HONG KONG FOOTBALL CLUB

Transcription

1 HONG KONG FOOTBALL CLUB

2 [ CONTENTS ] HKFC ANNUAL REPORT 2014/15 Mission Statement... 2 President s Message... 3 Chairman s Report... 6 Honorary Secretary s Report... 7 Honorary Treasurer s Report... 8 Officers of the HKFC who held office from 1 June May Honorary Vice-Presidents Candidates Nominated for Election Notice of the Annual General Meeting for the Year Community Outreach SUB-COMMITTEE REPORTS Constitutional Affairs Development Membership Sports and Recreation SECTION REPORTS Hockey Lawn Bowls Rugby Soccer Squash FINANCIAL REPORTS Report of the General Committee Independent Auditor s Report Balance Sheet Statement of Comprehensive Income Statement of Changes in Funds and Reserves Statement of Cash Flows Notes to the Financial Statements Operating Budget... 84

3 [ MISSION STATEMENT ] VISION to be recognised as one of the leading sports clubs in the world. MISSION to deliver quality services on the principles of accountability, consistency and transparency. to develop an organisational culture that recognises the importance of staff contribution and commitment. 2 to facilitate the development and participation of recognised sporting activities. VA LUES being accountable to communicate, consult and provide information. living within our means to plan ahead within available resources. developing a culture of service to encourage commitment, integrity, courtesy and responsiveness. managing for performance to set the direction and develop the necessary skills. AIMS to provide the services the membership needs. to improve the quality of club life. to uphold the constitution and bye-laws. to encourage members to play their part in the club.

4 [ PRESIDENT S MESSAGE ] PRESIDENT S MESSAGE Another excellent year for the Club, in all facets of its operation, has once again flown by! On the sporting front all our international tournaments have gone from strength to strength; in the Rugby Tens and Soccer Sevens we really do have two quality tournaments that are on the international map, and the Squash Section has once again come to the fore with its PSA and WSA world-ranking tournaments. On the financial front, I m sure new Honorary Treasurer Alan Morgan will highlight the financial achievements in full, but suffice to say I am delighted that once again we have set new records for Total Revenue and Food and Beverage revenue. On a sad note, last year I reported about David Howell having to stand down as Honorary Treasurer due to ill health. Unfortunately, David s battle against cancer ended in April of this year. To Linda and family I offer sincere condolences from all at the Club. Looking back to things sporting over the past year, later in this Annual Report you will read articles by the Sporting Sections/ DSAs/Societies on the year in question. I am always amazed by the amount of sport we play throughout the year, from the Mini/Junior level all the way through to the Seniors, and I am very grateful for all the hard work that is being put in on a volunteer basis by all concerned. I touched earlier on Food and Beverage but would like to recognise the efforts of this department in keeping us fed and watered throughout the year. It is, perhaps, timely to also mention all the other departments that help to run the Club. Did you know, for example, that we have 50-plus housekeepers who help to keep the Club nice and clean, and we have 300 staff in total? My thanks to all the Management and Staff of the Club for their efforts over the last year. Thanks, too, to our Chairman John Shanahan and to all the other members of the General Committee for their various contributions throughout the year. Just to note that the GC meets on 11 occasion each year and have a varied agenda which includes reports from all of our Standing Sub-committees and our Sporting Sections. In closing, I thank all members of the Standing Sub-committees, Sub-groups, Sections/DSAs/Societies along with the GC and Management and Staff for their efforts in helping to run the Club and in helping to achieve our vision to be recognised as one of the leading sports clubs in the world. Dermot Agnew President 3

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6 KEY MEN (from right): President Dermot Agnew, Chairman John Shanahan, Honorary Treasurer Alan Morgan and Honorary Secretary Mike Wood.

7 [ CHAIRMAN S REPORT ] 6 CHAIR MAN S R EPORT The first bit of good news I have this year is, of course, the renewal of our lease after a long and tedious governmental process. The Honorary Secretary deals with this in more detail in his report. In so far as the Club s finances are concerned, we have had a very successful year, especially with regard to food and beverages the busiest year on record! More details are in the Honorary Treasurer s report on page 8. You will all be aware of the renovations and improvements we have made to various facilities on the Club premises over the last year or so. These included improvements to the Sports Hall, Squash Centre, Fitness Centre, Library and Club Shop, as well as the Infield Changing Rooms, Forsgate Stand Public Toilets, Physio s Room and Attendant s Cabin. As I stated in my letter to all Members earlier in the year, we are now proceeding with plans for a complete refurbishment of the Second Floor of the Clubhouse, including a new Main Kitchen. All the facilities on this floor are looking a little tired and need improving, but there are many issues back of house that need updating, such as the electrical and mechanical systems. We will be presenting the plans to the membership before the end of the year with a view to construction starting in June As I write, part of the Second Floor renovation project the installation of a new chiller system is about to commence with temporary chillers being housed on Tennis Court 3. Attention will then turn to the construction of a new Transformer Room in the carpark adjacent to Wong Nai Chung Road. During the year, we formed a Task Force on Professionalism to look at all our sporting Sections in the face of increased professionalism in a number of sports, especially Soccer and Rugby. The Rugby Section in particular was facing huge challenges in league competition as many of our rivals were using paid professionals in their sides. We have therefore made changes to the Policy Statements on the Employment of Players, Coaches, Members, and so on, which includes changing the rules concerning Fringe Benefits, Sponsorship, Expenses, Honoraria and Subventions. This has been of immediate benefit to the Rugby Section and, we hope, will make them more competitive. With the introduction of a new professional Football League by the Hong Kong Football Association, the Soccer Section will face similar challenges in the future. The General Committee (GC) at its August meeting approved the nominations (from the Rugby Section and Soccer Section) of Craig Wootten and Tony Bratsanos for Life Membership of the Club. Craig has been a Member for over 25 years and during this time has sat each year on the Rugby Tens Committee, 18 years of which has been as Tournament Director. Craig was also Chairman of the Rugby Section from Tony has been Chairman of the Soccer Sevens Committee since the tournament started in 1998, was Chairman of the Soccer Section from and was its GC Representative from In line with the Resolution in the Notice of the Annual General Meeting on page 14 I would ask that you vote in favour of Life Membership for Craig and Tony. Two GC Representatives stand down this year Niccola Russo from the Hockey Section and Damian Babis from the Rugby Section. I thank them for all the time and effort that they gave to the Club whilst serving on the GC. In closing, I must also thank all those Members who volunteer to sit on the many Sporting Committees and ad-hoc Sub-groups that allow our Club to function in the highly successful way that it does. I must particularly thank the Members of the GC and the Standing Sub-committees for their invaluable contributions to Club life and the sage advice that they offer to me. A big thank you must also go to our General Manager, Mark Pawley, his Senior Management team and all the Staff for making the Club the truly first-class sporting club that it is and the tremendous amount of hard work they all put in for the benefit of the Membership. John J Shanahan Chairman

8 [ HONORARY SECRETARY S REPORT ] HONORARY SECRETARY S R EPORT I am very pleased to submit to Members my third report as Honorary Secretary. The Club continues with its success, maintaining a stable and growing membership catering to a broad and diverse demographic background. We have long-superseded the 3,000 mark of primary Members, which belies the fact that in total we are catering for some 9,500-plus people when considering spouses/partners and children. On this latter note, I would like to again remind all Members of the need to register children and obtain a membership card for them when they reach the age of 11 years, which enables the Club to plan ahead. Although Members will by now be aware, it is nonetheless pleasing to be able to formally report that we have been successful in obtaining approval for the renewal of our lease, which will run for a 15 year term from 26 December 2011 until 25 December It has taken a long time to negotiate with relevant parties on this matter and although we are disappointed that the lease renewal is backdated, it does at least now give us certainty of tenure and the ability to move ahead with the various refurbishment/renovation projects that are planned. A key element of the renewal is the Club opening up hours to specified Outside Bodies (as defined by the Home Affairs Bureau). As a Club we have always provided extensive usage of our facilities to outside parties to a degree which far exceeds the regulatory minimum requirements. Aside from meeting these regulatory requirements, the Club therefore continues to be an integral part of the fabric of sporting life to the wider community, providing access to our excellent facilities for the promotion of sport in Hong Kong. As regards refurbishment, with the Club premises now approaching 20 years of age there are some fairly significant improvements which have become essential if we are to continue to provide to our Members a high degree of service and facilities. Although many ad hoc improvements have been made, with planning for the more comprehensive refurbishments substantially completed, we are now able to shift towards the more detailed planning to execute these plans. This is reported on within the Development Subcommittee Report. Although people will be aware that there are plans for refurbishment it is apparent that demand for membership remains exceptionally strong and Corporate Subscriberships continue to trade in the market at record highs. This reflects the very high reputation that our Club commands along with recognition of the wonderful facilities that are available. Once again, with so many Members and their guests passing through, I would urge all Members to acquaint themselves with, and observe, the Bye-laws and rules covering behaviour while using the Club. This ensures continued enjoyment by all of our Members. The Club s website contains copies of these rules along with a copy of the Articles and the Policy Statements as well as a lot of other very useful information. On this note, a number of areas relating to the constitutional documents of the Club continue to be reviewed with the aim to improve efficiency and enable our Management to better serve the Members. In addition it is anticipated that a comprehensive review of these constitutional documents will take place, better to reflect changing times and to bring together various ad hoc revisions. I would once again like to remind Members that the Club has a strict policy of zero tolerance on Staff abuse. In the past 12 months, regretfully there have been a few more instances of this, which have been promptly handled by the 7

9 [ HONORARY TREASURER S REPORT ] 8 Disciplinary Standing Sub-committee (DSSC) and by various Disciplinary Panels. Respect for our Staff, who perform an excellent job in a very busy environment, is a matter which is taken very seriously. I mentioned in my last report that the DSSC is currently looking at the existing Articles and Bye-laws insofar as they concern and/or relate to discipline and conduct, with the objective of ensuring best practice and regulatory compliance. This is quite a big body of work which is well under way, and it is hoped it will be completed very soon. Finally, and on behalf of all Members I would like to thank the General Manager, Mark Pawley, and all the Management and Staff for their continued focus and dedication in making the Club such an enjoyable place to spend time and relax. Thanks are also due to my fellow General Committee members and Sub-committee members for their support and guidance on various matters surrounding the management of the Club. Mike Wood Honorary Secretary HONORARY TREASURER S R EPORT I am pleased to report that the Club made a surplus of HK$19.1 million for the year ended 31 May This is slightly lower than the prior year but well above the budgeted surplus of HK$13.2 million. The Club s financial statements and accompanying notes are included on pages 62 to 84 of this Annual Report. The purpose of the Honorary Treasurer s report is to draw highlights to the attention of members. Revenue increased by 7% to HK$177.4 million, principally due to increases in sales of food and beverage as well as increased membership fees and subscriptions. As the Chairman has mentioned in his report, it was a record year for the Club s Food and Beverage Department. Gross profit from food and beverage of HK$60.3 million was up 10% from the prior year with the number of covers increasing by 3%. Fees and subscriptions of HK$54.0 million were up 4% from the prior year reflecting an increase in monthly fees of approximately 4% on 1 January 2015 as well as an increase of 49 Members from the prior year. Expenses (excluding depreciation) increased by 8% to HK$130.4 million. The most significant increase was in employee benefit expenses, which increased by 10% to HK$87.3 million, attributable to a general salary increment of 5.5% in June of last year and an increase of staff headcount by around 5%. The Club s operating surplus before depreciation of HK$6.8 million was down from HK$7.5 million in the prior year but was greater than the budgeted surplus of HK$3.1 million. Depreciation expenses of HK$7.5 million was significantly lower than the prior year expense of HK$12.4 million. A new long lease was signed during the year with the Hong

10 [ HONORARY TREASURER S REPORT ] CLUB REVENUE FOR THE PAST FIVE YEARS 9 Kong Government for the land on which the Club operates. This allowed the Club to revert to applying depreciation rates which better reflect the estimated useful lives of assets and, consequently, to a reduction in depreciation charges. It also removed the uncertainty which had to be noted in recent year s reports with regard to whether, or not, it was appropriate to prepare the Club s financial statements on a going concern basis. Significant capital expenditure was incurred during the year in respect of the completion of phases 2 and 3 of the Sports Hall renovation (HK$16 million) and the refurbishment of the Club Shop (HK$1.2 million). The operating deficit for the year, after depreciation charges, was therefore reduced to HK$695,952 compared with a deficit of HK$4.8 million in the prior year and a budgeted deficit of HK$7.1 million.

11 [ HONORARY TREASURER S REPORT ] FOOD & BEVERAGE SALES FOR THE PAST FIVE YEARS 10 The other principal components of the Club s surplus for the year were unrealised investment gains of HK$9.4 million, entrance fees of HK$8 million and transfer fees in respect of Corporate Subscribership s of HK$3.4 million. The Finance Sub-committee (FSC) is responsible for monitoring the investment portfolio of the Club, which was managed throughout the year by Schroder Investment Management (Hong Kong) Limited. The performance of the investment portfolio and the investment manager was considered to be satisfactory. I thank my fellow FSC members for their efforts in this respect including the time taken to meet twice during the year with the investment managers. Looking forward to next year, the Club s budget for the year is set out on page 84 of this report for the information of Members. The General Committee has budgeted for

12 [ HONORARY TREASURER S REPORT ] an operating deficit after depreciation charges of HK$5.8 million and an overall surplus of HK$16.6 million. Key assumptions include: Another increase in food and beverage revenue, which management believe can be achieved by stimulating consumption through more frequent changes to food and wine menus and more regular specialty wine promotions. Increases in monthly subscriptions from January 2016 of HK$50 per month for Ordinary Members and HK$20 per month for Senior, Junior and Sports Debenture Associate Members. Increase in operating expenses of 4%, mainly driven by an average salary increment of 5% in June 2015, in line with the Hong Kong hospitality industry average. Increase in entrance fees of HK$7.8 million based on an expectation of 146 new Sports Preferred and Temporary Members and 14 new Social Members under the Accelerated Social Membership category. Transfer fees for Corporate Subscriberships are budgeted at HK$1.6 million, representing four transfers. Net investment income of HK$13 million is included in the budget, reflecting the target of Hong Kong CPI +3% per annum given to the investment manager. Clearly, the actual return achieved will be driven by market conditions as well as the performance of the investment manager. At the time of writing, there has been considerable volatility in markets in recent months which has negatively affected the value of the Club s investment portfolio, With regard to capital expenditure, the Club has budgeted HK$41 million for redevelopment projects as well as more routine replacement expenditures totalling HK$13.6 million. The principal redevelopment projects in 2015/16 are expected to be phase one of the transformer and chiller installation works (HK$21 million) and the renovation of the Infield Changing Rooms (HK$20 million). The General Committee recently discussed the timing of commencement of the Master Plan renovation project, which is enabled by the signing of the lease extension to The current proposal being considered by the General Committee is that redevelopment of the Second Floor will commence in June 2016 following the 2016 Rugby Tens and Soccer Sevens. It is anticipated that the redevelopment will be funded by selling new Corporate Subscriberships and/or drawing down part of the investment portfolio. A detailed funding plan is in the process of being developed at the time of writing. Finally, as my first year as Honorary Treasurer comes to a close, I take this opportunity to thank the Management and Staff of the Club, particularly Ricky Chan, Director of Finance, and his team, for their advice, assistance and hard work throughout the year. Alan Morgan Honorary Treasurer 11

13 [ OFFICERS OF THE HKFC ] OFFICERS OF THE HONG KONG FOOTBALL CLUB WHO HELD OFFICE DURING THE PERIOD 1 JUNE MAY Dermot Agnew... President Nicholas Hunsworth... Vice-President Robert Lawson... Vice-President Iain Valentine... Vice-President Fook Aun Chew... Vice-President John Shanahan... Chairman Mike Wood... Honorary Secretary David Howell... Honorary Treasurer (June until November 2014) Alan Morgan... Honorary Treasurer (from November 2014) David Reeves... Constitutional Affairs (June until November 2014) Jeff Lane... Constitutional Affairs (from November 2014) James Niehorster... Discipline Maurice O Brien... Membership Neil Roberts... Development Philip Woolf... Sports & Recreation Niccola Russo... Hockey Officer Nicholas Grimshaw... Lawn Bowls Officer (June until November 2014) Mike Worth... Lawn Bowls Officer (from November 2014) Damian Babis... Rugby Officer Martyn Russell... Soccer Officer (June until November 2014) Neil Jensen... Soccer Officer (from November 2014) Adam Wilson... Squash Officer HONORARY VICE-PRESIDENTS D K Newbigging T J Bedford J G Cartner J A B Duncan R Gaff A D A G Mosley A A Lister Sir W Purves, CBE, DSO, JP K J Marshall, MBE, JP B C Penman M Moir D Lamont MANAGEMENT Mark Pawley General Manager AUDITORS PricewaterhouseCoopers BANKERS The Hong Kong and Shanghai Banking Corporation Ltd

14 [ CANDIDATES NOMINATED FOR ELECTION ] CANDIDATES NOMINATED FOR ELECTION AS OFFICERS OF THE CLUB FOR THE YEAR 2015/16 office candidate proposed by seconded by Vice-Presidents Fook Aun Chew Dermot Agnew John Shanahan Nicholas Hunsworth Robert Lawson Iain Valentine Robert Lawson Nicholas Hunsworth Iain Valentine Iain Valentine Neil Roberts Fook Aun Chew General Officers (five vacancies to be filled) Jeff Lane John Shanahan Fook Aun Chew James Niehorster John Shanahan Fook Aun Chew Maurice O Brien Fook Aun Chew Richard Neish Neil Roberts Mike Wood John Shanahan Philip Woolf Fook Aun Chew John Shanahan section nominees name proposed by Hockey Charles Poulton Hockey Section Lawn Bowls Mike Worth Lawn Bowls Section Rugby Ian Petersen Rugby Section Soccer Neil Jensen Soccer Section Squash Adam Wilson Squash Section 13

15 [ NOTICE OF THE AGM ] NOTICE OF THE ANNUAL GENERAL MEETING FOR THE YEAR 2015 Notice is hereby given that the Annual General Meeting of the Hong Kong Football Club for the year 2015 will be held at the Clubhouse, 3 Sports Road, Happy Valley, Hong Kong at 19:00 on Thursday, 5 November 2015 for the purpose of conducting the following business: 1. To elect Officers of the Club for the year 2015/16 (a list of the candidates nominated for election is set out on page 13 of the Annual Report) To consider and, if thought fit, adopt the General Committee s Report and the Accounts of the Club for the year ended 31 May To re-elect PricewaterhouseCoopers as the Auditors of the Club at a fee to be fixed by the General Committee. 4. As special business: To consider and, if thought fit, pass the following as an Ordinary Resolution: That the Monthly Subscription for Full Members, Corporate Members (including Nominees) and Associate Members be raised from HONG KONG DOLLARS ONE THOUSAND FOUR HUNDRED AND FIFTY (HK$1,450) to HONG KONG DOLLARS ONE THOUSAND FIVE HUNDRED (HK$1,500) from January 2016 and that Monthly Subscription for Sports Debenture Associates and Senior Junior Associates (between the ages of 21 and 28) be raised from HONG KONG DOLLARS FIVE HUNDRED EIGHTY(HK$580) to HONG KONG DOLLARS SIX HUNDRED (HK$600).

