- Mendip Caving Group CIO 1197325 ’ - Trustee s Reports for 2025 2026
Please find herein the reports of the various club officers for the period April 2025 to April 2026, unless otherwise stated.
Secretary’s report
Bill Chadwick writes:
Membership is currently 115, about the same as 2025.
We hold our routine trustee meetings about once every two months or so, on weekday evenings, using Microsoft Teams. Our meetings cover formal business such as membership transfers etc. as well as pressing cottage and equipment issues, investments and finance monitoring and so on. The minutes of our meetings are posted on the member’s area of our web site for all to see.
A request to close the old MCG charity 270088 was submitted on the 15[th] April 2026 . Bank accounts linked to the old charity have been emptied. The Land Registry have finally completed the registration of the MCG CIO as the owner of our cottage. Ben Cooper has confirmed that all our investments are now linked to the MCG CIO and its bank account.
During the year we have updated our internet connection to use the 4G mobile system. This is now much faster than we had from our old ADSL landline connection. We have ported our old telephone number to a VoIP service over the 4G connection, so are ready for the upcoming PSTN switch off. As well as being faster, the new services will be cheaper.
Having amended our constitution at the 2025 AGM to permit exclusive use bookings, we have had two such booking and several enquiries. It may be that we need to reconsider charging exclusive users for all 30 beds, especially mid-week. Members can access the tackle store and drying room during an exclusive use booking.
Many thanks to Tom Harrison for his hard work on our accounts and the examiners Steve Porter and Linda Milne for their checking of them. Tom has also done sterling work producing a new, modern looking web site for us, as well as an online membership and accounting system, which considerably eases our administrative burden.
Kay Matthews has produced two great editions of MCG News.
Jason Kirby continues to work hard to keep the cottage running smoothly. The big topic coming into this year’s AGM is Fire Safety. Jason has worked with MCG member Rob Davis to conduct a fire risk assessment. This has revealed that we need to make significant investments to bring our property up to the required, post Grenfell, standards. A cottage work weekend was held in February.
Mark Edwards has yet again been busy recruiting several new members and we have made up some new Full members. Mark’s efforts in this area are most important in maintaining the youth and vigour of the MCG – thankyou Mark.
During the year, we have had several great socials and meals organised by Dan Matthews, including a superbly catered Xmas dinner.
On the digging front, 2025-2026 has seen some great progress in Stainsby’s shaft. There now looks to be a good chance it will link to Upper Flood before I am 70!
Finally, 9 years as secretary will probably be enough. I might not stand next year, as I am increasingly busy with a growing number of grandchildren.
Treasurer’s report
For the period 1[st] Jan to 31[st] December 2025, Tom Harrison writes:
Summary
2025 brought a surplus of £773.57 . The group's “non-investment” funds stand at £37,443 at year end, continuing to provide a solid financial foundation for the club. We have a large expense coming up which our cottage warden will discuss.
I see no need to adjust the bed night fees or membership cost for 2027 at this time. However, I think that we might need to look at a small increase in 2027 for 2028. Particularly, if utility costs continue to rise or if we have a reduction in member numbers or bed nights over 2026.
For 2025, Guest bed night income rose strongly to £3,132 — up from £1,748 in 2024 — reflecting a very positive year for cottage occupancy. Member bed night income was £1,670, somewhat below 2024's £1,935. Day use fees remained broadly stable.
Membership income rose slightly to £4,378 (2024: £4,274), reflecting a broadly stable membership base.
Investment income — dividends and interest — totalled £1,328 , slightly below 2024's £1,154 on a like-for-like basis.
On the expenditure side, Maintenance & Improvements was the largest single cost at £3,184, significantly up from £1,145 in 2024, This was primarily due to fire safety related costs. Gas costs rose to £1,816 (2024: £1,387), and insurance increased modestly to £1,530 (2024: £1,460). The Christmas Dinner produced a surplus of £93.
With the 70[th] Anniversary Dinner in 2024 being a large one-off event, a like-for-like comparison shows the group's underlying surplus broadly in line with prior years.
As well as looking after the MCG finances, I was also able to update the website with some modernisation to allow simpler process for membership management, new forms for potential members and a Member’s Area with what I hope are useful resources . Any suggestions welcome!
