West Harbour Rugby Union Football Club Limited

ABN: 11 099 077 497

Financial Report For the Year Ended 30 September 2019

ABN: 11 099 077 497

CONTENTS Page

Directors’ Report 1

Auditor’s Independence Declaration 8

Statement of Profit or Loss and Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Financial Statements 13

Directors’ Declaration 29

Independent Auditor’s Report 30

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

The directors present their report on West Harbour Rugby Football Club Limited for the year ended 30th September 2019.

Principal Activities The principal activity of West Harbour Rugby Football Club Limited during the year was the development and operation of the sport of rugby union in the inner western suburbs of Sydney.

Short and long-term objectives The company’s short and long-term objectives are to use members’ funds to support the rugby club and the development and operation of the sport of rugby in the inner western suburbs of Sydney.

Strategies for achieving the objectives

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

i) The active pursuit of sponsorship and fundraising opportunities;

ii) Involvement in our local community and schools; and

iii) The active pursuit of grant funding from public authorities

How principal activities assisted in achieving the objectives

The principal activities assisted the company in achieving its objectives by providing incentives to potential sponsors and members to support the company.

The company measures its performance through the use of both quantitative and qualitative benchmarks. The benchmarks are used by the directors to assess the financial sustainability of the company and whether the company’s objectives are being achieved.

Achievements in 2019

As 2019 ends, we look back on a year that was often fraught with many great challenges yet as a Club, we can take solace from and celebrate in the many great initiatives we have implemented and achievements we have achieved. We are excited to say that we have steadied the Pirate ship and have charted a new course towards success.

With hard work, perseverance and the assistance of some of the Club’s great stalwarts, the Club has managed to; • Field competitive teams week in week out. • Win ○ Shute Shield Spring 7s Competition - Overall Champions ○ Western Sydney 7s - Bowl Champions x 3 ○ Queanbeyan 7s - Champions ○ Southern Highlands 7s - Champions ○ Noumea Women’s 7s - Champions

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

Achievements in 2019 (continued)

• Host the: ○ 2019 Canada Bay 7s, ○ 2019 NSW Junior State Championships, ○ 2019 Suburban Rugby Semi and Grand Finals and ○ 2019 Round 3 of the Shute Shield’s Spring 7s. • Secure the operational and coaching services of Mark Gudmunson and his team for 2020, and operations services of Amanda Babet. • Retention of over 80% of our playing group, as well as the recruitment of a number of excellent playing prospects for the 2020 season. • Building player pathways to super rugby and international rugby opportunities: o Tian Swanepoel contracted to the Sharks in Super Rugby. o Tyler Fisher contracted to Utah in Major League Rugby in the US. o 11 players of the club representing their nations of birth at the World Cup in Japan. o 3 other players representing internationally. • Stabilised the financial position of the Club by reducing budget expenditure by 30%. • Operated a stall at the Norton Street Festival giving away 400 West Harbour show bags and merchandise, increasing the Club’s brand exposure. • Participated by laying a wreath in West Harbour’s name at the ANZAC Day Dawn service in Burwood. • Hosted an Inner West Rugby forum with representatives from NSW Rugby, all Inner West Suburban Rugby Clubs and schools, establishing the Inner West Rugby Hub. • Led the development of the Inner West Rugby Hub Working Committee, which is in the process of developing and implementing a district wide School’s Competition commencing in 2020. • Actively recruited Colts for 2020. • Developed an eight-week, West Harbour Junior Rugby Academy Program with two trial matches against the representative squad of the Maitland Blacks Rugby Club. • Employed Harrison Orr as West Harbour’s Development Officer. He has commenced school’s-based development programs in various schools in the district. • Hosted a fantastic World Cup Rugby Luncheon with a range of guest speakers including Wallaby Coach Michael Cheika, international players Sekope Kepu, Stephen Hoiles, Tony Daly and Dan Parks. • Hosted a number of successful club/player social events. • Secured the services of Club Ambassadors Emma Tonegato, Scott Sio, Allan Ala’alatoa, Michael Ala’alatoa, and Jack Debreczeni. • Developed much needed updates to the Club’s Policies and Procedures. • Began development of the most comprehensive player welfare program in the Shute Shield. • Commenced drafting a proposal for the development of a scholarship program through a memorandum of understanding with a major university. • Updated many of our systems and processes including a new membership database, Point of Sale system and the Club’s technological infrastructure. • Negotiated with other domestic and international rugby clubs and federations to secure memorandums of understandings between us and them to build our network capacity. • Secured the Vice Presidency of the Sydney Rugby Union Board. • Negotiated and signed a new licence agreement and Deed of Forbearance with Canada Bay Council until 2029. • Issued a player/member survey to gain feedback on areas where we can focus further improvement.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

Achievements in 2019 (continued)

We still have a great many challenges to face and tasks to complete to get this club back where it is meant to be. The survey will provide us with some honest feedback on where we fall short in some operational areas, but we already understand and have started work on some areas of shortfall in 2019. These areas include: • Presentation, functionality and timeliness of our website • Adequacy and timeliness of our social media pages • Game day experiences for our sponsors, members and supporters • Timeliness and regularity of communications with our membership base • Growth of our paying membership base.

