STIRLING GOLF CLUB. Established 1869

Transcription

1 STIRLING GOLF CLUB Established 1869 ANNUAL REPORT AND ACCOUNTS For year ended 31 October 2013

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6 Captains Report 2013 As I looked out the window on Opening Day and saw the freezing temperatures and the snow falling, I really wondered if this was an indication of how the year was going to go. I can vividly remember standing on the first tee, hands shaking, not sure if it was the cold or if the nerves that had kicked in. Anyway, I managed somehow to get that first drive away, so Kenny, that s the last two successive Captains found the fairway!!!! My Captaincy has gone past in a blur and there have been several highlights during the year, so if you indulge with me a little, I will run past a few of these. The enormous personal pride I have in having been Captain of this great club surpasses anything else that has gone on in the year for me. It only seems like yesterday that Murray asked me and I sought advice from my dad on whether I should carry out the role. The look of pride on his face soon convinced me! Back in July, we finally managed to get all the documents signed that enabled the 150 year lease for the Course to finally go ahead. On 15 th August, the Club hosted a formal signing ceremony attended by the Secretary of State for Scotland, Scottish Government Culture Minister, the Leader of Stirling Council plus other dignitaries. This was a great success and gave us a unique opportunity to showcase the product we have here. As a Club we will always be indebted to the role played by Ian Gillies in all this and as a result I would like the Club to recognise this by bestowing him Honorary Membership of Stirling Golf Club. At this particular time I would also like to say a huge thank you to Past Captain Andy Malcolm who provided the drive needed to get the issue of the course lease concluded. Now I will go onto the main reason we are all here, the Golf Course. I am sure all of you will have witnessed the hard work that our new Course Manager, James Lindsay, and his team have carried out this year and the rewards are clear for all to see. We have had a Course that has been presented in fantastic condition, with every detail of the course being maintained and examined. The weather we had this year was absolutely magnificent, and here s hoping that we have another summer just like it in Although Mr Lindsay is quick to tell us that there was only 4 months between frosts so it was not all perfect. We have worked very hard at integrating all areas of the club, to enable this to happen the committee invited the Ladies Captain, Rose Graham and the Young Persons Convenor, Lesley Campbell, along to all the Committee Meetings. I am fairly certain that both found this a huge success and I know my successor plans to expand on this next year. Ladies 2013 has been a very challenging year for the Ladies section, Captain Rose Graham has had the extra challenge this year of not having the support of a Vice Captain to rely on. I cannot praise Rose enough for her hard work and diligence that she has shown this year. Rose has played a pivotal role in providing committee with an

7 insight into the views of the Ladies and potential solutions to retain and recruit lady members to the club. Young Persons The hard work carried out by Lesley Campbell and her team is now starting to bear fruit with a vibrant Young Person s section. The growth of this section has been a huge success and Lesley and her team deserve enormous credit for this. Ian Collins and his assistants have held coaching during both Easter and Summer holidays. The club and young people are grateful to Ian and his staff as we are fully aware of the time constraints that can be involved in this. Now that Palmer is qualified I am sure Ian will be relieved that it is not all falling on his shoulders!! The coaching has clearly assisted, as handicaps within the section have been tumbling during the season. Congratulations to Lee Gordon on winning the Junior Championship for 2013 and also to Andrew Stewart and Daniel Roe, who won the Scratch and Handicap trophies respectively. I had the privilege of attending the Young Person Prizegiving in October and was delighted to see the kids turn out in great numbers. Other Events The Captains Charity Day in August in aid of the Beatson Oncology Unit, through Cheryl s wish, proved to be a great success. In excess of 2,000 was raised and I will forever be extremely grateful to all who contributed. Special thanks to Lady Captain Rose who was the driving force behind the day and to Andy Hornall who kindly donated the excellent food for the event. In September, the club had the honour of hosting the Scottish Ladies Golf Association ( SLGA) Inter Counties Championships. Midlothian, Aberdeenshire & Renfrewshire all tied on the same points at the end of the event with Midlothian being declared the winners on count back. Having been present throughout the weekend, I was very impressed by the golf and pleased by the positive feedback we received from competitors. After last years relegation to the County B Division, I am delighted to report the Club Team were successful in winning this league. Normally this would mean promotion to the top A Division but reconstruction has taken place during the season. The County is now being divided into two leagues of five, the winners of each will compete in a Finals Day hosted by the Club in early September I hope to see our team competing in this Finals Day. I have to say a major highlight for me was Championship Finals Day. The amount of members who turned up to support on the day was a joy to see and one that was fully appreciated by all. Club Champion, for a 5 th time, was Ian Munro who came back from two down after 31 holes to win with a birdie at the last to beat Liam Haldane.

