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Golf Queensland Annual Report Year Ended 31 December 2013 Page 33

Golf Queensland LimitedAnnual ReportFor the year ending 31 December 2013

2013 Queensland Boy’s State Team after winning the PJ Davies Plate


Golf Queensland Limited

A.C.N. 126 091 450

A.B.N. 54 126 091 450

14 Walden Lane

BOWEN HILLS 4006

GPO Box 1518

BRISBANE QLD 4001

T: (07) 3252 8155

F: (07) 3257 1520

W: www.golfqueensland.org.au

Front cover image: 2013 Isuzu Queensland Open winner Nick Cullen.

Contents

Board of Directors 2

Staff 3

Chair’s Report 4

Strategic Plan Driver One: Participation 5

Strategic Plan Driver Two: Golf Services 6

Strategic Plan Driver Three: Business Growth 8

Strategic Plan Driver Four: Organisational Excellence 9

Strategic Plan Driver Five: Talented Player Development 10

Committees & Volunteers 11

Queensland Championship Results 12

Interstate Representative Fixtures 14

Financial Report 15

Affiliated Club’s Membership 43

Golf Queensland Annual Report Year Ended 31 December 2013Page 2 2

Board of Directors

Tom Crothers *

Matthew Toomey

Patrick Twomey +

Peter Castrisos (Chair)

Lorraine Matthews

Graeme Mathers *Judy Logan

Carmel O’Keeffe

David Brett

David Bell +

* Resigned from the Board in 2013

+ Elected to the Board in 2013


Staff

Back Row (L - R)

Matthew Sedgman Finance Manager

Lindsay Ellis Chief Executive Officer

Luke Bates Manager - Golf Operations

Tony Meyer Head Coach

Adrian Hewat Manager - Participation Development

Chris Evans Golf Operations Officer

Matt Field Golf Operations Officer

Front Row (L – R)

Lee Harrington Participation Development Officer

Claire Power Communications and Marketing Manager

Virginia Irwin Program Officer

Janelle Spencer Communications and Marketing Officer

Jillian Johnson Administration Officer


Chair ’s Report

The 2013 year has proven to be a great year for golf’s profile with the magnificent performance of Queenslander Adam Scott in becoming the first Australian to win the US Masters Tournament. The win was a great boost to the golf industry in Australia with an immediate elevation in interest in the game as well as the number of rounds being played by club members.

Locally, Golf Queensland had its own role to play in the sport’s promotion with the very successful re-establishment of the Queensland Open played at Brookwater Golf and Country Club with major sponsor support from Isuzu. It was great to see how much the event attracted public interest through the media as well as participation in golf with over 1,000 children from schools in the Springfield and Ipswich areas having a ‘taste’ of golf through clinics Golf Queensland organised in the lead up to the event. With the cooperation of the PGA this community program helped boost the number of children involved in Golf Queensland clinics including after school programs to over 14,000 for 2013.

Golf Queensland continues to have a strong focus on the introduction of children to golf and the development of junior club programs is encouraging with 93 clubs now having registered with the national junior program MYGolf. Our Member Districts are also playing a role with the majority having a District Junior Coordinator to assist clubs with junior development. With Golf Australia and the PGA joining forces in the MYGolf program we are looking forward to this program’s growth and more children enjoying the game. I strongly believe that introducing juniors to the sport is most important for the future sustainability of our clubs through the continued supply of new adult members ‘down the track’. Golf Queensland also continues to develop, promote and implement initiatives for greater participation by adults. At the end of the year Golf Queensland won funding from government to extend the pilot program, ‘Ladies, Let’s Golf’, designed to assist golf clubs better engage and recruit women.

Club health and sustainability is increasingly a priority within our planning because of the many clubs struggling following the extraordinarily wet summers in 2011, 2012 and, to a lesser extent, in 2013. A new initiative in 2014 will be the establishment of an enhanced club support and development program in conjunction with other industry stakeholders including our Districts and Golf Australia. An important service within the program is the establishment by Golf Australia of a web-based information portal on all things pertaining to club management and administration. The support program builds on some of our past work in provision of information and tools for golf clubs. I would note that of the existing club support tools, the Grants Writing Assistance Program was most successful this year in assisting clubs win over $500,000 in grants.

The talented player development programs were particularly successful with a number of Queensland players being selected for international competition. In an outstanding year for our

State Teams three out of four of our teams won their respective national team series. In 2013 we continued to build and promote our regional talent identification camps. Hopefully there will be yet another Adam Scott amongst the developing players.

There were some significant changes in the Board membership in 2013. At the beginning of the year, there was the resignation of Tom Crothers as a Board Director. Tom was the inaugural President and then Chair of Golf Queensland having resigned from the Chair in 2012. Tom has made an enormous contribution to the development of golf having been a tireless worker for golf in this State at all levels of administration for over 25 years. Following Tom’s resignation David Bell was appointed temporarily to the vacancy and was later elected at the AGM for the two year term. David Bell has subsequently made a great contribution with his diverse background in law as well as sport and golf management. The Board also recruited and selected Patrick Twomey to the vacant appointed Board Director role. Pat has a strong background in finance and general management. Other governance development activities undertaken by the Board included a review of its Committee structures for 2014 and a performance evaluation including a Board skills assessment.

The Board continues to be a committed team and has maintained a strong focus on the advancement of golf in Queensland. I acknowledge the fine contribution of my fellow Board Directors and their support of my role as Chair. My thanks to the many volunteers involved both at the strategic and operational levels of Golf Queensland. I also recognise and thank the role our Districts have had to play in provision of input on Golf Queensland’s development through various meetings and the Golf Queensland Council. Finally, I thank our talented staff of Golf Queensland for their ongoing commitment and passion toward the development and promotion of the game of golf in Queensland.

ChairPeter Castrisos


Strategic Plan Driver One: ParticipationJunior Participation - The Golfing Futures Project Golf Queensland has conducted numerous meetings with the Greg Norman Golf Foundation in an effort to consolidate the junior development resources in Queensland. This process has been slow due to unforeseen delays but it continues to evolve. The Board is committed to moving forward with a consolidated approach that will involve other stakeholders including the PGA.

Junior Participation ProgramsThe strategy utilised by Golf Queensland to engage with schools and clubs in 2013 was reviewed. Although Golf Queensland has engaged with almost 14,000 students in 2013 (an increase of 4,000 students), the focus is increasingly on working with Clubs and other providers of junior program/s. This is important as unless there are numerous programs accessible to potential young players, it is very difficult to link school children to Clubs and be retained in golf programs. It has been identified that the key to a successful club program is through provision of consistent and structured approach.

The MYGolf program continues to be a major focus for Golf Queensland. More Golf Clubs, driving ranges and schools are offering the program to juniors at their facilities. Queensland now has 98 registered centres and 1,370 participants enrolled in the program.

In terms of National program development, the PGA and Golf Australia have undertaken a review of the MYGolf program with Gemba, an organisation which specialises in junior sport. The marketing, program structure and organisation of delivery in Clubs have all been considered with the aim of increasing participation as well as retention in existing programs. There will be a relaunch of the MYGolf program in May 2014.

Community Coaching courses continue to be a successful means of introducing and providing support to junior coordinators, Club volunteers and school teachers with the implementation of the MYGolf program in Clubs and schools. The last 12 months has seen 125 new coaches accredited.

The Junior Golf Queensland website has been refreshed to focus on four key areas with information more accessible and relevant to:

• Juniors

• Coordinators and Parents

• Schools

• Clubs/Facilities

Another major project with the Junior Golf Queensland website will be to continue building the calendar made up of Club, District and other service provider junior events or participation opportunities. In addition to providing this calendar, we would like to share various news articles and

results from around the State. All these items can now be shared by completing the relevant online contact form on the website.

In October 2013, Golf Queensland invited all District Junior Coordinators to attend a weekend workshop on junior golf. 15 of the 18 Districts were represented in this workshop, in addition to having attendees from Golf Australia, PGA, ALPG, Golf Industry Central, Active-After Schools and Red Tape Busters.

Key outcomes were discussed and recorded for future workshops of this nature. These included:

• Improve communication between all parties

• Create a database of junior coordinators for Queensland

• Develop ‘best practices’ and promote case studies

• Record junior participation and junior specific membership numbers (GMA Benchmarking)

• Develop KPI’s around new programs, community coaches and participation numbers

• Collate information on District junior programs

Golf Queensland aims to conduct workshops of this nature for District Junior Coordinators on a biennial basis.

Ladies, Let’s Golf Ladies, Let’s Golf is a program that has been developed by Golf Queensland for service providers to deliver opportunities for women to experience the game of golf in an environment that is welcoming, relaxing and nonthreatening. A proposed pathway has also been developed to engage and attract new participants into Clubs while also retaining new golfers who become members.

The aim of the Ladies, Let’s Golf Program is to enable Golf Clubs/facilities to:

• Entice and introduce players to golf through participation in clinics and various activities.

• Provide a culture and experience that is welcoming, motivating, inclusive and supportive of every player.

• Implement new strategies to encourage continued participation and retention of new Club members.

• Provide a clear pathway for females toward Club membership that all Clubs can utilise including guiding materials for staff and volunteers involved.

The pilot was run at three clubs and attracted 50 players with 37 signing up to extend involvement past the introductory program.


Strategic Plan Driver One: Participation (continued)

Strategic Plan Driver Two: Golf Services

The Casual Golfer Model - iGolf QueenslandPathway Structure for Membership: The target market of the program is casual golfers aged 25 – 45 (casual golfers play more than eight rounds per year). iGolf Queensland provides a bridge for these casual golfers by increasing the frequency of play, an easy start to competitive play. iGolf Queensland provides information about Golf Club membership and, with the help of Clubs, an introduction to and sampling of Golf Club membership services. By increasing their frequency of play and providing an easy start to competition golf through participation and social play, casual golfers will see their needs can be fulfilled through club membership. In 2013 there were 153 members including 67 women and 86 men.

In 2013, four clubs offered iGolf Queensland members limited opportunities to play in competitions as well as St Lucia Golf Links and Victoria Park Golf Club offering weekly competitions.

Clinics/Events for iGolf Queensland members:

• Victoria Park Short Game Clinic Men & Women

• Victoria Park Ladies Only 9 hole Classic – Non handicap & handicap competitions

• Carbrook Golf Club Ladies Invitation Day

• St Lucia Competition & Clinic

• Shape Up Your Game, Short Game Clinic – Brookwater Golf Club

• Shape Up Your Game, Long Game Clinic – Palm Meadows Golf Driving Range

Championships and Events

Overall 2013 was a successful year for Golf Queensland events with over 2,600 players participating. The program of 25 events has allowed host venues to be promoted strongly within the Golf Club industry.

In 2013 two significant projects were added to the schedule, these being the Srixon Queensland Senior Order of Merit and the Isuzu Queensland Open.

Srixon Queensland Senior Order of MeritGolf Queensland and all competitors are truly grateful for the volunteer work of QSOOM Event Coordinator Alan Davies. The following points would not be possible without Alan’s determination to ensure this project is successful and sustainable.

• Srixon sponsored the 2013 QSOOM in a naming rights capacity, the sponsorship bringing approximately $10,000 in product to be used as prizes.

