Company Registration No. 05389825 Registered Charity No. 1108593 The Oval Cricket Relief Trust ADDual Report and Financial Statsments Year ended 31 December 2021 *A8DNAINK¥ 3010912022 COMPANIES HOUSE
253
The Oval Cricket Relief Trust Contents Page Officers and profess101 advtsers Tru$tees' report Trustees. responslbllltle$ ststtmtht Independent examiner's report St*ttmeJt of nttanclal a¢dvltles Balance sbeet Statement of cash flows PriDcipal accounting pDlicie5 io Notes to the flnanclal statements 12
The Oval Cricket Relief Trust Annual Report and financial statements 2021 otricers and professional advisers Trustees R A Gould (Re51¢d 13 January 2022) . P C J Sheldon S Elworthy (Appointed 13 Januory 2022) Secretary P C J Sheldon Bankers Allied Irish Bank (GB) ' 10 B¢rk¢l¢y Square London WIJ6AA Reglstered Offi¢e The Oval KennInOrt Oval London SEI15SS Independent examiner Deloitte LLP l New Street SquaTe London EC4 3HQ
The Oval Cricket Relief Trust Trustees, report For the year ended 31 December 2021 The trUteS present their report together with the financial statements for th¢ y¢gr ended 31 Dc¢ember 2021. Objectives nd a¢tlv115es The TnLSt was fonned on I l March 2005 with the PUTe of providing aid for the relief of povety and financial hardship atnonESt people and ¢ommuniti¢s aff¢cted by nathllal and man-made disasters such as earthquakes. hu1¢all¢s, flood& tsun¥mis, droughL fire. acts of war or tenorism. aviatio marine or on-shore ocuurentts or any other disaster anywhere in the world. DuTing its years of operation th¢ Twst has granted over £890.[ of aid to projects in Sri Lank4 Grenada. BaTbados, India and Haiti. The fijnds have priti¢ipally been rnised through the staging of higb profile international Twenty20 cricket matches at the then Brit Oval. London. in 2(K)5 and 2006. In additio corpor81e and private donations have also been received for which the Trustees are very gTalefiJl. The TTUStees will be pleased to receive further donations and legacies, and more Inforntion on th¢ activities of the Tnt can be obtained by contacting the Kia Oval. While there have not been any fiuMI-r4isin8 matches since 2006 it is ¢nvisag¢d that fixthr¢s 111 tak¢ plac¢ in futur¢ y¢ars. Procedures andpolicyforgrant mah.ng The trustees nornmlly meet three times a year to Consider what grants they will and to review any f¢¢dback th¢y have received. The TnLStees have a policy. which is communicated to all beneficiaries. that they nornially make one•off grant5 with no guarantees of future fillLdin8. The Truste¢5 alway5 s¢ek f¢¢dback OD the actuhl use of th¢ grants giv¢n and th¢ achievements made. The explanations and f¢edback receivcd art sufficienl for moniioTing th¢ quality of grants made. The financial affairs of the clwi'ty aTe handled by KenniDgfoD Oval Limited on a pro-knno basis. Strueturfy Governance xttd MllagemeDt Organisalion The charity is managed by the trustees. as swejj in the Articles of ASSOCI70. Risk mtznagement Th¢ Trust¢¢s have revi¢w¢d the major risks to vthich the TnLSt is exposed. The Tntee5 aim to revieiv tliese risks on on annual basis attd will be seeking to identify means of managing the potentia] impact on the Trust should any of the risks materialise. Publle Beneflt Staiement The charity is a public benefit entity. The TrUe¢S have a duty to report on the 'publi¢ bm¢fit' from ¢PItable activities by explaining the significant activittes undertaken, their objectives aTid their achievements. Due regard has been paid to the publi¢ benefit guidattce publthed by the Charity Commission. AchievemeDts performance of the Trust Since in¢eption ihe Tru has rdised over £1 million for the purpose of providing wts in accordance with its aims. It conts.nues to support activities in Sri Lank4 the caribbea Indi4 Pakistan and other aTeas affected by both natural and man¢ disasters.
