SYDNEY ROWING CLUB€¦ · Gold Cup, the Champion Men’s Pair of Australia, and the Champion...

SYDNEY ROWING CLUBLIMITED

2017 ANNUAL REPORT147TH ANNUAL REPORT AND FINANCIAL STATEMENTS 2016 – 2017

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S Y D N E Y R O W I N G C L U B A N N U A L R E P O R T 2 0 1 7

SYDNEY ROWING CLUB LIMITED

OffICE BEaRERS 2016 – 2017

PaTRON His Excellency General the Honourable David Hurley AC DSC (Ret’d)

Governor of New South Wales

PRESIDENT Keith Jameson OAM

VICE PRESIDENTS Stephen Handley

Michael Morgan OAM

CaPTaIN Paul Coates (Part year) Simon Nola (Part year)

VICE CaPTaIN Kendall Brodie

fINaNCE DIRECTOR Scott Turner

DIRECTORS Kirsten Liljeqvist,

David Sollom, Susanne Thiebe

GENERaL MaNaGER Peter Grosvenor

HEaD COaCH Donovan Cech

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GENERaL MaNaGER’S REPORT I am pleased to report that the club has experienced another successful year both on and off the water.

I congratulate the coaches and athletes on their excellent efforts this year which have produced some outstanding results. I encourage you to read the Captain’s report for the full details of this year’s successes.

It has been a busy year for the Club with various projects being completed. This included

substantial funds invested into the ongoing repairs and maintenance to the boat shed including the replacement of the pontoon, an extension of our Lounge bar facility and the development of a new dining offer, The Smoking Goat.

The Lounge bar extension opened in November 2016. The increased capacity has allowed us the ability to provide higher levels of service efficiency to our members resulting in five of the preceding six months achieving record trading and contributed to a record Lounge bar trading result for the financial year.

The Smoking Goat restaurant opened in May 2016. While starting strong and achieving record results over the Christmas period it unfortunately did not deliver the expected results. The performance highlighted the downward trend of formal dining being experienced within the industry and the challenges of providing a specialised dining experience and an event location within such a large space. Work has now commenced on transforming this space to be included into a “whole of club” ultimate casual dining experience which is due for completion in September 2017.

The club’s gaming facilities continued to perform at consistent levels. Membership subscription levels were close to 14,000. Interestingly, industry research shows that the average memberships for similar sized clubs as ours within the Sydney region are attracting an average of 5,000 members. We should take great confidence that SRC is continuing to provide a popular destination where membership is valued.

Looking further to the future, it is expected in the next financial year to see some strong progress on the masterplan as we firm up the finer details of our next building stage. This stage is expected to provide an increase to clubhouse, rowing and car parking facilities for our members.

I would like to take this opportunity to thank Con and Kerrie Dedes and their team for delivering such a wonderful dining experience and being such a professional team for the club to align with. Meeting customers’ expectations within the current market is becoming increasingly difficult and Con and Kerrie should be commended for exceeding this.

It is important to thank the exceptional SRC Board, management and staff who are strongly committed to the club, are passionate about our product and consistently provide high levels of support to both myself and the members.

Finally, I thank the members for their ongoing support of SRC and look forward to an exciting year to come.

Peter GrosvenorGeneral Manager

PRESIDENT’S MESSaGEWe are enjoying a very pleasing period of success and stability in our rowing program. Success is not achieved overnight. It is the outcome of many years of effort on the part of our competitors, coaches and administrators. I congratulate all involved in the club’s program in recent years and their efforts leading to the successes that are set out in this report.The club again received the award of Champion Club of Australia, based on the results achieved at the National Championships. Our members were prominent on the podium at all levels

of competition over the course of the regatta. The club was also successful in some key iconic events in the regatta calendar, including the Champion Men’s Eights of NSW, the Riverview Gold Cup, the Champion Men’s Pair of Australia, and the Champion Men’s Sculls of Australia (last won for SRC by Ted Hale in 1982). Especially pleasing is the steady progress we are making with our women’s program, with strong performances at the NSW and National Championships.Sydney Rowing Club was again very well represented in Interstate and International competition. A key outcome this year was the win of the NSW eight in the King’s Cup, coached by our Head Coach Don Cech and with four of our members in the crew.Our success was achieved during a period of change at the National level, Rowing Australia having instituted organisational changes, changes in personnel, and changes in its program. We were pleased that our leading members were successful in gaining entry to the new National Training Centres, in Canberra for men and in Penrith for women. It was very pleasing, too, that under the new rowing administration at RA, the NTC athletes were able to compete in club crews at the National Regatta, thus giving the regatta greater relevance and meaning to the clubs and their athletes. This was a great decision that brought the rowing community together.In the boatshed, we have continued our program of repairs and maintenance to the building, adding substantially to our rowing costs this season. We continue to review the club’s fleet and equipment and again this year made necessary purchases to give our rowing members the best chance to be successful.Financially, the club had a very satisfactory year, with pleasing patronage of the club’s lounge bar and restaurants. We very much appreciate the support we receive from the local community.Our long and successful collaboration with our caterers, Con and Kerrie Dedes, continues to provide lasting benefits for the club. We thank them and their staff for their close co-operation and strong commitment to quality and service. During the year, Con and Kerrie exercised their option to extend the agreement with the club for a further five years.We are grateful to our General Manager Peter Grosvenor and his staff who work hard to make our club house successful.We regularly review the operation of our licensed club. Last year we replaced the front windows of the main restaurant with sliding windows, and expanded the main bar. This year we are making further changes to the building, and these are currently under way. These changes will allow us to expand, streamline and improve our dining facilities.Separately we are working on a long-term master plan which will involve expansion of the spaces and improvements in the facilities we provide to members.Our refurbishments in the club house and in the boatshed, and our upgrades to the club’s fleet, have been carried out with funds generated through current cash flow without the need to borrow money. The Board has appointed a subcommittee to begin planning the celebrations for the club’s Sesquicentenary year in 2020. The celebrations will include a Sesquicentenary Regatta and a Sesquicentenary Dinner, and we plan to republish Sydney Rows, the club’s Centennial History, with an update for the 50 years 1970 to 2020.I wish to thank my Board colleagues for their efforts over the year. Our directors work hard for the club, attending two Board meetings most months, plus subcommittees, and the club’s long-term success owes much to the dedicated work of our Board.We are looking forward to the new rowing season. We know we must not rest on our laurels. Our sport is highly competitive and other clubs are keen to beat SRC at every opportunity. This can only be to the benefit of the sport. I wish all our members the best of success.

Keith Jameson President

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HONORaRY LIfE MEMBERSHIPThe club’s Board has recommended that Honorary Life Membership be conferred upon three outstanding members who have been prominent in the sport over the past Olympiad, and great ambassadors for the club.

Chris Morgan is an outstanding oarsman. He is a world champion in sculling and in sweep and has represented Australia in six World Championships (2005, 2006, 2007, 2010, 2011, 2014) and three Olympic Games (2008, 2012, 2016). Chris moved from Adelaide to Sydney after winning a bronze medal in the 2012 Olympic Games in the Men’s Quad. The success of our program since then owes much to the high level of athletic ability and leadership that Chris displays. He has won many races

for SRC and with his success last year was selected into the Australian Double Scull for his third Olympics where they won the B-Final.

Chris has had to manage several injuries throughout his career to stay in the national squad so his performances in the last Olympiad and in particular the 2016 National Championships were very impressive. He won a silver medal in the Men’s Single Scull and two gold medals in the Men’s Double and Quad Sculls. He has represented South Australia in the Interstate single scull and King’s Cup many times since 2005, and in 2016 won bronze medals in both events only one hour apart.

Apart from winning races for SRC, Chris has served as a terrific role model, mentor, coach, leader, personal trainer, psychologist and friend to us all. Morgs has time for everyone and never discriminates between club and elite level rowers, because anyone with the willingness to learn is worthy of his support. He will offer his technical expertise to everyone who catches his eye in all aspects of training. It doesn’t matter if you are performing a deadlift in the gym, running around Hen and Chicken Bay or rowing in the boat, Chris will offer his advice in a masterclass and turn you into a better athlete. He won’t tell you what you want to hear, he’ll tell you what you need to hear in order to improve.

Chris’ experience at the highest level of rowing extends way beyond the technical side of the sport. He also taps into the psychology of rowing and helps others to get through the pressure situations such as Championship races and selection trials. Chris has also helped to build a strong culture within the club with his generosity in gifting his national team training gear to young club rowers in need, attending club social events and functions, and turning any situation into a positive one. Thank you, Chris, for being such a big part of our club and making a huge difference.

Spencer Turrin and alex Lloyd have shared a lot of their success together in the coxless pair. They both started out in SRC Junior Quads that competed in the Fawley Challenge Cup at Henley Royal Regatta (Alex in 2008 and Spencer in 2009), and they persisted with the sport and worked hard to get to where they are today. They have shown all aspiring young rowers that you don’t necessarily have to row in the Australian Junior team to be successful later in your career.

Spencer made his first Australian Team in 2011 in the U23 Men’s Eight which won the B Final at the U23 World Championships in Amsterdam. In 2012 Spencer and Alex were paired together for the National Championships placing fifth. They went on from this disappointing result to win the pair trial a few weeks later at the U23 Australian Selection Trials and consequently were selected into the Men’s Eight which won a bronze medal at the U23 World Championships in Trakai, Lithuania.

Domestically both Spencer and Alex have done very well. Spencer rowed in the winning King’s Cup Eight in 2013 and was joined by Alex in the state crew in 2017 when NSW won for the seventh time in a row. With two second places to Victoria in 2015 and 2016, Spencer and Alex were proud to claim the King’s Cup back in 2017 with a dominant display of rowing from a crew that included club mates Angus Moore and Ed White. Spencer and Alex have had great success in the pair with podium finishes at the NSW and National Championships every year from 2013-2016.

With consistently solid performances at selection trials throughout the Olympiad, they were selected into the Australian Men’s Four in 2013 which won silver, gold and silver medals at World Cups I, II and III respectively. They finished the year with a Silver Medal at the World Championships in Chungju, South Korea. In 2014, they won the Men’s Four and Eight at World Cup I and went on to win a bronze medal in the Men’s Four at the World Championships in

Amsterdam. Following their outstanding gold medal win in World Cup III over the Italians in 2015, Alex broke his collar bone in a bike accident and was unable to compete at the World Championships in Aiguebelette, France. Spencer remained in the crew and the four were unfortunately beaten by the same Italian Four and had to settle for a silver medal. Alex made a miraculous recovery to get himself back onto the national team in 2016. They were selected as the Men’s Pair for their first Olympic campaign which began with a scratchy fifth place in World Cup II. The pair made significant gains to win a silver medal (2.71sec behind NZ) at World Cup III, the closest that any pair had ever come to the famous Kiwi Pair who were unbeaten from 2009-2016. Spencer and Alex were the Australian Men’s Pair at the 2016 Olympic Games in Rio de Janeiro where they placed 6th in the A-Final in extremely challenging conditions.

Since the Olympic Games Alex has taken some time off from international competition to finish his Engineering degree while Spencer decided to take on single sculling at the National Championships to prove that he is Australia’s best all round rower. After an amazing race, he was crowned Champion Sculler of Australia for 2017, beating the 2016 champion. Spencer again made selection into the Australian senior team, rowing in the winning Men’s Four in World Cup II and in the Men’s Eight in World Cup III where they were received the Silver medal, beaten by current World Best Time holders, Germany by 0.49sec.

Chris, Spencer and Alex have represented the club with pride and integrity. Their contribution to our senior men’s program has been significant, with the highlight being the great win over Sydney University in the Men’s Eights at the NSW State Championships in 2015. This was a major turning point in the recent history of our club. Their performances made a major contribution to the club’s success in being crowned Champion Club of Australia in 2016 and 2017. These three men are an inspiration to our members and have made Sydney Rowing Club a better place. They are worthy recipients of the award of Honorary Life Membership.

Lachlan Carter

Spencer Turrin

alex Lloyd

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CaPTaIN’S REPORTI must begin by thanking my good friend Paul Coates for his service to the club as Captain. Paul made the decision to resign from the board after seeing the club through many successful seasons as Captain. Paul continues to bring his expertise and passion to the junior program which has thrived both in its own right as a group of athletes, and by contributing a number of talented and committed athletes to the senior program. I hope I can continue to rely on Paul for guidance, and I continue to look up

to him as an example of true passion for our club, and for the sport of rowing. Sydney Rowing Club has maintained its number one position in 2017, thanks to the hard work and dedication of countless members and volunteers. During the season, our crews represented the club with pride and great success. In what is traditionally a light year for elite competition, following the Olympic year, a small number of our elite members have taken the opportunity to rest and recuperate, while others are taking the opportunity to obtain valuable international racing experience in the lead up to 2020. Coach Carter has taken advantage of this time to become engaged to his partner and World Championship silver medallist, Laura Dunn, congratulations Lachy and Laura.Looking back on a year that began with the 2016 Olympic Games, one can gain an appreciation for the vital role our coaching staff plays in the club. Maintaining the top position is considerably more difficult than any other position, particularly with the quality of rowing clubs we have as our peers and the challenges created by external factors, from the establishment of National Training Centres and changes to Olympic boat classes to pontoon replacement and the constant struggle to find flat water (driving Kirsten Liljeqvist to take up rowing a wooden skiff). Material changes have come into effect at the international level, with the loss of the Men’s Lightweight Four from the Olympic program, and the opportunity presented by the addition of the Women’s four to the program. Closer to home Rowing Australia has established two National Training Centres (NTCs) for men and women, located in Canberra and Penrith respectively, the aim being to provide selected athletes with world class facilities and coaching, giving them the best chance at success in the coming Olympiad. Leah Saunders was invited to join the women’s NTC and Spencer Turrin, Josh Hicks and Angus Moore were invited to Canberra. While it is never ideal for our most talented athletes to train away from the club, it is clear that the NTCs have been successful, with SRC’s athletes winning a gold, two silver medals and a bronze medal at World Cups 2 and 3 in 2017. Responding to these challenges at the same time as continuing to educate, mentor and guide our athletes is a demanding task, for which we all thank Don Cech, Jason Baker, Lachlan Carter and James Chapman. Our Head Coach, Don Cech, has been recognised by Rowing New South Wales with the award of NSW Coach of the Year. This is the second year in a row that Don has earned this award. Our Coaches are also supported by a tremendous team of part-time and volunteer coaches, in particular Paul Coates, Jim Stride, Luke Stait, Gavin Parcsi, Sean Madeley, and Stephen Handley who all provide an essential service to the club and contribute a tremendous amount to our success. The NSW State Championships were held in record breaking heat in 2017 causing stress and discomfort for the athletes, and as a result much of the racing was rescheduled or cancelled. Nevertheless, our club achieved much success, rounding out a successful regatta by winning the QL Deloitte trophy with an open water win in the blue riband Men’s eight. The crew of Ed White, Charlie Patterson, Chris Morgan, Nathan Bowden, Alex Lloyd, Spencer Turrin, Angus Moore, Josh Hicks, and coxswain Kendall Brodie, won by nearly seven seconds. Ed White, Alex Lloyd, Chris Morgan, and Nathan Bowden with Pippy Wiseman steering, annihilated the opposition in the Coxed four, winning by over 18 seconds and showing that our club is certainly a force to be reckoned with in the coxed boats. The club was also represented in the top two Elite Men’s Coxless fours, which were both composite boats put together by the National Training Centre, with

