annual report 2011 - Blacktown RSL

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2011 2010 $ $ 2 Revenue from Continuing Operations Sale of Goods Revenue Bar sales 1,185,144 1,389,444 Catering sales 539,956 __________________ 592,576 __________________ 1,725,100 1,982,020 __________________ __________________ Rendering of Services Revenue Poker machines – net clearances 10,759,084 11,611,146 Members’ subscriptions 110,483 108,814 Entertainment and promotions 115,897 164,666 Members amenities income 13,584 13,422 Keno sales 42,863 43,921 Commission received 31,175 33,531 Sundry income 124,576 __________________ 60,228 __________________ 11,197,662 12,035,728 __________________ __________________ Other Revenues Interest received 22,326 30,870 Dividends received - 209 Profit on disposal of property, plant and equipment 31,911 __________________ 100,609 __________________ 54,237 131,688 __________________ __________________ Total revenue from continuing operations 12,976,999 14,149,436 __________________ __________________ 3 Expenses (a) Profit before income tax expense includes the following specific expenses: Finance costs Bank loans and overdraft 306,787 369,330 Hire purchase charges 38,201 __________________ 6,367 __________________ 344,988 375,697 __________________ __________________ Depreciation Land and buildings 210,102 205,055 Plant and equipment 884,656 __________________ 845,451 __________________ Total depreciation 1,094,758 1,050,506 __________________ __________________ Net expense from movements in provision for Employee benefits 26,250 __________________ 13,420 __________________ Defined contribution superannuation expense 250,670 259,306 __________________ __________________ 26 BLACKTOWN RSL CLUB LIMITED - where friends love to meet
ANNUAL REPORT 2011 3 Expenses (continued) 2011 2010 % % (b) Key Performance Indicators Bar Gross profit percentage 61.0% 61.7% Wages to sales percentage 39.8% 35.5% Catering Gross profit percentage 71.9% 68.6% Wages to sales percentage 43.9% 41.5% Wages and salaries (including on costs) – percentage of total revenue 26.8% 25.3% EBITDA percentage 15.4% 17.7% 4 Income Tax (a) Income Tax Expense The Income Tax Assessment Act, 1997 (amended) provides that under the concept of mutuality clubs are only liable for income tax on income derived from non-members and from outside entities. $ $ The amount set aside for income tax in the Statement of Comprehensive Income has been calculated as follows: Proportion of income attributable to non-members 4,117,249 4,661,234 Less: Proportion of expenses attributable to non-members (3,751,250) __________________ (4,081,043) __________________ 365,999 580,191 Add: Other taxable income 190,544 __________________ 125,711 __________________ 556,543 705,902 Less: Other deductible expenses (413,053) (431,314) Tax losses utilised - __________________ (268,041) __________________ Net income subject to tax 143,490 6,547 __________________ __________________ Income tax applicable to above at tax rate of 30% 43,047 1,964 (Increase)/decrease in deferred tax (1,047) 71,754 Overprovision prior year (63) __________________ - __________________ Income tax expense attributable to operating profit 41,937 73,718 __________________ __________________ (b) Current Tax (Assets)/Liabilities Movements during the year: Balance at beginning of year 1,964 (29,567) Income tax paid (137,124) - Current year’s income tax expense 43,047 1,964 Refunds received - 29,567 Overprovision prior year (63) __________________ - __________________ (92,176) 1,964 __________________ __________________ BLACKTOWN RSL CLUB LIMITED - where friends love to meet 27
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Page 5 and 6: ANNUAL REPORT 2011 Vale The Board o
Page 7 and 8: ANNUAL REPORT 2011 MINUTES OF THE 2
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Page 11 and 12: ANNUAL REPORT 2011 12. The Register
Page 13 and 14: ANNUAL REPORT 2011 SECOND ORDINARY
Page 15 and 16: ANNUAL REPORT 2011 JOHNSTON, Kevin
Page 17 and 18: ANNUAL REPORT 2011 Auditor’s Inde
Page 19 and 20: ANNUAL REPORT 2011 Directors’ Dec
Page 21 and 22: ANNUAL REPORT 2011 Statement of Fin
Page 23 and 24: ANNUAL REPORT 2011 Statement of Cas
Page 25 and 26: ANNUAL REPORT 2011 AASB 118 'Revenu
Page 27: ANNUAL REPORT 2011 (m) Financial Li
Page 31 and 32: ANNUAL REPORT 2011 10Property, Plan
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Page 39 and 40: ANNUAL REPORT 2011 CITY OF BLACKTOW

annual report 2011 - Blacktown RSL

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