preparation. At the date of this report the Club has not yet reopened. Since March 2020 Covid-19 has had a October 2021 NSW Masonic Club13'