final mcleod golf club report v2 · annette goodall, ms julie della-pianna, mrs rita swan ,mrs...

CompanyInformation:McLeodCountryGolfClubACNNo.009773273ABNNo.96009773273Founded28February,1968,registeredintheRegisterofCompanies,Brisbane,Queensland,18June,1968.Patron: RachelHetherington LifeMembers: MrsJanEdmunds MrsClaireTaylor MsHildaReidBoard: President MrsCarolynMcIlvenny VicePresident MrsMerylMcKenzie

Secretary MsCathyNichols Treasurer MrsJennySmith Captain MrsColletteByrne Vice-Captain MsSueRutherford GreensDirector MrsJulieMorrisonBoardAppointments CompanySecretary MrsJennySmith

Handicapper MrsLynneCavanagh BDLGADelegate MsSueRutherfordRegisteredOffice: GertrudeMcLeodCrescent,MtOmmaneyQld4074Communications: PostalAddress 61GertrudeMcLeodCrescent,MtOmmaney,Qld,4074 Telephone 0733763666 Facsimile 0733763923 Starter’sPhone 0428492354 Email [email protected]: ClubManager MrSeanKennedy CourseSuperintendent MrCraigClarkeGolfProfessional: MrSakLeeBankers: CommonwealthBankofAustralia,MtOmmaneyQld4074Solicitors: McInnesWilsonAuditors: RWMCharteredAccountantsInsuranceBrokers: Austcover/AustralianInsuranceSolutions

Statutory:

Appeal Mrs Debra Daly, Mrs Diane Lally, Mrs Leonie Newton, Tim Deakin, NigelFairhurst

Finance MrsJenniferSmith(Chair),MrTonyO’Connor,MrDanFenton,MrsMichelle

LangdonMatch MrsColletteByrne (Chair), Ms SueRutherford, Mrs LynneCavanagh,Mrs

AnnetteGoodall,MsJulieDella-Pianna,MrsRitaSwan,MrsGayleStewart,MrsLindaGroves,MrsTrishPressland,MsMary-AnneVos,MrsSandraCroft.

Greens MrsJulieMorrison(Chair),MrBruceSmithHouse MrsM.McKenzie(Chair),MrsCecilyBoyd,MrsPamHartwell,MrWayneGane,

MrsJulieGlassop,MrsSandraAndrewsRisk&audit Mrs Meryl Mckenzie (Chair), Mr David Boyd, Mrs Diane Lally, Mr Peter

Atkinson Jubilee Mrs Sandra Hall (Chair), Mrs Julie Glassop, Mrs Pam Hartwell, Mrs Meryl

McKenzie, Mrs Deborah Marsland, Mrs Margaret McGrath, MRs BettyJohnston

ElectedCommittees:SeniorLadies PatronDaphnePirieMBEAO

Mrs Wendy Hooker (President), Mrs Annette Goodall (Captain), Ms GailFrawley(Secretary),MrsJudyFrazer(Treasurer)

Committee:MrsJanWalker,MrsJoMorton,MsNinaPhillipsFellows MrScottMalson (President),MrPeterGlassop (Captain),MrNoelMcCabe

(Treasurer), Mr Ian McGaw (Secretary), Mr Rodney Butler (Handicapper),Committee:MrStanMann,MrPeterMarsland,MrStuartCanham

Veterans MrDavid Boyd (President),MrBillNewcombe (Captain),MrBruceGearing

(Treasurer),MrPatMcKinney(Secretary)Committee:MrMikeHeycock,MrGarrySwalling,MrMalLancaster,MrDonPinel

MEMBERSHIPBYCATEGORY-30/09/17 2013 2014 2015 2016 2017 Change

Ordinary Members 194 188 189 183 167 -16 Ordinary Fellows 156 125 151 136 159* +23* Senior Ordinary Members 31 27 27 37 38 +1 Senior Ordinary Fellows 34 38 37 40 44 +4 Provisional A Fellows 72 56 11 59 Category

Removed* -59

Provision B Fellows** 8 48 14 3 10 +7 Gateway Members 24 8 11 9 4 -5 Gateway Fellows 29 20 36 21 13 -8 5 Day Members 33 29 27 30 32 +2 5 Day Fellows 25 25 23 22 25 +3 Intermediate Member 0 1 0 0 0 0 Intermediate Fellow 1 4 5 2 4 +2 Junior Members 13 1 6 4 5 +1 Junior Fellows 22 18 22 9 9 0 Student Member 1 1 0 0 1 +1 Student Fellows 10 15 11 6 6 0 Honorary Member 2 2 3 6 6 0 Honorary Fellows 2 1 1 8 10 +2 Life Members 2 2 2 2 2 0 Life Member – Non Playing 2 1 1 1 1 0 McLeod Social Club 0 11 15 23 28 +5 Pay As You Golf 7 11 5 6 3 -3 Perpetual Members 21 19 19 16 15 -1 Perpetual Fellows 12 12 11 10 10 0 Country Members 1 0 0 1 1 0 Country Fellows 3 2 3 4 6 +2

Limited Members 31 30 19 12 8 -4 Limited Fellows 49 30 27 17 11 -6 Beginner Member – 6 Months 1 2 3 1 2 +1 Corporate Member 0 2 0 13 26 +13 Social Members 544 376 255 212 182 -30 Sub Junior Member 0 9 5 2 4 +2 Sub Junior Fellow 0 10 8 9 13 +4 Summer 3 month 1 0 -1 Temporary Member 0 1 0 0 0 0 Temporary Fellow 0 1 0 0 0 0 Young Professional Member 0 1 4 6 3 -3 Young Professional Fellow 0 21 45 47 56 +9 Total 1330 1149 996 958 904 -54 Total minus social 786 773 741 746 722 -24

*Provisional A now all Ordinary Fellows. Total of OF = OF + previous Prov A. Change represents combined change of OF and Prov A. **Provisional B automatically become OF after 12 months.

PRESIDENT’SREPORT2017–50THANNUALGENERALMEETING IampleasedtopresenttoyoumyReportfortheyearended30September2017.2017 was the year a Constitution was finally ratified and then a flood of grant successfollowed.TheGolfShopcompleteditsfirstfullyearofoperationundertheMcLeodbanner.Financesimprovedthroughouttheclub’soperations.Sponsorshipregaineditsmomentum.Upgradesoftheclubhousefacilitiescommenced.MembershipTrendsThestartof2017sawadeclineinmembershipasareactiontotheincreaseinfeesforthe2017year. ItshouldfirstbenotedthatMcLeodmembershiprateswerestill lessthanourneighboursandthatnotallofthosewholeftwereplayingmembersoftheclub,asnumbersincludedlossesinSocialandLimitedmembers.Ofgreatestconcern,however,wasthelossofOrdinaryFellowmembers.Someofthesehavenowreturned,othershavechosendifferentcategories,10movedbeyondthebordersofBrisbane,4becomeSeniorOrdinaryFellows,andanumberretiredfromgolf.LossesofOrdinaryMemberswasnotassignificant:3becameSeniorOrdinaryMembers,5movedbeyondthebordersofBrisbane,2movedtolowercostcategories,2retiredand2changedclubs.Itisunfortunatethatrisingcostshadtobepassedonintheformofmembershipsubscriptionincreases,howevernotallofthisincreasewentto McLeod. A significant portion of the increase actually went to 3rd party suppliers forinsuranceandaffiliationfees.It isalsounfortunatethatclubs, intryingtoattractsocialgolfers,continuetolowerpricesbeyondwhatiseconomicallyviable.Thisnowmeansthatwhenplayerslookforsocialgamestheynowdosoviathecheapestsites.Ultimately,thisisnotsustainableforclubs.Theabilityto gain cheap handicaps has also helped to force down membership rates and revenuethroughout the golfing world, with the end result crippling Clubs’ finances. Clubs weretraditionally happy for visitors to use other club’s facilities for little cost but with theintroductionofcheapmemberships,clubmembersarenowsubsidisingvisitorssubstantially.Tocounterthistrend,theBoardhastakenthestancethatvisitorsmustpaytoplayandthatitisaprivilege,notaright,toplayinaMcLeodcompetition.Allvisitorstotheclubmustnowpaygreenfeesinadditiontocompetitionfees.NewMembersOvertheyear,wehaveadded92newplayingmemberstotheclub,loweringouraverageageto59.2years-animprovementof5yearsoverthepreviousyear.Ouryoungestmemberis7yearsandoldestis96years. Maleaverageageisnow54.7years,dropping1.1years,andfemale63.8years,risingby0.1years.In2016,82%ofthemembershipwasaged46orolder,thishasnowmovedto78.8%in2017.TheaverageageofnewmembersatMcLeodisMales39.5yearscomparedtofemales45.7years-asignificantdropof3yearsforwomen.Intheperiod to October 2017, 73 newmales joined versus 19 new females. Increasing playingmembershipwillcontinuetobeastrategicpriorityin2018.

