REGISTERED CHARITY NUMBER: 1182688
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
CAG TRUST
CAG TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |
CAG TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a CIO.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number
1182688
Principal address
21 Wychwood Avenue Knowle Solihull West Midlands B93 9DF
Trustees
S Thomas M A Gibson Ms R H Billingham Mrs H Clifton
Independent Examiner
Mrs J. Biggs FCCA.CTA Armstrongs Bishop Simmons Chartered Accountants and Tax Advisors Gethin House 36 Bond Street Nuneaton Warwickshire CV11 4DA
Approved by order of the board of trustees on 27th January 2025 and signed on its behalf by:
Simon Thomas, Trustee
Page 1
INER'S REPORT TO TBE TRUSTE CAG TRiJST IDdepeDdeRt exxwiner'5 report to the tr•rteM ofcAC trn# I rcport to the charity trusttt8 on my ¢xomÉnation of the aeeouttts of CAG {the Trus¢) for the year ended 31 March 2024. Re8poDslbllftleJ b¥sl$ of r¢port As the charity trustees of the Trust you are re4)onsible for tk pieporation of the pth)unts xcordance with the Twyirancnts of the Charttics Act 2011 A). I ret in of my ¢xaminalion of the Trust's ¥xounlb wied out under Sedion 145 of the Act and in Ing out my examinatiOD T have follow dl applicthle DireaioD9 given by th¢ Charity Commission ullder Sediort 145(5Xb) of thc AeL lthpendeDt esamimer'j st*temeDt I hayc c¥Jmpleted my cxanination. I confirnj ihai no matcri&l m#tt¢rs h•v¢ ¢om¢ to my attention in comyrtion wilh the ¢xamination giving me cause to believe that in any ¢T181 rwx¢: accountinE records w¢re nor k¢p¢ in resp1 of th¢ TnJ$t as required by S#tiOD 130 of theAct' OT the accounts do not ac¢ord with those rOrdS. or the aceount5 do not comply with thc applycable requirernents eon¢erning the fom and content of ac¢ount$ set out in the Charities (Accounts attd Report51 Rcgulations 2008 oih¢r than any requircmcnt that the accounts Eive trne and fwr view which is not a matter ¢on5id¢red as part oran indcpajdcnt examination. I have no concern8 atMI have come aCTr no oth¢r matters in ¢orll]eetion with the ¢xwninatson to which atteniion should be drawn in this fq>Drt in ord¢r to enabl¢ a proper WLd¢rstanding of the aonIS to b¢ re4¢hcd. Mrs J. BiÈE$ FCCA. cfA ArnJAron8s Bishop Simmon5 Chartered Acethjntts tnd Tax Adviso Gdhin Hous¢ 36 Bond Str¢¢t Nuneon Warwickshire CVI 14DA Dat¢...!i 2025 PaEe 2
CAG TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 20,725 121 20,846 19,567 1,279 5,918 **7,197 ** |
Restricted fund £ 15,690 - 15,690 7,317 8,373 10,536 18,909 |
2024 Total funds £ 36,415 121 36,536 26,884 9,652 16,454 26,106 |
2023 Total funds £ 48,140 31 48,171 50,535 (2,364) 18,818 **16,454 ** |
|---|---|---|---|---|
The notes form part of these financial statements
Page 3
CAG TRUST
BALANCE SHEET
31 MARCH 2024
| Notes CURRENT ASSETS Cash at bank and in hand NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds Endowment funds TOTAL FUNDS |
2024 £ 26,106 26,106 26,106 26,106 7,197 18,909 26,106 |
2023 £ 16,454 16,454 16,454 16,454 5,918 10,536 16,454 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ………………………… 27th January 2025 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 4
CAG TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 (FRS 102) (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. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Taxation
The charity is exempt from tax on its charitable activities.
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
Page 5
continued...
CAG TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
.
2. INVESTMENT INCOME
| Interest receivable | 2024 £ 121 121 |
2023 £ 31 31 |
|---|---|---|
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees` remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees` expenses.
There were no trustees` expenses paid in the year ended 31 March 2024 nor for the year ended 31 March 2023.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Interest Income EXPENDITURE ON Raising funds NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 20,229 31 20,260 18,276 1,984 3,934 5,918 |
Restricted fund £ 27,911 - 27,911 32,259 (4,348) 14,884 10,536 |
Total funds £ 48,140 31 48,171 50,535 (2,364) 18,818 16,454 |
|---|---|---|---|
Page 6
continued...
