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


TableofContentsIndependentAuditor'sReportReportRequiredUnderSubsection255(2A)OperatingReportCommitteeofManagementStatementOfficerDeclarationStatementStatementofComprehensiveIncomeStatementofFinancialPositionStatementofChangesinEquityStatementofCashFlowsNotestotheFinancialStatements



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



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





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





STATEMENTOFCHANGESINEQUITY


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


0 0 0


0 0 0


0 0 0


1,245,822 0 1,245,822

Balanceat1July2018 10A 1,245,822 0 1,245,822

Profitfortheyear

206,790 0 206,790


0 0 0


0 0 0


0 0 0


1,452,612 0 1,452,612





CASHFLOWSTATEMENT


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



IndextotheNotesoftheFinancialStatementsNote1 SummaryofsignificantaccountingpoliciesNote2 EventsafterthereportingperiodNote3 IncomeNote4 ExpensesNote5 CurrentassetsNote6 Non-currentassetsNote7 CurrentliabilitiesNote8 ProvisionsNote9 Non-currentliabilitiesNote10 EquityNote11 CashflowNote12 Contingentliabilities,assetsandcommitmentsNote13 RelatedpartydisclosuresNote14 RemunerationofauditorsNote15 FinancialinstrumentsNote16 FairvaluemeasurementsNote17 AdministrationoffinancialaffairsbyathirdpartyNote18 Section272FairWork(RegisteredOrganisations)Act2009



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.



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.



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.



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).



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.



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



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



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



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



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.



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



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



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.



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.



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.



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



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 - -


Netgain/(loss)fromloansandreceivables 0 0

Availableforsale

Interestrevenue - -

Dividendrevenue - -


Gain/lossrecognisedinequity - -

Amountsreversedfromequity:

Impairment - -

Fairvaluechangesreversedondisposal - -


Netgain/(loss)fromavailableforsale 0 0

Fairvaluethroughprofitandloss

Heldfortrading:

Changeinfairvalue - -

Interestrevenue 5,537 5,431

Dividendrevenue - -


Totalheldfortrading 5,537 5,431

Designatedasfairvaluethroughprofitandloss:


Interestrevenue - -

Dividendrevenue - -


Totaldesignatedasfairvaluethroughprofitandloss 0 0

Netgain/(loss)atfairvaluethroughprofitandloss 5,537 5,431

Netgain/(loss)fromfinancialassets 25,685 19,154

Thenetincome/expensefromfinancialassetsnotatfairvaluefromprofitandlossis$0.00(2018:$0.00).



2019 2018

Note15C:NetIncomeandExpensefromFinancialLiabilities $ $

Atamortisedcost

Interestexpense - -



Netgain/(loss)financialliabilities-atamortisedcost 0 0

Fairvaluethroughprofitandloss

Heldfortrading:


Interestexpense - -


Totalheldfortrading - -

Designatedasfairvaluethroughprofitandloss:


Interestexpense - -

Totaldesignatedasfairvaluethroughprofitandloss - -

Netgain/(loss)atfairvaluethroughprofitandloss 0 0

Netgain/(loss)fromfinancialliabilities 0 0

Thenetincome/expensefromfinancialliabilitiesnotatfairvaluefromprofitandlossis$0.00(2018:$0.00).



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 -



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 - - - - - -



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)



Effecton


$ $

Interestraterisk [+1%] 164 164

Interestraterisk [-1%] (164) (164)[Wherethesensitivityanalysisisnotrepresentativeoftheriskinherentinafinancialinstrument—anentitydisclosesthisfactandthereasonswhy]

Pricerisk

Priceriskisthepotentialforthedeclineinthepriceofanassetorsecurityrelativetotherestofthemarket.Itexcludesmarketrisk,orthepotentialforanentiremarkettogodowninvalue.Assuch,priceriskisthecomponentofinvestingriskthatcanbereducedwithdiversification.



Effecton


$ $

Otherpricerisk - [+0.5%] 128 7,435

Otherpricerisk - [-0.5%] (128) (7,435)



Effecton


$ $

Otherpricerisk - [+1%] 5,267 5,267

Otherpricerisk - [-1%] (5,267) (5,267)



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).

financial report for the year ended 30 june 2019

Documents