Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Cricket Builds Hope (“CBH”) (known as Rwanda Cricket Stadium Foundation until 2018) UK Registered Charity Number 1157287
Summary consolidated financial statements and Trustees’ Report for the year ended 31 December 2021
BUILDING A FUTURE FOR CRICKET IN RWANDA
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Contents
| Contents | |
|---|---|
| Legal and Administrative Information | 3 |
| Structure, Governance & Management | 5 |
| Statement of Trustees’ Responsibilities | 13 |
| Independent Examiner’s report to the Trustees of Cricket Builds Hope | 15 |
| Financial Statements and Notes | 16 |
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Legal and Administrative Information
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
Objectives & Activities
The Charity’s purposes or objectives, in 2021 were :
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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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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Objectives & Activities continued
- 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.
In 2019 the Charity adopted 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.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
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
Directors and Trustees
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 calendar year of 2021 were:
Trustees in 2021 (unchanged from 2020)
Richard Nicoll (Chair) (Appointed 18 September 2014) Alan Sendorek (Appointed 1 July 2014) Graeme Loten (Treasurer) (Appointed 30 May 2017) Amy Holmes (Appointed 26 September 2017) Albemarle Shale (Appointed 1 January 2018) Kevin Sinfield (Appointed 15 May2018) Sophie Morrell (nee Langman) (Appointed 15 May 2018) Sarah Ludlow (Appointed 7 August 2019) Richard Jackson (Appointed 26 January 2020) Charlie Barlow (Appointed 25 February 2020)
There were no changes in Trustees during 2021, although some prospective Trustees were showing interest and were being interviewed by year end.
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, as well as the need for the Board to be as diverse and inclusive as possible. All Charity Trustees give their time voluntarily and receive no benefits from the Charity.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Structure, Governance & Management continued
In September 2021 Trustees agreed a new policy by which in future they would serve terms of 4 years, being required to be re-appointed for further terms, with existing Trustees’ terms of service being deemed to end according to an agreed timetable over the next few years.
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.
Employees and Consultants
No staff were employed as employees of CBH during 2021
As well as the Trustees, the Trustees consider the Country Manager and Interim Country Representative (when these posts were filled) as the Key Management Personnel.
Mary Maina worked in Rwanda until May 2021 under a consultancy contract from September 2019 and held the title of Country Manager. She gave notice to terminate her contract in May 2021. Vincent Habumugisha was recruited as a part time consultant to act as Interim Country Representative for CBH from May – October 2021. Thereafter CBH took the decision to start the recruitment process for a fulltime Director to represent it both in Rwanda and in the UK.
Organisational Structure
CBH has a Board of Trustees which usually meets 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 2021 many of 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 until she terminated her contract in May 2021.
Individual Trustees are given primary responsibilities for the areas of finance and governance etc based on their expertise.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Structure, Governance & Management continued
Transition from RCSF to Cricket Builds Hope
Once the initial objective of the Charity, namely the construction of the Stadium now known as the Gahanga Cricket Stadium (“the 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 the Rwandan NGO now known as Gahanga Cricket Stadium (“GCS”) which is the leasehold owner of the land on which the Stadium has been built (see below), to oversee the ongoing operation of the Stadium, 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. Such procedures are periodically reviewed to ensure they continue to meet the needs of the Charity.
Related Parties
Gahanga Cricket Stadium (“GCS”) – until 2018 known as Rwanda Cricket Stadium Foundation, (Rwandan Registered Non-Governmental Organisation No 04/2012)
The Charity established and now works with a separate Rwandan entity, GCS, to deliver its objectives with relation to the Stadium itself. This entity was set up as a non-governmental organisation (NGO) in Rwanda as the operational or delivery agent of CBH and RCA and is registered as a national NGO in Rwanda. h was later changed to Gahanga Cricket Stadium (GCS).