8 Ian also won the Strokeplay title thus giving him the double two years in a row. Alison Davidson defeated Tricia Chillas in the Ladies Championship Final to win the event for the 7th time. Captaincy had a positive effect on my golf as I managed to reduce my actual handicap during the season and win the Festival Trophy. This was a particular highlight in my own year along with being able to play with Ian Collins in the Captains Pro Event at Crail GC. In August, the Club were delighted to host and once again win the John L Clink Trophy in our Annual Match against The St Andrews Club. I am sure Jim McKerchar will have the team doing their utmost next year to try and win for the 4 th year in a row. However, be aware, after Kenny and I being invited over to play the Old Course by their Captain & Vice Captain, I am acutely aware of how desperate they are to get there hands back on the trophy!! Membership CONSTITUTIONAL CHANGE Since the commencement of 2013, the committee have been undertaking a review of our membership categories and business practices within the Club. Part of the membership review involved an examination of our constitution and potential ways to allow the club to react to changes in social and economic practices. The Constitution is a governance document which clearly details how to gain and maintain membership of the club and how the club should be managed. The review of the current constitution revealed that we were unable to react quickly enough to change in membership patterns or the social conditions in the area. The review also examined our current membership profile and a discussion meeting was held in September with the membership regarding this. The analysis revealed that we had an ageing profile within the club, a gender imbalance and were struggling to retain young people when they converted from Young Person to Ordinary membership. Other categories, particularly Life, were also identified, if they remained in their current format, as being a potential risk to the club in the future. This was based on the qualification arrangements being historic at a time when the club had a long waiting list, a full membership and other factors. This category could best be described as a non-contributory pension and many members, particularly within this category, view Life as a recognition for their service to the club. Feedback from members regarding the review and analysis suggested: Alteration to membership categories to reflect changes in pension age (65 to 68). Increasing the qualification criteria for Life and Senior Membership

9 Assisting young people with the transition into Ordinary Membership Assisting juveniles into golf and the golf club The committee propose amending the constitution in response to the analysis and feedback from members. The changes in membership categories allow for the introduction of Junior Membership (8-18) to allow a staged approach and compliment the work of Club Golf. Amending Young Person to allow a gradual transitional regime for young people aged between 19 and 27 and changing Senior and Life to mirror changes in pension age. Life membership has also been updated to change the qualification criteria to 50 years this is based on comments that it should be based on service/association with the club and it should be a recognition. This update will clearly demonstrate that a member has continued beyond the service they required as an Ordinary Member and this category could return to a non-contributory status in the future. There was a view to remove this category or merge it with Senior, this was considered however would have had a significant impact on those who had already became Life Members and they would lose their right to Clubhouse membership. On a far more sombre note, in October we had the tragic loss to cancer of our Bar Manager, Janette Barr. Our sympathies and thoughts remain with the family and to all those who suffered a loss throughout the year. I would like to record my thanks to my committee and to all our Managers and employees who work so hard throughout the year to produce the product that we are all so proud of. In life we tend to take people for granted and for me it has been a real eye opener to see the volume of work that is undertaken. In particular I would like to thank most sincerely Derek Bond who has acted as Finance Convenor over the last 3 years and has put in a tremendous amount of work and is leaving the Club in excellent shape. The role of our Professional should never be taken for granted and as a Club we should be proud of the status Ian Collins has within the game of golf in Scotland. I would like to record my own personal thanks to Ian for the assistance he has given to me this year. I do however have to pay gratitude to two people in particular for their contribution this year. Kenny Stewart has been invaluable to me as he has been behind me all throughout the year and his drive behind the scenes will ensure that the club keeps moving forward. I would also like to record my absolute thanks to my wife Cherie, who for the last year has had to put up with me never being about the house, although she may say that hasn t been a bad thing!

