ANNUAL REPORT
2023
TABLE OF
CONTENTS
Notice of Annual General Meeting
01
Life Members
02
President’s Report
03
Chief Executive Officer’s Report
04
Rugby League Manager’s Report
06
Rugby League Administrator’s Report
08
Board of Directors
10
Saints Cares Report
11
Notice of Ordinary Resolutions
12
Notice of Special Resolution
14
Core & Non-core Property
18
Directors’ Report & Financials
19
Auditor’s Independence Declaration
22
2023 Sponsors
44
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
NOTICE OF ANNUAL
GENERAL MEETING Notice is given that the next Annual General Meeting of St Marys Rugby League Club Ltd will be held on Sunday 26th November 2023, commencing at 10am in the Boronia Showroom at the premises of the Club at the Corner of Forrester & Boronia Roads, St Marys.
ELIGIBILITY Life Members, Financial Football Members and Financial Supporting Members have the right to vote on all Ordinary Resolutions proposed at the meeting. Financial Associate Members are only entitled to vote on the three Ordinary Resolutions proposed in relation to honorariums and Director fees.
BUSINESS
In order to be passed, any ordinary resolution must receive votes in favour from not less than 50% + one of the eligible members who cast a valid vote in person at the meeting.
1. Opening 2. Attendance & quorum 3. Apologies 4. Receipt of the minutes of the previous Annual General Meeting held Sunday 27th November 2022.
Only Life Members and Financial Football Members are entitled to vote on the Special Resolution which proposes amendments to the Club’s Constitution.
5. Receipt and consideration of the Club’s Financial Report, the Directors’ Report and the Auditor’s Report for the year ended 30 June 2023.
In order to be passed, a special resolution must receive votes from not less than 75% of the eligible members who cast a valid vote in person at the meeting.
6. Ordinary Resolutions: To consider and if thought fit, pass with or without modification, each of the nine proposed resolutions which are set out on pages 12 to 13 of this notice.
Staff Members are not entitled to vote at the meeting.
7. S pecial Resolution: To consider and if thought fit pass the proposed Special Resolution as set out on pages 14 to 17. 8. General Business
The Registered Clubs Act prohibits proxy voting. It is a legal requirement that no resolution may be proposed at the meeting that is not already listed in the notice of meeting. Notice of the meeting has been given to the Club’s Auditor, who is entitled to attend. By authority of the Board
NOTICE OF QUESTIONS OR REQUESTS FOR DETAILS Members who wish to raise any queries or seek any information, including questions in relation to the accounts or reports or specific legislative or financial matters, are asked to provide written notice of the question to the office of the Chief Executive Officer at least 14 days prior to the meeting, so that answers may be researched, if required.
ROD DESBOROUGH Secretary and Chief Executive Officer 30 September 2023
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
01
02 2 WARREN SMITH OAM
GARY SULLIVAN
RON COSKERIE
DAVID CARTWRIGHT
KEIRAN BABBAGE
JOHN BURNS
STEWART JEFFERY
LAURIE ELDRIDGE
DAVID CURREY
MICHAEL HILTON
LANCE KNELLER
LIN FALCONER
MERV SMART
DOUG FALCONER
GRAEME DELANOUE
TONY MITCHELL
TONY DICKER
BILL WEBSTER
LIFE
MEMBERS
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
PRESIDENT’S REPORT
Key development strategies such as the Holiday Inn Sydney St Marys, and the Western Foyer and Saints Event Centre have proven to be very successful in aiding our ability to propagate the game and attract sporting events. During the 2022/2023 year over 80 external rugby league and sporting events were held at St Marys Rugby League Club. Furthermore, over 100 rugby league games were played at the St Marys Leagues Stadium. Whilst we continue to enjoy the success of these developments, I would like to assure the Members that as a Board and a Club we have not and will not rest on our laurels. A Strategic Planning Session will be held in October 2023 to determine the short and long term needs of our Members and the community, and to discuss new strategies that will further enhance and support our mission.
It is the Club’s mission to “Propagate the game of rugby league and make a significant difference to the social and economic wellbeing of our community”. I am very proud to report that we remain true to that mission, and that the Club achieved another year of financial success and consolidation. Congratulations to CEO, Rod Desborough, his Management team, and all staff on the excellent results achieved. Rugby league is the reason that this great club was established, and our commitment to propagating the game is unwavering. In 2023 over 1,000 players of all ages donned the mighty green and white jersey in what was an outstanding season for Saints. The Ron Massey Cup, Sydney Shield and Open Men’s sides all entered the finals as Minor Premiers, and for the first time in the Club’s history Saints claimed the NSW Rugby League Ron Massey Cup Premiership.
The Constitution of the St Marys Rugby League Club Ltd clearly states the reasons for which the Club was established and key legislation that governs the way in which we operate. At this year’s AGM, the Members will be asked to consider and if thought fit, pass a Special Resolution to amend the Constitution. It is important to note that the Special Resolution in no way changes the integrity or intent of the Constitution, but rather proposes a series of amendments to bring it into line with best practice, and the requirements of the Corporations Act, Liquor Act and Registered Clubs Act. The Board unanimously support the resolution which is explained in detail on the following pages. As I enter my thirty-eighth year as a very proud Director of this great Club and as President of the Board, I would like to thank the Members for the loyalty and faith that they have shown myself and my fellow Board of Directors. It is an absolute honour to serve the Members, and to contribute to the great game of rugby league, our Club, and the community.
WARREN SMITH OAM President
I would like to thank and congratulate all Saints players, volunteers, parents and supporters on a truly remarkable year. Special mention and thanks must go to Peter Bowler (Junior League President), Janelle Borg (Secretary), Adam Przybyla (Rugby League Manager), and Katina Geale (Acting Rugby League Administrator) for leading our rugby league operations and ensuring that our proud reputation as a highly successful and professional rugby league club was upheld. Further information on Saints historic on-field success is outlined in the following pages and rugby league reports. The Under 13’s annual tour has been an important part of our rugby league program for over 20 years, and like a lot of the Club’s programs the tour provides valuable lessons that stretch far beyond the field. Pleasingly, after a two-year COVID-19 related hiatus, the tour resumed in September 2022 with the side taking part in a seven day adventure to Cairns, and a tough but victorious game of rugby league. The Board resolved to hold reunions for the Saints rugby league fraternity every two years to ensure that the great culture and longstanding history that is Saints is instilled in future generations and never lost. On Saturday 17th June 2023, over 250 players and officials, both current and former, came together to celebrate an incredible 115 years of rugby league in St Marys, and to pay tribute to our pioneers. It was fantastic to see various generations of Saints reliving tries and tackles and sharing great tales over a few ales.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
03
CHIEF EXECUTIVE OFFICER’S REPORT
Stage one involves the installation of 450kw solar panels on the Club’s existing roof structure. Stage two will comprise of solar structures being built over the Club’s car park, providing 225 covered parking spaces and 700kw of solar energy. Collectively, these two systems will generate sufficient energy to power the entire Club during daylight hours. Stage one works have commenced and will be functional prior to Christmas. Stage two will commence early 2024 and take approximately three months to complete. The Club’s VISION and commitment to being an integral part of the community and bringing people together is achieved through multiple avenues, including our core object which is to propagate the game of rugby league. Over the last twelve months the Club has been vigorous in achieving that VISION, and in propagating the game. I encourage all Members to read the Rugby League Manager and Rugby League Administrator reports on the following pages which highlight the strength of our rugby league program and the many player achievements. Thank you and congratulations to Peter Bowler (Junior League President), Janelle Borg (Secretary), and all players, coaches, managers, trainers, and volunteers on another excellent year. You have all made us “Saintsationally” proud! It gives me great pleasure to present to the Members my CEO Report in what was an historic year for St Marys Rugby League Club. In November 2022 we celebrated our 40th anniversary, and the opening of the $25 million Western Foyer and Saints Event Centre Development. With four decades of operation under our belt, and following a year of substantial financial consolidation, I am delighted to announce that the Club remains in a strong financial position with a reported trading surplus of $4,275,112 for the 2022/2023 year. The St Marys Rugby League Club Business Plan notes a core VISION of the Club as “being an integral part of the community, by bringing people together and meeting the needs and expectations of the community.” The Board continually monitors Member and community expectations to ensure that they are reflected in the Club’s operations. To that end, over the last twelve months, the Board focused on two key priorities: •
The Responsible Conduct of Gaming; and
•
Developing an Environmental Sustainability Strategy.
Gaming Reform has been a primary concern of the NSW Government in recent times. The Board and Management are committed to providing a positive and safe gaming experience and reinforced their strong stance with the adoption of the ClubsNSW Gaming Code of Practice, and the Club’s Responsible Gaming Policy Statement. The Code focuses on the responsible conduct of gaming and a genuine commitment to harm minimisation. The Code requires Directors, Management, and Staff to undertake various training modules additional to the regulatory RCG training. The Statement details the practices, rules, responsibilities, and minimum standards for the responsible conduct of gaming, and the reasonable measures taken to prevent Anti-Money Laundering and Counter-Terrorism Financing. We know that environmental sustainability is as important to you as it is to us, and that’s why the Board adopted a strategy to measure, manage and reduce the Club’s impact on the environment. The strategy includes a $6 million investment into solar energy, with benefits to Members, the environment, and Club operations.
04
The Club’s business partners play an integral role in our operations. Michael Lau delivers quality food and catering services to: Saints Sports Bar, Waterstone Grill Restaurant, Signatures Buffet Restaurant, and Saints Event Centre via Signatures Catering. Amgad Botros delivers essential child and family services via Go Bananas Early Learning Centre and Go Bananas Family Entertainment Centre. These two gentlemen, their businesses and staff significantly contribute to the services offered to our Members and the Community, and the Club’s success. The Management team and I greatly appreciate the support, trust and confidence afforded by Club President, Warren Smith OAM, and the Board of Directors. That support is fundamental to achieving the Board’s objectives and strategies, and the Club’s continuing development and evolution. To my dedicated Management team, whilst the challenges are always present, I trust that this year has allowed you moments of reflection, and time to appreciate your endeavours. Your professionalism, expertise, and experience have led to a remarkable year and played a pivotal role in the immediate triumph of the Western Foyer and Saints Event Centre Development. There are many elements to a successful club, but it is Saints’ exceptional staff delivering service excellence that is the heart of our success. Congratulations and thank you to all staff for your essential contribution. Lastly, I would like to thank the Members for their loyalty and support. The way in which you have embraced developments has been overwhelming, and I know that you are as proud to be a SAINT as I am.
ROD DESBOROUGH Chief Executive Officer
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
“WE KNOW THAT ENVIRONMENTAL SUSTAINABILITY IS AS IMPORTANT TO YOU AS IT IS TO US, AND THAT’S WHY THE BOARD ADOPTED A STRATEGY TO MEASURE, MANAGE AND REDUCE THE CLUB’S IMPACT ON THE ENVIRONMENT. ”
Artist Render
Stage one involves the installation of 450kw solar panels on the Club’s existing roof structure.
Artist Render
Stage two will comprise of solar structures being built over the Club’s car park, providing 225 covered parking spaces and 700kw of solar energy.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
05 5
RUGBY LEAGUE MANAGER’S REPORT
In a remarkable achievement, Grand Final Day featured both our Sydney Shield and Ron Massey Cup teams. The day didn’t start well, with an uncharacteristic display from our Sydney Shield team who went down narrowly to the Hills Bulls 34-30. Our Ron Massey Cup team were on the hunt for redemption as they took on the Wentworthville Magpies for Grand Final glory. It was an explosive and dominate display from our Ron Massey Cup side who at half-time lead 28-6! The team were relentless in the second half and went onto secure the Club’s maiden Ron Massey Cup Premiership defeating Wentworthville 40-10. Congratulations to coach Darren Baker, his staff and the terrific group of young men that represented our Club very proudly.
2023 was another highly successful year for the mighty Saints! Participation was at an all-time high with over 1,000 players registered in 56 teams across all age groups ranging from Under 6’s through to Ron Massey Cup. St Marys Rugby League Club is committed to assisting young SAINTS in developing their talent and skills and providing players with every opportunity to reach their full potential and the highest possible level of rugby league. The Club’s participation in NSW Rugby League’s Major Competitions provides players with that opportunity and a definitive pathway to the NRL. The Club’s excellent female pathway program provides opportunities for females to play and compete from the tender age of Under 6’s through to the Open Womens, which competes in the Sydney Metropolitan Competition. This year, our Ron Massey Cup team welcomed a new head coach in Darren Baker and achieved great success finishing the regular season as undefeated minor premiers. Last year’s premiership winning Sydney Shield Coach, Glenn Jones made a welcome return and with just one loss early in the season he secured his second minor premiership in just two years. In a qualifying final against Penrith Brothers, our Sydney Shield side were at their clinical best and after a convincing win they progressed to their third Sydney Shield Grand Final. The Ron Massey Cup team suffered their first defeat of the season in their qualifying final going down to archrivals Wentworthville 18-12. That loss ignited a fire, and after a thumping 52-0 win over the Glebe Reds we progressed to our fourth Ron Massey Cup Grand Final.
With the Ron Massey Cup title secured, the team entered a new phase of competition known as the NSW Rugby League Presidents Cup. The Presidents Cup competition was created to determine the best semi-professional rugby league team in New South Wales. The competition includes four conferences: Central (Ron Massey Cup), Northern (Newcastle), Southern (Illawarra), and Western (Central West). The St Marys Ron Massey Cup team advanced to the grand final and faced two-time Presidents Cup champions, the Maitland Pickers. It was a highly anticipated contest, but the Pickers proved too strong and earned themselves a third Presidents Cup.
