Financial Report for the year ended 30 June 2019
Transcript of Financial Report for the year ended 30 June 2019
Shop Distributive and Allied Employees AssociationSouth Australian Branch (Federal Body)
Financial Report for the year ended 30 June 2019
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P2
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
TableofContentsIndependentAuditor'sReportReportRequiredUnderSubsection255(2A)OperatingReportCommitteeofManagementStatementOfficerDeclarationStatementStatementofComprehensiveIncomeStatementofFinancialPositionStatementofChangesinEquityStatementofCashFlowsNotestotheFinancialStatements
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OPERATINGREPORTfortheyearended30June2019Thecommitteeofmanagementpresentsitsoperatingreportonthereportingunitfortheyearended30June2019.Reviewofprincipalactivities,theresultsofthoseactivitiesandanysignificantchangesinthenatureofthoseactivitiesduringtheyearTheAssociationcontinuesitscorebusinessoforganisingworkersinordertoimprovetheirworkingconditionsandtoprovideadvocacyandrepresentationtomembersonworkplacematters.TheAssociationcompletednegotiationsandisinongoingnegotiationsfornewEnterpriseAgreementsforseveralcompaniesincludingWoolworths,BigW,HungryJack’s,KFC,BWS,CheapasChipsandBWS.AttheFairWorkCommissiontheAssociationiscontinuingitworktoimproveModernAwardsinordertosecureimprovementsformembers,butalsotodefendexistingconditions.TheAssociationiscurrentlydefendingpenaltyratesintheHairandBeautyAward.TheAssociationcontinuestocampaignonmajorissuesthatimpactourmembers,includingour‘NoOneDeservesaServe’campaignaimedatpreventingandeliminatingcustomerabuseandviolenceinthefastfoodandretailindustries,andour‘GiveusBackourBoxingDay’campaignagainsttheStateGovernment’splantoderegulateshoptradinghoursandallowpublicholidaytradinginSouthAustralia.TheAssociationcontinuestoadvanceandprotectmembers’conditionsbyparticipatinginarangeoflegislativeinquiriesandreviews.TheAssociationhascontinuedtheimportantworkofrepresentingindividualmembersinworkrelatedgrievancesorotherindividualmatters.TheAssociationhasacomprehensivetrainingprogrammeforDelegatesconductedattheUnionofficeandacrossregionalSouthAustralia,theNorthernTerritoryandBrokenHill.SignificantchangesinfinancialaffairsTherehavebeennosignificantchangesintheassociation’sfinancialaffairsduringtheyear.RightofmemberstoresignMembershavetherighttoresignasdetailedinRule5(Resignation,ClearancesandCessationofMembership)oftheSouthAustralianBranchRules.Officersormemberswhoaresuperannuationfundtrustee(s)ordirectorofacompanythatisasuperannuationfundtrusteewherebeingamemberorofficerofaregisteredorganisationisacriterionforthemholdingsuchpositionNoneNumberofmembers27,215Numberofemployees6
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SHOPDISTRIBUTIVE&ALLIEDEMPLOYEESASSOCIATION
SOUTHAUSTRALIANBRANCH
STATEMENTOFCOMPREHENSIVEINCOME
FORTHEYEARENDED30JUNE2019
Notes 2019 2018
$ $
Revenue Memberssubscriptions
821,225 850,686
Capitationfeesandotherrevenuefromanotherreportingunit 3A 0 0
Affiliationincome 3B 720,340 597,105
Levies 3C 132,890 263,579
Investmentincome 3D 25,685 19,154
Otherrevenue
8,328 15,739
Totalrevenue
1,708,469 1,746,263
Otherincome Grantsand/ordonations 3E 215 0
Netgainfromsaleofassets 3F 0 0
Revenuefromrecoveryofwagesactivity 3G 0 0
Totalotherincome
215 0
Totalincome
1,708,684 1,746,263
Expenses Employeeexpenses 4A 283,428 313,408
Capitationfeesandotherexpensestoanotherreportingunit 4B 0 0
Affiliationfees 4C 822,062 674,337
Levies 4D 150,636 296,460
Administrationexpenses 4E 95,329 81,703
Grantsordonations 4F 74,864 1,113
Depreciationandamortisation 4G 0 0
Legalcosts 4H 0 2,000
Auditfees 14 6,000 6,000
Otherexpenses 4J 69,575 64,879
Totalexpenses
1,501,894 1,439,898
Surplus/(deficit)fortheyear
206,790 306,364
Othercomprehensiveincome
0 0
Totalcomprehensiveincomefortheyear
206,790 306,364
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SHOPDISTRIBUTIVE&ALLIEDEMPLOYEESASSOCIATION
SOUTHAUSTRALIANBRANCH
STATEMENTOFFINANCIALPOSITION
ASAT30JUNE2019
Notes 2019 2018
$ $
ASSETS CurrentAssets Cashandcashequivalents 5A 1,487,150 1,274,013
Tradeandotherreceivables 5B 52,728 49,660
Totalcurrentassets
1,539,877 1,323,673
Non-CurrentAssets FixedAssets 6 0 0
Totalnon-currentassets
0 0
Totalassets
1,539,877 1,323,673
LIABILITIES CurrentLiabilities Tradepayables 7A 2,405 4,983
Otherpayables 7B 8,586 11,387
Employeeprovisions 8A 76,275 61,481
Totalcurrentliabilities
87,266 77,851
Non-currentliabilities Employeeprovisions 9A 0 0
Totalnon-currentliabilities
0 0
TotalLiabilities
87,266 77,851
Netassets
1,452,612 1,245,822
EQUITY Generalfunds
1,245,822 939,458
Retainedearnings(accumualteddeficit)
206,790 306,364
Totalequity
1,452,612 1,245,822
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SHOPDISTRIBUTIVE&ALLIEDEMPLOYEESASSOCIATION
SOUTHAUSTRALIANBRANCH
STATEMENTOFCHANGESINEQUITY
FORTHEYEARENDED30JUNE2019
General Retained Total
Notes funds earnings equity
