Fy2020 Annual Report 2020

Annual Report.

FY2020 ANNUAL REPORT 2020

Board of Directors

Graeme Liddell Mark Rendell Mark Pitt President Vice President Treasurer

Peter Bell Graham Heiser Peter St. John Toby Williams Director Director Director Director

Executive Team

Dee Why RSL Life Members

Arday, JS* Couchman, WT* Jackson, Mrs T* Poole, R* Benefield, R* Elias, LL* James, AG* Robinson, L Bilston, LJ* Fletcher, JT* Jeffery, SN* Shiels, H* Bonser, DF* Gifford, WD* Knappstein, PB* Shore, Mrs L Bourke, LJ* Hall, CB LaForest, Mrs M* Spencer, JH* Broadway, B* Hall, R* Lambert, RA* Thew, EO* Brown, H* Hayman, EH* Lecky, EC* Vockler, JT* Brown, VG* Hodge, WH* Morgan, K* West, JD* Bryant, SP Jackson, EW* Moyle, AG* Grant Easterby Sarah Sutherland Bruce McLean Lauren Kekwick Chief Executive Officer Chief Financial Officer Executive Manager Executive Manager Operations & Compliance Marketing & Communications

Past Presidents

Usher, CAM 1945 Lecky, EC 1969 — 1976 Hamilton, A 1946 Poole, R 1976 — 1977 Thew, EO 1947 — 1955 Shiels, H 1977 — 1981 Skene, H 1955 — 1958 Jackson, EW 1981 — 2004 Miles, AE 1958 — 1961 Jeffery, SN 2004 — 2007 James, AG 1961 — 1963 Olive, CC 2007 — 2011 Edmund Wong Sheila Zakhar-Malone Scott Drinkwater Nikki Noakes Jackson, EW 1963 — 1966 Dalgarno, A 2011 — 2013 Executive Manager Executive Manager Executive Chef Executive Manager Knappstein, PB 1966 — 1969 Gaming Community Veterans Centre Sydney Northern Beaches

02 * deceased 03 ANNUAL REPORT 2020

Friendship. Fellowship. Fun.

A new camaraderie. From our foundation to our future, we are bound by one core value.

Respect.

We respect our members. From the storied history within We respect our community. the Veteran Centre to the fresh We respect each other. architecture of our restaurants, bars, entertainment and gaming areas, And every night we pay our we are mindful of our reason respects to the fallen. for being – to help.

Now as the sun sets on our founding That’s why we undertook this evolution generation, a new age is dawning – to do better and be better, for for Dee Why RSL. ourselves, for our members and for the wider community. We have a vision. The one thing that won’t Because behind the good times, change is respect. we have a serious purpose. In the spirit of service. And it’s our honour.

04 05 ANNUAL REPORT 2020

Our

Evolution. September June Demolition of DYRSL lower reception re-opened

Start of Battery House September July porte-cochère welcomes April April Flame and ceiling works it’s first-ever August Entry and exit February changed due Four excavators Cabanas Porte-cochère patrons Reception, to works on the Demolition and three drilling closed and Battery House November February Stage 1 is Carpark, porte-cochère around south rigs on site work on kitchen installed New roof over Top level completed Carpark porte-cochère eastern Match Battery House lower reception of carpark scaffolding and Bistro all Bar started started formed poured removed completed!

2017 2018 2019 2020

July Members were asked, “What do you want to see?” August January May October January May July Carpark opened The Bulk excavation 2000+ Carpark Carpark Glass panels redevelopment of the southern tonnes of soil started going reached street installed along November March August December March Greenery planted started with the carpark removed in up level carpark façade in porte-cochère southern carpark 60 tonnes of commenced Porte-cochère one day 30m crane Carpark Battery and driveway being demolished steel erected widened installed reached four House 90% cobble in less than a levels from the completed week and 90 First concrete poured basement up Lower reception cubic meters of for the new carpark Porte-cochère floor tiled concrete poured Battery House tile work in one day Lower reception entry retractable started and changed glass roof entry and exit installed changed

Works on lower DYRSL closed reception its doors due skylight started to COVID-19 More Restaurants and Bars to Come.

06 07 ANNUAL REPORT 2020

Community Support.

