WTLC Annual Report | 1
Wests’ Board of Directors 2012 - 2013
CHIEF EXECUTIVE OFFICER
HonORary Life Members +Edward Harrison
+S.H. (Lee) Allen
+ Ken Chillingworth
+ Member Deceased
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John McClelland +Jack McGilvray
PRESIDENT’s Report Dear members As president of the Wests Entertainment Group it is, once again, my pleasure to present the club’s annual report for the financial year ending 30 June 2013. The last twelve months have produced 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 $3.077 million, which is an outstanding result. The combined club poker machine profits of $11.976 million were also pleasing. The Wests group had a net turnover of $20.495 million in the last financial year, a wages bill of $5.310 million, purchases of food and beverages of $2.650 million, repairs and maintenance of $406,753, poker machine and payroll tax of $2.742 million and payments made to members and guests as gaming prizes, amenities, entertainment and promotions of $37.336 million. This year’s outstanding result has been achieved after a lot of hard work from a lot of people including the Wests management team and all the staff, headed up by CEO Rod Laing. On behalf of the board of directors, we say thank you for a magnificent effort.
rooms as well as a 4 star hotel rating. It is hoped that building works will commence in the second half of 2014. As we head into summer and the storm season, I am reminded about one of the board’s greatest investments, that being our generator. This generator, when required, supplies all Wests’ power needs. So when the lights go out at your home, remember the lights are always on at Wests and a home-style meal and a hot or cold beverage awaits you. I would also like to take the opportunity to thank my fellow board members for their ongoing support of delivering better club facilities for our members.Their hard work and dedication has certainly not gone unnoticed by our club membership. The Wests Entertainment Group plays a major role in financially supporting your community. This year was no exception as we supported a total of 148 individuals, community groups and sporting bodies. We are firm believers of being involved in the community in which we do business. 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. The board and I welcome your comments, suggestions or concerns. You may contact us by either mail or email. Our email address is firstname.lastname@example.org. 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, to log onto our website www.wtlc.com.au, like us on Facebook Wests Entertainment Group or follow us on Twitter @Tamworthwests. We rely on these vehicles to communicate with you, the member.
2013 also presented another milestone for our group as we officially opened the new multilevel car park at Wests. The additional new car spaces will assist Wests with our expansion plans into the future. Wests’ master plan was revealed at last year’s AGM and it is hoped that in 2014 the next step of that master plan will commence. This step includes the development of a hotel that will be built adjacent to the club.
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 look forward to seeing you at the Annual General Meeting to be held on Tuesday November 26 commencing at 6.30pm at Wests, Phillip Street.
Last year the board engaged a consultant to determine the viability of a hotel and the findings included a recommendation of approximately 52
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 52nd annual report and balance sheets for the year ended 30 June 2013. As I write this report spring has arrived and we are all waiting for those much-needed spring rains, a new federal government is in power and it is hoped that common sense prevails when their attention turns to poker machine reforms, as many of the outgoing government’s restrictions would have made club business very difficult. Financially, the group has recorded a fantastic result. An operating profit of $3.077 million before provisions and finance costs and a net profit of $1.058 million was realised. This year, Wests’ trading has been outstanding, resulting in an operating profit of $2.539 million before provisions and finance costs, while Diggers has returned a very good profit of $538,329. I would like to thank the Wests board, headed by president John McClelland, which has worked tirelessly throughout the past year. It is not possible to achieve such great results if the engine room is not running at its peak. This is the responsibility of our management team and I can’t thank them enough for their strong contribution and support of a job well done. My special thanks to Eileen Smyth and Michelle Bullock for their behind-the-scenes support. Our Wests group team members are responsible for creating a great member experience. Our success has been dependent on doing what we have done best from the very beginning – delivering great products and excellent service.
We now have a total of 20,683 members. Our membership just keeps growing and it is with your continued support that will drive our future success. Today we live in a tough economic climate with rising living costs and this is where we need to deliver value to our membership. It is our membership that drives the need to change. We understand that many members are financially constrained and are budget conscious; some members are young and are just starting out and entering the workplace while others have recently retired and are living on a fixed income. This is where we need to respond to these dynamics and offer a wide variety of food, beverage and entertainment services to our members. We are continually reviewing members promotions to ensure they are attractive and competitive and today we know that our members are winning – with value for money and the exciting attractions that we offer. As I look back in the rearview mirror at the milestones our two clubs celebrated this year and our achievements along the journey to meeting the goals outlined back in 2008, my excitement grows for what the Wests Entertainment Group’s future holds in 2014 and beyond. Our sights are firmly set on continuing to build upon the momentum we’ve created with modern, state-of-theart facilities for our members, and we are glad to have you on board. I look forward to seeing you at the Annual General Meeting on Tuesday November 26.
