Registered number: 08018942 Charity number: 1150351
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements For the year ended 31 October 2023
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 10 |
| Independent examiner's report | 11 |
| Statement of financial activities | 12 |
| Balance sheet | 13 - 14 |
| Notes to the financial statements | 15 - 30 |
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Reference and administrative details of the Company, its Trustees and advisers For the year ended 31 October 2023
| Trustees | G P Bristowe, Chairman (appointed 23 March 2018) |
|---|---|
| N G H Draffan, Hon Treasurer (appointed 4 April 2012, retired 29 March 2023) | |
| A Akram (appointed 4 April 2012) | |
| M A Atherton OBE (appointed 8 November 2012) | |
| R W J Bruce (appointed 18 November 2020) | |
| H J P Chetwood (appointed 23 March 2018) | |
| Mr A W G Deighton (appointed 5 April 2022) | |
| Mrs R Foster (appointed 23 March 2022) | |
| Miss J Galsworthy (appointed 4 April 2012, retired 29 March 2023) | |
| Mrs A J Jupp (appointed 23 March 2018) | |
| D J Kidd (appointed 29 March 2023) | |
| R C Mason (appointed 29 March 2023) | |
| M G Milliken-Smith (appointed 22 March 2019) | |
| Mrs C Nicholls (appointed 18 November 2020) | |
| R A Pyman (appointed 8 November 2012, retired 29 March 2023) | |
| Some trustees were appointed prior to incorporation on 4 April 2012. | |
| Company registered number 08018942 Charity registered number 1150351 Registered office Arundel Park Off London Road Arundel West Sussex BN18 9LH Director T Shutt Company secretary J E Rufey President His Grace The Duke of Norfolk, DL Accountants Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ Bankers Natwest Bank 154 The Street Rustington West Sussex BN16 3DA |
Page 1
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report For the year ended 31 October 2023
The Trustees present their annual report together with the financial statements of the Company for the year 1 November 2022 to 31 October 2023. The Annual report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Structure, governance and management
a. Constitution
Arundel Castle Cricket Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated November 2012.
It was registered with the Charity Commission on 7 January 2013 (registered number 1150351) as a charity whose purpose is to provide for the education of young people through cricket and cricket instruction at Arundel and elsewhere.
Our governing body is a Board of Directors. The directors are the Trustees of the charity. As at 31 October 2023 there were 12 members.
The Nominations Committee, comprising existing Trustees, selects new Trustees for board approval. The decision on election of new Trustees requires unanimous board approval. As part of their induction all Trustees are given a copy of the Charity Commission's "The Essential Trustee: What You Need to Know" and "Good Governance: A Code for the Voluntary and Community Sector". On appointment, Trustees are briefed by the Chairman on the activities of the Charity, its management and administration. The Board of Trustees holds two formal meetings per annum where Trustees are briefed by members of the staff.
We have evolved our structure over the years to cope with the steady increase in legislation and regulations.
The Finance and Audit committee meets at least twice per annum. It has its own terms of reference and oversees internal financial controls, policies and procedures. The Nominations Committee meets as required. The day to day running of the Foundation is delegated to the Director. Additional support is provided by the Chief Operating Officer of the Friends of Arundel Castle Cricket Club in his capacity as the Company Secretary.
The charity, through its close connections with the Friends of Arundel Castle Cricket Club Limited (FACCC) do share some staff, grounds and facilities costs. A joint finance subcommittee, comprising representatives of both organisations, meets as required to consider matters of mutual interest. The Foundation is mindful of its responsibility to ensure that any shared costs are directly in support of its charitable objectives.
In addition, a “Charitable Activities” working group was formed in 2020. This group supports the Director and reports into the Board of Trustees with the purpose of ensuring we continue to develop and deliver impactful programmes, aligned to the Charity’s objects.
b. Voluntary and staff support
The Trustees acknowledge with gratitude the advice and support given by the President, His Grace The Duke of Norfolk, DL and Henry Fitzalan Howard, Earl of Arundel.
In addition, the staff, coaches and volunteers play a huge part in the overall and ongoing success of the programme.
