2024-03-31-accounts

Company registration number: 02788157 Charity registration number= 1017501 Lincolnshire and Nottinghamshire Air Ambulance Charity (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024

Lincolnshire and Nottinghamshire Air Ambulance Charity Contents Reference and Administrative Details Introduction from the Chair Welcome from our CEO Trustees, Annual Report 4t013 Independent Auditors. Report 14to16 Consolidated Statement of Financial Activities Consolidated Balan￿ Sheet 18 Balance Sheet 19 Consolidated Statement of Cash Flows 20 Notes to the Financial Statements 21 to41

Lincolnshire and Nottinghamshire Air Ambulance Charity Reference and Administrative Details The Lincolnshire & Nottinghamshire Air Ambulance (LNAA) provides a Helicopter Emergency Medical Service (HEMS) for our two counties and beyond. Called out on average 4 to 5 times a day, our crew attend predominantly life-threatening or life-changing incidents and accidents, delivering the equivalent of a hospital A&E Department to the scene. We are not NHS funded and our service is free to all. funded by our local community. Trustees G L Secker. (Chair) J E O'Hern FCA, (retired 26 July 2023) L Briggs S Clarke, (appointed 26 July 2023) A Davies R Hughes. (appointed 7 February 2024) S Marlor. (appointed 26 July 2023) G Parsons, (appointed 26 July 2023) L Watts. (appointed 26 July 2023" name change to Mrs L Henton 12 May 2024) N Winkett. (appointed 25 January 2023) P Would, (resigned 20 February 2024) K Jobling Chief Executive Officer Secretary Wilkin Chapman Company Secretarial Services Limited Registered Office LNAA Headquarters HEMS Way Off Sleaford Road Bracebridge Heath Lincoln LN4 2GW Company Registration Number 02788157 Charity Registration Number 1017501 Auditor Forrester Boyd 26 South St. Marfs Gate Grimsby North East Lincolnshire DN31 1LW Bankers Barclays Bank plc Tritton Road 3 Crusader Road Lincoln Lincolnshire LN6 7AR Solicitors Wilkin Chapman LLP The Maltings 11-15 Brayford Wharf East Lincoln LN5 7AY Page 1

Lincolnshire and Nottinghamshire Air Ambulance Charity Introduction from the Chair for the Year Ended 31 March 2024 Dear Supporters, On behalf of the Board, l am delighted to share our annual report and accounts for the year ending 31 March 2024. 11 has been a remarkable year of progress. growth and achievement despite the continuing challenging economic environment in which we work. The Iife-saving work of the charity Is only made possible by the fantastic support of the communities we serve. and I sincerely thank everyone who has supported LNAA in the past year. We simply could not do il wilhoul you. Thank you. Last year was also our busiest on record wlh our crews re5pondin9 10 1.794 emergencies to be by the side of people who were often In life-threalening or Iife-changing circumstances. 11 remains our pnorily lo be by the side of more patients, delivering the hospital to the scene Our Patient & Family Liaison Officers have supported an increasing number of past patients, their families. fnends and others affected by what can be a Iraumalic experience for many. They have provided a conf,denlial empalhelic service along with guidance and signposting lo give people the best support after an incident. We are humbled by the slories of those patients who chose lo tell us about their accident and their road lo recovery. We said goodbye lo a number of Trustees during the year who came to the end of their term. and I'd like to thank them for Iheir dedication and contributions. In turn, we have welcomed several new Trustees to the Board who bring a wealth of experience in law. finance. Human Resources and business development which wll help steer the charity through 115 next stage of developrnenl. Financially, the charity had a SL¢ccessful year through exceeding largels and making cost efficiencies where possible. We were also very fortunate lo have been left 50me generous gifts In Wills which exceeded our foreca51s and will help us lo expand our seNice and reach more patients. Finally, I'd like lo extend the Board's most sincere thanks lo our staff. crew and volunteers for their hard work. dedication and comm51menl. Along with our supporters. donors and partners. Ihey have been instrumental in the success ol the Linc5 & Nolls Arnbulance charity Ihi) year. Thank you. G L Secker Chair ol the Board Page 2

Lincolnshire and Nottinghamshire Air Ambulance Charity Welcome from our CEO for the Year Ended 31 March 2024 As we close the financial year 2023124, we look back on a period of remarkable achievement and service delivery, all made possible by our local communities. Thank you lo everyone who has supported our wonderful charity. In this report. you can read about our key achievements. financial performance. operational delivery and the inspiring stories from some of the past patients we have had the privilege lo meet. We Invite you lo join us in celebrating the milestones of the past year and lo look ahead as we celebrate our 30th anniversary throughout 2024. Through the collective effort and tremendous support of the people of Lincolnshire and Nottinghamshire, we increased our Income lo have the best year on record financially. This has enabled us lo make plans lo extend the service lo be by the side of more patients than ever before, and to 1nve51 In our fundraising lo deliver future sustainable income streams. The year was also our busiest on record with crews tasked lo 1.794 missions. which averages almost five call-outs every day. Palienl numbers continue lo rise and we have bold ambitions lo grow further still. bul rernain very mindful of the challenging times we all live in. I remain Immensely proud lo lead an incredible team who all play an Integral part in the delivery of our life-saving care, 24-hours-a-day, seven-days-a-week. Whether beachside. roadside or countryside. day or night, we aim lo be by the side of patients when they need us most. In closing, I'd like lo express my deepest gralilude for your continued support. Together, we have made a tangible difference lo many people's lives. On behalf of our entire leam. thank you for your support of the Lincs & Nolls Air Ambulance charity. Chief Executive Page 3

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Objectives and activities Our Vision Mission & Values Our Vision To be by the side of more patients, enabling the delivery of v￿r1d-ClasS critical care. Our Mission To provide outstanding critical care by helicopter and car. 2417 to the people of Lincs, Notts and beyond. Our Values We have four values that express and represent our shared understanding of the principles that are important to us. They set out the things that vrfe aspire to be as a Charity and that underpin everything we do. Teamwork: Staff, crew. volunteers, partners and the community,. one indivisible team Respect: We treat everyone y￿th consideration. appreciation and acceptance Innovation: We aim high and embrace opportunities to improve and enhance everything that we do Compassion: We treat others with sensitivity. consideration and kindness What we do The Lincs & Notts Air Ambulance is one of the UK'S leading Helicopter Emergency Medical Service (HEMS) charities, serving a population of 1.65m people spread over 3,500sq miles. Since our inception in 1994, we have delivered a pre-hospital, life-saving service across the two counlies and beyond. Although we work alongside the NHS, we are not part of the NHS and are not funded by the Government. Our crew are tasked by East Midlands Ambulance Service (EMAS) as part of the 999emergency system and are deployed by Helicopter or Critical Care Car. whichever is the most appropriate given the patients location and needs. To date. we have been tasked to over 29,500 potentially life-threatening missions We are available 24 hours a day. 365 days of the year. Our state-of-the-art helicopter enables us to reach any corner of our counties within 20 minutes. Our highly specialised crew of doctors. paramedics and pilots deliver life-saving interventions at the S￿ne,. we ensure the patient is then transported to the most appropriate hospital for their needs. Medical emergencies and accidents can change lives forever and that's why we are committed to saving lives and improving patient outcomes by providing cutting-edge, pre-hospital critical care. We are a vital part of Ihe local community and proud to be so. Our crews effectively bring the hospital to the patient. whether beachside, roadside or countryside, day or night. They can perform life-saving interventions at the scene, including emergency chest and heart surgical procedures, deliver emergency anaesthesia and administer blood transfusions to patients suffering significant blood loss. We operate a state-of-the-art AW169 Helicopter and two Critical Care Cars (CCC). At a time when every second counts, the arrival of our iconic yellow Helicopter really can mean the difference be￿een lrfe and dealh. As a Care Quality Commission (CQC) registered independent healthcare charity, we deliver pre-hospital critical care at the scene when individuals need us the most. Our Patient & Family Liaison Officers (PFLOS) provide support, answer questions and guide former patients and their families with onward signposting when their world has been turned upside down following a serious incident. Former patient feedback enables learnings and the continuous improvement of our service. Our service is available free of charge. 365 days of the year. 24 hours of the day. For more information, please visit our websile." www.ambucopter.org.uk Page 4

