["ANNUAL REPORT OF THE COMMITTEE Competition Results MIXED COMPETITION RESULTS STATE EVENTS WINNER RUNNER-UP Sharp Cup Glenelg The Grange Kooyonga Junior Division 2 The Vines CLUB EVENTS WINNER RUNNER-UP RS Thomson Gregory Wark & Penelope Wark Michael Gilroy & Philippa Oxenham Father & Daughter Crawford Giles & Ava Giles William Hards & Jaime Hards Mother & Son Melissa Emmett & Jack Emmett Louise Bowler & Patrick Bowler Family Mixed Foursomes Mark Deacon & Jodie Deacon Chris Hildyard & Christine Hildyard Club Mixed Foursomes Championship William Somerfield & Emily Giotis Heath Riches & Isabella Cahill-Terrell Mixed Four-Ball Handicap Foursomes Ned Looker & Georgie White Lindsay Elliott & Yoko Kishimoto The Masters at Kooyonga Centenary Trophy Alex Morkunas & Yoko Kishimoto Graham Parker & Scarlett Parker Gary Allison Joe Plamenac Will Hards Taylor Hards WOMEN\u2019S COMPETITION RESULTS STATE EVENTS WINNER RUNNER-UP Sanderson Cup Pennant The Grange Glenelg Mid North Pike Cup Pennant Glenelg North Adelaide Highercombe Women\u2019s A3 Pennant West Lakes Mount Osmond Westward Ho Women\u2019s A4 Pennant Royal Adelaide Women\u2019s Cleek 1 North Adelaide Women\u2019s Cleek 2 Kooyonga CLUB EVENTS WINNER RUNNER-UP Club Championship Matilda Miels Christine Hildyard \u2018A\u2019 Grade Plate Not Played Not Played Bronze Cup Cassandra Heath Philippa Oxenham \u2018B\u2019 Grade Plate Not Played Not Played \u2018C\u2019 Grade Salver Barbara Clapp Sue Fuller \u2018C\u2019 Grade Plate Not Played Not Played Women\u2019s Foursomes Championships Not Played Not Played Ross Sawers Match Play Rachel Fry & Christine Hildyard Jodie Deacon & Melissa Nelligan Bantick Salver Jane Hunter & Philippa Oxenham Zoee Dolling & Janet Marriott Olive Griggs Cup Helen Berry & Catherine Miller Jane Young & Barbara Clapp Vice Captain\u2019s Foursomes Karen Chenoweth & Lesley Smith Anne Donnelly & Judy Hyde Club Junior Championship Imogen Jessen Jaime Hards Junior Girls\u2019 Invitational Raegan Denton (Royal Adelaide) Elly Petersen (Surfers Paradise) Captain\u2019s Trophy Christine Flynn Rachel Fry President\u2019s Trophy Cassandra Heath Jodie Deacon Valerie Hill Trophy Imogen Jessen Anne Brown Mother & Daughter Jillian Trenorden & Lane Trenorden Philippa Oxenham & Clare Oxenham Sue Tonkin Medal Emily Giotis Kayoko Miki Laurel Wreath Janet Marriott Barbara Clapp Monthly Medals (Tuesday) A: Penelope Wark, Jillian Trenorden, Melissa Nelligan, Jodie Deacon, Christine Flynn, Monthly Medals (Saturday) Dorothy Paterson, Lisa Brien B: Janet Marriott, Leisa Thomas, Anna Wyett, Dorothy Paterson, Joanne Woods, Judy Hyde, Carol Smith C: Sue Fuller, Yoko Kishimoto, Julie Brown, Virginia Lacey, Anne Brown (2), Barbara Clapp Judith Marlow, Imogen Jessen, Christine Walsh (3), Jaime Hards (2), Deborah Alexander (3), Amanda MacKenzie, Kayoko Miki","FINANCIAL REPORT \t Content of Financial Statements For the year ended 31 March 2023 \t Statement of Comprehensive Income \t\t 51 \t Statement of Financial Position\t\t\t 56 \t Statement of Changes in Equity\t\t\t 57 \tStatement of Cash Flows\t\t\t\t58 \t Notes to and Forming Part of the Accounts\t 59 \t Statement by the Committee\t\t\t 69 \tAudit Report\t\t\t\t\t\t70 \tFive Year Summary\t\t\t\t\t72","THE KOOYONGA GOLF CLUB INCORPORATED STATEMENT OF COMPREHENSIVE INCOME For year ended 31 March 2023 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2023 Classification of Income and Expenses by Function Note 2023 2022 Income (refer supplementary information) $ $ Membership 3,959,198 3,776,943 House (net) (70,992) (101,997) Golf Shop Operations (net) 393,895 368,710 Property (net) (23,275) Other (102,207) Government Subsidies (12,343) 33,094 35,598 41,155 Total Income 4,203,149 4,094,630 Expenses (refer supplementary information) (244,997) (133,455) (1,171,052) (1,050,590) Finance expenditure (2,003,523) (1,854,005) Administration expenditure (1,168,925) (1,123,028) Course expenditure House expenditure (4,588,497) (4,161,078) Total Expenses (385,348) (66,448) Operating surplus\/(deficit) before Entrance Fees 324,099 338,098 Entrance Fees (61,249) 271,650 Total Surplus\/(Deficit) for Year Amounts Received from Kooyonga Foundation for Artwork & Golf Academy 360,000 60,679 Special Events (Net) 2 (203,920) - Total Comprehensive Income 94,831 332,329 The accompanying notes form part of the financial statements. Page 2 The accompanying notes form part of the financial statements The accompanying notes form part of the financial statements - Page 51 -","THSETKAOTOYEOMNGEANGOTLFOCFLUCB IONCMORPPORREATHEDENSIVE INCOME STFAoTrEMyEeNaTrOeFnCdOMePdRE3H1ENMSIaVErcINhCO2M0E23 (supplementary information) FOR THE YEAR ENDED 31 MARCH 2023 Membership Income 2023 2022 $ $ Membership Income Subscriptions 3,893,226 3,713,401 Other 65,972 63,543 Total Membership Income 3,959,198 3,776,943 House Contribution 983,534 969,331 (411,774) (425,677) Bar Sales 571,760 543,654 Less: Cost of Sales Gross Profit (2023: 58.1%, 2022: 56.4%) 985,164 (488,337) Food Sales 1,109,983 496,827 Less: Cost of Sales (537,200) Gross Profit (2023: 51.6%, 2022: 50.4%) 572,783 32,699 1,073,180 Other Income 73,904 (1,194,136) Total Trading Gross Profit 1,218,447 (17,490) Less: (1,313,819) (1,211,626) Salaries and associated costs (19,699) (138,446) Other direct expenses 36,449 (1,333,518) (101,997) Profit\/(loss) for the year (115,071) Add: Unused catering levy 44,079 Total House Contribution (70,992) The accompanying notes form part of the financial statements. The accompanying notes form part of the financial statements - Page 52 -","THE KOOYONGA GOLF CLUB INCORPORATED STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2F0o23r year ended 31 March 2023 (supplementary information) Golf Shop Operations Contribution 2023 2022 $ $ Retail Sales Less: Cost of Sales 717,184 671,931 Gross Profit (2023: 31.3%, 2022: 32.7%) (492,858) (451,882) 224,326 220,049 Other Golf Operations Income Tuition (net) 51,765 52,885 Driving Range 78,323 94,268 Hire Equipment 10,523 10,223 Club & Buggy Handling & Cleaning Fees 116,718 112,948 Competition Fees 216,466 224,050 Green Fees 306,346 231,669 Motorised Cart Fees 110,919 102,643 Trade days income 177,709 154,407 Other 25,238 23,881 Total Trading Gross Profit 1,318,333 1,227,023 Less Golf Operations Expenditure (12,360) (15,538) Buggy Expenses (91,837) (94,290) Depreciation (11,620) (16,045) Driving Range (30,131) (30,592) Other (25,665) (13,833) Pennant Expenses (11,884) Promotion & Communication (6,435) Repairs and Maintenance (806) - Salaries & Associated Costs (551,407) Trophies & Prizes (188,728) (488,546) (924,438) (193,034) (858,313) Total Golf Shop Operations Contribution 393,895 368,710 The accompanying notes form part of the financial statements. The accompanying notes form part of the financial statements - Page 53 -","THE KOOYONGA GOLF CLUB INCORPORATED STATEMENT OF COMPREHENSIVE INCOME INCOME STATEMENT OF COMPREHENSIVEFOR THE YEAR ENDED 31 MARCH 2023 For year ended 31 March 2023 (supplementary information) SUPPLEMENTARY INFORMATION (CONT.) Property Contribution 2023 2022 $ $ Income 50,122 Rental Income 90,219 50,122 90,219 Total Income (14,011) (30,075) (45,167) Less Property