Annual report 2016 by Wenty Leagues

ANNUAL REPORT

2016

DIRECTORS

President: Ian McCann

Vice President: Adam Cromack

Alan Fowler

Justin Isaacs

Trevor Simpson

Laurie Capovilla

OAM

Robert Willis

George Mumford

OFFICE BEARERS HONORARY LIFE MEMBERS

MANAGEMENT

L. L. Rigby

1980

Deceased

Chief Executive Officer

Glenn Kovacs

W. L. Archer

1981

Deceased

R. A. McIntosh

1982

Deceased

Chief Financial Officer

Nicole Pearce

R. L. Collison

1982

Deceased

Gaming Manager

Renee Vartuli

R. N. Downing

1984

J. R. Scott

1986

R. R. Howard

1987

Deceased

T. P. Donoghue 1988

Deceased

W. F. Webster OAM 1991

Deceased

D. R. Cromack

1992

Deceased

K. F. Darke

1992

B. J. Doyle

1993

R. L. Mavin

1995

J. Felstead

1999

L. Capovilla

1999

N. Stoddart

1999

Operations and Food & Beverage Manager Michael Sue See Marketing Manager

Gina Skinner

Information Technology Communications Manager

Colin Dunbar

Facilities Manager Paul Felice Human Resources Manager

Rebecca Green

Auditors

KPMG

Bankers

Deceased Deceased

T. Simpson OAM 2001 B. Bowman

2002

Deceased

A. Downing

2009

Deceased

A. Branson

2011

J. Stephenson

2013

Solicitors

Commonwealth Bank of Australia

Frank Legal

59 TH ANNUAL REPORT 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED - ABN 25 000 244 459 50 Smith St, Wentworthville NSW 2145 Phone: 02 8868 9200 Fax: 02 8868 9290 Email: info@wentyleagues.com.au www.wentyleagues.com.au

President’s Report

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

Dear Members,

On behalf of the Board I am pleased to submit to Members the 59th Annual Report of Wentworthville Leagues Club. It is pleasing to report another significant profit before tax for 2016 of $9,708,680. We have again continued to see growth in revenue with the club’s operational revenue up $2.3m on 2015. With this continued growth in trade, membership and overall visitation, the need for the Master Plan to finally evolve and take shape has become more pertinent than ever. Members will have noticed that work has commenced on the Master Plan. The extension of the car park on the western side is nearing completion along with the acquisition of Mack Street. This extension of the car park will provide approximately an additional 160 spaces. Work has also begun on the new all-weather bowling green that will sit along Smith Street. We hope to deliver to Members this stage of the Master Plan by late 2017. Preliminary work has also commenced on the construction of the new multi-deck carpark on the southeast corner of the club’s estate. Once completed this will see an additional 700 car spaces for the convenience of members. This construction will not impact on existing parking, resulting in no inconvenience to members. Continuing with our commitment to our community, Wenty Leauges has continued to provide significant funding to a wide variety of groups. This support was over $1.5m in 2016 including both cash and in-kind. I look forward to your attendance at the 2017 AGM in the Starlight Room on Sunday 28th May 2017 for a further update of the Master Plan progress. In closing, I would like to thank my fellow Board members for their continued support and dedication to the club and for their professionalism in their role as a Director of Wenty Leagues. I also wish to thank the Management team for all their hard work during another incredibly busy year with very positive outcomes. My thanks also extends to the wives, husbands and partners of the Board and Management team for their understanding during the year. To the various sporting clubs and all of our Members, thank you for your support and passion for our Club.

Ian McCann President

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED Chief Executive Officerâ&#x20AC;&#x2122;s Report For The Financial Year Ended 31 December 2016 Dear Members,

The strategic planning of 2015 was implemented during the past year by the management team, ensuring the club has remained on track to deliver continued growth in overall profit and membership. Club membership increased again in 2016, with membership up by nearly 7% on 2015 reaching a total of 60,091 members for the yearâ&#x20AC;&#x2122;s end. This increase reflects the growing popularity and relevance of the club within the community. We continued to provide more exciting promotions for members in 2016 including two cars worth over $30,000 each and a major holiday and cash promotion with prizes valued over $60,000. Our Easter and Christmas raffles continued to prove popular with members with bumper crowds turning out for both. Entertainment at Wenty Leagues continued to include quality local and international acts. With many of the shows sell-outs we believe we have the right mix and variety of shows. We have also ensured a high standard of free entertainment in the Wenty Lounge for members to enjoy every Thursday, Friday, Saturday and Sunday evenings. Our catering team has also delivered a wide variety of menus that cater to all tastes and budgets which has resulted in excellent trade in our food outlets. Outside the Club, we have once again been active contributors to the community with our involvement in programs such as the Meals from the Heart dinners at Ronald McDonald House. We were pleased to be able to assist in some way with the important service provided at the House. Our commitment to conducting ourselves as a mindful and meaningful corporate citizen will continue in 2017. I wish to thank the Board for their ongoing support during the past year and to the Management team who have delivered another year of outstanding results in a professional and effective manner. We are looking forward to working towards the delivery of the next few stages of the Master Plan in 2017.

Glenn Kovacs Chief Executive Officer

59th Annual Report 2016

Wentworthville Leagues Club Limited

Constitutional Reporting 2015 $

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December2016 2016 2016 $ $

Member statement of of benefit (Rule 70)70) Member statement benefit (Rule 2016 The apportionment of the annual profit hashas been appropriated forfor improvements to the benefit forfor thethe members. The apportionment of the annual profit been appropriated improvements to the benefit members. 2016 $$ nefit for the members. Donation - Sporting bodies Donation - Sporting bodies Member statement of benefit 70) Member statement of incorporated benefit (Rule (Rule 70) and recreational clubs 789,740 Donation - Accredited sport Donation - Accredited incorporated sport and recreational clubs The The apportionment apportionment of of the the annual annual profit profit has has been been appropriated appropriated for for improvements improvements to to the the benefit benefit for for the the members. members. 290,248 Donations Clubgrants and other Donations - Clubgrants and other 430,490 Ringrose Park & bowling greens Ringrose Park & bowling greens Donation -- Sporting bodies 673,768 Donation Sporting bodies(non-gaming and net of revenue) Subsidised entertainment Subsidised entertainment (non-gaming and net of revenue) 613,645 Donation -- Accredited incorporated Donation Accredited incorporated sport sport and and recreational recreational clubs clubs Members expenses Members expenses 941,654 Donations and Donations -- Clubgrants Clubgrants and other other 3,739,545 Ringrose greens Ringrose Park Park && bowling bowling greens

789,740 789,740 275,135 275,083

456,486 456,486 634,908 634,908 789,740 789,740 743,955 743,955 275,083 275,083 1,063,679 1,063,679 456,486 456,486 3,963,903 3,963,851 634,908 634,908 743,955 743,955

Subsidised Subsidised entertainment entertainment (non-gaming (non-gaming and and net net of of revenue) revenue) Directors Honorariums (Rule 86:86: Allowance $57,000 + CPI) Directors Honorariums (Rule Allowance $57,000 + CPI) Members 1,063,679 Members expenses expenses 1,063,679 Position Name Position Name 3,963,851 3,963,851 President I McCann 12,513 President I McCann 12,511 12,253 Vice President A Cromack 7,072 Vice President A Cromack 7,072 6,926 Directors Honorariums (Rule $57,000 Directors Honorariums (Rule 86: 86: Allowance Allowance $57,000 ++ CPI) CPI) Director L Capovilla 7,072 Director L Capovilla 7,072 6,926 Position Name Position Name Director A Fowler 7,072 Director A Fowler 7,072 6,926 President II McCann 12,511 President McCann 12,511 Director J Isaacs 7,072 Director J Isaacs 7,072 6,926 Vice President AA Cromack 7,072 Vice President Cromack 7,072 Director G Mumford 7,072 Director G Mumford 7,072 6,926 Director LL Capovilla 7,072 Director Capovilla 7,072 Director T Simpson OAM 7,072 Director T Simpson OAM 7,072 6,926 Director AA Fowler 7,072 Director Fowler 7,072 Director R Willis 7,072 Director R Willis 7,072 6,926 Director JJ Isaacs 7,072 Director Isaacs 7,072 62,017 60,735 62,016 Director G 7,072 Director G Mumford Mumford 7,072 Director TTSimpson 7,072 Director Simpson OAM OAM 7,072 Directors expenses Directors expenses Directors expenses Director RR Willis 7,072 Director Willis 7,072 accordance the Constitution thethe total value of directors expenses under Rule 87 87 to Rule 93 93 (excluding Rule 92)92) forfor the Rule 93 In (excluding Rulewith 92) forthe theConstitution In accordance with total value of directors expenses under Rule to Rule (excluding Rule 62,016 62,016the In 2016 accordance with the is Constitution the total value The of directors expensesfor under Rule 87 to Rule 93 (excluding year (indexed for CPI) $148,789 (2015: $146,240). actual expenditure the year of $116,204 (2015: $131,986) year of $131,986 (2014: $106,137) year 2016 (indexed for CPI) is $148,789 (2015: $146,240). The actual expenditure for the year of $116,188 (2015: $131,986) Rule 92)and for the20% year 2016 (indexed for CPI)for isfor $148,789 (2015: $146,240). The actual expenditure the$25,820 year of 850 or 24% (increase inand 2014: 22% below thethe amount allocated the year and a decrease of $15,800 or -12% (increase infor 2015: is $32,586 below amount allocated the year and a decrease of $15,800 or -12% (increase in 2015: $25,820 is $32,602 Directors expenses Directors expenses or $116,204 24%) above the costs of the prior year. (2015: $131,987) is $32,585 and 22% below the amount allocated for the year and a decrease of $15,783 or 24%) above the costs of the prior year. or 12% (increase inConstitution 2015: $25,820 or 24%) above the costs of the prior year.87 In accordance with the the total value of expenses under 93 (excluding Rule 92) In accordance with the Constitution the total value of directors directors expenses under Rule 87 to to Rule Rule 93have (excluding Rule 92) for for the the do not have approved amounts of In accordance with the Constitution thethe Rule 92 92 Special functions and Rule 94 Rule Club attire do not approved amounts of In accordance with the Constitution Rule Special functions and Rule 94 Club attire do not have approved amounts of year 2016 (indexed for CPI) is $148,789 (2015: $146,240). The actual expenditure for the year of $116,188 (2015: $131,986) year 2016 (indexed for CPI) is $148,789 (2015: $146,240). The actual expenditure for the year of $116,188 (2015: $131,986) nnual increases is a combination of expenditure butbut rather apply a "reasonable expenditure" test. The base year forfor thethe CPICPI annual increases is aiscombination of of expenditure rather apply a "reasonable expenditure" test. The base year annual increases a combination In accordance with thethe Constitution the Rule 92 and 94 or Club attire do notininhave below amount for the year and aa decrease of $15,800 -12% (increase 2015: $25,820 $32,602 and he year is 2005. 20% below the amount allocated allocated for2000 theSpecial year andfunctions decrease ofRule $15,800 -12% (increase 2015:approved $25,820 is $32,602 and the adoption of20% the original Constitution in the year andand subsequent amendments inor the year 2005. the adoption of the original Constitution in the year 2000 subsequent amendments in the year 2005. amounts ofthe expenditure butprior rather apply a â&#x20AC;&#x153;reasonable expenditureâ&#x20AC;? test. The base year for the CPI annual increases or above year. or 24%) 24%) above the costs costs of of the the prior year.

is a combination of the adoption of the original Constitution in the year 2000 and subsequent amendments in the

In In accordance accordance with with the the Constitution Constitution the the Rule Rule 92 92 Special Special functions functions and and Rule Rule 94 94 Club Club attire attire do do not not have have approved approved amounts amounts of of year 2005. stitutionexpenditure Approved Actual but apply the annual increases isis aa combination of expenditure but rather rather applyaa "reasonable "reasonable expenditure" expenditure" test. test. The The base base year year for forCPI the CPI CPIConstitution annual increases combination of CPI Approved Actual Constitution Approved Actual adoption the amendments in the year 2005. owance the theAmount adoption of ofExpenditure the original original Constitution Constitution in in the the year year 2000 2000 and and subsequent subsequentBase amendments in the year 2005. Period Base PeriodAllowance Allowance Amount Amount Expenditure Expenditure $ $ $ Rule $ $ $ $ $ Rule $ 36,000 47,924 47,912 87 87 Clubs NSW, Leagues Club Association andand trade shows Jan-05 36,000 38,232 Clubs NSW, Leagues Club Association trade shows Jan-05 36,000 48,760 48,760 38,232 18,000 28,305 28,298 CPI Constitution Approved Actual CPI Constitution Approved Actual 88 88 Board meetings Club, charity and community attendance Jan-00 18,000 28,798 28,699 Board meetings Club, charity and community attendance Jan-00 18,000 28,798 28,699 9,500 12,647 10,961 Base Period Amount Expenditure Base Period Allowance Allowance Amount Expenditure 89 89 Partner club, charity or community attendance Jan-05 9,500 6,145 Partner club, charity or community attendance Jan-05 9,500 12,867 12,867 6,145 6,400 Rule 10,064 8,413 $$ $$ $$ Rule 90 90 Director & guest In house dinning Jan-00 6,400 10,239 6,828 Director & guest In house dinning Jan-00 6,400 10,239 6,828 25,000 39,313 31,871 87 Clubs NSW, Leagues Club Association and Jan-05 36,000 48,760 38,232 87 NSW, Leagues Club Association and trade trade shows shows Jan-05 36,000 48,760 38,232 91 91 Clubs Annual sports, Board & AGM functions Jan-00 25,000 39,998 32,881 Annual sports, Board & AGM functions Jan-00 25,000 39,998 32,881 88 Board meetings Club, charity and Jan-00 18,000 28,798 28,699 88 meetings Club, charity and community communityattendance attendance Jan-00 18,000 28,798 28,699 92 92 Board Special function - service & achievement N/AN/A Special function service & achievement 6,000 7,987 Partner club, 4,532 89 charity or community attendance Jan-05 9,500 12,867 6,145 89 club, charity or community attendance Jan-05 9,500 12,867 6,145 93 93 Partner Other expenses notnot specified in other rules Jan-05 6,000 3,419 Other expenses specified in other rules Jan-05 6,000 8,127 8,127 3,419 90 Director && guest -- In house dinning Jan-00 6,400 10,239 6,828 90 Director guest In house dinning Jan-00 6,400 10,239 6,828 94 Uniform attire N/A 94 Uniform attire N/A 100,900 146,240 131,987 91 Annual Jan-00 25,000 39,998 32,881 91 Annual sports, sports, Board Board && AGM AGM functions functions Jan-00 25,000 148,789 39,998 32,881 100,900 116,204 100,900 148,789 116,204 92 Special N/A 92 Special function function -- service service && achievement achievement N/A 93 Other Jan-05 6,000 8,127 3,419 93 Other expenses expenses not not specified specified in in other other rules rules Jan-05 6,000 8,127 3,419 94 94

Uniform Uniform attire attire

N/A N/A 100,900 100,900

Wentworthville Leagues Club Limited

148,789 148,789

116,204 116,204

59th Annual Report 2016

Constitutional Reporting

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

Directors expenses (continued)

2016 $

Professional development and education (Rule 87) Directors expenses (continued) Directors expenses (continued) Clubs NSW Leagues Club Association Professional development and education (Rule(Rule 87) 87) Professional development and education Clubs NSW Clubs NSW Clubs NSWregional meetings, Gaming Expo conference and trade show and attendance other clubs. Leagues Club Association Leagues Club Association ClubsClubs NSW NSW regional meetings, Gaming Expo Expo conference and trade show show and attendance other other clubs.clubs. regional meetings, Gaming conference and trade and attendance Board meetings and community & charity attendance (Rule 88) Board meals & beverage Cab charge Board meetings and community & charity attendance (Rule(Rule 88) 88) Board meetings and community & charity attendance Club community & charity event BoardBoard mealsmeals & beverage & beverage

2016 2016 $ $8,850 18,765

10,617 8,850 8,850 38,232 18,765 18,765 10,617 10,617 38,232 38,232 19,386 9,313

Cab charge Cab charge

19,386 19,386 28,699 9,313 9,313

Club community & charity eventevent Club community & charity Partner attendance at community & charity events (Rule 89) Club community and charity events.

