WELCOME
to the 2025 Annual General Meeting Report containing the 2024 consolidated financials for the Swimming Pool & Spa Association of Australia Ltd (SPASA) and its subsidiaries forming the SPASA Group.
SPASA proudly stands as a member-driven entity committed to educating individuals and propelling the growth of the pool, spa, and outdoor lifestyle sectors.
Throughout 2024, SPASA affirmed its position as the foremost nonprofit organisation for all stakeholders in the swimming pool and spa industry including leading manufacturers, suppliers, retailers, consultants, pool builders and technicians, subcontractors, installers, and associated allied professions/trades
OUR PURPOSE
OUR VISION
To deliver a better, happier and healthier community, through the enjoyment of a quality pool or spa. OUR MISSION
To protect, promote and grow the swimming pool and spa industry.
OUR STRUCTURE
SPASA is strategically structured and thoroughly resourced to deliver meaningful support through initiatives, programs, and activities that align with one or more of the organisation’s five key pillars These pillars, Training, Engagement, Advocacy, Marketing, and Support, form the foundation of SPASA’s commitment to its members and the wider pool and spa industry.
Each pillar represents a focused area of development, allowing the association to provide tailored, practical benefits that address both immediate and long-term industry needs
By actively investing in these core areas, SPASA ensures it remains responsive, relevant, and effective in driving professional growth, elevating standards, and championing the interests of its members across all sectors
TE A M S
TRAINING
Development of the industry and it’s professions
ENGAGEMENT
Deliver products and services to all members
ADVOCACY
Responsible outcomes for members and community
MARKETING
Market members and pool and spa ownership
SUPPORT
Consistent improvement for the association
OUR BOARD
Anthony Grice
Andrew Pullen Managing Director Vortex Leisure
Tom B Managing Director Ripple Pools
Valentina Tripp Independent Director
Steven Humphris Managing Director Focus Products
Brandon Hill Multi Store Franchise Owner Swimart
Lynley Papineau
Chairman
FROM OUR CHAIR
I am honoured to report on a year of significant achievement for SPASA, as we continue to grow stronger as the national peak body for the Pool and Spa industry. Despite a complex economic environment, SPASA has remained focused, resilient and committed to delivering real value to our members
While the ongoing economic uncertainty has presented challenges across the industry, from consumer spending to project pipelines, it has also reinforced the importance of a united and strategic voice for our sector Through these headwinds, SPASA has remained steadfast in its support for members, advocating for positive change and maintaining the highest standards across the board
Our strategic priorities this year have centred on strengthening SPASA’s role nationally: building influence, expanding industry training, refining exclusive member offerings, and promoting our members through impactful marketing and consumer engagement This work is not just about responding to todays needs, but about building long-term value for the future
Our investment extends beyond bricks and mortar we continue to develop long-term assets through the expansion of our people, systems, brands and member services. These elements form the foundation of an organisation built for sustainability and leadership
I would like to sincerely thank all SPASA members for your ongoing support and engagement throughout the year Your dedication is the cornerstone of our collective success
I also extend my heartfelt thanks to my fellow Directors on the SPASA Board for their strategic insight, steady governance and commitment to our shared goals Your contributions are invaluable to the direction of our Association
On behalf of the Board, I thank Lindsay and the entire SPASA team for their tireless efforts and unwavering commitment to excellence. Your work continues to elevate SPASA and the entire Pool and Spa industry
Congratulations to all members for your continued innovation and professionalism we look forward to an even stronger 2025.
Anthony Grice
Chairman, SPASA
REPORT FROM THE
FINANCE AUDIT AND
COMPLIANCE COMMITTEE
It is my pleasure to submit to members the consolidated financial update of the 2024 calendar year for the Swimming Pool & Spa Association of Australia Ltd (SPASA) The external audit was conducted by William Buck Accountants and Advisors for the year ending 31 December 2024
SPASA reports on all legal entities in a consolidated manner, which include:
Swimming Pool & Spa Association of Australia Ltd
Institute of Research and Learning Ltd
Pool and Spa Association (NZ)
Swimming Pool and Spa Association of Victoria Ltd (T/A Master Pool Builders)
SPASA CGT Ltd
SPASA Australia Benefits Pty Ltd
Leisure Media Ltd
Membership revenue increased for the eighth consecutive year to $1,662,265, representing a 22% increase from the prior year With a full year of contributions from newly merged members, SPASA undertook a review of membership category allocations This, combined with a cleansed database and new applications, led to higher total revenue from membership, despite a modest decline in membership volume to 1,719 member organisations.
Total revenue reached an all-time high of $12,184,969, a 41% increase over the prior year This growth was driven primarily by membership and event income, reflecting strong member engagement and support across all areas of SPASA’s value proposition Event income grew by $2,469,180 (74%), with the return of the biennial SPLASH! Trade Expo and the Pool Spa Life Expo in Victoria merged into the group.
SPASA continues to invest in its people to deliver increased value to members, while also developing its brands, products, and services, including a focus on education and training The consolidation of staff from the 2023 mergers, alongside the investment in the senior leadership team, contributed to a $565,312 increase in total employee benefits expense compared to the prior year
A total of $1,095,573 was invested in education through the Institute of Research and Learning Registered Training Organisation subsidiary, supporting content development and student/member services.
