REGISTERED CHARITY NUMBER: 1176671
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 FOR
THE ATLANTIC AVENGERS TRUST
McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
THE ATLANTIC AVENGERS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 7 |
THE ATLANTIC AVENGERS TRUST (REGISTERED NUMBER: 117671)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025
The Trustees present the Annual Report together with the Financial Statements of the Charity for the year ended 30th April 2024.
OBJECTIVES AND ACTIVITIES Objectives and activities
The Charity was registered as a Foundation CIO on 15th January 2018.
The objects of the Charity are for the public benefit within the county of Kent to promote community participation in healthy recreation by providing Grants of financial assistance to charitable and voluntary organisations to assist with the provision of equipment, access to facilities and other services that will enable individuals to take part in a range of sports and activities that are capable of promoting physical health and fitness.
Objectives and Activities undertaken
The Atlantic Avengers Trust was constituted to support fundraising efforts relating to the Atlantic Ocean Row undertaken by Enrique Reina & John Wilson (AKA The Atlantic Avengers). Fundraising contributed to the cost of completing the Charity Row with the projected, surplus funds identified for use for the charitable purpose of the Trust.
Specialist, sponsorship packages were sold, with recipients receiving advertising space on Sic Parvis Magna - the Atlantic Ocean rowing boat. A number of fundraising events were organised specifically for The Atlantic Avengers Trust such as a Gala Dinner and a Charity Ball. Funds were also raised through attendance at external events such as football matches, Charity events and business meetings.
The Atlantic crossing took place between the 27th of November 2018 and 23rd February 2019, setting a number of world records in the process.
Since the row was completed in February 2019 no further fundraising activity has been undertaken, although some donations have been received. The Trust still retains some reserves which are identified to support local charities and individuals.
Achievements
The charity’s principal objective is to support local people and charities in their sporting endeavours with the aim to inspire, motivate and provide financial support (where needed). Following the completion of the row, the Trust performed this role in two main ways:
1) The award of Grants to local charities
2) Delivering inspirational talks to a wide range of organisations, including Schools; Sports Clubs; Cubs & Scouts; Charities, eg: The Sports Trust, Rotary Club; businesses and business groups, eg: BITA.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Charity is governed by its constitution dated 15th January 2018. Meetings of the Trustees are held as needed.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1176671
Registered office
Castle View Castle Road Saltwood Hythe Kent CT21 4QY
Page 1
THE ATLANTIC AVENGERS TRUST (REGISTERED NUMBER: 117671)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025
Trustees
K Gardiner J Osborne Mrs C V Reina E I Reina M Dix P S Carney J Wilson
Approved by order of the board of trustees on 27 January 2026 and signed on its behalf by:
E I Reina - Trustee
Page 2
THE ATLANTIC AVENGERS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable activities | 120 | 7,123 | |
| Governance costs | 630 | 600 | |
| Total | 750 | 7,723 | |
| NET INCOME/(EXPENDITURE) | (750) | (7,723) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,800 | 9,523 | |
| TOTAL FUNDS CARRIED FORWARD | 1,050 | 1,800 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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THE ATLANTIC AVENGERS TRUST (REGISTERED NUMBER: 117671)
BALANCE SHEET 30 APRIL 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 2,640 | 2,760 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 |
(1,590) | (960) |
| NET CURRENT ASSETS | 1,050 | 1,800 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 1,050 | 1,800 |
| NET ASSETS | 1,050 | 1,800 | |
| FUNDS | 6 | ||
| Unrestricted funds | 1,050 | 1,800 | |
| TOTAL FUNDS | 1,050 | 1,800 |
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2026 and were signed on its behalf by:
E I Reina - Trustee
The notes form part of these financial statements
Page 4
THE ATLANTIC AVENGERS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 (FRS102)(effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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.
2. GRANTS PAYABLE
| GRANTS PAYABLE | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Charitable activities | - | 7,000 | |
| The total grants paid to institutions during the year was as follows: | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Folkestone Rowing Club | - | 5,000 | |
| Hythe Town Youth FC | - | 1,000 | |
| Folkestone Invicta Football Club | - | 1,000 | |
| - | 7,000 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.
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continued...
THE ATLANTIC AVENGERS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||||
|---|---|---|---|---|---|
| fund | |||||
| £ | |||||
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Charitable activities | 7,123 | ||||
| Governance costs | 600 | ||||
| Total | 7,723 | ||||
| NET INCOME/(EXPENDITURE) | (7,723) | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 9,523 | ||||
| TOTAL FUNDS CARRIED FORWARD | 1,800 | ||||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Accrued expenses | 1,590 | 960 | |||
| 6. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.5.24 | in funds | 30.4.25 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 1,800 | (750) | 1,050 | ||
| TOTAL FUNDS | 1,800 | (750) | 1,050 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | - | (750) | (750) | ||
| TOTAL FUNDS | - | (750) | (750) | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| At 1.5.23 | in funds | 30.4.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 9,523 | (7,723) | 1,800 | ||
| TOTAL FUNDS | 9,523 | (7,723) | 1,800 |
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THE ATLANTIC AVENGERS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | (7,723) | (7,723) |
| TOTAL FUNDS | - | (7,723) | (7,723) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.5.23 | in funds | 30.4.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 9,523 | (8,473) | 1,050 |
| TOTAL FUNDS | 9,523 | (8,473) | 1,050 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | (8,473) | (8,473) |
| TOTAL FUNDS | - | (8,473) | (8,473) |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2025.
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