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

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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. Opinion In our opinion the financial report of <strong>Cronulla</strong>-<strong>Sutherland</strong> Leagues Club Limited is in accordance with the Corporations Act 2001, including: (a) Giving a true and fair view of the company’s and consolidated entity’s financial position as at 31 October 2011 and of their performance for the year ended on that date; and (b) Complying with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations Regulations 2001. Material Uncertainty Regarding Continuation as a Going Concern Without qualifying our opinion, we draw attention to Note 1(q) in the financial report which indicates that the consolidated entity incurred a net loss of $2,008,051 (company $1,883,851) during the year ended 31 October 2011 and, as of that date, the consolidated entity’s current liabilities exceeded its current assets by $14,043,299 (company $12,979,352). These conditions, along with other matters as set forth in Note 1(q), indicate the existence of a material uncertainty which may cast significant doubt about the company’s and the consolidated entity’s ability to continue as going concerns and whether the company and the consolidated entity will realise their assets and extinguish their liabilities in the normal course of business and at the amounts stated in the financial report. GRANT THORNTON AUDIT PTY LTD Chartered Accountants James Winter Partner – Audit & Assurance Sydney, 31 July 2012 34
PROPOSED PROPERTY DEVELOPMENT VIEW LOOKING SOUTH TO CLUB DECK AND RESTAURANTS FROM THE RETAIL ENTRY FORECOURT TO RETAIL ON CAPTAIN COOK DRIVE
Page 1 and 2: 2011 ANNUAL REPORT
Page 3 and 4: CHAIRMAN’S REPORT CONTINUED Footb
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: NOTES TO THE FINANCIAL STATEMENTS F

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

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