WTLC AnnuAL RepoRT 1 - Wests Entertainment Group

Transcription

WTLC Annual Report 1
Wests’ Board of Directors 2010 - 2011
John McClelland
Anthony Hollis
Maxwell Sharpe
Robert Both
President
Vice President
Treasurer
Director
Alice Edmunds
Dennis Gross
Terry Psarakis
Rod Laing
Director
Director
Director
CHIEF EXECUTIVE OFFICER
Senior Management & Support Personnel
The Executive Management
From Left
Lester Roser: Wests’ Operations Facility Manager
Eileen Smyth: Deputy CEO
Annette Easey: Wests’ Diggers Operations Facility Manager
Back row
from Left
Therese Brodbeck
Leesa Peck
Robyn Wales
Chris Cruckshank
Fiona Ainsworth
Michelle Bullock
Employee Relations Manager
Functions & Events Manager
Compliance Manager
Customer Services Manager
Business Development Manager
Executive Assistant
Front row
from Left
Geoff Shanley
Keith Clark
Graham Menzies
Technical Services Manager
Administrative Services Manager
Customer Services Manager
Absent
Sandy Barnett
Catering Manager
President’s Report
Dear Members,
It is my pleasure to present to the members
of the Wests Entertainment Group, the
club’s annual report for the financial year
ending 30th June 2011. This report is to be
considered at the Annual General Meeting to
be held on Tuesday 29 November at Wests in
Phillip Street.
This year has again been a busy one for the
board and management. Club trading was very
encouraging with yet again another terrific
result.
This year has also seen another milestone
reached for West Tamworth League Club
where the club celebrated 50 years of trading
as a licensed club. The festivities held during
the year were a huge success. Congratulations
to Jon Wolfe and Nicole Murray-Leese who
collected $22,000 and $28,000 respectively
from our $50,000 cash giveaway. Members
are advised to stay tuned as there are more
great promotions planned for the end of the
year.
This year’s results again include a combined
result from Wests and Diggers.
Our combined result recorded an operating
profit before provisions and finance costs of
$2.874 million, which is an outstanding result.
The combined club poker machine profits of
$11.396 million were also pleasing. The Wests
Group had a net turnover of $19.557 million in
the last financial year, a wages bill of $5.054
million, purchases of food and beverages of
$2.513 million, repairs and maintenance
of $183,001, poker machine and payroll
tax of $2.711 million and payments made
to members and guests as gaming prizes,
amenities, entertainment and promotions of
$32.436 million.
Club Treasurer Max Sharpe has done an
excellent job in controlling our finances and
with the continued support of our bankers
Westpac, the Group has achieved solid
financial growth this year.
When you consider the current threat of
the global financial crisis coupled with the
uncertainty of a Federal Government, I know
all members would agree that this year’s result
is one that we all can be proud of.
Members will have noticed that the renovation
program for Wests’ interior is now well
advanced. New furniture for Legends Lounge
and Neros Café has now been installed and
shortly, new furniture for Banjos Restaurant
will arrive. Works have also commenced in
Blazes Auditorium, which includes a new
paint job throughout. This along with new
carpet, painting of Wests’ front façade and
a new multi-level car park are planned for
early next year.
In May, the Group’s continuing pursuit of
excellence saw Wests’ Diggers named the Best
Club Gaming Venue for medium clubs at the
annual ClubsNSW Awards for Excellence.
Our club is seen as a leader and an innovator
by the industry and our standing is a testament
to the dedication of our staff and their
constant quest for excellence in the service
levels provided to our members.
The vision and experience of CEO Rod Laing
and leadership of our specialist managers has
been instrumental in the club’s achievements
for 2010/11.
I thank each of you for your hard work and
dedication.
address is [email protected].
May I also take this opportunity to thank the
board of directors for their continued support
of me as President. Their contributions
throughout the year ensured that our strategic
plan stayed on track.
Sadly, a year does not pass without the loss
of someone near and dear to us. The club
extends its deepest sympathy to our members
who have lost loved ones this year. The club
also lost one of its life members in July of this
year in Norm Young. On behalf of the board,
I would like to extend our sincere condolences
to Norm’s family.
In closing, I thank all members for their
support and patronage. This club belongs
to you, our members, and I urge you to look
after it and treasure it.
Finally, I would like to remind members that
voting for the board of directors, this year
there are two positions to vote for. Voting will
commence on Friday 18 November. Voting
is a right of all members and we encourage
you to use your voice to guide the future of
your club.
I look forward to seeing many of you at the
Annual General Meeting.
Each year the Wests Group plays a major
role in financially supporting your community. This year is no exception as we supported
a total of 122 organisations. Sadly this
continued support could be undermined by
the Federal Government’s proposed poker
machine mandatory pre-commitment scheme. This scheme is simply not viable and does not
address the real issues of problem gambling. In fact the scheme will place huge financial
burdens on all clubs, particularly ours. I
urge all members who have the opportunity
to express their concerns about the scheme to
independent Member, Tony Windsor. I know
Tony is a big supporter of the club industry
and I know he would welcome your comments.
On the topic of comments, we welcome your
comments, suggestions or concerns. You may
contact us either by mail or email. Our email
John McClelland
President
Chief Executive Officer’s Report
Dear Members,
On behalf of our board of directors, management
and staff, I thank you for your continued patronage
and loyalty to our clubs. As another financial year
comes to an end, it is my pleasure to submit the
50th annual report and balance sheets for the
year ended 2011.
The 2011 financial report highlights a positive
financial result for the Wests Entertainment Group. This is a terrific result which has occurred during
a difficult period for clubs in general.
This report has been prepared in accordance with
the Australian International Financial Reporting
Standards (AIFRS). This is a full financial report,
in accordance with the Act, and not a concise
version.
This year’s result has been achieved with a
significant amount of work performed on cost
containment.
Financially, the Wests Group has recorded a very
good result. An operating profit of $2.874 before
provisions and finance costs and a net profit of
$1.385 million was realised this year.
This year, Wests’ trading has been outstanding,
resulting in an operating profit of $2.391 million
before provisions and finance costs, while certainly
a highlight has been the result of Diggers returning
an operating profit of $482,858.
The Wests Entertainment Group brands have
earned a loyal following throughout our rich
50-year history. We certainly appreciate that
loyalty and we have great respect for our members’
feedback. At Wests we believe feedback is
priceless.
I would like to thank the Wests board, headed by
President John McClelland, which has worked
tirelessly throughout the past year.
Our Wests Group team members are responsible
for creating a great member experience. Our
success has been dependent on doing what we
have done best from the very beginning – delivering
great products and excellent service.
While these basic premises are easy to understand,
the changes needed with the Wests Group to
inspire renewed loyalty and generate sustained
profitability are not easy, but they are the key to
our future success.
I have continually stated that the Wests Group is
blessed to have team members who are dedicated
and have the ‘spirit to serve’. Thanks to them, we
have had a very successful year.
The Wests Group strives to provide its managers
with the best tools available, including technology
and equipment. These resources all help in
streamlining their job and allow management to
further support staff. As well, the management
team is responsible for delivering the board’s
strategic plan.
My special thanks to Deputy CEO Eileen Smyth,
and Executive Assistant Michelle Bullock, for
their ongoing support and to the entire executive
management team who have done themselves
proud.
While it all starts when the member walks through
the front door, what happens in the back office is
the key to providing the best member services. The
Wests Group also pays tribute to all the behindthe-scenes staff. Sometimes they are overlooked,
but our organisation could not run without them.
These include our chefs, wait staff, cleaners, cellar
and administration staff. I take my hat off to the
entire team.
I say it all the time: ‘our people make the
difference’. I know that talented, committed team
members and managers are the most important
part of the equation.
The club industry is again facing a period of
uncertainty. The changing political environment
has placed at peril the long-term viability of
many clubs. The latest threat to clubs follows
the announcement by Prime Minister Julia Gillard
of a policy commitment on gaming machines to
Tasmanian independent MP Andrew Wilkie to
support a Labor minority government.
This commitment would see the Labor government
introduce a maximum daily withdrawal of $250
in clubs. As well, the agreement with Wilkie
would see the introduction of compulsory precommitment technology by 2014. This means
that players would need to acquire a licence before
being permitted to play a gaming machine.
Both commitments have been made with the intent
to reduce problem gambling. It is my view that
neither measure will do what is intended, but
instead we will see untold damage to an industry
that supports 80,000 employees and entertains
10 million members nationally. My hope is that
the now-powerful independents will vote this
legislation out and leave it in the policy dustbin
where it belongs.
Finally, I cannot end this report without expressing
once again, my appreciation to all members, who
continue on a daily basis to support our clubs.
Our exceptional history is certainly worth
celebrating. I am fortunate to be in an organisation
that has received so many accolades over the
years and it is my sincere hope that we will be
able to continue this tradition – that has been our
cornerstone since day one. To focus on looking
after our members, their club and the community
we serve.
I trust you will see that this report confirms the
commitment of Wests to its members and to the
wider community.
I look forward to seeing you at the Annual General
Meeting on Tuesday, November 29.
