We will have to disagree here, I’m in the belief that in any business you lead from the top and you do what you can to make sure the business keeps on thriving from development of youth, to working with golf clubs / schools, this will hopefully ensure good quality coming through and making the business more attractive to sponsors etc.
What the hell has that got to do with its charitable status, or where the funds are eventually distributed to.
I read it as they can play in the DP events, but not the co-sanctioned events and end of year points qualifying things. So likely the lower value events.
Read the 2nd sentence of the description!
All the interesting bits like 'Why?' 'Who?', 'How much?', 'How will this affect Golf?'
All depends what one considers 'interesting'!
Specialist Par 3 player?
balance sheet shows position, the Income statement shows performance.
I guess it could be the accumulated funds from the previous years, if you look carefully you’ll see that on line 4 it says “Net assets or fund balances at beginning of year” and this 1.15b comprises the bulk of the 1.2b. Of the income figure, 95% has been paid out as expenses, leaving less than 5% to be retained and carried over to reserves. It would be foolish not to do so, thereby creating over time a healthy balance to be used in emergencies, unforeseen situations, etc.
Possibly, although it depends on the accounting method. A pure cash transactions basis would show a healthy situation and balance, but an accruals basis would show a healthy bank figure but also a liability for ‘prepayments’ which pertain to the upcoming year and therefore a lower nett balance.
