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centralcoastSPORTSFEDERATION

PerformancePodiatry

GOSFORDBATEAU BAYTENPIN BOWL

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PerformancePodiatry

REVENUE(UP 12%)

COST OF SALES(DOWN 1%)

GROSS PROFIT(UP 15%)

EXPENSES(UP 21%)

TOTAL EQUITY(UP 7%)

2004 2011

200,000300,000400,000500,000600,000700,000800,000900,000

2005 2006 2007 2008 2009 2010

2004

100,000200,000300,000400,000500,000600,000700,000

2005 2006 2007 2008 2009 2010

2004

030,00060,00090,000

120,000150,000180,000

2005 2006 2007 2008 2009 2010

2004

050,000

100,000150,000200,000250,000300,000

2005 2006 2007 2008 2009 2010

2004

200,000300,000400,000500,000600,000700,000800,000

2005 2006 2007 2008 2009 2010

2011

2011

2011

2011

Statement of Comprehensive IncomeFor the year ended 31 December 2011

Note 2011 2010

$ $

Revenue 2 912,578 800,871

Other Revenue 2 14,194 10,570

Cost of Sales (154,018) (154,808)

Gross Profit 772,753 656,633

Marketing (278,058) (158,411)

Selling Expenses (10,027) (5,773)

Administration Expenses (463,403) (430,881)

Finance Costs (3,712) (3,401)

Operating Profit Before Income Tax 17,552 58,168

Income Tax (Credit) Attributable to Operating Profit (Loss)

Operating Profit After Income Tax 17,552 58,168

Retained Profits at the beginning of the Financial Year 244,516 186,348

Total Available for Appropriation 262,068 244,516

Retained Profits at the end of the Financial Year 262,068 244,516

Other Comprehensive Income:Other Comprehensive Income for the Year,

Net of Tax

Total Comprehensive Income for the Year 262,068 244,516

Balance SheetAs at 31 December 2011

Note 2011 2010

Current Assets $ $

Cash Assets 4 136,775 330,764

Receivables 5 221,542 51,260

Inventories 6 77,445 50,753

Other 7 4,980 4,864

Total Current Assets 440,743 437,640

Non-Current Assets

Property, Plant and Equipment 8 116,334 60,573

Total Non-Current Assets 116,334 60,573Total Assets 557,076 498,214

Current Liabilities

Payables 10 21,203 51,240

Financial Liabilities 11 16,049 12,302

Provisions 12 39,949 30,019

Other 13 143,000 143,000

Total Current Liabilities 220,200 236,561

Non-Current Liabilities

Financial Liabilities 11 74,808 17,137

Total Non-Current Liabilities 74,808 17,137Total Liabilities 295,008 253,698Net Assets 262,068 244,516

EquityRetained Profits 262,068 244,516

Total Equity 262,068 244,516

Statement of Cash FlowsFor the year ended 31 December 2011

2011 2010$ $

Cash Flow From Operating Activities

Receipts 746,928 812,419

Interest Received 9,562 10,570

Payments (914,617) (854,520)

Interest and Other Costs of Finance (2,728) (3,401)

Net Cash Provided by (used in) Operating Activities (160,856) (34,932)

Cash Flow From Investment Activities

Payments for Property, Plant and Equipment (117,901) (3,187)

Receipts from Sale of Property, Plant and Equipment 23,331 -

Payment for Intangible Assets -

Net Cash Provided by (used in) Investment Activities (94,570) (3,187)

Cash Flow From Financing Activities

Proceeds of Borrowings 112,278 -

Repayment of Borrowings (31,402) (10,025)

Repayment of Finance Lease Commitments -

Increase in Finance Lease Commitments (19,438) -

Net Cash Provided by (used in) Financing Activities 61,438 (10,025)

Net Increase (Decrease) in cash held as a result of

Operating, Investment and Finance Activities

Detailed Above (193,988) (48,145)

Cash at the beginning of the year 330,763 378,908

Cash at the end of the year 136,775 330,763

Statement of Cash Flows (cont.)For the year ended 31 December 2011

2011 2010$ $

Reconciliation of Cash

Cash at Bank 136,381 329,484

Cash on Hand 394 1,279

136,775 330,763

Reconciliation of Net Cash Provided By / Used In Operating Activitiesto Net Profit

