annual report & balance...

ANNUAL REPORT

& BALANCE SHEET

FOR THE YEAR ENDING JUNE 30, 2015

CCRROONNUULLLLAA BBOOWWLLIINNGG && RREECCRREEAATTIIOONN CCLLUUBB LLTTDD

CRONULLA BOWLING & RECREATION CLUB LTD ABN 71 292 787 361

TRADING AS CLUB CRONULLA

LIFE MEMBERS MEN

ELECTED JOINED ELECTED JOINED

*HOWIE W. 1/8/47 1925 *CORDIN E.J. 21/8/70 1947

*JAMES W. 1/8/47 1925 *PUCKLE L.V. 11/8/49 1925

*LEE J. 1/8/47 1925 *ARCHER F.T. 21/8/70 1952

*MANGLESDORF C. 7/8/59 1932 *KENNEDY A.C. 30/8/71 1955

*SNELLING R.H. 1/7/50 1929 *MANGLESDORF L.J. 16/8/73 1934

*GRAHAM J.A. 6/8/53 1925 *DANIEL F.A. 30/8/74 1952

*BROWN N.A. 26/7/57 1943 *BRACKENRIDGE W. 27/8/78 1955

*KELLY J.P. 7/8/59 1938 *BECKETT J.S. 26/8/79 1955

*NAYLOR C. 7/8/59 1938 *PLITZ R.E. 26/8/79 1960

*ABEL A . 7/8/59 1929 *MANGLESDORF H.C. 29/8/82 1944

*BENJAMIN J.H. 5/8/60 1945 *MONK K.S. 18/9/83 1962

*BIDEWELL T.S. 5/8/60 1928 PENGELLY F.W. 18/9/83 1959

*PATTERSON L. 5/8/60 1928 *WHITTINGTON V.L. 9/9/84 1963

*KING W.P. 4/8/61 1945 *WEST R.T. 14/9/86 1951

*CARR J. 4/8/61 1945 *COPE C.H. 14/9/86 1961

*DUMONT E.L. 21/8/64 1938 WIGGINS R.B. 13/9/87 1956

*WALLACE W.B. 25/8/67 1941 *BOWMER R.G. 23/9/90 1976

*HUME F.R. 30/5/68 1958 *LOWY K. 23/9/90 1964

*POULSEN A.J. 3/8/68 1952 *GRANLEESE T.R. 1/7/93 1965

*RICHARDS R.A. 1/7/93 1981 *MARTIN L.H.J. 27/9/98 1964

THORNTON J. 29/10/06 1986 *CUSTERS J. 10/11/07 1994

CROSSLEY J. 25/9/2010 1991 GALLAGHER T. 6/10/2012 1988

WOMEN ELECTED JOINED ELECTED JOINED

*ARCHER V. 15/9/85 1952 *DAVIDSON J. 18/7/88 1962

*UPCROFT E. 18/7/88 1953 *McQUILLAN E. 11/9/99 1956

SAUNDERS B. 8/11/2008 1980 MONK V. 1/10/2011 1963

THORNTON .J 5/10/2013 1989

*indicates deceased member

CRONULLA BOWLING & RECREATION CLUB LTD

OFFICE BEARERS

Chairman Terry Gallagher

Deputy Chairman/Treasurer Ed Petty

Directors

David Hunt

John Longmuir

Daryl Young

Darrell Leeson

Peter Matthews

General Manager Peter Harper

41 Croydon Street Cronulla NSW 2230

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CRONULLA BOWLING & RECREATION CLUB LTD ACN 292 787 361

NOTICE OF ANNUAL GENERAL MEETING

TO BE HELD ON SATURDAY 10TH OCTOBER 2015 AT 9.30AM

IN THE GROUND FLOOR LOUNGE, 41 CROYDON STREET, CRONULLA

Notice is hereby given to all Life Members, Bowling Members and Social Members that they are entitled to attend and vote at the Annual General Meeting of Cronulla Bowling & Recreation Club Limited (“the Club”) to be held on the 10th October 2015 commencing at 9.30 am at the premises of the Club at 41 Croydon Street, Cronulla, New South Wales.

BUSINESS OF THE MEETING

1. To confirm the Minutes of the previous Annual General Meeting held on 18th October2014.

2. To confirm the Minutes of the General Meeting held on 21st March 2015.

3. To receive and consider the report of the Board of Directors and all associated reports.

4. To receive and consider the Annual Reports, Income & Expenditure, Accounts andBalance Sheet Financial year 2014-2015 and Auditor’s Report.

5. To declare the results of the election of the Board.

6. To appoint an Auditor or Auditors in the event that there be a vacancy in the office ofAuditor.

7. To approve the reimbursement of Directors' expenses and the payment of honorariums.8. To re-elect as Patrons, Mr Ron Wiggins Membership No. 8 and Mr Frank Pengelly OAM

Membership No. 6.

9. To deal with any other business of which due notice has been given to the members.

NOTES TO MEMBERS FOR ANNUAL REPORTING

1. The Annual Report including Income & Expenditure, Accounts and Balance SheetFinancial year 2014-2015 and Auditor’s Report will be available from the Club’s Office ordownloaded in PDF format from our website on or before 14th September 2015.Website: www.clubcronulla.com.au


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NOTICE OF ORDINARY RESOLUTIONS

FOR ANNUAL GENERAL MEETING

NOTICE is hereby given that at the Annual General Meeting of CRONULLA BOWLING & RECREATION CLUB LIMITED to be held on 10th October 2015 commencing at 9.30am at the premises of the Club, 41 Croydon Street, Cronulla, New South Wales, the members will be asked to consider and if thought fit pass the following resolutions which are proposed as Ordinary Resolutions:

FIRST ORDINARY RESOLUTION “That the members hereby approve the payment of an honorarium for the Chairman of the Club for the year 2015-2016 in the sum of $6,000.00.”

SECOND ORDINARY RESOLUTION “That the members hereby approve the payment of an honorarium for the Treasurer of the Club for the year 2015-2016 in the sum of $3,000.00.”

THIRD ORDINARY RESOLUTION That for the purposes of the Registered Clubs Act: 1. The members hereby approve and agree to expenditure by the Club in a sum not

exceeding $30,000.00 until the next Annual General Meeting of the Club for the following activities of Directors: (a) The reasonable cost of a meal and beverage for each Director immediately before

or immediately after a Board or Committee meeting on the day of that meeting when that meeting corresponds with a normal meal time.

(b) Reasonable expenses incurred by Directors in travelling to and from Directors’ meetings or other duly constituted committee meetings as approved by the Board from time to time on production of invoices, receipts or other proper documentary evidence of such expenditure.

(c) Reasonable expenses incurred by Directors in relation to such other duties including entertainment of special guests to the Club and other promotional activities performed by Directors which activities and the expenses there from are approved by the Board before payment is made on production of receipts, invoices or other proper documentary evidence of such expenditure.

(d) The reasonable cost of Directors attending club industry meetings, seminars, lectures, trade displays and courses of instruction or education for directors and managers and other similar events as may be determined by the Board from time to time as being beneficial to the Club.

2. The members acknowledge that the benefits in paragraph 1 of this resolution are notavailable to members generally but only for those who are Directors of the Club.


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NOTES TO MEMBERS

These notes are to be read in conjunction with the proposed Resolutions:

1. The First Resolution is to have the members in General Meeting approve payment of anhonorarium of $6,000 to the Chairman of the Club.

2. The Second Resolution is to have the members in General Meeting approve payment of anhonorarium of $3,000 to the Treasurer of the Club.

3. The Third Resolution is to have the members in General Meeting approve an amount nogreater than $30,000.00 for the expenditure by the Club for Directors to attend seminars,lectures, trade displays and other similar events including the Registered Clubs Associationof New South Wales Annual General Meeting and to visit other clubs to enable the Club’sgoverning body to be kept abreast of current trends and developments which may have asignificant bearing on the nature and way in which the Club conducts its business.

4. To be passed each ordinary resolution must receive votes in its favour from not less than asimple majority of those members, who being entitled to do so, vote in person at themeeting.

By direction of the Board

Dated: 27th August 2015 Signed:

Peter Harper Secretary Manager


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NOMINATION FOR BOARD OF DIRECTORS 2015-2018

Nominations for the positions of two (2) Directors for the Board for a period of three years will be accepted from qualified nominees as detailed hereunder. Nomination forms are to be personally collected by each nominee and will be available from the Club’s Office between the hours of 10.00am and 4.30pm Monday 21st September 2015 through to 4.00pm Friday 25th September 2015.

