HELP Appeail)-; H•lltrJpt* EM•r9v￿ Land1￿¥pl Cuttii .4irAmb Try￿1 Il County Air Ambulance Trust Board of Trustees, Annual Report and Consolidated Financial Statements for the year ending 30 September 2024 Annual Report of the Trustees of the County Air Ambulance Trust for 2023/24 Number Page INTRODUCTIONS I A WELCOME FROM THE CHAIRMAN, MICHAEL HENRIQUES 2 REFLECTIONS ON THE YEAR FROM THE CHIEF EXECUTIVE, ROBERT BERTRAM TRUSTEES, REPORT lincorporaling Companies Acl 2006 Strategic Fleport requirements) 3 ABOUT THE HELP APPEAL 4 STRATEGIC REPORT 5 FINANCIAL REVIEW 6 OUR THANKS 14 7 HOW WE SPEND OUR MONEY 16 8 OUR FUTURE FOCUS 18 9 REFERENCE AND ADMINISTRATION DETAILS 39 10 STRUCTURE, GOVERNANCE AND MANAGEMENT 21 FINANCIAL STATEMENTS INDEPENDENT AUDITOR'S REPORT 23 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDING 30 SEPTEMBEFI 2024 27 CHARITY STATEMENT OF FINANCIAL ACTIVITIES 28 CONSOLIDATED BALANCE SHEET 29 CHARITY BALANCE SHEET 30 CASH FLOW STATEMENT 31 NOTES TO THE CASH FLOW STATEMENT 32 NOTES TO THE FINANCIAL STATEMENTS 33 Welcome from the Chairman It's a great pleasure to welcome you to the County Air Ambulance Trust's Annual Report and Accounts for 2023/24. Our lundraising team have again contributed lo another excellenl year and we are very grateful to have again received some substanlial legacies. So many people and organisalions continued to supporl our work and the impact on our income is once again far ahead of expeclalions. Thal our stall and third party agencies delivered such a great performance is a wonderful tribute to Iheir dedication and sheer hard work. I Ihank them all lor everything they achieved over the year. 11 is a privilege lo chair this Board and I would like to thank the Trustees who have given freely both of Iheir time and their diverse and considerable expertise over the pasl year. Yel another very successful year has passed and we are fortunate lo be able to conlinue funding new helipads throughout the Country. We have also financed a total of over 30 specialisl Critical Care Cars which back up the air service and are specifically equipped to cope with Cardiac Arrest, Strokes and Sepsis. MieAael Hehrique¢ Reflection on the year by our Chief Executive Another rewarding year for the Charity LOOKING AHEAD The number ol enquiries for potential helipads at NHS hospilals increased significantly all over the country as hospitals were able to alter their locus following the pandemic. AND SUPPORTING NHS HOSPITALS CONTINUES Our income generation leams and Ihird party éundraising partners supporl and encourage individuals, clubs, businesses and other organisations to raise the vital income through weekly lottery sales, committed giving and payroll giving donors elc. It is Ihanks to them that we are able lo report another successful year lor the Charity. Over the coming months several helipads are planned to open al various locations from Scotland to the South Coast and we have been working with the NHS New Hospital Programme looking ahead at Ihe plans to build new hospilals with helipads. The number ol planned helipads over the course of the next few years is encouraging as Ihe speed ol gelting a palient to the Emergency Departmenl helps to save lives and aid recovery. APPRECIATION The Charity delivered income that topped £1 Om (consolidated}, 25/0 above budget and a profil of £6.6m (100/0 above budget). l am very proud at whal my leam and everyone we work with has achieved once again. In particular I would like to express my thanks lo Michael Henriques and all our Trustees lor their support this year. The contributions we have received Irom many different loyal supporters provided us with another excellent financial year. ko6ert 6ertkAkn FRfA The areas of fundraising income were broadly in line wilh Okjr budgets, with our lead income streams remaining consistenl. The HELP Appeal lottery subscriptions and monthly direct debit donors continued to provide a regular income. Legacy income al £1.4 million was ahead ol budget as was income from our Wills Campaign once again. We made a large number of grant paymenls lotalling £5.6m in the year and including granls to four Air Ambulance Charities for seven Critical Care Cars which are used when helicopters are unable to fly. Pag• About the HELP Appeal Since 2009, the HELP Appeal has been raising much needed funds lo provide lile-saving helipads where they are needed mosl. In Ihal time, we have achieved a good record of growth and we have idenlified a number of hospitals where helipads or upgrades are needed over Ihe next few years. Given Ihe scale ol work involved from building brand new helipads. improvements lo existing helipads, to the inslallalion ol the lalesl slale-ol-Ihe- art lirefighting technology, helipads with lighting to enable nighl flights and heated helipads so helicopters can land safely in freezing weather is where we spend Ihe majority of our funds. We aim to significanlly increase Ihe number of onsite hospilal helipads through our grant scheme which offers non-refundable grants to hospitals to help lund new helipads or upgrade exisling helipads. We are the onlv Charitv in the country dedicated to providing funding for NHS hospital's 4, life-saving helipads nationally k The process of helipad development is ongoing and we are involved in discussions with Major Trauma Centres and key A&E hospitals, where new helipads or upgrades are needed over the nexl few years and wheie we have agreed lo provide much needed funding. All undergo leasibilily sludies to CAAI standards and guidelines lo ascertain the most appropriale solutions lor their individual situations and needs. Charitable donations are our lifeblood., without this supporl, we and a huge number of helipads across Ihe country would not exist. We are determined that with the support of the general public and businesses we will be in a position to meet the challenges ahead. Our effectiveness relies, in large parl, on the powerful links we are able lo establish with many key partners. The big difference we are making is borne out by the high level of activity from Air Ambulances using the many new and upgraded helipads at locations right across the counlry. Helipads provide a vilal link in the patients, chain of survival and the HELP Appeal has been involved in a variely of important helipad projects throughout England and Scotland. It has already provided funding for many helipads at NHS hospilals. Nearly £60 million already donated towards over 50 completed helipad projects across the country. Over 29,000 landlngs have taken place on HELP Appeal funded helipads at NHS hospitals Over 40 new and upgraded helipads planned over the next 5 years. EVERY SECOND COUNTS and TIME IS LIFE... In an emergency, when time is of Ihe essence, being able to land a he￿IcOpter close to the Emergency Department increases the potential lor belter outcomes lor the most urgent patients. Helipads are an extremely benelicial addition lo the emergency services network,. crealing such safe places for air ambulance helicoplers with seriously ill or injured patients lo land directly al hospitals is exlremely imporlanl. 90 Trustees, Strategic Report INTRODUCTION and REFERENCE DETAILS We have always paid great allenlion to ensuring Ihal we have the highest standard of governance and a sound decision making framework supported by the highly effective Board of Trustees and governance structures. The Trustees are delighted lo present their Annual Stralegic Report together with the Consolidated Statement of Financial Accounts for the Charily and its commercial trading subsidiary, lor Ihe year ending 30 September 2024. BOARD MEETINGS The report has been prepared lo meel the requirements for a Diieclors, Report and Accounts for Companies Act purposes and to comply with fundraising reporting requirements. The Board meets four times a year which provides a forum for debate about major issues alfecling the Charily. Add itional meetings can be held as and when required and ad hoc working groups can also be formed to address a specific slralegic issue. Belween Board meetings Ihe Chairman will have weekly calls with the Ch iel Executive for any issues they wish lo d iscuss. The Financial Statements comply with Ihe Charilies Acl 2011, with section 414CI111 ol the Companies Acl 2006, the Statement of Recommended Practice (SOFIPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 effective 1 JanLJary 2015) Mallers such as policy and strategic plans are prepared by senior managemenl lor consideralion and approval by the Board. The key leadership team set up to lacilitate decision making al management level, includes the Chiel Executive, Head of Fundraising and Head of Finance but they do not have voting rights. This structure has been essentially stable throughoLtt 2023124. The Directors ol the Charity are ils Truslees for the purposes ol Charity Law and throughout this report are collectively referred to as the Trustees. LEGAL STATUS The County Air Ambulance Trust is a registered charity, and endeavours to follow the rules. regulations and guidance ol the Charity Commission.11 is incorporated under the Companies Act 2006 and is a company limited by guarantee, governed by its memorandum and arlicles ol association. We liaise with them lo review regulatory compliance and an overall performance standard lo ensure the Charity is well governed and legislatively compliant to meet our charitable objectives. There are three sub-commillees - Nominations, Inveslment and Remuneration. The Trading Company Directors also report lo the main Board. Each committee constitutes at least three Truslees and three Trustees serve as Directors on Ihe Trading Company, all with responsibilily lo oversee and review the processes of internal control and for making recommendations to the Board. Their names are listed on page 19. As al 30 September 2024 there were 13 Truslees, who are listed on page 19, each of whom guarantees liability ol £10 in the event ol the Charity winding up. For Ihe period of this return, there were no serious incidents that the Charily failed to reporl to the Charily Commission. STRUCTURE of tho CHARITY The Board of Trustees administers the Charity. 