**Registered number: 02210675 Charity number: 298729**
## **CASP**
**(A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2023**
## **CASP**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Company, its Trustees and Advisers**|1 - 2|
|**Trustees' Report**|3 - 7|
|**Trustees' Responsibilities Statement**|8|
|**Independent Examiner's Report**|9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11 - 12|
|**Statement of Cash Flows**|13|
|**Notes to the Financial Statements**|14 - 34|
**(A Company Limited by Guarantee)**
## **CASP**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023**
|**Trustees**|A Buckley, PhD (resigned 1 March 2023)|
|---|---|
||S A Gibson, PhD|
||J P P Hirst, PhD, Chair|
||J A Howell, PhD (appointed 13 June 2022)|
||D M D James (resigned 11 April 2022)|
||S J Kape, PhD|
||B K Levell, PhD|
||J E A Marshall. PhD, Secretary|
||S H Molyneux (appointed 11 April 2022)|
||G J Nichols, PhD|
||C A G Pickton, MA|
||D W Waters, PhD (appointed 11 April 2022)|
||M J Whiteley, PhD|
|**Company registered**
**number**
02210675
**Charity registered**
**number**
298729
**Registered office**
Raleigh House
14C Compass Point Business Park
St Ives
Cambridgeshire
PE27 5JL
**Principal operating**
**office**
West Building
Madingley Rise, Madingley Road
Cambridge
Cambridgeshire
CB3 0UD||
Page 1
**CASP (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023**
**Company secretary** J E A Marshall, PhD **Chairman** J P P Hirst, PhD **Accountants** Whitings LLP Raleigh House 14C Compass Point Business Park Stocks Bridge Way St Ives Cambridgeshire PE27 5JL **Investment Advisors** Cantab Asset Management 50 Station Road Cambridge Cambridgeshire CB1 2JH
Page 2
## **CASP**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023**
The Trustees present their annual report together with the financial statements of Company for the 1 February 2022 to 31 January 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
CASP’s objectives are to conduct research into the geology of sedimentary basins of the world and to present and publish the results of such research for the advancement of public education.
CASP maintains on going research projects while developing new research areas and training young scientists.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Strategies for achieving objectives**
To achieve objectives, it is important to maintain sufficient reserves and raise enough income to continue medium and long term research projects and open new research areas.
Subscriptions received from industry allow CASP to conduct its geological research and achieve its charitable objectives.
There are currently two types of subscriptions:
Membership Subscription: Companies need to be members of CASP to participate in any research programme and to have access to CASP research facilities (e.g. library, rock collection). This is a yearly subscription.
Project Subscription: This is paid to join a particular project and receive scientific reports on a particular area or subject.
During the reporting year, one company supported CASP‘s research.
Page 3
**CASP**
**(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023**
## **Objectives and activities (continued)**
## **c. Activities undertaken to achieve objectives**
## Promotion
Promotional work was carried out throughout the year in order to raise money. Sixteen virtual and one in-person scientific workshops and seminars were organised to give CASP’s geologists the opportunity to present their current research to the subscribing and potentially subscribing companies. They were also able to discuss with them the funding of future research.
CASP’s research was also promoted through the following means:
- Mailings of project flyers targeted at different exploration groups;
- Regular updates on project development sent to potential subscribers;
- Presentation by CASP geologists at academic conferences;
- Coordinated series of promotional posts for new research projects using LinkedIn.
The CASP Website provides an easy and fast way of searching for reports and publications by research areas. The list contains reports produced by CASP over the last 44 years. In addition, the Home page lists the three latest reports and three latest publications as a "feed" for automatic download. The Website pages describing current research and activities are updated regularly.
CASP also operates an official linkedIn and twitter account to highlight the release of latest reports, news and activities.
## Publications
Every month, days are set aside to allow geologists to prepare scientific papers for publication of the results of their research. The Website search facility for publications provides a link to access the publication at the publisher’s website. Abstracts of the papers are available on the CASP Website.
## Training
Conferences and meetings are good platforms for exchanging scientific ideas and for promoting CASP but they also play an important role in the training of CASP staff. Most conferences offer courses and field studies, and CASP geologists have received further training by attending them.
Opportunities are given to undergraduates, MSc and PhD students to join CASP staff in field or laboratory settings to further their research and train in field geology; CASP also provides rock samples to undergraduates to carry out analyses as part of their course projects. Geologists join University field parties to share their knowledge and expertise with students in the field.
