**REGISTERED COMPANY NUMBER: 07923813 (England and Wales) REGISTERED CHARITY NUMBER: 1145954** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2020** ## **for** ## **VALLEY END CRICKET CLUB** **VALLEY END CRICKET CLUB** ## **Contents of the Financial Statements for the Year Ended 31 December 2020** ||**Page**| |---|---| |**Report of the Trustees**|1 to 8| |**Independent Examiner's Report**|9| |**Statement of Financial Activities**|10| |**Balance Sheet**|11 to 12| |**Cash Flow Statement**|13| |**Notes to the Cash Flow Statement**|14| |**Notes to the Financial Statements**|15 to 23| **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. 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) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Charity's objects are (effective from 17 February 2012): To promote and facilitate community participation in healthy recreation in particular the playing of cricket through the provision of high quality coaching and playing facilities. Further to this, the club intends with the building of the new pavilion to become a community hub and the centre of the local community for sport and activity for a range of groups, focussing on the young, elderly and those with disability - building on our 125 year legacy for outstanding cricket. ## **Activities** The activities to achieve the charity's objectives are all carried out for the public benefit as described by the Charity Commission. The Board Members have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Valley End Cricket Club is run throughout the entire year with the highest level of activity between April and September every year. The club offers cricket coaching and facilities to enable sporting activity of youth and adults, able bodied and disabled throughout the year. Beginning in January, coaching is offered to the youth and adult members of the club on a regular basis through to the beginning of the playing season in April. Beginning in April, a number of teams are entered into various leagues at an adult level. In 2020 five teams participated in the Surrey cricket leagues on Saturdays beginning in April and running through until September. A sixth team also played on the occasional Saturday, organising friendly fixtures. These teams range in quality from top quality cricket to lower levels. Two adult Sunday teams were active, two youth Sunday teams, plus a twenty-overs league side all of which were played with a mix of adult and older youth members. Disabled cricket coaching is offered throughout the year with matches played in the summer. Youth participation is our most active part of the club, with 9 age groups, each participating in up to three leagues and numerous cup competitions. Coaching is offered to the youth on Thursday, Friday and Sunday with facilities open and regularly used by active children and their parents. ## **Volunteers** Valley End Cricket Club is a charity powered by volunteers, with all of the directors dedicating their time to the operating of the club without compensation. The club operates with numerous volunteers from age group managers to barbeque attendants to bar staff and more. Officially, there are 20 volunteer roles that are populated by local parents, cricket enthusiasts and members of the community. All volunteers connected with youth activities are DBS checked to protect the welfare of our youth members. Page 1 **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **STRATEGIC REPORT Achievement and performance Activities** 2020 was not the year any of us had anticipated. It was meant to be our 125th anniversary and the opening of the new pavilion. However, the coronavirus pandemic and subsequent lockdowns severely impacted the club and its activities. Despite all the difficulties thrown at the club, it responded magnificently and the members and committee are grateful for all the events and the cricket which ended up being possible. In the spring before COVID raised its spectra, the committee were planning a season of celebrations with a dedicated 125 committee doing a brilliant job planning events and then adapting to the new circumstances. As the lockdown began there was concern about how the club would cope, not least financially. The club benefited from generous sponsorship support, as well as several local government grants. It was important to keep the club as ready as possible for a resumption of recreational sports and as a direct result our sponsors generosity the club was ready. As every year the club is grateful to Steve Redwood for his stewardship of the grounds, and the extra efforts of Graham Messenger and Ian Wordley who both stepped in to help out when needed. The opening of the club's new pavilion managed to comply with the newly introduced coronavirus regulations and requirements thanks to the planning of detail and management from committee members; Mike Goodman, Brian Barr and Ray Ferris amongst many others. The club were able to host an official grand opening of the new pavilion with an event where Valley End CC