annual report 2013 - Tattersall`s Club

Transcription

A N N U A L R E P O RT 2 0 1 3
office bearers
Mr Bob Lette
President
Mr Des Whybird
Vice-President
Mr Stuart Fraser
Treasurer
Mr Michael Cassidy
Mr Scott McAlpine
Mr Allan Paterson
Mr Rick Sivyer
Mr Michael Alcorn
Mr Ernie Ward
Mr Michael Paramor AM
President
Vice-President
Mr Bob Lette
Mr Des Whybird
TREASURERMr Stuart Fraser
Committee
Mr Michael Cassidy
Mr Scott McAlpine
Mr Allan Paterson
Mr Rick Sivyer
Mr Michael Alcorn
Mr Ernie Ward
Mr Michael Paramor AM (elected March 2013)
Trustee
Tattersall's Club Nominees Limited
Chief ExecutiveMr Ross Parrott CSC
Mr Ross Parrott CSC
Chief Executive
The following are the Sub-Committees of the general Committee.
The President and Vice-President are ex officio members of each.
FinanceMr Stuart Fraser (Chairman), Mr Des Whybird, Mr Michael Alcorn,
House & Heritage
Mr Michael Cassidy (Chairman), Mr Allan Paterson, Mr Michael Alcorn, Mr Ernie Ward
Membership, Marketing
& Sponsorship
Mr Ernie Ward (Chairman), Mr Scott McAlpine, Mr Michael Alcorn, Mr Rick Sivyer,
Mr Allan Paterson (Chairman), Mr Michael Cassidy, Mr Michael Alcorn, Mr Rick Sivyer
Property
REMUNERATIONMr Des Whybird (Chairman), Mr Bob Lette, Mr Stuart Fraser
RacingMr Bob Lette (Chairman), Mr Scott McAlpine, Mr Stuart Fraser, Mr Ernie Ward
Ta t t e r s a l l ’ s C l u b A n n u a l R e p o r t 2 0 1 3
BUSINESS
Notice of Annual General Meeting
The Annual General Meeting of Members will be held in the Club premises, 215 Queen St Brisbane, at 5.30pm on Tuesday 25
March 2014.
Business:
1.To receive the Annual Report, Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in
Equity, Statement of Cash Flows and Auditors’ Report for the year ended 31 December 2013.
2. Pursuant to Rule 13, elect as President, Mr D.R. Whybird for 2014/2015.
3. Pursuant to Rule 13, declare the result of the ballot to elect the Club Vice-President for 2014/2015.
4. Pursuant to Rule 13, declare the result of the ballot to elect four Committeemen.
5. Pursuant to Rule 53, elect Messrs Grant Thornton Audit Pty Ltd as Auditor for 2014/2015.
6. Motion to Amend Club Rules 3 and 12
Pursuant to Rule 5, a Committee Motion is detailed below to amend the Club Rules to enable introduction of a new Junior
Member category of Club Membership for young men aged between 18 and 21 years.
The proposed amendments are highlighted in bold:
ALTERATION TO THE RULES
Rule 3 (2)
The Club shall comprise of the following Members:(1)HONORARY TEMPORARY MEMBERS – those elected under provisions of Rule 19(b).
(2)JUNIOR MEMBERS – those sons, grandsons and nephews of members between the ages of eighteen (18) and twentyone (21) elected under the provisions of Rule 12(c).
(3)SENIOR MEMBERS – those members elected under the provisions of Rule 19(c).
(4)LONG TERM MEMBERS – those members elected under the provisions of Rule 19(d).
(5)COUNTRY MEMBERS – those members who are at the relevant time ordinarily resident in Queensland or New South
Wales and have their place of business outside that area known as the Brisbane Statistical Division.
(6)CORPORATE MEMBERS – those members elected under the provisions of Rule 19A.
(7)ELDER MEMBERS – those members who are seventy (70) years of age or more.
(8)MEMBERS’ SONS/GRANDSONS/NEPHEWS – those members who are at the time of their election, the sons of
other members. In addition, that grandsons and nephews of members be admitted to membership of Tattersall’s Club
under the same conditions, financial and otherwise, as sons of members.
(9)INTERSTATE MEMBERS – those members resident in Australia but other than in Queensland or New South Wales.
(10)OVERSEAS MEMBERS – those members who are resident outside Australia.
Rule 3 (3)
No persons under the age of eighteen (18) years shall be eligible for membership. Any bookmaking member or any applicant for
bookmaking membership shall hold a current paddock licence or other licence acceptable to the Committee. On surrendering a
paddock licence a bookmaking member shall ipso facto cease to be a bookmaking member. Any bookmaking member may at the sole
discretion of the Committee and subject to such conditions as the Committee shall impose, transfer to ordinary membership without
loss of continuity of membership. Any such transfer shall take into account the period of bookmaking membership in relation to the
waiting time for ordinary membership. Any bookmaking licensee shall be eligible to apply for ordinary membership. No ordinary
member, being a bookmaker licensee, shall enjoy the privileges of the Club which are extended to bookmaking members in relation
to settling and other activities nor shall such member display or otherwise indicate in relation to his bookmaking business his
membership of the Club.
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New Rule 12 (1) (c)
Members’ sons, grandsons and nephews aged between eighteen (18) and twenty-one (21) years may be elected to the Club as
either Junior Members or as full members in their appropriate membership category. Junior Members shall be levied reduced
subscriptions as determined by the Committee, and shall not be required to pay an Entrance Fee. Junior Members shall not
enjoy voting privileges within the Club. On reaching twenty-one (21) years of age, Junior Members must take up Ordinary
Membership or Member’s Sons / Grandsons / Nephews Membership, or the appropriate membership category for their place
of residence, paying full subscriptions and the Entrance Fee applicable for their membership category. Junior Members who
decline to change to the appropriate membership category at age twenty-one (21) years shall have their Club membership
terminated at the discretion of the Committee.
7. Motion to amend Club Rule 19 (d)
Pursuant to Rule 5, a Committee Motion is detailed below to amend the Club Rules to extend the eligibility for Long Term
Membership from 25 to 30 years of consecutive membership. The proposed change would be implemented on a transitional basis.
Long Term Members: Any member having completed thirty (30) consecutive years as a member of the Club shall thereupon become
a Long Term Member of the Club without the loss of any privileges and rights as previously enjoyed by him before he became a Long
Term Member. Any member who has been a financial member of the Club for an aggregate period of thirty-five (35) years or more
may make application to the Committee for the granting of the privilege of becoming a Long Term Member and the Committee shall
decide whether the circumstances warrant the election of the member as a Long Term Member. This Rule shall be applied by the
Committee in accordance with the resolution adopted at the Club Annual General Meeting on 25 March 2014.
8. Motion to amend Club Rules 21 and 22.
Pursuant to Rule 5, a Committee Motion is detailed below to amend the Club Rules to permit Committee Members to attend
Committee meetings using audio or audio-visual technology.
Rule 21 Amendment
(1) The Committee of the Club shall hold a meeting once in each calendar month on a day to be decided from time to time by
the Committee for the transaction of the ordinary business of the Club. Three members of the Committee shall form a quorum.
A Committee member is treated as present at a meeting held by audio or audio visual communication technology if the
Committee member is able to hear and be heard by all others attending.
(2) A Committee meeting may be held:
(a)using any means of audio or audio visual communication technology by which Committee members
participating can hear and be heard by each other Committee member participating; or
(b)in any other way that a meeting of directors of a company may be properly held as permitted by the
Corporations Act 2001 (Cwlth).
(3)A Committee meeting held solely or partly by audio or audio visual communication technology is treated as held at
the place at which the greatest number of the Committee members present at the meeting is located or, if an equal
number of Committee members is located in each of 2 or more places, at the place where the Chairman of the
meeting is located.
Rule 22 Amendment
Any member of the Committee failing to attend three consecutive monthly meetings (unless granted leave of absence) shall cease to
be a member of the Committee. Attendance shall include being present by audio or audio visual communication technology.
9. General Business
Admission to the Annual General Meeting is by Membership Card. Only financial members may vote.
By order of the Committee.
Ross Parrott CSC
Chief Executive
19 February 2014
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I am once again pleased to present
the Club’s Annual Report for the
year ended 31 December 2013. After
a demanding and unpredictable year
last year I am delighted to be able to
report a very successful 12 months
for the Club. Our declared profit
has exceeded budget projections
and indeed our performance last
year – albeit by a modest sum. Our
ability to move forward, even in difficult times, is a good
indicator of the sound basis on which the Club is presently
operating. I think it is also a credit to the judgement and hard
work of past Committees that we are able to enjoy our current
financial stability.
Continued strong returns from the Arcade, favourable
interest rates for our bank loan and the revenue generated by
our Membership Drive have all contributed to this favourable
result. An outstanding fourth trading quarter, particularly
in November and December, contributed significantly to an
outcome that was frankly beyond our expectations.
Nonetheless, some trading operations of the Club were
adversely affected by the generally mixed economic
conditions experienced in 2013. Over the first three quarters
of the year the Club experienced a decline in demand for
some key services. Our food and beverage operations in
particular did not perform as strongly as we would have liked.
While this downturn was largely compensated for in our final
quarter, the sound profit in the Functions and Events area
of the Club was insufficient to address revenue shortfalls in
the dining rooms and the Members’ Bar. This has prompted
your Committee to conduct a major review into the delivery
of our food and beverage services throughout the year. I am
pleased to advise that this Review led by Michael Cassidy –
along with the invaluable advice and guidance provided by
Club Members who are highly experienced in the commercial
provision of these services – will see the implementation of a
comprehensive two year plan designed to arrest losses while
enhancing service delivery within the Club.
Our Accommodation Department has also experienced a
decline in patronage. It is always a temptation to attribute
such a decline simply to poor financial conditions. Certainly
the reduction in business travel experienced over the last
year has had an impact, however, your Committee is of
the view that the Club does not market the benefits of our
accommodation packages well enough. Plans have recently
been completed to do just that with the most obvious change
being the commissioning of a new, more user friendly web
site. This will come on line within the next few weeks. We
must also continue to upgrade our suites to maintain our
attraction in an evermore competitive hospitality market.
Membership of our Health Centre, and subsequently revenue,
has continued to slowly decline. While we cannot compete
with the numerous 24/7 specialist gyms now operating
within the CBD in terms of space, fit-out and equipment;
significant work has been undertaken to upgrade our facilities
and provide a pleasant, convenient and ‘value for money’
option for Club Members. The vision of the Committee is
to eventually provide Health Centre and wellness services
to all Members and their families at no extra cost. Presently
this is not financially viable but windows of opportunity are
being sought over the next five years where this may become
feasible.
The timely completion of our Strategic Plan last year has
positioned the Club well to identify and rectify those areas
in which our performance is sub-optimal. As such we have
been able to complete the following projects and studies in a
manner that has anticipated the declines noted above. These
projects include:
• t he development of a comprehensive Marketing Plan with
external consultancy assistance to reach a wider audience
for our corporate and private functions, events and
weddings;
• a gain with external assistance, a detailed Corporate
Communications Plan has been completed designed
to raise and improve the profile of the Club with key
stakeholders and the general public;
• t he imbedding of a new information technology system
within the Club providing efficiencies in the conduct of
our business and an enhanced analysis capability to study
trends and provide the Committee with more accurate
forecasts;
• t he completion of the Food and Beverage Review and the
development of a concrete plan to rectify shortcomings;
and
• t he enhancement of services, particularly in the Healy
Room and the Members’ Bar to encourage more Member
patronage in the Club.
While your Committee and the staff have worked hard
to improve performance and efficiency within the Club
structure, the real basis of the Club’s success this year must
be attributed to you, the Members. Your strong patronage
and support throughout 2013 has been the foundation of our
current strength. I thank you all for this and urge you to take
advantage of what the Club offers as often as possible.
OPERATING PERFORMANCE
The Club has declared a profit of $1,149,995 which compares
favourably with the profit of $1,000,306 achieved in 2012 and
continues the encouraging growth trend of the last few years.
This sound performance has been achieved in spite of the fact
that our membership subscriptions remain amongst the most
competitive in Brisbane.
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Net Profit
Non-cash adjustment
Net profit
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
-200,000
-
2007
2008
2009
However, there remain some weaknesses in our overall
performance. In essence these are as follows.
• S
ub-optimum cash growth – only some $150,000 against
our declared profit of $1.15 million
• A
n overly high reliance on the revenue provided by the
Arcade to subsidise Member services.
• C
ontinuing increases in essential capital expenditure
required to maintain the Club premises in the manner
that we all demand. Examples of this are an estimated
$500,000 to replace the Club air conditioning chiller
units over the next two years and a further $260,000 to
$300,000 to refurbish and refresh the Members’ Bar area
over the same period. I shall return to this theme later in
my report.
Fortunately, these weaknesses have been countered over the
past 12 months by favourable interest rates on our bank loan
and a significant increase in Arcade revenue received from
our newer international branded tenants. The Committee
therefore remains heavily focussed on the prudent financial
management and structure of the Club while balancing the
competing need to expand and improve Member facilities
and services. In this context, your Committee believes that
the financial performance of the Club in 2013 has been
satisfactory and one we can take pride in.
The graph above illustrates the cash component of the
results for 2013 as compared to previous years and highlights
the modest but healthy growth trend that the Club is
experiencing.
I alluded earlier to the cost of maintaining and improving
our Club premises each year. Members should note that the
Property Sub Committee oversaw numerous major capital
expenditure projects in 2013 including:
• new carpets on Levels 2, 3 and 4 ($195,000);
• t he installation of new air conditioning units in the Club
and Arcade ($185,000);
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2010
2011
2012
2013
• replacement of kitchen flooring ($30,000);
• u pgrade of Health Centre lockers and flooring ($49,000);
and
• establishment of the Club Business Centre ($14,000).
It is appropriate that I pay tribute here to Allan Paterson and
his Property Sub Committee for the outstanding work that
they have planned and executed throughout the year.
In addition, the Property Sub Committee expended over $1.2
million for repair and maintenance tasks (including utilities
and consultancy fees) over the 12 month period. Continued
high expenditure in these areas can be anticipated over the
coming years as more of our infrastructure reaches the end of
its economic life.
It is ongoing property and capital expenditure outlays of this
magnitude that have prompted your Committee to increase
Membership Subscriptions by 3% in 2014. To offset this
somewhat, Members have been provided with a $30.00 voucher
to expend in the Members’ Bar and or Dining Rooms.
PLANNING FOR THE FUTURE
Last year I identified the three primary strategic challenges
faced by the Club. These were:
• membership,
• management of our bank debt, and
• remaining
contemporary and relevant to the needs of our
Members
I believe the Club has made sound progress in all of these
areas over the past year.
The Target 5,200 Membership Drive has proved very
successful. While our overall numbers remain relatively static,
the vital membership category of Ordinary Members is now
growing and declining in age as the graph on the next page
illustrates.
Ordinary Members and Ageing
Average Age
51
Ordinary Members
3000
50
2500
49
2000
48
1500
47
1000
46
500
45
44
0
2007
2008
2009
After many years of decline, this trend is very encouraging
and the Committee is intent on reinforcing the success of our
Membership Drive. The Target 5,200 Drive will be continued
this year with an attractive suite of incentives to encourage
Members to introduce new candidates. In addition, to
attract the next generation of ‘Tatt’s Men’ a motion is being
presented to the AGM in March 2014 to introduce a new
Junior Membership category permitting the sons, grandsons
and nephews of existing Members to take up membership
under very advantageous terms from the age of 18 years.
Next year we celebrate the 150th Anniversary of the
formation of Tattersall’s Club. We should all view this as the
first 150 years of our operation and anticipate the growth
and success of the Club for many more years to come. It
is incumbent on us all to ensure that the right calibre of
Members are attracted to the Club to assure our future and I
urge you all to contribute in this way to the continuation of
our proud history.
Ever since the major building and restoration work
undertaken on the Club premises in the 1990s, the Club has
had to manage a substantial bank debt burden that arose from
this milestone project in the Club’s history. I am very pleased
to report that we remain ahead of projections to halve our
debt level to $11 million by 2017. Favourable interest rates
have worked to our great advantage in recent years and our
Treasurer, Stuart Fraser, has astutely mapped out a schedule
of variable and fixed rate loan facilities that will maximise
interest savings for the Club between now and 2017.
As the strength of our balance sheet grows, the Committee
is already looking ahead to lay the groundwork for future
Committees to be able to entertain ambitious and far
reaching projects in the medium to long term while at the
same time we remain the ‘Australian Private Club of Choice’.
In terms of remaining contemporary and relevant to our
membership, our strategic planning identified the need for
the Club to:
2010
2011
2012
2013
• encourage more younger Members;
• provide more options for partners;
• become more family friendly;
• revisit and refresh our entertainment programmes; and
• c losely monitor the social and business requirements/
expectations of Members.
These are areas in which the Committee believes we should
proceed with measured caution. The ambience and atmosphere
of the Club are treasured by us all. Changes of this nature
need to be at a pace acceptable to the majority of our Members
without endangering those features that set us apart from other
Clubs and have made us, without doubt, the strongest private
membership Club in Queensland if not the country.
Members will be closely engaged as we navigate our way
forward in the coming years.
SPONSORS
I would like to pay a special tribute to our very loyal and
generous group of sponsors and supporters. In particular, the
Committee wishes to recognise the support of Centenary
Classic Mercedes-Benz, Carlton & United Breweries, Hardy
Brothers Jewellers, Travel Associates, PPG Australia, IPG
Print, Southbank Insurance Brokers, Black and White Cabs,
Sky Racing and ALH. Their contributions enrich us all and
contribute to the rich fabric that is ‘life at Tatt’s’.
The Committee and I strongly urge all Members and friends
of our Club to support those who support us!
COMMUNITY SUPPORT
Our philanthropic activities continue to be an important
feature of Club life. The major beneficiaries over the last
twelve months have been Youngcare and Hear and Say.
These organizations provide wonderful support to some of
the most vulnerable members of our society and they do this
with only minimal government support. Our direct financial
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contribution to these and other worthy charities totalled
$67,664 in 2013.
These institutions are working in areas that have a direct
relevance to Club Members and their families and have
recorded their appreciation for the Club’s commitment.
