Little Ship Club 2015-15 Annual Report

Little Ship Club Queensland Squadron Notes to the Financial Statements For the year ended 30 June 2015

2015

2014

Note 6: Members' Guarantee The company is incorporated under the Corporations Act 2001 and is a company limited by guarantee. If the company is wound up, the constitution states that each member is required to contribute to the assets of the Club, in the event of the Club being wound up, while that person is a Member, or within one year after that person ceased to be a Member, for payment of the debts and liabilities of the Club, contracted before that person ceases to be a Member, and of the costs, charges and expenses of winding up, and for adjustment of the rights of the contributories, among themselves, such amounts as may be required, not exceeding one hundred dollars ($100.00).

Note 7: Auditors' Remuneration

Remuneration of the auditor of the company for: Auditing or reviewing the financial report

16,000

20,020

Other services

20,020

16,000

16

FS.16 Annual Report 2014–2015

Little Ship Club (Queensland Squadron)