Minimum Contribution $728,315 Voluntary Contribution $1,056,667 Total Contribution $1,784,982 Pictured above left: Be Centre heals through play therapy. Top right: VCSNB Service Delivery Team Leader Sue Lewis, with ADF Rehabilitation Team at HMAS Kuttabul. Bottom middle: Fighting Chance provides accessible bathrooms. Bottom right: The Community Pantry serves meals to those in need.

In what can only be described as a year like no other, Dee Why RSL is Be Centre Foundation Veterans Centre Sydney Northern Beaches (VCSNB) By supporting local disadvantaged children impacted The VCSNB has set new benchmarks for its ability to extremely proud to have donated $1,784,982 in cash and in-kind funding by serious life challenges, Be Centre has had significant deliver compensation and wellbeing support to current to over 100 local community organisations in 2019-2020, despite the impact through their Play Therapy safe intervention and former ADF servicemen, women and their families program. Now faced with unprecedented challenges from who display levels of significant distress. DYRSL is proud to significant economic impact of COVID-19. COVID-19 and the bushfire crisis, they are experiencing confirm that through the continued generosity of members an immense increase in demand over concerns of anxiety, and the community, the Centre has received significant social isolation and fear in children. It may take up to 12 support totalling $376,678 in 2019/20, This funding went to organisations Things may look a little different at months to get through the current waitlist. Through your support, 12-week mental health support This support has enabled the successful develoment of an that are facing increased challenges the moment, but one thing that hasn’t programs were given to local children impacted by intervention triage care model. This model aims to prepare due to the crisis, importantly those changed is our spirit of service, and trauma, enabling them to heal and move forward with veterans with their own transition to civilian life, directing their lives. much needed civilian support for veteran medical, physical that support vulnerable children and to this end we are working tirelessly and vocational conditions. women, mental health, homelessness, to bounce back stronger and more Through your support the VCSNB has continued to provide a wide range of assistance to 140 families. disabilities and veterans. DYRSL sustainable for future community The Community Pantry remains committed to our community, support for the Northern Beaches. The Community Pantry is a dedicated group of volunteers providing free weekly hot meals to help those less but the reality is times are tough. fortunate. DYRSL’s continued support has enabled them to Fighting Chance Australia Ltd continue their relied-upon assistance during the pandemic, Fighting Chance Australia creates work opportunities for adjusting their previous sit-down meals to COVID-19 safe people with disabilities. As a result of funding from DYRSL, takeaway dinners, while also providing an extra 40 weekly a 200kg ‘Luna’ ceiling hoist was purchased and installed meals home delivered to vulnerable people. contributing to the fit-out of brand new accessible Through your support 80 local people in need received bathrooms in the new co-working space in Frenchs free weekly hot meals. Forest. Accessible bathrooms are critical in the success of participation in work and social opportunities. Through your support, up to 75 people with disabilities per day now have access to fully accessible bathrooms.

08 09

ANNUAL REPORT 2020 President’s CEO’s Report. Report.