Towardsthisend,thefreebeginnersprogramhasbeenintroducinganamazingnumberofnewwomentothesportofgolf.WhowouldhavethoughtthatasingleFacebookadcouldattract120newwomengolferstotheclubfromthelocalCommunity?Wehavenowtakenthisinitialtrialanddevelopedafullyearprogramof3sessions,whichwillallowuptoafurther360newgolferstolearnthegamewealllove.Thecostoftheyear’sprogramiscoveredbythe“Getout,getactivegrant”fromtheQueenslandGovernment.Thecompletionratefromtheinitialtrialwas40%.Thisinitialgrouparenowpayingforlessons,buyinggolfgear,usingrange balls and starting to purchase Beginner or Gatewaymemberships. Please help tonurturethesegolfersastheystarttolearntherealgameoutonthecourse.IwanttothankSakLeeforhisgreatworkinthisarea.Thisisalongtermstrategyasyoudonotgostraightfromalearn-to-golfprogramtoplayingcompetitivegolf.BrisbaneInvitationalThe Brisbane Invitational was successfully run for the 3rd year, with rookie Helen DavisGrahamastheeventualwinner.Competitionwastightwithitlookinglikea3waytieuntilthelastcoupleofholes.Iamverypleasedtoannouncethatwebeensuccessfulinbringingonboardanamingrightssponsorforthe2018BrisbaneInvitational–SeasonsAgedCare.OnCourseOncourse,thenumberofpermanentpathwayscontinuetoincreasewithafurther315mofconcretepathwaylaidbytheMcLeodSons.Makingthecourseweather-proofcontinuestobeapriorityfortheclub.Inaddition,theMcLeodSonshaveupgradedallthebuggybridgesandbuiltanewwalkingbridgebetweenthe11thgreenandmen’s12thteeblock.Inaddition,thegreensstaffhavecompletelyrenovatedbunkersonthe10th,13thandpartiallyonthe8thand12th.TheCourseQualityStandardsandImprovementPlanhasbeenupdatedtoreflectthesecompletedpathwaysandbunkers.Theweederadicationprogramalsobeganinearnestin2017underCraig’sdirectionandwillcontinueinthecoming2years.Theimprovementingrass istestamenttowhatcanbeachieved. Rebuildingofthe15thand18thteeswasalsoundertaken.Ithasbeenabusyyearforourgreenstaffandthecourseisplayingbetterthaneverasaresultoftheirefforts.Pleasejoinmeinthankingthemfortheirexcellentefforts.GolfShopTheGolfShop,underthemanagementofMichelleWilliams,hashadastellaryear.Forthefirsttime,inagreatmanyyears,wenowhaverealdataastowhoandhowmanyroundsareactuallyplayedatMcLeod. Wehaveusedthiscollecteddatato furtherourpromotionofmembership,etc.Movingforward,itwillnowbepossibletosaywithcertaintywhetherweare seeing growth in social golf, a strategic priority. We have certainly seen growth incorporategolf thanks to theworkofSeanandhis team. Wewill continue topursue thisavenueasthegreateritssuccess,thequickerwecanmakeimprovements.Thanksmustalsogo to Deborah Marsland and Vanity Fairways as we, together, continue to tweak ourmerchandise.Theclub’sliquorlicencehasnowbeenextendedtoincludetheGolfShop.

Halfwayhouseoperationscontinuetorunata losswhichleadstoaneverendingcycleofdiscussion.Toimprovefoodofferingsoutsideofhalfwayhousehours,theGolfShopwillholdfoodoptionsin2018,aswasplannedintheinitialgolfshopstrategy.SponsorshipSponsorship and the development of partnerships with companies that will benefit themembersofMcLeodhasbeenakeyfocus.WewanttousethesepartnershipstoincreasethevalueofyourMcLeodMembershipbeyond justgolf. Iwould liketoacknowledgeourmajorsponsors:Hyundai,TonyHollandsFuneralsandLisaTerare.Onecarwashwasreplacedwithanother,Cargroomers,whodoagreat job. Mobilemechanics–MeakinMechanicalcameandwent, dentistry -Odontologica, physiotherapy–AlphaPhysio, tourism– TravelManagers&SkyDance,Accounting–Extrado,builders–PatcoConstructionsPtyLtd,gym–ifeelgood,banking–HeritageBank,hairstylist–SmartStyleHairStudio,golfcarts–GolfCarParts&Repairs.SoIwouldencouragetosupportoursponsorswhosupportus.GrantsAsmentioned,2017wastheyearthatthegrantgatesopenedaftermanyyearsoftryingandnosuccess.Grantswerereceivedfrom:WomeninSportforgovernancetrainingoftheBoard($3,000 ex gst), The Brisbane City Council Building Better Communities Grant for therenovationofBathrooms($100,000exgst),theQueenslandStateGovernmentGetoutgetactive grant for the running of beginner golf programs for women ($26,685ex gst); TheCommunityBenefitGamblingFundforcarpetandroofrepair($10,000incGST); TheLordMayors Initiative for the Brisbane Invitational ($2,750), and The Clubbies – Best StalwartawardedtoNoelMcCabeforhisservicetotheclubovermanyyearsbeingrecognisedwithgolfequipmentforjuniorstothevalueof$1,000.The bathroom project has commenced with the men’s locker room which included theunplannedremovalofanasbestosceiling.Thankfully,theceilingwasremoved,otherwisewewould not have detected thewhite ants nest thatwould have eventually resulted in theceilingcomingdowninthelongrun!TheupgradeswillhelptoshowcaseMcLeodasavibrant,modern facility - not just to our membership, but to our corporate and social guests.Currently,theclubhousetoiletsareundergoingtheirupgradeandtheWestlaketoiletswillfollowinFebruary2018.Manyof thesegrants require in-kindcontributionsofMembers timetoachieve theClubscompulsorycontribution,andwhilesomemembershavesteppedforwardtohelp,weneedmoreofyoutodosoin2018.DevelopmentTheBoardhasbeenpursuingthepossibilityofarealestatefuturedevelopmentbutinvestigationhasrevealed that, under the covenants of the Club’s original deed,we are unable to pursue this anyfurtheratthistime.TheClubis,however,lookingataSportandRecreationdevelopmentthatwouldmeettherulesofourdeed,McLeodtoretainownershipofthenewfacilityandtherebygainrevenuefromleasingofthepremisesandfoodandbeveragesalestothepatronsofthisfacility.Thiswillbepursuedfurtherin2018.

GovernanceTheBoardhasspentconsiderabletimein2017addressingthegovernanceoftheClub–AConstitutionwasfinallyratifiedandalsoamendedearlyintheyear,togetherwithanewsetofBy-Laws.TermsofReferencesforallCommitteesoftheclubhavebeencompletedandallbutoneisnowadopted.Theriskauditoftheclubhasbeencompleted.RiskAsaresultofafailedBrisbaneCityCouncilkitcheninspectionlatelastyear,whichfaultedtheflooring,thekitchenwasfullyrenovatedinJanuary2017withnewvinylflooringtomakeitcomplianttocouncilregulations.Atthesametime,wealsoupgradedtheplumbing,electricsandrepaintingofthekitchenspaces.Itseemsthat2017wasalsotheyearof“breakandenter”with4separateincidencesoccurring.Asaresult,wearenowhavingtoseriouslyconsiderastagedinstallationofsecuritycamerasacrossthewhole club precinct. We also have a formalised Emergency Response Plan for use by staff andmembers.CultureThecultureofourClubhasalwaysbeenrepresentedinthegenerosityofthemembership.Thisisnotonlyobviousinthedonationofprizesforcompetitions,butalsointhecontinuedparticipationandsupportofourkeyfundraisingactivities.TheClub,throughitsvariousactivities,raisedanddonated$17,885tocharityinthe2016-17year.I personally wish to thank the many volunteers of the club who give their time on our manycommittees,oncourse,inthegardens,archivingourhistory-infactthereareveryfewareasoftheclubwherevolunteersdonothavesomeinfluence.Thankyouall.TomyfellowBoardmembers,Ithankyouforyouruntiringworkinhelpingtoguidetheclubforward.To allow tax deductible donations to McLeod, we have registered with the Australian SportsFoundation.PotentialdonorscandonatetoaspecificprogramorinitiativefortheClubwiththeaddedbenefitofareceiptfortaxpurposes.Theseincludescholarships,clubhouseinitiativesandoncourseactivities.Visitwww.asf.org.auformoredetails.McLeodStaffManyoftheimprovementsandinnovationsyouareseeingtodayatMcLeodaretheresultofthegreateffortsandtheideasofourstaff.SeanKennedy,asmanager,hasleadhisteamwell:meetingbudgetexpectations,generatingsponsors,increasinggamesplayedandfuturefunctions.Pleasejoinmeincongratulating Sean and his staff. Their hard work is paying off, yourMembership is seeing thebenefits on the course and in the clubhouse. I look forward toworkingwith you all in 2018 andachievingevenmoregreatthings.CarolynMcilvennyPresident

CAPTAIN’SREPORT2017Wellanothergreatyearofgolfbehinduswithsomegreatresultsandmanyagoodnight.OurcoursehasbeenabsolutelyamazingthankstoCraigandhisteam.Wearealsoveryluckytohavesuchwonderfulmemberswhovolunteertheirtimetohelpwiththesmoothrunningofourclub.ThankstomyMatchCommitteefortheircontinuedsupportduringtheyear.Theydidalltheworkbehindthesceneswhichensuredthatourcompetitionsransmoothly.AspecialthanksgoestomyViceCaptainSueRutherfordforallherhelpbothwithPennantsandthevariousothertasksthatconfrontedus.ThehelpandsupportIgotfromMichelleandherteamintheClub Shopwas invaluable and it was a pleasure toworkwith the Fellow’s Captain PeterGlassop. Itwouldbe remissofmenot to thankWayneGaneandDonPinel for theirhelpincallingthefieldonWednesdays.Onceagain,wehostedtheBrisbaneInvitationalwhichwasagreatsuccess. Itwasagreatreliefthatthebadweatherthathadplaguedthetwopreviousyearsdidnotdisturbplaythisyear.Wewillbehosting thiseventagain inMarch2018. InSeptember,wealsohadthehonourofhostingtheMegNunnSalver,whichisaQueenslandeventthatisonlyplayedinBrisbaneonceevery7years. LyndalPlantandIhadthehonourofplayingonthewinningBrisbaneDistrictteam.Thiseventcouldnothavehappenedwithoutthesupportofourmanymemberswhogaveuptheirtimetobespottersandalsocaddyfortheotherdistricts.

Wehad 8 Pennant Teams this year and itwas great to able to field our very own Juniorteam.Therewasnogreatsuccessstoriesand,ourbestresultscamefromourDiv.1FridayandDiv.1weekendteams,whobothfinishedup3rd.