28,699 28,699 6,145

Partner attendance at community & charity events (Rule(Rule 89) 89) Partner attendance at community & charity events Club community and charity events. Club community and charity events. Directors entertainment in house dining facilities (Rule 90) Directors entertainment in house dining facilities (Rule(Rule 90) 90) Directors entertainment in house dining facilities Special functions (Rule 91) Annual Sports & Recreation club dinner

6,1456,145 6,828 6,8286,828 28,213

AGM – May and(Rule December Special functions 91) 91) Special functions (Rule Annual Board dinner Annual Sports & Recreation club dinner Annual Sports & Recreation club dinner

2,146 2,522 28,213 28,213 32,881 2,1462,146 2,5222,522 32,881 32,881 3,419

AGM AGM – May–and MayDecember and December Annual BoardBoard dinnerdinner Annual Other expenditure (Rule 93) OtherOther expenditure (Rule(Rule 93) 93) expenditure Club attire (Rule 94)

3,4193,419 4,030

Club Club attireattire (Rule(Rule 94) 94) Aggregate sum of the 6 highest paid officers of the club (Rule 156 (b)(i))

4,0304,030

The aggregate sum representing the annual salaries, bonuses and emoluments paid (when taken together) to the 6 paid highest paid Officers of the club(Rule including CEO Aggregate sum of theof6 the highest officers of theofclub (Rule 156 (b)(i)) Aggregate sum 6 highest paid officers the club 156 the (b)(i)) The aggregate sum representing the annual salaries, bonuses and emoluments paid paid The aggregate sum representing the annual salaries, bonuses and emoluments without reference to name or title (2015: $1,108,642) (when(when takentaken together) to theto 6 the highest paid Officers of theof club the CEO together) 6 highest paid Officers theincluding club including the CEO s without without reference to name or titleor(2015: $1,108,642) reference to name title (2015: $1,108,642) Registered members (Rule 156 (b)(ii)) The number of members registered at the end of the club's financial year (2015: 56,213) Registered members (Rule(Rule 156 (b)(ii)) Registered members 156 (b)(ii)) The number of members registered at theat end theof club's financial year (2015: 56,213) The number of members registered theofend the club's financial year (2015: 56,213)

59th Annual Report 2016

Wentworthville Leagues Club Limited

1,268,155 1,268,155 1,268,155

60,091 60,091 60,091

WENTWORTHVILLE LEAGUES CLUB LIMITED DIRECTORS REPORT For The Financial Year Ended 31 December 2016

The Directors present their report together with the financial report of Wentworthville Leagues Club Limited (the Company or the Club) for the financial year ended 31 December 2016 and the auditor’s report thereon. Directors The Directors of the Company at any time during or since the end of the financial year are: Name Experience, qualifications, special responsibllltles and interest in contracts I McCANN President

Director 10 years including President 8 years. Chairman of Board’s Remuneration Committee and Property Corporate and Investment Committee. Director of Leagues Club Association. Delegate of member bodies of Clubs NSW and member of Club Directors Institute. Member of Clubs Corporate Governance Working Group, Boards Representative to Sports Council. Member of all Sporting Associations and patron of Darts Club and Cricket Club. Life member of WDRLFC. Interest in contracts - Nil

A CROMACK Vice President

Director 13 years including Vice President 4 years. Member of Board’s Remuneration Committee and Chairman of Audit, Risk and Compliance Committee. Member of member bodies of Clubs NSW and Club Directors Institute. Delegate to Leagues Club Association, Alternate to Sports Council and Ringrose Park Local Committee. Member of all Sporting Associations. Life member of WDRLFC. Interest in contracts - Platinum Electricians

A FOWLER Director

Director 6 years including past Vice President 2 years. Member of Board’s Audit, Risk and Compliance Committee and Remuneration Committee. Member of member bodies of Leagues Club Association and Club Directors Institute. Member of all Sporting Associations. Interest in contracts - Laing and Simmons Real Estate

L CAPOVILLA Director

Director 28 years. Honorary Life Member. Chairman of Board’s Sponsorship Committee. Alternate to Sports Council. Delegate to Leagues Club Association and member of Clubs NSW and Club Directors Institute. Alternate to Ringrose Park Local Committee. Member of all Sporting Associations, patron of Golf and life member of WUJRLFC and WDRLFC. Leagues Club Australia’s Board and Managers Service Awards 25 yrs. Delegate to the Football Clubs Reunion Committee. Interest in contracts - Nil

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED

Wentworthville Leagues Club LimitedDIRECTORS REPORT Directors' report (continued)

For The Financial Year Ended 31 December 2016

For the year ended 31 December 2014 Directors (continued) Name Experience, qualifications, Name Experience, qualifications, special special responsibllltles responsibllltles and and interest interest in in contracts contracts L CAPOVILLA Director 26 years. Honorary Life Member. Chairman of Board's Director Director 17 years. Honorary Life Member. of Board’s Property T SIMPSON OAM Sponsorship Committee. Alternate to Sports Member Council Delegate to Leagues Corporate and Investment Committee. Member of member bodies of Director Club Association and member of Clubs NSW and Club Directors Institute. Leagues Club Association and Club Directors Institute. Delegate to Alternate to President Ringrose of Park Local Park Committee. Member ofMember all Sporting Clubs NSW. Ringrose Local Committee. of all Sporting Associations patron to Swimming, co-patron of Darts, Associations, patron of including Golf and life member of WUJRLFC and WDRLFC. patron and lifeAustralia’s member of Jujitsu WUJRLFC. Recipient Australian Leagues Club Board andand Managers Service Awardsof25 yrs. sports and Order of Australia medals and NSW senior achievement Interest in contracts - Nil award. Leagues Club Australia’s Board and Managers Service Awards 15yrs. Recipient of Life the Paul Harris fellow of for Board's HolroydProperty Rotary. T SIMPSON OAM Director 15 years. Honorary Member. Member Interest in contracts - Nil Director Corporate and Investment Committee. Member of member bodies of

J ISAACS Director

Leagues Club Association and Club Directors Institute. Delegate to Clubs NSW. President of Ringrose Park Local Committee. Member of all Director Associations 8 years. Member Board’s Remuneration Committee Sporting including of patron to Swimming, co-patron of Darts, and Audit, Risk and Compliance Committee. Member of patron and life member of Jujitsu and WUJRLFC. Recipient of Australian member Association Club Directors sports andbodies Order ofof Leagues Australia Club medals and NSW and senior achievement Institute. Member of all Sporting Associations including patron award. Leagues Club Australia’s Board and Managers Service Awards of Darts Club and Life member and President of Cricket Club. 15yrs. Interest inincontracts contracts- -Nil Wentworthville Leagues Cricket Club. Interest

J ISAACS G MUMFORD Director Director

Director 6 years. Member of Board's Remuneration Committee and Audit, Director 10 non consecutive of bodies Board’sof Leagues Property Risk and Compliance Committee. years. MemberMember of member Corporate and Investment Committee. Member of member bodies of Club Association and Club Directors Institute. Member of all Sporting Leagues Clubincluding Association and ofClub Directors all Associations patron Darts Club Institute. and Life Member member ofand Sporting Associations including Life Member of Men’s Bowls Club. President of Cricket Club in contracts contracts -- Wentworthville Nil Interest in Leagues Cricket Club.

G MUMFORD Director R WILLIS

Director 8 non consecutive years. Member of Board's Property Corporate

Director

Director 2 years. Vice President Cricket bodies Club. of Member the and Investment Committee. Member of member Leaguesof Club Board’s Sponsorship Committee. Member of Club Directors Institute. Association and Club Directors Institute. Member of all Sporting Life Member of the Cricket Club and Secretary of the Ringrose Associations including Life Member of Men's Bowls Club. Park Local Committee. Member of all Sporting Associations Interest in contracts - Nil Interest in contracts - Wentworthville Leagues Cricket Club

SHORT AND LONG TERM OBJECTIVES To promote and encourage the sport of Rugby League in the Wentworthville district. To be the community's venue of choice that special destination every day of the week for that memorable experience. STRATEGY FOR ACHIEVING OBJECTIVES The objectives will be achieved through providing a value offering in product and service while increasing profitability in a quality hospitality and entertainment venue.

59th Annual Report 2016

Wentworthville Leagues Club Limited

Directors' report (continued) For the year ended 31 December 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED DIRECTORS REPORT For The Financial Year Ended 31 December 2016

SHORT AND LONG TERM OBJECTIVES To promote and encourage the sport of Rugby League in the Wentworthville district. To be the community's venue of choice, that special destination every day of the week for that memorable experience. SHORT AND LONG TERM OBJECTIVES To promote and encourage the sport of Rugby League in the Wentworthville district. To be the communityâ&#x20AC;&#x2122;s STRATEGY FOR ACHIEVING OBJECTIVES venue of choice, that special destination every day of the week for that memorable experience. The objectives will be achieved through providing a value offering in product and service while increasing profitability in a quality hospitality and entertainment venue. STRATEGY FOR ACHIEVING OBJECTIVES PRINCIPAL The objectives will beACTIVITIES achieved through providing a value offering in product and service while increasing The principal of and the company during the course of the financial year were that of a licensed profitability in a qualityactivities hospitality entertainment venue. club. The purpose of the club is to promote and encourage the sport of Rugby League and to provide facilities and services to its members. PRINCIPAL ACTIVITIES

The principal activities of the company during the course of the financial year were that of a licensed club. The purpose of the club to promote THE and encourage the sport of Rugby League and to provide facilities and ACTIVITIES IN is ACHIEVING OBJECTIVES services to its members. The principal activities provided a financial return sufficient to maintain the assets of the club, promote and encourage the sport of Rugby League in the Wentworthville district and provide, promote and ACTIVITIES IN ACHIEVING THEwithin OBJECTIVES develop an environment the club directed towards good fellowship and social harmony The principal activities provided a financial return sufficient to maintain the assets of the club, promote and amongst its members. encourage the sport of Rugby League in the Wentworthville district and provide, promote and develop an environment within the club directed towards good fellowship and social harmony amongst its members. MEASUREMENT OF PERFORMANCE The entity is measured against a financial budget, a strategic plan and a set of key performance MEASUREMENT OF PERFORMANCE indicators that are assigned to its senior management team. In addition, research is carried out to The entity is measured against a financial budget, a strategic plan and a set of key performance indicators assess the team's performance with regard to the demographic of the area and our competition. that are assigned to its senior management team. In addition, research is carried out to assess the teamâ&#x20AC;&#x2122;s performance with regard to the demographic of the area and our competition.

MEMBERSHIP MEMBERSHIP The company is limited by guarantee and without share capital. If the company is wound up, Rule 23 The company limited by guarantee share capital. company is wound up, Rule 23 of the of the is Constitution states that and eachwithout member at that time,Iforthe within one year afterwards is required to Constitution states that each member at that time, or within one year afterwards is required to contribute contribute a maximum of $1 each towards meeting any outstanding obligations of the company. As aat maximum $1 each towards meeting any outstanding obligations of members the company. As the at 31 December 2016 31ofDecember 2016 there are 60,091 (2015: 56,213) current across following there aremembership 60,091 (2015: 56,213) current members across the following membership classes:classes:Type Foundation life Honorary life Companion Life Twenty five year Fifty year Standard Concessional Staff

Number

32 9 5 2,396 193 44,483 12,902 71 60,091

RESULTS OF OPERATIONS RESULTS OFprofit OPERATIONS The after tax for the financial year is $9,276,586 (2015: Profit $20,453,155), included in prior The profityear afterprofit tax for financial is $9,276,586 Profit $20,453,155), included in prior year profit is athe one-off gainyear on sale of asset of (2015: $12,051,111. is a one-off gain on sale of asset of $12,051,111.

Wentworthville Leagues Club Limited

59th Annual Report 2016

Wentworthville Leagues Club Limited entworthville Leagues Club Limited Wentworthville Leagues Club Limited Wentworthville Leagues Club Limited WENTWORTHVILLE LEAGUES CLUB LIMITED Directors' report (continued) rectors'Directors' report (continued) report (continued) DIRECTORS REPORT For the 31 year ended 312016 December 2016 the yearFor ended December 2016 the 31 year ended December Directors' report (continued) For The Financial Year Ended 31 December 2016

For the year ended 31 December 2016 DIRECTORS' MEETINGSDIRECTORS' DIRECTORS' MEETINGS MEETINGS The sets outmeetings number ofand Director's heldyear. and attended during the year. The followingThe table sets out thefollowing number of Director's held attended during the following table sets outtable the number ofthe Director's meetings heldmeetings and attended during the year. DIRECTORS' MEETINGS During the year 17 board meetings were held. Under the Board's Charter for its Committee the During the year 17 board meetings were held. Under Board's for itsCharter Committee During the year 17 board meetings were the held. UnderCharter the Board's for itsthe Committee the The following MEETINGS table sets out the number of Director's meetings held and attended during the year. DIRECTORS’ Directors along with management combine to the responsibilities of Corporate the Property Corporate Directors along with management combine to undertake theundertake responsibilities of the Property Corporate Directors along with management combine to theundertake responsibilities of the Property During the year 17 board meetings were held. Under the Board's held Charter its Committee The following table sets the number ofCommittee, Director’s andfor attended during the theCommittee, year. During and Investment Committee, Audit Risk andmeetings Compliance Committee, Sponsorship and Investment Audit Riskout and Compliance Sponsorship Committee, andCommittee, Investment Committee, Audit Risk and Compliance Committee, Sponsorship Committee, Directors along with management combine to the undertake the responsibilities of the Property Corporate the year 17 board meetings were held. Under Board’s Charter for its Committee the Directors along with Disciplinary Committee and Remuneration Committee meetings. Disciplinary Committee Remuneration Committee meetings. Disciplinaryand Committee and Remuneration Committee meetings. and Investment Committee, Audit Risk ComplianceofCommittee, Committee, management combine to undertake the and responsibilities the PropertySponsorship Corporate and Investment Committee, Disciplinary Committee and Committee, Remuneration CommitteeCommittee, meetings. Disciplinary Committee and Remuneration Audit Risk and Compliance Sponsorship Committee meetings. The directors have also attended other and functions in fulfilling their duties, but not The directorsThe have also attended other meetings and functions in meetings fulfilling their duties, inclusive but inclusive not directors have also attended other meetings and functions in fulfilling their duties, but inclusive not limited to industry professional bodies, sporting and political representatives limited to industry professional bodies, sporting associations, councils andassociations, political representatives limited to industry professional bodies, sporting associations, councils and councils political representatives The directors have also attended other meetings and functions in fulfilling their duties, inclusive but not functions and sporting club committees throughout the year. Directors alsoclub attended otherthe meetings functions andThe sporting clubhave committees throughout year. and functions and sporting committees throughout thefunctions year. in fulfilling their duties, inclusive but not limited limited to industry professional bodies, sporting associations, councils and political representatives to industry professional bodies, sporting associations, councils and political representatives functions and functionsclub andcommittees sporting club committees the year. sporting throughout the throughout year. Board meetings and Board meetings and Board meetings and Charter Committees Director Other meetings Charter Committees Other meetings Charter Committees Other meetings Board meetings and Available Attendance Available Attendance Available Attendance Charter Committees Director Other meetings 3536 3436 36 Ian McCann Ian McCann Ian McCann 35 35 34 34 Available Attendance Adam 36 Cromack 3723 3623 23 Adam Cromack 37 Adam Cromack 37 36 Ian McCann 35 34 36 Willis 3627 3527 27 Robert WillisRobert Willis Robert35 36 36 35 Adam Cromack 37 36 23 Laurie 36 Capovilla 36 3723 3623 23 Laurie Capovilla 37 Laurie Capovilla 37 Robert Willis 36 35 27 3411 3211 11 Alan Fowler Alan Fowler Alan Fowler 34 34 32 32 Laurie Capovilla 37 36 23 Isaacs 3621 3521 21 Justin IsaacsJustin IsaacsJustin 35 36 36 35 Alan Fowler 34 32 11 George34Mumford 34 3622 3422 22 George Mumford 36 George Mumford 36 Justin Isaacs 36 35 21 Trevor Simpson OAM 34 32 25 Trevor Simpson OAM 34 Trevor Simpson OAM 3425 32 32 25 George Mumford 36 34 22 285 274 188 Trevor Simpson OAM 34 32 25 Director

Director

DIRECTORS' AND EXECUTIVES' REMUNERATION DIRECTORS' AND EXECUTIVES' REMUNERATION DIRECTORS' AND EXECUTIVES' REMUNERATION DIRECTORS’Remuneration AND EXECUTIVES’ REMUNERATION is86 inwith accordance 86 of the Constitution. Remuneration of directors isof indirectors accordance with Rule of the Constitution. Remuneration isofindirectors accordance Rule 86 with of theRule Constitution. DIRECTORS' AND EXECUTIVES' REMUNERATION Remuneration of directors is in accordance with Rule 86 of the Constitution. Remuneration of directors is in accordance with Rule 86 of the Constitution. of the company Directors ofDirectors the company of Directors the company Directors of the Details of provided Details of remuneration provided to remuneration directors follows:-istoasdirectors Details of remuneration providedistoas directors follows:-is as follows:Directors of thecompany company Details of remuneration provided to directors is as follows:Details of remuneration provided to directors is as follows:Directors Directors Honorarium Honorarium Honorarium Directors I McCann (President)12,511 12,511 I McCann (President) I McCann (President) 12,511 Directors Honorarium Adam Cromack (Vice7,072 President) 7,072 7,072 Adam Cromack (Vice President) Adam Cromack (Vice President) 3 I McCann (President) 12,511 R Willis 7,072 R Willis 7,072 R Willis 7,072 Adam Cromack (Vice President) 7,072 7,072 L Capovilla L Capovilla L Capovilla 7,072 7,072 R Willis 7,072 A Fowler 7,072 A Fowler 7,072 A Fowler 7,072 L Capovilla 7,072 J Isaacs 7,072 J Isaacs 7,072 J Isaacs 7,072 A Fowler 7,072 7,072 G Mumford G Mumford G Mumford 7,072 7,072 J Isaacs 7,072 T Simpson OAM 7,072 T Simpson OAM 7,072 T Simpson OAM 7,072 G Mumford 7,072 T Simpson OAM 7,072

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED

Directors' report (continued)

For The Financial Year Ended 31 December 2016

DIRECTORS REPORT

For the year ended 31 December 2014 DIRECTORS' AND EXECUTIVES' REMUNERATION (CONTINUED) DIRECTORS’ AND EXECUTIVES’ REMUNERATION (CONTINUED) Officers of the company Officers of the company The executive's remuneration package may contain the key elements of salary, superannuation and The executive’s remuneration package may contain the key elements of salary, superannuation and long service leave with benefits including motor vehicles and performance based incentive scheme. long service leave with benefits including motor vehicles and performance based incentive scheme.

