Murray Downs Golf & Country Club Limited
WE’RE MORE THAN A CLUB
As a community centred, profit for purpose organisation, our success helps to improve the lives of MDGCC Members and the wider community. Every dollar we make is shared back, whether it’s through donations and grants, sponsorships of local sporting teams or new services and facilities for our members and guests to enjoy.
217,651
CLUB VISITS IN 2024
112,762 MEMBER VISITS
88,835 VISITOR VISITS
16,054
LOCAL VISITOR VISITS
$3 MILLION + PURCHASED FROM LOCAL BUSINESSES
$5.8 MILLION+ PAID IN WAGES TO LOCAL RESIDENTS
80+ NIGHTS OF FREE LIVE MUSIC & ENTERTAINMENT PROVIDED + 208 BINGO & 52 POKER EVENTS
$680,000+ GIVEN AWAY IN MARKETING AND PROMOTIONS TO MEMBERS
2024 saw Murray Downs and Swan Hill in the world spotlight as we hosted the 2024 Ford NSW Open Tournament feat Cam Smith & Lucas Herbert.
Media coverage across all mediums:
Online: 6.4b | Print 26.7m | Broadcast 2.7m Social 16.8m | 7Plus audience: 353,600 people
Congratulations Col Hedwards, the newest life member of Murray Downs Golf & country Club. Members unanimously supported the induction of Colin Hedwards to life membership of the Club. Col has provided long and meritorious service to the Club for over 38 years, and is the current Club President. His passion and commitment to the Club and his service to the Swan Hill community has resulted in this deserved recognition.
The Club is in a strong financial cash position, for the intended plans to ensure the viability into the future of our Club.
The Lifestyle Community Project is still very much a part of consolidating our future, although small hurdles continue to ‘pop up’ and slow the process.
Tenders for the Murray Downs Club are currently being processed and works will commence in the very near future. The Swan Hill Club renovations are also being considered, we look forward to sharing our visions for an upgraded facility for members and guests.
In November 2024 Greg Roberts our CEO of 16 years advised of his decisions to move on to the Mulwala Ski Club. Greg’s contributions, dedication and commitment to Murray Downs Golf and Country Club will not be forgotten by the Board Members and staff over his time. We wish Greg and Melissa all the very best in their new location.
We welcome our new
PresidentFROM THE
The 2024 financial year has seen that our Clubs have recorded a satisfactory result and continue to provide excellent facilities and financial support to our community.
CEO Mark Parry and his wife Sheridan to Swan Hill. Mark took over the role in late January and is quickly adapting to the position.
The Murray Downs Golf and Country Club hosted the 2024 NSW Open Championships in November. This was the 3rd richest tournament on the Australian golfing calendar and was televised on 7plus. The inclusion of LIV players Cameron Smith, Lucas Herbert and 2006 US Open winner Geoff Oglivy added to the prestige of the event. The television coverage of our course and region to the rest of Australia was unmeasurable. We have received countless praise and positive feedback from players, officials and spectators, the befits of this opportunity will be longlasting for our Club. It was wonderful to see our local members and community support Murray Downs throughout the tournament. Thanks to the 150+ volunteers who assisted in making the event a huge success. I would like to thank Paul Robinson our Course Superintendent and his team for the
presentation of the course for this event and throughout the year.
I would also like to thank Pam James (and now Mick for helping out in the role) along with their committees for looking after all things golf for our members and visitors.
The Bowls section of the Club is in great hands with Gary (Shorty) and his committee continuing to promote a great experience for our bowling members and guests.
I would like to thank my fellow Directors for their time and commitment. Their efforts benefit Murray Downs Golf and Country Club members guests and the Swan Hill community.
Finally, I would like to encourage all local members to continue their support towards our two venues that we continue to grow.
Colin Hedwards President, MDGCC
Dear Members
My wife, Sheridan, and I have been warmly welcomed by the Board, members, staff, and the broader Swan Hill and Murray Downs community.
Your hospitality has made our transition seamless, and for that, we are deeply grateful.
I extend my heartfelt thanks to the departing CEO, Greg Roberts, for his exemplary 16 years of service. His leadership, alongside Greg Ferguson, affectionately known as “The Ferg,” our long-serving Operations Manager, has left the Club in a strong position.
The “Two Gregs” ran the Club with dedication and professionalism, providing a solid foundation that has greatly assisted me in stepping into this role.
2024 Highlights
The Club proudly hosted the 2024 NSW Golf Open, a landmark event featuring world-renowned golfer Cameron Smith.
The tournament attracted thousands of visitors to our Club and the region, proving a resounding success for NSW Golf and our community. The global coverage has elevated our profile, with many new visitors now enjoying our course, a benefit we expect to continue well into the future.
Chief Executive Off icer FROM THE
It is with great pleasure that I present my first CEO report for Murray Downs Golf & Country Club Limited, having commenced my role in January 2025.
Financial Performance
For the year ended 31 December 2024, the Club recorded a net profit of $119,707, a decrease from $514,324 in 2023.
This reduction reflects a strategic one-time write-off of over $211,000 in accrued Work in Progress not proceeding to realisation, ensuring the accounts accurately represent the Club’s financial position.
EBITDA remained robust at $1,428,466. Revenue increased to $16,395,546 from $15,374,099, driven by strong performances in poker machines ($7,003,402), catering ($3,765,127), and bar operations ($2,329,240).
The Club’s cash position is solid at $4,955,441, with net assets of $18,956,231, supported by prudent financial management.
Like many, the Club faces rising costs across all sectors, and my focus in the coming year is to thoroughly review all operational aspects to address these pressures.
Future Initiatives
Looking ahead, we are excited about planned renovations to enhance the alfresco and indoor gaming areas at Murray Downs, improving the member and guest experience.
Renovations at the Swan Hill Club are pending clarity on the Victorian Government’s gaming policy,
which will provide certainty for our investment decisions.
Additionally, the development of a new lifestyle village, featuring over 200 homes in a gated community for those over 55, is set to commence, promising significant benefits for the Club and the region.
