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REGISTERED COMPANY NUMBER: 07286116 (England and Wales)
REGISTERED CHARITY NUMBER: 1141876














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

VENTNOR CRICKET CLUB LIMITED

VENTNOR CRICKET CLUB LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Report of the Trustees 1 to 6

Independent Examiner's Report 7

Statement of Financial Activities 8

Balance Sheet 9 to 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13 to 19

VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the Charity is set out in the governing document:

The promotion of community participation in healthy recreation for the benefit of the inhabitants of the Isle of Wight, in particular by the provision of facilities for playing cricket.

Public benefit
In planning objectives and activities for the year the trustees have considered the Charity Commission's guidance on public benefit.


VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023


ACHIEVEMENT AND PERFORMANCE
Review of progress towards meeting the objective and a general report of Club Activities.

After such a promising year last year, like so many Clubs, the relief of making progress after Covid only to be hit by the escalating price of energy. The increase for all has been dramatic and has caused us to question all aspects of our expenditure. More detailed information will follow.

At the end of one of the executive meetings the comment was made that we did not really mention cricket. This year's report will start with cricket.

This year on the pitch has been good and in a normal week we have fielded three senior teams on a Saturday, friendly teams on a Sunday and Thursday. To do this has required a great deal of work from our captains. Once again, we had captains of great experience and thanks to Ben Woodhouse, Ben Davies, Mark Price, Kevin Cooper, and Kevin Attrill supported by Chair of Cricket Rob Snell and Fiona Newnham the Club saw increased numbers and improved standards. We must thank our main sponsor, Red Funnel, for their continued support of travel. Without this our involvement and our ability to play at the highest level of Club cricket in Hampshire would be very difficult. Many matches were sponsored, and this season has seen an increase in advertising boards around the ground. All this helps us meet our high cost of delivering top cricket to the Island.

Appendix 1 Honours Board.

We often note the standard of our players but this year we need to mention Fiona, who has made a major contribution to the Officials Association on the Island and in Hampshire. This year she has been a regular scorer for the Hampshire CCC in their matches. Note also must be made for the Coaching Award by Hampshire made to Dave Reynods for his contribution to coaching on the Island, in Hampshire and also his work on the National Association for many years. He is still as willing as ever to come and help with the All Stars (u9s) as he is to undertake some of the Island coaching courses.


There has been a real effort to make the transition from junior cricket to adult, the fifteen to eighteen age group, more positive. This age range often shows the greatest loss in players. Our Thursday fixture has helped, and Kevin makes sure that they all take part in the game. Many have also played in the adult league games including 1st X1 games.

Diny returned this year as our overseas player. It is the first time this has happened, and he was welcomed by all sides of the Club. Once again, he met all his commitments from the playing side to his work with coaching all through the Club. We hope this can be continued for a third year.

This ECB has started an initiative to encourage Disability Cricket. We have received an ECB grant to become a centre for Champion Club. The aim is to start a team based at Ventnor with another based at Newclose. The two teams will be able to play competitive matches. We are lucky to have Martin Blackman, an experienced coach and 1st XI player, to run the scheme.

Appendix 2. Senior Cricket

This year was important for the girls and women's teams. Last year as a new venture it went very well, and we could have seen second year dip but not at all. In fact, all the teams have developed, and we have seen teams at u11, u14 and a women's team. Ruth Noyes, who has led this initiative, now has a support group to help with the running of the teams.

Appendix 3. Girls & Women's Cricket


VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023


The Junior section has again been very strong with teams at u11, u13, u15 playing regular league, cup, and friendly matches. The u12 and u14s took part in the indoor league and cup competitions. The u15s had an excellent run in the National u15 competition, winning the Hampshire competition and only going out to a team that reached the final. After a few quiet years the u11s won the Island Cup competition.


The most disappointing aspect of our season was again the lack of the younger player. For the third year running our Primary Cricket Festival was cancelled. Although Chance to Shine took place in St Francis, Wroxall and Niton Primary Schools we have only had new players from Niton. A Summer Camp was held during the holidays which was enjoyed by those attending but numbers again were poor. We have kept schools up to date with our programmes with posters and notes for the schools' newsletters but with little response. We also have to be aware of the drop in numbers in our primary schools.