ARCADE
The Tattersall’s Arcade continues to underpin the financial
strength of the Club and it is essential that it continues to do
so. With this in mind, the Committee has negotiated six new
leases to take effect in early 2014 that have further increased
our rent revenue while maintaining 100% occupancy with a
diverse and strong group of retailers. You will have noted the
exciting changes that have taken place so far this year and I
am pleased to advise the future of the Arcade is secure for at
least the next five years.
Our tenants, old and new, constitute a key part of the Club
community and I encourage Members to use our Arcade
tenants’ services in the first instance, noting many provide a
preferential service to Club Members. These offers are listed
on the Club website.
Subsidiary Clubs
I continue to be convinced that the activities and
opportunities offered by our subsidiary clubs are instrumental
to the value offered by Tattersall’s Club membership. The
Committee would like to recognise the work of those few
dedicated individuals who selflessly contribute so much of
their time for the benefit of us all. This year we are likely to
see the establishment of a Shooting Sub-Club and there is
also interest being expressed in the formation of a Cycling
Group. You can be assured that the Committee will provide
all support possible to existing and new clubs as the interests
and leisure activities of our Members expand.
I encourage all Members to look into the advantages of
joining a Sub-Club and the range of sporting and social
activities that they sponsor.
FINANCE
I am pleased to announce Tattersall’s Club has delivered a net
profit of $1,149,995 for 2013 which was $149,689 more than
the 2012 profit of $1,000,306. Included in the profit was an
adjustment which increased the Club’s income by $71,282
in accordance with the accounting standard requirement to
account for rental incentives on a straight line basis over the
life of the relevant operating leases in the Arcade. The profit
improvement can be mainly attributed to the continued strength
of our Arcade (property) rental and lower finance costs.
The year end cash balance of $3,225,015 represented an
increase of $149,259 compared to $3,075,756 in 2012. Across
the year, surplus cash reaching $3,150,000 was used to offset
the variable loan facility resulting in substantial interest
savings for the Club.
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The net profit of $1,149,995 for 2013 although strong is
required just to maintain positive cash flow. At year end our
net cash from operating activities was at $1,824,363, greater
than $1,310,671 in 2012. This was due to improved payments
from debtors (including Member subscriptions) and reduced
finance costs associated with the Club’s loans. The total
cash used for the replacement of ageing equipment totalled
$316,621 and a further $1,346,365 of cash was used for the
repayment of borrowing for the Club’s loans and therefore the
net increase in cash held was $149,259.
The Statement of Financial Position reflects an improved Net
Asset position over last year of $1,149,995 from $28,215,518 to
$29,365,513.
The performance of the major business segments in 2013 are
discussed below.
Food & Beverage
The Club’s Food and Beverage Department produced
an overall segment loss of $78,195 which was a $48,537
improvement on the 2013 result which was a loss of $126,732.
The Club’s function area still produces a reasonable profit
contribution but it was insufficient to offset the losses
sustained in Member dining and bar facilities.
The improved result is mainly attributable to a marginal
increase in patronage and spends per head compared to 2012.
This is an encouraging result with the improvement primarily
attributed to the strong fourth quarter of 2013.
A formal food and beverage review was undertaken in the
second half of 2013 to identify strategies to improve operational
performance. These initiatives have begun to role out in the
last quarter of 2013 and will be fully implemented in 2014.
Management continues to focus on its objective of reducing
costs and improving value to Members without detriment to
service standards.
Membership Subscriptions and Entrance Fees
Membership Subscription and Entrance Fee income
contributed 21.0% of total revenue in 2013. The income of
$2,647,415 in 2013 represented an increase in revenue of
$1,551 from 2012.
Membership income remains an important revenue stream
for the Club despite the adverse financial impact of the
reduction in numbers of Ordinary Members and the ageing
of the membership base moving to lower annual subscription
categories. This will become an increasing challenge in future
years and is the subject of on-going Committee-directed
efforts.
Property
The Tattersall’s Arcade is an important component of the
Club’s non-core business operations, providing 32.6% of the
Club’s total revenue in 2013. This business segment continues
to enable the Club to achieve a strong profit and cash flow
position.
The Health Centre decreased its segment profit in 2013 by
$36,798 from $36,227 in 2012 to a loss of $571 this year.
The segment profit from the Arcade increased by $415,094
from $3,141,652 in 2012 to $3,556,746 in 2013. The improved
performance continues to reflect the strength of the retail
market, particularly in the Queen Street and Edward Street
precinct. This strength, combined with independent advice,
has enabled the Club to draw improved returns as a result of
the rent review mechanisms.
Debt
The ten year finance facility established in 2007 in
accordance with the Club’s Treasury/Debt Management
policy provides a mix of fixed and floating rates of differing
maturity dates. Under the agreement with Westpac, our
total repayments (principal and interest) have been generally
pegged against the net income from our Arcade. The loan
debt was reduced during the year by principal repayments of
$1,346,365. By 2017, the Club expects to have reduced its debt
by $12 million from $23.15 million in 2007 to approximately
$11 million in 2017.
Accommodation
Tattersall’s Accommodation continues to provide members and
guests with excellent facilities in the CBD at reasonable rates.
The Committee has continued to directed resources to ensure
that the accommodation suites are maintained to the high
standards that our members and guests have come to expect
and room rates continue to be discounted for member usage.
The business finance arrangement continues to save the
Club significant interest costs. The arrangement includes a
variable loan that includes a ‘come and go’ facility that has
enabled cash surplus to immediate operating requirements to
be placed against this variable loan balance.
The occupancy rates at 60% for 2013 was lower that of 69% in
2012. Accommodation decreased its segment profit contribution
by $59,671 from $470,608 in 2012 to $410,937 in 2013.
Management is implementing a number of intiatives to
increase occupancy in 2014 to encourage members and their
guests to utilise the Club’s Accommodation.
Repairs & Maintenance
The Committee in 2013 continued the trend of previous
years in recognising the need to continually improve and
maintain the Member areas and infrastructure. During 2013
this included the repairs and maintenance to fire systems, airconditioning, refrigeration, plumbing and electrical works.
Health Centre
The Health Centre continues to represent excellent value for
money for Health Centre Members who continue to enjoy the
upgraded facilities. In 2013 the Committee directed further
investment to the Health Centre with purchase of new
lockers and carpet and the upgraded leased gym equipment.
In 2013, the repairs and maintenance costs totalled $496,925
which was $75,537 greater than the 2012 total of $421,388.
The energy consumption graph below shows a continuing
downward trend in usage against the last three years.
Reductions in energy through energy usage remains a focus
with the scheduled chiller replacement to be completed later
in 2014 early 2015 which will ensure the Club sees continued
savings to help offset the further cost increases seen since
July 2013. There will also be associated savings in repairs
and maintenance due to the capital replacement of this
equipment.
Tattersall’s Club membership fees (Club and Health Centre),
in most cases for Members and their partners, are less than
the annual fees for a city commercial gym and these do not
provide access to the range of facilities including the indoor
pool offered within the Club.
However, there are challenges in competing with a range
of 24 hour gymnasiums opening up within the city which
has been a factor in the membership decline in 2013. The
Committee continues to work with Management to ensure
that the Health Centre is relevant to Members’ standards and
requirements.
Energy Usage
300,000
250,000
200,000
150,000
100,000
50,000
-
Jan
Feb
Mar
Apr
May
2010
2011
Jun
2012
Jul
2013
Aug
Sep
Oct
2014
7
Nov
Dec
Capital Expenditure
The Club acquired $341,262 in fixed assets during 2013 to
replace ageing equipment, which was $39,787 more than
the 2012 total of $301,475. Major items replaced include
new carpet for levels 2-4 and in the Health Centre, the fit
out of the Business Centre, the refit of the Function Office
including all cabinetry, the dance floor for Functions and
Events and the Building Management System which controls
the Club’s air conditioning. Other capital items included the
new gym equipment, electrical appliances and IT equipment.
MEMBERSHIP
Membership at the end of 2013 was 5,137.
Membership by various categories:
Ordinary Members 2,083
Country Members
714
Long Term Members
556
Senior Members
359
Senior Members 2006+
444
Trade Debtors
Elder Members 303
The total amount owed to the Club by trade debtors
(predominantly Member accounts) has decreased by $57,848
from $838,820 at 31 December 2012 to $780,972 at 31
December 2013. The main reasons can be attributed to an
increase in the collection of current debt with the majority of
Members settling their accounts within trading terms.
Interstate Members
122
Overseas Members
276
The Committee continues to place priority in pursuing
outstanding debt and thanks those Members who are able to
attend to their accounts promptly as non payment directly
affects the ability of the Club to deliver services to Members.
Corporate Members
1
Honorary Members
104
Summary
The Committee is pleased to be able to report a strong
result for 2013, underpinned by the financial strength of our
Arcade asset and the interest savings derived from the loan
arrangements put in place for the Club in 2007. As has been
noted previously, membership growth and reducing the Club’s
loan balance remains the strategic focus. Success in these key
areas will contribute to ensuring Tattersall’s Club remains the
‘Australian Private Club of Choice’.
Given the current economic climate, the outlook for the next
twelve months of trading remains uncertain. Despite this,
the Committee remains committed to maintaining services
to the highest possible standard within financial constraints,
risk analysis and scenarios developed for the Club’s 5 year
forward planning model. I encourage all Members to support
the Club’s dining and bar facilities which are well recognised
as providing high quality food and service standards at
competitive prices in a unique environment.
I recommend reading the Financial Statements and
accompanying Notes for the year ending 31 December 2013.
Stuart D J Fraser
Treasurer
8
Life Members Bookmaking Members
Suspended Members
15
5
155
The Club congratulates the following gentlemen who will
become Senior Members in 2014:
Mr David Bain
Mr William Gibson
Mr Barry Batson
Dr Ronald Hambleton OAM
Mr Roger Bell
Mr Peter Henley
Mr David Blanch
Mr Peter Higginbotham
Mr Ivan Board
Mr Jonathon Hogan
Mr William Bradley
Mr Ross Humphreys
Mr Francis Bromley
Dr Ronald Hurst
Mr Stephen Carew
Mr Anthony Jackman
Dr Walter Carter
Mr Mervyn Jarvis
Mr James Cavaye
Mr Terence Jennings
Mr Brendan Clark-Coollee
Mr Marcus Johnson
Mr Timothy Courtice
Dr John Keys
Mr Robert Cranstoun
Mr Robert Lette
Mr Peter Crawford
Mr James Lewis
Mr Shane Curran
Mr Stephen Lonie
Mr John Dimitriou
Mr John MacGillivray AM
Mr Patrick Dixon
Mr James Drapes
Mr John Maclean MBE
Life Member
Mr Robert Duff
Mr Barry Marsden
Mr Keith Ellis
Mr John Martin
Mr Donald Ferguson
Mr Peter Mathews
Mr Malcolm Finlayson
Mr John McClenahan
Captain John Foley
Mr William McCluskey
Mr Kenneth Fraser
Mr Malcolm McEnery
Mr James Frayne
Mr Neil McLauchlan QC
Dr Christopher McSweeney
Dr John See
Mr Leo P Roessler
Mr D E (Ian) Thompson
Mr Walter Noble
Dr Brian Sheahan
Mr George H Savage
Mr Timothy Tier
Dr Gregory Ohlrich
Mr John Sinnamon
Mr Willam T Simpson
Mr Thompson Chin Po Toh
Mr Jeffrey Oke
Mr Donald Steele
Mr Milton Stavrou
Mr Raymond J Turner
Mr David Peel AM
Mr Andris Stenders
Mr William A Stockwell
Mr Mervyn C Warren
Mr Peter Power
Mr John Wade
Mr Donald H Svensen
Mr Kenneth C Wright
Mr Stewart Rapson
Mr Noel Whittaker AM
Mr Wally R Taylor
Mr Murray Rowley
Mr Michael Wilson
The Club congratulates the following Members who received
honours and awards in 2013:
The Hon. Justice John Byrne AO RFD
Mr Greg Vickery AO
Mr Clive Weeks AO
The Hon. Justice John Dowsett AM QC
The Hon Michael Horan AM
Backseaters Cricket Club
Dr Ian W Marshall AM
The Backseaters Cricket Club has enjoyed another active year.
Major General Stuart Smith DSC AM
Our annual internal game “Captains XI “ v “Presidents XI”
was a 35:35 game played in March at the BBC grounds. The
short boundaries brought up many 4’s and 6’s making for a
competitive run chase of 220 resulting in a narrow win to the
“Presidents XI”.
Mr Norman Innis OAM
Mr Russell J Loane OAM
Mr Shane Macdonald OAM
Mr William Ross OAM
VALEDICTORY
We mourn the passing of the following Members and we
extend our sincere sympathy to their families:
Mr John F Acraman
Mr Arch Anderson
Mr Spencer R Anderson
RFD
Mr Frank C Bayly
Mr Robert (Wren) Bligh
Hon Neil J Buckley
Mr Thomas C Campbell
Mr Peter B Charlton
Mr Douglas S Cowell
Mr Donald (Beau)
Cowlishaw
Mr Noel J Cranstoun
Mr Neville G Halligan
OAM
Mr Peter A Herd
MR Roger J O Herring
Mr Patrick Hoiberg
Mr S B King
Mr Beresford Mac Lamond
Mr Donald A McDonald
Mr Walter J Moody
Mr P John Moore
Mr Roland A Muster
Mr Patrick E P O’Brien
OAM
Dr Michael F Donoghue
Mr Brian Ogilvie
Racing Club Life Member
Mr Raymond R Dorrstein
Mr Carlo G Olivero
Mr Michael T Finucan
Mr Desmond J Perkins
Mr John M Florence
Mr Maxwell A Perrins
Mr Joseph J Goff
Mr David A Pie
Our annual game against the Gold Coast Masters was played
at Ashmore in November. Played in good spirits, we prevailed
against a competitive mix of Gold Coast characters who were
more concerned about their horses running that day than
chasing our run total.
The highlight of the year was our traditional game against the
Queensland Schoolboys U 13 XI, an annual game that dates
back to the Ray Lindwall era of the 1950’s. A 20:20 game
was played at Souths Cricket ground on 31 December, where
Tattersall’s bowled first and kept the schoolboys to a score
of 106. At the innings break, the schoolboys were presented
with their Queensland caps, which they all donned with
pride taking the field to defend their score. The Backseaters
managed to successfully chase the 107 for the win in the 19th
over, retaining the “Joe Raymond Trophy”. Annually, we
provide the schoolboys with sponsorship to assist with playing
in their interstate carnival representing our state.
Looking forward to 2014 and beyond, we are always looking
for members who wish to join the Backseaters. We have many
games scheduled for 2014, and we are planning a team to
compete in a Masters’ Tournament in Cape Town in March
2015. Any members who are interested in a competitive and
friendly game are welcome to contact me.
James McKay
President
9
BOWLS CLUB
It is with very much pleasure as President of Tattersall’s Bowls
Club, I present the 65th Annual Report for 2013. Another
year has passed and I would like to thank my Committee for
their contributions in making this another successful year.
Thank you to Brian Bennetts for organising and running the
Competition.
To all our Members and their ladies “Thank You” for
supporting our “away playing” days. There have been some
great days, particularly Boonah.
Two of my Committee I would like to thank for the
dedication they have given to their positions. They are
Craig Francis (Secretary) for all the paperwork that is always
presented on time and for the time spent organising the
Donation’s List that makes our Charity Day such a success.
In 2014 we are starting a new “away day” between Manly
and Tattersall’s at Manly Bowls Club. We will be playing for
the “Fellowship Trophy”. This day will be held at Manly on
Sunday 30th March 2014. It would be great to have a good
attendance for this day.
Brian Bennetts (Selector and Publicity Officer) – Thank you
once again for your Editorials in the “Tattler” Magazine and
arranging the selection of Players in our “away” games and
also the “Meiklejohn Pairs” Competition.
Our Christmas Lunch was held in the Templeton Room and
Racing Bar at Tattersall’s Club on Tuesday 19th November
2013. 45 ladies and men attended. I would like to thank
Carolyn Arkinstall (Secretary and sister of Craig Francis)
and Judy Watts (daughter of Ern and Gloria Wood) who
helped with our Club during the 2013 year. Carolyn was in
attendance but Judy had to give her apologies because of
work commitments. Cherryn Lomas played beautifully on the
piano. Brian Bennetts and Neil Duncalfe led us in song.
The Club has two resignations from the Committee in 2013.
They were Mort Howes and Peter London. I would like to
thank them for the contribution they made to the meetings
during their time on the Committee.
During the year one of our long time Members Errol Stewart
passed away. His funeral was attended by Brian Bennetts,
myself and my wife Gloria.
During the year we welcomed two new Members to our
Committee. They are Ken Leitch and Dean Merlo.
The Annual Australian Turf Bowls Carnival was held in
Canberra and played at the Canberra City Bowling Club
from 7th to 11th April 2013. Brisbane had a complement of 17
bowlers and 8 ladies. Brisbane won the 2013 Carnival. This is
the third time since our win at Terrigal in 2009 and Sydney
in 2012. Well done fellows. The Carnival will be held next
year in Melbourne from 6th to 10th April 2014.
On 12th September 2013 we held our Annual Charity Day
at St Lucia Bowls Club. Our profit was $4,576.00, allowing
us once again to donate $2,500.00 to each of our Charities –
Montrose Access and St Vincent’s (Mt Olivet) Hospital.
We would like to thank St Lucia Bowls Club, its President
and Members who supported us on the day.
To all our sponsors and Members who supported us on
Charity Day – “Thank You” for your donations and to all the
bowlers who played on the day.
To the President of Tattersall’s Club, Mr Bob Lette, CEO Mr
Ross Parrott and the Committee of Tattersall’s Club “Thank
You” for the support you have given us financially during the
2013 year and the donations towards our Charity Day.
As I write this report the final of the Meiklejohn Pairs Bowls
Competition has been completed. It was played at Hamilton
Bowls Club on Saturday 14th December 2013.
The Winners – Bernie Carroll and Neil Finlayson.
The Runners-up – Garry Ryan and Will Charlton.
10
Everyone had a great day.
Finally, once again, I would like to ask all Members to attend
as many games as possible during the 2014 year for without
your support our Club will not survive.
Ern Wood
President
GAMES DIRECTOR’S REPORT 2012
Social Bowls
Our social calendar of visits to other Clubs began with a visit
to Manly. They have just put down a synthetic green. The
visit was so successful that we are in future going to play and
compete for a “Fellowship Trophy”. Our other trips were to
Boonah, St Lucia Bowls Club, Mt Tamborine and the Gino
Merlo Memorial Day played at New Farm Bowls Club, where
we signed up two new members.