Acknowledgements
I extend my sincere thanks to our Golf Captains, Mick and Pam, and Bowling President, Shorty, for their leadership and support.
My heartfelt gratitude goes to the board for their guidance and trust in me.
To all our staff, your commitment and hard work have made my transition into this role seamless, and I am truly grateful.
A special thank you to my wife, Sheridan, for her unwavering support. Finally, thank you to our members and the community for your continued support, which drives our success.
Together, we will build on the Club’s legacy, delivering exceptional facilities and experiences for all.
Warm regards,
Mark Parry Chief Executive Officer
WE ARE OVER 8000 LOCAL PEOPLE COMING TOGETHER FOR ONE PURPOSE...
TO IMPROVE THE LIVES OF OUR MEMBERS AND COMMUNITY
WHO WE ARE
Born from mateship and built to improve the lives of our community, MDGCC may be seen as being like others, but we stand alone in our purpose and impacts.
Close to 40 years ago, we were created as a Profit for Purpose organisation that provides goods and services and then takes the money we make and uses that to improve the lives of our community. It is a tradition and a business model we continue today.
We have been delivering to the needs of our members since the day we began.
Every dollar we make is shared back into our local community, whether through donations and grants, sponsorships of local sporting teams or new services and facilities for community members to enjoy.
& why we exist Values Mission
With the changing needs of our members and our local community, we are evolving to deliver more to our members in coming years in terms of affordable housing, hospitality and facilities.
OUR HISTORY
OUR
OUR Community Involvement Honesty | Excellence
to provide quality sports & social facilities whilst building strong community partnerships
Directors BOARD
Col Hedwards President
Ash Free Vice President
Gary Slater Secretary
Bill Gurnett Treasurer
Diane Martin
Ben Smith
Craig Fletcher
Ian Read
Brian White
ClubGRANTS & SHC Community Benefits BENEFICIARIES IN 2024 AND 2025 INCLUDE:
Anzac School Initiatives
Balranald Inc
Balranald NAIDOC Committee
Belvoir Park Golf Club
Berriwillock Golf Club
Birchip Golf Club
Central Murray & Golden Rivers leagues Inc
Chasing Hope
Deniliquin RSL
Elmhurst Golf Club
Griffith Golf Club
Inner Wheel Swan Hill
Kyabram Parkland Golf Club
Lake Boga Yacht Club
Lions Club Moorabbin
Mallee Cruisers Car Club
Manangatang Preschool
Murray Downs Fire Brigade
Murray Mallee Bowls Region
NNW United Football Netball Club
Nyah & District Pony Club
Rochester Lions Club
St Mary’s Primary School
Swan Hill Badminton Association
Swan Hill College Scholarship Foundation
Swan Hill District Health
Swan Hill District Agricultural & Pastoral Society
Swan Hill Football Netball Club
Swan Hill Incorporated
Swan Hill Kart Club
Swan Hill Lawn Tennis & Croquet Club
Swan Hill Neighbourhood House
Swan Hill Parkinson’s Support Group
Swan Hill Regional Library
Swan Hill RSL Cricket Club
Swan Hill Rugby Club
Swan Hill SES
Tyntynder Football Netball Club
Tyntynder Homestead Incorporation
Visitor & Community Comfort Centre
VIVID
Woorinen Football Netball Club
+ many, many more!
WE ALSO WORK WITH MANY OF OUR CORPORATE SPONSORS TO DONATE PROCEEDS OF GOLF DAYS AND EVENTS TO LOCAL CHARITIES
Murray Downs Golf & Country Club Limited
Licensed under the N.S.W. Liquor Act
Postal Address: P.O. Box 496 SWAN HILL 3585
A.C.N. 003 382 947
E-mail: clubinfo@mdclubs.com.au
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the 35th Annual General Meeting of the Club will be held at the Club premises, Murray Downs Drive, Murray Downs, New South Wales on Tuesday, 23 May 2023 at 7:30pm.
Notice is hereby given that the 37th Annual General Meeting of the Club will be held at the Club premises, Murray Downs Drive, Murray Downs, New South Wales on Tuesday, 20 May 2025 at 7:30pm.
AGENDA
AGENDA
1. To confirm the Minutes of the previous Annual General Meeting.
1. To confirm the Minutes of the previous Annual General Meeting.
2. To receive the President’s Report.
2. To receive and consider the President’s Report.
3. To lay the financial report, directors’ report and auditor’s report before the meeting for the year ended 31 December 2022.
The reasonable cost of directors and their partners attending at the Registered Clubs Association Annual General Meeting.
The reasonable cost of directors and their partners attending seminars, lectures, trade displays and other similar events as may be determined by the Board from time to time.
• The reasonable costs of directors and their partners attending other Clubs or Casinos throughout the State or relevant interstate venues for the purpose of observing their facilities and methods of operation as organised by the club.
3. To receive and consider the financial report, directors’ report and auditor’s report for the year ended 31 December 2024.
4. Appointment of an Auditor for 2023-2024.
5. Declaration of names of Directors elected.
4. Declaration of the results of the election of the Board.
A director who represents the Club at venues described under (4) (i), (ii) or (iii) provide a written report within 14 days.
5. To deal with any other business of which due notice has been given to members.
6. To deal with any other business of which proper notice has been given - Ordinary Resolution 1.
6. To deal with any other business that the meeting may approve, of which due notice has not been given.
7. To deal with any other business that the meeting may approve, of which due notice has not been given.
Dated: 7th April 2025
At the meeting, the members will be asked to consider and if thought fit pass the following resolution which is proposed as an ordinary resolution pursuant to the Corporations Act.
By direction of the Board
5. The members acknowledge that the benefits in paragraphs (1), (2), (3) and (4) above are not available to members generally but only for those who are Directors of the club.
Explanatory Note
Please note this resolution is required under the Registered Clubs Act 1976 and is procedural.
