Page 1

WTLC Annual Report | 1


Wests’ Board of Directors 2011 - 2012

John McClelland

Anthony Hollis

Maxwell Sharpe

Alice Edmunds

Dennis Gross

Terry Psarakis

President

Director

Vice President

Director

Robert Both

Treasurer

Director

Director

Rod Laing

CHIEF EXECUTIVE OFFICER

Executive Management

HonORary Life Members

Eileen Smyth

Deputy CEO

Lester Roser

Wests’ Operations Facility Manager

Robyn Taylor

Wests’ Diggers Operations Facility Manager

+Edward Harrison

+M. McKinnon

+Augustus Yates

+L. Bettison

+John Hinkelbein

+Stan Cole

Geoff Shanley

Technical Services Manager

+ Albert Lee

+Len Walters

Keith Clark

Administrative Services Manager

+John Meincke

+Reg Cognet

Therese Brodbeck Employee Relations Manager

+Ken Chillingworth

Nita Blake

Sandy Barnett

Catering Manager

+Jack Bradley

+Dennis Condon

+Norm Young

+Joan Chillingworth

Fiona Ainsworth

Business Development Manager

+Jack Whitmore

John McClelland

Michelle Bullock

Executive Assistant

+Adrian Solomons

+Jack McGilvray

Chris Hardy

Membership Manager

+Pat McKinnon

Max Sharpe

Leesa Peck

Functions & Events Manager

+S.H (Lee) Allen

Rod Laing

Chris Cruckshank Customer Services Manager

+John Kelly

Dennis Gross

Graham Menzies

Senior Management & Support Personnel

+ Member Deceased 2 | WTLC Annual Report

Customer Service Manager


PRESIDENT’s Report Dear Members It is my pleasure to present to the members of the Wests Entertainment Group, the club’s annual report for the financial year ending 30 June 2012.This report is to be considered at the Annual General Meeting to be held on Tuesday 27 November at Wests in Phillip Street. The year has again been a busy one for the board and management and certainly proved to be a year of challenges and opportunities. Club trading has again been very good and has produced a terrific result. This year’s results again include a combined result from Wests and Diggers. Our combined clubs recorded an operating profit before provisions and finance costs of $3.192 million, which is an outstanding result. The combined club poker machine profits of $11.516 million were also pleasing. The Wests Entertainment Group had a net turnover of $20.137 million in the last financial year, a wages bill of $5.093 million, purchases of food and beverages of $2.576 million, repairs and maintenance of $390,899, poker machine and payroll tax of $2.652 million and payments made to members and guests as gaming prizes, amenities, entertainment and promotions of $31.743 million. Over the past few years, the club industry has seen its fair share of changes including alcohol and licensing restrictions, nonsmoking legislation, gaming machine restrictions, a global financial crisis and consumer confidence at a low level. With all that said, members would agree that the Wests group’s result is one to be proud of.

Most members by now would be well aware of the club’s car park upgrade. Works are well under way for a multi-level car park costing $2.5 million. This new car park will accommodate some 222 car spaces. It will not only improve member security, the car park will also pave the way for future developments of Wests’ master plan.These future developments will be discussed at our AGM but I can share with you that they will include extensions to the main clubhouse and a 40-room motel. During the past 12 months, the board’s commitment in providing better club facilities continued. This included renovations to Blazes and the dressing rooms, new carpet at Wests, new curtains and new cocktail lounge chairs at Wests, upgrading of air-conditioning in Banjos and Legends bar at Wests and painting of the front façade at Wests. At Diggers, new tables and chairs were installed in Caesars Café. The Wests Entertainment Group plays a major role in financially supporting your community. This year was no exception as we supported a total of 154 individuals, community groups and sporting bodies. We are firm believers of being involved in the community in which we do business. To my fellow board members, thank you for the co-operation that you have extended to me throughout the year. The board and I welcome your comments, suggestions or concerns. You may contact us by either mail or email. Our email address is info@tamworthwests.com.au Sadly, a year does not pass without the loss of someone near and dear to us. The club extends its deepest sympathy to our members who have lost loved ones this year. Finally, I would like to remind all members who want to stay up to date with the latest information regarding club promotions, entertainment or what’s happening in general including our building works, to log onto our website www.wtlc.com. au or pick up a copy of our members’ magazine, Wests Rewards. We rely on these two vehicles to communicate with you, the member.

To Rod Laing and his management team and all the staff, whether it be food or beverage, cleaning or administration, on behalf of the board of directors, we say thank you for a magnificent effort.

In closing, I thank you for your support and patronage. It’s your loyalty that has seen our clubs continue to thrive and prosper. Remember it’s your club – we are owned by the community for the community.

I would also like to extend my congratulations to our CEO, Rod Laing on his achievements on receiving the Club Managers’ Association Australia Peter Cameron Award in recognition of his contribution to the CMAA and the club industry.

I look forward to seeing you at the Annual General Meeting on November 27.

John McClelland President WTLC Annual Report | 3


Chief Executive Officer’s Report

Dear members On behalf of our board of directors, management and staff, I thank you for your continued patronage and loyalty to our clubs. As another financial year comes to an end, it is my pleasure to submit the 51st annual report and balance sheets for the year ended 2012. Financially, the group has recorded an astounding result. An operating profit of $3.192 million before provisions and finance costs and a net profit of $1.364 million was realised this year. This year, Wests’ trading has been outstanding, resulting in an operating profit of $2.655 million before provisions and finance costs, while Diggers has returned a profit of $536,820. In early 2008, the Wests Entertainment Group implemented a growth strategy that focused on enhancing member loyalty and increasing our membership base. Since then, this strategy has produced outstanding results year in, year out, a remarkable fact given all the challenges we’ve had to overcome. Good and sustainable financial results come only from excellent execution and customer satisfaction. In the past I have mentioned how critical it is to have a switched-on management team. This team is the best that you will find anywhere in our industry. My special thanks to Eileen Smyth and Michelle Bullock for their ongoing, behindthe-scenes support, and to the whole executive management team who have done themselves proud. I would also like to thank all team members who have worked so hard to make us what we are today. From front of house to back of house and cleaning staff, I thank you for your passion, dedication and hard work. This year saw the last ClubsNSW Awards for Excellence under the current format. Over the years, the Wests Entertainment Group has been honoured, winning many awards including Club of the Year in 2003. Although this year we did not receive a gong, we were acknowledged as highly commended in gaming. In the past, we have won this award three times. It acknowledges a club which has displayed the best presentation, service and responsible gaming practices of a club gaming venue. We’ve long been recognised as one of the

