Company Registration No. 5483977
Charity No. 1112540
England and Wales Cricket Trust
(A company limited by guarantee)
Annual Report and Financial Statements
31 January 2023

England and Wales Cricket Trust
(A company limited by guarantee)
Annual Report and Financial Statements for the year ended 31 January 2023
Contents
Page
Officers and Professional Advisers
Trustees, Report
statement of Trustees, Responsibilities
io
Independent Auditor's Report to Members of the England and Wales Cricket Trust
li
Statement of Financial Activities
15
Balance Sheet
16
Notes to the Financial Statements
17

England and Wales Cricket Trust
(A company limited by guarantee)
Annual Report and Financial Statements for the year ended 31 January 2023
Officers and Professional Advisers
Directors and Trustees
lan Lovett
Richard Gould lappointed 2. February 20231
Scott Smith
James Wood
Peter Ackerley
Sancha Legg
Ruth Sienkiewicz
Forhad Hussain (appointed 2 June 20221
Tom Harrison (resigned 5, June 20221
nd
Registered Office
Lord's Cricket Ground
St John's Wood
London
NW8 8QZ
Registered Charity Number
1112540
Bankers
National Westminster Bank plc
106 Finchley Road
Swiss Cottage
London
NW3 5JN
Solicitors
Bates Wells & Braithwaite LLP
2-6 Cannon Street
London
EC4A 6YH
DB Pitmans LLP
107 Cheapside
London
EC2V 6DN
Audltor
KPMG LLP
15 Canada Square
London
E14 5GL

Trustees, Report
structure, governance and management
The Trustees, who are also the directors for the purposes of Company Law, submit their report and the financial
statements of England and Wales Cricket Trust I"The Trust" or"EWCf'l for the year ended 31 January 2023.
The Trustees comply with the provisions of the Statement of Recommended Practice ISORPI 'Accounting and
Reporting by Charities, effective from 2019 in preparing the annual report and financial statements of this
charitv.
The board of Trustees have overall responsibility for the direction, Management and control of the England and
Wales Cricket Trust.
Objectlves and activitie5
The objectives of the Trust are, for the benefit of the public, to..
promote community participatlon in healthy recreation by providing facilitie5 for playing cricket,. and
lill promote all purposes as recoEnised as charitable under the law5 of England and Wales through an
association with cricket.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and
setting the grant making policy for the year.
Achievements and performance
The key elements of the charity's strategy are:
to continue to deliver revenue funding to the recreational game to facilitate the existinE community
participation Iparticularly amongst boys and girls age group cricket) and enable increased participation
amongst all levels of the recreational game,.
to administer an interest free loan scheme for recreational cricket clubs With the aim of increasing the
loan pool to £5m in the short term and £IOm in the medium term. These loans are specifically for
facilities at recreational cricket clubs to support their cricket programme5;
liiil to seek to provide facility grants both for cricket machinery and wider f3cility enhancements to support
the recreational Eame,. and
livl to support other cricketing charities whose objects are aliBned with that of the Trust.
In 2022123, the Trust made donations totaling £2,965,00012022.' £2,286,834) to Chance to Shine and £926,225
12022.. £500,0001 to Lord's Taverners.
The activities of the Trust are funded using a combination of restricted ftjnds from Sport England and the Trust's
unrestricted and des18nated funds. The interest free loan scheme is funded wholly from the Trust's unrestricted
funds.
Incorporation
England and Wales Cricket Trust, a private company limited by guarantee (No. 54839771, was incorporated on
17 June 2005 by a Memorandum and Articles of Association and is a registered charity (No. 11125401. The
registered office of the company and Trust 15 Lord's Cricket Ground, London, NW8 8QZ.

Trustees, Report (continued)
Trustees
The Trustees serving during the year were..
Positlon with related partie5
Trustees
lan Lovett
President, England and Wales Cricket Board
Tom Harrisorb
Board Member, Chief Executive Officer, England and Wales
Cricket Board
Scott Smith
8oard Member, Chief Finance Officer, England and Wales
Crickel Board
James Wood
Board Member, England and Wales Cricket Board,. Member,
Devon County Cricl(et Club
Peter Ackerley
Director,
Lancashire
Cricket Foundation- Committee
Member, Lord's Taverners
Sancha Legg
Committee Member, ECB Participation & Growth Committee
Ruth Sienkiewicz
None
Richard Gould
Board Member, Chief Executive Officer, England and Wales
Crickel Board
Forhad Hussain
Nor)e
The board is made up of eight Trustees, three of whom are independent of the England and Wales Cricket Board
Limited I'ECB"). The Trustees of the England and Wales Cricket Trust are appointed by the ECB for their Specific
expertise in areas relevant to the charity. The board commits to revlewing the individuals on the board annually
at a Trustees, meeting and recommendations are then given to the ECB.
The Trustees meet at least once a year and on any other occasions as judged necessary in order to review
progress and determine matters of strategy and policy, whilst leaving the day-to-day matters to the
management team or to specific individuals. The management team consists of individuals with specific
knowledge of Club and Facllity Management and Development, Cricket Board Management and Development
and Finance.
NewTrustees meet with the current Board members at the Trustees, meeting, and prior to this with the Finance
team responsible for the Trust, who provide relevant documents and information about the role. Any Trustee
updates le.g. from the Charity Commissionl or decisions to be made are communicated by the Project
Accountant responsible for EWCT.