Members’ guarantee

West Harbour Rugby Football Club Limited is a company limited by guarantee. In the event of, and for the purpose of winding up the company, the amount capable of being called up from each member and any person or association who ceased to be a member in the year prior to winding up, is limited to $20.

At 30 September 2019 the number of members was 462.

Matters or circumstances arising after the end of the year

Mr. Thomas Games and Mr. Simon Greally were appointed as company directors on 31 December 2019.

No other matters or circumstances have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the company, the results of those operations or the state of affairs of the company in future financial years.

Going Concern

As disclosed in the financial statements as at 30 September 2019, the company has recorded a loss of $125,815 (2018: Loss of $35,880). The company has a surplus of net liabilities of $105,366 (Surplus Net Assets 2018: $20,452).

The directors believe that the company is a going concern based on several factors including:

• The appointment of a highly experienced individuals to positions as directors of the Club's board to provide stable and capable long term strategic governance; • The continued support of its members and sponsors, including a negotiated new sponsorship agreement with our major partner, Club Burwood until 2022; • The active engagement of a new cohort of members through a revised membership package plan to attract and maximise member and supporter numbers from a broader demographic reflecting the Club's move to Drummoyne Oval for the next two years including Hunters Hill, Drummoyne, Russell Lea, Balmain, Roselle and Five Dock; • A focus on tapping into the changing and varied ethnic demographics of the Inner West Area through the development of Memorandums of Understanding with the Korean and Lebanese Rugby Unions; • Active recruitment of quality players and excellent player numbers for preseason training; • Negotiated a new licence agreement and Deed of Forbearance with Canada Bay Council until 2029; • Secured Drummoyne Oval as our home ground for the next two years; • Creation of an Active Sponsorship Committee that is in the process of securing new sponsorship to further increase our sponsorship income in 2020; • Expansion of the Club's supporter base and exposure through hosting Round One of 2020 season in Bathurst;

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

Going Concern (continued)

• Implementation and development of a fully funded junior development programs. • The development and leadership of the Inner West Rugby Hub and a new school's competition, the Wangal Cup; • Returning to the newly developed Concord Oval, which will be the best rugby facility in the Shute Shield; & • The continued growth and popularity of club rugby in Sydney and the Shute Shield competition.

The financial statements have been prepared on a going concern basis, which assumes continuity of normal business activities and the realisation of assets and the settlement of liabilities in the normal course of business.

The directors are of the opinion the above requirements will be satisfied and accordingly have prepared the financial statements on a going concern basis. The financial statements do not include any adjustments relating to the recoverability or classification of recorded asset amounts or classification of liabilities that might be necessary should the company not be able to continue as a going concern.

General Information Information on Directors

The names of each person who has been a director during the financial year are:

Tom Andrews Qualifications and experience: MBA with 12 years’ senior management and executive experience across multiple industries. Currently holds the role of Group General Manager for Monarch Hotels. WHRFC player 2004-present-over 200 games for the club across grade and Colts. A.I. Vincent Trophy winner 2012.

Special Responsibilities: President

Philip McCrea Qualifications and experience: BE, PhD Electrical Engineering. Financial management: 19 years as a CEO of two IT companies. Former IT consultant. Currently Chief Technology Officer of an Australian Government Agency, 12 years on Board of West Juniors Rugby Club. Rugby Referee Board Member, Ella Community Centre, Haberfield Board Member, ParaQuad NSW

Special Responsibilities: Governance Stakeholder Management

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

Information on Directors (Continued) Daniel Paton

Qualifications and experience: Currently the Chief Financial Officer at Wests Ashfield Leagues Club. Previously holding positions as the Financial Controller for the Star Casino and the Head of Finance at Ticketek. Prior to that held senior positions for ASX Top 50 listed companies including AGL and APN News and Media (now HT&E) and US multinational companies including International Gaming Technology (IGT) and Enron. Appointed to fellow status of the CPA of Australia in 2016 and more recently graduated from the Institute of Company Directors.

Special Responsibilities: Director

John Abi-Saab

Qualifications and experience: Bachelor Arts/Education, Bachelor Laws, Masters Education Leadership with 15 years Education, Law and Sports Management experience. Director of Administration and International Relations for the Lebanese Rugby Union Federation and representative on the EXCO of Asia Rugby.

Currently secretary of Inner West Rugby Hub, and President of Phoenix Rugby Club, an Australian Lebanese Heritage Team. Vice President Sydney RU

Special Responsibilities: Vice President

Stephen Jurd

Qualifications and experience: Semi Retired Small Business Person. Board member of Australian Battery Association Ltd for 30 years. Finance Committee member of Breakfast Point, the largest private community in Australia.

Special Responsibilities: Director

Vincent Gee Qualifications and experience: Bachelor of Business (Nepean CAE); Graduate Certificate in Public Sector Management; (Griffith Uni) Diploma Project Management. Justice of the Peace

Qualified Assistant Referee.