Interstate Games
The competition for the Turf Bowlers’ Carnival at Canberra
was much tougher this year. We won our games by smaller
margins on the first two days. Dean Merlo saved our bacon
on the second last game of the third day of the competition
with a magnificent drive, which enabled us to be in an
unbeatable position playing the last game. This win makes it
three from the last five years. It was a wonderful achievement.
Considering, prior to this period, we had not won a Carnival
for 33 years.
Our trip to Yamba to support the Insurance Bowlers was
successful, although the result was very close. It was the first
time in 35 years in the competition’s history that a draw was
recorded. Queensland won last year, so they retained the
trophy.
Tattersall’s Charity Day
22 teams came to support our two charities, Montrose Access
and St Vincent’s Hospital, which was four teams up on last
year. All in all the day was a great success. For the first time,
we had two ladies’ teams. I spoke to the Ladies’ President and
she has assured me that next year she will try to do better.
I thank all those who helped to make my job easier, especially
Jack Hansen whose skill and advice was put to good use
during our trip down to Canberra.
Contacts:
President:Ern Wood
(wood85@bigpond.net.au)
3831 9886
Games Director:Brian Bennetts
(brianbt@bigpond.com)
3366 1279
Committee:Bernie Carroll
3262 3505
(bernardcarroll@optusnet.com)
Craig Francis
(cfrancis@regulus.com.au)
3236 1245
Dean Merlo
(dean@merlo.com.au)
0414 637 567
Brian Bennetts
Games Director
Golf Club
Once again 2013 saw the Golf Club go from strength to
strength with increased numbers participating in 22 games on
17 of South East Queensland’s finest golf courses.
To Bob Lette, his committee and staff, we again thank you
for the secretarial, administrative and financial support
throughout the year.
Thank you to all our sponsors during the year for making it
a privilege to win their trophies. A special thanks to Ernie
Ward of Centenary Classic Mercedes Benz, Derek Barlow of
Tony Barlow’s Menswear, Dennis Roel of Reliable Printing,
Ian McFarlane of McFarlane Jewellers, Robert Gauld of
Robert’s Clothing for Men, Graeme McDuff of Golf Gurus,
Aspley and David Brett, National Australia Bank. We look
forward to the continued support of all sponsors including
several new major sponsors in 2014.
There is an increased program of 25 games during 2014
including two Monday games at Royal Qld Golf Club and
Gainsborough Greens Golf Club.
The club provides a bus to all Gold Coast and Sunshine
Coast games for the Members and guests ensuring the
friendship of Tattersall’s Golf Club.
To assist Members with maintaining their AGU handicaps,
the club enters all games into Golf Link.
While the numbers for the AGM, Presentation and Awards
Dinner on Wednesday December 4, 2013 were disappointing,
a great night of fine wine, food and friendship was enjoyed
by everybody who attended. It was very pleasing to have Golf
Club Life Members, Leo Thomsen and Eric Oxenford in
attendance.
Trophy Winners for 2013 were
The weather did give us many challenges during the year,
however there were many memorable games with over 50
individual winners of the 4BBB and single stableford events.
Club Champions:
The success of the year was due to the outstanding efforts of
a very dedicated committee. It has been a privilege for me
to be the President of this committee and I would like to
give a special thanks to our Club Man of the Year, Dennis
Roel, Captain Peter Symons and to our Handicapper, Eric
Oxenford.
President’s Cup 2012 Maurice Miller /
Ernie Ward
We also welcome back long serving committee man, Peter
Skirving to the committee as our Secretary.
The Committee for 2014 is:
President:
Barry Aaskov
Captain:
Peter Symons
Vice-Captain:
Dennis Roel
EVENTWINNER
Woodrow Cup Vern Rasschou
Jim Watson Memorial Trophy Ernie Ward / John Foote
Tattersall’s (Gilbey) Cup Vern Rasschou
Memorial Day Trophy Alastair Ward
Mug of Mugs Warwick Oxenford
The Claimer’s Cup Jack Andersen /
Peter Harding
Bob Templeton Shield Paul McLaughlin /
Maurice Miller
Hon. Secretary: Peter Skirving
Robert’s Menswear
Hon. Treasurer: Michael Cassidy
(Best Nett 36 Holes Club Champ) Paul Bennett
Committee:Eric Oxenford, Robert Gauld and
Michael Cosgrave
Best Single/Stableford Player Maurice Miller
Port Douglas Cup/Trophy Jack Andersen
The Oscar
Maurice Miller
11
Congratulations to the 2013 Club Champions:
A Grade Warwick Oxenford
B Grade Paul Bennett
C Grade Maurice Miller
Special mention needs to be made of Warwick Oxenford’s
13th A Grade championship which commenced with his first
win in 1995.
Again the Port Douglas Golf Trip was a great success with
36 players enjoying the hospitality of the tropical north. In a
very close contest over four games, Jack Andersen proved to
be the worthy winner of the Cup.
The 2014 Port Douglas/Cairns trip is scheduled for July
20 – 26 and all Members and friends are welcome to enjoy
the friendship of Tattersall’s Golf. Please contact Paul
McLaughlin on 3255 3393 or email luggagepointkid@gmail.
com or any Committee Member for trip details.
Tattersall’s Golf Club was founded in 1930 and has a
reputation of great competition and friendship over many
years. We invite new Members to join the Golf Club by
contacting Captain Peter Symons (0419 703 557) or Michael
Cassidy (0417 642 390) to obtain a registration form. We
also encourage Members to bring friends to experience the
hospitality of Tattersall’s Golf.
Again we thank the parent Club, the Sponsors, Members and
friends for making 2013 a very enjoyable and successful year.
Many friends have joined Tattersall’s Club as a result of first
enjoying the golf.
Barry Aaskov
President
MOTORCYCLE CLUB
It has been a great pleasure to take over as President of
Tattersall’s Motorcycle Club in 2013.
Founding President, Casey Stringfellow, stepped aside to
Secretary mid year and remains an intrical Member of our
Committee.
I have immensely enjoyed working closely with Casey and
sharing our vision from the outset to develop TMC to where
it is today.
I would like to thank the Committee - Bernie Orrock,
Mike Wilson, and Casey, for their continued support and
enthusiasm to TMC.
This year brings TMC to seven years strong and has also
seen the creation of our Off Road Club, TOMC, headed
by President Shane Lockland and Vice-President Andrew
Kazakoff.
Our Membership remains strong at 47 with several new
Members joining in 2013. Our Guest and Affiliates list of
12
62 has been a strong facilitator for the introduction of new
Members to our Tattersall’s Club with 2012 / 13 bringing 19
new Members to Tatts.
Our thanks go to Tatts and TMC Member, Mark Luxford,
Director of his “PowerSports Marketing” Company, for his
valued input to our visibility and the creation of our TMC
Facebook site.
Benefits to TMC Members has been further strengthened this
year with the support of Oliver’s Motorcycles at Moorooka.
Owner, Michael Oliver, and his Team have over 50 years
of experience in the industry and offers exclusive pricing
and advice to TMC Members on everything to do with
Motorcycling.
Our outings are generally once a month, being the third
Sunday, and this year again took us on some of the most
scenic routes the south, west, and north has to offer.
Generally through the mountainous regions with interesting
and diverse routes complemented with spectacular views.
Our last ride for the year was enjoyed in November with
what is now our traditional lunch at Key Restaurant “Tastes
of Africa” Maleny, which is owned and operated by Tatts
Country Member Luke Butler. Luke’s wife, Simone, is the
Chef at Key, and the team looked after us once again with a
wonderful lunch on the verandah.
Continuing with tradition our TMC Christmas Party was
held in the Healy Room and many plans for the year ahead
were tabled.
Our Tattersall’s Club remains the main venue for social
gatherings with TMC a strong supporter in numbers at all
Tatts events where possible. Tatts New Members’ nights are
a keen focus for TMC and a wonderful opportunity for the
representation of the Sub Clubs.
TMC continues to be a pivotal point in social and business
networking and again this year has attracted international
interest through affiliates and associated companies.
TMC Members contribute an annual fee of $50 which
provides for a TMC embroidered Polo Shirt, TMC branded
Leather Key Ring, and certain social outings. Additional
funding is provided by Tattersall’s Club which has seen TMC
heavily invest this funding into our events throughout the
year, along with further development and exposure of TMC
and Tatts Club itself.
As a Sub-Club TMC enjoys an ongoing transparent
relationship with Tattersall’s Club on all matters.
We would like to sincerely thank Tattersall’s CEO Ross
Parrott, President Bob Lette, Committeeman Mike Alcorn,
and Committee for their ongoing support and interest in
TMC. Also a special thanks once again to all the Team at
Tatts for looking after us with their exemplary service and
attention to detail.
The New Year ahead will again be a busy year with even
more outings on two wheels, including overnight stays, and
weekends away. February will see our first route out to the
South West followed by Tangalooma Resort on Moreton
Island hosting a TMC Escape weekend in late March.
It is pleasing to see that our Sub-Clubs offer unique interests
and benefits to all Members and further strengthen Our
Tattersall’s Club as Australia’s Premier Private Club.
TMC welcomes all Members and their guests to join us at any
time be it on two wheels or four.
Amicitia Vita Est
Edward Profke
President
RACQUETEERS CLUB
Christmas is traditionally a time when the routines of the
year are forsaken for some rest and recreation, but such is
the commitment of the Racqueteers to their chosen sport
that this hiatus is considered, not something to savour, but
an unwelcome irritant to be despatched with all haste so
that the weekly Thursday appointment at the Morningside
Tennis Centre can be resumed, regardless of the scorching
temperatures which prevail at this time of year.
It is heartening to note that their enthusiasm remains
unabated and while we have supplemented our ranks with
some younger talent over the last year or two, it is beyond
debate that some more new blood to maintain the popularity
and fine traditions of our coterie would be more than
welcome.
Perennial club champion Ron Hambleton has taken his
considerable talents to the international stage and culminated
a fine playing career by not only being selected to represent
Australia this year in the ITF Super-Seniors World Teams
Championships in the Czech Republic but taking out a
bronze medal at his first appearance, for which he deserves
our hearty congratulations.
It was a year when some of our most popular players, Darby
Munro, Phil Waight and Paddy Knapp, were beset by serious
health concerns but thankfully all seem to have recovered
well and will carry their fighting spirit and our best wishes
through into 2014.
The Ron Hambleton Handicap Singles Championship
produced what could be regarded as a predictable result with
Rick Rylands, after having won in three of the last four years,
again emerging victorious despite being laden with a massive
handicap, but his path to the final was anything but smooth
as, in an earlier round, Jon Hogan dominated their match
but sportingly forfeited to Rick with match points in hand as
he could not guarantee his availability for the later rounds.
Rick’s good fortune was increased when his dangerous finals
opponent Nick Zappulla was hampered by injury on the day
and could not provide his usual spirited opposition.
No such problems hindered Rick’s progress in the Regis Cup
Open Singles Championship, as, freed from the burden of a
handicap, he swept all before him to take out the trophy for
the fourth time in a row, against Eddie Burke.
Relatively new member Don Griffin is fast improving to
becoming one of the most consistent players in the club,
and in teaming with new Member Michael Stewart, forged
a formidable partnership to take out the Peter Geraghty
Memorial Doubles Championship without dropping a set
along the way. They handled the gale force winds in the
final with ease to comprehensively overcome Jon Hogan and
Adrian Symons.
While the Racqueteers fared poorly in the Inter-Club
Tournament hosted by the Downs Club in July, we did
manage to wrest back the trophy from the Queensland Club
the following month, thereby restoring some measure of
self-respect to us after a patchy recent history in this longestablished event.
Not being driven solely by self-indulgence, we expanded our
social horizons by including our wives in the Club’s Christmas
in July dinner. This was prompted by an inspired suggestion
from John Hackett, and it is fast becoming a well-supported
tradition, providing a fine supplement to our annual Trophy
Night which has been held on the last Friday in November for
over thirty years now – a considerable passage of time, as the
deteriorating appearance of the participants would confirm.
Our lunches at the Club on the first Monday of each month
throw up a variety of attendees but are consistently funny
and well patronised events away from the competitive
environment of the tennis courts and provide us with an
opportunity not only to enjoy each other’s company but to
patronise the Club, where we are most ably provisioned and
attended upon with grace and good humour by the Dining
Room staff.
Our end of year break up has always seen us mount an assault
on Sanctuary Cove but with the disruption of their facilities
due to remodelling we have had to cast our eyes further afield,
and after a few misfires, our esteemed Secretary Bob Gardner
winkled out the tennis courts attached to the Emerald Lakes
Golf Course, and after our second year there all are agreed
that its choice was a masterstroke.
For their sins, and in the forlorn hope that their performance
might improve with practice, the existing Committee has
been returned unchanged:
The Club in its wisdom has seen fit to reappoint the previous
Committee, so the office bearers for 2013 are:
President
Adrian Symons
Secretary
Bob Gardner
Treasurer
Ron Woodhouse
Court Captain
Kos Psaltis
Adrian Symons
President
13
ROWING CLUB
rowing club’s endeavours, we must negotiate a better set of
conditions for our Club in 2014.
I submit this, my fourth Annual Report as President of the
Tattersall’s Rowing Club.
The challenge and responsibility for taking the club forward
in 2013 fell upon a committed group of fellow club Members,
all of whom contributed in their own ways, to ensure that our
Rowing Club ran smoothly, throughout the year.
My sincere thanks go to Club Captain, Bill Bridgeford,
Treasurer, Peter Schmidt, and Committee Members, Thea
Sitcheff, Kim Forrest-Winchester, Cheryl Herbert, Greg
Clarke and Kaye Pulsford for their various contributions to the
organisation and direction of the Club’s activities, in 2013.
An enormous debt of gratitude is also owed to Rebecca Webber
of Doboy Cold Stores, whose effective management of the
Club’s administration must be applauded!
For the sake of posterity, I have listed a précis of the more
notable of the club’s activities for 2013, below:
The Rowing Club’s governance was regulated across several
dimensions. Our Committee gathered on several occasions
throughout the year in the very convivial surrounds of the
Presidents’ Room; at various times throughout the year,
our Committee Members attended the UQBC Committee
Meetings, as a pi-partisan gesture; and the Rowing Club
was duly represented at the AGM and monthly Presidents’
meetings, convened by Rowing Queensland.
Club Finances:
Once again, the Rowing Club finished the year in the black,
with a modest balance showing in the Club’s bank account.
Club Membership:
The number of people actually rowing on a regular basis
peaked at 37 in 2013. Regrettably, we have seen a number of
our old and dear friends depart the club, during the past few
years. Being a competitive Masters’ Rower requires a level
of personal commitment that has the potential to create
conflict in other quadrants of one’s life. Perhaps the incoming
Committee could explore the development of two membership
streams, competitive and social, to accommodate the needs of
a broader number.
Regattas:
Building on the successes of 2012, our rowers embarked on a
very full regatta program for 2013 and they certainly got value
for their money! The racing season opened in February, with
the Pine Rivers’ Regatta, featuring events for Single Scull,
Double Scull and Pairs, only. The Brisbane & GPS Regatta
followed in March.
The Queensland Masters’ Regatta was held in early April.
This year’s Queensland Masters’ Regatta with its 84 events
raced over two days was a great event for the 258 competitors
in attendance. Tatts rowers combined well with our UQBC
counterparts to bring home medals in 36 events.
The last week of April saw a contingent of rowers head down
to Canberra to compete in the Australian Masters’ Regatta,
on Lake Burley Griffin. Whilst several Tatts crews rowed well
enough to reach the finals, it was the fiercely competitive
Katherine Lambros who stole the show, bringing home three
silver medals in her pet sculling events. Tattersall’s combined
once again with our great friends from UQBC to register 65
entries and capturing six gold medals and three silver medals
along the way! Special thanks to Bill Bridgeford, Ralph
Krippner, Greg Clarke and Michael Sparksman for managing
to deliver our boat laden trailer safely to their destinations, in
both directions
The 2013 Brisbane Winter Racing Series commenced in May
and concluded in June. This novel event was enthusiastically
embraced by the Brisbane rowing community. Participating
crews were invited to race head to head over a distance of
7 kilometres, starting alongside the Tennyson Tennis centre
and finishing at the Toowong Rowing Club at St Lucia.
Races were held over five consecutive weekends with the
two top crews from each division winning a spot in the
finals. Tattersall’s were well-represented in this event, with
a Women’s’ Eight and two Men’s Eights flying the Club’s
colours.
Our Learn to Row Program during 2013 was again very ably
co-ordinated by Ms Jessica (Jaie) Mauger.
In August, the opportunity to travel to Italy, to compete in
the World Masters’ Games Regatta and to party in Torino
was a temptation simply too irresistible to ignore for Greg
and Bink Clarke, John and Sue McCafferty, Thea Sitcheff,
Cheryl Herbert, Bill and Margie Bridgeford, Peter Camphin,
Cliff and Julie Fisher, Michael and Mary Sparksman, Patrizia
Cocchis, Beate Leitner and Kaye and Ray Pulsford.
For the second year in a row, our efforts to drive this aspect of
the club to achieve its full potential were repeatedly frustrated
by the unavailability of suitable equipment throughout the
year. As a well-patronised L2R Program is a vital aspect of any
From all reports, the heat was intense, and the racing fierce.
Our rowers enjoyed great personal success on the water, with
all managing to secure at least one berth in the finals of at
least one of their chosen events.
Learn to Row:
14
Social Events:
In July, the two clubs, Tattersall’s Rowing Club and the
University of Queensland Boat Club, came together as one
to celebrate achievements and friendship at the Annual
Presentation Dinner. Our Members were well fed and watered,
amid the splendour of the Members’ Dining Room.
Recipients of our premier awards were David King, Oarsman
of the Year and Katherine Lambros, Oarswoman of the Year.
Coaching:
were warmly received and enjoyed friendly matches among
good company. Our overseas tour took us to Singapore, where
we met up with old friends, playing the Singapore Cricket
Club and the Tanglin Club, and then for the first time on
to India to play three clubs in Mumbai, the Cricket Club of
India, where we stayed, the Bombay Gymkhana Club and the
Malabar Hill Club. The high standard of play of each Club’s
Members meant we were honourably defeated at snooker, but
as we have experienced many times on our Asian trips, the
results were less important than the friendly welcome and
superb hospitality we received from our hosts.
