The Dorset & Somerset Air Ambulance Charity (A Charltable Company Llmited by Guarantee) Annual Report and Flnanclal Statements For th8 Year Ended 31 March 2024 Company Number: 03893356 Charlty Reglstered In England and Wales Number: 1078685 The Dorset & Somerset Air Ambulance Charity Contents Fof the Year Ended 31 March 2024 Reference and Administrative Details Trustee Directors, Report 3-19 Independent Auditors, Report 20-23 Statement of Financial Activities 24 Balance Sheet 25-26 Statement of Cash Flows 27 Noles to Financial Statements 28-47 The Dorset & Somerset Alr Ambulanc8 Charity Referen￿ and Administrative Details For the Year Ended 31 March 2024 Trustee Dlrectors Dr G Bryce (Chair) SDay W Entrwisle W Green S Heyes S Jones R Kennedy (Vice Chair) T Killen M Lyne R Marlow A Phillips Secretary S Davies Chlef Executlve Offlcer C Hackett Deputy Chlef Executlve J Plowden Flnance Manager S Davies Lottery Manager CGUY Charlty Number 1078685 Company Number 03893356 Prlnclpal Address and Reglstered Offlce Landacre House Castle Road Chelston Business Park Wellington Somerset TA219JQ Audltor8 Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somersel TA12PX Bankers National Westminster Bank PIC South West RCSC 740 Waterside Drive, Aztec West Almondsbury, BS99 5BD Barclays Bank UK Leicester Leicestershire, LE87 2BB Produced by Albert Goodman LLP Page 1 The Dorset & Somer8et Air Ambulance Charfty Reference and Administrative Details For the Year Ended 31 March 2024 Aldermore 6th Floor, The Monument Building 11 Monument Street London, EX3R 8AF Cambridge & Countries Bank Charnwood Court 5B New Walk Leicester, LE16TE Close Brothers Treasury 41h Floor, 10 Crown Place London, EA2A 4FT Hampshire Trust Bank Savings PO Box 74003 London, EC2P 2QR United Trust Bank Limited One Ropemaker Stieet London, EC2Y 9AW Uniled National Bank Llmited 2 Brook Street London W1S 1BO Investment Advlsors Brewin Dolphin Vantage Point Woodwater Park Pynes Hill Exeter. Devon, EX2 5FD Rathbones Investment Management The Senate, Southernhay Gardens Exeter, Devon, EX1 1 UG Evelyn Partners Portwall Place Portwall Lane Bristol, BS16NA Produced by Albert Goodman LLP Page 2 The Dorset & Somerset Alr Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the audited financial statements for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, Ihe charity's goveming document and the Statement of Recommended Practi￿ (SORP FRS 102- implemented 1 January 2019). The full name of the charity is The Dorset & Somerset Air Ambulance Charity. It was incorporaled 13 December 1999 as a Company limited by guarantee. Its company registration number is 03893356, Its charity registration number is 1078685. The registered office is Landacre House, Castle Road, Chelston Business Park, Wellington, Somerset, TA219JQ. References and Admlnlstratlve Detalls Administrative information is given in a separate section at the front of these accounts. Dlrectors and Trustee8 The directors of the Company are the charity's trustèés for the purpose of charity law and throughout this report are collectively referred lo as the Trustees. The Trustees seNing during the year and since the yearend are as follows: Dr G Bryce (Chair) SDay W Entwisle W Green S Heyes S Jones R Kennedy T Killen M Lyne R Marlow A Phillips (appointed 13 June 2023) None of the Trustees have any beneficial interest in the Company. All of the Trustees are members of the Company and guarantee to Gontribute £1 in the event of a winding up. Structure Governance and Management Governlng Document The Dorset & Sornerset Air Ambulance Charity (DSAA) is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. It has a dormant subsidiary company, Dorset & Somerset Air Ambulance (Trading) Limiled (Company registration number 03861464). Produced by Albert Goodman LLP Page 3 The Dorset & Somerset Air Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 The Board DSAA is led by a Board of Trustees embracing a balanced spectrum of skills and experience including healthcare, aviation, legal, business, finan￿ and HR. The charity follows a protocol for the recruitment of new Trustees which facilitates bolh personal referrals and professional recruitment. The protocol enables both Trustees and candidates to make proper assessments before appointment. Trustees are appointed in accordance with the DSAA constitution, in line with a defined procedure and fulfil their responsibilities in accordance with clearly defined and approved Terms of Reference. The Board comprises a Chair and up to Ive other trustees. It has four sub committees fesponsible for the oversights of: Employment and Rernuneration, Finance, Aviation and Risk. The board intends to maintain a balance in county representation. Trustees seNe a term of three years bul are eligible for re-appointment twice so that a trustee may serve a total of nine years. board can. but rarely has, make an exception in the interests of the charity. The current chair has been extended a year beyond the 9 years to provide support and continuity