AISL Annual Report 2010-11

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2010-2011Michael Diamond wins Gold at the ISSF World Cup

Shotgun Final at Al Ain, UAE in October 2011

2006 2007 2008 2009 2010 2011

Warren Potent 0 3 (2G) 5 (2G 3B) 4 (3G 1B) 1 (1G)

Michael Diamond 0 1 (G) 3 (2G 1S) 2 (1G 1S) 2 (1G 1S)

Adam Vella 0 2 (2S) 0 0 1 (1G)

Russell Mark 0 0 0 0 1 (1S)

Lalita Yauhleuskaya 1 (G) 0 3 (2S 1B) 3 (1S 2B) 2 (2S) 2 (2B)

Dina Aspandiyarova 0 0 0 1 (1S)

Ashley Adams 4 (1G 1S 2B) 1 (1S) 2 (2S) 3 (1G 2S)

Libby Kosmala 3 (1G 2B) 2 (1S 1B) 2 (1G 1B) 3 (3S)

Jason Maroney 2 (1S 1B) 1 (1B) 1 (1B) 2 (1G 1B) 4 (2S 2B) 1 (1G)

Bradley Mark 4 (3S 1B)

Luke Cain 1 (1S)

Natalie Smith 2 (1G 1B)

Darren Nicholson 1 (1S)

Medal Performances 2006-11

The countdown to an Olympic and Paralympic Games is an exciting time for

Australians. As London 2012 looms on our horizon there is much work to be done to fine tune our preparations.

The Australian Government and the Australian Sports Commission (ASC) continue to work closely with Olympic and Paralympic sports, along with the Australian Olympic and Paralympic Committees to ensure our athletes get the best possible support. Through the Green and Gold project, $3.85 million in extra funding has been provided for our top Olympic athletes and teams to boost their training and preparations for London 2012.

A true sign that Australian sport is united in working together is the endorsement from the Commonwealth, State and Territory Governments of the National Sport and Active Recreation Policy Framework. What this means is that for the first time all governments have agreed on priorities for sport.

Underpinning the Framework is the new National Institutes System Intergovernmental Agreement which unites our National Institutes of Sport and national sporting organisations to work hand-in-hand to achieve common national high performance objectives to maximise resourcing and expertise in support of the development of world class athletes to achieve international success.

This Framework is supported by significant additional investment in sport by the Australian Government. The 2011-12 Budget will provide $300 million to support the full spectrum of sport from grass roots through to elite competition.

Support by the Australian Government will enable a more collaborative long term focus to drive reform within Australian sport and importantly make the connection between Australian’s standing on the podium and young Australians participating in sport.

This is an exciting and challenging time for Australian sport. The Australian Sports Commission looks forward to working with all sporting organisations, the state and territory institutes and academies of sport and state and territory departments of sport and recreation, to promote access to, and participation in, sport across the community and support Australia’s continued sporting success.

The Hon. Warwick Smith AM Chairman

Board of the Australian Sports Commission

“This is an exciting and challenging time

for Australian sport.”

AISL ANNUAL REPORT 2010/11

President’s Report 3CEO’s Report 4-5

Hi-Performance Report 8-13 Coaches Committee Report 14-15

Financials 16-29Marsh 30-31Notes 32

Cover Image: Marco Dalla Dea, ISSF

President’s Report

Welcome to the sixth Annual Report of Australian International Shooting Limited.

As always the reporting year was very busy for all involved with AISL, with the number of international events that we had to arrange for our athletes to attend, as well as the planning for London 2012. This past year has not been any easier for our organisation to ensure the safety of our athletes on the world shooting stage. The Board continues to be committed to good governance principles. We have a robust set of general policies and team selection policy that will ensure our future compliance with those principles. The Strategic Plan is due for review and renewal, which will require input from our stakeholders.

We cannot hold an Annual General Meeting without recognising the contribution that is made to the running of AISL events by our volunteers. They are a small but enthusiastic and incredibly dedicated group, and we are grateful for their continued assistance.

The Australian Sports Commission continues to be our principal sponsor and we thank them sincerely for their support. We have continued to enjoy a very good relationship with the Australian Olympic Committee and the Australian Commonwealth Games Association. The Association could not operate without the continued support of the ASC, the AOC and the ACGA.

Nick Sullivan has continued to form excellent working relationships with those organisations. We are fortunate to have Nick’s networking skills. This reporting year has seen some excellent performances from our experienced shooters, but probably more significantly from our up and coming athletes. Some of our younger athletes are proving to be exciting to watch in their chosen discipline. I believe this augers well for our future success internationally. Our athletes continue to cooperate effectively and with little complaint with the Australian Sports Anti-doping Agency.

The Agency continues to support us as a group and that support is appreciated by all concerned.

Our Board meetings this year were a mixture of face to face and teleconference. The teleconference concept has proven to be a real boon, as not only is it an excellent way to conduct a meeting, but also relieves some of the financial pressure of getting Board members from all over Australia to a central point. As a Board we are always conscious of the effect of face to face meetings on our finances. The Board has made their decisions throughout the year taking account of the needs of all disciplines. I thank the Board for their input and reasoned debate on all matters.

