Bayview Golf Club Limited Annual · PDF file · 2015-11-30Bayview Golf Club Limited...

Bayview Golf Club Limited Annual Report

Year Ended 30 September 2015

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 68th Annual General Meeting of the Members of the BAYVIEW GOLF CLUB LIMITED will be held at the Clubhouse, 1825 Pittwater Road, Mona Vale on Tuesday 8th December 2015 at 7.30 p.m.

NOTICE TO MEMBERS OF VOTING DATES

If required, voting will commence in the Clubhouse on Monday 30th November 2015 and conclude on Sunday 6th December 2015. Ballot papers will be available from the Office from 9am each day closing at 5pm on Monday to Thursday and 6pm Friday to Sunday.

AGENDA

1. President’s opening remarks.

2. Apologies.

3. Minutes of the Annual General Meeting held on 9th December 2014.

4. Acceptance of 2014 Annual General Meeting Minutes as read and a true record. (*)

5. President’s Report.

6. Finance Report.

7. Auditor’s Report.

8. Director’s Report.

9. Election of Patron.

10. Election of Directors

President

Vice-President

Captain

Finance Director/Treasurer

Directors (5)

11. Ordinary Resolutions:

Directors Benefits – That the benefits approved by Members at the 2015 AGM as per the Notes to Members on page 2 be confirmed until the next Annual General Meeting of the club.

That pursuant to the Registered Clubs Act 1976 the Members approve and agree that Directors are entitled to enter their names onto the competition booking sheet prior to the sheet being available to Members and to utilise allocated Director car parking spaces provided.

12. Appointment of Auditors - Members to approve of HLB Mann Judd as auditors of Bayview Golf Club Limited.

13. General Business, if any.

(*) A copy of the 2014 AGM minutes are available from Reception. If you have any questions arising from the 2014 Minutes, the Directors request that you submit those questions to the General Manager in writing one week prior to the AGM.

OFFICE BEARERS 2014 / 2015

Patron The Hon Bronwyn Bishop MP

President David Sparks

Vice-President Ken Fitzpatrick

Captain David Smith

Finance Director Laurie Robinson

Directors Cheryl Gilmour

Dinah Latreille

John Dixon

Marten Touw

Adrian Van Gogh

General Manager David Stone

Auditors HLB Mann Judd

Life Members Mr K B Skarratt, Mr. R G Langbein, Mr K W Fitzpatrick,

Miss J Dalton, Mrs Olwyn Johnstone

NOTES TO MEMBERS

Ordinary Resolution

That pursuant to the Registered Clubs Act 1976 the Members approve and agree that Directors are entitled to:

1. Allocation of an amount no greater than $5,000 in total for expenditure by the Club in relation to duties performed by the Club’s Directors.

2. Allocation of an amount no greater than $5,000 in total for expenditure by the Club for Directors to attend seminars, lectures, trade displays and other similar events including visits to other clubs to enable the Club’s governing body to be kept abreast of current trends and developments which may have a bearing on the nature and way in which the Club conducts its business.

3. Utilise allocated Director car parking spaces provided.

4. Enter their names onto the competition booking sheet prior to the sheet being available to members.

ENTITLEMENT TO VOTE

The following Members may vote at the AGM of the Club;

1. The Club’s Articles allow Life Members and Full Playing Members (defined in the Club’s By-Laws as 7 day, 7 Day Senior and Colt Members) to vote on all resolutions, and

2. The Club’s Articles also allow Playing Members to vote on resolutions at the AGM provided they are over 18 and except on resolutions that change Article 8 (defines how a person can become a Member). For the purposes of this clause 5 Day, 3 Day are Playing Members and can therefore vote. The By-Laws state that Flexi Members and Swingers cannot vote.

Only Full Playing Members and Life Members may stand for election to the Board

PRESIDENT’S REPORT

This year has seen a consolidation of work undertaken by the Board throughout 2014. You will see from the financial reports the increase in the overall surplus and the improved level of cash resources all of which have come about as a direct result of the outstanding work of David Stone with the full support of department heads, Prue Watson, Adam Rust, Gus Moltzen and our professional, Neil Rolfe. Throughout the year there has been a strong push to increase revenue and control expenditure and this has come about, not only through the hard work of the General Manager and department of heads, but also the staff in administration, bar, kitchen and greens.

In January 2015 the Department of Planning rejected Waterbrook’s application for a Site Compatibility Certificate. This resulted in the Board having to consider a number of options in relation to the sale of the land or whether to lease a portion of the clubhouse in order to secure the Club’s future. Following an Information Night at which the leasing of the Club was discussed, the feedback from members was such that the Board decided the Waterbrook option was the best in all the circumstances.

On that basis the Board, together with Kevin Ryan of Waterbrook have worked extremely closely to address the issues raised by the Department of Planning concerning the height and build form, environmental matters and the flood zone. New experts were appointed by Waterbrook to address these matters and we understand this work has now been completed. At the time of writing, we understand that the Application for a further Site Compatibility Certificate will be lodged shortly. We remain optimistic that the Application will be approved.

Before reaching this position, substantial negotiations took place in relation to the variation of contractual agreements between the parties. The bulk of this work fell to Marten Touw whose expertise in such matters has been invaluable and was conducted in a most professional and diligent matter. The amount of time and work that Marten has put into this can never be underestimated and the Club’s sincere thanks go to him for the patience, the expertise and the work he has put into the entirety of this project to date.

As a result of a variation fee paid by Waterbrook, we have now commenced work in replacing the greens on holes 7, 14 and 18 and whilst this will cause some initial disruption to members, it is anticipated that by February, these three new greens will be in play. Yet again, we ask members for their patience and understanding as this work will form part of the course reconstruction and improve our most important asset – the golf course.

Notable amongst the achievements this year has been the increase in sponsors and this is directly attributable to the outstanding work of Christine Clarke. The role of the sponsors at Bayview is absolutely outstanding and they are quite often called upon for contributions over and above the sponsorship package and always there has been a positive response to that call. Please remember the sponsors that we have and where possible, utilise their services if you can.

Special mention needs to be made of the green staff who have worked under extremely difficult conditions this year. Throughout the year they have always presented our course in exceptional condition, notwithstanding weather conditions or when staff numbers were extremely low and as few as 4-5 people worked on a course. To them we say well done and thank you.

To all the volunteers who continue to work in various positions in the Club, we thank you. A special thanks to the Bayview Brigade for ongoing dedication to the course.

Thank you also to the ladies committee and in particular the outgoing President Ros McCririck and current Captain Di Hoschke. Your assistance at Board and committee level has been and will continue to be invaluable.

This year sees the retirement from the Board of Ken Fitzpatrick, Laurie Robinson, Cheryl Gilmore and Dinah Latreille all of whom have indicated they do not intend to seek re-election. Paul Blenkhorn also resigned from the Board in July 2015 because of work commitments

Ken Fitzpatrick has now held every position in the Club and his dedication, understanding and guidance throughout the years has been truly wonderful. Laurie Robinson has acted as a true “guardian of the purse” in his tenure as Finance Director, thank you just doesn’t say it all for the amount of work and time that has been spent by him in looking after the Club’s finances. Dinah Latreille was Chairperson of the House Committee and has maintained and improved on the high standards Club members are lucky to be able to expect at Bayview. Cheryl Gilmour is the glue that has kept Board and Staff positively focused on the restoration efforts at our Club. The work of each of these Board members is gratefully acknowledged.

Finally, all of this would not have been possible without the wonderful ongoing support of Bayview members. Thank you all for the ongoing support you provide to the club and for wonderful social atmosphere that has been created.