Trustees, Report (continued)
Risk management and internal control
The Trustees have overall responsibility for ensuring that the Trust operates an appropriate system of controls,
financial and otherwise, to provide reasonable assurance that the Trust Is operating efficiently and effectivelv,
and that the Trust complies with the relevant laws and regulatlQn5.
Powers
To further its objectives, the Trust may-
provide grants and loans for capital improvements to grounds and facilities of community recreational
sports clubs, County Boards, charitable sports clubs and other bodie5; and
lill provide and assist in the provision of money, materials or other help.
Grant policy
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where
the offer is conditional, such grants being recognised as expenditure when the conditions are fulfilled. Grants
are approved and monitored by the relevant members of the management team.
Soci31 Investment policv
The Trust administers an Interest Free Loan Scheme IIFLSI, which aims to finance capital projects to help create
a sustainable future for cricket. The scheme can be partnered with the EWCT Strategic grants and County grants
schemes and other external funding programmes.
The EWCT Interest Free Loan Scheme supports projects that could not otherwise be completed as some clubs
cannot obtain commercial finance and the availability of grant funding ha5 decreased over the past few years.
The loan scheme also allows evidentially sustainable projects to be financed years ahead of schedule when
compared to the proce55 of fundraising or building reserves. This in turn often allow5 clubs to increase revenues
due to enhanced facilitie5, which allows, repayment of the loan, growth in membership and enhanced
expenditure on community cricket activities.
The Trust requires clubs to have personal guarantors, who are jointly and severally liable for repayment of the
loan in the event of a default, or occasionally (for large value loansl it takes out a legal charge over the club's
Employees
The Trust does not employ any members of staff.
Reserves policy
The Trust plans to maintain reserve5 $0 that at all time5 during the year, as a minimum, reserves are at least..
the level of interest free loans to be made to recreational crlcket clubs,. plus
the level of expenditure, both charitable spend and overheads, expected in the next 12 months.
To date, donat10115 have tended to be received towards the end of the financial year while the majority of
expenditure has been at the beginning or in the middle of the financial year. This, and the above policy, means
that at year end we usually seek to have reserves of at least two times annual expenditure plus the planned
loan pool. In addition, we take into account that the major donor has 8 highly cyclical business, Wlth annual
profits varying significantly year-on-year. This means ihat on occasion, reserves will be far higher than two

Trustees, Report (continued}
times annual expenditure plus the loan pool. For 2022/23, ECB, as the parent company, made no donation
during the year.
Investment policv
It is the policy of the Trust to place it5 investments in cash deposits which provide appropriate liquidity, and
which are deemed to be of low risk as defined by the agreed Treasury Management policy.
Golng concern
The Trustees have a reasonable expectation that the Trust has adequate resources to continue in existence for
the foreseeable future. For this reason, the Trustees continue to adopt the going concern basis in preparinE the
accounts, as disclosed in the accounting policies.
As the Trust is funded by reseNes, which at present are adequate to cover more than the next 12 month5
expenditure, there are turrently no anticipated issues surrounding going concern. Thi5 is reviewed in further
detail in the Basis for Preparation under Note I to the accounts.
Strategic report
Financial revlew and performance
During the period, the Trust received income from charitable activities amounting to £617,651 12022..
£974,3871. The Trust made revenue grants to County Cricket Boards amounting to £11,289,068 12022..
£11,597,745) in accordance with the County Partnership Agreement ICPAI.
Other charitable spend was £17,985,98712022-. £12,013,614).
Investment returns in 2023123 were £741,90712022.. £38,973).
The Trust held unrestricted fund5 of £38,917,01612022 all unrestrictedfunds.. £67,296,490). The decrease in
funds was due to the donation from the parent company of £44,000,000 in 2022.
Financial commentary
The charity made a deficit of £28,379,474 for the period, compared to a surplus of £21,401,451 in the previous
year. This was due to the donation from ECB which exceeded eKpenditure for the year 2021/22.
Donatlons were received toward5 the Trust'5 charitable activities from ECB, Sport England and LV= Insurance
for the #Funds4Runs grant scheme. In addition, the Trust generated £740,178 from its investments. This will
be added to the reserves and held as an emergency fund available to help clubs in need of urgent financial
assistance.
The Trust's expenditlfre has increased year-on-year. In 2022123, £29,275,055 was spent on charitable activitie5,
compared to £23,611,359 in the previous period. The increase is due to 2022123 being the first full year of an
18 month budget period for the County Grants Fund, increased donations to cricketing charities to support the
Youth Strategy, offset by the cessation of Return to cricket grants.

