STIRLING GOLF CLUB. Established 1869

Transcription

1 STIRLING GOLF CLUB Established 1869 ANNUAL REPORT AND ACCOUNTS For year ended 31 October 2014

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3 Annual General Meeting Notice is hereby given that the 146 th Annual General Meeting of Stirling Golf Club will be held in the clubhouse on Wednesday 21 st January 2015 at 7.30pm. Agenda 1. Apologies 2. Minutes of the 145 th Annual General Meeting held on 15 January Matters Arising 4. Captain s Report 5. Finance Convener s Report G.A.Bowman Secretary 19 December Elections a) Captain b) Vice Captain c) Finance Convener d) Auditors e) Members of Committee 7. Other Competent Business The Motion is for the Portable Toilet to be reinstated on the course, from April to September inclusive, in (The proposal will be at a minimum cost, and will ensure compliance with all Health and Safety legislative requirements). Proposed David Boyack Seconded Mary Buchanan 8. Subscriptions & Entry Fees 9. Vote of Thanks Page 2

4 Contents 1. AGM notice 2. Committee meetings 3. Captain s Report 4. Accounts 5. Budgeted expenditure for Principal Competition Winners 7. Membership Numbers and Proposed Entry Fees & Annual Subscriptions for 2015 Committee Meetings Following the AGM, the Committee held 12 meetings during the year January to December 2014, the following is a summary of attendance. Office Bearers K.Stewart, Captain G.Cairns, Vice Captain R.Limmack, Finance Convener Attendance Committee Members A.Malcolm 10 J.Todd 9 R.Roy 9 L.Campbell 7 C.Brown 12 E.Hatton 9 L.Haldane 8 S.Hogg 6 Resigned July 2014 S.Gillespie 7 Resigned Sept 2014 A.Aitken 2 Co-opted Nov 2014 Secretary: Finance Officer: Solicitors: Auditors: Bankers: Garry A.Bowman Garnet M.Templeton Messrs Muirhead Buchanan, 8 Allan Park, Stirling, FK8 2QE Messrs Macfarlane Gray, Macfarlane Gray House, Castlecraig Business Park, Springbank Road,Stirling,FK7 7WT Bank of Scotland, 1 Munro Road, Stirling, FK7 7SY Page 3