## Scholarship and grants
CASP is funding two CASE students, one at the University of Cambridge and one at the Imperial College London.
CASP awards a geological fieldwork grant, to the sum of approximately £10,000 per annum, to be shared between up to 5 recipients. The awards are made to encourage field-based research related to the low carbon energy transition. The relevance/interest is judged by a panel of Trustees.
Page 4
**(A Company Limited by Guarantee)**
## **CASP**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023**
## **Objectives and activities (continued)**
## **d. Main activities undertaken to further the Company's purposes for the public benefit**
Members of CASP as Charity Trustees are of the opinion that they have complied with their obligations in regard to the public benefit guidance as published by the Charity Commission and as required by the Charities and Trustee Investment (Scotland) Act 2005. CASP’s principal objective continues to be the advancement of geological research, and production of articles detailing their findings, which are later made available for public use for the advancement of education.
## **e. Risk management**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **f. Health and safety**
The Trustees have assessed the major risks to which CASP's employees and associates are exposed, in particular those related to the fieldwork activities, and have reviewed the Health and Safety policy and Risk Assessment System in place.
## **Achievements and performance**
## **a. Main achievements of the Company**
- Completion of two projects
- Continuing research in ten projects
- New development and research in carbon storage projects
- Production of 15 geological reports
- Publishing of 20 academic papers, either first author or co-authored
- Presentation of CASP research at International Conferences
- Staff involvement in the supervision of eight PhD students
- Successful application to UKRI to become an Independent Research Organisation
## **b. Key performance indicators**
- The production of 5 high quality reports
- The publishing of 12 high quality publications
- Discussions with international companies interested in CASP research
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 5
**(A Company Limited by Guarantee)**
## **CASP**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023**
## **b. Reserves policy**
CASP aims to maintain a level of strategic reserves so as to be less dependent on the ups and downs of its income source. The level of reserves should be sufficient to allow CASP to have a three year forward plan of income and expenditure that incorporates all reasonable scenarios. In the worst case scenario of a complete or significant loss of income from sponsors, the strategic reserves may be accessed to ensure the continued functioning to the charity. Access to the strategic reserves will be by agreement of the Trustees who will advise of any further actions as a result of the reduction of the reserves. The plan should take into account adjustments to project activities and staff establishment to reflect the income stream.
Free reserves available for use by CASP are deemed to be those that are readily realisable, less funds whose uses are restricted or designated for a particular purpose. The calculation therefore excludes property and other fixed assets which CASP use in the day-to-day running of the charity.
As a matter of policy, each year CASP reviews the value of the reserves required to be held in investments, cash and cash equivalents not restricted or designated for any particular purpose.
The broad target of the Trustees is to retain sufficient free reserves to enable the charity to continue its activities for a reasonable period of time, should there ever be a significant fall in incoming resources.
## **c. Financial risks**
The Charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
## Cash flow risk
The Charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
## Credit risk
The Charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The Charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The Charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
## Liquidity risk
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
Page 6
**(A Company Limited by Guarantee)**
## **CASP**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023**
## **Structure, governance and management**
## **a. Constitution**
The Charity is incorporated under the Companies Act as a charitable company limited by guarantee and is accordingly governed by its Memorandum and Articles of Association.
The members of CASP have each guaranteed liabilities of up to £1. In addition, CASP is also a registered charity and subject to the regulation of the Charity Commission.
The principal activity of the Charity during the year continued to be the advancement of education for the public benefit by conducting research into the geology of sedimentary basins of the world and the publication of the results of such research.
There have been no changes in the objectives since the last annual report.
## **b. Methods of appointment or election of Trustees**
The Committee of Management (COM) is a committee consisting of up to 12 trustees, who are each appointed as directors of the Charity for the purposes of the Companies Act. The COM elects a Chairperson and Vice Chairperson from among its members. This election is by majority vote at any meeting, with nominations submitted in writing to the Company Secretary not less than 7 working days prior to that meeting. The current Chairperson holds a casting vote in the event of a tie. The appointees hold office from the date of the resolution appointing them up to the date of the first committee meeting to be held after the next Annual General Meeting (AGM).
