ANNUAL REPORT

ANNUAL REPORT

RUSSIAN CLUB LIMITED
ABN: 13 000 911 419
D I R E C T O R S’ R E P O R T
FOR THE YEAR ENDED 30 JUNE 2016


Meetings of Directors
  • During the financial year, fourteen (14) meetings of directors were held and the attendances by each director are as follows:

Mrs N Sheina

                           14

                                     14

Mr A Peniazev

14

9

Mr A Ivacheff

5

3

Mrs L Angus

9

9

Mr N Chubukoff

9

2

Mrs M Howe

14

13

Mr S Jiriaev

9

9

Mrs L Ivacheff

14

14

Mrs N Lyakhova

14

13

Mrs N Lyness

5

4

Mrs I Maier

5

4

Mrs I Mushulov

14

13

Mrs N Olsen

5

5

Mrs A Perm

9

5

Mrs L Priinachek

9

7

Mrs M Roeske

14

11

Mr A Troitsin

5

1

  1. Principal Activities
    The principal activity of the Club during the year was the conducting of a licensed club. There have been no significant changes in the nature of these activities during the year.
  2. Operating Result
    The operating result was a loss of $(53,704.60) (2015 loss of $7,362.91). The Company is liable for income tax attributable to non- member income.

    • Net Assets Decreased to $3,489,227.46
    • The Club has $150,407.58 of cash and short tenn deposits.
  3. Objectives
    The Club’s objective is to deliver a profitable business to the membership that promote and enhance the reputation of Russian culture to Russians, as well as the Australian community for the mutual benefit of all members and the local community in Sydney.
  4. Strategy for achieving the Objectives
    In order to ensure the objectives are being met, the Club will:

    • Strive to increase usage of the Club facility by encouraging visitors and Russian community groups.
    • Where possible to Russian or Russian influenced themes.
    • Foster and nurture Russian cultural awareness groups for children & adults.
    • Ensure a mix of catering, beverage, gaining and entertainment facilities that support the demographic of the Club’s membership base and local community.
    • Maintain and continue to enhance the facility and business approach to ensure an effective utilisation of current and future resources.
  5. Review of Operations
    The Directors are reviewing strategies to improve the overall patronage of the Club and are budgeting for a small surplus in 2017 year.
  6. After Balance Date Events
    No significant activities have occurred since 30 June 2016 that has had an adverse effect.
  7. Directors’ Benefits
    Since the end of the previous financial year, no Director of the Company had received or became entitled to receive a benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by Directors shown in the Accounts of the fixed salary of a full-time employee of the Company or a related corporation) by reason of a contract made by the Company or a related corporation with the Director or with a firm of which he is a member, or with a Company in which he has a substantial financial interest.
  8. Directors’ and Officers’ Indemnity Insurance
    During or since the financial year, the Company has paid premiums to insure each of the Directors against liability for costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in the capacity of director of the Company other than conduct involving a wilful breach of duty in relation to the Company.
  9. Gifts
    No gifls were received from contractors or affiliated bodies.Signed in accordance with a Resolution of the Board of Directors.

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