5 Captain s Report 2014 As we move into 2015 it is time for me to submit my Captain s report for For me to be asked to be Captain of Stirling Golf Club by my good friend James Todd was indeed a great honour. I was lucky enough to have reasonable weather on Opening day and with my first drive I found the fairway by six inches. After a birdie birdie start my golf sadly deteriorated but my magnificent partner Catriona Brown managed to help me out when she had a net eagle at the last to salvage a half against my Vice-Captain Grahame Cairns and Junior Convener Lesley Campbell. When you move into the position of Captain you have to have the trust and confidence in your committee to go about the Club s business in a diligent manner. I was lucky enough to have four past Captains, James, Andy, Bobby and Catriona from the Ladies section to help me out with their wealth of experience. Robin has done a fantastic job keeping an eye on the finances. Our IT expert Eve continues to upgrade the website and is involved with all data and communications issues. Lesley and her team drive the junior section on, and Liam is learning the ropes with Match and Handicap. I also have to thank Stewart Gillespie for his contribution with Match and Handicap and the Greens throughout the season and I would also like to thank all the volunteers who helped out with the various sections. This committee have been very proactive in driving the business forward, attracting new members and after many years without a waiting list we had to open one up during the summer. Stirling Golf Club is in a healthy position compared to a lot of clubs in Scotland but we must not become complacent. We must continue to evolve with the development of the membership, course and clubhouse. Playing Season My Captains charity day was held in June and it was in aid of the Guide Dogs for the Blind and Partially Sighted. Again we were lucky with the weather. I had three fantastic ladies all of whom were great golfers but we came nowhere near the mind-blowing winning score of Stewart Gillespie, Hugh Lawson, Murray Ferguson and Ben Liddell. We managed to raise 2.5 K for this fantastic cause. After the golf all the competitors were treated to a mouth-watering indoor BBQ supplied by H & H Catering. My heartfelt thanks go out to all members who participated and gave donations. Season highlights were Alison Davidson winning the County Match play championship which was held at Stirling and then winning the Club Championship for the seventh time. New member Alan Watson completed the double, winning the Club Stroke play and Match play Championships. Fraser O Rourke won the Junior Match play championship. Later on in the season Stirling Golf Club also hosted the Fightmaster Cup which is a biennial match between the society of one armed golfers from Europe and the best from North America which resulted in a one sided victory for the Europeans. Also in September ideal conditions greeted the 48 couples from 14 different Counties who were competing at Ladybank Golf Club in the final of the Commonwealth Spoons. It was new Scottish cap Louise Macgregor and her partner Tricia Chillas (Stirling) that took this year s title with a net 72. Well done ladies. The annual match against St Andrews golf club was an away fixture this year and was played on the New and Jubilee courses. It was a very tight affair and I must admit I was panicking during an extremely windy afternoon that Stirling would struggle with the conditions. But as the trend over the previous 4 years, the team prevailed in the last few matches to retain the John L Clink Trophy. I was so proud to be Captain that day. The Captain s Pro event was held at a wet and windy Haggs Castle. Whilst Club Pro Ian Collins and I never threatened the prize list we had a great day, Ian is a wonderful person on the course always helping you with lines and has great course management. The County League format changed this year. Belhaven sponsored two divisions The Best and the Black and the top two in each division played out a semi-final and final which were held in perfect Page 4

6 conditions at Stirling where Glenbervie beat Falkirk Tryst 5-3. It was a very disappointing campaign for Stirling, after accumulating 9 points in the first 5 matches we could not add a single point in our last three matches losing them all. Congratulations to Stirling member Craig Lee who retained his European Tour playing rights for I also wish fellow member Nicola Robertson all the best with her studies and golf scholarship at King University out in America. My particular highlight was to be nominated by my fellow team members as the player s player of the year. I was lucky to win all my matches this year and felt honoured to receive this award. The playing season was rounded off with a series of enjoyable prize giving events for the different sections. In November the Gents was a Ryder Cup themed dinner with Great Britain / Europe former Captains providing the table names and Guest speaker Peter Brown finished the evening off with some hilarious stories. Course The condition of the course received many plaudits throughout the year and this is down to the hard work of Course Manager James Lindsay and his team, with particular praise coming from the Finalists in the County League playoffs in September. Next year we host the Scottish Senior Golf Society Match play so weather permitting I am sure we will be inundated with praise. Last year we commissioned world renowned golf course architect Howard Swan to do a report on Stirling Golf Club. It was the intent of the report to analyse the design of the current golf course at Stirling and to identify its strengths and its weaknesses, overall as well as in its component parts, in its operation and management and in its presentation. From that analysis stems a significant number of recommendations with regard to revising the design of the golf course, not extensively in terms of layout, often with regard to safety of play, but in its detailed design and the provision of its greens, tees and particularly bunkering. Our current Course manager has worked with Swan Designs with great success at two previous courses, Clandeboye and Donaghadee. Concluding Remarks I would like to thank all the staff at Stirling Golf Club for their commitment over the last year in making members, their guests and visitors feel welcome and their golfing and dining experience the best and most enjoyable it could be. Vice-Captain Grahame Cairns has helped me all year and has developed a good working relationship with new Club Manager Garry Bowman and I know Grahame will continue the good work that has been achieved over the last few years and drive the club forward. Finally I would like to thank you, the members for your support during the year and wish you all a happy and successful Page 5