Procedural Matters
Ordinary Resolution 1:
That pursuant to the Registered Club Act;
Mark Parry Chief Executive Officer
1. The members hereby approve expenditure by the club over the following 12 months for the following activities of Directors in their service as members of the Club’s Board of Directors.
DIRECTORS’ NOMINATIONS
The reasonable cost of a meal and beverage for each Director, and their partner, before or immediately after Raffle Duty, a Board or Committee Meeting on the day of that meeting.
1. To be passed, the Ordinary Resolution must receive votes from 50% +1 of those members who being eligible to do so vote in person on the Ordinary Resolution at the meeting.
2. Only Life Members and financial Full Members shall be eligible to vote on the Ordinary Resolution. (all categories of membership except Junior Members are eligible to vote)
3. Under the Registered Clubs Act 1976 members who are employees of the club are not entitled to vote on the Ordinary Resolution.
4. Proxy voting is prohibited by the Registered Clubs Act 1976.
Reasonable expenses incurred by Directors in relation to other events including entertainment of special guests of the Club and promotional activities in relation to the club for which expenses are approved by the Board before payment is made, on production of invoices, receipts or other proper documentary evidence of such expenditure.
5. Amendments (other than minor typographical corrections which do not alter the substance or effect of the Resolution) will not be permitted from the floor of the meeting.
Any eligible Country Club Sports – Golf & Bowls, Country Club Sports – Golf, Country Club Sports – Bowls or Country Club Life Members of the Club shall be at liberty to nominate an eligible member to serve as a member of the Board. The nomination, on the prescribed form, shall be signed by the member and his or her proposer and seconder, and lodged with the Chief Executive Officer no later than 6pm, Monday 28 April 2025.
6. If the Ordinary Resolution is passed it will take effect immediately.
Only Country Club Sports – Golf & Bowls, Country Club Sports – Golf, Country Club Sports – Bowls or Country Club Life Members shall be eligible to be elected to the Board, provided they have been a financial member of the Club for a consecutive period of at least twelve (12) months.
7. The Board of the Club recommends this Resolution to the members.
Additionally, no more than two members of the Board can be Country Club Sports -Bowls only members.
2. The provision and marking out of car parking spaces for the exclusive use of Directors, and such other persons as the Directors shall from time to time approve.
3. The provision of a Club Directors uniform.
Dated: 28 March 2023 By direction of the Board
In accordance with section 24 and 25 of the Constitution, this year three positions as a Director shall be elected. The three elected directors shall hold office for a period of three (3) years.
4. The professional development and education of directors over the following twelve months including:
Nomination forms will be available from the Club’s Front Reception.
Gregory Roberts | Chief Executive Officer
After hearing the reasons why, I didn’t hesitate in stepping back into this roll, for the interim period. I sincerely wish James and his family all the very best, as they struggle with some very serious family issues and congratulate him on having the intestinal fortitude, in reaching out for help, in this difficult period.
And so, golf goes on.
On the golfing scene, we have held two of our major tournaments, so far in 2025, the Recip-rocal and Seniors, as well as several sponsors days, all with very high participation numbers.
The very popular “Bailey Ag” Australia Day 2-person Ambrose, attracted 146 players, with the winners being, Luke Merritt & Steve Bulmer (60.25), from Chris Joyce & Craig Davies (60.5) in 2nd position, with Joesph Grzinic & Adam Laughlin and Craig Fletcher & James McLean the next best each with on 60.75.
This event was closely followed by the 2025 Reciprocal tournament, attracting a near capac-ity field of golfers. The weekend got under way, with a 4BBB stableford competition of Friday, in which a couple from Box Hill kick starting their weekend, in Bernard Tanner and Clinton Robinson coming out on top with a very good score of 52 points from a Rich River pair
Men’s Captain GOLF
Let me begin, by stating that after serving as your captain for four years, 2020 – 2023, I re-ceived a call by, in midDecember 2025, if I would/could step back into the roll as the Men’s Captain of the Murray Downs Golf & Country Club, for at least the next 12 months.
2024 MEN’S CHAMPIONSHIPS:
A GRADE JAMES MCLEAN
B GRADE OLLIE ROHDE
C GRADE QUENTIN GRAHAM
D GRADE SEBASTIAN PARSEGHIAN
JUNIOR’S NOAH STARRS
in Mark Hay & Bruce Cumming, also with a very good score of 48 points. The Reciprocal tournament winners for 2025 is a team of regular visitors to Murray Downs, from Bunninyong, in Phil Tolliday, Brett Tolliday, Matt McCann and Adam McCann with scores of 118 & 102 = 220. Runner/ up was a team from Box Hill, in Andrew White, Bernard Tanner, Anthony Lansdowne & Paul Bennetts with 204 points.
The local section was taken out by Jorgan Leschke, Noah Starrs, Matt Lenton & Kamron Leys with scores of 108 & 92 = 200, from the team consisting of Dave Doolan, Luke Doolan, Ben Smith & Jarrod McKenzie with 198 points.
The next event on the calendar was the annual 36-hole Seniors tournament, (50 years and over), with 220 (164 men & 56 women) players coming from many parts of Australia. The winner of the “younger women” section was Lynne Merrett (Murray Downs) with daily scores of 34/46
points (80), from Jenny Lynas (Murray Downs) 36/36 = 72. The “more senior women’s” section was taken out by Susan Reid (Yarrawonga) with 39/42 points = 81, from Gloria Roome (Leeton) 33/34 = 67. In the men’s divisions Dale Rogers (Murray Downs) took out the “younger section” with 36/38 = 74 points from Doug Grant (Murray Downs) 34/36 = 70. The “middle aged” section went to Rob Merrett (Murray Downs) with scores of 35/36 – 71, ahead of David McFarland (Murray Downs) 35/35 = 70. In the more “senior” section Ned Klemm from Riverside/Mildura was the best with 40/37 = 77, from Russell Davies (Forbes) 31/40 = 71.
The annual LH Hooker “Summer Cup” was run over the 1st three months of the year, which saw Craig Mathieson compile three consistent rounds of golf, scoring rounds of 43/33/37 to total 113 points, to claim the Summer Cup by one point ahead of Matthew Collins 38/39/35 = 112.