Our CEO Nick Sullivan has conducted the business of the organisation in a professional manner and the Board congratulates him on the excellent result

he has achieved with a small budget. Belinda took maternity leave this year and we were fortunate to have Bianca return for a period of time. Fadia joined us and quickly became an integral part of the organisation. Pauline continued to undertake the accounts administrator role, and, together with the coaches and support staff, assisted Nick throughout the year.

Their enthusiasm, professionalism and support for AISL never waivers and we are extremely lucky to have such a dedicated staff group. Director Glenn O’Brien stood down earlier in the reporting year for personal reasons. The Board has missed Glenn’s reasoned debate on all shooting matters and his obvious business skills.

The Directors, Sharon Reynolds, Susannah Smith, Bob Marshall and I are pleased to present the Annual Report to the meeting.

Cheryl ArnolPresident

Australian International Shooting Limited

The focus of the 2010-11 year revolved around the Olympic Quotas and the Commonwealth Games.

A strong emphasis has been placed on the next generation of athletes as we work towards Glasgow 2014, Commonwealth Games and Rio 2016 Olympic Games, in keeping with the established Long Term Athlete Development (LTAD) timescales. As will be seen elsewhere in the annual report, steady progress across the disciplines is visible. In line with most other sports in Australia the major hurdle is lack of strong, regular competition, and to this end, we continue to generate local competition to assist. The office has conducted 22 competitions since July 2010 across the three disciplines, which have been generally well supported. On a calendar year basis the following competitions are conducted:• 8AustralianCups(4Shotgun,4Rifle&Pistol)• 2AustraliancupFinals(1Shotgun(new),1Rifle&

Pistol)• AISLInternationalGrandPrix–allISSFevents• YouthNationals

The workload in the office was as high, as expected, this being brought about by the organising of teams for the ISSF and IPC World cups, the Commonwealth Games, ISSF World Championships, and the 1st Youth Olympic Games. This, of course, is without mentioning the monthly training camps and training sessions conducted by the National Coaches. Currently we are planning the 2012 - 2013 years, which will see similar levels of competition, as we prepare for the Commonwealth Games and the World Championships in 2014. The audited financial statement is included in this annual report.

We continue to receive minor flows of income from various projects, which include:• SIUSElectronicTargetSystems• apartnershipwithMarshInsurance

We continue to seek partnerships with other agencies However the successful outcome of these ventures relies heavily on goodwill and support.

To assist in this area we established a digital media group to: • promotethesportwithinallourstakeholders,• developahighqualitylibraryoffilmandstill

images of our elite athletes,• provideafeederprogramtothemediaatlarge

through media partner ‘contentgroup’• managethewebsite,facebookandothersocial

media resources,

Nick SullivanCEO

Australian International Shooting Limited

• provideanonlinemanagementsystemforcompetitions and other areas,

• developandmaintainabackofficesystemtohandlescoring and ranking records; and

• provideotherofficetypeduties.

Apart from the website and social media, this group has released three newsletters to date with a fourth due in December, and a scheduled six for 2012. They will also provide on time reports following meetings of board and committees and other statutory bodies.

Following my report are some graphs covering various aspects of the financial and performance levels of the year.

I take this opportunity to thank the following for their support of our sport:• AustralianSportsCommission• AustralianOlympicCommittee• AustralianCommonwealth

Games Association• AustralianParalympicCommittee• TheSIS/SASnetwork• Thevolunteers,whosetimeinput,isimmeasurable

in monetary measures.

Finally, I would like to thank the board members for their time, which they give freely for the sake of the sport and the counsel they provide. To the AISL staff, who provide clerical support and to the coaches, my thanks for your tremendous work and support.

CEO’s Report

AISL ANNUAL REPORT 2010/11 5

CEO’s Report

Total 4,196,795.83

Uniforms 2,420.77

Managed Athlete Grants 16,000.00

Affiliation Fees 49,855.88

Reimbursables 55,980.77

Trading/Operating 143,269.45

Other Income 173,649.60

Competion/Camp Proceeds 178,868.40

Sydney World Cup 1,138,621.14

Grants 2,438,129.82

Income

QAIS Grants (2 athls) 16,000.00

ASC 2,179,891.35

APC 248,187.5

AOC 10,050.97

Total 2,454,129.82

Grants

Total 3,616,051.32 Additional 71,057.29

Employment Support Costs 10,336.00

Legal Fees 12,222.71

Training 12,942.23

Insurance 14,301.01

Membership Fees Paid 19,835.63

Consultancy Fees 29,467.42

Int'l Camps 40,338.66

Telephone, Fax, Internet,sundry 69,511.81

Office 69,735.20

Affiliate Support 80,000.00

Meeting Expenses 82,908.06

Advertising & Promotion 103,808.99

Local Comps 107,524.07

Local Camps 136,315.19

Payroll 690,246.36

Int'l Comps 2,065,500.69

Expenses

Elite Indigenous-Sport Clay 891.35

Sport Connect Transition 15,000.00

WIS Media 28,000.00

Sport Dev 76,200.00

NTID 110,000.00

Green & Gold 200,000.00

Additional HP Funding 400,000.00

HP Grant 1,349,800.00

Total 2,179,891.35

Break up of ASC Grants

Highlights from ISSF World Cup, Sydney 21 March - 1 April, 2011

Highlights from ISSF World Cup, Sydney 21 March - 1 April, 2011

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Hi-Performance Report

The following chart shows the score required to gain a place on a team prior to 2006 against those required by the USA Team and the post 2006 Australian Performance Qualification Score (PQS) requirement. The scores from the last world championship (BME) are included for comparison.

