Charity registration number 1127721
Company registration number 06756096 (England and Wales)
DURHAM COUNTY CRICKET FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
DURHAM COUNTY CRICKET FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
H Florek
M Smith (Chair)
(Appointed 15 February 2024)
E M Gaudern
(Appointed 22 March 2024)
K Ramanathas
(Appointed 22 March 2024)
T J Bostock
(Appointed 22 March 2024)
I M Dawson
(Appointed 15 February 2024)
K L Todd
(Appointed 22 March 2024)
P Pollard
(Appointed 10 October 2024)
Charity number
1127721
Company number
06756096
Registered office
The Riverside
Chester le Street
County Durham
DH3 3QR
Independent examiner
RMT Accountants & Business Advisors Ltd
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers
The Co-Operative Bank
29 High Street
Durham
DH1 3PL
DURHAM COUNTY CRICKET FOUNDATION
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5 - 6
Balance sheet
7
Notes to the financial statements
8 - 17
DURHAM COUNTY CRICKET FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing Articles of Association, the Companies Act 2006 and "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

The objects of the charity (listed below) are for the benefit of the public and, in particular, of County Durham and its surrounding areas:

 

 

Relating directly to the objects of the charity, the strategic focus areas provide a framework around which operational delivery is shaped. The work of the charity falls three main categories which are:

 

 

The charity supports communities to live happier and healthier lifestyles, while inspiring people to fulfil their potential using the game of cricket. Working alongside Durham Cricket and the Durham Cricket Board we aim to use the inspiring setting of Emirates Riverside to raise the aspirations of people in the North East. It operates in the community to deliver a range of health, education, community cohesion and cricket development projects, programmes and events, to thousands of people across the year.

Public benefit

The trustees have have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Achievements and performance
Significant activities and achievements against objectives
Financial review
Going concern

Despite a difficult couple of years, the Foundation merged with the Durham Cricket Board on June 1, 2024 and has added financial strength to it’s operations as a result of the merger. For the coming 12 months, the focus is on the delivering programs for which funding has already been secured, whilst evaluating new opportunities given the additional resources of the combined organisation. Additional sources of funding will hopefully be achieved to increase the number of programmes available for delivery. Consequently, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they have adopted the going concern basis in preparing the financial statements.

 

During the year a surplus of £550,158 was generated (2023: £34,345 deficit). The balance sheet shows total funds carried forward of £551,382 (2023: £1,224) of which £550,748 (2023: £590) relates to unrestricted funds and £634 (2023: £634) and relates to restricted funds.

DURHAM COUNTY CRICKET FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Reserves policy

The trustees have undertaken to secure reserves which will be at least equivalent to the winding up costs of the charity in the event of funding being withdrawn. A specific reserve of £15,000 has been designated for this purpose and the trustees are satisfied that the reserves at the current level meet this requirement.

 

Also within designated funds is a £5,000 reserve specifically created to fund future capital spend, including projected investment in CRM systems and replacement of essential IT equipment. The reserve will be released in line with the depreciation or write down in the capital items purchased.

 

At the year end, free reserves (total funds less restricted funds and designated funds and fixed assets) are in surplus by £549,058 (2023: deficit £19,797).

Risk Management

The trustees have a risk management strategy which comprises:

 

 

Changes to the economic climate are identified in the risk assessment as a threat to future funding. Ensuring proper procedures are in place with regard to working with young people is a further risk area.

 

Structure, governance and management

Governing document

Durham County Cricket Foundation is a company limited by guarantee and not having a share capital and a Registered Charity governed by its Memorandum and Articles of Association. (Charity number: 1127721; Company number: 06756096). It was incorporated on 24th November 2008 and commenced trading on 1st October 2009.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A Fletcher
(Resigned 15 February 2024)
H Florek
D Harker
(Resigned 15 February 2024)
R Jackson MBE
(Resigned 15 February 2024)
M North
(Resigned 15 February 2024)
C Roberts
(Resigned 15 February 2024)
G Weeks
(Resigned 15 February 2024)
M Smith (Chair)
(Appointed 15 February 2024)
E M Gaudern
(Appointed 22 March 2024)
B M Coult
(Appointed 22 March 2024 and resigned 11 October 2024)
K Ramanathas
(Appointed 22 March 2024)
I D Nairn
(Appointed 1 June 2024 and resigned 11 October 2024)
T J Bostock
(Appointed 22 March 2024)
I M Dawson
(Appointed 15 February 2024)
K L Todd
(Appointed 22 March 2024)
P Pollard
(Appointed 10 October 2024)
Recruitment and appointment of trustees

As set out in the Articles of Association, trustees are invited to join the Board. New trustees undertake an induction which includes a full briefing on the finances of the charity, an overview of the structure of cricket within Durham and the opportunity to visit one of the projects that is funded by the charity.