16 [ NOTICE OF THE AGM ] NOTICE OF THE ANNUAL GENERAL MEETING FOR THE YEAR To consider (upon the recommendation of the General Committee, in recognition of valuable service rendered to the Club) and, if thought fit, to pass the following Ordinary Resolutions: Craig Wootten be elected as a Life Member of the Club Tony Bratsanos be elected as a Life Member of the Club 6. Any other business. Mike Wood Honorary Secretary By Order of the General Committee Hong Kong, 6 October 2015 Notes: 1. A Full Member entitled to attend and vote at the meeting is entitled to appoint a Proxy Holder to attend and vote in his or her stead. A Proxy Holder must be a Member of the Club. A Corporate Member entitled to vote at the meeting is entitled to appoint a Corporate Representative to attend and vote in respect of all the Corporate Subscriptions held by such Corporate Member The instrument appointing a Proxy Holder, or Corporate Representative, must be returned to the offices of the Club s Auditors, who have been appointed as scrutineers, by mail, delivery or by facsimile transmission, or you can place the completed form into the Drop Box provided at the G/F lobby of the Club. The Form of Appointment of Proxy, or Corporate Representative, is to be received by the scrutineers or put in the Drop Box not less than 48 hours before the time for holding the meeting. 3. Full Members and Corporate Members entitled to vote at the meeting may vote in the election of Officers by completing the Ballot Paper accompanying this Notice and returning it to the offices of the Club s Auditors, who have been appointed as scrutineers, by mail, delivery or by facsimile transmission, or you can place the completed form into the Drop Box provided at the G/F lobby of the Club. The Ballot Paper is to be received by the scrutineers or put in the Drop Box not less than 72 hours before the time of holding the meeting.

17 PHOTOS FROM GFI HKFC TENS 2015 & HKFC CITIBANK SOCCER SEVENS 2015 BY POWER OF SPORT IMAGES

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19 [ COMMUNITY OUTREACH ] 18 The Club s vision, as stated in our Articles of Association, is to be recognised as one of the leading sports clubs in the world and our mission includes facilitating the development and participation of recognised sporting activities. This commitment to the betterment of sport extends to the general community, regardless of gender, race and nationality, as well as to our 3,250 plus Members and their families. Major activities designed to encourage sports development, available to both Members and non-members, include Mini and Youth Soccer, Mini and Youth Rugby, Mini and Youth Hockey, Junior Squash and Junior and Youth Tennis Groups. Likewise, a plethora of gymnastics, dance, aerobics, aquatics and martial arts programmes and classes are offered. Additionally, the YMCA Soccer/Adventure Camps are popular with both Members and non- Members during school holidays, and we also now host Auskick sessions for both Juniors and Seniors in the summer. At the same time we have forged links with Port Adelaide Football Club in Australia with a view to helping them promote the sport of Australian Rules Football in Hong Kong as well as South China. The facilities are also used for international fixtures, training, seminars or functions by many National Sports Associations (NSAs) such as the Hong Kong Football Association, Hong Kong Rugby Union, Hong Kong Hockey Association, Hong Kong Lawn Bowls Association, Hong Kong Squash, Hong Kong Netball Association, Hong Kong Tennis Association and Hong Kong Golf Association, as well as the Yau Yee Football League and others. Additionally, our Club is virtually the only sports club in Hong Kong to host and manage international sporting events on a regular basis which, we believe, with local participation and spectators, helps to foster and advance a greater sporting culture within the local community. In this respect, we have organised and managed the GFI HKFC Tens, HKFC Citibank Soccer Sevens, HKFC Hockey 6s and HKFC International Squash 3s. We also organised and managed a Professional Squash Association world-ranking tournament, a Women s Squash Association world-ranking tournament, and hosted an Asia Rugby Championship Test match and the International Tiger Bowls tournament. The Club also makes its sports facilities available to many youth groups and community organisations on a gratis or concessionary basis. Coaching and a venue are provided free to the Hong Kong Vocational Centre for Children with Special Needs and a Soccer Programme for Children with Special Needs. We provide a number of sporting and recreational facilities for use by the Springboard Project and the Nesbitt Centre, and we also allow use to children (with their teachers and supervisors) from the many educational establishments around Hong Kong. In addition, we hold an annual lunch for residents of the China Coast Community. In terms of the lease renewal, the Club is required to allow use of certain facilities by NSAs and outside bodies such as educational establishments. In this respect the Club is averaging in season, each month, well over one thousand hours of actual use by such entities. Our community outreach activities naturally revolve around sport, but we also make charitable donations which come from the Club and the Sections/DSAs/Societies, as well as groups of Members. Over the past year, the Club, in total, has made charitable donations of more than HK$832,000.

20 [ SUB-COMMITTEE REPORTS ] SUB-COMMITTEE REPORTS 19

21 [ SUB-COMMITTEE REPORTS ] 20 CONSTITUTIONAL AFFAIRS SUB-COMMITTEE (CASC) The CASC has continued to review, revise and update where required the Club Bye-laws and Policy Statements at the direction of the General Committee, and as needs arose. A substantive review of the Club s Bye-laws and Policy Statements has been recommended to reflect recent changes in the law, and to clarify the scope of Policy Statements and Bye-laws. This task is to be completed with the assistance of outside counsel, and it is anticipated that this exercise will be completed before year end. In the course of the year, CASC has met and has spent time reviewing and consolidating the Bye-laws of the Sections, DSAs and societies with a view to their conforming to common terms. This exercise is continuing and again, it is hoped that this will be completed before year end. CASC offers its thanks to Niccola Russo, who recently left Hong Kong. My thanks also to Nick Hunsworth, Bobby Lawson, Colin Wong and Mark Pawley for their considerable help and guidance during the year. Jeff Lane Chairman, CASC DEVELOPMENT SUB-COMMITTEE (DSC) Members will recall from last year s report that the phased renovation of the Sports Hall was under way. I am pleased to report that the remaining phases of the work were completed in 2014/15, with minimal disruption to Members. The Club s renovated Sports Hall is a first-class sports facility but can also be used as a venue for larger Club functions and social events. It is one of the best multi-purpose spaces of its kind in Hong Kong. The Club Shop also underwent a makeover in 2014/15 and the new layout and bright, modern design has been well received. At the time of writing, the renovation of the infield changing rooms and the ancillary facilities at the infield corridor are in progress. The works comprise the complete renovation of the women s, men s and team changing rooms and the infield corridor, the creation of a new centralised attendants cabin, renovation of the infield servery, a new physiotherapy room, referees rooms and new section storage areas. The works will be carried out in two phases, with the first phase scheduled to be completed in early October 2015 and the second phase by shortly after the date of the AGM in mid- November Upon completion members will be able to enjoy the benefits of the renovated facilities, but it will also enable the Club to host multi-team events more effectively by virtue of the more efficient and flexible layouts. As regards the Redevelopment Masterplan the design and planning of the first phase is in progress. The first phase comprises the necessary construction of a new transformer room and the replacement of the chillers on the roof of the Clubhouse which, after approximately 20 years of continuous operation, are no longer able to meet the Club s needs. It also includes the complete renovation of the second floor facilities including the essential renovation and upgrading of the main kitchen. A briefing will be given to members in late 2015 so that they can understand what changes and improvements are being planned. Suffice to say at this stage that all of the existing facilities on the second floor will be retained, albeit with some layout and location adjustments. Construction works in connection with the transformer room and the chillers will commence in fourth-quarter 2015 and in the June 2016 for the second floor. Works of this nature and scale will inevitably require the closure of certain Club facilities to allow the work to be completed in the shortest possible time, but every effort will be made to keep the disruption to a minimum. In addition to the closure of the second floor during the renovation, Tennis Court 3 will be closed for a period of about 15 months, while new chillers are located there temporarily

22 [ SUB-COMMITTEE REPORTS ] to allow the existing chillers for the Club s airconditioning system to be removed and replaced, thus ensuring the continuous provision of airconditioning. Thereafter, we intend to resurface and replace the waterproofing on all the tennis courts. Revised plumbing and drainage layouts in the second floor main kitchen will require the temporary closure of the indoor bowls green during the second half of 2016 to facilitate work in the ceiling above the green. While intensive efforts are being made to minimise the impact of the closure, time will also be required to replace the ceiling and lighting on the green and to install a new carpet. As the proposals for the second floor include an extension to the Coffee Shop, it is likely that the swimming pool will also be closed for a period of time. Further details will be provided to members during the briefing in late From this brief summary of the work of DSC, I trust members will recognise that DSC continues to be guided by the Club s Vision, To be recognised as one of the leading sports clubs in the world. Furthermore, it strives to meet two of the Club aims, namely: To improve the quality of Club life and To provide the services the Membership needs. Finally I would like to thank my fellow DSC members Kenneth Ng, Alf Yeung and Martin King for their hard work and sound advice during this busy year. I would also like to thank general manager Mark Pawley and facilities manager Evan Tao for their invaluable support and assistance in the planning and implementing the various projects. Neil Roberts Chairman, DSC MEMBERSHIP SUB-COMMITTEE (MSC) As of June 2015 there were 3,300 Members (an increase of 44 over the corresponding period last year) plus 2,700 spouses/partners and around 3,600 children (not all children are registered with the Club so this figure is very likely higher). This translates to more than 9,500 potential users of the Club. The GC considers that this number of Members is within the capacity of the Club but will regularly review the membership numbers and types of membership categories to ensure a healthy balance is maintained. There were 132 newly joined Sports Preferred Members, of whom 67 were juniors under 28 years of age. There are 547 Sports Preferred Members who are under a four year commitment period within their respective Sections/Designated Sports Associations (DSAs)/Societies. 19 Sports Debentures were issued during the year and 19 Accelerated Social Members joined (14 children of Full Members and five ex-corporate Nominees). 67 Temporary Preferred Members converted to full membership, with a further 33 Temporary Preferred Members confirmed as Junior Associates. 169 Members resigned and 114 Members took out Absent Membership. A further 42 Members returned to Hong Kong and reactivated their memberships on a full-time basis. Over 800 Absent Members visited the Club and temporarily reactivated their memberships during the period June 2014 to end May I would like to advise all Members that if they ever leave Hong Kong they should take out Absent Membership as clearly it is heavily used by many Full Members when they return for a visit. An issue which MSC has faced is that people joining the Club through the Accelerated Social Membership process are frequently in conflict with the Club s Mission Statement: To be recognised as one of the leading Sport s Club s in the world. MSC will be looking to implement new procedures to ensure this conflict is addressed. Another issue MSC will be addressing is the notion some people have that SPAMs only need to play their respective sport for four years until they are confirmed as Full Members. After completion of their commitment period SPAMs are expected to continue playing and supporting their respective Section/DSA/Society. 21

23 [ SUB-COMMITTEE REPORTS ] 22 As always, MSC relies upon the Sections, DSAs and Societies to ensure that they only put forward Sports Preferred Members who are genuinely able to contribute to the Sections/ DSA/Societies and the Club. As we are primarily a sporting club, we need to ensure that our competitive teams have the necessary talent to represent the Club in the various leagues and competitions in which they participate. MSC has an important role to play in vetting applications for membership in order to ensure that the number of Members is commensurate with the facilities that the Club has to offer and that we avoid the danger of unacceptable overuse of these facilities, be they sporting or social. I would sincerely like to thank the members of the MSC consisting of Alistair Macleod, Bob Lloyd, Russell Lousich, Fook Aun Chew, Neil Jensen, Richard Neish (from June 2015), Mark Pawley and Kerry Ogle for their advice and assistance throughout the year. With the increase in membership levels, a huge commitment was also made by a pool of senior Members who regularly volunteer their time for interview panels where Temporary Members seeking conversion to Full Membership and where prospective Accelerated Social Members are first seen. I am also grateful to all the Membership Officers in the various Sections/ DSA/Societies as well as the members of the Sports and Recreation Sub-committee for their work in monitoring Members under commitment; an important but not always acknowledged job that requires considerable time and effort. Lastly, and by no means least, I am, as always, especially indebted to the Membership Services Manager Kerry Ogle and her assistant Rebecca Chiu, for all their hard work and expertise where membership is concerned. Maurice O Brien Chairman, MSC SPORTS AND RECREATION SUB-COMMITTEE (S&RSC) As my third year as Chairman of the S&RSC draws to a close, I would first like to thank Bobby Lawson, Iain Valentine, Niccola Russo, Nick Grimshaw, Adam Wilson, Damian Babis and Tony Sealy the executive members of the S&RSC Committee for their hard work and support. I would also like to thank the committees of the Netball DSA, Tennis Society, Golf Society, Badminton Society, Swimming and Triathlon Society, and Bowling Interest Group for their assistance to the S&RSC, and dedication to developing their sporting groups. I am pleased that the S&RSC has made significant headway during the past year, and having listened to each of the sporting groups and understood their ambitions the Executive has focused its efforts on finding ways to help each one to achieve its specific goals, and to create a platform for further development in the coming years. Core projects have included: Meeting the sporting groups, reviewing their current strategies and agreeing key development issues; Agreeing wording of new Bye-laws with all the sporting groups (based on a standard template) with a view to the new wordings of each group being adopted at their respective Annual General Meetings; Continuing to focus on ways that the S&RSC can assist each sporting group with its development, and associated activities to support: a) Sponsorships and other forms of funding b) Improvements to sporting facilities c) Raising the profile of each group within the Club, the local community and regionally (including through hosting more competitions and tournaments) d) Bringing new sporting talent to HKFC e) Expanding youth programmes

24 [ SUB-COMMITTEE REPORTS ] As you will see from the individual reports that follow from each of the sporting groups, there have been some significant achievements throughout the year, and the committees and members of each of them should be lauded for their efforts and congratulated for their successes. Philip Woolf Chairman, S&RSC netball designated sports association (dsa) HKNA League The 2014/15 season was once again a very successful one for the Netball DSA with the top team, HKFC Club, winning the Division 1 title for the second year running. The Club entered six teams in the HKNA League, comprising four competitive training teams and two competitive social teams. This season was unique for the DSA with four of our junior players Audrey Chew, Nicola-Anna Rutkowski, Aliya Tupper and Lauren Laroche moving up to the senior league. The DSA is aiming to enter a full junior side in the senior competition in the 2015/16 season. The DSA coaching team was bolstered this year by the addition of the experienced and highly qualified Veronica Arnold. Joining Veronica in coaching the DSA s senior section this season were Karin Looram, Pauline O Kane and Jenny Drew. Several of our coaches took part in Lisa Beehag s coaching course during the Tri-Nations Tournament. Lisa is an accredited high-performance coach who has played for and coached the Australian national team at home and abroad. She recently coached the NSW Swifts and is a Netball NSW Hall of Fame inductee. With the hard work of all the players and coaches and support staff, all HKFC teams made it through to the semi-finals of the HKNA League. Results Division 1: HKFC Club 1st HKFC Typhoons 5th Division 2: HKFC Whirlwinds 3rd HKFC Monsoons 2nd Division 3: HKFC Tornadoes 3rd Division 5: HKFC Cyclones 2nd Hong Kong and Representative Netball The HKFC currently has no international representation. Previously HKFC had several players within the Hong Kong squad, but leading up to the Tri-Nations Tournament, run by the HKNA in January 2015, several players decided not to continue playing and another player pulled out in protest at the management of the national side. HKFC strongly supports the players who chose not to continue representing Hong Kong, and the DSA looks forward to future representative players coming from the Club. The HKFC Club team were invited to play against the current Singapore national squad in May. Singapore were only two months out from their World Championship competition so HKFC played them at their strongest. This opportunity was not only huge, it was a unique chance for the team to gain valuable international experience on the tour and, needless to say, they have been invited back. Juniors The junior members train on Wednesday night and play in the LCSD JNL (Junior Netball League), which is held on Saturdays and Sundays throughout the autumn and spring terms. The current coaching team for the junior section consists of Karin Looram, Elise Daly, Veronica Arnold, Melissa Atkins, Vanessa Cuvelier and Pauline O Kane. JNL 2014/15 results Autumn 2014: HKFC Constellations, HKFC Shooting Stars and HKFC Comets all took 1st in their respective divisions Spring 2015: HKFC Constellations and HKFC Meteors took 1st in their respective divisions 23

25 [ SUB-COMMITTEE REPORTS ] Development Squads and Representative tennis society 24 LCSD Hong Kong Regional Netball 16s Academy 2014 The following four HKFC junior players were selected to train in the LCSD Hong Kong Regional 16s Academy during September-October 2014: HK Island squad: Anais Bouteyre, Anson Chan and Imogen Shute Kowloon squad: Nicole Tsung Imogen was selected for the touring squad with two teams going to Thailand 30 November to 4 December 2014 to compete in a tournament featuring Thai and Sri Lankan teams. LCSD Hong Kong Regional Netball 14s Academy 2015 The following nine HKFC junior netball players were selected to train in the LCSD Hong Kong Regional 14s Academy during March-May 2015: Nellie Shute, Georgia Prebble, Andrea Chan, Caitlin Donovan, Millie Mayo, Kodi Tupper, Rachel Stevenson, Millie Phipps and Lara Carolan. Moving Forward The Netball DSA is constantly evolving and progressing every season. It is through the hard work of the committee that the DSA is able to implement ideas and goals for the future, and the new committee will no doubt do a great job of executing the following goals for next season: 1. Visits by expert coaches 2. Employ/appoint administration assistant for juniors (seniors) 3. Continue community hours 4. Continue pre-season brainstorming session 5. Continue to expand communications and publicity through our website and Facebook pages 6. Run in-house umpire training courses to raise the number of qualified umpires. Karin Looram Chairwoman, Netball DSA The Tennis Society has enjoyed another exceptionally busy year, both on and off the court. League Tennis The Society has teams competing in the Hong Kong Tennis Association (HKTA) Summer, Winter and Mixed Leagues for adults as well as three teams in the Junior league. Ladies teams also competed in the Hong Kong Ladies Tennis League (HKLTL), a day competition that is played in the spring and autumn. Club teams have achieved notable success over the past year three of the four men s teams made it to the play-offs, with one gaining promotion, and our ladies B team were unbeaten leading to their promotion to the A division. It s been a wonderful year for the ladies evening league. Our ladies A team were crowned champions in the summer league of 2014 and promoted to the A+ league. The team stood in the middle of the winter league after their first season competing in A+, and matched the feat in the summer season which ended in late June My thanks to our new Sports Preferred Member, Annabel, and the hard work put in by all of the A+ ladies team members. We are proud to have a team who are representing HKFC and competing at the premier level of Hong Kong tennis. Our ladies B team were champions of the winter league of 2014 after playing in B for several years. They are now playing in the A league with the intense competition of 18 other teams divided into two draws. At the moment, our A team has secured enough wins to stay in A next season. In the HKTA league, the A+ men s team, captained by Simon Cheung, managed to remain in the division, and this year with the addition of an ex-davis Cup player and former top Hong Kong junior they have again secured their position. No mean feat when you consider most of the opponents are full-time tennis coaches. The B League men s team, captained by Greg

