Ex-serviceBalance 2014-15 A5.indd

Transcription

70th
Annual Report
FOR THE YEAR ENDED
30th JUNE, 2015
Narrandera Ex-Servicemen’s Club Limited
ACN 001 054 735
ABN 90 001 054 735
Notice of Annual General Meeting
Notice is hereby given that the Seventieth Annual General Meeting of the
Narrandera Ex-Servicemen’s Club Limited will be held in the JB Driscoll Room at 10am,
Sunday 20th September, 2015
The business of the Annual General Meeting shall be as follows:
1. to receive and consider the minutes of the 69th Annual General Meeting held Sunday,
21st September, 2014
2. to receive and consider the reports referred to in Rule 39.4
a. the financial report of the Club; and
b. the directors’ report.
c. the statement by directors
d. the auditors’ report on the financial report.
3. in the case of a Biennial General Meeting, to declare the results of the election
of the Board and/or conduct any further election as may be required by this
Constitution.
Declaration of the election of Directors pursuant to Section 36.8 (c) of the
Constitution.
Following a Special Resolution passed by those members present and entitled to vote at
the Annual General meeting 2014 which altered the term of office for the Board to “biennial”
– with such amendments to take effect from that year’s Annual General Meeting (being the
first Biennial General Meeting) that the Directors elected at that meeting to remain in their
respective positions until the biennial meeting to be held in 2016.
“Biennial General Meeting” means every second Annual General Meeting being the
meeting at which the Board is elected to office pursuant to this Constitution, commencing
from the Annual General Meeting held Sunday, 21st September, 2014
PAGE 1
Those duly elected were:
President: Mr. Neville Wortlehock
Senior Vice President: Mr. Paul Ragen
Junior Vice President: Mrs Kerry Sproston
Directors: Mr. Keith Smith, Mr. Alan Taig, Mr. Geoff Roberts, Mrs. Kristen Clancy
4. to approve the payment of honorariums
First Ordinary Resolution – Presidents Honorarium of $7,500.00 per annum
Second Ordinary Resolution – reasonable expenditure by Directors
5. Declaration of Core Property
6. General Business
PAGE 2
ACN 001 054 735
ABN 90 001 054 735
ORDINARY RESOLUTIONS
FIRST RESOLUTION:
President’s Honorarium:
That pursuant to the Registered Clubs Act 10 (6) (b):
“The Members hereby approve an amount of $7,500 be paid to the President as an
Honorarium for the 2015/2016 Financial Year.”
Directors’ Educational and Seminar Expenses:
That pursuant to the Registered Clubs Act:
(a) “The Members hereby approve and agree to reasonable expenditure by the Club for
the professional development and education of Directors until the next Annual
General Meeting of the Club and being:
(i) The reasonable cost of Directors attending the Clubs NSW Annual General
Meeting.
(ii) The reasonable cost of Directors attending seminars, lectures, trade displays
and other similar events as may be determined by the Board from time to time.
(iii) The reasonable cost of Directors attending other Registered Clubs or similar
types of businesses for the purpose of observing their facilities and methods
of operation provided such attendances are approved by the Board as being
necessary for the betterment of the Club.
(b) “The Members acknowledge that the benefits in paragraph (a) above are not
available to Members generally but only to those who are Directors of the Club and
those Members directly involved in the above activities.”
NOTES TO MEMBERS
Presidents Honorarium
The first ordinary resolution is to have Members in a General Meeting hereby approve
the payment by the Club of an honorarium to the Chairman in the sum of $7,500.00 in
respect of his services as Chairman of the Club between the date of this meeting and
the Annual General Meeting in 2016.
To be passed – the resolution must receive a simple majority of votes in its favour from
those persons present at the meeting who are eligible to vote.
Directors’ Educational and Seminar Expenses
The second ordinary resolution is to have Members in a General Meeting approve
reasonable expenditure by the Club for Directors to attend seminars, lectures, trade
displays and other similar events including the Clubs
NSW Annual General Meeting and to visit other clubs to enable the Club’s governing
body to keep abreast of current trends and developments which may have a significant
bearing on the nature and way in which the Club conducts its business.
To be passed – the resolution must receive a simple majority of votes in its favour from
those persons present at the meeting who are eligible to vote.
Explanatory Message
Pursuant to the requirements of the Registered Clubs Act1976, the Club is required at
each Annual General Meeting to have approved by Ordinary Resolution, the benefits
to be provided to the Directors of the Club. The purpose of this Resolution is to comply
with the requirements of the Registered Clubs Act.
PAGE 3
ACN 001 054 735
ABN 90 001 054 735
~
Board of Directors
Neville Wortlehock
President
Paul Ragen
Vice-President
Kerry Sproston
Vice-President
Keith Smith
Director
Geoff Roberts
Director
Kristen Clancy
Director
Alan Taig
Director
PAGE 4
ACN 001 054 735
ABN 90 001 054 735
Directors’ Attendances 2014 -15
During the year July 1st , 2014 to June 30th , 2015 there were fourteen (14) meetings held,
being twelve (12) Ordinary Meetings and Two (2) Special Meetings.
Attendance by those eligible to attend was as follows:
Mr. Neville Wortlehock
Mr. Paul Ragen
Mrs. Kerry Sproston
Mr. Alan Taig
Mr. Keith Smith
Mr. Geoff Roberts
Mrs. Kristen Clancy
Mr. Gary Hoskinson
Eligible
14
14
14
14
14
14
• 11
•3
Ordinary
11
12
11
11
12
12
9
1
Special
2
2
2
2
2
2
1
1
Total
13
14
13
13
14
14
10
2
• Mrs. Kristen Clancy appointed September, 2014
• Mr. Gary Hoskinson term complete September, 2014
Life Members:
J. L. Moir*
C. J. Aubusson*
P. J. Hocking*
A. J. Withers*
G. B. Warden*
A. A. Hutchins*
G. C. Dangar*
* Denotes deceased.
