Registered number- 02210675 Charity number.. 298729 CASP (A Company Llmlted by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
CASP (A Company Limited by Guarantee} CONTENTS Page Reference and Admlnlstratlve Detalls of the Charltable company, Its Trustee$ and Advisers Trustees. Report Tru$ts¢$' R•spon$lbllltlo$ Stst•ment Independent Audltors. Report on the Financlal Statements 8-11 Statamant of Flnanelal Aetivltl 12 Balanc• Sh¢tt 13-14 Notes to the Flnanclal Statem•nts 15.34
CASP (A Company Limited by Guar*ntee} REFERENCE AND ADMINISTRATIVE DAlLs OF THE CHARITABLE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2024 Tru$t¢•$ A Buckley, PhD (resigned 1 March 20231 S A Gibson. Pho J P P Hirst. PhD. Chair Iresigned as Chair 11 October 20241 J A Howell, PhD S J Kape, PhD B K Levell, PhD J E A Marsh811. PhD. Chair lappoinled 8$ Chair 11 October 20241 S H Molyneux G J Nichols, Pho C A G Pickton. MA D W Waters, PhD M J Whileley, PhD Company règl8tèr•d number 02210675 Charlty r¢glstsred numb8r 298729 RegS8tered offlce Raleigh Housè 14C Compass Point Business Park Sl Ives Cambridgeshire PE27 5JL Princlpal operatlng offlce Wesl Building Madingley Rise, Madingley Road Cambridge Cambrid9eshire CB3 OUD Company s•cretary J E A Marshall, PhD (resigned 11 October 20241 S J Kape, PHD lappointed 11 Oclober 20241 Chairman J P P Hirst. PhD Iresigned 11 October 20241 J E A Marshall, PhD lappoinl8d 11 October 2024 Ind8p8nd8nt audltors Whitings LLP Greenwwd House Greenwood Court Sklner Way Bury Sl Edwnunds Suffolk IP32 7GY Investment Advisors Cantab Asset Managemenl 50 Slalion Road Cambridge Cambridgèshire CB12JH Page 1
CASP (A Company Limited by Guar*ntee} TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The Trustees present their annual repK)rt together with the audited financial stslements of Charitable company for the period 1 February 2023 to 31 January 2024. The Annual Report serves the purposes of both a Trustees, report and a dirèctors, report undèr company law. The Trustèes confirm that the Annual Report and financial ststemenls of the charitable company comply with the currenl statutory requirements, the reqLJirements of the charitable companys governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their acLx)unts in acrL)rdance with the Finanaal Reportin9 Standard applicable in the UK and Republic of Irelan(J IFRS1021 leffecb.ve 1 January 20191. Since the charitable company qualifies as small under tIOn 382 of the Companies Act 2006, the Strategi Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. Obl•ctlv•s and actlvltlo$ a. Pollcl•$ and obJ•¢tlv•s CASP'S objectives are lo conduct research into Ihe geology of sedimentary basins of the worfd and to present and publish the results of such research for the advancement of public education. CASP maintains ongoin9 research projects while developing new research areas and tr8ining young scienlisls. In setting objectives and planning for acb'vilies, the Trustees have given due consideration to general guidanca published by the Charity Commission relating to public benefil. induding Ihe guidance 'Public benefit.. running a charity IP821'. b. Slralegl•$ for 4¢hl•vlng oble¢tlv•$ To achieve objectives, il is impK)rtant to maintain sufficient reserves and raise enough InMe to continue medium and long lemi research projects and open new research areas. Subscriptions r8C8IV8d from industry allow CASP to conduct its gaological resaarch and achi8v8 its charitablg objectives. During the TepNJrting year, four cownpanie5 SUPPOrted CASP's research. Page 2
CASP (A Company Limited by Guar*ntee} TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2024 Objectives and activities Icontinuedl ¢. Actlvltlès und•rtak•n to achlèvè obJ•ctlvos Promotion Promob'onal work was carried out throughout the ar in order to raise money. Elevtrn scientific workshops and seminars We organised to give CASP'S geologisis Ihe oprM)rtunity lo present their current research to the subscribing and potenb'ally subscfibing companies. They were also able to discuss with them the funding of future research. CASP'S rès8ar¢h was also promoted through th8 following m6ans- Mailings of project flyers targeled al different exploration groups.. Regular updates on project development sent to potential subscribers; Presentation by CASP geologists al academic conferences.. Coordinated series of promotional posts for new research projects using Linkedln. The CASP Website provides an easy and fast way of searching for rertS and publications by rese8rch areas. The list contains reports produce(I by CASP over the last 45 years. In addition, the Home page lists the three lalesl reports and Ihrg9 lalesl publications as a Yged" for aulomatsc download. The Wgbsile pages describing current research and activities are updated regulady. CASP also operat8s an official Linkedln and X account lo highlyht the release of latast reports. news and activities. Publications Every month, d8y3 are set aside to allow geologists to prepare scientific papers for publication ol the results of their research. The Website search facility for publications provides a link to a¢¢ess the publItiOn at the publisher's website. Extracts of the papers are available on the CASP Website. Training Confgrences and meetings are goo(1 platfomis for exchanging scignlific ideas an¢J for promoting CASP bul they also play an important role in the training of CASP stsff. Most COnfereS offor courses and field studies, and CASP geologists have received further training by aitendiThJ them. Opportunities are given lo undergraduates. Msc arKI PhD students to join CASP 5tsff in field or laboratory sellings lo further their research and train in field geology.. CASP also provides rock samples lo undergraduates to carry out analyses as part of their course projects. Geologists join University field parties lo sh8re their knowledge and expertise with students in the field. Scholarship and grants CASP is fijnding hvo CASE studer)ts. one al the University of Cambridge and one at the Imperial College London. CASP awards a gedogi¢al fieldwork grant. to the sum of approximately £10,000 per annum, to be shared between up to 5 reapients. The awards are made to encourage field-based research related to the low carbon energy transition. The relevancetinlerest is judged by a panel of Trustees. Page 3