26 [ SUB-COMMITTEE REPORTS ] Brutus and bolstered by several new Sports Preferred Members, won all their matches in the winter league to make the play-off semi-final but narrowly lost to a very strong Club de Recreio outfit. In this year s summer league they once again came out top of their division and capped a perfect 10-0 season by winning the play-offs in June, resulting in their promotion to the A Division for the upcoming winter league. The Men s C team also won all their matches in the winter league and their semi-final, but were beaten in the final by a strong CCC team, though they still managed to gain promotion to B Division. The team consists of several of the same squad members who played in the D Division three years previously, so two promotions in three years is an admirable achievement. This summer league with only one match to play the team is in second place in their division, so are more than able to hold their own. The Men s D team, captained by Jonathan Quach, also made the play-offs in the winter league but narrowly lost to USRC in their semifinal, while in the summer league they once again made it to the play-offs after finishing top of their division. Unfortunately, they were defeated by a very strong SCAA team in the semis. A Club team also managed to finish runnersup in the mixed league competition for Men s D and ladies B earlier this year, winning eight of 10 matches but losing out to KCC. ATA HKFC Juniors Junior coaching programme: Australasian Tennis Aces (ATA) continues to deliver its popular Junior Tennis programme to more than 200 students each week across ages from tiny tots (three-year-olds) to junior league players (under-18). Further to that we have very popular holiday camps run during each ESF school term holidays, offering a full year-round programme for the juniors. HKTA Junior League: This year we introduced for the first time a Junior D league team to represent the Club and give valuable match time to our ever-growing pool of younger players. We now have three junior league teams competing on Friday evenings for the club: B League (U18), C League (U14), D League (U12). Results of the 2014/15 winter league: B League (U18) finished sixth out of 12 teams C League (U14) finished ninth out of nine Results of the 2015 spring league: B League (U18) finished eighth out of 14 C League (U14) finished sixth out eight D League (U12) finished eighth out of 11 (in their first season) Prince challenge: 2014/15 saw HKFC compete in the Junior Inter-Club Prince Challenge played against all the other big premier clubs in Hong Kong AMC, LRC, HKJC, DB and AC. Overall this year we placed fifth in the U14s and fourth in the U12s. Junior world tour: In the junior league off-season, to give our youngsters valuable match practice, we have run our junior world tour series a team-based singles and doubles format competition which is run over four weeks on Friday evenings. These world tour events are great stepping stones for our younger players who are preparing for league matches. HKFC Mini-Tennis Competitions: With the growing number of younger players coming through our tiny tots and little/big hitter and development squad programmes, we have run a number of mini-tennis competitions at the Club and invited HKFC players to join other ATA competitions, including Red (seven-and-under), Orange (8-9 years) and Green (10-and-up) events. These competitions are great fun for the players and a valuable learning experience, and parents can see how their child is progressing. Juniors supporting adult league teams: A number of our junior B league players now play in the adult night league teams, which is completing the junior pathway at the HKFC. The transition of our better juniors is helping to support and strengthen the adult squads in both the men s and ladies evening leagues. 25

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29 [ SUB-COMMITTEE REPORTS ] 28 HKFC junior championships: This year we ran an open and closed division to cater for the ever-growing number of competing juniors, especially the younger players. Several of our junior open boys played in the men s open and closed singles and doubles, winning matches against adult opponents. Plans for the coming year Maintain and grow the junior programme Build on the growing tiny tots programme Continue to improve and guide the juniors to strengthen our league teams, get better results and develop even more players to transition up into the adult teams Enter a 10-and-under team to represent HKFC in the 2016 Prince Challenge Stage regular mini-tennis Red, Orange and Green competitions at the Club Social Tennis Competitions As in previous years, social tennis competitions were organised to celebrate the four Grand Slam tournaments the Australian Open, French Open, Wimbledon and US Open. A big thanks to Toby and his team at ATA for organising and running these events. A new format called Fast 4 Tennis was introduced this year to allow more and quicker matches. It is a best of four games and no-advantage scoring. The players were also split into social or serious players to ensure more even contests. Both changes were warmly accepted and on average we had people attend each event. The fourth annual Tennis Society Party was held in early November in the Restaurant. The theme this year was Bright Colours/Hawaiian and the party was well supported by Tennis Society members and friends dressed in their finest outfits. We were treated to a fabulous three-course meal and five hours of free-flowing alcohol, plus two traditional Hawaiian dancers who entertained us and provided much-needed lessons for some of the men. However, it was a struggle this year to get sufficient numbers there were about 80 attendees so I encourage Tennis Society members to get behind this event. A big thanks to Grace from ATA for all your hard work on this event. For the second year running, Tennis Society Committee member Gilles Bonnier organised a Tennis League Ladder for league and non-league players. This was held every Tuesday night for eight weeks on two courts at the HKFC and has proved a very successful initiative to bridge the gap between the winter and summer leagues. I would like to think it has also contributed to the success of our league teams over the past two years. Big thanks to Gilles for organising and I hope it continues with members support. Throughout February and March, HKFC Members battled it out on the courts to determine who would be Club champions in a mixture of events (singles, doubles and mixed doubles), across both senior and junior divisions. It was especially pleasing to see a good turn-out in the juniors section, with some eye catching performances that bode well for the future of tennis at the HKFC. Major winners were: Andrew Town defeated Joe Vasoontara in the open singles Joe Vasoontara and Henry Lai defeated Andrew Town and Simon Cheung in the open doubles Tanya Masters defeated Aparna Kanthan in ladies open singles Jil Leong and Sami Chan defeated Rachel Loosemore and Tanya Masters in the open ladies doubles Juniors section: Tim Gauntlett defeated Ethan Tsea in the junior open singles Tim Gauntlett and Sam Gauntlett defeated Rafe Purdie and Dan Healy in the doubles The Tennis Society committee selected the Christina Noble Children s Foundation (CNCF) as its chosen charity for 2015/16. CNCF is an international charity that has been operating for 25 years and to date has helped over 750,000 underprivileged and at-risk children in Vietnam

30 [ SUB-COMMITTEE REPORTS ] and Mongolia. On 2 May, 24 Society members took part in the Charity Cup social competition to raise money for this worthy cause, raising nearly $17,000. Special thanks to all those who were there and to those who made donations even if they weren t able to take part on the day. Our third annual Invitation Challenge took place on 16 May with gloomy skies threatening throughout the day. This has become one of the highlights on the annual tennis calendar with a round-robin competition between HKFC, HKCC, KCC and Clearwater Bay. As the defending champions there was a lot of pressure on the Club team to retain the title, and despite having to cut the competition short when the rain arrived they our team did enough to bring it home again. HKFC won with 27 points, KCC came second with 23, HKCC were close behind on 22, and Clearwater Bay finished on 17 points. Off the court We have been very fortunate to have WolfBlass sponsor us for another year with HK$150,000 passed into the Tennis Society accounts and the WolfBlass logo featuring on Club kit for all league players. The committee outlined a number of target areas for these funds to be used effectively, including: Improving the standard of our league players through subsidised coaching Offering subsidies to encourage Tennis Society members to participate in social events, the Club championship, overseas tours and matches against HKFC-hosted overseas teams Promoting tennis to the wider HKFC membership with coaching and social events Encouraging our HKFC juniors by contributing kit and prizes Honours boards on the third floor recognise those who have won various events in the Club championships while photos of teams who have won their leagues are also on display. Annually the Tennis Society is awarded permission to nominate three players for Special Sports Preferred Associate Memberships. Last year the players were drafted into Men s B and played an important role in helping them reach the play-offs and eventual promotion to A grade. This year one ex-davis Cup player has joined the men s A+ team and the promoted men s B2 team have recruited a young player who has won all his matches to secure B Division survival. The Society has continued to work closely with ATA in enhancing and promoting tennis at the HKFC. A big thanks to Kristin Godridge, Nathan Booth, Toby Clark and the rest of the team for the efforts they have put into tennis at the HKFC, especially as regards to junior development, organising and running our annual Club championships, and for the provision of social tournaments throughout the year. Tennis Society Committee It has been a difficult task filling the void left by Kevin McNamara following his departure last July. He managed all aspects of the Society and had a hand in most of the organising. During the year we also lost the services of our treasurer Trevor Fitzsimmons, due to heavy work commitments, and our Ladies Captain Celina Yeung both long-standing members with much committee experience. As a result of project completion, the current Tennis Society Chairman will be leaving Hong Kong later this year and a new committee will be elected during the forthcoming AGM. Greg Brutus Chairman, Tennis Society golf society In my report for 2013/14 I hoped that while it had been a good year for the Golf Society, our GS Committee and members could all work together to make this one even better. I can now state that 2014/15 has been our best year to date, for reasons of a sporting and social nature. This year has been successful and action packed both on and off the golf course and 29

31 [ SUB-COMMITTEE REPORTS ] 30 has improved the stature of the Society, which continues to be the biggest golf society in Hong Kong with a membership of just under 1,000 men, women and children. From July 2014 to June 2015, we have: a) Continued to provide eight golf debentures at Macau Golf and Country Club along with eight sets of golf clubs for hire b) Continued to provide 10 golf debentures at Lotus Hill Golf Resort along with four sets of golf clubs for hire c) Organised 24 golf events in 12 venues in Hong Kong and China d) Offered subsidised golf lessons to members using the Club s golf simulator bays e) Played 10 matches of which we have won eight and lost only two f) Come second in a four-way match g) Hosted nine-time Major winner Gary Player from South Africa and raised US$26,000 for his designated charity, the Player Foundation h) Hosted six-time Major winner Sir Nick Faldo from England and raised 30,000 for his designated charity, the Faldo Series i) Hosted French, Spanish and Italian wine dinners j) Upgraded to a new and better website which allows members to book for events online. It has replaced the previous website (www. hkfcgolf.com) which is no longer valid k) Ordered a fresh new design of shirts for our golf team The Society is currently organising two competitive events per month in Hong Kong and South China. During the year we have continued to grow our list of competitive fixtures against other golf societies and clubs and are now playing one or more matches each month. We are building up our inter-port fixtures with the Singapore Cricket Club and the British Club in Singapore, and aim to add inter-ports against the Royal Bangkok Sports Club and the British Club in Bangkok. Looking ahead, we may even venture to Shanghai and other destinations with which the Club has had inter-ports in various sports during its history. Locally, we now regularly play matches against the Hong Kong Club, American Club, Hong Kong Cricket Club, Chinese Recreation Club, Hong Kong Country Club, Royal Hong Kong Yacht Club, Discovery Bay Residents Association, Foreign Correspondents Club, United Services Recreation Club, Little Sai Wan, WAGS, Hong Kong Seniors and others. We are always looking for new talent and we encourage our better golfers to put themselves forward for selection for our matches so that we can field the strongest possible teams. Regular competitions, including the Annual Golf Society Strokeplay Championship and Dinner, Summer Cup, Walmsley Trophy, Christmas Cup and the Christmas Gathering, continue to be held. In addition, before the end of the year we will be introducing new competitions such as a Four Ball Better Ball competition for teams of two and a Texas Scramble for teams of four. Other traditional events include the Golf Society Chairman s versus Golf Society President s team four ball match and the Golf Society Committee versus the Club s GC match. Apart from organising our own events, we also participate in competitions organised in the region. In addition, we encourage our members to participate in events organised by the Hong Kong Golf Association (HKGA). We encourage all of our members to join the HKGA via the Golf Society or directly in order to obtain handicap cards. Such cards are useful when visiting golf clubs as many require proof of handicap before being allowed to play. Only members who have valid HKGA handicaps are eligible to compete in our competitions or represent the Society in matches. Members can drop their scorecards in the Society s drop box in the Club lobby or post their scores online using the HKGA website. Members without an official handicap are welcome to join us to play socially, but they cannot compete for prizes.

32 [ SUB-COMMITTEE REPORTS ] Our new website, contains a great deal of information about playing the game, not only with the Society but also with the HKGA and at our reciprocal clubs around the world. Forms for membership, debentures and so on can be downloaded, and Members can familiarise themselves with the Bye-laws of the Society as well as the rules for usage of debentures and participation in events and other matters of interest, including golf insurance, safety and etiquette, and the rules of golf as set out by the Royal and Ancient Golf Club at St Andrews in Scotland. So please do visit the new website to keep yourselves up to date. Another benefit of being a member is that GS members can enjoy a 30 per cent discount on golf equipment purchased from TaylorMade outlets in Hong Kong. At the last AGM, I reported that we had obtained our first grant of financial support from the Club via the S&RSC to fund part of the costs of our match-day kit and expenses. I am pleased to report the Club has agreed to increase our subvention to reflect the growing number of matches we now play against other societies. Through prudent management we have been able to keep our annual Golf Society membership fee of HK$600 per year at the same low level they have been since January Given that membership provides access to golf debentures and sets of clubs at both Macau Golf and Country Club and Lotus Hill, as well as subsidising the cost of participating in all of the events, matches and tours we organise, this is surely the best value golf membership available anywhere. However, after nine years we do need to increase our annual subscription fees to cope with the increases in costs that have occurred and which can no longer be absorbed from our previously accumulated reserves. We therefore put forward to our AGM in June a proposal to increase our annual levy from HK$600 to HK$750 with effect from 1 January 2016, and this was approved. This still represents excellent value given that even if a member plays only one round a year using our debenture in Macau, he or she will have already saved more than the amount of our membership fee. Our Society has in the past benefitted from the support of some major sponsors and in order to continue the development of our Society, we continue to seek new backers. We are interested in hearing from potential new sponsors who would like to work with the Golf Society to benefit its 1,000 members by providing financial and other support. Given the profiles and contacts of our members, this represents a good opportunity for businesses to raise their profiles within the Club, the Society and Hong Kong. A further incentive for sponsors is that, in cases where the level of sponsorship is sufficient, the sponsor may be offered membership of the Club. I would like to take this opportunity to express the thanks of everyone in our Society to the HKFC Management team, as well as Maggie Ng, Carbo Chang, Karen Mulvenna, Janet Chan, Shirley Lo and all the other Club Staff who work tirelessly behind the scenes to assist us. Our enthusiastic event organiser Phil Head, who has been working hard over the past year to support our committee and thereby enable us to deliver events to our members, also deserves our appreciation. I would like to thank all of the members of the committee for their hard work and support, in particular Andy Ho who will be stepping down as president after also serving for many years as secretary and chairman. Andy deserves the gratitude of the entire Society. Last, but by no means least, I would like to thank all of our members for doing me the honour of electing me as chairman of the Society for the past three years and for giving me the opportunity to lead it through an exciting period of growth. It is now time for me to stand aside and hand over to a new chairman to lead us forward to the next stage of development. I wish my successor Chris Meecham, and our Society as a whole, every success in the years ahead! Ian Petersen Chairman, Golf Society 31

33 [ SUB-COMMITTEE REPORTS ] 32 badminton society Tournaments After winning the Championship at the Craigengower Cricket Club s 120th Anniversary Badminton Tournament in June last year, the Club s Badminton team took a break while the Sports Hall was under renovation. We did, however, manage to arrange some social sessions at other venues during the summer months. Teams and socials resumed in September the first event was the President s Cup. In the Intermediate Division we entered a Mixed Doubles team and one in Men s Doubles. In the Elementary Division we entered a Men s Doubles team. In November, we hosted the annual Regional Tournament with participating teams from the Hou Kong Sports Club of Macau, the University of Hong Kong, the Law Society of Hong Kong, joining our own Badminton team. The annual tournament provided a good opportunity to identify talented players. This year, the HKU team emerged as the winners. In January, we started the new season by entering three Doubles Teams in the Doubles League. Teams played well in the first round but were unable to move on to the second round due to strong opponents in the division. During the year team members also entered open tournaments held in Hong Kong and overseas and achieved good results, including the following highlights: Boo Boon Khoo: Bronze medal in Combined 100 Men s Doubles, 2015 World Morning Cup Badminton Championship Boo Boon Khoo and son Raymond (aged 12): 4th place in 13th BOCHK HKBA s Individual Father and Son Men s Doubles Emily Chow: 5th place in Girls Singles in 5th Hong Kong Games; Champion in Girls Singles, Yan Oi Tong Badminton Competition 2015; 3rd place in BOCHK Hong Kong Annual Badminton Championships Friendly Matches In November last year a team of 10 veteran players from the Penang Sports Club flew in from Malaysia for a friendly match at the Club. We enjoyed a social dinner after the game and a reciprocal match was planned with a target date before the end of this year. Inter-Club League An inaugural Inter-Club League was formed with four participating clubs this first year. A total of 12 matches were played over an eight-month period with the league providing a planned schedule for players to compete regularly every three weeks. We will take stock of the experience gained with a view to promoting badminton both as a competitive and recreational sport for members of different ages and genders. Team Development The Thursday training sessions for the Badminton team was organised in tandem with the Friday Badminton Nights. A review is being undertaken to ensure that team members attendance and Sports Preferred Members commitment meet the Badminton Society s (and the Club s) objectives, Team training is to be moved to Friday nights to allow advanced junior players to join the sessions. Annual Badminton Tournament The Annual Badminton Tournament held on 14 June 2015 was the final event of the season and saw 25 members participate in three categories: Family Doubles Champions Edwin Ma/Amy Chan Runners-up Boo Boon Khoo/ Raymond Khoo Combined 100 Doubles Champions Runners-up Danny Leung/WS Lim Colman Lam/Kenneth Ying Men s Doubles Champions Edwin Ma/Danny Leung Runners-up David McDonald/ Raymond Khoo

34 [ SUB-COMMITTEE REPORTS ] Annual General Meeting The new Badminton Society Committee was elected at the AGM which was held right after the Annual Badminton Tournament: Chairman Secretary Treasurer Membership Secretary S&RSC Representative BS Captain Tournament Officer Social Secretary Ladies Captain Youth Representatives General Officers Ryan Wong Paul Tso BK Mak Philip Chan David McDonald Danny Leung Steven Ng Ben Chan Amy Chan Peggy Lee and Emily Chow SCYU, Michelle Cheung, Terry Leung, Tommy Li I would like to extend my sincere appreciation to the Badminton Society Committee members for their valuable contributions in promoting badminton as a recognised and popular sport at the Club throughout the year. Ryan Wong Chairman, Badminton Society swimming and triathlon society Since being set up in May 2002 the Swimming and Triathlon Society has established itself as a sports society able to attract members interested in competitive swimming, triathlon and fitness improvement. The Society is a Hong Kong triathlon registered club. We currently have more than 80 adult members and 30 youth members. The Society offers six coached swim-training sessions and one coached run session per week for adults, and two coached swim-training sessions and one coached run session for juniors. The Society has expanded its performance in open water swimming and triathlon with a larger, more committed adult race squad. A concerted effort has been made by the Society and HKFC to recruit strong and committed swimmers. This has made a strong swim squad and has produced good results. In 2014 HKFC experienced its first significant club success when it won the Revolution Asia Open Water Swim Series, involving three races held in South Bay, Repulse Bay and Deepwater Bay. Points were awarded to each competitor juniors and adults and the team with the most points at the end of the series were the winners. HKFC has also been regularly competing in the HKASA pool competitions. Some stand-out performances during the year included Craig Nortje winning his age group in the cross harbour swimming race and David Gething setting a world record with his outstanding seven marathons on seven continents in seven days. Since 2012 we have run a Youth Elite Training squad with two coached swimming sessions and one coached run session per week. The programme has grown to 30 children, and they have shown significant improvement with many now representing HKFC in splash n dash, runand-swim races and open water swim races. The Society has a core of strong performing triathletes and the Society and HKFC are currently taking measures to improve our triathlon training. Regular bike sessions are held on Tuesday, Thursday and Sunday mornings. Regular weekly coached running sessions recently commenced. The target races for members to train towards remain the Hong Kong International Triathlon in October and the everpopular Laguna Phuket Triathlon in November. In 2014 HKFC won the relay in the Hong Kong New World Triathlon. The Society is pleased to announce its first kit sponsorship with Blue Seventy who have agreed to supply sporting kit for competition. Society members have participated in numerous major competitions (ironman, triathlon, aquathon and swimming) in various countries throughout the year representing HKFC and achieving many podium places. The 33

