Financial Report Yr Ending 3.. - SHARKIES | Cronulla Sutherland ...

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1200mm x 2400mm Shire Steel Supplies COUNTER SALES CUSTOMER PARKING OFFCUTS 250mm x 500mm 250mm x 500mm 300mm x 500mm KG STEEL CUT TO SIZE Tel: (02) 9542 2227 500mm x 1000mm CHAIRMAN’S REPORT White background: Black / dark coloured background: Hisense Colour Specifications SIGNAGE: Shire Steel S U P P L I E S STEEL CUT TO SIZE RHS / ANGLES /FLATS / PIPE / STRUCTURAL Shire Steel Shire Steel Shire Steel $2 Shire Steel Dear Members, Over the past few years we have spoken about what we are striving to achieve at the Sharks. We are moving away from a business model based on poker machine revenue to fund an NRL side, to one where our business operations are truly diversified, a financially independent NRL team supported by revenue from our Leagues Club and property assets. If we are successful, it will enable us to provide more support for our juniors and our local community. At the time of writing this report we are a step closer to our objective, our development plans have received a favourable recommendation from the NSW Department of Planning and Infrastructure. Our proposal has now been referred to the Planning Assessment Commission for final determination. It has been a long journey and by the Atime of our AGM it may well be the case that their decision has been handed down. Whatever the decision, I know that no effort has been spared in securing a favourable outcome for the Club. We have spent many hours discussing our plans with local politicians and community groups and while we may not have always agreed with their views we have always been available to discuss our plans with those interested. Our planning proposal attracted an enormous response from the community, with almost 5,000 submissions received by the Department. Importantly, the majority (56%) of those submissions were in favour of our proposal. To all who have contributed to this effort, no matter how large or small, I offer sincere thanks for your support. In particular I would like to acknowledge the support and hard work of our property partners Bluestone Capital Group. If we obtain a favourable outcome on our development proposal our future will no doubt be bright. However, at present our operating performance in the Leagues Club highlights how important our property plans are to our future. In the past year the Leagues Club generated an operating surplus of $0.64m prior to finance costs and grants to the Football Club, however once those factors were considered, generated a loss of $1.89m. The results highlight the difficult situation the Club will be in if a successful property outcome is not achieved. Managing our financial situation is crucial and we are well served in having an excellent Chief Financial Officer in Gy Wallace. A successful property outcome will result in our property partners Bluestone Capital Group in paying $10million off our bank debt. This will provide immediate relief on the level of interest that we must pay, however the real benefits of a successful development application will not be immediate. This will require your Club to continue careful financial management ensuring that both Clubs continue to operate within their means. During the year Steven Coomber acted as our interim Leagues Club General Manager and did a remarkable job in stabilising our trading performance and more recently Jeff Morris has joined the Club as our Leagues Club General Manager. Jeff has many ideas to make the Club more attractive for our members and their guests and if you haven’t yet met Jeff please make yourself known to him. We want a Club that is more attractive to our members and all feedback is welcome. Our Football Club is performing extremely well and we are pleased to have secured Shane Flanagan as head coach. His partnership with our Football Club General Manager Darren Mooney has been crucial to turning our Football Club fortunes around. We are also fortunate to have a leader in Paul Gallen captaining our side. While the focus is on the NRL side I am particularly excited about changes through our Club. In 2012 the majority of our NYC squad are local juniors. This reflects favourably on our junior representative program, the coaches and the support team that are helping develop the Sharks of tomorrow. I would specifically like to mention the work of Al Wilson and our development staff and coaches involved in our Sharks Academy Talent Squad which has been crucial in developing the pathway for our local juniors. However, it all begins with our local Junior Rugby League Clubs and the Junior Rugby League and to all those volunteers and the tireless volunteer committee, who help our young people play this great game – thank you. During the year we welcomed Onsite Cleaning as a shorts sponsor and enjoyed the continued support of Toyota, Hisense, Blades, BodyScience, Gatorade, Schweppes, PokerStars.net and Fosters. To all our sponsors no matter how large or small your support is crucial and is greatly appreciated. To Peter Beaumont and his team, thank you for your efforts in not only attracting new sponsors but serving our existing sponsors. Thank you to all our staff, from our bar staff, catering, accounts, our duty managers, administration, players, coaches, support staff, and marketing team, without your hard work and loyalty a difficult job would have been impossible. In closing I would like to acknowledge our members and supporters. Your support through a tough few years has made us stronger and I offer you my sincerest thanks. CMYK: C=100 M=10 Y=60 K=5 CMYK: C=0 M=55 Y=100 K=0 Damian Irvine Chairman
