AISL Annual Report 2010-11

report

annual Michael Diamond wins Gold at the ISSF World Cup Shotgun Final at Al Ain, UAE in October 2011

2010-2011

AustrAliAn internAtionAl shooting limited

Medal Performances 2006-11

2006 2007

2008

2009

2010 2011

Warren Potent

0

3 (2G)

5 (2G 3B)

4 (3G 1B)

1 (1G)

Michael Diamond

0

1 (G)

3 (2G 1S)

2 (1G 1S)

Adam Vella

0

2 (2S)

0

0

1 (1G)

Russell Mark

0

0

0

0

1 (1S)

Lalita Yauhleuskaya 1 (G)

0

3 (2S 1B)

3 (1S 2B)

2 (2S)

Dina Aspandiyarova

0

0

0

1 (1S)

Ashley Adams

4 (1G 1S 2B) 1 (1S)

2 (2S)

3 (1G 2S)

Libby Kosmala

3 (1G 2B)

2 (1S 1B)

2 (1G 1B)

3 (3S)

Jason Maroney

2 (1S 1B) 1 (1B)

1 (1B)

4 (2S 2B)

1 (1G)

2 (1G 1B)

2 (1G 1S)

2 (2B)

Bradley Mark

4 (3S 1B)

Luke Cain

1 (1S)

Natalie Smith

2 (1G 1B)

Darren Nicholson

1 (1S)

T

he countdown to an Olympic and Paralympic Games is an exciting time for Australians. As London 2012 looms on our horizon there is much work to be done to fine tune our preparations.

The Australian Government and the Australian Sports Commission (ASC) continue to work closely with Olympic and Paralympic sports, along with the Australian Olympic and Paralympic Committees to ensure our athletes get the best possible support. Through the Green and Gold project, $3.85 million in extra funding has been provided for our top Olympic athletes and teams to boost their training and preparations for London 2012.

A true sign that Australian sport is united in working together is the endorsement from the Commonwealth, State and Territory Governments of the National Sport and Active Recreation Policy Framework. What this means is that for the first time all governments have agreed on priorities for sport.

Underpinning the Framework is the new National Institutes System Intergovernmental Agreement which unites our National Institutes of Sport and national sporting organisations to work hand-in-hand to achieve common national high performance objectives to maximise resourcing and expertise in support of the development of world class athletes to achieve international success.

This Framework is supported by significant additional investment in sport by the Australian Government. The 2011-12 Budget will provide $300 million to support the full spectrum of sport from grass roots through to elite competition.

Support by the Australian Government will enable a more collaborative long term focus to drive reform within Australian sport and importantly make the connection between Australian’s standing on the podium and young Australians participating in sport.

This is an exciting and challenging time for Australian sport. The Australian Sports Commission looks forward to working with all sporting organisations, the state and territory institutes and academies of sport and state and territory departments of sport and recreation, to promote access to, and participation in, sport across the community and support Australia’s continued sporting success.

The Hon. Warwick Smith AM Chairman

Board of the Australian Sports Commission

“This is an exciting and

challenging time for Australian sport.”

AISL ANNUAL REPORT 2010/11

President’s Report 3 CEO’s Report 4-5 Hi-Performance Report 8-13 Coaches Committee Report 14-15 Financials 16-29 Marsh 30-31 Notes 32

Cover Image: Marco Dalla Dea, ISSF

W

elcome to the sixth Annual Report of Australian International Shooting Limited.

As always the reporting year was very busy for all involved with AISL, with the number of international events that we had to arrange for our athletes to attend, as well as the planning for London 2012. This past year has not been any easier for our organisation to ensure the safety of our athletes on the world shooting stage. The Board continues to be committed to good governance principles. We have a robust set of general policies and team selection policy that will ensure our future compliance with those principles.

The Strategic Plan is due for review and renewal, which will require input from our stakeholders.

We cannot hold an Annual General Meeting without recognising the contribution that is made to the running of AISL events by our volunteers. They are a small but enthusiastic and incredibly dedicated group, and we are grateful for their continued assistance.

The Australian Sports Commission continues to be our principal sponsor and we thank them sincerely for their support. We have continued to enjoy a very good relationship with the Australian Olympic Committee and the Australian Commonwealth Games Association. The Association could not operate without the continued support of the ASC, the AOC and the ACGA. Nick Sullivan has continued to form excellent working relationships with those organisations. We are fortunate to have Nick’s networking skills. This reporting year has seen some excellent performances from our experienced shooters, but probably more significantly from our up and coming athletes.

President’s Report

he has achieved with a small budget. Belinda took maternity leave this year and we were fortunate to have Bianca return for a period of time. Fadia joined us and quickly became an integral part of the organisation. Pauline continued to undertake the accounts administrator role, and, together with the coaches and support staff, assisted Nick throughout the year.

Their enthusiasm, professionalism and support for AISL never waivers and we are extremely lucky to have such a dedicated staff group. Director Glenn O’Brien stood down earlier in the reporting year for personal reasons. The Board has missed Glenn’s reasoned debate on all shooting matters and his obvious business skills.

