THE ASIAN CRICKET COUNCIL
Company No: LL 03608
(Incorporated in Labuan F.T., Malaysia, under the Offshore
Companies Act, 1990, as a Company Limited by Guarantee)
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2007
Company No: LL 03608
THE ASIAN CRICKET COUNCIL
(Incorporated in Labuan F.T., Malaysia, under the Offshore Companies Act, 1990, as a Company
Limited by Guarantee)
CONTENTS
Page
Financial Statements
Income and Expenditure Account
13
Balance Sheet
4
Statement of Changes in Funds
5
6–7
Cash Flow Statement
Notes to the Financial Statements
8 - 21
Detailed Income and Expenditure Account
2
22
Company No: LL 03608
THE ASIAN CRICKET COUNCIL
(Incorporated in Labuan F.T., Malaysia, under the Offshore Companies Act, 1990, as a Company
Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 SEPTEMBER 2007
Revenue
September 2007
USD
March 2007
USD
394,273
391,311
Tournament expenses
(1,639,350)
Operating expenses
(1,546,301)
(2,683,327)
Other operating income
────────
(2,791,378)
49,345
────────
(2,242,671)
────────
(2,791,378)
(81)
────────
(2,242,752)
4,617,627
────────
1,826,249
════════
6,860,379
────────
4,617,627
════════
Deficit before taxation
Taxation
Deficit for the period/financial year
Accumulated fund as at 1st April
Accumulated fund as at 30th September/ 31st March
The accompanying notes form an integral part of these financial statements.
3
-
Company No: LL 03608
THE ASIAN CRICKET COUNCIL
(Incorporated in Labuan F.T., Malaysia, under the Offshore Companies Act, 1990, as a Company
Limited by Guarantee)
BALANCE SHEET AS AT 30 SEPTEMBER 2007
September 2007
USD
March 2007
USD
67,870
74,446
1,654,052
16,578,523
────────
18,232,575
────────
1,231,802
18,035,720
────────
19,267,522
────────
2,749,276
1,306,455
1,650,000
3,250,000
197,318
────────
9,153,049
────────
9,079,526
────────
9,147,396
════════
2,311,703
1,650,000
6,500,000
173,475
────────
10,635,178
────────
8,632,344
────────
8,706,790
════════
1,826,249
2,034,530
5,286,617
────────
9,147,396
════════
4,617,627
313,618
3,775,545
────────
8,706,790
════════
NON-CURRENT ASSET
Furniture, fixtures and equipment
CURRENT ASSETS
Receivables, deposits and prepayments
Cash and bank balances
LESS: CURRENT LIABILITIES
Payables
Provision for courses and tournaments
Advance received for Asia Cup 2008
Advance from the ICC
Provision for gratuity
NET CURRENT ASSETS
NET ASSETS
REPRESENTED BY:
Accumulated fund
Development fund
ICC special fund for Asian Region
The accompanying notes form an integral part of these financial statements.
4
Company No: LL 03608
THE ASIAN CRICKET COUNCIL
(Incorporated in Labuan F.T., Malaysia, under the Offshore Companies Act, 1990, as a Company
Limited by Guarantee)
STATEMENT OF CHANGES IN FUNDS
FOR THE PERIOD ENDED 30 SEPTEMBER 2007
Note
Accumulated
fund
Development
fund
ICC special
fund for
Asian Region
USD
USD
USD
Total
USD
313,618
3,775,545
8,706,790
-
-
(2,791,378)
30 September 2007
At 1 April 2007
Deficit for the period
Net inflows
Net inflows
At 30 September 2007
4,617,627
(2,791,378)
-
1,720,912
────────
1,826,249
════════
-
────────
2,034,530
════════
1,720,912
1,511,072
────────
5,286,617
════════
1,511,072
────────
9,147,396
════════
31 March 2007
At 1 April 2006
Deficit for the financial year
Net outflows
Net inflows
At 31 March 2007
6,860,379
(2,242,752)
────────
4,617,627
════════
3,930,652
(3,617,034)
────────
313,618
════════
10,791,031
-
(2,242,752)
-
(3,617,034)
3,775,545
────────
3,775,545
════════
The accompanying notes form an integral part of these financial statements.
5
-
3,775,545
────────
8,706,790
════════
Company No: LL 03608
THE ASIAN CRICKET COUNCIL
(Incorporated in Labuan F.T., Malaysia, under the Offshore Companies Act, 1990, as a Company
Limited by Guarantee)
CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 SEPTEMBER 2007
Note
September 2007
USD
March 2007
USD
CASH FLOWS FROM OPERATING ACTIVITIES
Deficit for the period/financial year
(2,791,378)
(2,242,752)
11,634
23,843
(394,273)
────────
(3,150,174)
22,673
59,811
(391,311)
81
────────
(2,551,498)
(204,533)
(3,250,000)
1,744,028
1,720,912
1,511,072
────────
(1,628,695)
────────
(1,628,695)
────────
(812,465)
6,500,000
(2,292,884)
(3,617,034)
3,775,545
────────
1,001,664
(883)
────────
1,000,781
────────
176,556
(5,132)
409,582
(6,332)
Adjustments for:
Furniture, fixtures and equipment
- Depreciation
Gratuity
Interest income
Taxation
Deficit before working capital changes
(Increase) in receivables
(Decrease)/Increase in advance from the ICC
Increase/(decrease) in payables and provision
Increase/(decrease) in development fund
Increase in ICC Special Fund for Asian Region
Cash flows from operations
Tax paid
Net cash flows from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
Purchase of furniture, fixtures and equipment
Loss from disposal of furniture, fixtures
and equipment
Net cash flows from investing activities
74
────────
171,498
────────
────────
403,250
────────
────────
(100,000)
────────
(1,457,197)
1,304,031
CASH FLOW FROM FINANCING ACTIVITIES
Settlement of loans
NET (DECREASE)/INCREASE IN CASH AND CASH
EQUIVALENTS
6
Company No: LL 03608
THE ASIAN CRICKET COUNCIL
(Incorporated in Labuan F.T., Malaysia, under the Offshore Companies Act, 1990, as a Company
Limited by Guarantee)
CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 SEPTEMBER 2007 (CONTINUED)
CASH AND CASH EQUIVALENTS AT
THE BEGINNING OF THE PERIOD/FINANCIAL YEAR
CASH AND CASH EQUIVALENTS AT THE END
OF THE PERIOD/FINANCIAL YEAR
18,035,720
────────
16,731,689
────────
16,578,523
════════
18,035,720
════════
The accompanying notes form an integral part of these financial statements.
7