Cricket Builds Hope (“CBH”) (previously known as Rwanda Cricket Stadium Foundation (“RCSF”)) Registered Charity Number 1157287 Summary consolidated financial statements and Trustees’ Report for the year ended 31 December 2020
BUILDING A FUTURE FOR CRICKET IN RWANDA
Legal and Administrative Information
Officers
Directors and Trustees
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The Directors of the Charity Cricket Builds Hope (CBH) are its Trustees for the purpose of charity law. The Trustees of the Charity who were in office during the period and up to the date of the signing of the Financial Statements in January 2021 were:
Trustees as at signing of this Report (unchanged from 2019)
Richard Nicoll (Chair) Alan Sendorek Graeme Loten (Treasurer) Amy Holmes Albemarle Shale Kevin Sinfield Sophie Langman Sarah Ludlow Richard Jackson Charlie Barlow
Staff
No staff were employed as employees of CBH during 2020.
Mary Maina worked in Rwanda throughout the year with a consultancy contract which had started in September 2019 and held the title of Country Manager. Mary had previously worked as CBH’s Programme Manager for a former women’s empowerment programme between 20172019.
Reference and Administrative details
Registered Charity Number 1157287
Official Charity Address
Cricket Builds Hope 13 Cloudesley Square, London N1 0HT
Bankers
CAF Bank Limited (Charities Aid Foundation), 25 Kings Hill Avenue, West Malling, Kent, ME19 4JQ
Solicitors
Reed Smith, Broadgate Tower, 20 Primrose St, London EC2A 2RS
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Structure, Governance & Management
Date of Registration – 3 June 2014
Type of Governing Document - Constitution (officially adopted 3 June 2014; amended 6 February 2017 and to show the change of name on 11 April 2018)
How the Charity is constituted- Charitable Incorporated Organisation
Trustee Selection Methods
Trustees are appointed or re-appointed by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for appointment to the Board, the Charity Trustees have regard to the skills, knowledge and experience needed for the effective administration of the organisation. All Charity Trustees give their time voluntarily and receive no benefits from the Charity.
Trustee Induction Process
New Trustees are presented with a copy of the charity’s governing document, the latest Trustees’ Annual Report, a statement of accounts, a briefing note summarising the Charity’s background and current activities and the Charity Commission’s guide notes on Trustee responsibilities and code of conduct.
Employee Recruitment Process
Employees are appointed by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for employment, the Charity Trustees have regard to the skills, knowledge and experience needed for the specified role of the organisation.
In the case of expatriate employees in Rwanda, the Charity is required by Rwandan law to demonstrate that it is unable to find a suitable employee in the Rwandan labour market. Only once this is complete can the employer lodge sponsorship for a foreign worker to fill a nominated position. A labour market test must last 6 weeks from the date of the first advertisement.
Organisational Structure
CBH has a Board of Trustees which meets usually meets on the last Tuesday of every alternate month and is responsible for the strategic direction and policy of the Charity. The Trustees are from a variety of professional backgrounds relevant to the work of the Charity. During most
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of 2020 these Trustee meetings were held remotely because of the covid pandemic but the schedule of meetings was respected. The Country Manager was also usually invited to attend Trustee meetings remotely from Rwanda.
Sub-committees for the areas of Finance & Governance, Fund-Raising, Construction, Programmes, and Marketing & Media were established in 2018. This structure operated sporadically during 2019 but fell into disuse during 2020, even though the appointed Chairs of the relevant subcommittees usually took on primary responsibility for CBH’s activities in their given area.
Trustees
There have been no changes in Trustees since 2019.
Employees
On the termination of the previous Project Director’s contract in October 2019, Trustees decided to appoint its Programme Manager on the women’s empowerment programme, Mary Maina, to continue in the post of Country Manager fulfilling most of the Project Director’s roles (but not as Chair of GCS, see below) and under the close supervision of the Chair and Treasurer. This arrangement continued throughout 2020.