Rod Laing Chief Executive Officer
I have continually stated that the Wests group is blessed to have team members who are dedicated and have the ‘spirit to serve’. From front of house to back of house and cleaning staff, thanks to them, we have had a very successful year. Once again I would like to express my appreciation to all members, who continue on a daily basis, to support our clubs. Today membership has reached a new milestone. 4 | WTLC Annual Report
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 2013. The 12-month period has resulted in the group recording a net profit after provisions and finance costs of $1,058,625. Shown right are graphs of our income and expenditure and our profits before provisions and finance costs. The group had $20,495,922 in income compared to $20,137,493 last year. This was an increase of $358,429 or 1.78%. Expenses in 2012/13 were $17,418,326, an increase of 2.79% on the previous year. The profit before provisions and finance costs for Wests and Wests’ Diggers combined was $3,077,596 compared to $3,192,751 last year. Wests made a profit of $2,539,266 before finance costs and provisions and Wests’ Diggers made a profit of $538,330.The net profit after all costs were deducted was $931,406 for Wests with Diggers making $127,219. It is with much pleasure that I announce another good consistent year for the group with some of the asset purchases during the year including a electronic sign in system, document management system, bar equipment, digital security cameras and a second members bus. The major project for the year has been the multi-level car park at Wests which was completed in January and will be finalised with the installation of a lift in December 2013. I will again be delivering a detailed financial report at our Annual General Meeting on Tuesday 26 November 2013. 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, Rod Laing no later than Monday 18 November 2013.
West Tamworth League Club
Expenses Cost of Goods Sold
Admin & Overhead Expenses Profit before provisions & finance costs
Maxwell Sharpe Treasurer
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Wests In The Community
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. Cougars Baseball Club Founded in 1984, the club will purchase uniforms and equipment for their players with the funding they received.
Rotary Club of Tamworth North – Youth Insearch Youth Insearch’s mission statement is to empower young
people to take control of their lives, by giving them the opportunity and skills to develop their self-esteem and play a positive role in society. The organisation coordinates weekend programs focused on resolving adolescent issues at a peer level for young people aged between 12-18 years. Funding will be used to assist young persons in Tamworth to take charge of their lives by paying for them to attend Youth Insearch camps.
Zonta Club of Tamworth The club makes breast cushions for women recovering from mastectomies at Tamworth Rural and Tamara hospitals. Previously the club made 60 to 100 cushions a year. With the new cancer treatment centre now open the expected need is for 300 to 600 cushions a year. Funding will be used to purchase material for the cushions.
Tamworth City Swimming Club Family oriented, Tamworth City Swimming Club caters for all levels of swimming from beginners to competitive swimmers. The funding the club received was used to replace equipment which was lost in a fire.
Photo taken at Manilla Heritage Museum
Manilla Born to Read Manilla Born to Read was established over 9 years ago to promote reading to children in local families. A book pack is given to each child in Manilla when they are born and again when they turn 3. Funding allowed author, Richard Tulloch (Bananas in Pyjamas) to attend the annual Manilla Reading Day and hold workshops with children from the local preschool, day care, playgroups and primary schools.
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Tamworth & West Tamworth Fire Brigades Funding was used for the 2012 Fire & Rescue NSW
Red Gum House Red Gum House, better
k n ow n a s R o n a ld McDonald House Tamworth is a home away from home for families of seriously ill children being treated at hospital, providing accommodation and r e s p i t e fo r t h e i r parents and carers. The House received funding to purchase iPad’s to stay in touch and for education & entertainment purposes as well as funding to replace the existing shade sail over the children’s play area.
State Firefighters Championships in October. Hosted by Tamworth & West Tamworth Fire Brigades, the Championships saw more than 200 firefighters compete in 16 events over three days.
Tamworth & District Umpires'’ & Scorers'’ Association The Association used the funding for the 2012/2013 cricket season.
Friends of Tamworth Marsupial Park Since 2009, a group of volunteers has been
developing and maintaining Tamworth Marsupial Park. One of the main aims of the park is to educate the community about the plants, animals and birds found in our region. Funding will be used to create a set of 30 signs around the park to provide high quality, accurate and up-to-date information about the animals, birds and plants that can be seen at the park.
Group 4 Rugby League Funding was used to run
the 2013 first grade, reserve grade, under 18s and under 16s competition.
Billabong Clubhouse Tamworth Billabong’s mission is to assist adults with a mental illness in developing the skills and confidence necessary to lead satisfying and productive lives in their community. Billabong keeps in touch with members through their service, Outreach. Outreach is a vital part of Billabong and funding allowed an upgrade of the phone and internet systems.
