The Recreation Club. Balance Sheet as at 30 June 2014

Transcription

1 The Recreation Club Balance Sheet as at 30 June 2014 Notes 30/06/ /06/2013 $ Change % Change ASSETS Current Assets Cash at Bank Operating Accounts Operating Account ENCOMPASS CU Encompass CU (S1) 29,379 29, % Encompass CU (S30) 1,140 1, % Total Operating Account ENCOMPASS CU 30,519 30, % Operating Account TRANSPORT MUTUAL CU (S4) 10,709 30,462 (19,753) -65% (S4.1) % (S4.3) % (S4.4) 4,352 4, % (S4.5) 12,758 12, % (S4) 39,333 16,707 22, % (I-3) 11,923 11, % Total Operating Account TRANSPORT MUTUAL CU 80,063 76,737 3,327 4% Total Operating Accounts 110, ,206 3,376 22% Short Term Deposits Short Term Deposit ENCOMPASS CU Encompass CU (I91) 12,066 11, % Encompass CU (I92) 27,784 26, % Total Short Term Deposit ENCOMPASS CU 39,849 38,400 1,450 5% Short Term Deposit TRANSPORT MUTUAL CU (I1-1) 23,542 22, % Total Short Term Deposit TRANSPORT MUTUAL CU 23,542 22, % Total Short Term Deposits 63,391 61,223 2,169 5% Other Accounts Paypal Suspense Account 6, ,495 0% Total Other Accounts 6, ,495 - Total Cash at Bank 180, ,429 12,040 7% Other Current Assets Movie Tickets - Stock on Hand bb 10,501 13,967 (3,466) -25% Taronga Park Zoo Tickets bb Theme Park Tickets Gift Cards on Hand 0 2,190 (2,190) Total Other Current Assets 10,963 16,157 (5,194) -32% Total Current Assets 191, ,586 6,845 4% Other Assets Shares in Credit Union % Total Other Assets % TOTAL ASSETS 191, ,606 6,845 13% LIABILITIES Current Liabilities 5 in 10 prizes Quarterly draw payable Outstanding 5 in 10 prize liability to be paid - estimated 3,183 5,480 (2,297) -42% 3,183 5,480 (2,297) -42% Other Current Liabilities Other Invoices payable & liabilities 275 2,410 (2,135) Good and Services Tax Tax Collected 15,205 20,000 (4,795) -24% Tax Paid and Payable (13,683) (16,404) 2,721-17% Total Good and Services Tax 1,522 3,596 (2,074) Total Other Current Liabilities 1,797 6,006 (4,209) -70% Total Current Liabilities 4,980 11,486 (6,506) -57%

2 The Recreation Club Balance Sheet as at 30 June 2014 Notes 30/06/ /06/2013 $ Change % Change TOTAL LIABILITIES 4,980 11,486 (6,506) 0% NET ASSETS 186, ,119 13,352 14% EQUITY Opening Bal Equity 173, ,873 (6,754) -4% Net Income 13,332 (6,754) 20, % TOTAL EQUITY 186, ,119 13,332 8%

3 The Recreation Club Inc Profit & Loss Statement For the year ended 30 June 2014 Notes 2013/ /13 INCOME Ordinary Income/Expense Income Income from Operations 5in10 Subscriptions 1 48,753 45,829 Bank Interest - Transport Mutual 1,195 1,455 Bank Interest - Encompass 1,499 1,811 RecClub Memberships Subscriptions 2 52,315 51,732 Entertainment Books 3 1,118 0 Movie Ticket Net 4 (5,178) 13,422 ATO Refund 714 2,731 Credit union sponsorship 5 12,000 22,000 Taronga Zoo Sales RecClub account maintenance 0 0 Unidentified Cash deposits 0 75 Total Income from Operations 112, ,055 Income from Events Rec Club Social Twilight Harbour Cruise 0 1,940 Easter show 24,156 11,981 Christmas Family Picnic 6 8,083 6,124 Family Day - Water Park 876 1,756 Lovedale Long Lunch 1,182 0 Rock Climbing Ski Trip - August ,570 0 MUMU Grill 1,027 0 Trivia Nights Miscellaneous Sporting Events 46,127 22,241 Ambrose Golf Day 4,157 0 Championship Golf Day 3,567 4,081 Theatre Parties 7,723 4,081 Theatre Tickets 8 3, ,954 0 Total Income from Events 57,804 26,321 Total Income 170, ,376 EXPENSES 5 in 10 Expenses 5 in 10 prizes 1 (28,337) (25,890) (28,337) (25,890) Miscellaneous Expenses Bank Fees (includes cheque fees) 9 (955) (1,332) Entertainment Books (130) (2,559) Gifts (165) 0 Mother's Day Classic (70) 0 RecClub General Expenses 4 (1,097) (288) Taronga Zoo Tickets (2,516) (1,150) (4,934) (5,328)