Gus Moore in the winning boat and Spencer Turrin and Josh Hicks in second place. In total SRC won eight gold, four silver and six bronze medals including a nail-biting finish in the U23 Women’s single scull by Harriet Hudson, two crews on the podium in the Elite Men’s Pair with Spencer Turrin and his pair partner from Adelaide, Alex Hill in first and Gus Moore and Josh Hicks in third, and another open water victory for Romy Davenport in the U21 Lightweight Single Scull. Georgia Bradley was another stand out of the regatta, winning the Schoolgirl Single Sculls for Sydney Girls High and another gold in the Women’s U19 Coxed Four with Lauren Graham, Lauren Lyon, Ella Hudson and Pippy Wiseman (Cox). I am encouraged to see a resurgence of lightweight rowing at the club, not only in Romola Davenport’s dominance of the U21 Lightweight Single Scull, but the fast finishing Under 21 Lightweight Double combination of Sebastian Myles and Wyatt Batt who finished less than a second behind the winners in quite a good time, nearly making up a four second deficit in the final stages of the race.Undoubtedly the highlight of the Sydney International Rowing Regatta was to see Spencer Turrin hoisted up on the shoulders of his opponents, as Champion Men’s Single Sculler of Australia. Spencer’s defiant return to the single scull after spending a number of years establishing himself as one of the best sweep oarsmen in the country is truly an awe-inspiring feat that will be remembered for years to come. Other impressive results at the National Championships included the win in the Men’s Pair of Gus Moore and Josh Hicks, Harriet Hudson rowing in the winning Women’s Open Quad and winning the U21 Women’s double with Romy Davenport, and Harriet’s second in the Open Double with Leah Saunders, and Leah, Harriet and Kendall Brodie teaming up with the rest of the NSW Crew to win the Sprint Women’s Eight. The Club dominated the Men’s Coxed fours once again, and had members in the first and second placed Men’s Coxless Fours. Erik Horrie was again successful in winning the Arms and Shoulders Single Sculls. The club’s strength was reflected in its win in the overall points score for the Championships. In the Interstate Regatta, the club was similarly well represented, with Ed White making his debut in the King’s Cup and simultaneously breaking the drought for NSW, alongside club mates Spencer Turrin, Gus Moore and Alex Lloyd and coached by SRC’s own Don Cech. The Men’s Youth Eight also dominated the field, coached by Jason Baker and with SRC Member Tom Barnes on board. The Queen’s Cup eight, including Leah Saunders and Harriet Hudson, with James Chapman selected as the assistant coach, took second place with an aggressive race strategy aimed at dislodging the dominant Victorian crew who have now won the event 13 years in a row. The NSW Women were narrowly beaten in the last 500m, but the race was a huge improvement on previous years and bodes well for the 2018 crew’s chances. The Club was also represented in the fourth-placed Women’s Youth Eight with Georgia Bradley and Lauren Lyon, and by Coach Carter as assistant coach of the Lightweight Men’s Four, claiming bronze for the third year in a row.I can’t begin to express how impressed I am with the Sydney Rowing Club women’s program. After many years of one-off individual successes in small boats, courtesy of the likes of Tess Gerrand and Leah Saunders, it fills me with pride to see a full Women’s Eight wearing light blue and winning events at the state and national championships. I must admit, I had serious doubts that the success we have seen over recent years was possible, particularly with the rise of some very strong women’s programs at UTS Haberfield, SUBC, and Mosman Rowing Clubs, but Coach Carter has proven me wrong by building a program from a nucleus of only a couple of female athletes – albeit very talented ones. Members of the Sydney Rowing Club Women’s squad won five gold medals at the National Championships, including the Club four and the Club eight championships of Australia. The Board is committed to ensuring that the women’s program continues to go from strength to strength, and sent two crews to Henley Women’s Regatta in the UK and the Holland Beker Regatta in Amsterdam to gain exposure to a very high level of racing and to bring back experiences to share with the rest of the squad. Leah Saunders and Harriet Hudson, the leading members of our women’s program, did not represent Australia in the same Women’s Quad crew this year due to their age differences, but they are both sitting in the bow seat, with the rest of the crew in both cases being made up of Gen Horton, Rowena Meredith and Caitlin Cronin. Leah is bow of the Senior A Women’s Quad which raced at World Cup 2 coming second in the final and World Cup 3 where they placed

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winning the Men’s E Grade Single Scull, and Fiona Martin winning the Women’s F Grade Single Scull. In the Mixed Events Fiona and Rick Martin won the F Grade Double and Kaye Smythe teamed up with Geoff Raymond to with the G Grade Mixed Double Scull. The club was represented in the Master’s Interstate competition as well, with Fiona Martin in the Bronze winning Women’s Quad Scull, and Deb Church and Jennifer Edge in the Women’s eight, which won silver. Our club’s newsletter, The Catch has become a global success, and is due to enter its fifth year of publication in November. The global and constantly growing readership is a testament to the efforts put in by all involved and it is my hope that this continues to gain momentum and its success can add to the renown of the club overall. There are a number of people whose hard work goes into the production of The Catch. Editor Jenny Cole and Kendall Brodie coordinate a huge number of newsworthy items across the current and wider membership and their contribution to the club is deserving of praise.It has been a terrific year for the club, with many stand out achievements. I look forward now to the World Championships in Florida, and on to another successful season of working together to keep Sydney Rowing Club on the top step of the podium.

SIMON NOLa Club Captain

third. At the time of writing they are still to compete at the World Championships in Florida. Harriet combined with the same three to race at the Under 23 World Championships in Plovdiv Bulgaria, winning a silver medal in the A Final. We are incredibly proud to be represented on the world stage by Leah and Harriet, and at the club level by our crews at Henley Women’s and Holland Beker Regattas.As has become tradition, the Club sent a number of crews to compete in Europe in 2017. This time the addition of Henley Women’s Regatta to the itinerary meant the squad would be divided. The Women’s Four of Maddy Farrar, Susie Dear, Candice Williams and Emily Partridge improved as the tour went on, but were faced with a very big task on their first day of racing at Henley Women’s Regatta. After qualifying fifth overall in the Time Trial, they were drawn against the fourth qualifier in the heat later the same day, narrowly losing. At the Henley Women’s Regatta, the club’s team included a Composite Junior Quad Scull of Ella Hudson (SRC), Laura Chancellor (Somerville House), Hillary Ballinger (Somerville) and India Thomson (Pymble). The Junior Quad performed exceptionally well in their first international regatta, qualifying all the way to the semi-final where they were beaten by a narrower margin than that which was required by the same crew to win the final later the same day.The Club’s athletes came together for a strong show of force at the Holland Beker Regatta in Amsterdam, where the men’s crews were able to test themselves against some of the best crews in the world in the lead up to Henley Royal Regatta, and the women, who had finished racing at Henley Women’s the week prior were given a second chance to show the results of their hard work. In total SRC had members in five crews competing on the tour. Three were full Sydney rowing club crews, the women’s four mentioned above who competed at Henley Women’s and Holland Beker, and the Wyfold and Britannia fours who raced at Henley and Holland Beker, where they came together to make a formidable eight but were unable to race the final due to an unfortunate flight scheduling clash. At Henley Royal Regatta the club experienced a challenging set of circumstances with both SRC crews meeting top ranked crews prior to the final, with the Britannia Four bowing out to the eventual winners in their quarter final. SRC was well represented in the Temple Men’s Eight at Henley Royal Regatta, with half of the University of California, Berkeley USA crew hailing from SRC, namely James Riley, Sam Horsley, Mark Brinker and Hamish McDonald. The Temple 8+ is a very high standard of racing for student crews, and the Bears combined well in the short time they had to prepare together for the event, being beaten in the semi-final by the Oxford Brookes University ‘A’ Crew, who went on to win the final and defend their 2016 title. Once again, the Men’s program has delivered a fantastic set of results during 2017, winning the Riverview Gold Cup for the third time in a row, winning the NSW Championship Eights, and gaining selection of five men and one coach in the Australian team to join Leah Saunders at the World Cup regattas in Europe. The men performed extremely well, with a gold medal to Spencer Turrin and Josh Hicks in the four at World Cup 2, and they were joined by Angus Moore in the Men’s Eight that went on to win a thrilling silver medal at World Cup 3, less than half a second behind the Olympic champions, Germany. Nathan Bowden also won silver in the coxed pair at World Cup 3 where he combined with former SRC member Ben Coombs and coxswain James Rook. Sam Hardy achieved selection once again in the Under 23 Men’s Coxed Four to compete alongside Henry Youl, Sam Marsh, Andrew Judge and coxswain Georgia Litt in Plovdiv, Bulgaria where the crew placed fifth in the A final. A long-standing member of the Men’s and Women’s programs at SRC, Kendall Brodie, came very close to making history during the selection trials for the Australian Men’s Eight, where she was shortlisted for the coxswain’s position, for which she is now eligible as a result of a recent change to the World Rowing Laws of Boat Racing. At the junior level, the Club is also well represented internationally with Jason Baker, who has been kept busy during the winter season, selected once again to coach multiple World Champion and World’s Best Time holder, Erik Horrie, at the World Championships, as well as the Junior Men’s Quad scull including SRC members Jackson Kench, Harry Crouch and Lachlan Stevenson.Sydney Rowing Club is lucky enough to be home to a number of very talented masters rowers, some of whom once represented the club in open competition and others who have taken it up later in life. Despite its small numbers when compared with the powerhouses of masters rowing, the SRC Masters’ program continues to punch above its weight. At the National Championships in Nagambie Victoria the Club’s small team of ten came home with ten medals, Carl Quitzau

2017 aUSTRaLIaN REPRESENTaTIVESWorld Cup 2 (Poznan, Poland)Men’s Coxless Four Spencer Turrin, Josh HicksWomen’s Quad Scull Leah SaundersMen’s Eight Gus Moore, Nathan BowdenWorld Cup 3 (Lucerne, Switzerland)Men’s Eight Gus Moore, Spencer Turrin, Josh HicksMen’s Coxed Pair Nathan BowdenWomen’s Quad Scull Leah SaundersWorld Rowing Championships (Sarasota, USa)Men’s Coxless Four Spencer Turrin, Josh HicksWomen’s Quad Scull Leah SaundersMen’s Eight Gus Moore, Nathan BowdenAS Men’s Single Scull Erik Horrie, Jason Baker (Coach)World Rowing Under 23 Championships (Plovdiv, Bulgaria)Women’s Quad Scull Harriet HudsonMen’s Coxed Four Sam HardyUnder 21 Trans-Tasman Team Romola DavenportWorld Rowing Junior Championships (Trakai, Lithuania)Men’s Quad Scull Jackson Kench, Lachlan Stevenson, Harry Crouch, Jason Baker (coach)

2017 STaTE TEaM REPRESENTaTIVESPenrith Cup Men’s Lightweight four Lachlan Carter (Assistant Coach)Victoria Cup Women’s Lightweight Quad Scull Romola Davenport (reserve) Women’s Youth Eight Georgia Bradley Lauren LyonMen’s Youth Eight Tom Barnes Jason Baker (Coach)Women’s Eight (Queens Cup) Leah Saunders Harriet Hudson Kendall Brodie James Chapman (Assistant Coach)Men’s Eight (Kings Cup) Ed White Gus Moore Alex Lloyd Spencer Turrin Donovan Cech (Coach)

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YVONNE ELLIS aWaRD Most Outstanding Oarswoman

I’m very pleased that there are two winners of this prestigious award this year, as it shows the growing depth in women’s rowing at SRC. Both Leah Saunders (24) and Harriet Hudson (19) have had outstanding seasons and are both very deserving winners.

After last season when Leah was the reserve for the Australian Women’s Eight at the Olympic qualification regatta she has worked extremely hard to earn a spot in the new National Training Centre for Women in Penrith. The transition into becoming a full time professional athlete took some adjusting, but Leah seized the opportunity and made it count. She went to sweep rowing and found herself trialling for the coxless four until selectors threw a curve ball and had Leah trialling for the quad scull in the same week. Switching from sweeping to sculling would be a major adjustment for anyone, but Leah remained very positive and backed herself to rely on her strength - being adaptable. Leah’s remarkable ability to row in any boat in any combination got her selected into the Australian Senior A Quad. They won a silver medal in World Cup II and bronze medal at World Cup III. We wish Leah all the best for the World Championships in Sarasota, Florida in September.

As mentioned in the Captain’s report, Leah and Harriet have a unique situation where the two of them share the bow seat of the Australian Quad. Straight after World Cup III, Leah came back home to continue training for the Senior A World Championships while the rest of the crew met Harriet at the European Training Centre in Varese, Italy in the lead up to the Under 23 World Championships in Plovdiv, Bulgaria. It was only two years ago that Leah won a silver medal in this very same event and we all hoped that Harriet could have similar success and amazingly she did. The Aussies stormed home in the final quarter of the race to edge out the Germans for a silver medal. Hopefully one day, Leah and Harriet will race in the same crew for Australia so they can share their success together. For Harriet to make the Under 23 team in her first year out of Juniors is a remarkable feat and one of which we are very proud. Harriet’s success was all due to her hard work throughout the season where she had huge success winning the Under 23 single at the NSW Championships and two

Gold medals at the National Championships in the Open Quad and the U21 Double.

At the National Championships this year, Leah and Harriet raced in the Open Double Scull and won a silver medal together against a very experienced field. They both represented NSW in the Queen’s Cup Eight that placed second to Victoria after leading the race until 500m to go. This was the best result for the NSW Women’s Eight since 2004.

The Club is very proud of these two incredible women. They both show qualities that exemplify the true meaning of a good role model. They take pride in upholding the Sydney Rowing Club ethos in everything they do and put their best foot forward with every challenge that rowing and life throw at them. Congratulations to you both and we look forward to seeing your performances throughout this Olympiad on the road to the 2020 Tokyo Games.

