2010 GCAS Annual Report

Page 1GCAS Annual Report 2010

“Golden opportunitiesthrough sport.”

Annual Report 2010

annual report 2010



GCAS Triathlon Program

GCAS Future Stars Program

Page 2 GCAS Annual Report 2010

Business Area Reports PageChairman’s Report 4

Managing Director’s and Executive Officers Report 7

The Board of Directors 9

Strategic Plan 11

Future Developments 16

Founding Sports Program ReportsGolf 22

Future Stars 24

Football (Soccer) 26

Triathlon 28

Finance ReportsDirector’s Report 33

Auditor’s Independence Declaration 39

Independent Audit Report 40

Directors’ Declaration 42

Detailed Income Statement 43

Income Statement - by Nature 45

Balance Sheet 46

Statement of Cash Flows 47

Notes to the Financial Statements 48

Pool Depreciation Report 56

Contents


GCAS football squad with coaches from the Chelsea FC (UK)

Inaugural Academy Games golf squad


As Chairman of the Gold Coast Academy of Sport, it gives me great pleasure to present this report for the 2010 period – the organisation’s first full year of operation.

Nearly 100 athletes participated in the founding 4 sports programs and over 100 athletes were involved in various come’n’try days and off-season programs.

The four sports programs to be established in the inaugural year for the first regional academy of sport in Queensland included Golf, Future Stars, Football (Soccer) and Triathlon.

With a successful first year to build upon, the number of programs and athletes is expected to increase in 2011 with the academy to provide multiple benefits for the Gold Coast region. The mission of the academy will be to include more mainstream sports and others that will benefit from establishing a program that aims to ‘add value’ to the existing athletic pathway.

The academy will endeavour to offer ‘golden opportunities through sport’ from within our region no matter what the sport. The academy is able to do this and is proud to have established a Future Stars program that caters for athletes who wish to a part of the academy of sport but there is yet to be full squad program established for that sport. This program is also able to cater for more mature age athletes and late developers in sport up to the age of 23 years of age.

The first annual academy awards presentation evening was held at the RACV Royal Pines Resort on Tuesday 16th November where around 250 scholarship athletes, parents, coaches, squad managers and VIP guests were in attendance to witness Jackson Hill (football and future stars) receive the Male Athlete of the Year Award, Katelyn Simpson (future stars) take out the female athlete of the year and Dee Dee Russell (golf) honoured with the Chairman’s Award for 2010.

Sports scientist Reece Norris received recognition for his voluntary efforts to establish the core education program for the academy whilst many fine athletes were awarded program specific awards in their chosen sport. All sport program awards are listed within this annual report. The Leader of the State Opposition, John-Paul Langbroek was a special guest at this event. The special guest athlete interviewed by astute master of ceremonies Mike Rabbitt from NBN television was Sara Carrigan, 2004 Olympic Gold medallist in Cycling and thank you to both of these individuals for their greatly appreciated contribution.

The first ever Mid-Year Appreciation Function and VIP networking function was held on Wednesday 9th June at the RACV Royal

GCAS Chairman Hon Mick Vievers

CHAIRMAn’s RePoRt


Pines Resort and over 200 people were in attendance. This special event was the first opportunity for all of the athletes and parents to come together and allowed the athletes to share their experiences with the board of directors and key sponsors. A truly wonderful evening allowed the academy to give something back to all of our valued supporters. The whole event, refreshments and a seminar by the Greater Building Society on ‘financial fitness’ for the athletes, was staged at the RACV Royal Pines Resort by the academy at no cost to all attendees.

In 2010, the Gold Coast Academy of Sport entered its first invitational team into the academy Games in Armidale during the April school holiday period. A squad of golfers was

able to put their additional training into action against quality opposition from other regional academies of sport from across NSW. The Gold Coast Academy of Sport had the overall net winner of the tournament Antony Lung, the leading female athlete Dee Dee Russell as well as coming runner-up in the team’s event – a truly remarkable result. This demonstrates the strength of junior golf on the Gold Coast now further supported by a supplementary academy golf program. The Gold Coast Academy of Sport is hopeful of taking further teams from a variety of sports to the event in 2011.

Perhaps the most pleasing aspect of the development of this regional academy of sport is not only seeing and hearing about the success of the athletes on the sporting field, but witnessing young people who are

becoming improved citizens in our community, contributing to society through the knowledge and personal development received as a Gold Coast Academy of Sport scholarship athlete.

None of this would be possible without the visionary support of the founding group of business partners – Gold Coast City Council and Business GC, Greater Building Society, RACV Royal Pines Resort, NBN television, Sea and Gold FM and Griffith University. Supporting this highly valued group are official venues, program sponsors and official suppliers. Your combined support is providing these ‘golden opportunities’ for the athletes to follow their dreams and reach their potential within their chosen sports.

The academy is most grateful also to the dedicated group of Directors of Instruction and coaches, managers and other program staff. I thank you all for your commitment and passion towards developing this founding group of sports programs in 2010 upon which the academy may build further in the future. The academy has attracted some of the most experienced coaches on the Gold Coast to oversee the initial programs.

To my fellow board members and the Executive Officer Robert Thompson at the Gold Coast Academy of Sport office at the Carrara Sports Complex, I thank you for your expertise and service during this foundation phase of the business. Our current position of accelerated growth is supported greatly by the outstanding contribution of my fellow board of directors who voluntarily provide invaluable

...witnessing young people who are becoming improved citizens in our community...


advice to the academy. The contribution of our Patron, Councillor Dawn Crichlow OAM is also greatly appreciated. The immediate future of the academy as a result of all this cooperative support is looking extremely bright.

Special mention must be made of Managing Director Ian Robilliard and Operations Manager Luke Tucker whom have both unselfishly shared their experience of establishing the highly successful Central Coast Academy of Sport in NSW. It is unlikely the Gold Coast Academy of Sport would be in the position it is today without their support. As an academy partner of the Central Coast Academy of Sport, the Gold Coast Academy of Sport is increasingly included in plans of the wider regional academy of sport network that extends right across New South Wales and other states of Australia. This develops the Gold Coast’s reputation as a region striving for continuous improvement and excellence in sport both within and outside the region.

Finally, the news late in the year that the Gold Coast Academy of Sport was successful in

gaining an Active Inclusion Grant from the Queensland State Government for a Rugby League program for Indigenous athletes is simply outstanding. This funding is not only supportive of the proposed sports program in Rugby League and its Indigenous junior athletes, but recognition of the role of the regional academy in being able to deliver quality sports development programs in the Gold Coast region in just its first full year of operation. The academy would like to thank Hon Phil Reeves, QLD Minister for Sport for providing funding through the Active Inclusion program. The Gold Coast Academy of Sport has now joined all of the other regional academies of sport in NSW and elsewhere in Australia that are supported with funding by their respective state governments.

I trust that you will continue your support and enjoy your participation in the Gold Coast Academy of Sport in 2011.

Hon Mick VeiversChairman

Chairman Mick Veivers with the GCAS Male Athlete of the Year Jackson Hill (future stars and football/soccer)

Hon Mick Veivers with 2004 Olympic Gold medallist Sara Carrigan, GCAS female athlete of the year

Katelyn Simpson (future stars) and Olympic Gold medallist and GCAS Director Glynis Nunn-Cearns


It is with pleasure that we present this second annual report at the end of the first full year of operation for the Gold Coast Academy of Sport.

2010 was a year of outstanding development of a regional academy of sport for the Gold Coast. The athletes demonstrated some outstanding performance in their various sports, without doubt having benefitted from the additional training and core education sessions in sport that the academy aims to provide. Many developments took place to ensure the organisation will continue to consolidate itself as a not for profit organisation from within the region and from both an operational and financial perspective.

The Chairman has given a summary of the company’s development and we will aim to provide important additional information on the key outcomes for 2010. This report will also outline the future directions for the academy.

