Levin Club Inc. | AGM Book 2018

Confidential – For members only

Levin Club

(Incorporated)

Report and Statement of Accounts for

The Year Ended 30^th June 2018

 

OFFICERS 2017/2018

PATRON:                    L Mackay

PRESIDENT:             B Love

VICE PRESIDENT:  R Campbell

COMMITTEE:            A Jenson, I McKenzie, S Morath, J O’Brien, D Renner,    

 

LIFE MEMBERS: R Campbell, A Jenson, B Love, J Lyons, P Moody, L Sparrow, L Symonds, M Tuhan

 

Notice of Annual General Meeting

The 107th Annual General Meeting of the Levin Club Incorporated will be held in The Club at 2 pm on Sunday, 23^rd September 2018.

 

AGENDA

1.           Apologies
2.           Obituaries: - Rae Clareburt, Evan Gibbs, Spiller Taylor   
3.           Confirmation of the minutes of the Annual General Meeting Held on 24th September 2017
4.           To receive and adopt the President’s Report
5.           To receive and adopt the Report and Accounts for the financial Year ended 30^th June 2018
6.           To set the rate of subscriptions for the Subscription year ending 30^th September 2019
7.           To elect a Patron  
8.           To elect the required number of Committee members
9.           To elect a Board of Appeal
10. To elect an Auditor
11. General Business                         

                                                                     D. d’Auriol (Secretary)

                                                                             31^st August 2018

 

Presidents Report 2018

 

 

2018 Levin club, still the best possible place in town to get a drink and meal. Staff are great, patrons are friendly & sociable.

 

How are we doing?  As a Committee, we are voted into a position of being asked to lead the Club into the future. I hope we have been making the right decisions, please let us know if you think we are doing it all wrong.

 

Hopefully by the time you are reading this, we will have a signed contract with OPS Catering to lease the kitchen and front room on a share basis. This is for a 3+3 period with annual rent reviews. To achieve this we have invested in new and second hand appliances to set up a new kitchen out the front. The funding for this has been by an overdraft from the bank, the usual people that help, donate and just seem to make stuff appear and get done. Also some very generous donations from Plumbing World and the local Plumbers. This we believe will be a good asset to the Club in the future, so watch this space.

 

We had a good financial year, which has just ended. For the second time in 3 years we have managed to make a profit. We have had a very good turnaround from last year, but I think we can only breathe a little easier if we can do it 2 years in a row. Let’s see what we can do!

 

On behalf of the committee, I would like to thank all out staff but in particular Tina & Dianne as they have once again worked hard to meet all our demands. To Lindsay, our Patron, to the seemingly invisible people who help in lots of ways but don’t get acknowledged, Thank You. To the Committee, well done to you all and finally to all you Club Members, a lot we see regularly, some not so regular, we cannot be the great place we are without you all.

 

Our friends, mates, loved ones who have passed away in the last year, they will be missed.

 

Once again, thank you for having faith in what we are about – a great place full of great people – keep believing  

 

Bruce Love

President

 

 

MINUTES OF THE LEVIN CLUB (INC) 106^th ANNUAL GENERAL MEETING

HELD 2.00PM SUNDAY 24^TH SEPTEMBER 2017

 

In Attendance

Dixie Millington, Wayne Millington, Ian McKenzie, Les Symonds, Philip Stirrat, Tony Ferrige, Elaine Ferrige, John Lyons, Noelene Lyons, Dianne d’Auriol, Ian Renner, Ros Renner, Gemma Goss, Max Tuhan, Amber Knight, Yvonne Smith, Russell Smith, Ross Campbell, Bruce Love, Peter Crowther, Davis Ryder, Leann Dewar, Pat Griffen, Tina Martin, Andrew d’Auriol, Alan Jenson, Phil Hanson, Paul McIntyre, Sarah McIntyre, Jean Hudson, Jean Hudson, John Shearman, Lyn Shearman, Lindsay Mackay, Gary O’Brien, Pam Hodges, Myrtle Jansson, Christine Donovan   

B Love declared the 106^th meeting open and thanked everyone for their attendance.