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Structure Governance and Mana ement The Trustees. who are also Directors of the Charity for the purposes of the Companies Act, are pleased to present their Annual Report together with the consolidated financial statements of the Charity and its subsidiary for the year ending 31 March 2024. This report is also prepared to meet the requirements for a Directors, Report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011. the Companies Act 2006. the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Charity Commissions, summary guidance for Charity Trustees on Charities and Public Benefrt. Trustees have taken reference of the Charity Commission guidan￿ on Public Benefit. The Charity provides pre-hospital critical care to patients outside of the hospital environment. The Board is confident that the provision of our Helicopter Emergency Medical Servi￿, freely available to the communities of Lincolnshire and Nottinghamshire, meets all the provisions of public benefit. Organisational Structure The Charity is governed by a Board of Trustees, the Board meets at least quarterly. The Chief Executive Officer (CEO) is appointed by the Board and has delegated responsibility for the day-to-day management, operations and overall leadership of the Charity which is detailed in a Scheme of Delegation. The Chair undertakes an annual performance review of the CEO, with full Board input. The CEO manages a multi4isciplinary team of Charity staff, clinicians and aviators. The Leadership Team are responsible for the efficient and effective delivery of the approved Strategy. All staff are accountable through a line management system to the Leadership Team, who are in turn, through the Chief Executive Officer, accountable to the Trustees. Directors and Trustees The Directors of the Company are the Chariws Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Trustees have taken referen￿ of the Charity Commission guidance on Public Benefit. The Charity provides pre-hospital critical care to patienls outside of the hospital environment. The Board is confident that the provision of our Helicopter Emergency Medical Service. freely available to the communities of Lincolnshire and Nottinghamshire. meets all the provisions of public benefit. Organisational Structure The Charity is governed by a Board of Trustees; the Board meets at least quarterly. The Chief Executive Officer (CEO) is appointed by the Board and has delegated responsibility for the day-to-day management, operations and overall leadership of the Charity which is detailed in a Scheme of Delegation. The Chair undertakes an annual performance review of the CEO. with full Board input. The CEO manages a multi-disciplinary team of Charity staff, clinicians and aviators. The Leadership Team are responsible for the efficient and effective delivery of the approved Strategy. All staff are accountable through a line management system to the Leadership Team, who are in turn, through the Chief Executive Officer. accountable to the Trustees. Directors and Trustees The Directors of the Company are the Charitys Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Governing Document The Lincolnshire & Nottinghamshire Air Ambulance charity (day to day working name is Lincs & Notts Air Ambulance (LNA4)) is a registered Charity (No. 1017501) which was incorporated on 9 February 1993. It is a company limited by guarantee and is governed by Articles of Association. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member (the members being the Trustees}. Page 5

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Public Benefit The public benefit provided by our air ambulance charity is the provision of pre-hospital critical care to patients, primarily across the two counties but beyond when the need arises. Our Helicopter and Critical Care Cars are dispatched by the Emergency Operations Centre (EOC) of East Midlands Ambulance Service (EMASJ following set criteria which considers the clinical need. urgency and accessibility of the patient. as well as the distance to the most appropriale hospital. Our service is free of charge to all. . The Board & Sub Committees The Charity is governed by a volunteer Board of Trustees who bring a range of skills and experience relative to the objectives of the Charity, including legal, business development, finance. human resources and local affairs. The Board is proud to lead a professional, ambitious air ambulance charity that strives for excellence. built on foundations of strong governance, compliance and robust financial management. Trustees are appointed in accordance with our governing document following a defined procedure. Collectively, the Board is responsible for the strategic direction and policies of the charity. Trustees serve a term of 3 years and are eligible to be reappointed twce. serving a total of 9 years. The Board can, but rarely has. make an exception to this is the interests of the Charity. The Board comprises of a Chair plus up to 11 other Trustees. By a unanimous vote of the Board, the current Chair has been extended beyond the 9-year point in order to maintain continuity during a pivotal time in the CharIt￿S strategic development. There are currently three Sub Committees of the Board which comprise of both Trustees (members) and Leadership Team members (attendees): the Finance & Audit Commitlee (F&AC), the Staff & Remuneration Committee, and the Income, Comms & Marketing Committee {ICM). The Lincolnshire & Nottinghamshire Air Ambulance charity (day to day working name is Lincs & Notts Air Ambulance (LNAA)) is a registered Charity (No. 1017501) which was incorporated on 9 February 1993. It is a company limited by guarantee and is governed by Articles of Association. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member (the members being the Trustees). Trustee recruitment, induction and training The Charity follows industry good practice when recruiting to the Board, which includes personal referrals for Board consideration, alongside external recruitment. Following an open recruitrnent drive, four new Trustees were appointed to the Board during the past financial year. New Trustees are appointed in accordance with our Articles of Association. Trustees have defined Terms of Reference, an Induction Plan and a comprehensive Trustee Handbook which includes a copy of our Articles of Association. our latest audited accounts, our Strategic Plan and a copy of the Code of Good Governance, plus other key Charity Commission guidance materials. Training is offered to all Trustees to enable them to fulfill their responsibilities to the Charity- Led by the Chair, the Board undertakes a Skills Audit as well as a Board Self-Assessment annually to ensure the Board has the appropriate skillset and diversity needed, and to identrfy gaps which in turn informs our Trustee recruitment and training. As a complex, multi-disciplined organisation it is vital that the Board has a balan￿d mix of skills and experience. Our Board of Trustees are volunteers and give their time and expertise freely for the benefit of the Charity. Our Staff We encourage a prO￿sS of continuous staff engagement through a range of opportunities. including regular one-to-one meetings, departmental team meetings. 'One Team, get togethers, Monthly 'Copter Comms, internal newsletters and an annual staff survey. Results from our staff survey are monitored to detect any emerging issues, with discussion and focus groups taking place if required. We value and prioritise the wellbeing of our staff which is supported via a range of mechanisms including staff benefits. wellbeing resources and activities arranged by our staff-led Wellbeing group. We are committed to creating an indusive environment where our staff feel valued to be their authentic selves. Page 6

