Page 1

ANNUAL REPORT 2011–2012

A.C.N. 008 488 855


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

2


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Contents President’s Report 4 Directors’ Report 6 Auditor’s Independence Declaration 11 Concise Financial Report 12 Director’s Declaration 21 Auditor’s Report 22 Graphs 24 Board of Directors 26 Corporate Information 27


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

President’s Report In this our 40th anniversary year, the Board and I celebrate the foresight and vision of the Club’s founding directors and invite all our members to join in our celebrations. Providing excellence in member services remains our highest priority. Highlights this year included: • Stage 1 of refurbishment at the Yacht Club which has vastly improved its dining and lounge facilities. • Improving the kitchens at the Yacht Club. As a result of the increase in trade of the Yacht Club due to Stage 1, a major kitchen renovation will be completed at the end of September which will deliver greater variety of meals for the Yacht Club and the MV Southern Cross. • Refurbishing the kitchen of the Tuggeranong Club so as to improve the variety and throughput of the meals served from the bistro. • Updating the Club website and the manner in which we communicate to members. With such a large and diverse membership, we continually seek to improve the way we inform members of what is happening. For example, you can now follow us on Twitter (https://twitter.com/#!/CanberraSCC). • Providing some of the best entertainment in Canberra, with recent acts including Marina Prior at our recent 40th Anniversary Gala Dinner, Harry Manx and Young Talent Time.

4

I am also pleased to report, that your club continues to be an active supporter of our community through our annual Community Grants program as well as support to local supporting and social groups. In the financial year ended 30 June 2012, the club provided $1.5 million in direct cash support as well as in-kind support to approximately 90 organisations. In the near future, we are planning to: • Increase the parking at the Tuggeranong club, providing members easier and secure access to that venue. • Open a new Anytime Gym at Jamison. Since its earliest days, the Club continues to maintain good governance and excellence in financial management. Members may note that the presentation of our financial statements has changed. This is due to our increased ownership of the Health and Fitness business, recognising that the club is now the majority owner. This year the Southern Cross Club group has: • Delivered a modest surplus attributable to the Canberra Southern Cross Club members of $256,288 in a tough economic environment.


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

• Continued to reduce risk through a reduction of debt from $7.4m to $5.8m. • Diversified income away from gaming by increasing the Club’s investment in the Health & Fitness business. • Monitored financial results against financial benchmarks to ensure costs are controlled even though increases have been passed on by suppliers. • Renewed our 3 year risk management program and continued our comprehensive internal audit schedule. Once again at the Clubs ACT award night, your club was recognised for our excellence in Member Services (Large category). In a change to the way this event is run, our individual venues were entered, and I am pleased to report that one of our newest venues, the Jamison Club, was awarded Club of the Year in the Medium category as well as awards for Club Governance, Promotion of Sport, Community Assistance and Member Services in the Medium categories. Tuggeranong won the Best Restaurant (Peppercress) category and Chefs on Show, while at Woden we continue to have the best Functions and Events centre in Canberra as the winner of the Best Conference and Event Facility.

members support, we will overcome these challenges. We will focus on improving member services, improving our facilities, providing first class entertainment, maintaining strong support for the wider community with excellence in governance. I acknowledge the commitment and support of the Board and I also thank CEO Greg Mitchell, CFO Carol Sawyer, the executive management team as well as the talented and dedicated staff of all our clubs, without whom excellence in member services would be just a few words.

John Lewis President

Finance Committee – Simon Plummer (Chairperson) Planning Committee – Bob Lloyd (Chairperson) Member Services – Kim Marshall (Chairperson)

The club industry in general, and your club specifically continues to face a number of challenges. However, with

5


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Directors’ Report The directors of Canberra Southern Cross Club Limited submit herewith the annual financial report on the consolidated entity for the financial year ended 25 June 2012. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:

Directors The following persons were directors of Canberra Southern Cross Club Limited during the whole of the financial year and up to the date of this report, unless otherwise stated: J.J. Lewis K. Marshall R.W. Lloyd S.C. Plummer C. Behrens D.N. Grimmond M.B. Laughlin J.A. O’Loughlin J.J. Rice P.L. Rollings

Principal activities The consolidated entity’s activity in the course of the financial year was the operation of licensed club facilities. During the financial year there was no significant change in the nature of that activity. The entity’s short term objectives are: • To provide a diverse range of services and amenities to members and their guests based on Christian standards. • Providing for families through offering family friendly facilities. • To provide support to the community either financially, through donation of food or by providing facilities.