I hope that you all have a wonderful Christmas and a fantastic 2016!

President

FINANCE DIRECTOR’S REPORT

I am pleased to report that the Club’s trading result from operations for the year was a surplus of $119,756 compared to a surplus of $48,048 for 2014. During the year the Club also received a non refundable Variation fee under the revised terms of the Land Sale agreement, after writing off all the legal expenses incurred to date an additional surplus of $105,085 was taken to income resulting in the total trading result before Depreciation being $224,841 for the year.

The statutory result for 2015, after allowing for depreciation of $780,413, was a deficit of $555,572. This compares to the 2014 deficit of $750,997.

Overall revenue for 2015 was $3,966,587 up 7.7% or $282,873 on last year. While the variation fee received from Waterbrook of $150,000 contributed to this increase there were a number of other extremely pleasing performances that helped drive revenue giving an air of confidence for the future. Public green fees and cart hire revenue continued to improve being 9.6% or $39,381 up and Membership income was up 4.6% or $53,499 with membership numbers also up reversing the trend of the last few years.

However, the stand out performance has been Sponsorship income increasing from $26,041 in 2014 to $66,834 in 2015. A thank you must go to the support received from the Sponsors but a big thank you also must go to the Staff and Management, who grabbed this opportunity and delivered well above expectation.

A very strong performance in Bar underpinned an increase in the House trading surplus year on year. While revenue was slightly down, with focus on margin improvement, better aligning staffing levels with business activity and controlling costs has seen the Bar trading result improve by $34,086. The combining of the General Manager and Course Superintendents roles, along with tight control over marketing expenditure helped contribute to the improved result.

The solid performance as outlined above has allowed the Club to increase expenditure on the course helping to restore course expenditure to an appropriate level, and while it is not at a level it should be, at least some progress has been made in the right direction

Cash resources as at the end of the year was a very healthy $1,229,942 compared to $1,134,814 in 2014. These reserves should see the club operate without any further draw down on facilities over the coming twelve months. The cash flow from operations along with net proceeds received from Waterbrook of $256,613 was used to fund capital expenditure and lease payments of $161,485 for the year with the balance of $95,128 increasing the amount of cash held at year end. During the course of the year the loan funds provided to the Club under the member loan facility totalling $1.65 million were renegotiated and now mature in February 2018.

Finally, after 2 years in this role I will not be standing for re-election. I would like to thank Members and fellow Directors for your support, patience and from time to time your wise counsel. My job was made a lot easier with the tremendous support I received from management and staff. I have worked for many organisations and the commitment from the Bayview staff is unparalleled.

Laurie Robinson

CAPTAINS REPORT

GOLF COURSE

This year was dominated by a severe weather event in late April. An east coast low which formed over the Sydney area created flooding across the course. The low lying areas of the 3rd and 15th holes suffered extensive damage as the water could not get away quickly enough. Since then, the first half of the 15th has been raised and re-turfed and more drainage lines installed across the 3rd and later, to parts of the 15th to future proof the course from flooding.

The competition levy has helped to pay for these works and in addition enabled us to replace 3 aging gators, purchase a new heavy duty tractor and we are awaiting a new excavator.

With the expectant site compatibility and development applications expected to go ahead over the next year, we are in good shape to take on the new works with increased numbers on the greens staff.

Indeed with the non-refundable deposit from the developer, work has started on the newly designed 7th, 14th and 18th greens.

When the land sale eventuates the greens staff are ready and keen to implement the first stages of work that will underpin completion of the Course Master Plan.

2015 CLUB CHAMPIONSHIPS

This year was composed of two rounds of stroke qualifying, followed by match play. The semi-finals saw two young guns take on the more fancied, seasoned campaigners. In a surprise outcome, Ross Ingram defeated Paul Clarke and Jarrod Fisher edged Rus Loewenthal in close encounters. The final saw Jarrod take an early lead being 6 up after the first 18 holes. Ross continued to battle but could not make those vital putts. A series of halved holes saw Jarrod win 6 and 5. Well done to you both, surely a bright future for the many Bayview young guns of the future.

A Reserve Martin Mahoney defeated Paul Blenkhorn who had a dreadful start 10 and 8.B Grade David Jahnsen used his experience to down another young gun in Callum Evans.C Grade Demy Cutrie held off George Aberdour in a topsey turvey affair 4 and 3.

The results are:Club Champion Jarrod FisherA Reserve Martin MahoneyB Grade David JahnsenC Grade Demy Cutrie

PENNANTS

Bayview fielded teams in the Major Pennant, Masters Pennant, Junior Pennant, Encourage Shield, Northern Beaches Interclub Challenge, Warren Shield and Gibson Trophy throughout 2015.

All players, caddies, managers, and supporters of all the teams representing the Club should be proud of their achievements. I encourage all members to strive towards representing the Club irrespective of what grade as the camaraderie generated is outstanding and the exposure to competition golf improves one’s game.

MAJOR PENNANT 2015

The 2015 season commenced with a narrow away loss to Pennant Hills (4/3) and in the return match at Bayview Pennant Hills prevailed by the same score line (4/3).

Our next assignment was against Cronulla at Bayview and unfortunately in another close match we were on the wrong end of our third 4/3 loss. In the rematch at Cronulla we lost 6/1, our only real disastrous loss of the season.

After 4 rounds both Bayview and New Brighton were yet to win a match and as a result the final 2 rounds would determine which club would be forced to a relegation final to defend their position in Division 2. The round 5 match at home resulted in a strong victory to Bayview 5.5/1, however we still had to travel away to New Brighton in the final round and ensure if we were not successful in winning the match we picked up at least 2 games to avoid the relegation final. In one of our best performances for the year Bayview came away with comprehensive 5/2 victory and a great way to finish the year.

Outside of the away loss to Cronulla our performances were quite solid and with a fraction of luck we could have been contesting for a top 2 position. Had we been on the other side of the ledger in those close 4/3 loses the season may have been vastly different and it highlights with a little more work and preparation we can be highly competitive in Division 2.

Throughout the course of the season we introduced a number of new players that represented Bayview in the major pennants for the first time. These players included Ross Ingram, Jason McMenamin and Tony Atley. The balance of the team was made up of Rus Lowenthal, Dale Tapper, Michael Brown, Adam Whipp, James Thomas, Paul Clarke and Mitchell Blenkhorn. Special mention to Rus Lowenthal going through the season undefeated which is a fantastic effort.

Special thanks to our team manager, David Sparks for the time and effort he contributes prior to the season com-mencing in terms of arranging players, sponsorship and uniforms and the ongoing organisation throughout the matches. In the final round Phil Whipp stood in for David and performed sterlingly with a great away victory.

Also special thanks to the caddies that give up their time to support their players and the team in general. This year the caddies consisted of Paul Blenkhorn, Jared Fisher, David Whitmore, Gus Moltzen, Matt Sopp and Phil Whipp.

MASTERS PENNANT 2015

This event is played off scratch with a team of 7 plus a reserve whose match counts as a half a point and is for players over 50 years of age. Bayview was represented by:

Dale TapperRus LoewenthalOliver PoateNeil FletcherGreg WhyteTony AtleyGreg HartshorneBrett Storer

Reserves were:Murray LaracyRex AdamsMark Edmondson and the manager was Rod Brown.

