Cscc 2012 2013 annualreport web

A.C.N. 008 488 855

Canberra Southern Cross Club Ltd Annual Report 2012 - 2013

A.C.N. 008 488 855


A.C.N. 008 488 855

Contents

President’s Report 4

Directors’ Report 6

Auditor’s Independence Declaration 10

Consolidated Financial Statements 11

Director’s Declaration 21

Auditor’s Report 22

Graphs 24

Board of Directors 26

Corporate Information 27

Canberra Southern Cross Club LimitedA.C.N. 008 488 855

Concise annual financial report for the year ended 24 June 2013

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President’s Report

The financial year 2012-13 will be remembered as a difficult year for the Canberra Southern Cross Club, and indeed all clubs across the ACT. The uncertain political environment in which we live affects Canberra’s spending, and causes a general downturn in clubs’ patronage across Canberra. Unfortunately, governments and departments can be slow to react to the changed market conditions faced by clubs. In this respect, the club movement through ClubsACT must deal with yet another proposal from the ACT to further tax clubs. If the taxation burden on clubs isn’t lessened, there is no doubt that more clubs will become financially unviable, and close, resulting in a loss of valuable community services and facilities.

This year, the Canberra Southern Cross Club won Club of the Year (large category) for our Woden venue, as well as awards in six other categories: Community Assistance (Woden), Member Services (Woden), Best Conference and Events Centre (Woden), Responsible Gaming and Gaming Facility (Tuggeranong), Outstanding Club Governance (Jamison), and the Young Achiever Award (Ryan Spiteri).

Despite a tough environment your club continues to improve member facilities and services.

1. Complete Stage 2 at the Yacht Club, with a much needed renovation of the dining and lounge spaces, as well as an enlarged and modernised kitchen. If you haven’t been to the Yacht club for some time, I really urge you to visit and try out the cuisine. You will be pleasantly surprised at the quality of the food, and enjoy the new surroundings. This change has seen an

improvement in the patronage at this venue, and if it continues to improve, the Board will consider commencing Stage 3 which includes a revamp of the outside, including a new larger balcony as well as improved access to the front of the Club.

2. A new larger car park at Tuggeranong. With all the developments around the Southern Cross Club Tuggeranong, parking on the street, or on nearby empty blocks was no longer an option for members. In order to ensure members can park their cars when using the club, the members’ car parking has been expanded and now provides easier and secure access for members.

3. Grow the Health and Fitness business with a new Anytime Fitness club near our Jamison venue. Since June 30, the club has also acquired a new Anytime Fitness club in Weston Creek. These facilities are proving to be very popular with members and are a key part of the club’s strategy to further diversify income from gaming.

4. Plan on possible club uses for the old Pitch and Putt site. The club is committed to providing facilities for members and the wider community on this site that improve the services in the Woden area, are financially viable and further advance the strategy of income diversification. We will provide more information on these plans as they develop.

From a financial perspective, the Club has been affected by the general downturn in the market and has posted an operating loss, which has been further increased by an accounting write down of goodwill of some

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$506,000. Any loss is a serious issue, and the Board with senior management are working diligently to reverse the position, through measures to grow revenue and to contain costs. You can assist by using your local Southern Cross Club more.

On a positive note

• The parent company, Canberra Southern Cross Club reduced its debt by $744,000 last year and maintained its governance program of Risk Management and Audit programs on schedule as well as a review on the Board’s effectiveness.

• The club contributed $1.4m in cash and in-kind support to local sporting and community groups, continuing the Club’s proud history of community-giving so as to support the many local groups who make a real difference to the lives of Canberrans.

I would like to acknowledge the outstanding contribution of former Board director Adrian O’Loughlin who served the Club and its members with distinction for 36 years. Adrian retired from the Board on 28 February 2013.

I would like to thank as always the staff whose attitude and dedication make our club. I would also like to thank my fellow directors and the executive management team, particularly CEO Greg Mitchell, and CFO Carol Sawyer for professionally leading and managing the club through the current market.

