VALLEY AND SPORTS CLUB LIMITED

ANNUAL REPORT 2018/2019 2 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED CONTENTS

NOTICE OF ANNUAL GENERAL MEETING 5 PRESIDENT’S REPORT 8 CEO’S REPORT 10 FINANCIAL REPORT YEAR ENDED 30 JUNE 2019 14 STATEMENT OF COMPREHENSIVE INCOME 17 STATEMENT OF FINANCIAL POSITION 18 STATEMENT OF CASH FLOWS 19 STATEMENT OF CHANGES IN EQUITY 20 NOTES TO THE FINANCIAL STATEMENTS 21

2018/2019 ANNUAL REPORT 3

NOTICE OF ANNUAL GENERAL MEETING

Notice is given to members that the 41st Annual General Meeting of Tuggeranong Valley Rugby Union and Sports Club Limited will be held at:

Place: Town Centre Vikings, The Athllon Room Rowland Rees Crescent GREENWAY ACT 2900 Date: Wednesday, 18 September 2019 Time: 6:30pm for a 7:00pm commencement

Agenda:

1. Welcome and Apologies; 2. Members in Attendance; 3. Confirmation of the Minutes of the 40th Annual General Meeting held on 19 September 2018; 4. Business Arising from the 2018 AGM Minutes; 5. Presentation of the Annual Report; 6. Presentation of the Finance Statements; 7. Auditors Report; 8. Ordinary Resolutions; i. Adoption of the Audited Financial Report for 2018/19; ii. Approval of Expenditure for Section 53(1)c of the Gaming Act 2004; iii. Election of Directors for 2019/20; iv. Appointment of the Auditor; v. Fixing of the Auditor’s remuneration; 9. General Business/Questions 10. Meeting Close

APPOINTMENT OF PROXIES Proxy forms are available to Members, should they be unable to attend the AGM and yet wish to vote on Agenda business. Members can collect proxy forms at the Vikings Erindale Administration Office; 6 Ricardo Street WANNIASSA ACT 2903 during weekday business hours (9am–5pm) from Monday 26 August 2019 through to Monday 16 September 2019. Nominated Proxies must also be current financial Members.

2018/2019 ANNUAL REPORT 5 6 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED GENERAL INFORMATION

The financial statements cover Tuggeranong Valley Rugby Union and Sports Club Limited as an individual entity. The financial statements are presented in Australian dollars, which is Tuggeranong Valley Rugby Union and Sports Club Limited’s functional and presentation currency. The Club, incorporated in , is a Company limited by guarantee under the Corporations Act 2001. As such no dividends can be paid to members. The liability of each member is limited to any unpaid amounts outstanding on any entrance fee and annual subscription. The Club’s registered office is located at 6 Ricardo Street, Wanniassa in the Australian Capital Territory. The Club’s financial report for the year ended 30 June 2019 was authorised for issue in accordance with a resolution of the directors. The Club employed 244 employees as at 30 June 2019 (2018: 219).

2018/2019 ANNUAL REPORT 7 PRESIDENT’S REPORT

On behalf of the Board of Directors, it is with pleasure Vikings again contributed around $2m in support that I provide to you the Vikings Group Annual Report of the many sporting and community groups who for the period ending 30 June, 2019. continue to be so active in our community. A special thank you to all of the volunteers who continue to It has been a year of many challenges for the Group, dedicate their time and experience that ensure the both internally and externally. The ongoing downward success of those groups. pressure from Government on the Club industry continues to create an environment of uncertainty We have been very proud to have partnered with with the reduction of gaming machines across Clubs Marymead this past year as our Charity of the Year being finalised in February, a new levy on the use which culminates with the Bride and Groom Ball in of the remaining machines, and the changes to the September. Community Contribution Scheme that will restrict The Board is also focused on the ongoing where these funds can be directed, as well as the requirements to diversify away from gaming. Board additional requirement to contribute to the Chief and management continue to look at and consider the Minister’s Charity Fund. Whilst we did not support effectiveness and further development of our existing any of these initiatives, we hope to be able to engage assets and assess new diversification opportunities positively with legislators into the future to offer as they present. No decision is easy in a difficult alternative actions and make known the effect that economic environment and the Board is engaged proposed changes will have on Clubs being able to with industry professionals to ensure appropriate provide continued support to the community. information and analysis is available to assist. Clubs in the ACT provide ongoing support to It was with great sadness that we bade farewell to the many diverse social and recreational needs Peter Webb in December after a short battle with of the community. The Vikings Group Board and illness. Peter was a longstanding Director and former management maintain a strong focus on continuing Vikings Group CEO who was very well respected this support in the Tuggeranong Valley and the greater within and external to the Club industry. He was a region with a commitment toward sustaining our core colourful conversationalist and was always willing to business so that members are able to enjoy the many provide an opinion or provide an experienced voice services and offerings that are essential to our modern in the decision making process. Peter was a great and vibrant Clubs. Clubman and very much enjoyed his rugby. Peter will All credit must go to staff and management looking be very much missed and the Vikings Group would after the Food and Beverage function in our Clubs. not have evolved to where we are now without his Taking over the catering function at Chisholm has commitment and drive. not been an easy task but feedback from members Taryn Langdon joined the Vikings Board in March to has been very positive. The work undertaken in fill the vacant Director position. Taryn brings a wealth conjunction with the Cookery staff following the fire in of experience in community engagement and local the Cookery kitchen earlier this year saw only a minor government involvement. Her contribution to the disruption to food services. Notwithstanding a slightly Board has been very well received and provides a reduced menu, the work to continue to operate in unique and refreshing perspective given that she is the such circumstances was an outstanding effort. first female Board member of the Vikings Group.

8 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED PRESIDENT’S REPORT CONT.

