2012 gcas annual report

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2012 AnnualReport

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Business Partners

Academy Partner

Official Venues

Royal PinesResort

Royal PinesResort

3Contents

Business Area Reports PageChairman’s Report 06Managing Directors and Executive Officer’s Report 09The Board of Directors 12Strategic Plan 14Future Developments 18

Sports Program Reports Golf 20Future Stars 22Football (Soccer) 24Rugby League 26Indoor Volleyball 28Beach Volleyball 30Basketball 32Table Tennis 34Awards Night 36

Finance Reports Director’s Report 42Auditor’s Independence Declaration 46Directors’ Declaration 47Trading, Profit and Loss Account 48Income Statement 51Balance Sheet 52Statement of Cash Flow 54Notes to Financial Statements 56Depreciation Pools 65

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Robina

Golf

Future Stars (North) / Beach Volleyball

Football (Soccer)

Rugby League

Future Stars (Gold Coast South)

Volleyball (Indoor)

Basketball

Table Tennis

Sports Program Sponsors

Royal PinesResort

Royal PinesResort

Royal PinesResort

5Official Suppliers

Paul Christou - Official Photographer. For copies call 0418 184 555

The GCAS Golf squad enters the Academy Games Opening Ceremony in Wollongong. Photo by GCAS media

6 Chairman’s Report

Chairman’sReport

At the end of a third year of operation, it is with great pleasure that I report on the achievements of the Gold Coast Academy of Sport. This year over 200 athletes participated in 9 sports programs, a remarkable increase in the number who were involved the previous year and since the official launch of the Academy in October 2009.

The Board and sponsors are running every step of the way with the athletes and coaching staff. It gives the Board great pleasure to be providing advice voluntarily on the direction for this ‘not for profit organisation’ that is making such a positive impact on the development of sport and on young people in the Gold Coast region.

The Awards Night is an event that I look forward to each year and greatly enjoy. As a part of such a large gathering of over 400 VIP’s and other guests this year, it was amazing to hear again about the efforts and achievements of the scholarship athletes, coaches and managers. I made

special mention in my address about the parents. Without their equal dedication in transporting the athletes to the various training sessions, the sporting dreams of their children could not be realised.

I am most delighted to see the values of the Academy on show and these values are simple: Achieve your best in every aspect of life; Excel in everything you do; Inspire others and yourself by your deeds; and last but not least Respect yourself, the gifts and opportunities you’ve been given, and those people around you. These values are summarised in a culture document that is featured on the Academy’s website.

GCAS Chairman the Hon Mick VeiversPhoto by Paul Christou

Over 400 Academy supporters gathered at the Awards NightPhoto by Paul Christou

7Chairman’s Report

2012 GCAS Academy Games Golf SquadPhoto by GCAS media

All athletes were recognised with a certificate of graduation and many fine up-and-coming athletes received specific awards in their chosen sport. Daniel Coleman (Triathlon/Future Stars north) was the recipient of the Male Athlete of the Year Award for a second successive year, Jessica Roche (Indoor Volleyball) was presented with the Female Athlete of the Year and Kenza Benzenati (Athletics/Future Stars north) was honoured with the Chairman’s Award. A highlight of the evening was an interview with special guest Brent Livermore, 2004 Olympic Gold medallist in Hockey, about his journey in sport.

The GCAS once again entered a Golf squad into the Academy Games in Wollongong, NSW and Maddison Coster was the leading female athlete in the Golf tournament. The GCAS was the only squad from Queensland to compete and gladly carried the responsibility of representing the Gold Coast region and the State at this event that attracted nearly 1000 athletes from 7 different sports. It is important for the wider recognition of the Academy that we continue to be represented.

The founding group of business partners – Gold Coast City Council and Business GC, Greater Building Society, RACV Royal Pines Resort, NBN television, Sea and Gold FM and Griffith University were joined this year by the Runaway Bay Sport and Leadership Centre (Sports Super Centre) in providing the resources necessary to support the operations of the Academy. The GCAS would like to recognise the support of this first-class sporting facility and its Managing Director, David Morgan, who made this special announcement at the Awards Night. The on-going support of all official venues, program sponsors and official suppliers

recognised in this report provides the platform for ‘golden opportunities through sport’ for the athletes.

On behalf of the Board, I would like to thank the coaches, program managers and volunteers for their commitment to the operations of the sports programs. The inclusion of guest coaches, several with high level or even Olympic Games experience, provides greater insight for the

athletes into what is required to reach high levels of elite sport.

To my fellow Board members, Glynis Nunn-Cearns, Bob Hagley, Professor Kristine Toohey, Gavin Kirkman, Mark Holton and Ian Robilliard, office staff and State Government Local Sport and Recreation Coordinators, I thank you for sharing your enthusiasm and expertise with the Academy. Managing Director Ian Robilliard has continued to share with the GCAS his experience of establishing a highly successful regional academy of

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sport. Just as an athlete requires advice, Ian and the Central Coast Academy of Sport have helped provide guidance to the GCAS of how to establish sustainable operations. The GCAS is in an accelerated position of development owing much to his support in the area of administration.

Through this partnership, the GCAS is increasingly included in plans for the wider regional academy of sport network that extends across New South Wales and other states of Australia. The Gold Coast’s reputation as a region striving for excellence

and continuous improvement in pre-elite sport is steadily increasing in the lead-up to hosting the 2018 Commonwealth Games. To have current Academy athletes competing at an event like this in the future is something special to strive for and would be truly satisfying.

I trust that you will continue your support and enjoy your participation in the Gold Coast Academy of Sport in 2013.

Hon Mick VeiversChairman

Chairman’s Report

Academy Games Opening Ceremony, Wollongong NSWPhoto by GCAS media

9Managing Directors & Executive Officers Report

The first three years of any organisational venture are often the most difficult to navigate. However, with a committed board, professional management team, a sound business plan, longer term guaranteed funding, a philosophy of continuous improvement and a growing groundswell of community support, the past year was again a remarkable year of development.

Buoyed by interest in the 2012 London Olympic Games, for a third successive year the number of programs, athletes, coaches, administrators and volunteers participating in the Academy all increased significantly.

Business partner level and programs sponsorship renewals with the Gold Coast City Council, Business GC, Greater Building Society, RACV Royal Pines Resort, NBN television and Griffith University were all announced. The Runaway Bay Sport and Leadership Excellence Centre (Sports Super Centre) increased its level of support to a business partner level as well and this was confirmed by its Managing Director David Morgan. All of these partnerships and the support of the sponsors is outstanding and allows the Academy to continue the work it does for sport in the Gold Coast community.

The GCAS would particularly like to recognise the support of the Gold Coast City Council for

providing the facilities for the Academy to have its own functional independent office space. The Carrara Sports Complex is the ideal location for the office of the Academy because it is developing into a hub for sport development in readiness for hosting the 2018 Commonwealth Games on the Gold Coast.

For still a relatively young organisation, the numbers of success stories of athletes progressing to higher levels of elite sport is most encouraging. Many of these athletes were featured at the annual Awards Night at which over 400 people were in attendance making this event one of the largest of its type in the Gold Coast region. The positive contribution the athletes are making off the field in the wider community was equally

Managing Directors & Executive Officers Report

Greater GCAS athlete ambassadors Rebecca Tickner and Roman Hofmann with Rosy King, Nerang Branch manager of the Greater Building Society. Photo by Paul Christou

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pleasing to hear. A growing number are expressing how the Academy is positively influencing them and this current generation in a variety of ways, setting a foundation for an increasingly successful future in the modern world.

In response to an increasing administrative workload to meet demand, the board was delighted this year to be able to increase the number of staff. Kathryn Shepherd-Ashby was appointed to the full-time position as the Office and Programs Coordinator. At the end of the year Kathryn chose to leave this full-time position in administration. However, the GCAS would like to thank her for her positive contribution to the operations during her short time in the Academy office.

The GCAS continues to be a member of a like-minded cluster of community organisations that support State Government funded Local Sport and Recreation Coordinators Ty Chapman and Sarah Neal. Ty and Sarah worked in a part-time capacity for the GCAS supporting events, helping to generate sponsorship and developing grant applications for funding.

The contracting of Mick Ellison as the Manager of Commercial Operations in the early stages of the year assisted the Academy to ensure that the needs of existing sponsors were adequately met at a time when many of the programs were launching for the new year. The board will review the staffing strategy and adjustments to the staffing make-up will occur early in 2013 to best meet the growing needs to the GCAS.

A highlight of the year was the launching of the redesigned website utilising the most cutting edge technology available. The site showed a major increase in unique visitors with over 13,000 recorded. This was an increase on the 10,000 that were recorded in 2011 and 5,000 in 2010). These visitors generated close to 1,000,000 hits. The GCAS has expanded its social media presence with its Facebook page and photo galleries in particular generating increasing interest. Other highlights included the annual Corporate Golf Day with sponsored holes and the participation of the Golf athletes together with the corporate sponsors.

The increasingly sound business position able to be reported is a direct result of the committed Board of Directors with the support of the various sponsors who are all recognised in this report. We would like to express our thanks to the Hon. Mick Veivers, Glynis Nunn-Cearns, Bob Hagley, Professor Kristine Toohey, Gavin Kirkman and Mark Holton for their involvement ensuring the academy fulfilled the requirements of the business plan. Support and advice was readily offered to staff if requested.

GCAS Golf Athlete Tiana Beakey played with LPGA professional Golfer Francis Bondad at the Ladies Masters Pro-Am at the RACV Royal Pines Resort. Photo by GCAS Media


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The unique ‘culture’ of the GCAS was reviewed and a summary document published by the board. The values, ideals and future plans of the Academy are now outlined in a Culture Document and this is featured on the home page of the website.