The Oval Cricket Relief Trust Trustees, report (continued) FiDan¢ial Revlew The Chority rec¢ivd n¢t iti¢om¢ of £14.958 in its general fimd after making two grnnts.iOtaling £25k during the year. In 2020 the Charity had net expenditure of (£7,056). At yeaT end th¢ g¢n¢ral fund balanc¢ £15.364 (2020.. £405). Th¢s¢ financial stat¢m¢nts have b¢¢n pr¢par¢d in accordance with the provisions applicable to companies subject to the small companies, regime. In accoTdance with the ex¢mptiOty no Strategic Report is required to be prepared. Investmtnipoltry The TnLSte¢s hav¢ th¢ power to invest in such assets they sce fit. For the time being the Tntstees intend to bold surplus cash in 5hort-teTm dcwsits. Resetvepolicy Given the nature of th¢ ¢haritys principal activity the Tnte do not consider that it is nece55ary or appropriate to a¢¢urnulate long-tenn reserves. Fund Poli All fimds held are unrestricted and may be applied for any chantable wypose at th¢ dis¢fftion of th¢ trILSt¢¢s in a¢¢ordan¢¢ with the gov¢rning documents. Reference and Adminijtrative Details of the Ch*rfty and Its Trustees The TnteeS who served during the year and up to th¢ datr of signing are as follow5: R A Gould (Resigned 13 Jamwy 2022) P C J Sheldon S Elworthy {Appointed 13th January 2022) The TrsteeS are also the directors for the puw of company law. In accordance with the Articles of Association. direc are appointrd by the other Intstees or by ordinary r¢solution of the Compwiy. As a company limited by guarantee. th¢T¢ is no share ¢apitsl. Non¢ of the TnLStees. nor rnembers of their families, had any interests in the company during the peTiOd. In accordance with the Articles of Asso¢i8ti4)n. 811 diTectots will retire at the forthcoming annual g¢n¢ral meeting an being ¢ligibl¢. offer themselves for reappointrneDt. Golng Concern The TnteeS have a reasonable expectation that the Charity has #dequat¢ resources to continue in operational ¢xist¢n¢e for the foreseeable futh. Thus they continue to adopt the going concern bosis in preparing the atmuai fuwicial statements. Plans for futsre periods The trustees intend to review the Charities objectives in the coming year to ¢nsur¢ thry remain appropriat seventeen years after the fornlOn of the Charity.
The Oval Cricket Relief Trust Trustees, report (continued) Statement on distlogurt of iDformation to Exmkner Each of the Trustees at the date of aFproval of this rwt confinw that: so far as each of the TnJste¢s is aware. the is TAO rcl¢vaDt audit iDforn]ation of which the Company's ExamineT is unaware" and the Trustee has tsken all the steps that.hdshe ouEht to have tsken as a TTUStee to make himselfflierself aware of any relevant audit iriforniation and to establish that the rornp#ny's Examiti¢r is aware of that infonnation. This C0nfirnt10n is giv¢n and should be interpret1 in accordance with the provisions of s418 of th¢ Companies A The Tntees. Report vrns approved by the order of the troses and signed on its behalf by: S Ejwortby TTuslee 29th September 2022
The Oval Cricket Relief Trust Trustees, responsibilities statement The tNstees (who are also dir¢ctors of Th¢ Oval Cricket Relief Trst for the purySe$ of company law) are. Tesponsible for preparing the Tntees. Annual Rwrt and the financial statements in accordance with appltcable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally A¢cwied A¢couDting Prn¢ti¢¢) in¢luding "FRS 102 "The Financial Reporting Standard appli1¢ in th¢ UK and Republic of treland" Company law requires the trStee$ to prepare financia] statements for each financial yw which give a and fair view of the state of affair5 of the chaTitsbl¢ rpattY and of the incoming resources and application of TesouTCe including the income and expenditUTe. of the charitable company for that p¢ricKI. In preparin8 these financial ststements. the tru5tee5 are required to: sel¢¢t suitsble accounling FK)licies and then apply them consist¢ntly: observe the methods and PTin¢ipl¢s in the Ch*Ati¢s SORP. mak¢ judgements and ests'mates that are reasonable and pnjdent" state whether applicable UK Accounting Stsndarth have been followed. 8nd prepare the financial stat¢m¢nts on the going wn¢ern basis unless it is inappropriate to presume that the charitable company will continue in busiDeAs. Th¢ trustees are responsible for keeping adequate ac¢owiting records that disclose with reasonable accuracy at any time th¢ fllwicial position of the charitable company and enable them to ¢nsur¢ that th¢ financial stat¢mellts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of th¢ charitsble Company aod hence foT taking reosonable steps for the prevention and detection of fraud and other iTregulaTitie5.
