North Melbourne finanical postion.

[A Living God]

Does anybody have a link to North Melbourne's finanical reports for 05, 06 and 07. I have looked but have been unable to find them.

[NimChief]

I have the 06 report right here in front of me.

[flamethrower]

Does anybody have a link to North Melbourne's finanical reports for 05, 06 and 07. I have looked but have been unable to find them.

Buy a Kangaroos membership then they will send you a copy.

If you are not a member then it is none of your business quite frankly.

[A Living God]

Buy a Kangaroos membership then they will send you a copy.

If you are not a member then it is none of your business quite frankly.
Your right its none off my business as I do not have a finanical commitment to the Kangaroos. I'm looking just out of currosity.

I have found other clubs financial reports on the Internet and was hoping that somebody would know where to get an online verison of the Kangaroos but apparently their true finanical postion is a state secret.

[1jasonoz]

Your right its none off my business as I do not have a finanical commitment to the Kangaroos. I'm looking just out of currosity.

I have found other clubs financial reports on the Internet and was hoping that somebody would know where to get an online verison of the Kangaroos but apparently their true finanical postion is a state secret.

Other clubs aren't share based clubs. They have to make their financial position known to all their members, whilst the NMFC only has to legally inform their shareholders not club members.

[campbell]

Other clubs aren't share based clubs. They have to make their financial position known to all their members, whilst the NMFC only has to legally inform their shareholders not club members.

So basically in all of this, it don't matter what the members actually want.


If the shareholders decide that the money the AFL is offering them is too good an offer, then thats that. This is between the shareholders and the AFL.

[A Living God]

Other clubs aren't share based clubs. They have to make their financial position known to all their members, whilst the NMFC only has to legally inform their shareholders not club members.
So they only have to legally inform share holders but that doesn't preclude them from publishing it online.

Either they do and somebody could tell me where it is or they don't and somebody could say that.

[Tas]

The club sent the 2006 report to all members this year and will probably do the same with the 2007 report.

I have the 2005 financials, had to get those from a shareholder.

Is there anything specific you are after?

[Rob]

Other clubs aren't share based clubs. They have to make their financial position known to all their members, whilst the NMFC only has to legally inform their shareholders not club members.

They're a public company, they also have to legally inform the public. You can get a copy off ASIC (or one of their information brokers) for a fee.

I've got their 05 financials, would have got them off the web somewhere.

[Lidge]

Our debt isn't the largest
Our asset base isn't the smallest

That's all you need to know

[1jasonoz]

So they only have to legally inform share holders but that doesn't preclude them from publishing it online.

Either they do and somebody could tell me where it is or they don't and somebody could say that.

1/ Correct.

2/ They did publish last years report online.

[1jasonoz]

They're a public company, they also have to legally inform the public. You can get a copy off ASIC (or one of their information brokers) for a fee.

I've got their 05 financials, would have got them off the web somewhere.

They are not a publicly listed company.

They only have to make their financials available if they intend to offer new shares/raise capital.

Most companies have to report to ASIC.

[A Living God]

2/ They did publish last years report online.
Do you have a link to it?

[1jasonoz]

Do you have a link to it?

You'd have to check our website.

[Rob]

They are not a publicly listed company.


I said a *public* company, not a publicly listed company. There are a lot more unlisted public companies than listed.


They only have to make their financials available if they intend to offer new shares/raise capital.

Most companies have to report to ASIC.

Most companies aren't public companies, they're small private companies and have different reporting requirements.
Small private companies only need to lodge an annual return, which generally doesn't include financials, only changes to directors, addresses and shareholders.

Public companies (to which North Melbourne Football Club Limited is one, look it up) have much more stringent reporting requirements. In North's case, they lodge a financial report every year, which includes, amongst other things, a balance sheet and a P&L. It is publicly available.
If you're interested, read about it yourself.

http://www.asic.gov.au/asic/ASIC.NSF/byHeadline/Financial%20Reports

[Tas]

I said a *public* company, not a publicly listed company. There are a lot more unlisted public companies than listed.

NMFC is an incorporated association in accordance with the Associations Incorporation Act 1981, that is state based legislation.