CAG TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
5. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Current assets Current liabilities 6. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Net movement in funds, included in the above ar Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Unrestricted funds £ 7,197 - 7,197 e as follows: Incoming resources £ 20,846 15,690 36,536 |
Restricted fund £ 18,909 - 18,909 At 1.4.23 £ 5,918 10,536 16,454 Resources expended £ (19,567) (7,317) (26,884) |
2024 Total funds £ 26,106 - 26,106 Net movement in funds £ 1,279 8,373 9,652 Gains and losses £ - - - |
2023 Total funds £ 16,454 - 16,454 At 31.3.24 £ 7,197 18,909 26,106 Movement in funds £ 1,279 8,373 9,652 |
|---|---|---|---|---|
Page 7 Continued…
CAG TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
At 1.4.22 £ 3,934 14,884 18,818 |
Net movement in funds £ 1,984 (4,348) (2,364) |
At 31.3.23 £ 5,918 10,536 16,454 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 20,260 | (18,276) | - | 1,984 |
| Restricted funds | ||||
| restricted | 27,911 | (32,259) | - | (4,348) |
| TOTAL FUNDS | 48,171 | (50,535) | _- | (2,364) |
A current year 12 months and prior year 12 months combined position is as follows:
| At 1.4.22 | Net |
At 31.3.24 | |
|---|---|---|---|
| Movement | |||
| Unrestricted funds | £ | £ | £ |
| General fund | 3,934 | 3,263 | 7,197 |
| Restricted funds | |||
| Restricted fund | 14,884 | 4,025 | 18,909 |
| TOTAL FUNDS | 18,818 | 7,288 | 26,106 |
continued...
Page 8
CAG TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. MOVEMENT IN FUNDS -continued
A current year 12 months and a 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 | 41,106 | (37,843) | 3,263 |
| Restricted funds | |||
| Restricted fund | 43,601 | (39,576) | 4,025 |
| TOTAL FUNDS | 84,707 | (77,419) | 7,288 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 9
CAG TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment Income Interest receivable Total incoming resources EXPENDITURE Member Expenses Equipment & Repairs Premises Expenses Leaders Expenses & Meetings Insurance Sundries Finance Bank charges Total resources expended Net (expenditure) / Income |
2024 2023 £ £ 36,415 48,140 121 31 36,536 48,171 17,020 1,243 3,265 3,719 1,278 271 29,282 9,732 3,310 6,462 1,424 264 26,796 50,474 88 61 26,884 50,535 9,652 (2,364) |
|---|---|
This page does not form part of the statutory financial statements
Page 10
Trustees’ Annual Report for the period
From 01 April 2023 to 31 March 2024
Charity name: CAG Trust
Charity registration number: 1182688
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The objects of the CIO are to advance in life and relieve the needs of young male persons aged 10 to 18 years in Solihull and surrounding area in particular but not exclusively |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The provision of a range of challenging outdoor sports and adventure activities at weekly meetings and residential trips which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | It is confirmed that the Trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The charity has continued to see our activities in demand by young people in the area, with 36 members taking part on a regular basis. Members from previous years continue to feed through to the DofE program as they become old enough to take part. DofE participation numbers at the end of the year were at 14, down very slightly from the end of FY’23 but getting prepared for the largest cohort ever to be enrolled in the new FY. Continuing strong membership numbers throughout the year enabled a full program of weekly activities and overnight trips to take place. The weekend trips program included taking members away to carry out activities such as: • staying in an off grid house deep in the Welsh forests to undertake a mountain biking weekend • surfing in Devon • staying in group accommodation in the Lake District for a ghyll scrambling and mountain adventures weekend • visiting the Peak District to undertake some climbing and weasling adventures. The Bronze DofE participants were able to choose between two different forms of method of travel, biking and walking, and took part in the group's first ever multi- modal DofE expedition weekends - all participants passed! The final part of our recovery after Covid was to re-start the members fund raising car wash known locally as "CAG Wash". This fundraiser allows the members to take part in the fund raising that pays for their activities as well as providing an excellent service to the local community. |
Our continuing strong numbers, the DofE award, our array of week to week activities and overnight trips have enabled a fantastic group of members to get out and about in the outdoors to have fun with others, make new friendships and learn new skills - memories that will live with them forever and enable them to take part in society as mature and responsible individuals and enable others to do the same.
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Please refer to the annual accounts |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Reserves are retained for items of expenditure on equipment and activities in furtherance of the Charity's objectives |
| Amount of reserves held | Para 1.22 | Please refer to the annual accounts |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
| Additional information (optional) You may choose to include further statements |
Additional information (optional) You may choose to include further statements |
where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Please refer to the governing Constitution document |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | The Trustees comprise of volunteers and are appointed by the current Trustees following consultation with the wider member and leader group. |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | CAG Trust |
|---|---|
| Other name the charity uses | Challenge Adventure Group |
| Registered charity number | 1182688 |
| Charity’s principal address | 75 St Johns Close, Knowle, Solihull, B93 0NN |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Simon Thomas | ||||
| Ruth Billingham | ||||
| Mark Gibson | Until 31/03/2024 | |||
| Helen Clifton | Until 30/11/2024 | |||
| Alec Kirkbride | 01/04/2024 - | |||
| Elizabeth McManus | 01/04/2024 - | |||
– Corporate trustees names of the directors at the date the report was approved
Director name None
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| None | ||
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Name of chief executive or names of senior staff members (Optional information) | ||
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Simon Paul Thomas Position (eg Secretary, Trustee Chair, etc) Date 27 January 2025