6

The entity’s long term objectives are: • To be the premier club in the Australian Capital Territory by: • Developing and reviewing a strategy for quality investments, services and memberships; • Maintaining innovative, diverse responsible cost effective services to members; • Exploring and developing opportunities for diversifying investments; • Fostering family values and Christian standards; • Being recognised for providing positive and constructive community support. To achieve these objectives, the entity has adopted the following strategies: The Club strives to attract and retain quality staff that are committed to working in the hospitality industry. The Club believes that retaining quality staff will assist with the success of the Club in both the short and long term. The Club is committed to providing excellent customer service. This is achieved through the Club’s Customer Service Charter and training staff in technical skills and knowledge. The Club prides itself on productive working relationships with its staff. Through the Club’s culture of Christian standards, the Club continues to meet consistently high levels of community support through the annual grants program together with a comprehensive sporting grants program. In addition to these major programs the Club is committed to the wider community by providing facilities and donated food, this is evidenced by ongoing support of various community groups. The Club has strong financial management and corporate governance which is managed through the Club’s business plan, key performance indicators, risk management plan and internal audit program. Monitoring of financial performance is reviewed on a monthly basis by executive management and Directors.


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Dividends In accordance with the constitution, the company is a company limited by guarantee to the extent of $2.00 per member, and accordingly no shares or debentures have been issued and no dividends have been recommended or paid since the start of the financial year.

Review of operations Operations comprised the running of licensed club facilities and the provision of member services.

Significant changes in the state of affairs

Likely developments and expected results of operations Disclosure of information regarding likely developments in the operations of the consolidated entity in future financial years and the expected results of those operations is likely to result in unreasonable prejudice to the consolidated entity. Accordingly, this information has not been disclosed in this report.

Environmental regulation The Club is not subject to any significant environmental regulations.

During the financial year there was no significant change in the state of affairs of the consolidated entity other than that referred to in the financial statements or notes thereto.

Matters subsequent to the end of the financial year There has not been any matter or circumstance that has arisen since the end of the financial year, that has significantly affected, or may significantly affect, the operations of the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity in future financial years.

7


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Information on directors Name J.J. Lewis BA (Acc) Grad Diploma IT, FAICD, CPA K. Marshall R.W. Lloyd S.C. Plummer C. Behrens B.Ec/LLB D.N. Grimmond OAM FREIA M.B. Laughlin BA J.A. O’Loughlin AFSAE J.J. Rice B Econ. P.L. Rollings

Special Responsibilities President

Years Service 9

Occupation Company Manager

Senior Vice President Vice President Vice President Director Director Director Director Director Director

9 16 3 6 11 19 36 31 21

Public Servant Retired Manager Senior Executive Lawyer Real Estate Agent Public Servant Executive Director Retired Retired

Company secretary The company secretary is Greg Mitchell. Greg is also the Chief Executive Officer of Canberra Southern Cross Club.

8


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Meetings of directors The following table sets out the number of directors’ meetings (including meetings of committees of directors) held during the financial year and the number of meetings attended by each director (while they were a director or committee member). Board of Directors Meetings

Financial Management Committee

Directors

A

B

A

B

A

B

A

B

C. Behrens D.N. Grimmond M.B. Laughlin J.J. Lewis R.W. Lloyd K. Marshall J.A. O’Loughlin S.C. Plummer J.J. Rice P.L. Rollings

12 12 12 12 12 12 12 12 12 12

12 11 12 12 10 11 12 10 11 10

12 ‑ 12 4 ‑ ‑ 12 12 2 8

10 ‑ 12 4 ‑ ‑ 12 12 2 6

12 12 12 ‑ ‑ 12 ‑ 3 8 ‑

10 7 11 ‑ ‑ 10 ‑ 3 6 ‑

‑ 12 ‑ 1 12 ‑ 12 ‑ 8 12

‑ 10 ‑ 1 9 ‑ 7 ‑ 7 11

Member Services Committee

Planning and Governance Committee

A = Number of meetings held during the time the director held office or was a member of the committee during the year B = Number of meetings attended In all cases of absences, directors were absent on club business, on leave or absent due to work commitments. In all instances leave of absence was sought and approved.

Indemnification of officers During the financial year, the company paid a premium in respect of a contract insuring the directors of the company (as named above), the company secretary, and all executive officers of the company and of any related body corporate against a liability incurred as such a director, secretary or executive officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. The consolidated entity has not otherwise, during or since the financial year, indemnified or agreed to indemnify an officer or auditor of the company or of any related body corporate against a liability incurred as such an officer or auditor.