CASP (A Company Limited by Guarntee} TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2024 Objectives and activities Icontinuedl d. Maln actlvltl•s und•rtak•n to lurth•r tho Charltab Company's purposès for thè publle b•n•flt Members of CASP as Charity Trustees are of the opinion that they have complied with their obligations in regard to the public benefit guitlance as published by the Charity Commission. CASP'S principal objeth.ve continues lo be Ihg advan¢emenl of geological research. and production of articles detailing their findings, which are later made available lor public use for the advancemenl ol education. è. Rlsk management The Tru$tee$ 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 Ihal SleMS and procedures are in place lo mitigate our exposure to the major risks. f. Health and safety The Trustees have assesseij the major risks to which CASPS employees and associates 8re exposed, in particular those related lo the fielrk acbvilies. and have reviewed the Health and Safely policy and Risk Assessmgnl System in place. A¢hlevèment# and rfOrman¢t a. Maln •¢hlgvom•nts of the ¢harltsblo ¢ompany Completion of one project an(J futu developments Conlinuing research in fourteen projects New development and research in carbon storage projects Production of 4 geological reports Publishing 0119 academic papers, either firsl aulhor or co-authored Presentation of CASP research al International Conferences Staff involvement in the supervision of six PhD students Successful 8pplicabon io UKRI lo become an Indepen¢Jent Researc Organisalion b. Key perfomianco Indlcators The production of 4 high quality retK>rts The publishing of 19 high quality publications Discussions with intemational companies inlerested in CASP research Financial review a. Golng concem After making appropriate enquiries. the Tnjstees have a reasonable expectstion that the charitable wmpany has adequate resources to contsnue in operatK>nal existen for the foreseeable luture. For this reason, they continue to adopt the going concem basis in preparing the financial stalements. Further details regarding the adoption of the going concem basis can be found in the accounting w)liaes. Page 4
CASP (A Company Limited by Guarntee} TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2024 b. Reserves policy CASP aims to maintain a level of strategic reserves so as to be less dependent on the ups and downs of ils 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 cofflplele or significant loss ol income from sponsors. the slr8legi¢ reserves m8y be accessed lo ensure the Continued ftjndioning lo the charity. A¢¢ess lo Ihe strategic reseNes will be by agrtrement ol th& Trusletss who will advise ol any further actions as a resull of the duCtion of Ihe serVeS. The plan should take inlo a¢¢ounl adjLJStments to project activities and staff establishment to reflect the income stream. Free reserve5 available for use by CASP are deemed lo be those that are readily realisable. less funds whose uses are restricted or designaled for a particular purpose. The calculation therefore exdudes propèrty and other flxed assets whi¢h CASP use in the d811>(Jay running ol the ()arity. As a matter of policy, each year CASP reviews ihe value ol the reserves required lo be held in investments, cash and cash equivalents not restricted or desnated for any particular purpose. The broad target of the Trustees is to retain sufficient free reserves lo enable the charity lo continue ts aclivi118S for a reasonable period of lime. should there ever be a significant fall in incoming resources. c. Flnanclal Sk8 The Charitys activities expose il lo a number ol financial risks incluéing credit risk, cash flow risk and liquidity rfsk. The use ol financial dgrivalives is govgmed by the charity's policies approved by Ihg board ol Iruslg9S, which provide written principles on the use of finanaal derivative$ to manage thes¢ risks. The charity does not use derivative financAal inslrumenis lor sp8culaknve PLbrposes. Cash flow risk The Charity's ath'vilies expose il primarily lo Ihe financial risks of changes in fOIgn Currency exchange rates 8nd interest rates. Interest bearing assets and liabilitses are held al fixed rate to ensure cgrtainty of cash flows. Credit risk The Charills principal financial a5se15 are bank balances and cash, trade and other receivables, and investments. The Charitls Credit risk is primarily attributable to its trade receivables. The amounts presented in the ba1an¢e sheet are net ol allowances for doubtful CeIvables. An allowance for impairment is made where there is an identified loss event which, based on previous experien. is evidence of a reduction in the recoverability of the cash flows. The ¢redrt risk on liquid funds and derivab.ve finanaal instruments is limited tse the counlerp8rties are banks with high credit-ratings assigned by intemalional cedit-rating agencies. The Charity has no significant concentration of credil risk. wth exposure spread over a large number of counterparties and customers. Further details regarding liquidty risk can be f¢xJnd in the going concem accounting policy. Page 5
CASP (A Company Limited by Guarntee} TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2024 Structure, governance and management a. Constitution The Charity is in¢orporat8d under the Companies Acl as a d)aritable company limited by guarant88 and is accordingly governed by its Memorandum and Articles ol Association. The members of CASP have each guaranteed liabililies of up to £1. In addition. CASP is also a registered charity and subject to the regulation of the Charity Commission. Th& princip81 activity of the Charity during the ye8r continued to be the advancement of educatton for the publlc benefit by conducting research into the geology ol sedimentary basins of the world and the publication of the results of such reso8rch. There have been no changes in the objectives since the last annual report. b. Methods of appolntmont ¢y el•dlon of Tw$t¢•$ The Committee of Management {COM} is a eommittee eonsisting of up lo 12 Iruslees. who are eaeh appointed 89 direclorg ol the Charity for the purposes of the Companies Act. The COM elects a Chairperson and Vice Ch8irperson from among ils members. This election is by majonty vote al any meeting, with nominab'ons submi11gd in writing lo th8 Company Secretary not less than 7 working days prior lo Ihal meeting. The