Page 15 - Palms-Australia-Annual-Report-2019
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LIABILITIES
Trade and other payables 27,616 112,309
Employee benefits 118,533 111,328
Deferred income 15,440 20,284
TOTAL LIABILITIES 161,589 243,921
NET ASSETS 1,196,965 1,324,104
EQUITY
Reserves 0 18,241
Retained earnings 1,196,965 1,305,863
TOTAL EQUITY 1,196,965 1,324,104
Please note: The information was extracted from the financial statements of Palms Australia for the year
ended 30 June 2019. A complete set of financial statements and Independent Audit Report are available
upon request.
Palms Australia
Directors’ Declaration
30 June 2019
In the Directors’ opinion:
The attached financial statements and notes comply with the Australian Charities
and Not-for-Profits Commission Act 2012, the Australian Accounting Standards –
Reduced Disclosure Requirements and associated regulations.
The attached financial statements and notes give a true and fair view of the
company’s financial position as at 30 June 2019 and of its performance for the
financial year ended on that date.
There are reasonable grounds to believe that the company will be able to pay its
debts as and when they become due and payable.
Signed in accordance with a resolution of Directors made pursuant to sub s. 60.15 (2) of
the Australian Charities and Not-for-Profits Commission regulation 2013.
On behalf of the Directors
Director Director September 2019