J. B. Driscoll*
T. Jackson*
P. H. Smith*
D. J. Sheather*
M. Whitley
J. W. Sheather*
A. R. Black*
PAGE 5
J. D. Mooney*
E. A. Rea*
J. L. Welsh*
D. Doyle*
E. S. Cameron*
C. Lettie*
ACN 001 054 735
ABN 90 001 054 735
CLUB PROPERTY
Pursuant to Section 41J (2) of the Registered Clubs Act for the financial year ended 30
June, 2015:
(a)
(b)
the following properties are core property of the Club:
(i) licensed premises at Bolton Street, Narrandera NSW 2700
(ii) car park facilities at the address in (i) above adjacent to the Main Club
building.
(iii) car park facilities at the address in (i) above adjacent to the Club Inn
Motel
the following properties are non-core property of the Club:
(i) the Club does not own any non-core property
Notes to Members
1. Section 41J(2) of the Registered Clubs Act requires the annual report to specify
the core property and non-core property of the Club as at the end of the financial
year to which the report relates.
2. Core property is any real property owned or occupied by the Club that comprises:
(a)
the defined premises of the Club; or
(b)
any facility provided by the Club for use of its members and their guests; or
(c)
any other property declared by a resolution passed by a majority of the
members present at a general meeting of Ordinary members of the Club to
be core property of the Club.
3. Non-core property is any other property (other than that referred to above as core
property) and any property which is declared by the members at a general meeting
of ordinary members of the Club not to be core property.
4. The significance of the distinction between core property and non-core property is
that the Club cannot dispose of any core property unless:
(a)
the property has been valued by a registered valuer within the meaning of
the Valuers Act 2003; and
(b)
the disposal has been approved at a general meeting of the ordinary
members of the Club at which the majority of the votes cast support the
approval;
(c)
any sale is by way of public auction or open tender conducted by an
independent real estate agent or auctioneer.
These disposal provisions and what constitutes a disposal for the purposes of
section 41J are to some extent modified by regulations made under the Registered
Clubs Act and by Section 41J itself.
5. Non-core property is not subject to the limitations referred to in paragraph 4 above
and can be disposed of without the Club having to following the procedure referred
to in paragraph 4 above.
PAGE 6
ACN 001 054 735
ABN 90 001 054 735
DIRECTORS REPORT
Your Directors submit the financial accounts of the Company for the year ended 30
June, 2015.
The names of Directors in office at the time of the report are:
Neville Wortlehock
Paul Ragen
Kerry Sproston
Alan Taig
Keith Smith
Geoff Roberts
Kristen Clancy
Retired
Retired
Business Proprietor
Painting Contractor
Retired
Retired
Laboratory Manager
President
Vice President
Vice President
Director 3 years
Director 2 years
Director 2 years
Director 1 year
Director 8 Years
Director 3 years
Director 5 years
Principle Activities
The principle activity of the club during the financial year is the operation of a licensed
club, and that the income of the Club is directed towards the improvement and maintenance of the Club’s facilities and the promotion of the social welfare of members, their
guests and affiliated sub-clubs.
No significant change in the nature of these activities occurred during the year.
Objectives
The company’s short term objectives are to:
• Strive to achieve excellence in serving our community by providing exceptional
customer service and quality facilities;
• Maintain a licensed Club under the Registered Clubs Act for the benefit of our
members and their guests and;
• To maximise profit and minimise debt to ensure long-term financial flexibility and
sustainability.
The long-term objectives of the Club are;
• Support the Narrandera RSL Sub Branch and maintain the Anzac tradition
• Support our affiliated sub-clubs, charities and community organisations, and
continually improve the Clubs facilities in order to remain relevant to our members
and the local community.
To achieve these objectives, the company has adopted the following strategies:
 Remain financially viable by adopting prudent financial management and best
practice corporate standards.
 Continually develop and improve the assets of the company.
 Attract and retain quality staff and contractors who are committed to the company
objectives.
PAGE 7
ACN 001 054 735
ABN 90 001 054 735
DIRECTORS REPORT
Key Performance Measures
The company measures its’ own performance through the use of quantitative and
qualitative benchmarks. The benchmarks are used to assess the financial sustainability
of the company and whether the company’s short and long term objectives are being
achieved.
Members Guarantee
Narrandera Ex-Servicemen’s Club Ltd is a company limited by guarantee.
The Articles of Association provides that each member of the Club undertakes to
contribute such amount as may be required not exceeding $2.00 if the Club is wound up
and the assets of the Club are insufficient to discharge the liabilities. This undertaking
continues for a period of 12 months after the person ceases to be a member.
Operating Results
The result of operations for the year after allowing for income tax and abnormal items
was a profit of $138,218
State of Affairs
No significant changes occurred in the state of affairs of the company during the year.
Review of Operations
The Clubs profit reduced when compared to the 2014 year profit of $186,435.
Events Occurring after Balance Date
No events are expected which would have a significant effect on future profitability of
the company.
Directors Benefits
Since the end of the previous financial year, no director has received, or become
entitled to receive, any benefit by reason of contract made by the company with a
director or with a firm which a director is a member or a director has a substantial
financial interest other than is disclosed in the financial statements.
Auditor’s Independence Declaration
The Directors have received an Auditor Independence Declaration for the financial year
from our auditor - William Tomiczek & Associates.
Signed in accordance with a resolution by the Board of Directors.
