PROFESSIONAL CRICKETERS' TRUST LIMITED
Charity registration number 1120088
Company registration number 06249546 (England and Wales) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PROFESSIONAL CRICKETERS' TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr G Davies | |
|---|---|---|
| Mr D K H Mitchell | ||
| Mr M Trescothick MBE | ||
| Mr D Ford | ||
| Mr I Thomas | ||
| Mr R K Lynch | ||
| Mr J A R Harris | (Appointed 25 February | |
| 2021) | ||
| Secretary | Mr G Davies | |
| Charity number | 1120088 | |
| Company number | 06249546 | |
| Registered office | 1 Brassey Road | |
| Old Potts Way | ||
| Shrewsbury | ||
| Shropshire | ||
| SY3 7FA | ||
| Independent examiner | Dyke Yaxley Limited | |
| 1 Brassey Road | ||
| Old Potts Way | ||
| Shrewsbury | ||
| Shropshire | ||
| SY3 7FA | ||
| Bankers | National Westminster Bank | |
| PO Box 414 | ||
| 38 Strand | ||
| London | ||
| WC2H 5JB |
PROFESSIONAL CRICKETERS' TRUST LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Summary income and expenditure account | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 18 |
PROFESSIONAL CRICKETERS' TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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."
Objectives and activities
The objects of the charity are to promote the relief of physical and mental illness and disability, addictions and hardship of both men and women who are involved or were formerly involved in the playing of cricket professionally in England and Wales (members of the Professional Cricketers’ Association) and their dependants who, for whatever reason, are in need of such relief.
To provide mental health education and addiction awareness for all past and present Professional Cricketers’ Association members; further, to create roles to educate and bring awareness of such matters to adults and children in the wider general public.
To advance education and personal development opportunities for all past and present members of the Professional Cricketers’ Association.
To promote physical education, health and the game of cricket generally to adults and children as a recreational sport.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. The trustees consider the objectives and activities of the charity are of a public benefit.
Grant making policy
All grant applications are subject to an assessment to ensure they meet the basic criteria for funding within the objectives of the Charity. Applicants must be prepared to provide such other information as the Trustees may reasonably require in order to assist them in their decision-making process. Grants will be considered by the Trustees at their meetings, with urgent applications considered as soon as possible.
Achievements and performance
Few careers carry so much uncertainty as that of a professional cricketer but thanks to the Professional Cricketers' Trust, past and present players have a vital support network which helps them to prepare for and readjust in the world beyond cricket. The work supporting members has continued throughout the year together with the continual development of the structures of the charity.
During the year the Charity received donations and legacies of£453,935 (2020: £137,466) and income of £9,606 (2020: £8,734) from investments which, after the deduction of expenditure of £285,575 (2020: £299,123) and an increase of £42,352 (2020: £23,142) from the revaluation of investments, gave rise to a net surplus for the year of £220,318 (2020: deficit of £129,781). Total reserves as at 31 December 2021 were £814,357 (2020: £594,039).
Financial review
Reserves
The Trustees are of the opinion that the resources they retain and anticipate receiving in the future will enable it to meet effectively the current and future requirements of the Charity.
Investment policy
The Trustees are authorised to invest the assets of the Charity in whatever way they believe to be in the interests of the Charity and its objectives.
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PROFESSIONAL CRICKETERS' TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Risk management
The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to ensure the minimisation of those risks. The financial position of the Charity is robust, resources are sufficient to meet eventualities that may arise for the foreseeable future.
Covid-19
Lockdown and subsequent virus control due to Covid 19 impacted on the charity in 2020 resulting in it having to suspend many of its fundraising and promotional activities and led to a substantial loss for the year. As the general situation gradually returned to normal, such activities were reactivated so that income through donations and legacies returned to pre Covid levels during 2021 leading to satisfactory results for the year. The Charity’s reserve policy is such that it has sufficient reserves, as well as expenditure control, to not present a going concern issue.
Plans for future periods
Future activities
The Board of Trustees regularly review fundraising to ascertain that the current fundraising model is sustainable and that it has potential for growth. Innovation and any necessary changes will be put in place as decided by the trustees.
Structure, governance and management
Professional Cricketers' Trust Ltd is a company limited by guarantee governed by its Memorandum and Articles of Association dated 16 May 2007, as updated 30 December 2019. It is registered as a Charity with the Charity Commission. The members agree to contribute £1 each in the event of the Charity winding up.
