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Years
2014ANNUALREPORT
CONTENTS
1. BOARDPROFILES
2. CAPTAIN’SREPORT
5. PRESIDENT’SREPORT
6. TREASURER’SREPORT
10. MEMBERSHIP
12. WOMENMEMBERS
15. MAJOREVENTWINNERS
16. GOLFSUB‐COMMITTEE
18. SOCIALSUB‐COMMITTEE19. HERITAGESUB‐COMMITTEE20. WOODLANDSFOUNDATION
22. CORPORATEGOVERNANCE
24. BOARD’SSTATUTORYREPORT
26. BOARDDECLARATION
27. FINANCIALSTATEMENTS&ACCOMPANYINGNOTES
39. INDEPENDENTAUDITREPORT
41. SEGMENTALFINANCIALREPORT
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BOARDPROFILES
M. Fothergill
President Joined Board August 2013
Retired
L. J. Brown
Captain Joined Board October 2007
Chartered Accountant
P.D. Tessier
Joined Board June 2009 (retired from Board Nov 2013)
Advertising Executive
J. Etherington
Honorary Treasurer Joined Board November 2010
Chartered Accountant
G.G. MacMillan
Joined Board November 2011 (retired from Board Nov 2013)
Associate Planning Director
G.M. Tansey
Joined Board November 2011 Regional Executive
R.Deegan
Joined Board November 2009 Company Director
J.L. Horton
Joined Board November 2010 Retired
M. Doutch
Joined Board June 2014 Company Director
R. J. Gribusts
Joined Board October 2006 (resigned from Board May 2014)
Local Government Officer
S. Hobbs
Joined Board November 2013 Retired
J. Carroll
Joined Board June 2014 Consultant/Chartered Accountant
G. Powerlett
Joined Board November 2013 (resigned from Board May 2014)
Company Director
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CAPTAIN’SREPORTOVERVIEWTheclubhasnowcompletedit’scentenaryyearwithallcelebrationsbeingasuccess.Thisyear’sAnnualGeneralmeetingwillbethe100thmeeting,whichisamemorableachievement.Thereisnodoubtthegolfindustryissufferingwithmorethan50%ofgolfcoursesrecordinglossesanddecliningmembership.Thistrendwillcontinueandsomeclubswillbeforcedtocloseoramalgamate.ThereforeitisimportantthatWoodlandsremainastrongandvibrantclubtobethepreferredclubofchoice.Thetreasurerwillreportindetailyearendresultsbutinsummary,theclubreportedalossfortheyearof$248,152. This resulted after the deduction of depreciation (a non cash item) of $486,699. Earningsbeforedepreciationwere$238,547.Itisdisappointingtohaverecordedalosshoweverbudgetstepsareinplacetoturnthisaroundwithcostreductionmeasuresandimprovedtrading.The2014/15budgetisaimedatachievingaprofitandiscurrentlyoncoursetoachievesuch.COURSEThereisalwaysmuchconjectureaboutthemanagementofthecourseandtheenvirons.Therehavebeenmanydiscussionsrelatingtotreemanagementandthefactthatanumberoftreeshavebeenremoved.Thetreelogicreportof2010identifiedover400treesthatneededeitherremovalorattentioninsomeway.Thetreesthathavebeenremovedweredonesoforsafetyreasons,wrongspeciesorwereplantedinwrongareas.Wehavea3yearprogramoftreemaintenancethataddresstheissuesandhavecompletedthefirstyear.Therehavebeenmanyhundredsoftreesplantedaroundthecourseandbearinmindthereareover10,000treesonthecourse.Duringtheyeartherehavebeenconsiderablecourseworkscompletedincludingbutnotlimitedto:
1st–revegetationofthetreelinebetweenthefairwayand2ndtees,deadtreeremovalattherearofthegreenandrevegetate
3rdgreen–re‐profileandreplacewithMcKenziebentgrassincludingreshapingtheleftfairwayandrightshortofthegreenincludingbunkerdrainageandrevegetationtotheleftofthegreen
7thfairway–prunedencroachingtreelineontherightofthefairway 8th–re‐contouringoftherearofthegreenimprovingplayabilityandconstructionofanew
pathwayattherearofthegreentothe9thtee 10thgreen–re‐profileandreplacewithMcKenziebentgrass,reshapingandgrassingthe
surroundswithfescue,extendthefairwayontherightandpruningandupliftingofCoastalteatree
11th‐Revegetationofthesandywasteareablendingintothe12carry 16th–Constructedanewpathwayaroundthegreensidebunkerandtothe19thteesforcarts
andrevegetatetherearofthegreensidebunkerincludingreconstructedbunkertongue 19thConstructionofanewfescueturfnursery
Asnotedpreviouslythemajorproblemswiththeoldgreensisthehighlevelofthatchthathasbeenbuiltupovermanyyears.Whatispleasingisthatduringtheyearwewereabletoreplacetwogreensbeingthe10thand3rd.The3rdgreenwasconstructedwithfinancialassistancefromtheWoodlandsFoundationforwhichwearemostgrateful.Whenlookingatthegreenreplacementprogramwearemostfortunatetohaveagreatassetinthe19thholetobringintoplay.AlsotherehavecontinueddevelopmentandestablishmentoftheSantaanaintothefairways,thegrowinginofallnewgreensandsurroundsandthedevelopmentofabiologicalprogram(composttea’s)thatisprovingtobeverysuccessfulwiththereductionintheuseoffungicides.What has been extremely disappointing is the continued lack of care for the course. Far too manymembersdonotseetheneedtorepairpitchmarksordivots.Thequestionis,isthislackofeducationorpureignorance.Allmemberstakeresponsibilityforthecoursecare“respectforfellowmembers”.
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MEMBERSHIP
Thereisnodoubtthelifebloodofaprivateclubismembershipandmaintainingnumbers.Attheendoftheyearwehadatotalof1,200memberscomparedwith1,150lastyear.Inthecurrentclimatethisisanexcellentresultandfullcreditmustbegivetothemembershipsub‐committeeledbyMartinFothergillwhohaveinitiatedanumberofcampaignstoattractnewmembers,themostnotablebeingthefamilymembership.Whilstouroverallnumbershaveincreasedthishasnotbeenreflectedinanincreaseinsubscriptionrevenue,howevergoingforwardtheimprovedmembershippositionwillreflectpositively.Wemustcontinuetostrivetoattractnewmembersandourbestambassadorsarethecurrentmembers.ToallthosenewmembersthathavejoinedduringtheyearIwishyoumanyyearsofenjoyablegolfandfriendshipsatWoodlands.
STRATEGICPLAN
OurStrategicPlanfor2014‐2017wascompletedattheendoflastyear.IntheplanthereareanumberofstrategicpillarswiththekeyonesbeingTheCourse,Golf,Membership,Finance,Social,Communication&ServiceandGovernance.AtthecentreoftheplanisourcorevaluesbeingRespect,Excellence,Fellowshipand Transparency, termed the “Woodlands Way”. There have been many advances in the desiredoutcomes and key initiatives which are monitored by each sub‐committee including the StrategicPlanningGroup.Thereisnodoubttheplanisaroadmapforthefuture.MERGEROPTIONSTheStrategicPlanstatedoneofthe2017desiredoutcomeswastofullyexploreallmergeropportunitiesandpartnerships.WiththatinmindandnotingdecliningmembershipandfinancialconstraintstheBoardhasmovedtoseekopportunities.Therehavebeenanumberofpartnershipdiscussionswithotherclubswhichrelatesolelytoachievingcostsavings,howeverthesehavenotbeenprogressedtoanysatisfactoryoutcome.AnopportunitywaspresentedtousbyRossdaleGolfClubwhosuggestedtheymaybepreparedtosellsomeoftheirlandandcreateamergedentitywithusandPattersonRiverGolfClub.Unfortunately Rossdale have recently indicated they will not be proceeding at this time. We willendeavourtocontinuedialogueandseekalternatives.
MANAGEMENTANDSTAFF
Ourthanksgotoourentiremanagementteam.AspecialmentionmustbemadeofourretiringGeneralManagerJohnStampwhohasmadeanenormouscontributiontothecluboverthepast7years.HehasencouragedanddevelopedamanagementteamwhichwithhisguidancehasseentheappointmentoftheassistantmanagerRichardTullbergtotheGeneralManagerpositionandNicoleTaylorelevatedtothepositionofManagerFinanceandAdministration.Johnhasalsoworkedcloselywiththecoursestaffindevelopingthevegetationplan.WemustnotforgetJohnwasinstrumentalinoverseeingthedevelopmentoftheclubhouse.WeallwishJohnwellforthefuture.RichardTullbergandNicoleTaylorhaveworkedtirelesslythroughouttheyearandarenowrelishinginthemostseniorpositionsintheclubmanagement.OurCourseSuperintendent,RodTatt,assistedby JamesNewellandKateGeorge(seniorhorticulturist)andtheentirecoursestaffhavedoneanexcellent jobwiththeoverallpresentationofthecoursegivenbudgetrestraints.Theireffortsonandaroundthecoursehavebeenoutstanding.Itisashamethatwewillbe losing Rod Tatt but am sure a suitable replacement will be appointed, one who understands theintrinsicvaluesofthecourse. Onceagainthefoodandbeverageteamprovidedahighstandardofservicetomembersandguests.Theireffortsgolargelyunnoticedasmanyfunctionsoccuroutsidenormalmemberattendancetimes.
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Ournewdirector of golf Jason Simmons came to us in January fromRoyalMelbourne andhashad animmediateimpactwithnewideasandafriendlyapproachwhichhasseenavastimprovementinmemberservices.TheotherGolfServiceCentrestaffarealsoatthecoalfaceandhavedoneanoutstandingjob.