Expenditure (132,474) (14,219) Property Expenses (73,397) Interest (29,877) Depreciation (192,426) (23,275) Total Expenses (102,207) - (1,245) Total Property Contribution 34,339 33,094 Other Income - (40,645) 41,155 Other Income 28,302 41,155 Bank income Profit\/(Loss) on sale or disposal of property, plant & equipment (12,343) Other income Total Other Income Government Subsidies Government Subsidies 35,598 Apprentice Incentives 35,598 Total Government Subsidies The accompanying notes form part of the financial statements. The accompanying notes form part of the financial statements - Page 54 -","THE KOOYONGA GOLF CLUB INCORPORATED STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF COMPREHENSIVE FINoCrOMyeE ar ended 31 March 2023 (supplementary information) FOR THE YEAR ENDED 31 MARCH 2023 SUPPLEMENTARY INFORMATION (CONT.) 2023 2022 $ $ Course Expenditure: Bore maintenance, electricity & water costs 57,618 66,456 Chemicals, turf & sundry expenses 254,059 197,003 Consultants fees 10,092 Course maintenance 6,225 Depreciation 57,204 51,841 Petrol, oil & lubricants 309,175 339,072 Plant maintenance 39,030 Vegetation & Tree Maintenance 54,138 27,534 Wages & associated costs 39,555 48,441 1,186,519 46,266 2,003,523 1,067,300 1,854,005 House Expenditure: 740,168 724,942 Depreciation 122,294 116,570 Cleaning 62,928 60,556 Maintenance Light, power & gas 86,141 81,721 Laundry 41,326 33,149 Upkeep of Surrounds 33,086 30,559 Other 82,982 75,531 1,168,925 1,123,028 Administration Costs: 3 8,650 8,350 Auditors remuneration 20,665 22,561 Committee expenses 56,343 49,133 Computer software & website expenses 69,338 53,257 Insurance premiums and claim expenses 23,186 18,463 Printing, stationery, postage & telephone 101,028 105,358 Rates & Taxes 557,988 Salaries & associated costs 622,322 108,999 Payroll Tax 147,901 23,275 Membership Promotional & Marketing Expenses 8,646 Depreciation 9,646 94,560 Other 9,566 1,050,590 102,407 1,171,052 Finance & Property Expenses: 1 (h) 242,177 130,668 Interest & bank fees 2,820 2,787 Interest on Lease Liabilities 244,997 133,455 The accompanying notes form part of the financial statements. The accompanying notes form part of the financial statements - Page 55 -","TSHETAKOTOEYMONEGNA TGOOLFFCFLIUNB AINNCOCRIPAOLRAPTEODSITION Note 2023 2022 $ $ As at 31 March 2023 4 5 490,402 170,904 STATEMENT OF FINANCIAL POSITION 6 279,501 225,282 AS AT 31 MARCH 2023 7 509,249 386,463 267,618 147,557 Current Assets 8 9 1,546,770 930,206 Cash & cash equivalents Trade & other receivables 10 18,146,046 17,554,902 Inventories 11 2,536,197 477,488 Other current assets 12 13 20,682,243 18,032,390 Total Current Assets 1 (a) 1 (h) 22,229,013 18,962,596 Non-Current Assets 13 881,523 626,884 Property, plant and equipment 1 (a) 3,413,783 2,731,832 Capital works in progress 12 1 (h) 579,307 442,868 Total Non-Current Assets 1,782,333 2,762,860 Total Assets 263,644 283,307 64,062 56,908 Current Liabilities 6,984,652 6,904,659 Trade & other payables Subscriptions and other monies in advance 6,059,344 2,992,334 Short term provisions 2,194,112 2,200,913 Borrowings Entrance Fee Liability 80,219 34,042 Lease Liabilities 189,552 204,345 Total Current Liabilities 8,523,227 5,431,634 Non-Current Liabilities 15,507,879 12,336,293 Borrowings 6,721,134 6,626,303 Entrance Fee Liability Long term provisions 6,721,134 6,626,303 Lease Liabilities 6,721,134 6,626,303 Total Non-Current Liabilities Total Liabilities Net Assets Equity Retained earnings Total Equity The accompanying notes form part of the financial statements. The accompanying notes form part of the financial statements - PageP56ag-e 7","THE KOOYONGA GOLF CLUB INCORPORATED STATEMENT OF CHANGES IN EQUITY STATEMENT OF CHANGES IN EQUITY As at 31 March 2023 FOR THE YEAR ENDED 31 MARCH 2023 Retained Total 2022 Earnings $ Balance as at 1 April 2021 $ Total surplus (deficit) for the year Balance as at 31 March 2022 6,293,974 6,293,974 2023 332,329 332,329 6,626,303 6,626,303 Balance as at 1 April 2022 Total surplus (deficit) for the year 6,626,303 6,626,303 Balance as at 31 March 2023 94,831 94,831 6,721,134 6,721,134 The accompanying notes form part of the financial statements - Page 57 - Page 8","THSETKAOTOEYMONEGNA GTOOLFFCCLUABSINHCOFRLPOORWATSED Note 2023 2022 14 $ $ For year ended 31 March 2023 4 8,840,141 7,554,009 STATEMENT OF CASH FLOWS 35,598 41,155 FOR THE YEAR ENDED 31 MARCH 2023 297,635 228,965 Cash Flows from Operating Activities (6,684,126) (6,320,380) Receipts from customers\/members (377,472) (178,622) Receipts from government subsidies - - Entrance fees Payments to suppliers & employees 2,111,776 1,325,127 Interest paid Interest received (1,813,124) (2,293,464) (2,058,709) (354,476) Net cash provided by (used in) operating activities 182 - (0) - Cash Flows from Investing Activities - (2,647,758) Payments for purchase of property, plant & equipment (3,871,833) Payments for capital work in progress Proceeds from sale of property, plant & equipment 2,086,483 1,038,775 Amounts received for new assets (6,928) (56,131) Net cash provided by (used in) investing activities 2,079,555 982,644 Cash Flows from Financing Activities 319,498 (339,987) Proceeds from Borrowings 170,904 510,891 Payments for Lease Liabilities 490,402 170,904 Net cash provided by (used in) investing activities Net increase\/(decrease) in cash held Cash at beginning of the year Cash at end of the year Page 9 - Page 58 -","THE KOOYONGA GOLF CLUB INCORPORATED THE KOOYONGA GOLF CLUB INCORPNOROATTEEDS TO AND FORMING PART OF THE ACCOUNTS NOTES TO AND FORMING PART OF THE ACCOUNTS For year ended 31 March 2023 NFOORTETSHTEOYEAANRD EFNODREMDIN3G1 MPAARRTCHOF20T2H3E ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 NNoottee 11 -- SSttaatteemmeenntt ooff SSiiggnniiffiiccaanntt AAccccoouunnttiinngg PPoolliicciieess The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standards Australian TAhcecofuinnatnincgiaIlnrteeproprteitsataiognesn,eortahlepruaruptohsoeriftiantaivneciparlorenpoourntctehmatehnats obfetehnepAreupstarraelidaninAaccccoourndtaincgeSwtaitnhdAarcdcsoBunotairndgaSntdantdhaerrdesqAuuirsetmraelinatns of the AcsscocuinatinognsInIntecroprrpeotraattioionns,Aoctthoefr 1a9u8th5o(riStAat)i.ve pronouncements of the Australian Accounting Standards Board and the requirements of the Associations Incorporation Act of 1985 (SA). The financial report of The Kooyonga Golf Club Inc complies with all Australian equivalents to International Financial Reporting Standards T(IhFeRSfi)nianntchieailrrenptoiret toyf. The Kooyonga Golf Club Inc complies with all Australian equivalents to International Financial Reporting Standards (IFRS) in their entirety. Basis of Preparation Basis of Preparation The financial report has been prepared on an accruals basis and is based on historical costs and does not take into account changing money vTahleuefisnaonr,ceiaxlcreepptowrthheares sbteaetnedp,rceuprarerendt voanluaantiaocncsruoaflnsobna-scisuarrnedntisabssaestesd. Coonshtiisstobraisceadl coonsttshaenfdaidr voaelsuensototfatkheeincotonsaicdceorautniot nchgaivnegnining mthoeney evaxlcuheasnogre, efoxcr eapsstewtsh.eUrenlsetsasteodth, ceurwrriesnetsvtaltueadt,iothnes