MEN Possible USA AUS Pre AUS World Finals score Qualify 2006 QS PQS Post Champs cut-off Score Sep 2006 Win Score score 2006 2010-2011

Skeet: 125 123 119 121 125 123Trap: 125 121 118 121 123 122+4+6Double Trap: 150 141 134 140 147 145+3650m 3P Rifle 1200 1174 1155 1166 1178 117250m Rifle Prone: 600 597 595 595 599 59810m Air Rifle: 600 597 590 595 599 59610m Air Pistol: 600 586 582 582 590 58250m Pistol: 600 566 560 561 562 56225m RF Pistol: 600 580 576 580 587 581 WOMEN 50m 3P Rifle 600 585 573 580 589 58110m Air Rifle: 400 398 393 396 400 39710m Air Pistol: 400 386 383 383 386 38325m Pistol: 600 587 582 582 588 583Skeet: 75 71 68 70 74 72+4Trap: 75 70 67 69 73 72+3

Overview of HP

The focus 2016 squad make up

Since the introduction of the higher PQS the number of athletes reaching these scores have increased as per the table below:

Number Total achieving PQS PQS achieved

2006 1 Rifle 32011 6 Rifle 21 2006 4 Shotgun 42011 15 Shotgun 31 2006 2 Pistol 32011 4 Pistol 15

Discipline Athletes2006 Rifle 2 2011 Rifle 8 2006 Shotgun 4 2011 Shotgun 10 2006 Pistol 32011 Pistol 7

Four of these will make the 2012 Games at the current rate. Of this squad, 6 Pistol, 14 Rifle and 12 Shotgun athletes are in the top Ten Australian Rankings in their respective disciplines.

We currently have 3 Able bodied athletes in the IF (ISSF) top ten list; viz., Lalita Yauhleuskaya (3) in 10m Air Pistol Women, Michael Diamond (4) in Trap Men and Catherine Skinner (8) in Trap Women.

In the Disability sector our reckoning on true rankings would have Australia with 4 in the top Ten also; viz., Ashley Adams, Jason Maroney, Bradley Mark and Libby Kosmala.



2012 -2016

As indicated previously the change in the awarding of Quota Places to the year prior the Games and the Full World Championship has seen a significant change in the level of competition with the resultant increase in qualification score level. The most significant increase occurred in the shotgun competitions, and as such, we were outgunned so to speak.

There is sufficient data to show that the PQS needs to be raised in some events, and this will be discussed at the next HP meeting.

Medal count was down in 2010 due to the top twenty in the world turning up to every competition as countries sought the Quota places on offer.

The reliance on Australia’s older competitors was tested and at this stage the majority of the Focus 2016 squad are not ready for the take up, albeit performances are fast catching the senior group with some notable performances across all three Olympic disciplines. The middle group, which is between the top two in each and the focus 2016 shooters have failed to demonstrate any significant improvement over the past years.

Australia will field a team of 16-17 competitors in the Olympics with 3 medal chances and at the Paralympics we will field 4-5 athletes with 4 of those capable of medals.

2016 Rio athletes will come from the Focus squad.

PPP Pistol Rifle Shotgun

(Medals by Discipline)

2010-2011 (34)

2006-2011 (76)

126

1567

51

15

16

18

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In presenting this report, it is worth remembering that AISL is primarily focussed on High Performance, and is indeed funded to that end. The Australian Sports Commission being the primary sponsor and funding agency.

The Strategic Plan (2008-2011) covered four areas of major importance; viz.: Sustainable High Performance Outcomes, Promotion and Image management, Develop Funding and Resources and Governance. As an overview and update, the following table shows where we are in relation to each of those Strategies.

November 2011 Report

1High performance KRA KRA KRA Comment

Review and revise athlete pathways

Joint Management HPP Committee agree basis of Structure

Published Increase in Focus 2016 squad from 11 to 25

Driven by AISL Coaches

Develop HP Coaching Structure

Implemented National coach. Reviewed & removed position which needs further development and resourcing

Pre elite Coordinator position established and filled by ESCG recipient who has since gained ISSF C, B and UQ cert. ISSF A to be completed 2012

Coaching Committee established and chaired by Pre-elite coordinator

Inaugural Coaching Conference held; 85 attendees over 2 days

Manage and Implement NCAS & NOAS accreditation

Single database achieved

Coaches reviewed and updated in line with correspondence detailing the changes. Having established a starting point the Input of data is to be handed back to NF/States Jan 2012

Advanced Level Course (old level 3).

