Minutes Of The Thirty Eighth Annual General Meeting 4 President’s Report 7 CMC Report for the Annual Report 9 GM Report 10
Membership Report 12 Planning and Facilities 14
Men’s Captain’s Report 16
Ladies’ Captain’s Report 18 Treasurer’s Repot 20 Financial Report 24
Major Trophy Winners 52 Board Of Directors 53 Office Bearers 54
Held at The LCC Clubhouse, at 7.00pm, Thursday 30th September 2021
In Attendance: As per Attendee Register
Apologies: As per attendee Register
David Whitby (DW) – President & Chair, opened the meeting and gave thanks for their attendance. The Notice of AGM was read and order of business explained.
DW called for a Motion to accept the Minutes of the 37th AGM as a true and correct version of the event.
Moved: John Alchin
Seconded: Gae Gaffney
Keith Burbridge (KB) questioned the right of access through the property by the residents of The Green. DW advised that there is a contractual obligation for residents of the second stage units to have access to their carpark through our own carpark. There is also a pedestrian right of way that skirts the boundary of our carpark and is identified in the documents held between LCC & The Green developer.
KB questioned the progress on the entry statement and gate. DW responded that the entry statement is in the hands of the developer, while the gate is being installed by ourselves and will meet the standards needed for emergency service vehicles.
DW called for a motion to accept the Minutes of the Extraordinary General Meeting held on 17th August 2021.
Greg Godwin – Treasurer – presented his report, highlighting significant issues, and asked for questions from the floor.
Notable items included:
• Operating surplus
• Clubhouse depreciation set at 2% over 50 years
• Positive cash balance
• Future fund committee establishment and the choice of investments
• Pleasing way clubhouse financials are monitored and addressed proactively
DW thanked outgoing office bearers for their contribution over the duration of their terms. DW then presented outgoing office bearers with a gift to show Theappreciation.GeneralManager then announced the results of the Office Bearer Elections.
President – David Whitby
Vice President – Chris Holmes
Ladies Captain – Sue Low Director – Allan Robotham
Director – Janet Bleakley
Motion
DW gave an explanation of the term value engineering’ and how that related to the costs of the clubhouse build. Some discussion on this terminology – this is the wording used by the engaged consultants during the build process. It was stated that the value engineering was largely completed prior to the construction beginning, and was necessary to bring the project to within our allowed budget. DW responded to some comments surrounding the exclusion of the covered walkway & cladding that was omitted. DW announced that these can be retrofitted when funds allow.
Moved: Rita Conway
Seconded: Alec Wilson Motion Carried
Presidents Report: As per the published report contained within the 2020/2021 Annual Report. DW asked for questions from the floor relating to the report. No questions received. DW asked for the report to be accepted.
Moved: Justin Davies
Seconded: John Alchin Report accepted
Dave Dunstan (DD) asked for clarification of the clubs investment policy. GG gave a synopsis of the investment types chosen and agreed that the investment policy be made freely available to all members.
DD questioned the delay in investing the money and felt we missed out on a significant boom. Trevor Beazley (TB) explained that the timing of investment was conservative which not only saw us miss a boom, but also miss the biggest market dip in many years. TB advised that the Future Fund is set to low risk as it is the property of all members, and the view is that we must be more conservative that an individual investor.
Gordon Bleakley asked why it is placed in low-risk items. GG responded that we are set to medium risk. TB added that the goal for the future fund is to remove any possible future member levies and high risk/return investments are not appropriate for these funds.
GG asked for a motion to approve the Finance Report
Moved: Roger Knight
Seconded: Bruce Skelton Motion carried
Ladies Vice Captain – Katrina Freeman
DW then advised that compliance & governance training for all directors has been scheduled for October 7. The first point of action for the new Board will be a review of the Strategic Plan.
GG proposed that the Club continues using Armada Accounting in the role of Club Auditor for another year.
Moved: Trevor Beazley
Seconded: Andrew Farmer Motion carried
Roger Knight (RK) questioned the change in bunker rakes during the year. Allan Robotham (Greens Director) explained the motive behind the change. The brittle nature of the past larger rakes which led to breakages a major factor in the change. The rakes cost a total of $1875 and were well below the allowed spend by the Course Superintendent, meaning the Board did not need input on this change. AR explained the process by which these rakes were selected. RK commended the Club on the bunker raking video that was produced. DW asked all members to take pride in their course and maintain it as best they can at all times. Tony Weatherill commented that the rakes were difficult to use when the sand is wet, and is slowing down play.
RK asked about signage around the clubhouse and course for the benefit of visitors. DW advised that this is still in the scope of works planned and will be attended to in the future. RK also asked that the unsightly entrance around the delivery door of the clubhouse be screened off to improve the appearance of the building. DW stated that this is in being planned and will be addresses in the coming months.
DD raised an issue with the varying depth of sand in the on-course bunkers. DD gave examples of some spots that are worse than others and could use repair. DD also questioned whether these areas meet the Course Standards & Goals. AR informed that the depth of bunker sand is a goal, and can be negotiable. 25mm of sand in the base of the bunkers is the preferred level, however the different wear patterns, age, overhead watering, shade & wind direction can all have an effect to determine the daily condition of the bunkers. They will rarely be perfect, but AR spoke on the work the greens crew do to manage these.
DD asked how often the ropes are moved on the teeing area of the driving range. DD asked that the ropes be moved more often to help reduce the wear of the area. DD though the ropes should be moved every Saturday to ensure premium practice conditions for the day.
Tony Harris questioned the status of the Village Membership. DW informed that we are still in discussion with the Council of Owners (COO) surrounding ongoing membership for Village residents at the completion of their initial 5 year term. LCC will continue to work with the COO to find a satisfactory outcome for all on this.
Alec Wilson (AW) asked about the amount of disabled parking and stated that he feels there is a need for more of these bays. DW outlined that the carpark was build to Australian Standard and has the required number of disabled bays. The required width of extra spaces is a
Amountconstraint.of
trailer spaces, and motorbike bays questioned. DW acknowledged that these may need reviewed in the future.
DD questioned the process of members applying for committee positions. DD stated he had applied for two committees and had not received any correspondence of the appointment of committees. DW apologized for this and informed that this was for the Chair of each committee to action.
Rob Steel asked about the process of painting a tree blue. The Board are happy to explore the process. RS was asked to provide guidelines to Board for this. DW confirmed that this had been spoken of at Board level previously and will return for more discussion if there was a need for it.
KB announced that he feels there is no transparency or respect at the Club. KB has an issue with the placement of the rubbish bins, signage surrounding the golf course, and the lack of historical items in the clubhouse. DW spoke on the bin placement and the functional reasons behind the placement. DW also advised that signage surrounding the course needs more than our own approval. Historical displays to be set by a sub committee that will be completed in the coming year.
DD asked why the golf day sponsored by The Green was held on a Wednesday and not a Saturday to allow him to participate. He also questioned whether a Thursday AM event would also be fair. DW explained that this was chosen specifically by the sponsor for reasons that suited their needs.
DW thanked all for their comments and feedback and spoke on how the Board will aim to satisfy the reasonable issues raised.
Being no further questions DW closed the meeting at 8.13pm
Dear Anothermembersyearhas quickly passed us by.
The Club continues to develop and grow, albeit it with some challenges over the year. By far the biggest impact which beset us was the continued impact of COVID-19. Be this, lock downs, disruption or delays to goods and services or staff shortages due to illness or difficulty in recruiting. The support of the members and commitment by our staff was greatly appreciated during these challenging times.
Financially, the Club continues to be in a sound position, achieving an operating surplus plus continuing to invest in some additional capital projects. The upgrade to the old toilet block has been completed, despite delays with trades. The construction of a ‘half-way house, café and bar to be completed over the coming months.
Our membership numbers continued to grow during the year. It was pleasing to see good increases and associated success with junior members. This will continue to be a major focus for the coming years.
Feedback from members, during the year, indicated there was an appetite to once again review current membership categories and playing rights. The resultant workshops will form the basis for any resultant changes which will be communicated to members in due course.
Once again, we hosted several Golf WA events including the State Senior’s Championships, WA Women’s Senior Championships, Secondary School’s Championships, GolfWA Ladies Pennants Finals, Men’s Senior 4BBB Final and the GMA GM & Super’s Golf Day. The positive feedback was most encouraging and due recognition for the hard work of so many members and staff.
My thanks to the Board members for the time and energy you have contributed over the year. There are four Board members and one office bearer who come to the end of their term this year, so a special thank you to Greg Godwin, Louis Carmine, Rob Danze, Mark Taylor
and Rob Steel. Good luck to those members who have nominated for positions this year.
My sincere thanks to Murray, Andrea, Rob and their staff who have worked extremely hard to run the Club for the members. The support of the numerous volunteers who have served on committees or worked around the course or clubhouse has been outstanding and is greatly
support of our members has once again delivered a very successful year both on and off the course. My thanks to each and every one of you.
Following the completion of the last of the major works in the 2020/ 21 fiscal year the focus this year has been on restoring the playing surface and surrounding areas to the standard that is expected of a quality private golf Achievementscourse. for the year have been:
COURSE:
• The completion of a review of the course by the Course Architect and the changes to hole 16 implemented.
• The completion of the practice putting green next to the 1st tee.
• The replacement of some of the perimeters invaded by foreign grasses.
• The making of several bunker walk-ins more accessible.
• Regular coring and scarifying of fairways.
• The completion of several reticulation extensions.
• The removal of exposed tree roots from fairways.
• The removal of the compaction at the edges of some fairways.
• The continual improvement of the health of the playing surface soil.