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37 [ SUB-COMMITTEE REPORTS ] 36 annual event calendar with Swimming and Triathlon Society athletes competing covers: Deepwater Bay 1.5km Ocean Swim Shek O-Big Wave Bay 2.2km Ocean Swim Open Water Swimmers Series Action Asia Race Series Aquawiz Race Series Open Water Swimmers of HK Race Series King of the Hills Mountain Running Pier-to-Pier Classic: Stanley to Deepwater Bay 5km Clean Half 14.5km relay swim Hong Kong International Triathlon Asia Pacific 70.3 Triathlon Championships Laguna Phuket Triathlon Bintan and Bangkok Triathlon Ironman New Zealand Hawaii World Ironman Championships Duncan Ashford Chairman, Swimming and Triathlon Society bowling interest group (big) The Bowling Interest Group s main objective is to promote the game of Tenpin Bowling within the Club, both socially and competitively. BIG bowlers practice at the Club every Thursday evening to enhance their bowling skills, as well as to exchange useful ideas among bowlers. Bowling gear, accessories and international bowling events are common discussion topics. HKICTB League and Challenge BIG is a member of the Hong Kong Inter-Club Tenpin Bowling Association (HKICTB), which holds matches once a fortnight against other clubs across Hong Kong. The HKICTB season runs from October through to May the following year. HKICTB matches are currently using a handicap format which enables members of different levels to participate. And just like last season BIG finished second in the 2014/15 HKICTB handicap series. For the Team Challenge Club Tournament, which took place in June 2015, the BIG Committee formed a team of four captain Emy, Raymond, Bill and Semon who participated in the scratch series event. The BIG team performed consistently and the result was announced by the Convener Committee during the prize award night in September Internal Intra League BIG invited Lawn Bowls Section members to participate in our first intra-club bowling match on 10 July The friendly was well received with a full house participating. BIG was able to demonstrate ten-pin bowling skills throughout the three games and was also able to give some good advice to its lawn bowls counterparts, many of whom showed outstanding potential. It was a great night of social fun and entertainment with plenty of laughs and also a lot of strikes. The following week, the Lawn Bowls Section returned the favour and hosted BIG for an educational evening. It was very interesting to learn the correct approach to lawn bowls and also the scoring system. BIG thanks everyone involved for their co-operation in this new initiative and the spirit of brotherhood within the Club. BIG now plan to make these intra-club friendly competitions an annual event. BIG Committee Henry Luy... Chairman Marian Leung... Secretary Emy Clarke... Treasurer Raymond Chan... External Convener Bill Nader... Internal Convener Semon Cheung... General Officer Membership This past year we have recruited 11 new members, bringing our total to 46 of which 19 are active members. The BIG committee found the intra-club match against the Lawn Bowls Section a very effective recruitment tool and will look to organise more such matches against the other Sections/DSA/Societies. Henry Luy Chairman, Bowling Interest Group

38 [ SECTION REPORTS ] SECTION REPORTS 37

39 [ SECTION REPORTS ] 38 HOCKEY SECTION I am pleased to report that the Hockey Section is in good condition. Performance on the pitch has generally been good. Finances are strong thanks to the support from our sponsors. The development programme is doing well and is feeding talented young players into the senior section in growing numbers. Section members are supporting all activities and the numbers of volunteers we get for events and coaching is very good. An ethos of participation and contribution has permeated throughout the section and has given us a great sense of unity. The Ladies A dominated the premiership even more than normal and with a 100 per cent win-record and a 64-goal difference they took home both the league title and the cup. Men s A dropped a position from last year to fourth but performed admirably in a league which continues to get tougher. Ladies B had a tough season in the premiership but had a few games go against them that any other day might have gone in their favour. Men s B had another good season and continue to build on the strong platform they have created. It is always difficult being the second team in a division, but both B teams have shown enormous strength of character and we are very proud of them. Outside the premiership there were excellent performances from the Ladies and Men s C teams, who finished second and third. Both teams played a fast attacking game and provided a number of crowd-pleasing performances. With the quality of hockey they are playing, the Ladies C are going to find it difficult to stay out of the premiership. It was great to see the youngsters contributing significantly to both these teams. I suspect a number of these players will be moving up in the coming season. Other commendable performances came from the Ladies F team who finished third, Men s D who finished runners-up in the second division, and the Men s H team, who after a couple of tough seasons are getting their mojo back. The Hockey 6s tournament was another great success thanks to the hard work of James Buchanan and team and featured international sides from Japan, Dubai, Qatar, Indonesia and Switzerland, as well as a number of local and Club sides. The feedback from the overseas sides has been very positive, and we hope to develop our new relationship with Dubai and Qatar over the coming year and perhaps host a Desert Challenge between Qatar and Dubai as part of next year s 6s. The quality of the hockey in the elite tournament was excellent, with the majority of top players in Hong Kong in attendance, with the always-entertaining Khalsa winning and Punjab, Singh Sabah and HKCC putting up a great show. The social tournament lived up to expectations with the new mixed format adding to the fun and allowing some younger section members to participate. The Flying Hoppers from Switzerland, the winners of the mixed competition, have become something of a fixture at the tournament and are regarded by many as a favoured opposition, due to their presentation of Swiss chocolate at the start of their games. They demonstrated wonderful skills throughout the weekend exemplifying the true spirit of the competition. This tournament continues to be a very important means of advertising the Club to the international hockey community, which is why we continue to call on the support of everyone in the section. It is my hope that we are putting ourselves in a good position to host more serious competitions. Our flagship junior tournament continues to garner more interest. With the number of teams and children attending, it is a great credit to the organisers that the junior tournament runs as smoothly as it does, setting a good example of how to manage such events. With few junior tournaments and the number of teams that we have at each age group, this is the only tournament where all our players can participate. A key reason that we have been able to repeat the success of this tournament is due

40 [ SECTION REPORTS ] to the number of volunteers from across the senior section who manage each team, ensuring that they are at the right pitch at the right time, plus the volunteer umpires who ensure that a good game of hockey is played. Many of you were aware that we sent the Ladies A to play in a top-level invitational tournament in New Zealand. Originally the invitation had gone to the Hong Kong ladies national squad, who were unable to make it, and the invitation was passed to us to represent Hong Kong. The team has lacked serious challenges in the domestic league and it was decided that we should allow the girls to test themselves and have a goal to work to over the season. Although they finished fourth out of five, all the games were very close with a single goal being the difference in the majority of games. It is safe to say that the girls were good enough to compete at this high level and if a few of the chances had been converted, those losses could easily have become wins. It is clear that the tournament helped bring the team together and on their return they were able to defeat RFC Valley 6-2 in the cup final. We are all very proud of their achievements and appreciate the hard work that went into performing so well this season. This was the inaugural season for the Men s Vets League with teams from RFC Valley, HKCC, Shaheen, KCC, Expendables, and Badgers and Pandas from the Club. It was a more competitive league than most expected as a number of topclass players made the over-40 age category. As it was the first season there was always going to be a certain amount of experimentation and it quickly became clear that the Club can only field one strong team in order to be competitive against the top teams which included a number of ex-hong Kong internationals. Shaheen were the victors but Club Badgers were very close behind in second place. We have not yet decided the number of teams we will enter next year, but we will require a higher level of interest if we are to justify two sides. The Development Programme continues to go from strength to strength. Neil Galloway and Rob Barker established a strong platform, which Simon Shepherdson and Yan Adams have continued to build on this season. Simon Chapman continues to spread his hockey knowledge to a group of dedicated volunteer coaches which allows 300 young players to receive the benefit of his knowledge during the Friday and Saturday sessions. This is followed by more intensive and personal sessions on Monday and Tuesday to better develop those who are showing a particular talent or passion for the sport. Chappie has trained a number of the current and past Hong Kong internationals and we hope that he can repeat his success at the Club. I believe the best gauge of success for this programme is the number of young players we have got interested in the sport and who are pushing up into the senior section. I am pleased to report that James Shepherdson (aged 15s) and Damian Taralla (14s) have already played cameo roles for the Men s A team this season. I believe that if they continue to work hard at their game they will be able to secure more permanent positions in the not too distant future. The number of young players who are entering the senior section is starting to become a steady stream. Whilst there is a high level of attrition, with some youngsters going to boarding school and university, we are still getting a good pool of young players building up. In the coming season we plan to bring back a Boys Colts team to play in the senior league. With the girls we will continue to assimilate them across the teams as we have been doing. The result of this is that squad sizes are likely to increase and there will be greater competition for each position. As always we are eternally grateful to our sponsors Clifford Chance, HFW and Senon. Many thanks to Matt Truman and Peter Murphy for their support. There is no way we could do what we are doing without your help. Many thanks to our senior coaches Koen, Tina and Chappie for your hard work, and a big thanks to all our volunteer coaches who turn up 39

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43 [ SECTION REPORTS ] 42 every week to coach the Ladies teams and the youngsters and who spend most of their time as unsung heroes but are the very backbone of the Hockey Section. Many thanks to all the committee and a special thanks to Niccola Russo, Tim Loh, Paul McGuire, Neil Norman, Leela Patel, Christina Matula-Häkli, Martin Kwik, Shona Martin and Sophie Patton, who are stepping down. Sadly this year we said goodbye to Gurvinder Dillon who lost his battle with cancer in June. Guv was a tremendous contributor to hockey in Hong Kong, particularly at our Club, and he was a shining example to all of us in everything he did. He played through all the age groups and grew up to represent our first team and the Hong Kong national side with great skill, dedication and fairness. For many more people he will also be remembered for being particularly generous with the time he gave back to the sport by coaching our youngsters, our adult teams, and umpiring matches. That he is missed by so many whose lives he touched so positively, was evidenced by all those who turned up from across the community for the gathering at the Club after his funeral, where many fond memories were shared and will not be forgotten. After three seasons as chairman of the Hockey Section, I have decided to step down and will instead focus on getting our community outreach programme up and running. I have enjoyed my tenure and I am proud to be part of this energetic and dedicated group of sportspeople. I continue to believe that with the talent and dedication we have in the section we can continue to keep pushing the boundaries and in time I hope we can play our part in international hockey and the local community. Lastly, many thanks to all of you in the section who understand that the Hockey Section can only be the success it is with the continuing contributions from all of us, not just the few people on the committee. Nicholas Studholme-Wilson Representative, Hockey Section LAWN BOWLS SECTION Ladies, ladies, ladies it s the ladies again. Nick Grimshaw, my predecessor, in his report last year sang the praises of the Ladies A side for taking the championship of the First Division of the Premier League to give the Club the prestige of achieving this most coveted title for a recordbreaking seventh consecutive year. Well, they did it again in 2014 for the eighth time and the champagne flowed. Not surprisingly, under the helm of captain Camilla Leung, they are well under way to doing it again in Of course, it was not their efforts alone which brought glory to the Ladies A side. Also playing in the first division, Ladies B produced some excellent teamwork to help the A side. Whilst Ladies A were battling the Police on the outdoor green in the penultimate game of the season, Ladies B were taking four points off the A side s nearest rivals, Sha Tin A, on the indoor green. To B s credit, they finally took fifth position out of the 10 sides in the division. And let s not forget Ladies C, who had dropped down to the third division in 2013 but gave the Club some double happiness by winning the title and promotion back up the second division. Meanwhile, Men s captain and captain of the Men s A side Neil Herrington had been doing his best to recover from some serious but unlucky relegations in both the Premier League and the Triples League in He must have been asking himself, what s the difference between men and women bowlers, but I will leave that for you to answer. Suffice to say, with Neil s drive and encouragement the men s results at the end of the first half of the 2015 Premier League are very encouraging, with recoveries highly possible. At the end of the first half season of the 2015 Premier League, the Club s Men s A side are in fifth place in the first division, the B side sit sixth in the second division, Men s C have reversed their fortunes and are well placed for promotion back to the second division. Men s D are eighth in the fifth division and the E side are top of the

44 [ SECTION REPORTS ] seventh division, 12 points clear of their nearest rivals. The Ladies A side are top of the table, four points above their closest rivals and the B side fifth in the same division. Ladies C currently sit seventh in the second division. In the Triples League, held from late November 2014 to early February 2015, the Men s A and B sides were ranked third and fifth in the first division, Men s C were relegated to the third division, D finished sixth in the fourth division, E managed to avoid relegation by finishing eighth out of 11 sides in the seventh division, and Men s F finished a very credible third in the ninth division. If Neil s current tactics in the Premier League continue, with a bit of luck promotions are well on the cards for the next Triples league starting in November. The ladies sides in the 2014 Triples League worked well together again to provide even more prestige for the Club, with the A side taking the title and the B side finishing runners-up in the first division. Ladies C ended up a close third in division three, only just missing promotion. Ladies D, fielding some veteran bowlers to help the beginners, held fourth place in the fifth division. For the first time, the Chinese Multi-bowls Association organised the 2014 China League Games in Shenzhen. With the aim of furthering the development of bowls in China, 14 teams from Hong Kong and the southern areas of the mainland competed in two games per day, once per month. The Club s men-only team took eighth place but, for the current 2015 season, a men s team and a ladies team have been entered and are currently enjoying some good results. In addition to the Lawn Bowls Section s members playing the normal 27 weekly fixtures each year in the leagues, many took part at all levels in 18 separate National Competitions organised throughout the year by the Hong Kong Lawn Bowls Association, bringing considerable prestige to the Club with their achievements as shown in the following table: competition position hkfc bowlers Men s Indoor Singles 2014 Men s Knockout Singles 2014 Indoor Pairs 2014 Men s Champion of Champions 2014 Men s 2x4x2 Pairs 2014 Women s Singles 2014 Women s 2x4x2 Pairs 2014 Winner Runner-up Winner Runners-up Runner-up Runners-up Winner Stephen Chan Kenny Tam Neil Herrington Neil Herrington & Derek Wyllie Derek Wyllie Kenny Tam & SK Ng Dorothy Yu Runners-up Vivian Yip & Camilla Leung Women s Pairs 2014 Runners-up Vivian Yip & Celena Kwok Women s Triples 2014 Winners Phyllis Wong, Shirley Ma & Camilla Leung Runners-up Wong Yee Ming, Connie Chung & Emmie Wong Mixed Pairs 2014 Winners Camilla Leung & Danny Ho Ronson Au Memorial Mixed Fours 2014 Men s Indoor Singles 2015 Women s Indoor Singles 2015 Women s Pairs 2015 Women s Triples 2015 Runners-up Runner-up Winner Winnie Au, Camilla Leung, SK Ng & Danny Ho Danny Ho Dorothy Yu Winners Rita Shek & Wanis Sze Runners-up Vivian Yip & Celena Kwok Winners May Poon, Flora Ni & Priscilla Lam Mixed Pairs 2015 Runners-up Winnie Au & SK Ng Mixed Fours 2015 Winners Winnie Au, Camilla Leung, SK Ng & Danny Ho Runners-up Connie Chung, Connie Chan, Stanley Luk & Stephen Chan Not only did the Club benefit from the prestige of its bowlers winning these events, but those playing in the major events earn points which are needed to gain a position on the Bowler of the Year ranking table. The 15 bowlers with the highest points, aggregated over three years, become eligible to play in the Hong Kong national squad. In this respect, the Club did exceptionally well in 2014/15. Currently, for the 2015/16 squad, Dorothy Yu, Phyllis Wong, Emmie Wong, Camilla Leung, Vivian Yip, Shirley Ma and Celena Kwok are among the 15 ladies, and CT Wong and Terry Kung are among the 14 men of the Hong Kong 43

45 44 squad. Dorothy Yu, not only became Joint Bowler of the Year for 2014, but she took two gold medals for Hong Kong in the singles and pairs of the 2014 Asian Bowls Championship. Vivian Yip took gold in the Asia Under 25 Singles Championships 2014, gold in the mixed fours of the 2014 National Bocce (lawn bowls) Elite Competition with team-mates CT Wong and Christina Yeung, and gold medals in the singles and pairs of the 2015 Chinese National Bocce Championship. Other favourite past-times enjoyed by many of the bowlers are the so-called social or friendly neighbour annual inter-club games with Craigengower Cricket Club, Hong Kong Cricket Club and Kowloon Cricket Club. Having nothing to do with cricket, they often develop into very keen competitions for the coveted trophies. Currently, the Eve Duncan Apple Trophy rests at HKCC, the CCC/HKFC Friendly Neighbourhood Trophy rests at the Club, and the S&C (Sports Road and Cox s Road) Trophy rests at KCC, giving social secretary Frankie Siu a lot of hard work to do. Also, Frankie has recently revived the Sunday Afternoon Social Games which have been well-attended. The section is indebted to HKFC management for providing the bowling greens. It is three years since the outdoor grass green was replaced and it is now well matured. Under the advice of the Club s consultants, usage by bowlers has been gradually increased and now the quality of the playing surface is considered to be one of the best in Hong Kong, in spite of it being heavier or slower than many might prefer. The carpet of the indoor green is nearing replacement time, though the benefits of its home-green advantage due to the uneven surface are appreciated by many bowlers. The GC has advised that during the planned renovations of the Club s second floor in 2016, which will include the removal of the ceiling above the green to allow new services pipe work, the opportunity will be taken to replace the carpet and possibly include some improvement in the levels of the underlying concrete surface. Unfortunately, the green will be closed during these operations. With regard to the running of the section, our GC representative Nick Grimshaw resigned and a section EGM was held in September 2014, at which I was nominated for the post. After a fouryear break, following my previous eight years representing lawn bowls on the GC, I was happy to be elected again at the Club AGM in November. Changes to the timing of the section s AGM from September to March, in line with the other sport Sections, has had little effect on the running of the section. Chairman Bernard Young continued with the strong support of his previous officers with only a few changes taking place at the March AGM. The Ladies captain s role moved from Emmie Wong to Wanis Sze and the membership secretary, Louis Ko, was replaced by Kenneth Pang. Earlier in the year, Walter Kwok resigned as competitions secretary and Frankie Sui had been co-opted into the position. At the AGM, Frankie became the social secretary and Esmond Lee took up the post of competitions secretary. Anne Gately was persuaded to continue as secretary for another year but resigned at the end of April due to heavy personal work commitments. Yours truly has taken on her role until a volunteer can be found. In July 2014, the ongoing bowling activity of some of the section members had been highlighted at section committee level. This was mainly due to them apparently not of acting in the best interests of the Club by playing league games for other clubs whilst enjoying all the benefits of being an HKFC member. This caused concern among some of the bowlers whose loyalty to the section and the Club had never been in doubt. The matter also involved management s concern that the kit allowance, provided to the section from the Club s budget, was being used to provide kit for those bowlers who actually played competitively against the Club. These concerns were discussed at the GC meeting in December 2014, after which a detailed bowling activity survey to be conducted by the section was requested to allow the GC to ascertain the full extent of the situation. The survey found that out of a total of