Has been reviewed on two occasions and is now back on track to be completed late January 2012.

From my point of view, this process seems cumbersome from start to go

Effective TID from Non-traditional sources

Ambitious project KPI’s unrealistic able-bod numbers with insufficient resources

Good results in the disability sector



2Promotion and Image KRA KRA KRA Comment

Develop processes and resources to maximise media opportunities

Appointment of external web management and publishing

Engagement of professional media group to handle stakeholder and media coverage. Social media well established with measured results. Greater awareness by stakeholders through this and increased press activities through all media forms.

Analytics and media monitoring established to measure integrity.

Facebook page, activeYou Tube Channel,Dartfish TV under way,Twitter operational,Disability Brochures and General purpose promotional brochures distributed.Inclusive Toolkit book for shooting published.

Collect and Collate demographic info

Confirm general statistics required by ASC

Not achieved due mainly to the manner in which member bodies receive information. Current information obtained from informed sources.

Develop processes for lobby activities of AISL

Engage a lobbyist. The board reviewed this position but the reality (cost vs effectiveness) is not viable.

Established newsletter (Shot Circuit) now 2 monthly as a means of contacting Government, etc. which is less confronting.

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3Funding and Resources KRA KRA KRA Comment

Investigate Commercial and sponsorship/partnership

Established opportunities for co-branding with Marsh Insurance. Concept received well, but take up by members not high so income stream limited. Established relationship with Target manufacturer – again limited market

Sponsorship sought from various companies.

Tough market

National office staffing to resource Strat plan

Engaged Operations Manager - primary roles office & event support.

Review job descriptions and responsibilities with appointment of GM

Change to be completed in 2014

4 Governance KRA KRA KRA Comment

Identify Board Skills required

Identified Marketing and advertised. No take up. Reviewed and now seek expertise in disability sector.

Given increase in activity and the need to gain further credibility within the disability sector



PQS Overview

PQS @ Benchmark - Shotgun (World Championships Belgrade ) Event PQS Final Cut off vs PQS AVE Final CutTRAP MEN 121 122 made finals - Our PQS 10th 121TRAP WOMEN 69 72 made finals - Our PQS 19th 70DOUBLE TRAP MEN 140 145 made final - Our PQS 29th 142SKEET WOMEN 121 123 Made final - Our PQS 23rd 123SKEET MEN 70 72 made final - Our PQS 15th 71 PQS @ Benchmark - Rifle (World Cup Sydney ) Event PQS Final Cut off vs PQS AVE Final Cut10m AIR RIFLE WOMEN 396 397 made final - Our PQS 10th 395.610m AIR RIFLE MEN 595 595 made the final - 10 way s/off 595.650m 3 POS RIFLE WOMEN 580 581 made final - Our PQS 9th 581.650m 3 POS RIFLE MEN 1166 1165 made final 1168.850m PRONE RIFLE MEN 595 596 made final - Our PQS 9th 595.250m PRONE RIFLE WOMEN 592 No match PQS @ Benchmark - Pistol (World Cup Sydney ) Event PQS Final Cut off vs PQS AVE Final Cut10m AIR PISTOL WOMEN 383 383 made final 383.210m AIR PISTOL MEN 582 579 made final 580.825m PISTOL WOMEN 582 581 made final 580.250m PISTOL MEN 561 559 made final 559.625m RF PISTOL MEN 580 583 Made final - Our PQS 9th 580.625m STANDARD MEN 570 25m CENTREFIRE MEN 580

Team Size2011

ISSF World Cup Sydney 526 ISSF World Cup’s 50ISSF World Cup Finals 2ISSF World 15ChampionshipsCommonwealthGames 30

Below is a detailed outline of the above 6 world cups

ISSF World Cup Korea 7ISSF World Cup Fort Benning 5ISSF World Cup Munich 10ISSF World Cup Slovenia (S) 14ISSF World Cup China (S) 10ISSF World Cup Chile (S) 4Total 50

Coaches Committee Report

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The Coaches Committee has met twice this year, with the focus of meetings being initially to set a charter for how this committee will work. The following representatives from each member body have attended.

AISL Carrie Quigley PA Peter Heuke

TRA Tricia VanNus NRAA Alex Timms

ACTA Brian Bailey/ FGFA ProsVanderZalm Chris Gibson

The Coaches Committee has:•Reviewed the Club Coach and Competition Coach

Courses. The Committee agreed that the Courses remain relevant to the educational needs of new Coaches. They made recommendations for some small changes to the wording of the courses.

•Discussed Coach Education, and begun the process of sharing the content and educational material from each member body. Some member bodies are further along with this than others.

•Made some initial suggestions to the draft of the Advanced Coach Course, and will continue to add input to this course as it develops. It is expected that this Course will be available by the end of the year.

•Agreed that an AISL Coach Logbook that can be downloaded from the AISL Website would be a good resource for coaches, and reinforce their relationship with AISL as well as the member body they are affiliated with. (This will be available from the website soon).

•Would like to see the Coaches section on the AISL website more “user friendly” for coaches, with lots of information available. This will be something that AISL works toward over the next months, and develops over time to be a useful resource for coaches.