aocfcnoounn-tcinugrrpenotlicaisesseatsd.oCpotsetdisabreasceodnsoisnttehnet fwaiitrhvtahluoesseooff tthheecporenvsioduesrayteioanr.given in the exchange for assets. Unless otherwise stated, the accounting policies adopted are consistent with those of the previous year. The following is a summary of the material accounting policies adopted by the entity in preparation of the financial report. The accounting Tphoelicfioelslohwaivnegbiseaensucmonmsiasrtyenotflythaepmplaietderuianllaecscsoouthnetirnwgispeoslitcaietesda.dopted by the entity in preparation of the financial report. The accounting policies have been consistently applied unless otherwise stated. a) Recognition of Revenue a) TRheecoCglunbitrieocnoordfsReenvterannucee fees as non-operating revenue rather than as an item of operating revenue in the income statement. The TChluebCrleucborgencioserdsseenntrtaranncceefefeeessoavserntohne-oavpeerraagtiengterneuvreenoufeoruatrhceurrtrehnant masemanbietersmhiopfwohpiecrhaitsincgurerevnetnlyue21in.2thyeainrscoams reeqstuaitredmbeyntA. ATShBe C15lu.bThreiscoregsnuisltessinenatdraifnfceerefnecees boevtewr etheenathvercaagsehtfelonwurferoomf oeunrtcraunrrceenftemesemdubreinrsghtihpewyheiacrhainsdcuthrreenretlcyo2rd1e.2dyeenatrrsanascerefqeueirinedthbey AASB s1t5a.tTehmisernetsoufltcsoimn aprdeihffeenrseinvceeinbceotmwee. n the cashflow from entrance fees during the year and the recorded entrance fee in the statement of comprehensive income. The Club recognises subscription revenue in the year to which they relate with amounts received prior to 1 April being recognised as SThuebsCclruipbtrioecnosginniasdevsasnucbes.cTrhipetiColnubrerveecnougenisnetshBeayre, afor otod wanhdicGhothlfesyhroeplarteevwenituheaamtothuenttsimreecoefivseadlep. rior to 1 April being recognised as Subscriptions in advance. The Club recognises Bar, food and Golf shop revenue at the time of sale. b) Income Tax b) TInhceoCmluebTisaxexempt from income tax under Section 23(g)(iii) of the Income Tax Assessment Act . Therefore no tax has been provided in tThheeaCclucobuisntesx.empt from income tax under Section 23(g)(iii) of the Income Tax Assessment Act . Therefore no tax has been provided in the accounts. c) Inventories c) Invveennttoorireisesare measured at the lower of cost and net realisable value. Inventories are measured at the lower of cost and net realisable value. d) Property, Plant and Equipment d) EParcohpeclratsys, PolfapnrtoapnerdtyE,qpulainptmaendntequipment is carried at cost less, where applicable, any accumulated depreciation and impairment Eloascshesc.lass of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses. Property FPrreoepheorldtyland is shown at cost. Building is shown at cost less any accumulated depreciation and impairment losses. Freehold land is shown at cost. Building is shown at cost less any accumulated depreciation and impairment losses. Plant and Equipment PllaannttaannddeEqquuipipmmenetnatre measured on the cost basis less depreciation and impairment losses. Plant and equipment are measured on the cost basis less depreciation and impairment losses. Depreciation TDheepdrecpiraetciioabnle amount of all fixed assets including buildings, but excluding freehold land, is depreciated on a straight line basis over Tthheeirduesperfeuclialibveles atomtohuenCt loufbacllofmixemdeanscsinegtsfirnocmlutdhinegtibmueildthinegass, sbeuttisexhcelulddrineagdfyrefeohroulsdel.aTnhde, idsedperperceiactiaiotnedraotnesafsotrraeiagchht clinlaessbaosfis over tdheepireucsieafbulel laivsessetos athree: Club commencing from the time the asset is held ready for use. The depreciation rates for each class of depreciable assets are: - Page 59 -","NTHOE KTOEOSYOTNOGAAGNOLDF CFLOUBRINMCOINRPGORPATAERDT OF THE ACCOUNTS For year ended 31 March 2023 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Note 1 - Statement of Significant Accounting Policies (cont.) Depreciation (cont.) Category Useful Lives Buildings - Brick & Stone 20-40 Years - Wood & Iron 10 Years Course development 10 Years Watering system 25 Years Bores 20 Years Furniture, Plant & equipment Computer equipment 5-10 Years 3\u2153 Years Impairment of Assets At each reporting date, the Committee reviews the carrying values of its assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is expensed to the income statement. Where it is not possible to determine recoverable amount of an individual asset, the Committee estimates the recoverable amount of the cash-generating unit to which the asset belongs. e) Employee Benefits Provision is made for the Club's liability for employee benefits arising from services rendered by employees to balance date. Employee benefits expected to be settled within one year together with benefits arising from salaries and wages, annual leave and sick leave which will be settled after one year, have been measured at their nominal amount. Other employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability for employee entitlements to long service leave the Club has satisfied itself that based on past experience, the accrual of the Club's long service leave liability based on remuneration rates and on costs current at balance date for all employees with five or more completed years of service provides an estimate of the long service leave liability not materially different from the estimate determined using the present value basis of measurement. f) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the Statement of Financial Position are shown inclusive of GST. g) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet. - Page 60 -","NOTES TO AND FORMING PART OF THE ACCOUNTS THE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2023 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Note 1 - Statement of Significant Accounting Policies (cont.) h) Leases At inception of a contract, the Club assesses if the contract contains or is a lease. If there is a lease present, a right-of-use asset and a corresponding lease liability is recognised by the Club where the Club is a lessee. However, all contracts that are classified as short- term leases (i.e. a lease with a remaining lease term of 12 months or less) and leases of low-value assets are recognised as an operating expense on a straight-line basis over the term of the lease. Initially, the lease liability is measured at the present value of the lease payments still to be paid at commencement date. The lease payments are discounted at the interest rate implicit in the lease. If this rate cannot be readily determined, the Club uses the incremental borrowing rate. The right-of-use assets comprise the initial measurement of the corresponding lease liability, any lease payments made at or before the commencement date, as well as any initial direct costs. The subsequent measurement of the right-of-use assets is at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the lease term or useful life of the underlying asset, whichever is the shortest. Where a lease transfers ownership of the underlying asset, or the cost of the right-of-use asset reflects that the Club anticipates to exercise a purchase option, the specific asset is depreciated over the useful life of the underlying asset. i) Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year. Certain comparative figures have been restated where necessary to conform with current period presentation. - Page 61 -","TNHEOKOTOEYOSNGTAOGOALFNCDLUBFIONCRORMPOIRNATGEDPART OF THE ACCOUNTS For year ended 31 March 2023 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Note 2 - Special Events (Net) 2023 2022 $ $ This expense relates to the total net cost of hosting the Centenary celebration at Kooyonga (203,920) after accounting for the $250 ticket price per person to attend the event. (203,920) - Costs included the marquee structure, flooring, furniture, AV, band, F&B and staffing costs. The Club did not incur any costs related to Mr Gary Player\u2019s appearance - at the centenary celebrations. 