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ANNUALREPORT
2018
PRINCIPAL PARTNERBoxing Australia would like to acknowledge and thank our principal partner, the Australian Sports Commission, for their ongoing support of Boxing in Australia.
MAJOR SPONSORBoxing Australia is proud to be associated with Sting International and to have them as our Major sponsor in the lead up to the Tokyo Olympics.
4 ANNUAL REPORT 2018
AFFILIATIONS:
Ted Tanner President
Julia Felton Director
Jim Ferguson Director
Johan Linde Director
Dean Groth Director
Dr Garry Moore Director
AIBA INTERNATIONAL BOXING ASSOCIATION
AUSTRALIAN OLYMPIC COMMITTEE
COMMONWEALTH GAMES AUSTRALIA
BOARD OF BOXING AUSTRALIA
MEMBER ASSOCIATION REPRESENTATIVES Theresa Warwick – Boxing Australian Capital Territory Sean Fitzpartick – Boxing Australia (New South Wales)Byron Davis – Boxing Northern TerritoryMark Evans - Boxing QueenslandAllison Goodes – Boxing South AustraliaScott Bailey – Boxing TasmaniaDavid Cutting – Boxing VictoriaGeoff Peterson – Boxing Western Australia
MANAGEMENT Joshua O’BrienChief Executive Officer and Company Secretary
Erin WilliamsNational Finance Administrator
Kevin SmithNational Head Coach
Don AbnettNational Development Coach
Paul PerkinsNational Development Manager
Jamie PittmanNational TID / Development Coordinator
BOXING AUSTRALIA MEMBERSBoxing ACT
Boxing Australia (New South Wales)
Boxing Northern Territory
Boxing Queensland
Boxing South Australia
Boxing Tasmania
Boxing Victoria
Boxing Western Australia
Ted Tanner (President)Garry MooreJim FergusonJulia FeltonDean GrothJohan LindeKirsteen MacLeanJack Pappas
Josh O'BrienCEO & Company Secretary
Erin WilliamsNational Finance Administrator
Kevin SmithNational Head Coach
Don AbnettNational Development Coach
Jamie PittmanNational TID Coaching Coordinator
Paul PerkinsParticipation Manager
Georgia NidermeierNational Administrator
ANNUAL REPORT 2018 5
PRESIDENT’S REPORTBoxing Australia has had another busy year.
The Australian Amateur Boxing Union, Boxing Australia’s predecessor association, was formed in 1924 and at times I hear people talk of Australian Boxing having experienced ‘Golden eras’ in previous years, however, I believe that Australian Amateur Boxing in recent times has never been so active competition-wise and Sport development-wise.
And, increasingly we are having international success. The achievement of the Australian Elite Men’s and Women’s Boxing Team in winning 8 medals at the Gold Coast Commonwealth Games was a record medal haul – it is twice as many medals as the previous Australian Boxing Team record medal haul in the 88 year history of the Empire/Commonwealth Games.
In the last year, as well as in the Commonwealth Games, Australian Amateur Boxing was represented by Teams in the 2017 Women’s Youth World Championships (Guwahati, India), the 2018 Men’s and Women’s Oceania Youth Championships (Apia, Samoa), the 2018 Men’s and Women’s Youth World Championships (Budapest, Hungary), the 2018 Youth Olympic Games (Buenos Aires, Argentina) and the 2018 Women’s Elite World Championships (New Delhi, India).
The participation of Australian Teams in these and other international competitions during the year will be detailed elsewhere in Boxing Australia’s Annual Report.
During the year there were some outstanding performances, the most successful coming from Skye Nicolson (Gold Medal – U 57 kg), Anja Stridsman (Gold Medal – U 60 kg), Harry Garside (Gold Medal – U 60 kg), Caitlin Parker (Silver Medal – U 75 kg), Jason Whateley (Silver Medal – U 91 kg), Taylah Robertson (Bronze Medal – U 51 kg), Kaye Scott (Bronze Medal – U 69 kg) and Clay Waterman (Bronze Medal – U 81 kg) at the 2018 Commonwealth Games, Ella Boot (Bronze Medal – U 60 kg) at the 2017 Women’s Youth World Championships and four boxers into the final 8 in their weight categories at the 2018 Elite Women’s World Championships capped off with a Bronze Medal for Kristy Harris in the U 54 kg weight category.
And, our Australian Men’s and Women’s Youth Team boxers won Gold in eleven of the twelve contested weight categories at the 2018 Oceania Youth Continental Championships.
Major tournaments Boxing Australia conducted, from which these Australian Teams were selected, were the 2017 Men’s and Women’s Elite Australian Championships (Sydney), the 2018 Women’s Elite Australian Team Selection Trials (Perth) and the U19/U17/U15 Australian Championships (Perth).
On behalf of the Boxing Australia Board I thank the Host Member Associations of these tournaments (Boxing Australia NSW and Boxing Western Australia) and their volunteers, as well as the participating R&J from across Australia, for their great help in making these tournaments successful.
The Boxing Australia Board, in conjunction with Sport Australia and Commonwealth Games Australia, are planning that the success we are experiencing is built upon so that greater success - and Gold Medals - will be achieved in 2020 in Tokyo, 2022 in Birmingham and 2024 in Paris.
However, this will require not just the Board and Member Associations but all of us to think ‘strategically’ – that is, to think and act in the best interests of Australian Boxing and, also, to continue our support and development of Australian Women’s Boxing.
For Boxing to achieve this success will necessitate not only continued talent identification and development of Boxers but, also, development of the numbers and expertise of both our Coaches and our Referees and Judges.
During 2018 our Member Associations approved a revamp of Boxing Australia’s High Performance Program and, in association with the implementation of the revamp
6 ANNUAL REPORT 2018
in 2019, improved Coach and R&J Development programs and opportunities for international experience for Coaches and R&Js will be provided.
I wish to acknowledge the significant financial support of our Sport by Sport Australia and our appreciation of the valuable expertise and work of its Australian Institute of Sport Combat Centre staff to our Sport. Australian Amateur Boxing couldn’t be at its present level – which ‘international-wise’ I believe is top 20 – without this support. Our ‘goal’ is to move to a ‘Top 10 Boxing Nation in the World’ position and to be ‘Number 1’ in the Commonwealth.
The very generous financial support of Commonwealth Games Australia is, also, gratefully acknowledged. I believe that CGA is very impressed with our Australian Boxing Team’s 8 medal ‘haul’ on the Gold Coast.
And, the assistance of the Australian Olympic Committee to our sport men and women - it sends our boxers and coaches to the Olympic and Youth Olympic Games - is always gratefully received and appreciated.