•The Coaches Committee will continue to meet, and address issues relating to coaching within AISL and the Member Bodies.

Carrie Quigley

AISL CoACheS ConferenCe,

Sydney, OctOber 2011

Pre Elite Development


Coaches Conference

AISL has undertaken to host a Conference for Coaches in the next financial year. Much of the preparation and ground work for the Conference has occurred this year, and we are pleased to report that it has been an extremely positive and well received event, with over 80 Australian Coaches from the Member Bodies registering to attend. Coaches have been assisted to attend with financial contributions from Member Bodies, State Associations, and Clubs. It is affirming to see such a high level of support for the ongoing education of Coaches from these areas.

After completing her Coaching Scholarship with the Australian Sports Commission earlier this year, Carrie Quigley has now taken on the role of Pre Elite Development Coordinator. This is a newly created position with Australian International Shooting, and its aims are to: •furtherdevelopandstrengthenthepathwaysfor

athletes to progress from club level shooting to the high performance level,

•supporttheeducationanddevelopmentofcoacheswithin Australia; and

•maintainAISL’scommitmenttoSportsConnectbyensuring that all talent development and coaching programs are inclusive of athletes with a disability.

Carrie will work with Australian Clay Target Association, Pistol Australia, Target Rifle Australia, National Rifle Association Australia, and Field and Game Federation of Australia to achieve these goals. Carrie began in this position in May 2011, and to date much of the focus has been on coach education, with her involvement in the following activities:

•coordinating,planningandorganisingtheCoachesConference–whichhasbeenmetwithgreatenthusiasm by many coaches,•organisingtheCoachesCommitteemeetings–

working with Coaching Directors of the Member Bodies to establish improved communication between them and AISL,•reviewingcoacheducation,•planningaseriesofPresentersandAssessors

training sessions which will be held next year in each state for coaches and officials.

Coach education and ongoing support is very important as good coaching is what athletes in clubs need to progress further in this sport.

Carrie has also been researching the range of development programs internationally in shooting sports, with the view to working with member bodies to integrate new ideas into Australian development programs. She has also spent time talking to a range of people within the Member Bodies about the Pre Elite Development role, and what she hopes to achieve in this position. Overwhelmingly, the reaction has been positive.

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Report on the Financial Report We have audited the accompanying financial report of Australian International Shooting Limited, which comprises the balance sheet as at 30 June 2011, and the income statement, statement of changes in equity and cash flow statement for the year ended that date a summary of significant accounting policies, other explanatory notes and the directors’ declaration.

Directors’ Responsibility for the Financial Report The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001 has been provided to the directors of Australian International Shooting.

Auditor’s Opinion

In our opinion the financial report of Australian International Shooting Limited is in accordance with the Corporations Act 2001, including: (a) giving a true and fair view of the

company’s financial position as at 30 June 2011 and of its performance for the year ended on that date; and

(b) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001.

Independent Audit Report to the members of Australian International Shooting Limited for the Year Ended 30 June 2011

Gray Perry DFKChartered Accountants

James W Perry89-92 South Terrace Adelaide

Financial Report


1. General information

a) Directors The names of the directors in office at any time during, or since the end of, the year are: Names Appointed/Resigned

CherylAnneArnol 01/07/2005Glenn Wallace O’Brien Resigned 13th April 2011RobertMalcolmMarshall 10/07/2005SharonReynolds 24/01/2008SusannahSmith 03/03/2008 Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

a) Principal Activities The principal activities of Australian International Shooting Limited during the financial year were to support competition shooting sports opportunities. No significant change in the nature of these activities occurred during the year.

2. Business review

a) Operating ResultsThe (deficit)/surplus of Australian International Shooting Limited for the year amounted to $490,129 2010:$(171,546).

3. Other items

a) Significant Changes in State of AffairsNo significant changes in Australian International Shooting Limited’s state of affairs occurred during the financial year.

b) After balance day events No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of Australian International Shooting Limited, the results of those operations or the state of affairs of Australian International Shooting Limited in future financial years. c) Auditors Independence DeclarationA copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out at page 29.

d) Rounding of amountsThe company is an entity to which ASIC Class order 98/100 applies and, accordingly, amounts in the financial statements and directors’ report have been rounded to the nearest one dollar.

Signed in accordance with a resolution of the Board of Directors:

Director: ..................................................................................

Director: ................................................................................

Dated this ............................. day of ......................... 2011

Your directors present their report on the company for the financial year ended 30 June 2011.

Directors’ Report

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The directors of the company declare that:

1. The financial statements and notes, as set out on pages 1 to 19, 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 2011 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 declaration is made in accordance with a resolution of the Board of Directors.

Director: ..................................................................................

Director: ................................................................................