CHAIRMAN’S REPORT CONTINUED Football Club As far as results and ladder position were concerned the 2011 NRL season was disappointing in that it matched our 2010 win record of seven, despite the fact that we were sitting on the fringe of the top eight after 18 rounds. Finishing the season with eight straight losses certainly wasn’t a part of the plan and even though our results were equal to those of 2010 the team definitely showed signs of improvement in Shane Flanagan’s first full season as Head Coach, with our inability to win the close matches proving to be the difference. On a personal level our Captain Paul Gallen was once again the standout, representing Australia and captaining NSW during 2011. Paul also backed up his 2010 efforts with a clean sweep at our 2011 Awards Night, winning the Player of the Year and the Players’ Player awards, while adding to that he also won the prestigious Dally M Lock Forward of the Year, the Peter Frilingos “Headline Moment of the Year” and the RLPA Player of the Year. Capping off a season of outstanding personal achievement in Round 26 in a match played against the Wests Tigers at Toyota Stadium Paul also celebrated his 200th NRL and Cronulla Sharks match which represented a tremendous accomplishment for such a loyal servant to our club. Of our other players, Kade Snowden again played for NSW in the State of Origin and also achieved a childhood dream when selected to debut for Australia. Jeremy Smith again represented New Zealand and Tyson Frizell was selected to play for Wales in the Four Nations Tournament at the end of season. The 2011 season also saw a number of players depart the club for an assortment of reasons while heading to a number of different destinations, with Luke Douglas, Kade Snowden, Dean Collis, Tim Smith, Scott Porter, Johnny Mannah, Broderick Wright, Siosaia Vave, Paul Aiton, Taulima Tautai, Stuart Flanagan and Trent Grubb leaving the Sharks. We would like to thank them all for their contribution to the club and wish them all the best in their future. NRL Assistant Coach Joey Grima also decided to move on and our best wishes went with him as well. Our NYC team, coached by James Shepherd were the shining lights for the club in 2011 finishing the home and away season in third position on 37 competition points. It was the first time since the inception of the Toyota Cup in 2008 that a Cronulla Sharks team has made the finals. Congratulations must go to all Toyota Cup players and staff on this achievement. The boys performed well in the finals series before bowing out to eventual runners up North Queensland in the Grand Final Qualifier. In the NSW Cup the Sharks entered into a partnership with the Melbourne Storm in 2011, a venture which proved to be a great success. The team, in replicating their NYC counterparts, finished in third position on 37 competition points and while they too performed admirably during the finals series they were denied a spot in the Grand Final as a result of a heartbreaking loss in golden point to the Auckland Vulcans. Coach Tony Herman, his players and staff all deserve recognition for an excellent season. In the District Junior Representative arena our Under-18 SG Ball side, coached by Dave Howlett finished the year in a credible 7th position and were knocked out in a hard fought contest by eventual Premiers Newcastle. As for the Sharks under-16 Harold Matthews side, coached by Steve Holz, they may have had a disappointing season finishing in 14th position, but the boys were a credit to the club and showed great spirit and determination each week. Finally, in relation to the junior representative program, special thanks must go to the Cronulla Sutherland Junior League for their assistance and to Salmon Buckets, Bullet Labour Hire and Douglas Maher Coleman, our junior representative sponsors for 2011, for their contribution and support. Darren Mooney General Manager Football Sponsors 2011 saw the continuation of many valued sponsors. Hisense continued on as our naming rights sponsor, Pokerstars.net maintained their sleeve position, Shire Steel as the front of shorts sponsor and Blades continued as our official team wear supplier. The Sharks welcomed OnSite Cleaning as a rear of shorts sponsor on a 3 year contract. The Sharks would also like to show their appreciation to our many long term sponsors remaining with us in 2011, Toyota (Stadium Sponsor), Schweppes (Official Soft Drink) Carlton United Brewery (Official Beer), Gatorade (Official Hydration Drink), Body Science (Official Nutrition and Compression Supplier) and Sharkies Leagues Club (Official Home of The Sharks). We would again like to thank the large number of local businesses within The Shire who are the true backbone of our corporate hospitality program. The Sharks can be proud of their Game day corporate program boasting over 1,000 corporate attendee’s per home game, one of the highest attended programs within the NRL. The Sharks have benefitted from this loyal support from the local Shire businesses for many years, and we are truly appreciative. We would also like to thank the growing number of local and national businesses joining the signage program at Toyota Stadium. This program has been boosted with the addition of our new signage partner OAMM. OAMM have introduced many new businesses as signage partners over the last 12 months taking advantage of the media opportunities we offer. At a Junior Rugby League level, we would also like to thank Salmon Buckets, Bullet Labour Hire and Douglas Maher Coleman, for their continued support, it is due to these great companies that we have such as successful Junior League program. Peter Beaumont General Manager Commercial
Page 1: 2011 ANNUAL REPORT
Page 5 and 6: FINANCIAL STATEMENTS FOR THE YEAR E
Page 7 and 8: FINANCIAL REPORT FOR THE YEAR ENDED
Page 9 and 10: NOTES TO THE FINANCIAL STATEMENTS F
Page 37 and 38: NOTES TO THE FINANCIAL STATEMENTS F
Page 39 and 40: PROPOSED PROPERTY DEVELOPMENT VIEW

Financial Report Yr Ending 3.. - SHARKIES | Cronulla Sutherland ...

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