1. Apologies

Terry Taylor, Adrienne Taylor, Yvonne Symonds, Sandra McKenzie, Richard Rushton, Hayley D’Auriol. Kimberly d’Auriol, Christine Gatchell, Tin Hunt, Sue Jenson, Neville Pollock, Shaun Morath, Julie Morath, Megan Love, Amy Love, Daniel Love, Robyn Love, Trevor Couper, Lindsay Sparrow

Moved that apologies be sustained         (J Lyons/A d’Auriol carried)

2. Obituaries

Those in attendance stood while the President read the names of members who have passed away since the previous AGM; Paul Devery, Stan Goston, Dave Jack, Craig Martin, Graham Smellie

The meeting observed a period of silence in remembrance of all deceased members.

3. Minutes of the 2016 AGM

These minutes of 25^th September 2016 and printed in the Annual Report, were taken as read.

Moved that the minutes of the 2016 Annual General Meeting be confirmed as a true and correct record                  (B Love/Y Smith carried)

There were no matters arising.

4. Presidents Report

The President B Love read his report.

Moved that the Presidents Annual Report be received and adopted.  

                                                                             (B Love/I Renner carried)

5. Financial Report

Ross Campbell presented the 2017 financial report to the meeting, Ross informed the meeting that there had been a turnaround in the last months and that it was due to the opening of the front. The gaming is down on previous years.

Moved that the Annual Financial Report be received and adopted                                                                                    (J Lyons/N Lyons carried)

6. Subscriptions and Membership

The current membership is set until 30^th September 2018.

The committee Moved that subscriptions for the year to 30 Sept 2018 be set at the same rate as applied for the Year 30 Sept 2016-2017.        

Michael Hill said that he feels that the subs should go up by $5.00 per person across the board. He said that other Clubs are asking for donations and he feels that $5.00 from each member is would help the bottom line.               

Michael Hill Moved that subscriptions for the year to 30 Sept 2018 be set at $5.00 more per person for the Year 30 Sept 2017-2018.     

There was a vote by hands and majority said yes

7. Election of Patron

Nominations

Lindsay MacKay                                                       R Sutherland/N Pearson   

There being no other nominations the nominee was declared elected (Carried by Acclamation)

Bruce acknowledged Lindsay. Lindsay thanked the Club but would like to see an election next year for the position of Patron.

8. Election of President

Nominations are:

Bruce love                                                                  R Campbell/D d’Auriol

There being no other nominations the nominee was declared elected (Carried by Acclamation)

9. Election of Vice President

Nominations are

Ross Campbell                                                           B Love/D d’Auriol

There being no other nominations the nominee was declared elected (Carried by Acclamation)

10. Election of Management Committee

Bruce thanked Dylan Renner & Jacob O’Brien for their work for the last year.

Nominations are:

Dylan Renner                                                              P McIntyre/D d’Auriol

Jacob O’Brien                                                              T Martin/D d’Auriol

There being no other nominations the nominee’s was declared elected   (Carried by Acclamation)

11. Board of Appeal

Nominations are:

Russell Smith                                                              R Sutherland/R Clareburt

Max Tuhan                                                                  R Smith/R Sutherland

Lindsay Sparrow                                                        R Sutherland/ M Tuhan    

Roy Sutherland                                                          R Smith/M Tuhan

Michael Hill                                                                 R Sutherland/ R Smith

There being no other nominations the nominee’s was declared elected (Carried by Acclamation)

12. Auditor

The President proposed Fluker Denton as the Club Auditor

Moved that Fluker Denton & Co be appointed Club Auditor for the Y/E 30 June 2018         (carried)

13. Life Members

Nominations are       

Bruce Love                                                                 J O’Brien/J Hoskins

Ross Campbell                                                          M Tuhan/T Taylor

Max Tuhan                                                                 J O’Brien/S Jenson

The three nominees were asked to leave the room.