8,350 Note 3 - Auditors' Remuneration 8,650 - - Remuneration of the auditor for: 8,350 - auditing or reviewing the financial report 8,650 - other accounting service 1,600 1,600 169,304 Note 4 - Cash and Equivalents 488,802 - Cash on hand - 170,904 Cash at bank 490,402 Short term deposits 225,282 279,501 - Note 5 - Trade and Other Receivables - 225,282 Trade receivables 279,501 Less: Provision for impairment of receivables 133,933 158,699 20,083 Note 6 - Inventories 20,694 228,631 316,917 Stock - Bar 12,939 3,816 Stock - Dining Room 386,463 Stock - Golf Shop 509,249 Stock - Miscellaneous 144,502 247,054 3,055 Note 7 - Other Current Assets 20,564 267,618 147,557 Prepayments Other Page 13 - Page 62 -","THE KOOYONGA GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACNCOOUNTTES S TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 For year ended 31 March 2023 Note 8 - Property, Plant and Equipment 2023 2022 $ $ Freehold land & buildings (at cost) Less: Accumulated depreciation 16,408,525 16,091,247 (4,082,457) (3,609,559) Course development (at cost) 12,326,068 12,481,688 Less: Accumulated depreciation 2,973,661 2,212,172 Watering equipment (at cost) (1,578,091) (1,485,318) Less: Accumulated depreciation 1,395,570 726,854 Course building, plant & equipment (at cost) 1,789,768 Less: Accumulated depreciation (1,485,380) 1,773,371 (1,439,324) Furniture, fittings & equipment (at cost) 304,388 Less: Accumulated depreciation 334,047 2,793,335 Golf Shop Equipment & Buggies (at cost) (2,079,481) 2,706,080 Less: Accumulated depreciation (1,958,930) 713,854 Right-of-use-asset 747,150 Less: Accumulated depreciation 3,432,394 (1,036,909) 2,995,357 Residential Property (Building) 2,395,485 (819,011) Less: Accumulated depreciation The residential land is recorded under freehold land totalling $2,484,379 399,259 2,176,346 Total property, plant and equipment (308,125) 400,169 91,134 (271,464) 128,705 373,463 (127,728) 350,320 245,735 (93,898) 256,422 720,159 (46,347) 720,159 673,812 (16,469) 703,690 18,146,046 17,554,902 Note 8(a) -Movement in Carrying Amounts Watering Course P&E & Furniture & Golf Shop Right of Use Residential Fittings Property Land & Buildings Course Develop Equip Buildings $ Equip Asset Total $$ $ $ $$ 2,176,346 $$ 476,643 17,554,902 Balance at beginning 12,481,688 726,855 334,047 747,150 (1,874) 128,704 256,422 703,689 1,813,123 of the year 331,678 847,294 16,397 87,254 (255,630) - 53,857 - (40,645) (2,760) (36,011) - - - - (1,181,334) Additions (484,538) (142,568) - (64,544) Disposals (46,056) (120,550) (37,570) (29,877) Depreciation expense Carrying amount at the 12,326,068 1,395,570 304,388 713,854 2,395,485 91,134 245,735 673,812 18,146,046 end of the year Page 14 - Page 63 -","NOTES TO AND FORMING PART OF THE ACCOUNTS THFEoKrOyOeYOaNrGeAnGdOLeFdCL3U1B IMNCaORrcPOhR2AT0ED23 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Note 9 - Capital Work in Progress 2023 2022 $ $ Maintenance Facility Masterplan Irrigation Masterplan 18,800 16,300 Practice Facility 35,900 28,700 On-Course Toilet 2,471,821 412,881 Other 15,494 - Note 10 - Trade and Other Payables 9,676 4,113 2,536,197 477,488 Current Trade payables 654,289 403,811 Sundry payables and accrued expenses 227,234 223,073 881,523 626,884 Note 11 - Subscriptions and other monies in advance 3,222,452 2,671,499 168,460 34,949 TSuHbEscKriOptOioYnOFeNeGs ApaGidOinLaFdCvaLnUceB INCORPORATED 22,871 25,384 Function Deposits including prepaid Green Fees - LIV Golf April 2023 NOtOhTerES TO AND FORMING PART OF THE ACCOUNTS 3,413,783 2,731,832 FOR THE YEAR ENDED 31 MARCH 2023 Annual Long Service Total Leave Leave Note 12 - Provisions Opening balance at 1 April 2022 255,073 221,837 476,910 Additional provisions 200,314 127,711 328,024 Taken during the year (121,164) (24,245) (145,408) Closing balance at 31 March 2023 334,223 325,303 659,526 Current: 2023 2022 Annual leave $ $ Long service leave 334,223 255,073 245,084 187,795 579,307 442,868 Non-current: 80,219 34,042 Long service leave Note 13 - Borrowings 2023 2022 $ $ Current: 500,000 2,445,000 CBA Bank Loan - Clubhouse Upgrade 1,282,333 67,860 CBA Bank Loan - Property Kooyonga Foundation Loan - 250,000 1,782,333 2,762,860 Non-current: 4,349,344 - CBA Bank Loan - Clubhouse Upgrade CBA Bank Loan - Property 1,710,001 2,992,334 6,059,345 2,992,334 a) Borrowings Page 16 The clubhouse bank debt has a facility limit of $6M as at 31st March 2023- Paangdeis6s4ec-ured by Registered Mortgages over the Club's freehold property. The facility was renewed in July 2022 for a 3 year period with a renewal date of 31st July 2025. The loan balance is represented as non-current liability aside","2023 2022 $ $ Current: NOTES TO AND FORMING PART OF334,223 THE ACCOUN215857T,,07S9735 Annual leave 245,084 Long service leave For year5e79n,3d07ed 31 March 240422,8368 Non-current: 80,219 34,042 Long service leave Note 13 - Borrowings 2023 2022 Current: $ $ CBA Bank Loan - Clubhouse Upgrade CBA Bank Loan - Property 500,000 2,445,000 Kooyonga Foundation Loan 1,282,333 67,860 - 250,000 1,782,333 2,762,860 Non-current: 4,349,344 - CBA Bank Loan - Clubhouse Upgrade CBA Bank Loan - Property 1,710,001 2,992,334 6,059,345 2,992,334 a) Borrowings The clubhouse bank debt has a facility limit of $6M as at 31st March 2023 and is secured by Registered Mortgages over the Club's freehold property. The facility was renewed in July 2022 for a 3 year period with a renewal date of 31st July 2025. The loan balance is represented as non-current liability aside from the principal repayment of $500,000 to be made on 31 March 2024 which is treated as a current liability. THE KOOYONGA GOLF CLUB INCORPORATED The property bank debt facility limit is $3.060M (split over two separate loans) as at 31st March 2023 secured by Registered Mortgages over the respective pNrOopTeErtSiesT.OOnAeNfaDciFlitOyR($M1.I2N3G9MP)AhRasTaOreFnTewHaEl dAaCteCoOf U18NtThSDecember 2023 at which time the loan terms will be renegotiated, and therefore must be rFeOprResTeHntEatYedEaAsRa EcuNrrDeEntDlia3b1iliMtyA. TRhCe Hoth2e0r2f3acility ($1.753M) has a renewal date of 17th January 2025 at which time the loan terms will be renegotiated. Note 14 - Statement of Cash Flows Reconciliation of cash flow from operations with operating surplus\/(deficit): Operating surplus\/(deficit) 94,831 332,329 Non-cash items in operating surplus\/(deficit) 1,180,624 1,181,170 