Page 2
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
Objectives and activities
a. Policies and objectives
The principal purpose of The Arundel Castle Cricket Foundation is to enhance the education and development of young people through cricket, sport and recreation. Our main emphasis in the last 37 years has been to concentrate on children disadvantaged by domestic circumstances and with limited opportunities. Our aim has been to address this position and give as many young people as possible the chance to improve and enhance their lives.
To achieve these objectives, we have historically concentrated our resources most particularly upon urban and inner city regions, running three programmes:
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The Inner London Borough programme, working with identified schools and other youth organisations (ages 8-18)
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A programme for children with special educational needs and disabilities (SEND)
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A local programme focusing on young people from West Sussex
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 3
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
Objectives and activities (continued)
b. Main activities undertaken to further the Company's purposes for the public benefit
The charity’s main activities have historically centred around the following three programmes:
Scheme One: INNER LONDON BOROUGH PROGRAMME
Using the Foundation’s unique setting, the emphasis has been upon using cricket and other activities to enhance the personal development of those young people attending. This includes visits to the castle and its gardens, bushcraft activity in the woodland, orienteering, healthy eating sessions, yoga and mindfulness, and visits to the beach. Accommodation, catering, pastoral care and attention are provided as an essential support to the programme.
In all cases, we seek to create magical experiences that give young people the tools and confidence they need to learn, grow and succeed. For many young people, the programme amounts to a series of firsts which is often hugely impactful and long lasting.
Further days are set aside for cricket matches for groups that are under-represented in society.
We work with carefully selected schools and other London based organisations, including cricket charities, that share our purpose and ethos.
Scheme Two: SPECIAL EDUCATION NEEDS AND DISABILITY PROGRAMME (SEND)
Over the course of the year, days are set aside for over 300 young people with a wide range of special educational needs and disabilities.
Many of these are SEND schools visiting for residential stays, where the range of activities undertaken enable these young people to develop important life skills. Again, the objective is to create magical experiences that lead to long lasting positive outcomes.
The teachers agree that accommodation for a stay overnight represents the most important step forward for the youngsters. Many have not been away from home before. These trips give them independence and responsibility.
Scheme Three: WEST SUSSEX PROGRAMME
A new strategy launched in 2021 increased our support for local communities.
Our programmes have thus far focussed on the following:
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young people who are struggling with their education, in partnership with carefully selected schools
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young people who have been excluded from mainstream education and young people living in care
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a family’s programme, supporting young people and their families facing various difficulties.
As with the first two strands of work, the aim is to create magical experiences that enable young people to grow in confidence and to develop their skills and character attributes. The difference with the local programme is that the young people involved may return for a series of visits rather than a one-off stay.
Page 4
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
Achievements and performance
a. Main achievements of the Company
This financial period was also the first year of a new three-year strategic plan. Whilst the strategy places a significant emphasis on improving the quality of all that we do, there are some quantitative targets, and we were delighted to report that record numbers participated in our programmes in 2023.
We provided 1,412 young people impacted by inequality of opportunity or disadvantage with magical experiences involving cricket and other educational and wellbeing based activities. That also amounted to 2,416 attendances over 72 days, with 29 partners.
Whilst the total number of young people that visit is important, it is the quality of the visit that matters most given the complex needs of many of the young people we work with and the subsequent impact. We continued to use our “Arundel Way” impact evaluation mechanism and saw significant increases in the eight characteristics and skills that we measure: positivity towards cricket, ambition, teamwork, focus, creativity, spirit of adventure, resilience and goal setting.
Over 400 young people visited from Inner London, many for residential stays of 2 or 3 days. We also surpassed record numbers for those experiencing the residential aspect of our programme.
Locally we continued to work with young people at the more vulnerable end of the scale and have committed further resources to our local programme where there is unmet need. Children living in care, children excluded from mainstream education and children struggling in school, formed the nucleus of our local community programme. We continued to support families facing difficulty in partnership with the Family Support Work charity by providing a series of one-off days of facilitated cricket and other sporting activity. In total, over 400 young people participated in these programmes.
Collaborative partnerships are key to the successful delivery of all of our programmes, and we have worked hard to identify appropriate new partners and to enhance the relationships with existing partners.