One of the most significant outcomes from the 2010 year was the continued funding from the Gold Coast City Council and Business GC. The Economic and Development Department of the Council were able to facilitate funding

to allow for the actioning of plans for the first year of a strategic plan from 2010-2013. In February, a media launch recognised the inclusion of the Greater Building Society

and Griffith University as further business partners of the academy. The academy has a clear direction to be associated and work with like minded companies such as the Greater Building Society and Griffith University who have the best interests of the athletes at heart. The acquisition of QLD State Government funding through an Active Inclusion grant is further recognition of the current and

future potential of the academy to deliver meaningful sports programs to the athletes of the Gold Coast region.

There were many other highlights to the 2010 year including attending our first ever academy Games and the hosting of major community events including the first ever Mid-Year Appreciation Function, Corporate Golf Day and further establishment of the temporary office at the Carrara Sports Complex.

Sponsorship renewals with the RACV Royal Pines Resort, NBN television, Runaway Bay Sports Leadership and Excellence

MAnAgIng dIReCtoRs And exeCutIve offICeRs RePoRt

GCAS managing Director Ian Robilliard (second from right) with from left Mike Jones (Chair Events), Don Magin (CEO Greater Building Society), Hon Mick Veivers (Chairman) and Bob Hagley (Chair Commercial Operations).

GCAS Executive Officer Robert Thompson


Centre (Sports Super Centre) and E-Z-GO Golf Cars were all confirmed. All of these announcements were simply outstanding during the fledgling phase of establishment.

The Gold Coast Academy of Sport supported 4 fully functional programs and trialled 2 others in 2010, meeting its target of growth agreed in cooperation with the Gold Coast City Council. Combined with the staging of the major events, 2010 was a hectic but hugely rewarding year. The plans for 2011 leading up the possible announcement next November of the Gold Coast as the host city of the 2018 Commonwealth Games aim to further establish the regional academy as key stakeholder in the future of sports development on the Gold Coast. The relative growth of the academy organisation is a real demonstration of community engagement and how the establishment of regional academy of sport was a service that was in demand by local pre-elite athletes.

Administration, finance and assets, sport programs, IT and systems, commercial operations, and special events are all key performance areas of this organisation and will be covered in more detail later in this annual report.

The relatively sound business position we may report upon at this point of development is a

direct result of both the committed Board of Directors and support of the various sponsors that are also recognised in this report. We would like to express our thanks to Hon Mick Veivers, Gavin Kirkman, Bob Hagley, Mike Jones, Professor Michael Davidson, Glynis Nunn-Cearns and Mark Holton for your involvement, dedication and professionalism to ensure the academy delivered it outcomes for its first full year of operation. Support, advice and attendance at program orientations and other major events was readily offered. The unique ‘culture’ of the Gold Coast Academy of Sport will be further reviewed and documented in 2011.

To Operations Manager Luke Tucker, accountant Linda Holton, sport management work experience students from the Griffith University and event volunteers such as Fiona Thompson and Wanda Whitley, our sincere thanks for your support to build the operations of the business during 2010.

The academy is a service to the community of the Gold Coast and welcomes open and honest feedback for the benefits of all involved.

Ian Robilliard Robert ThompsonManaging Director Executive Officer

GCAS Football squad and coaches at a coaching session with the Matlida’s – Australia’s national women’s team prior to the Asian Cup


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

Mr Gavin Kirkman Deputy Chairman

Professor Michael Davidson Chair Sports Science and Education

Mr Bob Hagley Chair Commercial Operations (Inc Sponsorship)

Mr Mark Holton Chair Finance and Audit

Mr Mike Jones Chair Events

Ms Glynis Nunn-Cearns OAM Chair Athlete Services

Mr Ian Robilliard Chair Sport and Business Operations/Managing

The Gold Coast Academy of Sport operates under the direction of a Board of Directors with each director allocated specific portfolio relating to the business of the organisation.

The role of the board is to have primary responsibility on the strategic development of the business, without ‘hands on’ management. The Gold Coast Academy of Sport has a clear model of Board involvement. The Board do not involve themselves with day to day management; rather, board involvement

has been based on requests made by management staff. The involvement by the Board has been well maintained since the first meeting of the establishment of the business in 2006.

Future plans of the Board (now that the operations of the business have begun to be established) include a comprehensive analysis of the vision, mission and aims of the organisation to be presented in document of the ‘culture’ of the regional academy of sport.

tHe BoARd of dIReCtoRs

GCAS Board of Directors from Left Glynis Nunn-Cearns, Ian Robilliard, Gavin Kirkman (Vice Chairman), Hon. Mick Veivers (Founding Chairman), Robert Thompson (Executive Officer), Mike Jones and Bob Hagley are

joined by Peta-Kaye Croft (State member for Broadwater) and Patron GCCC Councillor Dawn Crichlow OAM (inset top Prof. Michael Davidson and bottom Mark Holton) at the official launch.


• To promote interest, participation and opportunities for athletes of the Gold Coast.

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

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

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

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

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

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

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

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

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

The Gold Coast Academy of Sport will be athlete focused, develop and maintain integrity in the brand, provide professional sports administration to the regions aspiring

athletes, coaches and administrators. The Gold Coast Academy of Sport will exercise the highest ethical standards in all business dealings and undertakings.

The Gold Coast Academy of Sport will establish traditions of excellence in the delivery of sporting programs and events for athletes and sports people of the Gold

Coast of QLD. The Gold Coast Academy of Sport will be a leader in the field of training technologies and will provide the highest level of athlete, coach and industry support.

ouR MIssIon stAteMent

CoRPoRAte vIsIon

AIMs of tHe gCAs as outlined in the constitution:


In 2010, the Gold Coast Academy of Sport released its own unique business plan and strategic plan for the future period 2010-2013. This allows a number of operational performance measures that allows the organisation to grow in accordance with the strategic plan.

A review of these operational measures includes:

Administration 2010 was the first year of the strategic development plan for the period 2010-2013. This document describes many of the key areas that complement directly to the established regional academy of sport network in NSW and the other regional academies of sport in Victoria and Western Australia. The Gold Coast Academy of Sport has been actively modelling a collective approach to sport in the Gold Coast region. This is a model that is likely to be replicated in other regions of Queensland in the years to come.

As the Gold Coast Academy is a direct ‘partner’ of the Central Coast Academy of Sport and as an associate of other regional academies of sport interstate, the commercial opportunities and collective goodwill are able to be extended beyond the borders of the Gold Coast region.

The Gold Coast Academy of Sport is increasingly becoming more recognised as a stakeholder in local sport and is keen to support the broader plans of increased active

lifestyles promoted by both the Gold Coast City Council and the QLD State Government. Both the local council and State Government are regularly updated on the progress of development of the academy and it is hoped that future funding will be forthcoming to reflect the growing nature of the business in line with supporting a strong and sustainable sport and recreational sector on the Gold Coast. The current level of funding support and the opportunity for future funding through a variety of means is and will be a very good example of what can be achieved through the concept of mutuality.

In terms of staff in 2010, Robert Thompson completed his first year as the Executive Officer and main point of contact for the business operations. The Executive Officer role received significant remote and face to face support from the Central Coast Academy of Sport with Ian Robilliard as Managing Director and Luke Tucker as the Operations Manager in order to grow the level of sponsorship and number of sport programs. The ability to market the operations of the academy through local media for a targeted period will be supported with a marketing consultant early in 2011. While this level of staffing was suitable during the establishment phase, as the number of programs increase further, more staff will be required. In the

interim, the academy has cooperatively joined a cluster of other local sporting organisations to secure the part-time services of a Local Sport and Recreation Coordinator, a State

stRAtegIC PlAn

...growing in accordance with the strategic plan...


Government initiative through the Jobs Plan scheme to supply up to 200 additional employees in sport across the state of Queensland over the next 2-3 years.

The core groups of mainly volunteer support staff at the program level (eg Directors of Instruction, assistant coaches, managers, sports trainers, etc) have done an outstanding job in the delivery of the founding programs. They have all actively supported in a hands-on manner the vision of having a robust regional academy of sport on the Gold Coast. It should be noted that each of these individuals devoted a significant amount of time to the development of the initial programs. If the GCAS was to make payment of even a modest reimbursement for all of this time, the organisation would have a further significant expense in its core operations that may or may not be able to be met at this stage of development. From this significant cost saving perspective, it means every athlete is provided with a direct saving when their modest athlete levy is paid. In 2010, there was a charge of no more than $280 for an athlete to join a year-round program and receive significant benefits of quality coaching, uniforms and core education seminars from experts in the field.

finance and AssetsIt is quite pleasing to be able to report the sound financial figures for 2010. In a year where finances remained quite tight, the Gold Coast Academy of Sport was able to establish more than adequately both its program and financial operations.