Lachlan Carter

Leah Saunders and Harriet Hudson: Open Women’s Double Scull (Silver Medallists) at the National Championships.

GEOff KNIGHT TROPHY Most Outstanding Lightweight Rower

With the strength of the women’s program building, we have seen a number of talented women succeeding at a very high level including Romola Davenport who this year becomes the second female at SRC to ever win this award. The club has typically had success in lightweight men’s rowing and it’s great to add to that on the women’s side. Romy has been a very successful junior at the club

for several years now and her hard work, dedication and persistence has paid off.

Romy made the Australian Junior Quad in 2016 but was unable to compete at the Junior World Championships due to a rib injury. As hard as that was to take, Romy was determined to persist with her rowing and decided to try her hand at lightweight rowing now that she has moved into the Under 21 category. After several months of rehabilitation and regaining her strength, she started to gain momentum again even as she dropped her body weight down to 59kg. Her first race as a lightweight was at the Small Boats regatta in January where she shot out of the blocks as per her previous tactics but found it difficult to maintain speed in the second half of the race. After that she soon learned how to best manage her weight and how to race under fatigue especially with the stress that weight restrictions have on the body. She came to the NSW Championships very well prepared and took out the U21 lightweight single 8.5sec ahead of second place. The momentum was now flowing and Romy performed brilliantly at the National Championships with a silver medal in the U21 single and a Gold medal in the U21 double with Harriet Hudson. She was also the reserve for the NSW lightweight quad in the interstate regatta. She finished the National regatta with a Bronze medal with Madeleine Farrar in the Club Double.

At the National Selection trials, Romy had another rib scare but still managed to be the number one ranked U21 lightweight single sculler selected for the Australian U21 Team that competes against New Zealand in the Trans Tasman series. Romy competes in the lightweight double as well as a mixed weight Quad and Eight. At this stage of the competition the Aussies are leading the points score for the Rusty Robertson Trophy. The team is yet to head over to New Zealand for the final leg of the series in August this year. Good luck Romy and congratulations on all of your success this season.

Lachlan Carter

9


Champion Men’s Pair of australia: Angus Moore and Josh Hicks.

Champion Men’s Sculler of australia: Spencer Turrin, supported by Hamish Playfair (Silver) and Cameron Girdlestone (Bronze).

PHIL CaYZER aWaRD Most Outstanding Oarsman This year’s award is shared by Spencer Turrin and Josh Hicks.

The 2016-17 rowing season has been one for the club to fondly remember. Amongst the club’s many major performances there are a handful of athletes who had truly remarkable performances and both Spencer and Josh lead this group. Besides the fact that both are members of Australia’s priority sweep boat, the men’s coxless four for the 2017 World Rowing Championships taking place in late September, these rowers were also separate winners of different boat categories at the National Championships.

If there was a performance of the year award at the club or in Australia for that matter it would probably go to Spencer for his outstanding win in the single scull at the National Championships. Following that race was a sight to behold as Spencer turned the screws on the opposition through the middle of the course to win quite comfortably and claim his first single sculls national title, the first for the club for some time. The “Do it for Dungog!” calls from the bank certainly left a telling impression on Spencer.

Josh, on the other hand paired up with Gus Moore in the men’s pair to claim his first national title in that event, proving that this combination’s success in the 2016 national selection process and rowing season, which was unfortunately brought to a halt when Gus got glandular fever at the NSW Small Boats Regatta, was no fluke.

These two performances which showed considerable strength and determination surely paved the way for their inclusion in the Rowing Australia Men’s coxless four. This four stepped up to the plate at World Cup 2 in Poznan, Poland in May, winning the men’s coxless four ahead of long term rivals Great Britain. This result was a catalyst for confidence, and in Lucerne in World Cup 3 they were included in the Australian men’s eight which took on Olympic Champions Germany in a monumental hard-fought battle, won by the World Best Time holding Germans in a thrilling finish on the line.

This proves the worth of our leading club oarsmen on the world stage and we trust they will once again prove that they are the leading rowers in world rowing at the World Championships in Sarasota, USA in September. Both of these men never shy from competition and in doing so they’ve produced stellar performances for their club at both the NSW and National Championships this season.

Donovan Cech

10


SRC Winning the Champion Men’s Eight of NSW

Erik Horrie, Australian Representative in AS Men’s Single Sculls at 2017 World Rowing Championships.

Champion Men’s Eight of NSW: Alex Lloyd, Chris Morgan, Charlie Patterson, Josh Hicks, Kendall Brodie, Nathan Bowden, Angus Moore, Spencer Turrin, Ed White.

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W J GOULDING aWaRD Most Improved Rower

Coming off the back of a successful Head of the River winning season in the Shore 2nd VIII, Lachlan ‘Stevo’ Stevenson set his sights on trialling for the National Junior Team. A strong performance in the single scull at the National Championships, where Lachlan placed fourth set him up well for a good performance at the trials. After multiple days of trialling and seat racing Lachlan was triumphant and was selected in the National Junior Quad. Gaining selection on a National team is testament to Lachlan’s diligence and unwavering commitment. The crew placed third in the B Final in a strong field at the World Junior Championships in Trakai, Lithuania. The club is thrilled with Lachlan’s success this season and delighted to have him as our Most Improved Rower.

Jason Baker

aLf DUVaL TROPHY Most Outstanding Junior

Jackson Kench has been with Sydney Rowing Club for two years now. In this time, he has had great success with the Shore 1st VIII and SRC.

Jackson won consecutive Head of the Rivers in the 1st VIII in 2016 and 2017. His 2016 crew was Champion Schoolboy VIII of Australia. In 2017 the crew raced to a Silver medal at the Nationals.

Jackson’s strong performances in the scull at the National Junior Trials gained him two successive years in the Australian Junior quad. He raced at the World Junior Championships in Rotterdam, 2016 and Trakai, Lithuania in 2017.

Jackson has had a remarkable degree of success, both domestically and internationally which makes him a deserving winner of the 2017 Most Outstanding Junior.

Jason Baker

australian Junior Men’s Quad: Lachlan Stevenson (Shore/SRC), Harry Crouch (Newington/SRC), Jackson Kench (Shore/SRC), Daniel Samus (St Augustines/Mosman).

aWaRD Of MERIT fOR NOVICE ROWINGThis special award is made from time to time to recognise the achievements of an athlete who started the season as a novice.

Tal Lewis started his rowing career in the early part of January 2016 on a sunny Sunday morning at the SRC boatshed after a fellow student and SRC compatriot Benedict Brenner convinced him to give it a crack. This was under the tutelage of then captain Paul Coates, who told me at the

time that “this kids gonna be pretty good brother”. In his second session, I had the opportunity to take him out in a single and what most impressed me was his nous for picking up major technical aspects of rowing in a very short time, as well as his unwavering ability to commit to the work without hesitation or question. He also loves to train in the single, citing that it keeps him honest and constantly competitive, having “fun” in the process.

As the months rolled on he was still one of the familiar faces always turning up wanting to learn and work hard, making him the ideal athlete to coach. Of late he was selected into our junior quad to go to the state championships and had a strong showing at the CHS regatta, combining with Ben Brenner to win the Men’s Pair event and placed strongly in the Single Scull. These are all promising signs for a rower with another year of juniors to complete, and recently, under the watchful eye of Coach Carter, Tal set a new world record for 5k on the ski erg to keep his motivation levels sky high and help him continue to strive and compete hard in this upcoming season.

With his dedication to hard work and attention to detail, I have no doubt Tal is soon to have a fruitful season 2017-18, with his enthusiasm and colourful personality playing a huge role in not only his success, but the upbeat and positive mood he brings with him!!

Sean Madeley

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MICHaEL MORGaN TROPHY Most Significant Contribution by an Honorary Coach

Sean Madeley is again the winner of this award after last year sharing the award with Luke Stait.

Sean continued the work of last season, making a major contribution to the junior program under the guidance of Paul Coates.

Sean began his rowing in the club’s junior program, and his crew won the Special Award of Merit for Novice Rowing in

2010. Sean went on to achieve much success as an oarsman, racing at every opportunity, and winning the award for the Most Outstanding Junior in 2012 and the John Hackett Trophy for the leading point scorer in the season in 2011 and 2012 seasons. He rowed in the club’s Under 21 eight in 2012 and was the reserve in the Australian Junior team in the same year. Sean participated in the National Talent ID tour of New Zealand in 2012, rowing in the men’s quad, and in 2013 competed in the NSW team in the Youth Olympics. At the National Regatta in 2014 Sean rowed in the winning crews in the Under 21 Men’s Quad and the Under 23 Coxed Four.

Since turning his hand to coaching Sean has made rapid progress, drawing on his extensive experience and utilising his knowledge gained through his studies in Exercise and Sport Science completed last year.

Since the end of the season Sean has focussed on assisting the emerging juniors in their transition to the next phase of their rowing. We wish Sean continued success with his coaching.

BILL aNDREWS aWaRD Highest Point Score for a Masters Rower in the Rowing NSW Season

Noni Martin has been the most outstanding of our Masters Rowers this season taking out the point score convincingly. With a background in horse riding and cross-country skiing, Noni decided to start rowing as Rick Martin (Noni’s husband) had returned to the sport of rowing. With balance and great posture, along with her quietly determined spirit, Noni has enjoyed a stellar season!

Along with natural talent, her willingness to learn and improve made her a ‘perfect student’. Noni flourished under the expert coaching from Ken Ambler. Ken spent many hours rowing from Clontarf to Roseville Bridge or Hen and Chicken Bay always giving invaluable points and tips. Under such wonderful eyes, Noni decided to enter every single race throughout the season even competing in horrendous heat. Undefe ated until NSW State Masters where Noni lead the whole race only to be beaten by 0.4 seconds by former lightweight world champion, Adair Ferguson. This was an amazing race to watch, an achievement and highlight indeed.

Throughout the season Noni was a valuable crew member in the Women’s G4X (stroke), Women’s F2X, mixed F4X and mixed F2X with Rick, winning medals in all categories. Noni also entered in a SA and NSW mixed 8+ crew for the Head of the Yarra placing 4th.

Another huge achievement was a victory in the F1X at the National Masters held on Nagambie Lakes. In the horrendous conditions and almost suffering hypothermia, Noni was a clear winner.

Noni was selected in the NSW D4X crew to race at the National Masters Regatta. This required a huge commitment travelling from the Northern Beaches to the Cooks River twice a week.

Noni relished the challenge and the crew managed a bronze medal.

Noni’s humility, focus, talent and a delightful personality makes her a deserved winner of the point score and as a rower an invaluable member of the SRC Masters contingent.

Scott Turner

fRaNK HIDDEN aWaRD for Service to the Club

Not enough can be said about the contributions that Gavin Parcsi has made to Sydney Rowing Club since he joined the club in 2014. His endless hours coaching juniors on Sundays, repairing Rowperfect machines, fixing and rigging boats and loading trailers have all been greatly appreciated. Gavin is studying and practicing medicine and has little spare time on his hands. Yet somehow, he

manages to find the time away from his studies to tidy the gym and boatshed and pay attention to detail as every oar is placed back on the wall in colour coded order. Gavin has been based in Dubbo for his fourth and final year of medicine and has been there since the beginning of the year but this hasn’t stopped him from helping out in big ways. He drove five hours from Dubbo one weekend just to prepare and cook food for 100 people at this year’s Henley Fundraiser by the foreshore and did a fantastic job. All that was left at the end were 100 very satisfied people with dozens of stripped BBQ skewers on their plates.

Thanks once again Gavin for your continued support of this great club and congratulations on being our Frank Hidden Award winner. All the best for the rest of your exams. We are very much looking forward to having you back in Abbotsford by the bay later this year to help Coach Carter polish a few more boats.

Lachlan Carter

R J DaLEY aWaRD Highest Point Score for a Coxswain

Scott Trayhurn has contributed to Sydney Rowing Club’s competitive program at many levels over the past four years and has enjoyed considerable success in club competition.

His regular ride is the men’s masters eight in which Scott played a key role, both as a coxswain and as a coach. His considerable coaching capability and good judgement, combined with a rare ability to understand

what is needed for fast rowing, bring the best out of his crews, most particularly in close racing situations.

Scott is of the same calibre as many of our club’s great coxswains and is a worthy recipient of the R.J. Daley award.

Stephen Handley

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JOHN HACKETT TROPHY Most Points in the Rowing NSW Season

In addition to winning the award for Novice rowing, Tal Lewis had a clear-cut win in the John Hackett Trophy for the most points in the season.

During the season, Tal competed in 25 races, winning nine of these, and winning 85 points for the club. Next in the points table were Ben Brenner with 69 points and Sara McDonald with 60 points.

Congratulations Tal on your consistent performance over the season.

GEORGE SCHNELLER AWARD Service to the Club

This year’s George Schneller Award goes to Chris Morgan. Considering the successful season that Chris had on the water in 2016, which included Australian Olympic Selection for Rio in the Men’s Double Scull, it is hard to believe that he would have had the time or energy to put into the club, but he truly did. Chris has managed to back up his 2016 Frank Hidden Service to the Club award with another service award. Morgs has continued to find avenues to make an impact within the membership of the club. The culture of not shying away from competition is one which Chris leads on the water and his mentorship off the water is acknowledged by many of our junior and youth athletes as an invaluable resource to tap into. From words of encouragement whilst biking the roads of Perisher to strategic banter over a beer post Gold Cup win, from technical correction mid-lift in the gym to crew preparation pre-competition, Chris adds value to the program is some way or form.

The old adage of “Ask not what the club can do for you, but rather what you can do for the club!” stands firm with Chris, we trust that our young rowers can follow suit.

Donovan Cech

Women’s Quad, Bronze Medallists at the NSW Championships: Harriet Hudson, Emily Partridge, Susie Dear, Candice Williams.

DRUMMOYNE ROTARY CLUBCommunity Spirit AwardThe Drummoyne Rotary Club Community Spirit Award recognises the worthy example set by a rower who has fostered the objectives of SRC by exhibiting the qualities of ideals of service to fellow club members and encouraging and fostering a sense of community spirit within the club environment.Jack Quinn has completed his first season with the club after previously rowing in New Zealand. His season started quietly due to injury but he was subsequently successful in gaining selection into the club’s team for Henley Royal Regatta.Jack is noted for his willingness to shoulder responsibility wherever possible. He is always the first to volunteer where assistance is needed. He made a valuable contribution to the fundraising effort for the Henley team.Thanks Jack for your efforts this year.

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Champion Club Women’s Eight of australia: Lara Campbell, Brianna Caputo, Madison Brown, Maddy Farrar, Candice Williams, Tessa Mapplebeck, Emily Partridge, Susie Dear, Millicent Cheetham.