Charities are under greater scrutiny than ever. The board places significant emphasis on maintaining good governance. We recruited new members to the Board of Trustees and 3 long standing Trustees stood down having fulfilled their terms. We have updated our Health and Safety policies and practices and made further changes to our safeguarding processes.
b. Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Page 5
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
Financial review
a. Fundraising activities and income generation
During the period under review, the Foundation’s total income was £352,517 (2022: £408,770). Total expenditure was £415,054 (2022: £344,846). As a result, the Foundation recorded a deficit of £62,537 (2022: surplus £63,924).
As in previous years, the majority of our income came from donations, both from private individuals and from Trusts and Foundations. We supplemented this with four fundraising events including the annual cycle ride, a golf day, an 8 a side cricket day and a charity match with the Lord’s Taverners.
In view of our relatively strong financial position at the end of the 2021-22 financial year, aided by a significant surplus for that period, the Board took the decision to plan for a deficit budget for this financial year. Whilst we have exceeded the forecasted deficit, this was a deliberate course of action, discussed and agreed by the Finance and Audit Committee throughout the year, in order to deliver the record volume of charitable activity referred to in this report. The overspend is almost entirely due to the additional accommodation costs incurred by hosting a record number of young people in residential programmes.
The Trustees would like to place on record their immense gratitude to all the supporters of the Foundation, for enabling us to deliver a record-breaking programme of activities at a time when the needs of young people have arguably never been as great.
b. Investment policy and performance
The Trustees have an investment policy which is reviewed periodically. The policy requires that reserves are maintained with banks or building societies in interest bearing accounts of not more than 6 months withdrawal notice.
c. Going concern
The Trustees have reviewed the charity's available resources, historical performance and expected levels of income and expenditure for at least the 12 month period from authorising these financial statements and the Trustees are confident that the charity has adequate resources to continue in operational existence for the foreseeable future. The reserves policy detailed below provides further assurance of this. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 6
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
d. Reserves policy
The Board of Trustees have established a reserves policy whereby the unrestricted funds not committed or invested in fixed assets (the free reserves) held by the Foundation should represent at least 12 months of unrestricted annual expenditure. Those costs in the current year excluding fixed asset depreciation equate to £317,806 (2022: £215,833). At 31 October 2023, the actual Foundation free reserves excluding the net book value of fixed assets were £434,227 (2022: £460,512). A breakdown of these figures can be found in note 13. The restricted fund reserves at 31 October 2023 were £133,483 (2022: £171,877).
As a result of the deficit reported in the year, the charity’s cash position has fallen by £91,128, of this decrease £53,734 relates to a decrease in unrestricted cash, in line with the Board’s strategic plan as detailed below.
In 2018, reserves had been reduced to one month of unrestricted annual expenditure. The Board committed itself to restoring the level of reserves in line with the policy of 12 month’s unrestricted expenditure. A reduction in costs during the pandemic combined with a substantial legacy left to the Foundation took the unrestricted reserves significantly above our policy. However, the deficit recorded last year has brought us closer to the 12 months policy.
The Board of Trustees strongly believes it is prudent to retain this level of reserves to ensure we can deliver at least a year’s worth of charitable programmes in the event of a dramatic income downturn. In addition, this gives our partners certainty and confidence in the Foundation’s ability to deliver high quality programmes for the long term. It should also be noted that we are moving into year two of an ambitious three-year strategic plan, a plan which details an increase in programme participants and programme quality, all of which will increase expenditure. In addition, we are mindful of the ongoing effects of a challenging economic climate and rising costs. A further deficit budget is forecasted in 2024 to ensure we can achieve our charitable programme targets.
We will also continue to invest in the charity’s infrastructure. There are two significant capital programmes on the horizon, namely an extension to the existing office which is not fit for purpose, and a new disabled toilet and shower unit to enable us to work with young people with more complex needs.
Our strong financial platform underpins our strategy and will not only enable us to weather the current environmental challenges, but more importantly, to facilitate the delivery of more programmes, in a more impactful way, at a time when the needs of young people facing disadvantage in the various forms that can take, are as great as ever.
Page 7
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
e. Financial risk management objectives and policies
The Trustees have assessed the major risks to which the Foundation is exposed. A risk register has been established and is reviewed annually by the board. The Finance and Audit committee (FAC) meets twice per annum to review the policies and procedures relating to internal financial controls and procedures. In addition, monthly financial & management accounts are produced which the FAC reviews quarterly.