The Directors, Sharon Reynolds, Susannah Smith, Bob Marshall and I are pleased to present the Annual Report to the meeting.

Some of our younger athletes are proving to be exciting to watch in their chosen discipline. I believe this augers well for our future success internationally.

Our athletes continue to cooperate effectively and with little complaint with the Australian Sports Antidoping Agency.

The Agency continues to support us as a group and that support is appreciated by all concerned.

Our Board meetings this year were a mixture of face to face and teleconference. The teleconference concept has proven to be a real boon, as not only is it an excellent way to conduct a meeting, but also relieves some of the financial pressure of getting Board members from all over Australia to a central point. As a Board we are always conscious of the effect of face to face meetings on our finances. The Board has made their decisions throughout the year taking account of the needs of all disciplines. I thank the Board for their input and reasoned debate on all matters.

Our CEO Nick Sullivan has conducted the business of the organisation in a professional manner and the Board congratulates him on the excellent result

Cheryl Arnol President

Australian International Shooting Limited

CEO’s Report T

he focus of the 2010-11 year revolved around the Olympic Quotas and the Commonwealth Games.

A strong emphasis has been placed on the next generation of athletes as we work towards Glasgow 2014, Commonwealth Games and Rio 2016 Olympic Games, in keeping with the established Long Term Athlete Development (LTAD) timescales. As will be seen elsewhere in the annual report, steady progress across the disciplines is visible. In line with most other sports in Australia the major hurdle is lack of strong, regular competition, and to this end, we continue to generate local competition to assist.

The office has conducted 22 competitions since July 2010 across the three disciplines, which have been generally well supported. On a calendar year basis the following competitions are conducted: • 8 Australian Cups (4 Shotgun, 4 Rifle & Pistol) • 2 Australian cup Finals (1 Shotgun (new), 1 Rifle & Pistol) • AISL International Grand Prix – all ISSF events • Youth Nationals

• provide an online management system for competitions and other areas, • develop and maintain a backoffice system to handle scoring and ranking records; and • provide other office type duties.

Apart from the website and social media, this group has released three newsletters to date with a fourth due in December, and a scheduled six for 2012. They will also provide on time reports following meetings of board and committees and other statutory bodies.

Following my report are some graphs covering various aspects of the financial and performance levels of the year.

I take this opportunity to thank the following for their support of our sport: • Australian Sports Commission • Australian Olympic Committee • Australian Commonwealth Games Association • Australian Paralympic Committee • The SIS/SAS network • The volunteers, whose time input, is immeasurable in monetary measures.

Finally, I would like to thank the board members for their time, which they give freely for the sake of the sport and the counsel they provide. To the AISL staff, who provide clerical support and to the coaches, my thanks for your tremendous work and support.

The workload in the office was as high, as expected, this being brought about by the organising of teams for the ISSF and IPC World cups, the Commonwealth Games, ISSF World Championships, and the 1st Youth Olympic Games. This, of course, is without mentioning the monthly training camps and training sessions conducted by the National Coaches. Currently we are planning the 2012 - 2013 years, which will see similar levels of competition, as we prepare for the Commonwealth Games and the World Championships in 2014. The audited financial statement is included in this annual report.

We continue to receive minor flows of income from various projects, which include: • SIUS Electronic Target Systems • a partnership with Marsh Insurance We continue to seek partnerships with other agencies However the successful outcome of these ventures relies heavily on goodwill and support.

To assist in this area we established a digital media group to: • promote the sport within all our stakeholders, • develop a high quality library of film and still images of our elite athletes, • provide a feeder program to the media at large through media partner ‘contentgroup’ • manage the website, facebook and other social media resources,

Nick Sullivan

CEO

Australian International Shooting Limited

CEO’s Report

Income

Grants Grants 2,438,129.82 Sydney World Cup 1,138,621.14 Competion/Camp Proceeds 178,868.40

ASC 2,179,891.35

Other Income 173,649.60

APC 248,187.5

Trading/Operating 143,269.45

QAIS Grants (2 athls) 16,000.00

Reimbursables 55,980.77

AOC 10,050.97

Affiliation Fees 49,855.88 Managed Athlete Grants 16,000.00 Uniforms 2,420.77

Total 2,454,129.82

Total 4,196,795.83 Int'l Comps 2,065,500.69 Payroll 690,246.36

Expenses

Local Camps 136,315.19 Local Comps 107,524.07

Break up of ASC Grants

Advertising & Promotion 103,808.99

HP Grant 1,349,800.00

Meeting Expenses 82,908.06

Additional HP Funding 400,000.00

Affiliate Support 80,000.00

Green & Gold 200,000.00 Office 69,735.20 NTID 110,000.00

Telephone, Fax, Internet,sundry 69,511.81

Sport Dev 76,200.00

Int'l Camps 40,338.66 Consultancy Fees 29,467.42

WIS Media 28,000.00

Membership Fees Paid 19,835.63

Sport Connect Transition 15,000.00

Insurance 14,301.01

Elite Indigenous -Sport Clay 891.35

Training 12,942.23 Legal Fees 12,222.71 Employment Support Costs 10,336.00

Total 3,616,051.32

Additional 71,057.29

Total 2,179,891.35

AISL ANNUAL REPORT 2010/11

5

Highlights from ISSF World Cup,

Sydney 21 March - 1 April, 2011

Hi-Performance Report Overview of HP

The following chart shows the score required to gain a place on a team prior to 2006 against those required by the USA Team and the post 2006 Australian Performance Qualification Score (PQS) requirement. The scores from the last world championship (BME) are included for comparison.