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Directors’ ReportThe directors of Canberra Southern Cross Club Limited submit herewith the annual financial report on the consolidated entity for the financial year ended 24 June 2013. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:

DirectorsThe following persons were directors of Canberra Southern Cross Club Limited during the whole of the financial year and up to the date of this report, unless otherwise stated:

J.J. Lewis

K. Marshall

R.W. Lloyd

S.C. Plummer

C. Behrens

D.N. Grimmond

M.B. Laughlin

J.A. O’Loughlin (resigned 28.2.2013)

J.J. Rice

P.L. Rollings

J.A. Ryan (appointed 02.04.2013)

Principal activitiesThe consolidated entity’s activity in the course of the financial year was the operation of licensed club facilities.

During the financial year there was no significant change in the nature of that activity

The entity’s short term objectives are:

• To provide a diverse range of services and amenities to members and their guests based on Christian standards.

• Providing for families through offering family friendly facilities.

• To provide support to the community either financially, through donation of food or by providing facilities.

The entity’s long term objectives are:

To be the premier club in the Australian Capital Territory by:

• Developing and reviewing a strategy for quality investments, services and memberships;

• Maintaining innovative, diverse responsible cost effective services to members;

• Exploring and developing opportunities for diversifying investments;

• Fostering family values and Christian standards;

• Being recognised for providing positive and constructive community support.

To achieve these objectives, the entity has adopted the following strategies:

The Club strives to attract and retain quality staff that are committed to working in the hospitality industry. The Club believes that retaining quality staff will assist with the success of the Club in both the short and long term.

The Club is committed to providing excellent customer service. This is achieved through the Club’s Customer Service Charter and training staff in technical skills and knowledge. The Club prides itself on productive working relationships of its staff.

Through the Club’s culture of Christian standards, the Club continues to meet consistent high level of community support through the annual grants program together with a comprehensive sporting grants program. In addition to these major programs the Club is committed to the wider community by providing facilities and donated food, this is evidenced by ongoing support of various community groups.

The Club has strong financial management and corporate governance systems which is managed through the Club’s business plan, key performance indicators, risk management plan and internal audit program. Monitoring of financial performance is reviewed on a monthly basis by executive management and Directors.

Concise Annual Financial Report For the year ended 24 June 2013

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Directors’ Report (continued)DividendsIn accordance with the constitution, the company is a company limited by guarantee to the extent of $2.00 per member, and accordingly no shares or debentures have been issued and no dividends have been recommended or paid since the start of the financial year.

Review of operationsOperations comprised the running of licensed club facilities and the provision of member services.

Significant changes in the state of affairsDuring the financial year there was no significant change in the state of affairs of the consolidated entity other than that referred to in the financial statements or notes thereto.

Matters subsequent to the end of the financial yearThere has not been any matter or circumstance that has arisen since the end of the financial year, that has significantly affected, or may significantly affect, the operations of the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity in future financial years.

Likely developments and expected results of operationsDisclosure of information regarding likely developments in the operations of the consolidated entity in future financial years and the expected results of those operations is likely to result in unreasonable prejudice to the consolidated entity. Accordingly, this information has not been disclosed in this report.

Environmental regulationThe Club is not subject to any significant environmental regulations.

Information on directorsName Special Responsibilities Years Service Occupation

J.J. Lewis BA (Acc) Grad Diploma IT, FAICD, CPA

President 10 Company Manager

K. Marshall Senior Vice President 10 Public ServantR.W. Lloyd MAICD Vice President 17 RetiredS.C. Plummer Vice President 14 ManagerC. Behrens B.Ec/LLB Director 7 Senior Executive LawyerD.N. Grimmond OAM FREIA Director 12 Real Estate AgentM.B. Laughlin BA Director 20 Public ServantJ.A. O’Loughlin AFSAE Director 36 (resigned

28.02.2013)Executive Director

J.J. Rice B Econ. Director 32 RetiredP.L. Rollings Director 22 RetiredJ. Ryan B.Ec, MEc, GAICD, PSM Director 5 (appointed

02.04.2013)Consultant Company Director

Company secretary The company secretary is Carol Sawyer. Carol Sawyer is also the Chief Financial Officer of the Canberra Southern Cross Club.