The major risks identified by the trustees include:
- Income generation and rising costs
The Trustees acknowledge that the challenging economic climate continues to pose a significant threat to the future income generation capability of the Foundation. To mitigate this, the Foundation continues to refine its fundraising strategy with the objective of broadening and enhancing its revenue base.
• Replacing key staff
A number of key members of the seasonal delivery team retired at the end of the financial year, having delivered outstanding service over many years. The success of charitable programmes is heavily dependent on the ability of our coaching to engage effectively with young people so we will be undertaking a significant recruitment campaign in early 2024.
• Safeguarding
All coaches and relevant staff are Disclosure and Barring Service (DBS) cleared and we comply fully with current Health and Safety Regulations which are checked annually. The charity has produced an independent safeguarding policy using the ‘ECB’ blueprint ‘Safe Hands’. A Foundation Officer undertakes the role of Welfare Officer. The nominated Trustee with responsibility for safeguarding is Rachel Foster.
• Relationship with connected entity
The charity is closely connected to the Friends of Arundel Castle Cricket Club Limited (FACCC) and this entails sharing of staff, grounds and facilities costs. The Foundation is extremely mindful of its responsibility to ensure that any shared costs are directly in support of its charitable objectives.
-
To mitigate this risk, a number of measures have been taken:
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A joint finance subcommittee, comprising representatives of both organisations, meets twice per annum to
-
consider matters of mutual interest
-
We adhere to Charities Commission “Guidance for charities with a connection to a non-charity”
-
We have compiled a written agreement that reflects the specifics of the arrangement between Friends of
-
Arundel Castle Cricket Club and the Charity
-
We will continue to review this arrangement with Kreston Reeves
-
The relationship with the Friends of Arundel Castle Cricket Club is a standing agenda item at all Finance
-
and Audit Committee meetings
Page 8
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
Plans for the future
2023-24 is year two of our three-year strategic plan and will see us strive for further growth at a quantitative and qualitative level. We are doing this because the relevance of our work has never been greater. The needs of young people are as great as ever. Furthermore, the need for greater equality, diversity and inclusion continues to be highlighted both in society and in the sport of cricket - our programmes focus exclusively on those who face inequality of opportunity or disadvantage in the wide variety of forms this can take. Like many other charities, we will continue to take on the mantle to make sure that as many young lives as possible are imbued with a spirit of joy and fulfilment, with new confidence and skills to better equip them in their lives.
A key strategic objective remains to broaden our revenue base, mindful of the fact our plans translate to increased costs within a challenging economic climate.
However, with our primary aim being to serve young people, we are comfortable that our reserves position enables us to proceed with confidence. Prevailing economic challenges and uncertainty does mean we still need to actively fundraise and consequently will be delivering a full series of fundraising events in 2024. In conjunction with this, the Trustees are also aware of the need to ensure that the charity is resilient and robust to withstand such future challenges and uncertainty.
We will also be developing our marketing capability and stakeholder communications.
Page 9
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 October 2023
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
G P Bristowe
Date: 15 April 2024
Page 10
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Independent examiner's report
For the year ended 31 October 2023
Independent examiner's report to the Trustees of Arundel Castle Cricket Foundation ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 October 2023.
Responsibilities and basis of report
As the Trustees of the Company (and 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 the Company's accounts 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
Since the Company'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 The Institute of Chartered Accountants in England & Wales, 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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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
-
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.
Signed: Dated: 18 April 2024
Lucy Hammond BSc FCA
Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
Page 11
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 October 2023
| Note Income from: Donations and legacies 3 Charitable activities: Gift aid Interest receivable Other trading activities: . Fundraising income Total income Expenditure on: Raising funds: Other costs Fundraising salary Charitable activities 4 Total expenditure Net (expenditure)/income Transfers between funds 12 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 225,517 15,941 9,208 38,351 289,017 1,231 15,111 309,931 326,273 (37,256) 13,113 (24,143) 499,101 (24,143) 474,958 |
Restricted funds 2023 £ 65,500 - - (2,000) 63,500 4,060 - 84,721 88,781 (25,281) (13,113) (38,394) 171,877 (38,394) 133,483 |
Total funds 2023 £ 291,017 15,941 9,208 36,351 352,517 5,291 15,111 394,652 415,054 (62,537) - (62,537) 670,978 (62,537) 608,441 |
Total funds 2022 £ 361,481 15,153 1,026 31,110 |
|---|---|---|---|---|
| 408,770 | ||||
| 3,401 10,000 331,445 |
||||
| 344,846 | ||||
| 63,924 - |
||||
| 63,924 | ||||
| 607,054 63,924 |
||||
| 670,978 |
The notes on pages 15 to 30 form part of these financial statements.