This problem will have to be seriously addressed as we have always had a junior membership of all ages giving us continuity in our teams. There are plans to encourage more of our players to undertake a coaching qualification.

Appendix 4 Junior Cricket. Please see Honour's Board


The executive Committee has met regularly during the year and has been faced with many financial problems. It is getting harder to find time to meet when everyone is available which has meant moving our start time to 8.00pm and asking members to find a substitute if they cannot make the meeting. With Rob Snell living on the mainland, we do have zoom facilities to keep him in touch.

Although we may not have mentioned cricket at some executive meetings, it is always at the heart of our thoughts. We have a ground and facilities which are as good as most clubs in the country. To keep these facilities open is a major headache. Some difficult decisions have had to be made and many more are in the pipeline.

To cope with these challenges, we need more volunteers to help in the planning process, develop fund raising ideas and especially in the more practical jobs. A start has been made to make a detailed five-year plan of the condition of the buildings, prioritising the most important tasks. We had a very generous sponsorship of two professional reports. Firstly, a full Health and Safety check covering the whole building. It now requires us to create a Risk Assessment /Health and Safety Policy for each individual area.

The second report was an assessment of the fabric of the buildings linked with a five-year plan for maintenance. A facilities group will be formed to help develop these results.

An internal budget report for 2024 was made thanks to our very active Finance Committee. Difficult decisions had to be made to prioritise the many repairs and general maintenance that are necessary.

A new gas boiler has been installed allowing us greater flexibility with our use of the heating. We have four major on-going costs. The outdoor staircase and balcony have been put out of use due to their dangerous condition. Much time has been spent on making sure we replace the stairs with something sustainable and in character. The decision has been made to replace the stairs with a similar wooden structure to be in keeping with the building.
Still not solved is our wastewater problem. Various ideas are being followed up but the cost of regular emptying is having a marked effect on the budget.

The Lodge has provided a regular income for the Club as a holiday let. We hope that we can turn this into a full yearly rental. There is a problem with the floor which requires attention. We need to take the opportunity to thank Alan Parker and a team of volunteers who have cleaned and prepared between visitors.


VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023


Lastly the increase in cost of energy has been enormous. It has hit us the same as many other organisations and people. Once again, we must thank Alan Parker for his negotiations to find the best deal on gas and electricity. We are still proceeding with our application for a grant from ECB for improvement in our lighting system, especially the upgrading to more efficient types of lighting.

One positive bonus has been that the IWCB has started to use our hall for more of its courses and coaching sessions. We have tried to upgrade our equipment to meet the needs of modern coaching. With this extra use we hope to make the hall become more financially viable.

Appendix 5 Finance

We have maintained our Club Mark accreditation since it first started, and we are still the only club on the Island to be accredited. The format for Club Mark has changed this year and we started the new system on January 1st 2024. After having Stuart Chatfield as our link with Club Mark support for many years we have a new IWCB CDM Nick Heelan who will take over the role. We would like to thank Stuart for all the help and support he has given the Club and extend our best wishes to Nick in his new role.

As has already been stated we have a desperate need for more volunteers to become involved in the Club. Some of our working groups have been less active this year and we need new faces to help keep the Club running. A start in this process began in January 2024 with the aim of involving more Club members when special meetings will be held to encourage support.

Appendix 6 Volunteers

We are a Club starting from U9s, through all the teams and our non-playing members. We rely on the support of many and without the volunteers giving up their time and often money we would not have been able to meet all the challenges we have faced this year. The coming year does not seem to be any easier and we hope to have their continued support.

To end on a happier note, 2025 will see the 175th anniversary of the Club. Plans are already being put in place to make it a special season. We are going to link the year with special events and projects to improve the Club. I hope you will help us go 'Towards 175'.