Club Men’s Eight, Silver Medallists at the australian Championships: Jake Brighton, Nick Clifton, Dylan Boakes, Jack Quinn, Max Brenner, Pippy Wiseman, Will O’Connell, Clinton Boltman, Matt Gertenbach. Photo: Scott Patterson

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Champion Club Women’s four of australia: Susie Dear, Emily Partridge, Tessa Mapplebeck, Candice Williams.

Club Men’s four, Silver Medallists at the australian Championships: Nick Clifton, Will O’Connell, Clinton Boltman, Matt Gertenbach.

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FINANCE DIRECTOR’S REPORTIt is my pleasure to report that for the 2017 financial year the club achieved a net operating surplus of $224,399 ($408,391 in 2016). The trading result reflects the continued commitment by the Board, Management, and staff to provide facilities which our members and their guests can enjoy. This has in turn enabled the club to be in a strong and stable financial position to

this this year invest in extensive capital purchases and repairs and maintenance through cash reserves to improve members facilities.The club’s gross revenue for the year was $5,524,313 ($5,575,527 in 2016). Gross Bar and Gaming revenues remained strong. Surpluses were achieved for Bar and Gaming during the year of $1,118,783 ($1,123,291 in 2016) and $545,108 ($565,232 in 2016) respectively. Expenses relating to the club house operations totalled $1,740,518, an increase of $81,085 from 2016. Record bar trading from the extension to the Lounge Bar in November was offset by declines in bar sales in the new dining facility, The Smoking Goat. Current work on the dining facilities within the club is

likely to see significant benefits to the Club and its members in the coming financial year. Gaming revenues remained at strong levels after subsequent years of pleasing growth. Administration expenses increased by 4%. Club House and Grounds expenses increased by 7% as a result of increased depreciation costs associated with the continued refurbishment of the bar and dining facilities within the club house, and the purchases of gaming machines and a new pontoon. The operating surplus for the year includes a depreciation charge of $510,348. This charge relates to the club’s buildings, plant and equipment and fleet.On a cash flow basis, the club generated from its operating activities $768,741 after interest of $3,972. The cash held by the club at year end totalled $519,640. This strong financial position has enabled the club to fund through cash flow the extension of the Lounge bar, the purchase of a new pontoon, increases to the fleet, and substantial repairs and maintenance work to the boatshed.I take this opportunity to thank the club’s staff for all their efforts during the year, and the members for their patronage which has enabled the club to achieve the results this year.

Scott TurnerFinance Director

2017 2016 2015 2014 2013

$ $ $ $ $

Gross Revenue 5,524,313 5,575,527 5,387,536 5,294,408 5,402,746 ___________________________________________________________

Income Contribution

Bar 1,118,783 1,123,291 1,207,407 1,263,417 1,175,937

Poker Machines 545,108 565,232 540,290 498,851 655,809

Catering 665,877 634,334 635,714 613,647 585,076

Interest Received 3,441 5,378 8,780 8,683 13,305

Keno 9,970 14,713 16,901 14,196 17,056

Other Income 38,139 41,606 44,793 67,542 78,965 ___________________________________________________________

2,381,318 2,384,554 2,453,885 2,466,336 2,526,148 ___________________________________________________________

Expenses applicable to above 1,740,518 1,659,433 1,666,665 1,707,811 1,736,262 ___________________________________________________________

Surplus/(Deficit) from Club House operations 640,800 725,121 787,220 758,525 789,886

Subscriptions 317,722 329,568 280,338 288,330 237,177

Donations and sponsorship 0 0 2,500 5,000 9,455 ___________________________________________________________

Surplus/(Deficit) from Club House Operations and Non-operating Income 958,522 1,054,689 1,070,058 1,051,855 1,036,518

Less: Rowing expenses 734,971 642,675 636,569 641,145 563,220

Add: Net income from

Events and Fundraising 848 (3,623) (8,918) (5,557) 5,442

Operating Surplus/(Loss) 224,399 408,391 424,571 405,153 478,740 ___________________________________________________________ ___________________________________________________________

2017 INCOME CONTRIBUTION

Catering 27% Catering 9%

Bar 48%

Bar 20%

Gaming 25%Gaming 71%

2006 INCOME CONTRIBUTION

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Sydney Rowing Club LimitedABN 12 000 995 746

Directors

Your directors present their report on the company for the financial year ended 30 June 2017. The names of the directors in office at any time during the financial year, or since the end of the year are:

K. E. Jameson (appointed 01/05/1979)

S. Handley (appointed 19/09/2004)

M. Morgan (appointed 17/09/2006)

D. Sollom (appointed 17/06/2006)

S. Turner (appointed 23/09/2007)

P. D. Coates (retired 22/05/2017)

K. Liljeqvist (appointed 29/09/2013)

T. Gerrand (retired 25/09/2016)

K. Brodie (appointed 20/09/2015)

S. Thiebe (appointed 08/04/2016)

S. Nola (appointed 29/05/2017)

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

Company Secretary

The following person held the position of company secretary at the end of the financial year: Peter Grosvenor was appointed secretary on 20 April 2009. Peter has worked in the hospitality industry for over 30 years with the last 22 years in the club industry.

Principal Activities

The principal activity of Sydney Rowing Club Limited is to promote the sport of rowing and provide members and their guests with the amenities and facilities usually associated with a sporting club. No significant changes in the nature of these activities have occurred during the year.

The entity’s short-term objectives are:

- To expand the number of members competing in the sport and to aim for the highest standards of performance.

- To provide a high level of club house services that meet the needs of the local community.

The entity’s long term objectives are:

- To promote the sport of rowing.

- To provide for members and guests a social and sporting club with all the usual facilities of a registered club.

To achieve these objectives the entity has adopted the following strategies;

- The club has identified a range of programs that match the requirements of the active rowing members, and endeavors to provide the necessary level of equipment, coaching and support to the members to permit them to be successful at the highest possible level.

- The club attracts and retains quality staff who are committed to providing quality service to the members. - The club regularly reviews the club’s facilities, customer needs and industry trends, to ensure the registered club meets the needs of members and the local community.

Operating Results

The net surplus of Sydney Rowing Club Limited amounted to $1,569,626 (2016: $408,391). This included a gain on revaluation of land and buildings of $1,345,227 (2016: $nil).

Key Performance Measures

The company measures its own performance through the use of both quantitative and qualitative benchmarks. The benchmarks are used by the directors to assess the financial sustainability of the company and whether the company’s short-term and long-term objectives are being achieved.

DiReCTORS’ RePORTFOR The yeAR enDeD 30 June 2017

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2017 2016

Actual Benchmark Actual Benchmark

Members

Number of members 13,942 14,000 14,321 14,000

Number of rowing members competing 147 130 130 125

Staff

Number of supervisory and management staff involved in industry training 5 5 5 5

Turnover of supervisory and management staff 30% 15% 22% 15%

Operational and financial

Annual Financial Indicators:Total net profit $224,399 $325,262 $408,391 $353,232

Gaming net profit $545,108 $522,062 $565,232 $521,975

Beverage net profit $1,118,783 $1,208,642 $1,123,291 $1,238,510

Catering licence revenue $447,483 $446,171 $441,247 $440,445

Membership subscription revenue $317,722 $310,542 $329,568 $281,500

Proportion of funding spent on:Rowing program $734,971 $676,817 $642,675 $671,854

Elite athlete support $52,664 $50,000 $48,856 $50,000

Staff training $3,651 $11,200 $6,024 $10,200

information on Directors

Director Office holdings Occupation Qualification and experience

K. E. Jameson President Retired BA (Accounting) CPA, member since 1962, director since 1979, member of the Building, Finance and Regatta committees.

S. Handley Vice President Company Director Background in banking and electronics engineering, member since 1970, director since 2004, member of the Finance and Regatta Committees, school and club coach since 1979.

M. Morgan Vice President Retired Teacher for 25 years, and professional rowing coach, member since 1964 and director since 2006.

DiReCTORS’ RePORT (COnTinueD)FOR The yeAR enDeD 30 June 2017

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Director Office holdings Occupation Qualification and experience

D. Sollom Director Company Director Member since 1957, Honorary Treasurer 1981 to 1988, director since 2007, member of the Finance and Building committees.

S. Turner Finance Director Chartered Accountant Bachelor of Business, member since 1980, director since 2007, member of the Finance Committee.

P. D. Coates Captain Sports Administrator Member since 1996 and a member of the Regatta

and Rowing Coach Committee.

K. Liljeqvist Director Accountant B. Bus (Land Economy) Grad. Dip. Accounting, CPA. Member since 1997, member of the Finance Committee.

T. Gerrand Director Strategic Sales Bachelor of Arts (Economics)

Leadership Graduate at Coca-Cola Amatil, Member of the Rowing Australia Athletes Commission, member since 2010

K. Brodie Vice Captain Graphic Designer Bachelor of Arts (Design) at the University of NSW.

S. Thiebe Director Engineer Engineering degree in Interior Architecture. Extensive board experience, founding member of Deutschstunde a German Language School; founding member of the Industry representation for Professional Organisers, past P&C president at her local primary school. Currently runs her own business helping people de-clutter and organise their spaces.

S. Nola Captain Compliance Manager BA, member since 2001, director from 2004-2009.

Meetings of Directors

During the financial year, 22 meetings of directors were held. Attendances by each director during the year were as follows:

K. E. Jameson 21 P. D. Coates 10*

S. Handley 21 K. Liljeqvist 20

M. Morgan 18 T. Gerrand 5*

D. Sollom 20 S. Thiebe 20

S. Turner 20 K. Brodie 13

S. Nola 2^

* retired in the year.

^ appointed in the year.

The entity is incorporated under the Corporation Act 2001 and is an entity limited by guarantee. If the entity is wound up, the constitution states that each member is required to contribute a maximum of $2 each towards meeting any outstanding obligations of the entity. At 30 June 2017, the total amount that members of the company are liable to contribute if the company is wound up is $27,884 (2016: $28,642).


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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.

Auditor’s independence Declaration

A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out at page 21.

This report is signed in accordance with a resolution of the Board of Directors:

K.e. Jameson S. Turner Director Director

Dated this 31st day of July 2017

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The accompanying notes form part of the financial statements

note 2017 2016

$ $

Revenue 2 5,524,313 5,579,618

Cost of sales 3 (834,695) (873,341) __________ __________

Gross operating surplus 4,689,618 4,706,277

Other income 2 62,430 70,805

Clubhouse expenses (1,046,533) (979,182)

Rowing expenses (734,971) (642,670)

Bar expenses (1,302,100) (1,323,644)

Poker machine expenses (685,771) (678,860)

Keno expenses (4,775) (4,725)

Administration expenses (675,057) (665,409)

Borrowing costs 3 (28,444) (24,394)

Other expenses (49,998) (49,807) __________ __________

Surplus for the year attributable to members 224,399 408,391

Other comprehensive income for the year

Gain on revaluation of land and buildings 1,345,227 - __________ __________

Total comprehensive income for the year attributable to members 1,569,626 408,391 ____________ ____________

STATeMenT OF PROFiT AnD LOSS AnD COMPRehenSive inCOMeFOR The yeAR enDeD 30 June 2017

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note 2017 2016

$ $

ASSeTS

Current assets

Cash and cash equivalents 5 519,640 422,444

Trade and other receivables 6 157,532 251,999

Inventories 100,151 89,752 __________ __________Total current assets 777,323 764,195 __________ __________

non-current assets

Property, plant and equipment 7 12,362,204 10,855,150

Intangibles 9,168 6,065

Work in progress 117,585 98,364 __________ __________Total non-current assets 12,488,957 10,959,579 __________ __________TOTAL ASSeTS 13,266,280 11,723,774 __________ __________

LiABiLiTieS

Current liabilities

Trade and other payables 8 365,806 394,440

Interest bearing liabilities 10 - 100,000

Provisions 9 204,570 220,225

Income in advance 8 263,132 257,886 __________ __________Total current liabilities 833,508 972,551 __________ __________

non-current liabilities

Interest bearing liabilities 10 100,000 -

Provisions 9 52,525 40,602 __________ __________Total non-current liabilities 152,525 40,602 __________ __________TOTAL LiABiLiTieS 986,033 1,013,153 __________ __________

neT ASSeTS 12,280,247 10,710,621 __________ __________

eQuiTy

Reserves 11 6,739,824 5,394,597

Retained earnings 5,540,423 5,316,024 __________ __________

TOTAL eQuiTy 12,280,247 10,710,621 ____________ ____________

STATeMenT OF FinAnCiAL POSiTiOnAS AT 30 June 2017

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Asset note Retained Revaluation earnings Reserve Total $ $ $

Balance at 1 July 2016 5,316,024 5,394,597 10,710,621

Surplus for the year 224,399 - 224,399

Other comprehensive income for the year 11 - 1,345,227 1,345,227 ______________________________________________

Total comprehensive income for the year 224,399 1,345,227 1,569,626 ______________________________________________

Balance as at 30 June 2017 5,540,423 6,739,824 12,280,247 _________________________________________________________ _________________________________________________________

Balance at 1 July 2015 4,907,633 5,394,597 10,302,230

Surplus for the year 408,391 - 408,391

Other comprehensive income for the year 11 - - - ______________________________________________

Total comprehensive income for the year 408,391 - 408,391 ______________________________________________

Balance as at 30 June 2016 5,316,024 5,394,597 10,710,621 _________________________________________________________ ______________________________________________


STATeMenT OF ChAnGeS in eQuiTyFOR The yeAR enDeD 30 June 2017

STATeMenT OF CASh FLOWFOR The yeAR enDeD 30 June 2017

note 2017 2016

$ $

Cash flows from operating activities

Receipts from customers 6,255,897 5,962,350

Payments to suppliers and employees (5,505,502) (5,172,587)

Interest received 2 22,318 26,271

Interest paid 3 (3,972) (8,732) __________ __________net cash from operating activities 12 768,741 807,302 __________ __________

Cash flows from investing activities

Acquisition of plant and equipment and WIP (691,397) (669,383)

Acquisition of intangible assets (5,520) (6,065)

Proceeds from sale of plant and equipment 2 25,372 35,484 __________ __________net cash used in investing activities (671,545) (639,964) __________ __________

Cash flows from financing activities

Repayment of borrowings 10 - (100,000)

Repayment of finance lease commitments 10 - (9,824) __________ __________net cash used in financing activities - (109,824) __________ __________

net increase in cash held 97,196 57,514

Cash and cash equivalents at beginning of year 422,444 364,930 __________ __________Cash and cash equivalents at end of financial year 5 519,640 422,444

25


nOTe 1 STATeMenT OF SiGniFiCAnT ACCOunTinG POLiCieS

The financial statements are for Sydney Rowing Club Limited as an individual entity (the company). Sydney Rowing Club Limited is a company limited by guarantee, incorporated and domiciled in Australia. The company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards. The presentation currency is Australian dollars.