In accordance with Rule 159 (b) of the Constitution, the aggregate remuneration representing the annual salaries,with bonuses and(b)emoluments providedthe to aggregate the 6 highest paid officers of the company is In accordance Rule 159 of the Constitution, remuneration representing the $1,268,155 (2015: $1,108,642). annual salaries, bonuses and emoluments provided to the 6 highest paid officers of the company is $1,042,854 (2013: $982,850). AUDITOR’S INDEPENDENCE DECLARATION The auditor’s independence declaration is included on page 10. AUDITOR'S INDEPENDENCE DECLARATION Signed in accordance with adeclaration resolution of the directors made The auditor's independence is included on page 7. pursuant to s298(2) of the Corporations Act 2001. Signed in accordance with a resolution of the directors made pursuant to s298(2) of the Corporations Signed in accordance with a resolution of the directors: Act 2001. Signed in accordance with a resolution of the directors:

I McCann Director 1st April Dated at Sydney, 27th April2015 2017

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001

Independent Auditor’s Report

To: the directors of Wentworthville Leagues Club Limited I declare that, to the best of my knowledge and belief, in relation to our audit for the financial year ended 31 December 2016, there have been:

To the members of Wentworthville Leagues Club Limited

(i) Opinion no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and We have audited the Financial Report of

ABCDWentworthville Leagues Club Limited (the

The Financial Report comprises:

of financial position as at 31 December • Statement (ii) Company). no contraventions of any applicable code of professional conduct in relation to the audit. 2016

In our opinion, the accompanying Financial Report of the Company is in accordance with the Corporations Act 2001, including:

• giving a true and fair view of the KPMG

Company’s financial position as at 31 December 2016 and of its financial performance for the year ended on that date; and

•

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 including a summary of significant accounting policies

•

Directors’ Declaration.

• complying with Australian Accounting CameronStandards Roan - Reduced Disclosure Requirements and the Corporations

Partner Regulations 2001.

Sydney Basis for opinion

27th April 2017

We conducted our audit in accordance with Australian Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. We are independent of the Company in accordance with the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the Financial Report in Australia. We have fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the Directors of Wentworthville Leagues Club Limited, would be in the same terms if given to the Directors as at the time of this Auditor’s Report.

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

Independent Auditor’s Report To the members of Wentworthville Leagues Club Limited Opinion We have audited the Financial Report of Wentworthville Leagues Club Limited (the Company). In our opinion, the accompanying Financial Report of the Company is in accordance with the Corporations Act 2001, including:

•

giving a true and fair view of the Company’s financial position as at 31 December 2016 and of its financial performance for the year ended on that date; and

The Financial Report comprises: •

Statement of financial position as at 31 December 2016

•

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 including a summary of significant accounting policies

•

Directors’ Declaration.

complying with Australian Accounting Standards - Reduced Disclosure Requirements and the Corporations Regulations 2001.

Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. We are independent of the Company in accordance with the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the Financial Report in Australia. We have fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the Directors of Wentworthville Leagues Club Limited, would be in the same terms if given to the Directors as at the time of this Auditor’s Report.

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

Independent Auditor’s Report

Other Information

Other Information is financial and non-financial information in Wentworthville Leagues Club Limited’s annual reporting which is provided in addition to the Financial Report and the Auditor’s Report. This includes the President’s Report, Chief Executive Officer’s Report, Constitutional Reporting, Directors Report Unauditedof Income Statements. The Directors are responsible To theand members Wentworthville Leagues Club Limited for the Other Information. Prior to the date of this Auditor’s Report, we received all the Other Information with the exception of the President’s Report and Chief Executive Officer’s Report. Opinion Our opinion on the Financial Report does cover the Other Information and, accordingly, we do not Financial Report comprises: We have audited the Financial Report of not The express any form of assurance conclusion thereon. Wentworthville Leagues Club Limited (the • Statement of financial position as at 31 December Company). In connection with our audit of the Financial Report, 2016our responsibility is to read the Other Information. In doing so, we consider whether the Other Information is materially inconsistent with In our opinion, the accompanying Financial Statement or lossappears and other • in the Financial Report or our knowledge obtained the audit,oforprofit otherwise to comprehensive be materially Report of the Company is in accordance income, Statement of changes in equity, and misstated. with the Corporations Act 2001, including: Statement of cash flows for the year then ended We required report if weofconclude that there is a material misstatement of this Other giving a true to and fair view the • are • Notes including a summary of significant accounting Information, andfinancial based on the work we Company’s position as at 31have performed on the Other Information that we obtained priorDecember to the date2016 of this Report we havepolicies nothing to report. andAuditor’s of its financial performance for the year ended on • Directors’ Declaration. that date; and Responsibilities of the Directors for the Financial Report • complying with Australian Accounting Standards - Reduced Disclosure The Directors are responsible for: Requirements and the Corporations Regulations the2001. Financial Report that gives a true and fair view in accordance with Australian • preparing Accounting Standards - Reduced Disclosure Requirements and the Corporations Act 2001 •

implementing necessary internal control to enable the preparation of a Financial Report that gives a true and fair view and is free from material misstatement, whether due to fraud or error

Basis for opinion the Company’s ability to continue as a going concern. This includes disclosing, as • assessing applicable, matters related to going concern and using the going concern basis of accounting We unless conducted audit in accordance with Standards. We believe the audit theyour either intend to liquidate theAustralian CompanyAuditing or to cease operations, or havethat no realistic evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. alternative but to do so. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. Auditor’s responsibilities for the audit of the Financial We are independent of the Company in accordance with theReport Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics Our objective is:Accountants (the Code) that are relevant to our audit of the Financial Report in for Professional Australia. Wereasonable have fulfilled our otherabout ethical responsibilities in accordance the Code. assurance whether the Financial Report aswith a whole is free from • to obtain material misstatement, whether due to fraud or error; and We confirm that the independence declaration required by the Corporations Act 2001, which has been Directors of Wentworthville Leagues Club Limited, would be in the same terms if issueto anthe Auditor’s Report that includes our opinion. • togiven given to the Directors as at the time of this Auditor’s Report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error. They are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Financial Report.

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

ABCD A further description of our responsibilities for the Audit of the Financial Report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/auditors_files/ar3.pdf. A further description ourofresponsibilities for the Audit of the Financial Report is located at the This description formsofpart our Auditor’s Report. Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/auditors_files/ar3.pdf. This description forms part of our Auditor’s Report.

Independent Auditor’s Report

To the members of Wentworthville Leagues Club Limited KPMG

Cameron Roan

Opinion KPMG We have audited the Financial Report of Wentworthville Leagues Club Limited (the Company). In our opinion, the accompanying Financial Report of the Company is in accordance with the Corporations Act 2001, including:

•

giving a true and fair view of the Company’s financial position as at 31 December 2016 and of its financial performance for the year ended on that date; and

Cameron Roan Partner The Financial Report comprises: Partner Sydney • Statement of financial position as at 31 December 2016 Sydney 30 March 2017 • Statement of profit or loss and other comprehensive 27th AprilStatement 2017 30 March 2017 income, of changes in equity, and Statement of cash flows for the year then ended •

Notes including a summary of significant accounting policies

•

Directors’ Declaration.

complying with Australian Accounting Standards - Reduced Disclosure Requirements and the Corporations Regulations 2001.

Wentworthville Leagues Club Limited

59th Annual Report 82016 10

WENTWORTHVILLE LEAGUES CLUB LIMITED DIRECTORS DECLARATION For The Financial Year Ended 31 December 2016

Wentworthville Leagues Club Limited Directors' declaration In the opinion of the directors of Wentworthville Leagues Club Limited (the Company): (a) the Company is not publicly accountable; (b) the financial statements and notes, set out on pages 15 to 36, are in accordance with the Corporations Act 2001, including: (i) giving a true and fair view of the Company's financial position as at 31 December 2016 and of its performance for the financial year ended on that date; and (ii) complying with Australian Accounting Standards - Reduced Disclosure Regime and the Corporations Regulations 2001; and (c) there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

Signed in accordance with a resolution of directors.

_________________________________ I McCann Director Dated at Wenworthville, 27th April 2017 Dated at Wentworthville this 31st day of March 2016

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Wentworthville WentworthvilleLeagues LeaguesClub ClubLimited Limited For The Financial Year Ended 31 December 2016 Wentworthville Wentworthville Leagues Leagues Club Club Limited Limited Notes Notestotothe thefinancial financialstatements statements(continued) (continued) Statement Statement of of profit profit or or loss loss and and other other comprehensive comprehensive income income For For the the year year ended ended 3131 December December 2016 2016 ForFor thethe year year ended ended 31 December 31 December 2016 2016 4 4 Profit Profit from from operations operations In AUD In In AUD AUD

Revenue Revenue from from rendering rendering services services Revenue Revenue Revenue Revenue from from beverage beverage outlet outlet sales sales Other Other income income Revenue Revenue from from catering catering outlet outlet sales sales Loss Loss from from disposal disposal of non of non current current asset asset Membership Membership subscriptions subscriptions Change Change of inventories of inventories of finished of finished goods goods Commissions Commissions Donations Donations -ATM -ATM Personnel Personnel expenses expenses -Keno -Keno Entertainment, Entertainment, advertising andand promotions promotions -TAB -TAB advertising Poker Poker machine machine compliance compliance costs costs -Vending -Vending Legal, Legal, consulting consulting andand auditor auditor feesfees -Other -Other RawRaw materials materials andand consumables consumables used used Entertainment Entertainment and promotion promotion Repairs, Repairs, consumables consumables and and maintenance maintenance Investment Investment property property rentals rentals Utilities Utilities and and government government charges charges Other Other revenue revenue Other Other expenses expenses Total Total revenue revenue from from operations operations Profit Profit before before depreciation, depreciation, income income tax tax andand finance finance costs costs Other Other income income Depreciation Depreciation and and amortisation amortisation Gain Gain onon sale sale of of asset asset Results Results from from operating activities activities Reversal Reversal ofoperating of impairment impairment loss loss onon investment investment property property Loss Loss from from disposal disposal ofof non non current current asset asset Finance Finance income income Loss Loss from from disposal disposal ofof non non current current asset asset Finance Finance expenses expenses Write-off Write-off ofof property, property, plant plant and and equipment equipment NetNet finance finance costs costs

Note Note 4 4 4 4 4 4

5 5

2015 2015 2015 2015 $

51,146,386 51,146,386 49,791,706 49,791,706 68,295,654 68,295,654 65,968,628 65,968,628 5,266,631 5,266,631 5,029,026 5,029,026 314,777 314,777 12,400,187 12,400,187 9,247,373 9,247,373 8,312,447 8,312,447 (1,166,901) (1,166,901) (620,267) (620,267) 188,844 188,844 177,581 177,581 28,558 28,558 (354) (354) (1,568,611) (1,568,611) (1,557,727) 146,603 146,603 (1,557,727) 325,783 325,783 (16,479,846) (16,479,846) (15,357,445) 237,026 237,026 (15,357,445) 275,694 275,694 (5,850,081) (5,850,081) (5,205,961) 98,313 98,313 (5,205,961) 92,623 92,623 (14,094,975) (14,094,975) (13,653,337) 41,724 41,724 (13,653,337) 41,713 41,713 (197,279) (197,279) (185,554) (185,554) 24,456 24,456 24,377 24,377 (5,867,071) (5,867,071) (5,264,167) 934,235 934,235 (5,264,167) 789,379 789,379 (1,814,365) (1,814,365) (1,844,491) 891,928 891,928 (1,844,491) 1,059,702 1,059,702 (2,182,089) (2,182,089) (2,150,332) 72,135 72,135 (2,150,332) 48,597 48,597 (3,614,744) (3,614,744) (3,404,848) (3,404,848) 68,295,654 68,295,654 65,968,628 65,968,628 15,803,027 15,803,027 29,124,332 29,124,332 (5,733,637) (5,733,637) (5,647,996) - - (5,647,996) 12,051,111 12,051,111 10,069,390 10,069,390 23,476,336 314,777 314,777 23,476,336 349,076 349,076 314,777 314,777 12,400,187 12,400,187

6 6

121,973 121,973 712,463 712,463 (716,901) (716,901) (170,267) (170,267) (482,683) (482,683) (1,288,497) (1,288,497) (450,000) (450,000) (450,000) (450,000) (360,710) (360,710) (576,034) (576,034) (1,166,901) (1,166,901) (620,267) (620,267) 9,708,680 9,708,680 22,900,302 22,900,302

Profit Profit before before income income tax tax

5 5 Personnel Personnel expenses expenses Income Income tax tax expense expense In In AUD AUD Profit Profit for for the the year year Wages Wages and and salaries salaries

2016 2016 2016 2016

7 7

Payroll Payroll tax tax Other Other comprehensive comprehensive income income Workers Workers compensation compensation Total Total comprehensive comprehensive income for for thebenefits the year year (Increase)/ (Increase)/ decrease decrease inincome in employee employee benefits

Contributions Contributions toto defined defined contribution contribution plans plans Other Other associated associated employee employee expenses expenses

6 6 Finance Finance income income and and finance finance costs costs In In AUD AUD

Dividend Dividend income income Interest Interest income income Finance Finance income income

(432,094) (432,094) (2,447,147) (2,447,147) 2016 2016 2015 2015 9,276,586 9,276,586 20,453,155 20,453,155 13,567,237 13,567,237 12,597,551 12,597,551 748,790 748,790 676,063 676,063 - 211,947 211,947 214,681 214,681 9,276,586 9,276,586 20,453,155 20,453,155 31,436 31,436 36,891 36,891 1,249,284 1,249,284 1,184,946 1,184,946 671,152 671,152 647,313 647,313 16,479,846 16,479,846 15,357,445 15,357,445 2016 2016

275 275 121,698 121,698 121,973 121,973

Interest Interest expense expense (482,683) (482,683) Change Change inin Financial Financial assets assets atat fair fair value value through through profit profit oror loss loss - (482,683) (482,683) Finance Finance costs costs The notes on pages 19 to 36 are an integral part of these financial statements.(360,710) (360,710) Net Net finance finance costs costs recognised recognised inin profit profit oror loss loss

2015 2015

1,255 1,255 711,208 711,208 712,463 712,463

(1,286,339) (1,286,339) (2,158) (2,158) (1,288,497) (1,288,497) (576,034) (576,034)

TheThe notes notes on pages on pages 12 to 1229 to are 29 are an integral an integral partpart of these of these financial financial statements. statements.