Nomination forms MUST be received personally by the General Manager no later than 4.00pm on Friday 25th September 2015. No nomination forms will be accepted after this date and time. If required, the Ballot draw will be conducted at 3pm on Friday 2nd October 2015 and any financial member may witness the draw.

Pursuant to the Club’s Constitution Rules 24.2(c), 24.3 (a), (b) and (c) and 24.4 nomination forms can only be accepted from qualified nominees who;

I. Are not employees of the Club. II. Have been members of the Club for at least twelve (12) months and whom are a

financial member as at the date they were nominated for election. III. Are currently not under suspension from the Club.IV. Have agreed in writing to abide by the Code of Practice.

All applicants nominating for the Board of Directors are advised that all nominations will be subject to legislative requirements.

ELECTION TIMES FOR OFFICE BEARERS 2015-2018

STARTS: 3.00 pm MONDAY 5TH OCTOBER 2015 FINISHES: 5.00 pm FRIDAY 9TH OCTOBER 2015

MONDAY 05/10/2015 3.00 pm TO 6.00 pm

TUESDAY 06/10/2015 12.00 pm TO 4.00 pm

WEDNESDAY 07/10/2015 2.00 pm TO 5.00 pm

THURSDAY 08/10/2015 12.00 pm TO 4.00 pm

FRIDAY 09/10/2015 2.00 pm TO 5.00 pm

(Election Booth and Returning Officer will be located on the Main Floor of the Club during the above hours)

The AGM will take place on Saturday 10th October 2015 Commencing at 9.30am sharp.

CHAIRMAN'S REPORT

Dear fellow members,

Yet again we have completed another financial year and I believe we have delivered to the members a safe and comfortable environment for all to enjoy. The overall advantages of happy hours 'Two for One' meals in our first class restaurant, money back raffle on Thursday nite and above all no increase in beer pricing since June 2014, Why wouldn't you be a member of Club Cronulla??

It seems only yesterday that we were all in disarray over our storm damage nearly two years ago in November 2013. I cant believe how time fly's but we have gradually worked our way back to our wonderful club and trying to support our members who supported us during the hard times.

On a personal note, congratulations to our bowling members male and female who all have enjoyed their bowls but also the strong social side of the club.

Many thanks to my fellow directors, who have given their time and efforts for which has been a very difficult year for all.

On behalf of the Board and myself I would like to thank our General Manager Peter Harper, Operations Manager George Nassar, Mandy, Ross, Tiana, Amy and bar staff, all of whom have certainly given Club Cronulla an excellent name in the club industry. I can assure you from comments I have received, it is always a pleasure to come to Club Cronulla. To our greenkeepers, a great effort! You have had major issues this year with the greens, which has been beyond your control but you have keep the Board informed and worked tirelessly through the problems, Thanks Again.

Thanks to Mr Ed Petty, who has done an excellent job as Treasurer and has worked closely with our Peter Harper to improve and carefully monitor the financial side of our club.

In closing I can assure members that your club is in good hands and the Directors and Management are working at all times for the best interest of the club and its members. We will continue to maintain our bowling greens and services to the best of our abilities to ensure all future success.

Once again, thank you for your support.

Terry Gallagher Chairman

TREASURER'S REPORT Once again it is my pleasure and privilege to present this year's Financial Statements for the period ending 30th June 2015. I will at the Annual General meeting give a more detailed report on all the areas of the Club, but in saying that, it was pleasing to see the bar sales up by $129,151, approx 10% on last year's figures. Obviously the beer is cold and more importantly the Board has elected to absorb all the previous CPI increases during the last 12 months. Gaming operations are down, but I think that our economy at the moment has affected all businesses in people spending their disposable income. Again, I will expand further at the Annual General Meeting. Our bowling fraternity, both men and women, need to be congratulated on their success in their pennants competitions. You have done us proud and all would agree our bowling club is going from strength to strength and that is due the increased enthusiasm and camaraderie with all bowlers. My sincere thanks to all Directors who have given their valuable time and effort in the running of the Club. I can ensure all members the Board is continuously thinking of our future and further improvements to the Club. I would like to thank the General Manager Peter Harper, Mandy and George for their time and effort in the day to day operations. To Ross, Tiana, Amy, bar staff and greenkeepers once again you all are much appreciated for your collective efforts. Members you have all demonstrated your support to the Club not just over the last 12 months but over the last few years with all our difficulties in storm damage. You have all proven to be very loyal Club members. Finally, see you all at the AGM on October, 10 2015 at 9.30am. Best wishes Edwyn Petty Treasurer

GENERAL MANAGER'S REPORT

Members,

Well another financial year over and I am pleased to report that we are now starting to turn the corner after our storm damage of November 2013. The Club has been trading reasonably well but we have had a number of expenses beyond our control which of course has affected our trading profit. I will, like I normally do, leave the financial reporting to our capable Treasurer Mr Edwyn Petty.

Of course every year brings with it new challenges and changes to legislation. The new "Smoking Rules" are now enforced and we need to ensure we comply, so members please follow the signage areas. The Club has always endeavoured to give the members value and quality for their money and this year we have maintained our bar pricing, restaurant promotions (2 for 1 a la carte menu), steak nights and money back raffles just to name a few, all coupled with an excellent free entertainment program. Only with the help of all our bar and restaurant staff are we able to bring these promotions to you in a professional manner. Many thanks to all staff.

To George and Mandy, Ross, Tiana and our special friend Amy who have all been a major part over the years of the Club's success, a big thank you to you all. I certainly appreciate your efforts. To Glen and Peter, our greenkeepers, thanks for your efforts in maintaining our excellent greens.

To my Chairman Terry and Directors, I thank you for making my job a lot easier by giving me your support and guidance in the general management of the Club.

Finally, to all members, we will strive to continue to make Club Cronulla an even better Club in the coming years. Once again thanks for your support.

Peter Harper General Manager


Minutes of Annual General Meeting

Date: Saturday, 18th October 2014

Meeting Commenced: 9.30am

Present: 56 Members in attendance Chairman, Terry Gallagher Deputy Chairman & Treasurer, Edwyn Petty Directors; David Hunt, John Longmuir, Leanne O’Brien, Daryl Young. Peter Harper, General Manager Minute Secretary, Mandy Valkenburg Returning Officer, Ivor Jones

Welcome: The Chairman welcomed Members to the meeting and acknowledged special attendees – Patrons, Ron Wiggins; Cronulla Men’s Bowling Club President, Daryl Young; Cronulla Womens Bowling Club President, Lynette Petty, Life Members and Auditor Jason Maher. Mr Ron Wiggis told the meeting that he had spoken to Herb Manglesdorf, who is unable to attend the meeting.

Apologies: Chairman Mr Terry Gallagher apologised on behalf of Herb Manglesdorf.

Departed Members: One minute silence observed for departed Members

Correspondence Inwards: 1. Letter from Cronulla Men’s Bowling Club regarding lifemembership of Mr Raymond Newcombe to bediscussed later in the meeting.

Minutes of Previous Annual General Meeting:

Minutes of Annual General Meeting held on 5th October, 2013 be taken as read and received.

Moved Felix Vogelnest, Seconded June Thornton that the minutes be received.

CARRIED.

Buisiness Arising from Minutes:

There was no business arising from the minutes.

Moved Ron Wiggins, Seconded John Crossley that the Minutes be adopted.

CARRIEDAnnual Reports & Balance Sheet:

Moved Ron Wiggins, Seconded John Thornton that the Annual Report and Balance Sheet be received.

CARRIED

Moved Ron Wiggins, Seconded Bryan Lewis that the Annual Report and Balance Sheet be adopted.

CARRIED

Treasurer’s Report: Treasurer Edwyn Petty welcomed the meeting attendees and thanked Auditor Jason Maher for all his help in preparing the Annual Report.

Ed reminded the meeting that the storm damage the Club received in late November 2013 gave the Club limited trading during what would normally be a busy Christmas period. For this reason the overall trading was down this year compared to previous years.

Ed read through the departmental trading and non trading income for the year ending 2014.

Total trading income of $984,411 this year compared to $1,322,014 for the 2013 financial year. Ed noted that the Bowls trading was up by approximately $2,500 from the previous year and thanked the success of the Ladies Saturday Bowls which has also contributed to the bar sales. Non trading income such as subscriptions, supplier rebates, commissions and including $811,411 of Insurance recoveries was $1,047,775, giving a total income for the year of $2,032,186 compared to $1,626,895 for the previous year.