11 is made up ol independent members who undertake the role on a voluntary basis and who bring a broad range of professional skills, experience and experlise to the Charity. TERM OF OFFICE In all sorts of ways, we are a force lor good and see the benefils Ihal we deliver lo sociely that can make a real difference lo the lives ol the individuals and organisations we are set up to serve. Truslees are appointed lor an initial term of four years with the option for this to be extended by a further term ol four years. Truslees may be reappointed lor a further term of four years alter a one year break from holding office. The public benefit Is the non4efvndable grants that we provide to NHS hospitals and alr ambulance operators in support of the medical treatment of critically ill or injured members of the public free of charge to the NHS and lo the patient. The Trustees are by definition part-time and reli8nl on systems of assurance for them lo operate eflectively. The Board also meels wilh the senior external auditor al leasl once a year to review the findings of their work including any issues that might arise during ihe course ol the audit and recommendations regarding improvemenls lo the syslem of internal conlrol. GOVERNANCE As with mosl aspects of charily governance. the Board musl be seen to be doing Ihings in a fair and thorough manner and follows the Charily Governance Code issued in 2017 which sets oul the principles and recommended praclice for good governance. PUBLIC BENEFrr STATEMENT In selling our objeclives and planning our activities the Trustees have relerred lo Ihe Charilies (Proleclion and Social Investment) Act 2016 and the Charity Commission's general guidance on public benefit. We are committed lo the very highest possible slandard of decision making so that the Charity meets the requiremenls for public benefit across all Ihat we do. We pride ourselves on achieving and maintaining the highesl slandards ol propriely and take a proaclive approach lo ensure we are abreast ol new lundraising requirements and regulations. We Ma￿nIaIn our resolve to always act with integrity and in the interesls of our core purpose. The Board are satislied Ihal the current The Charity exists as a grant making Charily that Trustee membership has considerable relevant focuses on providing essential financial support experience lo provide an inlormed and rigorous to a wide ranging programme of necessary delegaled control and assurance on the improvemenls lo the Helicopter Emergency Medical Charity's governance of internal control and risk Services {HEMS} network, NHS hospilals and other management framework, within the Code principle medically related organisalions across the counlry, on decision making. with the goal of helping to ensure the best possible pre-hospital trealmenl and care for Ihose patients who suslain lile threatening injuries or illness. The relalionship we have with them makes a significanl difference lo people and to society as a whole. To establish the evidence of the benefits of our granl payments we have developed a programme ol reporting which provides robust data indicalors on the impact and outcomes that we help to provide in saving lives. RECRUITMENT AND APPOINTMENT OF TRUSTEES Truslees are encouraged to develop their knowledge and understanding of their role by visiling the Charity Commission's comprehensive website and, as part of ongoing training, they regularly receive charity law updates and presentations in relation lo operational and topical charity sector matters. The Nominations Commillee leads the process of selection of candidates for appoinlmenl to the Board ol Truslees and makes recommendations to the Board as regards plans for succession. New Trustees are appoinled by the Board in accordance with the Charily's conslilution and clearly defined Terms of Reference which were adopted at the Annual General Meeting held in May 2019. FUNDRAISING STRATEGIES AND APPROACHES This section ol the annual report covers the requirements charities musl follow as set out in the Charities (Protection and Social Investment) Act 2016. Recruitment is based on consideration ol the skills we need to enhance and strengthen the capability ol the Board and help lo make the Charity a more agile and responsive organisalion, mindful always o* the need lo rellect diversity and maintain a balance of individuals Ihat will be of benefit to the Charity. As a Charily that receives no national government funding, it is absolutely essential that we take an aclive and responsible approach to our range ol fundraising activities which are carefully planned to receive financial support through a variety ol means. They are elected by a majority vole normally for a lerm ol four years. Each Truslee will relire from Maintaining relevance with our supporters is vital off ice at the fourth Annual General Meeling lollowing to our success and we are commilled to providing the commencement of their term of Off ice. an excellent service to them and maintaining the highest slandards ol fundraising behaviour in all our fundraising activities. We are always conscious of Ihe responsibility we hold lowards our supporters, alongside our beneficiaries, and do our best to make those relalionships as meaningful as possible They give their lime freely and no Trustee received remuneration or other benefits from their work but the Charity reimburses reasonable exper)ses incurred by these volunteers in carrying out their duties. They are disclosed in note 10 to the accounts. TRUSTEE INDUCTION and TRAINING Fundraising policies are in place for all of our main lundraising areas and we make every elfort to ensure that our fundraising leam observes Ihe highest standards in terms of fundraising praclice. Aller being formally appoinled, all new Trustees are provided with a comprehensive Truslee handbook which includes informalion about the organisational slructure ol the Charity. Guidance on their roles and re5ponsibililies,' The Memorandum and Arlicles ol Association,. the decision making processes ol the Charily; Ihe lalesl Annual Report and Accounts- and the most current financial information. Our approach to lundraising is that it must never feel unreasonably Intrusive, persistent or pressurised but rather locuses on Inspiring support. This is aimed al helping them to understand the duties and responsibilities attached lo the position under Charity and Company Law so Ihal they can conlribule lo Board meetings as quickly as possible. They are expected lo act in a professional manner and to follow the Fundraising Regulator's Code of Practice. Our Head of Fundraising oversees these fundraising approaches lo make sure that our good engagement with supporters remains the key to our success. We treat them respectfully and fairly so they leel valued and free lo donate when and if they wish to do so. They operate under our guidance and light governance arrangements require them lo perform and support our fundraising activities within the remit ol the Fundraising Regulator framework, and all the appropriate regulatory bodies. TRAINING Our experienced Gambling Commission accredited exlernal lollery managers provide extensive training to ils representatives Ihal focus on gambling and fundraising regulalion, and the standards ol behaviour that are expected by us when they interact with the public on our behalf. AIS donations are formally acknowledged in Ihe most appropriate method. We are registered with Ihe Fundraising Regulator and our activities are carried out with reference to the guidance and standards set out in the Code of Fundraising Practice. We are also licensed by the Gambling Commission to run our HELP Appeal lottery and raffles. Canvassers are qualified as 'Dementia Friends, through the Alzheimer, Society's accreditation to prolecl vulnerable persons. They also wear our Charity brand and carry identification whilsl canvassing in the communily. We continue to monitor amendments to the Code ol Fundraising Praclice lo make sure we comply with the lalest fundraising standards and our policies are updated in line wilh these. Like the Charity, they are a member of The Lotteries Council, through which we conlribute to efforts lo encourage responsible rather Ihan problematic gambling. We are salisfied that we meet all current standards and we also weave this approach through our third- party external lundraisers. MANAGING COMPLAINTS WORKING WITH EXTERNAL ORGANISATIONS In 2023124 we received 38 fundraising complaints from members of the public. We always aim lo respond promptly and courleously to complainls in accordance wilh our published complaint procedure. While mosl of our fundraising work is undertaken by our directly employed lundraising team whose prime role is to provide information, supporl and stewardship for those people, clubs and organisations participating in lundraising evenls to raise lunds on our behalf, where we do not have the expertise in house, we do work alongside professional fundraisers lo help deliver some ot our face-lo-lace fundraising activity. A very high proportion of these complainls continue lo be moslly related to expressions ol dissatisfaction at the melhod of recruiting donors by our third party fundraising agencies and were relatively minor in nature. All conlracts and partnerships that we enter into are subjecl to due diligence and professional advice, il necessary, from our legal advisers. They detail the obligalions of each organisalion and we closely monitor canvassing aclivities undertaken though regular reviews and compliance meelings to thoroughly appraise the service provided, as well as updates on our aclivilies, such as the ongoing helipad program. They are reported lo the Board, by the Head ol Fundraising on a quarterly basis, who review Ihe number and general nature ol them and any areas ol risk that might need lo be addressed. Although unwelcome, the number of complaints received is slalislically very low considering the extent ol canvassing undertaken, and does not give the Board undue cause lor concern. P*g• VULNERABLE PERSONS We also lake our responsibility to protect vulnerable persons seriously. We remain committed to the prevention of fraud and the promotion of an anti-fraud culture. We follow besl praclice guidance and make sure all our agency partners are fully aware of this. In 2020, we implemented a robust policy and developed guidance for all staff on engaging with people iri vulnerable circumstances. This policy lollows Charity Commission and Charlered Inslilule of Fundraising recommendations. CYBER SECURITY With cyber crimes becoming more and more common, the change in working habits brought about by the Covid-19 pandemic crisis has seen the Charity continue lo place specific emphasis on ensuring that the highest possible standards of information security are in place. Our policy for working with members of the public who could potentially be vulnerable is CONSTANTL Y reviewed and updated. With information increasingly being held digitally, we recoginse Ihal any digital fraud or Ihell would have a grealer impact than it would ever have done in the past. As we have somelhing of value that is worlh something to olhers, we have to remain vigilanl and prepared al all limes. SAFEGUARDING We have a Safeguarding Policy reflecting the importance of this in the Charily's work Ihal is aimed al protecting the wellbeing and rights of anyone coming into contacl wilh us. For Ihis reason we produced a policy on Cyber Securily, based upon the National Cyber Security Centre guidance for small charities, to help protect Ihe Charity from the most common cyber attacks and for everyone lo refer lo when they need advice or guidance related to cyber security law and cyber crime. During lockdown we reviewed and updated the policy which sets out our approach lo protecting our beneficiaries, supporters, slaff and potential donors to ensure robust procedures are in place and everyone working for the Charity abides by it. Cyber security has been at Ihe heart ol this year's governance review so Ihal we remain abreast ol cyber developments to ensure that we can swift respond lo any changes in the cyber risk landscape. P•90 Financial Review This section summary on the key fundralslng activities underlaken during the year includes the subsidlary trading company. INCOME & INVESTMENT A real change has happened in the fundraising landscape and thanks to the generosily of the public, organisations and our weekly lottery has helped us lo keep funds coming in as Ihe country and economy recover from the pandemic. They are summarised as follows.. The financial results for the year are set out in pages 23 10 50 of this report. FUNDRAISING STATEMENT To ensure we can conlinue to provide vilal financial support for our beneficiaries we need reliable and broad income streams. So many people continued to support our work during the year and helped to make the work outlined in this report possible. OiJK consolidated income was £1 0.045m. a increase of 3trA from last year's The Charity does not receive any funding from central Government or local authority bodies, the Nalional Lottery or from outside ol the UK. £9.783 Donations and Legacies of £3.636m 12022123 - £3.4691 a increase of 4 %. Trading ir+come of £6,069m 12022123 - £5.920ml predominantly from our well SUPPOfled HELP Appeal lotlery subscri,'plions. We always strive lo maintain a range of income each financial year to ensure that the majority of the funds received by Ihe Charity are spent on our charitable cause. Every