New members of the committee are also elected by majority vote at a meeting following public advertisements. Suggestions for candidates are submitted to the Chairperson, and a brief CV of potential candidates is circulated to the current members in advance of the meeting where the vote is held.
## **c. Financial risk management**
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Members' liability**
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **C A G Pickton**
(Vice Chair of Trustees)
Date: 13 October 2023
Page 7
**(A Company Limited by Guarantee)**
## **CASP**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2023**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
## **C A G Pickton**
Date: 13 October 2023
Page 8
**(A Company Limited by Guarantee)**
## **CASP**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2023**
## **Independent Examiner's Report to the Trustees of CASP ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 January 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Hannah Wisbey
Dated: 17 October 2023 ACA
## **Whitings LLP**
Raleigh House 14C Compass Point Business Park Stocks Bridge Way St Ives Cambridgeshire PE27 5JL
Page 9
**(A Company Limited by Guarantee)**
## **CASP**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2023**
|**Note**
**Income from:**
Charitable activities
3
Investments
4
Other income
5
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
7
**Total expenditure**
**Net expenditure before net (losses)/gains on**
**investments**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**16,200**
**99,155**
**-**
**115,355**
**28,994**
**1,285,913**
**1,314,907**
**(1,199,552)**
**(659,961)**
**(1,859,513)**
**7,983,666**
**(1,859,513)**
**6,124,153**|**Total**
**funds**
**2023**
**£**
**16,200**
**99,155**
**-**
**115,355**
**28,994**
**1,285,913**
**1,314,907**
**(1,199,552)**
**(659,961)**
**(1,859,513)**
**7,983,666**
**(1,859,513)**
**6,124,153**|_Total_
_funds_
_2022_
_£_
_307,313_
_88,839_
_8,353_
_404,505_
_41,480_
_1,390,030_
_1,431,510_
_(1,027,005)_
_123,778_
_(903,227)_
_8,886,893_
_(903,227)_
_7,983,666_|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 34 form part of these financial statements.
Page 10
## **CASP (A Company Limited by Guarantee) REGISTERED NUMBER: 02210675**
## **BALANCE SHEET AS AT 31 JANUARY 2023**
|**Note**
**Fixed assets**
Intangible assets
12
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
18
Unrestricted funds
18
**Total funds**|**327,500**
**97,789**
**425,289**
**(75,118)**|**2023**
**£**
**29,504**
**194,621**
**5,549,856**
**5,773,981**
**350,171**
**6,124,152**
**6,124,152**
**6,124,152**
**-**
**6,124,152**
**6,124,152**|_423,535_
_99,974_
_523,509_
_(146,331)_|_2022_
_£_
_38,504_
_233,222_
_7,334,762_|
|---|---|---|---|---|
|||||_7,606,488_
_377,178_|
|||||_7,983,666_|
|||||_7,983,666_|
||||||
|||||_7,983,666_|
|||||_-_
_7,983,666_|
||||||
|||||_7,983,666_|
Page 11
# **CASP**
**(A Company Limited by Guarantee) REGISTERED NUMBER: 02210675**
# **BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2023**
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **C A G Pickton**
Date: 13 October 2023
The notes on pages 14 to 34 form part of these financial statements.
Page 12
**CASP**
**(A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2023**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of intangible assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
**Net cash (used in)/provided by investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 14 to 34 form part of these financial statements|**2023**
**£**
**(1,214,273)**
**99,155**
**-**
**(12,012)**
**2,918,640**
**(3,108,158)**
**(102,375)**
**-**
**(1,316,648)**
**2,410,024**
**1,093,376**|_2022_
_£_
_(1,034,210)_
_88,839_
_(4,559)_
_(145,432)_
_6,903,936_
_(4,098,535)_
**2,744,249**
**-**
**1,710,039**
_699,985_
_2,410,024_|
|---|---|---|
Page 13
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **1. General information**
CASP is a private company, limited by guarantee, registered in England and Wales. The company registered number and registered charity number can be found on the Company Information page.
The company's registered office and trading addresses can also be found on the Company Information page.
The financial statements have been prepared in sterling, which is the functional currency of the charity.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
CASP meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The financial statements have been prepared on a going concern basis, as deemed appropriate by the Trustees. Due to the reduction in operating income as a result of COVID-19 pandemic and therefore financial strain on customers and its diversification programme outlined in the Trustees Report , CASP is currently utilising cash reserves held in the investment portfolio to support their expenditure throughout this period. Senior management continue to keep costs under control and minimise these where possible, until such time that operational income restores to previously experienced levels.
