Ainslie Football and Social Club Limited 2010 Annual Report

FINANCIAL REPORT
Ainslie Football and Social Club Limited ABN 17 102 364 321
Note 15: Capital and Leasing Commitments
Operating Lease Commitments
Non-cancellable operating leases contracted for but not capitalised
in the financial statements
Payable — minimum lease payments
2010 2009
$ $
— not later than 1 year 41,000 41,000
— between 1 and 5 years 164,000 164,000
— greater than 5 years 492,000 533,000
697,000 738,000
The property lease is a non-cancellable lease with a 88 year term, with rent payable annually in advance.
An option exists to purchase the land at the end of 2026.
Note 16: Related Party Transactions
Transactions between related parties are on normal commercial terms and conditions no more favourable
than those available to other parties unless otherwise stated.
a) Directors
The names of person who were Directors of the club at any time during the financial year are as follows:
Mr Ralph Rendell
Mr Greg Vickers
Mr David Lalor
Mrs Barbara Marshall
Mr Wayne Rogers
Mr Anthony White
Mr Malcolm Scholes
Mr Peter Lawless
Mr John Bradley
Mr Denis Condon
Mr Barry Browning
Directors did not receive any remuneration during the financial year. No amounts were paid into any
superannuation funds in connection with retirement of Directors.
The Ainslie Football and Social Club have received services from the following committee members
1) Mr Peter Lawless for $12,712 (GST inclusive) via his company Canberra Air Conditioning and Mechanical
Services Pty Ltd.
2) Mr John Bradley for $196,529 (GST inclusive) for the various construction work performed by his company
H J Bradley Pty Ltd
The above transactions were on normal commercial terms and conditions and no more favourable than those
available to other parties
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