2013-14 Richmond Club Annual Report

R I C H M O N DC L U B

A N N U A L R E P O R T 2 0 1 3 - 1 4

A C O M M U N I T YM O V I N G F O R W A R D

2 Community HeartAnnual Report 2014 C O N T E N T S

3. N O T I C E O F A N N U A L G E N E R A L

M E E T I N G ( A G M )

4. O U R M I S S I O N , M A N T R A & P R I N C I P L E

5. A B O U T T H I S R E P O R T

6. O R G A N I S A T I O N P R O F I L E

8. C H A I R M A N ’ S R E P O R T

9. C E O ’ S R E P O R T

10. O U R H I S T O R Y

12. M E M B E R S

13. S T A K E H O L D E R S

16. R I C H M O N D C L U B

27. H A W K E S B U R Y L I V I N G

32. R I C H M O N D G O L F C L U B

36. O U R P E O P L E

41. O U R E N V I R O N M E N T A L I M P A C T

43. G O V E R N A N C E

44. F I N A N C I A L R E P O R T

C O N T E N T S

3 Community HeartAnnual Report 2014 N O T I C E O F A G M

N O T I C E O F A N N U A L G E N E R A L M E E T I N G ( A G M )

NOTICE is hereby given that the Annual General Meeting of the RICHMOND CLUB LIMITED for the financial year ended 30 June 2014 will be held on 25 February 2015 commencing at the hour of 8:00 pm at the premises of the Club, Cnr Frances & East Market Streets, Richmond, New South Wales.

BUSINESS

1. To confirm the minutes of the 41st Annual General Meeting of the Richmond Club held on Wednesday 20 November 2013.2. To receive and consider the reports of the Board of Directors for the year ended 30 June 2014.3. To receive and consider the Financial Statements, Directors’ Report and Auditor’s Report for the year ended 30 June 2014.4. To consider and if thought fit pass the First Ordinary Resolution set out in this Notice to declare 25 Woodlands Road, Wilberforce as non-core property of the Club.5. To consider and if thought fit pass the Second Ordinary Resolution set out in this Notice in relation to directors’ expenses.6. To deal with any other general business that the meeting may deal with without notice to the members of that business.

DELAY IN HOLDING ANNUAL GENERAL MEETING

The Annual General Meeting of the Club is usually held in November in each year. Unfortunately due to significant administrative difficulties in relation to the Club’s accounts and records, and the finalisation of the liquidation of the Richmond Golf Club Limited, the Club has been unable to finalise the annual accounts in time to hold the Annual General Meeting at the normal time of year. On application by the Club, the Australian Securities and Investments Commission (ASIC) has extended the time for the Club to hold its Annual General Meeting to 25 February 2015. The Board and Management of the Club regret these circumstances and apologise for any inconvenience or concern that may have been caused by this delay.

QUESTIONS FOR ANNUAL GENERAL MEETING

Members are asked to submit to the Club any questions they may have regarding the Financial Statements, Director’s Report and Auditor’s Report for the financial year ended 30 June 2014 at least seven (7) days prior to the date of the Annual General Meeting to allow the Club time to prepare a response. If your question is not submitted by this time, it may not be possible to answer your question at the meeting.

4 Community HeartAnnual Report 2014

O U R M I S S I O N ,M A N T R A &P R I N C I P L E S

OUR MISSION

To provide excellent amenities, services and hospitality that meets the changing needs of our members and guests to promote strong growth.

OUR MANTRA

To meet our members needs through everything we do. There is always...a place for you.

OUR PRINCIPLES

Our values reflect the way our employees behave towards our members, residents, clients, colleagues and the community.Our business is underpinned by the principles of Triple Bottom Line. While others worry about the singular idea of profit, we expect more and always aim for a healthy balance – integrating the needs of people, planet and profit. Our Board adhere to and perform to industry KPI’s that ensure our strategies and your club is operated sustainably.

We remain transparent to you, our members, providing absolute clarity as to where money is spent in terms of our community commitment and the risk mitigation strategies defined at the Board level.

With an ongoing adherence to GRI reporting, we aim to create an enhanced and integrated standard of reporting that embodies these principles.

OUR VALUES

Responsibility: We act withresponsibility. We respond to the needs of the people who create our community. We connect the things we do for them with intelligence, inspiration and a passion for connected living.

Constant: We are the communityconstant. We create the heart of our community that is always there as a friendly reminder of where we come from, where we are going and what we have to be proud of.

Positivity: We embrace positiveliving. We understand that what we create together to support the life of others liberates the opportunity we have to create pivotal sustainable change in our community, for our business and for each other.

O U R M I S S I O N , M A N T R A & P R I N C I P L E S

5 Community HeartAnnual Report 2014 A B O U T T H I S R E P O R T

This is Richmond Club Group’s integrated annual

report, documenting our performance for the period from 1 July 2013

to 30 June 2014. It is the fourth report released under the guidance of the Global Reporting

Initiative (GRI).

A B O U TT H I S R E P O R T

Prior reports are available online at www.richmondclub.com.au or onsite at Richmond Club, 6 East Market Street, Richmond NSW.

We have compiled this report in accordance with the ‘Core’ criteria of the G4 guidelines released in May 2013 by GRI, which means that we have reported the essential elements of our organisation’s impacts and performance. It is our aim that members, industry partners and other stakeholders will be able to see the effects of our operations, the way we create value in the Hawkesbury community, and our goals and future challenges through this report.

This report is the primary way in which we communicate our progress on these aims to our stakeholders. All information in this report reflects the performance in the 2013-14 financial year, unless otherwise marked.

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Through our principles and values, we fully support the concept of sustainability and aim for a balance of people, planet and profit in all of our operations. We are aligned with the objectives of GRI and have been an Organisational Stakeholder since 2011.

During this reporting period, we have not pursued independent assurance of our reporting process. In future reports, we intend to revisit this policy and obtain external verification to improve our transparency.

The full GRI index for this report can be found online on our website: www.richmondclub.com.au/annualreport.

R I C H M O N D G O L F C L U BE S TA B L I S H E D 1 8 9 7

- Amalgamated with Richmond Club in 2013.- The oldest golf course on its original site in NSW.- Home of the Coca-Cola Australian Seniors PGA Championship.

Richmond Golf Club is located on Bourke Street and features an 18 hole course, clubhouse and Pro Shop facilities.

R I C H M O N D A T A G L A N C E ( 2 0 1 1 C E N S U S )P O P U L AT I O N : 5 , 2 74M E D I A N A G E : 4 0M E D I A N H O U S E H O L D I N C O M E : $ 9 5 0AV E R A G E H O U S E H O L D S I Z E : 2 . 1 P E R S O N SP E R S O N S I N N E E D O F A S S I S TA N C E : 5 2 9 ( 1 0 % )

W A N D E R E S TE S TA B L I S H E D 2 0 1 0

Unique visits this year: 2293

Located on the grounds of Richmond Club, Wanderest offers club members free access for caravans and motor homes for up to four nights stay.

O R G A N I S A T I O N P R O F I L E

R I C H M O N D C L U BE S TA B L I S H E D 1 9 4 7

- Members: 17420- Employees: 169- Community Groups Supported: 197

Richmond Club is the Hawkesbury’s leading registered club. From our beginnings as a small group of WWIIex-servicemen, we have grown to be a valued community partner across a wide range of services.

The registered club on East Market Street is home to dining, function and entertainment facilities, Active 8 Fitness centre and Amber Style and Beauty Salon.

H A W K E S B U R Y L I V I N GE S TA B L I S H E D 2 0 0 5

- Founded as Richmond Community and RSL Nursing Home in the 1950’s- Number of Beds: 100- Employees: 121- DA submitted for an extension of the facility

to 138 beds.

Hawkesbury Living is a subsidiary company of Richmond Club and operates an aged care facility of 100 beds on March St. The facility also has a specialised memory care and dementia unit, and the adjacent Norman Court retirement units.


C H A I R M A N ’ SR E P O R T

Dear Members,

I am pleased to present to you the Richmond Club Group Annual Report and financial statements for the year ended 30 June 2014. As in previous years, this report contains detailed information on our economic, social and environmental performance across all sites, in line with the international standards of reporting outlined by the Global Reporting Initiative (GRI). The adoption of these documents will take place at the Annual General Meeting to be held on Wednesday 25 February 2015, commencing at 8.00pm.

I would like to briefly reiterate the reasons behind the delay in the Annual Report and AGM, as I reiterated in my previous report to the membership. Our decision to postpone the AGM was deemed necessary to ensure the accuracy of the information presented to our members. Unfortunately, due to factors beyond our control, namely a change in accounting systems and the amalgamation with Richmond Golf Club, this could not have been completed in the normal timeframes. As demonstrated by our ongoing commitment to sustainability reporting with GRI, we are committed to being transparent in our operations, and with an extension from ASIC, have completed this for the AGM.

With this in mind, the Group has recorded a consolidated loss after income tax of $338,401. During this period we maintained our level of community support, assisting over 150 community groups with financial and in-kind support.

Responding to the challenges faced this year and feedback from members, the Board, CEO and I have returned our focus to the core of our operations, the main club. After a long period of diversification, Hawkesbury Living is now operating efficiently and Richmond Golf Club is showing signs of stabilising. At the same time, increased competition in an area of traditionally static growth has in some ways required us to review this essential area of our business.

We still remain committed to the growth of tourism in the Hawkesbury, despite the disappointing loss of the rights to the International Sand Sculpting Championship this year. In 2013-14 we put our best foot forward in hosting the Coca-Cola Australian Seniors PGA Championship at Richmond Golf Club. This event has put the spotlight not only on the excellent golf course at Richmond (which was commended by the Pros and sponsors alike), but also the local community and golf in the Hawkesbury in general. The event creates great exposure for the golf courses in the region, and a solid foundation for local businesses to promote themselves to prospective visitors. Combined with the Hawkesbury Golf initiative that was launched in 2013, it is a positive step towards sustainable economic growth in the area through tourism.

I am also pleased to note that the final DA for the extension for Hawkesbury Living was submitted this year, meaning that Hawkesbury Living can provide a range of additional services to what it currently does, plus 36 new beds to assist with the ever growing demand for aged care. Over the past nine years, the Board and I have encouraged our Executive

Management team to pursue models of aged care internationally to ensure the services brought to the Hawkesbury are of the highest quality and the most beneficial to the community as possible. The development of this extension to Hawkesbury Living means that our compete vision for our club to provide aged care services will come to fruition.

As always, the Board and I reserve our sincere thanks and appreciation to Kimberley and the management team for their ongoing efforts throughout this very difficult year for the Group. We are confident that with the outstanding team we now have, we will be able to navigate the challenges placed before us and look forward to the highlights ahead. A special thank you must go to Ric Simpson, who has worked extremely hard to get the Group’s fiscal reporting back to above industry standards.

I would like to take this opportunity to extend the Board’s sincere condolences to members who have lost loved ones throughout the past year.

I also express my appreciation to my fellow Board members, whose passion and initiative for this community is unmatched.

Kind Regards,

Geoff LuscombeChairman


C E O ’ SR E P O R T

Dear Members,

I am pleased to present to you the Richmond Club Group’s Annual Report for 2013-14, which contains our organisation’s sustainability and financial performance over the 12 months ending 30 June 2014. I would like to thank you for your continued patience during this period, as there have been a number of challenges we have had to face this year, which have been outlined in the AGM Notice to Members. Our Chairman will also discuss these circumstances in more detail in his report.

It is no secret that our organisation and the registered clubs industry are operating under difficult conditions. After some recovery from clubs following the Global Financial Crisis, growth in the industry is forecast to slow considerably in the near future as an uncertain regulatory environment and increased competition from pubs and casinos take their toll. Over the 5 years until 2017-18, revenue is expected to increase by an average of only 1% per year. Little growth in household disposable income also means that money spent on entertainment and recreation is remaining static. In addition to this we now have strong competition that operates in a low socio-economic area of the Hawkesbury.

In the Hawkesbury, we are experiencing the same conditions. As population growth in the area has only reached 2.0% in the past ten years, more venues and services are competing over the same number of people. There is cause for optimism however, as the Western Sydney region is projected to increase employment by 1.4% annually, and increased infrastructure such as

the second Sydney airport is also encouraging for the region.

This past year we have been concentrating on condensing our assistance in the community and giving our members a fresh and revived club, and at this stage I believe that the members have communicated their appreciation for these changes. With change sometimes comes resistance and in that regard I am sorry that our Administration department needed to be assessed and restructuring had to occur. This was not conducted alone as the structure was based on a model of another highly successful club, and we are now testament to embracing change.

We have some other areas to consider, but we are currently streamlining our operations in order to achieve a positive bottom line and an improved EBITDA. This need to streamline has not been the result of poor management but rather from experiencing the trends of our respective industries.

In 2015 our valued members will see further works carried out on the clubhouse, however to do this in the current economic environment the Board required an independent assessment of the club’s finances and audit procedures. This has been carried out with extreme professionalism by Ric Simpson and I personally would like to thank him and the rest of the team for assisting myself and the Board in delivering the 2013/14 accounts. I know that the path this fiscal year will be much smoother thanks to this audit process and review of our previously ageing practices in the finance department.

I would like to take this opportunity to thank the management team and staff across all areas of the organisation for their hard work during this challenging year. My appreciation also extends to the Board of Directors, who volunteer their time and expertise beyond what is required to ensure that this club and the Hawkesbury region are prosperous and successful. It is an honour to be able to work with them for the betterment of the community.

Finally, I would like to thank our members, patrons, residents and their families for your support this year. I now strongly believe that we have overcome the difficulties faced this year and the Group can look forward to 2015 and beyond with optimism.

Kindest Regards,

Kimberley TalbotGroup CEORichmond Club, Hawkesbury Livingand Richmond Golf Club Ltd


O U R H I S T O R Y

H I S T O R Y T I M E L I N E

1897Golf is first played inthe district by a groupof 11 players on theRichmond Common.The Richmond Golf Clubwas officially formed in1899 with 17 gentlemenand 10 lady members.

1916The Golf Clubgoes into recess dueto the First World Warand a War Barracksis built on the siteof the modern dayclubhouse. The clubremains dormantfor the next 12 years.

1942After a period ofsuccess in the 1930’s,the golf club is again hit bywar, as the clubhouseburns to the groundwhile being used tohouse American soldiersduring the SecondWorld War.

1947After identifying theneeds of ex-servicemenin the Hawkesbury,the inaugural meetingof the Richmond Ex-Servicemen’s Club isheld on May 16 at theDrill Hall on BosworthSt, Richmond.

1949The Richmond MemorialMen’s Bowling Club is formed.

Early 1950’sConstant floodingmakes the Golf Clubimpossible to maintain,and it is again closedfor a short time.

1957Richmond Communityand RSL NursingHome is founded.

1959The RichmondMemorial LadiesBowling Clubis formed.Extensions to theclubhouse and golfcourse at RichmondGolf Club arecompleted, and the18 hole course isofficially opened.

1968Extensions tothe RichmondEx-Servicemen’sclubhouse arecompleted at acost of $250,000.


1981Norman CourtRetirement Unitsare officially opened,with further extensionsto follow.

1983Plans to relocate theNursing Home to itscurrent location onMarch St are approved.

Early 1990’sRichmondEx-Servicemen’s Clubdonates 88 acres ofland to the communityfor the developmentof the Benson’s LaneSporting Complex.

1991The new RichmondCommunity andRSL Nursing Homeis officially opened.

1996Extensions begin onRichmond Club and arecompleted in October.

1998The new clubhouseis handed over to thecommunity and isrenamed to RichmondClub Limited, with‘Remembering Ex-Servicemen’ in its title.

2005It is proposed that theNursing Home mergewith Richmond Clubto counter increasinglosses. Richmond Clubacquires the NursingHome and forms itssubsidiary company,Hawkesbury Living.Active8 Gymnasiumis opened.