N. Wortlehock
P. Ragen
13th Day of August 2015
PAGE 8
ACN 001 054 735
ABN 90 001 054 735
STATEMENT BY THE DIRECTORS
In the opinion of the directors of the company:
1. a) The accompanying profit and loss account gives a fair view of the company’s
profit and loss for the financial year ended 30th June 2015 and
b) The accompanying balance sheet gives a true and fair view of the company’s
state of affairs at the end of the financial year.
c) The statement of cash flow gives a true and fair view of the cash flow of the
company for that financial year.
2. There are reasonable grounds to believe that the company will be able to pay its
debts as and when they fall due.
3. The directors have not complied with accounting standard AASB 116 in that the
buildings have not been depreciated. The directors decided that the application of
the standard would not present a view of the result of operations or the state of
affairs that is any more true and fair than is presented in the financial statements.
The financial effect of this departure is that the operating profit and land and
buildings are overstated by $66,935 for this year.
4. The directors have reviewed the impact of the introduction of Australian Equivalents
to International Financial Reporting Standards and advise that no material impact
is anticipated from the introduction of these standards. The company’s financial
statements have been prepared in accordance with these standards.
The statement is made in accordance with a resolution of the Board of Directors and
is signed for and on behalf of the directors by:
N. Wortlehock
P. Ragen
AUDITOR’S INDEPENDENCE DECLARATION
In relation to the audit of the financial report of the company for the financial year ended
June 30, 2015, to the best of my knowledge and belief there have been no
contraventions of the auditor independence requirements of the Corporations Act 2001
or any applicable code of professional conduct.
William Tomiczek
Registered Company Auditor 1425
PAGE 9
President’s
Report
Members
Thank you once again for the opportunity to present to you the financial report for
2014/2015.
We are pleased to report a profit of $138,218 which follows on from last years profit of
$186,435.
This past year has been a demanding one for your Board of Directors and I take this
opportunity to thank them for their service to the Club. Two very solid years trading has
been the reward for the hard work put in by your Directors.
As a result of changes to the Constitution at last years AGM, which included biennial
elections, the current board is half way through its elected period of 2 years. This has
been most beneficial as the Board is able to make longer term plans and its decisions
are focused on continued growth and improvement for the benefit of the members and
the community.
The re-election of the majority of the Board of Directors has meant that we have been
able to continue on the path of financial rejuvenation and as a result, progress with projects that had been in the planning stages for the past two years.
Our main focus has been to complete the renovation of the JB Driscoll Function Room
and to replace the existing Members Rewards and Gaming Management System. Both
of these projects are long overdue and we are pleased to report that at the time of writing
– both projects have been commenced with a planned completion to coincide with this
years Annual General Meeting.
The JB Driscoll Room will have undergone a complete transformation. The room has
been refurbished from floor to ceiling including new paint, carpet, a suspended ceiling and
much more. To enhance our growing reputation as a corporate function centre – we have
up-graded the WIFI and installed a new remote controlled data projector and screen.
Guests also planning social functions including weddings and parties will benefit from a
full length back-drop which can be tucked away when not in use. We encourage everyone
to contact our staff to arrange a viewing of our fantastic JB Driscoll Function Room.
One of the most satisfying aspects of this renovation is the fact that we have been able
to use local trades and suppliers. We appreciate their understanding of our needs and the
high quality of the work performed. On behalf of the Board and the members, we thank
them for their service and support of our Club.
PAGE 10
There are many other Club facilities that will require attention in the not too distant
future. We look forward to continued prosperity so that we can upgrade them as soon as
our cash flow allows.
We would like you to join in congratulating our staff. Our CEO – Rick Boller has ensured
that the new policies, procedures and sound business principles that he put in to place in
2013/2014 have been adhered to resulting in consecutive profits. Rick is ably assisted in
Admin by Katrina Gleeson, Sarah Cahill and Liz Powell. Our supervisory staff - Melissa
Johnson, Alwyn Choy, Donna Poulson, Tracy Jeans and their team ensure that we – the
members, are always well looked after. Thanks also go to Wayne Rowley and his maintenance team for keeping the house in good order.
Early this year we welcomed Jessy and Sirat Singh as our new Contract Caterers.
Jessy and his team at “Cucina Locale” bring a vibrant new style of cooking including
culinary delights which have received rave reviews in the six months they have been with
us. I look forward to the future with them.
During September we will be celebrating our 70th Anniversary. Our hardworking Entertainment & Promotions Committee has drawn up a list of activities for us all to participate
in. There will be a wide range of special draws and promotions for members to participate
in and lots of opportunities to win great prizes. We hope to see you at some time during
the celebrations.
Members - this is the second year of the current board’s term, and is the third year of
our plan to return the Club to profit and prosperity. At the end of this term your Board will
be up for re-election. It would be hoped that we can retain the status quo given the hard
work that has been put in and success achieved by your Directors over the past three
years.
Neville Wortlehock
President.
PAGE 11
Secretary
Manager’s
Report
Members
I am happy to report to you that the Club has achieved a profit for the year ended June
30, 2015 of $138,218. This follows on from our 2014 profit of $186,432 which, for the
Members, the Board of Directors, the Management and Staff is a very pleasing result.
Members would be aware from our previous reports that we have implemented several
changes in the past two years and the results we have achieved are a reflection of those
changes with a combined profit of $324,650.
The year was not without its challenges. As reported last year we anticipated a reduction in trade particularly in our main sources of income being bar and poker machines.
That being said – we have returned figures which are a significant improvement on years
prior to 2013 and which have contributed to a very solid profit for the year. It is our view
that the year ahead will return similar results and we are working hard to ensure that we
provide incentive for our patrons to attend the Club regularly to ensure that this is so.
The Board of Directors has committed to several items of refurbishment or replacement.