welcomed the Marylebone Cricket Club and former England captain David Gower to open the New Pavilion and celebrate the club's 125th anniversary. A great team of helpers were on hand to guide and segregate people on the day, so the club could manage a fantastic day with many members, socially distanced. The event will be well remembered by everyone who attended, and to top it off, Valley End CC won the game. Many thanks to everyone involved in helping the club to achieve this momentus year despite the challenges. The opening of the clubhouse marks the beginning of a new and very exciting chapter for the club. Bringing this 15-year project to completion has been a marathon effort and has involved a large number of people over the years. Standing out in this group are Adrian Gale, John Williams, Simon Meaney, Brian and Debra Barr, Malcolm Lea, Richard Carlson, Ray Ferris, Gordon Kerr and many more who have given financial or time to support the cause; the club remains indebted to them all. When at last cricket could resume there was enthusiastic demand for the sport. Throughout the abbreviated and modified league season the club turned out 6 senior sides every Saturday, often 3 or 4 sides on Sunday. Lots of younger players joined in these fixtures and the heart of the club beats strongly. The youth are always the future and they are strong in numbers and talent. In addition to the established senior order and youth, the club can now add girls and women sides to the cricket offering, something that the club have sought to do for a while, and it is genuinely a great achievement. Over the winter the world was again faced with new levels of uncertainty from the pandemic and the club and committee will need to keep alert to the constantly changing situation. Completing the New Pavilion really must only be a beginning, now the club needs to examine how to use the pitches to the best effect, how to maintain them, what staff is needed to do this, where and what should be invested in. This year, marks the last year with Donald Kingsnorth as chairman, Mike Goodman as welfare officer and Keith Fisher as director of cricket. The club has been well served by their time on the committee. Page 2 **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **STRATEGIC REPORT Achievement and performance** ## **Welfare Activities** The most important role of a welfare officer is the protection of the club's children so that they can have fun and enjoy playing cricket and parents can feel comfortable that Valley End CC is a safe environment for them. For a while, there was a great deal of concern about the possibility of being able to play cricket safely with the pandemic forcing activity to stop. However, with the help of the ECB and Surrey cricket foundation the club were eventually able to play cricket at all levels. In particular, the Surrey cricket foundation were able to provide guidance on how the game could be played safely. Provision of these guidelines plus additional advice from club specific provisions made it possible to play cricket at all levels at Valley End CC. In the short window that the club was afforded, Valley End CC youth were able to schedule and play over 170 covid safe games. It was a pleasure it to have everyone enjoying the great game of cricket, particularly the youngsters after a difficult period. In 2020, there were more DBS checks completed than any year since Mike Goodman became Welfare officer. It was a challenge to complete many of these checks online and not in person. Despite Covid we had a flourishing youth section with over 200 youngsters between five and seventeen playing cricket, no one should under-estimate the organisation required throughout the season. Plaudits are to be given to all the youth managers and coaches who organised games and coaching and maintaining a safe environment. Further, the many parents who assisted during the year helped to provide a friendly atmosphere to the summer. The club did not hold a first aid course this year given the difficulties in doing so ahead of the season with the pandemic but will do so early in 2021. However, many of our members and helpers have already been through the numerous courses held in the past. With the growing youth section, more coaches and helpers will be needed, and the club will look to increase the in-house qualified coaches for 2021. Mike Goodman will be stepping down from the position of vice chairman and welfare officer in 2021. These are duties he has carried out with great attention to detail, and he has been a tremendous support to the club over the last 5 years. Mike and his wife Karen have been supportive in the club's outreach and charitable commitments. In Christmas 2020, they initiated an effort to provide meals and gifts to local families in need of support. It is a valuable initiative that will be continued in 2021 and future years. ## **Facilities to Support Activities** The major event of 2020 was getting the new pavilion "finished" and ready to use. Covid 19 caused significant