We offer our sincere thanks to Central Coast Academy of Sport. Its staff have openly shared their knowledge of establishing a regional academy. This has allowed the GCAS to accelerate its rate of development over the past three years for the benefit of the athletes involved. Accountant Linda Holton of Dynamic Taxation and Training, Reece Norris and other core education presenters, sport management work experience students from Griffith University and other volunteers have all assisted and this support is greatly appreciated.

We would like to take this opportunity to again thank the board members of the GCAS who have allowed us to take on these

privileged positions of administration. With even wider support from the commercial sector in the region, the possibilities are endless for athlete and business development.

2013 will no doubt hold many challenges but we are personally looking forward to a greater number of ‘golden opportunities through sport’ that the Academy seeks to facilitate.

Ian Robilliard Robert ThompsonManaging Director Executive Officer


Olympic Beach Volleyball Gold medallist Kerri Pottharst met with GCAS Volleyball athletes Nicole Marr and Emily Haines. Photo by GCAS Media

12 The Board of Directors

The Gold Coast Academy of Sport has a clear model of Board involvement. The GCAS operates under the direction of a Board of Directors with each director allocated a specific portfolio. The involvement of the Board has been very consistent and is based on requests made by management staff.

The role of the Board is to have primary responsibility for the strategic development of the business aspects without ‘hands on’ management. Other key objectives include -

• Monitoring the effectiveness of management

• Reviewing the current financial welfare of the organisation and approving forward budgets and financial plans

• Ensuring all statutory reporting requirements are met in a timely and effective manner

• Implementing staff recruitment when required

In addition to regular review and planning meetings, the Board this year completed a comprehensive analysis of the vision, mission and aims of the organisation.

The Board of Directors includes:Mr Hon. Mick VeiversBoard Chairman

Ms Glynis Nunn-Cearns OAMDeputy Chairman and Chair Athlete Services

Mr Bob HagleyChair Commercial Operations (incl Sponsorship)

Mr Mark HoltonChair Finance and Audit

Mr Gavin Kirkman Director

Mr Ian RobilliardChair Sport and Business Operations/ Managing Director

Professor Kristine Toohey Chair Sports Science and Education

The Board of Directors

Our Mission Our VisionThe Gold Coast Academy of Sport will combine sporting

excellence with life skills development for pre-elite

athletes of the Gold Coast.

The Gold Coast Academy of Sport will provide excellence

through visionary programs for the region’s young athletes.

13The Board of Directors

GCAS Deputy Chairperson Glynis Nunn-Cearns with Wayne Hickson (Hickson media), David Morgan (Sports Super Centre) and Clare Ramsay (Gold Coast City Council) at the Awards Night. Photo By Paul Christou

Aims of the GCAS as outlined in the constitution:• To promote interest, participation and opportunities for athletes of the Gold Coast.

• To promote interest, participation and opportunities for coaches, administrators, officials, sports science practitioners, and other sports related parties of the Gold Coast.

• To provide specialist support to athletic performance through the interaction of sports medicine disciplines.

• To promote sports and sports tourism on the Gold Coast in order to bring additional economic benefits to the region.

• Either alone or in conjunction with any other sporting body whether corporate, individual or otherwise, to promote, conduct and carry out sports meetings, events, tournaments, competitions, and education programs for the benefit of participants.

• To provide sports education for coaches, athletes, officials, administrators and other related persons.

• To conduct competitions, demonstrations, conferences in relation to any sports and pastimes and to engage coaches, players, instructors and others as the Academy may see fit.

• To provide and promote vocational opportunities through athletic participation, sports coaching, sports science and general business opportunities for persons involved in the business of sport.

• To adopt the means of making known and promoting the objects and activities of the Academy and its members.

• To print and publish in any journal, magazine, book, periodical or other medium as the Academy may see fit.

• Liaise with related third parties involved with sports development for the Gold Coast Region.

14 Strategic Plan

Strategic Plan

A review of these operational measures includes:

Administration This year was the third year of the strategic development plan for the period 2010-2014. This document is closely linked to the wider regional Academy of Sport network in NSW and further afield. With the GCAS being a direct partner of the Central Coast Academy of Sport and an associate of other regional academies interstate, the commercial opportunities and collective goodwill are able to be extended beyond local borders.

The GCAS is continuing to model a collective approach to sports development as exists in 20 other regions of Australia but is a concept unique to the state of Queensland. This is a model that is likely to be replicated in other regions of the state in the years to come, particularly given the successful introduction of this regional academy.

Robert Thompson completed his third year as the Executive Officer. This position continues to receive significant remote and face to face support from the Central Coast Academy of Sport with Ian Robilliard as Managing Director assisting in securing sponsorship and developing the sport programs.

The board level is currently undergoing a thorough review of the staffing structure required to meet demand within the resources available and when that is completed, future plans in regard to staffing and positions of future employment will be announced.

Finance and AssetsIt is very pleasing to be able to report the sound financial figures as audited to the standards required by accounting firm Macquarie Partners. In a year where the global financial landscape remained tight and businesses were generally conservative

The Gold Coast Academy of Sport has a unique strategic business plan for the period 2010-2014. It outlines a number of operational performance measures allowing the organisation to grow in accordance with the plan.

GCAS Indoor Volleyball girl athletes at the Awards Night. Photo by Paul Christou

15Strategic Plan

towards sponsorship, the GCAS was able to increase the number of programs and further secure its financial position. The financial performance of the academy is being constantly reviewed and justified by the executive staff and the board of directors.

A summary of the key performance indicators reflects an increasingly solid financial position. There was a 20% increase in Local Council funding and a moderate rise in athlete levies and other income relating to the increased number of athletes involved in the programs. The 25% reduction in gross revenue ($351,487 in 2012 compared to 469,775 in 2011) is directly attributable to a commensurate reduction in the relatively extensive in-kind sponsorship income (in the form of television and radio advertising coverage) that was offered to the GCAS in the start-up phase of the business. A controlled net profit of $25,770 for 2012 has increased total equity to $180,554 providing an improving base of financial security for possible future expansion.

Quite simply, as the financial position of the Academy becomes more secure, the amount of resources increase for the programs.

If the academy is to expand, additional sources of income will need to be found. The hosting of the Commonwealth Games on the Gold Coast in 2018 has the potential to be of great benefit.

The payment of modest honorariums and a high level of community volunteer support resulted in an athlete levy of no more than $330 (including GST payable) to join a year-round program and receive significant benefits from quality coaching, uniforms and

core education seminars from experts in the field. This represents outstanding value for money.

The GCAS is able to receive donations (as a tax deduction to donors) through the Federal Government’s Australian Sports Foundation (ASF). $1,294 was received in comparison to $1,815 in 2011. This reflects how individuals in the community are finding it more difficult to make such contributions. It is hoped that more individual donors will see the Academy as a most worthy cause in the coming year.

To all business partners, corporate supporters and other donors, the academy offers its most sincere thanks. The Runaway Bay Sport and Leadership Excellence Centre (Sports Super Centre) joined the other founding business partners in supporting the academy at this level which is greatly appreciated.

Without this level of support, the GCAS would not have been able to make such an impact in Gold Coast sport.

London 2012 Olympic Beach Volleyball coach Steve Anderson instructs GCAS athlete Abby Byrne-Hartmann on the finer points of the sportPhoto by GCAS media

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Sports ProgramsNine sports programs (an increase from 6 and 2 trial programs in 2011) were offered including Golf, Future Stars (Gold Coast north), Football (soccer), Rugby League, Future Stars (Gold Coast south), Volleyball (Indoor), Beach Volleyball, Basketball and Table Tennis catering for 204 athletes (up from 154 in 2011).

These athletes were exposed to expert coaching, practical skill development and core educational seminars. Topics included public speaking improvement, sports psychology, Greater Building Society ‘financial fitness’ seminars and nutrition for sport. Guest visits from high profile current and past sportspeople were also organised.

The Greater GCAS athlete ambassador program sponsored by the Greater Building Society. Roman Hofmann (Football) and Rebecca Tickner (Golf) were selected by the board as this year’s ambassadors amongst the many athletes who entered applications. They were provided with additional opportunities in corporate skills training. They were then invited to attend a corporate functions and the they had their athlete profiles featured on both the GCAS and Greater Building Society websites.

The academy is extremely fortunate to have experienced coaching staff who not only provide a significant amount of time but ensure that their programs are of the highest order. Their high level of technical coaching expertise together with the addition of sport science offers a ‘point of difference’ for the athletes. A coaches conference was again held prior to the Awards Night. This was an opportunity for the Board to thank the coaches for their efforts and for them to share ideas and discuss issues in common across all sports.

IT and SystemsThe GCAS aims to have the most cutting edge IT platform possible including secure back-up of data in multiple locations. It is an on-going challenge to keep pace with the ever-changing world of IT that is required to remain compatible with the growing numbers of partners the academy communicates with electronically.

A sports program ‘hotline’ on the website provided the participants with the most up to date information about the status of each academy sports program. A one page Programs Summary was also added.

The Gold Coast Academy of Sport (GCAS) Facebook page doubled its number of Likes

GCAS Corporate Golf Day at the RACV Royal Pines Resort and the winning team on handicap from Gold Coast Rugby LeaguePhoto by GCAS media

Strategic Plan

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A large crowd attended the ‘Celebrating Success’ function after the Awards NightPhoto by GCAS media

Strategic Plan

to well over 300. There are plans to expand the use of the Sports Locker system. SMS messaging from the academy office will be delivered direct to the mobile phones of the athletes. This service will provide members of the academy with a cost effective, dynamic secure social network and a platform for coaches to post educational bulletins.