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

new or amended Accounting Standards and interpretations adopted

The company has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (‘AASB’) that are mandatory for the current reporting period.

Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Basis of Preparation

These general purpose financial statements have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements and Interpretations issued by the Australian Accounting Standards Board (‘AASB’) and the Corporations Act 2001, as appropriate for not-for-profit oriented entities.

The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial statements have been rounded to the nearest dollar.

The directors have the power to amend and revise the financial statements. The financial statements were authorised for issue on 31 July 2017 by the directors of the company.

(a) income Tax

No provision for income tax has been raised as the company is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.

(b) Leases

Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership, are transferred to the company are classified as finance leases.

Finance leases are capitalised, recording an asset and a liability to the present value of the minimum lease payments, including any guaranteed residual values.

Leased assets are depreciated on a straight-line basis over their estimated useful lives where it is likely that the company will obtain ownership of the asset. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight line basis over the lease term.

(c) Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the statement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to, the ATO are presented as operating cash flows included in receipts from customers or payments to suppliers.

(d) Critical accounting estimates and judgements

The preparation of the financial statements requires the use of certain accounting estimates. It also requirements management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgment or complexity are detailed below.

The directors evaluate estimates and judgments incorporated into the financial statement based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company. The resulting accounting judgments and estimates will seldom equal the actual results.

ValuationThe Company’s freehold land and building were independently valued at 6 July 2017 by Preston Rowe Paterson. The valuation was based on the fair value using the value per square metre of land and the current replacement costs. The

nOTeS TO The FinAnCiAL STATeMenTSFOR The yeAR enDeD 30 June 2017

26


critical assumptions adopted in determining the valuation included the location of the land and buildings, the current strong demand for land and buildings in the area and recent sales data for similar properties.

DepreciationThe company determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down.

Employee benefits provisionThe liability for employee benefits expected to be settled more than 12 months from the reporting date are recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at the reporting date. In determining the present value of the liability, estimates of attrition rates and pay increases through promotion and inflation have been taken into account.

2017 2016

$ $

nOTe 2 Revenue AnD OTheR inCOMe

Revenue

Revenue from club operations:

Bar sales 3,246,359 3,309,204

Poker machine revenue 1,230,879 1,244,092

Mercery sales 7,246 4,048

Keno commission 14,745 19,438

Catering fee and function income 665,877 638,425

Membership subscriptions 317,722 329,568

Fundraising income 41,485 34,843 __________ __________Total revenue 5,524,313 5,579,618 ____________ ____________

Other income

Interest 22,318 26,271

Net gain on disposal of plant and equipment 25,372 35,484

Other 14,740 9,050 __________ __________Total other income 62,430 70,805

Accounting PolicyRevenue is recognised when it is probable that the economic benefit will flow to the company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

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

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

Revenue from gaming activities is recognised net of winnings paid out to the customers.

Membership subscriptions run from 1 July to 30 June. Only those membership subscriptions that are attributable to the current financial year are brought to account as income. Subscriptions relating to periods beyond the current financial year are shown in the statement of financial position as income in advance. Life time members one-off subscription is recognised in the year received.

Donations and bequests are recognised as revenue when received.

Interest revenue is recognised using the effective interest rate method, which for floating rate financial rates is the rate inherent in the investment.

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

nOTeS TO The FinAnCiAL STATeMenTS (COnTinueD)FOR The yeAR enDeD 30 June 2017

27


2017 2016

$ $

nOTe 3 eXPenSeS

Other bank charges 24,472 15,662

Interest paid – non related parties 3,972 8,732 __________ __________Total borrowing cost 28,444 24,394 ____________ ____________Superannuation – defined contributions 168,269 166,183

nOTe 4 AuDiTOR’S ReMuneRATiOn

Remuneration of the auditor for:

Auditing the financial statement 26,900 26,200

Other assurance services 4,350 4,260 __________ __________Total auditor’s remuneration 31,250 30,460

nOTe 5 CASh AnD CASh eQuivALenTS

Cash at bank and on hand 221,124 211,190

Short term bank deposits 298,516 205,172 __________ __________Total cash and cash equivalents 519,640 422,444

Accounting PolicyCash and cash equivalents include cash on hand, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less, and bank overdrafts.

nOTe 6 TRADe ReCeivABLeS AnD OTheR ASSeTS

CuRRenT

Trade receivables 57,271 140,212

Prepayments 93,833 109,366

Other debtors 6,428 2,421 __________ __________ 157,532 251,999

Less: prepayments (93,833) (109,366) __________ __________Financial asset (refer to note 15) 63,699 142,633

Accounting PolicyReceivables are recognised at amortised costs, less any provision for impairment.

Provision for impairment of receivablesCurrent trade receivables are generally on 30-day terms. These receivables are assessed for recoverability and a provision for impairment is recognised when there is objective evidence that an individual trade receivable is impaired. These amounts have been included in other expense items. Whilst $1,057 (2016: $6,860) is older than 90 days, there is no provision for impairment as at 30 June 2017 (2016: Nil).


28


2017 2016

$ $

nOTe 7 PROPeRTy, PLAnT AnD eQuiPMenT

Land and Building – Core Property

Land and building – at fair value 10,670,000 9,100,000

Additions - 283,252 __________ __________ 10,670,000 9,383,252

Less: accumulated depreciation (375,869) (240,256)

Reversal of accumulated depreciation – fair value adjustment 375,869 __________ __________ 10,670,000 9,142,996

Plant and equipment

Plant and equipment – at cost 4,131,945 3,915,027

Less: accumulated depreciation (2,565,200) (2,345,533) __________ __________ 1,566,745 1,569,494

Leased Assets

Capitalised leased plant and equipment 550,337 789,189

Less: accumulated depreciation (424,878) (646,529) __________ __________ 125,459 142,660 __________ __________Total property, plant and equipment 12,362,204 10,855,150 ____________ ____________

Movements in carrying amounts

Land and Plant and Leased Plant Buildings equipment & equipment Total

$ $ $ $

Balance at the beginning of the year 9,142,996 1,569,494 142,660 10,855,150

Additions 317,390 364,030 - 681,420

Disposals - (125,178) (238,852) (364,030)

Gain on revaluation of land and buildings 1,345,227 - - 1,345,227

Depreciation expense (135,613) (360,528) (14,207) (510,348)

Depreciation recovered on disposal - 118,927 235,858 354,785 __________________________________________________________Balance at the end of the year 10,670,000 1,566,745 125,459 12,362,204 ________________________________________________________________________


29


Accounting PolicyPropertyFreehold land and buildings are shown at their fair value, based on periodic valuations by external independent valuers, less subsequent depreciation for buildings. It is the policy of the Company to have an independent valuation every three years, with annual appraisals being made by the directors.

Increases in the carrying amount arising on revaluation of land and buildings are recognised in other comprehensive income and accumulated in the revaluation surplus in equity. Decreases that offset previous increases of the same classes of assets shall be recognised in other comprehensive income under the heading revaluation surplus. All other decreases are charged to the statement of profit or loss and other comprehensive income. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.

Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Plant and equipmentPlant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

The residual values, useful lives and depreciation methods are reviewed by the directors, and adjusted if appropriate, at each reporting date. An assets value is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

An item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the Company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income.

DepreciationDepreciation is calculated to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows:

Class of fixed asset Depreciation rate Depreciation method

Buildings 2% Straight line

Plant and equipment 5% - 40% Diminishing value and straight line

ValuationThe basis of the valuation of land and building is fair value and any additions to the building since the last valuation is valued at cost (see above note on page 16 for the split). Land and buildings are independently revalued every three years. Values are based on an active market value or depreciated replacement value and are performed by a registered independent valuer. The valuation was performed on 6 July 2017 by Preston Rowe Paterson Pty Limited. The valuation of the land and building was for $10,670,000, split as $5,744,130 for land and $4,927,268 for the building.

The fair value increase has been recorded through the statement of comprehensive income.

Fair value measurementWhen an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principle market; or in the absence of a principal market, in the most advantageous market.

Fair value hierarchyAASB 13 requires fair value measurement to be recognised using the following fair value measurement hierarchy:

• Level1:Quotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities

• Level2:Inputsotherthanquotepricesincludedwithinlevel1thatareobservablefortheassetorliabilityeitherdirectly or indirectly

• Level3:Unobservableinputsforassetsandliabilities


30


The following table presents the Company’s assets measured and recognised at fair value at 30 June 2017.

There are no liabilities recorded in the table below as no liabilities are recognised at fair value.

Level 1 Level 2 Level 3 Total

$ $ $ $

At 30 June 2017

Land and buildings - - 10,670,000 10,670,000 __________________________________________________________

At 30 June 2016

Land and buildings - - 9,100,000 9,100,000 __________________________________________________________

There were no transfers between levels during the financial year.

valuation techniques used to derive level 2 and level 3 fair values

i) Recurring fair value measurements The fair value of the land and building is determined using valuation techniques assuming that it is not traded in an

active market. The valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an asset are observable then it is included in level 2. If one of more of the significant inputs is not based on observable market date, the asset is included in level 3.

Fair value measurements using significant unobservable inputs (level 3)

The following table summarises the quantitative information about the significant unobservable inputs used in level 3 fair value measurements:

Description Fair value unobservable Rating on input Relationship of at 30 June 2017 inputs (probability unobservable weighted average) input to fair value

Land $5,744,130 Estimated value $375 to $1,143 per Zoning of “private persquaremetres SQM recreationalarea”

Discount rate 26% to 46% The higher the discount rate, the lower the fair value.

Building $4,927,268 Estimated current $10,875,900 The higher the replacement costs estimated costs the lower the fair value.

Discount rate 30% to 90% The higher the discount rate, the lower the fair value.

i) Valuation process in a year when no external valuation is performed During the period between independent valuation reports, the directors review the carrying amount of the

land and building, the market conditions, the current and future capital expenditure, together with the latest independent valuation to determine whether the value recorded is appropriate. Additionally, the directors assess whether there are any indications of impairment.


31


2017 2016

$ $

nOTe 8 TRADe AnD OTheR PAyABLeS

CuRRenT

Trade payables 119,703 221,700

GST clearing account 76,745 61,627

Accruals 107,094 58,516

PAYG withholding 35,141 33,978

Other creditors 27,123 18,619 __________ __________ 365,806 394,440 ____________ ____________

Member subscriptions in advance 263,132 257,886

Accounting PolicyTrade and other payables represent the liabilities for goods and services received by the company during the reporting period that remain unpaid at the end of the reporting period. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

Member subscriptions in advance relate to subscriptions received from members as at 30 June 2017, for services that will be delivered in future financial years. These amounts are deferred to the period in which the income relates.

nOTe 9 PROviSiOnS

CuRRenT

Provision for employee benefits: annual leave 153,499 172,527

Provision for employee benefits: long service leave 51,071 47,698 __________ __________ 204,570 220,225 ____________ ____________nOn CuRRenT

Provision for employee benefits: long service leave 52,525 40,602 __________ __________Total employee benefits 257,095 260,827 ____________ ____________

Accounting Policy

Short-term employee benefitsLiabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled.

Other long-term employee benefitsThe liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.


32


2017 2016

$ $

nOTe 10 inTeReST BeARinG LiABiLiTieS

CuRRenT

Mortgage loan - 100,000

nOn CuRRenT

Mortgage loan 100,000 - __________ __________Total interest bearing liabilities 100,000 100,000 ____________ ____________

Accounting PolicyThe company has a mortgage loan agreement with a bank. The mortgage loan has a limit of $1,700,000 and matures on 30 June 2020. The loan is secured by all assets of the company.

Loans and borrowings are initially recognised at the fair value of the consideration received, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Where there is an unconditional right to defer settlement of the liability for at least 12 months after the reporting date, the loans or borrowings are classified as non-current.

nOTe 11 ReSeRveS

Opening balance 5,394,597 5,394,597

Asset revaluation – other comprehensive income 1,345,227 - __________ __________Closing balance 6,739,824 5,394,597 ____________ ____________

The asset revaluation reserve records the revaluation of non-current assets and this has been disclosed in changes of equity and recorded in other comprehensive income.

nOTe 12 CASh FLOW inFORMATiOn

Reconciliation of cash flows from operations with surplus

Net surplus for the year 224,399 408,391 __________ __________Non cash flows:

- Depreciation 512,765 455,541

- Net loss/(gain) on disposal of property, plant and equipment (25,372) (35,484)

Changes in assets and liabilities:

- (Increase)/decrease in trade and other receivables 94,465 (72,768)

- (Increase)/decrease in inventories (10,398) (38,836)

- Increase/(decrease) in trade and other payables (23,388) 80,720

- Increase/(decrease) in provisions (3,730) 9,738 __________ __________ 768,741 807,302 __________ __________


33


nOTe 13 COMPAny LiMiTeD By GuARAnTee

Sydney Rowing Club Limited is a company limited by guarantee with the liability of members limited to the amount set out in the company’s constitution. The amount of the guarantee is limited to such amount as may be required not exceeding two dollars ($2). The guarantee is not capable of being called up except for the purpose of winding up of the company.

nOTe 14 COnTinGenT LiABiLiTieS AnD ASSeTS

There are no contingent liabilities or contingent assets to report at 30 June 2017 (2016: nil).

nOTe 15 FinAnCiAL RiSK MAnAGeMenT

The company’s financial instruments consist mainly of deposits with banks, accounts receivable and payable, leases, and bank loan.

The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements, are as follows:

note 2017 2016

$ $

Financial assets

Cash and cash equivalents 5 519,640 422,444

Trade and other receivables 6 63,699 142,633 __________ __________Total financial assets 583,339 565,076 __________ __________ __________ __________

Financial liabilities

Financial liabilities at amortised cost:

- Trade and other payables 8 365,806 394,440

- Interest bearing liabilities 10 100,000 100,000 __________ __________Total financial liabilities 465,806 494,440 __________ __________

nOTe 16 OPeRATinG AnD CAPiTAL COMMiTMenTS

a. Leases as lessee

Non-cancellable operating lease rentals are payable as follows:

Payable

Less than one year 18,386 18,161

Between one and five years 73,847 72,643

Greater than five years 281,540 276,950 __________ __________ 373,773 367,754 __________ __________ __________ __________

The operating leases include a non-cancellable lease from NSW Maritime commenced on October 2011 with a 25 year term and rent payable quarterly in advance. Rent reviews occur annually and are based on CPI.

b. Capital commitments

There has been no capital expenditure contracted for at the reporting date but not recognised at the balance sheet date.