• A total of 46 events were available for both male and female golfers over the age of 55 to compete all across Queensland.

• The Srixon QSOOM was well received by the majority of host golf clubs, many confirming their intention of hosting an event in 2014.

• A total of 650 male and 234 female golfers participated in the QSOOM in 2013.

• A database of 878 players has been produced through the program. Based on the feedback from the players, host venues and internal evaluations of the calendar, 2014 will see the schedule refined to 34 QSOOM events plus results from the Men’s and Women’s Queensland Senior Amateur Championships and five other sanctioned events.

Isuzu Queensland OpenThe reinstatement of the Queensland Open back onto the PGA Australasia Tour has been a very successful project for all stakeholders involved. The Open generated an enormous amount of media exposure with this exposure showcasing the event and golf to an audience which Golf Queensland had previously not engaged with. Around 5,000 spectators visited the venue throughout the championship week and over 50 volunteers were utilised for the event. Media coverage of the Championship exceeded expectations with all mediums covering the Championship. A one-hour specialty television broadcast on Channel Nine was one of the methods used to showcase the Championship. Strong relationships have been created with the naming rights sponsor Isuzu and partner sponsors Brookwater Golf and Country Club, Ipswich City Council and PGA Tour. An additional eight sponsors supported the event at varying levels. In 2013, the event attracted 318 entries with the final field being determined by exemption categories and pre-qualifying rounds. A final field of 120 players, comprising of professional and elite amateurs, teed it up on the first day. Over 1,000 children were involved in activities held throughout the region promoting the game of golf and the Isuzu Queensland Open. Schools, community organisations and local shopping centres were targeted to provide an opportunity to engage with the residents of Ipswich.

Golf Queensland is extremely pleased with the launch of both the Srixon QSOOM and Isuzu Queensland Open and look forward to these projects developing in the future years.


Strategic Plan Driver Two: Golf Services (continued)

Rules and Handicapping Education and AccreditationIn addition to the Club Level Rules of Golf Seminars which are held each year by Golf Queensland, three seminars on the new Golf Australia Handicapping System were held. The two July seminars were conducted by Golf Australia and proved very successful with over 70 Clubs being represented over the two days. Golf Queensland presented a Golf Operations Forum (formerly known as Captain’s Day) on December 9 to over 120 participants. Topics included handicapping, social media and growing the game through an on-course activity. The Golf Queensland Board has included a session on the new system at a number of District AGMs to further raise the awareness of the new handicapping system.

Course Rating2013 has seen the commencement of the re-rating of Queensland courses under the USGA system. A schedule has been developed which will ensure that all courses in Queensland will be rated once every 10 years. In 2013, 24 courses were re-rated, many of which were targeted due to recent changes and by request. Through this process, Clubs have also been educated on the re-rating process, the common misconception being that the re-rating process could result in a significant variation to their current course rating, which is not the case. In October the suspension of the sand green new scratch ratings concluded, following Golf Queensland and Golf Australia conducting a comprehensive review of the sand green course rating process. In summary, the review process found that an adjustment was

required to allow for excessive roll (excessive roll is uncommon to metropolitan areas but is a regular feature of Queensland regional courses). In addition to the regulation, a test was formulated to calculate such roll. Following the production of the “Excessive and Reduce Roll Assessment Regulation” a significant number of courses have conducted testing and returned the results to Golf Queensland. Based on the results, Golf Queensland has applied the regulation to all sand green courses and these new scratch ratings are now in effect. Clubs are encouraged to contact Golf Queensland if they are considering making alterations to their course in the future so that a re-rating can be scheduled upon completion of the work.

Grants Assistance ProgramGolf Queensland has continued with the provision of grants writing assistance for Clubs and Districts in 2013. In addition to the grants writing, quarterly grants newsletters and an online video presentation regarding grants have been developed. The Queensland Government’s “Get in the Game” initiative was well subscribed to in 2013. To date the funding received by clubs that have applied to this program is over $570,000 with a number of these being supported by Golf Queensland. The results of the second round have not been released at time of print. In 2013 the relationship with Golf Queensland and Red Tape Busters resulted in grant allocation of $370,000 to clubs with further funding applications still in the process of being finalised.


Strategic Plan Driver Three: Business Growth Industry PartnershipsGolf Queensland continues to work in fostering partnerships with other industry stakeholders. In particular, there is the group representing the Queensland Golf Industry with representatives from the PGA, AGCSA and the GMA. Recently the objects of this QGI group have been established with the endorsement of the Golf Queensland Board.

District AGM AttendanceThe Board have made every effort to attend the District AGM’s to report on Golf Queensland activities. In 2013 all but four of 18 AGMs were attended.

Industry Advocacy – Government Redtape ReductionGolf Queensland supported the advocacy program of Clubs Queensland that has influenced the Government in reforming liquor and gaming red tape impacting on the club industry. A major submission was developed on behalf of Queensland Golf Clubs by Golf Queensland to lend weight behind Clubs Queensland’s efforts. The report involved surveying a number of Clubs that were representative of various size clubs and communicating their concerns to Government. Meetings and presentations to Government were also attended by the Golf Queensland CEO.

While there is more to be achieved in the reform there has been a ‘monumental shift’ in Government thinking and there are many items of redtape that have been removed. We are hopeful of further positive announcements in 2014.

Isuzu Queensland Open SponsorshipIn 2013 the strategy for sponsorship of the re-launched Isuzu Queensland Open was to build new relationships with corporate bodies and to gain an understanding of which services of the Championship were key to them. In its initial year the Isuzu Queensland Open created 13 new relationships each supporting the event. A three-year agreement was also reached with the naming rights sponsor and venue partner.

Three tiers of sponsorship were available to corporate bodies and the diversity of each level allowed a varied amount of organisations to be involved in the event. New relationships with sponsors were fostered by using the strong network of contacts available through the naming rights sponsor and partner sponsor. A key to this is focusing on the growth of the Ipswich Region and capitalising on the strong support provided by Ipswich City Council.

In 2014 the strategy will be to maintain the current sponsorship relationships and to continue to build the matrix of sponsors.


Strategic Plan Driver Four: Organisational ExcellenceFinance and Risk Management - Policy ReviewThe Finance and Risk Management Committee reviewed a number of policies during the year. The Delegations Policy was adopted in 2012 and reviewed in 2013. The Delegations Policy sets out the person/s that have the authority to sign off a variety of financial situations. The Investment Protocol was reviewed to determine that the investment types and objectives of the document are within the company’s requirements. The Protocol also deals with counterparty limits, maturity profiles and reporting requirements.

The Committee reviewed the suite of Occupational Health and Safety documents that had been prepared by management. These documents included the OH&S Policy, the Incident Report form, the Contact List, and the Compliance Plan. Legislation changes that came into effect on 1 January 2012 apply to all organisations. The information package distributed by the Australian Sports Commission was useful in preparing the documentation and would be a good tool for any District or club that has not reviewed their policies since the legislation changes.

Risk Management was the final policy area for review during the period. The Committee considered the Policy, Matrix and Register documents that had been reviewed by management. These items are reviewed on an annual basis.

Budget OversightThe 2013 Budget Forecasts after Q1, Q2 and Q3 were presented to the Finance and Risk Committee at their meetings. These reports were prepared by management based on estimates of any changes to the initial budget set in November 2012. By tracking these changes each quarter, the management is better able to forecast what the final financial result will be for Golf Queensland. It also allows the Board to be more flexible in ensuring that they can endorse changes to projects so they best reflect the intended strategy.

Development of the 2014 Budget began in July 2013. The Committee was involved in considering the rationale of management used to frame the budget. A recommendation was made by the Committee to the Board that the draft 2014 Budget be used as the basis for setting the 2014 to 2018 Budget. The five year budget from 2014 to 2018 allowed the Board to set the 2015 Capitation Fee at a level that would enable the funding of the strategies during that period.

InsurancesThe renewal of the company’s insurances took place during mid-2013. The Finance and Risk Committee considered the level of cover that the various policies offered. It was noted that the corporate travel policy did not include the Districts

at all, or Golf Queensland State Team players. The insurance broker had stated that the Districts were not previously included under the Corporate Travel policy and suggested that the cost of including the Districts would be substantial. The Committee recommended that Golf Queensland should investigate its options regarding insurance coverage for its representative players.

Governance and Board OperationsA review of the Board Committee structure began in late 2013. The Board had discussions at their September, October and December meetings about the direction and terms of reference for the Committees. The new Board Committee term begins in March 2014.

The Corporate Plan was completed in 2013 and is in operation. The document outlines the targeted outcomes, and measures the results for Core Initiatives. Core Initiatives are aligned with the Major Strategies in the Golf Queensland Strategic Plan. The Board received updates on the Corporate Plans relating to the five Strategic Drivers at their meetings between July and December 2013.

One of the Core Initiatives that the Board was focussed on is the Regional Strategy. This has resulted in the proposed Club Support project currently under development by the Planning and Development Committee.

Deed of AgreementIn accordance with the new Golf Queensland Constitution, a draft Deed of Agreement template has been established for the purpose of formalising and clarifying arrangements between the various levels within the sport of amateur golf in Queensland. A lengthy consultation process with stakeholders resulted in the final draft document presented to the December Council Meeting. Based on the positive feedback from the Delegates at the Meeting the draft Deed of Agreement was endorsed by the Board. A process for distributing the Deed of Agreement documents will be implemented in 2014.

Capitation Fee By-LawsThe development of the Capitation Fee By-Laws was concluded in 2013 after extensive discussion and research. In conjunction with the relevant clauses in the Constitution the new By-Laws will ensure a consistent process state-wide. The By-Laws also take recent membership model developments in the industry into consideration to make certain that players who receive the benefits of club membership are included in the collection of Capitation Fees. In 2014 the new By-Laws will govern the process for the Capitation Fee collection.