2007An extension of12 beds is approvedfor Hawkesbury Living.

2009Hawkesbury LivingCancer Trust is formedto deliver much neededoncology services tothe Hawkesbury.

2010Wanderest conceptis developed andlaunched in October toincrease tourism locally.

2011Magnolia Place,a specialised memorycare wing ofHawkesbury Living,is officially openedin February. A further33 bed extension ofHawkesbury Livingis also approved.

2012/13Both RichmondClub and RichmondGolf Club membersunanimously approveto amalgamate thetwo clubs in May 2012.The amalgamation was completed on July 30, 2013.


F O U N D I N G / L I F E M E M B E R S

A C K N O W L E D G I N G O U RP A T R O N S & L I F E M E M B E R S

M E M B E R S

The vision of building a place to meet and greet after the war was our founding digger’s priority, but just as important was the need to build a community hospital/nursing home. We thank and acknowledge these men for our club that has helped develop the Hawkesbury into the wonderful place that it is today.

Life Membership is an honour given to an Ordinary Member who has rendered outstanding service to the Club. To be eligible for Life Membership an Ordinary Member must be nominated by one Ordinary Member and seconded by another. The nomination is then forwarded to the Board of the club for approval. If a nomination is approved by the Board the nomination shall be referred to in the next General Meeting of the Club, if the nomination is then approved at the General Meeting the person nominated shall become a Life Member.

Reg Torr

Herb Hill

Phil Luscombe

Ces Dews Jnr

Frank Clerke

Dave Nelson

Harry Kershaw

Sir Phillip Charley

N Cuddleford

Ray Kilpatrick

Col Bray

1961 RW Moore

1963 JS Clerke

1966 E Moore

1967 E Mahon

1968 VH Plunkett

1969 PC Luscombe

1971 AJ Sherriff

1973 CW Chalmers

1976 DW McEwan

Duffy Phipps

Ken Luscombe

Ces Dews Snr

Eric Moore

Syd Clerke

Bertie Woodhill

Harry Braithwaite

Stewart Earle

A Nelson

Eric Bray

Maurie Ryan

1989 D Packer

1996 RL Larven

2001 DW Wise

2009 KS Luscombe

2009 CM Dews

2009 GC Luscombe

2011 PS Clerke

2011 D Luscombe


G O A L S

G O A L S

Guiding our sustainable development over the past two reporting periods have been the following set of objectives, identified by our stakeholders and refined by our Executive Management and Sustainability Committee:

Our VisionThat there is recognition from government, industry and community of our approach and performance towards economic, environmental and social sustainability.

We pursue best practice industry benchmarks in all that we do, and work to integrate elements of sustainability into our business, operations, and interaction with the community. Our influence as a major employer in the Hawkesbury helps stimulate the local economy and publicly commit to improved resource management. We are delivering quality infrastructure solutions to community issues and continue to promote social inclusion amongst our members.

All members and staff are aware of our performance and our responsibility towards sustainable development. Their personal contribution encourages a ‘whole of organisation’ approach. Our engagement with local community partners continues to grow and influence sustainable practice outside the confines of our own business.

Sustainability Management, Governance & Engagement• To develop a ‘whole of organisation’ approach to sustainable practice through encouraging contributions from staff, members and the community;• Building partnerships with external organisations to further our progress and influence with regard to sustainability;• Integrating sustainability targets into strategic decision making at Board and management level;• Recognition by industry and community as showing best practice in sustainability performance.

Social and Community• Working with community partners and government to develop solutions to local health and infrastructure issues, such as oncology services and social housing;• Active contribution to the preservation of the Hawkesbury’s heritage and community assets;• Recognition as an employer that values diversity, respect and integrity amongst its staff and encourages them to pursue career development opportunities;• To encourage social inclusion amongst our members and residents, and developing ways for people at risk of isolation to reconnect with the community.

Environment &Resource Use• To reduce our peak energy usage (in 2007-2008) by 10% over a 6 year period (by 2013-14);• To maintain our status as a low water user and move towards best practice (20L/customer(patron)/ day), and to decrease our reliance on town water;• To determine greenhouse output and develop strategies to reduce emissions;

Economic &Supply Chain• Engagement with our suppliers to screen against poor social and environmental practice, and to develop ways to improve performance in these areas;• Stimulation of the local economy through each area of our operations, and particularly through promoting local tourism, working with community business groups, and increasing our use of locally based suppliers;• Continued sustainable growth through sound strategic decision making at a management and Board level;


S T A K E H O L D E R S /M A T E R I A L I T Y

T A K E H O L D E R S / M A T E R I A L I T Y

Our Stakeholders can be defined as the group of individuals and organisations that are affected by our operations and those who have an impact on our future growth and operation. Due to the diverse nature of our operating activities, each group has a unique set of needs that must be approached individually. Listed below are a number of these stakeholders and the methods in which we have engaged with them during the previous year.

Stakeholders in our Operations Engagement 20t12-13MembersOur members form the basis of our operations and

want to be involved in an organisation that is giving

back to the community.

Quarterly Magazine, Community Heart

Member’s Forums

Direct Consultation (Face to Face, Mail)

Strategic Feedback Forms

Website: www.richmondclub.com.au

Social Media: Facebook

Local Press

Competitor Analysis

StaffOur staff have shown a strong interest in sustainability

issues. They want to develop their skills to increase

their employability.

Staff Meetings


Staff Workshops

Induction

Representation on internal committees

Staff Newsletter

OH&S Committee

Residents and their FamiliesHawkesbury Living’s residents and their families re-

quire a caring, inclusive environment and a connection

to the community.

Residents Meetings – weekly

Hawkesbury Living Newsletter - monthly

Focus Groups - quarterly

Direct Consultation - daily

Visitors and GuestsWe strive to create a welcoming atmosphere for our

visitors and guests.


Local Press


Industry Magazines Strategic Feedback Forms


Our CommunityWe engage our community on key social, economic

and environmental issues. We are expected to lead by

example by the community


Local Press


Local Business Forums

Involvement with local organisations (HHART,

Hawkesbury Chamber of Commerce)

Supply ChainOur suppliers provide us goods and services that can

have a direct impact on environmental and social

sustainability. We must work with them to provide

innovative solutions to these issues.

Meetings with key suppliers

Audit on Supply Chain’s OHS and Human Rights

Standards

Local Business Forums

Peak BodiesWe are connected to a network of over 1400 registered clubs in NSW that impact the way our industry operates.

Directors Attendance at Peak Body Events

Entry into ClubsNSW Awards

Meeting with Key Industry Partners

Cluster Meetings/Zone Meetings

15 Community HeartAnnual Report 2014 O U R A P P R O A C H T O M A T E R I A L I T Y

GRI defines materiality as being topics that ‘reflect the organisation’s significant economic, environmental and social impacts, or that would substantively influence the assessments and decisions of stakeholders.’

As an organisation operating within the hospitality, services and aged care industries, our material issues have remained similar since we began reporting four years ago. Our scope has also remained on our local community during this period, which also contributes to the consistency of our reporting.

The initial set of material aspects were decided by the organisation’s Sustainability Committee in 2011, and since then has been revisited and refined each year following feedback

from our stakeholders. This year saw no significant changes to the material issues identified by our stakeholders, however there was discussion surrounding how the report is structured and presented.

Our stakeholders suggested that this report should focus on presenting information in a concise, focused and practical way, to ensure that it has ongoing value for as many groups as possible. We also noted that the majority of our organisation’s value in the community can be identified as social capital (that is, it impacts our community and residents) and subsequently our report reflects this. External stakeholders want to know what we are giving back to the community and what our role is in the Hawkesbury. Internal stakeholders, including employees,

are more focussed on employment opportunities, training, and working for an organisation that is ‘making a difference’.

The structure of our report has also been altered following feedback, highlighting that each area of the Group has its own distinct set of impacts and objectives while also being closely connected.

We have used the G4 materiality process to consider which aspects and indicators are related to value creation in our organisation and whether this happens internally or externally.

An outline of the material issues identified can be found below:

O U R A P P R O A C HT O M A T E R I A L I T Y

Aspect Key Issues Boundary

Community

Social Inclusion, maintaining community

assets, supporting local organisations,

assessing members’ needs.

All stakeholders

Infrastructure

Oncology, Aged Care (High Care, Low

Care, Memory Care), Golf, Affordable

Housing

Priority for external stakeholders

Employment

Respect and Integrity, Communication,

Training and Education, Employment

Opportunities

Priority for internal stakeholders

Economy Sound financial management All stakeholders


R I C H M O N D C L U B

In 2013-14, we continued to deliver exceptional service, support and

facilities to our members and the wider Hawkesbury

community despite significant challenges

thrown our way.

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A P P R O A C H &R E V I E W

This financial year saw increased economic hardships on households that have been felt for a number of years. As a service industry, this has put significant strain on our bottom line as disposable income is reduced for these families. The clubs industry is in a period of decline, and is relying more on innovation, diversification, and maintaining exceptional service within the core business to ensure their ongoing sustainability. For us in particular, increased competition in the Hawkesbury (traditionally an area with very little growth) is also something that we must closely monitor.

Despite this, we remain committed to putting the needs of our members and the community first. This means that we are continuing to provide support to local sporting clubs, interest groups and charities wherever possible. It also means that we are continually looking at ways we can support the local community though lobbying and development of better infrastructure. In this light, we were delighted to once again be named as a finalist in the ClubsNSW Clubs and Community Awards for outstanding contributions to our localarea.

Western Sydney has a very positive growth outlook for the future, with employment growth rates increasing and encouraging signs from the State Government to improve infrastructure. Our aim is to tap into this optimism as we look to grow the organisation.

We have paid close attention to our core business in 2013-14, refurbishing a number of areas of the club, including the main lounge and gaming area, and have reviewed plans for a consolidated outdoor area that will be completed in the upcoming financial year. After close review and consideration of the economic challenges we face, it has been decided that this is the best way to improve our services to the membership while allowing scope for further development in the future.



ACTIVE8

Since its establishment in 2005, Active8 has become the Hawkesbury’s leading fitness centre, with the aim of promoting positive health and lifestyle choices to all people of the Hawkesbury, regardless of age, experience or fitness level. Recognising the need to combat a rising obesity rate in today’s society and the health risks associated with it, the gym has appealed to a diverse range of clients and broadened the scope of the club’s community services.

Today, Active8 continues to provide to the Hawkesbury’s residents in a number of ways. Due to the composition of our membership and the needs of the community, there is a special emphasis and provision of services to seniors, the disabled and children.

To combat the rise in competitors in the Hawkesbury, we have focused on creating a positive culture and sense of community amongst our members, and continued to do what Active8 is renowned for – personalised and professional service for all people in the community.

Part of Active8’s goal in the community is the fostering of social inclusion and encouragement of an active and healthy lifestyle amongst our clients. Various fundraising and social events, such as the participation in the City2Surf and Relay for Life, The Golden Barbells Awards Night and Mud Run create an inclusive atmosphere that has been considered highly successful by our members and staff alike.

WANDEREST

Almost four years after opening, Wanderest Travellers’ Park is continues to show outstanding popularity and growth.

With sites being booked weeks in advance and demand far outstripping supply, it is clear that the free travellers’ park is at the centre of the tourist boom in the Hawkesbury.

Most notably, the number of nights stayed at the park has doubled in the past twelve months. While traditionally the Hawkesbury has always been a thoroughfare between the much bigger tourist areas of Sydney and the Blue Mountains, travellers are extending their stays here to see what Richmond, Windsor and their surrounds have to offer.

For many visitors, it is an escape from the hustle and bustle of city life, an opportunity to slow down and recharge without the need to travel a great distance. For others, it is a pit stop on a trip around NSW and Australia.

The growth is in line with the park’s original vision, which was driven by a desire to showcase the beautiful Hawkesbury region to the passing traveller. As a free stay park, it has also helped the Hawkesbury region to embrace local tourism and to work with businesses in the community to embrace travellers and connect to our region. Patrons are simply required to be a financial member to use the facility.

Revenue raised directly cannot be monitored since Wanderest is a free stay traveller’s park. However, the park recorded 2393 unique visits in 2014, and over 4750 nights stayed, an increase of 13% than in 2013.



AMBER STYLE & BEAUTY

Amber Style and Beauty is leading the industry with hair, beauty and makeup in the Hawkesbury, without the expensive costs associated with your typical salon visit.

The club’s hairdressing salon was previously occupied by two different lessees. After careful consideration, the Board of Directors decided to incorporate the hairdressers into the club’s total operations. Amber Style and Beauty follows a number of other initiatives that Richmond Club has diversified into, the most notable being Active8.

With a talented team , the salon features an impressive range of hair styling and beauty services; body, facial, waxing and massage treatments. The salon is built on the same level of quality and service that members expect throughout the club. And with an unstable economy and budgets tightening, low and competitive pricing means that all members have access to the range of services offered.

They proudly stock salon only products from leading hair care companies such as Dermalogica and De Lorenzo, as well as Napoleon Perdis NP Set makeup, Ardell lashes, Limelilly makeup and OPI nail care for all your beauty needs.



RESPONSIBLE CONDUCT OF GAMING (RCG)

As a registered club, we have an obligation to create a safe and healthy gaming environment for our patrons. For the majority of players, poker machines are a form of recreational activity that is conducted in a setting that complies with applicable legislation to minimise risk.

We require all staff to have completed a course in Responsible Conduct of Gaming, in order for them to recognise the risk factors that do exist and the strategies in place to monitor and reduce them. We also offer self-exclusion and voluntary pre-commitment options to patrons that do identify as having a problem, as encouraged industry wide. These solutions have been proven to give problem gamblers the ability to make rational decisions without impacting their freedom of choice.

Furthermore, through limiting the maximum payout by cash and maintaining a policy relating to cheque cashing and financial transactions, we can ensure that the provision of poker machines in the club is as safe and secure as possible.

RESPONSIBLE SERVICE OF ALCOHOL (RSA)

As part of our service involves the consumption of alcohol in a licensed venue, we have a responsibility to minimise the risk associated to patrons, guests, our staff, neighbours and the wider Hawkesbury community.

We adhere to best practice policy when it comes to the responsible service of alcohol and as a leading venue in the Hawkesbury region, we aim to set a positive example to other venues and licensees by exceeding legislative requirements where possible.

Our policy includes the following actions:

• Not condoning any practicethat encourages rapid or excessiveconsumption of alcohol;

• Mandatory RSA training andreview for all staff employed at theRichmond Club site;

• Procedures in place to preventminors consuming alcohol, andpractices that ensure staff arecomfortable with handlingthese situations;

• Zero tolerance to disorderly andanti-social behaviour;

• Dialogue with suppliers topromote best practice inthe industry;

• Strong connections with the localPolice and other organisations;

• Support of initiatives that addressand prevent social issuesassociated with the consumptionof alcohol;

• Guidance for patrons travelling toand from the venue;

• Review of major events (such asANZAC Day) with increasedsecurity and safety procedures inplace (for example, RSA Marshallsand the use of plastic cups only).

We are founding members of the Hawkesbury Liquor Accord and through this are involved with other licensees in the community to foster the responsible consumption of alcohol. This forum has been successful in raising the awareness of a number of issues, including three strikes legislation, public transport options, and social problems.

Our CEO was Chairperson of the Liquor Accord from its establishment in 2006 until stepping down from the role 2014 to pursue other community issues.



S U P P L Y C H A I N& C O N T R A C T O R S

C L U B G R A N T S

Richmond Club Group’s upstream supply chain includes suppliers of food and beverage products, gaming suppliers and in the case of Hawkesbury Living, aged care service providers. Contractors and consultants also form part of this supply chain. There were no significant changes to these service providers during the reporting period.

