Registration number:
Oxfordshire Cricket Board
(A company limited by guarantee)
for the Year Ended 30 September 2020
Oxfordshire Cricket Board
Contents
Statement of Directors' Responsibilities |
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Accountants' Independent Assurance Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Oxfordshire Cricket Board
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Chartered Accountants' Independent Assurance Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Oxfordshire Cricket Board
for the Year Ended 30 September 2020
Independent Chartered Accountants’ Review Report to the Directors of The Oxfordshire Cricket Board
We have reviewed the financial statements of The Oxfordshire Cricket Board for the year ended 30th September 2020, which comprise of the balance sheet, profit and loss and the related notes, 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 including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Directors’ responsibility for the financial statements
As explained more fully in the Directors’ Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants’ responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements and ICAEW Technical Release TECH 09/13AAF (Revised) Assurance review engagements on historical financial statements. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics.
Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the company, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
• so as to give a true and fair view of the state of the company’s affairs as at 30th September 2020, and of its profit for the year then ended;
• in accordance with United Kingdom Generally Accepted Accounting Practice; and
• in accordance with the requirements of the Companies Act 2006.
Chartered Accountants' Independent Assurance Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Oxfordshire Cricket Board
for the Year Ended 30 September 2020
Use of our report
This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 13th November 2020. Our review work has been undertaken so that we might state to the company’s directors those matters we have agreed to state to them in a reviewer’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our review work, for this report or the opinions we have formed.
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Chartered Accountants
Oxford
OX1 3LE
Oxfordshire Cricket Board
(Registration number: 7376156)
Balance Sheet as at 30 September 2020
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2020 |
2019 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net assets |
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Capital and reserves |
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Other reserves |
35,574 |
37,048 |
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Profit and loss account |
100,926 |
108,171 |
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Shareholders' funds |
136,500 |
145,219 |
For the financial year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Oxfordshire Cricket Board
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
General information |
The company is a company limited by guarantee, incorporated in the United Kingdom, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
The company is a non profit making entity responsible for the running and development of the game of cricket in Oxfordshire and derives its income from various cricket, education and community boards by way of grant, donations and fund raising procedures.
Government grants
The company received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised using the accruals model and as such are recorded in the profit and loss account in the period in which the company is entitled to such grants as a result of having furloughed staff members.
Trade debtors
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Oxfordshire Cricket Board
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
2020 |
2019 |
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Trade debtors |
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Prepayments |
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- |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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