The 2019 rugby season has now come to an end, The Board thanks CEO Anthony Hill for his support and whilst there was no silverware from Grand Final and advice in producing great results across the day, there has been plenty of young players exposed business. The management team and staff have to higher grades that will serve the Club well into the been very available and willing to engage the Board future. An early pre season tour to Singapore set to discuss and advise on operational activity and the scene to establish a strong culture of hard work initiatives that keep our service offering at the forefront and commitment both on and off the field which will of the industry. add to the focus of future success. Congratulations On behalf of the Board, management and staff of to Brendan Allardyce and Coach Nick Scrivener on the Vikings Group, a special thanks to our members guiding teams into the finals and a season that will be for your continued support of our Clubs. We aim to readily built upon. provide you with the best hospitality has to offer and ‘From humble beginnings’ is a term synonymous with we hope to see you again in one of our Clubs soon. John McGrath. John has seen and been very involved in and indeed driven many of the decisions and changes that have taken place to both the Licensed Club and the Rugby Club since the inception of both entities in the 1970s. It’s a long time to be involved and John has made the decision to retire from the Board. His drive and commitment to see that the David Assenheim Vikings Group is successful is very much appreciated President and will be celebrated in the near future at his farewell. 2019 At the same time, John has always had a strong focus on ensuring the Rugby Club is successful and sustainable and has had a strong influence on rugby in general, not only locally, but also the wider rugby environment. Always willing to share an opinion on the direction of rugby, he’ll be found at Viking Park watching the Redmen from Tuggeranong and the Vikings who kick off their new season shortly.

2018/2019 ANNUAL REPORT 9 CEO’S REPORT

Over the past 5 years the Club industry has seen an As mentioned, the move across border has provided enormous amount of change. Be it technological, opportunities for the Vikings Group to grow core digitized, legislative or environmental, there has business. In partnership with QSCC, Vikings not been a year pass that has not introduced new commenced the renovation of the old Queanbeyan challenges to the way we operate our Clubs. In the Bowling Club, first established in 1934. Together a next five years we expect the rate of change, in vision has been realised and born from that vision a particular the introduction of new technologies, to new hospitality venue called Campbell & George. accelerate and drive advancement in our industry. Campbell & George is where pub meets club and the It is hard to ignore the wave of change that is on offerings of both combine to provide the surrounding our doorstep. Innovation and the embracing of new district with a truly unique offering. Due to open early technology will be the key to our success over the November, Campbell & George is a Club with a next 5 years. In this context 2018/19 has been a year difference and we look forward to telling more of the of new frontiers for the Vikings Group as we pursue story throughout the year. and progress our most important strategic initiatives. Harm minimisation is often used to describe the efforts In February this year Vikings opened up its newest to minimise the impact on people and those close to venue, Badger & Co. A light filled gastropub set in them of harm associated with the over use, spend or the heart of the new Kambri ANU precinct, Badger participation in products or activities. & Co is Vikings first non-gaming hospitality venue. The ACT Government in its most recent introduction Badger & Co provides a theatre for innovation. A of gaming related legislation declared a public health completely cashless business, it provides the ease approach to gaming related harm. As part of this of tap-and-go while removing the threat of armed approach they have reduced gaming machine licenses holdups and intrusions that has plagued Canberra’s in the ACT by 1000. The leader for the ACT Greens licensed venues in recent years. The Badger as Shane Rattenburry has signalled further reductions it is affectionately known has been well received coupled with more restrictions on Clubs if returned to by students, faculty members and surrounding Government in 2020. I will keep members informed businesses. It is helping us improve our F&B skills closer to the 2020 election on the major party’s policies while providing another revenue stream for the Clubs. I that effect your Clubs. look forward to watching it grow and mature as part of the Vikings Group. The Vikings Group continues to maintain a strong emphasis on sustainability. As part of our sustainability The last 12 months also saw the advancement of approach we take into account the short-term impact the Vikings Group across border into NSW. Through and long-term pain of a business model that relies a strong partnership with the Queanbeyan Sports & on the proceeds of excess gambling or alcohol use. Community Club (QSCC LTD), Vikings has established We continue to look at ways to improve our flagship premises and property in Queanbeyan. This harm minimisation initiatives, Don’t waste tomorrow – advancement cross border provides Vikings with an prompting members to think about the consequences opportunity to geographically diversify while growing of over indulgence of alcohol, and Play within your our core business. The relationship with Queanbeyan limits – promoting responsible gaming. We are at the Sports & Community Club has been 5 years in the forefront of discussions within the industry on how to making and I thank everyone involved for their hard improve our harm minimisation strategies. work to provide this opportunity.

10 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED CEO’S REPORT CONT.

Steering a business away from a reliance on gaming As always, I like to finish off my annual report is not an overnight exercise. The Vikings Group mentioning the most valuable asset our Club has. is fortunate that the foresight of Boards past has Nearly 250 staff work across 5 venues each day to provided the strong foundations for change and the provide our members and their guests with the best financial stability of our Club is underwritten by a strong hospitality has to offer. They are vibrant innovative diversification portfolio. As you will see in the annual and tireless in their pursuit to deliver great service to report your Club remains financially stable and able our members and their guests. I would like to thank to support the members and the broader community my management team for continually rising to the in step with community expectations. I am pleased challenges put before them and look forward to seeing to announce that once again your Club provided in the Vikings Group continue to strive to provide our excess of $2 million dollars in community, charitable members and guests the best hospitality has to offer in and sporting assistance over the past 12 months. the coming year and beyond. In December 2018 the Club was saddened by the loss of one if its longest surviving Officer Bearers. Peter Webb passed away in the company of family on the 29th of December 2018. Peter served on the board of Vikings up until his death. Prior to being a member of the Board Peter was the Clubs CEO for 10 years. Peters involvement with the Club pre dates his time as CEO and he has been instrumental in the success of Anthony Hill the Club its Growth and prosperity. Chief Executive Officer Peters influence on the success of the Club can not be over stated. However, he will be remembered for more than that, especially by those that had the good fortune to work for and alongside him. Peter promoted an environment that ensured everyone in the business felt valued and appreciated, regardless of your role Peter treated everyone with the same level of care and compassion and is responsible for the success of many careers in our industry. A mentor, leader and above all a friend, Peter is missed. VALE Peter Lonsdale Webb 11March 1942 – 29 December 2018. As we face change and challenges, I couldn’t continue moving forward without the support and counsel of the Vikings Board. I would like to take this opportunity to thank the President David Assenheim and his fellow Board Members for the countless hours they put into ensuring the prosperity and future of the Vikings Group.