Expenses for the year totalled $2,037,962 and included Storm Damage, Repairs and Maintenance of $607,010 and Storm Damage write off of Assets of $85,000. Insurance Recoveries income of $811,411 less Storm Damage expenses of $692,010 gave a balance of $119,401 toward our profit, however the Club spent in excess of $250,000 toward betterment of the Club that was not covered by insurance. The insurance paid for replacement cost, so for instance the wall behind was originally painted and replacement cost to repaint was $1,000, but the Club decided to wall paper instead at a cost of $1,500 the Club would be liable for the $500 Betterment Cost.

The total loss for the financial year being (5,776).

Our Auditors had a requirement to close off our financial statements for the 2014 year, however since this time the Insurance has paid a further $190,000 which will be carried forward to the 2015 financial year. This money will be put toward the replacement of the air-conditioning unit and repair the roof where the unit sits.

Our Bank borrowings at 30th June 2014 were $1M at 5.51% and $583K at 5.34% and are to be renegotiated in January 2015. Since the end of the financial year the Club has paid $200,000 toward the smaller loan and now stands at $383K.

Many thanks go to Peter, George and Mandy and to all of our wonderful staff. Thank you to our Directors for their help and support throughout the year. Most of all thank you to all our Members who have remained loyal throughout our disruptions.

Moved Bryan Lewis, Seconded Felix Vogelnest, that the Treasurer’s Report be received and adopted.

CARRIED.Members' Resolution for Life Membership:

Chairman Mr Terry Gallagher addressed the meeting and announced that the Board of Directors had received a letter of notice of motion to elect Mr Ray Newcombe for Life Membership of Cronulla Bowling & Recreation Club Limited and in accordance with the rule 10.21 of the Club’s Constitution, the Board of Directors of Cronulla Bowling & Recreation Club Limited has approved the nomination of Mr Ray Newcombe. Mr John Crossley spoke in support of the motion on behalf of the members.

Terry Gallagher asked Mr Ray Newcombe to leave the meeting whilst the members voted by way of written ballot. The ballot was counted by Returning Officer Ivor Jones and was a 100% yes vote.

CARRIED.

Mr Ray Newcome thanked all who initiated and voted on this motion. Ray said he didn't ever expect such an honour and feels very grateful.

Election of Patrons: Chairmand Mr Terry Gallagher recommended to the meeting that Herb Manglesdorf and Ron Wiggins be re-elected Patrons of the Club for the 2014-2015 year.

Mr Ron Wiggins stood and accepted the position as Patron and told the meeting that he had spoken to Mr Herb Manglesdorf who said that he would also accept the position as Patron. Ron thanked the Board and Members for their re-election as Patrons of the Club for both himself and on behalf of Herb.

Notice of First Ordinary Resolution:

“That pursuant to Article 33 the Members hereby approve the payment of an honorarium for the Chairman of the Club for the Financial Year 2014-2015 in the sum of $6,000.”

All in favour that the first resolution be adopted. CARRIED.

Notice of Second Ordinary Resolution:

“That pursuant to Article 33 the Members hereby approve the payment of an honorarium for the Treasurer of the Club for the Financial Year 2014-2015 in the sum of $3,000.” All in favour that the second resolution be adopted.

CARRIED.

Notice of Third Ordinary Resolution:

That for the purposes of the Registered Clubs Act:

1. The Members hereby approve and agree toexpenditure by the Club in a sum not exceeding$30, 000 until the next Annual General Meeting of theClub for the following activities of Directors:a) The reasonable cost of a meal and beverage

for each Director immediately before or immediately after a Board or Committee meeting on the day of that meeting when that meeting corresponds with a normal meal time.

b) Reasonable expenses incurred by Directors intravelling to and from Directors’ meetings or other duly constituted committee meetings as approved by the Board from time to time on production of invoices, receipts or other proper documentary evidence of such expenditure.

c) Reasonable expenses incurred by Directors inrelation to such other duties including entertainment of special guests to the Club and other promotional activities performed by Directors which activities and the expenses there from are approved by the Board before payment is made on production of receipts, invoices or other proper documentary evidence of such expenditure.

d) The reasonable cost of Directors attendingclub industry meetings, seminars, lectures, trade displays and courses of instruction or education for directors and managers and other similar events as may be determined by the Board from time to time as being beneficial to the Club.

2. The members acknowledge that the benefits inparagraph 1 of this resolution are not available tomembers generally but only for those who areDirectors of the Club.

All in favour that the third resolution be adopted. CARRIED.

Election of Three Board of Directors:

Mr Ivor Jones announced the results of the ballot for the three positions for the Board of Directors for the 2014 – 2017 period. Ivor said that not since 2002 when there were 268 votes did we achieve over 260 votes. This year there were 262 formal votes and 1 informal vote with the results as follows; David Hunt – 139 votes Stephen Molloy – 128 votes Geoffrey Bush – 110 votes Leanne O’Brien – 128 votes John Longmuir – 135 votes Peter Matthews – 140 votes

Chairman Mr Terry Gallagher thanked Ivor Jones for his time. Terry congratulated the elected Directors and thanked the other candidates for their applications.

Election of Chairman: Chairman, Mr Terry Gallagher called on Patron Mr Ron Wiggins to take the chair for the elections of Chairman.

Mr Terry Gallagher – nominated for a Chairmanship of the Club by David Hunt, Seconded by Edwyn Petty.

There were no further nominations.

Mr Terry Gallagher was re-elected unopposed as Chairman of the Club.

Mr Terry Gallagher accepted the nomination and thanked the members for their support. Terry also thanked his fellow directors, particularly Edwyn Petty in his role as Treasurer, Peter Harper, George Nassar Mandy Valkenburg, greenkeepers, and bar and kitchen staff.

CARRIED.

Election of Deputy Chairman/Treasurer:

Mr Edwyn Petty - nominated by Terry Gallagher, Seconded by Daryl Young.

There were no further nominations.

Mr Edwyn Petty accepted the nomination and thanked the members.

,

Mr Terry Gallagher thanked the members and said that it is good to have the consistency in the Board so that three - five year plans remain consistent.

CARRIED.

Re-Election of Club Auditors:

Chairman Mr Terry Gallagher motioned that the Club Auditors Maher Partner Assurance Pty Ltd remain the same for the following year.

CARRIED.

General Business: Mr Ron Wiggins addressed the meeting and said that Social Members are not allowed on the greens and that he thinks there is not enough effort by the Board to encourage new bowlers to join.

Mr Terry Gallagher said that they are entitled to have one month trial accompanied by an official coach.

Ron said that it was against the constitution.

Terry read from the constitution 10.12 (b) which states that Social members are not entitled to play bowls on the club's bowling greens, other than as determined by the Board from time to time. Terry also mentioned that they can also play bowls via a Bowls Party.

Ron said that a social member accompanied by a full bowling member still has to pay $17.50 to roll-up. Ron said that there should be more 'Official' coaches.

Terry Gallagher said that his view was noted.

There was no further business at the request of the Chairman.

Meeting closed: The meeting closed at 10.15am

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Minutes of General Meeting

Date: Saturday, 21st March 2015

Meeting Commenced: 10.00am

Present: 71 Bowling Members in attendance Chairman, Terry Gallagher Directors; David Hunt, John Longmuir, Peter Mathews, Daryl Young, Darrell Leeson. General Manager, Peter Harper Minute Secretary, Mandy Valkenburg Returning Officer, Ivor Jones Club's Constitutional Lawyer, Mr John Ralston

Welcome: The Chairman welcomed Directors, Members, Mr John Ralston and Ivor Jones.

Mr Gallagher explained that there will be a limit of 2 minutes For and Against for each Special Resolution. Terry said that in the event that there is no discussion, the voting for each special resolution will be either by way of show of hands or secret ballot.

Mr Ron Wiggins declared that the Chairman was out of order as a Special Resolution must be by way of secret ballot.

Mr John Ralston said that the Special Resolutions can be declared by way of show of hands.

Mr Wiggins asked Mr Ralston to point out where in the Constitution does it say that.

Mr Ralston read from the Club's Constitution clause 33.17 and agreed with Mr Wiggins that the voting must be by way of secret ballot.

Apologies: Mr Chris Brannock, Mr Frank Pengelley, MrEd Petty, Mr & Mrs Steve & Lee-Ann Scott.

1st Special Resolution: Mr Gallagher read the 1st Special Resolution, as was sent to the Members, and asked that the motion be moved to receive the 1st Special Resolution.

Moved Bryan Lewis, Seconded Felix Voglenest that the 1st Special Resolution be received.

Mr Wiggins asked whether each part of this Resolution is voted on separately, as in part (a), (b), (c), (d).

Mr Ralston said that no it will be dealt with on it's entirety. If members are against any one part then they would vote against the Resolution.