The Oval Cricket Relief Trnst Trustees, report (continued) Independent examiner's report to the trustees of The Oval Cricket Relief Trust I report to the ¢harity's truste£s on my ¢xamitia¢ion of th¢ of Th¢ Oval Cricket Relief Trt ('the company,) for tbe year ended 31 Dx¢mb¢r 2021 which cornprise the statement of fi01¥1 ¥tiviti¢s. the balance 51vL the statement of casb flowk principal %coulltiDgpolicies aod the relatrd notrs I w 9. This rwt is solely to th¢ cbaTity's as al. in a¢coTdance witlL" StttiOD 145 of the Charities Act 2011 and regulatioos made under section 154 of that A¢t. My W0bS be¢n undertak¢D that I might state to th¢ cIlty,5 trust¢es th05¢ matters l am required to stst¢ to them iti an ithJepett&nt examill¢r's r¢port and for Do oth¢r puwlse. To the fiJlle5t extent nitted by law, I do Dot aCpt or assume Tcsponsibility to aDyoDe otherthatt the clwity alld the ¢haTity'S tnLStees as a body. for my wot, for this repor4 OT forthe opillions I havc forn R¢spon$lblltt1 and basis of report As th¢ ¢hartty'S trustee5 (aDd also its directOTS for the puTSe5 of compaDy law), you arc respoDsiblc for thc.prqMration of the . a¢¢ounts in a¢¢ordaDrK with the r4uiremeDts of the Companies Act 2CQ6 ('Ibe 2( Act. are satisfied that your charity 1$ Dot rquired by cbdrity knv ty bc auditrd and bavc iDSttsA to have an ind¢ytsdtst ¢xathinthon. Having satisfied myself that the X¢OUDts of the company are TKII required audited uThl¢r Part 16 of th¢ 2006 A¢t and are eligible for iDdepcndent examinalioD. I rcport in rc5PCCt of my cxaminaiion of YOUT charity's aC¢OUnts as cattied out under section 145 of the awiti&% Act 2011 2011 Act). Its carryittgout my examittatiott I Iwe ftillowtyl th¢ dJre¢tions Ven by th¢ Cbarity Commission under 5eciion 145(SXb) of the 2011 ACL lThd¢p¢nd¢nt uThin'S gt*tement have completed my examination. I confirni tbat no rnattus havc come to my attation in CODDcction with th¢ examin&iiory giving m¢ cause to believe that in any rrtaterial Tespttt.. a¢¢ouJJtit)g records were not kq)t in respeth of the comwy Ttquirtd by 5CCtion 386 of the 2(K16 Act" OT tbe accounts do not a¢¢ord with th05¢ yer&S,. or th¢ a¢unts do not comply with the accounting reqlliternts of section 396 of the 21M16 Act other than any requirement that the attoytsLS 8iV¢ a 'ty¢ alld fair view. which is a matt¢r considered &8'P3rt of an iDdepeDdeDt examination. or the a¢¢outsts have not been pr iti aOrdan¢¢ with the m¢thods aDd pnnciple5 ofthe Statement of Recommended Practice for 3¢¢ouDting and ryrtittg by ¢ban"ties aFoli¢able to ¢batities pr¢patig their in accordance with the Financial Reponitig Standard applicable its tbe UK and Republic of lyelathl (FRS 102). I have no Concerns and have come across DO other matter5 in Connection with the examination to whicb atteDtiOll should be drnv in this report ID ordcr enable aprow lerstanding of the accounts to be e Andrew Ha115 FCA for and ¢)n behalf.of Deloitte LLP London. United Kingdom 2 September 2022
The Oval Cricket Relief Trust Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2021 2021 2020 Note Iunrestrided) (Unrestri¢ted) Income from Donations Investment in¢om¢ 40,0 18,IXK) Total fincome .40.001 18.IX)I Expendlture o Charitsble activities (25.042) (25,057) Total ¢xp¢nditLW¢ (25.042) (25.057) Net incomeJ(expeDditure) for the year 14.959 (7.056) Accumulated funds brought forward 405 7.461 Net movement in funds 14,959 (7,056) Total funds carried forward At 31 December 202112020 15.364 405 There were no Tecognised gains or losses other than those shown in the Ststement of Financial Activities for the year. All income and expenditure derives from continiiing activities. The notes on pages 12 to 13 forn) part of these finat)cial ststements.