SAINTS RISING STARS A number of Saints have been recognised for their outstanding form during the 2023 season: Bethany To’o Billy Scott
NSWRL Women’s City U17s NSW Men’s State of Origin U19s
Brooke Talataina
NSWRL Women’s City U19s NSW Women’s State of Origin U19s NRLW Debut (Wests Tigers)
Chelsea Makira
NSWRL Women’s City U19s NSW Women’s State of Origin U19s
Ebony Prior
NRLW Debut (Wests Tigers)
Harrison Hassett
Jhett Sydir Litia Fusi
Luke Sommerton
Pauline Piliae-Rasabale
NSW Men’s State of Origin U19s NSWRL Men’s City U16s NSWRL Women’s City U19s NSW Women’s State of Origin U19s NRL Debut (Penrith Panthers) NRLW Debut (Wests Tigers)
Rory Muller
NSWRL Women’s City U17s
Yasmine Baker
NSWRL Women’s City U19s
Rosemarie Beckett
NRLW Debut (Parramatta Eels)
2023 RON MASSEY CUP PREMIERS
06
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Special acknowledgement and congratulations to Jake Tago, Tony Satini, Todd Sapienza, Hayden Bonanno, Steven Tavita, Joe Vaegaau, and Atonio Pelesasa who were all selected for the NSW Men’s City Origin team, and to Jake Butfield who was named the Ron Massey Cup Player of the Year at the NSW Rugby League Brad Fittler Medal Night.
ST MARYS RUGBY LEAGUE CLUB 115 YEAR REUNION On Saturday 17th June 2023 we acknowledged and celebrated 115 years of rugby league with a Saints reunion. The event, which was a huge success, commenced with guests spectating and enjoying an afternoon of rugby league at St Marys Leagues Stadium, and victories over archrivals Penrith Brothers in the Sydney Shield and Ron Massey Cup Competitions. The celebrations then shifted to the Boronia Showroom with over 250 former and current Saints sharing rugby league stories, many great moments and memories. The initiative to hold regular rugby league reunions assists in connecting our aging football community with younger members.
SARAH TOGATUKI ST MARYS RUGBY LEAGUE CLUB FEMALE AMBASSADOR Earlier this year St Marys Rugby League Club announced the appointment of NRLW player Sarah Togatuki as the Club’s official Female Rugby League Ambassador. Sarah holds the importance of the St Marys Saints very close. The family’s association started with brother Rocky Togatuki representing the Club as a junior, followed by Sarah who captained the Saints Harvey Norman Women’s Premiership side. As the Club’s Ambassador, Sarah will perform a number of duties including: •
Promoting the game of rugby league with visits to local schools.
•
Attending training and skill sessions with the Club’s junior sides.
•
Attendance at Club games.
•
Meet and greet sessions for Club members and their families.
•
Special guest appearances at Club functions.
Sarah’s appointment is intended to inspire current and potential female players, and reinforces Saints commitment to propagating the game.
NSW RUGBY LEAGUE CHANGING ROOMS PROGRAM With the assistance of the NSW Rugby League, the Changing Rooms Program was presented to players from Under 11’s to Under 17’s. The Changing Rooms Program is designed to educate and provide support to the NSW Rugby League Community in dealing with mental fitness and wellbeing. Facilitated by NSW Rugby League in partnership with industry accredited presenters on mental health and wellbeing, the program covers: •
What is Mental Fitness and how do you improve it?
•
Depression and Anxiety
•
Self Harm and Suicide Prevention
•
Drug and Alcohol abuse
MINIFIT PROGRAM The “MiniFit” Clinic was again rolled out to all Saints players aged 5-12 years. Led by Anthony Minichiello himself, MiniFit encourages health, fitness and wellbeing amongst kids. The program is aimed at improving the growth and development of children and educating young players on the importance of an active and healthy lifestyle.
SCHOOL RUGBY LEAGUE DEVELOPMENT Propagating the game of rugby league is a core object in the Club’s constitution. In 2023 Saints assisted several schools with their rugby league participation and development programs, providing jerseys, equipment, and resources. St Marys North Public School, Chifley Mt Druitt, Chifley Dunheved, and Chifley College Senior Campus were among those to receive assistance.
DISTRICT RUGBY LEAGUE DEVELOPMENT As part of the Club’s commitment to propagating the game, the Board of Directors allocated a budget to assist other rugby league clubs in the Penrith district with equipment and resources. Clubs to receive funding include: • Colyton Colts Junior Rugby League Football Club received a $2,000 donation towards their rugby league program. •
BELIEVE ACHIEVE PROGRAM The Believe Achieve Program involves senior players holding group training sessions with the Under 6’s, Under 7’s and Under 8’s sides. The mini players are rotated through a number of skills and activities, and upon completion each is presented with a football by the Ron Massey Cup team.
EMERGING FEMALE SAINTS PROGRAM - EFS This development program was implemented in 2021 to further support our female pathway system and to ensure the education and development of aspirational female players. Players are identified through their performances within their specific St Marys teams and assessed on their attitude to training and self-development. The selected players are presented with a range of teachings and development tools to take with them on their rugby league journey and to further advance their position in the game.
UPSKILLIING YOUNG MEN PROGRAM - UYM Introduced in 2023 the UYM program is designed to provide aspirational junior male players with an avenue to obtain specialised training and education through a complete development experience. The program targets players within lower tiered divisions and provides them with the opportunity to enter the performance pathway and develop their rugby league skills.
Saints purchased ‘superhero’ t-shirts for the Western Vikings Junior Rugby League Club’s U6 players for the superhero round.
• Emu Plains Junior Rugby League Football Club received a $2,000 donation towards their rugby league program. •
chofield Crusaders Junior Rugby League Club received over S $2,500 in training equipment.
•
SW Push and Power Rugby League received jerseys for the N six-team competition, and funding for their end of season celebrations.
Saints’ very proud reputation and professional status within the local and wider rugby league communities can be hugely attributed to an exceptional Executive team in Peter Bowler (Junior League President), Janelle Borg (Junior League Secretary) and Dannielle Black (Rugby League Administrator), leading an exceptional group of volunteers. Thank you to those mentioned and to all involved in our rugby league operations for your contribution and commitment to our Club. St Marys Rugby League Club Grounds Manager, Aaron Anger and his team are dedicated to ensuring that all Saints grounds are in peak condition. Aaron and his team provided prime playing surfaces throughout the season, giving Saints the greatest opportunity to prepare and perform. Lastly, I would like to thank the Board of Directors and CEO, Rod Desborough, for their unconditional support and for remaining true to the Club’s core object, to propagate the game of rugby league.
ADAM PRZYBYLA Rugby League Manager ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
07
T
RUGBY LEAGUE
ADMINISTRATOR’S REPORT
2023 PREMIERSHIP WINNING SIDES
Year after year participation at Saints continues to grow, and in 2023 over 1,000 players and 56 teams represented the Club in the Penrith and Districts Junior Rugby League and NSW Rugby League Conference Competitions. I would like to congratulate all players, coaches, managers and trainers for their efforts on and off the field this season. Regardless of where you finished in the competition, you should be proud of your efforts and the way in which you represented your club. Behind every junior rugby league club is a dedicated and loyal group of people who give up much of their time to set up playing fields and run weekend games, and without whom it would be very difficult for rugby league to survive. I would like to thank and congratulate all Saints game day officials for their contribution to the Club and to the game. It has been a pleasure to work with Saints and to be involved with such a dedicated team in Adam Przybyla (Rugby League Manager), Peter Bowler (Junior Rugby League President), and Janelle Borg (Junior Rugby League Secretary). I would like to thank Adam, Peter, Janelle, the Board of Directors and Club Management for their continuous support during my time in this role.
Out of the thirty-four teams eligible to play in the Penrith & Districts Junior Rugby League Semi Finals we had a staggering thirty-one teams qualify. Ten of these sides entered the finals series as Minor Premiers, and the following eleven sides were successful in securing a 2023 Premiership.
TEAM
COACH
MANAGER
Under 9/2s Under 9/5s Under 10/3s Under 11/1s Under 11/1 Girls Under 12/1s Under 13/1s Under 13/1 Girls Under 15/1 Girls Under 17/1 Girls Under 19/1s
Jenniffer Bannister Renella Fairley Tima Selau Maamora Polaia Jason Biag Elka Erceg Brett Savage Claire Savage Taiana Waddell-Scanlan Diane Waddell Mathew Kean Peter O’Brien Daniel Penese Luisa Taveuveu Jaye Williams Elysha Williams Michael Stuart Kiri Mohi Robert Schempp Jill Edwards Michael Weldon Simon Dicker
ST MARYS REPRESENTATIVE PLAYERS HAROLD MATTHEWS Alex Futialo (Penrith)
Jhett Sydir (Penrith)
Cooper Flood (North Sydney)
Latrell Toby–Smith (Penrith)
Hunter Bell (Penrith)
Riley Allen (Penrith)
Danny Johnstone (Penrith)
Massimo Maestrale (Penrith)
SG BALL Ethan Hutchings (Penrith)
Moustafa Dirani (Penrith)
TARSHA GALE Bella McEachern (Penrith)
Brooke Talataina (Sydney)
Chelsea Makira (Canterbury)
ST MARYS TEAM PERFORMANCES
IIa Fuimaono (Penrith)
MINI SIDES Although the Under 6’s to Under 8’s games are not classified as competitive, it didn’t stop our youngest Saints from giving it their all and taking to the field each week with great green and white pride. The Under 6’s put on the “Green Lantern” Jersey and showed off some super rugby league skills for the superhero round on Saturday 3rd June. The Under 7’s were like NRL superstars when they took part in the “Fire Gala Night” at BlueBet Stadium, running out of the tunnel and onto the field to “Hells Bells”. Four of the Saints Under 8 sides took part in the Mark Geyer Trophy, with the 8/3’s taking out the round robin knockout competition.
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Moanalei Brown (Sydney)
Montana Clifford (Penrith) Natalie Vaka (Penrith)
Siulolovao Vave (Parramatta)
Illisia Haumono (Sydney)
Sylvana Siitia (Penrith)
Litia Fusi (Canterbury)
Yasmine Baker (Penrith)
Jemimah Tagaloamatua (Penrith)
Taliyah Vaalele (Penrith)
PENRITH DISTRICT JUNIOR RUGBY LEAGUE AWARDS U16 PDJRL Player of the Year U17 PDJRL Female Player of the Year U19 PDJRL Player of the Year Don Feltis 1st Division Don Feltis 1st Division Female
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Jhett Sydir
Jade Elford
Riley Barglik
Club Champions Club Champions
LIN FALCONER AWARD
ST MARYS JUNIOR RUGBY LEAGUE CLUB MAJOR AWARDS Mini Player of the Year (U5s – U9s) Rocky Wynbergen Parnell U9/1
(Recognising players who achieved 100 games with the Club in 2023) Jaxon Ali Under 13/1 Kobie Clark U13/1 Zane-Cheyze Latu U13/1 Paul Manu U13/2 Vili Tuipulotu U13/2 Riley Hayward U13/2 Jackson Warwick U13/3 Taylan Barton Shaw U14/1 Robert Elama U14/1 Saumani Leatupue U14/1 Nele Riches U14/1 Sonny Tupulua U14/1 Brayden Barbagallo U14/2 William Elford U14/2 Shenelle Haumono U14/2 Hyrum Afualo U15/1 Jayden Bailey U15/1 Jackson Hayman U15/2 Hayden Hull U15/2 Logan Mason U15/2 Jamen Rimoni Filipo U15/2 Jeffery Siaosi U15/2 Xavior Vaoliko Savesi OM Kaleb Farr Sydney Shield Chance Te-Atua Sydney Shield
DOUG FALCONER AWARD
Mod Player of the Year (U10s – U12s) Jayden Xerri U12/1 Merv Cartwright Memorial Trophy (Best & Fairest U15s Player) Izaac Mascarenas Lance Kneller Award (Best & Fairest U16s Player) Jhett Sydir Warren Smith Award (Most Outstanding Saturday Team) U13/1’s Coached by Daniel Penese Sarah Togatuki Medal (Most Outstanding Saturday Female Player) Meekah Viiga U15/1 Girls Bill Webster Perpetual Trophy (Best & Fairest Saturday Player) Izaac Mascarenas U15/1 Egan/Rhodes Award (Junior Female Player of the Year) Jade Elford U17/1 Girls Graeme Delanoue Award (Best & Fairest U17s Player) Danny Johnstone Tony Mitchell Award (Best & Fairest U19s Player) Riley Barglik Betty Cobb Medal (Female Player of the Year) Tafao Asaua Gary Sullivan Trophy (Best & Fairest Open Mens Player) Xavior Savesi Laurie Barwick Memorial Trophy (Best & Fairest Sydney Shield Player) Sam Rodovu
(Recognising players who achieved 10 years’ service with the Club in 2023) Sione Tuipulotu U14/1 Luke Mercuri U14/1 Setala Saua U14/2 Kurt Hayward U14/2 Will White U14/2 Calvary Luai U15/1 Izaac Mascarenas U15/1 Sonny Vaka U15/1 Hayden Hull U15/2 Liam Jackson U15/2 Liam Millar U15/2 Jamen Rimoni-Filipo U15/2 Jackson Hayman U15/2 Carter Saua U16/1 Marika Korovou U17/1 Jayden De Celis U17/1 Jade Elford U17 Girls Sam Radovu Sydney Shield Filoimalo Tuimaualiga Sydney Shield
DIRECTORS AWARD ( This award recognises Committee Members and Officials with 10 or 25 years’ consecutive service with the Club) Barry Edwards 25 Years
SPONSOR RECOGNITION Elite Sand & Soil 10 Years Prima Art 10 Years Penrith Mazda 10 Years
LIFE MEMBERS TROPHY Joe Vaegaau
Mick Lewis Memorial Trophy (Best & Fairest Ron Massey Cup Player) Jake Butfield Tony Dicker Award (Most Outstanding Team in the Club) Ron Massey Cup Coached by Darren Baker Jeff Hogan Award (Team Manager of the Year) Amanda Saliba Open Mens & U11/2 Merv Smart Award (Club Person of the Year) Janelle Borg
KATINA GEALE Acting Rugby League Administrator
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
09
THE BOARD OF
DIRECTORS
10
WARREN SMITH OAM PRESIDENT
DAVID CARTWRIGHT VICE PRESIDENT
RON COSKERIE VICE PRESIDENT
JOE BORG DIRECTOR
JOHN BURNS DIRECTOR
BEN DICKER DIRECTOR
SIMON DICKER DIRECTOR
ROBERT GORST DIRECTOR
MICHAEL HILTON DIRECTOR
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
SAINTS CARES REPORT
St Marys Rugby League Club has an established and proud reputation of supporting a wide range of charitable, community and sporting organisations, significantly enhancing the social well-being of our local community because SAINTS CARES.
and about in the community, to communicate, achieve independence and increase their self-esteem. The Club’s $20,000 donation was put towards the purchase of specialised equipment for disabled and disadvantaged children in the local area.