Retired after 40 Years as a NSW Public Servant to Senior Executive Service level across Mining, Law Enforcement, Taxation, Education and Transport, primarily in the delivery of IT systems.

Played Rugby in the 1970s for St George, Walgett, Western Plains and NSW Country. Coached Walgett Rams and St George Colts to grand finals. Returned to Rugby in 2002 as Coach of Pirates 5th / 6th Grade, eventually moving to team manager role. Proud to have received Clubman of the Year in 2004 and in 2016.

Special Responsibilities: Director 5

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

Information on Directors (Continued) Christopher Charlton

Qualifications and experience: Managing Director of Charltons Chartered Accountants, a city based professional services firm, specialising in small businesses, taxation consulting and compliance, audit and integrated cloud accounting. Chris is a Chartered Accountant, Registered Tax Agent, Registered Auditor, Associate of the Corporate Governance Institute of Australia, Company Secretary, Chartered Tax Advisor, and JP.

Prior experience as a non-executive director and Chairman of an ASX listed company, and various board level roles within sporting organisations to date, including volunteer to umpire, coach, referee to president.

Active golfer, skier and spectator to many sports and understands the benefits of participation and applying complimentary skills, that administratively support access to Rugby and its wider community role.

Special Responsibilities: Treasurer

Meeting of Directors

During the financial year, 13 meetings of directors (including committees of directors) were held, attendances by each director during the year were as follows: Directors’ Meetings Number eligible to attend Number attended

Tom Andrews 13 11 Philip McCrea 13 13 Chris Charlton 11 9 Vincent Gee 11 9 Stephen Jurd 11 9 John Abi-Saab 11 11 Daniel Paton 11 9 Loren Orr (Resigned 18 February 2019) 2 1 Siobhan Seiuli (Resigned 18 February 2019) 2 1

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ REPORT FOR YEAR ENDED 30 SEPTEMBER 2019

Auditor’s Independence declaration The auditor’s independence declaration in accordance with section 307C of the Corporations Act 2001 for the year ended 30 September 2019 has been received and can be found on page 8 of the financial report.

Signed in accordance with a resolution of the Board of Directors.

Director ______

Dated the day of 2020

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

AUDITOR’S INDEPENDENCE DECLARATION

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 SEPTEMBER 2019

Note 2019 2018 $ $ Revenue 2 562,343 1,061,778 EXPENSES Canteen 33,083 30,422 Merchandise 12,457 33,584 NSW Rugby Union Fee 7,678 2,741 Medical & Physiotherapy 50,474 78,264 Sponsorship Expenses 5,670 19,662 Functions & Events 40,052 32,358 Depreciation & Amortisation 6,965 32,125 Player Costs 156,088 163,588 Coaching Costs 51,648 106,547 Insurance Expense 14,527 18,211 Match Expenses 63,129 97,898 Bank Charges 3,330 9,277 Motor Expenses 42,584 5,048 Printing & Postage 1,446 4,821 IT Expenses 3,283 19,617 Strength and Conditioning Coaching 37,412 38,177 Consultancy Expenses 20,120 39,556 Clothing Expenses 35,676 82,882 Bar Purchases 13,283 25,498 St Luke’s Contribution – City of Canada Bay - 36,364 Corporate Marquee Hire 47 47,594 Gym Equipment Hire 22,370 20,410 Accountancy Fees 10,000 7,932 Auditor’s Remuneration 15,000 5,000 Subscriptions 4,053 4,653 Impairment of Gym Equipment and High-Performance Centre - 103,007 Other Expenses 37,783 32,422 Total Expenses 688,158 1,097,658 (Loss) before Income Tax (125,815) (35,880) Income Tax Expense - - (Loss) for the Year (125,815) (35,880) Other comprehensive Income for the year - - Total Comprehensive (Loss) for the year (125,815) (35,880)

The accompanying notes form part of these financial statements.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2019

Note 2019 2018 $ $ ASSETS CURRENT ASSETS Cash and cash equivalents 3 10,904 180,710 Trade and other receivables 4 46,695 34,367 Inventories 43,178 28,170 TOTAL CURRENT ASSETS 100,777 243,247 NON-CURRENT ASSETS Financial Assets - 2 Property, plant and equipment 7 35,852 37,817 Other Assets 6 6,236 3,200 TOTAL NON-CURRENT ASSETS 42,088 41,019 TOTAL ASSETS 142,865 284,266

LIABILITIES CURRENT LIABILITIES Trade and Other Payables 5 149,996 255,268 TOTAL CURRENT LIABILITIES 149,996 255,268

NON-CURRENT LIABILITIES Trade and other payables 5 98,235 8,549 TOTAL NON-CURRENT LIABILITIES 98,235 8,549 TOTAL LIABILITIES 248,231 263,817

NET (LIABILITIES) / ASSETS (105,366) 20,449

EQUITY Reserves 58,561 58,561 Retained earnings (163,927) (38,112) TOTAL EQUITY (105,366) 20,449

