Inaugural FSG Ltd partner

FSG - A company limited by guarantee

A N N U A LR E P O R T2 0 1 3

Future State Greats - A company limited by guarantee

Chairman’s Report

Our Stories Cuba Roth Jessica Street Mesele Gebre Kyle Potgieter Directors & Members

Future State Greats Summary statements Purpose statement Values Strategic Priorities Key Performance Indicator Overview

Members’ Guarantee Auditor’s Independence Rounding

Directors’ Declaration

Certificate of Registration of a Company

Independent Audit ReportDeclaration of Auditor’s Independence

Statement of Financial PositionIncome & Expenditure Statement

Directors’ Summaries & Honorary AssociationsBusiness of the AGM

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CONTENTS

Future State Greats - A company limited by guarantee Australian Company Number 154 014 150The company is a public company.The day of commencement of registration is the thirty-first day of October 2011.

Directors

Company Secretary

Registered Office and Principal place

of business

Honorary Auditor

Honorary Accountant

Honorary Solicitor

Ian Healy (Chair)Kevin BraschLiz PidgeonHolly Whitcroft

Grant O’Hara

Observer Phil Muller

C of 30 Ronnex Place, Aspley

Banker QT MUTUAL BANK ABN 83 087 651 054 AFSL 241195, 454 St Paul’s Terrace, Fortitude Valley, Qld, 4006 or PO Box 929 St Paul’s Terrace, Fortitude Valley, Qld, 4006 (QTMB).

Geoffrey StephensWilliams Hall ChadwickAuditorMail: GPO Box 389, Brisbane Qld 4000Address: Level 19, 144 Edward Street, Brisbane Qld 4000

Scott Whyte Partner 12 Bage Street, Nundah Qld 4012Ph: 07 3260 7433Fax:07 32607789E: scott@whytescpa.com

John MullinsLevel 21Riverside Centre123 Eagle StreetBrisbane Qld 4000Ph: 07 3224 0222Fax: 07 3224 0333 E. - jmullins@mullinslaw.com.au

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Chairman’s Report

I am very proud to present the Future State Greats Ltd Annual Report for the year ended 30 June 2013.There is no doubt that we have faced a number of challenges in what has been our first full financial year of operation as a non-profit public company limited by guarantee, however I am pleased to report that we have come through this period having achieved many of our goals.

In particular, we have established a strong operating platform that is helping us to strengthen our relationships with Education Queensland, small business enterprises, individuals from the private sector and the numerous school communities throughout Queensland. We are working with University Queensland to develop a pathway into tertiary education for students identified through our Aspirations4Kids in Sport project and we are in the early stages of developing a “skills testing” program for young children.

Our core purpose is to use the virtues of sport to make a difference to the lives of young people and for the betterment of society. It is in this pursuit that we have excelled for, during the year, we provided $44,380 to assist 87 Queensland school students in need so they could participate in school sport. In addition, we provided 24 “Elite” bursaries to assist some of Queensland’s most promising young athletes in furthering their careers.

Of course, none of this would be possible without our financial supporters. In particular, I wish to acknowledge the continued support of one of Queensland’s leading philanthropists whose passion for helping our youth through education and sport is an inspiration.

We also acknowledge the support and generosity of the Toyota Company, Hyundai Motor Company Australia, the Scott Family from Go Boating, Northwest Athletics and Queensland Running. I would also like to welcome the members of our Future State Greats Captain’s Club and thank them for their involvement and commitment in helping students in need.

I am very excited to announce that our inaugural sponsor QT Mutual Bank Ltd have agreed to continue their association for another 12 months. We are especially grateful to them for allowing Future State Greats to base our operation in their offices at 454 St Paul’s Terrace Fortitude Valley.

I would like to extend a sincere thankyou to fellow director Kevin Brasch, and Phil Muller who acts as an Observer at meetings and our conduit to Education Queensland via the Queensland School Sports Unit. Also to Department of Education, Training and Employment Director-General Dr Tim Watterston and Executive Director Nick Seeley we thank you for your contribution to the FSG Elite Luncheon and ongoing support.

Chairman – Ian Healy

Yours in sport

Ian Healy – FSG Ltd Chairman

We would also like to acknowledge the Gambling Community Fund for its assistance. I would also like to thank our company secretary Grant O’Hara and general manager Peter Lamb whose combined commitment and belief in what we are trying to achieve has been invaluable in getting Future State Greats to where we are today.

Along the way we said goodbye to a Queensland Sporting Legend in Vicki Wilson who retired as a director after a 13 year association with the Queensland School Sport Foundation and the ‘old’ and ‘new’ versions of the Future State Greats. I would like to take this opportunity to thank Vicki for her service, dedication and support.

