Annual Report - The Greens The Entrance

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The Entrance Bowling Club LimitedABN 29 000 956 052Statement of Cash FlowsFor Year Ended 30 June 2011Note 2011 2010$ $InflowsInflows(Outflows) (Outflows)Cash flows from operating activitiesReceipts from customers 4,387,340 4,396,480Payments to suppliers and employees (3,914,346) (4,412,344)Interest received - 353Rent received 120,801 92,889________Net cash provided by operatingactivities 14 593,795 77,378________Cash flows from investing activitiesPayments for property, plant & equipment (175,010) (197,312)Proceeds from sale of assets - -________Net cash used in investing activities (175,010) (197,312)________Cash flows from financing activitiesRepayments of borrowings (315,319) (189,724)Proceeds from borrowings 21,477 271,464________Net cash provided by financingactivities (293,842) 81,470________Net (decrease)/increase in cash held 124,943 (38,194)Cash at the beginning of the financial year 153,246 191,440________Cash at the end of the financial year 278,189 153,246________1028
The accompanying notes form part of these financial statements.The Entrance Bowling Club LimitedABN 29 000 956 052Notes to the Financial StatementsFor The Year Ended 30 June 2011The financial statements are for The Entrance Bowling Club Limited as an individual entity,incorporated and domiciled in Australia. The Entrance Bowling Club Limited is a companylimited by guarantee.Note 1.Summary of Significant Accounting PoliciesBasis of PreparationThe Entrance Bowling Club Limited has elected to early adopt the pronouncementsAASB 1053: Application of Tiers of Australian Accounting Standards and AASB 2010-2:Amendments to Australian Accounting Standards arising from Reduced DisclosureRequirements to the annual reporting period beginning 1 January 2010.The financial statements are general purpose financial statements that have beenprepared in accordance with Australian Accounting Standards – Reduced DisclosureRequirements of the Australian Accounting Standards Board and the Corporations Act2001.Australian Accounting Standards set out accounting policies that the AASB hasconcluded would result in financial statements containing relevant and reliable informationabout transactions, events and conditions. Material accounting policies adopted in thepreparation of these financial statements are presented below and have beenconsistently applied unless otherwise stated.The financial statements have been prepared on an accruals basis and are based onhistorical costs, modified, where applicable, by the measurement at fair value of selectednon-current assets, financial assets and financial liabilities.Accounting Policies(a)InventoriesInventories are measured at the lower of cost and net realisable value.(b)Income TaxThe company is exempt from income tax, as it is an organisation that solely encouragesand promotes the game of lawn bowls in accordance with Section 50-45 of the IncomeTax Assessment Act (1997). The Directors believe that for the current financial year thecompany has preserved its exempt status.1129
Page 1 and 2: The Entrance Bowling Club Limitedt/
Page 3 and 4: NOTICE OF MEETINGTake note that the
Page 5 and 6: entertainment of special guests of
Page 7 and 8: A big thanks to Clarrie Fitzgerald,
Page 9 and 10: TREASURER’S REPORTIt is with plea
Page 11 and 12: and dedication, events would not be
Page 13 and 14: MINUTES OF THE 39 TH Annual General
Page 15 and 16: of costs whilst simultaneously purs
Page 17 and 18: It is also worth noting that those
Page 19: The following ordinary resolutions
Page 22 and 23: The Entrance Bowling Club LimitedAB
Page 26 and 27: Auditor’s Independence Declaratio
Page 38 and 39: Note 8. Property Plant and Equipmen
Page 44 and 45: Report on the Financial ReportIndep
Page 47 and 48: VALE1st July 2010 to 30th June 2011

Annual Report - The Greens The Entrance

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