Mr Ron Wiggins spoke against the 1st Special Resolution saying that the 1st resolution is not consistent with our aim. Bowing qualifications and affairs rightly belong in the C.M.B.C's Constitution. This is supported by the original constitutions of 1988 & 1991of both clubs that each be independently separate. The C.M.B.C providing Full Bowling Members to the C.B. & R.C Limited, as per clause 4 of their Constitution. The Bowling Clubs look after the bowling matters and the Social Club look after the Social and financial matters. If it's not broken, don't try to fix it.

Clauses 10.3 & .3.1 (g) define a Full Bowling Member. Bowlers not meeting the requirements of clause 4 of the C.M.B.C Constitution, such as Multi-Members without clearance from R.N.S.W.B.A to play for Cronulla are restricted members and as such are ineligible to nominate for Directorship as a Bowler.

In point 7 in notes to member of this motion it states "The Board is concerned that Social Members have in the past transferred to Bowling Membership." Clause 11.1 & 11.3 - 'Transfer Between Classes of Membership' in C.B.&R.C current Constitution shows the Board must have sanctioned and approved the transfer of 2 Women Directors and 1 Male Social member to Bowling Members. All 3 members did not meet the requirements for Full Bowling members under the Constitutions of both C.W.B.C and C.M.B.C and therefore could not be candidates for election to the Board as Bowling Members.

This Constitution is a sound legal document and all possible contingencies which the Board fears are already covered within. If the Board wishes for clearer and safer determination of what constitutes a Full Bowling Member then have the C.M.B.C. insert under Clause 4 of their Constitution, "Only Bowlers who have played Pennant for Cronulla can nominate for the election to the Board as a Bowling Member.

Mr Barry Vandenbergh also spoke against the 1st Special Resolution and asked how the 12 games per year would be policed. Mr Gallagher said that they would devise a spreadsheet that would tally the games.

Voting slips were counted by Mr Ivor Jones which resulted in 54 Members For and 17 Members Against.

1st Special Resolution passed and adopted.

2nd Special Resolution: Mr Gallagher read the 2nd Special Resolution, as was sent to the Members, and asked that the motion be moved to receive the 2nd Special Resolution

Moved Mr Ross Coady, Seconded Mr Bryan Lewis that the 2nd Special Resolution be received. Mr Wiggins said that the Club's Constitution already allows for this. Mr Barry Vandenbergh said that if there were 2 Social Directors already on the Board and a Bowling Director wished to, or no longer qualified to be a Bowling Member then they would have to resign from Directorship as the Constitution only allows for 2 Social Directors. Voting slips were counted by Ivor Jones which resulted in 59 Members For and 9 Members Against & 1 informal vote

2nd Special Resolution passed and adopted.

3rd Special Resolution: Mr Gallagher read the 3rd Special Resolution, as was sent to the Members, and asked that the motion be moved to receive the 3rd Special Resolution.

Moved Mr Bryan Lewis, Seconded Mrs Jacqueline Gerard that the 3rd Special Resolution be received. Mr John McFarlane said that he has done work for the Club in the past and he would therefore have to resign from membership of the Club. Mr Terry Gallagher said that it would be up to the Board's discretion. Mr Ralston said that it would only affect new membership. Mr Barry Vandenbergh asked whether the motion was put forward by the General Manager or the Board of Directors? Mr Gallagher said that it was by the Board of Directors. Mr Vandenbergh spoke against the 3rd Special Resolution using the example of the Club's Solicitors Gibson Howlin. Should a new Solicitor join the Company and wishes to join the Club, he would not be permitted. Whether supplier or employee of a supplier this would could not be monitored. Mr Ray Cowley asked how this would be controlled? The Chairman said there would be a new Membership Application Form produced. Ray said that it would be impossible to monitor, is undemocratic and would contravene the rights of privacy. Mr Ross Coady suggested that as the Board of Directors have put this Resolution forward, that maybe one of the Directors should speak? There was no further discussion.

Voting slips were counted by Ivor Jones which resulted in 6 Members For and 65 Members Against.

3rd Special Resolution defeated. Chairman, Mr Terry Gallagher thanked the Members for their attendance and thanked both Mr Ralston and Mr Jones for their attendance.

Meeting Closed: 11.10am

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IMPORTANT INFORMATION FOR CLUB MEMBERS Cronulla Bowling and Recreation Club, Licence No. 226719 The Reporting Period Ending 30th June 2015 1 IMPORTANT NOTES 1.1 The Registered Clubs Act 1976 defines a TOP EXECUTIVE as being one of the five highest paid employees of the club. 2. DISCLOSURE OF INTERESTS OF DIRECTORS IN CONTRACTS WITHTHE CLUB SECTION 41C 2.1 Club members may inspect the original of these disclosures and declarations by making a written application to the Secretary. 2.2 The Registered Clubs Act 1976 requires DIRECTORS who have a material personal interest in matters that relate to the affairs of the club to declare the interest at a board meeting AND the club to display the declaration on the club’s notice board. 2.3 A contract is any commercial arrangement whether written or not. 2.4 In the reporting period there were Nil occasions when DIRECTORS reported a material personal interest in a matter relating to the Club’s affairs. 3 FINANCIAL INTERESTS IN HOTELS – SECTION 41D 3.1 Club members may inspect the original of these disclosures and declarations by making a written application to the Secretary. 3.2 In the reporting period there were 0 occasions when DIRECTORS reported a financial interest in a hotel in NSW. 3.3 In the reporting period there were 0 occasions when TOP EXECUTIVES reported a financial interest in a hotel in NSW. 4 GIFTS TO DIRECTORS AND STAFF – SECTION 41E AND SECTION 41F 4.1 Club members may inspect the original of these disclosures and declarations by making a written application to the Secretary. 4.2 An affiliated body of the club includes subsidiary clubs, and any body which the club made a grant to within the previous 12 months. 4.3 A gift includes money, hospitality or discounts. 4.4 A gift valued at more than $500 must be disclosed; gifts from CONTRACTORS must be disclosed if they total more than $500 from an individual contractor in the reporting period. 4.5 Directors 4.5.1 In the reporting period there were 0 occasions when DIRECTORS of the club reported receiving gifts from AFFILIATED BODIES. 4.5.2 In the reporting period there were 0 occasions when DIRECTORS of the club reported receiving gifts from CONTRACTORS. 4.6 Top Executives and Employees 4.6.1 In the reporting period there were 0 occasions when TOP EXECUTIVES of the club reported receiving gifts from AFFILIATED BODIES. 4.6.2 In the reporting period there were 0 occasions when EMPLOYEES of the club reported receiving gifts from CONTRACTORS. 4.7 Value of Gifts 4.7.1 The total value of all gifts that DIRECTORS and TOP EXECUTIVES received from AFFILIATED BODIES in the reporting period is $0. 4.7.2 The total value of all gifts that DIRECTORS and EMPLOYEES received from CONTRACTORS in the reporting period is $0. 5 TOP EXECUTIVES – S.41 H (I)(b) 5.1 In the reporting period the following TOP EXECUTIVES received total remuneration above $100,000: 1 6. OVERSEAS TRAVEL6.1 In the reporting period the club incurred the following costs for the overseas travel of DIRECTORS and EMPLOYEES: 0 7 LOANS TO STAFF – S.41H (I)(d) 7.1 The Registered Clubs Act 1976 restricts the club to providing loans to EMPLOYEES to less than $10,000.

