GLOUCESTERSHIRE CRICKET BOARD LIMITED
FINANCE DIRECTOR’S REPORT FOR THE YEAR ENDED 30th SEPTEMBER 2017
The Cricket Board’s accounts show a surplus for the year of £26529 (2016 £43177) on turnover of £711032 (2016 £634918) which represents a net margin of 3.73% (20166.86%) which is marginally above the Directors targeted net margin surplus of between 1% and 3%.
Headline Figures:-
2016 2016
Turnover 711032 634918 Increase 11.98%
Direct Cricket Costs 243108 197239 Increase23.26%
Other Cricket Related Costs 33703 33725 Decrease 0.01 %
Administration 408117 360916 Increase13.08 %
Surplus after Taxation 26539 43177 Decrease38.53%
The Cricket Board reviews it’s Reserves policy annually and following the format adopted to cover a winding up, the reserves required are £123056 (2016 £116605) actual Balance Sheet Reserves £182122 (2016 £155593) (see note in the Directors Report in the accounts).
With the Board’s reserves in a heathy position the Directors agreed to make available a further £15000 to increase the ECB’s Small Grant Scheme to insure all successful schemes would be supported to 90% of their required grant. There are a number of clubs who do not meet the ECB’s criteria for small grants but need equipment to meet facility requirements in a new league and these clubs are also to be supported.
Steve in his CEO report has reported on the Boards success in Chance to Shine, Women’s World Cup legacy and All Stars. Funding for Chance to Shine has remained relatively static but there were new sources of funding from ECB for both All Stars (£43000) and Women’s World Cup Legacy and Softball (£30400).The ability of the Board to continue to reach targets set both by ECB and external partners is down to a dedicated team of staff well organised and lead by Steve all of whom should be congratulated and thanked for yet another successful year.
Philip Carter BSc FCA
FINANCE DIRECTOR