Our Saints Cares Program engages with a host of organisations within this region to assist, empower, support, award or raise awareness of community initiatives and assistance programs. The beneficiaries of this funding range from local schools, high needs charities, social welfare organisations, and sporting and social clubs, all of whom have delivered substantial, positive outcomes for our local community.
St Marys Rugby League Club has been a supporter of Variety the Children’s Charity for well over 20 years, and through our Saints Cares program we have donated in excess of $700,000 to the worthwhile charity.
Whilst the growth and development of youth through sport and education is a focus of Saints, supporting the underprivileged, homeless, aged, and disabled has been a highlight of our past year’s efforts. Maintaining social inclusion for all ages is at the heart of what we do. During the past financial year Saints injected more than $800,000 into our local community, with significant contributions to:
PCYC PENRITH - $7,400 Partnering with PCYC enabled Saints to deliver Seniors Exercise Classes to the community each week (pictured below). Held in the Boronia Showroom every Monday morning, instructors from PCYC guide patrons through a light exercise class which can help improve energy levels, mobility, strength, balance and a person’s overall health and wellbeing. Elderly exercise has a number of proven health benefits that can enable seniors to live more independently. It can also prevent or delay illnesses such as osteoporosis, diabetes, and heart disease, and the social component can improve mood and help fight depression.
NORTH ST MARYS CHILDRENS CENTRE - $40,000 With 22 years of continuous support from Saints, the North St Marys Children’s Centre is a gem in our community. The centre engages speech and occupational therapists to provide early intervention therapy services. Children with severe speech and learning delays are provided therapy in an inclusive group setting, enabling educators and families to regularly access the expertise of skilled therapists. The program allows children, many from lower socio-economic areas, to access life-changing therapy so they can have a positive start to school and improved life and social skills.
YOUR COMMUNITY NEEDS - $25,000 Your Community Needs (YCN) provides free or low-cost groceries to the homeless, and disabled and disadvantaged families in the community. Prior to COVID-19, approximately 800 people sought assistance from this small outlet each week. That number has significantly increased with over 1200 people now seeking assistance each week. Rita who is the founder of YCN, works six days a week living by the mantra “no-one will go hungry on her watch!”. The funding provided by Saints goes directly towards purchasing food, the lease on their freezer and increasing electricity costs. In addition to the $25,000 provided, during the year we extended our support to include staffing to assist with the weekly barbeque that YCN delivers to the community. We also linked YCN with Saints supplier and sponsor, RPT Promotions and now all sausages for this weekly community barbeque are donated. This significant cost saving to YCN allows for further funds to be allocated to delivering food hampers within the community.
MAMA LANA’S COMMUNITY FOUNDATION - $20,000 Since 2016 the mission statement of Mama Lana’s Kitchen has been to provide an environment whereby disadvantaged or homeless children and families in the community can sit-down and have a warm meal at night. Saints generosity greatly assisted this charity with the increasing cost of food, and aided in operational costs so that the centre can continue to provide hot meals to homeless and disadvantaged people in the Penrith LGA six nights a week.
VARIETY THE CHILDREN’S CHARITY - $20,000 For 47 years Variety the Children’s Charity has been giving to children who are sick, disadvantaged or living with a disability a fair-go in life. The support provided by Variety allows kids to gain mobility, to get out
NEPEAN AREA DISABILITIES ORGANISATION - $6,000 NADO is a community-based charity with over 40 years’ experience in supporting people with disabilities across the Nepean and Blue Mountains region, and their families and carers. The funding provided by Saints assisted in the NADO Christmas celebrations and the inaugural Sensory Santa Event. Over two days more than 100 families and children with disabilities were able to experience the joy of Christmas with fun and engaging Santa photos, in a quiet and calm environment. While St Marys Junior Rugby League Club remains our primary benefactor, we have a steadfast commitment to other sports such as our sub-clubs of netball, cricket, golf and Masters Rugby League. Saints also supported a raft of sporting codes and organisations during the year including; Mt Druitt Town Rangers Football Club ($25,000), St Clair United Soccer Club ($15,000), Ropes Crossing Strikers Football Club ($10,000), Penrith Police Rugby League ($7,000), Penrith Valley Sports Foundation ($6,000), St Marys Soccer Club ($5,000), St Marys Baseball Club ($4,000), Chifley College Dunheved Campus Sports Awards ($3000), Warragamba Wombats Junior Rugby League Club ($3000), Colyton Colts Junior Rugby League ($2,000), and the Western Sydney Academy of Sport Ambassador Program ($1,000). Additionally, Cambridge Gardens Public School received $5,000 in funding for the purchase of two multi-purpose goal posts. We are proud of our work within the community. We are proud to care for those who are starting their journey in life and those who are continuing their journey – it’s the legacy of what this Club was founded on. We are proud to be Saints!
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
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NOTICE OF
ORDINARY RESOLUTIONS It is a legal requirement that no resolution may be proposed at the meeting that is not already listed in the Notice of Meeting. Any ordinary resolution must receive votes in favour from not less than 50% + one of the eligible members who cast a valid vote in person at the meeting. Ordinary resolutions to be proposed at the meeting.
The present Board unanimously recommend the proposed resolution.
FIRST RESOLUTION That the members authorise (and declare to be reasonable) the payment or reimbursement by the Club up to a maximum not exceeding $100,000 (before GST) for, or the provision by the Club at the Club’s expense of, the following in respect of each of the Directors including the President: a. the reasonable cost of clothing indicative of their position as a Director. b. reasonable expenses incurred by Directors in travelling to and from Board meetings or other duly constituted Committee meetings, as approved by the Board from time to time on production of invoices, receipts or other proper documentary evidence of such expenditure. c. the cost of reasonable food and refreshments before, during and at the conclusion of Board and Committee meetings. d. t he payment of the premium for Directors’ and Officers’ insurance cover. e. r easonable out-of-pocket expenses incurred when carrying out their duties in relation to the Club including (without limitation) the reasonable costs of the entertainment of special guests of the Club and participation in Club promotional activities (whether at the Club’s premises or elsewhere), where such out-of-pocket expenses are approved by a current resolution of the Board. f. the reasonable cost of Directors and their partners or invited guests attending functions (in respect of a football game or otherwise) at the St Marys Leagues Stadium Corporate Hospitality Area whilst representing the Club in its corporate capacity. g. car parking spaces for their exclusive use. h. the reasonable cost of Directors and their partners attending the annual dinner and other functions as approved by the Board. i.
preferential bookings or reservations for Club functions.
Explanatory Note – First Resolution It is necessary and appropriate for the Directors to be active in performing their duties and pursuing the Club’s success. Directors’ out-of-pocket expenses reasonably incurred in the course of carrying out their duties, can already be authorised by the Board. However, the proposed resolution, in the interests of transparency, makes disclosure of some of the types of expenses likely to be incurred. To the extent that the resolution involves the payment of certain specific outof-pocket expenses, the resolution will acknowledge that expenses of the types proposed are reasonable and there is or will be a current resolution of the Board authorising the payment of expenses of the kind listed. To the extent that the proposed expenses involve the provision of benefits not in the form of money or a cheque being provided to a specific class of member, that is permissible with a current authorisation from a General Meeting.
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To the extent that the proposed expenses might otherwise be regarded as a profit, benefit or advantage is not offered equally to every full member and able to be authorised as above, they are still permissible if the Court is of the opinion that they are reasonable in the circumstances. The resolution seeks to acknowledge certain types of Directors’ expenses that are regarded by the members as being reasonable in the circumstances.
SECOND RESOLUTION That the members authorise (and declare to be reasonable) the payment or reimbursement by the Club up to a maximum not exceeding $100,000 (before GST) for, or the provision by the Club at the Club’s expense of, the following in respect of each of the Directors including the President: a. the reasonable cost of the Directors and their partners attending the Clubs NSW Annual General Meeting and the Leagues Clubs Australia Annual Conference. b. t he reasonable cost of attendance at trade shows, conferences and meetings and the reasonable cost of professional fees and training in relation to their role and responsibilities as a Director. c. the reasonable cost of Directors and their partners attending other registered clubs or gaming, entertainment, leisure or recreation venues for the purpose of viewing and assessing their facilities and methods of operation, where the attendance is approved by the Board as being necessary for the benefit of the Club. Explanatory Note – Second Resolution Differing from the First Resolution, this Resolution addresses the costs of matters associated with professional development and information gathering. To the extent that the resolution involves the payment of certain specific out-of-pocket expenses, the resolution will acknowledge that expenses of the types proposed are reasonable and there is or will be a current resolution of the Board authorising the payment of expenses of the kind listed. To the extent that the proposed expenses involve the provision of benefits not in the form of money or a cheque being provided to a specific class of member, that is permissible with a current authorisation from a General Meeting. To the extent that the proposed expenses might otherwise be regarded as a profit, benefit or advantage that is not offered equally to every full member and able to be authorised as above, they are still permissible if the Court is of the opinion that they are reasonable in the circumstances. The resolution seeks to acknowledge other types of Directors’ expenses that are regarded by the members as being reasonable in the circumstances. The present Board unanimously recommend the proposed resolution.
THIRD RESOLUTION That the members authorise (and declare to be reasonable the payment or reimbursement by the Club) up to a maximum amount of $50,000 (before GST) for, or the provision by the Club at the Club’s expense of, the reasonable costs for Directors and other members, who the Board requests to accompany rugby league teams from the Club when travelling, including airfares, accommodation, meals, beverages, travelling and incidental expenses.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Explanatory Note – Third Resolution
SEVENTH RESOLUTION
The context of this proposed resolution is similar to the previous resolutions.
That the members approve the payment of an honorarium at the monthly rate set out below and in arrears, and prorated on a daily basis for any broken period of less than a calendar month at the start or end of their term, to each of the members of the rugby league subcommittee identified below in respect of their service on that committee until the next Annual General Meeting:
It deals with expenditure to be incurred in connection with individual Directors or other members who the Board requests to accompany rugby league teams from the Club when travelling. The present Board unanimously recommend the proposed resolution.
• President - $230 per month • Secretary - $230 per month • Kingsway Venue Manager - $125 per month
FOURTH RESOLUTION That the members authorise (and declare to be reasonable) the payment or reimbursement by the Club up to a maximum amount of $150,000 (before GST) for, or the provision by the Club at the Club’s expense of, reasonable costs for Directors to travel overseas including airfares, accommodation, meals, beverages, travelling and incidental expenses, where approved by the Board for the purposes of research of the design and development of the Club and its premises and operations and the conduct of its sporting activities. Explanatory Note – Fourth Resolution The context of this proposed resolution is similar to the previous resolutions. It deals specifically with expenditure to be incurred in connection with Directors undertaking overseas travel in the interests of Club development with the approval of the Board.
• St Marys Leagues Stadium Venue Manager - $125 per month • Other Executive appointed positions, as approved by the Board and not exceeding $ 60 per month. Explanatory Note – Seventh Resolution An honorarium may only be paid where approved by a resolution passed at a General Meeting. Under the Registered Clubs Legislation, the only members entitled to vote on this resolution are the members who are entitled to vote on the election of the Board. The present Board unanimously recommend the proposed resolution.
EIGHTH RESOLUTION
The present Board unanimously recommend the proposed resolution.
That the members authorise (and declare to be reasonable) the payment or reimbursement by the Club up to a maximum not exceeding $20,000 (before GST) for, or the provision by the Club at the Club’s expense of, the following in respect of each of the Club’s Life Members:
FIFTH RESOLUTION
a. the reasonable cost of clothing indicative of their position as a Life Member. b. the reasonable cost of Life Members and their partners attending functions at the St Marys Leagues Stadium Corporate Hospitality Area whilst representing the Club.
That the members approve the payments of Directors fees at the monthly rate of $700 (plus the Superannuation Guarantee Levy) in arrears, and prorated on a daily basis for any broken period of less than a calendar month at the start or end of their term, to the President of the Club in respect of his service on the Board until the next Annual General Meeting.
c. The reasonable cost of Life Members and their partners attending official club functions and other industry events, as approved by resolution of the Board.
Explanatory Note – Fifth Resolution
Explanatory Note – Eighth Resolution
Directors fees may only be paid where approved by a resolution passed at a General Meeting. Under the Registered Clubs Legislation, the only members entitled to vote on this resolution are the members who are entitled to vote on the election of the Board.
This resolution deals with expenditure likely to be incurred in connection with Life Members and their partners attending Club and industry events that the Board deem appropriate and in recognition of their status as a Life Member, as approved by the Members. The present Board unanimously recommended the proposed resolution.