pound donated adds up io vital support for our work. Investment income 01 £238,000 12022123 £207,000). We understand that everyone gives according lo their means, with the Charily being reliant on people who give small amounls in our collection boxes. as well as businesses, clubs and corporate donations. The response we have been receiving from Ihem has been extremely positive and encouraging an(J we can only do whal we do because of them. There might have to be some financial modelling going on in the next financial year, lo reflect our ability to generate funds Ihrough community, corporate and fundraising events. However. we are constantly planning ahead to generale the financing required to sustain our grant funding programme, our plans remain firm and we will move forward with them as soon as il's financially viable and sale to do so. Page HELP APPEAL LOTTERY and COMMITTED GIVING Making a legacy decision lakes time and Ihoughl, whilst the Charity does not aggressively market or target individuals to leave a legacy, the possibility ol leaving a gilt in a will is promoted through community engagement and on our websites. Players of the HELP Appeal weekly lottery and people who support our work through the monthly committed giving scheme have contributed £6.004m, and £1.137m respectively in playing a significant part in enabling us to conlinue our work during the year. The generosity of those who remember us in Iheir will is invaluable. We are incredibly gralelul lor the generosity of these supporters when naming our Charity in their wills. The future legacy pipeline also appears strong. We have arrangements in place to obtain feedback on people's experience of joining the lottery and committed giving programme to ensure quality and constancy of service. We are pleased lo report this is overwhelmingly positive. In fflemory donations are received Irom people who choose us as beneficiary to donate to in memory of a loved one who has sadly died. Roberl Bertram, Chief Executive, is regislered as Ihe relevant responsible person with Ihe Gambling Commission. They ensure thal the lottery returns and annual submissions lo Ihe Gambling Commission are completed on time. PAYROLL GIVING Donations of £248,00012022123 - £268.0001 were received from people giving £1 per week from payroll and we are extremely grateful to every single person. PROFESSIONAL WILL WRITING SERVICE COLLECTION TINS We are also delighted to be supported by a specialisl paralegal law firm located across the country, who as part of its National Charily Wills campaign, offers a professional Will writing service lo members of the public in exchange for a donation to the Help Appeal. During ihe year we had many shops, public houses, clubs, hotels, offices and other community buildings that allow us lo place collecting tins in their premises. Generating £122,565, down by 120/0 over 2023 once again reflecting the cashless society that is impacting this area of our lundraising. In the linancial year, almost 15,000 individuals have entrusled them lo write their Wills generating £592,659 in donations for emergency helipads so far. Their aim to surpass £2.Om, to help build more NHS hospital helipads across the country was achieved during the previous year. INDIVIDUAL and COMMUNITY GROUPS DONATIONS We received valuable donations lolalling £890,000 {2022123 £756,000} from individuals, many ol these amounts consisted of personal donalions, bul also sponsorship from family. friends and colleagues. GIFTS IN WILLS (Legacies) and in MEMORY DONATIONS Our support from legacies was strong and steady Ihroughout the year totalling £1.363m12022123 £1.507ml in essential funding. Legacies are by Iheir nature unpredictable and cannot be accurately forecast or predicted.11 remains the case that the majority of legacy donations come from people unknown lo the Charity who have simply not been able lo support us during their lifetime. However, sometimes those conneclions do exist. Page 0 10 CORPORATE SUPPORTERS Three ol the Trustees are also Directors ol the Trading Company,, this relalionship enables them lo report on their activities and performance lo the Board. We are proud to work closely with several corporate supporters including the Leek United Building Society who have been a generous supporter of our work since 2006. The kindness ol their donalion in 2023 01 £15,464 lilted their contribution lor supporting our work lo over £400.000. INVESTMENT POLICY and PERFORMANCE We report here on the Investment Policy which is to maintain and enhance the capital value of our assets and to produce, as far as possible, funding which is available to spend on projects towards new and upgraded helipads al Major Trauma Cenlres and key A&E Hospitals across Ihe country, and other urgent medical related emergencies. TRUSTS and FOUNDATIONS Grant applications are undertaken on a cyclic basis. During the year, grant income of £95,300 (2022123 - £62,350) was received. We are particularly gralelul lo the Jordan Foundation who have supporled our work since 1997. Their donation of £22,000 lifted their contribution lor supporting in excess of £420.000. Our investment activities were supported by Rathbones Inveslmenl Managemenl together with Ihe Board investment committee, who also measure perlormance against established market benchmarks Ihat are regularly beaten during the year. MARKETING Our focussed and largeted marketing campaigns have been successful in conlinuing to create awareness of the HELP Appeal. We are building on this profile to ensure that our fundraising aspirations are achieved and then applied to maintain a facility, which anyone of us mighl need al anytime. All inveslmenl income is reinvesled in the portfolio., including ihe £238,000 generated over the past year. We have direct access lo the specialists managing our investments who provide a bespoke and common sense approach lo delivering steady, risk adjusted returns for the Charity over lime resulling in a porllolio that meets our needs. TRADING SUBSIDARY The Charity is supported by County Air Ambulance Trading Limited, (Company number: 083088601 registered in England and Wales and wholly owned by the Charily. We consider il essential that in making investment decisions our investment managers lake account of acceptable codes ol management conducl and praclice in terms ol socially responsible, environmenlally aware and ethical managemenl, all ol which could affect Ihe investment portfolio. Under the guidance ol ils Directors, Ihe company operates independently of the Charity in accordance wilh Charity Commission guidelines and is used for Irading aclivilies, primarily the HELP Appeal weekly lottery, the Charity's largest income stream, and lor generating awareness ol the Charity through ils activities. As al 30 September 2024 the total value ol all assets held with our fund manager was £12.4m {2022123 £10.7m). The Trading Company continued to achieve year on year results and a summary of these results appear in note 19 in the accounts. All funds are held in a separate bank account Irom the funds of the Charity. All profits generaled from the Company are released lo Ihe Charity as donalions. The subsidiary company made a return lo Ihe Charity of £3.7m (£3.7m - 2022123) in the currenl year under HMRC legislalion so Ihal no corporate tax becomes payable al Ihe linancial year end. REMUNERATION cOMMI￿EE The Risk Register is monitored by the Senior Management Team and each meeting of the Board provides an opportunity lor Ihe Trustees lo challenge them on whether they are taking sufficient mitigating actions to manage Ihe key risks Ihey have identified and the eflecliveness ol Ihe inlernal controls, especially in relation to core slrategic objectives. The role of the Remuneration Committee is lo oversee the remuneration policy lor Ihe Charily lo ensure that the reward package offered to staff is competitive so thal we ale able to recruit and retain them. Inability to do this is seen as a key risk to the Charily. The Committee includes a subset of Trustees with particular focus lo making sure staff are rewarded fairly through a review, on an annual basis, of a salary percentage increment for consideration and approval by the Board. They take account of affordability for the Trust, and the lacl Ihat il operates in the third sector, In this way the Board maintains oversight ol idenlified risks and is in a position to satisly itself Ihat proper measures and systems are in place, as far as reasonably possible, so that relevanl legislalion is complied with to miligale or eliminate any risk. All members of the Committee have the experience and skill lo make appropriate remuneration decisions. During ihe Covid lockdown the charily developed a bespoke pandemic impact policy and continuity plan to ensure that the Charity is prepared lo deal with factors beyond its control that could seriously impair its ability to continue normal working. An action plan is in place to gradually mitigate these risks, although il is recognised that this will not all be within the control of the Charity. RISK MANAGEMENT Flisk identification and management is a key process within the Charity al all levels. We have in place a comprehensive risk framework in line with best praclice and the requirements of the Charities Statement of Recommended Practice ISORP) (FRS 102), to assess any risks lo the Charity and implemenl risk management strategies. This slralegy seeks to minimise all operational and compliance risks to as low a level as is practicable given Ihe activities and responsibilities the Charity lulfils. Foremost for consideration are the principal risk categories ol strategic governance, financial risk including inveslmenls, income generation risk, reputational risk, data protection, and cyber security risk. The system ol risk management and internal control is designed lo minimise rather than eliminate the risk of failure to achieve the Charily's objectives and cannot provide absolule assurance against the risks that we lace Flisk Management is a standing agenda item al each half-yearly meeting lo ensure Ihal major risks to which Ihe Charity may be exposed are ieviewed and systems established lo mitigate those risks. Whereas the existing risk register has served us well, the Board agreed to adopt a new risk policy and risk register based on current legislative and besl practice. This included updates on cyber security and dealing with a pandemic to mention bul a few examples. Appropriate insurance cover and special advice has also been obtained. The Trustees are satisfied that, as far as is practicable, adeqLJate procedures and systems are in place to monitor, manage and where appropriate, mitigate the Charity's exposure to major risks. Page 0 12 RESERVES The need to provide a financial cushion in the event of extreme circumstances affecting our ability lo operate normally., The reserves policy has given the Charity the reliance to be able lo continue meeting ils charilable objectives and grant making provision even within times of great uncertainty. The need lo protect the Charily Irom investment market volalilily., The scale of our non-refundable financial grants to our beneficiaries is a massive undertaking for a charily ol our size and requires substantial financial resources each year and imposes substantial financial obligations on Ihe Board. Provide lor a 'Once in a lifetime rainy day,. The funds available in reserve as at 30 September 2024 - £13.5m up by £1.4m from lasl year. The Trustees consider this level of reserves posilion is acceptable and prudent given, in Ihe next 12 months. we anlicipale an increase in granl awards to cover the cost for NHS hospital helipad projects. Despite spending several million pounds on helipad projects at hospitals and air ambulance operational services each year, the strengthening of our reserves