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Meetings of Committees

Board of Directors Meetings

Financial Management

Committee

Member Services Committee

Planning and Governance Committee

Directors A B A B A B A B

C. Behrens 12 12 12 9 12 10 - -D.N. Grimmond 12 9 - - 12 9 12 11M.B. Laughlin 12 10 12 11 12 10 - -J.J. Lewis 12 11 - - - - - -R.W. Lloyd 12 10 - - - - 12 12K. Marshall 12 12 - - 12 11 - -J.A. O’Loughlin (resigned 28.2.2013)

12 8 12 8 - - 12 8

S.C. Plummer 12 12 12 12 - - - -J.J. Rice 12 10 - - 12 9 12 11P.L. Rollings 12 12 12 9 - - 12 12J.A. Ryan (appointed 02.04.2013)

3 3 3 3 - - 3 3

A = Number of meetings held during the time the director held office or was a member of the committee during the year

B = Number of meetings attended

In all cases of absences, directors were absent on club business, on leave or absent due to work commitments. In all instances leave of absence was sought and approved.

Meetings of directors The following table sets out the number of directors’ meetings (including meetings of committees of directors) held during the financial year and the number of meetings attended by each director (while they were a director or committee member).

Indemnification of officers During the financial year, the company paid a premium in respect of a contract insuring the directors of the company (as named above), the company secretary, and all executive officers of the company and of any related body corporate against a liability incurred as such a director, secretary or executive officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium.

The consolidated entity has not otherwise, during or since the financial year, indemnified or agreed to indemnify an officer or auditor of the company or of any related body corporate against a liability incurred as such an officer or auditor.

Proceedings on behalf of the company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the company, or to intervene in any proceedings to which the company is a party, for the purpose of taking responsibility on behalf of the company for all or part of those proceedings.

No proceedings have been brought or intervened in on behalf of the company with leave of the Court under section 237 of the Corporations Act 2001.

Directors’ Report (continued)

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Auditor’s independence declaration

A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 10.

Signed in accordance with a resolution of the directors made pursuant to Section 298(2) of the Corporations Act 2001.

J.J. Lewis President

S.C. Plummer Vice President

Canberra, ACT 2 September 2012

Directors’ Report (continued)

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These financial statements are the consolidated financial statements of the consolidated entity consisting of Canberra Southern Cross Club Limited and its subsidiaries. The financial statements are presented in the Australian currency.

Canberra Southern Cross Club Limited is a company limited by guarantee, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Canberra Southern Cross Club Limited 92-96 Corinna Street Woden ACT 2606

The financial statements were authorised for issue by the directors on 2 September 2013. The directors have the power to amend and reissue the financial statements.

Canberra Southern Cross Club LimitedA.C.N. 008 488 855

Concise Annual Financial report for the year ended 24 June 2013

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Consolidated Statement of Comprehensive Income for the year ending 24 June 2013

Notes 2013 $

2012 $

Revenue 2 51,991,092 50,659,640Cost of sales (12,485,178) (12,367,217)Administration expenses (27,484,774) (25,668,566)Finance costs (504,195) (636,691)Marketing expenses (1,290,315) (1,372,958)Occupancy expenses (8,200,677) (8,360,196)Operating lease expenses (1,208,920) (1,109,789)Show expenses (498,227) (398,362)Impairment of goodwill (506,713) -Other expenses (503,788) (395,642)(Loss)/profit before income tax (691,695) 350,219

Income tax expense (63,970) (40,460)(Loss)/profit for the year (755,665) 309,759

Other comprehensive incomeItems that will not be reclassified to profit or lossElimination of investment in associate - (1,443,280)Total comprehensive income for the year (755,665) (1,133,521)

(Loss)/profit is attributable to:Owners of Canberra Southern Cross Club Limited (755,665) 256,288Non controlling interests - 53,471

(755,665) 309,759Total comprehensive income for the year is attributable to:Owners of Canberra Southern Cross Club Limited (755,665) (1,133,521)

The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

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Consolidated Balance Sheet As at 24 June 2013

Notes 2013 $

2012 $

ASSETSCurrent assetsCash and cash equivalents 3,790,530 5,619,999Trade and other receivables 546,571 719,769Inventories 409,659 481,592Short term bank deposits 178,942 171,991Prepayments 267,407 223,800Total current assets 5,193,109 7,217,151