Sadly, we also farewelled director and one of Queensland’s longest serving and well respected sporting administrators in Ross Livermore who passed away during the period under review. His guidance and experience will be sorely missed.

I am very pleased to welcome newly appointed directors Liz Pidgeon and Holly Whitcroft to our board and I look forward to working with them to ensure that we capitalise on the opportunities that have been created over the last 12 months.

I would like to thank the Australian Sports Foundation who ably assists us to administer our Aspirations4Kids in Sport project.

To our ambassadors, Pat Rafter, Laura Geitz, Brenden Hall, Kate McCarthy, Jharal Yow Yeh, Jared Watson, Kyle Potgieter, Sabteca Fejo and Mesele Gebre, thank you for selflessly giving your time and advocacy to furthering our cause.

Finally to our Honorary Accountant Scott Whyte of Whytes Accounting, our Auditor Geoffrey Stephens of Williams Hall Chadwick and our Honorary Lawyer John Mullins from Mullins Lawyers, I thank you for your kind contributions and valuable ongoing support.

It is a privilege to be a part of an organisation that is helping those less fortunate and positively changing the lives of young Queenslanders and I am excited as I look ahead to the coming 12 months.

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OUR STORIESOur organisation exists to support stories like these:

OUR STORIESThrough the generosity of our Future State Greats Supporters and the work of the Australian Sports Foundation via the Aspirations4Kids in Sport project, our organisation exists to support stories like these:

Cuba Roth Cuba Roth began playing football as a five year old and immediately knew that this was the sport he wanted to play. In the years that followed he has enjoyed success with selection in a number of age representative teams and most recently, Cuba represented Peninsula Region at the State Football Championships. The Roth family have made friendships through Cuba’s football both in the club and school scenes that will last a lifetime. The sporting community has been there to support Cuba during some emotionally difficult times whilst his mother underwent two episodes of brain surgery and a seven week stay in Brisbane to undergo radium treatment. Cuba has been able to find camaraderie within his team that has given him a place to be a child without the worries life has dealt him. The resulting financial impact on the family of the health issues has meant that, at times, Cuba has missed out on participating and the family have missed out on watching Cuba play. The Roth family are extremely grateful to the school principal Mr Glen Bucklar who approached Future State Greats to assist with covering the cost of Cuba’s Peninsula team levy and clothing costs to attend the state championships.

AGE: 12 years

DOB: 10 May 2001

SPORT: Football

REGION: Peninsula

SCHOOL: Our Lady Help of Christians Cairns

HARDSHIP: Hardship

Jessica Street For the Street family, finding out their eldest daughter was deaf came as a surprise particularly as Jessica was in grade three at the time. You see, Jessica did not know she had degenerative hearing loss and had simply learned to cope in life with the disability. One of five children, Jessica received a cochlear implant in 2010 which put an end to her participation in contact sport. Undeterred, Jessica turned to athletics and cross country where she has made every post a winner and recorded some impressive results. Most recently, Jessica collected a silver medal in the National Cross Country event in Tasmania narrowly missing the gold medal by 0.08 seconds. Illness and injury have impacted on the family finances and with a large family, money and time are tight. Grandmother Ann Wing lends a hand by getting Jessica to training and accompanying her to events around the state allowing mum Sonya to care for the young kids. Jessica’s disability also had an adverse impact on her education however with some hard work and assistance she is completing year 11 by distance education and has a goal of completing her year 12 certificate in 2014. Jessica dreams of becoming a professional in the fitness industry and using those skills and her experiences to help others less fortunate like her younger brother who also suffers from degenerative hearing loss. Future State Greats assisted the Street family to allow Jessica to represent Darling Downs and Queensland in cross country.

AGE: 17 years

DOB: 9 June 1997

SPORT: Cross Country/Track and Field

REGION: Darling Downs

SCHOOL: Distance Education

HARDSHIP: Disability

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OUR STORIESOur organisation exists to support stories like these:

OUR STORIESThrough the generosity of our Future State Greats Supporters and the work of the Australian Sports Foundation via the Aspirations4Kids in Sport project, our organisation exists to support stories like these:

Mesele Gebre Mesele was born in Ethiopia however, at a young age his parents disappeared during the civil war and Mesele, along with his brother and sister, were forced to fend for themselves. As a refugee in Australia, Mesele was lucky enough to be settled in the Yeronga State High catchment as the school community led by principal Terry Heath and teacher Matt Peterson rallied around Mesele and his sister and effectively became their “de facto” family. A talented distance runner, earlier this year Mesele became an Australian citizen and dreams of representing his adopted nation at the Commonwealth Games and Olympics. Mesele is passionate about education and while overcoming the language barrier has been a challenge, Mesele is determined to go to university and gain a professional qualification. There are plenty of excuses that Mesele could hide behind but instead, there is a big smile and a willingness to be the best person he can be and Future State Greats is proud to assist Mesele and thank him for his work as one of our ambassadors.