ENVIRONMENT:
• The continued revegetation of the property. 270 indigenous trees planted.
• The removal of a further 15 nonindigenous trees.
• The removal of the invasive Flinders Range wattles and Pampas Grass from the remnant bushland.
• The maintenance of water quality and the removal of foreign reeds in Lake Nerin.
• The start of the rehabilitation of the bushland at the right-hand side of the 10th fairway.
The work of our Superintendent, Rob Sorenson, and the greens staff has once again been outstanding. The Club is fortunate to have such a committed team that continually produces a quality playing surface.
A special mention goes to John Christmas who won the title of National Apprentice of the Year, an exceptional Ourachievement.volunteers have been terrific again this year. Merve Cashford and the Corrective Services people have been invaluable, and we should never underestimate the contribution they make to the presentation of the
Sandy Stephens, Alan Musson, and Rod Pratt have contributed on a weekly basis and are always available when called.
Also, thanks to the other volunteers who gave their time as needed to ensure the course was presented in the best condition possible.
And finally, the members of the CMC who worked extremely hard to develop the strategies to improve the playing surface and its surroundings.
Thank you to all that contributed during the year.
Allan GreensRobothamDirector.Lakelands members pulled together to raise $3500 for Bridgetown Golf Club following their catastrophic fire earlier in the year. This was the single biggest donation that I am aware of and something that shows what we are all about as a club. Every single person who put their hand in their pocket to raise this deserves credit for their community spirit.
While you may not have seen him around much in the past year, Aldrich Potgieter took out the biggest event in Amateur golf by winning The Amateur Championship. This is an achievement that cannot be spoken of highly enough. Aldrick won his way into the Open Championship, The Masters, & The US Open. Who would have though the tiny 10 year old who got his start at our Sunday morning PeeWee classes would have made it that far? Keep an eye out for him in the coming years. Aldrick, who has recently based himself in South Africa, is on the way to achieving something special which we will be watching
a long and successful amateur career Ryan Peake took the plunge and turned professional. While it’s early days, with some events still restricted following the difficulties of past years, Ryan is now able to do what he loves for a living for the foreseeable future and we wish him all the best.
We were all very thrilled with Jon Christmass and his achievement in winning both the State & National Apprentice of the Year. The doors that this opens for Jon will be a huge benefit to both himself, and us as a club. This has undoubtedly put Jon on the way to a successful and rewarding career that we look forward to watching
Aunfold.special mention goes out to our Junior Girls Pennant team who brought our first pennant flag back to Lakelands. This was the first year we had managed to
put together a full Lakelands only girls team – a goal of the club for many years – and to see them succeed in the way that they did was brilliant to watch and we couldn’t have been prouder. Well done to all involved.
The realities of the past 12 months: This year has seen some unpredictable cost increases that has seen us having to adapt as we go. The most noticable of these were in the grounds upkeep.
Some of the more significant cost increases:
• Fertilizers – 23.5%
• Pesticides & Chemicals – 37.6%
• Fuel – Unleaded 50%; Deisel 7.1%
These are all major items that were already a significant cost, and items that, at this point, we cannot do without.
Across the business we have now seen increases in insurance, wages, electricity, gas & a major increase in depreciation, due to the work we have done on the asset register. We now have a clearer picture of all of our costs which has allowed us to budget more accurately.
We are in the process of finding the best solution available to cut our energy costs. With the everincreasing costs in this area it is wise to look at the long term costs and our ability to cover all of our current and future needs. Our future needs will eventually extend to the on-course maintenance equipment as we move away from petrol/diesel, and over to fully electric machines. We have engaged an independent consultant to assist in this and expect this to be settled in the next quarter.
The past 12 months has been a challenge to control costs, and has seen us renegotiate and in some cases switch suppliers to keep things under control. My thanks go to Andrea for the way she negotiated our new brewery supply contract – without which we would
need to raise prices to near pub levels. The deal done also included a payment to set up a new bar in the old changerooms. This addition will improve the service to members who just want something small before play, or at the crossover of nines.
The current economic climate saw us have a significant slowdown in House revenue in the final quarter of the financial year. We understand not all areas of our business are profit centres and are there to add to the enjoyment of membership – that being said, while we may be a not for profit, we are also a ‘not for loss’ and will look at ways to optimise the usage of the clubhouse.
The position we found ourselves in is not unique to us and many sporting clubs and small businesses are facing similar operating challenges and financial concerns in the hospitality area. Recently the Australian Hotels Association announced a shortage of 15000 staff in the WA hospitality industry alone, and we have certainly noticed the difficulties in filling roles in the clubhouse. We are still rightly proud that we did not miss a single day of clubhouse service despite the enforced absences caused by Covid. My thanks go out to all the staff that went above and beyond for that to happen.
My thanks go out to all of the staff who have given their best for the members throughout the year to give the place the atmosphere that it has, and give a special mention to Sunny, Phill & Jon who all had new additions to their family this year – all the while putting the club and their roles higher than you could imagine during that
I’d like to acknowledge the support given to staff training by the Board & Club in general, that helps keep motivation high & staff engaged. The support is immensely appreciated and will have long term benefit to the
gentle reminder to you all to take care of yourself out on the course. The past year we lost a longterm member on the course to a heart attack. While it may seem a great place to go when the time comes, we’d prefer you take steps to look after yourself to continue playing golf here for many more years to come.
My thanx and appreciation goes to the members of this committee – Rita Conway, Ross Johnson, Linda Hardiman and Bruce Skelton.
Your insightfulness and commitment to the club and its members is yet to be fully realized, but it’s coming.
During the year we lost the services of Veronica Swanston. The information and details of our new members, category changes and resignations was provided to us via our General Manager Murray Paul, with great assistance from Jenny Willis and Sunny Patel.
At the end of the last financial year, we had 1016 golfers as well as 248 social members. During this financial year (2021/2022) we have had 90 new golfing members.
Some are returning golfers – welcome back – some are joining through The Green – your membership and contribution to the club is much appreciated and there are others who have joined for a number of reasons – including they like the course, the clubhouse and the general conviviality of Lakelands Country Club. We have also welcomed 14 new social members. It is pleasing to welcome all the new members – it is a reflection of the efforts by all committees and members in the rejuvenations of Lakelands.
At the end of June 2021 we had 64 members we have left the club. Whilst it always sad to lose members unfortunately it happens for reasons which are not attributed to anything other than age, finances and
Individualhealth.
reasons for leaving have been given and most have been spoken to by some Board Member. Their
personal reason for leaving is a private matter and will remain confidential. The number of resignations was less this year than expected (2018-112; 2019-88; 2020-60; 2021-80, 2022-64)
We must make a note regarding possible resignations at thew end of this financial year. Apart from the historical reasons, we have heard of discontent regarding the F&B levy, as well as proposed changes to playing rights, as well as membership categories.
It is a small number of members who will be leaving over this discontent – we wish them well in the golfing futures.
At June 2021 LCC had 36 members in these categories. At the end of the financial year this had increased to 66. This is a pleasing effort by those involved with the Juniors, particularly Rita Conway. Thanx.
Unfortunately, the members from Kingsway College (Golf Academy) have deleted their program. The junior committee is seeking other avenues to attract more sub and Juniors.
Over the last few years our club has, along with all other golfing clubs, suffered the effects of covid. Suffered may be the wrong word as we, as others, have experienced a surge in membership for the reasons previously espoused. Along with this LCC has undertaken the new clubhouse and major renovations to the course.
The clubhouse is finished. Changes to the old changerooms (refurbed toilets, new café) will be finished early next financial year. Most changes to the course have been finalised with tidying up proceeding. The good stuff.
We have a small disagreement occurring in Europe between Russia and Ukraine. Covid, although not yet finished, its immediate impact is diminishing. And we have rising inflation. All does, and will do in the future, impact Lakelands Country Club. Inflation will seriously affect our costs. The return to normality after Covid may affect our membership numbers – the free time that Covid enabled may disappear and members may decide that they don’t have the time for golf.
All these matters have a direct affect on Lakelands. We have instigated a series of forums (to be held) early in the next financial year to allow interested members to express there opinions as to how we should address all the major elements of our club – expenses, cost
recovery, course usage and profitability of our club. This is a continuation of the process that started a number of years ago – primarily the introduction of the Associations Act. Previous committees have addressed a number of scenarios - although discussed by the board over a number of years, due mainly to the disruption and uncertainty caused by Covid (and to a lesser extent the renovations) they have not been presented to the
Followingmembers.a number of forums (Strategy, Membership, Survey) to be held early in the next financial year, the next membership committee will present to the Board an assessment of membership categories, playing and booking rights based on the results obtained.
Another year of works completed around the clubhouse has seen the construction of the buggy parking area on the carpark side and also a screen wall installed around the kitchen delivery door. This was done to improve the look of the building as the area is always used to keep buggies parked after a game of golf. Planting of the garden beds around the clubhouse has also been done and is coming along well. The Buggy Room was completed to the old change room area. Damaged kerbing to the carpark was replaced with semimountable and has not been broken since. The removed kerbing along with correct stone was used to fill in the drainage ditch area and has improved the look of the
carpark area. Re development of the old changeroom toilets and the construction of a kiosk type bar to the courtyard area has been commenced. All work has been budgeted for and has all been completed within the cost allowance. Other works proposed for 2022 were discussed and either completed as deemed important or moved into 2023.
The final defecting of the building is near completion. Now with two winters gone through by the club, most issues have been addressed. There are a few points that need to be finalised and the club is still working with
the builder to finish these. Some issues will need to be completed when the weather is better and the club will pursue these final items to ensure that they are finished off and to an acceptable standard.
