2011 Annual Report - Cronulla Golf Club

CRONULLA GOLF CLUB 

LIMITED 

ABN 41 000 059 478 

ANNUAL REPORT & BALANCE SHEET 

FOR THE YEAR ENDED JUNE 2011

Objectives of 

Cronulla Golf Club Limited 

1. To provide the best quality golfing 

conditions possible with the resources 

available 

2. To provide those conditions at an 

economical cost which is in the interests 

of all members 

3. To provide a harmonious and 

comfortable environment both on the 

course and in the clubhouse which all 

Members are able to enjoy

CRONULLA 

GOLF CLUB LIMITED 

ABN 41 000 059 478 

DIRECTORS 2010-2011 

President: 

T. DONAGHY JP 

DIRECTORs 2010-2011 

Vice-President: Treasurer: 

R. DOWD P. FOWLER 

Captain: General Board: Vice-Captain: 

M. WHETTERS All the above plus- G. BUNKER 

G. AMOS, 

R. DEARDS, L. D’APICE 

L. BUNKER, I. SAINT, J. PARTON, C. GOODYER 

Delegate to N.S.W. Golf Association: 

M. WHETTERS 

General Manager: 

J. HAWKINS JP 

NOTICE IS HEREBY GIVEN that the ANNUAL GENERAL MEETING of the MEMBERS of CRONULLA GOLF 

CLUB LIMITED will be held in the Clubhouse, corner Elouera Road and Hume Road, Cronulla on Wednesday 14th 

September 2011, at 7:30pm. 

All Life Members, Full Playing Members, Playing Members, Restricted Full Playing Members who have been a 

member of that class for not less than one (1) year, Restricted Playing Members who have been a member of that 

class for not less than one (1) year and Clubhouse Voting Members are entitled to vote. 

VOTING FOR THE ELECTION OF THE BOARD OF DIRECTORS will be by electronic means from the clubhouse 

and from remote computers from 7th to 13th September or by POSTAL VOTE which is available on application 

from the club office. 

CRONULLA GOLF CLUB LIMITED ABN 41 000 059 478 | 1

AGENDA 

Business: 

1. To receive the minutes of the 2010 Annual General Meeting held on Wednesday 22nd September, 2010. 

A copy of the Minutes of such meeting is displayed on the Notice Board for your information. 

2. To re-appoint Douglas Maher Coleman Assurance Services Pty Ltd. as auditor of the Club for 2011-2012. 

3. To receive the Income Statement, Balance Sheet, Statement of Recognised Income and Expenditure, Statement 

of Cash Flows together with the Notes to the Financial Statements for the year ended 30th June 2011. 

NOTE: Members wishing to raise queries or seek information in reference to the Annual Accounts are 

requested to give notice in writing to the General Manager no later than Tuesday 6th September, 2011. 

4. ORDINARY RESOLUTION 

That pursuant to the Registered Clubs Act; 

(a) The Members approve and agree to the following benefits and expenditure, by the Club in a sum not exceeding 

$50,000, for certain Members of the Club, over the following twelve months: 

• The provision of refreshments for persons attending Board Meetings and the provision of a meal to Board 

Members, where a Meeting of the Board corresponds with a normal meal time, 

• Reasonable expenses incurred by Members of the Board and Ladies Committee in relation to their 

duties including miscellaneous expenses on production of documentary evidence of such expenditure, 

entertainment of special guests of the Club, attendance at inter-club activities and other promotional 

activities performed by them. 

• Reasonable costs of attendance at functions, with their spouses or partners when appropriate, to represent 

the Club. 

• The provision of apparel, golf balls and refreshments to members of teams representing the Club in any 

competition or event as determined by the Board. 

• Attendance without charge of winners of Major Events, and of the President, Captain and Directors, Lady 

President and Lady Captain, at the Annual Presentation function. 

• Preferential allocation of starting times for the President, Captain, Ladies’ President and Ladies’ Captain, 

together with their playing partners on days when there is a time sheet for competition, and for members of 

the Board, Ladies Committee and Life Members on days when there is a time sheet for competition. 

• Specified car parking spaces reserved for the use of the President/Vice President, Captain and Treasurer and 

six spaces for Board and Life Members of the Club. 

These spots to be available on Ladies’ competition days (Wednesday and Friday) for the Ladies’ President, 

Captain and members of the Ladies’ Committee. 

• Attendance without charge of the Board Members and their partners at the Annual “Fellowship” Dinner, 

and attendance without charge of the members of the Ladies Committee at their Annual “End of Year” 

Dinner. 

(b) The Members acknowledge that the benefits set out above are not available to Members generally, but for 

those who are Directors of the Club and those persons specified in the Resolution. 

EXPLANATORY NOTES: 

The purpose of the resolution is to meet the disclosure requirements of the Corporations Law and the Registered 

Clubs Act. It relates to benefits or advantages which are received by some Members, but not available to all 

Members. 

The ordinary resolution must be passed as a whole and cannot be amended by motions from the floor of the 

meeting or divided into two or more separate resolutions. 

To be passed the ordinary resolution must receive votes in its favour from not less than a simple majority of those 

Members, who being entitled to do so, vote in person at the meeting. 

2 | CRONULLA GOLF CLUB LIMITED ABN 41 000 059 478

The Registered Club’s Act 1976 (NSW) prohibits proxy voting at any General Meeting (including the Annual 

General Meeting) of the Club and at any election of the Board of Directors.” 

5. SPECIAL RESOLUTION – LIFE MEMBERSHIP 

Members will be asked to consider and if thought fit, pass the following resolution which is proposed as a 

special resolution: 

To decide on the election of Keith Thompson #20128 to Life Membership in accordance with Rule 26 of the Club’s 

Constitution. (Note: the citation will be read to the meeting before a vote by secret ballot is taken. The Board 

unanimously support this resolution.) 

General Notes to Members Regarding the Special Resolution 

• Pursuant to Rule 110 of the Club’s Constitution the following classes of members are eligible to vote on Special 

Resolutions: 

(a) Financial Full Playing Members; 

(b) Financial Restricted Full Playing Members who have been a member of that class for not less than 1 year; 

(c) Financial Playing Members; 

(d) Financial Restricted Playing Members who have been a member of that class for not less than 1 year; and 

(e) Life Members. 

• To be passed a Special Resolution must receive votes in their favour from not less than three quarters of those 

members, who being entitled to do so, vote in person at the meeting. 

• As a result of the Special Resolution provisions of the Corporations Act 2001 (Cth), the Special Resolution must 

be considered as a whole and cannot be altered by motions from the floor of the meeting. 

• Members who are employees of the Club are not entitled to vote. 

• Proxy voting is prohibited by the Registered Clubs Act 1976 (NSW). 

• The Board recommends that members vote in favour of the Special Resolution. 

6. Report of the Returning Officer as to the result of the election of the Board of Directors 

7. General Discussion (without resolution) 

Dated 19th August, 2011 

By order of the Board 

J.J. Hawkins 

General Manager 


PREsIDENT’s REPORT 

Members, it gives me great pleasure on behalf of the Board to submit the annual report for 2010/2011. 

The Club continues to trade profitably and we are pleased to report an overall profit for 2010/2011 of $317,390. This 

result is after a period of what could be considered the largest capital expenditure undertaken by Cronulla Golf 

Club in the last 50 years with new course works, replacement of irrigation, additional reticulation and infrastructure 

to accommodate recycled water and the new maintenance facility, it is a most pleasing result. 

It also provides a strong bottom line, placing the Club in a sound financial position for what lies ahead what with 

the rising cost of living, a new carbon tax on the horizon, significant increases to the cost of electricity and potable 

water. We are well placed to face these challenges. 

In view of these circumstances the Board, after consultation with our Auditors, has decided to write off the costs 

of the course works within this last financial year, which in accounting terms goes straight to the bottom line and 

we will record a loss for the year. Let me assure Members however, that this no way affects our cash position and 

we remain a profitable operation going forward. The Board have chosen to write this expenditure off in one year 

rather than amortise it over 20 or 50 years, thereby clearing the accounts of any ongoing liability. I refer Members 

to the Treasures report for more specific detail. 

Our thanks go to our Vice President Russell Dowd, Treasurer Peter Fowler, Captain Mark Whetters, General 

Manager Jenny Hawkins, Course Superintendent Greg Marshall and the office staff together with members of the 

Board, for their efforts throughout 2010/2011 in achieving this result. 

Members are no doubt enjoying their golf free of the interruption of major work and temporary greens on what 

is considered by most to be vast improvements to the course and well worth the wait. The course is in excellent 

condition despite recent ‘flooding’ and members, in increasing numbers are making use of the facility with the 

extra Tuesday competition and social rounds through the week. 

Despite these ever increasing demands, our course superintendent Greg Marshall and his staff continue to turn out 

a class facility. Pleasingly, the Board receives many compliments from both visitors and members on the presentation 

and condition of the course. The entire greens staff are to be congratulated for their efforts. Thanks must also go to 

our Greens Committee, led by Russell Dowd, who donate considerable personal time to assist Greg in this regard. 