The Oval Cricket Relief Trust Balance sheet As at 31 December 2021 2021 2020 Current assets Cash at bank and in hand 16.894 1.935 16.894 1.935 Creditors: amounts f4lUng due vAlhln one year (1.530) (1.530) Net ¢#rrttst assets . 15.364 405 .Total assets less current liabili¢Ks 15.364 405 Net assets 15,364 405 Total lunds of the Charity Totsl Charity fid8 (Unrastrided) 15,364 405 Th¢ notes on pag¢s 12 to 13 forn) part of these fiThanci statements. For the yeaT ended 31 December 2021 th¢ ¢haritsbl¢ MpanY was entitled to exemption from audit under section 477 f the Companies Act 2006 relating io small companies. The membeTS have not required the charitsbl¢ to obtaiti an audit of its financial stat¢m¢nts for the year in question in accordance with section 476. The trustee directors acknowledge their resrM)nsibilities for rmPlyIng with the requirements of the CompleS Act 2006 with r¢sp¢ct to a¢Uting records and th¢ preparation of financial statements. These accounts have been Prepared in accordance with the provisions appli¢abl¢ to ¢oMpanI subje¢t to the small companies, regime. These fmancial staiements of The Oval Cricket Reli¢f TnLSt. registeTed number 05389825 were approv¢d by the Board of Trustees and authorised for issue on 29th September 2022. They were signed on its behalf by: . S Elworthy Trustee The notes on pages 12 to 13 forn) part of these financial *atements.
The Oval Cricket Relief Trust Statement of cash flows For the year ended 31 December 2021 2021 2020 Reconclliatlon of net movemeDt in funds lo net cgsh flow from operating a¢tivities Net movement In fundg Adj$tentS for: Ded1 investment income shown in investing activities Decrease in ¢ditOrS 14.959 {7,056) (i) (i) Net eash generatedl (used ) from operating activities 14,958 (7.057) Net cash flow IDI(usedyfrom operatlng activities 14.958 (7,057) Cash Ilows from Investlng a¢dvld Int¢r¢st in¢om¢ Net cash flowj from investment divilies IncreasellDecrease) ID casb and cash equivleDts ill the year 14,959 (7,056) Cash and equival¢nts at begit)ning of th¢ year 1.935 8.991 Cash and ¢#sh equivalents *t the end of the year 16,894 1,935
The Oval Cricket Relief Trust Principal accounting policies For the year ended 31 December 2021 Basls of 4¢¢ountlDg The Oval Cricket Relief TTUSt. a public benefit entity. is incorporated in the United Kingdom and registered in . England and Wal¢s as a ¢oJnpany limit by guatant¢e ttot baving a share ¢apitsl. The addt¢ss of its TegisteTed office is The Oval, Kennington Oval. London. SEI15SS. The financial statementsore prepaTed under the historical c05t Convention, in accordance with the Statemenl of Recommended Practice 'AccouDting and Reporting by Clwities (SORP 2019), applicabl¢ to cTrwiti¢s preparing their &ccowits in a¢cordan¢e with the Financial Reporting Stsndard applible in the UK Republic of Ireland (FRS 102), effective l January 2019. and the CompaTsies Act 2006. The principal accounting policies adopted in the.prwation of the financial statements are sel out below. Golng Concern The charity h&s no overheads and th¢ small governance costs are m¢t by Kennington Oval Limited. The charitable objects are met through the rnising of fimds through ¢horitable Crick ev¢nts and desi£nating grants from fwids rais¢d. Th¢re are no on-going legal ¢ommitm¢nts to donations or grants. Th¢ chATity hLS net &ssets of £15.364 (2020.. £405), which