position plays a key role in helping the Charity in its core purpose. The majority (93/01 of the Charity's reserves are defined as unrestricled funds that the Trustees can use for any aspecl of ils charitable purpose. As required by the SORP, the pandemic crisis has reminded the Board just how important financial strength is in having good reserves to be able to draw on. The reserves policy is periodically reviewed to ensure that il remains appropriale as circumstances change. We need a consistently strong financial performance if our reserves are lo be sufficient to address our long-lerm planned projects. Our long- term intention is to improve our operating results and so lo maintain an adequate reserve level while growing our project spend for our beneficiaries. The Board has reviewed this policy lo consider the impact of Covid-19 on our charitable activities and on the level ol reserves held, The reserves policy underpins our financial sustainability and we have nol raided the reserves yel but so much depends on what happens next to ensure continuity ol our granl making programme over the years. Reserves are an inherent part of our risk management process and the need for them will vary depending on our financial posilion al a particular time. The need to maintain and strengthen reserves is assessed regularly taking into account the planned spending and budgeting process. The Board aims to maintain ils total unrestricted reserves level above £3 million which we consider prudenl lo ensure financial security and to provide lor contingencies. This threshold is reviewed and set by the Board following an assessment ol the following factors.. The need lo provide shorl-lerm protection when Ihere is a temporary period of reduced income, such as legacies,. The need lo provide long-term strategic financial support to fund planned helipad construction at key hospitals across Ihe UK. The need lo finance unplanned projects where the need arises., Saying our thanks W• would like to express our special thanks to: We have a tradition of recognising the people whose support has allowed us to flourlsh over the decades and are particularly grateful for the financial support that we regularly receive from: Charley Maher, Chiel Executive of South Staffordshire Group PIC for providing free office accommodation and facilities al their Walsall Headquarters lor over 28 years. The Alan Woodfield Charitable Trust Mrs Yvonne Flux Charitable Trust James Wise Charity Trust National Philanthropic Trusl Sambourne Trust M V Hillhouse Trust Florence Turner Trust Gordon Fraser Charitable Trust Lillie Johnson C Trust The Sir Robert Gooch Trust The Patricia Ann Buller Charitable Trust Sylvia Ailken Charitable Trust The Burford Trusl The Calherine Cookson CharitableTiust The Hospital Salurday Fund {HSF) The Grace Trust The Jordan Charitable Foundalion Robert Barr Charitable Trust Wands CharitableTrusl BNI Izaac Walton BP2017 (Haslingwoodl LLP Green Turtles Swimming Club Leek United Building Society Linton Festival Smelhwick Labour Club Sarah Banks (London Marathon) Viking Skips Sl Augustines Golf Club owhill Shoot Mr AG & Mrs SE Windsor Bledington Village Cotswold Hunt AO Arena Manchester All supporters of our Minchinhamplon Golf Event These provssions have enabled us lo focus our efforts on raising much needed funds in support of our air ambulance and hospital beneficiaries across the country. The role of volunteers is integral lo what we do, coordinating collection tins and raising awareness and support for the Charity within local communities all around the country. We value the huge supporl and encouragement we receive from Air Ambulance Charities around the country. This close cooperation is important in developing the nelwork of landing siles with direct access lo specialist Emergency Departments, to ensure that UK Helicopter Emergency Medical Services (HEMS) provides the very best service lo palients. In addition we are grateful for the support and advice sourced from: Anthony Collins LLP Solicilors Crombies Accountants Limited Ralhbones Inveslmenl Management PGMS Limited Smee & Ford Ltd Verbatim Call Services Kablooie Creative DWF Law LLP., Lottery Fundraising Services Wills Legal Services Civil Aviation Authority international Managers and slaff al - Lloyds Commercial Banking Barclays Corporale Nal Wesl Bank Special thanks musl also go those supporters who donate by our regular Standing Order, Direct Debit, Payroll Givers and Lottery Members lor their conlinuous support. Their overall support and advice is greatly apprecialed and ensues the Charity is well governed so maintaining the high standards and legislatwe issues. We appreciate that leaving a gift in a Will is a very personal decision and we are fortunate to have rec•ived 34 generous donations this year from the following p•ople who have also remembered the Charity In their Will: D Sherwood Maise Chambers Miss Margaret Bethune Gwendolen M Rosoman Mr Oliver Susan Pearson Roger Mills Maurice Purden Terence Clowes Eleanor Maylelt Kalhleen Poole Mrs Vera Lord Terrance Clowes Joan Cooke Frank Price Mrs Barbara Gunn Marjorie Stockley Frederick Harper Corrine Field Frank Price Norma Conn Nathan Perry's Jean Prichard Pauline Ross Ann Cox Eric Seaburn William Dallaway Frederick Harper Mrs Audrey Ovenden Ivor Gordon P•g• 0 15 How we spend our money Overall our non-refundable financial grants have long been Ihe underlying theme of the Charity. EXPENDITURE The costs of delivering our charitable activities in the year totalled £8.847m a increase of 30/ over last year. The expendilure resources are summarised here.. Through the 'HELP Appeal. we provide essenlial funding for life-saving helipads where helicopters can land directly at NHS hospilals so critically ill and injured patients have immediate access to the Emergency Deparlmenl. Overall we made combined non-relundable grant paymenls on delivering our charilable aclivities 01 £5.671 m12022123 £8.342m), a decrease 0132 %. We also distribute funding from Ihe 'Golden Hour, appeal primarily to support vital Air Ambulance operalional costs and infrastructure projects. Other emergency medical related organisalions such as BASICS benefit from our financial support loward their high response vehicles because- 'saving lime'_ 'saves lives,. Tolal expenditure on rarsing funds increased by £94,,000 10 £3,424m 12022123 £3.330ml:. breakdown as follows.. We believe that the impact of our non-relundable granls continues to improve palienl experience and survivabilily whilst adding value to the U K's heallh economy wilhoul cosl, in many instances, lo the NHS. a,} Trading activities £2.289m t2022123 £2.159ml of whtch Lollery managetnent costs of £2.024m. That is how we are playlng our important part n helping to save people's lives. b} Raising donations and legacies ¢1.10,2m (2022123 £1.119ml cl Investment management and advice cost8 £33,000 (2022123 £52,0001. Any surplus generated is held lor lulure Investmenl and to support the reserves policy laid clown by Ihe Trustee Board. GRANT PAYMENTS We make a linal judgment on the whole picture of public benefit having a positive impacl to improve Ihe patienls. experience. Grant maklng Is Ihe maln way the Charity carries out its charitable purposes. Granls payable are made in line wilh the strategic objeclives, and overall income increased sufticienlly to cover all grant payments in line with our expectations for the year. These granls conlinue lo add to our excellenl reputation at Ihe forefront of the UK HEMS network. We hope this report has given you a good sense of what we do and how we spend our money. When considering a grant application for financial support from an organisalion we do this based on all the facts and circumslances in relation lo Iheir clinical and operational service providing the very best patient care. A full lisl of our charitable granl payments is set out in Ihe Consolidated Slatemenl of Financial Aclivities on pages 38-40. Our future focus We know that the foundalions we have laid over our last 30 years gives us a slrong platform from which to be able to deliver our planned oulpuls and desired oulcomes, maintain the wellbeing of our staff and continue lo remain relevanl lo those emergency medical service providers who are in need of our financial support. OUR SUPPORTERS AND STAFF Our work is only possible thanks to the relalionship we have with so many different people and organisations. The kind donations they make lo us enable us to continue our financial supporl of air ambulance services, hospital helipad projects and other emergency medical providers across the counlry for the people who benefit from it. PLANS FOR THE FUTURE PERIOD INCLUDE: In the year ahead, whilst the fundraising climale remains challenging, we will relain a posilive outlook and conlinue our strategy of income diversificalion in olher markeis wherever possible to ensure sufficienl charitable funds are available to mainlain our grant spending in line with the changing circumstances. We will.. We would like to record our thanks lo all the slaff at Ihe Charity who show so much dedication and commilment to their work and lo the Charity and adopling working styles to accommodale homeworking. Both our stalf and supporters have remained at the lorefronl of everything we do. We could not have achieved what we did in 2023124 without you and the support of so many people and partner organisations. We thank you for everything you do. Engage with the general public to grow awareness of our Charity status and iepulation through lundraising campaigns and social media loo,, In approving this Stralegic Report, on the 301h April 2025, the Trustees do so in their capacity as company directors on behalf of the Board of Ihe County Air Ambulance Trust. Secure suslainable, long-lerm and diverse income slreams for our charity., Increase and develop the Charity's regular giving programme- GOING CONCERN Expand community fundraising when it's safe to do so to support delivering the Charity's non- relundable grants. Having reviewed the Charity's financial position and assessed the projected future granl projections, and associated cash flow forecasts, the Trustees have concluded thal Ihere is reasonable expectation thal the Charily (and its trading subsidiary) have adequale resources lo continue in operational exislence for the loreseeable future. Grow the HELP Appeal lottery- Secure granls and donalions Irom charilable trusls and foundations., Deliver Charity of Ihe Year initiatives and corporate parlnerships. For this reason the financial slatemenls have Iherefore been prepared on the basis that Ihe Charily is a going concern. Use the Charity's resources responsibly. Mlchael Henriques Chairman Paul Harris Director and Company Secretary Pa9e 0 18 Reference and Administration details The County Air Ambulance Trust is a private company, limited by guarantee and is regislered wilh the Charity Commission and Scoltish Charity Regulator. The Charily was incorporaled on l 0 April 1995 and was firsl registered as a charity in England and Wales on 24 July 1996. The Trustees and Dir•ctors Michael R Q Henriques, Chairman John L Jones DL, Deputy Chairman Paul J Harris, Company Secrelary Hugh B Meynell MBE Richard A S Everard OBE DL Dr Shaukat Ali Mrs Angela Brinlon DL Mrs Jane Bishop Hon. Arlhur G Vestey Tobias J J Askin Miss Julie Kirlbride Tom Heber-Percy Richard Arnold Registered Office: South Staflordshire Water Sile. Green Lane, Walsall. West Midlands, England, WS2 7PD. Contact Address: PO Box 999, Walsall, WS2 7YX Registered Company Number: 03044061 Re9lStered Charity Numbers: 1057063 (England & Wales} SC045963 (Scotlandl Trading Board Directors Paul J Harris Robert W Berlram FRSA Michael R Q Henriques Toby J J Askin KEY PEOPLE Honorary Patron Catherine, Lady Foresler DL Nominations Committee Paul J Harris, Chairman Michael R Q