campbelltown city bowling club co-operative limited … · campbelltown city bowling club...

CHAIRMAN: G HawkerTREASURER: C Appleby

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

CAMPBELLTOWN CITY BOWLING CLUB CO-OPERATIVE LIMITED

A.B.N. 69 005 560 293

Cnr Browne & Howe StreetsCampbelltown

ANNUAL REPORTS&

CONTENTS:

Directors’ Report 3

Chairman’s Report 6

Treasurer’s Report 8

Auditor’s Independence Declaration 10

Independent Audit Report 11

Statement of Profit or Loss and Other Comprehensive Income 13

Statement of Financial Position 14

Statement of Changes in Funds 15

Statement of Cash Flows 16

Notes to and Forming Part of the Financial Statements 17

Directors’ Declaration 35

Compilation Report on Additional Financial Information 36

Departmental Trading, Profit and Loss Statement 37

Detailed Balance Sheet 44

Other Information 47

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CAMPBELLTOWN CITY BOWLING CLUBCO-OPERATIVE LIMITED

A.B.N. 69 005 560 293

ANNUAL REPORTFOR THE YEAR ENDED 30 JUNE 2016

1.

Director Qualification Experience

HAWKER Sales Chairman

Gregory Appointed Sep 2015

BENSLEY Retired Chairman

James Appointed Sep 2013

Resigned Sep 2015

APPLEBY Company Treasurer Greens

Colin Director Appointed Sep 2015

ISHIBASHI Home Duties Director

Te-anu Appointed Sep 2010

Resigned Oct 2015

Retired Director

Nazareno Appointed Sept 2015

MAHER Retired Director

Thomas Appointed May 2013

Resigned Jun 2016

RetiredDirector, Deputy Chairman

Alicia Appointed Sep 2013

Retired Director

George Appointed Sep 2014

Resigned Sep 2015

HATTANDER

Barefoot Bowls, Cellar

Barefoot Bowls

Deputy Chairman, Staff, Signage, Functions

KOOSACHE

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A.B.N. 69 005 560 293

DIRECTORS’ REPORT

VASSALLO

To be presented to the members at the Annual General Meeting of the Co-operative to be held at the Club, Cnr. Browne & Howe Streets, Campbelltown at 9:00am on 25 September 2016.

The Directors present their Annual Report together with the Audited Statements of Account covering operations of the Co-operative for the year ended 30 June 2016.

In compliance with the Corporations Act 2001 and a resolution of the Co-operative the following information is furnished;

The names of each person who has been a director during the year and to the date of this report are:

Chairman, Licensee, Maintenance

Functions

Special Responsibilities

Gardens

Chairman, Licensee, Maintenance

Director Qualification Experience

WILLIAMS Retired Director

Trevor Appointed Sep 2014

Resigned Sep 2015

NORRIS Retired Director

Col Appointed Sep 2015

Resigned Jun 2016

TOOLE Director

Grant Appointed Sep 2015

Resigned Aug 2016

PHIBBS Bank Manager Director

Pat Appointed Jul 2016

2.

3.

4.

5. A view of the operations and results is as follows:

2016 2015$ $

(47,696) (44,533)

After current year depreciation amortisation amounting to 56,052 55,294

763,343 772,329

314,829 324,995

6.

7.

Profit / (Loss) for the year

The principal activities of the Co-operative in the course of its last financial year were to carry on and develop the activities and objects of the Club. There have been no significant changes in the nature of these activities during the year.

The net loss for the financial year was $47,696 (2015: $44,533 loss) after provision for depreciation of $56,052 (2015: $55,294).

Under the Club’s Rules no dividend, rebate or bonus can be paid and no such payment is recommended.

There has been no significant change in the state of the affairs of the Co-operative during the financial year.

During the financial year the Co-operative was provided with accounting services by the Club’s Auditors, Flegg Kehlet Wagner and the fees are included in the total shown in the accounts together with audit fees.

Bar Sales werePoker Machine income after payouts was

Special Responsibilities

Transport Dispatch, School Teacher

Promotions, Advertising

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

4

g No matter or circumstances has arisen since the end of the financial year that significantly

affected or may significantly affect:

(i) the operations of the Co-operative;

(ii) the results of those operations; or

(iii) the state of the affairs of the Co-operative in financial years subsequent to the financial

year under review.

The operations of the Co-operative in the future financial years are intended to be a

continuance of the current operations on a profitable basis.

9.

10. Before the Statement of Financial Performance and Statement of Financial Position were

made out, reasonable steps were taken to ascertain what action had been taken in relation to

the writing off of bad debts and the making of provision for doubtful debts. No debts included

in the accounts were considered bad or doubtful.

11. The Directors have taken reasonable steps to ascertain whether any Current Assets were

unlikely to realise, in the ordinary course of business, their value shown on the accounting

records of the Co-operative. At the date of this report the Directors are not aware of any

circumstances which would render the values attributed to Current Assets in the accounts

misleading.

No Director has, since the end of the previous financial year, received or became entitled to

receive a benefit by reason of a contract made by the Co-operative with the Director or with a

firm of which he is a member or with a co-operative in which he has a substantial financial

interest.

12.

"13. The co-operative is incorporated under the Corporations Act 2001 and is a co-operative

limited by guarantee. If the co-operative is wound up, the constitution states that each member

is required to contribute a maximum of $0 each towards meeting any outstanding obligations

of the co-operative.

Auditor's Independence Declaration

The auditor's independence declaration for the year ended 30 June 2016 has been received and can be

found on page 10 of the financial report.

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

Dated at Campbelltown

this 1st day of September 2016

Chairman

Gregory HAWKER

Treasurer

ColityAPPLEBY

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This year we went looking at how we could save money. All savings that we have made will add to the profit of the Club, the savings will be reflected in next year’s Financial Accounts. The following areas have been identified and changes were made;Our plants have been removed saving $130 each month.The Friday night bus was removed saving $678 each month. By changing to Schweppes we have been given a better deal and will save approximately $240 each month. Savings have also been made in Security, Waste Disposal and Telephones.

As a Board we have tried to keep expenses to a minimum. Our Major Purchase this year have been in new Registers for the Bar and 2 reconditioned and 2 upgraded Poker Machines. The Schweppes Fridge was given to us as part of the Agreement.

The new Bowls office has been constructed and is in use. A Bar fridge will be installed in the old Bowls office for use in the Restaurant.

To get more people into the Club we have introduced live music on a Friday or Saturday night, Poker on a Tuesday night and Open mike on a Sunday afternoon. For the Club to continue to exist we need to get more people supporting these endeavours and more people playing Bowls.

My thanks to Colin Appleby for the work he has done in working on the Deal with Schweppes, Breweries and the Entertainment as well as the work as Treasurer.

A special thanks to my fellow Board Members, Lee Hattander, Tom Maher, Reno Vassallo, Grant Toole, Col Norris and Pat Phibbs, for the work they do to help make the Club a success.