2018/2019 ANNUAL REPORT 11 12 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED 2018/2019 ANNUAL REPORT 13 FINANCIAL REPORT YEAR ENDED 30 JUNE 2019

DIRECTORS’ REPORT Principal Activities The principal activities of the Club during the financial year were running 4 licensed Clubs. Incorporation The Club is incorporated, as a company limited by guarantee, under the Corporations Act 2001 (C’Wlth). The Link Between These Activities and Achieving Objectives The Club’s 4 licensed premises earn the cash and Directors surpluses needed to support the Club’s sporting, The names of the Directors of the Club in office during community and social objectives. the year and until the date of this report were:

David Assenheim President Measuring Performance The Club operates a Sports Council that meets Martyn O’Brien Vice-President monthly to co-ordinate the Club’s support for all Timothy Hutchinson Executive Director its affiliated sporting and community clubs. That John McGrath Director body provides the feedback to allow performance measurement of all the Club’s sporting and community Taryn Langdon Director activities. As far as the Club’s licensed premises Peter Webb Director are concerned, success is measured by meeting Geoff Adam Director financial targets established at the start of the year, Dean Browne Director visitation numbers, external Consultants’ reports and benchmarking against like ACT organisations. David Paull Director Results Objectives The Club’s net operating surplus during the year was The Club’s objectives are to encourage rugby union $1,681,419 (2018: surplus $151,858). and sport in the Tuggeranong Valley and to provide recreation and sporting facilities for its members. The

Club is a not - for - profit entity. Environmental Regulation and Performance Significant changes in the state The Club’s operations are subject to various of affairs environmental regulations under both Commonwealth and Territory legislation. The Board believes that There have been no significant changes during 2018- the Club has adequate systems in place for the 19 in the Club’s state of affairs. management of its environmental requirements and is not aware of any breach of those requirements as they Strategy for Achieving Objectives apply to the Club. The Club provides about $2M per annum in grants, infrastructure and other support to more than 50 sporting and community based clubs in the Tuggeranong Valley. It also maintains four licensed Club premises that provide a social outlet for over 40,000 members in the Tuggeranong Valley.

14 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED FINANCIAL REPORT YEAR ENDED 30 JUNE 2019 CONT.

Directors’ Benefits Contributions on Winding Up The directors received honorariums of $82,127 (2018: In the event of the Club being wound up, ordinary $75,002) during the year. members are required to pay any unpaid membership fees. Directors’ Meetings The number of meetings of the Club’s Board of Auditor’s Independence and Declaration Directors (‘the Board’) and of each Board committee A copy of the auditor’s independence declaration as held during the year ended 30 June 2019, and the required under section 307C of the Corporations Act number of meetings attended by each director were: 2001 is set out immediately after this directors’ report.

No. No. Eligible Signed in accordance with a resolution of the Directors Director’s Name Meetings Meetings Attended David Assenheim 13 11 Martyn O’Brien 13 12 Timothy Hutchinson 13 10 David Assenheim Martyn O’Brien David Paull 13 11 President Vice President Geoff Adam 13 13 20 August 2019 20 August 2019 Peter Webb 6 3 John McGrath 13 11 Dean Browne 13 9 Taryn Langdon 5 5

Peter Webb performed the role of Director from July 2018 to December 2018. Taryn Langdon started as a Director in March 2019.

Indemnification and Insurance of Officers During the financial year, the Club paid $20,609 for Directors and Officers Liability Insurance which covered those persons and the Club against losses arising out of wrongful acts of those persons (2018: $15,499).

2018/2019 ANNUAL REPORT 15 Directors’ Declaration

In accordance with a resolution of the directors of This declaration has been made after receiving the Tuggeranong Valley Rugby Union and Sports Club declarations required to be made to the directors in Limited (the Club), I state that: accordance with sections 295A of the Corporations Act 2001 for the financial period ended 30 June 2019. In the opinion of the directors: • the financial statements and notes of the Club are in accordance with the Corporations Act 2001 and the On behalf of the directors Gaming Machine Act 2004 (ACT), including: (i) giving a true and fair view of the Club‘s financial position as at 30 June 2019 and of its performance for the year ended on that date; and (ii) complying with Accounting Standards and David Assenheim Martyn O’Brien Corporations Regulations 2001; President Vice President • there are reasonable grounds to believe that the 20 August 2019 20 August 2019 Club will be able to pay its debts as and when they become due and payable.

16 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED NOTES 2019 2018 $ $

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2019 NOTES 2019 2018 $ $

CONTINUING OPERATIONS

SALES REVENUE 34,093,715 32,610,217

COST OF SALES (16,827,274) (14,620,332)

GROSS SURPLUS 17,266,441 17,989,885

RENT FROM COMMERCIAL PROPERTY 8 3,602,371 3,458,475 INVESTMENTS

OTHER REVENUE FROM CONTINUING 2 2,975,041 1,396,249 OPERATIONS

Depreciation and Impairment 3a) (6,377,285) (5,586,488) Borrowing Cost Expense 3b) (1,551,272) (1,325,990) Commercial Property Investment Operating Costs 8 (171,728) (400,945) Costs of Non-Core Activities 3c) (1,888,685) (2,046,894) Operating Overheads 3d) (12,173,464) (13,332,434)

(22,162,434) (22,692,751)

SURPLUS FROM CONTINUING OPERATIONS 1,681,419 151,858 BEFORE INCOME TAX EXPENSE

Income Tax Benefit Relating to Continuing Operations 5 1,722,348 -

SURPLUS FROM CONTINUING OPERATIONS 3,403,767 151,858 AFTER INCOME TAX EXPENSE

SURPLUS FOR THE YEAR 3,403,767 151,858

OTHER COMPREHENSIVE INCOME - 602,000

TOTAL COMPREHENSIVE INCOME 3,403,767 753,858

2018/2019 ANNUAL REPORT 17 STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2019 NOTES 2019 2018 $ $ ASSETS Current Assets Cash Assets Equivalents 4 2,875,157 2,348,861 Investments 6 6,590,068 8,759,038 Trade & Other Receivables 7 578,227 2,605,763 Inventories 292,145 308,174 Other 561,391 579,009 Asset Held for Sale 8 31,984,666 397,336 Deferred Tax Asset 5 1,722,348 - Total Current Assets 44,604,002 14,998,183 Non-Current Assets Investments 6 2,082,000 2,082,000 Trade & Other Receivables 7 3,164,205 675,320 Investment Properties 8 5,652,966 35,721,531 Property, Plant & Equipment 9 48,437,322 48,103,395 Intangibles 222,000 222,000 Total Non-Current Assets 59,558,493 86,804,246 TOTAL ASSETS 104,162,495 101,802,429 LIABILITIES Current Liabilities Payables 10 2,006,964 2,494,458 Interest-Bearing Liabilities 12 27,770,937 1,487,955 Provisions 11 808,259 1,179,288 Total Current Liabilities 30,586,160 5,161,701 Non-Current Liabilities Payables 10 85,970 83,333 Interest-Bearing Liabilities 12 1,000,000 27,733,413 Provisions 11 333,540 70,924 Total Non-Current Liabilities 1,419,510 27,887,670 TOTAL LIABILITIES 32,005,670 33,049,371 NET ASSETS 72,156,825 68,753,058 MEMBERS’ FUNDS Accumulated Funds 72,156,825 68,151,058 Reserves - 602,000 TOTAL MEMBERS’ FUNDS 72,156,825 68,753,058

