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2018-12-11 S&O Agenda - Attachment 1 to Item 20 - Tourism Noosa Annual Report 2017-2018
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Services & Organisation
Committee
11 December 2018
Attachment 1 to Item 20
TOURISM NOOSA
ANNUAL REPORT 2017-2018
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Section 2
CONTENTS
3 Message from the Chairman and CEO
4 Key market measures
6 2017-2018 Highlights
12 Financial report for the year ended 30 June 2018
Directors’ Report
Auditor’s Independence Declaration
Statement of Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Financial Statements
Directors’ Declaration
Independent Auditor’s Report
2 visitnoosa.com.au
Section 3
MESSAGE FROM THE CHAIRMAN AND THE CEO
Embracing innovation in an endeavour to balance Thank you also to our Federal and State members,
growth with a more sustainable and responsible Llew O’Brien and Sandy Bolton for giving us an
tourism sector was at the heart of Tourism opportunity to connect with policy-makers and give
Noosa’s focus in 2017-18, so it was timely that our industry a voice at these government levels.
this year’s World Tourism Day, observed by the Alliances with our regional neighbours including
United Nations World Tourism Organisation, Visit Sunshine Coast, Destination Gympie Region,
celebrated the theme of “tourism and the digital Fraser Coast Tourism & Events and Sunshine Coast
transformation”. Airport saw great success in destination marketing
Innovation and sustainability were at the core of campaigns through the Sunshine Coast Aviation
our activities and goals through the year, and we Partnership, experience development with the
see them as an obligation for us and the industry addition of the Mary Valley Drive, showcasing the
to safeguard the long-term future of tourism, our region to key international trade, and support for
businesses and our community. This commitment new nature-based product through the Cooloola
was evident from our marketing messages and the Great Walk famil.
use of new technology to reach evolving visitor We also furthered our relationships with industry
segments, to innovative approaches to commercial, bodies including Tourism and Events Queensland,
government and industry partnerships; the delivery Tourism Australia and the Queensland Tourism
of the Noosa Food & Wine Festival; our support for Industry Council, and saw advances in corporate
the development of unique product; engagement partnerships with Qantas, Audi, RACQ and others
with community groups and environmental that benefited members.
organisations; the evolution of our Noosa Eco Check
program; new ideas in the area of corporate social Thank you to our almost 100 volunteers at the Visitor
responsibility; and our award-winning Refresh Noosa Information Centres and to our record 652 members
program. for your commitment to this wonderful industry that
is a major economic contributor and job provider in
Refresh Noosa, a major initiative introduced in our region, with about $900 million in direct visitor
our Tourism Strategy 2017-2022 and aimed at spend each year, as well as millions more in indirect
encouraging reinvestment in local tourism products spend through the flow-on across businesses that
and the use of environmentally sustainable service the tourism industry.
practices, was launched in October last year and a
conference and expo earlier this year brought some We believe we have one of the most engaged,
of Australia’s best in their field to Noosa. We were vibrant tourism industries in Australia and we urge
extremely proud that this program recently won the you to continue to find ways to become involved
2018 Queensland Tourism Industry Council Prize in our activities – from cooperative marketing
for Innovation in Tourism – huge recognition for our campaigns and familiarisations to networking
local tourism industry and suppliers. We would like opportunities with your fellow members, industry
to thank everyone who has come on-board with this surveys, newsletters, events, member training
industry-leading project. workshops, industry updates and invitations to take
part in special projects and initiatives.
In the first full year of our new Tourism Strategy, we
are pleased to report that a significant number of These activities that form the backbone of our
other goals have either been achieved or are well strategies aim to not only increase visitor spend
on their way, including support for new events and in our region and provide world-class experiences
experiences that disperse visitors throughout our to visitors, but also ensure our industry is a valued
region, and increasingly through our magnificent and and trusted partner in the Noosa community that is
undiscovered rural areas. committed to improved environmental outcomes.
We would like to acknowledge the productive Thank you to the Tourism Noosa Board whose
relationship with Noosa Council and thank Mayor collective vision and passion for this community
Tony Wellington, CEO Brett de Chastel, Council’s provides a sound basis for the team’s activities
observer to our Board Cr Frank Wilkie, other throughout the year, ensuring tourism delivers
Councillors and the many staff with whom we sustainable benefits and a balanced consideration
regularly liaise on a range of projects. We greatly for all who live in and visit Noosa.
appreciate the many opportunities to be consulted
Louise Terry Steve McPharlin
as a trusted advisor on various Council plans
Acting CEO Chair
and strategies, in particular the Draft Noosa Trail
Tourism Noosa Tourism Noosa
Masterplan, that will ensure our industry’s voice
is heard as we advocate for a balance between
community, conservation and industry.
visitnoosa.com.au 3
Section 4
KEY MARKET MEASURES - year ending March 2018
VISITORS NIGHTS SPEND
TOTAL 1.069m 4.7m $829.4m
OVERNIGHT +2.6% +0.05% +6%
Domestic Overnight 899,000 3.74m $740m
(includes interstate) (335,000) (2.09m) ($406.3m)
International Overnight 170,000 968,000 $89.4m
DAY TRIP 923,000 $70.4m
1.992m 4.7m $899.8m
TOTAL
-6.8% +0.05% +2.2%
The Noosa region welcomed 2 million This has also been a trend in recent years. The
overnight and day-trip visitors who spent overnight visitor market has been steadily rising,
almost $900 million in the year to March 2018. with significant increases over the past three years.
OVERNIGHT VISITOR BREAKDOWN
Spend and nights again out-stripped numbers:
Year ending March 2018 TRENDS IN TOTAL OVERNIGHT VISITATION
AND SPEND IN NOOSA (excludes day trip)
Year ending March 2015-2018
(Qld)
16% 2015
2016
31%
2017
2018
53%
Overnight visitors
Noosa’s domestic overnight visitors:
Overnight (domestic + international) visitor
numbers, nights and spend increased on the In the year to March 2018 there were increases in
previous year. domestic overnight visitor numbers, nights and
spend in the Noosa region – all were records for a
Our “value over volume” approach to marketing, year ending March.
targeting high-value visitors who have a range of • Visitors +2.4% to 899,000
experiences throughout the region, rather than • Nights +0.6% to 3.7m
just trying to lift numbers, has achieved a greater • Spend +8% to $740m
increase in spend than the increase in visitor Noosa recorded a higher spend growth rate than
numbers: Queensland and Australia.