Balanceat1July2016
789,854 0 789,854
Adjustmentforerrors
0 0 0
Adjustmentfrochangesinaccountingpolicies
0 0 0
Profitfortheyear
149,604 0 149,604
Othercomprehensiveincomefortheyear
0 0 0
Transferto/fromfund(s)
0 0 0
Transferfromretainedearnings
0 0 0
Closingbalanceat30June2017
939,458 0 939,458
Balanceat1July2017 10A 939,458 0 939,458
Adjustmentforerrors
0 0 0
Adjustmentfrochangesinaccountingpolicies
0 0 0
Profitfortheyear
306,364 0 306,364
Othercomprehensiveincomefortheyear
0 0 0
Transferto/fromfund(s)
0 0 0
Transferfromretainedearnings
0 0 0
Closingbalanceat30June2018
1,245,822 0 1,245,822
Balanceat1July2018 10A 1,245,822 0 1,245,822
Profitfortheyear
206,790 0 206,790
Othercomprehensiveincomefortheyear
0 0 0
Transferto/fromfund(s)
0 0 0
Transferfromretainedearnings
0 0 0
Closingbalanceat30June2019
1,452,612 0 1,452,612
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SHOPDISTRIBUTIVE&ALLIEDEMPLOYEESASSOCIATION
SOUTHAUSTRALIANBRANCH
CASHFLOWSTATEMENT
FORTHEYEARENDED30JUNE2019
Note 2019 2018
$ $
OPERATINGACTIVITIES Cashreceived Receiptsfromotherreportingunits/controlledentities 11B 0 0
Interest
25,685 19,154
Other
1,682,999 1,727,109
Cashused Employees
(283,010) (313,408)
Suppliers
(253,439) (225,360)
Paymentstootherreportingunits/controlledentity(s) 11B (959,098) (960,921)
Netcashfrom(usedby)operatingactivities
213,137 246,573
INVESTINGACTIVITIES Cashreceived Proceedsfromsaleofplantandequipment
0 0
Other
0 0
Cashused Purchaseofplantandequipment
0 0
Other
0 0
Netcashfrom(usedby)investingactivities
0 0
FINANCINGACTIVITIES Cashreceived Contributedequity
0 0
Other
0 0
Cashused Repaymentofborrowings
0 0
Other
0 0
Netcashfrom(usedby)financingactivities
0 0
Netincrease(decrease)incashheld 11A 213,137 246,573Cashandcashequivalentsatthebeginningofthereportingperiod
1,274,013 1,027,440
Cashandcashequivalentsattheendofthereportingperiod 5A 1,487,150 1,274,013
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IndextotheNotesoftheFinancialStatementsNote1 SummaryofsignificantaccountingpoliciesNote2 EventsafterthereportingperiodNote3 IncomeNote4 ExpensesNote5 CurrentassetsNote6 Non-currentassetsNote7 CurrentliabilitiesNote8 ProvisionsNote9 Non-currentliabilitiesNote10 EquityNote11 CashflowNote12 Contingentliabilities,assetsandcommitmentsNote13 RelatedpartydisclosuresNote14 RemunerationofauditorsNote15 FinancialinstrumentsNote16 FairvaluemeasurementsNote17 AdministrationoffinancialaffairsbyathirdpartyNote18 Section272FairWork(RegisteredOrganisations)Act2009
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Note1Summaryofsignificantaccountingpolicies
1.1 Basisofpreparationofthefinancialstatements
ThefinancialstatementsaregeneralpurposefinancialstatementsandhavebeenpreparedinaccordancewithAustralianAccountingStandardsandInterpretationsissuedbytheAustralianAccountingStandardsBoard(AASB)thatapplyforthereportingperiod,andtheFairWork(RegisteredOrganisation)Act2009.Forthepurposeofpreparingthegeneralpurposefinancialstatements,theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchisanot-for-profitentity.
Thefinancialstatementshavebeenpreparedonanaccrualbasisandinaccordancewiththehistoricalcost,exceptforcertainassetsandliabilitiesmeasuredatfairvalue,asexplainedintheaccountingpoliciesbelow.Historicalcostisgenerallybasedonthefairvaluesoftheconsiderationgiveninexchangeforassets.Exceptwherestated,noallowanceismadefortheeffectofchangingpricesontheresultsorthefinancialposition.ThefinancialstatementsarepresentedinAustraliandollars.
1.2 Comparativeamounts
WhenrequiredbyAccountingStandards,comparativefigureshavebeenadjustedtoconformtochangesinpresentationforthecurrentfinancialyear.
1.3 Significantaccountingjudgementsandestimates
The following accounting assumptions or estimates have been identified that have a significant risk ofcausingamaterialadjustmenttothecarryingamountsofassetsandliabilitieswithinthenextreportingperiod.
None
1.4 NewAustralianAccountingStandards
AdoptionofNewAustralianAccountingStandardRequirements
Theentityhasadoptedallofthenew,revisedoramendingAccountingStandardsandInterpretationsissuedbytheAustralianAccountingStandardsBoard('AASB')thataremandatoryforthecurrentreportingperiod.Noneofthesestandardsareassessedtohavehadasignificantimpactontheaccountingpolicies.Anynew,revisedoramendingAccountingStandardsorInterpretationsthatarenotyetmandatoryhavenotbeenearlyadopted.
1.5 Acquisitionofassetsandorliabilitiesthatdonotconstituteabusinesscombination
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchdidnotacquireanassetorliabilityduetoanamalgamationunderPart2ofChapter3oftheROAct,arestructureofthebranchesoftheorganisation,adeterminationorrevocationbytheGeneralManageroftheFairWorkCommissionundersubsections245(1)or249(1)oftheROAct.
1.6 Revenue
Revenueismeasuredatthefairvalueoftheconsiderationreceivedorreceivable.
Revenuefromsubscriptionsisaccountedforonanaccrualbasisandisrecordedasrevenueintheyeartowhichitrelates.
Donationincomeisrecognisedwhenitisreceived.
