ESSEX CRICKET FOUNDATION (a company liniited by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE IEAR ENDED 31 DECEMBER 2024 chlty registration number - 1138269 Company registration number - 07310112
ESSEX CIUCKEf FOUNDATION YEAR ENDED 31 DECEMBER 2024 ANNUAL REPORT AND FINANCIAL STATEMENTS CONTENrs Page Legal and administrative inforniation Trustees, report Independent examiner's report Statement of Financial Activities Balance Sheet Notes to the financial statements 10-14
ESSEX CRICKET FOUNDATION LEGAL AND ADMINISTRATIVE DETAILS Charfty Name Essex Cricket Foundation Charity registration number 1138269 Company registration number 07310112 Registered Office The Ambassador Cruise Line Ground New WrittLe Street Chelmsford Essex CM2 OPG Direetor8/ Th18tee8 J T Barnes M T Churchill - Chair G A Gooch OBE J E Hargreaves J C Heley R J C Hunt (resigned 28 August 2024) R l McLintock Canon Dr J A Spence CBE DL J P Stephenson (resigned 7 July 2024) Company Secr¢tary B W Elliott Banker8 aydesdale Bank plc Part 4Th Floor Veralum Point Station Way St Albans ALI SHE Barclays Bank plc 75 High Street Brentwood Essex CM14 4RP Independent Examlner Xeinadin The Old Grange Warren Estate Lordship Road Writtle Chelmsford Essex CMI 3wr
ESSEX CRICKET FOUNDATION YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT The Board of Trustees, who are also directors of the Company for the purpose of the Companies Act 2006, present their annual report and financial statements of the Charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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) (lanuary 2019). The company was incorporated on 9 July 2010 and held its first fundraisin8 event on 5 April 2011, Reference and administrative details of the Charity, its trustees and advisers The Charity registration number, the company registration number, the address of the Charity and details of its trustees and advisers are given on page l of these financÉal statements. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitutional structure Essex Cricket and Community Trust was incorporated as a company limxted by guarantee on 9 July 2010 and is registered in England and WaEes under number 07310112 and 15 also registered as a charity in England and Wales under number 1138269. Essex Cricket and Community Trust changed its name to Essex Cricket Foundation on 15 September 2015. The company is governed by its Memorandum and Articles of Association which set out the objects and powers of the charitable company. En the event of the company being wound up, the liability in respect of the guarantee is IAmited to llo per member of the company. Charitable objects and public beneflt When considering the aims and objectives of the charity the trustees have referred to the guidance published by the Charity Commission on public benefit. The Charity's objects are for the benefit of the public generally and, in particular, the inhabitants of Essex and its surrounding areas - To promote community participation in healthy recreation by providing facilities for the playing of cricket and other sports capable of improvin8 health, To provide and assist in providing facilitie5 for SPOTt, recreation or other leisure time occupation of such person5 who have need for such facilities by reason of their youth. age, infirmity or disablement, poverty or sociaI and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life, To advance the education of children and young people, with particular reference to those in schools and universities, through such means as the trustees think fit in accordance with the law of charity,
ESSEX CRICKEf FOUNDATION YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT Charitable objects and publi¢ benefit (¢ontinued) To relieve in ca5e5 of need, hardship or distress (including by providing goods, services, support and/or assistance, whether financial or otherwise) those persons who are living in or were foTmerly resident in Essex, For the general pwposes of such charitabIe bodies OT for such other exclusively charitable purposes in each case as the trustees may from time to time decide Organisatlonal Structure and appointment of trn8tees The members elect the charitable trustees (the Board of Directors under company law) and the trustees elect from their number a Chair. The Board of Trustees may fill vacancies during the year by appointing trustees themselves. The Board of Trustee8 The trustees of the company (for the purposes of the Companies Act 2006 also designated as Directors) as at the date of this report are shown on page l of these financial statements. All trustees give their time voluntarily and receive no benefits from the Charity, but reimbursement of reasonable and necessary expenses are made