Page 12
Arundel Castle Cricket Foundation
(A company limited by guarantee) Registered number: 08018942
Balance sheet As at 31 October 2023
| Note Fixed assets Intangible assets 8 Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
23,115 571,173 594,288 (26,578) |
2023 £ 3,853 36,878 40,731 567,710 608,441 133,483 474,958 608,441 |
4,360 662,301 666,661 (34,272) |
2022 £ 5,669 32,920 |
|---|---|---|---|---|
| 38,589 632,389 |
||||
| 670,978 | ||||
| 171,877 499,101 |
||||
| 670,978 |
Page 13
Arundel Castle Cricket Foundation
(A company limited by guarantee) Registered number: 08018942
Balance sheet (continued) As at 31 October 2023
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
G P Bristowe
Date: 15 April 2024
The notes on pages 15 to 30 form part of these financial statements.
Page 14
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
1. General information
The Company is a private company limited by guarantee, incorporated in England and Wales. The members of the Company are the Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £10 per member of the Company.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Arundel Castle Cricket Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.
2.2 Going concern
The financial statements have been prepared on a going concern basis. In considering going concern the trustees have reviewed the charity’s available resources, historical performance and expected level of income and expenditure for at least the 12 month period from authorising these financial statements and consider the level of reserves held to be sufficient for the charity to be able to continue as a going concern.
Page 15
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
2. Accounting policies (continued)
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from donations and grants, including capital grants, is included in income when these are receivable, except as follows:-
When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.
When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in income until the pre-conditions for use have been met.
When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in restricted funds when receivable
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 16
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Taxation
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 17
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
2. Accounting policies (continued)
2.8 Intangible assets and amortisation
Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Website development - 5 % straight line
2.9 Tangible fixed assets and depreciation
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
- Leasehold improvements Over lease period - Sports & ground equipment 15-25% straight line basis including pitches - Office equipment 20% straight line basis
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand 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.
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 18
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
2. Accounting policies (continued)
2.13 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.14 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2.16 Value added tax
All expenditure shown in the financial statements is inclusive of value added tax where applicable.
Page 19
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
3. Income from donations and legacies
| Donations Legacies Grants Total 2022 |
Unrestricted funds 2023 £ 210,637 14,880 - 225,517 262,664 |
Restricted funds 2023 £ 65,500 - - 65,500 98,817 |
Total funds 2023 £ 276,137 14,880 - 291,017 361,481 |
Total funds 2022 £ 267,729 75,525 18,227 |
|---|---|---|---|---|
| 361,481 | ||||
In 2022, restricted donations were £80,590 and restricted grants were £18,227.
4. Analysis of expenditure by activities
| Charitable activities Total 2022 |
Activities undertaken directly 2023 £ 301,976 266,726 |
Support costs 2023 £ 92,676 64,719 |
Total funds 2023 £ 394,652 331,445 |
Total funds 2022 £ 331,445 |
|---|---|---|---|---|
Page 20
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
4. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Salaries Pension costs Catering, accommodation and travel for students Travel and subsistence Ground and facilities hire Insurance Cleaning and general maintenance Ground maintenance Charity day costs Rates and utilities Marketing Depreciation Amortisation Total 2022 |
Activities 2023 £ 119,550 6,233 94,017 2,257 6,979 8,464 12,295 11,252 20,186 6,612 5,664 6,651 1,816 301,976 266,726 |
Total funds 2023 £ 119,550 6,233 94,017 2,257 6,979 8,464 12,295 11,252 20,186 6,612 5,664 6,651 1,816 301,976 266,726 |
Total funds 2022 £ 104,436 3,024 67,465 1,021 6,768 5,968 7,889 11,859 33,466 4,609 12,845 5,560 1,816 |
|---|---|---|---|
| 266,726 | |||
Of the direct costs incurred in the year £217,287 (2022: £145,089) were from unrestricted funds and £84,689 (2022: £121,637) were from restricted funds.