  4 | WTLC Annual Report

industry’s responsible gaming leaders. A lot of hard work goes on behind the scenes with discussions, plans and ideas that may both assist and protect a problem gambler, including assistance connecting with a counsellor for help. Our venues now offer voluntary precommitment in our gaming rooms. Our technical services manager, Geoff Shanley, is responsible for the implementation of measures to assist people with a gambling problem. Geoff deserves to be congratulated at the highest level on his outstanding achievements in this area. I would also like to thank the Wests board, headed by president John McClelland, which has worked tirelessly throughout the past year. We are now set for the next, and I believe most exciting, stage in the evolution of our organisation. The start of 2013 will see the completion of our new multi-storey car park and the next stages of redevelopment will realise extensions to Wests as well as a 40-room motel. Our future plans will be discussed in more detail at our AGM. In closing, I’d like to thank you, our member, for your support of the Wests Entertainment Group. We will continue to implement the strategy that has led to our success – hiring and encouraging the best people to deliver great service to the thousands of members who visit our two clubs. We will continue to be innovative in technology and marketing to provide our members with more reasons to increase their loyalty. We promise to maximise the strength of our brands, including our restaurants and cafes, to reinforce our position as the leading hospitality provider in the North West. I look forward to seeing you at the Annual General Meeting on Tuesday, November 27.

Rod Laing Chief Executive Officer


TREASURER’S Report Dear members It is my pleasure on behalf of the board of directors to submit the annual financial reports for the year ending 30 June, 2012. The twelve month period has resulted in the group recording a net profit after provisions and finance costs of $1,364,258. Shown right are graphs of our income and expenses and profit before provisions and finance costs. The group had $20,137,493 in income compared to $19,557,522 last year. This was an increase of $579,971 or 2.96%. Expenses in 2011/12 were $16,944,742, an increase of 1.57% on the previous year. The profit before provisions and finance costs for Wests and Wests’ Diggers combined was $3,192,751 compared to $2,874,443 last year. Wests made a profit of $2,655,930 before finance costs and provisions and Wests’ Diggers made a profit of $536,821. The net profit after all costs were deducted was $1,224,521 for Wests with Diggers making $139,737. It is with much pleasure that I announce another good year for the group with a lot of projects being achieved along the way such as new carpet at Wests, new air-conditioning, a Blazes Auditorium refurbishment, Wests’ refrigeration project and new furniture at both Wests and Diggers. The coming year will see the completion of the two-storey car park at Wests. I will again be delivering a detailed financial report at our Annual General Meeting on Tuesday November 27, 2012. Questions regarding the report will be accepted from the floor on the night however, it would be appreciated if any questions could be put in writing and submitted to the club secretary no later than Monday, November 19, 2012.

Income Sales

Maxwell Sharpe Treasurer

West Tamworth League Club

Wests Diggers

Combined

Last Year

4,022,646

2,426,616

6,449,262

6,175,011

Rendering Services

9,242,822

2,273,740

11,516,562

11,396,692

Other Income

1,702,746

468,923

2,171,669

1,985,819

14,968,214

5,169,279

20,137,493

19,557,522

Cost of Goods Sold

1,693,423

882,454

2,575,877

2,512,671

Operating Expenses

8,126,075

2,867,083

10,993,158

10,951,925

Other Expenses

1,607,363

584,370

2,191,733

2,123,806

885,423

298,551

1,183,974

1,094,677

12,312,284

4,632,458

16,944,742

16,683,079

2,655,930

536,821

3,192,751

2,874,443

Expenses

Admin & Overhead Expenses Profit before provisions & finance costs

WTLC Annual Report | 5


Wests In The Community

Northcott Disability Services Funding allowed

Northcott Disability Services to purchase and erect an additional shade sail over the playground equipment. During their stay at the centre based respite house, children can now access the playground at all times during the day in cool, sun-smart comfort.

Australian Air League The Australian Air League is a not for profit children’s organisation primarily for girls aged over 8 years and encourages an interest in aviation as a career or as a hobby. Funding will be used to assist the squadron participate in activities.

Tamworth Regional Craft Centre Funding will be used to purchase a kiln for the development of a ceramics studio. The studio will allow the now defunct TAFE group and other ailing ceramics courses to be re-established.

Nioka Palliative Care Unit This was the Neighbours

Choice Award for 2011. In December each year, at the Wests Neighbourhood Pa r t n e r s h i p P r o g r a m Meeting, neighbours have the opportunity to nominate a local charity that has assisted them or someone they know. The charity that receives the highest number of nominations receives a $500 donation and a plaque. 6 | WTLC Annual Report

CMAA Academy of Country Music Funding is used to support two students at the 2012 CMAA Academy of Country Music.


The Wests Entertainment Group believes that by responding to community needs and working in partnership, we can contribute toward making communities where we do business better places to live and work. Here are some of the community groups that Wests has contributed to this year. Tamworth Toy Library The Tamworth Toy Library

provides children with good quality, fun and educational toys. Funding has been used to purchase toys as a lot of the toys were outdated.

Tamworth St. John Ambulance Division Funding allowed the

OVA Netball Club Funding will be used to assist the club’s members with registration fees, uniforms, coaching clinics, umpire seminars and players clinics for 2012.