Strategic Plan Driver Five: Talented Player Development The Golf Queensland squad players are responding positively to the assistance and guidance being provided in critical areas associated with their fitness levels, their dietary needs and of course their golfing skills. The following service providers have been working within our programs:

• Josh Meyer (Physiotherapy)

• Nick Randall (Strength and Conditioning)

• Lauren Nugent (Nutrition)

• Matt Alhberg (Sport Psychology)

• Bo Hanson (Athlete Assessments)

Queensland Academy of Sport (QAS)The QAS Golf Program continued to evolve in 2013 with the squad training twice a week at both the Brookwater State Training Facility and the QAS Headquarters located at the Queensland Sport and Athletics Centre at Nathan. In the latter part of 2013 two squad members Cameron Smith and Ashley Ona turned professional and have moved on to be rookie scholarship holders. Viraat Badhwar has taken up a scholarship at Stanford University, however will continue as an overseas scholarship holder. The following QAS squad members were selected to represent Australia in international competition in 2013:

• Cameron Smith

• Viraat Badhwar

• Taylor Macdonald

• Aaron Wilkin

State ProgramThe Men’s and Women’s State Teams did an outstanding job in Tasmania at the Interstate Team Matches Series. The Men’s Team won the National Championship, defeating NSW in the final and moved through the week undefeated. The Women’s Team also had a great week narrowly missing the final, going on to finish third. Queensland State Players have had interstate success with the following results:

• Viraat Badhwar (Australian Master of the Amateurs Champion)

• Cameron Smith (Australian Men’s Amateur Champion)

• James Gibellini (Federal Amateur Champion)

• Taylor Macdonald/Aaron Wilkin (Australian Men’s Foursomes Champions)

• Jaimee Dougan/Ashley Ona (Australian Women’s Foursomes Champions)

• Taylor Macdonald (Keperra Bowl Champion)

• Ashley Ona (Queensland Amateur Champion)

Junior State ProgramThe Boy’s and Girl’s Junior State Teams performed exceptionally well at the Interstate Series in Western Australia, both winning their respective Championship. The Junior State Squad was announced and monthly trainings commenced at the State Training facility at Brookwater from May. The players in the squad have been exposed to monthly golf fitness sessions with Golf Queensland Strength and Conditioning Coach Nick Randall and have undertaken extensive golf specific training with State Junior Team coaches, Grant Field and Virginia Irwin. Queensland junior players had interstate success with the following results:

• James Macklin (Alice Springs Junior Open)

• Stacey White (Alice Springs Junior Open)

• Amy Walsh (NSW Junior Champion)

• Jack Sullivan (NSW Junior Champion)

• Blake Proverbs (Golf Australia #1 Ranked Junior)

• Samantha Foley (Queensland Girl’s Amateur Champion)

• Jack Sullivan (Greg Norman Junior Masters Champion)

Advanced Junior ClinicsThree satellite clinics were held throughout the first week of April at Mareeba, Rowes Bay and Mackay Golf Clubs. The junior golfers in the regional areas were exposed to golf specific nutrition and conditioning as well as being given access to golf specific technology used in the Golf Queensland High Performance Program. Golf Queensland staff and personnel attended the three clinics, working with the local PGA professionals and junior coordinators. A clinic was also conducted in Brisbane with State Junior Coach Grant Field and Golf Queensland Head Coach Tony Meyer. In 2014, clinics have been scheduled to be held again in Far North Queensland, North Queensland and Central Queensland. Once again Golf Queensland staff will attend these clinics and work with local PGA professionals. The Clinics will be renamed to Golf Queensland Regional Clinics based on the feedback received from 2013.

National SquadFollowing Taylor Macdonald’s victory at the Keperra Bowl, he was included in the 2014 National Squad. Our State Junior Squad coach Grant Field was also selected to coach the Australian players at the Argentine Amateur and QAS Assistant Coach David Nable was selected to coach the Australian players at the Ten Nations Cup.


Finance & Risk Management Matthew Toomey (Chair)David BellPeter JohnsSean Millar+Jeremy Wicht*Lindsay Ellis (staff)Matthew Sedgman (staff)

Planning & DevelopmentDavid Brett (Chair)Peter CastrisosCarmel O’KeeffeAaron MuirheadSteve KingGraeme Mathers+Lindsay Ellis (staff)Claire Power (staff)Adrian Hewat (staff)

Match Barry Shepherd (Chair)Tom CrothersLorraine MatthewsTony RollinsElaine CloutMargaret BaileyJessica Jenkins+Luke Bates (staff)Matt Field (staff)Chris Evans (staff)

High Performance David Bell * (Chair)Graeme Mathers+ (Chair)Barry ShepherdPeter Coss*Matthew ToomeyHayley Wilkinson+Shane StevensonPeter CastrisosLuke Bates (staff)Chris Evans (staff)Tony Meyer (staff)

Technical Abby Driver (Chair)Peter CastrisosJudy LoganChris DadayRod LawersonLuke Bates (staff)Matt Field (staff)

Volunteer of the Year Joan Harvey

State Selectors Barry Shepherd (Chair)Josie RyanRay AdamsTony Meyer

Managers Panel Matthew ToomeyGraeme Mathers+Jessica JenkinsHayley Wilkinson +Shane StevensonTony Meyer

State Coaching Panel (contracted) Virginia IrwinGrant FieldTony MeyerDavid NableRichard Woodhouse

Golf Australia Delegates Peter CastrisosMatthew Toomey

Tournament Support Group Peter CastrisosElaine CloutTom CrothersChris DadayJim DalrympleLew DraperPhillip FraserIan GilesTricia Harding+Lavinia HillLyn HughesRod LawersonJohn JayoBill LivingstonGraeme Mathers+Rod McLeodBob MihellPeter MonksJohn MorrisonSandra MudieTrevor PryorTony RollinsBarry Shepherd Carmel SmithMichele Stanley

Course Raters Howard AirMarilyn AntcliffMargaret BaileyJohn BaldwinLindsay BennettSue ByrnesJohn CameronPeter ClarkWayne ClarkeBill Coverdale +Abby Driver (Course Rating Auditor & Zone Administrator)Ian GilesRosie GlassonJohn Jayo*Rod LawersonGraeme MacDonaldDave MorrisonJohn Morrison+Ron MurphyRonald NewtonArlene PenlingtonTrevor PryorBarry ShepherdGraeme SykesNola TaylorIris ThompsonLinda Urquhart*

* Appointed 2013+ Ceased 2013

Committees & Volunteers


2013 Queensland Championship ResultsQueensland Men’s & Women’s Foursomes Championship

Venue: . . . . . . . . . . . . . . . . . . . Wynnum Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . . . . 10 March

Men’s Champions : . . . . . . Blake Proverbs & Jack Sullivan

Women’s Champions : . . . . .Ali Orchard & Sheree Hasson

Queensland Indigenous Championship

Venue: . . . . . . . . . . . . . . . . . . . . Murgon Golf Club

Date: . . . . . . . . . . . . . . . . . . . . . . . . 15-17 March

Champion: Mens . . . . . . . . . . . . . . . . . Rickie Dodd

Champion: Womens . . . . . . . . . . . . . . . .Kiri Sullivan

Queensland Womens Four-Ball (President’s Cup)

Venue: . . . . . . . . . .Pacific Harbour Golf & Country Club

Date . . . . . . . . . . . . . . . . . . . . . . .25 March 2014

Champions: . . . . . . . . .Alex Belonogoff & Bronwyn Park

Runners Up: . . . . . . . . . .Adele Webb & Pauline Stewart

Queensland Women’s Country Championship

Venue: . . . . . . . Tewantin Noosa & Mt Coolum Golf Clubs

Date . . . . . . . . . . . . . . . . . . . . . . . . . 20-22 May

Champion:. . . . . . . . . . . . . . . . . . . Samantha Foley

Runner Up: . . . . . . . . . . . . . . . . . . . . . Josie Ryan

Queensland Men’s Sand Green Championship

Venue: . . . . . . . . . . . . . . . . . . . . Mitchell Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . . . . 7-9 June

Champion:. . . . . . . . . . . . . . . . . . . . . Dan Hughes

Runner Up: . . . . . . . . . . . . . . . . . . . . . Luke Short

Queeensland Mixed Foursomes Championship

Venue: . . . . . . . . . . . . . . . . . . . . McLeod Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . .16 June 2014

Champions: . . . . . . . . . . Ryan Gaske & Samantha Foley

Runner Up: . . . . . . . . . . .Ali Orchard & Kevin Marques

Queensland Women’s Sand Green Championship

Venue: . . . . . . . . . . . . . . . . . . . . . Miles Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . . . 29-30 June

Champion:. . . . . . . . . . . . . . . . . . . . . Shae Holmes

Runner Up: . . . . . . . . . . . . . . . . . . . . .Marie Cook

Queensland Women’s Mid-Amateur Championship

Venue: . . . . . . . . . . . . . . . . . .Horton Park Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-8 July

Champion:. . . . . . . . . . . . . . . . . . . . .Katrina Jones

Runner Up: . . . . . . . . . . . . . . . . . .Robyn Callaghan

Queensland Senior Women’s Amateur Championship


Date . . . . . . . . . . . . . . . . . . . . . . . . . . 7-11 July

Champion:. . . . . . . . . . . . . . . . . . Wendy O’Connell

Runner Up: . . . . . . . . . . . . . . . . . . .Rosalind Fisher

Queensland Men’s Senior Amateur Championship

Venue: . . . . . . . . . . . . . . . . . . . . . Oxley Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . . . . 8-10 July

Champion:. . . . . . . . . . . . . . . . . . . . . . Alan Bullas

Runner Up: . . . . . . . . . . . . . . . . . . . . . Brad Oliver

Queensland Business Women’s Championship

Venue: . . . . . . . . . . . . . . . . . . . Headland Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . . . . 4 August

Champion:. . . . . . . . . . . . . . . . . . . . .Katrina Jones

Queensland Men’s Country Week

Venue: . . . . . . . . . . Indooroopilly and Oxley Golf Clubs

Date . . . . . . . . . . . . . . . . . . . . . . . .12-13 August

Champion:. . . . . . . . . . . . . . . . . . . . Boyd Johnson

Queensland Men’s Mid-Amateur Championship

Venue: . . . . . . . . . . . . . . . . RACV Royal Pines Resort

Date . . . . . . . . . . . . . . . . . . . . . . 8-10 September

Champion:. . . . . . . . . . . . . . . . . . . .Damien Jordan

Runner Up: . . . . . . . . . . . . . . . . . . . . Mat Crandell

Katherine Hull Classic


Date . . . . . . . . . . . . . . . . . . . . . 22-24 September

Champion:. . . . . . . . . . . . . . . . . . . . .Stacey White

Runner Up: . . . . . . . . . . . . . . . . . . . Karis Davidson


Gary Player Classic

Venue: . . . . . . . . . . . . . . . . . . . . . Pacific Golf Club

Date . . . . . . . . . . . . . . . . . . . . . 24-27 September

15 Years & Under: . . . . . . . . . . . . . . . . . Jack Trent

16-17 Years: . . . . . . . . . . . . . . . . . . . James Macklin

18-20 Years: . . . . . . . . . . . . . . . . . . Anthony Quayle

Gertrude McLeod Winners Event

Venue: . . . . . . . . . . . . . . . Surfers Paradise Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . 30 September

Div 1:. . . . . . . . . . . . . . . . . . . . . . . Lesley Ingram

Div 2:. . . . . . . . . . . . . . . . Darlene O’Shea (Redcliffe)

Div 3:. . . . . . . . . . . . . . . . . . .Donna Vessman (City)

Keperra Bowl

Venue: . . . . . . . . . . . . . . . . . . . . Keperra Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . . 15-18 October