SPASA remains committed to building a strong and sustainable financial base, supporting its mission to protect and promote member businesses For the year ended 31 December 2024, a net surplus of $645,814 was recorded, representing a 5 3% return on members’ funds
The balance sheet strengthened further, with net assets and total equity of $9,628,405. Cash flow management remains strong, with cash and cash equivalents (including term deposits) of $6,466,693, representing 53% of total revenue
HISTORICAL KEY FINANCIALS
It has been a pleasure to be part of the Finance, Audit and Compliance Committee sitting alongside my fellow committee members Brandon Hill, Andrew Pullen and Peter Zukowski, whom I thank for their generous donation of time. I would like to take this opportunity to thank Paul Kimber SPASA Chief Financial Officer for his skill and support of the industry body
I have had the opportunity to see behind the scenes working with Lindsay, Paul and the whole SPASA team to see first-hand the executive’s investment in members, assets and people to secure the future of the Association. It has been a privilege to Chair the committee, knowing the members are so well supported
Anthony Cross Finance, Audit and Compliance Committee Chairperson
FROM OUR CEO
Writing this report brings with it a genuine feeling of nostalgia, as it marks my final annual report after nine years as Chief Executive Officer of SPASA Recently, following the announcement of my resignation, I was reminded of an open letter I wrote in 2008 In it, I called for the formation of a national body, national qualifications, and a stronger effort to promote our industry. To now witness how far we’ve come is both humbling and deeply fulfilling.
Throughout the past year, we’ve remained focused on the evolving needs of our members A key priority has been the growing influence of SPLASH! and now Leisure Media across the aquatics commercial sector. The standards that govern large aquatic facilities increasingly impact the thousands of smaller commercial pools our members build and maintain each day. In response, SPASA made a strategic investment in Australasian Leisure Media in December 2023 This acquisition enhances our ability to inform, influence and support the sector, building on the success of our previous media integrations, including SPLASH!, Pool & Spa, and Aqua
As we enter 2025 SPASA’s role as a collaborative and forward-thinking industry leader continues to grow. Our proactive, strategic approach has strengthened our advocacy voice, deepened relationships with governments and regulatory bodies, and positioned IRLearning as the sectors leading RTO Receiving new codes from Occupation Standard Classification for Australia (OSCA) acknowledge our trades and a boost in traineeship numbers was a pipe dream when I started and now a reality. These outcomes reflect our unwavering commitment to creating practical solutions that deliver lasting value for members.
Together, we continue to elevate our presence in the consumer space with the Pool, Spa, Life brand, driving sustainability, innovation, and opportunity We enter 2025 with confidence in our collective strength and a clear focus on the future
Master Pool Builders further extends our support of Members as a mentoring, best practice venture that we hope will expand to further the Masters committee and member groups SPASA’s recognition this year included a No 89 ranking in the AFR Fast 100 and finalist honours in multiple national awards reflects the dedication to financial security of the association and the excellence of our entire community.
To our members, board, employees, and industry partners - thank you Your support, collaboration and trust have shaped this journey, and I am truly grateful It has been a privilege to lead SPASA through such a transformative chapter I leave proud handing over to the amazing leaders across all the SPASA divisions who will take SPASA to the next level I look forward to watching the Association continue to thrive.
Lindsay McGrath
Chief Executive Officer, SPASA Australia
NEW TRAINEESHIPS
This year marked a significant milestone with the approval of the CPP31218 Certificate III in Swimming Pool and Spa Service for delivery as a school-based traineeship in New South Wales.
This initiative creates exciting opportunities for high school students to gain industry-relevant skills while completing their secondary education, opening up direct pathways into employment It also strengthens the future workforce pipeline for the swimming pool and spa service sector by engaging young talent earlier and supporting them through nationally recognised training
E-LEARNING AND WORKSHOPS
In response to growing demand for flexible and accessible training, IRLearning launched a suite of new products, including fully online E-Learning modules and industry-focused workshops available both online and in-person
These offerings allow learners to build their knowledge at their own pace while also engaging in hands-on, practical sessions that reinforce key competencies. The workshops have proven popular with both individuals and businesses seeking upskilling opportunities, and they reflect our commitment to providing targeted, job-ready training solutions for industry
LEADING POOL AND SPA TRAINING
We are proud to report that the Institute of Research and Learning is now the leading provider in Australia for both the Certificate III in Swimming Pool and Spa Service and the Certificate IV in Swimming Pool and Spa Building qualifications
This recognition reflects the strength of our industry partnerships, our commitment to highquality training delivery, and our niche focus on the pool and spa sector. It also reinforces our role as a trusted provider for both learners and employers across the country
Photo Credit - Institute of Research and Learning
TFUTURE EXPANSION
Progression with the Workforce Development Council in New Zealand to have a pool building qualification formally developed and approved for delivery.
IRLearning is working closely with the Workforce Development Council in New Zealand to support the development and formal approval of a Pool Building qualification for local delivery
This initiative aims to address growing industry demand in New Zealand by establishing structured training pathways and nationally recognised qualifications for pool builders
DIPLOMA OF LEADERSHIP
AND
Developed in collaboration with industry experts, the program will provide a valuable pathway for those looking to formalise their experience and take the next step in their career or business journey. C O M I N G S O O N C O M I N G S O O N
MANAGEMENT
Contextualised for the Industry
IRLearning is soon to launch a contextualised Diploma of Leadership and Management, specifically designed for leaders, supervisors, and business owners within the pool and spa industry.
This qualification combines essential leadership and business management skills with real-world examples and case studies from the sector, ensuring relevance and immediate workplace application.
Rachael Bambry, Executive Manager of Training
E ENGAGMENT
MEMBER ENGAGMENT STRATEGY
Industry Forum & Events
Key Members Categories
Identify New Membership Categories (Pool Barrier Inspectors, Students)
Implement Clear Processes
Streamline Systems to Enable Transparent Communication
Cross Team Collaboration
Concrete Pool up to $180,000, Apex Pools and Spas
E N G A G E M E N T E N G A G E M E N T
2025 ENGAGEMENT STRATEGY
SMARTER SYSTEMS
We have developed a new Salesforce Eco-system, building a connected and dedicated platform around our members. We have identified key pain points and opportunities in our existing setup, we partnered a Salesforce industry leader, specialising in membership solutions, to comprehensively support our redesign This transformation enables us to leverage a 360-degree view of our members, bringing together insights, as we capture member engagement
ELEVATED PROCESSES
In preparation of our new Eco System, we have introduced enhancements, to improve efficiency and response times An updated members joining process, along with an overall reduction in manual processing, and emphasis on providing our members with a more seamless approach when it comes to onboarding New call-out procedures for Regional Managers have propelled renewal engagement, and administrative tasks have been centralised to optimise team capacity. These efforts are building a more streamlined and scalable membership operation.