## **2.3 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Due to the reduction in operating income as a result of COVID-19 pandemic and therefore financial strain on customers and its diversification programme outlined in the Trustees Report , CASP is currently utilising cash reserves held in the investment portfolio to support their expenditure throughout this period. Senior management continue to keep costs under control and minimise these where possible, until such time that operational income restores to previously achieved levels.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 14
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred.
## **2.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.7 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
Page 15
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **2. Accounting policies (continued)**
## **2.8 Intangible assets and amortisation**
Intangible assets costing £300 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Intangible assets recognised at the balance sheet date are under construction. Amortisation on fixed assets under construction is not recognised until such that that construction is complete and the asset is readily available for use.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is not provided on intangible fixed assets under construction.
Computer Software - 20 % Straight line
## **2.9 Tangible fixed assets and depreciation**
Tangible fixed assets costing £300 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
|Plant and machinery|-|20% Straight line|
|---|---|---|
|Plant and machinery|-|33% Straight line|
|Improvements to property|-|2% Straight line|
## **2.10 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
## **2.11 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 16
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **2. Accounting policies (continued)**
## **2.12 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.13 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.14 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.15 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
## **2.16 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 17
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2023**
**£**
Subscription income
16,200
Extra workshops
-
**Total 2023**
16,200
_Unrestricted_
_funds_
_2022_
_£_
Subscription income
_215,464_
Extra workshops
_91,849_
_307,313_
**Investment income**
**Unrestricted**
**funds**
**2023**
**£**
Income from listed investments
97,247
Investment income - local cash
1,908
99,155
_Unrestricted_
_funds_
_2022_
_£_
Income from listed investments
_88,839_|**Total**
**funds**
**2023**
**£**
**16,200**
**-**|
|---|---|
||**16,200**|
||_Total_
_funds_
_2022_
_£_
_215,464_
_91,849_|
||_307,313_|
||**Total**
**funds**
**2023**
**£**
**97,247**
**1,908**|
||**99,155**|
||_Total_
_funds_
_2022_
_£_
_88,839_|
## **4. Investment income**
Page 18
## **CASP**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **5. Other incoming resources**
|Government grant income
_Unrestricted_
_funds_
_2022_
_£_
Government grant income
_8,353_
**Investment management costs**
**Unrestricted**
**funds**
**2023**
**£**
Portfolio management fees
28,994
_Unrestricted_
_funds_
_2022_
_£_
Portfolio management fees
_41,480_|**Total**
**funds**
**2023**
**£**
**-**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_8,353_|
||**Total**
**funds**
**2023**
**£**
**28,994**|
||_Total_
_funds_
_2022_
_£_
_41,480_|
## **6. Investment management costs**
Page 19
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2023**
**£**
Staff costs
915,454
Statutory accountancy fees
4,935
Exploration & fieldwork
46,210
Library services
634
Other office costs
173,050
Scientific Advisory Board expenses
3,703
Promotion & publicity
340
Staff training
16,581
Research activities
125,006
1,285,913
_Unrestricted_
_funds_
_2022_
_£_
Legal & professional costs
_1,480_
Staff costs
_1,082,989_
Statutory accountancy fees
_5,763_
Exploration & fieldwork
_10,845_
Library services
_572_
Other office costs
_157,184_
Promotion & publicity
_6,324_
Staff training
_5,000_
Research activities
_119,873_
_1,390,030_|**Total**
**2023**
**£**
**915,454**
**4,935**
**46,210**
**634**
**173,050**
**3,703**
**340**
**16,581**
**125,006**|
|---|---|
||**1,285,913**|
||_Total_
_2022_
_£_
_1,480_
_1,082,989_
_5,763_
_10,845_
_572_
_157,184_
_6,324_
_5,000_
_119,873_|
||_1,390,030_|
Page 20
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **8. Analysis of expenditure by activities**
|Staff costs
Accountancy & audit fees
Exploration & fieldwork
Library services
Other office costs
Scientific Advisory Board expenses
Promotion and publicity