An IA doesn't have the same requirements as a public company and it does not have to provide annual reports to members or make them available to the general public. It has to make the records available to members if they require it.

NMFC reporting exceeds what is expected of the organisation according to the law.

You can look at the consumer affairs victoria web site if you are more interested in the specific differences between IAs and PCs.

[telsor]

The point is, that by keeping it all quiet, it's damaging the club.

We keep getting told that you'll turn it around, and that if people would just kick in to get them over the hump they'll be good in a few years.

But whenever the questions are asked ( what is the current state, and HOW are you going to turn it around ), the answer is always "that's a secret"


Well, I, and it seems several others are willing to help, but ONLY if you can convince us it'll actually make a difference beyond delaying things, and I'm sorry,but "Trust us, it'll help" doesn't cut it.

[Rob]

NMFC is an incorporated association in accordance with the Associations Incorporation Act 1981, that is state based legislation.

An IA doesn't have the same requirements as a public company and it does not have to provide annual reports to members or make them available to the general public. It has to make the records available to members if they require it.

NMFC reporting exceeds what is expected of the organisation according to the law.

You can look at the consumer affairs victoria web site if you are more interested in the specific differences between IAs and PCs.

They might have used to be an incorporated association, but they're not anymore. You can look them up on the ASIC database. Note the bolded text.

Name NORTH MELBOURNE FOOTBALL CLUB LIMITED
ACN
006 468 962
ABN
21 006 468 962
Type Australian Public Company, Limited By Shares & Guarantee
Registration Date 06/09/1985
Next Review Date 06/09/2008
Status Registered
Locality of Registered Office North Melbourne VIC 3051
Jurisdiction Australian Securities & Investments Commission

Previous State VIC
Previous Number C0246828B

AFAIK, all AFL clubs are corporations law companies.

[greennick]

They might have used to be an incorporated association, but they're not anymore. You can look them up on the ASIC database. Note the bolded text.

Name NORTH MELBOURNE FOOTBALL CLUB LIMITED
ACN
006 468 962
ABN
21 006 468 962
Type Australian Public Company, Limited By Shares & Guarantee
Registration Date 06/09/1985
Next Review Date 06/09/2008
Status Registered
Locality of Registered Office North Melbourne VIC 3051
Jurisdiction Australian Securities & Investments Commission

Previous State VIC
Previous Number C0246828B

AFAIK, all AFL clubs are corporations law companies.
I think this is right, all of them are audited and their finances are available from ASIC if you want to pay the cash. I do not think they are all of the same structure per se, but they are all reporting entities.

[Tas]

They might have used to be an incorporated association, but they're not anymore. You can look them up on the ASIC database. Note the bolded text.

Name NORTH MELBOURNE FOOTBALL CLUB LIMITED
ACN
006 468 962
ABN
21 006 468 962
Type Australian Public Company, Limited By Shares & Guarantee
Registration Date 06/09/1985
Next Review Date 06/09/2008
Status Registered
Locality of Registered Office North Melbourne VIC 3051
Jurisdiction Australian Securities & Investments Commission

Previous State VIC
Previous Number C0246828B

AFAIK, all AFL clubs are corporations law companies.

Hmmm, I was fairly certain that the club was an IA which was the reason for the problems with the ATO and the tax exempt status of the club due to the structure and voting rights.

I know you can choose to incorporate with a public limited company but do not know that aspect of the law that well as to which parts of the various legislations are applicable.

If it is a public listed company then you are correct it has greater reporting obligations, which is why most non-profit entities incorporate via the Associations Act, where possible.

[greennick]

Hmmm, I was fairly certain that the club was an IA which was the reason for the problems with the ATO and the tax exempt status of the club due to the structure and voting rights.

I know you can choose to incorporate with a public limited company but do not know that aspect of the law that well as to which parts of the various legislations are applicable.

If it is a public listed company then you are correct it has greater reporting obligations, which is why most non-profit entities incorporate via the Associations Act, where possible.
It may be an incorporated association that owns the "NORTH MELBOURNE FOOTBALL CLUB LIMITED". So, it is still possible. For example, this is the set up most charities and political parties have as they need to have a company in order to own property and the like.