The net assets or total equity of the academy at the end of the financial year was $97,535 while the cash reserves were developed to a level of 124,793. The ability to be able to generate $304,643 in total income is a good starting achievement. However further sources of income will need to be forthcoming if the academy is to meet the expected growing interest in an increased number of programs. The financial performance of the academy is constantly being reviewed and it is appropriate to acknowledge the founding business partners and other corporate sponsors who have made this result possible.

Early in 2010, it was announced at a significant media launch that the Greater Building Society and Griffith University would join the other founding business partners for multiple year periods. These time frames will allow the academy to further progress.

Core education session for Golf with Reece Norris


The relevance of the academy will be further enhanced if the 2018 Commonwealth Games are awarded to the Gold Coast.

The Gold Coast Academy of Sport is recognised officially as a ‘not for profit’ organisation and has started the ability to receive donations (as a tax deduction to donors) through the Federal Government’s Australian Sports Foundation (ASF). Over $1000 had been received by the end of 2010 and it is hoped that this income facility will further develop in 2011 by individual donors seeing the academy as a most worthy cause.

To all business partners, corporate supporters and other donors, the academy offers its most sincere thanks. Without this level of support, the Gold Coast Academy of Sport would not have been able to make such a significant entrance into the sports marketplace of the Gold Coast in 2010.

sports ProgramsFour founding sports programs were officially launched by the Gold Coast Academy of Sport in 2010. These initial programs were Golf, Future Stars, Football (soccer) and Triathlon and these programs collectively catered for 86 athletes. Together with come’n’try days for a Rugby League program for Indigenous athletes, a sport Aerobics trial day and an off-season Football program, more than 100 athletes benefitted from their association with the Gold Coast Academy of Sport in 2010.

These athletes were exposed not only to expert coaching and practical skill development in their chosen sport, but have been exposed to educational and life skills seminars on topics such as sports psychology, biomechanics of sports actions, Greater Building Society ‘financial fitness’ and nutrition.

Through the growing number of valuable sponsors of the GCAS, athletes are also offered rights of association to discounted physiotherapy services (Body Applications Physiotherapy), sports medicine supplies (IDM Sports), performance clothing and technology devices for enhanced training data.

The GCAS is fortunate to have a committed group of essentially volunteer program staff who actively deliver the training programs to the athletes. The GCAS has been extremely fortunate to be involved with extremely knowledgeable and qualified coaching staff that not only provide a significant amount of time but ensure that their programs are of the highest order to enhance the pathway for the athletes to future success. Many of the coaches have experienced high levels of sport themselves and it is this experience together a

GCAS Football Coaches and Football award recipients at the GCAS Awards Night


high level of coaching expertise that provides a ‘point of difference’ for the programs themselves. The reduced level of honorariums incurred make the programs further fantastic value for money to the athletes.

The first ever GCAS coach’s conference was held prior to the awards night and provided this group with a further opportunity to meet one another and discuss issues in sport in common across all programs.

It and systemsThe Gold Coast Academy of Sport aims to have the cutting edge IT platform possible including secure back-up of an ever increasing amount of data. There is constant need to maintain and upgrade the systems to remain compatible with the growing number of partners with whom the academy communicates with electronically.

The academy website is a major source of communication with the community. In 2010, well over 5000 unique users activated over 500,000 hits on the website. Apart from significant sponsor recognition of support on the website, a sports program ‘hotline’ was introduced to provide interested athletes with the most up to date information about the status of each academy sports program.

Supporting this functionality, the Gold Coast Academy of Sport is supported by the highly successful ‘sports locker’ system. The academy was the first organisation in Queensland to introduce this ‘cutting edge’

system of communication. It has since been implemented by local sporting organisations that have seen the benefits with the GCAS. Modelled on what is offered to members of the Central Coast Academy of Sport, this service provides all members of the academy with a cost effective, dynamic social network. Coaches are able to post educational bulletins to the athletes and all members with a user name and password may communicate efficiently and securely with one another 24 hours a day. In addition, instant SMS messaging from the academy office provides up to minute updates regarding important messages or for example late changes to training sessions.

Commercial operationsAs reported earlier, the Gold Coast Academy of Sport has received a pleasing level of corporate support to establish the operations and several major supporters recommitted to the business prior to the end of 2010. There is an ever increasing view to longer term agreements allowing the academy to expand with confidence to meet an ever increasing need. The amount of short-term financial management is reduced when longer-term agreements are able to be secured. The ability to financially plan ahead is most important for

Academy patron Dawn Crichlow and academy officials with the growing number of athletes and coaches at the Mid-Year Appreciation Function.


organisational stability and our thanks to all corporate supporters who have provided vital support. The GCAS is developing following a very sound investment model that has proved successful since 2004 with the Central Coast Academy of Sport. Future refining of the investment model is conducted regularly in cooperation with the GCAS Board of Directors. Increased corporate support and further development of the investment model will need to be addressed if the GCAS is to reach it strategic plan objectives for 2011.

special eventsA number of special events were initiated in 2010 aiming to bring together sponsors, coaches, athletes, families and the board of directors in a social and ‘networking’ atmosphere.

The first ever ‘Mid-Year Appreciation Function’, ‘Golf Day’ and ‘Annual Presentation Evening’ were three showcasing events that provided a very good corporate platform for the organisation. In addition, the academy was able to announce the introduction of a further two business partners at a significant media launch in February. These events raised the awareness of the efforts of the Gold Coast Academy of Sport and other regional academies and their

aims to build a regional identity. The efforts and achievements of the athletes and coaches within the Gold Coast Academy of Sport were able to be expressed to wider audience than otherwise would be possible.

Since their inception in 2005, the Academy Games have provided competitive opportunities for over 2,500 athletes. The Gold Coast Academy of Sport was pleased to be able to take up the invitation to enter a squad of golfers at the games in Armidale in April. The GCAS will once again participate in the games to be

held in Armidale in 2011.

The GCAS in 2010 became a member of the Gold Coast City Council’s ‘Sports Fusion’ network and continued it associate membership of the QSPORT network with wider Queensland. The GCAS supported events such the Gold Coast City Council’s Science Week Fair and the Griffith University’s career days.

Through hosting or being a part of these special events or groups, the GCAS operates not just in sport but in a much broader context, supporting the education system, community engagement programs, commercial and economic development, leadership opportunities, facility development programs, charity groups and volunteers, minority and disadvantaged groups as well as the core field of sport and recreation.

The GCAS has the ability to effect and be a part of the change that is taking place in one of the fastest growing population corridors in Australia. It will continue to support the Gold Coast City Council bold strategy for the future and the QLD State Government’s objective to develop the healthiest citizens in the nation. The GCAS is will continue to strive for greater relevance and the collective strength of all involved is able to be easily seen in this report.

GCAS Corporate Golf Day and the winning RACV Royal Pines Resort team


Administration The organisation is currently adequately serviced with a temporary office location at the Carrara Sports Complex. The GCAS would like to recognise the Gold Coast City Council for their support of providing a functional administration centre for the operations of the business. Selected office equipment is shared cooperatively with the Gold Coast District Senior and Junior Rugby League providing additional cost savings. The GCAS would like to thank these organisations for their on-going support.

The concept of a purpose built and flexible administration centre domiciled within the Carrara Sports Complex in the future that can cater for additional groups, corporate functions, training rooms, storage and additional staffing will continue to be ‘on the radar’ and a very important development in the growth of the business.

finance and AssetsIn addition to the time devoted to delivering sport programs and special events, a considerable amount of time was spent building the financial capacity of the organisation with the many key corporate partners. It is hoped that this ‘servicing of sponsorship’ will lead to many of these organisations becoming long-term associates and allowing the academy to develop further in the future. With organisations such as the Gold Coast City Council and the RACV Royal Pines Resort confirming their on-going support into 2011, this provides a recurrent funding model upon which the academy may build upon in the future.