FINANCIAL REVIEW
Review of financial activities
Appendix 7: Financial Report 2022 To be presented at the AGM
We have continued to receive sponsorship from several sources with Red Funnel again being our major sponsor. Without the sponsorship of Red Funnel the cost of our weekly travel to Hampshire could be prohibitive. Thank you very much and we hope that the signage on the ground and our playing success under Ventnor Red Funnel has helped the name of Red Funnel. SSC has sponsored the coloured clothing for our junior players. The system of match sponsors has continued and makes an excellent contribution to our funds.


VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023


FINANCIAL REVIEW
Reserves policy
At the year end the charity holds £881,667 (2022 - £923,054) in reserves, £881,667 (2022 - £923,054) of which is unrestricted, and of this free reserves not invested in fixed assets amount to £30,927 (2022 - £38,041).

Of this £3,633 (2022 - £3,633) is designated as for the JC Rogers Trust fund, set aside for expenditure on the club's under 16s team the colts, and £7,560 (2022 - £7,560) has been allocated to the maintenance fund set aside for potential future maintenance costs, leaving £19,734 (2022 - £26,848).

The reserves are held to allow the charity to function with flexibility and to allow it to deal with cashflow fluctuations and meet the unexpected expenses that can arise in running the club. The trustees are aiming to increase reserves to a level of £40,000 at which point it will be budgeted to maintain this level, with investments and maintenance programme factored into the 1-5 year budget schedules.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document the memorandum and articles of association dated 20 January 2011, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The memorandum and articles of association state that there must be a minimum of three trustees. Each year one third of the trustees are required to retire by rotation at the annual general meeting.

Trustees may be appointed by ordinary resolution at general meeting, if proposed for re-election by the trustees, or if nominated for election by a member and notice is given prior to the meeting.

The trustees may also appoint a new trustee by resolution of the trustees. Any trustee appointed in such a manner must retire at the next annual general meeting, in addition to any other directors retiring by rotation.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees are keen to ensure there are measures and financial management processes in place to ensure the achievement of the key objectives and safeguarding of the charity's funds and assets. This is in line with the Charity Commission's Guidance paper 'Charities and risk management (CC26)'

The Trustees have delegated the role of financial management to the finance committee, with updates and reports presented to the executive committee. The Finance Committee will further develop risk logs, annual financial action plans and monthly reporting of actuals against budget. Other Charity function risks are also included as well as the financial elements.

Whilst we have some immediate financial risks with the current costs of utilities, the club feels unable to invest in other areas such as the new balcony steps, much needed mower and re-carpeting the changing room in this financial year.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07286116 (England and Wales)

Registered Charity number
1141876


VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023


Registered office
Ventnor Cricket Club
Steephill Road
Ventnor
Isle of Wight
PO38 1UF

Trustees
R B Cook
G A Burnett
M N Fletcher
Rev N D Cox
R E George
Mrs F Newnham

Company Secretary
R B Cook

Independent Examiner
G Kelly, A.C.A., F.C.C.A.
Garbetts (IOW) Limited
Exchange House
St Cross Lane
Newport
Isle of Wight
PO30 5BZ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 30 July 2024 and signed on its behalf by:





M N Fletcher - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
VENTNOR CRICKET CLUB LIMITED


Independent examiner's report to the trustees of Ventnor Cricket Club Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








G Kelly, A.C.A., F.C.C.A.

Garbetts (IOW) Limited
Newport
Isle of Wight

Date: .............................................

VENTNOR CRICKET CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 34,258 - 34,258 53,711

Charitable activities
Training, hall and net hire 10,061 - 10,061 9,135
Subscriptions 5,387 - 5,387 3,341

Other trading activities 2 6,222 - 6,222 7,147
Other income 1,032 - 1,032 596
Total 56,960 - 56,960 73,930

EXPENDITURE ON
Raising funds 636 - 636 470

Charitable activities
Costs of operations 97,711 - 97,711 81,889
Total 98,347 - 98,347 82,359

NET INCOME/(EXPENDITURE) (41,387 ) - (41,387 ) (8,429 )


RECONCILIATION OF FUNDS
Total funds brought forward 923,054 - 923,054 931,483

TOTAL FUNDS CARRIED FORWARD 881,667 - 881,667 923,054

VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 850,640 - 850,640 879,081
Investments 8 100 - 100 100
850,740 - 850,740 879,181