On 29 August 2018 PCA Benevolent Fund Limited changed their name to Professional Cricketers’ Trust Ltd.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr G Davies
Mr D K H Mitchell Mr M Trescothick MBE Mr D Ford Mr I Thomas Mr R K Lynch Mr J A R Harris (Appointed 25 February 2021)
Appointment of trustees
New trustees are appointed by the existing trustees. The Articles of Association provides for minimum of 1 trustee and no maximum, unless determined by the company in a general meeting.
Long serving Trustees
The following have been Trustees for the Trust for over 9 years; Mr G Davies (15 years) and Mr D Ford (14 years).
Organisation
The Board of Trustees meet on a quarterly basis to receive reports from fundraisers, individual cases requiring support and to consider the management accounts. The overall strategy of the Charity is decided at these meetings.
Trustee induction and training
New trustees undergo a meeting to brief them on: their legal obligation under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
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PROFESSIONAL CRICKETERS' TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Related Parties and co-operation with other organisations
None of the trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior management of the charity with a related party must be disclosed to the full board of trustees.
The Trustees’ report has been approved by the Board of Trustees and is signed on their behalf by:
..............................
Mr G Davies
Trustee
Date: .............................................
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PROFESSIONAL CRICKETERS' TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PROFESSIONAL CRICKETERS' TRUST LIMITED
I report to the charity trustees on my examination of the financial statements of Professional Cricketers' Trust Limited (the charity) for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
The Trustees have engaged Dyke Yaxley, a firm of which I am a director, to provide financial administration services to the charity. I have considered the guidance contained in the FRC's Revised Ethical Standard and concluded that the provision of such services does not pose a threat to my integrity, objectivity and independence as an examiner, and does not impact on my ability to carry out this independent examination.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mr I Walsh FCA
Dyke Yaxley Limited
1 Brassey Road Old Potts Way Shrewsbury Shropshire SY3 7FA
Dated: .........................28 September 2022
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PROFESSIONAL CRICKETERS' TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Endowment funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 2 453,935 - Investments 3 9,606 - Total income 463,541 - Expenditure on: Raising funds 4 98,214 - Charitable activities 5 187,361 - Total expenditure 285,575 - Net gains/(losses) on investments 10 - 42,352 Net incoming/(outgoing) resources before transfers 177,966 42,352 Gross transfers between funds (4,013) 4,013 Net movement in funds 173,953 46,365 Fund balances at 1 January 2021 153,746 440,293 Fund balances at 31 December 2021 327,699 486,658 |
Total Unrestricted Endowment Total funds funds 2021 2020 2020 2020 £ £ £ £ 453,935 137,466 - 137,466 9,606 8,734 - 8,734 463,541 146,200 - 146,200 98,214 42,507 - 42,507 187,361 256,616 - 256,616 285,575 299,123 - 299,123 42,352 - 23,142 23,142 220,318 (152,923) 23,142 (129,781) - (7,695) 7,695 - 220,318 (160,618) 30,837 (129,781) 594,039 314,364 409,456 723,820 814,357 153,746 440,293 594,039 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| All income funds | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Gross income | 463,541 | 146,200 |
| Transfer to endowment funds | (4,013) | (7,695) |
| Total income in the reporting period | 459,528 | 138,505 |
| Total expenditure from income funds | 285,575 | 299,123 |
| Net income/(expenditure) for the year | 173,953 | (160,618) |
- 6 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Notes Fixed assets Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Capital funds Endowment funds-general General endowment funds Revaluation reserve 15 Income funds Unrestricted funds |
2021 £ 16,858 382,496 399,354 (71,655) 367,183 119,475 |
£ 486,658 327,699 814,357 486,658 327,699 814,357 |
2020 £ 14,168 239,267 253,435 (99,689) 338,776 101,517 |
£ 440,293 153,746 |
|---|---|---|---|---|
| 594,039 | ||||
| 440,293 153,746 |
||||
| 594,039 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Mr G Davies Trustee
Company registration number 06249546
- 7 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
Professional Cricketers' Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 Brassey Road, Old Potts Way, Shrewsbury, Shropshire, SY3 7FA. The charity is a registered charity with the Charity Commission in England and Wales, number 1120088.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Resources expended are shown in the period in which they are incurred and include VAT which is not recoverable.