Having won its division last year there were high hopes of achieving this again and entering the state playoffs. To achieve this, the team needed to beat the highly fancied teams from Long Reef and Terry Hills in the last 2 games. After having a solid win over Long Reef in the second last game 5 ½ to 2 the team had to play Terry Hills at Terry Hills and beat them in order to achieve this. This was not an easy task and despite having a slight edge over the front 9 the match up tightened on the back nine. With good wins to Dale, Neil and Ollie we still needed one more game and we had Greg Hartshorne and Rus in close matches still on the course. Rus made a remarkable sand save to square his match on the 17th. Then the relief with Greg making a remarkable birdie with his second ball to clinch his match 1 up. Rus put the icing on the cake with another incredible bunker shot to a foot for a par to also win 1 up giving us 5 matches plus Murrays squared match (¼ point) at reserve and the Division win. Whilst this is a team game and everyone contributed some mention should be made of 2 players, Neil Fletcher and Rus Loewenthal, remaining undefeated in the 6 matches. Special mention of our Manager Rod Brown should be made who gave up his time each week, arranged practice games and provided excellent organization and motivation to our team. Alas the team went down to Asquith in the first playoff round 5 to 2; all matches being closely contested.

NORTHERN PENINSULA INTERCLUB CHALLENGE

Our Bayview team were winners of this ‘over 60’s’ event for the first time in the event’s 13th year, two games ahead of Manly after the rounds and being declared winners when the final at Long Reef was washed out.

Congratulations to the squad of Gerry Bouman, John Curry, Dave Ineson, Dieter Kammerl, Chick Mongan, Ian Penfold, Trev Remington, Murray Smith, Roger Smith, Kevin Smith & Steve Whitfield. Everyone played a part & represented our club with distinction.

JUNIOR PENNANT

Our Junior Golf squads continue to grow with our Bayview Program being run by Professionals Neil Rolfe and Jenny Schulenburg. Our Encourage Shield and Junior Pennant had very competitive seasons amongst strong opposition. Thank you to Christine Clarke and Steve Klug for assistance in managing the Junior Pennants and a thank you to Marten Touw and Jason McMenamin, the managers of the Encourage Shield. The Junior Open in April had its highest participation and again a huge thanks to all the volunteers that were available on the day.

WARREN AND GIBSON TROPHY

Our opponents this year were Cammeray, Cumberland and Barnwell Park. Players were required to have a GA handicap over 10.0 for the Warren Shield and 16.0 for the Gibson Trophy.

WARREN

The Team had a frustrating year with many of the matches going down on the 17th or 18th holes. With a single loss at home, the win loss record of 2 against 4 meant we unfortunately missed the playoffs. A close last game loss away at Cammeray (who went on to make the semi-finals) was the turning point. A big thank you to all the players and especially Marten Touw for managing the eclectic group.

Team members:David Sparks John CurryGary WilcoxSean ColemanDennis MaakaCraig DorringtonJohn CooperDavid WhiteMarten Touw Capt/Manager

GIBSON

The team started their campaign on fire with away wins at Cumberland and Barnwell Park, then a home win against Barnwell Park. A loss to Cumberland followed by win against Cammeray at home and finally a narrow away defeat at Cammeray gave us a 4/2 record.

Bayview won Division 5 and obtained a bye due to a superior win/loss match record.

In the quarter finals of the entire Sydney metropolitan competition, we travelled to Liverpool to do battle with Muir-field. With all games going to the 17th hole, we went down 2 matches to 1 in a very tight encounter.

A great season by the boys and all should be congratulated for going so far.

Team members:Rob McleodDavid Smith Capt/ManagerTim WerrettJohn FallickGarry PearceSteve HarrisonMalcolm AlderGraeme KeatsGeorge AberdourRodney FisherRick TuckerAdrian Van Gogh

ACKNOWLEDGEMENTS

I would like to thank the other members of the Match Committee - David Stone, Di Hoschke, David Sparks and Marten Touw for their time and effort throughout the year.

David Stone who has stepped into the dual role of General Manager and Course Superintendent has been instru-mental in bringing the course up to speed at the same time as all his extra duties.

Gus Moltzen who has stepped into David’s big shoes as Acting Super and the rest of team who have performed their normal duties mowing the course, preparing the greens and setting up the relevant tee positions, tirelessly even when short staffed over winter.

They have also worked hard coring and fertilizing the fairways which have improved immeasurably during the year.

To the Pro Shop in running the competitions and events during the year. This year has seen Neil Rolfe take over the business with Rod Brown retiring after many years. Rod continues to grace us with his presence in his teaching role. Jenny Schulenburg has been busy completing her PGA traineeship - congratulations Jen. Steve Howard for running the weekends smoothly and Oli Poate and Jack Mcleod who have started in the shop.

Tiffany Mika for her help with the Swingers.

To the Administration team under Prue, with Madonna publishing the E-Bulletin, organising all the trophies, the Presentation Night and other events. Tanya and Amy helping with membership and many other duties.

Bob Cadden and the Bayview Brigade who each month help David Stone with a variety of projects.

To the Lady Captain, Di Hoschke and the Ladies Committee for a myriad of help during the year.

Marten continues to work with Waterbrook to secure the future of our club. We are on the verge of delivering an exciting and sensible revised layout at Bayview.

Finally I would like to thank all the Club’s members for their support during the year. The atmosphere we create here at Bayview certainly sets us apart from other clubs.

I wish all a Happy New Year and an enjoyable 2016.

David Smith

2015 MAJOR TROPHY WINNERS

The following listof Major Competitions were conducted through the year and the winners are congratulated.

Club Championships

2015 Club Champion Jarrod Fisher

A Reserve Martin Mahoney

B Grade David Jahnsen

C Grade Demy Cutrie

Junior Champion Jarrod Fisher

Foursomes Championship

Club Champions Michael Brown & Rus Loewenthal

B Grade Joshua Nila & Callum Evans

C Grade Nicholas Klug & Jackson Schuetrumpf

Mixed Foursomes

Club Champions Kym Payne & Chris Clarke

B Grade Dennis Maaka & Gillian Wood

C Grade Garry Pearce & Bev Jenkinson

Singles Knockout David Beeston

Mixed 2 Ball Knockout Roger Smith & Dianne Hoschke

Seniors Championship Rus Loewenthal

Veterans Championship Greg Whyte

Mid Week Matchplay Championships

A Grade Jack McLeod

B Grade Tony Smith

C Grade Rob McLeod

Naggers Cup Jennifer & Garry O’Brien

Patrons Trophy Gary Pearce

Gold Medal Scratch

A Grade Paul Clarke

B Grade Stephen Whitfield

C Grade Nicholas Klug

Gold Medal Nett

A Grade Patrick Wood

B Grade Denis Matulin

C Grade Alex Rowe

Bayview Bowl Ian & Mandy Penfold

Founders Trophy David Beeston & Oli Poate

Spring Cup 2014 Jack McLeod

LADY PRESIDENT’S REPORT

It is with both pleasure and sadness that I present the annual report for 2015, my third and final.

2015 has been another fantastic year for the lady membership. Our numbers have steadily grown and the participation in golf has increased over the year.

The year began in February with our opening day; followed the next week by the Barrenjoey Week of golf when we hosted 2 days. Thank you to our Barrenjoey committee of Annabel Smith, Dinah Latrielle and Susanne Davies for all your work assisting the organisation of such a successful week of golf. This is always a busy time of the year and returns us to golf after the Christmas break.

Our first invitation Day in April was cancelled due to the cyclonic weather conditions experienced in Sydney early in the week. I thank Jean Yves for his understanding and cooperation in cancelling the food orders. Adam was on his honeymoon enjoying the warm weather of the Maldives oblivious to the dramas taking place here. We were not able to reschedule the day due to a full calendar of events for the year However we held an invitation day in July which was well attended and everyone enjoyed the day.