Ourbeginnersprogram,runbySakLee,wasahugetriumph.KudostoourManagerSeanKennedywhohadthebrightideaofusingsocialmediatomarketdirectlytothepeopleinourlocalareaandsecuringagrantforitsfutureimplementation.

All Honour Board events were successfully completed and we saw some very closecompetition. Congratulations to all our winners. The results of these events follow myreport.

Thanks toall theMcLeodmembers for their continued support and Iwishyou successfulgolfingin2018-ourJubileeYear.

ColletteByrneCaptain

ClubChampions2017

ClubChampion:ColletteByrneRunner–Up:RositaVanKuilenbergDivision2:ChampionWendyMcLeanDivision3:ChampionMonicaO'NeillSeniorChampion:LyndalPlantJuniorChampion:GemmaRigbyFoursomesChampions:ColletteByrne&JillThurgoodMixedFoursomesChampions:ColletteByrne&GrahamEllisOtherWinners:Premier’sTrophy:DebbieReevesAnniversaryDay:NicolaRigbyEuniceColemanMemorialRosebowlWednesday:RuthElderSaturday:RositaVanKuilenbergRaeLivingstonShield:McLeodMastersChampion:GemmaRigbyMargaretHarrisMemorial:AnnandIanMcBrydeMargeRudderDay:Debbie&DavidReevesStellaMcMinn:ColleenMiles&AnneCullenPatron'sDay:Female:LeonieNewton.Male:DavidReevesRayLivingstonShield:VickiDe’Ath,JaneHolt,DebDaly&DiGriceHelenStaceyMemorial:Matthew&ChristineLong

Scotsmen’sDay:-JackO'Keefe&MeganBallMedalofMedals:Wednesday-WendyMcLeanSaturday-MelissaKeatingHoles-In-One:AnnetteGoodall6th

GREENSREPORT2017

It is with pride that I present the 2016-2017 Greens Report to theMembers ofMcLeodCountryGolfClub.Craig Clarke, our Course Superintendent, and his team of Randall Holland Smith, TrevorConnelly,TroyNuttridgeandJimRobbinshavecertainlydeliveredgreatresultsthroughouttheyear.Allareasofthecoursehaveimprovedandwillcontinuetoimproveinthecomingyears.Ongoingirrigationrepairshavebeenanissuethroughouttheyearwithmanyextramanhoursrequired to keep the system working. Bunkers on the 10th and 13th have had a totalreconstruction,whilethe5th,6th,8thand12thwereconvertedtograssfacebunkers.Allthisworkwascarriedoutinhouse,exceptfortheexcavationwork.Pathwayshavealsobeenanongoingproject.The3rdhasbeencompleted,1stextendedtobeyond the low-lying area and 13th also extended. Bridge work on numerous holes hasundergonerepairsandanewwalkingbridgefromthe11thgreentothe12thFellowsTeehasbeenconstructed.TheVets have kindly provided newwoodendirectional signs that have been strategicallypositioned around the course. These signs enable visiting Golfers easiermovement fromGreentoTeeandaddtotheirenjoymentofplayingourcourse.ContinuationoftheWeedEradicationPlanforthefairwaysisprogressing.The10thand11tharecurrentlyunderway.Somefairwayshavebeennarrowedwhicheconomicallybenefitsthebudget.DistancemarkershavebeenrepositionedallowingforeasierrecognitionbyMembersandVisitors.AforwardTeeonthe15thhasbeenconstructedandtherebuildof1stBlue,15th,18thBlueandRedTeeshasalsobeenundertaken.WeedcontrolofallTeeblocksisanongoingproject.The15thWeirrequiredurgentexcavationworktopreventleakageafterCycloneDebbieinMarch2017.Furtherworkisstillrequiredtocompletethisproject.Treetrimming,mulchingof mounds, clearing of hazard areas and maintenance around the waterways has allcontributedtotheoverallpresentationandenjoymentofplayingatMcLeod.The CourseMaster Plan/McLeodCourseQualityDevelopment Plan documents the abovework.However,thisdocumentisrevisedannuallywithupdatesandmodificationsmade,ifconsiderednecessary.ThankyoutoCraig(CourseSuperintendent),TimDeakinandtheothermembersofthisWorkingPartyfortheirongoingcontribution.TheGardenLadiescontinuetosupporttheClubwiththeirtirelesswork.ThankyouagaintoJanO’KeefeandJudyMcIntoshandtheirbandofhelpers for thewonderfulworktheydoaroundtheclubhouse,weddingareaandgardensonthecourse.ThankyoutotheSandmenandtotheMcLeodSons.Theycanbeseenworkingaroundtheclubhouse,maintenanceof‘Seventh Heaven’, helping the Golf Shopwith buggymaintenance, helping Craig and the

GreenStaffintheconstructionofthenewpathways,treetrimming,brushcutting,machinerymaintenance,younameittheycandoit.Thankyouallsomuch,aswithoutthissupportourclubwouldcertainlynotbewhereitistoday.Thank you to the members of the Greens Committee, fellow Board Members and SeanKennedy (Manager) for their support throughout the year. Craig Clarke (CourseSuperintendent)deservesthebiggest thankyou.Hisworkethichasbeenfaultlessandhisattentiontodetailinallfieldsofhisworkistobecommended.TheStaffunderhiscontrolhaveprovidedgreatsupporttohimandtheimprovementsthatwehavewitnessedthisyearhaveallcomewithinbudget.It has been an extremely satisfying year and we can confidently go into 2018 with theexpectations thatour course standardswill continue to improveand that thiswill haveapositiveresultonourbottomlinewithmorevisitorsplayingourcourse.JulieMorrisonGreensDirector

JubileeCommittee Thepurposeofthiscommitteeistoplanandcoordinateevents,projectsandmemorabiliatocelebratethe50thanniversaryoftheClub.InDecember1965,agroupof“businessgirls”mettomakeiteasiertogetagameofgolfonaSaturday.Acommitteewasformedandthespillingofblood,sweatandtearsbegan.Landsetasideforagolfcourseinanewhousingestatewasinspectedand,withtheassistanceoftheCEOof thedevelopers,waspurchased for$1on18thSeptember1968. Agolf coursedesignerwascommissioned.Aloanof$40,000wasapprovedontheconditionthattheladiesraise$8,000tobeusedbeforetheloanwasdrawn.FundraisingeventswereheldalloverBrisbane.Thelandwasclearedandadambuilt.Initially,only9holesandaclubhousewerebuilt. The first shot was played on 20th September 1969. 2018 will be a year of muchreminiscingbyourfoundingmemberswhohaveseentheirgoalsachieved.Theireffortsandachievementswillbeacknowledgedthroughouttheyear.ProjectsundertakensofarhavebeentoorganisearecordedoralhistorybyHildaReid,oneofourfounders.AfollowuparticleinWoman’sDayfiftyyearsaftertheoriginalwaspublishedandisnowdisplayedintheclubhouse.Wehavedesigneda50thanniversarylogowhichwillbeonallclubcorrespondenceduringtheyear.Acommemorativebagtagwillbegiventoallmembersandballmarkersandtowelsdisplayingthelogowillalsobeavailableforpurchase.JubileesnippetshavebeenappearingintheweeklynewsandwillcontinuethroughouttheyearuntilSeptember2018.Adisplayofhistoricalimages,photographsandpublicationswasdisplayedintheclubhouseonFoundersDaythisyearandwillcontinuetobeupdatedanddisplayedthroughouttheyear.Pleasetakethetimetolookatthememorabilia.AJubileeavenueoftreesisplannedandtheCouncilhavedonatedfiftytreesforthisproject,whicharecurrentlybeingcaredforandnurturedbythegardeningladies.ThiswillbeofficiallyopenedinSeptember2018.Torenewinterestintheclub’shistory,wearecurrentlyworkingonareprintof“DreamtoReality”,whichitisanticipatedwillbemadeavailableelectronicallytoallmembers.It is an exciting year for our Club, with the climax being a Jubilee Dinner Dance on 22September2018.JoinusthroughouttheyeartoenjoyyourClub,andproudlyshareinthehistorythathasmadeandcontinuestomakeMcLeodunique.SandraHallJubileeChair

FELLOWSPRESIDENT’SREPORT2017 IwouldliketothankallthemembersoftheFellowsCommitteefortheircontributiontotherunningoftheFellowsgolf:Captain–PeterGlassop,Treasurer–NoelMcCabe,Secretary-IanMcGaw,andCommitteemembersStanMann,PeterMarsland,andStuartCanham.Asmanyofyouknow,earlyintheNewYear,ItookapositioninSydney.Withthetravel,IwasunabletodevoteasmuchtimetothepositionofFellowsPresidentas Iwouldhave liked.All theFellowsCommitteememberssteppedupandwerewillingtodoafewextrajobstohelpmewiththejobofPresident.Atthetimeofnominations,IwasstilltravellingtoandfromSydneyandhadtomakethedecisionnottostandagain.IhaveenjoyedmyyearasFellowsPresident.Itisalwaysnicetohearfrommembersthattheyhaveneverseenthecourseinbettershapethanitisnow.AbigthankyougoestoCraigClarkeandhisstaffforalltheirhardwork.Also,athankyoutoallthevolunteersinalltheirvariousforms.Withoutthededicationandhardworkfromthesevolunteers,theclubwouldbeamuchdifferentplace.ThegolfshopcontinuestodevelopandisbeingrunverywellbyMichelleandherstaff.Duringthetransition,therewerealotofnegativecomments,buttheshopseemstobegoingwell.Ihopeallcontinuetosupportthegolfshopandthestaff.ItisalwaysapleasuretocomeintotheclubhouseandbewelllookedafterbySeanandthestaff.Fromtheadministrationtothebarstaffandthekitchenstaff,everyoneisalwaysmorethanhappytohelpallmembersandguests.TheFellows,MastersandJuniorsPennantsteamsgavetheirbestinDivision3,butjustfellshortintheattempttostayupinDivision3.Wewillwishthemallthebestfornextyear.Iwouldliketothankallthemanysponsorsofourcompetitionsthroughtheyear.Withoutthegenerousprizesfromthesponsors,ourfinancialsituationwouldbemuchdifferent.Asalways,pleasesupportthebusinessesthatsupportyourclub.MycongratulationsgotoalltheClubChampionshipwinners.TheFellowswinnerswere:AGrade AdamVerityBGrade MarkLenskeCGrade GraemeBehrSenior JohnProwseJunior CurtisElderingFoursomes AdamDe’Ath&MitchellSibbaldThankstoeveryoneattheclub,whomakebeingamemberofMcLeodapleasure.Allthebestandgoodgolfingfortheyeartocome.ScottMalsonFellowsPresident

