## **THE CABE BENEVOLENT FUND** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 AUGUST 2025**_ The trustees present their annual report and financial statements for the year ended 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the benevolent fund's constitution, the Charities Act 2011 and "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). ## **Objectives and activities** The Benevolent Fund exists to provide for the relief in distressed circumstances of members, retired members and former members of the Associations and of widows and children and other immediate dependents in distressed circumstances of deceased members, retired members and former members of the Associations. Former members shall have had at least 15 years continuous membership. The Associations are The Association of Building Engineers and Chartered Association of Building Engineers. ## Public benefit The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Fund's aims and objectives and in planning future activities and setting the grant making policy for the year. The fund carries out these objects by providing grants to individuals so to help provide financial relief in distressed circumstances. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the benevolent fund should undertake. ## _Grant making policy_ ## Grantmaking There were 11 grants (2023 - 13 grants). The fund continued to raise its profile amongst members during the year, being promoted at regional presentations and talks. Improvements to governance and further alignment to the CABE during the year allowed for a focused marketing campaign during the previous year in order to reach more members and promote the benefits of the fund. ## **THE CABE BENEVOLENT FUND** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 AUGUST 2025**_ ## **Achievements and performance** ## _Significant activities and achievements against objectives_ During 2024, the fund continued to support people. The trustees did this by raising the profile of the fund to the members of CABE. The trustees also streamlined the application process meaning that requests were processed quicker to help members in distress. ## **Financial review** All of the Charity's reserves are unrestricted. Investment policy and objectives Investments are regularly reviewed by the trustees and professional advice obtained to ensure maximum benefits coupled with security. The trustees' current policy is to place greater emphasis on longer-term capital growth. The Charity's investments are held in accordance with the trustees' powers and are sufficient to meet the fund's obligations. ## _Reserves policy_ It is the policy of the benevolent fund that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the benevolent fund’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## **Structure, governance and management** The benevolent fund is a charitable incorporated organisation (CIO). Company number CE025305. The trustees who served during the year and up to the date of signature of the financial statements were: Mrs BA Menzies Mr M Wadood Mrs J Hall Mr P Grinyer Mr D Kitcatt Mr T Harvey-Soanes **THE CABE BENEVOLENT FUND** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 AUGUST 2025**_ Mr K Njie Mr C Wilde ## _Recruitment and appointment of trustees_ Trustees are appointed by the CABE board on the recommendation of the current Trustees. This would follow an advertisement in the CABE journal inviting CABE members to become Trustees, followed by an appropriate interview process. The Benevolent Fund has a finance policy which is followed concerning the payment of trade creditors , which is to : - Settle the terms of payment with suppliers when agreeing the terms of each transaction made; - pay in accordance with the company's contractual and other legal obligations. ## _Organisational structure_ The organisation structure for the Benevolent Fund is a board which is made up of 8 trustees, one of whom, Mr M Wadood is the chairman. They hold 3 official Trustee meetings each year which are held in September, January and May. The trustees' report was approved by the Board of Trustees. .............................. Mr M Wadood ## **Trustee** Date: .................25[th] June 2026............................ Charity registration number 1194181 (England and Wales) THE CABE BENEVOLENT FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 THE CABE BENEVOLENT FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustèos Mrs BA Menzies Mr M Wado(xJ Mrs J Hall Mr P Grinyer Mr D Kit¢att MrT HaNey-Soanes Mr K Njie Mr C Wilde Charlty numbgr (England and Walgs) 1194181 Prlnclpal addrn8S Lutyens House Billing Brook Road Weston Favell Northampton North8mplonshSre NN3 8NW Ind•pendènt •xamln•r Cottons Group Limlled Chestnut Field House Chestnut Fiold Rugby Warwickshir8 United Kingdom CV21 2P0 THE CABE BENEVOLENT FUND CONTENTS Pagg TNstees' report Independent examiner's report Slalemenl of financial activities Balance sheet Notes lo Ihg financial statemen15 6-12 THE CABE BENEVOLENT FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Irusleès present their annual report and linancial slaltsments for the year ended 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with Ihe benevolent fund's constitution, the Charities Act 2011 and "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 ol Ireland IFRS 1021" leffective 1 January 20191. Obl•ctlv¢s and actlvltles The Benevolent Fund exists to provide for th8 r8li8f in distr8ss8d circumstances of m8mbers. retired members and former members of the Associations and of widows and children and other immediate dependents in distressed circumstances of deceased members, retired members and formgr members of the Associations. Formor members shall have had al leasl 15 years continuous membership. The Associations are The Association of Building Engineers and Chartered Association of Building Engineers. Public boneflt The trustees confirm that they have referrgd to the guidance contained in the Charity Commission's genero1 guidance on public benefit when reviewing the Fund's aims and objeclivgs and in planning future activities and setting the grant making policy lor the year. The fund carries out Ihgs9 objects by providing grants to individuals $0 lo help provide financial relief In dislrossgd circumstances. Public ben8fil The Iruslees have paid due regard to guidance issued by the Charity Commission in deciding what aciivilies the benevolgnl fund should undgrtake. Grant making policy Grantmaklng There were 10 granls12024- 11 granlsl. The fund continued to raise ils profile amongst members during the year, being prornoled al regional presentations and talks. Improvements lo governance and further alignment lo the CABE during the year allowed for a focused marketing campaign during the previous year in order lo rgach more membgrs and promolg the benefits ol the fund. Achlevements and performance SNgnific&nl 8clivilies and achievements against objectives During 2025, the fund conlinugd to support people. The Iruslees did this by raising the profilg of the fund to the members of CABE. The truslees also streamlingd the application process moaning Ihal requests were pro¢essed quicker to help mombgrs in distrgss. Financial review Flnanclal posltlon At the end of the financial year 2024-25. the fund remains in a healthy financial posits'on wilh nel funds of £696.075. Despite economic uncgrtainly and reduced interest rates. the fund's investments continued to perform well. generating income of £21,180. All of the Charity's reserves are unreslricled. Invg$tm&nt policy and objèctivès Investments are regularly reviewed by the trusteos and professional advice obtained to ensure maximum benefits coupled with se¢urity. The trustees, Current poliw is to place greater grnphasis on longgr-term Capital growth. The Charity's investments are held in accordance with the Iruslees. powers and are sufficient to meet the fund's obligations. THE CABE BENEVOLENT FUND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Reserves policy 11 is the policy of the bengvolenl fund that unrestricted funds which have not been designated for a specific use should be mainlaingd at a lgvel equivalent to between three and six month's expenditure, The Irust88s consider that reserves at this level will ensure that, in the event of a signifi¢ant drop in funding, they will be able to continue the benevolgnl fund's Current activities while consideration is given lo ways in which additional funds may be raised. This level ol r8seNes has be8n maintained ihroughoul the yea¥. Structure. governance and management The ben8vol8nl fund is a chafilable incorporated organisalion ICIOI. Cornpany number CE025305. The Iruslees who served during the year and up lo the dale of signature of the financial statements were.. Mrs BA Menzi8S Mr M Wadood Mrs J Hall Mr P Grinyer Mr D Kilcall Mr T Harvey-soanes Mr K Njie Mr C Wildè Recruilmgnt and appointment of Injslees Trustees are appointed by the CABE board on the recomrnendalion of the current Trustees. This would follow an advertisement in the CABE journal inviting CABE members lo become Trustees, followed by an appropriate interview process. The Benevolent Fund has a finance policy which is followed conceming the payment of tradg creditors which is lo Settle the terms of payment with suppligrs when agreeing the terms of oach transaclion made., pay in accordance