delays in early spring as contractors were unable to attend the site. However, a mad rush of activity in May and June allowed the building to get to a usable condition. A number of tasks remained outstanding including landscaping, putting a covered structure around the BBQ and fully fitting out the changing rooms. It was intended to have them completed during the winter period. Whilst everyone was enjoying the new facilities it was also heartening to see the clubhouse at Windlesham Park being used regularly. The club must not forget the contribution to our heritage delivered by that building. Maintenance and improvement plans are being developed to ensure the building is not neglected. The provision of paid bar staff at Woodlands Lane has improved the standard of service able to be provided this year. In particular, the successful MCC opening day was a joy to behold. Our new beer supplier, Greene King, have enjoyed their first year supplying the club and are looking forward to increasing their presence at some of next year's events. Despite the limitations on capacity in the bar due to Covid 19 the club had hoped to still open on selected dates throughout the winter. However, this proved to be difficult with the lockdown. The club chose to run the bar at Windlesham Park as a self-service, contactless facility. The club continue to strike a balance between what is needed and what can be afforded to ensure the grounds are managed to a high standard. Page 3 **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **STRATEGIC REPORT Achievement and performance** ## **Operational Risks** Every year improvements are made with regards to the cash handling and auditing processes. The new pavilion and the migration of cash handling from Windlesham Park to Woodlands Lane has meant a need to re-think procedures. Further, over 2020, the club migrated to a cashless bar as best as possible, cutting the need for cash handling in the COVID environment. Collection of match fees has remained contactless with captains making use of card readers to collect match fees on the day. The club have migrated most of their expense accounts to online billings. Each of the roles within the club have been provided with club e-mail addresses, including newly created roles. This helps to ensure the smooth transitioning of roles, as well as the creation of a secure environment for the sharing of plans and information and provides an audit trail for director activities. The directors will do their best to be secure in their processes to ensure the security of the club's assets and accounts. Gates at the Windlesham Park ground, which have provided the dual function of improving the look and feel of the ground entrance have also improved the security of access to the grounds. In 2015, video surveillance equipment was installed in the Windlesham Park pavilion and is maintained to ensure adequate security. Additionally, an alarm system with key fobs allocated to select individuals was implemented. To date, these have been successful in discouraging further thefts and damage to the club and have been used to monitor for unwanted activity. The Woodlands Lane pavilion also has video surveillance facilities as well as an alarm system installed to ensure appropriate security levels. The gates at the Woodlands Lane ground are heavily padlocked with the addition of bollards that are also padlocked for additional security. Page 4 **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **STRATEGIC REPORT Financial review** ## **Financial position** At the beginning of the year the committee was very focused on getting the new pavilion finally completed as well as to invest more money into continuing to develop the club. However, the COVID-19 pandemic hit the club hard in a year which was meant to be one of celebration and increased revenue. Thanks to generous COVID related grants, and the club sponsor Cloud Shift, we were able to survive. Our financial planning allowed the club to complete more of the leftover items for the new pavilion, but there remain further tasks that need funding. As a result, the club finances have been stretched in the effort to build this club into the 'big little club' continues. Financially speaking, this year was definitely a year of two halves. At the start of the year, as the building of the pavilion was being completed, the club were already hitting a challenging period. Funding for the pavilion was nearly spent and the club were looking at organising events to celebrate the 125th anniversary to help bring in much needed money. Then COVID hit, shuttering everything and the club were faced with a challenging financial prospect for the year. Were it not for the generosity of Cloudshift, sponsoring the club despite the prospect for no cricket, the club would likely have had to stop paying the groundsman and potentially even face even more difficult decisions on how to carry on. The club did have funds to hand with its reserve fund, but that would have quickly been exhausted were the club not