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Celebrating West Tamworth Rugby League Centenary anniversary 1913 - 2013
ll Club orth Footba West Tamw 1922
West Tamw or
Premiers 19 06
West Tamworth Lions 2008 Res
West 1956 Reserve Grade Major Premiers
Clayton Cup â€ƒ8 8| |WTLC WTLCAnnual AnnualReport Report
West Tamworth Leagues Club
08 orth Lions 20 West Tamw Grade
Minor and Major Premiers
West Tamw or
West Tamworth Rugby League
The West Tamworth Rugby League Football Club (WTRLFC) was formed in 1913 and played for only two years before the competition entry was abandoned. In 1919, the club was reformed and located in Taminda. The clubâ€™s first ground was in an area where a number of oil depots were situated, near the railway crossing. The club moved its headquarters to Grahamâ€™s Paddock, near the oval complex (alongside the Peel River), then to the grounds in Denison Street. WTRLFC owned the ground and erected a dressing shed. The 1936 memorial plaque that adorned this shed is today positioned on the exterior wall of Blazes Auditorium. During the Second World War, Scully Park in Phillip Street housed an army detention camp. At the end of the war, the camp was demolished and the grounds were available for lease. In 1957, founding member and inaugural President, Ken Chillingworth was a local member for the council and was able to secure the lease of the grounds for use by the WTRLFC. WTLC Report || 99 WTLC Annual Annual Report
orth Lions 20 West Tamw e Premiers First Grad
Events at your club
Tamworth Country Music Festival
Cancer Council`s Dancing with the Tamworth Stars
Mayworth Wests Entertainment Group Management
Eileen Smyth Deputy CEO
Wests’ Operations Facility Manager
Diggers’ Operations Facility Manager
Technical Services Manager
Graham Menzies Sandy Barnett Customer Services Catering Manager Manager
Leesa Peck Functions & Events Manager
Keith Clark Administrative
Chris Hardy Membership Manager
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Therese Brodbeck Human Resources Manager
Michelle Bullock Executive Assistant
TEAM MEMBER OF THE MONTH
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For the Year Ended 30 June 2013
Directors The names of the directors in office at any time during, or since the end of, the year are:
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, community support; and - 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 these 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. Performance Measures The company regularly measures its performance through budgetary control and individual KPIâ€™s placed on projects or areas of operations. Monthly the club benchmarks its performance including earnings before interest, tax, depreciation and amortisation (EBITDA) against other clubs through Club Data Online. Director Information Name
John McClelland President Anthony Hollis
27 years as Director Membership Committee, Compliance Committee Membership Committee, Compliance Committee, 10 years as Director Finance Committee Membership Committee, Finance Committee, 19 years as Director Sponsorship Committee
Vice President Training Advisor
Maxwell Sharpe Treasurer
15 years as Director Sponsorship Committee, Neighbourhood Committee
8 years as Director
8 years as Director
Sponsorship Committee, Sports Committee
3 years as Director
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Meetings of Directors During the financial year, 12 meetings of directors (including committees of directors) were held. Attendances by each director during the year were as follows: Sponsorship Committee Meetings
John McClelland Anthony Hollis Maxwell Sharpe Robert Both Alice Edmunds Dennis Gross Terry Psarakis
Membership Committee Meetings
Eligible to attend
Eligible to attend
Eligible to attend
12 12 12 12 12 12 12
11 11 11 12 9 11 9
12 12 12 -
10 11 11 -
12 12 12 -
10 9 11 -
The Neighbourhood, Compliance, Finance and Sports committees did not formally meeting during the year and any matters were resolved in the general directors meetings. 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 2013 the number of members was 20,683 (2012: 20,586). 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 13. 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 25 September 2013
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 2013 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 25 September 2013
92 Rusden St, Tamworth, NSW 2350 p +61 2 6763 0100 f +61 2 6766 8538 e email@example.com ABN 24 935 296 225
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Statement of Comprehensive Income For the Year Ended 30 June 2013 Note
Cost of sales
Gross profit Other income
Occupancy costs Administrative expenses Entertainment costs
Finance costs Profit before income tax Income tax expense
Profit for the year
Other comprehensive income Total profit and comprehensive income for year
Statement of Financial Position For the Year Ended 30 June 2013 Note
ASSETS Current assets Cash and cash equivalents
Trade and other receivables
Total current assets
Non-current assets Property, plant and equipment
Total non-current assets
LIABILITIES Current liabilities Trade and other payables
Borrowings & lease liabilities
Total current liabilities
Non-current liabilities Borrowings & lease liabilities
Total non-current liabilities TOTAL LIABILITIES NET ASSETS
The accompanying notes form part of these financial statements. WTLC Annual Report | 15
Statement of Changes in Equity For the Year Ended 30 June 2013 2013 Asset Realisation Reserve $
Retained Earnings $ Balance at 1 July 2012 Profit for the year Balance at 30 June 2013
2012 Asset Realisation Reserve $
