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2020-10-31-accounts

Company Registration No. 09592885

SUSSEX CRICKET FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

SUSSEX CRICKET FOUNDATION

REFERENCE AND ADMINISTRATION

Charity Name Sussex Cricket Foundation
(A company limited by guarantee)
Company Number 09592885 (England and Wales)
Charity Number 1162649
Registered Office County Ground
Eaton Road
Hove
BN3 3AN
Directors / Trustees Daniel Oliver
Nigel Russell
John Abbott
David Dumigan
Gary Stanley
Andrew Dalby-Welsh
Ishtiaq Jalal
Katherine Cooper
Elizabeth Ager
Jonathan Filby
John Barclay
Abi Sakande
Company Secretary Nigel Russell
Independent Auditor Mazars LLP
2ndFloor, 6 Sutton Plaza
Sutton Court Road
Sutton
Surrey
SM1 4FS

2

SUSSEX CRICKET FOUNDATION

S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

I am pleased to present this fifth annual report of the Sussex Cricket Foundation.

After three successful years in the role of Director of Community Cricket, a post which includes executive responsibility for the day to day running of the Foundation, Chris Coleman left us to join Surrey Cricket Board in April. After a successful interim period, we were delighted to appoint Gary Wallis-Tayler as his successor. As can be seen in the report on Achievements and Objectives, the Foundation has continued to change lives through cricket by using the game of cricket and the Sussex Cricket brand to deliver accessible and enjoyable opportunities that grow the sport, tackle inequalities, improve health and wellbeing and enable people to fulfil their potential. My sincere thanks go to both Chris Coleman for his excellent work for Sussex Cricket and to Gary Wallis-Tayler and his team for all that they have achieved this year.

It is pleasing to report that despite the impact of the Covid 19 crisis we have continued to consolidate our financial model which enables us to deliver key priorities with a strong focus on increasing that we have been able to set a budget for the next year which will continue the return to prudent levels of reserves by the end of 2024. I am particularly grateful to Alan Bradshaw, Finance Director and David Dumigan, the Finance Trustee, who have both contributed significant time and expertise to ensure these successful financial results. I must also again pay tribute to Nigel Russell, our honorary secretary who does so much in support of our objects.

passion for cricket in Sussex and despite the loss of the first half of the season due to restrictions arising from the pandemic we can again report this year, both a growth in participation by men and women in cricket and a growth in the number of cricket clubs in the county with five new clubs joining the League for the 2021 season. Our annual player survey continues to provide the data to enable us to ensure that the League provides the type of cricket that players want to play at the times and this year led directly to the successful inauguration of the teams, with a very successful Finals Day being held at Horsham Cricket Club. It will return in 2021.

We have had another successful year of fundraising with over £200,000 raised for the Foundation through a variety of methods including the SCF Vice Presidents who each make annual charitable donations of at least £1,000 and through the Sussex Cricket Christmas Lunch with Kevin Keegan in November 2019, which raised over £50,000 for the Foundation. We hope that event will return in December 2021.

Sporting Memories, the programme in which we work with older people to address loneliness and dementia t issues in the county.

Jon Filby Chair

3

SUSSEX CRICKET FOUNDATION

REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

The Trustees present their annual report together with the financial statements of the Charity for the year ending 31 October 2020 and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended practice applicable to charities preparing their accounts in accordance with the Finance Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Structure, Governance and Management

Trustees to

meet its charitable Objects. The SCF Board of Trustees meets routinely at least once a quarter. A number of committees and working groups have been set up to monitor, challenge, assist and advise the work of the executive team. These are:

Structural development within Sussex Cricket has required that these committees and their Terms of Reference should be reviewed at least annually. A designated Trustee has been appointed to chair each of the above, together with one who leads on communications. Additionally, one of the Trustees has assumed the responsibility for advising the Trustees on financial matters (David Dumigan) and another Trustee acts as the Company Secretary (Nigel Russell), with specific responsibilities on compliance, charity and company law. The day-to-day operation of the Foundation is carried out by Territory Managers and officers, under the supervision of the Director of Community Cricket who reports .

The Trustees review not only the application of statutory compliance and best practice, but also the major risks to which the Foundation is exposed and, in concert with SCL, they put in place safeguards and policies to mitigate those risks. The Trustees have no financial interest in the surplus or assets of the Foundation and receive no remuneration from it. T

and the senior management team comprise the key management personnel of the charity, in charge of directing, controlling, running and operating the Foundation on a day-to-day basis. All Directors give their time freely and no Director received remuneration in the year. Details of other key management 9.