As an organisation with a distinct local focus, our procurement policy has always been to hire and promote local businesses and contractors wherever possible. Local suppliers that offer superior quality, price and service will always be given precedence. It is important to note that our choice of suppliers

The ClubGRANTS scheme is a way in which the NSW government encourages and recognises the role played by Registered Clubs in their local community. Clubs that earn over $1 million annually in gaming machine revenue are eligible to receive dollar-for-dollar gaming tax reductions for support of community projects and services.

Since the current ClubGRANTS system was introduced in 2011, the claimable rate has increased from 1.5% to 2.25% of taxable gaming revenue.

In addition to this:

• The claimable rate for Category2 expenditure (communitydevelopment and supportservices) increased from 0.75% to1.1%. The claimable rate forCategory 1 (specific communitywelfare, health or social services)remained at 0.75%

sometimes reflects the provision of services available in our LGA as well as business with established industry partners.

At the end of the reporting period, we had a total of 447 listed creditors. Of these, 29% were classed as ‘local’ (within 30kms of Richmond).

As a service-based organisation, the downstream impacts of our operations are the end products provided to our members, patrons and residents.

The transition to the G4 guidelines in the last reporting period has required us to place a stronger focus on material issues that occur

• A new Category 3 was introducedwith a contribution of 0.4% paidquarterly into a state wide fundingpool known as the ClubGRANTSFund for large scale projectsassociated with sport, health andcommunity infrastructure.

This year we assisted over 150 community organisations and contributed more than $288,000 of financial and in-kind support.

Richmond Club has a long and proud history of supporting sporting groups in the Hawkesbury region in whichever way is possible. From the establishment of the Richmond Men’s and Women’s Memorial Bowling Clubs in our Club’s formative years, we have set a precedent for offering the best facilities and opportunities for our local sportspeople. A key part of our mission and value statements is to support all facets of community life in a way that encourage positive connections and participation within the Hawkesbury.

Sporting and social groups that make use of our facilities on a regular basis are varied and include organisations such Rotary International, Lions Club, Toastmasters and interest groups such as Table Tennis, Euchre, Chess, Writer’s Groups and Bingo.

In 1992, Richmond Club donated approximately 88 acres of land to Hawkesbury Shire Council at the corner of Francis Street and Bensons Lane in Richmond with the intention of developing community sporting facilities. Since then, Bensons Lane Sporting Complex has become the Hawkesbury’s most comprehensive sporting ground, with facilities for baseball, softball, cricket, AFL and soccer. In addition, Richmond Club has continued to be the leading supporter local sporting groups, with over 20 receiving significant financial or in-kind support.

both internally and externally to the organisation. For larger suppliers, this has involved aligning with their sustainability practices and ensuring that they meet our approach to sustainability, which is highlighted in our Mission and Value statements. For small, local based companies or contractors, this has involved education on aspects such as labour practices and work health and safety. This is a practice that our organisation has been engaged in for a number of years, and screening will continue with all new contractors and suppliers.



S A N D S C U L P T I N G /T O U R I S M

In line with our organisation’s strategy towards promoting local tourism in the Hawkesbury, we have been involved as a major supporter of the International Sandsculpting Championship since it was brought to the Hawkesbury in 2011.

As we are on the doorstep of Sydney and the Blue Mountains tourism areas, we have long believed that the Hawkesbury has great potential to use tourism as a future economic driver. With its own attractions and identity, the region has plenty to offer to visitors, and the key to creating an ongoing economic contribution through tourism is giving travellers from metropolitan Sydney and beyond a reason to come here. The International Sandsculpting Championships has been one of the driving forces behind this.

We once again provided support for in the way of financial and in-kind support, as well as staff to assist in the running of the event. In 2013, we also worked closely with Hills, Hawkesbury and Riverlands Tourism (HHART) to deliver a Destination Management Plan for the region, which will assist with the management of events such as the Sandsculpting Championship in the future.

The 2013-14 event, which was based around the theme of ‘The Lost World’, saw a change of location from the banks of the Hawkesbury River to McQuade Oval in Windsor. Despite the change, over 30,000 visitors passedt through the gates, which was an increase on previous years.

To create the sculpting masterpieces, over 300 tonnes of ‘brickies’ loam’ was delivered to the Hawkesbury for the entrants to compete for the crown of champion while dazzling audiences with their outstanding creations. The winner in 2014 was Dutch expatriate Jino Van Bruinessen for the second year running, for his creation ‘The Portal’.

In mid-2014, we received the disappointing news that the Hawkesbury region lost the rights to the Sandsculpting Championships. As this event was creating significant momentum for the district in terms of tourism exposure, we were disheartened to learn that the benefits of the last three years of hard work would not be continuing in the future.



M A X P O T E N T I A L

For the third year, we have been involved with ClubsNSW and Future Achievements Australia to facilitate the Max Potential program in the Hawkesbury region.

The Max Potential program aims to connect high school students with personal leadership coaches from the community as they enter the final years at school. It is all about helping students as they begin to make important decisions about their future and encouraging them to focus on the local community and ways to engage with it.

With the help of their mentors, students work through and apply the 10 ‘Maximiser’ principles to their schoolwork, home life and everything in between. The goal is for participants to implement important life skills to their lives in preparation for the HSC and beyond.

As well as hosting the program, we also provided a number of coaches. Coaches have also come from a number of local churches and youth organisations that became interested after seeing the positive effect it had on participants last year.

The coaches involved have also expressed that they have already experienced growth during their time in the program, with benefits seen in their professional and personal lives.

Beginning in February 2014 and running over 22 weeks, mentors and students complete eight one-on-one coaching sessions with the students, and a number of group seminars. The program culminates with each pair developing a project that will make an ongoing contribution to the community.

As in previous years, each student is a fantastic example of the positive impact that young people can have in the Hawkesbury. The projects demonstrate the passion and enthusiasm of each individual student, and are the results of months of hard work, collaboration and growth between students and coaches. While every project is different to those beside it, within each of them are the skills and abilities gained by the students during the program that have helped them become leaders and realise their potential.

The Max Potential program ended with a showcase in August 2014 for the students to display a community project that they have undertaken. It is a celebration of their success and ongoing growth and is open to all members of the public.


24 Community HeartAnnual Report 2014 R I C H M O N D C L U B

W O M E N ’ S C O T T A G E

The Women’s Cottage is a community support and resource centre based in Richmond that assists women living in the Hawkesbury. They offer specialist and skilled support for women experiencing hardship in an inclusive and non-discriminatory environment. The Cottage is also a hub for women in minority groups including ethnicity, sexual preference, religion or background.

The services provided by the Cottage include confidential crisis support, therapeutic, social and interest groups, healthy relationship guidance and counselling services. The Cottage

also keeps a variety of resources on Women’s Health, Domestic Violence, Work related issues, and Child Support and Children’s Services.

Richmond Club has provided financial assistance to the Women’s Cottage and their support groups, especially in regard to domestic violence prevention and children’s services. in addition, the club also traditionally donates christmas hams to the staff and clients of the cottage to use as part of their annual Christmas and emergency hampers for Hawkesbury women and children clients.

Cottage Manager Sharon Payne said the hampers of essential everyday items and Christmas gifts are given out to provide practical assistance over the often emotional festive season.

‘It’s one less thing to worry about through this period so that clients can focus on moving forward and healing with their life,’ Ms Payne said.


N E W H A V E N F A R M

New Haven Farm, based in a rural setting at Freeman’s Reach, is a local not for profit organisation that provides a range of supported accommodation for adults with intellectual disabilities. They support 34 clients across a range of support needs. The charity’s vision ensures that all of their clients are encouraged to make their own choices and when possible, participate in the wider community to develop living and vocational skills.

We have a long standing association of over 15 years with New Haven Farm as one of our major supported charities, and each year our support includes the donation of all proceeds as a result of our annual Charity Race Day held on their behalf. Our assistance also comes in the way of in-kind donations and access to the Club’s facilities for meetings and events.

Our financial contributions are one of the organisation’s few remaining streams of funding, as changes to the Disability Act a number of years ago greatly reduced government support for the charity, although this has since been addressed.

Our experience with New Haven clearly shows that there is a need for different types of housing for people with a disability – one model does not fit all and the clients that are accommodated there make this clear. The person centred approach to care ensures the respect and integrity of each individual, and promotes an environment that is empowering, equal, safe and progressive.Our association is not possible without the support of the community on a wide scale, however over the time that we have been involved

with New Haven Farm we have seen operating conditions get increasingly tough, with local organisations finding it difficult to get on board despite their best intentions. Richmond Club and Hawkesbury Living have felt the pinch from these conditions, however we remain committed to our work within the community, and the New Haven Charity Race Day proves to be an annual highlight of this commitment. We recognise the unbelievable efforts of organisations such as New Haven and want to assist them as a valuable community partners. Our support of New Haven Farm this year included the donation of over $10,000 as a result of the Charity Race Day held on their behalf. In-kind donations were also offered through the waiving of room hire and access to the Club’s facilities for meetings and events.



B O W L I N G C L U B S

Throughout our history, the members of the Richmond Men’s and Ladies Memorial Bowling Clubs have formed an integral part of the community and the foundation of our business. Formed in 1949 and 1957 respectively, these clubs have been at the centre of our social and recreational services and established our long association with sporting groups in the Hawkesbury.

Throughout their history, both clubs have produced a number of outstanding bowlers that have represented the district at an extremely high level. The clubs also continue to have a strong philanthropic spirit, raising money through fundraising events for local projects such as the Hawkesbury Living Cancer Trust.

Today, the bowling clubs continueto maintain community ties and promote an inclusive environment for

our older members. For many, lawn bowls is a way in which our members can remain active and participate in a recreational activity. It has been the foundation of many residents’ social lives in Richmond and has grown into a thriving sporting tradition with a rich history.

For newcomers or people who wish to hone their skills, tutoring and lessons are available from experienced bowlers. The club also regularly organise social and barefoot bowls tournaments. Far from being the pursuit of the elderly, the game is an excellent way to keep active, get social and participate in the community.

We recognise the role the clubs playin our heritage and the social lives of our members. It remains a major part of our identity and the social wellbeing of our members.



H A W K E S B U R Y L I V I N G

2013-14 was a year of recognition, consolidation

and planning for Hawkesbury Living. We were highlighted in a

leading industry report for our pioneering work

into clubs, aged care and specialist memory care.

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We continued the growth of our landmark model of holistic aged care and memory care, in preparation for the future development of the facility with the third stage of our master plan and to meet the growing demand for aged care services in the future. We believe that clubs have an important role to play to ensure the community’s needs are met.

The link between aged care and registered clubs reflects the overall purpose of registered clubs since their inception, and the ability of clubs to find new and diverse ways to extend their relevance on vital community issues.

A large proportion of Richmond Club’s 23,000 members are of a demographic that requires some sort of care, or will require it in the next 5 -10 years. As a result, Hawkesbury Living has presented a number of opportunities to work with our local members and government departments in increasing the bed licenses and improving the standard of aged care infrastructure available for the area, especially in areas such as dementia and specialised memory care.

For the majority of registered clubs, the over 55’s demographic represent a large proportion of their membership base, with up to 70% of NSW residents over the age of 55 being members of at least one club. Furthermore, clubs have a significant place and role in the minds of older Australians, as social meeting places and through the support of community events and programs. Clubs often encourage connection with the community and facilitate independence for senior members. Events catering toward seniors (such as Seniors’ Week, bowls, and mobility classes) and close links with seniors groups are ways in which clubs are vital parts of a community’s social fabric and how they are specifically targeting the social needs of older demographics.

With this in mind, we have always seen Hawkesbury Living as a continuation of the continuum of care to our members and the wider community.

OUR APPROACH HIGHLIGHTED IN MCKELL INSTITUTE REPORT

In 2014, Richmond Club was singled out in a landmark report as a key leader in supporting the ageing population through Hawkesbury Living.

The McKell Institute’s report: Meeting the Shortfall: How Clubs can provide affordable social services in our communities, investigated the provision of child care and aged care services by registered clubs. The report showed Richmond Club as a prime example of this model of community infrastructure, demonstrating how clubs are already well connected to community members, and that the largest issues facing the ageing population is social isolation and the affordability of aged care services.

The report also outlined how other registered clubs can play a key role in developing health, aged care and child care infrastructure in their local communities. It also lists a number of recommendations to quicken this process, including the expansion of the ClubGRANTS scheme, streamlining of the development approval process, and introduction of a social services infrastructure fund for clubs.



INTERNATIONAL STUDIES INTO MEMORY CARE

Throughout our involvement with Hawkesbury Living, our Executive Management team has also pursued models of aged care internationally in North America, China and Europe, leading to the adoption of the Age Song model of care. Part of these study tours involved looking at how other nations have been dealing with their ageing populations, including the provision of infrastructure and services to ensure the elderly remain engaged in their community. The Age Song model focuses on a person-centric and individual style of care, moving away from the clinical perception of aged care facilities.

The master plan is part of our preparation for a growing need for aged and dementia specific care in the Hawkesbury in the future. For many residents, especially those with mental health needs, the transition into aged care is made easier by allowing residents to remain in their local area, and by remaining engaged with the people in the community to offset isolation.

Cameron Cottage is a specialised memory care wing, the first of its kind in the Hawkesbury, and is part of an ongoing plan to address the issue of dementia in the community which stems from the club’s international research. There are almost 280,000 Australians living with dementia, with that number expected to rise to almost 1 million by 2050. It is estimated that the total cost of replacing all family care with paid care is estimated at $5.5 billion per annum. The government has made the support and care of people suffering from dementia a national health priority. A community needs assessment was undertaken as part of Hawkesbury Living’s master plan that addresses the need of dementia care in the Hawkesbury.

The Cottage is styled to stimulate residents’ memories of both their childhood and adult life and promote conversation, while developing a comfortable environment that is not clinical or unfamiliar. Residents now benefit from a positive living environment and a stronger sense of social inclusion.


OUR VOLUNTEERS

We have always engaged with our volunteer team at Hawkesbury Living to create an environment that is mutually rewarding for them and for our residents. We have conducted regular volunteer forums to highlight the beneficial nature of volunteering to the community, and have been successful in inducting 22 new volunteers into our program in 2013. Volunteers assist with all aspects of our residents’ care, and provide an important link to the community.


H A W K E S B U R Y L I V I N G S T A G E 3

In 2005, when Richmond Club approached the nursing home with the proposal to form Hawkesbury Living, we pledged to assist in the management of the facility and to undertake redevelopment and improvement of the nursing home for the benefit of the community.

Adhering to this promise, we unveiled a five stage master plan in 2007 with the aim of increasing the quality of care for its residents and minimising the waiting lists in the Hawkesbury. The first stage of the plan was completed in 2009 at a cost of $2.2 million and increased the number of beds from 71 to 83. The second stage included the development of Magnolia Place at a cost of $2 million, which features 10 state-of-the-art memory care suites catering for those with dementia and Alzheimer’s disease.

The DA for the two-storey Stage 3 was initially submitted to council in July 2011, and included the extension of the facility by an additional 36 beds and the incorporation of additional services on the second floor, which include child care, adolescent respite, and special needs services. Plans were made to accommodate the development when it was decided to move the Oncology and Chemotherapy Centre proposed by the Hawkesbury Living Cancer Trust to the Old Hawkesbury Hospital Site in Windsor.

The aim of Stage 3 of Hawkesbury Living is to centralise services in the region and create a health hub that integrates the residents of Hawkesbury Living into the community, promoting social inclusion. The location would allow people in the region to have better access to vital services without the

need to travel long distances, a factor that causes great adversity for patients and their families in the Hawkesbury.