We have now finalised our agreement with Sutherland Shire Council for the supply of tertiary treated recycled 

water from Cronulla Sewerage Treatment plant. This supply is vital to our long term sustainability. As previously 

reported, the Board has taken steps to install new irrigation pipe work, storage tanks and pumps, for the supply 

and storage of the recycled water which will finally be available in time for spring. 

The Match committee and our Captain, Mark Whetters deserve our thanks for a successful and varied program of 

events over the last twelve months and the assistance provided by our Professional Colin Arnold and all his staff 

has been outstanding. 

Our Junior Development program continues to be popular with school holiday clinics well supported. Thanks to our 

professionals, Colin Arnold and Warwick Dews, together with Jim Forrest, Richard Beer and interested members. 

Friday nights have become increasingly popular with live entertainment monthly, plus happy hour and raffles. 

Carole Goodyer and her committee continue to bring new and varied social events to the Club and have 

encouraged the increased use of our facilities by members, their families and guests. My thanks go to Carole, 

members of the Social Committee and Jenny Hawkins for their time and effort to make these events a success. 

Furthermore the Social Committee would be first to acknowledge the efforts of the office staff, Sue, Kelly and 

Kylie, together with Ged and the Bar staff and caterer Phil Maynard and his staff, all of whom have put in that extra 

effort to make the functions enjoyable for all. 

I have long held the view that our Clubhouse is the most underutilised asset in the Sutherland Shire and in particular 

the Cronulla precinct. It is the responsibility of a Board to continue to consider options to maintain and/or add to the 

income stream of the organisation to protect its viability. With that in mind the Board are seeking preliminary advice 

from experts and consultants to look at options for utilisation of the clubhouse with a more suitable configuration, 

to increase return from functions without impinging on members’ ambience and use of the facility. However, I stress 

to Members it is all very preliminary until such time as a viable option can be presented to members for comment. 

I take this opportunity to express my sincere thanks to members of the Board for their efforts throughout the year, 

much has been achieved and the Club is positioned well for the future. 

I encourage all members to attend the AGM to be held on the 14th September 2011 at the Clubhouse and 

commend you to the other reports contained herein to obtain a better understanding of the issues and 

achievements of the past year. 

Terry Donaghy 

President 


TREAsURER’s REPORT 

The profit from the normal trading operations of the club was $317,390 compared to the profit of $634,508 for the 

previous year. 

However, the Board decided that it was appropriate to write off the full costs of recent expenditure on improvements 

to the course amounting to $2,022,191. As a result the accounts show a loss of $1,704,801 for the year. 

In the prior years, whilst work was being carried out, the expenditure was capitalised and amortised initially over 20 

years and changed to 50 years in 2010. As the work on the course has now been completed, the board considered 

it appropriate to review the accounting treatment of Course Improvements. 

Accounting Standard AASB116 deals with the appropriate treatment of Property, Plant & Equipment (which would 

include Course Improvements). The standard allows for either the capitalisation and depreciation of the works 

over their useful life (as was adopted in previous years) or the immediate write off of the expenditure. After due 

consideration, the Board decided it was appropriate to write off the total cost of the works against this years 

accounts. 

It is also important to realise that this action has no effect on our cash position as these costs were incurred and 

paid for in prior years. 

At the same time the Board discussed whether it was appropriate to have the land re-valued and to bring to 

account any increase as an extraordinary gain for the year. As this valuation would cost in the vicinity of $10,000 

and would need to be made every 3 to 4 years it was agreed that this was not really necessary. 

Detailed Trading Results appear at the end of this publication. 

The main factors influencing the result for the year were as follows. 

Membership 

• Subscriptions at $2,025,972 were 2.5% above last year’s amount of $1,975,555. As members are aware we 

had difficulty filling vacancies in various membership categories during the year which meant revenue was 

lower than expected. There are still vacancies in most membership categories. 

• The net result after deducting affiliation fees was $1,970,119, last year $1,919,064. 

Bar 

• Bar Sales for the year at $591,970 were $22,471 higher than last year. 

• Costs were up from $188,574 to $197,774 due to higher Staff Costs. 

• The profit from Bar Trading was $145,813 an increase of $2,337 over last year’s result. 

• Margins for the year were the same as last year – 58%. 

Poker Machines 

• Net revenue was $59,785 an increase of $13,112 over last year. 

• Costs were $1,348 lower than last year. 

• The trading profit was $49,966 compared with $35,506 last year. 

Golf Operations 

• The contribution from Golf Operations was $114,384 compared with $111,178 last year. 

Administration and General Expenses 

• Total overheads were $524,708 down from $545,340 last year. 

• The main reasons for the decrease were lower spending on Bank Charges, Printing and Stationery and Staff 

Costs. 

Course Expenses 

• Total overheads before writing off Course Improvements were $1,440,789 which was $45,402 lower than last 

year. A very good result. 

House 

• Total overheads were $269,376 which was $45,935 higher than last year mainly due to expenditure on 

Consultants $29,975. Refer to comments in the President’s Report. 


TREAsURER’s REPORT (CONT’D) 

Profit & Loss 

• The operating profit from trading for the year before the write off of Course Improvements was $77,454 ( Last 

Year $1,841) 

• Entrance Fees were $237,209 which was substantially lower than last year’s amount of $438,342. As it has 

been difficult to attract new members it was decided to allow entrance fees to be paid by annual instalments 

over a five year period and this option has been taken up by a number of applicants for membership. 

• The final payment of the Levy which was imposed to assist with funding Course Improvements was due in 

the 2010 financial year but an overdue amount of $2,727 was received during the 2011 year. 

The total amount received since 2006 was $692,098. 

• Total result for the year from normal trading operations prior to the write off of course improvements was as 

shown above $317,390. 

Capital Expenditure 

Major capital purchases 

House $ 

Computer Equipment 18,790 

Oven for kitchen 15,560 

Projector, screen & television 7,634 

Replacement Air Conditioners 8,445 

Bistro Counter & storage unit 3,745 

Local Rules Board 4,995 

Other 6,268 

Course 

2 Kawasaki Mules 24,509 

Top Dresser 62,727 

2 Fairway Mowers 119,600 

Bunker Rake/Pump 26,454 

Other 11,479 

Irrigation Work 40,512 

Total: 350,718 

Funds 

At the end of the financial year a total of $635,726 was held at the bank or was on interest bearing deposit (last year 

$207,043). Income in Advance at 30 June 2011 was $1,019,996 (last year $943,842). 

My thanks to Jenny Hawkins and all the office staff for their dedication to the Cronulla Golf Club and the assistance 

that they have so willingly and capably provided to me and other board members during the year. 

Peter Fowler 

Treasurer 


GENERAL MANAGER’s REPORT 

The publishing of our annual report heralds the commencement of annual elections. Any member wishing to 

nominate as a Director may collect an information pack from the office outlining the responsibilities of that role. 

I thank the current Directors for their assistance, encouragement and continued support and commend them on 

the outstanding voluntary work they do for this club. I particularly congratulate the committee of Directors who 

have negotiated the End User Agreement for recycled water with Sutherland Council. This project has been in the 

pipeline since 2007 and has now finally come to fruition. We expect to have water available for irrigation by spring. 

Our course is in excellent condition and I must congratulate our Course Superintendent, Greg Marshall and his 

staff for the excellent presentation of our course, especially after the recent inundation of rain which was the worst 

in the area for many years and caused the course to be closed for a week. 

The extreme weather over the past few months has not only caused course closures but adversely affected our 

revenue in the areas of competition fees, bar and poker machines, however our result was slightly better than the 

previous year in all of those areas. 

The Board recently conducted a preliminary survey of membership categories in order to ascertain member’s 

interest in the different categories. The object of the exercise is to simplify the membership and to give all 

members options according to their interests, age and time constraints whilst maintaining or increasing the 

revenue from memberships which is the lifeline for any golf club. The current Board will recommend that the 

incoming Board continue with this exercise with the aim to take it firstly to a focus group of members, then to an 

information evening and finally a general meeting early next year to be finalised before members accounts are 

set for 2012-2013. 

The Board and Management are continually investigating additional revenue streams such as sponsorship and 

extra patronage of the clubhouse facilities. We also continue to explore clubhouse options and facilities to 

more successfully incorporate functions and ways to achieve a separation of members and function areas where 

members can enjoy their facilities unperturbed by function activities. 

I would like to once again acknowledge our wonderful staff for their ongoing efforts and loyalty. Sue, Kelly and 

Kylie have again ably assisted in the many and varied tasks of running a golf club and are always willing to assist 

any member. I thank our bar staff for friendly service, Col, Warwick and Melinda in the pro shop and Phil and his 

staff in the bistro. 

Congratulations to all winners of the various major events over the past twelve months and to our pennant players 

who represented our Club during the year. 