7.2 In the reporting period, the club made the following loans to EMPLOYEES: 0 8 CONTRACTS APPROVED BY BOARD – S.41H (I)(e) 8.1 The Registered Clubs Act 1976 defines a Controlled Contract as being a club contract: 8.1.1 > in which a DIRECTOR or TOP EXECUTIVE has a pecuniary interest, or 8.1.2 > for provision of professional advice relating to the following, a) significant change to management structure or governance of the club;b) significant change to the financial management of the club;c) disposal of land; andd) the amalgamation of the club.8.2 During the reporting period 0 controlled contracts were approved by the Board and forwarded to the Director of Liquor and Gaming, of which: 8.2.1 NIL such contracts related to contracts in which a DIRECTOR or TOP EXECUTIVE has a pecuniary interest. 8.2.2 NIL such contracts related to the provision of professional advice. These contracts fall into the following advice categories. 8.2.3 NIL significant change to the management structure or governance of the club. 8.2.4 NIL significant changes to the financial management of the club. 8.2.5 NIL disposal of club land. 8.2.6 NIL amalgamation of the club. 9 EMPLOYEES RELATED TO DIRECTORS AND TOP EXECUTIVES – S.41 H (I)(f) 9.1 A CLOSE RELATIVE is defined in section 41 b of the Registered Clubs Act 1976 and includes the immediate family. 9.2 In the reporting period, the club employed the following persons who were a close relative of a DIRECTOR or TOP EXECUTIVE of the club: 0. 10 PAYMENTS TO CONSULTANTS – S.41H(I)(g) and (h) 10.1 During the reporting period there were 0 instances where the club engaged a consultant. 10.2 The total cost paid by the club to consultants in the reporting period was $0. 10.3 Which included the following instances when consultants were paid $30,000 or more. 11 DETAILS OF SETTLEMENTS PAID BY THE CLUB – S.41H (I)(i) 11.1 In the reporting period the club made 0 legal settlements with either a director or club employee. Being: 11.1.1 0 with a director of the club. 11.1.2 0 with a club employee. 11.2 The total value of all legal settlements was $0. 11.3 The total legal costs paid by the club for such settlements was $0. 12 LEGAL FEES PAID BY THE CLUB – S.41 H (I)(o) 12.1 In the reporting period, there were 0 instances when the club paid legal fees for DIRECTORS and EMPLOYEES. This included: 12.1.1 0 instances for DIRECTORS and 12.1.2 0 instances for EMPLOYEES 12.2 In the reporting period the club paid a total of $0 being for legal fees paid for DIRECTORS and EMPLOYEES. 13 GAMING MACHINE PROFIT – S.41H (I)(k) 13.1 Gaming machine profit is defined in the Gaming Machine Tax Act. 13.2 The reporting period is the financial year ending 30th June 2015. 13.3 The club recorded a gaming machine profit of $1,291,738. 14 AMOUNT PAID TO COMMUNITY DEVELOPMENT – S.41H (I)(l) 14.1 Clubs earning in excess of $1,000,000 p.a. in a gaming machine profit can apply part of such profit to community development support. 14.2 In the reporting period the Club applied $14,063 to community development and support.

CRONULLA BOWLING & RECREATION CLUB LIMITED ABN: 71 292787917

FINANCIAL REPORT FOR THE YEAR ENDED

30 JUNE 2015


CONTENTS Directors' Report

Auditor's Independence Declaration

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Statement of Cash Flows

Notes to the Financial Statements

Directors' Declaration

Auditor's Report

Auditor's Disclaimer

Detailed Profit and Loss Statement

Departmental Trading, Profit and Loss Statement

4

5

6

7

8

9

25

26

28

29

32

25

28

29

30

31

32

33

49

50

52

53

56


DIRECTORS' REPORT

Your directors present their report on the company for the financial year ended 30 June 2015.

Directors

The following directors have been in office for the entire financial year unless otherwise stated below and attended the recorded board meetings

Name of Director Club Position Total number of Total number of Directors' Directors' meetings meetings Whilst in attended Office

T. Gallagher Chairman 12 12

E. Petty Treasurer 10 12

D. Hunt Director 11 12

J. Longmuir Director 12 12

D. Young Director 10 12

D. Leeson Director 8 12

P. Matthews (Appointed 18/10/14) Director 8 9 L. O'Brien (Resigned 18/10/14) Director 3 3

Number of Directors meetings 12

Information on Directors

Name of Director Qualifications Experience

T. Gallagher Retired Current Chairman of Cronulla Bowling & Recreation Club Limited. Member of the Board of Directors for 20 years Committee member of Cronulla Men's Bowling Club. Responsible for Occupational Health and Safety.

E. Petty Retired Current Treasurer of Cronulla Bowling & Recreation Club Limited . Member of the Board of directors for 10 years. Past experience: Treasurer of the Rotary Club for 5 years.

D. Hunt Retired Current House and Grounds Director of Cronulla Bowling & Recreation Club Limited. Member of the Board of directors for 14 years.

J. Longmuir Accountant Current Director of Cronulla Bowling & Recreation Club Limited and assistant to Treasurer. Member of the Board of Directors for 5 years. Previous experience: Bankstown Golf Club Director for 8 years.

p. Young Leasing 1 Fleet Manager Club Director for 2 Years . D. Leeson Executive Business Banking Club Director for 2 Years . P. Matthews Retired 43 Years NSW attorney Generals Department. 37 Years as

Coroner. Secretary Mens Bowling Club 3 Years.


DIRECTORS' REPORT

Operating Results The loss of the company for the financial year after providing for income tax amounted to $39,967.

Objectives The objectives of Cronulla Bowling & Recreation Club Limited are to provide members and guests a bowling, recreational and social club that offers quality services and facilities. Our goal is to provide quality food in our Forty-One Dining, high level of service from our staff and good entertainment, raffles and promotions to benefit our patrons' experience. The Club aims to encourage our sporting facilities by maintaining our bowling greens to a high standard, by seeking and providing sponsorship of bowling tournaments and by offering social and charity bowls days.

Short Term - To maintain membership in both the social club and bowls sub-clubs. - To continue to improve facilities and members experience in the Club. - To reduce the Club's borrowings and increase cash reserves.

Long Term - To increase Club membership. - To improve and expand Club facilities. - To maintain financial stability. - Diversify income sources.

Strategies for acheiving objectives - To continue to evaluate the Club's entertainment and promotional activities. - To review suppliers and contractor payments in an effort to maintain, and where possible, reduce expenditure . - Ongoing training of staff and assessment of Club's procedures.

Principal Activities The principle activities of the Club during the course of the financial year consisted of the conduct and promotion of a licensed social and sporting club and the provision of sporting and recreational facilities to members of the club and their guests.

There was no significant change in the nature of the activities of the Club during the financial year.

How these activities assist in achieving the objectives The principle activities of the Club contributed to achieving the objectives by providing a stable financial position which enabled the Club to maintain and upgrade our facilities and services for members and their guests.

Performance measurement and key performance indicators The Club's financial performance is measured against the set budget and benchmark data from the club industry. The key performance indicators evaluated are gross profit percentages, wages costs and ratios, membership and visitor statistics and cash flow.

The non financial performance is assessed by members' feedback, staff turnover, industry comparisons, and market research .


DIRECTORS' REPORT

Members' limited liability The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is wound up the constitution states that each member is required to contribute a maximum of $5.00 towards meeting any outstanding obligations of the entity. At 30 June 2015 the total amount that members of the company are liable to contribute if the company is wound up is $5,405.

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 on page 4.

Signed in accordance with a resolution of the Board of Directors:

Director: T. Gallagh

Director: tR.fuIMJ E. Petty

Dated this 6th day of August 2015

Maher Partners :\ .. ; ~-:', ' [ I ,,"; , -I r ", r) i "I t I', i "I I: 1 .,,;' i .', J _,'ft· .... ~~ \ , .. , .. ! \,' ~ I', l.~.- .. ~

I>.ssurance I Audit Services

AUDITOR'S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001

TO THE DIRECTORS OF CRONULLA BOWLING & RECREATION CLUB LIMITED

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2015 there have been:

(i) no contraventions of the auditor independence requirements of 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.

Maher Partners Assurance Pty Limited

Jason Maher

Taren Point


Maher Partners Assurance Pty Limited ABN 34 136 549 3561 Suite 5B, Level 1, 1 Box Road, Taren Point NSW 2229 I PO Box 2257, Taren Point NSVV 2229 Phone: +61285224500 I Fax +6128522 4599 I Email admin@maherpartners com, au

~ Chartered ~ Accountants


STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2015

Revenue Other income

Cost of sales Advertising expenses Auditor's remuneration Depreciation and amortisation expenses Directors' fees Employee benefits expenses Finance costs Lease expenses Other expenses Loss for the year

Total comprehensive income for the year

Total comprehensive income attributable to members of the entity

Note

2 2

4

3

4 4

4

2015 $

3,201,802 13,877

3,215,679

(548,648) (6,672)

(23,475) (391,499)

(27,680) (409,784) (104,195)

(22,573) (1,721 ,120)

(39,967)

(39,967)

(39 ,967)

The accompanying notes form part of these financial statements.

