Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20October 2016 NSW Masonic Club 19 October 2016 NSW Masonic Club 19 ANNUAL REPORT 2016 INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2016 Note 2016 2015 $ $ Income Trading profit 1,920,854 1,412,294 Poker machine profit (excluding depreciation) 21,077 34,952 Members subscriptions 79,856 82,321 Donations - - Rent received 186,885 180,095 Room hire 46,598 52,963 Interest received 57,468 66,245 Dividends received 8,299 9,099 Sundry income 1,456 2,335 2,322,493 1,840,304 Expenses General overhead expenses 699,313 817,565 Administration expenses 583,289 608,269 Bad debts - - Auditors’ remuneration: Audit fees 20,500 20,000 Accountancy and taxation services 3,000 2,000 Donations 4,110 4,367 Social amenities and activities 53,862 56,941 Directors and related persons’ benefits 15 32,193 47,148 Directors fees 60,250 63,750 Depreciation: Building 182,376 190,000 Plant and equipment 233,576 189,232 Rates and taxes 131,389 126,014 2,003,858 2,125,286 Profit/(loss) before income tax 318,635 (284,982) Income tax (expense)/benefit 4 (46,164) 44,626 Profit/(loss) after income tax 272,471 (240,356) TRADING ACCOUNT FOR THE YEAR ENDED 30 JUNE 2016 ACCOMMODATION REAGH BAR CELLOS LOUNGE BAR TOTAL 2016 TOTAL 2015 $ $ $ $ $ $ Income Sales 3,072,952 72,565 196,151 104,217 3,445,885 2,866,155 Expenses Cost of Sales 101,765 30,060 55,481 36,826 224,132 206,668 Gross Profit 2,971,187 42,505 140,670 67,391 3,221,753 2,659,487 Direct labour expenses 1,002,787 48,464 - 165,597 1,216,848 1,183,952 Direct expenses 65,153 - 18,456 442 84,051 63,241 1,067,940 48,464 18,456 166,039 1,300,899 1,247,193 Trading profit 1,903,247 (5,959) 122,214 (98,648) 1,920,854 1,412,294 POKER MACHINE OPERATING ACCOUNT FOR THE YEAR ENDED 30 JUNE 2016 2016 2015 $ $ Net takings 21,187 35,765 Less direct expenses Repairs and maintenance 110 813 21,077 34,952 Less: Depreciation 12,259 20,930 Trading profit 8,818 14,022 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NEW SOUTH WALES MASONIC CLUB We have audited the accompanying financial report of New South Wales Masonic Club (the “Company”), which comprises the statement of financial position as at 30 June 2016, and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year ended on that date, a summary of significant accounting policies and other explanatory notes and the directors’ declaration of the Company at the year’s end or from time to time during the financial year. Directors’ Responsibility for the Financial Report The directors of the Company are responsible for the preparation and fair presentation of the financial report in accordance with Australian AccountingStandards–ReducedDisclosureRequirements(includingthe Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. In Note 1, the directors also state, in accordance with Accounting Standard AASB 101: Presentation of Financial Statements, that compliance with the Australian Accounting Standards – Reduced Disclosure Requirements ensures that the financial report, comprising the financial statements and notes, complies with Australian Accounting Standards – Reduced Disclosure Requirements. Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternal control relevant to the Company’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of New South Wales Masonic Club on 5 October 2016, would be in the same terms if provided to the directors as at the date of this auditor’s report. Auditor’s Opinion In our opinion the financial report of New South Wales Masonic Club is in accordance with the Corporations Act 2001, including: i) giving a true and fair view of the Company’s financial position as at 30 June 2016 and of its performance for the year ended on that date; and ii) complying with Australian Accounting Standards - Reduced Disclosure Requirements (including the Australian Accounting Interpretations) as described in Note 1 and the Corporations Regulations 2001. Name of Firm: Meagher Howard & Wright Name of Partner: Ken Wright Address: Suite 505, Lvl 5, 55 Grafton St, Bondi Junction NSW 2022 Signed: Dated this 5th day of October 2016