Dated this ..............................day of ..........................2011

Directors’ Declaration


Financial Report

Income statementFor the year ended 30 June 2011 2011 2010Revenue 3,915,719 2,649,149 Other income 196,657 88,033 Employee benefits expense (719,235) (694,379) Depreciation, amortisation and impairments (25,150) (29,019) Competition and Training (2,250,903) (1,135,634)Other expenses (629,959) (1,049,696) Profit attributable to members 490,129 (171,546)

Balance Sheet30 June 2011 Note 2011 2010

ASSETS Current assets Cash and cash equivalents 2. 1,042,288 557,938 Trade and other receivables 3. 82,924 92,148 Inventories 4. 15,492 16,479 Total current assets 1,140,704 666,565 Non current assets Property, plant and equipment 5. 58,405 74,323 Total non current assets 58,405 74,323 TOTAL ASSETS 1,199,109 740,888 LIABILITIES Current liabilities Trade and other payables 6. 26,429 72,856 Short term provisions 7. 131,412 102,423 Other current liabilities - - Total current liabilities 143,371 175,279 TOTAL LIABILITIES 143,371 175,279 NET ASSETS 1,055,738 565,609 EQUITY Distributable Surplus 1,055,738 565,609 TOTAL EQUITY 1,055,738 565, 609

in $

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Financial Report

2011 Retained Earnings Total

Balance at 1 July 2010 565,609 565,609 Profit attributable to members 490,129 490,129 Transfers to and from reserves Sub total 490,129 490,129 Balance at 30 June 2011 1,055,738 1,055,738

2010 Retained Earnings Total

Balance at 1 July 2009 737,155 737,155 Profit attributable to members (171,546) (171,546) Transfers to and from reserves Sub total (171,546) (171,546) Balance at 30 June 2010 565,609 565,609

Statement of Changes in EquityFor the year ended 30 June 2011 in $


Financial Report

Cash Flow Statement For the year ended 30 June 2011 Note 2011 2010 Cash from operating activities: Receipts from customers 4,097,491 2,690,033 Payments to suppliers and employees (3,618,857) (2,948,780) Interest received 14,950 9,124 Net cash provided by (used in) operating activities 11 493,583 (249,623)Cash flows from investing activities: Sale of property, plant and equipment - -Acquisition of property, plant and equipment (9,233) (18,474) Net cash provided by (used in) investing activities (9,233) (18,474)Net increase (decreases) in cash held 484,350 (268,097) Cash at beginning of financial year 557,938 826,035 Cash at end of financial year 2 1,042,288 557,938

in $

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Financial Report

Summary of Significant Accounting Policies For the year ended 30 June 2011

1 Statement of Significant Accounting Policies

(a) General Information The financial report is a general purpose financial

report that has been prepared in accordance with Accounting Standards, Australian Accounting Inter-pretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corpo-rations Act 2001.

The financial report covers the economic entity of

Australian International Shooting Limited. Australian International Shooting Limited is a company limited by shares, incorporated and domiciled in Australia

The financial report of Australian International Shooting Limited complies with all Australian relevant equiva-lents to International Financial Reporting Standards (AIFRS).

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

(b) Basis of Preparation Reporting Basis and Conventions The financial report has been prepared on an accruals

basis and is based on historical costs modified by the revaluation of selected non current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied.

(c) Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

(d) Property, Plant and Equipment Each class of property, plant and equipment is carried

at cost or fair value less, where applicable, any accumu-lated depreciation and impairment losses.

Plant and Equipment Plant and equipment are measured on the cost basis.

Depreciation

The depreciable amount of all fixed assets is depreciated on a diminishing value basis over their useful lives commencing from the time the asset is held ready for use.

The depreciation rates used for each class of depreciable assets are:

Class of Fixed Asset Plant and Equipment 7.5% 40%

Office Equipment 7.5% 40%

The assets’ residual values and useful lives are re-viewed, and adjusted if appropriate, at each balance sheet date.

(e) Inventories Inventories are measured at the lower of cost and net

realisable value. The cost of manufactured products in-cludes direct materials, direct labour and an appropri-ate portion of variable and fixed overheads. Overheads are applied on the basis of normal operating capacity. Costs are assigned on the basis of weighted average costs.

(f) Financial Instruments Recognition Financial instruments are initially measured at cost

on trade date, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below.


Financial Report

Financial Assets at Fair Value through Profit and Loss

A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or if so designated by management and within the requirements of AASB 139: Recognition and Measure-ment of Financial Instruments. Realised and unrealised gains and losses arising from changes in the fair value of these assets are included in the income statement in the period in which they arise.

Loans and Receivables Loans and receivables are non derivative financial as-

sets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method.

Held-to-Maturity Investments These investments have fixed maturities, and the inten-

tion is to hold these investments to maturity. Any held to maturity investments held are stated at amortised cost using the effective interest rate method.

Financial Liabilities Non derivative financial liabilities are recognised at

amortised cost, comprising original debt less principal payments and amortisation.

Impairment At each reporting date, the company assesses whether

there is objective evidence that a financial instrument has been impaired. In the case of available for sale fi-nancial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recog-nised in the income statement.

(g) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, depos-

its held at call with banks, other short term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short term borrowings in current liabilities on the balance sheet.

(h) Employee Benefits Provision is made for the company’s liability for employ-

ee benefits arising from services rendered by employees to balance date. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled, plus related on costs.