Depreciation 40,645 1,245 (Profit)\/losses on sale of property, plant & equipment (26,463) Adjustment to Entrance Fees as a result of changes in accounting policy (109,133) (54,220) Changes in Assets and Liabilities Page 17 (120,061) 14,788 (Increase)\/Decrease in receivables (122,786) 8,089 (Increase)\/Decrease in other assets 681,951 (40,600) (Increase)\/Decrease in inventories 182,616 (48,960) Increase\/(Decrease) in other liabilities 254,639 66,803 Increase\/(Decrease) in provisions 2,111,776 (80,604) Increase\/(Decrease) in payables and accruals 1,325,127 Cash flow from operations Note 15 - Credit Standby Facilities A bank overdraft facility of $150,000 is available however at balance date no amount was drawn against this facility. The facility is secured by Registered Mortgages over the Club's freehold property. Note 16 - Remuneration of Committee Members No amounts were received or due and receivable from the Club by the Committee. - Page 65 -","Changes in Assets and Liabilities (Increase)\/Decrease in receivables (54,220) 14,788 (120,061) 8,089 (Increase)\/Decrease in other assets (122,786) (40,600) 681,951 (48,960) (Increase)\/Decrease in inventories PART OF THE ACCOUNTS 182,616 66,803 254,639 (80,604) NOTES TO AND FORMINGIncrease\/(Decrease) in other liabilities 2,111,776 1,325,127 ForIInnyccrreeeaaasseer\/\/((eDDneeccdrreeaaesseed)) iinn3pp1aroyvaMibsiloeasnsrancdhac2cru0al2s 3 Cash flow from operations Note 15 - Credit Standby Facilities A bank overdraft facility of $150,000 is available however at balance date no amount was drawn against this facility. The facility is secured by Registered TMHoErtgKagOeOs oYvOerNthGeAClGubO'sLfrFeeChLoUldBprIoNpCerOtyR. PORATED Note 16 - Remuneration of Committee Members NOTES TO AND FORMING PART OF THE ACCOUNTS FNOo RamToHunEtsYwEeAreRreEcNeivDeEdDor3d1ueMaAndRrCecHei2va0b2le3from the Club by the Committee. Note 17 - Financial Instruments a) Interest Rate Risk The Club's exposure to interest rate risk, which is the risk that a financial instrument's value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those financial assets and financial liabilities, is as follows: Weighted Floating Fixed Interest Rate Total Average Interest Rate Maturing Within Effective 1 Year Interest Rate 2023 2022 2023 2022 2023 2022 2023 2022 %% $ $ $ $ $ $ Financial Assets -- 488,802 169,304 - - 488,802 169,304 Cash at bank -- - - - - - - Short term deposits Total Financial Assets 488,802 169,304 - - 488,802 169,304 Financial Liabilities: 2.38 4,849,344 2,445,000 - - 4,849,344 2,445,000 CBA Bank Loan - Clubhouse Upgrade 6.60 2.38 2,992,334 3,060,194 - - 2,992,334 3,060,194 THECKKoBOoAOyBoYanOngkaNLFGooAaunnGd-OaPtLriooFpnCeLrLotUyanB INCORPORA5T.8E8D 1.50 - - - 250,000 - 250,000 - - 7,841,678 5,755,194 NOTEToStTalOFiAnNanDcFiaOlRLiMabINilGitiPesART OF THE ACCOUNTS 7,841P,6a7g8e 18 5,755,194 FOR THE YEAR ENDED 31 MARCH 2023 b) Credit Risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets is the carrying amount, net of any provisions for doubtful debts, as disclosed in the balance sheet and notes to the financial statements. The Club does not have any material credit risk exposure to any single debtor or group of debtors under financial instruments entered into by the Club. c) Net Fair Values The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the balance sheet and the notes to and forming part of the accounts. - Page 66 -","NOTES TO AND FORMING PART OF THE ACCOUNTS THE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2023 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Note 17 - Financial Instruments (cont.) d) Sensitivity Analysis The Club has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. The sensitivity analysis demonstrates the effect on the current year results and equity which could result from a change in these risks. As at 31 March 2023, the effect on profit and equity as a result of changes in the interest rate, with all other variables remaining constant would be as follows: Change in profit 2023 2022 - Increase in interest rate by 2% $ $ - Decrease in interest rate by 2% (147,058) (111,718) 147,058 111,718 Change in equity (147,058) (111,718) - Increase in interest rate by 2% 147,058 111,718 - Decrease in interest rate by 2% Note 18 - Leasing Commitments Lease commitments being for the lease of land and motorised carts payable: (11,884) 56,908 Payable \u2013 minimum lease payments: 162,724 170,226 - not later than one year 26,829 - later than one year but not less than five 177,669 34,119 - later than five years 261,253 Minimum lease payments 75,945 Less future finance charges 253,614 - Present value of minimum lease payments 261,253 Note 19 - Related Party Transactions (a) The following Committee members were in office during the 2022\/23 Financial Year Mr Crawford David Giles Mr Simon Tamke Mrs Zoee Dolling Mr Scott Duval (Appointed 29 Sept 2022) Mr Geoffrey Keith Brennan Mr David Fraterman (Resigned 20 July 2022) Mr Michael Sean Gilroy Mr Bevan O'Connor (Resigned 10 March 2023) Mrs Jill Trenorden Mr Geoff Kay (Resigned 17 April 2023) Mr Rowan Fielke (b) During the financial year, no members of the Committee have received directly or indirectly from the Club, other than mentioned in (c), any payments or other benefits of pecuniary value other than in the case of officers employed by the Club who received approved salaries which have been determined in accordance with general market conditions. (c) During the financial year, the Club purchased air-conditioning services from \u2018Specialist Air Management\u2019, a company controlled by Mr Michael Gilroy for $15,813.48. The Club purchased food produce from \u2018Thomas Foods\u2019, a company at which Mr Simon Tamke is a senior employee for $149,413.01. During the year the Club invited Partek Industries Pty Ltd to tender for the practice facility building project. Partek Industries Pty Ltd were subsequently awarded the contract to build the pavilion and golf academy extension, carpark and on course toilet on 15 July 2022 for a total cost of $2.181,960. During this period Mr David Fraterman was acting Chief Financial Officer of Partek and provided external accounting services to Partek on a part-time contract basis. Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties. Page 21 - Page 67 -","THNE OKOTOEYOSNGTAOGOALFNCDLUBFINOCRORMPOIRNATGEDPART OF THE ACCOUNTS For year ended 31 March 2023 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Note 20 - Contingent Liabilities There were no contingencies facing the Club as at 31 March 2023 that have not been brought to account in the financial statements. Note 21 - After Balance Date Events No significant after balance date events. Note 22 - Capital Management The Committee members control the capital of the Club in order to maintain a good debt-to-equity ratio and to ensure that the Club can fund its operations and continue as a going concern. The Club's debt and capital includes financial liabilities, supported by financial assets. There are no externally imposed capital requirements. The committee members effectively manage the Club's capital by assessing the Club's financial risks and adjusting its capital structure in response to changes in these risks and in the market. The responses include the management of debt levels. There have been no changes in the strategy adopted by management to control the capital of the Club since the prior year. This strategy is to ensure that there is sufficient cash to meet trade and sundry payables and borrowings. Note 23 - Club Details The principal place of business of the Club is: May Terrace Lockleys SA 5032 Page 22 - Page 68 -","THE KOOYONGA GOLF CLUB INCORPORATED STATEMENT BY THE COMMITTEE Statement by the Committee InItnhteheooppininioionn of thheeCCoommmmittiteteeoefothf ethCeluCbltuhbe tfhineanficniaalnrecpiaolrrteapsosertt aosutsoent poaugteosn26patoge4s1:51 to 68: 1 Presents fairly the financial position of the Club as at 31 March 2023 and it's performance for the year ended on that date in accordance with Australian Accounting Standards, mandatory professional reporting requirements and other authoritative pronouncements of the Australian Accounting Standards Board. 2 At the date of this statement, there are reasonable grounds to believe that the Club will be able to pay its debts as and when they fall due. 3 During the financial year ended 31 March 2023 no officer of the Club, firm of which any officer of the Club is a member or body corporate in which any officer of the Club has a substantial financial interest has received or become entitled to receive a benefit as a result of a contract between any officer, firm or body corporate and the Club, except for those disclosed in Note 19. 4 During the financial year ended 31 March 2023 no officer of the Club has received directly or indirectly from the Club any payment or other benefit of a pecuniary value, except for those disclosed in Note 19. 5 Under AASB 15, the Accounting Standard for revenue recognition, entrance fees received from all members must be recorded as a liability and recognised as revenue via an annual assessment of the remaining membership tenure of each member, calculated using the average tenure of our current membership base. This change in recognition has resulted in a $26,463 increase in entrance fee revenue reported for the 2022\/23 financial year. Committee is of the view that the entrance fee revenue reported as $297,635 in the cashflow statement provides more useful information to the users of the Financial Statements. This statement is made in accordance with a resolution of the Committee and is signed for and on behalf of the Committee by: CD Giles Z Dolling Captain Chair - Finance, Audit, Risk & Governance Dated at Lockleys, SA on the 25th day of May 2023 Dated at Lockleys, SA on the 29th day of May 2023 Page 23 - Page 69 -","Independent Audit Report to the members Bentleys SA Audit Partnership of Kooyonga Golf Club Inc. Level 5 63 Pirie Street Adelaide SA 5000 GPO Box 939 Adelaide SA 5001 ABN 43 877 091 903 T +61 8 8372 7900 F +61 8 8372 7999 [email protected] bentleys.com.au Opinion We have audited the financial report of Kooyonga Golf Club Inc, being a general purpose financial report which comprises the statement of financial position as at 31 March 2023, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year ended on that date, accompanying notes to the financial statements and the statement by the board of management. In our opinion, the financial report of Kooyonga Golf Club Inc. presents fairly, in accordance with Australian Accounting Standards, the Association Incorporations Act 1985 (SA) and other mandatory professional reporting requirements in Australia, the financial position of Kooyonga Golf Club Inc. and the entity as at 31 March 2023 and the results of their operations and cash flows for the financial year then ended. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor\u2019s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Club in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board\u2019s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. A member of Bentleys, a network of independent advisory and accounting firms located throughout Australia, New Zealand and China that trade as Bentleys. All members of the Bentleys Network are affiliated only, are separate legal entities and not in partnership. Liability limited by a scheme approved under Professional Standards Legislation. A member of Allinial Global \u2013 an association of independent accounting and consulting firms. Professional Standards Legislation.","Committee's responsibility for the financial report The Committee of the Club is responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Association Incorporations Act 1985 (SA). This responsibility includes establishing 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 preparing the financial report, management is responsible for assessing the Club\u2019s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Club or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Club\u2019s financial reporting process. Auditor\u2019s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor\u2019s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http:\/\/www.auasb.gov.au\/Home.aspx. This description forms part of our auditor\u2019s report. Bentleys SA Audit Partnership David Papa PARTNER Dated this 29th day of May 2023","FIVE YEAR SUMMARY Membership 2019 2020 2021 2022 2023 2024 Category One Category Two 518 524 532 509 512 4,782 Honorary Social Members 323 324 304 309 316 478 Other Member Categories 186 184 175 172 154 Total Members 475 465 479 495 497 $5,260 1,502 1,497 1,490 1,485 1,479 Category One Fee (excl. levies) Add GST 3,590 3,770 3,959 4,256 4,511 Total 359 377 396 426 451 Income $3,949 $4,147 $4,355 $4,682 $4,962 Membership Subscriptions Hospitality Net $,000 $,000 $,000 $,000 $,000 Golf Net Property Net 3,195 3,322 3,419 3,713 3,893 Other (41) (134) (199) (102) (71) Government Subsidies 266 486 Total - 319 88 463 91 - (5) (23) (102) Less Overheads - (227) 54 Course 112 776 97 36 Administration 3,511 - 3,852 41 Clubhouse 4,189 4,296 Interest Other 1,377 3,619 1,480 Total Overheads 943 856 1,515 1,694 379 1,360 361 1,042 1,161 Depreciation 29 968 107 327 398 429 Operating Surplus\/(Deficit) 2,728 33 2,804 134 246 Add Entrance Fees 3,089 3,530 Kooyonga Foundation Distribution 912 2,688 1,035 State & National Golf Events 1,167 1,151 (89) 892 13 Total Surplus\/Deficit 290 367 (67) (385) 39 338 324 40 220 33 360 (13) (23) 61 - - (204) 228 (12) 390 332 95 247 - Page 72 -","FOUNDATION The Kooyonga Foundation Annual Report 2022 - 2023","THE KOOYONGA FOUNDATION INC. Annual Report In my first year as Chair of The Foundation Committee, I would like to prelude this report by thanking all members who have supported the Foundation which has resulted in another very successful fundraising year. The support does not go unrecognised and extends to those who contributed directly to our project funds and those who attended and supported our various fundraising events. The Foundation Committee this year consisted of Mr We are especially appreciative of James Thredgold\u2019s support Ross Dillon (Chairman), Mr Gary Chenoweth, Mrs Megan as the Naming Rights Sponsor. The ongoing success of Thredgold, Mrs