Staff training
Research activities
**Total 2023**|**Activities**
**undertaken**
**directly**
**2023**
**£**
488,507
4,935
46,210
634
-
-
-
16,581
125,007
681,874|**Support**
**costs**
**2023**
**£**
426,947
-
-
-
173,050
3,703
340
-
-
604,040|**Total**
**funds**
**2023**
**£**
**915,454**
**4,935**
**46,210**
**634**
**173,050**
**3,703**
**340**
**16,581**
**125,007**|
|---|---|---|---|
||||**1,285,913**|
|Legal & professional costs
Staff costs
Accountancy & audit fees
Exploration & fieldwork
Library services
Other office costs
Promotion and publicity
Staff training
Research activities|_Activities_
_undertaken_
_directly_
_2022_
_£_
_1,480_
_654,649_
_5,763_
_10,845_
_572_
_-_
_-_
_5,000_
_119,873_
_798,182_|_Support_
_costs_
_2022_
_£_
_-_
_428,340_
_-_
_-_
_-_
_157,184_
_6,324_
_-_
_-_
_591,848_|_Total_
_funds_
_2022_
_£_
_1,480_
_1,082,989_
_5,763_
_10,845_
_572_
_157,184_
_6,324_
_5,000_
_119,873_|
|---|---|---|---|
||||_1,390,030_|
Page 21
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **9. Independent examiner's remuneration**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Company's independent examiner for the independent|||
|examination/audit of the Company's annual accounts|**2,970**|_4,515_|
|Fees payable to the Company's independent examiner in respect of:|||
|All other services not included above|**690**|_645_|
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2023**
**£**
**666,508**
**60,490**
**188,456**
**915,454**|_2022_
_£_
_797,268_
_84,250_
_201,471_|
|---|---|---|
||||
|||_1,082,989_|
The average number of persons employed by the Company during the year was as follows:
|Research services
Management and administration
Technical services|**2023**
**No.**
**9**
**5**
**2**
**16**|_2022_
_No._
_15_
_5_
_3_|
|---|---|---|
||||
|||_23_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**2023**|_2022_|
|---|---|---|---|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**2**|_2_|
During the year, defined pension contributions on behalf of these members of staff amounted to £46,126 (2022: £34,288). Remuneration and benefits received by key management personnel in the year were £290,562 (2022: £275,853).
Page 22
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 January 2023, expenses totalling _£_ 2,285 were reimbursed or paid directly to 6 Trustees (2022 - £Nil reimbursed).
Expenses reimbursed to Trustees were in relation to COM travel expenses.
## **12. Intangible assets**
|**Cost**
At 1 February 2022
At 31 January 2023
**Amortisation**
At 1 February 2022
Charge for the year
At 31 January 2023
**Net book value**
At 31 January 2023
_At 31 January 2022_|**Computer**
**software**
**£**
**45,254**|
|---|---|
||**45,254**|
||**6,750**
**9,000**|
||**15,750**|
||**29,504**|
||_38,504_|
Page 23
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **13. Tangible fixed assets**
|**Cost or valuation**
At 1 February 2022
Additions
Disposals
At 31 January 2023
**Depreciation**
At 1 February 2022
Charge for the year
On disposals
At 31 January 2023
**Net book value**
At 31 January 2023
_At 31 January 2022_|**Plant and**
**machinery**
**£**
**301,058**
**9,046**
**(41,918)**
**268,186**
**137,058**
**46,202**
**(41,918)**
**141,342**
**126,844**
_164,000_|**Fixtures and**
**fittings**
**£**
**118,875**
**2,966**
**-**
**121,841**
**49,653**
**4,411**
**-**
**54,064**
**67,777**
_69,222_|**Total**
**£**
**419,933**
**12,012**
**(41,918)**
**390,027**
**186,711**
**50,613**
**(41,918)**
**195,406**
**194,621**
_233,222_|
|---|---|---|---|
Page 24
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **14. Fixed asset investments**
|**Cost or valuation**
At 1 February 2022
Additions
Disposals
Revaluations
Transfers between classes
At 31 January 2023
**Net book value**
At 31 January 2023
_At 31 January 2022_
**Debtors**
**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**2023**
**£**
**-**
**14,161**
**313,339**
**327,500**|**Listed**
**investments**
**£**
**7,334,762**
**3,108,156**
**(2,918,640)**
**(659,961)**
**(1,314,462)**
**5,549,856**
**5,549,856**
_7,334,762_
_2022_
_£_
_42,250_
_30,195_
_351,090_
_423,535_|
|---|---|---|
## **15. Debtors**
Page 25
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **16. Creditors: Amounts falling due within one year**
|Taxes and social security
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
**17,740**
**6,276**
**11,312**
**39,790**
**75,118**|_2022_
_£_
_17,017_
_58,672_
_226_
_70,416_|
|---|---|---|
||||
|||_146,331_|
## **17. Financial instruments**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**97,789**|_99,974_|
Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand and the value of the investment portfolio at the reporting date.