A NEW MEMBER PORTAL
A new member portal is currently being designed and built with the voice of our members driving these enhancements. The new member portal will present less like a website, and be built to support real member needs, a kiosk to facilitate logging a support ticket, with real-time status’ . Members will have the functionality to submit a Technical Enquiry, a Finance Enquiry, a Membership Enquiry, an Application for Climate Care Certification, and an Application to become a Master Pool Builder, these requests will be directly sent to the relevant teams for review and response Members will be able to purchase useful resources, such as contracts, with the insights to be reportable, providing our Advocacy with real time data to assess trends.
Our Members will also be able to display their Continuing Professional Development (CPD) points on their Member Portal Dashboard - a combination of SPASA accrued CPD, which can be added by our Advocacy team, and further, a self-declared CPD points section, a single touch point for our members to store their CPD, and also provide SPASA insights of where our members are gaining CPD, so we can better enhance our CPD delivery .
CLEANER DATA AND CLEARER
REPORTING
We introduced targeted dashboards and kicked off a major data clean-up to prepare for our next stage of growth, as we migrate to our new Eco-system We also started journey mapping to better understand and improve the member experience.
All of this reflects a clear focus: we are here to grow the value of membership and support a stronger, more connected community It remains a collective effort across the organisation - and we are excited to roll this out
INDUSTRY PARTNERS
Our Industry Partnerships help SPASA deliver more options for our members by investing in our industry SPASA thanks our Industry partners for their much needed support in 2024
SILVER
MEMBERSHIP SURVEY 2024
The SPASA Member Engagement Survey was conducted in late November 2024 to gain feedback from members on the strategic objectives and activities undertaken by SPASA, to inform strategic p
REASONS FOR BELONGING TO SPASA
SPASA membership is driven by a combination of practical benefits and the broader professional value it offers, reflecting members' desire to stay informed, credible, and connected within the pool and spa industry
Photo Credit - SPASA Industry Forum
IMPORTANCE OF SERVICES, RESOURCES & EVENTS
When questioned on how important are SPASA services, resources or events to Members businesses, our Members said;
NOT IMPORTANT
NEUTRAL
IMPORTANT
INDUSTRY CHALLENGES
Our Members ranked the following challenges in order of the impact to them and their businesses. The top three challenges for SPASA members are economic conditions, workforce management, and financial performance, highlighting the critical issues impacting the industry at both strategic and operational levels
STRATEGIC PRIORITIES FOR THE NEXT FIVE YEARS
Advocacy and representation emerged as the clear strategic priority for SPASA to focus on over the next five years Advocacy and representation are overwhelming areas members want SPASA to focus on, with 44% ranking it as the highest priority and 87% including it in their top three.
Reflecting SPASA’s role as the voice for the pool and spa industry, members want SPASA to focus on advocacy and representation
ADVOCACY
STRATEGIC OBJECTIVES
The primary objective of SPASA’s involvement in regulatory activities is to ensure that industry standards, regulations, and policies align with best practices, support innovation, and promote the overall safety and quality of the pool and spa industry in the follow ways:
SUPPORT MEMBERS
Ensure members have access to and are equipped with the knowledge and tools necessary for compliance with evolving industry requirements.
ST
A
NDARDS DEVELOPMENT
Actively steer and participate in the creation, review, and implementation of standards relevant to our industry
EDUCATION AND TRAINING
Enhance workforce skills by promoting training and development opportunities for Continuing Professional Development (CPD) Prepare the industry for the future, ensuring professionals are equipped and employment ready
SHAPE PUBLIC POLICY
Advocate for policies that support the interests of our members and the broader industry. Raising awareness to promote the importance of ethical practices, safety, and sustainability within the industry. Position the industry as professional, responsible and benefiting the community.
FUNDING AND GRANTS
Explore opportunities to promote and protect members and industry through grants and other funding
GOVERNMENT AWARENESS
Be a strong voice and raise the industry profile and SPASA as the peak industry body
A
MARKETING M
In 2024, SPASA continued to play a pivotal role in protecting, promoting, and growing the swimming pool and spa industry across Australia and New Zealand Through high-impact campaigns designed to drive foot traffic to expos, national media initiatives promoting SPASA members, and consistent year-round brand activity, our efforts have elevated public perception, supported member success, and positioned SPASA as the industry’s most trusted voice.
POOL SPA LIFE AUSTRALIA TV
A standout achievement was the production and broadcast of Season 1 of Pool Spa Life Australia, a SPASA-owned TV show aired nationally on the Nine Network via 9Life. Designed to inspire and educate, the series showcased SPASA members, highlighting backyard transformations, expert advice, innovative products, and the benefits of pool and spa ownership.
Courtyard Small Pool over $80,000, Neptune Swimming Pools
STRATEGIC PRIORITIES:
Promoting a Positive View of Pool and Spa Ownership
We continue to inspire Australians to embrace the pool and spa lifestyle through compelling content and aspirational messaging that celebrates wellness, family connection, award winning builders, and outdoor living through our always-on social media
Ongoing Review and Optimisation of Strategy
With a data-led approach, we continuously refine our marketing execution to ensure maximum reach, relevance, and return on investment across all platforms.
Top-of-Funnel Campaigns that Drive Industry Growth
We lead national awareness efforts that generate demand for pools, spas, and associated products, fuelling growth opportunities for members across all categories
Elevating the Reputation of Pool & Spa Professionals
Our campaigns shine a spotlight on the skilled individuals and businesses who meet evolving consumer needs through innovation, professionalism, and service excellence
Year-Round Consumer Marketing to Drive Member Leads
From social campaigns to national advertising, we maintain a consistent consumer presence to ensure SPASA members remain top-of-mind for potential buyers throughout every season.