Retained Earnings $ Balance at 1 July 2011 Profit for the year Balance at 30 June 2012
Statement of Cash Flows For the Year Ended 30 June 2013 Note
Cash from operating activities: Receipts from customers Payments to suppliers and employees Interest received Finance costs
Payment to acquire property, plant and equipment
Net cash provided by (used in) investing activities
Net cash provided by (used in) operating activities
Cash flows from investing activities: Proceeds from sale of plant and equipment
Cash flows from financing activities: Proceeds from borrowings
Repayment of borrowings
Net increase (decreases) in cash held
Cash at beginning of financial year
Payment of finance lease liabilities Net cash provided by (used in) financing activities
Cash at end of financial year
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Notes to the Financial Statements
For the Year Ended 30 June 2013
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 these financial statements are presented below. They have been consistently applied unless otherwise stated. The financial statements have been prepared on an accruals basis and are 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 thecustomers. 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 Profit or Loss and Other Comprehensive Income in the 2012 financial year. In the 2013 financial year and 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 Profit or Loss and Other 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.
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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.
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 not-for-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.
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 statements 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. Poker machine entitlements are considered to have an indefinite life and as a result entitlements 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. Software is considered to have 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 Profit or Loss and Other 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 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. 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.
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.
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. 18 | WTLC Annual Report
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.
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.
Revenue 2013 $ 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
2,929,742 3,200,345 401,956 12,011,115 106,081 525,263 410,001 166,785 539,371 160,188 20,450,847 2013 $
2012 $ 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
60,662 153,916 89,040 303,618
3. Profit for the Year 2013 $
Expenses Interest paid to bank Cost of Sales Depreciation and Amortisation
57,820 5,091,348 1,517,836
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11,887 4,977,769 1,324,177
4. Income tax expense The prima facie tax on profit from ordinary activities before income tax is reconciled to the income tax as follows: 2013 2012 $ $ Prima facie tax payable on profit from ordinary 317,587 409,278 activities before income tax at 30% (2012: 30%) Add: Tax effect of: - Principal of Mutuality adjustment and permanent differences (407,218) (524,677) - Adjustment for unrecognised losses 89,631 115,399 Income tax attributable to entity The company has unrealised tax losses of $804,052 (2012: $714,421) 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.
5. 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 2012 Total compensation
6. Auditors’ Remuneration 2013 $ Remuneration of the auditor of the company for: - Auditing or reviewing the financial report - Taxation services
36,755 11,831 48,586
41,250 12,400 53,650
Cash on hand Cash at bank
2013 $ 688,567 641,105
2012 $ 456,492 135,164
Short-term bank deposits
7. Cash and cash equivalents
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: 2013 2012 $ $ Cash and cash equivalents 1,988,463 2,219,575 1,988,463 2,219,575
8. Trade and other receivables 2013 $ CURRENT Trade receivables
2013 $ 31,213 8,019 424 56,482 96,138
2012 $ 32,952 5,469 4,313 3,160 45,894
a. 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 2013 or 2012.
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9. Inventories 2013 $ CURRENT At Cost Finished goods
10. Other Assets 2013 $ CURRENT Prepayments
11. Property, plant and equipment 2013 $ 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
21,612,805 (1,519,198) 20,093,607 21,093,607
19,234,493 83,930 (1,305,983) 18,012,440 19,012,440
12,831,073 (9,141,468) 3,689,605
12,513,910 (8,516,252) 3,997,658
184,206 (129,071) 55,135
202,620 (78,967) 123,653
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 18,012,440 3,997,658 123,653 122,770 23,256,521 Additions 2,294,382 839,043 3,133,425 Disposals - written down value (74,004) (74,004) Correction of costs (18,414) (18,414) Depreciation expense (213,215) (1,073,092) (50,104) (1,336,411) Carrying amount at the end of year 1,000,000 20,093,607 3,689,605 55,135 122,770 24,961,117
WTLC Annual Report | 21
12. Intangible assets
Computer software, other cost Accumulated amortisation and impairment Net carrying value Poker Machines Entitlements cost Total Intangibles
$ 727,717 (209,335) 518,382
$ 727,717 (27,910) 699,807
13. Trade and other payables
CURRENT Unsecured liabilities Trade payables Amounts received in advance Other payables Revenue in Advance
949,481 153,476 411,488 79,886 1,594,331
983,830 131,987 411,646 97,985 1,625,448
CURRENT Secured liabilities Finance lease obligations
NON-CURRENT Secured liabilities Finance lease obligations Bank loans a.