Trustees, Report {continued)
Analysis of the Trust's performance agalnst oblectives
As at 31 January 2023, interest free loans to recreational cricket clubs since the scheme began tota￿led
£11,436,67412022.' EIO,465,7241. During the perlod, the Trust paid out £970,950 in 49 new loans, and loan
offers made to clubs but not yet advanced totalled £106,50012022.' £140,872).
In 2022123 total grants to clubs of £14,094,762 were made lincluding partner fundingl12022.' £8,426,781). Of
these, £12,332,450 were for facilities projects.
Ewcf administered three further revenue grant schemes on behalf of the Commercial, Participation and
Growth, and Disability cricket Departments which are included in the total grants,. #Funds4Runs145 Erants
totalling £373,712), Disability Champion Clubs138 clubs totalling £19,000) and Inspired to Play11,362 grants
totalling £1,369,600).
£6,009,973 was paid out in strategic grants in 2022123 including key investment5 into the City of Bradford la
pilot scheme with a new "cricket shield" facilitating indoor/outdoor play plus an improvement to fine turf
provision) and supporting the development of a new ground at Farington, in conjunction with Lancashire
County Council.
The County Grarbts Fund paid out grants of £5,793,583 acr05S Its thematic areas of Creating Welcoming
Environments. Providing Enhanced Facilities or Playing Opportunities for Women and Girls, and Tackling
Climate Change.
2023
2022
IFLS Breakdown
Value of loans (rangel
£3,000 to £66,150 £1,700 to £lOO,000
Number of loans
New loans paid out in period
49
£970,950
44
£644,315
2023
2022
COVID-19 Loans Breakdown
Value of loans Irangel
Number of loans
New loans paid out in perlod
£17,904
£17,904

Trustees, Report (continued)
Facility grants paid 2022123
Type of grant
Number of
grants
Pald by EWCT
Paid by funding
partners
TOTAL
Total Strategic Grants
Strategic Grants.. Urban
Grants
27
£6,009,973
£6,009,973
18
£3,259,101
£3,259,101
Strotegic Grunts.. Women's
& Girls, Grants
£2,750,872
£2.750.872
Total County Grants
County Grt7nts.' Welcoming
und Inclusive Environments
669
£5,793,583
£5,793,583
418
£3,303,806
£3,303,806
County Gronts.. Providing
Enhonced Focilities or
Ploying Opportunities
County Gronts.. Tuckling
Climate Change
Emergency Fund
Other grants
Total grants to cricket
clubs and org3nisations
146
£1,631,999
£1,631,999
105
£857,778
£857,778
25
£528,894
£528,894
1,443
£1,762,312
£1,762.312
2,164
£14,094,762
£14,094,762
Summary analysis of expenditure and related income for charitable activities in 2023
Grants to
County Boards
Grants to
cricketing charities
Grants to
cricket Clubs
Total
Costs
11,289,068
3,891,225
14,094,762
29,275,055
Grants
113,500
I13,5¢￿1
Net cost funded
from other Income
11,289,068
3,777,725
14.094.762
29,161,555
Funding
Funding continued in 2021122 to the 39 County Cricket Boards ICCBS) underthe County Partnership Agreement
ICPAI. The CPA covers the period from I" February 2021 to 31" January 2025. The CPA sets out the framework
for the funding of recreational cricket in England and Wales in the period.
General EWCT funding I£IO,000,000 split across all County Cricket Boards, excluding any specific funding for
the County Age Group competitions or other development programme51-

Trustees, Report (continued)
This funding was used in line with the CPA to-.
support the participation in, and consumptlon of, cricket by attracting and retaining players, volunteers,
officials and coaches and providing safe and high-quality experiences for all,.
proactively develop local cricket clubs and communities,.
grow cricket participation across juniors (girls and boys) and adults Imale and female),.
provide an accessible playing offering that includes-
o the delivery of relevant ECB national products and programmes-
a relevant offering for players from age 5 up, irrespective of age, location, ability and gender:
and
a relevant offering delivered in cricket clubs, urban and other non-traditional cricket
environments as appropriate,.
ensure the requisite child safeguarding provision5 3re in place for activities run by their organisation and
support local cricl(et clubs to meet the required standards.
develop the cricket workforce across volunteers, officials and coaches,.
enable and support leagues to deliver competitions that recruit and retain players; and
grow the number of education institutions that offer cricket.
The principal donor to the Trust is ECB, and ECB has determined un-ringfenced funding to be paid to CCBS for
Beneral running costs, County Age Group funding, development programmes and other county competitions.
In turn, the Trust is a major donor to the Chance to Shine and Lord's Taverners charities.
Rlsk management and Internal control
During the year, a review of the major strategic, business and operational risks that the Trust faces was carried
out. As part of this review, systems and additional proceclures were established both to mitigate those risks
identified and to minimise any potential impact on the Trust should those risks actually materialise.
The Trust has considered credit rlsk and believes that the exposure to this risk is equal to the total value of
interest free loans outstanding. The controls put in place to reduce this risk are credit checks via detailed
financial reviews, agreement of payment terms at the outset of the loan, club appointment of loan guarantors
where applicable and close contact with clubs throughout the terms of the loan. A general bad debt provision
for 2.5% of the value of loans over 3 years old is made, plus any specific loans where payments are in arrears
andlor subject to legal action.
Other Tru5t-specific risks have been identified as part of the group's formal risk analysis exercise..
The impact on community cricket of reductions in public sector funding. The risk has been mitigated by the
allocation of funding to the CCBS via the CPA agreement and by the Trust via the new strategic grants.
Climate change (both drought and floods and storms). The impact has been partially mitl8ated by interest
earned from the Trust's Investments being allocated to the emergency fund, as in previous years, but as
interest earned on investments has decreased, a set budget is now allocated annually in order to cover a
"normal" year of emergency funding for flood and drought.
Plans for future perlods
The Trust's wnain objective5 and activities for this five-year business cycle are..

