Registered Charity: 1097968
SHEPHERDS BUSH CRICKET CLUB
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
SHEPHERDS BUSH CRICKET CLUB
INDEX TO THE FINANCIAL STATEMENTS
| Page | |
|---|---|
| Reference and administration information | 1 |
| Report of the trustees | 2 – 5 |
| Independent Examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 – 16 |
SHEPHERDS BUSH CRICKET CLUB
REFERENCE AND ADMINISTRATION INFORMATION
| Charity name | Shepherds Bush Cricket Club | Shepherds Bush Cricket Club |
|---|---|---|
| Registered charity number | 1097968 | |
| Trustees | A. Langley | Chairman of Trustees and President |
| D. Colbeck | ||
| B. Partridge | ||
| D. Perrin | ||
| W. Speer | ||
| J. Jaspal | ||
| Principal Address | 38 Bromyard Avenue | |
| Acton | ||
| London | ||
| W3 7BP | ||
| Independent Examiner | A. J. Bell | |
| Mercer & Hole LLP | ||
| Chartered Accountants | ||
| Trinity Court | ||
| Church Street | ||
| Rickmansworth | ||
| Hertfordshire | ||
| WD3 1RT | ||
| Bankers | HSBC Bank Plc | |
| PO Box 260 | ||
| 46 The Broadway | ||
| Ealing | ||
| London | ||
| W5 5JR |
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SHEPHERDS BUSH CRICKET CLUB
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees submit their annual report and financial statements of Shepherds Bush Cricket Club for the year ending 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out on pages 9-11 and comply with the Trust Deed and the applicable law.
Structure, governance and management
The trust is governed by its constitution, adopted on 31 July 2002, and as subsequently amended.
Details of the trustees who served during the year are set out on Page 1 and below. The trustees comprise professionals with appropriate skills to properly manage the trust assets and apply those assets in accordance with the Trust Deed, given their knowledge of the local area.
Any changes in trustees are subject to formal approval by all trustees in office.
Objectives and activities
The objective of the charity is to promote community participation in healthy recreation by providing facilities for playing men’s and women’s cricket and other sports.
Organisation
The charity is administered by an Executive committee comprising an elected President, Executive Chair, General Manager and Treasurer, plus other core members as required.
The Executive committee meets 8 times a year to review the charity’s finances and activities. These reviews involve detailed consideration of financial, operations and sports progress reports. Executive committee meetings adopt an open forum format and majority voting passes all decisions.
The members of the Executive committee are elected by the members at the Annual General Meeting. When electing these officers, consideration is given to their ability to enhance the operation of the charity as a whole.
Trustees
The trustees who served during the year were as follows:
A Langley Chairman of Trustees and President B Partridge D Colbeck D Perrin W Speer J Jaspal
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SHEPHERDS BUSH CRICKET CLUB
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
(continued)
Cricket in 2022
In 2022, we continued to run four Saturday adult men's teams, as well as a Sunday side. Our adult women's team enjoyed their 2nd full season and continued to grow with vigour, and will enter their first formal league in 2023.
The 1st XI enjoyed another superb season in the Middlesex County Premier League finishing a new record 2nd in the league, amassing 125 points. The target is firmly set on a debut Championship.
The 2nd XI finished 4th once again in their Premier Division in 2022.
The 3rd XI finished 5th in Division One of the Third Tier. Promotion to their Premier Division remains elusive.
The 4th XI once again finished 4th in Division 4B of the Third Tier.
The Colts section membership has increased slightly to around 240 boys and girls. The boys had mixed success across five age groups - U10’s, U11’s, U12’s, U13’s and U15’s. The girls section continues to grow and were able to field teams across U11 and U15 age groups. A third age group for girls will be added in 2023.
Graham Boxall spent his first year as Groundperson following the retirement of Tim Howard after 10 years of service. Graham integrated brilliantly into life at the Club and produced some fantastic playing surfaces in what was a hot, dry summer.
Junior football in 2022/23
Another very dry summer continued to cause damage to the outfield, despite treatment, so no football took place in ‘22/23. It is unclear when we will resume.
Financial review – 2022 compared to 2021
Income – adult subscription income was comparable to 2021, and junior subscriptions increased by 10%. Donations were much reduced with only the ECB Crowdfunder matching scheme contributing significantly (£3.4k). The final local authority grant (£2.7k) was received for post-COVID restart, and one other grant for £1k meant that grant income reduced by £31k. We received a small residual payout for Business Interruption insurance, and this was £14k less than 2021.
