— Annual Report 2019 Report — Annual

Annual Report 2019 Sultana Bran League ­ One League Hockey Sultana Bran

1 — Annual Report 2019 Report — Annual

CONTENTS

Chair and Executive Report 3 ­ One League Hockey Sultana Bran League Overview 6 Women’s Competition 7 Men’s Competition 9 Financials 11 Commercial Partners 21

2 CHAIR & EXECUTIVE REPORT

Australian hockey entered a new, exciting and further grow and develop the league, when strategically important phase in 2019 with the conditions permit. successful delivery of the inaugural season of the Key achievements, all of which are unprecedented for Sultana Bran Hockey One League. Australian hockey, included: The league – an evolution of the long-standing and • Every one of the 48 games were streamed live highly respected AHL – was conceived with the bold around the country on Kayo Sports (74hrs in total) vision of building much greater profile and equity in the with the Grand Finals broadcast live on elite senior men’s and women’s hockey competitions

reaching an outstanding peak audience of 61,594; 2019 Report — Annual within the tough Australian sports market. • Over 14,300 sales of match tickets or membership The guiding mantra from the outset was that Hockey packages across the league and teams producing One would be Real Hockey. Reimagined. revenue of over $330,000; New and dynamic names, brands and colours were • Over $670,000 of total sponsorship revenue developed for each of the seven foundation clubs. recorded across the league and teams, with many Men’s and women’s teams operated under the same sponsors new to hockey; brand as genuine equals. The competition was • 2.5m impressions on www.hockeyone.com.au; and changed from a carnival-style two week tournament

• 10,117 Hockey One followers on social media ­ One League Hockey Sultana Bran to an eight-week league of home and away rounds platforms producing 171,457 engagements. and finals. A new broadcast deal was struck to televise The metrics above certainly validated the underlying the league nationally, and an innovative ‘field goal conviction from all in the Australian hockey family conversion’ rule brought more goals and memorable that the elite senior men’s and women’s competitions moments than ever before. represent an attractive product to watch, both live Through the efforts, belief and collaboration of all and on screen. The action was fast and furious, with stakeholders within the game, as well as multiple new the ‘field goal conversion’ rule in particular assisting in partners to the sport, we can reflect on an inaugural producing an impressive 271 goals across those season that both delivered on its initial objectives and 48 games. built a foundation for further growth and success. We do not intend to rest on any laurels, but will look to

3 The stars of the show – the players – were magnificent, None of the above could have transpired if not for our none more so than the Kookaburras and Hockeyroos outstanding league sponsors and partners. national squad representatives. Although the We sincerely thank Kellogg (under the iconic demanding schedule meant many were required to Sultana Bran brand) for joining as our inaugural league travel from to the eastern seaboard regularly, they naming rights sponsor. Their belief in associating relished the rare opportunity to play for their teams in such a strong Australian brand to our competition is front of home supporters, family and friends, as well as a huge endorsement, and clear message to the sports TV broadcast cameras. business market. Congratulations are due to NSW Pride for defeating We also extend appreciation to Westfund Health arch-rivals Blaze and claiming honours as Insurance, who jumped on board as official health inaugural Sultana Bran Hockey One League Men’s insurance partner, Fox Sports/Kayo Sports as Champions after an undefeated season. In the women’s broadcast partner, O’Neills Australia as official decider, a thrilling penalty shoot-out was required to apparel supplier, CrocMedia as broadcast production split hosts HC from , with the partner, CTM as travel services partner and Ticketek latter prevailing to claim their championship trophy. as ticketing partner. We also congratulate Kookaburras co-captain Eddie 2019 Report — Annual We sincerely appreciate all team sponsors and Ockenden of the for taking out the partners as well, and trust all saw both short term value inaugural MVP award for the men’s competition, and and the longer term potential of our league and the Canberra Chill’s Japanese international Shihori Oikawa sport of hockey more generally. who took out the women’s MVP. Shihori was one of the overseas players in the league, we hope for more Most of all, of course, we thank the fans who became international participation in the future. members, bought tickets, attended matches or watched on Kayo or Fox Sports, and generally bought The MVPs were determined by umpire votes, and it into the excitement of the new concept. is appropriate to recognise and thank all officials, ­ One League Hockey Sultana Bran including on and off field umpires, technical officials, The establishment and undertaking of the Sultana umpire coaches and competition directors, for their Bran Hockey One League represented a huge sterling efforts. The competition was played in fine commitment by all the entity members, namely spirit throughout, as demonstrated by the fact that and the Member Associations. Their there wasn’t a single disciplinary incident requiring respective investments, in terms of both finances and tribunal attention despite the fierce competitiveness. effort, were material in context of existing ‘business as We also thank all the players and officials for their usual’ needs and scarcity of resources. It is appropriate behaviour off the field, increasingly important for a here to thank Hockey Australia for all its support, much family sport such as hockey. of which was provided without any expectation of a financial return.