Transition from RCSF to Cricket Builds Hope (“CBH”)
Once the initial objective of the Charity, namely the construction of the Gahanga Cricket Stadium in Rwanda, had been completed, the Board of Trustees decided during 2018 to rebrand the Charity as Cricket Builds Hope. This was to recognise the transition of the Charity’s focus from being a construction project to a social project with two aims: first, through its involvement with GCS (see below), to oversee the ongoing operation of the ground, its use and future expansion to support Rwanda’s cricket development, and second, in its own name to develop and deliver programmes with partner organisations using cricket as a tool for social change. The transition to CBH officially took place in April 2018.
Risks and Risk Management
The Trustees consider the various significant risks to which the Charity may be exposed and are confident that they have appropriate systems in place to mitigate these risks. Where appropriate, systems or procedures have been established to mitigate risks the Charity faces. External operational risks in Rwanda have led to the implementation of a funding/delivery agreement between CBH and GCS. Internal risks are minimised by the implementation of procedures for authorisation of all
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transactions and selected activities. Such procedures are periodically reviewed to ensure they continue to meet the needs of the Charity.
Objectives & Activities
The Charity’s purposes or objectives, as set out in its governing document have been modified since its incorporation. Its objectives in 2020 were and continue to be:
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•To promote community participation in healthy recreation for the benefit of the inhabitants of Rwanda by the provision of facilities for playing cricket.
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•In furtherance of the above objective, but not otherwise, to construct and manage, on a not-for-profit basis, the first dedicated cricket facility in Kigali, Rwanda.
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•To include within the cricket facility and operate and/or manage (within and/or outside the facility) such other activities and facilities as the charity trustees may decide from time to time so that the playing and/or coaching of cricket will form part of a coordinated approach to challenges facing Rwandans relating in particular to reconciliation, health, education, gender equality, and the protection of children and vulnerable adults.
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•To benefit Rwandans without distinction of gender, sexual orientation, race or of political, religious or other opinions, by associating together with the community and the local authorities, NGOs, voluntary and other organisations in a coordinated effort to overcome the said challenges.
During 2019 the Fundraising and Marketing Sub-Committees undertook a strategic review covering previous fundraising successes and challenges, the external market/landscape and setting out a strategy for future fundraising focus and success. This resulted in the Charity adopting the following as its Mission Statement -
“We use cricket and the spirit of the game as a tool for positive social change in Rwanda”.
Cricket Builds Hope harnesses the power of sport to promote reconciliation through social programmes. We integrate this incredible game with workshops that focus on equality, empowerment and social cohesion.
Related Parties
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Gahanga Cricket Stadium (“GCS”) - formerly Rwanda Cricket Stadium Foundation, (Rwandan Registered Non-Governmental Organisation)
The Charity established and now works with a separate Rwandan entity, GCS, to deliver its objectives, notably with relation to the Stadium itself. This entity was set up as the operational or delivery agent of CBH and RCA and is registered as a national NGO in Rwanda.
As such it is legally entitled to own land in Rwanda and holds the leasehold title to the territory on which the Gahanga Cricket Stadium was built, with the Government of Rwanda retaining the freehold. It was responsible for the construction of the Stadium, and continues to be responsible for its maintenance and repair, as well as the management of the ground and its associated facilities.
In accordance with undertakings given in the Memorandum of Understanding initially signed with the RCA in 2013 and revised in 2017 (see below) the Charity has continued to make occasional payments to GCS. In 2020 these included payment for the final construction works relating to the smallest pavilion, some repairs and the fulfilment of certain obligations placed on the stadium by the Kigali authorities (eg the installation of cables for the CCTV). CBH also allowed GCS to share the use of its car in Rwanda for which CBH met all costs.
The Charity’s nominees currently hold the majority in the GCS’s General Assembly which in turn controls the appointment of GCS’s Executive Committee – see below for more information on this – and took an active role in all decisions relating to GCS during 2020.