Melissa Emmett, Mr Ian Sargent, Dr Peter both The Lottery and The Golf Day is a tribute to the skilled Robinson, Mr David McKee and ex officio Club Captain organisation and commitment of Ian Sargent and Amanda Mr Crawford Giles. General Manager Mr Brett Lewis and Sewell. Marketing and Communications Manager Amanda Sewell The outstanding new practice facilities were officially attending meetings and provided valuable input. During opened on Tuesday 9 May 2023 for the benefit of Kooyonga the year the Committee held 4 Meetings and I thank all members and visitors for decades to come. Within object mentioned for their commitment and generosity to our Golf 2.3 of Foundation guidelines, \u201c to promote and support Club. the continued excellence of The Kooyonga Golf Club ,\u201d The At the June 2022 Annual Meeting, it was resolved by a Foundation has contributed $345k toward the practice vote of Foundation members to transfer $100k to a newly facilities and $15k for the toilets on the 5th with the project created Capital Fund for the purpose of creating a base registered with the Australian Sports Foundation. for longer term investment. The Minutes of the Sixteenth The Works of Art and Heritage Project Fund has again Annual General Meeting of The Kooyonga Foundation been generously supported by philanthropic members. To Incorporated held on Thursday 23 June 2022 were coincide with Kooyonga\u2019s memorable centenary dinner, approved and signed by The Chairman at the Committee The Foundation commissioned the portrait painting of our meeting held on Wednesday\u00a0 31 August 2022. highest credentialed golfer and first Kooyonga Professional, Thank you to those Club members who have generously Mr Rufus Stewart to present to The Club. The painting is a supported The Foundation via donations through the annual credit to the artist Tsering Hannaford and is on display in the membership subscription notice, direct donations to one Member\u2019s Bar. of our project funds or by being involved in our fundraising In addition to our annual fundraising initiatives, this year we events\/initiatives. During the year a Champion level was also supported the Centenary celebrations by hosting the added to the Wall of Honour as two members reached $50k \u2018Kooyonga Foundation Dinner with Mr Gary Player\u2019 held on in donations. We thank all members who contribute to our Thursday 16 March. Mr Player spoke about his career and growing list of supporters (please view our Wall of Honour personal life spanning over 87 years and guests received on the following pages). some special gifts including a set of Gary Player signature Our fundraising results during the year have again been engraved wine glasses and a Gary Player signature hat. outstanding, raising $19,748 in the 2022 Foundation The night was a huge success with those in attendance lottery and a record $57,156 in the 2022 James Thredgold providing terrific feedback on this once in a lifetime event. Jeweller Kooyonga Foundation Golf Day. The golf day The Foundation is very proud to have supported such an is an integral part of our fundraising initiatives and The important event within the Club\u2019s centenary social calendar. Foundation Committee sincerely thanks all the sponsors, donors, volunteers and participants for their involvement. - Page 74 -","OUR VISION DEVELOP PROMOTE ASSIST DEVELOP selected facilities for the benefit of all members PROMOTE junior development for our Club\u2019s future golfers ASSIST club representation for our elite golfers Since The Foundation was formed, total funds raised by it to assist our Club is in excess of $1.4m. Donations through The Australian Sports Foundation are tax deductible for registered Projects of The Kooyonga Foundation and the current registered projects include; \u2022\t The Kooyonga Foundation Capital Fund \u2022\t The Kooyonga Foundation Works of Art and Heritage Fund \u2022\t The original Kooyonga Foundation Project Fund to support junior and elite golfer coaching and competition expenses In addition to donating via The Australian Sports Foundation, all members are encouraged to consider leaving a bequest to The Foundation to commemorate their years of enjoyment at our Golf Club. Bequests and specific donations can be directed by the donor to support any of the currently listed Projects. In conclusion, I would like to thank the immediate Past Chairman of The Foundation, Dr Walford Thyer for his outstanding commitment to our Club on Committee and as past Club Captain, his ten year tenure as Foundation Chairman and as a significant donor to our Foundation. In this, our centenary year, on behalf of The Foundation Committee, I thank members for your support. Ross Dillon Chairman, The Kooyonga Foundation Incorporated","THE KOOYONGA FOUNDATION Our Leaders ($100K and above) Our Friends ($1K and above) Crawford Giles Gary Allison Wayne Jackson John Bishop Maurice Klemich* Our Champions ($50K and above) Richard Blandy^ Grant & Helen^ Laidlaw Kathy Booth Keith* & Alison Lewis David McKee Quentin Brown Jan & Gary Marriott Walford & Sue Thyer Tony Carrig* Kay Miki Gary Chenoweth Tossie Nitschke Our Advocates ($25K and above) Karen Chenoweth Peter Noblet John Clayton^ Rex Pearlman Ross Dillon Andrew Cohen Jeff Rogers David & Patricia Cosh Don Rutherford* Gerald* & Sue Cox^ Bill Rymill^ Judy Crafter Kym Sawers Grant Crowhurst Bardie Simpson^ Zoe Daw* Bruce Spangler^ Bill Dawson Jim Sweeney^ Robert Day Darren Thomas Pam Dixon Shirley Uhrig^ Roger Drake Mark Wood Colin Dunsford AM\t Our Supporters ($10K and above) John Easling Linda Ferris John & Merrilyn^ Garrett Trish Fricker* Angas Hains William Frogley* Grahame Moore Damian Gallagher Peter & Sandy Robinson Roma Grant* Ian Sargent Gail Hamilton Ann Saunders* Peter Hewitt^ Dean* & Margaret Southwood Mark Irwin Our Partners ($5K and above) Ken & Joan Babidge^ Michael Gilroy Bruce Bavistock* Bill & Yvonne Johnson Di & Frank Bamford Peter Leaney* Tim Cooper Grant Raymond Brian Fricker* Terry & Anne Sullivan Gower Family Pauline Sanderson Stephen & Gill Hicks The Foundation takes this opportunity to say...","MEMBER WALL OF HONOUR Our Members ($100 and above) Colin Alexander\t John Elliott Tony Hobby Keith Middleton\t Ryan Sparrow Deb Alexander Melissa Emmett\t Richard Hockney Kym Millard Ben Speirs John Anderson Ann Ewer John Holyoak Suzanne Moffatt\t John Speirs Richard Anderson\t James Ferguson Kym Horsell Harry Moore Andrew Spencer Terry Anderson Rowan Fielke Peter Hunt Thomas Moore Luke Steele\t Graham Ascough Angela Fleming James Jarrett Timothy Moore\t Lynn Stewart Ian Badger Richard Fleming\t Skye Jarvis Alex Morkunas Pam Stewart\t Abbey Baker Christine Flynn Greg Jaunay Daniel Mosler\t John Sulan\t Ken Ballantyne \t Emma Fraser\t Lyn Jaunay Melissa Nelligan Anne Sved Williams Dennis Basheer John Frogley\t Ross Johnson\t Alex Nemer John Swift Nancy Bassett\t Merry Frogley\t Peter Johnston\t Mark Nicholls John Symons Elizabeth Beckwith Sue Fuller Bill Jolley\t Michael Nugent\t Simon Tamke Peter Beckwith John Gallard Joan Jones Steve Officer Jack Thomas Alistair Begg David Garrett Robert Jones\t Simon O\u2019Loughlin Ned Thomas Panayot Boyaci