The year started with a phone call from the Office of Liquor Gaming and Racing. A complaint had been lodged to the office against the Campbelltown City Bowling Club. The complaint stated that we continually had intoxicated people on the premises and that we did not follow the Responsible Service of Alcohol. After a lengthy phone conversation with the inspector I was able to show that we had steps in place to monitor and implement the Responsible Service of Alcohol. We are on their watch list and at any time an Inspector could come in undercover. The complaint was serious and if the Inspector was not happy with our procedures we could have received a large fine or had our Licence suspended.

CAMPBELLTOWN CITY BOWLING CLUB

CHAIRMAN’S REPORTFOR THE YEAR ENDED 30 JUNE 2016

I can report that the club has made a loss of $47,696 after depreciation for the financial year ending June 2016. This compares with a loss of $44,533 in 2015.

CO-OPERATIVE LIMITEDA.B.N. 69 005 560 293

Chairman

The Directors attended the following Meetings during the year.

Ordinary Special TotalChairmanJ Bensley (appointed Sep 2013) 1 1 2G Hawker 13 3 16

TreasurerC Appleby 10 2 12

Deputy Chairman

A Hattander 11 4 15

DirectorsT Maher 10 3 13G Toole 9 0 9C Norris 8 1 9N Vassallo 10 3 13P Phibbs 2 0 2T Ishibashi 3 1 4G Koosache 3 1 4T Williams 2 1 3

Gregory HawkerChairman

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Gregory Hawker

I would like to thank and commend the Club’s Greenkeeper Gregg, on his outstanding work, I would also like to pass on many compliments made from visitors to the Club that we have the “best Greens in the State”. Gregg always goes above and beyond his duties and is always willing to lend a hand to jobs around the Club. Your hard work is very much appreciated.

I would also like to thank the Staff, Cleaners and Chilli Joe for their hard work and dedication to the Club throughout the year, and for making the Club a friendly place to visit.

On behalf of our members I offer sincere condolences to those who have lost loved ones throughout the year. A life member Steve Katsoolis did so much for the club over the years and John McDonald is also missed.

I would like to wish the incoming Board a successful year.

This year has again been a year of consolidation and cost control.

THIS IS YOUR CLUB. USE IT OR LOSE IT.

Bar Trading

The Net Profit on Bar Trading is down $12,426 compared to last year.

Gaming

The Net Profit on Pokies is down $11,671 compared to last year.

The Net Profit on Keno is up $2,294 compared to last year.

The Net Profit on Tab is up $4,029 compared to last year.

I also thank our Auditors and in particular Rodney Wagner for his continuing good governance and support of our hard working office staff.

It is important for the Board to have a stable and hard working Chairman and I thank Greg for all the work he has done behind the scenes and his encouragement of the staff, directors and members.

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A.B.N. 69 005 560 293

TREASURER’S REPORTFOR THE YEAR ENDED 30 JUNE 2016

The Board have agreed to replace the lights on the Greens this coming season with the financial support of the Men’s Bowling Club.

Thank you to all the members who have whole heartedly supported this great club over the past 12 months.

We have reviewed all contracts and made adjustments which won’t necessarily show in this year’s figures but will in the coming year’s accounts.

The Board is looking forward to good governance and innovation in the coming years and look forward to the support of all our members.

The Board are hoping to formalise a progressive strategic plan for the next 3-5 years and will be asking all stakeholders for their input.

It is extremely important for all members to make full use of the Club's amenities and to encourage new members to join, as this forms our main source of revenue.

Congratulations to the Men’s and Ladies Bowling Clubs on their on and off green performances this year and I thank them for their continued support.

General Expenses

The Net Loss is up $12,853 compared to last year.

Greens

The Net Loss is up $4,870 compared to last year.

Overall the net profit before current year depreciation of $8,356.

With depreciation included the net loss is $47,696.

Our net assets as at 30 June 2016 were $2,619,962.

I would like to thank the Members of the Board for the duties carried out this year.

Our staff are to be commended for the services provided to the Members and Patrons.

My final thanks go to the Office Staff for the dedicated work in the administration and running of the club.

Treasurer

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Colin Appleby

Any questions relating to the financial statements please refer to the Club Auditor, Rodney Wagner, who will be happy to answer them.

Scope

-

- any applicable code of professional conduct in relation to the audit.

Flegg Kehlet Wagner

Rodney Wagner

Registered Company Auditor Number: 433830

Campbelltown

1st September 2016


A.B.N. 69 005 560 293

AUDITOR’S INDEPENDENCE DECLARATIONUNDER SECTION 307C OF THE CORPORATIONS ACT 2001

TO THE MEMBERS OF CAMPBELLTOWN CITY BOWLING CLUB CO-OPERATIVE LIMITED

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2016 there have been no contraventions of:

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the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

Scope

Directors' Responsibility for the Financial Report

Auditor's Responsibility

Independence

Inherent Limitations

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BOWLING CLUB CO-OPERATIVE LIMITED

The directors of the co-operative are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Co-operatives Act 1992 . This responsibility includes establishing and maintaining internal controls 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.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risks 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 the accounting policies used and the reasonableness of the accounting estimates made by the directors as well as evaluation the overall presentation of the financial report.


A.B.N. 69 005 560 293

INDEPENDENT AUDIT REPORTTO THE MEMBERS OF CAMPBELLTOWN CITY

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

In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001 , provided to the directors of the Campbelltown City Bowling Club Co-operative Limited would be in the same terms if provided to the Directors’ as at the date of this auditors report.

Because of the inherent limitations of confirming all cash receipts and payments have been recorded and limitations in the internal control framework, it is possible that fraud, error or non-compliance may occur and not be detected. The audit conclusion expressed in this report has been formed on the above basis.

We have audited the accompanying financial report, being a general purpose financial report of Campbelltown City Bowling Club Co-operative Limited comprising the Director’s Declaration, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Funds, Statement of Cash Flows and Notes to the Financial Statements for the financial year ended 30 June 2016.

Our responsibility is to express an opinion on the financial reports based on our audit. No opinion is expressed as to whether the accounting policies used as described in Note 1, are appropriate to meet the needs of the members. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

Audit Opinion

a.

b.

Flegg Kehlet Wagner

Rodney Wagner

Registered Company Auditor Number: 433830

Campbelltown

1st September 2016

In our opinion the financial report of Campbelltown City Bowling Club Co-Operative Limited is in accordance with the Co-operatives Act 1992 (The Act) and the Co-operatives Regulation 2005 which essentially adopts the provisions of Corporations Act 2001, including:

giving a true and fair view of the co-operative’s financial position as at 30 June 2016 and of their performance for the year ended on that date; and

complying with Australian Accounting Standards (including the Australian Accounting Interpretations) to the extent described in Note 1 and the Corporations Regulations 2001.