We hosted seven Pennant teams this year and I thank Di and the team convenors for starting the teams and organising spotters on the course. Congratulations to all teams but especially the winners Silver shield, the new Silver Cup, Bronze II and Bronze IV Adam did a wonderful job with the lunches and always finished the meal with a small treat of Steve’s pastries which the visiting ladies really enjoyed.

A very successful Pennant dinner was held at the end of the season where the team members had a chance to mix and share their experiences.

None of these events would be possible without the continued support and cooperation of our Head Chef Adam Rust and his team in the kitchen. Always willing to discuss menus and adapt ideas I have, they are a pleasure to work with and nothing is too much trouble. Thanks to Adam, Jean-Yves, Zane, Steve and Liz.

The theme dinners have continued throughout the year and have become a popular evening at Bayview. Adam also took over the organisation of the house area and along with Josh, Angus, Mitchell and the rest of the bar staff they have given great service throughout the year. Their manner is always courteous and friendly. Also thanks to Martin, Karen, Nicola and all the others who serve us on a regular basis.

Christine Clarke moved into the marketing area during the year and has done a magnificent job securing hole sponsorship for all 18 holes, cart sponsorship and procuring the Terrey Hills Par 3 membership deal for 7 day members and reduced costs to use the facilities for other members.

A new functions coordinator Karen Frost was appointed in July and although Karen had not worked in a golf club situation before she has quickly taken to the role and overseen our larger events with ease. Thank you Karen.

Tiffany Mika resigned from the club in October. Tiffany had been with the club for 9 years the last 7 years she had been in charge of the Swingers programme. She did a great job preparing the ladies for the transition to membership. The swingers programme will continue under the direction of Jenny Schulenburg.

Jenny has successfully completed her three year traineeship for membership of the PGA. She will be officially recognised as a member of the PGA at a graduation ceremony to be held in February next year. Congratulations Jenny. We look forward to your continued support of all the members in the club.

In May we celebrated the 80th birthday of Jean Murton who has been a member of Bayview for 47 years. It was a lovely day and it is wonderful to see our octogenarians still playing golf and enjoying the camaraderie of our members.

Throughout the year on Invitation Days, Easter and Mothers Day we held raffles to raise money for Mona Vale hospital. A cheque for $1,500 was presented to the Ladies Auxiliary of Mona Vale Hospital on Presidents v Captains day.

Our annual gala charity day was held in September and once again it was a successful day. This would not be the case without the hard work behind the scene of the ladies committee Thank you to all of the committee for your

wonderful efforts and your hard work on the day – starting before 7am and not finishing till well after all the golfers had left the clubhouse.

We raised $12,000 which was split 50/50 with The Breast Cancer Institute and The Prostate Foundation with an additional $500 donated to the Prostate Foundation by member John Vardill.

Sincere thanks to all the local businesses, lady members and individuals who kindly donated wonderful prizes for the raffles. To the male members of the club thank you once again for supporting this day so generously. It is greatly appreciated.

I received a letter from The Breast Cancer Institute this year and would like to quote from it “Since 2004, Bayview Golf Club and its members have raised a staggering $78,583.18 to support the breast cancer clinical trials research programs of the Australian and New Zealand Breast Cancer Trials”. That is a fantastic effort as over this time we did not always raise money for The Breast Cancer Institute. Thank you to all the members.

It was a year touched with sadness as two of our long time members passed away. Elaine Coleman on 13th February and Rosemary “Rosebud” Jackson on 9th September. Both will be fondly remembered for their contributions to the club. Elaine for her wonderful singing in the reviews, her friendship and her fun approach to all she did; and Rosemary as a diligent office worker and Lady Captain and participant in all forms of golf.

To David Sparks, Club President, Board of Directors and David Stone General Manager your support is much appreciated. You have all worked tirelessly throughout the year to achieve great results and the ongoing growth of the club. To Marten and those working to finalise the land sale we thank you for all the time you have given to achieving an end result.

To the office staff, Prue, Tanya, Madonna and Amy, thank you for being so helpful to us all, but particularly with my many queries and requests. We constantly interrupt your work and we as committee thank you all for being so obliging. You all do an incredible job.

To David Stone - wearing two hats – Course Superintendent and General Manager. What an outstanding job you have done this year. To your team on the course they have worked hard with limited numbers to continue to improve the course. It must be so disheartening when we have the excessive rains and some fairways flood. Hopefully with the work about to be undertaken and the drainage already done this year these events will begin to have less affect on the course. It has come through the early rain this year and is looking fantastic as we head into spring and summer. Congratulations to all the ground staff and thank you from all of us.

To Neil, Jenny and Steve and their assistants Oliver and Jack in the pro shop. You are always there to assist with any requests and enquiries the ladies have and we all really appreciate your friendly attitude and support.

Finally I would like to thank the current Committee ladies as well as all the ladies who have served on committee in my time as Lady President. You have all been great workers and always supported and assisted me in the role of Lady President. Thanks also to our Vets delegate Sandra Kercher for the time she spends organising all the Veterans events both at Bayview and at away clubs.

My congratulations and thanks to Lady Captain Di who has given an enormous amount of time to her role. Since the introduction of the GA system Di has had to rethink /reprogram/ reorganise much of our golfing fixtures. This has been a huge task but she has met the challenge and ironed out the hiccups along the way without most of us being aware of any problems. It has been an absolute pleasure for me sharing our responsibilities on committee and I wish you well in the year ahead.

This is my third and final year as Lady President of Bayview Golf Club. Previously I was Vice President for two years. It has been a phenomenal experience and a time I have enjoyed immensely. I thank you as members for all your support and friendship throughout this time and I will miss it greatly.

Ros McCririck

LADY CAPTAIN’S REPORT

I come to the end of my 3rd year as Lady Captain and I have been asked by many, “Who is replacing you?” In many clubs, the position has a 3 year term. When I say that I am happy to continue and enjoy the role I receive varying responses. Of course the position is not without its hurdles and challenges. But I get a lot of satisfaction from believing, rightly or wrongly, that I am delivering all of you the opportunity to enjoy your time playing golf and to want to continue playing golf at Bayview.

In saying that, I do not do it alone. Firstly, there have been 10 other committee members who are involved with all matters related to competitions and events that we schedule. In particular I have a very supportive Match Committee – Heather Jones, Olwyn Johnstone, Charme Freeman and Marlene McKewen. Then there is the Pro Shop staff who ensure that our varied and involved golf programme is accommodated each week and this has at times been very difficult under the latest version of Micropower. Finally there is our course that is presented at its best at all times of the year by our Course Superintendent, David Stone, and his hard working ground staff.

At the time of this AGM (12th November) the number of lady members who are in the categories of 7 day, 5 day, 3 day, Senior, Life Member, Flexi and Junior is 224. The Introductory Member Programme or Swingers is continuing under Jenny Schulenburg following the resignation, in October, of Tiffany Mika-Cox. Tiffany provided instruction in the programme for the past 7 years and her dedication and enthusiastic approach to teaching the basics certainly contributed toward many ladies becoming hooked on golf.

I thank the Committee Members Trish Gillett and Ann-Maree McDivitt who have given up many Mondays to mark handicap cards for players who have finished the programme and encouraged them to transition to flexi or full membership categories. The other volunteers Ann Giles, Marlene McKewen, Sandra Cook, Marion Leonard, Suzanne Davies, Robyn Burns, Lorraine Bollen, Maureen Hicks and Colleen Rumbal are providing encouragement and education with rules and etiquette.

This year Invitation Day in April was washed out and not played. There was only one mid-week and two weekend events needing to be rescheduled because of wet conditions. There are two events that have not been completed when this report was written – the weekend Gold Medal playoff and the Weekend Premiership. All trophy winners for 2015 will be recognised individually on presentation night on 24 November and a list of major trophy winners will be listed in the Bayview Annual Report.