I wish to personally thank the many volunteers who have come along on Friday nights to sell raffle tickets. It is 

hoped that members will continue to support these nights and come along for dinner on Friday and Sunday 

evenings. The introduction of live music on the last Friday of each month is becoming increasingly popular. and 

we will endeavour to provide more variety. 

Thank you also to the Ladies Committee who continue to present a successful programme of ladies events, also to 

Frank Hockings and his committee who offer a wonderful social golfing programme every Tuesday morning and of 

course Keith Thompson who works constantly on bringing members an informative and well presented newsletter 

every three months. Our Club would not function without these members who freely volunteer their time in so 

many ways, I sincerely thank you all. 

To our loyal membership I say thank you for your patronage, the Board and Management are committed to you all 

and the future of Cronulla Golf Club and the staff committed to providing excellent customer service. 

Jenny Hawkins 

General Manager 


COURsE REPORT 

Since September 2010 the course has been subjected to a wide variety of weather patterns. At the year end the 

course was in excellent condition assisted by good rainfalls in November and December. Hot and dry conditions 

in January and February once again saw parts of the course dry out and some greens in danger of damage to turf. 

On one occasion in this period both of the storage tanks were emptied (partly due to flow restrictions on input 

from the bore and potable water supply) in an attempt to save the greens from damage. 

In March April and May of this year the earlier weather pattern was reversed and a total of 600 mm fell on the 

course – approximately half of the annual average rainfall. Flooding of the course in April resulted in closure for 

several days. A problem with the drain discharging water from the club house caused flooding of the professional’s 

shop and storage room with considerable damage sustained. 

After a drier period in June the heavens opened once again in July – Sydney’s wettest July for 60 years. In one 

three day period nearly 300 mm fell on the course. Flooding was the worst seen for many years and for most 

members the worst ever. Continuous pumping for these days and three more after the rain stopped, together with 

round the clock operation of the food gates, removed most of the water from the course. 

Despite the variations in weather conditions the course remained in very good condition and with the growing 

season approaching expectations are high for further improvement in the summer. 

In October last year the new 15th and reconstructed 10th holes were in play. Further work on the Masterplan has 

been suspended until financial conditions are suitable again. In the interim a period of consolidation has allowed 

members to enjoy consistent playing conditions. Subsequent to the completions of this work the course was 

assessed in December under the new Course Rating System for 5 different courses – 3 for men and 2 for ladies. 

The ratings were communicated to the club by NSW Golf in May and resulted in ratings of 70 for the men’s Black 

and Blue courses, 68 for the men’s White course’ 74 for the ladies Red course and 72 for the ladies Gold course. 

These were very satisfactory results and reflected well on the design of the new and reconstructed holes resulting 

from the Masterplan work. 

Connection of the Recycled Water system to the club’s two storage tanks was completed in April. Some recycled 

water was received as part of the system testing and commissioning process. Prolonged negotiations over the 

End User Agreement, involving negotiations to better protect the club’s long term interests meant that the actual 

supply date was put back to early August. 

Work carried out during the year to improve the course included: 

• Extension of the irrigation system on the 12th, 16th (part) and 18th holes. Connection to the new control 

system will allow much greater flexibility and coverage in the irrigation cycle. 

• Replacement of the last remaining section of the old AC fibre irrigation pipe between the vicinity of the 16th 

green and the 9th fairway. 

• Extension of the 4th,6th , 7th and 10th tees to enhance the course rating. 

• Additional car parking area for the greens staff and visitors to the greenkeepers facility. 

• Shelter sheds for players at the 15th tee. 

• New drainage line from the club house to Hume Rd replacing a smaller pipe connected to the Hume Rd 

Gross Pollution Trap. This old pipe was the principal cause of the pro shop flooding in April. 

• Water fountains fitted with refrigeration units and connected to the potable water supply. These units 

originally required manual filling by green keeping staff. 

• Construction of a green house for the plant nursery. 

As part of the ongoing machinery replacement programme the following equipment was obtained during the 

year: 

• Two fairway mowers. 

• Two Kawasaki mules (staff transport machines). 

• Bunker rake. 

• A multi purpose tractor incorporating a top dresser and spray tank which may also accommodate coring 

equipment in the future. 


The Greens Superintendent Greg Marshall and his assistant Ben Bruzgulis and all the green keeping staff are 

highly commended for their excellent team work and consistently good preparation of the course. I am sure that 

many members will share the view that the course this year is in the best condition for many years if not ever. 

Finally I would like to thank the members of the Greens Committee who have consistently applied themselves to 

the task of providing guidelines for course improvement and maintenance. 

Russell Dowd 

Greens & Masterplan Chairman 


CAPTAIN’s REPORT 

Firstly I would like to thank those members of the Club who put in so much of their time to run our Representative 

Pennant Teams. Neil Slack (Major Pennant), Rob Wood (Masters Pennant), Geoff Bunker (Junior Pennant), George 

Tilling (Super Senior Pennant), Michael and Robyn Rolls (Mixed Pennant) and also the Managers of our 3 Encourage 

Shield Teams, Brett Cripps, Mark Sullivan and Jackie Parton. Thank you to all the caddies and supporters who went 

to those games. 

Our Pennant teams performed well again this year, with our Major Pennant side finishing just short of making it 

to the finals series. Our Junior Pennant team had a solid season and also missed out on the quarter finals by 1 

game. With a majority of the side remaining eligible for the 2011 season Cronulla will once again be in contention. 

Our Mixed Pennant team was competitive again and both our Masters and Super Senior sides advanced to the 

quarter finals. 

This winter the employment of a Course Marshal, Roger Woolcock, has proven very successful. It has enabled us 

to increase the field on Saturdays and Thursdays during the winter months. I would like to thank all those members 

who endeavour to keep play moving. 

Congratulations to all our Club Champions: A Grade - Rob Wood, A Reserve - Thomas Geraghty, B Grade - Lloyd 

Elphick and C Grade Leonard O’Riordan. The Veterans Trophy was won by Rob Wood, Foursomes Championship 

by Jye McFarlane & Dean Van Kampen and the Mixed Foursomes by Jillian Convoy & Ben Hodgson. 

We have 3 interclub challenges each year with Nowra , Shellcove Links and Woolooware Golf Clubs. Unfortunately 

we lost narrowly to Woolooware at Woolooware and also lost to Shellcove at Shellcove. The Nowra trip is 

scheduled for the 19th and 20th August in Nowra. Good luck to those players involved. 

The Match committee, after requests from various members have decided that the Foursomes Championship will 

be played over 2 weekends to encourage more members to participate in the event. 

The Club Championship this year is two qualifying rounds of stroke play after which match play will commence. 

This year the match play rounds will be played on Saturdays instead of Sundays to try and ease the amount of 

disruption to already very busy Sunday Mornings and also to try and encourage more interest within the club and 

its members. 

The Match committee are currently looking at revising the Singles knockout format. A suggestion to be considered 

is going back to the way it was played several years ago. 

Finally I would like to thank Colin and his staff in the Pro Shop, Steve Liversidge for volunteering to continue 

as handicapper (even though he has great pleasure in taking shots from us all), Greg and the course staff for 

continuing to present the course in such good condition in often difficult times, and finally to Jenny, Sue, Kylie and 

Kelly for making my job easier. 

Mark Whetters 

Captain 


Club Champion Robert Wood 

A Reserve Champion Thomas Geraghty 

B Grade Champion Lloyd Elphick 

C Grade Champion Leonard O’Riordan 

Junior Champion – Boy James Loy 

Junior Champion – Girl Sarah Houlahan 

Minor Champion Dean Inskip 

Veterans Champion Robert Wood 

MAJOR CLUB EVENTs 2010 

Foursome Champions Jye McFarlane and Dean van Kampen 

Mixed Foursomes Champions Jillian Convoy amd Ben Hodgson 

Singles Knockout Jon Gehrig 

Cock-of-the-walk Jody Watson and Stuart Lockey 

Founders Trophy Leonard O’Riordan 

Victory Cup Robert Aitken and Rick Hill 

Sandra Pratt and Evelynne Baird 

Naggers Cup Greg and Sandra Pratt 

Cronulla Cup – for A Grade Ray Shaw 

Monro Cup – for B and C Grades Brendan Piper 

Cronulla Open Dale Brandt-Richards (Mona Vale) 

Cronulla Seniors Open Robert Wood 

Gold Medal Greg Mawson 

A.B. Poulton Trophy Nick Silvestro and Ian Buxton 

Vicars Cup Stephen Livaja 

Father and Son Trophy Cliff and Martin Smith 

Robin Clark Medal Lloyd Elphick 

Ex-Serviceman’s Trophy William Coman 

John Dwyer Shield Woolooware 

Consistency Cup Mark Holman 

Brothers Trophy Darryl and Mark Sullivan 

Men 2010 hole-in-one 

Don Little Ian Sams 

Mark Sullivan Tony Bowring 

Steve Lamb Phillip Turnbull 

Bob Craig Bruce Sutherland 

Craig Burchmore Mal Harmer 

Brian Langhans John Roberts 

John Jackson Mike Daly 

Jack Keen Alan Alonco 

Don Allinson 

Geoff Bunker 

Ian Saint 


MEMBERsHIP REPORT 

Members have commented that we have increased our male membership numbers but in actual fact we have fewer 

members now than we did five years ago. The difference is that we now have more active members competing 

for times to play competition and social golf. This has increased our usual winter problems of members not being 

able to get a time on the sheet due to the shorter daylight hours. 

