West Harbour Rugby Union Football Club Limited
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West Harbour Rugby Union Football Club Limited ABN: 11 099 077 497 Financial Report For the Year Ended 30 September 2019 West Harbour Rugby Union Football Club Limited 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 1 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. 2 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; 3 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.