4 In particular, the buy-in of Directors and commitment this new competition in tandem with our stakeholders of respective CEOs as League Council representatives and partners. was crucial in bringing the competition to life, Obviously, those ambitions will necessarily be placed managing through the myriad details and issues, as on hold with the post financial year developments well as coordinating and motivating their staff teams. associated with COVID-19. The consequences of this It would be remiss not to make special mention of crisis continue to disrupt economies and lives around Hockey CEO Andrew Skillern, who passionately the world, with much uncertainty remaining at the time coordinated much of the early planning and concept of writing this report in terms of duration of impacts development prior to January 2019 when dedicated and recovery timetable. resources were engaged for the first time. In the unprecedented circumstances, the Board and Finally, it is also highly appropriate to acknowledge members of H1L reluctantly agreed in March this year the commitment and efforts of the Hockey One office to postpone Season 2 of the Sultana Bran Hockey One and Directors. The new Hockey 1 League Pty Ltd (H1L) League to 2021. entity Board was formalised in July 2019 and accepted Despite this unavoidable disruption, all stakeholders their voluntary responsibilities with great energy and remain determined and committed to rebound enthusiasm. The time available for the Board and strongly when the time is right, and continue the management to organise the league was extremely 2019 Report — Annual trajectory of the Sultana Bran Hockey One League to short, and is a testament to the attitude of all that the become the undisputed premier domestic hockey league was able to be run and successful. Our sincere competition in the world, and cement a rightful place thanks to all. amongst the best and highest profile Australian The GM was also joined by Ben Seccull, on secondment sporting competitions. from , as Operations Co-Ordinator in the H1L office from late July to the end of year. Ben was outstanding, and played a pivotal role in operational

delivery and season review. ­ One League Hockey Sultana Bran

In financial terms, this document later details that H1L was able to record a small surplus ($36k) in first year of operation, a rare occurrence for a start-up business. While this result is welcome and reflective of prudent management with limited resources, we acknowledge the significant net investments in the league and team operations by the member shareholders in that period.

We look forward to greater scope in future for Colin Richardson Tony Dodemaide necessary marketing and brand building investment Chair General Manager capability, to truly realise the enormous potential of Hockey 1 League Hockey 1 League 5 LEAGUE OVERVIEW

2.5 million 171,457 impressions on engagements (likes, www.hockeyone.com.au comments, shares, etc.) — Annual Report 2019 Report — Annual

Commercial $670,000 total sponsorship across League and teams 6,080 10,117 $330,000 revenue from ticket and membership sales link clicks Hockey One followers on through social social media platforms 14,300 tickets and memberships sold ­ One League Hockey Sultana Bran

On-field 271 goals scored in 48 matches

0 integrity or disciplinary issues

2,939,000 61,594 television peak reach of reach Grand Finals on Fox Sports

6 WOMEN’S COMPETITION

An exciting and highly competitive women’s competition came down to a dramatic sudden death penalty shootout in the , with Rosie Malone holding her nerve to score and send her Brisbane Blaze teammates into raptures as inaugural Sultana Bran Hockey One League Champions over hosts HC Melbourne.

In many ways it was a fitting end to a highly competitive season, unintentionally assisted by the — Annual Report 2019 Report — Annual absence mid-season of the national squad players due to the Hockeyroos’ Olympic qualifying round against Russia in Perth.