OVERNIGHT VISITATION AND SPEND IN NOOSA ANNUAL CHANGE IN DOMESTIC OVERNIGHT
Change from year ending March 2017 to 2018 VISITOR SPEND Year ending March 2018
+0.05%
2017
4,707 4,709 +8.1%
2018
+5.8%
+5.5%
+2.6%
+6%
1041 1069
782 829
VISITORS (‘000) SPEND ($M) NIGHTS (‘000) NOOSA QUEENSLAND AUSTRALIA
4 visitnoosa.com.au
Section 5
Noosa’s international overnight INTERNATIONAL VISITORS, NIGHTS & SPEND IN NOOSA
Year ending March 2015-2018
visitors: 2015
2016
A record 170,000 international visitors came to
2017
Noosa during the year (+3.7% from the previous 2018
year).
• Largest increase was from USA (+10% to
10,000 visitors)
• Record spend from USA - more than doubled
to $6.8m
• Near record spend from NZ (+0.7% to $23.2m)
VALUE OVER VOLUME
Tourism Noosa monitors the volume and value of key domestic and international visitors to the region to
ensure suitable strategies are in place to grow opportunities for Noosa’s economy. Our efforts are focused on
achieving “value over volume” by converting more day trip visitation to overnight stays and reaching high-yield
interstate and international markets, in line with priorities outlined in the Tourism Strategy Noosa 2017-2022.
NOOSA DOMESTIC NUMBERS V SPEND:
Year ending March 2018
564
335
$406.3m $333.8m
INTERSTATE INTRASTATE
Spend per visitor: Spend per visitor:
$1212.80 $591.85
KEY MEASURES: PERCENTAGE INCREASES 2017-2018
Sources: Tourism Research Australia, National and International Visitor Surveys, year ending March 2018; Iconosquare.
visitnoosa.com.au 5
Section 6
2017-2018 HIGHLIGHTS
education; hosting a national Women in Hospitality
event at Wasabi; and working with food rescue
charity Oz Harvest.
About 180kg of produce was donated to OzHarvest
Sunshine Coast, and 100% of funds from the
auction of two tickets to the Wasabi Generation X
Dinner was donated to the charity.
Refresh Noosa
Launched Refresh Noosa to encourage members
to reinvest in their businesses and reinvigorate
the quality of their product to improve
competitiveness. 38 local suppliers offered
discounts on products and services to members
to aid in the refresh process. A dedicated Refresh
section on the visitnoosa.com.au website offers
Noosa Food & Wine Festival deals, information and resources for members.
We delivered a successful Noosa Food & Wine
Festival, attracting some of Australia’s best chefs
to take part in more than 70 events across the
region. The Festival showcased local produce and
restaurants, and put the spotlight on Australia’s
leading young talent. 98% of events sold out and
feedback was very positive, including Masterchef’s
Matt Preston saying: “It’s one of the great food and
wine festivals in the world.”
The Festival generated direct and incremental
expenditure in the Noosa community of almost We planned the inaugural Refresh Noosa
$7.8 million, and publicity valued at more than Conference and Expo with national and state
$6 million, with editorial coverage in major national tourism industry presenters, a trade and product
magazines and newspapers, online and on TV. exhibition and exclusive deals for members.
Environment and community at NF&W Refresh Noosa won the 2018 Queensland Tourism
The Noosa Food & Wine Festival introduced Industry Council Prize for Innovation in Tourism.
environmental, industry and community initiatives
including a focus on recycling with a Waste Relaxation Capital of Australia
Warriors campaign significantly increasing the Our major marketing campaign, Noosa, the
amount of recyclable and compostable rubbish Relaxation Capital of Australia, rolled out nationally
(5.3 tonnes of clean, organic waste was converted through digital and
to 480kg of print advertising,
compost); working social media
with Plastic Free campaigns, outdoor
Noosa to reduce the activation including
amount of plastic at the Melbourne tram
the Festival; using and billboards,
recycled, plastic-free television and cinema
‘glassware’; including advertising, editorials
the national Appetite and newsletters,
for Excellence conveying the diversity
event for industry of Noosa’s experiences
development and for visitors.
6 visitnoosa.com.au
Section 7
Community engagement Sustainable tourism
We worked with, supported and promoted a wide The Sustainable Tourism Stakeholder Reference
range of community, environmental and charitable Group was established by Noosa Council and
organisations, including Coolum Coast Care’s sea Tourism Noosa in response to the growing
turtle rescue and dune regeneration, Drought impacts of tourism on our community. It brings
Angels, Noosa Bush and Beach Creek Care, Noosa together Noosa’s key groups to build community
& District Landcare, Sunshine Butterflies, Red consultation, with the aim of achieving a
Shield Appeal, Earth Hour, Qld Koala Crusaders productive, cohesive and sustainable plan for
and Cancer Council. Honorary Tourism Noosa Noosa’s tourism future.
membership, including marketing, industry and
The group explores issues and opportunities
networking benefits was provided to almost 20
regarding tourism in Noosa, its benefits and
community groups across the region.
impacts (positive and negative), including
traffic, events, the allocation of local resources,
Social media
environmental impact and the economic benefit
Popular social
of tourism.
media platforms
on both Visit It will advise and inform Council and Tourism
Noosa and Noosa about current and future decision-making,
Backpack Noosa policy development and actions with regard to
continue to sustainable tourism.
grow, particularly
Facebook and
Environmental partners
Instagram, with We partnered with local environmental groups on
new tools such a range of projects including Plastic Free Noosa
as Instastories to help reduce single-use plastics in the industry
(highlight video and at events; Zero Emissions Noosa to encourage
features) and our members to move to greener energy options;
IGTV (Instagram TV) being utilised to increase Noosa & District Landcare; promoted Boomerang
engagement with audiences. The introduction of Alliance activities and supported their projects
Instastories on Visit Noosa saw video engagement including Cash for Containers.
reach almost 16,500 in seven months. We are developing a plastic-free Noosa water
Hosting of social media influencers including bottle campaign to encourage visitors to use
lifestyle blogger Chloe Barry-Hang (148,000 refillable bottles, and are working with Unity
followers) contributed to stronger engagement Water and Noosa Council to purchase, paint and
with niche markets, and On Location events install a new water fountain at the Noosa Visitor
including one held in conjunction with the Floating Information Centre.
Land Festival, also engaged local influencers.
Visit Noosa’s Instagram following increased 11%
over the year to reach more than 75,000 followers.
Our content reached 4.6 million people. Almost
one-third of our audience is in Melbourne and
Sydney. Backpack Noosa’s Instagram following
increased almost 16%, with the audience primarily
from Australia.
Visit Noosa’s Facebook following increased 8%
to more than 45,000 people, again with almost
one-third in Melbourne and Sydney. Backpack
Noosa’s following, which is mostly from Australia,
increased 29%.
Tourism Noosa’s posts are regularly shared by other
pages including Tourism and Events Queensland
and Tourism Australia.
visitnoosa.com.au 7
Section 8
Noosa Stats
This new Tourism Noosa research project collects
occupancy data from local operators with the Hirum
property management system to more accurately
measure accommodation occupancy and room
rates, helping accommodation partners benchmark
and plan with real-time information. Tourism Noosa
uses the information to help inform marketing
campaigns.