18 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2019 NOTES 2019 2018 $ $

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from Customers 44,364,064 40,398,523 Payments to Suppliers and Employees (41,425,817) (33,529,701) Interest Received 113,610 319,905 Borrowing Costs (1,551,272) (1,325,990) Net Cash Flows from Operating Activities 1,500,585 5,862,737

CASH FLOWS FROM FINANCING ACTIVITIES

Loans Re-Paid/(provided to) Sporting Clubs (894,961) (235,301) Receipts from/(repayment of) borrowings (450,431) (1,453,478) Net Cash Flows from/(used in) Financing Activities (1,345,392) (1,688,779)

CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from/(payments for) Property, Plant & (9,733,249) Equipment (3,327,739)

Proceeds from/(payments for) Investments 2,364,293 77,759 Proceeds from/(payments for) Investment Properties 1,334,549 - Net Cash Flows used in Investing Activities 371,103 (9,655,490)

NET (DECREASE)/INCREASE IN CASH HELD 526,296 (5,481,532)

ADD OPENING CASH BROUGHT FORWARD 4 2,348,861 7,830,393

CLOSING CASH CARRIED FORWARD 2,875,157 2,348,861

2018/2019 ANNUAL REPORT 19 STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2019

Investment Accumulated Revaluation Total Funds Reserve $ $ $ BALANCE AT 30 JUNE 2017 - 67,999,200 67,999,200 Net Surplus for the Year - 151,858 151,858 Other Comprehensive Income for the Year 602,000 - 602,000

BALANCE AT 30 JUNE 2018 602,000 68,151,058 68,753,058 Net Surplus for the Year - 3,403,767 3,403,767 Other Comprehensive Income for the Year (602,000) 602,000 -

BALANCE AT 30 JUNE 2019 - 72,156,825 72,156,825

20 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019 Impact of adoption AASB 9 was adopted using the modified retrospective approach and as such comparatives have not been restated. There was no impact NOTE 1: SIGNIFICANT ACCOUNTING POLICIES on opening retained profits as at 1 July 2018. The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been Basis of preparation consistently applied to all the years presented, unless otherwise The financial report is a general purpose financial report, which stated. has been prepared in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards - Reduced New or amended Accounting Standards and Interpretations Disclosure Requirements and other authoritative pronouncements adopted of the Australian Accounting Standards Board. The financial report The Club has adopted all of the new or amended Accounting has also been prepared on a historical cost basis, except for financial Standards and Interpretations issued by the Australian Accounting instruments which have been measured at fair value. The financial Standards Board (‘AASB’) that are mandatory for the current reporting report is presented in Australian dollars and all values are rounded to period. the nearest dollar unless otherwise stated. The financial statements provide comparative information in respect of the previous period. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance Statement of Compliance or position of the Club. The following Accounting Standards and Interpretations are most relevant to the Club: The Club is a not-for-profit, private sector entity which is not publicly accountable. Therefore, the financial statements for the Club are tier 2 general purpose financial statements which have been prepared AASB 9 Financial Instruments in accordance with Australian Accounting Standards - Reduced The Club has adopted AASB 9 from 1 July 2018. The standard Disclosure Requirements (AASB - RDRs). introduced new classification and measurement models for financial assets. A financial asset shall be measured at amortised cost if it is Comparative figures held within a business model whose objective is to hold assets in order to collect contractual cash flows which arise on specified dates Where necessary, comparative figures have been adjusted to conform and that are solely principal and interest. A debt investment shall be to changes in presentation in these financial statements. measured at fair value through other comprehensive income if it is held within a business model whose objective is to both hold assets Historical cost convention in order to collect contractual cash flows which arise on specified The financial statements have been prepared under the historical cost dates that are solely principal and interest as well as selling the asset convention. on the basis of its fair value. All other financial assets are classified and measured at fair value through profit or loss unless the entity Critical accounting estimates makes an irrevocable election on initial recognition to present gains The preparation of the financial statements requires management and losses on equity instruments (that are not held-for­ trading or to make judgements, estimates and assumptions that affect the contingent consideration recognised in a business combination) in reported amounts in the financial statements. Management continually other comprehensive income (‘OCI’). Despite these requirements, evaluates its judgements and estimates in relation to assets, liabilities, a financial asset may be irrevocably designated as measured at fair contingent liabilities, revenue and expenses. Management bases its value through profit or loss to reduce the effect of, or eliminate, an judgements, estimates and assumptions on historical experience accounting mismatch. For financial liabilities designated at fair value and on other various factors, including expectations of future events, through profit or loss, the standard requires the portion of the change management believes to be reasonable under the circumstances. The in fair value that relates to the entity’s own credit risk to be presented resulting accounting judgements and estimates will seldom equal the in OCI (unless it would create an accounting mismatch). New simpler related actual results. The judgements, estimates and assumptions hedge accounting requirements are intended to more closely align that have a significant risk of causing a material adjustment to the the accounting treatment with the risk management activities of the carrying amounts of assets and liabilities (refer to the respective notes) entity. New impairment requirements use an ‘expected credit loss’ within the next financial year are discussed below. (‘ECL’) model to recognise an allowance. Impairment is measured using a 12 -month ECL method unless the credit risk on a financial instrument has increased significantly since initial recognition in which case the lifetime ECL method is adopted. For receivables, a simplified approach to measuring expected credit losses using a lifetime expected loss allowance is available.