As our President Mr. Neville Wortlehock outlines in his report – we are well underway
with the refurbishment of the JB Driscoll function room. We have been successful in attracting a diverse group of companies and corporate bodies who are making use of our
facilities. The completion of the refurbishment will provide much better facilities and will
enhance our reputation as the premier function centre in the region.
In addition to refurbishment of our facilities, we have concentrated on replacing function
furniture and equipment. Items include chairs, tables, an upgrade to the WIFI System, a
Kids Play area in the Dining Room as well as a range of new equipment in the kitchen.
In support of our enhanced reputation are our new caterers Jessy and Sirat Singh who
are trading as “Cucina Locale”. Chefs Jessy and Chandon bring a wide range of skills
and expertise with them which allows for a wonderful food offering for our patrons which
in turn assists us in attracting a wider range of clients. They are a wonderful and welcome
addition to our Club.
Regular patrons will be happy to know that the existing Gaming Management and Paging System is soon to be replaced. The new system (System 7000) is due to be commissioned in late September. This is a major acquisition for the Club which has been brought
about by the hard work of the past two years. We look forward to turning on the new system and the response from members when they are able to reap the rewards it offers.
PAGE 12
There are many people involved in running a company such as ours. Members have
been well served by a Board of Directors who are committed to the cause and spend a
great deal of their own personal time working for the Club. They are to be congratulated
for engineering and driving the positive change that has taken place over the past few
years. Equally – the Club staff have been actively involved in the many changes implemented and are deserving of praise. As a whole – we are a great team, working for a
great club and we look forward to continuing prosperity.
Rick Boller
Secretary Manager
PAGE 13
ACN 001 054 735
ABN 90 001 054 735
AUDITORS REPORT
TO THE MEMBERS OF
NARRANDERA EX-SERVICEMENS CLUB LIMITED
1. We have audited the accounts, being the Statement by the Directors, Balance Sheet, Profit
and Loss Account and Notes to and forming part of the Accounts of the Narrandera Ex-Servicemen’s Club Limited for the year ended 30th June 2015. The club’s directors are responsible
for the preparation and presentation of the accounts and the information they contain. We have
conducted an independent audit of these accounts in order to express an opinion on them to the
members of the Club.
2. Our audit has been conducted in accordance with Australian Accounting Standards to
provide reasonable assurance as to whether the accounts are free of material misstatement.
Our procedures include examination, on a test basis, of evidence supporting the amounts and
other disclosures in the accounts, and the evaluation of accounting policies and significant
accounting estimates. These procedures have been undertaken to form an opinion as the
whether, in all material respects, the accounts are presented fairly in accordance with Australian
Accounting Concepts and Standards and statutory requirements so as to present a view of the
company which is consistent with our understanding of their financial position and results of their
operations.
3. The company has not complied with accounting standard AASB 116 in that buildings have not
been depreciated.
Independence
We are independent of the company and have met the independence requirements of
Australian ethical pronouncements and the Corporations Act 2001.We have given to the directors of the company a written Auditor’s Independence Declaration. In addition to our audit of the
financial report, we were engaged to undertake the services disclosed in the notes to the financial
statements. The provision of these services has not impaired our independence.
In our opinion, except for the departure mentioned in 3 above, the accounts of the Narrandera
Ex-servicemen’s Club Limited are properly drawn up:
a) So as to give a true and fair view of
i) The state of affairs of the company as at 30th June 2015 and of the profit of
the club for the year ended on that date; and
ii) The other matters required by division 4, 4A and 4B of part 3.6 of the
Corporations Law to be dealt with in the financial statements;
b) in accordance with the provisions of the Corporation Law; and
c)
In accordance with Statements of Accounting Concepts and applicable
Accounting Standards
13th day of August 2015
66 Emu Plains Rd
Mt. Riverview NSW 2774
William Tomiczek
Registered Company Auditor 1425
PAGE 14
ACN 001 054 735
ABN 90 001 054 735
NARRANDERA EX-SERVICEMEN'S CLUB LIMITED
ACN 001 054 735
BALANCE SHEET
BALANCE SHEET
FOR THE YEAR ENDING
30thTHE
JUNE,
2015ENDING 30th JUNE, 2015
FOR
YEAR
30.06.15
30.06.14
CURRENT ASSETS
Cash (3)
Receivables (4)
Inventories (5)
Other (6)
351,215
9,231
47,827
14,916
423,189
347,565
6,148
50,391
12,976
417,080
4,246,889
3,000
4,249,889
3,924,387
3,000
3,927,387
75,823
95,340
35,143
206,306
87,688
118,242
39,482
245,412
206,306
245,412
NET ASSETS
4,466,772
4,099,054
MEMBERS FUNDS
Retained Profit
4,466,772
4,099,054
NON-CURRENT ASSETS
Property Plant & Equipment (7)
Other Asset-Loan
TOTAL ASSETS
CURRENT LIABILITIES