available. The appointment of the initial trustees was undertaken to obtain the appropriate mix of experience and expertise in the activities of the Charity, and this pr(Kess has continued as trustees have retired, and been replaced, Individual Trustees may undertake specific training in a particular aspect of Trusteeship and the Board continue to review the experience and expertise required and the need to provide training or appoint new Trustees to fill specific roles. The members of the Charity in general meeting appoint the trustees in accordance with the Articles. Statement of trustees, responsxbilities The trustees (who are also directors of Essex Cricket Foundation for the purposes of Company Law) are responsible for preparing the TTUStees Annual Report and the financial statements in accordance with applicable law and United Kin8dom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those fÈnancial Statements. the trustees are required to: Select suitable accounting policie5 and apply them consistentlyi Observe the methods and prlnciples in the Charities SORP 2019 (FILS 102)" Make judgments and accounting estimates that are reasonable and prudent,. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate
ESSEX CRICKEf FOUNDATION YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT Statement of trustee8' responsibilities (continued) The trustees are responsible for ensuring that proper accounttng records are kept which disclose with reasonable accuracy at any time the financÈal position of the charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking TeasonabKe steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: There is no relevant examination information 0£ which the charttable company's examiner is unawaTe' and The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant inforniation and to establish that the examiner is aware of that information. Financial review The mission of Essex Cricket Foundation {ECF) is to support the game of cricket in the communities of Essex, East London and East Anslia in providing finance and expertise to enable all to reach their potential in the local communities, County, Academy or Club cricket, through funding programmes for youth of all abilitiesi provide cricket opportunities in deprived areas and support disabled and minority groups. It aims to create the opportUDity for all to participate and enjoy the game of cricket through Club and community experience. Additionally to give support to former Essex cricketers due to financial hardship. ECF is the official Essex County Cricket Club charity and is an integral part of the Essex Cricket strategy of becoming the number I Cricket region where everyone has the opportunity to fly like an Eagle. by providing grants acTOSS a whole range of cricketing abilities. The over-riding theme of 'Fly Like an Eagle, strategy is that it embraces young people to develop their skills through the Graham Gooch Essex Cricket Academy, as well as local clubs mentoring young cricketers. ECF'S programmes embrace those with disabilities, those in deprived areas and the promotion of girl's and women's cricket. The main contributor to income of the Charity in previous years has been the activities of the Graham Cooch Scholarship Fund that generated income of £33,578 and received donations of £13,061 during the year. ECF received donations of £24,981 into the General Fund. In 2024 ECF made donations of £138,785 (2023: £153,679). The Club Academy was the principal beneficiary from the Graham Gooch Scholarship Fund, but grants were also made to the District Cricket Boards to enable them to coach and identify talented young cricketers who may eventually make an Essex squad. Financial support of £25,000 was provided for Street Cricket, DisabÉlity and Girl's cricket through programs organised and facilitated by Essex Cricket in the Community, which would not have been possible before the forniation of the Foundation. The Foundation also supported the East London Cricket Hub which has seen over 150,000 footfall the last year and the employment of an apprentice to support young people with education and employment. Total grants and donations nlade by the Foundation total £1,693,510 at 31 December 2024. In previous years the Trustees asreed to commit to SUPPOTt community cricket projects. This includes £25,000 for the Essex Cricket in the Community to carry out further Walking Cricket supporting mental health, girls and disability programmes, together with £2,000 which is provided to each of the Essex District Boards so that they can provide a development programme for youngsters through coaching and competition. Additionally the Graham Gooch Scholarship Fund supports the Club Academy with a minimum of £30,000 each year.