Allan Gilbert Geoff Kay Helen Papas Julie Thompson Geoff Brennan Heather Gilbert \t Yoko Kishimoto\t Graham Parker Tony Timmins Bob Brooke Michael Gilchrist David Klingberg Francis Parnis\t Bob Townsend\t Libby Broomhead Emily Giotis Andre Klomp Craig Parsonage Jillian Trenorden Anne Brown Mark Goddard Peter Koukourou Kevin Patterson Mitch Trenorden Donald Brown Geordie Golding\t Kathryn Kruys\t Cameron Pearce Neil Tuckwell Jennifer Brown\t Thomas Gray Theo Kruys\t Paige Perkins Kerrie Van Dissel\t Ros Brown Helen Greenslade Andrew Kuliwaba Louise Pittman Con Vanco Barbara Burnet David Greig Adrian Lacey\t Keith Plummer\t Peter Vaughton Simon Burnet\t Hugh Greville Virginia Lacey Peter Priest Craig Vinall Terry Burns\t Christine Gun Chris Langton\t Allan Pring Graham Walch\t Stephen Carapetis Nicholas Haan\t Dennis Laundy Nicholas Pyne Penny Wark\t Tim Carracher\t Colin Hackett Wing Li\t Deane Rady Ian Watson AM Judith Carrig Thomas Hales\t Simon Lovering Arthur Raftopoulos Wayne Weidemann Tony Carrocci David Hall Sandra Lunn Jeff Ramsey Georgie White Simon Chappel Alan Hambly\t David Lutterus Mark Rankmore Thomas Wightman Ian Charlton\t John Hamilton\t Susan Lutterus Michael Raphael\t Connor Williams Chai Ching Mary Hammer\t Paul Lynch Judith Roberts Tony Williams Alan Chugg Sally Hammer Alastair Maclennan Geoff Robertson Margie Wilson\t Barbara Clapp\t Jaime Hards David Mann Adam Rogers Allan Winter Dean Clayton Will Hards Wendy Mann\t David Rogers Patrick Winter Chris Codling Hugh Harley Jude Marlow Wendy Rorrison\t Rachel Winter\t Vicki Colling\t James Harley Anne Marshall David Rowe\t Ian Wong\t Ben Corso Jo Harley\t Peter Marshall Ken Russell Richard Wood\t David Craddock John Harvey Peter Martens Chris Ryan Timothy Wood Ken Daunt Ross Haslam\t Craig Mason Don Sarah AM David Worthley Harry Davison Jim Hazel Andrew Mattner James Sarah\t Anna Wyett Mat Dawson Elizabeth Heath\t David Mattner \t Neil & Sally Sarah Meredith Wyles Bill DeGaris Geoffrey Heithersay Greg May James Sargent George Yatzis John Denton Scott Henchliffe Robert McCabe Jonathon Semmler\t Jane Young\t Phillip Desteno Henry Heuzenroeder John McEntee\t Tim Sennett Robert Young\t\t Doug Dick Samuel Hicks Jack McKean John Sharpe \t\t\t Zoee Dolling Tony Higginbottom Marg McLeay Anthony Smith \t\t\t Jarrod Eckermann\t Alan Hill David Meegan Duncan Soang \t\t\t Helen Egar Justin Hinora John Meijer\t Ian Southwood \t\t\t *Deceased ^Past Member \u2018Thank you\u2019","","The Kooyonga FoundationTHInEc.KAOnOnuYaOlNRGepAoFrtOUNDATION INC. Statement of Income & Expenditure (for year ended 31 March 2023) Statement of Income and Expenditure for the Year Ending 31st March 2023 2023 2022 $ $ Balance 1st April 470,459 287,815 Income: # Note 1 57,156 57,190 Kooyonga Foundation Golf Day 25,719 22,680 Annual Lottery and Other Fundraising Proceeds on Sale of Honour Boards 19,626 2,890 Ladies Dinner Fundraising 102,501 Members Donations Received 173,440 Interest Received 3,750 259,950 Expenditure: - 61,655 Grant to KGC for Art and Heritage Projects 345,000 - Grant to KGC for Practice Facilities - Grant to KGC for Toilet Facilities 15,000 Heritage Expenditure 850 40 Coaching Fees 450 3,224 Expenses for Elite Competitions 5,485 Lottery and Raffle Prizes 11,471 2,100 High Performance Squad Training Grants 3,306 3,000 PGA Trainee Grants 3,675 Presentation Evening Costs 3,000 782 Annual Lottery and Auction Costs 1,010 Bank Fees 8 382,760 10 77,306 Balance as at 31st March 2023 190,200 470,459 Statement of Assets & Liabilities as at 31 March 2023 Loan Kooyonga Golf Club 203,337 250,000 Commonwealth Bank Balance 25,935 216,709 Debtor - Australian Sports Foundation Debtor - Kooyonga Golf Club (39,072) 3,750 Creditor - Kooyonga Golf Club - Balance to Statement above 190,200 470,459 Note 1. During the 2023 year the Foundation paid certain appearance fees in respect to the Centenary celebrations. These appearance fees have been fully funded by donations specifically received by the Foundation in payment of these appearance fees, such that there has been no net cost to the Foundation for the fees paid. Due to confidentiality agreements with the persons involved, the appearance fees paid and the donantions received in respect to these fees, have been netted off in these financial statements so that neither the donations received nor the outgoings have been disclosed in these accounts. - Page 79 -","THE KOOYONGA FOUNDATION INC. Annual Report Independent Auditor\u2019s Report to the Members of the Kooyonga Foundation Incorporated Report on the Financial Report I have audited the accompanying special purpose financial report of Kooyonga Foundation Incorporated (the Foundation), which comprises the statement of financial assets and liabilities as at the 31st March 2023 and the statement of income and expenditure for the year ended 31st March 2023. Committee\u2019s responsibility for the financial report The committee of the Foundation are responsible for the preparation of the financial report that represents fairly the activities of the Foundation. The committee\u2019s responsibility also includes such internal controls as the committee determines necessary to enable the preparation of the financial report that is fairly presented and is free from material misstatement whether due to fraud or error. Auditor\u2019s responsibility My responsibility is to express an opinion on the financial report based upon my audit. I conducted my audit in accordance with Australian Auditing Standards and in a manner that required me to comply with relevant ethical requirements relating to audit engagements, and planned and performed the audit to obtain reasonable assurance whether the financial report is free from material misstatement. This report is a special purpose report and is limited in scope as outlined herein. No opinion is expressed as to whether the accounting policies or standards used are appropriate to meet the needs of the members. I disclaim any assumption of responsibility for any reliance on this report or on the financial report to which it relates, to any person other than to the members, or for any purpose other than for which it was prepared. I performed procedures to assess whether in all material respects the financial report presents fairly a view which is consistent with my understanding of the Foundations financial position and rules of incorporation. Audit opinion In my opinion, taking into account the effect of Note 1, the financial report of the Foundation presents fairly, in all material respects, the financial position of the Foundation as at 31st March 2023 and the results for the year then ended. The effects of Note 1 represent a deviation from Australian Accounting Standards and as such my opinion is qualified to that extent only. Dated: 23rd May 2023 Gregory A Hayes 12 Poralka Crescent Hallett Cove SA 5158 - Page 80 -","Kooyonga Golf Club The opening of the full 18 holes by His Ex Sir Tom Bridges 30 June 1924","The Kooyonga Golf Club Inc May Terrace, Lockleys PO Box 119, Brooklyn Park SA 5032 t 08 8352 5444 [email protected] www.kooyongagolf.com.au"]
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