DURHAM COUNTY CRICKET FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Organisational structure

Staff are seconded to the charity by Durham Cricket CIC who also provide support services.

Statement of trustees' responsibilities

The trustees, who are also the directors of Durham County Cricket Foundation for the purpose of company law, are responsible for preparing the Trustees' 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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' report was approved by the Board of Trustees.

M Smith (Chair)
Trustee
19 February 2025
DURHAM COUNTY CRICKET FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DURHAM COUNTY CRICKET FOUNDATION
- 4 -

I report to the trustees on my examination of the financial statements of Durham County Cricket Foundation (the charity) for the year ended 30 September 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Stephen Slater FCA

RMT Accountants & Business Advisors Ltd
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Dated: 21 February 2025
DURHAM COUNTY CRICKET FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2024
2024
2024
2023
Notes
£
£
£
£
Income from:
Donations and legacies
3
787,920
-
787,920
22,580
Charitable activities
4
130,602
-
130,602
6,918
Total income
918,522
-
918,522
29,498
Expenditure on:
Charitable activities
Support costs
5
368,364
-
368,364
63,843
Total expenditure
368,364
-
368,364
63,843
Net income/(expenditure) and movement in funds
550,158
-
550,158
(34,345)
Reconciliation of funds:
Fund balances at 1 October 2023
590
634
1,224
35,569
Fund balances at 30 September 2024
550,748
634
551,382
1,224

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

DURHAM COUNTY CRICKET FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
22,580
-
22,580
Charitable activities
4
6,918
-
6,918
Total income
29,498
-
29,498
Support costs
5
63,843
-
63,843
Total expenditure
63,843
-
63,843
Net income and movement in funds
(34,345)
-
(34,345)
Reconciliation of funds:
Fund balances at 1 October 2022
34,935
634
35,569
Fund balances at 30 September 2023
590
634
1,224
DURHAM COUNTY CRICKET FOUNDATION
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
1,690
387
Current assets
Debtors
12
32,618
2,500
Cash at bank and in hand
543,268
3,373
575,886
5,873
Creditors: amounts falling due within one year
13
(26,194)
(5,036)
Net current assets
549,692
837
Total assets less current liabilities
551,382
1,224
The funds of the charity
Restricted income funds
15
634
634
Unrestricted funds
550,748
590
551,382
1,224

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 19 February 2025
M Smith (Chair)
Trustee
Company registration number 06756096 (England and Wales)
DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
1
Accounting policies
Charity information

Durham County Cricket Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is The Riverside, Chester le Street, County Durham, DH3 3QR.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Foundation entered the period with enough reserves and support to meet it’s obligations for the current programmes. With a feasibility study underway and potential funding opportunities arising from this, they have adopted the going concern basis in preparing the financial statements.

1.3
Charitable funds

Funds held by the charity are either:

 

 

Surplus funds held are deposited with the Co-operative Bank to earn interest prior to utilisation by the charitable company.

1.4
Income

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

 

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, 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.

 

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

DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 9 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified under charitable activities and includes direct costs which are attributable to specific activities (note 3) and governance costs which are associated with meeting the constitutional and statutory requirements of the charity (note 5). Where costs are attributable to more than one activity, these costs are apportioned across cost categories based on an estimate of the proportion of time spent on those activities.

 

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

1.6
Tangible fixed assets

Tangible fixed assets are held at historic purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 10 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

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

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In preparing these financial statements the trustees do not consider there were any significant areas of judgement that were required in applying the charity's accounting policies as set out above.

DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
694,706
8,883

Grants received

93,214
13,697
787,920
22,580
Donations and gifts
Donation from Durham Cricket Board Limited
625,025
-
General donations
2,611
6,383
Durham Cricket Board
47,650
-
Go North East
6,500
2,500
Chance to Shine
2,000
-
Newcastle Hospitals Charity
10,920
-
694,706
8,883
Grants receivable for core activities
ECB Core Funding
93,214
-
Newcastle Hospitals Charity
-
5,750
Karbon Homes
-
7,947
93,214
13,697
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Activities

Services from charitable activities

100,494
-
Other income
30,108
6,918
130,602
6,918
DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
5
Charitable activities
2024
2023
£
£
Staff costs
255,303
47,866
Depreciation and impairment
1,841
376

Direct programme costs

33,423
1,347

Insurance

-
3,964
290,567
53,553
Share of support costs (see note 6)
75,397
7,890
Share of governance costs (see note 6)
2,400
2,400
368,364
63,843
6
Support costs allocated to activities
2024
2023
£
£
Business Development
816
1,090
Utilities and Facilities
8,577
-
Operating and Maintenance Expenses
29,689
6,800
General administration
30,506
-
Clothing costs
5,809
-
Governance costs
2,400
2,400
77,797
10,290
Analysed between:
Support costs
77,797
10,290
2024
2023
Governance costs comprise:
£
£
Audit fees
2,400
2,400
2,400
2,400
7
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
2,400
2,400
Depreciation of owned tangible fixed assets
1,841
376
DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
8
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

 

G Weeks a former trustee who resigned in the year became employed by the charity in June 2024 when the merger between the Durham County Cricket Foundation and Board occurred. Total remunerations of £27,308 including employers national insurance and pension, of which £nil relates to their role as a trustee.