The accompanying notes form part of these financial statements.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

STATEMENT OF CHANGES IN EQUITY FOR YEAR ENDED 30 SEPTEMBER 2019

Retained Earnings Reserves Total $ $ $ Balance at 1 October 2018 (38,112) 58,561 20,449

(Loss) attributable to members (125,815) - (125,815) Other comprehensive Income for the year - - - Total comprehensive Income / (Loss) for the year (125,815) - (125,815)

Balance at 30 September 2019 (163,927) 58,561 (105,366)

Retained Earnings Reserves Total $ $ $ Balance at 1 October 2017 (2,232) 58,561 56,329

(Loss) attributable to members of the entity (35,880) - (35,880) Other Comprehensive Income for the year - - - Total comprehensive Income / (Loss) for the year (35,880) - (35,880)

Balance at 30 September 2018 (38,112) 58,561 20,449

The accompanying notes from part of these financial statements.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2019

Note 2019 2018 $ $ CASH FLOWS FROM OPERATING ACTIVITIES Receipts from Customers 511,099 1,033,470 Grant Income 27,930 127,346 Payments to suppliers and employees (710,613) (898,239) Interest Paid - (4,135) Interest Received 1,778 139 Net Cash (used in)/ provided by operating activities (169,806) 258,581

CASH FLOWS FROM INVESTING ACTIVITIES (Purchase) / Proceeds of property, plant and equipment - (96,497) Net cash (used in) investing activities - (96,497)

Net increase/(decrease) in cash and cash equivalents held (169,806) 162,084

Cash and cash equivalents at beginning of the year 180,710 18,626 Cash and cash equivalents at end of financial year 10,904 180,710

The accompanying notes from part of these financial statements.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

The financial statements are for West Harbour Rugby Football Club Limited as an individual entity, incorporated and domiciled in Australia. West Harbour Rugby Football Club Limited is a company limited by guarantee.

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements of the Australian Accounting Standards Board and the Corporations Act 2001. The company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards. Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated. The financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial statements have been rounded to the nearest dollar. Accounting Policies a. Revenue Revenue is measured at the fair value of the consideration received or receivable after taking into account any trade discounts. Any consideration deferred is treated as the provision of finance and is discounted at a rate of interest that is generally accepted in the market for similar arrangements. The difference between the amount initially recognised and the amount ultimately received is interest revenue.

Government and other grants are recognised when there is a reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised on a systematic basis over the period that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts over the expected useful life of the related asset. Specifically, government grants whose primary condition is that the company should purchase, construct or otherwise acquire non-current assets are recognised as deferred revenue in the statement of financial position and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets.

When the company receives grants of non-monetary assets, the asset and grant are recorded at nominal amounts and released to the profit or loss over the expected useful life of the asset, based on the pattern of consumption of the benefits of the underlying asset by equal annual instalments.

Donations and bequests are recognised as revenue when received.

Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument. Dividend revenue is recognised when the right to receive a dividend has been established.

Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.

All revenue is stated net of the amount of goods and services tax (GST).

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) b. Property, Plant and Equipment Each class of property, plant and equipment is carried at cost or fair value as indicated, less, where applicable, accumulated depreciation and impairment losses.

Plant and equipment Plant and equipment are measured on the cost basis less depreciation and impairment losses. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the asset’s employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts. Plant and equipment that have been contributed at no cost, or for nominal cost, are valued and recognised at the fair value of the asset at the date it is acquired. Depreciation The depreciable amount of all fixed assets, including buildings and capitalised lease assets, but excluding freehold land, is depreciated on a straight-line basis over the asset’s useful life to the entity commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. Each asset class’s carrying amount is written down immediately to its recoverable amount if the class’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income. When revalued assets are sold, amounts included in the revaluation surplus relating to that asset are transferred to retained earnings. c. Leases Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset but not the legal ownership are transferred to the entity, are classified as finance leases. Finance leases are capitalised, recording an asset and a liability equal to the present value of the minimum lease payments, including any guaranteed residual values. Leased assets are depreciated on a reducing balance basis over their estimated useful lives where it is likely that the entity will obtain ownership of the asset. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period. Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses on a reducing balance basis over the lease term. Lease incentives under operating leases are recognised as a liability and amortised on a reducing balance basis over the life of the lease term.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) d. Financial Instruments Current Year Initial recognition and measurement Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions to the instrument. For financial assets, this is the date that the entity commits itself to either the purchase or sale of the asset (i.e. trade date accounting is adopted). Financial instruments (except for trade receivables) are initially measured at fair value plus transaction costs, except where the instrument is classified as “at fair value through profit or loss”, in which case transaction costs are expensed to profit or loss immediately. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted. Trade receivables are initially measured at the transaction price if the trade receivables do not contain significant financing component or if the practical expedient was applied as specified in AASB 15: Revenue from Contracts with Customers. Classification and subsequent measurement

Financial liabilities Financial liabilities are subsequently measured at: – amortised cost; or – fair value through profit or loss.

