On behalf of the Chairman, Docca Laird, the Board of Directors and all the team members I have great pleasure in presenting the 70th Annual Report for the year ending 30 January 2018.
The past financial year has been an interesting trading period for the Club and continues to be positive even with the opening of the highway bypass in December 2017. The Club remains a vital part of our community for all our patrons as a social hub, meeting and conference venue, and a place to celebrate with family and friends. We continue to support our community, welfare, social and sporting groups and individuals with the last Club Grants reporting period totalling $85 372 in cash and kind donations.
From our financial statements you will note we have net profit of $18,505. From our operating activities a net cash result of $355,680 was attained. This was used to meet our financing commitments of $247,090 (bank loans and gaming machine agreements) as well as purchase of property, plant and equipment of $12,987. Our cash and cash equivalents at the end of the financial year being $302,767 (2017 $207,164). Our trading profit (excluding depreciation, impairment loss and net gain on disposal of assets) was a healthy $287,352. Prior to end of financial year figures management reviewed our current asset register and adjustments were made to the estimated life of assets based on the assessment of their current condition (eg air-conditioning plant).
In March 2018 we have secured an additional $350,000 finance to be used to refresh our interior furniture and fittings, both in the Club general trading areas and function rooms (function room furniture is in excess of 40 plus years old and no longer meets the needs for the purpose of the rooms).
During this past year our staff have had the pleasure to host weddings, birthdays, anniversaries and other celebrations with you – our patrons. We have also shared in the loss of your family and friends and to all those who have lost loved ones or experiencing continued ill health, our thoughts are with you.
We have brought you some of the top Australian entertainers as well as showcased our local talent. We have hosted many sporting groups for their presentation and end of season celebrations. Our schools continue to use our facilities as a safe and enjoyable venue for their celebrations and social events.
We also take this opportunity to thank our staff and our volunteers who support management every day – it takes a dedicated and passionate team to provide a community with a venue we are proud of – The Macksville Ex-Services Club.
CEO – Macksville Ex-Services Club