able to re-open. After a government decision to allow cricket to be played, the club were thankfully back in business. The support of our sponsor allowed the groundsmen to have the grounds ready for our re-opening. As a result, the club hit the ground running and with fantastic members keen for cricket, socialising (safely) and great weather. The club were able to turn things around and make the most of the limited time available. ## Incoming Funds: Despite a shortened year we ended up with incoming funds close to levels of 2019 (adjusted for pavilion related grants, etc). In total, incoming funds reached £180,110, this is below the £265,525 generated in 2019, with numbers impacted by fundraising and funding for the building of the new pavilion. Last year was a negative net cash flow year as funds were used to build the pavilion and fund the growth of the cricket club. Valley End CC committee aspired to expand the clubs growth and the pandemic halted ambitions. However, in 2020, cash flow ended relatively benign versus what could have been. In particular, bar and catering income showed substantial growth with numbers exceeding expectations. With essentially only a two-and-a-half-month open period, we managed to take more over the bar and barbeque with £44,571 than for the entirety of 2019 (£36,185), demonstrating the potential of the new pavilion and the appeal of the venue. This was roughly matched with the level of player membership. In fact, bar and barbeque revenue exceeded player subs, the first time this has happened since 2014. The success of the Cantina, which has been popular with the membership has provided some further additional funds, though this is not a major generator of funds. Thanks should be given to all those members that paid their full membership at the beginning of the season, despite the potential for very little cricket. The club needed to charge full rates to support the running of the club, despite (at the time) facing an uncertain year ahead. Willingness to sign-up and pay membership and support the club was much appreciated. In the end, membership funds nearly reached 2019 levels, falling short of 2019 numbers with £38,508 in player subs. In the end, most members were able to make the most of the summer with plenty of cricket on offer. Match fees were cut with the elimination of match teas, and the collection of fees via card payment across all teams was introduced. Collection of match fees was strong with very few cases of missed payment. Next year, card collection will continue given its success this year. There is yet to be great visibility on the prospect for teas to return, and the cost of them, but this will be reflected appropriately in the level of match fees. The club did not manage to generate much in terms of pavilion rental versus what had been originally planned, but this did not hinder the club from still generating a good level of incoming funds overall from the coaching, ground rental, match fees, kit and VECC labelled products. Page 5 **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **STRATEGIC REPORT** One of the biggest successes in terms of incoming funds was the Chase the Joker. With a great deal of fun and entertainment, the funds generated by the game were a great success. The net funds from this were dedicated towards finishing off the pavilion. Further to this, the successful MCC day with David Gower also helped to generate strong incoming funds and to showcase the new pavilion to everyone. The club also received some funding from the government which was used to replenish the reserves after they were withdrawn to cover general expenses in the midst of the lockdown. Added to all of this, the club have an outstanding claim with its insurer that was being fought in the courts for business interruption. ## Expenditure: The maintenance of the grounds and preparation of the squares continues to be the single greatest cost for the club. While the overall cost of the grounds did go down this year, this was largely due to the unfortunate circumstances, and will likely return to exceed even 2019 levels in 2021. The increase in bar revenue, comes with increased expenses, representing the second biggest cost to the club. This was further increased by the decision to have dedicated people behind the bar, rather than rely solely upon volunteers as we have done in the past. Overall, this has been a positive result, reducing theft, improving service, and eliminating the regular arm twisting performed in the past. But this does have an impact on the net proceeds taken from the managing of the bar. Cricket related expenses fell in 2020, but not as much as might be anticipated. While we did not have an overseas, and the league subscriptions were lower, we had increased coaching costs with more coaches required due to the higher number of coaching sessions over the course of the summer period. This was done to accommodate COVID restrictions and ensure safe distancing and numbers. Our core costs remain relatively steady but did still