during the early tenure of the new CEO in 2023 and key stages of major strategic capital projects including aircraft purchase and base redevelopment. The Board maintains close liaison with the South Western Ambulance Services NHS Foundation Trust (SWASFT or SWAST) on all aspects of medical provision and clinical governance, and with Gama Aviation (Gama) on all aviation matters. These two bodies are directly involved in the operational governance of charitable activities and. through the executive and committees, provide the Board with professional advice on all operational matters. Employees and Volunteers The charity is managed by full and part-time staff of 24 (totalling 21.09 FTE) and over 100 volunteers. Operalions are delivered by a further 52 team members including our DSAA Crilical Care Team and Patient & Family Liaison Nurses, employed by the SWAST and NHS Hospital Trusts, and OSA4 pilots employed by Gama Aviatlon (Gama). Seven of the Critical Care Team are paid for by SWASFT, all the rest of the leam members are paid for by DSAA irrespective of employer. In lotal 76 paid individuals on full or part time basis are responsible for the organisation's outputs. The day-to-day management of the charity and Its finances is delegated to the key management personnel, who the Trustees consider to be the Chief Executive Officer. the Deputy Chief Executive Officer, the Finance Manager and the Lottery Manager, Remuneratlon of Key Personnel The Employment Remuneration Committee, consisting of the Chair and two Trustees, is responsible to the Board for an annual review of the staffing levels, contracted terms of engagement and remuneration levels of all salaried staff of DSAA. Salary levels for all staff are considered in line with regional and sector norms set againsl the levels of responsibility expected within a role. The Committee also reviews benefits that affect volunteers, such as mileage allowance, The Committee considers the annual pay review in line with the draft annual budgel for the charity and makes recommendalions to the Board. Produced by Albert Goodman LLP Page 4 The Dorset & Somerset Air Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 Working wlth Volunteers The charity is extremely well supported by ov8r 100 volunteers. They perform a wide range of invaluable duties on behalf of the charity including giving talks, supporting events. servicing collection boxes and running informationlmerchandise stalls. Our volunteers have a thorough induction to the charity wilh one of the Supporter Engagement Officers. The volunteers have access to the charity Handbook which has all Ihe r818vant and essential information Ihat they need when volunteering with Ihe charity. The Support8r Engagement Officers are their main point of contact and provide ongoing support, training and regular catch-up meetings. We believe that our volunteers represent much more than just a "labour source" They are our eyes, ears and voices in the communities we serve. Their interaction with others in their communities helps to raise awareness and boost support for the charity across Dorsel and Somerset. They also provide us with an excellent feedback mechanism, helping us to shape our approach to volunt88ring, fundraising and general operations. Without our volunteers, the charity would not be able to raise the funds required to provide the air ambulance service nor engage as effectively with the community we serie. strategy Charltable Purp080 Dorset and Somers8t Alr Ambulance is a registered charity, established to provide relief from sickness and injury for the people of Dorset and Somerset, by the provision of an air ambulance, with an air and road- delivered critical care capability. Our Mi88lon To save and enhance lives through the funding and provision of an air ambulance service, with an alr and road-deliv6red critical care capability. Our Vlslon Innovation and collaboration are maximised to continually improve patient outcomes and all who need it receive excellent clinical care. Produced by Albert Goodman LLP Page S The Dorset & Somerset Air Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 Our Servlce Our cohort of clinicians include a mixture of senior emergency physicians, intensive care consultsnls and anaesthetists, critical care nurses and specialist practitioners in critical care. 