Champion:. . . . . . . . . . . . . . . . . . Taylor Macdonald

Runner Up: . . . . . . . . . . . . . . . . . . .Damien Jordan

Queensland Champion of Champions

Venue: . . . . . . . . . . . . . . . . . . . Southport Golf Club

Date: . . . . . . . . . . . . . . . . . . . . . . . 20-22 October

Women’s Champion: . . . . . . . . . . . . .Gennai Goodwin

Queensland Champion of Champions


Date: . . . . . . . . . . . . . . . . . . . . . . . 20-22 October

Men’s Champion: . . . . . . . . . . . . . . . . . Alex McCoy

Queensland Women’s Stroke Play Championship


Date . . . . . . . . . . . . . . . . . . . . . . . 20-22 October

Champion:. . . . . . . . . . . . . . . . . . . . . Su-Hyun Oh

Runner Up: . . . . . . . . . . . . . . . . . . .Lauren Hibbert

Queensland Men’s Stroke Play Championship


Date . . . . . . . . . . . . . . . . . . . . . . . 20-22 October

Champion:. . . . . . . . . . . . . . . . . . . . . Jarryd Felton

Runner Up: . . . . . . . . . . . . . . . . . . Anthony Quayle

Queensland Men’s & Women’s Amateur Championship


Date . . . . . . . . . . . . . . . . . . . . . . . 24-26 October

Men’s Champion: . . . . . . . . . . . . . . . . Callan O’Reilly

Women’s Champion: . . . . . . . . . . . . . . . . Ashley Ona

Queensland Men’s Inter-Assocation Teams Event

Venue: . . . . . . . . . . . . . . . . . . . Carbrook Golf Club

Date . . . . . . . . . . . . . . . . . . . . . 10-12 November

Champion Gross: . . . . . . . Sunshine Coast South Burnett

Champion Nett: . . . . . . . . . . . . . . . . . . .North West

Queensland Girl’s Amateur Championship

Venue: . . . . . . . . . . . . . . . . . Indooroopilly Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . 9-11 December

Champion:. . . . . . . . . . . . . . . . . . . Samantha Foley

Runner Up: . . . . . . . . . . . . . . . . . . . Karis Davidson

Queensland Boy’s Amateur Championship

Venue: . . . . . . . . . . . . . . . . . Indooroopilly Golf Club

Date . . . . . . . . . . . . . . . . . . . . . . 9-11 December

Champion:. . . . . . . . . . . . . . . Mathew Samen-Curtis

Runner Up: . . . . . . . . . . . . . . . . . . . . Jack Sullivan

2013 Queensland Championship Results

2013 Keperra Bowl champion, Taylor Macdonald


2013 Australian Interstate Team Matches

2013 Queensland Interstate Representative Teams

Event Venue Champion Queensland ResultBoy’s Bunbury Golf Club QLD 1st

Girl’s Western Australia Golf Club QLD 1st

Women’s Royal Hobart Golf Club VIC 3rd

Men’s Tasmania Golf Club QLD 1st

Girl’s

Samantha Foley

Rebecca Kay

Kate Law

Dee Dee Russell

Amy Walsh

Stacy White

Virginia Irwin (Coach)

Jessica Jenkins (Manager)

Boy’s

Viraat Badhwar

Matthew Cheung

Jack Hulyer

Blake Proverbs

Jack Sullivan

Shae Wools-Cobb

Grant Field (Coach)

Graeme Mathers (Manager)

Women’s

Ellen Davies-Graham

Jaimee Dougan

Gennai Goodwin

Ashley Ona

Ali Orchard

Nadine White

Richard Woodhouse (Coach)

Hayley Wilkinson (Manager)

Men’s

James Gibellini

Taylor MacDonald

Jake McLeod

Cameron Smith

Simon Viitakangas

Aaron Wilkin

Viraat Badhwar

Kevin Marques

Tony Meyer (Coach)

Matthew Toomey (Manager)


Golf Queensland Limited ACN 126 091 450

Directors’ Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16Auditor’s Independence Declaration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Consolidated Statement of Comprehensive Income. . . . . . . . . . . . . . . . . . . . . . . . . . 21Consolidated Statement of Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Consolidated Statement of Changes in Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23Consolidated Statement of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26Directors’ Declaration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40Independent Auditor’s report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Contents

Golf Queensland Ltd and Controlled EntityACN: 126 091 450

Financial ReportFor the Year Ended 31 December 2013

Golf Queensland Annual Report Year Ended 31 December 2013Page 16


Your directors present their report on the company and its controlled entity for the financial year ended 31 December 2013.

DirectorsThe names of each person who has been a director during the year and to the date of this report are:• Peter Castrisos• Richard Brooks Crothers (Resigned 1/3/13)• Graeme Laurence Mathers (Resigned 15/7/13)• Matthew Joseph Toomey• Carmel Joan O’Keeffe• Lorraine Catherine Matthews• Judith Ann Logan• David Colin Brett• David Bell (Appointed 1/3/13)• Patrick Twomey (Appointed 2/9/13)

Secretary• Matthew Thomas Sedgman

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

ObjectiveGolf Queensland aims to promote and foster the game of golf, preserve its traditions and encourage existing golfers to realise their potential and athletic abilities and develop golfing talent.

StrategyThe strategies employed to achieve those objectives utilise the following drivers: We will strive to attract, introduce and keep people in the game; we will provide opportunities for talented Queensland golfers to excel; we will optimise our operations through diligent and best practice management while assisting clubs and districts to do the same; and to achieve sustained organisational performance we will actively grow and develop our resources inclusive of finances, facilities, partnerships and other infrastructure.

Principal ActivitiesThe principal activities during the year were the provision of Participation and Development programs, Tournaments, High Performance programs, and Technical programs. These activities were developed in line with our key drivers as supporting strategies within the business plan. The success of these activities in achieving their desired outcome is assessed against Key Performance Indicators linked to the business plan’s supporting strategies.

Review of OperationsA review of operations of the consolidated group during the financial period and the results of the operations is as follows:During the period, the consolidated group continued to engage in its principal activity, the results of which are disclosed in the attached financial report.

Operating ResultsThe surplus for the year of the consolidated group amounted to $72,151 (2012 period: surplus of $12,032).

Future DevelopmentsThe consolidated group expects to maintain the present status and level of operations and hence there are no likely developments in the consolidated group’s operations.

Directors’ Report



Information on Directors

Peter Castrisos Elected Director (Chair)Qualifications Bachelor of Pharmacy- University of QueenslandExperience Management and sub committee experience with Golf Queensland, the Queensland Golf Union and Brisbane Golf Club. Board Member of Club Super. Member of Rotary, and Brisbane Golf Club.

Richard Brooks Crothers Elected DirectorQualifications Bachelor Applied Science (Honours) - University of Queensland (Gatton)Experience Management and sub committee experience with Golf Queensland, Queensland Golf Union, Wide Bay DGA, Bargara Golf Club, and Warwick Golf Club. Member of Redland Bay Golf Club.

Matthew Joseph Toomey Elected Director Qualifications Graduate Diploma of Chartered Accounting - Institute of Chartered Accountants in Australia Bachelor of Commerce - University of QueenslandExperience Management and sub committee experience with Golf Queensland and Virginia Golf Club. Graduate Member of Australian Institute of Company Directors.

Lorraine Catherine Matthews Elected DirectorQualifications Australian Health Practitioner Regulation Agency - Registered General Nurse & Midwife Bachelor of Administration - University New England (Armidale)Experience Committee member Cairns Golf Club, Women’s Captain & Club Vice-President Gordonvale, Vice-President & President FNQDLGA. Manager for the FNQDLGA Junior Jug & Meg Nunn teams 2012.

Carmel Joan O’Keeffe Elected DirectorExperience Management experience with Golf Queensland, Delegate to Women’s Golf Central Qld, Secretary Golf Central Highlands through amalgamation, executive committee Springsure Golf Club for the last 25 years, CQ Meg Nunn Team for the last 7 years.

Graeme Laurence Mathers Appointed DirectorQualifications Cert IV Training and AssessmentExperience Management and committee experience with Golf Queensland. Committee Experience with Kooringal Golf Club and Huntingdale Golf Club. Member of The Brisbane Golf Club.

Judith Ann Logan Elected DirectorExperience Management experience with Golf Queensland. Golf Queensland Delegate and President of Brisbane & District Ladies Golf Association, Committee positions including President and Treasurer with Laidley Golf Club for over 28 years, Committee positions including Secretary and Treasurer with the Moreton District Golf Association for over 20 years, over 29 years working at Commonwealth Bank of Australia in clerical to lending positions.



David Colin Brett Appointed DirectorQualifications Advanced Diploma of Agribusiness (The University of Sydney) Human Resource Management (Macquarie University Sydney)Experience Head of Agribusiness (QLD, NSW & NT), National Australia Bank Limited Member at Redland Bay Golf Club.

David James Alexander Bell Elected Director – Appointed to fill a casual vacancyQualifications Bachelor of Laws / Bachelor of Business (Accountancy) - Queensland University of Technology Master of Sport Management – Griffith UniversityExperience Management and sub-committee experience with Golf Queensland, Virginia Golf Club, University of Queensland Tennis Club Inc. and Queensland Athletics Ltd. Admitted as a solicitor to the Supreme Court of Queensland and the High Court of Australia

Patrick Joseph Twomey Appointed Director Qualifications Graduate Diploma of Superannuation – Australian Superannuation Funds Association Graduate Diploma of Financial Planning – Australian Superannuation Funds Association Masters of Business Administration - University of QueenslandExperience General Manager – Client Services for financial services company Independent Fund Administrators and Advisers Member of Royal Queensland Golf Club Associate of Australian Superannuation Funds Association



DECLARATION OF INDEPENDENCE BY MARK TAYLOR TO THE DIRECTORS OF GOLF QUEENSLAND LIMITED

As lead auditor of Golf Queensland Limited for the year ended 31 December 2013, I declare that, to the best of my knowledge and belief, there have been no contraventions of:• the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and• any applicable code of professional conduct in relation to the audit.

This declaration is in respect of Golf Queensland Limited and the entities it controlled during the period.

Mark TaylorDirector

BDO Audit Pty Ltd

Brisbane, 7 March 2014



Consolidated Statement of Profit or Loss and Other Comprehensive Incomefor the Year Ended 31 December 2013

Note 2013 2012 $ $Revenue 2 3,310,800 2,853,333Employee benefits expense 3 (830,267) (707,589)Affiliation fees (813,888) (797,398)Project and program expenses 3 (1,273,796) (996,581)Administration (226,193) (244,186)Depreciation and amortisation 3 (94,506) (95,547) Surplus before income tax 72,151 12,032Income tax expense 1 (n) - -Surplus after income tax 72,151 12,032 Other comprehensive income Items that will not be reclassified subsequently to Profit or Loss Gain on revaluation of land and buildings, net of tax 319,982 -Other comprehensive income, net of tax 319,982 - Total comprehensive income for the year 392,133 12,032 The above Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes.

Group



Consolidated Statement of Financial Positionas at 31 December 2013

Note 2013 2012 $ $ASSETS CURRENT ASSETS Cash and cash equivalents 4 1,661,512 1,986,259Trade and other receivables 5 531,515 413,680Inventories 14,160 10,482TOTAL CURRENT ASSETS 2,207,187 2,410,421NON-CURRENT ASSETS Financial assets 6 1 1Property, plant and equipment 7 2,796,121 2,510,051Intangible assets 8 4,954 8,257Other receivables 9 - -TOTAL NON-CURRENT ASSETS 2,801,076 2,518,309TOTAL ASSETS 5,008,263 4,928,730CURRENT LIABILITIES Trade and other payables 10 1,402,752 1,723,814TOTAL CURRENT LIABILITIES 1,402,752 1,723,814NON-CURRENT LIABILITIES Provisions 11 27,390 18,928TOTAL NON-CURRENT LIABILITIES 27,390 18,928TOTAL LIABILITIES 1,430,142 1,742,742NET ASSETS 3,578,121 3,185,988EQUITY Retained Earnings 1,687,844 1,615,693Reserves 1,890,277 1,570,295TOTAL EQUITY 3,578,121 3,185,988

The above Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes.