Since the introduction of the higher PQS the number of athletes reaching these scores have increased as per the table below:

MEN Possible USA AUS Pre AUS World

score Qualify 2006 QS PQS Post Champs

Score Sep 2006 Win Score

2006 2010-2011 Skeet: 125 123 119 121 125 Trap: 125 121 118 121 123 Double Trap: 150 141 134 140 147 Number Total 50m 3P Rifle 1200 1174 1155 1166 1178 achieving PQS 50m Rifle Prone: 600 597 595 595 599 PQS achieved 10m Air Rifle: 600 597 590 595 599 10m Air Pistol: 600 586 582 582 590 2006 1 Rifle 3 50m Pistol: 600 566 560 561 562 2011 6 Rifle 21 25m RF Pistol: 600 580 576 580 587

2006 4 Shotgun 4 WOMEN 2011 15 Shotgun 31 50m 3P Rifle 600 585 573 580 589

10m Air Rifle: 400 398 393 396 400 2006 2 Pistol 3 10m Air Pistol: 400 386 383 383 386 2011 4 Pistol 15 25m Pistol: 600 587 582 582 588 Skeet: 75 71 68 70 74 Trap: 75 70 67 69 73 Four of these will make the 2012 Games at the current rate. Of this squad, 6 Pistol, 14 Rifle and 12 Shotgun athletes are in the top Ten Australian Rankings in their respective disciplines.

We currently have 3 Able bodied athletes in the IF (ISSF) top ten list; viz., Lalita Yauhleuskaya (3) in 10m Air Pistol Women, Michael Diamond (4) in Trap Men and Catherine Skinner (8) in Trap Women.

In the Disability sector our reckoning on true rankings would have Australia with 4 in the top Ten also; viz., Ashley Adams, Jason Maroney, Bradley Mark and Libby Kosmala.

8

Finals cut-off score 123 122+4+6 145+36 1172 598 596 582 562 581

581 397 383 583 72+4 72+3

The focus 2016 squad make up

Discipline Athletes 2006 Rifle 2 2011 Rifle 8

2006 Shotgun 4 2011 Shotgun 10

2006 Pistol 3 2011 Pistol 7

Hi-Performance Report

2012 -2016

(Medals by Discipline)

As indicated previously the change in the awarding of Quota Places to the year prior the Games and the Full World Championship has seen a significant change in the level of competition with the resultant increase in qualification score level. The most significant increase occurred in the shotgun competitions, and as such, we were outgunned so to speak.

2010-2011 (34)

12

Medal count was down in 2010 due to the top twenty in the world turning up to every competition as countries sought the Quota places on offer.

The reliance on Australia’s older competitors was tested and at this stage the majority of the Focus 2016 squad are not ready for the take up, albeit performances are fast catching the senior group with some notable performances across all three Olympic disciplines. The middle group, which is between the top two in each and the focus 2016 shooters have failed to demonstrate any significant improvement over the past years.

Australia will field a team of 16-17 competitors in the Olympics with 3 medal chances and at the Paralympics we will field 4-5 athletes with 4 of those capable of medals.

15

67

There is sufficient data to show that the PQS needs to be raised in some events, and this will be discussed at the next HP meeting.

PPP

6

Rifle

Pistol

Shotgun

2006-2011 (76)

15 18

51 16

2016 Rio athletes will come from the Focus squad.

AISL ANNUAL REPORT 2010/11

9

Hi-Performance Report November 2011 Report

In presenting this report, it is worth remembering that AISL is primarily focussed on High Performance, and is indeed funded to that end. The Australian Sports Commission being the primary sponsor and funding agency.

The Strategic Plan (2008-2011) covered four areas of major importance; viz.: Sustainable High Performance Outcomes, Promotion and Image management, Develop Funding and Resources and Governance. As an overview and update, the following table shows where we are in relation to each of those Strategies.

performance 1High

KRA

KRA

KRA

Comment

Review and revise athlete pathways

Joint Management HPP Committee agree basis of Structure

Published

Increase in Focus 2016 squad from 11 to 25

Driven by AISL Coaches

Develop HP Coaching Structure

Implemented National coach.

Reviewed & removed position which needs further development and resourcing

Pre elite Coordinator position established and filled by ESCG recipient who has since gained ISSF C, B and UQ cert. ISSF A to be completed 2012

Coaching Committee established and chaired by Pre-elite coordinator

Inaugural Coaching Conference held; 85 attendees over 2 days

Manage and Implement NCAS & NOAS accreditation

Single database achieved

Coaches reviewed and updated in line with correspondence detailing the changes.

