b'NEW SOUTH WALES MASONIC CLUBABN 79 000 003 289YourdirectorspresenttheirreportontheNewthe notes where a new disclosure is required.SouthWalesMasonicClub(theClub)forthePrincipal Activitiesfinancial year ended 30 June 2021. The principal activities of the Club during the year The names, qualifications, experience and specialweretoprovideMemberswithamenitiesand responsibilities of the directors in office at any timefacilities usually associated with a Licensed Social during, or since the end of, the year are: Club and to operate a boutique hotel at not less Stephen George Bates, B. Bus, CA. than a four-star standard. No significant change Elected to the Board on 25 November 1996. in the nature of these activities occurred during Occupation: Director, Watson Erskine & Co Ptythe year.Ltd, Chartered Accountants. DIRECTORS REPORT Theseactivitieshaveassistedinachievingthe President since 23 November 2015. FOR THE yEAR ENDED 30 JUNE 2021 short and long term objectives of the Club by being Graham William Byrne, BA consistent in all respects with those objectives.Elected to the Board on 26 November 2007. Key Performance MeasuresOccupation: Managing Director, Graham Byrneof the total number possible were: The Club measures its own performance through & Associates Pty Ltd, Management ConsultantsBoard Committees theuseofbothquantitativeandqualitative (retired). benchmarks.Thebenchmarksareusedbythe Special Responsibilities: Convenor FinanceSG Bates 11/12 21/24 directors to assess the financial sustainability of Committee to 1 December 2020. GW Byrne 10/12 11/12 the company and whether the Clubs short-term Robert Eaglesham, Dip. AII and long-term objectives are being achieved. Key Elected to the Board on 23 November 2015. RJ Eaglesham 10/12 12/12 performance benchmarks used include:Occupation: Company Director. S Hodgson 12/12 12/12 Average monthly room rate for accommodation;Vice President since 25 November 2019. P Read 11/12 12/12 Average monthly room rate for accommodation Special Responsibilities: Convenor, House Supplynet of commissions;and Staff Committee. W Redpath 12/12 12/12 Monthly occupancy rate for accommodation;Peter Read, B. Bus, CPA, GAICD SC Wearne 4/4 3/3 Monthly EBITDA against budget;Elected to the Board on 23 November 2015. P Zeilic 12/12 12/12 Monthly departmental operating results against Occupation: Principal, Present and Accountedbudget;For, Strategic Financial Consultants. Clubs Objectives Cash flow forecasting;Special Responsibilities: Convenor, FinanceThe Clubs short term objectives are to: Function enquiries capture rate;Committee wef 1 December 2020; Member,Provide its Members with bars, restaurant/bistro,Feedback from members, guests and social House Supply and Staff Committee to 1meeting rooms, function rooms and a high qualitymedia;December 2020. of service; Survey of members and guests;Stephen Caldwell Wearne, FCA Provide Members and guests with high qualityMembership growth;Elected to the Board on 2 March 2005. Resignedaccommodation facilities; Capital expenditure program against set on 7 October 2020. Provide Members and guests with service of themilestones; andOccupation: Director, Boroughs Australia Pty Ltd,highest practical level; Monitoring of regular training programs for Chartered Accountants. ProvideMembersandguestswithahighemployees.Special Responsibilities: Member, Financestandard of food and beverage offering; and Operating ResultsCommittee. ProvideappropriatetrainingforstaffandThelossfortheyearamountedto$1,143,339 Peter Zeilic, B. Sc., B. Arch, M. Proj Mgmt, Justicedirectors. (2020 loss: $348,056) after allowing for an income of the Peace The Clubs long term objectives are to: tax benefit.Elected to the Board on 23 November 2009. Continually upgrade the quality of the hotel inReview of OperationsOccupation: Managing Director, Peter Zeilic Ptyorder to maximise its commercial returns for theThehighlyinfectiouscoronavirusCOVID-19 Colombo Swimming Club, Sri Lanka Ltd, trading as Dimension 5 Design Architectureoverall betterment of the Club and the facilitieswas declared a pandemic by the World Health & Project Management. it provides to its Members; and Organisation on 11 March 2020. The pandemic Special Responsibilities: Member, House SupplyContinually upgrade the quality of service offeredcontinues to have a catastrophic human impact and Staff Committee. by staff. andeconomiccostworldwide.Theimpacton StephenHodgson,Dip.Co.Directorship,Dip.To achieve these objectives the Club has adoptedthe Club continues to be a sustained dramatic Forensic Medicine, Justice of the Peace the following strategies: reduction in accommodation and other revenues, Elected to the Board on 25 November 2019. Developmentofanintegratedcapitalcoupled with the need to temporarily stand down Occupation: Managing Director, KASH Imagesimprovements program funded from retainedmost employees and reduce operating expenses.Pty Ltd, Forensic Inspection Reporting Services &and current earnings; Theaccommodationsegmenthadanother Testing (FIRST). Developmentofarefurbishmentanddramaticdeclineinrevenuecomparedtothe Special Responsibilities: Treasurer; Member,maintenance program designed to uphold thepreviousyear.However,thecontributionfrom Finance Committee. heritage status of the building and enhance thethefoodandbeverageoperationsimproved William Redpath quality of the facilities available to Members; and overtheprioryearduetothecessationof Elected to the Board on 25 November 2019. Maintenance of best practice technology totheoutsourcingarrangementon14February Occupation: Retired. maximise returns from accommodation and2021.Asaresult,thecontributionachieved Special Responsibilities: Member, House Supplyancillary revenue streams for the benefit of the Club. fromalloftheClubsoperationalareaswas and Staff Committee. New Accounting Standards Implemented $1,343,000 lower than the previous year. Costs Directors have been in office since the start ofThe Club has early adopted the new Simplifiedwere$473,000lowerthanthepreviousyear, the financial year to the date of this report unlessDisclosureStandard,AASB1060Generaldue to lower costs across the business, mainly otherwise stated. PurposeFinancialStatementsSimplifiedpersonnel, marketing, utilities, and repairs and Disclosures for For-Profit and Not-for-Profit Tier 2maintenancecosts,andwerefurtherassisted Meetings of Directors Entities (Tier 2). Adoption of this new accountingbywageandincomesubsidiesreceivedfrom During the financial year, the Board ofstandard has no impact on the financial resultsthe Australian Government. The Clubs operating Directors met on 12 occasions, the House,andhasminimalimpactonthenotestotheloss before tax was higher than the prior year Supply and Staff Committee met on 12financialstatements.Byearlyadoptingunderloss by $866,000.occasions and the Finance Committee metAASB2021-1TransitiontoTier2:SimplifiedTheBoardofDirectors,inconjunctionwith on 12 occasions. The number of meetingsDisclosuresforNot-for-ProfitEntities,thereisthe General Manager, have made a number of attended by each director during the year outrelief from providing comparative information indecisions to mitigate as much as possible the October 2021 NSW Masonic Club11'