I thank STING, our equipment and apparel sponsor, for its continued support of our Sport in Australia (and worldwide).
Thank you to Boxing Australia’s staff for their professionalism, ever cheerful personalities and long hours of work; Josh O’Brien our CEO, our National Administrator Erin Williams, Georgia Niedermeier during Erin’s maternity leave, Kevin Smith our National Coach, Don Abnett our National Development Coach, Jamie Pittman our National Regional Development Coach, and Paul Perkins our Participation Manager.
And, I thank our Board members; Jim Ferguson, Julia Felton, Garry Moore, Dean Groth, Johan Linde, Kirsteen Maclean and Jack Pappas, as well as Samantha Cowan (who resigned during the year), for their generous contributions of time and help in conducting our Sport.
We have an important lead-up period to the Tokyo Olympic Games now quickly approaching – I wish all our Boxers the greatest success in their endeavours in this time.
With good wishes to all participants in our Sport,
Ted Tanner
ANNUAL REPORT 2018 7
7
CHIEF EXECUTIVE OFFICER’S REPORT
2017/18 was a year of great success in and out of the ring. Headlined by the Elite World Championships Bronze medal won by Joe Goodall and the most medals won by an Australian team at a Commonwealth Games, winning 8 at Gold Coast 2018. The Commonwealth Games result is a real credit to the High Performance Centre of Excellence Program, with the 5 women on the team each winning a medal. I would like to acknowledge the support of the Australian Institute of Sport and Sport Australia, and a special thanks to Andrew Pratley, Michael Steinebronn and the AIS Combat Centre team for their support during the year. The High Performance Program’s focus now turns to Tokyo Olympics qualification, which, like 2016, is sure to be challenging however I am confident that given recent form that our boxers will be well represented in 2020.
Following the Commonwealth Games, a comprehensive review of the BAL High Performance Program was conducted in an effort to build off the back of the recent success. The introduction of the new sub/pre-elite Futures Program is an exciting time for Boxing in Australia, which will identify and develop our international medallists of the future. Thank you to Craig Phillips and the Commonwealth Games Australia team for their vital support of this program.
A major focus this year was improving the efficiency of BAL’s operations in several key areas, including finance, IT and competition management. Streamlining several of our processes has allowed the staff more time to focus on developing other important areas of our sport. Addressing communication breakdowns between BAL and stakeholders has been a big focus, thank you to the Member Associations for their cooperation as we work towards improving this important area of the organisation. I am looking forward to some new initiatives getting off the ground in 2018/19, including a new 2019-2022 Strategic Plan.
Thank you to the staff for their hard work and dedication over the year; Kevin Smith, Don Abnett, Jamie Pittman, Erin Williams, Georgia Niedermeier, Paul Perkins and Paulo Cruise. Thank you also to President Ted Tanner and the Directors of the Board for their tireless work.
It is an exciting time to be involved in Australian boxing, and I look forward to continued progress in 2018/19.
Josh O’Brien
8 ANNUAL REPORT 2018
HIGH PERFORMANCE
STATE GOLD SILVER BRONZE
Commonwealth Youth Games, Bahamas, July 2017 1 2 1
Men’s World Championships, Hamburg, August 2017 1
Ahmet Comert, Turkey, September 2017 1
Silesian Open, Poland, September 2017 1 1
Boxam Youth, Spain, September 2017 1
Celtic Cup, Ireland, September 2017 3
Youth World Championships, India, November 2017 1
NZ Dual Match, Dec 2018 3 7
Feliks Stamm, Poland, March 2018 1 1
Commonwealth Games, Gold Coast, April 2018 3 2 3
Youth Oceania, Samoa, May/June 2018 11 1
21 13 8
4Bahamas
1
Hamburg
4
Poland
1Turkey
1Spain
3Ireland
1India
10New Zealand
8Gold Coast
Samoa 12
ANNUAL REPORT 2018 9
During the year there were some outstanding performances, the most successful coming from:
Skye Nicolson (Gold Medal – U 57 kg), Anja Stridsman (Gold Medal – U 60 kg), Harry Garside (Gold Medal – U 60 kg), Caitlin Parker (Silver Medal – U 75 kg), Jason Whateley (Silver Medal – U 91 kg), Taylah Robertson (Bronze Medal – U 51 kg), Kaye Scott (Bronze Medal – U 69 kg) and Clay Waterman (Bronze Medal – U 81 kg)
at the 2018 Commonwealth Games,
Ella Boot (Bronze Medal – U 60 kg)
at the 2017 Women’s Youth World Championships
and four boxers into the final 8 in their weight categories at the 2018 Elite Women’s World Championships capped off with a Bronze Medal for Kristy Harris in the U 54 kg weight category.
And, our Australian Men’s and Women’s Youth Team boxers won Gold in eleven of the twelve contested weight categories at the 2018 Oceania Youth Continental Championships.
TRAINING CAMP LOCATION
CoE Training Partners Camp, August 2017 AIS
Elite Women HP and Youth Women World Championship Preparation Camp, October 2017 AIS
Boxing CWG shadow Team Camp, December 2017 AIS
Pre-Commonwealth Games Camp 1, February 2018 Philippines
Pre-Commonwealth Games Camp 2, February 2018 Colorado/Philippines
CWG Preparation Camp with Internationals, March 2018 (India, N. Ireland, Nauru, NZ, PNG & Wales) AIS
10 ANNUAL REPORT 2018
COACHING
2018 has been an exceptional year for boxing in Australia, under the guidance of Head Coach Kevin Smith, Australia’s performance in the ring this year has been outstanding topped off by the performance of the Australian team at the Commonwealth Games.
These great performances, I believe can be attributed to the dedicated and passionate “home gym” coaches that give their time and expertise to the sport of boxing. Day in day out, opening their gyms, working mostly in a voluntary role, for the benefit of the community. Throughout Australia there are 970 accredited level one coaches and 78 level two coaches and Boxing Australia wishes to recognise the valuable input these coaches provide.
With the help of the BA staff and the National coaching team we have achieved great progress in establishing a coach education framework that will give, not only our high performance coaches, but also our “grass roots” coaches a clear pathway to achieving their personal goals.
Immediately after the Commonwealth Games Boxing Australia underwent a High Performance Review. Contained in that review a recommendation to rethink the “Coaching Structure”. The report recommended that Boxing Australia adopt a new and clearer coaching structure that would broadly have three positions:
National Head Coach
National Futures Coach
Regional Futures Coaches
The recommendations of the report were accepted by the Member Associations at a forum held in Perth at the Australian U19 Championship. To that end, Boxing Australia and the High Performance Committee have been working toward implementing the recommendations and setting up the new “framework” for coaching in Australia.