The present Board unanimously recommend the proposed resolution.
NINTH RESOLUTION
SIXTH RESOLUTION
That the members authorise (and declare to be reasonable) the payment or reimbursement by the Club for:
That the members approve the payment of Directors fees at the monthly rate of $550 (plus the Superannuation Guarantee Levy) in arrears, and prorated on a daily basis for any broken period of less than a calendar month at the start or end of their term, to each Director of the Club in respect of their service on the Board until the next Annual General Meeting. Explanatory Note – Sixth Resolution As noted above, Directors fees may only be paid where approved by a resolution passed at a General Meeting. Under the Registered Clubs Legislation, the only members entitled to vote on this resolution are the members who are entitled to vote on the election of the Board. The present Board unanimously recommend the proposed resolution.
a. The reasonable expenses incurred, up to a maximum amount not exceeding $4,000, in relation to providing a funeral for departed members in circumstances which the Board, in it’s discretion, determine are special and significant to the Club. b. The reasonable expenses incurred, up to a maximum amount not exceeding $4,000, in relation to providing a wake for departed members in circumstances which the Board, in it’s discretion, determine are special and significant to the Club. Explanatory Note – Ninth Resolution This resolution allows the Club to contribute towards the cost of a funeral and/or wake for departed members who the Board deem to have made a significant contribution to the Club. This benefit is not available to all members. The present Board unanimously recommended the proposed resolution.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
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NOTICE OF
SPECIAL RESOLUTION PROCEDURAL MATTERS 1.
(f)
mendments to the Special Resolution will not be permitted from A the floor of the meeting other than for minor typographical or clerical corrections which do not change the substance or effect of the Special Resolution.
“(a) In respect of every application for membership made pursuant to this Constitution there must be completed a nomination form which must be in a form and containing such particulars as are from time to time prescribed by the Board, including the full name and address, email address and telephone number of the candidate and a statement that the candidate, if admitted, will be bound by the Constitution of the Club.”
2. To be passed, the Special Resolution requires votes from not less than three quarters of those members who being eligible to do so, vote in person on the Special Resolution at the Annual General Meeting.
(g) deleting from Rule 34(c) the words “and address”.
3.
(h)
nder the Club’s Constitution only Life members and financial U Football members are eligible to vote on the Special Resolution.
deleting Rule 37(b) and in its place inserting the following new Rule 37(b):
4. Under the Registered Clubs Act proxy voting is prohibited and members who are employees of the Club are ineligible to vote.
“(b) Should a person who is admitted as a Provisional member not be elected to membership of the Club:
5. The Board of the Club recommends that members vote in favour of the Special Resolution as it will keep the Club’s Constitution current with relevant legislation affecting clubs.
(i) that person will cease to be a Provisional member of the Club; and
(ii) the joining fee (if any) and subscription submitted with the nomination form shall be returned to that person.”
(i)
SPECIAL RESOLUTION (a)
i nserting into Rule 2 the following definitions in alphabetical order: “Director Identification Number” means the number that is referred to by the same words in section 1272C of the Corporations Law that a member of the Club must have before that member can be elected or appointed to office as a director of the Club.
“Non-financial member” means a member who has not paid all joining fees, subscriptions, levies and other payments to the Club by the relevant due dates.
(j)
39. For the purposes of section 30 (2B) of the Registered Clubs Act, the Board shall determine the joining fees, subscriptions, and other payments (excluding levies) payable by members of the Club. Members subscriptions must be paid annually in advance or, if the Board so directs and approves, by quarterly or half-yearly instalments in advance or for more than one year in advance. The time and manner of payment thereof and all other matters pertaining thereto not especially provided for by this Constitution are as prescribed by the Board from time to time.”
(b) deleting from Rule 2 the definition of “Financial member” and in its place inserting the following new definition: “Financial member” means any member who has paid all joining fees, subscriptions, levies and other payments to the Club by the relevant due dates.” inserting at the beginning of Rule 30 the following words “Subject to any exemptions contained in the Registered Clubs Regulation or any exemptions approved by the relevant regulatory body”.
(d)
i nserting new Rule 31(b) and renumbering the remaining provisions accordingly: “(b) A person may be admitted to Temporary membership for a period of up to, but not exceeding seven (7) consecutive days (or such longer period as approved by the relevant regulatory body). A person admitted to Temporary membership under this Rule shall only be required to enter their relevant details in the register of Temporary members referred to in Rule 46(c) on the first day that they enter the Club’s premises during that period.”
(e)
deleting renumbered Rule 31(e) and in its place inserting the following new Rule 31(e): “(e) No person under the age of eighteen (18) years may be admitted as a temporary member of the Club unless that person is a member of another registered club and satisfies the requirements of Rule 30(c).”
deleting the heading above Rule 39 and Rule 39 and in their place inserting the following new heading and new Rule 39: “ JOINING FEES, SUBSCRIPTIONS AND LEVIES
“Quarter” means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.
(c)
inserting new Rule 37(e) as follows: “(e) The Secretary or senior employee then on duty may refuse a Provisional member admission to the Club’s premises or terminate the membership of any Provisional member at any time without notice and without having to provide any reason. If the membership of a Provisional member is terminated in accordance with this Rule, the Club must return any joining fee and annual subscription (if any) paid by the Provisional member when applying for membership of the Club.”
That the Constitution of St Marys Rugby League Club Ltd be amended by:
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deleting Rule 34(a) and in its place inserting the following new Rule 34(a):
(k)
d eleting from Rule 40(a) the words “, provided that the amount payable by Ordinary members is not less than $2 per annum or such other minimum amount prescribed from time to time by the Registered Clubs Act.”
(l)
d eleting the heading above Rule 45 and Rule 45 and in their place inserting the following new heading and Rule 45: “ NOTIFICATION TO CLUB REGARDING CHANGE IN MEMBER’S DETAILS
45. Every member must advise the Secretary of any change to their personal details (including their address, email address and telephone number) within seven (7) days of the change to their personal details.” (m) d eleting Rule 46(a) and in its place inserting the following new Rule 46(a): “(a) A register of persons who are Full members of the Club. This register must set forth the name in full and address of each Full member and, if the member is an Ordinary member, for the purposes of the Registered Clubs Act only, the date on which that member last paid the fee for membership of the Club.”
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
(n)
deleting Rules 47(a), (b) and (c) and in their place inserting the following new Rules 47(a), (b), (c), (d) and (e) and renumbering the remaining provisions accordingly:
(p)
“(k) In the event that a notice of charge is issued to a member pursuant to paragraph (a) of this Rule, the Board, the Secretary (independently of the Board) or disciplinary committee has the power to immediately suspend that member from some or all privileges of membership until the charge is heard and determined. Notice of an immediate suspension imposed by the Board, the Secretary (independently of the Board) or disciplinary committee on a member must be notified in writing to that member.”
“(a) A member shall be notified of:
(i) any charge against the member pursuant to this Rule;
(ii) the particulars of the charge, including the alleged facts and circumstances which give rise to the charge against the member;
(iii) the date, time and place of the meeting of the Board at which the charge is to be heard.
(b) T he member charged shall be notified of the matters in paragraph (a) of this Rule 47 by notice in writing to the member at least 14 clear days before the meeting of the Board or disciplinary committee at which such charge is to be heard.
deleting renumbered Rule 47(k) and in its place inserting the following new Rule 47(k):
(q) inserting at the beginning of Rule 47A the words “Subject to the terms of their suspension”. (r)
(c) The member charged shall be entitled to:
deleting Rule 48(a)(iii) and in its place inserting the following new Rule 48(a)(iii): “(iii) whose presence on the premises of the Club renders the Club or the Secretary liable to a penalty under the Registered Clubs Act, Liquor Act and any other applicable law;”
(i) attend the hearing for the purpose of answering the charge; and
(ii) submit to the meeting written representations for the purpose of answering the charge;
(s)
inserting into Rule 48(a)(vi) after the words “the Secretary” the words “or an employee exercising this power”.
(iii) call witnesses provided that:
(t)
i nserting into Rule 48(a)(vii) after the words “club licence, the word “by-law”.
(u)
i nserting the following new heading and Rule 48:
(1) if a proposed witness fails to attend the hearing or provide evidence at the hearing, the Board can still hear and determine the charge; and (2) the Club cannot and will not force any person (including a member) proposed by the member charged as a witness to attend and provide evidence at the hearing. The member charged must act in an appropriate manner at the meeting (and in particular and without limitation), the member must not act in an offensive or disruptive manner.
(d) If the chairperson determines (in their absolute discretion) that the member charged is not acting in an appropriate manner, the chairperson may issue the member charged with a warning regarding the member’s conduct and advise the member that if the member fails to comply with the warning, the member may be asked to leave the meeting and the Board will continue to consider and deal with the charge in the absence of the member.
(o)
“ ADDITIONAL DISCIPLINARY POWERS OF SECRETARY 48A.
I f, in the opinion of the Secretary (or his or her delegate), a member has engaged in conduct that is unbecoming of a member or prejudicial to the interests of the Club, then the Secretary (or his or her delegate) may suspend the member from some or all rights and privileges as a member of the Club for a period of up to twelve (12) months.
48B.
In respect of any suspension pursuant to Rule 48A, the requirements of Rule 47 shall not apply.
48C.
he Secretary (or his or her delegate) must notify the T member (by notice in writing) that:
(a) the member has been suspended as a member of the Club; and
(b) the period of suspension;
(e) If the member charged does not comply with the warning given in accordance with paragraph (d) of this Rule, the chairperson (in their absolute discretion) may exclude the member charged from the meeting and continue to consider and deal with the charge in his or her absence.”
(c) the privileges of membership which have been suspended; and
(d) if the member wishes to do so, the member may request by notice in writing sent to the Secretary, the matter be dealt with by the Board pursuant to Rule 47.
deleting renumbered Rules 47(g), (h) and (i) and in their place inserting the following new Rules 47(g), (h) and (i):
48D.
If the member submits a request under Rule 48C(d): (a) the member shall remain suspended until such time as the charge is heard and determined by the Board; and
(b) the Club must commence disciplinary proceedings against the member in accordance with the requirements of Rule 47.
48E.
The determination of the Board in respect of those disciplinary proceedings shall be in substitution for and to the exclusion of any suspension imposed by the Secretary (or his or her delegate).
48F.
his Rule 48 applies to Full members only and it does T not limit or restrict the Club from exercising the powers contained in Rule 47 of this Constitution and the powers contained in Section 77 of the Liquor Act.”
“(g) If the member fails to attend such meeting the charge may be heard and dealt with and the Board or disciplinary committee may decide on the evidence before it, and the Board may impose any penalties, the member’s absence notwithstanding, but having regard to any representations made to it in writing by the member charged. (h) After the Board or disciplinary committee has considered all the evidence put against the member it may:
(i) Immediately come to a decision as to the member’s guilt in relation to the charge; or
(ii) Advise the member that the Board requires additional time to consider the evidence put before it in order to determine whether or not the member is guilty of the charge.
(i) The member charged must be given a further opportunity to address the Board or disciplinary committee in relation to the penalty appropriate to the charge of which the member has been found guilty. The Board shall, in its absolute discretion, determine whether or not the member will address the issue of penalty:
(i) at the meeting or afterwards; and
(ii) by way of verbal or written submissions or a combination thereof.”
(v)
deleting from Rule 52(b) the words “is not eligible to be nominated for election to the Board”.
(w) inserting new Rules 52(vi) to (xii) inclusive as follows: “(vi) is disqualified from being a director by reason of any order or declaration made under the Act, Liquor Act, Registered Clubs Act or any other applicable legislation; (vii) is of unsound mind or whose person or estate is liable to be dealt with any way under the law relating to mental health; (viii) is prohibited from being a director by reason of any order or declaration made under the Act, Liquor Act, Registered Clubs Act or any other applicable legislation;
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(ix) has been convicted of an indicatable offence (irrespective of whether or not a conviction was actually recorded) but it does not include a spent conviction (as defined in the Criminal Records Act 1991);
(m) ceases to hold the necessary qualifications to be elected or appointed to the Board;
(x) is a current contractor of the Club or a director, secretary, employee or business owner of a contractor;
(o) is not a Financial member of the Club;
(n) is convicted of an indictable offence (unless no conviction is recorded); (p) is found guilty of a disciplinary charge and suspended from membership of the Club for a period exceeding three (3) months;
(xi) was a contractor of the Club or a director, secretary, employee or business owner of a contractor immediately preceding the proposed date of election or appointment to the Board;
(q) i s removed from office as a director in accordance with the Act and this Constitution;
(xii) is a director of another registered club shall not be eligible to stand for or be elected or appointed to the Board. (x)
inserting new Rule 52(c) as follows: “(c) A member shall not be entitled to be elected or appointed to the Board if he or she does not hold a Director Identification Number on the proposed date of election or appointment to the Board.”
(y)
inserting new Rule 56A as follows: “56A The election of the Board (including without limitation, the results of the election of the Board) shall not be invalidated or voided if the procedure set out in Rule 55(d) is not strictly complied with provided there is no substantive injustice for any candidates.”
(z)
inserting new Rule 58(i) as follows: “(i) Issue requests and directions to members which may be reasonably required for the proper conduct and management of the Club.”
(aa) inserting new Rule 65A as follows: “65A. The Board shall have the power to dissolve committees or remove committee members from office.” (bb) deleting from Rule 66 the words “calendar month” and in their place inserting the word “Quarter”.
(r) (ii)
inserting new Rule 84A as follows: “84A. The chairperson:
(a) Is responsible for the conduct of the general meeting; and
(b) shall determine the procedures to be adopted and followed at the meeting;
(c) may refuse a member admission to a general meeting or require a member to leave a general meeting if in his or her opinion, the member is not complying with reasonable directions and/or is acting in an offensive and disruptive manner at the meeting.”