Graeme Liddell Grant Easterby

On behalf of the Board of Directors, sporting, charitable, cultural and colleagues for their contributions and Well, it’s been an interesting year to say Due to the uncertainly of the COVID-19 initiative. Lighting candles in our I am proud to submit for your educational groups, as well as our commitment to your Club. Along with a the least! Despite all the challenges of environment, the responsible decision driveways as the sun came up was approval and adoption the Annual Intra Clubs, continues at a high level full calendar of meetings, conferences the past year, I am pleased to report was made to defer the completion moving and emotional, and still allowed Report and Financial Statements for through the Club Grants Program. and visitations, each Director is a another successful result in difficult of these outlets until there was more us to pay our respects to those who the year ending 30 June 2020. This program is built on the values Member of the Club Directors Institute circumstances. The Treasurer’s Report certainty around the economic and have fallen in the service of their on which Dee Why RSL was founded and all have attended educational details a solid financial performance social environment. This will mean a country and to all those who have Building our future, while and ensuring our involvement is seminars and workshops ensuring which, with continued diligence and delay in bringing these outlets on line since passed on. Lest We Forget. reflecting on the past truly mutual and sustainable. that they are fully prepared to set the persistence on a commercial focus, but members can expect to see this direction for your Club to move forward. will ensure the long term viability for happen in the latter half of 2021. The right team Although this year has seen us face you the members, our staff and the Unfortunately, COVID-19 has restricted a few challenges, due to a global community of the Northern Beaches. We always give our thanks to many events and visitations to which A culture of mutual respect between pandemic, your Board continues to focus It really is always people in the Annual Report, but I would be usually attend, and I hope Board and Management is paramount on responsible financial management about people this year a special thanks is due. to secure your Club’s long term future. our community friends, groups, their for success. To this end I would So what’s new? staff and volunteers know how much like to express the Board’s thanks I’ve always said that clubs are not In last year’s Annual Report we notified I greatly miss the interaction and to CEO, Grant Easterby and CFO, about bricks and mortar, they are not To our staff – in times of uncertainty members of the exciting development This has allowed for the completion of regular catch ups we are used to Sarah Sutherland together with the about bistros or bars or auditoriums for their own jobs and futures, of a new industry leading sports bar our carpark, porte-cochère, reception, having. It is certainly a different and Executive Management team for – they are about people. This was they did whatever was asked and called Battery House - based on the Battery House, and Bistro. I am sure you difficult world in which we now live. the professional way in which they never more evident to me than when worked tirelessly to get your Club very beginnings of your Club over 70 agree that the outcome is phenomenal conduct themselves and represent COVID-19 struck and your Club was re-opened as quickly as possible. years ago. Its been open since 6 June and has brought some sunshine to what your Club whilst maintaining ordered to close its doors on 23 March Camaraderie and compassion 2020 and has been an incredible has been some pretty gloomy months. members’ interests as a priority. 2020. In shutting down plant and success on all fronts. The contemporary To our suppliers – please know Despite the need to grow and future equipment, securing the premises design, based on extensive research, that you are key partners in our proof, it is essential that we continue and not knowing what the future held The carpark is worth the drive to acknowledge, to honour and to It would be remiss of me not to has resulted in a bar which perfectly business and I genuinely thank you there was an eerie feeling around. down well below sea level just to remember our veterans and those acknowledge the contribution of all fills the gap of a hospitality venue such all for working through contracts, experience a technological and who paid the supreme sacrifice. staff. Those back and front of house, as this on the Northern Beaches. Whilst service agreements and just getting geological masterpiece. And yes, cellar, and facilities have had a very challenging with COVID-19 restrictions, As I walked around and saw the familiar through this unprecedented time there are