'Critical Care, is Ihe treatmenl of people who are in a critically ill or unstable condition. These patients might be unable to brealhe without support. Critical care is provided in hospital by Intensive Care Units (ICUS) bul pre-hospitally by a 'Critical Care Team,. Vthen responding to incidents by air, we provide a 'Critical Care Team,, consisting of at least a doctor, a specialist practitioner and a pilot for each mission. The doctors are predominalely drawn from NHS Hospital Trusts across the region and the practitioners are from the Soulh Western Ambulance Service NHS Foundation Trust (SWASFT or SWAST). Some clinicians have joined us from further afield, broadening the skills and experience of the team. Our patient and family liaison nurses provide recovery support to patients who have been treated by our team, and to family members of patients, and can answer questions they mighl have about their pre-hospilal care. They also provide links with palient support services and other charities aligned with the patient's condition, whilst encouraging peer support links wilh other similarly injured patients. Our pilots are employed on our behalf by Gama Aviation who operate our aircraft. The pilots come from varying backgrounds, but the aircraft commanders are highly experienced and carefully selected because air ambulance flights are more challenging than regular non-emergency flight services. We operate 19 hours a day {0700 - 0200hrs) providing a critical care service, using our Agustawestland 169 (AW169) helicopler and critical care car. We also provide an enhanced Ca￿ service across Dorset and Somerset using our oulreach cars. Produced by Albert Goodman LLP Page 6 The Dorset & Somerset Alr Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 Our Model of Patlent-Focused Care DS4A ModelfL¥ Poifertr-F(XUSéd Corè- p Hydé RespECr The DSAA Model of Patient-Focused Care (above) shows how, within the overall contexl of the clinical governance of SWASFT, DSAA provides clinical governance aspects in the 'blue' layer and these inform much of the work conducted in the 'green layer.. Importantly, patients and families remain at the cenlre of all Ihinking and the charity's values wrap around everything we do. Assessmenl of success of Ihe clinical strategy is complex and requires careful examination of both empirical data and patient outcomes. There are currently no national criteria of pre-hospital clinical performance against which DSAA can be measured. However, our Glinicians are working with the other air ambulances both regionally and nationally to resolve this issue. In Ihe meantime, the level of demand for our clinical sep4ice from other health professionals (Ambulance Service Paramedics and NHS Hospital Trust Consultants, et al) is at least an indicator of success since il points to professional Irust of the standard of DSAA clinical delivery. In order to continually improve patient care. DSAA conducts a delailed and comprehensive programme of analysis. audit and research on its clinical practices and outcomes using the PHEMnet clinical database system. PHEMnet is used as NHS systems of reporting alone are not yet able to provide the clear patient outcome data that reflecls the care given in the pre-hospital environment. DSAA'S team of Patient and Family Liaison Nurses support palients, progress after their treatment by DSAA and feedback into Ihe charity to enable learning and continuous improvement of care. Produced by Albert Goodman LLP Page 7 The Dorset & Somerset Air Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 The charity acts as an advocate for patient care in the pre-hospital environment by facilitating grealer co- operalive working with all agencies involved in patient care across the South West. This includes providing support to road safety. accident prevention and health promotion initiatives in an effort lo reduce the number of avoidable calls on the Critical Care Team. DSAA aclively includes injury and illness prevention messages into the core of charity activity and communications, and DSAA has an ongoing collaboration with DocBike. a charity who work to eradicate motorcycle deaths through engagement, injury prevention, education and roadside critical care. Partnership make the DSAA service posslble DSAA owns its aircraft, G-DSAA or "Peggy" as it is known but works with Gama Aviation (Gama) to maintain, test, pilot, fly and govern that aircraft. Gama provides a full aviation service managed Ihrough a conlract which encompasses operation and mainlenance of DSAA'S helicopter and provision of backup aircraft, pilots and engineers to support day to day operations as well as full maintenanc8 and logistic support. DSAA has a full complement of five pilols and five first officers, and an engineer focused primarily on DSA4'8 day to day aviation engineering task, employed by Gama, working closely with clinicians and charily staff. The service Gama provides to DSAA includes Continuous Airworthiness Management Organisation (CAMO), Maintenance, Repair, and Overhaul (MRO), and Air Operator Certificate (AOC). The SoLrth West Ambulance Service NHS Foundation Trusl (SWASFT or SWAST) is responsible for tasking the helicopter and supporting the provision of medical team. Support to the charity has been managed through conlracts and Service Level Agreements (SLAS). These cover the provision of 18 Paramedics and Nurses and associated equipment, support and maintenance. This forms part of the Core capability of the charity's clinical provision. SWASFT pay for 7 of the paramedics, but all the other costs are funded by the charity. A further contract wlth SWASFT covers the provision of speclalist Helicopter Emergency Medlcal