The 2025 Anniversary Cup was taken out by Mark Warren with 69 nett, ahead of Sebastian Parseghian on 70 nett.
Our “Golf on the Murray” qualifying round (4BBB Stableford) was taken out by Dean Farrell and Allan Spencer with 48 points, next was Malcolm Seton-Stewart and Graeme Cox on 47 c/b, followed by Chris & Rodney Merritt 47 and Mathew Quaife & Jack Cornelissen 47. The top two pairs will represent
Murray Downs in the final, later in the year.
While all these tournaments were being held, we also had a team competing in the WRDGA Summer pennant. They came home from the trip to Deniliquin, very pleased with them-selves, after defeating Rich River in the Grand Final.
Our next major tournament on the calendar is the 58th running
of the Golden Putter over the last weekend in June. This very popular tournament, which is filling fast, always attracts many visitors from near and far. Entry is available through the www.mitournament. com app.
Until next time, good golfing,
Mick Kiley Men’s Captain
Committee members are Pam Austerberry Captain, Suzanne Napier Vice Captain, Colleen Roberts Secretary, Anne Webb, Maralyn Morrison, Lynne Lawry, Carolyn Zambelli, Lisa Brady and Val Hedwards. One of our aims this year was to provide an opportunity for working women to try golf. During March we held ‘Come and Try’ sessions. The immediate response was 45 names, a strong indication that this format and time slot could be a real opportunity to increase our women membership.
During the season we celebrated with our winners and also with all our participants. Congratulations to our Champions and also to our Annual Event Winners.
During the year we have enjoyed the generosity of the following businesses in sponsored events on Wednesdays and major tournaments. Rutherford St Insurance, Kennedy’s Jewellers, Holts Mitsubishi, Isuzu Ute, LJ Hooker, Mildura Health Day, Cameron’s Jewellers, Swan Hill Disposals and Outdoor Store. Many thanks to these sponsors.
Champions of the Murray:
The final was played at Barham – Suzanne Napier and Janette Tucker and Sarah Clarke and Paula Pickert won their way to the final. Congratulations to these players for representing our club.
Women’s Captain GOLF
On behalf of the Murray Downs Women’s golf Committee, I present the 2024-2025 report. Women’s golf is strengthened by a strong and supportive committee, willing to embrace change while ensuring that our members enjoy and continue to participate in golf.
Champions and Annual Event Winners of 2024.
Club & A Grade Champion
B Grade Champion
C Grade Champion
D Grade Champion
Senior Champion
Jess Petzke Memorial Trophy
Golfer of the Year
Donnington Cup
Medal of Medallists
Singles Knockout
Doubles Knockout
Putter of the Year
Anniversary Cup
Saturday Star
Spring Brooch
On the 29th May we played Holts Mitsubishi Hyundai Isuzu Ute golf day.
A great field of 75 women played 4 person Ambrose – a nice format after 3 rounds of stroke. Winners of the day were Dianne Martin, Kathy Parkinson, Nonie Domaille and Maryanne Davis with 58.875, 2nd place was Colleen Roberts, Pam Austerberry, Tracey Hooper, Mag Kiley with 61.375, 3rd place Suzanne McLellan, Chris Warburton, Kristy Gordon and Susan Davis with 61.75.
A huge thank you to Bev and Trevor Holt from Holts Mitsubishi Hyundai Isuzu Ute for their ongoing sponsorship.
Olive Spitty
Shelley Wilkins
Jenny Lynas
Tamika Hogan
Eileen Willox
Tamika Hogan
Sally Fearn
Rosie Ficarra
Lynne Lawry
Barb Cadd
Mag Kiley and Marg Moore
Suzanne Napier
Kathy Brennan
Kerry Gammon
Janice Krahnert
Mildura Golf Day – Mildura
Health Day was very well supported considering there are so many away. Winners of the 4BBB were Deb Watson and Sally Fearn with 43 points, 2nd Di Atkin and Pam Blohm with 42, 3rd Lisa Brady and Mandy McCallum also 42 and 4th Bev West and Jenice Krahnert.
Camerons Fine Jeweler’s Gold
Link Golf Day - The Camerons Fine Jewellers Golf Day was held on the 21st August, with 26 pairs enjoying the format of 4BBB Aggregate Par in pairs. The winners with +1 were Tamika Hogan and Jenny Lynas, 2nd place Colleen Roberts and Marg Moore -1, 3rd Nonie Domaille
and Kathy Parkinson -1, Thanks to Judy and Andrew Cameron for their ongoing generous sponsorship.
Golden Putter - Winners Vicki Kirby and Stephanie Stephenson from Commercial Club Albu-ry +11, 2nd Carolyn Zambelli and Jan Butcher +9, 3rd Lynne Bishop and Shelley Wilkins +7.
Silver Putter results were big wins to our locals – 1st – Robyn Bett and Julie Overall 49 points, 2nd – Melita Sartori and Belinda Gardner 45 points, 3rd – Lynne Bishop and Barb Cadd 45 points.
Classic Ladies TournamentThe annual Classic took place on the 2nd – 4th Oct. Numbers were slightly down this year but it was a very successful 3 days. Congratulations to Jo Watts who again took out the Murray Downs Amateur Champion from Lynnette Rose of Rosanna.