A financial liability is measured at fair value through profit or loss if the financial liability is: – a contingent consideration of an acquirer in a business combination to which AASB 3: Business Combinations applies; – held for trading; or – initially designated as at fair value through profit or loss. All other financial liabilities are subsequently measured at amortised cost using the effective interest method. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest expense over in profit or loss over the relevant period. The effective interest rate is the internal rate of return of the financial asset or liability. That is, it is the rate that exactly discounts the estimated future cash flows through the expected life of the instrument to the net carrying amount at initial recognition.

A financial liability is held for trading if it is: – incurred for the purpose of repurchasing or repaying in the near term; – part of a portfolio where there is an actual pattern of short-term profit-taking; or – a derivative financial instrument (except for a derivative that is in a financial guarantee contract or a derivative that is in effective hedging relationships). Any gains or losses arising on changes in fair value are recognised in profit or loss to the extent that they are not part of a designated hedging relationship. The change in fair value of the financial liability attributable to changes in the issuer’s credit risk is taken to other comprehensive income and is not subsequently reclassified to profit or loss. Instead, it is transferred to retained earnings upon derecognition of the financial liability. If taking the change in credit risk in other comprehensive income enlarges or creates an accounting mismatch, then these gains or losses should be taken to profit or loss rather than other comprehensive income. A financial liability cannot be reclassified.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Financial assets Financial assets are subsequently measured at: – amortised cost; – fair value through other comprehensive income; or – fair value through profit or loss.

Measurement is on the basis of two primary criteria: – the contractual cash flow characteristics of the financial asset; and – the business model for managing the financial assets.

A financial asset that meets the following conditions is subsequently measured at amortised cost: – the financial asset is managed solely to collect contractual cash flows; and – the contractual terms within the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding on specified dates.

A financial asset that meets the following conditions is subsequently measured fair value through other comprehensive income: – the contractual terms within the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding on specified dates; and – the business model for managing the financial asset comprises both contractual cash flows collection and the selling of the financial asset.

By default, all other financial assets that do not meet the measurement conditions of amortised cost and fair value through other comprehensive income are subsequently measured at fair value through profit or loss. The entity initially designates a financial instrument as measured at fair value through profit or loss if: – it eliminates or significantly reduces a measurement or recognition inconsistency (often referred to as an “accounting mismatch”) that would otherwise arise from measuring assets or liabilities or recognising the gains and losses on them on different bases; – it is in accordance with the documented risk management or investment strategy and information about the groupings is documented appropriately, so the performance of the financial liability that is part of a group of financial liabilities or financial assets can be managed and evaluated consistently on a fair value basis; and – it is a hybrid contract that contains an embedded derivative that significantly modifies the cash flows otherwise required by the contract. The initial designation of financial instruments to measure at fair value through profit or loss is a one-time option on initial classification and is irrevocable until the financial asset is derecognised.

Equity instruments At initial recognition, as long as the equity instrument is not held for trading or is not a contingent consideration recognised by an acquirer in a business combination to which AASB 3 applies, the entity made an irrevocable election to measure any subsequent changes in fair value of the equity instruments in other comprehensive income, while the dividend revenue received on underlying equity instruments investment will still be recognised in profit or loss. Regular way purchases and sales of financial assets are recognised and derecognised at settlement date in accordance with the entity’s accounting policy. Derecognition Derecognition refers to the removal of a previously recognised financial asset or financial liability from the statement of financial position.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Derecognition of financial liabilities A liability is derecognised when it is extinguished (i.e. when the obligation in the contract is discharged, cancelled or expires). An exchange of an existing financial liability for a new one with substantially modified terms, or a substantial modification to the terms of a financial liability, is treated as an extinguishment of the existing liability and recognition of a new financial liability. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss. Derecognition of financial assets A financial asset is derecognised when the holder’s contractual rights to its cash flows expires, or the asset is transferred in such a way that all the risks and rewards of ownership are substantially transferred. All the following criteria need to be satisfied for the derecognition of a financial asset: – the right to receive cash flows from the asset has expired or been transferred; – all risk and rewards of ownership of the asset have been substantially transferred; and – the entity no longer controls the asset (i.e. has no practical ability to make unilateral decision to sell the asset to a third party). On derecognition of a financial asset measured at amortised cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss. On derecognition of a debt instrument classified as fair value through other comprehensive income, the cumulative gain or loss previously accumulated in the investment revaluation reserve is reclassified to profit or loss. On derecognition of an investment in equity which the entity elected to classify under fair value through other comprehensive income, the cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to profit or loss, but is transferred to retained earnings. The entity recognised a loss allowance for expected credit losses on: – financial assets that are measured at amortised cost or fair value through other comprehensive income; – lease receivables; – contract assets (e.g. amount due from customers under construction contracts); – loan commitments that are not measured at fair value through profit or loss; and – financial guarantee contracts that are not measured at fair value through profit or loss.

Loss allowance is not recognised for: – financial assets measured at fair value through profit or loss; or – equity instruments measured at fair value through other comprehensive income.