Commercial OperationsThe ability to plan ahead financially is most important for organisational stability and it was pleasing that all major business partnerships with the GCAS were renewed providing an ongoing and solid financial backing.

The acquisition of additional business partners and program sponsors is a high priority in order to further widen the financial base of support. Increased corporate sponsorship and development of the investment model will be required if the GCAS is to reach its longer-term strategic plans.

Gaining further marketing advertising exposure on TV and radio will be considered again.

Special EventsThe Corporate Golf Day and Annual Awards Presentation Evening were very well supported once again. These special events aimed to bring the community together to showcase the achievements of the organisation and the athletes to a wider audience than otherwise would be possible.

A squad of golfers was invited to the annual Academy Games in Wollongong in April and they joined nearly 1000 athletes from other regional academies for 3-days of friendly competition.

The GCAS continued its associate membership of the QSPORT network with wider Queensland and representatives attended the Queensland Sports Awards Function in Brisbane. Other events such as the Gold Coast City Council’s Science Week Fair, State Government’s Sport Super Sign-On Day, Griffith University’s career day and Bumhela Indigenous Festival Day were also supported.

18 Future Developments

The coming year will be a great opportunity to turn the interest in sport created by the recent Olympics into increased participation. With the Commonwealth Games on the Gold Coast drawing ever closer, local athletes will become even more inspired to aim to look to compete for Australia on home soil in just 6 years time.

The board has ambitious plans and these have been documented in the following key outcomes areas -

AdministrationThe GCAS would like to recognise the Gold Coast City Council for their support in providing access to the current administration office for at least a further two years. The academy will be seeking to remain and expand its office location at the Carrara Sports Complex and office expenses on items such as photocopying have been reduced with appreciation under sponsorship from Sharp ABT office services. The concept of a purpose built and flexible administration centre domiciled within the Carrara Sports Complex for corporate functions, training rooms, storage and additional staffing would be a very important development in the growth of the academy.

Finance and AssetsWhile the GCAS is pleased to report a increasingly robust business equity position, the board and staff of the organisation will be actively seeking to grow the amount of income further. This process will no doubt incur increased expenses but it will also generate new opportunities to invest in the GCAS, allowing it to invest back into the sports programs.

The GCAS is looking for ways in which to minimise costs such as the bulk ordering

of uniforms. The development of an on-line store with the ability to market merchandise and other products on behalf of sponsors and suppliers will also be investigated for cost efficiency. This option has already implemented by many Academies interstate for reasons of efficient finance and delivery direct to the homes of the athletes.

The receipt of additional business level sponsorship and/or state government operational funding would provide increased confidence in the role of the academy with mainstream and other sports that are yet to establish a ‘value-added’ sports program. Additional funds would be directed to the employment of sports program staff and to developing the benefits in the programs.

Sport Management It is anticipated that up to 10-12 sports programs will be offered by the GCAS in 2013. This will include the following sports; Golf, Future Stars north, Football/Soccer, Rugby League, Indoor Volleyball,

Future Developments

Chairman Mick Veivers and board member Bob Hagley with an eye to the future outside the GCAS office. Photo by GCAS media

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Beach Volleyball, Basketball, Table Tennis and Triathlon. At least one new program is likely to be launched by June. Such a mix will provide scholarship positions for approximately 220-240 athletes. This will be a major undertaking and a robust target of participation.

The GCAS will be taking a squad of at least 6 Golf athletes and managers to compete in the Academy Games in Wollongong from April 19-21. There are plans to take teams in other sports squads depending on sponsorship and availability of the athletes. The cost of taking a Golf squad to compete in the Games will be $7-$8,000. While this is significant, the academy will continue to provide funding relief to athletes offering them additional competitive opportunities and the experience of a lifetime.

IT and SystemsMaintaining and advancing the IT platform to state of the art levels is an ongoing challenge. The GCAS is embracing current technologies in order to keep pace with the various changes in commonly used IT. Expanding its presence on social networking sites, video summaries of programs and developing data storage in a ‘cloud’ are all developments being considered.

Website costs will only be required in maintenance and not establishment as was required this year. The GCAS will aim to keep updated content on the website and extend the length of visits by each visitor. The introduction of the National Broadband Network is likely to provide

enhanced opportunities for Internet-based technologies.

Marketing and PromotionFurther developing the recognition of the GCAS brand and understanding the supportive role the academy plays in the Gold Coast sports industry is an ongoing process of education. Having an increasingly recognisable logo and a ‘golden opportunities through sport’ tagline will continue to permeate all marketing and promotion.

The Board will continue to allocate significant resources for the Awards Night and the ‘Celebrating Success’ social event that follows. This is important as it is the once a year occasion where all of the stakeholders of the Academy can come together.

While the support of the funding business partners and corporate sponsors is much appreciated, several sponsorship ‘gaps’ exist in the sponsorship matrix. The Board and staff will be working extremely hard to fill these gaps in order to continue to provide robust sports programs.

The GCAS partnered with Griffith University to promote sport science to hundreds of high school students at the Gold Coast Science Fair at Evandale. Photo by GCAS media

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The aim of the program is to provide the athletes with value-added on-course training and educational opportunities to enhance their prospects of progressing further in the existing development pathway. The program offered a first year Introductory, second year Advanced and for the first time a third year Alumni program.

The program has the in-principle support of the Gold Coast Men’s and Women’s Associations and Golf Queensland. Curriculum advice, skills testing protocols and game preparation advice were offered to the athletes in line with the recommendations of these governing bodies. The Golf program has been a model for the integration of an academy program into the existing athlete pathway of a sport.

The Head Coach once again was three-time QLD PGA Coach of the Year and current Chairman of the Australian PGA Mark Gibson. He was supported by professional coach Derrin Morgan for the training sessions. Skills testing, video/computer analysis and sport psychology for Golf supported the athletes existing training schedules at their home clubs. Handicap scores reduced significantly with practise and commitment.

Core education sessions on topics such as biomechanics of the golf complemented the 20 practical sessions offered.

The Academy Games provided 8 athletes with a privileged experience including dressing and travelling as a team, time management skills and competing in different environments. The Captain of the squad was Tiana Beakey while Maddison Coster was the leading GCAS athlete, awarded the leading Female Golfer off scratch. Trent Whiting and Peter Lyon were the leading GCAS male athletes.

Program Reports 2012

Golf

Head Coach Mark Gibson demonstrates putting skills Photo by GCAS media

THE 2012 GCAS Golf squad inducted 22 male and female athletes aged 13 – 18 from 9 different local golf clubs. The sponsorship support of RACV Royal Pines Resort and E-Z-GO Golf cars assisted in providing high quality Sporte Leisure uniforms for the athletes in the squad and for those who represented the academy with distinction at the Academy Games in Wollongong.

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Introductory Squad - Conor Bronson (Southport GC), Drew Herbert (Coolangatta-Tweed Heads GC), Heiko Jeandepeux (Palmer Colonial), Rebecca Kay (Coolangatta-Tweed Heads GC), Christopher Melia (Southport GC), Trent Rhodes (RACV Royal Pines Resort), Tyla Smith (Coolangatta Tweed Heads GC), Rebecca Tickner (Sanctuary Cove GC)

Advanced Squad - Tiana Beakey (Surfers Paradise GC), Alice Burke-Caban (Southport GC), Maddison Coster (Emerald Lakes GC), Breana Hood (Emerald Lakes GC), Peter Lyon (Southport GC), Connor Martin (Hope Island GC), Jin Okugawa (Sanctuary Cove GC), Trent Whiting (Gold Coast Country Club)

Alumni Squad - Liam Anderson (Emerald Lakes GC), Ryan Cumming (Emerald Lakes GC), Breana Hood (Emerald Lakes GC), Caleb Hood (Emerald Lakes GC), Dee Dee Russell (Coolangatta-Tweed GC), Trent Whiting (Gold Coast Country Club)

2012 Academy Games Squad, Wollongong NSW - Tiana Beakey (Captain), Alice Burke-Caban , Maddison Coster, Ryan Cumming, Breana Hood, Peter Lyon, Tyson Johnston-Moir, Trent Whiting


Head Coach Mark Gibson demonstrates putting skills Photo by GCAS media

Royal PinesResort

Program Partners:

2011/12 Golf Squad

Official Venue:

2012 GCAS Golf Squad at the Awards Night. Photo by Paul Christou

22 Program Reports 2012

The Future Stars program is individually focused and is based on a high level of personal interaction with the athletes. Individual gymnasium and personal training support together with regular core education seminars were offered. 17 high quality athletes were inducted at training centres in the northern and southern regions of the Gold Coast. This allowed easier access for the athletes and parents to training sessions. The northern program ran from March to August at the Runaway Bay Sport and Leadership Excellence Centre while the southern program was offered from September to February at the Good Life Health Club at Robina.

The athletes at both centres had access to a wide variety of entitlements to assist them in their further development in their chosen sport. They were provided with individual access to gym memberships with unlimited visits, physiotherapy and sport psychology support if required. Advice in time management to utilise these services when it best suited their existing training schedules

was also provided. All athletes were expected to attend core education seminars once a month allowing them to interact as a group on topics such as nutrition, exercise program development and media skills training such as public speaking.