increase in 2020. This was in part due to the increased cost of insurance with a completed second pavilion, plus (yet again) some issues with regards to the power company and inaccurate readings. Further to this, there was also a back dated issue with regards to our water service. However, some money was saved with no further need of the rented toilet facilities that accompanied the shipping containers resident at the ground for a number of years. Debt repayment continued as we still are repaying debts for the purchase of the grounds. This will increase further in 2021 as the funding needed for the new pavilion included a loan from the ECB which will need to begin to be repaid. The decision to take on the groundsman for a greater amount of time in 2019, was a decision by the committee to dedicate more funds to improve the club. It remains a large proportion of the expenses of the club, and while the amount paid declined in 2020 due to pandemic closures, it will likely increase further in 2021 and 2022. We have been able to improve the terms on the winter groundworks which has been used to help cover the increased cost of groundsmen. With increased grounds work, equipment bills will remain significantly higher but these can be irregular and can include unpredictable expensive equipment costs. Cricket related costs increase regularly as the committee dedicates its efforts to regularly improve the quality of cricket. This has included the choice of bringing in a paid pro in addition to the spending on an overseas player. However, in 2020 there was no overseas player due to restriction on travellers coming from abroad. While the addition of these two partially helps to cover outsourced coaching bills, the overall impact is an increase of total coaching/cricket staff costs. Pavilion expenses have yet to properly stabilise as we have yet to reach a steadier state of operating with the new building. The adjustment to stabilise some of the volatile power, water and heating expenses is still ongoing, but should begin to materialise in 2021 when both pavilions are utilised more consistently, and the meters monitored regularly. Some minor repairs at the pavilions will be needed on a regular basis and the addition of new equipment will likely need regular maintenance in repair in future years. Insurance expenses have increased as we now have a finished pavilion that needs to be covered and the pending claims from ourselves and the industry are likely to push up premiums in the future. As we have now moved away from thefts in earlier years, this previously allowed us to decrease the cost of insurance and will hopefully support our prospects of remaining on competitive terms. Page 6 **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **STRATEGIC REPORT** Further to expenses, the club spent some additional money in 2020 on the completion of the pavilion as well as the erection of a barbeque area. These were supported with some grant money as well as some additional funds from the 100 club in order to continue to support the ongoing improvement of facilities away from the building of the new pavilion. Overall, the club continues to invest into the development of the cricket club and expand it into a place of envy for other clubs. The new pavilion will hopefully bring in additional incoming funds, to help offset the additional usage expenses. Areas of increased cost are likely to be within the insurance and pavilion expenses such as power, heat and water as well as debt repayment from additional borrowing taken on to complete the building of the new pavilion. ## **Reserves policy** The trustees have sought to maintain sufficient reserves to cover a normal level of expenditure over a twelve-month period and to provide for unexpected events. Given the relative size of the club, a large unplanned cost can have a large impact on the finances of the club. As a result, the trustees have established a cash reserve to protect the club financially. Reserves have been kept in an interest-bearing cash account. The value of the establishment of these reserves has proven to be prudent already and was needed in 2019 and was a saviour for the club in 2020 as the COVID-19 pandemic put the world on pause. The trustees will look to maintain reserves at an ongoing suitable level. The development of the new pavilion and ambitions of the club will likely challenge the maintenance of these reserves until the 'new normal' costs are established. The club will look to regularly reassess and potentially increase these reserve levels to ensure a smooth running of the charity. ## **Going concern** The trustees consider the charity a going concern. There are sufficient reserves to meet the expected needs of the charity over the next year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## Trustee Compensation None of the Directors have received any compensation for their activities as Trustees of the charity. Any expenses incurred in the performance of duties as Trustees is paid for independently by the