Trustees, Report (continued)
to administer the interest free loan scheme and 3im to support the recreational game in accessing
this financing source for cricket club facilities through ECB'5 online Investment Management
System IIMSI,.
to administer and distribute the County Grants Fund to recreational cricket clubs and other local
ricl(eting Organisations via the County Cricket Board and Foundation network and IMS,.
to continue to support the County Boards and Foundation5 in line with revenue funding
agreements Inamely the County Partnership Agreements ICPAII;
to continue to support other cricketing charities in line with the Trust's own objectives;
to oversee the liability insurance scheme for recreational cricket clubs,. and
to provide support to recreational cricket clubs through special projects approved by the Trustees
such as an emerBenty relief fund, a flood relief fund andlor a sustainable energy fund.
Ivl
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that-.
so far as the trustee5 are aware, there is no relevant audit information of which the company's auditor is
unaware- and
the trustees have taken all the steps that helshe ought to have taken as a trustee in order to make
himselflherself aware of any relevant audit information and to e5tabli5h that the company's auditor is
aware of that Information.
This confirm8tlon is given and should be interpreted in accordance with the provisions of s418 of the Companie5
Act 2006.
Pursuant to section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and KPMG
LLP will therefore continue in office.
On behalf of the Board
Scott Smith
Trustee
19 April 2023

Statement of Trustees, Responsibilities
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and regulations.
Company law require5 the trustees lo prepare financial statements for each financial year. Under that law they
are required to prepare the financial statements in accordance with UK Accounting 5tandard5 and applicable
law IUK Generally Accepted AccoLJnting Practice), including FRS 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland.
Under company law the trustees must not approve the financial statements unless they are 5atlsfied that they
give a true and fair view of the state of affairs of the charitable company and of the expenditure and income
for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently*
make judgements and estimates that are reasonable and prudent-
assess the charitable company's ability to continue as a going concern, disclosinE, as applicable, matters
related to going concern; and
use the going concern basis of accounting unless they either intend to liquidate the charitable company or
to cease operations, or have no realistic alternative but to do so.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitable company's transactions and disclose with reasonable accuracy at any time the financi81 position
of the charitable company and enable them to ensure that the financial statements comply with the Companies
Act 2006. They are responsible for such internal control as they determine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud or error,
and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of
the charitable company and to prevent and detect fraud and other irregtjlarities.
io

Independent auditor's report to the members of England and Wales Cricket Trust
Opinion
We have audited the financial statements of England and Wales Cricket Trust I'the charitable company") for
the year ended 31 January 2023 which comprise the Statement of financial activities, the Balance sheet and
related notes, including the accounting policies in note l.
In our opinion the financial statement5-
give a true and fair vlew of the charitable company's affairs as at 31 January 2023 and of its incoming
resources and application of resources, including it5 income and expenditure, for the year then ended,.
have been properly prepared in accordance with UK accounting standards, including FRS 102 The Financiol
Reporting Standard opplicuble in the UK ond Republic of Ireland,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI I"ISAs IUKI") and
applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under.
and are independent of the group in accordance with, UK ethical requirements including the FRC Ethical
Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our
opinion.
Going concern
The trustees have prepared the financial statements on the going concern basis as they do not intend to
liquidate the group or the charitable company or to cease their operations, and as they have concluded that
the group and the charitable companty5 financial posltion means that this is realistic. They have also concluded
that there are no material uncertainties that could have cast significant doubt over their ability to continue as
a going concern for at least a year from the date of approval of the financial statements I'the going concern
period").
In our evaluation of the trustees, conclusions, we considered the inherent risks to the charitable company's
financial resources or ability to continue operations over the going concern period.
Our conclusions based on this work=
we consider that the trustees, use of the going concern ba515 of accounting in the preparation of the
financial statements is appropriate,.
we have not identified, and concur with the trustees, assessment that there is not, a material uncertainty
related to events or condition5 that, individually or collectively, may cast significant doubt on the group or
the charitable company's ability to continue as a going concern for the going concern period.
However, as we cannot predict all future event5 or conditions and as subsequent events may result in outcomes
that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions
are not a Buarantee that the Eroup or the charitable company will continue in operation.
li

