ANNUAL REPORT 2010 sub-Branch - Blacktown RSL

Significant changes in the state of affairsThere were no significant changes in the company’s state of affairs that occurred during the financialyear.Principal activitiesThe principal activity of the company during the year consisted of the conduct and promotion of alicensed social club for members of the company.There have been no significant changes in the nature of these activities during the year.ObjectivesTo provide quality facilities and services of a licensed club for members and their guests in a sustainablemanner, both now and into the future. To promote the objects of the Returned and Services League ofAustralia and support local community organisations and activities.Strategy for achieving the objectivesThe Club undertakes strategic planning reviews, including governance, operational, marketing,demographic and community issues in determining both long and short term policy and procedures.Events subsequent to reporting dateThere are no matters or circumstances that have arisen since the end of the financial year that havesignificantly affected or may significantly affect the operations of the company, the results of thoseoperations or the state of affairs of the company in future financial years.Likely and future developments and expected resultsDirectors are currently investigating opportunities for site development as identified in the recent strategicplanning session to improve cash holdings and future year cash flows.Apart from the above the directors do not anticipate any particular developments in the operations of thecompany which will affect the results in subsequent years.Performance measurement and key performance indicatorMonthly performance review by Board and Management utilising performance ratios such as EBITDA,Gross profit, wages, and profit and cash flow values, as well as visitation, area utilisation and customersurvey/feedback trends.Indemnification of officersThe company has provided for and paid premiums during the year for directors’ and officers’ liability andlegal expenses’ insurance contracts.The insurance premiums relate to:• Costs and expenses incurred by the relevant officers in defending proceedings, whether civil or criminaland whatever their outcome;• Other liabilities that may arise from their position with the exception of conduct involving a wilful breachof duty or improper use of information or position to gain a personal advantage.The directors have not included details of the nature of the liabilities covered or the amount of thepremium paid with the respect to the directors’ and officers’ liability and legal expenses insurancecontract, as such disclosure is prohibited under the terms of the contract.Proceedings on Behalf of the CompanyNo person has applied for leave of Court to bring proceedings on behalf of the company or intervene inany proceedings to which the company is party for the purposes of taking responsibility on behalf of thecompany for all or any part of those proceedings.The company was not a party to any such proceedings during the year.Auditor’s Independence DeclarationThe Directors have received the Independence Declaration from the Auditors. The Declaration isattached as page 17.Signed in accordance with a resolution of the directors.Dated at Blacktown this 13th day of August 2010.B DurbinChairman16 BLACKTOWN RSL CLUB LIMITED - where friends love to meet