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report . Volunteers The Charity is supported by a tremendous team of volunteers who make a signtficant contribution to our activities. Although formal inclusion of the value of this contribution in the Charitls statutory accounts is not permitted under SORP, Ihe Charity has developed a system to track and monitor hours donated and to capture an eslimated financial value. During the year we had 155 active volunteers whose tremendous contributions of over 24,642 hours of donated time reached the equivalent of £256,761. Our much-valued volunteers undertake a wide range of valuable duties for the Charity, including as Trustees, giving time in our shops. undertaking presentations on the work of LNAA, supporting community events and looking after collection boxes. All volunteers are supported by an identified staff member, given a comprehensive induction and on-going support. Pay Policy for Staff LNAA is a complex and highly regulated organisation. encompassing clinical, aviation and charity regulation. The success of the Charity is largely dependent on its ability to recruit and retain talented staff with appropriate skills and who share its core values. The Slaff & Remuneration Committee consists of the Chair (Graham Secker) plus a Trustee with significant HR expertise (Louise Henton)- this committee is responsible to the Board for the annual review of staffing levels, contracted terms of engagement and remuneration levels of all staff. Salary levels for all staff are considered in line with regional and sector benchmarking against the levels of responsibilities within a role. The Committee also reviews other benefits. Proposals for new staff are presented to the Committee, with recommendations made to the full Board for approval. The annual remuneration of the CEO is decided by the Board of Trustees. During the period of this report, the Leadership Team comprised of.. Chief Executive Officer Chief Operating Officer Medical Director Director of Finance Interim Director of Income & Engagement Head of Comms & Marketing Head of HR (replaced with Head of People & Culture in January 2024) Head of Operations . Senior HEMS Paramedic Key Stakeholders LNAA is part of an integrated response to emergencies within the East Midlands region. facilitated by Easl Midlands Ambulance Service (EMAS). Our Helicopter and Critical Care Cars are deployed on emergency missions by the EMAS Emergency Operations Centre in Nottingham. Our partnership working with EMAS is set out in a formal agreement. Regular meetings are held between the charity and EMAS to ensure efficient and successful partnership working. The charity has worked hard to further develop its relationship with hospitals within the region, including Queens Medical Centre {QMC) in Nottingham (our Regional Major Trauma Centre), Lincoln County Hospital, Hull Royal Infirmary and Sheffield Northern General Hospital. Our aviation partner is Heliservice. who provide and maintain our aircraft. as well as providing a highly skilled pilot team supported by two specialist helicopter engineers. Both organisations meet quarterly lo review performance against contracted performance metrics. Our Helicopter is a modern. state-of-the-art AW169 air ambulance which enables our doctor-paramedic clinical team to provide the very best trealment for the patients we see. We provide a 2417 service under our own clinical governan￿ following our registration with the Care Quality Commission {CQC) in 2021. During the year, LNAA has been an active member of Air Ambulances UK and values the shared knowledge exchanged through its membership and via the regular direct dialog with other air ambulance charities. We cary blood on board our aircraft and have a vital and treasured partnership with the Blood Bank at both Lincoln County Hospital and QMC in Nottingham, as well as the Nottinghamshire Blood Bikers and the Lincolnshire Emergency Blood Bikes Scheme. This precious resource often gives our most seriously injured patients a better chance of surviving ihe most traumatic of injuries. Page 7

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Risk Management The Charity has a comprehensive risk management policy in place vthich includes our Risk Register, Risk Management controls, Internal Controls and Risk Assessment processes. The department leads review deparlmental risks monthly viith our designated Senior Information Risk Owner (SIRO). Risks are presented with probability and impact scores alongside mitigation measures. The Board of Trustees review the Risk Register on a quarlerly basis and have constant access to the Risk Register to enable regular scrutiny of the risks we face. The most signlficant risks to the Charity in the last year are the financial aspects of a sustained period of high inflation, financial and operational risks associated with a cyber-attack and reputational risk due to adverse publicity against the Charity or the charity sector in general which impacts our ability to raise sufficient funds. Health & Safety The Charity is committed to promoting a positive safety culture in accordance with its H&S Policy. The Health & Safety Committee meets quarterly and includes a Lead Trustee responsible for Board H&S oversight. Staff, crew and volunteers receive regular training in Health & Safety. Safeguarding The Chariws Safeguarding Policy aims to protect the health. wellbeing and rights of all individuals. All staff, crew, volunteers and Trustees complete appropriate safeguarding training. There is a designated Trustee who is the Board's Safeguarding Lead. Regulation As a registered Charity, LNAA is regulated by the Charty Commission and the Gambling Commission for our Lottery and Raffle programmes. We are also subject to regulation by the Care Quality Commission, the Civil Aviation Authority, the Information Commissioner and the Fundraising Regulator. Achievements & Perfomiance . Income generation to fund our service We do not receive any government funding for our day-to-day operations. Instead, we rely on the support of the local communities we serve to fund our life-saving service. Despite the economic challenges of the last few years, our wonderful supporters have continued to fundraise and donate, for which we remain incredibly grateful. Our income generation goal is to raise sufficient funds to cover all expenditure. as well as generate funds to invest in future service expansion and development. We have continued to significantly invest in our fundraising programmes during the year to increase our resilience and to ensure the chariws long-term sustsinability. Our team of staff and volunteers worked hard to deliver very strong financial performance for the year. A number of very kind-hearted and generous individuals left us a gift in their Will, more than any other prior year, helping us to achieve a healthy surplus a significant part of which Trustees have designated for Servi￿ expansion to enable us to reach more patients. Summary of Financial Results Total Income 2023124 {£) 13,584,159 11,116.275 505,949 2,973,833 2022123 {£) 10,781,974 9,256,285 {581,989} 943,700 Total Expenditure Net gainsl{losses) on investments Net Income Page 8

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report In order to deliver on our organisation Strategy, we need to signfficantly increase our income over the next 3 years. We are now 2 years into our 5-year Fundraising Strategy and despite the continued challenging economic environment we are tracking close to our projections. We'd like to thank all those who kindly and generously support our work. We are committed to upholding the highest fundraising standards and are registered with the Fundraising Regulator. the independent regulator of charitable fundraising who advocates best practice for the sector. In line with our robust policies and procedures, we strive to ensure that our income generation activities adhere to Data Protection legislation as set out by the Information Commissioners Office. Charity Commission guidan￿ and the Code of Fundraising Practice. Our range of fundraising programmes include Lottery, Legacy. Individual Giving, Events, Community, Corporates and Retail. Although we began the year with a forecast deficit budget, we are delighled to have outperformed our targets. ending the year in a surplus position. Given our increasing costs and the challenge of fundraising in the current climate, this is a fantastic result. Total income this year is £13.584.159 an increase of £2.8m on the prior year. We have been particularly humbled by the wonderful Legacy gifts left to us. which this year amounted to £5.7m. This unusually high Legacy income is the reason why we ended the year in a surplus position and are able to plan and invest in service expansion. Legacies are. however. by their nature unpredictable and therefore cannot be accurately forecast or predicted. Our lottery programme is a vital Sour￿ of income and is delivered in partnership with Tower Lotteries. Canvassers working on our behalf are committed to abiding by the Canvassing Code of practi￿ and all undergo a comprehensive training and induction programme. Training includes codes of practi￿ for social responsibility and the protection of vulnerable people. Our contract with Tower Lotteries, who are licensed by the Gambling Commission, is regularly reviewed and performance monitored. We also undertake 'mystery shopping, of our canvassers to ensure best practice is being demonstrated. alongside the correct presentation of our Charitls work and mission. Quality checks are also undertaken with members of the public who sign up to our Lottery. Lottery income for the year was £4.3m. Where appropriate, we work in partnership with reputable professional fundraisers and commercial participators to raise funds - with robust written agreements and monitoring programmes in place. Oversight and governance of our income generation programmes is monitored by the Income, Comms & Marketing (ICM} Committee, comprising of three Trustees, the CEO and members of the Leadership Team. The ICM meets quarterly, ahead of the Board Meetings. to review progress against objectives. As a Charity wholly reliant on generating the income needed to provide our life-saving service, it's vital that we constantly monitor the economic environment and its effect on our ability to raise the funds we need. To mitigate, the Board has a Reserves Policy which aims to achieve 12 to 15 months, operating costs. Retail Following several very difficult years for high street retail, we are undertaking a thorough review of our small retail portfolio. We are behind our original timeline for delivering the outcome of this review but aim to catch up in the upcoming quarter. This review will inform a new Retail Strategy which will be presented to Ihe Board for consideration. Total income from trading activities remained consistent with the prior year. totaling £487k. Our retail team of staff and volunteers have worked incredibly hard to maximize income from the treasure trove of donated items given to the charity during the year. The tolal monies to be transferred from the Ambucopter Trading Company to the Charity and donated under Grft Aid amounts to £61.421. Page 9