Creditors and Borrowings (8)
Provisions (9)
Other
NON-CURRENT LIABILITIES
Creditors and Borrowings (8)
Provisions (9)
TOTAL LIABILITIES
PAGE 15
ACN 001 054
735LIMITED
ABN 90 001 054 735
NARRANDERA EX-SERVICEMEN'S
CLUB
ACN 001 054 735
STATEMENT OF CASH FLOWS
STATEMENT OF CASHFLOWS
FOR THE YEAR ENDING
30thTHE
JUNE,
2015 ENDING 30th JUNE, 2015
FOR
YEAR
30.06.15
30.06.14
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
Payments to suppliers and employees
2,399,588
-2,203,197
196,391
2,526
2,534,117
-2,235,710
298,407
3,347
198,917
301,754
CASH FLOW FROM INVESTING ACTIVITIES
Payments for property, plant and equipment
Proceeds on sale of property plant and equipment
-256,004
60,737
-251,417
24,683
NET CASH OUTFLOW FROM INVESTING ACTIVITIES
-195,267
-226,734
Advances & Loans
0
-3,000
NET CASH OUTFLOW FROM FINANCING ACTIVITIES
0
-3,000
3,650
72,020
Cash at the beginning of the financial year
347,565
275,545
CASH AT THE END OF THE FINANCIAL YEAR (16)
351,215
347,565
Interest received
Interest and other costs of finance
Paid
NET CASH FLOW FROM OPERATING ACTIVITIES (16)
CASH FLOW FROM FINANCING ACTIVITIES
NET INCREASE/(DECREASE) IN CASH HELD
PAGE 16
ACN 001 054 735
ABN 90 001 054 735
ACN 001 054 735
INCOME STATEMENT
INCOME STATEMENT
FOR THE YEAR ENDING
30thTHE
JUNE,
2015ENDING 30th JUNE, 2015
FOR
YEAR
30.06.15
Operating Loss before abnormal
items and income tax (1 and 2)
30.06.14
138,218
186,435
138,218
186,435
Revaluation Poker Machine entitlements
4,099,054
229,500
3,836,103
76,516
Retained profits at the end of the
Financial year
4,466,772
4,099,054
Operating profit after abnormal items
and before income tax
Income tax attributable to operating
profit
Operating profit after abnormal items
and income tax
Retained profits at the beginning
of the financial year
PAGE 17
ACN 001 054 735
ABN 90 001 054 735
STATEMENT OF CHANGES IN EQUITY
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDING 30th JUNE, 2015
FOR THE YEAR ENDING
JUNE
30th
30TH
JUNE,
2015
2012
Retained
Earnings
Balance
Profit
Retained
Earnings
2015
2014
1/07/2014
4,099,054
3,836,103
2015
367,718
262,951
4,466,772
4,099,054
PAGE 18
ACN 001 054 735
ABN 90 001 054 735
NOTES TO AND FORMING PART OF THE ACCOUNTS
NOTE 1 - STATEMENT OF ACCOUNTING POLICIES
The accounts have been prepared in accordance with Statements of Accounting Concepts,
applicable Accounting Standards and the Corporations Law, including the disclosure
requirements of Schedule 5. The accounts have also been prepared on the basis of
historical cost and do not take into account changing money values, or, except where stated
current valuations of non-current assets. The accounting policies have been consistently
applied unless otherwise stated.
The following is a summary of the significant accounting policies adopted by the Company
preparation of the accounts.
a) Inventories
Inventories are measured at the lower of cost or net realisable value
b) Property, Plant and Equipment
Property, plant and equipment are brought to account at cost, less, where applicable,
any accumulated depreciation or amortisation.
The depreciable amount of all fixed assets including capitalised leased assets but
excluding freehold land and buildings are depreciated over their useful lives
commencing from the time the asset is held ready for use.
Poker Machine Entitlements are not valued at cost but at current market value as
determined by the Directors.
c) Leases
Leases of fixed assets, where substantially all the risks and benefits incidental to the
ownership of the asset, but not legal ownership, are transferred to the company, are
classified as finance leases. Finance leases are capitalised recording an asset and
a liability equal to the present value of the minimum lease payments. Including any
guaranteed residual value. Leased assets are amortised over their estimated useful
lives. Lease payments are allocated between the reduction of the lease liability and
the lease interest expense for the period.
d) Employee Benefits
Provision is made in respect of the company’s liability for annual leave, and long
service leave. Long service leave is accrued in respect of all employees with more
than five years service with the Club.
Contributions are made by the club to an employee superannuating fund and are
charged as expenses when incurred. The Club has no legal obligation to provide
benefits to employees on retirement.
e) Cash flow
For the purpose of the statement of cash flows, cash includes:
i) Cash on hand and in at call deposits with banks or financial institutions, net of
bank overdraft.
PAGE 19
ACN 001 054 735
ABN 90 001 054 735
CLUBFINANCIAL
LIMITED
SUPPLEMENTARY
INFORMATION
ACN 001 054 735 NOTES TO THE PROFIT AND LOSS ACCOUNT
SUPPLEMENTARY FINANCIAL
INFORMATION
FOR THE
YEAR ENDING 30th JUNE, 2015
NOTES TO THE PROFIT AND LOSS ACCOUNT
30.06.15
NOTE 2 OPERATING PROFIT
30.06.14
Operating Profit before abnormal items and
income tax has been determined after:
Charging as expenses:
138,218
186,435
Depreciation of Plant and Equipment
162,571
143,905
300,789
330,340
4,400
4,400
8,800
4,400
4,400
8,800
Crediting Income
Sales Revenue
Interest Received
Profit sale of plant
Other Revenue
634,457
2,526
60,737
1,768,214
672,666
3,348
24,683
1,859,766
TOTAL REVENUE
2,465,934
2,560,463
64,979
64,461
129,841
39,733
20,839
13,402
22,019
60,402
351,215
176,722
49,133
24,422
10,000
22,039
788
347,565