ESSEX CRICKET FOUNDATION YEAR ENDED 31 DECEMBER 2024 TRUSTEES. ANNUAL REPORT Financial review Icontinued) In 2024 the Foundation continued to play a key part tn the deveEopment of programmes across the county that linked into the Club's values of Excite, Engage and Enhance, the key focus areas for the work from the Foundation support links in the following key areas, Mental and Physical Health, Community Cohesion and Education/Employability. MentaE & Ph sical Health The Foundation support has enabled us to run a "One hit to another Hit" Rehab programme where around 20 indÉviduals have been engaged via developing leadership. safeguarding and first aid skills to help develop confidence in their rehabilitation. One individual now volunteers 6 days a week on different cricket pro8rammes. OUT Sporting Memories programme in Dagenham supports people with early onset of dementia and also loneliness as highlighted below. The Foundation also supported the setting up of Walking Cricket hubs around the county with over 50 senior community residents now able to break down isolation and lack of physical activity with weekly social cricket sessions and also coffee mornings encouraging people to meet and share lrfe experiences. Thi5 has now been Einked up with Sporting Memories focus on developing support around isolation and dementia. Communi Cohesion Linking up with our Breaking Boundaries and Core City Work as well as linking up with taking the learning from these areas the Foundation is supporting community PTograms that help to develop creating community cohesion across Gender, Diversity and Age, one such example is that of the support around a refugee programme in North Essex helping a group of refugees to settle into the local community. These range from mentoring days to small group activation and development, The work has staTted to see us link up with other stakeholders using the simple form of Tape Ball cricket to bring the communities together. As well as thi5, the Foundation also supports a number of county wide competitLons that bring people together from across the county to enjoy the benefit that cricket can have. En 2024 we had around 2000 participants, The Foundation has also supported the Desi Women programme that has helped inspire, train and engage over 300 women from Ethnic minority groups. The Foundation has supported the programme by supporting community celebrations and festivaIs. An ever increasing area for the Foundation has been the work around supporting the refugees within the county with sessions, equipment and opportunities now provided in a number of areas of the county. Education and Em abili In 2023 and 2024 the Foundation again supported the development of Women and Girl's cricket this was via supporting the running of the county pro8Tams across the county with over 150 girls engaged and with one of the beneficiaries going on to play for England in 2018. The Foundation also supported over 1800 sirls engaged in Girl Guide badges and the delivery of Cricket in secondary schools to over 30 schools. This has supported the growth of the number of women and girls sections in the County. The Foundation is also a key supporter in the development of ability cricket helping us to not onty run a club and county program with around 500 particxpants but also support in the training opportunities for particÉpants with coaching and other life skill qualifications. The Foundation is also a key supporter of the county Academy helping it to be one of the leading counties for the development of players linking into the clubs wider home grown philosophy, the role of the Foundation is key in the availability of the Education support officer for the players as they transition through the age groups not only in terms of cricket but theiT own educational into employment pathway too.
ESSEX CRICKEf FOUNDATION YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT Financial review (continued) Total income for the yeaT was £85,817 (2023: £93,677) and after deductins charitable donations and charity overhead expenditure, resulted in a deficit for the year of £84,118 (2023.. £92,600) before investment gains of £141,9T7 (2023: £90.145). The increase in net funds for the year was £57,859 (2023: decrease £2,455). ECF fund5 at the end of 2024 stood at £1,312.261, but much of this represents restricted and endowment fimds. The largest fund is the Graham Gooch Scholarship Fund, whde smaller funds provide support to formeT players who need financial OT medical support. In