Non current assetsProperty, plant and equipment 48,570,354 47,758,955Advances 33,800 35,000Goodwill 21,100 506,713Intangibles 67,450 -Total non current assets 48,692,704 48,300,668

Total assets 53,885,813 55,517,819

LIABILITIESCurrent liabilitiesTrade and other payables 4,014,658 3,569,543Borrowings 1,185,861 976,754Current tax liabilities - 14,687Employee benefits 1,210,330 1,268,600Unearned revenue 866,582 902,817Total current liabilities 7,277,431 6,732,401

Non current liabilitiesBorrowings 4,791,870 5,700,622Employee benefits 40,748 43,367Total non current liabilities 4,832,618 5,743,989

Total liabilities 12,110,049 12,476,390

Net assets 41,775,764 43,041,429

EQUITYRetained earnings 41,775,764 42,921,798Non controlling interests - 119,631

Total equity 41,775,764 43,041,429

The above consolidated balance sheet should be read in conjunction with the accompanying notes.

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Consolidated Statement of Changes in Equity For the year ending 24 June 2013

Retained earnings

$

Non-controlling interests

$

Total equity

$Balance at 27 June 2011 44,097,617 66,160 44,163,777Profit for the year 256,288 53,471 309,759Other comprehensive income (1,443,280) - (1,443,280)Adjustment to equity on consolidation 11,173 - 11,173Balance at 25 June 2012 42,921,798 119,631 43,041,429

Balance at 25 June 2012 42,921,798 119,631 43,041,429Loss for the year (755,665) - (755,665)Elimination of non controlling interest - (119,631) (119,631)Acquisition of outstanding subsidiary shares (390,369) - (390,369)Balance at 24 June 2013 41,775,764 - 41,775,764

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

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Consolidated Statement of Cash Flows For the year ending 24 June 2013

2013 $

2012 $

Cash flows from operating activitiesReceipts from customers 56,553,955 56,018,689Payments to suppliers and employees (49,566,278) (47,897,313)Interest and other costs of finance paid (504,195) (636,691)Income taxes paid 14,687 (25,773)Net cash inflow (outflow) from operating activities 6,498,169 7,458,912

Cash flows from investing activitiesInterest received 70,901 81,741Cash on acquisition - 81,821Payment for investment in subsidiary (510,000) (432,500)Payments for purchase of property, plant and equipment (7,309,533) (5,486,720)Net cash (outflow) inflow from investing activities (7,748,632) (5,755,658)

Cash flows from financing activitiesRepayment of borrowings (945,867) (1,624,200)Proceeds from borrowings 1,016,000 -Finance lease payments (649,139) (39,344)Net cash (outflow) inflow from financing activities (579,006) (1,663,544)

Net increase (decrease) in cash and cash equivalents (1,829,469) 39,710Cash and cash equivalents at the beginning of the financial year 5,619,999 5,580,289Cash and cash equivalents at end of year 3,790,530 5,619,999

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

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Notes to the Consolidated Financial Statements For the Financial Year Ended 24 June 20131 Summary of significant accounting policiesThe concise financial report is an extract from the full financial report for the year ended 24 June 2013. The concise financial report has been prepared in accordance with Accounting Standard AASB 1039: Concise Financial Reports and the Corporations ACT 2001.

The financial statements, specific disclosures and other information included in the concise financial report are derived from, and are consistent with, the full financial report of Canberra Southern Cross Club Limited and its subsidiaries. The concise financial report cannot be expected to provide as detailed an understanding of the financial performance, financial position and financing and investing activities of Canberra Southern Cross Club and its subsidiaries as the full financial report. A copy of the full financial report and auditor's report will be sent to any member, free of charge, upon request.

The presentation currency used in this concise financial report is Australian dollars.