2014 $

3,617,822 22,093

3,639,915

(491 ,277) (7,175)

(23,514) (347,076)

(25,188) (396,625)

(98,211 ) (18,727)

(2,237,898) (5,776)

{5,776}

(5,776)


STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2015

2015 2014 Note $ $

ASSETS CURRENT ASSETS Cash and cash equivalents 5 115,745 131 ,380 Trade and other receivables 6 7,545 180,645 Inventories 7 66,608 75,600 Other current assets 8 12,836 12,309 TOTAL CURRENT ASSETS 202,734 399,934

NON·CURRENT ASSETS Property, plant and equipment 9 8,063,652 6,782,284 Intangible assets 10 189,602 189,602 TOTAL NON·CURRENT ASSETS 8,253,254 6,971,886

TOTAL ASSETS 8,455,988 7,371 ,820

LIABILITIES CURRENT LIABILITIES Trade and Other Payables 11 191,352 368,292 Borrowings 12 12,667 Provisions 13 248,475 235,384 Other current liabilities 14 21 .891 20,546 TOTAL CURRENT LIABILITIES 461,718 636,889

NON·CURRENT LIABILITIES Borrowings 12 1,523,000 1,583,000 TOTAL NON·CURRENT LIABILITIES 1,523,000 1,583,000 TOTAL LIABILITIES 1,984,718 2,219,889 NET ASSETS 6,471 .270 5,151 ,931

EQUITY Reserves 15 3,867,160 2,507,854 Retained earnings 16 2,604,110 2,644,077 TOTAL EQUITY 6,471 ,270 5,151,931



Balance at 1 July 2013

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2015

Asset Retained Revaluation

Note earnings Reserve $ $

2,649,853 2,403,216 Profit attributable to members (5,776) Balance at 30 June 2014 2,644,077 2,403,216 Profit attributable to members (39,967) 2015 Revaluation 15 1,359,306 Balance at 30 June 2015 2,604,110 3,762,522


Capital Profits Reserve

$

104,638

104,638

104,638

Total

$

5,157,707 (5,776)

5,151,931 (39,967)

1,359,306 6,471,270


STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2015

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers Payments to suppliers and employees Finance costs paid Net cash provided by operating activities

CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of property, plant and equipment Payments for property, plant and equipment Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings Repayment of borrowings Net cash provided by (used in) financing activities

Net increase (decrease) in cash held Cash at beginning of financial year Cash at end of financial year

21

5

2015 $

3,207,240 (2 ,746,331)

(103,971) 356,938

16,000 (315,682) (299,682)

(72,891 ) (72 ,891 )

(15,635) 131,380 115,745


2014 $

3,605,907 (3,206,591 )

(94,910) 304,406

24,490 (383,196) (358,706)

110,000 (53,186) 56,814

2,514 128,866 131 .380


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015

1 Statement of Significant Accounting Policies

The financial statements cover Cronulla Bowling & Recreation Club Limited as an individual entity. Cronulla Bowling & Recreation Club Limited is a company limited by guarantee, incorporated and domiciled in Australia.

Basis of Preparation

The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements of the Australian Accounting Standards Board (AASB) and the Corporations Act 2001. The company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards.

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. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated.

The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial statements have been rounded to the nearest dollar.

The financial statements were authorised for issue on 06 August 2015 by the directors of the company.

Accounting Policies

Comparative Figures

When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

Inventories

Inventories are measured at the lower of cost and net realisable value. Costs are assigned on a first-in first-out basis.



Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value as indicated less, where applicable, any accumulated depreciation and impairment losses.

Property

Freehold land and buildings are shown at their fair value (being the amount for which an asset could be exchanged between knowledgeable willing parties in an arm's length transaction), based on periodic, but at least triennial, valuations by external independent valuers, less subsequent depreciation for buildings.

In the periods when the freehold land and buildings are not subject to an independent valuation, the directors conduct directors' valuations to ensure the land and building's carrying amount is not materially different to the fair value.

Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation reserve · in equity. Decreases that offset previous increases of the same asset are charged against fair value reserves directly in equity; all other decreases are charged to the statement of comprehensive income.

Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

An independent valuation of Land & Buildings on the basis of fair value was prepared by Global Valuation Services Pty Limited on the 20th May 2014. The Directors have chosen to adopt the land and building valuation figures as of 1 July 2014. Where appropriate book values were adjusted and movements transferred to reserve accounts.



Plant and equipment

Plant and equipment are measured on the cost basis less depreciation and impairment losses.

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 is assessed on the basis of the expected net cash flows that will be received from the assets' employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts.

The cost of fixed assets constructed within the company includes the cost of materials, direct labour, borrowing costs and an appropriate proportion of fixed and variable overheads.

Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the statement of comprehensive income during the financial period in which they are incurred.

Depreciation

The depreciable amount of all fixed assets including building and capitalised lease assets, but excluding freehold land, is depreciated on a straight line basis over the asset

The depreciation rates used for each class of depreciable assets are:

Class of Fixed Asset

Buildings

Plant & Equipment

The estimated useful life for each class of depreciable assets are:

Class of Fixed Asset

Buildings

Plant & Equipment

Depreciation Rate

2.5%

5.0 - 33.3%

Useful Life

40 Years

3-20 Years

The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at the end of the reporting period .

An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.


Leases


Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset (but not the legal ownership) are transferred to the company, are classified as finance leases.

Intangibles

Poker Machine Licenses

Poker machine licenses that have been purchased by the club are recorded at cost, less any accumulated amortisation and impairment losses. The licenses are assessed annually for impairment, and devalued accordingly.

Employee Benefits

Provision is made for the company's liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits have been measured at the amounts expected to be paid when the liability is settled, plus related on-costs.

Contributions are made by the company to an employee superannuation fund and are charged as expenses when incurred.

Provisions

Provisions are recognised when the company has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

Provisions are measured at the present value of management's best estimate of the outflow required to settle the obligation at the end of the reporting year. The discount rate used is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the unwinding of the discount is taken to finance costs in the statement of other comprehensive income.

Cash and Cash Equivalents

Cash and cash equivalents comprises cash on hand, demand deposits and short-term investments which are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value. Bank overdrafts also form part of cash equivalents for the purpose of the statement of cash flows and are presented within current liabilities on the statement of financial position.


Revenue


Revenue from the sale of goods is recognised upon the delivery of goods to customers.

All revenue is stated net of the amount of goods and services tax (GST).

Borrowing Costs

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset.

All other borrowing costs are recognised as an expense in the period in which they are incurred.

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 Tax 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 Balance Sheet are shown inclusive of GST.

Trade and Other Payables

Trade and other payables represent the liabilities at the end of the reporting period for goods and services received by the company that remain unpaid.

Trade payables are recognised at their transaction price . Trade payables are obligations on the basis of normal credit terms.



2015 2014 $ $

2 Revenue and Other Income

Revenue Sales revenue: Sale of goods 2,718,245 2,570,047 Other revenue: Other revenue 483,557 1,047,775

Total revenue 3,201,802 3,617,822

Other income Profit / (Loss) on sale poker machines 13,877 22,093

Total other income 13,877 22,093

Other revenue from: Commission Received 1,596 1,674 Entertainment income 99,530 85,331 Insurance Recoveries 190,973 811,441 Membership Subscriptions 43,887 48,807 Telephone Income 27 Sundry Income 147,571 100,495 Total other revenue 483,557 1,047,775

3 Auditor's Remuneration

Auditor's Remuneration Auditing 16,975 17,014 Other Services 6,500 6,500

23,475 23,514

4 Loss

Expenses Cost of sales 548,648 491 ,277



HP Charges - Poker Machines Borrowing Costs - General Interest Paid - General Total finance costs

Depreciation - Poker Machines Depreciation - Buildings Depreciation - Plant & Equipment Depreciation of property, plant and equipment

5 Cash and Cash Equivalents

Current Cash on Hand Cash on Deposit Cash at Bank - NAB Cheque alc

6 Trade and Other Receivables

Current Other Debtors

The carrying value of trade receivables is considered a reasonable approximation of fair value due to the short term nature of the balances.

7 Inventories

Current At cost: Stock on Hand - Bar Stock on Hand - Greens Stock on Hand - Other

2015 $

224 2,500

101,471 104,195

174,939 107,174 109,386 391,499

66,547 18

49,180 115,745

7,545

61 ,318 2,000 3,290

66,608

2014 $

3,286 15

94,910 98,211

157,061 90,190 99,825

347,076

78,502 17

52,861 131 ,380

180,645

72,600 2,000 1,000

75,600



8 Other Non-Financial Assets

Current Security Deposit

Prepayments

9 Property, Plant and Equipment

Land and Buildings Freehold Land - at Valuation

Buildings - at Valuation Building Improvements since Valuation - at Cost

Less: Accumulated Depreciation

Total Land and Buildings

Plant & Equipment at Cost Less: Accumulated Depreciation

Computer Software - at cost

Less: Accumulated Depreciation

Poker Machines - At Cost Less: Accumulated Depreciation

Total Plant and Equipment

Total Property, Plant and Equipment

2015 $

5,000

7,836

12,836

3,000,000

4,150,000 152,540

4,302,540

(107,174)

4,195,366

7,195,366

1,607,561 (1 ,092,575)

514,986

50,276 (23,533)

26,743

1,377,742 (1,051,185)

326,557

868,286

8,063,652

2014 $

5,000 7,309

12,309

2,500,000

3,350,000

197,272

3,547,272

(256,578)

3,290,694

5,790 ,694

1,528,456 (992,367)

536,089

62 ,334

(38.697)

23,637

1,413,008 (981,144)

431,864

991,590

6,782,284



Movements in Carrying Amounts

2015 $

2014 $

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year.