(jj)
deleting Rules 100 and 101 and in their place inserting the following new Rules 100 and 101: “100. Without limiting the provisions of the Corporations Act, a notice may be given by the Club to any member either:
(a) personally; or
(b) by sending it by post to the address of the member; or
(c) by sending it to the electronic address (if any) of the member.
(d) By sending the member sufficient information (either electronically or in physical form) to access the notice electronically, including by way of a text message containing a hyperlink to access the notice or a postcard to the member’s address containing instructions on how to access the notice.
(cc) deleting Rule 73A.2 and in its place inserting the following new Rule 73A.2: “Notwithstanding anything contained in the Act, a director who has a material personal interest in a matter that is being considered at a meeting of the Board, or of the Directors of the Club: (a) must not vote on the matter; and (b) must not be present while the matter is being considered at the meeting.”
101. (a) W here a notice is sent to a member in accordance with Rule 100(a), the notice is deemed to be received on the day it is given to the member.
(b) Where a notice is sent to a member in accordance with Rules 100(b) and 100(c), the notice shall be deemed to have been received by the members on the day following that on which the notice was sent.
(c) W here a notice is sent to a member in accordance with Rule 100(d), the notice shall be deemed to have been received by the member on the day following that on which the Club provided the member with the relevant information to access the notice.”
(dd) inserting at the end of Rule 73B.1 the following: “If there is any inconsistency between the Registered Clubs Accountability Code and this Rule 73B, the provisions of the Registered Clubs Accountability Code shall prevail to the extent of that inconsistency.” (ee) inserting at the beginning of Rule 73B.5 the following: “Subject to any restrictions contained in the Registered Clubs Act and Rule 73B.7,”.
(kk) inserting the following new heading and Rules 107 and 108 as follows: “MEETINGS AND VOTING
(ff) inserting new heading and Rules 73B.13 and 73B.14 as follows:
107. In accordance with section 30C(3) of the Registered Clubs Act, the Club, the Board, or a committee of the Club may (but is not required to):
“TRAINING DISCLOSURES
73B.13 The Club must make available to members:
(a) details of any training which has been completed by directors, the Secretary and managers of the Club in accordance with the Registered Clubs Regulation; and
(b) the reasons for any exemptions of directors, the Secretary or managers from undertaking the training prescribed by the Registered Clubs Regulation.
73B.14 T he Club must indicate, by displaying a notice on the Club’s premises and on the Club’s website (if any), how the members of the Club can access the information.”
(a) Distribute a notice of, or information about, a meeting or election of the Club, the Board, or a committee of the Club by electronic means; and/or
(b) Hold a meeting at which all or some persons attend by electronic means but only if a person who speaks at the meeting can be heard by the other persons attending;
(c) Allow a person entitled to vote at a meeting of the Club, the Board, or a committee of the Club to vote in person or by electronic means.
(gg) deleting from Rule 75(f) the words “given to the Secretary”.
108. If there is any inconsistency between Rule 107 and any other provision of this Constitution, Rule 107 shall prevail to the extent of that inconsistency.”
(hh) inserting new Rules 75(k) to (r) as follows:
“(k) fails to complete the mandatory training requirements for directors referred to in Rule 53(d) within the prescribed period (unless exempted); (l) was not eligible to stand for or be elected or appointed to the Board;
16
oes not hold a Director Identification Number (unless exempted d from doing so).”
(ll)
By making such other consequential amendments necessary to give effect to this Special Resolution including ensuring that the accuracy of all Rule numbers and cross referencing of Rules and paragraphs in this Constitution.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
NOTES TO MEMBERS ON
SPECIAL RESOLUTION 1. The Special Resolution proposes as series of amendments to the Club’s Constitution to bring it into line with best practice and the requirements of the Corporations Act, Liquor Act and Registered Clubs Act (RCA). 2. Paragraphs (a) and (b) insert and amend the definitions used in the Constitution. 3. Paragraph (c) makes reference to the exemptions in the Registered Clubs Act in relation to Temporary members. 4. Paragraphs (d) and (e) relates to a change to Temporary membership to bring the Constitution into line with the RCA. 5. Paragraphs (f), (g) and (m) adopt recent amendments to the RCA which remove the requirement to obtain details of a new members occupation and having to put the address of on the Notice board for a new member. The Club will also collect the email address and mobile number for new members. 6. Paragraphs (h) and (i) relate to Provisional membership including removing the 6 week time limit on a person’s application for Provisional membership. 7. Paragraphs (j) and (k) amend the provision dealing with member subscriptions to remove the requirement to charge an annual subscription fee of no less than $2.00. This requirement has recently been removed from the RCA. 8. Paragraph (l) clarifies that members must notify the Club of changes to their contact details. 9. Paragraphs (n), (o), and (p) amend and insert a new provision relating to disciplinary matters to bring the Constitution into line with best practice. 10. Paragraphs (q) to (t) inclusive amend existing provisions relating to the removal of persons from the Club’s premises to bring the Constitution into line with best practice. 11. Paragraph (u) provides additional powers to the Secretary to suspend a member’s membership up to a period of not more than twelve (12) months. 12. Paragraphs (v) and (w) set out additional grounds upon which a member will be ineligible to be elected to the Board including if they are a contractor to the Club or an employee of a contractor or if they are a director of another registered club.
13. Paragraph (x) inserts a new Rule 52(c) which requires all directors to have a Director Identification Number as required under the Corporations Act. 14. Paragraph (y) simply clarifies that a failure to strictly follow all the procedures in the Constitution in relation to the election of the Board does not invalidate the election process. 15. Paragraphs (z) and (aa) inserts a new provision relating to the powers of the Board to bring the Constitution into line with best practice and clarifies that the Board can create and dissolve sub clubs and committees of the Club. 16. Paragraph (bb) amends existing Rule 66 to allow the Board to meet whenever required but at least once every 3 months. This reflects a recent change to the RCA which removed the requirement for the board of a club to meet at least once a month and replaced it with a requirement to meet at least once every 3 months. 17. Paragraph (cc) to (ee) inclusive amend existing provisions relating to corporate governance and accountability to bring the Constitution into line with the Registered Clubs Act. 18. Paragraph (ff) deals with the Training Disclosures required to be kept under the Registered Clubs Regulation. 19. Paragraphs (gg) and (hh) amend Rule 75 which deal with the grounds upon which a casual vacancy on the Board of the Club will arise. 20. Paragraph (ii) inserts a new Rule 84A which sets out the powers of the chairperson of a general meeting in more detail which reflect the general law. 21. Paragraph (jj) and (kk) amend existing provisions regarding notices to members to bring the Constitution into line with the Corporations Act and adds a new Rules 107 and 108 which reflect recent changes to the RCA including allowing the Club to send a Notice of a general meeting and documents relating to a meeting electronically. 22. Paragraph (ll) permits any necessary amendments to be made to address any anomaly in Rule numbering and cross referencing throughout the Constitution.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
17
CORE & NON CORE
PROPERTY
The Registered Clubs Act requires the annual report to specify the core and non core property of the Club. The following site master plan identifies all of the Club’s land holdings and clearly identifies what is deemed ‘core’ and ‘non core’.
AREA 1 CORE
NON CLUB PREMISES ST MARYS LEAGUES STADIUM
FORRESTER RD
WIDE WILDLIFE CORRIDOR
AREA 4 NON CORE AREA 2 NON CORE CAR PARK
AREA 1 CORE
EXISTING CLUB BUILDING
CAR PARK
AREA 3 NON CORE
BORONIA RD
18
AREA 1 (CORE)
AREA 3 (NON CORE)
Area 1 which is deemed as the Club’s core property consists of the Club building, Club car parking and St Marys Leagues Stadium.
The site marked Area 3 on the above is the site where McDonald’s is located.
AREA 2 (NON CORE)
AREA 4 (NON CORE)
Area 2 is located to the east of the Club’s boundary along Boronia Road. It is zoned as a ‘SP1 Special Activities’ zone with ‘Registered Club’. Permitted uses are limited to land ancillary to the Club operation. The Board resolved to explore development opportunities congruent with the zoning of the land.
This area is to be used for future Club extensions and is where the Holiday Inn Sydney St Marys is located. Area 4 is deemed non core to permit long term leases associated with joint ventures eg. Go Bananas Family Entertainment Centre and catering licences.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
30 JUNE 2023
DIRECTORS’ REPORT The directors present their report on the consolidated entity consisting of St Marys Rugby League Club Ltd (the Club or the Company) and the entities it controlled at the end of, or during, the year ended 30 June 2023. Throughout the report, the consolidated entity is referred to as the Group.
DIRECTORS The following persons held office as directors of St Marys Rugby League Club Ltd during the financial year up to the date of this report, unless otherwise stated:
NAME, QUALIFICATIONS
EXPERIENCE & EXPERTISE
DIRECTORSHIPS
SPECIAL RESPONSIBILITIES
Warren Earl Smith OAM
Sales Consultant/Semi Retired
Director since 1986
Board President
David Cartwright
Construction Supervisor
Director since 1997
Board Vice President
William John Burns
Driver Co-ordinator (Retired)
Director since 2002
–
Michael Hilton
Transport Supervisor (Retired)
Director since 2003
–
Ronald James Coskerie
Bank Executive
Director since 2007
Board Vice President
Joseph Borg
Self-employed Concreter
Director since 2012
–
Robert Lindsay Gorst
Small Business Owner
Director since 2014
–
Simon Dicker
Program Manager
Director since 2018
–
Mathew Benjamin Dicker
Owner of Communications Company
Director since 2020
–
PRINCIPAL ACTIVITIES During the year the principal continuing activities of the Group consisted of promoting the game of rugby league in the Penrith district and elsewhere, improving existing club facilities, providing and enhancing member benefits and ensuring that the Group is able to meet the needs of members and the community. The Board’s commitment to the principal activities and the social wellbeing of the community has enhanced the Group’s reputation in the community and its financial success. There was no significant change in the nature of the activity of the Group during the year
DIVIDENDS No dividends have been paid during the financial year. The directors do not recommend that a dividend be paid in respect of the financial year (2022: $nil).
REVIEW OF OPERATIONS The profit from ordinary activities after income tax amounted to $4,272,112 (2022: $601,340).
CLUB OPERATIONS
HOTEL OPERATIONS
CLUB OPERATIONS
2023
2022
2023
2022
Revenue
44,444,560
29,117,076
4,617,368
2,129,883
Expenses
(41,907,475)
(27,936,852)
(2,882,341)
(2,708,769)
Net profit
2,537,085
1,180,224
1,735,027
(578,886)
Depreciation expense
5,837,827
4,866,624
1,035,462
1,073,474
Interest expense
864,041
450,401
2,981
4,556
Earning before interest, tax, impairment, depreciation and amortisation (EBITDA)
9,153,622
6,497,249
2,773,470
499,144
Add back:
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
19
30 JUNE 2023
DIRECTORS’ REPORT The Group’s performance is constantly measured against internally set KPI’s in core business activities being determined by the Board as beverage, gaming and commercial rental. Additionally, industry benchmarks are used when setting internal KPI’s as well as monitoring industry trends. The Board sets an annual budget which incorporate operational KPI’s, and the financial results are analysed and compared to the budget on a monthly basis. However, the success of the Group is not judged by financial performance alone. The reputation, professionalism and standing of the Group in the community and industry are paramount and is a key factor in determining the Group’s success.
SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS Subsequent to year end, the Club has entered into a new funding agreement with the Commonwealth Bank of Australia. There have been no other significant changes in the state of affairs of the Group during the year.
EVENT SINCE THE END OF THE FINANCIAL YEAR Subsequent to year, the Commonwealth Bank of Australia authorised the extension of the facility for another 3 years to 24 August 2026. This authorisation was received on 2 August 2023 via email and formalised via signed agreement on 21 August 2023. This facility will be classified as non current in the subsequent annual report. No other matter or circumstance has arisen since 30 June 2023 that has significantly affected the Group’s operations, results or state of affairs, or may do so in future years.
LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS The directors expect that the Group will continue to carry out its principal activities as detailed above. There are no other known or likely developments which the directors foresee which the directors wish to disclose at this time.
ENVIRONMENTAL REGULATION The Group is not affected by any significant environmental regulation in respect of its operations.
OBJECTIVES AND STRATEGY The short-term strategic objectives for the year were: •
Uphold the objects listed in the Constitution with a commitment to rugby league being foremost;
•
Financial consolidation to ensure the Club maintains a strong financial position;
•
Ensure that the Club continues to meet the needs of members and the community;
•
nhance the Club’s reputation as being an integral part of the community and contribute to the economic and social wellbeing of the E community;
•
Professional corporate governance;
•
Providing excellence in customer service, facilities and member benefits;
•
Completion of building and renovation programs;
The long-term strategic objectives for the year were: •
Uphold the objects listed in the Constitution with the commitment to rugby league being foremost;
•
Progression of the strategic plan;
•
Formalise priorities, plans and building programs for Club development;
•
Professional corporate governance and fiscal management;
•
Ensure that the Club is able to continue to meet the needs of members and a rapidly growing community;
•
Develop strategies to address industry challenges and threats to continued financial viability; and
•
Investigate other business opportunities for the Club’s excess land holdings.
The Board conducts strategic planning sessions to ensure the future of St Marys Junior Rugby League Club and rugby league in the district through the long-term financial viability of the Club. Through these methods the Board ensures the Club can continue to meet its objectives, the needs of members and the community and successfully manage future industry challenges.
