FINANCIALS

NOTE 11: PROVISIONS (CONTINUED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOVER 2022

(a) The provision balance of $1,191,127 represents the total annual leave and long service leave employee entitlement payable.

(b) Provision for Long-term Employee Benefits

A provision has been recognised for employee benefits relating to long service leave. In calculating the present value of fut ure cash flows in respect of long service leave, the probability of long service leave being taken is based on historical data. The measurement and recognition criteria for employee benefits has been included in note 1(h).

NOTE 12: OTHER

NOTE 13: KEY MANAGEMENT PERSONNEL COMPENSATION

Key management personnel are those persons having authority for planning, directing and controlling the activities of the entity, directly or indirectly, including any director of that entity. Short-term benefits include salary & fees, superannuation and non-cash benefits.

NOTE 14: RELATED PARTY TRANSACTIONS

Transactions between related parties are on normal commercial terms and conditions are no more favourable than those available to other parties unless otherwise stated. Stephen Hayes is providing coaching services to Talented Support Pathway and his remuneration is estimated to be no more than $1,500 for the season. This is no more than what any other coach is paid.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOVER 2022

Notes To The Financial Statements For The Year Ended 31 October 2022

NOTE 15: FINANCIAL RISK MANAGEMENT

The company's financial instruments consist mainly of cash and cash equivalents, short -term investments, trade and other receivables, trade and other payables and borrowings.

The totals for each category of financial instruments, measured in accordance with AASB 9 as detailed in the accounting polic ies to these financial statements, are as follows:

Fair values of held for trading listed investments are based on quoted market prices at the end of the reporting period.

The fair values of finance leases are determined using a discounted cash flow model incorporating current commercial borrowin g rates.

NOTE 16: COMMITMENT & CONTINGENCIES

There are capital commitments of nil as at 31 October 2022 (2021: nil).

There are contingent liabilities of nil as at 31 October 2022 (2021: nil)

NOTE 17: SUBSEQUENT EVENTS

Other than that disclosed in this report and to the knowledge of directors, there has been no other matter or circumstance th at has arisen since the end of the financial year that has significantly affected, or may affect Football NSW's operations in future financial years, the re sults of those operations or Football NSW's state of affairs in future financial years.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOVER 2022

The directors of the company declare that:

1.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

The financial statements and notes are in accordance with the Corporations Act 2001 and:

(a) comply with Australian Accounting Standards - Reduced Disclosure Requirements; and

(b) give a true and fair view of the financial position as at 31 October 2022 and of the performance for the year ended on that date of the entity.

2. In the directors’ opinion there are reasonable grounds to believe that the entity will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

GILBERT LORQUET DEBORAH CHAPMAN Director Director

Dated: 22 February 2023