is comprised of cash ai bank and on hand. Dun"ng the year the chan.ty rnade grants of £IO.000 io the Rwanda Cricket Builds Hope Foundation and £15.000 to Mw'c Bus in line with the charities. objectives with fither support ¢osts of £42. Th¢ grani to the Rwanda Cricket Builts Hope Foundation was made in liri¢ with the charities objectives and there are no further leg41 ¢ommithi¢nts for lts wbi¢h would aff¢¢t the net asset position going forward. Aft¢r making adequate enquiries, the Tntste¢s have a re*50nable expe¢t#tion that th¢ Tntst has adequate sourceS to continue in operational eii5teDc¢ for ai l¢a5t th¢ ry¢xt 12 months. Acwrdingly, they continue to adopt the going conceTn basis in preparing the financial slaternents. In¢ome Donalions andgifts All monetary donatiotts and 8ifLs are included in in th¢ ststement of financial activities wh¢n e1vable. provided that ther¢ are no donor-imposed restrictions as to the timing of the T¢lated ¢xpenditUTfy in which case Tecognition is deferred until the Pre-condition has been meL LegAci¢$ are included when the eharity is advised by th¢ p¢Tsonal represetststive of an estate that payment will be made and the amounl involved c#n be quantified. They are Includ in the 5talement of financial activities. Gifts-in-kind aTe accounted for 4t the tre¢S. estimate of value to the charity or sale value as follows.. Assets r¢c¢ivd for distribution Trs41¢ arE reco15¢& wh¢r¢ practi1¢. when re¢¢ivable or otherwise wh¢n Gifts of fixed assets for chaTity use or fidS for aquiring fiKed assets for tharity use 8tt ac¢owited for immediately on receipt. Intanble income. which comprises donated services, is Inched in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is qu4ntifi&bl¢ and m¢¥urable. An equivalent att)ount is Charged as ¢xp¢ndi¢ure. No income is Tecognised when there is no financial cost borne by a third party. Voluntsry help is not included as income. io
The Oval Cricket Relief Trust Principal accounting policies (continued) For the year ended 31 December 2021 In¢om¢ (¢ontlnued) Donations under Gift Aid togdb¢r with the associated income tsx rewuies are u¢dit¢d as iDcome when the donations are Teceived. Invulment income Investhient income, in¢ludinE associated income tsx Tecoveries. is recognised when receivabk. ExpeDdfitsre Expendiiwe is recol$ed when a liability is in¢urred. Contractual arrangon¢nts and p¢rforniance related grants a recognis¢d as goods or services are supplithL Other grant payments are reCOlS¢d wh¢n a ¢onstructiv¢ obligation aTises that results in the payment being unavoidable. Cost of raisitig funds are those costs in¢urred in attracting Volunt income. gttd thos¢ inoured in tr]ng . activities that raise funds. Charitable activitses include expendiluTe &wciated with the staging of fiuhknsing crickel rnatch and include both the direct costs and sUPPOrt costs relating to these activities. Support costs include central fimctions and have been allated to activity cost categories on a basis consistent with th¢ use of r¢sour¢es, ¢.g. allotill8 property ¢osts by floor areas. OT per ¢41it4 staff costs by the time sp¢DI and other costs by their usage. In¢luded within support Costs are governance costs which include those incurred in the governance of the charity and its assets and are primarily a5SLKiated with constitutional and statutory requiTements. FuDds Policy