46 232 members, 55 were not actively bowling but, more importantly, 23 members were bowling for other clubs. Following consideration, the section committee was required by GC to restrict some of the benefits normally made available to those 23 section members. Section members affected by the restrictions were welcomed to commit themselves to support the Club again and it now remains the difficult task of the section committee to persuade these bowlers to return to support the Club. The matter of an appropriate kit allowance for lawn bowlers, who are required to play throughout the year in all weather conditions, is now under discussion with the Honorary Treasurer and the Director of Finance. A facility which has greatly improved the enjoyment and appreciation of bowling has been the setting up of the section s website. This has been done with the help of Leo Yau, who is one of the section s keenest bowlers with two sons who are also following in his footsteps. Not only does the website contain serious information such as the bye-laws and minutes of meetings, it provides many stories and galleries of section bowlers competing and enjoying themselves socially. In spite of the emphasis on winning prestige for the Club, it must not be forgotten that bowling is a recreational sport to be enjoyed by all. Bernard Young, the committee chairman, devotes much of his time trying to keep everyone happy. With the help of captains Wanis Sze and Neil Herrington, competitions secretary Esmond Lee, and social secretary Frankie Siu, he endeavours to maintain a friendly atmosphere among those who compete daily as team-mates against other clubs and also, on many occasions, against each other. We must not forget deputy chairman and HKLBA convenor Johnny Tsang, membership secretary Kenneth Pang, coach CS Suen, and greens secretary Koon Wing Cheng, who have contributed their valuable time to making things run smoothly, and last, but not least, treasurer Irene Muk, who has kept a tight control on spending. Mike Worth Representative, Lawn Bowls Section RUGBY SECTION The Rugby Section enjoyed mixed results in the 2014/15 domestic season with trophies spread across the section. Away from on-field activity, the section hosted various tournaments, carried out several tours and held successful social events and functions throughout the year. Supported by new headline sponsor Natixis, Club got off to a slow start in the top-flight Premiership division despite recording wins over Kowloon and HKCC. While the regular league season continued to be a challenge, the team improved enough to reach the semi-finals of the season-ending Grand Championship, where they lost narrowly. The squad was led by Jimmy Richards and coached by Kevin West. Team MVP honours went to Pierce Mackinlay-West. The Dragons, playing in Premier A Division, once again took home league honours and only just missed out on the double after putting in a strong showing in the final. They were led by Chris Lee, and coached by Dave Egerton and Terry Wright. Team MVP was Richard Sharpe. Having moved up to the Premier A Division alongside Dragons, Scorpions had a tough year but still managed to finish the season with five wins out of 12 and a positive points difference. Captaincy duties were split between Peter Tattersall and Guy Payn, with the team coached by Dave Egerton and Terry Wright. Scorpions MVP was Peter Tattersall. Select had a difficult season in National League 1, which turned out to be very competitive. Select s constantly changing squad were ably led by Conor Cole and coached by Adam Harper, while MVP honours went to Lee Curtis. Promoted into National League 1, Bulls benefitted from some influential recruits who helped them enjoy a strong season. They finished the regular league in second place and then turned over a previously unbeaten University side in the Grand Championship final. Led by Nick Tuohy, Bulls were once again coached by Karl Rowe and Pete Spizziri. MVP was Greg Tse. 45

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49 [ SECTION REPORTS ] 48 Led again by David Powell and self-coached, Sequins finished third in National League 2 which proved a difficult league to find any consistency. Richard Greenwood won Sequins MVP. Playing in their first season, Expendables joined National League 3 and recorded three solid wins. They were led by Simon Young, who was also named MVP. Ice, the HKFC women s team, had an outstanding season and won Women s National League 1 by a healthy margin. The turnaround in fortunes this year was largely the result of excellent recruiting work during pre-season led by Fiona Atkinson. Ice were captained by Aileen Ryan and Royce Chan, and Royce took MVP honours. Ice were coached by David Wigley and John Hannon, and David was awarded the Women s Development Coach of the Year Award at the HKRFU Dinner. The section was proud to see the return of a second women s team in the form of 10s side Fire, who were captained by Francesca Man and recorded their first victory. MVP honours went to Denise Chan, while the coach was Gloria Cheung. Pierce Mackinlay-West won the Brian Huddleston Trophy for Best and Fairest Player, Bruce Ruffy won the Jack Kelly Award for Club Man of the Year, and Charles Higson-Smith won the Paul Gibbs Trophy for Most-Improved Player across the entire Rugby Section, which had 13 players selected for Hong Kong national men s representative sides in 2014/15: Fifteens: Adam Butterfield, Josh Li, Niall Rowark, Lloyd Jones, Gavin Hadley, Jimmy Richards, Jake Phelps, Jonny Rees, Charles Higson-Smith Sevens: Michael Coverdale, Matt Worley Both: Jamie Hood Colts had 254 teenagers participate in rugby at the Club this term. On the whole it was a very positive season with 10 U19 boys playing up with the seniors and high numbers making Hong Kong national age-group squads. Among them were five boys playing for Hong Kong in the World Rugby U20 Trophy in Portugal in May. U19 Boys had teams in Div1 and Div2. HKFC won the Div1 League and Grand Championship final, plus the Cup in the Div1 sevens tournament. The Div2 team won the Plate in both the Grand Championship and Div2 sevens tournament. Some 15 Club boys represented Hong Kong across the U17, U18 and U20 age groups and one player, Matt Worley, represented Hong Kong at the senior level. U16 Boys ran teams in Div1, Div2 and Div3. HKFC had a clean sweep, winning all three leagues, and also won the Div1 and Div2 Grand Championship finals and the Div3 Grand Championship Plate. Seven of our U16 boys represented Hong Kong at the national level. U14 Boys ran teams in Div1 and Div3, and 10 boys made the national squad. U13 Boys had teams in Div1 and Div2. No players were in the national U13 squad, but a few U13s made the U14 national squad. U19 Girls had one team and two of these players made the national squad. U16 Girls combined with USRC Tigers for the 15s league and eight HKFC girls were selected for the national squad. In sevens, HKFC ran their own squad (Ice Cubes) with a little help from Aberdeen. U14 Girls combined with Valley Fort and USRC Tigers for the 15s league, with eight HKFC girls making the New Year s Day Island squad. In sevens HKFC ran their own squad with one girl joining from Valley Fort. The side won the Cup at the DB beach festival, the Plate at the first union sevens super day, and despite many injuries the girls were able to make the Cup final at the second union super sevens The Mini Rugby section continues to grow year-on-year, with more than 750 girls and boys playing across the age groups. Girl s rugby has shown particular growth, with all our girls teams now playing at U12 and U10 levels. The section continues to involve parents as coaches and managers, encouraging mums and dads to be part of the mini-rugby community, and we also help to improve coaching standards by financing

50 [ SECTION REPORTS ] IRB L1 coaching sessions for as many of the coaches as we can. The HKFC Minis Festival is the highlight of the festival calendar. This year 22 clubs were represented by 330 teams involving more than 3,300 kids. The HKFC U12 side did extremely well to reach the final of the Richard Hawkes Trophy and were unlucky to lose narrowly to a very good Sai Kung team. The Taipan s fixture, first played in 1951 and resurrected in 2011, was played again this year with Mr David Egerton s Challenger s XV taking on Barry Stowe s Taipan s XV and producing some exciting rugby, and a highly entertaining close score. Mr Stowe, executive director of global insurance giant Prudential, served as an excellent Taipan and entertained those in attendance with his American take on rugby. The day featured matches ranging from a University alumni challenge (with players from Kowloon, Pandas, HKCC, University, USRC, Nomads and HK Scottish) to a mini-rugby tournament. This year the U19 final and the U16 final were included in the day s activities, adding to the atmosphere. The section again organised the GFI HKFC Tens held at HKFC. The two-day 2015 edition of the event, described as the best rugby tens tournament in the world, was won by a starstudded HSBC Penguins, with the Natixis Club narrowly missing out in the Plate final. Touring, as ever, featured prominently this year with trips to Shanghai, Manila, Phuket, Myanmar and Tokyo. The Vandals HKFC s touring-only side travelled to Yangon in Myanmar and forged links with local side Yangon Dragons. The Vandals carried out rugby-focused charity work with two groups of disadvantaged children. Once again organised by ex-club man Sean Purdie, the Vandals are forging a tradition of charity and spreading the rugby gospel. The Minis also enjoyed a very successful tour to Kuala Lumpur for the international tournament. HKFC represented themselves very well against teams from across the region, the highlight being the U9s retaining the trophy they won in On the social side we enjoyed another active season with regular highlights being the Captain s Dinner, the Walton Brunch in memory of our losses in Bali, and the May Ball. Social events continue to be a strong element of the way of life in the Rugby Section. Together with the HKRFU the section helped organise and manage the Natixis Cup. The French bank pitted its two sponsored teams Top 14 outfit Racing Métro 92 (now simply known as Racing 92) and the Hong Kong Football Club President s XV against each other in an exciting match. The Racing side included international capped players such as Juandré Kruger, Casey Lualua, Antonie Claassen, François van der Merwe and ladies favourite Dimitri Szarzewski. Played in the best spirit of the game, the match was battled out in Barbarians style with the French outfit emerging convincing winners. A big thank you to the very many who contributed to a great season, and in particular a special thanks to: All Rugby Section players All Rugby Section coaches, managers, captains, committee and volunteers Our senior rugby sponsors Natixis, DHL, QNet, CBRE, CPA Global, Foster Our youth rugby sponsors Natixis, Withers Worldwide, CBRE, Tag HKFC Tens sponsor GFI The HKRFU (or HKRU as it s now known) for its support and for the game s growth and development Referees who strive to make every game possible, fair and safe The management and staff at the HKFC for all their help and support Lastly, we mourned the loss and then celebrated the lives of former HKFC Rugby Section chairman Bill Burgess and Justin Thirlwell. Both shall be missed greatly. Andrew Eagle Chairman, Rugby Section 49

51 [ SECTION REPORTS ] 50 SOCCER SECTION The 2014/15 season was one of transition for the Soccer Section, with a new Chairman, new General Committee Representative, new Section Coach and a new Section Captain! Despite these changes, the season was relatively successful when considered against the targets and the expectations set. In the HKFA First Division, the First Team finished second, 12 points behind run-away champions Metro Gallery Sun Score. In consideration of the amateur status of the Club, this was considered an acceptable performance which the First Team will build upon for the 2015/16 campaign. Due to personal commitments, Paul Foster stood down as Section Coach. The Section Committee thanks him for his service to both the First Team and the section over the past six years. Richard Ewart has been appointed the new Section Coach and we wish him all the best in his new role. For Lucky Mile, the 2014/15 season target was survival in the First Division, but after a 5-0 reversal against the First Team in the opening game of the season, this seemed unlikely. However, an improved second half of the season, including an impressive victory over champions Metro Gallery Sun Score, saw Lucky Mile finish an impressive sixth in the standings. An excellent season and due reward for the hard work put in by both the coaching team and the players, with Lucky Mile establishing their rightful position as the section s second team! In the Yau Yee League, it was hoped Wanderers would improve upon their secondplace finish in the previous campaign, however it was Tony Hamilton s well-organised Albion team who ran out champions, three points clear of KCC Dragons. Tony s input and hard work with an established squad was more than adequately rewarded. For Wanderers ageing squad, the season may have been a year too far. The Colts finished with a credible mid-table position, with the injection of young talent from the Youth Pathway programme proving the initiative an unmitigated success. The HKFC Ladies season proved a major challenge with 50 per cent of the squad under 18 years of age! As such, a fifth-place league finish was considered very commendable, only surpassed by their Cup performance, where they were beaten finalists to Citizen. 2014/15 was also the inaugural season for the HKFC Veterans, competing in the newly formed Hong Kong Legends League for players over 35. The Veterans gave a good account of themselves finishing second to a strong French Dragons side. With the introduction of the Veterans it was questioned whether there would be any impact on the social team squads. Dynamics introduced some well-needed younger legs to their ageing squad and the Rovers took full advantage of their connections with Junior Soccer. Only the Gazelles were impacted by the new Veterans side. In the Inter-Section matches, Rovers ran out victors for the second year running, with Dynamics picking up the wooden spoon after defeat to the Gazelles. Youth football saw success for the Under-15 Youth Pathway team, being crowned Henderson Division 1 League Champions. The Y9 (U14) Junior Soccer team carried off the Hong Kong Junior Football League Cup and the Section Chairman won his first (and second!) piece of silverware as a coach after 25 years of trying, with a Championship win for the P3 (U8). The Boxing Day Festival of Football introduced outside clubs, including Kitchee and Sun Pegasus, to compete in a series of challenge matches over a range of age groups from U10 to U14, and involving both boys and girls teams. A large crowd was on hand for the event with all involved providing positive feedback and encouragement in developing the tournament further. The Junior Soccer Section programme had a subscription of nearly 650 participants, evidencing its popularity and success, which is a reflection of the hard work and effort of its chairman, Nam Nguyen, and his strong team of coaches and organisers. For elite players, mid-week

52 [ SECTION REPORTS ] skills training sessions have been introduced, which no doubt will increase the demand for the programme. With a loss of one hour of Saturday morning Main Pitch time, the demands on everyone going forward will be even greater! Our Crusaders had another great season under the leadership of Nigel Merritt and his team of coaches. The Section extends its profound thanks to the programme s long standing sponsor, Prudential, for their wonderful support. The last weekend in May saw the Club host the HKFC Citibank Soccer Sevens tournament. Tony Bratsanos and his organising committee put on another impressive tournament, both on and off the field, where debutants Atletico Madrid ran out winners after a thrilling final against West Ham United. The Sportsman s Dinner, with a humorous and well-received after dinner speech by Jan Molby, was well attended. This year s Soccer Sevens also saw the introduction of an open invitation provided by the section to under-privileged children and 80 youngsters from local children s foundations enjoyed a free day at the tournament at the expense of the section. All those who attended expressed a warm thank you to the section and, in particular, organisers Mark Grainger and John Charleston. The section will look to continue this successful initiative for future tournaments. In view of the HKFA s development of the Premier League, the section has considered the opportunity of Club representation. In seeking to ensure that, should the opportunity arise, the section is suitably prepared, the section committee is currently developing a paper to address the issue, which will be made available for open discussion among section members once finalised. The section s success was not restricted to the football field, with a long-overdue victory on the cricket field against KCC coupled with a credible display in losing to HKCC. The Club has a long and strong relationship with both these clubs, as well as other local clubs, and we look forward to further developing these relationships in the future. Over the last year, it has been noted that voluntary attendance and support of section events has been poor. The success of these events depends on the support and involvement of Soccer Section members across the board and it is hoped, in moving forward, that a greater degree of commitment will be forthcoming from all, along with an appreciation of the hard work and effort being put in by the committee and all other volunteers. This year saw the section sending a full representation on tour to Thailand with games against the RBSC. Let s hope that this is the start of more regular tours in the future. Also, on the touring front, this season the section was pleased to play host to touring teams from Australia s Victoria Police and the Royal Selangor Club in Malaysia. The section currently enjoys on-going sponsorship arrangements with Citibank, Prudential, the Executive Centre and Displaytech. Each section member has, among other things, access to an annual touring subsidy, training kit for players and match-day polo shirts, a website and a strong kit deal with Canterbury. Without the continued support of our sponsors, these privileges would not be available. My thanks and appreciation on behalf of the section members is extended to each of our sponsors. Over the last 12 months, I can report that the Soccer Section Committee has performed admirably, with a number of new initiatives being put in place, including the introduction of a committee member s responsibilities guideline, the monitoring of the KPIs of Sports Preferred members under commitment, and the Boxing Day Festival of Football. I wish to thank all the members of the committee for their hard work and support throughout the year. I would also like to offer particular thanks to the officers of the committee Les Collett, Mark Devonshire, Neil Jensen, Steve Tew, Scott Semple, Nam Nguyen and Andy Bentote - for helping me in my first year as chairman and ensuring my inbox is full every day! 51

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55 [ SECTION REPORTS ] 54 Finally, on a sad note, during the season the section lost three longstanding and respected former members John Maloney, a former section chairman, John Gourlay and the Big Buffalo Walter Gerard. Our thoughts and condolences go out to all their families. Kieran Flynn Chairman, Soccer Section SQUASH SECTION A premier sporting and social club is judged by its facilities, this much is true, and so it was with great satisfaction that our three new world-class glass courts were completed around the time of our 2014 AGM. They have been very well received and our thanks go to the Club, Mark Pawley, the operations team and Neil Roberts as chair of the DSC for their smooth installation in time for our professional tournaments. This moves me on to our annual PSA tournament. In an AGM two years ago we said, providing funding could be found, we would offer a professional women s tournament to be played alongside the men s event. We achieved this, with the dual events being held towards the end of May and, it should be noted, with equal prize money of US$25,000 each. We decided that our earlier experiment of holding the Squash 3 s at the same time had been a success so we did this again, with visitors to the eighth edition of the tournament having the opportunity to watch professional squash over the weekend. The outcome was pure gold, with the large number of spectators ensuring there were just a few empty spaces in the viewing gallery. Our third PSA tournament was won by Hong Kong s Max Lee while Amanda Sobhy from the USA captured the inaugural WSA title. A tremendous amount of work goes into organising these three tournaments so my thanks to all involved, in particular David Murray, Phil Head and Lee Robinson. I also thank the Club and its operations team who make sure everything runs seamlessly at a busy time of year. sponsorship We continue to be supported by Laracy and Co now in conjunction with Hill Dickinson together with King & Wood Mallesons and the Meco Group. I am also pleased to report the renewal of sponsorship in respect of our weekend junior programme by East Park Investments. I would like to thank Damien Laracy of Hill Dickinson, David Bateson of King & Wood Mallesons, Anson Au Yeung of Meco Group, and Eden Wong of East Park Investments for their continued support, without which we would struggle to ensure the progress and development of the section and our junior players. men s league season In men s squash I m happy to report that 12 out of 16 Main League teams reached the top four play-off positions along with five out of the six Masters teams. Congratulations to the teams who secured league and play-off titles. HKFC4: League and play-off champions convened by Ben Lloyd HKFC10: League champions and play-off runners-up convened by Josh Williams, though recognition should also go to Mike Shilton who started the season as convenor before he left Hong Kong HKFC15: League and play-off champions convened by Nick Organ HKFCM2a: Play-off champions and league runners-up convened by William Fan HKFCM1a: Play-off champions convened by Julian Ragless The overall performance was similar to last year and continued to provide a platform to build on. In a year that saw no dominant force, we did take away the biggest trophy haul across all the clubs in the Main League and Masters, giving us a foundation for continued success. 2014/ /14 League titles 3 2 Play-off titles 4 4