On appointment, Trustees are provided with a comprehensive information pack and guidelines on trusteeship. Induction sessions are arranged to familiarise new Trustees operations and practices.

The members of the SCF Board, during the reporting period, who are Trustees of the Charity's activities and Directors of the Company for the purposes of the Companies Act 2006, are as follows:

John Abbott (Retired 31stMarch 2020) Jon Filby (Chair)
Elizabeth Ager Ishtiaq Jalal
John Barclay (Appointed 1stApril 2020) Daniel Oliver (Ex-Officio SCL Board of Directors)
Katherine Cooper Nigel Russell (Company Secretary)
Andrew Dalby-Welsh Gary Stanley (Ex-Officio SCL Board of Directors)
David Dumigan (Finance Trustee) Abi Sakande (Appointed 1stJanuary 2021)

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SUSSEX CRICKET FOUNDATION

REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

Sussex Cricket Foundation is a company limited by guarantee governed by its Memorandum and Articles of Association dated 15 May 2015. It is a registered as a charity with the Charity Commission.

Charitable Objects

The Objects for which the Foundation is established are for the public benefit through promoting community participation in healthy recreation; providing facilities for sport and recreation for all to enhance their quality of life; and advancing the education of all.

Activities and Objectives

The Charity fulfils its charitable Objects through the operations of the Sussex Cricket Foundation.

The reporting period is the fifth during that period:

  1. To provide enjoyable, structured and competitive playing opportunities within recreational cricket in Sussex

  2. To create inclusive and accessible opportunities for all people across Sussex regardless of ability, age, gender, ethnic origin or sexual orientation.

  3. To use the power of cricket as a vehicle for achieving social good.

The Foundation achieves these aims and objectives by reaching local communities to harness the charitable, health & wellbeing and individual benefits that cricket can offer.

Achievements and Performance

Due to the COVID pandemic, 2020 was a challenging but equally rewarding year for the Sussex Cricket Foundation.

In March 2020, the Country went into a national lockdown, which saw our physical delivery suspended our Chance to Shine and Lord Taverners delivery for the 2019-20 academic year.

At the start of the pandemic, we worked towards the following objectives with support from the ECB Protect, Prepare and Play.

Our first objective was to ensure we protected our staff, our organisation, and our network. We managed to successfully protect all our 183 affiliated league and non-league clubs by regular communications, club webinars using new communication platforms such as Zoom and personal phone calls to every club from a team of volunteers, to ensure they were unaffected by the pandemic. To help clubs survive the crisis and to help them financially the Foundation helped secure over £600k of grant funding obtained through the Government, Sport England, and the ECB, this went along way to protecting the long-term future of our network.

We were eventually given the go ahead to resume cricketing activity in July and we were indebted to several key people who helped prepare for the safe return of recreational cricket across the County. Thanks to the efforts of the 1[st] Central Sussex Cricket League Committee, the Sussex Slam, and the Sussex Junior Cricket Festival we managed to ensure organised cricketing opportunities were made available for men, women and junior boys & girls during what would be a shortened season.

5

SUSSEX CRICKET FOUNDATION

REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

The playing opportunities that were made available to all was quite incredible and something that we as an organisation were extremely proud of. The main success stories of the summer were:

Despite the ongoing challenges faced by Coronavirus we still managed to develop our communitybased initiatives including new projects organised by a Covid-19 working group led by Club President, Sir Rod Aldridge. This included:

The successes of this summer would not have happened without the work of volunteers within our club network. Volunteers in sport are hard to come by and as an organisation we felt it was important to recognise these people who give up their own time to ensure cricket runs within their club/community. We teamed up with 1[st] Central to launch our SCF Covid Heroes Awards which saw 9 categories created. Over 50 nominations were received across the 9 categories and online voting was used to determine the 9 winners which saw over 6000 online votes. We are planning to recognise all nominees with an event at the 1[st] Central County Ground during 2021.

Towards the end of 2020 the Sussex Cricket Foundation went through some small structural changes following the departure of Chris Coleman as Director of Community Cricket who left the organisation to join Surrey in June. Gary Wallis-Tayler took over on an interim basis and was appointed permanently in Oc

Hamish Russell looking after West and East respectively.