2 Revenue2013

$2012

$Revenue consisted of the following items:

Gaming revenueWoden gaming 12,499,483 13,140,991Yacht gaming 151,576 170,723Tuggeranong gaming 8,010,894 7,955,331Jamison gaming 3,846,745 3,953,119Turner gaming 343,786 322,223Kaleen gaming 279,920 418,196

Total gaming revenue 25,132,404 25,960,583

Other revenueRevenue from sale of goods 18,437,046 16,987,118Rental revenue 742,664 632,960Interest revenue 70,901 81,741Membership income 5,243,632 4,821,426Members entertainment income 279,639 272,144Other 2,084,806 1,903,668

Total other revenue 26,858,688 24,699,057

Total revenue 51,991,092 50,659,640

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Notes to the Consolidated Financial Statements (continued)3 Expenses

2013 $

2012 $

Profit before income tax includes the following specific expenses:

Finance costs:Interest other entities 303,417 552,831Interest finance leases 23,100 83,860

Bad debts written off 16,653 5,906

Depreciation:Buildings 2,080,508 2,089,872Property, plant and equipment 4,380,126 4,258,888Leased assets - 222,902

Total depreciation 6,460,634 6,571,662

Operating lease rental expenses:Minimum lease payments 1,287,075 323,349

Employee benefits:Defined contribution superannuation expense 1,256,793 1,183,594Termination benefits - 23,478Other employee benefits 14,681,538 13,412,311Total employee benefits 15,938,331 14,619,383

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Notes to the Consolidated Financial Statements (continued)4 Key management personnel disclosures(a) Directors

The following persons were directors of Canberra Southern Cross Club Limited during the financial year:(i) President

J.J. Lewis BA (Acc) Grad Diploma IT, FAICD, CPA

(ii) Senior Vice President

K. Marshall

(iii) Vice President

R.W.Lloyd, MAICD

S.C.Plummer

(iv) Directors

C. Behrens, B.Ec/LLB

D.N. Grimmond, OAM FREIA

M.B. Laughlin, B Arts

J.A. O’Loughlin, AFSAE (resigned 28.02.2013)

J. Rice, B. Econ.

P.L. Rollings

J.A. Ryan, BEC MEC GAICD PSM (appointed 02.04.2013)

The specified executives of the company and the consolidated entity during the year were:

G. Mitchell (Chief Executive Officer & Company Secretary to 6 May 2013)

C. Sawyer (Chief Financial Officer & Company Secretary from 6 May 2013)

W. Willcott (Finance Manager)

(b) Key management personnel compensation

The aggregate compensation of the key management personnel of the consolidated entity and the company, is set out below:

2013 $

2012 $

Short term employee benefits 719,228 773,888Other long term benefits 6,188 9,642

725,416 783,530

(c) Employee’ remuneration

Section 54 of the Gaming Machine Act 2004 requires employee remuneration above the prescribed amount of $100,000 to be reported in the financial statements. During the year there were 10 employees, 9 of whom received total remuneration between $100,000 and $200,000, and 1 who received between $200,000 and $300,000 (2012: 7 executives).

In 2011-12 only executives remuneration over $100,000 was required to be disclosed. From 2012-13 all employees who received remuneration over $100,000 is required to be disclosed.

(d) Directors remuneration

Included within key management remuneration in note 4(b) above is remuneration paid or payable, or otherwise made available, in respect of the financial year, to all directors of the company, directly or indirectly, by the company or by any related party. This represents payments for out of pocket expenses as approved at the 2012 Annual General meeting in accordance with item 12.6 of the Club’s constitution.

2013 $

2012 $

Directors remuneration 121,455 118,742

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Notes to the Consolidated Financial Statements (continued) 5 Additional company informationEvery member undertakes to contribute to the assets of the company in the event of and for the purposes of the winding up of the company, an amount not exceeding $2. There were 83,874 members at 24 June 2013 (2011: 84,084 members).