56 [ SECTION REPORTS ] One of the success stories of the season was the inclusion of some of our juniors in the Main League teams. Recognition and applause must go to our great motivator Fred Teng and his team of coaches and volunteers of whom there are too many to name who have done a fantastic job in introducing dozens of youngsters to squash. While these young players might be raw, they are certainly not highly strung they are grounded and eager to learn. Two juniors involved in this programme, Max Kerr and James Horsey, broke through the barricades to star in our Division 10 team and were instrumental in bringing home the league title in their first season in the Main League. I would like to thank Elliot Froidevaux, who started the year as captain only to have to stand down due to his workload. He put in a tremendous amount of hard work during his time and was instrumental in selecting the teams for the season. All teams played with the pride expected of a group representing HKFC. As well, there were some outstanding individual performances that deserve a mention with the following players all topping the charts in their divisions: Eric Ho Division 3 Jason Lam Division 8 Josh Williams Division 10 Oliver Weisberg Division 14 Michael Yang Division 15 I must also mention Jon Pipe, who returned from an operation the previous season to make a strong impression in Division 4, winning nine of his 10 matches a wonderful return that spread a huge feeling of belief throughout the entire Squash Section. Some of our top players such as Ho Fai Chiu have starred in the Squash Leagues and other events such as the triangular Indonesian National Team / British Army / HKFC fixture. The success of the teams and enjoyment for the players would not be possible without the hard work and effort put in by the convenors. It is the nature of the beast that this role is time consuming and demanding, so I would like to thank them for giving up so many of their spare hours and enhancing the enjoyment of their team-mates. My thanks also to David Cross, the Men s Squash Captain, for all his hard work and excellent communication with his colleagues throughout the section. ladies league season This season saw an increase in the number of ladies teams to six; one in Division L1, two in Division L2 and three in Division L3. A mixed team played in Division 14. L3A won Division L3 and lost by two points in the final of the play-offs; the team played consistently well and their inaugural league success put a shine on the whole season. L2A won the play-off finals for Division L2 and, again, deserve a lot of credit for their commitment and performance. L1 found the standard in Division L1 to be very high, finishing last despite some battling displays. L2B were third in Division L2, L3B were fifth in Division L3, with L3C propping up the table. This latter team comprised new and junior players with the aim of introducing them to competitive league play. My thanks go to Chin Macnamara and Pat Choong for organising the league and play-off winning teams. Division L2 players deserve particular credit as there were only four teams in the division, with teams of only three players, which often meant going round and round against the same opponents. However, the decision to try to rebuild this division had to start somewhere and has proven to be the right approach. In addition to the inter-club socials, our ladies have taken part in matches against the British Army, the Indonesian National Squad and KCC. They have also participated in the Wing Ding, the Squash 3 s, and been on tour to Tokyo. My thanks go to Rachel Sutcliffe, the Ladies Squash Captain, for all her hard work and superb co-ordination of section officers and players. 55

57 [ SECTION REPORTS ] 56 socials Off court, our chief events organiser Vinod Harjani worked hard to bring a crowd to our three main events. The Start of Season Party at Mayta on 20 September saw a turn-out of 80 people, with the restaurant almost full. Guests enjoyed an open bar and plenty of fabulous food from the buffet. Some entertaining games were played as well, with the main prize a pair of earrings won by George Chan (which I m sure will look most fetching). Around 90 people revelled in the Christmas party on 13 December. This was a casual evening, with finger foods served around the restaurant the whole night, and everyone was impressed with the snowman ice luge and excellent DJ. There were games that offered Fitbit fitness trackers as the main prizes and these were won by Clare Robinson and Mark Sutcliffe. The End of Season Party on 12 June attracted 110 people and was a fantastic way to see out the season. I acknowledge that sometimes Vinod must have felt like a man in chains as he organised these gatherings, as it does take a lot of time and patience, so I would like to acknowledge his hard work and almost missionary zeal for finding new and interesting venues around Hong Kong. junior squash programme The concept of having a Junior Squash Programme run by volunteers, similar to other junior initiatives operated by other Sections in the Club, had been talked about for quite some time. To cut a long story short, this idea became a reality when Eden Wong of East Park Investment Management Company Limited decided to become our sponsor 12 months ago. The Squash Section are very grateful to Eden for throwing us this lifeline, as it was his financial support that provided us with the starting capital to get the programme going. Money was spent on getting the right equipment for beginners and also, more importantly, to pay for the services of qualified coaches, led by Matt Robinson and ably assisted by Greg Christison. Hiring professional coaches to oversee the entire programme would have been too costly so the answer was to unleash the volunteer spirit of the section. A huge thank you must go to all the volunteers who helped Fred Teng with this reformation of our entire junior programme. It is only a matter of time before we start seeing some of these youngsters represent HKFC. The season ended with a Junior Club Championship, held over two weekends in May. I should extend my gratitude to Phil Head of Blade Ltd for co-ordinating with programme head coach Matt Robinson on this event. The main Junior Squash Programme for 2015/16 will commence in September, to coincide with the start of the regular Hong Kong squash season. There are in excess of 50 children in this programme now and they show great enthusiasm for the game every time they cross the line on to the court. I would like to say a huge thank you to Fred Teng for all his hard work. tours Taipei Tour, July 2014: Nine people participated in this tour and played two clubs Taipei America Club (HKFC lost 14-7 in matches); and Taipei Squash Club (HKFC won 20-10). Singapore Tour, January 2015, Tanglin Club Jumbo Doubles: Seven people went on this tour where Matt Robinson and Keith Frith reached the Cup quarter-finals, while Elliot Friodevaux and John Pipe were runners-up in the Plate. Tokyo Tour, March 2015: This tour involved 15 people and two club contests Tokyo America Club (HKFC lost 10-3 in matches); and Yokohama Country and Athletic Club (HKFC won 14-10). Bangkok Tour, May 2015, RBSC Jumbo Double Chieng Mei Cup: Eight people went on the tour, where Adrian Ng and Kenny Foo won the Plate; Phil Head and Glenn Hitch reached the Cup semis; Matt Robinson and Keith Firth reached the Cup quarters; and James Zhang and Alex Berriman reached the Plate quarters. It is difficult to arrange and encourage members to go on tour and Adrian Ng has done

58 [ SECTION REPORTS ] an excellent job as tour convenor. For example Tokyo, despite its myriad attractions, is a pretty cold and windy town in March, yet 15 people braved the freeze to participate in what was a superb tour. My sincere thanks to Adrian for his unstinting efforts. matches Perrier HKFC International, October 2014: This featured players from the British Army, Indonesian National Team and the Club, with a total of 16 men and 16 ladies taking part. While the Indonesian National Team won on the day there were some excellent performances from the Club and the British Army. HKFC v HKCC, January 2015: This was the largest inter-club match in our history with a total of 126 players taking part, yet superb organisation ensured the event ran smoothly. The junior category involved 34 mixed players with the Club winning overall. The senior event had 92 mixed players with the Club prevailing in the final two games of the day to emerge victorious at HKFC v Indonesian National Team, May 2015: This featured eight ladies and eight men. The ladies were swept 0-4 in matches while the men went down 1-3, with a note of congratulations to Malcolm Kerr for being the Club s sole winner against super-fit and musclebound opponents. Steve Gollop has done an amazing job this year and this reflects in the excellent turn-out for these matches. Well done, Steve, and my sincere thanks to you. coaching Phil Head, Chad Sunde and Matt Robinson are all registered coaches working for Blade Ltd at HKFC. Greg Christison was also registered and coaching at the Club before leaving Hong Kong, although he has since returned to the territory. juniors We currently have 25 active juniors playing in the junior ladder and training with Blade Ltd every Wednesday and Friday. Junior Club Championships: These were held in May with players divided into U8, U10, U12, U16 and U18 age categories. team training These weekday evening training sessions have been very popular in the past year. club nights These are still a popular feature of the section s activities with, on average, some 20 members participating, typically bi-weekly Fridays and Saturdays. My thanks go to Phil Head and the coaching team for their continuing efforts to improve the standard of Club squash. tournaments Domestically, Jon Pipe has worked hard to arrange another full calendar of tournaments throughout the year. Summer Leagues, July/August 2014: Played over nine weeks during the off-season. A total of 48 players formed the regular teams, with more than 50 pool players helping team captains by filling in for absentees. Prizes were given for the winning league team, the winning play-off team, the winning Plate team, Team of the Summer and Convenor of the Summer. Handicap Tournament, September/October 2014: A total of six rounds over five weeks. Julian Tanner beat Mike Shilton in the Cup final. The finals combined with the Perrier International tournament and a shared BBQ evening. Inaugural Captains v Chairman s Challenge Cup, December 2014: Featured 42 players playing a 21-a-side challenge match over three hours. Each player was seeded into a group, with players from each group drawn from a hat to select their team. The Captains team won 15-6, and afterwards, 25 players and guests gathered for a curry dinner. World Cup, January 2015: This featured eight teams, each with eight players. The handicap top scorer was Nathan Chan while the main Cup top scorer was Lawrence Lee. Celts won the handi- 57

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61 [ SECTION REPORTS ] 60 cap category. Europe and Hong Kong finished tied in the Cup for first time ever, but Hong Kong won on a drink-off. Post event drinks were well attended with more than 50 of the 64 players staying for the prize giving. Club Championships, March-May 2015: Men s Open 94 entrants (which required a preliminary round): Cup final: Ho Fai Chiu beat Chad Sunde 3-0; 3rd/4th play-off: Vincent Cheung beat Eric Ho 3-2; Plate final: Julian Tanner beat Eli Bitan 3-1; Bowl final: Jonathan Davidson beat George Chan 3-2 Ladies Open 18 entrants: Cup final: Carmen Lee beat Karen Lau 3-1; Plate final: Renee Wu beat Vivi Thomas 3-0 Men s Masters 50 entrants: Cup final: Chad Sunde beat Lincoln Chan 3-0; Plate final: Eli Bitan beat Kien Ng 3-0 Ladies Masters six entrants: Cup final: Pat Choong beat Emma Duncombe 3-0. Men s Super Masters 32 entrants: Cup final: Hugh Dyus beat James Barrington 3-1; Plate final: Simon Ho beat TK Yeung 3-2. Particular thanks are extended to David Murray for his support with much of the tournament administration. Also thanks to Jamaica Ang of the Club operations team for helping with the many court booking requests and changes. Thanks as well to all who gave up their time to support the events as players, markers or spectators, without which the events would not be as enjoyable or successful Our domestic tournaments were once again superbly run and supported, so my gratitude is extended to all involved with a particular thank you to Jon Pipe for his outstanding efforts. other activities Last November, we again hosted the annual Wing Ding tournament which was arranged by a number of people under the supervision of Tim Everest, supported by a sub-committee from the Squash Section. This was the 16th staging of this event and was part of the South China Morning Post s annual Operation Santa Claus initiative which aims to raise funds for needy charitable causes which do not receive financial support from the government. Many Squash Section members put an incredible amount of work into the event and their labours resulted in raising more than HK$1.2 million dollars. My thanks go to section captains David Cross and Rachel Sutcliffe for their hard work with the league teams, and I would also like to acknowledge the efforts and input of Lee Robinson as treasurer. David Murray has been looking after membership and reports for 295 members, 65 of whom are Sports Preferred, with 227 men and 68 ladies. My thanks to David for his work throughout the year in a role that is very time consuming. I would also like to take this opportunity to thank all those people who have given their time in various ways to assist with the numerous matches, tournaments and events throughout the past 12 months, including those not mentioned from the committee secretary Rob Jones and Marc Meldrum, who has done an excellent job as publicity officer. Also, mentions for Elliot Froidevaux, who stepped down as men s captain in September last year, and Ajay Hazari for his organisation of the ladder. It was always in the back of my mind that four years would be long enough as section chairman and I can confirm I am standing down from the position. In any walk of life, I m a firm believer in passing the baton and giving other people the chance to bring fresh innocence and science to the role. There are so many people to whom I owe so much thanks; I will end simply by expressing my gratitude to everyone and say it has been an honour and privilege to serve the Squash Section and the Club in this role. Adam Wilson Chairman, Squash Section

62 [ FINANCIAL REPORTS ] FINANCIAL REPORTS 61

63 [ FINANCIAL REPORTS ] HONG KONG FOOTBALL CLUB REPORT OF THE GENERAL COMMITTEE The General Committee submits its report together with the audited financial statements of the Hong Kong Football Club (the Club ) for the year ended 31 May principal activities The Club s principal activity is the promotion of rugby, hockey, lawn bowls, soccer, squash and other sporting and leisure activities to its Members and to others, including schools, societies and similar organisations. It also provides social amenities such as food and beverage, meeting and function facilities to its Members and their guests. results 62 The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. The results of the Club for the year are set out in the statement of comprehensive income on page 69. donations Financial contributions to charity made by the Club and its Sections/Associations/Societies as well as groups of members during the financial year amounted to HK$832,536 (2014: HK$353,840). Of this total HK$20,000 (2014: HK$100,000) was directly donated by the Club. general committee members of the club The General Committee Members of the Club during the year and up to the date of report were: Dermot Agnew President John Joseph Shanahan Chairman Nicholas David Hunsworth Vice-President Charles Robert Lawson Vice-President Francis Iain Valentine Vice-President Fook Aun Chew Vice-President Michael John Wood Honorary Secretary Alan Hugh Morgan Honorary Treasurer (appointed on 6 November 2014) David Charles Wilfred Howell Honorary Treasurer (retired on 6 November 2014) Jeffrey Haydn Lane (appointed on 6 November 2014) Michael Billing Worth (appointed on 6 November 2014) Neil Andrew Jensen (appointed on 6 November 2014) Philip Duncan Lewis Woolf Maurice John O Brien Neil Lloyd Roberts Damian Carmelo Babis James William Niehorster Adam Wilson David Anthony Reeves (retired on 6 November 2014) Nicholas Simon Grimshaw (retired on 6 November 2014) Robert Martyn Russell (retired on 6 November 2014) Niccola Luisa Russo (retired on 24 June 2015) In accordance with Article 10.8(A) and (B) of the Club s Articles of Association, all General Committee Members hold office until the next annual general meeting, except the President who holds office for three years, and the Chairman, Honorary Secretary and Honorary Treasurer who hold office for two years. All officers, being eligible, can offer themselves for reelection.

64 [ FINANCIAL REPORTS ] HONG KONG FOOTBALL CLUB REPORT OF THE GENERAL COMMITTEE general committee members material interests in transactions, arrangements or contracts significant to the club s business No transactions, arrangements or contracts of significance in relation to the Club s business to which the Club was a party and in which a General Committee Member had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year. general committee members interests in the shares or debentures of the club or any specified undertaking of the club At no time during the year was the Club a party to any arrangement to enable General Committee Members to hold interests or short positions in the shares or underlying shares in, or debentures of, the Club or its specified undertakings or other associated corporations. management contracts No contracts concerning the management and administration of the whole or any substantial part of the business of the Club were entered into or existed during the year. review of the club s business The Club operates under the Clubs (Safety of Premises) Ordinance Cap.376 and was granted an extension of the Private Recreational Lease for fifteen years from 26 December 2011 to 25 December 2026 on 25 February The Club continues to deliver quality services to Members and their Guests and to facilitate the development and participation of recognised sporting activities aiming to be recognised as one of the leading sports clubs in the world. At the same time certain of our sports facilities are able to be booked (subject to specific booking conditions) by Eligible Outside Bodies including schools, non-governmental organisations, National Sports Associations, uniformed groups and government departments so as to help to promote and develop sports in Hong Kong. The Club achieved another successful year which ended 31 May A record-breaking revenue operation was achieved of HK$203,024,137 of which food and beverage revenue was 54% of the total revenue. The number of food covers from our outlets set another record at 506,434 which is 3% more than was achieved in the last financial year. key performance indices The Club aims to gradually accumulate returns to the Members fund by achieving a reasonable positive return in operations each year so as to establish adequate funds to support the long-term growth of the Club. The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. 63 The principal measure of operating return is the operating profit margin, which is calculated by dividing the Net operating profit before depreciation by Total operating revenue as follows: HK$6,846,589/HK$203,024,137 x 100% HK$7,551,967/HK$180,044,444 x 100% =3.4% =4.2% The other key components of return and how they are measured are: (a) Entrance fees received from Members and Transfer fees received from the party purchasing a Corporate Subscribership on the open market key metrics are set out under Members recruitment and movement below; and (b) Changes in value of financial assets the Club s financial assets are managed by an international fund management group with whom the Club has agreed a target return on investment. The performance of the fund manager against this target is monitored by the Club s Finance Sub-Committee.

65 [ FINANCIAL REPORTS ] HONG KONG FOOTBALL CLUB REPORT OF THE GENERAL COMMITTEE The Club maintains a healthy asset to liabilities ratio to make sure there are adequate funds to meet short term financial obligations, measured principally by the Current Ratio which is calculated by dividing the Current assets by Current liabilities as follows: HK$217,036,561/HK$35,426,871 HK$223,472,547/HK$39,384,445 =6.1 times =5.7 times 64 The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. The Club funds longer term capital expenditure projects by accumulating the Members Fund as mentioned above as well as having the ability to issue new corporate subscriberships when necessary. The Development Sub-committee and Finance Sub-committee work together in this regard to produce integrated development and funding plans for approval by the General Committee. sports participation and promotion The Club being the biggest sports club in Hong Kong participates in many different sports activities including organising a number of large international tournaments including the Rugby Tens, the Soccer Sevens, the International Squash 3 s the Hockey Sixes. In the financial year 2014/15, the Squash Section hosted the very successful World Masters Squash Championships in July 2014 and also organised a PSA/WSA Squash tournament in May These international sports events bring with them a lot of international players from around the world as well as also attracting many overseas visitors who come and enjoy the games together with our Members. At the same time many of our Members compete as individuals or in teams in different leagues organised by recognisable sports associations in Hong Kong. The Club also understands the importance of providing sports training opportunities for youngsters in order to ensure sustained growth in sports activities. There are now around 1,200 children who participate in Junior Rugby at the Club along with some 700 plus children who join in Junior Soccer and nearly 300 children who play Junior Hockey. A large percentage of these children are non-members. Other sporting divisions such as Squash and Netball also provide youth training programmes. members recruitment and movement The Club is the biggest sports club in Hong Kong and provides and promotes a wide variety of sports activities. Members are generally very loyal to the Club and the usage rate of its facilities, including the food and beverage outlets, is high. There has been a continuous net influx of Members over recent years which has escalated the requirement to implement the renovation master plan to upgrade the existing facilities in order to cope with increasing demand as well as to upgrade facilities which are nearly 20 years old. The Club currently has over 3,300 Members. Together with spouses/partners and children, this translates to more than 9,500 potential users of the Club. In 2014/15, there were 132 newly joined Sports Preferred Members, of whom 67 were juniors, that is, under 28 years of age. There are 547 Sports Preferred Members who are under a four year commitment period within their respective Sections/DSA/Societies. 19 Sports Debentures were issued during the year and 19 Accelerated Social Members joined (14 Children of Full Members and 5 ex-corporate Nominees). 67 Temporary Preferred Members converted to Full Membership, with a further 33 Temporary Preferred Members confirmed as Junior Associates. 169 Members resigned and 114 Members took out Absent Membership. A further 42 Members returned to HK and re-activated their memberships on a fulltime basis. Over 800 Absent Members visited the Club and temporarily re-activated their memberships during the period June 2014 to the end of May staff development The Club values the development of its Staff members and puts great effort into retaining quality Staff members in order that they can serve the Club and its Membership. As such, the Club offers a very competitive remuneration package and provides