With funding confirmed from organisations such as the ECB, Chance to Shine and Lord Taverners Foundation staff slowly started to return to work so delivery could resume in schools and the community from September. Unfortunately, by November the Country was once again placed in a national lockdown which saw all of our programmes placed on hold and staff placed on furlough.

Despite not being able to physically deliver sessions to children we launched our SCF Virtual Schools Cup Competition. The competition is made up of 10 weekly skill challenges created by our coaches with schools/children recording their scores online weekly. Weeks 1-5 ran before Christmas with weeks 6 10 running in the New Year. Weeks 1-5 saw 26 schools take part with over 5000 entries received which exceeded all our expectations.

6

REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

SUSSEX CRICKET FOUNDATION

As we enter to 2021 there will continue to be challenges ahead, especially in the early part of the year. However, we remain fully confident and are excited by the prospect of an exciting year for cricket in the County across all levels of the game.

Public Benefit

The Foundation exists solely for the Public Benefit. Its Objects and its activities deliver that benefit through its many programmes. The Trustees understand the requirement to observe and adhere to the Foundation delivers this satisfactorily.

Fundraising

As reported below under Financial Review , the impact of Covid-19 has severely restricted fundraising activities in this year. The Foundation has established a Fundraising Committee, chaired by a Trustee and manned by volunteers with significant assistance from the Executive. Funds raised from commercial partnerships, donations, grants and events allow the Foundation to realise its objects and set operational targets. The Committee operates through a set of Terms of Reference approved and adopted by the Trustees. Although the Committee has investigated a proposal to hire a professional fundraiser this idea was not and has not since been introduced. The Trustees have considered the document "Charity Fundraising: A Guide to Trustee Duties (CC20)" and the Committee has considered the Institute o Practical Guide for Trustees. At each Chair presents a report on fundraising activities To date no complaints have been received about the Foundation's fundraising activities. Approaches for financial assistance to individuals, companies and organisations in support of the Foundation are made via open advertising or on personal recommendation; bucket collections are passively conducted.

Financial Review

This is the fifth year of operation of SCF which, as a charity, plans to breakeven over the medium term.

The financial statements reveal a surplus for the year of £7,287 (2018/19: £64,218) on income of £810,534 (2018/19: £1,015,386) and ended the year with net assets of £154,985 (2018/19: £147,698). The financial position represents a strong and stable position allowing the Trustees to deliver on the charitable objectives.

Income has, perhaps not surprisingly, decreased by £205k (20%) on the previous year principally due the significant reduction in donations following the almost complete lack of fundraising events together with funds deferred, due to the pandemic. However, the Foundation is especially grateful to those members who generously donated their membership subscription to SCF which is thankfully received and will be faithfully applied.

Income also includes funds received from central government through the Coronavirus Job Retention Scheme whilst the majority of SCF staff were temporarily released on furlough.

Expenditure decreased by £148k (16%) on the previous year, broadly in line with the reduced level of income.

Principal Funding Sources

ECB to organise and manage national initiatives within Sussex which were significantly impacted by the pandemic.

significant level of income from donors, benefactors and the running of events, which allows the Trustees to direct resources to further the objectives of the Charity. As this was not a normal year the activities of the Fundraising Committee were held in abeyance but, with an optimistic eye on future activities in 2021, it will return with renewed vigour.

7

REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

SUSSEX CRICKET FOUNDATION

Fixed Assets and Capital Investment

The Foundation holds no Fixed Assets and does not, at present, invest in major capital projects.

Reserves Policy

The Trustees have earmarked sufficient cash resources that they feel is prudent to meet the dual needs of the working capital requirements and the mitigation of adverse risks as identified by the Risk Register.

the short term with no funds held for long-term investment.

Restricted Funds

Restricted Funds are those elements of the grants from the England & Wales Cricket Board, Chance2Shine and Lord Taverners where cash has been received in advance of the delivery of specific projects.

Investment Policy

There is no investment policy, as funds are required to meet working capital requirements. However,

Going Concern

The Trustees have put in place measures to give them confidence that the Charity is and remains a Going Concern. Governance processes are in place that includes the establishment of a Governance & Finance Committee that reports to the Board of Trustees that, each month, examines the detailed budgets and forecasts and also assesses the Risk Register with the senior management team. Whilst the Coronavirus pandemic has severely curtailed the activities of the charity the financial outlook is robust through prudent limiting of expenditure to the resources received.