We have taken in 64 new members throughout the year who have filled vacancies in the Restricted Playing 

Category. 

The Membership committee and Board have also looked at a membership restructure this year. Members have had 

the opportunity through the recent survey to make comment on these changes which will be further investigated 

during the next few months. 

Set out below is the membership statistics at the close of the financial year. 

Policy 2010 2011 

Life Member 6 5 

Full Playing Member 700 700 700 

Playing Member 400 339 314 

Restricted Full Playing Member 330 330 326 

Restricted Playing Member 100 21 16 

Junior Member 100 89 60 

Transitional Intermediate Member 7 1 

Intermediate Playing Member 12 20 

Professional Member 6 2 2 

Country Member 45 29 33 

Deferred Playing Member 308 318 

Limited Playing Member 200 126 128 

Waiting Member 144 87 

Staff Member 2 2 

Clubhouse Voting Member 11 8 

Clubhouse Member 52 70 

Total Membership 2178 2090 

Finally, I would like to thank my fellow Membership Committee members for their assistance throughout the year 

and also our Captain and Handicapper for attendance at our new members introduction meetings. And finally our 

office staff who are always ready and willing with their help. 

Laurie D’Apice 

Chairman 


sOCIAL/HOUsE REPORT 

Our Friday night Happy Hour with MEMBER DRAW and meat/seafood raffles continues to keep the Club alive on 

Friday nights with many members calling in for a drink, chat and a meal. This success, coupled with the continuing 

patronage of the indoor bowlers has kept Phil busy with bookings. The recent alteration to commencing the draw 

at $500 has boosted the attendance of members. The 15th July $1000 draw night proved lucky for Terry Skillcorn. 

All members were thrilled for Terry, the coordinator of the indoor bowls, as he and Margaret have been attending 

Friday nights for as long as I can remember. Congratulations to you both! 

An added bonus for members has been the introduction of BAND NIGHTS on the last Friday of each month – a 

great chance to enjoy some good music – free of charge! The continuing success of this format is due to our 

member volunteers from the Board, Ladies’ Committee, Social Committee and members who assist with the 

raffles. General Manager Jenny, with her office and bar staff, is always at the ready when needed. 

With the installation of our PLATFORM LIFT, there is no excuse you can give as to why you are not down at the club 

enjoying our many facilities. We now have KENO, another reason to make Cronulla Golf Club your first choice – we 

also have the cheapest drinks in the Shire! 

The success of the STATE OF ORIGIN DECIDER was helped by the addition of our NEW SCREEN, which will make 

such sporting events all the more enjoyable. The end result aside, members and visitors enjoyed happy hour and 

BBQ to ready themselves for the task of cheering on the Blues. Many thanks to Suzanne Wilson, whose idea it was, 

and her many helpers on the night. Let’s hope for a Bluer result next year! 

CHRISTMAS IN JULY was a huge success with over 140 attending plus the band and their parents. Phil’s Christmas 

fare was enjoyed by all and a Scottish Santa spread chocolates and cheer to all – thanks Jock Hunter! The 

entertainment by Kirrawee High School Band thrilled our members once again. The band and vocalists were 

excited having so many people up dancing to their music. What a talented group of young people! 

HERMAN’S HERMITS are certain to thrill on 18th September – hope you have your table booked. Along with the 

Platters earlier in the year, members have certainly appreciated the chance to enjoy these world class entertainers 

for such a modest cover charge. 

TWILIGHT GOLF continues to be popular with members and we regularly fill at least one nine with players. Phil 

Maynard continues his tradition of sponsoring a $50 dinner voucher every Twilight. Don’t forget – if you are on 

the course playing Twilight golf – you are counted as being in the club if your name happens to come up on the 

member draw! 

MELBOURNE CUP DAY as always proved a great success. Sunday mixed events of Victory Cup, Naggers Cup and 

the Frog Match were very well patronised and allow for casual dining and entertainment after the games. 

MASTERS BREAKFAST and GOLF in April was very exciting with the Aussies in the mix right up to the end. The 

breakfast buffet was outstanding – but unfortunately the golf played by some of us did not live up to the standard 

set earlier in the day by the professionals. 

The successful running of these functions is due to the continuing efforts of many people. Our General Manager 

Jenny gives freely of her valuable time to ensure functions operate successfully. Her office staff, Sue, Kelly and 

Kylie, take responsibility for advertising, bookings and money collection. Bar Manager, Ged and his staff set up 

and decorate the club for the functions and Phil and staff excel with the catering. Thank you all for your ongoing 

commitment. 

I would especially like to thank House/Social Committee members Geoff Amos, Jackie Parton, Leon Bunker as 

well as invited members Robyn Rolls, Robyn Jones and Lois Longhurst for their continuing support, valuable input 

and assistance. 

In retrospect, we have had a very successful year – we hope you enjoyed it! 

Carole Goodyer 

Chairperson 


LADY MEMBERs’ REPORT 

LADIES COMMITTEE FOR 2011 

President: Lois Longhurst 

Vice-President: Robyn Jones 

Captain: Suzanne Wilson 

Vice-Captain: Jenni Thuge 

Hon. Secretary: Lynn Peaty 

Handicap Manager: Sheena Deane 

Committee: Robyn Sidney, Vanda Blizard, Jude Richardson 

Veteran’s Delegate: Rhondda Carroll 

It is with pleasure that I present the Annual Report for the year 2010 – 2011. Many thanks must go to the committee 

ladies for organising the successful running of our golfing and social events. 

Grade and Inter-Club Pennant Teams for 2011. 

We thank the following members: 

Grade: Jenni Thuge, Rosemary Deards, Jillian Convoy, Julie Greenberg, Kim Ranger, Jackie Parton, Leonie 

Johnstone, Susie Wiggins. 

Silver Inter-Club: Julie Greenberg, Jackie Parton, Susie Wiggins, Leonie Johnstone, Janelle Thomas. 

Bronze 1 Inter-Club: Lyndall Bamford, Merelyn Cull, Michelle Ball, Colleen Cusack, Marie Pierce, Kay Attwells, 

Sue Purnell, Barbara Coxon. 

Bronze 2 Inter-Club: June Gehrig, Anne Milne, Lynn Peaty, Kristen Weingott, Sharan Langhans, Kay Attwells, Sue 

Parsons, Mary Smith, Robyn Sidney. 

Bronze 3 Inter-Club: Sue Latham, Rhonda Ashley, Jenny Gray, Rhonda Goodwin, Di Garland, Julie Gailbraith, 

Heather Clarey, Wendy Williams, Carolyn Conlon, Judy Hatton. 

Sunday Ladies Inter-Club: Colleen Cusack, Cathy Axford, Pat Irwin, Bev Palmer, Kirsten Convoy, Becky Evans, 

Merelyn Cull. 


Results of major events for 2010/2011 

Club Champion 2010 Rosemary Deards 

Bronze 1 Champion 2010 Mim Kane 

Bronze 2 Champion 2010 Sandra Pratt 

C Grade Champion 2010 Maureen Gilles 

Foursomes Champions 2011 Donna Hayes, Janelle Thomas 

Foursomes Champions Bronze 1 2011 Virginia Powell, Bernadette Potter 

Foursomes Champions Bronze 2 2011 Evelyn Walsh, Pam Mackenzie 

Veteran’s Foursomes Nett Event 2011 Carol Baker, Chris Colburt 

Singles Knockout Champion 2011 Robyn Rolls 

Fourball Knockout Champion 2011 Susie Wiggins, Denise Thurston 

Club Gold Medal 2010 Sandy Hill 

WGNSW Gold Medal 2010 Suzanne Wilson 

WGNSW Silver Medal 2010 Muriel Wills 

WGNSW Bronze Medal 2010 Sandy Hill 

WGNSW Sunday Ladies Medal Div. 2 2010 Bev Palmer 

Kerrie Cripps Memorial Trophy 2011 Judy Rose 

Pam Amos Trophy 2011 Jenny Degnan 

Gretha Hargrave Day 2010 Maureen O’Shea 

Colin Arnold Trophy 2010 Sandra Pratt 

Dorothy Hancock Consistency Shield Div1 – Suzie Wilson, 

Div2 – Sandy Hill 

Endeavour Salver 2011 Jenni Thuge 

Endeavour Bowl 2011 Phyllis Black (Kogarah) 

Holes in One 

Appreciation 

2010/11 Julie Gailbraith, Joan Zimmerman, Lynne Moir 

On behalf of all our Lady Members we would like to thank all members, the entire staff of Cronulla Golf Club, the 

members of the Board and Colin Arnold and his Pro Shop Staff. Lastly on behalf of all lady members, I would like 

to thank the Ladies Committee for their hard work. 