34


2017 2016

$ $

nOTe 17 ReLATeD PARTy TRAnSCATiOnS

Transaction with related parties:

Director,KendallBrodie,hasbeenawardedaQLDeloitteScholarship 566 2,342

Director, Susanne Thiebe’s son, Max Brenner, is an athlete whohasbeenawardedaQLDeloitteScholarship. 2,493 1,000

Directors are members of the Sydney Rowing Club Limited and transactions between them and the company are on normal commercial terms, and conditions no more favourable than those available to other parties unless otherwise stated.

No director of the company has received or become entitled to receive a benefit by reason of a contract made by the company or a related corporation with a director or with a firm of which they are members, or with a company in which they have a substantial financial interest.

nOTe 18 Key MAnAGeMenT PeRSOnneL

Total remuneration of key management personnel. 738,529 692,409 __________ __________ __________ __________

nOTe 19 AFTeR BALAnCe SheeT DATe evenTS

There have been no other matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company, the results of those operations, or the state of affairs of the company in future financial years.

nOTe 20 COMPAny DeTAiLS

The registered office of the company is:

Sydney Rowing Club Limited

613 Great North Road

Abbotsford NSW 2046

nOTeS TO The FinAnCiAL STATeMenTS (COnTinueD)FOR yeAR enDeD 30 June 2016

DiReCTORS’ DeCLARATiOnThe directors of the company declare that:

1 The financial statements and notes, as set out on pages 22 to 34, are in accordance with the Corporations Act 2001 and:

(a) comply with Accounting Standards and the Corporations Regulations 2001; and

(b) give a true and fair view of the financial position as at 30 June 2017 and of the performance for the year ended on that date of the Company.

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 report is signed in accordance with a resolution of the Board of Directors:

K. e. JAMeSOn S. TuRneR Director Director

Dated this 31st day of July 2017

35


36


37


38


Schedule 2017 2016

$ $

Surplus on bar trading 1 1,118,783 1,123,291

Net income from poker machines 2 545,108 565,232

Catering and function income 665,877 634,334

Interest received 3,441 5,378

Net income from Keno 9,970 14,713

Other income 38,139 41,606 __________ __________ 2,381,318 2,384,554

Less:

Administration expenses 3 675,057 665,409

Club house and grounds expenses 4 1,046,533 979,182

Dining room expenses 5 9,180 10,739

Financial expenses 6 9,567 3,501

Other expenses 181 602 __________ __________ 1,740,518 1,659,433 __________ __________Surplus from club house operations 640,800 725,121

Add:

Members subscriptions 317,722 329,568

Donations and sponsorship - - __________ __________ 317,722 329,568 __________ __________

Less:

Net rowing expenses 7 (734,971) (642,675) __________ __________

Add / (less):

Net income from events & fundraising 8 848 (3,623) __________ __________

Operating surplus 224,399 408,391 __________ __________

SCheDuLeS TO SuPPORT The STATeMenT OF PROFiT AnD LOSS

39


2017 2016

$ $

SCheDuLe 1. Bar Trading

Sales 3,246,359 3,309,204

Cost of sales (825,476) (862,270) __________ __________Gross surplus 2,420,883 2,446,934 __________ __________expenses

Bar wages and payroll costs 1,253,381 1,277,591

Depreciation 2,218 903

Glass and bar consumables 39,045 35,634

Other 7,456 9,514 __________ __________Total expenses 1,302,100 1,323,643 __________ __________Surplus on bar trading 1,118,783 1,123,291 __________ __________

SCheDuLe 2. Poker Machine Results

Receipts 1,335,046 1,349,603

Less: GST collected (121,347) (122,691) __________ __________ 1,213,699 1,226,912

OLGR rebate income 17,180 17,180 __________ __________Total income 1,230,879 1,244,092

expenses

Depreciation 102,197 69,393

Duty 93,798 97,701

Monitoring 21,353 20,765

Promotions 238,401 225,365

Repairs and maintenance 17,497 15,386

Sundries 26,885 59,262

Wages 185,640 190,988 __________ __________Total expenses 685,771 678,860 __________ __________net income from poker machines 545,108 565,232 __________ __________

SCheDuLe 3. Administration

Accounting, computer and audit fees 76,801 69,318


Consulting and legal expenses 2,456 8,915

Directors expenses 11,089 11,676

Donations 5,089 5,428

Printing, postage and stationery 43,691 55,418


Salaries, wages and payroll costs 433,264 405,395

Sundries 37,220 43,011

Telephone 14,960 16,631

Vehicle costs 8,540 5,836 __________ __________Administration expenses 675,057 665,409 __________ __________


40


2017 2016

$ $

SCheDuLe 4. Club house and Grounds expenses Advertising 6,926 6,801

Cleaning 130,800 131,667


Electricity and gas 142,978 139,469

Entertainment 102,125 102,606

Insurance 44,096 41,091

Leases 18,386 16,932

Promotions 53,090 73,045

Rates 42,045 44,808


Security 100,533 96,027

Sesquicentennial anniversary 25,000 -

Sundries 9,918 (1,674) __________ __________Club house and grounds expenses 1,046,533 979,182 __________ __________

SCheDuLe 5. Dining Room expenses Depreciation 9,180 10,739 __________ __________Dining room expenses 9,180 10,739 __________ __________

SCheDuLe 6. Financial expenses Bank charges 5,595 (5,231)

Interest paid 3,972 8,732 __________ __________Financial expenses 9,567 3,501 __________ __________

SCheDuLe 7. Rowing expenses NSWRA fees and levies 8,832 7,517

Coaching expenses 466,181 426,008


Insurance 17,882 15,686

Training and competition expenses 73,343 80,717

Repairs and maintenance

Boat fleet 14,643 14,518

Boat house 89,400 15,042

Sundries 21,430 20,373

Other 10,076 10,088

Rowing Australia elite club funding (49,473) (35,000) __________ __________net rowing expenses 734,971 642,675 __________ __________

SCheDuLe 8. net income from events and Fundraising Revenue 41,485 34,843

Disbursements to athletes (40,637) (38,466) __________ __________net income from events and fundraising 848 (3,623) __________ __________


41


Champion Men’s Coxed four of australia: Chris Morgan, Will O’Connell, Charlie Patterson, Ed White, George Davis.

Champion Women’s Under 21 Double of australia: Romula Davenport, Harriet Hudson.

SRC Winning the Riverview Gold Cup 2017

Winners of the Riverview Gold Cup 2017: Jason Baker, Lachlan Carter, Don Cech (Coaches), Tom Barnes, Alex Lloyd, Nathan Bowden, Kendall Brodie, Chris Morgan, Will O’Connell, Charlie Patterson, Scott Woodward, Ed White.

42


Composite Junior Women’s Quad, Henley Women’s Regatta 2017: India Thomson (Pymble), Hillary Ballinger (Somerville House), Laura Chancellor (Somerville), and Ella Hudson (SRC).

Women’s four, Henley Women’s Regatta 2017: Emily Partridge, Candice Williams, Susie Dear, Maddy Farrar.

43


Britannia Cup four, Henley Royal Regatta 2017: Charlie Nicholas (Cox), Alex Nichol, Michael Bernerius, Will O’Connell, Charlie Patterson.

Wyfold Cup four, Henley Royal Regatta 2017: Max Brenner, Clinton Boltman, Jack Quinn, Nick Clifton.

44


Men’s Under 23 Pair: Tom Barnes, Charlie Patterson.

Men’s Under 19 Quad: Evan Wang, Alex Migdalias, Tal Lewis, John Bivell.

Champion Women’s Under 19 Coxed four of NSW: Lauren Graham, Ella Hudson, Pippy Wiseman, Lauren Lyon (LRC), Georgia Bradley.

45


WINNING CREWS Regatta Season 2016-2017

NEWCaSTLE UNI PRE-IV – 10 SEPTEMBER 2016Men’s C/D Grade Single Scull Tal Lewis, Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C/D Grade Single Scull Benedict Brenner, Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C/D Grade Single Scull John Bivell, Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C/D Grade Quad Sculls Jason Huang, Alexander Migdalias, Tal Lewis, Luke Stait| Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s Open Coxed Four Kurtis Aroney, Tom McMahon, Joe McMahon, Paul Coates Cox: Sara McDonald, Coach: Paul Coates

HENLEY ON HUNTER – 11 SEPTEMBER 2016Men’s Open Coxed Four Luke Stait, Kurtis Aroney, Paul Coates (Composite) Coaches: Paul Coates, Hugh McLeod, Kurtis AroneyWomen’s Under 17 Double Scull Deborah Prospero, Sara McDonald Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Under 17 Single Scull Deborah Prospero, Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s Under 19 Quad Scull Alexander Migdalias (Composite) Coach: Peter BondWomen’s Under 17 Quad Scull Deborah Prospero (Composite)

NEPEaN ROWING CLUB – 24 SEPTEMBER 2016 Men’s Open Double Scull Angus Moore, Spencer TurrinWomen’s Masters Double Scull Fiona Martin, Deborah Church Coach: Ken AmblerMen’s C Grade Coxed Four Paul Coates, Phil Coates, Joe McMahon, Tom McMahon Cox: Benedict Brenner, Coach: Paul CoatesWomen’s Masters Single Scull Fiona Martin, Coach: Ken AmblerWomen’s Masters Quad Scull Fiona Martin, Deborah Church, Kaye Smythe, Dorothy De George

RNSW SPRING REGaTTa – 15 OCTOBER 2016Men’s C Grade Double Scull Michael Ritchie, Lucas Giles Coach: Lachlan CarterMen’s Open Coxless Four Angus Moore, Charlie Patterson, Spencer Turrin, Nathan Bowden Coach: Donovan CechWomen’s Open Quad Scull Bianca Riley, Leah Saunders, Georgia Bradley, Brianna Caputo Coach: Lachlan CarterMen’s Open Eight Dylan Boakes, Nicholas Clifton, Spencer Turrin, Charlie Patterson, Angus Moore, Nathan Bowden, Edward White, Alexander Lloyd Cox: Millicent Cheetham, Coach: Donovan CechMen’s Open Double Scull Angus Moore, Spencer Turrin Coach: Donovan CechWomen’s Open Coxless Four Lara Campbell, Harriet Hudson, Candice Williams, Emily Partridge Coach: Lachlan Carter

SYDNEY GIRLS HIGH SCHOOL REGaTTa – 26 NOVEMBER 2016Schoolgirl Year 8 Double Scull Genevieve Bivell, Isabel Lucraft Coach: Paul Coates

HEaD Of THE YaRRa – 26 NOVEMBER 2016Men’s Masters D Eight Ken Rikard-Bell, Rick Martin, Stuart Cowap, Roger Brighton, David Greenslade, Steve Graham, Rob McNeill, Michael Davies Cox: Scott Trayhurn, Coach: Stephen HandleyMixed Masters Eight Dylan Boakes, Emily Partridge, Candice Williams, Harriet Hudson, Max Brenner, Rob Wells, Will O’Connell, Susie Dear Cox: Pippy Wiseman

RNSW REINDEER REGaTTa – 3 DECEMBER 2016Women’s Open Single Scull Leah Saunders, Coach: Lachlan CarterMen’s Open Coxless Pair Edward White, Nathan Bowden, Coach: Donovan Cech

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Women’s Under 21 Single Scull Harriet Hudson, Coach: Lachlan CarterMen’s D Grade Quad Sculls Alexander Migdalias, Benedict Brenner, Oscar Gullickson, Jason Huang Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Masters Single Scull Fiona MartinMen’s Masters Pair Martin Little, Charles Lloyd JonesMen’s Masters Pair David Greenslade, Roger Brighton Coach: Stephen HandleyWomen’s Masters Quad Scull Kirsten Liljeqvist, Fiona Martin, Deborah Church, Dorothy De GeorgeMen’s Masters Eight Ken Rikard-Bell, Richard Martin, Stuart Cowap, Roger Brighton, David Greenslade, Stephen Graham, Robert McNeill, Michael Davies Cox: Scott Trayhurn, Coach: Stephen HandleyWomen’s Open Pair Leah Saunders (Composite) Coaches: Lachlan Carter, Ellen Randell, David GelyMen’s Masters Coxless Four Ken Rikard-Bell, Stephen Graham, Robert McNeill, Michael Davies Coach: Stephen HandleyWomen’s Masters Double Scull Fiona Martin, Deborah ChurchMen’s Under 21 Double Scull Max Duignan, Max Brenner Coach: Lachlan CarterWomen’s Open Coxless Four Candice Williams, Emily Partridge, Leah Saunders, Susannah Dear Coach: Lachlan CarterMen’s B Grade Quad Scull Dylan Boakes, Nicholas Clifton, Max Brenner, Max Duignan Coaches: Jason Baker, Lachlan CarterWomen’s Masters Eight Deborah Church, Fiona Martin, Kirsten Liljeqvist (Composite) Coaches: Robert Glendenning, Phillip Titterton

NSW SPRINT CHaMPIONSHIPS – 14 DECEMBER 2016Men’s Under 21 Single Scull Lucas Giles, Coach: Lachlan CarterMen’s Lightweight Coxless Pair Luke Stait, Cristian Pezo Coaches: Paul Coates, Luke Stait

TaREE SUMMER REGaTTa – 13 TO 15 JaNUaRY 2017Men’s D Grade Double Scull Aaron Winata, Richard Quach Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s D Grade Double Scull William Ma, Jason Huang Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s D Grade Double Scull Tal Lewis, Benedict Brenner Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s C Grade Quad Scull Georgia Duggan, Deborah Prospero, Sara McDonald, Doris Doyle Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C Grade Quad Scull John Bivell, Cristian Pezo, Jason Huang, Tal Lewis Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Under 16 Single Scull Caitlin McManus-Barrett Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s Masters Eight Ken Ambler, Andrew Goldstein, Paul Coates, Richard Martin, Ken Rikard-Bell, Carl Quitzau, David Greenslade, Roger Brighton Cox: Scott Trayhurn Coach: Stephen HandleyMen’s Masters Single Scull Carl Quitzau Men’s Masters Single Scull Ken Ambler Men’s D Grade Single Scull Andrew Li, Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Under 19 Single Scull Deborah Prospero Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Masters Quad Scull Dorothy De George, Deborah Church, Vivienne King, Fiona MartinMen’s Masters Pair David Greenslade, Roger Brighton Coach: Stephen HandleyMen’s B Grade Double Scull Luke Stait, Andrew Goldstein, Coach: Paul CoatesMen’s D Grade Quad Scull John Bivell, Benedict Brenner, Jason Huang, Tal Lewis Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s Masters Double Scull David Greenslade, Roger Brighton Coach: Stephen HandleyWomen’s D Grade Quad Scull Kisha Chabo, Caitlin McManus-Barrett, Doris Doyle, Sara McDonald Coaches: Luke Stait, Paul Coates, Sean Madeley