Rwanda Cricket Association (“RCA”)
The Charity has always worked closely with the RCA to deliver the ground and thereafter to manage its continuing use and maintenance. This relationship includes ongoing discussion on how the ground will be run and funded post-construction. The relationship between the two organisations is formally established under a Memorandum of Understanding initially signed in 2013.
During 2017 key terms of the Memorandum of Understanding dealing with the governance of GCS and the respective obligations of RCSF/CBH and the RCA in relation to funding and other matters were renegotiated and agreed in a new Agreement. At the same time, a Usage Agreement recording the rights and obligations of RCA to use the ground was negotiated and signed by RCA and GCS.
Relations remained close during 2020, albeit that the covid pandemic meant that the level of activity at GCS was greatly reduced. The President of RCA acted as the Chair of the GCS Executive Committee and retained
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close relations with CBH’s Country Manager (also a member of the EC) and the CBH Chair throughout 2020. CBH’s Treasurer, Graeme Loten, managed the online banking of GCS as one of two signatories.
Government of Rwanda, Ministry of Sports
The Charity is grateful to the Government of Rwanda, and particularly the Ministry of Sport (MINISPORTS - formerly Ministry of Sports and Culture, MINISPOC) for their support of their work in Rwanda. The site of the ground has been leased to GCS by the Government of Rwanda for 30 years from 4 November 2014.
Activities and Achievements
Construction
The construction of Gahanga Cricket Stadium took place in the period 2015 – 2017, with phase 1 (the outfield plus essential services) being provided by All Africa Golf (“AAG”) and phase 2 (the construction of the pavilions) carried out by ROKO Construction, in collaboration with Light Earth Designs. AAG also trained five groundsmen to maintain the facility. The Stadium was opened by President Kagame on 28 October 2017, marking the achievement of the Charity’s principal objective.
During 2019 agreement was reached with ROKO over some repairs and maintenance to be carried out at the stadium together with the construction of a roof in the smallest vault. These works were carried out at the beginning of 2020, shortly after which ROKO apparently departed from Rwanda and is no longer represented there. All maintenance functions are now the responsibility of GCS.
Programme Activities
Cricket Builds Hope’s first major programme activity was a female empowerment programme, funded by Comic Relief and the Scottish Government, in partnership with female leadership international NGO ‘Resonate’ which was implemented in 2018-2019. Activities took place at the Gahanga Cricket Stadium and focussed on young women aged 18-25 from the adjacent Gahanga administrative sector. The first few months of 2020 saw work on the reporting of this programme, which technically finished in December 2019, and its results along with some ad hoc sessions of former beneficiaries to gather feedback from them. Although a draft programme for a replication of this women’s empowerment programme was prepared and shared with several potential donors, the covid pandemic meant that no funder was found and no further programme activity was possible.
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In March 2019, a 3-year programme of cricket coaching to be implemented in schools in the vicinity of certain tea estates in Rwanda was launched at Gisovu estate. This was funded by Betty’s and Taylor’s of Harrogate, the parent company of Yorkshire Tea, which enjoyed commercial contacts with the tea estates concerned. The training, which was directed at both staff of the tea estates themselves and schoolchildren from the area, was carried out by coaches from the RCA. Yorkshire Tea sponsored the 3-year programme at a total cost of £100,000, approximately half of which was passed to RCA for its operational costs with the balance retained by CBH as unearmarked sponsorship. This programme built on Yorkshire Tea’s sponsorship payment linked to the bars in the Gahanga Cricket Stadium
In 2019 this coaching programme was carried out only in and around Gisovu tea estate, with the estates of Pfunda and Nyabihu being added during the course of 2020. A well-attended launch of this programme was held in Pfunda in February 2020 and the programme started in Nyabihu in September 2020. Unfortunately, the covid pandemic and the consequent closure of schools throughout Rwanda meant that cricket coaching on school premises was limited and to the extent that coaching was able to be carried out it was often outside of school time and often at the coach’s own home. A renewed schedule of payments to RCA for this programme was agreed in 2020 which allowed the programme to continue in all three estates until the end of January 2022. It was envisaged that the programme would terminate with the holding of a Yorkshire Tea Cup in early 2022 with teams of both boys and girls from each estate area travelling to the GCS to celebrate the programme by taking part in a cricket festival.
