Fitzroy Football Club

(incorporating the Fitzroy Reds)

Joined VFA: 1884

VFA Premiers: 1895

Founding Member VFL: 1897

VFL Premiers: 1898, 1899, 1904, 1905, 1913, 1916, 1922, 1944.

Brownlow Medallists:

Bunton, Haydn 1931
Ryan, Denis 1936
Bunton, Haydn 1932
Ruthven, Alan 1950
Smallhorn, Wilfred 1933
Murray, Kevin 1969
Bunton, Haydn 1935
Quinlan, Bernie 1981

Board of Directors:

Mr. Dyson F. Hore-Lacy QC

Mrs. Elaine P. Findlay

FITZROY FOOTBALL CLUB LTD

ACN 005 881 201

DIRECTORS' REPORT

The Directors present their report together with the Financial Report for the 119th financial year ended 31st October, 2003.

Directors in office during the year and at the date of this report are:

Mr. Dyson Hore-Lacy, Chairman. Director since 22nd January 1991.
Mrs. Elaine Patricia Findlay, Vice Chairperson. Director since 5th November 1985.
Mr. David Anthony McMahon Director since 25th May 1988.
Mr. John Pettinella Director since 26th January 1993
Mr. Robert Albert Eales Director since 17th March 1994
Mr. Colin Ralph Hobbs Director since 29th March 1994
Mr. William Lawrence Atherton Director since 11th June 1998
Mr. Dean Royston McVeigh Director since 21st May 2001
Mr. David John Lauritz Appointed 25th February 2002

Principal Activities

The Club continues to operate as a member based football club. The Club sponsors the Fitzroy Reds Amateur Football Club and the Fitzroy Junior Football Club, both of whom are based at our original home ground at Brunswick Street Nth.Fitzroy. The Club also endeavours to represent the interests of Fitzroy members and supporters who support the Brisbane Lions in the AFL. The Club is also active in the promotion of Australian Rules Football.

Operating Result

The Net Profit for the year was $7,811. No income tax is payable because the Club is exempt from paying income tax pursuant to the provisions of the Income Tax Assessment Act. (1997.)

Dividends Paid or Recommended

No dividends were paid, declared or recommended during the year. The Club's Constitution prohibits the payment of dividends.

Review of Operations

Please refer to a detailed review of the Club's operations during the year in the Secretary's Report.

State of Affairs

In the opinion of the Directors, there were no significant changes in the state of affairs of the Company that occurred during the period under review not otherwise disclosed in the financial report.

After Balance Date Events

No matter or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Company, or the results of those operations or the state of affairs of the Company in future financial years.

Likely Developments

The Company will continue to support Australian Rules football in Victoria as outlined in this Report and endeavour to provide various social activities for its members.

Directors' Meetings

The number of Directors Meetings and the number of meetings attended by each of the directors of the Company during the financial year are as follows: -

Director

Mr. Dyson Hore-Lacy
Mrs. Elaine P. Findlay
Mr. David A. McMahon
Mr. Colin R. Hobbs
Mr. John Pettinella
Mr. Robert A. Eales
Mr. William L. Atherton
Mr. Dean McVeigh
Mr. David Lauritz

Meetings Attended

2
2
1
1
2
-
2
1
2

Meetings Held

2
2
2
2
2
2
2
2
2

Qualifications:

Law Degree.(LLB) Barrister at Law. Queens Counsel

Signed at Mordialloc this 8th day of February, 2004 in accordance with a Resolution of the Directors.

..............................…………………... William Lawrence Atherton
Director

FITZROY FOOTBALL CLUB LTD
ACN 005 881 201

DIRECTORS' DECLARATION

In the opinion of the directors of the Fitzroy Football Club Limited,

1. The financial statements and notes are in accordance with the Corporations Act 2001; and

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

b) give a true and fair view of the Company's financial position as at 31st October 2003 and of it's performance for the year ending on that date.

2. 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 and is signed for and on behalf of the directors by William Lawrence Atherton, Director.

Dated 8th February 2003
……………………………. William L.Atherton
Director

Dear Members,

I am happy to report that the 2003 Football Season was a very successful one for the Club. Financially we made a Net Profit of $7,811 after having distributed $6,070 to the Fitzroy Reds and Fitzroy Junior Football Clubs. This excellent financial performance, from a Club that many believe no longer exists, is due to the unbelievable support that we get from the Fitzroy Family that extends over six generations from those far sighted people that foundered this great Club, One Hundred and Twenty Years ago.