Operating Profit (Loss) After Tax 17,552 58,168

Non-Cash Items:

- Depreciation 35,076 14,616

- Provision for Annual Leave 9,930 (3,185)

- Non Cash Sponsorship -

- Loss on Sale 3,734

Changes in Assets and Liabilities:

- (Increase) Decrease in Trade and Other Receivables (170,283) 11,548

- (Increase) Decrease in Inventories (26,692) (21,860)

- (Increase) Decrease in Prepayments (116) 4,798

- (Increase) Decrease in Other Assets - -

- (Increase) Decrease in Trade and Other Payables (30,058) (14,535)

- Increase (Decrease) in Sundry Provisions (84,483)

Net Cash Provided by Operating Activities (160,857) (34,932)

2011 2010

Note 2: Revenue and Other Income $ $Revenue:

Other Operating Revenue:

Government Subsidies 175,060 199,500

Sponsorship 561,278 456,592

Athlete Registration Fees 61,862 47,417

Other Income 114,377 97,362

912,577 800,871

Other Revenue:

Insurance Recoveries 4,633 -

Interest Received 9,562 10,570

14,195 10,570

Note 3: Profit for the Year

Expenses:

Depreciation of Plant and Equipment 35,076 14,616

Bad Debts Expense - 1,600

Auditor Remuneration

Audit Services 4,950 4,050

Note 4: Cash and Cash Equivalents

Cash at Bank 136,381 329,484

Cash on Hand 394 1,280

136,775 330,764

Reconciliation of Cash:

Cash at the end of the financial year as shown in the

statement of cash flows is reconciled to items in the

statement of financial position as follows:

Cash at Bank 136,381 329,484

Cash on Hand 394 1,280

136,775 330,764

2011 2010

Note 5: Trade and Other Receivables $ $

Current

Trade Debtors 206,820 41,090

Other Debtors 14,722 10,170

221,542 51,260

Note 6: InventoriesStock Held for Resale, at Cost 77,445 50,753

77,445 50,753

Note 7: Other Assets

Current

Prepayments 4,590 4,474

Other Assets 390 390

4,980 4,864

Note 8: Property, Plant and Equipment

Property, Plant and Equipment - at Cost 187,334 141,049

Less accumulated Depreciation (71,000) (80,476)

116,334 60,573

Note 9: Trade and Other Payables

Unsecured:

Trade Creditors 3,408 30,703

Sundry Creditors 13,226 16,163

Superannuation Payable 4,569 4,374

21,203 51,240

Note 10: Borrowings

Current

Secured:

Hire Purchase 14,143 10,376

Unsecured Loans from Directors

and Director Related Entities 1,906 1,926

16,049 12,302

2011 2010

Non-Current $ $Secured:

Hire Purchase 74,808 17,137

74,808 17,137

Note 11: ProvisionsCurrent

Provisions for Employee Entitlements 39,949 30,019

39,949 30,019

Note 12: Other Liabilities

Grants in Advance 143,000 143,000

143,000 143,000

Note 13: Capital and Leasing Commitments

Hire Purchase Commitments

Payable - Minimum Hire Purchase Payments

- not later than 12 months 19,568 12,714

- between 12 months and 5 years 90,463 16,800

Minimum Hire Purchase Payments 110,031 29,514

Less: Unexpired Finance Charges (21,080) (1,701)

88,951 27,813

Note 14: Events Subsequent to Reporting DateSince the end of the financial year the company has had no material subsequent events.

Note 15: Auditors Remuneration

Remuneration of the auditor of the company for:

Auditing or Reviewing the Financial Report 4,950 4,050

Other Services - -

4,950 4,050

2011 2010

Note 16: Related Parties $ $

Transactions between related parties are on normal commercial

terms and conditions no more favourable than those available

to other parties unless otherwise stated.