Page 26
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **18. Statement of funds**
## **Statement of funds - current year**
|||**Balance at**|**1**|||||**Balance at**|
|---|---|---|---|---|---|---|---|---|
|||**February**||||**Transfers**|**Gains/**|**31 January**|
|||**2022**||**Income**|**Expenditure**|**in/out**|**(Losses)**|**2023**|
||||**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted**|||||||||
|**funds**|||||||||
|**Designated**|||||||||
|**funds**|||||||||
|Black Sea||**162,809**||**-**|**(107,717)**|**-**|**-**|**55,092**|
|Data Collection||**-**||**-**|**(44,745)**|**-**|**-**|**(44,745)**|
|Greenland||**(63,455)**||**-**|**-**|**-**|**-**|**(63,455)**|
|NW Black Sea||**(1,688)**||**-**|**-**|**-**|**-**|**(1,688)**|
|Flood|Basalt||||||||
|(Volcanic|||||||||
|Basins)||**(62,776)**||**-**|**(52,592)**|**-**|**-**|**(115,368)**|
|South|Caspian||||||||
|Prov Study 2||**-**||**-**|**(9,272)**|**-**|**-**|**(9,272)**|
|Barents Shelf||**(31,907)**||**-**|**(38,692)**|**-**|**-**|**(70,599)**|
|Paratethyan|||||||||
|Stratigraphy|||||||||
|Project 2||**-**||**-**|**(2,434)**|**-**|**-**|**(2,434)**|
|SEM||**-**||**200**|**(2,798)**|**-**|**-**|**(2,598)**|
|North Atlantic|||||||||
|Margins||**-**||**-**|**(6,948)**|**-**|**-**|**(6,948)**|
|Bunter||**(12,961)**||**-**|**(160,229)**|**-**|**-**|**(173,190)**|
|Impact of|||||||||
|Volcaniclastic|||||||||
|rocks on CO2|||||||||
|stores||**(1,785)**||**-**|**(8,197)**|**-**|**-**|**(9,982)**|
|Dinarides||**(256,737)**||**-**|**(11,254)**|**-**|**-**|**(267,991)**|
|Paratethyan|||||||||
|Stratigraphy|||||||||
|Project||**197,253**||**-**|**(2,771)**|**-**|**-**|**194,482**|
|Greater Caspian|||||||||
|Provenance|||||||||
|Project||**-**||**-**|**(3,190)**|**-**|**-**|**(3,190)**|
|Uralian|||||||||
|Provenance|||||||||
|project||**-**||**-**|**(13,838)**|**-**|**-**|**(13,838)**|
|Critical Minerals|||||||||
|project||**(17,204)**||**-**|**(15,253)**|**-**|**-**|**(32,457)**|
|Mudrock Seals|||||||||
|project||**(22,507)**||**-**|**(120,129)**|**-**|**-**|**(142,636)**|
Page 27
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **18. Statement of funds (continued)**
## **Statement of funds - current year (continued)**
|New project
development
and charitable
expenses
Reactions and
flow project
**General funds**
Strategic reserve
Investment
reserve
Building
improvement
reserve
**Total**
**Unrestricted**
**funds**|**(39,551)**
**(24,654)**
**(175,163)**
**3,406,467**
**643,206**
**4,109,156**
**8,158,829**
**7,983,666**|**Balance at 1**
**February**
**2022**
**£**
**-**
**-**
**200**
**16,000**
**-**
**99,155**
**115,155**
**115,355**|**Income**
**£**
**(98,483)**
**(33,261)**
**(731,803)**
**(267,066)**
**-**
**(316,039)**
**(583,105)**
**(1,314,908)**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**-**
**(659,961)**
**(659,961)**
**(659,961)**|**Balance at**
**31 January**
**2023**
**£**
**(138,034)**
**(57,915)**
**(906,766)**
**3,155,401**
**643,206**
**3,232,311**
**7,030,918**
**6,124,152**|
|---|---|---|---|---|---|---|
Page 28
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **18. Statement of funds (continued)**
## **Statement of funds - prior year**
|||_Balance_|_at_|||||_Balance at_|