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED STATEMENT OF FINANCIAL POSITION

Wentworthville WentworthvilleLeagues LeaguesClub ClubLimited Limited For The Financial Year Ended 31 December 2016 Wentworthville Leagues Club Limited Wentworthville Leagues Club Limited Notes Notestotothe thefinancial financialstatements statements(continued) (continued) Statement of ended financial position of3131 financial position For ForStatement the theyear year ended December December 2016 2016

As at 31As December 2016 2016 at 31 December 44 Profit Profitfrom fromoperations operations

In AUD

In AUD InIn AUD AUD

Assets Assets Cash and cashand equivalents Cash cash Revenue Revenue from fromequivalents rendering renderingservices services Trade and other receivables Trade and from other receivables Revenue Revenue frombeverage beverageoutlet outletsales sales Inventories Inventories Revenue Revenuefrom fromcatering cateringoutlet outletsales sales Prepayments Prepayments Membership Membershipsubscriptions subscriptions Total current assets Total current assets Commissions Commissions -ATM -ATM Property,Property, plant andplant equipment and equipment -Keno -Keno Investment property Investment -TAB -TAB property DeferredDeferred tax-Vending assets tax assets -Vending Intangibles Intangibles -Other -Other Investments Investments Entertainment Entertainmentand andpromotion promotion Other non-current assets Other non-current assets Investment Investmentproperty propertyrentals rentals Total non-current assets assets Total non-current Other Other revenue revenue Total assets Total Total Totalassets revenue revenuefrom fromoperations operations Liabilities Liabilities Other Otherincome income Trade and other payables Trade and other payables Gain Gain on on sale sale ofofasset asset ProvisionProvision for income tax for income tax loss Reversal Reversalofofimpairment impairment losson oninvestment investmentproperty property Borrowings Borrowings Employee benefits Employee benefits Loss Loss from from disposal disposalofofnon noncurrent currentasset asset Provisions Provisions Loss Lossfrom fromdisposal disposalofofnon noncurrent currentasset asset Total current liabilities Total current liabilities Write-off Write-off ofofproperty, property, plant plantand andequipment equipment Borrowings Borrowings Employee benefits benefits Employee Trade and otherand payables Trade other payables 55 Personnel Personnel expenses expenses Provisions Provisions InInAUD AUD Total non-current liabilities Total non-current liabilities Wages Wages and and salaries salaries Total liabilities Total liabilities Payroll Payrolltax tax Net assets Net assets Workers Workers compensation compensation

Note

2016 20162016 Note 2016 $

8 9 10 12

15 14

13 11 12

18 17 19

18 17 16 19

(Increase)/ (Increase)/decrease decreaseininemployee employeebenefits benefits Members' funds funds Members' Contributions Contributions totodefined definedcontribution contributionplans plans RetainedRetained profits profits employee Other Otherassociated associated employeeexpenses expenses Total members' funds funds Total members'

13,859,030 8,666,683 13,859,030 8,666,683 51,146,386 51,146,386 49,791,706 49,791,706 93,614 78,027 78,027 5,266,631 5,266,63193,6145,029,026 5,029,026 259,339 259,339230,781 230,781 9,247,373 9,247,373 8,312,447 8,312,447 569,473 569,473337,643 337,643 188,844 188,844 177,581 177,581 14,781,456 9,313,134 14,781,456 9,313,134 146,603 146,603 325,783 325,783 75,334,386 69,241,507 75,334,386 69,241,507 237,026 237,026 275,694 275,694 14,336,839 16,789,657 14,336,839 16,789,657 98,313 98,313 92,623 92,623 115,837 108,724 115,837 41,713 108,724 41,724 41,724 41,713 765,749 765,749505,538 505,538 24,456 24,456 24,377 24,377 27,676 28,742 934,235 934,23527,676 28,742 789,379 789,379 1,557 1,557 1,557 891,928 891,928 1,059,702 1,059,7021,557 90,582,044 86,675,725 90,582,044 86,675,725 72,135 72,135 48,597 48,597 105,363,500 95,988,859 105,363,500 95,988,859 68,295,654 68,295,654 65,968,628 65,968,628 4,218,712 3,714,565 4,218,712 3,714,565 -12,051,111 12,051,111 45,284 568,842 45,284 568,842 314,777 314,777 349,076 349,076 1,181,081 1,554,864 1,181,081 1,554,864 314,777 314,777 12,400,187 12,400,187 1,313,991 1,255,750 1,313,991 1,255,750 485,341 485,341371,563 371,563 (716,901) (716,901) (170,267) (170,267) 7,244,409 7,465,584 7,244,409 7,465,584 (450,000) (450,000) (450,000) (450,000)

(1,166,901) (1,166,901) (620,267) (620,267) 4,347,024 4,000,000 4,347,024 4,000,000 293,925 293,925320,730 320,730 126,883 126,883126,216 126,216 86,250 86,2502015 87,906 87,906 2016 2016 2015 4,854,082 4,534,852 4,854,082 4,534,852 13,567,237 13,567,237 12,597,551 12,597,551 12,098,491 12,000,436 12,098,491 12,000,436 748,790 748,790 676,063 676,063 93,265,009 83,988,423 93,265,009 83,988,423 211,947 211,947 214,681 214,681

2016 2016

InInAUD AUD

Dividend Dividendincome income Interest Interestincome income Finance Financeincome income

275 275 121,698 121,698 121,973 121,973

Interest Interestexpense expense (482,683) (482,683) Change ChangeininFinancial Financialassets assetsatatfair fairvalue valuethrough throughprofit profitororloss loss -(482,683) (482,683) Finance Financecosts costs The notes on pages 19 to 36 are an integral part of these financial statements. (360,710) (360,710) Net Netfinance financecosts costsrecognised recognisedininprofit profitororloss loss The notes onnotes pageson12pages to 29 12 aretoan of these financial statements. The 29integral are an part integral part of these financial statements.

59th Annual Report 2016

31,436 31,436 36,891 36,891 1,249,284 1,249,284 1,184,946 1,184,946 93,265,009 83,988,423 93,265,009 83,988,423 671,152 671,152 647,313 647,313 93,265,009 83,988,423 93,265,009 83,988,423 16,479,846 16,479,846 15,357,445 15,357,445

66 Finance Financeincome incomeand andfinance financecosts costs

2015 2015 2015 2015

Wentworthville Leagues Club Limited

2015 2015

1,255 1,255 711,208 711,208 712,463 712,463

(1,286,339) (1,286,339) (2,158) (2,158) (1,288,497) (1,288,497) (576,034) (576,034)

WENTWORTHVILLE LEAGUES CLUB LIMITED STATEMENT OF CHANGES IN MEMBERSâ&#x20AC;&#x2122; FUNDS For The Financial Year Ended 31 December 2016

Wentworthville Wentworthville Leagues Leagues Club Club Limited Limited Statement Statement of changes of changes in members' in members' funds funds

As atAs 31atDecember 31 December 20162016

General General funds funds

In AUD In AUD

Balance Balance at 1 January at 1 January 20152015

63,535,268 63,535,268

TotalTotal comprehensive comprehensive income income for the forperiod the period ProfitProfit for the foryear the year OtherOther comprehensive comprehensive income income TotalTotal comprehensive comprehensive profitprofit for the forperiod the period

20,453,155 20,453,155 20,453,155 20,453,155

Balance Balance at 31atDecember 31 December 20152015

83,988,423 83,988,423

Balance Balance at 1 January at 1 January 20162016

83,988,423 83,988,423

9,276,586 9,276,586 9,276,586 9,276,586 93,265,009 93,265,009

Balance Balance at 31atDecember 31 December 20162016

The notes on pages 19 to 36 are an integral part of these financial statements.

The notes The notes on pages on pages 12 to12 29toare 29an areintegral an integral part of part these of these financial financial statements. statements. Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED STATEMENT OF CASH FLOWS For The Financial Year Ended 31 December 2016

Wentworthville WentworthvilleLeagues LeaguesClub ClubLimited Limited Wentworthville Wentworthville Leagues Leagues Club Limited Club Limited Notes Notesto tothe thefinancial financialstatements statements(continued) (continued) Statement Statement cash of flows cash flows For Forthe the year yearof ended ended 31 31December December 2016 2016

For theFor yearthe ended year 31 ended December 31 December 2016 2016 44 Profit Profitfrom fromoperations operations In AUD InIn InAUD AUD AUD

Note

Cash flows Cashfrom flows operating from operating activities activities Revenue Revenue from from rendering rendering services services Cash receipts Cash receipts from customers from customers Revenue Revenue from from beverage beverage outlet outletsales sales Cash paid Cash to suppliers paid to suppliers and employees and employees Revenue Revenue from from catering catering outlet outlet sales sales Cash generated Cash generated from operations from operations Membership Membership subscriptions subscriptions Dividends Dividends receivedreceived Commissions Commissions Interest Interest paid andpaid other and finance other finance costs paid costs paid -ATM -ATM Income Income tax paid tax paid -Keno -Keno Net cash Net from cash operating from operating activities activities -TAB -TAB -Vending -Vending Cash flows Cash from flows investing from investing activities activities -Other -Other Proceeds Proceeds from sale from of property, sale of property, plant plant equipment and equipment Entertainment Entertainmentand andpromotion promotion and Acquisition Acquisition of investment of investment property property Investment Investmentproperty propertyrentals rentals Acquisition Acquisition ofrevenue property, of property, plant and plant equipment and equipment Other Other revenue InterestTotal Interest received received Totalrevenue revenuefrom fromoperations operations Acquisition Acquisition of gaming of gaming licenseslicenses Net cash Net flows cash (used flowsin)/from (used in)/from investing investing activities activities Other Other income income Gain Gainon onsale saleofofasset asset Cash flows Cashfrom flows from financing activities activities Reversal Reversal ofoffinancing impairment impairment loss losson on investment investmentproperty property Repayment Repayment of borrowings of borrowings Repayment Repayment of leases of leasesof Loss Loss from from disposal disposal ofnon noncurrent currentasset asset Net cash Net flows cash flows inused financing in financing activities activities Loss Loss from fromused disposal disposal ofofnon non current current asset asset Write-off Write-offofofproperty, property,plant plantand andequipment equipment Net increase Net increase in cash in and cash cash and equivalents cash equivalents Cash and Cash cash and equivalents cash equivalents at beginning at beginning of year of year Cash and Cash cash and equivalents cash equivalents at end of at year end of year 55 Personnel Personnelexpenses expenses InInAUD AUD

Wages Wagesand andsalaries salaries Payroll Payrolltax tax Workers Workerscompensation compensation (Increase)/ (Increase)/decrease decreaseininemployee employeebenefits benefits Contributions Contributionstotodefined definedcontribution contributionplans plans Other Otherassociated associatedemployee employeeexpenses expenses 66 Finance Financeincome incomeand andfinance financecosts costs InInAUD AUD

20162016 2016 2016 $

2015 2015 2015 2015 $

51,146,386 51,146,386 49,791,706 49,791,706 75,108,071 75,108,07172,463,258 72,463,258 5,266,631 5,266,631 5,029,026 5,029,026 (58,089,667) (58,089,667) (55,745,621) (55,745,621) 9,247,373 9,247,373 8,312,447 8,312,447 17,018,404 17,018,40416,717,637 16,717,637 188,844 188,844 177,581 177,581 275 275 1,255 1,255 (482,683) (482,683)(1,286,339) (1,286,339) 146,603 146,603 325,783 325,783 (962,765) (962,765) (1,844,809) (1,844,809) 237,026 237,026 275,694 275,694 15,573,231 15,573,231 13,587,744 13,587,744 98,313 98,313 92,623 92,623 41,724 41,724 41,713 41,713 24,456 24,456 24,377 24,377 20,400 20,400 15,776,322 15,776,322 934,235 934,235 789,379 789,379 (154,061) (154,061) 1,059,702 (93,402)(93,402) 891,928 891,928 1,059,702 (9,484,319) (9,484,319)(6,325,970) (6,325,970) 72,135 72,135 48,597 48,597 121,698 121,698 711,208 711,208 68,295,654 68,295,654 65,968,628 65,968,628 (250,000) (250,000) (9,746,282) (9,746,282) 10,068,158 10,068,158 -12,051,111 12,051,111 314,777 314,777 349,076 349,076 314,777 314,777 12,400,187 (19,275,000) -12,400,187 (19,275,000) (634,602) (634,602)(1,355,209) (1,355,209) (634,602) (634,602) (20,630,209) (20,630,209) (716,901) (716,901) (170,267) (170,267) (450,000) (450,000) (450,000) (450,000) 5,192,347 5,192,347 3,025,693 3,025,693 (1,166,901) (1,166,901) (620,267) (620,267) 8,666,683 8,666,683 5,640,990 5,640,990 13,859,030 13,859,030 8,666,683 8,666,683 2016 2016

13,567,237 13,567,237 748,790 748,790 211,947 211,947 31,436 31,436 1,249,284 1,249,284 671,152 671,152 16,479,846 16,479,846 2016 2016

2015 2015

12,597,551 12,597,551 676,063 676,063 214,681 214,681 36,891 36,891 1,184,946 1,184,946 647,313 647,313 15,357,445 15,357,445 2015 2015

Dividend Dividendincome income 275 275 1,255 1,255 Interest Interestincome income 121,698 121,698 711,208 711,208 Finance Financeincome income 121,973 121,973 712,463 712,463 The notes on pages 19 to 36 are an integral part of these financial statements. Interest Interestexpense expense (482,683) (482,683) (1,286,339) (1,286,339) Change ChangeininFinancial Financialassets assetsatatfair fairvalue valuethrough throughprofit profitororloss loss -(2,158) (2,158) (482,683) (482,683) (1,288,497) (1,288,497) Finance Financecosts costs (360,710) (360,710) (576,034) (576,034) Net Netfinance financecosts costsrecognised recognisedininprofit profitororloss loss 18 59th Annual Report 2016 Leagues Club Limited The notes Theonnotes pages on12 pages to 2912 are toan 29 integral are an integral part of these part offinancial theseWentworthville financial statements. statements.

Wentworthville Leagues Club Limited Notes to the financial statements

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

For the year ended 31 December 2016 1

Reporting entity Wentworthville Leagues Club Limited (the Company) is a company limited by guarantee incorporated and domiciled in Australia. The address of the Company's registered office is 50 Smith Street, Wentworthville, NSW, 2145. The financial statements of the Company are as at and for the year ended 31 December 2016. The Company is a not-for-profit entity and is primarily involved in the encouragement and promotion of the sport of Rugby League and to provide facilities and services to its members.

2 (a)

Basis of preparation Statement of compliance In the opinion of the directors, the Company is not publicly accountable. The financial statements are Tier 2 general purpose financial statements which have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements adopted by the Australian Accounting Standards Board and the Corporations Act 2001. These financial statements comply with Australian Accounting Standards – Reduced Disclosure Requirements. The financial statements were approved by the Board of Directors on 31 March 2017.

(b) Basis of measurement The financial statements have been prepared on the historical cost basis. (c)

Going concern The financial statements have been prepared on a going concern basis, which contemplates the continuity of normal business activities and realisation of assets and settlement of liabilities in the ordinary course of business.

(d) Functional and presentation currency These financial statements are presented in Australian dollars, which is the Company's functional currency. (e)

Use of estimates and judgements The preparation of financial statements in conformity with AASBs requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included in the following notes: • Note 13

Intangible assets

• Note 26

Contingencies

Wentworthville Leagues Club Limited

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS

Notes to the financial statements (continued)For The Financial Year Ended 31 December 2016

For the year ended 31 December 2016 3

Significant accounting policies The accounting policies set out below have been applied consistently to all periods presented in these financial statements.

(a) (i)

Financial instruments Non-derivative financial assets Financial assets are recognised initially on the date at which the Company becomes a party to the contractual provisions of the instrument. The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Company is recognised as a separate asset or liability. The Company has the following categories of non-derivative financial assets: cash and cash equivalents and trade and other receivables. Trade and other receivables Trade and other receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less any impairment losses (see note 3(g)). Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with maturities of three months or less from the acquisition date that are subject to an insignificant risk of changes in their fair value, and are used by the Company in the management of its short-term commitments.

(ii)

Non-derivative financial liabilities Financial liabilities are recognised initially on the date at which the Company becomes a party to the contractual provisions of the instrument. The Company derecognises a financial liability when its contractual obligations are discharged, cancelled or expired. Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

The Company has the following categories of non-derivative financial liabilities: loans and borrowings and trade and other payables. Loans and borrowings and trade and other payables are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortised cost using the effective interest rate method.

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED

Wentworthville Leagues Club Limited

NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes to the financial statements (continued)

For the year ended 31 December 2016 3

Significant accounting policies

(b) Property, plant and equipment (i) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. The gain or loss on disposal of an item of property, plant and equipment is determined by comparing the proceeds from disposal with the carrying amount of the property, plant and equipment and is recognised net in profit or loss.