Discussions have been made to start to bring the existing building into line with the design of the new clubhouse. This would include the timber façade being done, paving improvements around the Proshop/Admin building area and changing lighting to more suited LED type. Painting of the ceilings and concrete columns would also be considered. All of these works would need to be budgeted for and started when board approval has been done. Paving around the on-course toilets will be done. We will be utilising the paving that was taken up from the ramp area for this project. Concrete kerbing will be installed to the garden areas around the 1st, 10th 12th tee boxes as well along the garden area behind the 18th green. This will improve the look of the gardens as well as define the playing areas. The access gate along the footpath leading from the housing estate will be commissioned soon and allow members to use the footpath instead of the road to gain access into the club property. We will be looking into installing gates to the bin storage area near the main entry. The club will start liaising with the developer of the housing estate to get the fence installed along the boundary between the carpark and their property. This will let LCC finish the garden bed area and drainage ditch.
Following up on a point raised at last year’s AGM regarding the parking spaces available for Accrod permits, the club looked at the requirement for the number of spaces needed for the carpark area. The club has installed the correct number of spaces and
discussion was also done regarding having priority parking for members who have these permits. Looking at the spaces available on any given day, it was decided that these were not necessary and the carpark is suited to our club membership as a whole.
Thankyou goes out to Rob Nadalini and Ian Templeton for their help on the P&F committee. Thankyou also to Dave Martin for always helping myself when I need a hand to complete whatever is required to be done. A lot of this is done on weekends and after hours, so thanks Dave (#2). Again, this help saves the club financially and also helps finish projects sooner as trades were hard to get due to the state of the building industry. Thanks to fellow board members and Murray for working as group to achieve any proposed work projects and also working to a positive direction
Rob PlanningDanzeand Facilities Director
This year the Match Committee’s prime focus has been the completion of matters we began in 2021, one of which was to streamline and simplify various By-Laws and policy documents. This process is nearing completion and the Committee’s attention will now turn to matters relating to ‘on course’ : the care and maintenance expected from each member with regard to the course itself and associated behaviour and dress standards.
On request from members the green fee for Wednesdays was increased to $10.00, which brought it into line with Saturday’s competition fee, this has meant a less reliance on member support or sponsoring yet still provided for a substantial prize breakdown
As this is my final year as Mens Captain I would like to take this opportunity to thank all the people that helped to make my term a happier, easier and less stressful one than might otherwise have been the case; The members of the Match Committee over the two years and all those that gave of their time when asked for assistance.
To my successor, all the best, and simply advise that you will be working with a team (staff and volunteers) dedicated to producing nothing but the best.
I would also like to give my thanks to Brett Gossage, Rita Conway & Roger Knight for their effort in organising this years Pennant competitions.
Louis Carmine Mens Captain
This year, 2022, has presented us all with both challenges and opportunities. Coming from the past 2 years of COVID the potential impact of the pandemic on our ladies has been foremost in our minds. However these concerns did not prevent us from having a full fixtures calendar with every week in the calendar having 1 or more (depending on the game) trophy donors. It is wonderful to have the ladies support our events in this way. As a result of increasing 9 hole player numbers, it was decided to set up a similar calendar with the hope of building our player numbers in this category. Ladies deciding to play in the 9 hole competitions come from ladies moving back to 9 holes from 18 holes due to health/mobility issues together with ladies who have completed the beginner golf clinics run by our professionals. This resulted in good numbers in the 9 hole playing group late in 2021. The transition of many of our new ladies from 9 to 18 holes at the beginning of the 2022 season has boosted our 18 hole numbers. Many of the ladies who completed the clinics in 2022 have now joined the club as 9 hole players.
We commenced the season with our Open day on Thursday 3rd March, with our extremely popular Purple/ Pink Day on the 17th of March. We collected a total of $677 from raffles sold and along with a donation from the Ladies Management Committee we topped up this amount to make a grand total of $800 for Breast Cancer Care WA!!
Trial membership offers for ladies undertaking the beginners’ clinics have resulted in ladies taking up 9 hole memberships. It is important that we forge more solid relationships between membership, LMC and the clinics so that we can play a central role in encouraging ladies to continue their golf journey at Lakelands. During 2022 new members have also included a number of ladies transferring from both metro and regional clubs to Lakelands. These ladies bring a wealth of experience to our club. We warmly welcome both experienced and our new golfers to our club and look forward to playing with them during the year.
This season has seen playing numbers of around 45 in the weekly 18 hole competitions. The numbers have fluctuated during the season as ladies succumbed to COVID. Although many ladies contracted the virus during May, June and July, most were mild cases and returned to golf within a couple of weeks. The heavy winter rainfall impacted on a number of competitions through the season – most of these were rescheduled but the weather reduced numbers on a number of days as carts were not allowed on the course.
Women’s Senior Pennants commenced on 2nd May for Division 4 and Division 6. This year we were fortunate to have caddies for most of our players and were able to field 2 teams. Great to see that the teams included ladies who had not played pennants previously. Our Division 4 team finished in 7th spot on the ladder. The Division 6 team joined The Vines at the bottom of the table –with our new players feeling more comfortable we look forward to the 2023 season.
There were 2 ladies’ teams who played in the Senior Pennants in 2022. The season was affected by the winter rains with many of the games cancelled resulting in halved matches. Both teams, at the time of writing are well down in the results table.
We hosted our Ladies Open Day on Tuesday, 21st June kindly sponsored by Simplicity Funerals. 64 Ladies were in attendance representing 15 different golf clubs. This was a fantastic opportunity to enjoy our course and our Clubhouse – the visitors were extremely complementary about the course.
Each year the ladies compete for a number of annual awards – these are presented at our Annual Presentation dinner. There were 50 ladies who entered the Annual Awards for 2022. Ladies compete for the Annual Awards across the playing season. This year we added an additional award to our list. Ladies record 4 pointers (or better) to compete for the most for the year.
Winners of our major events for 2022 were as follows:
• Summer Bowl – Rochelle Taylor
• Shirley Martin Brooch – Sue Whitby
• Founders Cup – Sue Fitzgerald
• Vets Trophy – Glenis Saxon
• Non-Vets Trophy – Laura Swithenbank
• Foursomes – Sookhee Takeshima & Di McPhail
• Jubilee Foursomes – Sue Fitzgerald & Rita Conway Congratulations to all our winners throughout the year.
During this year as Ladies’ Captain, I have been supported by a terrific committee, Katrina Freeman (Vice Captain), Alyson Bezuidenhout; Treasurer, Ros Hayes; Secretary and Committee members Linda Hardiman and Pep Main (as the 9 hole ladies representative).
These ladies have worked extremely hard, always with enthusiasm, friendship, and support throughout the year.
In addition, I wish to acknowledge the invaluable help and support of Jo Williams and Eileen Wetherill. These ladies have organised our raffles and find raising activities through the year.
Our year has been supported by many people. Trophy donors are a special part of our competition year. The ladies’ competition is well supported through the playing year – every week the ladies play for a supported prize. This is a very special situation that many, both within and outside our club would be envious of. On behalf of the LCC ladies would like to acknowledge and thank the
•following:Allthe lady members who donated a weekly trophy –your ongoing participation in supporting our weekly competitions is invaluable and greatly appreciated.
• Sue & Chris Holmes from Carine Travel Bug who sponsored our Monthly Medals for both 9 and 18 hole competitions in 2022
• Our General Manager – Murray Paul, and the Club’s President – David Whitby, for their sponsorship and support throughout the year
• Men’s Captain Louis Carmine and all members on the Club Committees I have attended over the year
• Rob Sorensen, and the Greens staff for all their hard work throughout the year making sure our course was in the best condition possible
• The office staff Jenny and Sunny– thanks for your administration assistance and support.
• Andrea Finneran and all the bar/kitchen staff who have looked after the ladies’ lunches and events throughout the year.
• Pro Shop team, Damian, Daniel and Simon for your guidance and help with the ladies’ competitions.
• Dot Knight for her patience and commitment to producing our annual photobook – these books capture the highlights, the characters and players through the year
A final thank you to all the ladies that turn up each week to play, and whose friendship and support is such an integral part of Lakelands CC. I look forward to continuing our great spirit through 2023.
Sue Ladies’LowCaptainThe 2022 financial year is the first relatively normal year since the opening of our new clubhouse. I am pleased to report our operations have generated a positive cash flow, our membership numbers have grown and the revenue generated by our new clubhouse continues to increase.
The most complex part of balancing the annual budget is the assumptions around membership levels.
Whilst total member numbers have increased significantly on the back of our social category, I am pleased the all important full member equivalent has also increased.
Whilst we have achieved an operating surplus of $124,411 we have not covered the full cost of our depreciation resulting in a loss after depreciation of $343,037. In contrast, in 2021 the depreciation cost was covered the Jobkeeper funds received from the government and our wages bill for the new clubhouse was not for a complete year. In the medium to longer term we will need to cover our depreciation costs in order to adequately provide for the replacement of our assets.
Both our bar and kitchen areas are showing the positive impact of a first class facility now being available for our members and their guests. We have budgeted conservatively for the year to June 2023 but hope to exceed budget and members and their guests continue to enjoy the great value offered.