7 Stirling Golf Club Income and expenditure account For the year ended 31 October 2014 Note Income Subscriptions and locker rental 2 449, ,739 Temporary members 20,000 20,000 Bar 3 30,885 35,825 Interest 825 3, , ,712 Expenditure Catering 4 20,800 20,800 Course 5 229, ,782 Clubhouse 6 121, ,894 Administration 7 74,364 69,668 Non recoverable VAT 36,455 30, , ,467 Surplus/(deficit) for year 18,041 1,245 Corporation Tax payable I (repayable) Net surplus for year transferred to general fund 18,041 1,245 Page 6

8 Stirling Golf Club Balance sheet As at 31 October 2014 Note Fixed assets 8 466, ,437 Current assets 317 Ordinary shares Lloyds Banking Group 12 Stock 8,733 9,374 Debtors and prepayments 9 10,314 7,325 VAT 1,746 4,309 Cash at bank and in hand 276, , , ,996 Creditors: amounts falling due within one year Trade creditors (78,635) (24,589) Accruals (15,845) (23,670) Bank loan (12,851) (12,651) Deferred income (165,397) (165,765) (272,728) (226,675) Net current assets/(liabilities) 24, 125 (11,679) Creditors: amounts falling due after one year Bank loan (228,099) (237,215) Net assets 262, ,543 Represented by: Sureties for waiting list Capital and reserves , , , ,543 The financial statements were approved by the committee on 17 December 2014 and signed on their behalf by: Robin Limmack, Finance Convener Independent Auditor's report to the members of Stirling Golf Club We have audited the financial statements of Stirling Golf Club for the year ended 31 October 2014 set out on pages 2 to 6. These financial statements have been prepared under the accounting policies set out on page 4. This report is made solely to the Club's members, as a body. Our audit work has been undertaken so that we might state to the Club's 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 accept or 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. Respective Responsibilities of the Committee and Auditors The Club's Committee is responsible for the preparation of the financial statements, in accordance with the constitution of the Club. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors. We report to you our opinion as to whether the financial statements are properly prepared in accordance with the Club's accounting policies. We also report to you if in our opinion, the Club has not kept proper accounting records or if we have not received all the information and explanations we require for our audit. Scope of the Audit of the Financial Statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give a reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the Club's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Committee; and the overall presentation of the financial statements. If we become aware of any apparent material misstatements we consider the implications for our audit report. Opinion In our opinion the financial statements give a true and fair view of the state of affairs of the Club as at 31 October 2014 and of its surplus/(deficit) for the year then ended and have been properly prepared in accordance with the Club's accounting policies. French Duncan LLP Chartered Accountants & Statutory Auditors Macfarlane Gray House Castlecraig Business Park Springbank Road Stirling, FK7 7WT 17 December 2014 Page 7

9 Stirling GolfClub Notes to theaccounts 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 is being amortised over the length of the lease, starting from 1st November The amortisation is written off against the capital fund. Stocks Bar stocks are stated as valued by the independent stock takers. 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. 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 442, ,843 Locker rental 6,597 6, , ,739 3 Bar Sales 158, ,748 Cost of sales (70,410) (64,956) Gross profit 88,161 81,792 Wages and associated costs (57,276) (45,967) 30,885 35,825 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 144, ,774 Fertilisers. Dressings and other materials 32,585 25,450 Machinery maintenance 20,380 23,320 SGU I SLGA Levy 9,584 9,404 Other course expenditure 22,498 24, , ,782 Page 8