BOARDOurpresidentMartinFothergilldeservesspecialmention.Hestepped intoadifficultroleandhasbeenoutstanding.Hismanagementofmembershipandcommunicationshavebeenfirstclass.Hehastakenonmuchresponsibilityandhasbeenamajorguidance inclubaffairs.My thanks foryour time,effortandenthusiasm.Iwish toalsomakea specialmentionof ourTreasurer JohnEtheringtonwho is steppingdownat theAGM. He has done an outstanding job over the past 3 years. His knowledge and experience has beenextremelyhelpfulinguidingthefinancialaffairsoftheclub.The Board has seen somemovements during the year with the retirement of Ray Gribusts and GaryPowerlett.Iwishtothankthemfortheircontributiontotheclub.Atthisyear’sAGMwewillalsoseetheretirement of Judy Horton and having served on the ladies committee has contributed an enormousamountoftimeandeffortandthankherforhercontribution.IalsoexpressmyappreciationtotheotherBoardmembers inRobDeegan, GordonTansey, SharonHobbs,MichaelDoutch and James Carroll, thelattertwobeingelectedtofillcasualvacancies.GOLF
ToallmajoreventswinnersduringtheyearandparticularlytoourclubchampionsMattLedgerandTamaraSingham.Thepennantteamshadanindifferentyear.Themen’sseniorteamwasrelegatedtodivisiontwowhilstthecoltsretainedtheirpositionindivisiontwo.Thewomen’sdivisiononeteamandthematchplayteambothretainedtheirpositionshavingplayedverycompetitivelythroughtheseason.ThejuniorpennantmustnotbeforgottenastheseyoungplayersbeingguidedandcoachedbySteveHorstmannwerenotjustfineyoungambassadorsoftheclubbuttheyalsohighlightedtheexcellenceofthejuniordevelopmentprogram.ManagedbyStevetheteamsofyoungplayerswillresultintheclubcontinuingtoproduceyoungplayersthatcancompeteatahigherlevel.Specialthankstoallthepennantmanagersspecifically,MichaelO’Brien,SteveHorstmann,KayMahlookandHelenPearce.MentionmustalsobemadeofourteachingprofessionalsinSteveHorstmannandEthanCowdenwhoarebothexcellentteachersandgainpraisefrommanymembers.APPRECIATIONMythanksgototheladiesthatservedontheWomen’sCouncil.TheWomen’sCaptainKayMahlookandWomen’sPresidentTriciaMcCormackledanenthusiasticanddedicatedteamthatensuredthewomen’seventsandsocialactivitiesransmoothly.TothemanyothervolunteersthatassistedtheClubinsomanydifferentwaysduringtheyear,includingpennant caddies, working beemembers, centenary volunteers and those that providedmoral supportthankyou.TheHeritageGroup,TheWoodlandsFoundationTrusteesandthemanymembersthatservedon committees your efforts do not go unnoticed and on behalf of all the members I thank you mostsincerely.LindsayBrownCaptain
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PRESIDENT’SREPORTOverthelast12monthsourgreatClubhasrespondedwelltothechallengesthegolfingindustryhasbeenbringingus.Whilstwehearandreadaboutmanyclubsclosing,losingmoneyandhighmemberattritionrateswehavebeenproactiveinourapproachtomeetthesechallengesandmanyofthekeyinitiativesofourStrategicPlanhavehelpedustoachievethese.SUBCOMMITTEE’SThroughtheintroductionandexpansionofthevarioussub‐committeeswehavebeenabletocalluponthetalentsofawidercrosssectionofourmembersandwethankthemfortheirsupportandinput.Wehaveseenover170newmembersjoinWoodlandsoverthelast12months,whichisagreatresult.WhilstthefamilyandformermembershipinitiativecertainlyhelpedtobolsterthisnumberitisstillpleasingtoreportthatwehaveseenmanynewmembersjoiningthroughgeneralenquiriesandalsoweshouldnotlosesightthatwearegeneratingnewmembersthroughotherareassuchasgueststhatareattendingourgreatsocialeventsandsuchpromotionsasGiveGolfaGo.Ourkeyambassadorsareofcourseyoutheexistingmembersopleasekeepupthegoodwork.Whatagreatsocialcalendarwehavehadthislastyear.Wehaveseenalargeincreaseinattendanceatmanyfunctions.SomeneweventshavetakenplacesuchastheverysuccessfulCasualFridayNightDinners,theverywellsupportedNineandDineshavebeenagreatsuccessandwehaveenjoyedmanyothereventsthroughouttheyear.Welldonetosocialteamandthankyouforyoursupport.CommunicationaroundtheClubIfeelhasimprovedbybeingmoretransparentandinclusiveandthishasbeendeliveredthroughvariouscommunicationmethods.WehavetriedtoensurethatmembershavebeenkeptuptodateastohowtheClubisprogressingandwhatplanswehaveinplace.Thishasbeencommunicatedviathewebsite,emails,informationeveningsandthegoodoldfashionedpaperbasedinformationonournoticeboards.WehaveseenGolfServicesandtheGolfSubCommitteeworkingproactivelytogethertodeliveramuchimprovedservicecentre.Wehavearetailstrategy/offeringthatisdeliveringaservicethatyouthemembersshouldexpectandamuchmorerefinedanddefinedgolfingexperience.VOLUNTEER’SWhetheritisregularworkoutonthecourse,specialworkingparties,supportingthesub‐committees,Women’sCouncil,Foundation,Heritage,Pennantandmanymore,thankyouverymuch.Wereallycouldnotworkaswellaswedowithoutyou.STAFFWhenindustrychangesitquiteoftenbringsadifferentapproachastothewaywewillmeetthechallengesahead.WehaveanewmanagementteaminplacewithRichardTullbergandNicoleTaylorheadinguptheoperations;JasonSimmonsasDirectorofGolfismakingadifference;areplacementCourseSuperintendentissoontobeinplace.WewillalsobebolsteringtheteamwithaSalesandMarketingpersontobemoreproactiveintheareasofmembershiprecruitment,corporatefunctions,localbusinessparticipationandgeneraluseofourfacilities.Thiswillbeachievedbyactivedirectmarketingandtheuseofsocialmedia.Thankyoutoallthemanagementandstafffortheirserviceandsupportoverthelast12months.THEFUTUREInterestingtimesaheadforourClubandtheindustryasawhole.WeneedtosecurethelongtermfutureoftheClubbybeingproactiveinhowweapproachthechangingmarketofreducedmembership.WeneedtoensurethatwearerunningacosteffectiveClubthatoffersthebestpossiblevaluetoourmembership.SuccessfulclubswillbethosethatareactiveinfindinglongtermsolutionsandIamconfidentWoodlandswillachievethis.
MartinFothergill
President
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TREASURER’SREPORT
2014 2013 Difference %
REVENUE $ $
Membership 2,450,813 2,498,859 (48,046) 1.9-
Trading 2,018,780 1,846,362 172,418 9.3
Finance/Other 347,261 400,358 (53,097) 13.3-
4,816,854 4,745,579 71,275 1.5
EXPENDITURE
Membership 3,253,474 3,050,407 203,067 6.7
Trading 1,537,797 1,354,781 183,016 13.5
Finance/Other 273,735 338,414 (64,679) 19.1-
5,065,006 4,743,602 321,404 6.8
SURPLUS/(DEFICIT)
Membership (802,661) (551,548) (251,113) 45.5
Trading 480,983 491,581 (10,598) 2.2-
Finance/Other 73,526 61,944 11,582 18.7
(248,152) 1,977 (250,129)
SUMMARY OF OPERATING PERFORMANCE
TheresultsoftheClub’sthreeareasofoperationsaresummarisedaboveandthecomponentsofthesebalancesaredetailedinthesegmentalfinancialreportatpage44oftheAnnualReport.Thefollowingcommentsaremadeinrespecttothefinancialperformanceoftheseareas.MembershipThe$48,046(1.9%)declineinmembershipincomefromthepreviousyearisrepresentedbya$35,236(1.7%)decreaseinannualsubscriptionincome,reflectingtheattritionratesandmemberstransferringtocheapermembershipcategoriesmorethanoffsettingthe5%increaseinsubscriptionratesanda$26,994(21.9%)reductioninentrancefeesduetomanynewmembersnotbeingrequiredtopayanentrancefeeundertheCentenaryMembershipinitiative.Thesedecreaseswerepartiallyoffsetbyanincreaseof$14,184(4%)inmembershipservicesincome,representedbya$13,081(15%)increaseinlessonsandclinicstuitionincome.The$203,067(6.7%)increaseinmembershipexpenditurefromthepreviousyearisprimarilyrepresentedbya$129,553(18%)increaseinadministrationandgeneralexpenses.Themajoritemscontributingtothisincreasewerewagesandsalaries$69,795(16.4%)andoneoffcostsincurredinrespecttothestrategicplanof$29,994andthecentenarycelebrationsof$22,885.Inadditiongolfserviceswagesandsalariesandtuitionexpensesincreasedby$45,157(16.7%)reflectingchangestogolfservicesstaffing.Theabovedecreasesinmembershipincomeandincreasesinmemberexpenditureresultedina$251,113(45.5%)increaseinthedeficitfrommembershipactivitiesto$802,661.AmajorpriorityoftheBoardhasbeentoreversethistrend.AsaconsequenceoftheexcellentworkdonebyMartinFothergillandhisMembershipCommitteeweareforecastingforthefirsttimeinthreeyearsanincreaseinmembershipandentrancefeeincomeinthe2014/15year.InadditionadetailedreviewofexpenditurebytheFinance,GolfandCourseCommitteeshasidentifiedafurtherbudgetedreductionof$103,000(3.2%)inmembershipexpenditureinthe2014/15year.TheaboveinitiativeshavebeenfundamentaltotheClubbudgetingforasmalloverallsurplusin2014/15.
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TradingTheClub’soveralltradingrevenueincreasedby$172,418(9.3%)withrevenueincreasinginalltradingoperations(greenfees$13,632(4.6%),foodandbeverage$135,742(10.3%)andgolfretail$23,044(9.7%)).TheincreasedfoodandbeveragerevenuereflectedtheClub’scentenaryactivitiesandtheincreasedmember’sfunctionsandRobDeeganandhisSocialCommitteearetobecomplimentedfortheircontinuinginitiativesinpromotingthesememberactivities.TheincreasedgolfretailrevenuehasoccurredsincetheappointmentofJasonSimmonsasDirectorofGolfandreflectstheincreasedserviceandproductofferingsnowbeingprovidedtomembersbyJasonandhisteam.Whilefoodandbeveragemarginswerelargelyunchangedfromtheprioryear,houseexpensesincreasedby$86,300(12.2%).Thiswasaresultofincreasedstaffnumbersusedatthecentenaryandmemberfunctions.Theprofitmarginongolfretailsalesalsoreducedfrom30.8%to24.3%,reflectingthesellingofslowmovingsockatreducedmargins.Despitetheincreaseintradingrevenuetherewasasmall$10,598(2.2%)reductionintheoveralltradingmargin.In2014/15seniormanagementwillbeworkingdiligentlytoimprovemarginsandstaffefficienciesinfoodandbeverageandtheBoardisconfidentthatourgolfretailsalesandmarginsimprove.Theseinitiativesshouldresultinstrongandimprovedtradingresultsin2014/15.FinanceandOtherTheClub’ssurplusfromfinanceandotheractivitiesincreasedby$11,582(18.7%)to$73,526.Thisincreasewastheresultofthereducednetinterestexpenseof$40,352(13%)duetolowerinterestratesandrepaymentofdebt,offsetbya$17,194(5.2%)reductioninincomefromthebuildinglevy.FUTUREOPERATINGOUTLOOKThe2013/14financialyearwasalwaysgoingtobeachallengingonefortheClubaswegrappledwiththeneedtostabilisereducingmembershipincome,improveourtradingresultsandjudiciouslyreduceourexpenditures.ThroughthevariousinitiativesoftheMembership,Social,Golf,CourseandFinanceCommitteeswehavemadegoodprogressinalltheseareas.AspreviouslyadvisedattheMay2014MembersInformationNight,wearebudgetingtomakea$52,000surplusin2014/15whichrepresentsasignificantturnaroundfromthe2013/14result.HowevertheBoardisconfidentthatwithacontinuationofthemomentumandinitiativesgeneratedfollowingcompletionoftheClub’s2014–2017StrategicPlan,thatthisturnaroundcanbeachieved.Thisissupportedbyourresultsforthethreemonthsto30thSeptember2014whichareinlinewiththe2014/15budget.
2014 2013 Difference %
ASSETS
Cash at Bank and on Deposit 375,038 810,321 (435,283) (53.7)
Current and Financial Assets 342,308 361,624 (19,316) (5.3)
Course, Plant and Equipment 8,867,588 9,336,927 (469,339) (5.0)
9,584,934 10,508,872 (923,938)
LIABILITIES
Financial Liabilities and Provisions 520,380 453,789 66,591 14.7
Subscription in Advance 431,646 774,024 (342,378) (44.2)
Bank Debt 3,200,000 3,600,000 (400,000) (11.1)
Members Interest Bearing Deposits 950,000 950,000 -
5,102,026 5,777,813 (675,787)
NET ASSETS 4,482,907 4,731,059 (248,152) (5.2)
FINANCIAL POSITION
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FINANCIALPOSITIONDuringtheyeartheClubreduceditsdebtlevelsby$400,000withcashreservesreducingby$435,283to$375,038.Fixedassetbookvaluesdecreasedby$469,333reflectingdepreciationinexcessofcapitalexpenditure.Thesubscriptionsinadvanceliabilitydecreasedby$342,378,reflectingmembersdeferringtheirpaymentof2014/15subscriptionsuntilJuly2014.WhilethefinancialpositionoftheClubissoundintheshortterm,areturntotheoperatingsurplusasbudgetedforinthe2014/15andachievingcontinuingsurplusesiscriticaltotheClub’sfinancialstrengthinthemediumterm.