Rod Laing
Chief Executive Officer
Treasurers Report
Dear Members,
It is my pleasure on behalf of the Board of
Directors to submit the annual Financial
Reports for the year ending 30 June 2011.
The twelve month period has resulted in the
Group recording a net profit after provisions
and finance costs of $1,385,811.
Shown are graphs of our income and
expenditure and our profits before provisions
and finance costs.
The Group had $19,557,523 in income
compared to $19,019,331 last year.
This was an increase of $538,192 or 2.82%.
Expenses in 2010/11 were $16,683,079, an
increase of 3.52% on the previous year.
The profit before provisions and finance costs
for the two clubs combined was $2,874,443
compared to $2,904,430 last year.
West Tamworth League Club made a profit
of $2,391,585 before finance costs and
provisions and Wests Diggers made a profit
of $482,858.
The net profit after all costs were deducted
was $1,293,327 for the Leagues Club with
Wests Diggers making $92,484.
It is with much pleasure that I announce from
the date of the AGM the Wests Entertainment
Group will be debt free. It has been a long
road but it is very satisfying to achieve this
long term goal.
This year we are presenting the Group’s full
2011 audited annual Financial Report and
you will find this report in the pages following.
I will again be delivering a detailed financial
report at our Annual General Meeting on
Tuesday 29 November 2011. Questions
regarding the report will be accepted from
the floor on the night however, it would be
appreciated if any questions could be put in
writing and submitted to the club Secretary
no later than Monday 21 November 2011.
West Tamworth
Wests
League Club
Diggers
Sales
3,915,258
Rendering Services
Other Income
Combined
Last Year
2,259,753
6,175,011
6,079,584
9,082,274
2,314,418
11,396,692
10,963,056
1,491,970
493,849
1,985,819
1,976,691
14,489,502
5,068,020
19,557,522
19,019,331
Cost of Goods Sold
1,661,154
851,517
2,512,671
2,511,639
Operating Expenses
8,048,389
2,903,536
10,951,925
10,537,551
Other Expenses
1,570,090
553,716
2,123,806
2,041,503
818,284
276,393
1,094,677
1,024,208
12,097,917
4,585,162
16,683,079
16,114,901
2,391,585
482,858
2,874,443
2,904,427
Income
Expenses
Admin & Overhead
Expenses
Profit before
provisions &
finance costs
Maxwell Sharpe
Treasurer
HISTORY / 50th Anniversary
January 19th
1980:
Locomotive Hotel publican Fred Thompson
topped sales with 244.5 kegs consumed, up
from the hotel’s usual 75 kegs per week.
Beer prices will rise from
next Friday – Tooths
Brewer y. Wholesale
price of the 18-gallon
keg would cost $58.04,
an increase of $1.67.
The wholesale price for
bottles will increase by
35c to $8.32 a dozen.
Cans will increase by
39c to $9.30 for a twodozen pack. Tooheys was
still considering price
increases.
June 2nd 1981:
June 5th 1979:
February 15th 1980:
Stan Cole was president, Ken Chillingworth
secretary-manager. Ken Chillingworth suffered
a stroke last Friday and is recovering in TBH.
Club directors assisted with the organisation
of today’s Northern Division vs Great Britain
match at Scully Park.
Threatened closure of all major clubs in town
due to Liquor Trades Union members voting
to strike in support of wage rise demands.
A 72-hour strike was recommended by LTU
general secretary John Morris. Local members
divided on issue.
August 17th 1979:
February 16th 1980:
WTLC to begin $100,000 extensions to club
by month’s end. Auditiorium extensions will
double its present size. An extra bar and new
toilets will be built as well as a bigger stage
with accompanying toilets and dressing rooms.
This project is part of a $230,000 expansion
program. Earlier the club had spent $80,000
on a gymnasium, squash court and sports
centre and resurfacing the four-court tennis
club. It’s already begun work on a $50,000
project to provide an additional sporting oval
and amenities block in Kent St.
Strike called off by LTU. John Morris cancelled
plans to visit the city. Strong opposition from
Tamworth to any suggestion of an extended
stop-work.That opposition influenced the state
body to back down on its militant approach
to pay negotiations.
December 1st 1979:
Record gross profit of more than $1 million
in the year ending September 30. Big money
spinner for the year was proceeds from disco
nights, $32,000, which was 10 times as much
as the previous year. Total members 10,218;
5225 members, 3689 associate members,
658 junior members and 646 junior associate
members.
December 20th 1979:
Club TAB comes to WTLC next Saturday. The
Club TAB operation was a first for Tamworth.
The Club TAB will operate on Wednesday
and Saturday race days and will soon include
Melbourne, Brisbane and local TAB races.
October 14th 1980:
Extensions to WTLC worth $300,000 expected
to be finished by Christmas. Expansion means
1000-seat capacity in auditorium. Existing
dance floor used for seating and a new sunken
floor, twice its size,
included in extension.
Ken Chillingworth said
the club should be able
to accommodate large
variety acts.
January 28th
1981:
Beer sales during
the festival took a
gigantic leap. More
than 830 kegs of beer
were consumed at two
Tamworth clubs (the
Workies and Leagues)
and s even hotels.
Women, the disabled, migrants and Aboriginals
are given the right to full membership in all
registered clubs.
December 6th 1982:
If Harold Whitten doesn’t turn up at the
WTLC at 5pm each day, the staff know he
must be ill or out of town. Seventy-year-old
Harold has been the club’s best patron since its
establishment. On December 5, 1982, Harold
Whitten became the proud owner of a bar
stool with a silver plate inscribed with his
name. As a truck driver, Mr Whitten provided
his truck free of charge for the cartage of
materials. He has been a club member since
it opened.
December 21st 1982:
Tamworth Club Managers’ Association had
a special dinner to thank Ken Chillingworth
for his 30 years-plus service. A picture was
taken by The Northern Daily Leader, shown at
the dinner were: Cliff Pennells (Workies), Ron
Harrison (Golf Club), John Ohlin (Services),
Mike Mooney (RSL), Ken Everett (TCMA
pres), and Ken Chillingworth.
June 30th 1984:
Peter Buck was president and secretary
manager was T. Siejka, board members
included; Maxwell Ison, Ray, Carrall, Lawrence
Hardcastle, Dennis Condon (T), Robert Cork,
Geoffrey Goodman, Dennis Gross, Earl Hogno,
Peter Johnson, John Sinclair, Patrick Smyth,
Leonard Walters & Kenneth Young.
June 14th 1989:
August 21st 1991:
Registered clubs can expect a
smoking ban. WTLC sec-mgr
Ken Thompson said although
non-smoking areas had not yet
been discussed with his board,
other measures of reducing
cigarette smoke problems were
being discussed. The club was
installing a new air-conditioning
system which filtered smoky air.
WTLC record profit of more than $400,000.
Annual turnover of $6.3 million from June
1990 to May 1991. Club membership stands
at 10,800, compared to 3500 five years ago.
More than $1.6 million paid in wages to 121
staff; $527,000 spent on entertainment; more
than $44,000 spent on sporting activities;
members paid almost $105,000 in fees; $1.84
million taken through gaming machines.
June 30th 1989:
Battle on for drinking dollar. WTLC sec-mgr
Rod Laing said gone are the days when you
could just open the door and hordes of people
would come running in. Clubs have to have
a lot of promotions and gimmicks to keep
people happy now. Blazes was pumping out
the hits with high-profile acts like Transvision
Vamp, Jimmy Barnes and Jenny Morris. Under
25’s were filling the club coffers while the
over 25’s were at home paying off mortgages.
Meanwhile, the Workies had called in receivers
for the second time.
Graham French was president
and secretary manager was Rod
Laing, board members included;
John McClelland, John Sweeney,
Max Ison, Robert Cork (T),
Lawrence Hardcastle, Ian Alford,
Robert Green, Dennis Condon,
Peter Blom, Dennis Gross & Max
Sharp.
March 7th 1986:
Renovations at the club: re-opening auditorium
as “The Venue of the North West”. Members
can now enter from a new doorway on the
Phillip St side and from Friday, March 14, the
venue will present top- class Sydney bands on
a weekly basis. The revamped auditorium was
christened on Friday, March 14 with admission
just $3 for members and $4 for guests. Three
Sydney bands to entertain – Coup De Gras,
The Kents and The Blusicians. Ken Thompson
was WTLC sec-mgr.
June 30th 1986:
September 14th 1991:
November 23rd
March 16th 1993:
1989:
Tamworth clubs win bid to host 1990 RCA
AGM. 2000 delegates expected to attend the
meeting, trade fair and seminars – held at
WTLC and on Scully Park oval. Other clubs
involved would hold functions, seminars and
the annual dinner between them.
October 15th 1990:
Club Keno unveiled at WTLC (on Saturday).
Not expected to be installed until next June
(1991).
Bob Cork was president and secretary
manager was Ken Thompson, board members
included; Maxwell Ison, Percival Williamson,
Eric Carrall, Dennis Condon (T), Frank Brent,
Graham French, Dennis Gross, Lawrence
Hardcastle, John McClelland, John Sinclair,
John Sweeney, Leonard Walters & Kenneth
Young.