Special thanks must be extended to Bill O’Chee, Katherine
Lambros, Michael Toon, Jennifer Gilbert and Kathy Phillips
for giving their time and sharing their many years of rowing
experience with others in the Club, throughout the year. We
are very fortunate, indeed to have had access to coaches of
their calibre working to develop the skills of our Members.
On the home front, we again entered the Queensland
Billiards and Snooker Association annual league competition
in C Grade, under the captaincy of Michael Needham,
improving considerably on our results of last year. We intend
to enter again this year, and also possibly enter a team in the
Billiards.
Relationship with UQBC:
Also repeated were our friendly matches against the
Queensland Club and the Brisbane Club on a round robin
basis, where we were fortunate in losing only one of our
matches, leaving us clear winners. It is gratifying to see that
the original purpose of these matches, to engender greater
enthusiasm for the game, and use of their Billiard rooms, by
the other clubs’ members, is clearly working, and they have
little difficulty getting a team of six together each time, with
the Queensland Club fielding a team of eight in their home
game.
I sincerely thank my counterpart Richard Powell, President of
UQBC, and his executive for their friendship and bipartisan
support, throughout 2013. May we all continue to pull
together in 2014.
In closing, I wish to express my heartfelt thanks to all those
who proudly wore the Tatts Zootie in 2013. Your friendship,
your support, your energy and enthusiasm sustained me, once
again, throughout the year.
I must also acknowledge the enthusiasm and support shown
by the Committee of Tattersall’s Club Brisbane, for the
endeavours of the Rowing Sub-Club, throughout 2013. In
particular, my sincere thanks to President, Bob Lette; CEO
Ross Parrott and the administration staff of the Tattersall’s
Club, for their continuing support and good humour,
throughout 2013.
David O’Brien
President
SNOOKER CLUB
Another successful year for the Snooker Club saw a number
of firsts for us, at the same time continuing as one of the most
active sub-clubs with a thriving membership.
One of those firsts, and which pleased us most, was the parent
club making our revered and long standing handicapper, Leo
Thomsen, a Life Member of the Club, which was a welldeserved honour recognising the outstanding service he has
given to the Club over many years, not only to the Snooker
Club but also to the Tennis and Golf Clubs.
Our two snooker tours this year were also firsts for us, one to
Perth, which we had not visited as a team before, to play the
Weld Club and the Lake Karrinyup Country Club where we
Our own annual competitions were as ever extremely well
managed by Ray Garske, our Games Director, in sometimes
trying circumstances, and his efforts in this regard deserve
our appreciation and thanks, particularly as he is standing
down this year after many years dedicated hard work in this
role for which we are extremely appreciative and grateful.
We welcome Malcolm Bramley as the new Billiard Room
Marker and he has made an excellent start keeping things
in order, looking after the tables and, in particular, sorting
out the many unused cues belonging to long since departed
Members.
I have no doubt that the Snooker Club will continue to thrive
as we move on in 2014 with one trip already planned, to Hong
Kong, to coincide with the International Rugby Sevens ,and
we will repeat our usual trip to another Australian city, which
remains to be decided as to venue and dates.
Office Bearers for 2013 were:
President
Tim Woolley
Games Director
Ray Garske
Treasurer
Wayne Duncan
Secretary
Mitchell Acres
Handicapper
Leo Thomsen
15
Committee Members:
Robert Day
Joe Frendo
Michael Needham
Trophy winners for 2013 were:
Club Snooker Champion
Mal Waygood
Runner-up
Jim Wicks
Snooker Championship “B” Winner
Wayne Duncan
Runner-up
Mitch Acres
Snooker Singles Handicap Winner
Eric Oxenford
Runner-up
Anthony Martin
Snooker Pairs Handicap WinnersMitch Acres and
Frank Wilkie
Runners-upJim Wicks and
Greg Webb
Billiards Handicap Winner
Mal Waygood
Runner-up
Geoff Veal
Tim Woolley
President
Walkers CLUB
Tattersall’s Walkers has had a successful fourth year as a subclub and its sixth year of walking. The number of interested
Members keeps growing with 44 Members and 31 associates
registered. During the year the group walked every Saturday.
There has been an average of 16 walkers per week, ranging
from 2 to 36. The walkers comprised Club Members, their
partners and guests. This has resulted in a group of about
80 interested walkers. The Honeyeater and Slaughter Falls
Tracks at Mt Coot-tha have remained the regular venue on
Saturday mornings with coffee at the lookout café.
The year opened with a successful series of evening walks
along the riverside walkway including dinner at Southbank.
February saw the group at Simpsons Falls at Mt Coot-tha —
the site of the first walk in 2008 for birthday celebrations.
During the year the group returned to some former walks
and explored some new opportunities. The walks included
venues along South East Queensland’s creeks and trails in
State Forests, Conservation Parks, National Parks and in
Brisbane and Ipswich City. There were three weekend trips
away to Noosa, Bunya Mountains and Stradbroke Island.
The weekends away provided the opportunity for Saturday
night dinner either in a local restaurant or self-catered. The
proposed fourth weekend away was cancelled as it clashed
with the Federal election. The year concluded with a walk
along the Moreton Bay foreshore. This was followed by picnic
in the park. This event attracted a record crowd despite the
wet weather. While this was the end of year event, those
16
available kept walking at Mt Coot-tha during the festive
season. The total distance for all walks in the year was over
450 kilometres. This year there were also often Members
who walked the Honeyeater Track when time did not permit
them to attend the walks further away this is now a regular
alternative walk.
November saw a record of 41 attend the groups AGM in the
Club returning the existing office bearers and increasing the
committee size to 6.
Plans are well under way for another year of walking every
Saturday somewhere in south-east Queensland in 2014.
Alan Ernst
President
WINE CLUB
It is a pleasure to report to Members as part of Tattersall’s
review of activities for 2013 on behalf of the Wine Club.
Tattersall’s Wine Club, which will be celebrating its 25th
anniversary in September this year, and has been one of
Tattersall’s very active sub-clubs during that period. Whilst
the fortunes of the Club have had their ups and downs during
that period, it is fair to say that this sub-club is operating very
strongly at the moment and has been for probably the last
ten years. Tattersall’s Wine Club is able to offer Tattersall’s
Club Members the enjoyment of food and wine, the happy
fellowship of fellow Members and partners, exposure to
interesting wines and winemakers and is a group that has no
practical limit on membership. Currently, member numbers
have passed 300 and the Wine Club Committee would be
delighted to see that number grow even further.
Functions during the year in review were Craggy Range
Wines in February following the Wine Club’s AGM, Margaret
River maker Redgate in March, Champagne Alfred Gratien
in May, Robert Oatley Wines in June, Dalwhinnie in July,
Kilikanoon in October and Troy Kalleske in November. Also
during the year, two Black Tie Fine Wine Dinners were held
– April and September, as well as a very relaxed and most
enjoyable Sunday luncheon at Craft Restaurant at Milton. Of
course, as usual, the Wine Club conducted its very sociable
and popular Members’ Cocktail Party in December. Just for
something different, the Wine Club and the Tatts’ Classic
Film Group held a combined function with Wine Club wines
and Film Group’s movie – a most enjoyable and successful
night of social interaction.
Last year we reported that the Wine Club had expanded
its storage capacity with the acquisition of an additional
temperature controlled wine cabinet. As a result of this, we
now have over 500 bottles stored for future use at Wine Club
events. Particular wines acquired and proposed for future
events will normally find their way to such events as Black
Tie Fine Wines Dinners, Sunday Lunches [of which one per
year is held] and our year ending Members’ Cocktail Party.
During the year, Wine Club activities have been handled
by an enthusiastic Committee who have all made generous
contributions of their time. Members of the Committee were
President Ian McLeod, Vice-Present Peter Dittmer, Secretary
James Noble, Treasurer Lou Carter, Wine Master Roland
Muster, Committee Members John Woodhouse, Hal Davis,
Chris Elliott, Mark Hogan and Geoff Veal. The overall support
for our activities that these Committee Members provide is
much appreciated.
Sadly, one of the Club’s earliest Members and a long time
Committee Member – Roland Muster – passed away during the
year. He is very much missed and his quirky Austrian humour
and willingness to help assist in many of the Club’s activities
will also be missed.
Despite the challenges faced during the past year, it is pleasing
to note that membership has grown. The Wine Club makes
every attempt to ensure that our contact with Members is
maintained but there are often difficulties keeping email
contact details up to date. Members are encouraged to contact
either the Club or Wine Club Secretary James Noble if they
have not been receiving email messages regularly from the
Wine Club. It should be expected that they will receive an
invitation at least every month to a Wine Club function.
Usually, a number of reminders will be issued. If at any time,
you don’t hear from the Wine Club, we would encourage you
to make contact so that your email address can be checked and
corrected if necessary.
Attendances at these meetings were as follows:
President
Mr R. J. Lette 12*
(Leave of Absence 1 meeting)
Vice-President
Mr D. R. Whybird
12*
Honorary Treasurer
(until 2013 AGM)
Mr M. F. Cassidy
9*
(Leave of Absence 4 meetings)
Honorary Treasurer
(elected 2013 AGM)
Mr S. D. J. Fraser
Committee
Mr M. G. Alcorn
13
Mr S. C. McAlpine
11*
Mr M. F. Paramor AM
8*
(Elected 2013 AGM)
Mr A. N. Paterson
12*
Mr M. P. Purcell
(Resigned 2013 AGM)
Mr R. J. Sivyer
11*
Mr E. H. Ward
11*
(Leave of absence 2 meeting)
13
3
* Leave of Absence approved by Committee
We encourage Tattersall’s Club Members to consider
membership of the Wine Club and invite you to either contact
the Club office for an application form, or Secretary James
Noble on 3255 3200 or President Ian McLeod on 3878 5555.
I cannot conclude my report without recognising and
thanking the Members of the Committee for the time and
effort they have given in the interests of us all and for the
counsel and advice they have provided to me personally.
Ian McLeod
President
I must also express my thanks to our staff. Their work and
commitment to Members is vital in maintaining the Club as
a place that is welcoming, friendly and attentive. I know that
all Members will join me in offering our warm and sincere
appreciation for their essential and valued contribution to the
unique institution that is Tattersall’s Club.
O’ Duffy LIBRARY
The O’Duffy Library purchased a total of 230 new titles for the
non fiction and fiction collection representative of the titles
available in the 2013 publishing year. Members continued
to utilize the newspaper and periodical collections to take
advantage of the resources for educational, business and
recreational purposes.
Overlooking Edward Street and the Queen Street Mall the
Library continues to be the perfect location for Members
and guests to enjoy light lunches, tea and coffee and special
occasion cocktail parties or dinners.
COMMITTEE MEETINGS
After another successful year, I am confident that the Club
has the leadership, vision and financial stability necessary to
not only meet the challenges to come in this and succeeding
years but also to build on our standing as a premier world
club. The Committee and I thank you for your support over
the last 12 months and look forward to engaging with you on
how the Club should continue to move forward.
‘Amicitia Vita Est’
Bob Lette
President
There were twelve Ordinary meetings and one Extraordinary
Meeting held during 2013. Mr M P Purcell resigned from the
Committee with effect 26 March 2013 and Mr M F Paramor
AM was elected under the Rules of Tattersall’s Club with effect
26 March 2013.
17
STATEMENT OF FINANCIAL POSITION
as at 3 1 december 2 0 1 3
Note
ASSETS
20132012
$$
CURRENT ASSETS
Cash and cash equivalents
19a
3,225,015 3,209,140
Trade and other receivables
6
780,972 838,820
Inventories
8
317,004 334,198
Other assets
9
610,188 700,245
TOTAL CURRENT ASSETS
4,933,179 5,082,403
NON CURRENT ASSETS
Other assets
9
307,789 220,433
Property, plant & equipment
10
44,675,635 44,972,918
Intangible assets
11
77,959 82,012
TOTAL NON CURRENT ASSETS
45,061,383 45,275,363
TOTAL ASSETS
49,994,562 50,357,766
LIABILITIES
CURRENT LIABILITIES
Trade and other payables
12
1,076,422 1,213,109
Short term borrowings
13
1,521,677 1,479,749
Short term provisions
14
526,251 491,147
Other current liabilities
15
1,451,240 1,407,148
TOTAL CURRENT LIABILITIES
4,575,590 4,591,153
NON CURRENT LIABILITIES
Long term borrowings
13
15,917,177 17,438,854
Long term provisions
14
136,282 112,241
TOTAL NON CURRENT LIABILITIES
16,053,459
17,551,095
TOTAL LIABILITIES
20,629,049 22,142,248
NET ASSETS
29,365,513 28,215,518
MEMBERS’ FUNDS
Retained earnings
29,365,513 28,215,518
TOTAL MEMBERS’ FUNDS
29,365,513 28,215,518
The accompanying notes form part of these financial statements
18
statement of comprehensive income
for the year ended 3 1 december 2 0 1 3
Note
20132012
$$
Sales revenue
2a
5,715,073 5,612,174
Cost of sales
3a
5,366,999 5,208,450
Club gross profit
348,074 403,724
Other income
2b
6,897,538 6,297,266
7,245,612 6,700,990
Marketing expenses
459,494 319,038
Occupancy expenses
495,339 371,735
Administrative and other expenses
4,142,739 3,810,104
Finance costs
3b
998,045 1,199,807
6,095,617 5,700,684
Profit/(loss) before income tax expense
1,149,995 1,000,306
Income tax expense/(benefit)
5
-
Profit/(loss) after income tax expense
1,149,995 1,000,306
Other comprehensive income
-
Total comprehensive income attributable to members
1,149,995 1,000,306
STATEMENT OF CHANGES IN EQU ITY
FOR T HE Y EAR E N D E D 3 1 D E CE MB E R 2 0 1 3
Retained
EarningsTotal
$$
Balance 1 January 2012
27,215,212 27,215,212
Total comprehensive income for the year
1,000,306 1,000,306
Balance 31 December 2012
28,215,518 28,215,518
Total comprehensive income for the year
1,149,995 1,149,995
Balance 31 December 2013
29,365,513 29,365,513 Ta t t e r s a l l ’ s C l u b A n n u a l R e p o r t 2 0 1 3
19
STATEMENT OF cash flowS
Note
20132012
$$
CASH FLOW FROM OPERATING ACTIVITIES
Receipts from members, guests and tenants
15,118,710 14,066,708
Payments to suppliers and employees
(12,296,742)
(11,560,577)
Interest received
440 4,347
Finance costs
(998,045)
(1,199,807)
Net Cash provided by / (used in) Operating Activities
19b
1,824,363 1,310,671
CASH FLOW FROM INVESTING ACTIVITIES
Proceeds from the sale of property, plant and equipment
-
1,708
Purchase of property, plant and equipment
(316,621)
(301,475)
Purchase of intangible assets
(12,118)
(83,815)
Net Cash provided by / (used in) Investing Activities
(328,739)
(383,582)
CASH FLOW FROM FINANCING ACTIVITIES
Repayment of borrowings
(1,346,365)
(1,684,485)
Net Cash provided by / (used in) Financing Activities
(1,346,365)
(1,684,485)
Net increase / (decrease) in cash held
149,259 (757,396)
Cash and cash equivalents at the beginning of the financial year
3,075,756 3,833,152
Cash and cash equivalents at the end of the financial year
19a
3,225,015 3,075,756 The accompanying notes form part of these financial statements
20
NOTES TO THE FINANCIAL STATEMENTS
1. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
and arise when the Club becomes obliged to make future
payments in respect of the purchase of these goods and services.
Tattersall’s Club is a not-for-profit entity run for the benefit of
its members.
(d) Inventories
The financial report is a general purpose financial report that
has been prepared in accordance with Accounting Standards,
including Australian Accounting Interpretations and other
authoritative pronouncements of the Australian Accounting
Standards Board.
The financial report complies with all Australian equivalents
to International Financial Reporting Standards (IFRS).
The following is a summary of the material accounting
policies adopted in the preparation of the financial report.
The accounting policies have been consistently applied unless
otherwise stated.
Basis of Preparation
The financial report has been prepared on an accruals
basis and is based on historical costs. The fair value basis of
accounting has been applied to selected assets and liabilities
where applicable.
(a) Income Tax
Tax effect accounting principles have been adopted, whereby
income tax expense has been calculated on pre-tax accounting
profits after adjustments for non-assessable or disallowed
items. The tax effect of timing differences, which occur when
items are included or allowed for income tax purposes in a
period different to that for accounting, have not been taken to
account as their realisation is unlikely.
The mutuality principal provides that where the principal
aim of a Club is to provide and improve the facilities to its
members, any revenues or expenses generated as a result of
transactions with members are excluded from the Club’s
assessable income or allowable deductions for income tax
purposes.
(b) Trade Receivables
Trade receivables, which generally have 30 to 90 day terms, are
recognised initially at fair value and subsequently measured
at amortised cost using the effective interest method, less an
allowance for any uncollectable amounts.
Collectability of trade receivables is reviewed on an ongoing
basis. An allowance for doubtful debts is made when there is
objective evidence that the full amount is no longer probable
of being collected. Bad debts are written off when identified.
(c) Trade and Other Payables
Trade and other payables are unsecured and carried at amortised
cost. They represent liabilities for goods and services provided to
the Club prior to the end of the financial year that are unpaid
Inventories are measured at the lower of cost and net realisable
value. Costs are assigned to inventory on hand and valued on
an average cost basis.
(e) Property, Plant and Equipment
Property, plant and equipment are brought to account at cost,
less, where applicable, any accumulated depreciation and
impairment losses. The carrying amount of property, plant and
equipment is reviewed annually by the Committee to ensure
it is not in excess of the recoverable amount from these assets.
The recoverable amount of the Club’s property is assessed by
reference to current depreciated replacement cost.
Subsequent costs are included in the asset’s carrying amount
or recognised as a separate asset, as appropriate, only when it is
probable that future economic benefits allocated with the item
will flow to the Club and the cost of the item can be measured
reliably. All other repairs and maintenance are charged to
the statement of comprehensive income during the financial
period in which they are incurred.
The gain or loss on disposal of all fixed assets is determined as
the difference between the carrying amount of the asset at the
time of disposal and the proceeds of disposal, and is included
in operating profit before income tax.