Fundraising/Partnerships
Unfortunately, the covid pandemic meant that no major fund-raising events for CBH were possible in the UK during 2020. Some Trustees followed their Chair’s fine example by holding sponsored events at their homes during the lockdown which raised in excess of £8,000 and regular subscriptions from Friends and supporters continued to be paid.
In addition, a grant of £1,250 per month for one year was made by Mr Michael Finlay’s company, Ark Build, designed to allow CBH to enhance its fund-raising. The online carol service held in December 2020 raised some funds from tickets and a raffle which were only transferred to CBH’s account in 2021.
During the period January – March 2020 the Charity made the final three repayments totalling £20,000 of an interest-free loan of £50,000 from one of its private supporters.
Activities at the Gahanga Cricket Stadium
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Immediately following the opening of the Stadium in October 2017 and the inaugural CBH Twenty20 Tournament for eight teams from four different countries, cricket continued to be played at the Stadium at a high level. Some non-cricket events such as music concerts, commercial awaydays and weddings also took place which earned extra income for GCS. However, most cricket and non-cricket events were cancelled during 2020 because of the Covid pandemic.
Registration of CBH as an International Non-Government Organisation in Rwanda
The process of registering CBH as an International Non-Government Organisation (INGO) with the Rwanda Governance Board (RGB) had been started in 2019 but had been delayed because of issues with the RGB’s online registration portal, the need to search for all the required papers and, more recently, the Covid pandemic. This registration is important as it officially authorises CBH to operate in its own right in Rwanda, employing staff, paying taxes where relevant etc. CBH’s registration certificate was finally granted in December 2020 with a validity until September 2021 when the registration would need to be renewed.
Memorandum of Understanding (MOU)
As part of the INGO registration process, CBH exchanged a MOU with RCA and MINISPORTS on 3 November 2020. This MOU will run for 3 years and established a framework collaboration agreement between the three parties for the implementation of sports programmes (especially cricket) to benefit Rwandan communities by developing other aspects of life (sports for development) as well as programmes to promote the development of cricket (sports development).
The first programme recognised as being implemented under this MOU is the ongoing Yorkshire Tea programme referred to above.
The MOU identified areas of mutual collaboration and outlined the responsibilities of each party in pursuing the collaboration. For example, CBH will lead the implementation of all sports for development programmes, source funds, monitor and co-ordinate all programmes.
Each new programme to be delivered under this framework MOU is to be covered by an addendum to be agreed by the parties at the time. Principally because of the Covid pandemic, no such addendum has so far been signed or required.
Plans for Future Period
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With most programme activities in Rwanda and fund-raising activities in the UK having been cancelled or postponed during 2020, planning for the following year had to retain a degree of flexibility.
By year-end CBH were working on two major applications for funds from Comic Relief under their Sport for Development programme which, if agreed, could have transformed the Charity’s cricket for change activities. These applications were for a second stage of the already implemented women’s empowerment programme and, in cooperation with Action Aid Rwanda, a programme which sought to give sexual health advice to schoolchildren through the medium of cricket sessions and workshops run by experts.
Financial Review
The Charity’s total income for the 12 months ending 31 December 2020 was £131,773 (2019: £100,508). Of this figure £3,435 was received from Comic Relief as the final grant for the female empowerment programme, and £80,000 was received from Yorkshire Tea. Contributions from Ark Build, some fund-raising from sponsored events and occasional or regular donations from individuals accounted for the balance.