66 [ FINANCIAL REPORTS ] HONG KONG FOOTBALL CLUB REPORT OF THE GENERAL COMMITTEE continuous learning opportunities for Staff members. The Human Resources Department throughout the past financial year has organised a number of different training programmes for junior and senior Staff members, aimed at improving their skills and knowledge of the club/hospitality industry. The Annual Staff Party is the highlight of the year but at other times Staff members enjoy a variety of trips and outings all with a view to recognising their loyalty to the Club and by way of a thank you for all their efforts in looking to ensure the Club keeps to its Vision as being recognised as one of the leading sports clubs in the world. Staff movement: Number of staff at the beginning of the year Add: New staff joined during the year Less: Staff separation during the year (81) (79) Number of staff at the end of the year environment protection and social responsibility The Club is making a contribution towards protecting the environment by using 100% compostable food service ware and containers for takeaway orders and biodegradable carrying bags for Club purchases. We also look to reduce greenhouse gas emissions by gradually replacing the light bulbs and tubes to LED lights within most of the Club. All new renovation projects take into consideration the code of practice for energy efficiency such as the undergoing Infield Changing Room renovation project where we have engaged an Energy Assessor to review all electrical consumption to make sure it complies with the energy efficiency as specified by the Electrical and Mechanical Services Department. The purpose of replacing the Chiller system later this year is to improve energy efficiency and the sequencing control of the Chiller system such that the operating chillers can meet with the cooling load demand and achieve higher overall performance in the Club Premises. The Club has successfully passed an Energy Audit which was conducted by the Hong Kong Productivity Council in order that the Club complies with the Building Energy Efficiency Ordinance. The Club and a number of the sports Sections regularly make donations to different charitable organisations to support their operations in providing services to those in need. principal risks and uncertainties The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. The Club s approach to financial risk and capital risk management are disclosed in note 4 to the financial statements. 65 From an operational risk perspective, the Club faces uncertainty in operations when the large scale re-development plan goes ahead (for details please refer to the likely future development section). Food and beverage revenue will, unavoidably, reduce during the renovation period whilst the operating costs cannot be reduced proportionally as the Club still requires sufficient Staff members to support operations. The Club will endeavour to control costs without reducing the quality of service to Members. important events after the end of the financial year The Infield Changing Room renovation started in June of this year and installation of a new Chiller system and Transformer Room will start later in the year likely future development A one year operating and capital expenditure budget summary is included on page 84 of this Annual Report. The Club intends to carry out a large scale re-development plan in different phases in order to provide continuous improvement to the Club s facilities. The Infield Changing Rooms renovation project started in June of this year and is

67 [ FINANCIAL REPORTS ] HONG KONG FOOTBALL CLUB REPORT OF THE GENERAL COMMITTEE scheduled to be completed by the end of November. After completion, an impressive modernised facility will be available for Members and international/visiting teams when they come to the Club to participate in sports competitions. The installation of a new Chiller system and a new Transformer Room is also expected to be undertaken in this financial year to improve the efficiency of energy usage within the Club Premises. The first phase of the Second Floor re-development plan as mentioned above is scheduled to start in June All facilities on the Second Floor will be demolished with a new state of the art kitchen installed to support the operation of a new Coffee Shop, Restaurant, VIP Room, Chairman s Bar, Lounge, Lobby area (and toilets), Function Rooms as well as Changing Rooms and a new Food and Beverage Store and Office area. This project is scheduled to take seven months to complete. Prior to completion of the Second Floor renovation, a temporary dining area will be established at the Training Triangle. The Sportsman s Bar will also be opened all day to serve from breakfast time through to closing. 66 The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. Funding options are currently being studied and details will be shared with Members when a plan has been prepared. permitted indemnity provisions At no time during the financial year or up to the date of this General Committee s Report, there was or is, any permitted indemnity provision in force for the benefit of any of the General Committee of the Club (whether made by the Club or otherwise) or an associated company (if made by the Club). auditor The financial statements have been audited by PricewaterhouseCoopers who retire and, being eligible, offer themselves for re-appointment. On behalf of the General Committee Chairman Hong Kong, 21 September 2015

68 [ FINANCIAL REPORTS ] INDEPENDENT AUDITOR S REPORT TO THE MEMBERS OF HONG KONG FOOTBALL CLUB (Incorporated in Hong Kong and limited by guarantee) We have audited the financial statements of Hong Kong Football Club set out on pages 68 to 83, which comprise the balance sheet as at 31 May 2015, and the statement of comprehensive income, the statement of changes in funds and reserves and the statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. general committee s responsibility for the financial statements The General Committee is responsible for the preparation of financial statements that give a true and fair view in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants, and the Hong Kong Companies Ordinance, and for such internal control as the General Committee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. auditor s responsibility Our responsibility is to express an opinion on these financial statements based on our audit and to report our opinion solely to you, as a body, in accordance with section 405 of the Hong Kong Companies Ordinance and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity s preparation of financial statements that give 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 General Committee, as well as evaluating the overall presentation of the financial statements. The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. 67 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. opinion In our opinion, the financial statements give a true and fair view of the financial position of the Club as at 31 May 2015, and of its financial performance and cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards and have been properly prepared in compliance with the Hong Kong Companies Ordinance. PricewaterhouseCoopers Certified Public Accountants Hong Kong, 21 September 2015

69 [ FINANCIAL REPORTS ] BALANCE SHEET As at 31 May Note ASSETS Non-current assets Property, plant and equipment 5 51,971,501 30,333,354 Intangible assets 6 4,815,000 4,815,000 56,786,501 35,148, The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. Current assets Financial assets at fair value through profit or loss 8 184,983, ,538,744 Inventories 9 2,268,881 2,430,253 Debtors and prepayments 10 16,209,397 17,342,640 Cash and cash equivalents 11 13,574,345 35,160, ,036, ,472,547 Total assets 273,823, ,620,901 FUNDS AND RESERVES Members funds ,396, ,236,456 LIABILITIES Current liabilities Creditors, accruals and other payables 13 35,426,871 39,384,445 Total liabilities 35,426,871 39,384,445 Total funds and liabilities 273,823, ,620,901 John Joseph Shanahan Michael John Wood Alan Hugh Morgan Chairman Honorary Secretary Honorary Treasurer The financial statements on pages 68 to 83 were approved by General Committee on 21 September 2015 and were signed on its behalf.

70 [ FINANCIAL REPORTS ] STATEMENT OF COMPREHENSIVE INCOME Year ended 31 May Note Revenue ,024, ,044,444 Income Fees and subscriptions 15 54,001,273 51,705,505 Food and beverage sales ,037, ,926,448 Food and beverage cost of sales 16 (48,708,843) (46,006,483) Food and beverage gross profit 16 60,328,558 54,919,965 Sport Sections/Associations/Societies income 25,610,786 21,950,889 Sport Sections/Associations/Societies expenses (23,411,216) (19,769,218) Sport Sections/Associations/Societies net income 2,199,570 2,181,671 Sports shop sales 2,318,160 2,282,449 Sports shop cost of sales (1,342,516) (1,317,244) Commission income from consignment sales 875, ,378 Sports shop gross profit 1,850,981 1,745,583 Carpark income 11,181,180 10,398,775 Other net income 17 7,217,926 6,768, ,779, ,720,262 Expenditure Administration and general 18 (6,149,716) (5,451,601) Bar, restaurant and sports shop (5,155,573) (4,764,483) Depreciation 5 (7,542,541) (12,353,495) Employee benefit expense 19 (88,203,752) (80,611,578) House and grounds 21 (30,423,858) (29,340,633) (137,475,440) (132,521,790) Operating (deficit) for the year (695,952) (4,801,528) Non-operating income/(expenses) Bank interest income Entrance fees 7,997,000 10,057,650 Unrealised investment gains 22 9,445,194 10,067,580 Management and administrative fee on investment (1,063,915) (931,500) Gain/(loss) on disposals of property, plant and equipment 77,253 (6,349) Transfer fees for corporate subscriberships 3,400,000 5,400,000 Surplus for the year 19,159,735 19,786,435 Other comprehensive income for the year - - The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. 69 Total comprehensive income for the year 19,159,735 19,786,435

71 [ FINANCIAL REPORTS ] STATEMENT OF CHANGES IN FUNDS AND RESERVES Members funds Balance as at 1 June ,450,021 Total comprehensive loss - Surplus for the year 19,786,435 Balances as at 31 May 2014 and 1 June ,236,456 Total comprehensive income - Surplus for the year 19,159,735 Balance as at 31 May ,396, The notes on pages 71 to 83 are an integral part of these financial statements. All amounts in Hong Kong dollars unless otherwise stated. STATEMENT OF CASH FLOWS Year ended 31 May Note Cash flows from operating activities Cash generated from operations 26 4,183,630 13,499,949 Cash flows from investing activities Purchases of financial assets at fair value through profit or loss (20,000,000) - Sales of financial assets at fair value through profit or loss 13,000,000 - Management and administrative fee on investments (1,063,915) (931,500) Proceeds from disposals of property, plant and equipment 285,746 10,000 Purchases of property, plant and equipment 5 (29,389,181) (22,857,281) Interest received Net cash used in investing activities (37,167,195) (23,778,199) Cash flows from financing activities Entrance fees received 7,997,000 10,057,650 Transfer fee for corporate subscriberships 3,400,000 5,400,000 Net cash generated from financing activities 11,397,000 15,457,650 Net (decrease)/increase in cash and cash equivalents (21,586,565) 5,179,400 Cash and cash equivalents at beginning of the year 35,160,910 29,981,510 Cash and cash equivalents at end of the year 11 13,574,345 35,160,910

72 [ FINANCIAL REPORTS ] NOTES TO THE FINANCIAL STATEMENTS 1 General information The Hong Kong Football Club s (the Club s ) principal activity is the promotion of rugby, hockey, lawn bowls, soccer, squash and other sporting and leisure activities to its Members and to others, including schools, societies and similar organisations. It also provides social amenities such as food and beverage, meeting and function facilities to its Members and their guests. The Club is incorporated under the Hong Kong Companies Ordinance and limited by guarantee. The address of its registered office is 3 Sports Road, Happy Valley, Hong Kong. The Club operates in premises situated on land leased from the Government of the Hong Kong Special Administrative Region (the HKSAR ). The previous long lease for the land expired on 25 December 2011 and a series of short term lease extensions were granted to allow the Club to continue to operate since that date. On 25 February 2015, a new lease agreement was signed between the Club and the Government of the HKSAR which grants the Club the right to use the land until 25 December The signing of this new lease resolved certain uncertainties disclosed in recent years annual reports, including the depreciation periods for fixed assets. Under the provisions of the Club s Memorandum of Association, every member shall, in the event of the Club being wound up, contribute to the assets of the Club an amount not exceeding HK$10. At 31 May 2015, the Club had 3,316 (2014: 3,267) members. All amounts in Hong Kong dollars unless otherwise stated. These financial statements are presented in Hong Kong dollars unless otherwise stated. These financial statements have been approved for issue by the General Committee on 21 September Basis of preparation and summary of significant accounting policies The basis and principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 2.1 Basis of preparation The financial statements of the Club have been prepared in accordance with Hong Kong Financial Reporting Standards ( HKFRS ). The financial statements have been prepared under the historical cost convention as modified by the revaluation of financial assets at fair value through profit or loss, which are carried at fair value. Paragraph 4(a) of Part 1 of Schedule 4 requires that the financial statements for a financial year must state whether they have been prepared in accordance with applicable accounting standards within the meaning of section 380. Those accounting standards that are applicable to the financial statements are those as are, in accordance with their terms, relevant to Club s circumstances and to the financial statements. For Hong Kong incorporated companies, the applicable accounting standards are HKFRS, as they are only accounting standards which are issued by the Hong Kong Institute of Certified Public Accountants. The preface to HKFRS (Revised 2015), paragraph 25B makes clear that a Hong Kong incorporated company will be in breach of section 380(4)(b) unless the statutory financial statements of the Club contains an explicit and unreserved statement of compliance with HKFRS as issued by the HKICPA. This statement may be in addition to a statement of compliance with a basis or standard of accounting other than HKFRSs provided the financial statements satisfy the requirements of both accounting frameworks. The preparation of financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Club s accounting policies. The areas involving a higher degree of judgement or complexity, and areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3. (a) New standards, amendments and interpretations to existing HKFRS (collectively, the Amendments ) effective as of 1 June The Hong Kong Institute of Certified Public Accountants has issued a number of new standards, amendments and interpretations to existing HKFRS which were mandatory for the first time for the Club s current accounting period. These Amendments have not had significant impact on the preparation of the Club s financial statements for year ended 31 May 2015 since they are not relevant to the Club s operation. (b) Amendments that are not yet effective and have not been early adopted by the Club Certain Amendments set out below have been published that are mandatory for the Club s accounting periods commencing on or after 1 June 2015 and they have not been early adopted in these financial statements. HKAS 16 and HKAS 38 Amendment Classification of Acceptable Methods of Depreciation and Amortisation 1 HKFRS 9 Financial instruments Financial liabilities 3 HKFRS 15 Revenue from contracts with customers 2 Note: (1) Effective for financial period beginning on 1 January 2016 (2) Effective for financial period beginning on 1 January 2017 (3) Effective for financial period beginning on 1 January 2018 The Club is currently assessing the impact of the adoption of these Amendments and is not yet in a position to state their impact on the Club s results of operations and financial position.

73 [ FINANCIAL REPORTS ] (c) New Hong Kong Companies Ordinance (Cap. 622) The requirements of Part 9 Accounts and Audit of the new Hong Kong Companies Ordinance (Cap. 622) come into operation during the financial year, as a result, there are changes to presentation and disclosures of certain information in the financial statements. (d) Sports Sections/Associations/Societies activities form a significant part of the Club and their income and expenses have become increasingly material in recent years. It is therefore considered appropriate to include their income as part of revenue and to disclose their income and expenses separately instead of grouping them under Other Net Income. Corresponding figures in 2014 were therefore reclassified for comparative purposes. 2.2 Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of the Club are measured using the currency of the primary economic environment in which the Club operates (the functional currency ). The financial statements are presented in Hong Kong dollars, which is the Club s functional and presentation currency. (b) Transactions and balances 72 Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income. 2.3 Property, plant and equipment The assets donated by the Hong Kong Jockey Club were, upon the initial adoption of HKAS 16 in an earlier accounting period, recorded at a cost of nil, in accordance with the transitional provisions of HKAS 16. Property, plant and equipment are stated at historical cost less depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items. 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 Club and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged in the statement of comprehensive income during the financial period in which they are incurred. Leasehold improvements are depreciated to write off their costs less accumulated impairment losses over the unexpired periods of the leases until December 2026 or their expected useful lives to the Club, whichever is shorter. Depreciation of other property, plant and equipment is calculated using the straight-line method to allocate their costs to their residual values over their estimated useful lives, as follows: Computer equipment Furniture, equipment and motor vehicles 3-5 years 3-10 years The assets residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset s carrying amount is written down immediately to its recoverable amount if the asset s carrying amount is greater than its estimated recoverable amount (note 2.5). All amounts in Hong Kong dollars unless otherwise stated. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income. 2.4 Intangible assets Intangible assets represent golf club memberships with indefinite useful lives and are stated at cost less any provision for impairment losses (note 2.5). 2.5 Impairment of non-financial assets Assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment. All assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset s fair value less costs to sell and value in use. Non-financial assets other than goodwill that suffer impairment are reviewed for possible reversal of the impairment at each reporting date. 2.6 Financial assets Classification The Club classifies its financial assets in the following categories: at fair value through profit or loss and loans and receivables.

74 [ FINANCIAL REPORTS ] The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition. (a) (b) Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are financial assets held for trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short-term. Derivatives are also categorised as held for trading unless they are designated as hedges. Assets in this category are classified as current assets if expected to be settled within 12 months, otherwise, they are classified as non-current. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included in current assets, except for the amounts that are to be settled or expected to be settled more than 12 months after the end of the reporting period. These are classified as non-current assets. The Club s loans and receivables comprise debtors and cash and cash equivalents in the balance sheet (notes 2.10 and 2.11) Recognition and measurement Regular purchases and sales of financial assets are recognised on the trade-date - the date on which the Club commits to purchase or sell the asset. Investments are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recognised at fair value, and transaction costs are expensed in the statement of comprehensive income. Financial assets are derecognised when the rights to receive cash flows from the investments have expired or have been transferred and the Club has transferred substantially all risks and rewards of ownership. Financial assets at fair value through profit or loss are subsequently carried at fair value. Loans and receivables are subsequently carried at amortised cost using the effective interest method. All amounts in Hong Kong dollars unless otherwise stated. Gains or losses arising from changes in the fair value of the financial assets at fair value through profit or loss category are presented in the statement of comprehensive income within Investment gains/(losses) in the period in which they arise. Dividend income from financial assets at fair value through profit or loss is recognised in the statement of comprehensive income as part of investment income when the Club s right to receive payments is established. 2.7 Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Club or the counter party. 2.8 Impairment of financial assets carried at amortised cost The Club assesses at the end of each reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a loss event ) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. Evidence of impairment may include indications that the debtor or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganisation, and where observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults. 73 For the loans and receivables category, the amount of the loss is measured as the difference between the asset s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset s original effective interest rate. The carrying amount of the asset is reduced and the amount of the loss is recognised in the statement of comprehensive income. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised (such as an improvement in the debtor s credit rating), the reversal of the previously recognised impairment loss is recognised in the statement of comprehensive income. 2.9 Inventories Inventories are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents the invoiced cost. Net realisable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses Debtors Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collection of receivables is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets.

75 [ FINANCIAL REPORTS ] Debtors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less Creditors and other payables Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors and other payables are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Creditors and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method Employee benefits (a) Retirement benefit costs The Club contributes to a defined contribution retirement scheme and a mandatory provident fund scheme ( MPF ). 74 (i) The HSBC Provident Fund (ORSO) scheme is for employees who joined on or before 30 November The scheme is operated by HSBC Life (International) Limited. (ii) The HSBC Mandatory Provident Fund (MPF) scheme is available to the employees who joined from 1 December The assets of this scheme are managed by HSBC Supertrust. Both schemes are funded by payments from employees and the Club. The Club s contributions to the defined contribution retirement scheme and mandatory provident fund scheme are based on a fixed percentage of the employees basic salaries and relevant income respectively and the Club has no further payment obligations once the contributions have been paid. The Club s contributions to both schemes are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available. (b) Employee leave entitlements Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to the balance sheet date. Employee entitlements to sick leave and maternity leave are not recognised until the time of leave. (c) Bonus plans Bonus payments are recognised as a liability when the Club has a present legal or constructive obligation as a result of services rendered by employees and a reliable estimate of the obligation can be made. Liabilities for bonus plans are expected to be settled within 12 months and are measured at the amounts expected to be paid when they are settled. (d) Long service payments All amounts in Hong Kong dollars unless otherwise stated. Certain of the Club s employees have completed the required number of years of service to the Club and are eligible for long service payments under the Hong Kong Employment Ordinance in the event of the termination of their employment. The Club is liable to make such payments in the event that such termination of employment meets the circumstances specified in the Hong Kong Employment Ordinance. A provision is recognised in respect of the probable future long service payments expected to be made. The provision is based on the best estimate of the probable future payments which have been earned by the employees from their service to the Club to the balance sheet date Revenue and other income recognition Revenue comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of the Club s activities. Revenue is recognised as follows: (a) (b) Subscriptions, carpark income and sports coaching commissions Income is accounted for on an accruals basis. Income from restaurants, bars, the sports shop and other club facilities Income from restaurants, bars, the sports shop and other club facilities is recognised when the service is rendered or the sale effected.