(i) Provisions Provisions are recognised when the group has a legal

or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

(j) Income Tax

The entity is an exempt for tax entity for income tax purposes pursuant to section 50 45 of the ITAA 1997. Ac-cordingly no income tax obligation exists.

(k) Revenue Revenue from the sale of goods is recognised upon the

delivery of goods to customers. Interest revenue is rec-ognised on a proportional basis taking into account the interest rates applicable to the financial assets.

Revenue from the rendering of services is recognised

upon the delivery of the service to the customers.

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

(l) 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. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the balance sheet are shown inclusive of GST.

Cash flows are presented in the cash flow statement on

a gross basis, except for the GST component of invest-ing and financing activities, which are disclosed as operating cash flows.


24

Financial Report

(m) Rounding of Amounts The company has applied the relief available to it under ASICClassOrder98/100andaccordingly,amountsinthe financial report and directors’ report have been rounded off to the nearest $1.

(n) New Accounting Standards for Application in Future Periods

The AASB has issued new and amended standards and interpretations that have mandatory application dates for future reporting periods and which the company has not adopted early. A discussion of those future require-ments and their impact on the company is as follows:

• AASB 2009-12: Amendments to Australian Account-ing Standards [AASBs 5, 8, 108, 110, 112, 119, 133, 137,139,1023&1031andInterpretations2,4,16,1039&1052](applicableforannualreportingperiodscommencing on or after 1 January 2011).

This Standard makes a number of editorial amend-

ments to a range of Australian Accounting Standards and Interpretations, including AASB 108: Accounting policies, Changes in Accounting Estimates and Errors and AASB 1031: Materiality. These editorial amend-ments have no major impact on the requirements of the respective amended pronouncements.

•AASB 2010-4: Further Amendments to Austral-ian Accounting Standards arising from the Annual ImprovementsProject{AASBs1,7,101&134andInterpretation13](applicableforannualreportingperiods commencing on or after 1 January 2011).

This Standard details numerous non-urgent but necessary changes to various Accounting Standards, including AASB 101 and AASB 108, arising from the IASB’s annual improvements project. These changes are not expected to have a major impact on the pres-entation of the company financial report. Key changes include:

• amending AASB 101 to the effect that disaggrega-tion of the changes in each component of equity arising from transactions recognised in other comprehensive income is required to be present-ed, but is permitted to be presented in the state-ment of changes in equity or in the notes.

The company does not anticipate early adoption of any of the above reporting requirements and does not expect these requirements to have any material effect on the company’s financial statements.



Financial Report

2 Cash and Cash Equivalents 2011 2010

Cash at bank 1,042,288 557,938 1,042,288 557,938

Reconciliation of Cash

2011 2010

Cash at the end of the financial year as shown in the cash flow statement is reconciled to items in the balance sheet

as follows: Cash and cash equivalents 1,042,288 557,938

1,042,288 557,938

3. Trade and Other Receivables

2011 2010

CURRENT Trade receivables 82,924 92,148 82,924 92,148

NON CURRENT

4 Inventories

2011 2010

CURRENT At Cost Merchandise 15,492 16,479

15,492 16,479

5. Property Plant and Equipment

2011 2010

PLANT AND EQUIPMENT Furniture, fixture and fittings At cost 17,349 14,842 Less accumulated depreciation (7,707) (5,601) Total furniture, fixture and fittings 9,642 9,241

Notes to the Financial StatementsFor the year ended 30 June 2011

in $

26

Financial Report


Diagnostic Equipment At cost 8,195 8,195 Less accumulated depreciation (7,987) (7,850) Total Diagnostic Equipment 208 345 Office equipment At cost 190,280 187,373 Less accumulated depreciation (164,381) (149,652) Total office equipment 25,899 37,721 Web Page Development At cost 11,812 11,812 Less accumulated depreciation (11,739) (11,695) Total Web Page Development 73 117 Target Equipment At cost 192,124 192,124 Less accumulated depreciation (174,113) (167,270) Total Target Equipment 18,011 24,854 Firearms At cost 10,673 6,854 Less accumulated depreciation (6,101) (4,810) Total Firearms 4,572 2,044 Total plant and equipment 58,405 74,322 Total property, plant and equipment 58,405 74,322

5.1 Movements in Carrying Amounts Diagnostic Furniture, Office Website Target Equipment Fixtures Equipment Development Equipment and Fittings

Current Year Balance at the beginning of year 345 9,241 37,721 117 24,854 Additions - 2,507 2,908 - - Other changes, movements (137) (2,106) (14,729) (44) (6,843) Carrying amount at the end of year 208 9,642 25,900 73 18,011

2011 2010

in $


Financial Report

Current Year Firearms Total

Balance at the beginning of year 2,044 74,322 Additions 3,818 9,233 Other changes, movements (1,291) (25,150) Carrying amount at the end of year 4,571 58,405

6 Trade and Other Payables

2011 2010

CURRENT Unsecured liabilities Trade payables 17,237 43,193 Other payables 9,192 29,663 26,429 72,856

7 Provisions

Employee Total entitlements

Opening balance at 1 July 2009 102,423 94,954 Additional provisions 28,989 7,469 Balance at 30 June 2011 131,412 102,423

Analysis of Total Provisions 2011 2010

Current 131,412 88,922 131,412 88,922

8 Other Liabilities Current

2011 2010

Other deferred income - - Total - -


in $

28

Financial Report

9 Members’ Guarantee

The company is limited by guarantee. If the company is wound up, the Constitution states that each member is required to contribute a maximum of $100 each towards any outstanding obligations of the company.