 

Expenses of £nil (2023: £nil) were reimbursed to the trustees during the year.

 

9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
11
2
Employment costs
2024
2023
£
£
Wages and salaries
227,109
42,959
Social security costs
19,025
3,281
Other pension costs
9,169
1,626
255,303
47,866

In the prior year up until June 2024 staff costs were recharged by Durham Cricket CIC as staff were seconded to the charity. Since then the charity has setup its own payroll.

There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

Key Management Personnel are deemed to be those having authority and responsibility, delegated to them by the trustees for planning, directing and controlling the activities of the Foundation. The total employee benefits of the Key Management Personnel charged to the Foundation were £69,160 (2023: £47,866).

10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
11
Tangible fixed assets
Computers
£
Cost
At 1 October 2023
17,341
Business combinations
3,144
Disposals
(16,202)
At 30 September 2024
4,283
Depreciation and impairment
At 1 October 2023
16,954
Depreciation charged in the year
1,841
Eliminated in respect of disposals
(16,202)
At 30 September 2024
2,593
Carrying amount
At 30 September 2024
1,690
At 30 September 2023
387
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,422
2,500
Other debtors
4,196
-
32,618
2,500
13
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
12,091
-
Trade creditors
8,082
2,636
Accruals and deferred income
6,021
2,400
26,194
5,036
14
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
9,169
1,626
DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14
Retirement benefit schemes
(Continued)
- 15 -

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 October 2022
Incoming resources
Balance at
1 October 2023
Incoming resources
Resources expended
Balance at
30 September 2024
£
£
£
£
£
£
Liontrust
634
-
634
-
-
634

The restricted funds relate to grants given for specific programmes within the work of the Foundation and are for the following purposes:

 

Liontrust: balance comprises restricted funding specifically for the Kenya Volunteer project, Let’s Be Women North East and various school engagement programmes.

16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 October 2023
Incoming resources
Resources expended
Transfers
At 30 September 2024
£
£
£
£
£
Capital reserve
5,000
-
-
(5,000)
-
Contingency fund
15,000
-
-
(15,000)
-
General funds
(19,410)
918,522
(368,364)
20,000
550,748
590
918,522
(368,364)
-
550,748
DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
16
Unrestricted funds
(Continued)
- 16 -
Previous year:
At 1 October 2022
Incoming resources
Resources expended
Transfers
At 30 September 2023
£
£
£
£
£
Capital reserve
5,000
-
-
-
5,000
Contingency fund
15,000
-
-
-
15,000
General funds
14,935
29,498
(63,843)
-
(19,410)
34,935
29,498
(63,843)
-
590

Funds have been designated as follows:

 

Capital Reserve: this reserve has been specifically created to fund future capital spend, including projected investment in CRM systems and replacement of essential IT equipment. The reserve will be released in line with the depreciation or write down in the capital items purchased.

 

Contingency Fund: represents ring fencing of monies to allow the orderly completion of program activity in the event of the wind up of the Foundation. This is in line with the Foundation’s Reserves policy as set out in the Trustees Report

 

17
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 30 September 2024:
Tangible assets
1,690
-
1,690
Current assets/(liabilities)
549,058
634
549,692
550,748
634
551,382
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 30 September 2023:
Tangible assets
387
-
387
Current assets/(liabilities)
203
634
837
590
634
1,224
DURHAM COUNTY CRICKET FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 17 -
18
Company Limited by Guarantee

The charitable company does not have a share capital and is limited by guarantee. Each member of the charitable company undertakes to contribute an amount not exceeding £10 to the assets of the charitable company in the event of it being wound up

19
Related party transactions

Durham Cricket CIC supplied staffing and other services to Durham County Cricket Foundation to the value of £41,859 (2023: £47,866 during the year, of which £nil (2023: £nil) remained outstanding at the end of the year.

 

Durham County Cricket Foundation supplied staffing and other services to Durham Cricket CIC to the value of £5,363 (2023: £nil) during the year, of which £nil (2023: £nil) remained outstanding at the end of the year.

 

Trustees D Harker and R Jackson served as directors of the Durham Cricket Board and Durham Cricket CIC during the year.

 

Although Durham County Cricket Foundation is structurally and financially independent from Durham Cricket CIC, the support of Durham Cricket CIC is important to the continuing efficient operation of the Foundation. The Articles of Association of the Foundation state that up to two individuals from Durham Cricket CIC may be trustees.

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