Furthermore, I was able to create a Membership Database and Accounts Processing Manager to help with renewals and updating member details, as well as with reconciling the accounts. Details are held securely via a Google database called firebase which is fully secure and encrypted and offers better security than the databases and spreadsheets we used previously.
The old HSBC current account has been replaced with a Natwest Account and I hope that the HSBC account will have been closed by the AGM.
Tom Harrison MCG Treasurer
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Investment report
Ben Cooper writes:
Custodian Trustees Report 2026 for year ending 31[st] December 2025 Ben Cooper
Investments achieved a very strong net growth of 17.9% between 1[st] January and 31[st] December 2025.
Investment Valuation and historic comparison
| 31/12/2018 | 31/12/2019 |
31/12/2020 |
31/12/2021 |
31/12/2022 |
31/12/2023 |
30/12/2024 |
31/12/2025 | |
|---|---|---|---|---|---|---|---|---|
| Henderson Glbl | ||||||||
| Equity | £4,157.18 | £4,815.52 | £4,858.32 | £5,525.65 | £5,691.67 | £6,005.86 | £6,365.33 | £7,416.60 |
| Henderson UK | ||||||||
| Resp… | £5,592.09 | £7,120.08 | £6,619.49 | £7,507.57 | £7,094.46 | £7,981.65 | £8,261.09 | £9,521.91 |
| M&G Charifund | ||||||||
| Inc | £17,813.22 | £20,773.60 | £17,169.51 | £19,466.54 | ||||
| M&G Charifund | ||||||||
| Acc | £18,382.55 | £19,049.74 | £20,765.89 | £25,872.85 | ||||
| Premier (Credit Suisse) |
£6,511.95 | £7,782.73 | £5,577.43 | £5,895.03 | £6,036.94 | £9,172.98 | £9,643.91 | £10,483.40 |
| Rathbone Income | ||||||||
| Fund | £4,635.29 | £5,314.36 | £4,873.99 | £5,865.70 | £5,855.74 | £6,004.62 | £5,892.35 | £6,919.15 |
SVS Brown-Shipley £2,520.22 £2,961.63 £3,317.77 £3,754.34 £3,064.09 £3,793.44 £3,802.57 £4,320.27 Total funds £41,229.95 £48,767.92 £42,416.51 £48,014.83 £46,125.45 £52,008.29 £54,731.14 £64,534.18 COIF £5,701.42 £5,733.88 £5748.96 £5,749.48 £5,805.75 £6,060.17 £6,370.67 £6,600.26 Total investment £46,931.37 £54,501.80 £48,150.39 £53,764.31 £51,931.20 £61,101.81 value £58,068.46 £71,134.44
Unit Prices and historic comparison
| Unit Price | Unit Price | Unit Price | |
|---|---|---|---|
| Investment | 31/12/2023 | 31/12/2024 | Growth |
| Henderson Global Equity ... | £0.7011 | £0.7980 | 13.8% |
| Henderson UK Responsible ... | £1.3330 | £1.5100 | 13.3% |
| M&G Charifund Accumlation | £326.9910 | £407.4080 | 24.6% |
| Premier (CS) Monthly Income Fund | £1.8840 | £2.0480 | 8.7% |
| Rathbone Income Fund | £9.2850 | £10.9030 | 17.4% |
| SVS Brown Shipley* | £3.5406 | £3.9310 | 11.0% |
| TOTAL Investments | £54,731.144 | £64,534.184 | 17.9% |
Investment Analysis
| Investment | Valuation | Realised Income2 |
Re- investment 3 |
Yield4 | Performance5 | Performance5 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31/12/2024 | 31/12/2025 | £ | % | |||||||
| Henderson Global Equity Income Fund E |
£6,365.33 | £7,416.60 | 16.5% | £32.86 | £156.59 | 3.0% | £7,449.46 | £1,084.13 | 17% | |
| Henderson UK Responsible Income E Inc |
£8,261.09 | £9,521.91 | 15.3% | £204.68 | £152.36 | 4.3% | £9,726.59 | £1,465.50 | 18% | |
| M&G Charifund Accumulation |
£20,765.89 | £25,872.85 | 24.6% | £614.11 | 3.0% | £25,872.85 | £5,106.96 | 25% | ||