2013 Total membersMembership classesOrdinary 79,381Religious 392Country 3,397Contributing Life Members 659Honorary Life Members 45

83,874

6 Remuneration under contractual agreements and consultanciesContractors or consultants who received or were due to receive $49,999 or more under contractual arrangements:

A1 Premium Services

ACTEWAGL Gas

ACTEWAGL Retail

BEST in GRASS

ALSCO Pty Ltd

Anittel Communications Pty Ltd

Aristocrat Leisure Industries

Elite Group (ACT) Pty Ltd

Canberra North Bowling Club

Chubb Security Services

Epicurean Contract Caterers

CCS Facilities Maintenance

Rose Cleaning Services

G.E. Shaw & Associates Pty Ltd

Leader Security Pty Ltd

H.Pie Pty Ltd

Premier Venue Entertainment

Reel Gaming Solutions

Konica Minolta Business

Sky Channel Pty Ltd

Micros Fidelio Australia Pty Ltd

Transact Capital Communication

Eastlake Football Club

Thiess Services Pty Ltd

Leading Edge Amusements

RSM Bird Cameron

PricewaterhouseCoopers

Project Coordination

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Notes to the Consolidated Financial Statements (continued)7 Director benefitsSection 54(d) of the Gaming Machine Act 2004 requires that any benefits that have been taken by a person during the financial year be reported in the annual report.

The company has provided the following benefits during the financial year:

Position Description & purpose Monetary value Who offered the benefit

Directors partners (10) Hospitality provided to spouse/guest while in attendance with Director at official functions, seminar or internal club events.

$10,583 Canberra Southern Cross Club

Directors partners (2) Official function for club sponsored sporting group while in attendance with Director

$100 Tuggeranong Hawks

Directors partner (1) Official function for club sponsored sporting group while in attendance with Director

$100 Wests Rugby Union club

Directors partners (5) Official function for club sponsored charity group

$700 ACT Eden Monaro Ball

Director partner Official function for club sponsored sporting group while in attendance with Director

$220 Royals Rugby Union club

Directors partners (7) ClubsACT Awards while in attendance with Director


Director partner Official function for club sponsored sporting group while in attendance with Director

$50 Canberra Yacht Club

Director (1) & partner Farewell gift $640 Canberra Southern Cross Club

Senior Management (3) Hospitality provided to partner/guest while in attendance with Management at official functions, Club planning seminar or internal club events while in attendance with management


Director (1) & Management (1)

Canberra Raiders game $200 Aristocrat Technologies

Senior Management (1) Brumbies game $100 Lion Nathan

Senior Management (1) Brumbies game $100 Bradley Allen Love Lawyers

Senior Management (1) Australian Rugby game $100 TransAct

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Directors’ Declaration24 June 2013In the directors’ opinion:

(a) the financial statements and notes set out on pages 11 to 20 are in accordance with the Corporations Act 2001, including:

(i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements, and

(ii) giving a true and fair view of the consolidated entity’s financial position as at 24 June 2013 and of its performance for the financial year ended on that date, and

(b) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the directors.

J.J. Lewis President

S.C. Plummer Vice President

Canberra, ACT

2 September 2013

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Canberra Southern Cross Club Ltd Trading Results

Consolidated Expenses From Ordinary Activities 2012/13

Depreciation and amortisation - $6.2 MillionUtilities (Electricity, Fuel, Telephone and Rates) - $2.4 MillionSalaries & On Costs - $18 MillionGaming Promotions - $2.4 MillionCost of Goods - $12.4 MillionOther Expenses- $11.3 Million

12%

5%

34%

4%

23%

22%

Club Food Trading 2012/13

Cost of Goods - $4.2 MillionWages and On Costs - $6.4 MillionDepreciation - $0.3 MillionOther Expenses - $1.0 MillionOperating Surplus - $0.8 Million

33%

50%

3%

8%

6%

Club Members Entertainment Trading 2012/13

Entertainment Expenses - $0.4 MillionMembers Promotion Expenses - $0.4 MillionOther Expenses- $0.5 MillionWages and On Costs - $1.2 MillionOperating De�cit - ($1.6 Million)

-39%

11%

9%

13%

28%

Sport and Recreation Trading 2012/13

-21%

28%

Wages and On Costs - $0.4 MillionDepreciation - $0.2 MillionOther Expenses - $0.7 MillionOperating De�cit - ($0.3 Million)

9%

42%

Distribution of Poker Machine Dollar

Return to Player

Direct Expenses including taxes and community expenses

Club Hold

3%

91%

6%

Consolidated Revenue From Ordinary Activities 2012/13

Gaming Revenue - $25.0 MillionBeverage Revenue - $7.0 MillionFood Revenue - $12.7 MillionMembership Income - $5.2 MillionMembers Entertainment Income - $0.4 MillionOther Revenue- $1.7 Million