Receivablesforgoodsandservices,whichhave30dayterms,arerecognisedatthenominalamountsduelessanylossallowanceduetoexpectedcreditlossesateachreportingdate.Aprovisionmatrixthatisbasedonhistoricalcreditlossexperience,adjustedforforward-lookingfactorsspecifictothedebtorsandtheeconomicenvironmenthasbeenestablished.
Interestrevenueisrecognisedonanaccrualbasisusingtheeffectiveinterestmethod.
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1.7 Capitationfeesandlevies
Capitationfeesandleviesarerecognisedonanaccrualbasisandrecordedasarevenueand/orexpenseintheyeartowhichitrelates.
1.8 Employeebenefits
Aliabilityisrecognisedforbenefitsaccruingtoemployeesinrespectofwagesandsalaries,annualleave,longserviceleaveandterminationbenefitswhenitisprobablethatsettlementwillberequiredandtheyarecapableofbeingmeasuredreliably.
Liabilitiesforshort-termemployeebenefits(asdefinedinAASB119EmployeeBenefits)andterminationbenefitswhichareexpectedtobesettledwithintwelvemonthsoftheendofreportingperiodaremeasuredattheirnominalamounts.Thenominalamountiscalculatedwithregardtotheratesexpectedtobepaidonsettlementoftheliability.
Otherlong-termemployeebenefitswhichareexpectedtobesettledbeyondtwelvemonthsaremeasuredasthepresentvalueoftheestimatedfuturecashoutflowstobemadebythereportingunitinrespectofservicesprovidedbyemployeesuptoreportingdate.
Paymentstodefinedcontributionretirementbenefitplansarerecognisedasanexpensewhenemployeeshaverenderedserviceentitlingthemtothecontributions.
Provisionismadeforseparationandredundancybenefitpayments.TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchrecognisesaprovisionforterminationaspartofabroaderrestructuringwhenithasdevelopedadetailedformalplanfortheterminationsandhasinformedthoseemployeesaffectedthatitwillcarryouttheterminations.Aprovisionforvoluntaryterminationisrecognisedwhentheemployeehasacceptedtheofferoftermination.
1.9 Cash
Cashisrecognisedatitsnominalamount.Cashandcashequivalentsincludescashonhand,depositsheldatcallwithbank,othershort-termhighlyliquidinvestmentswithoriginalmaturityof3monthsorlessthatarereadilyconvertibletoknownamountsofcashandsubjecttoinsignificantriskofchangesinvalueandbankoverdrafts.Bankoverdraftsareshownwithinshort-termborrowingsincurrentliabilitiesonthestatementoffinancialposition.
1.10 Financialinstruments
FinancialassetsandfinancialliabilitiesarerecognisedwhenaShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchentitybecomesapartytothecontractualprovisionsoftheinstrument.
1.11 Financialassets
Initialrecognitionandmeasurement
Financialassetsareclassified,atinitialrecognition,andsubsequentlymeasuredatamortisedcost,fairvaluethroughothercomprehensiveincome(OCI),orfairvaluethroughprofitorloss.
Theclassificationoffinancialassetsatinitialrecognitiondependsonthefinancialasset’scontractualcashflowcharacteristicsandtheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch’sbusinessmodelformanagingthem.Withtheexceptionoftradereceivablesthatdonotcontainasignificantfinancingcomponent,theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchinitiallymeasuresafinancialassetatitsfairvalueplus,inthecaseofafinancialassetnotatfairvaluethroughprofitorloss,transactioncosts.
InorderforafinancialassettobeclassifiedandmeasuredatamortisedcostorfairvaluethroughOCI,itneedstogiverisetocashflowsthatare‘solelypaymentsofprincipalandinterest’(SPPI)ontheprincipalamountoutstanding.ThisassessmentisreferredtoastheSPPItestandisperformedataninstrumentlevel.
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TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch’sbusinessmodelformanagingfinancialassetsreferstohowitmanagesitsfinancialassetsinordertogeneratecashflows.Thebusinessmodeldetermineswhethercashflowswillresultfromcollectingcontractualcashflows,sellingthefinancialassets,orboth.
Purchasesorsalesoffinancialassetsthatrequiredeliveryofassetswithinatimeframeestablishedbyregulationorconventioninthemarketplace(regularwaytrades)arerecognisedonthetradedate,i.e.,thedatethattheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchcommitstopurchaseorselltheasset.
Subsequentmeasurement
Forpurposesofsubsequentmeasurement,financialassetsareclassifiedinfivecategories:
• (Other)financialassetsatamortisedcost
• (Other)financialassetsatfairvaluethroughothercomprehensiveincome
• Investmentsinequityinstrumentsdesignatedatfairvaluethroughothercomprehensiveincome
• (Other)financialassetsatfairvaluethroughprofitorloss
• (Other)financialassetsdesignatedatfairvaluethroughprofitorloss
Derecognition
Afinancialassetisderecognisedwhen:
• Therightstoreceivecashflowsfromtheassethaveexpiredor
• TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchhastransferreditsrightstoreceivecashflowsfromtheassetorhasassumedanobligationtopaythereceivedcashflowsinfullwithoutmaterialdelaytoathirdpartyundera‘pass-through’arrangement;andeither:
a) theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchhastransferredsubstantiallyalltherisksandrewardsoftheasset,or
b) theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchhasneithertransferrednorretainedsubstantiallyalltherisksandrewardsoftheasset,buthastransferredcontroloftheasset.
WhentheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchhastransferreditsrightstoreceivecashflowsfromanassetorhasenteredintoapass-througharrangement,itevaluatesif,andtowhatextent,ithasretainedtherisksandrewardsofownership.
Whenithasneithertransferrednorretainedsubstantiallyalloftherisksandrewardsoftheasset,nortransferredcontroloftheasset,theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchcontinuestorecognisethetransferredassettotheextentofitscontinuinginvolvementtogetherwithassociatedliability.
Offsetting
Financial assets and financial liabilities are offset and the net amount is reported in the statement offinancialpositionifthereisacurrentlyenforceablelegalrighttooffsettherecognisedamountsandthereisanintentiontosettleonanetbasis,torealisetheassetsandsettletheliabilitiessimultaneously.