4 The Recreation Club Inc Profit & Loss Statement For the year ended 30 June 2014 Notes 2013/ /13 Draws Christmas Draws 0 (600) Easter Draws (720) (600) Father's Day Draws (600) (590) Mother's day Draws (780) (600) Lucky Members Draws (500) (2,000) (2,600) (4,390) Donations Breast Cancer Foundation 1 (60) 0 (60) 0 Sub- Club Subsidies Fishing Club 0 (550) 0 (550) Social & Sporting Sponsorship City to Surf (1,329) (231) Ambrose Golf day (5,305) (5,474) Championship Golf Day (6,074) (7,793) MUMU Grill (1,278) (151) After Work Catchups (959) 0 (14,946) (13,650) Rec Club social expenses ATO (3,884) (2,890) Cockatoo Island Walk (427) 0 Christmas Drinks 0 (2,128) Corporate Store Payment 0 (3,495) Credit Card Expenses 0 (6,129) Cruise Expenses 0 (2,597) Cheque Payments 0 (201) Easter show tickets 7 (25,210) (11,959) Christmas Family Picnic (40,262) (53,237) Fishing Championship (163) 0 Family Day - Water Park 6 (1,163) (3,199) Lovedale Long Lunch (2,810) 0 Picnic in the Park 0 (317) Regional Grants 11 (12,000) (16,000) Regional Subsidy XMAS 5 (2,724) 0 Ski Trip - August 2013 (4,172) (19,017) Ski Trip - Deposit - FY15 (750) 0 Theatre tickets 8 (3,900) 0 Trivia Night (5,391) (1,152) 5 in 10 Balance Sheet Adjustment (3,323) (1) Trivia Night Balance Sheet Adjustment (275) (106,453) (122,322) Total Expenses (157,329) (172,130) Net Income / (Loss) 13,332 (6,754)

5 Notes to the Financial Statements Recreation Club Inc ABN: RECREATION CLUB INC Recreation Club as an incorporated entity for reporting purpose. The club is responsible for the promotion of good fellowship, conducting of social entertainments and providing sporting and recreational activities and access to discounted goods and servic bb Bank-Operating Account/Short Term Deposit The Recreation Club has two operating accounts one with Transport Mutual Credit Union (formlery RTA Staff Credit Union) and the other with Encompass Credit Union. The club also has a short term deposit that has a maturity of less than 12 months. Tickets By end of June 2014, the Recreation Club had a relatively lower number of movie and zoo tickets than the prior year due change in process in better managing the ticket sales in 10 club The 5 in 10 club has been running now for more than 20 years and has a maximum membership of 1000 at any given time. Each member contributes $2.10 per fortnight for a three digit number if this number matches the last three digits of the first lottery dra 2. Membership Subscriptions The Recreation club has a total membership of more than 2000 who pay an annual subscription of $ Entertainments Books The Recreation Club purchases Entertainment books for its members. The books contain discounts at a plethora of restaurants etc. 4. Profit / loss sales of tickets The Recreation Club during the year sell Imax, Cinema, Taronga zoo and Theme Park tickets, at a discount. Because of the subsidy, it generally runs at a loss. 5. Sponsorship Sponsorship from Transport Mutual Credit Union and also Encompass Credit Union excluding 10% GST payable 6. Family Christmas Picnic and parties. cash at the end of the financial year 7. Eastershow Tickets

6 Notes to the Financial Statements Recreation Club Inc ABN: RECREATION CLUB INC Recreation Club as an incorporated entity for reporting purpose. The club is responsible for the promotion of good fellowship, conducting of social entertainments and providing sporting and recreational activities and access to discounted goods and servic The Club sells on average 600 tickets to members entitling admission to the Sydney Royal Easter Show. These tickets are at discounted group rates and are generally subsidised additionally by the Club. 8. Theatre tickets The Rec Club provided group discount tickets to variety of theatre events such as various musicals. 9 Bank charges These charges relate to the EFTPOS transaction at the cashier. These are declining as transactions are shifting online. 10 Other expenses Includes cost associated in giving members a token of appreciation under special circumstances and also general office supplies. 11 Regional grants Subsidised regional events include Lovedale Long lunch, Trivia night, Mother's day, Father's day and Easter Baskets. 12 Taronga Zoo Passes Introduced in late 2008, where the club has acquired 2 annual taronga zoo passes to use for. Currently the passes can be booked online using Microsoft Outlook. The zoo passess are now available in number of locations that include for example North Sydney, Parramatta (both Argyle St and Octagon).

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