Global Noosa
We delivered on our Noosa Global Market Strategy,
attending international trade events where we
trained product managers and wholesalers, and
hosted international trade representatives from
the UK, Germany, Netherlands, North America and
more, showcasing a variety of product. The new
Noosa Global Travel Planner presents a record 40+
experiences to the international travel trade.
We participated in the Australian Tourism
Exchange, introducing three products that are new
to the international market after being mentored Cooloola Great Walk
through our Global Ready Industry Program, joined Tourism Noosa partnered with Tropical Treks Guided
trade missions around the world with Tourism Bushwalks & Birdwatching, Destination Gympie
Australia and Tourism and Events Queensland, Region and Kathmandu for an exclusive trial of the
and undertook international marketing campaigns 5-day guided Cooloola Great Walk, from Noosa
including one in the UK with Flight Centre. North Shore to Rainbow Beach. We invited social
media influencers and photographers to join the
As a result, Noosa is appearing in more wholesale
walk, capturing images and videos that were shared
international itineraries, campaigns, editorial pages
around the world. This is in line with our Tourism
and across social media, including a 7-page feature
Strategy commitment to support new nature-based
in the high-end UK trade magazine, Aspire.
product to showcase a wider part of the region.
Tourism and Events Queensland invited a Cooloola
Great Walk influencer to do an @queensland
Instagram takeover, resulting in a curated series of
photos and short clips being shared for a total of
56,805 likes and 29,775 video views.
Visitor Information Centre
New and existing operators have been showcased
Aviation partnership to our Visitor Information Centre holiday consultants
Sunshine Coast Airport, Visit Sunshine Coast and and volunteers through regular famils, site
Tourism Noosa signed a historic 3-year Aviation inspections and Buzz Nights. This enables staff and
Partnership agreement to develop and implement a volunteers to impart fresh and relevant information
new marketing plan to drive future tourism growth to the 250,000+ visitors each year. A self-serve
into the region from the interstate markets of booking system, BeKiosk, was installed in the
Sydney, Melbourne and Adelaide, along with New Hastings Street centre to help visitors easily book
Zealand. The partnership aims to take advantage Noosa accommodation and experiences, and we
of future opportunities through the redevelopment have worked with BookEasy on upgrading the online
of Sunshine Coast Airport. Digital marketing booking system to further streamline the process
campaigns were undertaken with Virgin and Air NZ. including live availability for tour bookings which has
seen an increase in these bookings online.
8 visitnoosa.com.au
Section 9
Noosa Trail Masterplan Marketing opportunities
Tourism Noosa worked with Noosa & District Members took part in a record number of co-
Landcare, Noosa Council, Noosa Biosphere Reserve operative marketing opportunities through our
Foundation and stakeholders to develop a draft Marketing Activity Plan which offered affordable
masterplan to enhance the Noosa Trail Network and subsidised digital, IT'S THE CAPITAL OF
experience for locals and visitors, and to restore, print, social media and
WANDERING BETWEEN
BEACHES, BARISTAS,
BIOSPHERES, BARS
AND BOUTIQUES.
protect and enhance the trails, unlocking benefits other opportunities
for hinterland communities. in national magazines
and newspapers, online
Noosa Country Drive platforms and food, travel,
The Noosa Country Drive touring project was wellness, adventure and STITCH PIECE LOOP
FASHION - LIVING - GIFTS - KIDS - CRAFT
Shop a beautifully curated range
THIS BIRD FLORIST
& CREATIVE STUDIO
BOLD ARTWORK, COMMISSIONS
extended to include a Mary Valley Drive in
of products from independent WELCOMED
other publications. About
makers and emerging brands that Located in the Noosa hinterland
showcase an inspiring, creative and town of Pomona, This Bird is a
contemporary style. working art studio and retail space
Instore at 6 Sunshine Beach Road, full of bold, colourful artworks
Noosa Junction or online. created by Tia Carrigan.
W stitchpieceloop.com.au P 07 5485 0924
@stitchpieceloop W thisbird.com.au
conjunction with Destination Gympie Region. 70 operators took part in
Runaway Noosa MarathoN
26 MAY 2018
Chase the sun and run down your
dreams with the flat, fast, friendly on-
road course through Noosa Heads.
5 distances from a fun run to a full
FOLLOW, TAG, SHARE
#VISITNOOSA
For your daily dose of Noosa
inspiration as well as tips on what to
see, eat and do in Noosa, follow us
on social media – discover some of
Noosa’s hidden gems! Don’t forget to
Extra operator listings were added to the website
marathon.
share your holiday snaps with us.
almost 300 opportunities.
Combine a premium running
experience and weekend getaway. @VisitNoosa
Enter now. @VisitNoosa
W runawaynoosamarathon.com.au @Noosa
and a new map was produced. We enhanced visitnoosa.com.au
engagement with Noosa hinterland communities by Member training
hosting meetings in Kin Kin, Pomona, Eumundi and Record numbers of members attended free or
Cooroy, highlighting opportunities for businesses, low-cost training workshops throughout the year.
and provided subsidised membership for country Workshops in areas including digital marketing,
operators. social media advertising, online travel agent
systems and MailChimp attracted 329 members – a
Clicks to the Noosa Country Drive website almost
229% increase on the previous year.
doubled on the previous year, increasing from
14,265 in 2016/17 to 28,458 in 2017/18. In addition, 119 members, tourism students and
community completed our online customer service
Noosa Country Drive maps are becoming more
program, Welcome to Noosa, with the number
popular with 31,000 maps distributed in 2017/18, up
of completions increasing 5% on the previous
from 27,000 the previous year – 50,000 have been
year to 2200. Our Noosa Eco Check program
ordered for 2018/19.
was completed by a further 67 people, including
students, for a total of 462 completions, a 15%
increase on the previous year.
Membership and online toolkit
Membership continues to grow, reaching a record
652, and engagement at member events including
networking nights and new member morning teas
has increased.
The new members’ online toolkit provided
new resources and benefits for members,
including a Membership Card providing access
to exclusive Refresh Noosa deals, images and
videos, streamlined access to information about
member events and workshops, online booking for
marketing opportunities, industry news and more.
visitnoosa.com.au 9
Section 10
Community projects
Tourism Noosa fostered its role as a community
leader, making submissions to Noosa Council
on community consultation projects including
the Noosaville Foreshore Land Use Master Plan
and Transport Strategy. We worked closely
with Queensland Parks and Wildlife Service on
National Park-related experience development and
preservation of parks.
travel
NOOSA
Even if a hedonistic holiday is your
primary objective for coming to
Events calendar
Noosa, visitors can’t help but be
seduced by the area’s natural beauty
and move with its natural rhythms.