BREXIT

As reported last year and reiterated this year, in the opinion of the Trustees the impact of BREXIT on Sussex Cricket Foundation will be limited as Sussex Cricket Foundation does not engage in activity within the European Union. The Trustees will continue to monitor the situation to ensure that Sussex Cricket Foundation is well placed to adapt to any BREXIT impact.

Statement of disclosure to auditor

So far as the Trustees are aware, there is no relevant audit information of which the auditor is unaware.

The Trustees have taken all necessary steps to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

By order of the Trustees 1[st] Central County Ground NF Russell Eaton Road Company Secretary & Trustee HOVE 28 January 2021 East Sussex BN3 3AN

8

SUSSEX CRICKET FOUNDATION

FOR THE YEAR ENDED 31 OCTOBER 2020

The Trustees (who are also directors of Sussex Cricket Foundation for the purposes of company law) are responsible for preparing the Annual 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 year that give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

9

SUSSEX CRICKET

FOUNDATION (CONTINUED)

Opinion

We have 31 October 2020 which comprise of the Statement of Financial Activities, the Balance Sheet, the Statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Standard applicable in Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

10

INDEPENDENT AUDITOR�S REPORT TO THE TRUSTEES OF SUSSEX CRICKET FOUNDATION (CONTINUED)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors� Report included within the Trustees� Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees� responsibilities statement set out on page 9, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity�s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor�s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor�s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council�s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor�s report.

11

SUSSEX CRICKET

FOUNDATION (CONTINUED)

Use of the audit report

This report is made solely to the charitable company members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charit and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable as a body and the charitable companies trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Signed:

Nicola Wakefield

(Senior Statutory Auditor) for and on behalf of Mazars LLP Chartered Accountants and Statutory Auditor 2[nd] Floor, 6 Sutton Plaza Sutton Court Road Sutton Surrey SM1 4FS

Date:

12

SUSSEX CRICKET FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2020

Notes
Unrestricted
Funds
£
Restricted
Funds
£
Income:
Donations
4,6
38,093
-
Grants
6
240,138
418,143
Income from charitable activities:
Operation of Foundation activities
6
112,140
2,020
Total income
390,371
420,163
Expenditure on charitable activities:
Operation of Foundation activities
5,6,7
(253,543)
(549,704)
Total expenditure
(253,543)
(549,704)
Net income/(expenditure)
8
136,828
(129,541)
Transfers between funds
14
(29,440)
29,440
Net movement in funds
107,388
(100,101)
Reconciliation of funds:
Total Funds at 1 November 2019
13,859
133,839
Total Funds at 31 October 2020
14,15
121,247
33,738		 Total
Funds
2020
£
38,093
658,281
114,160
810,534
(803,247)
(803,247)
7,287
-
7,287
147,698
154,985		 Total
Funds
2019
£
242,369
651,287
121,730
1,015,386
(951,168)
(951,168)
64,218
-
64,218
83,480
147,698

The financial statements on pages 13 to 22 were approved by the Trustees and authorised for issue on 28 January 2021

13

SUSSEX CRICKET FOUNDATION BALANCE SHEET AS AT 31 OCTOBER 2020

SUSSEX CRICKET FOUNDATION
BALANCE SHEET
AS AT 31 OCTOBER 2020		 Company Number
09592885
2020
£
2019
£
13,277
-
81,590
71,091
261,363
214,935
356,230
286,026
(201,245)
(138,328)
154,985
147,698
154,985
147,698
121,247
13,859
33,738
133,839
154,985
147,698
Notes
Current assets
Stock
11
Debtors
12
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Funds
Unrestricted funds
14,15
Restricted funds
14,15		 2020
£
13,277
81,590
261,363
356,230
(201,245)
154,985
154,985
121,247
33,738
154,985

The financial statements on pages 13 to 22 were approved by the Trustees and authorised for issue on 28 January 2021 and are signed on its behalf by:

J Filby Chair & Trustee

D Oliver Trustee

14

SUSSEX CRICKET FOUNDATION STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 OCTOBER 2020

Net income for reporting period (as per Statement of Financial
Activities)
Adjust for:
Increase in stock
Increase in debtors
Increase in creditors
Net cash generated by operating activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2020
£
7,287
(13,277)
(10,499)
62,917
39,141
46,428
46,428
214,935
261,363		 2019
£
64,218
-
(34,708)
65,897
31,189
95,407
95,407
119,528
214,935

15

SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

1. Accounting policies

Charity Information

The charity is a private company limited by guarantee, incorporated in England and Wales (company number: 09592885) and a registered charity in England and Wales (charity number: 1162649). The registered office is The County Ground, Eaton Road, Hove, East Sussex, BN3 3AN.