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Note 2016 2015

$ $

Revenue and Other Income 3 1,924,297 2,043,714

Cost of sales 4 (1,094,092) (1,205,157)

Employee benefits expenses (351,766) (348,169)

Depreciation expenses 4 (56,052) (55,294)

Other Expenses (470,083) (479,627)

Net Current Year Surplus / (Deficit) (47,696) (44,533)

Other Comprehensive Income

- -

(47,696) (44,533)

(47,696) (44,533)

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The accompanying notes form part of these financial statements.

Total Comprehensive Income Attributable to Members of the Entity

Total Other Comprehensive Income for the year


Net Current Year Surplus / (Deficit) Attributable to Members of the Entity

Schedule 1


A.B.N. 69 005 560 293

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Note 2016 2015

$ $AssetsCurrent AssetsCash & cash equivalents 5 696,668 750,297

Trade & other receivables 6 6,650 6,650

Inventories 7 27,844 34,273

Other 8 8,628 10,579

Total Current Assets 739,790 801,799

Non-Current AssetsProperty, plant & equipment 9 1,938,470 1,951,798

1,938,470 1,951,798

Total Assets 2,678,259 2,753,597

LiabilitiesCurrent LiabilitiesTrade creditors & other payables 10 18,827 49,271

Interest bearing liabilities 11 - 41

Provisions 12 38,271 35,441

Total Current Liabilities 57,098 84,753

Non-Current LiabilitiesMembers – Share Capital 13 1,199 1,185

Total Non-Current Liabilities 1,199 1,185

Total Liabilities 58,297 85,938

Net Assets 2,619,962 2,667,658

FundsReserves 15 1,393,810 1,393,810

General funds 14 1,226,152 1,273,848 Total Funds 2,619,962 2,667,658

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STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2016

Total Non-Current Assets

Schedule 1


A.B.N. 69 005 560 293


Note General Reserves Total

Funds

$ $ $

Balance at 1 July 2014 1,318,381 1,393,810 2,712,191

Surplus attributable to members (44,533) - (44,533)

Balance at 1 July 2015 1,273,848 1,393,810 2,667,658

Surplus attributable to members (47,696) - (47,696)

Balance at 30 June 2016 1,226,152 1,393,810 2,619,962


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Schedule 3


A.B.N. 69 005 560 293

STATEMENT OF CHANGES IN FUNDS

Note 2016 2015

$ $Cash Flows from Operating ActivitiesReceipts from customers & members 2,007,133 2,135,410

Payments to suppliers & employees (2,058,987) (2,135,463)

Commissions received 26,313 20,150

18(b) (25,541) 20,097

Cash Flows from Investing ActivitiesInterest received 14,635 16,387

Payments for property, plant & equipment (42,723) (29,012)

Net Cash Flows used in Investing Activities (28,088) (12,625)

Repayment of equipment loan - (5,293)

Net Cash Flows used in Financing Activities - (5,293)

Net increase / (decrease) in cash held (53,629) 2,179

Cash at beginning of financial year 750,297 748,118

Cash at end of financial year 18(a) 696,668 750,297


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Cash Flows from Financing Activities

Schedule 4


A.B.N. 69 005 560 293

STATEMENT OF CASH FLOWS


Net Cash Flows provided by Operating Activities

1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation

Accounting Policies(a) Revenue

Non-reciprocal grant revenue is recognised in profit or loss when the entity obtains control of the grant and it is probable that the economic benefits gained from the grant will flow to the entity and the amount of the grant can be measured reliably.

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 in the financial statements have been rounded to the nearest dollar.

Schedule 4


A.B.N. 69 005 560 293

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS


If conditions are attached to the grant which must be satisfied before the entity is eligible to receive the contribution, the recognition of the grant as revenue will be deferred until those conditions are satisfied.

Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument.

17

The financial statements cover Campbelltown City Bowling Club Co-operative Limited as an individual entity, incorporated and domiciled in Australia. Campbelltown City Bowling Club Co-operative Limited is a co-operative limited by guarantee.

The financial statements were authorised for issue on 1st September 2016 by the directors of the co-operative.

The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Act 2001. The co-operative 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 stated otherwise.

(b) Inventories

(c) Property, Plant and Equipment

Freehold Property

Plant and equipment

Revenue from the rendering of a service is recognised upon the delivery of the service to the customer.

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS(continued)

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

Inventories are measured at the lower of cost and current replacement cost.

Inventories acquired at no cost or for nominal consideration are measured at the current replacement cost as at the date of acquisition.

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.

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.

Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation reserve in funds. Decreases that offset previous increases of the same asset are charged against fair value reserves directly in funds; all other decreases are recognised in profit or loss.

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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.

Plant and equipment are measured on the cost basis and are therefore carried at cost less accumulated depreciation and any accumulated impairment losses. In the event the carrying amount of plant and equipment is greater than its estimated recoverable amount, the carrying amount is written down immediately to its estimated recoverable amount and impairment losses are recognised either in profit or loss or as a revaluation decrease if the impairment losses relate to a revalued asset.

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 co-operative and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred.

Depreciation

(d) Leases

(e) Financial Instruments

Initial Recognition and Measurement


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's useful life to the co-operative commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.

19

(continued)

The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are recognised as income in profit or loss in the period in which they arise. When revalued assets are sold, amounts included in the revaluation surplus relating to that asset are transferred to retained surplus.

Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to the co-operative, are classified as finance leases.

Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

Leased assets are depreciated on a straight-line basis over the shorter of their estimated useful lives or the lease term.

Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred.

Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions to the instrument. For financial assets, this is equivalent to the date that the company commits itself to either purchase or sell the asset (ie trade date accounting is adopted).

Financial instruments are initially measured at fair value plus transaction costs except where the instrument is classified “at fair value through profit or loss”, in which case transaction costs are recognised as expenses in profit or loss immediately.

Classification and subsequent measurement

(i)

(ii)

(iii) Held-to-maturity investments

Financial instruments are subsequently measured at fair value, amortised cost using the effective interest method, or cost. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.


Amortised cost is calculated as the amount at which the financial asset or financial liability is measured at initial recognition less principal repayments and any reduction for impairment, and adjusted for any cumulative amortisation of the difference between that initial amount and the maturity amount calculated using the effective interest method.

The effective interest method is used to allocate interest income or interest expense over the relevant period and is equivalent to the rate that exactly discounts estimated future cash payments or receipts (including fees, transaction costs and other premiums or discounts) through the expected life (or when this cannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amount of the financial asset or financial liability. Revisions to expected future net cash flows will necessitate an adjustment to the carrying amount with a consequential recognition of an income or expense item in profit or loss.

Financial assets at fair value through profit or lossFinancial assets are classified at “fair value through profit or loss” when they are either held for trading for the purpose of short-term profit taking, derivatives not held for hedging purposes, or when they are designated as such to avoid an accounting mismatch or to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Such assets are subsequently measured at fair value with changes in carrying amount being included in profit or loss.