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Operational Performance Our highly trained specialist clinical crew provide pre-hospital critical care for seriously sick or injured patients across Lincolnshire. Nottinghamshire and beyond. This is a level of care that the NHS are unable to provide in the pre-hospital environment. This year has been our busiest on record, having been tasked to 1.794 (1.684 last year) potentially life-saving missions which represents an average of just over 4.9 missions in every 24 hours. A total of 656 of these missions were undertaken in the hours of darkness. Mission numbers have more than doubled in the last 5 years and we are currently reviewing how we can reach even more patients. Location of taskings." 620/0 of taskings took place in Lincolnshire, 33 % in Nottinghamshire and 5 % in surrounding counties. Helicopter Emergency Medical Service {HEMS) delivery: Key Performance Indicators: FY2023124 Total Missions 1,794 °/0 Missions by incident type Road Traffic collisions 29¥0 Accidental injury Medical emergency Assault Intentional Self-harm Sports & Leisure Other 3% We deliver our patients to a range of hospitals across the region, depending on their clinical needs. In the year under review, the four main hospitals we conveyed our patients to were Queens Medical Centre in Nottingham, Sheffield Northern General, Lincoln County Hospital and Hull Royal Infirmary. Of the patients we came into contact with, just over 650/0 were male with the main age bracket being 50-59 years for males and 30-39 years for females. Our crew treated 44 patients under the age of 9. In comparison to the prior year (FY 2022123). the main age bracket was 50-59 for both males and females. and 42 patients under the age of Clinical delivery Our clinical team have delivered the follovling in the past year: Reached more patients than the year before Safe, high-quality, well-governed patient care Recruited and trained additional paramedics and doctors who specialize in pre-hospital care in order to expand our service delivery Maintained a strong internal clinical governan￿ framework Enhanced our clinical skillsel through a comprehensive training programme Strengthened the team's surgical skills Provided a night HEMS capable clinical crew to reach patients in need during the hours of darkness Page 10

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Impact Through a Mou with East Midlands Ambulance Service, V￿ adhere to strict confidentiality regarding the patients we see. Although we can quantify the number of missions we are called to, the number of patients we airlift. as well as categorize the types of incidents we attend, we are not currently able to identify all patient outcomes following their handover at hospital. All missions are captured on our HEMS Base database to enable tracking, monitoring and analysis of patient groups, mechanism of injury etc.. all of which helps to infomi service improvements. Our Patient & Family Liaison Officers (PFLO'S) offer support to those involved in an incident which our critical care crew have attended. This can be the day after, the month after or even the year after the event. During the year, our PFLO'S have had supportive interactions with an increasing number of former patients and their families, making contact with almost 900 former patientslformer patients. families, and hosting over 60 visits to our airbase to connect former patients with the crew who treated them. Through the support of our Patient & Families Liaison Officers, patients and their families can often provide valuable feedback to our clinicians, both on the care delivered and their progress post-incident. Financial Review The Charity receives no direct government funding for its day-to-day operations. We rely on the support, donations and contributions made by individuals, grant giving bodies and corporalions to sustain our vital work. Despite another difFicult economic year. the Charity ended the year in a strong financial position. Total incoming resources increased to £13.6m (2023 - £10.7m). Total resources expended increased to £11.1 m (2023 - £9.2m). Expenditure As in the prior year, expenditure rose across all areas. reflecting continued inflationary pressures but also increased charitable activity. In addition, increased fundraising activity comes with associated costs, and the charity has consciously invested in sustainable income programmes, improving systems and data analysis across all areas of activity. Overall, costs remained below original budget assumptions in many areas of the charity. Reserves The Trustees regularly monitor the Charitvs reserves against plans and budgets and considering the main risks to the organisation. The Reserves Policy is reviewed annually by the Finance & Audit Committee and its proposal adopted by the full Board. Our current policy is to achieve a level of reseNes sufficient to sustain the operation of our air ambulan￿ Charity for a 12 to 18 month period. In accordance with the Charity Statement of Recommended Practice (SORP), the Charity holds two types of reserves.. a. Restricted Reserves - for example. donations for a specffjic project or piece of equipment. b. Unrestricted Reserves - made up of Designated Reserves and General Reserves. Designated Reserves are unrestricted funds which the Trustees designate for specific purposes such as service expansion. capital asset purchase. General Reserves are unrestricted reserves to manage operationallcash flow needs and to provide contingency for unexpected events or operational requirements. Total reserves stand at £22,439,334, made up of £2,728,299 Restricted Reserves and £13,610,535 of unrestricted funds. This excludes Designated reserves of £6.1 m for the expansion of our service delivery in order to reach more patients. Page11

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report The charity maintains a rolling 5-year budget forecast which is reviewed at least annually. Due to the life-saving nature of our work, we take a low-risk approach with regards to reserves. as restriction or closure of our service would be catastrophic to the communities we are here lo serve. In setting our Reserves Policy consideration is given to the resilience of our various income streams and over reliance on any one particular income stream. Trustees take a risk-based approach when reviewing our reserve levels with consideration given to future operational and capital expenditure, the level of general funds required to maintain long-term security of our activity and the economic conditions. Our financial position remains healthy. but the Trustees are very conscious of the liabilities and commitments we have, especially in the leasing and operation of aircraft. and the fact that we are entirely reliant on public donations for our income. Having regard to the above, the Board's long-term objective and foreseeable demand-led expenditure profile, the Board recommends a target for General Reserves to cover up to 12 months of future forecast charitable expenditure, subject to short-term reductions to a minimum of 6 months to support strategic asset investment and operational requirements. . Free Reserves The free reserves of the group as of 31 March 2024 are £10.896,747 representing 14 months of charitable expenditure which is considered by the Board to be in line with their Reserve Policy. . Investments The Charity has adopted an investment policy which minimizes financial risk. Enough funds to sustain the day-to-day operation of the charity is held in Current and Tracker accounts, as well as Investment Accounts. The Trustees, policy is to enhance the real value of monies invested, through a combination of income and capital growth and to maintain and build on reserves where possible to ensure the charity can cover future costs and have the ability to extend the service as required. To this end. funds have been deposited in a Brewin Dolphin Managed Investment Fund. Brewin Dolphin provides the charity with monthly statements of the fund's performance, which are reviewed by the Finan￿ & Audit Committee. Personnel from Brewin Dolphin attend a Board Meeling annually to discuss performance and future investment possibilities. The Board of Trustees have empowered the Finance & Audit Commiltee to regularly review Ihese investments and to report progress to the Board and to maximize Ihe return on reserves held by the charity whilst ensuring this is done within the portfolio risk framework. The Charity held stocks and shares as of 31 st March 2024 with a market value of £7.950,568. These investments are the major element of the Charitys free reserves. Income from the portfolio is reinvested. For this financial year, a total income of £203,671 was generated from investments. Qualifying Third Party Indemnity Provisions: Qualifying third party indemnity provisions made by the Charity are in for￿ for the benefit of the Trustees. Our Future Plans The upcoming year will be the final year of our current Strategy and viill include the following: Expansion of our Nottinghamshire Critical Care Car from 12-hour coverage, 4 days a week to a 12-hour. 7 day a week service Further investment and expansion of our Income Generation activities to ensure future sustainability and to enable further Servi￿ expansion Training clinicians in advanced interventions Research and development of further service expansion options Re-evaluate and plan for a new retail landscape fit for present day and current trends in the Charity sector Development of a new organisalional Strategic Plan Page 12