common with most other charities, the principal risk Currently facing us is generation of future fundraising income. As a result of our prudent financial management in the past, we have in place reserves which enable us to continue to operate for many months, but not indefinitely. The trustees are actively pursuing other possibEe Sources of fundin& including a Foundation Lottery. My thank5 to all the Trustees who give freely of their time and advice and to the staff of Essex Cricket, led by Dan Feist, who run the various initiatives we support Reserves policy In accordance with the Charities Statement of Recommended Practice {SORP) the terni reserves refers to that part of the Charity's income funds that 15 freely available. This definition therefore excludes restricted funds and that part of unrestricted funds not readily available. The Trustees retain funds in order to ensure that there are sufficient funds to renew existing programmes to support community projects as in the early stages of the formation of the Charity, they are reliant on fundraising which in the current economic environment can fall short of expectations. The Trustees also need to retain funds to support existing projects of the Youth Trust where it does not have the resources. The cost of these projects is currentIy £10,000 per annum and will eventually be met from unrestricted reserves. The Trustees have agreed to commit £35,000 next year to existing projects, of which a minimum of £22,500 will be met from unrestricted reserves. Unrestricted reserves Èn the accounts at 31 December 2024 were £65,343 (2023.. £68,769). This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 Telating to small companies. Approval of Annual Report This report was approved by the Board of Directors on 22 August 2025 and signed on its behalf by rchill air 22 August 2025
ESSEX CIUCKET FOUNDATION YEAR ENDED 31 DECEMBER 2024 Independent exathlneg$ report to the tNotees of E86ex Crlcket Foundalion E report to the chRty tswtees on my examination of the accounts of the company for the year ended 31 Decenther 2024, which #re set out on pa8&s 8 to 14. ReBponsibllille8 and ba$ls 0£ report As the Chlty trustees of the company (and also its direetors for the purposes of company law) you are responsÉble for the preparation of the accounts in accordance with the requiyements of the Companies Act 2006, Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act ona are eligible for independent examination, I report in respect of my examlnatlon of your COTnpany' accounts a8 carrled out under section 145 ot the Charltie8 Act 2011. In carrying out my examination I have £ollowed the dbections given by the Charity Commi88lon under secdon 145(5)(b) of the 2011 Act. Independ¢nt examlnerfs 8tatement L confRrm that l am qualJAed to undertake the examinatlon because l am a member of ICAEW, which Is one OE the Itsted bodies. I have Completed my exrLmination. I conlsrtn that no matters have come to my attÈntion in connection wxth the examination glvin8 me cau8e to belleve that in any mAterial respect., accountlng records were not kept In re8pect of the eotrLpany as required by section 386 of the 2006 ACL. or the accounts do not accord wlth those records. or the accounts do not comply wlth the accoiintlng iEqulrements of secdon 396 of the 2006 Act othor tha any requirement that the accounts give a'tnje and fair vlew, which is not a matter considered as payt OÉ an Independent examinAtlon,' or the iccowitg have not b*n Prepared in accordanee wlth the tnethods and prlnciple5 of the Ststement of Recommended Practice for accounting and reportlng by charltie8. I have no concerns and have come across no other mfitters in connection wlth the examination to whlch Attention should be drawn In this report in order to eiiable a proper understandins of the accounts to be teac. N Shaw CAEW Chartered Accountant finad1 The Old Grange, Warren Estst< Lordship RO Writtle, Chelmsford, Essex, CMI 31 DAte Ii. 10 kobl
ESSEX CRICKET FOUNDATION STATEMENT OF FINANCIAL ACTivrrIES FOR THE YEAR ENDED 31 DECEMBER 2024 (incorporating Income and Expenditure account) 2024 Total funds 2023 Total funds Unrestricted Restrlcted funds funds Notes INCOME Income from Donations and legacies Charitable activities Investments 24,981 13,061 33.578 13,046 38,042 33,578 14,197 48,908 28,450 16219 1,151 TotaI Income 26,132 59,685 85,817 93,677 EXPENDITURE Expenditure on Raising funds Charitable activities Investment management charges Other 1,073 28,880 798 6,590 8,921 109,905 13,768 9,994 138,785 14,566 6,590 16,354 153,679 13,004 3,240 Total expenditure 37,341 132,594 169,935 186.277 Net gains on investments 7,783 134,194 141,977 90,145 Net income / (expenditure) before transfers {3,426) 61,285 57,859 (2,455) Transfers between funds 13 Net movement in funds (3,426) 61,285 57,859 (2,455) Balances brought forward at l January 2024 68,769 1,185,633 1,254,402 1,256,857 Balances carried forward at 31 December 2024 65,343 1,246,918 1,312,261 1,254,402 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