Expected credit losses are the probability-weighted estimate of credit losses over the expected life of a financial instrument. A credit loss is the difference between all contractual cash flows that are due and all cash flows expected to be received, all discounted at the original effective interest rate of the financial instrument.

The entity used the following approaches to impairment, as applicable under AASB 9: – the general approach; – the simplified approach; – the purchased or originated credit-impaired approach; and – low credit risk operational simplification.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) General approach Under the general approach, at each reporting period, the entity assesses whether the financial instruments are credit-impaired, and: – if the credit risk of the financial instrument has increased significantly since initial recognition, the entity measures the loss allowance of the financial instruments at an amount equal to the lifetime expected credit losses; and – if there is no significant increase in credit risk since initial recognition, the entity measures the loss allowance for that financial instrument at an amount equal to 12-month expected credit losses.

Simplified approach The simplified approach does not require tracking of changes in credit risk at every reporting period, but instead requires the recognition of lifetime expected credit loss at all times. This approach is applicable to: – trade receivables; and – lease receivables.

In measuring the expected credit loss, a provision matrix for trade receivables was used taking into consideration various data to get to an expected credit loss (i.e. diversity of its customer base, appropriate groupings of its historical loss experience, etc).

Purchased or originated credit-impaired approach For financial assets that are considered to be credit-impaired (not on acquisition or originations), the entity measured any change in its lifetime expected credit loss as the difference between the asset’s gross carrying amount and the present value of estimated future cash flows discounted at the financial asset’s original effective interest rate. Any adjustment is recognised in profit or loss as an impairment gain or loss. Evidence of credit impairment includes: – significant financial difficulty of the issuer or borrower; – a breach of contract (e.g. default or past due event); – a lender has granted to the borrower a concession, due to the borrower’s financial difficulty, that the lender would not otherwise consider; – the likelihood that the borrower will enter bankruptcy or other financial reorganisation; and – the disappearance of an active market for the financial asset because of financial difficulties.

Low credit risk operational simplification approach If a financial asset is determined to have low credit risk at the initial reporting date, the entity assumed that the credit risk has not increased significantly since initial recognition and, accordingly, can continue to recognise a loss allowance of 12-month expected credit loss. In order to make such a determination that the financial asset has low credit risk, the entity applied its internal credit risk ratings or other methodologies using a globally comparable definition of low credit risk. A financial asset is considered to have low credit risk if: – there is a low risk of default by the borrower; – the borrower has a strong capacity to meet its contractual cash flow obligations in the near term; and – adverse changes in economic and business conditions in the longer term, may, but not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations.