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Impairment
(i) Tradereceivables
Fortradereceivablesthatdonothaveasignificantfinancingcomponent,theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchappliesasimplifiedapproachincalculatingexpectedcreditlosses(ECLs)whichrequireslifetimeexpectedcreditlossestoberecognisedfrominitialrecognitionofthereceivables.
Therefore,theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchdoesnottrackchangesincreditrisk,butinsteadrecognisesalossallowancebasedonlifetimeECLsateachreportingdate.TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchhasestablishedaprovisionmatrixthatisbasedonitshistoricalcreditlossexperience,adjustedforforward-lookingfactorsspecifictothedebtorsandtheeconomicenvironment.
1.12 FinancialLiabilities
Initialrecognitionandmeasurement
Financialliabilitiesareclassified,atinitialrecognition,atamortisedcostunlessoratfairvaluethroughprofitorloss.
Allfinancialliabilitiesarerecognisedinitiallyatfairvalueand,inthecaseoffinancialliabilitiesatamortisedcost,netofdirectlyattributabletransactioncosts.
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch’sfinancialliabilitiesincludetradeandotherpayables.
Subsequentmeasurement
Financialliabilitiesatfairvaluethroughprofitorloss(includingdesignated)
Financialliabilitiesatfairvaluethroughprofitorlossincludefinancialliabilitiesheldfortradingandfinancialliabilitiesdesignateduponinitialrecognitionasatfairvaluethroughprofitorloss.
Financialliabilitiesdesignateduponinitialrecognitionatfairvaluethroughprofitorlossaredesignatedattheinitialdateofrecognition,andonlyifthecriteriainAASB9aresatisfied.
Derecognition
Afinancialliabilityisderecognisedwhentheobligationundertheliabilityisdischargedorcancelledorexpires.Whenanexistingfinancialliabilityisreplacedbyanotherfromthesamelenderonsubstantiallydifferentterms,orthetermsofanexistingliabilityaresubstantiallymodified,suchanexchangeormodificationistreatedasthederecognitionoftheoriginalliabilityandtherecognitionofanewliability.Thedifferenceintherespectivecarryingamountsisrecognisedinprofitorloss.
1.13 Contingentliabilitiesandcontingentassets
Contingentliabilitiesandcontingentassetsarenotrecognisedinthestatementoffinancialpositionbutarereportedintherelevantnotes.Theymayarisefromuncertaintyastotheexistenceofaliabilityorassetorrepresent an existing liability or asset in respect of which the amount cannot be reliably measured.Contingent assets are disclosed when settlement is probable but not virtually certain, and contingentliabilitiesaredisclosedwhensettlementisgreaterthanremote.
1.14 Taxation
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchisexemptfromincometaxundersection50.1oftheIncomeTaxAssessmentAct1997howeverstillhasobligationforFringeBenefitsTax(FBT)andtheGoodsandServicesTax(GST).
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Revenues,expensesandassetsarerecognisednetofGSTexcept:• wheretheamountofGSTincurredisnotrecoverablefromtheAustralianTaxationOffice;and• forreceivablesandpayables.
ThenetamountofGSTrecoverablefrom,orpayableto,thetaxationauthorityisincludedaspartofreceivablesorpayables.
Cashflowsareincludedinthestatementofcashflowsonagrossbasis.TheGSTcomponentofcashflowsarisingfrominvestingandfinancingactivitieswhichisrecoverablefrom,orpayableto,theAustralianTaxationOfficeisclassifiedwithinoperatingcashflows.
1.15 Fairvaluemeasurement
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchmeasuresfinancialinstruments,suchas,financialassetsasatfairvaluethroughtheprofitandloss,financialassetsatfairvaluethroughOCI,andnon-financialassetssuchaslandandbuildingsandinvestmentproperties,atfairvalueateachbalancesheetdate.
Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransactionbetweenmarketparticipantsatthemeasurementdate.Thefairvaluemeasurementisbasedonthepresumptionthatthetransactiontoselltheassetortransfertheliabilitytakesplaceeither:
• Intheprincipalmarketfortheassetorliability,or
• Intheabsenceofaprincipalmarket,inthemostadvantageousmarketfortheassetorliability
TheprincipalorthemostadvantageousmarketmustbeaccessiblebytheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch.Thefairvalueofanassetoraliabilityismeasuredusingtheassumptionsthatmarketparticipantswouldusewhenpricingtheassetorliability,assumingthatmarketparticipantsactintheireconomicbestinterest.
Afairvaluemeasurementofanon-financialassettakesintoaccountamarketparticipant'sabilitytogenerateeconomicbenefitsbyusingtheassetinitshighestandbestuseorbysellingittoanothermarketparticipantthatwouldusetheassetinitshighestandbestuse.
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchusesvaluationtechniquesthatareappropriateinthecircumstancesandforwhichsufficientdataareavailabletomeasurefairvalue,maximisingtheuseofrelevantobservableinputsandminimisingtheuseofunobservableinputs.
Allassetsandliabilitiesforwhichfairvalueismeasuredordisclosedinthefinancialstatementsarecategorisedwithinthefairvaluehierarchy,describedasfollows,basedonthelowestlevelinputthatissignificanttothefairvaluemeasurementasawhole:• Level1—Quoted(unadjusted)marketpricesinactivemarketsforidenticalassetsorliabilities• Level2—Valuationtechniquesforwhichthelowestlevelinputthatissignificanttothefairvalue
measurementisdirectlyorindirectlyobservable• Level3—Valuationtechniquesforwhichthelowestlevelinputthatissignificanttothefairvalue
measurementisunobservable
Forassetsandliabilitiesthatarerecognisedinthefinancialstatementsonarecurringbasis,theShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchdetermineswhethertransfershaveoccurredbetweenlevelsinthehierarchybyre-assessingcategorisation(basedonthelowestlevelinputthatissignificanttothefairvaluemeasurementasawhole)attheendofeachreportingperiod.