TREASURER’SREPORT20172016/17wastheyearofgrantsuccess,followingtheapprovaloftheConstitutionattheAGMlastyear.TheapprovaloftheConstitutionalsomarkedachangeinthewayinwhichreportingisalsodoneinrelationtothecommittees’financialposition–aconsolidationoftheresultsfromtheFellows,SeniorLadiesandVetshasnowbeenincorporatedintothefigurestotrulyreflectthetotalgreenfeeschargedbytheClubandthecostofprizespaidoutbythevariouscommittees.Thisyear,wealsohaveafull12monthstradinghistoryintheGolfShop.The results for the year show a net profit of $36,157 after allowing for depreciation of$115,751. This is a turnaround of $100,446 compared to the previous financial year. Theresultsareslightlydistortedduetothedisclosureofthegrantsreceivedduringthereportingperiod,whichhadnotbeenspentinfullasattheendoftheyear.Asat30thSeptember2017,ofthe$138,776ingrantsreceived,therewas$56,438unspent. Themajorityofthegrantfunding was for the bathroom upgrades, and given this work is an improvement to theclubhousefacilities,fundsspentonthebathroomshavebeencapitalizedasimprovements.Ifwetakeoutthegrantsimpactoutoftheresults,theclubmadeaprofitfortheyearof$29,421beforedepreciation.This isaslight improvementon thepreviousyear, ifyouremovetheadditionalrevenuecollectedfromthepowerpolelevylastyearof$27,273.Whilstwehadsomesuccesswithgrantsduringtheyear,therewereothersthatwerenotreceivedasfollows:

• Getplayingplacesandspacesrd6-McLeodIrrigation/Drainage/WaterwayUpgradeProjectcost:$131,138Grantapplication:$104,910Clubcontributionneeded:$16,450(assetfinance)+$2578cash

• SaferQueenslandcommunitygrantsforSecurityCamerasProjectcost$12,450GrantApplication:$10,000Nocompulsoryclubcontribution.

Othergrantapplicationsarestillpendingatthetimeofthisreport:• GetGoingclubsround6-Thepurchaseandinstallationofarangeballpicker,aball

washingmachineanddrivingrangetargets.ProjectCost:$8,154GrantApplication:$7500Nocompulsoryclubcontribution.

• BuildingBettercommunitiesgrant2017-18–Finalise the renovationofbathroomsandrepairoftheroof.ProjectCost:$114,835GrantApplication:$86,126Clubcontributionneeded:$28,709

NetproceedsfromFridaynightrafflesarecurrentlyearmarkedforourPointofsalesystemupgrade. This investment was approximately $33,000. This year, we generated another$18,000fromtheraffles.Soaspredictedinlastyear’sreport,thenetrevenuestreamfromtheserafflescannowbedivertedtoanotherproject.Therevenuefrom“specialraffles”heldduringthepasttwoyears,coupledwithadonationof$700fromtheVets,enabledthenewchairs for the clubhouse to be purchased during the year. Pokermachine profits will beearmarkedtoassistwiththepurchaseofnewequipmentrequired,movingforward.Seanandhis teamhavebeenworking tirelessly topromote theClub in asmanyways aspossible to the local community and businesses. This work has seen a 50% growth in

sponsorshipthisyear.Coupledwithpromotingcorporategolf,socialgolfandcoursesignage,opportunitiestopromotetheuseoftheWestlakeRoomforcorporateeventsisalsoontheagenda. And with the continued support from Tony Holland Funerals, more functionsbookingsfortheWestlakeRoomareoccurring.TheBarandKitchendivisionsshowedadefiniteimprovementthisyearincomparisontolastyear’sresults.Thiswaslargelyduetotheconsistentfoodofferingsputinplacebyourformerchef,PeterO’Sullivan.Functionrevenuecertainlyincreasedandthetypeoffunctionsonofferweremodified to cater tomarket expectations. An increase in functions also lead to anincreaseinbarrevenue.Moreefficiencieswerealsocreatedinthekitchenduringtheyearasaresultofhavingimprovedworkpractices,resultinginlessfoodwastage.DespitetheclosureofthekitcheninJanuarywhilsttherenovationtookplaceandnewflooringlaid, increasedstaffingcostsasaresultoftheadditionalfunctionstakingplace,anddisruptiontotradeasaresultofsevereweathereventsinNovember2016andMarch2017,bothdivisionshadmorethana50%improvementinthenetprofitpercentagefortheyear.Overall,agreatturnaroundfortheyear.Inrelationtomembership,therewascertainlysomeattritioninmembershipnumberstostarttheyear.Thiswaslargelyduetothespecial levyimposedthepreviousyearforthepowerpole replacement and an increase in subscriptions. Despite this, we clawed back ourmembershipnumbersduringtheyear,butsomeoptingforacheaperoptioninmembershiptyperatherthanfullmembership.Membershiprevenuewillalwaysbeanissueinthetoday’seconomicclimatewheretherearemanypressuresonfamilyfinancesandsocialcluboptionsallowingpeopletoplaydifferentcoursesforacheaperprice.AsCarolynhasalreadyalludedtoinherreport,thisisnotsustainableforClubstobowtothispressuretoreducefeesasallitdoesisundervaluemembershiptotheirClub.Wearenodifferent!ThechangesmadeintheGreensstafflastfinancialyearhaveresultedinadiverserangeofexperienceandqualificationsbeingatourdisposal,theevidenceofwhichcanbeenseeninthe condition of the course. It is very pleasing to hear at presentations each week howcomplimentaryourgolfersareabout“howgoodthecourselooks–probablythebestithasbeeninyears”.Despitebeingshortstaffedforabouthalftheyearduetolackofsuitablejobapplicants, Craig and his team have managed to undertake the various improvementsrequiredtobedoneonthecoursethroughouttheyearwithintheconstraintsofhisbudget.CongratulationsCraigforyourleadershipofyourteamforajobwelldone!AsJuliehasalreadyalludedtoherinherreport,pathwayupgradeswereundertaken(atacostof$18,691)sothatwecanattempttomakeMcLeodplayableinallweatherconditions.Thesecostshavebeencapitalizedasanimprovementtothecourseratherthanshowingthemasanexpense. Inaddition,workswereundertakenonthebridgesthisyearaswellastherevampingof thebunkersnear thegreenson the10th and13th– costs for theseprojectsamountedtoapprox.$20,000duringtheyear.Onceagain,thepathwayworkundertakenbytheMcLeodSonsthisyearwasinvaluableinthisregard,savingsusthousandsofdollarsinthisareaalone!AverybigsincereThankYou!ImustalsothanktheVetsandFellowsfortheirgenerosityinprovidingfundingforadditionalequipmentforuseontheCourseofover$9,000.ThisexcludestheVetscontributiontowards

theclubhousechairsof$700andalsoacontributionof$1,000 towards theMen’sLockerroomupgrade.TheFellowshavealso committed$1,000 towards theMen’s LockerRoomupgrade,butthatwasreceivedafteryearend.Thegolfshophasnowbeenoperatingforafull12monthsandsalesfortheyearexceededourexpectations.Ourgrossprofitachievedonstocklines,whichhavechangedasdemandrequired,variedduringtheyear,butaveragedapprox.45%fortheyear.Costsofhiringthebuggies, including additional ones for social clubs when required, together with themaintenancecostof servicing, is less than50%of the revenuebeingderived fromhireofthem.Themajorcostofanyretailestablishmentislabour.Theboardwasawareofthisfromthestart,butweneededtohaveagolfshoptoserviceourmembership,toprovideaccesstoagolfproforlessonsandclinics,andvisitinggolfers.Rememberthattheshopisopenmorethan12hoursaday,essentially7daysaweek.Thegrantreceivedtoassistwiththebeginnersclinicsof$26,685iseffectivelysubsidizingsomeofthewagescostsinthisdepartment.Wearecontinuingtotweakthegolfshopmodel,includingthestaffinglevelsrequired,asmarkettrendscontinuetochange.Therevenuefromsocialgolfandcorporatedaysisontheincrease,whichassistsinsubsidizingthegolfshopoperations.

