BUSHkids Annual Report 2019-20

TOPIC SECTION 71 ANNUAL REPORT 2019–2020 FINANCIALS N TES TO THE FINANCIAL STATEMENTS – NOTES 11 – 15 ROYAL QUEENSLAND BUSH CHILDREN'S HEALTH SCHEME ABN 43 824 927 762 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020 2020 2019 $ $ 11 - TRADE AND OTHER PAYABLES Trade payables 272,419 149,310 BAS payable 202,204 221,339 Other payables 58,172 87,657 532,795 458,306 12 - CONTRACT LIABILITIES Contract liabilities 343,141 1,668,951 Unsatisfied performance obligations The aggregate amount allocated to unsatisfied performance obligations pursuant to grant and other contracts at the end of the reporting period was $343,141 as at 30 June 2020 ($1,668,951 as at 30 June 2019). This is expected to be recognised as revenue in future periods as follows: 2020 2019 $ $ Within 6 months 336,388 1,572,761 6 to 12 months 6,753 96,190 343,141 1,668,951 13 - EMPLOYEE REMUNERATION 13.1 Employee benefits expense Wages 7,609,611 7,136,342 Workcover 60,982 77,100 Superannuation 712,758 631,138 Employee benefit provisions 92,639 90,973 Staff recruitment 23,018 23,305 Staff training 126,224 119,492 Other staff expenses 35,021 39,038 Fringe benefits tax 6,342 5,088 8,666,595 8,122,476 13.2 Employee benefits Current Provision for Annual Leave 352,894 275,559 Provision for Long Service Leave 88,510 83,110 441,404 358,669 Non-current Provision for Long Service Leave 20,854 10,950 14 - OTHER LIABILITES Lease liabilities 617,183 0 15 - ASSET REVALUATION RESERVE Balance at 1 July 2019 1,790,768 1,546,427 Other comprehensive income for the year: Revaluation of land 0 235,000 Financial assets: - current year gains (losses) (1,096,935) 386,027 - reclassification to profit or loss for financial assets sold during year (255,746) (376,686) Balance as at June 2020 438,087 1,790,768

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