(ii)

Reclassification to investment property When the use of a property is held either to earn rental income or for capital appreciation or for both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes, the property is reclassified as investment property.

(iii) Subsequent costs Subsequent expenditure is capitalised only when it is probable that the future economic benefits associated with the expenditure will flow to the Company. Ongoing repairs and maintenance are expensed as incurred. (iv) Depreciation Items of property, plant and equipment are depreciated from the date that they are installed and are ready for use.

Depreciation is calculated to write off the cost of property, plant and equipment less their estimated residual values using the straight-line basis over their estimated useful lives. Depreciation is generally recognised in profit or loss, unless the amount is included in the carrying amount of another asset. Land is not depreciated. The estimated useful lives for the current and comparative years of significant items of property, plant and equipment are as follows: 40 years • Buildings including investment properties 11 years • Leasehold improvements 5 - 10 years • Plant and equipment • Equipment under finance lease Furniture, 3 years 5 - 10 years • fixtures and fittings 3 - 5 years • Office machines 8 years • Motor vehicles Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED

Wentworthville Leagues Club Limited

NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes to the financial statements (continued)

For the year ended 31 December 2016 3

Significant accounting policies

(c)

Intangible assets Poker machine entitlements Poker machine entitlements that are acquired by the Club, which have infinite useful lives, are measured at cost less accumulated impairment losses. Subsequent expenditure Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure is recognised in profit or loss as incurred. Impairment Poker machine entitlements have indefinite useful lives as they have no expiry date. Accordingly, such intangible assets are not amortised but are systematically tested for impairment at each reporting date (see note 3(g)).

(d) Non-current assets held for sale Non-current assets, that are expected to be recovered primarily through sale rather than through continuing use, are classified as held for sale. Immediately before classification as held for sale, the assets are remeasured in accordance with the Club's accounting policies. Thereafter generally the assets are measured at the lower of their carrying amount and fair value less cost to sell. Impairment losses on initial classification as held for sale and subsequent gains or losses on remeasurement are recognised in profit or loss. Gains are not recognised in excess of any cumulative impairment loss. Property, plant and equipment once classified as held for sale are not depreciated. (e)

Investment property Investment property is property held either to earn rental income or for capital appreciation or for both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes. Investment property is measured at cost less accumulated depreciation and accumulated impairment losses. Depreciation is recognised on a straight-line basis over the estimated useful lives of each component of investment property. Cost includes expenditure that is directly attributable to the acquisition of the investment property. Subsequent cost is recognised in the carrying amount of the investment property. When the use of a property changes such that it is reclassified as property, plant and equipment, its carrying amount is transferred across on date of reclassification.

(f)

Inventories Inventories are measured at the lower of cost and net realisable value. The cost of inventories is based on the firstin first-out principle, and includes expenditure incurred in acquiring the inventories and other costs incurred in bringing them to their existing location and condition. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and estimated costs necessary to make the sale.

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED

Wentworthville Leagues Club Limited

NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes to the financial statements (continued)

For the year ended 31 December 2016 3

Significant accounting policies (continued)

(g) Impairment (i) Non-derivative financial assets A financial asset is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset, and that the loss event(s) had an impact on the estimated future cash flows of that asset that can be estimated reliably. Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Company on terms that the Company would not consider otherwise, indications that a debtor or issuer will enter bankruptcy, or economic conditions that correlate with defaults. The Company considers evidence of impairment for financial assets measured at amortised cost (loans and receivables) at both a specific asset and collective level. All individually significant assets are assessed for specific impairment. Those found not to be specifically impaired are then collectively assessed for any impairment that has been incurred but not yet identified. Assets that are not individually significant are collectively assessed for impairment by grouping together assets with similar risk characteristics. In assessing collective impairment the Company uses historical trends of the probability of default, timing of recoveries and the amount of loss incurred, adjusted for any judgement by management as to whether current economic and credit conditions are such that the actual losses are likely to be greater or less than suggested by historical trends. An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the assetâ&#x20AC;&#x2122;s original effective interest rate. Losses are recognised in profit or loss and reflected in an allowance account against the non-derivative financial assets. Interest on the impaired asset continues to be recognised through the unwinding of the discount. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss. (ii)

Non-financial assets The carrying amounts of the Companyâ&#x20AC;&#x2122;s non-financial assets, other than inventories and investment property, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the assetâ&#x20AC;&#x2122;s recoverable amount is estimated. An impairment loss is recognised if the carrying amount of an asset or its related cash-generating unit (CGU) exceeds its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Depreciated replacement cost is used to determine value in use for property, plant and equipment. Depreciated replacement cost is the current replacement cost of the item less, where applicable, accumulated depreciation to date, calculated on the basis of such cost. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. For investment property, value in use calculated using the discounted cashflows of future rentals is used. Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of CGUs are allocated to reduce the carrying amounts of the assets in the unit (group of units) on a pro rata basis. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED

Wentworthville Leagues Club Limited

NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes to the financial statements (continued)

For the year ended 31 December 2016

Significant accounting policies (continued)

(h) Employee benefits (i) Defined contribution plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognised as an employee benefit expense in profit or loss in the periods during which services are rendered by employees. (ii)

Other long-term employee benefits The Companyâ&#x20AC;&#x2122;s net obligation in respect of long-term employee benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods plus related on-costs; that benefit is discounted to determine its present value, and the fair value of any related assets is deducted. The discount rate is the yield at the reporting date on government bonds that have maturity dates approximating the terms of the Companyâ&#x20AC;&#x2122;s obligations.

(iii) Short-term benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. (i)

Provisions A provision is recognised if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

(j) (i)

Revenue Goods sold and services rendered Revenue from the sale of goods comprises revenue earned from the provision of food, beverage and other goods. It is measured at the fair value of the consideration received or receivable and is recognised in profit or loss when the significant risks and rewards of ownership have been transferred to the buyer. Revenue from services rendered comprises revenue from hotel, fitness and gaming facilities together with other services to members and patrons of the Company. It is measured at the fair value of the consideration received or receivable and is recognised in profit or loss as the services are provided. No revenue is recognised if there are significant uncertainties regarding recovery of the consideration due, the costs incurred or to be incurred cannot be measured reliably, there is a risk of return of the goods or there is continuing management involvement with the goods.

(ii)

Rental income Rental income is recognised in profit or loss on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income, over the term of the lease.

(iii) Dividend and interest revenue Dividend revenue is recognised on a receivable basis. Interest revenue is recognised on a time proportionate basis that takes into account the effective yield on the financial asset.

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS

For The Financial Year Ended 31 December 2016 Notes to the financial statements (continued)

For the year ended 31 December 2016 3

Significant accounting policies (continued)

(k)

Lease payments Leases in terms of which the Company assumes substantially all the risks and rewards of ownership are classified as finance leases. Other leases are operating leases and the leased assets are not recognised in the Company's statement of financial position. Payments made under operating leases are recognised in profit or loss on a straight- line basis over the term of the lease. Lease incentives received are recognised as an integral part of the total lease expense, over the term of the lease.

(l)

Finance income Finance income comprises interest income on funds invested. Interest income is recognised as it accrues in profit or loss, using the effective interest method. Finance cost on loans and borrowings is recognised in profit or loss using the effective interest

(m) Income tax Tax expense comprises current and deferred tax. Current tax and deferred tax is recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. (i)

Current tax Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Current tax payable also includes any tax liability arising from the declaration of dividends.

(ii)

Deferred tax Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognised for temporary differences on the initial recognition of assets or liabilities in a transaction and that affects neither accounting nor taxable profit or loss. The measurement of deferred tax reflects the tax consequences that could follow the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously.

. A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. The Income Tax Assessment Act 1997 (amended) provides that under the concept of mutuality, clubs are only liable for income tax on income derived from non-members and from outside entities.

Wentworthville Leagues Club Limited

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS

For The Financial Year Ended 31 December 2016 Notes to the financial statements (continued)

For the year ended 31 December 2016 3

Significant accounting policies (continued)

(n) Goods and services tax Revenue, expenses and assets are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the taxation authority. In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of the expense. Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to the Australian Taxation Office (ATO) is included as a current asset or liability in the statement of financial position. Cash flows are included in the statement of cash flows on a gross basis. The GST components of cash flows arising from investing and financing activities which are recoverable from, or payable to, the ATO are classified as operating cash flows.

59th Annual Report 2016

Wentworthville Leagues Club Limited

Wentworthville Leagues Club Limited Wentworthville Wentworthville Leagues Leagues Club Club Limited Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes the financial statements (continued) Notes Notes totothe to financial the financial statements statements (continued) (continued)

For the year ended December 2016 For the For year the ended year ended 3131 December 31 December 2016 2016 from operations 4 4 Profit 4Profit Profit from from operations operations In AUD In AUD In AUD

Revenue from rendering services Revenue Revenue from rendering from rendering services services Revenue from beverage outlet sales Revenue Revenue from beverage from beverage outlet outlet sales sales Revenue from catering outlet sales Revenue Revenue from catering from catering outlet outlet sales sales Membership subscriptions Membership Membership subscriptions subscriptions Commissions Commissions Commissions -ATM -ATM -ATM -Keno -Keno -Keno -TAB -TAB -TAB -Vending -Vending -Vending -Other -Other -Other Entertainment and promotion Entertainment Entertainment and promotion and promotion Investment property rentals Investment Investment property property rentals rentals Other revenue Other Other revenue revenue Total revenue from operations Total Total revenue revenue from from operations operations Other income Other Other income income Gain on sale of asset Gain on sale asset Gain onofsale of asset Reversal impairment loss on investment property Reversal Reversal of of impairment of impairment loss on loss investment on investment property property Loss from disposal non current asset Loss Loss from from disposal disposal ofof non ofcurrent non current asset asset Loss from disposal of non current asset Loss from of nonofcurrent asset asset Loss disposal from disposal non current Write-off property, plant and equipment Write-off Write-off of of property, of property, plant and plant equipment and equipment

expenses 5 5 Personnel 5Personnel Personnel expenses expenses In AUD In AUD In AUD

Wages and salaries Wages Wages and salaries and salaries Payroll Payroll Payroll taxtax tax Workers compensation Workers Workers compensation compensation (Increase)/ decrease employee benefits (Increase)/ (Increase)/ decrease decrease in in employee in employee benefits benefits Contributions defined contribution plans Contributions Contributions to to defined to defined contribution contribution plans plans Other associated employee expenses Other Other associated associated employee employee expenses expenses

income and finance costs 6 6 Finance 6Finance Finance income income and finance and finance costs costs In AUD In AUD In AUD

Dividend income Dividend Dividend income income Interest income Interest Interest income income Finance income Finance Finance income income Interest expense Interest Interest expense expense Change Financial assets fair value through profit loss Change Change in in Financial in Financial assets assets at at fair at value fair value through through profit profit oror loss or loss Finance costs Finance Finance costs costs Net finance costs recognised profit loss Net finance Net finance costs costs recognised recognised in in profit in profit oror loss or loss

Wentworthville Leagues Club Limited

20162016 2016 $

20152015 2015 $

51,146,386 49,791,706 51,146,386 51,146,38649,791,706 49,791,706 5,266,631 5,029,026 5,266,631 5,029,026 5,029,026 5,266,631 9,247,373 8,312,447 9,247,373 8,312,447 8,312,447 9,247,373 188,844 177,581 188,844 188,844 177,581 177,581 146,603 325,783 146,603 146,603 325,783 325,783 237,026 275,694 237,026 237,026 275,694 275,694 98,313 92,623 98,313 98,313 92,623 92,623 41,724 41,713 41,724 41,724 41,713 41,713 24,456 24,377 24,456 24,456 24,377 24,377 934,235 789,379 934,235 934,235 789,379 789,379 891,928 1,059,702 891,928 1,059,702 1,059,702 891,928 72,135 48,597 72,135 48,597 72,135 48,597 68,295,654 65,968,628 68,295,654 68,295,65465,968,628 65,968,628 12,051,111 - - -12,051,111 12,051,111 314,777 349,076 314,777 314,777 349,076 349,076 314,777 12,400,187 314,777 314,77712,400,187 12,400,187 (716,901) (170,267) (716,901) (716,901) (170,267) (170,267) (450,000) (450,000) (450,000) (450,000) (450,000) (450,000) (1,166,901) (620,267) (1,166,901) (1,166,901) (620,267) (620,267)

20162016 2016

20152015 2015

20162016 2016

20152015 2015

13,567,237 12,597,551 13,567,237 13,567,23712,597,551 12,597,551 748,790 676,063 748,790 748,790 676,063 676,063 211,947 214,681 211,947 211,947 214,681 214,681 31,436 36,891 31,436 31,436 36,891 36,891 1,249,284 1,184,946 1,249,284 1,184,946 1,184,946 1,249,284 671,152 647,313 671,152 647,313 647,313 671,152 16,479,846 15,357,445 16,479,846 16,479,84615,357,445 15,357,445

275275 275 121,698 121,698 121,698 121,973 121,973 121,973

1,255 1,255 1,255 711,208 711,208 711,208 712,463 712,463 712,463

(482,683) (1,286,339) (482,683) (482,683)(1,286,339) (1,286,339) (2,158) (2,158) - - (2,158) (482,683) (1,288,497) (482,683) (482,683)(1,288,497) (1,288,497) (360,710) (576,034) (360,710) (360,710) (576,034) (576,034)

59th Annual Report 2016

Wentworthville Wentworthville Leagues ClubLimited Limited WentworthvilleLeagues Leagues Club Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes Notes to the financial statements(continued) (continued) (continued) Notesto tothe thefinancial financial statements statements

For the yearended ended31 December 2016 For For the the year year ended 31December December2016 2016 Tax expense 447 Profit Profit from fromoperations operations AUD InInIn AUD AUD

2016 2016 2016 $

2015 2015 2015 $

2016

2015

Current tax expense Revenue Revenue fromrendering rendering services services 51,146,386 51,146,386 49,791,706 49,791,706 Current from expense in respect of the current year 439,207 711,062 Revenue Revenue from from beverage beverage outlet outlet sales sales 5,266,631 5,266,631 5,029,026 5,029,026 Movement in deferred tax asset (7,113) (108,724) Revenue Revenue from fromcatering cateringoutlet outlet sales 9,247,373 9,247,373 8,312,447 8,312,447 Under/ (over) provided in priorsales years 1,844,809 432,094 Membership Membership subscriptions subscriptions 188,844 188,844 2,447,147 177,581 177,581 Income tax expense Commissions Commissions Numerical -ATM -ATM reconciliation between tax expense and pre-tax accounting profit 146,603 146,603 325,783 325,783 The Income Tax Assessment Act 1997 (amended) provides that under the concept of237,026 mutuality, registered -Keno -Keno 237,026 275,694 275,694 clubs are only liable for income tax on income derived from non-members and from outside entities. -TAB -TAB 98,313 98,313 92,623 92,623 -Vending -Vending 41,724 41,724 41,713 41,713 The amount set aside for income tax in the statement of profit or loss and other comprehensive income has -Other -Other 24,456 24,456 24,377 24,377 been calculated as follows: Entertainment Entertainmentand andpromotion promotion 934,235 934,235 789,379 789,379 2016 2015 In AUD Investment Investment property propertyrentals rentals 891,928 891,928 1,059,702 1,059,702 Other Otherrevenue revenue 72,135 72,135 48,597 48,597 Profit from operations 9,708,680 22,900,302 68,295,654 68,295,654 65,968,628 65,968,628 Total Totalrevenue revenuefrom fromoperations operations Income tax expense calculated at 30% 2,912,604 6,870,091 Effect of revenue that is exempt from taxation (13,442,684) (12,347,358) Other Otherincome income Effect expenses that are not deductible in determining taxable profit 11,490,492 - 8,409,311 Gain Gain on onof sale sale ofofasset asset 12,051,111 12,051,111 Effect of mutuality (521,190) (2,220,982) Reversal Reversalofofimpairment impairmentloss losson oninvestment investmentproperty property 314,777 314,777 349,076 349,076 Movement in deferred tax asset (7,113) (108,724) 314,777 314,777 12,400,187 12,400,187 Under/ (over) provided in prior years 1,844,809 Loss Loss from fromdisposal disposalofofnon noncurrent currentasset asset 432,109 2,447,147 Income tax expense recognised in profit or loss Loss Lossfrom fromdisposal disposalofofnon noncurrent currentasset asset (716,901) (716,901) (170,267) (170,267) Write-off Write-offofofproperty, property,plant plantand andequipment equipment (450,000) (450,000) (450,000) (450,000) 8 Cash and cash equivalents (1,166,901) (1,166,901) (620,267) (620,267) In AUD