Socialgolfrevenuealmostexceededtheincreasedbudgetfortheyear,withmostmonthsexceedingonaverage$15,000.TheonlytwosignificantdropswereinNovember2016(duetosevereweather)andMarch2017(duetoCycloneDebbie).Haditnotbeenforthesetwomonths,ourbudgetwouldhavebeenmetinthisregard.Weareatthemercyoftheweathergods!Atleastthisyear,theBrisbaneInvitationalhadadrytrack!TheMcLeodSonshaveonceagaindoneawonderful job this year, aswell asmaking thecourseandClubhouselookbetter,havesavedusvaluablefunds.ThankyousincerelyforyourcommitmenttotheClub.TotheGardenLadiesandSandmen,abigthankyouaswell.TothewonderfulstaffatMcLeod,thankyouforyourhardwork,despitethechallengeswefacedduringtheyear.IthinkwehaveagreatteamtoshowcasethisgreatClub.AswemoveintoourJubileeyear,thereismuchanticipationandexcitementbuildingaswestart to celebrate thismilestone in the club’s history. The success in gaining the grant toupgradethetoiletfacilitieswascertainlyagoodkickstarttomodernizingthelookandfeelof

$-

$5,000.00

$10,000.00

$15,000.00

$20,000.00

$25,000.00

$30,000.00

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

SocialGolf2016/17

2014/2015

2015/2016

2016/2017

theClub.Wewillbecontinuinginthisvainthroughouttheclubhousetoupgradethefacilitiesoverthenext12to24months,toencouragemoreuseoftheimprovedfacilitiesbyexternalgroups,thusbringingexternalsourcesofincometotheClub.WewouldalsoencourageyoutogetbehindthevariousactivitieswewillbeholdinginthecomingyearaspartoftheJubileecelebrations.In summingup, Iwould like to sincerely thankmy finance committee for their continuedsupport and advice during the year. A special thank you to Lisa Rogers, who has been aconstantformeintheofficeduringthelastfinancialyear.Shehascontinuedtodevelopandimproveoursystemsforalltofollowtoensureamoreaccuraterecordingandreportingofthe important financial information required tomakemy role as honorary treasurer lessstressful. To my fellow Board members, thanks for your understanding and supportthroughouttheyear.Toyou,ourClubmembers,thankyouforsupportingtheClub:fromplayinggolf,sponsorshipof events, attending Club functions and donating your time as a volunteer or committeemember.TheClublooksforwardtoyourcontinuedsupportin2018.JennySmithproposesthemotion:Thatthe2016/17FinancialStatementsascontainedintheAnnualReportbeaccepted.

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Principal Activities

McLEOD COUNTRY GOLF CLUB LIMITED

ABN 96 009 773 273

DIRECTORS’ REPORT

To achieve these objectives the company has adopted the following operational plans:

The principal activity of the McLeod Country Golf Club during the financial year is the operation of the Golf

Club and its facilities. There have been no significant changes in the nature of the company’s activities

during the year.

• Drive a welcoming and friendly culture from all participants in the golfing experience.

• Golf Shop is the face of McLeod.

• Continue to support and develop the surrounding environment and gardens around the clubhouse and

course.

• Work towards establishing an ‘all weather’ course using cart paths within 5 years.

• Review and implement Membership Development strategy

• Make maximum use of the course tee times by a:

• Develop the Brisbane Invitational / ALPG event

• Establish appropriate quality and availability of food

• Development of competition golf

• Development of Beginner golf

• Identify, develop and nurture corporate golf

• Tourism

• Establish clear communication channels on course availability

Increased asset utilization

Inclusive, welcoming culture.

Attract those new to golf.

The company's strategic directions are:

• Significant increase in social golf,

Improved golfing experience.

Successful event management.

Improved catering.

Develop and promote the "McLeod" brand.

Establish sound governance.

Find capital for club development.

• Implement the course management plan to achieve a Tier 2 status golf facility within 5 years

The company has complied with all Occupational Health and Safety, employment and Environmental

reviews conducted by external regulatory bodies.

• Develop management protocols and improve governance of committees.

• Develop and increase revenue from sponsorship

• Development committee to investigate the options for the sale, lease and development of McLeod

assets.

• Risk and Audit Committee full course audit.

2017 $ 36,157 2016 $ (64,289)

No legal proceedings have been entered into on behalf of the Club.

Likely Future Developments and Expected Results

The particular information required by Section 299(1)(e) of the Corporations Act 2001 has been omitted

from the report because the Directors believe it would result in unreasonable prejudice to the Company.


DIRECTORS’ REPORT

Events Subsequent to Balance Date

There were no significant events subsequent to balance date.

The Company has derived a net profit / (loss) of :

Significant Changes in State of Affairs

The Company now operates under a Constitution, passed by more than 75% majority at the Annual General

Meeting of 2016.

Review and Results of Operations

ABN 96 009 773 273

Events Subsequent to Balance Date

There were no significant events subsequent to balance date.

Legal Proceedings on Behalf of the Club

The Company has obtained insurance in respect of all directors and senior executives against all liabilities to

other persons that may arise from their positions as directors and executives, except where the liability arises

out of conduct involving a lack of good faith. A premium of $3,705.29 (2016: $2,695) has been paid for this

insurance.

Indemnity

The club has not, during the financial year, in respect of any person who is or has been an auditor of the

Club, indemnified or made any relevant agreement for indemnifying against a liability incurred, including

costs and expenses in successfully defending legal proceedings.

Dividends Paid or Recommended

The Club is a company limited by guarantee and pursuant to Section 179 of the Corporations Act 2001 and

the Club's Constitution, the payment of dividends are not permitted.

The profit in the current year is largely attributable to the disclosure of grant revenue which was

predominantly spent on items of a capital nature.

Carolyn McIlvenny

Jennifer Smith B.Bus, FCA, CPA

ABN 96 009 773 273

Auditor's Independence Declaration

The lead auditor's independence declaration for the year ended 30 September 2017 has been received and can

be found on page 6 of the financial report.


DIRECTORS’ REPORT

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

Dated this 16th day of November, 2017

Audit Opinion

a)

(i)

(ii)

b)

Basis of Accounting

RWM BARRY J. DINNEEN

Chartered Accountants

A Registered Company Auditor

23 Jeays Street

Bowen Hills Qld 4006

complying with Accounting Standards in Australia and the Corporations Regulations 2001;

other mandatory professional reporting requirements.

Without modifying our opinion, we draw attention to Note 1 of the financial report, which describes the basis

of accounting. The financial report has been prepared for the purpose of fulfilling the Directors' financial

reporting responsibilities under the Corporations Act 2001 . As a result, the financial report may not be

suitable for other purposes

The audit opinion expressed in this report has been formed on the above basis.

In our opinion, the Financial Report of McLeod Country Golf Club Limited is in accordance with:

the Corporations Act 2001 , including;

giving a true and fair view of the Company’s financial position as at 30th September, 2017,

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

INDEPENDENT AUDIT REPORT TO THE MEMBERS OF


Scope

We have audited the Financial Report of McLeod Country Golf Club Limited for the financial year ended

30th September, 2017. The Company's Directors are responsible for the preparation and presentation of the

Financial Report and the information it contains. We have conducted an independent audit of this Financial

Report in order to express an opinion on it to the members of the Company.

Our audit has been conducted in accordance with Australian Auditing standards to provide reasonable

assurance as to whether the Financial Report is free of material misstatement. Our procedures included

examination, on a test basis, of evidence supporting the amounts and other disclosures in the Financial

Report, and the evaluation of accounting policies and significant accounting estimates. These procedures

have been undertaken to form an opinion as to whether, in all material respects, the Financial Report is

presented fairly in accordance with Accounting Standards and other mandatory professional reporting

requirements and statutory requirements so as to present a view which is consistent with our understanding

of the Company's financial position, and the results of its operations and its cash flows.

Dated this 17th day of November 2017.

(i)

(ii)

RWM

Chartered Accountants

Barry J. Dinneen

A Registered Company Auditor

Bowen Hills Qld 4006

Dated this 17th day of November 2017.

23 Jeays Street

AUDITORS' INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE

CORPORATIONS ACT 2001

TO THE DIRECTORS OF McLEOD COUNTRY GOLF CLUB LTD

I declare that, to the best of my knowledge and belief, during the year ended 30 September, 2017, there have

been:

no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 , in

relation to the audit; and

no contraventions of any applicable code of professional conduct in relation to the audit.

Note 2017 2016

$ $

1,459,773 1,036,872

3 (505,574) (380,642)

954,199 656,230

4 1,420,185 1,369,044

138,776 -

(1,296,225) (1,033,926)

(115,751) (116,500)

(47,034) (48,402)

(1,001,704) (890,735)

(16,289) -

36,157 (64,289)

- -

36,157 (64,289)

- -

36,157 (64,289)

The accompanying notes form part of these financial statements

Other revenues from ordinary activities

Grants Received

Depreciation and amortisation expenses

Employee benefits expenses

Borrowing costs expense

Other expenses from ordinary activities

Grant Expenses

Profit/(Loss) before income tax


PROFIT AND LOSS STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER, 2017

Sales revenues

Cost of Goods Sold

Gross Profit

Income tax expense relating to ordinary activities

Items that will not be reclassified subsequently to profit

and loss

Total comprehensive income/(loss) for the year

Profit/(Loss) for the year

Other comprehensive income

Gain on revaluation of non-current assets

Note 2017 2016

$ $

Current Assets

Cash and cash equivalents 6 256,842 366,811

Trade and Other Receivables 10,718 9,219

Inventories 7 64,398 56,210

Other Current Assets 8 21,274 16,852

Total Current Assets 353,232 449,092

Non-Current Assets

Property, Plant and Equipment 9 6,529,738 6,528,241

Gaming Machine Entitlements 9(b) - -

Total Non-Current Assets 6,529,738 6,528,241

Total Assets 6,882,970 6,977,333

Current Liabilities

10 747,591 858,489

11 29,144 28,710

Short term provisions 12 61,165 53,545

Total Current Liabilities 837,900 940,744

Non-Current Liabilities

11 245,705 275,292

Other long-term Provisions 12 20,854 18,943

Total Non-Current Liabilities 266,559 294,235

Total Liabilities 1,104,459 1,234,979

Net Assets 5,778,511 5,742,354

Equity

5,513,989 5,513,989

264,522 228,365

Total Equity 5,778,511 5,742,354


The accompanying Notes form part of these financial statements

Interest Bearing Liabilities

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER, 2017

ASSETS

LIABILITIES

Trade and Other Payables

Interest Bearing Liabilities

Asset revaluation reserve

Retained Profits

Retained Asset Total

Profits Revaluation

Reserve

Opening balance 1 October 2016 228,365 5,513,989 5,742,354

Surplus/(Deficit) for the year 36,157 - 36,157

Other comprehensive income - - -

Closing balance 30 September 2017 264,522 5,513,989 5,778,511


Surplus/(Deficit) for the year (64,289) - (64,289)