208,495 781,352 989,847
Total current and non-current secured liabilities
Bank loans Finance lease obligations b.
781,352 682,106 1,463,458
The carrying amounts of non-current assets pledged as security are: 2013 $ 21,093,607 21,093,607
First mortgage over freehold land and buildings
15. Employee Benefits
CURRENT Provision for long service leave Annual leave entitlements
$ 19,012,440 19,012,440
586,542 586,542 1,286,484
556,496 727,715 1,284,211
Asset Revaluation Reserve The asset revaluation reserve records historical revaluations of non current assets. When the Company adopted revised Accounting Standards it chose to treat previously revalued land and buildings as being deemed cost and has not performed any subsequent revaluations.
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17. Capital and Leasing Commitments Finance Lease Commitments
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
535,147 258,812 793,959 (111,853) 682,106
581,647 696,264 1,277,911 (129,023) 1,148,888
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 Capital expenditure commitments 2013
Capital expenditure commitments contracted for: Multi Level Car Park Payable: - no later than 1 year
18. Financial instruments 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 2013. The Company’s main financial risks relate to credit, liquidity and interest rates discussed below..
a. 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 - Past due
93.5% 6.5 %
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.
b. Interest Rate Risk Financial instrument composition and maturity analysis The Company’s exposure to interest rate risk, which is the risk that a financial instruments value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on classes of financial assets and financial liabilities, is as follows: Weighted Average Effective Interest Rate
Floating Interest Rate
Financial Assets: Cash & cash equivalents Receivables Total Financial Assets
688,567 96,138 784,705
456,492 45,894 502,386
1,988,4635 96,138 2,084,60
2,219,575 45,894 2,265,469
Financial Liabilities: Bank Loan Trade & sundry payables Finance lease liabilities Total Financial Liabilities
1,594,331 682,106 2,276,437
1,625,448 1,148,888 2,774,336
781,352 1,594,331 682,106 3,057,789
1,625,448 1,148,888 2,774,336
WTLC Annual Report | 23
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.
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.
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..
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 2013 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 Correction of error 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. Non-cash financing and investing activities Acquisition of plant and equipment by means of finance leases:
1,517,836 (3,321) 46,000 18,413
1,324,177 17,335 (153,916) -
(50,243) (15,059) 13,011 (31,116) 2,273 2,556,418
29,565 (29,081) 8,638 308,015 172,446 3,041,437
2013 $ 63,152 63,152
Computer equipment and plant and equipment Computer software
2012 $ 567,718 727,717 1,295,435
The above assets were acquired through finance lease arrangements.
c. Credit Standby Arrangement and Loan Facilities The Company has unused bank lending facilities amounting to $ 2,100,000. Interest rates are variable.
21. Contingent Liabilities and Contingent Assets In the opinion of the Directors, the Company did not have any contingencies at 30 June 2013 (30 June 2012:None).
22. Events after the end of the Reporting Period The financial report was authorised for issue on 25 September 2013 by the Board of Directors. No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years.
23. 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.
24. 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 DP1142453, 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 2013 or 2012.
24 | WTLC Annual Report
25. 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
Wests Diggers 4 Kable Avenue Tamworth NSW 2340
DIRECTORS DECLARATION The directors of the Company declare that: 1. The financial statements and notes, as set out on pages 12 to 26, 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 2013 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 25 September 2013
WTLC Annual Report | 25
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 2013, the statement of profit or loss and other 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. In Note 1, the directors also state, in accordance with Accounting Standard AASB 101 Presentation of Financial Statements, that the financial statements comply with International Financial Reporting Standards. 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: (a) the financial statements of West Tamworth League Club Limited are in accordance with the Corporations Act 2001, including: (i) giving a true and fair view of the company’s financial position as at 30 June 2013 and of its performance for the year ended on that date; and (ii) complying with Australian Accounting Standards and the Corporations Regulations 2001; and (b) the financial statements also complies with International Financial Reporting Standards as disclosed in Note 1.