Recognising the impending shortfalls, the Executive organised a busy Social programme, including a Gala dinner which produced £6k surplus; most of the benefits from this arose within the Social club, which with a full year of trading was able to contribute £17k from net profits.
Overall, income was down by 37%, mainly due to the ending of COVID support.
Direct expenditure – the main expenditure in 2022 was the uninsured cost of repairing the clubhouse roof, caused by water and storm damage, a total of around £42k. Electricity and utilities costs reflected much higher prices, and contributions to the junior and womens’ sections reflected our continuing drive to grow these sections.
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SHEPHERDS BUSH CRICKET CLUB
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
Overall, expenditure increased by over 50%.
We incurred a deficit in the year of £ 26.1k. This was manageable within our reserves, but is not a sustainable position. Reserves remain sufficient to cover known risks, but we need to return to a small surplus in 2023. There will be inflation cost pressures to manage to achieve that.
There was one item of Capital expenditure in the year - £9.5k for a mower.
Lease
Our lease expires in April 2033. Our immediate landlord, W3 Club, is considering their position with regard to re-opening their leisure centre which has been closed since November 2020. Their lease expires at the same time as ours, and they have attempted, unsuccessfully, to assign their lease. They have secured a 5-year lease extension from their landlords, and we are negotiating to achieve the same extension.
Risk management
The trustees regularly review the major risks to which the charity is exposed, and systems and controls are in place to mitigate those risks. Public Liability insurance is in place to cover any potential exposure up to £10,000,000.
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to Charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue on operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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SHEPHERDS BUSH CRICKET CLUB
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
(continued)
Reappointment of Independent Examiners
The charity's independent examiner, Mercer & Hole, incorporated on 1 October 2022 to become Mercer & Hole LLP. The trustees have consented to treating the incorporation of Mercer & Hole LLP as a continuation of the existing independent examination arrangement and in accordance with the charity's articles, a resolution proposing that Mercer & Hole LLP be reappointed as independent examiner of the charity will be put at a General Meeting.
24 - 08 -23 Signed by order of the trustees on …………………...
………………………………….. BRIAN PARTRIDGE
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SHEPHERDS BUSH CRICKET CLUB
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2022
| INCOME Voluntary income: Subscriptions Donations, fundraising and sponsorship Sundry income Government Grants Income from other trading activities: Ground and hall hire Investment income: Bank interest receivable Insurance income: Business interruption insurance recovery TOTAL INCOME EXPENDITURE Costs of charitable activities: Costs in furtherance of charitable objects TOTAL EXPENDITURE NET (EXPENDITURE) / INCOME AND NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
Unrestricted Total Total funds funds funds Notes 2022 2022 2021 £ £ £ 39,295 39,295 35,615 36,356 36,356 35,428 478 478 (875) 3,667 3,667 34,598 16,525 16,525 9,348 318 318 20 1,521 1,521 15,552 _ _ _____ 98,160 98,160 129,686 _ _ _____ 4 124,334 124,334 81,178 _ _ _____ 5 124,334 124,334 81,178 _ _ _____ (26,174) (26,174) 48,508 219,039 219,039 170,531 _ _ ____ 9 192,865 192,865 219,039 _ _ _____ _ _ _____ |
|---|---|
All income and expenditure in the current and comparative year was unrestricted.
The notes on pages 9 to 16 form part of these accounts.
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SHEPHERDS BUSH CRICKET CLUB
BALANCE SHEET
As at 31 December 2022
| Notes | 2022 | 2021 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| FIXED ASSETS | |||||
| Tangible assets | 6 | 39,801 | 34,200 | ||
| CURRENT ASSETS | |||||
| Debtors | - | - | |||
| Cash at bank and in hand | 153,164 | 184,839 | |||
| __ | __ | ||||
| 153,164 | 184,839 | ||||
| CREDITORS: Amounts falling | |||||
| due within one year | 7 | (100) | - | ||
| __ | __ | ||||
| NET CURRENT ASSETS | 153,064 | 184,839 | |||
| ___ | __ | ||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 192,865 | 219,039 | |||
| ___ | __ | ||||
| ___ | __ | ||||
| TOTAL FUNDS OF THE CHARITY | |||||
| Restricted funds | - | - | |||
| Unrestricted funds | 10 | 192,865 | 219,039 | ||
| ___ | __ | ||||
| Total funds | 192,865 | 219,039 | |||
| _ _ |
_ _ |
24-08-23
These financial statements were approved by the members of the committee on …………….. and signed on their behalf by:
…………………………………….