Service (HEMS) tasking desk to ensure that air ambulances are sent to the most appropriate incidents. The HEMS tasking provision is funded equally by the fve air ambulance charlties operating in the SWASFT area. The charity's clinical activities include significant governance supervision, events and training. However, overall clinical governance of the charity's operations is provided by SWASFT, and consultants working as part of the critical cafe team are also included through honorary contracts with SWASFT. Publlc Beneflt DSAA is free at Ihe point of need and responds only to incidents having been tasked by the HEMS specialisl tasking leam in the SWASFT Dispatch Centre. This ensures that it attends incidents across Dorset and Somerset and, at times beyond its borders, according to where it can deliver best effect. The charity delivers its servlce lo patients, regardless of age, according to clinical priorty and without disGflmination. The continued development of its clinical provision requires the charity to consider olher players in the emergency support to patients. The crews now run regular cross-training exercises with members of the Maritime Coastguard Agency Search and Rescue teams. the Police and Fire Services. road-based elernenls of SWASFT and Emergency Departments of our local NHS Hospitsl Trusts. In doing so it has demonstrated its patient-focus and benefil to every segment of the population resident in and transiting through both counties and around their borders. Produced by Albert Goodman LLP Page 8 The Dorset & Somerset Air Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 No private benefit use of the Dorset & Somerset Air Ambulance helicopter is given to anyone at any time. The Trustees run the Gharily with due regard to the public benefit guidance issued by The charity commission and the Charities Act 2011. Envlronmental Impact Our service is dependent on getting our critical care team (a consultant grade doctor and specialist practitioner), with all the necessary equipment that you would normally find in an intensive car8 unit, to patients as quickly as possible. Having treated the patient at scene, they then need to be transferred rapidly to lh8 right hospital so they can receive the urgent ongoing care thoy need this is often a major trauma centre oulside of the two counties we serve. The geography and road network of Dorset and Somerset means that rapid deployment of our critical Gare team to patients must be by air and requires a helicopter. We are also committed lo engaging daily with our emergency service colleagues through our outreach programme and supporting them by providing an enhanced care service using Iwo outreach cars across the region (one in Dorset and one in Somerset). Our outreach and enhanced care service needs to move rapidly around a smaller geographic area and be able to reach almost anyway without pre-planned routes or slops, therefore the cars require to be equipped for blue-light response. Whlle we would never compromise our life-saving service, we ￿cOgnise the responsibility to reduce our carbon foolprint and environmental impact where we can. Emergency Vehlcles Our life-saving service requires a helicopter, for which renewable fuel is not currently viable. Similarly, fully electric emergency response cars are not yet viable in our geographic area given the need for continuous availability and driving. We hope thal renewable fuel andlor electric vehicles will become viable for emergency respons8 use In future. In Ihe meantime, we will explore the best way lo carbon offset this necessary fuel use. Travel to work Electricity for charging of personal electric vehicles is available al our operational base. As we plan the base redevelopment, the provision of eleclric vehicle charging will be increased. The charity uses digital and online meeting tools and encourages their use, enabling our people to join meetings and work collaboratively without the need for travel. Rocycllng Our offices at Wellington and Wimborne and our operational base at Henstridge have recycling areas for office and personal waste we encourage our people to recycle where possible. Furthermore, the charity works with a textile recycling partner to provide recycling banks across Dorset and Somerset, enabling and encouraging the public to recycle textiles and clothes while supporting Ihe charity. Merchandlse We have reviewed all our fundraising merchandise and discontinued the sale of plastic and non-renewable items. Reduce paper and packaging The charity has moved to storing documents electronically wherevar possible and to reducing printing and photocopying. All paper packaging used to mail our Beeline magazine is FSC and PEFC approved, meaning it is only sOUr￿d from sustainable paper supplies. It is easily recyclable with ordinary household recycling and requires less C02 and chemical process to produce than most alternative packaging. Produced by Albert Goodman LLP Page 9 The Dorset & Somerset Alr Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 