Our finance team manages cash on a daily basis and forecasts cash flows forwards for 6 to 12 months. An investment committee has been setup and has formulated an investment policy for the Club’s Future Fund. The first funds were invested during the 2022 financial year. The following table represents our cash and investments:
Budgeted balances at 30 June 2022 3,726,740 535,327 634,438 1,627,500 0 929,475
Budgeted balances at 30 June 2022 3,794,960 644,785 716,235 1,505,000 0 928,940 Actual balances at 30 June 2022 3,377,846 647,230 1,216,235 812,358 41,897 660,126
Differences (417,114) 2,445 500,000 (692,642) 41,897 (268,814)
Reasons 1 2 3 4
1. Held off investing additional funds due to adverse market conditions
2. Adverse world markets along with a lesser amount invested
3. Retentions still held due to finalisation of defects not being completed
4. Suntower owes funds for future year Village memberships
I would like to thank the members of the Finance Committee (Bernie O’Shea, Matthew Nadalini, David Whitby, our General Manager Murray Paul, our Finance Officer Sunny and other staff involved in our finances (Andrea and Jenny) for their invaluable and ongoing work, support and assistance throughout the year.
Lakelands Country Club Incorporated
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 30 June 2022
For the year ended 30 June 2022
We, Greg Godwin (Honorary Treasurer) and David Whitby (President) being members of the Board of the Lakelands Country Club Incorporated, state that, to the best of our knowledge and belief, the accompanying Financial Statements of the Club present fairly the Club's state of affairs as at the 30th June 2022. We further state that the results of its operations and cash flows for the year ending 30th June 2022 are in accordance with the Australian Accounting Standards and the Associations Incorporation Act (2015) as described in Note 1 to the financial statements and the Club's Rules.
At the date of this statement, there are reasonable grounds to believe that the Lakelands Country Club Incorporated will be able to pay its debts as and when they fall due.
Revenue from continuing operations 2 3,811,0143,674,044
Expenses from continuing operations
Bar and catering cost of sales and overheads (609,645)(479,656)
Employee benefits expense (1,667,014)(1,445,109)
Grounds expenditure (476,355)(295,097) Membership, fundraising and match expenses (407,414)(384,240)
House expenditure (204,662)(145,483) Administration and other expenses (321,513)(328,422)
Total Expenses (3,686,603)(3,078,007)
Profit/(loss) from continuing operations 124,411596,037
Net Profit/(Loss) on disposal of property, plant and equipment 3 0(39,082) Interest received 1,803 23,074 Expenses related to land sale and capital projects 4 (753)(13,157) Depreciation expense 4 (468,498)(364,726)
Profit/(Loss) for the year (343,037)202,146 (343,037)202,146
Other Comprehensive Income 00 Items that will not be reclassified subsequently to profit or loss Gain/(loss) on revaluation of investments (187,642) 0
Total Other Comprehensive Income (187,642) 0
Total Comprehensive Income/(Loss) (530,679)202,146 (199,067)
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying Notes
Lakelands Country Club Incorporated Statement of Financial Position as at 30 June 2022
2022 2021 $$
Cash and cash equivalents 5 2,565,4883,372,591
Trade and other receivables 6 320,530184,914
Inventories 7 99,660104,886
Total current assets 2,985,6783,662,391
Non-current assets
Future Fund Investments 8 812,358 0 Property, plant and equipment 9 19,477,37818,754,25818,665,02018,754,258
Total assets 22,463,05622,416,649
Trade and other payables 10 267,427346,247
Fees in advance 11 890,692612,370
Borrowings 12 14,250 14,250
Provisions 13 257,555204,402
Total current liabilities 1,429,9241,177,269
Fees in advance 11 736,079411,648
Non-current liabilities 736,079411,648
Total liabilities 2,166,0031,588,917
Net assets 20,297,05320,827,732
EQUITY Revaluation Reserves 14 8,246,3798,434,021
Retained profits 12,050,67412,393,711
Total equity 20,297,05320,827,732 0 (0)
The above statement of financial position should be read in conjunction with the accompanying notes.
Lakelands Country Club Incorporated
Statement of Changes in Equity
For the year ended 30 June 2022
RevaluationReserve-Land InvestmentsRevaluationReserve- RetainedProfits
Balance at 30 June 2020 8,434,021 012,191,56520,625,586
Profit/(loss) for the year 0 0202,146202,146 Balance at 30 June 2021 8,434,021 012,393,71120,827,732
Profit/(loss) for the year 0 0(343,037)(343,037) Unrealised gains/(losses) on investments 0(187,642) 0(187,642)
Balance at 30 June 2022
Cash flows from operating activities
Lakelands Country Club Incorporated Statement of Cash Flows
For the year ended 30 June 2022
Receipts from customers (inclusive of GST) 4,278,1513,734,351
Payments to suppliers and employees (inclusive of GST) (3,707,044)(3,601,602)
Net cash provided by operating activities 18 571,107132,749
Cash flows from investing activites
Payments for property, plant and equipment (379,260)(3,276,295)
Proceeds from sale of property, plant and equipment 0 83,182 Payment for purchase of future fund investments (1,000,000) 0 Expenses related to land sale and capital projects (753)(13,157)
Interest received 1,803 23,074
Net cash ouflow from investing activities (1,378,210)(3,183,196)
Cash flows from financing activities
Repayment of debentures 0 (1,000)
Net cash outflow used in financing activities 0 (1,000)
Net increase/(decrease) in cash and cash equivalents (807,103)(3,051,447)
Cash and cash equivalents at the beginning of the financial year 3,372,5916,424,038
Cash and cash equivalents at the end of the financial year 2,565,4883,372,591 2,565,4883,372,591
The above statement of cash flows should be read in conjunction with the accompanying notes. (0) 0
The principal accounting policies adopted in the preparation of the financial report are set out below. These policies have been consistently applied to all the years presented.
These financial statements are special purpose financial statements prepared in order to satisfy the financial reporting requirements of the Associations Incorporation Act (2015). The Board has determined that the association is not a reporting entity.
These financial statements cover Lakelands Country Club Inc. as an individual entity. Lakelands Country Club Inc. is an association incorporated in Western Australia under the Association Incorporations Act (2015).
These financial statements comply, in all material respects, with the recognition and measurement requirements of the Australian Accounting Standards, except for AASB 16 - Leases, and are prepared in accordance with the following Standards:
AASB 101 Presentation of Financial Statements
AASB 107 Cash Flow Statements
AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors
AASB 110 Events after the reporting period
AASB 1048 Interpretation and Application of Standards
AASB 1054 Australian Additional Disclosures
These financial statements have been prepared under the historical cost convention, except for land and investments held by the Association which are reported at fair value.
To determine whether and when to recognise revenue, the Association follows a 5-step process: (1) Identifying the contract with a customer; (2) Identifying the performance obligations; (3) Determining the transaction price; (4) Allocating the transaction price to the performance obligations; and (5) Recognising revenue when/as the performance obligation(s) are satisfied.
The Association’s main revenue sources and accounting policies are listed below:
(i) Sale of goods
Revenue from the sale of goods is recognised upon the delivery of the goods to the customer.
(ii) Sale of services
Revenue from the provision of services, including subscriptions, is recognised in the period the service is provided.
(iii) Interest income
Interest revenue is recognised on a time proportional basis.
(iv) Other income
Donations are recognised in the period they are received.
The Club is exempt from income tax by virtue of s50-5 of the Income Tax Assessment Act 1997 (amended).
Leases of property, plant and equipment where the entity has substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalised at the lease's inception at the lower of fair value of the leased property and the present value of the minimum lease payments. The corresponding rental obligations, net of finance charges, are included in other long-term payables. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The property, plant and equipment acquired under finance leases is depreciated over the shorter of the asset's useful life and the lease term.
Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to profit or loss on a straight-line basis over the period of the lease.
This Standard was effective from 1 July 2019. The effect of adopting AASB 16 is to recognise right of use assets and corresponding lease liabilities for operating leases. The club has not adopted AASB 16 and continues to reflect operating lease payments as described above with the lease commitment relected at Note 16.
Lease income from operating leases is recognised in income on a straight-line basis over the lease term.
Non-current assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash flows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at each reporting date.
For cash flow statement presentation purposes, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid instruments 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 value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position.
Trade receivables are recognised initially at fair value and subsequently measured at amortised cost, less any allowances for uncollectable amounts (ie. Impairment). Trade receivables are due for settlement no more than 30 days from the date of recognition.
Collectability of trade receivables is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. A provision for impairment is established using an expected credit loss model when there is objective evidence that the club will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. Cash flows relating to short-term receivables are not discounted if the effect of discounting is immaterial. The amount of the provision is recognised in profit or loss.
Bar stock is stated at the lower of cost and net realisable value. Cost comprises the purchase cost to acquire the stock. Costs of purchased inventory are determined after deducting rebates and discounts. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.
Greens stock is stated at the lower of cost and net realisable value. Cost comprises the purchase cost to acquire the stock. Costs of purchased inventory are determined after deducting rebates and discounts. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.
The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes.
The nominal value less estimated credit adjustments of trade receivables and payables are assumed to approximate their fair values.
(j)Investments and other loans and receivables
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the club provides money, goods or services directly to a debtor with no intention of selling the receivable. They are included in current assets, except for those with maturities greater than 12 months after the balance sheet date which are classified as non-current assets. Loans and receivables are included in receivables in the statement of financial position.
Loans and receivables are carried at amortised cost using the effective interest method.
(m)Borrowings (continued)
Borrowings are classified as current liabilities unless the club has an unconditional right to defer settlement of the liability for at least 12 months after the balance date.
Provisions for legal claims are recognised when the club has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses.
represent investments in equity instruments. These investments are classifed at fair value through other comprehensive income. All gains and losses are recorded in equity.
Land is shown at fair value, based on periodic valuations by external independent valuers. All other property, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items.
Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the club and the cost of the item can be measured reliably. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.
Increases in the carrying amounts arising on revaluation of land are credited to other reserves in equity. Decreases that reverse previous increases of the same asset are first charged against revaluation reserves directly in equity to the extent of the remaining reserve attributable to the asset; all other decreases are charged to profit or loss.