After a global search for suitable coaches to fulfil the role of the National Futures Coach, the High Performance Committee has after an extensive selection process, selected Mr Jamie Pittman as the best applicant to become our new National Futures Coach. Jamie brings an enormous wealth of experience at all levels of boxing to the role.
Congratulations Jamie.
The next stage to the restructure is to attract and identify suitable coaches who will work with Head Coach Kevin and Coach Jamie as “Regional Futures Coaches”.
970accredited level
one coaches
78accredited level
two coaches
1.
2.
3.
ANNUAL REPORT 2018 11
11
What’s next?Once the new coaching structure is in place the
Coaching Committee will be working toward the
following goals:
2.
The new Level Three accreditation course is being reviewed by the
Sports Commission for endorsement.
Next year we hope to continue to develop a structured approach to coach education and
development.
1.
Aligning the 3 levels of coach qualification with a nationally recognised vocational qualification.
In the next 12 months following the endorsement of the Level Three Coach qualification year we will be working towards aligning the three levels of coaching accreditation with a nationally recognised vocational qualification such as the
Certificate III in Fitness.
3.Continuing Coach
Education.
The BAL staff have worked on establishing an updated database of coaches in Australia. Now that this has been achieved we will start a process of communicating with coaches Australia wide. This will keep all our coaches informed
and up to date.
Finally, on a personal note, for me this year
has been extremely busy, however my highlight was the
Commonwealth Games, not only the great success in the ring, but I had
the privilege to volunteer at the International Training Facility and was able to witness some of
the world’s leading coaches train their national teams. What I learnt from this, is that, what we do in Australia is
equally professional (if not better) than the top nations. This means that the future of boxing in Australia is in good hand.
Regards
Dean
ANNUAL REPORT 2018 11
12 ANNUAL REPORT 2018
ANNUAL REPORT 2018 13
REFEREES & JUDGES COMMITTEE CHAIRMAN’S
REPORT Over the past 12 months the R&J Committee continue to implement activities, embark on projects, oversee the conduct of R&J at BAL events, conduct National upgrade assessments, coordinate AIBA upgrade assessments and pleasingly, see the selection of our R&J to AIBA events. R&J Accreditation. Following commitment and funding from the BAL Board, the BAL R&J Coach has proactively worked with MA’s to conduct Australian 3-Star accreditation upgrades. During this reporting period 1 x SA R&J, 1 x WA R&J, 5 x QLD R&J and 4 x VIC R&J have been successfully upgraded to Australian 3-Star level. R&J seminars/refreshers. Seminar and refresher PowerPoint presentations are continually being updated and are provided to all MA R&J Coords to ensure standardisation and consistency of learning. R&J Database. The database is undergoing a complete upgrade to make it ‘web-based’. This will enable MA’s to manage their content and provide better access capabilities. This is a large project and will take some time. AIBA assessments. AIBA has continued to provide opportunities for our R&J to be assessed at varying competitions throughout the World with Australian R&J taking up this opportunity. Super Quattro. The Super Quattro (4 boxers/4 bouts/4 days) was sadly discontinued after its success. AIBA selected R&J for AIBA international events. During this reporting period Australian R&J have officiated at the World Series of Boxing (WSB), Commonwealth Games, Asian Games, South Pacific Mini Games, OCBC World Youth Championship qualifier, Youth Men and Women World Championships and Elite Women World Championships. Future activities The R&J Committee see a number of challenges going forward and will continue to work with the BAL Board to improve R&J standards. Some of the identified challenges, however, not conclusive, are:
• Continue to review and update R&J introductory judge and referee presentations and refresher presentations.
• Move the R&J Database to a web-based capability.
• Attend MA refresher seminars to ensure standardisation of content.
• Align our performance to meet the BAL Strategic Plan.
• Conduct training/assessment to MA R&J to upgrade to Australian 3-Star accreditation.
• Conduct training to up-skill MA Supervisors, with help from MA’s.
In closing, I would like to extend my thanks to the current and past R&J Committee members, Dean Groth and Steve Warn for their support, drive and commitment over the last 12 months. Furthermore, I’d like to thank the BAL Board, CEO and support staff for their support and confidence in me as Chair. Wayne Rose
Chair, BAL R&J Committee
– Emma Lawson represented Australia
ANNUAL REPORT 2018 13
WOMEN’S BOXING IN AUSTRALIA 2016-2017
Women’s boxing is still growing strongly across Australia with an increased number of women registered across Australia.
During the 2017-18 year there have been some great results internationally for Australian women such as:
2017 Youth Commonwealth Games - Ella Boot 60kg won Gold
2017 Youth World Championships - Ella Boot 60kg won Bronze
2018 Youth Olympic Games – Emma Lawson represented Australia
2018 Youth Oceania - Sophie Ingledew, Brittany Roll, Emma Lawson, and Caitlin Beckett won Gold. Monique Suraci qualified for Youth Worlds but had no opponent at Oceania.
2018 Feliks Stamm - Adriana Smith 51kg won silver and Jessica Rettalack 60kg won Bronze
2018 Commonwealth Games - Anja Stridsman and Skye Nicolson won Gold; Caitlin Parker won Silver and Kaye Scott and Taylah Robertson won Bronze. An amazing result for the Australian women all 5 that competed won a medal.
2017-18 saw the accreditation of 131 female coaches and 3 female R&J at the AIBA level. Ann Tindall qualified as an AIBA International Technical Officer in 2018.
During 2017-18 the use of the Combat Centre for longer term training camps has resulted in greater success for our women. Both Kristy Harris and Anja Stridsman benefited from the access to the Sport Medicine team and Strength and Conditioning team to overcome severe injuries.
In September 2018 AIBA held its first Gender Equity Forum in Bulgaria. The following women from Australia attended; Alison Goodes, Ann Tindall, Kirsteen MacLean and myself. It was a great honour to represent Australia at the event and we all came away with great learnings.
In April and September 2018, I attended meetings of the AIBA Women’s Commission which were very productive and we are hopeful that our recommendations will be adopted by the AIBA Executive. Our first major success was the election of 4 women to the AIBA Executive Committee in November 2018. Gay Uera, from Naru, was elected from the Oceania region.
2018 marked my 8th year working on the AIBA Women’s Commission and I would be honoured if I were to be nominated again to represent Australia. The Women’s Commission has had many successes with women included in the Olympics, an increased number of weight divisions from 3 to 5 and women now fight 3x3 rounds. There is still a lot of work to be done. In 2019 we hope to be able to hold an Oceania Gender Equity Forum if we can get the funding.