Trustees. James Young, the Youth Director was provided with payment for coaching activities. James Young is not an employee of the charity, and payments made were of an insignificant amount relative to the overall expenses of the charity and is smaller than payments made to other coaches. Payment was provided for his work in a supporting role to assist with the coaching of youth cricketers. James Young's son, Ed Young is a paid professional for the club, with his responsibilities focused on coaching and playing. These are not insignificant sums, but the club is comfortable that any decisions made about his work are done without the influence of James in its direction. Furthermore, the daughter of Gordon Kerr, the club Treasurer was paid for occasional services behind the bar, and for the sale of ice cream. Payments made were of an insignificant amount in relation to the expenses of the club. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 07923813 (England and Wales) ## **Registered Charity number** 1145954 ## **Registered office** Valley End Cricket Club Windlesham Road Chobham Woking Surrey GU24 8SN Page 7 ## **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **Trustees** R N Ferris - Chariman G Kerr - Treasurer K Fisher M G Goodman D Kingsnorth Management (resigned 16.10.20) J P G Young B Barr D Barr J Brennen (appointed 9.11.20) A Monk (appointed 16.10.20) ## **COMMENCEMENT OF ACTIVITIES** The charity commenced activities on 17 February 2012 and obtained its formal registration with the Charities Commission on the same date. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: ..................................................................... R N Ferris - Trustee Page 8 **Independent Examiner's Report to the Trustees of Valley End Cricket Club** ## **Independent examiner's report to the trustees of Valley End Cricket Club ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts 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 accounts to be reached. Carl Taylor FCA Date: ............................................. Page 9 ## **VALLEY END CRICKET CLUB** ## **Statement of Financial Activities for the Year Ended 31 December 2020** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Other income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Cricket & pavilion expenses
Ground expenses
Other
7
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**31.12.20**
Unrestricted
Restricted
**Total**
fund
funds
**funds**
£
£
**£**
**63,989**
**5,001**
**68,990**
**66,549**
**-**
**66,549**
**44,571**
**-**
**44,571**
**175,109**
**5,001**
**180,110**
**51,926**
**4,669**
**56,595**
**49,198**
**2,749**
**51,947**
**39,869**
**-**
**39,869**
**140,993**
**7,418**
**148,411**
**34,116**
**(2,417)**
**31,699**
**1,187,301**
**275,209**
**1,462,510**
**1,221,417**
**272,792**
**1,494,209**|31.12.19
Total
funds
£
157,098
72,242
36,185| |---|---|---| |||265,525
59,464
61,696
23,222| |||144,382| |||121,143
1,341,367| |||1,462,510| The notes form part of these financial statements Page 10 ## **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Balance Sheet 31 December 2020** |Notes
**FIXED ASSETS**
Tangible assets
11
**CURRENT ASSETS**
Stocks
12
Debtors
13
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
15
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**1,258,065**
**400**
**-**
**50,856**
**51,256**
**(35,404)**
**15,852**
**1,273,917**
**(52,500)**
**1,221,417**|Restricted
funds
£
**322,792**
**-**
**-**
**3,000**
**3,000**
**(10,500)**
**(7,500)**
**315,292**
**(42,500)**
**272,792**|**31.12.20**
**Total**
**funds**
**£**
**1,580,857**
**400**
**-**
**53,856**
**54,256**
**(45,904)**
**8,352**
**1,589,209**
**(95,000)**
**1,494,209**
**1,221,417**
**272,792**
**1,494,209**|31.12.19
Total
funds
£
1,477,316
400
100,144
88,487
189,031
(146,337)
42,694
1,520,010
(57,500)
1,462,510
1,187,301
275,209
1,462,510| |---|---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: The notes form part of these financial statements Page 11 continued... **VALLEY END CRICKET CLUB (REGISTERED NUMBER: 07923813)** ## **Balance Sheet - continued 31 December 2020** ............................................. G Kerr - Trustee The notes form part of these financial statements Page 12 ## **VALLEY END CRICKET CLUB** ## **Cash Flow Statement for the Year Ended 31 December 2020** |||**31.12.20**|31.12.19| |---|---|---|---| ||Notes|**£**|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|**46,723**|405,598| |Interest paid||**(460)**|(518)| |Net cash provided by operating activities||**46,263**|405,080| |**Cash flows from investing activities**|||| |Purchase of tangible fixed assets||**(125,895)**|(747,345)| |Sale of tangible fixed assets||**1**|-| |Net cash used in investing activities||**(125,894)**|(747,345)| |**Cash flows from financing activities**|||| |New loans in year||**50,000**|-| |Loan repayments in year||**(5,000)**|-| |Net cash provided by financing activities||**45,000**|-| ||||| |**Change in cash and cash equivalents in**|||| |**the reporting