The charities principal activities and nature of its operations are disclosed in the Chair's report.

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Sussex 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 note(s).

Going Concern

The Trustees have put in place measures to give them confidence that the Charity is and remains a Going Concern. Governance process are in place that includes the establishment of a Finance and Governance Committee that reports to the Board of Trustees which, each month, examines the detailed budgets and medium-term forecasts. The committee have considered the impact of Covid and while its impact on delivery is significant it believes mitigating strategies put in place by management, such as furlough, negate this. The committee also examines the risk register with the senior management team.

Income recognition

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from other grants comprises grants, and is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the volunteers is not recognised and refer to the their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income received in advance of the provision of cricket is deferred until the criteria for income recognition are met.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

16

SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

1. Accounting policies (Continued)

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Expenditure on charitable activities includes the costs of performances, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Restricted funds are donations which the donor has specified are to be solely used for particular

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash 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.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments receivable are initially recognised at transaction value and subsequently measured at their settlement value.

Pensions

The charity operates a defined contribution scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

Taxation

The Foundation is a registered charitable company and as such its income and gains falling within Sections 471 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent that they are applied to its charitable objectives.

Termination payment

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

17

SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

2. Management estimates and judgements

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There were no other specific judgements, estimates and assumptions that were critical to the preparation of these financial statements.

3. Legal status of the Trust

The Foundation is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 for the sole member, Sussex Cricket Limited.

4. Income from donations

Income from donations
Donations		 2020
£
38,093
38,093		 2019
£
242,369
242,369

The income from donations was £38,093 (2019: £242,369) all of which was unrestricted. The club is grateful for donations from the Sussex Cricket Club Members and for a Legacy of £150,000 received in 2019. All remaining donations were gratefully received and were individually under £10,000.

5. Analysis of expenditure on charitable activities

Grants
Charitable activities
Support costs
Governance costs
Total		 Participation
costs
£
Foundation
central costs
£
Total
2020
£
Total
2019
£
505,445
-
505,445
599,570
2,188
43,416
45,604
36,271
-
243,010
243,010
309,080
-
9,188
9,188
6,247
507,633
295,614
803,247
951,168

The expenditure on Participation activities was £507,633 (2019: £599,682) and the expenditure on Central activity was £295,614 (2019: £351,486) of which £549,704 (2019: £599,682) is restricted and £253,543 (2019: £351,486) is unrestricted.

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SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

6. Summary analysis of Income/(expenditure) and related income for charitable activities

This table shows the cost of the three main charitable activities and the sources of income directly to support those activities.

Charitable Activity Costs
ECB Grants
Other Grants
Charitable Activities Income
Donations
Net Income/(expenditure)		 Participation
costs
£
Foundation
central costs
£
Total
2020
£
Total
2019
£
(507,633)
(295,614)
(803,247)
(951,168)
249,406
-
249,406
208,610
267,587
141,289
408,875
442,676
5,062
109,098
114,160
121,731
-
38,093
38,093
242,369
14,422
(7,135)
7,287
64,218

Other grants comprise of grants made by private individuals, companies and schemes for the activity of the Foundation.

The income from Participation activities was £522,055 (2019: £690,062) and the income from Central activity was £288,480 (2019: £325,324) of which £420,163 (2019: £690,062) is restricted and £390,371 (2019: 325,324) is unrestricted.

7. Analysis of governance and support costs

The Foundations support costs relates to costs of operating the Foundation, Blackstone, the Academy and seeking future opportunities thus this is allocated against upkeep of the Foundation as the Foundation does not consider it equitable to allocate these costs against the individual activity lines of the Foundation.

Governance costs comprise both the audit fees and fees paid to the auditors for non-audit services and thus are allocated against the upkeep of the Foundation following the same reasoning of the support costs.

**8. ** Net Income for the year 2020 2019
£ £
This is stated after charging:
Audit fees 6,700 6,300
Fees to the Auditor for Non-audit Services 1,000 775

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SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

9. Analysis of staff costs, staff numbers trustee remuneration and the cost of key management personnel

Salaries and wages
Social security costs
Pension costs		 2020
£
392,166
29,888
13,294
435,348		 2019
£
381,695
32,264
14,969
428,928

No employee received remuneration exceeding £60,000 during the period (2019: nil). Pension costs are allocated to activities in proportion to the related staffing costs incurred.