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Women’s Under 16 Double Scull Caitlin McManus-Barrett, Doris Doyle Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s Masters Coxless Four Ken Rikard-Bell, Richard Martin, David Greenslade, Roger Brighton Coach: Stephen HandleyWomen’s B Grade Quad Scull Kisha Chabo, Caitlin McManus-Barrett, Doris Doyle, Sara McDonald Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Masters Single Scull Fiona MartinWomen’s D Grade Single Scull Kisha Chabo Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C Grade Double Scull Richard Quach, Aaron Winata Coaches: Luke Stait, Paul Coates, Sean MadeleyWomen’s Under 19 Double Scull Georgia Duggan, Deborah Prospero Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s Masters Quad Scull Richard Martin, David Greenslade, Carl Quitzau, Roger Brighton Coach: Stephen HandleyMen’s C Grade Single Scull Carl QuitzauWomen’s Masters Double Scull Deborah Church, Fiona Martin

RNSW SMaLL BOaTS REGaTTa – 28 JaNUaRY 2017Women’s Masters Single Scull Fiona Martin Coach: Ken AmblerMen’s Under 23 Double Scull Dylan Boakes, Nicholas Clifton Coach: Jason BakerWomen’s Under 21 Single Scull Georgia Bradley Coach: Lachlan CarterMen’s Under 23 Single Scull Charlie Patterson Coaches: Donovan Cech, Jason BakerMen’s Elite Pair Edward White, Nathan Bowden Coach: Donovan CechWomen’s Masters Double Scull Kaye Smythe, Dorothy De GeorgeMen’s Under 21 Double Scull Jake Brighton, Lucas Giles Coaches: Lachlan Carter, Jason BakerWomen’s Elite Double Scull Harriet Hudson (Composite) Coaches: Andrew Randell, Lachlan Carter, Donovan Cech

NSW ROWING CHaMPIONSHIPS – 10 TO 12 fEBRUaRY 2017Women’s Under 23 Single Scull Harriet Hudson Coaches: Lachlan Carter, Donovan CechMen’s Elite Pair Spencer Turrin (Composite) Coaches: Ian Wright, Mark Prater, Andrew RandellWomen’s Under 21 Lwt Single Romola Davenport Coach: Lachlan CarterWomen’s Under 19 Coxed Four Lauren Graham, Lauren Lyon (LRC), Ella Hudson, Georgia Bradley Cox: Pippy Wiseman, Coaches: Lachlan Carter, Harold Kratz, David CameronMen’s Elite Coxless Four Angus Moore (Composite) Coaches: Ian Wright, Mark Prater, Andrew RandellMen’s Elite Coxed Four Edward White, Alexander Lloyd, Christopher Morgan, Nathan Bowden Cox: Pippy Wiseman, Coach: Donovan CechMen’s Elite Eight Edward White, Charlie Patterson, Christopher Morgan, Nathan Bowden, Spencer Turrin, Alexander Lloyd, Angus Moore, Joshua Hicks Cox: Kendall Brodie, Coach: Donovan Cech

SYDNEY ROWING CLUB REGaTTa – 25 fEBRUaRY 2017Men’s Under 23 Coxless Pair Thomas Barnes, Charlie Patterson Coach: Donovan CechWomen’s Under 19 Single Scull Lauren Lyon Coach: Lachlan CarterWomen’s Under 21 Single Scull Harriet Hudson Coaches: Lachlan Carter, Donovan CechMen’s Lightweight Single Scull Gavin Parcsi, Coach Lachlan CarterWomen’s Open Eight Leah Saunders (Composite) Cox: Kendall Brodie, Coaches: John Keogh, Ellen Randell, Thomas Westgarth

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Men’s Open Eight Thomas Barnes (Composite) Coaches: Jason Baker, Dustyn ButlerMen’s Open Coxless Four Edward White, Charlie Patterson, Thomas Barnes, Nathan Bowden Coach: Donovan CechWomen’s Open Quad Scull Leah Saunders (Composite) Coaches: John Keogh, Ellen Randell, Thomas Westgarth

RIVERVIEW GOLD CUP REGaTTa – 4 MaRCH 2017Women’s B Grade Coxed Four Lauren Lyon, Susannah Dear, Emily Partridge, Tessa Mapplebeck Cox: Pippy Wiseman, Coach: Lachlan CarterWomen’s Masters Eight Deborah Church (Composite) Coaches: Robert Glendenning, Phillip TittertonWomen’s Invitational Single Scull Harriet Hudson, Coaches: Donovan Cech, Jason Baker, Lachlan CarterMen’s Open Eight Edward White, Christopher Morgan, William O’Connell, Charlie Patterson, Scott Woodward, Alexander Lloyd, Thomas Barnes, Nathan Bowden Cox: Kendall Brodie, Coaches: Donovan Cech, Jason Baker, Lachlan Carter

SYDNEY INTERNaTIONaL ROWING REGaTTa – 27 MaRCH TO 2 aPRIL 2017Women’s Open Quad Scull Harriet Hudson (Composite)Women’s Under 21 Double Scull Romola Davenport, Harriet Hudson Coaches: Lachlan Carter, Donovan CechMen’s Open Single Sculls Spencer Turrin Coaches: Ian Wright, Mark Prater, Andrew RandellMen’s Open Coxless Pair Angus Moore, Josh Hicks Coach: Donovan CechMen’s Open Coxless Four Nathan Bowden (Composite) Coaches: Ian Wright, Mark Prater, Andrew RandellMen’s Open Coxed Four Will O’Connell, Chris Morgan, Ed White, Patterson, Cox: George Davis Coach: Donovan CechMen’s Under 23 Coxless Four Tom Barnes, Charlie Patterson (Composite) Coaches: Donovan Cech, Simon GadsdenWomen’s Open Eight Sprint Leah Saunders, Harriet Hudson (Composite) Cox: Kendall BrodieMen’s Open Eight Sprint Edward White, Nicholas Clifton, Matthew Gertenbach, Charlie Patterson, Christopher Morgan, Nathan Bowden, William O’Connell, Joshua Hicks Cox: Pippy Wiseman, Coach: Donovan CechClub Women’s Coxless Four Candice Williams, Tessa Mapplebeck, Emily Partridge, Susie Dear Coach: Lachlan CarterClub Women’s Eight Lara Campbell, Brianna Caputo, Madison Brown, Madeleine Farrar, Candice Williams, Tessa Mapplebeck, Emily Partridge, Susie Dear Cox: Millicent Cheetham, Coach: Lachlan Carter Men’s Arms and Shoulders Single Erik Horrie Coach: Jason Baker

DRUMMOYNE REGaTTa – 19 MaRCH 2017Men’s C Grade Quad Scull Evan Wang, Alexander Migdalias, Tal Lewis, John Bivell Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C Grade Double Scull Alexander Migdalias, Tal Lewis Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s D Grade Quad Scull Oscar Gullickson, Benedict Brenner, Lucas Chabo, Cristian Pezo Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C Grade Single Scull Alexander Migdalias Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s C Grade Coxless Pair Benedict Brenner, Tal Lewis Coaches: Luke Stait, Paul Coates, Sean MadeleyMen’s D Grade Double Scull Evan Wang, Oscar Gullickson Coaches: Luke Stait, Paul Coates, Sean Madeley

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DRUMMOYNE MaSTERS – 26 MaRCH 2017Men’s D Single Scull Carl QuitzauMen’s E Quad Scull David Greenslade, Carl Quitzau, Richard Martin, Roger Brighton Coach: Stephen HandleyWomen’s F-K Double Scull Deborah Church, Fiona Martin Coach: Ken AmblerMen’s D-E Eight Carl Quitzau, Charles Lloyd Jones, Richard Martin, Ken Rikard-Bell, Martin Little, Stephen Graham, David Greenslade, Roger Brighton Cox: Scott Trayhurn, Coach: Stephen HandleyWomen’s F-K Single Scull Fiona Martin, Coach: Ken AmblerMen’s F-K Quad Scull Charles Lloyd Jones (Composite)Men’s E Single Scull Carl QuitzauMen’s F-K Coxless Four Charles Lloyd Jones, Geoffrey Raymond, Richard Martin, Ken Rikard-BellMen’s F-K Double Scull Richard Martin, Geoffrey Raymond

EDWaRD TRICKETT NSW GRaDE CHaMPIONSHIPS – 8 TO 9 aPRIL 2017Men’s D Grade Single Scull Lucas Hempton, Coach: James StrideMen’s C Grade Single Scull Sebastian Myles, Coach: James StrideMen’s C Grade Coxless Pair Roger Brighton, David Greenslade Coach: Stephen HandleyMen’s D Grade Double Scull Tal Lewis, Benedict Brenner Coaches: Luke Stait, Paul Coates, Sean Madeley

IRON COVE MaSTERS – 30 aPRIL 2017Women’s F-K Single Scull Kaye SmytheWomen’s A-B Quad Scull Kim Odolphi, Jennifer Edge (Composite)Men’s A-C Pair Michael Davies, Robert McNeill Coach: Stephen HandleyWomen’s D Quad Scull Fiona Martin (Composite) Coach: Bruce WilliamsMen’s F-K Double Scull Richard Martin, Geoffrey Raymond Women’s F-K Quad Scull Fiona Martin, Deborah Church, Kaye Smythe, Dorothy De GeorgeWomen’s C Quad Scull Fiona Martin (Composite) Coach: Bruce WilliamsWomen’s F-K Double Scull Kaye Smythe, Dorothy De George

NSW MaSTERS CHaMPIONSHIPS – 3 MaY 2017Women’s Masters Trial Eight Deborah Church, Jennifer Edge (Composite) Coach: Steve SherryWomen’s H Double Scull Kaye Smythe, Dorothy De GeorgeMen’s F Quad Scull Charles Lloyd Jones (Composite)Women’s A-B Eight Jennifer Edge (Composite) Women’s G Single Scull Kaye SmytheMixed A-C Quad Scull Jennifer Edge (Composite) Men’s E Single Scull Carl QuitzauWomen’s Masters Trial Quad Fiona Martin (Composite) Coach: Bruce WilliamsMen’s E Coxless Four Charles Lloyd Jones, Martin Little, Richard Martin, Geoffrey Raymond Mixed D-F Double Scull Kaye Smythe, Martin LittleWomen’s F Double Scull Fiona Martin, Deborah Church Coach: Ken AmblerWomen’s H-K Quad Scull Kaye Smythe, Dorothy De George (Composite)Men’s D Double Scull Carl Quitzau (Composite)

aUSTRaLIaN MaSTERS ROWING CHaMPIONSHIPS – 18 TO 21 MaY 2017Mixed Masters F - G Double Richard Martin, Fiona MartinMixed Masters F - G Double Kaye Smythe, Geoff RaymondMen’s Masters E Single Carl QuitzauWomen’s Masters F Single Fiona Martin Coach: Ken Ambler

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SYDNEY ROWING CLUB SOCIaL GOLf CLUBThe social golf club continues to attract new members and we welcome any enquires from members of the Sydney Rowing Club who would like to join the golf club.

The Phyllis Gilmore Club Championship Trophy for 2016 was a closely fought contest won by Jeff Ackland scoring 99 stableford points over the three championship rounds at Boomerang, Woodville and Blackheath Golf Clubs. The runner-up for 2016 was one of our lady members, Debra Adams, with 98 stableford points.

The Alf McBurney Trophy for 2016 was won by Ken Porter with 151 points, with Neil Clarke the runner-up scoring 144 points. The Most Improved Golfer award went to Alfie Di Bello, the Graham Thomas Encouragement Award went to David Smith and the Captain’s Birdie Trophy was won by Alfie Di Bello with three birdies. We also had Richard Yarad achieve a hole in one at Barnwell Park in December.

We held our Annual Presentation night at the Watergrill in December and it was again a pleasure to welcome our some of our sponsors, Richard and Yolla Yarad, Ivan Meeke and Paul Keating who are sponsors as well as being members.

The winners of our point score games this year to-date are Tony Dyer, Peter Carolan, Jeff Carpenter, Matt Lincoln and Neil Clarke. Our social team events this year have been won by Jeff Carpenter and Warren Partington (Canadian Foursomes) and Matt Lincoln and Matt Hawkesleye (Ambrose).

Our annual Billy Bolger Match Play Challenge event was again a great day at the Boomerang Golf Club on Sunday 12 March 2017. The Chairman’s team just defeated the Captain’s team six matches to five.

Our club is ably supported by our Committee members, Chairman Linda Watt-Smith, Secretary Peter Carolan, Treasurer Jim Riccord, Captain Norman Gilmore, Handicapper Mark Stephens, Social Secretary Tony Dyer and Assistant Social Secretary Rick Seymour. Our thanks also to our regular chefs Neil Clarke and Paul Keating and the ladies who assist with the barbecues after our games.

We especially thank the Sydney Rowing Club for their ongoing support and sponsorship of our social golf club. Our members particularly enjoy the after-game barbecues, drinks and prize presentations back at the Club after our games.

We would like to thank the members of Sydney Rowing Club for their continued generous support of our Saturday meat raffles, and our other sponsors Ambassador Trophies, Basket Case Laundrette, Dedes Restaurant, Ivan Meeke, John and Barbara Langley, Lock Stock & Bottle Abbotsford, Paul Keating and Richard Yarad all of whom make the day even more enjoyable for the golfers.

Linda Watt-SmithChairman, Sydney Rowing Club Social Golf Club

EVENTS aND fUNDRaISINGOur major fundraising activity this season was for the club’s crews travelling to Henley Women’s Regatta and Henley Royal Regatta in the United Kingdom, and Holland Beker Regatta in Amsterdam. Athletes and parents formed the majority of the fundraising committee. With the women’s crews needing to depart early, we ran two functions – a barbecue just prior to the women’s crews’ departure, and the traditional Henley fundraiser just before the men’s crews departed. Once again there was a wonderful variety of raffle items, and loud and silent auction items. Over the two functions, generous supporters contributed $35,000 towards the team’s expenses.

We joined forces with the NSW Rowing community for a fundraiser to help support the NSW members in the Australian teams for the 2017 World Rowing Under 23 Championships, the World Rowing Junior Championships, and the Trans-Tasman Under 21 Series. This year we hosted the fundraiser at Sydney Rowing Club.

Every week our Team SRC members can be seen in the club house selling raffle tickets for a fresh seafood tray. The funds raised from the raffle go towards regatta, training and travel expenses of the athletes, and by purchasing tickets, club patrons are helping our athletes to compete for the club. We thank our members and guests for their generous support.