North Gold Coast Squad, Runaway Bay - Athletes: Kenza Benzenati (Athletics), Darcey Campbell (Athletics) Daniel Coleman (Triathlon/Athletics), Hayden Harrison (Rugby League), Ben Houghton (Table Tennis), Calvin Quirk (Athletics/Triathlon), Jess Whittaker (Triathlon/Athletics), Sonia Weatherley (Athletics/Program Coordinator)

South Gold Coast Squad, Robina - Athletes: Shaquille Gafa (Rugby League), Jake Gleeson (Rugby League), Jacob Roby (Rugby League), Tekapo Tuaine (Rugby League), Jessica Hughes (Athletics), Olivia Lucas (Athletics), Katelyn Simpson (Athletics), Leshay Wells (Athletics), Sonia Weatherley (Athletics/Program Coordinator)

Future Stars(North & South Gold Coast)

THE Future Stars program is open to athletes aged 13-23 who do not meet the eligibility requirements (eg age) of existing GCAS programs or for those who participate in sports that are not currently being offered. Athletes are expected to be representing the Gold Coast at a regional, state or International level or aiming to this level of achievement with the assistance of the Academy.

Program Partners:

Robina

23Program Reports 2012

Future Stars north squad. Photo by GCAS media

GCAS Future Stars south squad boysPhoto by GCAS media

GCAS Future Stars south squad girlsPhoto by GCAS media

24 Program Reports 2012

A variety of venues were used to improve the ease of access to sessions. The GCAS was most appreciative to the RACV Royal Pines Resort for offering a home to the program for the majority of the year on its International Training Field at a central location at Ashmore.

The athletes attended seminars on fitness testing results and Financial Fitness with the Greater Building Society. Life Skills sessions at Griffith University on topics such as social media were attended by a number athletes during school time.

Twice weekly sessions were organised to complement club based training and weekend club matches. The coaching staff was led for a third year by Head Coach Gary

Scott. Guest coaches from the Chelsea, Everton and Watford Clubs in the UK also provided invaluable voluntary support. A school holiday day clinic with Academy coaches from the Chelsea FC in the UK Premier League was a highlight.

Towards the end of the season, several athletes were invited to trial with A-League teams and overseas professional teams. Opportunities like these provide exposure to higher levels of participation. The GCAS will continue to support the participation of its athletes in local representative teams or club level competition. After three successful years, this program will come under re-development and a bright future is planned for the GCAS Football program.

Football (Soccer)THE 2012 GCAS Football program provided over 150 hours of ‘value-added’ quality practical Soccer training and core education sessions for 50 athletes in the pre-season, main winter program and off-season come’n’try sessions.

GCAS Football squad members at the Chelsea FC Coaching Day at the RACV Royal Pines Resort Photo by GCAS media


Coaching Staff

Head Coach – Gary Scott

Assistant Coaches – Clint Savage, Sam Smith

Managers – Brad Hill, Wayne Meacham

Athletes

Andrew Alighieri, Marcus Allison, Georgina Amos, Blake Angus, Daniel Bell, Nicholas Boulton, Domingos Cardoso, Emmanuel Cardoso, Daniel Chambers, Richard Clark, Shaun Core, Liam Davidson, Alistair Davis, Joshua Drewes, Lachlan Drewes, Paige Galbraith, Jonah Gele, Conrad Gooley, Luke Hilan, Jackson Hill, Roman Hofmann, Matthew Jones, William Kitchen, Nathan Kelsey, Tyson Kohayakawa, Ngun Lian, Andrew Mackintosh, James Mackintosh, Liam Markey, Joshua Martin, Keiran McMonagle, Dion Meacham, Nathan Nagy, Milan Niksic, Harrison Phillips, Zac Rafidi, Daniel Roby, Rhys Saunders, Dimitri Sofatzis, Charlie Smith, Beau Stanford, Grant Sweet, Will Taylor, Jack Thomas-Wright, Blake Thompson, Thomas Torzsok, Joel Walker, Dougie Watson, Tyrone Whelan, Francis Wood

Royal PinesResort

Program Partners:

Andrew Alighieri (Football Program Athlete of the year) in actionPhoto by GCAS media

26

The Head Coach was Indigenous mentor Sid Doyle who brings many years of playing and coaching experience to the program. Ably supporting Sid were assistant coaches and former NRL players Kevin Thompson and Nathan Antonik. The input of Gold Coast Titans development staff and qualified sports trainer Gary Johnston added to the professionalism of the program.

12 ‘value-added’ quality practical Rugby League training and core education sessions enhanced the abilities of participants. After a trial day, monthly core education sessions were held throughout the season. A variety of topics such as junior refereeing with the Gold Coast Referees Association, Financial Fitness with the Greater Building Society and cultural awareness were included.

A highlight was a program launch at the Emerald Lakes Golf Club together with the Gold Coast Junior Representative teams. The athletes met with Gold Coast Titan and Indigenous All-Star Ryan James who is the ambassador of the program.

To conclude the year’s activities, the athletes were offered 2 months of weekly

off-season training at the RACV Royal Pines Resort focusing on fitness, skill and technique. As a point of difference, the athletes joined in some fitness work with the GCAS Football squad for variety and to create a real community atmosphere for high performance sports development.

The Rugby League program is planning a 2-day pre-season camp to be held in January at the Runaway Bay Sport and Leadership Excellence Centre.


Rugby League

Jamal Idris from the Gold Coast Titans attended a pre-season promotion day for the program. Photo by GCAS media

With the sponsorship support of the Queensland Rugby League (SE QLD Division) and the in principle support of the Gold Coast District Junior Rugby League, this year’s program included 30 Indigenous and Non-Indigenous athletes. This was after being for Indigenous athletes only the previous year. The aim of the program is to help develop the next generation of community-minded Gold Coast Junior Representative players and athletes better equipped to perform in their own Gold Coast District Junior Rugby League team.


Jamal Idris from the Gold Coast Titans attended a pre-season promotion day for the program. Photo by GCAS media

Program Partners: Official Venues:

GCAS Rugby League squad members. Photo by GCAS media

Coaching Staff

Head Coach – Sid Doyle

Assistant Coaches – Kevin Thompson and Nathan Antonik

Sports Trainer/Coach - Gary Johnston

Athletes

Benjamin Bell, Zaarne Bourke, Bailey Court, Bailey Currie, Lachlan Douglas, Tyler Dunemann, Adrian Elder, E’Shea Gafa, Jackson Galwey, Bayley Gill, Daniel Hardin, Trai Georgetown-Hegarty, Jake Gleeson, Brandan Halliday-Thompson, Fletcher Harrold, Hayden Harrison, Martin Jack, Adam Lock, Jared Lock, Denzal Ngati, Ethan Page, Keenan Palasia, Kealey Parker, Jacob Roby, Slade Robinson, Tahj Smart, Tekapo Tuaine, Ezra Tuitapa-Issac, Tyler Van Zanden-North, Ethan Yuke

Royal PinesResort

Queensland Rugby League (SE division)Gold Coast District Junior Rugby LeagueGold Coast Titans

RACV Royal Pines ResortGold Coast Titans Centre of ExcellenceMudgeeraba & Helensvale JRLFC facilities

28

A great need was identified to develop a regional academy program. Prior to the establishment of the program, there were limited opportunities for committed pre-elite athletes outside of school hours. The sessions in Term One and Two were held at the St Hilda’s School Multi-Purpose Centre, Southport. For Terms 3 and 4, the program relocated under sponsorship to the Trinity Lutheran College Indoor Sports Hall. Access to a weights gym and classroom for core education sessions was also provided here meaning all activities could be held together at the one location.

The Program Coordinator was former QAS athlete and coach Aaron Alsop. The Head Coach was Andrew McCaskill who is a current national level coach and has well over 100 games of international match experience.

The addition of several quality assistant coaches meant the growing needs of athletes were constantly met.

An off-court high performance support team was established with students from Griffith University and this meant the athletes had access to a very high level of on and off court support. Roles for these support staff were created in areas such as sports science testing, strength and conditioning and video analysis/biomechanics.

Jessica Roche was named as the GCAS Female Athlete of the Year and she was just one of many athletes in the squad who gained a very high level of achievement on state and national junior representative stages. The Academy program also assisted in developing interest for the newly formed Gold Coast Volleyball League and Gold Coast ‘Festivolle’ of Volleyball.


Indoor VolleyballFollowing the establishment last year of a trial program, the GCAS Indoor Volleyball program created great interest with the program sponsorship support of Gold Coast Volleyball and Trinity Lutheran College. A large squad of athletes attended the 32 skill and game development sessions provided.

2012 GCAS Indoor Volleyball squad. Photo by GCAS media


Vertical jump testing. Photo by GCAS media

Program Partners: Official Venues:Gold Coast Volleyball St Hilda’s School, Southport

Trinity Lutheran College, Ashmore

Coaching Staff

Program Coordinator – Aaron Alsop

Head Coach – Andrew McCaskill

Assistant Coaches – Peter Grootenboer, William Alexander

Athletes

William Alexander, Gemma Anderton, Sarah Anzelotti, Lachlan Barker, Damian Bergsma, Karys Black, Elizabeth Boniface, Stephanie Boniface, Bede Bouzaid, Jordan Boxell, Carina Brennan, Brody Brooke, Anataia Brown, Emma Burton, Nathan Davies, Mitchel Dupen, Abby Byrne Hartmann, Carly Edwards, Edward Egger, Mattias Evaga, Spencer Evaga, Bryar Fairhall, Emily Faulkner, Kate Fordyce, Kane Galley, Tom Golden, Francis Goldfinch, Jake Grootenboer, Emily Haines, Hayley Hampson, Corey Harris, Samuel Harris, Andrew Hemmerling, Chelsea Herbert, Drew Herbert, Brendan Herd, Jonathan Hespe, Georgia Hjort, Zachary Hong, Kyle Jackson, Kathryn Jenkins, Danica Kloppers, Angela Kooymans, William Koskala, Harry Kryska, Flynn Loft, Nicole Marr, Callum Matthews, Charlotte McAneney, Sean McPhail, Jamie Meredith, Louis Milhaly, Jessica Morgan, Alana Neave, Yenifer Nino, Jayla Nokohoo-Badry, Megan Paige, Jessica Paul, Kehle Pelles, Rose Presto, Renee Reardon, Jessica Roche, Jennifer Sherwood, Sui Man Tang, Caitlin Thompson, Liam Thompson, Claudia Young, Amy Zhao

30

The Gold Coast is internationally renowned as a location for world-class Beach Volleyball. The regional academy program was designed to provide local committed pre-elite athletes with the opportunity to develop possibly into players capable of playing on the national tour or higher levels.