 Lindsay Mackay on behalf of Max Tuhan & Terry Taylor spoke about Ross Campbell and his long time membership and what he has done for the Club, Committee Member, and Vice President.

Jacob O’Brien spoke about Max Tuhan and the time he has given to the Club as a Member and Committee member and what he continues to give.

Jacob O’Brien spoke about Bruce and that he has given life to the Club for what he has done & continues to do as a Committee Member and as President. Ian Renner asked if it cheapens the Life Membership – due to so many people getting nominated. Michael Hill said that we should celebrate and acknowledge them whilst they are here. Gary O’Brien said we should acknowledge them now while we can.

There was a vote by show of hands and Ross Campbell, Max Tuhan and Bruce Love were elected as Life Members.

14. General Business

Van -Max Tuhan thanked Bruce for his softly hard hitting report, Max said that the van needs to be used for more than a gold coin, and you can’t get a taxi to leave a rank for a gold coin. Bruce thanked Max for what he does. Bruce said we need to be trying to run it to 1am as we have had a trial at doing it to 10-11, but we really need to do it to 1am We need to look at ways to get more to drive it. Ian Renner asked if people who use it could take a turn to drive it- Tina said they don’t like having a night off drinking. Max said he is not sure if everyone is aware that we pick them up as well.

Lyn Shearman asked if the drivers are compensated. Lyn said she is happy to get a list of members and ring them to see if they were willing to drive one night. Chrissie Donovan said she would be keen to drive but does not want the responsibility. Phil Hansen asked if there was a requirement use the van as he would be happy to do it but to use his car.

Phil Hansen acknowledged what the guys in the Club had done as far as the front room; Phil said that whist there was no cost to the Club there was a cost to the people who did it for the materials as in the wood etc.

Phil said that Crash needs to be acknowledged for donating the $1100.00 he won in the membership draw back to the Club.

Bruce said that after doing the front that we need to do something in here and to keep up with front, that we need thoughts on what to do with it. He has the plans to look at for the Club. Bruce said to talk to us & let us know what you would like.

We have in the future the earthquake building in years to come and that is going to cost a lot.

Noelene Lyons asked on behalf of the older members, can the Wednesday draw be done at 7pm promptly so the older members can get home before it gets too cold.

John Lyons has asked about doing a fundraiser evening for a defibrillator – the Committee has discussed this and it’s a matter of getting an evening free.  Lindsay Mackay said that as long as it was accessible to the public you could get a grant from a trust- need to look for applications.

Ian Renner asked if many of the people that joined on the open day are coming in- there is a good amount of them coming in. We have continued to have people coming in from the cossie and other Clubs.

New member’s night – Lindsay feels that it is essential to have one to tell peoples the rules.

Design of premises – we should we be looking at a brewery contribution. Tins explained they don’t do those anymore.

Accessibility of organisations for regular meetings -Bruce said we need to attract people in during the day when we are quiet.

We are going to let motels know about us to get out of town guests in.

Bruce thanked people for coming today, it’s the same people. We need to get it out there for more bums on seats.

Once again thanks for coming – good afternoon

Meeting closed 2.50pm

 

 

 

 

 

Database made up of                                     3 Deceased                                            5 Employees                       16 Life Members and Spouses                 81 Senior Members and Spouses               40 Country Members and Spouses             783Ordinary Members and Spouses

Membership 2018

 

Membership in Database at 30 June 2018            1176

Resigned                                        8

Lapsed (Did not pay membership)         240   248

Paid Members                                 928

Employees                                          5

Life members                                   16                                                     

 

 

 