As such GCS is legally entitled to own land in Rwanda and holds the leasehold title to the territory on which the 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.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Structure, Governance & Management continued
Related Parties continued
In accordance with undertakings given in the Memorandum of Understanding initially signed with the Rwanda Cricket Association in 2013 and revised in 2017 (see below) the Charity has continued to make occasional payments to GCS. In 2021 instead of making financial payments CBH donated for GCS’s use or re-sale the tiling machines (value $40,000) which had been used during the stadium construction and the car which CBH had been using in Rwanda.
In accordance with the MoU signed between CBH and RCA for the governance of GCS, CBH 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 2021. However, without a full-time employed representative in Rwanda, CBH agreed that the acting Chair of GCS should temporarily come from the Rwanda Cricket Association.
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 2021, 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 close relations with CBH’s Country Manager (also a member of the EC) and the CBH Chair throughout 2021. CBH’s Treasurer, Graeme Loten, managed the online banking of GCS.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Structure, Governance & Management continued
Related Parties continued
Government of Rwanda, Ministry of Sports
The Charity is grateful to the Government of Rwanda, and particularly the Ministry of Sport (MINISPORT - 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.
A 3-year tripartite agreement between MINISPORT, CBH and RCA had been signed in November 2020, giving official Rwandan Government approval of CBH’s activities in Rwanda and setting them in the context of the partnership with RCA and the Government’s own policies with regard to sport and especially cricket.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Activities and Achievements
Covid Pandemic
As was the case for most of 2020, the covid pandemic dominated the activities of CBH during 2021, greatly restricted both its fund-raising in the UK and its activities on the ground in Rwanda. For many months the Stadium was effectively made out of bounds by Rwandan authorities, league cricket was interrupted, schools were either closed or operated under strict constraints and it was not possible to carry out any permanent programme activities. Moreover, CBH was not able to host its usual range of fund-raising events in the UK, save for the carol service in December.
Programme Activities
Cricket Builds Hope’s first major programme activity was a women’s empowerment programme, funded by Comic Relief and the Scottish Government, in partnership with female leadership international NGO ‘Resonate’ which was implemented in 2018-2019. Although a draft programme for a replication of this women’s empowerment programme was prepared and shared with several potential donors during 2021, the covid pandemic meant that no donor organisation was found and no further programme activity was possible.
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, later spreading to the estates at Pfunda and Nyabihu. 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 which built on their long-standing sponsorship of the bars at Gahanga Cricket Stadium
Unfortunately, the covid pandemic and the consequent closure of schools throughout Rwanda meant that cricket coaching on school premises was limited. Nevertheless, coaches continued to operate in each of the three estates throughout 2021 liaising with schools, carrying out coaching - often outside of school time and sometimes even at the coach’s own home because of the covid regulations.
In 2020 a renewed schedule of payments to RCA for this programme had been agreed which allowed the programme to continue in all three estates until the end of January 2022. This end-date was later extended to October 2022 with the idea that
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Activities and Achievements continued
Programme Activities continued
the programme would terminate then with a Yorkshire Tea Cup in which teams of both boys and girls from each estate area would travel to Kigali to celebrate the programme by taking part in a cricket festival at GCS.
Fundraising/Partnerships
Unfortunately, the covid pandemic meant that no major fund-raising events for CBH were possible in the UK during 2021 apart from the annual carol service held in London in December where proceeds were shared between CBH and Surrey County Cricket Club Foundation and which netted circa £3,000 for CBH.
Plans for Future Period
Although most programme activities in Rwanda and fund-raising activities in the UK had been cancelled or postponed during 2021, Trustees drew up plans towards the end of the year for a major expansion of activities, prompted principally by their decision to take on a full-time Director as an employee. Without such an employee, expansion of activities would have relied heavily on individual Trustees becoming too involved in the planning and day to day delivery of the planned activities to make them feasible. An attempt to recruit in Rwanda having failed to produce an acceptable candidate, Trustees decided by the end of 2021 to look for a candidate from the UK.