Income represettts unr&stri¢ted funds whi¢h.8re end)ble at the th's¢TetioD of th¢"trustecs in the fiwther&n¢e of the obj¢¢ts of the charity. Critical a¢¢ounthig Judgements and key sour¢es of estlmatlon un¢eit•lnty ID the application of the Charity's accounting poli¢ies. which are d¢scribed above. the TnLSt¢¢s are r¢quired to mak¢ judgements. e$timates and &ssumptions about the urrying amounts of Assets and liabilities that are not r¢Adily apparent from oth¢r Sou¢$. Th¢ ¢stimat¢s and associated assumptions are bas¢d on histori¢•l experience and other fA¢tors that ar¢ ¢onsid¢red to b¢ rel¢vanL Actu results may difftr frotn these estimates. The estimates and underlying assumptions ar¢ reviewed on an ongoing bAsis. Revisions to I¢nting estimates are recognised in the period in wlu"¢h the estimate is revised if the Tevision affects only thai period, or in the period of the revision and future periods if the Tevision affects both curnt and firture periods. The TTUSiee5 do not consider there are any critical judgements or Sourc of estimation uncertainty requiring disclosure beyond the accountin8 polici list abov¢.
The Oval Cricket Relief Trust Notes to the fmancial statements For the year ended 31 December 2021 Charitable gctivities During the yw the Charity made grants of £IO,IYX) to Cricket Builds Hope and £15.(KK) to Magic Bus cricket PTOgrdMI, in line wilh the charities. objectives totaling £25.000 (2020: £25.(M)o). During the year the Charity imured sUprt costs of £42 (2020: £57). 'IDdepelldenl examiner's remunernlion The independeni examination fee is paid by Surrey County Cricket Club Limited; no TeS have been made to the Charity in the current y¢ar. Management aDd adminlstratlon of the charlty Staff ¢osts during the period wtte £nil (2020.. £nil). No TnLStees or person with a family or business onnedion with a tr$1¢¢ (2020.. noTb¢) TK¢ived T¢mun¢r3tion in the peTiod. dir¢¢tly or indir¢¢tly. from the ChaTity. No Intsiees (2020." none) received T¢imbuT5ement of oul-of-pocket expenses during the year. There were no other related paty traLctIO in the year (2020: £nil). Credltors: amouots f4lllng due rAtbln o*e ye 2021 2020 Other creditors ,530 1,530 .Other ¢reditors compris¢s of funds r¢ceiv¢d relating to the cbarity cri¢k¢t gam¢ held in prior p¢riods. Funds are held by The Oval Cricket Relief TTht on behalf of. and are payable to Cricket West Indies In¢. 12
The Oval Cricket Relief Trust Notes to the financial statements (continued) For the year ended 31 December 2021 Total funds Unrestricted funds At l January 2020 Income Exp¢nditure 7.461 18.001 (25.057) At 31 December 2020 405 At l January 2021 Income Expenditure 405 40.001 (25.042) At 31 December 2021 15.364 Capli41 comThlthients The charity had no capital commitments at 31 De¢ember 2021 or 31 December 2020. Cont5ngetht Ilabllldes There were no c¢)nlingent li4bilities at 31 Decemb¢r 2021 or 31 D¢¢ember 2020. Tixado As a registered chaTity. the Tnt is exempt from t&xation on its income and gains Under part I l of the .CoTporation Taxation Act 2010 and Sedion 256 of the Taxation of Chargeable Gains Act 1992 to the extent these are applied to its chaTitable purpose5.'No tsx charge has aris¢n in th¢ year ended 31 December 2021 (2020.. £nii). P05t blnte sheet event In January 2022. the Charity rerxived a donation of £IIX).O(K) from SuTrey County Crick¢t Club Limited. 13