Famous sporting club adopts RAM to meet FRS 15

Hurlingham Club selects RAM to meet new asset management requirements under FRS 15

The Hurlingham Club, a private members club based on a 42 acre site in the heart of Fulham, West London, has selected RAM after a decision by its Committee to adopt new accounting standards under FRS 15.

The Club, which has over 12,000 members, is best known for its tradition of country sporting pursuits. Founded in 1870, by the entrepreneur Frank Heathcote, the estate was originally formed as his 'agreeable country resort'.

In the late nineteenth century The Prince of Wales, (later to become King Edward VII) became a keen patron of the club and ensured its status as one of the finest private members clubs in the Capital.

Historically, the club, which is run by its members through an elected Committee, had no formal asset management policy, preferring to write-down assets as and when they acquired them. An extensive refurbishment programme and large capital investment in new leisure facilities prompted the committee to look at the on-going investment in assets and the way they were managed.

"Our auditors were keen for us to adopt FRS 15 and implement a system which would give us proper control of our assets," said David Remington, the Club's Assistant Secretary & Finance Manager. "Our general ledger supplier, Exchequer, recommended RAM as the specialist in this field."

"When I initially saw the RAM system I was surprised by just how simple it was to use. I had envisaged a specialist system to be very complex and require a lot of time to master. Everything was very straightforward - detailed information was easy to access through the asset tree viewer and reporting is all done at the touch of a button", added Remington.

Phase one of the implementation, which will begin in early 2002, will be to provide the club with a detailed register of the location, condition and manager of all the assets and inventory items across the estate. Details will be collected electronically using the latest hand-held PC devices.

"Detailed information was easy to access through the asset tree viewer"

"Our existing asset records are not suitable to transfer to a new system," commented Remington, "The club really needs to start again and gather as much detail on our assets as possible. The use of hand-held data capture units are essential across a 42 acre site. Whilst building a comprehensive asset register is our first priority, the ongoing management of assets across the estate is also important. That's why we will be using bar-codes to reduce the amount of time we spend auditing and updating the register."

The completed system will provide the club with a centralised register of all assets including gardens, grounds and maintenance equipment, IT and gym equipment, together with details on all the plant and machinery and a digitised record of works of art housed at the club. The register will then be used to provide regular updates to the relevant managers of the assets and inventory items under their control.

"The RAM system will also be invaluable in helping us to plan and monitor the next phase of development at the club - a multi-million pound development to the house and grounds which is due to start next year," concluded Remington.