Group



Consolidated Statement of Changes in Equity for the Year Ended 31 December 2013

Retained Asset Total Earnings Revaluation Reserve $ $ $ Balance at 1 January 2013 1,615,693 1,570,295 3,185,988Total comprehensive income/(loss) for the year 72,151 - 72,151Revaluation of Land and Buildings - 319,982 319,982Balance at 31 December 2013 1,687,844 1,890,277 3,578,121

Balance at 1 January 2012 1,603,661 1,570,295 3,172,811Total comprehensive income/(loss) for the year 12,032 - 12,032Balance at 31 December 2012 1,615,693 1,570,295 3,185,988

The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes



Consolidated Statement of Cash Flowsfor the Year Ended 31 December 2013

Note 2013 2012 $ $CASH FLOW FROM OPERATING ACTIVITIESReceipts from customers 2,872,802 2,991,186Payments to suppliers and employees (3,194,459) (2,446,407)Interest received 51,923 60,568Net cash generated from operating activities 18(b) (269,734) 605,347

CASH FLOW FROM INVESTING ACTIVITIESProceeds from sale of property, plant and equipment 13,068 -Payment for property, plant and equipment (68,081) (21,926)Net cash used in investing activities (55,013) (21,926) Net increase in cash held (324,747) 583,421Cash at the beginning of the financial year 1,986,259 1,402,838Cash at the end of the financial year 18(a) 1,661,512 1,986,259

The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes.

Group



NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The financial report includes the consolidated financial statements and notes of Golf Queensland Limited and controlled entities (‘Consolidated Group’ or ‘Group’). Golf Queensland Ltd is a company limited by guarantee, incorporated and domiciled in Australia. Basis of Preparation The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001. For financial reporting purposes, Golf Queensland Ltd and controlled entities is considered a “not for profit” entity. Australian Accounting Standards set out accounting policies that the AASB has concluded would result in a financial report containing relevant and reliable information about transactions, events and conditions to which they apply. Material accounting policies adopted in the preparation of this financial report are presented below. They have been consistently applied unless otherwise stated. The financial report has been prepared on an accruals basis and is based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.a. Revenue Revenue from the sale of goods is recognised upon the delivery of goods to customers. Grant revenue is recognised in the Statement of Comprehensive Income when it is controlled. When there are conditions attached to grant revenue relating to the use of those grants for specific purposes it is recognised in the Statement of Financial Position as a liability until such conditions are met or services provided. The consolidated group charges capitation fees to its affiliated members in June for the next twelve months based on the number of members in the prior financial year. Only fees applicable to the financial period July – December are recognised as income, with January to June fees recognised as deferred revenue (note 1(m)). Entry fees are recognised upon enrolment into the event and receipt of monies. All revenue is stated net of the amount of goods and services tax (GST).b. Inventories Inventories are measured at cost, adjusted when applicable for any loss of service potential. Inventories acquired at no cost, or for nominal consideration are valued at the current replacement cost as at the date of acquisition.c. Property, Plant and Equipment Each class of property, plant and equipment is carried at cost or fair values as indicated, less, where applicable, accumulated depreciation and impairment losses. Property Freehold land and buildings are shown at their fair value based on periodic, but at least triennial, valuations by external independent valuers, less subsequent depreciation for buildings. Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation reserve in equity. Decreases that offset previous increases of the same classes of assets are charged against fair value reserves directly in equity; all other decreases are charged to the Statement of Comprehensive Income. Each year the difference between depreciation based on the revalued carrying amount of the asset charged to the Statement of Comprehensive Income and depreciation based on the asset’s original cost is transferred from the revaluation reserve to retained earnings.

Notes to the Financial Statements for the Year Ended 31 December 2013



NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. Plant and Equipment Plant and equipment are measured on the cost basis less depreciation and impairment losses. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts. Plant and equipment that have been contributed at no cost, or for nominal cost are valued at the fair value of the asset at the date it is acquired. Depreciation The depreciable amount of all fixed assets including buildings and capitalised lease assets, but excluding freehold land, is depreciated on a straight line and diminishing value basis over the asset’s useful life to the group commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. The depreciation rates used for each class of depreciable assets are:

Class of Fixed Asset Depreciation Rate – Diminishing value Buildings - parent 2% Office furniture and equipment - parent 11.25% – 40% Motor vehicles - Parent 30% Depreciation Rate – Straight line Building - subsidiary 3% Office furniture and equipment - subsidiary 10-25%

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each Statement of Financial Position date. Asset class carrying amounts are written down immediately to their recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the Statement of Comprehensive Income. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.

d. Principles of Consolidation A controlled entity is any entity over which Golf Queensland Ltd has the power to govern the financial and operating policies so as to obtain benefits from its activities. In assessing the power to govern, the existence and effect of holdings of actual and potential voting rights are considered. A list of controlled entities is contained in Note 23 to the financial statements. As at reporting date, the assets and liabilities of all controlled entities have been incorporated into the consolidated financial statements as well as their results for the year then ended. Where controlled entities have entered (left) the consolidated group during the year, their operating results have been included (excluded) from the date control was obtained (ceased). All inter-group balances and transactions between entities in the consolidated group, including any unrealised profits or losses, have been eliminated on consolidation. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with those adopted by the parent entity.e. Leases Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the period in which they are incurred.




NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

f. Financial Instruments Recognition and Initial Measurement Financial instruments, incorporating financial assets and financial liabilities, are recognised when the group becomes a party to the contractual provisions of the instrument. Trade date accounting is adopted for financial assets that are delivered within time frames established by marketplace convention. Financial instruments are initially measured at fair value plus transactions costs where the instrument is not classified at fair value through profit or loss. Transaction costs related to instruments classified as at fair value through profit or loss are expensed to profit or loss immediately. Financial instruments are classified and measured as set out below. Derecognition Financial assets are derecognised where the contractual rights to receipt of cash flows expires or the asset is transferred to another party whereby the group no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are either discharged, cancelled or expire. The difference between the carrying value of the financial liability extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non-cash assets or liabilities assumed is recognised in profit or loss. Classification and Subsequent Measurement (i) Financial assets at fair value through profit or loss Financial assets are classified at fair value through profit or loss when they are held for trading for the purpose of short term profit taking, where they are derivatives not held for hedging purposes, or designated as such to avoid an accounting mismatch or to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Realised and unrealised gains and losses arising from changes in fair value are included in profit or loss in the period in which they arise. (ii) Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost using the effective interest rate method. (iii) Held-to-maturity investments Held-to-maturity investments are non-derivative financial assets that have fixed maturities and fixed or determinable payments, and it is the group’s intention to hold these investments to maturity. They are subsequently measured at amortised cost using the effective interest rate method. (iv) Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are either designated as such or that are not classified in any of the other categories. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments. (v) Financial liabilities Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost using the effective interest rate method. Fair value Fair value is determined based on current bid prices for all quoted investments. Valuation techniques are applied to determine the fair value for all unlisted securities, including recent arm’s length transactions, reference to similar instruments and option pricing models. Impairment At each reporting date, the group assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the Statement of Comprehensive Income.





g. Impairment of Assets At each reporting date, the group reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the Statement of Comprehensive Income. Where the future economic benefits of the asset are not primarily dependent upon on the assets ability to generate net cash inflows and when the group would, if deprived of the asset, replace its remaining future economic benefits, value in use is depreciated replacement cost of an asset. Where it is not possible to estimate the recoverable amount of an assets class, the group estimates the recoverable amount of the cash-generating unit to which the class of assets belong. h. Employee Benefits Provision is made for the group’s liability for employee benefits arising from services rendered by employees to Statement of Financial Position date. Employee benefits expected to be settled within one year together with benefits arising from wages, salaries and annual leave which may be settled after one year, have been measured at the amounts expected to be paid when the liability is settled. Other employee benefits payable later than one year have been measured at the net present value. Contributions are made by the group to an employee superannuation fund and are charged as expenses when incurred.i. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.j. Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables in the Statement of Financial Position are shown inclusive of GST. Cash flows are presented in the Statement of Cashflows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.k. Deferred Revenue The group bills affiliation fees to its affiliated members in June based on the number of members in the prior financial year for the next twelve months. It is the policy of the group to treat affiliation fees received in advance as deferred revenue in the Statement of Financial Position where the group is contractually obliged to provide the services in a subsequent financial period.l. Contributions Golf Queensland receives non-reciprocal contributions from the government and other parties for no or a nominal value. These contributions are recognised at the fair value on the date of acquisition upon which time an asset is taken up in the Statement of Financial Position and revenue in the Statement of Comprehensive Income.m. Income Tax No provision for income tax has been raised as the group is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.n. Intangibles Software and website Software and websites are recorded at cost. Software and website has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and two years. It is assessed annually for impairment. The amortisation rate used for intangible software is 40%.o. Provisions Provisions are recognised when the group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.





p. Critical Accounting Estimates and Judgments The directors evaluate estimates and judgments incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the group. Key estimates — Impairment The group assesses impairment at each reporting date by evaluating conditions specific to the group that may lead to impairment of assets. Where an impairment trigger exists, the recoverable amount of the asset is determined. Fair value less costs to sell or current replacement cost calculations performed in assessing recoverable amounts incorporate a number of key estimates.q. Accounting Standards Issued But Not Yet Effective At the date of authorisation of the financial report, certain Standards and Interpretations have been issued, but are not mandatory for the year ended 31 December 2013. These standards and interpretations have not been adopted in preparing the financial report for the year ended 31 December 2013 and are not expected to impact materially on the group in the period of initial application. The directors anticipate that the adoption of these Standards and Interpretations in future years will have no material impact on the recognition, measurement or disclosure of Golf Queensland Limited’s financial report.




Group 2013 2012 $ $NOTE 2: REVENUE Operating Activities Capitation fees 2,184,719 2,045,832Grants 411,707 400,440Entry fees 313,850 275,102Interest 51,923 60,568Sponsorship 330,970 55,587Other 17,631 15,804Total Revenue 3,310,800 2,853,333NOTE 3: EXPENSESExpensesProject and program expenses—Employment expenses 32,055 18,085—Member support services 427,015 291,332—Accommodation & travel 243,822 202,669—Communications 35,857 37,041—Advertising & promotion 266,166 182,715—Consultancy fees 218,054 222,232—Grants 50,827 42,507Total project and program expenses 1,273,796 996,581

Depreciation and amortisation -Buildings 39,538 40,465-Motor vehicles 22,699 25,705-Furniture & equipment 28,966 23,871-Software & website 3,303 5,506Total Depreciation expense 94,506 95,547 Total employee benefits expense 830,267 707,589 Auditor remuneration -for audit of financial report 13,500 13,000-for other services - -




Group 2013 2012 $ $

NOTE 4: CASH AND CASH EQUIVALENTSCURRENT

Cash at bank 1,661,312 1,986,059

Cash on hand 200 200

1,661,512 1,986,259

NOTE 5: TRADE AND OTHER RECEIVABLESCURRENT

Trade receivables 115,377 57,374

Provision for impairment of receivables 5(i) - -

115,377 57,374

Prepayments 413,514 351,397

Sundry debtors 2,624 4,909

531,515 413,680

(i) Provision for Impairment of Receivables

Current trade receivables are generally on 30 day terms. These receivables are assessed for recoverability and a provision for impairment is recognised when there is objective evidence that an individual trade receivable is impaired. These amounts have been included in other expense items.