Clockwise from main: White sands
beckon at Noosa’s Main Beach;
Betty’s Burgers is the place to lunch;
We supported 17 established and emerging events
the way to bliss at Ikatan Day Spa;
scouting the surf along Main Beach.
through the year with financial and marketing
support, including the new Runaway Noosa
Marathon and the Noosa Classic which focused on
T cycling in the Noosa hinterland. Our events strategy
he lunchtime lineup for A healthy indulgence dough is fermented for 72 hours. Sure,
Betty’s Burgers snakes This journey begins in the Sofitel there’s wine here, too, but it’s “minimal
along Hastings Street like its Noosa Pacific Resort’s AQUA Day Spa, intervention” alcohol, so it’s either organic
infamous traffic on a sultry which is like a cool Moroccan cavern, or biodynamic. Opened 18 months ago,
summer Sunday when the perfect swell all whitewashed and plump pillows of this pizza joint celebrates local produce
is pumping off Noosa Heads. And who blue. First, you enter a series of aqua such as tiger prawns and Noosa’s famous
ensures dispersal of events in low season and
can blame them? Betty’s serves up a therapy pools heated to a simmering red tomatoes among its toppings.
mean ’Shroom Burger of crisp fried 36°C, followed by a milk footbath and a Cast off these carbs at Noosa’s
mushrooms, melted Gouda and Gruyère body scrub with what feels like Noosa’s newest wellness studio, Noosa Flow,
cheese, lettuce, tomato and special finest sand blended with oil and citrus to with views of the Noosa River. Owner
sauce. And don’t even get me started remove any dead skin cells. Showered, Claire Shandley, who has worked in New
Hedonism, health
on the rich and creamy custard you are then wrapped up snugly before York, says it’s Noosa’s only “reformer
throughout the region.
ice-cream on offer. being massaged. studio” with seven machines designed
They’re like that in Noosa. Snatch Ninety glorious minutes later, your specifically for Pilates. This stylish studio
some surf, eat a steak at the Surf Club. Thalgo Indoceane Spa Ritual, which also has just seven yoga mats to ensure
Go to a gym class, gobble a gelato. blends Mediterranean, Egyptian, Indian classes are small and personal.
and harmony
Grab a pizza, pop out to Pilates. From and Chinese influences, is complete. According to Shandley, even if a
stand-up paddling on the Noosa River After, float to one of 176 studios, villas and hedonistic holiday is your primary
to surfing at Main Beach, this is a suites of this heavenly hotel, Noosa’s only objective for coming to Noosa, visitors
destination that understands the true full-service five-star offering where you can’t help but be seduced by the area’s
meaning of balance. You can indulge in can also enjoy the swim-up pool bar. natural beauty and move with its natural
One minute it’s indulging in the country’s finest the Noosa Food & Wine Festival over While there is seemingly a pizza rhythms. “There are so many wellness
Corporate partnerships
one week in May and, the following parlour perched every few metres entrepreneurs in Noosa,” she says. “We
ingredients prepared by the nation’s best chefs, the next week, compete in the Noosa Ultimate along Hastings Street, Noosa’s bustling are becoming switched on that we need
it’s competing in the Noosa Triathlon. Just how Sports Festival. It’s this curious blend thoroughfare, for something deliciously to be healthy and in touch with ourselves.
does Noosa balance its wild side with wellbeing? of hedonism and health that makes different head to El Capitano Pizzeria “I have clients who live in Noosa on
Noosa so nefarious — in the nicest & Bar, a spot renowned for its organic the weekends but commute to Brisbane,
Words CHRISTINE RETSCHLAG possible way. sourdough pizza bases in which the Sydney and Melbourne for work during
New corporate
118 | wellbeing.com.au wellbeing.com.au | 119
partnerships were
In the media
developed for the
About $43m in publicity value was generated with
benefit of members
articles appearing in media across Australia and
and the industry.
overseas, showcasing Noosa’s natural attributes,
Audi Centre Sunshine
experiences and events. With the support of
Coast offered exclusive deals for members and
operators, Tourism Noosa hosted national and
enabled greater promotion of the region’s diversity
international media from digital platforms,
through a branded Noosa Country Drive Audi
television, social influencers, national newspapers
Ambassador Car which has been featured in media
and magazines, and in segments including travel,
coverage of hinterland experiences. A partnership
food, adventure, sports, wellness, cycling and more.
with Qantas has aided us when hosting media,
The Today Show came to Noosa to broadcast trade and event guests, and an agreement with
weekend weather crosses and the Sunrise morning RACQ resulted in a 12-month activation at the
television show was here during the 35th Noosa Visitor Information Centre.
Triathlon Multi Sport Festival, generating significant
public exposure for the region. Noosa ambassadors
Noosa ambassadors from various events and
Noosa Holiday segments help us showcase Noosa to a wider
Guide audience. We worked with chef Matt Sinclair
A new Noosa Holiday (pictured below) on a series of videos highlighting
Guide, our key tool for Noosa restaurants and produce, and supported his
visitors planning and cooking program, The Cook’s Pantry, with filming
enjoying a Noosa holiday,
features a contemporary
new design and layout,
photos from leading
social media influencers
and photographers, local
tips and fresh content.
75,000 copies of the
guide will be distributed locally, intrastate and
interstate, and it is available online.
10 visitnoosa.com.au
Section 11
taking place in the Noosa National Park, Noosa Eco-tourism and adventure group
Main Beach, Noosa Farmers Market, along the Tourism Noosa’s Backpack
Noosa River, Noosa Earth farm, Sum Yung Guys Noosa Adventure/Youth
restaurant and at Noosa Crest Resort. sector group evolved to
form an eco-tourism cluster
World Surfing Reserve
PADDLE THE EVERGLADES
group with relevant tour SKYDIVE THE BEACH
Tourism Noosa is an active member of the operators, focusing on
Noosa World Surfing Reserve Committee which opportunities within this
successfully campaigned to the World Surfing growing segment. We
Reserve authority to have Noosa named as the attended Backpacker &
10th World Surfing Reserve. This recognises Youth Week on the Gold facebook.com/BackpackNoosa
#backpacknoosa
the community’s coastal management over Coast with tourism experts
several decades, which has resulted in Noosa’s and industry leaders, the World Youth Student
international reputation as one of surfing’s natural and Education exchange and Backpacker Week
wonders. in Sydney, and an Adventure Queensland event
in Airlie Beach. Noosa also hosted social media
Welcome to Noosa and influencers in the adventure sector.