Loans and receivablesLoans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost. Gains or losses are recognised in profit or loss through the amortisation process and when the financial asset is derecognised.

Held-to-maturity investments are non-derivative financial assets that have fixed maturities and fixed or determinable payments, and it is the company’s intention to hold these investments to maturity. They are subsequently measured at amortised cost. Gains or losses are recognised in profit or loss through the amortisation process and when the financial asset is derecognised.

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(iv) Available-for-sale investments

(v) Financial liabilities

Impairment

(continued)

Available-for-sale financial assets are classified as non-current assets when they are not expected to be sold within 12 months after the end of the reporting period. All other available-for-sale financial assets are classified as current assets.

Non-derivative financial liabilities other than financial guarantees are subsequently measured at amortised cost. Gains or losses are recognised in profit or loss through the amortisation process and when the financial liability is derecognised.

At the end of each reporting period, the company assesses whether there is objective evidence that a financial asset has been impaired. A financial asset or a group of financial assets will be deemed to be impaired if, and only if, there is objective evidence of impairment as a result of the occurrence of one or more events (a “loss event”), which has an impact on the estimated future cash flows of the financial asset(s).

In the case of available-for-sale financial assets, a significant or prolonged decline in the market value of the instrument is considered a loss event. Impairment losses are recognised in profit or loss immediately. Also, any cumulative decline in fair value previously recognised in other comprehensive income is reclassified into profit or loss at this point.

In the case of financial assets carried at amortised cost, loss events may include: indications that the debtors, or a group of debtors, are experiencing significant financial difficulty, default or delinquency in interest or principal payments; indications that they will enter into bankruptcy or other financial reorganisation; and changes in arrears or economic conditions that correlate with defaults.

21

Available-for-sale investments are non-derivative financial assets that are either not capable of being classified into other categories of financial assets due to their nature or they are designated as such by management. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments.


They are subsequently measured at fair value with any remeasurements other than impairment losses and foreign exchange gains and losses recognised in other comprehensive income. When the financial asset is derecognised, the cumulative gain or loss pertaining to that asset previously recognised in other comprehensive income is reclassified into profit or loss.

Derecognition

(f) Employee ProvisionsShort-term employee provisions

Other long-term employee provisions

Provision is made for the company’s obligation for short-term employee benefits. Short-term employee benefits are benefits (other than termination benefits) that are expected to be settled wholly before 12 months after the end of the annual reporting period in which the employees render the related service, including wages, salaries and sick leave. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled.

Provision is made for employees’ long service leave and annual leave entitlements not expected to be settled wholly within 12 months after the end of the annual reporting period in which the employees render the related service. Other long-term employee benefits are measured at the present value of the expected future payments to be made to employees. Expected future payments incorporate anticipated future wage and salary levels, durations of service and employee departures, and are discounted at rates determined by reference to market yields at the end of the reporting period on government bonds that have maturity dates that approximate the terms of the obligations. Upon the remeasurement of obligations for other long-term employee benefits, the net change in the obligation is recognised in profit or loss as part of employee benefits expense.

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For financial assets carried at amortised cost (including loans and receivables), a separate allowance account is used to reduce the carrying amount of financial assets impaired by credit losses. After having undertaken all possible measures of recovery, if the management establishes that the carrying amount cannot be recovered by any means, at that point the written-off amounts are charged to the allowance account or the carrying amount of impaired financial assets is reduced directly if no impairment amount was previously recognised in the allowance accounts.

When the terms of financial assets that would otherwise have been past due or impaired have been renegotiated, the company recognises the impairment for such financial assets by taking into account the original terms as if the terms have not been renegotiated so that the loss events that have occurred are duly considered.


Financial assets are derecognised where the contractual rights to receipt of cash flows expire or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability, which is extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non-cash assets or liabilities assumed, is recognised in profit or loss.

(g)

(h) Goods and Services Tax (GST)

(i) Income Tax

(j) Comparative Figures

(k)

(l) Limited Liability

(continued)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the statement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from or payable to, the ATO are presented as operating cash flows included in receipts from customers or payments to suppliers.

No provision for income tax has been raised as the entity is exempt from income tax under Div 50 of the Income Tax Assessment Act 1997.

The company’s obligations for long-term employee benefits are presented as non-current employee provisions in its statement of financial position, except where the company does not have an unconditional right to defer settlement for at least 12 months after the end of the reporting period, in which case the obligations are presented as current provisions.

Cash on HandCash on hand includes cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.


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

Accounts Payable and Other PayablesAccounts payable and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

The co-operative is a co-operative limited by guarantee. In the event of the co-operative being wound up, the liability owed to each current member is $1.

23

2. SEGMENT INFORMATION

3. REVENUE FROM ORDINARY ACTIVITIES

2016 2015$ $

Revenue from operating activitiesPoker machine receipts 1,014,454 1,139,125 Bar sales 763,343 772,329 Bowling greens 52,077 48,678 Commissions 26,313 20,150 Other Income 53,477 47,045

1,909,663 2,027,327

Revenues from non-operating activitiesInterest received 14,634 16,387 Total revenues from outside the operating activities 14,634 16,387 Total revenues from operating activities 1,924,297 2,043,714


The co-operative operates primarily in one industry. The principle activity of the co-operative is the promotion and provision of facilities for the game of lawn bowls in conjunction with recreation and social benefits provided for members. The co-operative operates in one geographical area being Campbelltown, New South Wales.

24

2016 2015$ $

4. PROFIT FROM ORDINARY ACTIVITIES

(a) Expenses

Depreciation of non-current assets- Buildings 17,337 17,337 - Plant & Equipment 38,715 37,957

Total depreciation of non-current assets 56,052 55,294

Provision for employee entitlements 2,830 6,478

Auditors’ remuneration

- Auditing the financial report 8,500 8,500 - Other services 8,000 8,000

Total auditors’ remuneration 16,500 16,500

(b) Cost of salesOpening inventory 34,273 24,343 Purchases - Bar 380,511 392,885 Freight inwards 7,527 8,072 Less: Closing inventory (27,844) (34,273)Total Cost of sales - Bar 394,467 391,027

Poker machine payouts 699,625 814,130 Total Cost of sales – Poker machines 699,625 814,130 Total Cost of sales 1,094,092 1,205,157

Profit from ordinary activities before income tax includes the following specific net gains and expenses

Amounts received, or due and receivable, by the auditors for:

25


2016 2015$ $

5. CURRENT ASSETS - Cash AssetsCash at bank

- NAB General account 3,700 92,689 - NAB Term deposit 268,473 559,404 - NAB Poker machine account - 20,168 - NAB Club Keno account - 3,988 - NAB TAB account - 7,771 - NAB GST offset account - 180 - BOQ Cheque account 35,273 - - BOQ TAB account 7,000 - - BOQ Keno account 4,000 - - BOQ LSL account 22,498 - - BOQ Poker machine account 50,055 - - BOQ Term deposit 250,000 -