- 8 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.6 Fixed asset investments
Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/ (expenditure) for the year. Transaction costs are expensed as incurred.
The charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and the changes in sentiment concerning equities and within particular sectors or sub sectors.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
2 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 453,935 | 132,466 |
| Legacies receivable | - | 5,000 |
| 453,935 | 137,466 |
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PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
3 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Income from listed investments | 9,606 | 8,732 |
| Interest receivable | - | 2 |
| 9,606 | 8,734 |
4 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Fundraising and publicity | ||
| Fundraising consultancy | 22,068 | 27,666 |
| Fundraising fees | 6,108 | 3,082 |
| Staging fundraising events | 59,383 | 2,353 |
| Advertising | 5,061 | 4,547 |
| Fundraising and publicity | 92,620 | 37,648 |
| Investment management | 5,594 | 4,859 |
| 98,214 | 42,507 |
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PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
5 Charitable activities
| Delivery of a service Events and courses Consultancy Grant funding of activities (see note 6) Share of support costs (see note 7) Share of governance costs (see note 7) |
2021 £ 74,300 9,431 12,658 96,389 78,749 1,015 11,208 187,361 |
2020 £ 74,300 9,207 5,322 |
|---|---|---|
| 88,829 159,770 1,473 6,544 |
||
| 256,616 |
6 Grants payable
| Grants to institutions: Professional Cricketers' Association Grants to individuals |
2021 £ 40,000 38,749 78,749 |
2020 £ 48,000 111,770 |
|---|---|---|
| 159,770 |
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PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
7 Support costs
| Support costs Governance costs £ £ Equipment rental 432 - General overheads 583 - Accountancy - 8,000 Trustees' expenses and meeting costs - 3,208 1,015 11,208 Analysed between Charitable activities 1,015 11,208 |
2021Support costs Governance costs £ £ £ 432 432 - 583 1,041 - 8,000 - 6,194 3,208 - 350 12,223 1,473 6,544 12,223 1,473 6,544 |
2020 £ 432 1,041 6,194 350 |
|---|---|---|
| 8,017 | ||
| 8,017 |
During the year consultancy costs and fundraising costs from general overheads have been reclassified to charitable activities and costs of raising funds respectively.
Governance costs includes fees for accountancy services of which £2,900 (2020: £2,594) is for independent examination fees and the balance of fees is for the delivery of financial administration and consultancy services by Dyke Yaxley.
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
Two trustees were reimbursed a total of £693 (two trustees 2020: £261) in respect of travel expenses incurred in the performance of their duties as trustees.
During the year the charity received donations from the trustees, without conditions totalling £1,360 (2020: £nil).
9 Employees
During the year there were the following employees:
| During the year there were the following employees: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Directors/ Trustees | 7 | 7 |
There were no employees whose annual remuneration was more than £60,000.
- 12 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
10 Net gains/(losses) on investments
| Endowment | Endowment | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Revaluation of investments | 42,352 | 23,142 |
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
11 Fixed asset investments
| Listed investments Cash in portfolio £ Cost or valuation At 1 January 2021 438,779 1,514 Additions 64,555 6,474 Valuation changes 42,352 - Disposals (67,016) - At 31 December 2021 478,670 7,988 Carrying amount At 31 December 2021 478,670 7,988 At 31 December 2020 438,779 1,514 12 Debtors 2021 Amounts falling due within one year: £ Trade debtors 12,245 Other debtors 4,613 16,858 |
Total £ 440,293 71,029 42,352 (67,016) |
|---|---|
| 486,658 | |
| 486,658 | |
| 440,293 | |
| 2020 £ 10,827 3,341 |
|
| 14,168 |
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PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 13 Creditors: amounts falling due within one year Notes Deferred income 14 Trade creditors Other creditors Accruals and deferred income 14 Deferred income Other deferred income Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January 2021 Released from previous periods Resources deferred in the year Deferred income at 31 December 2021 |
2021 2020 £ £ 42,502 27,463 1,578 77 9,084 30 18,491 72,119 71,655 99,689 2021 2020 £ £ 42,502 27,463 2021 2020 £ £ 42,502 27,463 27,463 38,150 (9,961) (11,407) 25,000 720 42,502 27,463 |
|---|---|
Deferred income included in the accounts relates to income for specific events to be held in future years.
