b'STATEMENT OF FINANCIAL POSITION STATEMENT OF CASH FLOWSAS AT 30 JUNE 2023 FOR THE YEAR ENDED 30 JUNE 2023Note20232022 Note20232022$$ $$CURRENT ASSETSCASH FLOWS FROM OPERATING ACTIVITIES Cash and cash equivalents51,217,2201,165,656 Receipts from members, guests & customers6,603,9453,176,105Trade and other receivables6162,927127,923 Payments to suppliers & employees(5,129,319) (2,875,532)Rent received199,70663,979Financial assets71,500,000700,000 Dividends received30,14521,943Inventories 814,60322,728 Interest received24,5029,146Other assets955,888 92,235 Income tax refund received 47,047 -TOTAL CURRENT ASSETS2,950,6382,108,542 Net cash provided by operating activities1,776,026395,641NON-CURRENT ASSETSCASH FLOWS FROM INVESTING ACTIVITIESPayments for property, plant and equipment10(834,375)(485,929)Financial assets7649,046558,919 Proceeds from sale of investments55,355157,649Property, plant and equipment1040,526,691 38,542,082 Payments for investments in listed securities(145,442)(149,394)Deferred tax assets1281,075 152,523 Funds (invested in)/withdrawn from term deposits (800,000)1,000,000TOTAL NON-CURRENT ASSETS41,256,81239,253,524 Net cash (used in)/provided by investing activities (1,724,462) 522,326TOTAL ASSETS 44,207,45041,362,066 CASH FLOWS FROM FINANCING ACTIVITIES Net cash provided by/(used in) financing CURRENT LIABILITIES activities - - Trade and other payables11521,760388,787 Net increase in cash51,564917,967Employee benefits13333,320274,124 Cash and cash equivalents at beginning of the financial year1,165,656 247,689Other liabilities14221,750144,045 Cash and cash equivalents at end of theTOTAL CURRENT LIABILITIES 1,076,830 806,956financial year5 1,217,2201,165,656NON-CURRENT LIABILITIES Employee benefits1385,445 66,036 NOTES TO THE FINANCIAL STATEMENTSTOTAL NON-CURRENT LIABILITIES85,445 66,036 FOR THE YEAR ENDED 30 JUNE 2023TOTAL LIABILITIES 1,162,275 872,992NET ASSETS43,045,17540,489,074 The financial statements cover the New South Wales Masonic Club (the Club) as an individual entity, incorporated and domiciled in Australia. The MEMBERS EQUITYClub is a company limited by guarantee.Reserves1737,130,350 35,630,132 The financial statements were authorised for issue on 4 October 2023 by Retained earnings5,914,8254,858,942 the directors of the Club.NOTE 1:SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESTOTAL MEMBERS EQUITY43,045,17540,489,074 Basis of PreparationThese general purpose financial statements have been prepared in accordance withtheCorporationsAct2001andAustralianAccountingStandards SimplifiedDisclosuresandInterpretationsoftheAustralianAccounting Standards Board. The Club is a not-for-profit entity for financial reporting STATEMENT OF CHANGES IN EQUITY purposes under Australian Accounting Standards. Material accounting policies adopted in the preparation of these financial statements are presented below FOR THE YEAR ENDED 30 JUNE 2023 and have been consistently applied unless stated otherwise.The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based on historical costs, modified, RetainedCapital AssetFinancialTotal where applicable, by the measurement at fair value of selected non-current Earnings Reserve Revaluation Assetassets, financial assets and financial liabilities. The amounts in the financial Reserve Reserve statements have been rounded to the nearest dollar.$ $ $ $ $ New or amended Accounting Standards and Interpretations adoptedBalance as atTheClubhasadoptedallneworamendedAccountingStandardsand 30 June 2021 4,984,461 1,319,388 34,283,493 87,538 40,674,880 Interpretations issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting period. Any new or amended Loss attributableAccounting Standards or Interpretations that are not yet mandatory have not to Members (125,519) - - - (125,519) been early adopted. The following Accounting Standards and Interpretations Total otherare most relevant to the Club:comprehensiveAccounting Policiesincome for the year - - - (60,287) (60,287) (a) Income TaxBalance as atThe income tax expense/(benefit) for the year comprises current income tax 30 June 2022 4,858,942 1,319,388 34,283,493 27,251 40,489,074 expense/ (benefit) and deferred tax expense/(benefit).Current income tax expense charged to the profit or loss is the tax payable Profit attributableon taxable income calculated using applicable income tax rates enacted, to Members 1,055,883 - - - 1,055,883 or substantially enacted, as at the end of the reporting period.Current tax Total otherliabilities/(assets) are therefore measured at the amounts expected to be comprehensivepaid to/(recovered from) the relevant taxation authority.income for the year - - 1,520,035 (19,817) 1,500,218 Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability balances during the year as well as unused tax losses. Balance as atCurrent and deferred income tax expense/(income) is charged or credited 30 June 2023 5,914,825 1,319,388 35,803,528 7,434 43,045,175 outside the profit and loss when the tax relates to items that are recognised outside the profit and loss.October 2023 NSW Masonic Club13'