Total cash at bank 641,000 684,199

Other cash items- Cash on hand 55,667 66,098

Total other cash 55,667 66,098 Total cash assets 696,668 750,297

6. CURRENT ASSETS - ReceivablesTAB Security Deposit 5,000 5,000 Deposits 1,650 1,650 Total receivables 6,650 6,650

7. CURRENT ASSETS - InventoriesLiquor stock – at cost 27,844 34,273 Total inventories 27,844 34,273

8. CURRENT ASSETS - Other AssetsPrepayments – insurance 8,628 10,579 Total other assets 8,628 10,579


26

2016 2015$ $

9. NON-CURRENT ASSETS - Property, Plant & Equipment

Land and buildingsFreehold Land – at valuation 1,500,000 1,500,000 Buildings – at valuation 193,133 193,133 Buildings – at cost 380,922 380,922 Accumulated depreciation (241,627) (224,290)

332,428 349,765 Total land and buildings 1,832,428 1,849,765

Plant and equipmentPlant and equipment – at valuation - 274,150 Plant and equipment – at cost 1,092,036 775,162

1,092,036 1,049,312 Accumulated depreciation (985,994) (947,279)Total plant & equipment 106,042 102,033 Total property, plant & equipment 1,938,470 1,951,798

(a) Valuations

(b) Core Property

27

The co-operative’s land was revalued in June 2009 and September 2013 at $1,500,000. No adjustment to Asset Revaluation Reserve was required. The valuation did not change when carried out in September 2013 as this value is based on the land being used for the purpose of a bowling and recreation club.

The co-operative’s land was revalued in June 2004. A sum of $1,387,923 was transferred to the Asset Revaluation Reserve in 2004.

All property of the club is considered core property under section 41J(2) of the Registered Clubs Act 1976.


The co-operative’s plant & equipment was revalued in May 1999. A sum of $5,887 was transferred to the Asset Revaluation Reserve in 1999.

2016 2015$ $

10. CURRENT LIABILITIES - PayablesTrade creditors and accruals 18,827 49,271 Total payables 18,827 49,271

11. CURRENT LIABILITIES -Interest bearing liabilities National Australia Bank - Visa - 41

- 41

12. CURRENT LIABILITIES - ProvisionsProvision for long service leave 21,850 20,168 Provision for annual leave 16,421 15,273 Total provisions 38,271 35,441

13. NON CURRENT LIABILITIES – Members Share Capital

1,199 1,185 1,199 1,185

14. FUNDS – General FundsGeneral Funds at the beginning of the Financial Year 1,273,848 1,318,381

Net Profit for Year (47,696) (44,533)

General Funds at the end of the Financial Year 1,226,152 1,273,848

15. FUNDS – ReservesAsset revaluation reserve 1,393,810 1,393,810 Total reserves 1,393,810 1,393,810

Movements during the yearOpening Balance 1,393,810 1,393,810 Asset revaluation reserve - - Closing Balance 1,393,810 1,393,810

16. LEASE COMMITMENTS There are no lease commitments in place as at 30 June 2016.

28


If the co-operative is wound up and on ceasing membership all current members share capital is refundable at $1 per member.

17. CONTINGENT LIABILITIESThe club has total credit facilities of $NIL as at 30 June 2016 (2015 $NIL)

18. STATEMENT OF CASH FLOWS(a) Reconciliation of cash

2016 2015$ $

Cash assets as per statement of financial position 696,668 750,297

Cash as per statement of cash flows 696,668 750,297

(b) Reconciliation of net cash flows from operatingactivities to operating profitOperating profit/(loss) (47,696) (44,533)

Adjustments for:Depreciation 56,052 55,295

Provision for Employee Entitlements 2,830 6,478

Investment income (14,634) (16,387)

(3,448) 853

Changes in assets & liabilities:Decrease/(Increase) in trade & other receivables - -

Decrease/(Increase) in other current assets 1,950 2

Decrease/(Increase) in inventories 6,429 (9,930)

Increase/(Decrease) in creditors (14,363) 17,877

Increase/(Decrease) in other current liabilities (16,123) 11,436

Increase/(Decrease) in other non-current liabilities 14 (141)Cash flow from operating activities (25,541) 20,097

19. EVENTS AFTER THE REPORTING PERIODThe directors are not aware of any significant events since the end of the reporting period.

29


For the purposes of this Statement of Cash Flows, cash includes cash on hand and deposits with banks or financial institutions, net of bank overdrafts.

Cash at the end of the financial year is reconciled to the related items in the statement of financial position as follows:

20. FINANCIAL RISK MANAGEMENT

Note 2016 2015$ $

Financial assetsCash on hand 5 696,668 750,297

Accounts receivable and other debtors 6 6,650 6,650 Total financial assets 703,318 756,947

Financial liabilitiesAccounts payable and other payables 10 18,827 49,271

Secured interest bearing liabilities 11 - -

Unsecured interest bearing liabilities 11 - 41 Total financial liabilities 18,827 49,312

Financial Risk Management Policies

Specific Financial Risk Exposures and Management


The co-operative’s financial instruments consist mainly of deposits with banks, local money market instruments, receivables and payables, and lease liabilities.

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:

The board is responsible for monitoring and managing the co-operative’s compliance with its risk management strategy. The board’s overall risk management strategy is to assist the co-operative in meeting its financial targets while minimising potential adverse effects on financial performance. Risk management policies are approved and reviewed by the board on a regular basis. These include credit risk policies and future cash flow requirements.

The main risks the co-operative is exposed to through its financial instruments are credit risk, liquidity risk and market risk relating to interest rate risk and other price risk.There have been no substantive changes in the types of risks the co-operative is exposed to, how these risks arise, or the board’s objectives, policies and processes for managing or measuring the risks from the previous period.

30

a. Credit risk

Credit risk exposures

b. Liquidity risk

-

- maintaining a reputable credit profile;- managing credit risk related to financial assets;- only investing surplus cash with major financial institutions; and-

The table below reflects an undiscounted contractual maturity analysis for non-derivative financial liabilities. The co-operative does not hold directly any derivative financial liabilities.Cash flows realised from financial assets reflect management’s expectation as to the timing of realisation. Actual timing may therefore differ from that disclosed. The timing of cash flows presented in the table to settle financial liabilities reflects the earliest contractual settlement dates.

31

preparing forward-looking cash flow analysis in relation to its operational, investing and financing activities;


comparing the maturity profile of financial liabilities with the realisation profile of financial assets.

The co-operative has no significant concentrations of credit risk exposure to any single counterparty or group of counterparties. Details with respect to credit risk of accounts receivable and other debtors are provided in Note 6.Credit risk related to balances with banks is managed by the board. Board policy requires that surplus funds are only invested with Australian major financial institutions.