1.16 Goingconcern
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchisnotreliantontheagreedfinancialsupportofanotherreportingunittocontinueonagoingconcernbasis.
TheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchhasnotagreedtoprovidefinancialsupporttoanotherreportingunittoensuretheycancontinueonagoingconcernbasis.
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Note2Eventsafterthereportingperiod
Therewerenoeventsthatoccurredafter30June2019,and/orpriortothesigningofthefinancialstatements,thatwouldaffecttheongoingstructureandfinancialactivitiesoftheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch.
2019 2018
$ $
Note3Income
Note3A:Capitationfeesandotherrevenuefromanotherreportingunit
Capitationfees: None 0 0
Subtotalcapitationfees 0 0
Otherrevenuefromanotherreportingunit: None 0 0
Subtotalotherrevenuefromanotherreportingunit 0 0
Totalcapitationfeesandotherrevenuefromanotherreportingunit 0 0
Note3B:Affiliationfees
ShopDistributive&AlliedEmployeesAssociationSouthAustralianBranch 720,340 597,105
Totalaffiliationfees 720,340 597,105
Note3C:Levies
"Noonedeservesaserve"campaign 60,028 34,158
ALPelectioncampaign 52,519 0
Internationalfundlevy 0 89,566
"Changetherules"campaign 0 116,578
NationalIntranetmanagementfee 3,357 7,459
NationalWork-ITprojectfee 15,546 10,250
SpecialistNewssubscription 396 289
ThomsonReuterssubscription 1,043 387
ACTUCongress 0 4,893
Totallevies 132,890 263,579
Note3D:Investmentincome
Interest Deposits 25,685 19,154
Loans 0 0
Totalinvestmentincome 25,685 19,154
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2019 2018
$ $
Note3E:Grantsordonations
Grants 0 0
Donations 215 0
Totalgrantsordonations 215 0
Note3F:Netgainsfromsaleofassets
PlantandEquipment 0 0
Totalnetgainsfromsaleofassets 0 0
Note3G:Revenuefromrecoveryofwagesactivity
Amountsrecoveredfromemployersinrespectofwages 0 0
Interestreceivedonrecoveredmoney 0 0
Totalrevenuefromrecoveryofwagesactivity 0 0
Note4Expenses
Note4A:Employeeexpenses
Holdersofoffice: Grosswagesandsalaries 29,255 26,777
Leavepaidout (1,411) 0
Accruedleaveandotherentitlements 4,892 2,354
Superannuation 4,387 4,764
Separationandredundancies 0 0
Otheremployeeexpenses 0 0
Subtotalemployeeexpensesholdersofoffice 37,123 33,895
Employeesotherthanholdersofoffice: Grosswagesandsalaries 202,084 220,018
Leavepaidout (8,238) 0
Accruedleaveandotherentitlements 19,552 21,911
Superannuation 32,490 37,584
Separationandredundancies 0 0
Otheremployeeexpenses 418 0
Subtotalemployeeexpensesotherthanholdersofoffice 246,305 279,513
Totalemployeeexpenses 283,428 313,408
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2019 2018
$ $
Note4B:Capitationfeesandotherexpensetoanotherreportingunit
Capitationfees None 0 0
Subtotalcapitationfees 0 0
Otherexpensetoanotherreportingunit SDANationalOffice,affiliationfees 808,462 664,811
SDANationalOffice,levies 150,636 296,110
Subtotalotherexpensetoanotherreportingunit 959,098 960,921
Totalcapitationfeesandotherrevenuetoanotherreportingunit 959,098 960,921
Note4C:Affiliationfees
ALPNTBranch 13,600 9,525
SDANationalOffice 808,462 664,811
Totalaffiliationfees/subscriptions 822,062 674,337
Note4D:Levies
(a)SDANationalOffice "Noonedeservesaserve"campaign 68,213 38,815
ALP2019electiondonation 59,307 0
InternationalFundlevy 0 99,722
"Changetherules"campaign 0 131,884
NationalIntranetManagementfee 3,815 8,437
NationalWork-ITProjectfee 17,666 11,595
SpecialistNewssubscription 450 327
ThompsonReuterssubscription 1,186 438
ACTUCongress 0 4,893
(b)ALPNTBranch 2018Conferencelevy 0 350
Totallevies 150,636 296,460
Note4E:Administrativeexpenses
Totalpaidtoemployersforpayrolldeductionsofmembershipsubscriptions 4,340 7,780
Fees/allowance-meetingsandconferences 23,815 4,557
Conferenceandmeetingexpenses 12,408 15,175
Officeexpenses 54,766 54,192
Totaladministrationexpenses 95,329 81,703
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2019 2018
$ $
Note4F:Grantsordonations
Grants: Totalexpensedthatwere$1,000orless 0 0
Totalexpensedthatexceeded$1,000 0 0
Donations: Totalexpensedthatwere$1,000orless 955 0
Totalexpensedthatexceeded$1,000 73,909 1,113
Totalgrantsordonations 74,864 1,113
Note4G:Depreciation
PropertyPlantandEquipment 0 0
Totaldepreciation 0 0
Note4H:Legalcosts
Litigation 0 0
Otherlegalcosts 0 2,000
Totallegalcosts 0 2,000
Note4J:Otherexpenses
Fringebenefitstax 4,493 6,116
Payrolltax 11,796 13,497
MVexpenses 22,049 30,004
Penalties-viaROActortheFairWorkAct2009 0 0
Balanceofother 31,237 15,262
Totalotherexpenses 69,575 64,879
Note5CurrentAssets
Note5A:Cashandcashequivalents
Cashatbank 71,028 33,409
Cashonhand 200 200
Shorttermdeposits 1,415,921 1,240,404
Other 0 0
Totalcashandcashequivalents 1,487,150 1,274,013
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P22
2019 2018 $ $Note5B:Tradeandotherreceivables
Receivablesfromotherreportingunits
None 0 0
Totalreceivablesfromotherreportingunits 0 0
Lessallowanceforexpectedcreditlosses None 0 0
Totalallowanceforexpectedcreditlosses 0 0
Receivablefromotherreportingunits(net) 0 0
Otherreceivables: GSTreceivable 4,793 4,515
Memberssubscriptions 47,934 45,145
Totalotherreceivables 52,728 49,660
Totaltradeandotherreceivables(net) 52,728 49,660
Note6Non-currentassets
Note6A:Landandbuildings None 0 0
Totallandandbuildings 0 0
Note6B:Plantandequipment None 0 0
Totalplantandequipment 0 0
Note6C:Intangibles None 0 0
Totalintangibles 0 0
Totalnon-currentassets 0 0
Note7CurrentLiabilities
Note7A:Tradepayables
Tradecreditorsandaccruals 2,405 4,983
Subtotaltradecreditors 2,405 4,983
Payablestootherreportingunits None 0 0
Subtotalpayablestootherreportingunits 0 0
Totaltradepayables 2,405 4,983
Settlementisusuallymadewithin30days.