The assets’ residual values and useful lives are reviewed, and
adjusted if appropriate, at each balance sheet date.
An asset’s carrying amount is written down immediately to its
recoverable amount if the asset’s carrying amount is greater
than its estimated recoverable amount.
Depreciation
The depreciable amount of all fixed assets including buildings,
but excluding freehold land and paintings and antiques (which
have appreciated over time), is depreciated over their useful
lives on a straight-line basis commencing from the time the
asset is held ready for use.
The depreciation rates used for each class of depreciable asset
are:
Class of Asset
Depreciation Rate
Buildings2%
Paintings & Antiques
0%
Plant & Equipment
10% - 33%
21
1. Summary of Significant Accounting
Policies (cont.)
(f) Intangible Assets
Intangible assets are initially recognised at cost and are
subsequently measured at cost less amortisation and any
impairment. The gains or losses recognised in profit or loss
arising from derecognition of an intangible asset is measured
as the difference between net disposal proceeds and the
carrying amount of the intangible asset. The method and
useful lives of finite life intangibles are reviewed annually.
Changes in the expected pattern of consumption or useful life
are accounted for prospectively by changing the amortisation
method or period.
Software
Significant costs associated with software are capitalised and
amortised on a straight-line basis over the period of their
expected benefit, being their finite life of 10 years.
(g) Employee Benefits
Provision is made for the Club’s liability for employee benefits
arising from services rendered by employees at balance date.
Employee benefits expected to be settled within one year have
been measured at the amounts expected to be paid plus related
on-costs. Employee benefits payable later than one year have
been measured at the present value of the expected future cash
outflows to be made for those benefits
(h) Cash and Cash Equivalents
Cash comprises cash on hand and demand deposits. Cash
equivalents are short term, highly liquid investments that are
readily convertible to known amounts of cash and which are
subject to an insignificant risk of changes in value.
Bank overdrafts are shown within short-term borrowings in
current liabilities on the statement of financial position.
(i) Revenue
Revenue from the sale of goods is recognised upon the delivery
of goods to customers. Revenue from the rendering of services
is recognised on delivery of the service to the customer.
Interest revenue is recognised on a proportional basis taking
into account the interest rates applicable to the financial asset.
Membership subscription revenue and Health Centre
membership revenue are recognised on a proportional basis.
Property income is recognised on a stream line basis over the
life of the lease, taking into account annual increases as well
as any rent free period.
All revenue is stated net of the amount of goods and services
tax (GST).
22
(j) 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 Taxation Office. In
these circumstances the GST is recognised as part of the cost
of acquisition of the asset or as a part of an item of expense.
Receivables and payables in the statement of financial position
are shown inclusive of GST.
Cash flows are presented in the statement of cashflows on a
gross basis, except for the GST component of investing and
financing activities, which are disclosed as operating cash flows.
(k) Impairment of Assets
At each reporting date the Club reviews the carrying values
of its assets to determine whether there is any indication that
those assets have been impaired. If such an indication exists,
the recoverable amount of the asset, being the higher of the
asset’s fair value less costs to sell and value in use, is compared
to the asset’s carrying value. Any excess of the asset’s carrying
value over its recoverable amount is expensed to the statement
of comprehensive income.
Where it is not possible to estimate the recoverable amount of
an individual asset, the Club estimates the recoverable amount
of the cash generating unit to which the asset belongs.
(l) Provisions
Provisions are recognised when the Club 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.
(m) Leases
Leases of fixed assets where substantially all the risks and
benefits incidental to the ownership of the asset, but not
the legal ownership that are transferred to entities in the
economic entity are classified as finance leases.
Finance leases are capitalised by recording an asset and a
liability at the lower of the amounts equal to the fair value of
the leased property or the present value of the minimum lease
payments, including any guaranteed residual values. Lease
payments are allocated between the reduction of the lease
liability and the lease interest expense for the period.
Leased assets are depreciated on a straight-line basis over their
estimated useful lives where it is likely that the economic
entity will obtain ownership of the asset or over the term of
the lease.
Lease payments for operating leases, where substantially all
the risks and benefits remain with the lessor, are charged as
expenses in the periods in which they are incurred.
Lease incentives granted to tenants under operating leases are
recognised and amortised on a straight-line basis over the life
of the lease term.
1. Summary of Significant Accounting
Policies (cont.)
(n) Finance Costs
Finance costs relate to the loans obtained for the expansion of
the Club. Refer to Note 21 Financial Instruments for further
details.
Finance costs are recognised in the statement of
comprehensive income in the period in which they are
incurred.
(o) Financial Instruments
Recognition
Financial instruments are initially measured at cost on trade
date, which includes transaction costs, when the related
contractual rights or obligations exist. Subsequent to initial
recognition these instruments are measured as set out below.
Financial Assets
Financial Assets include cash and cash equivalents and trade
receivables. Trade receivables are non-derivative financial
instruments that are not quoted in an active market. They are
stated at cost less provision for doubtful debts.
Financial Liabilities
Key estimates - Impairment
The Club assesses impairment at each reporting date by
evaluating conditions specific to the Club that may lead to
impairment of assets. Where an impairment trigger exists,
the recoverable amount of the asset is determined. Value-inuse calculations performed in assessing recoverable amounts
incorporate a number of key estimates.
Key judgements - Provision for impairment of receivables
The Club assesses impairment at each reporting date by
evaluating conditions specific to the Club that may lead to
impairment of receivables. The level of provision is assessed by
taking into account the recent sales experience, the ageing of
receivables, historical collection rates and specific knowledge
of the individual debtors financial position.
(r) Segment Reporting
A business segment is a distinguishable component of the
Club that is engaged in providing products or services that are
subject to risks and returns that are different to those of other
business segments. A geographical segment is a distinguishable
component of the Club that is engaged in providing products
or services within a particular economic environment and is
subject to risks and returns that are different than those of
segments operating in other economic environments.
Non-derivative financial liabilities are recognised at cost,
comprising original debt less principal payments.
Fair Value
The carrying value of financial assets and financial liabilities
approximates fair value. Refer to Note 21(c).
Impairment
At each reporting date, the Club assesses whether there
is objective evidence that a financial instrument has
been impaired. In the case of available-for-sale financial
instruments, a prolonged decline in the value of the
instrument is considered to determine whether an impairment
has arisen. Impairment losses are recognised in the statement
of comprehensive income.
(p) Comparative Figures
When required by Accounting Standards, comparative figures
have been adjusted to conform to changes in presentation for
the current financial year.
(q) Critical Estimates and Judgements
The Committee evaluates estimates and judgements
incorporated into the financial report based on historical
knowledge and best available information. Estimates assume
a reasonable expectation to future events and are based on
current trends and economic data obtained both externally
and within the Club.
23
2. REVENUE
Note
2013
2012
$$
(a) Sales revenue
– Cellar and wine room
158,249 185,662
– Bar and catering
4,622,286 4,397,380
– Accommodation
637,553 709,118
– Health Centre
296,985 320,014
5,715,073 5,612,174
(b) Other income
– Members’ subscriptions
2,524,188 2,550,810
– Members’ entrance fees
123,227 95,055
– Property income
4,117,622 3,537,739
– Interest received
440 4,347
– Race Club administration charge
18
108,840 108,840
– Donation Gym Equipment 24,641 – Gain/(Loss) on Disposal of Fixed Assets
(1,420)
475
6,897,538 6,297,266
12,612,611 11,909,440
3. PROFIT FROM ORDINARY ACTIVITIES
(a) Cost of sales
– Cellar and wine room
239,746 257,201
– Bar and catering
4,603,081 4,428,952
– Accommodation
226,616 238,510
– Health Centre
297,556 283,787
5,366,999 5,208,450
(b) Expenses
Finance costs
– Related parties - Tattersall’s Racing Club Inc.
18
83,363 88,238
– External parties
914,682 1,111,569
998,045 1,199,807
Amortisation and depreciation expense
– Buildings
10a
524,534 501,942
– Plant and equipment
10a
112,591 120,153
– Intangible assets
11a
16,171 1,803
653,296 623,898
Bad and doubtful debts expense
24,000 24,000
Rental expense on operating leases
42,937 68,290
Employee benefits expense *
– Short term employee benefits
4,275,147 4,095,934
– Post employment benefits
387,275 366,677
– Long term employee benefits
52,717 41,216
4,715,139 4,503,827
*On the statement of comprehensive income, employee benefits expense is split according to its nature between cost of sales,
occupancy expenses, marketing expenses and administration expenses.
(c) Significant revenue and expenses
The following sigificant revenue and expense items are relevant in explaining the financial performance:
- Land Tax Credit adjustment due to land valuation adjustment
- Council rates credit adjustment due to land valuation adjustment
24
–
–
24,128
85,031
4. SEGMENT REPORTING
Primary Reporting — Business Segments
Food & BeverageMembership Subs PropertyAccommodation Health Centre
Other
Total
201320122013 20122013 201220132012 20132012 2013201220132012
$ $$$$$$$$$$$$$
REVENUE
External sales
4,780,535 4,583,041 2,647,415 2,645,864 4,117,622 3,537,739 637,553 709,118 296,985 320,014 132,501 113,663 12,612,611 11,909,439
RESULT
Segment result
(78,195) (126,732) 2,647,415 2,645,864 3,556,746 3,141,652 410,937 470,608 (571)
36,227 -
- 6,536,332 6,167,619
“Unallocated expenses net
of unallocated revenue”
-
-
-
-
-
-
-
-
-
- (5,386,337) (5,167,313) (5,386,337) (5,167,313)
Operating profit
1,149,995 1,000,306
Tax- Net profit
1,149,995 1,000,306
OTHER INFORMATION
Assets
Segment assets
342,511 369,088 -
-
-
-
-
-
3,443 4,525 -
- 345,954 373,613
Unallocated assets
-
-
-
-
-
-
-
-
-
- 49,648,608 49,984,153 49,648,608 49,984,153
Total assets
49,994,562 50,357,766
Liabilities
Segment liabilities
6,205 19,330 989,393 962,383 330,010 293,987 -
- 116,164 124,262 -
- 1,441,772 1,399,962
Unallocated liabilities
-
-
-
-
-
-
-
-
-
- 19,187,277 20,742,286 19,187,277 20,742,286
Total liabilities
20,629,049
22,142,248
OTHER
Depreciation of segment assets
15,903 23,619 -
-
-
-
-
-
-
- 637,393 600,279 653,296 623,898
Capital expenditure
-
-
-
-
-
-
-
-
-
- 316,621 301,475 316,621 301,475
Significant other non-cash segment expenses
-
-
-
-
-
-
-
-
-
-
(3,040)
5,663 (3,040)
5,663
(a) Business and Geographical Segments
(i) Business Segments
The Club operates the following business segments:
Food & Beverage
This segment includes all food and beverage operations throughout the Club, including the Members’ Dining Room, Members’ Bar,
Healy Room, Cellar & Wine Room and Functions.
Membership Subscriptions
This segment incorporates the income derived from membership subscriptions and entrance fees.
Property
This segment incorporates the tenancy operations in the Tattersall’s Arcade.
Accommodation
This segment incorporates the four star short-term accommodation rooms.
Health Centre
This segment incorporates the gymnasium and pool facilities.
Other
This is the residual segment incorporating all other aspects of the Club’s operations which cannot be classified into the above
mentioned segments.
(ii) Geographical Segments
Tattersall’s Club operates in one geographical segment, being Brisbane, Queensland, Australia.
25
20132012
$$
5. INCOME TAX
The prima facie income tax expense on pre-tax accounting income reconciles
to the income tax expense in the accounts as follows:
Profit / (loss) before income tax expense
1,149,995 1,000,306
Prima facie tax payable on profit before income tax expense at 30% (2012: 30%) 344,999 300,092
Under provision in respect of prior years
89,688 (113,192)
Add:
Tax effect of:
i) timing differences including mutuality adjustments
(58,700)
(155,080)
ii) benefit of prior period tax losses not brought to account and other items
(375,987)
(31,820)
Income tax expense attributable to profit / (loss)
-
The benefit of tax losses not brought to account at 30%
2,472,672 2,848,659
6. TRADE AND OTHER RECEIVABLES
Trade and other receivables (a)
864,290 911,547
Less provision for impairment of receivables
(89,343)
(68,241)
774,947 843,306
Receivable from related party
6,025 (4,486)
780,972 838,820
(a) Trade receivable aged balances at year end are as follows
Current
510,156 582,740
30 Day
167,078 166,940
60 Day
16,382 38,725
90+ Day
72,488 31,548
add back Prepaid debtor account balances held for future consumption
766,104 98,186 819,953
91,594
864,290 911,547
7. LEASE RECEIVABLES
Receivable — minimum operating lease receipts
Not later than 12 months
3,617,003 3,910,851
Between 12 months and five years
9,001,381 11,254,635
Greater than five years
1,554,600 2,303,653
14,172,984 17,469,139
The Club derives income from leases with tenants of the Tattersall’s Arcade. The tenancy terms are for periods between three
and ten years. Lease rentals are generally subject to annual reviews based on movements in market rates, movements in CPI or
fixed increases. A number of leases have options for additional rental period of between three and five years. Further detailed
information regarding individual leases has not been provided due to commercial confidentiality.
26
Note
20132012
$$
8. INVENTORIES
Food inventories
42,627 29,963
Beverage inventories
257,339 284,300
Other inventories
17,038 19,935
317,004 334,198
Inventories recognised as an expense for the year ended 31 December 2013 totalled $1,212,907 (2012: $1,153,288). This expense
has been included in the cost of sales line item in the Statement of Comprehensive Income.
Inventory write-downs recognised as an expense totalled $21,820 (2012: $16,758).
9. OTHER ASSETS
Current
Prepayments
567,472 641,455
Accrued income
42,716 58,790
610,188 700,245
Non Current
Accrued income - Investment Properties
307,789 220,433
307,789 220,433
10. PROPERTY, PLANT & EQUIPMENT
Freehold land
At cost
23,138,870 23,138,870
Total Land
23,138,870 23,138,870
Buildings
At cost
29,185,015 28,993,717
Accumulated depreciation
(8,753,395)
(8,233,105)
Total Buildings
20,431,620 20,760,612
Total Land & Buildings
43,570,490 43,899,482
Plant and Equipment
At cost
3,067,737 2,950,197
(2,427,088)
(2,326,256)
Total Plant and Equipment
640,649 623,941
Paintings and Antiques
At cost
464,496 449,495
TOTAL PROPERTY, PLANT & EQUIPMENT
44,675,635 44,972,918
27
10. PROPERTY, PLANT & EQUIPMENT (cont.)
a) Movements In Carrying Amounts
Movement in the carrying amounts for each class of property, plant and equipment between the beginning and end of the current
financial year:
Freehold
Plant and
Paintings
Land
Buildings
Equipment
and Antiques
Total
$$$$$
Balance at the beginning of the year
23,138,870 20,760,612 623,941 449,495 44,972,918
Additions
-
195,542 130,719 15,001 341,262
Disposals
-
-
(1,420)
-
(1,420)
Revaluation increments/(decrements)
-
-
-
-
Depreciation expense
-
(524,534)
(112,591)
-
(637,125)
Carrying amount at the end of the year 23,138,870 20,431,620 640,649 464,496 44,675,635
Movement in the carrying amounts for each class of property, plant and equipment for the prior year ended 31 December 2012:
Additions
Disposals
Depreciation expense
Freehold
Plant and
Paintings
Land
Buildings
Equipment
and Antiques
Total
$$$$$
23,138,870 21,252,404 472,482 431,015 45,294,771
-
10,150 272,845 18,480 301,475
-
-
(1,233)
-
(1,233)
-
-
-
-
-
(501,942)
(120,153)
-
(622,095)
Carrying amount at the end of the year 23,138,870 20,760,612 623,941 449,495 44,972,918
b) Property, plant and equipment pledged as security for liabilities
Freehold land with a carrying amount of $23,138,870 (2012: $23,138,870) and buildings with a carrying amount of $20,431,620
(2012: $20,760,612) are subject to a first charge as disclosed in Note 13b.
Note
20132012
$$
11. INTANGIBLE ASSETS
Computer Software
At cost
95,933 83,815
(17,974)
(1,803)
77,959 82,012
a) Movements In Carrying Amounts
Movement in the carrying amounts for each class of intangible assets between the beginning and end of the current financial year:
$
Computer Software
82,012
Additions
12,118
Disposals
Amortisation expense
(16,171)
Carrying amount at the end of the year
28
77,959
Note
20132012
$$
12. TRADE AND OTHER PAYABLES
CURRENT
Trade payables (a)
500,989 554,950
Goods and services tax
320,963 306,412
Other payables and accruals (b)
254,470 351,747
1,076,422 1,213,109
(a) Trade payables are non-interest bearing and are normally settled on 30 day terms.
(b) Other payables are non trade payables and non-interest bearing.
13. BORROWINGS
CURRENT
Secured liabilities:
Bank overdraft
21b
-
133,384
Bank loan
21b
1,471,677 1,296,365
Unsecured liabilities:
Loans from related parties
21b
50,000 50,000
1,521,677 1,479,749
NON CURRENT
Secured liabilities:
Bank loan - Fixed
21b
8,000,000 8,000,000
Bank loan - Floating
21b
7,137,177 8,608,854
15,137,177 16,608,854
Unsecured liabilities:
Loans from related parties
21b
780,000 830,000
15,917,177 17,438,854
(a) The total of current and non-current secured liabilities
Bank loan and overdraft
16,608,854 18,038,603
(b) The carrying amounts of non-current assets pledged as security are:
First Mortgage - Freehold land and buildings.
10
43,570,490 43,899,482
(c) The carrying amount of the Club’s current and non-current borrowings approximate their fair value.
29
Note
20132012
$$
14. PROVISIONS
CURRENT
Loyalty points
88,931 91,971
Fringe Benefits Tax
(2,181)
120
Employee entitlements:
Annual leave
275,976 234,964
Long service leave
163,525 164,092
526,251 491,147
NON CURRENT
Employee entitlements:
Long service leave
136,282 112,241
Aggregate employee entitlements liability
575,783 511,297
Number of employees at year end
122 118
LoyaltyEmployee
PointsEntitlements
Total
$$$
Opening Balance 1 January 2013
91,971 511,297 603,268
Additional provision
18,000 328,714 346,714
Amounts used
(21,040)
(264,229)
(285,269)
Closing Balance 31 December 2013
88,931 575,782 664,713
Provision for Loyalty Points
A provision for loyalty points accrued by members has been recognised on the basis of the estimated average cost of providing
goods and services for which the loyalty points may be redeemed.