The evenness was further reflected in the voting for the inaugural women’s MVP award, where Canberra Chill’s international defender Shihori Oikawa impressed the umpires sufficiently to win a close count from Brisbane Blaze’s Ashlea Fea and HC Melbourne duo Amy Lawton and Madi Ratcliffe. ­ One League Hockey Sultana Bran

There were several surprising results, including the final home and away round upset where the previously There were 87 goals scored across the 24 competition winless Tassie Tigers defeated in matches and finals, with the Grand Finallists being an emotional encounter in , denying the visitors the most prolific teams with 20 each. Madi Radcliffe a semi-finals berth as a consequence and delivering (HC Melbourne), Miki Spano ( Fire), Britt a perfect send-off to retiring Tigers goalkeeper Holly Wilkinson (Brisbane Blaze) and Abigail Wilson Bonde. In the same round cemented (NSW Pride) were equal top scorers with 6 goals. their finals berth, and spoiled HC Melbourne’s otherwise undefeated campaign, in another thrilling penalty shootout.

7 — Annual Report 2019 Report — Annual Sultana Bran Hockey One League ­ One League Hockey Sultana Bran

8 MEN’S COMPETITION

In contrast to the women’s competition, the men’s section featured two standout teams in the inaugural season – NSW Pride and Brisbane Blaze – both packed with Kookaburra representatives and goal scoring options.

By quirk of the fixture, the teams (both undefeated to that point) met in the final round of the home and away season for bragging rights, and again unsurprisingly in the Grand Final two weeks later following comfortable — Annual Report 2019 Report — Annual semi-final victories. On both occasions it was NSW Pride coming out on top of their arch-rivals to be crowned as worthy champions with a perfect record as icing on the cake.

The action throughout the men’s competition was fast and furious, with plenty of scoring. A whopping 184 goals were recorded at an astonishing average of 7.7 per game, with the Round 4 HC Melbourne v Canberra Chill match in particular turning into a goal-fest with ­ One League Hockey Sultana Bran the keepers beaten no fewer than 15 times in total.

Other memorable matches included two 11-goal of NSW Pride was the leading season thrillers in rounds 6 and 7, both involving HC scorer with 12, followed by his teammate Melbourne. In Round 6, the home team Tigers somehow (10) and Blaze’s Joel Rintala (9). found a way back from 1-5 down in the third quarter to defeat HC Melbourne 6-5. Returning to Parkville Tassie Tigers legend (and Kookaburras record games the following week and facing the winless Adelaide holder) was judged the standout Fire, the home team had to dig deep to survive an men’s player, winning the MVP ahead of Blaze duo almighty scare, before hanging on to win with the same Matt Swann and Jake Whetton. scoreline (6-5) and locking in a semi-final berth.

9 — Annual Report 2019 Report — Annual Sultana Bran Hockey One League ­ One League Hockey Sultana Bran

10 FINANCIALS Directors’ Report 12 Directors’ Declaration 15 Statement of Comprehensive Income 16 Statement of Financial Position 16 Statement of Changes in Equity 17 Statement of Cash Flows 17

Notes to the Financial Statements 18 2019 Report — Annual Sultana Bran Hockey One League ­ One League Hockey Sultana Bran

11 DIRECTORS’ The directors of Hockey 1 League Pty Ltd (the “Company”) submit here with the report of the Company for the year ended 31 December 2019. In order to comply with the provisions of the REPORT Corporations Act 2001, the directors report as follows:

1. Directors Alexandra El-Shamy – Director 2. Company Secretary

The directors of Hockey 1 League Pty Ltd as at the date Qualifications: BAppSc Anthony Dodemaide held the position of Company of signing the Directors Report were: Secretary at the end of the financial year. Tenure: Joined the Board 11 July 2019 Colin Richardson – Chair Experience: 3 Principal activities and objectives Qualifications: BA (Hons) • General Manager Commercial & Marketing – The aim of the Hockey 1 League is to establish a contemporary, consumable sports product which Tenure: Joined the Board 11 July 2019 Paralympics Australia entertains both a live and broadcast audience, 2019 Report — Annual Experience: broadens the appeal and profile of hockey and • Managing Director – Moelis Australia Limited Martin Kelly – Director drives the marketability of hockey, in a manner that aligns with the strategic priorities and direction of • Non-Executive Director – Qualifications: BSc MMktg Hockey Australia and has consideration for its high- Twynam group Holdings Pty Ltd Tenure: Joined the Board 11 July 2019 performance needs. • Director – Hockey Australia Limited Experience: 4. Review of operations • Commercial and Channel to Marketing Manager Carolyn Campbell – Director A review of the operations of the Company during – Mimecast ­ One League Hockey Sultana Bran Qualifications: BPE Dip Ed the financial year and the financial results of the operations, found that during the financial year the Tenure: Joined the Board 11 July 2019 Stephen McMullen – Director Company established and engaged in its principal Experience: activities and objectives, the results of which are Joined the Board 11 July 2019 Tenure: disclosed in the financial statements. • Chief Executive Officer – Netball NSW Experience: • Chair – NSW Sports Federation The profit for the inaugural financial year was $36,021. • General Manager Venue & Event Ops – • Director – Bankstown District Sport Club Cricket Tasmania

12 5. Subsequent events No other matter or circumstance has occurred subsequent to year end that has significantly affected, The outbreak of COVID-19 and the subsequent or may significantly affect, the operations of the entity, quarantine measures imposed by the Australian and the results of those operations or the state of affairs of other governments as well as the travel and trade the entity in subsequent financial years. restrictions imposed by Australia and other countries in early 2020 have caused disruption to businesses 6. Future developments and economic activity. Hockey 1 League Limited As a result of the COVID-19 global health crisis and considers this to be a non-adjusting post balance related impacts, it was resolved at the March 2020 sheet event and accordingly the financial effects of Board meeting to postpone Season 2 of the Sultana COVID-19 have not been reflected in the financial Bran Hockey One League until 2021. report as of 31 December 2019.

As the situation remains fluid (due to the evolving 7. Environmental regulations changes in government policy and evolving business The Company’s operations are not regulated by any and customer reactions thereto) as at the date these significant environmental regulation under a law of the financial statements are authorised for issue, the Commonwealth or of a State or Territory. directors of Hockey 1 Pty Ltd considered that the financial effects of COVID-19 on the financial report 8. Directors’ meetings 2019 Report — Annual cannot be reasonably estimated for future financial The following table sets out the number of directors periods. However, the directors consider that the meetings held during the financial year and the general economic impacts arising from COVID-19 number of meetings attended by each director. During are expected to have a negative impact on revenue the financial year, six board meetings were held. given the reliance on member licence fees and the cancellation of the 2020 Hockey 1 League season. The Eligible economic effects arising from the COVID-19 outbreak Directors Attended are expected to materially affect the results of the to attend Sultana Bran Hockey One League ­ One League Hockey Sultana Bran entity for the full year of 2020. Colin Richardson 6 6 The financial report has been prepared on the basis that Hockey 1 League Pty Ltd is a going concern, Carolyn Campbell 6 5 despite the significant impact of COVID-19 on operations. The going concern basis is considered Alexandra El-Shamy 6 6 appropriate due to the cash reserves held and the entity’s ability to reduce costs to meet its debts as and Martin Kelly 6 5 when they become due and payable and to continue to fund its ongoing operations. Stephen McMullen 6 5

13 9. Indemnification and insurance of officers 11. Dividends During the financial year, the Company paid a premium No dividends have been paid during or since the end of in respect of a contract insuring the directors of the the financial year. The Company’s constitution prohibits Company (as named above), against a liability incurred distributing dividends to members. as such a director, secretary or executive officer to the This Directors’ Report is signed in accordance with a extent permitted by the Corporations Act 2001. The resolution of directors made pursuant to s.298(2) of the contract of insurance prohibits disclosure of the nature Corporations Act 2001. of the liability and the amount of the premium. On behalf of the Directors The Company has not otherwise, during or since the financial year, except to the extent permitted by law, indemnified or agreed to indemnify an officer of the Company or of any related body corporate against a liability incurred as such an officer. Colin Richardson