currgnl 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 dale ol th8 first committee meeknr¥J to be held after the next Annual General Meeting IAGMI New members of the committee are 81s0 elected by majority vole al a meeting following public advertisements. Suggeslions for candidates a submitted lo the Chairperson. and a brief CV of wt8nlial candid81es is clrcu181ed to the current rnembers in advance of the meeting where Ihe vole is held. Dl$¢lo$urn of Informatlon to audltors Each of tha p8rsons who are Trustaes at th8 time when this Trustees. Report is approvod has confirmad that.. so far as that Trustee is aware. Ihere is no relevant audit infom)ation of which the charitys auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Twstge in order to be aware of any relevant audit information and lo establish Ihat the charitys auditors are aware ol that information. Auditors The auditors, Whitings LLP, have indicated iheir wllingness lo conlinue in oifice. The designated Trustees will propose a motion reappointing the auditors al a meeting of the Trustees. Approved by order of the members of the t)ard of Tnjstees and signed on their behalf by.. J E A Marshall. PhD (Chair ol Trustees) Dale.. 2811112024 Page 6
CASP (A Company Limited by Guar*ntee} STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2024 The Trustees (who are also the direrto of the charilable company for the purposes of Company lawl ar8 sponsible for preparing the Trustees, Report and the financial ststements irh accordanGe with applicable 18W and Unitsd Kingdom A¢¢ounting Standards (United Kingdom GÈnwally Accèpted A¢¢ounting Practi¢el. Company law requires the Trustees lo prepare financial ststements for each financial year. Under company law, the Trustees must not approve the financial stslements unless they are $8b"sfied that they give a true and fair view of the stale of affairs of the charitable MpanY and of its incoming resources and appli¢alion of resour¢gS. including ils income and expènditure. for thal wrKxl. In preparing these financial s¢at8menls, the Trustees are required to.. select suitable accounting rx)liaes and then apply Ihem consislenlly.. observe the methods and principles of the Charities SORP 2019 IFRS 1021.. make judgments and accounting eslimales Ihal are reasonable and prudent.. state whether applicable UK Accounting Siandards IFRS 1021 have been followed.. prepare the financial statements on the going cL)ncem basis unless il is inappropriate lo presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records thal are sufficient to show and explain the charitable companls transactions and disclose with reasonable accuracy at any time the financial position of the charitable cornpany and enable them to ensure Ihal the financial statemen15 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charrtable company 8ntl hence for taking ason8ble steps for the prevention and detection ol fraud and other irregularities. Approved by order of Ihe members of the board of Trustees and syned on its behall by. J E A Marshall, PhD (Chair ol Trusleesl Date.. 2811112024 Page 7
CASP (A Company Limited by Guarntee} INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CASP Opinion We have audited the financial statements of CASP (the 'charitable companll for the year ended 31 January 2024 which comprise the Slatemenl of Financial Aclivilies, the Balance Sheet, and the related notes, including a summary of significant accounting polirjes. The financial reph)rting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slanijards, including Financial Reporting Standard 102 'The Fin8n¢ial Reporting Stsndard appliGable in the UK and Republic of Ireland, (United Kingdom Gener811y A¢¢epled Accotjnling Practscel- In our opinion the financial slalements.. give a true and fair view of the state of the charitable cLJmpanls affairs as at 31 January 2024 and of ils inming resources and applicab'on of resources. induding its income and expendlture for the year than èndèd., have been property prepared in accordanca United Kingdom Generally Accepted Accounting Practice,. and have been prepared in amydance wlh the requirements of the Charities Act 2011. 8818 for oplnlon We conducted our audil in accordance wilh Intemational Slandards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under (hose slandards are luriher described in Ihe Auditors, responsibilitl8s for the audit of the financial slalemenls sectson of our report. We are independent ol the charitable company in accordanca with the ethical requirements that are relevant lo our audit of the financjal statements in the United Kingdom, including the Financial Reporling Council's Elhi¢81 Stsndard, and we have fulfilled our other ethical r8sponsibililies in a¢¢ord8n¢e wlh Ihese requiremenls. We bglieve that Ihe 8udil gvidencg w8 have obtained Is $uffi¢iont and appropriate to provide a basi$ for our opinion. Conclusions relating to golng concem In audib'ng ihe financial statements, we have conduded that the Trustees. use of the going concern basis of accounting in the preparation ol the financial slalements is appropriate. Based on tho work we have perfornied. we have not identified any material uncertainties relating to events or conditions that, individually or collecbvely. may cast significant doubl on the charitable companls ability to continue as a going concem for a period of at least iwelve months Irom when ihe finanaal stalements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going COnM are described in the relevant sections of this report. Other matter The prior period financial statements were nol audiled due lo the charitable company previously being eligible for audit exemption under the Charities Act 2011. Page 8