I congratulate the winners of the Winnererremy Cup - Colleen Rumbal, the Bronze Bowl - Elizabeth Steel and the Bayview Salver - Chris Clarke. These trophies are not re-presented at our Annual Presentation Night as players from other clubs can contest the events.

Our entrants into GolfNSW events in 2015 were Mandy Penfold and Lynne Hatch in the Pewter Plate; Marlene McKewen, Elizabeth Steel, Suzanne Stuart and Christine Cox in the Bronze Medallion; and Sumiko Storer, Carol McLeod, Charme Freeman and Dianne Hoschke in the Coronation Medal. Chris Clarke and Lyn Watson won their way into the Women’s NSW Fourball Classic Metropolitan Playoff. At the GolfNSW Women’s Weekend Tournament Janet Raine was the overall Division II winner.

The GolfNSW Medal playoff is scheduled in December at Penrith Golf Course and we will be represented by Chris Jacobs and Jacqui Flanigan in the Gold Medal division, Gillian Wood and Linda Taylor in the Silver and Amelia Toohey and Carolyn Morgan in the Bronze.

In the Veteran Women Golfers’ Association Metropolitan Tournaments Sue Lewis won the Metropolitan Veterans Championship Division IV and Sue Poate, Marlene McKewen, Kim Turner and Kay Gadaleta were the Bayview Veterans Challenge Brooch winners. Additionally, Kim Turner won the overall State Bronze Veterans Challenge Brooch with her score of net 63. I thank Sandra Kercher, our Veterans Delegate, who ensures that Bayview is well represented in all events.

This year has been no exception to the success of our players when competing away from Bayview. We have had many winners in Veteran mixed tournaments, in one day events at other clubs and it seems the two and three day tournaments where a group of players travel and stay result in Bayview featuring not only as daily winners but as the overall winners. I congratulate all of you. The groups who go on tour certainly enjoy their time off the course as well.

I congratulate the select few who have scored a Hole in One at Bayview this year – Wendy Climo, Helen Owens, Linda Taylor and Tess Clarke.

In 2015 Bayview competed in Grade No. 2, Silver Shield, Bronze Plaque, Bronze II, III and IV Pennant, Weekend Pennant and a new pennant – the Silver II Cup. We have again proven that we are a strong club when it comes to matchplay with the Silver Shield, Silver II Cup, Bronze II and Bronze IV teams winning their shield or trophy. I acknowledge our players and reserves:

Kannika Aberdour Charme Freeman Marion Leonard Denise Sainty

Alison Baker Barbara Gavin Sue Lewis Pat Shepheard

Janice Bostock Ann Giles Mary Maher May Shepherd

Terrie Bouman Trish Gillett Susie McCarthy Annabel Smith

Robyn Burns Cheryl Gilmour Ros McCririck Sharon Stephenson

Jenny Chung Avril Gluckman Ann-Maree McDivitt Sumiko Storer

Chris Clarke Wendy Harrington Marlene McKewen Suzanne Stuart

Joan Croydon Angela Haynes Carolyn Morgan Lyn Talmont

Deb Danielson Gail Holmes Raylee Moylan Amelia Toohey

Raelene Dockrill Dianne Hoschke Jenny Muller Kim Turner

Suzanne Davies Chris Jacobs Irene Newport Lyn Watson

Carnie Donnelly Heather Jones Jennifer O’Brien Tess Wiseman

Annie Dorrington Elizabeth Kelly Sue Poate Gillian Wood

Jacqui Flanigan Sandra Kercher Dee Price

Carol Fletcher Gwenda Lansbury Colleen Rumbal

The convenors were Dianne Hoschke, Charme Freeman, Heather Jones, Elizabeth Kelly, Marlene McKewen, Kaye Platt and Angela Haynes. I thank them and also Jenny Schulenburg and Neil Rolfe who provided clinics for the players.

This year we introduced the option for players who were either over 70 years of age or whose GA handicap was greater than 31.0 to play every Tuesday on the Gold course. This has been a popular decision for players in these categories.

I have continued to present one rule a week at presentation as rules education. This often raises other questions which can only lead to a better understanding of the R&A Rules as they apply to situations here at Bayview.

At the time of this meeting the construction of a new 7th green and surrounds has begun. This will be the first of three new greens and we will see what the course designers Graham Papworth and Mark Parker have envisaged for our course. It will also showcase a new bunker built using capillary concrete which will drain correctly. Time will tell if these are the correct choices made for the improvement of our course.

I need to farewell two of our committee. Heather Jones, the Vice-captain, who has helped to streamline so many of the tasks we do. Together we have worked through many rather difficult situations and I thank her for her support and the time given to the role. Our President Ros McCririck, has been a strong, calm leader. Her attention to detail has meant that all events have run smoothly. With foresight and experience in sporting matters it has meant I could bounce ideas around and get positive feedback. It has been a pleasure having her at the helm as it has ensured that the committee has remained a unified and active group.

Finally I would like to thank all the members and employees of the club for their encouragement and assistance and I look forward to continuing in the role in 2016.

Di Hoschke

LADIES MAJOR TROPHY WINNERS FOR 2015

FOUNDERS TROPHY Colleen Rumbal

Mid-week Lynne Hatch

Weekend Joan Croydon

ESMA NICHOLLS MEMORIAL TROPHY Patricia Gillett

SINGLES HANDICAP K/O Dianne Hoschke

4BBB HANDICAP K/O

Mid-week Jill Scully & Alison Baker

Weekend Raelene Dockrill & Joan Croydon

BAYVIEW CUP Kay Gadaleta

CLUB CHAMPIONSHIP Club Raelene Dockrill

B Grade Pat Shepheard

C Grade Susanne Davies

JUNIOR CHAMPION Tess Clarke

WEEKEND PREMIERSHIP A Grade Wendy Harrington

B Grade Ann Giles

C Grade Kate Courtney

VETERANS CHAMPIONSHIP A Grade Raelene Dockrill

B Grade May Shepherd

C Grade Lynne Hatch

SUPER VETERANS Nett Carnie Donnelly

Scratch Wendy Climo

VETERANS CUP Dianne Hoschke

FOURSOMES CHAMPIONSHIP Club Chris Clarke & Chris Jacobs

B Grade May Shepherd & Elaine Walker

C Grade Joan Croydon & Robyn Cole

WEEKEND FOURSOMES PREMIERSHIP A Grade Carol McLeod & Raelene Dockrill

B Grade Annabel Smith & Angela Haynes

C Grade Marion Leonard & Joan Croydon

VETERANS FOURSOMES CHAMPIONSHIP A Grade Charme Freeman & Dianne Hoschke

B Grade Carol Fletcher & Narelle Cope

C Grade Jenni Berry & Dee Gadsby

BAYVIEW SALVER Chris Clarke

BRONZE BOWL Elizabeth Steel

WINNERERREMY SWAMP CUP Colleen Rumbal

MEDAL OF MEDALS Mid-week Denise Sainty

Weekend (Not completed at time of printing)

HOLE-IN-ONE Wendy Climo, Helen Owens,

Linda Taylor & Tess Clarke

Membership by Category as at 30/9/15

2015 2014

Full Playing Members 362 351

Other Playing Members 500 483

Life Members 5 5

Non Playing Members 1106 1040

Honorary Members 9 26

Total 1982 1905

The data in this table represents the normalised member base of the club after allowing for the impact of member renewal data in the period immediately after September each year.