Henriques John L Jones DL Honorary Chairman Anna Turner, Lord Lieutenant of Shropshire Life President Hugh Meynell MBE Investmonl committee John L Jones DL. Chairman Michael R Q Henriques Hon. Arthur G Vestey Roberl W Berlram Vice Presldents Sir Algernon Heber-Percy, KCVO The Countess of Ayleslord The Duke ol Beauforl Professor Sir Keith Porter The Lord Slaflord Martin Thompson The Lord Vestey Robert Benlley Remuneration Committee Michael R Q Henriques Richard A S Everard, OBE DL John L Jones DL Senior Management Team Robert W Bertram, FRSA - Chief Executive Sally M Abboll - Head of Fundraising Carol A Follos Head of Finance Honorary Officers Michael R Q Henriques, Chairman John L Jones DL, Deputy Chdirman Paul J Harris, Company Secrelary THE CHARITY'S ADVISORS Princlpal Bankers Lloyds Commercial Banking, The Bridge, Walsall, WS1 1 LU Independent Auditors Crombies Accountants Limited 34 Waterloo Road, Wolverhampton, WV1 4DG Barclays Corporate Banking, Barclays House, Ocean Way, Southampton, S014 3TJ Solicltors Anlhony Collins LLP, 134 Edmund Slreet, Birmingham, B3 2ES Nat Wesl Bank, 57 High Street, Christchurch Dorsel, BH23 1 BB Investment Managers Ralhbones Investment Management 8 Finsbury Circus London, EC2M 7AZ 10 Structure, Governance and Management GOVERNING INSTRUMENT Originally founded in 1993 the County Air Ambulance Trust is a private company Inumber 030440611 governed by ils Memorandum and Articles of Association which were amended by special wrillen resolution ol the Board of Trustees dated 2 May 2019. Objectives and activities The principal aim of the Charity is to generate income from fundraising activities to promote, develop and enhance support lor the provision of Helicopter Emergency Medical Services I'HEMS'I. These fundraising activities are planned lo maximise our income and build the Charity's brand. The Charity primarily operates in England and Wales, also in Scotland where we have a number of important hospilal helipad projects. The total income and expenditure figures for Scotland are shown separately in the slatemenl of financial activities on page 36. The Charity does not have a share capital and has one wholly owned trading subsidiary, County Air Ambulance Trading, which is registered and operates within the United Kingdom that carries out trading activities. Organisational slructure We have a governing Board of Trustees commilled lo mainlaining a high standard of governance. Truslees, all of whom are unpaid roles, are drawn from diverse backgrounds lo bring a broad range ot relevanl experience and skills to Board discussions. Their names are listed on page 19. Committees are in place lo oversee and review policies for the Charity with particular focus on matters ol financial control, investment, remuneration and governance. They report back any actions arising at subsequent board meetings which over the pasl year have been held by Zoom. The Chief Executive and Head of Finance each have delegated financial authority to incur expendilure up to £5,000 within our finance policy. This level has not been increased since 2007. Expenditure over this amounl can be aulhorised by the Chairman or in his absence Ihe Company Secretary. All issues incurring more major expenditure are referred lo a lull meeling ol the Trustee Board. During the financial period, none of the Trustees received remuneration or benelils other Ihan the reimbursement of reasonable expenses incurred by them in carrying out their duties as volunteers and they are disclosed in nole 10 to Ihe accounts. No Truslee resigned or look up employmenl with the Charity during this financial period. The Chariiy holds Iruslees and directors Indemnity Insurance cover of £1,000,000 bul the cost is not separable from the lotal cost of insurance. TRUSTEES, RESPONSIBILITY STATEMENT The Trustees confirm that the Annual Report and Financial Statemenl of the Company and the Group comply with Ihe Charities Acts 2011 and 2016, the Company's Acl 2006, and the requiremenls ol Ihe Charity's governing document and in accordance wilh United Kingdom Generally Accepted Accounting Praclice, including FRS 102, the financial reporting standard applicable in the UK effective from 1 st January 2015. The Truslees are satisfied Ihal Ihey give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including Ihe income and expenditure, ol Ihe charitable group for that period. In preparing these financial stalemenls, the Trustees are required lo: select suitable accounling policies and then apply them consislenlly- observe the methods and principles in the Charities SORP (FRS 1021- make judgments and accounting estimates thal are reasonable and prudent., stale whether applicable UK Accounting Slandards have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare Ihe financial stalements on the going concern basis unless it is inappropriale lo presume that Ihe charitable group will continue in business. They are also responsible lor safeguarding the assels ol the chaiilable company and hence for taking reasonable steps for Ihe prevention and deteclion ol Iraud and other irregularities. Then, Ihere is our work on compliance Ihat means we all have lo operale in accordance wilh the many rules, laws and regulations that relate lo the work of Ihe Charity. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS The Trustees confirm that- so far as each Trustee is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 20061 ot which the charitable company's auditor is unaware- and each Trustee has taken all the steps Ihat they ought to have laken as a Trustee in order to make themselves aware ol any relevant audit information and to establish Ihat the charitable company's audilor is aware ol that informaÉion. The Trustees are responsible lor Ihe maintenance and integrity of the corporate and financial information included on the Charity's website. Legislalion in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. No Trustees have any beneficial interest in the Charity and guaranlee to contribute £10 in the event of a winding up. The Trustees receive no remuneralion lor their services. APPOINTMENT OF AUDITORS Crombies Accountants Limited had signified Iheir willingness to continue as the Charity's auditors for the ensuring year. A role they have discharged most diligenlly over the past few years. Their re-appoinlmenl will be considered al the Annual General Meeting on 8 May 2024 in accordance with Section 489 of the Companies Acl 2006. 11 Financial statements What follows on pages 23 to 50 are our Financial Statements for the year. REGISTERED COMPANY NUMBER.. 03044061 (England WAles) REGISTERED CHAIUTY NUMBER: IIJ57063 (Engl*Dd aDd Waks REGISTERED CHARrrv NUMBER: SC04S963 (Stothnd) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COiTNfY AIR AMBULANCE TRUST OpinAon We have audited the financial statements of County Air Ambulance T￿st (the '¢harity') and its subsidiary (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Ststement of Financial Activities. the Consolidated Balance Sheet, the Charity Balance sheeL the Consolidated the Cash Flow Statement and notes to th¢ financial statcrnents. including a summary of significant accounting polici￿. The f￿￿1¢la] reporting frarnewoTk that has been applied in their preparation is applicable law and United Kingdom Accounting Standards {United Kingdom Generally Acecpted Accounting Prn¢tice). In our opinion the financial statcTnerrts.' give a truc and fair view of the state of the charitable company's affairs as at 30 September 2024 and of its incoming resources and application of resouTce5, includtng its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in a￿ordanCe with the requirements of th¢ Companies Act 2006. Basis for opinion We conducted our audit in accordance with InternatiOTJal Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilitie5 under thos¢ standards are fijrther described in the Auditors. responsibilitie5 for the audit of the financial statements section of our report. We are independent of the charitable company in a¢coTdanGe with th¢ 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 requiments. We b¢liev¢ that the audit evidence we have obtained is sutYi¢ient and appropriate to provide a basis for our opinion. Conelusions relating to going ¢on¢ern In auditing the financial siatements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the flnancial statements is appropriate. Bas￿ on the WO￿ we have perfornied, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast Si￿lfIcant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statemenls are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this reporL Other information The tTUSt¢e5 are responsible for the other infomation. The other inforn￿tIon comprises the infomiation included in the Annual Reporl other than thc financial statements and our Report of the Independent Auditors thereon. Our opinion on the fmancial statements does nol Cover ihe other information and. except to the extent otherwise cxplicitly stated in our report. we do not express any forni of assurance conclusion thereon. In connection with our audit of the financial Statements. our responsibility is to read the othcr inforniation and. in doing so. consider whether the other inforniation is materially inconsistent wlth the fmancial statements or our knowledge obtained in the audit or otherwise appears to be materially misslated. If we identify such mafrrial inconsistencles or apparent material misstatements, we are required to deterniine whether thi5 gives rise lo a material misstatement in thc financial statements themselves. If. based on the work we have perfomed, we conclude that there is a material misstatement of thts other inforn)ation. we are required to r￿Ort that fact. We have nothing to report in this regard. Opinions on other matters pre￿rIbed by the Companies Act 21M16 In our opinion. based on the work undertaken in the Course of the audil: the infonnation given in the Report ofthe TNstees for the financial year for which the financial statemorrt5 are prepared is consistent with the financial ststem¢nts' and the Report of the Trustees has been prepared in a¢¢ordance with applicable legal requirements. P4ge 0 23 REGISTERED COMPANY NUMBER: 113044061 IEDglaDd aDd W￿¢$} REGISTERED CHARITY NUMBER: 1057063 (En¥laDd and Wales REGISTERED CHARITY NUMBER: SC045963 (S¢tbti*Thd) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COUNTY AIR AMBULANCE TRUST Matters OA Jvbich we are required to report by ￿eeptIon In the light of the knowledge and understanding of the charitsble company and its environment obtsined in the course of the audit. we have not identified n￿leT1￿ misstatem¢nls in the Report of the Trust¢¢s. We have nothing to report in respect of the fr>llowing matters where the Companies Art 2006 requires ￿ to report to you if, in OUT opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns" or certain disclosures of tr￿tees, remuneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit. Responsibilities of truste As explained more fully in the Ststcment of TTUStees' Responsibilities. the trustees (who are also the directors of the clwitable company for the purposes of company law) are responstble 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 trnstees detemiine is necessary to ¢nable the preparation of financial 5tsfrments that are free from mal¢rial misstatemenL whether due to fraud or ¢rror. In preparing the financial slalements, the trustees are iesponsible for assessing the charitable company's ability to Continue as a going concern, disclosin& as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to Itquidate the charitable Company or to cease operations, or hav¢ no realistic alternative but to do so, Pa4¢ 0 24 REGISTERED COMPANY NUMBER: 031)4￿1 IEDgi4nd W•lts) REGISTERED CHAIUTY NUMBER. 