Transactions with related parties:

Director-Related Entities

Transactions with director-related entities:

During the year ended 31 December 2011, Central Coast

Academy of Sport Limited entered into a contract with Gold

Coast Academy of Sport for whom Ian Robilliard and Mark

Holton are a director, to provide operational assistance 13,000 12,833

During the year ended 31 December 2011, Central Coast

Academy of Sport Limited entered into a contract with Skilled

Sports Pty Limited for whom Ian Robilliard is a director, to provide

operational assistance 15,000 13,420

During the year ended 31 December 2011, Central Coast

Academy of Sport Limited entered into a contract with Dynamic

Taxation & Training Services for whom Mark Holton is a director,

to provide accounting and taxation services 18,360 13,180

Identification of Related Parties

Gold Coast Academy of Sport Limited

Skilled Sports Pty Limited

Dynamic Taxation & Training Services

Note 17: Company Details

The registered office of the company is:

Central Coast Academy of Sport Limited

115 Scenic Highway

Terrigal NSW 2260

The principal place of business is:

Central Coast Academy of Sport Limited

The Regional Athletics Track

Mingara Recreation Club

Mingara Drive

Tumbi Umbi NSW 2261

Note 18: Member GuaranteeThe entity is incorporated under the Corporations Act 2001 and is a company limited by guarantee. If the company is wound up, the constitution states that each member is required to contribute a maximum of $1 each towards meeting any outstandings and obligations of the company. At 31 December 2011 the number of members was 6.

Trading AccountFor the year ended 31 December 2011

2011 2010$ $

Trading Income

Sponsorship 561,278 456,592

Government Subsidies 175,060 199,500

Athletes Registration 61,862 47,417

Other Income 114,377 97,362

Total Trading Income 912,578 800,871

Cost of Sales

Add:

Opening Finished Goods 50,753 28,893

Purchases 180,711 176,668

231,463 205,561

Less:

Closing Finished Goods 77,445 50,753

77,445 50,753

Cost of Sales 154,018 154,808

Gross Profit From Trading 758,559 646,063

Detailed Profit and Loss StatementFor the year ended 31 December 2011

Income 2011 2010Trading Profit 758,559 646,063

Insurance Recoveries 4,633 -

Interest Received 9,562 10,570

Total Income 772,753 656,633

Expenses

Academy Games 18,912 22,207

Accountancy 18,360 13,180

Advertising and Promotion 273,210 152,615

Audit Fees 4,950 4,050

Bad Debts - 1,600

Bank Fees and Charges 2,737 1,042

Board Expenses 608 2,239

Borrowing Expenses 984 -

Cleaning / Rubbish Removal 41 -

Conference / Seminar Costs 145 1,293

Computer Expenses 4,703 4,503

Consultants Fees 10,027 5,773

Depreciation - Plant 35,076 14,616

Donations 8,769 550

Electricity 1,000 1,000

Filing Fees 687 40

Fines 198 357

Freight and Cartage 644 2,578

Function Expenses - 10,112

Insurance 10,015 9,990

Interest - Australia 2,728 3,401

Internet Access 938 1,151

Loss on Disposal of Assets 3,734 -

Detailed Profit and Loss Statement (cont.)For the year ended 31 December 2011

2011 2010

Marketing and Promotion 1,845 1,224

Meetings - Sports 3,826 2,796

Membership Fees 4,599 4,281

Motor Vehicle Expenses

Fuel and Oil 7,765 8,395

Registration and Insurance 5,427 3,055

Repairs and Maintenance 3,075 3,197

Parking and Tolls 2,595 2,457

Photography 697 102

Postage 1,814 1,855

Printing and Stationery 27,893 20,148

Provision for Annual Leave 9,930 (3,185)

Rent 10,500 10,500

Repairs and Maintenance 1,291 808

Salaries 191,145 223,823

Staff Amenities 1,303 631

Sponsorship Costs 11,576 2,337

Staff Training 3,699 805

Storage 2,927 2,353

Subscriptions 869 1,027

Superannuation 17,077 18,039

Telephone 14,536 14,268

Trade Mark License Fees 7,000 7,000

Travelling Expenses 20,783 13,751

Uniforms 1,618 2,117

Web Site 2,944 4,386

Total Expenses 755,201 598,465

Profit from Ordinary Activities Before Income Tax 17,552 58,168

Profit and Loss StatementFor the year ended 31 December 2011

2011 2010$ $

Operating Profit Before Income Tax 17,552 58,168

Income Tax (Credit) Attributable to Operating Profit (Loss)

Operating Profit After Income Tax 17,552 58,168

Retained profits at the beginning of the financial year 244,516 186,348

Total available for appropriation 262,068 244,516

Retained profits at the end of the financial year 262,068 244,516