Commencement on Stage 3 has been delayed due to a number of factors, namely the long awaited DA approval, the progress on the oncology unit and the impact of the wider economic environment on the financial result of Hawkesbury Living. In 2013-14, with the facility stabilised and performing well, plans were made to resubmit the development application with a view to begin the initial stages of the redevelopment in the upcoming financial year.

The key aim of the redevelopment is to transform the facility into the residents’ homes, providing a place of comfort and familiarity over the clinical nature of old style nursing home facilities. The total investment by the Club to date into the redevelopment is over $4 million.



H A W K E S B U R Y L I V I N GC A N C E R T R U S T

The Hawkesbury Living Cancer Trust is the charitable entity established by Richmond Club with the aim of delivering oncology and infusion services to both public and private patients in the Hawkesbury for the first time.

The Richmond Club Board of Directors and CEO had a vision to develop an oncology and infusion centre in the Hawkesbury due to the numerous requests we received from local residents to help alleviate the issues facing cancer sufferers, which include transport (of which we are a major provider), a lack of health infrastructure and most notably the ‘tyranny of distance’ of the Hawkesbury community to the closest oncology departments.

The earliest iteration of this concept was officially approved by the Board in 2010, and with this the original start to the fundraising was coordinated under the charitable status of Hawkesbury Living. In early 2011, our efforts received a considerable boost as Hawkesbury residents Len and Margaret Peel donated $1 million to the Trust.

After community engagement with Nepean Health was undertaken, the Trust decided to explore establishing a multidisciplinary service and specialist centre at the Old Hawkesbury Hospital site in Windsor. The proposed site was viewed by the Trustees as an ideal location, having ample space for an 8 bed unit, quality reception, medical suites, counselling suites, blood collection and an inpatient pharmacy. The site also had a long and well documented history in medicine, and the facility was seen as a fitting tribute to this heritage.

By December 2012, a further $1 million commitment from the Kable family capped off an outstanding year of community support toward the Trust’s

objectives. To date, the Trust has overseen over $2.3 million worth of charitable donations and grants from the local community, demonstrating the true enthusiasm for the cause. Benefactors have ranged from individuals to local organisations such as Rotary and our Women’s Bowling Club, as well as over $200,000 raised through the club fundraising events.

In 2013, our focus shifted significantly as Catholic Healthcare announced via local media that they were at last going to establish an oncology unit in the existing Hawkesbury District Hospital.

It became clear to the Trustees that the district did not need two chemotherapy units, hence we had to abandon our tender process and our involvement changed to engagement with Catholic Healthcare and Nepean and Blue Mountains Health District.

In 2014 and beyond, the Trust understands that there is much more that needs to be done to deliver services to the people in the Hawkesbury district, and as a result have agreed to a multiple stage plan to ensure as many services are provided as possible, as per the original vision for the facility.

Stage 1 of the Trust’s plan is to use the charitable funds to pay for the fit-out of the unit and provide the equipment that will be needed to run the unit. We have conditionally committed $550,000 to Nepean Blue Mountains Health District (State Health) for this purpose.

The Trust sees Stage 2 as working with the area health service to assist in funding the provision of ancillary services for patients in the district such a health workers, counsellors and other allied health professionals.

As the Trust appointer is Richmond Club, we still have an ongoing and vital role to play in the delivery of oncology services to the Hawkesbury. While the Trust itself has had to overcome a number of challenges to be where it is today, with the support and initiative of the club and the wider community, the issue of cancer treatment can be addressed for the betterment of residents in the Hawkesbury.



R I C H M O N DG O L F C L U B

Following the completion of the amalgamation with Richmond Golf Club on 30

July 2013, our two clubs took significant strides in improving the course and clubhouse, and promoting

Hawkesbury golf on the national stage.

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The first milestone of the newly amalgamated club was the inaugural Annual General Meeting of the Richmond Golf Club Sub Club, held on Wednesday 11 December 2013.

The meeting marked the end of the period in which the Golf Club was officially amalgamated on 30 July 2013 and became formally recognised under the Richmond Club banner. Of course, our involvement with the Golf Club has stretched well beyond this point, since the amalgamation first became a possibility almost two years ago.

During the ensuing management period, the course and clubhouse were subject to a number of changes including clubhouse renovations, strategic planning and rebranding, course equipment purchase and capital expenditure, the successful introduction of the new Pro Shop team, and the development of a golf tourism product in the Hawkesbury. All of these changes have boosted the profile of the course in the region and improved the club’s services for returning and new members alike.

The culmination of the club’s cooperation was the immensely successful Seniors PGA tournament held in November 2013, which showcased the course to an international audience and some of Australian golf’s biggest names.

The meeting was also an opportunity to welcome the newly elected Golf Club Management Committee for the next two years. Four long serving members in Nathan Ball, Alan Simpson, Frank Gal and Trent McMillen were elected to hold these positions. With a combination of previous Committee experience and fresh ideas, they will have the opportunity to shape the future of the Golf Club based on the needs of the membership.

The Golf Club also conducted a number of focus groups with members in July 2013 in order to consult the membership on the areas that they believed were of most importance to the future of the golf course and clubhouse. Some of the most notable issues outlined by members included:

- Catering at the Golf Club- Course Maintenance and Drainage- Slow Play Issues- Rebranding of the Course- Refurbishment of Club Facilities

VETERANS &LADIES GROUPS

As part of the Management restructure of the Golf Club, we invited representatives of the Richmond Veterans and Richmond Lady Golfers to sit in on the monthly Management Committee meetings. As these sub clubs form a significant proportion of the Golf Club membership, their contributions and perspective have been invaluable and have added an extra degree of transparency to decisions regarding the Golf Club.

The Richmond Veterans form part of the Western Sydney Region Veterans Golf Association (WSRVGA), whose mission is to foster Veteran’s golf in the region through a calendar of events hosted by the nine member

R I C H M O N D G O L F C L U B


clubs. Their aim is to encourage golf to be played in a spirit of keen competition and good fellowship with a strong emphasis on social interchange. In 2013-14, Richmond Club was a major sponsor of the Veterans as they hosted the 2014 NSW Veterans State Stroke Play Championships, held at Richmond, Penrith and Stonecutters Ridge. Participants from all over the state took part in the highly regarded tournament, held in Western Sydney for the first time.

By a similar token, the Ladies Committee was formed to provide opportunities for lady golfers to get together, learn the game and in some instances represent the Richmond Golf Club, all in a friendly and sociable setting.

In 2013 and 2014, they hosted their annual Breast Cancer Charity Day, one of the highlights of the Richmond Golf Club calendar. In the past the event has raised in excess of $30,000 for breast cancer research and support. In 2013, the Richmond Golf Club

Ladies were pleased to announce the involvement of Pink Finns, a locally based charity dedicated to assisting women diagnosed with breast cancer.

Initiated in 2010, Pink Finss aims to assist women dealing with breast cancer in as many ways as possible. To date, they have assisted women in the Hawkesbury through means such as mental and emotional support, assisting with the care of families during the treatment period, and fundraising.

LOOKING AHEAD

The future development of the Golf Club will be focused around improving the services and facilities for members and guests, while building on the foundations of a successful golf tourism market established by events such as the Coca-Cola Australian Seniors PGA Championship.

The Golf Hawkesbury project, launched in 2013, is one of the major drivers in promoting this market to overnight, day and

international visitors. Working with a number of other golf clubs in the region, the project aims to market the Hawkesbury as a ‘golfing destination’, with flow on benefits to other attractions and businesses in the Hawkesbury. It is a model that is already being utilised with great success in regions such as the Murray River.

In 2014, focus has been on consolidating Richmond Golf Club and building up to the 2014 Australian Seniors PGA Championship in order to create a strong platform for Golf Hawkesbury in the future.

With a sense of stability and progress being made at the Golf Club, there is optimism that the club will live up to its heritage as one of the oldest courses in Australia.



C O C A - C O L A A U S T R A L I A N S E N I O R S P G A C H A M P I O N S H I P

Continuing our strategy of linking golf to the development of local tourism, Richmond Golf Club successfully won the rights to host to one of the Australian Seniors Circuit’s most recognisable events, the Coca–Cola Australian PGA Seniors Championship, from 31 October – 3 November 2013.

The event is part of the E-Z-GO PGA Legends Tour and attracted a field of Australia’s best over 50’s tournament professionals, all competing for a prize purse of AU$70,000. It is the first time that Richmond Golf Club or the Hawkesbury region has been selected for involvement in the tour.The competition proved to be a great opportunity to showcase Richmond and the Hawkesbury to the wider golfing community, with the event being one of the most prestigious events on the Legends Tour Calendar.

We are extremely pleased to note that not only did it significantly boost the profile of the Hawkesbury and Richmond Golf Club within the golfing community but it also made a profit for the club itself. The tournament brought great exposure to the game

of golf in the Hawkesbury, largely due to the support of our sponsorship partners, local businesses and the community. Holding this event in the Hawkesbury proved to have significant flow on opportunities for all clubs and local businesses in the area.

We believe that golf has a major role to play in the growth of Western Sydney. It is a sport on the rise, and we are only just beginning to see the impact it will have by bringing domestic and international visitors to our region. The benefits are not just only for our golf clubs – all businesses will experience the boost to our economy from a developed tourism market.

Furthermore, the event was testament to all of our staff and the members of the golf club that we could host such a prestigious event just a few short months after amalgamation and only a year after the club was placed into administration. The cooperation from all parties involved was outstanding, and with the common goal of revitalising the golf club, we have made the long and arduous process

of amalgamation much easier. The Seniors PGA has put Richmond and the Hawkesbury on the map as a golfing destination, and marks a turning point in the history of the golf club; a moment where it was clear that the amalgamation was the right decision and the future of the club is bright.

The success of the first Seniors PGA Championship was compounded in 2014 when we secured the rights to holding the tournament again in November. This presented an excellent opportunity to build on the established partnerships from last year’s event to ensure that this year will bring more coverage and exposure of the Hawkesbury to the Australian golfing community. Feedback from our members last year highlighted just how special it was to have golfing household names such as Wayne Grady and Roger Davis playing on their course. The 2014 event promised to capture the same spirit and goodwill of last year and the ongoing event is poised to be the jewel in the Hawkesbury golfing calendar each year.



O U RP E O P L E

This was achieved through working directly with our employees, encouraging them to become engaged with the organisation at all levels through committees, forums and general dialogue. Crossover and involvement with other sites within the organisation also promotes engagement and understanding amongst employees.

O U R P E O P L E

In 2013-14 our focus was on providing a motivating,

safe and inclusive work environment for all of our

employees.

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As the largest employer in the Hawkesbury district, it is also important that our workplace and recruitment policies adhere to all employment laws, including equal employment opportunity, occupational health and safety and privacy.

EMPLOYEE PROFILE

As of 30 June 2014, there were a total of 290 staff employed across all areas of our organisation. Active8 employ 26 staff from the Richmond Club’s total, while 7 are employed at Amber Style and Beauty. There are no full time staff employed exclusively for Wanderest, with responsibilities shared by Richmond Club staff.We have a strong focus on recruiting locally where possible. Operational

staff are hired through a quarterly group recruitment process that is advertised locally. This policy has resulted in 60% of our staff living locally (defined as within 20km of Richmond), and a further 40% living within 55km. Management positions are advertised through industry specific media or filled internally where possible. As a result, 8 of 15 managers (53%) live within 20km, with the remaining 7 living within 55km.

Both aged care and hospitality represent industries with a high proportion of female employees. 63% of Richmond Club and 88% of Hawkesbury Living staff are female. At both sites, these positions are largely direct customer service and care roles and a large proportion of applicants

Richmond Club

Male: 48

Female: 52

Hawkesbury Living

Male: 14

Female: 107

Richmond Club

Full Time: 48

Part Time: 52

Casual: 69

Total: 169

Hawkesbury Living

Full Time: 7

Part Time: 82

Casual: 32

Total: 121

E M P L O Y E E S B Y E M P L O Y M E N TT Y P E & L O C A T I O N

Richmond Club

Full Time: 17

Part Time: 13

Casual: 14

Total: 44 (26%)

Male: 20

Female: 24

Hawkesbury Living

Full Time: 3

Part Time: 19

Casual: 35

Total: 57 (47%)

Male: 6

Female: 51

T U R N O V E R B Y E M P L O Y M E N TT Y P E & L O C A T I O N

E M P L O Y E E S B Y G E N D E R& L O C A T I O N :

37 Community HeartAnnual Report 2014 O U R P E O P L E

during the group recruitment process are female (this is as high as 90% at Hawkesbury Living).

In 2013-14, staff turnover for the Group was 101 or 34%% of the total workforce. Richmond Club staff accounted for 44 of this total, while Hawkesbury Living accounted for 57. A number of factors have beenidentified as influencing the rate of turnover at both sites, including staff relocating out of the area, career path changes and other career opportunities. Exit interviews are conducted with all staff leaving the organisation, with aspects in relation to turnover including induction and training, career progression, job satisfaction and salary.

DIVERSITY &EMPLOYEE BENEFITS

A diverse workforce encourages innovation and improves the overall culture of our staff and the organisation. Our employment policies are driven by Equal Employment Opportunity (EEO) legislation that ensures that the work environment is equal for everyone regardless of age, gender or other indicators of diversity.

A benefit of collective bargaining agreements and awards wages is that staff wages are based on experience and responsibility over indicators of diversity. Consequently, the wage ratio of male and female staff in the same operational role is 1:1. The minimum wage as defined by Fair Work in 2012-13 was $15.96 per hour, in contrast with the entry level wage

at Richmond Club and Richmond Golf Club (Level 2) which is $18.42, or 13% above this figure.

There are no defined benefit plans for employees. All staff are entitled to superannuation and other defined contribution plans as per Australian legislative requirements. Parental leave is also offered to full time and part time employees in accordance with Part 2-2, Division 5 of the Fair Work Act 2009. In 2013-14, 5 staff went on Parental leave, with all returning to work on a flexible hours basis.

The minimum notice period for operational changes, including termination, is one week for staff employed under a year as per the Group’s Enterprise Agreements.


Work health and safety (WHS) is crucial and one of our top priorities. Considering potential risks and involving staff in all levels of hazard reduction is incorporated into our policy and operational procedures. It is our responsibility to ensure our workplace is safe and productive for all staff.

Employees play an important role in the identification and prevention of workplace related risk. They have the opportunity to be involved in the WHS decision making process through individual consultation or participation in internal committees. We aim to continue our engagement of WHS best practice by:

• Engaging all staff on issues of risk management and hazard reduction in the workplace;• Offering WHS training to all staff on an annual basis;• Using the WHS Committee to identify and minimise the potential of hazards for staff, members and contractors.

Richmond Club’s WHS Committee is an employee body that consists of management and staff from all areas of operations. Meetings are held monthly and are an opportunity for employees to raise issues from their respective workplaces, and to address and review incidents that have occurred. Training in regard to WHS legislation is offered to all committee members and is reviewed annually.

The current WHS Committee at Richmond Club consists of 14 active members (of which 4 are management) representing 8% of total staff, including representation from Richmond Golf Club. Hawkesbury Living’s WHS Committee has 8 members, of which 4 are from management positions.

There are currently no health and safety topics covered in formal agreement with trade unions across the Group, however issues such as workload management and work/life balance are built into Richmond Club and Hawkesbury Living’s respective Enterprise Agreements.