10 6 Clubhouse expenditure Wages and social security 7,576 Cleaning contract 13,166 8,493 Maintenance and repairs 19,696 16,293 Rent and rates 2,432 27,561 Insurance 7,460 6,246 Heat and light 28,038 18,824 Laundry and cleaning 8,762 9,855 Other clubhouse expenditure 42,030 46, , ,894 7 Administration expenditure Wages and social security 44,222 39,500 Professional costs 27,944 25,167 Competitions (10,513) (7,903) Printing and stationery 1,375 1,430 Equipment rental 1,519 1,323 Bank charges (5,868) 2,009 Auditing and accountancy 2,500 2,500 Other professional fees 2, Other administration costs 1,427 1,146 Bank loan interest/arrangement fees 8,820 4,210 74,364 69,668 8 Tangible fixed assets Leasehold Plant & Property machinery Total Cost At 01/11/13 378, , ,714 Additions 34,227 34,227 Disposals (84,280) (84,280) At 31/10/14 378, , ,661 Depreciation At 01/11/13 (384,277) (384,277) Charge foryear (2,524) (28,316) (30,840) On Disposals 84,280 84,280 At 31/10/14 (2,524) (328,313) (330,837) Net book value at 31/10/13 378,535 84, ,437 Net book value at 31/10/14 376,011 90, ,824 Capital expenditure onthe clubhouse and grounds isallocated directlyto the capital fund. 9 Debtors and prepayments Prepayments 8,165 3,375 Other debtors 2,149 3,950 10,314 7,325 Page 9

11 10 Secured debt The following secured debts are included within creditors Bank loans 240, ,866 TheBankof 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: 12,851 12,651 Amounts falling due between one and two years: 12,851 12,651 Amounts falling due between two and five years: 38,552 37,953 Amounts due after more than five years: 176, , Capital and reserves Revenue reserve Balance brought forward (19,768) (21,013) Surplus for year 18,041 1,245 (1,727) (19,768) Capital fund Balance brought forward 234, ,508 Depreciation of assets (30,840) (30,183) Gain on disposal of assets 3,000 0 Hire/leaseofequipment (27,496) (10,613) Entry fees 21,618 15,411 Visitors fees (in excess of 20,000) 65,336 35,174 Professional's commission on visitors fees (6,269) (3,517) Gaming machine income (net) 1,503 2,961 Contributions from 125 club Bar levy forfeited 2,504 2, , ,311 Total capital and reserves 262, , Shares The market value of the Lloyds Banking Group shares as at 31 October 2014 was 245 ( ). Page 10

12 13 Funds flow statement Surplus on income and expenditure account 18,041 1,245 Surplus on capital fund 30,267 12,803 Depreciation of assets 30,840 30,183 Cash generated from operations 79,148 44,231 Opening bank and cash in hand 193, ,011 Cash generated from operations 79,148 44,231 Purchase of fixed assets (34,227) (378,535) Increase)/decrease instock 641 (2,651) Increase)/decrease indebtors (2,989) 1,789 (increase)/decrease in VATdebtor 2,563 (3,412) Increase/(decrease) in tradecreditors 54,046 3,178 lncrease/(decrease) in course purchase fund (42,705) lncrease/(decrease) inaccruals (7,826) (5,499) Increase in deferred income (368) 44,715 lncrease/(decrease) in sureties for waiting list lncrease/(decrease) in bank loans (8,916) 249,866 Closing balance per bank and cash in hand 276, ,988 Page 11