2014 2013
CASH INFLOWS FROM OPERATIONS
(Loss )/ Profit from Operations -248,152 1977
Depreciation 486,699 507919
Changes in Working Capital -227,430 -118702
11,117 391194
CASH (OUTFLOWS) FROM INVESTING ACTIVITIES
Capital Expenditure -29,418 -139662
19th Hole Donations 5,779 36081
Proceeds from Fixed Asset Sales 18000
-23,639 -85581
CASH (OUTFLOWS) FROM FINANCING ACTIVITIES
Proceeds from Borrowings 22035
Repayment of Borrowings -422,760 -520924
-422,760 -520924
TOTAL INCREASE/(DECREASE) IN CASH FUNDS -435282 -215310
SUMMARY OF CASH FLOWS
CASHFLOWSTheClub’scashreservesdecreasedby$435,283comparedtoadecreaseincashreservesintheprioryearof$205,310.ThisdecreasewasprimarilyduetothepaymentoftheSeptember2013bankdebtinstalmentof$400,000,withtheClubachievingasmallcashsurplusof$11,117fromoperations.Atthe30thJune2014theClubis$700,000infrontofitsBankrepaymentschedule.GiventhecurrentmergertalkswithRossdaleandPattersonRiver,theBoarddecidedtoreducetheSeptember2014bankdebtinstalmentfrom$400,000to$200,000,pendingtheoutcomesofthosediscussions.TheClub’scashreservesremainsoundwithavailablecashat30thSeptember2014being$1.1million.FINANCESUBCOMMITTEE.TheFinanceCommitteeofJohnEtherington(Chairman),LindsayBrown,MartinFothergill,JamesCarroll,ShaneCrockettandSeelanSinghammetfourtimesduringtheyear.InadditiontomonitoringtheongoingfinancialperformanceoftheClub,theCommitteealsoassessedtheClub’sprogressinachievingthekey2014‐2015FinancialPillarinitiativesasdetailedinthe2014‐2017StrategicPlan.IwouldliketoacknowledgeandthanktheCommitteemembersfortheirassistanceandsupportthroughouttheyear.
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THANKSIwouldliketoformallyrecordmyappreciationoftheeffortsandsupportofthefinanceandadministrationstaff(NicoleTaylor,NadineMargheriti,GeorgiaCareyandLouiseCooper),inthesmoothdaytodayrunningoftheofficeandattendingtotheClub’sfinancialaffairs.WiththedepartureofJohnStamp,NicoleTaylorhasbeenrequiredtotakeonadditionalfinancialandmanagementresponsibilitieswhichshehasdonemostcapably.SheistobecongratulatedonherwelldeservedpromotiontoManagerFinanceandAdministration.FinallyIwouldliketothankJohnStampforhissupportandexpertiseinmaintainingstrongfinancialcontrolsandprocessesduringhistimeasGeneralManagerandwishRichardTullbergeverysuccessinhisnewrole.JohnEtheringtonHon.Treasurer
3rdgreenrenovation
10thgreenrenovation
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MEMBERSHIP
NEWMEMBERSWewouldliketowelcomethefollowingnewandformermemberstotheClub:
MarcusAmon MichaelConstable SusanHetherington WarrenMcLaren BeauScharenguivelRhysAndrew CharlieConstable RobertHetherington JohnMcLauchlan MadisonScharenguivelMilesAndrew DeanCowden AndrewHobbs AnitaMcLauchlan WilliamSchwarzenbergBrianAndrews WendyCoxhead JeffreyHogg ChristopherMcNicol MatthewShanksWayneArthurs MargaretCroker SamHolland TonyMerrick AryanSharmaDouglasAshman JackDalton LachlanHolman BenMillgate GregorySkeltonStuartBaker SamuelDalton AnthonyHolman AndrewMirams MelvynSooAlistairBarkhouse AmelieDart‐Fagan MitchellHumbert StevenMorris PatriciaSooStevenBaron RodneyDavey NarelleHumbert AnthonyMurphy AnthonyStavridisNicholasBez LeighDeagan SarahHunter AndrewNicoll DavidStevensonLucasBigwood NedDoran RodneyHutson DavidNicoll GeraldStutterdJosephBishop LukeDowney JamesInglis PaulO'Brien DanielStutterdBronwynBishop FionaDoyle RichardIronmonger StephenO'Connor SteveSullivanPamellaBoyd AlanDrummond RobertIronmonger MaxwellOldham DouglasThompsonMichaelBozikis MarkDunn DamonJacobs HelenO'Sullivan NicholasThorburnGeorgeBozikis ZacharyDworkis KobeJacobs MichellePaez‐Kirkland ChristopherThorpeAngeBozikis PaulEagling SeanJencik PaulParakilas MarciaTrebilcockNickBrennan HelenEagling ShuhanJia JanPersson RenaeTroupPaulBrown GlennEdbrooke TimJohns JillPettit IainTroupJudithBruce TomEdwards DamonKelly ChristopherPettit JimTzivakisWilliamBurgess NeilEvison GuyKerr MurrayPitts CameronVorrathChristopherBurgess MarkFautley PeterLane MarikaPluta SineadVorrathPaulBurke ChristineFraser MichaelLenarduzzi LeannePodesta AdamWaitesThomasBurn NancyFuller EvanLeonard EnioPozzebon DavidWalshAndrewByrns BodieGardner ZaineLeonard AedanPragnell StephenWardThomasCameron KatrinaGaskell MatthewLewin StevenPragnell StephanieWeeAidanCarroll VirginiaGaskell JohnLisica RhysPresnell TimothyWeeCarterGrangeHomesP/L LizbethGilchrist DeborahMaddison KirkPresnell ColleenWennMatthewCauchi SimonGilding BrendenMair BrendanRees FraserWiknerJohnCauchi SandraGirvan TerryMartin MarkReimann LukeWilkinsonTrentChamberlain ChristopherGraham JudithMatulick IreneRichardson BrettWillmottJackChamberlain BrettHampton TrevorMcCann DamianRies KuanWongSeanChamberlain CharlesHarley SandraMcCann StephenRies SimonWoolleyPhillipChamberlain RobertHarris AlexanderMcDonald RollspackP/L DavidYoungSabinoChoi CameronHaynes GraemeMcDougall GeorgeRowlands OwenYoungMargaretClemens IanHeath BrendonMcEniry TrudyRundle CameronClemens MatthewHecker JonathonMcEniry JonathonSalvage DanielColeman SamuelHecker WendyMcEniry SvendSamild MargotConroy MatthewHerman PatrickMcEniry PamelaSaul
Membership Category
Ordinary 330 333 24 20 354 353
Provisional 0 0 0 0 0 0
Intermediate 118 112 110 100 228 212
Intermediate Ordinary 0 0 0 0 0 0
Weekday 1 1 2 3 3 4
Junior 38 22 2 2 40 24
Member U35 (18-20) 8 11 1 2 9 13
Member U35 (21-24) 17 22 2 2 19 24
Member U35 (25-29) 41 36 2 2 43 38
Member U35 (30-34) 41 51 2 1 43 52
Non Playing/Absentee 197 170 37 38 234 208
Incapacitated 3 4 0 0 3 4
Country 64 62 5 6 69 68
Life & Senior 44 51 19 20 63 71
Honorary Life 3 3 0 1 3 4
Honorary 7 6 3 2 10 8
Social 26 20 38 33 64 53
Business 11 11 1 0 12 11
Corporate 3 2 0 0 3 2
Temporary 0 1 0 0 0 1
Total 952 918 248 232 1200 1150
Male Members 2014 Male Members 2013 Lady Members 2014 Lady Members 2013 Total Members 2014 Total Members 2013
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MEMBERSHIPCONT.
OBITUARYItiswithregretthatwerecordthepassingofthefollowingmembersduringtheyear:
PegCritchley–Aged99JohnDawe–Aged85JamesDickie–Aged73MaxEiseM.B.E–Aged98JackFisher–Aged86
JimGabriel – Aged86BethRitchie–Aged82KevinSheedy–Aged83MarjStevenson–Aged82FrankWardJr–Aged52
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WOMENMEMBERSFromtheWomen’sPresident TheWomen’sCouncilatWoodlandshavebeenanamazingteamtoworkwiththroughout2014;weseemedtohavehadaneventeveryfewweeksthroughouttheyearandeveryonewasrunsuccessfully.TheCouncilconsistsofKayMahlook,HelenPearce,SueGollings,HelenNorton,RobynCashion,SueClarkeandJoEdwards.ThesewomenhavearrivedattheclubveryearlybeforeeacheventandhavespentmanyhoursensuringthateveryfunctionsuchasthehostingofPennant,Interclub,FridayMatchplay,twoGuestDays,ourWoodlandsBowlandtheAnnualOpenDayallrunsmoothly.ThemajorityofeventsrunbytheWomen’sCouncilthisyearinvolvedtheuseofthediningroomwhereourchefParteekSharmaandhisteaminthekitchenprovidedstunningmealsthatwerealwayscommentedonbyallvisitorsandmembersalike.TheFrontofHousestaffleadbySeanKeenanalsodeserveourthanksfortheefficientandfriendlymannertheyservedallmealsandofcoursetheProShopstaffwhooftenhavetoregistermanyvisitorsandcheckresultsinashorttimeframeforallthesespecialevents.ThisyearweworkedwithSteveHorstmannandEthanCowdentointroducetheProgramsetupbyGolfVictoriacalled“GiveGolfAGo”whichhasresultedinseveralnewfemalemembersjoiningandlearningtoplaythischallenginggame.TheseclinicscontinuetoattractnewwomenandtheyaremadetofeelwelcomebytheWomen’sCouncilandmemberssuchasLouiseSimpsonwhohasbeenverygenerouswithhertimesupportingthesenewplayers.WefarewellthreemembersofourCouncilattheendoftheyear,HelenPearce,HelenNortonandJoEdwards.HelenPearcehasbeenmanagerofInterclub,MatchplayandassistanttoKayinmanagingPennant.HelenhasalsoruntheBowlseventsforthelasttwoyearsandhasshownherwonderfulorganisationalskillsinmanagingbookingsheetsfortheCouncileachweekandisalwaysavailabletoassistinanyarearequiredattheclub.HelenNortonhadahugejobasmanagerofcon‐currenteventswhichrequiredthecheckingofallcardseachweekaswellastheroleofTreasurerfortwoyears.HelenhasalsobeengenerouswithhertimeandskillsinprovidingbeautifulsucculentsforthelockerroomaswellasalargeonetorafflefortheOpenDay.JoEdwardsissteppingdownasTreasurerbecauseofanincreasingworkloadinvolvingherfamilybutwearedelightedtohearthatsheisstayingonaspartoftheSocialCommitteeandhelpingruntheverysuccessfulNineandDineprogram.JodidawonderfuljobsellingraffleticketseachweekandthesealongwithourOpenDayinSeptembermeantwewereabletogivetheMotorNeuroneDiseaseAssociation$11,000alongwiththeWoodlandsFoundationatotalof$3,675whichwasthegreenfeesfromthisverysuccessfulday.SpecialthanksmustalsogototheadministrationstaffLouiseCooperandGeorgiaCareyfortheefficientand professional manner in ensuring that all events ran smoothly. Also thanks to our new ManagerRichardTullbergandheadofFinanceNicoleTaylorwhoalongwiththeBoardarealwaystheretosupportusinourevents. TriciaMcCormackWomen’sPresident
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FromtheWomen’sCaptain Thewomen’snormalprogramofevents,playedonWednesdays,MondaysandSaturdays,includesmorethan60specialevents.ThenumberofwomenplayersseemstobefallingsoitisimportantthatweattractnewwomentotheClubandhelpthemfeelcomfortableinthefield.AclinicdaywasconductedinOctober2013whereover30womenreceivedadayofinstructionfromfourprofessionals.Anewmembers’daywasheldinMayforover20newwomentoplaywiththeCouncilandtomeeteachother.Ourmembershave also competedoutside the club, contesting clubBowls, Golf Victoria events and social exchanges,suchasourannualgamewithFlinders.SoonWoodlandswilltraveltoGrangeGCinAdelaideforateamchallenge. Atthebeginningof2014weexperiencedtheintroductionofSlopeandGAHandicaps.Howthissystemaffects thewomen’sevents in theclub is stillbeingworked through.At least theSlopesystemenablescompetitionstobeheldfromdifferentsetsoftees.Theestablishmentthisyearofourshortcourse,withJadetees,allowsthenewergolferstogainhandicapsoffashortercourse,andenjoytheirgolfmoreuntiltheirskillsimproveenoughtotackletheredtees.Wehaveevenintroducedanewevent–TheJadeTeeChampionship–whichshouldbegreatfunforeveryone.The Open Championship held in February was affected by extremely hot weather. Congratulations toTamara Singham who defeated Angela Dunn to win her first Club Championship. Tricia McCormack,JilanneDeeganandEricaJoneswontheMinor,C‐GradeandVeterans’Championshipsrespectively.Inthe2014PennantandMatchPlayCompetitionsWoodlandsfinishedcreditablyin6thand5thpositions.Avoidingrelegationcanbealmostasexcitingascontending for the topspot.Twenty twoplayerswereusedduringtheseason.BothteamsrepresentedWoodlandswithenthusiasmandallplayersenjoyedthechallengestogether.Manythankstothecaddies,andtoHelenPearce,ManageroftheMatchPlayteam.