10571163 (England W*les REGISTERED CHARITY NUMBER: SCI14S963 (s¢0¢h￿d} REPORT OF THE INDEPENDENT AlmlTORS TO THE MEMBERS OF couNrY AIR AMBiJLANCE TRUST Our responsibilities for the audlt of the financial statements Our objectives are to obtsin re&8onable lssurance about whether the fman¢ial statements as a whole are free from material misslatemenL whether due to fraud or error, and to issue a Report ofthe Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guardntee that an audtt conducted in accordance with ISAS (UK) will always detect a rnaterial misstatement when it exists. Misstatements can arise from fraud or Cffor and are considered TnateTial 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. The extent to which our procedures are capable of detecting i￿egUlarlties, including fraud is detailed below: Our approach to identifying and a55essing the risks of malerial misstatement in respect of I￿egulaTities. including fraud and non-compliance with lav￿ and regulation4 wa8 as follows: -the engagementP8rtner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. -we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our Commercial knowledge and experience of the property rental sector -we focused on spe¢ifi¢ laws and regulations which we considered may have a dire¢¢ material ¢fftct on the financial statements or the operaiions ofthe company, including the Companies Act 2006. taxation legislation and dataprotection, anti-bribery, employmenL environmental and health and safety legislation. -we assessed the extent of compliance with the laws and regulations identified above through n￿kIng enwiries of management and inspe¢ting legal CO￿espondenCe. and -identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of nOn￿OmplIanee throughout the audit. We assessed the susceptibility of the ci)mpany's financial statements to material misslatemenl, including obtsining an understanding of how fraud might occur. by: -making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected aJ)d alleged fraud- and -considering the internal controls in place to mitigate risks of fraud and non-¢ompliance with laws and regulations. To addre&s the risk of fraud through mana8¢ment bias and override of controls, we: -performed analytical proccdures to identify any unusual or unexpected relationships. -testcd journal entries to identify unusual transactions" -assessed whether judgements and assumptions in deterniining the accounting estimates set out in note 2 were indicative of potential bias" and -investigated the rntionale behind significant or unusual transactions. In re5Frf)nse to the risk of irregularities and non-compliancc with laws and regulations. we designed procedures which included, but were not limÈted to: -agreeing financial statement disclosures to underlying supporting documentatio -reading the minutes of meetiThgs of those charged with govcTnance" -enquiring of management &¥ to actual and potential litigation and claims" and -reviewing correspondencc with HMRC. relevant regulators including the Health and Safety Executive. and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from fmancial transactions. the less likely it is that we would become aware of non-cornpliance. Auditing standards also limit the audit procedures required to identify non-¢omplian¢¢ with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal ￿￿espondenCe, if any. Material misstatements that arise due to fraud can be harderto delect than those that arise from error as they may involve deliberaie concealment or Collusion A further description of our responsibilities for the audit of the financial stsiements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This descriplion fonns part of our Report of the Independent Auditors. P•9• 0 25 REGISTERED COMPANY f4uMBER: 0311441161 (Ettgknnd Wales) REGISTERED CHARTfY NUMBER: 11)5711631England Waltg) REGISTERED CllARrfY NUMB¥R: SCO4S963 (S¢•thDd> REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COUNTY AIR AMBULANCE TRUST Use of our report This report is Jnadc solely to the charitable company's members. a8 2 body. in accordance with Chaptw 3 of Part 16 of the Companies Act 2006. Our auditwork has been undertaken so thatwe might stat¢ to the charitable company's members thosematters we are rcquired to stsietothem tn an auditors, report and forno otherpury)ose. Tothe fullest extent pemlitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable compan)P$ members as a i￿, for our audit work, for this report, or for the opinions we have fornied. lan Cattell I:CA (Senior Statutory Auditor) f(br and on behalf of Crombles Accountants Limited Chartered Accountants and Slatutory Auditor 34 Waterli)o Road Wolverhampton West Midlands WVI 4DG 8 April 2025 BEGISTERED COMPANY I¥VMBER: 031M4061 IEDgl##d and Walej) REGISTERED CHARITY NUMBER: 11)57063 (EnglgDd ¥lld W*ks) REGISTERED CHARITY NUMBER: SC045963 (&0tI*￿d) COUNTY AIR AMBULANCE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEFTFMBER 2024 2024 Total funds £'ooo 2023 Total funds £'ooo Unrestricted Restricted fimd nd £'ooo £'O(Kl Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3.098 540 3,638 3,469 Other trading ¥tivities Investment income Other income 6,068 194 loo 6,069 238 loo 5.920 207 187 Total 9.460 585 EXPENDITURE ON Raising fimds 3.323 ioi 3,424 3,330 Charitable activities Grants for Air Ambulance Administrative Costs Grants for Helipad ¢onstrnction 896 50 896 231 4.775 1,064 177 4,278 181 4,775 Foreign exchange loss Total 8.282 8.847 Net gains on investments 1,418 472 NET INCOME/(EXPENDITURE) 2,596 (462) 2,134 1.408 RECONCILIATION OF FUNDS Total funds brought forward 12.017 1,537 13,554 12.146 TOTAL FUNDS CARRIED FORWARD 1.075 15.688 13.554 REGISTERED COMPANY fquMBER.. 03044061 IEDilgDd alld W*lu) REGJSTERED CHAIUTY NUMBER: 1057063 (England and Waks) REGISTERED CHARITY NUMBER: SC045963 (Seorf•nd) COUNTY AIR AMBULANCE TRUST CHARITY STATEMENT OF FINANCIAL ACT¥vrrIES FOR THE YFAR ENDED 30 SEPTEMBER 2024 2024 Total funds £'ooo 2023 Total fimd5 £'ooo Unxestricted fimd £'ooo Restricted fund £'ooo Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3.096 540 3,636 3,469 Other trading activities Investment income Other income 3,781 194 100 3.782 238 loo 3,761 207 187 Total 585 7.756 E￿ENDITuRE OPI Raising fi]nds 1,034 ioi 1,135 1.171 Charitable a¢tivities Grants for Air Ambulances Administrative Costs Grants for Helipad constsuction 896 50 896 231 4.775 1.064 177 4,278 181 4.775 Foreign exchange loss Total 5.993 Net gains on investlnents 418 472 NET INCOMEI(EXPENDITURE) 2,596 (462) 2,134 1,408 RECONCILIATION OF FUNDS Total funds brought forward 12,017 1,537 13.554 12,146 TOTAL FUNDS CARIUED FORWARD 1,075 15.688 The notes forni part of these fmancial statements REGISTERED COMPANY [￿mBER. 03044061 IEn¢l**d *Dd Walu} REGISTERED CHARITY NUMBER: 10571163 IEDgl4nd W*l¢s REGISTERED CHARITY NUMBER: SC04S963 (Smt1￿0) COUNTY AIR AMBULANCE TRUST CONSOLIDATED BALANCE SHEET 30 SEPTEMBER 2024 2024 Totsl funds £'ooo 2023 Total funds £'ooo Unrestricted fund £'ooo Restricted fund £'ooo FIXED ASSETS Investments 13 11.352 1,075 12,427 10.723 CURRE￿ ASSETS Prepayments and accrued income Cash at bank 226 226 120 3,340 3,340 2,933 CREDITOKS Amounts falling due within one year 14 (79) (79) (102) NET CURRE￿ ASSETS 3,261 3.261 TOTAL ASSETS LESS CURRENT LIABILITIES 14.613 1,075 15,688 13,554 NET ASSETS 14,613 FUNDS Unrestricted fimds Restricted fisnds 15 14,613 12.017 1.537 TOTAL FUNDS 15,688 The financial statements were approved by the Board of Tn]st¢¢s and authorised for issue on 8 April 2025 and were signed on its behalf by: M R Q Henriqu¢s - Trustee The notes forni part of these fllW]cial ststements REGISTERED COMPANY NUMBER: 113044061 (EBgl4lld #Dd Waios) REGISTERED CHAIUTY NUMBER: 1057063 (EDgl*nd ¥snd W*1¢5) REGISTERED CHARITY NUMBER: SCO45963 {Stodandl COUNTY AIR AMBULANCE TRUST CHAIUTY BALANCE SHEET 30 SEvfEMBER 2024 2024 2023 Total funds £'ooo Unrestricted fund £'ooo Restricted fund £'ooo funds £'ooo Notes FIXED ASSETS Invesknents 13 11,352 1,075 12.427 10,723 CURRE￿ ASSETS Debtors Prepayments and accrued income C￿h at bank 14 1,239 226 1,863 1,239 226 810 120 3,328 3,328 2,922 CREDrroRS Amounls falling due within one year 15 (67) (67) (91) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 14,613 1.075 15.68S 13.554 IYET ASSETS 15,688 16 Unrestricted funds Restricted funds 14,613 1.075 12,017 TOTAL FUNDS The financial statements were approved by the Board of Tn￿l¢eS and authorised for issue on 8 April 2025 and were signed on its behalf by: M R Q Henriques- Tn￿tee The notes forn) part of these fjnancial statements P•0• 0 30 R£CISTERED COMPANY NUMBER: 03044061 IEDgland W*les) RECJSTERED CHAIUTY NUMBER: 1057063 (England And Wgk¥) REGISTERED CHARrrY NUMBER: SC045963 lstot1￿d> COUNTY AIR AMBULANCE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEvfEMBER 2024 Group 2024 £'ooo Charity 2024 £'ooo Group 2023 Charity 2023 £,￿0 Cash flows from operating activities Cash generated from oiwations Net c&sh provided by (used in) operating activities 349 349 81 81 807 807 C88h llows from iDvesting aetlvllles Purchase of fixed asset inv¢sth)ents Sale of fixed asset investments Dividends and interest received Net cash provided by (used in) investing activities (5,257) 4.971 238 48 {5,257) 4,971 238 48 (6243) 5,730 207 306 (6,243) 5,730 207 306 Chgnge in cash and Cash equfivalents in the r¢porting period 301 (129} 501 749 C95h and cash eqllivxlents al the beginning of the p¢riod Cydsh and easb equlv8lents al the end of the perlod The notes fonn part of these fmancial statements Page 0 31 REGISTERED COMPANY IYUMBER.. 031M4061 {EDgi4nd W*k8) REGISTERED CHARITY NUMBER.. 10571163 (England and W4kJ) REGISTERED CHARITY NUMBER: SC045963 IS¢otl4knd) COUNTY AIR AMBULANCE TRUST NOTES TO THE CASH FLOW STATEMENr FOR THE YEAR ENDED 30 SEPTEMBER 2024 RECONCILIATION OF NET INCOME TO F4ET CASH FLOW FROM OPERATINGACTIVITIES Group 2024 £ 'ooo Charity 2024 £'ooo Group 2023 £.￿0 Charity 2023 £'(K)o Net incorne for the period (as per the slatement of finan¢ial artivities) 2,134 2.134 1,408 1,408 Adjustments for: Investment income received (Decrease) InCr￿Se in creditors Decrease (IncTease) in debtors Revaluation of investments (238) (23) (106) (238) (24) (535) (207) 31 47 472 (207) 27 299 472 Net cash provided by (used in) operating activities The notes fonn part of these fmancial ststements Pa9• 0 32 REGJSTERED COMPANY NUMBER: 03044061 (EDKl*Dd **d W*ks) REGISTERED CHAIIJTY NUMBER: 1057063 (Engi4rLd Wal¢sl REcIsfERED CHARITY NUMBER: SC045963 (S¢otl*Md) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES The financial statements of the charitable company. lirnitcd by guarantee, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting amd Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial RepN>rting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015),, Financial Reporting Standard 102'The Financial Reporting Standard applicablc in the UK and RepubliG of Ireland,, the Companies Act 2006, the Charities and TThstees Jnvesthient (Scotland} Act 21105 and the Charities Accounts (Scotland) Regulations 2006 (&s amended). The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the Tevaluation of certain assets. The Presentation c￿￿enCY of the fllW]cial ststements 15 the Pound Sterling (£) Use of estiJnthte5 and judgements When preparing the fll]ancial statements, the trustees and management make a number ofjudgments, estimates and assumptions on the way in which assets, liabilities. income and expenditure is recognised and measure Critical accounting judgemeDts and key resources of estimation uncertainty In the application of the accounting policies. trustees are Tequired to make judgemenL estimates and assumptions about the caTrying value of assets and liabilities thai are not readily apparent from sources. The estimates and underlying a8sumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to a¢¢ounting ¢stAmates are re¢ognised in the