Service to refurbish their caravan which is used as a mobile first aid post.

’s Auxiliary Tamworth RSL Women The Tamworth RSL Women’s Auxiliary receives in-kind

support of free room hire for their 2012 monthly meetings and badge-selling days.

Tamworth City BMX Club Funding will be used for track maintenance and to rebuild and reinvigorate the track. This will include purchase of new dirt and track resurfacing. Money donated to the club will also assist with members’ registration fees, uniforms, coaching clinics, umpire seminars and players’ clinics for 2012 plus provide sprocket bags for new riders and rider of the month vouchers.

WTLC Annual Report | 7


TEAM MEMBER OF THE MONTH

July 2011

August 2011

September 2011

October 2011

Stewart Robertson

Lindsay Fogarty

Mick Smithers

Kylie Driver

November 2011

December 2011

January 2012

February 2012

Scott Abra

Andrew Marshall

Lynette Aworth

Mason Whitehorn

March 2012

April 2012

May 2012

June 2012

Alexandra Hunt

Colin Lesley

Judy Wood

8 | WTLC Annual ReporT

Lyndal Fergie


DIRECTORS REPORT

For the Year Ended 30 June 2012

Directors The names of the directors in office at any time during, or since the end of, the year are:

Names

Position

John McClelland

President

Anthony Hollis

Vice President

Maxwell Sharpe

Treasurer

Robert Both

Director

Alice Edmunds

Director

Dennis Gross

Director

Terry Psarakis

Director

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Company Secretary Mr Rodney John Laing held the position of the company secretary at the end of the financial year. Principal Activities The principal activities of West Tamworth League Club Limited during the financial year were: - Operating a licensed club including the activities of liquor, gaming, catering, sports. - Providing facilities for members. No significant change in the nature of these activities occurred during the year. Objectives and Strategies Objectives The short-term objectives of the club are capital improvements to facilities and the enhancement of the customer experience through products and services. The company strives as a matter of priority to be a responsible provider of products within the community. The long-term objectives of the company are to provide facilities and entertainment for its members and support to the wider community through provision of amenities for sport and recreation. The company through its main charter assists in the promotion of rugby league and through its memorandum of amalgamation supports the traditions of the RSL movement. Strategies The strategies to meet the objectives are centred on maintenance of existing operations with the development of new enhanced facilities and amenities. Core activities were the consistent provision of service and entertainment to the membership and community support. Director Information Name

Position

John McClelland President Anthony Hollis

Qualifications

Experience

Retired

26 years as Director Membership Committee, Compliance Committee Membership Committee, Compliance Committee, 9 years as Director Finance Committee Membership Committee, Finance Committee, 18 years as Director Sponsorship Committee

Vice President Training Advisor

Special Responsibilities

Maxwell Sharpe Treasurer

Company Director

Robert Both

Director

Dental Technician

14 years as Director Sponsorship Committee, Neighbourhood Committee

Alice Edmunds

Director

Retired

7 years as Director

Neighbourhood Committee

Dennis Gross

Director

Retired

7 years as Director

Sponsorship Committee, Sports Committee

Terry Psarakis

Director

Accountant

2 years as Director

Finance Committee

Meetings of Directors The numbers of meetings of directors and of each committee meeting held during the financial year and the members of meetings attended by each director were: Directors’ Meetings

John McClelland Anthony Hollis Maxwell Sharpe Robert Both Alice Edmunds Terry Psarakis Dennis Gross

Sponsorship Committee Meetings

Membership Committee Meetings

Eligible to attend

Number attended

Eligible to attend

Number attended

Eligible to attend

Number attended

12 12 12 12 12 12 12

11 11 12 12 9 9 11

12 12 12

12 12 11

12 12 12 -

10 8 12 -

WTLC Annual Report | 9


Incorporation and Member’s Guarantee The club is incorporated under the Corporations Act 2001 as a company limited by guarantee. If the club is wound up, the constitution states that each member is required to contribute a maximum of $4 towards meeting any outstanding obligations of the club. At 30 June 2012 the number of members was 20,586 (2011:20,506). 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 at page 10. Non-Core Property Non-core property is disclosed in Note 22. Signed in accordance with a resolution of the Board of Directors:

Director Director John McClelland Maxwell Sharpe Dated 29 August 2012

Auditor’s Independence Declaration Auditors Independence Declaration under Section 307C of the Corporations Act 2001 I declare that, to the best of my knowledge and belief, during the year ended 30 June 2012 there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and (ii) no contraventions of any applicable code of professional conduct in relation to the audit.

Paul Cornall Partner 29 August 2012

127 Marius Street, Tamworth, NSW 2340 p +61 2 6763 0100 f +61 2 6766 8538 e tamworth@forsyths.com.au ABN 24 935 296 225

  10 | WTLC Annual Report


Statement of Comprehensive Income For the Year Ended 30 June 2012 Note Sales revenue

2011

$

$

19,833,872

19,522,638

Cost of sales

(4,977,769)

(4,940,151)

Gross profit

14,856,103

14,582,487

Other income

2

2012

2

Marketing expenses

303,618

34,692

(1,420,528)

(1,392,546)

(209,470)

(205,829)

(2,779,159)

(2,567,063)

Occupancy costs Administrative expenses Entertainment costs

(771,484)

(883,851)

Operating costs

(6,825,502)

(6,622,157)

Other expenses

(1,777,433)

(1,466,375)

(11,887)

(93,548) 1,385,810

Finance costs Profit before income tax

3

1,364,258

Income tax expense

4

-

-

1,364,258

1,385,810

Profit for the year Other comprehensive income Total profit and comprehensive income for year