48%

3%1%

10%

24%

14%

Club Gaming Trading 2012/13

Gaming Machine Levy - $5.5 MillionWages and On Costs - $3.0 MillionGaming Promotions - $2.4 MillionDepreciation - $2.6 MillionOther Expenses - $1.8 MillionOperating Surplus- $9.9 Million

22%

12%

10%

10%7%

39%

Club Liquor Trading 2012/13

Cost of Sales - $2.6 MillionDepreciation Expense - $0.2 MillionWages and On Costs - $2.4 MillionOther Expenses - $0.5 MillionOperating Surplus - $1.3 Million

35%

2%

37%

19%

7%

2. Consolidated Expenses from Ordinary Activities 2012/13



12%

5%

34%

4%

23%

22%



33%

50%

3%

8%

6%



-39%

11%

9%

13%

28%


-21%

28%


9%

42%


Return to Player


Club Hold

3%

91%

6%



48%

3%1%

10%

24%

14%



22%

12%

10%

10%7%

39%



35%

2%

37%

19%

7%

4. Food Trading 2012/13

1. Consolidated Revenue from Ordinary Activities 2012/13Consolidated Expenses From Ordinary Activities 2012/13


12%

5%

34%

4%

23%

22%



33%

50%

3%

8%

6%



-39%

11%

9%

13%

28%


-21%

28%


9%

42%


Return to Player


Club Hold

3%

91%

6%



48%

3%1%

10%

24%

14%



22%

12%

10%

10%7%

39%



35%

2%

37%

19%

7%

3. Liquor Trading 2012/13Consolidated Expenses From Ordinary Activities 2012/13


12%

5%

34%

4%

23%

22%



33%

50%

3%

8%

6%



-39%

11%

9%

13%

28%


-21%

28%


9%

42%


Return to Player


Club Hold

3%

91%

6%



48%

3%1%

10%

24%

14%



22%

12%

10%

10%7%

39%



35%

2%

37%

19%

7%

Note: The graphs 3 and 4 are attributable to the parent company Canberra Southern Cross Club Limited and not the consolidated entity.

25


A.C.N. 008 488 855

Note: The graphs 5 to 8 are attributable to the parent company Canberra Southern Cross Club Limited and not the consolidated entity.



12%

5%

34%

4%

23%

22%



33%

50%

3%

8%

6%



-39%

11%

9%

13%

28%


-21%

28%


9%

42%


Return to Player


Club Hold

3%

91%

6%



48%

3%1%

10%

24%

14%



22%

12%

10%

10%7%

39%



35%

2%

37%

19%

7%



12%

5%

34%

4%

23%

22%



33%

50%

3%

8%

6%



-39%

11%

9%

13%

28%


-21%

28%


9%

42%


Return to Player


Club Hold

3%

91%

6%



48%

3%1%

10%

24%

14%



22%

12%

10%

10%7%

39%



35%

2%

37%

19%

7%

5. Gaming Trading 2012/13

7. Sport & Recreation Trading 2012/13 8. Distribution of Poker Machine Dollar 2012/13

6. Members Entertainment Trading 2012/13



12%

5%

34%

4%

23%

22%



33%

50%

3%

8%

6%



-39%

11%

9%

13%

28%


-21%

28%


9%

42%


Return to Player


Club Hold

3%

91%

6%



48%

3%1%

10%

24%

14%



22%

12%

10%

10%7%

39%



35%

2%

37%

19%

7%

26


A.C.N. 008 488 855

John LewisPresident

Kim MarshallSenior Vice President

Bob LloydVice President

Simon PlummerVice President

Paul RollingsDirector

John RyanDirector

(appointed 02.04.2013)

Christopher BehrensDirector

Adrian O’LoughlinDirector (resigned 28.2.2013)

Mary LaughlinDirector

David GrimmondDirector

Jack RiceDirector

Board of Directors

27


A.C.N. 008 488 855

Notice to Members Annual General MeetingMembers are advised that the 42nd Annual General Meeting will be held in Corinna Room 2 at the Southern Cross Club Woden on Wednesday, 9 October 2013, at 8.00pm.