period in which the estimate is revised if the revision affects only that period of the revision and future periods if the revision affected current and firture periods. Group financial $tal¢ments The fllwicial statements consolidate the results of the charity and its wholly owned subsidiary County Air Ambulance Trading Limited on a line by line basis. Going concern These accounts have been prepared on the basis that the charity is a going Conce￿ because the tn￿tr¢S consider that there are suificient reserves to secuTC the future of the charity for at least the next 12 to 18 months. Expendithre Liabilities are reCO￿lsed as expenditure &8 soon there is a legal or constructive obligation committingthe charity to that expenditure, it Is probable that a transfer of economic benefits will be required in settlemenl and the amount ofth¢ obligation can be measured reliably. Expenditure is accounted for on an acc￿￿lS basis and has been classified und¢rh¢adings that aggregate all cost relafrd to the category. Where costs cannot be directly attributed to particular headings they have been allocatd to activities on a basis ¢onsistent with the use of resources. Grants offered subject to conditions which have not becn met at the year end date are noted as a commitment but not accrued as expenditure. Allocation and apportionment of costs The trust initially identifies the costs of its support fi]nctions and then identifies those costs which relate to the governance function. Having identified its governance costs the remaining support costs are apportioTJed between the chaTitable activities undertaken on an invoi¢ed or time apportioned basis as appropriate. Pago continued... RECISTERED COMPANY NUMBER: 030441161 (England SJDd W*l¢* REGISTERED CHARITY F4UMBER: 10571163 (EDgJaJ)d Wales) REGISTERED CHARITY f4UMBER: SC045963 ISeotlaDd) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS - Contlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES- coiYfINUED lllcome All income is reported gross when raised by the charity or its agents. Any fee charged by a third party and deducted from the amount collected before it is remitted to the charity is not offset against income but is reported as a fundraising expense. Income is recognised in full within the Statement of Financial Activities as soon as the following three factors can be met: Entitlement- control over the rights ot other access to the economic benefit has passed to the charity Probability - it is more likely than not that the economic benefits a8sociated with the transaction or gift will flow to the charity Measurement- the monetary value or amount of the income can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be mwured reliably. a) Legacies Legacies are included in the Ststement of Financial Activities when all the criteria for Income recognition have been met. In addition, where the entitlement and probability criteria have been mel but the monetary value is not completely certaitL then if reliability can be placed on a partial receipt, that in¢ome also WAII be included in the Statement of Financial Activities. b) Event Income Income received in advance of an event is deferred if the event takes place after the year*nd. unless that income is non-refundable. c) Gift aid During the year, the charity re¢ognised an estimated amount of £IOO.000 incorne relating to Gift aid recoverable on eligible donations r¢¢eiv¢d, In ac¢ordance with the Charities SORP (FRS 102). Gift aid is accounted for on an accruals basis where the income is considered certain and measurable. The estimate has been calculated based on historical claim rates and Cu￿elll year eligible donation income. The trustees are confident that the claim will be successful and that the income is recoverable. d) Gifts in kind Assets donated to the charity for its own use are included in the Statement of Financial Activities as incoming resources at the market value at the time of the gift. Assets and gifts made for the conversion into cash and subsequent application for the Charity are included in the accounting period in which the itemls ar¢ sold at the sale value. e) Volunteers and supporters The charity benefits greatly from the involvement and enthusiastic support of its many volunteers and supporters, details of which are given in our annual report. In accordance with FRS 102 and the Chariti¢s SORP {FRS 102), the economic contribution of general volunteers is not reCo￿lS¢d in the accounts. Taxation The charity is exempt from CO￿oratiOn tax on its charitsble activities. Fund ac¢ountlDg Unrestricted funds can be used in accordance with the charitsble obje¢tives at the discretion of the trustees. Restricted fimds can only be used for particular restricted purposes within the objects of the ¢harity. Restrictions arise when specified by the donor or when fimds are raised for particular restricted purposes. Further explanation of the nature aTJd purpose of each fvnd is included in the notes to the financial statements. Balance Sheet The Balance Sheet reflects the resou￿¢5 available to the charity, and identifies any restrictions placed on their use. continued... REGISTERED COMPANY NUMBER: 03044061 (Engl•nd Wal￿) REGISTERED CHARITY PIUMBER: 1057¢163 (Engllnd ADd W*lu) REGISTERED CHARITY IYUMBER.. SCIM5963 ISrol]And COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMEiYfs- Continued FOR THE YEAR ENDED 30 SEwfEMBER 2024 ACCOUNTING POLICIES - CONTINUED a) Invesknents Investment funds are ststed at market value at the Balance Sheet date. The Statement of Financial Activities includes the net gain or loss during the financial year. Detailed analysis of the changes in investment value during the year 15 set out in Note 13. Investments in group undertskings are stated at cosL b) Financial instruments The ChaTity only h&s financial assets and fm8ncial liabilities of a kind that qualify as b&sic fmancial instruments. Basis financial instruments are initially recognised at transaction value and subsequcntiy measured at their settlemenl value. c) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offera. Prepayments are valued at the amount prepaid net of any trade discounts due. d) Short tenn deposits The charity categorises short-tenn deposits as those funds intended to be held in accounts for five years or less. e) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the traJ)sfer of fimds to a third party and the amount due to settle th¢ obligation can be measured or estimated reliably. Creditors and provisions are nomially recognised at their settlement amouJJt after allowing for any trade discounts due. Interest free intercompany loans are recognised at present value. fj Short temi deposits The charity calegorises short-temi deposits as those funds inl¢nded to be held in accounts for five years or less. g) Creditors and provisions Creditors and provisions are recO￿lIsed where the charity has a present obligation r¢sultin8 from a past event that will probably result in the transfer of fimds to a third paty and the amount due to settle the obligation can be measured or estimafrd reliably. Creditors and provisions ar¢ nonnally recognised at iheir settlement amount after allowing for any trade discounts due. Interest free int¢r¢ompany loans are recognised at present value. continued... REGISTERED COMPANY NUMBER: 03044061 *nd Wales) REGISTERED CHAIUTY NUMBER.. 1057063 IEDglaDd 4Dd WalÈ8) REGISTERED CHARTfY NUMBER: SC0459631Stotlalld) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontfinMed FOR THE YEAR ENDED 30 SEPTEMBER 2024 DONATIONS, LEGACIES AND SIMILAR INCOME Group 2024 £ OOO'S Charity 2024 £ OOO'S Group 2023 £ OOO'S Charity 2023 £ OOO'S Donations 890 888 756 756 Committed giving Legacies Payroll giving 1,137 1,363 248 1,137 ,363 248 938 1.507 268 938 1,507 268 3,638 3,636 3,469 3,469 Of the Conunitted giving received by the Group £16,458 (2023 £54.104) w&8 Benerated in scotlan￿ as were donations of £0 (2023 £158). OTHER TRADING ACTIVITIES Group 2024 £ OOO'S 6.IKI4 65 Charity 2024 £ OOO'S 3,717 65 Gmup 2023 £ OOO'S 5.895 25 Charity 2023 £ OOO'S 3,736 25 Lottery income Ev¢nts 6,069 3,782 5,920 3,761 Of the lottery income received by the Group £103,774 (2023 £131,607) was generated in Scotland. INVESTMENf INCOME Group 2024 £ (Kio's 218 20 Chatity 2024s £ OOO'S 218 20 GTOUP 2023 £ (KK)'s 190 17 Charity 2023 £ OOO'S 190 17 Investmenl income Bank inteTest receivable 238 238 207 207 continued... RECISTERED COMPANY NUMBER.. 03044061 (EDgl*nd and WAles) REGISTEBID CHARETY NUMBER,. 1057063 {EDgia￿d and Wales REGISTERED CHARITY NUMBER., SC045963 (S¢otl*Dd) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 RAISING FUNDS Group 2024 £ OOO'S Cltsrity 2024 £ OOO'S Group 2023 £ OOO'S Charity 2023 £ O(Ki's Raising donations and legacles Slaff costs PrAntiThg and stationery Office sundn'es Collections, events, mailshots etc Legacy support cost PayToII giving Bank charges Legal fees Committed giving costs Database system costs 349 349 303 303 35 55 35 55 22 48 22 48 10 10 15 685 19 io io 15 685 19 27 12 593 20 27 12 593 20 Trading a¢tivltles Lottery operating expenses Stsff costs Merchandising Printing and stationery Public Relalions Motor expenses Office sundries I*gal & professional fecs Bank charges 2.024 153 1.905 135 46 56 55 3,391 J.119 Inveslment management cost$ Support Costs 33 33 52 52 Aggregate amounts 135 continued... REGISTERED COMPANY NUMBER: 03044061 (Eugl*Dd #Dd W4le3) REGISTERED CHAIUTY NUMBFR: 1057063 IEnglalld and W*ks) REGJSTERED CHARrfY NUMBER.. SC045963 (St•tl•nd) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENfs - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 CHARITABLE ACTIVITIES COSTS Grant fundtng of activities {see note Support costs (see note 8) £'ooo Direct Costs £'ooo Totals £'ooo 896 231 4.775 £'ooo 896 Grants for Air Arnbulance Athninistrative Costs Grants for Helipad construction 168 63 168 5.671 63 5,902 GRANTS PAYABLE 2024 £'ooo 896 4.775 2023 £'ooo 1.064 7.278 Paid in the year Grnits for Air Ambulances Grants for Helipad constructlOD 5,671 8,342 Less amovDts repaid Grants for helipad const￿CtIon (cancell¢dldelayed projects) 5.671 5.342 Pa4e 0 38 ontinued... REGISTERED COMPANY NUMBER.. 