Financial Review
The Charity’s total income for the 12 months ended 31 December 2021 was £63,705 (2020: £133,486). Of this figure £15,000 was received from TLG hedge fund to be allocated to a sexual health programme along with £2,500 from St James Partnership. Dragon School also contributed £2,500 which was designed to be spent on a cricket camp for Rwandan children. Other amounts were received from regular donors.
Monthly payments of £1,250 were also deposited in CBH’s account by the company Ark Build to be transferred to GCS to cover the majority of its monthly salaries.
The Charity’s total expenditure for the year ended 31 December 2021 was a modest £26,526 (2020: £65,999). This was almost exclusively used for local payments to CBH’s representatives in Rwanda, as well as its regular payments to the RCA for the
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Financial Review continued
Yorkshire Tea programme and the transfer of Ark Build’s donations to GCS (see above).
At year end CBH had £97,392 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. About one third of this was earmarked for CBH’s commitments to programme activities.
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. Generally, Rwanda managed the covid pandemic well with good adherence to its lockdown rules, thorough health monitoring and a successful vaccination campaign.
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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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Ø Annual cash flow forecasts in January each year.
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Ø 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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Ø 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. CBH tries to maintain funds in its UK account for 3-6 months of expenditure which, without permanent employees in 2021, were not significant. 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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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Financial Review continued
Risk management continued
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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 2021 the Charity did not incur any expenditure any foreign currency other than pounds sterling or Rwandan francs. Going forwards this is unlikely to change.
Statement of Trustees’ Responsibilities
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.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Statement of Trustees’ Responsibilities continued
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 Chair and Trustee, 29[th] October 2022
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
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 2021, which are set out on pages 16 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.
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.
Elizabeth Conder FCA
The Institute of Chartered Accountants in England & Wales 18 Oxford Road, London, SW15 2LF 30 October 2022
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
| Statement of financial activities | Statement of financial activities | Statement of financial activities | Statement of financial activities | |||||
|---|---|---|---|---|---|---|---|---|
| For theyear ended 31 December 2021 | ||||||||
| Year e | nded 31 December 2021 | Year ended 31 December 2020 | ||||||
| Notes | Unrestricted Funds |
Restricted Funds |
Total | Unrestricted Funds |
Restricted Funds |
Total | ||
| £ | £ | £ | £ | £ | £ | |||
| Income | ||||||||
| Donations and legacies | 15,090 | 15,090 | 23,115 | 23,115 | ||||
| Grants | 10,000 | 20,000 | 30,000 | 45,000 | 38,435 | 83,435 | ||
| Charitable Activities | 0 | 11,904 | 11,904 | |||||
| Other tradingactivities | 3,607 | 3,607 | 0 | |||||
| Other income | 15,000 | 15,000 | 15,008 | 15,008 | ||||
| Investment income | 8 | 8 | 24 | 24 | ||||
| Total income | 28,705 | 35,000 | 63,705 | 80,043 | 53,443 | 133,486 | ||
| Expenditure | ||||||||
| Raisingfunds | 1,454 | 1,454 | 1,150 | 1,150 | ||||
| Charitable activities | 7,050 | 17,950 | 25,000 | 21,939 | 42,850 | 64,789 | ||
| Depreciation | 0 | 0 | ||||||
| Interest and other finance costs | 72 | 72 | 60 | 60 | ||||
| Total expenditure | 8,576 | 17,950 | 26,526 | 23,149 | 42,850 | 65,999 | ||