Noosa Eco Check
Welcome to Noosa, Segment marketing
a professional Other market segments including weddings and
development business events are also important, with marketing
customer service activity and dedicated sections on the visitnoosa
program delivered website for both of these areas featuring operator
by Tourism Noosa listings and support.
continues to help
We partnered with local operators on a business
local businesses
events showcase, coordinating a famil and event
and their teams.
showcase for decision-makers in corporate events
Our Tourism in Schools project engages hospitality (pictured).
and tourism students in both our Welcome to
Noosa and Noosa Eco Check programs, and
students are also offered work experience
placements with Tourism Noosa in the Visitor
Information Centre and at events including the
Noosa Tri and Noosa Food & Wine Festival.
Stage 2 of Noosa Eco Check, which encourages
the implementation of environmentally friendly
business practices, is under way, showcasing 17
community groups and Tourism Noosa members.
visitnoosa.com.au 11
Section 12
FINANCIAL REPORT FOR THE
YEAR ENDED 30 JUNE 2018
CONTENTS
Tourism Noosa Ltd
ABN: 45 097 924 199
Directors’ Report
Auditor’s Independence Declaration
Statement of Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Financial Statements
Directors’ Declaration
Independent Audit Report
PERCENTAGE ALLOCATION
OF EXPENDITURE 2017-2018
11% 63% 26%
MEMBERSHIP MARKETING INDUSTRY
& CORPORATE & EVENTS DEVELOPMENT &
SUSTAINABILITY
12 visitnoosa.com.au
Section 13
TOURISM NOOSA LTD |
ABN: 45 097 924 199
Financial Report For The Year Ended
30 June 2018
=
StratogenSection 14
Tourism Noosa Ltd ABN: 45 097 924 199 Financial Report For The Year Ended 30 June 2018 CONTENTS Page Directors' Report 1 Auditor's Independence Declaration 2 Statement of Comprehensive Income 3 Statement of Financial Position 4 Statement of Changes in Equity 5 Statement of Cash Flows 6 Notes to the Financial Statements 7 Directors’ Declaration 14 Independent Audit Report 15
Section 15
TOURISM NOOSA LTD
ABN: 45 097 924 199
DIRECTORS’ REPORT
Your directors present this report on the company for the financial year ended 30 June 2018.
Directors
The names of each person who has been a director during the year and fo the date of this report are:
Steven McPharlin
Erina Kilmore
Darren McClenaghan (appointed 25 Oct 2017)
Drew Pearson
Judi Lalor (resigned 21 Sept 2018)
Elizabeth Reynolds
Michelle Mason (appointed 25 Oct 2017)
Michael Tarrant (resigned 25 Oct 2017)
Wade Batty (resigned 30 June 2018)
Mark Wilkinson
Richard Stephens
Nick Heath (appointed 25 Oct 2017)
Stephen Gregg (resigned 8 Aug 2017)
Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.
Operating Result
The operating surplus of the company for the financial year after providing for income tax amounted to:
Year Ended Year Ended
30 June 2018 30 June 2017
$169,475 $3,901
Principal Activities
The principal activity of the entity during the financial year was the management and marketing of Noosa as a tourism
destination.
There were no significant changes in the nature of the company’s principal activities during the financial year.
Meetings of Directors
During the financial year, nine meetings of directors were held. Attendances by each director were as follows:
Directors' Meetings
No. eligible to attend No. attended
Steven McPharlin 9 8
Wade Batty 9 7
Darren McClenaghan 6 6
Drew Pearson 9 7
Judi Lalor 9 7
Elizabeth Reynolds 9 9
Michelle Mason 6 6
Michael Tarrant 3 ]
Erina Kilmore 9 7
Richard Stephens 9 6
Nick Heath 6 6
Stephen Gregg ] 0
Mark Wilkinson 9 6
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 $10 each towards meeting
any outstanding obligations of the company.
Auditor's Independence Declaration
The auditor's independence declaration for the year ended 30 June 2018 has been received and can be found on page
2 of the financial report.
Signed in accordance with a resolution of the Board of Directors.
(>
Director _~_>—"* * Ss, - —~ a
Steven McPharlin
1O y Ockober
Dated this day of 2018Section 16
TOURISM NOOSA LTD
ABN: 45 097 924 199
AUDITOR’S INDEPENDENCE DECLARATION UNDER S 307C OF
THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF TOURISM NOOSA LTD
| declare that, to the best of my knowledge and belief, during the year ended 30 June 2018 there
have been:
(i) no contraventions of the auditor independence requirements as set out in the Corporations Act
2001 in relation to the audit; and
(ii) no contraventions of any applicable code of professional conduct in relation to the audit.
Name of Firm Stratogen Audit Services Pty Ltd
| My Philip Rafter CA
Date lo bckeber 207
Address 1 / 59 Mary Street, Noosaville Qld 4566Section 17
TOURISM NOOSA LTD
ABN: 45 097 924 199
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2018
Note 2018 2017
$ $
Revenue 2 2,538,415 2,511,427
Other income 2 935,236 813,884
Employee provisions expense 3 (1,103,916) — (1,036,484)
Depreciation and amortisation expense 3 (24,005) (26,183)
Motor vehicle expenses 3 (41,097) (26,308)
Utilities expense 3 (4,153) (3,876)
Rental expense 3 (63,071) (64,675)
Audit Fees 3 (8,930) (10,540)
Staff training and development expenses 3 (18,718) (7,374)
Marketing expenses 3 (1,807,777) (1,772,552)
Sundry expenses 3 (232,509) (375,418)
Current year surplus before income tax 169,475 1,90]
Adjustment Prior Period Accruals 2,000
Income tax expense 1 (i) - -
Net current year surplus 169,475 3,901
The accompanying notes form part of these financial statements.Section 18
TOURISM NOOSA LTD
ABN: 45 097 924 199
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2018
Note 2018 2017
$ $
ASSETS
CURRENT ASSETS
Cash on hand 4 849,978 790,228
Accounts receivable and other debtors 5 97,49] 44,043
Pre-Paid Expenses 16,863 6,055
Refundable Bond 3)950 -
Inventories on hand 6 - -
TOTAL CURRENT ASSETS 968,282 840,326
NON-CURRENT ASSETS
Property, plant and equipment 7 184,444 148,276
Intellectual Property 42,110 42,110
Deposits - Rental Bond 6,062 6,062
TOTAL NON-CURRENT ASSETS 232,616 196,448
TOTAL ASSETS 1,200,898 1,036,774
LIABILITIES
CURRENT LIABILITIES
Accounts payable and other payables 8 391,059 442,913
Sundry - -
Noosa Food and Wine Control Account (718) -
Returned Funds to be Paid 10,201 -
Payments in Advance 6,250 -
PAYG 9 36,886 13,888
Provisions - contingency 9 - -
Employee provisions 9 101,469 81,766
TOTAL CURRENT LIABILITIES 545,147 538,567
NON-CURRENT LIABILITIES
Employee provisions 9 21,022 32,953
TOTAL NON-CURRENT LIABILITIES 21,022 32,953
TOTAL LIABILITIES 566,169 571,520
NET ASSETS 634,729 465,254
EQUITY
Retained surplus 634,729 465,254
TOTAL EQUITY 634,729 465,254
The accompanying notes form part of these financial statements.Section 19
TOURISM NOOSA LTD
ABN: 45 097 924 199
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2018
Retained Revaluation —_ Financial Assets
Note Surplus Surplus Reserve Total
$ $ $ $
Balance at 1 July 2016 461,353 - - 461,353
Comprehensive Income
Surplus for the year attributable to members of the entity 3,901 - - 3,901
Total comprehensive income attributable to members of the entity 3,901 - - 3,901
Balance at 30 June 2017 465,254 - - 465,254
Comprehensive Income
Surplus for the year attributable to members of the entity 169,475 - - 169,475
Total comprehensive income attributable to members of the entity 169,475 - - 169,475