Freehold Land Buildings & Plant & Poker Total Improvements Equipment Machines

$ $ $ $ $

Balance at 1 July 2013 Additions Disposals Depreciation expense

Balance at 30 June 2014 Additions Disposals

Revaluation increments/( decrements) Depreciation expense

Carrying amount at 30 June 2015

10 Intangible Assets

Poker Machine Entitlements Total

Reconciliation of Intangibles Poker Machine Entitlements

Opening Balance

Additions

Impairment adjustment

2,500,000

2,500,000

500,000

3,000,000

Closing carrying value at 30 June 2015

Impairment Disclosure

3,287,285

107,942 (18,123) (86,410)

3,290,694

152,540

859,306 (107,174)

4,195,366

The club holds 48 poker machine licences of which 32 were issued for no cost by the state government. With consideration to all the licences held no impairment adjustment is required.

544,994 195,148

(76,811 ) (103,605)

559,726

91 ,389

(109,386) 541 ,729

189,602 189,602

189,602

189,602

374,015

217,307 (2,397)

(157,061)

431 ,864

71,755

(2,123)

(174,939) 326,557

6,706,294

520,397 (97,331)

(347,076)

6,782,284

315,684

(2,123)

1,359,306 (391,499)

8,063,652

189,602 189,602

189,602

189,602



2015 $

2014 $

11 Trade and Other PayabJes

Current Trade Creditors

Other Creditors 77,813

11 3.539

191 ,352

275,489

92,803

368,292

12 Borrowings

13

Current Hire Purchase Liability

Non-Current Secured Loan - CBA Secured Loan - CBA

Security

The security for the CBA loan facilities is:

523,000 1,000,000

1,523,000

12,667

583,000 1,000,000

1,583,000

-Registered first mortgage over 41 Croydon Street, Cronulla known as Cronulla Bowling & Recreation Club -First ranking charge over all present and after aquired property of Cronulla Bowling & Recreation Club

Provisions

Provision for Annual Leave 160,316 162,558 Provision for Long Service Leave 88,159 72 ,826

248,475 235,384

Total provisions 248,475 235,384

Analysis of Total Provisions Current 248,475 235,384

248,475 235,384



2015 $

14 Other Liabilities

Current Income In Advance 21,891

2014 $

20,546



15 Reserves

Asset Revaluation Reserve Opening Balance for the year 2015 Revaluation

Capital Profits Reserve Opening Balance for the year

16 Retained Earnings

Retained earnings at the beginning of the financial year Net loss attributable to members of the company Retained earnings at the end of the financial year

Capital Hire Purchase (HP) and Leasing 17 Commitments

Finance HP/Lease Commitments Payable : Not later than one year Minimum lease payments Less future finance charges Total HPllease liability

2015 $

2,403,216 1,359,306 3,762,522

104,638

3,867,160

2,644,077 (39,967)

2,604,110

2014 $

2,403,216

2,403,216

104,638

2,507,854

2,649,853 (5,776)

2,644,077

12,981 12,981

(314) 12,667



18 Contingent Assets

Estimates of the potential financial effect of contingent assets that may become receivable:

Contingent Assets Insurance Claim The club has been advised a final payment is due to settle the insurance claim for loss of trade and capital works repairs. The club is confident this amount is collectable however not certain. As a result the club has not included this amount in the financial statements. The club will recognise the insurance proceeds when collectability is certain .

19 Key Management Personnel

Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity is considered key management personnel.

The totals of remuneration paid to key management personnel (KMP) of the company during the year are as follows:

Key management personnel compensation

20 Related Party Transactions

2015 $

248,398

2014 $

192,073

264.049

Transactions between related parties are on normal commercial terms and conditions. These terms and conditions are no more favourable than those available to other parties unless otherwise stated.

There were no transactions with related parties during the year.



2015 2014 $ $

21 Cash Flow Information

a) Reconciliation of cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:

Cash on Hand 66,547 78,502 Cash on Deposit 18 17 Cash at Bank - NAB Cheque alc 49,180 52,861

115,745 131,380

b) Reconciliation of Cashflow from Operations with profit after Income Tax Operating profit (loss) after income tax (39,967) (5,776)

Non-cash flows in profit: Profit on sale of non-current assets (13,879) (22,093) Loss on sale of non-current assets 94,934 Depreciation 391,499 347,076 Financing flows in operating profits 224 3,286

Changes in assets and liabilities, net of the effects of purchase and disposals of subsidiaries (Increase) Decrease in current inventories 8,992 3,258 (Increase) Decrease in current receivables 173,100 (171,824) (Increase) Decrease in prepayments (527) 1,566 Increase (Decrease) in trade creditors (197,676) 68,084 Increase (Decrease) in other creditors 20,736 (23,133) Increase (Decrease) in current provisions 13,091 20,943 Increase (Decrease) in income in advance 1,345 (11,915)

356,938 304,406



22 Financial Risk Management

2015 $

2014 $

The company's financial instruments consist mainly of deposits with banks, local money market instruments, short-term investments, accounts receivable and payable.

The carrying amounts for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements are as follows:

Financial Assets Cash and cash equivalents Loans and receivables Total Financial Assets

Financial liabilities Bank loan secured Trade and other payables HP / Lease liabilities Total Financial Liabilities

Note

5 6

12 11 12

2015 $

115,745 7,545

123,290

1,523,000 77,813

1,600,813

The net fair value is equivalent to the carrying amount unless otherwise stated.

23 Company Details

The registered office of the company is:


The principal place of business is:


2014 $

131,380 180,645 312,025

1,583,000 275,489

12,667 1,871 1156

The principal activities of the company are the provision of bowling activities and the operation of a licensed club.



2015 $

2014 $

24 Disclosure Requirements under Section 41J of the Registered Clubs Act

Core and Non Core Property

Section 41 J of the Act defines core property as meaning 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 resolution passed by a majority of the members present at a general meeting of the ordinary members of the club, to be core property of the Club.

Non-core property is defined as meaning any real property owned or occupied by the Club that is not core property.

The Directors consider the Club's defined premises of 41 Croydon Street to be core Property.

The Directors consider the club has no non-core property.


DIRECTORS' DECLARATION

The directors of the company declare that:

1.

(a)

(b)

2.

The financial statements and notes, as set out on pages 1 to 24, are in accordance with the Corporations Act 2001:

comply with Accounting Standards and the Corporations Regulations 2001; and

give a true and fair view of the financial position as at 30 June 2015 and of its performance as represented by the results of its operations and its cash flows for the year ended on that date of the company.

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.

Directo" "-' ~o~_ T. Galla~ J

Directo" jI. ~ E. p;ty .


25 to 4825 to 48,

Maher Partners :6.. P . i 1111

.Assuran ce I Audit Se IV ices

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CRONULLA BOWLING & RECREATION CLUB LIMITED

ABN: 71 292787917

Report on the Financial Report

I have audited the accompanying financial report of Cronulla Bowling & Recreation Club Limited which comprises the statement of financial position as at 30 June 2015 and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year ended on 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 - Reduced Disclosure Requirements 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

My responsibility is to express an opinion on the financial report based on my audit. I conducted my audit in accordance with Australian Auditing Standards. These Auditing Standards require that I comply with 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 judgment, 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 entity'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.

I believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Maher Partners Assurance Pty Limited ABN 34 1365493561 Suite 5B, Level 1,1 Box Road, Taren Point NSW 22291 PO Box 2257, Taren Point NSVV 2229 Phone: +6128522 4500 I Fax: +612852245991 Email admin@maherpartners com ,au

fA Chart.'..:! • Accountant.

Maher Partners Assurance I Audit Services


ABN: 71 292787917

Independence

In conducting my audit, I have complied with the independence requirements of the Corporations Act 2001 . I confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of Cronulla Bowling & Recreation Club Limited on 6th August 2015, would be in the same terms if provided to the directors as at the date of this auditor's report.

Auditor's Opinion

In my opinion :

(a) the financial report of Cronulla Bowling & Recreation Club Limited is in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the company's financial position as at 30 June 2015 and of its performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards - Reduced Disclosure Requirements and the Corporations Regulations 2001 .

Maher Partners Assurance Pty Limited

oL-~ Jason Maher

Taren Point


Maher Partners Assurance Pty Limited ABN 34 1365493561 Suite 5B, Level 1,1 Box Road, Taren Point NSW 22291 PO Box 2257, Taren Point NSW 2229 Phone: +612852245001 Fax: +612852245991 Email admin@maherpartners .com au

~ Chartered W Accountant.