- 14 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
15 Endowment funds
On the 13 November 2013 the Professional Cricketers Association Charity, charity registered number 286742, was removed from the Charity Commission register and all assets of the Professional Cricketers Association Charity were transferred to the Professional Cricketers' Trust Ltd. The endowment should remain intact for the ten years to 12 November 2023, but the income can be used without restriction for the charity’s general objectives. If within the ten year period any cricketer over the age of 55, or his dependents, require assistance and there is insufficient income to provide that assistance, then a distribution from capital will be allowed.
| Balance at 1 January 2020 r £ 409,456 409,456 |
Movement in funds Incoming esources Resources expended Transfers Revaluations gains and losses Balance at 1 January 2021 r £ £ £ £ £ - - 7,695 23,142 440,293 - - 7,695 23,142 440,293 |
Movement in funds Incoming esources Resources expended Transfers Revaluations gains and losses Balance at 31 December 2021 £ £ £ £ £ - - 4,013 42,352 486,658 - - 4,013 42,352 486,658 |
Movement in funds Incoming esources Resources expended Transfers Revaluations gains and losses Balance at 31 December 2021 £ £ £ £ £ - - 4,013 42,352 486,658 - - 4,013 42,352 486,658 |
|---|---|---|---|
| 486,658 |
- 15 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 16 Analysis of net assets between funds Unrestricted Funds Endowment funds 2021 2021 £ £ Fund balances at 31 December 2021 are represented by: Investments - 486,658 Current assets/(liabilities) 327,699 - 327,699 486,658 |
Total Unrestricted Funds Endowment funds 2021 2020 2020 £ £ £ 486,658 - 440,293 327,699 153,746 - 814,357 153,746 440,293 |
Total 2020 £ 440,293 153,746 |
|---|---|---|
| 594,039 |
17 Related party transactions
Transactions with related parties
| Sale of goods | Purchase of goods | Purchase of goods | ||
|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Professional Cricketers' Association | - | - | 2,106 | 4,866 |
| PCA Management Limited | - | - | 23,774 | 18,738 |
| - | - | 25,880 | 23,604 | |
| Donations received | Grants paid | |||
| 2021 | 2020 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Professional Cricketers' Association | 270 | - | 40,000 | 48,000 |
| PCA Events Limited | 20,257 | - | - | - |
| PCA Management Limited | 13,730 | - | - | - |
| 34,257 | - | 40,000 | 48,000 |
During the year, donations received from Professional Cricketers' Association and PCA Management Limited relate to amounts received by these two organisations on behalf of Professional Cricketers' Trust.
- 16 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
17 Related party transactions
(Continued)
| Amounts owed to | related | |
|---|---|---|
| parties | ||
| 2021 | 2020 | |
| £ | £ | |
| Professional Cricketers' Association | - | 30 |
| PCA Management Limited | 9,084 | - |
| 9,084 | 30 |
| Amounts owed by | related | |
|---|---|---|
| parties | ||
| 2021 | 2020 | |
| £ | £ | |
| PCA Events Limited | 375 | - |
| 375 | - |
- 17 -
PROFESSIONAL CRICKETERS' TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
17 Related party transactions
(Continued)
During the year the following trustees are also directors of PCA Management Limited:
Mr D Mitchell (resigned 28/09/2021) Mr I Thomas (resigned 28/09/2021) Mr R Lynch
Mr J Harris
During the year the following trustees are also directors of PCA Events Limited:
Mr R Lynch (appointed 23/07/2021) Mr I Thomas (appointed 23/07/2021)
The charity provides support for members of the Professional Cricketers’ Association, of which the following trustees are also officers:
Mr J Harris, Chairman (appointed 25/02/2021)
Mr R Lynch, Chief Executive
During the year the charity purchased consultancy services of £12,658 (2020: £5,322) from Mr D Graveney who is the charity’s president.
Mr G Davies, a Trustee, is also a consultant of Dyke Yaxley. During the year the charity purchased independent examination £2,900 (2020: £2,594), financial administration of £3,600 (2020: £3,600) and consultancy services of £1,500 (2020: nil).
- 18 -
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