Celebrating Excellence through Events and Awards
Our marketing proudly supports the promotion of SPASA Awards of Excellence, expos, and key events creating high-visibility opportunities for member recognition and celebration.
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CLIMATE CARE CERTIFIED
THE BENCHMARK IN ENVIRONMENTAL SUSTAINABILITY FOR SWIMMING POOLS AND SPAS
Climate Care Certified’s mission is to lead the charge in promoting sustainable and eco-friendly practices across the Pool & Spa industry. We aim to empower businesses and consumers alike to adopt environmentally sustainable products and practices that contribute to a healthier planet
Our focus on certification and innovative solutions meets the growing demand for products that help the environment, conserve water, and save time, driving a positive impact for future generations.
As energy demands rise and concerns about water sustainability grow, governments and their agencies are implementing regulations to encourage more sustainable practices. By promoting Climate Care Certified products and systems, our industry can make a positive impact on the environment while also projecting and future proofing its own sustainability This commitment helps ensure that the swimming pool and spa industry adapts to changing regulations and market expectations, securing a resilient future for our industry
EMPOWERING THE POOL & SPA INDUSTRY WITH INSIGHT, INFORMATION, AND INNOVATION
SPLASH! is packed with independent, detailed editorial including the latest industry news, case studies and features on a broad range of issues relevant to the residential and commercial pool and spa market.
SPLASH! reaches all major professionals in the pool industry including pool builders, service technicians, retailers, contractors, designers, engineers, councils and local authorities, architects, specifiers, hotel managers, schools and universities, leisure centres, water parks, manufacturers, distributors, swim schools, hydrotherapy pools and all allied trades SPLASH!
SPLASH! TRADE EXPO
SPLASH! Trade Expo is the leading pool and spa show in the southern hemisphere and the must attend event for anyone involved in delivering products or services relating to pool and spa
2024 saw Australasia's largest dedicated pool and spa trade show move to new heights Providing a unique opportunity to be inspired, informed and gain important insights on how best to navigate professional growth into the future
It is the only place to meet key industry suppliers, experts and decision makers all under one roof.
4 000+ 4 000+
TTENDEES
LEISURE MEDIA
TO INFORM AND EMPOWER LEISURE INDUSTRIES
Leisure Media’s online platform and the Australasian Leisure Management magazine provide crucial access to inform, inspire and elevate the commercial aquatics sector, in unison with the broader leisure market
The acquisition of Leisure Media in late 2023 was to improve SPASA’s policy development and collaboration with a wider network of associations and industry groups, while extending the value proposition to our members across the leisure sector
Bree Bensley, Executive Manager of Marketing
Declan Gillard-Martin, Executive Manager of Commercial
AWARDS OF EXCELLENCE
The SPASA Awards of Excellence are the swimming pool and spa industry’s most prestigious awards, attracting entries from every region in Australia and New Zealand, showcasing achievements in construction, design, manufacturing, supply, products, retail and service.
The remarkable increase in award entries and attendance at this year’s Gala Awards throughout Australia and New Zealand underscores our members dedication to elevating their reputation and striving for excellence in the industry. This unprecedented participation reflects a strong commitment of members showcasing their skills and achievements while competing alongside the best of the best in the field
Such engagement from the industry not only recognises members and collective accomplishments, but also reinforces the value of quality and innovation within our community, inspiring further growth and collaboration Awards nominations continue to provide a competitive advantage in the market with over 1,600 entries received in 2024.
We would like to congratulate and thank all sponsors, entrants and judges involved in the 2024 Awards
All winners can be viewed at www.spasaawards.com.au
MAJOR AWARDS
Business of the Year
Everclear Pools SA
Commercial Project of the Year
Elite Pools and Landscapes
Pool of the Year TLC Pools
Product of the Year
Waterco Limited
Professional of the Year
Ricki-Lee Rogers, Rogers Pools
Spa of the Year
Queensland Family Pools and Spas
Best Pool Store Allans Pool Shop
Best Concrete Pool Builder Pinnacle Pools
Best Fibreglass Pool Builder Barrier Reef Group WA
Best Mobile Service Business Plus Pool Maintenance
Best Prefabricated Composite Pool Builder Eco Plunge Pools
Best Professional Service Business FMG Engineering
Best Spa Retailer Spa World Tasmania
Best Supplier Fluidra Australia
Best Vinyl-Lined Pool Builder
Add A Splash Pools
BUSINESS AWARDS
Display Pool / Centre
The Pool Tile Company
Multi-Location Pool Store
Allans Pool Shop
New Pool Store
Pool Envy
Online Pool Store
Swimming Pool Kits Direct
Single Location Pool Store
Swimart Frenchs Forest
INDIVIDUAL AWARDS
Construction Tradesperson Award
Michael Farnham, Laguna Pools & Spas
In-Field Service Technician Award
Brendan Moelands, Jim's Pool Care Victoria Point
Operational Excellence Award
Nick Hubble, Countrywide Pools
Pool & Spa Barrier Inspector Award
Neil Sharp, Brisbane Pool Safety
Pool Designer Award
Matthew Scrase, Laguna Pools & Spas
Pool Sales Representative Award
Emily Donegan, Everclear Pools SA
Retail Service Technician Award
Maddy Bell, Everclear Pools SA