The year was also a great success at our old ground at Brunswick Street, where the young men of Fitzroy played out the one hundred and twentieth season in the great tradition of their Fitzroy forbears. The FITZROY REDS went from strength to strength to win their second premiership in three years. The FITZROY JUNIOR FOOTBALL CLUB also had a fabulous year fielding thirteen teams and playing off in four Grand Finals, and winning two. It is a far cry from their early days in 1993 when they fielded one team, and only scored one goal for the whole season! The boy that scored that goal has now graduated to under 19 football with the Fitzroy Reds, and is now a star player with a great future of senior Fitzroy football ahead of him. Our hallowed ground also saw the celebration of the 2003 AFL Premiership Cup, won by the all conquering BRISBANE BEARS- FITZROY FOOTBALL CLUB AFL team. The Fitzroy Junior & Fitzroy Reds premiership teams also joined in the celebrations, which were a fitting end to the 120th anniversary of this great Club.

The Fitzroy Reds had perhaps the best season that they have ever had in their forty eight years existence. For the first time they fielded an under 19 team, which was largely made up of boys who had graduated from the Fitzroy Juniors. We are now starting to see the rise of a genuine Fitzroy district team, no different to the great Fitzroy teams of yesteryear when the local boys all wanted to play for their local team, FITZROY. That is why the continued use of our hallowed ground by the Fitzroy Reds and Fitzroy Juniors is so important. I have no doubt that we are witnessing the rise of a major new force in VAFA football.

The Fitzroy Reds fielded four teams this year and all four teams made the finals. The Seniors went on to win the D2 Section Grand Final, held at the old Waverley VFA against Peninsula Old boys. Despite the inclement weather, a big Fitzroy crowd was on hand to cheer them on including many FFC past players and officials. From all reports, there was a bigger crowd at the Fitzroy Reds Grand Final than at the A Section grand final the following week! Unfortunately the Reserves bombed out in their first semi final against West Brunswick. It was a disappointing finish to their season, having given the Seniors marvellous support over the year and finishing six games clear of West Brunswick with 15 wins and only 3 losses. But finals are finals.

The Club XVIII team made the finals for the first time and went onto play against Old Essendon in the Grand Final. The team made a great start at Elsternwick Park, and it was very special to look up at the electronic scoreboard and seeing FITZROY in front of OLD ESSENDON. My thoughts ran forward to the day that scoreboard would be showing that score line in the A Section Grand Final! Unfortunately Old Essendon came out stronger after half time and went onto win by twenty nine points.

But the great achievement was the success of the first ever Fitzroy Reds Under 19 Team ably coached by Tim Bell and his assistant Tony Dullard, a dad and former Melbourne champion player. The boys had a very successful season, winning 13 games, losing five and finishing third. Unfortunately finals luck did not go with them when they lost the semi final game against Latrobe University by seven points. But as they are only seventeen year olds, they will have the next two years to look forward to premiership success given the wider age groups competing in the VAFA U19 competition. Congratulations go to the Reds Senior Coach, Graham Burgen for not only being selected the VAFA coach of the year, but also Victorian Coach of the year. A huge achievement and well deserved. The Fitzroy Reds are very lucky to have a coach of his calibre and endeavour.

The Fitzroy Juniors also had another great season culminating in premiership success for the Under 11 Brown and Under 12 Green teams. Ably led by President Steve Turner and Secretary Joan Eddy, the main focus is to give the young ones an opportunity to play football, participate and enjoy it. The Club is also trying to let them know of their great Fitzroy football heritage. One of the initiatives introduced this year was to dedicate each round to a Fitzroy champion and tell the boys of their great achievements. Round 10 was dedicated to Eddie Hart and further Rounds were dedicated to Kevin Wright, George Coates, Kevin Murray and Alan Ruthven. To assist the FJFC in this project we have given them a copy of Chris Donald's marvellous book, "FITZROY, for the love of the jumper."

As if to mark the significance of the marvellous relationship that now exists between the Fitzroy Reds and Fitzroy Juniors, both Clubs put in a joint entry to the Victorian Sport and Recreation Awards for Community Participation. They subsequently won the award and shared a sizeable cheque! Congratulations to both Clubs

Of course the highlight of the year for us was the return of the Fitzroy jumper to the MCG on Saturday 9th August. The Fitzroy Reds played the curtain raiser against West Brunswick and the Brisbane Lions played Collingwood in a replica of our 1957 jumper with the white FFC logo. Many experts voted the jumper as the best heritage jumper worn that weekend. There was a large contingent of Fitzroy members and supporters at the game and we hope that the Brisbane Lions can wear the jumper again for more games in Melbourne. We congratulate all parties involved in bringing this great day to fruition. To Andrew Demetriou and the AFL, Phil Stevens and the VAFA Executive, Graham Downie and the Brisbane Lions, Eddie McGuire and Collingwood, Benjy Lee and the Fitzroy Reds, Glenn Heppell and the West Brunswick Magpies and our own Dyson Hore-Lacy, thank you all, for making Round 19 of the 2003 AFL season a very special one for Fitzroy supporters.