|---|---|---|---|---|---|---|---|---|
|||_1 February_||||_Transfers_|_Gains/_|_31 January_|
|||_2021_||_Income_|_Expenditure_|_in/out_|_(Losses)_|_2022_|
||||_£_|_£_|_£_|_£_|_£_|_£_|
|**Unrestricted**|||||||||
|**funds**|||||||||
|**Designated**|||||||||
|**funds**|||||||||
|Black Sea||_195,797_||_25,630_|_(58,618)_|_-_|_-_|_162,809_|
|Data Collection||_-_||_-_|_(71,056)_|_71,056_|_-_|_-_|
|Greenland||_(35,524)_||_-_|_(27,931)_|_-_|_-_|_(63,455)_|
|NW Black Sea||_-_||_-_|_(1,688)_|_-_|_-_|_(1,688)_|
|Flood|Basalt||||||||
|(Volcanic|||||||||
|Basins)||_(20,711)_||_48,896_|_(90,961)_|_-_|_-_|_(62,776)_|
|South|Caspian||||||||
|Prov Study 2||_-_||_-_|_(3,782)_|_3,782_|_-_|_-_|
|Barents Shelf||_87,575_||_-_|_(119,482)_|_-_|_-_|_(31,907)_|
|Circum Arctic||_119,221_||_-_|_-_|_(119,221)_|_-_|_-_|
|SEM||_(462,452)_||_-_|_(21,886)_|_484,338_|_-_|_-_|
|North Atlantic|||||||||
|Margins||_(461,908)_||_-_|_(60,714)_|_522,622_|_-_|_-_|
|Bunter||_-_||_-_|_(12,961)_|_-_|_-_|_(12,961)_|
|Impact of|||||||||
|Volcaniclastic|||||||||
|rocks on CO2|||||||||
|stores||_-_||_-_|_(1,785)_|_-_|_-_|_(1,785)_|
|Dinarides||_(247,314)_||_49,841_|_(59,264)_|_-_|_-_|_(256,737)_|
|Paratethyan|||||||||
|Stratigraphy|||||||||
|Project||_205,560_||_91,848_|_(100,156)_|_-_|_-_|_197,252_|
|Greater Caspian|||||||||
|Provenance|||||||||
|Project||_(50,700)_||_3,900_|_(78)_|_46,878_|_-_|_-_|
|Uralian|||||||||
|Provenance|||||||||
|project||_(222,879)_||_25,610_|_(49,354)_|_246,623_|_-_|_-_|
|Critical Minerals|||||||||
|project||_-_||_-_|_(17,204)_|_-_|_-_|_(17,204)_|
|Mudrock Seals|||||||||
|project||_-_||_-_|_(22,507)_|_-_|_-_|_(22,507)_|
Page 29
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **18. Statement of funds (continued)**
## **Statement of funds - prior year (continued)**
|New project
development
and charitable
expenses
Reactions and
flow project
**General funds**
Strategic reserve
Investment
reserve
Building
improvement
reserve
**Total**
**Unrestricted**
**funds**|_Balance at_
_1 February_
_2021_
_£_
_(37,335)_
_-_
_(930,670)_
_4,920,735_
_4,253,622_
_643,206_
_9,817,563_
_8,886,893_|_Income_
_£_
_-_
_-_
_245,725_
_209,541_
_88,839_
_-_
_298,380_
_544,105_|_Expenditure_
_£_
_(83,404)_
_(24,654)_
_(827,485)_
_(386,543)_
_(357,082)_
_-_
_(743,625)_
_(1,571,110)_|_Transfers_
_in/out_
_£_
_81,188_
_-_
_1,337,266_
_(1,337,266)_
_-_
_-_
_(1,337,266)_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_-_
_123,778_
_-_
_123,778_
_123,778_|_Balance at_
_31 January_
_2022_
_£_
_(39,551)_
_(24,654)_
_(175,164)_
_3,406,467_
_4,109,157_
_643,206_
_8,158,830_
_7,983,666_|
|---|---|---|---|---|---|---|
Page 30
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **19. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds|Designated funds
General funds|**Balance at 1**
**February**
**2022**
**£**
**(175,163)**
**8,158,829**
**7,983,666**
_Income_
_£_
_245,725_
_298,380_
_544,105_|**Income**
**£**
**200**
**115,155**
**115,355**
_Expenditure_
_£_
_(827,485)_
_(743,625)_
_(1,571,110)_|**Expenditure**
**£**
**(731,803)**
**(583,105)**
**(1,314,908)**
_Transfers_
_in/out_
_£_
_1,337,266_
_(1,337,266)_
_-_|**Gains/**
**(Losses)**
**£**
**-**
**(659,961)**
**(659,961)**
_Gains/_
_(Losses)_
_£_
_-_
_123,778_
_123,778_|**Balance at**