Proceedings on behalf of the company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the company, or to intervene in any proceedings to which the company is a party, for the purpose of taking responsibility on behalf of the company for all or part of those proceedings. No proceedings have been brought or intervened in on behalf of the company with leave of the Court under section 237 of the Corporations Act 2001.

9


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Auditor’s Independence Declaration A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 11.

Signed in accordance with a resolution of the directors made pursuant to Section 298(2) of the Corporations Act 2001.

J.J. Lewis President

S.C. Plummer Vice President

Canberra, ACT 3 September 2012

10


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

11


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Concise Financial Report 2011-2012 Consolidated statement of comprehensive income for the year ended 25 June 2012 Notes 2

Revenue from continuing operations Administration expenses Finance costs Marketing expenses Occupancy expenses Operating lease expenses Show expenses Other expenses Share of net profit of associates and joint venture partnership accounted for using the equity method Profit before income tax Income tax expense Profit from continuing operations Profit for the year Other comprehensive income Other comprehensive income on consolidation Total comprehensive income for the year Profit is attributable to: Owners of Canberra Southern Cross Club Limited Non‑controlling interests Total comprehensive income for the year is attributable to: Owners of Canberra Southern Cross Club Limited Non‑controlling interests

2012 $ 38,292,423 (26,455,006) (636,691) (1,372,958) (8,360,196) (323,349) (398,362) (395,642)

2011 $ 34,474,713 (22,761,436) (587,418) (1,347,482) (7,479,348) (427,365) (551,305) (521,507)

350,219

18,643 817,495

(40,460) 309,759

817,495

309,759

817,495

(1,443,280) (1,133,521)

817,495

256,288 53,471 309,759

817,495 817,495

(1,186,992) 53,471 (1,133,521)

817,495 817,495

The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

12


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Consolidated balance sheet as at 25 June 2012 Notes

2012 $

2011 $

5,619,999 446,858 481,592 395,791 6,944,240

5,580,289 784,955 464,012 368,051 7,197,307

35,000 47,758,955 506,713 48,300,668

1,153,977 35,000 47,284,671 506,713 48,980,361

55,244,908

56,177,668

3,569,543 868,721 14,687 1,268,600 902,817 6,624,368

2,878,361 2,074,920 839,918 559,904 6,353,103

5,535,744 43,367 5,579,111

5,356,424 370,524 5,726,948

Total liabilities

12,203,479

12,080,051

Net assets

43,041,429

44,097,617

42,921,798 119,631

44,097,617 -

43,041,429

44,097,617

ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other financial assets Total current assets Non‑current assets Investments accounted for using the equity method Other financial assets Property, plant and equipment Goodwill Total non‑current assets Total assets LIABILITIES Current liabilities Trade and other payables Borrowings Current tax liabilities Provisions Other Total current liabilities Non‑current liabilities Borrowings Provisions Total non‑current liabilities

EQUITY Retained earnings Non‑controlling interests Total equity

3

4

The above consolidated balance sheet should be read in conjunction with the accompanying notes.

13


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Consolidated statement of changes in equity for the year ended 25 June 2012 Retained earnings $ Balance at 29 June 2010 Profit for the year as reported in the 2011 financial statements Balance at 27 June 2011

43,280,122

Non‑controlling interests $ -

817,495 44,097,617

-

817,495 44,097,617

Balance at 28 June 2011

44,097,617

66,160

44,163,777

256,288

53,471

309,759

(1,443,280) 11,173 42,921,798

119,631

(1,443,280) 11,173 43,041,429

Profit for the year as reported in the 2012 financial statements Other comprehensive income as reported in the 2012 financial statements Adjustment to equity on consolidation Balance at 25 June 2012

Total equity $ 43,280,122

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

14


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Consolidated statement of cash flows for the year ended 25 June 2012 Notes Cash flows from operating activities Receipts from customers Payments to suppliers and employees Interest and other costs of finance paid Income taxes paid Net cash inflow (outflow) from operating activities

2012 $

2011 $

56,018,689 (47,897,313) (636,691) (25,773) 7,458,912

53,061,298 (45,500,843) (587,418) 6,973,037

Cash flows from investing activities Interest received Cash on acquisition Payment for investment in associate (Payments for) / proceeds from sale of property, plant and equipment Net cash (outflow) inflow from investing activities

81,741 81,821 (432,500) (5,486,720)

109,862 (4,161,073)

(5,755,658)