Lincolnshire and Nottinghamshire Air Ambulance Charity Trustees. Annual Report Statement of Trustees. Responsibilities The Trustees (who are also the directors of Lincolnshire and Nottinghamshire Air Ambulance Charity for the purposes of company lawl are responsible for preparing the Trustees. Annual Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Trustees to prepare financial ststements for each financial year. Under company law the Trustees must not approve the Iinancial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the parent charitable company and the group and of the incoming resources and application of resources, including ils income and expenditure. of the charitable group for that period. In preparing these financial Statements, the Trustees are required to.. select suitable accounting policies and apply them consistentiy; observe the methods and principles in the Charities SORP", make judgements and estimates that are reasonable and prudent." state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any malertal departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concern basis unless it is inapwopriate to presume that the parent charitable company will continue in business. The Trustees are ￿spOnsIble for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group 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 parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable cornpany's website. Legislation governing the Dfeparalion and dis5eminalion of financial slatements may differ from legislation in other iurisdictions. Disclosure of information to auditor Each member has taken steps that they ought to have taken as a member in order lo make themselves aware of any relevant audit information and to establish that the Charity's auditor is aware of that infomiation. The Trustees confirm that there is no relevant information that Ihey know of and of which they know the auditor is unaware. Thea nual report was approved by the Trustees of the Charity on 6 November 2024 and signed on its behalf by.. G L Secker Trustee (Chairl Page 13

Lincolnshire and Nottinghamshire Air Ambulance Charity Independent Auditorfs Report to the Members of Lincolnshire and Nottinghamshire Air Ambulance Charity Opinion We have audited the financial statements of Lincolnshire and Nottinghamshire Air Ambulance Charity (the 'charitable parent companrf) and its subsidiaries (the 'group') for the year ended 31 March 2024. which comprise the Consolidated Statement of Financial Activities. Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Ac￿pted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and charitable parent companrfs affairs as at 31 March 2024 and of the group's incoming reSoUr￿S and application of resources, including ils income and expenditure, for the year then ended" have been properly prepared in a￿ordanCe with United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibililies under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and charitable parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the resF)onsibilities of the Twstees with respect to going con￿rn are described in the relevant sections of this report. Other information The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 14

Lincolnshire and Nottinghamshire Air Ambulance Charity Independent Auditor's Report to the Members of Lincolnshire and Nottinghamshire Air Ambulance Charity Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the and Trustees. Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the and Trustees, Annual Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the and the Trustees, Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion-. adequate and sufficient accounting records have not been kept by the parent charitable company. or returns adequate for our audit have not been received from branches not visited by us" or the parent charitable company financial statements are not in agreement with the accounting records and returns. or certain disclosures of Trustees remuneration specrfied by law are not made,. or we have not received all the information and explanations V￿ require for our audit. Responsibilities of Trustees As explained more fully in the [set out on page13]. the Trustees (v4ho are also the directors of the charitable parent company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern. disclosing, as applicable, malters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the charitable parent company or to cease operations. or have no realistic alternative but to do so. Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect 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 to influence the economic decisions of users taken on the basis of these financial statements. Page 15

Lincolnshire and Nottinghamshire Air Ambulance Charity Independent Auditor's Report to the Members of Lincolnshire and Nottinghamshire Air Ambulance Charity The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: Discussions with management, including consideration of known or suspected instances of non-compliance held. Challenging assumptions and judgements made within significant accounting estimates and judgements such as depreciation. Identification of key laws and regulations central to the charities operations and review of compliance with such laws including a review of Charities Commission website. Testing of journal entries and potential override of systems. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that Complian￿ with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealement, forgery collusion, omission or misrepresentation. Use of our report This report is made solely to the charitable parent company's Trustees. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's Trustees those malters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the charitable parent company and its Trustees as a body, for our audit work. for this report, or for the opinions we have formed. Carrie Anne Jensen ACA (Senior Statutory Auditor) For and on behalf of Forrester Boyd, Statutory Auditor 26 South St. Marls Gate Grimsby North East Lincolnshire DN31 1LW 6 November 2024 Page 16

Lincolnshire and Nottinghamshire Air Ambulance Charity Consolidated Statement of Financial Activities for the Year Ended 31 March 2024 {Including The Consolidated Statement of Comprehensive Income) Total 2024 Total 2023 Unrestricted Restricted Note Income and Endowrnents from: Donations and legacies Charitable activities Other trading activities Investment income 7.204,768 5,237,818 487,328 252.075 402.170 7.606,938 5,237,818 487,328 252,075 5.865,617 4,186,535 497.750 232,072 Total Income 13,181,989 402,170 13,584.159 10,781,974 Expenditure on: Raising funds Charitable activities (2,976,747) (7,659.147) (2,976,747) (1,752,388) (480,381) (8,139,528) {7,503,897) Total Expenditure Gainsllosses on investment assets (10,635,894) 505,949 (480,381) {11.116,275) 505,949 (9.256,285) {581,989) Net incomel(expenditure) 3,052,044 (78.211) 2.973.833 943,700 Net movement in funds 3.052.044 (78.211) 2,973.833 943,700 Reconciliation of funds Total funds brought forward 16.658,491 2,807,010 19,465,501 18,521,801 Total funds carried forward 21 19,710,535 2,728.799 Unrestricted funds 22.439,334 Restricted funds 19,465,501 Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 5,514,823 4.186.535 497,750 232,072 350.794 5,865,617 4,186,535 497,750 232,072 Total income 10.431,180 350.794 10,781,974 Expenditure on: Raising funds Charitable activities (1,752,388) (7.262,453) (1,752,388) (7,503,897) (241,444) Total expenditure Gainsllosses on investment assets (9.014.841) (581,989) {241,444) (9,256,285) (581,989) Net income 834.350 109,350 943,700 Net movement in funds 834.350 109.350 943,700 Reconciliation of funds Total funds brought forward Total funds carried forward 15,824,141 2,697.660 18,521,801 21 16,658,491 2,807,010 19,465,501 The notes on pages 21 to 41 form an integral part of these financial statements. Page 17

