DIRECTORS’ REPORT MEMBERSHIP

The company is a company limited by guarantee and is without share capital. The number of members as at 31 December 2022 and the comparison with last year is as follows:

In accordance with the Constitution of the company, every member of the company undertakes to contribute an amount limited to $2 per member in the event of the winding up of the company during the time that he or she is a member or within one year thereafter. The total liability in the event of winding up is $107,128 (2021: $94,462).

The table below shows a reconciliation of Blacktown Workers Club Limited earnings before interest, income tax, depreciation, amortisation, gains and impairment losses. This is referred to as EBITDA.

The objectives for which the company is established are to provide for members and for members’ guests a social and sporting Club with all the usual facilities of a Club, to look after the members in every possible way by providing service, comfort, entertainment, good food and a wide range of facilities to cater for every age group, and to give the community a significant proportion of the Club’s profits in support of various charities and community organisations.

Short term

• Maintain membership numbers and increase attendance at all premises

• Improve the experience of members using the Club facilities

• Improve profitability and efficiency of Club operations

• Increase cash reserves of the Club

• Maintain level of community support funding

Long term

• Diversify income streams

• Maintain financial stability of the Club

• Ensure facilities continue to cater for members’ needs

• Increase efficiency of energy consumption

• Research on members’ preferences for facilities and services

• Review promotional activity conducted in the Club

• Evaluate operational procedures and staff training

• Install monitoring equipment and solar energy generation plant

• Investigate alternatives for producing income from non-traditional sources

The principal activities of the company during the course of the financial year consisted of the conduct and promotion of licensed social and sporting Clubs, and the provision of sporting and recreation facilities to members of the company.

The principal activities of the company contributed to achieving the objectives by providing a stable base of operations. This ensured the financial position of the company remained stable and generated funds to meet the demands of the company and maintain high levels of service to members and guests.