2018/2019 ANNUAL REPORT 21 NOTES TO THE FINANCIAL STATEMENTS (CONT)

NOTE 1: SIGNIFICANT ACCOUNTING POLICIES CONTINUED Fair value measurement When an asset or liability, financial or non-financial, is measured at fair Estimation of useful lives of assets value for recognition or disclosure purposes, the fair value is based The Club determines the estimated useful lives and related on the price that would be received to sell an asset or paid to transfer depreciation and amortisation charges for its property, plant and a liability in an orderly transaction between market participants at the equipment and finite life intangible assets. The useful lives could measurement date; and assumes that the transaction will take place change significantly as a result of technical innovations or some other either: in the principal market; or in the absence of a principal market, event. The depreciation and amortisation charge will increase where in the most advantageous market. the useful lives are less than previously estimated lives, or technically Fair value is measured using the assumptions that market participants obsolete or non-strategic assets that have been abandoned or sold would use when pricing the asset or liability, assuming they act will be written off or written down. in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation Impairment of nonfinancial assets other than goodwill and techniques that are appropriate in the circumstances and for other indefinite life intangible assets which sufficient data are available to measure fair value, are used, The Club assesses impairment of non-financial assets other than maximising the use of relevant observable inputs and minimising the goodwill and other indefinite life intangible assets at each reporting use of unobservable inputs. date by evaluating conditions specific to the Club and to the particular asset that may lead to impairment. If an impairment trigger exists, the Goods and Services Tax (‘GST’) and other similar taxes recoverable amount of the asset is determined. This involves fair value Revenues, expenses and assets are recognised net of the amount less costs of disposal or value-in-use calculations, which incorporate of associated GST, unless the GST incurred is not recoverable from a number of key estimates and assumptions. the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables Employee benefits provision and payables are stated inclusive of the amount of GST receivable or As discussed below in note 11, the liability for employee benefits payable. The net amount of GST recoverable from, or payable to, the expected to be settled more than 12 months from the reporting tax authority is included in other receivables or other payables in the date are recognised and measured at the present value of the statement of financial position. Cash flows are presented on a gross estimated future cash flows to be made in respect of all employees basis. The GST components of cash flows arising from investing or at the reporting date. In determining the present value of the liability, financing activities which are recoverable from, or payable to the tax estimates of attrition rates and pay increases through promotion and authority, are presented as operating cash flows. Commitments and inflation have been taken into account. contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. Current and non-current classification Assets and liabilities are presented in the statement of financial position based on current and non-current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the Club’s normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in the Club’s normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.

22 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED 2019 2018

$ $

NOTE 2: OTHER REVENUE FROM CONTINUING OPERATIONS Net Gain on the Sale of Non-Current Assets 2,666,108 825,019

Interest - Bank 113,610 319,905

Returns from Financial Investments 195,323 251,325

2,975,041 1,396,249

Accounting Policy Revenue Recognition Gaming machine revenue: Revenue is recognised when the significant risks and rewards have passed to the buyer and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Gaming revenue is recognised exclusive of GST. Interest revenue: Interest is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Rental income: Income arising from operating leases on investment properties is accounted for in revenue in the Statement of Comprehensive Income due to its operating nature. Where it has a material impact operating leases are accounted for on a straight-line basis over the lease terms. Sale of Goods (includes liquor and gaming machine revenue): Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Risks and rewards of ownership are considered passed to the buyer at the time of delivery of the goods to the customer. Other Revenue: Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Club and the revenue can be reliably measured.

2019 2018

$ $

NOTE 3: EXPENSES a) Depreciation & Impairment Losses

Property Plant and Equipment 5,620,940 4,761,437

Investment Properties 756,345 825,051

6,377,285 5,586,488

b) Borrowing Cost Expense

Interest 1,551,272 1,325,990

c) Non-Core Activities

Community Contributions 1,888,685 2,046,894

d) Operating Overheads

Indirect Trading Expenses 4,070,039 4,139,437

Administrative Expenses 7,511,957 7,484,150

Promotional Expenses 591,468 1,708,847

12,173,464 13,332,434

NOTE 4: CASH AND CASH EQUIVALENTS Cash at bank 1,095,177 1,242,199

Cash on hand 1,779,980 1,106,662

2,875,157 2,348,861

Accounting Policy Cash and cash equivalents includes cash on hand and in banks, and money market investments readily convertible to cash within 30 working days, net of outstanding bank overdrafts.

2018/2019 ANNUAL REPORT 23 NOTES TO THE FINANCIAL STATEMENTS (CONT)

2019 2018

$ $

NOTE 5: INCOME TAX The club is taxed according to the principle of mutuality. The charge for current income tax expense is based on the profit for the year adjusted for any non-assessable or disallowed items. It is calculated using tax rates that have been enacted or are substantively enacted by the Statement of Financial position face. Income tax is payable on that proportion of the income less expenses contributed by non-members. The aggregate amount of income tax attributable to the financial year differs from the amount prima facie payable on the operating surplus. The difference is reconciled as follows:

Income Statement Current income tax charge 62,413 (50,631) Tax losses utilised (62,413) 50,631 Deferred Income Tax Relating to the origination and reversal of temporary differences 1,109,068 - Recognition of carried forward tax losses (2,831,416) - Income tax expense reporting in the statement of comprehensive income (1,722,348) - Reconciliation of tax expense and the accounting profit multiplied by Australian domestic tax rate for the year ended:

Accounting profit/(loss) before income tax 1,681,419 151,858 At Australia’s statutory income tax rate of 30% 504,426 45,557 Non-deductible expenses for tax purposes 253,117 553,778 Non-assessable income for tax purposes (799,832) - Tax expense impact of asset reclassification (2,796,127) - Mutual expenses not deductible 342,610 (548,704) Utilisation of tax losses 62,413 (50,631) Adjustments in respect of deferred income tax in prior periods 3,604,874 - Adjustments in respect of tax and capital losses incurred in prior periods (2,893,829) - Income tax benefit (1,722,348) - Deferred Tax Asset * (i) Deferred Tax Asset

Property, plant and equipment 116,417 - Payables and Provisions 36,664 - Unutilised tax Losses 2,831,416 - 2,984,497 - (i) Deferred Tax Liabilities Investments (including shares and unit trusts)

Investment Properties (977,739) - Leasehold Buildings (197,288) - Property, plant and equipment (87,122) - (1,262,149) -

Deferred Tax Asset 1,722,348 -

* Management believe that deferred tax benefits previously not recognised by the Club are likely to be realised in the 2020 financial year as a result of the impending sale of the North Ryde apartments subsequent to year end.

