AFL Clubs 2012 Annual Reports

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Kwality said:
The AFL Annual Report being leaked:
The AFL will reveal in its 2012 Annual Report significant top-end salary growth, with 51 players earning more than half a million dollars in 2012, up from 40 in 2011.
http://www.afl.com.au/news/2013-01-25/millionaires-club-explodes
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The AFl releases bits and pieces from the report in the months leading up to the full March release, has done for some time, and usually while waiting for the preason to start. It keeps the AFL in the news for a lot longer, and they generally control these stories so its a win for the AFL. Then its full results get lost in the start of the season hubbub. Except here of course.
 
One of the more interesting items in leaked AFL Annual Report is graph on players incomes - I've long called for some uniformity in Annual Reports to allow meaningful comparisons to be made & the reporting of player incomes ia a good example.
I'd be happy with reporting in bands of $200k.
I'd also like to see other employees reported separately, CEO, coach, sports science guys & right down to the office staff, $200k bands & numbers - no names.
I think we would see clubs run by Brian Cook* & alike with a more even graph year on year than other clubs - we would all know which clubs are well run, which battle.

* The Cats list management thru their current era success has been exemplary.
 
Kwality said:
Indian Pacific Limited 2012 Financials now available from the ASIC site, $36 Wookie.

Lets hope its a quiet day on the Bourse tomorrow & the Finance hacks spend some of Kerrys hard earned.
Click to expand...

Cheers, cant quite justify the cost at the moment, but if the footy media dont do their job ill grab it in a fortnight or so
 

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Kwality said:
0
WAFC Annual Report 2012
http://www.wafc.com.au/annual-report/
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I'm not sure if this is the right place to put this but the WAFC has made two consecutive big losses $5.60mil in 2012 and $3.93mil in 2011 after 2 small profits or $297k in 2010 and $280k in 2009.

Now its interesting that neither the chairman or ceo saying much about their finances in both 2012 and 2011 and there is no finance managers report.

The main reason for these losses is because they are writing off the buildings/stands at Subi as they know a new stadium has been committed to be built by the government. Depreciation in 2011 was changed from 50 years to 7 for the existing leasehold improvements.

In 2012 depreciation was $6.5mil, in 2011 it was $6.6mil, in 2010 it was $2.0mil and in 2009 it was $2.0mil

But their are other issues, as the cash flow from normal operations has been hit hard and a $7mil turn around.

2012 $(2,304,174)
2011 $147,356
2010 $2,105,782
2009 $4,997,175

Revenue has stagnated

2012 $27,739,262
2011 $27,794,624
2010 $27,513,187
2009 $26,143,645

as costs have risen. they don't total them up so I can't be stuffed.
 
Kwality said:
I'm interested in how they deal with the Eagles $25mil prepayment for games at Pattos@Subi.
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Where is that in the WAFC accounts? When and why did the WCE pay it? Where did they get the money from? A big loan? What priveleges did that get the WCE?

The deffered revenue in the note to accounts says
(ii) Deferred revenue is recognised as each
payment becomes due and payable. It includes
- grant from the State Government as set
out under the terms of the Finance
Agreement between WAFC and the State; and
- prepaid sponsorship.

It was $20.7mil in 2005 and $8.7mil in 2012. Nothing about a WCE prepayment.
 
RussellEbertHandball said:
Where is that in the WAFC accounts? When and why did the WCE pay it? Where did they get the money from? A big loan? What priveleges did that get the WCE?

The deffered revenue in the note to accounts says
(ii) Deferred revenue is recognised as each
payment becomes due and payable. It includes
- grant from the State Government as set
out under the terms of the Finance
Agreement between WAFC and the State; and
- prepaid sponsorship.

It was $20.7mil in 2005 and $8.7mil in 2012. Nothing about a WCE prepayment.
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From my recollection, I've only given the 2012 figures a passing glance - I'll get back tou you later.
 
Ok from the 2012 notes to the accounts

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(v) P repaid Rent - IPL
IPL has prepaid rent to the WAFC as a contribution to the redevelopment of Subiaco Oval for the
use of administration and player facilities for a period of 25 years. The WAFC has deferred the
income and is amortising the deferred revenue over the 25 years.

and

(f) Deferred Revenue
Deferred revenue is recognised in the income statement of comprehensive income as each payment becomes due and
payable. It includes
• grant from the State Government as set out under the terms of the Finance Agreement
between the WAFC and the State Government; and
• prepaid sponsorship. This deferred revenue has been discounted using the effective interest
method and the revenue discounted with this is recognised as the costs relating to the
sponsorship are incurred.

As I said in my previous post when you go to the notes after balance sheet, P&L and cash flow statement which in 2012 is note 18 Payable ( Non-Current) - Defered Income it only talks about the state government grant and in note 23 Related Party Disclosures there isn't any info.

Edit - amounts referred to in 2 (f) ie state govt grants and sponsorship of rent is shown as a Note 15 Payables Current - Deferred income

2012 $294k
2011 $2.857mil
2010 $2.100mil
2009 $1.243mil
2008 $3.547mil
2009 $3.105mil
2006 $3.198mil
2005 $1.327mil

But still no 2 (v) info prepaid rent by WCE/IPL
 
Kwality said:
Seem to have got my 25s mixed up #7 - had a copy of an IPL set of financials somewhere but cant find them. Interesting the note on the IPL prepaid rent has remained word perfect for years now.

Re the absence of growth in revenue I see the AFL distribution dropped $4m 2012 to 2011.
Click to expand...

That $4mil is for the group not the WAFC Inc as a single entity.

I'm not sure what they are. They could be all distributions outside the base distribution from the AFL.

There is the Base AFL distribution which goes up by the amount the salary cap goes up by plus the $1.2mil/year/club which was there in 2007-11 as the TV deal cash component went from $405mil (2002-06 TV deal) to $690mil for 2007-11. That $1.2mil is there for 2012-2016 period but the AFL call that a bonus distribution. During 2012-16 TV rights deal period the increase in TV monies is paid out by calling it an equal distribution. Every club gets $500k in 2012, then $575k in 2013, $650k in 2014, $725k in 2015 and $800k in 2016 = $3.25mil over 5 years.

The base distribution in 2011 was 6,182,004. The salary cap in 2012 went up by $580k. So it will be approx $6.762mil in 2012.
 
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