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Directors' report
For the year ended 31 December 2020
The directors presenttheirreporttogether with the financial reportof Wentworthville Leagues Club Limited (the Company or the Club) for the financial year ended 31 December 2020 and the auditor’s report thereon.
Directors
The Directors of the Company at any time during or since the end of the financial year are:
Director
A FOWLER Director
Name Experience, qualifications, special responsibilities and interest in contracts
I McCANN President Director 14 years includingPresident12 years.Chairman of Board’s Remuneration Committee and Property Corporate and Investment Committee, Sponsorship Committee and Disciplinary Committee. Director of Leagues Club Association. DelegateofmemberbodiesofClubs NSW and memberof ClubDirectorsInstitute. MemberofClubs Corporate Governance Working Group, Boards Representative at Sports Council.Memberof all Sporting Associationsand patron of DartsClub and Cricket Club. Life member of WDRLFC. Interest in contracts - Nil
T SIMPSON OAM Director 21 years and Vice President 2 years. Vice President Honorary Life Member.Memberof Board'sPropertyCorporate and Investment Committee, Sponsorship Committee and Disciplinary Committee. Member of member bodies of Leagues Club Association, ClubsNSW and Club Directors Institute. Memberof all Sporting Associations including,co-patronofSwimming, and co-patron and life memberof Jujitsuand WUJRLFC. Recipientof Australian sports and Order of Australia medals and NSW senior achievement award. Leagues Club Australia’s Board and Managers Service Awards 15 years. CumberlandCouncil Citizen of the Year 2017Recipientof the Paul Harris fellow for Holroyd Rotary. Holder of the Commonwealth Sports Medal Interest in contracts - Nil
L CAPOVILLA Director 32 years. Honorary Life Member, Memberof theBoard’s Audit Riskand Compliance, Sponsorship Committee and Disciplinary Committee. Alternate at Sports Council,Delegate to LeaguesClubs Associationand MemberofClubsNSW and Clubs DirectorsInstitute. 30+ years’service Leagues Club Australia. Member of all Sporting Associations and Patron of Wenty Leagues Golf Club and Life Member of WDRLFC and WUJRLFC. Delegate of Football Club Reunion Committee.
Interest in contracts - Nil
A CROMACK Director Director 18 years including past Vice President for 6 years. Member of Boards Remuneration Committee, Sponsorship Committee and Disciplinary Committee. andChairman ofAudit Riskand ComplianceCommittee. MemberofmemberbodiesofClubsNSW and ClubDirectorsInstitute. Delegateof Leagues Club Association. Alternate at Sports Council.Memberof all Sporting Associations, including Life Member of WDRLFC.
Interest in Contract: Platinum Electricians
Director 10 years, including past Vice President for 2 years. Member of Board’s Audit Risk and Compliance Committee, Remuneration Committee and SponsorshipCommittee.MemberofMemberBodiesofLeagues Club Association and Club Directors Institute. Member of all Sporting Associations. Interest in Contracts: Laing and Simmons Real Estate
For the year ended 31 December 2020
Name Experience, qualifications, special responsibilities and interest in contracts
J ISAACS Director
D MUMFORD Director
R WILLIS Director Director 12 years. Member of Board's Remuneration Committee and Audit, Risk and Compliance Committee, Sponsorship Committee and Disciplinary Committee. Member of member bodies of Leagues Club Association, ClubsNSW and Club Directors Institute. Member of all Sporting Associations including patron of Darts Club and Life member and President of Cricket Club and Member of the Monty Bennett Parks Trust. Board member of Parramatta District Cricket Association. Interest in contracts - Wentworthville Leagues Cricket Club.
Director 1 year. Member of Board's Audit Risk and Compliance Committee, Sponsorship Committee and Disciplinary Committee. Member of member bodies of Leagues Club Association, ClubsNSW and Club Directors Institute. Member of all Sporting Associations. Interest in contracts - Nil
Director 6 years. Vice President of Cricket Club. Member of the Board's Property Corporate and Investment Committee, Sponsorship Committee and Disciplinary Committee. Member of member bodies of Leagues Club Association, ClubsNSW and Club Directors Institute. Life Member of the Cricket Club and Member of all Sporting Associations. Member of the Monty Bennett Parks Trust. Interest in contracts - Wentworthville Leagues Cricket Club
For the year ended 31 December 2020
SHORT AND LONG TERM OBJECTIVES
Topromote and encourage the sportofRugbyLeague in theWentworthvilledistrict. Tobe the community's venue of choice, that special destination every day of the week for that memorable experience.