Women’sMetropolitanPennantTeam Women’sMetropolitanMatchplayTeamDivision1 Division2
KayMahlook(Captain&Manager) HelenPearce(Manager)KerryArthurs MarnieArmstrongAngelaDunn KerryArthursJacquiFlinn JanCriswickJacquFurlong VickyDavey
CourtneyHaddon AngelaDunnBridgetHill JessieJiaJessieJia EricaJonesEricaJones KayMahlook
NadineMartin LynMerrickIndiaMatthews IndiaMatthewsMarikaPluta BevManallack
TamaraSingham KateMertaKathySmith BelindaPittsJulienneSoo MarikaPluta
INTERCLUBTheInterclubteamscompetitionisalsoveryimportantforClubmemberswithagreatteamspiritshownbythe15orsoSquadMembers.WoodlandsfinishedsecondtoCommonwealthinoursectionandcanbeveryproudofsuchagoodresult.HelenPearcewasagaintheenthusiasticanddiligentManager,assistedbyRobynCashion.IwouldliketothanktheWomen’sCouncil fortheirhardworkandsupport.Theyareagreatteamandthey know that I could not possibly do the job of Captain without them. On our big days – hostingPennant,hostingMatchPlay,theWoodlandsBowlandOpenDay– it isallhandsondeckfrom7amtillstumps.IthankthemallandhopethattheyenjoythecamaraderieofworkingonCouncil.
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Tricia McCormack is an amazing Women’s President, who not only fulfils her role with grace andefficiency, but she leads us all in dotting the i’s and crossing the t’s to make sure each event runssmoothly. Inaddition toherworkasWomen’sPresident,Tricia serveson theMembershipCommitteeand the Social Committee. Everyone should realise the huge amount of extra time she has given toinitiatingandco‐ordinatingfiveseriesofclinicsforbeginnerwomenundertheGive‐Golf‐a‐Goprogram.Thisprogram,with its follow‐up9hole games, has attractednewwomen to theClub, hashelpednewmembers to improve their golf and has created an environment to make new women players feelcomfortableandwelcomeatWoodlands. KayMahlookWomen’sCaptain
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MAJOREVENTWINNERSWecongratulatethefollowingMajorEventWinnersfrom2013/2014
MEN’SClubChampionship MattLedger
MinorChampionship GregHolman
CGradeChampionship BillRowley
JuniorChampionship DaleCrothers
SeniorChampionship MichaelMeneghini
BertClayTrophy MattLedger
BroomhallShield AaronCousins
J.R.LovettShield PercTowan
MayfieldTrophy DaleCrothers
WoodlandsShield MichaelMeneghini
AutumnTrophy RichardHerman
BlackThursday
LesSzabo,FrankCusmano,GrahamRoutandGeoffShields
Captains’Putter SteveMokryj
CatanachCup FrankPalinkas
ColinSimpsonTrophy ErnWerner
CountFonsecaTrophy BarryHibbert&RobertAddison
CrowBrothersTrophy BillRowley&WayneFox
DiggersCup BasilTierney
G.H.RogersShield WayneHirt
GressonCup&GaskellTrophy PaulMcKenna&BenMyers
M.C.PeelerScratchEvent MattLedger
MurrowoodShield FrankCusmano
NormAllenTrophy SteveMokryj
PercMorlingShield Su‐YongOh
PhilHoganTrophy CraigGreen
PrendergastTrophy TonyMacGeorge
President’sCup Mike&JoelDoutch
RichardsonBrothersTrophy SamHolland
S.H.WittTrophy FredJamieson
SpringTrophy PeterMeehan
StarMedallist MichaelMeneghini
SweeneyCup CliveO’Brien
MIXED
HarryGreenSalver Jo&TonyEdwards
HonoraryLifeMembersTrophy Kathy&MikeSmith,MargHolland&LyndonKennedy
LeonardHermanShield LeighWolany&JohnHobbs
MaxEiseTrophy LeighWolany&JohnHobbs
NewtonFamilyTrophy Kathy&MikeSmith
StillwellCup KayMahlook&GraemeGrant
TheWoodlandsFamilyTrophy Theresa&MartinFothergill
WOMEN’S
ClubChampionship TamaraSingham
MinorChampionship TriciaMcCormack
CGradeChampionship JilanneDeegan
VeteransChampionship EricaJones
HelenAmptCup EricaJones(2013)
GwenBalhornCup KayMahlook(2013)
JanBlandTrophy CarolVorrath
Captains’Cup TriciaMcCormack
DorisChambersFoursomes CourtneyHaddon&MargHolland
ColombieCup KarenKay
Grandmother’sTrophy AnneGreig
AliceLordingShield SueClarke&AnnRichardson(2013)
HelenLeonardCup ClaireSatchell(2013)
KayMahlookCup TamaraSingham(2013)
LinMyersCup JacquiFlinn
LinMyersSalver TriciaMcCormack
NanMooreTrophy HilaryMitchell
NineHolesStablefordCup LornaWalker(2013)
OlympicCup BevManallack(2013)
Presidents’PuttingCup KayMahlook(2013)
MollieRobbiePuttingCup MelindaThomas(2013)
MargaretRobertsonTrophy SueKerr(2013)
RodgersonTrophy“A” MargHolland(2013)
RodgersonTrophy“B” VenoraSmith(2013)
YonniRossTrophy LouiseSimpson(2013)
StablefordCup HilaryKahn(2013)
DorisStricklandMemorialFoursomes
CarolVorrath&SueKerr(2013)
SuperVeterans’Trophy LizCarter(2013))
ElsieWoodcockTrophy KarenKay&TamaraSingham
LoisWoodwardCup TheresaFothergill(2013)
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GOLFSUB‐COMMITTEE
Men’sandMixedGolfingProgramWoodlandshasanexcellentandwellbalancedgolfingprogramplayedovervaryingcompetitionformats.Inadditionto daily competitions of Stroke, Par and Stableford, the Club provides members with excellent opportunity toparticipateformajorcompetitions.AkeybenefitofmembershipatWoodlands for competitivegolfers is theopportunity to compete foranumberofMajorandTraditionalEvents.TheeventformatsandnumberofMajorandTraditionaleventsplayedduringayearcan sometimes place timing difficulties on scheduling events away from public holidays, pennant and coursemaintenance programs, etc. As part of a recent review to ease the pressure on scheduling events the followingchangeshavebeenmade:Club:54holeStrokeplaywithleading4qualifyingformatchplay.To6handicapBGrade:36holesStrokeplaywithleading4qualifyingformatchplay.Finalstobe36holes.7‐12handicapCGrade:36holesStrokeplaywithleading4qualifyingformatchplay13‐18handicapDGrade:36holesStrokeplaywithleading4(nett)qualifyingforhandicapmatchplaytoplayfortheWoodlandsShield19‐36handicapSenior:36holesStrokeplaywithleading4qualifyingformatchplaytoplayfortheNoelWatsonTrophyJunior:36holesStrokeplaywithleading4qualifyingformatchplaytoplayfortheMayfieldTrophyCountFonsecaTrophy:4pairsonlytoqualify&playinFebruary,March,AprilCaptains’Putter:StartearlierinyearPhilHoganTrophy:StartMay/JunePresident’sCup:StartearlierinyearAllmembersarestronglyencouragedtoparticipateincompetitionsplayedduringtheyearandhopefullyexperiencethejoythatcomeswithcompetinginandwinningamajorevent.JuniorGolfThe Club continues to strongly promote the development of junior golf and a number of juniors are activelyparticipatinginOpencompetitions.TheClubandthejuniorgolfdevelopmentgroupmanagedbySteveHorstmannwillcontinuetopromotejuniorgolfinan effort to encourage juniors into the game of golf. This year we encouraged sub juniors to play on Sundayafternoons with members rostered to supervise them on course. The members have endeavoured to promoteetiquette,coursecareandtheenjoymentofplayinggolf.Thankyoutoallmemberswhohavevolunteeredtheirtimeenablingthesuccessoftheprogramme.PennantTheClubwasrepresentedbythefollowingplayersintheGolfVictoriaPennantCompetitions.Seniors: Colts:ChrisWinkler© NickRamanathan©MattLedger DaleCrothersMattRixon JackDeftereos‐BrennanDarrenStafrace JamesFiddlerGraemeMcDougall AdamHesterJackDeftereos‐Brennan ScottMcKinnonDaleCrothers TaylorPope BrettColetta BryceRichardsonLachlanWhiteside MattRixonCornelisRibbe BrandonKay JeremyTing LachlanWhiteside MikiMatsumoto Manager: Manager:MikeO’Brien SteveHorstmann
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Juniors:Team1MikiMatsumotoJackDeftereos‐BrennanLachlanWhitesideJeremyTingHamishOakleyThomasMolinaroKelsonNguyenJamesMcLarenTeam2ThomasMolinaroJamesMcLarenAyaFujiwaraCoreyBurlLachlanBuschBenSmithBryceRadfordJamesCurtisThomasCurtisZacFatourosManagersonthedayThomasTingMikeSmithSeelanSingham2013/2014MonthlyMedals,Tankards&JuniorMedalsPleasegotowebsitelink,Events>BoardEvents>Mensforfulllistoftheseresults.Thankyoutomemberswhohavesupportedalllevelsofpennantasmanagersandcaddies–withoutyourcontinuedsupportandencouragementourteamswouldnotenjoythecamaraderiethatexistswithinourclub.Thankyoutothemembersofboththegolfandjuniorsubcommitteesandofcoursetoallstaffforyourtimeandsupportthroughouttheyear.SharonHobbsConvenor
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SOCIALSUB‐COMMITTEE Hopefullyin2013/2014wemetandexceededtheexpectationofmemberswiththevarietyandnumberofgolf‐socialevents,familyandmembersocialfunctions–Nine&Dines,SundayGolfBuffets,WoodlandsFamilyTrophyDay,NewMembersDay,Mother’sDayLuncheon,CasualFridayFamilyDinners,Degustation/WineDinner,MelbourneCupDay,KidsXmasPartyandXmasontheTerraceOurNine&Dineswereafantasticsuccessoverthesummermonths,atotalofteninallwithnumbersoneachnightexceeding100players.OurNine&DineTeamshouldbecongratulatedfortheirenthusiasminputtingtogetheraprogramofthemednightsandgreatprizes–lotsoffunandplentyoflaughs.WhatagreatwaytoshowcaseourClubtothemanyguestsandpotentialnewmemberswhoattended.WoodlandsFamilyTrophyandDinnerwasagreatsuccesswith60+familyteamscompetingwonbyafatherandsonteam–AndrewandJohnHobbs.DoesitgetanybetterthantowinaBoardeventwithoneofyourfamily‐wearelookingtohavea100+in2015.NewMembersDay‐A4BBBshotgunstartwithaBBQlunchontheTerrace‐agreatwayofwelcomingnewmemberstoourClubwhohavejoinedoverthepastyear.OurCasualFridayFamilyDinnershavebecomeanongoingsuccessstorywithupto170+members,kidsandguestsenjoyingafunandrelaxedevening.WhatbetterwaytoshowcasethetalentsofourHeadChefandhisTeamthanaDegustation/WineDinnerAgreatnightwashadbyall.MelbourneCup2013–whataterrificday–muffinsonarrival,golfandafabulous4courselunchtoppeditoffandtherewereplentyofwinners.AndtocloseouttheyearKidsXmasPartyagainwewereblessedwithgreatweather–lotsoffunforthekids,parentsandgrandparents.PlusXmasontheTerrace–agreattimetocatchupwithfriends,thebestTapasandyoucandancethenightaway.Manythankstoallourmemberswhohavesupportedthemanygolf/socialfunctions,itismuchappreciated.Don’tforgettoletushaveyourideasforfuturefunctions.AspecialthankstotheFoodandBeverageteam–wehaveallenjoyedyourgreatfoodandservice.LastlytoourhardworkingSocialSub‐Committee–manythanksforyourcommitment.