To complement this platform, the Gold Coast Academy of Sport will be introducing its own additional projects to further build the capacity of the organisation. At special events and at the locations of business partners, a number of passive donation boxes were introduced with the knowledge that donations of gold coins assist in providing golden opportunities for local athletes. The academy has other plans to partner with local fundraising groups for sportsman’s fundraising luncheons. The introduction of a range of merchandising items for general purchase and a former athlete ‘alumni’ club are other initiatives that are also being considered.

sport Management

It is anticipated that the following sports will be offered in 2011; Golf (25 up from 24), Future Stars (20 up from 11), Football/Soccer (40 up from 34), Triathlon 20 (up from 16). New sports programs will include Rugby League for Indigenous athletes (20-25 athletes) following the acquisition of State Government funding, sport Aerobics (4-6 athletes – possible component within the Future Stars program)

futuRe develoPMents

GCAS Golf Squad enter the Academy Games opening ceremony


with discussions with several other sports initiated in 2010 to be further developed in 2011. The recognition of state government funding will provide enhanced confidence in the role of the academy with mainstream and other sports that are yet to confirm a ‘value-added’ sports program in the current existing athlete pathway. 120-130 registered athletes will be a major undertaking and a robust target to aim for during 2011.

The Gold Coast Academy of Sport will be taking a squad of up to 8 Golf athletes to compete in the academy games in Armidale from April 15-17. There are also plans to take teams in other sports depending on sponsorship and availability. The cost of taking a squad to compete is between $2-$3,000 and while significant, the academy will provide funding relief to athletes to provide them with additional competitive opportunities and the experience of a lifetime. The event is a great

introduction to what is expected of elite senior athletes; travelling as a squad, cheering and supporting our team and the excellent play of others. Walking into the opening ceremony with around 1000 other athletes is an experience all academy athletes should experience. However logistics and funding unfortunately do not always allow for this to happen.

An academy ‘sports ambassador’ program in conjunction with the Greater Building Society will be offered to all athletes in 2011 and will offer a select group additional opportunities in media skills training. They may also be invited to attend a variety of corporate functions on behalf of the academy and the Greater Building Society.

It and systemsMaintaining and advancing the IT platform to state of the art levels is an ongoing challenge. The GCAS will embrace as much as is possible the current technologies in order to keep pace with the various changes in commonly used IT. The introduction of promotional pages in widely used social networking sites will be one such development considered in 2011. The costs incurred in upgrading the website rather than simply scheduled maintenance will require increasing the budget allocation for this to happen every year.

Marketing and PromotionConsiderable advertising was implemented in 2010 and will continue to further position the Gold Coast Academy of Sport in the local sports market place. An intensive media period with specialist support is planned for early 2011 when the majority of sports programs are launching for the new year. In 2011 there will be an even greater emphasis on the corporate tag of ‘golden opportunities

Carl Bellingham at the first tee at the academy games in Armidale


through sport’ which was introduced in 2010.

The ‘fresh’ look of the website devised in 2010 will be reviewed and the addition of regular articles will continue. It is no surprise that the website had its most consistent number of unique visits during the second half of 2010 when a concerted effort to regularly update articles and images took place.

NBN television and Southern Cross media (90.9 Sea FM and 92.5 Gold FM) provided a combined $130,000 worth of media exposure in the form of television commercials and radio promotions. Agreement extensions will ensure these traditional media channels will be continued to be utilised throughout 2011. The academy would also like to recognise Gold Coast Bulletin newspaper for the print exposure provided to the GCAS. The GCAS is working cooperatively with the Gold Coast Sporting Hall of Fame and the Bulletin to publish a colour lift-out in the Bulletin in February 2011 titled ‘Gold Coast Sport 2010’. This collector’s item booklet is likely to become an annual publication and will summarise the efforts of the Gold Coast’s most elite sporting achievers through to the role the Gold Coast Academy of Sport is offering the next

generation of sporting achievers. The GCAS would like to thank all companies who pledged in advance to advertise in this publication to make this project a reality.

The Gold Coast Academy of Sport will continue to assist the community events of other organisations that have the best intentions of the athletes in mind. The GCAS will for example continue to support the Cancer Council’s ‘Run for a Cure’ at the RACV Royal Pines Resort. The GCAS will also join all other sporting providers and clubs from the Gold Coast for the Department of Sport and Recreation’s “Find 30 Minutes Activity Day” in February.

While the support of the funding business partners and corporate sponsors is much appreciated, several sponsorship ‘gaps’ exist in the sponsorship matrix and the GCAS will be working extremely hard to fill these gaps in order to continue to provide robust sports programs. I am pleased to advise at the time of writing this document, a number of new sponsors have indicated that they will be joining the corporate base of the academy in 2011. All sponsorship and cost savings in general are directed to benefit the athletes within the sports programs.

Media opportunities and experience for academy athletes

GCAS golf squad on the driving range


BusIness PARtneRs

offICIAl venues

For any enquiries regarding this project, please call Gold Coast Water’s Customer Contact Centre on 1300 366 692 (quoting the project name written in the blue panel) or visit www.goldcoastwater.com.au/pimpamacoomera

Pimpama Coomera Master Plan Package D

Royal PinesResort

Royal PinesResort


offICIAl suPPlIeRs

PRogRAM PARtneRs

Official PhotographerPaul Christou

Royal PinesResort

Golf

Future Stars

Football (Soccer)

Triathlon

Rugby League


PRogRAM RePoRts2010



The Gold Coast Academy of Sport Golf squad commenced with the inaugural program orientation at the RACV Royal Pines Resort in November 2009 inducting a squad of 24 male and female athletes aged 13 – 18 from 9 different local golf clubs.

The program was fortunate to have the experienced academy coach Mark Gibson as the Director of Instruction and the use of the RACV Royal Pines Resort Driving Range as the ‘official venue’ for all on-course sessions. The introduction of skills testing, video/computer analysis and sport psychology for Golf provided the athletes with a ‘point of difference’ from their existing training schedules at their home clubs. Core education sessions on topics such as biomechanics of the golf swing, nutrition for golf and future career pathways supplemented the 20 practical sessions over the 40 weeks that each athlete was offered.

The sponsorship support of E-Z-GO Golf cars assisted in providing outstanding uniforms for all athletes in the squad and for those who represented the academy with distinction at the academy games in Armidale in April 2010.

Mark Gibson (current Chairman of the Australian PGA, three time Queensland PGA ‘coach of the year’ and only Golf coach in Australia to have twice received the Australian PGA ‘coach of the year award’) was ably assisted when required by qualified assistant coaches Richard Woodhouse and Ian Jones to provide the technical knowledge to help the athletes in all facets of their game. The handicaps of the athletes were regularly monitored and were reduced significantly over the duration of the program. The program has the unilateral support of the Gold Coast Men’s and Women’s Associations and Golf Queensland. Curriculum advice, skills testing protocols and game preparation advice is offered to the athletes in line with the recommendations of these governing bodies.

Off the course seminars provided a core educational component to the program and became a model for the other sports

programs as they became established.

The squad of 24 was divided into two squads of 12 athletes catering for ability and handicap differences. Advice was provided for improvement for the time in between the fortnightly sessions. The manager of the program was Shane Stevenson from the Robina High School Golf Development program.

golf

Mark Gibson outlines a session with the golf squad


The Gold Coast Academy Golf program is well supported by all coaching and educational staff, the official venue and sponsorship. It is a model for the integration of an academy program into the existing pathway for local athletes as they attempt to reach the next level of high performance.