Overall Women’s boxing in Australia is becoming stronger and more successful each year. I believe all the Member Association Committees now have women on them. We are continuing to work to increase the number of women RJ and coaches. AIBA wants to increase the not only the number of AIBA qualified RJ and coaches but also the number of AIBA International Technical Officers and Administrators.
131accredited female
coaches
3 emale R&J at the AIBA level
14 ANNUAL REPORT 2018
REPORT BY THE FORMER CHAIRPERSON OF THE ANTI-DOPING AND MEDICAL STANDING COMMITTEE
In June of this year, I resigned after serving for some six years as the Chairperson of BAL’s Anti-Doping and Medical Standing Committee. Over much of the last six years, Mr Alan Baker and Dr Peter Stickler served with me on the Committee. I would like to take this opportunity to again publicly thank them for their valuable contributions to the work of the Committee. Boxing in Australia is indeed fortunate to secure the services of volunteers such as Alan and Peter in the administration of the sport.Over the course of my years on the Committee, much of its time was taken up in reviewing and determining applications by boxers for approval to return to sparring and boxing after KOs and RSCs following head blows. During my time as Chairperson of the Committee, it dealt with over 50 of such applications; ultimately approving of 47 of them. Between the date of the last BAL AGM and the date of my resignation, the following three applications were received and approved by the Committee:
November 2017: Mr Luke AdamsApril 2018: Mr Thomas RoohanApril 2018: Mr Bilal Hilwa.
As stated from time to time in its previous Annual Reports, the Committee takes all applications for approval to return to sparring and boxing very seriously; as indeed it must. The Committee owes a duty of care to all those boxers concerned to minimise the risks to their health associated with their return to active participation in our sport after suffering KOs and RSCs. This duty of care carries with it significant legal implications. More importantly, its proper discharge is vital to the health and wellbeing of our boxers. It is a duty which the Committee endeavours to discharge diligently and to the best of its collective ability.In addition to the processing of return to sparring and boxing approval applications, the Committee during my time as Chairperson revised relevant provisions in BAL’s Technical and Competition Regulations; largely in response to changes to AIBA’s regulatory requirements. It also provided advice on request with respect to a wide range of issues relating to the intersection of boxing and medicine. These issues included, but were by no means limited to, the places in boxing of:• boxers who were actually or possibly HIV or
Hepatitis positive;• transgender boxers;• boxers with breast implants; and• boxers with pacemakers and like implanted
devices. Following my resignation as Chairperson of the Committee, the Board of BAL unanimously elected Mr Johan Linde to take my place. Together with Alan Baker and Peter Stickler, Johan has since been working diligently in the discharge of the duties of the Committee. I wish him well as Chairperson.Overall, I enjoyed my time working on the Committee with Alan and Peter, and thank the Board for the opportunity to serve on it.
Garry Moore20 November 2018.
ANNUAL REPORT 2018 15
REPORT BY THE CURRENT CHAIRPERSON OF THE ANTI-DOPING AND MEDICAL STANDING COMMITTEE
Since 11 June 2018, I have been the Chairperson of BAL’s Anti-Doping and Medical Standing Committee (the Committee) after nomination to the BAL Board (the Board) by Garry Moore, the previous Chairman of circa six years, who officially stepped down from this role.The Committee consists of Pete Stickler and Alan Baker (both continuing), and myself. Since taking over as Chairperson, the Committee has received and reviewed three applications for clearance for an athlete’s return to competitive boxing and sparring following a KO or RSCH – all of which have been approved.In addition, the Committee was asked to provide advice by the BAL Chairperson, Ted Tanner, on a difficult situation relating to an Australian Youth athlete competing at the 2018 Youth World Championships in Budapest, Hungary. This athlete was not allowed to compete on medical grounds, stemming from medical clearance forms in regard to hepatis B. Although best endeavours were made and additional paperwork clearing the athlete was provided, the AIBA technical delegate responsible did not allow the boxer to compete. Subsequently, the Committee provided advice as to this athlete’s eligibility to compete in Australia, and after reviewing all paperwork and other relevant information found this athlete was not a risk to himself or others, and would indeed be eligible to compete in Australia. BAL awaits AIBA’s further advice on this matter.I would very much like to thank Garry for his support and guidance in this role over the last five months (and I’m sure into the future as well), particularly given that 1) I am a new director on the Board, and 2) my background is not medicine or a related discipline. Garry’s sharp mind and methodical approach will be missed by the Committee.In addition, both Pete and Alan deserve wide acknowledgement and praise for their effort and diligence in attending to the matters presented to the Committee. They both have assisted with providing technical knowledge and insights which are important to ensure an appropriate, responsible outcome for our athletes.It is paramount that the instincts of the athlete (and sometimes the coach and parent) are kept in check by the need to ensure the safety and welfare of the athlete. The Committee plays an important role in this regard, along with referees and medical staff on the front line, and the coaches, parent, friends and other athletes who see the athlete every day.On behalf of the Committee, I submit this report to the Board.
Johan Linde21 November 2018
16 ANNUAL REPORT 2018
TECHNICAL AND COMPETITION REGULATIONS COMMITTEE
For most of the year BAL’s Technical and Competition Regulations Committee was comprised of Jim Ferguson (Chair) and Wayne Rose. David Cutting stood aside for some time to devote his energies to other areas of Boxing but later again became an active member of the Committee. Both Wayne and David have continued to take a close interest in ensuring that our rules and regulations stay in tune with AIBA requirements and keep up with best international practice and I thank Wayne and David for their contribution.
The role of the Technical and Competition Regulations Standing Committee is to keep BAL’s Technical and Competition Regulations under constant review and to advise the Board of proposed changes to the Regulations for its approval and to draft regulations as required by the Board for the effective operation of the sport. For a sport with a high level of regulatory requirement, and where regulations must keep pace with both domestic and international developments, it is an important role.
During the previous year the Committee undertook an extensive review of the Technical and Competition Regulations to ensure they are fully compliant with the AIBA Regulations, accurately reflect the policies of BAL in respect to competition boxing within Australia, and are readily understandable by the Boxing Community. In the light of this major task, the work of the Committee during the year under review has been significantly less.
The major work undertaken by the Committee has been a review of the BAL Regulations Relating to the Registration of Boxers by Member Associations to take account of the problem posed by Masters boxers resident in countries where there is no provision for the registration of Master boxers participating in Australia.
Previously, a boxer could be registered by a Member Association if they were resident in the State or Territory within which that Member Association is incorporated. This, however, did not cover cases where boxers resident in some other countries, notably New Zealand and Oceania, could participate in Masters event in Australia and where the AIBA Technical Rules provision that visiting boxers must be members of or licenced with their National Federation did not apply.