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P23
2019 2018 $ $Note7B:Otherpayables
Wagesandsalaries 8,276 9,185
Superannuation 916 1,495Payabletoemployersformakingpayrolldeductionsofmembershipsubscriptions 234 278
Payrolltax 2,260 0
Legalcosts Litigation 0 0
Otherlegalcosts 0 0
Prepaymentsreceived/unearnedrevenue 0 0
Fringebenefitstax 418 0
GSTpayable (3,517) 0
Totalotherpayables 8,586 10,958
Totalotherpayablesareexpectedtobesettledin: Nomorethan12months 8,586 10,958
Morethan12months 0 0
Totalotherpayables 8,586 10,958
Note8Provisions
Note8A:Employeeprovisions
Officeholders: Annualleave 1,140 (2,341)
Longserviceleave 0 0
Separationsandredundancies 0 0
Other 0 0
Subtotalemployeeprovisions-officeholders 1,140 (2,341)
Employeesotherthanofficeholders: Annualleave 41,731 33,992
Longserviceleave 33,404 29,830
Separationsandredundancies 0 0
Other 0 0
Subtotalemployeeprovisions-employeesotherthanofficeholders 75,135 63,822
Totalemployeeprovisions 76,275 61,481
Current 76,275 61,481
Noncurrent 0 0
Totalemployeeprovisions 76,275 61,481
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P24
2019 2018 $ $Note9Non-currentliabilities
Note9A:Othernon-currentliabilities
Leaveprovisions 0 0
Totalothernon-currentliabilities 0 0
Totalothernon-currentliabilities 0 0
Note10Equity
Note10A:Generalfunds
Generalfund Balanceasatstartofyear 1,245,822 939,458
Netprofit 206,790 306,364
Transferredtoreserve 0 0
Transferredfromreserve 0 0
Balanceasatendofyear 1,452,612 1,245,822
Totalreserves 0 0
Note10B:Otherspecificdisclosures-funds
Compulsorylevy/voluntarycontributionfund-ifinvestedinassets
None 0 0
Totalcompulsorylevy/voluntarycontributionfund-ifinvestedinassets 0 0
Otherfundsrequiredbytherules
None 0 0
Totalotherfundsrequiredbytherules 0 0
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P25
2019 2018 $ $Note11Cashflow
Note11A:Cashflowreconciliation
Reconciliationofcashandcashequivalentsasperstatementoffinancialpositiontocashflowstatement
Cashandcashequivalentsasper: Cashflowstatement 1,487,150 1,274,013
Statementoffinancialposition 1,487,150 1,274,013
Difference 0 0
Reconciliationofprofit/(deficit)tonetcashfromoperatingactivities
Profit/(deficit)fortheyear 206,790 306,364
Adjustmentsfornon-cashitems Depreciation/amortisation 0 0
Netwrite-downofnon-financialassets 0 0
Fairvaluemovementsininvestmentproperty 0 0
Gain/(Loss)ondisposalofassets 0 0
Changesinassets/liabilities (Increase)/decreaseinnetreceivables (3,068) 14,323
Increase/(decrease)insupplierpayables (2,578) (60,653)
Increase/(decrease)inotherpayables (2,801) (15,742)
Increase/(decrease)inemployeeprovisions 14,793 2,282
Netcashfrom(usedby)operatingactivities 213,137 246,573
Note11B:Cashflowinformation
Cashinflowsfromrelatedparties
None 0 0
Totalcashinflowsfromrelatedparties 0 0
Cashoutflowstorelatedparties SDANationalOffice-affiliationfees 808,462 664,811
SDANationalOffice-levies 150,636 296,110
Totalcashoutflowstorelatedparties 959,098 960,921
Therewerenotransferstoorwithdrawalsfromafund(otherthanthegeneralfund),account,assetorcontrolledentity.
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
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Note12ContingentLiabilities,AssetsandCommitmentsTherearenoknowncontingentliabilities,assetsandcommitmentsatthecloseofthefinancialyear.
Note13RelatedPartyDisclosures
Note13A:Relatedpartytransactionsforthereportingperiod Thefollowingtableprovidesthetotalamountoftransactionsthathavebeenenteredintowithrelatedparties
fortherelevantyear.
2019 2018
$ $Revenuereceivedfromrelatedparties: None 0 0
Expensespaidtorelatedparties: SDANationalOffice,affiliationfees 808,462 664,811
SDANationalOffice,levies 150,636 296,110
Amountsowedbyrelatedparties: None 0 0
Amountsowedtorelatedparties: None 0 0
Loansfrom/torelatedparties: None 0 0
Assetstransferredfrom/torelatedparties: None 0 0
Paymentsmadetoaformerrelatedpartyofthereportingunit None 0 0
Termsandconditionsoftransactionswithrelatedparties Thesalestoandpurchasesfromrelatedpartiesaremadeontermsequivalenttothosethatprevailinarm’s
lengthtransactions.Outstandingbalancesforsalesandpurchasesattheyear-endareunsecuredandinterestfreeandsettlementoccursincash.
Therehavebeennoguaranteesprovidedorreceivedforanyrelatedpartyreceivablesorpayables.