24 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED NOTE 5: INCOME TAX (CONTINUED)

Accounting Policy Income Tax: Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the Australian Taxation Office. The tax rates and tax laws used to compute the amount are those that are enacted or substantially enacted by the reporting date. Deferred income tax is provided on all temporary differences at the reporting date between the tax base of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax assets are recognised for all deductible temporary differences, carry-forward of unused tax assets and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry-forward of unused tax credits and unused tax losses can be utilised. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit wilI be available to allow all or part of the deferred income tax asset to be utilised. Unrecognised deferred income tax assets are re­ assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will be available to allow all or part of the deferred income tax asset to be utilised.

2019 2018 $ $ NOTE 6: INVESTMENTS Shares listed on the Australian Stock Exchange 3,312,760 3,062,488 Term Deposit 3,277,308 5,696,550 Unit Trust Holding in Bunnings Belconnen Site 679,000 679,000 Unit Trust Holding in Lawley House Site 1,403,000 1,403,000 8,672,068 10,841,038

Represented by:

Current Asset 6,590,068 8,759,038 Non-Current Asset 2,082,000 2,082,000 8,672,068 10,841,038

Accounting Policy Shares listed on the Australian Stock Exchange are measured at fair value less any impairments. Unit trust holdings are listed at fair value, less any impairments. Term deposits include cash in banks, and money market convertible to cash within more than 30 working days, net of outstanding bank overdrafts.

2019 2018 $ $ NOTE 7: TRADE & OTHER RECEIVABLES Trade Debtors 568,987 1,028,481 QSCC Receivable* 28,904 533,328 Loan Receivable** 122,412 148,652 Loan Receivable*** 922,129 1,570,622 Deferred planning fee rebate recoverable 2,100,000 - 3,742,432 3,281,083

Represented by:

Current Asset 578,227 2,605,763 Non-Current Asset 3,164,205 675,320 3,742,432 3,281,083

* The above receivable is a cash advance to the Queanbeyan Sports & Community Club (QSCC). ** The above loan was made to the Vikings Fishing Club Inc. at a fixed rate of 6%pa (2018: 6%) and is secured by first mortgage and charge over the borrower’s assets. *** The above loan was made to the Queanbeyan Bowling Club Limited at a rate equal to the 6 month call deposit rate from the Commonwealth of Australia Bank plus 4% and was secured by first mortgage and charge over the borrower ‘s land. The Queanbeyan Bowling Club Limited has now amalgamated with the Queanbeyan Sports and Community Club.

2018/2019 ANNUAL REPORT 25 NOTES TO THE FINANCIAL STATEMENTS (CONT)

NOTE 7: TRADE & OTHER RECEIVABLES (CONTINUED)

Accounting Policy Trade receivables, which generally have 30 day terms, are recognised and carried at original invoice amount less any expected credit losses. Collectability of trade receivables is reviewed on an ongoing basis and individual debts that are likely to be uncollectible are written off when identified. Loans and receivables are not derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables are initially measured at fair value and subsequently at amortised cost using the effective interest rate method, less impairment.

2019 2018

$ $

NOTE 8: INVESTMENT PROPERTIES Investment Properties - at cost 7,270,474 38,245,414 Accumulated Depreciation (1,617,508) (2,523,883) 5,652,966 35,721,531

The Club's Investment Properties consist of three commercial properties within the A.C.T. being a suburban child care centre, a suburban medical centre and a suburban car wash.

Assets Held For Sale Assets Reclassified to Held for Sale 31,984,666 397,336

The Club expects to enter into a contract for sale of the North Ryde hotel in September 2019 with a forecast settlement in October 2019.

Operating Income derived from Investment Properties 928,219 3,442,248 Direct operating expenses from Investment Properties (123,357) (389,512) Profit arising from Investment Properties carried at fair value 804,862 3,052,736 Operating Income derived from Asset Held for Sale 2,674,152 16,227 Operating Overheads - Asset Held for Sale (48,371) (11,433) Profit arising from asset held for sale 2,625,781 4,794 Total operating Income derived from investment properties and assets held for sale 3,602,371 3,458,475 Total direct operating expenses from investment properties and assets held for sale (171,728) (400,945) 3,057,530 Total profit arising from investment properties and assets held for sale carried at fair value 3,430,643

Reconciliations of the carrying amounts of Investment Properties at the beginning and end of the current and previous financial year.

Carrying amount at start 35,721,531 Additions during year 2,672,446 Transfer to asset held for sale (31,984,666) Depreciation expense (756,345)

5,652,966

26 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED NOTE 8: INVESTMENT PROPERTIES (CONTINUED)

Accounting Policy Investment properties are measured initially at cost, including transaction costs. The carrying amount includes the cost of replacing part of an initial investment property at the time that cost is incurred if the recognition criteria are met and excludes the cost of day to day servicing of an investment property. Subsequent to initial recognition, investment properties are carried at cost less accumulated depreciation and any accumulated impairment losses. Investment properties are derecognised either when they have been disposed of or when the investment property is permanently withdrawn from use and no further economic benefit is expected from its disposal. Any gains or losses on the retirement or disposal of an investment property are recognised in the surplus or deficit in the year of retirement or disposal.

2019 2018

$ $

NOTE 9: PROPERTY, PLANT & EQUIPMENT

Leasehold Land - at cost 1,390,860 1,390,860 Leasehold Buildings - at cost 48,379,196 47,429,142 Accumulated Depreciation (15,163,786) (14,206,847) 33,215,410 33,222,295 Furniture & Fittings - at cost 4,529,246 6,208,236 Accumulated Depreciation (1,907,966) (5,011,381) 2,621,280 1,196,855 Plant & Equipment - at cost 8,304,169 16,305,808 Accumulated Depreciation (4,255,579) (11,786,956) 4,048,590 4,518,852 Poker Machines - at cost 19,225,712 28,796,183 Accumulated Depreciation (12,399,746) (21,312,273) 6,825,966 7,483,910 Kitchen Equipment - at cost 655,841 1,486,673 Accumulated Depreciation (320,625) (1,196,048) 335,216 290,625 Total Property, Plant & Equipment - at cost 82,485,024 101,616,902 Accumulated Depreciation (34,047,702) (53,513,505) 48,103,397 Total Written Down Value 48,437,322

Reconciliation Reconciliations of the carrying amounts of Property, Plant & Equipment at the beginning and end of the current and previous financial year.