T R A I N I N G &E D U C A T I O N

We have a responsibility to provide education and training opportunities for not only our staff, but also the wider Hawkesbury community. Opportunities such as work placement and higher education scholarships create job opportunities and enable our staff to progress professionally and remain motivated. We pride ourselves as an equal opportunity employer, and have taken steps to ensure that staff are employed on attitude and a willingness to embody our values, rather than factors such as age or gender.Through various training and

education opportunities, as well as the support of higher education scholarships and work placement, we are enabling our people to progress both professionally and personally. We believe that developing strong leaders and providing our employees with the skills to help them deliver on their job roles has a strong link to the success of our operations.Our attitude to training and recruitment is based on attitude over skill. This means that existing and new employees are given the opportunity to develop skills in a workplace environment, and are encouraged to

train in areas across the organisation based on their interests. Prospective employees are not required to have any prior training in the job they are applying for and the opportunity for formal training is offered for those successfully gaining employment.We encourage the development of staff with external qualifications through Western Sydney TAFE, namely Certificate III and IV traineeships in Hospitality (Richmond Club) and Certificate III in Aged Care (Hawkesbury Living).

O U R P E O P L E


W O R K F O RT H E D O L E

Our organisation’s Work for the Dole program is enabling job seekers from within the community to develop their skills and gain on site experience as they look for employment.The program is offered across all of the organisation’s service and back of house areas, including grounds keeping, administration, catering, hairdressing, IT and maintenance. Participants have been based at Richmond Club, Hawkesbury Living and Richmond Golf Club.

In July 2014, unemployment amongst 15 – 24 stood at almost 15 per cent,

approximately 270,000 people. While this is not the highest figure recorded, the concern for many in the community is that more young people are becoming disengaged with the work force and are no longer active in the hunt for employment.The program aims to counter this with on the job experience and a pathway toward meaningful future employment.

Participants are also encouraged to complete certificate level study in their chosen area through Western Sydney TAFE while working for the

Group. For most, this means they can build on what they learn in the classroom in a real life setting.Feedback from the program has been extremely positive, with participants agreeing that allows them to return to working without the stigma of being ‘on the dole’. Local government and State members have also spoken warmly about the program, describing it as one of the best examples within the clubs industry.

O U R P E O P L E


O U RE N V I R O N M E N T A LI M P A C T


O U RE N V I R O N M E N T A L I M P A C T

Our organisation is based around the principles of Triple Bottom Line, giving equal priority to people, planet and profit. Using these guidelines, we can continue our positive economic and social role in the community while minimising the environmental impact on future generation’s enjoyment of the beautiful Hawkesbury region.

Central to our approach toward sustainability is that everyone has a form of responsibility – from the organisation as a whole, to our management team and to each employee. Our goal is to continually monitor and reduce our environmental impacts through limiting our consumption of water, electricity and other resources in a way that is both practical and effective.

We are doing this by:

• Taking steps to limit our environmental impact, either through the retrofitting of equipment and review of policy, or in the design of new capital works;• Engaging our staff and encouraging them to become involved in sustainability initiatives across all levels of our organisation (from the Sustainability Committee to day-to-day operations);• Developing a more thorough method of recording and monitoring resource usage;• Working with the local community, industry partners and other stakeholders with regard to environmental sustainability.

During the reporting period, our organisation continued to take steps to limit our environmental impact at our main site through developing more thorough and reliable methods for measuring resource usage, monitoring small scale faults and leaks, and considering environmental impacts in the review of policy and design of upcoming capital works.

With electricity and resource costs rising each year, and a growing understanding amongst our members about the importance of sustainability, ‘going green’ has been an important priority for the club in the 2013-14 financial year.

We introduced new state-of-the-art submetering technology to the club to make it easier to monitor our use of electricity, water and gas and in turn limit costs. Working with leading international company EP&T Global, the EDGE system allows us to track our resource use with a level of accuracy that we have not been able to reach before. This means a more efficiently run and environmentally friendly club – without impacting on the comfort and experience of our members.

The system has been successfully implemented at a number of large clubs in NSW, with savings of up to 20% off of their respective electricity usage. At Richmond Club, we saw an immediate benefit through the system identifying inefficiencies with our air conditioning system, which have been addressed and rectified.

As the system was installed late in the year, we anticipate that more significant reductions will be visible in future reporting periods.

O U R E N V I R O N M E N T A L I M P A C T

Electricity Consumption

2013-14 (KwH)

Richmond Club: 2,624,215

Hawkesbury Living: 548,365

Richmond Golf Club: 100,634

Total: 3,273,214

Water Consumption

2013-14 (KL)

Richmond Club: 13,861

Hawkesbury Living: 9,080


Richmond Golf Club – Recycled

Water: 115,092

Total: 148,053

Gas Consumption

2013-14 (MJ)

Richmond Club: 3,052,547

Hawkesbury Living: 1,458,855


Total: 4,549,919


WASTAGE

Our long term wastage goal is to have a minimum of 51% of all waste products diverted from landfill through reducing, reusing and recycling waste. Our progress on this objective has slowed this year as budget constraints and ongoing staff engagement have had to be addressed.

In 2013-14,39% of all landfill waste was diverted to recycling.

All waste water from the Richmond Club site is treated as domestic sewerage, and as the site utilises town water infrastructure there is no significant bodies of water that were affected by our water usage. The site has the capacity to recycle approximately 5000m3 of rainwater through on-site tanks.

An ongoing priority for the coming year is developing a monitoring and review system for paper usage in our administration department. Both the Richmond Club Board of Directors and Richmond Golf Club Management Committee have moved to paperless meetings facilitated by a secure online server.

O U R E N V I R O N M E N T A L I M P A C T


G O V E R N A N C E

RESPONSIBILITIES OF THE BOARD

The Board is responsible for the overall corporate governance of the organisation, including its strategic direction, establishing goals for management and monitoring these goals.

The Board reviews and approves the policies and procedures put in place to maintain the highest level of governance for Richmond Club and Hawkesbury Living, which includes:

• Reviewing and approving the strategic direction, budgets and business plans prepared by management;• Assuring itself of the effectiveness of arrangements for the governance of Richmond Club and Hawkesbury Living including;o The quality of service provision;o The appropriateness of organisation arrangements and structures, ando The adequacy of internal controls and processes.

COMPOSITION OF THE BOARD

Composition of the Board is determined in accordance with the club’s Articles of Association and by-laws. The Richmond Club Board comprises eight independent non-executive directors including the chairman and vice chairman. All positions are elected by members of the club. The Hawkesbury Living Board also consists of eight independent non-executive positions

that are currently filled by the Richmond Club Board. Board members are elected by the membership base of Richmond Club for a two year period. Appropriate qualifications and experience for candidates is made available to members for consideration. Casual Board vacancies are also filled by the Board with regard to appropriate qualifications and experience.

BOARD MEETINGS

The development of procedures to improve our economic, social and environmental performance is the responsibility of the Group CEO, who then makes recommendations regarding the strategic direction of the organisation to the Board of Directors. This includes elements such as risk and opportunity, operations and compliance.Both Boards are required to meet at least monthly and follow meeting guidelines that ensure all Directors are made aware of and have available all necessary information to participate in an informed discussion on all agenda items. Board members are required to disclose any conflicts of interest at every Board meeting, which are then notified to the Office of Liquor and Gaming.

RISK MANAGEMENT

We believe that there are significant opportunities that exist through promoting sustainability principles within our organisation. These opportunities can be both financial and reputational, and through good business practice, we are able benefit greatly from integrating elements of sustainability into our operation.

Similarly, our key areas of sustainability risk lie in failure to operate efficiently and responsibly while not meeting compliance and regulation standards. This can also involve not reaching our sustainability targets and missing out on the improved performance targets that are a result of reaching our goals.

Controls in place to manage risk include:

• Policies and procedures, especially in regard to operations and codes of conduct;• A dedicated member of our executive management team dealing with compliance and legal issues;• A risk management system integrated into operations and procedures;• Formalised management reporting against our objectives.

G O V E R N A N C E


F I N A N C I A LR E P O R T45. D I R E C T O R S R E P O R T

48. R I C H M O N D C L U B

F I N A N C I A L S T A T E M E N T S

70. H A W K E S B U R Y L I V I N G C A N C E R

T R U S T C H A I R M A N ’ S R E P O R T

71. H L C T F I N A N C I A L S T A T E M E N T S

45 Community HeartAnnual Report 2014 R I C H M O N D C L U B L I M I T E D & C O N T R O L L E D E N T I T Y

A B N 1 4 0 0 1 0 3 4 9 1 1

D I R E C T O R S ’ R E P O R T

Your directors present their annual report on the company for the financial year ended 30 June 2014. The names of the directors in office at any time during or since the end of the year are as follows:

Geoffrey LuscombeGarry WattersonJohn MelodyMaxwell PhillipsPeter ChidgeyJohn BakerDavid BertenshawGregory Thompson

The Directors’ qualifications, experience & special responsibilities are as follows:

GEOFFREY LUSCOMBEChairman, elected 18 November 2009. Chairman 5 years. Vice Chairman 7 years. Board member 16 years. Club member 38 years. Retired.

GARRY WATTERSONVice Chairman 1 year (Elected 1 November 2013). Board member 11 years. Club member 30 years. Retail Services manager

JOHN MELODYBoard member 12 years. Club member 32 years. Transport.

MAXWELL PHILLIPSBoard member 9 years. Club member 36 years. Retired.

PETER CHIDGEY – Vice Chairman, elected 18 November 2009.Board member 9 years. Vice Chairman 4 years (Retired 1 November 2013). Club member 11 years. Company director, CEO.

JOHN BAKERBoard member 8 years. Club member 8 years. Solicitor.

DAVID BERTENSHAWBoard member 7 years. Club member 23 years. General manager.

GREGORY THOMPSONBoard member 5 years. Club member 5 years. Veterinary surgeon.

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. RICHMOND CLUB LIMITED & CONTROLLED ENTITY

MAXPHILLIPS

GREGTHOMPSON

GEOFFREYLUSCOMBECHAIRMAN

GARYWATTERSONVICE - CHAIRMAN

PETERCHIDGEY

JOHNMELODY

JOHNBAKER

DAVIDBERTENSHAW

Y O U RD I R E C T O R S


The principle activities of the company are the conduct of a licensed social, sporting & recreation club and the operation of a nursing home and retirement units in Richmond, NSW through its controlled entity.

The long term objectives are as follows:

• To continually improve the quality of the services we provide including food, beverage, gaming, sport, recreation, fitness, children’s play area, caravan facility, function centre, entertainment, retirement living, aged care, tourism, golf, and other complimentary services.• To continue to embrace the sacrifice of our servicemen and women past, present and future.• To provide a balance of planet, people and profit for communities of the Hawkesbury and surrounding districts.• To maintain a high standard of aged care and quality services.• To continue providing Richmond residents with a sense of dignity as well as comfort, privacy and safety levels.• To provide affordable, independent housing.• To assist in the provision of community housing.• To assist in the development of Hawkesbury Living Cancer Trust and the Len and Margaret Peel Chemotherapy and Infusion Unit.

• To improve golf course grounds, facilities and clubhouse services to players, members and guests.• To build stage 3 of Hawkesbury Living specialising in a behavioural unit.• To reduce aged care waiting lists generally.• To maintain the excellent course and facilities at Richmond Golf Club.• To collaborate with other Aged Care providers to increase infrastructure in the Hawkesbury responsibly.

The short term objectives are as follows:

• To continue working toward the health and wellbeing of our children, seniors and community including the provision of sport and recreation.• To cater for our older community and those with special needs, developing health and wellbeing.• To improve net cash inflows.• To continually improve and enhance social inclusion programs through our venues and the local community.• To extend the caravan facility and assist in the development of sustainable tourism through the Hawkesbury and adjoining Local Government Areas.

To achieve these objectives, the company adopted the following strategies and measures of performance:

• The use of benchmarking and key performance indicators within that process including profitability, efficiency, membership, staff productivity, cost control, gross profit in core trading areas, ratios, marketing, cash flow from operations to reinvestment in capital expenditure and community support. Community support performance is not only the amount of funds directed to that area but the amount of “in kind” support provided.• To continually strive to operate efficiently and in a manner that is consistent with accepted business practice to ensure facilities are preserved, member benefits are maintained and community support is ongoing.• We constantly monitor member, guest and residents’ satisfaction of services and facilities.• The training of employees to ensure the highest levels of service are provided to our members, guests and aged care residents.• The company is actively involved with government representatives and departments with the club and aged care environments.• Assessment and other accreditation standards and other responsibilities as required by the Aged Care Act 1997. Assessments include surprise and arranged visitations.

D I R E C T O R S ’ R E P O R T ( C O N T I N U E D )

R I C H M O N D C L U B L I M I T E D & C O N T R O L L E D E N T I T YA B N 1 4 0 0 1 0 3 4 9 1 1


A copy of the auditor’s independence declaration for the year ended 30 June 2014, as required under section 307C of the Corporations Act 2001 was received and is attached.

During the financial year 14 meetings of directors were held. Attendances were as follows:

R I C H M O N D C L U B L I M I T E D & C O N T R O L L E D E N T I T YA B N 1 4 0 0 1 0 3 4 9 1 1

The company is incorporated under the Corporations Act 2001 and is a company limited by guarantee.The company has two classes of ordinary membership, ordinary & junior. Each member is liable to contribute no more than four dollars in the event the company is wound up. The collective liability of members was $43,140 (last year $41,256).

Signed in accordance with a resolution of the Board of Directors

Geoffrey LuscombeChairman

Dated: 20 January 2015

Geoffrey Luscombe 14 14Garry Watterson 14 11John Melody 14 7Maxwell Phillips 14 11Peter Chidgey 14 13John Baker 14 11David Bertenshaw 14 11Gregory Thompson 14 11

Number of Meetings Eligible

to Attend

Number of MeetingsAttended

48 Community HeartAnnual Report 2014 F I N A N C I A L R E P O R T

RICHMOND CLUB LIMITED & CONTROLLED ENTITY ABN 14 001 034 911

DIRECTORS’ DECLARATION

In accordance with a resolution of the directors of Richmond Club Limited, the directors of the company declare that:

1. The financial statements and notes, being the Consolidated Income Statement, the Consolidated Statement ofProfit or Loss and Other Comprehensive Income, the Consolidated Statement of Financial Position, theConsolidated Statement of Changes in Equity, the Consolidated Statement of Cash Flows and Notes to theFinancial Statements, are in accordance with the Corporations Act 2001 and:

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

b. give a true and fair view of the financial position of the company as at 30 June 2014 and of itsperformance for the year ended on that date of the consolidated group.

2. In the directors’ opinion there are reasonable grounds to believe that Richmond Club Limited will be able topay its debts as and when they become due and payable.

Geoffrey Luscombe Director

Dated this 20 January 2015

AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001

TO THE DIRECTORS OF RICHMOND CLUB LIMITED

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2014 there have been:

i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

ii. no contraventions of any applicable code of professional conduct in relation to the audit.