Auditor's Remuneration
For Auditing Accounts
For other services
NOTE 3 CASH
Cash on Hand
Bendigo Bank, Narrandera
Cash Management Account /Mortgage Fund
Current Account
Keno Account
Imprest Account
TAB Account
Building &Renovation Account
PAGE 20
ACN 001 054 735
ABN 90 001 054 735
CLUB FINANCIAL
LIMITED
SUPPLEMENTARY
INFORMATION
INFORMATION
FOR THE
30.06.15
NOTE 4-RECEIVABLES
Trade Debtors/Security Deposits
30.06.14
9,231
6,148
46,181
1,646
47,827
47,298
3,093
50,391
3,550
8,711
2,655
14,916
0
3,154
8,495
1,327
12,976
Freehold Land and Buildings-at cost Core Property
2,936,513
2,927,311
Plant and Furniture-at cost
Less Accumulation Depreciation
3,949,134
3,327,258
621,876
3,874,709
3,336,633
538,076
3,000
3,000
688,500
459,000
4,249,889
3,927,387
NOTE 5-INVENTORIES
Stock on hand
-Bar
-Monster Competition
Total
NOTE 6-OTHER CURRENT ASSETS
Prepayments
-Insurance
-Service Contracts
-Other
Membership Cards/Postage
NOTE 7-PROPERTY, PLANT & EQUIPMENT
Other non-current asset-Loan
Poker machine entitlements-at valuation (2015)
PAGE 21
ACN 001 054 735
ABN 90 001 054 735
CLUBFINANCIAL
LIMITED
SUPPLEMENTARY
INFORMATION
INFORMATION
FOR THE
30.06.15
NOTE 8-CREDITORS & BORROWINGS
30.06.14
CURRENT
Trade Creditors
75,823
87,688
Total
75,823
87,688
36,362
58,978
42,481
75,761
95,340
118,242
2,972
28,340
3,831
35,143
1,680
25,876
11,927
39,483
NOTE 9-PROVISIONS
CURRENT
Provisions for Annual Leave
Provisions for Long Service Leave
NOTE 10-OTHER CREDITORS AND BORROWINGS
Subscription in advance
Accrued Expenses
Link payouts
PAGE 22
ACN 001 054 735
ABN 90 001 054 735
ACN 001 054 735 SUPPLEMENTARY FINANCIAL INFORMATION
TO THE
PROFIT AND LOSS ACCOUNT
SUPPLEMENTARYNOTES
FINANCIAL
INFORMATION
FORAND
THELOSS
YEARACCOUNT
ENDING 30th JUNE, 2015
NOTES TO THE PROFIT
30.06.15
30.06.14
NOTE 13-DIRECTOR Emoluments
Remuneration received or due and
Received by all directors of the club
-Presidents allowance
-Other expenses
Number of directors whose income
From the club fall within the
Following band:
$0-$9,999
7,500
5,814
7,500
1,769
1
1
4,974
0
NOTE 14-RELATED PARTIES
During the financial year the following directors
of the club, received amounts as consideration
for services provided to the club
Paul Ragen
PAGE 23
ACN 001 054 735
ABN 90 001 054 735
SUPPLEMENTARY FINANCIAL INFORMATION
NOTE 15 - RECONCILIATION OF OPERATING PROFIT AFTER INCOME
TAX TO NET CASH INFLOW FROM OPERATING ACTIVITIES.
Operating Profit after income tax and abnormal items
Profit on sale of fixed assets
Depreciation and amortisation
Changes in operating assets and liabilities
Increase in trade debtors
Decrease in inventories
Increase in prepaid expenses
Decrease in trade creditors and accruals
Decrease in other provisions
Total
30.06.15
30.06.14
138,218
-60,737
162,571
186,435
-24,683
143,905
-3,083
2,564
-1,940
-16,205
-22,902
198,486
1,685
-14,802
8,270
26,379
-752
326,437
NOTE 17 - RECONCILIATION OF CASH
The cash figure as shown in the balance sheet is reconciled to cash as at the
end of the financial year as disclosed in the statement of cash as follows:Cash Bank and on hand
Balance as per statement of cash flows
351,215
351,215
PAGE 24
347,565
347,565
ACN 001 054 735
ABN 90 001 054 735
SUPPLEMENTARY FINANCIAL INFORMATION
2015
30.06.15
Bar (1)
Poker Machines (2)
Sports Committee (3)
Monster Competition (4)
Keno (6)
Other Income (7)
TAB (9)
Total
Less:
Overhead Expenses (10)
Net Profit
30.06.14
75,465
1,213,315
3,940
849
57,888
115,841
-23,150
1,444,148
106,187
1,241,647
1,042
1,895
58,424
79,461
-22,793
1,465,863
1,305,930
138,218
1,279,428
186,435
509,794
553,046
Less Closing Stock
Cost of Sales
Gross Trading Profit
47,298
224,060
271,358
46,181
225,177
284,617
32,161
264,809
296,970
47,298
249,672
303,374
Gross Profit Percentage
55.83%
54.86%
Less Expenses:
Bar Wastage
Bar Freight
Bar Requisites
Bar Wages
12,021
6,331
9,560
181,240
8,848
7,199
6,004
175,136
Total
209,152
197,187
75,465
106,187
NOTE ONE - BAR TRADING ACCOUNT
Sales - Bar
Less Cost of Sales:
Opening Stock
Purchases
Net Bar Profit/ (Loss)
PAGE 25
ACN 001 054 735
ABN 90 001 054 735
NARRANDERA
EX-SERVICEMEN'S
CLUB LIMITED
ARRANDERA
EX-SERVICEMEN'S
CLUB LIMITED
SUPPLEMENTARY
FINANCIAL INFORMATION
CN 001 054ACN
735001 054 735
SUPPLEMENTARY
INFORMATION
UPPLEMENTARY
FINANCIAL FINANCIAL
INFORMATION
FOR THE
NOTES
TO THE
PROFIT
AND LOSS ACCOUNT
OTES TO THE
PROFIT
AND
LOSS ACCOUNT
FOR ENDING
THE YEAR
ENDING
30th JUNE, 2015
OR THE YEAR
30th
JUNE, 2015
NOTEMACHINE
2- POKERPROFIT
MACHINE
PROFIT
AND LOSS ACCOUNT
OTE 2- POKER
AND
LOSS ACCOUNT
30.06.15
30.06.15
30.06.14
30.06.14
Poker
Machine Proceeds
oker Machine
Proceeds
1,617,569
1,617,569
1,702,170
1,702,17
Less Expenses:
ess Expenses:
Data Monitoring
ata Monitoring
Supplementary
Tax
upplementary
Tax
I fees etc S I fees etc
Paging system
aging system
Poker
Machine Wages
oker Machine
Wages
Repairs and Maintenance
epairs and Maintenance
Poker
Machine Promotions
oker Machine
Promotions
Jackpot Provision
nk Jackpot Link
Provision
Poker
Machine Stationery
oker Machine
Stationery
Total
otal
Poker
Machine Profit/(Loss)
oker Machine
Profit/(Loss)
26,819
217,268
7,220
2,392
114,969
32,447
9,216
-8,096
2,019
404,254
1,213,315
26,819
217,268
7,220
2,392
114,969
32,447
9,216
-8,096
2,019
404,254
1,213,315
26,068
232,865
7,660
3,189
132,994
32,682
13,924
9,199
1,942
460,523
1,241,647
26,06
232,86
7,66
3,18
132,99
32,68
13,92
9,19
1,94
460,52
1,241,64
Competition etc.