NOTE 6: FINANCIAL ASSETSNON CURRENT

Investment in Club Plus Pty Ltd 1 1

1 1




Notes Group 2013 2012 $ $NOTE 7: PROPERTY, PLANT AND EQUIPMENTLAND AND BUILDINGSGQ Training CentreLand at valuation i) 700,000 700,000Buildings at valuation ii) 650,000 650,000Less accumulated depreciation (1,021) (74,848)Land and buildings at GQ training centre 1,388,979 1,275,152

Units 2 & 3 at Walden PlaceUints 2 & 3 at valuation ii) 1,195,000 1,110,000Less accumulated depreciation (1,178) (82,795) 1,193,822 1,027,205Total land and buildings 2,582,801 2,302,357

OFFICE EQUIPMENT & FURNITURE Office equipment and furniture - at cost 355,576 318,737Less accumulated depreciation (226,310) (197,345) 129,266 121,392

Trophies owned 18,257 18,257Total office equipment and furniture 147,523 139,649

MOTOR VEHICLESMotor Vehicles - at cost 108,961 108,842Less accumulated depreciation (42,710) (40,916)Total motor vehicles 65,797 68,045

Total property, plant and equipment 2,796,121 2,510,051i) Historical cost of land at GQ training centre is $119,114ii) Historical cost of building at GQ training centre is $692,978 and Units 2 & 3 at Walden Place is $720,864.The parent’s office building was revalued on 10 February 2009 at $1,110,000 by independent valuers. The subsidiary’s land and buildings were revalued on 12 February 2009 at $1,350,000 by independent valuers. Valuations were made on the basis of open market value. The revaluation surplus was credited to an asset revaluation reserve in shareholders’ equity.




Note 7: Property, Plant and Equipment (continued)

2013Movements in Carrying Amounts Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year: Land and Buildings Motor Vehicles Office Equipment and Furniture Total $ $ $ $Balance at the beginning of the period 2,302,357 68,045 139,649 2,510,051Additions at cost - 31,241 36,840 68,081

Disposals - (10,790) - (10,790)

Depreciation expense (39,538) (22,699) (28,966) (91,203)

Revaluation 319,982 - - 319,982

Carrying amount at end of period 2,582,801 65,797 147,523 2,796,121

2012Movements in Carrying Amounts Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year: Land and Buildings Motor Vehicles Office Equipment and Furniture Total $ $ $ $Balance at the beginning of the period 2,342,822 80,006 155,339 2,578,167Additions at cost - 25,109 8,181 33,290Disposals - (11,365) - (11,365)Depreciation expense (40,465) (25,705) (23,871) (90,041)Carrying amount at end of period 2,302,357 68,045 139,649 2,510,051

On 23 December 2010, the consolidated group granted a call option to Springfield Land Corporation (“SLC”) over the GQ Training Centre (land and building). A nominal payment to the consolidated group of $1 served as the option fee. As part of the arrangement, SLC also has the first and last right of refusal to purchase the land and buildings within the terms of the option.

This arrangement has been carefully considered by the Board and the Board is of the view that it was made on sound commercial terms as, should the option be exercised, it provides some assurances to the consolidated group of a minimum price of $1.45m (indexed to CPI) which is higher than a recent valuation of the land. There is also an option under the arrangement for SLC to construct a like for like facility (including land) in lieu of the purchase price. Should the option be exercised the arrangement also provides sufficient time for alternative arrangements to be made.

The option can be exercised with effect from 23 December 2012 and expires 23 December 2015. At the date of this financial report, the Directors have not been made aware of any intention by SLC to exercise this option.




Group 2013 2012 $ $NOTE 8: INTANGIBLE ASSETSSoftware and websiteCost 57,038 57,038Accumulated amortisation (52,084) (48,781)Net carrying value 4,954 8,257

2013Movements in Carrying Amounts Software & Website Total Balance at the beginning of the period 8,257 8,257Additions - -Amortisation charge (3,303) (3,303) 4,954 4,954

2012Movements in Carrying Amounts Software & Website Total Balance at the beginning of the period 13,763 13,763Additions - -Amortisation charge (5,506) (5,506) 8,257 8,257

NOTE 9: OTHER RECEIVABLESLoan - Joint Venture Golf Holdings Pty Ltd - -

NOTE 10: TRADE AND OTHER PAYABLESCURRENTTrade payables - -Deferred income - grants (336) 311,371Deferred income – capitation fees 1,121,791 1,140,441Other current payables 153,158 181,752Employee benefits 128,139 90,250 1,402,752 1,723,814 Group

NOTE 11: PROVISIONSNON-CURRENTLong service leave 27,390 18,928 27,390 18,928

NOTE 12: RESERVESAsset Revaluation ReserveThis reserve records the revaluation of land and buildings.




Post- employment Benefits

Group 2013 2012 $ $NOTE 13: CAPITAL AND LEASING COMMITMENTSa. Operating Lease Commitments

Non-cancellable operating leases contracted for butnot capitalised in the financial statementsPayable — minimum lease payments

—not later than 12 months 13,013 13,013—later than 12 months but not later than 5 years 17,728 30,741

30,741 43,754Operating leases are for office equipment which includes the photocopier and telephone system.

Note 14: CONTINGENT ASSETS AND LIABILITIESThere are no contingent assets or liabilities.Note 15: EVENTS AFTER THE BALANCE DATEAs at the date of this report there are no matters or circumstances that have significantly affected, or may affect the group’s operations in future financial years, the group’s results in the future period, or the group’s state of affairs during future financial years.Note 16: KEY MANAGEMENT PERSONNEL COMPENSATION $ $ $2013Total compensation 116,317 10,487 126,8042012Total compensation 113,111 10,065 123,176

NOTE 17: RELATED PARTY TRANSACTIONSTransactions between related parties are on normal commercial terms and conditions are no more favourable than those available to other persons unless otherwise stated.

Group 2013 2012 $ $NOTE 18: CASH FLOW INFORMATIONa. Reconciliation of Cash

Cash at bank 1,661,312 1,986,059

Other cash 200 200

1,661,512 1,986,259

TotalShort TermBenefits




Group 2013 2012 $ $

b. Reconciliation of Cashflow from Operations with Profit after Income Tax

(Profit)/Loss after income tax 72,151 12,032

Non cash flows

Depreciation and amortisation 94,506 95,548 Loss/(Gain) on disposal of fixed assets - - Changes in assets and liabilities (Increase)/decrease in trade and other receivables (117,835) (8,667) (Increase)/decrease in inventory (3,678) 4,226 Increase/(decrease) in trade and other payables (30,872) 48,477 Increase/(decrease) in deferred revenue (330,357) 448,360 Increase/(decrease) in long service leave 8,462 7,128 Increase/(decrease) in annual leave 37,889 (1,757) Cash flows provided by operating activities (269,734) 605,347

NOTE 19: FINANCIAL RISK MANAGEMENTThe group’s financial instruments consist mainly of deposits with banks, accounts receivable and payable and leases.The totals for each category of financial instruments, measured in accordance with the accounting policies as recorded in the notes to these financial statements, are as follows: Note 2012 2011 $ $Financial AssetsCash and cash equivalents 4 1,986,259 1,402,838Trade and Other Receivables 5 413,680 405,013

Total Financial Assets 2,399,939 1,807,851

Financial LiabilitiesFinancial liabilities at amortised cost –Trade and other payables 10 1,723,814 1,228,734Total Financial Liabilities 1,723,814 1,228,734

Group




Financial Risk Management PoliciesThe group’s financial instruments consist mainly of deposits with banks, accounts receivable and payable. The group does not have any derivative instruments at 31 December 2013.i. Treasury Risk ManagementThe Directors have overall responsibility for the determination of the Group’s risk management objectives. The Group’s risk management policies and objectives are designed to minimise the potential impacts of financial instruments risks on the results of the Group where such impacts may be material. ii. Financial Risk Exposures and ManagementThe main risks the group is exposed to through its financial instruments are interest rate risk, liquidity risk and credit risk.Interest rate riskThe group’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those financial assets and financial liabilities.Liquidity riskThe group manages liquidity risk by regularly monitoring the management accounts.Credit riskThe maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets is the carrying amount, net of any provisions for doubtful debts, as disclosed in the Statement of Financial Position and notes to the financial statements. Specific Financial Risk Exposures and ManagementThe main risks the group is exposed to through its financial instruments are credit risk, liquidity risk and market risk relating to interest rate risk.a Credit risk

Exposure to credit risk relating to financial assets arises from the potential non-performance by counterparties of contract obligations that could lead to a financial loss for the group.The group does not have any material credit risk exposure as its major source of revenue is the receipt of affiliation fees.Credit Risk ExposuresThe maximum exposure to credit risk by class of recognised financial assets at the end of the reporting period is equivalent to the carrying value and classification of those financial assets (net of any provisions) as presented in the statement of financial position.Trade and other receivables that are neither past due or impaired are considered to be of high credit quality.The group has no significant concentration of credit risk exposure to any single counterparty or group of counterparties. Details with respect to credit risk of Trade and Other Receivables are provided in Note 5.Credit risk related to balances with banks and other financial institutions is managed by the finance committee in accordance with approved Board policy. The following table provides information regarding the credit risk relating to cash and money market securities based on Standard & Poor’s counterparty credit ratings.

Note 2013 2012 $ $Cash and cash equivalents 1,661,312 1,986,059–AA rated 4 1,661,312 1,986,059b. Liquidity risk

Liquidity risk arises from the possibility that the group might encounter difficulty in settling its debts or otherwise meeting its obligations in relation to financial liabilities. The group manages this risk through the following mechanisms:

• preparing forward looking cash flow analysis in relation to its operational, investing and financing activities;• maintaining a reputable credit profile;• managing credit risk related to financial assets;• only investing surplus cash with major financial institutions; and• comparing the maturity profile of financial liabilities with the realisation profile of financial assets.

Group




NOTE 19: FINANCIAL RISK MANAGEMENT (CONTINUED)b. Liquidity risk (Continued)

The tables below reflect an undiscounted contractual maturity analysis for financial liabilities. Cash flows realised from financial assets reflect management’s expectation as to the timing of realisation. Actual timing may therefore differ from that disclosed. The timing of cash flows presented in the table to settle financial liabilities reflects the earliest contractual settlement dates.