DUNN KEAN & STAFF Chartered Accountants

Partner: David Kean Registered Company Auditor Signed at 97 Francis Street, Richmond, NSW Dated this 20 January 2015


NOTE 2014 2013$ $

RevenuesSale of Goods 3 5,480,092 5,034,032 Provision of Services 3 19,562,731 19,042,584 Gain on Purchase - Richmond Golf Club 545,449 - Other Revenue 642,675 708,531 Cost of Goods Sold 3 (1,987,759) (1,740,947) Employee Benefits Expense 3 (11,576,887) (10,603,501) Finance Costs (622,571) (675,096) Other Expenses 3 (10,103,831) (9,538,237) Support Payments to the Community 4 (288,114) (318,536)

PROFIT (LOSS) BEFORE DEPRECIATION, AMORTISATION & IMPAIRMENT 1,651,784 1,908,831

Less: Depreciation, Amortisation and Impairment Expense (2,002,878) (1,728,702)

PROFIT (LOSS) BEFORE INCOME TAX EXPENSE (351,093) 180,129

LESS: INCOME TAX EXPENSE 5 (12,692) (2,661)

NET PROFIT AFTER INCOME TAX EXPENSE (338,401) 182,790

OTHER COMPREHENSIVE INCOMEItems that will not be reclassified subsequently to Profit or Loss Gains on Revaluation of Land and Buildings - 174,108 Items that may be reclassified subsequently to Profit or Loss Fair Value Gains (Losses) on Available For Sale Financial Assets - 621

OTHER COMPREHENSIVE INCOME (LOSS) - 174,729

TOTAL COMPREHENSIVE INCOME (LOSS) (338,401) 357,519

PROFIT (LOSS) ATTRIBUTABLE TO MEMBERS OF THE ENTITY (338,401) 182,790

TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO MEMBERS OF THE ENTITY (338,401) 357,519

The accompanying notes form part of the financial statements

RICHMOND CLUB LIMITED & CONTROLLED ENTITYABN 14 001 034 911

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE YEAR ENDED 30 JUNE 2014

Consolidated Group


NOTE 2014 2013$ $

CURRENT ASSETSCash & Cash Equivalents 6 1,872,833 481,612 Trade & Other Receivables 7 370,823 530,313 Inventories 8 157,430 129,903 Other Current Assets 9 30,023 471,396

TOTAL CURRENT ASSETS 2,431,109 1,613,223

NON-CURRENT ASSETSFinancial Assets 10 2,335 2,366 Property, plant and equipment 11 40,449,991 40,118,578 Intangible assets 12 5,275,021 5,143,224 Deferred tax assets 15 193,918 181,226 Other Non Current Assets 9 173,667 189,193

TOTAL NON-CURRENT ASSETS 46,094,932 45,634,587

TOTAL ASSETS 48,526,041 47,247,810

CURRENT LIABILITIESTrade & other payables 13 3,339,514 1,669,294 Borrowings 14 3,657,481 3,239,358 Current tax liabilities 15 - - Short term provisions 16 948,606 1,092,346

7,945,601 6,000,998

NON-CURRENT LIABILITIESBorrowings 14 10,871,614 11,221,138 Deferred tax liabilities 15 358,074 358,074 Long term provisions 16 43,933 22,379

TOTAL NON-CURRENT LIABILITIES 11,273,621 11,601,591

TOTAL LIABILITIES 19,219,222 17,602,589

NET ASSETS (LIABILITIES) 29,306,819 29,645,220

EQUITYReserve 26 8,313,229 8,313,229 Retained profits 20,993,590 21,331,991

TOTAL EQUITY 29,306,819 29,645,220

AS AT 30 JUNE 2014



CONSOLIDATED STATEMENT OF FINANCIAL POSITION


Retained Earnings

Revaluation Surplus Total

$ $ $

Balance at 1 July 2012 21,149,201 8,138,500 29,287,701Profit attributable to members entity 182,790 182,790Other Comprehensive Income for the year Gains on Revaluation of Land and Buildings 174,108 Fair Value Gains/(Losses) on Available For Sale Financial Assets 621 621Balance at 1 July 2013 21,331,991 8,313,229 29,645,220Profit attributable to members entity (338,401) (338,401)Other Comprehensive Income for the year Gains on Revaluation of Land and Buildings - 0 Fair Value Gains/(Losses) on Available For Sale Financial Assets - 0Balance at 30 June 2014 20,993,590 8,313,229 29,306,819


FOR THE YEAR ENDED 30 JUNE 2014CONSOLIDATED STATEMENT OF CHANGES IN EQUITY



NOTE 2014 2013$ $

CASH FLOW FROM OPERATING ACTIVITIES

Receipts from Members, Visitors, Residents,Government and Others 25,648,627 24,230,787 Payments to suppliers and employees (23,554,320) (22,689,237) Interest Received 37,256 19,982 Finance Costs Paid (633,317) (645,007)

Net Cash provided by (used in) Operating Activities 1,498,245 916,524

CASH FLOW FROM INVESTING ACTIVITIES

Acquisition of Property, Plant and Equipment (788,869) (1,158,700) Disposal of Intangible Assets and Investments 549,000 937,135 Proceeds from disposal of Property, Plant & Equipment 23,636 89,573

Net cash provided by (used in) investing activities (216,232) (131,992)

CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from borrowings 869,283 115,500 Repayment of borrowings (758,598) (640,000)

Net cash provided by (used in) financing activities 110,685 (524,500)

NET INCREASE IN CASH HELD 1,392,697 260,033 Cash at the beginning of the year 480,136 220,103

CASH AT THE END OF THE FINANCIAL YEAR 6 1,872,833 480,136


CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 30 JUNE 2014

Consolidated Group


The consolidated financial statements and notes represent those of Richmond Club Limited and controlled entity ("Consolidated Group" or "Group").

The separate financial statements of the parent entity Richmond Club Limited, have not been presented within this financial report as permitted by the Corporations Act 2001.

The directors authorised the issue of the Financial Report on 20 January 2015.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of PreparationThe financial statements are general purpose financial statements that have been prepared in accordance withAustralian 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 AustralianAccounting Standards.

Australian Accounting Standards set out accounting policies that the Australian Accounting Standards Board 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 the financial statements are presented below and have beenconsistently applied unless stated otherwise.

The financial statements, except for the cash flow information, have been prepared on an accrual 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.

a. Principles of ConsolidationThe consolidated financial statements incorporate the assets, liabilities and the results of the entities controlled byRichmond Club Limited at the end of the reporting period. A controlled entity is any entity over which Richmond Club Limited has the power to govern the financial and operating policies so as to obtain benefits from its activities.

The company has a controlled entity being wholly owned subsidiary Hawkesbury Living Pty Ltd.

In preparing the consolidated financial statements all inter-group balances and transactions between entities in the consolidated group, have been eliminated in full on consolidation.

There are no non-controlling interests in any companies in the consolidated group.

Business CombinationsBusiness Combinations where an acquirer obtains control over one or more businesses.

A business combination is accounted for by applying the acquisition method, unless it is a combination involving entitiesor businesses under common control. The business combination will be accounted for from the date that control is attained whereby the fair values of the identifiable assets acquired and liabilities (including contingent liabilities) assumedare recognised (subject to certain limited exceptions).

When measuring the consideration transferred in the business combination, any asset or liability resulting from a contingentconsideration arrangement is also included. Contingent consideration classified as an asset or a liability is remeasured in each reporting period to fair value recognising any change to fair value in profit or loss, unless the change in value can be identified as existing at acquisition date.

All transaction costs incurred in relation to business combinations, other than those associated with the issue of a financial instrument are recognised as expenses in profit or loss.

The acquisition may result in the recognition of goodwill or a gain from a bargain purchase.

During the reporting period the company acquired the net assets of Richmond Golf Club Ltd. This has resulted in a gain onbargain purchase which has been recognised in profit or loss.


NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2014


1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

b. Income TaxThe income tax expense (revenue) for the year comprises income tax expense (income) and deferred tax expense (income).Current income tax expense charged to the profit or loss is the tax payable on taxable income. Current tax liabilities (assets) are measured at the amounts expected to be paid to (recovered from) the relevant taxation authority.Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability balances during the year. Current and deferred income tax expense (income) is charged or credited outside profit or loss when the tax itemrelates to items that are recognised outside profit or loss.Except for business combinations, no deferred income tax is recognised from the initial recognition of an asset or liability where there is no effect on accounting or taxable profit or loss.Deferred tax assets and liabilities are calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled and their measurement also reflects the manner in which management expects to recover or settle the carrying amount of the related asset or liability.Deferred tax assets relating to temporary differences and unused tax losses are recognised only to the extent that it is probable that future taxable profit will be available against which the benefits of the deferred tax asset can be utilised.Current tax assets and liabilities are offset where a legally enforceable right of set-off exists and it is intended that net settlement or simultaneous realisation and settlement of the respective asset and liability will occur. Deferred tax assets and liabilities are offset where a legally enforceable right to set-off exists and the deferred tax assets and liabilities relateto income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where it is intended that net settlement or simultaneous realisation and settlement of the respective asset and liability will occur in future periods in which significant amounts of deferred tax assets or liabilities are expected to be recovered or settled.The company, using the principle of mutuality, is only liable for income tax based on earnings from non-members and external parties.No provision for income tax has been raised for the subsidiary as it is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.

c. InventoriesInventories are measured at the lower of cost and net realisable value.Inventories acquired at no cost, or for nominal consideration, are valued at the current replacement cost as at the dateof acquisition.

d. Financial InstrumentsInitial Recognition and MeasurementFinancial assets and financial liabilities, are recognised when the entity becomes a party to the contractual provisions of 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 transactions costs, except where the instrument is classified "at fair value through profit or loss" in which casetransaction costs are recognised immediately as expenses in profit or loss.

Classification and Subsequent Measurement

Financial instruments are subsequently measured at fair value, amortised cost or cost. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.

Available For Sale InvestmentsAvailable 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 compriseinvestments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments.

They are subsequently measured at fair value with any remeasurements other than impairment losses recognised inother comprehensive income. When the financial asset is derecognised, the cumulative gain or loss pertaining to theasset previously recognised in other comprehensive income is reclassified into profit or loss.

NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2013 Continued




d. Financial Instruments continuedAvailable for sale financial assets are classified as non current assets when they are not expected to be sold within 12 monthsafter the end of the reporting period. All other available for sale financial assets are classified as current assets.

Held to Maturity InvestmentsHeld to maturity investments are non-derivative financial assets that have fixed maturities and fixed or determinablepayments, and it is the group's intention to hold these investments to maturity. They are subsequently measured atamortised cost. Gains or losses are recognised in profit or loss through the amortisation process and when the financialasset is derecognised.

Loans and ReceivablesLoans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in anactive market and are subsequently measured at amortised cost. Gains or losses are recognised in profit or lossthrough the amortisation process and when the financial asset is derecognised.

Financial LiabilitiesNon-derivative financial liabilities other than financial guarantees are subsequently measured at amortised cost. Gainsor losses are recognised in profit or loss through the amortisation process and when the financial liability is derecognised.

ImpairmentAt the end of each reporting period, the group assesses whether there is objective evidence that a financial asset has been impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence that impairment as a result of one or more events (a "loss event") has occurred, which has an impact on theestimated future cash flows of the financial asset(s).

In the case of available for sale financial assets, a significant or prolonged decline in the market value of the instrumentis considered to constitute a loss event. Impairment losses are recognised in profit or loss immediately. Also, anycumulative decline in fair value previously recognised in other comprehensive income is reclassified to profit or loss atthis point.

When the terms of financial assets that would otherwise have been past due or impaired have been renegotiated, theGroup recognises the impairment for such financial assets by taking into account the original terms as if the terms havenot been renegotiated so that the loss events that have occurred are duly considered.

DerecognitionFinancial assets are derecognised where the contractual rights to receipt of cash flows expires 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 either discharged, cancelled or have expired. The difference between the carrying amount of the financial liability 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.

e. Property, Plant and EquipmentEach class of property, plant and equipment is carried at cost or fair value as indicated less, where applicable, any accumulated depreciation and impairment losses.

Freehold PropertyFreehold land and buildings are shown at fair value (being the amount for which an asset could be exchanged between knowledgeable willing parties in an arm's length transaction), based on periodic valuations by external independent valuers, less accumulated depreciation for buildings.

Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation surplus in other comprehensive income. Decreases that offset previous increases of the same class of asset are recognisedagainst revaluation surplus directly in other comprehensive income. All other decreases are recognised in profit or loss.

Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount restated to the revalued amount of the asset.

Freehold land and buildings that have been contributed at no cost, or for nominal cost are valued at the fair value of the asset at the date it is acquired.





e. Property, Plant and Equipment continuedPlant and equipmentPlant and equipment are measured on the cost basis and are therefore carried at cost less accumulated depreciation and any accumulated impairment losses. In the event the carrying amount of plant and equipment is greater than its estimated recoverable amount, the carrying amount is written down immediately to its estimated recoverable amount and impairment losses are recognised either in profit or loss or as a revaluation decrease if the impairment losses relate to a revalued asset. A formal assessment of recoverable amount is made when impairment indicators are present(refer to Note 1(f) for details of impairment).

DepreciationThe 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 assets useful life to the consolidated group 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 depreciation rates used for each class of depreciable assets are:

Buildings 1%-5%

Leased Assets 10%-50%

The assets residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

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.

f. Impairment of AssetsAt each the end of each reporting period the entity assesses whether there is any indication that an asset may beimpaired. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverableamount of the asset, being the higher of the asset's fair value less costs to sell and value in use, to the assets carrying value. Any excess of the asset's carrying value over its recoverable amount is recognised immediately in profit or loss, unless the asset is carried at a revalued amount in accordance with another standard (e.g. in accordance with therevaluation model in AASB 116). Any impairment loss of a revalued asset is treated as a revaluation decrease in accordance with that other standard.

Where it is not possible to estimate the recoverable amount of a class of assets, the entity estimates the recoverableamount of the cash-generating unit to which the class of asset belongs.

Impairment testing is performed annually for intangible assets with indefinite lives.

g. Employee BenefitsShort-term Employee BenefitsProvision is made for the company's obligation for short-term employee benefits. Short term employee benefits(other than termination benefits) that are expected to be settled wholly within 12 months after the end of the annual reporting period in which the employees render the related service, including wages and salaries. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled.The company's obligations for short-term employee benefits such as wages and salaries are recognised as a part of current trade and other payables in the statement of financial position.

Other Long-term Employee BenefitsThe company classifies employee's long service leave and annual leave entitlements as other long-term employeebenefits as they are not expected to be settled wholly within 12 months after the end of the annual reporting period in which the employees render the related service. Provision is made for the company's obligation for other long-term employee benefits, which are measured at the present value of the expected future payments to be made to employees. Expected future payments incorporate anticipated future wage and salary levels, durations of service and employee departures, and are discounted at rates determined by reference to market yields at the end of the reporting period on government bonds that have maturity dates that approximate the terms of the obligations. Upon the remeasurement of obligations for other long-term employee benefits, the net change in the obligation is recognised in profit or loss.

Plant,Equipment,Gaming Machines & Vehicles 2.5%-50%





g. Employee Benefits continuedThe company's obligations for long-term employee benefits are presented as non-current liabilities in its statement of financial position, except where the company does not have an unconditional right to defer settlement for at least12 months after the end of the reporting period, in which the obligations are presented as current liabilities.

h. LeasesLeases 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 company are classified as finance leases. Finance leases are capitalised, recording an asset and a liability equal to the value of the minimum lease payments including any guaranteed residual values. Leased assets are depreciated on a straight line basis over the shorter their estimated useful lives or the lease term.

Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor ,are chargedas expenses on a straight line basis over the lease term. Lease incentives for operating leases were not received.

i. Cash & Cash EquivalentsCash 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 in the statement of financial position.

j. RevenueRevenue from the sale of goods is recognised upon delivery of goods to customers.Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial asset. Members' Subscriptions and other income in advance is bought to account in the financial year in which it relates.All revenue is stated net of the amount of goods and services tax (GST).

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office. Receivables and payables in the statement of financial position are shown inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the statement of financial position.

Cash flows are presented in the statement of cash flows on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to, the ATO are presented as operating cash flows included in net receipts from customers or payments to suppliers.

l. Comparative FiguresWhen required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

m. IntangiblesThe subsidiary company capitalises the acquisition of Bed Licences & Corporate Branding at cost at inception. Bed Licences are considered to have an indefinite useful life. Intangible assets are tested each year for impairment & are carried at cost less any accumulated impairment losses. Any licences granted at lower than fair value are recorded at fair value with the difference being recorded as a contribution in profit or loss.Gaming Licences were recognised at fair value as part of the acquisition of the net assets of Richmond Golf Club Limited. Existing Gaming Licences held by the company do not meet the recognition criteria under Accounting Standards and havetherefore not been recognised in Statement of Financial Position.

n. ProvisionsProvisions are recognised when the group 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 thereporting period.

o. Critical Accounting Estimates & JudgementsThe directors evaluate estimates and judgements incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company.

k. Goods & Services Tax (GST)





o. Critical Accounting Estimates & Judgements continued

Key Estimates

Fair Value of Net assets acquired from Richmond Golf Club LimitedDuring the reporting period the company acquired the business and a substantial portion of net assets of Richmond Golf Club Ltd. The directors have estimated the fair value of the assets acquired (with the exception of gaming licences) as their written down value in the books of Richmond Golf Club Ltd the date of acquisition.