To overcome this problem, the Regulations Relating to the Registration of Boxers by Member Associations was amended to allow Masters boxers who are not registered with an AIBA National Federation, to compete in Australia provided they provide a commitment to comply with BAL’s regulations, confirmation from the National Boxing Federation of their home country that it has no objection to the boxer competing in a Masters event in Australia; and evidence that they have independent insurance adequate to cover them in Australia.
Jim Ferguson (Chair)
ANNUAL REPORT 2018 17
MESSAGE FROM THE AUSTRALIAN SPORTS COMMISSION
The Australian Sports Commission (ASC) thanks all of our partner national sporting organisations (NSOs) for your continued hard work and commitment to excellence. All of you understand innately the importance of sport in Australian life. It’s much more than a source of national identity and pride, it’s the fabric that binds us together - a common language for all, with multiplier benefits in health, education, social cohesion and the economy.
There were many great sporting events to celebrate during the course of last year – the launch of both the AFL Women’s competition and the National Netball League with prime-time TV coverage, the Richmond Tigers’ win in the AFL, dominant performances by the Australian Ashes teams in the men’s and the women’s series, the Matildas winning the football Tournament of Nations and the Socceroos qualifying for this year’s World Cup in Russia – just to pick a few.
Sport has traditionally been our national past-time. A competitive sporting spirit has been a natural part of our DNA. But like any industry, sport faces competition, from other entertainment options domestically or from other nations internationally. At the ASC, we are serious about taking on that competition.
We appreciate the willingness of NSOs to embrace this challenge. We commend athletes for their dedicated commitment to training for the Gold Coast 2018 Commonwealth Games this year and, further ahead, the Tokyo 2020 Olympic and Paralympic Games.
One of the most important long-term challenges for our country is to help our children be physically active, to participate in sport and enjoy its lifelong benefits.
The ASC’s Sporting Schools program has reached more than 6,000 primary schools around Australia and now includes a targeted program for secondary schools. It is vital to ensure physical education is re-emphasised in the national school curriculum. To this end, the ASC has been doing ground-breaking work on physical literacy for young people and we look forward to rolling this out nationally in the year ahead.
As the national leadership organisation for sport in Australia, the ASC is excited by the enthusiasm that the Minister for Sport, Senator the Hon. Bridget McKenzie, is showing for promoting physical activity for all Australians, and we continue to work with her on the National Sport Plan. This creates, for the first time, a comprehensive blueprint for Australian sport. It is an outstanding initiative and we thank the Minister for her commitment and those that contributed to the Plan.
Finally, I say a big thank you to the army of volunteers – parents, coaches, officials and administrators - who contribute their time and services for the good of Australian sport. You bring community strength, passion and great value to the identity, productivity, cohesion and health of our nation.
The ASC wishes you every success in the year ahead. We look forward to working closely with you for the common good of Australian sport.
John Wylie AMChairAustralian Sports Commission
GENERAL PURPOSE FINANCIAL REPORT
DIRECTORS REPORT
for the Year Ended 30 June 2018
BOXING AUSTRALIA LIMITED ABN 19 163 279 294
FINANCIAL REPORT FOR THE YEAR ENDED
30 JUNE 2018
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
2
DIRECTORS REPORT Your directors present this report on the company for the financial year ended 30 June 2018. Directors The Board of Directors is elected for a three year period with one third retiring at the time of each Annual General Meeting. The names of each person who has been a director during the year and to the date of this report are: Directors Mr Edgar Tanner (President) Mrs Julia Felton Mr James Ferguson Mr Phillip Goodes (to 4 November 2017) Dr Garry Moore Mr Dean Groth Mr Wayne Rose (to 4 November 2017) Mr Johan Linde (from 4 November 2017) Mrs Samantha Cowan (from 4 November 2017 to 27 February 2018) Ms Kirsteen Maclean (from 7 July 2018) Mr Jack Pappas (from 14 May 2018). Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Company Secretary The following person held the position of company secretary at the end of the financial year: Josh O’Brien CEO/Company Secretary Qualifications: Master of Business Administration Experience: Former Executive Officer for Rowing ACT and previously
undertook the role of Sports Operations Manager for Boxing Australia.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
3
DIRECTORS REPORT
Principal Activities To govern, foster, administer and promote boxing within Australia. This includes:
Provide programs, systems and structures for our boxers to compete and success at international benchmark events;
Provide National Events for our boxers to compete including developing, enforcing and monitoring the rules that govern our sport;
Provide participation programs and structures for participants to enter the sport and have a positive experience;
Provide support and education for participants that are coaches, officials and administrators at all levels within our sport;
Provide governance and operation support to our Members including identifying the right strategies, best practices and incorporating the Australian Sports Commission’s Sports Governance Principles.
No significant changes in the nature of the company’s activities occurred during the financial year. The Objects of the Company are set down in Clause 2.2 of its Constitution. Operating Results The deficit of the company for the year amounted to $55,079 (2017 surplus: $90,250). Review of Operations A review of operations of the company during the financial year indicated that there have been no significant changes to operations of the company during the financial year. Significant Changes in State of Affairs No significant changes in the company’s state of affairs during the financial year. After Balance Date Events No 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. Future Developments The company expects to maintain the present status and level of operations and hence there are no likely developments in the company’s operations. Environmental Issues The company’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
4
DIRECTORS REPORT Dividends Paid or Recommended and Options In accordance with the company’s Constitution, the company is limited by guarantee and accordingly no shares or options have been issued. No dividends are paid by the company. Indemnifying Officers or Auditor No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is or has been an officer or auditor of the company.