The Program Coordinator was former QAS athlete and coach Aaron Alsop and the Head Coach was Adam Thornley who is a former national U/21 champion in the sport. The program benefitted greatly from the input of some of Australia’s greats in the sport. 5-time Olympian and Gold medallist Natalie Cook was joined by her elite Coach Steve Anderson at the first camp to help coach the GCAS athletes. American MVP player Eddie Stokes also assisted with these coaching sessions. Olympic Gold medallist Kerri Pottharst also coached the GCAS athletes. A photo shoot, coaching session on Surfers Paradise beach and a core education session with Kerri were all organised.

The sessions in Terms Two and Three were held under sponsorship at the Runaway Bay Sport and Leadership Excellence Centre. In Term 4 with the support of the Gold Coast City Council and Steve Anderson who had returned from the London 2012 Olympics, several of the sessions were relocated to Surfers Paradise Beach to replicate the conditions the athletes would be likely to face in competition at this venue. The additional weekly sessions were held on the new Beach Volleyball court at Griffith University.

Beach VolleyballThe first full year program was held with the program sponsorship of Gold Coast Volleyball, Runaway Bay Sport and Leadership Excellence Centre and the Gold Coast City Council. Following the interest generated in 2 initial camps, a weekly program was then able to be offered in Terms 2 and 3 and this expanded to twice weekly in Term 4 for the Tier One athlete group. 22 athletes overall were involved in the skill and game development training sessions.

Olympic Gold medallist Kerri Pottharst at a GCAS coaching on Surfers Paradise beach. Photo by GCAS media


31

Coaching Staff

Program Coordinator – Aaron Alsop

Head Coach – Adam Thornley

Coaching Coordinator – Steve Anderson

Athletes

Angus Berg, Damien Bergsma, Karys Black, Jordan Boxell, Carina Brennan, Abby Byrne-Hartmann, Kate Fordyce, Brenton Gibson, Portia Gunthorpe, Veronica Lawrence, Aliki Lee, Jamie Liu, Leandro Lombardi, Tenneil Macmaster, Taisha Martin, Jessica Morgan, Megan Nestor, Phillip Nguyen, Kehle Pelles, Rose Presto, Renee Reardon, Liliia Samysheva

2012 GCAS Beach Volleyball squad. Photo by GCAS media

Program Partners: Official Venues:Gold Coast VolleyballRunaway Bay Sports Super CentreGold Coast City Council

Runaway Bay Sports Super CentreSurfers Paradise Beach


32

16 athletes aged U/13-U/16 who are currently registered with a local Basketball association and/or play at a junior representative level joined the program when it started in July. Former NBL player Thalo Green was the Head Coach and he provided a series of challenging coaching and game simulation drills aimed to improve the performance level of the athletes in their respective teams.

The other point of difference for the program was the inclusion of sport science testing and fitness development with students from

Griffith University. The Basketball and Indoor Volleyball programs were held at the same location allowing this additional support to be shared for the benefit of the athletes in both programs. Core education sessions on nutrition, Financial Fitness and public speaking were also offered.

BasketballWith the in-principle support of Gold Coast Basketball and Seahawks GC Basketball and the program sponsorship of Trinity Lutheran College, the GCAS Basketball program completed its first full year of operation. Additional skill development sessions with a focus on technique improvement in the sport were offered together with a number of core education sessions.

GCAS Basketball inaugural squad members together with coach Thalo Green. Photo by GCAS media


33

Coaching Staff

Head Coach – Thalo Green

Athletes

Madeline Anderson, Ashley Birmingham, Gus Carey, Matthew Downes, Zeke Dunrobin, Cameron Goldfinch, Michelle Gullotta, Bailey Jarrett, Keagan Kirkwood, Jonathan Odlander, Chase Riley, Nathan Schmidt, Andrew Veh, Tyson Wilson

Basketball skill development drills. Photo by GCAS media

Program Partners: Official Venue:Gold Coast BasketballSeahawks GC Basketball

Trinity Lutheran College, Ashmore


34

Coaching Staff

Head Coach - Cathy Townsend

Assistant Coach - Graeme Townsend

Athletes

Matilda Alexandersson, Jesse Barnett, Morgan Barnett, Austin Carpenter, Dylan Carpenter, Gabriel Dequina, Jordan Dequina, Jake Duffy, Shane Futcher, Benjamin Gould, Ben Houghton, Keryn Hunt, Mimi Kim, Ben Lander, Zabrynn Lander, Kane Townsend, Wade Townsend, Keiran Werner, Naoya Yamamoto

Male and female athletes aged U/13-U/23 who are currently registered with the Gold Coast Table Tennis association were invited to join the program when it started in September at the Gold Coast Table Tennis Association Centre’s headquarters at Molendinar. Sessions for the Academy squad were held on Sunday afternoons following regular squad training.

Queensland Director of Coaching Cathy Townsend was the Head Coach and Queensland High Performance Manager Graeme Townsend was the assistant coach. Together they provided a series of challenging coaching and game simulation drills.

Sport science testing and fitness development with students from Griffith University was an aspect many of the athletes had not experienced before. All athletes were evaluated in a battery of tests and this helped 5 members of the squad to be awarded a medal at the National Junior Championships in Perth.

A highlight of the program was the attendance of Australian Olympic Head Coach Jens Lang at the program orientation. Jens shared his experiences of coaching at the London Olympics and he read aloud the Olympic Creed. Karatani Tetsuo from Japan was another guest coach who brought international level experience and was welcomed into the program.

Table TennisWith the in-principle support of Table Tennis Australia, Table Tennis Queensland and the program sponsorship of the Gold Coast Table Tennis Association, Safeway Self-Storage and Table Tennis World, the first ever GCAS Table Tennis program started in September for this Olympic and Commonwealth Games sport. A squad of 19 talented athletes gained benefit from the additional skill development sessions with a focus on technique improvement in the sport together with a number of core education sessions.

Table Tennis skill development drills. Photo by GCAS media


35

GCAS Table Tennis Squad inaugural squad members. Photo by GCAS media

Australian Olympic Head Table Tennis Coach Jens Lang attended the program orientation. Photo by GCAS media

Program Partners: Official Venue:Gold Coast Table Tennis AssociationSafeway Self-StorageTable Tennis World

Gold Coast Table Tennis Association, Molendinar


36 2012 Awards Night

On October 31st at the RACV Royal Pines Resort, over 400 people were present to recognise this year’s GCAS scholarship athletes for their efforts. Graduation Certificates were presented to all athletes and trophy awards were presented by VIPs to selected athletes to recognise outstanding achievement and to provide encouragement.

The recipient of the 2012 Academy Male Athlete of the Year for a second year was Daniel Coleman. Daniel backed up a stellar 2011 by gaining further honours representing Australia in Athletics and Triathlon. He represented Australia in the World ITU Triathlon championships in New Zealand and was named the 2012 QLD Junior elite male triathlete of the year. In athletics he travelled to Malta for the World Cross Country Championships all while studying for his Year 12. He has also taken his efforts to the sand winning Gold medals at state surf lifesaving events in the 2km open beach runs.

The Gold Coast Academy of Sport’s Female Athlete of the Year Award recipient was Jessica Roche from the Indoor Volleyball program. Jessica had a long list of achievements in 2012 including first place in the Queensland Indoor Volleyball Championships and the inaugural Gold Coast Festivolle of Volleyball. She was

a member of the South Coast Indoor rep team and showed her versatility also in Beach Volleyball by coming first in the U/17 Junior Beach Volleyball Championships for Queensland and fifth in Australia.

The recipient of the Chairman’s Award was Kenza Benzenati. Kenza has been a member of the GCAS Future Stars north program for 2 years. In Athletics this year, she participated in three events at the National Youth Athletics Championships in the 2km steeplechase and the 3 and 5km walk events. She also represented Queensland at the All Schools National Championships. She hopes one day to represent Australia in Athletics and study medicine at University.