Financial liability and financial asset maturity analysis Within 1 Year Total 2013 2012 2013 2012 $ $ $ $Financial liabilities due for paymentTrade and other payables (excluding estimated annual leave and deferred income) 153,158 181,752 153,158 181,752Total expected outflows 153,158 181,752 153,158 181,752

Financial Assets — cash flows realisableCash and cash equivalents 1,661,512 1,986,259 1,661,512 1,986,259Trade and other receivables 531,515 413,680 531,515 413,680Total anticipated inflows 2,193,027 2,399,939 2,193,027 2,399,939Net (outflow)/inflow on financial instruments 2,039,869 2,218,187 2,039,869 2,218,187

c. Market Risk i.Interest rate risk Exposure to interest rate risk arises on financial assets and financial liabilities recognised at the end of the reporting period whereby a future change in interest rates will affect future cash flows or the fair value of fixed rate financial instruments. The group is also exposed to earnings volatility on floating rate instruments. The financial assets of the group consisted of cash and cash equivalents and trade and other receivables.ii.Sensitivity Analysis The following table illustrates sensitivities to the group’s exposures to changes in interest rates. The table indicates the impact on how profit and equity values reported at the end of the reporting period would have been affected by changes in the relevant risk variable that management considers to be reasonably possible. These sensitivities assume that the movement in a particular variable is independent of other variables.

Profit Equity $ $Year ended 31 December 2013+/- 2% in interest rates +/- 33,226 +/- 33,226

Year Ended 31 December 2012+/- 2% in interest rates +/- 39,725 +/- 39,725

d. Net Fair Valuesi. Fair value estimationThe net fair values of all financial assets and liabilities approximate their carrying value. No financial assets and financial liabilities are readily traded on organised markets in standardised form. The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the Statement of Financial Position and in the notes to the financial statements.ii Financial instruments measured at fair valueThere are no financial instruments recognised at fair value in the statement of financial position.




NOTE 20: INFORMATION RELATING TO GOLF QUEENSLAND LIMITED (“the parent ENTITY”) 2013 2012 $ $Current assets 2,206,987 2,410,221Total assets 3,619,036 4,337,939Current liabilities 703,222 1,709,194Total liabilities 730,612 1,728,122Retained earnings 1,796,516 1,705,525Reserves 1,091,908 904,292

Profit or loss of the parent entity 90,991 32,774Other comprehensive income – revaluation of L&B - -Total comprehensive income of the parent entity 90,991 32,774

NOTE 21: ENTITY DETAILSThe registered office of the entity is:Golf Queensland LimitedUnit 2, 14 Wren street BOWEN HILLS, QLD 4006

The principal place of business is:Golf Queensland LimitedUnit 2, 14 Wren street BOWEN HILLS, QLD 4006

NOTE 22: MEMBERS’ GUARANTEEThe parent is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is wound up, the constitution states that each member is required to contribute a maximum of $2 each towards meeting any outstandings and obligations of the entity. At 31 December 2013 the number of members was 18.

NOTE 23: CONTROLLED ENTITIES Country of Incorporation Parent Entity 2013 2012 % %Controlled Entities Consolidated Subsidiaries of Golf Queensland Limited: Joint Venture Golf Holdings Pty Ltd Australia 100 100



Golf Queensland Limited ACN 126 091 450Golf Queensland Limited ACN 126 091 450

Directors’ DeclarationThe directors of the consolidated group declare that:

1. The financial statements and notes, as set out on pages 7 to 28 are in accordance with the Corporations Act 2001:

a. comply with Accounting Standards and the Corporations Regulations 2001; and

b. give a true and fair view of the financial position as at 31 December 2013 and of the performance for the year ended on that date of the group.

2. In the directors’ opinion there are reasonable grounds to believe that the group will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Peter Castrisos (Director)

Dated this day of 2014



BDO Audit (QLD) Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO (Australia) Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit (QLD) Pty Ltd and BDO (Australia) Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation (other than for the acts or omissions of financial services licensees) in each State or Territory other than Tasmania.

INDEPENDENT AUDITOR’S REPORTTo the members of Golf Queensland Limited

We have audited the accompanying financial report of Golf Queensland Limited, which comprises the consolidated statement of financial position as at 31 December 2013, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at the year’s end or from time to time during the financial year.

Directors’ Responsibility for the Financial ReportThe directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

IndependenceIn conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of Golf Queensland Limited, would be in the same terms if given to the directors as at the time of this auditor’s report.



Opinion In our opinion, the financial report of Golf Queensland Limited is in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2013 and of its performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards and the Corporations Regulations 2001.

BDO Audit Pty Ltd

Mark Taylor

Director

Brisbane, 7 March 2014


Affiliated Club Membership

District key B&DLGA Brisbane and District Ladies Golf AssociationBDGA Brisbane District Golf AssociationD&SWDLGA Downs and South West District Ladies Golf AssociationDDGA Darling Downs Golf AssociationFNQDLGA Far North Queensland District Ladies Golf AssociationFNQGA Far North Queensland Golf AssociationGCDGA Gold Coast District Golf AssociationGCH Golf Central HighlandsGCQ Golf Central QueenslandGCW Golf Central WestGNQ Golf North QueenslandGWB Golf Wide BayMDGA Moreton District Golf AssociationSCSBDGA Sunshine Coast South Burnett District Golf AssociationSEQDGA South East Queensland District Golf AssociationSWQGA South West Queensland Golf AssociationWBBDWGA Wide Bay Burnett District Womens Golf AssociationWGGC Womens Golf Gold Coast


Affiliated Club MembershipTotal Membership of District Golf AssociationMEN'S DISTRICT WOMEN'S DISTRICT CLUB NAME MEN WOMEN TOTALGCQ GCQ 1770 Golf Club 72 11 83 DDGA Allora Golf Club 21 21 GCW GCW Alpha Golf Club 18 8 26 GCDGA WGGC Arundel Hills Golf Club 349 73 422 BDGA B&DLGA Ashgrove Golf Club 421 88 509 FNQGA FNQDLGA Atherton Golf Club 131 46 177 SWQGA D&SWDLGA Augathella Golf Club 11 11 GNQ GNQ Ayr Golf Club 135 38 173 FNQGA FNQDLGA Babinda Golf Club 15 4 19 GCQ GCQ Baralaba Golf Club 17 7 24 GCW GCW Barcaldine Golf Club 31 2 33 GWB WBBDWGA Bargara Golf Club 442 145 587 SEQDGA B&DLGA Bay Islands Golf Club 124 33 157 SEQDGA WGGC Beaudesert Golf Club 202 49 251 SCSBDGA WBBDWGA Beerwah & District Memorial Golf Club Inc 691 173 864 DDGA D&SWDWGA Bell Golf Club 42 10 52 GWB WBBDWGA Biggenden Golf Club 34 6 40 GCQ GCQ Biloela Golf Club 114 27 141 GNQ GNQ Black Springs Golf Club 120 8 128 GCW GCW Blackall Golf Club 29 6 35 SCSBDGA WBBDWGA Blackbutt Golf Club 86 26 112 GCH GCH Blackwater Golf Club 56 10 66 GCDGA WGGC Boomerang Farm Golf Club 100 45 145 MDGA B&DLGA Boonah Golf Club 160 27 187 GWB WBBDWGA Boonooroo Golf Club 9 2 11 DDGA D&SWDWGA Borneo Barracks Golf Club 115 26 141 GNQ GNQ Boulia Golf Club 17 3 20 GNQ GNQ Bowen Golf Club 152 72 224 GCQ GCQ Boyne Island Tannum Sands Golf Club 157 57 214 SCSBDGA WBBDWGA Bribie Island Golf Club 528 177 705 BDGA B&DLGA Brisbane Golf Club 1163 318 1,481 MDGA B&DLGA Brookwater Golf Club 158 30 188 GWB WBBDWGA Bundaberg Golf Club 373 98 471 GCDGA WGGC Burleigh Golf Club 768 203 971 GWB WBBDWGA Burrum District Golf Club 129 49 178 SCSBDGA WBBDWGA Caboolture Golf Club 312 68 380 FNQGA FNQDLGA Cairns Golf Club 625 141 766 GCQ GCQ Calliope Golf Club 204 27 231 SCSBDGA WBBDWGA Caloundra Golf Club 659 214 873 GCDGA WGGC Canungra Area Golf Club 71 19 90 GCH GCH Capella Golf Club 13 1 14 GCQ GCQ Capricorn Country Golf Club 200 37 237 GCQ GCQ Capricorn International Golf Club 86 16 102 SEQDGA B&DLGA Carbrook Golf Club 569 75 644 FNQGA FNQDLGA Cardwell Golf Club 40 13 53 FNQGA FNQDLGA Carpentaria Golf Club 61 12 73


Affiliated Club MembershipMEN’S DISTRICT WOMEN’S DISTRICT CLUB NAME MEN WOMEN TOTALDDGA D&SWDWGA Cecil Plains Golf Club 35 11 46 SEQDGA B&DLGA Chambers Pines Golf Club 55 12 67 SWQGA D&SWDLGA Charleville Golf Club 54 6 60 GNQ GNQ Charters Towers Golf Club 94 24 118 SWQGA D&SWDLGA Chinchilla Golf Club 62 15 77 DDGA D&SWDWGA City Golf Club 868 110 978 GCH GCH Clermont Golf Club 67 23 90 DDGA D&SWDWGA Clifton Golf Club Inc 66 20 86 SCSBDGA WBBDWGA Club Pelican Golf Club 371 129 500 GNQ GNQ Collinsville Golf Club 33 8 41 SWQGA D&SWDLGA Condamine Golf Club 4 FNQGA FNQDLGA Cooktown Golf Club 67 15 82 GCDGA WGGC Coolangatta/Tweed Heads Golf Club 1370 355 1,725 SCSBDGA WBBDWGA Cooroy Golf Club 258 67 325 GWB WBBDWGA Coral Cove International Golf Club 126 32 158 GWB WBBDWGA Craignish Golf Club 57 20 77 DDGA D&SWDWGA Crows Nest Golf Club 56 9 65 SWQGA D&SWDLGA Cunnamulla Golf Club 16 8 24 DDGA D&SWDWGA Dalby Golf Club 190 30 220 SWQGA D&SWDLGA Dirranbandi Golf Club 16 8 24 GCQ GCQ Duaringa Golf Club 14 3 17 SWQGA D&SWDLGA Dunkeld Golf Club 5 5 GCH GCH Dysart Golf Club 66 10 76 GWB WBBDWGA Eidsvold Golf Club 12 2 14 FNQGA FNQDLGA El Arish Golf Club 32 17 49 GCH GCH Emerald Golf Club 325 37 362 GCDGA WGGC Emerald Lakes Golf Club 559 192 751 GCQ GCQ Emu Park Golf Club 92 26 118 MDGA B&DLGA Esk Country Golf Club 38 2 40 GWB WBBDWGA Fraser Lakes Golf Club 14 1 15 BDGA B&DLGA Gailes Golf Club 532 84 616 SEQDGA WGGC Gainsborough Greens Golf Club 191 37 228 DDGA D&SWDWGA Gatton Jubilee Golf Club 203 29 232 GWB WBBDWGA Gayndah Golf Club 55 20 75 FNQGA FNQDLGA Georgetown Golf Club 10 10 GWB WBBDWGA Gin Gin Golf Club 51 7 58 GCQ GCQ Gladstone Golf Club 460 70 530 GNQ GNQ Glenden Golf Club 58 3 61 GCDGA WGGC Gold Coast Country Club 420 49 469 DDGA D&SWDWGA Goombungee Golf Club 62 14 76 SCSBDGA WBBDWGA Goomeri Golf Club 36 8 44 SWQGA D&SWDLGA Goondiwindi Golf Club 254 41 295 FNQGA FNQDLGA Gordonvale Golf Club 233 53 286 GCQ GCQ Gracemere Lakes Golf Club 135 17 152 GNQ GNQ Greenvale Golf Club 12 12 SCSBDGA WBBDWGA Gympie Pines Golf Club 205 51 256 FNQGA FNQDLGA Half Moon Bay Golf Club 457 120 577 GNQ GNQ Hamilton Island