with thg company's ¢ontractual and other legal obligations. Organisalional slruclure The organisalion structure for the Benevolgnl Fund is 8 board which is made up of 8 trustees, one of whom, Mr M Wadood is the chairman. They hold 3 official Trustee meetings each year which are held in September, January and May. The Iruslees. report was approved by the Board of Trustees. Mr M Wadood Trustee 25th June 2026 Date.. THE CABE BENEVOLENT FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CABE BENEVOLENT FUND I report lo the Iruslees on my examination of the financial slalèmenls of The CABE Benevolent Fund Ilhe benevolent fund) for the year ended 31 August 2025. Rasponslbllitles and basls of rgport As the Iruslees ol the benevolent fund you are responsible for the preparation of the financial slalements in accordance with the requiremènts of the Charities Act 2011. I report in respect of my examination of the benevolent fund's financial statements carried out under section 145 of the Charities Act 2011. In caryin9 Out my examination I have foll¢)wed the Directions given by the Charity Commission under section 1451Sllbl of the Charities Act 2011. Independènt examln•rf8 Statement Your attention is drawn to the lact that the charity has prepared the financial statements in accordance with the relevant version ol the Statement of Recommended Practice applicable to charitigs preparing Iheir financial slaternents in a¢¢ordance with thg Financial Reporting Standard applicable in thg UK and Rgpublic of Ireland IFRS 1021 in preference lo the A¢counling and Reporting by Charitlgs.. Statement ol Recommended Practice issued on 1 April 2005 which is relgrred to in thg gxlant rogulations bul has now boen withdrawn. l undgrstand that this has been done in order for the financial statements lo providg a Irug and fair vigw in accordance with UK Ggnerally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting rgcords were not kept in rgspecl of the bengvolenl fund as requlred by secllon 130 of the Charities Ac12011. the financial statements do not accord with those records.. or the financial statements do not comply with the applicable requirements concerning the form and conlenl of financial slalemenls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial slalemenls give a true and lair view. which is not a maller considered as part of an independent examination. I have no concems and havg come across no other matters in connection with the examination to which attention should be drawn in this rgport in order to gnable a propgr understanding ol the financial stalgmgnts lo be reached. Cottons Group Llmlted Cheslnul Field House Cheslnul Field Rugby Warwickshire CV212PD United Kingdom Dale.. THE CABE BENEVOLENT FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrnstrlcted Unro8trlct•d fund$ funds 2025 2024 Notes Incomo from: Donations and legacies Inve51menls 2,911 21,180 5,830 21,680 Total Incomo 24,091 27,510 Exyndlture on: Charitable acts'vilies 19,498 32,402 Total •xpèndltur• 19,498 32,402 Nel gainslllosses) on investments 10 118,2751 38,830 Not Sncomall•xpondlturel and movoment In funds 113,6821 33,938 Re¢on¢lllatlon of funds.. Fund balances at 1 Soptember 2024 709,757 675,819 Fund balance8 at 31 Augu8t 2025 696,075 709,7S7 The stslemenl of financial activities includes all gains and losses recognised in the year. All income 8nd expenditure derive Irorn continuing activities. THE CABE BENEVOLENT FUND BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Notes Fixad assets Investments 12 659,440 677,715 Currgnl a$sot$ Debtors Cash al bank and in hand 770 38,375 1,486 33,205 39,145 34,691 Credltors.. amounts falllng due wlthln one year 14 12,5101 12,6491 Net current ass•ts 36.635 32,042 Total assets 1988 curront Ilabllltle¥ 696,075 709,757 The fund8 of the bonevolent lund Unreslricled funds 1S 696,075 709,7S7 696.075 709,757 The financlal sialemenls were approved by the Iruslees on Mr M Wadood Trustee THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles Charity information The CABE Benevolent Fund is a charitable incorporated organisalion registered in the UK and formed by Deed of Trust on 22 April 2021. Cofflpany number- CE025305. 