Wednesday Stableford - A Grade -1st Paula Pickert, 2nd Lynne Smith 3rd Lisa Garioch, 4th Anne Harris, B Grade – 1st Eunice Chan-Healey, 2nd Alison Gibson, 3rd Pam Austerberry, 4th Sandra Briggs C Grade –1st Tamika Hogan, 2nd Karyn Sanders, 3rd Kerry McDonald, 4th Janine Gavin
Thursday Stroke A Grade Net - 1st Kerry Peterson 2nd Rachel Brydon, B Grade Net - 1st Pam Austerberry 2nd Tracey Cuff, C Grade Net – 1st Lisa Roberts 2nd Karen Dillon
Gross Grade A -1st Jo Watts, 2nd Lynette Rose, Gross B Grade 1st Eunice Chan-Healey, 2ndJenny Waterson, Gross C Grade 1st Kerri Lynch, 2nd Karen Rees,
Friday 4BBB - 1 Jo Watts & Karen Rees 48, 2 Jenny Lynas & Tamika Hogan 46, 3 Robyn Tucker & Angela Cordell 45
Bailey Ag Australia Opening Day – Congratulations to Suzanne Napier and Janette Tucker, winning the ladies Bailey Ag New Years Ambrose in pairs with a score of 69.75 and runners
up Janelle Hogan and Mag Kiley on a countback from visitors, Tania Dignan and Fiona Boswell, with 71.5. 14 pairs of women and 59 pair of men played making it a very successful day.
Rutherford St Insurance
Opening Day – Rutherford St Insurance Open Day 5th March – 120 players booked, 117 played in 2 events, Golfers and Novice teams.
Golfing team winners Colleen Roberts, Tracey Hooper, Judi Lonergan and Marg Moore with 62.25. 2nd Belinda Gardner, Melita Sartori, Gemma Gardner and Judi Simmonds with 63.125. The Novice event was won by Courtney Docking, Kristy Summerhayes and Jo Watts with 59.667 edging out the runners up Lisa Brady, Maree Thurwood, Mandy McCallum and Bianca Brasser with 59.875. The Straightest Drive was Leanne Button and the Longest Drive was Pam Austerberry.
Kennedy’s Jewellers Faye
Ayson Pink Day – PINK DAY sponsored by Rosie and Tori Ficar-ra of Kennedys Fine Jewellers and the Pink ball competition sponsored by Linda and Andrew Ayson of Home Coach. Winners of the main event was the team of Mandy Amezdroz, Jenny Monahan, Tracy Hooper and Rhonda Barrow. Second place was Therese McLennan, Sue-Anne Beattie, Beth Thompson and Gill Fawcett. Third place Suzanne Napier,
Val Hedwards, Marg Moore and Chris Warburton. The Pink Ball team winners were Paula Pickert, Lois Car-nie, Kristy Gordon and Virginia Allen with second place going to Jenice Krahnert, Tina King, Ruth McAlister and Laurel Dewhurst. The birdies nest on 12 was taken out by Lois Carnie.
LJ Hooker Golf Day – 30 pairs competed in a 4BBB in April 2025. Winners were Cath Darby and Mandy Amezdroz with runner up Rhonda Barrow and Jan McEwan.
Challenge Cup – this competition between Deniliquin, Barham, Rich River and Murray Downs is played for 6 weeks during February and March each year. It is a match play format in pairs and all players are encouraged to join the team. The Murray Downs team did very well this year, finishing 3rd.
A huge thank you to Blaede Hawkins and the wonderful staff in the Pro Shop, also to Casey and the other club staff and to Paul and his team for maintaining our beautiful course. We would also like to extend a huge welcome to our new CEO, Mark Parry.
Thank you to the Murray Downs Women golfers who have been very supportive of me in the role of Captain and who make our club a fabulous club.
Pam Austerberry Women’s Captain
Congratulations to Division 1 and Division 3 winning their Saturday Pennant Grand Finals (Division 1 – 4 in a row), also congratulations to Division 1 and Division 2 winning the Midweek Pennant Grand Finals (Division 1 – Team 1, 3 in a row), fantastic results for the Murray Downs Bowls Club, representing the MDGCC.
Our Midweek then went onto represent the Murray Valley playing area at the Regionals in Mildura against Irymple, Barham and Woomelang. Murray Downs defeated all opposition clubs to win the championship and now represent the Murray Mallee region at Moama (28th/29th April) playing off in the State’s last 16 in Victoria.
The Men’s 4’s team of Josh Thornton, Buc Lehmann, John Caldwell and Shorty McCaig made it through the State play offs at Bendigo East (3rd April, 2025) only to be defeated by Ocean Grove on the last bowl on the final end.
Once again, we represented the Swan Hill RSL at the Edinburgh Shield at Deniliquin on the 5th/6th April and we finished second only 4 shots off winning (13 players from Murray Downs, 2 players from Lake Boga and 1 player from Culgoa), thanks to Greg Whitla
Chairperson BOWLS
It is with great pleasure that I present my chairpersons report for season 2024/25 on behalf of the Murray Downs Bowls Club.
for all his organising of the weekend.
On behalf of the Murray Downs Bowlers, we once again thank our greenkeeper (Graeme Cox) for presenting the best greens in our playing region.
The night bowls competition ran from the 11th February 2025 to 15th April (10 weeks) and 60 plus players enjoyed the season. The eventual winners being “Macer”, team members Mick Holly, Luke and Amon Roberts, thank you to all the volunteers.
Thank you to all the members who over the 2024/25 Season have volunteered their personal time on our committees to ensure the success of our bowling club.
Thank you to all our valued sponsors who kindly sponsored our Saturday Pennant, Tournaments and social function raffles, much appreciated. The following is a list of our sponsors, so members please support them when possible.
Leigh Beddgood Automotive, Mid Murray Chiropractic, Doey’s Meats, Harvey Norman, Classic Fish Shop & Take Away, Steve’s Fish & Fillet, Boo’s Café & Providore, Murray Downs Golf & Country Club, Bakker & Glen, Jane Eliza Motor
Inn, Worklocker and Wealth Architect.
Without the generosity of our sponsors, it would be difficult to survive. A big thank you to our national accredited umpires Cecilia McCaig, Elaine Lawry and Dave Griffin who volunteered their time to umpire throughout the 2024/25 season.
In season 2024/25 a new league (Northern Valley) was formed with 4 clubs from the Northern District (Barham, Cohuna Golf, Kerang, Kerang Golf) and 2 teams from Murray Valley (Murray Downs, Racecourse). This was accepted with mixed reactions, but I know that all players who participated in the league thought it was brilliant.