(4,051,211)

Cash flows from financing activities Repayment of borrowings Finance lease payments Net cash (outflow) inflow from financing activities

(1,624,200) (39,344) (1,663,544)

(1,964,000) (13,284) (1,977,284)

39,710 5,580,289 5,619,999

944,542 4,635,747 5,580,289

Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the financial year Cash and cash equivalents at end of year

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

15


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Notes to the consolidated financial statements 1 Summary of significant accounting policies The concise financial report is an extract from the full financial report for the year ended 25 June 2012. The concise financial report has been prepared in accordance with Accounting Standard AASB 1039: Concise Financial Reports and the Corporations Act 2001. The financial statements, specific disclosures and other information included in the concise financial report are derived from, and are consistent with, the full financial report of Canberra Southern Cross Club Limited and its subsidiaries. The concise financial report cannot be expected to provide as detailed an understanding of the financial performance, financial position and financing and investing activities of Canberra Southern Cross Club and its subsidiaries as the full financial report. A copy of the full financial report and auditor’s report will be sent to any member, free of charge, upon request. The presentation currency used in this concise financial report is Australian dollars.

2 Revenue 2012 $

2011 $

Revenue from operations consisted of the following items: Gaming revenue CSCC gaming Yamba gaming Yacht gaming Tuggeranong gaming Jamison gaming Turner gaming Kaleen gaming Total gaming revenue

13,140,991 170,723 7,955,331 3,953,119 322,223 418,196 25,960,583

12,674,931 86,001 230,042 8,245,777 3,876,393 215,518 497,928 25,826,590

Revenue Revenue from sale of goods Rental revenue Interest revenue Membership income Bowling income Members entertainment income Other Total revenue

16,987,118 657,287 81,741 4,821,426 286,095 1,865,390 24,699,057

17,208,126 637,895 109,862 404,565 2,587 483,261 2,180,228 21,026,524

(5,699,390) (6,667,827) (12,367,217)

(5,654,058) (6,724,343) (12,378,401)

38,292,423

34,474,713

Cost of sales Gaming Other sales Total cost of sales Total revenue from ordinary activities

16


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

2 Revenue (continued) (a) Significant expense items Finance costs Interest ‑ other entities Interest ‑ finance leases Bad debts written off Depreciation and amortisation of non‑current assets: Buildings Property, plant and equipment Leased assets Operating lease rental expenses: Minimum lease payments Employee benefits Defined contribution plans Termination benefits Other employee benefits

2012 $

2011 $

552,831 83,860

582,771 4,647

5,906

16,363

2,089,872 4,258,888 222,902

2,201,310 3,854,181 14,365

323,349

427,365

1,183,594 23,478 13,412,311

1,045,100 12,428 11,825,641

2012 $ 1,268,600 1,268,600

2011 $ 839,918 839,918

2012 $ 43,367 43,367

2011 $ 370,524 370,524

3 Current liabilities – Provisions Employee benefits Total

4 Non‑current liabilities – Provisions Employee benefits Total

17


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

5 Additional company information Every member undertakes to contribute to the assets of the company in the event of and for the purposes of the winding up of the company, an amount not exceeding $2. There were 84,084 members at 25 June 2012 (2011: 85,322 members). 2012 Total members Membership classes Ordinary Religious Country Contributing Life Members Honorary Life Members Total

79,712 529 3,146 672 25 84,084

Canberra Southern Cross Club Limited is a company limited by guarantee, incorporated and domiciled in Australia. Its registered office and principal place of business is: Canberra Southern Cross Club Limited 92‑96 Corinna Street Woden ACT 2606

6 Remuneration under contractual agreements and consultancies Contractors or consultants who received or were due to receive $49,999 or more under contractual arrangements: A1 Premium Services

Leader Security Pty Ltd

ACTEWAGL Gas

OPC (Canberra) Pty Ltd

ACTEWAGL Retail

Premier Venue Entertainment

Ainsworth Game Technology

Reel Gaming Solutions

ALSCO Pty Ltd

Shuffle Master

Anittel Communications Pty Ltd

Sky Channel Pty Ltd

Aristocrat Leisure Industries

Smart Protection Group Pty Ltd

Aruze Gaming Australia Pty Ltd

Transact Capital Communication

Canberra North Bowling Club

Eastlake Football Club

Chubb Security Services

Thiess Services Pty Ltd

Epicurean Contract Caterers

Leading Edge Amusements

CCS Facilities Maintenance

RSM Bird Cameron

I.G.T (Australia) Pty Ltd

18


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

7 Key management personnel disclosures (a) Directors The following persons were directors of Canberra Southern Cross Club Limited during the financial year: (i) President J.J. Lewis BA (Acc) Grad Diploma IT, FAICD, CPA