BAYVIEW GOLF CLUB LIMITED A Company Limited by Guarantee ACN 000 076 853 ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2015

BAYVIEW GOLF CLUB LIMITED A Company Limited by Guarantee ACN 000 076 853 ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2015

BAYVIEW GOLF CLUB LIMITED (A Company Limited by Guarantee)

ACN 000 076 853

DIRECTORS' REPORT DIRECTORS –Name Occupation Years as a

Director

PRINCIPAL ACTIVITIES RESULT STATE OF AFFAIRS MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR


ACN 000 076 853

DIRECTORS’ REPORT

LIKELY DEVELOPMENTS IMMEDIATE AND LONG TERM OBJECTIVES OF THE CLUB To operate the Club for the benefit of Members and guests in line with the club’s core values

STRATEGIES FOR ACHIEVING THE OBJECTIVES

member income across all aspects of the Club’s operations without

KEY PERFORMANCE INDICATORS

Meeting budgets and controlling expenditure to ensure efficient use of Member’s funds High service levels across all aspects of the Club’s operations as determined by survey of Member


ACN 000 076 853

DIRECTORS' REPORT DIRECTORS –Name Occupation Years as a

Director

PRINCIPAL ACTIVITIES RESULT STATE OF AFFAIRS MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR


ACN 000 076 853

DIRECTORS’ REPORT

LIKELY DEVELOPMENTS IMMEDIATE AND LONG TERM OBJECTIVES OF THE CLUB To operate the Club for the benefit of Members and guests in line with the club’s core values

STRATEGIES FOR ACHIEVING THE OBJECTIVES

member income across all aspects of the Club’s operations without

KEY PERFORMANCE INDICATORS

Meeting budgets and controlling expenditure to ensure efficient use of Member’s funds High service levels across all aspects of the Club’s operations as determined by survey of Member


ACN 000 076 853

DIRECTORS’ REPORT

MEETINGS OF DIRECTORS

Meetings Held While a Director

Meetings Attended

INSURANCE OF OFFICERS STATUTORY STATUS AUDITOR’S INDEPENDENCE DECLARATION A copy of the Auditor’s Independence Declaration as required under Section 307C of the Corporations David Sparks Laurie Robinson PRESIDENT FINANCE DIRECTOR Sydney, NSW 19 November 2015


ACN 000 076 853

DIRECTORS’ REPORT

MEETINGS OF DIRECTORS

Meetings Held While a Director

Meetings Attended

INSURANCE OF OFFICERS STATUTORY STATUS AUDITOR’S INDEPENDENCE DECLARATION A copy of the Auditor’s Independence Declaration as required under Section 307C of the Corporations David Sparks Laurie Robinson PRESIDENT FINANCE DIRECTOR Sydney, NSW 19 November 2015

4

AUDITOR’S INDEPENDENCE DECLARATION To the Directors of Bayview Golf Club Limited: As lead auditor for the audit of Bayview Golf Club Limited for the year ended 30 September 2015, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (a) the auditor independence requirements of the Corporations Act 2001 in relation to the audit;

and (b) any applicable code of professional conduct in relation to the audit.

Sydney, NSW S P James 16 November 2015 Partner

BAYVIEW GOLF CLUB LIMITED

ACN 000 076 853

STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2015

Note 2015 $

2014 $

CURRENT ASSETS Total Current Assets 1,364,861 1,246,104 NONCURRENT ASSETS Total NonCurrent Assets 7,238,302 7,850,195 TOTAL ASSETS 8,603,163 9,096,299 CURRENT LIABILITIES Total Current Liabilities 1,269,741 1,261,491 NONCURRENT LIABILITIES Total NonCurrent Liabilities 1,800,249 1,746,063 TOTAL LIABILITIES 3,069,990 3,007,554 NET ASSETS 5,533,173 6,088,745 ACCUMULATED FUNDS 5,533,173 6,088,745


ACN 000 076 853

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 SEPTEMBER 2015

Note 2015 $

2014 $

Revenue from continuing operations 3,966,587 3,683,714 Expenses from continuing operations Total expenses from continuing operations 4,522,159 4,434,711 Deficit before income tax expense (555,572) (750,997) Deficit after income tax expense (555,572) (750,997) (555,572) (750,997)


ACN 000 076 853

STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2015

Note 2015 $

2014 $

CURRENT ASSETS Total Current Assets 1,364,861 1,246,104 NONCURRENT ASSETS Total NonCurrent Assets 7,238,302 7,850,195 TOTAL ASSETS 8,603,163 9,096,299 CURRENT LIABILITIES Total Current Liabilities 1,269,741 1,261,491 NONCURRENT LIABILITIES Total NonCurrent Liabilities 1,800,249 1,746,063 TOTAL LIABILITIES 3,069,990 3,007,554 NET ASSETS 5,533,173 6,088,745 ACCUMULATED FUNDS 5,533,173 6,088,745


ACN 000 076 853

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 SEPTEMBER 2015

Note 2015 $

2014 $

Revenue from continuing operations 3,966,587 3,683,714 Expenses from continuing operations Total expenses from continuing operations 4,522,159 4,434,711 Deficit before income tax expense (555,572) (750,997) Deficit after income tax expense (555,572) (750,997) (555,572) (750,997)


ACN 000 076 853

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 SEPTEMBER 2015

2015 $

2014 $

Total comprehensive loss for the year Total accumulated funds at the end of the year 5,533,173 6,088,745


ACN 000 076 853

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2015

Note 2015 $

2014 $

Cash flows from operating activities Net cash provided by operating activities 16 (b) 106,613 55,897 Cash flows from investing activities Net cash used in investing activities 99,957 (105,192) Cash flows from financing activities – – – – Net cash (used in) provided by financing activities (111,442) 674,972 Net increase in cash and cash equivalents 95,128 625,677 Cash and cash equivalents at end of the financial year 16 (a) 1,229,942 1,134,814


ACN 000 076 853

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 SEPTEMBER 2015

2015 $

2014 $

Total comprehensive loss for the year Total accumulated funds at the end of the year 5,533,173 6,088,745


ACN 000 076 853

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2015

Note 2015 $

2014 $

Cash flows from operating activities Net cash provided by operating activities 16 (b) 106,613 55,897 Cash flows from investing activities Net cash used in investing activities 99,957 (105,192) Cash flows from financing activities – – – – Net cash (used in) provided by financing activities (111,442) 674,972 Net increase in cash and cash equivalents 95,128 625,677 Cash and cash equivalents at end of the financial year 16 (a) 1,229,942 1,134,814


ACN 000 076 853

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2015

1. STATEMENT OF ACCOUNTING POLICIES

Corporations Act 2001Compliance with IFRS Historical cost convention Critical accounting estimates also requires management to exercise its judgment in the process of applying the company’s Going concern basis of accounting ty (the “Facility”) in February 2014. All of the Club’s borrowings have been consolidated into the Facility which is currently drawn to $1.65m. in the Club’s instance, on Waterbrook receiving a Site Compatibility Certificate for Senior’s Living from the NSW After consultation with the Club’s members, the Club has continued its contractual relationship with The proceeds that will be made available to the Club on Waterbrook’s receipt of the Site


ACN 000 076 853


1. STATEMENT OF ACCOUNTING POLICIES (continued)

(a) Revenue recognition

Members’ subscriptions payable on an annual basis which coincides with the Company’s financial year.