-

-

1,364,258

1,385,810

Statement of Financial Position For the Year Ended 30 June 2012 Note

2012

2011

$

$

ASSETS Current assets Cash and cash equivalents

7

2,219,575

1,689,529

Trade and other receivables

8

45,895

75,460

Inventories

9

203,588

212,226

Other assets

10

222,146

193,065

2,691,204

2,170,280

Total current assets Non-current assets Property, plant and equipment

11

23,256,521

22,500,944

Intangible assets

12

1,257,587

557,780

Total non-current assets

24,514,108

23,058,724

TOTAL ASSETS

27,205,312

25,229,004

1,625,448

1,317,432

LIABILITIES Current liabilities Trade and other payables

13

Borrowings & lease liabilities

14

581,647

328,000

Employee benefits

15

1,284,211

1,111,765

3,491,306

2,757,197

567,241

689,300

Total current liabilities Non-current liabilities Borrowings & lease liabilities

14

Total non-current liabilities TOTAL LIABILITIES NET ASSETS

567,241

689,300

4,058,547

3,446,497

23,146,765

21,782,507

EQUITY 6,459,878

6,459,878

Retained earnings

Reserves

16

16,686,887

15,322,629

TOTAL EQUITY

23,146,765

21,782,507

The accompanying notes form part of these financial statements. WTLC Annual Report | 11


Statement of Changes in Equity For the Year Ended 30 June 2012 2012 Asset Realisation Reserve $

Retained Earnings $ Balance at 1 July 2011 Comprehensive income for the year Balance at 30 June 2012

Total $

15,322,629

6,459,878

21,782,507

1,364,258

-

1,364,258

16,686,887

6,459,878

23,146,765

2011 Asset Realisation Reserve $

Retained Earnings $ Balance at 1 July 2010 Comprehensive income for the year Balance at 30 June 2011

Total $

13,936,819

6,459,878

20,396,697

1,385,810

-

1,385,810

15,322,629

6,459,878

21,782,507

Statement of Cash Flows For the Year Ended 30 June 2012 Note

2012

2011

$

$

Cash from operating activities: Receipts from customers Payments to suppliers and employees Interest received Finance costs

22,078,225

21,468,684

(19,085,563)

(18,812,235)

60,662

34,692

(11,887)

(93,548)

3,041,437

2,597,593

16,779

152,442

Payment to acquire property, plant and equipment

(1,518,239)

(1,297,052)

Net cash provided by (used in) investing activities

(1,501,460)

(1,144,610)

Repayment of borrowings

(689,300)

(1,470,935)

Payment of finance lease liabilities

(305,172)

-

Net cash provided by (used in) financing activities

(994,472)

(1,470,935)

545,505

(17,952)

1,674,070

1,692,022

2,219,575

1,674,070

Net cash provided by (used in) operating activities

20

Cash flows from investing activities: Proceeds from sale of plant and equipment

Cash flows from financing activities:

Net increase (decreases) in cash held Cash at beginning of financial year Cash at end of financial year

7

The accompanying notes form part of these financial statements.   12 | WTLC Annual Report


Notes to the Financial Statements

For the Year Ended 30 June 2012

1. Summary of Significant Accounting Policies a. General information The financial statements are for West Tamworth League Club Limited as an individual entity, incorporated and domiciled in Australia. West Tamworth League Club Limited is a company limited by guarantee.

b. Basis of preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001. Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions to which they apply. Compliance with Australian Accounting Standards ensures that the financial statements and notes also comply with International Financial Reporting Standards. Material accounting policies adopted in the preparation of this financial report are presented below. They have been consistently applied unless otherwise stated. The financial statements has been prepared on an accruals basis and is based on historical costs modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.

c. Revenue Revenue from the sale of goods is recognised at the point of delivery as this corresponds to the transfer of significant risks and rewards of ownership of the goods and the cessation of all involvement in those goods. Interest revenue is recognised on a proportional basis taking into account the interest rate applicable to the financial assets. Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. Donations are recognised at the time the pledge is made. Grants are recognised at their fair value when it is received. All revenue is stated net of the amount of goods and services tax (GST).

d. Income taxes The income tax expense (revenue) for the year comprises current income tax expense (income) and deferred tax expense (income). The Income Tax Act 1997 (as amended) provides that under the concept of member mutuality, clubs are only liable for income tax derived from non-members. Current income tax expense charged to the profit or loss is the tax payable on taxable income calculated using applicable income tax rates enacted, or substantially enacted, as at reporting date. Current tax liabilities (assets) are therefore measured at the amounts expected to be paid to (recovered from) the relevant taxation authority. Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability balances during the year as well as unused tax losses. Current and deferred income tax expense (income) is charged or credited directly to equity instead of the profit or loss when the tax relates to items that are credited or charged directly to equity. Deferred tax assets and liabilities are ascertained based on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax assets also result where amounts have been fully expensed but future tax deductions are available. No deferred income tax will be recognised from the initial recognition of an asset or liability, excluding a business combination, where there is no effect on accounting or taxable profit or loss. Deferred tax assets and liabilities are calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates enacted or substantively enacted at reporting date. Their measurement also reflects the manner in which management expects to recover or settle the carrying amount of the related asset or liability. Deferred tax assets relating to temporary differences and unused tax losses are recognised only to the extent that it is probable that future taxable profit will be available against which the benefits of the deferred tax asset can be utilised.

e. Leases Finance leases Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership, are transferred to the company are classified as finance leases. In accordance with accounting standards, the gross lease liabilities have been discounted to net present value as the company has obtained a benefit from securing these leases on interest free terms. This discount has been recorded as revenue in the Statement of Comprehensive Income. In future years the discount will unwind as the company pays the gross lease payments. This adjustment is included in finance costs in the Statement of Comprehensive Income. Finance leases are capitalised, recording an asset and a liability equal to the present value of the minimum lease payments, including any guaranteed residual values. Leased assets are depreciated on a straight-line basis over their estimated useful lives. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

f.

Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the statement of financial position.

g. Inventories Inventories are measured at the lower of cost and net realisable value.

WTLC Annual Report | 13


h. Property, plant and equipment Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses.