CASP (A Company Limited by Guar*ntee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CASP {CONTINUEDI Other infomiation The other inforrnation comprises the infom)ation included in the Annual Report other than the financial statements and our AuditOfS' Report thefeon. The Trustees are responsible for the other information contained wrthin the Annual Report. Our opinion on the financial statements does not cover the other information and, èxcept lo the exlenl otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is lo ad the other inlorrnalion and, in d(Mng so, consider whether th& other information is matèrially inconsistent with Ihè financial s13tements or our knO&d98 obtained in thè course of the audit, or othetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detern)ine whether this gives rise to a material misstatement in the fi'nancial statements themselves. If, based on the work we have performed, we conclude that there is a material misslal8menl of this other information. we are required lo report that fact. We have nothing to report in this regard. Mattern on whlch we arè requlr¢d to r•port by 0xPIlOn We have nothing lo report in respect ol the following matters where the Charities IAcc4Junls and Reports) Regulations 2008 requires us to report lo you rf. in our opinion.. the information given in the Tw$tee$' Report is InnSistent in any material re$pe¢t with the financial stalernènls,. or sufficienl accounting fecords have not been kept; or the financial statements are nol in agreement wilh the accounting records and relums.. or we have not received all the inlom)alion and explanations we require for our audit. R8spon$lbllltl•$ of trust•e$ As explained more ftjlly in the Trustees, Responsibililies Slatemenl. the Trustees (who are also the directors of thg charitable company for the purposes of company lawl are sponsible for the preparation of th& financial ststements and for being satisfied that they give a true and lair wew. and for such internal control as the Trustees determine is necessary lo enable the preparabon of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial ststements, the Trustees are responsible for assessing tho charitable ¢omp8nls ability to ¢ontinLJe as a going con¢em. disdosing, as applicable, matters related to going nCeM and using the going concern basis of accountin9 unless Ihe Trustees either intend to liquidate the charitable company or to cease operations, or have no realistsc altemative but to do so. Page 9
CASP (A Company Limited by Guar*ntee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CASP {CONTINUEDI Auditors. responsibilities for the audit ol the financial ststements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulatiorbs made or having effect ihereunder. Our objèctiv$s aro to obtain rgasonable assurance about whelher the financial statements as a whol8 are free from material misstatement, whether due to fraud or error. and to issue an Auditors. Report ihat includes our opinion. Reasonable assuran is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered Material if, individually or in the aggregate. they could reasonably be expected lo influence the economic deusions of usets taken on the basis of these financial stslemenls. Irregularities, including fraud. are instances of non•compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable ol detecting legUlarl(leS. including fraud is delalled below.. Enquiry of management aboul any known or suspected instances of norKnmpliance with laws and regulations, acadenls in the workplace, and fraud: Enquiry of management around actual and potenknal litoation and daims: Reviewin9 compliance wilh Snlcant laws and ul31)ns'. Reviewng finanaal siaternenl disdosures and testing to supporting doojmentation to assess compliance with applicable laws and gulaons', Challenging assumptions and judgements made by management in their significant accounting estimates,. and Performing audrt work over the risk of management override of controls. induding testing of joumal entries and other adjustmen15 for appropriateness. and evaluating the business rationale of significant Iransadions outside tho course ol nomial business. Because of the inherent limitations of an audil, Ihere is a risk thal we will not detect all irregularities, including those leading lo a material misstaleffjenl in the financAal statements or non-compliance wth regulation. This risk increases the more that compliance a law or regulation is removed from the events and Iransadions fle¢ted in the financial slatemenls. as we wll be less likely to become awartr of inslancgs of non-¢omplian¢e. The risk is also greater regarding irguIaritles occurring dtje to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepreseniation. A further description of our responsibilits"e5 for the audit of the finanryal stslements is located on the Fin8nci81 Reporting Council's website at". th.fr¢.0 .uklauditorsres sibililies. This d8scripfjon fomis part of our Auditors, Report. Page 10
CASP (A Company Limited by Guar*ntee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CASP {CONTINUEDI Use of our report This report is made solely to the charitable companrfs trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charitable companys trustees those matters we are required to state to them in an Auditors, Report and for no other purpose. To the fulle51 extent permitted by law. we do not accept or assume re5ponsibilily lo anyon8 other Ih8n the ¢h8ritable company and its members. as a body, lor our audit work. for this report, or for tho opinions wg havg fomied. Li Whltlngs LLP Greenwood House Greenwood Court Sklner Way Bury Sl Edmunds Suffolk IP32 7GY Date.. 2911112024 Whitings LLP is eligilse for appoinlmenl as auditor of the Charity by virtue of its eligibility for appoinlmgnl as auditor of a company under Section 1212 of the Companies Act 2006. Page 11
CASP (A Company Limited by Guarntee} STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JANUARY 2024 To181 fvnds 2023 Unaudited Unr•$trlct•d funds 2024 Total fund$ 2024 Note Income from.. Income from donations and granls Charitable activities Investmen15 1,403 193,886 102,841 1,403 193,886 102,841 16,200 99, 155 Total Income 298,130 298,130 115,355 Expendltur• on: Raising funds Charitable activities 25,251 1.362,184 25,251 1.362,184 28,994 1,285,913 Total oxp¢ndltur• 1.387,435 1.387,435 1,314,907 Not ¢xptrndlturo btfor¢ n•t lossès on Inwstmtnts Nel losses on investments 11.089,3051 11,089,305) fl, 199,552) 187,9601 187,9601 (659,961) 15 Not movornent In lund 11.177,2651 11,177,265) (7,859,513) R•conclllatlon ot funds: Total funds brought lorward Nel movement in lunds 6.124,153 6.124,153 7,983,666 11.177,2651 11,177,265) (1,859,513) Total funds carrfed forward 19 4.946,888 4,946,888 6, 124, 153 The Stalernent ol Financial Activib'es indudes all gains and losses recognised in the year. The notes on pages 15 to 34 form part of these financial statements. Page 12