BRIAN PARTRIDGE
The notes on pages 9 to 16 form part of these accounts.
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
1. ACCOUNTING POLICIES
General information and basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
Shepherds Bush Cricket Club is a charity in England. The nature of the charity’s operations and principal activities are detailed in the report to trustees on pages 2-5.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Income
Donations are recognised in the year in which the charity is entitled to and certain of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future year. Gift aid is added to the value of the donation to which it relates.
No amount is included in the financial statements for volunteer time in line with the SORP 2019 (FRS 102).
Donated services are recognised as income and expenditure in the financial statements when organisations or individuals offer their services and support pro bono. The value of these donated services to Shepherds Bush Cricket Club is considered to be equal to market value which would be paid were the service formally procured. This includes services paid for by other trusts.
Investment income is accounted for on a receivable basis.
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
ACCOUNTING POLICIES (CONTINUED)
Expenditure
Expenditure is included on an accruals basis. Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Charitable activities comprise those costs directly attributable to the fulfilment of the charitable objects.
Governance costs comprise all costs involving the public accountability of the charity and costs related to statutory requirements.
Support costs have been allocated between governance costs and other support costs. Governance and support costs are allocated to charitable activities on the basis of capacity used.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:
Depreciation is provided on all tangible assets at rates calculated to write off the full cost of an amount over its estimated useful life as follows:
Pavilion buildings - 5% on cost Plant and machinery - 25% on cost
Taxation
Shepherds Bush Cricket Club is a registered charity and is not liable to United Kingdom income or corporation tax on charitable activities, provided income falls within the charitable exemptions and is spent on charitable purposes.
Funds
The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the charity’s charitable objects.
Restricted funds arise from donations to the trust which are made for a specific purpose. Restricted funds can only be used for the purpose for which funds were given.
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
ACCOUNTING POLICIES (CONTINUED)
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or less unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believed that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Judgements and key sources of estimation uncertainty
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
The charity depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on expectations about future use and therefore requires estimates and assumptions to be applied by the trustees. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.
Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value, the trustees aim to assess the amount that the charity would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.
2. Trustees’ expenses
Shepherds Bush Cricket Club relies entirely on volunteers to carry out the management and administration. And as such, no Trustees received any remuneration or other benefits from an employment with the charity and no Trustees were reimbursed for expenses (2021 - None).
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
3. Wages and salaries
There are no employees (2021 - None).
4. COSTS IN FURTHERANCE OF CHARITABLE OBJECTS
| Provision of charitable services: Direct costs Management and administration costs Governance costs Analysis of provision of charitable services: Charitable expenditure Direct costs Management and administration costs Sundry expenses Governance costs Accountancy fees Total charitable expenditure __ Management and administration costs: Sundry expenses |
Total funds 2022 £ 122,234 240 1,860 _ 124,334 _ __ Staff Other Costs Costs £ £ - 122,234 - 240 - 1,860 __ _ - 124,334 _ _ _ Total 2022 £ 240 _ 240 __ ______ |
Total funds 2021 £ 77,912 1,696 1,570 _ 81,178 _ _ Total Total 2022 2021 £ £ 122,234 77,912 240 1,696 1,860 1,570 _ 124,334 81,178 _ _ _ _ Total 2021 £ 1,696 _ 1,696 _ _ |
|---|---|---|