Land and Course Establishment costs are not depreciated. Depreciation on other assets is calculated using the straight line method to allocate their cost, net of their residual values, over their estimated useful lives, as follows:
Buildings 2%
Furniture and fittings 15%
Plant and machinery 10% - 50%
Office equipment 25%
Reticulation System 5%
Water Licence 14.29%
Solar Panels 10%
Golf Carts 33.33%
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance
carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount (note 1(e)).
Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss. When revalued assets are sold, it is club policy to transfer the amounts included in other reserves in respect of those assets to retained earnings.
These amounts represent liabilities for goods and services provided to the club prior to the end of the financial year which are unpaid. The amounts are unsecured and are usually paid within 60 days of recognition.
Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in the statement of profit or loss and other comprehensive income over the period of the borrowings using the effective interest method.
Fees paid on the establishment of loan facilities, which are not incremental costs relating to the actual draw-down of the facility, are recognised as prepayments and amortised on a straight-line basis over the term of the
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the balance sheet date. The discount rate used to determine the present value reflects current market assessments of the time value of money and the risks specific to the liability The increase in the provision due to the passage of time is recognised as an interest expense.
Liabilities for wages and salaries, including non-monetary benefits, annual leave and accumulating sick leave expected to be settled within 12 months of the reporting date are recognised in other payables 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.
The liability for long service leave is recognised in the provision for employee benefits and 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, experiences of employee departures and periods of service.
Revenues, expenses and assets are recognised net of the amount of associated goods and services tax (GST), unless the GST incurred is not recoverable from the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or as part of the expense.
Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables or payables in the statement of financial position.
Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to, the taxation authority, are presented as operating cash flows.
This Standard amends AASB 101 to clarify requirements for the presentation of liabilities in the statement of financial position as current or non-current. For example, the amendments clarify that a liability is classified as non-current if an entity has the right at the end of the reporting period to defer settlement of the liability for at least 12 months after the reporting period. This Standard applies to annual reporting periods beginning on or after 1 January 2023, with earlier application permitted. Management of the Association has assessed that this standard is unlikely to have a material
Other than the above management assessment indicates that there are no other new Australian Accounting Standards that have been issued but are not yet effective with an expected material impact on the Association’s financial report in the period of initial application.
NOTE2:Revenue
Lakelands Country Club Incorporated
For the year ended 30 June 2022
Lakelands Country Club Incorporated
For the year ended 30 June 2022
NOTE5:Current assets - Cash and cash equivalents
Sales revenue
Sale of goods - bar and catering 1,214,104989,414
Services 2,564,6072,417,630
Government subsidies 3,811,0143,674,04432,303267,000
NOTE3:Other income
Net Profit/(Loss) on disposal of property, plant and equipment 0(39,082)0(39,082)
ProfitNOTE4:Expensesbeforeincometax includes the following specific expenses:
Depreciation
Grounds improvements, equipment 164,525166,145
Clubhouse, Bar and Catering 282,196185,335 Cart Shed 1,9561,956
Administration 468,498364,72619,82111,290
Expenditure related to land sale and capital projects Consultants, advertising, marketing and associated costs 7538,068
Hire of temporary facilities 75313,15705,089
Remuneration of auditors
Audit services 18,55014,110
No other services were provided by the auditors
Cash on Hand 3,1523,152 Cash at Bank 2,565,4883,372,5912,562,3363,369,439
The cash at Bank comprises: Operating balance 647,230 644,719
Balance of new clubhouse funds 41,897128,062 Future fund 1,216,2352,102,818
Village memberships received in advance 660,126 2,565,4883,372,591496,992
NOTE6:Current assets - Trade and other receivables
Member receivables 24,83550,368 Other receivables - Suntower 320,530184,914295,695134,546
The Suntower receivable has been included in the Debt Repayment Deed as per Note 16.
NOTE7:Current assets - Inventories
Bar stock - at cost 56,67068,391 Catering stock - at cost 10,66110,362 Greens Stock 99,660104,88632,32926,133
Greens Stock represents those items held in storage for use in maintaining the course (i.e. reticulation parts, chemicals and fertilizers).
NOTE8:Future Fund Investments
At MarketVanguardValue: Growth Index Fund 437,955 0 Alphinity Sustainable Share Fund 216,111 0 Hyperion Global Growth Companies Fund B 158,292 0 812,358 2,028,5932,102,8181,216,2352,102,8180
Future Fund Cash at Bank - Note 5 Total Future Fund Value
At Cost:
Vanguard Growth Index Fund 500,000 0
Alphinity Sustainable Share Fund 250,000 0
Hyperion Global Growth Companies Fund B 250,000 0 1,000,000 0
For the year ended 30 June 2022
NOTE9:Non-current assets - Property, plant and equipment
Land at Balancevaluationatbeginning of year 8,491,8808,491,880
Balance at end of year 8,491,8808,491,88000
The Club engaged an independent expert to estimate the fair value of freehold land at 30 June 2017. The fair value was determined based on the market comparable approach that reflects recent transaction prices for similar properties. In estimating the fair value of the properties the highest and best use of the properties was considered. Upon review, the Board determined the value of the 69.24 hectares not sold remains unchanged at $122,644.14 per hectare.
Buildings at cost 8,904,5358,530,522
Less - accumulated depreciation (1,517,298)(1,265,852)7,387,2377,264,670
Course Establishment at cost 1,505,3751,521,177
Less - accumulated depreciation 1,505,3751,521,17700
Office Equipment at cost 311,174290,787
Less - accumulated depreciation (54,275)(24,033)256,899266,754
Match Office Equipment at cost 41,70134,810
Less - accumulated depreciation (16,213)(8,658)25,48826,152
Grounds Machinery at cost 1,272,0201,206,201
Less - accumulated depreciation (1,004,236)(921,599)267,784284,602
Reticulation System at Cost 931,504931,504
Less - accumulated depreciation (439,708)(394,576)491,796536,928
Bar Equipment at cost 99,801170,109
Less - accumulated depreciation (39,026)(34,962)60,775135,147
Kitchen Equipment at cost 97,66497,664
Less - accumulated depreciation (32,301)(18,831)65,36378,833
Course Signage at cost 20,84420,844
Less - accumulated depreciation (20,844)(20,364)480
Land Development Expenses at Cost 29,84029,840
Capital Work In Progress 61,581100,614
Water Licence At Cost 123,306123,306
Less - accumulated depreciation (123,306)(123,306)00
Solar Panel at Cost 32,72732,727
Less - accumulated depreciation (18,822)(15,546)13,90517,181
Golf Carts at Cost 18,8159,686
Less - accumulated depreciation (11,718)(9,686)7,0970
Total property, plant and equipment 18,665,02018,754,258
For the year ended 30 June 2022
NOTE9:Non-current assets - Property, plant and equipment (continued)
Capital works in progress
These costs associated with contracts which are continuing in progress over the financial year end. These contracts are planned to develop assets which will be used by the club
Refurbish toilet facilities 50,533 0 Courtyard bar development 11,048 0 Fence 083,732 New buggy room 61,581100,614016,882
NOTE10:Current liabilities - Trade and other payables
Trade payables 99,559171,125 Other payables 106,55088,269
Taxation liabilities 267,427346,24761,31986,853
NOTE11:Fees in advance
Current Members' Fees 540,376419,238
Village Memberships 192,86285,344
Food and Bar Levy 121,57657,520
Holding Fees 5,4555,515
Junior Development Fund 890,692612,37030,42344,753
Non-Current Village Memberships 736,079411,648736,079411,648
NOTE12:Current liabilities - Borrowings
Unsecured Member debentures 14,25014,250 Total current borrowings 14,25014,250
Employee benefits - annual leave 176,299131,645
Employee benefits - long service leave 257,555204,40281,25672,757
Lakelands Country Club Incorporated
For the year ended 30 June 2022
NOTE14:Reserves and retained profits
Future Fund Unrealised gains/(losses) (187,642) 0 Land revaluation reserve 8,246,3798,434,0218,434,0218,434,021
Movements:
Balance 1 July 8,434,0218,434,021
Revaluation 00
Unrealised gains/(losses) (187,642) 0
Transfer between reserves 00
Balance 30 June 8,246,3798,434,021
Nature and purpose of reserves
Land revaluation reserve
The land revaluation reserve is used to record increments and decrements on the revaluation of land, as described in note 1(k).
Future Fund Unrealised gains/(losses) reserve
Unrealised gains or losses representing the difference between the cost of the investments and the current market value are recorded in this reserve account rathe rthan through the profit and loss.
NOTE15:Board members
President David Whitby
Vice President Chris Holmes - appointed at 2021 AGM
Treasurer Greg Godwin
Men's Captain Louis Carmine
Ladies Captain Sue Lowe / Rita Conway - changeover following 2021 AGM
Directors Allan
TrevorRobertRobothamDanzeBeazley- resigned in November 2021
Mark Taylor (temporary appointment) - appointed in December 2021
Janet Bleakley - changeover at 2021 AGM
Ewan Trott - changeover at 2021 AGM
Members have been part of the board for the full period under review unless otherwise noted.
For the year ended 30 June 2022
NOTE16:Contingencies
The Club has no known contingent liabilities as at 30 June 2022 (2021 - Nil).