Cash at bank 55 Personnel Personnel expenses expenses Cash at call InInAUD AUD Cash floats Wages Wages and andcash salaries salaries Cash and equivalents Payroll Payrolltax tax Workers compensation compensation 9 Workers Trade and other receivables In AUD (Increase)/ (Increase)/ decrease decreaseininemployee employeebenefits benefits Contributions Contributionstotodefined definedcontribution contributionplans plans Trade receivables Other Other associated associated employee employeeexpenses expenses Sundry debtors Provision for doubtful debts

1,103,041 8,011,171 2016 2016 4,744,818 13,567,237 13,567,237 13,859,030

66 Finance Financeincome incomeand andfinance financecosts costs 10InInAUD Inventories AUD In AUD income Dividend Dividend income Interest Interestincome income Finished goods - at cost Finance Financeincome income 11Interest Investments Interest expense expense

59th Annual Report 2016

748,790 748,790 211,947 211,947 2016 31,436 31,436 1,249,284 1,249,284 93,614 671,152 671,152 14,570 16,479,846 16,479,846 (14,570) 93,614

676,063 676,063 214,681 214,681 2015 36,891 36,891 1,184,946 1,184,946 78,027 647,313 647,313 14,570 15,357,445 15,357,445 (14,570) 78,027

2016 2016 2016 275 275

2015 2015 2015 1,255 1,255

259,339 121,973 121,973 259,339

230,781 712,463 712,463 230,781

121,698 121,698

In AUD ininFinancial Change Change Financialassets assetsatatfair fairvalue valuethrough throughprofit profitororloss loss Finance Finance costs Sharescosts in listed companies Net Netfinance financecosts costsrecognised recognisedininprofit profitororloss loss

1,817,054 4,224,012 2015 2015 2,625,617 12,597,551 12,597,551 8,666,683

(482,683) (482,683) -(482,683) (482,683) 27,676 (360,710) (360,710) 27,676

2016

Wentworthville Leagues Club Limited

711,208 711,208

(1,286,339) (1,286,339)

2015 (2,158) (2,158)

(1,288,497) (1,288,497) 28,742 (576,034) (576,034) 28,742

Wentworthville Wentworthville Leagues ClubLimited Limited WentworthvilleLeagues LeaguesClub Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Notes Notes to the financial statements(continued) (continued) Notesto tothe thefinancial financialstatements statements (continued)

For For the the year year ended ended 31 December 2016 For the year ended31 31December December2016 2016 44 12Profit Profit from from operations operations Other assets InInAUD InAUD AUD

2016 2016 2016 $

2015 2015 2015 $

Currentfrom Revenue Revenue fromrendering renderingservices services Prepayments Revenue Revenue from frombeverage beverageoutlet outletsales sales Revenue Revenuefrom fromcatering cateringoutlet outletsales sales Non-current Membership Membership subscriptions subscriptions TAB deposits Commissions Commissions

51,146,386 51,146,386 569,473 5,266,631 5,266,631 569,473 9,247,373 9,247,373 188,844 188,844 1,557 1,557 146,603 146,603

49,791,706 49,791,706 337,643 5,029,026 5,029,026 337,643 8,312,447 8,312,447 177,581 177,581 1,557 1,557 325,783 325,783

-ATM -ATM -Keno -Keno 13 Intangible assets -TAB -TAB In-Vending AUD -Vending -Other -Other Balance at the beginning of the year Entertainment Entertainment and and promotion promotion Acquisitions Investment Investment property propertyrentals rentals Balance at the end of the year Other Otherrevenue revenue Total Totalrevenue revenuefrom fromoperations operations

237,026 237,026 98,313 98,313 201641,724 41,724 24,456 24,456 505,538 934,235 934,235 260,211 891,928 891,928 765,749 72,135 72,135 68,295,654 68,295,654

275,694 275,694 92,623 92,623 2015 41,713 41,713 24,377 24,377 505,538 789,379 789,379 1,059,702 1,059,702 505,538 48,597 48,597 65,968,628 65,968,628

Poker machine entitlements are stated at cost less accumulated impairment losses. Poker machine Other Other income incomehave an indefinite useful life given they have no expiry date, and accordingly are not amortised entitlements Gain Gain onsale sale ofof asset asset annually for impairment. -12,051,111 12,051,111 buton are to be assessed Reversal Reversalofofimpairment impairmentloss losson oninvestment investmentproperty property 314,777 314,777 349,076 349,076 14 Investment property 314,777 314,777 12,400,187 12,400,187 2016 2015 In AUD Loss Loss from fromdisposal disposalofofnon noncurrent currentasset asset Loss Lossfrom fromdisposal disposalofofnon noncurrent currentasset asset (716,901) (716,901) (170,267) (170,267) Cost ofofproperty, Write-off Write-off property,plant plantand andequipment equipment (450,000) (450,000) (450,000) (450,000) Balance at the beginning of the financial year 17,106,248 17,758,375 (1,166,901) (1,166,901) (620,267) (620,267) Additions 154,061 93,402 Reversal of impairment losses previously recognised in profit and loss 314,777 349,076 Transfer to property, plant and equipment (2,421,018) (1,009,090) 55 Personnel Personnel expenses expenses Disposals (524,858) (85,515) 2016 2016 2015 2015 InInAUD AUD Balance at the end of the financial year 14,629,210 17,106,248 Wages Wagesand andsalaries salaries 13,567,237 13,567,237 12,597,551 12,597,551 Payroll Payroll tax tax 748,790 748,790 676,063 676,063 Accumulated depreciation Workers Workers compensation compensation 211,947 211,947 214,681 214,681 Balance at the beginning of the financial year 316,591 361,799 (Increase)/ (Increase)/ decrease decrease in in employee employee benefits benefits 31,436 31,436 36,891 36,891 Depreciation 57,640 58,996 Contributions Contributions totodefined defined contribution contribution plans plans 1,249,284 1,249,284 1,184,946 1,184,946 Transfer to property, plant and equipment (18,920) Other Other associated associatedemployee employeeexpenses expenses 671,152 671,152 647,313 647,313 Disposals (81,860) (85,284) 16,479,846 16,479,846 15,357,445 15,357,445 Balance at the end of the financial year 292,371 316,591

66 Finance Finance income income and and financecosts costs Net book value at thefinance beginning of the financial year InInAUD AUD

16,789,657 2016 2016

17,396,576 2015 2015

Dividend Dividend income income 275 275 16,789,657 1,255 1,255 Net book value at the end of the financial year 14,336,839 Interest Interestincome income 121,698 121,698 711,208 711,208 Impairment losses and recoveries during the period relate to write-downs and recoveries of investment Finance Finance income income 121,973 121,973 712,463 712,463 properties to recoverable value based upon both assessments of valuations and capitalisation of rental revenue. The fair value assessment of residential investment properties was undertaken as follows: Interest Interestexpense expense (482,683) (482,683) (1,286,339) (1,286,339) Change Change in in Financial Financial assets assets at at fair fair value value through through profit profit or or loss loss (2,158) (i) The latest independent valuations of the Companyâ&#x20AC;&#x2122;s investment property was carried out as at 18 (2,158) (482,683) (482,683) (1,288,497) (1,288,497) Finance Finance costs costs October 2016 by Global Valuation Services Pty Ltd (Registered Valuer No. 024135). The open market value (360,710) (360,710) (576,034) (576,034) Net Net finance costs costsrecognised recognised ininprofit profitororloss loss forfinance these properties was $40,510,000.

Wentworthville Leagues Club Limited

59th Annual Report 2016

15 Property, plant and equipment

Leasehold improvements Leasehold

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

NOTES TO THE FINANCIAL STATEMENTS

For The Financial Year Ended 31 December 2016

59th Annual Report 2016

Wentworthville Leagues Club Limited

Freehold land

The fair value assessment of the freehold land and buildings was carried out as at 16 October 2016 by Global Valuations Services Pty Limited (Registered valuer no. 024135) of $54,680,000 on the basis of open market for existing use. As land, building and improvements are recorded at cost, the valuation has not been brought to account.

In AUD

Furniture, Capital fixtures and work in Plant and Office Motor Freehold Furniture, 15 Property, plant and equipment fittings progress equipment machines vehicles Buildings Total land & Plant and fixtures and Office Motor Capital work Cost Buildings improvements equipment fittings machines vehicles in progress Total In AUD Balance at 1 January 2014 10,671,304 Freehold 36,194,153 419,401 26,850,374 Furniture, 16,922,001 1,494,684 118,633 5,280,800 97,951,350 Cost $ $ $ $ $ $ 580 $ $ Additions - land 2,665,084 154,311 2,586,986 688,530 94,783 218,917 6,409,191 & Leasehold and fixtures and Office Motor work Balance at 1 January 2016 48,579,098 2,892,242 Plant 29,021,375 16,434,651 1,627,770 86,647 Capital 2,435,770 101,077,552 Disposals - Buildings -improvements - equipment (40,320) (2,899) (38,320) (114,105) (32,566) in progress Total Additions 11,962 3,858,824 fittings 431,816 machines 194,526 vehicles 48,827 5,546,206 10,092,161 Transfers 1,118,675 2,326,622 (3,466,208) (20,911) Cost Disposals (5,400) - (2,112,526) (39,349) (2,157,275) Reclassification to asset held for sale (3,435,133) (569,105) (4,004,238) Balance at 1 January 2016 48,579,098 2,892,242 - 29,021,375 86,647 2,435,770 Transfers 762,648 31,630 16,434,651 38,248 1,627,770 (832,526) 101,077,552 Reclassification from investment property 198,001 - 3,858,824 - 194,526 198,001 Additions 11,962 431,816 48,827 5,546,206 10,092,161 Transfers from investment property 2,421,018 2,421,018 Balance at 31 December 2014 7,434,172 39,408,807 2,900,334 29,397,040 17,607,632 1,551,147 86,647 2,033,509 100,419,288 Disposals (5,400) (2,112,526) (39,349) (2,157,275) Reclassification to asset held for sale Transfers 762,648 -31,630 38,248 --(832,526) Write off (450,000) (450,000) Depreciation Transfers from property 2,421,018 2,421,018 Balance at 31 investment December 2016 51,769,326 2,892,242 30,799,303 16,904,715 1,822,296 96,125 6,699,450 110,983,456 Balance at 1 January 2014 6,800,224 360,173 14,037,877 4,983,696 1,106,973 47,707 27,336,650 Reclassification to asset held for sale -Depreciation for the year 949,143 124,030 3,186,989 837,602 174,650 17,827 5,290,241 (104,038) Write off (450,000) (450,000) Depreciation Disposals - 51,769,326 (15,456) (80) (21,715) (32,566) 6,699,450(69,817) Balance December 2016 2,892,242 96,125 110,983,456 Balanceatat31 1 January 2016 8,602,060 626,473- 30,799,303 16,233,782- 16,904,715 5,167,008- 1,822,296 1,155,31851,402-31,836,044 Reclassification to asset held for sale (278,613) (278,613) Depreciation the year 2014 1,027,160 146,219 3,349,249 963,692 170,161 19,516 -5,675,997 Balance at 31for December 7,470,754 484,203 17,209,410 5,821,218 1,259,908 32,968 32,278,461 Depreciation Disposals (1,839,651) (23,320) (1,862,971) Balance at 1from January 2016 property 8,602,060626,473 - 16,233,7825,167,008- 1,155,318 51,402 -31,836,044Transfers investment Carrying amounts Depreciation for the year held for sale 1,027,160146,219 3,349,249963,692170,161 19,516 -5,675,997 Reclassification to asset At 1 January 2014 10,671,304 29,393,929 59,228 12,812,497 11,938,305 387,711 70,926 5,280,800 70,614,701Disposals (1,839,651) (23,320) (1,862,971) Balance at 31 December 2016 9,629,220 772,692 17,743,380 6,130,700 1,325,479 47,598 35,649,070 At 31 December 2014 7,434,172 31,938,053 2,416,131 12,187,630 11,786,414 291,239 53,679 2,033,509 68,140,827 Transfers from investment property Reclassification to asset held for sale Carrying amounts The fair value assessment of the freehold land and buildings was carried out as at 5 November 2014 by Global Valuations Services Pty Limited (Registered valuer no. 024135) (84,087) of Balance at 31 2016 December 2016 9,629,220 772,692 17,743,380 6,130,700 1,325,479 47,598 35,649,070 At 1 January 39,977,038 12,787,593 11,267,642 472,452 35,245 2,435,770 $52,450,000 on the basis of open market for existing use resulting in building and2,265,768 improvements of $46,450,000 and a valuation of land of $6,000,000. As land, building69,241,507 and At 31 December 2,119,549 13,055,923 10,774,014 496,817 48,527 6,699,450 75,334,386 improvements are2016 recorded at cost, the valuation has not been42,140,106 brought to account. Carrying amounts AtThe 1 January 2016 11,267,642 472,452 35,245 2,435,770 69,241,507 fair value assessment of the freehold land and buildings 39,977,038 was carried out as2,265,768 at 16 October12,787,593 2016 by Global Valuations Services Pty Limited (Registered valuer no. 024135) of At$54,680,000 31 December 2016 42,140,106 2,119,549 13,055,923 10,774,014 496,817 48,527 6,699,450 on the basis of open market for existing use. As land, building and improvements are recorded at cost, the valuation has not been brought to account. 75,334,386

In AUD For the year ended 31 December 2016

Notes to theplant financial statements (continued) 15 Property, and equipment

Wentworthville Leagues Club Limited Wentworthville Leagues Club Limited Notes to the financial statements (continued) For the year ended 31 December 2014 Notes to the financial statements (continued) Wentworthville Leagues Club Limited For the year ended 31 December 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED

Wentworthville Leagues Club Limited WENTWORTHVILLE LEAGUES CLUB LIMITED Wentworthville Leagues Club Limited NOTES TO THE FINANCIAL STATEMENTS Notes to the financial statements (continued) For The Financial Year Ended 31 December 2016 Notes to the financial statements (continued) For the year ended 31 December 2016

For the year ended ended 31 31 December December 2015 2016 16 assets held for sale 4 16Non-current Profit Tradefrom and operations other payables In AUD In AUD

2015 2016 2016 $ $

2014 2015 2015 $ $

Balance atfrom 1 January 3,725,625 Revenue rendering services 51,146,386 49,791,706 Current Transfer from property, plant and equipment 3,725,625 Revenue from beverage outlet sales 5,266,631 5,029,026 Trade payables 2,231,094 1,680,587 Sale asset for sale (3,725,625) Revenue fromheld catering outlet sales 9,247,373 8,312,447 GSTofpayable 286,633 344,472 Balance at 31 December 3,725,625 Membership subscriptions 188,844 177,581 Other payables 340,630 308,075 Commissions Accruals 1,224,199 1,252,059 InMembers' May 2014subscriptions a sales contract to purchase 31-37B Garfield Street, Wentworthville136,156 and 7 Mildred Street -ATM 146,603 325,783 in advance 129,372 Wentworthville by Universal Property Group Pty Ltd was entered, and subsequently $12,051,111 profit was -Keno 237,026 275,694 4,218,712 3,714,565 realised. Refer to note 4. -TAB 98,313 92,623 Non-Current -Vending 41,724 41,713 Members' subscriptions in advance 126,883 126,216 -Other 24,456 24,377 126,883 126,216 17 Trade and other payables Entertainment and promotion 934,235 789,379 2015 2014 In AUD 17Investment Employeeproperty benefitsrentals 891,928 1,059,702 In AUD Other revenue 2016 72,135 2015 48,597 Current 68,295,654 65,968,628 Total revenue from operations Trade payables 1,680,587 1,528,946 Current GST payable 344,472 307,547 Liability for annual leave 902,664 911,758 Other income Other payables 308,075 302,600 Liability for long service leave 411,327 343,992 Gain on sale of asset 12,051,111 Accruals 1,252,059 2,558,266 1,313,991 1,255,750 Reversal of impairment loss on investment property 314,777 349,076 Members' subscriptions in advance 129,372 115,859 Non-current 314,777 12,400,187 3,714,565 4,813,218 Liability for long service leave 293,925 320,730 Loss from disposal of non current asset Non-Current 293,925 320,730 Loss from disposal of non current asset (716,901) (170,267) 18Members' Borrowings subscriptions in advance 126,216 119,936 Write-off of property, plant and equipment (450,000) (450,000) 2016 2015 In AUD 126,216 119,936 (1,166,901) (620,267) Current benefits 18 Employee In Bills AUD payable 5 Personnel Equipmentexpenses loan In AUD