The year finished with a Dinner to celebrate the 120th anniversary of this great Club. We were honoured to have Bernie Quinlan to propose the toast and long time Fitzroy supporter and former Test Captain Bill Lawry to respond. It was a very enjoyable night and Bill and Bernie had us all in stitches. In closing I would like to thank my fellow Board Members and all members for your support over the year. I would also like to thank our Club Historian Chris Donald, website operator Raelene Margetts and our sponsors, Doran Printing and Lyon Knitwear for their marvellous support.

Bill Atherton
Hon.Secretary

Frank Nolan RCA

6 The Corso
Parkdale VIC 3194
Telephone: (03) 9580-3487

Scope

I have audited the financial report of the Fitzroy Football Club Ltd for the year ended 31st October 2003, consisting of the Statement of Financial Performance, Statement of Financial Position, Statement of Cash Flows, accompanying notes one to fourteen and the Directors Declaration set out on page four. The company's directors are responsible for the financial report. I have conducted an independent audit of this financial report in order to express an opinion on it to the members of the company.

This audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance whether the financial report is free of any material misstatement. The procedures undertaken included examination, on a test basis of evidence supporting the amounts and other disclosures in the financial report, and the evaluation of accounting policies and significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial report is presented fairly in accordance with Accounting Standards and other mandatory professional reporting requirements and statutory requirements so as to present a view which is consistent with my understanding of the company's financial position, and performance as represented by the results of its operations and its cash flows.

The audit opinion expressed in this report has been formed on the above basis.

Audit Opinion

In my opinion, the financial report of the Fitzroy Football Club Ltd is in accordance with:

(a) The Corporations Act 2001, including:
(i) giving a true and fair view of the company's financial position as at the 31st October, 2002 and of its performance for the year ended on that date; and
(ii) complying with Accounting Standards and the Corporations Regulations 2001; and

(b) other mandatory professional reporting requirements.

Frank Nolan
Registered Company Auditor
Date: 27th February, 2003.

FITZROY FOOTBALL CLUB LTD

STATEMENT OF FINANCIAL PERFORMANCE

FOR THE YEAR ENDED 31ST OCTOBER, 2003

Other Revenue from Ordinary Activites

Less: Football Club Sponsorship Payments

Less: Administration Expenses

4

4

FITZROY FOOTBALL CLUB LTD

BALANCE SHEET

AS AT 31ST OCTOBER, 2003

FITZROY FOOTBALL CLUB LTD

STATEMENTS OF CASH FLOWS

FOR THE YEAR ENDED 31ST OCTOBER, 2003

FITZROY FOOTBALL CLUB LTD

NOTES TO AND FORMING PART OF THE ACCOUNTS

FOR THE YEAR ENDED 31ST OCTOBER 2002

1. Fitzroy Football Club Ltd

The Fitzroy Football Club Ltd is a Company limited by shares and guarantee, incorporated under the Victorian Companies Act, 1961. The Company held an AFL licence up until 1996 when its team was merged with the Brisbane Bears by the Administrator pursuant to the provisions of the Deed of Company Arrangement, which operated for the period 4th August 1996 to the 19th December 1997.

2. Significant Accounting Policies

Underlying Principles

The financial statements of the Company are a general purpose financial report, which have been drawn up in accordance with applicable Accounting Standards, Urgent Issues Group Consensus Views, and the Corporations Act 2001. The financial statements have been prepared on the basis of historical costs and do not take into account changing money values or, except where stated current valuations of non-current assets. The accounting policies have been consistently applied, unless otherwise stated.

5. Income Tax

The Company is exempt from Income Tax pursuant to the provisions of Section 50 - 45 of the Income Tax Assessment Act.(1997)

6. Membership

The membership of the Club for the year ending the 31st October 2002 were as follows:

8. Related Parties

Directors

The names of each person holding the position of Director of Fitzroy Football Club Ltd during the financial year were Mr.D. Hore-Lacy, Mrs. E. Findlay, R. Eales, C. Hobbs, D. McMahon, J. Pettinella, K. Ryan, D.McVeigh, W. L. Atherton and D.Lauritz.

Directors' Shareholdings

The following directors or their director related entities hold shares in the Company:

Since the end of the previous financial year, no Director of the Company has been entitled to receive any benefit and no income or fees have been paid to any director.

Director Related Entities

Nil

9. Financing Arrangements

The Club did not require any financing facilities in the 2002 financial year.

10. Controlled Entities

The Company has no controlled entities.

a) Reconciliation of Cash.

For the purpose of the Statement of Cash Flows, Cash includes cash on hand and at bank. Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Balance Sheet as follows: -

Net Cash Provided by(Used in) Operating Activities

$3,043

$2,108

12. Share Capital

The issued Capital is 583,000 ordinary one dollar shares, each fully paid. No shares were issued during the financial year.

13. Accumulated Losses

14. Members Liability

The Memorandum of Association of the Company provides that the liability of members is limited, but in the event of the Company being wound up, every member is liable to contribute to the payment of debts up to an amount of fifty dollars. ($50.00)

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