January 7th 1989:
WTLC ranked #31 in top 100 watering holes
in the state. In 1986 it was #52, making it the
north’s biggest mover of the year (jumping
up 21 places).
April 14th 1989:
Bogart’s Bar and the Casablanca Lounge at
WTLC are the brainchild of WTLC assistant
manager Rod Laing. $420,000 redevelopment
has turned an old, infrequently-used bar area
into a bar and lounge to appeal to all members
– particularly the ladies.
WTLC searching for candidates to contest
Bride of the Year, on Sunday, March 28. WTLC
marketing chief Jack McGilvray said any bride
married anywhere during the past 12 months
could enter.
May 8th 1993:
Outfits worn by TV stars, pollies’ wives,
country stars and fashionable mums will be on
the catwalk on Mother’s Day. WTLC staging a
Fashion They Wore Before They Were Mothers
parade tomorrow (May 9) from 3pm.
July 29th 1994:
A $4.5 million redevelopment project is
now under way at WTLC. Will take place in
five stages, with the first and second stages
completed by December (94); third stage by
early 1995; Rod Laing said first three stages
will cost $2.47 million. Stage one includes a
new dining room and coffee/fine pastry shop as
well as a new central bar surrounded by lounge
and cocktail areas. Stage two revolves around
the Vegas gaming centre, a large lounge and
cashier’s box and money handling centre; stage
three will centre on the front foyer and facade.
Stages four and five, due for completion in
1996 and 1998 respectively, will see provision
of a sportspersons’ bar and a combination
function and conference centre.
June 3rd 1995:
WTLC will next Thursday celebrate the opening
of its $2.45 million refurbished premises with
a night of sports stars. Former Test cricketer
Doug Walters, rugby union international John
Lambie, SMH columnist Roy Masters and
Australian polocrosse caption Lesley Jeffriess
will speak at the dinner. Former Australian
RL internationals Noel Cleal, Ray Branighan,
Lew Platz, Steve Martin and maybe Graham
Eadie will attend. English league stars Mick
Adams and Ken Noble are also attending.
Tamworth sports stars were also prominent
in proceedings – Commonwealth Games gold
medallist Louise McPaul and Australian
javelin champ and record holder Andrew
Currey were invited, along with their coach,
Peter Lawler. Former test cricket spin wizard
John Gleeson 1956 Melbourne Olympian Mike
Moroney and former Australian RL greats
Jim Leis were invited. Clay target shooting
star Clive Barton, Australian tent-pegging
stars Laurie Andrews and Wayne Biffin and
hockey stars Matthew Smith, Michael York
and Seoul gold medallist Kim Small were
invited. Dennis Condon said a maximum of
500 tickets would be sold to the prestigious
event. Tickets were $20 each.
October 3rd 1996:
A new law was passed by Bob Carr that
minors’ entertainment allowed for alcohol-free
entertainment in clubs and pubs and junior
membership of registered clubs.
January 29th 1997:
Taking a huge risk with a big investment
during the Country Music Festival has paid
off for WTLC. The club’s bold approach to
entertainment and expansion to include an
outdoor family-friendly country fair, had taken
festival profits to hundreds of thousands of
dollars ahead of last year.
February 15th 1999:
WTLC begins a $1 million upgrade to the
front entrance. The new facade was designed
to complement the club’s interior plus an
upgrade of the four car parks. The next stage
of redevelopment was the construction of a
sports bar and function room. The sports bar
was a combination bar and lounge decorated
with sporting memorabilia, live sporting events
on big screens and multiple sports betting
facilities.
WTLC seeks approval from council for nine
days of outdoor entertainment between
7.30am and 11.30pm – and then cut back
the time one hour each day to a 10.30pm
close in deference to nearby neighbours. From January 20 to 22, there would be
three temporary structures in place. This is
the fourth time the club has gone outdoors.
The main reason for outdoor demand was the
closure of the Services Sports Club putting
extra pressure on WTLC.
April 11th 1999:
Dennis Condon dies in Newcastle from a
heart attack whilst attending a club function.
“Condo” was a great loss to his family, his
WTLC family and to the Tamworth community
in general.
June 30th 1999:
John McClelland was president and chief
executive officer was Rod Laing, board
members included; Robert Green, Colin
Jeffriess, Robert Newlan, Maxwell Sharpe (T),
Robert Both, Dennis Gross, Jack McGilvray,
Kevin O’Toole, Peter Sauer, Eric Smiles, Garry
Stocks, John Sullivan & John Sweeney.
July 20th 1999:
WTLC CEO Rod Laing said the club had
measures in place for harm minimisation and
to deal with problem gambling. “The RCA is
serious about confronting problem gambling
and its impact on communities and families.
It has spent a lot of money on a responsible
gaming policy that will be implemented in
every club later this year”. Mr Laing voiced
his concern about the potential for gambling
problems developing through internet gaming.
December 27th 1999:
WTLC has applied to TCC to relinquish its
lease on Scully Park No. 2 oval. The club
advised its lease was for a five-year period
until July 17, 2000, but club directors had
resolved to hand back the ground, which is
zoned as community land. The club said it
would still be happy to maintain the ground,
free of charge, for the community use and to
cover costs of electricity and water. It would
agree to coordinate, in conjunction with TCC’s
Don Willis, all ground bookings for the oval
– affecting an annual saving to the club of
$6000 in rent.
December 29th 1999:
As well as relinquishing No.2 oval, WTLC
has disassociated its from No.3 (Ken
Chillingworth) Oval. The club wanted to get
rid of the oval as Pirates Rugby Club wanted
to take it over. WTLC would be given first right
to reacquiring lease should Pirates terminate
their lease.
January 1st 2000:
Wests initiates a new neighbourhood
partnership program. Eric Smiles was
appointed neighbourhood liaison officer, to
raise any issues with the club on behalf of
neighbours.
May 22nd 2000:
Wests wins best club entertainment venue at
ClubsNSW Awards for Excellence. Award
presented to John McClelland and Rod Laing at
the Bayside Banquet Hall, Sydney Convention
Centre, Darling Harbour last Friday night.
Wests was a finalist in seven categories – most
improved club, encouragement of sport, best
club training and staff development, best club
entertainment venue, financial achievement,
community service and club of the year. Rod
said “we have been chasing one of these
awards for the past 10 years and they’re not
easy to win. It has taken years of teamwork
and commitment to achieve this ... everybody’s
involved from the directors and staff to our
members ... it’s not only good for the club, it’s
good for Tamworth as well.” Wests also won
a quality business award for Nero’s Coffee
Lounge and a tourism award in the Big Sky
Country Awards.
June 7th 2001:
November 26th 2002:
Representatives of both boards meeting today
to discuss amalgamation. It could be weeks or
months before a decision is made, Mr Laing
said.
Court okays merger of clubs. A Sydney court
yesterday (25/11) cleared the way for the
merger. Both CEO’s were in the licensing
court when the magistrate gave the go-ahead.
“The notices will go out for the extraordinary
general meeting on December 22, to be held in
conjunction with the AGM and should we gain
75% acceptance of the concept, it’s a mere
formality then,” Mr Mooney said. “Given that
at the last meeting, 97.50% were in favour,
I don’t see why this is a consideration. It’s
all systems go and Tamworth is the winner.”
May 12th 2001:
August 30th 2001:
WTLC a finalist in seven categories of
ClubsNSW Awards for Excellence in best
club entertainment venue, most improved club,
financial achievement, community service,
best club training and staff development, club
of the year.
Wests’ board members voted unanimously last
night (29/8) to proceed with the proposed
merger with Tamworth RSL. A due diligence
review carried out by Lawler Partners
recommended to Wests’ board that merger
proceedings should go ahead – with certain
conditions. Treasurer Max Sharpe said the
consultants found the club was in a sound
position to commit to the merger, although he
saw the acquisition of the RSL as a separate
entity.
June 2nd 2001:
WTLC took out the financial achievement
award.
June 5th 2001:
Max Sharpe collected award for club, paid
tribute to finance manager Eileen Smyth,
who played a huge part in the win. Wests
was one of four clubs to win financial kudos
awards – theirs in group three – for clubs up
to 18,500 members or 31-85 employees. Mr
Sharpe said this year the club would make in
excess of $1.5 million profit, compared with
$1.5 million last year and $1.35 million the
year before.
June 5th 2001:
It was first revealed in The Leader by journalist
Anna Rose that WTLC and Tamworth RSL
may be considering a merger. RSL CEO Mike
Mooney would not confirm. Meeting scheduled
for Thursday.
December 7th 2001:
WTLC board of directors led by example at
the launch of the ClubsNSW Club Directors’
Institute by signing up the whole board as
members of the newly-formed body.
November 14th 2002:
Seven of nine board members were re-elected
at the AGM. From 8500 members, 310 cast
their vote and 63 attended the meeting. John
McClelland and Max Sharpe topped the poll.
The club voted in favour of pensioners being
given full membership for $9 (compared with
the normal $12) and for the first time, a
social membership card would be available to
infrequent visitors to the club. Social members
would have no voting rights but would be
eligible for member discounts.