Gaming licences, which were not recognised in the books of Richmond Golf Club Ltd, have had their fair value estimated by directors based on an assessment of the market value of gaming licences in the area at the time of acquisition.

Key Judgements

(i) Going Concern AssumptionThe directors have determined that the group is a going concern and the financial report has been prepared on this basis.

(ii) Business Development ExpenditureThe company is carrying forward expenditure on a number of projects. The merger with the business of Richmond Golf Club Ltd necessitated a postponement in the progress of the majority of these projects. However, the directors have determined that a number of these projects are still expected to proceed and therefore the expenditure should continue to be carried forward. For projects which the directors have determined are unlikely to proceed, the expenditure has been transferred to profit or loss.

p. Interest Free Loans from Aged Care ResidentsThese loans, which are repayable on the departure of the resident, are classified as financial liabilities at fair value throughprofit or loss. The fair value of the obligation is measured as the ingoing contribution, less any legally accrued retention at reporting date. Although these loans are not expected to be repaid within twelve months these obligations are classified as current liabilities, as required by accounting standards, because the group does not have an unconditional right to defer settlement to more than twelve months after reporting date.

q. New and Amended Accounting Policies

Employee BenefitsDuring the year the company adopted AASB 119: Employee Benefits (September 2011) and the relevantconsequential amendments arising from the related Amending Standards, which are mandatorily applicable from 1 January 2013 (As a result the company early adopted AASB 2011-11:Amendments to AASB 119 (September 2011) arising from Reduced Disclosure Requirements because the company's financial statements are prepared under Australian Accounting Standards - Reduced Disclosure Requirements. The company reviewed the annual leave liability. As all annual leave is expected to be taken within 12 months after the end of the annual reporting period it has continued to be classified as a short term employee benefit. The change in accounting standard has therefore had no effect on the financial statements.




2014 2013$ $

2. PARENT ENTITY

The following information has been extracted from the books and records of the parent entity& has been prepared in accordance with the accounting standards.

STATEMENT OF FINANCIAL POSITIONASSETSCurrent Assets 1,352,403 1,015,201

TOTAL ASSETS 39,924,620 38,959,108

LIABILITIESCurrent Liabilities 4,523,107 2,916,119

TOTAL LIABILITIES 18,231,562 16,774,124

EQUITYRetained Earnings 15,703,729 16,195,654 Revaluation Surplus 5,989,330 5,989,330

TOTAL EQUITY 21,693,059 22,184,984

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMETotal Profit (491,924) 122,690

Total Comprehensive Income (491,924) 297,419

3. REVENUE AND EXPENSES

REVENUE

Sale of GoodsBeverage 1,954,406 1,570,456Catering 3,475,136 3,415,983Gymnasium 8,327 13,114 Hair Salon 42,223 34,478 Total - Sale of Goods 5,480,092 5,034,032

Provision of ServicesGaming Machine Revenue 9,302,667 10,298,560 Gymnasium 543,295 587,409 Hair Salon 239,650 145,816 Golf 1,084,948 - Other Services 318,684 255,859 Aged Care Facility 8,073,487 7,754,941 Total - Provision of Services 19,562,731 19,042,584

Total Operating Revenue 25,042,823 24,076,616

Non-Operating RevenueSale of Gaming Licences 549,000 270,000 Less: Written Down Value at Date of Sale (128,000) - Other Non-Operating Revenue 524,583 585,268 Total Non-Operating Revenue 945,583 855,268




2014 2013$ $

3. REVENUE AND EXPENSES continued

EXPENSES

Cost of Goods SoldBeverage Trading 661,529 561,762 Catering 1,290,567 1,156,736 Gymnasium 3,145 7,362 Hair Salon 32,518 15,087 Total - Cost of Goods Sold 1,987,759 1,740,947

Employee Remuneration & Benefits Wages and Salaries 9,665,898 8,803,409 Superannuation Expense 941,230 815,970 Annual & Long Service Leave 800,232 763,981 Fringe Benefits Tax 9,132 23,677 Other Employee Benefits Expense 160,394 196,464 Total Employee Remuneration and Benefits 11,576,887 10,603,501

Other ExpensesCatering Expenses 274,079 278,810 Beverage Trading Expenses 72,124 87,336 Gaming Machine Expenses & Taxes 2,600,154 2,784,759 Gymnasium Expenses 58,970 52,517 Hair Salon Expenses 51,076 44,076 Golf Expenses 438,247 - Membership Expenses 40,926 109,385 Aged Care Facility Expenses 2,013,185 2,205,631 Entertainment & Promotion 1,626,558 1,578,661 Occupancy Costs 823,432 707,205 Repairs & Maintenance (excluding Gaming) 484,996 353,263 Consultancy Fees 208,253 145,032 Insurance 290,661 232,244 Miscellaneous 1,121,171 959,317 Total - Other Expenses 10,103,831 9,538,236

Significant revenue and expenses are disclosed above.

4. SUPPORT PAYMENTS TO THE COMMUNITY

Donations and Sporting Club payments 288,114 318,536

The decrease in donations and sporting club payments of 9.5% from 2013 was offset by a much higher increase in costs applied to specific community welfare and social services under the ClubGRANTS scheme in accordance with the Gaming Machine Tax Act 2001.

This scheme runs from 1st September 2013 to the 31st August 2014 and expenditure for this period are as follows:

31 Aug 2014 31 Aug 2013

Cash Donations - Category 1 and 2 609,201 250,918 In-Kind Donations - Category 1 and 2 35,705 113,170

644,906 364,088

The amount expended in the 12 months to the 31 August 2014 exceeded the minimum expenditure required by the ClubGRANTS scheme by $475,180.

ABN 14 001 034 911


Consolidated Group

RICHMOND CLUB LIMITED & CONTROLLED ENTITY


2014 2013$ $

5. INCOME TAX

The prima facie income tax on profit from ordinary activities before income tax is reconciled to income tax expenses as follows:

The prima facie income tax on net profit before income tax at 30% (last year 30%) (101,520) 54,837

Tax Effect of- Non assessable & non deductible items relating to mutuality 224,383 (75,614) - Other permanent differences (116,793) 53,572 - Prior Year Tax Losses - (12,104) - Current Year Tax Losses 27,296 - - Non assessable & non deductible items due to tax exempt status of subsidiary (46,057) (18,030) Prima facie tax after permanent differences (12,692) 2,661

Tax Effect of Timing Differences- Movement in provisions (12,692) (2,661) Increase in deferred tax assets (12,692) (2,661)

The components of tax expense compriseCurrent Tax - - Deferred Tax (12,692) (2,661)

(12,692) (2,661)

6. CASH & CASH EQUIVALENTS

Cash on Hand 955,153 252,749 Cash at Bank 917,680 228,863

1,872,833 481,612

Reconciliation of cash and cash equivalents

Cash and cash equivalents at the end of the financial year as shown in the statement of cashflows are reconciled to items in the statement of financial position as follows:

Cash and cash equivalents 1,872,833 481,612 Bank overdrafts - (1,476)

1,872,833 480,136

7. TRADE & OTHER RECEIVABLES

CURRENTTrade Receivables 33,008 36,128 Less: Provision for Impairment of Receivables (9,783) (6,000)

23,225 30,128 Receivables - Residents 213,437 212,038 Other Receivables 134,161 288,147

370,823 530,313

8. INVENTORIES

CURRENTAt cost 157,430 129,903



Consolidated Group


2014 2013$ $

9. OTHER ASSETS

CURRENTPrepayments 30,023 155,109 Business Development Expenditure carried forward - 316,287 Expenditure Carried Forward - -

30,023 471,396

NON CURRENTBusiness Development Expenditure carried forward 173,667 189,193

173,667 189,193

10. FINANCIAL ASSETS

NON CURRENTAvailable for sale financial assets 2,335 2,366 Held to maturity financial assets - - Total financial assets 2,335 2,366

Available For Sale Financial Assets Comprise:- Shares in listed company 2,335 2,366 Total available for sale financial assets 2,335 2,366

Held to Maturity Financial Assets Comprise:- Fixed Interest - - Total held to maturity financial assets - -

11. PROPERTY, PLANT & EQUIPMENT

Freehold Land, Buildings and Improvements - at valuation 36,735,974 36,735,974 Less: Accumulated Depreciation (2,908,945) (2,477,875) Less: Accumulated Impairment (40,000) (40,000)

33,787,029 34,218,099 Building Project in Progress 518,445 438,986 Total Land & Buildings 34,305,475 34,657,085

Leasehold Improvements 745,901 - Less: Accumulated Amortisation (65,277) -

Total Leasehold Improvements 680,623 -

Plant and Equipment, Bowling Greens and Poker Machines - at cost 13,746,520 12,825,929 Less: Accumulated Depreciation (9,066,386) (8,129,793)

Total Plant and Equipment, Bowling Greens and Poker Machines - at cost 4,680,134 4,696,136

Leased Assets - at cost 2,082,781 1,533,099 Less: Accumulated Depreciation (1,299,022) (767,742)

Total Leased Assets - at cost 783,759 765,357

Total Property, Plant & Equipment 40,449,991 40,118,578

Consolidated Group

FOR THE YEAR ENDED 30 JUNE 2014 Continued


NOTES TO THE FINANCIAL STATEMENTS


2014 2013$ $

11. PROPERTY, PLANT & EQUIPMENT continued

(a) Movements in Carrying Amounts

BUILDINGS AND IMPROVEMENTSBalance at the beginning of the year 34,657,085 34,711,710 Additions - 105,000 Additions-building in progress 79,460 47,674 Revaluation Increment - 248,726 Disposals/Transfers - (41,604) Impairment - (10,000) Depreciation (431,070) (404,421) TOTAL LAND AND BUILDINGS 34,305,475 34,657,085

LEASEHOLD IMPROVEMENTSBalance at the beginning of the year - - Additions 745,901 - Disposals/Transfers - - Depreciation and Amortisation (65,277) - Carrying amount the end of the year 680,623.42 0.00

PLANT, EQUIPMENT & GAMING MACHINESBalance at the beginning of the year 4,696,136 4,690,398 Additions 956,591 977,186 Disposals/Transfers (30,033) (56,129) Depreciation (942,561) (915,320) Carrying amount the end of the year 4,680,134 4,696,135

LEASED ASSETSBalance at the beginning of the year 765,357 1,088,416 Additions 549,682 88,000 Disposals/Transfers - (33,826) Depreciation (531,280) (377,232) Carrying amount at the end of the year 783,759 765,357

TOTALBalance at the beginning of the year 40,118,578 40,490,524 Additions 2,252,174 1,170,186 Additions-building in progress 79,460 47,674 Revaluation Increment - 248,726 Disposals/Transfers (30,033) (131,559) Impairment - (10,000) Depreciation (1,970,188) (1,696,973) Carrying amount at the end of the year 40,449,991 40,118,577

12. INTANGIBLE ASSETS

Corporate Branding 190,542 190,542 Less: accumulated amortisation (95,521) (67,318) Less: accumulated impairment losses - - Net carrying value 95,021 123,224

Bed Licences at valuation 5,020,000 5,020,000 Less: accumulated impairment losses - - Net carrying value 5,020,000 5,020,000



Consolidated Group


2014 2013 $ $12. INTANGIBLE ASSETS continued

Gaming Licences at Fair Value - Richmond Golf Club Division 160,000 - Less: accumulated impairment losses - - Net carrying value 160,000 -

Total Intangibles 5,275,021 5,143,224

Reconciliation of Corporate BrandingBalance at the beginning of year 123,224 137,456 Additions - - Disposals - - Amortisation (28,203) (14,232) Impairment Losses - - Carrying value at end of year 95,021 123,224

Reconciliation of Bed LicencesBalance at the beginning of the year 5,020,000 4,820,000 Additions at Cost - - Additions at Fair Value - 200,000 Revaluation - - Amortisation - - Impairment losses - - Balance at the end of the year 5,020,000 5,020,000

Reconciliation of Gaming LicencesBalance at the beginning of the year - - Additions at Fair Value 288,000 - Disposals (128,000) - Balance at the end of the year 160,000 -

Gaming Licences were recognised at fair value as part of the acquisition of the net assets of Richmond Golf Club Ltd. Existing Gaming Licences held by the company do not meet the recognition criteria under Accounting Standards and have therefore not been recognised in Statement of Financial Position.Corporate Branding & Bed Licences have been capitalised. Gaming and Bed Licences are considered to have an indefinite life. Although there is no requirement to amortise intangible assets with indefinite lives, the carrying value has been reviewed for impairment. Corporate Branding is amortised over its useful life. The aged care facility is licensed for 141 beds.

13. TRADE & OTHER PAYABLES

CURRENTUnsecured LiabilitiesTrade Payables 886,611 851,207 Sundry Payables & Accrued Expenses 1,524,969 529,154 Gaming Machine Tax 569,341 188,730 Income in Advance 358,594 100,203

3,339,514 1,669,294

Financial Liabilities at amortised cost classified as trade and Other PayablesTrade & Other Payables Current 3,339,514 1,669,294 Non Current - -

3,339,514 1,669,294

Less: Deferred Income (358,594) (100,203) Less: Other Payables (879,489) (283,623) Financial Liabilities as Trade and Other Payables 2,101,432 1,285,468



Consolidated Group


2014 2013$ $

14. BORROWINGS

CURRENTBank Overdraft - 1,476 Bank Bills - secured 722,500 640,000 Hire Purchase Liabilities 106,441 - Lease Liabilities 521,889 334,064 Interest Free Loans - Aged Care Residents 2,306,651 2,263,818

3,657,481 3,239,358

NON CURRENTBank Bills - secured 10,429,088 10,676,163 Hire Purchase Liabilities 117,195 - Lease Liabilities 325,330 544,975

10,871,614 11,221,138

(a) Total current and non-current liabilitiesSecured LiabilitiesBank Commercial Bills 11,151,588 11,316,163 Hire Purchase Liabilities 223,636 - Lease Liabilities 847,219 879,039 Interest Free Loans - Aged Care Residents 2,306,651 2,263,818

14,529,095 14,459,020

(b) The carrying amounts of non current assets pledged as security are:Mortgages- Freehold Land & Buildings 34,305,475 34,657,085

Fixed & Floating Charge- All Other Assets 14,220,566 5,356,388

Total 48,526,041 40,013,473

(c) The bank debt is secured by a first registered mortgage over certain freehold properties owned by the company. The bank also has a fixed and floating charge over all present and future assets and undertakings of the company and its subsidiary.(d) Interest free loans comprise accommodation bonds held from aged care residents.(e) Lease liabilities are secured by underlying assets(f) Hire Purchase liabilities are secured by underlying assets

15. TAX(a) LiabilitiesCURRENTIncome Tax - -

NON CURRENTDeferred Tax Liability on:TANGIBLE ASSET REVALUATIONBalance at the beginning of the year 358,074 283,190 Charged to income - - Charged directly to equity - 74,884 Balance at the end of the year 358,074 358,074

ABN 14 001 034 911


RICHMOND CLUB LIMITED & CONTROLLED ENTITY

Consolidated Group


2014 2013$ $

Deferred Tax Asset on:PROVISIONSBalance at the beginning of the year 181,226 178,565 Charged to income 12,692 2,661 Charged directly to equity - - Balance at the end of the year 193,918 181,226

16. PROVISIONS

CURRENTProvision for Employee Benefits: Annual Leave 546,023 680,370 Provision for Employee Benefits: Long Service Leave 402,583 411,976

948,606 1,092,346

NON CURRENTProvision for Employee Benefits: Long Service Leave 43,933 22,379

43,933 22,379

EMPLOYEE BENEFITSBalance at beginning of the year 1,114,725 1,152,851 Additional provisions less amount used (122,187) (38,126) Balance at the end of the year 992,539 1,114,725

Provision for Employee BenefitsProvision for employee benefits represents amounts accrued for annual leave and long service leave.The current portion for this provision includes the total amount accrued for annual leave entitlements and the amounts accrued for long service leave entitlements that have vested due to employees having completed the required period of service. Based on past experience, the company does not expect the full amount of annual leave or long service leave balances classified as current liabilities to be settled within the next 12 months. However these amounts must be classified as current liabilities since the company does not have an unconditional right to defer the settlement of these amounts in the event employees wish to use their leave entitlement.