Liquidity risk arises from the possibility that the co-operative might encounter difficulty in settling its debts or otherwise meeting its obligations in relation to financial liabilities. The co-operative manages this risk through the following mechanisms:

Exposure to credit risk relating to financial assets arises from the potential non-performance by counterparties of contract obligations that could lead to a financial loss for the co-operative.The co-operative does not have any material credit risk exposures as its major source of revenue is the receipt of poker machine and bar revenue.

The maximum exposure to credit risk by class of recognised financial assets at the end of the reporting period is equivalent to the carrying value and classification of those financial assets (net of any provisions) as presented in the statement of financial position.Accounts receivable and other debtors that are neither past due nor impaired are considered to be of high credit quality. Aggregates of such amounts are detailed at Note 6.

Financial liability and financial asset maturity analysis

2016 2015 2016 2015 2016 2015 2016 2015

$ $ $ $ $ $ $ $

18,827 49,271 - - - - 18,827 49,271

Interest bearing liabilities - 41 - - - - - 41

Total expected outflows 18,827 49,312 - - - - 18,827 49,312

Cash on hand 696,668 750,297 - - - - 696,668 750,297

- - - - 6,650 6,650 6,650 6,650

Other financial assets - - - - - - - -

Total anticipated inflows 696,668 750,297 - - 6,650 6,650 703,318 756,947

677,841 700,985 - - 6,650 6,650 684,491 707,635

c. Market risk(i) Interest rate risk

(ii) Other price risk

32

Exposure to interest rate risk arises on financial assets and financial liabilities recognised at the end of the reporting period whereby a future change in interest rates will affect future cash flows or the fair value of fixed rate financial instruments. The co-operative is also exposed to earnings volatility on floating rate instruments.

The financial instruments that expose the co-operative to interest rate risk are limited to lease liabilities, government and fixed interest securities, and cash on hand.

The co-operative also manages interest rate risk by ensuring that, whenever possible, payables are paid within any pre-agreed credit terms.

Other price risk relates to the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk or currency risk) of securities held.

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS(continued )

Within 1 Year 1 to 5 Years Over 5 Years Total

Accounts payable and other payables (excluding deferred income)

Financial liabilities due for payment

Accounts receivable and other debtors

Net (outflow)/inflow on financial instruments

Financial assets – cash flows realisable

Fair ValuesFair value estimation

Note Carrying Amount

Fair Value

Carrying Amount

Fair Value

$ $ $ $Financial assetsCash on hand (i) 178,194 178,194 190,893 190,893

Accounts receivable and other debtors (i) 6,650 6,650 6,650 6,650

Available-for-sale financial assets:- at fair value: - - - -

- at fair value: - - - -

Held-to-maturity financial assets:- government and fixed interest securities (iii) 518,473 518,473 559,404 559,404

Total financial assets 703,318 703,318 756,947 756,947

Financial liabilitiesAccounts payable and other payables (i) 18,827 18,827 49,271 49,271

Interest bearing liabilities (iv) - - 41 41

Total financial liabilities 18,827 18,827 49,312 49,312

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS(continued )

20152016

Financial assets at fair value through profit or loss:

33

The fair values of financial assets and financial liabilities are presented in the following table and can be compared to their carrying amounts as presented in the statement of financial position. Fair value is the amount at which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.

Fair value may be based on information that is estimated or subject to judgment, where changes in assumptions may have a material impact on the amounts estimated. Areas of judgment and the assumptions have been detailed below. Where possible, valuation information used to calculate fair values is extracted from the market, with more reliable information available from markets that are actively traded.

Differences between fair values and carrying amounts of financial instruments with fixed interest rates are due to the change in discount rates being applied by the market since their initial recognition by the co-operative. Most of these instruments, which are carried at amortised cost (ie accounts receivables, loan liabilities), are to be held until maturity and therefore the fair value figures calculated bear little relevance to the co-operative.

The fair values disclosed in the above table have been determined based on the following methodologies:

(i)

(ii)

(iii)

The entity’s capital consists of financial liabilities, supported by financial assets.

21. ENTITY DETAILS

The registered office of the entity is:Campbelltown City Bowling Club Co-operative LimitedPO Box 98CAMPBELLTOWN NSW 2560

The principal place of business is:Campbelltown City Bowling Club Co-operative LimitedCnr Browne & Howe StreetsCAMPBELLTOWN NSW 2560

Cash on hand, accounts receivable and other debtors, and accounts payable and other payables are short-term instruments in nature whose carrying amount is equivalent to fair value. Trade and other payables exclude amounts provided for annual leave, which is outside the scope of AASB 139.Fair values of held-to-maturity investments are based on quoted market prices at the end of the reporting period.

34

There have been no changes to the strategy adopted by management to control the capital of the entity since the previous year.

The co-operative is incorporated under the Corporations Act 2001 and is a co-operative limited by guarantee. If the co-operative is wound up, the constitution states that each member is required to be refunded a maximum of $1 each . At 30 June 2016, the number of members was 1,199.

Fair values are determined using a discounted cash flow model incorporating current commercial borrowing rates. The fair values of fixed rate debt will differ to the carrying amounts.

Board and management control the capital of the entity to ensure that adequate cash flows are generated to fund its operations and that returns from investments are maximised within tolerable risk parameters. The board ensures that the overall risk management strategy is in line with this objective.

Risk management policies are approved and reviewed by the board on a regular basis. These include credit risk policies and future cash flow requirements.

The Board and management effectively manage the entity’s capital by assessing the entity’s financial risks and responding to changes in these risks and in the market. These responses may include the consideration of debt levels.

(continued )NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

Schedule 6


A.B.N. 69 005 560 293

DIRECTORS' DECLARATION

The directors of the Co-operative declare that:

The financial statements and notes, as set out on pages 13 to 34 are in accordance with the

Corporations Act 2001:

(a) comply with Accounting Standards as detailed in Note 1 to the financial

statements and the Corporations Act 2001; and

(b) give a true and fair view of the co-operative's financial position as at 30 June 2016

and of its performance for the year ended on that date.

In the directors' opinion there are reasonable grounds to believe that the co-operative 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 and is signed for and

on behalf of the directors by:

Chairman Z,

Gregory HANKER

Treasurer /

Colin Appleby

Dated at Campbelltown

this 1st day of September 2016

35

Scope

The directors are solely responsible for the information contained in the special purpose financial report.

Flegg Kehlet Wagner

Rodney Wagner

Campbelltown

1st September 2016

Our procedures use accounting expertise to collect, classify and summarise the financial information, which the Client provided, into a financial report. Our procedures do not include verification or validation procedures. No audit or review has been performed and accordingly no assurance is expressed.