In terms of the sale of land contract the developer of the retirement village is contractually obliged to the following items:
- Upon settlement of each unit sold, $12,500 incl GST for a 5 year club membership package for the new owner consisting of one Village Membership and one Junior Membership; and
- within 40 business days of the release of the first stage units, the Buyer shall transfer to the Seller (the Club) for no consideration one unit in the village having a value of not less than $499k and not more than $559k, unencumbered by any mortgage or charge. In the event the Buyer has has not transferred one such unit to the seller within 4 years of Settlement in satisfaction of this special condition, then the Buyer shall pay to the Seller the sum of $499,000 within 4 years and 1 month of settlement in satisfaction of this special condition.
During July 2022 the Buyer entered into a formal Debt Repayment Deed with the Club which requires eight monthly instalments of $100,000 (commencing in July 2022) and a final instalment of $36,695 totalling $836,695 comprising:
Payment in lieu of a unit in the Village Contribution to carpark Outstanding membership fees
Contingent assets 836,695245,695499,00092,000
Upon settlement of each unit sold the club invoices Suntower for the 5 year membership. Invoices for $1,355,308 have been raised of which $1,059,613 has been received, the balance of $295,695 is reflected TOTAL
as a receivable at Note 6. The total amount expected over the next 2-5 years is $3,650,000 (292 units by $12,500) less the $1,059,613 received to date. Payments for Village memberships totalling $50,000 were received between 1 July 2022 and the date of signing the deed.
In a subsequent agreement between the Club and the Buyer, the Buyer has agreed to contribute to the cost of the carpark as$92,000follows:if the City of Wanneroo retains a portion of land on the Eastern side of the Village for a road reserve, or $200,000 if the City of Wanneroo returns the portion of land set aside for a road reserve to the Buyer.
Commitments in relation to operating leases are payable as follows:
Within one year 139,143121,069
Later than one year but not later than five years 293,081326,264 Total lease liabilities 432,224447,333
As of 29 October 2021 the club has entered into a lease agreement to lease 13 Club Car Tempo Lithium-Ion Golf Cars. The term of the lease is 60 months with the monthly lease repayment being $2,197.67 excl GST.
As of 9 February 2021 the club entered into a lease agreement to lease various items of golf course maintenance machinery. The term of the lease is 48 months with the monthly lease repayment being $9,596 excl GST. The club took delivery of the machiney in April 2021 with the first lease payment occuring in May 2021.
Fence 0 17,053 0 17,053
NOTE18:Reconciliation of profit/(loss) to net cash inflow from operating
Profit/(loss) for the year (343,037)202,146
Depreciation 468,498364,726
Net (gain) / loss on sale of non-current assets 039,082
Deposit on sale of land 00
Interest received (1,803)(23,074)
Expenses related to land sale and capital projects 75313,157
Change in operating assets and liabilities:
(Increase) / decrease in trade and other receivables (135,616)26,233 (Increase) / decrease in inventories 5,226(75,521)
Increase / (decrease) in trade and other payables (78,820)(438,253) Increase / (decrease) in fees in advance 602,75334,074 Increase / (decrease) in provisions 53,153(9,821)
Net cash inflow from operating activities 571,107132,749
NOTE19:Events occurring after the balance sheet date
To the knowledge of the Board there were no material events which occurred after the reporting date and prior to the signing of these accounts.
NOTE20:Association details
The principal place of business of the Club is: Lakelands Country Club Inc. Clubhouse GNANGARALaneWA 6065
We have audited the attached special purpose financial report of Lakelands Country Club Incorporated (“the Association”) which comprises the statement of financial position as at 30 June 2022, statement of profit or loss and other comprehensive ncome, statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the declaration by the members of the board
In our opinion, the accompanying financial report of Lakelands Country Club Incorporated is in accordance with Associations Incorporation Act 2015 including:
a) Giving a true and fair view of the Association’s financial position as at 30 June 2022 and of its financial performance and cash flows for the year then ended; and
b) Complying with Australian Accounting Standards to the ext ent disclosed in Note 1 to the financial report.
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of t he Association in accordance with the auditor independence requirements of the Associations Incorporation Act 2015 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (“the Code”) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our opinion
We draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared for the purpose of fulfilling the financial reporting responsibilities under the Associations Incorporation Act 2015 As a result, the financial report may not be suitable for another purpose. Our opinion is not modified in respect of this matter.
The Board of Directors of the Association are responsible for the preparation of the financial report that gives a true and fair view and the have determined that the basis of preparation as disclosed in Note 1 to the financial statements is appropriate to meet the requirements of the Associations Incorporation Act 2015 and is appropriate to meet the needs of members. The Directors are also responsible for such internal control as the Directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the Board of Directors are responsible for assessing the ability of th e Association to continue as a going concern, disclosing, as applicable, matter s related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Association or to cease operations, or has no realistic alternative but to do so. The Board are also responsible for overseeing the financial reporting process of the Association.
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high le vel of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individ ually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Aud iting and Assurance Standards Board website at https://www.auasb.gov.au/auditors_responsibilities/ar4.pdfThisdescriptionformspartofthis auditor’s report.
AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 80 OF THE ASSOCIATION INCORPORATIONS ACT 2015 TO THE DIRECTORS OF LAKELANDS COUNTRY CLUB INCORPORATED
I declare that to the best of my knowledge and belief, in relation to the audit for the financial year ended 30 June 2022 there have been:
(i) No contraventions of the auditor independence requirements as set out in the Associations Incorporation Act 2015 in relation to the audit; and
(ii) No contraventions of any applicable code of professional conduct in relation to the audit.
Armada Audit & Assurance Pty Ltd
Nigel DirectorDiasPerth,Dated
Armada Audit & Assurance Perth,DirectorDiasDated
The additional financial data presented on the following pages is accordance with the books and records of the Club which have been subjected to the auditing procedures applied in our statutory audit of the Club for the year ended 30 June 2022. It will be appreciated that our statutory audit did not cover all details of the additional financial data.
Accordingly, Armada Audit and Assurance Pty Ltd does not express an audit opinion or provide any assurance on such the additional financial data and we give no warranty of accuracy, completeness or reliability in respect of the data provided Neither Armada Audit and Assurance Pty Ltd nor any member or employee of the Company undertakes any responsibility in respect of the additional financial data, including any errors or omissions therein however caused
Lakelands Country Club Inc.
Statement of Profit or Loss ‐ By Area
For the year ended 30 June 2022
2022 2021Variance
BAR Income 834,992726,124108,868
Cost of Sales (352,683)(279,980)(72,703) Expenses (464,979)(334,889)(130,090) 17,330111,255(93,925)
GP % 57.8% 61.4%
NI % 2.1% 15.3%
CATERING Income 379,112263,290115,822
Cost of Sales (208,466)(154,601)(53,865) Expenses (199,648)(154,335)(45,313) (29,002)(45,646)16,644
GP % 45.0% 0
NI % 7.6% (0)
CART HIRE Income 78,24570,2827,963 Expenses (58,852)(61,939)3,087 19,393 8,34311,050
MENS MATCH Income 368,328345,48822,840 Expenses (261,699)(210,560)(51,139) 106,629134,928(28,299)
LADIES MATCH Income 36,80342,265(5,462) Expenses (29,719)(33,533)3,814 7,084 8,732(1,648)
CORPORATE GOLF Income 66,59964,5642,035 Expenses (16,393)(14,997)(1,396) 50,20649,567 639
SPONSORSHIP Income 35,52650,828(15,302) Expenses (24,870)(40,635)15,765 10,65610,193 463
FUND RAISING Income 66011,583(10,923) Expenses (6,853)(5,206)(1,647) (6,193) 6,377(12,570)
NET INCOME FROM TRADING 176,103283,749(107,646) MEMBERSHIP INCOME
Subscriptions 1,914,7711,772,219142,552
Other Income 95,978327,401(231,423)
NET INCOME BEFORE OVERHEADS 2,186,8522,383,369(196,517)
GOLF CLUB OVERHEADS
Administration (636,573)(609,823)(26,750)
Grounds (1,079,087)(854,683)(224,404)
House (261,147)(228,520)(32,627) Marketing & Members (85,634)(94,306)8,672
TOTAL OVERHEADS (2,062,441)(1,787,332)(275,109)
NET OPERATING INCOME / (LOSS) 124,411596,037(471,626)
NON OPERATING ITEMS Profit/(Loss) on sale of assets 0(39,082)39,082
Interest Received 1,80323,074(21,271)
Long Term Planning (753)(13,157)12,404
Depreciation (468,498)(364,726)(103,772)
NET INCOME / (LOSS) (343,037)202,146(545,183)
ARMADA AUDIT & ASSURANCE PTY LTDLakelands Country Club Inc.
Statement of Profit or Loss Detailed
For the year ended 30 June 2022
2022
Bulk Beer Income 402,039318,88783,152Increased patronage
Packaged Beer Income 192,045197,318(5,273)
Spirits Income 35,85727,9057,952
Wines/Ciders Income 85,43066,46118,969Increased patronage
Soft Drinks Income 53,54644,6448,902
Post Mix Income 02,182(2,182)
Confectionery Income 384,936(4,898)
Supplier rebates 40,21532,0888,127
Till Variance 276295(19)
Alcoholic/Mixed Drinks Income 25,54631,408(5,862)
Total Bar Trading 834,992726,124108,868
Bulk Beer COS 177,595135,796(41,799)In line with revenue
Packaged Beer COS 75,52973,472(2,057)
Spirits COS 14,49210,792(3,700)
Wines/Ciders COS 46,84127,049(19,792)In line with revenue
Soft Drinks COS 23,23715,439(7,798)
Post Mix COS 0 58 58
Confectionery COS 2,8273,807980
Ice COS 73 60(13)
Alcoholic/Mixed Drinks COS 10,46611,197731
Water/ Fruit Juice COS 1,6232,229606
Sundries COS 0 81 81
Total Bar Cost of Sales 352,683279,980(72,784)
Salaries & Wages Bar 376,639266,397(110,242)More staff over entire year
Annual Leave Bar 14,06312,908(1,155)
Superannuation Bar 35,98625,145(10,841)In line with higher wages
Workers Comp Insurance Bar 3,7693,447(322)
Bar Promotions/Chase The Ace 5,6001,900(3,700)
Bar Gas 2,1191,702(417)
Ice 415 0(415)
Glass Replacement Expense 1,077 0(1,077)
Bar Staff Uniforms 0676676
General Expenses Bar 1,0381,731693
Laundry Costs Bar 7,4002,594(4,806)
Staff Training Bar 0994994
Dept of RGL License Bar 000
Long Service Leave Bar 2,3632,202(161)
Payroll Tax Bar 7,9352,777(5,158)
Bar Equip Maint & Repairs 3,4504,9161,466
Drinks Cart Lease Expense 3,1257,5004,375
Total Bar Overheads 464,979334,889(130,090)
Surplus / (Deficit) Bar 17,330111,255(93,925)
CATERING Income
Lakelands Country Club Inc.