RobDeeganConvenor
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HERITAGESUB‐COMMITTEE The Heritage Groupmeetsmonthly on the 3rd Tuesday at 9.30am to continue with on‐going work ofcollatingvariousmemorabilia, that isdonatedor found, relating to thehistoryofWoodlandsGolfClub(formallyMordiallocGolfClubFoundedin1913).OurfilingsystemintheheritageroomcoversnumerouscategoriesoftheClub(eg.Administration,Land&Buildings,Course,Events,People&Publications),whereithasbeensimplifiedtofindanyitemthatisrequired.Ourdisplaysandphotographs/paintingsetc,aroundtheclubhouseallowmembersandvisitorstoseeourcollectionoftrophy’sandmemorabiliafromtheearlyyears.OurCentenarylastyearwasasuccessfuleventincorporatingourhistoricaldisplaysfrom1913onwards,andtheBoardandmanagementoftheClubaretobeheartilycongratulated.Ialsowishtothankeveryonewho assisted me with the various displays and to Paul Burgess who arranged a rolling slideshow ofmemorabilia which was greatly appreciated. The radio play of the formation of the Club, which wasorganisedbyafriendofMarjConstable,wasquiteaninnovationandenjoyedbyallwholistenedtoit.ACentenaryBookwillbepublishednextyearandwillbeavailable toanyonewhowishes topurchasethis,asitwillbeaworthymementoofourfirst100yearsofexistence.Ourgratefulthankstothemanymembers(pastorpresent)andfamilieswhohavecontributedsokindlywithitemsforWoodlandshistory,whichmakesourworksosatisfyingandworthwhile.Ourlibraryhostsagreatrangeofgolfingbookswhichcanbereadatthecluborborrowed(receptionwillnotedetailsofbookandmembers).Wewelcomeanymemberstojoinuswhoareinterestedinourclubshistory,ortoassistuswhenanextrapairofhandsisrequired.(Groupmembers–BillAtherton,GaryPowerlett, JimDowling, JohnSweeney,MarjConstable,AdrianCostigan,StanKeltie,LouiseCooper).Iwish toconveymy thanks toallpersonswhohaveassistedme thisyear,whichhasbeenbusy,butatrulyrewardingtime.Toourretireesthisyear–PaulBurgess,DavidQuinandPeterMaddox,thankyouforallyourmanyhoursandcontributionstothegroup–youwillbemissed.
KarenKayConvenor
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WOODLANDSFOUNDATIONTheBoardofTrusteesoftheWoodlandsFoundationmetatregularintervalsinthelastfinancialyearandarepleasedtoreportthecurrentfinancialsituation.Donationsmaybemadedirectly to theWoodlandsFoundation foraccumulationanddistributionby theBoardofTrustees.Thisstreamdoesnotattractataxdeduction. TheWoodlandsFoundationTrust2014AnnualReportTheWoodlandsFoundationTrustisabletoreportanotherexcitingandprofitableyear.Weareindebtedto ourmemberswho have once again supported our two special events. These events are now beingtimetabledinouryearlyfixture,andwilltakeplacelateMayandlateAugusteachyear.TheeventinMayattractsoutsidegolfersandisadvertisedwidely,bringingotherstoourwonderfulcourse.Thisevent isalsosupportedbyourmembers.TheFoundationisalsoindebtedtotheWoodlandsWomenCouncilfortheircontinuingsupportindonatingthegreenfee’sfromtheircharitydayeachyear.TheeventinlateAugustispurelyforourmembersandisgatheringmomentumasthemembersrealisethemanywaysinwhichtheFoundationisabletosupportthe‘greens’project,andwillcontinuetodoso,togetherwithotherworthwhileprojects.Last year’s report gave special mention to two of the Foundation’s founding members, Mrs MarjorieStevensonandMrBasilTierney.Itiswithgreatsadnessthatwerecordtheirdeathsduringtheyear.TheywillbegreatlymissedbyboththeFoundationandtheClub.
2014 2013$ $
CURRENT ASSETSCheques on Hand - - ANZ V2 Plus Account 31,935 35,012 Accounts Receivable 5,076 10,000 ANZ Bank Term Deposit due - - TOTAL CURRENT ASSETS 37,011 45,012
NON-CURRENT ASSETSANZ Shares at Market Value 16,037 13,032 BHP Billiton Shares at Market Value 23,694 20,704 Westpac Shares at Market Value 46,585 37,313 AMP Shares @ Market Value 15,423 11,794 TOTAL NON-CURRENT ASSETS 101,739 82,843
TOTAL ASSETS 138,750 127,855
CURRENT LIABILITIESAmount Owing for ANZ Shares - - TOTAL CURRENT LIABILITIES - -
TOTAL LIABILITIES - -
NET ASSETS 138,750 127,855
TRUST FUNDSContribution by Settlor 200 200 Beneficiary Account 138,550 127,655
TOTAL TRUST FUNDS 138,750 127,855
THE WOODLAND FOUNDATION PTY LTD
ABN 88 318 904 500BALANCE SHEET FOR THE YEAR ENDED 30 JUNE 2014
TRUSTEE FOR THE WOODLANDS FOUNDATION TRUST
2014 2013$ $
REVENUE Foundation Golf Day profits (May 2013) 5,419 6,741 Foundation Golf Day Raffle July 2013 3,649 - Foundation Golf Day July 2013 4,546 Donations 530 10,175 Donations - Women's Council 3,600 3,660 Interest - ANZ V2 Account 498 529 Dividends Received 4,805 4,064 Unrealised Gains - Share Values 14,942 13,798
TOTAL REVENUE 37,989 38,967
LESS EXPENSESASIC Annual Return 486 - Printing Foundation brochures 608 -
TOTAL EXPENSES 1,094 -
NET PROFIT/(LOSS) 36,895 38,967
Woodlands Golf Club
Opening Balance 1st July 127,655 88,688 Income Allocation 36,895 38,967
164,550 127,655
Less Contribution to 10th Green 25000Less Contribution to Glass Doors 1000
Closing Balance 30th June 138,550 127,655
PROFIT & LOSS STATEMENT
BENEFICIARY ACCOUNT
FOR THE YEAR ENDING 30 JUNE 2014
THE WOODLAND FOUNDATION PTY LTDTRUSTEE FOR THE WOODLANDS FOUNDATION TRUST
ABN 88 318 904 500
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Wearedelighted towelcomeMr JohnSweeney,MrGeevaRamanathan (PastPresidentofWoodlands)andMrJimCashionasTrustees.Tomy fellow trustees,MrBill Atherton,Mrs Carol Vorrath,Mr PeterMaddox andCaptainMr LindsayBrownIsayabig‘thankyou’foryourenergy,driveandabundanceofgreatideasthatconstantlyenlivenourFoundationmeetingsandevents.LeeWillsChairpersonTheWoodlandsFoundationTrust
ASFDONATIONSThe Boardwould like to thank theMemberswho have donated via the Australian Sports Foundationwhominclude:Memberswhoareinterestedcanobtainataxdeduction.DonationsshouldbemadethroughtheAustralianSportsFoundationspecifyingoneofthethreeregisteredprojects:
CourseDevelopment(Including19thCentenaryHole) WoodlandsAcademyofGolf(FacilitiesandPrograms/JuniorDevelopment)
MrLeslieDickson MrGraemeRobertsMrTerryEdwards MrLeighandMrsVickiRowlandsMrPeterJames MrBryanSolleyMrBrianO’Flaherty MrBasilTierney
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CORPORATEGOVERNANCETheBoardofWoodlandsGolfClub ischargedwiththeresponsibilityofensuringcorporategovernancewithrespecttobusinesspracticesoftheClub.BoardCompositionandTermofOfficeTheBoardiscomprisedofnineindependentmembers,includingthreeOfficers–Captain,PresidentandHonoraryTreasurerwhoareknownastheExecutive.EachOfficeriselectedforaoneyeartermandhalfoftheBoardiselectedeverytwoyears.Anymember(excludingJunior,Temporary,BusinessandCorporate)mayofferhim/herselfforelectiontoOfficeorBoard.Inseekingpotentialcandidates,theBoardlooksforabroadandcomplementaryrangeofskills and experience to aid it in fulfilling its responsibilities and in developing the Club’s strategicpriorities.BoardResponsibilityTheBoardmeetsonamonthlybasis fromFebruary toNovember,withoccasional additionalmeetingswherenecessary.TheGeneralManagerattendsallBoardmeetings.TheBoardisresponsiblefor:CompliancewiththeCorporationsLaw,theMemorandumofAssociationandtheArticlesofAssociation;EnsuringmanagementoftheClubconsistentlystrivestomeetthegoalsandobjectivesoftheClub;DevelopingandapprovingthestrategicdirectionoftheClub;AssistingManagementinestablishingandachievinggoals;Reviewingandapprovingannualbudgetsandcapitalexpenditure;Monitoringfinancialperformanceagainstbudget;Ensuringeffectivepoliciesandproceduresaredevelopedandreviewed;andApprovingmembershipapplicationsandcategorytransfers.MembersoftheBoardarerequiredtoconfirmtheireligibilitytoactasDirectorsatthecommencementofeachBoardmeeting.Sub‐CommitteesThe Club has established Sub‐Committees to act as a liaison between the Board and operationalperformance. The Sub‐Committees meet as required and act in an advisory capacity makingrecommendations to the Board on issues pertinent to their respective areas of expertise. Each Sub‐Committee is chaired by a member of the Board (with the exception of the Women’s Council andWoodlands Foundation), and othermembers are co‐opted as required. Relevant staffmembers attendSub‐CommitteemeetingsastheManagementliaison.Sub‐Committeesactiveduringthefinancialyearendedon30June2014were:Executive Chairman: L.J.BrownMembers: J.Etherington,M.FothergillFinanceConvenor: J.EtheringtonMembers: L.J.Brown,J.Carroll,S.Crockett,M.Fothergill,S.SinghamCourseConvenor: L.J.BrownMembers: M.Doutch,M.Fothergill,R.J.Gribusts,K.Mahlook,J.Porter,D.StafraceGolfConvenor: S.R.HobbsMembers: L.J.Brown,M.Doutch,J.L.Horton,K.Mahlook,G.McMillan,G.Powerlett,M.SmithJuniorDevelopmentConvenor: S.R.HobbsMembers: K.Mahlook,C.Richardson,M.Smith,S.Horstmann
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MembershipConvenor: M.FothergillMembers: L.J.Brown,R.M.Deegan,J.L.Horton,,K.Clarke,T.Edwards,B.Hibbert,P.Maddox,
T.McCormack,L.Pavone,B.Pitts,L.Simpson,G.Tansey,SocialConvenor: R.M.DeeganMembers: J.Cashion,W.Ford,J.L.Horton,T.McCormack,G.M.TanseyStrategicPlanningConvenor: L.J.BrownMembers: J.Compton,J.Etherington,M.Fothergill,S.R.Hobbs,G.McMillan,S.McCormack,T.RijsCommunicationandServiceConvenor: M.FothergillWomen’sCouncilCaptain: K.MahlookPresident: T.McCormackSecretary: S.GollingsMembers: R.Cashion,S.Clarke,J.Edwards,H.Norton,H.C.PearceWoodlandsFoundationChairman: L.E.WillsMembers: W.L.Atherton,L.J.Brown,P.Maddox,C.Vorrath CaptainandGeneralManagerTheCaptain is responsible for leading theBoardandensuring that theBoardandSub‐Committeesareeffectivelyandefficientlymanaged.TheGeneralManagerisresponsiblefortheimplementationofapprovedstrategiesandpoliciesaswellastheeffectivemanagementofstaff.CorporateReportingTheHonoraryTreasurerandtheCaptainannuallymakethefollowingrepresentationtotheBoard:ThatthefinancialstatementsarecompleteandpresentatrueandfairviewofthefinancialpositionandoperatingresultoftheClub;ThattheycomplywiththeCorporationsLawandAccountingStandards;That there is reasonable grounds to believe that theClub can pay its debts as andwhen they becomepayable.TheAuditor’sreportispresentedtomembersintheAnnualReport.ConflictsofInterestBoardmembersarerequiredtocomplywithallrelevantsectionsoftheCorporationsAct2001,wherebyconflictsofinterest(realorapparent)mustbedeclaredtotheBoard.BoardmembersareprohibitedbytheArticlesinhavinganinterestinanycontractorproposedcontractwiththeClub.RemunerationandPerformanceAppraisalofStaffSalariesandotherbenefits of seniormanagement are approvedby theBoard. Seniormanagement aresubjecttoaformalannualperformanceappraisalbytheExecutiveand/orSubCommitteeConvenors.