20
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
MEETINGS OF DIRECTORS The numbers of meetings of the Club’s board of directors and of each board committee held during the year ended 30 June 2023, and the numbers of meetings attended by each director were:
FULL MEETINGS OF DIRECTORS A B Warren Earl Smith OAM
15
15
David Cartwright
15
15
Ronald James Coskerie
13
15
William John Burns
14
15
Michael Hilton
14
15
Joseph Borg
15
15
Robert Lindsay Gorst
10
15
Simon Dicker
15
15
Matthew Benjamin Dicker
14
15
A= Number of meetings attended B= Number of meetings held during the time the director held office or was a member of the committee during the year
INSURANCE OF OFFICERS AND INDEMNITIES INSURANCE OF OFFICERS During the financial year, St Marys Rugby League Club Ltd paid a premium of $6,416 (2022 : $8,020) to insure the directors and secretaries of the Group and its Australian-based controlled entities, and the general managers of each of the divisions of the Group. The liabilities insured are legal costs that may be incurred in defending civil or criminal proceedings that may be brought against the officers in their capacity as officers of entities in the Group, and any other payments arising from liabilities incurred by the officers in connection with such proceedings. This does not include such liabilities that arise from conduct involving a wilful breach of duty by the officers or the improper use by the officers of their position or of information to gain advantage for themselves or someone else or to cause detriment to the Group. It is not possible to apportion the premium between amounts relating to the insurance against legal costs and those relating to other liabilities.
PROCEEDINGS ON BEHALF OF THE CLUB No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Club, or to intervene in any proceedings to which the Club is a party, for the purpose of taking responsibility on behalf of the Club for all or part of those proceedings. No proceedings have been brought or intervened in on behalf of the Club with leave of the Court under section 237 of the Corporations Act 2001.
AUDITOR’S INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 22.
ROUNDING OF AMOUNTS The Group is of a kind referred to in ASIC Legislative Instrument 2016/191, relating to the ‘rounding off’ of amounts in the directors’ report. Amounts in the directors’ report have been rounded off in accordance with the instrument to the nearest thousand dollars, or in certain cases, to the nearest dollar. This report is made in accordance with a resolution of the directors.
WARREN SMITH OAM
DAVID CARTWRIGHT
DIRECTOR
DIRECTOR
Sydney 13 September 2023
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
21
Auditor’s Independence Declaration As lead auditor for the audit of St Marys Rugby League Club Ltd for the year ended 30 June 2023, 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.
This declaration is in respect of St Marys Rugby League Club Ltd and the entities it controlled during the period.
Manoj Santiago Partner PricewaterhouseCoopers
Sydney 13 September 2023
PricewaterhouseCoopers, ABN 52 780 433 757 One International Towers Sydney, Watermans Quay, Barangaroo, GPO BOX 2650, SYDNEY NSW 2001 T: +61 2 8266 0000, F: +61 2 8266 9999, www.pwc.com.au Level 11, 1PSQ, 169 Macquarie Street, Parramatta NSW 2150, PO Box 1155 Parramatta NSW 2124 T: +61 2 9659 2476, F: +61 2 8266 9999, www.pwc.com.au Liability limited by a scheme approved under Professional Standards Legislation.
22
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
CONTENTS OF THE
FINANCIAL STATEMENTS
ST MARYS RUGBY LEAGUE CLUB LTD
ABN 77 000 518 089 ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023
CONTENTS
PAGE
Financial statements Consolidated statement of profit or loss and other comprehensive income
24
Consolidated statement of financial position
25
Consolidated statement of changes in equity
26
Consolidated statement of cash flows
27
Notes to the consolidated financial statements
28
Directors’ declaration
40
Independent auditor’s report to the members
41
These financial statements are the consolidated financial statements of the consolidated entity consisting of St Marys Rugby League Club Ltd. A list of subsidiaries is included in note 22. The financial statements are presented in Australian dollars which is St Marys Rugby League Club Ltd’s functional and presentation currency. All amounts disclosed in the financial statements and notes have been rounded off to the nearest dollars units unless otherwise stated. St Marys Rugby Club Limited is a public company limited by guarantee, incorporated and domiciled in Australia. Its registered office and principal place of business is: Corner Forrester & Boronia Roads St Mary NSW 2760 A description of the nature of the consolidated entity’s operations and its principal activities is included in the directors’ report on page 19, which is not part of these financial statements. The financial statements were authorised for issue by the directors on 13 September 2023. The directors have the power to amend and reissue the financial statements.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
23
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2023
NOTES
2023 ($)
2022 ($)
3
49,061,928
31,246,959
4(a)
158,955
123,657
Raw materials and consumables used
(2,675,751)
(1,464,009)
Employee benefits expense
(13,129,824)
(8,804,886)
Hotel expenses
(1,694,946)
(842,128)
Rugby league expenses
(973,857)
(675,111)
(6,873,289)
(5,940,098)
Advertising and marketing expenses
(437,689)
(291,714)
Consulting and professional fees
(207,928)
(98,787)
Direct gaming expenses
(490,244)
(314,026)
Entertainment and members amenities
(1,982,671)
(1,321,188)
Gaming taxes
(9,562,826)
(6,120,953)
Insurance expenses
(655,420)
(522,172)
Repairs and maintenance
(1,432,676)
(1,131,616)
Occupancy expenses
(3,057,312)
(2,007,686)
Other expenses
(907,316)
(779,945)
(867,022)
(454,957)
4,272,112
601,340
2023 ($)
2022 ($)
Additions to permanent membership
3,000
2,300
Other comprehensive income for the year, net of tax
3,000
2,300
4,275,112
603,640
Revenue from contract with customers Other gains - net
Depreciation and amortisation expense
Finance costs - net
10, 11, 12
4(b)
Profit for the year
OTHER COMPREHENSIVE INCOME
NOTES
Total comprehensive income for the year
The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.
24
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED 30 JUNE 2023
ASSETS
NOTES
2023 ($)
2022 ($)
Current assets Cash and cash equivalents
5
12,749,124
9,880,835
Trade receivables
6
625,830
692,023
Inventories
7
313,577
274,889
Other current assets
8
976,346
808,410
Term deposits
9
5,188,126
2,171,151
19,853,003
13,827,308
Total current assets Non-current assets Property, plant and equipment
10
90,650,245
82,666,120
Right-of-use assets
11
178,879
413,791
Investment properties
12
954,946
970,724
Intangible assets
13
22,644
42,644
Total non-current assets
91,806,714
84,093,279
Total assets
111,659,717
97,920,587
LIABILITIES Current liabilities Trade and other payables
14
3,106,032
2,591,691
Contract liabilities
3(b)
174,494
244,843
Lease liabilities
11
165,133
233,039
Borrowings
15
10,000,000
-
Provisions
16
419,168
291,927
Employee benefit obligations
17
1,993,157
1,776,696
15,857,984
5,138,196
Total current liabilities Non-current liabilities Contract liabilities
3(b)
365,265
366,113
Lease liabilities
11
-
290,241
Borrowings
15
9,100,364
10,000,000
Employee benefit obligations
17
96,842
161,887
Total non-current liabilities
9,562,471
10,818,241
Total liabilities
25,420,455
15,956,437
Net assets
86,239,262
81,964,150
EQUITY Permanent membership reserve
174,500
171,500
Retained earnings
86,064,762
81,792,650
Total equity
86,239,262
81,964,150
The above consolidated statement of financial position should be read in conjunction with the accompanying notes. ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
25
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
PERMANENT MEMBERSHIP RESERVE ($)
GENERAL FUNDS ($)
TOTAL EQUITY ($)
169,200
81,191,310
81,360,510
-
601,340
601,340
Other comprehensive income
2,300
-
2,300
Total comprehensive income for the year
2,300
601,340
603,640
BALANCE AT 30 JUNE 2022
171,500
81,792,650
81,964,150
BALANCE AT 1 JULY 2022
171,500
81,792,650
81,964,150
-
4,272,112
4,272,112
Other comprehensive income
3,000
-
3,000
Total comprehensive income for the year
3,000
4,272,112
4,275,112
174,500
86,064,762
86,239,262
BALANCE AT 1 JULY 2021 Profit for the year
Profit for the year
BALANCE AT 30 JUNE 2023
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.
26
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023
2023 ($)
2022($)
Receipts from customers (inclusive of GST)
54,049,711
34,828,801
Payments to suppliers and employees (inclusive of GST)
(44,545,254)
(27,725,580)
9,504,457
7,103,221
CASH FLOWS FROM OPERATING ACTIVITIES
NOTES
Interest received
4(a)
75,714
11,944
Interest paid
4(b)
(942,736)
(466,901)
8,637,435
6,648,264
(14,638,337)
(15,657,260)
104,775
56,900
(14,533,562)
(15,600,360)
3,000
2,300
Net cash inflow from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES Payments for property, plant and equipment Proceeds from sale of property, plant and equipment Net cash (outflow) from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from permanent membership Proceeds from borrowings
9,285,364
-
Repayment of borrowings
(185,000)
-
Principal elements of lease payments
(338,948)
(175,630)
Net cash inflow (outflow) from financing activities
8,764,416
(173,330)
Net increase (decrease) in cash and cash equivalents
2,868,289
(9,125,426)
Cash and cash equivalents at the beginning of the financial year
9,880,835
19,006,261
12,749,124
9,880,835
Cash and cash equivalents at end of year
5
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
27
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This note provides a list of all significant accounting policies adopted in the preparation of these consolidated financial statements. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements are for the Group consisting of St Marys Rugby League Club Ltd and its controlled entities.
(A) BASIS OF PREPARATION These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board and the Corporations Act 2001. St Marys Rugby League Club Ltd is a not-for-profit entity for the purpose of preparing the financial statements.
(I) COMPLIANCE WITH AUSTRALIAN ACCOUNTING STANDARDS - SIMPLIFIED DISCLOSURE REQUIREMENTS The consolidated financial statements of the Group comply with Australian Accounting Standards - Simplified Disclosures as issued by the Australian Accounting Standards Board (AASB).
(II) HISTORICAL COST CONVENTION The financial statements have been prepared on a historical cost basis.
(B) PRINCIPLES OF CONSOLIDATION AND EQUITY ACCOUNTING (I) SUBSIDIARIES Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. The acquisition method of accounting is used to account for business combinations by the Group. Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.
28
(C) FOREIGN CURRENCY TRANSLATION
MEMBERSHIP SUBSCRIPTIONS
(I) FUNCTIONAL AND PRESENTATION CURRENCY
Membership subscriptions represents annual membership fees paid by the Group’s members. The Group recognises membership subscriptions over the term of the membership and any unearned portion is included in revenue received in advance.
Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’).
(II) TRANSACTIONS AND BALANCES Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognised in profit or loss. Foreign exchange gains and losses that relate to borrowings are presented in the consolidated statement of profit or loss and other comprehensive income, within finance costs. All other foreign exchange gains and losses are presented in the consolidated statement of profit or loss and other comprehensive income on a net basis within other gains/(losses).
(D) REVENUE RECOGNITION Revenue is recognised for the major business activities using the methods outlined below.
GOODS SOLD Revenue from the sale of goods compromises revenue earned from the provision of food, beverage and other goods. It is measured at the fair value of the consideration received or receivable and is recognised in the profit or loss when the significant risks and rewards of ownership have been transferred to the buyer.
SERVICE RENDERED Revenue from services rendered compromises revenue from gaming facilities together with other services to members and patrons of the Group. It is measured at the fair value of the consideration received or receivable and is recognised in profit or loss as the services are provided. No revenue is recognised if there are significant uncertainties regarding recovery of the consideration due, the costs incurred cannot be measured reliability, there is risk of return of goods or there is continuing management involvement with the goods.
REVENUE FROM HOTEL Revenue for the hotel is recognised as services provided to in house guests for accommodation, food and beverage services and conference facility room hire.
RENTAL INCOME Rental income from investment property is recognised in profit or loss on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income, over the term of the lease.
INTEREST INCOME Interest income is recognised using the effective interest method.
(E) HOTEL EXPENSES Hotel expenses represents the operational costs incurred in the day to day operations of the Hotel. This includes the cost of IHG licence fees, travel agent commissions, cleaning and laundry, hotel related utilities expense and other miscellaneous expenses. This financial statement line item does not include the salaries and wages of Hotel employees.
(F) RUGBY LEAGUE EXPENSES Rugby league expenses represents the operational costs incurred in the day to day operations of Football in the group. This includes the cost of player payments, clothing, registration, insurance, coaches, medical staff / equipment, costs of presentations, trophies, photos and videos. This financial statement line item does not include the salaries and wages of Rugby related employees.
(G) GOVERNMENT GRANTS Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions.
(H) INCOME TAX The Group is exempt under section 50-45 of the Income Tax Assessment Act 1997. Accordingly, tax effect accounting does not apply to the Group. The current subsidiaries of the Group are assessable under the Income Tax Assessment Act 1997. Deferred tax benefits have not been recognised by the subsidiaries due to uncertainty whether the subsidiaries will have future taxable profits against which temporary differences can be utilised.
COMMISSIONS
(I) LEASES
When the Group acts in the capacity of an agent rather than as the principal in a transaction, the revenue recognised is the net amount of commission made by the Group.
The Group leases various equipment. Rental contracts are typically made for fixed periods of 48 to 60 months, but may have extension options as described below.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Contracts may contain both lease and nonlease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. However, for leases of real estate for which the Group is a lessee, it has elected not to separate lease and non-lease components and instead accounts for these as a single lease component. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: •
xed payments (including in-substance fi fixed payments), less any lease incentives receivable,
• variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date, • amounts expected to be payable by the Group under residual value guarantees, • the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and • payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Group, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Group: •
•
•
here possible, uses recent third-party w financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third-party financing was received, ses a build-up approach that starts with a u risk-free interest rate adjusted for credit risk for leases held by St Marys Rugby League Club Ltd, which does not have recent thirdparty financing, and akes adjustments specific to the lease, e.g. m term, country, currency and security.