Having established a starting point the Input of data is to be handed back to NF/ States Jan 2012

Advanced Level Course (old level 3).

From my point of view, this process seems cumbersome from start to go

Effective TID from Non-traditional sources

10

Ambitious project KPI’s unrealistic ablebod numbers with insufficient resources

Good results in the disability sector

Has been reviewed on two occasions and is now back on track to be completed late January 2012.

Hi-Performance Report

and Image 2Promotion

KRA

KRA

KRA

Comment

Develop processes and resources to maximise media opportunities

Appointment of external web management and publishing

Engagement of professional media group to handle stakeholder and media coverage.

Social media well established with measured results.

Greater awareness by stakeholders through this and increased press activities through all media forms.

Analytics and media monitoring established to measure integrity.

Facebook page, active You Tube Channel, Dartfish TV under way,Twitter operational, Disability Brochures and General purpose promotional brochures distributed.

Inclusive Toolkit book for shooting published.

Collect and Collate demographic info

Confirm general statistics required by ASC

Develop processes for lobby activities of AISL

Engage a lobbyist.

The board reviewed this position but the reality (cost vs effectiveness) is not viable.

Not achieved due mainly to the manner in which member bodies receive information. Current information obtained from informed sources.

Established newsletter (Shot Circuit) now 2 monthly as a means of contacting Government, etc. which is less confronting.

AISL ANNUAL REPORT 2010/11

11

Hi-Performance Report

and Resources 3Funding

KRA

KRA

Investigate Commercial and sponsorship/ partnership

Established opportunities for cobranding with Marsh Insurance. Concept received well, but take up by members not high so income stream limited.

Established relationship with Target manufacturer – again limited market

Sponsorship sought from various companies.

Tough market

National office staffing to resource Strat plan

Engaged Operations Manager - primary roles office & event support.

Review job descriptions and responsibilities with appointment of GM

Change to be completed in 2014

KRA

KRA

4Governance Identify Board Skills required

12

Identified Marketing and advertised. No take up. Reviewed and now seek expertise in disability sector.

KRA

KRA

Comment

Comment Given increase in activity and the need to gain further credibility within the disability sector

Hi-Performance Report PQS Overview

PQS @ Benchmark - Shotgun (World Championships Belgrade )

Event PQS Final Cut off vs PQS AVE Final Cut TRAP MEN 121 122 made finals - Our PQS 10th 121 TRAP WOMEN 69 72 made finals - Our PQS 19th 70 DOUBLE TRAP MEN 140 145 made final - Our PQS 29th 142 SKEET WOMEN 121 123 Made final - Our PQS 23rd 123 SKEET MEN 70 72 made final - Our PQS 15th 71

PQS @ Benchmark - Rifle (World Cup Sydney )

Event PQS Final Cut off vs PQS AVE Final Cut 10m AIR RIFLE WOMEN 396 397 made final - Our PQS 10th 395.6 10m AIR RIFLE MEN 595 595 made the final - 10 way s/off 595.6 50m 3 POS RIFLE WOMEN 580 581 made final - Our PQS 9th 581.6 50m 3 POS RIFLE MEN 1166 1165 made final 1168.8 50m PRONE RIFLE MEN 595 596 made final - Our PQS 9th 595.2 50m PRONE RIFLE WOMEN 592 No match

PQS @ Benchmark - Pistol (World Cup Sydney )

Event PQS Final Cut off vs PQS AVE Final Cut 10m AIR PISTOL WOMEN 383 383 made final 383.2 10m AIR PISTOL MEN 582 579 made final 580.8 25m PISTOL WOMEN 582 581 made final 580.2 50m PISTOL MEN 561 559 made final 559.6 25m RF PISTOL MEN 580 583 Made final - Our PQS 9th 580.6 25m STANDARD MEN 570 25m CENTREFIRE MEN 580

Team Size2011 ISSF World Cup Sydney 52 6 ISSF World Cup’s 50 ISSF World Cup Finals 2 ISSF World 15 Championships Commonwealth Games 30

Below is a detailed outline of the above 6 world cups ISSF World Cup Korea 7 ISSF World Cup

Fort Benning 5 ISSF World Cup Munich 10 ISSF World Cup Slovenia (S) 14 ISSF World Cup China (S) 10 ISSF World Cup Chile (S) 4 Total 50

AISL ANNUAL REPORT 2010/11

13

Coaches Committee Report

AISL Coaches Conference, Sydney, October 2011

The Coaches Committee has met twice this year, with the focus of meetings being initially to set a charter for how this committee will work. The following representatives from each member body have attended.

AISL

Carrie Quigley

PA

TRA

Tricia VanNus

NRAA Alex Timms

ACTA Brian Bailey/

Chris Gibson

Carrie Quigley

14

FGFA

Peter Heuke

Pros Vander Zalm

The Coaches Committee has: • Reviewed the Club Coach and Competition Coach Courses. The Committee agreed that the Courses remain relevant to the educational needs of new Coaches. They made recommendations for some small changes to the wording of the courses.

• Discussed Coach Education, and begun the process of sharing the content and educational material from each member body. Some member bodies are further along with this than others.