Maher Partners Assurance I Audit Serv ices


ABN: 71 292787917

Auditor's Disclaimer to the Members For the year ended 30 June 2015

The additional data presented in the Profit & Loss Statement and Trading accounts is in accordance with the books and records of the Cronulla Bowling & Recreation Club Limited (our cl ient) which have been subjected to the auditing procedures applied in the statutory audit of the company for the year ended 30 June 2015. It will be appreciated that the statutory audit did not cover all details of the financial data and no warranty of accuracy or reliability is given. Neither the firm nor any member or employee of the firm undertakes responsibility in any way whatsoever to any person (other than our client) in respect of such data, including any errors or omissions therein however caused .

Name of Firm:

Name of Principal:

Address:


Maher Partners Assurance Pty Limited ABN 34 136 549 356 1 Suite 58, Level 1, 1 Box Road, Taren Point NSW 2229 I PO 80x 2257, T men Point NSVV 2229 Phone +61285224500 I Fax: +612852245991 Email admin@maherpartners com ,au

~ Chart .• ,ed ~ Accountanta


PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 30 JUNE 2015

INCOME Bar Trading Account Poker Machines Trading Account Keno Trading Account Bowls Trading Account TAB Trading Account

OTHER INCOME Commission Received Entertainment income Insurance Recoveries Membership Subscriptions Telephone Income Sundry Income

2015 $

256,672 694,025

24,009 (40,976) (15,165)

918,565

1,596 99,530

190,973 43,887

147,571

483,557

1,402,122


2014 $

184,273 837,584

18,564 (37,482) (18,528)

984,411

1,674 85,331

811,441 48,807

27 100,495

1,047,775

2,032,186



EXPENSES Advertising Auditor's Remuneration Bank Charges & Eftpos Costs Borrowing Costs - General Cleaning Computer Expenses Depreciation - Buildings Depreciation - Plant & Equipment Directors Expenses Donations Employees' Benefits Entertainment Fringe Benefits Tax General Expenses Honoraria & Directors Expenses Insurance Interest Paid Leasing / Hire Legal Costs Licensing Fees Light, Power & Heat Loss on sale of fixed assets Members Amenities Payroll Tax Printing, Postage & Stationery Provision - Sick & Holiday Leave Provision - Long Service Leave Rates & Taxes Repairs & Maintenance Salaries & Wages Security Costs Storm Damage - Write off Assets Storm Damage - R&M and additional Costs Staff training & amenities Staff uniforms Subscriptions & Licenses Superannuation Contributions Telephone Waste Disposal

2015 $

6,672 23,475

3,723 2,500

69,892 8,361

107,174 109,386

18,680 14,063 6,424

263,966 3,812

16,717 9,000

73,515 101,471 22,573

5,608 9,182

56,784

45,589 3,959

11,269 (1 ,010) 7,588

19,507 54,591

277,727 30,601

1,910 8,383 1,069 5,368

25,527 9,494 7,539

1,442,089


2014 $

7,175 23,514

2,609 15

66,662 6,497

90,190 99,825 16,188 10,702

5,873 233,395

2,256 12,808 9,000

67,273 94,910 18,727

300 3,538

66,657 9,935

28,983 3,893

13,902 19,362 7,351

20,946 57,265

259,633 32,050 85,000

607,010 3,897 2,467 5,385

23,245 10,011 9,513

2,037,962



Loss from ordinary activities before income tax

2015 $

(39.967)


2014 $

(5.776)


DEPARTMENTAL TRADING, PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 30 JUNE 2015

BAR TRADING ACCOUNT

Bar Sales

Less: Cost of Goods Sold Opening Stock Purchases Closing Stock

Gross Profit from Trading

Less: Direct Costs General Maintenance & Replacements Stocktake Salaries & wages Superannuation

Net Profit from Trading

2015 $

1,318,251

72,600 529,931 (61,318)

541,213

777,038

46,503 5,880

429,812 38,171

520,366

256,672


2014 $

1,189,100

74,858 481,962 (72,600)

484,220

704,880

48,000 5,290

429,806 37,511

520,607

184,273



2015 $

POKER MACHINES TRADING ACCOUNT

Poker machine revenue 1,438,829 Less: Poker machine duty (160,968) Profit / (Loss) on sale poker machines 13,877

1,291 ,738

Less: Direct Costs Depreciation - Poker Machines 174,939 HP Charges - Poker Machines 224 Repairs & Maintenance 49,404 Poker machine promotions 103,699 Salaries & wages 145,331 Superannuation 14,185 Licence Fees 99,502 General Expenses 10,429

597,713

Net Profit from Trading 694,025


2014 $

1,437,528 (163,282)

22,093

1,296,339

157,061 3,286

47,947 66,984

142,481 12,934 24,816

3,246

458,755

837 1584



KENO TRADING ACCOUNT

Keno Commission

Less: Direct Costs Repairs & Maintenance

Net Profit from Trading

2015 $

29,517

5,508

24,009


2014 $

25,028

6,464

18,564



BOWLS TRADING ACCOUNT

Green Fees

Less: Cost of Goods Sold Opening Stock

Purchases Closing Stock

Gross Profit from Trading

Less: Direct Costs Repairs & Maintenance

Salaries & wages Superannuation General Expenses

Net Loss from Trading

2015 $

69,107

2,000 7,435

(2,000)

7,435

61,672

19,825 61,532

5,280 16,011

102,648

(40,976)


2014 $

60,478

2,000 7,057

(2,000)

7,057

53,421

11,124 58,673

5,046 16,060

90,903

(37,482)



TAB TRADING ACCOUNT

TAB Commission

Less: Direct Costs Sky Channel & Sports Pick TAB Kiosk Printing & Stationary

Net Loss from Trading

2015 $

23,509

26,347 11,547

780

38,674

(15,165)


2014 $

21,195

26,094 11,366 2,263

39,723

(18,528}

CRONULLA WOMEN'S BOWLING CLUB PRESIDENTS REPORT

It is my pleasure to present the Cronulla Women's Bowling Club report for the year ending 30th June 2015.

We, the ladies bowls committee, are absolutely delighted with the success of our bowlers at all the different events, both at home and away, and the progress the Club has made this year.

Our teams did very well in the Pennants and hopefully we will be able to build 3 teams next year. We do have the talent to do so!

It is very encouraging to see all the new faces joining our Club. A very warm welcome and thank you to all.

To the bowlers who find Tuesdays a difficult day to play, don't forget Saturday afternoon. The girls have a great day and the men seem to enjoy their company.

Our thanks to our Board of Directors for their help in various matters, our General Manager Peter Harper, George, Mandy.

Also our sponsors, we would not be abler to run our carnivals without their support. Thank you so much.

Lets not forge our Greenkeepers Glen and Peter who prepare our greens.

The most important thanks is to our committee for the support and effort which enables everything to run so smoothly. Once again I must say I couldn't do without them.

Let's look to a wonderful new year!

Good Bowling!

Lynette Petty CWBC President

CRONULLA MEN'S BOWLING CLUB PRESIDENTS REPORT

A terrific year both socially and competitively and are regularly getting 45-50 bowlers Thursdays and Saturdays. We have had great results in Pennants with Grades 3, 4, 6 and 7 making the Zone playoffs and Grades 3 and 7 winning Zone flags.

In the two State playoffs Grade 7 played very well, winning one out of their three games in icy conditions whilst our Grad 3 team made the final and brought home the State Runners-up flag. We are all very proud of the two teams represented and applaud our selectors who have done an outstanding job.

Our Club has spent quite a lot of money on facilities for our members;

2014 18 new lockers $2,870.00 31 new scoreboards $5,000.00 2 green exit support poles $500.00 Honour Board update $360.00 Pennants expenses 2014 $4,774.00 Hosting State Title Triples $1,000.00

Total: $14,504.00

2015 2 x Green resurfacing $4,500.00 Pennants Grade 3 expenses $7,704.00 Pennants Grade 7 expenses $6,800.00

Total: $19,404.00

We filled all our carnivals and thanks go to all our sponsors.

As usual, thanks go to Peter, George, Mandy and staff for all their support and my gratitude to Glen and Peter for keeping our greens in good condition. Well done boys!

My report would not be complete without a special mention and big thank you to the Committee members for all their hard work to ensure another good year for our Club.

In closing, we wouldn't have a club without our members. None of what we have achieved would be possible without you. Give yourselves a hand and thank you all!

Daryl Young CMBC President

annual report & balance...

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