Statement of Profit or Loss ‐ Detailed
For the year ended 30 June 2022
2022 2021 Variance Explanation for Variance > $10,000
Catering Sales 379,112256,513122,599Increased patronage Coffee Sales 06,777(6,777)
Total Catering 379,112263,290115,822
Cost of Sales
Food Including GST COS 5,90619,75413,848Less pre packaged food used
Food GST Free COS 190,861119,301(71,560)In line with revenue
Damages ‐ discards 0 0 0
Waste ‐ End of Day Throw outs 03,8093,809
Coffee Machine Supplies 11,69911,737 38
Staff Discounts 0 0 0
Total Food Purchases 208,466154,601(53,865)
Expenses
Salaries & Wages Catering 130,56099,434(31,126)More staff over entire year
Annual Leave Catering 11,2433,758(7,485)
Pest Control Catering 0 0 0
Superannuation Catering 13,5679,212(4,355)
Workers Comp Insurance Caterin 5,3424,435(907)
Utensils Catering 4,2935,9321,639
Disposables Catering 10,2574,700(5,557)
Mileage Catering 0 0 0
Council License Fee Catering 282275 (7)
Equip Rep & Maint Catering 1,7221,230(492)
Payroll Tax Catering 2,9141,031(1,883)
Catering Equipment under $2000 3,9497,4783,529
Long Service Leave Catering 2,3371,054(1,283)
Staff Training Catering 13,18215,7962,614New staff training
Lease Coffee Machine 0 0 0
Total Catering Overheads 199,648154,335(45,313)
Surplus / (Deficit) Catering (29,002)(45,646)16,644
CART HIRE
Income
Cart Hire Income 76,80065,27311,527 Greater usage of carts
Cart Storage Ride On Income 03,418(3,418)
Gopher Storage Income 1,4451,591(146)
Total Cart Hire 78,24570,2827,963
Expenses
Lease Payments Cart 27,32230,9633,641
Commission On Cart Hire 23,04019,184(3,856)
Service & Running Costs Carts 3,5816,8833,302
Electricity Carts 4,9094,909 0
Total Cart Hire Expenses 58,85261,9393,087
Surplus / (Deficit) Cart Hire 19,3938,34311,050
Income
Lakelands Country Club Inc.
Statement of Profit or Loss ‐ Detailed
For the year ended 30 June 2022
2022
Mens Competition Fees Income 275,409246,85128,558
Mens Match Major Events Income 41,78847,925(6,137)
Mens Match Pennants Income 5,47710,651(5,174)
Mens Match Sponsorship Income 4553,340(2,885)
Mens Match Eclectic Income 423909(486)
Donated Trophies/Prizes 0596(596)
Score Card Folders Income 000
Pro Am Income 17,00516,009996
Order Of Merrit Income 8451,827(982)
100 Club Sponsorship Income 02,020(2,020)
Monthly Mug Sponsorship Income 02,400(2,400)
Other Events 08,727(8,727)
Junior Competition Income 1,1711,068103
More rounds and competition fee increased for certain events
LADIES MATCH
Income
Lakelands Country Club Inc.
Statement of Profit or Loss ‐ Detailed
For the year ended 30 June 2022
2022 2021 Variance Explanation for Variance > $10,000
Ladies Competition Fees Income 22,30122,032269
Ladies Match Major Events Inco 7,9138,821(908)
Ladies Pennants Income 8421,187(345)
Eclectic, Silver Bronze, Int B 1,4232,918(1,495)
Sponsorship ‐ Ladies 4001,000(600)
Ladies Committee Income 6,1132,0184,095
Ladies Raffle (1,330)1,616(2,946)
Ladies Other Income (859)859(1,718)
Total Ladies Match 36,80342,26527,382 Expenses
Ladies Comp Trophies/Prizes Ex 14,70512,950(1,755)
Ladies Major Events Expense 5,9286,9681,040
Junior Development Income 24,7552,16522,590 Transfers from junior reserve fund based on usage
Junior Sponsorship Income 1,0001,000 0
Total Mens Match 368,328345,48822,840
Expenses
Mens Comp Trophies/Prizes exp 155,674116,723(38,951)
Mens Match Major Events Expens 19,39630,26710,871
Mens Match Pennants Expense 5,4774,541(936)
Mens Hole In One Exp 3,8991,857(2,042)
Monthly Mugs expense 8401,720880
Plug Repairers Expense 2,396 0(2,396)
Pro Am Expense 12,93416,4403,506
Mens Captains Expenses 863756(107)
Mens Match Meeting Costs 3611,4741,113
Mens Match General Expenses 11 0(11)
Mens Eclectric/OOM Expense 4,1954,635440
Mi Club Expense 28,14221,011(7,131)
Honour Board Update 0 9 9
Score Cards Expense 03,2213,221
Mens Match Print,Post, Stat 000
Greater allocation of entry fees to prizes
Fewer entries in major events, hence fewer costs
Junior Development Expense 21,4595,026(16,433) Greater usage of junior development fund
Junior Scholarship Expense 2,789 0(2,789)
Junior Events Expense 3,2632,880(383)
Total Mens Match 261,699210,560(51,139)
Surplus / (Deficit) Mens Match 106,629134,928(28,299)
Ladies Social/ Fund Raising Ex 000
Ladies Pennants Exp 1,9182,197279
Ladies Hole In One Exp 261 0(261)
Ladies Captains Expenses 7691,688919
Ladies Meeting Costs 000
Ladies Postage & Stationery 0 0 0
Ladies Golf/ Event 03,7883,788
Ladies Clinic Expenses 03,5233,523
Ladies Committee Expense 5,727307(5,420)
Ladies Miscellaneous 01,2161,216
Ladies Eclectic/Silver/Int exp 411895484
Total Ladies Match 29,71933,5333,813
Surplus / (Deficit) Ladies Match 7,0848,732(1,648)
CORPORATE GOLF Income
Visitors Green Fees 58,76364,564(5,801)
Corporate Golf Greens Fees 7,836 07,836
Total Corporate Golf 66,59964,56436,620 Expenses
Corporate Golf Days Expense 0 0 0
Commission On Green Fees Expen 9,57710,7451,168
Visitor Drink & Prize Vouchers 6,8164,252(2,564)
Total Corporate Events 16,39314,997(1,396)
Surplus / (Deficit) Corporate Golf 50,20649,567639
Corporate Sponsorship Income 35,52650,828(15,302) Sponsorships less actively sought Expenses
Corporate Sponsorship Expenses 1,361 0(1,361)
Corporate Membership Expense 16,60926,4959,886
Major Events Sponsorship 1,7005,7404,040
Pro Am Sponsorship 4,2002,800(1,400)
100 Club Sponsorship 01,5001,500
Monthly Mug Sponsorship 0 0 0
Ladies Sponsorship 0600600
Junior Sponsorship 1,0002,5001,500
Pennants Sponsorship 01,0001,000
Total Sponsorship 24,87040,63515,765
Surplus / (Deficit) Sponsorship 10,65610,193463
Income
Lakelands Loss
Subscriptions 1,585,8061,532,56253,244
Affiliation Fee Income 55,90456,571(667)
Moiety Charge Income 36,30337,230(927)
Entrance Fees 36,65014,32522,325
Insurance Income 16,87217,662(790)
Buggy Tag Income 393560(167)
Overall increase in number of members
Entrance fee applicable for whole year
Village Subscriptions Income 182,843113,30969,534 In-line with increased occupancy
Total Membership Income 1,914,7711,772,219142,552 Expenses
Affiliation Fees Expense 53,64556,2672,622
Membership Insurance Expense 10,5257,100(3,425)
Buggy Tags Expense 0870870
Membership Adv & Marketing Exp 09,8419,841
Membership Postage Expense 0179179
Membership Print & Stationary 170 64(106)
New Members Incentive Expense 2,7187,7054,987
Membership Meeting Costs 1,325790(535)
Membership General Expenses 520230(290)
Pricaps Rejection Fee Expense 0 20 20
Slice Processing Fee 06,0956,095
Club Ties/Name Badges Expense 2,859309(2,550)
Membership Clinic Expenses 0154154
Buggy Room Expenses 0 95 95
Membership Foxtel Newspapers 13,8724,587(9,285)
Total Membership 85,63494,3068,672
Surplus / (Deficit) Membership 1,829,1371,677,913151,224
FUND RAISING
Income
Bar Fundraising 0 72(72)
Bar Events & Functions Income 8959,319(8,424) In 2022 income posted to catering area. Mini Lotto 920442478
Footy Tipping (1,155)1,236(2,391) Footy tipping stopped. Payout for prior year comp. Raffles 0514(514)
History Book 0 0 0
Total Fund Raising Income 66011,583(10,923)
Expenses
Events & Functions Expense 6,6004,888(1,712) More events paid for in 2022 Raffle 253318 65
Fund Raising Corporate Day Exp000
Members Prize Draw Expense 0 0 0
Total Fund Raising 6,8535,206(1,647)
Surplus / (Deficit) Fund Raising (6,193)6,377(12,570)
OTHER INCOME
Lakelands Country Club Inc.