Information on Directors Mr Edgar Tanner President Qualifications: Master of Business Administration Experience: Former Member, Victorian Legislative Assembly Special Responsibilities: AIBA Executive Member Mrs Julia Felton Director Qualifications: Bachelor of Economics and Bachelor of Law Experience: Legal practitioner in the private sector Special Responsibilities: AIBA Women’s Committee Member Mr James Ferguson Director Qualifications: Bachelor of Arts (Hon) and Master of Arts Experience: Former Executive Director, Australian Sports Commission Special Responsibilities: Boxing Australia Rules Committee Member Mr Phillip Goodes Director Qualifications: 19 years with Australian Vintage Limited Experience: Member since 2012, AIS SA Board, ASA Management Committee Special Responsibilities: Boxing Australia Selectors Committee Chairman Dr Garry Moore Director Qualifications: Doctor of Philosophy in Law and Master of Law Experience: Barrister‐at‐Law Special Responsibilities: Oceania Boxing Confederation Legal Advisor Mr Dean Groth Director Qualifications: Currently completing Diploma of Law Experience: Extensive boxing background over 32 years Special Responsibilities: Chair Coaches Consultative Committee Mr Wayne Rose Director Qualifications: Aircraft Engineering Diploma Experience: Referee at 2000 and 2008 Olympic Games Special Responsibilities: AIBA R&J Commission Member
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
5
DIRECTORS REPORT Information on Directors (continued) Mr Johan Linde Director Qualifications: Bachelor of Accounting and Bachelor of Economics Experience: 10 years experience working in finance Special Responsibilities: Chairman of the Boxing Australia Athletes Commission Mrs Samantha Cowan Director Experience: Accredited Practising Dietitian (APD), Accredited Sports Dietitian Ms Kirsteen Maclean Director Qualifications: Bachelor of Information Technology, Diploma of Financial
Accounting Experience: 20 years in the IT industry Mr Jack Pappas Director Qualifications: Barrister‐at‐law Experience: 18 years as a barrister.
Meetings of Directors During the financial year, eight meetings of directors were held. Attendance by each director were as follows:
Directors’ Meetings
Number of meetings eligible to attend
Number of meetings attended
Directors –
Mr Edgar Tanner 8 8
Mrs Julia Felton 8 8
Mr James Ferguson 8 8
Mr Phillip Goodes 3 3
Dr Garry Moore 8 8
Mr Dean Groth 8 8
Mr Wayne Rose 3 3
Mr Johan Linde 3 3
Mrs Samantha Cowan 3 3
Ms Kirsteen Maclean NIL NIL
Mr Jack Pappas 1 1
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
6
DIRECTORS REPORT 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 of those proceedings. The company was not a party to any such proceedings during the year. Auditor’s Independence Declaration The lead auditor’s independence declaration for the year ended 30 June 2018 has been received and can be found on page 8 of the Financial Report. Signed in accordance with a resolution of the Board of Directors:
Director …………………………………………………………………………
Director ………………………………………………………………………… Dated this 2nd day of November 2018.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
7
DIRECTORS DECLARATION The directors of the company declare that: 1. The financial statements and notes, as set out on pages 9 to 23 are in accordance with the
Corporations Act 2001 and:
(a) comply with Accounting Standards; and (b) give a true and fair view of the financial position as at 30 June 2018 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 2nd day of November 2018.
8
AccountAbility (ACT) Pty Ltd ACN: 088 095 354
3/20 Challis Street, Dickson ACT 2612
PO Box 776, Mitchell ACT 2911
Telephone: 02 6170 6870
Facsimile: 02 6260 7499
Email: [email protected]
www.accountabilitywft.com.au
Liability limited by a scheme approved under
Professional Standards Legislation
AUDITORS’ INDEPENDENCE DECLARATION TO THE DIRECTORS OF BOXING AUSTRALIA LIMITED In accordance with the requirements of section 307C of the Corporations Act 2001, I declare that, to the best of my knowledge and belief, during the year ended 30 June 2018 there have been: (a) no contraventions of the auditors’ independence requirements as set out in
the Corporations Act 2001 in relation to the audit, and (b) no contraventions of any applicable code of professional conduct in relation
to the audit. AccountAbility
Anthony Wilson Registered Company Auditor Canberra, ACT 2 November 2018
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
9
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED
30 JUNE 2018
NOTE 2018 2017 $ $
REVENUE Grants 2 1,224,614 1,215,857 Fees 188,172 62,558 Commercial 13,183 1,327 Courses 1,455 54,506 Insurance 43,488 41,697 Interest 2,453 6,062 Other revenue 14,987 27,084
TOTAL REVENUE 1,488,352 1,409,091 EXPENSES Human resources 680,998 634,165 Travel 663,154 492,685 Office expenses 188,397 121,548 Audit 4,235 12,897 Depreciation 6,647 16,324 Meetings ‐ 41,222
TOTAL EXPENSES 1,543,431 1,318,841 Surplus/(deficit) for the year (55,079) 90,250 Other comprehensive income ‐ ‐
Total comprehensive surplus/(deficit) for the year (55,079) 90,250
The accompanying notes form part of these financial statements
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
10
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2018
NOTE 2018 2017 $ $
ASSETS CURRENT ASSETS Cash and cash equivalents 5 187,133 311,430 Trade and other receivables 6 54,017 79,082 Financial assets 7 84,645 82,917 Other assets ‐ prepayments 2,440 ‐
TOTAL CURRENT ASSETS 328,235 473,429 NON‐CURRENT ASSETS Property, plant and equipment 8 6,760 13,407
TOTAL NON‐CURRENT ASSETS 6,760 13,407
TOTAL ASSETS 334,995 486,836 LIABILITIES CURRENT LIABILITIES Trade and other payables 9 47,133 75,285 Income received in advance 34,228 97,670 Provisions 10 33,820 41,987
TOTAL CURRENT LIABILITIES 115,181 214,942 NON‐CURRENT LIABIITIES Provisions 10 8,369 5,370
TOTAL NON‐CURRENT LIABILITIES 8,369 5,370
TOTAL LIABILITIES 123,550 220,312
NET ASSETS 211,445 266,524
EQUITY Retained earnings 211,445 266,524
TOTAL EQUITY 211,445 266,524
The accompanying notes form part of these financial statements
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
11
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2018
Retained Earnings
Total
$ $
Balance at 1 July 2016 176,274 176,274 Total comprehensive surplus for the period 90,250 90,250 Balance at 30 June 2017 266,524 266,524 Total comprehensive deficit for the period (55,079) (55,079)
Balance at 30 June 2018 211,445 211,445
The accompanying notes form part of these financial statements
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
12
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 2018 2017 $ $
CASH FLOW FROM OPERATING ACTIVITIES Receipts from members and others 1,447,520 1,537,249 Payments to suppliers and employees (1,508,597) (1,276,635) Interest received 2,453 6,062 Net GST payments to the ATO (63,945) (53,497)
Net cash generated by/(used in) operating activities
11 (122,569) 213,179
CASH FLOW FROM INVESTING ACTIVITIES Proceeds from sale of property, plant & equipment
‐
1,730
Purchase of property, plant and equipment ‐ (9,626) Purchase of financial assets (1,728) (47,877)
Net cash generated by/(used in) investing activities
(1,728)
(55,773)
Net increase/(decrease) in cash held (124,297) 157,406 Cash at beginning of the financial year 311,430 154,024
Cash at end of the financial year 5 187,133 311,430
The accompanying notes form part of these financial statements
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
13
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
The financial report is for Boxing Australia Limited as an individual entity, incorporated and domiciled in Australia. Boxing Australia Limited is a company limited by guarantee.