CURRENT ASSETS
Debtors 9 3,010 - 3,010 4,399
Cash at bank and in hand 30,930 - 30,930 43,231
33,940 - 33,940 47,630

CREDITORS
Amounts falling due within one year 10 (3,013 ) - (3,013 ) (3,757 )

NET CURRENT ASSETS 30,927 - 30,927 43,873

TOTAL ASSETS LESS CURRENT LIABILITIES 881,667 - 881,667 923,054

NET ASSETS 881,667 - 881,667 923,054
FUNDS 12
Unrestricted funds 881,667 923,054
TOTAL FUNDS 881,667 923,054

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


VENTNOR CRICKET CLUB LIMITED (REGISTERED NUMBER: 07286116)

BALANCE SHEET - continued
31 OCTOBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 30 July 2024 and were signed on its behalf by:





M N Fletcher - Trustee

VENTNOR CRICKET CLUB LIMITED

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (11,301 ) 14,472
Net cash (used in)/provided by operating activities (11,301 ) 14,472

Cash flows from investing activities
Purchase of tangible fixed assets - (17,940 )
Net cash provided by/(used in) investing activities - (17,940 )

Change in cash and cash equivalents in the
reporting period

(11,301

)

(3,468

)
Cash and cash equivalents at the beginning
of the reporting period

2

42,231

45,699
Cash and cash equivalents at the end of the
reporting period

2

30,930

42,231

VENTNOR CRICKET CLUB LIMITED

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023


1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023 2022
£    £   
Net expenditure for the reporting period (as per the Statement of
Financial Activities)

(41,387

)

(8,429

)
Adjustments for:
Depreciation charges 28,441 23,772
Decrease/(increase) in debtors 1,389 (1,663 )
Increase in creditors 256 792
Net cash (used in)/provided by operations (11,301 ) 14,472

2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2023 2022
£    £   
Cash in hand 427 427
Notice deposits (less than 3 months) 30,503 42,804
Overdrafts included in bank loans and overdrafts falling due within one year - (1,000 )
Total cash and cash equivalents 30,930 42,231



3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.22 Cash flow At 31.10.23
£    £    £   
Net cash
Cash at bank and in hand 43,231 (12,301 ) 30,930
Bank overdraft (1,000 ) 1,000 -
42,231 (11,301 ) 30,930
Total 42,231 (11,301 ) 30,930

VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The 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, with the exception of investments which are included at market value.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - 2% on cost
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Fundraising events 6,222 7,147

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 28,441 29,063

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.


5. STAFF COSTS

The average monthly number of employees during the year was as follows:

2023 2022
Charitable activities Nil Nil

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 52,711 1,000 53,711

Charitable activities
Training, hall and net hire 9,135 - 9,135
Subscriptions 3,341 - 3,341

Other trading activities 7,147 - 7,147
Other income 596 - 596
Total 72,930 1,000 73,930

EXPENDITURE ON
Raising funds 470 - 470

Charitable activities
Costs of operations 79,674 2,215 81,889
Total 80,144 2,215 82,359

VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£    £    £   

NET INCOME/(EXPENDITURE) (7,214 ) (1,215 ) (8,429 )


RECONCILIATION OF FUNDS
Total funds brought forward 930,268 1,215 931,483

TOTAL FUNDS CARRIED FORWARD 923,054 - 923,054

7. TANGIBLE FIXED ASSETS
Freehold Freehold Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 23,000 1,081,904 101,572 20,935 1,227,411
Disposals - - (9,106 ) - (9,106 )
At 31 October 2023 23,000 1,081,904 92,466 20,935 1,218,305
DEPRECIATION
At 1 November 2022 - 256,937 86,607 4,786 348,330
Charge for year - 21,639 2,615 4,187 28,441
Eliminated on disposal - - (9,106 ) - (9,106 )
At 31 October 2023 - 278,576 80,116 8,973 367,665
NET BOOK VALUE
At 31 October 2023 23,000 803,328 12,350 11,962 850,640
At 31 October 2022 23,000 824,967 14,965 16,149 879,081


VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
MARKET VALUE
At 1 November 2022 and 31 October 2023 100
NET BOOK VALUE
At 31 October 2023 100
At 31 October 2022 100

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Ventnor Cricket Club Trading Ltd
Registered office: Steephill Road, Ventnor, Isle of Wight, PO38 1UF
Nature of business: Bar and Shop
%
Class of share: holding
Ordinary 100
31.10.23 31.10.23
£    £   
Aggregate capital and reserves 11,885 18,144
Profit for the year 12,366 23,049

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Intercompany account - 204
Other debtors 350 -
Accrued income 856 699
Prepayments 1,804 3,496
3,010 4,399


VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) - 1,000
Intercompany account 101 -
Accruals and deferred income - 400
Accrued expenses 2,912 2,357
3,013 3,757

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank overdrafts - 1,000

12. MOVEMENT IN FUNDS
Net
At movement At
1.11.22 in funds 31.10.23
£    £    £   
Unrestricted funds
General fund 98,790 (19,673 ) 79,117
Maintenance fund 7,560 - 7,560
Grant funded assets 813,071 (21,714 ) 791,357
JC Rogers trust fund 3,633 - 3,633
923,054 (41,387 ) 881,667
TOTAL FUNDS 923,054 (41,387 ) 881,667

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 56,960 (76,633 ) (19,673 )
Grant funded assets - (21,714 ) (21,714 )
56,960 (98,347 ) (41,387 )
TOTAL FUNDS 56,960 (98,347 ) (41,387 )


VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
At movement At
1.11.21 in funds 31.10.22
£    £    £   
Unrestricted funds
General fund 85,729 13,061 98,790
Maintenance fund 7,560 - 7,560
Grant funded assets 833,346 (20,275 ) 813,071
JC Rogers trust fund 3,633 - 3,633
930,268 (7,214 ) 923,054
Restricted funds
England and Wales Cricket Trust (children
and/or women)

1,215

(1,215

)

-

TOTAL FUNDS 931,483 (8,429 ) 923,054

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 72,930 (59,869 ) 13,061
Grant funded assets - (20,275 ) (20,275 )
72,930 (80,144 ) (7,214 )
Restricted funds
England and Wales Cricket Trust (children
and/or women)

-

(1,215

)

(1,215

)
England and Wales Cricket Trust (Inspired
To Play)

1,000

(1,000

)

-
1,000 (2,215 ) (1,215 )
TOTAL FUNDS 73,930 (82,359 ) (8,429 )

Maintenance Fund: Includes funds set aside by the trustees for the maintenance of the club's building and facilities.

Grant Funded Assets: Includes funds made up of the net book value of assets aquired under grant funding provided specifically for that purpose. A large proportion of the fund is made up of the clubhouse, with some additional equipment funded making up the remainder. Funds of £21,714 were transferred out of the fund to general reserves to reflect the depreciation charged to general reserves in respect of grant funded assets.


VENTNOR CRICKET CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. MOVEMENT IN FUNDS - continued

JC Rogers Trust Fund: Includes funds recieved as a legacy from Mr JC Rogers and set aside by the club for expenditure on the Colts, the club's under 16's team.

Shed Fund: Includes funds received towards the purchase of a new shed for storage.

England and Wales Cricket Trust (children and/or women) Fund: Includes funds received towards increasing the number of children (boys and girls) and/or women participating in the game.

England and Wales Cricket Trust (Inspired To Play): Includes funds received towards increasing the number of children (boys and girls aged under 18 years) participating in recreational cricket during the summer holidays.

13. RELATED PARTY DISCLOSURES

The charity operates a trading subsidiary, Ventnor Cricket Club Trading Limited. Shares in the subsidiary are held in trust for the charity by charity trustees. During the year to 31 October 2023 the trading subsidiary generated taxable profit of £12,769 (2022 - £23,670), and donated £18,625 (2022 - £28,400) to the charity. At 31 October 2023 a balance of £101 was owed from the charity to the trading subsidiary (2022 - £204 owed to the charity by the trading subsidiary)..