Fortheyearended30June2019,theShopDistributiveandAlliedEmployeesAssociationSouthAustralian
Branchhasnotrecordedanyimpairmentofreceivablesrelatingtoamountsowedbyrelatedpartiesanddeclaredpersonorbody(2018:$Nil).
Thisassessmentisundertakeneachfinancialyearthroughexaminingthefinancialpositionoftherelated
partyandthemarketinwhichtherelatedpartyoperates.
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P27
Note13B:Keymanagementpersonnelremunerationforthereportingperiod 2019 2018
$ $Short-termemployeebenefits Grosswagesandsalaries 29,255 31,761
Annualleavepaidout (1,411) 0
Accruedannualleave 4,892 2,354
Performancebonus 0 0
Totalshort-termemployeebenefits 32,735 34,115
Post-employmentbenefits: Superannuation 4,387 4,764
Totalpost-employmentbenefits 4,387 4,764
Otherlong-termbenefits: Accruedlongserviceleave 0 0
Totalotherlong-termbenefits 0 0
Terminationbenefits 0 0
Totalterminationbenefits 0 0
Totalkeymanagementpersonnelremunerationforthereportingperiod 37,123 38,879
Note13C:Transactionswithkeymanagementpersonnelandtheirclosefamilymembers
Loansto/fromkeymanagementpersonnel None 0 0
Othertransactionswithkeymanagementpersonnel None 0 0
Note14RemunerationofAuditors
Valueoftheservicesprovided Financialstatementauditservices 6,000 6,000
Otherservices 0 0
Totalremunerationofauditors 6,000 6,000
Nootherserviceswereprovidedbytheauditorsofthefinancial
statements.
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P28
2019 2018
$ $
Note15:FinancialInstruments
Theentity'sfinancialinstrumentsconsistofabankchequeaccount,cashmanagementaccountandterm
depositplusaccountsreceivableandpayable.
Note15A:CategoriesofFinancialInstruments
FinancialAssets
Fairvaluethroughprofitorloss:
Chequeaccount 71,028 33,409
CashManagementaccount 182,050 526,681Cashonhand 200 200
Total 253,278 560,290
Held-to-maturityinvestments: Termdeposit 1,233,872 713,723
Total 1,233,872 713,723
Available-for-saleassets: None 0 0
Total 0 0
Loansandreceivables: Accountsreceivable 52,728 49,660
Total 52,728 49,660
Carryingamountoffinancialassets 1,539,877 1,323,673
FinancialLiabilities
Fairvaluethroughprofitorloss:
Accountspayable 10,991 77,851
Total 10,991 77,851
Otherfinancialliabilities: None 0 0
Total 0 0
Carryingamountoffinancialliabilities 10,991 77,851
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P29
Note15B:NetIncomeandExpensefromFinancialAssets 2019 2018
$ $
Held-to-maturity
Interestrevenue 20,149 19,061Exchangegains/(loss) - -
Impairment - -
Gain/lossondisposal - -
Netgain/(loss)held-to-maturity 20,149 13,723
Loansandreceivables
Interestrevenue - -
Exchangegains/(loss) - -
Impairment - -
Gain/lossondisposal - -
Netgain/(loss)fromloansandreceivables 0 0
Availableforsale
Interestrevenue - -
Dividendrevenue - -
Exchangegains/(loss) - -
Gain/lossrecognisedinequity - -
Amountsreversedfromequity:
Impairment - -
Fairvaluechangesreversedondisposal - -
Gain/lossondisposal - -
Netgain/(loss)fromavailableforsale 0 0
Fairvaluethroughprofitandloss
Heldfortrading:
Changeinfairvalue - -
Interestrevenue 5,537 5,431
Dividendrevenue - -
Exchangegains/(loss) - -
Totalheldfortrading 5,537 5,431
Designatedasfairvaluethroughprofitandloss:
Changeinfairvalue - -
Interestrevenue - -
Dividendrevenue - -
Exchangegains/(loss) - -
Totaldesignatedasfairvaluethroughprofitandloss 0 0
Netgain/(loss)atfairvaluethroughprofitandloss 5,537 5,431
Netgain/(loss)fromfinancialassets 25,685 19,154
Thenetincome/expensefromfinancialassetsnotatfairvaluefromprofitandlossis$0.00(2018:$0.00).
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P30
2019 2018
Note15C:NetIncomeandExpensefromFinancialLiabilities $ $
Atamortisedcost
Interestexpense - -
Exchangegains/(loss) - -
Gain/lossondisposal - -
Netgain/(loss)financialliabilities-atamortisedcost 0 0
Fairvaluethroughprofitandloss
Heldfortrading:
Changeinfairvalue - -
Interestexpense - -
Exchangegains/(loss) - -
Totalheldfortrading - -
Designatedasfairvaluethroughprofitandloss:
Changeinfairvalue - -
Interestexpense - -
Totaldesignatedasfairvaluethroughprofitandloss - -
Netgain/(loss)atfairvaluethroughprofitandloss 0 0
Netgain/(loss)fromfinancialliabilities 0 0
Thenetincome/expensefromfinancialliabilitiesnotatfairvaluefromprofitandlossis$0.00(2018:$0.00).
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
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Note15D:CreditRisk
Creditriskistheriskoffinanciallosstotheentityifacounterpartytoafinancialinstrumentfailstomeetitscontractualobligationsandarisedprincipallyfromtheentity'sreceivables.
TradeandotherreceivablesThisrelatestotheentity'screditworthiness.Itisinastrongfinancialpositionandisabletopaydebtors.
CashandcashequivalentsTheentitymitigatescreditriskbydepositingfundswithAustralianfinancialinstitutionswithappropriatecreditratings.
Thefollowingtableillustratestheentity'sgrossexposuretocreditrisk,excludinganycollateralorcreditenhancements.