CASP IA Company Limited by Guarantee) REGISTERED NUMBER.. 02210675 BALANCE SHEET AS AT 31 JANUARY 2024 2023 Unaudited 2024 Nots Fixed assets Inlangiblg assets Tangible assets Investments 13 14 20,504 177.098 4,433,436 29,504 194,621 5,549,856 15 4,631,036 5,773,981 Current a$so1$ Debtors Cash al bank and in hand 16 408,039 87.371 327,501 97,T89 495,410 425,290 Creditors.. amounts falling due thin one year 17 (179.558) (75, 7 18) N•t Current assets 315,852 350, 172 Total ass•t8 1088 curr•nt IlabllltSes 4,946,888 6, 724, 153 Total net a88ets 4,946,888 6,124, 153 Charlty funds Restricted funds 19 Unreslricled funds 19 4,946,888 6, 124, 153 Total funds 4,946,BB8 6, 124, 153 Page 13
CASP IA Company Limited by Guarantee) REGISTERED NUMBER.. 02210675 BALANCE SHEET (CONTINUED AS AT 31 JANUARY 2024 The entity was enlilled to exemption Irom audit under secb.on 477 of the Companies Act 2006. The members have not reouired the entity to obtain an audit for the year in question in a¢cordan¢e wth sertion 476 of the Companies Acl 2006. However, an audit is required in accordance section 144 of the Charities Act 2011. The Trustees 8cknowl8dg6 their respcM)sibilib'es cc*np1n9 wilh the requirements of the Act with respect to accounting records and preparab'on ol financial statements. The financial statements have been prepared in accordance wth the provisions applicable to entities subject to the small companies regime. Thè finan¢ial stslemenls were approved an(J authorised for issu6 by tho Trustees and signed on their half by.. J E A Marshall, PhD (Chair ol Trusleesl Dale.. 2811112024 The notes on pages 15 10 34 form part of these financial staiements. Page 14
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 General inforniation CASP is a private cornpany. limiled by guarantee. registered in England and Wale5. The company registered number and gIStered Chanty number can be found on the Company Infomiation page. The companls regislered office and trading addfesses can also be found on the Company Infomiation page. A¢¢ountlng poll¢los 2.1 Basls of preparat5on of financlal sLitsments The financi81 stalemenls have been prepared in ac¢ord3nce wth the charib.es SORP IFRS 1021- Accounting an¢J Reporting by Charities." Stalemenl of Recommended Practice applicable lo charib'es preparing their accounts in acwrdance wilh the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (published October 20191, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2006. CASP meets the definition of a public benefil entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless olheN4ise stsled in the relevant accounting policy. 2.2 Golng ¢on¢ern The financial stalemenis have been prepared on a going ncern basis, as deemed appropriate by the Trustees. Due lo the reduction in operating ineome as 8 result of the diversification programrne outlined in the Trustees Rewrt. CASP is currently ulilising cash reseNes held in the investment portfolio lo support their expenditure throughout this period. Senior management continue lo keep costs under control and minimise these where possible, until $u¢h b'me that op8rational incomo restores to previously eXperiend levels. 2.3 Income All income is recognised once the charil8ble wmp8ny has enlillemenl lo the income, il is probable that thÈ incomè will bg receivèd and th8 amount of income rècèivablè can bè mèasur8d reliably. Dug to the redLJCtion in operating income as a result of its diversification programme outlined in the Trustees Report, CASP is curTenlJy ulilising cash reserves held in the investment portfolio to support their expenditure throughout this period. Senior management continue to keep cosls under control and rninirnise these where possible. until such time that operational income restores lo previously achieved levels. Subscriptions are induded in th& Statement of Financial Activities once the charity hBS entitlement to the income, based on the recognrth)n crileria of the income being met. Where income is received in advance ol entidemenl of receipt. its recognition is deferred and included in creditors as deferred income. Grants are induded in the Stslement of Financial Acfvtie5 on a receivable b8sis. The balance of income received for specific purposes bul nol expended during the period is shown in the relevant funds on the Balan Sheet. Where income is received in advance of entiuement ol receipt, its recognition is deferred and included in creditors as deferred income. Where ents'uement occurs before income is received, the income is accrued. Investment incowne is included in the Ststement of Finan81 Activities on a T1Vable ba515. Page 15
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies Icontinuedl 2.3 Incom8 Icontinu•dl Income tsx recoverablo in relalion lo investment income is recognised al the timè the invoslment income is receivable. Other income is recognised in the period in which it 1$ receivable and to the extent the goods have been provided or on completion of the service. 2.4 Expendlturn Expgndilure is recognised once there is a 18981 or )nStrUC10 obligation lo Ir8nsf8r economlc benefit lo a third party, it is probable Ihal a Iransf8r of economic benefits will be requirèd in $8ttlèmènt and the amount of the obligation can be measured reliably. Expenditure is dassified 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. Direcl costs aitributable to a single activity are allocated directly lo that activity. Shared costs which eonlribule lo more Ihan one actsvily and support costs which are not allnbut8ble Io 8 singltr aclivily are apportioned between those activities on 8 basis consisltsnl with the use of resources. Central staff cosls are allocated on the basis ol ts'me spent, and depraaalion charges allocated on the ports'on of ihe assot's use. Expendilure on raising funds indud8s all expenditure incurred by the charitable company to raise funds for its charitable purposes arKI indudes costs of all fundraising activities events and non- charitable trading. Expgndilure on charitable activities is incurrgd on direcily tjndgrtaking Ihe aclivili8s which further the charitable wmpanys ObltIves. as well as any associated support costs. All expenditure is indusive of irrecoverable VAT. 2.S Government grants Government grants relating to tsngible fixed assets a treated as deferred income and released to the Statement of Finanaal Acts'vities over the expected useful lives of the assets concerned. Other granis are credited to the Siatemenl ol Finanaal Activities as Ihe related expenditure is incurred. 2.6 Interest receivable Intgresl on funds held on deposit is induded when receivable and tho amount can be mgasurgd reliably by the charitable company.. this is nomially upon notification of the interest paid or payable by the inststution with whom the hjnds are derK)sited. 2.7 Foreign currencies Monetsry assets and liabilth.es denominated in foreign ¢urren¢ies are Iranslaleil into steding at ral&s of exchange ruling at the re)rtIng ijate. Transactions in foreign currenues are iranslated into sleding at ihe rate ruling on the date of the transaction. Exchange gains losses are recogni1 in the Stslement of Fin8nci81 Activities. Page 16