Buildings & Leasehold Furniture & Plant & Poker Kitchen leasehold Total land fittings equipment machines equipment land Balance at the 1,390,860 33,222,295 1,196,855 4,518,852 7,483,910 290,625 beginning of the year 48,103,397

Additions - 950,054 2,149,113 360,143 2,459,160 108,649 6,027,119 Transfers to - - (72,254) - - - investment property (72,254)

Disposals ------Depreciation expense - (956,939) (652,434) (830,405) (3,117,104) (64,058) (5,620,940) Carrying amount at 1,390,860 33,215,410 2,621,280 4,048,590 6,825,966 335,216 48,437,322 the end of the year

2018/2019 ANNUAL REPORT 27 NOTES TO THE FINANCIAL STATEMENTS (CONT)

NOTE 9: PROPERTY, PLANT & EQUIPMENT (CONTINUED)

Accounting Policy Property, Plant & Equipment is carried at historical cost less accumulated depreciation and any accumulated impairment losses. Disposal: Any gain or loss on the disposal of assets is determined as the difference between the carrying value of the asset at the time of disposal and the proceeds from disposal, and is included in the results of the Club in the year of disposal. Impairment: Non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset’s fair value less costs of disposal and value-in-use. The value-in-use is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash ­generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash generating­ unit. Depreciation: is provided on a straight-line basis on all property, plant and equipment other than leasehold land. The rates below allocate the cost of the asset over its estimated useful life.

Buildings 50 years 2% per annum Furniture & Fittings 5 years 20% per annum Plant & Equipment 10 years 10% per annum Poker Machines 4 years 25% per annum Kitchen Equipment 10 years 10% per annum

2019 2018

$ $

NOTE 10: PAYABLES

Trade Creditors 145,393 540,919 GST Payable 209,545 158,320 Accrued Expenses 1,737,996 1,878,552 2,092,934 2,577,791

Represented by:

Current Asset 2,006,964 2,494,458 Non-Current Asset 85,970 83,333 2,092,934 2,577,791

Accounting Policy Liabilities for trade creditors and other payables are initially recognised at fair value being the transaction price and subsequently carried at amortised cost and due to their nature they are not discounted. They represent liabilities for goods and services provided to the Club prior to the end of the financial year that are unpaid and arise when the Club becomes obliged to make future payments in respect of the purchase of those goods and services. These amounts are unsecured and are usually paid within 30 days of recognition.

28 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED 2019 2018

$ $

NOTE 11: PROVISIONS

Provisions - Current Annual Leave 651,035 605,810 Long Service Leave 157,224 573,478 808,259 1,179,288

Provisions - Non-Current Long Service Leave 178,140 70,924 Make Good Provision 155,400 - 333,540 70,924

Accounting Policy Short-term employee benefits Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled. Other long-term employee benefits The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.

2019 2018

$ $

NOTE 12: INTEREST BEARING LIABILITIES 29,221,368 ANZ Bank - Commercial Bills 28,770,937 Represented by:

Current Liability 27,770,937 1,487,955 Non-Current Liability 1,000,000 27,733,413 28,770,937 29,221,368

* The property that is secured against this asset is due to be sold in the 2020 financial year, management intend to payout this loan upon finalisation of the sale.

Financing Facilities Available At balance date, the following financing facilities had been negotiated and were available.

Total Facilities Available at Reporting Date Contingencies/Credit Cards 340,000 185,000 Bank Overdraft 300,000 400,000 Bank Loans 28,770,937 29,221,368 29,410,937 29,806,368

Total Facilities Used at Reporting Date Bank Overdraft - - Bank Loans 28,770,937 29,221,368 28,770,937 29,221,368

Total Facilities Unused at Reporting Date Contingencies/Credit Card 340,000 185,000 Bank Overdraft facility 300,000 400,000 640,000 585,000

2018/2019 ANNUAL REPORT 29 NOTES TO THE FINANCIAL STATEMENTS (CONT)

NOTE 12: INTEREST BEARING LIABILITIES CONTINUED

Assets Pledged as Security The above facilities are secured by a floating charge held by the ANZ Bank over all the Club’s assets and undertakings. That bank also holds first mortgages over the land and buildings at the Chisholm, Erindale, Town Centre and Lanyon Club’s, the North Ryde apartments, the Medical Centre, the Car Wash and the Guardian Childcare Centre. Terms and Conditions of Bank Loan The facility arrangements for the above loan are reviewed annually. Forecasted principal repayments of $1,083,350 will be made over the next 12 months. Bank Loan Covenants There have been no breaches of loan covenants.

Accounting Policy Interest-bearing liabilities are initially recognised at the fair value of the consideration received less directly attributable transaction costs. After initial recognition, interest-bearing liabilities are subsequently measured at amortised cost using the effective interest method. Fees paid on the establishment of loan facilities that are yield related are included as part of the carrying amount of the loans and borrowing s. Interest-bearing liabilities are classified as current liabilities unless the Club has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. Borrowing Costs are expensed in the period they occur. They consist of interest and other costs incurred in connection with the borrowing of funds.

NOTE 13: CONTINGENT LIABILITIES The Club has guaranteed the ACTTAB $85,000 in respect of any shortfall in the Chisholm, Erindale, Town Centre or Lanyon clubs‘ TAB Facilities. ACTTAB is a wholly owned subsidiary of Tabcorp ACT Pty Ltd.

NOTE 14: REGISTER OF MEMBERS The Club’s membership register is kept at the Club’s Registered Office at 6 Ricardo Street, Wanniassa, ACT.

30 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED NOTE 15: RELATED PARTY DISCLOSURES Club Directors during the financial year were:

David Assenheim President Geoff Adam Director

Martyn O’Brien Vice-President Dean Browne Director

Timothy Hutchinson Executive Director David Paull Director

John McGrath Director Taryn Langdon Director

Peter Webb Director

Honorariums of $82,127 (2018: $75,002) were paid during the 2019 financial year. Directors and Officers Liability Insurance of $20,609.00 (2017/18: $15,499.30) was paid by the Club during the year.

