b'NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 202320232022 NOTE 16:KEY MANAGEMENT PERSONNEL COMPENSATION$$ Any person(s) having authority and responsibility for planning, directing NOTE 12:INCOME TAX and controlling the activities of the entity, directly or indirectly, including any Deferred Tax Assets comprise:director (whether executive or otherwise) of that entity, is considered key Provisions and accruals83,05666,445 management personnel (KMP).Property, plant & equipmenttax allowances49795,161 The totals of remuneration paid to KMP of the Club during the year are as follows:Revaluation adjustments taken directly to equity(2,478)(9,083) 20232022Capital losses carried forward- -Total net non-current deferred tax assets 81,075 152,523 $$KMP compensation 248,462 152,202NOTE 13:EMPLOYEE BENEFITSCurrent There were no other related party transactions during the year other than Employee entitlements as disclosed in Note 22. Transactions between related parties are on normal Annual leave210,959189,892 commercial terms and conditions no more favourable than those available Long service leave 122,361 84,232 to other parties unless otherwise stated. 333,320274,124 NOTE 17:RESERVESNon-Current (a) Capital ReserveEmployee entitlements The capital reserve records profits on sale of non-current assets.Long service leave 85,445 66,036 (b) Asset Revaluation ReserveA provision has been recognised for employee benefits relating to long serviceThe revaluation reserve records revaluations of non-current assets.leave for employees. In calculating the present value of future cash flows in(c) Financial Assets Reserverespect of long service leave, the probability of long service leave being takenThe financial assets reserve records revaluation of financial assets.is based upon the historical data.The measurement and recognition criteria for employee benefits have been included in Note 1(f).NOTE 18:CAPITAL AND LEASING COMMITMENTS20232022 Capital expenditure commitments$$ Capitalexpenditureandleasingcommitmentscontractedforatthe NOTE 14:OTHER LIABILITIES reporting date amounted to $nil (2022 $nil).CurrentSubscriptions received in advance107,84697,378 NOTE 19:CONTINGENT ASSETS AND CONTINGENT LIABILITIES Advance booking deposits89,47439,994 There are no contingent assets or liabilities.Deferred income24,430- NOTE 20: MEMBERS GUARANTEESecurity deposits held relating to leased premises -6,673 221,750 144,045 The Club is a company limited by guarantee, incorporated and domiciled in Australia.If the Club is wound up, the Memorandum of Association states NOTE 15:RELATED PARTY TRANSACTIONS that each Member is required to contribute a maximum of $4 each towards The following benefits were provided to directors and their guests undermeeting any outstanding obligations of the Club.At the reporting date the the terms of theresolutions passed at the 2022 Annual General Meeting: number of Members was 1,779 (20221,321).20232022 In any case, where a Member has been in breach of paragraph 4 of the $$ Clubs constitution, entitled Memorandum of Association, the liability of a Meetingsfood and beverages9,4186,042 Member on winding up is unlimited.Please refer to Liability of Members Professional development24750 on a Winding Up as set out in the Directors Report.Food and beverage allowance - directors10,0295,017 NOTE 21:EVENTS AFTER THE REPORTING PERIODDirectors fees paid or payable to all directors of the Club47,500 38,292 No matters or circumstances have arisen since the end of the financial No.No. year which significantly affected or may affect the operations of the Club, The number of directors whose income from the result of those operations, or the state of affairs of the Club in future the Club fell within the following bands: financial years.$0 - $10,00067$10,001 - $20,0001-Trinity Jewellers & CoPerfect. for every occasionOffering made to order, restoration, remodelling, repair and polishing.A collection of gemstones is also available for customers to create their own unique piece.15% DISCOUNTFOR CLUB MEMBERS & GUESTS169A CASTLEREAGH STREET 2000 PHONE: 0423 385 753October 2023 NSW Masonic Club17'