Our 2 fundraising events for season 24/25 were very well received by both organisations, firstly we raised $250 for the “Good Kitchen” and the 2nd fundraiser, we raised $1000 for the Swan Hill District Health MRI Appeal. Thank you to all who assisted.
Once again, the season has been challenging on and off the greens for some of our members and families.
A big thank you to MDGCC CEO Mark Parry and his staff members for another fantastic year of amazing support to our
Congratulations to all players who participated in our Club Championships for season 24/25
Award Winner
Men’s Club Championships
Ladies Club Champion
Men’s B Grade Champion
Ladies B Grade Champion
Men’s 100 Up Champion
Ladies 100 Up Champion
Mixed Pairs Champions
Men’s Pairs Champions
Ladies Pairs Champions
Buc Lehmann
Judy Wilson
Dave Griffin
Cecilia McCaig
Kerry Power
Josie Boyd
Kerry Power/Cath Parry
Darryl Barry/Les McPhee
Mardene DeVilliers/Dawne Holland
Runners Up
Garry McCaig
Dawn Deighton
Kerry Power
Mardene DeVilliers
Peter Furnell
Dawne Holland
Buc Lehmann/Josie Boyd
Ray Halligan/Ken O’Bree
Cecilia McCaig/Elaine Lawry
magnificent bowls club.
Buc Lehmann (A Grade Singles) and Josh Thornton (Champion of Champions) played in the Murray Mallee Region Playoff’s in March and represented our club with distinction, playing some excellent bowls.
In closing, after 5 years as your chairperson of our great bowls club, I would like to thank all our members for their support and hope that the members who are elected for upcoming committees for season 25/26 give the same support to the incoming chairperson Dave
Griffin. I know he will, along with his new committee, will do an excellent job.
“Go Rams”
Garry “Shorty” McCaig Murray Downs Bowls Club
THE CLUB IS IN A VERY STRONG FINANCIAL POSITION WITH CASH RESERVED IN EXCESS OF $4.5M AND ALL COMMITMENTS PAID ON TIME
I am pleased to present the Treasurer’s Report for the Murray Downs Golf and Country Club Limited for the year ending on the 31st December 2024. I present a summary of the financial reports for the financial year, and full details can be obtained from the financial statements and attached notes included in the Annual Report.
The net profit for the year ended 31st December 2024 was $116,519 compared with a net profit of $514,324 for the previous year. However, the profit of $116,519 was impacted by the write off of various items of a capital nature, totalling $214,991, which had accumulated during several previous years. The net profit from the current year’s operations was $331,510 compared to $514,324 for the previous year. This was after allowing for depreciation and amortization of fixed assets of $1,218,236 ($1,242,060 previous year).
Revenue for the year was $16,395,546 ($15,374,099) and expenses were $16,064,036 ($14,859,775). The net value of the club’s assets increased from $18,836,524 to $18,953,043. The Club is in a very strong financial position with cash reserves in excess of $4,500,000, and all financial commitments able to be paid on time.
TreasurerFROM THE
I have the pleasure in presenting the financial reports of the Murray Downs Golf and Country Club Limited for the year ending 31st December 2023.
It had been planned that necessary renovations to both Murray Downs and the Swan Hill Club would have been started by now. However, uncertainty as to proposed poker machine legislation in Victoria has stalled the renovations to the Swan Hill Club. One thing we can be certain of is the fact, the longer we wait, the more it will cost. Hopefully, you will be able to see action in the very near future.
Our current financial position is the result of good management by the Board and our previous CEO, Greg Roberts. Greg’s contribution during Covid, his ability to control spending, and his ability to access Government Grants were major contributions to our financial position. Greg was also responsible for Murray Downs hosting the 2024 Men’s Open Championship which received extensive publicity that
made Murray Downs known to the golfing world. Thank you, Greg, for your 17+ years at Murray Downs and all you achieved during that time.
I would also thank my fellow Board members for their commitment, and many hours spent helping to make our club successful.
I welcome our new CEO, Mark Parry, who has many years’ experience in the club industry, and I look forward to working with him.
Finally, I would like to thank our members for their continued support which will ensure our continued success.
Bill Gurnett Treasurer
Directors’ Report
For the year ended 31 December 2024
Your directors present the financial statements of the Murray Downs Golf & Country Club Limited (the Company) for the year ended 31 December 2024.
Directors
The names of the directors in office at any time during or since the end of the financial year are:
Colin Hedwards – President Board Member since 26 June 1992
President 4 years
Retired Area Manager Tasco
Petroleum Bus Owner Operator
Gary Slater – Honorary Secretary Board Member since 28 June 1991
Retired School Principal
Craig Fletcher Board Member since 24 May 2022
Business Owner
Ben Smith
Appointed 21 May 2024
General Manager
Ashley Free – Vice President Board Member since 23 May 2017
Vice President 2 years
Honorary Treasurer 2 years
Finance Manager Swan Hill Rural City Council
Diane Martin
Board Member since 24 May 2011
Retired Retail Business Owner
Brian White Board Member since 24 May 2022
Project Manager
William Gurnett – Treasurer Director since 30 September 1987
President 26 years until 2018
Retired CPA Accountant, Partner at GMG Accounting for 49 years.
Ian Read Board Member since 24 May 2022
Retired Business Owner
Sarah Clark Board Member since 25 October 2022
Resigned 21 May 2024
School Teacher
Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.
Company secretary
The Company’s secretary was Mr Gregory Roberts, who was appointed on 23 March 2009. Mr Roberts was the Company’s Chief Executive Officer until his resignation on 17 December 2024.
Principal activities
The principal activities of the Company during the year were promotion and conduct of golf and bowls for the purpose of promoting these sports and club amenities.
Short term and long-term objectives
The Club’s short-term objectives are to provide for members and members’ guests a sporting and social facility with all the usual facilities of a Club with excell ent service in a comfortable and safe environment. To promote and conduct the game of golf and bowls and other sports, games, amusements and entertainment as the Club may deem expedient.