Significant events• 2010 academy games

• Rounds of Golf on the RACV Royal Pines Resort course

Program Partners• E-Z-GO Golf cars

• Sporte Leisure

Official Venue• RACV Royal Pines Resort

Academy Golf Athlete of the YearAntony Lung (Robina Woods GC)

Encouragement AwardScott Jolly (Coolangatta/Tweed GC)

Academy Chairman’s AwardDee Dee Russell (Emerald Lakes GC)

Coaching StaffDirector of Instruction – Mark GibsonAssistant Coaches – Richard Woodhouse and Ian Jones Manager – Shane Stevenson

The 2009/10 SquadLiam Anderson, Carl Bellingham, Aaron Boulden, Ryan Boulden, Brody Brooke, Jaydn Brooke, Ryan Cumming, Jackson Dick, Connor Hewitt, Samantha Hill, Caleb Hood, Sebastian Howell, Jack Hulyer, Tom Hunt, Tyson Johnston-Moir, Scott Jolly, Trent Jones, Joel Lawson, Antony Lung, Riki McGilvray, Dee Dee Russell, Garrett Skinner, Jack Sullivan, Jacob Tonkin

2010 GCAS Golf Squad

Samantha Hill, Allira Rogers (Sport Psychologist) and 2010 GCAS Chairman’s Award recipient

Dee Dee Russell.

Royal PinesResort


The Future Stars program is provided to athletes aged 13-23 who do not meet the eligibility requirements of GCAS programs or for those who participate in sports that are not offered by the GCAS.

The Future Stars program is individually focussed and is based on high level of personal interaction with the athletes. Individual gymnasium and personal training support and together with regular core education seminar support as a squad was all offered as part of the program.

To be accepted into the squad, athletes must have represented their chosen sport at a high level or aspire to such levels with the assistance of the GCAS through this program.

In 2010, the program was located at the Sports Super Centre, Runaway Bay where the athletes had access to a wide variety of entitlements to assist them further in the development in their chosen sport.

The GCAS athletes were provided with individual access to gym memberships with unlimited visits, physiotherapy and sport psychology support. They were advised

about time management and how to utilise these services on their own. Full squad core education seminars once a month for the duration of the program, provided interaction for the whole squad on topics such as nutrition, stretching and warm-up, sport psychology and media skills training.

The Future Stars Program is a model for the integration of an academy program into the existing pathway for local athletes as they attempt to reach the next level of high performance.

futuRe stARs

2010 GCAS future stars squad


Program Partners• Sports Super Centre, Runaway Bay

• Australian Sports Academy

Academy SquadCaitlin Becerevic (Basketball), Britney Barry (Football/Soccer), Victoria Estreich (Basketball), Ashleigh Heal (Basketball), Jackson Hill (Football/Soccer), Nathan Howard (Rugby League), Emily McCann (Basketball), Dylan Scrocca (Rugby League), Katelyn Simpson (Athletics), Omeed Tasmim (Football/Soccer), Leshay Wells (Athletics).

Academy Female Athlete of the YearKatelyn Simpson (Athletics)

Program Athlete of the YearEmily McCann (Basketball)

Encouragement Award Nathan Howard (Rugby League)

GCAS future stars program athlete of the year Emily McCann


The 2010 Football program began by offering ‘value-added’ sessions to the existing athlete pathway for athletes aged under 16-under 19 in pre-season during January. A total of 34 athletes were ultimately inducted into the in-season program.

Venues right across the coast were used to spread the program throughout the Gold Coast Football community and improve the ease of access at session. Following the conclusion of the season proper and given the high level of interest and support from the coaches and athletes, the program continued throughout the off-season until December. A further 30 male and female athletes from an increasing number of local clubs participated in the technical and skill-based additional opportunities. Over 150 hours of quality practical training and sport science testing in

total was provided, enhancing the skill level and fitness levels of all who participated. In addition, a series of Life Skills sessions on topics such as travel issues and media skills in Football were organised at Griffith University.

Twice weekly sessions were organised on Mondays and Wednesday nights to complement club based training on Tuesday and Thursday nights and weekend club matches.

The coaching staff included the Director of Instruction Gary Scott who brought nearly 30 years of playing and coaching experience to

the program. Ably supporting Gary were assistant coaches Clint Savage, Alain Charles, Andy Haynes, Mark Munro and Murray Kitching.

The program also organised special guest training sessions with the Matilda’s (Australian Women’s national team prior to their participation in the Asian Cup) and a school holiday day clinic with academy coaches from the Chelsea FC in the UK Premier League.

Towards the end of the season, academy athletes were involved in trial games

footBAll (soCCeR)

Updated uniform presentation for the extended squad

First program orientation squad


versus the Gold Coast United Youth team and the Queensland Academy of Sport (QAS). Opportunities like these provide further exposure to higher levels of participation and the program will continue to cooperatively foster these in the future to support existing participation in local representative or club level competition.

Program Partners• Coates Hire

• Central Coast Academy of Sport

Venues• Carrara Sports Complex

• Sports Super centre, Runaway Bay

• Coplicks Sports Complex, Tallebudgera

• Tallebudgera Be Active Indoor Centre

• Broadbeach FC

• Sid Bigg Oval, Mudgeeraba FC

• Emerald Lakes Fields, Carrara

Coaching StaffDirector of Instruction – Gary Scott

Assistant Coaches – Clint Savage, Alain Charles, Andy Haynes, Mark Munro

Manager – Brad Hill

2010 SquadNicholas Allen, Blake Angus, Blake Bonner, Ike Campbell, Emmanuel Cardoso, Simon Christou, Alistair Davis, Martin Devine, Corey Ellison, Joel Erskine, Matthew Fedden, Jonah Gele, Tion Gerasimou, Charlie Gray, Daniel Grizic, Lachlan Hayman, Jackson Hill, Josh Lane, Jordan Lockhart, Jordan Longhitano, Jack Mason, Dion Meacham, Vincenzo Munro, Josef Murray, Peter-Ben Robson, Rhys Saunders, Brad Savage, Houston Small, Louis Spagnuolo, Hayden Sumner, Omeed Tasmim, Philip Temelkoski, Blake Thompson and Jarryd Woods

Academy Male Athlete of the YearJackson Hill

Program Athlete of the YearAlistair Davis

Encouragement AwardEmmanuel Cardoso

GCAS Football program encouragement award recipient Emmanuel Cardoso

GCAS male athlete of the year Jackson Hill in action.

GCAS Football program encouragement award recipient Emmanuel Cardoso


The Triathlon program has outstanding unilateral support from Triathlon Queensland, Triathlon Australia and the National High Performance Program. The inclusion of an academy program into the existing pathway for Triathlon is contributing in identifying the Gold Coast as a ‘hot spot’ in the development of this growing sport in Australia.

The Triathlon program began with a program orientation in May at the end of the 2009/10 summer season. 16 athletes aged 13-18 indicated their interest in the initial squad. The program is a combination of technical and skills–based school holiday overnight camps (including core education sessions) and additional training days complementing ie adding to the athletes existing training and competitive schedule. The addition of an academy program on the Gold Coast is designed to offer local athletes with an even greater knowledge base in the sport providing an improved competitive advantage for existing competitions and higher levels in the sport.

The Director of Instruction is sport scientist Chris Lang, a former academy athlete himself and current coach of some of the most elite athletes in sport of Triathlon. Assistant coach is Jenny Alcorn, head coach of the Surfers

Paradise club with extensive experience coaching from beginning athletes to the elite level.

The first camp for the pioneering group of athletes aged 15-18 was held during the September school holidays at the Sports Super Centre and included a comprehensive variety of swimming, cycling and running technique training together with core educational seminars in topics such as sport psychology and further opportunities in Triathlon. A training day in November allowed all athletes in the squad to participate and included swimming training at Lake Hugh Muntz, Robina, and supervised road cycling out to the cycling velodrome at Nerang. The next training camp in January 2011 has sparked interest from an even greater number of athletes as this initial program continues to develop.

tRIAtHlon

Jenny Alcorn (left) and Chris Lang (right) with the inaugural camp training squad of athletes in Triathlon.