Awards Night recognises Athlete achievement

Kenza Benzenati receiving the Chairman’s Award from the Hon. Mick Veivers. Photo by Paul Christou

37

Daniel Coleman receiving his award from Olympic Hockey Gold medallist Brent Livermore OAM. Photo by Paul Christou

2012 Awards Night

Special guest interview with Brent Livermore. Photo by Paul Christou

GCAS Football (Soccer) athletes enjoying the ‘celebrating success’ after function. Photo by Paul Christou

Jessica Roche - GCAS Female Athlete of the Year. Photo by Paul Christou

Rebecca Kay - Golf program athlete of the year Photo by Paul Christou

Brenton Gibson - Beach Volleyball program athlete of the year Photo by Paul Christou

38 2012 Awards Night

2012 Awards and Honour Roll2012 Major AwardsMale Athlete of the Year Daniel Coleman (Future Stars/Triathlon)

Female Athlete of the Year Jessica Roche (Indoor Volleyball)

Chairman’s Award Kenza Benzenati (Future Stars/Athletics)

2012 Sport Program AwardsGolf Encouragement Award Peter Lyon Athlete of the Year Rebecca Kay

Future Stars (north) Encouragement Award Calvin Quirk Athlete of the Year Daniel Coleman

Football Encouragement Award Jonah Gele Athlete of the Year Andrew Alighieri

Rugby League Encouragement Award Bailey Court Athlete of the Year Jared Lock

Future Stars (south) Encouragement Award Jake Gleeson Athlete of the Year Jacob Roby

Indoor Volleyball Encouragement Award Jamie Meredith Athlete of the Year Jessica Roche

Beach Volleyball Encouragement Award Taisha Martin Athlete of the Year Brenton Gibson

GCAS Honour Roll2010 Male Athlete of the Year Jackson Hill (Football/Soccer) Female Athlete of the Year Katelyn Simpson (Future Stars) Chairman’s Award Dee Dee Russell (Golf)

2011 Male Athlete of the Year Daniel Coleman (Triathlon) Female Athlete of the Year Katelyn Simpson (Future Stars) Chairman’s Award Tiana Beakey (Golf)

39

Finance Reports 2012

40

Gold Coast Academy of Sport Ltd

ABN 63 120 724 414

Financial Statements

For the year ended 31 December 2012

Macquarie Partners Central CoastUnit 2, 3A Racecourse Road

Gosford 2250

Phone: 02 4324 9177 Fax: 02 4324 9055

Email: [email protected]

41

Gold Coast Academy of Sport Ltd

ABN 63 120 724 414

Financial Statements

For the year ended 31 December 2012

Macquarie Partners Central CoastUnit 2, 3A Racecourse Road

Gosford 2250

Phone: 02 4324 9177 Fax: 02 4324 9055

Email: [email protected]

Gold Coast Academy of Sport LtdABN 63 120 724 414

Contents

Directors' Report

Auditor's Independence Declaration

Trading Account

Detailed Statement of Financial Performance

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Statement of Cash Flows

Notes to the Financial Statements

Directors' Declaration

Pool Depreciation Report

Independent Auditor's Report

48


Trading AccountFor the year ended 31 December 2012

2012 2011$ $

Trading Income

Sales 1,068 2,933

Total Trading Income 1,068 2,933

Cost of Sales

Add:

Opening finished goods 22,410 -

Purchases 1,823 32,689

24,233 32,689

Less:

Closing finished goods 19,393 22,410

19,393 22,410

Cost of Sales 4,841 10,279

Gross Loss from Trading (3,773) (7,346)

The accompanying notes form part of these financial statements.


Detailed Statement of Financial PerformanceFor the year ended 31 December 2012

2012 2011$ $

Income

Trading profit (loss) (3,773) (7,346)

Interest received 4,987 5,855

Local Government / Council funding 149,726 124,300

Sponsorship income 167,628 315,780

Athletes registration fees 22,475 21,528

Other Income 10,444 9,658

Total income 351,487 469,775

Expenses

Accountancy 11,650 14,100

Advertising and promotion 155,422 256,420

Assets <$1,000 3,561 653

Audit fees 3,240 3,100

Bank fees and charges 14 4

Cleaning/rubbish removal 436 -

Computer Expenses 3,399 1,329

Conference/seminar costs 1,400 1,919

Consultancy fees 31,000 31,400

Depreciation 1,725 1,000

Filing fees 43 42

Insurance - General 4,089 3,814

Insurance - Workers Compensation 1,182 828

Membership fees 50 50

Motor Vehicle - Fuel & Oil 2,236 2,471

Motor Vehicle - Parking 16 68

Printing, Postage & stationery 7,562 4,223

Provision for annual leave 918 6,161

Repairs & maintenance 506 -

Sponsorships awarded 5,400 -

Staff amenities 127 -

Storage fees 1,103 2,375

Superannuation 6,088 5,498

Telephone 1,219 999

Travel, accom & conference 9,261 5,081

Uniforms 6,002 9,906

Wages 68,068 61,085


49


Trading AccountFor the year ended 31 December 2012

2012 2011$ $

Trading Income

Sales 1,068 2,933

Total Trading Income 1,068 2,933

Cost of Sales

Add:

Opening finished goods 22,410 -

Purchases 1,823 32,689

24,233 32,689

Less:

Closing finished goods 19,393 22,410

19,393 22,410

Cost of Sales 4,841 10,279

Gross Loss from Trading (3,773) (7,346)




2012 2011$ $

Income

Trading profit (loss) (3,773) (7,346)






Total income 351,487 469,775

Expenses

Accountancy 11,650 14,100

Advertising and promotion 155,422 256,420

Assets <$1,000 3,561 653

Audit fees 3,240 3,100

Bank fees and charges 14 4

Cleaning/rubbish removal 436 -

Computer Expenses 3,399 1,329

Conference/seminar costs 1,400 1,919

Consultancy fees 31,000 31,400


Filing fees 43 42

Insurance - General 4,089 3,814

Insurance - Workers Compensation 1,182 828

Membership fees 50 50

Motor Vehicle - Fuel & Oil 2,236 2,471

Motor Vehicle - Parking 16 68

Printing, Postage & stationery 7,562 4,223

Provision for annual leave 918 6,161

Repairs & maintenance 506 -

Sponsorships awarded 5,400 -

Staff amenities 127 -

Storage fees 1,103 2,375

Superannuation 6,088 5,498

Telephone 1,219 999

Travel, accom & conference 9,261 5,081

Uniforms 6,002 9,906

Wages 68,068 61,085


50



2012 2011$ $

Total expenses 325,717 412,526

Profit from Ordinary Activities before income tax 25,770 57,249


51



2012 2011$ $

Total expenses 325,717 412,526

Profit from Ordinary Activities before income tax 25,770 57,249



Statement of Comprehensive IncomeFor the year ended 31 December 2012

Note 2012 2011$ $

Classification of Expenses by Nature

Revenues from ordinary activities 2 356,328 480,054

Changes in inventories of:

- Finished goods (3,017) 22,410

Raw materials and consumables used (1,823) (32,689)

Depreciation and amortisation expenses 3 (1,725) (1,000)

Other expenses from ordinary activities (323,992) (411,526)

Profit from ordinary activities before income tax 2 25,770 57,249

3 - -

Income tax revenue relating to ordinary activities - -

Net profit attributable to members of the company 25,770 57,249

Total changes in equity other than those resulting fromtransactions with owners as owners 25,770 57,249

Opening retained profits 154,784 97,535

Net profit attributable to members of the company 25,770 57,249

Closing retained profits 180,554 154,784


52


Statement of Financial Position As At 31 December 2012

Note 2012 2011$ $

Current Assets

Cash assets 4 217,925 184,667

Receivables 5 20,545 31,255

Inventories 6 19,393 22,410

Other 7 6,283 3,992

Total Current Assets 264,146 242,324

Non-Current Assets

Property, plant and equipment 8 5,979 3,797

Other 7 2,075 2,075

Total Non-Current Assets 8,054 5,872

Total Assets 272,199 248,196

Current Liabilities

Payables 10 8,696 11,380

Financial liabilities 11 871 871

Provisions 12 7,079 6,161

Other 13 75,000 75,000

Total Current Liabilities 91,646 93,412

Total Liabilities 91,646 93,412

Net Assets 180,554 154,784

Equity

Retained profits 180,554 154,784

Total Equity 180,554 154,784



Statement of Changes in EquityNotes Retained

ProfitsTotal

Balance at 01/01/2011 - -

Subtotal - -

Balance at 31/12/2011 154,784 154,784

Total other comprehensive income for the year 25,770 25,770Subtotal 180,554 180,554

Balance at 31/12/2012 180,554 180,554

53


Statement of Financial Position As At 31 December 2012

Note 2012 2011$ $

Current Assets

Cash assets 4 217,925 184,667

Receivables 5 20,545 31,255

Inventories 6 19,393 22,410

Other 7 6,283 3,992

Total Current Assets 264,146 242,324

Non-Current Assets

Property, plant and equipment 8 5,979 3,797

Other 7 2,075 2,075

Total Non-Current Assets 8,054 5,872

Total Assets 272,199 248,196

Current Liabilities

Payables 10 8,696 11,380

Financial liabilities 11 871 871

Provisions 12 7,079 6,161

Other 13 75,000 75,000

Total Current Liabilities 91,646 93,412

Total Liabilities 91,646 93,412

Net Assets 180,554 154,784

Equity

Retained profits 180,554 154,784

Total Equity 180,554 154,784



Statement of Changes in EquityNotes Retained

ProfitsTotal

Balance at 01/01/2011 - -

Subtotal - -

Balance at 31/12/2011 154,784 154,784

Total other comprehensive income for the year 25,770 25,770Subtotal 180,554 180,554

Balance at 31/12/2012 180,554 180,554

54


Statement of Cash FlowsFor the year ended 31 December 2012

2012 2011$ $

Cash Flow From Operating Activities

Receipts from customers 362,051 452,340

Payments to Suppliers and employees (329,874) (395,392)


Net cash provided by (used in) operating activities (note 2) 37,164 62,804

Cash Flow From Investing Activities

Payment for:

Payments for property, plant and equipment (3,906) (2,930)

Net cash provided by (used in) investing activities (3,906) (2,930)

Net increase (decrease) in cash held 33,258 59,874

Cash at the beginning of the year 184,667 124,793

Cash at the end of the year (note 1) 217,925 184,667




2012 2011

Note 1. Reconciliation Of Cash

For the purposes of the statement of cash flows, cashincludes cash on hand and in banks and investments inmoney market instruments, net of outstanding bankoverdrafts.