Other income

(b) Income tax

(c) Property, plant and equipment and depreciation

Land & buildings Other fixed assets

(d) Leased and commercial hire purchase noncurrent assets


ACN 000 076 853


1. STATEMENT OF ACCOUNTING POLICIES

Corporations Act 2001Compliance with IFRS Historical cost convention Critical accounting estimates also requires management to exercise its judgment in the process of applying the company’s Going concern basis of accounting ty (the “Facility”) in February 2014. All of the Club’s borrowings have been consolidated into the Facility which is currently drawn to $1.65m. in the Club’s instance, on Waterbrook receiving a Site Compatibility Certificate for Senior’s Living from the NSW After consultation with the Club’s members, the Club has continued its contractual relationship with The proceeds that will be made available to the Club on Waterbrook’s receipt of the Site


ACN 000 076 853



(a) Revenue recognition

Members’ subscriptions payable on an annual basis which coincides with the Company’s financial year.

Other income

(b) Income tax

(c) Property, plant and equipment and depreciation

Land & buildings Other fixed assets

(d) Leased and commercial hire purchase noncurrent assets


ACN 000 076 853



(e) Borrowing costs

(f) Impairment

which the asset’s carrying amount ehigher of an asset’s fair value less costs to sell and value in use.

(g) Employee entitlements

(i) Annual leave ’

(ii) Superannuation

(iii) Long service leave

’

(h) Trade and other creditors

(i) Hospitality vouchers in advance


ACN 000 076 853


1. STATEMENT OF ACCOUNTING POLICIES (continued) (j) Cash and cash equivalents

(k) Standards issued but not yet operative

2015

$ 2014 $

2. REVENUE

Revenue from continuing operations

Operating revenue Other revenue –

Total revenue from continuing operations 3,966,587 3,683,714

3. EXPENSES

126,585 100,097


ACN 000 076 853



(e) Borrowing costs

(f) Impairment

which the asset’s carrying amount ehigher of an asset’s fair value less costs to sell and value in use.

(g) Employee entitlements

(i) Annual leave ’

(ii) Superannuation

(iii) Long service leave

’

(h) Trade and other creditors

(i) Hospitality vouchers in advance


ACN 000 076 853


1. STATEMENT OF ACCOUNTING POLICIES (continued) (j) Cash and cash equivalents

(k) Standards issued but not yet operative

2015

$ 2014 $

2. REVENUE

Revenue from continuing operations

Operating revenue Other revenue –

Total revenue from continuing operations 3,966,587 3,683,714

3. EXPENSES

126,585 100,097


ACN 000 076 853


2015

$ 2014 $

3. EXPENSES (continued)

’

4. CASH AND CASH EQUIVALENTS 1,229,942 1,134,814

5. TRADE AND OTHER RECEIVABLES 20,316 27,190

6. INVENTORIES 51,025 53,703

7. OTHER ASSETS Current 63,578 30,397

8. INTANGIBLE ASSETS


ACN 000 076 853


2015

$ 2014 $

9. PROPERTY, PLANT AND EQUIPMENT – – – – – 7,238,302 7,850,195 Reconciliation of movements


ACN 000 076 853


2015

$ 2014 $

3. EXPENSES (continued)

’

4. CASH AND CASH EQUIVALENTS 1,229,942 1,134,814

5. TRADE AND OTHER RECEIVABLES 20,316 27,190

6. INVENTORIES 51,025 53,703

7. OTHER ASSETS Current 63,578 30,397

8. INTANGIBLE ASSETS


ACN 000 076 853


2015

$ 2014 $

9. PROPERTY, PLANT AND EQUIPMENT – – – – – 7,238,302 7,850,195 Reconciliation of movements


ACN 000 076 853


2015 $

2014 $

9. PROPERTY, PLANT AND EQUIPMENT(continued)

Reconciliation of movements (continued)

Total property, plant and equipment 7,238,302 7,850,195

10. TRADE AND OTHER PAYABLES

Current – 1,065,958 1,080,801

11. INTEREST BEARING LIABILITIES

Current Secured 87,842 87,190


ACN 000 076 853


2015 $

2014 $

11. INTEREST BEARING LIABILITIES (continued)

Noncurrent Secured 1,800,249 1,746,063

Member’s loans 2015

$ 2014 $

12. EMPLOYEE ENTITLEMENTS

Current 115,941 93,500

13. ACCUMULATED FUNDS

5,533,173 6,088,745


ACN 000 076 853


2015 $

2014 $

9. PROPERTY, PLANT AND EQUIPMENT(continued)

Reconciliation of movements (continued)

Total property, plant and equipment 7,238,302 7,850,195

10. TRADE AND OTHER PAYABLES

Current – 1,065,958 1,080,801

11. INTEREST BEARING LIABILITIES

Current Secured 87,842 87,190


ACN 000 076 853


2015 $

2014 $

11. INTEREST BEARING LIABILITIES (continued)

Noncurrent Secured 1,800,249 1,746,063

Member’s loans 2015

$ 2014 $

12. EMPLOYEE ENTITLEMENTS

Current 115,941 93,500

13. ACCUMULATED FUNDS

5,533,173 6,088,745


ACN 000 076 853


14. COMMITMENTS

Hire Purchase Commitments

2015

$ 2014 $

238,091 183,253 238,091 183,253

Capital Commitments Operating Lease Commitments

2015

$ 2014 $

78,585 178,523

15. RELATED PARTIES (a) Directors

directors’ remuneration was paid during the year.

(b) Other Key Management Personnel

other than the directors listed in the Directors’ Report.


ACN 000 076 853


15. RELATED PARTIES (continued)

(c) Other related party transactions

2015 $

2014 $

Amounts recognised in the statement of comprehensive income:

16. NOTES TO STATEMENT OF CASH FLOWS (a) Reconciliation of cash

2015

$ 2014 $

1,229,942 1,134,814

(b) Reconciliation of Net Cash Flows from Operating Activities with Operating Deficit after Income Tax

106,613 55,897


ACN 000 076 853


14. COMMITMENTS

Hire Purchase Commitments

2015

$ 2014 $

238,091 183,253 238,091 183,253

Capital Commitments Operating Lease Commitments

2015

$ 2014 $

78,585 178,523

15. RELATED PARTIES (a) Directors

directors’ remuneration was paid during the year.

(b) Other Key Management Personnel

other than the directors listed in the Directors’ Report.


ACN 000 076 853


15. RELATED PARTIES (continued)

(c) Other related party transactions

2015 $

2014 $

Amounts recognised in the statement of comprehensive income:

16. NOTES TO STATEMENT OF CASH FLOWS (a) Reconciliation of cash

2015

$ 2014 $

1,229,942 1,134,814

(b) Reconciliation of Net Cash Flows from Operating Activities with Operating Deficit after Income Tax

106,613 55,897


ACN 000 076 853


17. FINANCIAL RISK MANAGEMENT

The company’s activities expose Market risk

(i) Currency risk

(ii) Interest rate risk

The company’s

Credit Risk financial loss to the company. The majority of the company’s revenue is received in advance or in Liquidity Risk Net Fair Value

18. STATUTORY STATUS

The company’s registered office and principal place of business is at:


ACN 000 076 853

DIRECTORS’ DECLARATION FOR THE YEAR ENDED 30 SEPTEMBER 2015

In the directors’ opinion:

;

giving a true and fair view of the company’s financial position as at 30 September 201;

PRESIDENT FINANCE DIRECTOR Sydney, NSW 19 November 2015


ACN 000 076 853


17. FINANCIAL RISK MANAGEMENT

The company’s activities expose Market risk

(i) Currency risk

(ii) Interest rate risk

The company’s

Credit Risk financial loss to the company. The majority of the company’s revenue is received in advance or in Liquidity Risk Net Fair Value

18. STATUTORY STATUS

The company’s registered office and principal place of business is at:


ACN 000 076 853

DIRECTORS’ DECLARATION FOR THE YEAR ENDED 30 SEPTEMBER 2015

In the directors’ opinion:

;

giving a true and fair view of the company’s financial position as at 30 September 201;

PRESIDENT FINANCE DIRECTOR Sydney, NSW 19 November 2015

21


(A Company Limited by Guarantee)

ACN 000 076 853

INDEPENDENT AUDIT REPORT To the members of Bayview Golf Club Limited:

We have audited the accompanying financial report of Bayview Golf Club Limited, which comprises the statement of financial position as at 30 September 2015, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration, for the company.