Current Wages and salaries Non-Current Liability for annual leave Payroll tax Bills payable Liability for long service leave Workers compensation Equipment loan (Increase)/ decrease in employee benefits Non-current Contributions to defined contribution plans Liability for annual leave Other associated employee expenses Liability for long service leave 19 Borrowings 6 Finance income and finance costs In AUD In AUD

Dividend income Current Interest income Bills payable Finance income Equipment loan Interest expense Non-Current Change in Financial assets at fair value through profit or loss Finance costs Bills payable Net finance costs recognised in profit or loss Equipment loan

Wentworthville Leagues Club Limited

1,000,000 2015 181,081 2016 1,181,081

13,567,237 659,171 748,790 4,000,000 343,992 211,947 347,024 1,003,163 31,436 4,347,024 1,249,284 252,587 671,152 320,730 16,479,846 573,317 2015 2016

275 121,698 1,000,000 121,973 554,864 1,554,864 (482,683)

(482,683) 4,000,000 (360,710) 4,000,000

1,000,000 2014 554,864 2015 1,554,864

12,597,551 681,282 676,063 4,000,000 319,985 214,681 1,001,267 36,891 4,000,000 1,184,946 209,344 647,313 328,978 15,357,445 538,322 2014 2015

1,255 711,208 1,000,000 712,463 1,355,210 2,355,210 (1,286,339)

(2,158) (1,288,497) 23,275,000 (576,034) 554,863 23,829,863

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS

For The Financial Year Ended 31 December 2016 Notes to the financial statements (continued)

Notes the 31 financial statements For the yearto 2016 ended December 2015 For the year ended 31 December 2016

(continued)

19 Profit Borrowings (continued) 4 from operations

18 Borrowings (continued)

2016 2015

In AUD

2016 $ $

In AUD

2015 2014

2015 $ $

Revenue rendering 51,146,386 49,791,706 The club from has access to services the following lines of credit: The club has access to the following lines of credit: Revenue from beverage outlet sales 5,266,631 5,029,026 Bank overdraft 700,000 700,000 Bank overdraft 700,000 700,000 Revenue from catering outlet sales 9,247,373 8,312,447 Bill discount facility 10,000,000 10,000,000 28,250,000 Bill discount facility 10,000,000 Membership subscriptions 188,844 177,581 Business cards 40,000 40,000 Business cards 40,000 40,000 Commissions Contingent liabilities 439,938 439,938 Contingent liabilities 439,938 439,938 -ATM 146,603 4,160,000 325,783 Finance lease andand equipment 4,160,000 4,160,000 Finance lease equipment 4,160,000 -Keno 237,026 275,694 loanloan facility 33,589,938 facility 15,339,938 15,339,938 15,339,938 -TAB 98,313 92,623 Facilities utilised balance date Facilities utilised at at balance date Bank overdraft - -Vending 41,724 41,713 Bank overdraft Bill discount facility 5,000,000 5,000,000 -Other 24,456 24,377 Bill discount facility 5,000,000 24,275,000 Business cards - Entertainment and promotion 934,235 789,379 Business cards Contingent liabilities 439,938 439,938 Investment property rentals 891,928 1,059,702 Contingent liabilities 439,938 439,938 Finance lease and equipment 528,105 554,864 Other revenue 72,135 48,597 Finance lease and equipment 554,864 1,910,073 loan facility 5,968,043 5,994,802 68,295,654 65,968,628 Total revenue from operations loan facility 5,994,802 26,625,011 Facilities not utilised at balance date Facilities not utilised at balance date Bank overdraft 700,000 700,000 Other income Bank 700,000 5,000,000 700,000 Billoverdraft discount facility 5,000,000 Gain on sale of asset 12,051,111 Bill discount 5,000,000 3,975,000 Business facility cards 40,000 40,000 Reversal of impairment 314,777 349,076 Business cards 40,000 40,000 Contingent liabilities loss on investment property 314,777- 3,605,136 12,400,187Contingent Finance liabilities lease and equipment 3,631,895 loan facility 9,371,895 Loss from disposal of non current asset Finance lease and equipment 3,605,136 9,345,136 2,249,927 loan facility Loss from disposal of non current asset (716,901) (170,267) 9,345,136 6,964,927 The bank overdraftplant facility, theequipment bank loans and lease liabilities are secured by a combination of a registered Write-off of property, and (450,000) (450,000) mortgage over the club at Smith Street liabilities and Garfield Wentworthville and specific (1,166,901) (620,267) The first bank overdraft facility, thepremises bank loans and lease areStreet, secured by a combination of a registered property and a registered first equitable mortgage over the club's entire assets and undertakings first freehold mortgage over the club premises at Smith Street and Garfield Street, Wentworthville and specific including uncalled capital. freehold property and a registered first equitable mortgage over the club's entire assets and undertakings including uncalled Security consistscapital. of: Personnel expenses

Registered first mortgage by Wentworthville Leagues Club Limited over club premises situated at 2016 In AUD

2015

Security consists of: Wentworthville Leagues Club, Smith Street, Wentworthville, NSW, 2145. Wages and salaries 13,567,237 12,597,551 Registered first mortgage by Wentworthville Leagues Club Limited over club premises situated at Payroll tax 748,790 676,063 Wentworthville Leagues Club, Smith Street, Wentworthville, NSW, 2145. A firstcompensation registered equitable mortgage by Wentworthville Leagues Club Limited over the whole of its assets Workers 211,947 214,681 and undertakings including uncalled capital. Registered first mortgage by Wentworthville Leagues Club (Increase)/ decrease in employee benefits 31,436 36,891 A first registered equitable mortgage byWentworthville. Wentworthville Leagues Club Limited over the whole of its1,184,946 assets Limited over properties situated in Contributions to 46 defined contribution plans 1,249,284 and undertakings including uncalled capital. Registered first mortgage by Wentworthville Leagues Club Other associated employee expenses 671,152 647,313 Limited over 43 properties situated in Wentworthville. 16,479,846 15,357,445 19 Provisions 2016

In AUD

6 income and finance costs 20 Finance Provisions Current In In AUD AUD

Linkedincome poker machine jackpot Dividend Provision for mortality commitment Interest Currentincome Provision for player bonus points Finance income Linked poker machine jackpot

Provision for mortality commitment Non-Current Interest expense Provision for for player bonus points Provision mortality commitments Change in Financial assets at fair value through profit or loss Finance costs Non-Current Net finance recognised in profit or loss Provision forcosts mortality commitments

59th Annual Report 2016

2015

2016 2015 288,340275 4,686 121,698 192,315 121,973 187,745 485,341

2015 2014 187,745 1,255 4,686 711,208 179,132 712,463 126,326 371,563

87,906

87,186

4,686 (482,683) 179,132 86,250 371,56386,250 (482,683) (360,710) 87,906

Wentworthville Leagues Club Limited

4,686 (1,286,339) 167,963 87,906 (2,158) 298,975 87,906 (1,288,497) (576,034) 87,186

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS

Wentworthville Leagues Club Limited For The Financial Year Ended 31 December 2016 Notes to the financial statements (continued)

For the year ended 31 December 2016 19 Provisions (continued) Linked poker machine jackpot

Poker machine link jackpots is the current balance of available jackpots that accumulate from turnover play on poker machines. These jackpots are returned to players by achieving the required combination for the link jackpot on the machine being played. Member mortality commitment Members who joined the club between 1970 and 1989 may have been eligible for a mortality payment. No external fund exists and all commitments are met out of current cash flow. The present value of the mortality commitment reflects managements estimates based upon similar lapse rates and discount rates to prior year Actuarial valuations. Actuarial valuations are obtained every 5 years unless material movements in experience and discount rates occur. Rewards bonus points The best estimate of the commitment to members in relation to unredeemed bonus points is $192,315 (2015: $179,132). Earning rates, lapse rates and terms and conditions shall impact on future estimates. 20 Related party transactions The directors of the club may from time to time hold a director's role, have membership, life membership or be the patron of the various sport and recreational clubs and football clubs that are governed and controlled by the Leagues Club constitution. A Director of the Company is the principle of a business that has a contract for the provision of rental management of the residential property portfolio. The contract is on commercial terms. The rental management fees paid in the 2016 year were $47,793 (2015: $56,239). A Director of the Company is the principle of a business appointed from time to time to perform contract electrical work. Such appointments are made through a commercial tender process coordinated by Project Management and Building Contractors engaged by the Club. A director of the Company during the year received an honorarium as Director of the Cricket Club From time to time, directors of the Company may purchase goods and engage in services that are provided by the Company and available to all members. These purchases are on the same terms and conditions as those available to all other members and may be in addition to allowances entitled by the Constitution and approved by the members at the AGM. Apart from the details disclosed in this note, no director has entered into any contract with the Company since the end of the previous financial year. Key management personnel compensation The aggregate compensation made to directors and other members of key management personnel of the Company is set out below: 2016 2015 In AUD 2016 $ 2015 $ Short term employee benefits 1,332,016 1,012,458 Post employment benefits 92,819 96,184 1,424,835 1,108,642

Wentworthville Leagues Club Limited

59th Annual Report 2016

Member mortality commitment Members who joined the club between 1970 and 1989 may have been eligible LEAGUES for a mortalityCLUB payment. No WENTWORTHVILLE LIMITED Wentworthville Leagues Club Limited external fund exists and all commitments are met out of current cash flow.

NOTES TO THE FINANCIAL STATEMENTS

The present of the mortality commitment reflects managements estimates based upon similar lapse2016 Notes to thevalue financial statements (continued) For The Financial Year Ended 31 December rates and discount rates to prior year Actuarial valuations. Actuarial valuations are obtained every 5 years For the year ended 31 December 2016 unless material movements in experience and discount rates occur.

21 Capital and leasing commitments Rewards bonus points In AUD The best estimate of the commitment to members in relation to unredeemed bonus points (2013: 2016 is $167,963 2015 2016estimates. 2015 $ Finance lease and rates, equipment loan and commitments payable shall impact on future $ $166,422). Earning lapse rates terms and conditions Not later than 1 year 181,081 570,747 347,024 than one transactions year but not later than 5 years 21 Later Related party Minimum lease payments 528,105 570,747 Future financeofcharges (15,883) The directors the club may from time to time hold a director's role, have membership, life -membership 528,105 554,864 Present value of minimum lease payments or be the patron of the various sport and recreational clubs and football clubs that are governed and controlled by the Leagues Club constitution. Lease liabilities provided for in the financial statements: Current 18 181,081 of rental554,864 A Director of the Company is the principle of a business that has a contract for the provision Non-current 18 347,024 management of the residential property portfolio. The contract is on commercial terms. The rental 528,105 554,864 management fees paid in the 2014 year were $59,285 (2013: $54,117).

A Director of the Company during the year received an honorarium as a Director of the Cricket Club. Equipment loans relate to the financing of gaming machines with terms of no greater than 3 years. The Company full title during to the equipment at the end of the equipment loan agreement andBowling upon payment A Director acquires of the Company the year received an honorarium as a Director of the Men's Club. of the final loan instalment. From time to time, directors of the company may purchase goods and engage in services that are provided by 22 Financial reporting periodto all members. These purchases are on the same terms and conditions as those the company and available available to all other members and may be in addition to allowances entitled by the Constitution and approved The Company has always used a 52 week cycle for its reporting. The monthly reporting cycle is grouped by by the members at the AGM. weeks and follows a 5, 4, 4 cycle resulting in uniforms days in the relative months across consecutive years Apartthe from the details disclosed inConsequently, this note, no director hasoffentered any contract the Company since with exception of December. the close day forinto annual reportingwith purposes changes the end of the year andleap there were no actual contracts involving directors interests year end. every year by aprevious day andfinancial two days every year. The month end date for 2016 is 27 at December 2016 and the 2015 actual close date was 29 December 2015. Key management compensation 23 Core and non-corepersonnel properties The aggregate compensation made to directors other members of keythe management personnel of theas Pursuant to Section 41 J of the Registered Cluband Amendments Act 2006, club categorises property company is set out below: follows In AUD

Short term employee benefits Post employment benefits Core property Non core property

2014 2016

954,246 88,608 89,671,225 1,042,854 89,671,225

Core properties held by the Club are: 50 Smith Street, Wentworthville NSW 2145 2 Dawes Street, Wentworthville NSW 2145 3 Dawes Street, Wentworthville NSW 2145 4 Dawes Street, Wentworthville NSW 2145 5 Dawes Street, Wentworthville NSW 2145 6 Dawes Street, Wentworthville NSW 2145 7 Dawes Street, Wentworthville NSW 2145 8 Dawes Street, Wentworthville NSW 2145 9 Dawes Street, Wentworthville NSW 2145 10 Dawes Street, Wentworthville NSW 2145 11 Dawes Street, Wentworthville NSW 2145 12 Dawes Street, Wentworthville NSW 2145 13 Dawes Street, Wentworthville NSW 2145 14 Dawes Street, Wentworthville NSW 2145 15 Dawes Street, Wentworthville NSW 2145

59th Annual Report 2016

Wentworthville Leagues Club Limited

2013 2015

908,276 74,574 86,031,164 982,850 86,031,164

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

24 Core and non-core properties (continued)

Core Properties held by the Club are:

50 Smith Street, Wentworthville NSW 2145 15 Jewelsford Street, Wentworthville NSW 2145 2 Dawes Street, Wentworthville NSW 2145 17 Jewelsford Street, Wentworthville NSW 2145 19 Jewelsford Street, Wentworthville NSW 2145 3 Dawes Street, Wentworthville NSW 2145 4 Dawes Street, Wentworthville NSW 2145 21 Jewelsford Street, Wentworthville NSW 2145 5 Dawes Street, Wentworthville NSW 2145 27 Jewelsford Street, Wentworthville NSW 2145 6 Dawes Street, Wentworthville NSW 2145 31 Jewelsford Street, Wentworthville NSW 2145 7 Dawes Street, Wentworthville NSW 2145 1 Mack Street, Wentworthville NSW 2145 8 Dawes Street, Wentworthville NSW 2145 3 Mack Street, Wentworthville NSW 2145 9 Dawes Street, Wentworthville NSW 2145 5 Mack Street, Wentworthville NSW 2145 10 Dawes Street, Wentworthville NSW 2145 7 Mack Street, Wentworthville NSW 2145 11 Dawes Street, Wentworthville NSW 2145 9 Mack Street, Wentworthville NSW 2145 12 Dawes Street, Wentworthville NSW 2145 11 Mack Street, Wentworthville NSW 2145 13 Dawes Street, Wentworthville NSW 2145 51 Smith Street, Wentworthville NSW 2145 14 Dawes Street, Wentworthville NSW 2145 58 Smith Street, Wentworthville NSW 2145 15 Dawes Street, Wentworthville NSW 2145 60 Smith Street, Wentworthville NSW 2145 16 Dawes Street, Wentworthville NSW 2145 62 Smith Street, Wentworthville NSW 2145 17 Dawes Street, Wentworthville NSW 2145 66 Smith Street, Wentworthville NSW 2145 19 Dawes Street, Wentworthville NSW 2145 68 Smith Street, Wentworthville NSW 2145 70 Smith Street, Wentworthville NSW 2145 432 Great Western Hwy, Wentworthville NSW 2145 72 Smith Street, Wentworthville NSW 2145 3 Jewelsford Street, Wentworthville NSW 2145 74 Smith Street, Wentworthville NSW 2145 7 Jewelsford Street, Wentworthville NSW 2145 76 Smith Street, Wentworthville NSW 2145 9 Jewelsford Street, Wentworthville NSW 2145 78 Smith Street, Wentworthville NSW 2145 11 Jewelsford Street, Wentworthville NSW 2145 13 Jewelsford Street, Wentworthville NSW 2145

Wentworthville Leagues Club Limited

59th Annual Report 2016

WENTWORTHVILLE LEAGUES CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2016

Wentworthville Leagues Club Limited Notes to the financial statements (continued)

For the year ended 31 December 2016 24 Commitments In AUD

Capital works Capital works contracted for but not yet completed

2016

2016$

2015

2015 $

6,496,427 6,496,427

512,552 512,552

On the 18th August 2015, the Club entered into a deed for the purchase of Mack Street for $1,680,000 (excluding GST) from Cumberland Council (formerly Holroyd City Council). The settlement of this transaction took place on April 5, 2017 25 Contingent assets and contingent liabilities The directors are of the opinion that provisions are not required in respect of these matters, as it is not probable that a future sacrifice of economic benefits will be required or the amount is not capable of reliable measurement. In AUD

Guarantee Bank performance guarantees

2016

2015

439,938

26 Events subsequent to reporting date There have been no events subsequent to reporting date which would have a material effect on the Club's financial statements as 31 December 2016. 27 Members guarantee The Company is limited by guarantee. If the Company is wound up, Rule 23 of the Constitution states that each member at that time, or within one year afterwards is required to contribute a maximum of $1 each towards meeting any outstanding obligations of the Company. At 31 December 2016 the number of members were 60,091 (2015: 56,213).