In the long term, the Club’s objectives include replacement and enhancement of key strategic assets and the long term financial and operational viability throu gh sound improvements to the organisation’s operations.
To achieve these objectives, the company has adopted the following strategies:
To encourage and promote the participation in golf and bowls and community activities.
To increase awareness of the Club and its facilities through effective marketing and communication.
To continue to reinvest in the products and facilities to ensure the provision of a quality experience for members and members guests.
Murray Downs Golf & Country Club Limited
Directors’ Report
For the year ended 31 December 2024
Auditors’ Independence Declaration
As lead auditor for the audit of Murray Downs Golf & Country Club Ltd for the year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been:
a.) No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
b.) No contraventions of any applicable code of professional conduct in relation to the audit.
Stephen Clarke Albury Director
27 March 2025
For the year ended 31 December 2024
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.
As at 31 December 2024
2,904,097
The above statement of financial position should be read in conjunction with the accompanying notes.
For the year ended 31 December 2024
The above statement of changes in equity should be read in conjunction with the accompanying notes.
For the year ended 31 December 2024
Flows from Investing Activities
(213,480)
(698,495) Cash
Increase/(Decrease) in Cash Held (164,822) 688,651
5,120,263 4,431,612
at the End of
4 4,955,441 5,120,263 The above statement of cash flows should be read in conjunction with the accompanying notes.
Notes to and forming part of the financial statements
For the year ended 31 December 2024
Note 1. Summary of material accounting policies
The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards – Simplified Disclo sure Requirements of the Australian Accounting Standards Board (AASB) and the Corporations Act 2001. The company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards.
Basis of preparation
The principal accounting policies adopted in the pr esentation of the financial statements are set out below. These policies have been consistently applied to both years presented, unless otherwise stated.
Under Australian Accounting Standards, there are requirements that apply specifically to not-for-profit entities that are not consistent with International Reporting Standards (IFRS) requirements. The company has analysed its purpose, objectives and operating philosophy and determined that it does not have profit generation as a prime objective. Consequently, where appropriate the Company has elected to apply options and exemptions within the accounting standards which are applicable to not-for-profit entities. Comparative information has been reclassified where appropriate to enhance comparability.
(a) Revenue
All revenue is stated net of the amount of goods and services tax (GST).
(i) Sale of goods and services
Revenue from the sale of food, beverages and other goods is recognised at the point in time the goods are delivered to the customers.
Revenue from gaming and other services is recognised at the point in time the service is delivered to the customers.
(ii) Membership revenue
Membership revenue is recognised over time as the performance obligation to deliver member services are satisfied, which are expected to occur over a period of 1 to 3 years. Subscriptions received where the performance obligation remains unsatisfied are brought to account as a liability (refer note 11 & 15).
(iii) Interest
Interest revenue is recognised on an accrual basis taking into account applicable interest rates.
(b) Income Tax
Murray Downs Golf & Country Club Limited is exempt from income tax under section 50-45 of the Income Tax Assessment Act 1997.
(c) Property, Plant & Equipment
All property, plant and equipment are stated at cost less depreciation and impairment losses. Cost is measured as the fair value of the assets given up, liabilities undertaken at the date of acquisition p lus incidental costs directly attributable to the acquisition. The purchase method of accounting is used for all acquisitions of assets.
All depreciation is calculated using straight line or diminishing value methods, depending on when the financial benefits of an asset will be derived, to write off the net cost of each item of property, plant and equipment (excluding freehold land) over its expected useful life to the Company. The expected useful lives are as follows:
Buildings
10-40 years
Plant and equipment 4-10 years
Gaming machines 4 years
Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These are included in the statement of profit and loss and comprehensive income.
Murray Downs Golf & Country Club Limited
For the year ended 31 December 2024
Note 1. Summary of material accounting policies
(d) Cash and Cash Equivalents
Cash and cash equivalents includes cash on hand an d other short term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash which are subject to an insignificant risk of changes in value.
(e) Employee Entitlements
(i) Wages and salaries
Liabilities for wages and salaries are recognised and measured as the amount unpaid at the reporting date at current wage rates in respect of employees’ service up to that date.
(ii) Annual leave
Liabilities for annual leave are recognised and are measured as the amount unpaid at the reporting date at pay rates expected to apply when the obligation is settled in respect of employees’ services up to that date, including on-costs. All annual leave balances are classified as a current liability.
(iii) Long service leave
Long service leave entitlements payable are assessed at balance date having regard to expected employee remuneration rates on settlement, employment related on-costs and other factors including accumulated years of employment, on settlement, and experience of employee departure per year of service. All long service leave which the Company does not have an unconditional right to defer settlement of the liability for at least twelve months after reporting date is disclosed as a current liability and is measured at nominal value based on the amount expected to be paid when settled. Long service leave expected to be paid later than one year has been measured at the present value of the estimated future cash outflows to be made for these accrued entitlements. Commonwealth bond rates are used for discounting future cash outflows.
(f) Trade and Other Payables
These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year and which are unpaid. These amounts are unsecured and usually paid within 30 days of recognition.
(g) Intangible Assets
Goodwill
Goodwill is initially recorded at the amount at which the purchase price for a business exceeds the fair value attributed to its net assets at the date of acquisition. Goodwill is tested annually for impairment and carried at cost less any accumulated impairment losses.
Water Licences
The permanent water entitlement is recognised at cost. The license has an indefinite life but is reviewed annually for indicators of impairment in accordance with note 1(j).
Gaming Machine Licences
Victorian gaming machine entitlements that were acquired through the Victorian Commission for Gambling and Liquor Regulations are subject to a 10 year license, which will need to be renewed prior to the existing licensing period expiring. The cost of the entitlements are being amortised over the term of the license (10 years). NSW gaming machine entitlements were initially acquired at no cost and then subsequently recognised at their fair value based on an independent valuation performed by CB Richard Ellis on 31 December 2005. The basis of the valuation was market value.