Provision for Employee Entitlements
A provision has been recognised for employee entitlements relating to annual and long service leave, the probability of long
service leave being taken is based upon historical data. The measurement and recognition criteria for employee benefits has been
included in Note 1.
20132012
15. OTHER CURRENT LIABILITIES
$
$
Health Centre subscriptions in advance
116,164 124,262
Membership subscriptions in advance
989,392 962,383
Other income in advance
15,674 26,516
Rentals in advance
330,010 293,987
1,451,240 1,407,148
30
16. KEY MANAGEMENT PERSONNEL COMPENSATION
Committee
The following Committee Members were in office during 2013:
Mr R J Lette (President)
Mr D R Whybird (Vice-President)
Mr S D J Fraser (Treasurer) - elected 26 March 2013
Mr F M Cassidy (Treasurer) - till 26 March 2013
Mr M G Alcorn
Mr S C McAlpine
Mr A N Paterson
Mr M P Purcell - resigned 26 March 2013
Mr R J Sivyer
Mr E H Ward
Mr M F Paramor AM - elected 26 March 2013
No emoluments were paid to members of the Committee or their associates for their services as Committeemen during the
financial year.
Executive
The following Executives held positions with the Club during 2013:
Mr R A Parrott CSC (Chief Executive Officer)
Mr D M Vojinov (Financial Controller) - commenced 4 March 2013
Ms S Lee (Financial Controller) - resigned 29 March 2013
Mr M J Carter (Operations Manager)
Mr J J Cauldwell (House Manager)
Mr D J Oke (Executive Chef)
Ms J Alexander (Marketing Manager) - commenced 29 July 2013
Ms M O’Neill (Marketing Manager) - resigned 2 August 2013
Mr D J Nott (Property and Facilities Manager)
Mr M Abbate (Health Centre Manager)
Mr W V Hardy (Accommodation Manager)
20132012
$$
Compensation
Short Term Employee Benefits
859,472 836,626
Post Employment Benefits
79,889 75,804
Long Term Employee Benefits
14,525 14,139
953,886 926,569
17. REMUNERATION OF AUDITOR
Amounts received by the auditor from Tattersall’s Club
(a) Auditing the financial report of Tattersall’s Club
35,550 33,500
35,550 33,500
18. RELATED PARTY TRANSACTIONS
Administration fee charged to Tattersall’s Racing Club Inc.
108,840 108,840
Annual sponsorship fee paid to Tattersall’s Racing Club Inc.
90,000 45,000 Race Day sponsorship fee paid to Tattersall’s Racing Club Inc.
10,000 25,000
Trade amounts (payable)/receivable from Tattersall’s Racing Club Inc.
6,025 (4,486)
Total unsecured borrowings from Tattersall’s Racing Club Inc.
830,000 880,000
Interest paid on above at 9.75% per annum (2012: 9.75%)
83,363 88,238
Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to
other parties unless otherwise stated. From 1 July 2012, the Committee provided membership of the Tattersall’s Racing Club to all
Tattersall’s Club Members at no additional cost. By means of a Sponsorship Agreement between the two clubs, no fees are incurred
by any Tattersall’s Club member for membership of the Racing Club.
31
Note
20132012
$$
19. CASH FLOW INFORMATION
(a) Reconciliation of Cash
For the purposes of the statement of cash flows, cash includes cash on hand and in banks and investments in money market
instruments net of outstanding bank overdrafts. Cash at the end of the financial year as shown in the statement of cash flows is
reconciled to the related balance sheet items in the statement of financial position as follows:
Cash on hand/at bank
125,015 59,140
Cash in offset facility
3,100,000 3,150,000
3,225,015 3,209,140
Bank overdraft
13
-
(133,384)
3,225,015 3,075,756
(b) Reconciliation of net cash provided by operating activities to operating profit after income tax
Operating profit/(loss) after income tax
1,149,995 1,000,306
Depreciation and amortisation
653,296 623,898
Gain/(Loss) on Disposal of Fixed Assets
1,420 (475)
Donated gym equipment
(24,641)
(Increase)/decrease in:
- Current receivables
74,952 (206,641)
- Inventories
17,194 (84,744)
- Other current assets
(7,810)
(112,967)
Increase/(decrease) in:
- Current trade creditors
(53,961)
13,071
- Current trade accruals
(103,869)
129,384
- Other income in advance
(10,842)
1,394
- Rent in advance
36,023 21,948
- Subscriptions in advance
18,911 (119,873)
- Goods and services tax payable
14,551 (735)
- Provision for annual leave and long service leave
64,485 41,214
- Provision for loyalty points
(3,040)
5,663
- Provision for Fringe Benefits Tax
(2,301)
(772)
Net cash provided by operating activities
1,824,363 1,310,671
20. COMMITMENTS AND CONTINGENCIES
a) Finance Lease Commitments
The Club has not entered into any finance leases.
b) Operating Lease Commitments
Non-cancellable operating leases contracted for but not capitalised in the financial statements:
Payable — minimum lease payments Not later than 12 months
Between 12 months and five years
Greater than five years
42,831 87,681 -
23,116
17,277
-
130,512 40,393
The Club has entered into operating lease agreements for the provision of office equipment and Health Centre equipment. The
lease terms are between four and five years and lease payments are fixed for the term of the lease.
32
20. Commitments and Contingencies (cont.)
c) Property Plant and Equipment Commitments
At 31 December 2013 the Club had entered into contractual obligations for various refurbishment and repair projects costing
$126,839 (2012: $288,000).
d) Future Refurbishments
In accordance with Corporate Governance protocols, and under the guidelines established by the National Health and Safety
Commission’s Guide to the Control of Asbestos Hazards in Buildings and Structures,the Committee commissioned the development
of an Asbestos Management Plan to identify, evaluate and control any hazards posed by in situ asbestos in the building.
No high risk areas or situations were identified during the course of the last audit in 2013.
21. FINANCIAL INSTRUMENTS
(a) Financial Risk Management
The Club’s financial instruments consist of deposits with banks, local money market instruments, loans from related parties, and
loans from external parties.
The main purpose of non-derivative financial instruments is to raise finance for Club operations.
The Club does not have any derivative instruments as at 31 December 2013.
(i) Treasury Risk Management
A Finance Sub Committee consisting of the Treasurer, selected Committeemen, the Chief Executive Officer and Financial
Controller meet on a regular basis to analyse interest rate exposure and to evaluate treasury management strategies in the context
of the most recent economic conditions and forecasts.
The Committee’s overall risk management strategy seeks to assist the association in meeting its financial targets, whilst minimising
potential adverse effects on financial performance.
The Finance Sub Committee operates under policies approved by the senior committee members. Risk management policies are
approved and reviewed by the committee on a regular basis. These include the use of credit risk policies and future cash flow
requirements. (ii) Financial Risks
The main risks the Club is exposed to through its financial instruments are interest rate risk, liquidity risk and credit risk.
Interest Rate Risk
Interest rate risk is managed with a mixture of fixed and floating rate debt. At 31 December 2013 approximately 75% of Club debt
is fixed. For further information refer to Note 21b.
Foreign Currency Risk
The Club is not exposed to fluctuations in foreign currencies.
Liquidity Risk
The Club manages liquidity risk by monitoring forecast cash flows.
Credit Risk
The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised
financial assets, is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the statement of
financial position and notes to the financial statements.
There are no material amounts of collateral held as security as at 31 December 2013.
Credit risk is managed and reviewed regularly by the Finance Committee. It arises from exposures to customers and deposits with
financial institutions.
33
21. FINANCIAL INSTRUMENTS (cont.)
The Finance Committee monitors credit risk by actively assessing the rating quality and liquidity of counter parties:
- only banks and financial institutions with an ‘A’ rating are utilised;
- all potential members are rated for credit worthiness taking into account their particular circumstance and financial standing; and
- customers that do not meet the Club’s strict credit policies may only purchase in cash or using recognised credit cards.
At year end the Club does not have any material credit risk exposure to any single receivable or group of receivables under
financial instruments entered into by the Club.
The Club is not exposed to any material commodity price risk.
The trade receivable balances at 31 December 2013 and 31 December 2012 do not include any counterparties with external credit
ratings. Customers are assessed for credit worthiness using the criteria detailed above.
(b) Financial Instrument Composition and Maturity Analysis
The table below reflects the undiscounted contractual settlement terms for financial instruments of a fixed period of maturity, as
well as management’s expectations
Weighted Average
Floating
Fixed Interest Rate
Effective Interest Rate Interest Rate
Maturing within 1 yr
201320122013201220132012
%% $$ $$
Financial Assets
0.01
0.05
3,225,015 3,209,140 -
Receivables
-
-
-
-
-
Total financial assets
-
-
3,225,015 3,209,140 -
Bank overdraft
-
5.42
-
133,384 -
Bank loan secured
5.51
5.42
7,137,177 8,608,854 1,471,677 1,296,365
Related party loan
9.75
9.75
-
-
50,000 50,000
-
-
-
-
-
-
Total financial liabilities
-
-
7,137,177 8,742,238 1,521,677 1,346,365
Fixed Interest Rate
Non Interest
Maturing within 2–5 yrs
Bearing
Total
201320122013201220132012
%% $$ $$
Financial Assets
-
-
-
-
3,225,015 3,209,140
Receivables
-
-
780,972 838,820 780,972 838,820
Total financial assets
-
-
780,972 838,820 4,005,987 4,047,960
Bank overdraft
-
-
-
-
-
133,384
Bank loan secured
8,000,000 8,000,000 -
- 16,608,854 17,905,219
Related party loan
780,000 830,000 -
-
830,000 880,000
-
-
1,076,422 1,213,109 1,076,422 1,213,109
Total financial liabilities
8,780,000 8,830,000 1,076,422 1,213,109 34
18,515,276 20,131,712 NOTES TO THE FINANCIAL STATEMENTS
21. Financial Instruments (cont.)
Trade and other payables are expected to be paid as follows:
20132012
$
$
Less than 6 months
1,076,422 1,213,109
1,076,422 1,213,109
The related party loan of $830,000 from Tattersall’s Racing Club Inc. has no set date for repayment. This loan bears interest at a
fixed rate of 9.75% per annum. A principal repayment of $50,000 is scheduled to be paid in June 2014. Refer to Notes 13 and 18.
Bank loans and guarantees are secured by first registered mortgage over the Club’s land and buildings.
(c) Net Fair Values
The net fair values of assets and liabilities approximates their carrying value. No financial assets and financial liabilities are readily
traded on organised markets in standardised form other than listed investments.
The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the statement of
financial position and in the notes to the financial statements.
Sensitivity analysis
Interest rate risk
The Club has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. This sensitivity analysis
demonstrates the effect on current year results and equity which could result from a change in this risk.
As at 31 December 2013, the effect on profit and equity as a result of changes in the interest rate, with all other variables
remaining constant would be as follows:
Bank Overdraft and Loan
2013
2012
$$
Change in profit
-Increase in interest rate by 2%
332,177 360,772
-Decrease in interest rate by 2%
(332,177)
(360,772)
Change in equity
332,177 360,772
(332,177)
(360,772)
Loan to Related Party
2013
2012
$$
Change in profit
16,600 17,600
(16,600)
(17,600)
Change in equity
16,600 17,600
(16,600)
(17,600)
This sensitivity analysis has been performed on the assumption that all other variables remain unchanged.
No sensitivity analysis has been performed on foreign currency risk as the Club is not exposed to foreign currency fluctuations.
35
22. ACCOUNTING POLICY AMENDMENTS
The AASB has issued new, revised and amended Standards and Interpretations that have mandatory application dates for future
reporting periods and which the Club has decided not to early adopt. A discussion of those future requirements and their impact
on the Club is as follows:
• AASB 9: Financial Instruments (applicable for annual reporting periods commencing on or after 1 January 2015).
• A
ASB 1053: Application of Tiers of Australian Accounting Standards and AASB 2010-2 Amendments to Australian Accounting
Standards arising from Reduced Disclosure Requirements (applicable for annual reporting periods commencing on or after 1 July 2013).
• A
ASB 2011-04: Amendments to Australian Accounting Standards to Remove Individual Key Management Personnel Disclosure
Requirements (applicable for annual reporting periods commencing on or after 1 July 2013).
• A
ASB 2012-3: Amendments to Australian Accounting Standards - Offsetting Financial Assets and Financial Liabilities (applicable for
annual reporting periods commencing on or after 1 January 2014).
• A
ASB 2013-3: Recoverable Amount Disclosures for Non-Financial Assets (applicable for annual reporting periods commencing on or
after 1 January 2014).
• A
ASB 2013-4: Amendments to Australian Accounting Standards - Novation of Derivatives and Continuation of Hedge Accounting
(applicable for annual reporting periods commencing on or after 1 January 2014).
• A
ASB 2013-5: Amendments to Australian Accounting Standards - Investment Entities (applicable for annual reporting periods
commencing on or after 1 January 2014).
The Club does not anticipate early adoption of any of the above reporting requirements and does not expect them to have any
material effect on the Club’s financial statements.
23. EVENTS AFTER BALANCE SHEET DATE
There have been no material events which have occurred after the reporting date.
24. CLUB DETAILS
The principal place of business of the Tattersall’s Club is
Tattersall’s Club
215 Queen St
Brisbane Qld 4001
DECLARATION BY THE COMMITTEE
The Committee declare that:
1.The financial statements and notes as set out on pages 18 to 36:
a.comply with Accounting Standards, including Australian Accounting interpretations and other authoritative
pronouncements of the Australian Accounting Standards Board; and
b.give a true and fair view of the financial position as at 31 December 2013 and of the performance for the year
ended on that date.
2.In the Committee’s opinion there are reasonable grounds to believe that the Club will be able to pay its debts as and when
they become due and payable.
This declaration is made in accordance with a resolution of the Committee and is signed for and on behalf of the Committee by:
R J LETTE
S D J FRASER
PresidentTreasurer
Signed at Brisbane this 19th day of February 2014.
36
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TATTERSALL’S CLUB
We have audited the accompanying financial report of Tattersall’s Club (the “Club”), which comprises the statement of financial
position as at 31 December 2013, and the statement of comprehensive income, statement of changes in equity and statement of cash
flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information to
the financial report and the declaration by the Committee.
Responsibility of the Committee for the financial report
The Committee of the Club is responsible for the preparation and fair presentation of the financial report in accordance with
Australian Accounting Standards. This responsibility includes such internal controls as the Committee determine are necessary to
enable the preparation of the financial report to be free from material misstatement, whether due to fraud or error. The Committee
also state, in the notes to the financial report, in accordance with Accounting Standard AASB 101 Presentation of Financial
Statements, the financial statements and notes, comply with International Financial Reporting Standards.
Auditor’s responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with
Australian Auditing Standards which require us to 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 judgement, 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 Club’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 Club’s internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by the Committee, 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.
Independence
In conducting our audit, we have complied with the applicable independence requirements of the Accounting Professional and
Ethical Standards Board.
Auditor’s Opinion
In our opinion, the financial report of Tattersall’s Club:
ipresents fairly, in all material respects, the Club’s financial position as at 31 December 2013 and of its performance and
cash flows for the year then ended; and
iicomplies with Australian Accounting Standards, and the financial report also complies with International Financial
Reporting Standards as disclosed in the notes to the financial statements.
GRANT THORNTON AUDIT PTY LTD
Chartered Accountants
D J Carroll
Partner — Audit & Assurance
Brisbane, 19 February 2014
37
R eciprocal C lubs
Tattersall’s Club Members are entitled to reciprocal privileges at many fine
clubs, nationally and internationally. A listing of our Reciprocal Clubs follows.
Additional information on these clubs is available from our Receptionist.
For additional information or to obtain a Card of
Introduction, contact: (07) 3331 8888
Cards of Introduction, which are issued only to Members in good standing, in
their name and for their use only, may be obtained from our Receptionist. The
Card is valid for 30 days after the issue and must be presented upon arrival at the
host club.
Email: admin@tattersallsclub.com
Website: www.tattersallsclub.com
Tattersall’s Club Members are requested to settle all dues, prior to departure from
the affiliated club.
Legend of Facilities and Services:
(A) Accommodation
(B) Arrangements with local hotel
(C) Athletic facilities
(D) Athletic facilities – men only
(1) Dining closed weekends
(2) Dining closed holidays
(3) Club closed public holidays
AUSTRALIA:
NEW ZEALAND:
Tattersall’s Members must conform to the rules, regulations and policies of the
host club. It is advisable for Members to call the Reciprocal Club prior to their
visit for reservations, rules and any operational changes.