Statement of Profit or Loss ‐ Detailed
For the year ended 30 June 2022
2022 2021 Variance Explanation for Variance > $10,000
Driving Range Commission Incom 12,38213,333(951)
Fuel Tax Credit(From BAS) 7,11710,159(3,042)
Sundry Income 13,36117,535(4,174)
Buggy Bay Rental 20,73110,41610,315
Buggy Room & Electric 0 0 0
Back to normal levels, reduced capacity last year
Government / Jobkeeper subsidies 32,303267,000(234,697) One-off Jobkeeper in 2021 Lockers Income 10,0848,9581,126
Total Other Income 95,978327,401(231,423)
I.T. Expenses
10,60121,87811,277 New office setup costs last year
Salaries & Wages Admin 304,068288,878(15,190) Slight increase in full time equivalents
Annual Leave Admin 38,31329,890(8,423)
Superannuation Admin 30,05228,934(1,118)
Workers Comp Insurance Admin 4,5483,117(1,431)
Long Service Leave Administrat 7,1295,354(1,775)
Uniforms Admin 327420 93
Staff Expenses Admin 7,7356,940(795)
General Manager's Expenses 2,6492,600(49)
Advert & Marketing Admin 2351,6271,392
Training & Seminars Admin 7,4713,796(3,675)
Consulting Fees 60018,20117,601 One-off type costs incurred last year
Audit & Legal Admin 18,55014,110(4,440)
Board Expenses/Annual Report 11,44310,198(1,245)
Insurance Admin 45,61032,994(12,616) Overall increase in cost of insurance
Rates & Taxes Admin 18,20317,924(279)
Subscriptions 3,9804,205225
Postage Admin 2721,5431,271
Stationery/ Photo Admin 7,3957,300(95)
Telephone Admin 6,4459,7803,335
Office Equip/Main & Repairs 7072,6631,956
Mileage Adm n 000
Presidents Expenses 930685(245)
Meeting Costs Adm n 000
General Expenses Admin 3,546151(3,395)
Golf Registration Fees 0291291
Payroll Tax Admin 7,1842,162(5,022)
Merchant Fees 11,01412,9201,906
Cheque Account Fees 964(1,000)(1,964)
Internet/eftpos lines 5,4555,485 30
Stripe Fees 3,3482,576(772)
Ezidebit Fees 7,6354,097(3,538)
General Expenses Golf Admin 01,3221,322
Professional Retainer 70,16468,782(1,382)
Total Administration 636,573609,823(26,750)
Lakelands Country Club Inc. of Profit or Loss ‐ Detailed
Salaries & Wages Grounds 486,564454,407(32,157)
Annual Leave Greens 47,71243,484(4,228)
Superannuation Grounds 47,88850,5522,664
Workers Comp Insurance Grounds 9,4426,966(2,476)
Long Service Leave Grounds 11,6868,294(3,392)
Staff Training Grounds 9,8885,089(4,799)
Payroll Tax Grounds 8,8852,851(6,034)
Vehicle Running Costs Grounds 1,1441,306162
Staff Amenties Grounds 1,091159(932)
Telephone grounds 1,1931,240 47
Electricity Grounds 32,57734,3101,733
Safety Equip/Uniforms Grounds 4,2557,3343,079
Hand tools Grounds 3,04710,6767,629
Gas Supplies Grounds 578831253
Alarm Monitoring Grounds 0542542
More full-time equivalents but expense within budget
Fertilisers 59,59342,868(16,725) Significant cost increases due to freight costs and supply issues
Pesticides & Chemicals 55,44439,615(15,829) Significant cost increases due to freight costs and supply issues
Course Repairs ‐ Structures 4,1384,240102
Course Maint Trees, Shrub,Turf 5,5492,605(2,944)
Signage 5,2536,3591,106
Building Maint & Rep Grounds 9,10710,3451,238
Retic Maint & Rep Grounds 8,6497,171(1,478)
Office Supplies & equip repair 80 61(19)
Equipment Hire Grounds 116,78219,547(97,235) Lease of new machinery for the full year, in-line with 2022 budget
Contractors Grounds 4,200 0(4,200)
Landscape Plan/ Maintenance 36,8812,274(34,607) Stump grinding and costs for landscaping clubhouse and carpark
Meeting Costs Grounds 213 54(159)
Volunteers Expenses Grounds 11,33814,3603,022
New Rakes 3,562 0(3,562)
Electricity Consultant 837 0(837)
Greens Shed 12,58013,278698
Course Renovations 9,9363,474(6,462)
Bore Maintenance Expense 3,838331(3,507)
Insurance Grounds 1,2261,383157
Rubbish Removal Grounds 3,8466,1042,258
Pathway Maintenance 0 0 0
Fuel Diesel Grounds 16,43818,0511,613
Fuel Grounds 8,2066,861(1,345)
Fuel Grounds 966227(739)
Maintenance of machinery 34,47527,434(7,041)
Total Grounds Expendirure 1,079,087854,683(224,404)
Lakelands Country Club Inc.
Statement of Profit or Loss ‐ Detailed
For the year ended 30 June 2022
2022 2021 Variance Explanation for Variance > $10,000
Salaries & Wages House 49,52269,63920,117 Change over from staff to contractors
Annual Leave House 1,5675,0913,524
Payroll Tax House 1,431479(952)
Superannuation House 3,5086,7373,229
Workers Comp Insurance House 1,285773(512)
Toiletries Expense 8,1167,417(699)
Long Service Leave House 4571,091634
Newspapers 0 0 0
Electricity House 48,86641,139(7,727)
Equipment Maint & Repair House 10,24010,157(83)
Building Maint & Repairs House 15,00525,23610,231 One-off costs in 2021 related to moving into new facilities
Water Usage House 13,6093,635(9,974)
Alarm Monitoring House 2,5612,394(167)
Meeting Costs House 204184(20)
LP Gas House 22,75514,931(7,824)
Cleaning Supplies House 8,0756,644(1,431)
Rubbish Removal House 7,1214,919(2,202)
General Expenses House 3,3211,732(1,589)
Cleaning Sub contract House 49,1755,935(43,240) Change over from staff to contractors
House Uniform 0113113
FBT Caretakers Cottage 2,1439,3177,174
First Aid / Safety Equip House 90 0(90)
Damages Insurance Claim House 418 0(418)
Laundry Costs House 6,6096,740131
Occl Health & Safety House 2,6214,1681,547
Caretaker residence 2,448 49(2,399)
Total House 261,147228,520(32,627)
Fees & Charges LTP 000
Meeting Costs LTP 0 15 15
Printing LTP 000
General Expenses LTP 753753 0
Board Exp Long Term Planning 03,9003,900
Adv & Promotions (LTP) 0 0 0
Admin Rental Temp Facility 03,2753,275
Kitchen Rental Temp Facility 0 0 0
Bar Temp Equipment Rental 01,8141,814
Legal Expenses LTP 03,4003,400
Total Long Term Planning 75313,15712,404
NON OPERATING INCOME
Interest Received 1,80323,074(21,271) Less funds on call and reduced interest rates
Profit ‐ Sale of Assets 0(39,082)39,082 No assets sold during the year
Total Non Operating Income 1,803(16,008)17,811
Depreciation Bar 10,78312,0681,285
Depreciation Catering 13,4709,584(3,886)
Depreciation Carts 1,9561,956 0
Depreciation Admin 19,82111,290(8,531)
Depreciation Grounds 164,525166,1451,620
Depreciation House 257,943163,683(94,260) New clubhouse now being depreciated
Total Depreciation 468,498364,726(103,772)
NET INCOME / (LOSS) (343,037)202,146(545,183)
1 July 2021 – 30 June 2022
Mens: Club Champion – Ryan Peake
Foursomes – Ally Bell & Sam Botica
Lakelands Open – Fred Walker
Ladies: Club Champion – Kortni Houston
Foursomes – Di McPhail & Sookhee Takeshima
Majors: Australia Day Trophy – Petra Collier
Stan Griffiths Cup – Austen Watkins
Founders Cup – Lenny Au
Anzac Day Trophy – Jim Gooden
Captains Cup – Craig Daw Presidents Trophy – Chris Holmes Memorial Cup – Ray Bechard
Ladies Majors: Shirley Martin Brooch – Sue Whitby
Founders Cup – Sue Fitzgerald
Veterans & Non Veterans – Petra Collier & Laura Swithenbank
Presidents Trophy – Gill Henderson
Juniors: Boys Club Champion – Fred Walker
Girls Club Champion – Danielle Ray Del Val
Pennants: Junior Girls
1 July 2021 – 30 June 2022
President – David Whitby
Vice President – Chris Holmes
Treasurer – Greg Godwin
Mens Captain – Louis Carmine
Ladies Captain – Sue Low
Director – Allan Robotham
Director – Rob Danze
Director – Janet Bleakley
Director – Trevor Beazley/Mark Taylor
1 July 2021 – 30 June 2022
Mens Vice Captain – Rob Steel
Ladies Vice Captain – Katrina Freeman