Rising Star Award
Phil Hickman Sunlover Group
Spa Sales Representative Award Charlie Xuereb, Spa World
Supplier Salesperson Award
Sherwyn King, Sunlover Group
PRODUCT AWARDS
Commercial System
25m Learn To Swim Plant, Commercial Pool Systems
Education & Training Excellence Award
Fluidra Pro Academy, Fluidra Pro Academy
Innovative Product Award
Remco Retrofit Swimjet, Remco
Marketing Campaign Award
Hydrotherapy Pools, Aloha Pools
New Product Award
Autochlor NEO, AIS Water
Portable Spa
The Great Escape, Splash Batavia Coast Pools and Spa
Sustainable Product Award
EnviroPro Dual Filtration System, Waterco Limited
Swim Spa
Vortex™ Hydrozone ticks all the boxes for a spa pool combo, Spa World
Vinyl Lined Modular Pool
Hi-tech decks paired with sizzling sunsets, Affordable Aboveground Pools
PROJECT
Commercial Pool (Aquatics) over
$1,000,000
Swell Palmerston Hydrilla
Commercial Pool (Aquatics) up to
$1,000,000
Allura, Aquatic Designs
Commercial Pool (Aquatics) up to $500,000 Symbio Wildlife Park Penguin Pool, Cronulla Pools
Commercial Renovation
Bayswater Waves Aquatic Centre, Paragon
Construction Solutions
Commercial Spa Walmer Apartments, Aloha Pools
Commercial Water Display Forecourt Entry Waterwall, Waterforms International
Community Project
Cowell Foreshore Redevelopment, Hydrilla
Composite Pool over $60,000
Wonga Park Hamptons Plunge Pool, Plunge Pools Plus
Concrete In-ground Spa
Penthouse paradise, Queensland Family Pools and Spas
Concrete Lap Pool
Aranda, Leader Pools
Concrete Pool & Spa Combination
Treescape Oasis, TLC Pools
Concrete Pool over $240,000
Aranda, Leader Pools
Concrete Pool up to $120,000 Highvale, Aesthetic Pools & Landscapes
Concrete Pool up to $180,000
Portsea, Apex Pools and Spas
Concrete Pool up to $240,000
Resort Style Living, Queensland Family Pools and Spas
Concrete Pool up to $60,000
Overlooking the Ocean, Endeavour Pools and Spas Pty Ltd
Courtyard / Small Pool over $80,000 Project Loftus, Cronulla Pools
Courtyard / Small Pool up to $40,000 Optimism Street, Sydney Poolscapes
Courtyard / Small Pool up to $80,000
Beagle Street, Leader Pools
Enclosed / Indoor Pool
Middle Park, Neptune Swimming Pools
Fibreglass Commercial Pool up to $250,000
Residential apartments pool, Aqua Technics
Commercial
Fibreglass In-ground Spa
Spa Sanctuary, Narellan Pools Hills District
Fibreglass Lap Pool
Lap It Up Webber, Everclear Pools SA
Fibreglass Pool & Spa Combination
Compass Pool spa wader, Achievable pools and spas
Fibreglass Pool over $120,000
"Heritage Oasis: Restoring Elegance, Blending Tradition with Modernity" , MFP easy
Fibreglass Pool up to $120,000
When More is More, Rainwise Pools
Melbourne
Fibreglass Pool up to $40,000
Bali Sanctuary, Sapphire Pools
Fibreglass Pool up to $80,000
Project Folewood - The "Ultimo" , Countrywide Pools
Freeform Pool over $120,000
South Yarra’s pool of fluidity and form, LAGUNA
Freeform Pool up to $120,000
Back to Nature, Queensland Family Pools and Spas
Freeform Pool up to $60,000 Acreage Retreat, Leisure Pools North Brisbane
Hotel/Resort Pool over $1,000,000 Kangaroo Island, Elite Pools and Landscapes
Hotel/Resort Pool up to $1,000,000 Walmer Apartments, Aloha Pools
Hotel/Resort Pool up to $500,000
Serenity amidst Melbourne’s city skyline, LAGUNA
Innovative Project Luxury and Tranquility Amidst the Rural Landscape, Coastal Builders
Pool Landscape Design
Swanbourne, tristanpeirce Landscape Architecture
Prefabricated Composite Pool up to $30,000 Paddington Pool, Queensland Plunge Pools
Prefabricated Composite Pool up to $60,000
Project Collingwood, Prestige Plunge Pools
Renovation over $80,000 Griffith, Leader Pools
Renovation up to $40,000 Pindari Renovation, Imperial Pools
Renovation up to $80,000 It's not just a renovation, Queensland Family Pools and Spas
Residential Lighting Feature Inner City Sanctuary, Rogers Pools
Residential Water Feature Foster, Apex Pools and Spas
Safety Barrier
Mount Eliza, Out From The Blue
Sustainable Project Project Bonnie Rock Countrywide Pools
Vinyl Lined In-ground Pool over $120,000 Olive farms, unique freeform pools
Vinyl Lined In-ground Pool up to $120,000 Timeless Trapezoid, Add A Splash Pools
Vinyl Lined In-ground Pool up to $60,000
Therapeutic tranquility, Add A Splash Pools
Vinyl-Lined Lap Pool Kilsyth, Albatross Pools
OUR OBJECTIVES
Consistent improvement ensuring an effective, supportive, and forward-thinking association for our members
Maintain a well-governed association that implements best practices to enhance member benefits
Be financially sustainable, ethical, socially and environmentally responsible in all actions and decisions
Provide an efficient and effective group of professional, dedicated people representing members with integrity and expertise.
Establish pathways and succession plans to cultivate the development of our board, staff, and future leaders
Formulate and execute a strategic plan for expansion and acquisition with vision, precision, and sustainable growth
S
SUSTAINABILITY
With solid cash flow and a healthy balance sheet, SPASA continues to support its Asset creation to protect and grow the business for the best return on member funds Media brands like SPLASH!, Pool Spa Life and now Leisure Media support member brands like Master Pool Builders and Climate Care Certified.
Investments also include brick and mortar buildings in Sydney, Adelaide and Perth, with additional investments in staff based within most regions across Australia and New Zealand
SUCCESSION
SPASA completed a restructuring of the organisation across 2024 and 2025, moving from a startup-style culture to a more structured management team This was completed as part of the transition from the mergers and acquisitions business model that finalised the One SPASA Project.