| Premier Miton | £9,643.91 | £10,483.40 | 8.7% | £113.18 | 1.2% | £10,596.58 | £952.67 | 10% | ||
| Rathbone Institutional Income Fund |
£5,892.35 | £6,919.15 | 17.4% | £293.63 | 5.0% | £7,212.78 | £1,320.43 | 22% | ||
| SVS Brown Shipley | £3,802.57 | £4,320.27 | 13.6% | £36.43 | 1.0% | £4,320.27 | £517.70 | 14% | ||
| TOTAL Funds | £54,731.14 | £64,534.18 | £0.00 | 17.9% | £644.35 | £959.49 | 2.9% | £65,178.53 | £10,447.39 | 19.1% |
| COIF | £6,370.67 | £6,600.26 | 3.6% | £229.59 | 3.6% | £6,600.26 | £229.59 | 4% | ||
| TOTAL Investments | £61,101.81 | £71,134.44 | 16.4% | £644.35 | £1,189.08 | 3.0% | £10,676.98 | 17.5% |
-
Valuation Growth is simply the valuation of the current holding compared to last years, including any increased stock holding.
-
Realised Income is the income received into the Group’s current account; effectively withdrawals from the investment funds.
-
Re-investment is the income re-invested in the investment funds. The re-investment amount is already included in Valuation. 4. Yield is the income as a percentage of the invested value (i.e. the value at the start of the year)
-
Performance is overall gain, taking into account the capital growth and income (i.e. compared to the start of the year).
Historic Performance
Historic performance adds the annual performance across years to show the long term performance of each fund. This is useful for future investment decisions.
| 31/12/2020 31/12/2021 31/12/2022 31/12/2023 30/12/2024 31/12/2025 |
2-year 3-year 5-year |
|
|---|---|---|
| Henderson Glbl Equity 0.9% 13.7% 3.0% 5.5% 6.0% 17.0% 23% 29% 45% Henderson UK Resp… -7.0% 13.4% -5.5% 12.5% 3.5% 17.7% 21% 34% 42% M&G Charifund Inc -13.3% 18.8% M&G Charifund Acc -0.2% 3.6% 9.0% 24.6% 34% 37% 56% Premier (Credit Suisse) -24.5% 10.4% 6.9% 8.5% 9.5% 9.9% 19% 28% 45% Rathbone Income Fund -8.3% 20.3% -0.2% 7.3% 2.8% 22.4% 25% 33% 53% SVS Brown-Shipley 13.3% 13.9% -18.0% 23.8% 1.7% 13.6% 15% 39% 35% |
||
| Total funds | -11% 16% -1% 8% 7% 19.1% 26% 33% 48% |
|
| COIF 0.3% 0.0% 1.0% 0.0% 5.1% 3.6% 9% 9% 10% Total investment value -9% 14% -1% 7% 6% 17.5% 24% 31% 44% |
Tackle Master
Ed Ford:
No report received (personal reasons)
Cottage Warden
Jason Kirby writes:
Cottage Warden
AGM 2026 end of year report
Another year has passed at MCG. Just a quick introduction for the newer members. My name is Jason Kirby. I'm the cottage warden at MCG.
Quick summary of progress this year.
Steve Church has done amazing work as usual on the electric upgrades, including changing our electricity consumer unit to a modern, metal one, that complies with the latest regulations. He has also done some other work including clipping of the trunking. This is all work done in the background to improve our fire safety rating. I have improved some other bits and bobs around the cottage working alongside Russ. We have made turning off the water supply outside a little simpler which should avoid any further floods. I have also changed one toilet for a new one. I have instructed a contractor to flu line our chimney and install a new more efficient fire as the old one failed its assessment inspection. This work should hopefully have been carried out in time for the AGM and we should all be sitting next to a nice warm fire right now.
