2011 REPORT ANNUAL - Racing NSW

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RACING NSW COUNTRY LTD ACN 075 186 873 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2011 2011 $ 2010 $ NOTE 5: REVENUE Revenue from Continuing Operations NSW Racing distributions pursuant to Racing Distribution Agreement 39,176,794 40,311,204 Television Broadcast Royalty 2,765,831 2,672,300 Administration Charge Funding 1,065,000 1,065,000 Sponsorship 1,108,718 1,071,225 Interest 83,717 107,239 Distribution from Racing NSW 10,737,000 5,029,816 Racing Revenues 361,199 398,768 Total Revenue from Continuing Operations 55,298,259 50,655,552 2011 $ 2010 $ NOTE 6: EXPENSES Profit/(loss) before income tax includes the following specific expenses: a) Expenses Depreciation of non-current assets - plant and equipment 19,239 19,239 - motor vehicles 3,698 7,942 Total Depreciation 22,937 27,181 Employee benefits expense 605,060 489,430 2011 $ NOTE 7: AUDITORS REMUNERATION During the year the following fees were paid or payable for services provided by the auditor of the company. Assurance Services - Audit of financial statements under the Corporations Act 2001 26,000 26,000 Total auditors remuneration 26,000 26,000 2010 $ 30
RACING NSW COUNTRY LTD ACN 075 186 873 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2011 2011 $ 2010 $ NOTE 8: RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO OPERATING (LOSS) AFTER INCOME TAX Reconciliation of Cash Flows from Operating Activities Operating profit/(loss) after income tax 2,920,012 (1,386,564) Loss on sale of motor vehicle 2,020 - Depreciation of plant & equipment 22,938 27,181 Decrease/(increase) in receivables (2,136,815) 529,248 Increase/(decrease) in payables (782,425) 945,049 Increase in provisions 11,550 2,635 Cash Flows from Operating Activities 37,280 117,549 Credit Stand-by Arrangement and Loan Facilities There are no credit stand-by arrangements or loan facilities as at 30 June 2011;(2010:Nil) 2011 $ 2010 $ NOTE 9: CASH AND CASH EQUIVALENTS - CURRENT Cash at Bank 1,372,238 1,317,958 Petty Cash 200 200 Total Cash and Cash equivalents 1,372,438 1,318,158 The cash at bank bears interest at a floating rate of 4.3% (2010: 3.2%). 2011 $ 2010 $ NOTE 10: TRADE AND OTHER RECEIVABLES - CURRENT Racingcorp Pty Ltd 10,828,816 Trade and other receivables 851,200 Loans to race clubs * 30,000 Total trade and other receivables 11,710,016 * Loans to race clubs – refer to note 11 for the non-current portions of these receivables. 8,655,963 887,238 30,000 9,573,201 a) Effective Interest Rate and Credit Risk Information concerning the effective interest rate and credit risk of both current and non-current receivables is set out in the non-current receivables note (note 11). 31
Page 1 and 2: RACINGNSWCOUNTRY 2011ANNUALREPORT
Page 3 and 4: C o n t e n t s Notice of Annual Ge
Page 5 and 6: TOTAL NSW TAB MEETINGS 400 350 300
Page 7 and 8: Mr Bob Pavitt Chairman Consultant R
Page 9 and 10: Prior to government approval a comm
Page 11 and 12: In other compliance issues, the Onl
Page 13 and 14: TRAINER’S PREMIERSHIP Trainer Win
Page 15 and 16: CLASS DIST. WINNER JOCKEY TRAINER A
Page 17 and 18: CLASS DIST. WINNER JOCKEY TRAINER A
Page 19 and 20: Financial year 2010-11 represented
Page 22 and 23: Snapshots from Awards Night 2010-11
Page 24 and 25: RACING NSW COUNTRY LTD ACN 075 186
Page 44 and 45: 44 No. Meetings Total RNSWC Distrib
Page 46 and 47: A p p e n d i x 2 Country Racecours
Page 48: RACINGNSWCOUNTRY L e v e l 7 , 5 1

2011 REPORT ANNUAL - Racing NSW

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