The next phase of SPASA’s consistent improvement plan will see services improve due to efficiencies and a focus on existing programs to help members
SPASA thanks all of the past and existing employees who have helped SPASA successfully reach its maturity
STRATEGY
Our strategy is built from the ground up, we ensure our members always have direct input into their association Staff at every level work with individual members and committees, providing feedback to the leadership team and up to the board
The Board, along with the SPASA leadership team, have overseen consistent growth since going national, with SPASA recognised by industry peers as a model association
The Australian Financial Review, for the second year in a row, recognised the association as one of Australia’s fastest-growing companies for 2023 and 2024.
Paul Kimber, Chief Financial Officer
Swimming Pool & Spa Association of Australia
Financial Statements - 31 December 2024
Swimming Pool & Spa Association of Australia Ltd
Directors' report
For the year ended 31 December 2024
The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Swimming Pool & Spa Association of Australia Ltd (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the year ended 31 December 2024
Directors
The following persons were directors of Swimming Pool & Spa Association of Australia Ltd during the whole of the financial year and up to the date of this report, unless otherwise stated:
Anthony Grice (Chairman)
Lynley Papineau
Andrew Pullen
Steven Humphris
Tom Boadle
Anthony Cross
Brandon Hill (appointed May 2024)
Peter Zukowski (appointed May 2024)
Valentina Trip (appointed May 2024)
Stefan Ossenberg (resigned May 2024)
Jacqueline Patterson (resigned May 2024)
Amanda Stephenson (resigned May 2024)
Principal activities
The principal activities of the consolidated entity during the financial year was the representation of the Swimming Pool & Spa industry throughout Australia and New Zealand. No significant change in the nature of these activities occurred during the year
Meetings of directors There were 8 meetings of directors held during the year ended 31 December 2024
Contributions on winding up
In the event of the company being wound up, ordinary members are required to contribute a maximum of $1 each Honorary members are not required to contribute
The total amount that members of the company are liable to contribute if the company is wound up is $1,719 based on 1,719 current ordinary members
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 immediately after this directors' report This report is made in accordance with a resolution of directors, pursuant to section 298(2)(a) of the Corporations Act 2001
On behalf of the directors
Director Director
9 April 2025
Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001
To the directors of Swimming Pool & Spa Association of Australia Ltd
As lead auditor for the audit of the Swimming Pool & Spa Association of Australia Ltd for the year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been:
no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and
no contraventions of any applicable code of professional conduct in relation to the audit
This declaration is in respect of Swimming Pool & Spa Association of Australia Ltd and the entities it controlled during the year.
William Buck (SA)
ABN 38 280 203 274
G W Martinella Partner
Adelaide, 9th April 2025
Swimming Pool & Spa Association of Australia Ltd
Statement of profit or loss and other comprehensive income
For the year ended 31 December 2024
Revenue
Revenue
Other income
Finance income
Expenses
Corporate and administration expense
Event expenses
Employee benefits expense
Doubtful debts
Depreciation and amortisation expense
Trainer and assessment cost
Other expenses
Finance costs
Marketing
Occupancy
Surplus/(deficit) for the year
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Gain on the revaluation of land and buildings
Foreign currency translation
Other comprehensive income for the year
Total comprehensive income for the year
Consolidated 2024 2023 $ $
4 5 (663,454) (5,039,001) (3,179,085) (3,796) (118,983) (192,383) (1,923,513) (5) (354,430) (76,865) 633,454 11,398,564 737,040 49,36512,360 12,360 645,814 (735,167) (3,351,882) (2,613,773) (32,249) (79,786) (200,127) (1,655,705) (77) (81,265) (77,043) (184,113) 527,551 (65,251) 462,300 278,187 8,132,745 450,423 59,793
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes
Swimming Pool & Spa Association of Australia Ltd
Statement of changes in equity
For the year ended 31 December 2024
Consolidated
Balance at 1 January 2023
Deficit for the year
Other comprehensive income for the year
Total comprehensive income for the year
Transactions with members in their capacity as members:
Contributions of equity, net of transaction costs
Balance at 31 December 2023
Consolidated
Balance at 1 January 2024
Surplus for the year
Other comprehensive income for the year
Total comprehensive income for the year
Balance at 31 December 2024
782,460 2,615,585 8,212,491 8,212,491 633,454633,454 8,845,945 5,781,019 (184,113)(184,113) 2,749,646 8,982,591 8,982,591 633,454 12,360 645,814 9,628,405 5,954,758 (184,113) 462,300 278,187
-
Swimming Pool & Spa Association of Australia Ltd
Statement of cash flows
For the year ended 31 December 2024 Note Consolidated 2024 2023 $ $
Cash flows from operating activities
Receipts from customers
Payments to suppliers and employees
Interest received
Interest and other finance costs paid
Net cash from/(used in) operating activities
Cash flows from investing activities
Net assets acquired as part of acquisition
Payments for property, plant and equipment
Payments for intangibles
Payments for term deposits
Net cash used in investing activities
Net cash from financing activities Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the financial year
Effects of exchange rate changes on cash and cash equivalents
Cash acquired as part of acquisition
Cash and cash equivalents at the end of the financial year 6(105,952) (39,480) (1,650,000) (1,795,432)(2,473,896) 7,278,229 12,3604,816,693 10,848,317 (8,807,857) 59,793 (77) 11,006,193 49,365 (5) (678,464) (28,575) (34,596) (243,444)(306,615)1,793,561 3,873,197 (65,251) 1,676,722 7,278,229 (11,734,017) 2,100,176
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 1 General information
The financial statements cover Swimming Pool & Spa Association of Australia Ltd as a consolidated entity consisting of Swimming Pool & Spa Association of Australia Ltd and the entities it controlled at the end of, or during, the year The financial statements are presented in Australian dollars, which is Swimming Pool & Spa Association of Australia Ltd's functional and presentation currency
Swimming Pool & Spa Association of Australia Ltd is a not-for-profit unlisted public company limited by guarantee, incorporated and domiciled in Australia Its registered office and principal place of business is:
8/13 King William Road UNLEY SA 5061
The financial statements were authorised for issue, in accordance with a resolution of directors, on 9 April 2025
Note 2. Material accounting policy information
The accounting policies that are material to the consolidated entity are set out below The accounting policies adopted are consistent with those of the previous financial year, unless otherwise stated
New or amended Accounting Standards and Interpretations adopted The consolidated entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period.
Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.
Basis of preparation These general purpose financial statements have been prepared in accordance with the Australian Accounting Standards - Simplified Disclosures issued by the Australian Accounting Standards Board ('AASB'), the Australian Charities and Not-for-profits Commission Act 2012 and the Corporations Act 2001, as appropriate for not-for profit oriented entities
Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates It also requires management to exercise its judgement in the process of applying the consolidated entity's accounting policies The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3
Parent entity information In accordance with the Corporations Act 2001, these financial statements present the results of the consolidated entity only Supplementary information about the parent entity is disclosed in note 22
Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Swimming Pool & Spa Association of Australia Ltd ('company' or 'parent entity') as at 31 December 2024 and the results of all subsidiaries for the year then ended Swimming Pool & Spa Association of Australia Ltd and its subsidiaries together are referred to in these financial statements as the 'consolidated entity'
Subsidiaries are all those entities over which the consolidated entity has control The consolidated entity controls an entity when the consolidated entity 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 consolidated entity. They are de-consolidated from the date that control ceases.
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 2 Material accounting policy information (continued)
Intercompany transactions, balances and unrealised gains on transactions between entities in the consolidated entity are eliminated Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the consolidated entity
The acquisition of subsidiaries is accounted for using the acquisition method of accounting A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent
Where the consolidated entity loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity The consolidated entity recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss
Foreign currency translation The financial statements are presented in Australian dollars, which is Swimming Pool & Spa Association of Australia Ltd's functional and presentation currency
Foreign currency transactions Foreign currency transactions are translated into Australian dollars using the exchange rates prevailing at the dates of the transactions Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss
Foreign operations The assets and liabilities of foreign operations are translated into Australian dollars using the exchange rates at the reporting date The revenues and expenses of foreign operations are translated into Australian dollars using the average exchange rates, which approximate the rates at the dates of the transactions, for the period All resulting foreign exchange differences are recognised in other comprehensive income through the foreign currency reserve in equity
The foreign currency reserve is recognised in profit or loss when the foreign operation or net investment is disposed of
Revenue recognition
The consolidated entity recognises revenue as follows:
Revenue from contracts with customers Revenue is recognised at an amount that reflects the consideration to which the consolidated entity is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the consolidated entity: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised
Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events Such estimates are determined using either the 'expected value' or 'most likely amount' method The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved Amounts received that are subject to the constraining principle are recognised as a refund liability.
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 2 Material accounting policy information (continued)
Rendering of services Revenue from a contract to provide services is recognised over time as the services are rendered
Interest Interest revenue is recognised as interest accrues using the effective interest method This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset.
Other revenue
Other revenue is recognised when it is received or when the right to receive payment is established
Income tax As the consolidated entity is a tax exempt institution in terms of subsection 50-10 of the Income Tax Assessment Act 1997, as amended, it is exempt from paying income tax.
Cash and cash equivalents 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
Trade and other receivables Trade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses Trade receivables are generally due for settlement within 30 days
The consolidated entity has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance To measure the expected credit losses, trade receivables have been grouped based on days overdue
Investments and other financial assets Investments and other financial assets are initially measured at fair value Transaction costs are included as part of the initial measurement, except for financial assets at fair value through profit or loss. Such assets are subsequently measured at either amortised cost or fair value depending on their classification Classification is determined based on both the business model within which such assets are held and the contractual cash flow characteristics of the financial asset unless an accounting mismatch is being avoided
Financial assets are derecognised when the rights to receive cash flows have expired or have been transferred and the consolidated entity has transferred substantially all the risks and rewards of ownership When there is no reasonable expectation of recovering part or all of a financial asset, its carrying value is written off
Financial assets at amortised cost A financial asset is measured at amortised cost only if both of the following conditions are met: (i) it is held within a business model whose objective is to hold assets in order to collect contractual cash flows; and (ii) the contractual terms of the financial asset represent contractual cash flows that are solely payments of principal and interest
Investments Investments includes non-derivative financial assets with fixed or determinable payments and fixed maturities where the consolidated entity has the positive intention and ability to hold the financial asset to maturity This category excludes financial assets that are held for an undefined period Investments are carried at amortised cost using the effective interest rate method adjusted for any principal repayments Gains and losses are recognised in profit or loss when the asset is derecognised or impaired
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 2 Material accounting policy information (continued)
Impairment of non-financial assets Goodwill and other 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 non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount
Recoverable amount is the higher of an asset's fair value less costs of disposal and value-in-use. The valuein-use is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash-generating unit to which the asset belongs Assets that do not have independent cash flows are grouped together to form a cash-generating unit.
Trade and other payables These amounts represent liabilities for goods and services provided to the consolidated entity prior to the end of the financial year and which are unpaid Due to their short-term nature they are measured at amortised cost and are not discounted The amounts are unsecured and are usually paid within 30 days of recognition
Employee benefits Short-term employee benefits
Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled
Other long-term employee benefits The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows
Fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market
Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
Business combinations The acquisition method of accounting is used to account for business combinations regardless of whether equity instruments or other assets are acquired
The consideration transferred is the sum of the acquisition-date fair values of the assets transferred, equity instruments issued or liabilities incurred by the acquirer to former owners of the acquiree and the amount of any non-controlling interest in the acquiree For each business combination, the non-controlling interest in the acquiree is measured at either fair value or at the proportionate share of the acquiree's identifiable net assets All acquisition costs are expensed as incurred to profit or loss
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 3 Critical accounting judgements, estimates and assumptions (continued)
Allowance for expected credit losses
The allowance for expected credit losses assessment requires a degree of estimation and judgement It is based on the lifetime expected credit loss, grouped based on days overdue, and makes assumptions to allocate an overall expected credit loss rate for each group These assumptions include recent sales experience and historical collection rates
Goodwill and other indefinite life intangible assets The consolidated entity tests annually, or more frequently if events or changes in circumstances indicate impairment, whether goodwill and other indefinite life intangible assets have suffered any impairment, in accordance with the accounting policy stated in note 2. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations These calculations require the use of assumptions, including estimated discount rates based on the current cost of capital and growth rates of the estimated future cash flows.