Lois Longhurst 

Lady President 


OBITUARY 

Members: 

William Lawson 

Eric Macauley 

Bernie Toner 

Michael Wootton 

Henry Edwards 

Alick Moroney 

David Hirsch 

Reg Mawbey 

John Gorman 

John Frape 

Ladies: 

Linda Nickerson 


DIRECTORs REPORT 

Your directors present their report on the company for the financial year ended 30 June 2011. 

Directors 

The following directors have been in office for the entire financial year unless otherwise stated below and attended 

the recorded board meetings 

Name of Director Club Position Total number of 

Directors’ meetings 

attended 

Total number of 

Directors’ meetings 

Whilst in Office 

Terry Donaghy President 10 13 

Russell Dowd Vice President 13 13 

Peter Fowler (Appointed 22/09/10) Treasurer 8 10 

Mark Whetters Captain 11 13 

Geoffrey Bunker Vice Captain 7 13 

Geoffrey Amos Director 9 13 

Rosemary Deards Director 13 13 

Laurie D’Apice Director 9 13 

Carole Goodyer Director 12 13 

Jackie Parton Director 13 13 

Ian Saint (Appointed 22/09/10) Director 7 10 

Leon Bunker (Appointed 22/09/10) Director 7 10 

Peter Brinsley (Resigned 22/09/10) Director 3 3 

Kevin McEvoy (Resigned 22/09/10) Director 3 3 

Stephen Liversidge (Resigned 22/09/10) Director 3 3 

Information on Directors 

Terry Donaghy President of Cronulla Golf Club currently and since 2003. Club member since 1985. Chairman 

of Executive committee. Qualified professional engineer with Bachelor of Engineering and 

Master Engineering Science degrees. Over 25 years experience as an Executive Manager with 

a large international corporation. 

Russell Dowd Vice President of Cronulla Golf Club currently and since 2002. Member of the Board of Directors 

since 2000. Chairman of Greens committee for 8 years, member of Executive for 8 years and 

chairman of Masterplan committee. Club member since 1992. Retired engineer. 

Peter Fowler 

(Appointed 

22/09/10) 

Current Treasurer of Cronulla Golf Club. Director and Treasurer from 1989 to 1992 and from 

2004 to 2009, Member of Executive. Served on Constitution committee. Club member since 

1976. Career in accounting, financial management and corporate secretarial, FCPA & FCIS, 

now retired. 

Mark Whetters Current Captain of Cronulla Golf Club. Director and Vice Captain 2010, Director 2008 to 2011. 

Member of Executive. Served on Greens, Masterplan and Match committees. Club member 

since 1994. Manager of Cronulla Golf Club’s major pennant side 5 years and manager of Eric 

Apperley side 2 years. Has worked as a builder in the Sutherland Shire for past 30 years. 

Geoffrey Bunker Current Vice Captain of Cronulla Golf Club. Member of Executive. Director for 2 years. Served 

on Greens and Match committees and currently Chairman of Junior Development committee. 

Member since 1995. Represented Cronulla Golf Club in junior pennants, Eric Apperley, major 

pennants and mixed pennants. Employed as a carpenter/supervisor by a local builder. 

Geoffrey Amos Director since 2002. Served on Greens, Match, Masterplan, Constitution and House committees, 

chairman of Membership and on Executive. Club member since 1992. Holds post graduate 

Masters degree in Transport Management. Retired senior executive with extensive experience 

in operations, financial and project management and budget control. Retired board member 

of Railcorp NSW. 


DIRECTORs REPORT (CONT’D) 

Rosemary Deards Director since 2006. Served on Greens, Masterplan and Membership Committees. Club 

member since 1985. Represented Cronulla Golf Club in grade pennant. Retired primary school 

assistant principal. Newsagency owner/manager for 13 years. 

Laurie D’Apice Director and Club Captain 1998 to 2003. Director 2006 until present. Served on Match, 

Membership and Junior Development committees, currently chairman of Membership 

committee. Club member since 1991. President of Human Resources for Linfox Asia Pacific. 

Carole Goodyer Director for 3 years, lady president for 6 years, lady vice president 2 years. Served on Greens 

and Membership committees and currently chairperson of House/Social committee. Club 

member since 1990. Retired school teacher. 

Jackie Parton Director for 3 years. Served on Greens, Match, House and Junior Development committees. 

Chairperson of Junior Development for 2 years. Club member since 2001. Lady captain 2 years. 

Company director and retail assistant. 

Ian Saint 

(Appointed 

22/9/10) 

Leon Bunker 

(Appointed 

22/9/10) 

Peter Brinsley 

(Resigned 

22/9/10) 

Kevin McEvoy 

(Resigned 

22/9/10) 

Stephen 

Liversidge 

(Resigned 

22/9/10) 

Current Director, appointed 2010 and previous Captain of Cronulla Golf Club and Director 

for 4.5 years. Served on Match and Membership committees. Manager of major pennant, Eric 

Apperley and junior pennant teams for over 10 years. Club member since 1982. Retired Human 

Resources Executive. 

Current Director, appointed 2010 and previous Director for 6 years. Served on Match, Greens 

and House committees. Manager of junior pennant team for 3 years and Encourage Shield 

team for 3 years. Club member since 1979. Executive of Sutherland Shire Cricket Association 

for 22 years, 9 years as President, life member of SSCA. Proprietor, Director/Secretary of a firm 

of Law Stations. Was licensed conveyance for 8 years. 

Retired 2010 after 6 years as Club Captain and 7 years as Director. Served on Match, Greens, 

Masterplan, Constitution and Executive committees. Club member since 1977. Senior 

management public service, corporate governance experience, now retired. State level golf 

rules/course rating official. Negotiated $300,000 government grant for CGC irrigation works. 

Treasurer 2009/10 and previously 1993-1995. Served on Executive. Member since 1966. Public 

Accountant CPA with 50 years experience including chief financial officer of public listed 

companies and company director. B comm. (NSW), FCPA, FCIS, FTIA. 

Director 2007-2010. Served on Membership, Junior Development and Match committees. 

Currently holds position of handicapper but retired as Director in 2010. Member since 1986. 

Retired senior police officer holding managerial positions over 32 years. Graduate certificate in 

management UOW. Previously held committee positions with local sporting clubs. 

Members’ limited liability 

In accordance with the constitution of the company the liability of the members of the Club is limited. In the event 

of the Club being wound up during the time that a person is a member, or within one year thereafter, each member 

undertakes to contribute to payment of the debts and liabilities, a sum not exceeding $6.60. 

Operating Results 

The loss of the company for the financial year after providing for income tax amounted to $1,704,801 after write 

off this year of major course works. 

Objectives 

The objectives for which the company is established are to provide the best quality golfing conditions possible 

with the resources available, to provide those conditions at an economical cost which is in the interests of all 

members and to provide a harmonious and comfortable environment both on the course and in the clubhouse 

which all members are able to enjoy. 

Short Term 

Maintain membership numbers and improve members’ experience both on the golf course and in the clubhouse. 

Maintain financial stability of the club and work towards increasing and diversifying revenue streams. Increase 

efficiency of energy consumption. 


Long Term 

Complete course masterplan. Maintain and update facilities and continue to ensure members’ golfing and social 

needs are met. Maintain financial stability. Move to more efficient use of resources and reduction strategies for 

energy, water and waste to reduce environmental impact. 

Strategies for achieving objectives 

• Reassess membership categories to give members more options whilst maintaining revenue from 

subscriptions. 

• Continue to investigate alternatives for producing income from non-traditional sources. 

• Install systems to reduce energy consumption and commence investigations of sustainability programmes. 

• Research on members’ preferences for facilities and services. 

• As funds become available, continue course renovations whilst maintaining members’ enjoyment of the golf 

course. 

Principal Activities 

The principal activities of the company during the course of the financial year consisted of the provision of golfing, 

recreation and social facilities and activities to members. 

There were no significant changes in the nature of the activities of the company during the year. 

How these activities assist in achieving the objectives 

The principal activities of the company contributed to achieving the objectives by providing stable operations and 

funds generation from operations to meet the demands of the company and maintain a high level of service and 

quality golfing enjoyment to members. 

Performance measurement and key performance indicators 

The financial performance of the club is measured against the budget set, previous year’s performance and 

industry data. Some of the criteria reported on are: 

• Gross Profit margins, Cash flow, Income and expense analysis. 

• Non financial performance is assessed by a variety of measures including: 

Members’ feedback, Staff turnover, Industry comparisons, Golf course condition. 