Paul Cornall Partner, Forsyths 127 Marius Street, Tamworth, NSW 2340 25 September 2013
26 | WTLC Annual Report
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 on Tuesday 26 November 2013 commencing at 6.30pm at the premises of the Club, 58 Phillip Street, West Tamworth NSW. 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. PROCEDURAL MATTERS 1. Only FULL FEE, PENSIONER, TAMWORTH RSL, HONORARY LIFE and GOLD LIFE MEMBERS are eligible to attend and vote. 2. Under the Registered Clubs Act: a. members who are employees of the Club are not entitled to vote; and b. proxy voting is prohibited. 3. To be passed the ORDINARY RESOLUTION requires votes from a simple majority of members who being eligible to do so vote in person on the Ordinary Resolution at the meeting. 4. To be passed the SPECIAL RESOLUTION must receive votes in its favour from not less than three quarters (75%) of those members who being eligible to do so vote in person on the Special Resolution at the meeting. 5. The SPECIAL RESOLUTION should be read in conjunction with the notes to members which follow the Special Resolution. 6. Amendments to the SPECIAL RESOLUTION (other than minor typographical corrections which do not change the substance or effect of the Special Resolution) will not be permitted from the floor of the meeting. 7. The Board of the Club recommends the SPECIAL RESOLUTION to members.
BUSINESS: 1. APOLOGIES. 2. CONFIRMATION of the Minutes of the previous Annual General Meeting held Tuesday 27 November 2012. 3. REPORTS: To lay the Financial Report, Directors’ Report and Auditor’s Report for the year ended 30 June 2013 before the meeting. 4. ORDINARY RESOLUTION: 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 2014 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. SPECIAL RESOLUTION: That the Constitution of West Tamworth League Club Limited be amended by:
(a) Inserting the following new definitions into Rule 2(a):
“Gaming Machines Act” means the Gaming Machines Act 2001 and any regulation made under the Gaming Machines Act 2001. Any reference to a provision of the Gaming Machines Act includes a reference to the same or similar provision in any legislation replacing, amending or modifying the Gaming Machines Act however that provision may be amended in that legislation.
“Liquor Act” means the Liquor Act 2007 and any regulation made under the Liquor Act 2007. Any reference to a provision of the Liquor Act includes a reference to the same or similar provision in any legislation replacing, amending or modifying the Liquor Act however that provision may be amended in that legislation.
“Registered Clubs Act” means the Registered Clubs Act 1976 and any regulation made under the Registered Clubs Act 1976. Any reference to a provision of the Registered Clubs Act includes a reference to the same or similar provision in any legislation replacing, amending or modifying the Registered Clubs Act however that provision may be amended in that legislation”.
(b) deleting from Rule 3(f) the words “subject to the limitation in section 41J of the Registered Clubs Act” and in lieu thereof inserting the words “subject to the requirements of the Liquor Act and the Registered Clubs Act”. (c) deleting from Rule 3(j) the words “Certificate of Registration under the Registered Clubs Act” and in lieu thereof inserting the words “Club Licence under the Liquor Act”. WTLC Annual Report | 27
(d) deleting from Rule 13(c) the words “Certificate of Registration under Part II of the Registered Clubs Act” and in lieu thereof inserting the words “Club Licence under the Liquor Act”.
(e) deleting from Rule 13(c) the words “such a certificate” and in lieu thereof inserting the words “such a licence”.
(f) deleting Rules 30(b) and (c), inserting the following new Rules 30(b), (c) and (d) and renumbering the remaining provision of Rule 30 accordingly:
Honorary members who are full members of the Club (as defined in the Registered Clubs Act) shall be entitled to the rights and privileges of the category of membership of which they are a full member.
Honorary members who are not full members of the Club (as defined in the Registered Clubs Act) are entitled to:
(ii) introduce guests to the Club.
Honorary members who are not full members of the Club (as defined in the Registered Clubs Act) shall not be entitled to:
such social privileges and advantages of the Club as the Board may determine from time to time; and
(ii) nominate for or be elected to hold office on the Board;
(iii) vote in the election of the Board;
(iv) propose, second, or nominate any eligible member for any office of the Club;
(v) propose, second or nominate any eligible member for Honorary Life membership”.
attend and vote at any meeting of the Club; or
(g) inserting the following new Rule 40A:
Notwithstanding any Rule contained in this Constitution, any member who is not a financial member (as defined in Rule 2(b)) shall not be entitled to:
(a) attend at the premises or use any of the facilities of the Club for any purpose without the permission of the Board; or
(b) participate in any of the recreational, social or sporting activities of the Club or any Sporting sub club without the permission of the Board;
(c) attend or vote at any meeting of the Club or any Sporting sub club;
(d) nominate or be elected or appointed to the Board or any committee of a Sporting sub club;
(e) vote in the election of the Board or any committee of a Sporting sub club;
(f) propose, second or nominate any eligible member for any office of the Club or any Sporting sub club;
(g) propose, second or nominate any eligible member for Honorary Life membership”.