AGE: 17 years

DOB: 11 December 1997

SPORT: Track and field & Cross Country

REGION: Metropolitan West

SCHOOL: Yeronga State High School

HARDSHIP: Hardship

Kyle Potgieter Competing in your local athletics day is something most kids take for granted but when you have only 6% eyesight, it takes some courage. When a teacher offered to guide Kyle around the track so that he could “earn a point for his house” it occurred to Kyle that if he could walk with a guide then maybe he could run with a guide. Fast forward 12 months and Kyle sets a national record in the 100m, 200m and 800m for 11 year olds with disability and Future State Greats helped the family by paying for Kyle’s “running guide” to attend the event. Through participation in sport, Kyle’s horizons have broadened, his confidence has grown and his frustrations have reduced as he experiences the many virtues of what sport has to offer. Kyle may well one day represent Australia but if a measure of greatness is not what you achieve but what you overcome in achieving it, then Kyle has already achieved something great.

AGE: 12 years

DOB: 9 February 2001

SPORT: Track and Field

REGION: Metropolitan North

SCHOOL: Aspley East State School

HARDSHIP: Disability

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A – number of meetings attended B – number of meetings held during the time the director/secretary held office during the yearDetails of the directors’ experience and special responsibilities can be found in page 28-29 of this report.

The names of the each person who has been a director during the year at the date of this report are:

Foundation Members Ian HealyKevin BraschVicki Wilson Grant O’Hara

Directors + Members

Date Appointed Date of Cessation A BIan Healy 31 October 2011 - 9 9Kevin Brasch 31 October 2011 - 8 9Vicki Wilson 31 October 2011 12 February 2013 0 2Ross Livermore 25 January 2012 21 May 2013 3 5Holly Whitcroft 21 May 2013 3 4Liz Pidgeon 18 June 2013 3 3Grant O’Hara (Secretary) 31 October 2011 - 9 9

Nil

Our vision is to use the positive virtues of sport as the vehicle to make a real and sustainable difference to the lives of young Queenslanders, leading to the betterment of society.

Future State Greats Vision statement

The Future State Greats purpose is to give every young Queensland school student who is experiencing family or financial difficulty the capacity to participate in school sport.

Future State Greats Purpose statement

The display of the following values of each Future State Greats and Aspirations4Kids in Sport project recipient will at all times be viewed favourably:

Future State Greats values

- Discipline - Energy - Uniqueness - Giving back

- Passion - Spirit - Tenacity

Five priority areas have been determined to be key components of the future direction of FSG Ltd, both in the short term and over the next three years. These priorities, and their objectives, are:

Principal Activities

Strategic Priorities Objectives

Resources and Governance To ensure the resourcing level allow for viable growth

To ensure that each Board Director offers a skill set commensurate to the requirements of the company

Funding To sustain the Company into the long term utilising a wide variety of funding sources

Programs To ensure all programs remain relevant and improve outcomes for all recipients

Marketing To maximise cost effective exposure that constantly highlights our capability, enhances our visibility and reinforces the credibility of all programs

Operations and Finance To efficiently deliver all programs, strongly support and communicate to partners, maintain corporately responsible process, whilst at all times being fiscally responsible

It is the aim of the Company to achieve the following short term outcomes:Key Performance Indicator Overview

• $300,000 (EX GST) in tax deductible philanthropic donations• $36,000 (EX GST) in sponsorship• $30,000 (EX GST) in government grants• $40,000 (EX GST) from functions and events• $60,000 (EX GST) in membership fees to our Captain’s Club• 250 stories committed • 100% of recipients have provided complete details• 100 stories posted to Facebook• $100,000 worth of media exposure • Future State Greats Scholarship program in place.• Future State Greats Ambassador program in place. • All 12 School Sports Regions to have students benefitting from Future State Greats programs.

• 30 Captain’s Club members enrolled• Clubs Queensland Agreement in place• Long term agreement in place with major sponsor• Funding model entrenched• Administration support officer in place• Annual Golf Day enhanced.• Captain’s Club lunch enhanced• Future State Greats Elite lunch enhanced • Preferred University agreement in place• Major research project commenced – benefits of playing sport in relation to positive classroom performance.