Property Freehold land and buildings are shown at their cost less, where applicable, any accumulated depreciation and impairment losses.

Plant and equipment Plant and equipment are measured on the cost basis. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount of plant and equipment for non-profit entities is the current replacement cost discounted to current asset condition.

Depreciation The depreciable amount of all fixed assets including buildings, but excluding freehold land, is depreciated on a straight-line basis over the asset’s useful life to the company commencing from the time the asset is held ready for use. The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Buildings and Improvements Plant and Equipment Furniture, Fixtures and Fittings Poker Machines Motor Vehicles Office Equipment

1.0% 10.0 - 20.0% 7.5 - 15.0% 27.0% 23.0% 10.0 - 30.0%

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date. i.

Intangible assets Poker Machine Entitlements The company, as a result of state legislation, received for no cost, poker machine entitlements for those machines it held at the time the legislation was enacted. These entitlements can be sold should the company decide to reduce or cease its poker machine activities. The company has not recorded these initial poker machine entitlements in the financial report as there was no fair value on acquisition of these entitlements. The company has subsequently acquired a number of poker machine entitlements which were recognised at cost upon acquisition. These poker machine entitlements have an indefinite life and as a result those acquired and capitalised since the legislation was enacted have not been amortised. Poker machine entitlements are tested for impairment annually or more frequently if events or changes in circumstances indicate that might be impaired, and are carried at cost less accumulated impairment losses. Software Software is recorded at cost. Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of three years. Amortisation Amortisation is based on the cost of an asset less its residual value. Amortisation is recognised in the Statement of Comprehensive Income on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that they are available for use. Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

j.

Financial instruments Recognition and Initial Measurement Financial instruments, incorporating financial assets and financial liabilities, are recognised when the company becomes a party to the contractual provisions of the instruments. Trade date accounting is adopted for financial assets that are delivered within timeframes established by marketplace convention. Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below. Derecognition Financial assets are derecognised where the contractual rights to receipt of cash flows expires or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are either discharged, cancelled or expire. The difference between the carrying value of the financial liability extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non-cash assets or liabilities assumed is recognised in profit or loss. Classification and subsequent measurement Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost using the effective interest rate method. Financial liabilities Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation. Impairment of Assets At each reporting date, the company assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the statement of comprehensive income.

k.

Employee benefits Provision is made for the company’s liability for employee benefits arising from services rendered by employees to balance date. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled. Employee benefits payable later than one year have been measured at present value of the estimated future cash outflows to be made for those benefits.

  14 | WTLC Annual Report


l.

Borrowing costs Borrowing costs are recognised in the income statement in the period in which they are incurred.

m. Trade and other payables Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability. n.

Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the statement of financial position are shown inclusive of GST. Cash flows are presented in the statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.

o.

Comparatives When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

p.

Critical accounting estimates and judgments The directors evaluate estimates and judgments incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and based on current trends and economic data, obtained both externally and within the company.

Key estimates - impairment of plant and equipment The company assesses impairment at the end of the reporting year by evaluating conditions specific to the company that may be indicative of impairment triggers. Recoverable amounts of relevant assets are reassessed using value-in-use calculations which incorporate various key assumptions.

Key estimates - useful lives of assets The company determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down. q.

New accounting standards for application in future periods The AASB has issued new and amended accounting standards and interpretations that have mandatory application dates for future reporting periods. The company has decided against early adoption of these standards as none of the changes are expected to have a material affect on the company.

2.

Revenue 2012 $ Sales revenue - Bar - Sales - Catering Sales - Bottle Shop Sales - Poker Machines - Net clearances - Gaming Commissions - Bingo and Raffle Income - Concert Ticket Sales - Keno Income - Other Income - Membership Subscriptions Total Revenue

2,875,492 3,161,197 412,572 11,550,920 105,099 501,445 400,400 153,601 496,589 176,557 19,833,872 2012 $

Other revenue - Interest - cash at bank - Net present value discount finance leases - Linked jackpot refund claim Total other income 3.

1(e)

60,662 153,916 89,040 303,618

2011 $ 2,864,421 2,924,373 386,217 11,431,051 99,861 487,495 510,673 159,172 487,762 171,613 19,522,638 2011 $ 34,692 34,692

Profit for the Year 2012 $ Expenses Finance Costs: Interest paid to bank Total finance costs Cost of Sales Depreciation and Amortisation

11,887 11,887 4,977,769 1,324,177

WTLC Annual Report | 15

2011 $

93,548 93,548 4,940,151 1,032,996


4.

5.

Income tax expense The prima facie tax on profit from ordinary activities before income tax is reconciled to the income tax as follows: 2012 2011 $ $ Prima facie tax payable on profit from ordinary 409,278 415,744 activities before income tax at 30% (2011: 30%) Add: Tax effect of: - Principal of Mutuality adjustment and permanent differences (524,677) (525,709) - Adjustment for unrecognised losses 115,399 109,965 Income tax attributable to entity The company has unrealised tax losses of $714,421 (2011: $599,022) at a tax rate of 30%. No deferred tax asset has been taken up, as it is not probable that these losses will be utilised in future years. Key Management Personnel Compensation Key management personnel include the Chief Executive Officer/Company Secretary, Deputy Chief Executive Officer, Operations Facility Manager Wests, Operations Facility Manager Wests’ Diggers and Director’s honorarium. Short-term Post employment Total $ benefit $ benefit $ 2012 Total compensation 2011 Total compensation

6.

430,953 410,540

49,316 47,702

Auditors’ Remuneration 2012 $ Remuneration of the auditor of the company for: - Auditing or reviewing the financial report - Taxation services

7.