Basis of Preparation
The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards‐Reduced Disclosure Requirements, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001.
Australian Accounting Standards‐Reduced Disclosure Requirements set out accounting policies that the AASB has concluded would result in a financial report containing relevant and reliable information about transactions, events and conditions to which they apply. Compliance with Australian Accounting Standards‐Reduced Disclosure Requirements ensures that the financial statements and notes also comply with International Financial Reporting Standards. Material accounting policies adopted in the preparation of this financial report are presented below. They have been consistently applied unless otherwise stated.
The financial report has been prepared on an accruals basis and is based on historical costs, modified, where applicable, by the measurement at fair value of selected non‐current assets, financial assets and financial liabilities.
Accounting Policies
(a) Revenue
Revenue from the sale of goods is recognised upon the delivery of goods to customers. Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument.
Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.
Government grants are recognised in Statement of comprehensive income on a systematic basis over the periods in which the company recognises as expenses the related costs for which the grants are intended to compensate.
All revenue is stated net of the amount of goods and services tax (GST).
(b) Taxation
No provision for income tax has been raised as the company considers itself exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.
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 expense.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
14
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Receivables and payables in the Statement of financial position are shown inclusive of GST.
Cash flows are presented in the Statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.
(c) Employee Benefits
Provision is made for the company’s liability for employee benefits arising from services rendered by employees to the reporting date. Employee benefits expected to be settled within one year together with benefits arising from wages, salaries and annual leave which may be settled after one year, have been measured at the amounts expected to be paid when the liability is settled. Other employee benefits payable later than one year have been measured at the net present value.
Contributions are made by the company to an employee superannuation fund and are charged as expenses when incurred.
(d) Provisions
Provisions are recognised when the company 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.
Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.
(e) Cash and Cash Equivalents
Cash 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.
(f) Property, Plant and Equipment
Each class of plant and equipment is carried at cost or fair values as indicated, less, where applicable, any accumulated depreciation and impairment losses.
Plant and Equipment
Plant and equipment are measured on the cost basis less depreciation and impairment losses.
The carrying amount of plant and equipment is reviewed annually by the directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to present values in determining recoverable amounts.
Plant and equipment that have been contributed at no cost, or for nominal cost are valued at the fair value of the asset at the date it is acquired.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
15
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Depreciation
The depreciable amount of all fixed assets is depreciated on a straight‐line basis over the asset's useful life to the company 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 Depreciation Rate Motor vehicles 16.67%
Plant & equipment 13 ‐ 100%
Boxing Equipment 25 ‐ 100%
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each reporting date.
Asset classes carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the income statement. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.
(g) Impairment of Assets
At each reporting date, the company reviews the carrying values of its tangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the Statement of comprehensive income.
Where future economic benefits of the asset are not primarily dependent upon the asset’s ability to generate net cash inflows and when the company would, if deprived of the asset, replace its remaining future economic benefits, value in use is depreciated replacement cost of an asset.
Where it is not possible to estimate the recoverable amount of an asset class, the company estimates the recoverable amount of the cash‐generating unit to which the class of asset belongs.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
16
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
(h) Financial Instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions to the instrument. For financial assets, this is equivalent to the date that the company commits itself to either purchase or sell the asset (ie trade date accounting is adopted).
Financial instruments are initially measured at fair value plus transactions costs except where the instrument is classified ‘at fair value through profit or loss’ in which case transaction costs are expensed to profit or loss immediately.
Classification and subsequent measurement
Finance instruments are subsequently measured at either fair value, amortised cost using the effective interest rate method or cost. Fair value represents the amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.
Amortised cost is calculated as: i. the amount at which the financial asset or financial liability is measured at initial
recognition; ii. less principal repayments; iii. plus or minus the cumulative amortisation of the difference, if any, between the amount
initially recognised and the maturity amount calculated using the effective interest method; and
iv. less any reduction for impairment.
The effective interest method is used to allocate interest income or interest expense over the relevant period and is equivalent to the rate that exactly discounts estimated future cash payments or receipts (including fees, transaction costs and other premiums or discounts) through the expected life (or when this cannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amount of the financial asset or financial liability. Revisions to expected future net cash flows will necessitate an adjustment to the carrying value with a consequential recognition of an income or expense in profit or loss.
(i) Financial assets at fair value through profit or loss
Financial assets are classified at ‘fair value through profit or loss’ when they are held for trading for the purpose of short‐term profit taking, or where they are derivatives not held for hedging purposes, or when they are designated as such to avoid an accounting mismatch or to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Such assets are subsequently measured at fair value with changes in carrying value being included in profit or loss.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
17
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
(ii) Loans and receivables
Loans and receivables are non‐derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost.
(iii) Held‐to‐maturity investments
Held‐to‐maturity investments are non‐derivative financial assets that have fixed maturities and fixed or determinable payments, and it is the company’s intention to hold these investments to maturity.
(iv) Available‐for‐sale financial assets
Available‐for‐sale financial assets are non‐derivative financial assets that are either not capable of being classified into other categories of financial assets due to their nature, or they are designated as such by management. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments.
(v) Financial liabilities
Non‐derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost.
Fair Value
Fair value is determined based on current bid prices for all quoted investments. Valuation techniques are applied to determine the fair value for all unlisted securities, including recent arm’s length transactions, reference to similar instruments and option pricing models.
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 financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the Statement of comprehensive income.
Derecognition
Financial assets are derecognised where the contractual rights to receipt of cash flows expires or the asset is transferred to another party whereby the company no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are either discharged, cancelled or expired. The difference between the carrying value of the financial liability, which is extinguished or transferred to another party and the fair value of consideration paid, including the transfer of noncash assets or liabilities assumed, is recognised in the Statement of comprehensive income.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
18
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
(i) Comparative Figures
When required by Accounting Standards, comparative figures have been adjusted to conform with changes in presentation for the current financial year.
(j) Critical accounting estimates and judgements
The directors evaluate estimates and judgements incorporated in to the financial report 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.
Key estimates – Impairment
The company assesses impairment at each reporting date by evaluating conditions specific to the company that may lead to impairment of assets. Where an impairment trigger exists, the recoverable amount of the asset is determined. Fair value less costs to sell or current replacement cost calculations performed in assessing recoverable amounts incorporate a number of key estimates.
(k) Economic dependency
The financial statements have been prepared on a going concern basis. The continuity of the operations of the company depends upon continuing grant funding from the government and its ability to generated sufficient revenue from non‐government funding activities.