Statement of Service Performance
LEVIN CLUB INC
For the year ended 30 June 2018
Statement of Service Performance
Description of Entity's Outcomes
Mission: Providing a chartered club for the people of Levin. Outcome: To provide a chartered club for the Levin Area including function centre, bar and pokie machines.
Description and Quantification of the Entity's Outputs
1. Provided a function centre for the club members, including pokie machines, bar and other entertainment.
Account							2017
Description and Quantification of the Entity's Outputs
Number of Members							799
Number of Functions Held							28
Trading Account - Bar
LEVIN CLUB INC
For the year ended 30 June 2018
		Account	2018		2017
Bar Trading
		Revenue
		Bar Sales	482,521		333,842
		Total Revenue	482,521		333,842
		Less Cost of Goods Sold
		Opening Stock - Bar	15,763		15,024
		Opening Stock - Mixers, Chips etc	4,030		4,130
		Purchases Liquor	175,911		119,443
		Purchases Mixers, Chips etc	30,889		27,173
		Closing Stock - Bar	(15,217)		(15,763)
		Closing Stock - Mixers, Chips etc	(3,723)		(4,030)
		Total Less Cost of Goods Sold	207,653		145,977
		Less Direct Costs
		Bar Interest	15		0
		Bar Repairs and Maintenance	10,249		8,603
		Bar Sundries	5,549		3,976
		Bar Wages	76,495		68,029
		Meal Allowances	4,419		4,906
		Total Less Direct Costs	96,728		85,513
		Total Bar Trading	178,140		102,351
		Gross Profit Margin (%)	37		31
Trading Account - Gaming
LEVIN CLUB INC
For the year ended 30 June 2018
	Account			2018		2017
Gaming Account
	Gaming Revenue
	Gaming Machine Revenue			106,279		117,811
	Total Gaming Revenue			106,279		117,811
	Less Expenses
	Gaming Duty			24,325		27,560
	Depreciation			6,999		6,494
	Gaming Insurance			1,705		1,636
	Gaming Interest			3,882		4,041
	Gaming Licence Fees, Levies & Monitoring			17,360		17,236
	Power			4,984		3,733
	Gaming Repairs & Maintenance			1,740		2,933
	Total Less Expenses			60,996		63,633
	Total Gaming Account			45,282		54,178
	Gross Profit Margin (%)			43		46

 

Statement of Profit or Loss
LEVIN CLUB INC
For the year ended 30 June 2018
	Account	Notes	2018	2017
Trading Income
	Net Profit from Bar Trading		178,140	102,351
	Net Profit from Gaming		45,282	54,178
Total Trading Income			223,422	156,529
	Gross Profit		223,422	156,529
Other Income
	Catering Reimbursements		602	0
	Clubs NZ Rebate		0	480
	Interest Received		1	24
	Raffles		32,038	29,530
	Rent Received		5,100	10,983
	Subscriptions		39,971	30,403
	Ticket Sales - (Bathurst Day)		3,251	0
	Toy Machine		232	161
	Van Income		1,591	0
Total Other Income			82,787	71,581
	Total Income		306,209	228,110
Expenses
	Social Expenses
	Entertainment		36,324	34,513
	Hospitality		3,352	1,990
	Membership Draws		11,100	9,900
	Newspapers, Race books & Cards		0	343
	Raffle Prizes		21,962	15,323
	Sky TV		9,797	9,620
	Total Social Expenses		82,534	71,690
	ACC Levies		1,297	1,605
	Accountancy Fees		4,286	4,746
	Advertising		1,870	875
	Audit Fees		3,987	3,750
	Bank Fees		3,705	1,875
	Cleaning & Laundry Materials		8,217	6,407
	Computer Support - Till System		2,288	3,100
	Depreciation - Bar		13,027	13,454
	Electricity & Gas		9,386	10,503
	Equipment Hire		2,584	2,290
	Fire Service Alarm Monitoring		1,436	931
	General Expenses		462	484
	Insurance		8,038	7,696
	Interest		4,415	4,563
	Interest - IRD		145	0
	Licencing Fees		5,519	5,286
	Motor Vehicle Expenses		3,035	2,707
	Postage, Printing & Stationery		5,206	4,199
	Rates		5,919	5,820
	Repairs and Maintenance		2,318	1,142
	Rubbish Removal		2,024	2,170
	Security Expenses		2,818	2,461
	Staff Training & Welfare		474	278
	Subscription - NZCC		2,619	0
	Telephone &Tolls		2,515	2,440
	Wages - Cleaning		14,802	13,819
	Wages - Managers		49,320	47,105
	Wages - Secretarial		22,675	22,529
	Wages - Security		23,329	23,178
	Xero Fees		252	252
Total Expenses			290,499	267,356
	Operating Profit before Tax		15,710	(39,246)
Taxation and Adjustments
	Income Tax Expense		0	1,240
Total Taxation and Adjustments			0	1,240
	Net Profit (Loss) for the Year		15,710	(40,486)