| Surplus /(Deficit) before othergains and losses | 20,129 | 17,050 | 37,179 | 56,894 | 10,593 | 67,487 | ||
| Gain on disposal of fixed assets | ||||||||
| Gain on investments | ||||||||
| Surplus before tax | 20,129 | 17,050 | 37,179 | 56,894 | 10,593 | 67,487 | ||
| Taxation | ||||||||
| Total comprehensive income and expenditure for theyear | 20,129 | 17,050 | 37,179 | 56,894 | 10,593 | 67,487 | ||
| Represented by: | ||||||||
| Restricted income and expenditure for theyear | 17,050 | 17,050 | 10,593 | 10,593 | ||||
| Unrestricted income and expenditure for theyear | 20,129 | 20,129 | 56,894 | 56,894 | ||||
| 20,129 | 17,050 | 37,179 | 56,894 | 10,593 | 67,487 | |||
| All(deficit)/ surplus for theyear is attributable to the Charity | ||||||||
| All income and expenditure for theyear is attributable to the Charity | ||||||||
| All items of income and expenditure relate to continuingactivities |
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
| Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For theyear ended 31 December 2021 | |||||||||||||
| At 31 December 2021 |
At 31 December 2020 |
||||||||||||
| Notes | |||||||||||||
| £ | £ | ||||||||||||
| Non-current assets | |||||||||||||
| Intangible assets | 0 | 0 | |||||||||||
| Fixed assets | |||||||||||||
| Non-current investments | |||||||||||||
| Debtors: amounts fallingdue after more than oneyear | - | - | |||||||||||
| 0 | 0 | ||||||||||||
| Current assets | |||||||||||||
| Stock | |||||||||||||
| Trade and other receivables | 1,713 | ||||||||||||
| Cash and cash equivalents | 97,392 | 58,500 | |||||||||||
| 97,392 | 60,213 | ||||||||||||
| Less: Creditors: amounts falling | |||||||||||||
| due within oneyear | |||||||||||||
| Net current assets | 97,392 | 60,213 | |||||||||||
| Total assets less current liabilities | 97,392 | 60,213 | |||||||||||
| Creditors: amounts fallingdue after more than oneyear | |||||||||||||
| Provisions | |||||||||||||
| Other provisions | |||||||||||||
| Total net assets | 97,392 | 60,213 | |||||||||||
| Restricted reserves | |||||||||||||
| Income and expenditure reserve - restricted reserve | 31,798 | 14,748 | |||||||||||
| Unrestricted reserves | |||||||||||||
| Income and expenditure reserve - unrestricted | 65,594 | 45,465 | |||||||||||
| Total reserves | 97,392 | 60,213 | |||||||||||
| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
|||||||||||||
| The notes onpages 19 to 21 formpart of these financial statements | |||||||||||||
| The financial statements were approved by the Trustees on 18 January 2022 and were signed on its behalf on that date by: |
Richard Nicoll Date: 29th October 2022 Graeme Loten (Treasurer) Date: 29th October 2022
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Notes to the Financial Statements for the year ending 31 December 2021
Note 1. Accounting Policies
Basis of preparation
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.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Notes to the Financial Statements for the year ending 31 December 2021
Note 1. Accounting Policies continued
Share capital
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.
Basis of consolidation & accounting period
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.
These summary consolidated financial statements reflect all transactions for the 12month period ending 31 December 2021.
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.
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Cricket Builds Hope Trustees’ report and financial statements For year ended 31 December 2021
Notes to the Financial Statements for the year ending 31 December 2021
4 – Trustees Remuneration
The payments to Trustees during the year was £0 (2020 - £0)
| 5 Unrestricted Funds Cricket Builds Hope Cricket Builds Hope 6 Restricted Funds Cricket Builds Hope Cricket Builds Hope |
Balance at 1 January 2020 Income Expenditure Balance 31 December 2020 (11,429) 80,043 (23,149) 45,465 Balance at 1 January 2021 Income Expenditure Balance 31 December 2021 45,465 28,705 (8,576) 65,594 Balance at 1 January 2020 Income Expenditure Balance 31 December 2020 4,155 53,443 (42,850) 14,748 Balance at 1 January 2021 Income Expenditure Balance 31 December 2021 14,748 35,000 (17,950) 31,798 |
|---|---|
7. Loans Payable
The charity had an interest free loan with balance outstanding of £20,000 at 1 January 2020. This loan was repaid in full in July 2020.
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