**31 January**
**2023**
**£**
**(906,766)**
**7,030,918**
**6,124,152**
_Balance at_
_31 January_
_2022_
_£_
_(175,164)_
_8,158,830_
_7,983,666_|
|---|---|---|---|---|---|---|
|**Summary of funds - prior year**|||||||
|Designated
funds
General funds|_Balance at_
_1 February_
_2021_
_£_
_(930,670)_
_9,817,563_
_8,886,893_||||||
## **20. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Tangible fixed assets
194,621
Intangible fixed assets
29,504
Fixed asset investments
5,549,856
Current assets
425,289
Creditors due within one year
(75,118)
**Total**
6,124,152|**Total**
**funds**
**2023**
**£**
**194,621**
**29,504**
**5,549,856**
**425,289**
**(75,118)**
**6,124,152**|
|---|---|
Page 31
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **20. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Endowment_
_funds_
_2022_
_£_
_233,222_
_38,504_
_7,334,762_
_523,509_
_(146,331)_
_7,983,666_|_Unrestricted_
_funds_
_2022_
_£_
_-_
_-_
_-_
_-_
_-_
_-_|_Total_
_funds_
_2022_
_£_
_233,222_
_38,504_
_7,334,762_
_523,509_
_(146,331)_
_7,983,666_|
|---|---|---|---|
## **21. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net expenditure for the year (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation/amortisation charges
(Gains)/Losses on investments
Dividends, interests and rents from investments
Decrease in stocks
Decrease in debtors
Decrease in creditors
**Net cash used in operating activities**|**2023**
**£**
**(1,859,513)**
**59,613**
**659,961**
**(99,155)**
**-**
**96,035**
**(71,214)**
**(1,214,273)**|_2022_
_£_
_(903,227)_
_45,394_
_(123,778)_
_(88,839)_
_2,285_
_268,790_
_(234,835)_
_(1,034,210)_|
|---|---|---|
Page 32
**(A Company Limited by Guarantee)**
## **CASP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **22. Analysis of cash and cash equivalents**
|Cash in hand
Cash held in investment wrapper
**Total cash and cash equivalents**|**2023**
**£**
**97,789**
**995,587**
**1,093,376**|_2022_
_£_
_99,974_
_2,310,050_|
|---|---|---|
||||
|||_2,410,024_|
## **23. Analysis of changes in net debt**
|**At 1**
**February**
**2022**
**£**
Cash at bank and in hand
**99,974**
Debt due within 1 year
**(17,017)**
**82,957**
**Capital commitments**
**Contracted for but not provided in these financial statements**
Acquisition of tangible assets|**Cash flows**
**£**
**(2,185)**
**(723)**
**(2,908)**
**2023**
**£**
**22,341**|**At 31**
**January**
**2023**
**£**
**97,789**
**(17,740)**|
|---|---|---|
|||**80,049**|
|||_2022_
_£_
_-_|
## **24. Capital commitments**
## **25. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £188,456 (2022 - £201,471). Contributions of £4,175 (2022 - £12,191) were payable to the fund at the balance sheet date and are included in creditors.
Page 33
**CASP**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023**
## **26. Operating lease commitments**
At 31 January 2023 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2023**
**£**
**5,640**
**2,820**
**8,460**|_2022_
_£_
_2,698_
_-_|
|---|---|---|
||||
|||_2,698_|
## **27. Members' liability**
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before they cease to be a member.
## **28. Related party transactions**
The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 January 2023.
Page 34