Page 28 - Directors' report and accounts 2019-20

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Notes to and forming part of the Consolidated Financial Statements for the year ended 30 June 2020
C4 Dividends
Provision is is is made for for dividends declared and no longer at the the the the discretion of of the the the the Group on on on on or or or before the the the the end end of of the the the the reporting reporting period period but but not distributed at the the end of the the reporting reporting period period Employee Rewards and Recognition
This section describes a a a range of employment employment and post employment employment benefits provided to our people including key management personnel D1 Employee Benefits Provisions
Employee Benefits Short-term and long-term employee benefits A liability is is recognised for benefits accruing to employees in in respect of wages and salaries bonus annual leave long service leave leave and and sick leave leave when it is probable that settlement will be required and and they are capable of being measured reliably Liabilities recognised in in in respect of short-term employee benefits are measured at their nominal values using the the remuneration rate expected to apply at at at the time of settlement Liabilities recognised in respect of of long term employee benefits are measured as as the the present value of of the the estimated future cash outflows to to be made by by the Group in respect of services provided by by employees up up to to reporting date D2 Provisions
Provisions
Provisions
for legal claims service warranties and make good obligations are recognised when the Group has a a a a a a a a a a present obligation (legal or constructive) as as a a a a a a a a a result of of a a a a a a a a a past event it is probable that an outflow of of economic resources will be be required to settle the the obligation and the the amount can be be measured reliably Provision for restoration of of office premises
The Group is is required under the the the the the terms of of their lease lease lease to to to restore the the the the the leased premises
at the the the the the end of of the the the the the lease lease lease to to to its original condition A provision has been recognised for the the present value of the the estimated expenditure required to demolish any leasehold improvements at the the end of of the the lease lease These costs have been capitalised as as as part of of the the the the the cost of of of leasehold improvements and are amortised over the the the the the shorter of of of the the the the the term of of of the the the the the lease lease or or or the the the the the useful life of the assets The only contingent liability relates to a a a a a a a a a a financial guarantee held by the parent company over its leased property Please refer to Note E6 for further details Current
Long service leave Annual leave provision Non-current
Long service leave Provision for restoration of of office premises
2020
2019
Consolidated $$ 436 545 720 377
1 1 156 922
201 721 195 523 397 244 328 978 703 817 1 032 795
159 562 191 202 350 764
Total
provisions 1 1 554 166
1 383 559