1.1 Basls of praparatlon The financial slalements have been prepared in accordance with the benevolent fund's governing document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl of Recomrnended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. leffeclive 1 January 20191. The benevolent fund is a Public Benefit Enlily as defined by FRS 102. The benevolent fund has taken advantage of the provisions in the SORP for charities not lo prepare Statement of Cash Flows. The financial slal8m8nls have departed from the Charities (Accounts and Reports) Regulations 2008 only lo Ihe extent rgquired to provide a trug and lair view. This departure has involved following the Statemenl of Recommendod Practicg for charitlgs applying FRS 102 rather than the version of the Slalemenl of Recommended Practice which is referred lo in the Regulalions bul which has since been withdrawn. The financlal slal8m8nl8 are prepared in 8l&rlln9, whlch Is the funcllonal currency of the benevolent fund. Monetary amounts in these flnancial stal8m8nls are rounded lo the nearest £. The financial stalemenls have been prepared under the historical cost convention modified lo include the revaluation of certain financial instruments al fair value. The principal accounting policies adopted are sel out bglow. 1.2 Golng concern Al tho time ol approving the financial statements, the trustees have a Teasonable expeclalion that thg bgnevolent fund has adequate resources to conlinug in operational existgnce lor the foreseeable future. Thus the trustees continue to adopl the going concern basis ol accounting in preparing the financial statements. 1.3 Charltabl8 funds Unreslricled funds are available for use al the discretion of the Iruslee5 in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial stalemenls. Endowment funds are subject lo specific conditions by donors that the capital musl be maintained by the benevolent fund. 1.4 Income Income is recognised when tho bonovolent fund is legally entitled to it after any performan¢0 conditions have beon met, the amounts can bo mgasurod reliably. and it is probablo that in¢ome will bo received. Cash donations arg reu)gnised on receipt. Othgr donations are rocognisgd once the bgnevolent fund has been notified of the donation, unless performance conditions require deferral ol the amount. Income tax recoverable in relation to donations re￿iVed ijnder Gift A'd or deeds of covenant is recognised at the time of the donation. THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng poll¢l88 IContlnu8dl Legacies are recognised on receipt or otherwise il the benevolent fund has been notified ol an impending dislribulion, the amount is known, and receipt is expecled. If the amount is not known, the legacy Is Irealed as a conlingenl asset. 1.5 Exp•ndlturo Expenditure is recognised oncg thgre is a legal or constructs'vg obligation to transfgr economic bgnefit to a third paty, it is probable that a transfer of 9conomic benefits will bg required in settlemgnl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are ma(Je up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direcl costs attributable to a single activity are allocated directly lo that activity. Shared costs which contribute to more than one activity and support costs which are nol attributable to a single activity are apportioned belweon those activitlgs on a basis consistent with the use of resources. Central staff costs are allocated on the basis of ts'me spent, and dgpreciation charges are allocated on the portion of the asset's usg. 1.6 Flxgd a88at Invastmonls Fixed asset investments are initially mèa$ur8d al transaction price excluding transaction co$l$, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel incornellexpendilurel for the year. Transaction costs are expensed as ineurred. 1.7 C8•h and cash oqulvalènti Cash and cash equivalents include cash in hand, deposits held al call wilh b8nks, other short-lerm liquld investments with orlginal malurilies of three months or less, and bank overdrafts. Bank ovgrdrafts are shown wllhln borrowlngs In current Ilabi111I8s. 1.8 Flnanclal InBtruments The benevolent fund has elected lo apply the provisions of Section 11 '8asic Financial Inslrumenls, and Section 12 '01her Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the benevolent fund's b8lance Sheet when the benevolent lund becomes party lo the eonlractual provisions of the inslrumenl. Financlal assets and liabilllies are offset. wllh the nel amounts presented the financlal stalemenls. when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo sellle on a nel basis or lo realise the asset and settle the liability simultaneously. Baslc flnanclal assots Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangefflenl conslilules a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Finaricial assets classified as receivable within one year are not amortised. THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcl88 IContlnu8dl 8asi¢ financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price tjnless the arrangement conslitules a financing transaction, where the debt instrument is measured at the present valug of the ftjture payments dis¢ounled al a market ralo of inlergst. Financial