CASP (A Company Limited by Guarntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies Icontinuedl 2.8 Intangibl8 assets and amortisat•on Intsngible assets costing £3(M) or more are capitalised and recognised when future economic benefits are probable and the eosl or value of the asset Can be measured reliably. Intsngibl8 assèts ar8 initially recognisèd at cost. Aftèr recognition. under the Cost model, intangible assets are measured at cosl less any accumulated amortisation and any accumulated impairment losses. Amortisats'on is provided on intangible assets al rates calculated to write off the cost of each asset on a straighl-line basis over its expected useful life. Amortisalion is not provided on inlangible fixed assets under wnstruction. Computer Softwaro 20 % Straight line 2.9 Tangibl• fixèd ¥sèts ènd doprè¢latlon Tangible fixed assets costin9 £300 or more a capitalised and COgnised when futur8 economic bengfits arg probablo and the cost or value of the asset can be measurod reliably. Tangible fixed assets are initially recognised at cost. After recwnItn, under Ihe cost model, tangible rixed assets are measured al cosl less accumulated depreciation and any accumulated impairment losses. Al costs incurred to bring a tangible fixed asset into its intended working conditson should be included in the measurement ol cost. Depreciation 1$ charged $0 as to allat0 the cost of tsngible fixed assets less their residual valuo over their estsmated usefvl lives. using the straight4ine method. Depreciation 1$ provided on the following bases.. Plant and machinery Flxtures and ffttings 20-33% 2-20% 2.10 Investments Fixed asset investments are a form of financial in5trurnent and are In'allY recognised al their transaction cost and subsequently measured al fair value al the Balan¢x Sheet dale, unless the value cannot be measured reliably in which case rt is measured at ¢ost Igss imp8im)ent. Inveslmgnl gains and losses, whether realised or UnalISed, a combined and presented as 'GainsllLossesl on investments. in the Stalement of Financial Activities. 2.11 Debtors Trade and other debtors are recognised at the settlement arnounl after any trade dis¢ount offered. Prepayments are valued at the amount ppaI{j net of any trade discounts due. 2.12 Cash at bank and in hand Cash at bank and in hand indudes cash and short-term highly liquid investments with a short malurty of three months or less from the dale of acquistb.on or opening of the dep0511 or 5iTnilar account. Page 17
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies Icontinuedl 2.13 Liabllitl8s and provislons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable Ihal a transfer of economic benefit will be requirad in settlement, and the amount of the settlement Can be estimaled reliably. Liabilities are recognised at the anN)unt that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payTnents for the goods or setvices rt must provide. Provisions are measured al the best e51imale of the amounts required to settle the obligation. Whera the effect ol the lime value of money is m8leri81. the provision is based on the present value of those amounts, discovnled al the pre-tax discovnl rale that reflects the risks specific lo the liability. The unwinding ol Ihe discount is recognised in Ihe Slatemenl of Financial Acts'vities as a finance cost. 2.14 Financlal Snstrum•nts The charitable company only has financial assets arKI finanual liabilities of a kind that qualify as basic rin8n¢i81 instruments. Basic financial instwmenls are inib.ally recognised al transaction value and subsequently measured al their setuemenl value with the exception of bank loans which ar8 subsequently measured al amortised cost using the effective interest mothod. 2.1 S Penslon8 The charitable company operates a defined contribution pension scheme and the pension charge repSentS the amounts payable by the charilable company lo the lund in respect of the year. 2.16 Fund a¢¢ountlng General funds are unrestricted fijnds which are available for use at ihe discrets'on of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Designated funds comprise unstriCted fvnds that have been set aside by the Trustees lor particular purposes. The aim and use of each ijesignated is set out in the notes to the financial statements. Investment income, gains and losses are allwated lo the appropriate fund. Page 18
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Critical accounting estimates and areas of judgment Estimates and judgments are conb"nually evaluated and are based on historical experience and olh8r f8¢tors, including expectstions of future events that a believed to be re8sonable under the circumstances. Critical accounting eslimates and assumptions= The charitable company makes eslimales and assumptions nCernIng the future. The resulting accounting eslim8les 8ssumplions will. by definrtion. seldom equal the rel8led 8clual results. The eslimales and assumptions that hav8 a signifi¢anl risk of causing a malerial adjuslmenl lo the Carrying amounts of assets and liabilities wthin the next finanoal ar are discussed below. Useful economic lives of tangible asset$.' The annual depreeialion Charge lor tangible assets is sansitsve lo d)anged in the eslim81ed usèful economic lives anij residual values ol the assets. The useful economic lives and residu81 values are re- assessed annually. They are amended when necessary lo reflect current eslimales, based on tg¢hnological advancgmenl, fulure inv8Stmen¢s. economic utilisats'on and the physi¢81 condilion of tho assets. Page 19