 

 

 

Balance Sheet
LEVIN CLUB INC
As at 30 June 2018
		Account		Notes	30 Jun 2018		30 Jun 2017
Assets
	Current Assets
		Cash and Bank
		BNZ - 04 Account			665		139
		BNZ - 26 Account			118		0
		BNZ - Bar Trading Account			18,715		9,372
		BNZ - Savings Account			742		16
		Unpresented Deposit			10,137		3,113
		Cash Imprest - Bar Trading			12,100		12,100
		Cash Imprest - TAB			500		500
		Total Cash and Bank			42,978		25,240
		Inventories
		Stock on Hand - Bar			15,217		15,763
		Stock on Hand - Cordials, Chips etc			3,723		4,030
		Total Inventories			18,940		19,792
		Prepayments			2,787		0
		Gaming Holdings - Hoppers			14,710		15,436
	Total Current Assets				79,414		60,467
	Non-Current Assets
		Property, Plant and Equipment			412,955		425,764
	Total Non-Current Assets				412,955		425,764
Total Assets					492,369		486,231
Liabilities
	Current Liabilities
		Bank
		BNZ - Gaming Account			10,639		6,930
		BNZ - 26 Account			0		17
		Total Bank			10,639		6,947
		Trade and Other Payables			32,869		31,192
		GST Payable			4,893		4,892
		Income Tax Payable			1		1,241
		Current Portion of Term Liabilities			7,102		6,765
		Provision For Holiday Pay			9,003		12,886
	Total Current Liabilities				64,507		63,923
	Non-Current Liabilities
		BNZ - Loan 3013 (Secured)			108,910		116,066
		Unsecured Loan - Club Member's			21,920		24,920
	Total Non-Current Liabilities				130,830		140,986
Total Liabilities					195,337		204,909
		Net Assets			297,032		281,322
Equity
		Retained Earnings			297,032		281,322
Total Equity					297,032		281,322
Statement of Cash Flows
LEVIN CLUB INC
For the year ended 30 June 2018
			Account			2018		2017
Cash Flows from Operating Activities
			Donations, fundraising and other similar receipts			37,112		29,691
			Fees, subscriptions and other receipts from members			39,971		30,403
			Receipts from providing goods or services			594,502		463,116
			Interest, dividends and other investment receipts			1		24
			GST			1		1,381
			Payments to suppliers and employees			(641,231)		(544,145)
Total Cash Flows from Operating Activities						30,356		(19,530)
Cash Flows from Investing and Financing Activities
			Proceeds from loans borrowed from other parties			0		400
			Payments to acquire property, plant and equipment			(7,217)		(1,953)
			Cash Flows from Other Investing and Financing Activities			(9,819)		(13,554)
Total Cash Flows from Investing and Financing Activities						(17,036)		(15,107)
			Net Increase/ (Decrease) in Cash			13,320		(34,637)
Cash Balances
			Cash and cash equivalents at beginning of period			33,729		68,366
			Cash and cash equivalents at end of period			47,049		33,729
			Net change in cash for period			13,320		(34,637)

 

 

 

 

 

Notes to the Financial Statements

LEVIN CLUB INC

For the year ended 30 June 2018

1. Basis of Preparation

The entity has elected to apply PBE SFR-A (NFP) Public Entity Simple Format Reporting - Accrual (Not for Profit) on the basis that is does not have public accountability and has total annual expenses of equal to or less than $2,000,000. All transactions in the Performance Report are reported using the accrual basis of accounting. The performance report is prepared under the assumption that the entity will continue to operate into the foreseeable future.

