2023-10-31-accounts - Mayfield Cricket Club

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Mayfield Cricket Club

Trustees' report and unaudited financial statements

For the year ended 31 October 2023

Company Number CE015030 Registered Charity Number 1179774

Mayfield Cricket Club

Report and financial statements for the period ended 31 October 2023

Contents

Page:

2 Trustees’ report
5 Independent examiner’s report
6 Income & Expenditure Report
7 Balance Sheet
8 Notes forming part of the financial statements

Trustees

Carl Shankland (Chairman) Bryan Blundell (President) Martin Johnston Andrew Parker

Registered address

Wellbrook Ground, Wellbrook Hill, Mayfield TN20 6EA

Registered Charity Number

1179774

Company Number

CE015030

Independent examiner

Murray Legg FCA

Report of the trustees for the period ended 31 October 2023

Mayfield Cricket Club

The trustees present their report for the year ended 31 October 2023.

Objectives and activities

Mayfield Cricket Club is a registered charity and cricket club running a number of youth and adult cricket teams at all ability levels for both males and females and has in excess of 100 members. Its main charitable purpose is to provide cricket facilities for people living in the Mayfield area of East Sussex. Through its wholly owned subsidiary, Wellbrook Social Club Limited, it also offers its venue for community events.

The main objective of the charity is the promotion of community participation in healthy recreation by the provision of facilities for playing cricket. Other objectives include the improvement of playing facilities for all members and the continuing development of colts and women’s cricket.

Management and governance arrangements

The charity is managed by a Board of trustees in accordance with the constitution last amended on 23 February 2018. The trustees have complied with their duty to have due regard to the guidance on public benefit published by the charity commission in exercising their powers or duties. The constitution requires a minimum of three trustees with a maximum of twelve. The following trustee changes were approved by the members at the Annual General Meeting on 01 February 2024:

Andrew Watson resigned as a trustee; Martin Johnston and Andrew Parker stepped down and were re-elected as trustees.

Achievements and performance

The playing season and year itself presented a variety of opportunities, challenges and change and will be viewed as the early steps towards a transitional period for the club. The 1st XI enjoyed some highlights but struggled for consistency, resulting in relegation from the top-tier Sussex Premier League. While the 2nd XI retained their divisional status with a solid season, the 3rd XI drew plaudits for a strong and sustained campaign resulting in promotion to Div. 7 East. A consequence of the club’s promotion to the Sussex Premier League was ineligibility for the National Village Knockout Cup in 2023.

The Colts section enjoyed a strong season with an engaged audience of young players and parents making solid contributions to the club’s finances on Fridays throughout the summer. A decent crop of young players are now establishing their places in the senior teams and it is a priority of the club to continue to engage, develop and retain emerging talent from Mayfield and the surrounding areas.

Mayfield Cricket Club Report of the trustees for the period ended 31 October 2023

Financial review

The aim of the trustees is to ensure that the charity’s operating costs and donations made are covered by income and to continue to generate funds that can be invested in future projects and development of the club’s facilities.

Income

Many areas of normal income have been flat:

Membership income (subscriptions and match fees) rose as a result of increased subscription rates. The number of playing members was slightly down on the previous year;
Grants and donations remained low compared to previous years; a gift aid claim was made in the period, which partly compensated for the low level of donations;
Club sponsorship and ground advertising recovered;

Expenditure

Total expenditure was significantly up:

The new high tariffs for gas & electricity had a significant impact and will continue to do so into next year before the opportunity arises to negotiate new terms.
Coaching costs were greatly increased with a view to supporting colts coaching in particular;
Ground maintenance spending was well down as the Five Ashes ground improvement was carried out in the previous year.
Much lower water consumption (and cost) was required to irrigate the outfield;
Repairs & servicing of ground equipment were substantially reduced;

Balance Sheet and cash flow

Cash flow has been weaker because of the high level of expenditure. About £10k was spent on the refurbishment of the cricket nets at the Wellbrook Ground. There was a full year of repayments on the bounce-back loan after the end of the payment holiday during Covid.

Mayfield Cricket Club

Report of the trustees for

the period ended 31 October 2023

Reserves policy

The trustees maintain cash balances sufficient to ensure that cash flows are covered for a rolling 12 month period. The closing cash balance is £1,677 (2022: £9,393). The trustees expect the reserves to be used for future capital expenditure and other projects in line with the charity’s objectives.

Trustees

The trustees during the year and to the date of approval of the financial statements were:

Carl Shankland (Chairman) – appointed 23 February 2023 Andrew Watson – resigned 01 February 2024 Bryan Blundell Martin Johnston Douglas Shankland – resigned 23 February 2023 Andrew Parker

Independent Examiner

Murray Legg F.C.A. was re-appointed as the charity’s independent examiner during the year and has expressed his willingness to continue in that capacity.

Approval for and on behalf of the trustees:

Martin Johnston Date: 28 August 2024

Mayfield Cricket Club

Independent examiner's report to the members of Mayfield Cricket Club (“the Club”)

I report on the accounts of the Club for the year ended 31 October 2023. The accounts comprise the attached Statement of accounting policies, Income & Expenditure Report and Balance Sheet.

Respective responsibilities of Club officers and examiner

The Club’s officers are responsible for the preparation of the accounts. The Club’s constitution stipulates that an independent examination is needed.