Auditor’s Independence Declaration 

A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is 

set out on page 20. 

Signed in accordance with a resolution of the Board of Directors: 

Director: _______________________________________________________ 

Terry Donaghy 

Director: _______________________________________________________ 

Dated this 3rd day of August 2011 

Peter Fowler 


AUDITOR’s INDEPENDENCE DECLARATION 

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2011 there have been: 

(i) no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to 

the audit; and 

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

DMC Assurance Services Pty Limited 

________________________________________________ 

Jason Maher 

Taren Point 

Dated this 5th day of August 2011 


sTATEMENT OF COMPREHENsIVE INCOME 

FOR THE YEAR ENDED 30 JUNE 2011 

2011 2010 

Note $ $ 

Revenue 2 3,464,916 3,752,590 

Cost of Sales 4 (248,383) (237,449) 

Auditor’s remuneration 3 (18,500) (17,700) 

Depreciation and amortisation expenses 4 (237,251) (262,694) 

Employee benefits expenses (1,263,878) (1,271,198) 

Other expenses (3,401,705) (1,329,041) 

(Loss) Profit before income tax 4 (1,704,801) 634,508 

Income tax expense – – 

(Loss) Profit after income tax (1,704,801) 634,508 


sTATEMENT OF FINANCIAL POsITION 

As AT 30 JUNE 2011 

22 | CRONULLA GOLF CLUB LIMITED ABN 41 000 059 478 


Note $ $ 

ASSETS 

CURRENT ASSETS 

Cash and cash equivalents 5 649,726 221,043 

Trade and other receivables 6 13,156 9,889 

Inventories 7 24,092 14,791 

Other current assets 8 45,753 24,199 

TOTAL CURRENT ASSETS 732,727 269,922 

NON-CURRENT ASSETS 

Property, plant and equipment 9 4,292,397 6,176,187 

TOTAL NON-CURRENT ASSETS 4,292,397 6,176,187 

TOTAL ASSETS 5,025,124 6,446,109 

LIABILITIES 

CURRENT LIABILITIES 

Trade and other payables 10 257,853 236,770 

Financial liabilities 11 62,633 29,601 

Provisions 12 243,681 211,456 

Other current liabilities 13 1,019,996 943,842 

TOTAL CURRENT LIABILITIES 1,584,163 1,421,669 

NON-CURRENT LIABILITIES 

Financial liabilities 11 127,927 6,605 

TOTAL NON-CURRENT LIABILITIES 127,927 6,605 

TOTAL LIABILITIES 1,712,090 1,428,274 

NET ASSETS 3,313,034 5,017,835 

EQUITY 

Retained earnings 14 3,313,034 5,017,835 

TOTAL EQUITY 3,313,034 5,017,835

sTATEMENT OF CHANGEs IN EqUITY 


Note Retained Earnings Total 

$ $ 

Balance at 1 July 2009 4,383,327 4,383,327 

Profit (Loss) attributable to members 634,508 634,508 

Balance at 30 June 2010 5,017,835 5,017,835 

Profit (Loss) attributable to members (1,704,801) (1,704,801) 

Balance at 30 June 2011 3,313,034 3,313,034 


sTATEMENT OF CAsH FLOws 




$ $ 

CASH FLOWS FROM OPERATING ACTIVITIES 

Receipts from customers 3,571,221 3,806,678 

Payments to suppliers and employees (2,877,532) (2,799,035) 

Interest received 20,430 16,182 

Net cash provided by operating activities 714,119 1,023,825 

CASH FLOWS FROM INVESTING ACTIVITIES 

Proceeds from sale of property, plant and equipment – 8,182 

Payments for property, plant and equipment (424,782) (1,334,604) 

Net cash used in investing activities (424,782) (1,326,422) 

CASH FLOWS FROM FINANCING ACTIVITIES 

Repayment of borrowings (72,774) (28,425) 

Proceeds from Borrowings 212,120 – 

Net cash provided by (used in) financing activities 139,346 (28,425) 

Net increase (decrease) in cash held 428,683 (331,022) 

Cash at beginning of financial year 221,043 552,065 

Cash at end of financial year 649,726 221,043

1 Statement of Significant Accounting Policies 

NOTEs TO THE FINANCIAL sTATEMENTs 


The financial statements cover Cronulla Golf Club Limited as an individual entity. Cronulla Golf Club Limited is a 

company limited by guarantee, incorporated and domiciled in Australia. 

Basis of Preparation 

These general purpose financial statements have been prepared in accordance with Australian Accounting 

Standards – Reduced Disclosure Requirements, other authoritative pronouncements of the Australian Accounting 

Standards Board, Australian Accounting Interpretations and the Corporations Act 2001. 

In preparing the financial report the company has taken the exemptions available to non profit entities. 

Compliance with Australian Accounting Standards – Reduced Disclosure Requirements 

The financial statements of the Cronulla Golf Club Limited comply with Australian Accounting Standards – 

Reduced Disclosure Requirements as issued by the Australian Accounting Standards Board (AASB). 

Historical Cost Convention 

The financial statements have been prepared on an accruals basis and are based on historical costs, modified, 

where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial 

liabilities. 

Comparative Figures 

When required by Accounting Standards, comparative figures have been adjusted to conform to changes in 

presentation for the current financial year. 

Inventories 

Inventories are measured at the lower of cost and net realisable value. Costs are assigned on a first-in first-out 

basis. 

Property, Plant and Equipment 

Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated 

depreciation. 

Property 

The carrying amount of property is reviewed annually by directors to ensure it is not in excess of the recoverable 

amount from those assets. The recoverable amount is assessed on the basis of expected net cash flows which will 

be received from the assets employment and subsequent disposal. 

In accordance with AASB 116, land and buildings of the club have been valued at cost. 

Change in accounting policy 

In previous years, expenditure incurred by the club in relation to the course masterplan upgrade which commenced 

in 2008 was capitalised and amortised over 20 years in 2008 & 2009, and changed to 50 years in 2010. 

As the masterplan upgrade has now been completed, the current board have decided to write off the unamortised 

balance of the work (amounting to $2,022,191) in the current (2011) financial year. 

Under accounting standard AASB 116 either the capitalisation and amortisation of the masterplan upgrade over 

its useful life (as adopted by the previous board) or the immediate write off of the expenditure is allowable. The 

current board believe that the immediate write off of the expenditure is more relevant in relation to the golf club. 

Plant and Equipment 

Plant and equipment is measured on the cost basis. 

The carrying amount of plant and equipment is reviewed annually by the directors to ensure it is not in excess of 

the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net 

cash flows which will be received from the assets’ employment and subsequent disposal. The expected net cash 

flows have not been discounted to present values in determining the recoverable amount. 


NOTEs TO THE FINANCIAL sTATEMENTs (CONT’D) 


Depreciation 

The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding 

freehold land and course masterplan are depreciated over their estimated useful lives to the economic company 

commencing from the time the asset is held ready for use. Properties held for investment purposes are not subject 

to a depreciation charge. Leasehold improvements are depreciated over the shorter of either the unexpired 

period of the lease or the estimated useful lives of the improvements. 

The depreciation rates used for each class of depreciable asset are: 

Class of Fixed Asset Depreciation Rate 

Buildings, Improvements & Irrigation 2.0-20.0% 

Plant & Equipment 2.5-33.3% 

The useful life for each class of depreciable asset are: 

Class of Fixed Asset Useful Life 

Buildings, Improvements & Irrigation 5-50 Years 

Plant & Equipment 3-40 Years 

Impairment of Assets 

At each reporting date, the club reviews the carrying amounts of its tangible 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 assets carrying 

value. Any excess of the assets carrying value over its recoverable amount is expensed to the income statement. 

Leases 

Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset (but 

not the legal ownership) are transferred to the company, are classified as finance leases. 

Finance leases are capitalised 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 the shorter of their estimated useful lives or the lease term. 

Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are 

charged as expenses in the periods in which they are incurred. 

Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over 

the life of the lease term. 

Employee Benefits 

Provision is made for the company’s liability for employee benefits arising from services rendered by employees 

to balance date. Employee benefits that are expected to be settled within one year have been measured at the 

amounts expected to be paid when the liability is settled. Employee benefits payable later than one year have 

been measured at the present value of the estimated future cash outflows to be made for those benefits. 

Contributions are made by the company to an employee superannuation fund and are charged as expenses when 

incurred. 

Provisions 

Provisions are recognised when the company has a legal or constructive obligation, as a result of past events, for 

which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured. 

Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of 

the reporting period. 

Cash and Cash Equivalents 

Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid 

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within 

short-term borrowings in current liabilities on the statement of financial position. 


Revenue 

Revenue from the sale of goods is recognised upon the delivery of goods to customers. 

Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the 

financial assets. 

All revenue is stated net of the amount of goods and services tax (GST). 