2. Statement of Accounting Policies

The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied:

a) Measurement Base

These financial statements have been prepared on a historical cost basis. The financial statements are presented in New Zealand dollars (NZ$) and all values are rounded to the nearest NZ$, except when otherwise indicated.

b) Changes in Accounting Policies

There have been no changes to accounting policies.

c) Revenue Recognition

Revenue from club membership subscriptions are recognised on receipt. No Accrual is made for subscriptions in arrears as this income is not guaranteed. All other income is recognised on a normal accrual accounting basis.

d) Inventories

Inventories are stated at the lower of cost, determined on a first-in-first-out basis, and net realisable value.

e) Accounts Payable

Accounts payable are recorded at the amount of cash required to settle those liabilities.

f) Property, Plant and Equipment

Property, Plant and Equipment are incorporated in the Statement of Financial Position at cost, plus all additions since at cost less total depreciation charged to date. Land & Building have a current value from Quotable Value NZ Limited of $830,000.  This Year            Asset Class  Opening Carrying Amount  Purchases  Sales/ Disposals Current Year Depreciation Closing Carrying Amount  Buildings 340,025     8,845 331,181  Fund Raising Plant 20,804 7,217   6,999 21,022  Furniture & Fittings 4,126     810 3,316  Land 49,347     0 49,347  Office Equipment 676     91 585  Plant & Equipment 10,786     3,281 7,505  TOTAL 425,765 7,217 0 20,026 412,956  Last Year            Asset Class  Opening Carrying Amount  Purchases  Sales/ Disposals  Current Year Depreciation  Closing Carrying Amount  Buildings 348,871     8,845 340,025  Fund Raising Plant 27,299     6,494 20,804  Furniture & Fittings 5,229     1,103 4,126  Land 49,347      0 49,347  Office Equipment 882     206 676  Plant & Equipment 12,133 1,953   3,301 10,786  TOTAL 443,760 1,953 0 19,949 425,765

g) Depreciation

Depreciation is provided on a straight line basis on all tangible fixed assets other than freehold land, at rates calculated to allocate the assets' cost over their estimated useful lives. Account Method Rate Land No Depreciation % Buildings Straight Line 2% Fund Raising Plant Straight Line 20% Plant & Equipment Straight Line 10% Office Equipment Straight Line 10% Furniture & Fittings Straight Line 6.7%

 

h) Goods and Services Tax

All amounts are stated exclusive of goods and services tax (GST) except for accounts payable and accounts receivable which are stated inclusive of GST.

i) Taxation

The Club returns income that is derived from outside the circle of its membership and claims as deductions expenditure incurred in relation to the earning of that income.

3. Taxation

The tax expense against income for the year is the liability of the club as calculated in accordance with the income tax return to the Inland Revenue Department.

4. Term Liabilities

The building extension loan from the BNZ has a registered mortgage over the property at 262 Oxford Street, Levin. BNZ Business Loan (6.98%)        $116,011.51 Amount due for payment within one year  $7,102.01 Amount due for payment after one year   $108,909.50

5. Contingent Liabilities & Commitments

There were no contingent liabilities or financial commitments including operating lease commitments at 30th June 2018 (2017: Nil).

6. Transactions with Related Parties

All Committee Members, Executive and Key Management are members of the Club. As members they enjoy the services and facilities of the club on the same terms and conditions as other members. During the 2016 year members of the club provided $31,660 in unsecured loans, with no interest, to the club to enable an upgrade of the gaming machines. After partial repayments the balance at 30th June 2018 was $21,920.

7. Bank Overdraft

The Club does not have an overdraft facility with the BNZ Bank. The 00 account balance is offset against the 02 account balance.