Director/Director Related Entity Transactions As part of Mr Adam’s agreement with TVRUFC Inc., and in his duties as Rugby House Master, Mr Adam resides at a Club owned property in Monash where the market rent for this property would normally be $31,200 p.a. of which Mr Adam’s share would be $6,240 p.a. No rent is received from Mr Adam whilst residing in the property. Geoff Adam and John McGrath are also Directors of Queanbeyan Sports and Community Club.

2019 2018 $ $ NOTE 16: COMMITMENTS No later than 12 months 362,598 - Later than 12 months 1,562,482 - 1,925,080 -

NOTE 17: REMUNERATION OF KEY MANAGEMENT PERSONNEL Short-term employee benefits including superannuation. 936,240 979,266 These benefits were provided to the Chief Executive Officer, Group Operations Manager, Strategic Initiatives Manager and the Chief Financial Officer. Directors do not receive remuneration.

NOTE 18: SUBSEQUENT EVENTS The Club expects to enter into a contract for sale of the North Ryde hotel in September 2019 with a forecast settlement in October 2019. There are no other matters of any note arising subsequent to the financial year but before the adoption of this report.

2019 2018 $ $ NOTE 19: GROSS REVENUE - Section 158 Gaming Machine Act 2004 (ACT) Chisholm Sports Club 4,866,300 5,020,079 Tuggeranong Valley Rugby Union and Sports Club 7,838,304 7,301,637 Town Centre Sports Club 6,931,465 7,645,706 Lanyon Valley Rugby Union and Amateur Sports Club 4,479,149 4,720,217 24,115,218 24,687,639

2018/2019 ANNUAL REPORT 31 NOTES TO THE FINANCIAL STATEMENTS (CONT)

1. ARRANGEMENTS WITH “INFLUENTIAL PERSONS” (Sections 7(1)(a) and 54(a) Gaming Machine Act 2004) The Club has written employment contracts, on normal commercial terms, with senior management. There are no contracts or arrangements with directors, other than those disclosed in Note 15 of the Financial Report.

2. CONTRACTS OVER $99,999 Including GST (Section 54(aa) Gaming Machine Act 2004) ACTEWAGL Gas & Electricity AMA PROJECTS Building Services AON PROFESSIONAL SERVICES Insurance ARISTOCRAT TECHNOLOGIES Gaming Machines ARUZE GAMING AUSTRALIA PTY LTD Gaming Machines ASAHI PREMIUM BEVERAGES Food & Beverage AUSCAN SOLUTIONS PTY LTD Repairs & Maintenance AUSTRALIAN LIQUOR MARKETERS Food & Beverage AUSTRALIA NATIONAL UNIVERSITY Lease Payments BENMAX SERVICES Building Services BIDFOOD CANBERRA Food & Beverage BUNZL CATERING Consumables CANBERRA FACILITIES MANAGEMENT Repairs & Maintenance CLEAN MASTER SERVICES Cleaning COCA COLA AMATIL(AUST) P/L Food & Beverage COOL CHILLI PTY LTD IT Services DAILY PRESS PTY LTD Advertising DESIGN GROUP NSW PTY LTD Building Services ETS COMMERCIAL REFRIGERATION Repairs & Maintenance FM PROJECTS AUSTRALIA Building Services FOSTERS AUSTRALIA LIMITED Food & Beverage IGT (AUSTRALIA) PTY LTD Gaming Machines INFINITE NETWORKS PTY LTD Phone/IT Services JOHN POMAZAK Building Services MDM ELECTRICAL SERVICES PTY LTD Repairs & Maintenance NATIONAL CAPITAL GUARDS PTY Security Services ROBERT OATLEY VINEYANRDS PTY LTD Food & Beverages RPSPM PTY LTD Building Services SG GAMING ANZ PTY LTD Gaming Machine TELSTRA Phone/IT Services

32 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED 3. REMUNERATION OVER $150,000 (Section 54(b) Gaming Machine Act 2004) The number of employees receiving remuneration in excess of $150,000 was five.

4. BENEFITS (Section 54(d) Gaming Machine Act 2004)

Benefit Value $ Position Purpose Provider of Benefit Christmas Gifts 600 Directors/Managers Christmas Gifts TVRU & SC Ltd and Suppliers Rugby Match 1,900 4 Directors/ 4 Staff Sponsors Networking Trip to Darwin 4,000 2 Senior Managers Industry Networking Carlton United Breweries

2018/2019 ANNUAL REPORT 33 ERINDALE CHISHOLM VIKINGS VIKINGS

02 6121 2100 02 6209 0200 6 Ricardo Street, Wanniassa ACT 2903 Benham Street, Chisholm ACT 2905 Sunday-Thursday 10am–1am Sunday-Tuesday 10am –12am Friday-Saturday 10am–4am Wednesday 10am - 1am Thursday-Saturday 10am – 2am

THE COOKERY BISTRO & GRILL CHISHOLM 02 6121 2116 BISTRO Lunch Monday-Sunday 12noon–2pm 02 6209 0200 Dinner Monday-Sunday 6pm–9pm Lunch Monday-Sunday 12noon–2pm Dinner Sunday-Monday 6pm–9pm

BRICK & BASIL 02 6121 2120 Lunch Wednesday-Sunday 12noon–2pm Dinner Wednesday-Sunday 6pm–9pm

VIKINGS 24/7 FITNESS 02 6231 6597 Open 24/7 Staffed hours; Monday & Wednesday 6am-2pm & 3pm-7.30pm Tuesday & Thursday 9.30am-2pm & 3pm-7.30pm Friday 6am-11am Saturday 9am-12noon

34 TUGGERANONG VALLEY RUGBY UNION AND SPORTS CLUB LIMITED TOWN LANYON CENTRE VIKINGS

02 6200 8400 VIKINGS Heidelberg Street, Conder Sunday-Wednesday 10am–1am 02 6208 6300 Thursday-Saturday 10am–3am Cnr. Athllon Drive & Rowland Rees Crescent, Greenway ACT 2900 RED ROCK Monday-Sunday 10am–4am BISTRO

02 6200 8406 BAAMOO Lunch Monday-Sunday 12noon–2pm BISTRO & GRILL Dinner Monday-Sunday 6pm–9pm 02 6208 6307 Lunch Monday-Sunday 12noon–2pm Dinner Sunday-Wednesday 6pm–8:30pm Thursday-Saturday 6pm–9pm

2018/2019 ANNUAL REPORT 35 VIKINGS.COM.AU