Independent auditor's report to the members of England and Wales Cricket Trust
(continued)
Fraud and breaches of laws and regulations- ability to detect
Identifying ond responding to risks of mttterlol misstatement due tofraud
To identify risks of material mlsstatemÈnt due to fraud I'fraud risks") we assessed events or conditions that
could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk
assessment procedure5 included..
Enquiring of Trustees, other management and legal department and inspection of policy documentation as
to the charitable company's high-level policies and procedures to prevent and detect fraud and the
charitable company's channel for"whistleblowing", as well as whether they have knowledge of any actual,
suspected or alleged fraud.
Considering remuneration incentive schemes and performance targets.
Using analytical procedures to identify any usual or unexpected relationships.
As required by auditing standards, and taking into account our overall knowledge of the control environment,
we perform procedures to address the risk of management override of controls. On this audit, we have not
identified any fraud risk.
We performed procedures including..
Identifying journal entries and other adjustments to test based on risk criteria and comparing the identified
entries to supporting documentation. These included those posted to unusual accounts to cash balances.
Identifying and responding to risks of muterial misstatement due to non-complionce with laws ond ￿gUIl)tIons
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the
financial statements from our general commercial and sector experience through discussion with the trustees
and other management las required by auditing standardsl, and discussed with the trustees and other
management the policies and procedures regarding compliance with laws and regulations.
We communicated identified laws and regulations throughout our team and remained alert to any indications
of non-compliance throughout the audit.
The potential effect of these laws and regulations on the financial Statements varies considerablv.
Firstly, the charitable company is subject to law5 and regulations that directly affect the financial statements
including financial reporting legislation (including related legislation), distributable profits legislation and
taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our
procedures on the related financial statement items.
Secondly, the charitable company is subject to many other laws and regulations where the consequences of
non-compliance could have a material effect on amounts or disclosure5 in the financial statements, for instance
through the imposition of fines or litigation. We identifled the following areas as those most likely to have such
an effect: health and safety, anti-bribery and employment law, recognising the nature of the charitable
company's activities. Auditing standards limit the required audit procedures to identify non-
12

Independent auditor's report to the members of England and Wales Cricket Trust
(continued)
Fraud and breaches of Saws and regulations- ability to detect Icontinuedl
compliance with these13ws and regulations to enquiry of the trustees and other management and inspection
of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed
to us or evident from relevant correspondence, an audit will not detect that breach.
Context of the ability of the oudit to detectfroud or breoches of low or regulotion
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulation5 is from the event5 and transactions reflected in the financial statements, the less likely the
inherently limited procedures required by auditing standards would identify it.
In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve
collusion, forEery, intentional omissions, misrepresentations, or the override of internal controls. Our audit
procedures are designed to detect material misstatement. We are not responsible for preventing non-
compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
Other information
The trustees are responsible for the other information, which comprises the Trustees, Annual Report. Our
opinion on the financial statements does not cover the other information and, accordingly. we do not express
an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether, based on our financial
statements audit work, the information therein is materially misstated or inconsistent with the financial
statement5 or our audit knowledge. 8ased solely on that work..
we have not identified material misstatements in the other information-
in our opinion the information given in the Trustees, Annual Report, which constitutes the strategic
report for the financial year, is corbsistent with the financial 5tatement5,' aTbd
in our opinion that report been prepared in accordance with the Companies Act 2006.
Matters on which we are required to report by exception
Under the Companies Act 2006 we are required to report to you if, in our opinion..
the charitable company has not kept adequate accounting records or returns adequate for our audit have
not been received from branches not visited by us,. or
the charitable company financial statements are not in agreement with ihe accounting records and
returns,. or
certain disclosure5 of trustees, remuneration specified by law are not made; or
we have not receNed all the information and explanations we require for our audit.
We have nothing to report in these respects.
13

Independent auditor's report to the members of England and Wales Cricket Trust
(continued)
Trustees, responsibilities
A5 explained more fully in their statement set out on page 10, the trustees (who are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view. such internal control as they determine
is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error,. assessing the group's and the charitable company's ability to continue as a going
concern, disc105ing, as applicable, matters related to going concern,. and using the going concern basi5 of
accounting unle55 they either intend to liquidate the group or the charitable company or to cease operations,
or have no realistic alternative but to do so.
Audltor's responslbllitles
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to i55ue our opinion in an audito¢s report.
Reasonable assurance is a high level of assurance, but doe5 not guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of the financial statements.
A fuller description
www.frc.or
.uk
auditorsres
of
our
responsibilitie5
provided
on
the
FRC'S
website
at
The purpose of our audit work and to whom we owe our responslbllltles
This report Is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might State to the
charitable company's members those matters we are required to state to them in an auditorfs report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and its members, as a body, for our aUd￿t work, for this report, or for the
opinions we have formed.
Jonathan Russell {Senior Statutory Auditor)
for and on behalf of KPMG LLP, Statutory Auditoy
CharteredAccountantS
IS Canada Square
London
E14 5GL
27April 2023
14

England and Wales Cricket Trust
(A cornpany limited by guarantee)
Statement of Financial Activities
For the year ended 31 January 2023
Unrestricted
funds
Restricted
funds
2023
2022
Notes
Income
Donations and legacies
Income from charitable activitiÈs
Income from investments
Other income
44,000,000
974,387
38,973
450,000
io
617,651
617,651
741,907
10,000
741,907
10,000
Total income
751,907
617,651
1,369.558 45,463,360
Expenditure on
Raising funds
Charitable activities
Other expenditure
{31,889)
131,889}
127,2201
4, 10 {28.657,404} 1617,6511 {29,275,055) 123,611,359)
1440,3581
{440,358}
1389,4021
Total expenditure
{29,129,6511 1617,6511 {29.747.302) 124,027,981)
Net gainlllossl on investments
11,7301
11,7301
133,9281
Net incomellexpenditurel
128,379,474)
128,379,474) 21,401,451
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
67,296,490
67,296,490 45,895,039
Total funds carried forward
9 38,917.016
38,917.016 67,296,490
The Trust's income and expenses relate to both unrestricted and restricted funds and continulng charltable
operations. The restricted funds are described in note 10.
The statement of financial activities also complies with the requirements for an income and expenditure
account under the Companies Act 2006.
The Trust has no recognised gains or losses other than the net increase in funds for the year.
15