On December a liquidator would be appointed
to liquidate the RSL’s assets to hand over
to WTLC after which Wests will take over
management under the new name of Wests’
Diggers Club. Mr Laing was delighted at the
comments made by the NSW Police Service
State Crime Command, regulated industries
section, via a financial report prepared for the
Liquor and Gaming Director and the Gaming
and Racing Department. In the six-page
document tendered to court, investigative
account Chris Stavenhagen predicted the
outcome would be “an outstanding success”.
“The management team of Wests has
conducted an extensive due diligence regime
in regard to the long-term viability of the
RSL over a period of six months. This has
given the team an insight into what could
be done to improve the club and the costs
involved. The processes undertaken by the
team and the resultant business plan could be
used as a model for all clubs contemplating
an amalgamation with another club. The
strategies and procedures used in this process
appear to be soundly based in all respects and
the combined venture should be an outstanding
success”. Mr Laing said the RSL was going
to need support from its membership for the
merger to proceed, and it would be business
as usual until December 22. “At that point,
Wests will take over management of the club
and an operations manager will be appointed
to be on deck at that venue,” he said.
December 2nd 2002:
New levels of entertainment are taking shape
at WTLC in the form of $1 million worth
of improvements. Much of the work will be
completed by Christmas, and the remainder
by March 2003. Builders have installed a
comprehensive system of insulation to the
rear wall of Blazes auditorium, and the bar
will be moved back into the car park area
on the Park St side of the club. A new stage
has been built in Legends Bar and relocated
to the wall near Blazes, but with the new
insulation and sound proofing, there should
be no conflicting noise problems, which we’ve
experienced in the past, Mr Laing said. In other
renovations, the children’s entrance to Banjos
family restaurant, is being transformed into
new function rooms and two new offices, but
as a temporary measure during the festival, it
will become an Irish bar set up by Carlton and
United Breweries. A new timber deck has been
added to Banjos allowing additional space for
50 diners outside the restaurant, overlooking
Scully Park No.1 Oval. New decks would be
added in coming months. The cellar has been
extended the length of the club, improving
facilities no end in that area, and the TAB and
bottleshop are in for a facelift, which should
be completed by March. Banjos is also in for
some changes – remodelling of the kitchen
and restaurant area. Once the merger with the
RSL went ahead on December 23, members
would see a general “tidy up” taking place
immediately, and a total refurbishment of the
Kable Ave facility.
December 12th 2002:
Christmas was made a little brighter for a
Tamworth family who’d lost everything in a
house fire early in November. Staff donated
a fully decorated Christmas tree and a gift
hamper for the Davis family, whose Boronia
Dr home was gutted by fire.
December 28th 2002:
Eileen Smyth appointed operations manager
of Wests’ Diggers, and Chris Cruickshank
supervisor. “New accounting procedures
began being phased in at Wests’ Diggers from
Monday, December 23, which will help us
print out reports quickly,
so we know just how
we’re placed financially,”
Eileen said. New signage
has not yet been erected
at the Kable Ave club, but
would happen shortly. No
major upgrading would
be carried out prior to
the CMF in January, but
members should begin
to see cosmetic changes
soon. New uniforms will
soon be launched, with
the same colours used at
both clubs.
May 12th 2003:
WTLC a finalist in
eight categories of the
C l u b s N S W Aw a r d s
for Excellence –
responsible ser vice,
asset management,
financial management,
human resources,
marketing, promotions
a n d e n t er t a in m e n t ,
community service and
a contender for club of
the year.
May 31st 2003:
WTLC has won club of the year (medium-sized
club); responsible service; marketing; financial
management; promotions and entertainment.
June 19th 2004:
Wests made the decision to can all outdoor
entertainment for the 2005 CMF due to
the proposed state government gaming tax,
earlier festival dates and the date change of
the Golden Guitar Awards. “That’s not to say
we won’t be having big stars here, because
we will. Lee Kernaghan, Adam Harvey, Beccy
Cole, Gina Jeffreys and Melinda Schneider
have all been locked in to perform in Blazes...
it’s just that the prohibitive cost of erecting the
hoeckers, installing air-conditioning and the
costs associated with those artists, means we
need guaranteed traffic flow for the 10 days
of the festival, not just one or two days.” He
said the cost of erecting and installing airconditioning and a PA system in the hoeckers
was in the vicinity of $200,000 and when you
add a $5000 to $20,000 performance fee
for an artist, the risk factor proved too high.
July 12th 2004:
WTLC has donated $6500 to the Tamworth
branch of Asthma Foundation of NSW.
Asthma afflicts one in four children and one
million school days are lost with students away
from the classroom due to asthma.
December 9th 2004:
Clubs being hit with a double whammy –
smoking bans and higher pokie taxes and
has asked for the government to give them
a fair go.
May 28th 2005:
WTLC was a frequent visitor to the podium
at the ClubsNSW Awards for Excellence at
Darling Harbour Convention Centre last night
(27.5) . WTLC claimed three awards – best
club gaming venue, outstanding financial
management and best club entertainment
in the medium clubs category. ClubsNSW
chairman Peter Newell said Wests’
commitment to responsible gambling was
well-known throughout the club industry and
made them a deserving winner of the best
gaming venue category.
August 15th 2005:
A Northern Daily Leader survey of members
said they would support the WTLC board
banning smoking in the new Diggers club.
November 8th 2005:
February 28th
2009:
Channel Ten’s wacky weather man,Tim Bailey,
unveiled the new-look Wests’ Diggers to his
national TV audience in a series of segments
leading up to the big reopening of the Kable
Ave club. A Mexican mariachi band was
playing and cocktails were flowing as men,
women and children poured in to have their
first look at the totally transformed club.
Every drop of water saved is
precious and doing its part is
West Tamworth League Club,
after installing a rainwater
harvesting system capable of
holding more than 600, 000
mega litres.
November 9th 2005:
April 16th 2009:
For the big moment on November 8, Tim
Bailey was joined on the red carpet by country
music stars Adam Brand, Gina Jeffreys, Adam
Harvey, Beccy Cole, Aleyce Simmonds, Katrina
Burgoyne and the legendary Smoky Dawson,
who was on hand to unveil the restaurant
named in his honour, Smoky’s Bar and Grill.
The Hats off Festival is set
to go off this year with a star
studded line up at Wests and
Wests’ Diggers. These two
clubs are the first venues in
Tamworth to lock in their
program for the annual event.
November 10th 2005:
Tim Bailey’s three days of outside broadcasts
wrapped up last night outside Wests’ Diggers.
It was a pretty sporting moment as Scores
Sports Bar was given the once over by former
Kangaroos five-eighth Laurie Daley and
special guests.
June 22nd 2007:
St. Vincent de Paul received a timely financial
boost to their annual winter appeal thanks to
a recent donation from Wests. Wests president
John McClelland said St Vincent de Paul is
only one of the first community groups to
receive a helping hand by way of a financial
donation from the club this year.
‘We help many charities through our grant
program’, he said.
September 3rd 2007:
Two months since NSW pubs and clubs went
smoke – free, the difference has been felt right
across the board, but it’s not all doom and
gloom by any means.
Wests Entertainment Group chief executive
officer Rod Laing said in some quarters the
effects had been evidenced with less patronage,
but on a positive note, there were lots of new
faces enjoying the clearer air inside Wests
and Wests’ Diggers.
The Wests Entertainment
Group Hats Off programme
includes traditional country
roots through to modern
Australian humour.
April 25th 2009:
Thommo’s Two Up has
become a well established
t r a d i t i o n a t We s t s
Entertainment Group but
not many people know the
man behind the brand.
on November 1 a month earlier than previous
years and the demand was there.
For the last decade the West Tamworth
League Club, and in more recent times Wests’
Diggers, have facilitated Thommo’s Two Up,
named in honour of Tamworth identity Ken
‘Thommo’ Thompson.
Ticket sales have increased by 25 percent from
2009 figures, and the number of tickets sold
has jumped by 30 percent.
June 30th 2009:
June 10th 2011:
John McClelland was president and chief
executive officer was Rod Laing, board
members included; Jim Cox, Max Sharpe (T),
Robert Both, Anthony Hollis, Alice Edmunds
& Dennis Gross
July 23rd 2009:
Tourists to Tamworth are set to benefit
from a new service being introduced by the
Wests Entertainment Group. A courtesy bus
will now be operating seven days a week,
collecting passengers from a variety of
accommodation houses and delivering them
to two of Tamworth’s leading entertainment
venues, the West Tamworth League Club and
West Diggers.
January 9th 2010:
West Tamworth League Club’s impact on the
city’s water supply will be cut significantly in
a few weeks when two large rainwater tanks
are hooked up to its ablution system.
The Wests Entertainment Group, along with
other venues, has begun the countdown to
the 2010 Country Music Festival. The Wests
Entertainment Group started selling tickets
The West Tamworth League Club starts the
50th anniversary celebrations - 50 Years in
50 Days to mark their 50th birthday. The
Phillip Street complex is one of the biggest
clubs operating in the North today with more
than 10, 000 members.