Cash at the end of the year as shown in the statement of cashflows is reconciled to the related items in the balance sheet asfollows:

Cash at bank 217,925 184,667

217,925 184,667

Note 2. Reconciliation Of Net Cash Provided By/Used In Operating Activities To NetProfit

Operating profit (loss) after tax 25,770 57,249


Changes in assets and liabilities net of effects of purchasesand disposals of controlled entities:

(Increase) decrease in trade and term debtors 10,710 (21,859)

(Increase) decrease in finished goods 3,017 (22,410)

(Increase) decrease in prepayments (2,292) (1,007)

Increase (decrease) in trade creditors and accruals 356 (2,567)

Increase (decrease) in other creditors (3,041) 46,237

Increase (decrease) in employee entitlements 918 6,161

Net cash provided by operating activities 37,164 62,804


55



2012 2011$ $

Cash Flow From Operating Activities

Receipts from customers 362,051 452,340

Payments to Suppliers and employees (329,874) (395,392)


Net cash provided by (used in) operating activities (note 2) 37,164 62,804

Cash Flow From Investing Activities

Payment for:

Payments for property, plant and equipment (3,906) (2,930)

Net cash provided by (used in) investing activities (3,906) (2,930)

Net increase (decrease) in cash held 33,258 59,874

Cash at the beginning of the year 184,667 124,793

Cash at the end of the year (note 1) 217,925 184,667




2012 2011

Note 1. Reconciliation Of Cash

For the purposes of the statement of cash flows, cashincludes cash on hand and in banks and investments inmoney market instruments, net of outstanding bankoverdrafts.

Cash at the end of the year as shown in the statement of cashflows is reconciled to the related items in the balance sheet asfollows:

Cash at bank 217,925 184,667

217,925 184,667

Note 2. Reconciliation Of Net Cash Provided By/Used In Operating Activities To NetProfit

Operating profit (loss) after tax 25,770 57,249


Changes in assets and liabilities net of effects of purchasesand disposals of controlled entities:

(Increase) decrease in trade and term debtors 10,710 (21,859)

(Increase) decrease in finished goods 3,017 (22,410)

(Increase) decrease in prepayments (2,292) (1,007)

Increase (decrease) in trade creditors and accruals 356 (2,567)

Increase (decrease) in other creditors (3,041) 46,237

Increase (decrease) in employee entitlements 918 6,161

Net cash provided by operating activities 37,164 62,804


56


Notes to the Financial StatementsFor the year ended 31 December 2012

Note 1: Statement of Significant Accounting Policies

The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standardsand other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001.

The financial report covers Gold Coast Academy of Sport Ltd as an individual entity. Gold Coast Academy of Sport Ltd isa company limited by guarantee incorporated and domiciled in Australia.

The financial report has been prepared on an accruals basis and is based on historical costs and does not take into accountchanging money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values ofthe consideration given in exchange for assets.

The following is a summary of the material accounting policies adopted by the economic entity in the preparation of thefinancial report. The accounting policies have been consistently applied, unless otherwise stated.

Income tax

The company is treated as a sporting body under Section 50-45 item 9.1 of the Income Tax Assessment Act 1997, andtherefore it is exempt from income tax on all income it derives.

Inventories

Inventories are measured at the lower of cost and net realisable value. Costs are assigned on a first-in first-out basis.

The cost of manufactured products includes direct materials, direct labour and an appropriate portion of variable and fixedoverheads. Overheads are applied on the basis of normal operating capacity. Costs are assigned on the basis of weightedaverage costs.

Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulateddepreciation.

a) Property

Freehold land and buildings are measured on the fair value basis, being the amount for which an asset could be exchangedbetween knowledgeable willing parties in an arm's length transaction. It is a policy of Gold Coast Academy of SportLtd to have an independent valuation every three years, with annual appraisals being made by the directors.

The revaluation of freehold land and buildings has not taken account of the potential capital gains tax on assets acquiredafter the introduction of capital gains tax.

b) Plant and equipment

The carrying amount of plant and equipment is reviewed annually to ensure it is not in excess of the recoverable amountfrom those assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be receivedfrom the assets employment and subsequent disposal. The expected net cash flows have not been discounted topresent values in determining the recoverable amounts.

The cost of fixed assets constructed within Gold Coast Academy of Sport Ltd includes the cost of materials, directlabour, borrowing costs and an appropriate proportion of fixed and variable overheads.

c) Depreciation

The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding freehold land, isdepreciated on a diminishing basis over their useful lives to Gold Coast Academy of Sport Ltd commencing from thetime the asset is held ready for use. Properties held for investment purposes are not subject to a depreciation charge. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimateduseful lives of the improvements.




The depreciation rates used for each class of depreciable asset are:

Class of Asset Depreciation Rate %

General Pool 30% [15% first yearof ownership]

Leases

Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset, but not legalownership, are transferred to Gold Coast Academy of Sport Ltd are classified as finance leases. Finance leases arecapitalised recording an asset and a liability equal to the present value of the minimum lease payments, including anyguaranteed residual value.

Leased assets are depreciated on a straight line basis over their estimated useful lives where it is likely that ownership of theasset will be obtained or over the term of the lease. Lease payments are allocated between the reduction of the lease liabilityand the lease interest expense for the period.

Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are charged asexpenses in the periods in which they are incurred.

Lease incentives under operating leases are recognised as a liability. Lease payments received reduce the liability.

Investments

Shares in listed companies held as current assets are valued at those shares' market value at each balance date. The gains orlosses, whether realised or unrealised, are included in profit from ordinary activities before income tax.

Non-current investments are measured on the cost basis. The carrying amount of non-current investments is reviewedannually to ensure it is not in excess of the recoverable amount of these investments. The recoverable amount is assessedfrom the quoted market value for listed investments or the underlying net assets for other non-listed investments.

The expected net cash flows from investments have not been discounted to their present value in determining the recoverableamounts.

Intangibles

a) Goodwill

Goodwill is initially recorded at the amount by which the purchase price for a business exceeds the fair value attributedto its net assets at the date of acquisition. Purchased goodwill is amortised on a straight-line basis over the period of 20years. The balance is reviewed annually and any balance representing future benefits for which the realisation isconsidered to be no longer probable is written off.

b) Patents and Trademarks

Patents and Trademarks are valued in the accounts at cost of acquisition and are amortised over the period in which theirbenefits are expected to be realised.


57



Note 1: Statement of Significant Accounting Policies

The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standardsand other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001.

The financial report covers Gold Coast Academy of Sport Ltd as an individual entity. Gold Coast Academy of Sport Ltd isa company limited by guarantee incorporated and domiciled in Australia.

The financial report has been prepared on an accruals basis and is based on historical costs and does not take into accountchanging money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values ofthe consideration given in exchange for assets.

The following is a summary of the material accounting policies adopted by the economic entity in the preparation of thefinancial report. The accounting policies have been consistently applied, unless otherwise stated.

Income tax

The company is treated as a sporting body under Section 50-45 item 9.1 of the Income Tax Assessment Act 1997, andtherefore it is exempt from income tax on all income it derives.

Inventories

Inventories are measured at the lower of cost and net realisable value. Costs are assigned on a first-in first-out basis.

The cost of manufactured products includes direct materials, direct labour and an appropriate portion of variable and fixedoverheads. Overheads are applied on the basis of normal operating capacity. Costs are assigned on the basis of weightedaverage costs.

Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulateddepreciation.

a) Property

Freehold land and buildings are measured on the fair value basis, being the amount for which an asset could be exchangedbetween knowledgeable willing parties in an arm's length transaction. It is a policy of Gold Coast Academy of SportLtd to have an independent valuation every three years, with annual appraisals being made by the directors.

The revaluation of freehold land and buildings has not taken account of the potential capital gains tax on assets acquiredafter the introduction of capital gains tax.

b) Plant and equipment

The carrying amount of plant and equipment is reviewed annually to ensure it is not in excess of the recoverable amountfrom those assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be receivedfrom the assets employment and subsequent disposal. The expected net cash flows have not been discounted topresent values in determining the recoverable amounts.

The cost of fixed assets constructed within Gold Coast Academy of Sport Ltd includes the cost of materials, directlabour, borrowing costs and an appropriate proportion of fixed and variable overheads.

c) Depreciation

The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding freehold land, isdepreciated on a diminishing basis over their useful lives to Gold Coast Academy of Sport Ltd commencing from thetime the asset is held ready for use. Properties held for investment purposes are not subject to a depreciation charge. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimateduseful lives of the improvements.




The depreciation rates used for each class of depreciable asset are:

Class of Asset Depreciation Rate %

General Pool 30% [15% first yearof ownership]

Leases

Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset, but not legalownership, are transferred to Gold Coast Academy of Sport Ltd are classified as finance leases. Finance leases arecapitalised recording an asset and a liability equal to the present value of the minimum lease payments, including anyguaranteed residual value.

Leased assets are depreciated on a straight line basis over their estimated useful lives where it is likely that ownership of theasset will be obtained or over the term of the lease. Lease payments are allocated between the reduction of the lease liabilityand the lease interest expense for the period.

Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are charged asexpenses in the periods in which they are incurred.

Lease incentives under operating leases are recognised as a liability. Lease payments received reduce the liability.

Investments

Shares in listed companies held as current assets are valued at those shares' market value at each balance date. The gains orlosses, whether realised or unrealised, are included in profit from ordinary activities before income tax.