England and Wales Cricket Trust
{A company limited by guarantee)
Balance Sheet
As at 31 January 2023
2023
2022
Notes
Fixed assets
Investments
37,079,927 20,719,878
Current assets
Cash at bank
Investments
Prepayments
Social investments: amounts falling due
within one year
Social investments-. amounts falling due
after more than one year
Debtors: amounts falling due within one
year
5,286,781 47,721,051
159,705
1,059,544 1,188,713
2,272,675 2,369,062
56,470
96,500
8,675,470 51,535.031
Current Liabilitie5
Amounts falling due within one year
16,838,381114,958,4191
Net current assets
1,837,089 46,576,612
Totsl assets less current liabilities
38,917,016 67,296,490
The funds of the charitv
Unrestricted income funds
Restricted income funds
38.917.016 67,296,490
io
Total funds
38,917,016 67,296,490
These financial statements of England and Wales Cricket Trust, company registration number 5483977,
were approved on 19April 2023.
IJJ
lan Lovett
Trustee
Scott Smith
Trustee
16

England and Wales Cricket Trust
(A company limited by guarantee)
Notes to the Financial Statements
As at 31 January 2023
Accounting policies
Basis of preparation
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards, the applicable requirements of the Statement of Recommended Practice ISORPI
'Accounting ond Reportin9' by Charities, FR5102, the Trust Deed, and the Companies Act.
The particular accounting policies adopted are described below and have been applied consistentlv
throughout the year and the preceding year.
Per FRS 102, 3 public benefit entity IPBEI is an entity whose primary purpose 15 for public and social
benefit and not to provide a financial return to Its shareholders. The Trustees have assessed that the
Company meet5 this definition, thus have accounted for any interest free loans as concessionary
loans under section PBE34 of FRS 102 for the purposes of these financial statements.
England and Wales Cricket Trust (the 'Company"l is a private company limited by guarantee and
incorporated, domiciled and registered in England, in the United Kingdom.
These financial statements were prepared in accordance with Financial Reporting Standard 102 The
Finunciol Reporting Stondord applicable in the UK and Republic of Ireland l FRS 102,1 as issued in
August 2014. The presentation currency of these financial statements is sterling. All amounts in the
financial statements have been rounded to the nearest £.
The Company's ultimate controlling party, England and Wales Cricket Board Limited, includes the
Company in its consolidated financial statements. The consolidated financial statements of England
and Wales Cricket Board Limited are prepared in accordance with Financial Reporting Standard 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland I'FRS 102,1 and are
available to the public and may be obtained from Lord's Cricket Ground, London, NW8 8QZ. In these
financial statements, the company is considered to be a qualifying entity Ifor the purposes of this
FRSI and has applied the exemptions available under FRS 102 in respect of the following disclosures..
Cash flow statement-
Transactions with Key Management Personnel;
Related party transactions entered into between two or more members of a group (for
wholly-owned subsidiariesl.
The EC8 made a significant contribution to the Trust at the end of the 2022 financial year. The
trustees have a reasonable expectation that the Trust has adequate resources to continue in
existence for the foreseeable future. For this reason, the trustees continue to adopt the going
concern basis in preparing the accounts.
As the Trust is funded by reserves, which at present are adequate to cover more than the next 12
months of budgeted expenditure, there are currently no anticipated issues around going concern,
although the Trusts 3ctlvities may be modified to best assist the recreational game in the future.
As EWCT relies on these reserves to fund its activities, it is not reliant on significant income over the
next 12 month5.
17

England and Wales Cricket Trust
{A company limited by guarantee)
Notes to the Financial Statements
Year ended 31 January 2023
Accounting policie5 Icontinuedl
Incoming resources
Income Is recogni5ed when the charity ha5 entitlement to the funds, any performance conditions
attached to the itemlsl of income have been met, it is probable that the income will be received and
the amount can be measured reliably.
All incoming resources are included in the Statement of Financial Activities I'SOFA'I when the Trust
is legally entitled to the income, is reasonably certain of receipt and the amount can be measured
with sufficient reliability.
Donations and legacies are recognised in the SOFA in the period in which they are received and paid.
Income from charitable activities
Grant funding from Sport England is recognised in the period to which it relates
and matched to the appropriate grant expenditure in England.
Investment income,. interest on funds held on deposit is included when receivable, andlor
the amount can be measured reliably by the charity,. this is normally upon notification of the
interest paid or payable by the Bank and is requested at year-end.
Grants payable are made to third parties in the furtherance of the charitable objectives of the Trust,.
either revenue grants Icounty Cricket Boards and cricketin8 chaiitiesl or capital grants (cricket clubs
and other appropriate applicant5, e.g. local authorities).
Revenue grants
The Trust's intention to pay a certain level of Erants to County Cricket Boards ICCBSI and cricketing
charities is set out in the new 2021-24 County Partnership Agreement ICPAI, and a schedule of
payments was sent out to each CCB at the start of the period.
Capital grants
EWCT Strategic Grants are paid to applicants from a set budget, allocated nationally and
Strategic objective. The individual grants are recognised once an offer letter has been made
for the club to sign and return.
EWCT County Grants are paid to applicants from a formula-based budget allocated to County
Cricket Boards and Foundations. This budget is spread across the 2022 and 2023 financial
vears due to the delayed launch of the funding programme.
18