(h) deleting Rule 44 and in lieu thereof inserting the following new Rule 44:
44. (a) In addition to any powers under section 77 of the Liquor Act, the Secretary or (subject to paragraph (e) of this Rule 44) an employee of the Club may refuse to admit to the Club and may turn out, or cause to be turned out, of the premises of the Club any person including any member:
(i) who is then intoxicated, violent, quarrelsome or disorderly; or
(ii) who, for the purposes of prostitution, engages or uses any part of the premises of the Club;
(iii) whose presence on the premises of the Club renders the Club or the Secretary liable to a penalty under the Registered Clubs Act or the Liquor Act;
(iv) who hawks, peddles or sells any goods on the premises of the Club;
(v) who, within the meaning of the Smoke-free Environment Act, smokes while on any part of the premises that is smoke-free;
(vi) who uses, or has in his or her possession, while on the premises of the Club any substance that the Secretary suspects of being a prohibited drug or prohibited plant; (vii) whom the Club, under the conditions of its club licence, or a term of a liquor accord, is authorised or required to refuse access to the Club. (b)
If pursuant to Rule 44(a) a person (including a member) has been refused admission to, or has been turned out of the premises of the Club, the Secretary of the Club or (subject to paragraph (e) of this Rule 44) an employee of the Club, may at any subsequent time, refuse to admit that person into the premises of the Club or may turn the person out, or cause the person to be turned out of the premises of the Club.
(c) Without limiting Rule 44(b), if a person has been refused admission to or turned out of the Club in accordance with Rule 44(a)(i), the person must not re-enter or attempt to re-enter the Club within twenty four (24) hours of being refused admission or being turned out. (d) Without limiting Rule 44(b), if a person has been refused admission to or turned out of the Club in accordance with Rule 44(a)(i), the person must not:
(i) remain in the vicinity of the Club; or
(ii) re-enter the vicinity of the Club within six (6) hours of being refused admission or being turned out. 28 | WTLC Annual Report
(e) Without limiting the provisions of section 77 of the Liquor Act the employees who under this Constitution are entitled to exercise the powers set out in this Rule shall be:
in the absence of the Secretary from the premises of the Club the senior employee then on duty; or
(ii) any employee authorised by the Secretary to exercise such power”.
(i) deleting from Rule 47 the words “or to the Club’s staff or servants or persons under contract to the Club.”
(j) deleting Rules 48(i) to (vii) inclusive and in lieu thereof inserting the following new Rules 48(i) to (vii) inclusive:
“(i) attend at the premises or use any of the facilities of the Club for any purpose without the permission of the Board; or
(ii) participate in any of the recreational, social or sporting activities of the Club or any Sporting sub club without the permission of the Board;
(iii) attend or vote at any meeting of the Club or any Sporting sub club;
(iv) nominate or be elected or appointed to the Board or any committee of a Sporting sub club;
(v) vote in the election of the Board or any committee of a Sporting sub club;
(vi) propose, second or nominate any eligible member for any office of the Club or any Sporting sub club;
(vii) propose, second or nominate any eligible member for Honorary Life membership”.
(k) deleting from Rule 50(a) the words “excluding Honorary members.”
(l) inserting into Rule 50(b) the words “and the date on which the entry of the guest’s name is made in the register”.
(m) deleting Rule 52 and in lieu thereof inserting the following new Rule 52:
“52 For the purposes of Rule 51(c), “responsible adult” means an adult who is:
(a) a parent, step-parent or guardian of the minor; or
(b) the minor’s spouse or de facto partner; or
(c) for the time being, standing in as the parent of the minor”.
(n) deleting Rule 55 and in lieu thereof inserting the following new Rules 55 and 55A:
“55. A member who is:
(a) an employee of the Club; or
(b) currently under suspension pursuant to Rule 43;
(c) not a financial member,
shall not be eligible to stand for or be elected or appointed to the Board.
55A. In accordance with section 73(1)(m) of the Registered Clubs Act, any person who is elected or appointed to the Board must, unless exempted, complete such mandatory training requirements for directors within the period prescribed by the Registered Clubs Act”. (o) deleting from Rule 59(j) the words “shall not be exercised until the requirements of section 41J of the Registered Clubs Act have been satisfied” and in lieu thereof inserting the words “shall be subject to the requirements of the Liquor Act and the Registered Clubs Act”.
(p) deleting from Rule 64 the word “personally”.