A new base to su ort our mission eo nd the environment We need and intend to redevelop our operational base in order lo accommodate an expansion of our service and meet the needs of patients across in the region. In designing and building the new base, we will ensure that it: Creates efficienl systems of work to optimise our response lo palients in nee(1 Is designed to best support the physical and mental wellbeing of our crews Supports the recovery of palients who have been treated by our Ciitical Care Team Is efficient in 8n8rgy consumption and incorporates renewable energy generation where possible Continues to use the groundwater of the marsh and rain to provide for aviation safety Achlevements and Perfonnance The core of DSA4's service is pre-hospital critical care and enhanced care. This is care that the NHS cannot currently provide itself, and it relies on having a helicopter to get our critical care team to the patient and then the patient directly to the right hospilal to provide the right urgenl care that they need. DSAA'S mission and vision mean that the charity slrives to reach all palients that need the critical care or enhanced care Ihat we provide prevhospital and would otherwise not be available. In the last year, DSAA has again increased the number of patients it r8aches with needed critical and enhanced care. In the twelve months lo March 2024, DSAA was lasked to 2909 incidenls, an increase of nearly 500 from 2424 the previous year. 1397 of these missions were activalions of the critical care team by helicopter or, occasionally. by car, in comparison lo 1213 in the twelve months to March 2023. Actlvity of the outreach cars increased, from 1210 rnissions in the twelve months to March 2023 to 1512 in the year to March 2024. This enables DSAA to provide enhanced care (treatment which is beyond what the ambulan￿ service could otherwise provide) lo patienls, ensure good close working relationship with colleagues in the ambulance service and other emergency services, and support the helicopler transported critical care team. The type of incidenl that DSAA was tasked to was broadly similar to previous years. In the twelve months to March 2024, DSAA missions were 470/0 trauma, 210/0 cardiac. 310/0 medical and 10/0 urgerbt inter-hospital transfer; this compares to 470/0 trauma, 240/0 cardiac, 260A medical and 1 OA transfer in the previous period (2 % other). A little under a half of the trauma incidents to which DSAA are tasked are road traffic incidents; with falls and then a wide range of different sources of Irauma making up the rest. 'Medical' incidents are half cardiac arrest and then a range of collapses. fits, poisoning and other. In the last year, we arrived al 1891 incidents, altending 1721 patients and ultimately providing crltical or enhanced care to 1473 patients by our specialist Doctors and l 01 Practitioners. Of the patients that DSAA treated in the twelve months to March 2024, 178 were children (under 18 years old), with 154 of those being under 16. DSAA provided blood to 60 patients at scena or during transfer to hospital during that period. Getting the critical care team or enhanced care lo a patient quickly is often vital, and Iherefore Ihe teams continue to keep pressure on the time from activation lo take-off. At night, this is slightly longer due to the need for additional flight planning. In the recent period. the mean time to take-off during daylight was 7 minutes, consistenl with the previous year and achieving our target; and at night was 10 minutes, an improvement on 11.5 minutes in the year to March 2023. As limeliness can be vital, the teams are sometimes tasked, and therefore adivated, when probably needed but then stood down when more details are known about the incident. Stand-downs have remained relatively consistent Ihrough recent years at about a third, and DSAA is not slriving to reduce this as that would risk activating late, and therefore arriving late, to patients that urgently need critical care. Produced by Albert Goodman LLP Page 10 The Dorset & Somerset Air Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 Hellcopter & Crltlcal Care Car (CCC) Pre-hospital critical care is delivered by a DSAA 'Critical Care Team,. consisling of at least a doctor and a specialist practitioner. Getling Ihe critical care team to the patient rapidly, and then getting the patient to the right hospital to deliver the right care, is where the aircraft with pilot and co-pilot come in. If the aircraft is not able lo be used, due to weather or maintenance, the critical care team respond by car and onward patient transfer is using a road ambulance. The geography of Dorset and Somerset means that the aircraft is usually required. The availability of our aircraft in the last twelve months has been 95.20/0, requiring the commilment and dedication of the engineering and aviation leams, often working during the night between 0200 and 0700hrs when DSA4 does not have an operational shift. Outreach Response Cars (ORC) The