In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave being taken is based upon historical data and judgement. The measurement and recognition criteria for employee benefits has been discussed at note 1(g).

17. CAPITAL AND LEASING COMMITMENTS

(a) Finance Lease Commitments payable not later than one year 521,889 334,064 Later than one year but not later than five years 325,330 355,518 Later than five years - 189,457

847,219 879,039

(b) Operating Lease Commitments Payable not later than one yearLater than one year but not later than five years 54,929 - Later than five years 136,779 -

191,708 - (c) Capital ExpenditureCapital expenditure commitments contracted for: - Plant and equipment purchases - -



Consolidated Group


2014 2013$ $

18. EVENTS AFTER THE REPORTING PERIOD

Other than the following, the directors are not aware of any significant events since the end of thereporting period:The company sold the property at 45 Camberwell St Vineyard in October 2014 for $1,095,000.The property is recorded at balance date at a fair value of $1,100,000.

19. CONTINGENT LIABILITIES & CONTINGENT ASSETS

Estimates of the potential financial effect of contingent liabilities that may become payable

Claims:A former contractor has taken legal action against the company claiming a right to certain payments as an employee. These claims are estimated to equate to $160,000. The company's legal advisors are of the opinion the claim will not be successful.

20. CONTROLLED ENTITIES

Subsidiaries of Richmond Club Limited: Hawkesbury Living Pty Ltd

21. RELATED PARTY DISCLOSURES

Transactions between related parties are on normal commercial terms and conditionsno more favourable than those available to other parties unless otherwise stated

Sheldon Talbot, daughter of Group CEO Kimberley Talbot, paid market rent for the company's non-core property at Vineyard 11,500

The names of each person holding the position of director of Richmond Club Limited during the financial year are:G. Luscombe, J. Melody, G. Watterson, D. Bertenshaw, P Chidgey , J. Baker,M Phillips, G Thompson.

The Directors did not receive any remuneration. No director has entered into a material contract with the company since the end of the previous financial year and there were no material contracts involving Directors interests during the financial year. Any purchase of beverages or use of company facilities are on the same terms and conditions as members, non-members and employees.

22. SEGMENT REPORTING

The group operates predominantly in the club industry. The principal activities of the company are the conduct of a licensed social, sporting and recreation club in Richmond, New South Wales.The group also operates an aged care facility and a golf course

23. COMPANY DETAILS

The registered office and principal place of business is the corner of East Market and Francis Streets, Richmond, NSW.

24. KEY MANAGEMENT PERSONNEL COMPENSATION

Key Management Personnel Compensation 1,105,452 1,136,499

Controlled Entities Consolidated

Consolidated Group




2014 2013$ $

25. FINANCIAL RISK MANAGEMENT

The company's financial instruments consist mainly of deposits with banks, short term investments, accounts receivable and payable, and leases. The carrying amounts for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements are as follows:

Financial AssetsCash & Cash Equivalents 1,872,833 481,612 Loans and Receivables 370,823 530,313 Available for Sale financial assets - Shares in unlisted corporations 2,335 2,366 Held to maturity financial assets - -

Financial LiabilitiesFinancial Liabilities at amortised cost - Trade & Other Payables 2,101,432 1,285,468 - Borrowings 14,529,095 14,459,020

26. RESERVES

REVALUATION SURPLUSThe revaluation surplus records the revaluations of non-current assets

27. CORE & NON CORE PROPERTY

The details of the core and non-core property at the end of the financial year is as follows:

Core Property8 East Market St Richmond 25 Woodlands Rd Wilberforce 71 Francis St & Bensons Lane Richmond

Non-Core Property87 Francis St Richmond 5 Toxana St Richmond9 Toxana St Richmond 113 March St Richmond 122 March St Richmond 45 Camberwell St Vineyard


NOTES TO THE FINANCIAL STATEMENTS

Consolidated Group

FOR THE YEAR ENDED 30 JUNE 2014 Continued


CHAIRMAN’S REPORT

Dear Stakeholders,

As the chairperson of the Hawkesbury Living Cancer Trust, I am pleased to present to you the audited Financial Report for the Trust for the year ended 30 June 2014.

As in previous years, we have published these reports with the Richmond Club Group Annual Report to ensure that the public is fully aware of how and where the funds that they have raised for the oncology unit in the Hawkesbury have been allocated. Transparency and community consultation are central to the Trust’s goals and have been since its inception in 2010. Since progress in 2013-14 on the unit has been largely conducted behind the scenes, it is also increasingly important to document our progress to our stakeholders.

I would like to take this opportunity to thank all of our benefactors from this year and previous years for their ongoing support. This is a project that cannot be completed without the assistance of the Hawkesbury community. The Trust has had to overcome some significant challenges to be in the position it is today, and without the knowledge that the outcome of our work would be greatly appreciated by the residents of this

region, we may not have continued. As you will see in the financial report, support has come from a wide range of individuals and groups, all with the common interest of improving health care infrastructure in this area.

2013-14 saw a significant shift in the Trust’s vision and work as Catholic Healthcare announced that they were establishing an oncology unit in conjunction with the existing Hawkesbury District Hospital. At this stage, the Trust’s plan was to develop the unit at the Old Hospital Building in Windsor, which was shelved when this news came to light obviously there was no need for two sites.

After this announcement we were asked to fund their satellite site at the local hospital so our focus then shifted significantly as we worked with the executive of Nepean and Blue Mountains District Health to ensure that any oncology and chemotherapy unit in the Hawkesbury had our support.

The first part of this support is to use the funds raised by the Trust to pay for the build costs and fit out, equipment and partial staffing of the unit with a brief to us that we would be responsible for the shortfalls for a number of years. We have conditionally committed $550, 000 to Nepean Blue Mountains Health District (State Health) for this purpose.

H A W K E S B U R Y L I V I N G C A N C E R T R U S T

The next stage is to work with the area health service to assist in funding the provision of ancillary services for patients in the District, such as health workers, counsellors and other Allied Health Professionals.

There is still much more that needs to be done in order to deliver these services to the Hawkesbury, and although the circumstances have changed, we are committed to working with the relevant parties to ensure that the original vision of the service is met. As 2015 begins, we have negotiated the final plans for the unit to be developed, with recognition for the Trust and the fundraising they have completed on behalf of the community.

Once again, I would like to thank all of our stakeholders for their support, passion and patience for this project. We strongly believe that we are on the road towards completing our goal. I would also like to thank my fellow Trustees for their continued hard work, which is completely voluntary and not remunerated. Finally, my appreciation also goes to the Richmond Club Executive and Board of Directors, whose support has been integral to the Trust’s ongoing efforts.

Yours Sincerely,

Dr Duncan GuyChairmanHawkesbury Living Cancer Trust

F I N A N C I A L R E P O R T


NOTE 2014 2013$ $

INCOMEDonations Received Rotary Club of Windsor - 5,000 Inner Wheel Club - 11,323 Richmond Memorial Women's Bowling Club 660 3,600 Windsor Women's Bowls Club 1,000 2,010 Richmond Club Donation Boxes - 273 Linda Morgan - 70 University of Western Sydney Hawkesbury - 3,328 Mervyth Goldstein - 10,000 Peter Moon 330 522 War Widows - 101 Pitt Town Fishing Club - 15,700 Sydney Markets Foundation - 33,000 Wisemans Ferry Womens Bowling Club - 3,000

1,990 87,926 Fund Raising Receipts Dad and Dave's Race Day Fundraising Event - 85,350

- 85,350

Interest Received 45,413 56,019 TOTAL INCOME 47,403 229,295

D. GUY, P. CHIDGEY, V. LEGGETT, K. GOWER, G. COLLESS AND J. O'BRIENAS TRUSTEES FOR

HAWKESBURY LIVING CANCER TRUST

STATEMENT OF INCOME AND EXPENDITUREFOR THE YEAR ENDED 30 JUNE 2014



NOTE 2014 2013$ $

EXPENDITUREBank Charges 3 26 Depreciation 493 493 Donations - Sydney Markets Foundation - 150 Formation Expenses - Hawkesbury Living Cancer Foundation Ltd 7,101 - Internet Charges - 136 Lease Proposal Expenses 3,891 - Legal Costs - 3,893 Small Equipment Purchases - 95 Sundry Expenses 40 88 Website Expenses 363 2,058

TOTAL EXPENDITURE 11,891 6,940

NET PROFIT 35,513 222,356

INCOME TAX EXPENSE - -

NET PROFIT 35,513 222,356




STATEMENT OF INCOME AND EXPENDITUREFOR THE YEAR ENDED 30 JUNE 2014



NOTE 2014 2013$ $

ASSETS

CURRENT ASSETSCash and Cash Equivalents 2 1,486,831 1,446,300Trade and Other Receivables 3 0 4,526

TOTAL CURRENT ASSETS 1,486,831 1,450,826

NON-CURRENT ASSETSProperty, Plant & Equipment 4 91,015 91,508

TOTAL NON-CURRENT ASSETS 91,015 91,508

TOTAL ASSETS 1,577,846 1,542,333

LIABILITIES

CURRENT LIABILITIES 0 0

TOTAL CURRENT LIABILITIES 0 0

NON-CURRENT LIABILITIES 0 0

TOTAL NON-CURRENT LIABILITIES 0 0

TOTAL LIABILITIES 0 0

NET ASSETS 1,577,846 1,542,333

EQUITYSettlement Sum 100 100Retained Earnings 1,577,746 1,542,233

TOTAL EQUITY 1,577,846 1,542,333

D. GUY, P. CHIDGEY, V. LEGGETT, K. GOWER, G. COLLESS AND J. O'BRIEN



STATEMENT OF FINANCIAL POSITIONAS AT 30 JUNE 2014

AS TRUSTEES FOR



2014 2013$ $

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The trustees of the trust have prepared the financial statements of thetrust on the basis that the trust is a non-reporting entity because thereare no users dependant on general purpose financial statements. Thefinancial statements are therefore special purpose financial statementsand have been prepared in accordance with the trust deed.

No Accounting Standards have been followed in the preparation of thisfinancial report.

The financial statements have been prepared on a cash basisand are based on historical costs unless stated otherwise in the notes.

The following material accounting policies have been adopted in the preparation of this report.

(a) Property, Plant & EquipmentEach class of plant and equipment is carried at cost or fair value less, where applicable any accumulated depreciation. The depreciable amount of all fixed assets including buildings are depreciated on a straight line basis over their useful lives commencing from the time the asset is held ready for use.

2. CASH AND CASH EQUIVALENTS

ANZ Premium Cash Account 334,675 337,731ANZ Term Deposit 1 576,078 554,284ANZ Term Deposit 2 576,078 554,284

1,486,831 1,446,300

3. TRADE AND OTHER RECEIVABLES

CURRENTGST Receivable 0 4,526

0 4,526

NOTES TO FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2014




2014 2013$ $

4. PROPERTY PLANT & EQUIPMENT

PropertyOncology Unit in Progress 90,809 90,809

Plant & EquipmentPlant & Equipment at Cost 1,480 1,480Less: Accumulated Depreciation (1,274) (781)

206 699

Total Property Plant & Equipment 91,015 91,508

FOR THE YEAR ENDED 30 JUNE 2014



NOTES TO FINANCIAL STATEMENTS



STATEMENT BY TRUSTEES

The trustees have determined that the trust is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.

In the opinion of the trustees the financial report comprising of the Statement of Income & Expenditure, Statement of Financial Position and Notes to the Financial Statements:

1. Presents a true and fair view of the financial position of Hawkesbury Living Cancer Trust as at 30 June2014 and its performance for the year then ended.

2. At the date of this statement, there are reasonable grounds to believe that Hawkesbury Living Cancer Trustwill be able to pay its debts as and when they fall due.

This statement is made in accordance with a resolution of the trustees and is signed for and on behalf of the trustees by:

Trustee:…………………………………………………..

Trustee:…………………………………………………..

Dated:

HAWK914/STATE01

27 January 2015

Dr Duncan Guy

Kristen Gower



INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF HAWKESBURY LIVING CANCER TRUST

We have audited the accompanying financial report, being a special purpose financial report, of Hawkesbury Living Cancer Trust, (the trust), which comprises the, Statement of Financial Position as at 30 June 2014, the Statement of Income & Expenditure for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the Statement by Trustees . Trustees’ Responsibility for the Financial Report The trustees of Hawkesbury Living Cancer Trust are responsible for the preparation and fair presentation of the financial report, and have determined that the basis of preparation described in Note 1 is appropriate to meet the requirements of the trust deed. The trustees’ responsibility also includes such internal control as the trustees determine is necessary to enable the preparation and fair presentation of a financial report that is free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We have conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the trust’s preparation and fair presentation of the financial report, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the trust’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the trustees, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As the trust is a small operation with limitations on the segregation of duties, our audit was limited to amounts recorded. Opinion In our opinion, the financial report presents fairly, in all material respects, the financial position of Hawkesbury Living Cancer Trust as at 30 June 2014 and its financial performance for the year then ended in accordance with the accounting policies described in Note 1 to the financial statements, and the requirements of the trust deed. Basis of Accounting and Restriction on Distribution Without modifying our opinion, we draw attention to Note 1 to the financial statements, which describes the basis of accounting. The financial report has been prepared to assist Hawkesbury Living Cancer Trust to meet the requirements of the trust deed. As a result, the financial report may not be suitable for another purpose. DK AUDIT ACCOUNTANTS PTY LTD Chartered Accountants Director: David Kean Dated: 27 January 2015 Signed at 97 Francis Street, Richmond, NSW 2753



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C O N T A C T D E T A I L S

Richmond Club Limited6 East Market Street (PO Box 13)Richmond NSW 2753 AustraliaTel (02) 4578 1144Fax (02) 4588 [email protected]

Hawkesbury Living Pty Ltd116 March Street (PO Box 217)Richmond NSW 2753 AustraliaTel (02) 4578 2966Fax (02) 4578 [email protected]

Hawkesbury Living Cancer Trust6 East Market Street (PO Box 13)Richmond NSW 2753 AustraliaTel (02) 4578 1144Fax (02) 4588 5004

Active86 East Market Street (PO Box 13)Richmond NSW 2753 AustraliaTel (02) 4578 3332Fax (02) 4588 [email protected]

Amber Style and Beauty6 East Market Street (PO Box 13)Richmond NSW 2753 AustraliaTel (02) 4578 5912Fax (02) 4578 [email protected]

Richmond Golf Club34 Bourke Street (PO Box 5)Richmond NSW 2753 AustraliaTel (02) 4578 1739Pro Shop (02) 4578 [email protected]

Wanderest Travellers Park71 Francis Street (PO Box 13)Richmond NSW 2753 AustraliaTel (02) 4578 1144Fax (02) 4588 [email protected]

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2013-14 Richmond Club Annual Report

Documents

Transcript of 2013-14 Richmond Club Annual Report