ESSEX CRICKET FOUNDATION Company number - 07310112 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Investments 1,264,243 1,127,443 Current as8ets Debtors Cash at bank and in hand 10,256 67,191 77,447 29,429 30,727 120,895 151,622 24,663 Creditors: amounts falling due within one year Net current assets Total assets les8 current liabilities 48,018 1,312,261 126,959 1,254,402 Funds Unrestricted funds Designated funds General funds li 65,343 65,343 1,246,918 1,312,261 68,769 68,769 1,185,633 1,254,402 Restricted fund8 Total funds 12, 13 12, 13 The charitable company is entitled to exemption from audit under Section 477 of the Companie5 Act 2006 for the year ended 31 December 2024. The members have not required the charitsble company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company, These fiTthncial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 reIating to small charitable companies. Approved by the Board of Trustee5 on 22 August 2025 and signed on its behalf by G A Gooch Trustee Chair
ESSEX CRICKEf FOUNDATION NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNfING POLICIES 1.1 ACCOUNTING CONVENTION The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporttng by Charities: Statement of Recommended Practice applicable to charÈties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. Assets and liabilities are initially recosnised at historical cost or transaction value unless otherwise stated in the Televant accounting policy note. 1.2 FUND AccouwfiNG The Charity maintains various types of funds as follows: Unrestricted general funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Designated funds are unrestricted funds that are set aside by the Trustees out of unrestricted general funds for particular projects or purposes. At the balance sheet date the Trustees had not established any designated funds. Restricted funds are funds that can only be used for particular purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 1.3 INCOMING RESOURCES All incoming resources are included in the Statement of Financial Activitie5 when the Charity is entitled to the income and the amount can be quantified with Teasonable accuracy. 1.4 RESOURCES EXPENDED All expendire is accounted for on an accruaIs basis and has been classified under headin89 that agsresate costs relating to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basi5 consistent with the use of the resources. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs represent expenditure incurred in the compliance with statutory requirements. 1.5 VALUE ADDED TAX The CharAty's activities are classified as exempt for the purposes of value added tax and the Charity is unable to reclaim the value added tax which it suffers on its expenses. Expenditure in these financial statements is therefore shown inclusive of value added tax. io
ESSEX CRICKET FOUNDATION NOTES TO FINANCIAL STATEMENrs YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (coNfiNUED) 1.6 INVESTMENTS Listed invesknents are stated at market value at the balance Sheet date. Any unrealised gain or loss for the period is taken to the Statement of Financial Activities. 1.7 DEBTORS Other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. 1.8 CASH AT BANK Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.9 CREDITORS Creditors are recognised where the charity ha5 a present obligation resulting from a past event that is expected to result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. 1.10 ESTIMATION UNCERTAINTY No significant judgements or estimations have been applied in the preparation of the financial statements. 2 DONATIONS AND LEGACIES 2024 Total 2023 Total Unrestricted Restricted Donations - General fund Donations - Graham Gooch Scholarship Fund 24,981 24,981 13,061 22,143 26,765 13,061 24,981 13,061 38,042 48,908 3 INCOME 2024 Total 2023 Total Unrestricted Restricted Fundraising events Graham Gooch Scholarship Fund 33,578 33,578 33,578 33,578 28,450 28,450 li