ompetition etc.
46,792
46,792
42,596
42,59
Less Expenses:
ess Expenses:
Sports
prize and Trophies
ports prize and
Trophies
Sports
committee
ports committee
Profit/
(Loss)Profit/ (Loss)
42,852
3,940
42,852
3,940
41,554
1,042
41,55
1,04
NOTE 3SPORTS COMMITTEE
AND LOSS ACCOUNT
OTE 3- SPORTS
COMMITTEE
AND LOSS ACCOUNT
NOTE 4-COMPETITION
MONSTER COMPETITION
PROFIT
AND LOSS ACCOUNT
OTE 4- MONSTER
PROFIT AND
LOSS ACCOUNT
cket Sales Ticket Sales
77,871
77,871
77,024
77,02
Less Expenses:
ess Expenses:
Opening Stock
pening Stock
urchases Purchases
Total
otal
ess: ClosingLess:
StockClosing Stock
Total
otal
Wages
ages
Monster Profit/
Competition
onster Competition
(Loss)Profit/ (Loss)
3,093
72,501
75,594
1,646
73,948
3,074
849
3,093
72,501
75,594
1,646
73,948
3,074
849
3,428
74,794
78,222
3,093
75,129
3,42
74,79
78,22
3,09
75,12
1,895
1,89
PAGE 26
ACN 001 054 735
ABN 90 001 054 735
TO THE
SUPPLEMENTARYNOTES
FINANCIAL
INFORMATION
FOR
THE
YEAR
NOTE 6- KENO PROFIT AND LOSS ACCOUNT
30.06.15
30.06.14
Ticket Commission
Less expenses
88,995
95,179
Keno Maintenance Expenses
Keno Promotions
Keno Wages
Keno Stationery
Total
Keno Profit/(Loss)
5,093
14
24,774
1,226
31,107
57,888
6,338
1,412
27,643
1,362
36,755
58,424
17,180
7,100
2,526
60,737
7,185
5,380
2,176
11,613
1,944
115,841
17,180
5,200
3,348
24,683
7,705
3,575
0
11,566
6,204
79,461
9,072
10,988
19,395
12,827
32,222
-23,150
19,978
13,803
33,781
-22,793
NOTE 7- OTHER INCOME
GST rebate
Utilities Contribution
Interest Revenue
Profit sale of Non Current Assets
Subscriptions
Conference Fees
Insurance Recoveries
ATM income
Bar Rebate
Total
NOTE 9 - TAB
Commissions/Rebates
Less expenses
TAB Expenses
Wages
Total
TAB Profit/Loss
PAGE 27
ACN 001
054
735 LIMITED
ABN 90 001 054 735
NARRANDERA
NARRANDERA
EX-SERVICEMEN'S
EX-SERVICEMEN'S
CLUB
CLUB
LIMITED
ACN 001
ACN054
001735
054 735
SUPPLEMENTARY
FINANCIAL INFORMATION
SUPPLEMENTARY
SUPPLEMENTARY
FINANCIAL
FINANCIAL
INFORMATION
INFORMATION
NOTES
TOLOSS
THE ACCOUNT
NOTES
NOTES
TO THE
TO PROFIT
THE PROFIT
AND LOSS
AND
ACCOUNT
FOR
THE
YEAR
FOR THE
FOR YEAR
THE YEAR
ENDING
ENDING
30th
JUNE,
30th
JUNE,
2015
2015
30.06.15
30.06.15
NOTENOTE
10- OVERHEAD
10- OVERHEAD
EXPENSES
EXPENSES
Advertising
Advertising
13,140
13,140
Auditors'
Auditors'
RemunerationRemunerationAudit Audit
Services
Services
and Accounting
and Accounting
8,8008,800
AnzacAnzac
Commerations
Commerations
4,1504,150
Bad Debts
Bad Debts
0
0
Bank Bank
Charges
Charges
1,3301,330
BingoBingo
12,122
12,122
Cash Cash
Shortages/returned
Shortages/returned
cheques
cheques
837 837
Cleaning
Cleaning
and laundry
and laundry
22,409
22,409
Computer
Computer
Expenses
Expenses
7,8387,838
Courtesy
Courtesy
Bus Expenses
Bus Expenses
7,4797,479
Depreciation
Depreciation
162,571
162,571
Donations/Sponsorship
Donations/Sponsorship
21,218
21,218
Fuel and
FuelElectricity
and Electricity
130,325
130,325
-Annual
-Annual
LeaveLeave
Paid Paid
49,112
49,112
-Annual
-Annual
LeaveLeave
Provided
Provided
-6,119-6,119
-Long-Long
Service
Service
LeaveLeave
Paid Paid
21,171
21,171
-Long-Long
Service
Service
LeaveLeave
Provided
Provided
-16,783
-16,783
-Sick -Sick
LeaveLeave
Paid Paid
9,7119,711
Insurance-General
Insurance-General
38,198
38,198
InsuranceInsuranceWorkers
Workers
Compensation
Compensation
20,386
20,386
LegalLegal
Fees Fees
7,2997,299
Licenses
Licenses
and Subscriptions
and Subscriptions
13,373
13,373
Managers
Managers
Expenses
Expenses
1,8761,876
Members
Members
Amenities
Amenities
101,283
101,283
Payroll
Payroll
Tax Tax
9,8039,803
Postage
Postage
3,5373,537
Printing
Printing
and Stationary
and Stationary
12,015
12,015
Promotions/Raffles
Promotions/Raffles
5,7225,722
RatesRates
and Taxes
and Taxes
15,115
15,115
President/Directors
President/Directors
Expenses
Expenses
13,314
13,314
Repairs
Repairs
and Maintenance
and Maintenance
59,372
59,372
Staff Expenses
Staff Expenses
33,919
33,919
Staff Training
Staff Training
6,7966,796