No Trustees received any remuneration or reimbursement of expenses (2019: nil).

The key management personnel of the charity are considered to be the Director of Community Cricket.

The total employee cost of key management personnel of the charity was £54,593 (2019: £56,492) and is set and benchmarked against current market expectations.

10. Staff numbers
Participation
Education
Central
11.
Stock
Stock
12.
Debtors
Sundry Debtors
Prepayments
13.
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
Amounts owed to parent entity		 2020
No.
21
-
3
24
2020
£

13,277
2020
£

61,568
20,022
81,590
2020
£
10,424
190,747
74
201,245		 2019
No.
20
-
3
23
2019
£
-

2019
£
47,316
23,775
71,091
2019
£
29,246
104,943
4,139
138,328

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SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

13. Creditors: amounts falling due within one year (continued)

Deferred Income

Grant income received has been deferred where it was received in advance of delivery of the projects. Movements during the year were as follows:

Balance brought forward at 1 November
Amounts received during the year
Amounts recognised as income during the year
Balance carried forward at 31 October		 2020
£
81,704
151,100
(81,704)
151,100		 2019
£
54,123
81,704
(54,123)
81,704

14. Analysis of movements in funds

Year ended 31 October 2020
UNRESTRICTED
Unrestricted Funds
RESTRICTED
Participation
Education
TOTAL FUNDS
Year ended 31 October 2019
UNRESTRICTED
Unrestricted Funds
RESTRICTED
Participation
Education
TOTAL FUNDS		 Balance at 1
November
2019
£
Income
£
Expenditure
£
Transfers
£
Balance at
31 October
2020
£
13,859
390,371
(253,543)
(29,440)
121,247
163,279
420,163
(549,704)
33,738
(29,440)
-
-
29,440
-
133,839
420,163
(549,704)
29,440
33,738
147,698
810,534
(803,247)
-
154,985
Balance at 1
November
2018
£
Income
£
Expenditure
£
Balance at
31 October
2019
£
40,021
325,324
(351,486)
13,859
72,899
690,062
(599,682)
163,279
(29,440)
-
-
(29,440)
43,459
690,062
(599,682)
133,839
83,480
1,015,386
(951,168)
147,698

the unrestricted income received and expenditure incurred in the period.

The restricted Funds are those elements of the grants from the England & Wales Cricket Board and other funders where income has been received in advance of the delivery of specific projects.

Education formally has run at a deficit. A decision was made to stop running the No Boundaries programme and unrestricted funds have been used to clear the deficit brought forward.

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SUSSEX CRICKET FOUNDATION NOTES TO THE AUDITED FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2020

15. Analysis of current assets/liabilities between funds

Unrestricted Restricted Total
Fund balances at 31 October 2020 are funds funds Funds
represented by: £ £ £
Cash at bank and in hand 76,525 184,838 261,363
Other net current assets / (liabilities) 44,722 (151,100) (106,378)
121,247 33,738 154,985
Unrestricted Restricted Total
Fund balances at 31 October 2019 are funds funds Funds
represented by: £ £ £
Cash at bank and in hand 81,096 133,839 214,935
Other net current liabilities - (67,237)
13,859 133,839 147,698
16. Financial Instruments 2020 2019
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost 61,568 47,316
Financial assets held at amortise cost are comprised of Sundry Debtors
only.
Carrying amount of financial liabilities
Measured at amortised cost 50,071 50,485
Financial liabilities held at amortise cost are comprised of trade
creditors and accruals.

17. Ultimate Parent Company

The charity is a 100% subsidiary of Sussex Cricket Limited, a company registered in England and Wales which itself is a club registered under the Co-operative and Community Benefit Societies Act 2014 and limited by shares. Sussex Cricket Limited is owned entirely by its members and thus it is not considered to have any ultimate controlling party. Sussex Cricket Limited Mutuals Public Register number is 30143, and its activities relate to the provision of cricket services. Consolidated financial statements for Sussex Cricket Limited which the Foundations results are included in can be obtained from their address which is the following; Sussex Cricket Limited, The County Ground, Eaton Road, Hove, BN3 3AN.

18. Related Party Transactions

During the year the Foundation made purchases from Sussex Cricket Limited of £537,351 (2019: £500,620). At the balance sheet date £74 was owed to Sussex Cricket Limited by Sussex Cricket Foundation (2019: £4,139) which is included in Creditors.

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