Racing Australia Annual Report 2020

RACING AUSTRALIA ANNUAL REPORT 2020 | 51 Consolidated Entity Parent Entity 2020 $ 2019 $ 2020 $ 2019 $ Note 11: Issued capital Fully paid ordinary shares 10,103,051 10,103,051 10,103,051 10,103,051 Fully paid ordinary shares Racing NSW 3,536,068 3,536,068 3,536,068 3,536,068 Racing Victoria Limited 3,536,068 3,536,068 3,536,068 3,536,068 Racing Queensland 1,818,548 1,818,548 1,818,548 1,818,548 Racing & Wagering Western Australia 454,637 454,637 454,637 454,637 Thoroughbred Racing SA Limited 454,637 454,637 454,637 454,637 Thoroughbred Racing NT Incorporated 101,031 101,031 101,031 101,031 Tasracing Pty Ltd 101,031 101,031 101,031 101,031 Canberra Racing Club Incorporated 101,031 101,031 101,031 101,031 10,103,051 10,103,051 10,103,051 10,103,051 The Company is an unlisted company limited by shares. Fully paid ordinary shares carry voting rights but no rights to dividends. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 Note 12: Key management personnel compensation The totals of remuneration paid to KMP of the company during the year are as follows: KMP Compensation 1,378,013 1,577,388 1,378,013 1,577,388 1,379,013 1,577,388 1,378,013 1,577,388 Note 13: Cash and cash equivalents Cash at Bank and on Hand 5,911,599 3,843,714 5,911,318 3,457,374 5,911,599 3,843,714 5,911,318 3,457,374 Note 14: Right of use assets Non - Current Land & Buildings Right of Use 988,633 - 988,633 - Less: Accumulated Depreciation (174,631) - (174,631) - 814,002 - 814,002 - Additions to the right-of-use assets during the year were $988,633. The consolidated entity leases land and buildings for its offices under agreements of between three to ten years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. The consolidated entity leases office equipment under agreements of less than two years. These leases are either short-term or low-value, so have been expensed as incurred and not capitalised as right-of-use assets.