• Made some initial suggestions to the draft of the Advanced Coach Course, and will continue to add input to this course as it develops. It is expected that this Course will be available by the end of the year.

• Agreed that an AISL Coach Logbook that can be downloaded from the AISL Website would be a good resource for coaches, and reinforce their relationship with AISL as well as the member body they are affiliated with. (This will be available from the website soon).

• Would like to see the Coaches section on the AISL website more “user friendly” for coaches, with lots of information available. This will be something that AISL works toward over the next months, and develops over time to be a useful resource for coaches.

• The Coaches Committee will continue to meet, and address issues relating to coaching within AISL and the Member Bodies.

Pre Elite Development

After completing her Coaching Scholarship with the Australian Sports Commission earlier this year, Carrie Quigley has now taken on the role of Pre Elite Development Coordinator. This is a newly created position with Australian International Shooting, and its aims are to: • further develop and strengthen the pathways for athletes to progress from club level shooting to the high performance level, • support the education and development of coaches within Australia; and • maintain AISL’s commitment to Sports Connect by ensuring that all talent development and coaching programs are inclusive of athletes with a disability.

Carrie will work with Australian Clay Target Association, Pistol Australia, Target Rifle Australia, National Rifle Association Australia, and Field and Game Federation of Australia to achieve these goals.

Carrie began in this position in May 2011, and to date much of the focus has been on coach education, with her involvement in the following activities: • coordinating, planning and organising the Coaches Conference – which has been met with great enthusiasm by many coaches, • organising the Coaches Committee meetings – working with Coaching Directors of the Member Bodies to establish improved communication between them and AISL, • reviewing coach education, • planning a series of Presenters and Assessors training sessions which will be held next year in each state for coaches and officials.

Coach education and ongoing support is very important as good coaching is what athletes in clubs need to progress further in this sport.

Carrie has also been researching the range of development programs internationally in shooting sports, with the view to working with member bodies to integrate new ideas into Australian development programs. She has also spent time talking to a range of people within the Member Bodies about the Pre Elite Development role, and what she hopes to achieve in this position. Overwhelmingly, the reaction has been positive.

Coaches Conference AISL has undertaken to host a Conference for Coaches in the next financial year.

Much of the preparation and ground work for the Conference has occurred this year, and we are pleased to report that it has been an extremely positive and well received event, with over 80 Australian Coaches from the Member Bodies registering to attend.

Coaches have been assisted to attend with financial contributions from Member Bodies, State Associations, and Clubs. It is affirming to see such a high level of support for the ongoing education of Coaches from these areas.

AISL ANNUAL REPORT 2010/11

15

Financial Report Independent Audit Report to the members of Australian International Shooting Limited for the Year Ended 30 June 2011 Report on the Financial Report We have audited the accompanying financial report of Australian International Shooting Limited, which comprises the balance sheet as at 30 June 2011, and the income statement, statement of changes in equity and cash flow statement for the year ended that date a summary of significant accounting policies, other explanatory notes and the directors’ declaration.

Directors’ Responsibility for the Financial Report The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s Responsibility

Independence

Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001 has been provided to the directors of Australian International Shooting.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the financial report 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 entity’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 report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

16

Auditor’s Opinion In our opinion the financial report of Australian International Shooting 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 2011 and of its performance for the year ended on that date; and (b) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001.

Gray Perry DFK

Chartered Accountants

James W Perry

89-92 South Terrace Adelaide

Directors’ Report Your directors present their report on the company for the financial year ended 30 June 2011.

1. General information

3. Other items

a) Directors

a) Significant Changes in State of Affairs

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

Appointed/Resigned

Cheryl Anne Arnol Glenn Wallace O’Brien Robert Malcolm Marshall Sharon Reynolds Susannah Smith

01/07/2005 Resigned 13th April 2011 10/07/2005 24/01/2008 03/03/2008

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

a) Principal Activities

The principal activities of Australian International Shooting Limited during the financial year were to support competition shooting sports opportunities. No significant change in the nature of these activities occurred during the year.

2. Business review a) Operating Results

The (deficit)/surplus of Australian International Shooting Limited for the year amounted to $490,129 2010:$(171,546).

No significant changes in Australian International Shooting Limited’s state of affairs occurred during the financial year.

b) After balance day events

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of Australian International Shooting Limited, the results of those operations or the state of affairs of Australian International Shooting Limited in future financial years.

c) Auditors 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 29.

d) Rounding of amounts

The company is an entity to which ASIC Class order 98/100 applies and, accordingly, amounts in the financial statements and directors’ report have been rounded to the nearest one dollar.

Signed in accordance with a resolution of the Board of Directors:

Director: ..................................................................................

Director: ................................................................................

Dated this ............................. day of ......................... 2011

AISL ANNUAL REPORT 2010/11

17

Directors’ Declaration The directors of the company declare that: 1. The financial statements and notes, as set out on pages 1 to 19, 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 2011 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.

Director: ..................................................................................

Director: ................................................................................