Non-current investments are measured on the cost basis. The carrying amount of non-current investments is reviewedannually to ensure it is not in excess of the recoverable amount of these investments. The recoverable amount is assessedfrom the quoted market value for listed investments or the underlying net assets for other non-listed investments.

The expected net cash flows from investments have not been discounted to their present value in determining the recoverableamounts.

Intangibles

a) Goodwill

Goodwill is initially recorded at the amount by which the purchase price for a business exceeds the fair value attributedto its net assets at the date of acquisition. Purchased goodwill is amortised on a straight-line basis over the period of 20years. The balance is reviewed annually and any balance representing future benefits for which the realisation isconsidered to be no longer probable is written off.

b) Patents and Trademarks

Patents and Trademarks are valued in the accounts at cost of acquisition and are amortised over the period in which theirbenefits are expected to be realised.


58



Employee entitlements

Provision is made for the liability for employee entitlements arising from services rendered by employees to balance date. Employee entitlements expected to be settled within one year together with entitlements arising from wages and salaries,annual leave and sick leave which will be settled after one year, have been measured at their nominal amount. Otheremployee entitlements payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those entitlements.

Contributions are made by Gold Coast Academy of Sport Ltd to an employee superannuation fund and are charged asexpenses when incurred.

Gold Coast Academy of Sport Ltd does not record, as an asset or a liability, the difference between the employerestablished defined benefit superannuation plan's accrued benefits and the net market value of the plans assets.

Gold Coast Academy of Sport Ltd operates an ownership-based remuneration scheme, details of which are provided in theNotes to Accounts. Profits or losses incurred by employees, being the difference between the market value and the parvalue of the shares acquired, are not recorded as remuneration paid to employees.

Cash

For the purpose of the statement of cash flows, cash includes cash on hand and in all call deposits with banks or financialinstitutions, investments in money market instruments maturing within less than two months, net of bank overdrafts.

Goods and Service Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is notrecoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the cost ofacquisition of the asset or as part of an item of the expense. Receivables and payables in the balance sheet are showninclusive of GST. Cash flows are presented in the cash flow statement on a gross basis, except for the GST component ofinvesting and financing activities, which are disclosed as operating cash flows.

Revenue

Revenue from the sale of goods is recognised upon the delivery of goods to customers.

Interest revenue is recognised on a proportional basis taking in to account the interest rates applicable to the financial assets.

Dividend revenue is recognised when the right to receive a dividend has been established. Dividends received from associatesand joint venture entities are accounted for in accordance with the equity method of accounting.

Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.

All revenue is stated net of the amount of goods and services tax (GST).




Note 2: Revenue and Other Income

Sales revenue:

Non-primary production trading revenue 1,068 2,933

1,068 2,933

Other revenue:

Interest revenue* 4,987 5,855





355,260 477,121

Interest Income 4,987 5,855

Note 3: Profit from Ordinary Activities

Profit (loss) from ordinary activities before income tax hasbeen determined after:

Charging as Expense:

Cost of goods sold 4,841 10,279

Depreciation of non-current assets:

- Plant and equipment 1,725 1,000

Total depreciation expenses 1,725 1,000


59



Employee entitlements

Provision is made for the liability for employee entitlements arising from services rendered by employees to balance date. Employee entitlements expected to be settled within one year together with entitlements arising from wages and salaries,annual leave and sick leave which will be settled after one year, have been measured at their nominal amount. Otheremployee entitlements payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those entitlements.

Contributions are made by Gold Coast Academy of Sport Ltd to an employee superannuation fund and are charged asexpenses when incurred.

Gold Coast Academy of Sport Ltd does not record, as an asset or a liability, the difference between the employerestablished defined benefit superannuation plan's accrued benefits and the net market value of the plans assets.

Gold Coast Academy of Sport Ltd operates an ownership-based remuneration scheme, details of which are provided in theNotes to Accounts. Profits or losses incurred by employees, being the difference between the market value and the parvalue of the shares acquired, are not recorded as remuneration paid to employees.

Cash

For the purpose of the statement of cash flows, cash includes cash on hand and in all call deposits with banks or financialinstitutions, investments in money market instruments maturing within less than two months, net of bank overdrafts.

Goods and Service Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is notrecoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the cost ofacquisition of the asset or as part of an item of the expense. Receivables and payables in the balance sheet are showninclusive of GST. Cash flows are presented in the cash flow statement on a gross basis, except for the GST component ofinvesting and financing activities, which are disclosed as operating cash flows.

Revenue

Revenue from the sale of goods is recognised upon the delivery of goods to customers.

Interest revenue is recognised on a proportional basis taking in to account the interest rates applicable to the financial assets.

Dividend revenue is recognised when the right to receive a dividend has been established. Dividends received from associatesand joint venture entities are accounted for in accordance with the equity method of accounting.

Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.

All revenue is stated net of the amount of goods and services tax (GST).




Note 2: Revenue and Other Income

Sales revenue:

Non-primary production trading revenue 1,068 2,933

1,068 2,933

Other revenue:

Interest revenue* 4,987 5,855





355,260 477,121

Interest Income 4,987 5,855

Note 3: Profit from Ordinary Activities

Profit (loss) from ordinary activities before income tax hasbeen determined after:

Charging as Expense:

Cost of goods sold 4,841 10,279

Depreciation of non-current assets:

- Plant and equipment 1,725 1,000

Total depreciation expenses 1,725 1,000


60



Note 4: Cash assets

Bank accounts:

Cash at bank 217,925 184,667

217,925 184,667

Reconciliation of Cash:

Cash at the end of the financial year as shown in thestatement of cash flows is reconciled to items in thestatement of financial position as follows:

- Cash 217,925 184,667

217,925 184,667

Note 5: Receivables

Current

Trade debtors 20,545 31,255

20,545 31,255

Note 6: Inventories

Current

Finished goods at cost 19,393 22,410

19,393 22,410




Note 7: Other Assets

Current

Prepayments 6,283 3,992

6,283 3,992

Non Current

Preliminary expenses 2,075 2,075

Less: accumulated amortisation - -

2,075 2,075

Note 8: Property, Plant and Equipment

Other property, plant and equipment:

- At cost 5,979 3,797

- Less: Accumulated depreciation - -

5,979 3,797

5,979 3,797

Note 10: Payables

Unsecured:

- Trade creditors 1,054 698

1,054 698

Unsecured:

- Other creditors 7,641 10,682

7,641 10,682

8,696 11,380


61



Note 4: Cash assets

Bank accounts:

Cash at bank 217,925 184,667

217,925 184,667

Reconciliation of Cash:

Cash at the end of the financial year as shown in thestatement of cash flows is reconciled to items in thestatement of financial position as follows:

- Cash 217,925 184,667

217,925 184,667

Note 5: Receivables

Current

Trade debtors 20,545 31,255

20,545 31,255

Note 6: Inventories

Current

Finished goods at cost 19,393 22,410

19,393 22,410




Note 7: Other Assets

Current

Prepayments 6,283 3,992

6,283 3,992

Non Current

Preliminary expenses 2,075 2,075

Less: accumulated amortisation - -

2,075 2,075

Note 8: Property, Plant and Equipment

Other property, plant and equipment:

- At cost 5,979 3,797

- Less: Accumulated depreciation - -

5,979 3,797

5,979 3,797

Note 10: Payables

Unsecured:

- Trade creditors 1,054 698

1,054 698

Unsecured:

- Other creditors 7,641 10,682

7,641 10,682

8,696 11,380


62



Note 11: Financial Liabilities

Current

Unsecured:- Other loans 871 871

871 871

871 871

Note 12: Provisions

Current

Employee entitlements* 7,079 6,161

7,079 6,161

* Aggregate employee entitlements liability 7,079 6,161

There were 2 employees at the end of the year

Note 13: Other Liabilities

Current

Advance payments 75,000 75,000

75,000 75,000

Note 14: Auditors' Remuneration

Remuneration of the auditor of the company for:

Auditing or reviewing the financial report 3,240 3,100

Other services - -

3,240 3,100


63



Note 11: Financial Liabilities

Current

Unsecured:- Other loans 871 871

871 871

871 871

Note 12: Provisions

Current

Employee entitlements* 7,079 6,161

7,079 6,161

* Aggregate employee entitlements liability 7,079 6,161

There were 2 employees at the end of the year

Note 13: Other Liabilities

Current

Advance payments 75,000 75,000

75,000 75,000

Note 14: Auditors' Remuneration

Remuneration of the auditor of the company for:

Auditing or reviewing the financial report 3,240 3,100

Other services - -

3,240 3,100




Note 15: Related Parties

Director-Related Entities

Transactions with director-related entities:

During the year ended 31 December 2012, Gold CoastAcademy of Sport Limited entered into a contract withCentral Coast Academy of Sport for whom Ian Robilliardand Mark Holton are directors, to provide operationalassistance 15,000 14,300

During the year ended 31 December 2012, Gold CoastAcademy of Sport Limited entered into a contract withSkilled Sports Pty Limited for whom Ian Robilliard is adirector, to provide operational assistance 15,000 20,240

During the year ended 31 December 2012, Gold CoastAcademy of Sport Limited entered into a contract withDynamic Taxation & Training Services for whom MarkHolton is a director, to provide accounting and taxationassistance 11,880 15,510


65

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2012 Annual Report

Postal Address PO Box 433, Ashmore City QLD 4214

Email [email protected]

Web www.goldsport.com.au

ABN 63 120 724 414

GoldenOpportunities ThroughSport

2012 gcas annual report

Documents

gcas mediaall athletes

successive year

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previous year

year of operation

gold coast academy of

board of directors

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