Lincolnshire and Nottinghamshire Air Ambulance Charity (Registration number: 02788157) Consolidated Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Investments 13 14 5.088.021 7,950.568 5,242,271 7.207,833 13,038,589 12.450,104 Current assets Stocks Debtors Cash al bank and in hand 15 16 5.896 6.668.599 3.904,027 8.636 4.701,147 3.542,187 10.578,522 8,251,970 Creditocs". Anioiiiits lailii)9 due witnin one year 11,233,371 Net Current assets 9,402.367 7,018.599 Total assets less current liabilities 22,440,956 19.468,703 Provisions 19 (1,6221 22.439,334 13,2021 19.465,501 Net assets Funds of the group.. Restricted 2.728 799 2,807.010 Unrestricted income funds nrestr5ciea 19.710.535 16,658.491 Total funds 21 22,439.334 19,465..401 ?eie apyiJ¥èJ by the iiaSi¢e>. and aukhuilbèd Ioi 1>Sue o November 2024 and signed on their behalf by.. G L Secker Chair of ihe Board The notes on pages 21 to 41 form an integral part of these financial statements. Page 18

Lincolnshire and Nottinghamshire Air Ambulance Charity (Registration number: 027881571 Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Investments 13 5.081.533 7,950.570. 5.229.462 7,207,835 13.032,103 12,437,297 Current assets Debtors Cash al bank and in hand 16 6.627.342 3.876.262 4.895.092 3.409,330 10.503,604 8.304,422 Creditors- Amounts falling due within one year Net currpnt a55ets 17 11.160.480) 1,221,102) 9.343.124 7 083,320 Net assets 22,375,227 19,520.617 Funds of the Charity: Restricted 2 728.799 2 807,010 Unrestricted income funds Unr.-slricled 19.646 48 1fj?13n07 Total funds 21 22 375.227 19.520,617 '.N£brJ apprriyts8 by '.ttts TrJsttse>. 3p.a 3b.Inorisod fior l>QLlf Jp, ? November 2.24 and iigned on ihèSf behalf by GLSeck Chair OT the Board The notes on pages 21 to 41 fom an integral part of these financial statements. Page 19

Lincolnshire and Nottinghamshire Air Ambulance Charity Consolidated Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating activities Net cash income 2.973,833 943,700 Adjustments to cash flows from non-cash items Depreciation Investment income Profit on disposal of tangible fixed assets Lossl(profit) on disposal of investments Revaluation of investments 13 335,590 (252.075) 335,228 (232,072) (161,774) (29,553) 611,542 140,404 (646.354) 2.551,398 14 1,467,071 Working capital adjustments Decrease in stocks Increase in debtors {Decrease)lincrease in creditors Decrease in provisions (Decrease)lincrease in deferred income Net cash flows from operating activities 15 16 2,740 (1,967,452) (27,668) (1,580) {29,548) 6,951 (1,661,731) 458,006 (1,254) 21,393 19 527.890 290,436 Cash flows from investing activities Interest receivable and similar income Purchase of tangible fixed assets Sale of tangible fixed assets Purchase of investments Sale of investments Income from dividends 48,404 (181,340) 15,621 (164,486) 465,225 {739,699) 553,403 216,451 (1,990,423) 1,753,638 203,671 Net cash flows from investing activities (166,050) 346,515 Net increase in cash and cash equivalents 361,840 636,951 Cash and cash equivalents at 1 April 3,542,187 2,905,236 Cash and cash equivalents at 31 March 3,904,027 3,542,187 The notes on pages 21 to 41 fonn an integral part of these financial statements. Page 20

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity status The Charity is limited by guarantee, incorporated in United Kingdom. and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation. The address of its regislered office is: LNAA Headquarters HEMS Way Off Sleaford Road Bracebridge Heath Lincoln LN4 2GW These financial statements were authorised for issue by the Trustees on 6 November 2024. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented. unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) (Charities SORP (FRS 102)), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102). They also comply ￿th the Companies Act 2006 and Charities Act 2011. Basis of preparation Lincolnshire and Nottinghamshire Air Ambulan￿ Charity 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 notes. The accounts are prepared in sterling and are rounded to the nearest pound. Basis of consolidation The consolidated financial statements consolidate the financial statements of the Charity and its subsidiary undertakings drawn up to 31 March 2024. No statement of financial activities is presented for the Charity as permitted by section 408 of the Companies Act 2006. The Charity made a surplus after tax for the financial year of £2,854.610 (2023 - £806,115}. A subsidiary is an entity controlled by the Charity- Control is achieved where the Charity has the power to govern the financial and operating policies of an entity so as lo obtain benefits from its activities. Inter-company transactions, balances and unrealised gains on transactions between the Charity and its subsidiaries, which are related parties, are eliminated in full. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Page 21

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Going concern The Trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group. Income and endowments All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legacies Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to condilions that require a level of performance by the Charity before the Charity is enlitled to the funds. the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the administratorlexecutor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange. recognition is subject to the value of the gift being reliably measurable y￿th a degree of reasonable accuracy and the title to the asset having been transferred to the Charity. Grants receivable Grants are recognised when the group has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are atlached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Deferred income Income from the sale of lottery tickets is recognised when the draw it relates to has taken place. Any income received before the year end relating to a draw after the year end is accounted for as deferred income and carried forward to next year. Donated services and facilities Donated professional services and donated facilities are recognised as income when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordan￿ with Charities SORP (FRS 102), the general volunteer time is not recognised. Please refer to the Trustees, Annual Report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to Ihe Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. A corresponding amount of expenditure is then recognised in the period of receipt. Investment income Investment income on funds held is included when interest and dividends are recevable and the amount can be measured reliably by the Charity. This is normally upon notrfication of the income paid or payable. Page 22

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlemenl is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources and with central staff costs allocated on the basis of time spent. The charitable group is registered for VAT and its income and expenditure are shown net of VAT, to the extent it is recoverable. Raising funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Lottery canvassing costs are recognised as incurred. Charitable activities Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity Cost categories on a basis consistent with the use of resources, for example. on time spent by staff and utilisation of resources. Governance costs These include the costs attributable to the Charitrfs compliance with constitutional and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses. Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets (excluding investment assets) are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairrnent losses. There is no specific capitalisation threshold. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Freehold Sand Freehold property Fixtures, fittings and equipment Motor vehicles Depreciation method and rate Not applicable 300/0 and 33 % straight line 20°/o and 25 % straight line Page 23

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 The cost of land included in the balan￿ sheet but not depreciated is £210,077. Fixed asset investments Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or crediled to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO). Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price. less provision for impaimient. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recognised at the transaction price. Provisions Provisions are recognised when the Charity has an obligation at the reporting date as a result of a past event, it is probable that the Charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. Fund structure Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the group. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Page 24

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Financial instruments Classification The Charity only has financial assets and financial liabilities that qualtfy as basic financial instruments. Recognition and measurement Basic financial instruments are initially recognised at transaction value and subsequently measured at their seltlement value. Fixed asset investments are measured at fair value. with gains and losses being recognised in the Stalement of Financial Activities. Investments Investments in subsidiaries are measured at cost less impairment. 3 Income from donations and legacies Unrestricted funds General Restricted funds Total 2024 Total 2023 Donations and legacies., Donations & grants Legacies 1.486,220 5,718,548 402,170 1,888,390 5,718,548 1,686,222 4,179,395 7.204,768 402.170 7,606,938 5,865,617 The Charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS102 and the Charities SORP {FRS102}, the economic contribution of general volunteers is not recognised in the accounts. Volunteer hours are estimaled lo be approximately 16,000 hours. If we were to pay volunteers to carry out this work for us it would be at a minimum cost of £152,000 so the work of these individuals really is invaluable. Restricted donations received in 2023 amounted to £350.794. 4 Income from charitable activities Unrestricted funds General Total 2024 Total 2023 Lottery income Fundraising and solicited donations 4,347.728 890.090 4,347,728 890,090 3.678,905 507.630 5,237.818 5,237.818 4,186,535 Page 25