10 Stirling Golf Club Income and expenditure account For the year ended 31 October 2013 Note Income Subscriptions and locker rental 2 435, ,199 Temporary members 20,000 20,000 Bar 3 35,825 28,683 Interest 3,148 4, , ,815 Expenditure Catering 4 20,800 20,800 Course 5 231, ,074 Clubhouse 6 140, ,862 Administration 7 69,668 75,335 Non recoverable VAT 30,323 25, , ,091 Surplus/(deficit) for year 1,245 4,724 Corporation Tax payable / (repayable) - - Net surplus for year transferred to general fund 1,245 4,724

11 Stirling Golf Club Balance sheet As at 31 October 2013 Note Fixed assets 8 463, ,085 Current assets 317 Ordinary shares Lloyds Banking Group Stock 9,374 6,723 Debtors and prepayments 9 7,325 9,114 VAT 4, Cash at bank and in hand 193, , , ,745 Creditors: amounts falling due within one year Trade creditors (24,589) (21,411) Course purchase fund - (42,705) Accruals (23,670) (29,169) Bank loan (17,737) - Deferred income (165,765) (121,050) (231,761) (214,335) Net current assets/(liabilities) (16,765) 85,410 Creditors: amounts falling due after one year Bank loan (232,129) - Net assets 214, ,495 Represented by: Sureties for waiting list - - Capital and reserves , , , ,495 Derek Bond, Finance Convenor 16 December 2013 Report of the auditors to the members The club's committee is responsible for the preparation of the financial statements which have been prepared under the historical cost convention and the accounting policies set out in the notes to the accounts. It is our responsibility to audit the financial statements and report to you our opinion as to whether the financial statements give a true and fair view. This report is made solely to the club's members and our audit work has been undertaken so that we might state to the members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not assume responsibility to anyone other than the club and the club's members as a body, for our audit work, for this report, or for the opinions we have formed. In our opinion the financial statements give a true and fair view of the state of the club's affairs as at 31 October 2013 and of the results of the club for the year then ended. Alan Skilling OStJ BA CA (Senior Statutory Auditor) Dated : 16 December 2013 for and on behalf of French Duncan LLP Chartered Accountants & Statutory Auditors Macfarlane Gray House Castlecraig Business Park Springbank Road Stirling Stirlingshire FK7 7WT

12 Stirling Golf Club Notes to the accounts For the year ended 31 October Accounting policies Depreciation Depreciation has been provided on the plant and machinery on a straight line basis at rates intended to write off each item over its expected useful life. The depreciation is written off against the capital fund. The leasehold property will be be amortised over the length of the lease, starting from 1st November The amortisation will be written off against the capital fund. Stocks Bar stocks are stated as valued by the independent stocktakers. Entry fees Entry fees are transferred direct to the capital fund. Surety for waiting list Sureties, on receipt, are transferred direct to the reserves. When those on the waiting list become members the surety is transferred to the capital fund. Capital fund This fund derives its income from visitors' fees in excess of 20,000 and the net income from the gaming machines as well as entry fees received from new members and dividends received. Capital expenditure on the clubhouse and grounds is written off against the capital fund during the year the expenditure is incurred. The cost of leasing capital equipment is also being charged against the capital fund Fee income Members subscriptions 428, ,385 Locker rental 6,896 6, , ,199 3 Bar Sales 146, ,915 Cost of sales (64,956) (71,289) Gross profit 81,792 84,626 Wages and associated costs (45,967) (55,943) 35,825 28,683 4 Catering Sales 4,680 4,680 Cost of sales - - Gross profit 4,680 4,680 Wages - - 4,680 4,680 Catering contract (25,480) (25,480) (20,800) (20,800) 5 Course expenditure Wages and social security 148, ,604 Fertilisers, dressings and other materials 25,450 30,022 Machinery maintenance 23,320 21,729 SGU / SLGA Levy 9,404 9,715 Other course expenditure 24,834 19, , ,074