2019 2018
$ $
Financialassets Cashandcashequivalents 1,487,150 1,274,013Tradeandotherreceivables 52,728 49,660Total 1,539,877 1,323,673
Financialliabilities
Tradepayables 2,405 16,369Otherpayables 8,586 0Total 10,991 16,369
Inrelationtotheentity'sgrosscreditriskthefollowingcollateralisheld:None
Creditqualityoffinancialinstrumentsnotpastdueorindividuallydeterminedasimpaired
NotPastDueNorImpaired
Pastdueorimpaired
NotPastDueNorImpaired
Pastdueorimpaired
2019 2019 2018 2018
$ $ $ $
Tradeandotherreceivables 52,728 - 16,369 -
Total 52,728 - 16,369 -
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P32
Ageingoffinancialassetsthatwerepastduebutnotimpairedfor2019
0to30days 31to60days 61to90days 90+days Total
$ $ $ $ $
Tradeandotherreceivables 52,728 - - - 52,728
Total - - - - -
Ageingoffinancialassetsthatwerepastduebutnotimpairedfor2018
0to30days 31to60days 61to90days 90+days Total
$ $ $ $ $
Tradeandotherreceivables 49,660 - - - 49,660
Total - - - - -
Noassetshavebeenindividuallyassessedasimpaired.
Note15E:LiquidityRiskLiquidityriskistherisktheentitywillencounterdifficultyinmeetingtheobligationsassociatedwithitsfinancialliabilitiesthataresettledbydeliveringcashoranotherfinancialasset.Theentity'sapproachtomanagingliquidityistoensurethatitwillalwayshavesufficientliquiditytomeetitsliabilitieswhenduewithoutincurringunacceptablelossesorriskingdamagetotheentity'sreputation.
Theentityensuresithassufficientcashondemandtomeetexpectedoperationalexpensesfora90dayperiod.Thisexcludesthepotentialimpactofextremecircumstancesthatcannotreasonablybepredicted,suchasnaturaldisasters.Theentitydoesnotmaintainanylinesofcredit.
Contractualmaturitiesforfinancialliabilities2019
OnDemand
<1year 1–2years 2–5years >5years Total
$ $ $ $ $
Tradeandotherpayables - 10,991 - - - 10,991
Total - - - - - -
Contractualmaturitiesforfinancialliabilities2018
On
Demand<1year 1–2years 2–5years >5years Total
$ $ $ $ $
Tradeandotherpayables - 16,369 - - - 16,369
Total - - - - - -
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P33
Note15F:MarketRiskMarketriskistheriskthatchangesininterestrate,priceriskand/orcurrencyriskwillaffecttheentity'sincomeorthevalueofitsfinancialinstruments.Theobjectiveofmarketriskmanagementistomanageandcontrolmarketriskexposureswithinacceptableparameters,whileoptimisingreturn.
Interestraterisk
Theentityadoptsapolicyofensuringitsexposuretochangesininterestratesislimitedtoinvestinginhighreturndepositswithoutafixedterm.
Sensitivityanalysisoftheriskthattheentityisexposedtofor2019
Changeinriskvariable%
Effecton
Riskvariable Profitandloss Equity
$ $
Interestraterisk [+0.5%] 128 128
Interestraterisk [-0.5%] (128) (128)
Sensitivityanalysisoftheriskthattheentityisexposedtofor2018
Changeinriskvariable%
Effecton
Riskvariable Profitandloss Equity
$ $
Interestraterisk [+1%] 164 164
Interestraterisk [-1%] (164) (164)[Wherethesensitivityanalysisisnotrepresentativeoftheriskinherentinafinancialinstrument—anentitydisclosesthisfactandthereasonswhy]
Pricerisk
Priceriskisthepotentialforthedeclineinthepriceofanassetorsecurityrelativetotherestofthemarket.Itexcludesmarketrisk,orthepotentialforanentiremarkettogodowninvalue.Assuch,priceriskisthecomponentofinvestingriskthatcanbereducedwithdiversification.
Sensitivityanalysisoftheriskthattheentityisexposedtofor2019
Changeinriskvariable%
Effecton
Riskvariable Profitandloss Equity
$ $
Otherpricerisk - [+0.5%] 128 7,435
Otherpricerisk - [-0.5%] (128) (7,435)
Sensitivityanalysisoftheriskthattheentityisexposedtofor2018
Changeinriskvariable%
Effecton
Riskvariable Profitandloss Equity
$ $
Otherpricerisk - [+1%] 5,267 5,267
Otherpricerisk - [-1%] (5,267) (5,267)
ShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranch(FederalBody)
FinancialReportfortheyearended30June2019P34
Note15G:AssetPledged/orHeldasCollateral
None
Note16:FairValueMeasurement
Note16A:FinancialAssetsandLiabilities
ManagementoftheShopDistributiveandAlliedEmployeesAssociationSouthAustralianBranchassessedthatcash,tradereceivables,tradepayables,andothercurrentliabilitiesapproximatetheircarryingamountslargelyduetotheshorttermmaturitiesoftheseinstruments.
Note17AdministrationoffinancialaffairsbyathirdpartyNameofentityprovidingservice:ShopDistributiveandAlliedEmployees’AssociationSouthAustralianBranch(Statebody)Termsandconditions:Serviceprovidedwithoutcharge.Natureofconsultancyservice:Managingfinancialaffairsincludingpreparationoffinancialreports.
Note18Section272FairWork(RegisteredOrganisations)Act2009InaccordancewiththerequirementsoftheFairWork(RegisteredOrganisations)Act2009,theattentionofmembersisdrawntotheprovisionsofsubsections(1)to(3)ofsection272,whichreadsasfollows:InformationtobeprovidedtomembersorCommissioner:
1) Amemberofareportingunit,ortheCommissioner,mayapplytothereportingunitforspecifiedprescribedinformationinrelationtothereportingunittobemadeavailabletothepersonmakingtheapplication.
2) Theapplicationmustbeinwritingandmustspecifytheperiodwithinwhich,andthemannerinwhich,theinformationistobemadeavailable.Theperiodmustnotbelessthan14daysaftertheapplicationisgiventothereportingunit.
3) Areportingunitmustcomplywithanapplicationmadeundersubsection(1).