Other transfers
Cumulative revaluation surplus relating to sale of property, transferred
to retained earnings a = es =
Total other transfers - - “ -
Balance at 30 June 2018 634,729 - - 634,729
The accompanying notes form part of these financial statements.Section 20
TOURISM NOOSA LTD
ABN: 45 097 924 199
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2018
Note 2018 2017
$ $
CASH FLOW FROM OPERATING ACTIVITIES
Commonwealth, State and Local Government grants 2,520,000 2,495,011
Receipts from other income 885,551 808,987
Payments to suppliers and employees (3,328,048) (3,351,136)
Interest received 18,415 16,416
Dividends received - -
Interest paid - -
Net cash generated from operating activities 95,918 (30,722)
CASH FLOW FROM INVESTING ACTIVITIES
Proceeds from sale of property, plant and equipment - -
Loss on Disposal of Assets - -
Payment for property, plant and equipment (36,168) (68,519)
Net cash used in investing activities (36,168) (68,519)
CASH FLOW FROM FINANCING ACTIVITIES
Net cash used in financing activities - -
Net increase/(decrease) in cash held 59,750 (99,241)
Cash and cash equivalents at the beginning of the financial year 790,228 889,469
Cash and cash equivalents at the end of the financial year 4 849,978 790,228
The accompanying notes form part of these financial statements.Section 21
TOURISM NOOSA LTD
ABN: 45 097 924 199
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018
The financial statements cover Tourism Noosa Ltd as an individual entity, incorporated and domiciled in
Australia. Tourism Noosa Lid is a company limited by guarantee.
Note 1 Summary of Significant Accounting Policies
Basis of Preparation
The financial statements are general purpose financial statements that have been prepared in
accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and
the Corporations Act 2001 . The company is a not-for-profit entity for financial reporting purposes under
Australian Accounting Standards.
Australian Accounting Standards set out accounting policies that the AASB has concluded would result in
financial statements containing relevant and reliable information about transactions, events and
conditions. Material accounting policies adopted in the preparation of these financial statements are
presented below and have been consistently applied unless stated otherwise.
The financial statements, except for the cash flow information, have been prepared on an accruals basis
and are based on historical costs, modified, where applicable by the measurement at fair value of
selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial
statements have been rounded to the nearest dollar.
Accounting Policies
(a) Revenue
Non-reciprocal grant revenue is recognised in profit or loss when the entity obtains control of the
grant and it is probable that the economic benefits gained from the grant will flow to the entity
and the amount of the grant can be measured reliably.
If conditions are attached to the grant which must be satisfied before it is eligible to receive the
contribution, the recognition of the grant as revenue will be deferred until those conditions are
satisfied.
When grant revenue is received whereby the entity incurs an obligation to deliver economic
value directly back to the contributor, this is considered a reciprocal transaction and the grant
revenue is recognised in the statement of financial position as a liability until the service has
been delivered to the contributor, otherwise the grant is recognised as income on receipt.
Donations and bequests are recognised as revenue when received.
Interest revenue is recognised using the effective interest rate method, which for floating rate
financial assets is the rate inherent in the instrument. Dividend revenue is recognised when the
right to receive a dividend has been established.
Revenue from the rendering of a service is recognised upon the delivery of the service to the
customer.
All revenue is stated net of the amount of goods and services tax (GST).
(b) Inventories on hand
Inventories are measured at the lower of cost and current replacement cost.
Inventories acquired at no cost or for nominal consideration are measured at the current
replacement cost as at the date of acquisition.
(c) Property, Plant and Equipment
Each class of property, plant and equipment is carried at cost or fair value as indicated, less,
’ where applicable, accumulated depreciation and impairment losses.
Plant and Equipment
Plant and equipment are measured on the cost basis and are therefore carried at cost less
accumulated depreciation and any accumulated impairment losses. In the event the carrying
amount of plant and equipment is greater than its estimated recoverable amount, the carrying
amount is written down immediately to its estimated recoverable amount and impairment
losses are recognised either in profit or loss or as a revaluation decrease if the impairment losses
relate to a revalued asset. A formal assessment of recoverable amount is made when
impairment indicators are present (refer to Note 1 (f) for details of impairment).
Subsequent costs are included in the asset's carrying amount or recognised as a separate asset,
as appropriate, only when it is probable that future economic benefits associated with the item
will flow to the company and the cost of the item can be measured reliably. All other repairs
and maintenance are recognised as expenses in profit or loss in the financial period in which
they are incurred.Section 22
Plant and equipment that have been contributed at no cost, or for nominal cost are recognised
at the fair value of the asset at the date it is acquired.
Depreciation
The depreciable amount of all fixed assets, including buildings and capitalised lease assets but
excluding freehold land, is depreciated on a straight-line basis over the asset's useful life to the
entity commencing from the time the asset is available for use. Leasehold improvements are
depreciated over the shorter of either the unexpired period of the lease or the estimated useful
lives of the improvements.
The depreciation rates used for each class of depreciable assets are:
Class of Fixed A: Depreciation Rate
Plant and equip 7.5 - 40%
The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at the
end of each reporting period.
Gains and losses on disposals are determined by comparing proceeds with the carrying
amount. These gains or losses are recognised as income in profit or loss in the period in which
they arise. When revalued assets are sold, amounts included in the revaluation surplus relating to
that asset are transferred to retained surplus.
(d) Leases
Leases of property, plant and equipment where substantially all the risks and benefits incidental
to the ownership of the asset (but not the legal ownership) are transferred to the entity, are
classified as finance leases.
Finance leases are capitalised, recognising an asset and a liability equal to the present value of
the minimum lease payments, including any guaranteed residual values.
Leased assets are depreciated on a straight-line basis over their estimated usetul lives where IT Is
likely that the entity will obtain ownership of the asset. Lease payments are allocated between
the reduction of the lease liability and the lease interest expense for the period.