Notes to and forming part of the financial statements
For the year ended 31 December 2024
Note 1. Summary of material accounting policies
(h) Impairment of Assets
Assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment or more frequently if events or changes in circumstances indicate that they might be impaired. Assets that are subject to amortisation 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 cost to sell and value in use.
(i) Critical Accounting Estimates
The directors evaluate estimates and judgements incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data obtained both internally and externally.
Key Estimates
The company assesses impairment at each reporting date by evaluating conditions specific to the company that may lead to impairment. Where evidence of impairment exists, the recoverable amount of the asset is determined. The value-in-use calculations performed in assessing recoverable amounts incorporate several estimates.
(j) Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables in the statement of financial position are shown inclusive of GST.
(k) Leases
The Company assesses whether a contract contains a lease at the inception of the contract. The Company recognises a right-of-use asset and a corresponding lease liability in respect to all lease arrangements in which it is the lessee, except for short term leases (leases with a term of less than 12 months) and leases of low value assets (less than $10,000). For these leases the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease.
The lease liability is initially measured at the net present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease. If this rate cannot be readily determined, the company uses its incremental borrowing rate.
The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement date and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment loss. Right-of-use assets are depreciated over the shorter period of the lease term and the useful life of the asset.
(l) New Accounting Standards and interpretations
A number of Australian Accounting Standards have been issued or amended since the last reporting period. The directors have assessed the impact of these amendments and determined they do not have a material impact on the financial statements.
For the year ended 31 December 2024
Note 2. Revenue
Timing of
Note 3. Profit
Net gains and expenses
For the year ended 31 December 2024
Note 4. Current assets – Cash and Cash Equivalents
Note 5. Current assets – Trade and Other Receivables
Note 6. Current assets – Inventories
Note 7. Current assets – Other
Note 8. Non-current assets – Property, Plant and Equipment
For the year ended 31 December 2024
Note 8. Non-current assets – Property, Plant and Equipment (continued)
Note 9. Non-current assets – Intangible Assets
Note
10. Non-current assets – Right of Use Assets
Movements in carrying amounts: Type 4 Poker Machines
For the year ended 31 December 2024
Note 11. Current liabilities – Trade and Other Payables
Note 12. Current liabilities – Borrowings
(i) NAB business loans are secured by:
- First ranking registered fixed and floating charge over all present and future rights, property and undertakings of Murray Downs Golf & Country Club Ltd
- First ranking mortgage over property situated at Murray Downs Drive
- First ranking mortgage over water entitlements in the name of Murray Downs Golf & Country Club Ltd.
Note 13. Current liabilities – Lease Liabilities
Note 14. Current liabilities – Provisions
Note 15. Non-current liabilities – Trade and Other Payables
Note 16. Non-current liabilities – Lease Liabilities
Refer note 13.
For the year ended 31 December 2024
Note 18. Related party transactions
(a) Key Management Personnel
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the company either directly or indirectly. The key management personnel of the company comprise the directors and executives who are responsible for the financial and operational management of the company. Compensation paid to key management personnel of the company was as follows:
(b) Transactions with related parties
There were no transactions with related parties during 2024 (2023: Nil).
Note 19. Financing Arrangements
Note 20. Financial Risk Management
The company’s financial instruments consist mainly of deposits with banks, accounts receivable and payable, and leases. The totals for each category of financial instruments, measured in accordance with AASB 9 as detailed in the accounting policies to these financial statements, are as follows: (
For the year ended 31 December 2024
Note 22. Commitments
Note 23. Contingent Assets & Liabilities
There are no contingent liabilities or assets at year end.
Note 24.
Events Occurring after Reporting Date
There have been no other significant events occurring after reporting date likely to impact the future affairs of the company.
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Independent auditor’s report to the members of Murray Down Golf & Country Club Limited
Opinion
We have audited the financial statements, being general purpose financial statements – simplified disclosure, of Murray Downs Golf & Country Club Limited, which comprises the statement of financial position at 31 December 2024, and the statement of profit and loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, notes to the financial statements, including a summary of accounting policies and other explanatory notes and the directors’ declaration.
In our opinion, except for the matter described in the Basis of Qualified Opinion section of our report, the accompanying financial statements of Murray Downs Golf & Country Club Limited are in accordance with the Corporations Act 2001, including:
a) giving a true and fair view of the Company’s financial position as of 31 December 2024 and of its performance for the year ended on that date; and b) complying with Australian Accounting Standards – simplified disclosure and the Corporations Regulations 2001.
Basis for Qualified Auditor’s Opinion
As disclosed in note 1(j) and note 9 of the financial statements, the Company has recognised NSW gaming machine entitlements initially acquired at no cost, at their fair value based on an independent revaluation undertaken on 31 December 2005 using a market value approach.
Australian Accounting Standard AASB 138: Intangible Assets provides that for not-for-profit entities where an asset is acquired at no cost, the cost is its fair value at the date of acquisition. Further, subsequent to initial recognition intangible assets may be carried using the cost model or the revaluation model. If an entity elects to fair value its assets, fair value shall be determined by reference to an active market. If there is no active market the accounting standard states that the asset shall be carried at its cost less any accumulated amortisation and impairment losses.
In our opinion there is no active market for NSW gaming machine entitlements and accordingly the Company has not complied with the accounting standard. In our opinion this departure from the requirements of the accounting standard has resulted in an overstatement of both the company’s intangible assets and asset revaluation reserve by $921,375.
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under th ose standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial statements in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independent auditor’s report to the members (continued)
Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation of the financial statements that gives a true and fair view in accordance with Australian Accounting Standards – simplified disclosure and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial statements that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are 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 level of assurance but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The financial statements have been prepared for distribution to members for the purpose of fulfilling the director’s financial reporting requirements under the Corporations Act 2001. We disclaim any assumption of responsibility for any reliance on this report or on the financial statements to which it relates to any person other than the members, or for any purpose other than that for which it was prepared.
A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/Home.aspx. This description forms part of our auditor’s report.
Stephen
Clarke Albury Director 28 March 2024