Affiliated Club MembershipMEN’S DISTRICT WOMEN’S DISTRICT CLUB NAME MEN WOMEN TOTALMDGA B&DLGA Hattonvale Tavern & Golf Club 65 18 83 SCSBDGA WBBDWGA Headland Golf Club 765 216 981 GCDGA WGGC Helensvale Golf Club 304 84 388 GWB WBBDWGA Hervey Bay Golf Club 556 149 705 SEQDGA B&DLGA Hills International Golf Club 147 22 169 GNQ GNQ Home Hill Golf Club 25 10 35 GCDGA WGGC Hope Island Golf Club 435 140 575 SCSBDGA WBBDWGA Horton Park Golf Club 915 247 1,162 GNQ GNQ Hughenden Golf Club 25 10 35 GCW GCW Ilfracombe Golf Club 21 4 25 BDGA B&DLGA Indooroopilly Golf Club 1202 360 1,562 GNQ GNQ Ingham Golf Club 59 14 73 SWQGA D&SWDLGA Inglestone Golf Club 15 6 21 DDGA D&SWDWGA Inglewood Golf Club 30 11 41 SWQGA D&SWDLGA Injune Golf Club 20 20 GWB WBBDWGA Innes Park Golf Club 42 17 59 FNQGA FNQDLGA Innisfail Golf Club 64 20 84 MDGA B&DLGA Ipswich Golf Club 348 70 418* GWB WBBDWGA Isis Golf Club 84 22 106 GCW GCW Isisford Golf Club 9 6 15 DDGA D&SWDWGA Jandowae Golf Club 37 17 54 BDGA B&DLGA Jindalee Golf Club 328 54 382 MDGA B&DLGA Karana Downs Golf Club 4 4 GNQ GNQ Karumba Golf Club 4 4 BDGA B&DLGA Keperra Golf Club 911 129 1,040 SCSBDGA WBBDWGA Kilcoy Golf Club 98 22 120 SCSBDGA WBBDWGA Kilkivan Country Club 20 1 21 SCSBDGA WBBDWGA Kingaroy Golf Club 157 30 187 SCSBDGA WBBDWGA Kumbia Golf Club 26 6 32 MDGA B&DLGA Laidley Golf Club 128 34 162 GCDGA WGGC Lakelands Golf Club 283 86 369 GNQ GNQ Lavarack Golf Club 153 57 210 SEQDGA B&DLGA Logan Country Club 508 85 593 GCW GCW Longreach Golf Club 34 8 42 MDGA B&DLGA Lowood Golf Club 93 23 116 GNQ GNQ Mackay Golf Club 536 140 676 GNQ GNQ Magnetic Island Golf Club 75 38 113 SCSBDGA WBBDWGA Maleny Golf Club 14 2 16 FNQGA FNQDLGA Mareeba Golf Club 128 17 145 GWB WBBDWGA Maryborough Golf Club 339 64 403 BDGA B&DLGA McLeod Country Golf Club 400 329 729 GCH GCH Middlemount Golf Club 69 12 81 SWQGA D&SWDLGA Miles Golf Club 16 14 30 FNQGA FNQDLGA Millaa Millaa Golf Club 51 14 65 DDGA D&SWDWGA Millmerran Golf Club 73 8 81 FNQGA Mirage Country Club GCQ GCQ Miriam Vale Golf Club 36 26 62 SWQGA D&SWDLGA Mitchell Golf Club 24 5 29 *An estimate based on figures prior to insolvency


Affiliated Club MembershipMEN’S DISTRICT WOMEN’S DISTRICT CLUB NAME MEN WOMEN TOTAL GWB WBBDWGA Monto Golf Club 52 10 62 GCH GCH Moranbah Golf Club 220 15 235 FNQGA FNQDLGA Mossman Golf Club 128 37 165 GCQ GCQ Moura Golf Club 47 8 55 SCSBDGA WBBDWGA Mt Coolum Golf Club 568 164 732 GNQ GNQ Mt Isa Golf Club 120 2 122 GCQ GCQ Mt Morgan Golf Club 17 2 19 GWB WBBDWGA Mt Perry Golf Club 16 3 19 SEQDGA B&DLGA Mt Warren Park Golf Club 393 84 477 FNQGA FNQDLGA Mt. Garnet Golf Club 8 8 16 GWB WBBDWGA Mundubbera Golf Club 51 20 71 SCSBDGA WBBDWGA Murgon Golf Club 81 15 96 GCW GCW Muttaburra Golf Club 21 21 GNQ GNQ Mystic Sands Golf Club 45 14 59 SCSBDGA WBBDWGA Nambour Golf Club 533 73 606 SCSBDGA WBBDWGA Nanango Golf Club 84 38 122 SCSBDGA WBBDWGA Noosa Springs Golf Club 133 81 214 SCSBDGA WBBDWGA Noosa Valley Golf Club 3 3 6 SCSBDGA B&DLGA North Lakes Golf Club 241 25 266 SEQDGA B&DLGA North Stradbroke Island Golf Club 54 8 62 BDGA B&DLGA Nudgee College Golf Club 188 0 188 BDGA B&DLGA Nudgee Golf Club 1047 213 1,260 DDGA D&SWDWGA Oakey Golf Club 32 15 47 GWB WBBDWGA Oakwood Park Golf Club 93 15 108 BDGA B&DLGA Oxley Golf Club 612 141 753 BDGA B&DLGA Pacific Golf Club 951 276 1,227 SCSBDGA WBBDWGA Pacific Harbour Golf Club 180 101 281 GCDGA WGGC Palm Meadows Golf Club 320 38 358 GCDGA WGGC Palmer Colonial 714 61 775 GCDGA WGGC Palmer Gold Coast 670 62 732 SCSBDGA WBBDWGA Palmer Resort 100 11 111 FNQGA FNQDLGA Palmer Sea Reef 154 26 180 FNQGA FNQDLGA Paradise Palms Golf Club 331 25 356 GCDGA WGGC Parkwood International Golf Club 432 72 504 SCSBDGA WBBDWGA Peregian Springs Golf Club 339 109 448 SCSBDGA B&DLGA Pine Rivers Golf Club 374 39 413 GNQ GNQ Pioneer Valley Golf Club 163 22 185 DDGA D&SWDWGA Pittsworth Golf Club 148 43 191 GNQ GNQ Proserpine Golf Club 239 77 316 SCSBDGA WBBDWGA Proston District Golf Club 14 6 20 SWQGA D&SWDLGA Quilpie Golf Club 10 2 12 GCDGA WGGC RACV Royal Pines Golf Club 160 32 192 FNQGA FNQDLGA Ravenshoe Golf Club 32 20 52 BDGA B&DLGA Redcliffe Golf Club 855 139 994 SEQDGA B&DLGA Redland Bay Golf Club 665 160 825 GNQ GNQ Richmond Golf Club 22 22 SEQDGA B&DLGA Riverlakes Golf Club 395 60 455 GCQ GCQ Rockhampton Golf Club 647 71 718


Affiliated Club MembershipMEN’S DISTRICT WOMEN’S DISTRICT CLUB NAME MEN WOMEN TOTALSWQGA D&SWDLGA Roma Golf Club 90 19 109 MDGA B&DLGA Rosewood Golf Club 192 38 230 GNQ GNQ Rowes Bay Golf Club 521 114 635 BDGA B&DLGA Royal Queensland Golf Club 1358 385 1,743 GCDGA WGGC Sanctuary Cove Pines Golf Club 634 340 974 BDGA B&DLGA Sandgate Golf Club 215 46 261 MDGA B&DLGA Sandy Gallop Golf Club 553 55 608 GNQ GNQ Sarina Golf Club 101 27 128 GCDGA WGGC Southport Golf Club 939 403 1,342 GCH GCH Springsure Golf Club 38 17 55 SWQGA D&SWDLGA St George Golf Club 65 40 105 DDGA D&SWDWGA Stanthorpe Golf Club 87 19 106 GCDGA WGGC Surfers Paradise Golf Club 465 287 752 GCDGA WGGC Tallebudgera Golf Club 299 82 381 GCDGA WGGC Tally Valley Golf Club 137 35 172 GCW GCW Tambo Golf Club 29 8 37 GCDGA WGGC Tamborine Mountain Golf Club 129 30 159 SWQGA D&SWDLGA Taroom Golf Club 18 8 26 SCSBDGA WBBDWGA Tewantin Noosa Golf Club 586 189 775 DDGA D&SWDWGA Texas Golf Club 30 10 40 GCDGA WGGC The Glades Golf Club 100 11 111 GCDGA WGGC The Grand Golf Club 339 75 414 GCQ GCQ Theodore Golf Club 18 6 24 GCH GCH Tieri Golf Club 32 3 35 SCSBDGA WBBDWGA Tin Can Bay Golf Club 200 87 287 MDGA B&DLGA Toogoolawah Golf Club 50 12 62 DDGA D&SWDWGA Toowoomba Golf Club 721 133 854 GNQ GNQ Torrens Creek Golf Club 6 1 7 GNQ GNQ Townsville Golf Club 463 101 564 FNQGA FNQDLGA Tully Golf Club 68 14 82 SCSBDGA WBBDWGA Twin Waters Golf Club 206 103 309 SEQDGA B&DLGA Village Links Golf Club 67 2 69 BDGA B&DLGA Virginia Golf Club 667 165 832 DDGA D&SWDWGA Wallangarra Golf Club 19 5 24 SCSBDGA B&DLGA Wantima Golf Club 557 148 705 DDGA D&SWDWGA Warwick Golf Club 246 80 326 GNQ GNQ Willows Golf Club 265 26 291 SEQDGA B&DLGA Windaroo Lakes Golf Club 462 58 520 GNQ GNQ Winton Golf Club 15 4 19 BDGA B&DLGA Wolston Park Golf Club 397 35 432 SCSBDGA WBBDWGA Wondai Golf Club 47 9 56 SCSBDGA WBBDWGA Woodford Golf Club 502 66 568 GCQ GCQ Wowan Golf Club 17 6 23 BDGA B&DLGA Wynnum Golf Club 923 158 1,081 GCQ GCQ Yeppoon Golf Club 404 109 513 SWQGA D&SWDLGA Yuleba Golf Club 10 4 14 TOTAL 53887 12965 66848

14 Walden LaneBowen Hills 4006

GPO Box 1518Brisbane QLD 4001

T: (07) 3252 8155F: (07) 3257 1520

W: www.golfqueensland.org.auTwitter: @golfqueensland

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