(iv) Directors C. Behrens B.Ec/LLB

(ii) Senior Vice President K. Marshall

D.N. Grimmond OAM FREIA

M.B. Laughlin B Arts

(iii) Vice President R.W. Lloyd

J.A. O’Loughlin, AFSAE

J. Rice, B. Econ.

P.L. Rollings

S.C. Plummer

The specified executives of the company and the consolidated entity during the year were: G. Mitchell (Chief Executive Officer & Company Secretary from 27 May 2009) C. Sawyer (Chief Financial Officer) A. Cullen (Finance Manager)

(b) Key management personnel compensation The aggregate compensation of the key management personnel of the consolidated entity and the company, is set out below:

Short‑term employee benefits Other long‑term benefits Total

2012 $ 773,888 9,642 783,530

2011 $ 748,056 7,904 755,960

19


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

(c) Executives remuneration Section 74 of the Gaming Machine Act 2004 requires executive remuneration above the prescribed amount of $100,000 to be reported in the financial statements. During the year there were 7 executives, 6 of whom received total remuneration between $100,000 and $200,000, and 1 who received between $300,000 and $400,000 (2011: 8 executives). Other than the benefits already disclosed within this annual report, no member or employee of the Club has received or become entitled to receive a reportable benefit under section 53 of the Gaming Machine Act 2004. The Club throughout the past financial year has examined its requirements to publish and report on benefits in compliance with its statutory obligations under the Gaming Machine Act 2004.

(d) Directors remuneration Included within key management remuneration in note 7(b) above is remuneration paid or payable, or otherwise made available, in respect of the financial year, to all directors of the company, directly or indirectly, by the company or by any related party. This represents payments for out of pocket expenses as approved at the 2011 Annual General meeting in accordance with item 12.6 of the Club’s constitution.

Directors remuneration

2012 $ 118,742

2011 $ 118,761

8 Events occurring after the reporting period Early in the 2013 financial year the consolidated entity increased its share holding in Peil Fitness Services Pty Ltd ‑ Health and Fitness to 100% from 70%.

20


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Directors’ Declaration 25 June 2012 In the directors’ opinion: (a) the concise financial report of Canberra Southern Cross Club Limited and its subsidiaries for the year ended 25 June 2012 as set out on pages 13 – 21. (i) complies with AASB 1039: Concise Financial Reports; and (ii) is an extract from the full financial report for the year ended 25 June 2012 and has been derived from and is consistent with the full financial report of Canberra Southern Cross Club Limited and its subsidiaries. This declaration is made in accordance with a resolution of the directors.

J.J. Lewis President

S.C. Plummer Vice President

Canberra, ACT 3 September 2012

21


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

22


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

23


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Graphs Club Gaming Trading 2011/12 Club Gaming Trading 2011/12

Consolidated ExpensesExpenses from Ordinary Activities 2011/12 Consolidated from Ordinary

Activities 2011/12

13% 20%

22% 4% 40%

11% 26%

33%

8% 9%

4%

10%

Depreciation and amortisation - $6.3 Million

Gaming Machine Levy- $5.7 Million

Utilities (Electricity, Fuel, Telephone and Rates) - $1.8 Million

Wages and On Costs - $2.8 Million

Salaries & On Costs - $15.6 Million

Gaming Promotions - $2.1 Million

Gaming Promotions - $2.1 Million

Depreciation - $2.7 Million

Cost of Goods - $12.3 Million

Other Expenses - $2.2 Million

Other Expenses- $9.6 Million

Operating Surplus - $10.4 Million

ClubLiquor Liquor Trading 2011/12 Club Trading 2011/12

Consolidated Revenue Revenue from Ordinary Activities 2011/12 Consolidated from Ordinary

Activities 2011/12

1% 1%

7%

19%

22% 40%

7% 54%

15% 33% Gaming Revenue - $26.0 Million

Cost of Sales - $2.9 Million

Beverage Revenue - $7.2 Million

Depreciation Expense - $0.1 Million

Food Revenue - $10.7 Million

Wages and On Costs - $2.4 Million

Membership Income - $0.4 Million

Other Expenses - $0.5 Million

Members Entertainment Income - $0.4 Million

Operating Surplus - $1.4 Million

1%

Other Revenue - $3.2 Million

24

Note: The profit is attributable to the owners of the Canberra Southern Cross Club Limited and not the consolidated entity.