Security
Security
5,6925,692
Springtime
Springtime
Luncheon
Luncheon
1,8011,801
Superannuation
Superannuation
ContributionsContributionsEmployees
Employees
73,677
73,677
Telephone
Telephone
13,278
13,278
WagesWagesAdministration
Administration
214,334
214,334
-Door-Door
75,762
75,762
-Cleaning
-Cleaning
88,117
88,117
-Courtesy
-Courtesy
Bus Bus
39,774
39,774
Workers
Workers
compensation
compensation
payments
payments
2,1762,176
Total Total
overhead
overhead
expenses
expenses
1,305,930
1,305,930
PAGE 28
30.06.14
30.06.14
6,0816,081
8,8008,800
0
0
384 384
1,2251,225
11,658
11,658
2,1442,144
25,837
25,837
8,1228,122
6,8686,868
143,905
143,905
29,887
29,887
150,400
150,400
59,615
59,615
-7,452-7,452
5,9295,929
6,7006,700
9,7619,761
39,660
39,660
23,652
23,652
5,6275,627
11,874
11,874
0
0
102,899
102,899
8,3118,311
1,6701,670
9,7579,757
-1,352-1,352
15,210
15,210
9,2709,270
54,929
54,929
28,154
28,154
4,2714,271
6,4636,463
0
0
70,537
70,537
12,728
12,728
201,169
201,169
75,365
75,365
84,781
84,781
44,589
44,589
0
0
1,279,428
1,279,428
ACN 001 054 735
ABN 90 001 054 735
STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
Revenue
Other Revenue
Cost of Sales
Other Income
Administration Expenses
Operating profit before income tax
Income tax attributable to operating profit
Operating profit after income tax
PAGE 29
2015
2014
634,457
1,770,740
-341,977
2,063,220
60,737
-1,985,739
138,218
0
138,218
672,667
1,863,113
-366,536
2,169,244
24,683
-2,007,672
186,255
0
186,435
FUNDING/SUPPORT RECIPIENTS 2014 / 2015
Narrandera East Infants
Narrandera Public School
Narrandera High School
Narrandera Public School
St Josephs P & A Association
Numeralla Wildlife Care
Narrandera Meals on Wheels
Legacy {Narrandera}
Narrandera Rescue Squad
Multiple Sclerosis Ltd
Narrandera Cricket Inc
Narrandera Swimming Club
Narrandera War Widows
Narrandera Over 50’s
Rotary Club - Circus Quirkus
Narrandera Karate Club
Baptist Community Services
Narrandera Lions Club
Narrandera Probus Club
Narrandera Line Dancers
Family & Community Services
Riverina AFL
Narrandera CanAssist
John O’Brien Festival Committee
Narrandera Landcare
Bendigo Bank - Narrandera
Lake Talbot Environs Committee
Teloca House
Pen to Paper Writers Group
Youth Off The Streets
Tirkandi Inaburra
Narrandera Rodeo
Bidgee Hurricanes
Narrandera UNISEX Darts
Narrandera Darts Association
Narrandera Pool Association
Narrandera Shire Council
Narrandera Tourism
Narrandera Business Group
Narrandera Community Radio
Narrandera Camera Club
Narrandera Race Club
The Cypress Centre
ANZAC – Sunshine Play
Leukaemia Foundation
Ladies Defence Class
Narrandera Pony Club
AFL South West Juniors
Narrandera Domestic Violence Committee
Foster Kinship Care & Support Group
Rockin on East Festival Committee
Narrandera Country Music Association
Narrandera Junior Rugby League
Narrandera Imperials Football/Netball Club
Classic Debutante Ball Committee
Narrandera Charity Debutante Ball Committee
Senior Citizens and Welfare Group
Narrandera Sportsperson of the Year Committee
Centenary of ANZAC Committee
Narrandera Returned Services League Sub Branch
PAGE 30
Mission Statement
1. Narrandera Ex-Servicemen’s Club is committed to providing high
quality services and amenities to members, guests, visitors and the
Narrandera community at large.
2. Our enthusiastic employees strive to build a progressive corporate
identity within the community through commitment to high levels
of customer satisfaction.
3. Narrandera Ex-Servicemen’s Club is committed to conducting our
business in compliance with the laws and regulations under which
we operate and by following the Registered & Licensed Clubs –
Code of Practice.
The requirements of the Code reflect the Club movements
underlying values of honesty, fairness, integrity, mutuality,
compassion and community.
PAGE 31

Ex-serviceBalance 2014-15 A5.indd

Transcription

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