36


COMPILATION REPORT ON ADDITIONAL FINANCIAL INFORMATION

To the extent permitted by law, we do not accept liability for any loss or damage which any person, other than the Client, may suffer arising from any negligence on our part. No person should rely on the special purpose financial report without having an audit or review conducted.

The special purpose financial report was prepared for the benefit of the Client for the purpose identified above. We do not accept responsibility to any other person for the contents of the special purpose financial report.

On the basis of information provided by the Client, we have compiled in accordance with APS 9 "Statement on Compilation of Financial Reports" the special purpose financial report of the Client for the year ended 30 June 2016 as set out on pages 37 to 48.

A.B.N. 69 005 560 293

2016 2015$ $

GENERAL

OTHER INCOME

Function Income 2,546.37 1,640.00

Competitions 24,371.81 22,870.11

Membership Income 3,478.80 1,396.41

Sundry Income 5,900.00 3,957.00

Commissions Received 449.18 609.45

Interest Received 14,634.40 16,387.47

51,380.56 46,860.44

EXPENSES

Audit & Accountancy Fees 16,500.00 16,500.00

Advertising & Promotion 3,818.18 7,559.38

Affiliation Entries & Levies 3,188.07 2,951.67

Bank Charges 2,337.14 2,186.01

Cleaning & Laundry 10,294.52 4,174.66

Cleaning Contractors 56,857.15 54,850.00

Computer Expenses 7,460.35 17,100.96

Competitions 44,619.74 40,916.85

Depreciation 12,314.62 12,148.09

Donations 100.00 652.71

Electricity 10,690.41 11,626.43

Entertainment Expenses 5,126.95 840.00

Gas 2,572.47 3,818.10

General Expenses 4,018.52 2,084.65

Hire of Plant & Equipment 946.89 1,579.23

Honorariums & Allowances Paid 9,300.00 11,000.00

Insurance 14,259.47 14,984.93

Interest 3.81 -

Leasing Charges - 2,275.00

Licence Fees 1,549.85 2,454.62

1,147.38 6,696.31

1,682.52 (218.42)

Printing & Stationery 9,169.78 11,433.68

Public Relation Expenses 3,414.60 4,338.80

Rates 20,898.98 20,467.49

Repairs & Maintenance 14,439.59 11,152.91

These statements are to be read in conjunction with the attached compilation report.

37

CAMPBELLTOWN CITY BOWLING CLUB CO-OPERATIVE LIMITEDA.B.N. 69 005 560 293

DEPARTMENTAL TRADING, PROFIT AND LOSS STATEMENTFOR THE YEAR ENDED 30 JUNE 2016

Provision for Sick & Holiday Pay (Adjustment)

Provision for Long Service Leave (Adjustment)

2016 2015$ $

Security 10,956.75 11,397.50

Sky Channel Costs 19,685.73 18,671.97

Staff Amenities 768.42 5,490.36

Superannuation 9,913.83 8,513.42

Telephone 6,549.27 5,902.23

Travelling Expenses - Bus Hire 4,644.64 8,143.35

Travelling 259.79 1,050.22

Waste Disposal 6,308.89 6,426.14

Wages 105,641.08 100,603.02

421,439.39 429,772.27 NET LOSS (370,058.83) (382,911.83)



38


A.B.N. 69 005 560 293

2016 2015$ $

BAR OPERATIONS

Sales 763,342.86 772,328.85

LESS: COST OF GOODS SOLD

Opening Stock 34,272.88 24,343.17

Purchases 380,510.94 392,884.52

Inward Freight & Cartage 7,527.13 8,071.98

Closing Stock (27,843.87) (34,272.88)

394,467.08 391,026.79

GROSS PROFIT FROM TRADING 368,875.78 381,302.06

OTHER INCOME

Club Keno Commission 12,656.55 10,362.69

TAB Commission 13,207.47 9,178.18

25,864.02 19,540.87

394,739.80 400,842.93

EXPENSES

Cleaning & Laundry 113.38 893.67

Depreciation 3,906.82 3,854.02

Electricity 12,472.06 12,680.07

Gas 8,170.75 5,517.28

General Expenses 1,593.46 1,711.56

Insurance 7,156.23 7,089.40

Keno Costs 979.43 564.38


Stocktaking 4,320.00 3,960.00


TAB - Kiosk Terminal Fee 7,500.00 7,815.00

Wages 138,815.97 134,798.66

203,324.85 200,213.33

191,414.95 200,629.60


39



2016 2015$ $

POKER MACHINES

Poker Machine Receipts 1,014,453.64 1,139,125.39

LESS: COST OF GOODS SOLDLess Prizes (not paid by machines) and Refills 699,625.05 814,130.31

GROSS PROFIT FROM TRADING 314,828.59 324,995.08

OTHER INCOMERebates Received 17,180.00 17,180.00

332,008.59 342,175.08

EXPENSESData Processing Costs 4,116.00 3,422.60

DMS Data Monitoring Services 12,571.54 12,218.15

Depreciation 39,606.34 39,070.74

Electricity 5,345.19 5,609.15

Insurance 3,794.26 3,753.11

Licence Fees 12,939.82 12,408.00



Wages 74,354.65 72,583.88

168,557.61 167,052.70

NET PROFIT 163,450.98 175,122.38


40



2016 2015$ $

BOWLING GREENS

Green Fees Received 43,393.25 45,678.48

Sponsorship Income 8,683.51 3,000.00

52,076.76 48,678.48

EXPENSESDepreciation 224.21 221.18

Electricity 7,126.95 7,478.88

Insurance 1,152.40 1,253.18


Sub Contractors 73,851.64 72,730.92

Trophies - 1,200.00

84,579.57 86,051.44

NET LOSS (32,502.81) (37,372.96)


41

A.B.N. 69 005 560 293



2016 2015$ $

SUMMARY OF DIVISIONAL PROFITS

General (370,058.83) (382,911.83)

Bar Operations 191,414.95 200,629.60

Poker Machines 163,450.98 175,122.38

Bowling Greens (32,502.81) (37,372.96)

Net Profit / (Loss) (47,695.71) (44,532.81)


42



2016 2015$ $

OPERATING PROFIT

Before Income Tax (47,695.71) (44,532.81)

Income Tax Expense - -

Operaing Profit for the Year (47,695.71) (44,532.81)

Operaing Profit and Extraordinary Items (47,695.71) (44,532.81)

General Funds at 1 July 1,273,848.19 1,318,381.00

Profit Available for Appropriation 1,226,152.48 1,273,848.19

General Funds 1,226,152.48 1,273,848.19

43


A.B.N. 69 005 560 293



2016 2015$ $

SHARE CAPITAL AND RESERVES

Asset Revaluation Reserve 1,393,810.00 1,393,810.00

Retained earnings 1,226,152.49 1,273,848.20

TOTAL SHARE CAPITAL AND RESERVES 2,619,962.49 2,667,658.20

Represented by:

ASSETS

CURRENT ASSETS

Cash on Hand 55,667.35 66,097.60

BOQ - Cheque Account 35,273.14 -

BOQ - TAB Account 7,000.01 -

BOQ - Keno Account 3,999.99 -

BOQ - LSL Account 22,498.28 -

BOQ - Poker Machine Account 50,055.12 -

BOQ - Term Deposit 250,000.00 -

NAB - Cash at Bank 3,700.39 92,689.20

NAB - TAB Account - 7,770.90

TAB Security Deposit 5,000.00 5,000.00

NAB - Term Deposit - 297,174.08

NAB - GST Offset Account - 180.00

NAB - Term Deposit 268,473.39 262,229.73

Deposits 1,650.00 1,650.00

NAB - Poker Machine Account - 20,167.88

NAB - Club Keno Account - 3,987.59

Stock on Hand - Bar 27,843.87 34,272.88

Prepayments 8,627.96 10,578.69

TOTAL CURRENT ASSETS 739,789.50 801,798.55

NON CURRENT ASSETS

Fixed Assets

Freehold Land - Independent Valuation 10/09/2013 1,500,000.00 1,500,000.00

Buildings - at Cost 574,055.19 574,055.19

Less Prov'n for Depreciation (241,627.00) (224,290.00)

1,832,428.19 1,849,765.19

44


DETAILED BALANCE SHEETFOR THE YEAR ENDED 30 JUNE 2016


2016 2015$ $

Plant & Equipment - Valuation 1,060,341.00 1,017,617.00


105,595.07 99,456.06

Kitchen Plant & Equipment - at Cost 31,694.73 31,694.73


446.73 2,576.73

Total Fixed Assets 1,938,469.99 1,951,797.98

TOTAL NON CURRENT ASSETS 1,938,469.99 1,951,797.98

TOTAL ASSETS 2,678,259.49 2,753,596.53




45

2016 2015$ $

LIABILITIES

CURRENT LIABILITIES

Trade Creditors 21,329.28 35,691.95

Other Creditors - BAS Payable (7,506.23) 13,579.33

Provision for Long Service Leave 21,850.40 20,167.88

Provision for Holiday Pay 16,420.55 15,273.17

NAB - Business Visa Card - 41.00

Subscriptions in Advance 5,004.00 -

TOTAL CURRENT LIABILITIES 57,098.00 84,753.33

NON CURRENT LIABILITIES

Members - Share Capital 1,199.00 1,185.00

TOTAL NON CURRENT LIABILITIES 1,199.00 1,185.00

TOTAL LIABILITIES 58,297.00 85,938.33 NET ASSETS 2,619,962.49 2,667,658.20


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A.B.N. 69 005 560 293CAMPBELLTOWN CITY BOWLING CLUB CO-OPERATIVE LIMITED


Chairman: G HawkerTreasurer: C Appleby

Campbelltown City Bowling Club is subject to the provisions of the Privacy Act 1988.

Campbelltown City Bowling Club Co-Operative LtdCnr Browne & Howe Streets, Campbelltown

Phone: 46 251043 Fax 46 256232Email: [email protected]

A.B.N. 69 005 560 293

Campbelltown City Bowling Club is committed to responsible Gaming. As a member of ClubSafe we abide by Responsible Conduct of Gaming Best Practice Guidelines. These Best Practice Guidelines represent an approach where the environment in which gambling is conducted minimises harm and meets community expectations. Campbelltown City Bowling Club aspires to achieve a harm minimisation objective in their gambling operations.

Campbelltown City Bowling Club has procedures in place for self-exclusion that can be used to assist you if you think you have a problem with gambling.

The scheme is voluntary and for the benefit of patrons who wish to be prevented from entering or remaining in any nominated area of the club for the purpose of assisting patrons to control their gambling.

The club would be pleased to discuss this with you.

For further information about this Club’s Self Exclusion procedure or for support or advice, please contact the club secretary on (02) 4625 1043.

For information, counselling, and help referral call G-LINE (NSW) 24 hours a day, 365 days a year1800 633 635

AS A MEMBER OF CLUBSAFE, THIS CLUB HAS ARRANGEMENTS IN PLACE

WITHWESLEY COUNSELLING SERVICES

Telephone: 1800 99 77 66Monday – Friday 9am – 5pm

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FOR INFORMATION AND COUNSELLING SERVICES IN THE LOCAL AREA

The Club does not usually disclose your personal information to any other organisation or person unless there is a legal requirement to do so. Your personal information may be used by the Club for marketing purposes to improve our services and to provide you with the latest information about thoseservices and any new related services and promotions.

Chairman: G HawkerTreasurer: C Appleby

Email: [email protected]

Campbelltown City Bowling Club Co-Operative LtdCnr Browne & Howe Streets, Campbelltown

Phone: 46 251043 Fax 46 256232

A.B.N. 69 005 560 293

DISCRIMINATION

What is discrimination? Discrimination is treating someone less favourably than another because of an irrelevant personal characteristic that is covered by legislation.

HARASSMENT

What is harassment? Harassment is behaviour or comments that are unwanted or unwelcome and not returned; and is offensive, humiliating or intimidating; and is based on one, or more, of the personal characteristics covered such as sex, race, age etc.

Harassment is a balance between: The ‘eye’ of the beholder test – a person has the right to react in a particular behaviour in whatever way that person chooses. The seriousness of the behaviour is not diminished by how other people may have reacted to the same behaviour. The ‘reasonable persona’ test – would the behaviour be ‘reasonable’, bearing in mind the other personas gender, age, race, your relationship, or any other relevant factor such as Australians today? The main test of whether something is or isn’t harassment is how it effects the person it is directed at – NOT WHAT THE INTENTION WAS.

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Harassment may be a single incident, does not have to be intentional, usually involves an abuse of power or may also be a criminal offence.

VICTIMISATION

What is victimisation? Threats to subject, or actually subjecting someone to any form of detriment because they complain or support someone who complains.

LIABILITY

Campbelltown City Bowling Club can be legally liable for the action of its employees and members. Employees and members can be liable for their unlawful behaviour.Areas of public life where discrimination is unlawful include: employment, provision of goods and services, education, advertisements, accommodation, REGISTERED CLUBS, association with an industrial organisation.

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Campbelltown City Bowling Club Co-Operative LimitedResponsible Service of Alcohol

Maximum Penalty $ 5,500.00

On The Spot Fine $ 550.00

It is an offence to permit intoxication on a licensed venue(s.125, Liquor Act 1982 and s.44, Registered Clubs Act 1976).

Maximum Penalty $ 11,000.00

On The Spot Fine $ 550.00

It is an offence for a drunk, disorderly or violent patron to remain on a licensed venue after being asked

to leave(s.103(3), Liquor Act 1982 and s.67(A)(4), Registered Clubs Act 1976).

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