76 [ FINANCIAL REPORTS ] (c) (d) (e) Entrance fees and transfer fees Entrance fees and transfer fees for corporate subscriberships are recognised when the membership/transfer is approved by the General Committee. Interest income Interest income is recognised on a time proportion basis, using the effective interest rate method. Dividend income 2.15 Members funds Dividend income is recognised when the right to receive payment is established. All the income and expenses of these funds are accounted for in the statement of comprehensive income. 3 Critical accounting estimate and judgments The Club makes estimates and assumptions that affect the reported amounts of assets and liabilities within the next financial year. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. All amounts in Hong Kong dollars unless otherwise stated. The Club makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Management determined the estimates useful lives and related depreciation charges for the Club s property, plant and equipment. Management will revise the depreciation charges where useful lives are different to previously estimated, or will write-off or write-down technically obsolete or non-strategic assets that had been abandoned or sold. Capital expenditure is approved based upon full estimated useful lives and on the assumption that the Club s lease will be renewed. However, in accordance with relevant accounting requirements, the Club s capital assets are required to be depreciated over periods which do not extend beyond the current lease term. As described in note 1 to these financial statements, a new lease agreement was signed during the year between the Club and the Government of the HKSAR which grants the Club the right to use the land until 25 December This resolved the uncertainties disclosed in last year s annual report with regard to the going concern basis of preparation of financial statements and depreciation charges for fixed assets. 4 Financial risk and capital risk management 4.1 Financial risk factors The Club s activities expose it to a variety of financial risks. The Club s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Club s financial performance. Risk management is carried out by the finance department in accordance with guidelines provided by the General Committee. (a) (b) (c) Foreign exchange risk Foreign exchange risk arises where future commercial transactions, recognised assets and liabilities are denominated in a currency that is not the Club s functional currency. The Club is not exposed to significant foreign exchange risk, as transactions are substantially all entered into in the functional currency, which is the Hong Kong dollars. As there is no material foreign exchange risk, no sensitivity analysis is provided. Market price risk Market price risk is the risk that the value of a financial instrument will fluctuate as a result of changes in market prices whether those changes are caused by factors specific to the individual instrument or by factors affecting all instruments in the market. By the investment in the Schroder Stable Growth Fund (the Fund ), a fund managed by a substantial international fund management group, the market price risk relating to the Club s financial assets at fair value through profit or loss has been largely delegated to that professional fund manager. The performance of the fund manager is monitored by the Club. The Club investment comprise units of Schroder Stable Growth Fund, which is a mutual fund with underlying positions principally of publicly traded equities and fixed income bonds across global markets. As at 31 May 2015, if the price of equities and fixed income bonds held by the fund had been higher/lower by 10% (2014: 10%) with all other variables held constant, the Club s surplus for the year and net assets would have increased/decreased by HK$18,498,394 (2014: HK$16,853,874). Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge its obligation and cause the other party to incur a financial loss. 75

77 [ FINANCIAL REPORTS ] The Club has exposures to credit risk, which is the risk that a counter party will be unable to pay amounts in full when due. Credit risk arises from debtors and deposits with banks of HK$27,051,060 (2014: HK$47,999,678). In respect of receivables from its members, the Club has policies in place for the control and monitoring of its credit risk. In the opinion of the General Committee members, the credit risk is considered to be low. Overdue member debtors and other receivables are disclosed in note 10. The credit risk on liquid funds is limited because the counter party is a reputable and creditworthy bank with good credit ratings rated by independent rating parties. The maximum exposure to credit risk is represented by the carrying amount of each financial asset on the balance sheet. (d) Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash. The Club ensures that it maintains sufficient cash and bank balances, which are available to meet its liquidity. The table below analyses the Club s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months approximate their carrying values, as the impact of discounting is not significant Less than one year Creditors, accruals and other payables (note 13) 25,450,490 32,927,911 (e) Cash flow and fair value interest rate risk Apart from the bank balances which earn interest at market rates, the Club has no other significant interest-bearing assets and liabilities, and its income and operating cash flows, which are mainly funded by receipts from members, are substantially independent of changes in market interest rates. Accordingly, the General Committee Members are of the opinion that the Club does not have significant cash flow and fair value interest rate risk and no sensitivity analysis is presented. 4.2 Capital risk management The Club s objectives when managing capital are to safeguard the Club s ability to continue as a going concern in order to procure adequate financial resources from the members and to adjust the level of its investments. The Club s overall strategy remains unchanged from prior years. 4.3 Fair value estimation The table below analyses financial instruments carried at fair value by valuation method. The different methods of valuation are defined as follows: (a) (b) Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). The Fund is authorised by the Hong Kong Securities and Futures Commission and is daily traded, with market price publicly disclosed. Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). (c) Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). All amounts in Hong Kong dollars unless otherwise stated. The following table analyses on this basis the Club s financial assets and liabilities measured at fair value at 31 May 2015 and Level Assets Financial assets at fair value through profit or loss (note 8) 184,983, ,538,744 The fair value of financial instruments traded in active markets are based on quoted market prices at the balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm s length basis. The quoted market price used for financial assets held by the Club is the current bid price. The Club carried no financial instruments at fair values assessed using level 2 or level 3 methodologies at 31 May 2015 or Offsetting financial assets and financial liabilities No disclosure of the offsetting of financial assets and financial liabilities is made as there are no netting arrangements in place during the year.

78 [ FINANCIAL REPORTS ] 5 Property, plant and equipment Project in progress Leasehold improvements Furniture, equipment and computers Motor vehicles At 1 June 2013 Cost - 113,426,266 77,847, , ,829,209 Accumulated depreciation - (107,653,247) (63,976,804) (353,241) (171,983,292) Net book amount - 5,773,019 13,871, ,723 19,845,917 Year ended 31 May 2014 Opening net book amount - 5,773,019 13,871, ,723 19,845,917 Additions 1,458,260 2,115,396 19,283,624-22,857,280 Disposals - - (16,349) - (16,349) - Cost - - (936,907) - (936,907) - Accumulated depreciation , ,558 Depreciation - (5,094,302) (7,191,951) (67,241) (12,353,494) Closing net book amount 1,458,260 2,794,113 25,946, ,482 30,333,354 Total All amounts in Hong Kong dollars unless otherwise stated. At 31 May 2014 Cost 1,458, ,541,662 96,194, , ,749,583 Accumulated depreciation - (112,747,548) (70,248,199) (420,482) (183,416,229) Net book amount 1,458,260 2,794,114 25,946, ,482 30,333,354 Year ended 31 May 2015 Opening net book amount 1,458,260 2,794,114 25,946, ,482 30,333,354 Additions 8,238,262 9,202,771 11,573, ,000 29,389,181 Transfer (1,458,260) 1,458, Disposals - - (208,493) - (208,493) - Cost - (54,569) (605,077) (286,000) (945,646) - Accumulated depreciation - 54, , , ,153 Depreciation - (506,901) (6,882,461) (153,179) (7,542,541) Closing net book amount 8,238,262 12,948,244 30,428, ,303 51,971,501 At 31 May 2015 Cost 8,238, ,148, ,162, , ,193,118 Accumulated depreciation - (113,199,880) (76,734,076) (287,661) (190,221,617) Net book amount 8,238,262 12,948,244 30,428, ,303 51,971, Under the terms of the Development Agreement between the Club and the Hong Kong Jockey Club dated 21 May 1993, the clubhouse and a substantial portion of the fixtures and fittings were contributed by the Hong Kong Jockey Club and are accounted for at nil cost. The General Committee is not aware of the cost of the contributed assets. The clubhouse and the associated structures was valued at HK$615 million by Knight Frank Petty Limited as at 1 August Intangible assets Intangible assets comprise ten golf club revolving memberships in Lotus Hill Golf Resort in the People s Republic of China and one golf club membership allowing eight member privileges in the Macau Golf and Country Club in Macau. These are stated at cost as follows: Lotus Hill Golf Resort 3,000,000 3,000,000 Macau Golf and Country Club 1,815,000 1,815,000 4,815,000 4,815,000

79 [ FINANCIAL REPORTS ] 7 Financial instruments by category The Club s financial instruments comprise the following: Assets at fair value through the profit or loss Loans and receivables Total Financial assets At 31 May 2015 Financial assets at fair value through profit or loss (note 8) 184,983, ,983,938 Debtors (note 10) - 13,526,215 13,526,215 Cash and cash equivalents (note 11) - 13,574,345 13,574, ,983,938 27,100, ,084,498 At 31 May 2014 Financial assets at fair value through profit or loss (note 8) 168,538, ,538,744 Debtors (note 10) - 12,874,268 12,874,268 Cash and cash equivalents (note 11) - 35,160,910 35,160, ,538,744 48,035, ,573,922 Other financial liabilities at amortised cost Financial liabilities At 31 May 2015 Creditors, accruals and other payables (note 13) 25,450,490 At 31 May 2014 Creditors, accruals and other payables (note 13) 32,927,911 8 Financial assets at fair value through profit or loss Schroder Stable Growth Fund 184,983, ,538,744 Changes in fair value of financial assets at fair value through profit or loss are recorded in non-operating expenses in the statement of comprehensive income. The fair value of the fund is based on its current bid price issued by the Fund s administrator. All amounts in Hong Kong dollars unless otherwise stated. The carrying amount of financial assets at fair value through profit or loss is denominated in Hong Kong dollars. 9 Inventories Consumables and Club shop stock 2,268,881 2,430,253 The cost of inventories recognised as expenses and included in cost of goods sold amounted to HK$50,051,359 (2014: HK$47,323,726).

80 [ FINANCIAL REPORTS ] 10 Debtors and prepayments Member debtors 12,352,826 11,459,292 Less: Provision for impairment (59,399) (59,399) Member debtors net 12,293,427 11,399,893 Sundry debtors 1,232,788 1,474,375 Debtors 13,526,215 12,874,268 Prepayments 2,683,182 4,468,372 16,209,397 17,342,640 The carrying value of debtors and prepayments approximates their fair value at 31 May 2015 and 2014 and is denominated in Hong Kong dollars. All amounts in Hong Kong dollars unless otherwise stated. As at 31 May 2015, member debtors of HK$685,359 (2014: HK$486,371) were past due but not considered impaired. These relate to a number of independent members for whom there is no recent history of default. Based on past experience, management believes that no impairment allowance is necessary in respect of these balances as there has not been a significant change in credit quality and the balances are still considered fully recoverable. The Club does not hold any collateral over these balances. The ageing of these member debtors is as follows: Past due but not impaired Up to 90 days 682, ,429 Over 90 days 2,852 2, , ,371 As of 31 May 2015 and 2014, member debtors of HK$59,399 (2014: HK$59,399) were considered impaired. The amount of the provision established was HK$59,399 as of 31 May 2015 (2014: HK$59,399). The ageing of these debtors is as follows: Ageing of impaired trade receivables Over 90 days 59,399 59,399 During the year, debtors of HK$Nil (2014: HK$30,121) were directly written off as bad debts. Debtors and prepayments other than member debtors do not contain assets which are viewed by management as impaired. 79 The maximum exposure to credit risk at the reporting date is the fair value of each class of debtors mentioned above. The Club does not hold any collateral as security. 11 Cash and cash equivalents Bank balances, maximum exposure to credit risk 13,524,845 35,125,410 Cash in hand 49,500 35,500 13,574,345 35,160,910 Cash and cash equivalents are denominated in Hong Kong dollars. 12 Members funds Within Members funds are amounts of HK$15,312,268 (2014: HK$12,690,879) which have been allocated to the Club s sports Sections, associations or societies. The use of these funds is determined by the relevant sports section, association or society within the framework of the Club s overall policies and procedures.

81 [ FINANCIAL REPORTS ] 13 Creditors, accruals and other payables Creditors and other payables 19,102,054 26,255,726 Accruals 6,348,436 6,672,185 Financial liabilities 25,450,490 32,927,911 Provision for long service payment and unutilised annual leave 1,621,007 1,149,000 Entrance fees and other income received in advance 8,355,374 5,307,534 35,426,871 39,384,445 The carrying values of creditors, accruals and other payables approximate their fair values at 31 May 2015 and 2014 and are denominated in Hong Kong dollars. 14 Revenue Subscriptions 50,945,500 49,424, Temporary members subscriptions 2,512,173 1,740,200 Other fees (includes absent memberships fees) 543, ,470 Food and beverage operations 109,037, ,926,448 Sports Sections/Associations/Societies income 25,610,786 21,950,889 Sports shop operations 3,193,497 3,062,827 Carpark income 11,181,180 10,398, ,024, ,044, Fees and subscriptions Subscriptions 50,945,500 49,424,835 Temporary members subscriptions 2,512,173 1,740,200 Other fees (includes absent memberships fees) 543, ,470 54,001,273 51,705, Food and beverage sales and cost of sales Beverage sales 24,226,364 22,082,003 Beverage cost of sales (7,912,393) (7,139,367) All amounts in Hong Kong dollars unless otherwise stated. Beverage gross profit 16,313,971 14,942,636 Food sales 67,719,109 63,431,519 Food cost of sales (29,166,718) (28,274,442) Food gross profit 38,552,391 35,157,077 Other food and beverage sales (including sales counter, wine delivery, cigarettes, corkage and banners, etc) 17,091,928 15,412,926 Other food and beverage cost of sales (11,629,732) (10,592,674) Other food and beverage gross profit 5,462,196 4,820,252 Food and beverage gross profit 60,328,558 54,919,965

82 [ FINANCIAL REPORTS ] 17 Other net income Income Sports coaching commissions 3,255,959 2,805,617 Racebox rental 433, ,430 Meeting room and facilities rental 1,789,927 1,975,198 Video/book library income 1,079,689 1,077,314 Others 1,390,626 1,243,264 7,949,871 7,787,823 Expenses Racebox rental (491,945) (659,045) Video/book library expenses (240,000) (360,015) (731,945) (1,019,060) Other net income 7,217,926 6,768,763 All amounts in Hong Kong dollars unless otherwise stated. 18 Administration and general expenditure Auditor s remuneration - Audit service 327, ,500 - Non-audit service 12,000 13,500 Bad debts written off - 30,121 Club magazine 292, ,166 Computer and equipment maintenance 760, ,912 Entertainment 130, ,033 General (includes licence fees, transportation costs) 1,256,495 1,178,628 Insurance 1,033, ,432 Legal and professional fees 506, ,208 Printing, stationery and postage 768, ,847 Reversal of provision for impairment of debtors - (7,601) Social functions 216, ,984 Staff activities 109, ,485 Staff annual party expenses 400, ,761 Staff recruitment 207, ,210 Staff training 128, ,415 6,149,716 5,451,601 81

83 [ FINANCIAL REPORTS ] 19 Employee benefit expense Wages and salaries 80,590,632 73,804,905 Pension fund contributions 3,348,340 2,938,456 Others (includes staff meals and medical insurance) 4,264,780 3,868,217 88,203,752 80,611,578 Analysis of salaries and related expenses by department: Bars and restaurants 45,239,870 40,723,330 House and grounds 27,411,044 25,398,312 Administration and general 14,384,258 13,517,294 Sports shop 1,168, ,642 88,203,752 80,611,578 Number of employees (excluding General Committee Members): Annual benefits (including overtime) of employees fall into the following bands: 82 HK$0 - HK$500, HK$500,001 - HK$1,000, HK$1,000,001 - HK$1,500, HK$1,500,001 - HK$2,000, HK$2,000,001 - HK$2,500, As at 31 May Benefits and interests of General Committee Members (disclosures required by section 383 of the Hong Kong Companies Ordinance (Cap.622) and Companies (Disclosure of Information about Benefits of General Committee Members) Regulation (Cap.622G) (a) General Committee Members emoluments None of the General Committee Members, who are considered as key management of the Club, received or will receive any fees or other emoluments in respect of their services to the Club during the year (2014: nil). (b) General Committee Members retirement benefits and termination benefits None of the General Committee Members received or will receive any retirement benefits or termination benefits during the year (2014: nil). (c) Consideration provided to third parties for making available General Committee Members services During the year ended 31 May 2015, the Club does not pay consideration to any third parties for making available General Committee Members services (2014: nil). (d) Information about loans, quasi-loans and other dealings in favour of General Committee Members, bodies corporate controlled by and entities connected with such General Committee Members All amounts in Hong Kong dollars unless otherwise stated. (e) As at 31 May 2015, there are no loans, quasi-loans and other dealing arrangements in favour of General Committee Members, bodies corporate controlled by and entities connected with such General Committee Members (2014: nil). General Committee Members material interests in transactions, arrangements or contracts No significant transactions, arrangements and contracts in relation to the Club s business to which the Club was a party and in which a director of the Club had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year (2014: nil). 21 House and grounds expenditure Cleaning 2,082,148 1,682,033 Electricity, gas and water 13,696,054 13,324,023 General (includes linen, towel and uniform expenses) 1,319,854 1,395,188 Rent and rates 3,028,333 2,878,800 Repairs and maintenance 10,297,469 10,060,589 30,423,858 29,340,633

84 [ FINANCIAL REPORTS ] 22 Investment gains Unrealised investment gains 9,445,194 10,067, Taxation The Club is exempt from Hong Kong profits tax under Section 24 (1) of the Inland Revenue Ordinance. 24 Capital commitments Capital commitments for property, plant and equipment Contracted but not provided for 7,104,396 4,555,390 Authorised but not contracted for 2,508,500 1,417,400 9,612,896 5,972,790 All amounts in Hong Kong dollars unless otherwise stated. Authorised capital commitments at 31 May 2015 represent the budgeted re-development costs of the clubhouse and sports facilities and the budgeted capital expenditure for the financial year 2015/ Banking facility The Club has an unsecured corporate cards facility of HK$600,000 (2014: HK$600,000). No facility utilised by the club as a 31 May 2015 and Cash generated from operations Operating deficit for the year (695,952) (4,801,528) Adjustments for: - Depreciation 7,542,541 12,353,495 - Bad debts written off - 30,121 - Reversal of provision for impairment of debtors - (7,601) Changes in working capital: - Inventories 161,372 (112,323) - Debtors and prepayments 1,133,243 (1,302,148) - Creditors, accruals and other payables (3,957,574) 7,339,933 Cash generated from operations 4,183,630 13,499, In the statement of cash flows, proceeds from disposal of property, plant and equipment comprise: Net book amount (Note 5) 208,493 16,349 Gain/(loss) on disposals of property, plant and equipment 77,253 (6,349) Proceeds from disposals of property, plant and equipment 285,746 10,000

85 [ FINANCIAL REPORTS ] OPERATING BUDGET Budget 2015/2016 (HK$ 000) Actual 2014/2015 (HK$ 000) Budget 2014/2015 (HK$ 000) INCOME Sales 121, , ,579 Cost of sales (53,216) (50,051) (49,511) Gross profit 68,540 62,180 58,068 Subscriptions 56,811 54,001 53,730 Other income 13,821 21,020 18,655 Total income 139, , ,453 EXPENDITURE Salaries and related expenses 91,319 87,248 86, House and grounds 30,337 30,424 28,768 Administration and general 6,787 6,150 6,275 Bars and restaurants and sports shop 5,354 5,156 4,508 Sports Sections 1,431 1,378 1,287 Total expenditure 135, , ,362 Surplus before depreciation 3,944 6,847 3,091 Depreciation (9,780) (7,543) (10,174) Deficit after depreciation (5,836) (696) (7,083) Entrance fees 7,834 7,997 8,026 Investment and interest income 13,907 9,445 11,299 Investment Management Fee (907) (1,064) (1,020) Gain/(loss) on disposal of fixed assets Transfer fees for corporate subscriberships 1,600 3,400 2,000 Surplus for the year 16,598 19,160 13,222 CAPITAL EXPENDITURE BUDGET All amounts in Hong Kong dollars unless otherwise stated. Administrative & general 2,185 1,366 2,868 Food & beverage 1,726 1,043 4,391 Sports 1, ,350 Engineering 4,300 1,854 6,185 Housekeeping 1, Other operating departments 3,080 1,146 2,021 13,552 6,378 18,291 Prospective re-development projects 41,000 14,773 18,000 54,552 21,151 36,291

86 3 Sports Road, Happy Valley, Hong Kong tel: fax: web: design + production: ASIAWIDE MEDIA photography: AJL PHOTOGRAPHY