AGENDA1. Apologies

2. Minutes of the 41st Annual General Meeting of 10 October 2012.

3. Presentation of Annual Report

4. Presentation of Finance Reports and Balance Sheets

5. Auditor’s Report

6. Special Resolution to amend and modify clause 13.1 (g) (iii) of the Club’s Constitution.

The amendment of clause 13.1 (g) (iii) is to classify the listing of members as per clause 7 – Number and Classes of membership, to include Honorary Life Members. The proposed amendment is as follows:

A ballot paper shall be forwarded either by mail or electronically by the Returning Officer to each Ordinary Member, Contributing Life Member, Honorary Life Member, and Country Member at least 14 days before the close of the ballot.

7. Such other business brought forward in conformity with the Constitution:

First Resolution

Setting the Director’s honoraria for out of pocket expenses in accordance with Article 12.6

Second Resolution

In accordance with S53 of the Gaming Machine Act 2004, members are required to approve expenditure incurred by the Club or third parties for staff, directors and partners to attend official functions, the directors’ annual seminar, sporting and other events on behalf of the Club as approved by the Board. The requirement for members to approve the expenditure is that the benefit is not available to all members.

The Board seeks approval for:

the expenditure incurred by the Club or third parties for staff, directors and partners (if appropriate) to attend official functions, the directors’ annual seminar, sporting and other events on behalf of the Club as approved by the Board up to a maximum of $25,000.00 for the period 9th October 2013 to 8th October 2014. This expenditure will cover the 5 Clubs associated with the Canberra Southern Cross Club Limited. Members acknowledge that these events may be considered to be benefits under the Act and are not available to all members generally.

Corporate Information8. Election of Directors

9. Election of Honorary Life Members

10. Appointment and remuneration of Auditors

11. General Business

Appointment of Proxy

As a Member you have the right to cast one vote at the Annual General Meeting, you have a right to appoint a proxy (whether or not a Member) to attend and vote on your behalf on resolutions other than the election of Directors. Proxy forms can be obtained by telephoning 6283 7210.

John Lewis

President

Canberra Southern Cross Club

NO BALLOT REQUIREDIn terms of the Club’s Constitution, three Directors are required to retire each year, but will be eligible for re-election.

This year, on a rotation basis the Directors to retire are

Simon Plummer, David Grimmond and Chris Behrens.

All were eligible for re-election and these three Directors

were re-nominated. Adrian O’Loughlin retired on

28th February 2013.

Therefore, nominations were called for on 24th June 2013 from members for election of four (4) Directors.

Nominations closed on 8th July 2013 at which time the Club had received only one other nomination to the three Directors who were re-nominated. That nomination was from Mr John Ryan.

Therefore there will be no need for an election this year.

Prior to the Annual General Meeting the Directors will meet and appoint the Board Executive, consisting of President, Senior Vice President and two Vice Presidents for the forthcoming year which will be announced at the Annual General meeting on 9th October 2013.

The Directors who did not have to stand for election this year are John Lewis, Kim Marshall, Bob Lloyd, Mary Laughlin, Jack Rice and Paul Rollings.

Carol Sawyer

Company Secretary

Canberra Southern Cross Club

Woden 6283 720092-96 Corinna Street Phillip ACT 2606

Southern Cross Health Club6283 7340 Irving Street Phillip ACT 2606

Southern Cross Sports Stadium Woden 6293 2275 Irving Street Phillip ACT 2606

Jamison 6251 2255 Cnr Catchpole & Bowman Streets Macquarie ACT 2614

Turner 6247 7838 McCaughey Street Turner ACT 2612

Yacht Club & Cruises 6273 1784 ‘Lotus Bay’ Mariner Place Yarralumla ACT 2600

Tuggeranong 6293 7200 Cnr Holwell & Pitman Streets Tuggeranong ACT 2900

Southern Cross Sports StadiumTuggeranong 6293 2275 Cnr Colishaw & Athllon Drive Tuggeranong ACT 2900

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