59th Annual Report 2016

Wentworthville Leagues Club Limited

WENTWORTHVILLE LEAGUES CLUB LIMITED UNAUDITED INCOME STATEMENTS

WentworthvilleLeagues LeaguesClub ClubLimited Limited Wentworthville

For The Financial Year Ended 31 December 2016

Unauditedincome incomestatements statements Unaudited

For year ended December 2016 For thethe year ended 3131 December 2016

Unaudited detailed Income Statement disclaimer - additional The additional information presented pages 37accordance to 39 is with Unaudited detailed Income Statement disclaimer - The information presented on pages 36 38 is in with boo Unaudited detailed Income Statement disclaimer - The additional information presented on pages 36on to to 38 is in accordance thethe books records Wentworthville Leagues Club Limited which have been subject the audit procedures applied in Statutory KPMG records of of Wentworthville Leagues Club Limited have been subject to to the audit procedures applied thethe Statutory audit byby KPMG fo in accordance with the books and records ofwhich Wentworthville Leagues Club Limited which haveinbeen subject to audit the year ended 31 December 2016. It will be appreciated that our statutory audit did not cover all details of the additional financial data. the year ended 31 December 2016. It will be appreciated that our statutory audit did not cover all details of the additional financial data. the audit procedures applied in the Statutory audit by KPMG for the year ended 31 December 2016. It will be Accordingly, express opinion on such financial data and no warranty accuracy reliability is given. Accordingly, wewe dodo notnot express anan opinion such financial data and or or accuracy is given. appreciated that our statutory audit didonnot cover all details of no thewarranty additional financialreliability data. Accordingly, we do not express an opinion on such financial data and no warranty or accuracy reliability is given. Wentworthville Leagues Club Wentworthville Leagues Club 2016 2016

$ Income Income Gaming machine revenue Gaming machine revenue Less GST applicable thereto Less GST applicable thereto Poker machine revenue Poker machine revenue Beverage sales Beverage sales Catering sales Catering sales Dividends received Dividends received Entertainers Entertainers Insurance recovery Insurance recovery Interest received Interest received Keno commission Keno commission Membership fees Membership fees Other commission Other commission Rent received residential properties Rent received residential properties Sundry revenue Sundry revenue Tab commission Tab commission Total revenue Total revenue Expenditure Expenditure Advertising Advertising Auditors' fees Auditors' fees Bad debt Bad debt Bank charges Bank charges Beverage expenses Beverage expenses Catering expenses Catering expenses Cleaning expenses Cleaning expenses Club journal Club journal CMS line CMS line feefee Computer expenses Computer expenses Consulting fees Consulting fees Contractor cleaners and security Contractor cleaners and security Contractor greens Contractor greens Contractor kitchen Contractor kitchen Depreciation Depreciation Directors' expenses Directors' expenses Directors' honorarium Directors' honorarium Donations Donations

2015 2015

Smith Street Smith Street

2016 2016

2015 2015

56,237,404 56,237,404 5,091,018 5,091,018 51,146,386 51,146,386

54,747,923 54,747,923 4,956,217 4,956,217 49,791,706 49,791,706

56,237,404 56,237,404 5,091,017 5,091,017 51,146,387 51,146,387

54,747,923 54,747,923 4,956,217 4,956,217 49,791,706 49,791,706

5,266,631 5,266,631 9,247,373 9,247,373 275 275 930,028 930,028 121,698 121,698 237,026 237,026 188,844 188,844 211,921 211,921 891,928 891,928 77,202 77,202 98,313 98,313 17,271,239 17,271,239 68,417,625 68,417,625

5,029,026 5,029,026 8,312,447 8,312,447 (903) (903) 795,742 795,742 - 711,208 711,208 275,694 275,694 177,581 177,581 366,774 366,774 1,059,702 1,059,702 66,611 66,611 92,623 92,623 16,886,505 16,886,505 66,678,211 66,678,211

5,266,631 5,266,631 9,247,373 9,247,373 275 275 930,028 930,028 - 121,697 121,697 237,026 237,026 188,844 188,844 211,921 211,921 891,928 891,928 77,202 77,202 98,313 98,313 17,271,239 17,271,239 68,417,625 68,417,625

5,029,026 5,029,026 8,312,447 8,312,447 (903) (903) 795,742 795,742 - 122,005 122,005 275,694 275,694 177,581 177,581 366,774 366,774 1,059,702 1,059,702 66,611 66,611 92,623 92,623 16,297,302 16,297,302 66,089,008 66,089,008

459,424 459,424 84,744 84,744 1,000 1,000 90,749 90,749 1,837,257 1,837,257 4,007,009 4,007,009 235,402 235,402 392,816 392,816 280,151 280,151 142,556 142,556 73,825 73,825 1,178,102 1,178,102 343,366 343,366 474,244 474,244 5,733,637 5,733,637 120,234 120,234 62,017 62,017 456,486 456,486

402,152 402,152 74,684 74,684 1,872 1,872 81,218 81,218 1,798,463 1,798,463 3,442,902 3,442,902 250,173 250,173 335,580 335,580 271,584 271,584 128,400 128,400 77,307 77,307 1,122,516 1,122,516 306,115 306,115 400,215 400,215 5,648,062 5,648,062 149,380 149,380 60,735 60,735 430,490 430,490

402,152 402,152 74,684 74,684 1,872 1,872 81,218 81,218 1,798,463 1,798,463 3,442,902 3,442,902 242,966 242,966 335,580 335,580 271,584 271,584 128,400 128,400 77,307 77,307 1,122,516 1,122,516 306,115 306,115 400,215 400,215 5,647,408 5,647,408 149,380 149,380 60,735 60,735 430,490 430,490

Wentworthville Leagues Club Limited

59th Annual Report 2016

For the year ended 31 December 2016

Unaudited detailed Income Statement disclaimer - The additional information presented on pages 36 to 38 isLIMITED in accordance with the bo WENTWORTHVILLE LEAGUES CLUB records of Wentworthville Leagues Club Limited which have been subject to the audit procedures applied in the Statutory audit by KPM the year ended 31 December 2016. It will be appreciated UNAUDITED that our statutory INCOME audit did notSTATEMENTS cover all details of the additional financial data Wentworthville Leagues Club Limited Accordingly, we do not express an opinion on such financial and no warranty or accuracy is given. 2016 Fordata The Financial Year Endedreliability 31 December

Unaudited income statements Wentworthville Leagues Club Limited For the year ended 31 December 2016

Unaudited income statements

Expenditure For the year ended(continued) 31 December 2016 Electricity Entertainment Expenditure Income (continued) Entertainers Electricity Gaming machine Fringe benefit tax revenue Entertainment Less GST applicable Gaming machine duty thereto Entertainers Poker machine revenue Gas Fringe benefit tax Hiring charges Gaming machine duty Beverage sales Impairment of assets Gas Catering sales Insurance Hiring charges received Dividends Interest Impairment of assets Entertainers Land tax Insurance Insurance Legal fees recovery Interest Interest received Loss/ (profit) on disposal of fixed assets Land tax Keno commission Loyalty program Legal fees Membership fees Members entertainment Loss/ (profit) on disposal of fixed assets Other commission Members expenses Loyalty program Rent received Mortality funds residential properties Members entertainment Sundry and revenue Postage courier Members expenses Tab commission Payroll tax Mortality funds Printing Postage courier Totaland revenue Prizes and promotions Payroll tax Property fees Printing Provisional Expenses Expenditure Prizes and promotions Rates and taxes Advertising Property fees Rental finance Auditors' fees Provisional Expenses Repairs and maintenance Bad debt Rates and taxes Responsible gaming Bank charges Rental finance Salary and wages Beverage expenses Repairs and maintenance Security Cateringservices expenses Responsible gaming Sporting association Cleaning expenses Salary and wages Staff hiring Club journal Security services Staff CMStraining line feeand amenities Sporting association Stationary Computer expenses Staff hiring Sundry expenses Consulting fees Staff training and amenities Sundry license Contractor cleaners and security Stationary Superannuation Contractor greens Sundry expenses Contractor kitchen Telephones Sundry license Depreciation Travelling expenses Superannuation Directors' expenses Total expenditure Telephones Directors' honorarium Travelling expenses Profit/(loss) before income tax Donations Total expenditure Profit/(loss) before income tax

Wentworthville LeaguesClub Club Wentworthville Leagues 2016 2016

2015 2015

9,708,680

22,900,304

700,896Leagues Club 716,388 Wentworthville $ 6,556 $ 3,131 2016 2015 1,121,278 840,063 700,896 716,388 56,237,404 54,747,923 51,156 37,391 6,556 3,131 5,091,018 4,956,217 14,094,975 13,653,337 1,121,278 840,063 49,791,706 51,146,386 187,005 173,992 51,156 37,391 85,297 105,482 14,094,975 13,653,337 5,266,631 5,029,026 (314,777) (349,076) 187,005 173,992 9,247,373 8,312,447 532,714 288,049 85,297 275 105,482(903) 391,934 1,205,120 (314,777) (349,076) 930,028 795,742 271,732 279,260 532,714 288,049 38,710 33,563 391,934 1,205,120 121,698 711,208 716,901 (11,880,844) 271,732 279,260 237,026 275,694 2,692,038 2,416,648 38,710 33,563 188,844 177,581 120,393 110,233 716,901 (11,880,844) 211,921 366,774 19,289 58,928 2,692,038 2,416,648 891,928 1,059,702 2,319 4,170 120,393 110,233 77,202 66,611 100,704 83,632 19,289 58,928 98,313 92,623 748,790 676,063 2,319 4,170 17,271,239 16,886,505 130,811 157,818 100,704 83,632 68,417,625 66,678,211 1,231,902 1,182,928 748,790 676,063 47,793 56,239 130,811 157,818 450,000 450,000 1,231,902 1,182,928 343,939 348,403 459,424 402,152 47,793 56,239 2,427 2,080 84,744 74,684 450,000 450,000 1,729,067 1,739,009 1,000 1,872 343,939 348,403 47,250 47,250 90,749 81,218 2,427 2,080 13,187,027 12,406,961 1,837,257 1,798,463 1,729,067 1,739,009 187,882 113,079 4,007,009 3,442,902 47,250 47,250 1,064,875 1,079,987 235,402 250,173 13,187,027 12,406,961 348,718 413,934 392,816 335,580 187,882 113,079 662,421 639,591 280,151 271,584 1,064,875 1,079,987 31,729 31,491 142,556 128,400 348,718 413,934 83,001 93,932 73,825 77,307 662,421 639,591 248,938 272,337 1,178,102 1,122,516 31,729 31,491 1,249,284 1,184,946 343,366 306,115 83,001 93,932 474,244 400,215 77,600 72,656 248,938 272,337 5,733,637 5,648,062 43,353 47,890 1,249,284 1,184,946 120,234 149,380 58,708,945 43,777,908 77,600 72,656 62,017 60,735 43,353 47,890 456,486 430,490 9,708,680 22,900,304 58,708,945 43,777,908

59th Annual Report 2016

SmithStreet Street Smith 2016 2016

700,896 Smith Street $ 6,556 2016 1,121,278 700,896 56,237,404 51,156 6,556 5,091,017 14,094,975 1,121,278 51,146,387 187,005 51,156 85,297 14,094,975 5,266,631 (314,777) 187,005 9,247,373 532,714 85,297 275 391,934 (314,777) 930,028 271,732 532,714 38,710391,934 121,697 716,901 271,732 237,026 2,692,038 38,710 188,844 120,393 716,901 211,921 19,289 2,692,038 891,928 2,319 120,393 77,202 100,704 19,289 98,313 748,790 2,319 17,271,239 130,811 100,704 68,417,625 1,231,902 748,790 47,793 130,811 450,000 1,231,902 343,939 459,424 47,793 2,427 84,744 450,000 1,729,067 1,000 343,939 47,250 90,749 2,427 13,187,027 1,837,257 1,729,067 187,882 4,007,009 47,250 1,064,875 235,402 13,187,027 348,718 392,816 187,882 662,421 280,151 1,064,875 31,729 142,556 348,718 83,001 73,825 662,421 248,938 1,178,102 31,729 1,249,284 343,366 83,001 474,244 77,600 248,938 5,733,637 43,353 1,249,284 120,234 58,708,945 77,600 62,017 43,353 456,486 9,708,680 58,708,945 9,708,680

Wentworthville Leagues Club Limited

2015 2015

713,672 $ 3,131 2015 840,063 713,672 54,747,923 37,391 3,131 4,956,217 13,653,337 840,063 49,791,706 173,992 37,391 105,436 13,653,337 5,029,026 (349,076) 173,992 8,312,447 288,049 105,436(903) 1,205,120 (349,076) 795,742 279,260 288,049 33,5631,205,120 122,005 170,267 279,260 275,694 2,416,648 33,563 177,581 110,233 170,267 366,774 58,928 2,416,648 1,059,702 4,170 110,233 66,611 83,632 58,928 92,623 676,063 4,170 16,297,302 157,818 83,632 66,089,008 1,182,928 676,063 56,239 157,818 450,000 1,182,928 333,224 402,152 56,239 2,080 74,684 450,000 1,738,713 1,872 333,224 47,250 81,218 2,080 12,406,961 1,798,463 1,738,713 113,079 3,442,902 47,250 1,079,987 242,966 12,406,961 413,934 335,580 113,079 639,591 271,584 1,079,987 31,491 128,400 413,934 93,932 77,307 639,591 272,337 1,122,516 31,491 1,184,946 306,115 93,932 400,215 71,630 272,337 5,647,408 47,890 1,184,946 149,380 55,801,895 71,630 60,735 47,890 430,490 10,287,113 55,801,895 10,287,113

WENTWORTHVILLE LEAGUES CLUB LIMITED UNAUDITED INCOME STATEMENTS For The Financial Year Ended 31 December 2016

Wentworthville Leagues Club Limited Unaudited income statements

For the year ended 31 December 2016 Key financial data by location

Smith Street

2016

2015

Total income Total expenses Profit/(loss) before income tax Income tax expense / (benefit)

68,417,625 58,708,945

66,089,008 55,801,895

9,708,680

10,287,113

432,094 9,276,586

Bowling Club

2016

2015

Total income Total expenses

12,640,314 27,124

Profit/(loss) before income tax

12,613,190

Income tax expense / (benefit)

602,338 9,684,775

Wentworthville Leagues Club Limited

1,844,809 10,768,381

59th Annual Report 2016

Wenty Leagues in Partnership with the Community Wenty Leagues has a proud record of supporting welfare, charitable and sporting organisations within our community.

The following were the beneficiaries of financial and in-kind support in 2016: • Granville Multicultural Community Health Centre Inc

• Ronald McDonald House

• Hilltop Road P & C Association

• Youth off the Streets

• The Royal Life Saving Society NSW

• Life Education

• Australian Kookaburra Kids Foundation Inc

• Cumberland Women’s Health

• Greystanes High School P&C

• Careflight

• Pendle Hill Public School

• Prosper

• Parramatta Mission

• Adam Gardiner Fund

• Muru Mittigar Limited

• Men of League Foundation

• Autism Spectrum Australia

• Australian Red Cross

• Boronia Multicultural Services

• Learning Links

• SHINE for Kids Co-Operative Limited

• The Leukemia Foundation of Aust Ltd.

• The Northcott Society

• Child Abuse Prevention Service

• St Vincent de Paul Society NSW

• Girl Guide Association NSW & ACT

• Beresford Road Public School

• Scout Association of Australia, NSW Branch

• Community Migrant Resource Centre

• KU Westmead Preschool

• Foster Care Angels Incorporated

• Cumberland Council

• MTC Australia

• Our Lady of Mt. Carmel P&F

• Parramatta/Holroyd Family Support Inc.

• The Shepherd Centre

• Parramatta Mission

• Girraween Public School

• Road Safety Education Limited

• Darcy Road Public School P & C

• The Australian Genies

• Evolve Housing for Youth

WENTWORTHVILLE LEAGUES CLUB LIMITED For The Financial Year Ended 31 December 2016

Wentworthville Leagues Club Limited

50 Smith St, Wentworthville NSW 2145

Wentworthville Leagues Club Limited

59th Annual Report 2016