Lease payments for operating leases, where substantially all the risks and benefits remain with
the lessor, are recognised as expenses on a straight-line basis over the lease term.
Lease incentives under operating leases are recognised as a liability and amortised on a straight-
line basis over the life of the lease term.
(e) Impairment of Assets
At the end of each reporting period, the entity reviews the carrying values of its tangible and
intangible 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 recognised in profit or
loss.
Where the future economic benefits of the asset are not primarily dependent upon the asset's
ability to generate net cash inflows and when the entity would, if deprived of the asset, replace
its remaining future economic benefits, value in use is determined as the depreciated
replacement cost of an asset.
Where it is not possible to estimate the recoverable amount of an individual asset, the entity
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Where an impairment loss on a revalued asset is identified, this is recognised against the
revaluation surplus in respect of the same class of asset to the extent that the impairment loss
does not exceed the amount in the revaluation surplus for that class of asset.
(f) Employee Provisions
Provision is made for the company's liability for employee benefits arising from services
rendered by employees to the end of the reporting period. Employee provisions that are
expected to be settled within one year have been measured at the amounts expected to be
paid when the liability is settled. Employee provisions payable later than one year have been
measured at the present value of the estimated future cash outflows to be made for those
benefits. In determining the liability, consideration is given to employee wage increases and the
probability that the employee may not satisfy vesting requirements. Those cash outflows are
discounted using market yields on national government bonds with terms to maturity that match
the expected timing of cash flows attributable to employee provisions.
Contributions are made by the entity to an employee superannuation fund and are charged
as expenses when incurred.Section 23
(g) Cash on Hand
Cash on hand includes 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. Bank
overdrafts are shown within short-term borrowings in current liabilities on the statement of
financial position.
(h) Accounts receivable and other debtors
Accounts receivable and other debtors include amounts due from members as well as amounts
receivable from customers for goods sold in the ordinary course of business. Receivables
expected to be collected within 12 months of the end of the reporting period are classified as
current assets. All other receivables are classified as non-current assets.
Accounts receivable are initially recognised at fair value and subsequently measured at
amortised cost using the effective interest rate method, less any provision for impairment. Refer
to Note 1(e) for further discussion on the determination of impairment losses.
(i) Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the
amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).
Receivables and payables are stated inclusive of the amount of GST receivable or payable. The
net amount of GST recoverable from, or payable to, the ATO is included with other receivables
or payables in the statement of financial position.
Cash flows are presented on a gross basis. The GST components of cash flows arising from
investing or financing activities which are recoverable from, or payable to, the ATO are
presented as operating cash flows included in receipts from customers or payments to suppliers.
(i) Income Tax
No provision for income tax has been raised as the entity is exempt from income tax under Div
50 of the Income Tax Assessment Act 1997.
(k) Provisions
Provisions are recognised when the entity 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 reporting period.
()) Comparative Figures .
Where required by Accounting Standards comparative figures have been adjusted to conform
with changes in presentation for the current financial year.
when an entity applies an accounting policy retrospectively, makes a retrospective
restatement or reclassifies items in its financial statements, a statement of financial position as at
the beginning of the earliest comparative period must be disclosed.
(m) Accounts Payable and Other Payables
Accounts payable and other payables represent the liability outstanding at the end of the
reporting period for goods and services received by the company during the reporting period
which remain unpaid. The balance is recognised as a current liability with the amounts normally
paid within 30 days of recognition of the liability.
(n) Critical Accounting Estimates and Judgments
The directors evaluate estimates and judgments incorporated into the financial statements
based on historical knowledge and best available current information. Estimates assume a i
reasonable expectation of future events and are based on current trends and economic data,
obtained both externally and within the company.
(0) Economic Dependence
Tourism Noosa Ltd is dependent on the collection of the Tourism Levy via the Noosa Council for
the majority of its revenue to operate the business. At the date of this report, the Board of
Directors confirms that Tourism Noosa Lid have an agreement with the Noosa Council to collect
the levy on behalf of Tourism Noosa Ltd for 3 years, and, following a review, to collect the levy
for a further 2 years.Section 24
Note 2 Revenue and Other Income
2018 2017
Revenue S$ $
Revenue from (non-reciprocal) government grants and other grants
Tourism Levy 2,520,000 2,495,011
2,520,000 2,495,011
Other revenue
: Interest received on investments in government and fixed interest 18,415 16,416
18,415 16,416
Total revenue 2,538,415 2,511,427
Other income
Membership 277,302 222,494
Bookings Centre 198,970 219,218
Visitor Information Centre 12,851 4,966
Destination Marketing 126,402 149,719
Industry Development 1,303 3,005
Special Projects 318,408 214,482
Total other income 935,236 813,884
Total revenue and other income 3,473,651 3;325,311
Note 3 Expenses
2018 2017
$ $
Employee benefits expense
Employee wages 1,057,775 960,191
Contributions to superannuation funds 46,141 76,293
Total employee benefits expense 1,103,916 1,036,484
Depreciation and amortisation:
Motor vehicle 324 556
Furniture and equipment 23,681 25,627
Total depreciation and amortisation 24,005 26,183
Rental expense
Corporate - Rent 44,458 44,138
Corporate - Equipment Rental 7,982 9,129
Booking Centre - Equipment Rental 4,133 4,540
Visitor Information Centre - Equipment Rental 4,133 4,540
Visitor Information Centre - Rent 2,365 2,328
Total Rental Expense 63,071 64,675
Auditor fees
Audit services 8,930 10,540
Taxation services - -
Total Audit Remuneration 8,930 10,540
Motor Vehicle Expense
Motor Vehicle Expense 41,097 26,308
Total Motor Vehicle Expense 41,097 26,308
Utilities
Operations Electricity 4,153 3,876
VIC Electricity Ss _
Total Utilities 4,153 3,876Section 25
Marketing Expense
Operations excluding audit, Rent, Depn, MV Equip Rent, Emp Exp 118,610 173,307
Events sponsorship 644,926 547,017
Media / PR 146,955 138,792
Digital 87,599 59,871
Campaigns 628,816 608,137
International marketing 169,883 178,564
Regional activities - 46,198
Workcover 3,215 3,694
LSL/ Leave liability adjustment 1473 16,972
Total Marketing Expense 1,807,777 1,772,552
Staff Development & Training
Operations staff training 15,734 5,172
VIC staff development & training 2,984 2,202
Total Staff Development & Training 18,718 7,374
Sundry expenses
Membership 21,868 15,845
Industry Development excluding wages 107,124 262,444