July 6th 2011:
Jon Wolfe, of Tamworth, is still in shock
after winning the huge $22, 000 jackpot last
Friday night as part of the 50th anniversary
celebrations for West Tamworth League Club.
August 5th 2011:
Nicole Murray- Leese has 28, 000 reasons to
smile. Last Friday night Nic and her friends
headed to Wests’ Diggers for the 50 years in
50 days promotion, that night Nicole won
$28, 000 in the members promotion.
Wests In The Community
Anglican Counselling Service
Life Education Australia
Wests Lions Junior Rugby League
Sunnyfield
Nazareth Care Tamworth
Tamworth Rural Referral Hospital
The Wests Entertainment Group believes
that by responding to community needs and
working in partnership we can contribute
toward making communities where we do
business better places to live and work.
Here are some of the community groups that
Wests have contributed to this year.
Guide Dogs NSW/ACT
The Salvation Army
War Widows Guild of Australia
North West Vietnam Veterans
Northern InlandAcademy of Sport
Team Member of the Month
July 2010
August 2010
Robyn Wales
Maria Edmonds
November 2010
December 2010
September 2010
October 2010
Trent Madams
Danny Tyrrell
January 2011
February 2011
Leesa Peck
Zenitra Stacpoole
Verna Mackay
Trent Madams
March 2011
April 2011
May 2011
June 2011
Dianne Martin
Colleen Goodchild
Linda Coupe
Samantha Wood
Directors Report
For the Year Ended 30 June 2011
Directors
The names of the directors in office at any time during, or since the end of, the year are:
Names
Position
John McClelland
President
Anthony Hollis Vice President
Maxwell Sharpe Treasurer
Robert Both Director
Alice Edmunds Director
Dennis Gross Director
Terry Psarakis Director Appointed 23/11/10 James Cox Vice President Ceased 23/11/10
Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.
Company Secretary
Mr Rodney John Laing held the position of the company secretary at the end of the financial year.
Principal Activities
The principal activities of West Tamworth League Club Limited during the financial year were:
- Operating a Licensed Club including the activities of liquor, gaming, catering, sports.
- Providing facilities for members.
No significant change in the nature of these activities occurred during the year.
Objectives and Strategies
Objectives
The short-term objectives of the Club are capital improvements to facilities and the enhancement of the customer experience through products
and services. The company strives as a matter of priority to be a responsible provider of products within the community.
The long-term objectives of the company are to provide facilities and entertainment for its members and support to the wider community
through provision of amenities for sport and recreation. The company through its main charter assists in the promotion of rugby league and
through its memorandum of amalgamation supports the traditions of the RSL movement.
Strategies
The strategies to meet the objectives are centred on maintenance of existing operations with the development of new enhanced facilities
and amenities.
Core activities went to the consistent provision of service and entertainment to the membership and community support.
The company regularly measures its performance through budgetary control and individual KPI’s placed on projects or areas of operations.
Monthly the Club benchmarks its performance including EBIDARD against other Clubs through Club Data On-Line.
Director Information
Name
Position
Qualifications Experience
John McClelland
President
Retired 25 years as Director
Anthony Hollis Vice President
School Support Learning Officer
8 Years as Director
Maxwell Sharpe Treasurer
Company Director 17 years as Director
Robert Both
Director
Dental Technician
13 years as Director
Alice Edmunds Director
Retired 6 years as Director
Dennis Gross Director
Retired
6 years as Director
Terry Psarakis Director
Accountant
1 year as Director
Meetings of Directors
During the financial year, 12 meetings of directors were held. Attendances by each director during the year were as follows:
Eligible to attendNumber attended
John McClelland
12
12
Anthony Hollis 12 10
Maxwell Sharpe 12 11
Robert Both 12 12
Alice Edmunds 12 11
Dennis Gross 12 11
Terry Psarakis 8
7
James Cox 4
4
Incorporation and Member’s Guarantee
The Club is incorporated under the Corporations Act 2001 as a company limited by guarantee. If the Club is wound up, the constitution
states that each member is required to contribute a maximum of $4 towards meeting any outstanding obligations of the club. At 30 June
2011 the number of members was 20,506 (2010: 20,770).
Auditor’s Independence Declaration
A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out at page 5. Signed
in accordance with a resolution of the Board of Directors:
Director: John McClellandDirector: Maxwell Sharpe
Dated this 31st day of August 2011
Auditor’s Independence Declaration
Auditors Independence Declaration under Section 307C of the Corporations Act 2001
I declare that, to the best of my knowledge and belief, during the year ended 30 June 2011 there have been:
(i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and
(ii) no contraventions of any applicable code of professional conduct in relation to the audit.
Paul Cornall
Partner
31 August 2011
127 Marius Street, Tamworth, NSW 2340
p +61 2 6763 0100
f +61 2 6766 8538
e [email protected]
ABN 24 935 296 225
Statement of Comprehensive Income
Note
Sales revenue
2
Cost of sales
Gross profit
Other income
2011
2010
$
$
19,522,640
18,987,694
(5,704,328)
(5,631,045)
13,818,312
13,356,649
34,692
31,635
(229,883)
(226,177)
2
Marketing costs
Occupancy costs
(305,245)
(271,676)
Administrative costs
(9,468,284)
(9,040,613)
Entertainment costs
(883,851)
(911,608)
(1,486,380)
(1,471,811)
(93,548)
(209,294)
1,385,813
1,257,105
-
-
1,385,813
1,257,105
Other expenses
Finance costs
3
Profit before income tax
Taxation
4
Total profit and comprehensive income for year
Statement of Financial Position
30 June 2011
Note
2011
2010
$
$
1,689,529
1,898,159
ASSETS
Current assets
Cash and cash equivalents
7
Trade and other receivables
8
75,460
69,240
Inventories
9
212,226
221,442
Other assets
10
193,065
187,965
2,170,280
2,376,806
22,500,944
22,421,782
Total current assets
Non-current assets
Property, plant and equipment
11
Intangible assets
12
557,780
557,780
Total non-current assets
23,058,724
22,979,562
TOTAL ASSETS
25,229,004
25,356,368
LIABILITIES
Current liabilities
Trade and other payables
13
1,629,973
1,528,661
Borrowings
14
15,459
1,287,874
Short-term provisions
15
1,111,765
1,064,639
2,757,197
3,881,174
689,300
1,078,500
689,300
1,078,500
3,446,497
4,959,674
21,782,507
20,396,694
6,459,878
6,459,878
Retained earnings
15,322,629
13,936,816
TOTAL EQUITY
21,782,507
20,396,694
Total current liabilities
Non-current liabilities
Borrowings
14
Total non-current liabilities
TOTAL LIABILITIES
NET ASSETS
EQUITY
Reserves
16
The accompanying notes form part of these financial statements.
Statement of Changes in Equity
2011
Asset
Realisation
Reserve
$
Retained
Earnings
$
Balance at 1 July 2010
Comprehensive income for the year
Balance at 30 June 2011
Total
$
13,936,816
6,459,878
20,396,694
1,385,813
-
1,385,813
15,322,629
6,459,878
21,782,507
2010
Asset
Realisation
Reserve
$
Retained
Earnings
$
Balance at 1 July 2009
Comprehensive income for the year
Total
$
12,679,711
6,459,878
19,139,587
1,257,105
-
1,257,105
13,936,816
6,459,878
20,396,694
Statement of Cash Flows
Note
2011
2010
$
$
Cash from operating activities:
Receipts from customers
Payments to suppliers and employees
Interest received
Finance costs
21,468,684
20,863,179
(18,812,235)
(18,164,844)
34,692
31,635
(93,548)
(209,294)
2,597,593
2,520,676
152,442
23,628
Payment to acquire property, plant and equipment
(1,297,052)
(1,406,270)
Net cash provided by (used in) investing activities
(1,144,610)
(1,382,642)
Repayment of borrowings
(1,470,935)
(1,837,915)
Net cash provided by (used in) financing activities
(1,470,935)
(1,837,915)
Net cash provided by (used in) operating activities
20
Cash flows from investing activities:
Proceeds from sale of plant and equipment
Cash flows from financing activities:
Net increase (decreases) in cash held
Cash at beginning of financial year
Cash at end of financial year
7
The accompanying notes form part of these financial statements.
(17,952)
(699,881)
1,692,022
2,391,903
1,674,070
1,692,022
Notes to the Financial Statements
1. Summary of Significant Accounting Policies
a. General information
The financial statements are for West Tamworth League Club Limited as an individual entity, incorporated and domiciled in Australia.
West Tamworth League Club Limited is a company limited by guarantee.
b. Basis of preparation
The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting
Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board
and the Corporations Act 2001.
Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing
relevant and reliable information about transactions, events and conditions to which they apply. Compliance with Australian Accounting
Standards ensures that the financial statements and notes also comply with International Financial Reporting Standards. Material accounting
policies adopted in the preparation of this financial report are presented below. They have been consistently applied unless otherwise stated.
The financial report has been prepared on an accruals basis and is based on historical costs modified, where applicable, by the measurement
at fair value of selected non-current assets, financial assets and financial liabilities.
c. Revenue
Revenue from the sale of goods is recognised at the point of delivery as this corresponds to the transfer of significant risks and rewards of
ownership of the goods and the cessation of all involvement in those goods.