England and Wales Cricket Trust
(A company limited by guarantee)
Notes to the Financial Statements (continued)
Year ended 31 January 2023
Accounting policie5 (continued)
Emergency Fund Brants are pald as required from the Trust's accumulated investment
income with an additional budget allocation. The grants are recognisÈd once an offer letter
has been made for the club to sign and return.
Allocation of support and governance costs
Support costs have been allocated between Eovernance costs and other support costs. Governance
costs comprise all costs involving the public accountability of the charity and its compliance with
reEulation and good practice. These costs include costs related to statutory audit and legal fees
together with an apportionment of overhead and support costs.
Governance costs and support COSts relating to charitable activities have been apportioned based on
the number of individual grant awards made in recoEnition that the administrative costs of awarding,
monitoring and assessing loans and different categories of grants are broadly equivalent. The
allocation of support and governance costs is analysed in note 4.
Conce5sionary loans
England and Wale5 CricketTrust makes interest free loans to third parties which are repayable in line
with agreed upon payment schedules. In line with FRS102 PBE34, Concessionary Loans are initially
measured at the amount received or paid. In subsequent years, the carrying amount of
concessionary loans in the financial statements is adjusted to reflect any accrued interest payable or
receivable. To the extent that a loan is irrecoverable, an impairment loss is be recognised in the
Statement of financial activities.
Accounting convention
These accounts are prepared under the historical cost conventlon.
Company Status
The Trust is a Company limited by guarantee.
The Member of the Trust IEngland and Wales Cricket Board) undertakes to contribute a sum not
exceeding £1 to the assets of the Trust if it is wound up during its membership or within one year
afterwards.
Resources expended
All expenditure is accounted for on an accrua15 basis and has been classified under headings that
aggregate all costs related to that category. Where costs cannot be directly attributed to particular
headings they have been allocated to activities on a basis consistent with use of resources.
Grants are charged to the statement of financial activities when a constructive obligation exists not
withstanding that they may be paid in future accounting periods.
Governance costs are the costs a55ociated with the governance arranEements of the Trust which
relate to the general running of the Trust as opposed to those costs associated with fundraising or
charitable activity. Included within this category are costs associated with the strateBiC as opposed
to day-to-day management of the Trust's activities. Charitable activities include costs of grants.
19

England and Wales Cricket Trust
IA company Simited by guarantee)
Notes to the Financial Statements {continued)
Year ended 31 January 2023
Accountlng pollcles Icontlnuedl
Funds
Unrestricted funds are funds that are available for use at the discretion of the Trustees in furtherance
of the general objectives of the Trust and which have not beet) designated for other purposes.
Restricted funds relate to funds received from donors for specified purpose5.
Tax
England and Wales Cricket Trust is a registered charity and, as such, is exempt from taxation on its
income to the extent that the income is applied to its charitable purp05es.
Investments
Investments are held in the form of cash deposit5 and are determined a5 current or non-current on
the basis of whether they are planned to be reinvested over the next 12 months. Deposits with an
intended investment term of longer than one year are classified as non-current investments.
Result for the year
2023
2022
Net incomellexpenditurel for the yeai
128,379,474121,401,451
Stated after charging..
Fee5 payable to the company's auditor for the audit of the company's
annual accounts linclusive of VATI
17,480
12,400
Ultimate controlling party
The England and Wales Cricket Trust is a company limited by guarantee, so has no share capital. On
the basis that the Trust is considered to be a subsidiary of the England and Wales Cricket Board
Limited, its financial results and position are con501idated into the group accounts of England and
Wales Cricket Board Limited. Copies of these group accounts can be ohtained from Lord's Cricket
Ground, London NW8 8QZ.
20

England and Wales Cricket Trust
(A company limited by guarantee)
Notes to the Financial Statements {continued)
Year ended 31 January 2023
Resource5 expended
2023
2022
Charitable activities
Unrestricted funds
Grants to County Boards
Grants to critketing charities
Grants to cricket clubs and organisations
11,289,068 11,597,745
3,777,725 3,329,820
13,590,611 7,709,407
28,657,404 22,636,972
Restricted funds
Sport England - Club Grants
Sport England Grants to Cricketing Charities
504,151
113,500
717,374
257,013
617.651
974,387
Governance costs
Expenditure on raising funds
440,358
31,889
389,402
27,220
Totsl resources expended
29,747,302 24,027,981
Revenue grants to the 39 County Cricket Board5 contribute to their running costs, plus delivery of
local cricket lincluding competitions) for all ages and abilities.
Grants are made to specialised institutions to assist them in delivering their cricket programmes.
Facilities grants to cricket clubs comprise a major grant5 scheme1Strategic Grants Fund) for larger-
scale f3cility improvements,. a smaller grants scheme Icounty Grants Fund) for awards from £1,000
to £10,000 for specific projects,. an emeoency fund for clubs affected by a crisis, for example
flooding.
Revenue grant5 to cricket clubs comprise an inclusive cricket grant I#Funds4Runsl, pald to cricket
provider5 in urban and/or deprived area5,' a fixed-amount grant Ilnspired to Playl to extend affiliated
cricket clubs, offer for women and children,. and a fixed-amount grant (Disability Champion Clubs)
which rewarded clubs retr05pectively that introduced new disability cricket programmes. A list of
grants is available from the Englarbd and Wales Cricket Trust.
21