Dated this ..............................day of ..........................2011

18

Financial Report Income statement For the year ended 30 June 2011

in $

2011 2010 Revenue Other income Employee benefits expense Depreciation, amortisation and impairments Competition and Training Other expenses Profit attributable to members

3,915,719 2,649,149 196,657 88,033 (719,235) (694,379) (25,150) (29,019) (2,250,903) (1,135,634) (629,959) (1,049,696) 490,129 (171,546)

Balance Sheet 30 June 2011

Note 2011

2010

ASSETS Current assets Cash and cash equivalents 2.

1,042,288 557,938 Trade and other receivables 3.

82,924 92,148 Inventories 4.

15,492 16,479 Total current assets 1,140,704 666,565 Non current assets Property, plant and equipment 5.

58,405 74,323 Total non current assets 58,405 74,323 TOTAL ASSETS 1,199,109 740,888 LIABILITIES Current liabilities Trade and other payables 6.

26,429 72,856 131,412 102,423 Short term provisions 7.

Other current liabilities - - Total current liabilities 143,371 175,279 TOTAL LIABILITIES 143,371 175,279 NET ASSETS 1,055,738 565,609 EQUITY Distributable Surplus 1,055,738 565,609 TOTAL EQUITY 1,055,738 565, 609

AISL ANNUAL REPORT 2010/11

19

Financial Report Statement of Changes in Equity For the year ended 30 June 2011

in $

2011

Retained Earnings

Total

Balance at 1 July 2010 565,609 565,609 Profit attributable to members 490,129 490,129 Transfers to and from reserves Sub total 490,129 490,129 Balance at 30 June 2011 1,055,738 1,055,738

2010

Retained Earnings

Total

Balance at 1 July 2009 737,155 737,155 Profit attributable to members (171,546) (171,546) Transfers to and from reserves Sub total (171,546) (171,546) Balance at 30 June 2010 565,609 565,609

20

Financial Report Cash Flow Statement For the year ended 30 June 2011

Note 2011

in $

2010

Cash from operating activities: Receipts from customers 4,097,491 2,690,033 Payments to suppliers and employees (3,618,857) (2,948,780) Interest received 14,950 9,124 Net cash provided by (used in) operating activities 11 493,583 (249,623) Cash flows from investing activities: Sale of property, plant and equipment - Acquisition of property, plant and equipment (9,233) (18,474) Net cash provided by (used in) investing activities (9,233) (18,474) Net increase (decreases) in cash held 484,350 (268,097) Cash at beginning of financial year 557,938 826,035 Cash at end of financial year 2 1,042,288 557,938

AISL ANNUAL REPORT 2010/11

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Financial Report Summary of Significant Accounting Policies For the year ended 30 June 2011 1 Statement of Significant Accounting Policies

22

(a) General Information

The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001.

The financial report covers the economic entity of Australian International Shooting Limited. Australian International Shooting Limited is a company limited by shares, incorporated and domiciled in Australia

The financial report of Australian International Shooting Limited complies with all Australian relevant equivalents to International Financial Reporting Standards (AIFRS).

The following is a summary of the material accounting policies adopted in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated.

(c) Comparative Figures

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

(d) Property, Plant and Equipment

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

Depreciation The depreciable amount of all fixed assets is depreciated on a diminishing value basis over their useful lives 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 Plant and Equipment 7.5% Office Equipment 7.5%

(b) Basis of Preparation

Reporting Basis and Conventions The financial report has been prepared on an accruals basis and is based on historical costs modified by the revaluation of selected non current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied.

Plant and Equipment Plant and equipment are measured on the cost basis.

40% 40%

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

(e) Inventories

Inventories are measured at the lower of cost and net realisable value. The cost of manufactured products includes direct materials, direct labour and an appropriate portion of variable and fixed overheads. Overheads are applied on the basis of normal operating capacity.

Costs are assigned on the basis of weighted average costs.

(f) Financial Instruments Recognition

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.

Financial Report Summary of Significant Accounting Policies For the year ended 30 June 2011

Financial Assets at Fair Value through Profit and Loss A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or if so designated by management and within the requirements of AASB 139: Recognition and Measurement of Financial Instruments. Realised and unrealised gains and losses arising from changes in the fair value of these assets are included in the income statement in the period in which they arise.

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 stated at amortised cost using the effective interest rate method.

Held-to-Maturity Investments These investments have fixed maturities, and the intention is to hold these investments to maturity. Any held to maturity investments held are stated 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 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 income statement.

(g) 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 balance sheet.

(h) 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, plus related on costs.

(i) Provisions

Provisions are recognised when the group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

(j) Income Tax

The entity is an exempt for tax entity for income tax purposes pursuant to section 50 45 of the ITAA 1997. Accordingly no income tax obligation exists.

(k) Revenue

Revenue from the sale of goods is recognised upon the delivery of goods to customers. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets.

Revenue from the rendering of services is recognised upon the delivery of the service to the customers.

All revenue is stated net of the amount of goods and services tax (GST).

(l) 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 balance sheet are shown inclusive of GST. Cash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.