From July 2020 monthly contributions which had been previously made by Ark Build directly to GCS were henceforth deposited in CBH’s account at a rate of £1,250 per month (£7,500 in the whole of 2020). These funds were then sent to CBH’s account in Rwanda for transfer to GCS. In addition, two British touring cricket teams who visited Rwanda in the early months of 2020 paid their ground fees and some other forecastable expenses into CBH’s account so that they could similarly be transferred to GCS. The total income received by CBH for transfer to GCS in 2020 amounted to £12,130.
The Charity’s total expenditure for the year ending 31 December 2020 was £90,099 (2019: £123,569). Of this £20,000 was used to pay off the balance of the loan referred to under “Fundraising and Partnerships” above, £27,100 was spent in payments to RCA for the Yorkshire Tea coaching programme, £15,750 was paid to GCS and approximately £19,250 was spent on operating costs, including consultancy payments in Rwanda. Although a final grant was received from Comic Relief during 2020, this reimbursed CBH for expenditure which had been incurred during the programme’s implementation in 2019.
Of the £80,000 received from Yorkshire Tea, 40-50% was designed to be passed to the RCA for their implementation of the coaching programme up to the end of the programme, scheduled for January 2022. Yorkshire Tea agreed to give CBH what amounted to two years of payments for this programme within one calendar year for their own budgetary convenience.
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At year end CBH had £58,500 in its accounts in the UK plus a few thousand pounds worth of funds in its foreign currency accounts in Rwanda available for day-to-day expenditure. Just under half of this was earmarked for CBH’s commitments to GCS and the Yorkshire tea programme.
Risk management
As noted above, the Trustees consider the various significant risks to which the Charity may be exposed and are confident that they have appropriate systems in place to mitigate these risks.
Rwanda continues to display the characteristics of an emerging market. These characteristics include, but are not limited to, political uncertainty and macroeconomic vulnerability. Taxation and other legislation within Rwanda are subject to change and interpretation. The future economic direction of the country is dependent upon the effectiveness of economic, financial and monetary measures undertaken by the government, together with tax, legal, regulatory, and political developments.
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•Cash flow risk. The Trustees understand and accept there is a cash flow risk facing the Charity to meet all expenditure commitments. To mitigate this risk, the Treasurer prepares the following:
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Annual cash flow forecasts in January each year.
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Updated cash flow forecasts based on actual cash and forecasted cash flows which are prepared at least on a bi-monthly basis to coincide with Board meetings.
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Regular reports to the Board of Trustees on the on-going cash position of the Charity.
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•Credit risk. This is deemed to be low-to-moderate. Cash is placed held in an account at CAF Bank, a reputable financial institution in the United Kingdom which specialises in keeping accounts in the charity sector. Funds held in CBH’s five bank accounts at the Bank of Kigali in Rwanda would typically only be enough for a few months’ operations.
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•Property rights risk. The ownership of the cricket ground by GCS is dependent upon the maintenance of ‘property rights’ within Rwanda. There is a theoretical risk (associated with any emerging markets investment) that the government could deprive GCS of the right to own in Rwanda with a knock-on risk to CBH’s investment.
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•Foreign exchange risk. Funds are being raised primarily in £ sterling and held in a £ sterling bank account in the UK (CAF Bank). Minimal balances are held in Rwandan Francs and in US$ in Rwanda. In 2020 the Charity did not incur any expenditure any foreign currency other than Rwandan francs. Going forwards this is unlikely to change.
Statement of Trustees’ Responsibilities
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The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under that 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 the affairs of the charity and of the incoming resources and application of resources of the charity 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 in the Charities SORP
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•make judgments and estimates that are reasonable and prudent
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•state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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•prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed on behalf of the Trustees
Richard Nicoll Chairman and Trustee 28 September 2021
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Independent Examiner’s report to the trustees of Cricket Builds Hope
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2020, which are set out on pages 15 to 20.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the Charity’s Act 2011.