Program Partners• Triathlon Queensland

• Triathlon Australia

• National High Performance Program

Venues• Sports Super centre, Runaway Bay

• Lake Hugh Muntz, Robina

• Nerang Cycling Velodrome

Coaching StaffDirector of Instruction – Chris Lang

Assistant Coaches – Jenny Alcorn

The 2010/11 SquadDaniel Coleman, Jesse Dixon, Connor Dougherty, Benjamin Eastwell, Jenna Fulton, Breony Heaton, Jordan McLennan, Dakota Lily-Morris, Bradley Soden, Sophie Walker, Kye Wylde

Program Athlete of the YearConnor Dougherty

Encouragement AwardSophie Walker

GCAS Triathlon squad prepares for a road cycling training session




fInAnCIAl RePoRts

2010


Financial Reports Page

Director’s Report 33

Auditor’s Independence Declaration 39

Independent Audit Report 40

Directors’ Declaration 42

Detailed Income Statement 43

Income Statement - by Nature 45

Balance Sheet 46

Statement of Cash Flows 47

Notes to the Financial Statements 48

Pool Depreciation Report 56

Contents

Page 33

Gold Coast Academy of Sport Limited - ABN: 63 120 724 414

Financial Report

Gold Coast Academy Of Sport Limited ABN 63 120 724 414

Directors’ Report For the year ended 31 December 2010

The accompanying notes form part of these financial statements.

Your directors present this report on the company for the financial year ended 31 December, 2010. Directors The names of each person who has been a director during the year and to the date of this report are: Michael Veivers Gavin Jon Kirkman Ian Robilliard Mark Kevin Holton Robert Hagley Michael Jones Prof. Michael Davidson Glynis Nunn-Cearns Directors have been in office since the start of the financial year to the date of this report unless less otherwise stated. Short and Long Term Objectives The short and long-term plans of the Gold Coast Academy of Sport have been documented in a business plan by the GCAS Board of Directors up until 2014. Portfolio responsibilities of Finance and Governance, Operations (Administration), Marketing and Promotion, Sport Athletes and Coaches, Operations (Major and Special Events) and Operations (Sport Science) have all been considered and sequentially documented using a timeline. Strategy for Achieving Objectives Within each portfolio key performance area/responsibility in the business plan is a list of proposed actions and who is responsible as a strategy for achieving those objectives. Principal Activities The principal activities of the company during the financial year were the promotion of interest, participation and opportunities for athletes in the Gold Coast region. The Gold Coast Academy of Sport will deliver high performance training programs across a variety of sports. There has been no significant change in these activities during the year. How did Principal Activities Assist in Achieving Objectives The mission of the Gold Coast Academy of Sport is to facilitate high performance training programs for athletes from the Gold Coast region. The facilitation by the GCAS of 4 high performance programs for around 100 athletes in 2010 provided the GCAS with a means by which to aim to achieve its objectives as outlined in the various portfolio responsibilities.





Performance Measurement As a means of a process of review of the stages of the GCAS business plan, the GCAS Executive Officer develops an operational plan annually (later reviewed by the GCAS board of directors) that summaries the level of achievement against the specific KPI’s. This together with an annual KPI review of GCAS staff by the Managing Director, outlines how the GCAS is performing against these KPI’s. Strategies for improvement are recommended and monitored regularly thereafter. Operating Result The profit of the company for the financial year was $23,737. Dividends Paid or Recommended The constitution of Gold Coast Academy of Sport Limited specifically prohibits the payment of dividends to members, as a result no dividends were paid or declared in the 2010 financial year. Review of Operations A review of the operations of the company during the financial year and the results of those operations found that the company continued to engage in its principal operations during the year. Significant Changes in the State of Affairs No significant changes in the entity’s state of affairs occurred during the financial year. After Balance Date Events There are no matters of circumstances that have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company. Future Developments Likely developments in the operations of the company and the expected results of those operations in future financial years have not been included in this report, as the inclusion of such information is likely to result in unreasonable prejudice to the company. Environmental Issues The company’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory.

Page 35


Financial Report




Information on Directors Michael Veivers Director Qualifications Experience Gold Coast Sporting Hall of Fame Member Current Patron – Southport Sharks AFL Current Patron – Gold Coast JRL Former Queensland Minister of Sport Former International Rugby League representative Former State Rugby League representative (QLD and NSW) Former Sports Commentator Former National Party Member for the Queensland seat of Southport Special Responsibilities Chairman Gavin Jon Kirkman Director Qualifications Experience Current Senior Manager – RACV Royal Pines Resort Former Executive Director – Queensland Division PGA Australia Former Organisational involvement in Australian Ladies Masters, Holden

Scramble National Final and Australian Club Pro Championship Special Responsibilities Deputy Chair Ian Robilliard Director Qualifications Bachelor of Education Experience Founder and Current Managing Director – Central Coast Academy of Sport

Ltd Former Chief Operations Officer – Professional Golfers Association - 1998

to 2003 Former National Education Director – Professional Golfers Association -

1993 to 1998 Former Australian and National Basketball representative Former State Rugby Union representative Special Responsibilities Managing Director and Chair of Operations Mark Kevin Holton Director Qualifications Bachelor of Education Graduate Diploma in Accounting and Management Diploma of Education – Technical Education Public Accountant Experience Managing Director – Dynamic Taxation and Training Current Chairman – Central Coast Academy of Sport Ltd Current Board Member – Ronald McDonald House Westmead Current Treasurer – Ronald McDonald House Westmead Special Responsibilities Chair of Audit and Finance Committee Robert Hagley Director Qualifications Experience Director – Hagley & Associates Former Sales and Marketing Director – Conrad Jupiters Hotel and Casino

– 1988 to 2000 Three times World Sailing Champion Special Responsibilities Commercial Partnerships





Michael Jones Director Qualifications Experience Currently running Hotel Management Company – Tourism Operational

Management General Manager – Gold Coast International Hotel President – Gold Coast SKAL Club Inducted into QHA Hall Of Fame for commitment to Tourism in Queensland

- 1999 Former Deputy Chairman – Gold Coast Tourism Bureau Former General Manager – Bond Corporation’s Observation City Resort

Hotel Former Food and Beverage Manager – Parmelia Hilton Perth Special Responsibilities Events Director Prof. Michael Davidson Director Qualifications Licentiateship of the City & Guilds – London, (1986). Certificate of Education - (C.N.A.A.) Portsmouth University (1986), U.K. Teacher Certificate - Further Education, Double Distinction. Dorset Institute

of Higher Education (1984), U.K. Membership Examination (Part A) Hotel, Catering and Institutional

Management Association – 1976 U.K. Diploma in Hotel & Catering Management – Bournemouth College 1964. G.C.E. 'O' Levels and R.S.A. Certificates - l961, U.K.

PhD Griffith University, Australia.

Organisational climate and its influence upon performance: A study of Australian hotels in South East Queensland.

2001

Master of Administration (Education)

University of New England

Reading Policy, Planning, Organisation & Strategic Management Theory

1991

Bachelor of Arts

Open University (1986) UK

Reading, Sociology & Education

1986

Experience Director – Centre for Tourism, Sport and Service Innovation Research –

Griffith University Australia Widely published in academic journals Hospitality and Tourism consultancies completed in Asia, Australia, UK

and USA Special Responsibilities IT and Systems Glynis Nunn-Cearns Director Qualifications Bachelor of Education Experience Executive Director – Australian Track and Field Coaches Association National Coordinator – Junior Development Program for Young Track and

Field Athletes Gold Medlaist – Heptathlon – Commonwealth Games - 1982 Gold Medlaist – Heptathlon – Olympic Games - 1984 Bronze Medlaist – Heptathlon – Commonwealth Games – 1986 Coached athletes to World Youth, Junior, Commonwealth, World

Championships and Olympic Games Special Responsibilities Chair of Athlete Services

Page 37


Financial Report




Meetings of Directors During the financial year, 8 meetings of directors (including committees of directors) were held. Attendances by each director were as follows: Attended Eligible to Attend Michael Veivers 8 8 Gavin Jon Kirkman 7 8 Ian Robilliard 7 8 Mark Kevin Holton 1 8 Robert Hagley 6 8 Michael Jones 6 8 Prof. Michael Davidson 6 8 Glynis Nunn-Cearns 8 8 Indemnifying Officer or Auditor No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is or has been an officer or auditor of the company. Proceedings on Behalf of the Company No person has applied for leave of Court to bring proceedings on behalf of the company or intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or any part of those proceedings. The company was not a party to any such proceedings during the year. Directors’ Benefits During the year ended 31 December 2010, Gold Coast Academy of Sport Limited entered into a contract with Central Coast Academy of Sport for whom Ian Robilliard is a director, to provide operational assistance. Payments in relation to this contract amounted to $12,833. During the year ended 31 December 2010, Gold Coast Academy of Sport Limited entered into a contract with Skilled Sports Pty Limited for whom Ian Robilliard is a director, to provide operational assistance. Payments in relation to this contract amounted to $16,400. During the year ended 31 December 2010, Gold Coast Academy of Sport Limited entered into a contract with Dynamic Taxation & Training Services for whom Mark Holton is a director, to provide accounting and taxation assistance. Payments in relation to this contract amounted to $8,550. This statement excluded a benefit included in the aggregate amount of emoluments received or due and receivable by directors shown in the company’s accounts, of the fixed salary of a full-time employee of the company or related body corporate.