Interest revenue is recognised on a proportional basis taking into account the interest rate applicable to the financial assets. Revenue
from the rendering of a service is recognised upon the delivery of the service to the customers. All revenue is stated net of the amount of
goods and services tax (GST).
d. Income taxes
The income tax expense (revenue) for the year comprises current income tax expense (income) and deferred tax expense (income). The
Income Tax Act 1997 (as amended) provides that under the concept of member mutuality, clubs are only liable for income tax derived from
non-members. Current income tax expense charged to the profit or loss is the tax payable on taxable income calculated using applicable
income tax rates enacted, or substantially enacted, as at reporting date.
Current tax liabilities (assets) are therefore measured at the amounts expected to be paid to (recovered from) the relevant taxation
authority. Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability balances during the year as well
as unused tax losses. Current and deferred income tax expense (income) is charged or credited directly to equity instead of the profit or
loss when the tax relates to items that are credited or charged directly to equity.
Deferred tax assets and liabilities are ascertained based on temporary differences arising between the tax bases of assets and liabilities
and their carrying amounts in the financial statements. Deferred tax assets also result where amounts have been fully expensed but future
tax deductions are available. No deferred income tax will be recognised from the initial recognition of an asset or liability, excluding a
business combination, where there is no effect on accounting or taxable profit or loss.
Deferred tax assets and liabilities are calculated at the tax rates that are expected to apply to the period when the asset is realised or the
liability is settled, based on tax rates enacted or substantively enacted at reporting date. Their measurement also reflects the manner in
which management expects to recover or settle the carrying amount of the related asset or liability. Deferred tax assets relating to temporary
differences and unused tax losses are recognised only to the extent that it is probable that future taxable profit will be available against
which the benefits of the deferred tax asset can be utilised.
e. Cash and cash equivalents
Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original
maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on
the statement of financial position.
f.
Inventories
Inventories are measured at the lower of cost and net realisable value.
g. Property, plant and equipment
Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses.
Property
Freehold land and buildings are shown at their cost less, where applicable, any accumulated depreciation and impairment losses.
Plant and equipment
Plant and equipment are measured on the cost basis. The carrying amount of plant and equipment is reviewed annually by directors to
ensure it is not in excess of the recoverable amount from these assets. The recoverable amount of plant and equipment for non-profit entities
is the current replacement cost discounted to current asset condition.
Depreciation
The depreciable amount of all fixed assets including buildings but excluding freehold land, is depreciated on a straight-line basis over the
asset’s useful life to the company commencing from the time the asset is held ready for use.
The depreciation rates used for each class of depreciable assets are:
Class of Fixed Asset
Buildings and Improvements
1.0%
Plant and Equipment
10.0 - 20.0%
Furniture, Fixtures and Fittings 7.5 - 15.0%
Poker Machines
27.0%
Motor Vehicles
23.0%
Office Equipment
10.0 - 30.0%
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.
h. Intangible assets
Poker Machine Entitlements
The company, as a result of changes to state legislation, received for no cost, initial poker machine entitlements for those machines it held
at the time the legislation was enacted. These entitlements can be sold should the company decide to reduce or cease its poker machine
activities. The company has not recorded these initial poker machine entitlements in the financial report as there was no fair value on
acquisition of these entitlements.
The company has subsequently acquired a number of poker machine entitlements which were recognised at cost upon acquisition. These
poker machine entitlements have an indefinite life and as a result those acquired and capitalised since the legislation was enacted have not
been amortised. Poker machine entitlements are tested for impairment annually or more frequently if events or changes in circumstances
indicate that might be impaired, and are carried at cost less accumulated impairment losses.
i.
Financial instruments
Recognition and Initial Measurement
Financial instruments, incorporating financial assets and financial liabilities, are recognised when the company becomes a party to the
contractual provisions of the instruments. Trade date accounting is adopted for financial assets that are delivered within timeframes
established by marketplace convention. Financial instruments are initially measured at cost on trade date, which includes transaction costs,
when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below.
Derecognition
Financial assets are derecognised where the contractual rights to receipt of cash flows expires or the asset is transferred to another party
whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities
are derecognised where the related obligations are either discharged, cancelled or expire. The difference between the carrying value of the
financial liability extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non-cash
assets or liabilities assumed is recognised in profit or loss.
Classification and subsequent measurement
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and
are subsequently measured at amortised cost using the effective interest rate method.
Financial liabilities
Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation.
Impairment of Assets
At each reporting date, the company assesses whether there is objective evidence that a financial instrument has been impaired. In the
case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an
impairment has arisen. Impairment losses are recognised in the income statement.
j.
Employee benefits
Provision is made for the company’s liability for employee benefits arising from services rendered by employees to balance date. Employee
benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled.
Employee benefits payable later than one year have been measured at present value of the estimated future cash outflows to be made for
those benefits.
k. Borrowing costs
Borrowing costs are recognised in the income statement in the period in which they are incurred.
l.
Trade and other payables
Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the
company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid
within 30 days of recognition of the liability.
m. Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from
the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an
item of the expense. Receivables and payables in the statement of financial position are shown inclusive of GST. Cash flows are presented
in the cash flow statement on a gross basis, except for the GST component of investing and financing activities, which are disclosed as
operating cash flows.
n. Comparatives
When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current
financial year.
o. Critical accounting estimates and judgments
The directors evaluate estimates and judgments incorporated into the financial report based on historical knowledge and best available
current information. Estimates assume a reasonable expectation of future events and based on current trends and economic data, obtained
both externally and within the company.
Key estimates - Impairment
The company assesses impairment at each reporting date by evaluating conditions specific to the company that may lead to impairment
of assets. Where an impairment trigger exists, the recoverable amount of the asset is determined. Value-in-use calculations performed in
assessing recoverable amounts incorporate a number of key estimates.
2. Revenue
2011
2010
$
$
Sales revenue
- Sale of goods - Bar
2,891,600
2,914,978
- Sale of goods - Catering
2,897,196
2,787,860
386,216
376,694
11,431,051
10,997,413
99,861
79,525
- Bingo and Raffle Income
487,495
483,514
- Concert Tickets
510,673
546,668
- Keno Income
159,172
146,440
- Other Income
487,762 477,676
- Sale of goods - Bottle Shop
- Poker Machines - Net clearances
- Gaming Commissions
- Membership subscriptions
Total Revenue
Other Income
- Interest - cash at bank
171,613
176,925
19,522,640
18,987,694
34,692
31,635
3. Profit for the Year
2011
2010
$
$
Expenses
Interest paid to bank
93,548
209,294
Cost of Sales
5,704,328
5,631,045
Depreciation expenditure
1,032,996
1,056,048
Loss on sale of fixed assets
32,452
-
4. Income tax expense
The prima facie tax on profit from ordinary activities before income tax is reconciled to the income tax as follows:
Prima facie tax payable on profit from ordinary
activities before income tax at 30% (2010: 30%)
2011
2010
$
$
415,744
377,131
(525,709)
(437,440)
109,965
60,309
Add:
Tax effect of:
- Principal of Mutuality adjustment
- Adjustment for unrecognised losses
Income tax attributable to entity
-
-
The company has unrealised tax losses of $557,117 (2010: $447,152) at a tax rate of 30%. No deferred tax asset has been
taken up, as it is not probable that these losses will be utilised in future years.
5. Key Management Personnel Compensation
Key management personnel include the Chief Executive Officer/Company Secretary, Deputy Chief Executive Officer, Operations
Facility Manager Wests, Operations Facility Manager Wests’ Diggers and Director’s honorarium.
Short-term
benefits
Post employment
benefit
Other long-term
benefits
Total
$
$
$
$
2011 Total compensation
410,540
47,702
-
458,242
2010 Total compensation
390,436
44,576
-
435,012
6. Auditors’ Remuneration
2011
2010
$
$
- Auditing or reviewing the financial report
28,730
19,996
- Taxation services
14,820
12,504
43,550
32,500
Remuneration of the auditor of the company for:
7. Cash and cash equivalents
2011
$
Cash on hand
524,024
Cash at bank
Short-term bank deposits
2010
$
654,295
27,000
27,000
1,138,505
1,216,864
1,689,529
1,898,159
Reconciliation of Cash
Cash at the end of the financial year as shown in the cash flow statement is reconciled to items in the balance sheet as follows:
2011
$
Cash and cash equivalents
1,689,529
Bank overdraft 14
2010
$
1,898,159
(15,459)
(206,137)
1,674,070
1,692,022
8. Trade and other receivables
2011
2010
$
$
75,460
69,240
75,460
69,240
CURRENT
Trade receivables
a. Aged analysis
The ageing analysis of receivables is as follows:
2011
2010
$
$
0-30 days
37,667
31,310
31-60 days
5,904
9,196
61-90 days (past due not impaired)
1,755
28,734
91+ days (past due not impaired)
No provision for impairment was required for 2011 or 2010.