480,269 458,242

2011 $

41,250 12,400 53,650

28,730 14,820 43,550

2012 $ 456,492 135,164

2011 $ 524,024 27,000

1,627,919

1,138,505

2,219,575

1,689,529

Cash and cash equivalents

Cash on hand Cash at bank Short-term bank deposits

Reconciliation of Cash Cash at the end of the financial year as shown in the cash flow statement is reconciled to items in the balance sheet as follows: 2012 2011 $ $ Cash and cash equivalents 2,219,575 1,689,529 Bank overdraft 14 (15,459) 2,219,575 1,674,070 8.

Trade and other receivables 2012 $ CURRENT Trade receivables a.

2011 $

45,895 45,895

75,460 75,460

2012 $ 32,952 5,469 4,313 3,160 45,894

2011 $ 37,667 5,904 1,755 30,134 75,460

Aged analysis The ageing analysis of receivables is as follows:

0-30 days 31-60 days 61-90 days (past due not impaired) 91+ days (past due not impaired) No provision for impairment was required for 2011 or 2010.   16 | WTLC Annual Report


9.

Inventories 2012 $ CURRENT At Cost Finished goods

203,588 203,588

2011 $

212,226 212,226

10. Other Assets 2012 $ CURRENT Prepayments

222,146 222,146

2011 $

193,065 193,065

11. Property, plant and equipment 2012 $ LAND AND BUILDINGS Freehold land At cost Total land Building At cost Capital Works In Progress Accumulated depreciation Total buildings Total land and buildings PLANT AND EQUIPMENT At cost Accumulated depreciation Total plant and equipment Computer equipment Under lease Accumulated amortisation Total computer equipment Crockery, glass & linen at cost Total plant and equipment Total property, plant and equipment

2011 $

1,000,000 1,000,000

1,000,000 1,000,000

19,234,493 83,930 (1,305,983) 18,012,440 19,012,440

19,166,294 (1,113,638) 18,052,656 19,052,656

12,513,910 (8,516,252) 3,997,658 202,620 (78,967) 123,653

12,126,000 (8,796,356) 3,329,644 -

122,770 4,244,081

118,644 3,448,288

23,256,521

22,500,944

Movements in Carrying Amounts Movement in the carrying amount for each class of property, plant and equipment between the beginning and the end of the current financial year Plant and Computer Crockery, Glass Land Buildings Total Equipment Equipment & Linen $ $ $ $ $ $ Balance at the beginning of year 1,000,000 18,052,656 3,329,644 118,644 22,500,944 Additions 152,130 1,727,081 202,620 4,126 2,085,957 Disposals - written down value (34,112) (34,112) Depreciation expense (192,346) (1,024,955) (78,967) (1,296,268) Carrying amount at the end of year 1,000,000 18,012,440 3,997,658 123,653 122,770 23,256,521 12. Intangible assets 2012 $ 727,717 (27,910) 699,807

Computer software, other cost Accumulated amortisation and impairment Net carrying value Poker Machines Entitlements cost

557,780 1,257,587

Total Intangibles

WTLC Annual Report | 17

2011 $ 557,780 557,780


13. Trade and other payables

CURRENT Unsecured liabilities Trade payables Amounts received in advance Other payables Revenue in Advance

2012

2011

$

$

983,830 131,987 411,646 97,985 1,625,448

650,561 118,745 429,679 118,447 1,317,432

14. Borrowings

CURRENT Secured liabilities Bank overdraft Finance lease obligations

17

NON-CURRENT Secured liabilities Finance lease obligations Bank loans a.

17

2011

$

$

581,647 581,647

15,459 312,541 328,000

2012

2011

$

$

567,241 567,241

689,300 689,300

Total current and non-current secured liabilities

Bank overdraft Bank loans Finance lease obligations b.

2012

2012

2011

$

$

1,148,888 1,148,888

15,459 689,300 312,541 1,017,300

The carrying amounts of non-current assets pledged as security are: 2012 $ 19,012,440 19,012,440

First mortgage over freehold land and buildings

2011 $ 19,052,656 19,052,656

15. Employee Benefits

CURRENT Provision for long service leave Annual leave entitlements

2012

2011

$

$

556,496 727,715 1,284,211

425,219 686,546 1,111,765

16. Reserves Asset Revaluation Reserve The asset revaluation reserve records revaluations of non current assets. 17. Capital and Leasing Commitments Finance Lease Commitments 2012 $ Payable - minimum lease payments - no later than 12 months - between 12 months and 5 years Minimum lease payments Less: interest free net present value discount Present value of minimum lease payments

1(e)

581,647 696,264 1,277,911 (129,023) 1,148,888

2011 $ 319,450 319,450 (6,909) 312,541

The finance lease and hire purchases are secured over the assets acquired with the lease or hire purchase agreement. Finance leases are on an interest free basis and therefore in accordance with accounting standards discounted to net present value with the discount taken to revenue.

  18 | WTLC Annual Report


Capital expenditure commitments

Capital expenditure commitments contracted for: Multi Level Car Park Payable: - no later than 1 year

2012

2011

$

$

2,500,000 2,500,000

-

18. Financial instruments Financial Risk Management Policies The company’s financial instruments consist mainly of deposits with banks, short-term investments, accounts receivable and payable and bank loans. The main purpose of those financial instruments is to raise finance for the company’s operations. The Board’s overall risk management strategy seeks to meet the company’s financial targets, whilst minimising potential adverse effects on financial performance. The Board is focused on debt repayment and interest expense reduction as well as maintaining healthy cash reserves and borrowing capacity. The company does not have any derivative instruments at 30 June 2012. a.

Treasury Risk Management The company director’s do not believe the company has any significant Treasury risks. Cash is only held in bank accounts or on hand for operational purposes. The director’s previously actively offset cash assets against loans to reduce interest paid. The company paid all its bank finance loans during the 2012 financial year. The company strategy is to avoid the use of long-term debt and maintain high levels of unused bank loan facilities.

b.