MaRKETING aND COMMUNICaTIONSThe Marketing and Communications Committee is responsible for the Rowing Club’s social media: Facebook (www.facebook.com/SydneyRowing), Twitter (@sydrowingclub), Instagram (@sydrowing), YouTube, Flickr photo sharing site (Sydney Rowing Club) and e-newsletter The Catch. Subscribe here: http://sydneyrowingclub.com.au/Rowing/src-the-catch.php.

The club uses social media extensively to promote our rowing program and the athletes and coaches. Various platforms are used to inform and engage with the Sydney Rowing Club community and wider rowing audience. The Committee have been working on increasing the number of subscribers and building content interaction with our audience.

These platforms give users a good snapshot of the essence of the club as well as a place to keep up to date with all that is happening locally and internationally for SRC. The content from these accounts is accessed by local users and by an international audience. helping to spread the Sydney Rowing Club brand and the winning reputation of the club worldwide. This is evidenced by the high volume of traffic and interaction with our content that also gets shared by other users and accounts all over the world, widening the audience and exposure of our successful program.

Kendall Brodie

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Champion Women’s Masters f Sculler of australia: Fiona Martin.

Mixed Eight at the Taree Regatta 2017: Tal Lewis, Jason Huang, Ben Brenner, Deborah Prospero, Sara McDonald, Doris Doyle, Caitlin McManus-Barret, Scott Trayhurn and John Bivell

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Masters Men’s Eight at the Head of the Yarra

MaSTERS ROWINGAn enthusiastic and capable group continue to train regularly and compete with great success in Masters events for SRC.

The men opened their account this season with a convincing win at the Head of the Parramatta in a field of 10 boats, perhaps an early indicator of their form leading into the Head of the Yarra. After several attempts in recent years, the SRC Men won the D-Division in 2016 which included a visit to the “Protest Room” when the crew had to stop to avoid a collision with last year’ victors, Barwon, who had been caught (in the time trial format) and refused to yield. The first half of the season finished with the Reindeer Regatta the following week where the same crew (Ken Rikard-Bell, Ric Martin, Start Cowap, Steve Graham, David Greenslade, Roger Brighton, Rob MacNeill, Mike Davies and Scott Trayhurn) were victorious against arch-rivals Mosman along with the four and pair events. At the same regatta, Deb Church and Fiona Martin won the Women’s Masters Double, teamed up with Kirsten Liljeqvist and Dorothy DeGeorge to win the Women’s Quad, and also won the eight with Kirsten in a composite crew.

In January, a small but dedicated bunch competed at Taree with great success in multiple boat classes across the three days, including wins for new combinations in the Men’s and Women’s Quads. (Rick Martin, Carl Quitzau, David Greenslade, Roger Brighton and Dorothy DeGeorge, Deb Church, Vivien King and Fiona Martin respectively), coxless Four (Rikard-Bell, Martin, Greenslade and Brighton) and Fiona Martin, Ken Ambler and Carl Quitzau in singles.

Attention then turned to the main goal for half the men’s squad of the World Masters Games at Lake Karapiro in New Zealand. The weather was perfect at the picturesque venue and the level of competition was very high as expected. The squad contested all boat categories admirably making several finals, with David Greenslade and Roger Brighton bringing home a Silver Medal in the Men’s D Pair.

Back home, the wider Masters group contested several regattas leading up to the NSW and National Masters Championships. At the State Masters Championships, Kaye Smythe and Dorothy DeGeorge won their division in the Double, as did Fiona Martin and Deb Church again, and a new men’s combo of Charles Lloyd-Jones, Martin Little, Rick Martin and Geoff Raymond took out the E Quad. Fiona Martin won selection in the Interstate Women’s Quad which took a Bronze at the National Regatta while Deb Church and Jennifer Edge rowed in the Interstate Women’s Eight which took Silver. Well done girls! Carl Quitzau successfully defended his E Single Championship.

The Men’s group would again like to thank Steve Handley and coxswain Scott Trayhurn for their continuing dedication and invaluable input on which much of our success depends.

Roger Brighton

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Erik Horrie Filippi Excellent Sgt Fred Wellisch Sykes ExcellentLt A C H Jackson. Sykes ExcellentCapt Keith Heritage Sykes ExcellentLt Claude Luscombe Sykes ExcellentTess Gerrand Sykes ExcellentRay Armstrong Sykes ExcellentPeter Baird Sykes ExcellentKirsten Liljeqvist Sykes ExcellentHugh McLeod Sykes ExcellentCarl Quitzau Sykes ExcellentMartin Ward Sykes ExcellentCharles Lloyd Jones Sykes ExcellentKen Ambler Sykes ExcellentPaul Coates Sykes ExcellentJim Goulding Sykes ExcellentSimon Nola Sykes ExcellentAngus Playfair Sykes ExcellentJim Stride Sykes ExcellentA.J. Brown Sykes ExcellentAndrew Rowley Sykes ExcellentGlenn Ryder Sykes ExcellentReg Stride Ausrowtec FairErnie Chapman Ausrowtec FairJohn Langley Ausrowtec FairSue Walker Ausrowtec GoodMatt Long Ausrowtec Fair

Wavecutters (2) Race1 Excellent

Motor Boats:3.7m Quintrex Excellent 3.7m Quintrex Excellent 3.7m Sea Jay Good3.7m Sea Jay Good3.7m Stacer Good3.9m Sea Jay Good3.9m Sea Jay Good

Motors:15hp 4 stroke Yamaha Excellent15hp 4 stroke Yamaha Excellent9.9hp 4 stroke Yamaha Excellent9.9hp 4 stroke Yamaha Excellent15hp 4 stroke Yamaha Good20hp 4 stroke Yamaha New20hp 4 stroke Yamaha Good

Sweep OarsConcept 2 Big blades x 12Concept 2 Skinnys x 8 Croker Arrows x 10Croker M4 (5 x sets of 8)

Sculling OarsCroker Arrows x 10 pairsCroker S2 superlight x 20 pairsCroker S4 soft x 8 pairsCroker S2 stiff x 12 pairs

Lachlan Carter has responsibility for arranging maintenance and upkeep of the fleet and equipment, with support from Mick Allan, Paul Coates and Jim Stride. Their efforts are much appreciated.

EQUIPMENT REPORTThe Club has an excellent fleet, maintained to a high standard.

This year the club disposed of the following boat:Coxless Four Michael Morgan

Boats purchased:Coxless Four Michael MorganCoxless Four Roger BrightonCoxless Pair Leah SaundersRacing Single Scott WoodwardRacing Single Lachlan CarterDouble Sculls To be namedWavecutter Training Singles (two)Further boat purchases are planned for the new season.

CLUB fLEETEights:Ernie Chapman Empacher ExcellentJohn Coates Empacher ExcellentPhillip Cayzer Empacher ExcellentQ L Deloitte Sykes GoodPhil Cayzer Empacher GoodGeorge Parlby Ausrowtec Fair

Coxless fours/Quad Sculls:Michael Morgan Empacher NewRoger Brighton Sykes ExcellentJim Goulding Sykes ExcellentDallas Smith Empacher ExcellentMick Allan Empacher ExcellentTony Brown Sykes GoodDedes Family KIRS GoodSydney Sykes GoodLarry Parker Sykes FairDallas Smith Ausrowtec Fair

Coxed four/Quad:Dame Eadith Walker Sykes ExcellentDale Caterson Sykes ExcellentKeith Jameson Sykes Excellent

Coxless Pairs/Double Sculls:Double, to be named Empacher ExcellentLeah Saunders Empacher NewChris Morgan Sykes ExcellentIan Clubb Sykes ExcellentAlex Lloyd Empacher ExcellentSpencer Turrin Empacher ExcellentRussell Cooper Sykes ExcellentPeter Grosvenor Sykes ExcellentDominic Grimm Sykes ExcellentJames Chapman Sykes ExcellentIan Paver Sykes ExcellentScott Turner Sykes ExcellentDavid Sollom Sykes Very GoodStephen Handley Sykes GoodMichael Rowan Sykes Very Good Jenny Cole Sykes GoodDiane Johnson Sykes GoodDoug Donoghue Sykes ExcellentMelva Cayzer Empacher Fair

Single Sculls:Lachlan Carter Sykes NewScott Woodward Sykes New

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ORDER Of MERITIn recognition of their service to the Club, the Order of Merit has been conferred upon the following members:

1936 F. McK. Leister*1937 W. A. Goulding*1938 T. P. Mullholland*1939 N. W. Lawrance*1940 A. C. Lambert*1947 E. Sawkins*1955 G. E. Parlby OAM*1956 W. H. Holden*1957 J. A. Goulding*1959 E. W. Chapman OAM*1960 J. Creaser*1961 C. K. Stewart*1963 F. T. D. Meares*1964 O. N. Rosevear*1966 H. Clare*1970 P. A. Cayzer OAM*1972 E. A. Perry*1975 K. L. Graham OAM*1980 R. P. Stride*1982 J. D. Donoghue AM1983 D. J. Sollom1986 K. E. Jameson OAM1991 G. R. Ryder1993 D. W. Smith1995 J. A. Goulding*1997 I. A. Clubb1998 J. D. Coates AC2001 G. K. Allan2003 M. Daffy2005 L. Parker2007 S. Derwin2007 M. Morgan OAM2010 S. Handley2012 A. J. Brown2015 D. Caterson OAM2015 J. Cole2015 J. Stride2016 M. Rowan* Denotes deceased

HONORaRY LIfE MEMBERS1928 H. R. Pearce*1937 W. J. Dixon*1954 W. F. Bradley*1959 J. A. Goulding*1959 W. A. Goulding*1959 W. H. Holden*1959 G. E. Parlby OAM*1967 N. T. Grounds*1968 M. T. Wood MBE*1969 A. W. Duval (Jnr)1970 H. Clare*1971 A. L. May*1972 A. R. Callaway*1972 A. G. Grover1972 M. D. Morgan OAM1972 G. M. Pearce1973 G. Carlson*1974 E. W. Chapman OAM*1974 O. N. Rosevear ED*1977 R. D. Paver1979 K. L. Graham OAM*1980 I. R. Lee1981 I. A. Clubb1983 P. A. Cayzer OAM*1983 J. D. Coates AC1985 J. P. Stride1987 D. Caterson OAM1989 R. P. Stride*2001 K. E. Jameson OAM2003 K. Larsen2003 R. Walker2003 R. Wearne2003 J. Winter2003 R. Jahrling2008 S. Handley2012 D. Smith2014 J. Chapman2014 T. Gerrand* Denotes deceased

SYDNEY ROWING CLUB fOUNDaTIONThe Foundation is now in its eighth year. The Trustees of the Foundation are Doug Donoghue AM (Chairman), Ian Clubb, Keith Jameson OAM, Michael Morgan OAM, and Andrew Rowley. On its formation, the Trustees resolved to apply funds raised by the Foundation over time to:• Assistinupgradingorreplacementofrowingfacilities• Supporttotraining,coachingandotherprogrammesofthe

Club• Assistinginthefundingofboatsandequipment• FinancialassistancetotheClub’srowersIt is accepted that the Trust will grow over time through bequests and donations.The Trustees encourage members and supporters of Sydney Rowing Club to make donations and consider bequests where possible for the future benefit of the Club and particularly its younger members.Two functions were held during the year to thank supporters of the Foundation and update them on the Club’s rowing activities.As at 30 June 2017 contributions to the Foundation from donations and bequests totalled $143,640.The Foundation has an Agreement with the Australian Sports Foundation to enable members and supporters to make tax-deductible donations to the Sydney Rowing Club Foundation.We ask members to consider making a donation or provide for a bequest to the Foundation.Please don’t hesitate to contact any of the Trustees, or Peter Grosvenor at the Club, if you would like further information.

Doug Donoghue aMChairman of Trustees

OBITUaRIESWe regret to record the deaths of the following members since our last report: Ted Anderson, Brian Blowes, John Bolger, Tom Breaden, Peter Capri, David Clark, Walter Craigie, Beryl Crowe, Vincenzo Floro, Joan Foster, Nimrod Greenwood, Max Johnson, Laurence Larcombe, Robert Lynch, Patricia McGrath, Geoffrey Moss, Ross Musumeci, Beryl Mutch, Elizabeth Newton, Judith Ozanne, Douglas Parry, Clement Robinson, Thomas Unsworth, Kevin Wearne.The club extends our deepest sympathy to their relatives and friends.Brian Blowes rowed in the sixties for Glebe and Leichhardt, and later coached for Glebe, and was a well-known associate member and a regular in the club house.Nim Greenwood rowed for Leichhardt and was a contemporary of Phil Cayzer. He represented Australia in the 1952 Helsinki Olympic Games where he won a bronze medal in the Men’s Eight.Doug Parry was a lightweight rower of the early 1950s and brother of coxswain Gordon Parry. He retained his interest in the club through regular attendance at the club’s rowers’ reunions. Kevin Wearne was Honorary Secretary of the club in the years 1960 to 1963. In the 1962-1963 season Kevin rowed for the club as a Novice (no previous experience) and won a race at the Balmain Regatta. Kevin is well remembered by those who rowed in the early sixties, and he attended the club’s rowing reunions regularly.

ROWING REUNIONSThe club’s reunions are held twice a year, on the first Sunday in May and the first Sunday in November.

These reunions are well attended by current and past members. Activities at the reunions usually include boat naming ceremonies, reunions of crews, presentation of 50 year awards, and general recollection and review of past years.

At the November 2016 Reunion, we were joined by Phil Cayzer’s great-nephews for the scattering of Phil’s ashes from the pontoon.

We then conducted boat naming ceremonies for five new boats – straight four Roger Brighton, and pairs Leah Saunders, Chris Morgan, Spencer Turrin and Alex Lloyd.

We moved on to lunch and a reunion of the 1976 Australian Olympic eight with many members present from that era. For some it was a very long day.

In May of this year we presented a 50 year tankard to Ray Armstrong and named three boats – a new four Michael Morgan, pair Ian Clubb and single scull Scott Woodward.

The next reunion will be held on Sunday 5 November 2017.

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SYDNEY ROWING CLUB LIMITED

613 Great North Road Abbotsford NSW 2046 PO Box 45 Five Dock NSW 2046 Australia

Phone: 02 9712 1199 Fax: 02 9712 3252

web: www.sydneyrowingclub.com.au

SYDNEY ROWING CLUB€¦ · Gold Cup, the Champion Men’s Pair of Australia, and the Champion...

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Transcript of SYDNEY ROWING CLUB€¦ · Gold Cup, the Champion Men’s Pair of Australia, and the Champion...