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BOARD’SSTATUTORYREPORTInaccordancewithaResolutionoftheBoardpassedon27August2014,theBoardsubmitstheirReportfortheyearended30June2014.
1. TheMembersoftheBoardofWoodlandsGolfClubatanytimeduringorsincetheendoftheyearare:QualificationsandSpecialResponsibilities
L.J.BROWNCharteredAccountant
Captain,Executive,Course,Finance,GolfandStrategicPlanning
M.FOTHERGILLRetired
President,Executive,Communication&Service,Finance,MembershipandStrategicPlanning(AppointedAug2013)
J.ETHERINGTONCharteredAccountant
HonoraryTreasurer,Executive,FinanceandStrategicPlanning
J.CARROLLConsultant/CharteredAccountant
Finance(AppointedJune2014)
R.DEEGANCompanyDirector
MembershipandSocial
M.DOUTCHCompanyDirector
CourseandGolf(AppointedJune2014)
R.J.GRIBUSTSLocalGovernmentOfficer
Course(ResignedMay2014)
S.R.HOBBSRetired
Golf,JuniorDevelopmentandStrategicPlanning(ElectedNov2013)
J.L.HORTONRetired
Golf,MembershipandSocial
G.G.MACMILLANAssociatePlanningDirector
GolfandStrategicPlanning(RetiredNov2013)
G.POWERLETTCompanyDirector
Golf(ElectedNov2013,ResignedMay2014)
G.M.TANSEYRegionalExecutive
MembershipandSocial
P.D.TESSIERAdvertisingExecutive
Communication&Service(RetiredNov2013)
MembersoftheBoardhavebeeninofficesincethestartofthefinancialyeartodateofthisreportunlessotherwisestated
2. Thefollowingpersonheldthepositionofentitysecretaryattheendofthefinancialyear:MrJohnEtherington–CharteredAccountant.MrEtheringtonhasbeenontheBoardsince2010,havingbeenelectedHonoraryTreasurer
3. Theprincipal activities of the Club during the financial yearwere to provide amenities for its
membersbywayofgolfandclubhousefacilitiesandtherewerenosignificantchangesinthoseactivitiesduringtheyear.
4. ThedeficitoftheClubforthefinancialyearwas($248,152).
5. A detailed review of the Club’s operations during the year is contained in the Captain’s and
Treasurer’sReports.
6. Nosignificantchangesintheentitysstateofaffairsoccurredduringthefinancialyear.
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7. Therewerenomajorcapitalexpenditurepurchasesduringthe2013‐14financialyear.
8. DuringthefinancialyeartheClubpaidapremiumof$3,267toinsureeachBoardmemberagainst
liabilityforcostsandexpensesincurredbythemindefendinganylegalproceedingsarisingoutoftheirconductwhileactinginthecapacityofaBoardmemberoftheClub,otherthanconductinvolvingwilfulbreachofdutyinrelationtotheClub.
9. No person has applied for leave of the Court to bring proceedings on behalf of the Club or
interveneinanyproceedingstowhichtheClubisapartyforthepurposeoftakingresponsibilityonbehalfoftheClubforalloranypartofthoseproceedings.
10. Noindemnitieshavebeengivenorinsurancepremiumspaidduringtheyearorsincetheendof
thefinancialyear,foranypersonwhoisorhasbeenanauditoroftheClub.
11. The Club’s operations are in accordance with any particular and significant environmentalregulationunderalawoftheCommonwealthorStateorTerritory.
12. TheAuditor’s IndependenceDeclarationunder307CofTheCorporationsAct2001, isenclosed
andformspartoftheBoard’sStatutoryReportfortheyearended30June2014.
13. Boardmeetingsheldduringthefinancialyearwereasfollows:
MeetingsAttended
MeetingsHeldDuring
TermL.J.Brown 9 10M.Fothergill 10 10J.Etherington 10 10J.Carroll 1 1R.Deegan 9 10M.Doutch 1 1R.J.Gribusts 5 8S.R.Hobbs 7 7J.L.Horton 8 10G.G.MacMillan 3 3G.Powerlett 4 6G.M.Tansey 9 10P.D.Tessier 3 3
SignedforandonbehalfoftheBoard: L.J.BROWN J.ETHERINGTON Captain HonoraryTreasurerDated: 27August2014
26
BOARDDECLARATIONTheBoardoftheClubDECLARESTHAT:
1. The financial statements and notes, being the Statement of Financial Position, Statement ofComprehensive Income, Statement of Cash Flows, Statement of Changes in Equity andaccompanyingnotesareinaccordancewiththeCorporationsAct2001,and:
(i) complywithAccountingStandardsandwiththeCorporationsRegulations2001;and(ii) give a true and fair view of the financial position as at 30 June 2014 and of the
performancefortheyearendedonthatdate,oftheClub.
2. IntheBoard’sopiniontherearereasonablegroundstobelievethattheClubwillbeabletopayitsdebtsasandwhentheybecomedueandpayable.
