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 NOTE 11: RECEIVABLES - NON CURRENT 2011 $ 2010 $ Loans to race clubs 60,000 60,000 Total Receivables 60,000 60,000 a) Loans to race clubs Both current and non-current loans comprise Country Racecourse Development Fund (CRDF) and non-CRDF Loans. These are outlined below. Country Racecourse Development Fund Loans Receivable Goulburn & District Race Club 90,000 90,000 Total Racecourse Development Fund Loans Receivable 90,000 90,000 b) Fair Values The fair values of non-current receivables of the company approximate their carrying values. c) Interest Rate Risk The receivables of the company are non-interest bearing. Therefore the company is not exposed to interest rate risk. d) Credit Risk Except for the concentration of credit risk to Racingcorp Pty Ltd the company does not have any material credit risk exposure to any single group of receivables. The following table details the company's receivables exposed to credit risk with ageing analysis and impairment provided thereon. Amounts are considered as 'past due' when the debt has not been settled within the terms and conditions agreed between the company and the counterparty to the transaction. Receivables that are past due are assessed for impairment by ascertaining solvency of the debtors and are provided for where there are specific circumstances indicating that the debt may not be fully repaid to the company. The balances of receivables that remain within initial trade terms (as detailed in the table) are considered to be of high credit quality. 2011 Gross amount $ Past due and impaired $ Past due but not impaired (days overdue) 90 $ $ $ $ Term receivables 851,200 - 253,167 - - 598,033 Other receivables 10,918,816 - - - - - Total 11,770,016 - 253,167 - - 598,033 Within initial trade terms $ - 10,918,816 10,918,816 2010 Gross amount $ Past due and impaired $ Past due but not impaired (days overdue) 90 $ $ $ $ Within initial trade terms $ Term receivables 579,834 - 343,157 - - 236,677 Other receivables 9,053,367 - - - - - Total 9,633,201 - 343,157 - - 236,677 - 9,053,367 9,053,367 32
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 12: PLANT & EQUIPMENT - NON CURRENT a) Details of Carrying Amounts Plant & Equipment Plant & Equipment at cost 96,193 96,193 less: Accumulated depreciation (42,009) (22,770) Total Plant & Equipment 54,184 73,423 Motor Vehicles Motor Vehicles at cost - 39,709 less: Accumulated depreciation - (16,991) Total Motor Vehicles - 22,718 b) Movements in carrying amounts Plant & Equipment Carrying amount at beginning of the year 73,423 92,662 Additions - - Depreciation expense (19,239) (19,239) Carrying amount at the end of the year 54,184 73,423 Motor Vehicles Carrying amount at beginning of the year 22,718 30,660 Depreciation expense (3,698) (7,942) Disposals (19,020) - Carrying amount at the end of the year - 22,718 Plant & Equipment Total Carrying amount at beginning of the year 96,141 123,322 Additions - - Depreciation expense (22,937) (27,181) Disposals (19,020) - Carrying amount at the end of the year 54,184 96,141 2011 $ 2010 $ NOTE 13: TRADE AND OTHER PAYABLES - CURRENT Trade Payables 137,611 41,754 Sundry Payables 1,436,118 919,910 Payable to Racing NSW 2,808,371 4,202,861 Total trade and other payables 4,382,100 5,164,525 2011 $ 2010 $ NOTE 14: PROVISIONS Current Liabilities Employee Benefits 35,544 29,965 Non-Current Liabilities Employee Benefits 39,809 33,837 Total Provisions 75,353 63,802 33
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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