Goods and Services Tax (GST) 

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST 

incurred is not recoverable from the Australian Tax Office. In these circumstances, the GST is recognised as part of 

the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the Balance 

Sheet are shown inclusive of GST. 

Trade and Other Payables 

Trade and other payables represent the liability outstanding at the end of the reporting period for goods and 

services received by the company during the reporting period, which remain unpaid. The balance is recognised as 

a current liability with the amounts normally paid within 30 days of recognition of liability. 

New Accounting Standards and Interpretations 

Adoption of New Accounting Standards 

Early Adoption of Standards 

The entity has elected to apply the following pronouncements to the annual reporting period beginning 1 July 

2010: 

– AASB 1053 Application of Tiers of Australian Accounting Standards and AASB 2010-2 Amendments to Australian 

Accounting Standards arising from Reduced Disclosure Requirements. 

The early adoption of AASB 1053 enables the entity to be part of the Tier 2 reporting requirements for general 

purpose financial statements. The Tier 2 reporting framework comprises the recognition and measurement 

requirements of Tier 1 but substantially reduced disclosure requirements. The entity is eligible to adopt the new 

Australian Accounting Standards – Reduced Disclosure Requirements and has adopted the requirements of the 

standard effective from the financial year ended 30 June 2011. 


$ $ 

2 Revenue 

Operating activities 

Golf Operations 397,177 396,898 

Sales & Gaming Revenue 701,794 671,320 

Members Subscriptions and Entrance Fees 2,025,972 1,975,555 

Interest Received 20,430 16,182 

Government Grants – 49,869 

Other revenue 319,543 642,766 

Total revenue 3,464,916 3,752,590 

3 Auditor’s Remuneration 

Audit & Review of Financial Reports 9,000 8,500 

Other Services 9,500 9,200 

18,500 17,700 




4 Profit 



$ $ 

Expenses 

Cost of sales 248,383 237,449 

Depreciation – Bar 2,749 3,171 

Depreciation – Poker Machines 6,986 8,547 

Depreciation – Admin & General 13,629 12,961 

Depreciation – Catering 2,525 1,520 

Amortisation – Course Improvements 35,581 60,872 

Depreciation – Course 131,618 127,934 

Depreciation – House 44,163 47,689 

Depreciation of property, plant and equipment 237,251 262,694 

Revenues and Net Gains 

Net Loss on disposal of plant and equipment 49,130 (607) 

5 Cash and Cash Equivalents 

Current 

Cash on Hand 14,000 14,000 

Cash on Deposit 500 166 

Cash at Bank 635,226 206,877 

649,726 221,043 

6 Trade and Other Receivables 

Current 

Trade Debtors 13,156 9,889 

The company does not hold any financial assets whose terms have been 

renegotiated, but which would otherwise be past due or impaired. 

7 Inventories 

Current 

At cost: 

Stock on Hand – Bar Supplies 24,092 14,791 

8 Other Current Assets 

Current 

Prepayments 45,753 24,199

9 Property, Plant and Equipment 


$ $ 

Land and Buildings 

Freehold Land, Course Extensions and Car Park – at Cost 604,984 604,984 

Course Improvements & Fencing – at Cost 202,938 202,938 

Course Masterplan & Irrigation Works – at Cost 1,120,774 3,092,856 

1,323,712 3,295,794 

Less: Accumulated Depreciation (125,357) (154,243) 

1,198,355 3,141,551 

Clubhouse Building – at Cost 1,192,893 1,192,893 


794,200 814,326 

Course Maintenance Facility – at Cost 993,011 993,011 


893,859 916,511 

Total Land and Buildings 3,491,398 5,477,372 

Plant & Equipment – at Cost 2,329,255 2,214,087 

Less: Accumulated Depreciation (1,528,256) (1,515,272) 

800,999 698,815 

Total Plant and Equipment 800,999 698,815 

Total Property, Plant and Equipment 4,292,397 6,176,187 

Movements in Carrying Amounts 

Movements in carrying amount for each 

class of property, plant and equipment 

between the beginning and the end of 

the current financial year 

Balance at Additions Disposals/ Depreciation Carrying 

beginning of year Reclass. amount at the 

end of the year 

$ $ $ $ $ 

Freehold Land 604,984 - - - 604,984 

Course Improvements 3,141,551 114,576 (2,022,192) (35,572) 1,198,363 

Buildings 1,730,829 - - (42,778) 1,688,051 

Plant & Equipment 698,824 310,206 (49,130) (158,901) 800,999 

Total 6,176,188 424,782 (2,071,322) (237,251) 4,292,397 




10 Trade and Other Payables 



$ $ 

Current 

Trade Creditors and Accruals 257,853 236,770 

11 Borrowings 

Current 

Hire Purchase Liability 75,764 31,488 

Less: Unexpired Hire Purchase Liability (13,131) (1,887) 

Total current borrowings 62,633 29,601 

Non-Current 

Hire Purchase Liability 139,404 6,953 

Less Unexpired Hire Purchase Liability (11,477) (348) 

Total non-current borrowings 127,927 6,605 

Total borrowings 190,560 36,206 

12 Provisions 

Provision for Holiday Pay 142,691 124,842 

Provision for Long Service Leave 100,990 86,614 

243,681 211,456 

Total provisions 243,681 211,456 

Analysis of Total Provisions 

Current 243,681 211,456 

243,681 211,456 

13 Other Liabilities 

Current 

Income in Advance 1,019,996 943,842 

14 Retained Earnings 

Retained earnings at the beginning of the financial year 5,017,835 4,383,327 

(Net loss) Net profit attributable to members of the company (1,704,801) 634,508 

Retained earnings at the end of the financial year 3,313,034 5,017,835

15 Capital Hire Purchase (HP) and Leasing Commitments 


$ $ 

Finance HP/Lease Commitments 

Payable: 

Not later than one year 75,764 31,488 

Later than one year but not later than two years 61,957 6,953 

Later than two years but not later than five years 77,447 – 

Minimum lease payments 215,168 38,441 

Less future finance charges (24,608) (2,235) 

Total HP/lease liability 190,560 36,206 

Capital Expenditure Commitments 

Contracted for: 

Installation of internal lift 59,750 – 

16 Key Management Personnel 

Remuneration of Directors and Key Management 

Short-term employee benefits 

Salaries 214,101 177,397 

Post-employment benefits 

Superannuation 19,249 54,132 

Total compensation 233,350 231,529 

17 Related Party Transactions 

The company considers there were no related party transactions during the year. 

18 Cash Flow Information 

a) Reconciliation of cash 

Cash at the end of the financial year as shown in the 

statement of cash flows is reconciled to the related 

items in the balance sheet as follows: 

Cash on Hand 14,000 14,000 

Cash on Deposit 500 166 

Cash at Bank 635,226 206,877 

649,726 221,043 






$ $ 

b) Reconciliation of Cashflow from Operations with profit after Income Tax 

Operating profit (loss) after income tax (1,704,801) 634,508 

Non-cash flows in profit: 

Loss on sale of non-current assets 49,130 827 

Depreciation 237,251 262,301 

Charges to provisions 32,225 23,682 

Financing flows in operating profits 15,008 4,661 

Change in accounting policy 2,022,191 – 

Changes in assets and liabilities, net of the effects of purchase 

and disposals of subsidiaries 

(Increase) Decrease in current inventories (9,301) 2,282 

(Increase) Decrease in current receivables (3,267) (4,974) 

(Increase) Decrease in prepayments (21,554) 20,934 

Increase (Decrease) in trade creditors 21,083 42,089 

Increase (Decrease) in other creditors – 15,555 

Increase (Decrease) in income in advance 76,154 21,960 

714,119 1,023,825 

19 Company Details 

The registered office of the company is: 


Elouera Road, Cronulla 

The principal place of business is: 



The principal activities of the company are Development and Encouragement of the Game of Golf. 

20 Disclosure Requirements under Section 41J of the Registered Clubs Act 

Core and Non Core Property 

Section 41J of the Act defines core property as meaning any real property owned or occupied by the Club that 

comprises:- 

(a) the defined premises of the club, or 

(b) any facility provided by the club for use of its members and their guests’ or 

(c) any other property declared, by resolution passed by a majority of the members present at a general 

meeting of the ordinary members of the club, not to be core property of the Club. 

Non-core property is defined as meaning any real property owned or occupied by the Club that is not core 

property. 

The Directors consider the Club’s defined premises of Cronulla Golf Club Limited to be core Property. 

The Directors consider the club has no non-core property.

DIRECTORs’ DECLARATIOIN 

The directors of the company declare that: 

1. The financial statements and notes, as set out on pages 1 to 22, are in accordance with the Corporations Act 

2001: 

(a) comply with Accounting Standards and the Corporations Regulations 2001; and 

(b) give a true and fair view of the financial position as at 30 June 2011 and of its performance as represented 

by the results of its operations and its cash flows for the year ended on that date of the company. 

2. In the directors’ opinion there are reasonable grounds to believe that the company 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 Board of Directors. 