period**||**(34,631)**|(342,265)| |**Cash and cash equivalents at the**|||| |**beginning of the reporting period**||**88,487**|430,752| |**Cash and cash equivalents at the end of**|||| |**the reporting period**||**53,856**|88,487| The notes form part of these financial statements Page 13 **VALLEY END CRICKET CLUB** ## **Notes to the Cash Flow Statement for the Year Ended 31 December 2020** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**| |---|---|---|---|---| ||||**31.12.20**|31.12.19| ||||**£**|£| ||**Net income for the reporting period (as per the Statement of**|||| ||**Financial Activities)**||**31,699**|121,143| ||**Adjustments for:**|||| ||Depreciation charges||**19,023**|9,582| ||Loss on disposal of fixed assets||**3,330**|-| ||Interest paid||**460**|518| ||Decrease in debtors||**100,144**|149,857| ||(Decrease)/increase in creditors||**(107,933)**|124,498| ||**Net cash provided by operations**||**46,723**|405,598| |2.|**ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)**|||| |||At 1.1.20|Cash flow|**At 31.12.20**| |||£|£|**£**| ||**Net cash**|||| ||Cash at bank and in hand|**88,487**|**(34,631)**|**53,856**| |||**88,487**|**(34,631)**|**53,856**| ||**Debt**|||| ||Debts falling due within 1 year|**-**|**(7,500)**|**(7,500)**| ||Debts falling due after 1 year|**(57,500)**|**(37,500)**|**(95,000)**| |||**(57,500)**|**(45,000)**|**(102,500)**| ||**Total**|**30,987**|**(79,631)**|**(48,644)**| The notes form part of these financial statements Page 14 **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** 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 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities (SOFA) once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## Grants & Third Party Contributions Whether paid on account, by instalments or in arrears, grants and third party contributions and donations are recognised as due to the Charity when there is reasonable assurance that: - the Charity will comply with the conditions attached to the payments; - the grants or contributions will be received. Amounts recognised as due to the Charity are not credited to the SOFA until conditions attached to the grant or contribution have been satisfied. Conditions are stipulations that specify that the future economic benefits or service potential embodied in the asset acquired using the grant or contribution are required to be consumed by the recipient as specified, or future economic benefits or service potential must be returned to the transferor. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property for Woodlands Lane is accounted for on a component cost basis with each component being depreciated over its economic life as shown below. ## **Freehold property** Fabric of building - Over 70 years Doors & windows - Over 20 years Fixtures & fittings - Over 10 years Depreciation is not provided on the land element of Freehold Property. ## **Other assets** Plant & machinery etc - 10% and 20% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. Page 15 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** 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 a particular restricted purposes. ## **Government grants** Government grants are accounted for based on the accrual model. Revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. ## **Donated services and facilities** Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time given to the charity is not recognised and refer to the trustees’ annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. ## **Value added tax** The Charity'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. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| |Sponsorship, donations & gift aid
Gift aid
Grants
COVID-19 grants|**31.12.20**
**£**
**41,266**
**923**
**5,000**
**21,801**
**68,990**|31.12.19
£
121,747
24,351
11,000
-| |||157,098| During the year the Charity received notifications of grants awarded as contributions towards the construction of the pavilion on Woodlands Lane. The grants totalled £5,000 (2019 - £11,000) and have been recognised in the Statement of Financial Activities on the basis that the Charity will comply with the conditions attached to the payments. Page 16 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **2. DONATIONS AND LEGACIES - continued** Grants received, included in the above, are as follows: |||**31.12.20**|31.12.19| |---|---|---|---| |||**£**|£| ||Contributions to fund construction of pavilion|**5,000**|11,000| |**3.**|**OTHER TRADING ACTIVITIES**||| |||**31.12.20**|31.12.19| |||**£**|£| ||Match fees (net of catering costs)|**7,262**|8,307| ||Clothing|**-**|452| ||Subscriptions|**38,508**|40,913| ||Miscellaneous income|**47**|395| ||Nets|**5,539**|6,752| ||Dinner & dance|**8,963**|10,390| ||Coaching courses|**3,290**|2,345| ||Ground rental|**2,940**|2,688| |||**66,549**|72,242| |**4.**|**OTHER INCOME**||| |||**31.12.20**|31.12.19| |||**£**|£| ||Bar & catering|**44,571**|36,185| |**5.**|**CHARITABLE ACTIVITIES COSTS**||| ||||Direct| ||||Costs (see| ||||note 6)| ||||£| ||Cricket & pavilion expenses||**56,595**| ||Ground expenses||**51,947**| ||||**108,542**| Page 17 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **6. DIRECT COSTS OF CHARITABLE ACTIVITIES** |**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**||||| |---|---|---|---|---| |Groundsman