By end 2014 Financial Year By end 2014 Financial Year

DIRECTORS & MEMBERS

The Foundation members of the Company are:

Ordinary MembersThe ordinary members of the Company are:

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Members’ Guarantee

In accordance with the company constitution, each member is liable to contribute $nil. in the event that the company is wound up.

Auditors’ Independence

The Auditors’ Independence appears in this report and forms part of the Directors’ report for the year ended the 30th June 2013.

Rounding

The company is of a kind referred to in ASIC Class Order 98/100 dated the 31st day of October 2011, in accordance with this class order amounts in the financial report and the directors’ reports can be rounded off the nearest thousand dollars unless otherwise stated.

Signed in accordance with a resolution of the directors made pursuant to s. 298(2) of the corporations act.

On behalf of the directors:

Ian HealyChairman – FSG Ltd

Directors’ Declaration

The directors declare that in their opinion:

a) The attached financial statements and the notes thereto comply with the accounting standards

b) The attached financial statements notes thereto give a true and fair view of the financial position and performance of the company

c) The attached financial statements notes thereto are in accordance with the Corporations Act 2001 and the Corporations Regulations 2001

d) There are reasonable grounds to believe the company will be able to pay its debts as and when they become due and payable.

Signed in accordance with a resolution of the directors’ made in pursuant to s. 295(5) of the Corporations Act 2001.

On behalf of the directors:

Ian HealyChairman – FSG Ltd

MEMBERS’ GUARANTEE

DIRECTORS’ DECLARATION

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Future State Greats Limited (A Company limited by Guarantee)

Independent audit reportTo the members of Future State Greats Limited

Report on the financial reportWe have audited the accompanying financial report, being a special purpose financial report of Future State Greats Ltd, which comprises the statement of financial position as at 30 June 2013, the statement of comprehensive income, statement of changes in equity and 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.

Director’s 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 and have determined that the basis of preparation described in Note 1 to the financial report is appropriate to meet the requirements of the Corporations Act 2001 and is appropriate to meet the needs of the members. The directors’ responsibility also includes such internal control as the directors determine is necessary to enable the preparation of a financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s responsibilityOur 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 qualified 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 Future State Greats Ltd, would be in the same terms if given to the directors as at the time of this auditor’s report.

Basis for Qualified Opinion Donations & Cash Income - A significant amount of the income of the company during the year consisted of donations & fundraising income, some of this in cash. In common with other entities who receive these types of income, it is not practicable to implement sufficient systems & controls to ensure that all such income is received & banked. Whilst we have carried out procedures to test that larger items of income, identified by the company have in fact been received & banked, we were unable to identify any systems which might ensure that other items of donations and cash takings from fundraising activities are in fact received & banked. Therefore, in relation to these types of transactions, our audit procedures have been limited to testing the transactions from the point at which they are recorded in the books & records.

Qualified Opinion In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial report of Future State Greats Ltd is in accordance with the Corporations Act 2001, including:

(a) giving a true and fair view of the company’s financial position as at 30 June 2013 and of its performance for the year ended on that date; and (b) complying with Australian Accounting Standards and the Corporations Regulations 2001.

Auditors Independence Declaration under Section 307C of the Corporations Act 2001 I declare that, to the best of my knowledge and belief, during the year ended 30 June 2013 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.

CERTIFICATE REGISTRATION OF A COMPANY

INDEPENDANT AUDIT REPORT

Geoffrey StephensDirectorWilliams Hall ChadwickChartered Accountants

Dated 30th September 2013PAGE 16

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ACCUMULATED FUNDS

Accumulated Funds 76,041.39

TOTAL ACCUMULATED FUNDS 76,041.39

REPRESENTED BY:

INTANGIBLE ASSETS

Company Establishment Costs 791.00

CURRENT ASSETS

QTMB Current Account 27,775.39

Amounts to be received - Australian Sports Foundation 55,000.00

TOTAL ASSETS 83,566.39

CURRENT LIABILITIES

Annual GST Return 2,525.00

GST Owing (2013 year) 5,000.00

TOTAL LIABILITIES 7,525.00

NET ACCUMULATED FUNDS 76,041.39

2012 $

STATEMENT OF FINANCIAL POSITIONAS AT 30 JUNE 2013

INCOME

GENERAL

Interest Received - QTMBQLD School Sports ContributionRefund Received - ASF Fee

ASPIRATIONS4 KIDS IN SPORT

3,822.85

ASF FUNDING

TOTAL INCOME

EXPENDITURE

2012 $

TOTAL EXPENDITURE 2,781.46

EXCESS OF INCOME OVER EXPENDITURE 76,041.39

INCOME AND EXPENDITURE STATEMENT

FUTURE STATE GREATS LTD

YEAR ENDED 30 JUNE 2012

SUMMARY OF ACCOUNTSFUTURE STATE GREATS LTD

INCOME AND EXPENDITURE STATEMENTAS AT 30 JUNE 2013

FUTURE STATE GREATS LTD

2013$

81,797.94

81,797.94

75,668.52

-

85,010.94

3,213.00

-

3,213.00

81,797.94

PROPERTY PLANT AND EQUIPMENT

Office equipment - at cost -8,551.42

791.00 791.00

Grants Received (QLD Athletics/Golf Day)Captain’s ClubSponsorshipsFundraisingDonations

0.39 3,572.46

250.00 -----

212,895.63

3,426.72 --

92,431.78 14,000.00 30,506.00 38,370.00 34,161.13

2013$

Sunnybank Community & Sports ClubA BriceToyota

25,000.00 50,000.00

-

--

15,000.00

78,822.85227,895.63

ASF Application FeeProject Distributions -

Aspirations4KidsElite BursariesElite Lunch

Establishment CostsInsuranceAdminstration ExpensesGeneral Expenses

275.00 -----

1,891.46 --

-

54,200.00 12,000.00 18,274.5622,842.87 1,850.78

96,801.9512,781.92

Website 615.003,387.00

222,139.08

5,756.55

Following is a summary of the of the Directors, Company Secretary and Honorary Associations

Ian HealyFSG Chairman and 13 year association. 119 Test Legend ‘Keeper of the Century’, successful business owner and respected media personality. Responsible for all facets of the organisation especially strategic direction.

Kevin Brasch Director and 13 year association. Life long commitment to the ARL, ARL Foundation, QRL, BRL, and school sport. Responsible for governance and funding commercial and philanthropic.

Liz PidgeonOfficially appointed to the board in June 2013. Liz brings a wealth of business knowledge and expertise having been involved in the property industry for 25 years. Her experience in the sport and leisure sector extends to the Queensland Surf Life Saving Foundation where she served as a long term board director and chair.

Holly Whitcroft Welcomed to the board in May 2013, Holly’s credentials include a Bachelor of Law (Hon), Bachelor of Business (Int’L) and was admitted as a solicitor in 2008. She joined Mullins Lawyers in 2007 a company renowned for its association with sport.

Grant O’Hara Company Secretary and former Marketing Manager Queensland Reds and Acting Marketing Manager Queensland Bulls, 3 year association with FSG Ltd. Responsible for strategic direction and

marketing.

Phil Muller Works in the Queensland School Sports Unit. Coordinated the transition of the company to a limited by guarantee entity and

provides the conduit between FSG and Education Queensland.

John Mullins Honorary Solicitor Partner Mullins Lawyers assisted to construct the FSG Ltd constitution and the formal agreement with the Department of Education,

Training and Employment.

Scott Whyte Honorary Accountant Partner Whytes Accountants prepared the Company Statement of Financial Position and Income & Expenditure Statement. Scott also

provides accountancy advice

DIRECTORS’ SUMMARYAND HONORARY ASSOCIATIONS

Peter Lamb General Manager and former banking professional with over 30 years experience in the finance industry. He brings a wealth of business experience and expertise to the company. He is responsible for the day to day operations of Future State Greats Ltd.

Vicki WilsonAfter a 12 year association netball legend Vicki Wilson tendered her resignation to the FSG board in December 2012. FSG owes a debt of gratitude to Vicki for her long term commitment to the

organisation and wish her all the very best for the future.

Obituary - Ross LivermoreIt is sad to record the passing of respected Queensland Sports Administrator Ross Livermore during this reporting period. Ross was a much valued director on the board and his contributions

are sorely missed.

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Business of the Annual General Meeting

The business of the Annual Meeting shall include::

a) To receive reports of the Board of Directors,

b) To receive and consider the financial statement and the report of the auditor,

c) To appoint the auditor as and when required by the Act,

d) To elect Officer Bearers and Directors,

e) To receive and consider the reports of any Committees as a directed by the Board of Directors,

f) To vote on any nominee for the election of Life Member, and

g) To deal with any other business approved by the Board of Directors.

Following is a summary of the of the Directors, Company Secretary and Honorary Associations

DIRECTORS’ SUMMARYAND HONORARY ASSOCIATIONS

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