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 5 Income from other trading activities Total 2024 Total 2023 General Trading income" Shop income from sale of donated goods and services 487,328 487.328 497,750 487,328 487.328 497,750 6 Investment income Unrestricted Total 2023 Total 2024 General Income from dividends-, Dividends receivable from other listed investments Interest receivable and similar income- Interest receivable on bank deposits 203,671 203.671 216.451 48,404 48,404 15,621 252,075 252,075 232,072 Page 26

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 7 Expenditure on charitable activities Activity undertaken directly Activity support costs 2024 2023 Operation of air ambulancelcritical care cars 6,240,246 1,899,282 8,139,528 7,503,897 £7,764,777 {2023.' £7.262,453) of the above expenditure VRS attributable to unrestricted funds and £480,381 (2023.. £241.444} lo restricted funds, which includes depreciation of £160,751 relating to the new HQ, £10,725 relating to a schiller and £14.022 relating to a new vehicle which were partly funded by restricted capital grants. 8 Analysis of governance and support costs 8.1 Expenditure on raising funds a) Costs of generating donations and legacies Unrestricted Total 2023 Total 2024 General Note Other direct costs of generating voluntary income Allocated support costs 1,030,875 197,872 1,030,875 197,872 138,005 107,833 1,228,747 1,228,747 245,838 b) Costs of trading activities Unrestricted Total 2023 Total 2024 General Note Trading subsidiary costs Lottery Staff Costs 151,577 770,500 786,133 151,577 770,500 786,133 124,954 1,090,808 247,222 1,708,210 1,708,210 1,462,984 Page 27

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 c) Investment management costs Unrestricted Total 2023 Total 2024 General Note Other investment management costs., Amounts payable to investment managers 39,790 39,790 43.566 39.790 39,790 43.566 Page 28

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Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 9 Net incomingloutgoing resources Net incoming resources for the year include.. 2024 2023 Operating leases - helicopter operations Operating leases - property Audit fees Profit on disposal of tangible fixed assets Profiu (Loss) on disposal of investments Depreciation of fixed assets 3.080,182 53,157 14.033 3.188.315 53,093 13,562 (161,774) (29,553) 335,228 140,404 335,590 10 Trustees remuneratlon and expenses No Trustees. nor any persons connected with them. have re￿iVed any remuneration from the group during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 11 Staff costs The aggregate payToII costs were as follows: 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 2.147,655 219,382 133,011 1,778,503 174,504 87,399 2,500,048 2,040,406 The monthly average number of persons {including senior management team) employed by the group during the year was as follows.. 2024 2023 No Management and Administration Fundraising and Communications Operationallclinical Charity Retail Lottery 15 18 18 13 16 13 59 54 Page 30

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 The number of employees whose emoluments fell within the following bands was.. 2024 No 2023 £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,000 The total employee benefits of the key management personnel of the group were £560.222 (2023 - £526.927). 12 Auditors. remuneration 2024 2023 Audit of the financial statements 14.033 13,562 £2,000 (2022: £2.000) of the above amount was remuneration for the audit of the trading subsidiary. 13 Tangible fixed assets Group Land and buildings Furniture and equipment Motor vehicles Total Cost At 1 April 2023 Additions 5,306,086 726.764 125.710 246,650 6,279,500 55,630 181,340 At 31 March 2024 5.306,086 852.474 302,280 6,460,840 Depreciation At 1 April 2023 Charge for the year 373,772 171.560 439,997 135,471 223,460 1,037,229 28,559 335,590 At 31 March 2024 545.332 575,468 252,019 1,372,819 Net book value At 31 March 2024 4,760.754 277,006 50,261 5,088,021 At 31 March 2023 4,932,314 286,767 23,190 5,242,271 Page 31

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Charity Land and buildings Furniture and equipment Motor vehicles Total Cost At 1 April 2023 Additions 5,306,086 659,741 125,710 206,050 6,171,877 55,630 181,340 At 31 March 2024 5,306,086 785,451 261,680 6,353,217 Depreciation At 1 April 2023 Charge for the year 373.772 171.560 376.549 129.846 192,094 27,863 942,415 329,269 At 31 March 2024 545,332 506.395 219.957 1,271,684 Net book value At 31 March 2024 4,760,754 279,056 41.723 5,081,533 At 31 March 2023 4,932.314 283,192 13,956 5,229,462 Page 32

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 14 Fixed asset investments Group 2024 2023 Other investments 7.950,568 7.207.833 Other investments Listed investments Total Cost or Valuation At 1 April 2023 Revaluation Additions Disposals 7,207,833 7,207,833 646,354 646,354 1,990,423 1,990,423 (1.894.042) (1,894,042) At 31 March 2024 7.950,568 7,950,568 Net book value At 31 March 2024 7,950,568 7,950,568 At 31 March 2023 7,207,833 7,207,833 Charity 2024 2023 Shares in group undertakings and participating interests Other investments 7,950,568 7,207,833 7,950,570 7,207,835 Shares in group undertakings and participating interests Subsidiary undertakings Total Cost At 1 April 2023 At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Page 33

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Other investments Listed investments Total Cost or Valuation At 1 April 2023 Revaluation Additions Disposals 7,207,833 7,207,833 646.354 646,354 1,990,423 1,990,423 (1,894,042} 1.894,042) At 31 March 2024 7,950,568 7,950,568 Net book value At 31 March 2024 7,950,568 7,950,568 At 31 March 2023 7.207,833 7,207,833 Details of undertakings Details of the investments in which the Charity holds 20 /0 or more of the nominal value of any class of share capital are as follows: Proportion of voting rights and shares held Principal activity 2024 2023 Country of incorporation Undertaking Holding SubsFdiary undertakings Sale of souvenirs and donated goods to generate income for the benefit of Lincolnshire and Nottinghamshire Air Ambulance Charity Ambucopter Trading Company Limited United Kingdom Ordinary Shares 100.fi 1000/0 Page 34

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Subsidiaries The profit for the financial period of Ambucopter Trading Company Limited was £121,513 and the aggregate amount of capital and reserves at the end of the period was £66.397. 15 Stock Group Charity 2024 2023 2024 2023 Stocks 5,896 8.636 Group The cost of stock recognised as an expense in the year amounted to £9.720 (2023- £16,866). 16 Debtors Group Charity 2024 2023 2024 2023 Trade debtors Due from group undertakings Prepayments Accrued income VAT recoverable Other debtors 837 132 2,451 572.692 5,881,218 86.415 84,566 241,321 150,272 4,325,261 92,534 85,704 575,904 5,914,067 88,225 89,566 157,814 4.359,763 92,734 90,704 6.668.599 4,701,147 6.627,342 4,895,092 17 Creditors: amounts falling due within one year Group Charity 2024 2023 2024 2023 Trade creditors Trading subsidiary corporation tax payable Other taxation and social security Other creditors Accruals Deferred income 495.515 (8,691) 58,660 23.125 250.882 356,664 493,836 {8,691) 60.215 4,693 297,106 386,212 492,180 488.436 58,660 18,898 234,078 356,664 60,215 4.693 281.546 386,212 1,176,155 1,233,371 1,160,480 1.221,102 Page 35