It is my responsibility:

to examine the accounts of the Club;
to confirm to the members that the accounts are, in all material respects, in accordance with the accounting records; and
to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination includes a review of the accounting records kept by the Club and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Club’s officers concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

to keep proper accounting records; and
to prepare accounts which accord with the accounting records

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Murray Legg F.C.A. Date: 28 August 2024

Income & Expenditure Report for the year ended 31 October 2023

Mayfield Cricket Club

Note Income Grants and donations Fund raising events and Sponsorship Membership fees and other Member Income Total income Expenditure Ground preparation Equipment Cricket expenses Coaching costs and winter nets Facility costs Bank charges Insurance Interest expense Total expenditure Net income / (expenditure) Depreciation 2 Net income / (deficit) for the period	2023 2022 £ £ 24,905 28,135 5,410 98 18,129 15,920
	48,444 44,153 (5,518) (12,995) (3,276) (7,612) (9,828) (3,012) (12,270) (3,824) (18,990) (13,836) (1,400) (1,467) (2,265) (2,318) (250) (322)
	(53,798) (45,386) (5,353) (1,233) (19,472) (14,410)
	(24,825) (15,643)

The notes on pages 8 to 12 form part of these financial statements.

Mayfield Cricket Club

Balance Sheet as at 31 October 2023

2023 £ 441,504 100	2023 £ 441,604 11,964 (31,000)	2022 £ 450,947 100	2022 £ 451,047 31,102 (31,812)
10,287 1,677		21,709 9,393
(28,120) (2,880)		(30,390) (1,422)
(8,214) (51,756)		(11,158) (51,756)
	(19,036) (59,970)		(710) (62,914)

	362,598		387,423

	362,598		387,423

The notes on pages 8 to 12 form part of these financial statements.

Mayfield Cricket Club Notes forming part of the financial statements For the year ended 31 October 2023

1. Statement of accounting policies

The financial statements of the charitable incorporated organisation, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ’Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(Effective 1 January 2015)’, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Effective 1 January 2015)’, Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of preparation

The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant information at the date of releasing this report, including cash flows since the balance sheet date and expected for the remainder of the financial year in making their assessment.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charitable objectives of the club. Restricted funds are subject to restrictions on their expenditure imposed by the donor or at the discretion of the trustees.

Income and expenditure recognition

Income and expenditure is generally recognised in the Club’s books on an accruals basis. The following items are recognised on a cash received basis:

donations;
gift aid on donations;

Taxation

As a Registered Charity, the Club benefits from certain tax exemptions regarding its charitable activities including that which relates to Corporation Tax on profits. No provision for Corporation Tax is made.

Mayfield Cricket Club Notes forming part of the financial statements For the year ended 31 October 2023

Investments

Investments are recognised at cost net of any provision for impairment.

Depreciation

Depreciation is charged on the following fixed assets, starting on the date the relevant asset came into use, at the following rates:

Cricket Ground 0%;
Buildings – at a straight-line rate of 2% p.a.;
Cricket equipment - at a straight-line rate of 25% p.a.;
All other fixed assets – at a straight-line rate of 12.5% p.a.

Expenditure on the potential new ground project is underwritten and funded by 2 members of the club on the basis that the club will repay the funding received if and only if surplus funds are generated from the project. It is therefore not depreciated.

Mayfield Cricket Club Notes forming part of the financial statements For the year ended 31 October 2023

2. Fixed Assets – cricket facilities

COST 01 November 2022 additions disposals 31 October 2023 DEPRECIATION 01 November 2022 charge for the period 31 October 2023 NET BOOK VALUE 31 October 2023 01 November 2022	Cricket Cricket Ground Buildings Equipment Other Total £ £ £ £ £ 91,099 434,968 147,160 3,020 676,247 0 0 10,053 0 10,053
	91,099 434,968 157,213 3,020 686,300 0 0 0 0 0
	91,099 434,968 157,213 3,020 686,300
	0 (83,567) (139,027) (2,706) (225,300) 0 (8,699) (10,619) (177) (19,496)
	0 (92,266) (149,646) (2,883) (244,796)
	91,099 342,702 7,567 137 441,504 91,099 351,401 8,133 314 450,947

Depreciation is charged in accordance with the accounting policy detailed in Note 1.

Cricket Ground includes £27,405 of expenditure in respect of a new cricket ground project, which may or may not proceed to completion. This expenditure is funded by interest-free loans included in, and subject to the terms disclosed in, note 6 (c) below.

3. Fixed Asset investment

01 November 2022 Investment in Wellbrook Social Club Limited 31 October 2023	£ 100 -
	100

The investment represents 100% of the equity share capital of Wellbrook Social Club Limited, which operates bar and catering facilities at the Wellbrook Ground and is a company incorporated in England and Wales.

Mayfield Cricket Club Notes forming part of the financial statements For the year ended 31 October 2023

Debtors : amounts falling due within one year

Amount due from subsidiary undertaking Other debtors & prepayments	2023 2022 £ £ 6,254 20,947 4,033 762
	10,287 21,709

5. Creditors : amounts falling due within one year

Trade creditors Accrued costs Other creditors	2023 2022 £ £ 1,019 7,387 3,790 1,422 26,191 23,003
	31,000 31,812

Mayfield Cricket Club Notes forming part of the financial statements For the year ended 31 October 2023

Long-term liabilities : amounts falling due after more than one year

Bank loan (note a. below) Interest-free loans from related parties (note b. below)	2023 2022 £ £ 8,214 11,158 51,756 51,756
	59,970 62,914

Notes

a. Bounce-back loan: the £15,000 loan from NatWest bank was drawn in June 2020 in order to safeguard the club’s solvency during the Covid pandemic. It is guaranteed by H.M. Government. It was interest and repayment free for the first 12 months. It is now being repaid by 60 monthly instalments of £266.21, which started on 3 July 2021.
b. Other loans: these are interest-free loans. Repayment of these loans is contingent upon sufficient funds being available from successful completion of the new ground project. If the project does not proceed or does not provide sufficient capital, the loans will be waived by the lenders.

7. Trustees’ Remuneration

No trustee received any remuneration in respect of their services during the period.