Thisdeclaration ismade inaccordancewitharesolutionof theBoardand issigned forandonbehalfoftheBoardby:
L.J.BROWN J.ETHERINGTON Captain HonoraryTreasurer Dated: 27August2014
27
WOODLANDSGOLFCLUBA.B.N.98004119822A.C.N.004119822
Note 2014 2013
$ $
REVENUE FROM ORDINARY ACTIVITIES
Revenue from Operating Activities 2 4,778,617 4,671,439
Revenue from Non-Operating Activities 2 38,237 74,140
TOTAL REVENUE FROM ORDINARY ACTIVITIES 4,816,854 4,745,579
EXPENSES FROM ORDINARY ACTIVITIES
Expenses from Operating Activities
Cost of Goods Sold 742,221 645,505
House Expenses 795,576 709,276
Golf Services Expenses 499,885 437,912
Clubhouse Expenses 511,604 502,097
Administration Expenses 847,970 718,417
Course Expenses 1,394,016 1,391,981
Donation to the Woodlands Foundation - 7,000
4,791,272 4,412,188
PROFIT FROM ORDINARY ACTIVITES BEFORE INTEREST 25,582 333,391
INTEREST EXPENSE 3 273,735 331,414
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES BEFORE INCOME TAX EXPENSE 2,3 (248,152) 1,977
Income Tax Relating to Ordinary Activities 1(b) - -
NET PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER INCOME TAX EXPENSE (248,152) 1,977
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO MEMBERS OF THE ENTITY (248,152) 1,977
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2014
The accompanying notes form part of these financial statements
28
WOODLANDSGOLFCLUBA.B.N.98004119822A.C.N.004119822
Note 2014 2013
$ $
CURRENT ASSETS
Cash and Equivalents 4 375,038 810,321
Trade and Other Receivables 5 133,895 131,422
Inventories 6 127,358 146,686
Other 7 33,246 32,462
TOTAL CURRENT ASSETS 669,537 1,120,891
NON-CURRENT ASSETS
Property, Plant and Equipment 8,9 8,867,588 9,336,927
Trade Receivables 5 47,809 51,054
TOTAL NON-CURRENT ASSETS 8,915,397 9,387,981
TOTAL ASSETS 9,584,934 10,508,872
CURRENT LIABILITIES
Trade and Other Payables 10 294,140 225,129
Borrowings 11 1,158,009 422,760
Provisions 12 192,790 182,525
Other 13 431,646 774,024
TOTAL CURRENT LIABILITIES 2,076,585 1,604,438
NON-CURRENT LIABILITIES
Borrowings 14 3,007,345 4,165,354
Provisions 15 18,096 8,021
TOTAL NON-CURRENT LIABILITIES 3,025,441 4,173,375
TOTAL LIABILITIES 5,102,026 5,777,813
NET ASSETS 4,482,907 4,731,059
MEMBERS' FUNDS
Accumulated Funds 22 4,482,907 4,731,059
TOTAL MEMBERS' FUNDS 4,482,907 4,731,059
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2014
The accompanying notes form part of these financial statements
29
WOODLANDSGOLFCLUBA.B.N.98004119822A.C.N.004119822
Note 2014 2013
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Club Operations 4,783,874 4,795,196
Payments to Suppliers and Employees (4,191,907) (3,947,430)
Change in Fees in Advance (342,378) (199,614)
Interest Paid (Net) (263,672) (305,037)
Other Income 25,200 26,045
NET CASH PROVIDED BY OPERATING ACTIVITIES 21(b) 11,117 369,159
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for Property, Plant and Equipment: (26,000) (100,720)
Work In Progress (3,418) (38,942)
19th Hole Donations 5,779 36,081
Proceeds from Sale of Plant and Equipment - 18,000
NET CASH USED IN INVESTING ACTIVITIES (23,639) (85,581)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Borrowings - 22,035
Repayment of Borrowings (422,760) (520,924)
NET CASH FROM FINANCING ACTIVITIES (422,760) (498,889)
NET INCREASE/(DECREASE) IN CASH HELD (435,282) (215,311)
CASH AT THE BEGINNING OF THE FINANCIAL YEAR 810,321 1,025,631
CASH AT END OF THE FINANCIAL YEAR 21(a) 375,038 810,321
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2014
The accompanying notes form part of these financial statements
30
WOODLANDSGOLFCLUBA.B.N.98004119822A.C.N.004119822
Retained Earnings Total
$ $
Balance at 1 July 2012 4,729,082 4,729,082
Profit attributable to the entity 1,977 1,977
Balance at 30 June 2013 4,731,059 4,731,059
Profit attributable to the entity (248,152) (248,152)
Balance at 30 June 2014 4,482,907 4,482,907
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2014
The accompanying notes form part of these financial statements
31
NotestotheFinancialStatementsfortheyearended30June2014
1. StatementofSignificantAccountingPoliciesThe financial report isa generalpurpose report thathasbeenprepared inaccordancewithAustralianAccounting Standards (including Australian Accounting Interpretations) of the Australian AccountingStandardsBoardandtheCorporationsAct2001.The financial report is for the entityWoodlandsGolfClub as an individual entity.TheWoodlandsGolfClubisacompanylimitedbyguarantee,incorporatedanddomiciledinAustralia.(a) BasisofPreparationThefinancialreporthasbeenpreparedonanaccrualsbasisandisbasedonhistoricalcostsanddoesnottake into account changing money values or, except where stated, current valuations of non‐currentassets.Costisbasedonthefairvaluesoftheconsiderationgiveninexchangeforassets.The following isasummaryof thematerialaccountingpoliciesadoptedbytheWoodlandsGolfClub inpreparation of the financial report. The accounting policies have been consistently applied, unlessotherwisestated.(b) IncomeTaxTheClub’sprofitsareexempt from incometaxunderSection50‐45of the IncomeTaxAssessmentAct1997.(c)Property,PlantandEquipmentProperty, plant and equipment is brought to account at cost less any accumulated depreciation andimpairmentlosses.Allfixedassetsexcludingfreeholdlandaredepreciatedonprimecostbasisovertheirrespectiveusefuleconomic lives.Thecarryingamountsofnon‐currentassetsarereviewedannually todetermine whether they are in excess of their recoverable amount at balance date. The recoverableamountisassessedonthebasisoftheexpectednetcashflowswhichwillbereceivedfromitscontinueduse and subsequent disposal. In assessing recoverable amounts the relevant cash flowshavenot beendiscountedtotheirpresentvalue.Specificdonationsreceivedtopurchasefixedassetsareoffsetagainstthecostofthoseassets.(d) DepreciationThe depreciable amount of all fixed assets including buildings, but excluding freehold land, aredepreciatedona straight linebasisover their estimateduseful lives to theClubcommencing fromthetimetheassetisheldreadyforuse.Thedepreciationratesusedforeachclassofassetforthecurrentandpreviousyearareasfollows:CLASSOFFIXEDASSET DEPRECIATIONRATEBuildings 2.00%to10.00%PlantandEquipment 5.00%to33.33%FurnitureandFittings 5.00%to20.00%MotorVehicle 10.00%(e) InventoriesInventoriesarevaluedatthelowerofcost,ornetrealisablevalue.
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
32
(f) EmployeeEntitlementsWagesandEmployeeEntitlementsWage costs include employee entitlements to wages and annual leave. Wage costs also incorporatestatutory charges including fringe benefits tax, payroll tax, workcover premium, training as well asuniformcosts.ProvisionismadefortheClub’sliabilityforemployeeentitlementsexpectedtobesettledwithinoneyear,togetherwithentitlementsarisingfromsalariesandwagesandannualleavewhichwillbesettledafteroneyear,measuredattheirnominalamounts.Otheremployeeentitlementspayablelaterthan one year have beenmeasured at their present value of the estimated future cash outflows to bemadeforthoseentitlements.Longserviceleavehasbeenmeasuredbasedontheliabilityexpectedtobeincurredforemployeeswithmorethanfiveyearsserviceasatbalancedate.Employeeswithsevenyearsofcontinuousservicearedisclosedasacurrentliability,whilethoseemployeeswithbetweenfiveandsixyearsofcontinuousservicearedisclosedasanon‐currentliability.Provisionsincludeon‐costsofpayrolltax,superannuationandworkcover.SuperannuationContributionsaremadebytheClubtoemployeesuperannuationfundsandarechargedwhenexpensesareincurred.(g) CashFor thepurposesof theStatementofCashFlows,cash includes cashonhandandat calldepositswithbanksorfinancialinstitutions,investmentsinmoneymarketinstrumentsmaturinglessthantwomonths,netofbankoverdrafts. (h) RevenueMembers annual subscriptions are billed twomonths in advance and are recognised in the period towhichthesubscriptionsrelate.Entrance fee income isrecognisedat the timemembershipcommences.Revenue from rendering of a service is recognised upon delivery of the service to the members orexternal customers. Interest revenue is recognisedwhen earned taking into account the interest ratesapplicabletothefinancialassets.(i) GoodsandServicesTax(GST)Revenues,expensesandassetsarerecognisednetoftheamountofGST,exceptwheretheamountofGSTincurred is not recoverable from the Australian Taxation Office. In these circumstances, the GST isrecognisedaspartofthecostoftheacquisitionoftheassetoraspartofanitemofexpense.ReceivablesandpayablesintheBalanceSheetareshowninclusiveofGST.
(j) ImpairmentofAssetsAt each reporting date, the Club reviews the carrying values of its tangible and intangible assets todetermine whether there is an indication that those assets have been impaired. If such an indicationexists,therecoverableamountoftheasset,beingthehigheroftheasset’sfairvaluelesscoststosellandvalue inuse, iscomparedtotheasset’scarryingvalue.Anyexcessof theasset’scarryingvalueover itsrecoverableamountisexpensedtotheIncomeStatement.
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
33
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
2013 2014$ $
2. REVENUE FROM ORDINARY ACTIVITIESIncluded in the Operating Profit/(Loss) are the following items of Operating Revenue:
Membership 2,450,813 2,498,859
Trading 2,018,780 1,846,362
Building Levy 309,024 326,218
4,778,617 4,671,439
Non-Operating ActivitiesProfit on Sale of Assets - 18,000 Interest 13,037 30,095 Woodlands Foundation Donation 25,000 - Other 200 26,045
38,237 74,140
Total Revenue from Ordinary Activities 4,816,854 4,745,579
3. PROFIT/(LOSS) FROM ORDINARY ACTIVITIESProfit/(Loss) from Ordinary Activities before Income Tax Expense has been determined after the inclusion of the following charges:
Auditor's Remuneration 12,850 10,810
Depreciation - Buildings, Plant and Equipment and Motor Vehicles 486,699 507,918
Provision for Annual Leave 3,356 5,514
Provision for Long Service Leave 16,984 10,958
Operating Lease Rentals 156,144 155,038
HP Charges 3,609 3,340
Bad Debts - -
Member Deposit Interest Paid 57,000 63,482
Clubhouse Funding Interest Paid 216,735 267,932
4. CASH AND EQUIVALENTS
Cash on Hand 5,672 5,672
Cast at Bank - ANZ Cheque Account 212,458 351,317
Cash at Bank - ANZ Online Saver Account 155,088 451,416
Ladies' Charity Account 1,821 1,916
Term Deposits - -
375,038 810,321
5. TRADE AND OTHER RECEIVABLES
Member Debtors - Current 93,380 90,215
Member Debtors - Non Current 47,809 51,054
Sundry Debtors 40,515 41,207
181,704 182,476
6. INVENTORIES
Bar 57,436 59,368
Golf Shop 69,921 87,318
127,358 146,686
7. OTHER CURRENT ASSETS
Prepayments 33,056 31,637
Accrued Interest 190 825
33,246 32,462
34
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
2014 2013
$ $
8. PROPERTY, PLANT AND EQUIPMENT
Land, Buildings and Improvements
At Cost 10,840,699 10,762,888
Less Accumulated Depreciation 2,548,741 2,169,898
8,291,958 8,592,990
Plant and Equipment
At Cost 1,448,838 1,429,349
Less Accumulated Depreciation 1,175,044 1,091,395
273,794 337,954
Furniture and Fittings
At Cost 406,081 406,081
Less Accumulated Depreciation 142,404 124,929
263,677 281,152
Motor Vehicles
At Cost 120,726 120,726
Less Accumulated Depreciation 82,568 76,292
38,158 44,434
Work in Progress
At Cost - 80,397
Less Accumulated Depreciation - -
- 80,397
TOTAL PROPERTY, PLANT AND EQUIPMENT 8,867,588 9,336,928
9. RECONCILIATIONSReconciliation of the carrying amount for each class of property, plant and equipment between the beginning and the end of the current financial year are set out below:
Land, Buildings and Improvements
Carrying amount at beginning of the year 8,592,989 8,907,375
Additions 5,775 64,683
Transfers 77,816 15,000
Donations (5,779) -
Depreciation (378,843) (394,069)
8,291,957 8,592,989
Plant and Equipment
Carrying amount at beginning of the year 337,954 419,666
Additions 20,206 9,262
Disposals/Writeoffs (262) -
Depreciation (84,104) (90,975)
273,794 337,954
Furniture and Fittings
Carrying amount at beginning of the year 281,152 298,138
Additions - 700
Depreciation (17,475) (17,685)
263,677 281,152
35
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
2014 2013
$ $
9. RECONCILIATIONS (cont.)Reconciliation of the carrying amount for each class of property, plant and equipment between the beginning and the end of the current financial year are set out below:
Motor Vehicles
Carrying amount at beginning of the year 44,434 23,549
Additions - 26,075
Depreciation (6,276) (5,190)
38,158 44,434
Work in Progress
Carrying amount at beginning of the year 80,397 92,536
Additions 3,418 38,942
Transfers (77,816) (15,000)
Disposals/Writeoffs (6,000) -
Donations - (36,081)
- 80,397
Total Property, Plant and Equipment
Carrying amount at beginning of the year 9,336,927 9,741,265
Additions 29,399 139,662
Disposals/Writeoffs (6,262) -
Donations (5,779) (36,081)
Depreciation (486,699) (507,919)
8,867,588 9,336,927
Asset Revaluations
There were no asset revaluations conducted throughout the 2013/2014 financial year
10. TRADE AND OTHER PAYABLES
Trade Creditors and Accruals 231,565 166,380
Ball and Trophy Credits 62,575 58,749
294,140 225,129
11. CURRENT BORROWINGS
ANZ Commercial Bill - Current Liability 400,000 400,000
Member Interest Bearing Deposits 750,000 -
Hire Purchase 8,009 22,760
1,158,009 422,760
12. CURRENT PROVISIONS
Provision for Annual Leave 158,149 154,793 Provision for Long Service Leave 34,641 27,732
192,790 182,525 13. OTHER CURRENT LIABILITIES
Subscriptions and Fees Received in Advance 431,646 774,024
14. NON-CURRENT BORROWINGS
ANZ Commercial Bill - Non Current Liability 2,800,000 3,200,000
Member Interest Bearing Deposits 200,000 950,000
Hire Purchase 7,345 15,354
3,007,345 4,165,354
15. NON-CURRENT PROVISIONS
Provision for Long Service Leave 18,096 8,021
18,096 8,021
36
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
2014 2013
$ $
16. COMPANY LIMITED BY GUARANTEE
The Club is a company limited by guarantee. Pursuant to the Memorandum of Association, the liability of members is limited, whereby in the event of the Club being wound up, every Member undertakes to contribute an amount not exceeding $12.60.