13 Clubhouse expenditure Wages and social security 7,576 20,166 Wages contract 8,493 - Maintenance and repairs 16,293 10,959 Rent and rates 27,561 28,427 Insurance 6,246 5,685 Heat and light 18,824 32,601 Laundry and cleaning 9,855 7,731 Other clubhouse expenditure 46,046 36, , ,862 7 Administration expenditure Wages and social security 39,500 39,174 Professional costs 25,167 25,245 Competitions (7,903) (2,673) Printing and stationery 1,430 1,846 Equipment rental 1,323 1,307 Bank charges 2,009 2,088 Auditing and accountancy 2,500 2,500 Other professional fees 286 4,811 Other administration costs 1,146 1,037 Bank loan interest/arrangement fees 4,210-69,668 75,335 8 Tangible fixed assets Leasehold Plant & Property machinery Total Cost At 01/11/12-497, ,154 Additions 378, ,535 Disposals - (27,975) (27,975) At 31/10/13 378, , ,714 Depreciation At 01/11/12 - (382,069) (382,069) Charge for year - (30,183) (30,183) On Disposals - 27,975 27,975 At 31/10/13 - (384,277) (384,277) Net book value at 31/10/12-115, ,085 Net book value at 31/10/13 378,535 84, ,437 Capital expenditure on the clubhouse and grounds is allocated directly to the capital fund. 9 Debtors and prepayments Prepayments Other debtors 3,375 4,732 3,950 4,382 7,325 9,114

14 10 Secured debt The following secured debts are included within creditors Bank loans 249,866 - The Bank of Scotland holds a standard security over the lease of the property. An analysis of the maturity of the loans is given below: Amounts falling due within one year: 17,737 - Amounts falling due between one and two years: 17,737 - Amounts falling due between two and five years: 53,212 - Amounts due after more than five years: 161, Capital and reserves Revenue reserve Balance brought forward (21,013) (25,737) Surplus for year 1,245 4,724 (19,768) (21,013) Capital fund Balance brought forward 221, ,415 Depreciation of assets (30,183) (35,028) Hire/lease of equipment (10,613) - Entry fees 15,411 16,495 Visitors fees (in excess of 20,000) 35,174 28,388 Professional's commission on visitors fees (3,517) (2,839) Gaming machine income (net) 2, Contributions from 125 club 780 1,010 Bar levy forfeited 2,790 3, , ,508 Total capital and reserves 214, , Shares The market value of the Lloyds Banking Group shares as at 31 October 2013 was 246 ( ).

15 13 Funds flow statement Surplus on income and expenditure account 1,245 4,724 Surplus on capital fund 12,803 12,093 Depreciation of assets 30,183 35,028 Cash generated from operations 44,231 51,845 Opening bank and cash in hand 283, ,703 Cash generated from operations 44,231 51,845 Purchase of leasehold property (378,535) - (Increase)/decrease in stock (2,651) 920 (Increase)/decrease in debtors 1, (Increase)/decrease in VAT debtor (3,412) 2,052 Increase/(decrease) in trade creditors 3,178 (6,439) Increase/(decrease) in course purchase fund (42,705) 1,395 Increase/(decrease) in accruals (5,499) 5,651 Increase in deferred income 44,715 13,163 Increase/(decrease) in sureties for waiting list - (400) Increase/(decrease) in bank loans 249,866 - Closing balance per bank and cash in hand 193, ,011

16 Stirling Golf Club Income and expenditure account Plan for the year ended 31 October Budget Budget Income Subscriptions and locker rental 462, , ,753 Temporary members 20,000 20,000 20,000 Bar 32,509 35,825 26,659 Interest 2,000 3,148 5, , , ,412 Expenditure Catering 21,290 20,800 21,290 Course 237, , ,089 Clubhouse 135, , ,068 Administration 92,162 69,669 77,606 Non recoverable VAT 30,000 30,323 26, , , ,323 Surplus for year 360 1, Corporation Tax payable / (repayable) Net surplus for year transferred to general fund 360 1, Capital Funding 56,300 57,115 44,250 Capital Spend (49,000) (44,313) (52,000) Net Movement in Capital Fund 7,300 12,802 (7,750)