A financial asset is not considered to carry low credit risk merely due to existence of collateral, or because a borrower has a lower risk of default than the risk inherent in the financial assets, or relative to the credit risk of the jurisdiction in which it operates.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Recognition of expected credit losses in financial statements At each reporting date, the entity recognises the movement in the loss allowance as an impairment gain or loss in the statement of profit and loss and other comprehensive income. The carrying amount of financial assets measured at amortised cost includes the loss allowance relating to that asset. Assets measured at fair value through other comprehensive income are recognised at fair value with changes in fair value recognised in other comprehensive income. The amount in relation to change in credit risk is transferred from other comprehensive income to profit or loss at every reporting period. For financial assets that are unrecognised (e.g. loan commitments yet to be drawn, financial guarantees), a provision for loss allowance is created in the statement of financial position to recognise the loss allowance. Financial Instruments Comparative Year Initial recognition and measurement Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions to the instrument. For financial assets, this is equivalent to the date that the company commits itself to either purchase or sell the asset (i.e. trade date accounting is adopted). Financial instruments are initially measured at fair value plus transaction costs except where the instrument is classified “at fair value through profit or loss” in which case transaction costs are expensed to profit or loss immediately. Classification and subsequent measurement Financial instruments are subsequently measured at fair value, amortised cost using the effective interest rate method or cost. Fair value represents the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted. Amortised cost is calculated as: (i) the amount at which the financial asset or financial liability is measured at initial recognition; (ii) less principal repayments; (iii) plus or minus the cumulative amortisation of the difference, if any, between the amount initially recognised and the maturity amount calculated using the effective interest method; and (iv) less any reduction for impairment. The effective interest method is used to allocate interest income or interest expense over the relevant period and is equivalent to the rate that exactly discounts estimated future cash payments or receipts (including fees, transaction costs and other premiums or discounts) through the expected life (or when this cannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amount of the financial asset or financial liability. Revisions to expected future net cash flows will necessitate an adjustment to the carrying value with a consequential recognition of an income or expense in profit or loss. (i) Financial assets at fair value through profit or loss Financial assets are classified at “fair value through profit or loss” when they are held for trading for the purpose of short-term profit taking, or where they are derivatives not held for hedging purposes, or when they are designated as such to avoid an accounting mismatch or to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Such assets are subsequently measured at fair value with changes in carrying value being included in profit or loss.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) (ii) Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost. Loans and receivables are included in current assets, except for those which are not expected to mature within 12 months after the end of the reporting period. (All other loans and receivables are classified as non-current assets.) (iii) Held-to-maturity investments Held-to-maturity investments are non-derivative financial assets that have fixed maturities and fixed or determinable payments, and it is the entity’s intention to hold these investments to maturity. They are subsequently measured at amortised cost. Held-to-maturity investments are included in non-current assets, except for those which are expected to mature within 12 months after the end of the reporting period. (All other investments are classified as current assets.) If during the period the company sold or reclassified more than an insignificant amount of the held-to-maturity investments before maturity, the entire held-to-maturity investments category would be tainted and reclassified as available-for-sale. (iv) Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are either not capable of being classified into other categories of financial assets due to their nature, or they are designated as such by management. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments. Such assets are subsequently measured at fair value. Available-for-sale financial assets are included in non-current assets, except for those which are expected to be disposed of within 12 months after the end of the end of the reporting period. (All other financial assets are classified as current assets.) (v) Financial liabilities Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost. Fair value Fair value is determined based on current bid prices for all quoted investments. Valuation techniques are applied to determine the fair value for all unlisted securities, including recent arm’s length transactions, reference to similar instruments and option pricing models. Impairment At the end of each reporting period, the entity assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether impairment has arisen. Impairment losses are recognised in the statement of comprehensive income. Derecognition Financial assets are derecognised where the contractual rights to receipt of cash flows expire or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are discharged, cancelled or expired. The difference between the carrying value of the financial liability, which is extinguished or transferred to another party, and the fair value of consideration paid, including the transfer of non-cash assets or liabilities assumed, is recognised in profit or loss.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) e. Impairment of Assets At the end of each reporting period, the entity reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the statement of comprehensive income. Where the future economic benefits of the asset are not primarily dependent upon the asset’s ability to generate net cash inflows and when the entity would, if deprived of the asset, replace its remaining future economic benefits, value in use is determined as the depreciated replacement cost of an asset. Where it is not possible to estimate the recoverable amount of a class of assets, the entity estimates the recoverable amount of the cash-generating unit to which the class of assets belong. Where an impairment loss on a revalued asset is identified, this is debited against the revaluation surplus in respect of the same class of asset to the extent that the impairment loss does not exceed the amount in the revaluation surplus for that same class of asset. f. Employee Benefits Provision is made for the company’s liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability, consideration is given to employee wage increases and the probability that the employee may not satisfy vesting requirements. Those cash outflows are discounted using market yields on national government bonds with terms to maturity that match the expected timing of cash flows. Contributions are made by the entity to an employee superannuation fund and are charged as expenses when incurred. g. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the statement of financial position.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) h. Income Tax No provision for income tax has been raised as the Institute is exempt from income tax under Div 50 of the Income Tax Assessment Act 1997. i. Provisions Provisions are recognised when the entity has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result, and that outflow can be reliably measured. Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period. j. Comparative Figures Where required by Accounting Standards, comparative figures have been adjusted to conform with changes in presentation for the current financial year. When an entity applies an accounting policy retrospectively, makes a retrospective restatement or reclassifies items in its financial statements, a statement of financial position as at the beginning of the earliest comparative period must be disclosed. k. Trade and Other Payables Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) l. Going Concern

The directors believe that the company is a going concern based on several factors including:

• The appointment of a highly experienced individuals to positions as directors of the Club's board to provide stable and capable long term strategic governance; • The continued support of its members and sponsors, including a negotiated new sponsorship agreement with our major partner, Club Burwood until 2022; • The active engagement of a new cohort of members through a revised membership package plan to attract and maximise member and supporter numbers from a broader demographic reflecting the Club's move to Drummoyne Oval for the next two years including Hunters Hill, Drummoyne, Russell Lea, Balmain, Roselle and Five Dock; • A focus on tapping into the changing and varied ethnic demographics of the Inner West Area through the development of Memorandums of Understanding with the Korean and Lebanese Rugby Unions; • Active recruitment of quality players and excellent player numbers for preseason training; • Negotiated a new licence agreement and Deed of Forbearance with Canada Bay Council until 2029; • Secured Drummoyne Oval as our home ground for the next two years; • Active Sponsorship Committee that is in the process of securing new sponsorship to further increase our sponsorship income in 2020; • Expansion of the Club's supporter base and exposure through hosting Round One of 2020 season in Bathurst; • Implementation and development of fully funded junior development programs. • The development and leadership of the Inner West Rugby Hub and a new school's competition, the Wangal Cup; • Returning to the newly developed Concord Oval, which will be the best rugby facility in the Shute Shield; & • The continued growth and popularity of club rugby in Sydney and the Shute Shield competition.