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Deferred income Group 2024 2023 Deferred income at 1 April 2023 Resources deferred in the period Amounts released from previous periods (386,212) (356,664) 386,212 (364,819) (386,212) 364,819 Deferred income at year end (356,664) (386,212 Charity 2024 2023 Deferred income at 1 April 2023 Resources defeffed in the period Amounts released from previous periods (386,212) (356,664) 386,212 (364,819) (386,212) 364,819 Deferred income at year end (356,664 (386,212) Deferred income relates to lottery money received in advance. 18 Obligations under leases and hire purchase contracts Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows". Group Charity 2024 2023 2024 2023 Other Within one year Between one and five years After five years 2,937,681 11.723,944 120,064 3,230,926 12.866,127 1.350,170 2,912,736 11,651,944 120,064 2,850,036 11,400.144 2,967.515 14,781,689 17,447,223 14,684.744 17,217.695 19 Provisions Group Deferred tax relates to differences be￿een accumulated depreciation and capital allowances. 20 Pension and other schemes Defined contribution pension scheme The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £133,011 (2023 - £87,399). Page 36

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 21 Funds Group Balance at 1 April 2023 Other Balance at recognised 31 March Transfers gainsl{losses) 2024 Incoming resources Resources expended Unrestricted General 13,929,491 13.181.989 (10.635,894) (3.371,000) 505,949 13,610,535 Designated 2.729,000 3,371,000 6,100,000 Total unrestricted 16.658,491 13.181.989 {10.635,894} 505,949 19,710,535 Restricted 2,807.010 402.170 (480.381) 2,728,799 Total funds 19,465.501 13.584.159 (11,116,275) 505,949 22,439,334 Balance at 1 April 2022 Other Balance at recognised 31 March Transfers gainsl{losses) 2023 Incoming resources Resources expended Unrestricted General 13,824.141 10,431.180 (9.014,841) (729,000) 729,000 (581,989) 13,929,491 2,729,000 Designated 2,000,000 Total unrestricted 15,824,141 10.431,180 (9,014.841) (581,989) 16,658,491 2,807,010 Restricted 2,697,660 350,794 (241.444) Total funds 18,521,801 10,781,974 (9.256.285) (581.989) 19,465,501 Page 37

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 Charity Balance at 1 April 2023 Other recognised Transfers gainsl(losses) Balance at 31 March 2024 Incoming resources Resources expended Unrestricted General 13,984.607 12,742.110 (10,315,238) (3.371,000) 505,949 13,546,428 Designated 2,729,000 3,371,000 6,100,000 Total unrestricted 16.713,607 12.742,110 (10.315.238) 2,807,010 402.170 (480,381) 505.949 19.646,428 Restricted 2.728,799 Total funds 19,520.617 13,144,280 (10.795,619) 505,949 22,375,227 Balance at 1 April 2022 Other recognised Transfers gainsl(losses) Balance at 31 March 2023 Incoming resources Resources expended Unrestricted General 14.016,847 9.993,788 (8.715,039) (729,000) 729,000 (581,989) 13,984,607 2.729,000 Designated 2,000,000 Total unrestricted 16,016,847 9,993,788 (8.715.039) 350,794 (241.444) {581,989) 16,713.607 2,807.010 Restricted 2,697,660 Total funds 18,714.507 10,344,582 {8.956,483) (581,989) 19,520,617 Page 38

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 The specific purposes for which the funds are to be applied are as follows: LIBOR funding of £800,000 has been received for a capital building project and has been designated to restricted reserves. This has been fully spent and the balance is reducing as the property depreciates. Funding from Secretary of State for Health and Social Care of £1.818,200 has been receieved for a capital building project. This has been fully spent and the balance is reducing as the property depreciates. Funding has been re￿iVed from HELP for tangible fixed assets, which has been fully spent and is being reduced annually by depreciation. BNA has provided funding of £100,000 for equipment. some of which has been recognised as a fixed asset. At the year end £40,161 was carried forward to be spend in the next financial year. Lincoln Minster Round Table provided funding of £1,200 to purchase medical equipment. This has been spent in the year. Red Arrows Trust provided funding of £3,000 for winter tyres for the critical care cars, which was fully spent in the year. A donation was received of £40,000 to be used lOv￿rdS fuel and medical equipment. At the year end there was £17,169 carried forward to be spent in the next financial year. Funding has been received from The Jones Trust of £100.000. At the year end there was £80,246 Ca￿led forward to be spent in the next financial year. Further funding was received from HELP in the year of £106,594 for vehicles, this was not spent by the year end and the full amount is carred forward to be spent in the next financial year. Unrestricted funds are available for the purposes of the Charity, to be spent as the Trustees see fit in line with our charitable purpose. £2,000,000 of these funds had been defined as Designated Funds at 1 April 2022. Taking into account our emerging new strategy for the expansion of our service delivery in order to reach more patients, the Trustees have increased the amount in the Designated Funds to £6,100,000. Page 39

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 22 Analysis of net assets between funds Group Total funds at 31 March 2024 Unrestricted funds General Designated Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions 2.713,788 1,850,568 10,223,956 (1.176,155) (1,622) 2.374.233 5,088,021 7,950,568 10,578,522 (1.176,155) (1,622) 22,439,334 6.100.000 354,566 Total net assets 13,610.535 6.100,000 2.728.799 Total funds at 31 March 2023 Unrestricted funds General Designated Restrtcted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions 2.679,562 4,478.833 8,007.669 (1.233.371) (3,202) 13.929.491 2.562,709 5,242,271 7,207,833 8,251,970 {1,233,371) 3.202) 2.729.000 244,301 Total net assets 2,729.000 2,807,010 19,465,501 Charity Total funds at 31 March 2024 Unrestricted funds General Designated Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 2,707,300 1,850,570 10,149.038 (1.160,480) 13.546.428 2.374,233 5,081,533 7,950,570 10,503,604 1,160,480) 6,100.000 354,566 Total net assets 6,100,000 2,728,799 22,375.227 Total funds at 31 March 2023 Unrestricted funds General Designated Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 2,666.753 4,478,835 8,060,121 (1.221.102) 13,984,607 2,562,709 5,229.462 7,207,835 8.304.422 (1,221,102) 2,729,000 244,301 Total net assets 2,729,000 2.807,010 19,520,617 Page 40

Lincolnshire and Nottinghamshire Air Ambulance Charity Notes to the Financial Statements for the Year Ended 31 March 2024 23 Related party transactions Group Charity During the year the Charity made the following related party transactions: Ambucopter Trading Company Limited (100 % owned subsidiary of Lincolnshire & Nottinghamshire Air Ambulance Charitable Trust) Rent was charged to the subsidiary for use of the Mansfield Woodhouse charity shop of £18,250. There were also cross charges relating to salaries, fuel and donations of £63,682 and a management recharge of £29,199. Amounls payable to the subsidiary totalled £20,244 and related to fuel recharges. At the balance sheet date the amount due from Ambucopter Trading Company Limited was £2.451 (2023- £241,321). 24 Taxation The parent company is a registered charity and its activities are exempt from taxation. The trading subsidiary is subject to tax, but due to losses brought forward and gift aid payments there is no tax to pay for the year ended 31 March 2024. Page 41