10 Auditors’ Remuneration

Remuneration of the auditor of the company for: 2011 2010

Auditing or reviewing the financial report 7,225 8,580 Other services - -

11 Cash Flow Information 11.1Reconciliation of Cash Flow from Operations with Profit after Income Tax

2011 2010

Net income/loss for the period 490,129 (171,546) Cash flows excluded from profit attributable to operating activities Non cash flows in profit Depreciation 25,150 29,019 changes in assets and liabilities, net of the effects of purchase and disposal of subsidiaries (Increase)/decrease in trade and term receivables 65 (29,340) Increase/(decrease) in trade payables and accruals (50,750) (85,225) Increase/(decrease) in provisions 28,989 7,469 493,583 (249,623)

12 Company Details

12.1Registered office

The registered office of the company is: Australian International Shooting Limited 2A Jetty Road BRIGHTON SA 5048


in $


Financial Report

Auditors Independence Declaration under Section 307C of the Corporations Act 2001 I declare that, to the best of my knowledge and belief, during the year ended 30 June 2011,

there have been:

(i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in

relation to the audit; and

(ii) no contraventions of any applicable code of professional conduct in relation to the audit.

Gray Perry DFKChartered Accountants

James W Perry

1st Floor 89 – 92 South Terrace

Adelaide SA 5000

MARSH Insurance Report

30

For the period 30 September 2010 to 30 September 2011 Introduction

Income SummaryCommercial Business 30 September 2008 to 30 September 2009

Number of policies YTD Premium Earned YTD Net Income to AISL YTD

44 $101,339.85 $2,496.97

Commercial Business 30 September 2009 to 30 September 2010Number of policies YTD Premium Earned YTD Net Income to AISL YTD

78 $157,993.32 $7,312.94

Commercial Business 30 September 2010 to 30 September 2011Number of policies YTD Premium Earned YTD Net Income to AISL YTD

61 $120,768.33 $5,179.64

Private Business 30 September 2008 to 30 September 2009Number of policies YTD Premium Earned YTD Net Income to AISL YTD

23 $28,692.38 $936.61

The purpose of this report is to provide the Australian In-ternationalShootingLtd[AISL]asnapshotoftheInsur-

ance Services provided to members year to date, news and developments. Included in the report is an activity summa-ry detailing number of policies that have been bound, gross written premium and net income to the AISL. Contained herein is our update on the program participa-tion data, and the marketing and communications brochure delivered in June 2011 to all Firearm Dealers in Australia. We have seen an increase in cancelled policies over the past twelve months due to members placing their business elsewhere and market rate reductions, added to this two members of AISL have not supported the facility regardless of premium savings.

Currently we are reviewing the renewal placement for the period2011–2012duetopossiblechangeswithrelationto underwriters. This may include a decrease in limits and a higher level of security requirements being introduced under the new guidelines. Members who only have Public and Products Liability insurance will be automatically offered Personal Accident and Business Insurance quotations which should see an increase in premium volume over the next period. We would be happy to receive any feedback as to your thoughts on the insurance program and any ideas that you may wish to implement in to the program in the future.

MARSH Insurance

Report


Marketing The AISL scheme has not been utilised fully by members, this combined with the Global Financial Crisis has seen many clients reduce their insurance spend or lapse policies.

In June 2011 we produced the attached brochure that was distributed to over 400 Firearm Dealers in Australia. This will introduce new business to the scheme over the next twelve months. The online Domestic Travel product via AISL’s website has yet to be completed. When established, this product will add value to membership of AISL and increase participation rates.

Activity for the next period will include:

Event Activity Due Date

Private Client New OfferingServices Campaign November 2011 Travel Product Update AISL website December 2011

ClaimsWith the exception of Travel Insurance, all portfolios have run well during the period 30 September 2010 to 30 September 2011.

The loss ratio for Travel Insurance is poor due to three claims for approx. $8,500.

Type of Insurance Loss Ratio

Property Insurance NilPublic&ProductLiability NilPersonal Accident NilTravel Insurance 89%Associations Liability NilPrivate Client Services 52%


27 $22,463.66 $1,012.38


26 $23,555.50 $834.85

Total Number of Policies and Income 30 September 2010 to 30 September 2011Total Number of policies Cancelled Policies Premium Earned Income to AISL

87 11 $144.323.83 $6,014.49


105 3 $180,456.98 $7,325.32


67 0 $130,032.23 $3,433.58

Notes

AISL would like to thank its sponsors for their continued support.

2A Jetty Road, BRIGHTON SA 5048

Mail to PO Box 375, Brighton SA 5048tel +61 8 8296 0951, fax +61 8 8296 0937, email [email protected] www.ausshooting.org

Documents

AISL Annual Report 2010-11