2018 Western Bulldogs Annual Report
2018 FINANCIAL REPORT Footscray Football Club Limited trading as Western Bulldogs and controlled entity ABN 68 005 226 595 Consolidated Financial Report For the year ended 31 October 2018 This page has been left blank intentionally. TABLE OF CONTENTS Directors’ report 4 – 16 Auditor’s independence declaration 17 Financial report Consolidated statement of comprehensive income 18 Consolidated statement of financial position 19 Consolidated statement of changes in equity 20 Consolidated statement of cash flows 21 Notes to financial statements 22 – 39 Directors’ declaration 40 Independent auditor’s report 41 – 42 FOOTSCRAY FOOTBALL CLUB LIMITED TRADING AS WESTERN BULLDOGS AND CONTROLLED ENTITY ABN 68 005 226 595 DIRECTORS’ REPORT Club Performance In 2018, the Western Bulldogs reported a total profit of $18,094,333. The result comprises a Profit before Redevelopment Activities of $2,207,274 (up from $1,643,050 in 2017) and a Profit from Redevelopment Activities of $15,887,059 (Nil in 2017). Profit from Redevelopment Activities is derived from the recognition in the Club’s accounts of the value of the freehold land assigned to the Club by the State of Victoria at the Western Oval precinct, income from redevelopment grant income received for the upgrade of the Whitten Oval facilities for AFLW and includes various items of expenditure relating to Redevelopment Activities as defined in the financial statements. This is obviously the biggest profit in the history of the Club and elevates the net assets of the Club to a total of $45,804,532, making the club by that measure (and again for the first time in its history) one of the wealthiest Clubs in the AFL.
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