Note 4 Revenue
Note 5. Other income
income
Note 6. Cash and cash equivalents
Current assets
at bank
on deposit
guarantee income Other income 3,931,714 1,662,265 5,804,585 11,398,564 4,310,089 506,604 4,816,693 157,500 55,510 524,030 737,040 3,429,466 1,367,874 3,335,405 8,132,745 7,223,046 55,183 7,278,229
430,209 450,423
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements For the year ended 31 December 2024
Note 7 Trade and other receivables
Current assets Trade receivables Less: Allowance for expected credit losses
Note 8. Inventories
(29,656)
Current assets Stock on hand - at cost
Note 9. Investments
Current assets Term deposits
Note 10. Other assets
Current assets Prepayments -
1,650,000 1,113,714 9,131 308,950 (70,079) 238,871 867,017 -
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 11 Property, plant and equipment
Non-current assets
Land and buildings - at directors valuation
Less: Accumulated depreciation
Plant and equipment - at cost
Less: Accumulated depreciation
Office equipment - at cost
Valuations of land and buildings
Note 12. Intangibles
2024 2023 $ $ Consolidated 2024 2023 $ $
Non-current assets
Goodwill - at cost
Website development
Less: Accumulated amortisation
The basis of the valuation of land and buildings is fair value The land and buildings were revalued on 28 March 2023 and 5 April 2023 and based on independent assessments by a member of the Australian Property Institute having recent experience in the location and category of land and buildings being valued The directors do not believe that there has been a material movement in fair value since the revaluation date Valuations are based on current prices for similar properties in the same location and condition.
The goodwill arising from the purchase of the Australian Leisure Media publishing company relates to the trading names, intellectual property and other intangible assets acquired The consolidated entity also acquired the Perth Expo No assets or liabilities were acquired, only the rights to host the Expo
Note 13. Trade and other payables
Current liabilities Trade payables
GST payable
Sundry payables and accruals
Less: Accumulated depreciation 126,606 143,246 111,620 381,472 2,708,018 (120,857) 2,587,161 30,384 (19,077) 11,307 142,910 (68,852) 74,058 2,672,526 307,918 106,230 211,407 625,555 2,660,250 (39,094) 2,621,156 30,384 (16,945) 13,439 69,976 (31,561) 38,415 2,673,010 2,590,721 163,054 (12,547) 150,507 2,741,228 2,580,307 130,426130,426 2,710,733
2024 2023 $ $
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 18 Related party transactions
Parent entity Swimming Pool & Spa Association of Australia Ltd is the parent entity
Subsidiaries
Interests in subsidiaries are set out in note 21.
Key management personnel
Disclosures relating to key management personnel are set out in note 17
Transactions with related parties
There were no transactions with related parties during the current and previous financial year
Receivable from and payable to related parties There were no trade receivables from or trade payables to related parties at the current and previous reporting date
Loans to/from related parties
Note 19. Contingent liabilities
In the opinion of the Directors, the consolidated entity did not have any contingencies as at 31 December 2024 (31 December 2023: None).
Note 20 Commitments
In the opinion of the Directors, the consolidated entity did not have any capital commitments as at 31 December 2024 (31 December 2023: None)
Note 21. Subsidiaries
Interests in subsidiaries
The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 2:
There were no loans to or from related parties at the current and previous reporting date Principal place of business /
Name
SPASA Benefits Trust
Institute of Research and Learning Limited
Pool & Spa Association Limited
SPASA WA Completion Guarantee Trust
Swimming Pool and Spa Association of Victoria Ltd (formerly Master Builders Pool Association Australia)
Leisure Media Limited (formerly Australian Leisure Media Pty Ltd)
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 22 Parent entity information
Set out below is the supplementary information about the parent entity Statement of profit or loss and other comprehensive income
Surplus/(deficit)
Total comprehensive income Statement of financial position
Total current assets
Total assets
Total current liabilities
Total liabilities Equity Revaluation surplus reserve Foreign currency reserve Other reserves Retained surpluses
Total equity 933,223 933,223 3,231,431 8,708,073 3,160,575 4,544,529 (168,978) 168,978 142,457 4,021,087 4,163,544 (359,558) (359,558) 4,640,963 9,310,455 4,337,516 6,080,211 (168,978) 168,978 142,457 3,087,787 3,230,244
Swimming Pool & Spa Association of Australia Ltd
Notes to the financial statements
For the year ended 31 December 2024
Note 23. Events after the reporting period
No matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years
Swimming Pool & Spa Association of Australia Ltd
Directors' declaration
For the year ended 31 December 2024
In the directors' opinion:
● the attached financial statements and notes comply with the Corporations Act 2001, the Australian Accounting Standards - Simplified Disclosures, the Australian Charities and Not-for-profits Commission Act 2012, the Corporations Regulations 2001 and other mandatory professional reporting requirements;
the attached financial statements and notes give a true and fair view of the consolidated entity's financial position as at 31 December 2024 and of its performance for the financial year ended on that date; and
there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable
Signed in accordance with a resolution of directors
On behalf of the directors
Director Director
9 April 2025
Other information
The directors are responsible for the other information The other information comprises the information included in the Group’s annual report for the year ended 31 December 2024 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 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, 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 this 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 https://www.auasb.gov.au/media/apzlwn0y/ar3 2024.pdf
This description forms part of our auditor’s report
William Buck (SA)
ABN 38 280 203 274
G.W. Martinella Partner
Adelaide, 9th April 2025
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