AISL ANNUAL REPORT 2010/11

23

Financial Report Summary of Significant Accounting Policies For the year ended 30 June 2011

The company has applied the relief available to it under ASIC Class Order 98/100 and accordingly, amounts in the financial report and directors’ report have been rounded off to the nearest $1.

(m) Rounding of Amounts

•AASB 2010-4: Further Amendments to Australian Accounting Standards arising from the Annual Improvements Project {AASBs 1, 7, 101 & 134 and Interpretation 13] (applicable for annual reporting periods commencing on or after 1 January 2011).

(n) New Accounting Standards for Application in Future Periods

This Standard details numerous non-urgent but necessary changes to various Accounting Standards, including AASB 101 and AASB 108, arising from the IASB’s annual improvements project. These changes are not expected to have a major impact on the presentation of the company financial report. Key changes include:

The AASB has issued new and amended standards and interpretations that have mandatory application dates for future reporting periods and which the company has not adopted early. A discussion of those future requirements and their impact on the company is as follows:

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• AASB 2009-12: Amendments to Australian Accounting Standards [AASBs 5, 8, 108, 110, 112, 119, 133, 137, 139, 1023 & 1031 and Interpretations 2, 4, 16, 1039 & 1052] (applicable for annual reporting periods commencing on or after 1 January 2011).

This Standard makes a number of editorial amendments to a range of Australian Accounting Standards and Interpretations, including AASB 108: Accounting policies, Changes in Accounting Estimates and Errors and AASB 1031: Materiality. These editorial amendments have no major impact on the requirements of the respective amended pronouncements.

• amending AASB 101 to the effect that disaggregation of the changes in each component of equity arising from transactions recognised in other comprehensive income is required to be presented, but is permitted to be presented in the statement of changes in equity or in the notes.

The company does not anticipate early adoption of any of the above reporting requirements and does not expect these requirements to have any material effect on the company’s financial statements.

Financial Report Notes to the Financial Statements For the year ended 30 June 2011 2 Cash and Cash Equivalents

Cash at bank

2011

in $

2010

1,042,288 557,938 1,042,288 557,938

Reconciliation of Cash

2011

2010

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: 1,042,288 557,938 Cash and cash equivalents

1,042,288 557,938

3. Trade and Other Receivables

2011

2010

CURRENT 82,924 92,148 Trade receivables

82,924 92,148 NON CURRENT 4 Inventories

2011

2010

CURRENT At Cost 15,492 16,479

Merchandise

15,492 16,479 5. Property Plant and Equipment

PLANT AND EQUIPMENT Furniture, fixture and fittings At cost Less accumulated depreciation Total furniture, fixture and fittings

2011

2010

17,349 14,842 (7,707) (5,601) 9,642 9,241 AISL ANNUAL REPORT 2010/11

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Financial Report Notes to the Financial Statements For the year ended 30 June 2011

Diagnostic Equipment At cost Less accumulated depreciation Total Diagnostic Equipment Office equipment At cost Less accumulated depreciation Total office equipment Web Page Development At cost Less accumulated depreciation Total Web Page Development Target Equipment At cost Less accumulated depreciation Total Target Equipment Firearms At cost Less accumulated depreciation Total Firearms Total plant and equipment Total property, plant and equipment

2011

in $

2010

8,195 8,195 (7,987) (7,850) 208 345

190,280 187,373 (164,381) (149,652) 25,899 37,721

11,812 11,812 (11,739) (11,695) 73 117

192,124 192,124 (174,113) (167,270) 18,011 24,854

10,673 6,854 (6,101) (4,810) 4,572 2,044 58,405 74,322 58,405 74,322

5.1 Movements in Carrying Amounts

Diagnostic Furniture, Office Website Target

Equipment Fixtures Equipment Development Equipment

and Fittings

Current Year Balance at the beginning of year 345 9,241 37,721 117 24,854

Additions Other changes, movements Carrying amount at the end of year

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- 2,507 2,908 (137) (2,106) (14,729) 208 9,642 25,900

- (44) (6,843) 73 18,011

Financial Report Notes to the Financial Statements For the year ended 30 June 2011

Current Year

Firearms

in $

Total

Balance at the beginning of year 2,044 74,322

Additions 3,818 9,233 Other changes, movements (1,291) (25,150) Carrying amount at the end of year

4,571 58,405 6 Trade and Other Payables

2011

2010

CURRENT Unsecured liabilities Trade payables 17,237 43,193 Other payables 9,192 29,663 26,429 72,856 7 Provisions

Employee Total entitlements

Opening balance at 1 July 2009 Additional provisions Balance at 30 June 2011

Analysis of Total Provisions

Current

102,423 94,954 28,989 7,469 131,412 102,423

2011

2010

131,412 88,922 131,412 88,922

8 Other Liabilities

Current

Other deferred income Total

2011

2010

- - AISL ANNUAL REPORT 2010/11

- -

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Financial Report Notes to the Financial Statements For the year ended 30 June 2011 9 Members’ Guarantee

The company is limited by guarantee. If the company is wound up, the Constitution states that each member is required to contribute a maximum of $100 each towards any outstanding obligations of the company.

