**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 re￿￿t 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 resp￿1 of th¢ TnJ$t as required by S#tiOD 130 of theAct' OT the accounts do not ac¢ord with those r￿OrdS. or the aceount5 do not comply with thc applycable requirernents eon¢erning the fom and content of ac¢ount$ 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 a￿o￿nIS to b¢ re4¢hcd. Mrs J. BiÈE$ FCCA. cfA ArnJAron8s Bishop Simmon5 Chartered Acethjnt￿ts tnd Tax Adviso Gdhin Hous¢ 36 Bond Str¢¢t Nune￿on 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