Booking centre excluding audit, wages and equipment rental 39,257 46,955
VIC excluding Dep, equipment rental, rent, staff training, wages 49,816 50,174
Segments 14,444 -
Total Sundry Expenses 232,509 375,418
3,304,176 3,323,410
Note 4 Cash and Cash Equivalents
2018 2017
$ $
CURRENT
Bendigo Bank Forward Bookings 177,696 157,546
Bendigo Bank General 628,752 131,862
Term Deposit Funds 3,029 500,000
CBA Noosa Food and Wine 29,930 =
Cash Floats 820 820
Undeposited Funds 9,751 -
Total cash and cash equivalents as stated in the statement of finan: 849,978 790,228
Total cash and cash equivalents as stated in the cash flow stateme! 849,978 790,228
Note 5 Accounts Receivable and Other Debtors
2018 2017
$ $
CURRENT
Accounts receivable 97,49 | 44,043
97,491 44,043
GST Refundable - -
Total current accounts and other receivables 97,491 44,043
Note 6 Inventories on Hand
2018 2017
$ $
CURRENT
Inventory at cost - :Section 26
Note 7 Property, Plant and Equipment
2018 2017
$ $
PLANT AND EQUIPMENT
Plant and Equipment at cost 149,333 138,729
(Accumulated depreciation) (95,899) (79,694)
53,434 59,034
Visitor Information Centre Assets at cost 107,831 106,419
(Accumulated depreciation) (92,816) (86,810)
15,015 19,609
Motor Vehicles at cost 20,900 20,900
(Accumulated Depreciation) (20,900) (19,771)
- 1,129
Renovated Marina Office 2016 40,727 40,727
(Accumulated Depreciation) (1,240) (656)
39,487 40,071
Renovated Marina Office 2014 21,511 21,511
(Accumulated Depreciation) (1,958) (1,446)
19,553 20,065
Renovation of Office at cost 8,705 8,705
(Accumulated Depreciation) (1,540) (1,354)
7,165 7,351
Extension VIC 2018 at cost 48,961 -
(Accumulated Depreciation) (188) -
48,773
Artwork at cost 1,017 1,017
Total plant and equipment 184,444 148,276
Total property, plant and equipment 184,444 148,276
Note 8 Accounts Payable and Other Payables
2018 2017
$ $
CURRENT
Accruals 163,090 113,807
Unearned Income 4,360 69,310
Accounts payable 118,185 140,210
Forward Bookings 177,696 157,546
GST Payable (78,410) (38,817)
Credit Cards 6,138 857
391,059 442,913
Note 9 Employee Provisions
CURRENT 2018 2017
Short-term Employee Benefits $ S
Opening balance at 1 July 81,766 69,448
Movements during the year 19,703 12,318
Balance at 30 June 101,469 81,766
PAYG Tax 36,886 13,888
NON-CURRENT
Long-term Employee Benefits (Long Service Leave)
Opening balance at 1July 32,953 10,819
Movements during the year (11,931) 22,134
Balance at 30 June 21,022 32,953Section 27
Employee Provisions
Employee provisions represent amounts accrued for annual leave and long service leave.
The current portion for this provision includes the total amount accrued for annual leave entitlements and
the amounts accrued for long service leave entitlements that have vested due to employees having
completed the required period of service. Based on past experience the company does not expect the
full amount of annual leave or long service leave balances classified as current liabilities to be settled
within the next 12 months. However, these amounts must be classified as current liabilities since the
company does not have an unconditional right to defer the settlement of these amounts in the event
employees wish to use their leave entitlement.
The non-current portion for this provision includes amounts accrued for long service leave entitlements that
have not yet vested in relation to those employees who have not yet completed the required period of
service.
Note 10 Related Party Transactions
Gi Key Management Personnel
Any person(s) having authority and responsibility for planning, directing and controlling the
activities of the company, directly or indirectly, including any director (whether executive or
otherwise) is considered key management personnel.
2018 2017
Key Management Personnel Compensation $ $
- Directors Expenses Reimbursement 21,339 20,167
21,339 20,167
Transactions between related parties are on normal commercial terms and conditions no more favourable
than those available to other persons unless otherwise stated.
Note 11 ___ Entity Details
The registered office of the entity is:
Tourism Noosa Ltd
Shop 22 Noosa Harbour Marine Village
2 Parkyn Court
Tewantin QLD 4565
The principal place of business is:
Tourism Noosa Ltd
Shop 22 Noosa Harbour Marine Village
2 Parkyn Court
Tewantin QLD 4565
Note 12. Members' Guarantee
The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the
entity is wound up, the constitution states that each member is required to contribute a maximum of
$10.00 each towards meeting any outstandings and obligations of the entity.Section 28
TOURISM NOOSA LTD .
, ABN: 45 097 924 199
DIRECTORS’ DECLARATION
In accordance with a resolution of the directors of Tourism Noosa Ltd, the directors of the company
declare that:
|. The financial statements and notes, as set out on pages 3 to 15, are in accordance with the
Corporations Act 2001 and:
(a) comply with Australian Accounting Standards; and
(b) give a true and fair view of the financial position of the company as at 30 June 2018 and its
performance for the year ended on that date.
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.
Steven McPharlin
Dated this \O dayof Ochober 2018Section 29
TOURISM NOOSA LTD
ABN: 45 097 924 199
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
TOURISM NOOSA LTD
Report on the Financial Report
We have audited the accompanying financial report of Tourism Noosa Ltd, which comprises the statement of
financial position as at 30 June 2018, the statement of profit or loss, statement of other comprehensive income,
statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of
significant accounting policies and other explanatory information and the directors’ declaration.
Directors' Responsibility for the Financial Report
The directors of the company are responsible for the preparation and fair presentation of the financial report that
gives a true and fair view 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
gives a true and fair view and is free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in
accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical
requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about
whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
report. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material
misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the company's preparation of the financial report that gives a true and fair view
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as
evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
Independence
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We
confirm that the independence declaration required by the Corporations Act 2001, which has been given to the
directors of Tourism Noosa Ltd, would be in the same terms if given to the directors as at the time of this auditor's
report.
Opinion
In our opinion, the financial report of Tourism Noosa Ltd is in accordance with Corporations Act 2001, including:
(i) giving a true and fair view of the company’s financial position as at 30 June 2018 and of its performance for
the year ended on that date; and
(ii) complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis of Accounting
without moaitying Our opinion, we draw attention to Note | To the tinancial report, wnich describes the basis ot
accounting. The financial report has been prepared for the purpose of fulfilling the directors’ financial reporting
responsibilities under the Cprporations Act 2001. As a result, the financial report may not be suitable for another
purpose.
Auditor's signatur
Address: Stratogen Audit Services Pty Ltd
1/59 Mary Street Noosaville, Qld
Dated this ho te day of choke 2018Section 30
T 07 5430 5000 E [email protected] PO Box 581 Noosa Heads, Queensland Australia 4567 visitnoosa.com.au