10. Proceedings on behalf of the Company Chair 2019 Report — Annual No person has applied for leave of Court to bring proceedings on behalf of the Company or 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 any part of those proceedings. The Company was not party to any such proceedings during the year. Sultana Bran Hockey One League ­ One League Hockey Sultana Bran

14 DIRECTORS’ DECLARATION

As detailed in note 1 to the financial statements, the company is not a reporting entity because in the opinion of the directors there are unlikely to exist users of the financial report who are unable to command the preparation of reports tailored so as to satisfy specifically all of their information needs. Accordingly, this financial report has been prepared to satisfy the directors’ reporting requirements under theCorporations Act 2001.

The directors declare that:

(a) in the directors’ opinion, there are reasonable grounds to 2019 Report — Annual believe that the company will be able to pay its debts as and when they become due and payable; and

(b) in the directors’ opinion, the attached financial statements are in accordance with the Corporations Act 2001, including compliance with accounting standards and giving a true and fair view of the financial position and performance of the company.

Signed in accordance with a resolution of the directors made pursuant to ­ One League Hockey Sultana Bran S.295(5) of the Corporations Act 2001.

On behalf of the Directors

Colin Richardson Chair

Melbourne, 20/5/2020

15 Statement of Comprehensive Income Statement of Financial Position For the year ended 31 December 2019 As at 31 December 2018

31 DEC 2019 31 DEC 2019 NOTES NOTES $ $ Income Current Assets

Member license fees and payments 1,328,500 Cash and cash equivalent 5 135,048

Sponsorship and broadcast 3 1 1 ,1 4 1 Trade and other receivables 3 151,096

Ticket revenue 266,026 Total current assets 286,144

Other revenue 1 ,1 1 8 Non-current assets -

Total revenue 1,906,785 Total non-current assets -

Expenses Total assets 286,144

Operating and administration expenses (409,074) Current Liabilities 2019 Report — Annual

Marketing, broadcast production and promotions (411,066) Trade and other payables 4 120,123

Competition and team expenses (1,050,624) Income in advance 130,000

Total expenses (1,870,764) Total current liabilities 250,123

Net profit attributable to members of Non-current liabilities - 36,021 Hockey 1 Pty Ltd Total non-current liabilities - Other comprehensive income - ­ One League Hockey Sultana Bran Total liabilities 250,123 Total comprehensive income for the year 36,021 Net assets 36,021

Equity

Retained earnings 36,021

Total equity 36,021

The above Statement of Comprehensive Income should be read in conjunction The above Statement of Financial Position should be read in conjunction with the accompanying notes. with the accompanying notes.

16 Statement of Changes in Equity Statement of Cash Flows For the year ended 31 December 2019 For the year ended 31 December 2019

RETANING 31 DEC 2019 TOTAL NOTES EARNINGS $ $ $ Cash flows from operating activities Opening balance at 12 March 2019 - - Receipts from members and other operations 1,930,790 Total comprehensive profit for the year 36,021 36,021 Payments to suppliers and employees (1,796,167) Other comprehensive income for the year - - Interest received 425 Total comprehensive profit for the year 36,021 36,021 Net cash provided by operating activities 135,048 Balance at 31 December 2019 36,021 36,021 Cash flows from investing activities

Payments for purchase of property, plant and The above Statement of changes in equity should be read in conjunction -

equipment 2019 Report — Annual with the accompanying notes. Payments made to leases (interest repayments) -

Net cash used in investing activities -

Cash flows from investing activities

Payments made to leases (principal repayments) -

Net cash used in financing activities - Sultana Bran Hockey One League ­ One League Hockey Sultana Bran Net increase in cash and cash equivalents 135,048