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Club Food Trading 2011/12 Club Food Trading 2011/12

& Recreation Trading 2011/12 SportSport & Recreation Trading 2011/12

6%

6%

7%

24%

2%

34% 29%

29%

51%

12%

Cost of Goods- $3.7 Million

Cost of Goods - $0.1 Million

Wages and On Costs - $5.6 Million

Wages and On Costs - $0.5 Million

Depreciation Expense - $0.2 Million

Depreciation - $0.2 Million

Other Expenses - $0.8 Million

Other Expenses - $0.5 Million

Operating Surplus - $0.7 Million

Operating Surplus - $0.4 Million

Club Club Members Entertainment Trading 2011/12 Members Entertainment

Trading 2011/12

10%

Distribution of Poker Dollar 2011/12 Distribution of Machine Poker Machine

Dollar 2011/12

5%

3%

10% -39%

14%

27%

92%

Entertainment Expenses- $0.4 Million

Return to player

Members Promotion Expenses - $0.4 Million

Direct Expenses including taxes and community expenses Club Hold

Other Expenses - $0.6 Million Wages and On Costs - $1.1 Million Operating Deficit - ($1.6 Million)

Note: The profit is attributable to the owners of the Canberra Southern Cross Club Limited and not the consolidated entity.

25


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Board of Directors

John Lewis

Kim Marshall

Bob Lloyd

Simon Plummer

Adrian O’Loughlin

President

Senior Vice President

Vice President

Jack Rice

David Grimmond

Mary Laughlin

Christopher Behrens

Paul Rollings

Director

Director

26

Director

Director

Director

Vice President

Director


Canberra Southern Cross Club Ltd Annual Report 2011 – 2012

Corporate Information Notice to Members Annual General Meeting Members are advised that the 41st Annual General Meeting (AGM) will be held in Corinna Room 2 at the Southern Cross Club Woden Wednesday, 10 October 2012, at 8.00pm

AGENDA 1. Apologies 2. Minutes of the 40th Annual General Meeting of 12 October 2011 3. Presentation of Annual Report 4. Presentation of Finance Reports and Balance Sheets 5. Auditor’s Report 6. Special Resolution to amend and modify clause 20 of the Club’s Constitution. The intention of the proposed resolution is to enable the Club to communicate with its Members via electronic means. The amendment of clause 20 will allow the Club to comply with its obligations under the Corporations Act 2001 in informing its members. The proposed resolution is as follows: ‘Pursuant, to s 136(2) of the Corporations Act, the amendment to clause 20.1 of the Club’s constitution tabled at the Annual General Meeting allowing members to be given notice via electronic means be approved and incorporated in the Club’s constitution from the close of this meeting.’ 7. Election of Directors 8. Election of Honorary Life Members 9. Appointment and remuneration of Auditors 10. Such other business brought forward in conformity with the Constitution: 11. Setting the Director’s honoraria for out of pocket expenses in accordance with Article 12.6 12. General Business As a Member you have the right to cast one vote at the Annual General Meeting, you have a right to appoint a proxy (whether or not a Member) to attend and vote on your behalf on resolutions other than the election of Directors. Proxy forms can be obtained by telephoning 6283 7210.

John Lewis President

Canberra Southern Cross Club

27


Woden 6283 7200 92-96 Corinna Street Phillip ACT 2606

Jamison 6251 2255 Cnr Catchpole & Bowman Streets Macquarie ACT 2614

Tuggeranong 6293 7200 Cnr Holwell & Pitman Streets Tuggeranong ACT 2900

Southern Cross Health Club 6283 7340 Irving Street Phillip ACT 2606

Kaleen 6241 2509 Georgina Crescent Kaleen ACT 2617

Southern Cross Sports Stadium – Woden 6293 2275 Irving Street Phillip ACT 2606

Turner 6247 7838 McCaughey Street Turner ACT 2612

Southern Cross Sports Stadium – Tuggeranong 6293 2275 Cnr Colishaw & Athllon Drive Tuggeranong ACT 2900

Yacht Club & Cruises 6273 1784 ‘Lotus Bay’ Mariner Place Yarralumla ACT 2600 Pitch & Putt 6232 5494 Irving Street Phillip ACT 2606


CSCC Annual Report 2011-2012  

Canberra Southern Cross Club Annual Report 2011-2012

Read more
Read more
Similar to
Popular now
Just for you