Auditor’s Independence Declaration The lead auditor’s independence declaration for the year ended 31 December 2010 has been received and can be found on page 6. Signed in accordance with a resolution of directors:

Page 39


Financial Report

GOLD COAST ACADEMY OF SPORT LIMITED ABN 63 120 724 414

AUDITOR’S INDEPENDENCE DECLARATION TO THE DIRECTORS

I declare that, to the best of my knowledge and belief, during the year ended 31 December 2010 there have been i no contraventions of the auditor independence requirements as set out in

the Corporations Act 2001 in relation to the audit; and ii no contraventions of any applicable code of professional conduct in

relation to the audit.

Peter G McIntyre Registered Company Auditor Registration No. 15440 Unit 2, 3a Racecourse Road GOSFORD NSW 2250 30 March 2011


INDEPENDENT AUDIT REPORT TO THE MEMBERS OF GOLD COAST ACADEMY OF SPORT LIMITED

Report on the Financial Report We have audited the accompanying financial statements of Gold Coast Academy of Sport Limited (the company), which comprises the balance sheet as at 31 December 2010 and the income statement, statement of recognised income and expenditure and cash flow statement for the year ended on that date, a summary of significant accounting policies and other explanatory notes and the directors’ declaration. Directors’ Responsibility for the Financial Report The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. 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. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance 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 judgment, 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 entity’s preparation and fair presentation of the financial report 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 entity’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.

Page 41


Financial Report

Independence In 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, provided to the directors of Gold Coast Academy of Sport Limited on 30 March 2011, would be in the same terms if provided to the directors as at the date of this auditor’s report. Auditor’s Opinion In our opinion, the financial report of Gold Coast Academy of Sport Limited is in accordance with The Corporations Act 2001 including

(a) giving a true and fair view of the company’s financial position as at 31 December 2010 and of their performance for the year ended on that date; and

(b) complying with Australian Accounting Standards (including he Australian

Accounting Interpretations) and the Corporations Regulations 2001.

Peter G McIntyre Registered Company Auditor Registration No. 15440 Unit 2, 3a Racecourse Road GOSFORD NSW 2250 30 March, 2011


Gold Coast Academy of Sport Ltd ABN 63 120 724 414

Directors' Declaration

The directors of the company declare that:

1. the financial statements and notes are in accordance with the Corporations Act 2001 and:

(a) comply with Accounting Standards and the Corporations Regulations; and

(b) give a true and fair view of the company's financial position as at 31 December 2010 and of its performance for the year ended on that date;

2. in the directors' opinion, there are reasonable grounds to believe that the company 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.


Directors' Declaration

The directors of the company declare that:

1. the financial statements and notes are in accordance with the Corporations Act 2001 and:

(a) comply with Accounting Standards and the Corporations Regulations; and

(b) give a true and fair view of the company's financial position as at 31 December 2010 and of its performance for the year ended on that date;

2. in the directors' opinion, there are reasonable grounds to believe that the company 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.

Page 43


Financial Report

Gold Coast Academy of Sport LtdABN 63 120 724 414

Detailed Income StatementFor the year ended 31 December 2010

2010 2009$ $

IncomeInterest received 4,209 505Professional feesLocal Government / Council funding 62,500 125,000Sponsorship income 210,007 3,182Athletes registration fees 19,938 6,109Other Income 7,989 75Total income 304,643 134,871

ExpensesAccountancy 8,550 1,350Advertising and promotion 137,630 5,678Assets <$1,000 800 1,337Audit fees 2,970 1,950Bad debts 632Bank fees and charges 81 59Computer Expenses 1,150 731Conference/seminar costs 2,821 580Consultancy fees 27,400 17,638Depreciation 800 471Filing fees 80Fines 875Insurance - General 2,713 249Insurance - Workers Compensation 424Interest - AustraliaInterest Paid - Premium Funding 308Medical expenses 3,335Membership fees 70Motor Vehicle ExpenseMotor Vehicle - Registration 262Motor Vehicle - Fuel & Oil 2,182 727Motor Vehicle - Parking 206Printing, Postage & stationery 6,318 485Sponsorships awarded 1,398




Detailed Income StatementFor the year ended 31 December 2010

2010 2009$ $

Subscriptions 50 300Superannuation 5,471 1,961Telephone 1,087 1,005Travel, accom & conference 4,267 6,097Uniforms 9,457 4,511Wages 60,785 21,791Total expenses 280,906 68,140

Profit from Ordinary Activities before income tax 23,737 66,731


Page 45


Financial Report


Income Statement - by NatureFor the year ended 31 December 2010

Note 2010 2009$ $

Classification of Expenses by Nature

Revenues from ordinary activities 2 304,643 134,871

Borrowing costs expense (308)Depreciation and amortisation expenses 3 (800) (471)Other expenses from ordinary activities (279,798) (67,669)Profit from ordinary activities before income tax 23,737 66,731

Income tax revenue relating to ordinary activitiesNet profit attributable to members of the company 23,737 66,731




Balance Sheet As At 31 December 2010

Note 2010 2009$ $

Current Assets Cash assets 4 124,793 29,264 Receivables 5 9,396 118,750 Other 6 2,985 2,736 Total Current Assets 137,174 150,750

Non-Current Assets Property, plant and equipment 7 1,867 2,667 Other 6 2,075 2,075 Total Non-Current Assets 3,942 4,742

Total Assets 141,116 155,492

Current Liabilities Payables 8 5,210 7,515 Financial liabilities 9 871 14,179 Other 10 37,500 60,000 Total Current Liabilities 43,581 81,694

Total Liabilities 43,581 81,694

Net Assets 97,535 73,798

Equity Retained profits 97,535 73,798 Total Equity 97,535 73,798


Page 47


Financial Report

2010 2009$ $

Cash Flow From Operating ActivitiesReceipts 409,787 81,866 Interest received 4,209 505 Payments (318,468) (70,405)Interest and other costs of finance - - Net cash provided by (used in) operating activities 95,529 11,966

Cash Flow From Investment Activities Payments for property plant & equipment - (3,138)Receipts from sale of property plant & equipment - - Payment for intangible assets - - Net cash provided by (used in) investment activities - (3,138)

Cash Flow From Financing Activities Proceeds of borrowings - 13,368 Repayment of finance lease commitements - - Increase in finance lease commitements - - Net cash provided by (used in) financing activities - 13,368

Net increase (decrease) in cash held as a result ofOperating, Investment & Finance activitiesDetailed above 95,529 22,196

Cash at the beginning of the year 29,264 7,068 Cash at the end of the year 124,793 29,264

Reconciliation Of CashFor the purposes of the statement of cash flows, cash includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts.Cash at the end of the year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:Cash at Bank 124,793 29,264 Cash on Hand - -

