The age-old art of bartering was brought bang up to date this week when Waterstock Golf Club hosted a national golf day for Bartercard.

Golf club manager Andrew Wyatt is an enthustiastic exponent of the Bartercard system, where businesses buy and sell surplus items with "trade pounds".

Mr Wyatt said: "It is extremely popular in Australia and it is taking off here now. You can put your excess capacity to good use and buy things in return.

Mr Wyatt, left, with Mike Timoney, of Bartercard, and another Bartercard member, Jeremy Young, of solicitors Baily Gibson.

"You pay VAT as in normal business systems. We are turning over £70,000 a year using Bartercard. It saves us a huge amount because once the t

ll businesses. Suppose someone buys a set of clubs with trade pounds. We get credited, less five per cent which goes to Bartercard, and use the trade pounds to buy printing, furniture, etc.

"We even used it to buy the big sign saying Waterstock Golf Club."