ESSEX CRICKEf FOUNDATION NOTES TO FINANCIAL STATEMEwrs YEAR ENDED 31 DECEMBER 2024 4 EENDITuRE 2024 TotaI 2023 TotaI Unrestricted Restricted Direct Charitable expenditure Independent examiners fee Fundraising costs 28,880 6,590 1,073 36,543 109,905 138,785 6,590 9,994 155,369 153,679 3,240 16,354 173,273 8,921 118,826 During the period the Charity made a grant of £25,000 (2023: £28,000) to Essex Cricket in the Communtty to undertake programme of Street Cricket, Disability cricket and also coaching sessions for women's and girl's cricket. A grant of £36,000 (2023.. £30,000) was also made to Essex County Cricket Club to support the Essex Cricket academy. 5 STAFF COSTS The company has no employees other than the Trustees / Directors. 6 TRUSTEE REMUNERATION The Trustees / Directors received no remuneration during the year and no Trustee / Director was reimbursed for any travel costs incurred. 7 LISTED INVESTMENTS 2024 2023 At l Nanuary 2024 Additions during year Disposals during year Net sain for the period At 31 December 2024 1,127,443 365,216 (365,935) 137,519 1,264,243 1,035,616 428,728 (438,617) 101,716 1,127,443 Historical cost at 31 December 2024 917,744 917,578 Investment gains/ (losses) Fair value adjustment Other investment (losses) / gains 137,519 4,458 141,977 101,716 11,571 90,145 No account has been taken of market fluciuations since the balance sheet date. 12
ESSEX CRICKET FOUNDATION NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 8 DEBTORS 2024 2023 Other debtors 10,256 30,727 9 CREDITORS: Amouiwfs FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors Accruals 6,231 23,198 24,663 29,429 24,663 10 DEFERRED INCOME Deferred income comprises grants received where the purpose of the grant expenditure has not been completed at the year end. 11 UNRESTREcfED FUNDS General funds Designated funds Total Balance at l January 2024 Deficit for the year 68,769 (3,426) 68,769 (3,426) Balance at 31 December 2024 65,343 65,343 12 ANALYSIS OF ASSETS AND LIABILITIES BETWEEN FUNDS 2024 Total 2023 Total UnTestricted Restricted Investments Current assets Creditors: amounts falling due within one year 13,698 77,447 25,801 65,344 1,250545 1,264,243 77,447 (29,429) 1,312.261 1,127,443 151,622 24,663 1,254,402 (3,628) 1,246,917 13
ESSEX CRICKET FOUNDATION NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 13 MOVEMENTS IN FUNDS Transfers and investment gains/(losses) l January 2024 Incoming resource8 Outsoing resource8 31 December 2024 Restricted funds: Graham Gooch Scholarship Fund E55ex County Cricket Club Benefit Trust 994.688 190,945 46,639 (112,826) (6,000) 112,072 21,400 1.040,573 206,345 Total restricted fundg 1,185,633 46,639 118,826 133,472 1,246,918 UnrestrActed funds: General funds 68,769 24.981 (36,543) 8,136 65,343 Total unrestrleted fund8 68,769 24,981 36,543 8,136 65,343 Total funds 1,254,402 71,620 155,369 141,608 1,312,261 The Graham Gooch Scholarship Fund provides scholarships and grants to young cricketers of all abilities to enhance their cricketing skills, through the Essex Cricket Academy or individuaI grants. The Youth Trust provides grants to cricket clubs to support youth coaching programmes. This fund has received income and has made grants since the period end date. The Essex County Cricket Club Benefit Trust provides grants to former players who did not have benefits while at Essex County Cricket Club who have financial problems or require medical support. Additionally it provides educational grants to all former professional cricketers to assist in retraining. 14 RELATED PARTY TRANSAcfioNS By its very nature the charity has a close working relationship with Essex County Cricket Club. During the period the Cricket Club paid various expenses on behalf of the charity. At the balance Sheet date the charity owed £6,231 to Essex County Cricket Club (2023: owed by Essex County Cricket Club £5,638). This amount is included within other creditors (2023: other debtors). 15. POST BALANCE SHEET EVENTS The Graham Gooch Scholarship Fund part of the charity is to become its own separate charitable organisation going fonvards. The result will see a significant proportion of the assets (about £l.Im) transferred out from the Essex Cricket Foundation. This proposed transaction has been approved by both the Board of Trustees and the Charities Commission. The Essex Cricket Foundation will continue to operate and adhere to its charitable objective5 as stated in the Trustees, Annual Report, This change has no impact on the financial statements for the year ended 31 December 2024. 14