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
5. EXPENDITURE
EXPENDITURE |
|||
|---|---|---|---|
| Other | Total | Total | |
| costs | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Direct charitable expenditure | 122,234 | 122,234 | 77,912 |
| Management and administration costs | 240 | 240 | 1,696 |
| Governance costs | 1,860 | 1,860 | 1,570 |
| _ | _ | _ | |
| 124,334 | 124,334 | 81,178 | |
| _ | _ | _ | |
| _ | _ | _ | |
| Further analysis: | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Ground maintenance | 30,881 | 42,129 | |
| Building maintenance | 53,546 | 9,718 | |
| Insurance | 2,798 | 2,569 | |
| Utilities | 15,808 | 7,954 | |
| Telephone and Sky | 1,816 | 5,610 | |
| Printing, postage and stationery | 309 | 107 | |
| Donations – colts | 200 | 4,700 | |
| Donations – cricket section* | 12,500 | 2,000 | |
| Donations – Womens | - | 677 | |
| Accountancy fees | 1,860 | 1,570 | |
| Bank charges | 77 | 5 | |
| Sundry expenses | 240 | 1,696 | |
| Depreciation | 4,299 | 2,443 | |
| __ | __ | ||
| 124,334 | 81,178 | ||
| __ | __ | ||
| __ | __ |
*The donation made to the cricket section is to an entity outside Shepherds Bush Cricket Club
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
6. TANGIBLE FIXED ASSETS
| 6. TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Plant | |||
| Pavilion | and | ||
| buildings | machinery | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| As at 1 January 2022 | 48,858 | 53,473 | 102,331 |
| Additions | - | 9,900 | 9,900 |
| _ | _ | _ | |
| As at 31 December 2022 | 48,858 | 63,373 | 112,231 |
| _ | _ | _ | |
| _ | _ | _ | |
| Depreciation | |||
| As at 1 January 2022 | 14,658 | 53,473 | 68,131 |
| Charge for the year | 2,443 | 1,856 | 4,299 |
| _ | _ | _ | |
| As at 31 December 2022 | 17,101 | 55,329 | 72,430 |
| _ | _ | _ | |
| _ | _ | _ | |
| Net book value | |||
| As at 31 December 2022 | 31,757 | 8,044 | 39,801 |
| _ | _ | _ | |
| _ | _ | _ | |
| As at 31 December 2021 | 34,200 | - | 34,200 |
| _ | _ | _ | |
| _ | _ | _ | |
| Pavilion costs have been capitalised over time with corresponding capital | grants received | having been | |
| offset against these costs. | __ | __ |
| 7. CREDITORS Amounts falling due within one year Other creditors and accruals _ _ ____ |
2022 £ 100 _ 100 _ _ |
2021 £ - _ - _ ____ |
|---|---|---|
8. FINANCIAL INSTRUMENTS
The carrying amounts of charity’s financial instruments are as follows:
Financial assets
| Financial assets | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Debt instruments measured at transaction price: | ||
| Amount due from SBCC Social Club Limited | - | - |
| Other debtors | - | - |
| Cash at bank and in hand | 153,164 | 184,839 |
| __ | __ | |
| 153,164 | 184,839 | |
| __ | __ | |
| __ | __ |
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
8. FINANCIAL INSTRUMENTS (Continued)
| Financial liabilities 002022 £ Measured at transaction price Other creditors and accruals 100 __ _ _ __ |
2021 £ - _ _ |
|---|---|
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 39,801 | - | 39,801 |
| Current assets | 153,164 | - | 153,164 |
| Current liabilities | (100) | - | (100) |
| _ | _ | _ | |
| Total funds | 192,866 | - | 192,866 |
| _ | _ | _ | |
| Unrestricted | Restricted | Total | |
| Funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 34,200 | - | 34,200 |
| Current assets | 184,839 | - | 184,839 |
| Current liabilities | - | - | - |
| _ | _ | _ | |
| Total funds | 219,039 | - | 219,039 |
| _ | _ | _ |
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SHEPHERDS BUSH CRICKET CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| 10. UNRESTRICTED FUNDS | ||
| Balance as at 1 January 2021 | 219,039 | 170,531 |
| Income | 98,160 | 129,686 |
| Expenditure | (124,334) | (81,178) |
| ___ | ___ | |
| Balance at 31 December 2021 | 192,865 ___ |
219,039 ___ |
11. INDEPENDENT EXAMINERS REMUNERATION
The independent examiners remuneration amounts to an independent examination fee of £1,680 (2021 - £1,560).
12. RELATED PARTY TRANSACTIONS
SBCC Social Club Limited is a related party as it is managed and controlled by members of Shepherds Bush Cricket Club. Donations of £17,000 (2021 - £15,000) were receivable from SBCC Social Club Limited during the year.
The balance outstanding from SBCC Social Club Limited at the end of the year was £nil (2021 - £0).
13. VAT STATUS
Shepherds Bush Cricket Club is not VAT registered for the current reporting period. All amounts are inclusive of VAT in the basis of preparing the accounts.
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