Credit risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets, is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial statements. The profile of the club’s credit risk at 30 June 2012 was as follows:

Percentage of sundry (unsecured) receivables - Current - Overdue

2012

2011

$

$

93.5% 6.5 %

25% 75%

Although the company has a portion of receivables past due, the company does not consider there to be sufficient risk of collection of these receivables to require a doubtful debts provision. The company does not have any material credit risk exposure to any single receivable or group of receivables. c.

Foreign exchange risk The company is not exposed to fluctuations in foreign currencies.

d.

Liquidity risk The company manages liquidity risk by monitoring forecast cash flows and ensuring that adequate unutilised borrowing facilities are maintained. Further, the company maintains significant cash on hand and at bank to manage day to day operations.

e.

Price risk The company is not exposed to any material commodity price risk.

f.

Interest Rate Risk Financial instrument composition and maturity analysis The company’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in the market interest rates and the effective weighted average interest rates on classes of financial assets and financial liabilities, is calculated below. The company fixes the interest rate on a significant portion of its debt’s (bank bills, lease and hire purchase). The remaining assets and liabilities are at floating interest rates. The tables below reflect the undiscounted contractual settlement terms for financial instruments of a fixed period of maturity, as well as management’s expectations of the settlement period for all other financial instrument. As such the amounts may not reconcile to the balance sheet. Weighted Average Effective Interest Rate 2012 %

Financial Assets: Cash & cash equivalents Receivables Total Financial Assets

-

Financial Liabilities: Bank overdrafts Bank Loan Trade & sundry payables Finance lease liabilities Total Financial Liabilities

-

2011 % 3.50

4.75 -

5.10

6.75 6.35 -

Floating Interest Rate 2012 $

2011 $

1,763,083 1,763,083

1,165,505 1,165,505

-

15,459 689,300 704,759

WTLC Annual Report | 19

Non-interest Bearing 2012 $ 456,492 45,894 502,386

1,625,448 1,148,888 2,774,336

2011 $ 524,024 75,460 599,484

1,317,432 312,541 1,629,973

Total 2012 $

2011 $

2,219,575 45,894 2,265,469

1,689,529 75,460 1,764,989

1,625,448 1,148,888 2,774,336

15,459 689,300 1,317,432 312,541 2,334,732


i.

ii. Sensitivity Analysis Interest rate risk: The company has not performed a sensitivity analysis relating to its exposure to interest rate risk at balance date as the directors do not believe the sensitivity analysis is material.

Net fair values: The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the balance sheet and in the notes to the financial statements.

19. Capital Management Management controls the capital of the company to ensure that adequate cash flows are generated to fund its operations and that returns from investments are maximised. The company’s capital consists of financial assets and liabilities. Management effectively managed the company’s capital by assessing the company’s financial risks and responding to changes in these risks. Responses may include the consideration of debt levels and maintaining adequate cash reserves. There has been no change in the capital management strategy of the company since the previous year. 20. Cash Flow Information a.

Reconciliation of Cash Flow from Operations with Profit after Income Tax 2012 Profit for the year Cash flows excluded from profit attributable to operating activities Non-cash flows in profit Depreciation and amortisation Net (gain)/loss on disposal of property, plant and equipment Net present value discount on finance leases Changes in assets and liabilities (Increase)/decrease in trade and term receivables (Increase)/decrease in prepayments (Increase)/decrease in inventories Increase/(decrease) in trade payables and accruals Increase/(decrease) in provisions Cashflow from operations

b.

$ 1,385,812

1,324,177 17,335 (153,916)

1,032,996 32,452 -

29,565 (29,081) 8,638 308,015 172,446 3,041,437

(6,220) (5,100) 9,216 101,311 47,126 2,597,593

Acquisition of plant and equipment by means of finance leases 2012 $ 567,718 727,717 1,295,435

Computer equipment and plant and equipment Computer software

c.

2011

$ 1,364,258

2011 $ -

Credit Standby Arrangement and Loan Facilities The company has unused bank lending facilities amounting to $2,100,000. Interest rates are variable.

21. Related party transactions Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated. 22. Core and Non-core property Core property is defined as any real property owned by the company that comprises the defined premises of the club or any facility provided by the club for the use of its members and their guests. Pursuant to section 41J of the Registered Clubs Act 1976 the following properties are considered core property of West Tamworth League Club Limited: 1) Wests’ Diggers Club, Lot 1 DP 1142453, 4 Kable Avenue Tamworth NSW 2340. 2) West Tamworth League Club, Lot 2 DP815862, 58 Phillip Street West Tamworth NSW 2340. The company does not hold any non-core property as at 30 June 2012 or 2011. 23. Company Details Registered office The registered office of the company is: West Tamworth League Club Limited 58 Phillip Street West Tamworth NSW 2340 Principal place of business The principal places of business are: West Tamworth League Club Limited 58 Phillip Street West Tamworth NSW 2340 and Wests’ Diggers 4 Kable Avenue Tamworth NSW 2340

  20 | WTLC Annual Report


DIRECTORS DECLARATION The directors of the company declare that: 1. The financial statements and notes, as set out on pages 6 to 30, are in accordance with the Corporations Act 2001 and: (a) comply with Accounting Standards and the Corporations Regulations 2001; and (b) give a true and fair view of the financial position as at 30 June 2012 and of the performance for the year ended on that date of the company. 2. In the directors opinion, there are reasonable grounds to believe that the company 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 Board of Directors.

John McClelland Maxwell Sharpe Director Director Dated 29 August 2012

Independent Audit Report Report on the Financial Statements We have audited the accompanying financial statements of West Tamworth League Club Limited, which comprises the statement of financial position as at 30 June 2012, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration. Directors’ Responsibility for the Financial Statements The directors of the company are responsible for the preparation of the financial statements that give a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of West Tamworth League Club Limited, would be in the same terms if given to the directors as at the time of this auditor’s report. Auditor’s Opinion In our opinion the financial report of West Tamworth League Club Limited is in accordance with the Corporations Act 2001, including: (a) giving a true and fair view of the company’s financial position as at 30 June 2012 and of its performance for the year ended on that date; and (b) complying with Australian Accounting Standards and the Corporations Regulations 2001.