13 Stirling Golf Club 2014 Gentlemen Prize Winners King James IV Stableford (500th Trophy) Stephen Hogg Victory Cup (Bogey) Tony Petale Victory Cup (Strokeplay) Stuart Alexander Queen Victoria Jubilee Alasdair Maclennan John Begg Trophy Cameron Knox John Duncan Trophy Les Cattigan Tennent Cup (Stableford) Alan Hiddleston Presidents Cup David Morrison Chalmers Cup (Stableford) Stevie Henderson King George Stroke play Graeme Fox King Edward Coronation Robert Wilson King George V1 Malcolm McGregor Jimmy Cooper Trophy Michael Tortolano Medal Final Winners Wednesday Class 1 John E Colquhoun Wednesday Class 2 Hugh Colquhoun Wednesday Class 3 Gerry Doherty Saturday Class 1 David Dryland Saturday Class 2 Ivor Levy Saturday Class 3 Kevin Cave Spring & Autumn Meetings Spring Meeting Scratch Medal & Handicap Prize Fraser Cooper Autumn Meeting Scratch Prize Steven A Duncan Autumn Meeting Handicap Medal Colin Ferguson Infirmary Cup Colin Ferguson K G Patrick Medal Iain Munro Matchplay and Premier Events Nimmo Cup Winner Pete Seymour Nimmo Cup - Runner up Kenny Stewart King George V Trophy - Winner Iain MacFarlane King George V Trophy - Runner - up Hugh Colquhoun Club Foursomes Winners Hugh Lawson & Stewart Gillespie Club Foursomes Runners up Robert Dawson & Barry McIntyre Captain's Prize Winner Scott Monteith Captain's Prize Runnner up Andrew Aitken President s Prize (shared) Iain Munro & Liam Haldane Vice President s Prize (shared) Michael Tortolano & David Dryland 36 Hole Strokeplay Champion Allan Watson 36 Hole Handicap Strokeplay Champion Michael McFarlane Senior Champion David Smith Senior Champion Runner up Bruce Hunter Handicap Champion Michael McFarlane Handicap Champion Runner - up Robert Hiddleston Club Champion Allan Watson Club Champion Runner up Ben Liddell S.G.C Opens Festival Trophy Kevin Brunton Morton Trophy Colin Peebles Other S.G.G.Team (Belhaven) players player of the Year Kenny Stewart County Handicap Match Play Champion Jim McKerchar Page 12

14 Stirling Golf Club 2014 Ladies Prize Winners Club Competitions SLGA Brooch Susan MacLeod IMF Brooch Elaine Allison Golf Foundation Brooch Marion Nicol LGU Breakthrough Brooch Irene Hughes RNLI Competition Shelagh Quinn 18 hole Stablefords ( Tues) Jackie Stevenson 18 Hole Stablefords (Sat) Susan MacLeod 9 hole Stableford Competition Pam Waller Strokeplay Competitions Mary Queen of Scots Anne Rankin Gold Medal Alison Davidson Handicap prize Nicola Robertson Tasker Cup Marion Nicol Handicap prize Margaret Neilson Silver Putter Muriel Young King George V1 Cup Shelagh Quinn Handicap prize Rose Graham Queen Elizabeth Salver Anne Miller Handicap prize Gail McCallum Veterans Trophy Kathleen Murray Wilson Trophy Marion Nicol Victory Cup Carol Leddy Davidson Quaich Aileen Lee Alison Davidson Salver Tricia Chillas Twilight Trophy Kathleen Murray Silver Medal Maureen Noble Bronze Medal Carol Leddy R. McKenzie (Outing) Lorna Donaldson, Phyllis Morrison, Kathleen Murray Matchplay Trophies McKenzie Cup Rose Graham Coronation Bowl Rose Graham King George V Cup Lesley Campbell Palmer Trophy Phyllis Morrison & Tricia Chillas Club Championships Club Champion Alison Davidson Handicap Champion Jacky Farrell Page 13

15 Proposed Annual Subscriptions and Entry Fees for Categories Membership at 31/10/13 Membership at 01/11/14 Subs 2014 Subs 2015 Entry Fee 2015 Honorary Members Ordinary Members Life Members Senior Senior 75+ included above 15 n/a Day Members YP Members n/a *1 *2 Junior Members Country Members International Members Corporate Members 0 0 n/a n/a Clubhouse Members Clubhouse Life / Senior Student Total 1026 (all cats & ages) 1019 *1 Subscriptions for Young Person Members are based on age and a sliding scale discount is applied based on the Ordinary fee % 20 60% 21 50% 22 40% 23 35% 24 30% 25 25% 26 20% 27 10% 28 Ordinary *2 Entry fees for Young Person Members are based on the system of discount set out in the Constitution. Bar/Restaurant Levy Committee propose to leave the Bar / Restaurant levy at 50. Page 14

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