2011 REPORT ANNUAL - Racing NSW
2011 REPORT ANNUAL - Racing NSW
2011 REPORT ANNUAL - Racing NSW
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RACING <strong>NSW</strong> COUNTRY LTD<br />
ACN 075 186 873<br />
NOTES TO AND FORMING PART OF THE FINANCIAL<br />
STATEMENTS FOR THE YEAR ENDED 30TH JUNE, <strong>2011</strong><br />
<strong>2011</strong><br />
$<br />
2010<br />
$<br />
NOTE 5: REVENUE<br />
Revenue from Continuing Operations<br />
<strong>NSW</strong> <strong>Racing</strong> distributions pursuant to <strong>Racing</strong> Distribution Agreement 39,176,794 40,311,204<br />
Television Broadcast Royalty 2,765,831 2,672,300<br />
Administration Charge Funding 1,065,000 1,065,000<br />
Sponsorship 1,108,718 1,071,225<br />
Interest 83,717 107,239<br />
Distribution from <strong>Racing</strong> <strong>NSW</strong> 10,737,000 5,029,816<br />
<strong>Racing</strong> Revenues 361,199 398,768<br />
Total Revenue from Continuing Operations 55,298,259 50,655,552<br />
<strong>2011</strong><br />
$<br />
2010<br />
$<br />
NOTE 6: EXPENSES<br />
Profit/(loss) before income tax includes the following specific expenses:<br />
a) Expenses<br />
Depreciation of non-current assets<br />
- plant and equipment<br />
19,239 19,239<br />
- motor vehicles<br />
3,698 7,942<br />
Total Depreciation 22,937 27,181<br />
Employee benefits expense 605,060 489,430<br />
<strong>2011</strong><br />
$<br />
NOTE 7: AUDITORS REMUNERATION<br />
During the year the following fees were paid or payable for services provided by the auditor of the company.<br />
Assurance Services<br />
- Audit of financial statements under the Corporations Act 2001 26,000 26,000<br />
Total auditors remuneration 26,000 26,000<br />
2010<br />
$<br />
30
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