England and Wales Cricket Trust
{A company limited by guarantee)
Notes to the Financial Statements {continued)
Year ended 31 January 2023
Resources expended Icontinuedl
The Trustees did not receive any emoluments in respect of their services to the Trust during the year
or prior year.
No Trustees received reimbursement in Telation to out of pocket expenses for travel and subsistence
during the period Ino Trustees were paid in 2021/20221.
Analysls ol support and governance costs
The Trust initially identifies the costs of its support functions. It then identifies those costs which
relate to the governance function. RefÈr to the table below for the basis for apportionment and the
analysis of support and governance costs.
General 5UPPOrt
Governance
Function/general
Total
Basi5 of
apportionment
Audit costs
17,480
17,480
Governance
Legal
5,571
5.571
Specific legal
Tax advlte fees
Governance
Club insurance
scheme
management fees
462,641
462,641
General Support
General
allowance for
doubtful debt
(loan scheme)
145,6191
145,6191
Loans scheme
Trustee expenses
Governance
Bank charges
285
285
Governance
TOTAL
417,022
23,336
440,358
Investment5
Non-current.. All non-current investments comprise cash deposits with intended investment terms
of longer than one year.
Current.. All current investments comprise cash deposits with investment terms of less than one
year.
22

EnEland and Wales Cricket Trust
(A company limited by guarantee)
Notes to the Financial Statements {continued)
Year ended 31 January 2023
Social investments
2023
2022
Amounts falling due within one yeay:
Interest free loans to cricket clubs
Emergency COVID-19 interest free loans to cricket clubs
and leagues
1,006,286 1,016,115
53,258
172,598
Total amount falling due within one year:
1,059,544 1,188,713
Amounts falling due after more than one year:
Interest free loans to cricket clubs
Emergency COVID-19 interest free loans to cricket clubs
and leagues
2,240,039 2,288,843
32,636
80,219
Total amount falling after more than one year:
2,272,675 2,369,062
As at 31 January 2023, interest free loans to recreational cricket clubs since the Scheme began totalled
£11,436,67412022.' £10,465,724). In addition, loan offer5 made to club5 but not yet advanced totalled
£106,50012022.. £140,8721. In 2022123 £141,524 311owance for doubtful debts has been made 12022..
£187,143), which constitutes both a general provision of 2.5% of the outstandin8 loan balance older than
3 years plus a specific provision.
2023
2022
Programme related Investments (loans)
Loans outstanding at start of year
Less loan repayments during year
New loans advanced during year
3,492.101
3,212,072
11,075,202) 1364,2861
970,950
644,315
Loans outstanding at end of year
Provision for doubtful debts
3,387,849
3,492,101
{141,5241 1187,1431
Loans outstanding at end of year
3,246,325
3,304,958
23

England and Wales Cricket Trust
(A company limited by guarantee)
Notes to the Financial Statements (continued)
Year ended 31 January 2023
Social investments Icontinuedl
2023
2022
COVID-19 related investment5 (loans)
Loans outstanding at start of year
New loans advanced during year
Less loan repayments during year
252,817
295,316
17,904
160,4031
1166.9231
Loans outstanding at end of year
Provision for doubtful debts
85.894
252,817
Loans out5tandin8 at end of year
85,894
252,817
Debtors
2023
2022
Amounts falling due wlthin one year:
Partnership funding
County Board Debtois
Club Debtors
41,156
90,000
15,314
6,500
56,470
96,500
Creditors
2023
2022
Amounts falling due within one year:
Accruals Igrant claims received before year end and audlt
feesl
Creditors
Deferred income
631,482
1,844,427
6,206.899
2,6SO,997
462,995
6,838,381
4,958,419
24

England and Wales Cricket Trust
(A company limited by guarantee)
Notes to the Financial Statements (continued)
Year ended 31 January 2023
Fund balances
Analysi5 of movements in unrestricted funds
Balances
a5 at start Incomlng
of year
resources
Balances as
at end of
year
Resourtes
expended Transfers
General fund
Designated Emergency fund
66,702,793
593,697
711,204 128,600,757)
38,973
1528,8941
38,813,240
103,776
Total funds 202212023
67,296,490
750,177 129.129.651)
38,917,016
Total funds 202112022
45,895,039 44,455,045 123.053.594)
67,296,490
The unrestricted fund includes all general donations.
10. Analysls of movements in restricted funds
Balances
asatstart
of the Incomlng Resources
year resources expended
Balances as
at end of
Transfers
year
Sport England
617,651 1617.6511
Total 202212023
617,651 1617,651)
Total 202112022
974.387 1974,3871
Name of restricted fund
Sport England
Descriptlon, nature and purposes of the fund
The fund5 are required to be used to aid the delivery of development
programme5 and monitoring processes in line with the Trust's national policy.
11. Related parties
The Company has taken advantage of the exemption in section 33.IA of FRS 102 from disclosing
tran53Ctions Wlth its ultimate controlling party, the ECB. There were no transactions with other related
parties during the year.
25