30,134
-
75,460
69,240
9. Inventories
2011
2010
$
$
CURRENT
At Cost
Finished goods
212,226
221,442
212,226
221,442
2011
2010
$
$
10. Other Assets
CURRENT
Prepayments
193,065
187,965
193,065
187,965
2011
2010
$
$
11. Property, plant and equipment
LAND AND BUILDINGS
Freehold land
1,000,000
1,000,000
Total freehold land
1,000,000
1,000,000
Buildings
19,166,294
19,140,543
Accumulated depreciation
(1,113,638)
(921,523)
Total buildings
18,052,656
18,219,020
Total land and buildings
19,052,656
19,219,020
Plant and equipment at cost
12,126,000
11,392,725
Accumulated depreciation
(8,796,356)
(8,328,598)
3,329,644
3,064,127
PLANT AND EQUIPMENT
Plant and equipment
Motor vehicles at cost -
41,971
Accumulated depreciation -
(18,362)
Total motor vehicles Crockery, glass & linen at cost
Total crockery, glass & linen
Total plant and equipment
Total property, plant and equipment
-
23,609
118,644
115,026
118,644
115,026
3,448,288
3,202,762
22,500,944
22,421,782
Movements in Carrying Amounts
Movement in the carrying amount for each class of property, plant and equipment between the beginning and the end of the current
financial year
Land
Balance at the beginning of year
$
1,000,000
Buildings
Plant and
Equipment
$
18,219,020
$
3,064,127
Additions
-
25,751
1,267,693
Disposals
-
-
(161,295)
Depreciation expense
Carrying amount at the end of year
1,000,000
Motor
Vehicles
$
23,609
(192,115)
(840,881)
-
3,329,644
-
Total
$
115,026
$
22,421,782
3,618
1,297,062
(23,609)
18,052,656
Crockery,
Glass & Linen
-
(184,904)
-
(1,032,996)
118,644
22,500,944
12. Intangible assets
2011
2010
Poker Machines Entitlements cost
$
557,780
$
557,780
Total Intangibles
557,780
557,780
2011
2010
$
$
13. Trade and other payables
CURRENT
Unsecured liabilities Trade payables
650,561
795,500
Amounts received in advance
118,745
117,246
Other creditors
742,220
489,779
Revenue in Advance
118,447
126,136
1,629,973
1,528,661
14. Borrowings
2011
2010
$
$
CURRENT
Secured liabilities Bank overdraft
15,459
Finance lease obligation
17
Bank Bills
206,137
-
81,737
-
1,000,000
15,459
1,287,874
2011
2010
$
$
NON-CURRENT
Secured liabilities Bank loans
689,300
1,078,500
689,300
1,078,500
a. Total current and non-current secured liabilities
Bank overdraft
Bank Loans
Finance lease obligations
2011
2010
$
$
15,459
206,137
689,300
2,078,500
704,759
81,737
2,366,374
b. The carrying amounts of non-current assets pledged as security are:
First mortgage over freehold land and buildings
2011
2010
$
$
19,052,656
19,219,020
19,052,656
19,219,020
15. Provisions
Opening balance at 1 July 2010
Annual Leave
Opening
balance
Long Service
Leave Opening
balance
$
$
671,294
Additional provisions
Amounts used
393,345
204,986
436,643
(189,734)
(404,769)
686,546
425,219
2011
2010
$
$
Analysis of Total Provisions
Current - Employee Annual leave entitlements
686,546
671,294
Current - Employee Long Service leave entitlements
425,219
393,345
1,111,765
1,064,639
16. Reserves
Asset Revaluation Reserve
The asset revaluation reserve records revaluations of non current assets.
17. Capital and Leasing Commitments
Finance Lease Commitments
2011
2010
Payable - minimum lease payments - no later than 12 months
$
-
$
95,612
Minimum lease payments
-
95,612
Less future finance changes
-
(13,875)
Present value of minimum lease payments
-
81,737
The finance lease and hire purchases are secured over the assets acquired with the leases or hire purchase agreement.
18. Financial instruments
Financial Risk Management Policies
The company’s financial instruments consist mainly of deposits with banks, short-term investments, accounts receivable and payable and
bank loans. The main purpose of those financial instruments is to raise finance for the company’s operations. The Board’s overall risk
management strategy seeks to meet the company’s financial targets, whilst minimising potential adverse effects on financial performance.
The Board is focused on debt repayment and interest expense reduction as well as maintaining healthy cash reserves and borrowing capacity.
The company does not have any derivative instruments at 30 June 2011.
a. Treasury Risk Management
The company director’s do not believe the company has any significant Treasury risks. Cash is only held in bank accounts or on hand for
operational purposes. The director’s actively offset cash assets against loans to reduce interest paid. The company strategy is to reduce
long-term debt as quickly as possible and maintain high levels of unused bank loan facilities.
b. Credit risk
The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets,
is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial
statements.
The profile of the Club’s credit risk at 30 June 2011 was as follows:
2011
2010
$
$
- Current
25%
59%
- Overdue
75%
41%
Percentage of sundry (unsecured) receivables
Although the company has a portion of receivables past due, the Company does not consider there to be sufficient risk of collection of
these receivables to require a doubtful debts provision.
The company does not have any material credit risk exposure to any single receivable or group of receivables.
c. Foreign exchange risk
The company is not exposed to fluctuations in foreign currencies.
d. Liquidity risk
The company manages liquidity risk by monitoring forecast cash flows and ensuring that adequate unutilised borrowing facilities are
maintained. Further, the company maintains significant cash on hand and at bank to manage day to day operations.
e. Price risk
The company is not exposed to any material commodity price risk.
f.
Interest Rate Risk
Financial instrument composition and maturity analysis
The company’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in the
market interest rates and the effective weighted average interest rates on classes of financial assets and financial liabilities is calculated
below. The company fixes the interest rate on a significant portion of its debt’s (bank bills, lease and hire purchase). The remaining assets
and liabilities are at floating interest rates. The tables below reflect the undiscounted contractual settlement terms for financial instruments
of a fixed period of maturity, as well as management’s expectations of the settlement period for all other financial instrument. As such the
amounts may not reconcile to the balance sheet.
Weighted Average
Effective Interest
Rate
2011
%
2010
%
Floating Interest Rate
2011
$
2010
$
Maturing within
1 Year
2011
$
2010
$
-
Non-interest Bearing
Total
2011
$
2010
$
2011
$
2010
$
-
524,024
654,295 1,689,529 1,898,159
-
-
75,460
-
-
599,484
-
-
-
-
-
1,000,000
-
-
-
-
-
-
-
Financial Assets:
Cash & cash
equivalents
Receivables
4.75
-
4.55 1,165,505 1,243,864
-
-
Total Financial
Assets
-
1,165,505 1,243,864
69,240
75,460
69,240
723,535 1,967,399 1,967,399
Financial Liabilities:
Bank overdrafts
Bank Bills
6.75
6.75
-
Bank Loan
6.34
6.35
6.34
15,459
-
206,137
-
689,300 1,078,500
Trade & sundry payables
-
-
-
-
-
Hire purchase liabilities
-
-
-
-
-
Total Financial
Liabilities
704,759 1,284,637
-
81,737
1,629,973 1,528,658
-
1,081,737 1,629,973
-
15,459
-
206,137
1,000,000
689,300 1,078,500
1,629,973 1,528,658
-
81,737
1,528,658 2,334,732 3,895,032
ii.Net fair values: The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the balance sheet and in the notes to the financial statements.
iii.Sensitivity Analysis Interest rate risk: The company has not performed a sensitivity analysis relating to its exposure to interest rate risk at balance date as the directors do not believe the sensitivity analysis is material.
19. Capital Management
Management controls the capital of the company to ensure that adequate cash flows are generated to fund its operations and that returns
from investments are maximised. The company’s capital consists of financial assets and liabilities. Management effectively managed
the company’s capital by assessing the company’s financial risks and responding to changes in these risks. Responses may include the
consideration of debt levels and maintaining adequate cash reserves. There has been no change in the capital management strategy of the
company since the previous year.
20. Cash Flow Information
a.
Reconciliation of Cash Flow from Operations with Profit after Income Tax
2011
2010
$
1,385,813
$
1,257,105
1,032,996
1,056,048
32,452
10,676
(Increase)/decrease in trade and term receivables
(6,220)
(21,165)
(Increase)/decrease in prepayments
(5,100)
23,549
9,216
(16,169)
101,310
172,131
47,126
38,501
2,597,593
2,520,676
Net income for the period
Cash flows excluded from profit attributable to operating activities
Non-cash flows in profit
Depreciation
Net (gain)/loss on disposal of property, plant and equipment
Changes in assets and liabilities
(Increase)/decrease in inventories
Increase/(decrease) in trade payables and accruals
Increase/(decrease) in provisions
b. Credit Standby Arrangement and Loan Facilities
The company has unused bank lending facilities amounting to $2,190,921. Interest rates are variable.
21. Related party transactions
Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other
parties unless otherwise stated.
22. Core and Non-core property
Core property is defined as any real property owned by the company that comprises the defined premises of the club or any facility provided
by the club for the use of its members and their guests. Pursuant to section 41J of the Registered Clubs Act 1976 the following properties
are considered core property of West Tamworth League Club Limited:
1) Wests’ Diggers Club, Lot 1 DP 1142453, 4 Kable Avenue Tamworth NSW 2340.