Other comprehensive income - - -

Closing balance 30 September 2016 228,365 5,513,989 5,742,354


Surplus/(Deficit) for the year (171,089) - (171,089)

Other comprehensive Income - 684,944 684,944

Closing Balance 30 September 2015 292,654 5,513,989 5,806,643


STATEMENT OF CHANGES IN EQUITY



Note 2017 2016

$ $

Cash Flows from Operating Activities

2,939,220 2,646,388

(2,858,584) (2,442,857)

1,046 1,450

(45,250) (48,402)

- -

- -

Net Cash Provided by/(used in) operating activities 14(a) 36,432 156,579

- -

(117,248) (82,708)

- -

Net Cash Flows provided by/(used) Used in Investing Activities (117,248) (82,708)

Cash Flows from Financing Activities

- 27,650

(29,153) (21,817)

- 1,760

- -

Net Cash Flows Provided by / (Used in) Financing Activities (29,153) 7,593

Net changes in cash held (109,969) 81,464

Cash at Beginning of Financial Year 366,812 285,348

Cash at End of Financial Year 256,843 366,812

STATEMENT OF CASH FLOWS


Payment for other non-current assets

Proceeds from borrowings

Principal Hire Purchase repayments


Bond Held

Repayment of Borrowings

Interest received

Finance Costs and Other Costs of Finance Paid

Grant Expenses

Cash Flows from Investing Activities

Payment for Property, Plant and Equipment

Proceeds from Sale of Property, Plant & Equipment


Receipts from Customers/Members

Payments to supplies and employees

Grants Received

NOTE 1 - INTRODUCTION

Critical Accounting Estimates

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 have been prepared on an accrual 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.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


The financial statements cover McLeod Country Golf Club Ltd as an individual entity. McLeod Country

Golf Club Ltd is a company limited by guarantee, incorporated and domiciled in Australia.

These financial statements are special purpose financial statements that have been prepared in accordance

with Australian Accounting Standards - Reduced Disclosure Requirements of the Australian Accounting

Standards Board and the Corporations Act 2001. The company is a not-for-profit entity for financial

reporting purposes under Australian Accounting Standards.

The financial report is presented in Australian dollars and amounts are rounded to the nearest dollar.

The financial report was authorised for issue on 16th November, 2017, By the Directors.

These Financial Statements of the McLeod Country Golf Club are for the year ended 30 September, 2017.

McLeod Country Golf Club is an unlisted public company limited by guarantee and is domiciled and

incorporated in Australia.

The financial statements have been prepared under the historical cost convention, except for, where

applicable, the revaluation of certain classes of property, plant and equipment.

Historical Cost Convention

The preparation of the financial statements requires the use of certain critical accounting estimates. It also

requires management to exercise its judgement in the process of applying the entity's accounting policies.

The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates

are significant to the financial statements, are disclosed in Note 2(n).


NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

(a) Revenue

(b)

(c) Inventories



NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont)

Inventories are measured at the lower of cost and net realisable value. Inventories held for distribution

are measured at cost adjusted, when applicable, for any loss of service potential.


Grant revenue is recognised in the Statement of Profit and Loss and Other Comprehensive Income 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.

Donations and bequests are recognised as revenue when received.

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

Sale of goods revenue is recognised at the point of sale, which is where the customer has taken to have

received the goods and the risks and rewards are transferred to the customers. Amounts disclosed as

revenue are net of sales returns and trade discounts.

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

Current and non-current classification

Assets and liabilities are presented in the statement of financial position based on current and non-

current classification.

An asset is classified as current when: it is expected to be realised or intended to be sold or consumed in

normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within

12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being

exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets

are classified as non-current.

A liability is classified as current when: it is either expected to be settled in normal operating cycle; it is

held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting

period; or there is no unconditional right to defer the settlement of the liability for at least 12 months

after the reporting period. All other liabilities are classified as non-current.

(d) Property, Plant and Equipment




Class of Fixed Asset Depreciation Rate

Buildings 2.5% Prime Cost

Course Layout - at cost 2.5% - 20% Prime Cost


Depreciation

Land and buildings are shown at fair value, based on periodic, at least every 3 years, valuations by

external independent values, less subsequent depreciation and impairment for buildings. The valuations

are undertaken more frequently if there is a material change in the fair value relative to the carrying

amount. Any accumulated depreciation at the date of the revaluation is eliminated against the gross

carrying amount of the asset and the net amount is restated to the revalued amount of the asset. Increases

in the carrying amounts arising on revaluation of land and buildings are credited in other comprehensive

income through to the revaluation surplus reserve in equity. Any revaluation decrements are initially

taken in other comprehensive income through to the revaluation surplus reserve to the extent of any

previous revaluation surplus of the same asset. Thereafter the decrements are taken to profit and loss.

Plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical

cost includes expenditure that is directly attributable to the acquisition of the items.

Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant

and equipment (excluding land and carpark) over their useful lives as follows:

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

reporting period.

The carrying amount of each asset class is written down immediately to its recoverable amount if the

class's carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount of the

relevant assets. These gains or losses are included in the statement of profit and loss and Other

Comprehensive Income. When revalued assets are sold, amounts included in the revaluation surplus

relating to the asset are transferred to retained earnings.

Plant & Equipment - at cost 20% Prime Cost

(e) Leases

(f)



Lease payments for operating leases, where substantially all the risks and benefits remain with the

lessor, are charged as expenses on a straight-line basis over the term of the lease.

Fair Value Measurement

When an asset or liability, financial or non-financial, is measured at fair value for disclosure purposes,

the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in

an orderly transaction between market participants at the measurement date; and assumes that the

transaction will take place either; in the principal market; or in the absence of a principal market, in the

most advantageous market.

Fair value is measured using the assumptions that market participants would use when pricing the asset

or liability, assuming they act in their economic best interest. For non-financial assets, the fair value

measurement is based on its highest or best use. Valuation techniques that are appropriate in the

circumstances and for which sufficient data are available to measure fair value, are used, maximising the

use of relevant observable inputs and minimising the use of unobservable inputs.



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 entity, are classified as finance leases.

Finance leases are capitalised, recording an asset and a liability equal to the present value of the

minimum lease payments, including any guaranteed residual values.

Leased assets are depreciated on a straight-line basis over their estimated useful lives where it is likely

that the entity will obtain ownership of the asset. Lease payments are allocated between the reduction of

the lease liability and the lease interest expense for the period.

(g) Employee Benefits

(h) Cash and Cash Equivalents

(i) Goods and Services Tax (GST)

(j)

Other long-term employee benefits

The liability for annual leave and long service leave not expected to be settled within 12 months of the

reporting date are recognised in the non-current liabilities, provided there is an unconditional right to

defer settlement of the liability. The liability is measured as the present value of expected future

payments to be made in respect of services provided by employees up to the reporting date using the

projected unit credit method. Consideration is given to expected future wage and salary levels,

experience of employee departures and periods of service. Expected future payments are discounted

using market yields at the reporting date on national government bonds with terms to maturity and

curranty that match, as closely as possible, the estimated future cash outflows.


Superannuation expense

Contributions are made by the entity to an employee superannuation fund and are charged as expenses

when incurred.

Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term

highly liquid investments with original maturities of three months or less, that are readily convertible to

known amounts of cash and which are subject to an insignificant risk of changes in values.

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). In these circumstances the

GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. The net

amount of GST recoverable from, or payable to, the ATO is included as part of receivables or payables

in the Statement of Financial Position.

Income Tax

No provision for income tax has been realised as the entity is exempt from income tax under Div 50 of

the Income Tax Assessment Act 1997.




Short-term employee benefits

Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave

expected to be settled within 12 months of the reporting date are recognised in current liabilities in

respect of employees' services up to the reporting date and are measured at the amounts expected to be

paid when the liabilities are settled.

(k)

(l)

(m)

(n)

Provisions

When an entity applies an accounting policy retrospectively, makes a retrospective restatement or

reclassifies items in its financial statements, a statement of financial position as at the beginning of the

earliest comparative period must be disclosed.

Trade and Other Payables

Trade and other payables represent the liability outstanding at the end of the reporting period for goods

and services received by the company during the reporting period which remain unpaid. The balance is

recognised as a current liability with the amounts normally paid within 30 days of recognition of the

liability.

Adoption of new and revised accounting standards.

The club adopted all of the new, revised or amending Australian Accounting Standards and

Interpretations issued by the AASB applicable to its operations which became mandatory. Any new,

revised or amending Accounting Standards or Interpretation that are not yet mandatory have not been

early adopted.

The adoption of these Standards and Interpretations did not have a significant impact on the financial

performance or position of the Club.




Provisions are recognised when the entity has a present 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 recognised represent the best estimate of the amounts required to settle

the obligation at the end of the reporting period.

Comparative Figures

Where required by Accounting Standards, comparative figures have been adjusted to conform with

changes in presentation for the current financial year.


(o)

The Club carries its land and building at fair value with changes in the fair value recognised in

revaluation reserve. Independent valuations are obtained at least triennially at the end of each reporting

period. At 30th September, 2015, the directors updated their assessment of the fair value of each

property, taking into account the most recent valuations obtained from the independent valuers and

concluded that the company's asset values approximate their assessment of fair value.

As discussed in Note 2(g), the liability for employee benefits expected to be settled more than 12 months

from the reporting date are recognised and measured at the present value of the estimated future

cashflow to be made in respect of all employees at the reporting date. In determining the present value of

the liability, estimates of attrition rates and pay increases through promotion and inflation have been

taken into account.