Sydney:
Tattersall’s Club (B,C,D,3)
181 Elizabeth Street SYDNEY NSW 2000
Ph: (02) 9264 6111 Fax: (02) 9267 8312
Email: tattersallsclub@tattersallsclub.org
Website: www.tattersallsclub.org
Accomm: www.tattersallsclub.org/members-area/
member-services
Royal Automobile Club of Australia (A,C)
89 Macquarie Street SYDNEY NSW 2000
Ph: (02) 8273 2300 Fax: (02) 8273 2301
Email: raca@raca.com.au
Website: www.raca.com.au
The Kelvin Club (B,2)
Melbourne Place MELBOURNE VIC 3000
Ph: (03) 9654 5711 Fax: (03) 9650 8069
Email: enquiries@kelvinclub.com
Website: www.kelvinclub.com
Athenaeum Club (A,D,1,2,3)
87 Collins Street MELBOURNE VIC 3000
Ph: (03) 9654 3200 Fax: (03)9650 3756 Email: concierge@ athenaeumclub.com.au
Website: www.athenaeumclub.com.au
0% surcharge on all expenditure
Hobart:
The Athenaeum Club (B,1,2,3)
29 Davey Street, HOBART TAS 7000
Ph: (03) 6223 5804 Fax: (03) 6223 7928
Email: admin@athenaeumhobart.com.au
Website: www.athenaeumhobart.com.au
Wagga Wagga:
The Riverine Club (A,2,3)
Sturt Street, WAGGA WAGGA NSW 2650
Ph: (02) 6921 2031 Fax: (02) 6921 7336
Email: office@riverineclub.com
Website: www.riverineclub.com
Newcastle:
Newcastle Club (1,2)
40 Newcomen Street NEWCASTLE NSW 2300
Ph: (02 4929 1224 Fax: (02) 4929 6302
Email: reception@ newcastleclub.com.au
Website: www.newcastleclub.com.au
Canberra:
The Canberra Club (B,C)
45 West Row CANBERRA CITY ACT 2601
Ph: (02) 6248 9000 Fax: (02) 6247 8165
Email: info@ canberraclub.com.au
Website: www.canberraclub.com.au
The Commonwealth Club (A,21,2,3)
25 Forster Crescent YARRALUMLA ACT 2600
Ph: (02) 6120 2100 Fax: (02) 6120 2122
Email: admin@commonwealth.com.au
Website: www.commonwealth.com.au
NB: 10% Reciprocal guest fee
Tasmanian Club (A,1,2)
132 Macquarie Street, HOBART TAS 7000
Ph: (03) 6223 2701 Fax: (03) 6223 6341
Email: manager@tasmanianclub.org.au
Website: www.tasmanianclub.org.au
Perth:
Perth & Tattersall’s Bowling & Recreation Club (C)
2 Plain Street PERTH WA 6004
Ph: (08) 9325 5977 Fax: (08) 9325 5047
Email: ptbrc@bigpond.com.au
Website: www.perthandtatts.com.au
The Western Australian Club (B,C,1) from 29/1/13
The Karrakata Club 5 Sherwood Court PERTH
WA 6000
Ph: (08) 9481 7000 Fax: (08) 9481 7022
Email: admin@waclub.com.au
Website: www.waclub.com.au
Townsville:
North Queensland Club (1 2,3)
146-160 Denham Street TOWNSVILLE QLD 4810
Ph: (07) 4771 2250 Fax: (07) 4771 2221
Email: manager@ nqclub.com
Hamilton:
Toowoomba:
The Hamilton Club (1,2,3)
39 Gray Street HAMILTON VIC 3300
Ph: (03) 5572 2299 Fax: (03) 5572 2299
Email: info@hamiltonclub.com.au Website: www.hamiltonclub.com.au
The Downs Club (1,3)
Cnr Margaret and Mylne Streets TOOWOOMBA
QLD 4350
Ph: (07) 4632 3532 Fax: (07) 4639 4932
Email: admin@ downsclub.com
Website: www.downsclub.com
Healesville:
RACV Country Club (A,C)
Yarra Glen Road HEALESVILLE VIC 3777
Ph: (03) 5962 4899 Fax: (03) 5962 3450
Email: club@racv.com.au
Website: www.racv.com.au
Melbourne:
RACV Club (A,C)
501 Bourke Street MELBOURNE VIC 3000
Ph: (03) 9944 8888 Fax: (03) 9944 8844
Email: clubmembership@racv.com.au
Website: www.racv.com.au
Members may use facilities at Noosa Springs and
Royal Pines under RACV introduction card
54
Adelaide:
Public Schools Club Inc (A,2,3)
207 East Terrace, ADELAIDE S A 5000
Ph: (08) 8223 3213 Fax: (08) 8223 4108
Email: membership@ publicschoolsclub.com.au
Website: www.publicschoolsclub.com.au
Naval, Military and Air Force Club of South
Australia (A,2,3)
111 Hutt Street, ADELAIDE SA 5000
Ph: (08) 8223 2422 Fax: (08) 8232 3082
Email: admin@navmil.org
Website: www.navmil.org
Dunedin:
The Dunedin Club (A,C,3)
33 Melville Street DUNEDIN NEW ZEALAND
Ph: (64)(3) 477 0082 Fax: (64)(3) 477 0079
Email: gm@ dunedinclub.co.nz
Website: www.dunedinclub.co.nz
Napier:
Hawke’s Bay Club (A,2,3)
Cnr Marine Parade and Browning Street NAPIER
NEW ZEALAND
Ph: (64)(6) 835 7269 Fax: (64)(6) 835 0597
Email: hawkesbayclub@xtra.co.nz
Website: www.hawkesbayclub.co.nz
Wellington:
The Wellesley Boutique Hotel (A,C,3)
2-8 Maginnity Street P O Box 308 WELLINGTON
NEW ZEALAND
Ph: (64)(4) 474 1308 Fax: (64)(4) 473 1913
Email: info@wellesleyboutiquehotel.co.nz
Website: www.wellesleyboutiquehotel.co.nz
28th August 2013 – Closed for seismic upgrade
The Wellington Club (A,C,3)
88 The Terrace P O Box 10129 WELLINGTON
NEW ZEALAND
Ph: (64)(4) 472 0348 Fax: (64)(4) 472 2475
Email: info@wellingtonclub.co.nz
Website: www.wellingtonclub.co.nz
UNITED KINGDOM:
London:
City University Club (B,1,2,3)
50 Cornhill, LONDON EC3V 3PD ENGLAND
Ph: (44)(207) 626 8571 Fax: (44)(207) 626 8572
Email: secretary@ cityuniversityclub.co.uk
Website: www.cityuniversityclub.co.uk
The East India Devonshire Sports & Public Schools
Club Ltd (A,C,3)
16 St James’s Square LONDON SWIY 4LH
ENGLAND
Ph: (44)(207) 930 1000 Fax: (44)(207) 321 0217
E-mail: secretary@ eastindiaclub.co.uk
Website: www.eastindiaclub.co.uk
The Caledonian Club (A,D,1,2,3)
9 Halkin Street LONDON SWIX 7DR
ENGLAND
Ph: (44)(207) 235 5162 Fax: (44)(207) 235 4635
Email: ic@ caledonianclub.com
Website: www.caledonianclub.com
Royal Over-Seas League (A)
Over- Seas House, Park Place, St James’s St
LONDON SWIA 1LR ENGLAND
Ph: (44)(207) 408 0214 Fax: (44)(207) 499 6738
Email: reservations@rosl.org.uk
Website: www.rosl.org.uk
The In & Out Naval & Military Club (A,C,2,3)
No 4 St James’s Square, LONDON SW1Y 4JU
ENGLAND
Ph: (44)(20) 7827 5757 Fax: (44)(20) 7827 5758
Email: club@theinandout.co.uk
Website: www.theinandout.co.uk
The Commonwealth Club (B,3)
25 Northumberland Avenue
LONDON WC2N 5AP ENGLAND
Ph: (44)(20)7766 9200 Fax: (44)(20) 7766 9222
Email: reception@thercs.org
Website: www.thercs.org
Stoke Poges:
Stoke Park Club (A,C)
Park Road, Stoke Poges, BUCKINGHAMSHIRE SL2
4PG ENGLAND
Ph: (44)(175) 371 7171 Fax: (44)(175) 371 7181
Email: info@ stokeparkclub.com
Website: www.stokeparkclub.com
Edinbursh:
The Royal Over-Seas League (A)
Over-Seas House, 100 Princes St EDINBURGH EH2
3AB SCOTLAND
Ph: (44)(131) 225 1501 Fax: (44)(131) 226 3936
Email: reception@rosl-edinburgh.org
Website: www.rosl-edinburgh.org
The New Club (A,C)
86 Princes Street, EDINBURGH EH2 2BB
SCOTLAND
Ph: (44)(131) 226 4881 Fax: (44)(131) 225 9649
Email: info@ newclub.co.uk
Website: www.newclub.co.uk
Aberdeen:
The Royal Northern and University Club (A,3)
9 Albyn Place ABERDEEN AB10 1YE SCOTLAND
Ph: (44)(122)458 3292 Fax: (44)(122) 457 1082
Email: secretary@rnuc.org.uk
Website: www.rnuc.org.uk
REPUBLIC OF IRELAND:
Dublin:
The Stephen’s Green Hibernian Club (A)
9 St Stephen’s Green DUBLIN 2 IRELAND
Ph: (353)(1) 677 4744 Fax: (353)(1) 677 4202
Email: info@ sghc.ie
Website: www.sghc.ie
EUROPE:
BRUSSELS:
Belgium:
International Club Chateau Sainte-Anne (C,3)
Rue du Vieux Moulin, 103 Oude Molenstraat, B-1160
BELGUM BRUSSELS
Ph: (32)(2) 660 2900 Fax: (32)(2) 675 5444
Email: info@ chateau-sainte-anne.be
Website: www.chateau-sainte-anne.be
FRANCE:
Paris:
Saint James Paris (A,C,1,3)
43, Avenue Bugeaud, 75116 PARIS FRANCE
Ph: (33)(1) 4405 8181) Fax: (33)(1) 4405 8182
Email: contact@ saint-james-paris.com
Website: www.saint-james-paris.com
GERMANY:
Berlin:
International Club Berlin e. V (B,C,2,3)
Thuringer Allee 5-11 14052 BERLIN GERMANY
Ph: (49)(30)30 67 22-0 Fax: (49)(30) 301 98 38
Email: info@ic-b.de
Website: www.ic-b.de
LUXEMBOURG:
Cercle Munster (3)
5-7 rue Munster, L-2160 Luxembourg, Grand-Duche
de LUXEMBOURG
Ph: (35)(2) 47 06 431 Fax:(35)(2) 47 25 87
Email: reservation@munster.lu
Website: www.munster.lu
SPAIN:
Madrid:
MALAYSIA:
INDIA:
Kuala Lumpur:
West Bengal:
Secunderabad:
Penang:
Cape Town:
Secunderabad Club (A)
220, Picket, SECUNDERABAD, 500026 INDIA
Ph: (91)(40) 2780 4840 Fax: (91)(40) 2780 1763
Email: contactus@ secunderabadclub.org
Website: www.secunderabadclub.org
Penang Club (A,C,3,2)
42-B Jalan Sultan Ahmad Shah, 10050 PENANG
MALAYSIA
Ph: (604) 227 7366 Fax: (604) 227 6804
Email: pgclub@ po.jaring.my
Website: www.penangclub.org
Cape Town Club (B,1,3)
Leinster Hall, 7 Weltevreden Street,
GARDENS, CAPE TOWN 8001 SOUTH AFRICA
Ph: (27)( 21) 424 5586 Fax: (27)( 21) 424 6213
Email: thesecretary@ capetownclub.org.za
Website: www.capetownclub.org.za
PHILIPPINES:
Pretoria:
Mumbai:
Royal Bombay Yacht Club (A,C)
Chhatrapati Shivaji Maharaj Marg. (Apollo Bunder)
MUMBAI 400 001 INDIA
Ph: (91)(22) 2202 1880 Fax: (91)(22)2202 1014
Email: rbycmail@vsnl.net
Website: www.royalbombayyachtclub.com
Barcelona:
Rajasthan:
Circulo Ecuestre (A,C)
Balmes, 169 bis, CP 08006 BARCELONA SPAIN
Ph: (34)(93) 415 6000 Fax: (34)(93) 217 2853
Email: club@circuloecuestre.es
Website: www.circuloecuestre.es
Emerald Garden Club Ltd (A,C)
B-90C, Ganesh Marg, Papu Nagar, Jaipur-302015,
RAJASTHAN INDIA
Ph: (91)(141) 2719 199 Fax: (91)(141) 2719 192
Email: info@ emeraldgardenclub.com
Website: www.emeraldgardenclub.com
Amsterdam:
De Industrielle Groote Club (B,3,)
Dam 27, 1012 JS AMSTERDAM, THE
NETHERLANDS
Ph: (31)(20) 624 22 20 Fax: (31)(20) 638 41 66
Email: info@igc.nl
Website: www.igc.nl
ASIA:
Beijing:
Beijing American Club (C,3)
4th, 28th and 29th Floors, China Resources Building
No 8 Jianguomen North Avenue,
BEIJING 100005 P.R.C.
Ph: (86)(10) 8519 2888 Fax: (86)(10) 8519 2800
Email: contact@ americanclubbeijing.com
Website: www.americanclubbeijing.com
Taiwan:
American Club in China (C,3)
47 Pei An Road Taipei (104) TAIPEI TAIWAN R.O.C
Ph: (886)(2) 2885 8260 Fax: (886)(2) 2885 8055
Email: membership@ americanclub.org.tw
Website: www.americanclub.org.tw
Maharashtra:
PYC Hindu Gymkhana (A,C)
CTS No 766, F P No – 244, Bhandarkar Road,
Pune – 411 004 MAHARASHTRA, INDIA
Ph: (91)(20) 2566 3006 Fax: (91)(20) 2566 7382
Email: pycgymkhana@vsnl.net
Website: www.pycgymkhana.com
INDONESIA:
Jakarta:
SINGAPORE:
The Tanglin Club (A,C)
5 Stevens Road SINGAPORE 257814
Ph: (65) 6622 0555 Fax: (65) 6733 2391
Email: reservations@tanglin-club.org.sg
Website: www.tanglinclub.org.sg
Must not reside in Singapore or Johur Bahru
American Club – Singapore (C)
10 Claymore Hill SINGAPORE 229573
Ph: (65) 6737 3411 Fax: (65) 6732 8308
Email: concierge@ amclub.org.sg
Website: www.amclub.org.sg
NB: Passport, Member Card and proof
of non-residency required.
Mercantile Athletic Club (C,3)
Penthouse Floor, Work Trade Center, Jalan Jenderal
Sudirman Kav. 29-31
JAKARTA 12920 INDONESIA
Ph: (62) 21 521 1320 Fax: (62) 21 5211 333
Email: macclub@macjakarta.com
Website: www.macjakarta.com
Tower Club Singapore (C, 3)
9 Raffles Place SINGAPORE 048619
Ph: (65) 6737 3388 Fax: (65) 6438 3673
Email: concierge@tower-club.com.sg
Website: www.tower-club.com.sg
JAPAN:
Kobe:
Kobe Club (C, 3)
4-15-1 Kitano-cho Chuo-ku KOBE 650 0002 JAPAN
Ph: (81)(78) 241 2588 Fax: (81)(78) 291 8054
Email: kobeclub@ office.email..ne.jp
Website: www.kobeclub.org
Kowloon Cricket Club (C)
10 Cox’s Road Kowloon HONG KONG
Ph: (852) 2367 4141 Fax: (852) 2311 1432
Email: genman@kcc.org.hk
Website: www.kcc.org.hk
Tokyo American Club (A,C )
2-1-2 Azabudai, Minato-ku TOKYO 106 8649
JAPAN
Ph: (81)(3) 4588 0670 Fax: (81)(3) 4588 0703
Email: tac@tac-club.org
Website: www.tac-club.org
5000 yen Service charge per member unless staying
in Guest Studio
Ambassy Club Shanghai (C,3)
1500 Huai Hai Middle Road Xuhui SHANGHAI
200031 CHINA
Ph: (21) 6437 9800
Email: info@ ambassyclub.com.cn
Website: www.ambassyclub.com.cn
Manila Polo Club (A,C )
McKinley Road, Forbes Park, Makati City
MANILA PHILIPPINES
Ph: (63)(2) 817 0951 Fax: (63)(2) 817 6956
Email: gsd@manilapolo.com.ph
Website: www.manilapolo.com.ph
Singapore Cricket Club (C)
The American Club (C )
Floors 48-49, Exchange Square Two,
Central, HONG KONG
Ph: (852) 2842 7400 Fax: (852) 2523 9950
Email: member.services@ americanclubhk.com
Website: www.americanclubhk.com
Shanghai:
Manila:
Financial Club Jakarta (C,2,3)
Graha Niaga, 27th Floor, Jalan Sudirman Kaveling 58
JAKARTA 12190 INDONESIA
Ph: (62)(21) 250 5090 Fax: (62)(21) 250 5091
Email: fcj@ financialclub.co.id
Website: www.financialclub.co.id
Hong Kong:
The Hong Kong Club (B,C)
1 Jackson Road, Central, HONG KONG
Ph: (852) 2525 8251 Fax: (852) 2868 4655
Email: administration@thehongkongclub.hk
Website: www.thehongkongclub.hk
NB: Your credit card imprint will be taken.