10 Auditors’ Remuneration

Remuneration of the auditor of the company for:

in $

2011

2010

Auditing or reviewing the financial report Other services

7,225 8,580 - -

11 Cash Flow Information

11.1Reconciliation of Cash Flow from Operations with Profit after Income Tax

2011

2010

Net income/loss for the period 490,129 (171,546) Cash flows excluded from profit attributable to operating activities Non cash flows in profit Depreciation 25,150 29,019 changes in assets and liabilities, net of the effects of purchase and disposal of subsidiaries (Increase)/decrease in trade and term receivables 65 (29,340) (50,750) (85,225) Increase/(decrease) in trade payables and accruals Increase/(decrease) in provisions 28,989 7,469

493,583 (249,623) 12 Company Details

12.1Registered office

The registered office of the company is: Australian International Shooting Limited 2A Jetty Road BRIGHTON SA 5048

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Financial Report 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 2011, 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.

Gray Perry DFK

Chartered Accountants

James W Perry 1st Floor 89 – 92 South Terrace Adelaide SA 5000

AISL ANNUAL REPORT 2010/11

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MARSH Insurance Report For the period 30 September 2010 to 30 September 2011 Introduction

T

he purpose of this report is to provide the Australian International Shooting Ltd [AISL] a snapshot of the Insurance Services provided to members year to date, news and developments. Included in the report is an activity summary detailing number of policies that have been bound, gross written premium and net income to the AISL. Contained herein is our update on the program participation data, and the marketing and communications brochure delivered in June 2011 to all Firearm Dealers in Australia.

We have seen an increase in cancelled policies over the past twelve months due to members placing their business elsewhere and market rate reductions, added to this two members of AISL have not supported the facility regardless of premium savings.

Currently we are reviewing the renewal placement for the period 2011 – 2012 due to possible changes with relation to underwriters. This may include a decrease in limits and a higher level of security requirements being introduced under the new guidelines.

Members who only have Public and Products Liability insurance will be automatically offered Personal Accident and Business Insurance quotations which should see an increase in premium volume over the next period.

We would be happy to receive any feedback as to your thoughts on the insurance program and any ideas that you may wish to implement in to the program in the future.

Income Summary Commercial Business 30 September 2008 to 30 September 2009 Number of policies YTD

Premium Earned YTD

Net Income to AISL YTD

44

$101,339.85

$2,496.97

Commercial Business 30 September 2009 to 30 September 2010 Number of policies YTD

Premium Earned YTD

Net Income to AISL YTD

78

$157,993.32

$7,312.94

Commercial Business 30 September 2010 to 30 September 2011 Number of policies YTD

Premium Earned YTD

Net Income to AISL YTD

61

$120,768.33

$5,179.64

Private Business 30 September 2008 to 30 September 2009

30

Number of policies YTD

Premium Earned YTD

Net Income to AISL YTD

23

$28,692.38

$936.61

MARSH Insurance Report Private Business 30 September 2009 to 30 September 2010 Number of policies YTD

Premium Earned YTD

Net Income to AISL YTD

27

$22,463.66

$1,012.38

Private Business 30 September 2010 to 30 September 2011 Number of policies YTD

Premium Earned YTD

Net Income to AISL YTD

26

$23,555.50

$834.85

Total Number of Policies and Income 30 September 2010 to 30 September 2011 Total Number of policies

Cancelled Policies

Premium Earned

Income to AISL

87

11

$144.323.83

$6,014.49

Total Number of Policies and Income 30 September 2009 to 30 September 2010 Total Number of policies

Cancelled Policies

Premium Earned

Income to AISL

105

3

$180,456.98

$7,325.32

Total Number of Policies and Income 30 September 2008 to 30 September 2009 Total Number of policies

Cancelled Policies

Premium Earned

Income to AISL

67

0

$130,032.23

$3,433.58

Marketing

Claims

The AISL scheme has not been utilised fully by members, this combined with the Global Financial Crisis has seen many clients reduce their insurance spend or lapse policies.

With the exception of Travel Insurance, all portfolios have run well during the period 30 September 2010 to 30 September 2011.

In June 2011 we produced the attached brochure that was distributed to over 400 Firearm Dealers in Australia. This will introduce new business to the scheme over the next twelve months. The online Domestic Travel product via AISL’s website has yet to be completed. When established, this product will add value to membership of AISL and increase participation rates.

Activity for the next period will include: Event Activity

Due Date

Private Client Services Campaign

Travel Product

New Offering November 2011

The loss ratio for Travel Insurance is poor due to three claims for approx. $8,500.

Type of Insurance

Loss Ratio

Property Insurance Public & Product Liability Personal Accident Travel Insurance Associations Liability Private Client Services

Nil Nil Nil 89% Nil 52%

Update AISL website December 2011 AISL ANNUAL REPORT 2010/11

31

Notes

AISL would like to thank its sponsors for their continued support.

Mail to PO Box 375, Brighton SA 5048 tel +61 8 8296 0951, fax +61 8 8296 0937 , email office@ausshooting.org web www.ausshooting.org 2A Jetty Road, BRIGHTON SA 5048