17 PRIZE WINNERS Season 2013 Competition Winner King James IV Stableford (500th Trophy) Grahame Cairns Victory Cup (Strokeplay) Paul Killorn Queen Victoria Jubilee Richard Park John Begg Trophy Brian Cree John Duncan Trophy Barry Davidson Tennent Cup (Stableford) John Docherty Presidents Cup Colin Nicol Chalmers Cup (Stableford) Ben Liddell King George Stroke play Sandy Gowans King Edward Coronation Gordon Appleby King George VI (Bogey) James Davidson Jimmy Cooper Trophy Scott Monteith Medal Final Winners Wednesday - Class 1 Greig McInnes Class 2 Will Dinan Class 3 Malcolm Murray Saturday - Class 1 Barry McIntyre Class 2 Alan Skilling Class 3 James McKean Spring & Autumn Meetings Spring Meeting - Scratch Medal Douglas Todd Handicap Prize Douglas Todd Autumn Meeting - Scratch Prize Alan Dryden Handicap Medal Ian Morrison Infirmary Cup William Kerr K G Patrick Medal Alan Dryden Matchplay and Premier Events Nimmo Cup - Winner Alan King Nimmo Cup - Runner - up Andy Hudson King George V Trophy - Winner Stuart Todd King George V Trophy - Runner - up Keiron Aldridge Club Foursomes Winners Jim McKerchar & Fred Findlay Club Foursomes Runners - up Martin Masterson & Scott Sutherland Captain's Prize Winner Malcolm Gardiner Captain's Prize Runnner - up Mike Hall President s Prize Iain Munro Vice President s Prize Brendan Watt Stroke Play Championships Strokeplay Champion Iain Munro Handicap Strokeplay Champion Graeme Fox S.G.C Opens Wilson Salver Hugh Clark & Chris McParland Hornall Trophy Jim Inglis Festival Trophy Captain James Todd Championships Club Champion Iain Munro Club Champion Runner - up Liam Haldane Handicap Champion Scott Sutherland Handicap Champion Runner - up Alastair Herbert Senior Champion Ian Muir Senior Champion Runner - up Andrew Aitken

18 Ladies Results- Season 2013 Club Competitions SLGA Brooch Kate Paterson IMF Brooch Linda Mathewson Golf Foundation Brooch Liz Guthrie SLGA Breakthrough Brooch Silver Linda Mathewson Bronze Phyllis Morrison RNLI Competition Fiona Campbell 18 hole Stablefords (Tues) Tricia Chillas 18 Hole Stablefords (Sat) Margaret Neilson 9 hole Stableford Competition Pam Waller Strokeplay Trophies Mary Queen of Scots Gold Medal Handicap prize Tasker Cup Handicap prize Silver Putter King George V1 Cup Handicap prize Queen Elizabeth Salver Handicap prize Veterans Trophy Wilson Trophy Victory Cup Davidson Quaich Alison Davidson Salver Twilight Trophy Silver Medal Bronze Medal Matchplay McKenzie Cup Coronation Bowl King George V Cup Palmer Trophy McKenzie Trophy(outing) Open Competitions Festival Trophy Kerr Tophy (Senior greensomes) Scratch Trophy(Senior greensomes) Club Championships Club Champion Handicap Champion Bronze Champion Maureen Noble Alison Davidson Fiona Campbell Anne Rankin Ann MacKenzie Lesley Campbell Elaine Allison Tricia Chillas Anne Rankin Ann MacKenzie Lyndsay Boyack Maureen Noble Anne Griffin Maureen Noble Linda Mathewson Kay Malcolm Maureen Noble Anne Rankin Helen Appleby Rose Graham Elaine Allison Ann Mackenzie & Fiona Anderson Maureen Noble, Ann Wallace & Jean McAllister Sheena McDonald, Moira Macleod & May Kirkham (Milngavie) Maureen Noble& Marion Stewart Tricia Chillas & Margaret Tough Alison Davidson Helen Appleby Margaret Neilson

19 Proposed Annual Subscriptions and Entry Fees for Membership Membership Subs Subs Entry Fees Entry Fees at 31/10/12 at 31/10/ Honorary Members Life Members Ordinary Members Senior Members Young Person Young Person Young Person Country Members Student Members Day Members Life House Members Overseas Members Clubhouse Members Bar/Restaurant Levy Committee propose to leave the levy at 50 for season 2013/14.

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