two elevators that bring difficult time over the last 12 months or Battery House has hit capacity levels rooms, and even Battery House all - often just on a handshake. These you directly up into reception. Our very own Veterans Centre Sydney so. If the unavoidable issues related to every week, easily surpassed what we ready to open, somehow your Club are the relationships we value. Northern Beaches, located on Level 4, a huge redevelopment were not bad believed to be aggressive revenue had lost its soul, its spirit, its reason for operated at full capacity throughout enough, the arrival of COVID-19 has The new reception area is stunning and targets and resulted in a surge of being. It honestly felt terrible. What To our Board – your strength and our recent closure. We ensured that taken us to a new level of challenges! new membership for your Club. was this wonderful place for if there now includes a huge LED screen for your the centre remained fully operational decisive leadership never wavered. In entertainment. We call it our “Wow Wall” wasn’t anyone in it? It was difficult to a voluntary capacity with the pressure during this time to allow veterans reconcile. Staff kept their chins up because - well, once you see it you will The closure of your Club was a At the time of writing this report, we on you stood up and were counted as and their families on the Northern whilst they unpacked fridges, stored know why. Stay tuned for what we have Beaches, as well as a number of military very dark period of time for all. have just opened up the new main one. The members are fortunate to product and decommissioned bars and planned to be on screen in the future. bases around Sydney, continued Upon reopening, numbers, spacing, entrance, the driveway and porte have you as the custodians of DYRSL. kitchens. Members came to the doors access to vital advocacy services. restrictions and events all had to be cochère, the main foyer, and of course addressed and ready for change at only to be turned away. And we all Battery House is up and running. the brand new southern carpark which To our executive managers – simply a moment’s notice. I remain in awe wondered what the future would hold. What a fabulous venue for a drink, a this time last year was the largest hole outstanding, your commitment, loyalty We have also welcomed the highly at the way all staff embraced the feed, a punt and to watch every sport in the ground in Dee Why! So hopefully and expertise steer this ship in the credentialled Nikki Noakes as the jobs that had to be done with such televised on the largest screen on the members will have no more parking I’m pleased to say your Club right direction every time, thank you. Centre Manager this year following professionalism and positiveness. capacity concerns when coming to re-opened on 6 June 2020 and Northern Beaches. If you haven’t tried Ben Webb’s departure interstate. the wings as yet, you are missing out! Members, I’m sure you will support and enjoy the facilities of your Club. welcomed everyone back with open thank the best staff in the industry. arms – well not literally – you’re not To our members - whilst your needs This is about people allowed to do that at the moment! will always drive what we strive to Finally, we welcome back our expanded And what’s to come? deliver, without your support your Your Board recognises the importance In conclusion members, I would like to Bistro. The food is again on view as well Club simply couldn’t move forward. of a close relationship with local, sincerely thank you. Your continued as being cooked to order, with roasts, There’s still a lot more to come! We Paying our respects COVID-19 has been a challenge, state and federal authorities and we patience during our redevelopment lamb cutlets, lemon sole, and other anticipated bringing on the new no-one is in any doubt of that but at thank Mayor Michael Regan, The Hon. and ‘new norm’ COVID-19 regulations Whilst it was disappointing that we favourites awaiting your pleasure. food and beverage precinct towards DYRSL we will navigate a way through Brad Hazzard, MP and Jason Falinski, is appreciated. I’m sure you agree were unable to gather as a community the end of 2020. This would include this because we will do it together. MP for their ongoing support. that it’s a small price to pay in order as we usually do at Dee Why Beach for exciting new bar and food options, live Proudly supporting for your Club to continue its service the Dawn Service, 2020 saw us pay entertainment as well as the return of our community to you all. Please stay safe and I hope our respects on ANZAC Day through Stay safe, stay well, and I look forward our ever popular Flame restaurant. Your Club’s commitment to community I sincerely thank all of my Board to see you around your Club soon. the “Light up the Dawn” government to seeing you around your Club soon.