Paul Cornall Partner, Forsyths 127 Marius Street, Tamworth, NSW 2340 29 August 2012

WTLC Annual Report | 21


Annual General Meeting NOTICE IS HEREBY GIVEN THAT THE Annual General Meeting of West Tamworth League Club Limited ABN 26 001 037 832 is to be held at the Club premises 58 Phillip Street, West Tamworth, New South Wales on Tuesday 27 November 2012 at 6.30pm. The Financial Accounts can be viewed in PDF format on the Club’s website www.wtlc.com.au or on written request to the Chief Executive Officer – Company Secretary. Only FULL FEE, PENSIONER, TAMWORTH RSL, HONORARY LIFE and GOLD LIFE MEMBERS of the Club are entitled to attend and vote. BUSINESS: 1.

APOLOGIES.

2.

CONFIRMATION of the Minutes of the previous Annual General Meeting held Tuesday 29 November 2011.

3.

REPORTS: To lay the Financial Report, Directors’ Report and Auditor’s Report for the year ended 30 June 2012 before the meeting.

4.

ORDINARY RESOLUTION 1: That the members hereby approve that the Club’s Board of Directors shall be entitled to receive the following benefits for the twelve (12) month period preceding the 2013 Annual General Meeting and the members further acknowledge that these benefits are only available to those members who are elected to the Club’s Board of Directors: i.

Reasonable meals and refreshments for each director of the Club at Board or Committee meetings;

ii.

Reasonable costs or expenses of attending functions whilst representing the Club (with partners where appropriate) or in undertaking such other duties as may be approved from time to time by the Board;

iii. Reasonable costs or expenses in relation to the professional development and education of directors of the Club, including (but not limited to): • Attending meetings of associations of which the Club is a member or directors of the Club are members; • Attending conferences, seminars, lectures, trade displays, organised study tours, fact finding tours and other similar events (whether held within Australia or overseas) as may be determined by the Board from time to time; • Attending other registered clubs or gaming venues for the purpose of observing their facilities and methods of operation. iv.

Provision of a blazer and associated apparel.

v.

Provision of specially reserved parking spaces at the Club.

5.

DECLARATION OF DIRECTORS.

6.

ELECTION OF OFFICE BEARERS.

7.

GENERAL BUSINESS (of which due notice has been given) that may be brought before the meeting in accordance with the rules of the Club.

PROCEDURAL MATTERS 1. To be passed ORDINARY RESOLUTION 1 requires votes from a simple majority of members who being eligible to do so vote in person on the ordinary resolution at the meeting. 2. Under the Registered Clubs Act 1976: a. members who are employees of the club are not entitled to vote; and b. proxy voting is prohibited.

DATED: 31 August 2012 BY Direction of the Board

Rod Laing Chief Executive Officer – Company Secretary

  22 | WTLC Annual Report


VOTING DATES & TIMES

MEMBERS INFORMATION

Number of Positions to be Elected The number of positions to be elected is two (2).

Election Rules The 2012 Board of Directors election is being conducted in accordance with rule 56 of the Constitution. Close of Role The role of members entitled to vote will close on October 16. Method of Voting will be the ones who receive the highest number of valid votes. How to Vote You may submit your vote in person only. Voting will be conducted at West Tamworth League Club, Phillip Street, West Tamworth & Wests Diggers, Kable Avenue, Tamworth between the following times.

Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday

16 November 17 November 18 November 19 November 20 November 21 November 22 November 23 November

10am to 8pm 10am to 4pm 10am to 4pm 10am to 8pm 10am to 8pm 10am to 8pm 10am to 8pm 10am to 6pm

Maxwell (Max) Sharpe • • • •

Company Director / Farmer & Grazier • Board Previously 28 years in the Banking Industry member Married Board Member 18 years - Club Treasurer last 17 years

for 25 years

• Current President and have been for 18 years

CANDIDATE INFORMATION

If re-elected will continue to work hard to maintain the Wests Entertainment Group as the leaders in the Club Industry in northern NSW.

James (Jim) Cox • Have overseen major expansion works at both clubs • Previous Board member for 10 years and during that time held the position ofVice President for 8 years • Senior Vice President of Group 4 Rugby League • Retired Builder / Building Consultant

Robert Both Has been a member of Wests since1975 and a member of Wests Fishing Club since 1989. Born in Tamworth and trained as a Dental Technician in Sydney & Wollongong. Has owned & operated RG & EM Both Dental Laboratory since 1976. Has served the local community for 18 years through West Tamworth Apex Club, 1st South Tamworth Scout Group as Scout Leader & Group Leader and is

• Senior Vice President of Group 4 Rugby League

family. Has been on Wests Board for the past 14 years. Is married to Ellen and has two children, Jon and Karen.

ANY ENQUIRIES CONCERNING THIS ELECTION SHOULD BE DIRECTED TO THE RETURNING OFFICER, JAMES ROGER OF FORSTYHS – 6763 0100

ANY ENQUIRIES CONCERNING THIS ELECTION SHOULD BE DIRECTED TO THE RETURNING OFFICER, JAMES ROGER OF FORSYTHS – 6763 0100


Phillip St, West Tamworth NSW 2340 Ph: 02 6765 7588 Fax: 02 6765 1508 Email: info@tamworthwests.com.au www.wtlc.com.au

Kable Ave, Tamworth NSW 2340 Ph: 02 6766 4661 Fax: 02 6766 4419 Email: info@tamworthwests.com.au www.wtlc.com.au

If not claimed within 7 days please return to PO Box 3040 West Tamworth NSW 2340

POSTAGE

PAID

AUSTRALIA

  24 | WTLC Annual Report

Wests Annual Report 2012  

The Wests Annual Report for 2012

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