Director: _______________________________________________________ 

Terry Donaghy 

Director: _______________________________________________________ 

Dated this 3rd day of August 2011 

Peter Fowler 


INDEPENDENT AUDITOR’s REPORT 

Report on the Financial Report 

I have audited the accompanying financial report of Cronulla Golf Club Limited which comprises the statement of 

financial position as at 30 June 2011 and the statement of comprehensive income, statement of changes in equity 

and statement of cash flows for the year ended on that date, a summary of significant accounting policies, other 

explanatory notes and the directors’ declaration. 

Directors’ Responsibility for the Financial Report 

The directors of the company are responsible for the preparation and fair presentation of the financial report 

in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations 

Act 2001. This responsibility includes designing, implementing and maintaining internal control relevant to the 

preparation and fair presentation of the financial report that is free from material misstatement, whether due to 

fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are 

reasonable in the circumstances. 

Auditor’s Responsibility 

My responsibility is to express an opinion on the financial report based on my audit. I conducted my audit in 

accordance with Australian Auditing Standards. These Auditing Standards require that I comply with relevant 

ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable 

assurance whether the financial report is free from material misstatement. 

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the 

financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks 

of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, 

the auditor considers internal control relevant to the entity’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 entity’s internal control. An audit also includes evaluating 

the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the 

directors, as well as evaluating the overall presentation of the financial report. 

I believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit 

opinion. 

Independence 

In conducting my audit, I have complied with the independence requirements of the Corporations Act 2001. I 

confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of 

Cronulla Golf Club Limited on 5th August 2011, would be in the same terms if provided to the directors as at the 

date of this auditor’s report. 

Auditor’s Opinion 

In my opinion: 

(a) the financial report of Cronulla Golf Club Limited is in accordance with the Corporations Act 2001, including: 

(i) giving a true and fair view of the company’s financial position as at 30 June 2011 and of its performance for 

the year ended on that date; and 

(ii) complying with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations 

Regulations 2001. 

DMC Assurance Services Pty Limited 

________________________________________________ 

Jason Maher 

Taren Point 



Auditor’s Disclaimer to the Members 

For the year ended 30 June 2011 

The additional data presented in the Profit & Loss Statement and Trading accounts is in accordance with the books 

and records of the Cronulla Golf Club Limited (our client) which have been subjected to the auditing procedures 

applied in the statutory audit of the company for the year ended 30 June 2011. It will be appreciated that the 

statutory audit did not cover all details of the financial data and no warranty of accuracy or reliability is given. 

Neither the firm nor any member or employee of the firm undertakes responsibility in any way whatsoever to any 

person (other than our client) in respect of such data, including any errors or omissions therein however caused. 

Name of Firm: DMC Assurance Services Pty Limited 

Chartered Accountants 

Name of Principal: ________________________________________________ 

Jason Maher 

Address: Taren Point 



PROFIT AND LOss sTATEMENT 




$ $ 

INCOME 

Membership 1,970,119 1,919,064 

Bar Trading Account 145,813 143,476 

Poker Machine Trading Account 49,966 35,506 

Golf Operations 114,384 111,178 

2,280,282 2,209,224 

OTHER INCOME 

Interest Received 20,430 16,182 

Sponsorship 27,732 18,765 

Sundries 12,963 2,476 

Surplus house accounts 38,912 38,727 

100,037 76,150 

2,380,319 2,285,374 

EXPENSES 

Administration and General Expenses 524,708 545,340 

Catering Facility 14,469 15,230 

Course Expenses 1,440,789 1,486,191 

House Expenses 269,376 223,441 

Interest Paid 6,121 10,149 

Loss on sale(disposal)of assets 49,130 (607) 

Social Functions & Entertainment (1,728) 3,789 

2,302,865 2,283,533 

Profit from ordinary activities 77,454 1,841 

Entrance Fees 237,209 438,342 

Government Grants - 49,869 

Levies 2,727 144,456 

Course Improvements (change in accounting policy write off) (2,022,191) - 

(Loss) Profit from ordinary activities before income tax (1,704,801) 634,508

DEPARTMENTAL TRADING, PROFIT AND LOss sTATEMENT 



$ $ 

MEMBERSHIP 

Subscriptions 2,025,972 1,975,555 

Less: Direct Costs 

Affiliation Fees Members (NSWGU) 44,234 43,962 

Affiliation Fees Associates (LGU) 11,619 12,529 

55,853 56,491 

Net Profit from Trading 1,970,119 1,919,064 

BAR TRADING ACCOUNT 

Bar Sales 591,970 569,499 

Less: Cost of Goods Sold 

Opening Stock 14,791 17,073 

Purchases 257,684 235,167 

Closing Stock (24,092) (14,791) 

248,383 237,449 

Gross Profit from Trading 343,587 332,050 


Cleaning 2,173 1,290 

Depreciation – Bar 2,749 3,171 

Gas 1,903 2,028 

Glassware 926 1,226 

Members draw - 1,000 

Maintenance & Repairs 4,474 4,773 

Raffles - (3,387) 

Purchases – Other 11,802 17,131 

Staff Costs 168,446 155,539 

Stocktake 4,560 4,560 

Sundries 741 1,243 

197,774 188,574 

Net Profit from Trading 145,813 143,476 


DEPARTMENTAL TRADING, PROFIT AND LOss sTATEMENT 




$ $ 

POKER MACHINE TRADING ACCOUNT 

Receipts 159,210 121,953 

Payouts (104,150) (80,171) 

GST Rebate 4,725 4,891 

59,785 46,673 


Depreciation – Poker Machines 6,986 8,547 

Repairs & Maintenance 2,833 2,620 

9,819 11,167 

Net Profit from Trading 49,966 35,506 

GOLF OPERATIONS 

Competition Fees 332,584 331,680 

Green Fees 59,023 59,640 

Locker Rents 5,570 5,578 

397,177 396,898 


Competition Costs 48,976 50,808 

Golf Ball Damage 11,323 15,550 

Printing / I.T. / Website 28,765 57,008 

Prof. Green Fee Commission 3,435 3,498 

Professional Retainer 58,811 56,782 

Score Cards 4,704 2,730 

Trophies 77,600 49,361 

Fixture Books 11,416 11,040 

Insurances Members 8,342 11,375 

Insurances Public Liability 4,944 7,781 

Membership Cards 22,457 18,210 

Ladies & Vets 2,020 1,577 

282,793 285,720 

Net Profit from Trading 114,384 111,178

ExPENsEs BREAkDOwN 



$ $ 

ADMINISTRATION AND GENERAL EXPENSES 

Audit & Review of Financial Reports 9,000 8,500 

Other Services 9,500 9,200 

Bank Charges etc 16,455 24,484 

Depreciation – Admin & General 13,629 12,961 

Insurances 28,845 22,697 

Insurance – Workers Comp 35,344 33,347 

Legal Expenses 15,098 16,410 

Newsletter 18,086 18,318 

Payroll Tax 23,887 27,623 

Postage 3,139 6,653 

Printing & Stationery 8,438 16,104 

R & M Office Equipment 6,548 3,662 

Software 24,904 21,205 

Staff Costs 270,085 284,020 

Subscriptions – Trade 2,608 6,092 

Members meetings 6,399 6,584 

Board Expenses 7,232 7,700 

Sundries 9,863 5,254 

Telephones & Internet 15,648 14,526 

524,708 545,340 

COURSE EXPENSES 

Cleaning Materials 22,297 20,801 

Consultants’ Fees 16,699 17,471 

Council Rates 20,640 19,905 

Course Maintenance 229,600 234,499 

Amortisation – Course Improvements 35,581 60,872 

Depreciation – Course 131,618 127,934 

Electricity 23,935 19,090 

Gas 952 973 

HP Charges 15,010 4,661 

Petrol & Distillate 35,659 31,125 

Plant Maintenance 66,026 82,353 

Staff Costs 742,649 747,234 

Sundries 8,601 11,847 

Water Rates – Course 91,522 107,426 

1,440,789 1,486,191 


ExPENsEs BREAkDOwN (CONT’D) 




$ $ 

HOUSE EXPENSES 

Cleaning 46,655 46,112 

Consultants Fees 29,975 855 

Depreciation – House 44,163 47,689 

Electricity 36,030 32,226 

Garbage Removal 7,976 6,438 

Gas 4,255 4,234 

Hire 16,876 16,385 

Honour Boards – 1,410 

Laundry 12,061 11,710 

Pest Control 1,419 1,719 

Repairs & Maintenance 36,070 29,864 

Security 3,900 639 

Sundries 19,471 12,105 

Water Rates 10,525 12,055 

269,376 223,441

Photos by Keith Thompson

Cronulla Golf Club limited 


Telephone 9523 6777 Professional Shop 9523 9626 

info@cronullagolf.com.au www.cronullagolf.com.au

2011 Annual Report - Cronulla Golf Club

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