(q) deleting Rules 77(a) and (b) and in lieu thereof inserting the following new Rules 77(a) and (b):
“(a) if the person is disqualified for any reason referred to in Section 206B of the Act;
(b) if, for the purposes of Rule 55A, the person fails to complete the mandatory training requirements for directors referred to in Rule 55A within the prescribed period referred to in Rule 55A (unless exempted)”. (r) deleting from Rule 77(f) the words “made under the Act or is disqualified from holding office as a director pursuant to an order or declaration made under the Registered Clubs Act” and in lieu thereof inserting the words “or declaration made under the Act, Registered Clubs Act, or the Liquor Act”.
(s) deleting from Rules 80(b)(ii) and 85(a)(ii) the numeral “30” and in lieu thereof inserting the numeral “100”.
(t) deleting from Rule 106 the numeral “82A” and in lieu thereof inserting the numeral “9”.
6. DECLARATION OF DIRECTORS. 7. ELECTION OF OFFICE BEARERS. 8. GENERAL BUSINESS (of which due notice has been given) that may be brought before the meeting in accordance with the rules of the Club. WTLC Annual Report | 29
NOTES TO MEMBERS ON THE SPECIAL RESOLUTION 1. Paragraph (a) inserts appropriate definitions of the Gaming Machines Act, Liquor Act and Registered Clubs Act. 2. Paragraphs (b) and (o) clarify that the Board’s power to dispose of Club property is subject to the requirements of the Liquor Act and the Registered Clubs Act. 3. Paragraphs (c) to (e) inclusive delete references to the Certificate of Registration previously held by the Club and inserts references to the Club Licence, which is now held by the Club. 4. Paragraph (f) amends provisions relating to the rights of Honorary members to clarify that: (a) Honorary members who are already members of the Club are entitled to the rights and privileges of the category of membership of which they are a member; and (b) Honorary members who are not members of the Club are only entitled to the social privileges and advantages of the Club as determined by the Board and to introduce guests into the Club. This is consistent with the Registered Clubs Act. 5. Paragraphs (g) and (j) insert new provisions to clarify the rights and entitlements that non-financial members and members under suspension are not entitled to. If a member is non-financial or under suspension, they cease to be entitled to all of the rights and privileges of membership which includes all the rights and privileges of membership of any Sporting sub club of the Club. 6. Paragraph (h) amends existing provisions relating to the removal of persons from the premises of the Club to bring the Constitution into line with the Liquor Act. 7. Paragraph (i) deletes inappropriate references to the Club’s employees and contractors. 8. Paragraphs (k) and (l) amend existing provisions regarding guests to bring the Constitution into line with the Registered Clubs Act. 9. Paragraph (m) amends the definition of “responsible adult” to reflect the new definition contained in the Registered Clubs Act. 10. Paragraph (n) clarifies that employees of the Club, members under suspension and non-financial members are not eligible to stand for or be elected or appointed to the Board. This paragraph also inserts a new provision requiring persons who are elected or appointed to the Board to undertake the mandatory training requirements for directors as prescribed by the Registered Clubs Act (unless they are exempted from doing so). 11. Paragraph (p) amends an existing provision relating to the quorum for a Board meeting. Currently, the quorum for a Board meeting is the majority of directors personally present. However, the Corporations Act and the Club’s Constitution permit Board meetings to be held using technology. Having regard to this, this paragraph will allow directors to attend Board meetings by technological means if they cannot physically attend for any reason and form part of the quorum for that meeting. 12. Paragraphs (q) and (r) amend provisions relating to vacancies on the Board to bring the Constitution into line with the Corporations Act, Liquor Act and Registered Clubs Act. 13. Paragraph (s) proposes to amend a provision in the Constitution to bring it into line with the Corporations Act. The Club’s Constitution permits thirty (30) members to requisition a general meeting of the Club whereas the Corporations Act permits one hundred (100) members to requisition a general meeting of the Club. Given the size of the Club and the costs (in time and money) involved in calling a general meeting, it is not appropriate that thirty (30) members may call a general meeting of the Club and it is more appropriate for the Club’s Constitution to reflect the requirement of one hundred (100) members as contained in the Corporations Act. 14. Paragraph (t) amends a cross-reference to a definition contained in the Corporations Act.
DATED: 30 August 2013 BY Direction of the Board
Rod Laing Chief Executive Officer – Company Secretary
30 | WTLC Annual Report
WTLC Annual Report | 31
Kable Ave, Tamworth NSW 2340 Ph: 02 6766 4661 Fax: 02 6766 4419 Email: firstname.lastname@example.org www.wtlc.com.au
If not claimed within 7 days please return to PO Box 3040 West Tamworth NSW 2340
Phillip St, West Tamworth NSW 2340 Ph: 02 6765 7588 Fax: 02 6765 1508 Email: email@example.com www.wtlc.com.au
â€ƒ 32 | WTLC Annual Report