The Club determines the estimated useful lives and related depreciation and amortisation charges for its

property, plant and equipment and finite life intangible assets. The useful lives could change

significantly as a result of technical innovations or some other event. The depreciation and amortisation

charge will increase where the useful lives are less than previously estimated lives, or technically

obsolete or non-strategic assets that have been abandoned or sold will be written off or written down.

Fair value measurement

Employee benefits provision

Critical accounting judgements, estimates and assumptions




The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the reported amounts in the financial statements. Management continually

evaluated its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and

expenses. Management bases its judgements, estimates and assumptions on historical experience and on

other various factors, including expectations of future events, management believes to be reasonable

under the circumstances. The resulting accounting judgements and estimates will seldom equal the

related actual results. The judgements, estimates and assumptions that have a significant risk of causing

a material adjustment to the carrying amounts of the assets and liabilities (refer to respective notes)

within the next financial period are discussed below.

Estimation of useful lives of assets


2017 2016

$ $

NOTE 3: PROFIT / (LOSS) FROM ORDINARY ACTIVITIES

45,477 43,191

1,557 5,211

47,034 48,402

10,000 11,000

Cost of Goods Sold

171,165 172,755

164,667 178,267

169,742 29,620

505,574 380,642

0 (597)

Bar Trading

Interest paid and payable to:

Other persons

Finance lease charges

Remuneration paid and payable by the Club to the Auditors for services

Auditing or Reviewing Accounts


NOTES TO THE FINANCIAL STATEMENTS


Profit / (Loss) from ordinary activities before income tax includes the

following items:

Charging and Expenses

Borrowing Costs

Kitchen Trading

Property, plant and equipment

Net Gain/(Loss) on Disposal of Non-Current Assets

Total Borrowing Costs

Auditors Remuneration

Golf Shop Trading

2017 2016

$ $

638,869 693,220

- -

547,509 461,120

26,453 25,974

71,958 97,772

1,284,789 1,278,086

58,560 47,204

1,046 1,450

30,880 13,485

44,910 28,819

135,396 90,958

1,420,185 1,369,044

0 0

The Club had a related party transaction with Patco Constructions Pty Ltd on a commercial basis and term to

the amount of $33,911 ex GST. The director whose partner owns this firm had no vote in terms of selection

of the suppliers from those who quoted.

No Director has received of become entitled to receive, during or since the end of the financial year, a benefit

because of a contract made by the Club or a related body corporate with the Director, a firm which the

Director is a member or a company which the Director is a member or a company in which the Director has a

substantial financial interest.

Total Revenues




NOTE 5 - RELATED PARTY TRANSACTIONS

Income paid or payable to all Directors of the Club by the Club and

any related parties

Directors' Remuneration

Operating Activities

Membership Subscriptions and levies

Nominations Fees

Competition Fees

Gaming Revenue

NOTE 4: REVENUE

Non-operating Activities

Rents

Interest

Sponsorship Received

Other Income

Donations Received

2017 2016

$ $

NOTE 6 - CASH AND CASH EQUIVALENTS

12,480 13,410

244,362 353,401

256,842 366,811

NOTE 7 - INVENTORIES

20,782 23,150

5,188 8,549

6,112 4,902

32,316 19,609

64,398 56,210

NOTE 8 - OTHER ASSETS

Prepayments 21,274 16,852

NOTE 9 - PROPERTY, PLANT AND EQUIPMENT

2,300,000 2,300,000

886,067 867,376

(386,544) (365,808)

2,799,523 2,801,568

3,156,013 3,116,207

(199,030) (119,418)

2,956,983 2,996,789

104,514 41,408

(28,267) (30,507)

76,247 10,901

Total Land and Buildings 5,832,753 5,809,258

Less accumulated depreciation




Buildings

Course buildings ad Independent Valuation

Total Freehold Land


Cash on hand

Cash at bank

Bar stock on hand

Course stock on hand

Kitchen stock on hand

Golf Shop stock on hand

At Independent Valuation

Freehold Land

Course Improvements - at valuation

Total Buildings

Clubhouse Improvements - at cost


2017 2016

$ $

NOTE 9 - PROPERTY, PLANT AND EQUIPMENT (cont'd)

378,724 353,093

(335,229) (323,928)

43,495 29,165

310,019 310,019

- -

310,019 310,019

594,834 594,834

(281,311) (261,374)

313,523 333,460

44,682 42,782

(23,064) (14,773)

21,618 28,009

Total Plant and Equipment 688,655 700,653

Leased Plant and Equipment

85,022 85,022

(76,692) (66,692)

8,330 18,330

Total Property, Plant and Equipment 6,529,738 6,528,241


Plant and Equipment

Carpark at Independent Valuation



Plant and equipment - at cost



Irrigation systems - at cost


Office Equipment - at cost


Capitalised course machinery lease assets

Less accumulated amortisation

NOTE 9 - PROPERTY, PLANT AND EQUIPMENT (cont'd)

(a) Movements in carrying amounts

Opening Revaluations Additions / Depreciation / Closing

Balance (Disposals) Amortisation Balance

2,801,568 - 18,691 (20,736) 2,799,523

2,996,789 - - (39,806) 2,956,983

10,901 - 69,556 (4,210) 76,247

310,019 - - - 310,019

333,460 - - (19,937) 313,523

29,165 - 27,101 (12,771) 43,495

28,009 - 1,900 (8,291) 21,618

18,330 - - (10,000) 8,330

6,528,241 - 117,248 (115,751) 6,529,738

,

Totals

Land and buildings are measured at fair value as indicated, less, where applicable, any accumulated

depreciation and impairment losses. At 30th September, 2015, the directors arranged for an updated market

valuation of the property to be obtained as it had been three years since the last external valuation. The

valuation suggests that the fair value of the land, based on developing the land for residential purposes, is

$23.2M. This method of assessment would assume that the land is no longer used as a golf course. This of

course is contrary to the business model in which the Golf Club operates. As the land has been rezoned some

years ago to recreational / sports use only, it is not appropriate to use this value. The directors have therefore

used the rateable value, based on the most recent rates notice issued from the Brisbane City Council, of

$2,300,000. The directors therefore believe the carrying amount correctly reflects the fair value at 30th

September, 2017.




Financed Equipment

Buildings

Clubhouse Improvements

Carpark

Irrigation Systems

Land & Improvements

Plant & Equipment

Office Equipment

a. Gaming machine entitlements

The club currently holds 8 gaming machine entitlements (2016: 8) at a fair value of $3,000 each. At 30

September 2017, a directors' valuation was performed based on observable market evidence from the

sale/purchase of entitlements in SE QLD, following the changes to regulations in July 2014.

2017 2016

$ $

NOTE 10 - PAYABLES

224,115 137,322

490,777 619,775

19,664 27,281

13,035 74,111

747,591 858,489

NOTE 11 - INTEREST BEARING LIABILITIES

Current

8,741 7,975

4,019 3,702

1,558 3,522

14,826 13,511

29,144 28,710

Non-Current

18,078 26,819

9,927 13,945

- 1,558

217,700 232,970

245,705 275,292

274,849 304,002

Utility Loan

Server Upgrade Loan

Total interest bearing liabilities

Lease Liability

Irrigation Upgrade Variable Rate Term Advance

Trade creditors

Members' subscriptions & club vouchers in advance

Prepaid Function deposits held

GST Payable




Utility Loan

Server Upgrade Loan

Lease Liability

Irrigation Upgrade Variable Rate Term Advance

Security for the Irrigation upgrade Variable Rate Term Advance is a First Registered Equitable Mortgage

over the whole of its asset(s) and undertaking(s) including uncalled capital Over Coy/business Assets, and a

First Registered Mortgage over Non Residential Real Property located at Gertrude McLeod Crescent, Mt

Ommaney QLD, 4074.

Note 2017 2016

$ $

NOTE 12 - PROVISIONS

Current

61,165 53,545

Non-Current

20,854 18,943

27 26

NOTE 13 - CAPITAL AND LEASING COMMITMENTS

Lease Commitments

Lease commitments that relate to items of plant and equipment payable

Not longer than 1 year 9,474 8,613

Longer than 1 year but not longer than 5 years 18,425 26,484

Longer than 5 years - -

Minimum lease payments 27,899 35,097

Less future finance charges (1,080) (303)

26,819 34,794

Current liability 8,741 7,975

Non-current liability 18,078 26,819

Total Lease Liability 26,819 34,794




Provision for Annual Leave

Provision for Long Service Leave

Number of employees at year end

A provision has been recognised for employee entitlements relating to long service leave. In calculating the

present value of future cash flows in respect of long service leave, the probability of long service leave being

taken in based on historical data. The measurement and recognition criteria relating to employee benefits

have been included in Note 2(g).

2017 2016

$ $

NOTE 13 - CAPITAL AND LEASING COMMITMENTS (cont'd)

145,473 145,473

94,218 239,691

- -

239,691 385,164

NOTE 14: CASH FLOW INFORMATION

(a)

12,480 13,410

244,362 353,401

256,842 366,811

(b)

36,157 (64,289)

- (81)

10,000 10,000

105,751 106,500

- 597

(1,499) 3,952

(4,422) 1,527

(8,188) (4,384)

(110,898) 76,100

9,531 26,657

Cash flows from operating activities 36,432 156,579

Operating Lease Commitments

Payable - minimum lease payments:

Not longer than 1 year



Non-cancellable operating leases contracted for but not capitalised in the

financial statements

Increase/(decrease) in trade creditors & accruals

Increase/(Decrease) in provisions

(Increase)/decrease in inventories

Changes in assets and liabilities, net of the effects of purchase and disposal

of subsidiaries

(Increase)/decrease in prepayments

Operating (deficit)/surplus after income tax


Reconciliation of Cash

Longer than 1 year but not longer than 5 years

Longer than 5 years

Depreciation of financed assets

Depreciation of plant and equipment

Net (Profit)/Loss on sale of property, plant & equipment

Cash at the end of the financial year as shown in the Statements of Cash Flows is reconciled to the related

items in the balance sheet as follows:

Cash on hand

Reconciliation of cash flow from operations with surplus from continuing operations after income tax

Non-cash flows operating result

Cash at bank

Total Operating Lease Commitments

(Increase)/decrease in trade and other receivables

Adjustment to Equity

2017 2016

$ $

NOTE 14: CASH FLOW INFORMATION (cont'd)

(c)

NOTE 15 - KEY MANAGEMENT PERSONNEL COMPENSATION

91,716 119,684

NOTE 16 - CONTINGENT LIABILITIES

NOTE 17 - GOING CONCERN




Credit Stand-by Arrangement and Loan Facilities

The Club has access to an overdraft facility of $200,000. This facility was utilised during the year to a

maximum of $139,074.79. However, during the months of June and September, 2017, due to the receipt

of annual subscriptions, the facility had been returned to a positive balance during the month. Surplus

funds had been transferred to the Cash management accounts. Interest rates on the overdraft facility are

variable.