liabilits'es classifigd as payable within one year are not amortised. Debt instrumenis are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or setvices that have been acquired in thg ordinary ¢o(Jrse of operations from SLJppliers. Amounts payable are classified as current liabilities if payment is due within one ygar or less. 11 not, thgy are presgnlgd as non-current liabilities. Trade Creditors are recognised initially al Iransaclion price and subsequently measured al amortised cost using ihe effeclive inleresl method. Derecognltlon of flnan¢lal Ilabllltlos Financial liabililies are derecognised when the benevolent fund's conlraclual obligations expire or are discharged or cancelled. Donatlon# and legacl•¥ Unrgstrlct8d Unrestrictgd funds funds 2025 2024 Donalions and gifts 2,911 5,830 Inv•stm•nts Unre8trlct8d Unreslricled fundi funds 2025 2024 Interosl receivable Income from investments 7.012 14,168 7,847 13,833 21.180 21,680 THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Ex￿ndIture on Charltablo actlvltios Haading #ac982 2025 Heading #ac982 2024 Dlr8ct cost$ Insurance Sundry expenses Professional services Trustee expenses 597 348 219 1,405 2,184 2.442 999 4,038 4,1S6 Grant funding of activities Isee note 51 14.000 26,900 Sharo of support and govornan¢• costs (see noto 61 Governance 1.460 1,346 19,498 32,402 AnalysSs by fund Unrestricted funds 19,498 32,402 Grants payable Charltable Charltable Expondlturo Exp•ndlture 2025 2024 Grants to individuals 14,000 26,900 14.000 26,900 THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support costs Support Goveman¢e costs costs 2025 2024 Audit fees 1,460 1.460 1,346 1,460 1,460 1,346 Analysed be￿88n Charitable activities 1,460 1.460 1,346 Net movomont In funds 2025 2024 The nel movement in funds is slated after chargingllcredilingl.. Feas payable for the indèpendènt examination of the charills financial slalemenls 1,460 1,346 Truste08 None of the Iruslees lor any persons connected wllh them) received any remuner811on or benefits from the benevolgnl fund during Ihe year. Expenses of £1,59512024- £2,184) were relmbursed to the Iruslees. Employ••8 The average monthly number of employo95 during the ygor was.. 2025 Numbor 2024 Number Total Thgro were no employees whoso annual remunaralion was moro than £60.000. 10 Galns and lossgs on Inv8stmonts Unrestricted Unrestricted funds funds 2025 2024 Gainslllossesl arising on.. Revaluation of investments 118,2751 38,830 10- THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11 Taxatlon The charity is exernpt from tsxation on its activities because all its income is applied for charitable purposes. 12 Flx•d assot Invostm•nts Unllst•d Inv•stmonl$ Cost or valuatlon Al 1 September 2024 & 31 August 2025 677,715 Carrylng amount Al 31 August 2025 677,715 13 Debtorn 2025 2024 Amounts falllng duo wlthln one y•ar: Trade debtors Prepayments and a¢¢ru¢d incomg 19 751 813 673 770 1,486 14 Cr•dStor8: amount$ falllng du• wSthln on• y•ar 2025 2024 Trade creditors Accruals and deferred income 1,399 1,250 2.510 2,510 2,649 15 Unre8trlctod fund8 The unrgstriclgd funds of the charity comprise the unexpended balancgs of donations and grants which are not subjgd to specific ¢onditions by donors and 9rantors as lo how they may be used. Thesg include designated funds which have begn sel aside out of unreslri¢ted funds by the Iruslegs for specific purposes. At1 Stptember 2024 Incorning resources Resources expended Gains and At 31 August 1055es 2025 General funds 709,757 24,091 119,4981 118,2751 696,075 11 THE CABE BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 15 Unrestrl¢tgd funds IContlnu8dl Pr•vious y•ar- At1 September 2023 Incoming Rosour¢o6 resources expended Gains and At 31 August los$•s 2024 General funds 675,819 27,510 132.4021 38,830 709,757 16 Analy$ls of not a$$gt$ bglwgon fund$ Unr•strlcted funds 2025 At 31 August 2025.. Investments Ctjrrenl asselsllliabilillesl 659,440 36,635 696,075 Unr•itrlct•d funds 2024 At 31 August 2024.. Inveslmgnts Current asselsllliabililiesl 677,715 32,042 709,757 17 Rglatad party transactlons The 8enevolenl Fund exists lo provlde for the relief In distressed circumstsnces of members, retired members and former members of the Association of Building Engineer5 and Chartered Association of Building Engineers of widows and children and other immediate dependanls in distressed circumstances of deceased members, rellred members and fomier members of the Associations. Various members of the Association submit donations lo the CABE Benevolent Fund along with their annual subscriptions. As at 31 August 2025 £20 12024 £8121 was owed to the CABE Benevolent Fund from the Charte￿d Association of Building Engineers. 12-