10 11 ANNUAL REPORT 2020 Treasurer’s Directors’ Report. Report.

Mark Pitt

It is with pleasure that I submit in the value of investment properties plan and will provide further new for your approval and adoption, by $0.7m resulting in an overall profit food and beverage outlets at that the Financial Statements for the before community support and point in time. The strong contractual Year ending 30 June 2020. tax of $4.1m. Just under half of this arrangements protected your Club and profit came from diversified income I thank our Chief Financial Officer for streams which have been strategically her diligence and expertise with these A year of two halves developed over the years to reduce arrangements. The pre agreed debt The first half of the financial year your Club’s reliance on gaming revenue. facility was partially drawn to complete 2019/20 saw strong performance and Your Board remains committed to the works while retaining significant membership growth. Results were providing financially sustainable cash funds at bank to protect your Club extremely solid and the construction community assets for the benefit of and ultimately facilitate the completion of new Club facilities were proceeding both your Club and the local area. of the new outlets. To that end, your well. The global pandemic, COVID-19, Club had $23m of cash at bank at the significantly impacted Club operations end of the financial year. $8.8m of in the second half of the financial Helping the local community the $18m debt facility was drawn. year. This included a government Your Club was proud to provide $1.8m mandated closure for the entire of cash and in kind support to the Members will again note a negative club industry on 23 March. Your community despite the challenging working capital position in the Club reopened on Saturday 6 June environment. This equated to 44% Statement of Financial Position. This trading under COVID-19 restrictions. of profit and reflects your Board’s is due to the 99 year leases with 6 commitment to the local community, month guaranteed buy back in the mental health and veterans. The detrimental impact can be Oceangrove Seniors’ Living Village. This donation far exceeded the seen in the results but I am pleased While the village is held as a Non compulsory contribution of $728k. to say that the launch of the new Current Asset within “Investment Battery House sports bar has seen Properties”, the Resident Loans appear record sales and record growth After a tax provision of $0.2m, Net as a Current Liability. This is standard since opening on Saturday 6 June. Profit for the year of $2.1m is reported. accounting treatment within the The Club’s objectives are focused on the provision of premium recreational and leisure facilities and services to the industry for villages with such a buy local community. This is achieved through the provision of excellent customer service and facilities which are targeted Revenue and diversified back guarantee and is reflective of the Solid financial position Australian Accounting Standards. In the at the local demographic while maintaining the objective of the Club and the RSL movement through prudent resource income streams Despite the challenging year and normal course of events a loan would management and social responsibility. The Club operates a structured community support program which focuses on Revenue for the full year declined 27% ongoing COVID-19 environment, your be repaid to the departing resident the needs of the local community, mental health and veterans. Donations through the program intentionally exceed with core revenue (food, beverage Club’s Statement of Financial Position out of the new loan provided by a new all legislated requirements. The Club continues its long term strategy of solid financial investment in the building and gaming) being impacted by the remains strong with Net Assets of $145m. resident moving into the apartment. infrastructure, operations and investments to drive the Club forward for the long term while continuing to diversify income closure and COVID-19 restrictions. Members can feel confident that these streams to reduce its reliance on gambling. assets will continue to be managed I thank our Chief Financial Officer, responsibly for the long term benefit of Revenue from diversified income Sarah Sutherland and her outstanding both current and future generations. REVIEW AND RESULTS OF OPERATIONS streams saw 2% growth with solid team for their constant focus on your income from the car wash offsetting Club’s performance, development and Key trading highlights COVID-19 rental relief that was Responsible delivery of revenue diversification strategies. provided to tenants including the This team continues to protect new member facilities • The global epidemic - COVID-19 significantly impacted Club operations in the second half of the financial year. This childcare centre. Oceangrove your Club and lead the industry. Seniors’ Living Village continues As at the date of this report, the new included a government mandated closure for the entire club industry on 23 March 2020. The Club reopened on 6 June to be popular with a current carpark has reached completion and 2020 trading under COVID-19 restrictions. there is now ample parking with direct Thank you waiting list of over 190 parties. • Membership declined 12% to 48,048 members. access straight into your Club. The new Finally and most importantly I thank porte cochère, foyer and increased you, the members, for your patience • Revenue from core activities (food, beverage and gaming) reduced 27% reflecting the period of closure due to COVID-19 Interest income from cash held at the Bistro are providing members and during construction and COVID-19 and the impact of reduced parking during construction. bank reduced by 54% to $0.6m as guests with an enhanced experience. restrictions and thank you for your funds were invested in the completion This project was tightly managed continued support and patronage. It • Diversified income streams grew 2% to $4.7m. of new member facilities. Overheads and, despite the challenges raised by is certainly not taken for granted. Stay • Income from the Car Wash increased 31% to $1m and generated $0.4m profit before tax. were tightly managed with significant COVID-19, it was completed significantly safe, and well, and I look forward to reductions compared to last year. under budget. The fitout of the area to seeing you around your Club soon. • Lease income totalled $1.3m with COVID-19 rent relief assistance provided to qualifying tenants. Profit of $1m was the east of Bistro will be completed in generated. line with your Club’s current strategic The current environment saw a decline • Oceangrove Seniors’ Living Village generated $2m of revenue and $1.2m profit before tax. • Interest income reduced from $1.4m to $0.6m with funds invested in increased parking and improved Club facilities. • Investments held (including the above properties) reduced in value by $0.7m. 12 13 ANNUAL REPORT 2020

Directors’ Report. (continued). Directors’ Report. (continued).

AUDITOR’S INDEPENDENCE The Directors have received a declaration from the auditor of Dee Why RSL Club Limited. This has been included below.

Signed in accordance with a resolution of the Directors.

porte-cochère.

14 15 ANNUAL REPORT 2020

Directors’ Declaration. Statement of Profit or Loss and Other Comprehensive Income. For the year ended 30 June 2020

16 17 ANNUAL REPORT 2020

Statement of Financial Position. Statement of Cash Flows. As of 30 June 2020 For the year ending 30 June 2020

18 19 ANNUAL REPORT 2020

Statement of Changes in Equity. Notes to the Financial Statements. For the year ending 30 June 2020 For the year ending 30 June 2020

At 30 June 2020

20 21 ANNUAL REPORT 2020