CASP (A Company Limited by Guarntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Income from donations and grants Total fvnds 2023 Unaudited Unrostrlctèd funds 2024 Total funds 2024 Donations Grants 203 1,200 203 1,200 1.403 1,403 Incom• from chrltabl• actlvltlèj Total funds 2023 Unaudited Unrestricted funds 2024 Total fund5 2024 Subscription income 193,886 193,886 16,200 Total 2023 16.200 16,200 Inv•stment Incom• Tol81 fvnds 2023 Unaudited Unrestri¢ted funds 2024 Total funds 2024 Income from investment portfolio Oth8r inv8stment income 102.841 102,841 91,241 1,908 102,841 102,841 99,155 Total 2023 99,155 99,155 Page 20
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Investment management costs Total fvnds 2023 Unaudited Unrostrlctèd funds 2024 Total funds 2024 Portfolio management fees 25,251 25,251 28,994 Total 2023 28.994 28,994 Analysls of •xp•ndlturo on charltable actlvttl Summary by fund typfj Unrestrlcted fund$ 2024 Total 2024 Total 2023 Consultancy Stsff costs Accountancy & audit fees Exploration & fieldwork Library services Other office costs Scientific Advisory Board expenses Promots'on & publialy Staff training Restrar¢h activities 58,147 889,610 6,205 14,764 820 161,783 58,147 889,610 6,205 14,764 820 161,783 43,026 872,428 4,935 46,210 634 173,049 3, 703 340 130 130 14,261 216,464 14,261 216,464 76,581 125,007 1.362,184 1,362,184 1,285,913 Total 2023 1,285,913 1,285,913 Page 21
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Analysis of expenditure by activities A¢tlvltles und•rtak•n directly 2024 Total fvnds 2023 Unaudited Support costs 2024 Total funds 2024 Consultancy Siaff costs Accountancy & audit fees Exploration & fieldwork Library services Other offico costs Scientific Advisory Board expenses Promotion and publicity Stsff Iraining ReSeah activities $8.147 386,196 58,147 889.610 6,205 14,764 820 161,783 43,026 872,428 4,935 46,210 634 173,050 3, 703 340 16,581 125,007 503,414 6,205 14.764 820 161,783 130 130 14,261 216,465 14,261 216,465 Total 2024 690,653 671,532 1,362,184 7,285,913 Tol812023 676.939 608.975 7,285.914 10. Auditors. remuneratlon The auditors, remuneralion amounts lo an auditor fee of £8,500 (2023 - £ -). and Independent examiner of £ -12023- £3,660). 11. Staff costs 2023 Un8udited 2024 Wages and salaries Social Security costs Contribution lo defined Contribution pension sche5 629,410 64,614 195,586 623,482 60,490 188,456 889,610 872,428 Page 22
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 11. Staff costs Icontinued) The average number of persons employed by the charitable company during the year was as follows.. 2024 No. 2023 No. Research services Management and administration Tèchnical services 14 16 The number of employees whose employee benefits {exduding employer pension costs) exceeded £60,000 was.. 2023 Un8udil8d No. 2024 No. In the band £60,001 - £70,( In the band £70,001 - £80,( During the year, defined pension conlribtjlions on behaw of thes8 members of staff amounted lo £15,335 12023.. £46,126). Remuneration and benefits r91¥¢d by key managgment personnel in the yoor werg £462,18212023'. £442,249). Page 23
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 12. Trustees. remuneration and expenses During the year. no TTuslee5 received any remuneration or other benefits (2023- £NIL). During the year ended 31 January 2024, expenses lotalling £1.616 were reimbursed or paid directly lo 5 Trustees12023 - £2.285 paid direcuy to 6 TnJslees}. 13. Intangible assets Computor $oftwaro Cost Al 1 February 2023 45,254 At 31 January 2024 45,254 Amort18atlon Al 1 February 2023 Charge lor the year 15,750 9,000 At 31 J8nu8ry 2024 24,750 Net book value At 31 January 2024 20,504 At 31 J8nuary 2023 29,504 Page 24
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 14. Tangible fixed assets Plant and Flxture$ and maehln•ry fittlngs Total Cost or valuatlon At 1 Fgbruary 2023 Additions 268.186 33,451 121,841 390,027 33,451 At 31 January 2024 301.637 121,841 423,478 Depreciation At 1 February 2023 Charg8 for the year 141.342 46.2SS S4,064 4,720 195,406 50,975 At 31 January 2024 187,597 58,784 246,381 Net book value At 31 January 2024 114.040 63,057 177,097 Al 31 J8nuery 2023 126,844 67, 777 194,621 Page 25
CASP (A Company Limited by Guarntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 15. Fixed asset investments Llsted Inv•stm•nts Cost or valuatlon At 1 Fgbruary 2023 Additions Disposals Revaluations S,549,856 2,155,873 13,184,334) 187,9601 Al 31 January 2024 4,433,436 Net book value At 31 January 2024 4,433,436 Al 31 Jonuory 2023 5,549,856 16. Debtors 2023 Unaudited 2024 Du¢ wlthln on• y•r Trade debtors Other debtors Prepayments and accwed income 71,064 18,588 318,387 14,161 373,340 408.039 327,501 Page 26
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 17. Creditors: Amounts falling due within one year 2023 Unaudit&d 2024 Trade creditors Other tsxation and social security Other creditors Accruals and deferred income 23,338 17,840 19,052 119,328 6,276 7T,740 11,312 39, 790 179,558 75,118 18. Flnan¢lal In8trum•nts 2023 Unaudited 2024 Flnan¢lal a$$•ts Finan¢i818ssets measured 81 fair value Ihrough income and expendilure 4,520,806 5,647,645 Finaneial assets meèsured al fair value through income and expenditure ttjmprise Cash al bank and the value of the investmenl portfolio at the reporting date. Page 27
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 19. Statement of funds Statement of funds - current year Balancè at 1 Fèbruary 2023 Unaudited Balanc8 at Gainsl 31 January (Losses) 2024 Transfers inlout Income Expenditure Unr•strl¢tfrd funds Designated funds Black Sea Data collertn Greenland NW Black Sea Flood Basall IVol¢anic Basins) South Caspian Prov Study 2 88renls Sh911 Paratethyan Stratigraphy Project 2 SEM North Atlantic Margins Bunter Impact of Volcaniclaslic rocks on C02 stores 55,092 144,745) 163,455) 11.688) 137.512 112.167) 1,688 56,912 63,455 19,268 11,6881 1115.368) 154.8651 {170,2331 19,272) 170,599) 19,2721 177,4081 (6.809) 12,434) 12,598) (31.325) 123.6861 (160.723) {194,4821 125,0841 1.200 16.948) 1173.188) (36,386) {337.5321 325,163 281,829 {442,0241 68,696 19,982} 1267,991) (3.169) 113,1511 {267,9911 Dinarides Paralelhyan Stratigraphy Project Greater Caspian Provenance Project Neptun Deep Study Critical Minerals project Mudrock Seals project 194,482 194,482 (3.190) {11.598) {32.590) 9,272 113,838) 144.5851 10,117 132,457) {6.744) 139,2011 1142,636) (93.370) {236,0061 Page 28