03044061 IEDEl4nd W•l¢s) REGISTERED CHARITY NUMBER: 1057063 (EnglADd 8Dd Walts) RECISTERED CHARITY NUMBER.. SC045963 (S¢od#thd COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENfs- continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 GRANTS PAYABLE - continued 2024 £'ooo 2023 £'ooo Reclplents of Institutional Grants: Oxford University Hospitals Charity Midlands Air Ambulance Charity (Restricted Funds) Dorset County Hospital Hampshire & low AA East Anglia Air Atnbulance Northern Care Alliance NHS FT Air Ambulance Kent SuTrey & Sussex (PINS) Cornwall Air Ambulance BASICS Leicester Hospitals Charity Isle of Gigha HT Quccn Elizabeth Uni H05Pltal Glasgow Maidstone Great Western Air Ambulance University Hospital Southhampton NHS FT Salisbury NHS Foundalion Trust Lin¢s & Notts Air Ambulance Magpass Air Ambulance Leeds Teaching Hospital University T￿￿t Northwest Air Ambulance Wiltshire Air Ambulance Sheffield Childrens Dorset & Somerset Air Ambulance West Midlands Care James Paget University H05pitsI NHS FT Isle of Mull & Iona Applecross FEC Heliports ShelTield Teaching Hospitals NHSFT Mull & loana CT Shrewsbury & Telford NHS Tnjst CAAI E&8t Kent Hospital Nottingham University Hospitsl Charity Midlands Air Ambulance Charity Tham¢s Valley AA Salisbury NHS Foundation Trnst Great Westsrn Air Ambulance (Restricted Funds) BASICS Scotland Devon AA Whitehaven Hospital Barrow-In-Furn¢ss Hospital Kings College Hospitsl Bangor Univcrsity Hospital Bristol NHS Highland- Inverness East Kent Hospitals Charity Royal Lancaster Hospital Kilmarno¢k Hospital Liverpool Aintree- Maintenance North West Anglia NHS FT FEC Heliports - Apple￿oSS Green Deck Ops various 1,000 897 500 300 300 250 250 250 250 240 184 183 170 167 132 121 89 88 61 55 42 34 31 30 25 12 2,500 897 soo 37 io 500 250 107 63 27 138 400 1.000 500 333 200 167 139 95 73 71 59 31 30 29 28 16 15 14 14 io continued... RECJSTERED COMPANY NUMBER: 031M4061 (EDgl9￿d and Wale4) REGISTERED CHARITY NUMBER: 1051063 IEDg]¥Dd W*les1 REGISTERED CHARITY NUMBER: SC045963 IStDthndl COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMEN13- contlDued FOR THE YEAR ENDED 311 SEPTEMBER 2024 GRANTS PAYABLE . Continued CAAI - Salford Hospital Gloucester Royal H05Pital Truto Hospital CAAI - Medway Hospital CAAI - Oxford Hospitsl CAAI - Airedale Hospital Lancaster Hospital Isle of Arfdn Peterborough Hospital Whitehaven Hospital CampbeltowTr Hospital CAAI - Barnstable Hospital CAAI - Scarborough Hospital CAAI - Islay CAAI - Mull CAAT . knan CAAI - Dorche5ter H05Pital CAAI - A5hford Hospital CAAI - Harlow Hospital CAAI - Bangor Hospital CAAI - Tunbridge Wells Hospital CAAI - Basildon Hospital Total grants paid in Ihe year 5ffj93 8J42 Grants refuDded in the year: Wish Charity Helipad refund Wor¢ester Hospitsl - refunded Luton Hospital - refiulded (22) (500) (2,500) Net grants paid to in8titution$ 5671 a2 continued... REGISTERED COMPANY f4UMBER: 03044061 (EDglI￿d aod WAle$l REGISTERED CHAIUTY NUMBER: J057063 {EDg]4nd ihd Wales) REGISTERED CHARITY NUMBER.. SC04SY63 IS¢tsll•Dd) COUNfY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS - etsntinued FOR THE YEAR ENDED 30 SEPTEMBER 2024 SUPPORT COSTS GoVern￿Ce costs £'ooo 63 Administrdtive Costs 63 Support costs, included in the above, are as follows: Governance costs 2024 2023 Grants for Air Ambulance £'ooo Administrative Costs £'ooo Total activities £'ooo Total activities Tn￿tees, expenses Wages Auditors, remuneration Insurance Postage and ststionery Sundries 22 14 22 14 20 63 63 59 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after Chargin￿{crea1t1n8}. 2024 2023 £'ooo Auditors, remuneration io. TRUSTEES, REMUNERATION AND BEIYEFITS There were no truslees, remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. Trustees, expenw In the year ended 30 September 2024, there were no ttvstees expenses paid out in the year. (mtinued... REGISTERED COMPANY NUMBER: 113044061 (En￿a￿d and W￿¢$) REGISTERED CHARITY NUMBER: 1057(163 (￿￿¥72nd slld W2les REGISTERED CHARITY NUMBER.. SC045963 Istothnd) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS - eoDtinued FOR THE YEAR ENDED 30 SEPTEMBER 2024 ii. STAFF COSTS 2024 £'IK)O 536 2023 £'ooo 470 Wages and salaries 536 470 The average monthly number of employees during the year was &8 follows: 2024 2023 Administration Fund-raising 13 STAFF COSTS- contlnued The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2024 2023 £90,001- £100,000 2024 £OOO's 2023 £000'5 Wages and salaries comprise: Gross wages and salaries Employer's National Insurance P¢n5ion costs 437 45 15 377 36 14 497 427 Pauo continued... RECISTERED COMPANY NUMBER: 03044061 IEbgl#nd ithd Waltt) REGISTERED CHARITY NUMBER: 1057063 IEDglalld alld W*l¢8) REGISTERED CHARITY P4UMBER: SC045963 IStotl*Thd) COUNTY AIR AMBULANCE TRUST IYOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 12. COMPARATIVES FOR THE STATEMEIYT OF FINANCIAL ACTIVITIES Unrestricted fund £'ooo Restricted fund £'ooo Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 2,937 532 3,469 Other trading activities Investment income Other income 5,919 169 168 5,920 207 187 38 19 Total 590 EXPENDITURE ON Raising fi￿dS 3,225 105 3,330 Chydritable activities Grants for AIT Ambulance Administrative Cost5 Grants for Helipad consttuction 1,064 48 129 4278 177 4,278 Foreign exchange loss Totsl 1,217 Net gains on investments 472 472 NET tNCOMEI(EXPENDITURE) 2,035 (627) 1,408 RECONCILIATION OF FUNDS Total funds brought forward 9.982 2,164 12,146 TOTAL FUNDS CARRIED FORWARD Pago 0 43 continued... REGISTERED COMPANY NUMBER: 03044061 {EnglwDd W*lei REGISTERED CHARITY NUMBER: 1057063 {EngJand aDd W41¢s) REGISTERED CIIARITY NUMBER: SC045963 (s¢oU￿dI COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EF4DED 30 SEPTEMBER 2024 13. FIXED ASSET INVESTMENTS Listed Anvesthlents £'ooo MARKET VALUE At l October 2023 Additions Disp05als Revaluatlons 10,723 5.257 (4,971) At 30 September 2024 NET BOOK VALUE At 30 Septemb¢r 2024 12,427 At 30 September 2023 THE CHARITY- AS A SEPARATE ENTITY Shares in group undertaking List investments Totals £ OOO'S £ OOO'S MARKET VALUE At l October 2023 Additions Disposals Revaluations 10,723 5,257 (4.971) 10.724 5,257 (4,971) 1.418 At 30 September 2024 12,427 NET BOOK VALUE At 30 September 2024 12.428 At 30 September 2023 10.723 The listed investsnents held as at 30 September 2024 were as follows.. 2024 2023 Cost Market Value £OOO's 1,352 590 3,788 6.697 Cost Market Value £ OOO'S 793 245 3,265 6.420 £ OOO'S 1248 536 3,243 £ OOO'S 775 269 3,132 UK investments Overseas investments UK equities Ovetscas equities 12,427 10,723 Pa4• 0 44 continued... REGISTERED COMPANY NUMBER: 03fM4061 IEDgland and Wgles) REGISTERED CHAIUTY NUMBER: 10571163 (Englgnd W*les) REGISTERED CHARTfY IYUMBER: SCO455163 (Swtl*thdl COUNTY AIR AMBIJLANCE TRUST NOTES TO THE FINANCIAL STATEMEwfs- continued FOR THE YEAR EM)ED 30 SEPTEMBER 2024 Also, as part of the invesknent portfolio £134,943 (2023 £250.403) is held and Classified as cash. The company's inv¢stmeTJts at the balance sheet date in the share capital of compantes include the following: County Air Ambulance Trading Limited Registered office: Nature of business: Fund raising through charity lotteries Class of share.. Ordinary holding loo 2024 2023 Aggregate capital and reserves Profit / (Loss) for the year ontinued... REGISTERED COMPANY NUMBER: 031M4061 (England aDd Wale4) REGIsfERED CHARITY NUMBER: 11)$7063 (E￿18￿￿ and Wgle5) REGISTERED CHARITY NUMBER: SClb45963 (Scotl*ttd) COIJNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 14. CREDITORS: AMOUNTS FALLING DUE wrrHIN OIYE YEAR 2024 £'ooo 45 15 2023 £'ooo 78 li Trade creditors Social security and other taxes Pensions creditor Accrued expenses 79 102 15. MOVEME￿[ IN FUNDS Net At .10.23 £'ooo movement in ￿ndS At 30.9.24 £'ooo Unrestrlcled funds General fund 12,017 2,596 14,613 Restricted funds Air Ambulance Support 1,537 (462) 1,075 TOTAL FUNDS 2,134 Nel movement in fijnds, included in the above are as follow5: Incoming resources Resources expended Gains and losses £'ooo Movement in funds £'ooo £'ooo Unrestricted funds General fund 9.460 (8,282) 1.418 2,596 Restricted funds Air Ambulance Support 585 (1.047) (462) TOTAL FUNDS 1,418 Comparatives for movement in funds Net movement in fimds £'ooo At 1.10.22 £'ooo At 30.9.23 £'ooo Unre8tri¢ted funds General fund 9.982 2,035 12.017 Restrh¢t¢d funds Air Ambulance Support 2,164 (627) 1,537 TOTAL FUNDS 1.408 continued... REGISTERED COMPANY NUMBER: 030440611England *Dd W*i¢J) REGISTERED CHAIUTY NUMBER.. 10S7O63 IEDgl4nd ¥Dd W*ies) REGISTERED CHARITY NUMBER: SC045963 (Sti*tlAnd) COUNTY AIR AMBULANCE TRUST NiyfES TO THE FINANCIAL STATEMEiYfs- continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 15. MOVEMEPIT IN FUNDS- continued Comparative net movement in ￿nds, included in the above are as follows: Incoming resources Resources expended £'ooo Gains and losses £'ooo Movement in fiu)ds £'ooo £'ooo UDre5tricted funds General fund 9.193 (7,630) 472 2,035 Restricted funds Air Ambulance Support 590 (1.217) (627) TOTAL FUL¥DS 8.847) 472 1.408 A Cu￿ent y&2r 12 months and prior year 12 months combined position is a5 follows: Net movement in funds At 1.10.23 £'ooo At 30.9.24 £'ooo Unrestricted funds General fimd 9,982 4,631 14.613 Restricted funds Air Ambulance Support 2,164 (1,089) 1.075 TOTAL FUNDS 12,146 3.542 15,688 A current year 12 months and PriOT year 12 months combined net movement in funds, included in the above are as follows: Incoming Resources expended £'ooo G&ins and losses Movement in fl￿dS £'ooo £'ooo Unreslrlcted funds General fimd 18,653 (15,912) 1,890 4,631 Re5trict¢d funds Air Ambulance Support 1.175 (2,264) (1,089) TOTAL FUNDS 19,828 18.176) 1.890 3.542 Pa9• 0 47 continued... REGISTERED COMPANY NUMBER: 03044061 IEDglAnd Wa1¢5) REGISTERED CHARITY NUMBER: J057063 (England ADd Wales REGISTERED CHARITY NUMBER: SC045963 IS¢otl*ttd) COUNTY AIR AMBULANCE TRUST NOTES TO THE FINANCIAL STATEMEI¥TS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 16. RELATED PARTY DISCU)SURES There were no related party tr4nsa¢tions for the year ended 30 September 2024. 17. PURPOSE OF FUNDS Unrestricted Fun(Ls Unrestricted funds can be used in accordance with the charitable objectives of the Trust. Income received in respect of helicopter emergency landing pads and air ambulance support is generally treated as unrestricted funds. Re5trict¢d Funds Restricted fimds represent income received in respect of specific air ambulance services which must therefore be applied to that specific service. 18. DONATED FACILITIES The charity receives free use of oifice space frorn South Staffordshire Water PIC on an infonnal lease. It is not considered possible to arrive at an accurate value for the donated use of these facilities for inclusion in the ststement of Financial Activities however the monetary value of the donation is not ¢onsidered to be material in the context of the fAnan¢ial ststements as a whole. 19. SUBSIDIARY UNDERTAKING The subsidiary of the charitable company is County Air Ambulance Trading Limited, a company incorporated in England & Wales, registration number 08308860, whose regisfrred office is situated at South Staffordshire Water Site. Green Lane, Walsall, West Midlands, England, WS2 7PD. The subsidiary is in¢luded in the consolidated accounts and the profit raised from its activities is donated to the charitabl¢ company. Its turnover for the year was £6,004,263 (2023 £5,895,346) and its expenses (including the donation) amounted lo £6.004.263 (2023 £5,895,346). REGISTERED COMPANY NUMBER: 030441161 {EnglaThl and W41¢J) REGISTF.RED CHARITY NUMBER.. 10571163 IEngl4Dd attd Wales) REGISTERED CHAIUTY NUMBER: SCIN5963 (Scotlandl COUNTY AIR AMBULANCE TRUST DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 £'ooo 2023 £'ooo INCOME AND ENDOWMENTS Donations and legacies Donations Committed giving Legacies Payroll giving 890 1.137 1,363 248 756 938 1,507 268 3,638 3.469 Olher trading aetivities Lottery Income Events 6.004 65 5,895 25 6,069 5.920 Inveslment income Investment income Bank interest receivable 218 20 190 17 238 207 Other ineome Other inwme loo 187 Total incoming resources 10,045 9.783 EXPENDITURE Raising donations legacles Wages Printing and slationery oirice sundries Collections. events. nuilshots etc Legacy support costs Payroll giving Legal fees Bank charges Committed giving costs Database sysi¢m ¢05ts 349 303 35 55 22 48 li 27 12 593 20 10 15 io 685 19 1.102 1,119 Other tradlng activities Wages and subcontract Lottery expenses Carried forward 153 2,024 2,177 135 1.905 2,040 This page does not fomi part of the statutory financial statements Pag¢ 0 49 REGISTERED COMPANY NUMBER: 030441)61 IEnKl*nd alld W#l¢s) REGISTERED CHARITY NUMBER.. 1057063 (England alld Wales) RECISTERED CHARITY NUMBER: SC045963 IS¢tbtl#tyd) COUNTY AIR AMBULANCE TRUST DETAILED STATEMENT OF FINANCIAL ACTIvrrIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 £'ooo 2023 £'ooo Other Irading activities Brought forward Public relations Printing and stationery Office sw)dries Motor expenses Accountancy Bank charges Merchandising 2,177 56 55 2,289 2,159 Investment manxg¢ment cos15 Investment advice 33 52 Charitable a¢tivities Wages Advertising Consultancy Collections, evenis, mailshots etc Grants to institutions 23 55 54 36 21 61 19 17 5.342 5,839 Other Foreign exchange (2) Support costs Governance costs Trustees, expenses Wages Auditors, remuneration Insurance Poslage and stationery Sundries 22 14 20 63 59 Total resources expended Net income 716 936 This page does not fomi part of the statutory financial ststements