The Group is exposed to potential future increases in variable lease payments based
on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-ofuse asset. Lease payments are allocated between principal 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. Right-of-use assets are measured at cost comprising the following: • the amount of the initial measurement of lease liability, • any lease payments made at or before the commencement date less any lease incentives received, •
any initial direct costs, and
•
restoration costs.
Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. While the Group revalues its land and buildings that are presented within property, plant and equipment, it has chosen not to do so for the right-of-use buildings held by the Group. Payments associated with short-term leases of equipment and vehicles and all leases of lowvalue assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.
( J) IMPAIRMENT OF NON-FINANCIAL ASSETS Intangible 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. Other assets are tested 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 of disposal 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 inflows from other assets or groups of assets (cash-generating units). Non-financial assets are reviewed for possible reversal of the impairment at the end of each reporting year.
(K) CASH AND CASH EQUIVALENTS For the purpose of presentation in the consolidated statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
(L) TRADE RECEIVABLES Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 days and are therefore all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The Group holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method. The Group applies the AASB 9 Financial Instruments simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due.
(M) INVENTORIES Finished goods are stated at the lower of cost and net realisable value. Costs are assigned to individual items of inventory on the basis of weighted average costs. 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 of completion and the estimated costs necessary to make the sale.
(N) FINANCIAL INSTRUMENTS FINANCIAL ASSETS (I) CLASSIFICATION The Group classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through OCI or through profit or loss), and • those to be measured at amortised cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. The Group classifies its financial assets as at amortised cost only if both of the following criteria are met:
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
29
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) •
t he asset is held within a business model whose objective is to collect the contractual cash flows, and
•
t he contractual terms give rise to cash flows that are solely payments of principal and interest.
The Group’s financial assets at amortised cost includes cash and short-term deposits, loan receivables and trade and other receivables. The Group does not have any financial assets measured subsequently at fair value (either through OCI or through profit or loss).
(II) RECOGNITION AND DERECOGNITION Regular way purchases and sales of financial assets are recognised on trade date, being the date on which the Group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.
(III) MEASUREMENT At initial recognition, the Group measures a financial asset at its fair value. Subsequent to initial recognition, assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as a separate line item in the consolidated statement of profit or loss and other comprehensive income.
(IV) IMPAIRMENT The Group assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortised cost. The impairment methodology applied depends on whether there has been a significant increase in credit risk.
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the consolidated statement of profit or loss and other comprehensive income.
(II) MEASUREMENT Subsequent to initial recognition financial liabilities are recognised at amortised cost using the effective interest method.
Investment properties are stated at cost less accumulated depreciation and impairments losses. Depreciation is charged to profit or loss on a straight- line basis over the estimated useful lives of each part of the property. Land is not depreciated. The estimated useful life of buildings in the current and comparative years is 40 years. Cost includes expenditure that is directly attributable to the acquisition of the investment property. Subsequent cost is recognised in the carrying amount of the investment property.
(Q) INTANGIBLE ASSETS LICENCES
Financial assets and financial liabilities are offset and the net amount presented in the consolidated statement of financial position when, and only when, the Group currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realise the asset and settle the liability simultaneously.
Poker machine game licences and hotel licences are shown at historical cost. They are recognised at fair value at the acquisition date. They have indefinite useful lives as they have no expiry date. Such intangible assets are not amortised but systematically tested for impairment.
(O) PROPERTY, PLANT AND EQUIPMENT 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 Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting year in which they are incurred. Depreciation is calculated using the straightline method to allocate the cost of the assets, net of their residual values, over their estimated useful lives as follows: 40 years
• Grandstand and playing fields
40 years
For trade receivables, the Group applies the simplified approach permitted by AASB 9 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables, see note 1(l) for further details.
• Plant and equipment
4-10 years
FINANCIAL LIABILITIES
An asset’s 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(j)).
(I) RECOGNITION AND DERECOGNITION
(P) INVESTMENT PROPERTIES Investment properties are held for long-term rental yields and are not occupied by the Group. They are measured at cost.
(III) OFFSETTING
• Buildings
All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group’s
30
financial liabilities include trade and other payables and borrowings.
• Grandstand plant and equipment 10 years • Hotel
40 years
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting year.
Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss.
(R) TRADE AND OTHER PAYABLES These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.
(S) CONTRACT LIABILITIES A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods or services to the customer, a contract liability is recognised when the payment is made or the payment is due (whichever is earlier). Contract liabilities are recognised as revenue when the company performs under the contract.
(T) BORROWINGS 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 profit or loss over the year of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
In this case, the fee is deferred until the drawdown occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the year of the facility to which it relates. Borrowings are removed from the consolidated statement of financial position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting year.
(U) BORROWING COSTS Borrowing costs are expensed in the year in which they are incurred
(V) PROVISIONS Provisions are recognised when the Group 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 can be reliably estimated. Provisions are not recognised for future operating losses. 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 end of the reporting year. The discount rate used to determine the present value is a pre-tax rate that 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 interest expense.
(W) EMPLOYEE BENEFITS (I) SHORT-TERM OBLIGATIONS Liabilities for wages and salaries, including nonmonetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the consolidated statement of financial position.
(II) O THER LONG-TERM EMPLOYEE BENEFIT OBLIGATIONS The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss. The obligations are presented as current liabilities in the consolidated statement of financial position if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting date, regardless of when the actual settlement is expected to occur.
(III) R ETIREMENT BENEFIT OBLIGATIONS Contributions to the defined contribution section of the Group’s superannuation plan and other independent defined contribution superannuation funds are recognised as an expense as they become payable. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.
(X) GOODS AND SERVICES TAX (GST) Revenues, expenses and assets are recognised net of the amount of associated 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 consolidated 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.
(Y) PARENT ENTITY FINANCIAL INFORMATION The financial information for the parent entity, St Marys Rugby League Club Ltd, disclosed in note 25 has been prepared on the same basis as the consolidated financial statements, except as set out below.
INVESTMENTS IN SUBSIDIARIES Investments in subsidiaries are accounted for at cost in the financial statements of St Marys Rugby League Club Ltd. Dividends received are recognised in the parent entity’s profit or loss when its right to receive the dividend is established.
2 CRITICAL ESTIMATES AND JUDGEMENTS The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management also needs to exercise judgement in applying the Group’s accounting policies.
(A) S IGNIFICANT ESTIMATES AND JUDGEMENTS Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances.
(B) C RITICAL ACCOUNTING ESTIMATES AND ASSUMPTIONS The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
(I) IMPAIRMENT AND CARRYING VALUES OF PROPERTY, PLANT AND EQUIPMENT AND INVESTMENT PROPERTIES The Group carries its investment properties and property, plant and equipment at cost. The company obtains independent valuations at least once every 3 years. At the end of each reporting period, the directors update their assessment of the assets recoverable amount, taking into account the most recent independent valuations. The recoverable amount assessment at reporting date includes the best estimates of the current economy impacts and using information available at the time of preparation of the financial statements.
(II) TAX CRITICAL ESTIMATE St Mary Rugby League Club was deemed to be Sporting Tax Exempt by the Federal Court of Australia, as in part, rugby league was the major object in the Club’s rules.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
31
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
3 REVENUE FROM CONTRACT WITH CUSTOMERS REVENUE FROM CLUB OPERATIONS
2023 ($)
2022 ($)
Revenue from gaming
35,412,846
23,897,360
Revenue from beverages
4,619,442
2,430,592
615,419
404,587
Revenue from food
1,417,499
768,799
Rent and commissions
1,062,442
662,139
Sponsorship and advertising income
430,659
301,668
Membership subscriptions and player registrations
266,382
179,605
Other income
619,871
472,326
44,444,560
29,117,076
4,476,167
2,085,221
141,201
44,662
4,617,368
2,129,883
49,061,928
31,246,959
Revenue from raffle, bingo and entertainment
REVENUE FROM HOTEL OPERATIONS Revenue from accommodation Revenue from food
TOTAL REVENUE (A) DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS
The Group derives revenue from the transfer of goods and services over time and at a point in time in the following major product lines:
REVENUE FROM CLUB OPERATIONS ($)
REVENUE FROM HOTEL OPERATIONS ($)
TOTAL ($)
2023 Timing of revenue recognition At a point in time
43,210,503
141,201
43,351,704
Over time
1,234,057
4,476,167
5,710,224
44,444,560
4,617,368
49,061,928
28,267,349
44,662
28,312,011
849,727
2,085,221
2,934,948
29,117,076
2,129,883
31,246,959
2022 Timing of revenue recognition At a point in time Over time
(B) ASSETS AND LIABILITIES RELATED TO CONTRACTS WITH CUSTOMERS The Group has recognised the following assets and liabilities related to contracts with customers:
32
2023 ($)
2022 ($)
Unearned revenue - current
174,494
244,843
Unearned revenue - non-current
365,265
366,113
Total contract liabilities
539,759
610,956
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
4 OTHER INCOME AND EXPENSE ITEMS 2023 ($)
2022 ($)
Net gain/(loss) on disposal of property, plant and equipment
92,361
(3,285)
Other income
66,594
126,942
158,955
123,657
2023 ($)
2022 ($)
Interest income
75,714
11,944
Finance income
75,714
11,944
(A) OTHER GAINS
(B) FINANCE COSTS FINANCE INCOME
FINANCE COSTS Interest and finance charges paid/payable
(559,874)
(230,610)
Borrowing costs
(377,171)
(217,628)
(5,691)
(18,663)
Finance costs expensed
(942,736)
(466,901)
Net finance costs
(867,022)
(454,957)
5 CASH AND CASH EQUIVALENTS
2023 ($)
2022 ($)
Cash at bank and in hand
12,749,124
9,880,835
6 TRADE RECEIVABLES
2023 ($)
2022 ($)
Trade receivables
625,830
692,023
7 INVENTORIES
2023 ($)
2022 ($)
Finished goods – at cost
313,577
274,889
Interest and finance charges paid/payable for lease liabilities
Amounts recognised in profit or loss Inventories recognised as expense during the year ended 30 June 2023 amounted to $2,675,751 (2022:$1,464,009). These were included in raw materials and consumables used.
8 OTHER CURRENT ASSETS
2023 ($)
2022 ($)
934,585
766,649
41,761
41,761
976,346
808,410
9 TERM DEPOSITS
2023 ($)
2022 ($)
Term deposits (maturity greater than 3 months)
5,188,126
2,171,151
Prepayments Insurance claim receivable
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
33
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
10 PROPERTY, PLANT AND EQUIPMENT Hotel ($)
Land ($)
Grandstand & playing fields ($)
Cost
25,275,745
4,607,764
7,383,156
48,087,362
40,145,274
1,542,241
15,784,190
142,825,732
Accumulated depreciation
(5,897,048)
-
(3,211,615)
(17,610,709)
(32,122,491)
(1,317,749)
-
(60,159,612)
Net book amount
19,378,697
4,607,764
4,171,541
30,476,653
8,022,783
224,492
15,784,190
82,666,120
19,378,697
4,607,764
4,171,541
30,476,653
8,022,783
224,492
15,784,190
82,666,120
Additions
29,049
-
140,720
-
3,634,306
633
10,833,629
14,638,337
Disposals
-
-
-
-
(12,414)
-
-
(12,414)
Transfers
-
-
-
25,716,884
869,784
-
(26,586,668)
-
Depreciation charge
(1,035,462)
-
(238,590)
(2,091,098)
(3,213,691)
(62,957)
-
(6,641,798)
Closing net book amount
18,372,284
4,607,764
4,073,671
54,102,439
9,300,768
162,168
31,151
90,650,245
Cost
25,304,399
4,607,764
7,523,876
73,804,247
44,049,228
1,543,270
31,151
156,863,935
Accumulated depreciation
(6,932,115)
-
(3,450,205)
(19,701,808)
(34,748,460)
(1,381,102)
-
(66,213,690)
18,372,284
4,607,764
4,073,671
54,102,439
9,300,768
162,168
31,151
90,650,245
Buildings ($)
Plant & equipment ($)
Grandstand plant & Assets under equipment construction ($) ($)
Total ($)
At 30 June 2022
Year ended 30 June 2023 Opening net book amount
At 30 June 2023
Net book amount
(A) VALUATIONS OF LAND AND BUILDINGS HOTEL An independent valuation was carried out by Global Valuation Services (Valuer No 67391) on the 15 September 2020, on the basis of the capitalisation estimated net income approach (level 2 inputs) which resulted in a valuation of $21,500,000. Consequently, an impairment loss of $937,144 was recognised in 2020. The following table shows the valuation technique used in measuring the fair value of the hotel as well as significant
VALUATION TECHNIQUE
SIGNIFICANT ASSUMPTIONS USED**
Income capitalisation approach and direct comparison approach : The consolidated entity considers both approaches, and reconciles and weighs the estimates under each technique based on its assessment of the judgement that market participants would apply. The income capitalisation approach is based on the principle that the value of a property is indicated by its net return. Direct comparison approach is based on the assumption that an informed buyer will pay no more for a property than the cost of acquiring an existing property with similar utilities.
*Average room rate $130 *Average occupancy rate 50% *Capitalisation rate 6.5%
** If these assumptions were to change ( either increase or decrease) a further impairment charge will be required or reversed. The directors are of the opinion that the valuation obtained is reflective of the best available information as at the date of signing this annual report.
34
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
11 LEASES This note provides information for leases where the Group is a lessee.
(A) AMOUNTS RECOGNISED IN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION The consolidated statement of financial position shows the following amounts relating to leases:
2023 ($)
2022 ($)
178,879
413,791
165,133
233,039
-
290,241
165,133
523,280
2023 ($)
2022 ($)
165,133
232,409
-
290,241
165,133
522,650
Right-of-use assets Gaming machines Lease liabilities Current Non-current
Future lease payments in relation to lease liabilities as at year end are as follows:
Within one year Later than one year but not later than five years
Additions to the right-of-use assets during the 2023 financial year were $nil (2022: $nil).