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 2: REVENUE AND OTHER INCOME 2019 2018 $ $ Revenue Finance Income Interest and Dividend received 1,776 139 Other Revenue Sponsorship 255,476 478,013 Grant Income 30,526 116,201 Trading Income 47,849 15,366 Membership Fees 2,912 25,810 Gate Takings 7,325 26,926 Bar Income 51,644 98,486 In-kind sponsorship and benefits 53,672 126,017 Grade subscriptions 9,956 30,856 Functions and Events 31,933 64,645 Sundry Income 69,274 79,319 Total revenue 562,343 1,061,778

NOTE 3: CASH AND CASH EQUIVALENTS 2019 2018 $ $ Cash at bank 10,904 180,710 10,904 180,710

Reconciliation of Cash at Bank Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the statement of financial position as follows: Balance per Statement of Financial Position 10,904 180,710 Balance per Statement of Cashflows 10,904 180,710 Difference - -

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 4: TRADE AND OTHER RECEIVABLES 2019 2018 $ $ CURRENT Trade receivables 42,678 34,367 Other receivables 4,017 - 46,695 34,367

NOTE 5: TRADE AND OTHER PAYABLES 2019 2018 $ $ CURRENT Trade and other payables 147,400 207,415 Income in Advance - 45,257 Deferred Grant Income 2,596 2,596 149,996 255,268 NON-CURRENT Trade and other payables 92,282 - Deferred Grant Income 5,953 8,549 98,235 8,549

NOTE 6: OTHER ASSETS 2019 2018 $ $ CURRENT Rental Bond 6,236 3,200 6,236 3,200

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 7: PROPERTY, PLANT AND EQUIPMENT 2019 2018 $ $ PLANT AND EQUIPMENT Plant & equipment at cost 33,460 124,894 Accumulated Depreciation (9,752) (100,159) 23,708 24,735

Football Gear at cost 44,302 44,302 Accumulated Depreciation (37,782) (37,782) 6,520 6,520

West Harbor Gym Equipment & High-Performance Centre At cost 130,761 130,761 Impairment (103,007) (103,007) Accumulated Depreciation (27,754) (27,754) - -

Motor Vehicle at cost 7,500 7,500 Accumulated Depreciation (1,876) (938) 5,624 6,562

Total property, plant and equipment 35,852 37,817

Movements in Carrying amounts of property, plant and equipment

Plant & Football Motor Vehicles Total

Equipment Gear $ $ $ $ 30 September 2018

Balance at the beginning of the year 24,735 6,520 6,562 37,817

Additions 5,000 - - 5,000

Depreciation Expense (6,027) - (938) (6,965)

Balance at the end of the year 23,708 6,520 5,624 35,852

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 9: GRANTS Note 2019 2018 $ $ At 1 October 11,145 - Received during the year 27,930 127,346 Released to Statement of Profit or Loss (30,526) (116,201) At 30 September 8,549 11,145

Current 5 2,596 2,596 Non-Current 5 5,953 8,549 8,549 11,145

NOTE 10: MEMEBERS’ GUARANTEE

The company is incorporated under the Corporation Act 2001 and is a company limited by guarantee. If the company is wound up, the constitution states that each member is required to contribute a maximum of $20 towards meeting any outstanding obligations of the company. At 30 September 2019, the number of members was 462.

NOTE 11: KEY MANGEMENT PERSONNEL DISCLOSURES

The total remuneration paid to key management personnel of the company for the year ended 30 September 2019 was $nil (2018: $nil).

Other Key management personnel transactions

For details of other transactions with key management personnel, refer to Note 13: Related Party Transactions

NOTE 12: CONTINGENCIES

In the opinion of the directors, the company did not have any contingencies at 30 September 2019 (30 September 2018: None).

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

NOTE 13: RELATED PARTIES

(a) The company’s main related parties are as follows: Key Management personnel

Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity are considered key management personnel.

For details of remuneration disclosures relating to key management personnel, refer to Note 11: Key Management Personnel Disclosures.

Other transactions with KMP and their related entities are shown below.

(b) Transactions with related parties

There were no transactions with related parties during the year ended 30 September 2019, other than as follows: (2018: none).

Mr. Chris Charlton (Director and Treasurer) provided accountancy services to the company, amounting to $10,000 in the financial year. These services were provided under a sponsorship in kind agreement, with no payments being made by the company.

NOTE 14: EVENTS OCCURRING AFTER THE REPORTING DATE

Mr. Thomas Games and Mr. Simon Greally were appointed as company directors on 31 December 2019.

NOTE 15: COMPANY DETAILS

The registered office of the company is:

Level 8 261 George St, Sydney NSW 2000

The principal place of business of the company is:

'Concord Oval', 1 Loftus Street, Concord, 2137, NSW

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497

DIRECTORS’ DECLARATION

The directors of the entity declare that:

1. The financial statements and notes are in accordance with Corporations Act 2001:

a. comply with Australian Accounting Standards - Reduced Disclosure Requirements; and

b. give a true and fair view of the financial position as at 30 September 2019 and of the performance for the year ended on that date of the entity.

2. In the directors’ opinion, there are reasonable grounds to believe that the entity will be able to pay its debts as and when they become due and payable.

This declaration is signed in accordance with a resolution of the Board of Directors.

Director Dated this day of 2020

West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497