STRATEGY FOR ACHIEVING OBJECTIVES
The objectives will be achieved through providing a value offering in product and service while increasing profitability in a quality hospitality and entertainment venue.
PRINCIPAL ACTIVITIES
Theprincipal activities of the Companyduring the course of the financialyear were that of a licensedclub.The purposeof the club is to promote and encourage the sportofRugbyLeague and to provide facilities andservices to its members.
ACTIVITIES IN ACHIEVING THE OBJECTIVES
The principal activities provided a financial return sufficient to maintain the assets of the club, promote and encourage the sport of Rugby League in the Wentworthville district and provide, promote and develop an environment within the club directed towards good fellowship and social harmony amongst its members.
MEASUREMENT OF PERFORMANCE
The entity is measured against a financial budget, astrategic planand a set of key performanceindicators thatare assigned toits seniormanagementteam. In addition, research is carried out to assess the team'sperformance with regard to the demographic of the area and our competition.
MEMBERSHIP
Thecompany islimited byguarantee and without sharecapital. If the company is woundup, Rule 23of the Constitution statesthateach member atthat time,or within one year afterwards is required to contribute a maximumof$1 each towards meeting any outstandingobligationsof the company. As at 31December2020 there are 65,651 (2019: 69,383) current members across the following membership classes:-
Type Foundation life Honorary life Companion Life Twenty five year Fifty year Standard Concessional Staff Number
29 9 4 1,959 471 49,615 13,522 42
65,651
RESULTS OF OPERATIONS
The profit after tax for the financial year is $5,772,262 (2019: Loss $1,692,351).
For the year ended 31 December 2020
RESULTS OF OPERATIONS (continued) Comparative earning position 2020 2019
Profit / (Loss) after tax 5,772,262 (1,692,351)
Add:
Finance costs 3,605,251 3,847,983 Depreciation 9,626,420 7,883,583 Tax expense 259,947 - Loss from disposal of plant, property 796 1,302,997 and equipment (546,304) 284,401 18,718,372 11,626,613
(Reversal)/Impairment of property, plant and equipment Adjusted earnings
DIRECTORS' MEETINGS
Thefollowing tablesets out the numberof Director's meetingsheld and attendedduring the year. During the year, 15boardmeetings were held.Under theBoard'sCharterforits Committee theDirectors along with management combine to undertake the responsibilitiesof thePropertyCorporate and InvestmentCommittee,Audit Riskand Compliance Committee, Sponsorship Committee, Disciplinary Committee and Remuneration Committee meetings.
The directors havealso attendedothermeetings and functions infulfilling theirduties, inclusive butnot limited to industryprofessionalbodies,sporting associations, councils and political representativesfunctions and sporting club committees throughout the year.
Director
Ian McCann Trevor Simpson OAM Laurie Capovilla Adam Cromack Alan Fowler Justin Isaacs David Mumford Robert Willis
Board meetings and Charter Committees
Available Attendance 32 31 32 36 32 34
36 36
36 35
36 36
Other meetings
11 7 6 6 6 6
7 7
1 32 32 8
247 243 51
DIRECTORS' AND EXECUTIVES' REMUNERATION
Remuneration of directors is in accordance with Rule 86 of the Constitution.
Details of remuneration provided to directors is as follows:Directors I McCann (President) T Simpson OAM (Vice President) L Capovilla A Cromack A Fowler J Isaacs D Mumford R Willis Honorarium 13,265 7,498 7,498 7,498 7,498 7,498 7,498 7,498
For the year ended 31 December 2020
DIRECTORS' AND EXECUTIVES' REMUNERATION (CONTINUED) Officers of the company
The executive's remuneration package may contain the key elements of salary, superannuation and long service leave with benefits including motor vehicles and performance based incentive scheme.
In accordance with Rule 159 (b) of the Constitution, the aggregate remuneration representing the annual salaries, bonuses and emoluments provided to the 6 highest paid officers of the company is $1,322,957 (2019: $1,240,863).
AUDITOR'S INDEPENDENCE DECLARATION
The auditor's independence declaration is included on page 10.
Signed in accordance with a resolution of the directors made pursuant to s298(2) of the Corporations Act 2001.
I McCann
Director Dated at Sydney, 22nd day of April 2021