2018 2017 $ $
NOTE 2. GRANTS
Composition of grant revenue AIS High Performance 807,500 867,500 AIS Participation 50,000 50,000 Other 401,341 298,357
1,258,841 1,215,857
NOTE 3. SPECIFIC EXPENSES
Expenses Depreciation of non‐current assets ‐ plant and equipment and motor vehicles 6,647 16,324
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
19
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
2018 2017 $ $
NOTE 4. KEY MANAGEMENT PERSONNEL COMPENSATION
$ $ Employment and Post Employment 126,074 110,057
Total compensation 126,074 110,057
NOTE 5. CASH AND CASH EQUIVALENTS
Trading account 126,309 112,004 Savings account 58,083 196,686 Paypal account 2,741 2,740
187,133 311,430
NOTE 6. TRADE AND OTHER RECEIVABLES
Trade receivable 64,789 200,450 Provision for doubtful debts (10,772) (122,650) Sundry debtors ‐ 1,282
54,017 79,082
NOTE 7. FINANCIAL ASSETS
Term deposits 84,645 82,917
84,645 82,917
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
20
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
2018 2017 $ $
NOTE 8. PROPERTY PLANT AND EQUIPMENT
PLANT AND EQUIPMENT Property – at cost 91,777 91,777 Less accumulated depreciation (91,527) (86,905)
Total Property 250 4,872
PLANT AND EQUIPMENT Plant and Equipment – at cost 10,126 10,126 Less accumulated depreciation (3,616) (1,591)
Total Plant and Equipment 6,510 8,535
Movements in carrying amounts for each class of property, plant and equipment between the
end of the prior financial year and the end of the current financial year.
Movements in written down values
Motor Vehicle
Plant & Equipment
Total
$ $ $ Balance at 1 July 2017 8,535 4,872 13,407 Additions ‐ ‐ ‐ Disposals ‐ ‐ ‐ Depreciation expense (2,025) (4,622) (6,647) Impairment/other carrying value adjustments
‐
‐
‐
Balance at 30 June 2018 6,510 250 6,760
NOTE 9. TRADE AND OTHER PAYABLES
Trade creditors and accruals 31,254 46,058 GST payable (3,471) 13,184 Other payables to the ATO 6,896 6,415 Employee payables 12,454 9,628
47,133 75,285
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
21
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 10. PROVISIONS
Analysis of total provision Annual
Leave Long
Service Leave
Provisions Opening balance as at 1/7/2017 41,987 5,370 Net movement in balance (8,167) 2,999
Balance as at 30/06/2018 33,820 8,369 Current 33,820 ‐ Non‐Current ‐ 8,369
33,820 8,369
2018 $
NOTE 11. CASH FLOW RECONCILIATION
Cash as per: Statement of financial position 5 187,133 Statement of cash flows 187,133
Reconciliation of surplus for the year to net cash provided by / (used in) operating activities Surplus/(deficit) for the year (55,079)
Adjustments for non‐cash items Depreciation 6,647 Movements in assets and liabilities Decrease/(increase) in receivables 25,064 Decrease/(increase) in prepayments/other assets (2,439) Increase/(decrease) in creditors and borrowings (28,151) Increase/(decrease) in unearned income (63,443) Increase/(decrease) in employee provisions (5,168)
(122,569)
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
22
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 12. EVENTS AFTER THE BALANCE DATE
There have been no events subsequent to the reporting date which require disclosure in the
financial statements.
NOTE 13. CONTINGENT ASSETS AND LIABILITIES
There are no contingent liabilities or assets as at 30 June 2018 which require disclosure in the
financial statements.
NOTE 14. RELATED PARTY TRANSACTIONS
During the financial year the directors did not receive any benefits other than reimbursement of
travel expenses.
NOTE 15. CAPITAL MANAGEMENT
The Board control the capital of the company to ensure that adequate cash flows are generated
to fund operations. The Board is responsible for the overall risk management strategy.
The company's capital consists of financial liabilities, supported by financial assets.
The Board effectively manage the company's capital by assessing the company’s financial risks
and responding to changes in these risks and in the market. These responses may include the
consideration of debt levels.
The company does not have a formal policy on capital management and gearing ratios.
NOTE 16. MEMBERS’ GUARANTEE
The company is incorporated under the Corporations Act 2001 and is a company limited by
guarantee. If the company is wound up, the Constitution states that each member is required to
contribute a maximum of $1 each towards meeting any outstanding obligations of the company.
At 30 June 2018 the number of members was 8.
BOXING AUSTRALIA LIMITED (A COMPANY LIMITED BY GUARANTEE)
ABN 19 163 279 294
23
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
NOTE 17. COMPANY DETAILS
The registered office for the company is:
26 Leverrier St,
Bruce ACT 2617
The principal place of business for the company is:
AIS Combat Centre
Leverrier Crescent Bruce ACT
24
AccountAbility (ACT) Pty Ltd ACN: 088 095 354
3/20 Challis Street, Dickson ACT 2602
PO Box 776, Mitchell ACT 2911
Telephone: 02 6170 6870
Facsimile: 02 6260 7499
Email: [email protected]
www.accountabilitywft.com.au
Liability limited by a scheme approved under
Professional Standards Legislation
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BOXING AUSTRALIA LIMITED Report on the Audit of the Financial Report Opinion I have audited the financial report of Boxing Australia Limited (the Company), which comprises the statement of financial position as at 30 June 2018, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration. In my opinion, the financial report of Boxing Australia Limited has been prepared in accordance with the Corporations Act 2001, including:
a) giving a true and fair view of the registered entity’s financial position as at 30 June 2018 and of its financial performance for the year then ended; and
b) complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis for Opinion I conducted my audit in accordance with Australian Auditing Standards. My responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of my report. I am independent of the Company in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to my audit of the financial report in Australia. I have also fulfilled my other ethical responsibilities in accordance with the Code. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis my opinion.
25
Responsibilities of Directors’ 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 and the Corporations Act 2001, and for such internal control as the directors determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. In preparing the financial report, the directors’ are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors’ either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The directors’ are responsible for overseeing the Company’s financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Report My objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report. As part of an audit in accordance with the Australian Auditing Standards, I exercise professional judgement and maintain professional scepticism throughout the audit. I also:
Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Company.
26
Conclude on the appropriateness of the Company’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw attention in my auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.
I communicate with the Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including when considered necessary any significant deficiencies in internal control that I identify during my audit. AccountAbility
Anthony Wilson Registered Company Auditor Canberra, ACT 2 November 2018