17. RELATED PARTIES
The Board members in office during the financial year were:
L.J.Brown S. Hobbs (elected November 2013)
J. Carroll (appointed June 2014) J.L. Horton R.Deegan G.G.MacMillan (retired November 2013)
M. Doutch (appointed June 2014) G. Powerlett (elected Nov 2013; resigned May 2014)
J. Etherington G.M.Tansey
R. J. Gribusts (resigned May 2014) P.D. Tessier (retired November 2013)
M. Fothergill (appointed August 2013)
All members of the Board are acting in an honorary capacity and do not receive any remuneration or other benefits, with the exception of those Directors whose related entities have advanced Member Interest Bearing Deposits of $200,000 on terms and conditions available to all members
18. FINANCING ARRANGEMENTS
The Club has an overdraft facility with a limit of: 75,000 75,000
Unused Facility at Balance Date 75,000 75,000
The Club has a Commercial Bill Line of Credit with a limit of: 4,500,000 4,500,000
Unused Facility at Balance Date 1,300,000 900,000
The ANZ Bank holds a Registered 1st Mortgage and debenture charge over the assets of the Club as security for these facilities.
The Club holds Member Interest Bearing Deposits to the value of: 950,000 950,000
19. CAPITAL AND LEASING COMMITMENTS
Operating Lease Commitments
The Club currently holds a non-cancellable operating lease contracted for but not capitalised in the financial statements.
Payable - Photocopier
- not later than 1 year 2,032 4,620
- later than 1 year but not later than 5 years - 2,032
2,032 6,652
Commencing July 2011, the Club entered into a course equipment Master Rental Agreement with De Lage Landen Pty Ltd for a term of 60 months
Payable
- not later than 1 year 167,139 164,219
- later than 1 year but not later than 5 years 215,648 267,252
382,786 431,471
20. SEGMENT REPORTING
The Club operates as a golf club in Australia.
37
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
2014 2013
$ $
21. CASH FLOW INFORMATION
(a) Reconciliation of CashCash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:
Cash includes:
Cash on Hand 5,672 5,672
Cash at Bank and at Call 369,366 804,649
375,038 810,321 (b) Reconciliation of Cash Flow from Operations with Profit/(Loss) from Ordinary Activities after Income Tax
Profit from Ordinary Activities after Income Tax (248,152) 1,977
Depreciation 486,699 507,918
(Profit)/Loss on Disposal of Assets - (18,000)
Change in Assets and Liabilities
(Increase)/Decrease in Assets
Receivables 6,772 127,841
Prepayments (1,419) (3,500)
Inventories 19,328 23,973
Other Current Assets 635 (378)
(Decrease)/Increase in Liabilities
Trade Creditors 65,280 (94,982)
Subscriptions and Levies Received in Advance (342,378) (199,614)
Ladies Charity Account (95) (584)
Ball and Tropy credits 4,107 8,037
Provision for Employee Entitlements 20,340 16,472
11,117 369,160
22. ACCUMULATED FUNDS
Accumulated Funds at Beginning of the Financial Year 4,731,059 4,729,082
Net Profit attributable to members of the company ( 248,152) 1,977
Accumulated Funds at End of Financial Year 4,482,907 4,731,059
38
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED30JUNE2014
23. FINANCIAL INSTRUMENTS
(a) Interest Rate Risk
The Club manages its interest rate risk through a combination of borrowings with a fixed interest rate and a capped variable rate
For the year ended 30 June 2014Less Than One
YearOne to Five
Years Total
Weighted Average
Note $ $ $ Interest Rate
Interest Bearing Financial Assets:
Cash at Bank Variable Rates 4 155,088 155,088 2.25%
Non Interest Bearing Financial Assets:
Cash on Hand and at Bank 4 219,950 219,950
Trade and Other Receivables 5 133,895 47,809 181,704
Interest Bearing Financial Liabilities
Bank Debt Fixed Rates 11,14 200,000 1,400,000 1,600,000 7.84%
Bank Debt Variable Rates 11,14 200,000 1,400,000 1,600,000 5.54%
Member Deposits Fixed Rates 14 750,000 200,000 950,000 6.00%
Hire Purchase Fixed Rates 11,14 8,009 7,345 15,354 7.50%
Non Interest Financial Liabilities
Trade and Other Payables 10 294,140 294,140
For the year ended 30 June 2013Less Than One
YearOne to Five
Years Total
Weighted Average
Note $ $ $ Interest Rate
Interest Bearing Financial Assets:
Cash at Bank Variable Rates 4 451,416 451,416 2.25%
Non Interest Bearing Financial Assets:
Cash on Hand and at Bank 4 358,905 358,905
Trade and Other Receivables 5 131,422 51,054 182,476
Interest Bearing Financial Liabilities
Bank Debt Fixed Rates 11,14 200,000 1,600,000 1,800,000 8.08%
Bank Debt Variable Rates 11,14 200,000 1,600,000 1,800,000 5.94%
Member Deposits Fixed Rates 14 950,000 950,000 6.00%
Hire Purchase Fixed Rates 11,14 22,760 15,354 38,114 7.50%
Non Interest Financial Liabilities
Trade and Other Payables 10 225,129 225,129
(b) Credit and Liquidity Risk 24. COMPANY DETAILS
The Club does not have any material credit risk exposure to any single debtor. The Club's liquidity risk is minimised through the receipt of subscriptions in advance
The registered office of the Club is Woodlands Golf Club, White Street, Mordialloc, Victoria 3195.
The principal place of business is Woodlands Golf Club, White Street, Mordialloc, Victoria 3195.
39
Auditor’sIndependenceDeclarationUnderSection307CoftheCorporationsAct2001
TOTHEBOARDOFWOODLANDSGOLFCLUBIdeclarethat,tothebestofmyknowledgeandbeliefthatduringtheyearended30June2014therehasbeen:
(i) nocontraventionsof theauditor independencerequirementsassetout intheCorporationsAct2001inrelationtotheaudit;and
(ii) nocontraventionsofanyapplicablecodeofprofessionalconductinrelationtotheaudit. MORTON,WATSON&YOUNG KerpalSHarnam CharteredAccountants Partner 51RobinsonStreet DandenongVictoria3175 Dated:
IndependentAuditReporttotheMembersofWoodlandsGolfClubReportontheFinancialReportWehave audited the accompanying financial statements ofWoodlandsGolf Club,which comprises thestatementoffinancialpositionasat30June2014,andthestatementofcomprehensiveincome,statementofchangesinequityandstatementofcashflowsfortheyearendedonthatdate,asummaryofsignificantaccounting policies and other explanatory notes and the Board’s declaration of Woodlands Golf Clubduringthefinancialyear.Boards’ResponsibilityfortheFinancialReportTheBoardofWoodlandsGolfClubisresponsibleforthepreparationandfairpresentationofthefinancialreport in accordance with Australian Accounting Standards (including the Australian AccountingInterpretations)andtheCorporationsAct2001.Thisresponsibilityincludesdesigning,implementingandmaintaininginternalcontrolsrelevanttothepreparationandfairpresentationofthefinancialreportthatis free frommaterialmisstatementwhether due to fraud or error; selecting and applying appropriateaccountingpolicies;andmakingaccountingestimatesthatarereasonableinthecircumstances.Auditor’sResponsibilityOurresponsibilityistoexpressanopiniononthefinancialreportbasedonouraudit.Weconductedouraudit in accordance with Australian Auditing Standards. These Auditing Standards require that wecomplywithrelevantethicalrequirementsrelatingtoauditengagementsandplanandperformtheaudittoobtainreasonableassurancewhetherthefinancialreportisfreefrommaterialmisstatement.Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthefinancialreport.Theproceduresselecteddependontheauditor’sjudgment,includingtheassessmentof the risksofmaterialmisstatementof the financial report,whetherdue to fraudor error. Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheentity’spreparationandfairpresentation of the financial report in order to design audit procedures that are appropriate in thecircumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’sinternalcontrol.AnauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesmadebytheBoard,aswellasevaluatingtheoverallpresentationofthefinancialreport.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.
40
IndependenceInconductingouraudit,wehavecompliedwiththeindependencerequirementsoftheCorporationsAct2001.WeconfirmthattheindependencedeclarationrequiredbytheCorporationsAct2001,providedtotheBoardofWoodlandsGolfClub,wouldbeinthesametermsifprovidedtotheBoardasatthedateofthisauditor’sreport. Auditor’sOpinionIn our opinion, the financial report presents fairly, in all material respects, the financial position ofWoodlandsGolfClubasof30June2014,anditsfinancialperformanceandcashflowsfortheyearthenendedinaccordancewiththeCorporationsAct2001andtheAustralianAccountingStandards(includingAustralianAccountingInterpretations). MORTON,WATSON&YOUNG KerpalSHarnam CharteredAccountants Partner 51RobinsonStreet DandenongVictoria3175 Dated:
41
SEGMENTALFINANCIALREPORT FORTHEYEARENDEDJUNE2014
Membership Trading Finance Other Total
REVENUEAnnual Subscriptions 1,982,030 1,982,030 Entrance Fees 96,083 96,083 Membership Services 372,700 372,700 Green Fees 309,441 309,441 Food and Beverage 1,447,695 1,447,695 Golf Retail 261,644 261,644 Building Levy 309,024 309,024 Other Income 38,237 38,237
2,450,813 2,018,780 347,261 4,816,854 EXPENSESAdministration and General 847,970 847,970 Clubhouse 511,604 511,604 Course Maintenance 1,394,016 1,394,016 Golf Services 499,885 499,885 Food and Beverage 543,928 543,928 House Expenses 795,576 795,576 Golf Retail 198,293 198,293 Interest Paid 273,735 273,735 Donation to Woodlands Foundation -
3,253,474 1,537,797 273,735 5,065,007
NET SURPLUS/(DEFICIT) (802,661) 480,983 73,526 (248,152)
Membership Trading Finance Other Total
REVENUEAnnual Subscriptions 2,017,266 2,017,266 Entrance Fees 123,077 123,077 Membership Services 358,516 358,516 Green Fees 295,809 295,809 Food and Beverage 1,311,953 1,311,953 Golf Retail 238,600 238,600 Building Levy 326,218 326,218 Other Income 74,140 74,140
2,498,859 1,846,362 400,358 4,745,579 EXPENSESAdministration and General 718,417 718,417 Clubhouse 502,097 502,097 Course Maintenance 1,391,981 1,391,981 Golf Services 437,912 437,912 Food and Beverage 480,163 480,163 House Expenses 709,276 709,276 Golf Retail 165,342 165,342 Interest Paid 331,414 331,414 Donation to Woodlands Foundation 7,000 7,000
3,050,407 1,354,781 338,414 4,743,602
NET SURPLUS/(DEFICIT) (551,548) 491,581 61,944 1,977
YEAR ENDED 30TH JUNE 2013
YEAR ENDED 30TH JUNE 2014
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Woodlands Golf Club A.B.N. 98 004 119 822
109 White Street, Mordialloc, Victoria 3195, Australia
Ph: +61 3 9580 3455 Fax: +61 3 9587 3136
Email: info@woodlandsgolf.com.au Web: www.woodlandsgolf.com.au
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