The American Club 2016/2017 Annual Report

THE AMERICAN CLUB

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Year ended 30 June 2017

2017

2016

Operating Capital

Operating Capital

Note

fund fund

Total

fund fund Total

$

$

$

$

$

$

Income Food and beverage

8,217,329

- - -

8,217,329 10,334,456 258,189 1,796,453 3,175,807 4,039,897

- 10,334,456 - 1,796,453 - 4,039,897 - 5,552,163 - 8,222,160

Jackpot room*

258,189

Member activities

3,175,807 4,703,427

Club services

- 4,703,427 5,552,163

Membership dues

14 7,827,887

-

7,827,887 8,222,160

Entrance fees

- 3,225,487 3,225,487

- 4,230,002 4,230,002 - 18,773,306 18,773,306

Net investment gain

15

-

4,327,746 4,327,746

Allocation from capital fund 1,600,000 (1,600,000)

- 1,600,000 (1,600,000)

-

Other income

16 1,971,823

- 1,971,823 2,518,393

- 2,518,393

Total income

27,754,462 5,953,233 33,707,695 34,063,522 21,403,308 55,466,830

Expenditure

17

Food and beverage

11,792,690 253,650 4,848,649 4,374,440

869,925 12,662,615 12,924,259 650,400 13,574,659

Jackpot room

69,731

323,381

1,795,984

34,753 1,830,737

Member activities

1,241,610 6,090,259 4,623,052 1,050,210 5,673,262

Club services

126,667

4,501,107 5,099,658

115,568 5,215,226

Facilities, front office and administration

10,527,097

1,160,432 11,687,529

11,020,717

869,354 11,890,071 53,759 1,065,849

Membership and marketing 1,006,997 24,974 1,031,971 1,012,090

Total expenditure

32,803,523 3,493,339 36,296,862 36,475,760 2,774,044 39,249,804

(Loss) Profit before tax

(5,049,061) 2,459,894 (2,589,167) (2,412,238) 18,629,264 16,217,026

Income tax expense

18 (162,930)

- (162,930) (159,042)

- (159,042)

(Loss) Profit net of tax

(5,211,991) 2,459,894 (2,752,097) (2,571,280) 18,629,264 16,057,984

*The Jackpot Room’s last day of operation was on 31 August 2016.

See accompanying notes to financial statements.

28 2016/17 ANNUAL REPORT