Directors’ Responsibility for the Financial Report

The directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

Our audit did not involve an analysis of the prudence of business decisions made by directors or management.

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

22


ACN 000 076 853

INDEPENDENT AUDIT REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2015

(continued)

Independence

In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, given to the directors of the company on 16 November 2015, would be in the same terms if provided to the directors as at the time of this auditor’s report.

Opinion In our opinion the financial report of Bayview Golf Club Limited is in accordance with the Corporations Act 2001, including:

(a) giving a true and fair view of the company’s financial position as at 30 September 2015 and its performance for the year ended on that date; and

(b) complying with Australian Accounting Standards and the Corporations Regulations 2001.

Significant Uncertainty Regarding Going Concern

Without modifying our opinion, we draw attention to note 1. The Club has recently extended the loan maturity date from 2016 to 2018 however the company is required to either sell land or extend or replace existing finance facilities to be able to repay loans when due in February 2018. If the company cannot sell land or extend or replace its existing finance facilities then there exists a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern and therefore, the company may be unable to realise its assets and discharge its liabilities in the normal course of business.

HLB Mann Judd S James Chartered Accountants Partner Sydney, NSW 19 November 2015

21


(A Company Limited by Guarantee)

ACN 000 076 853

INDEPENDENT AUDIT REPORT To the members of Bayview Golf Club Limited:

We have audited the accompanying financial report of Bayview Golf Club Limited, which comprises the statement of financial position as at 30 September 2015, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration, for the company.

Directors’ Responsibility for the Financial Report

The directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

Our audit did not involve an analysis of the prudence of business decisions made by directors or management.

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

22


ACN 000 076 853

INDEPENDENT AUDIT REPORT


(continued)

Independence

In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, given to the directors of the company on 16 November 2015, would be in the same terms if provided to the directors as at the time of this auditor’s report.

Opinion In our opinion the financial report of Bayview Golf Club Limited is in accordance with the Corporations Act 2001, including:

(a) giving a true and fair view of the company’s financial position as at 30 September 2015 and its performance for the year ended on that date; and

(b) complying with Australian Accounting Standards and the Corporations Regulations 2001.

Significant Uncertainty Regarding Going Concern

Without modifying our opinion, we draw attention to note 1. The Club has recently extended the loan maturity date from 2016 to 2018 however the company is required to either sell land or extend or replace existing finance facilities to be able to repay loans when due in February 2018. If the company cannot sell land or extend or replace its existing finance facilities then there exists a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern and therefore, the company may be unable to realise its assets and discharge its liabilities in the normal course of business.

HLB Mann Judd S James Chartered Accountants Partner Sydney, NSW 19 November 2015

23


ACN 000 076 853

INDEPENDENT AUDITOR’S STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2015

Our audit examination was made for the purpose of forming an opinion on the financial report prepared to provide information to members of the company ("the statutory financial report"). The supplementary information set out on pages 24 to 31 is presented for the purposes of additional analysis but does not form part of the audited financial report. The information presented is in accordance with the accounting records maintained by the company but amounts stated therein have not necessarily been verified as part of our audit examination.

HLB Mann Judd S P James Chartered Accountants Partner Sydney, NSW 19 November 2015


ACN 000 076 853

DETAILED INCOME AND EXPENDITURE STATEMENT (UNAUDITED)


2015

$ 2014 $

INCOME AND EXPENDITURE ACCOUNT Income – – –

– – – Expenditure Net deficit for the year *(555,572) (750,997)


ACN 000 076 853

DETAILED INCOME AND EXPENDITURE STATEMENT (UNAUDITED)


2015

$ 2014 $

INCOME AND EXPENDITURE ACCOUNT Income – – –

– – – Expenditure Net deficit for the year *(555,572) (750,997)


ACN 000 076 853

DETAILED INCOME AND EXPENDITURE STATEMENT (UNAUDITED) FOR THE YEAR ENDED 30 SEPTEMBER 2015

Schedule 1 2015

$ 2014 $

Bar Trading Account Expenses

49,732 15,646


ACN 000 076 853


Schedule 2 2015 $

2014 $

Kitchen Account Expenses

31,551 51,883


ACN 000 076 853


Schedule 1 2015

$ 2014 $

Bar Trading Account Expenses

49,732 15,646


ACN 000 076 853


Schedule 2 2015 $

2014 $

Kitchen Account Expenses

31,551 51,883


ACN 000 076 853


Schedule 3 2015

$ 2014 $

Administration Expenses

1,029,221 1,028,167


ACN 000 076 853


Schedule 4 2015

$ 2014 $

Course Account Expenses

1,147,830 1,115,508


ACN 000 076 853


Schedule 3 2015

$ 2014 $

Administration Expenses

1,029,221 1,028,167


ACN 000 076 853


Schedule 4 2015

$ 2014 $

Course Account Expenses

1,147,830 1,115,508


ACN 000 076 853


Schedule 5 2015

$ 2014 $

House Account

Expenses

Total expenses

243,781 245,284


ACN 000 076 853


Schedule 6 2015

$ 2014 $

Match Account Income Expenses – –

463,606 431,840


ACN 000 076 853


Schedule 5 2015

$ 2014 $

House Account

Expenses

Total expenses

243,781 245,284


ACN 000 076 853


Schedule 6 2015

$ 2014 $

Match Account Income Expenses – –

463,606 431,840


ACN 000 076 853

EXPENSES FOR 2015 AND 2014

2015 $

2014 $

Increase/ (Decrease)

% 3,693,775 3,687,193 0%

COMPARATIVE FIGURES FOR TEN YEARS

Year

Income

Operating Profit (Loss)

Net

Purchases

Wages

Depreciation And Other Expenses

Capital

Expenditure


1825 PITTWATER ROAD MONA VALE NSW 2103

OFFICE: (02) 9999 3786 Fax: (02) 9979 5806

Club SponsorsDirectors, Management & Members of Bayview Golf Club would like to thank all of our club sponsors for their generous assistance throughout the year.

Major Hole & Cart Sponsors

1st Hole – G Brothers Mercedes

2nd Hole – The Travel Authority

3rd Hole – Pacific Boating

4th Hole – Global Self Storage

5th Hole - Aveo – Bayview Gardens

6th Hole – Blue Sky Drafting

7th Hole - Stone Hance

8th Hole - Bayview Beach Real Estate

9th Hole – Aussie Travel Cover

10th Hole – Beach Houses Australia

11th Hole - Blenkhorn and Associates

12th Hole – The Mortgage Professionals

13th Hole – Polo Smash Repairs

14th Hole - Newport Computers

15th Hole – Loquat Valley School

16th Hole – E&A Lawyers

17th Hole – Sydney Pet Boarding

18th Hole – Northern Beaches Dental

Embroid Me

MVQB

Reiki Touch

Mark Bridge Jewelers

Concept Audio Visual

CAV

Greg Johnson & Associates

Synthetic Grass Services

Formations Architecture

Northern Beaches Commercial

Date post:	30-Mar-2018
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Bayview Golf Club Limited Annual · PDF file · 2015-11-30Bayview Golf Club Limited...

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