role of the ORC is to raise awareness of the patient benefit that can be derived from the timely delivery of critical care to other health professionals. This deliberate engagement with the ambulance service and olher emergency services directly improves on-scene collaboration, so that DSAA crews can be most effective in the provision of care. The ORCS are also tasked to patients who need an enhanced level of care that a normal road ambulance crew is unable to deliver. On scene. our practitioner will either treat the patient alone or more often work with a road ambulance crew. If helshe assesses that the patient requires critical care, they can advise SWASFT and our Critical Care Team on the helicopter. Inter.Hospital transfor In addilion to the routine, day to day tasking of HEMS missions, DSA4 also carries out inter-hospital Iransfers of the sickest patients from local hospitals to the regional specialisl hospitals. This work includes support for adults and children. Enhanced Care Responder Scheme Following suggeslion by critical care practitioners working for DSAA, the charity has introduced a naw Enhanced Care Responder Scheme (ECRS) on a two-year trial. Clinicians in this scheme are able, outside of their paid working hours. to voluntarily book on as available to be tasked to incidents which need enhanced care in their area. DSAA is providing the clinicians taking part in this voluntary scheme with all the equipment required to provide enhanced care and the car conversalion to respond under blue lights. Clinical govemance of their activity is provided by DSAA under SWAST governance, as per all DSAA clinical activily. This voluntary scheme supports the DSAA drive to reach every patient Ihat needs critical or enhanced care. The schema will be reviewed periodically though the two-year trial. Operational Support Actlvlty Our Patient and Family Liaison Nurses (PFLNS) team was expanded in 2022, and Ihrough 2023 has continued to build relationships with patients, families and with the key elements of the care pathways. They have helped to improve understanding of patients and those closely affected by the care that is delivered. They are also providing high quality feedback to our clinicians on patient progress and professional feedback on the care delivered. Given the challenging nature of the work of DSAA'S clinical and aviation crew, DSAA started a trial of psychological supervision programme for its own team four years ago. Following a review. this has now been confirmed as an ongoing, much-needed layer of support lo the well-being of our crews and an excellent complement to the services available to all clinicians through their parent NHS Trusts. Research The DSAA Research Team which is fomially led by a Professor and Lead Research Practitioner. A rounded portfolio of research activity is being developed based on an assessment of the research needs in pr8- hospital etnergency medicine, which was completed with partners across the country. Produced by Albert Goodman LLP Page 11 The Dorset & Somerset Alr Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 DSAA is part of the SWIFT trial (Study of Whole Blood in Frontline Trauma). This study will look al whether giving 'whole blood,, instead of red blood cells and plasma, to patients with severe bleeding before they get to hospilal. will be better at reducing the number of deaths 24 hours after injury and reduce the need for further large blood transfusions, DSAA and Ihe University of West of England (UWE) are co-funding a PhD study of the tasking of pre-hospital critical care assets. This work started in January 2024, to investigate how Emergency Medical Service specialist critical care resource allocation can be improved and is expected to conclude in 2026. Avlatlon Services Provid•r Change DSAA owns its helicopter, an Augusta Westland 169 (AW169). The aircraft is registered, maintained, governed and operated for DSAA by an aviation services provider in order to provide the necessary skills, regulatory adherence, and personnel. At the start of the financial year 2023-2024, the aviation services provider contracted to DSAA was Specialist Aviation Services Lld {SAS Ltd). SAS Ltd also provided aviation services to other UK air ambulances with AW169 aircraft. During 2023, DSAA became aware that SAS Lld was experiencing financial difficulties. SAS Ltd was put up for sale in December through an 'accelerated' process after a financial review concluded its capital 8tru¢ture was not fit for purpose. In order to manage the situation, DSA4 liaised appiopriate with the charity commission and secured expert and legal advice, much of which was provided pro-bono or at reduced rates. DSAA worked very closely with all parties involved in the sale of SAS Lld in order to ensure thal DSA4 operations and life-saving sep4ice to patients continued uninterrupted, and to steward and safeguard charity resources and reputation. DSA4 conducted due diligence on Gama Aviation {Gama) and assessed their capabilities and lerms. Being