The totals of remuneration paid to key management personnel (KMP)

of the company during the year are as follows:

Key management personnel compensation

The directors believe that there are no contingent liabilities at 30th September, 2017.

The financial statements have been prepared on a going concern basis, which contemplates the

realisation of assets and settlement of liabilities in the ordinary course of business. The Club returned a

profit of $36,157 in the current year, and loss of $64,289 at 30th September, 2016, the company had a

net asset deficiency of $484,668. These conditions give rise to a material uncertainty that may cast

significant doubt upon the company's ability to continue as a going concern. We note that the financial

position of the company is consistent with the prior year.

Note 2017 2016$ $

NOTE 18 - FINANCIAL RISK MANAGEMENT

256,842 366,811 10,718 9,219

267,560 376,030

734,556 784,37826,819 34,79415,504 22,727

232,526 246,481

1,009,405 1,088,380

Bank loans - fixed rateBank loans - variable rate

Total financial liabilities

The Company's financial instruments consist mainly of deposits with banks, local money market

instruments, short-term investments, accounts receivable and payable and leases.

The totals 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:

Cash and cash equivalents

Financial Assets

Trade Receivables

Total financial assets

Financial Liabilities

Trade and other payablesLease and HP liabilities




NOTE 19 - FAIR VALUE MEASUREMENT

Level 1:

Level 2:

Level 3:

Level 1 Level 2 Level 3 Total

$

2017

- 2,300,000 - 2,300,000

- - 1,154,644 1,154,644

- - 3,051,004 3,051,004

- 2,300,000 4,205,648 6,505,648

2016

- 2,300,000 - 2,300,000

- - 1,154,644 1,154,644

- - 3,051,004 3,051,004

- 2,300,000 4,205,648 6,505,648

NOTE 20 - COMPANY DETAILS

The registered office and principal place of business of the company is-

Carpark & course improvements

Land

Assets

Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can

access at the measurement date.


61 Gertrude McLeod Crescent

Mount Ommaney, QLD, 4074

Buildings

Total Assets

Assets

Land

Carpark & course improvements

Buildings

Total Assets

Fair value hierarchy

The following tables detail the Club's assets, measured or disclosed at fair value, using a three level

hierarchy, based on the lowest level of input that is significant to the entire fair value measurement,

being:

Unobservable inputs for the asset

Inputs other than quoted prices included within Level 1 that are observable for the asset or

liability, either directly or indirectly.



2017 2016

$ $

Bar Sales 460,534 443,184

Cost of Sales

Opening Stock (23,150) (25,900)

Purchases (168,797) (170,005)

Closing Stock 20,782 23,150

Cost of Goods Sold (171,165) (172,755)

Gross Profit from Bar Trading 289,369 270,429

Gross Profit % 62.8% 61.0%

Expenditure

Salaries and Related Expenses 193,614 199,294

Insurance 3,749 3,495

Light & Power 9,491 7,541

Rates 2,438 1,734

Repairs and Maintenance 2,725 1,112

Replacements and Consumables 907 762

Sundry Expenses 11,537 18,232

Total Expenditure 224,461 232,170

Bar Trading Net Profit 64,908 38,259

Net Profit Percentage 14.1% 8.6%


Bar



2017 2016

$ $

Income from Sales 571,556 521,240

Cost of Sales

Opening Stock (4,902) (9,917)

Purchases (165,877) (178,267)



Gross Profit from Catering Trading 406,889 342,973

71.2% 65.8%

Expenditure


Advertising and Function Expenses 18,820 1,646

Equipment Lease - 3,083

Gas and Electricity 12,626 15,151

Insurance 3,749 3,495

Laundry 20,873 22,796

Rates 2,438 1,734

Repairs and Replacements 7,698 8,606



Catering Trading Net Profit/(Loss) 53,943 32,164

Net Profit Percentage 9.4% 6.2%

Poker Machines

Income from Poker Machines 26,453 25,974

Expenditure

Poker Machine Monitoring Levy 9,200 9,461

Sundry Expenses 466 495

Total Expenses 9,666 9,956

Net Profit from Poker Machines 16,787 16,018

Net Profit % of sales 63.5% 61.7%

Catering / Kitchen




2017 2016

$ $

Income from Sales 312,666 72,448

Cost of Sales

Opening Stock (19,609) -

Purchases (182,449) (49,229)



Gross Profit from Trading 142,924 42,828

45.7% 59.1%

Other Income

Grant Subsidies for payroll costs 4,198 -

Motorised Cart Hire 115,017 36,102

262,139 78,930

Expenditure


Advertising and Promotions 2,853 10,223

Commission Expenses 32,536

Grant Expenses 4,198

Hire of Buggies and Equipment 49,526 15,459

Light & Power 5,325 159

Insurance 5,230 -

Printing, Stationery & Phone 3,573 1,951

Rates - -

Repairs and Replacements 4,278 4,453



Trading Net Profit/(Loss) (114,575) (21,943)




Golf Shop

2017 2016

$ $

44,910 28,819

329,112 256,541

6,795 7,873

218,397 204,579

1,046 1,450

72,248 103,187

22,977 47,399

16,110 11,525

42,450 35,679

30,880 13,485

22,107 -

138,776 -

15,881 6,398

566,621 590,033

1,528,310 1,306,968

COURSE EXPENDITURE

1,557 5,211

20,338 19,436

98,699 93,203

23,775 15,253

96,647 103,380

12,459 15,891

11,221 22,574

18,936 20,449

1,950 1,950

7,405 6,038

50,935 55,552

263,415 243,654

6,838 4,962

1,434 682

1,249 2,347

7,719 5,816

624,577 616,398



OTHER INCOME


Donations Received

Advertising and Sponsorships

Competition Fees

Fundraising and Members Functions

Green Fees (Social/Corp)

Interest

Members' Levies

Electricity

Total Course Expenses

Pro Am Income

Rent Received

Rent Received and registrations - Buggy Shed/Cages

Wages Subsidies Received

Fuel and Oil

Course Maintenance

Grants Received

Subscriptions

Total Other Income

Sundry Income

Depreciation

Salaries and Related Expenses

Motor Vehicle Expenses

Telephone

Uniforms and Protective Clothing

Other Course Expenses

Borrowing Costs

Rates and Levies

Repairs to Plant and Equipment

Insurance

Special Projects - Paths, Bridges

Subscriptions

Equipment Rental Lease

2017 2016

$ $

ADMINISTRATION EXPENDITURE

60,000 63,052

10,000 11,000

23,806 16,593

21,671 26,598

34,538 40,546

- 4,096

20,800 17,634

17,885 14,500

- 1,064

3,000 -

10,380 9,855

625 -

12,655 11,853

- 597

731 1,469

4,243 3,349

12,450 8,959

14,583 10,520

14,824 14,106

8,031 10,700

3,865 2,351

287,643 280,297

561,730 549,139

GOLF EXPENDITURE

73,314 27,159

9,721 10,299

- 18,001

- 4,729

- -

4,098 1,595

40,457 52,550

1,370 (44)

128,960 114,289


Auditor's Remuneration

Total Administration Expenses

Light and Power

Loss on disposal of assets

Postage

Borrowing Costs

Computer Expense

Depreciation

Donations made

Fringe benefits tax

Insurance

Commission Expense

Telephone

Training

Salaries and Related Expenses

Legal Fees

Printing and Stationery

Rates and Levies

Rental Office Equipment

Bank Charges

Grant Expenses

Trophies and Related Expenses

Fixture Books and Score Cards

Sundries

Advertising and Promotion



Total Golf Expenses

Professional Commission

Grant expenses

Pennants

Pro Am costs

Sundries

Commissions - Other

2017 2016

$ $

HOUSE EXPENDITURE

41,172 45,616

1,035 1,739

44,016 43,314

409 2,400

9,064 6,616

12,466 11,385

- -

17,325 16,140

46,069 11,993

13,567 10,141

9,091 -

3,735 1,670

197,949 151,014


Security

Grant expenses

Sundries

Total House Expenses

Equipment rental/hire

Insurance

Light and Power

Clubhouse Equipment

Rates and Levies

Repairs and Maintenance



Cleaning

Clubhouse Gardens Committee

Depreciation

1

a.

b.

2

This declaration is made in accordance with a resolution of the Board of Directors.

Dated this 16th day of November, 2017

DIRECTORS' DECLARATION

The Directors of the company declare that:

The financial statements and notes, are in accordance with the Corporations Act 2001 and:

comply with Accounting Standards-Reduced Disclosure Requirements and

give a true and fair view of the financial position of the company as at 30 September, 2017 and

of its performance for the year ended on that date.

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 payable.


Carolyn McIlvenny

Jennifer Smith

final mcleod golf club report v2 · annette goodall, ms julie della-pianna, mrs rita swan ,mrs...

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