Authority to HK$5000 will be obtained from bank
The Hanoi Club (A,C)
76 Yen Phu Street, Tay Ho District HANOI - VIETNAM
Ph: (84)(43) 823 8115 Fax: (84)(43) 823 8390
Email: membership@hanoi-club.com
Website: www.hanoi-club.com
Tollygunge Club Ltd (A,C,3)
120 Deshparan Sasmal Road, Kolkata -700 033
WEST BENGAL – INDIA
Ph: (91(33) 2473 2316 Fax: (91)(33) 2473 1903
Email: tollygungecl@ dataone.in
Website: www.tollygungeclub.org
Casino de Madrid (C)
Alcala 15, 28014 MADRID, SPAIN
Ph: (34)(91) 521 8700 Fax: (34)( 91) 523 4436
Email: clubes@casinodemadrid.es
Website: www.casinodemadrid.es
NETHERLANDS:
Hanoi:
The Royal Lake Club (C )
Peti Surat 10642 50720 KUALA LUMPUR
MALAYSIA
Ph: (60)(3) 2698 5133 Fax: (60)(3) 2698 9889
Email: quest@royallakeclub.org.my
Website: www.royallakeclub.org.my
Smartcard purchase RM5.00 on registration
Tokyo:
KOREA:
Seoul:
The Seoul Club (C)
#208 Jangchoong-dong,2-ga, Jung-gu SEOUL
REPUBLIC OF KOREA
Ph: (82)(2) 2238 7666 Fax: (82)(2) 2234 3866
Email: help@ seoulclub.org
Website: www.seoulclub.org
Connaught Drive SINGAPORE 179681
Ph: (65) 6338 9271 Fax: (65) 6337 0119
Email: scc@ scc.org.sg
Website: www.scc.org.sg
AFRICA:
The Pretoria Country Club (A,C)
241 Sidney Avenue Waterkloof
PRETORIA 0145 SOUTH AFRICA
Ph: (27)(12) 460 6242 Fax: (27)(12) 460 7107
Email: admin@ ptacc.co.za
Website: www.ptacc.co.za
Johannesburg:
The Wanderers Club (A,C)
21 North Road, Illovo P O Box 55019 Northlands
JOHANNESBURG 2116 SOUTH AFRICA
Ph: (27)(11) 447 7355 Fax: (27)(11) 447 8670
Email: contactus@wanderersclub.co.za
Website: www.wanderersclub.co.za
Rand Club (2,3)
33 Loveday Street, Corner Fox Street
JOHANNESBURG 2001 SOUTH AFRICA
Ph: (27)(11) 870 4260 Fax: (27)(11) 834 1247
Email: info@randclub.co.za
Website: www.randclub.co.za
Nairobi:
Muthaiga Country Club (A,C)
Muthaiga Road P O Box 16526 NAIROBI
KENYA 00620 AFRICA
Ph: (254)(20) 232 6651 Fax: (254)(20)260 6393
Email: reservations@mcc.co.ke
Website: www.mcc.co.ke
Nairobi Club (A,C)
Ngong Road PO Box 30171 Code 00100 GPO
NAIROBI KENYA AFRICA
Ph: (254)(20) 272 5726 Fax: (254)(20) 272 0096 Email: info@ nairobiclub.com
Website: www.nairobiclub.com
THAILAND:
MIDDLE EAST:
Bangkok:
UNITED ARAB
EMIRATES
Pacific City Club (C,2,3)
28th Floor, Two Pacific Place, 142 Sukhumvit Road
BANGKOK 10110 THAILAND
Ph: (66) (2) 653 2450 Fax: (66) (2) 653 2477
Email: gm.office@ pacificcityclub.com
Website: www.pacificcityclub.com
The Royal Bangkok Sports Club (C)
1 Henri Dunant Street BANGKOK 10330
THAILAND
Ph: (66 (2) 255 1420 Fax: (66) 2) 255 4158
Email: rbscbkk@hotmail.com
Website: www.rbsc.org
The British Club Bangkok (B,C)
189 Suriwongse Road, Bangrak, BANGKOK 10500
THAILAND
Ph: (66)(2) 234 0247 Fax: (66)(2)
235 1560
Email: info@britishclubbangkok.org
Website: www.britishclubbangkok.org
Abu Dhabi:
The Club (C)
Mena Sadiyat, Port Zayed, P O Box 658
ABU DHABI, UNITED ARAB EMIRATES
Ph: (971)(2) 673 1111 Fax: (971)(2) 673 1113
Email: admin@the-club.com
Website: www.the-club.com
Sharjah:
Marbella Resort (A,C)
Khalid Lagoon, Sharjah, P O Box 5017
SHARJAH, UNITED ARAB EMIRATES
Ph: (971)(6) 5741 111 Fax: (971)(6) 572 6050
Email: admin@marbellaresort.com
Website: www.marbellaaresort.com
VIETNAM:
UNITED STATES OF
AMERICA:
CALIFORNIA:
Ho Chi Minh City:
Los Angeles:
Sedona Town Club (A C)
65 Le Loi Boulevard, Saigon Centre, District 1,
HO CHI MINH CITY - VIETNAM
Ph: (84)(83) 825 0195 Fax: (84)(83) 822 9229
Email: sedonatownclub@ sedona.com.vn
Website: www.sedona.com.vn
Los Angeles Athletic Club (A, C, 1 )
431 West Seventh Street LOS ANGELES CA
90014-1601 USA
Ph: (1)(213) 625 2211 Fax: (1)(213) 689 1194
Email: laac@laac.net
55
Website: www.laac.com
Riviera Country Club (A,C)
1250 Capri Drive Pacific Palisades LOS ANGELES
CA 90272 USA
Ph: (1)(310) 454 6591 Fax: (1)(310) 454 8351
Email: kurtw@rccla.com
Website: www.therivieracountryclub.co
Marina Del Rey:
California Yacht Club (C,2)
4469 Admiralty Way MARINA DEL REY, CA
90292 USA
Ph: (1)(310)823 4567 Fax: (1)(310)822 3658
Email: Michele.underwood@ calyachtclub.net
Website: www.calyachtclub.com
Outrigger Canoe Club (C)
2909 Kalakaua Avenue HONOLULU HAWAII
96815 USA
Ph: (1)(808) 923 1585 Fax: (1)(808) 921 1414
Email: generalmanager@outriggercanoeclub.com
Website: www.outriggercanoeclub.com
Ph: (1)(513) 621 2708 Fax: (1)(513) 263-1010
Email: queencc@ queencityclub.com
Website: www.queencityclub.com
The Pacific Club (C,1,3,)
1451 Queen Emma Street, HONOLULU HAWAII
96813 USA
Ph: (1)(808) 536 0836 Fax: (1)(808) 533 6710
Email: front-office@thepacificclub.org
Website: www.thepacificclub.org
Philadelphia:
ILLINOIS:
Chicago:
San Francisco:
PENNSYLVANIA:
The Racquet Club of Philadelphia (A,C,D, 1)
215 South 16th Street, PHILADELPHIA PA
19102 USA
Ph: (1)(215) 772 1558 Fax: (1)(215) 772 1540
Email: lrlindsay@rcop.com
Website: www.rcop.com
The Union League Club of Philadelphia (A, C, D)
140 South Broad Street PHILADELPHIA PA
19102 USA
Ph: (1)(215) 563 6500 Fax: (1)(215) 851 8788 Email: membership@ unionleague.org
Website: www.unionleague.org
The Olympic Club (A, D, 2)
524 Post Street SAN FRANCISCO CA 94102 USA
Ph: (1)(415) 345 5100 Fax: (1)(415) 345 5262
Email: reciprocal@ olyclub.com
Website: www.olyclub.com
Union League Club of Chicago (A,C)
65 West Jackson Boulevard CHICAGO IL 60604
USA
Ph: (1) (312) 427 7800 Fax: (1)(312) 427 8117
Email: ulcrooms@ulcc.org
Website: www.ulcc.org
The University Club of San Francisco (A,C)
800 Powell Street, SAN FRANCISCO CA 94108
USA
Ph: (1)(415)781 0900 Fax: (1)(415)677 9323
Email: reservations@ univclub.com
Website: www.univclub.com
University Club of Chicago (A,C)
76 East Monroe Street CHICAGO IL 60603 USA
Ph: (1)(312) 726-2840 Fax: (1)(312) 726 0620
Email: soto@ucco.com
Website: www.ucco.com
Hamilton Club of Lancaster (C,D)
106 East Orange Street PHILADELPHIA PA
17602 USA
Ph: (1)(717) 3967 6296 Fax: (1)(717) 397 7873
Email: wdewan@hamiltonclub.org
Website: www.hamiltonclub.org
MASSACHUSETTS:
TEXAS:
Marines’ Memorial Association (A, C,3)
609 Sutter Street SAN FRANCISCO CA 94102
USA
Ph: (1)(415)673 6672 Fax: (1)(415)441 3649
Email: reservations@marinesclub.com
Website: www.marinesclub.com
Bakersfield:
The Petroleum Club of Bakersfield (C)
5060 California Avenue, Suite 1200 BAKERSFIELD
CA 93309 USA
Ph: (1)(661) 324 6561 Fax: (1)(661) 324 3744
Email: dena@thepetroleumclub.com
Website: www.thepetroleumclub.com
San Diego:
The University Club Atop Symphony Towers (3)
750 B Street, Suite 3400 SAN DIEGO CA 92101
USA
Ph: (1)(619) 234 5200 Fax: (1)(619) 234 2301
Email: ContactUs@ uc-sandiego.com
Website: www.uc-sandiego.com
Newport Beach:
The Balboa Bay Club (A, C)
1221 West Coast Highway NEWPORT BEACH CA
92663 USA
Ph: (1)(949) 645 5000 Fax: (1)(949) 630 4385
Email: rooms@balboabayclub.com
Website: www.balboabayclub.com
Boston:
Houston:
The University Club of Boston (B,C )
426 Stuart Street BOSTON MASSACHUSETTS
02116 USA
Ph: (1)(617) 266 5600 Fax: (1)(617) 266 5554
Email: bholk@ uclub.org
Website: www.uclub.org
The Houston Club (1,C,3)
910 Louisiana Street, One Shell Plaza, Suite 4900
HOUSTON 77002 USA
Ph: (1)(713) 225 3257
Email: administration@houstonclub.com
Webstie: www.houstonclub.com
MICHIGAN:
WASHINGTON DC:
The University Club of Washington (A, C)
1135 Sixteenth Street, Northwest WASHINGTON
DC 20036-4885 USA
Ph: (1)(202) 862 8800 Fax: (1)(202) 296 2347
Email: frontdesk@ universityclubdc.com
Website: www.universityclubdc.com
Detroit:
Detroit Athletic Club (A, C, 3)
241 Madison Avenue DETROIT MICHIGAN
48226 USA
Ph: (1)(313) 963 9200 Fax: (1)(313) 963 8891
Email: kenv@thedac.com
Website: www.thedac.com
MINNESOTA:
Minneapolis:
The Minneapolis Life Time Athletic Club (A, C, 1)
615 Second Avenue South MINNEAPOLIS
MINNESOTA 55402 USA
Ph: (1)(612) 339 3655 Fax: (1)(612) 339 7923
Email: mferguson@lifetimefitness.com
Website: www.mltac.com
MISSOURI:
Oakland:
St Louis:
The Bellevue Club (A,3)
525 Bellevue Avenue OAKLAND CA 94610 USA
Ph: (1)(510) 451 1000 Fax: (1)(510) 832 0219
Email: reception@bellevueclub.org
Website: www.bellevueclub.org
Missouri Athletic Club (A, C)
405 Washington Avenue ST LOUIS MISSOURI
63102 USA
Ph: (1)(314) 231 7220 Fax: (1)(314) 231 2327
Email: admin@mac-stl.org
Website: www.mac-stl.org
GEORGIA:
NEW YORK:
Atlanta:
The Georgian Club (B,2,3)
100 Galleria Parkway Suite 1700 ATLANTA GA
30339 USA
Ph: (1)(770) 952 6000 Fax: (1)(770) 933 0605
Email: info@ georgianclub.com
Website: www.georgianclub.com
HAWAII:
Honolulu:
Honolulu Club (C )
932 Ward Avenue HONOLULU HAWAII 96814
USA
Ph: (1)(808) 543 3900 Fax: (1)(808) 543 3944
Email: admin@honoluluclub.com
Website: www.honoluluclub.com
New York:
Salvador Bahia:
Yacht Clube Da Bahia
Avenida 7 de Stembro, 3.252 Salvador Bahia
BRAZIL
Ph: (71) 2105 9111 Fax: (71) 2105 9111
Email: icb@icb.com.br
Website: www.icb.com.br
CHILE:
Santiago:
Club De La Union (C)
Avenue Libertador Bernardo O’Higgins 1091
SANTIAGO CHILE
Ph: (56) 2428 4625 Fax: (56) 2427 0473
Email: secretaria@ clubdelaunion.cl
Website: www.clubdelaunion.cl
ARGENTIA:
Hurlingham:
New York Athletic Club (A, C)
180 Central Park South NEW YORK NY 100191561 USA
Ph: (1)(212) 247 5100 Fax: (1)(212) 767 7137
Email: reservation@nyac.org
Website: www.nyac.org
Hurlingham Club (A,C)
Av.J.A. Roca 1411, B1686 HURLINGHAM (1686)
BUENOS AIRES
ARGENTINA
Ph: (54)(11) 4662 5510 Fax: (54)(11) 4662 5516
Email: secretaria@hurlinghamclub.com.ar
Website: www.hurlinghamclub.com.ar The Princeton Club of New York (A,C)
15 West 43rd Street NEW YORK, NY 10036 USA
Ph: (1) 212 596 1200
Email: info@ princetonclub.com
Website: www.princetonclub.com
CANADA:
BRITISH COLUMBIA:
OHIO:
Cincinnati:
The Queen City Club (A)
331 East Fourth Street CINCINNATI OHIO
45202 USA
56
SOUTH AMERICA:
BRAZIL:
Vancouver:
The Vancouver Club (A,C)
915 West Hastings Street
VANCOUVER BRITISH COLUMBIA V6C 1C6
CANADA
Ph: (1)(604) 685 9321 Fax: (1)( 604) 685 7417
Email: concierge@vancouverclub.ca
Website: www.vancouverclub.ca
Vancouver Lawn Tennis & Badminton Club (C)
1630 West 15th Avenue
VANCOUVER BRITISH COLUMBIA V6J 2K7
CANADA
Ph: (1) (604) 731 2191 Fax: (1)(604) 731 4498
Email: membership@vanlawn.com
Website: www.vanlawn.com
Victoria:
Union Club of British Columbia (A,C)
805 Gordon Street,
VICTORIA BRITISH COLUMBIA V8W 1Z6
CANADA
Ph: (1)604) 25 384 1151 Fax: (1)(604) 25 384 0538
Email: info@ unionclub.com
Website: www.unionclub.com
ONTARIO:
Hamilton:
The Hamilton Club (B,1,3)
6 Main Street East HAMILTON ONTARIO L8N
138 CANADA
Ph: (1)(905) 522 4675 Fax: (1)(905) 546-5022
Email: info@thehamiltonclub.com
Website: www.thehamiltonclub.com
Toronto:
The Albany Club ((B,1,2,3)
91 King Street East TORONTO ONTARIO M5C
1G3 CANADA
Ph: (1)(416) 364 5411 Fax: (1) (416) 364 3075
Email: membership@albanyclub.ca
Website: www.albanyclub.ca
The Royal Canadian Yacht Club (C)
141 St. George Street TORONTO ONTARIO M5R
2L8 CANADA
Ph: (1)(416) 967 7245 Fax: (1)(416) 967 5710
Email: membership@rcyc.ca
Website: www.rcyc.ca
The Royal Canadian Military Institute (A,2,3)
426 University Avenue TORONTO ONTARIO
MSG 1S9 CANADA
Ph: (1)(416) 597 0286 Fax: (1)(416) 597 6919
Email: jessica.nigh@rcmi.org
Website: www.rcmi.org
(Closed for refurbishment 18th June 2010–2 years–
See The Albany Club)
Windsor:
Windsor Club (2,3)
100 Ouellette Avenue, 14th Floor WINDSOR,
ONTARIO N9A 6T3
Ph: (1)(519) 258 1465 Fax: (1)(519) 258 1466
Email: winclub@mnsi.net
Website: www.windsorclub.com
Ottawa:
Rideau Club (2,3)
99 Bank St. 15th Floor, OTTAWA ONTARIO K1P
6B9 CANADA
Ph: (1)(613) 233 7787 Fax: (1)(613) 233 1719
Email: lamsr@rideauclub.ca
Website: www.rideauclub.ca
QUEBEC:
Montreal:
Montreal Amateur Athletic Assoc (C)
2070 Peel Street MONTREAL QUEBEC H3A 1W6
CANADA
Ph: (1)(514) 845 2233 Fax: (1)(514) 845 1018
Email: info@ clubsportifmaa.com
Website: www.clubsportifmaa.com
Terminal City Club (A, D, 1)
837 West Hastings Street
VANCOUVER BRITISH COLUMBIA V6E 2E7
CANADA
Ph: (1) (604) 681 4121 Fax: (1)(604) 681 9634
Email: hotel@tcclub.com
Website: www.tcclub.com
Ta t t e r s aTa
l lt’ ts e C
r slaulbl ’ sA C
n nl uuba l ARnenpuoarlt R2 e0 p1 o3 r t 2 0 1 3
56
2 0 1 4 Ev e n t s C a l e n d a r
September
MARCH
Monday 3 Black Tie Boxing Tickets
Monday 1
to Friday 5
Tuesday 11 Sportsman’s Grill
Monday 1Seniors’ Morning Tea
Monday 17 St Patrick’s Day Additional Menu
Tuesday 2
Art Prize High Tea
Sunday 23 Tattersall’s Family Buffet Luncheon
Wednesday 3 Presidents of Other Clubs’ Dinner
Tuesday 25 Tattersall’s Club AGM
Thursday 4
Art Prize Cocktail Party &
Awards Evening
Saturday 1
Tattersall’s Racing Club Race Day
April 25th Tattersall’s Club Landscape Art Prize
Friday 5 Tattersall’s Ladies Charity Event
Friday 11 Black Tie Boxing Night
Jazz in the Art
Friday 18 Good Friday Public Holiday
Sunday 7 Father’s Day Breakfast
Monday 21 Easter Monday Public Holiday
Tuesday 16 Sportsman’s Grill
Thursday 24
Anzac Day Luncheon in Members’
Dining Room
October
Friday 25
Saturday 4Mumm Champagne Wine Dinner
Anzac Day Public Holiday
May
Sunday 11 Mother’s Day Lunch
Labour Day Public Holiday
Thursday 16
Father & Daughter Event
November
Tuesday 20 Wedding Menu Tasting
Monday 3 Melbourne Cup Calcutta
June
Tuesday 4 Melbourne Cup Lunch
Friday 6 Stradbroke Calcutta
Monday 9 Queen’s Birthday Public Holiday
Saturday 21 Monday 6 Tattersall’s Racing Club Race Day
Friday 14 Scheduled Public Holiday
Saturday 15
Sunday 16
G20 Summit
G20 Summit
July
Monday 17 G20 Summit
Wednesday 2Mother, Daughter, Grand-daughter
Tuesday 18 Sportsman’s Grill High Tea with Arcade Tenant
Friday 28 Daughter, Son Dinner Dance
Saturday 12
Saturday 29
Tattersall’s Racing Club Celebration Season Race Day
Tattersall’s Racing Club Race Day
Friday 25 Christmas in July Dinner Dance
Tuesday 29
An Evening with Commissioner Ian Stewart, Queensland Police Service with G20 Representative
August
Monday 4 December
Friday 5 Christmas Dinner Dance
Tuesday 9 Sportsman’s Grill Night
Friday 12 Christmas Dinner Dance
80th Birthday Members’ Dining
Room Lunch
Friday 19 President’s Shout
Christmas Dinner Dance
Wednesday 6 Senior Members’ Lunch
Tuesday 23Club Closes
Friday 8 Town & Country Drinks & Presidents’ at Home Dinner (80th Birthday Dinner)
Thursday 25Christmas Lunch
Wednesday 13 Ekka Public Holiday
Thursday 21 Life Members’ Dinner
Tuesday 26Wedding Menu Tasting
2 1 5 q ueen s treet, b r i s b ane q l d 4 0 0 0
G P O Bo x 1 2 4 , b r i s b ane 4 0 0 1
telep h one : ( 0 7 ) 3 3 3 1 8 8 8 8
F a c s i m i le : ( 0 7 ) 3 2 2 1 3 9 1 3
Email: admin@tattersallsclub.com
w e b s i te : w w w . t a t t e r s a l l s c l u b . c o m

annual report 2013 - Tattersall`s Club

Transcription

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