Cash and cash equivalents at the beginning - of the year

Cash and cash equivalents at the end of the year 5 135,048

17 NOTES TO THE FINANCIAL STATEMENTS

1. General information Presentation currency Critical accounting judgments and key sources of estimation uncertainty Information about the entity These financial statements are presented in Australian dollars ($). In the application of the Company’s accounting Hockey 1 Pty Ltd is a company incorporated in Victoria policies, which are described below, the directors on 12 March 2019 and operating in Australia. The 2. Significant accounting policies are required to make judgments, estimates and Company’s registered office and principal places of Statement of compliance assumptions about carrying amounts of assets and business are as follows: liabilities that are not readily apparent from other The financial statements have been prepared Registered office sources. The estimates and associated assumptions in accordance with the Corporations Act 2001, 66 Jolimont Street are based on historical experience and other factors the recognition and measurement requirements 2019 Report — Annual East Melbourne VIC 3002 that are considered to be relevant. Actual results may specified by all Australian Accounting Standards differ from these estimates. Principal places of business and Interpretations, and the disclosure requirements 66 Jolimont Street of Accounting Standards AASB 101 Presentation of The estimates and underlying assumptions are East Melbourne VIC 3002 Financial Statements, AASB 107 Statement of Cash reviewed on an ongoing basis. Revisions to accounting Flows, AASB 108 Accounting Policies, Changes in estimates are recognised in the period in which the For the purposes of preparing the financial statements, Accounting Estimates and Errors, and AASB 1054 estimate is revised if the revision affects only that the company is a not-for-profit entity. Australian Additional Disclosures. period, or in the period of the revision and future Financial reporting framework periods if the revision affects both current and

Basis of preparation ­ One League Hockey Sultana Bran future periods. Hockey 1 Pty Ltd is not a reporting entity because The financial statements have been prepared on the in the opinion of the directors there are unlikely to Provision for doubtful debts basis of historical cost, except for certain non-current exist users of the financial report who are unable assets and financial instruments that are measured Management’s judgement is applied in determining to command the preparation of reports tailored at revalued amounts or fair values, as explained in the the provision for doubtful debts. If the estimated as to satisfy specifically all of their information accounting policies below. Historical cost is generally recoverable amount of the debtor is less than the needs. Accordingly, these financial statements have based on the fair values of the consideration given amount of revenue recognised, the difference is been prepared to satisfy the directors reporting in exchange for assets. All amounts are presented in recognised in the provision for doubtful debts. requirements under the Corporations Act 2001. Australian dollars, unless otherwise noted.

18 The following significant accounting policies have (c) Income tax the debtors, general economic conditions and an been adopted in the preparation and presentation of assessment of both the current as well as the forecast Hockey 1 League Pty Limited is a registered not-for- the financial report: direction of conditions at the reporting date, including profit sporting organisation and is exempt under the time value of money where appropriate. (a) Cash and cash equivalents provisions of the Income Tax Assessment Act 1997 (as amended). Accordingly, no income tax has been Cash comprises cash on hand and demand deposits. 3. Trade and other receivables provided for in these financial statements. Cash equivalents are short-term, highly liquid Trade receivables 101,941 investments that are readily convertible to known (d) Income in advance amounts of cash, which are subject to an insignificant Membership revenue which is received before balance Allowance for expected credit loss - risk of changes in value and have a maturity of three date and relates to the subsequent financial year is months or less. brought to account as a liability. 101,941 (b) Income (e) Goods and Services Tax (GST) Other receivables 49,155 In cases where there is an ‘enforceable’ contract with Revenues, expenses are recognised net of GST except a customer with ‘sufficiently specific’ performance Total trade and other receivables 151,096 where GST incurred on a purchase of goods and obligations, the transaction is accounted for under