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 19. Statement of funds (continued) Statement of funds- current year Icontlnuedl Balancè at 1 Fèbruary 2023 Balaneo at Gainsl 31 January (Losses) 2024 Transfers Inlout Income Expenditure New project development and charilable expenses Reacii'ons and flow project 1138,034) 61.397 73.865 12,7721 157.915) 114.0941 172,0091 1906.764} 195.086 1652.445) 327.770 11,036,353) General funds Stralegic reserve Investment reserve 3,15S.401 (705,019) (327,7701 2,122,612 643.206 (4.720) 638,493 Building improvement reserve 3,232.310 103.037 125,251) 187,9601 3,222,136 7.030,917 103,044 (734,990) {327.7701 187,9601 5,983,241 Total Unrestrlcted funds 6.124,153 298.130 {1,387.4351 187.9801 4,946.888 Designated funds.. Designated funds represent funds ringfenced by the trustees in respect of specific ongoing projects as determined by the charity itself. Some fund5 are in deficit due lo being financed partially or wholly frorn the chariws main reserves a5 incowne has not been suffiGienl lo fully fund the projects. The Iruslees dèèm it appropriate to recognise these funds in d¢fiut where appropriate to represent the net exp¢ndiluro in these areas. General funds.. General funds represent fund5 available for the other general objectives of the charity. The trustees dee the level of general raserves held (less designat8d fund balances in dÈficitl as bèing al an appropriatg level for the charity to be able to continue its charitable activities for the foreseeable future. Page 29
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 19. Statement of funds (continued) Statement of funds - prbor year Balan¢e al l Febnjary 2022 Balanc8 at Gainsl 31 January (Lossesj 2023 Income Expenditure Unr•strl¢t•d funds D•slgnated funds Black Sea Dal8 Collectbn Greenland NW Black Sea 762,809 (107. Tl7) (44, 7451 55,092 (44, 745) (63,455) (1,688) (115.368) (9,272) (70,599) 163,455) (1,688) (62, 776) Flood 8asall (Volcanic 8asinsl South Caspian Prov Study 2 B8rgnls Sho11 Paratethyan Stratigraphy Project 2 SEM North Allanlic Margins Bunt8r f52.5921 (9,272) (38,692) (31,907) (2.434) (2. T98? (6.948) (160,227) (2.434) (2,598) {6,948) (173, 188) 200 (12,961) Impact ol Volcaniclaslic rocks on C02 stores Dinarid8S Paratethyan Stratigraphy Project Greater Caspian Provenanee Project Uralian Proven8nce Project Critical Minerals projeci Mudrock Seals project New project developrnenl and ¢harit8ble expgnses Reactions and flow project (7,785) (256.737) (8, 797) (11.2541 (9,982) (267,991) 197,253 (2. 771) 194,482 (3. 190) (13,8381 (15,253) (120, 129) {3, 190) (Y3,838) (32,457) (142,636) (17,204) (22,50T) (39.551) {24,654J (98,4831 (33,261) (138,034) (57,915? (7T5. 163) 200 (731,807) (906, T64) General funds Strategic reserve Investment reserve 3.406.467 643,206 4.709. 156 16,C190 (267,066) 3, 155,401 643,206 3,232,310 Building improvement reserve 99,154 (316,039) (659,961) Page 30
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 19. Statement of funds (continued) Statement of funds- prlor year Icontlnuedl Balan¢e al l Febnjary 2022 Balanc8 at Gainsl 31 January (Lossesj 2023 Income Expenditure 8.158,829 115, 154 (583, 105) (859,961) 7,030,917 Total Unr•8trlcted funds 7,983.666 7 15,354 {1.314.906) (659.967) 6, 724, 153 Page 31
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 20. Summary of funds Summary of funds- current year Balancè at 1 Fèbruary 2023 Unaudited Balanc8 at Gainsl 31 January (Losses) 2024 Transfers inlout Income Expenditure Designated ftjnds 1906,764) 7.030.917 195.086 103.044 (652.44S) (734.9901 327.770 {327.7701 11,036.3531 S,983,241 General funds 187,9601 6.124,153 298,130 {1,387,43S 187,9601 4,946,888 Summary offunds. prlor year Balan al l February 2022 Balanco ot Gainsl 37 January (Losses) 2023 Income Expenditur8 Designated lunds General funds 1175. 163) 8.158,829 200 116, 154 (731,801) (583, 105) (906, 764) 7,030,917 (659,961) 7.983.666 115,354 (1,314.906? (659,961) 6, 124, 153 21. Analy$l8 of not assets between fvnds Analysls of n•t asséts tWO•n funds - current year Unrestricted fund5 2024 Total fund5 2024 Tangible fixed assets Intangible fixed assets Fixed asset investJnents Current assets Creditors due within one year 177,096 20,504 4.433.436 495.410 {179,5581 177,096 20,504 4,433,436 49S,410 {179,5581 Total 4.946,888 4,946,888 Page 32
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 21. Analysis of net assets between funds Icontinuedl Analysis of net assets between funds - prior year lunaudtted} Unrestricled funds 2023 Total fvnds 2023 Tangible fixed assets Intangible fixgd assets Fixed assel investments Current assets Creditors due within one year 194.627 29,504 5,549,856 425.290 (75, 718) 794,621 29,504 5.549,856 425,290 (75, 118) Total 6, 124, 153 6, 124, 153 22. Capltal commltmonts 2023 Un8udit8d 2024 Contracted for but not provlded Sn these flnanclal statemonts Acquisition of tsngible assets 31,760 22,341 23. P•n$i¢n ¢ommitment$ The Charity operates a defined ¢tribution pension scheme. The assets of the s¢heme are held separately from those of the Charity in an independendy administered fund. The pension cost charge represents contributions payable by the Charity lo the fund and amounted to £195,58612023- £188,4561. Contributions of £17,866 12023 - £4,1751 were payable lo the fund al the balance sheet dale and are included in credilors. Page 33
CASP (A Company Limited by Guar*ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Operating lease commitments Al 31 January 2024 the charitable company had commitments to make future rninirnum lease payments under nOnncelIable operating leases as follows.. 2023 Unaudited 2024 Nol18ler th8n 1 year Later than 1 year and not later Ihan 5 yea 2,820 5,640 2,820 2,820 8,460 25. Memb•rs'15abillty Each member of the charitsble company urKJertakes lo contribute lo the assets of the company In tha event of il being wound up while Ihey are a membef, or within one year after they c8ase lo be a member, such amount as may be requid. nol exceeding £1 for the debts and liabilities contracted before Ihgy cease to be a member. 26. Related party transa¢tlon$ The charitable company has not 8nter8d into any r8lated paty transaction during the year, nor are ther8 any outsianding balances owing tsefvn related parb'es and the charitable company at 31 January 2024. Page 34