On a more serious note, some of you may have heard about me conducting a fire risk assessment for MCG. This work was carried out by myself and MCG member Rob Davis, a retired fire chief officer for our area, with the help of Becky Vials. We identified some troubling key factors where we have weaknesses in our defense against a fire. This includes the bedroom doors, the lounge, the staircase, and the library door. The lounge itself is high risk due to the fact we have open flames. The kitchen is also high risk again due to the fact we have open flames. The library is high risk because we have computers and door entry systems on charge and heating systems to keep our books in good condition. Under the stairs we have a distribution board which means the staircase becomes a risk area. There is one further risk area and that is where we charge batteries. I'm sure that does not need explanation.
In accordance with 2026 fire regulations, we have a duty of care as charity trustees, to make the cottage as safe as possible for members and guests. We are duty-bound by law to provide fire doors in the vulnerable areas that have been highlighted I have already begun hunting down an approved fire door installer that is licensed to carry out this work. I am exploring all possible avenues regarding keeping the costs down as low as possible. However, fire-doors are expensive but essential and we unfortunately have no choice. We must spend money to make the building safe for you all. It's difficult to give you an exact figure currently, but I estimate the cost per door to be somewhere between £700 and £1,500 each.
Social Secretary
Dan Matthews writes:
Social secretary report.
A quiet year in all.
Last year we decided to have a special meal at the hut for the AGM as there wasn’t a lot of interest in the pub meal.
We had a nice German sausage and beer night was lots of fun.
I attempted to arrange frisbee golf, but we started drinking and didn’t end up leaving the hut.
The highlight of the year was without a doubt the Christmas dinner. Superb food cooked by a chef.
I’m happy to stand again but also happy someone else to take my place.
Caving Secretary
Mark Edwards writes:
It has been a fairly standard year, seeing plenty of caving trips over forty on Tuesday evenings and a similar amount on club weekends and other days. Twenty-nine newbies have experienced caving with the club, and as of the end of 2025 we had eleven new members.
Club members have visited other areas of the UK including South Wales, Yorkshire and the Peaks.
Digging has continued most notably in Stainsby’s with various breakthroughs.
A number of probationers have transitioned to full members.
Thanks very much to Robbin Harris for helping out on Tuesday nights especially with the S.R.T training.
Editor
Kay Matthews writes:
Editor’s Report
Since I began as editor in April 2024, there have been three MCG News editions: June 2024, January 2025 and October 2025.
I had planned a regular six-monthly edition, but caving news ebbs and flows… Or how busy I am and those who plan to write are…
I have planned the next edition for the end of April 2026 so please send me any articles or pictures you want included ASAP. Anything is welcome, it doesn’t need to be perfect!
Remember, it is YOUR magazine and a chance to be immortalised in caving print forever….no pressure!
As usual, thank you to members who have produced articles, updates, digging reports, photographs and trip reports.
I am now employed rather than self-employed (as I was previously), so I have less time available. So, the time for you to speak up is now if you fancy the role! I am very happy to coach you through it…
Kay Matthews
15[th] April 2026
Librarian
Mark Ormond writes:
Mendip Caving Group AGM 2026 – Librarians Report
Having been elected as Librarian last year and travelled a lot for work I have not managed to be as diligent a Librarian as I hoped. If I’m honest I found the size of our holdings of various club journals quite intimidating!
I must pass on many thanks to Joan Goddard for leaving the library in excellent condition and order. Huge thanks to Mike Moxon who is a constant silent helper and source of useful pointers and advice.
The library continues to grow with club journals and various periodicals. This year has seen some clubs move away from printed copies of their journals to online copies. How we handle these is a question for the future – we could print them locally and store them; or trust they will be accessible from the relevant clubs in years to come.
The book catalogue is now searchable from our website, thanks to Tom Harrison for sorting this aspect. We have added some books this year – I am keen to hear from anyone with suggestions of new books to be ordered and stocked.
Some of our books appear to have gone missing and some remain signed out members for probably far too long. Could people please examine their bookshelves and return any books they have. If you have had a book for some time but still require it please sign it back in and out again.
I hope to carry out an audit of book holding in the next year as well as a clean up of the library. If anyone would like to join me in what promises to be a great adventure, please let me know so we can arrange a suitable date.
Finally, if anyone has any ideas or requests or even complaints, please let me know.
Mike Ormond