services is not recoverable from that taxation authority, The average trade credit period is 30 days. 2019 Report — Annual AASB 15 where income is recognised when (or as) in which case the GST is recognised as part of the the performance obligations are satisfied. In all other cost of acquisition of the asset or as part of the 4. Trade and other payables cases the transaction is accounted for under AASB expense item. 1058 where the income is recognised upon receipt. Trade payables 101,127 Receivables and payables are stated with the amount Commercial activities income is recognised when of GST included. The net amount of GST recoverable Sundry creditors and accruals 18,996 amounts are due and payable in accordance with the from, or payable to, the taxation authority is included terms and conditions of the transactions. as part of receivables or payables in the statement of Total trade and other payables 120,123 • Revenue from state levies and sponsorships is financial position. Sultana Bran Hockey One League ­ One League Hockey Sultana Bran recognised over the applicable period of the levies The average credit period on trade purchases is 30 Cash flows are included in the statement of cash flows and sponsorship. days. No interest is charged by trade creditors. on a gross basis. The GST component of cash flows • Revenue from event fees is recognised when the arising from investing and financing activities which is event has completed. recoverable from, or payable to, the taxation authority is • Revenue from sale of goods is recognised at the classified as operating cash flows. point at which goods are provided to the customer. (f) Impairment of trade receivables Interest revenue is recognised as it accrues, taking into consideration the effective yield on the financial asset. Hockey 1 League Pty Ltd recognises lifetime expected credit losses (‘ECL’) for trade receivables. The expected credit losses are based on its historical credit loss experience, adjusted for factors that are specific to

19 5. Cash and cash equivalents (i) Categories of financial instruments As the situation remains fluid (due to the evolving changes in government policy and evolving business For the purposes of the statement of cash flows, cash Financial Assets and customer reactions thereto) as at the date these and cash equivalents includes cash on hand and in financial statements are authorised for issue, the banks and investments in money market instruments, Cash on hand and at bank 135,048 directors of Hockey 1 Pty Ltd considered that the net of outstanding bank overdrafts. Cash and cash financial effects of COVID-19 on the financial report equivalents at the end of the year as shown in the Trade and other receivables (net) 151,096 cannot be reasonably estimated for future financial statement of cash flows can be reconciled to the periods. However, the directors consider that the related items in the statement of financial position Total financial assets 286,144 general economic impacts arising from COVID-19 as follows: Financial Liabilities are expected to have a negative impact on revenue given the reliance on member licence fees and the Cash at bank – NAB Cheque 5,083 Trade and other payables 120,123 cancellation of the 2020 Hockey 1 League season. The Cash at bank – NAB Business economic effects arising from the COVID-19 outbreak 129,965 Maximiser Net exposure 166,021 are expected to materially affect the results of the entity for the full year of 2020. 135,048 7. Economic dependence

The financial report has been prepared on the basis 2019 Report — Annual Cash at bank earns interest at floating rates based on Hockey 1 League Pty Ltd is dependent on contracted that Hockey 1 League Pty Ltd is a going concern, daily deposit rates. member licence fees from Hockey Australia and its despite the significant impact of COVID-19 on member associations. operations. The going concern basis is considered 6. Financial instruments appropriate due to the cash reserves held and the 8. Contingent liabilities Details of the significant accounting policies and entity’s ability to reduce costs to meet its debts as and methods adopted (including the criteria for recognition, No contingent liabilities have been noted at 31 when they become due and payable and to continue to the bases of measurement, and the bases for December 2019. fund its ongoing operations. recognition of income and expenses) for each class of 9. Subsequent events No other matter or circumstance has occurred

financial asset, financial liability and equity instrument ­ One League Hockey Sultana Bran subsequent to year end that has significantly affected, are disclosed in note 2. The outbreak of COVID-19 and the subsequent or may significantly affect, the operations of the entity, quarantine measures imposed by the Australian and The Company’s principal financial instruments the results of those operations or the state of affairs of other governments as well as the travel and trade comprise receivables, payables, cash and short-term the entity in subsequent financial years. restrictions imposed by Australia and other countries deposits. These activities expose the Company to a in early 2020 have caused disruption to businesses variety of financial risks: market risk (including interest and economic activity. Hockey 1 League Limited rate risk and price risk), credit risk and liquidity risk. considers this to be a non-adjusting post balance The Company holds the following financial sheet event and accordingly the financial effects of instruments: COVID-19 have not been reflected in the financial report as of 31 December 2019.

20 COMMERCIAL PARTNERS NAMING RIGHTS PARTNER — Annual Report 2019 Report — Annual

MAJOR PARTNERS Sultana Bran Hockey One League ­ One League Hockey Sultana Bran

OFFICIAL PARTNERS

21 — Annual Report 2019 Report — Annual Sultana Bran Hockey One League ­ One League Hockey Sultana Bran

hockeyone.com.au H1League 22