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of independent examination.
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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.
Peter Mills FCA
The Institute of Chartered Accountants in England & Wales Wayside, Effingham Road, Copthorne, West Sussex, RH10 3HY 31 October 2021
Cricket Builds Hope Consolidated Statement of Financial Activities For the Year Ended 31 December 2020
| Total last Note Year Incoming Resources Donations & Gift Aid 2 Yorkshire Tea Donation Coutts Fundraising Dinner 11,911 Surrey CC Comic Relief 30,915 Fees to be paid to GCS Fund Raising Events 2,570 Interest Income |
Unrestricted Restricted Total this Funds Funds Year 23,115 0 23,115 25,088 45,000 35,000 80,000 20,000 0 0 0 0 0 0 10,000 0 3,435 3,435 0 15,008 15,008 0 11,904 0 11,904 24 0 24 24 |
|---|---|
| Total incoming resources 100,508 |
80,043 53,443 133,486 |
| Outgoing Resources Direct Salary Costs 28,493 Travelling 3 |
12,277 0 12,277 0 0 0 981 |
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| Administrative Costs | 2,693 | 0 | 2,693 | ||
|---|---|---|---|---|---|
| 2,239 | |||||
| Bank Charges | 60 | 0 | 60 | ||
| 60 | |||||
| Fundraising Costs |
1,150 | 0 | 1,150 | 2,966 | |
| Local Costs Rwanda | 6,969 | 0 | 6,969 | ||
| 18,320 | |||||
| Gahanga Cricket Stadium | 0 | 15,750 | 15,750 | ||
| 4,380 | |||||
| Comic Relief | 0 | 0 | 0 | ||
| 30,914 | |||||
| Yorkshire Tea | 0 | 27,100 | 27,100 | ||
| 6,300 | |||||
| Stadium Construction |
0 | 0 | 0 | 28,916 | |
| Total outgoing resources | **23,149 ** | 42,850 | 65,999 | ||
| 123,569 | |||||
| Net Movement in Funds | **56,894 ** | 10,593 | 67,487 | ||
| (23,061) |
Cricket Builds Hope Consolidated Balance Sheet as at 31 December 2020
| Total last Current Assets Cash at Bank 17,726 Debtors ______ Total Current Assets 60,213 17,726 |
Unrestricted Restricted Total this Notes Funds Funds Year Year 43,752 14,748 58,500 1 1,713 0 1,713 0 ______ 45,465 14,748 |
|---|---|
Creditors: amounts falling ____________
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due within one year 2 0 0 25,000
0
____________ Net Current Assets/(Liabilities) 45,465 14,748 60,213 (7,274)
________ Net Assets/(liabilities) __________ 45,465 14,748 60,213 (7,274)
Funds of the Charity ________ Unrestricted funds 5 45,465 0 45,465 (11,429) Restricted income funds 6 0 14,748 14,748 4,155 Total funds __________ 45,465 14,748 60,213 (7,274)
The notes on pages 17 to 20 form part of these financial statements. The____________ financial statements on pages 15 to 16 were approved by the Trustees at their meeting on 26 January 2021.
Signed by the Trustees:
Richard Nicoll Date: 31 October
2021 Graeme Loten (Treasurer) Date: 31 October 2021
Notes to the Financial Statements for the year ending 31 December 2020
Accounting Policies
Basis of preparation
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The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2016.
The Trustees regularly review the strength of the financial position of the Charity and the financial statements are prepared on a going concern basis.
Incoming resources
The incoming resources are recognised on a receivables basis.
Resources expended
Expenditure has been charged to the Statement of Financial Activities on an accruals basis. Grants payable, which do not have any conditions attached, are accounted for in full as liabilities of the Charity when approved by the Trustees.
Fund accounting
The Charity has two types of funds, the unrestricted funds and restricted funds. The former are designated by the donor for the use of the Charity but not restricted to a specific part of the project. The latter involves funds which are received from a donor for use in a specific programme and against a specific budget and objectives.
