NOTES TO THE FINANCIAL STATEMENTS
Note 13: Deposits (continued) The practice of receiving member deposits from new stores ceased as a standard approach in November 2018 and has been replaced by a joining fee which is income to the company. Over time as members sell their stores the member deposit balances will be refunded and the incoming members will be invoiced joining fees. In the longer term the member deposit balance is expected to reduce to zero as the amounts are refunded and replaced with income from joining fees. The Current balance of $537,800 represents those balances where the Company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Note 14: Provisions
2021 $
2020 $
Current Annual leave
173,995
201,396
Long Service leave
52,202
102,239
226,197
303,635
Non-Current Long service leave
61,815
37,910
Warehouse restoration costs
100,000
100,000
161,815
137,910
A provision has been recognised for employee entitlements relating to annual and long service leave for employees. In calculating the present value and future cash flows in respect of long service leave, the probability of long service leave being taken is based upon historical data. The warehouse restoration costs is the anticipated cost of restoring the warehouse to original condition at a future period if the warehouse is vacated. Note 15: Other Liabilities
2021 $
2020 $
Current
Conference fees paid in advance by members
23,900
107,600
Other
13,001
13,000
36,901
120,600
GO VITA GROUP LIMITED ANNUAL REPORT 2020-2021 I 59
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