2) West Tamworth League Club, Lot 2 DP815862, 58 Phillip Street West Tamworth NSW 2340.
The company does not hold any non-core property as at 30 June 2011 or 2010.
23. Change in Accounting Policy
Various Australian Accounting Standards have been issued or amended and are applicable to the company, but are not yet effective and
have not been adopted in preparation of the financial statements at reporting date. These new and amended standards are not expected
to have a material impact on the accounts when the become mandatory.
24. Company Details
Registered office
The registered office of the company is:
58 Phillip Street West Tamworth NSW 2340
Principal place of business
The principal places of business are: West Tamworth League Club Limited 58 Phillip Street West Tamworth NSW 2340
and Wests’ Diggers 4 Kable Avenue Tamworth NSW 2340
Directors’ Declaration
The directors of the company declare that: 1. The financial statements and notes, as set out on pages 15 to 27, are in accordance with the
Corporations Act 2001 and: (a) comply with Accounting Standards and the Corporations Regulations 2001; and (b) give a true and fair
view of the financial position as at 30 June 2011 and of the performance for the year ended on that date of the company. 2. In the directors
opinion, there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.
This declaration is made in accordance with a resolution of the Board of Directors.
John McClelland Director
Maxwell Sharpe Director
Dated 31 August 2011
Independent Audit Report
Report on the Financial Report
We have audited the accompanying financial report of West Tamworth League Club Limited, which comprises the statement of financial
position as at 30 June 2011, and the statement of comprehensive income, statement of changes in equity and statement of cash flows for
the year ended that date a summary of significant accounting policies, other explanatory notes and the directors’ declaration.
Directors’ Responsibility for the Financial Report
The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with Australian
Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free
from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian
Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and
plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves
performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend
on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of
the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence in
conducting our review, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence
declaration required by the Corporations Act 2001, provided to the directors of West Tamworth League Club Limited on 30 August 2011,
would be in the same terms if provided to the directors as at the date of this auditor’s report.
Auditor’s Opinion
In our opinion the financial report of West Tamworth League Club Limited is in accordance with the Corporations Act 2001, including:
a. giving a true and fair view of the company’s financial position as at 30 June 2011 and of its performance for the year ended on that
date; and
b. complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations
2001.
Paul Cornall
Partner, Forsyths
127 Marius Street, Tamworth, NSW 2340
31 August 2011
Annual General Meeting
NOTICE IS HEREBY GIVEN THAT THE Annual General Meeting of West Tamworth League Club Limited ABN 26 001 037 832 is to be
held at the Club premises 58 Phillip Street, West Tamworth, New South Wales on Tuesday 29 November 2011 at 6.30pm.
The Financial Accounts can be viewed in PDF format on the Club’s website www.wtlc.com.au or on written request to the Chief Executive
Officer - Company Secretary.
Only FULL FEE, PENSIONER, TAMWORTH RSL, HONORARY LIFE and GOLD LIFE MEMBERS of the Club are entitled to attend
and vote.
BUSINESS:
1. MINUTES SILENCE: In recognition of Honorary Life member, Norm Young who passed away on July 6 this year.
2. APOLOGIES.
3. CONFIRMATION of the Minutes of the previous Annual General Meeting held Tuesday 23 November 2010.
4. REPORTS: To lay the Financial Report, Directors’ Report and Auditor’s Report for the year ended 30 June 2011 before the meeting.
5. ORDINARY RESOLUTION 1: That the members hereby approve payment of the following honorariums to each director of the Club for
services as a director of the Club from the Annual General Meeting held in 2010 until the Annual General Meeting in 2011:
President
$2,000
Treasurer
$1,500
Directors
$1,000 each
NOTES TO MEMBERS IN RELATION TO ORDINARY RESOLUTION 1
a. The Ordinary Resolution is to have the members approve the payment of honorariums to directors of the Club in respect of duties
performed by them during the previous year.
6. ORDINARY RESOLUTION 2: That the members hereby approve payment of the following honorariums to each director of the Club for
services as a director of the Club from the Annual General Meeting in 2011 until the Annual General Meeting in 2012:
President
$5000
Treasurer
$3000
Directors
$2000 each
Such honorariums to be paid on a pro-rata basis if the President, Treasurer or a director only holds office for part of the term.
NOTES TO MEMBERS IN RELATION TO ORDINARY RESOLUTION 2
a. The honorariums paid to directors in respect of their services to the Club have not been increased since 2002.
b. The duties, responsibilities, time and effort required of directors have significantly increased over time.
c. The Ordinary Resolution is to have the members approve an increase in the honorariums paid to directors in respect of duties to be
performed by them from the Annual General Meeting to be held in 2011 until the Annual General Meeting to be held in 2012.
d. It is proposed to increase the honorariums as follows:
President
-
from $2000 to $5000
Treasurer
-
from $1500 to $3000
Directors
-
from $1000 to $2000 each
e. If the President, Treasurer or a director only hold office for part of the year, the honorarium will be paid on a pro-rata basis which
means that that person will only receive part of the honorarium.
7. ORDINARY RESOLUTION 3: That the members hereby approve that the Club’s Board of Directors shall be entitled to receive the
following benefits for the twelve (12) month period preceding the 2012 Annual General Meeting and the members further acknowledge
that these benefits are only available to those members who are elected to the Club’s Board of Directors:
i.
Reasonable meals and refreshments for each director of the Club at Board or Committee meetings;
ii. Reasonable costs or expenses of attending functions whilst representing the Club (with partners where appropriate) or in undertaking
such other duties as may be approved from time to time by the Board;
iii. Reasonable costs or expenses in relation to the professional development and education of directors of the Club, including (but
not limited to):
•
Attending meetings of associations of which the Club is a member or directors of the Club are members;
•
Attending conferences, seminars, lectures, trade displays, organised study tours, fact finding tours and other similar events
(whether held within Australia or overseas) as may be determined by the Board from time to time;
•
Attending other registered clubs or gaming venues for the purpose of observing their facilities and methods of operation.
iv. Provision of a blazer and associated apparel.
v.
Provision of specially reserved parking spaces at the Club.
8. SPECIAL RESOLUTION 1: That, pursuant to Rule 25(e) of the Constitution of West Tamworth League Club Limited, the members
hereby approve Dennis Gross Member No. 342 be admitted as an Honorary Life member of West Tamworth League Club Limited.
9. DECLARATION OF DIRECTORS.
10. ELECTION OF OFFICE BEARERS.
11. GENERAL BUSINESS (of which due notice has been given) that may be brought before the meeting in accordance with the rules of
the Club.
PROCEDURAL MATTERS
1. To be passed ORDINARY RESOLUTIONS 1, 2 and 3 requires votes from a simple majority of members who being eligible to do so
vote in person on the Ordinary Resolutions at the meeting.
2. To be passed SPECIAL RESOLUTION 1 requires votes from not less than two-thirds of those members who being eligible to do so
vote in person on the Special Resolution at the meeting.
3. Under the Registered Clubs Act 1976:
a.
members who are employees of the club are not entitled to vote; and
b.
proxy voting is prohibited.
DATED: 31 August 2011
BY Direction of the Board
Rod Laing
Chief Executive Officer – Company Secretary
2011 election of directors
Voting
Dates &
Times
Candidate
Information
Voting will be conducted at West Tamworth League Club Phillip St ,
West Tamworth & Wests Diggers Kable Ave, Tamworth between the
following posted times
Friday
18 November10am to 8pm
Saturday
Sunday
Monday 21 November10am to 8pm
Tuesday 22 November10am to 8pm
Wednesday
Thursday
Friday
ANTHONY HOLLIS School Projects Officer
Anthony Hollis
I believe the stability we have had in the West Tamworth
League Club Board over the last 6 years has been
instrumental in the success of the Wests Entertainment
Group and I seek your approval to continue the success
with the management of Wests.
JOHN McCLELLAND Retired
• Board member for 25 years
• Current President and have been for 18 years
John McClelland
• Have overseen major expansion works at both clubs
in time on Board
JAMES COX Retired
• Previous Board member for 10 years. During that
time, held the position of Vice President for 8 years.
• Senior Vice President of Group 4 Rugby League
James Cox
• Retired Builder & Building Consultant
ANY ENQUIRIES CONCERNING THIS ELECTION SHOULD BE DIRECTED TO THE
RETURNING OFFICER, JAMES ROGER OF FORSYTHS – 6763 0100
Kable Ave, Tamworth NSW 2340
Ph: 02 6766 4661
Fax: 02 6766 4419
Email: [email protected]
www.wtlc.com.au
If not claimed within 7 days please return to PO Box 3040 West Tamworth NSW 2340
Phillip St, West Tamworth NSW 2340
Ph: 02 6765 7588
Fax: 02 6765 1508
Email: [email protected]
www.wtlc.com.au
POSTAGE
PAID
AUSTRALIA

WTLC AnnuAL RepoRT 1 - Wests Entertainment Group

Transcription

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