Cash flow statement
The Charity qualifies as a small entity. Consequently, the Charity has taken advantage of the exemption from preparing a cash flow statement under the terms of paragraph 1.12 of FRS102.
Notes to the Financial Statements for the year ending 31 December 2020 (continued)
Share capital
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CBH is a Charity limited by guarantee. According to the Articles of Association the liability of each member is a maximum of £1. During the period the Charity had no share capital.
Taxation
As a registered charity, Cricket Builds Hope is exempt from tax on income and profits applied for its charitable purposes.
The purpose of these summary consolidated financial statements is to provide stakeholders with financial information. The summary consolidated financial statements have been prepared under the historical cost convention. The preparation of financial statements requires management to make prudent estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of income and expenses during the reporting period, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.
Basis of consolidation & accounting period
The summary consolidated financial statements reflect all transactions for the 12 month period ending 31 December 2020.
Reporting currency
These summary consolidated financial statements have been stated in GBP £.
Cash and cash equivalents
Cash and cash equivalents comprise cash held in our CAF bank accounts in the UK plus a small balance in a PayPal account held online. There are small amounts of cash held in the Charity’s bank accounts in Rwanda used for day-to-day expenditure in Rwanda but no petty cash balances.
Notes to the Financial Statements for the year ending 31 December 2020 (continued)
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Note 1 – Debtors
----- Start of picture text -----
2020
2019
£ £
Fund Raising Events 1,713
-
___________
_______
Note 2 – Creditors: amounts falling due within one year
2020
2019
£ £
Loans Payable
Short term liability (< 1 year) -
20,000
Outstanding amount due to constructors -
5,000
Total -
25,000
----- End of picture text -----
The loan was provided to the charity on an interest free basis and was repaid in full in July 2020.
Note 3 – Donations and Gift Aid
This represents all donations received plus gift aid on all donations to the Charity.
Note 4 – Trustees Remuneration
The payments to Trustees during the year was £0 (2019 - £981)
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Notes to the Financial Statements for the year ending 31 December 2020 (continued)
Note 5 – Unrestricted Funds
| Balance at | Balance | Balance | ||
|---|---|---|---|---|
| at | ||||
| 1 Jan 2019 | Income | Expenditure | 31 | |
| Dec 2019 | ||||
| £ | £ | £ | £ | |
| Cricket Builds | ||||
| Hope 1,316,675 |
62,593 | (86,355) | ||
| 1,292,913 | ||||
| Less Transfer | ||||
| Fixed Assets | (1,304,342) | |||
| (1,304,342) | ||||
| _______________ | ||||
| ___ | ||||
| Total 1,316,675 |
62,593 | (1,390,697) | ||
| (11,429) | ||||
| Balance at | Balance | |||
| at | ||||
| 1 Jan 2020 | Income | Expenditure. | 31 | Dec |
| 2020 |
£ |
£ |
£ | |
| £ | ||||
| Cricket Builds | ||||
| Hope (11,429) |
80,043 | (23,149) | ||
| 45,465 | ||||
| Total (11,429) |
80,043 | (23,149) | ||
| 45,465 |
Note 6 – Restricted Funds
| Balance at | Balance | |||||
|---|---|---|---|---|---|---|
| at | ||||||
| 1 Jan 2019 | Income | Expenditure | 31 | |||
| Dec 2019 | £ | £ | £ | £ | ||
| Cricket Builds | ||||||
| Hope | 3,454 | 37,915 | (37,214) | |||
| 4,155 |
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| Balance at | Balance | |||||
|---|---|---|---|---|---|---|
| at | ||||||
| 1 Jan 2020 | Income | Expenditure | 31 | |||
| Dec 2020 | £ | £ | £ | £ | ||
| Cricket Builds | ||||||
| Hope | 4,155 | 53,443 | (42,850) | |||
| 14,748 |
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