Page 21
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
4. Analysis of expenditure by activities (continued)
Analysis of support costs
| Printing and stationery Telephone and postage Administration salaries Accounts and independent examination Computer expenses Sundry expenses Bank charges and interest Total 2022 |
Activities 2023 £ 545 674 72,157 11,056 3,540 4,584 120 92,676 64,719 |
Total funds 2023 £ 545 674 72,157 11,056 3,540 4,584 120 92,676 64,719 |
Total funds 2022 £ 2,137 1,795 38,015 10,068 2,921 9,663 120 |
|---|---|---|---|
| 64,719 | |||
Of the support costs incurred in the year £92,644 (2022: £64,719) were from unrestricted funds and £32 (2022: £nil) were from restricted funds.
During the year ended 31 October 2023, Arundel Castle Cricket Foundation incurred £11,056 (2022: £10,068) of governance costs. This is made up of solely accounts and independent examination fees.
5. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 3,540 | 3,390 |
| Fees payable to the Company's independent examiner in respect of: | ||
| All other services not included above | 7,516 | 6,678 |
Page 22
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
6. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 194,377 11,832 6,233 212,442 |
2022 £ 143,006 8,087 3,024 |
|---|---|---|
| 154,117 |
The average number of persons employed by the Company during the year was as follows:
| Director Coaching - part time Administration & fundraising |
2023 No. 1 4 2 7 |
As restated 2022 No. 1 3 1 |
|---|---|---|
| 5 |
There is also an allocation of wages and salaries for individuals from a connected entity (see note 16 for further details) that provide a shared service but these individuals are not included in the head count above. As such the comparative has been restated on the same basis.
No employee received remuneration amounting to more than £60,000 in either year.
The total employment benefits of the key management personnel were £77,100 (2022: £64,377).
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 October 2023, no Trustee expenses have been incurred (2022 - £NIL).
Page 23
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
| Notes to the financial statements For the year ended 31 October 2023 |
|
|---|---|
| 8. Intangible assets Cost At 1 November 2022 At 31 October 2023 Amortisation At 1 November 2022 Charge for the year At 31 October 2023 Net book value At 31 October 2023 At 31 October 2022 |
Website development £ 9,080 |
| 9,080 | |
| 3,411 1,816 |
|
| 5,227 | |
| 3,853 5,669 |
Page 24
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
9. Tangible fixed assets
| Leasehold improvements £ Cost or valuation At 1 November 2022 46,767 Additions - At 31 October 2023 46,767 Depreciation At 1 November 2022 24,840 Charge for the year 3,343 At 31 October 2023 28,183 Net book value At 31 October 2023 18,584 At 31 October 2022 21,927 10. Debtors Due within one year Other debtors Prepayments and accrued income 11. Creditors: Amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
Sports & ground equipment £ 42,113 9,375 51,488 34,933 2,256 37,189 14,299 7,180 |
Office equipment £ 4,772 1,234 6,006 959 1,052 2,011 3,995 3,813 2023 £ 19,330 3,785 23,115 2023 £ 3,188 13,448 9,942 26,578 |
Total £ 93,652 10,609 |
|---|---|---|---|
| 104,261 | |||
| 60,732 6,651 |
|||
| 67,383 | |||
| 36,878 | |||
| 32,920 | |||
| 2022 £ 1,275 3,085 |
|||
| 4,360 2022 £ 1,524 23,455 9,293 |
|||
| 34,272 |
Page 25
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
12. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Inner London Borough Community Programme Special Needs and Disability Programme Yorkshire and London Boys Tour to Arundel Building Works Grant Local Community Support Total of funds |
Balance at 1 November 2022 £ 499,101 129,117 11,521 15,445 14,884 910 171,877 670,978 |
Income £ 289,017 47,000 7,000 - - 9,500 63,500 352,517 |
Expenditure £ (326,273) (60,623) (20,853) - (3,343) (3,962) (88,781) (415,054) |
Transfers in/out £ 13,113 - 2,332 (15,445) - - (13,113) - |
Balance at 31 October 2023 £ 474,958 |
|---|---|---|---|---|---|
| 115,494 - - 11,541 6,448 |
|||||
| 133,483 | |||||
| 608,441 |
Page 26
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
12. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Inner London Borough Community Programme Special Needs and Disability Programme Yorkshire and London Boys Tour to Arundel Building Works Grant Local Community Support Total of funds |
Balance at 1 November 2021 £ 412,357 146,426 32,826 15,445 - - 194,697 607,054 |
Income £ 309,953 61,500 7,000 - 18,227 12,090 98,817 408,770 |
Expenditure £ (223,209) (78,809) (28,305) - (3,343) (11,180) (121,637) (344,846) |
Balance at 31 October 2022 £ 499,101 |
|---|---|---|---|---|
| 129,117 11,521 15,445 14,884 910 |
||||
| 171,877 | ||||
| 670,978 |
Page 27
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
12. Statement of funds (continued)
I nner London Borough Community Programme
In the region of 400 young people from Inner London visit on an annual basis, with many coming from areas of high levels of deprivation.
The emphasis is placed upon the development of those young people attending, through cricket and other activities that our unique setting affords us. This includes visits to the castle and its gardens, bushcraft activity in the woodland, healthy eating sessions, yoga and mindfulness, and visits to the beach. Accommodation, catering, pastoral care and attention are provided as an essential support to the programme.
Special Needs and Disability Programme
Typically over 300 young people with special educational needs and disabilities visit for either day trips or residential programmes. The aims of these programmes include developing new skills, both social and practical, and improving levels of confidence and self-esteem. It is also about learning about independence as many of these youngsters are starting to consider independent living.
Yorkshire and London Boys Tour to Arundel
Further to discussions with the primary Donor, this programme has been discontinued to enable greater focus to be given to other programme lines.
Building Works Grant
This was a grant received in order to fund building works for the charity, to include renovation of pavilion facilities and improved wheelchair access.
Local Community Support
A new strategy released in 2020 stated the Charity’s desire to deliver an enhanced range of programmes for children from local communities. With programmes again centred around cricket, outdoor recreation and our unique historic setting, the programme focusses on young people struggling with school, young people excluded from school, young people living in care and young people facing difficulties in other forms. The programme provides enrichment opportunities that seek to develop character traits and new skills, including of course, cricket.
Page 28
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
13. Reserves policy in Trustees' Report
The following table shows a breakdown of the figures disclosed in the Reserves policy within the Trustees' report on page 7:
| Unrestricted expenditure Depreciation Amortisation Unrestricted annual expenditure |
2023 £ 326,273 (6,651) (1,816) 317,806 |
2022 £ 223,209 (5,560) (1,816) |
|---|---|---|
| 215,833 |
.
| Unrestricted fund NBV of fixed assets Free reserves |
2023 £ 474,958 (40,731) 434,227 |
2022 £ 499,101 (38,589) |
|---|---|---|
| 460,512 |
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 36,878 3,853 460,805 (26,578) 474,958 |
Restricted funds 2023 £ - - 133,483 - 133,483 |
Total funds 2023 £ 36,878 3,853 594,288 (26,578) |
|---|---|---|---|
| 608,441 |
Page 29
Arundel Castle Cricket Foundation
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 October 2023
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 32,920 5,669 494,784 (34,272) 499,101 |
Restricted funds 2022 £ - - 171,877 - 171,877 |
Total funds 2022 £ 32,920 5,669 666,661 (34,272) |
|---|---|---|---|
| 670,978 |
15. Pension commitments
Defined contribution pension plans:
The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £6,233 (2022 - £3,024).
The defined contribution expenses is allocated to unrestricted funds and charitable activities.
16. Related party transactions
There were no individual related party transactions during the period or the previous period. However, there is a longstanding relationship with Friends of Arundel Castle Cricket Club Limited through the sharing of staff and other costs. The Board is very mindful of its responsibility to ensure that any shared costs are directly in support of its charitable objectives
Page 30