124,793 29,264

Reconciliation Of Net Cash Provided By/Used In Operating Activities To Net ProfitOperating profit (loss) after tax 23,737 66,731 Depreciation 800 471 Amortisation - - Increase (decrease) in provision for income tax - - (Profit)/ Loss on sale of property, plant and equipment - - Changes in assets and liabilities net of effects of purchases and disposals of controlled entities: - - (Increase) decrease in receivables 109,105 (121,486)(Increase) decrease in intangibles - (1,205)Increase (decrease) in payables (38,113) 67,455 Increase (decrease) in sundry provisions - - Net cash provided by operating activities 95,529 11,966

Gold Coast Academy of Sport Limited ABN 63 120 724 414Statement of Cash Flows

For the year ended 31 December 2010

2010 2009$ $

Cash Flow From Operating ActivitiesReceipts 409,787 81,866 Interest received 4,209 505 Payments (318,468) (70,405)Interest and other costs of finance - - Net cash provided by (used in) operating activities 95,529 11,966

Cash Flow From Investment Activities Payments for property plant & equipment - (3,138)Receipts from sale of property plant & equipment - - Payment for intangible assets - - Net cash provided by (used in) investment activities - (3,138)

Cash Flow From Financing Activities Proceeds of borrowings - 13,368 Repayment of finance lease commitements - - Increase in finance lease commitements - - Net cash provided by (used in) financing activities - 13,368

Net increase (decrease) in cash held as a result ofOperating, Investment & Finance activitiesDetailed above 95,529 22,196

Cash at the beginning of the year 29,264 7,068 Cash at the end of the year 124,793 29,264

Reconciliation Of CashFor the purposes of the statement of cash flows, cash includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts.Cash at the end of the year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:Cash at Bank 124,793 29,264 Cash on Hand - -

124,793 29,264

Reconciliation Of Net Cash Provided By/Used In Operating Activities To Net ProfitOperating profit (loss) after tax 23,737 66,731 Depreciation 800 471 Amortisation - - Increase (decrease) in provision for income tax - - (Profit)/ Loss on sale of property, plant and equipment - - Changes in assets and liabilities net of effects of purchases and disposals of controlled entities: - - (Increase) decrease in receivables 109,105 (121,486)(Increase) decrease in intangibles - (1,205)Increase (decrease) in payables (38,113) 67,455 Increase (decrease) in sundry provisions - - Net cash provided by operating activities 95,529 11,966

Gold Coast Academy of Sport Limited ABN 63 120 724 414Statement of Cash Flows

For the year ended 31 December 2010



Notes to the Financial Statements For the year ended 31 December 2010


Note 1: Statement of Significant Accounting Policies

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

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

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

(A) Basis of Preparation

Adoption of Australian Equivalents to International Financial Reporting Standards (IFRSs)

As part of the company’s transition to International Financial Reporting Standards it was a requirement that the Financial Statements disclose any likely financial impact to the balance sheet based on changes to asset/liability valuations as at 31 December 2010. It was determined that there was no financial impact, given that the company currently values all of its assets and liabilities in accordance with the new IFRS standards. Similarly there was no financial impact to the statement of income for the financial year ended 31 December 2010.

The International Financial Reporting Standards are applicable to Gold Coast Academy of Sport Ltd given that their financial reports are general purpose financial reports prepared after the commencement date of this new standard, 1 January 2005.

The Financial Statements for 2010 have been prepared in accordance with the International Financial Reporting Standards.

Reporting Basis and Conventions

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

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Financial Report




(B) Accounting Policies

Income tax

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

Property, Plant and Equipment

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

a) Property

Freehold land and buildings are shown at their fair value (being the amount for which an asset could be exchanged between knowledgeable willing parties in an arms length transaction), based on periodic, but at least triennial, valuations by external independent valuers, less subsequent depreciation for buildings.

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.

b) Plant and equipment

Plant and equipment is measured on the cost basis less depreciation and impairment losses.

The carrying amount of plant and equipment is reviewed annually to ensure it is not in excess of the recoverable amount from those 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 not been discounted to present values in determining the recoverable amounts.

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

Subsequent costs are included in the asset's carrying amount recognised as a separate asset, as appropriate, only when it is probable that the future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred.

Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation reserve in shareholders' equity. Decreases that offset previous increases of the same asset are charged against fair value reserves directly in equity; all other decreases are charged to the income statement. Each year the difference between depreciation based on the revalued carrying amount of the asset charged to the income statement and depreciation based on the assets original cost is transferred from the revaluation reserve to retained earnings.





c) Depreciation

The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding freehold land, is depreciated on a straight line basis over their useful lives to Gold Coast Academy of Sport Ltd 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 asset are:

Class of Asset Depreciation Rate %

General Pool 30% [15% first year of ownership]

The assets residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.

An assets carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposal are determined by comparing proceeds with the carrying amount. These gains or losses are included in the income statement. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.

Impairment of Assets

At each reporting date, the directors review 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 assets fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the assets carrying value over its recoverable amount is expensed to the income statement.

Impairment testing is performed annually for goodwill and intangible assets with indefinite lives.

Where it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and Cash Equivalents

Cash and Cash Equivalents includes cash on hand, deposits held at call with banks or financial institutions, other short term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short term borrowings in current liabilities on the balance sheet.

Page 51


Financial Report




Revenue

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

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

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

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

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

Goods and Service Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is 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 the expense. Receivables and payables in the balance sheet are shown inclusive of GST.

Cash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.




2010 2009


Note 2: Revenue

Operating Activities: Interest Revenue: Cash at Bank 4,209 505 Other Operating Revenue: Local Government / Council funding 62,500 125,000 Sponsorship 210,007 3,182 Athlete registration fees 19,938 6,109 Other Income 7,989 75 304,643 134,871 Note 3: Profit from Ordinary Activities Profit (loss) from ordinary activities before income tax has been determined after: Depreciation of non-current assets Plant and equipment 800 471 800 471 Note 4: Cash Assets Bank accounts: Cash at bank 124,793 29,264 124,793 29,264 Reconciliation of Cash: Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the statement of financial position as follows: Cash 124,793 29,264 124,793 29,264 Note 5: Receivables Current Trade debtors 9,396 118,750 9,396 118,750

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Financial Report



2010 2009


Note 6: Other Assets Current Prepayments 2,985 2,736 2,985 2,736 Non Current Preliminary expenses 2,075 2,075 Less: accumulated amortisation - - 2,075 2,075 Note 7: Property, Plant and Equipment Other property, plant and equipment: General Pool 1,867 2,667 1,867 2,667 Note 8: Payables Unsecured: Trade creditors 3,265 660 Other creditors 1,945 6,855 5,210 7,515 Note 9: Borrowings Current Unsecured: Other loans 871 11,271

871 11,271

Secured: Hire purchase liabilities - 3,216 Less: Unexpired charges - (308) - 2,908 871 14,179




2010 2009


Note 10: Other Liabilities Current Advance payments 37,500 60,000 37,500 60,000 Note 11: Auditors’ Remuneration Remuneration of the auditor of the company for: Auditing or reviewing the financial report 2,970 1,950 Other Services - - 2,970 1,950 Note 12: Related Parties Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated. Transactions with related parties: Director-Related Entities Transactions with director-related entities:

During the year ended 31 December 2010, Gold Coast Academy of Sport Limited entered into a contract with Central Coast Academy of Sport for whom Ian Robilliard is a director, to provide operational assistance 12,833 8,750 During the year ended 31 December 2010, Gold Coast Academy of Sport Limited entered into a contract with Skilled Sports Pty Limited for whom Ian Robilliard is a director, to provide operational assistance 16,400 8,750 During the year ended 31 December 2010, Gold Coast Academy of Sport Limited entered into a contract with Dynamic Taxation & Training Services for whom Mark Holton is a director, to provide accounting and taxation assistance 8,550 1,350

Page 55


Financial Report




Identification of Related Parties Central Coast Academy of Sport Skilled Sports Pty Limited Dynamic Taxation & Training Services


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THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK


THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

ABN: 63 120 724 414

Postal Address: PO Box 433, Ashmore City QLD 4214

Email: [email protected] Website: www.goldsport.com.au


Postal Address: PO Box 433, Ashmore City QLD 4214

Email: [email protected] Website: www.goldsport.com.au

ABN: 63 120 724 414

Documents

2010 GCAS Annual Report