(B) AMOUNTS RECOGNISED IN THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME The consolidated statement of profit or loss and other comprehensive income shows the following amounts relating to leases:
2023 ($)
2022 ($)
215,713
135,004
2023 ($)
2022 ($)
At cost
1,365,000
1,365,000
Accumulated depreciation
(410,054)
(394,276)
954,946
970,724
Opening balance at 1 July
970,724
986,501
Depreciation
(15,778)
(15,777)
Closing balance at 30 June
954,946
970,724
Depreciation charge of right-of-use assets Gaming machines
12 INVESTMENT PROPERTIES
(I) LEASING ARRANGEMENTS The Group leases out its investment property held under cancellable lease arrangements. During the year $170,007 was recognised as rental income in profit or loss (2022: $161,506). Repairs and maintenance expenses in respect to investment properties were borne by the lessee.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
35
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
13 INTANGIBLE ASSETS HOTEL LICENCES ($)
POKER MACHINE LICENCES ($)
TOTAL ($)
Cost
226,960
22,644
249,604
Accumulated amortisation and impairment
(206,960)
-
(206,960)
20,000
22,644
42,644
Opening net book amount
20,000
22,644
42,644
Write-off adjustment
(20,000)
-
(20,000)
-
22,644
22,644
Cost
226,960
22,644
229,604
Accumulated amortisation and impairment
(206,960)
-
(206,960)
-
22,644
22,644
2023 ($)
2022 ($)
Trade payables
1,083,450
1,133,359
Other payables and accrued expenses
2,022,582
1,458,332
3,106,032
2,591,691
NON-CURRENT ASSETS At 30 June 2022
Net book amount Year ended 30 June 2023
Closing net book amount At 30 June 2023
Net book amount
14 TRADE AND OTHER PAYABLES
The following table shows the carrying amounts of trade and other payables split between financial liabilities and non-financial liabilities:
2023 ($)
2022 ($)
Financial liabilities measured at amortised cost
1,083,450
1,133,359
Non-financial liabilities
2,022,582
1,458,332
3,106,032
2,591,691
15 BORROWINGS 2023($)
2022 ($)
Current ($)
Non-current ($)
Total ($)
Current ($)
Non-current ($)
Total ($)
Bank loans
10,000,000
9,100,364
19,100,364
-
10,000,000
10,000,000
Total secured borrowings
10,000,000
9,100,364
19,100,364
-
10,000,000
10,000,000
Secured
36
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
(I) TERMS AND CONDITIONS As at 30 June 2023 a facility worth $10,000,000 was repayable at 31 August 2023 and hence is classified as current. Subsequent to year, the Commonwealth Bank of Australia authorised the extension of the facility for another 3 years to 24 August 2026. This authorisation was received on 2 August 2023 via email and formalised via signed agreement on 21 August 2023. This facility will be classified as non current in the subsequent annual report.
(II) SECURED LIABILITIES AND ASSETS PLEDGED AS SECURITY The lease liabilities are secured by the underlying leased assets to which the liability relates to. The bank loan is secured by registered first mortgages over the assets of the Group as follows: • A registered mortgage by St Marys Rugby League Club Limited over the commercial property situated at Corner Forrester & Boronia Road, St Marys NSW but excluding Lots 311,183-197 Boronia Road, St Marys. •
A registered equitable mortgage by St Marys Rugby League Club Limited over the whole of its assets and undertakings including uncalled capital.
•
A guarantee unlimited as to the amount by SMRLC Investments Pty Ltd.
16 PROVISIONS
2023 ($)
2022 ($)
Poker machine links
256,095
185,393
Poker machine points
163,073
106,534
419,168
291,927
(A) INFORMATION ABOUT INDIVIDUAL PROVISIONS POKER MACHINE LINKS The provision for poker machine links represents the Group’s estimated present obligation to members and visitors in respect of poker machine link payouts promotions. The provisions are expected to be realised within 12 months of the reporting date.
POKER MACHINE POINTS The provision is made to members for who have accumulated loyalty points throughout the Club. The points for the three lower tiers are cleared each year, the remaining loyalty tiers remain for use throughout the following year.
(B) MOVEMENTS IN PROVISIONS Movements in each class of provision during the financial year are set out below:
POKER MACHINE POINTS ($)
2023 Carrying amount at start of year
POKER MACHINE LINKS ($)
TOTAL ($)
106,534
185,393
291,927
56,539
70,702
127,241
163,073
256,095
419,168
Charged/(credited) to profit or loss -additional provisions recognised Carrying amount at end of year
17 EMPLOYEE BENEFIT OBLIGATIONS 2023 ($)
Leave obligations
2022 ($)
Current ($)
Non-current ($)
Total ($)
Current ($)
Non-current ($)
Total ($)
1,993,157
96,842
2,089,999
1,776,696
161,887
1,938,583
(A) LEAVE OBLIGATIONS The leave obligations cover the Group’s liabilities for long service leave and annual leave which are classified as either other long-term benefits or short-term benefits, as explained in note 1(w).
(B) AMOUNTS RECOGNISED IN PROFIT AND LOSS IN RELATION TO DEFINED CONTRIBUTION PLANS The Group has recognised expenses of $1,000,949 in the current period (2022: $630,551) in relation to defined contribution plans which are included in employee benefit expenses in the consolidated statement of profit or loss and other comprehensive income.
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
37
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
18 REMUNERATION OF AUDITORS During the year the following fees were paid or payable for services provided by the auditor of the parent entity, St Marys Rugby League Club Ltd, its related practices and non-related audit firms: PwC
(I) AUDIT AND OTHER ASSURANCE SERVICES
2023 ($)
2022 ($)
Audit and review of financial statements
108,000
81,000
Total remuneration for audit and other assurance services
108,000
81,000
2023 ($)
2022 ($)
Compilation of financial statements
9,000
9,000
Total remuneration for other services
9,000
9,000
Total remuneration of PwC Australia
117,000
90,000
2023 ($)
2022 ($)
(II) OTHER SERVICES
19 CONTINGENCIES The Group had no contingent liabilities at 30 June 2023 (2022: $nil).
20 COMMITMENTS The Group had no capital commitments as at 30 June 2023 (2022: $nil).
21 RELATED PARTY TRANSACTIONS (A) SUBSIDIARIES Interests in subsidiaries are set out in note 22.
(B) KEY MANAGEMENT PERSONNEL COMPENSATION Total key management personnel compensation
1,067,653
815,946
Director honarariums and other related expenses
67,626
54,685
(C) TRANSACTIONS WITH OTHER RELATED PARTIES (I) PURCHASES FROM ENTITIES CONTROLLED BY KEY MANAGEMENT PERSONNEL The Group acquired the following goods and services from entities that are controlled by members of the Group’s key management personnel: •
Ben Cartwright, a son of David Cartwright, was employed as a casual employee from 16 May 2017 and subsequently moved to part-time on the 19 July 2019, and was remunerated on normal terms and conditions.
•
rittany Borg, daughter of Joe Borg, was awarded the renewal of the contract to run the canteen at Kingsway under the same terms and B conditions as previous contract.
•
J asmine Dicker, a daughter of Matthew Dicker, was employed as a casual employee from 14 March 2018, and was remunerated on normal terms and conditions.
From time to time, directors of the company, or their director- related entities, may purchase goods or services from the Group. These purchases are on the same terms and conditions as those entered into by other employees or customers and are trivial or domestic in nature.
22 INTERESTS IN OTHER ENTITIES MATERIAL SUBSIDIARIES The Group’s principal subsidiaries at 30 June 2023 are set out below. Unless otherwise stated, they have share capital consisting solely of ordinary shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place of business.
38
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
PLACE OF BUSINESS/ COUNTRY OF INCORPORATION
NAME OF ENTITY
OWNERSHIP INTEREST HELD BY THE GROUP 2023 (%) 2022 (%)
SMRLC Investments Pty Ltd
Australia
100
100
SMRLC Pty Limited (as trustee of SMRLC Trust 1)
Australia
100
100
23 LIMITATION OF MEMBERS’ LIABILITY The company is incorporate and domiciled in Australia as a public company limited by guarantee. In accordance with the constitution of the company, every member of the company undertakes to contribute an amount limited to $4 per member in the event of the winding up of the company during the time he or she is a member or within one year thereafter. At 30 June 2023, number of members of this company was 53,250 members (2022: 46,203).
24 EVENTS OCCURRING AFTER THE REPORTING PERIOD Subsequent to year, the Commonwealth Bank of Australia authorised the extension of the facility for another 3 years to 24 August 2026. This authorisation was received on 2 August 2023 via email and formalised via signed agreement on 21 August 2023. This facility will be classified as non current in the subsequent annual report. No other matter or circumstance has occurred subsequent to year end that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or the state of affairs of the Group or economic entity in subsequent financial years.
25 PARENT ENTITY FINANCIAL INFORMATION (A) SUMMARY FINANCIAL INFORMATION The individual financial statements for the parent entity, St Marys Rugby League Club Ltd, show the following aggregate amounts:
STATEMENT OF FINANCIAL POSITION
2023 ($)
2022 ($)
Current assets
64,819,505
13,440,893
Non-current assets
73,522,943
87,716,773
138,342,448
101,157,666
48,675,282
4,245,097
590,783
11,323,139
Total liabilities
49,266,065
15,568,236
Net assets
89,076,383
85,589,430
Retained earnings
89,076,383
85,589,430
Total equity
89,076,383
85,589,430
Profit for the year
3,486,953
106,750
Total comprehensive income
3,486,953
106,750
Total assets Current liabilities Non-current liabilities
Shareholders’ equity
(B) GUARANTEES ENTERED INTO BY THE PARENT ENTITY The parent entity has provided financial guarantees in respect of bank overdrafts and loans of subsidiaries secured by registered mortgages over the freehold properties of the subsidiaries. Please refer to note 15 for details.
(C) CONTINGENT LIABILITIES OF THE PARENT ENTITY The parent entity did not have any contingent liabilities as at 30 June 2023 or 30 June 2022.
(D) CONTRACTUAL COMMITMENTS FOR THE ACQUISITION OF PROPERTY, PLANT OR EQUIPMENT As at 30 June 2023, the parent entity had no contractual commitments for the acquisition of property, plant or equipment (2022: $nil).
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
39
DIRECTORS’ DECLARATION
IN THE DIRECTORS’ OPINION: (a) the financial statements and notes set out on pages 24 to 39 are in accordance with the Corporations Act 2001, including: (i) c omplying with Australian Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements, and (ii) g iving a true and fair view of the consolidated entity’s financial position as at 30 June 2023 and of its performance for the financial year ended on that date, and (b) there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the directors.
WARREN EARL SMITH OAM Director
DAVID CARTWRIGHT Director Sydney 13 September 2023
40
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Independent auditor’s report To the members of St Marys Rugby League Club Ltd
Our opinion In our opinion: The accompanying financial report of St Marys Rugby League Club Ltd (the Company) and its controlled entities (together the Group) is in accordance with the Corporations Act 2001, including: (a)
giving a true and fair view of the Group's financial position as at 30 June 2023 and of its financial performance for the year then ended
(b)
complying with Australian Accounting Standards - Simplified Disclosures and the Corporations Regulations 2001.
What we have audited
The Group financial report comprises: •
the consolidated statement of financial position as at 30 June 2023
•
the consolidated statement of changes in equity for the year then ended
•
the consolidated statement of cash flows for the year then ended
•
the consolidated statement of profit or loss and other comprehensive income for the year then ended
•
the notes to the consolidated financial statements, which include significant accounting policies and other explanatory information
•
the directors’ declaration.
Basis for opinion 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional & 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 report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
PricewaterhouseCoopers, ABN 52 780 433 757 One International Towers Sydney, Watermans Quay, Barangaroo, GPO BOX 2650, SYDNEY NSW 2001 T: +61 2 8266 0000, F: +61 2 8266 9999 Level 11, 1PSQ, 169 Macquarie Street, Parramatta NSW 2150, PO Box 1155 Parramatta NSW 2124 T: +61 2 9659 2476, F: +61 2 8266 9999 Liability limited by a scheme approved under Professional Standards Legislation. ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
41
Other information The directors are responsible for the other information. The other information comprises the information included in the annual report for the year ended 30 June 2023, but does not include the financial report and our auditor’s report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon through our opinion on the financial report. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Responsibilities of the directors for the financial report The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards - Simplified Disclosures and the Corporations Act 2001 and 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 directors are responsible for assessing the ability of the Group 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 Group or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial report 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 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 the financial report. 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/auditors_responsibilities/ar3.pdf. This description forms part of our auditor's report. Matters relating to the electronic presentation of the audited financial report This auditor’s report relates to the financial report of St Marys Rugby League Club Ltd for the year ended 30 June 2023 included on St Marys Rugby League Club Ltd's web site. The directors of the
42
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Company are responsible for the integrity of St Marys Rugby League Club Ltd's web site. We have not been engaged to report on the integrity of this web site. The auditor’s report refers only to the financial report named above. It does not provide an opinion on any other information which may have been hyperlinked to/from the financial report. If users of this report are concerned with the inherent risks arising from electronic data communications they are advised to refer to the hard copy of the audited financial report to confirm the information included in the audited financial report presented on this web site.
PricewaterhouseCoopers
Manoj Santiago Partner
ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089
Sydney 13 September 2023
43
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ST MARYS RUGBY LEAGUE CLUB LTD & ITS CONTROLLED ENTITIES | ABN 77 000 518 089