Pitch repairs & maintenance
Equipment repairs
Light, heat & water & refuse collection
Fuel
Hire & sundry ground expenses
Overseas & accommodation
Pavilion repair & maintenance
Insurance
Telephone & internet
Cricket equipment
Clothing
Cricket subscriptions
Coaching
Nets
Dinner & dance
Miscellaneous cricket costs
Scorers, umpires & fines
Depreciation
**7.**
**OTHER**
Bar & catering
Loss on sale of assets
Interest payable and similar charges
**8.**
**NET INCOME/(EXPENDITURE)**
Depreciation - owned assets
Deficit on disposal of fixed assets||**31.12.20**
**£**
**20,234**
**9,184**
**3,066**
**9,443**
**967**
**91**
**-**
**6,463**
**9,086**
**906**
**2,630**
**735**
**814**
**16,380**
**1,974**
**4,752**
**2,258**
**536**
**19,023**
**108,542**
**31.12.20**
**£**
**36,079**
**3,330**
**460**
**39,869**|31.12.19
£
27,769
11,652
8,732
2,488
1,473
2,409
6,420
7,926
7,250
788
2,498
218
1,747
17,167
3,244
4,953
4,104
740
9,582
121,160
31.12.19
£
22,704
-
518
23,222|| ||**31.12.20**|||31.12.1
9| ||**£**|||£| ||**19,023**|||9,583| ||**3,330**|||-| |||||| Page 18 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **10. 2019 - COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Cricket & pavilion expenses
Ground expenses
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
146,098
72,242
36,185
254,525
59,464
59,672
23,222
142,358
112,167
1,075,134
1,187,301|Restricted
funds
£
11,000
-
-
11,000
-
2,024
-
2,024
8,976
266,233
275,209|Total
funds
£
157,098
72,242
36,185| |---|---|---|---| ||||265,525
59,464
61,696
23,222| ||||144,382| ||||121,143
1,341,367| ||||1,462,510| Page 19 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** |**11.**
**TANGIBLE FIXED ASSETS**
Freehold
Plant and
property
machinery
£
£
**COST**
At 1 January 2020
**1,428,305**
**100,947**
Additions
**117,154**
**8,741**
Disposals
**-**
**(13,803)**
At 31 December 2020
**1,545,459**
**95,885**
**DEPRECIATION**
At 1 January 2020
**-**
**51,936**
Charge for year
**9,326**
**9,697**
Eliminated on disposal
**-**
**(10,472)**
At 31 December 2020
**9,326**
**51,161**
**NET BOOK VALUE**
At 31 December 2020
**1,536,133**
**44,724**
At 31 December 2019
1,428,305
49,011
Depreciation is not provided on the land element of Freehold Property of £574,000 (2019 -
**12.**
**STOCKS**
**31.12.20**
**£**
Bar
**400**
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**31.12.20**
**£**
Other debtors
**-**
Prepayments and accrued income
**-**
**-**|Totals
£
**1,529,252**
**125,895**
**(13,803)**
**1,641,344**
**51,936**
**19,023**
**(10,472)**
**60,487**
**1,580,857**
1,477,316
£574,000).
31.12.19
£
400
31.12.19
£
300
99,844
100,144| |---|---| Page 20 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** |**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other loans (see note 16)
Trade creditors
Accruals and deferred income
**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other loans (see note 16)
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal
Repayable otherwise than by instalments:
Other loans more 5yrs non-inst
**17.**
**MOVEMENT IN FUNDS**
At 1.1.20
£
**Unrestricted funds**
General fund
**1,187,301**
**Restricted funds**
Grants for capital purchases
**275,209**
**TOTAL FUNDS**
**1,462,510**||**31.12.20**
**£**
**7,500**
**-**
**38,404**
**45,904**
**31.12.20**
**£**
**95,000**
**31.12.20**
**£**
**7,500**
**10,000**
**30,000**
**2,500**
**52,500**
Net
movement
in funds
£
**34,116**
**(2,417)**
**31,699**|31.12.19
£
-
129,522
16,815
146,337
31.12.19
£
57,500
31.12.19
£
-
-
-
-
57,500
At
31.12.20
£
**1,221,417**
**272,792**|31.12.19
£
-
129,522
16,815| |---|---|---|---|---| |||||146,337| ||||**1,494,209**|| Page 21 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **17. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Grants for capital purchases
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Grants for capital purchases
**TOTAL FUNDS**
Comparative net movement in funds, included in the above
**Unrestricted funds**
General fund
**Restricted funds**
Grants for capital purchases
**TOTAL FUNDS**|Incoming
resources
£
**175,109**
**5,001**
**180,110**
At 1.1.19
£
1,075,134
266,233
1,341,367
are as follows:
Incoming
resources
£
254,525
11,000
265,525||Resources
expended
£
**(140,993)**
**(7,418)**
**(148,411)**
Net
movement
in funds
£
112,167
8,976
121,143
Resources
expended
£
(142,358)
(2,024)
(144,382)|Movement
in funds
£
**34,116**
**(2,417)**
**31,699**
At
31.12.19
£
1,187,301
275,209
1,462,510
Movement
in funds
£
112,167
8,976
121,143| |---|---|---|---|---| |||||| ||ar|||| Page 22 continued... **VALLEY END CRICKET CLUB** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **18. RELATED PARTY DISCLOSURES** There were £3,050 (2019 - £80,000) of donations received without conditions from trustees during the year. Page 23