pleased with the finding of review of Gama, DSAA proceeded to negotiate and agree novation of the relevant contracts to Gama, who are now the charity's aviation services provider. Transition from SAS Ltd to Gama has been smooth, wilh no impact on DSAA operational capability or increased running cosls for the charity. Income Generation Fundral8lng The charity's fundraising is in significant part based on voluntary fundraising, concentrating on achieving a high volume of smaller donations rather than a low volume of high value donors. To Ihat end, we support individuals and groups who run events and activities on our behalf. Over the last couple of years, DSAA has also increased the number of events it runs itself, trialling further running, cycling and open garden events as well as th8 established DSAA Coast to Coast Cycle Challenge. As the environment for fundraising changes, and as we continue to evolve the DSAA service provision to best serve our Gommunity and save lives, the charity will review its fundraising activities for the future. However, the Gharity's commitment to mainlaining high standards will absolutely remain. Donatlons Our supporters continue to fundraise for us enthusiastically. and we are incredibly grateful for all their efforts and their activities of all types and sizes, which includes £897,313 from sponsored activities, businesses and group fundraising and £949.390 from individual donors. Total donalions have increased in the current year to £1,713,360 compared to £1,558,409 in the previous year. Produced by Albert Goodman LLP Page 12 The Dorset & Somars8t Alr Ambulance Charity Trustee Direclors, Report For the Year Ended 31 March 2024 Glfts-ln-wllls {Legacle8) Gifts in Will income this year was £1,952.065. This is an increased from £1.525,453 in the year to March 2023, which was itself low due to the timing of legacies at the end of March 2022. DSAA is aware of the ongoing delays and backlog in processing of probate in the UK and is taking steps to increase monitoring of gifts in wills and legacies intended for DSA4. Commltted Glvlng and Charlty Prlze Lottery The charity's prize lottery represents the single biggest component of our overall income. Over recent years, the charity have also introduced and are growing a 'committed giving, altemative way for supporters to make a regular monthly donation to DSAA. DSAA manage the lottery and committed giving in-house but outsource the canvassing activity in support of these initiatives to a third-party canvassing provider. Following the pandemic and in the current national employment situation, recruiting canvassers is currently extremely challenging. Vacancies in the DSAA committed giving and lottery canvasser teams has hampered DSAA maintaining the lottery and Gommitted giving income. During the year, DSA4 has introduced a new annual 'superdraw.' Supporters wishing to b8 part pay £5 per month instead of £1 per week, in retum for which they are entered into the annual superdraw in addition to the weekly draws. In the year ending March 2024 the superdraw brought £85,075 income, which will Increase in future years as more participants will have been in for a full year. The lottery's total gross income for the year ending March 2024 was £4,023,182, a £327,241 decrease on the previous financial year. The two additional seasonal raffles banked £216,171, which is slightly less than the year ending March 2023. Collectlon boxes Our collection boxes are distributed across the two counties, collected and maintained by volunteers working under the direction of DSAA staff. Opening, counting and banking of boxes is done only in DSNA offices in secured & monitored room. We also have QR donation codes on our tins for those that do not carry cash, and we have Irialled the use of contactless payment for donations at events. InvoStments & Interest DSAA invests a proportlon of its raseNas in order lo conserve the value of those reserves agalnsl Inflatlon and to provide income to contribute to the regular running costs of the service. The charity received £527,960 from its long-term investments and £372,731 from bank interest in the year to March 2024. Produced by Albert Goodman LLP Page 13 The Dorset & Somerset Air Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 Income Generatlon Ethlcal Commltment, Safeguarding and Complalnts handllng The charity is committed to maintaining the highest standards of fundraising behaviour and is registered with the Fundraising Regulator. Our commitment made to donors and the public is to ensure that our fundraising is legal, open, honest and respecfful. The standards of fundraising are set out in the Fundraising Code of Practice and DSAA carries out regular internal audits to ensure our fundraising aclivity adheres to this code. DSAA'S Safeguarding policy states that concems or allegations of abuse or neglecl will always be taken seriously and investigated and DSAA seeks to safeguard adults at risk and children by valuing, listening to and respecting them. All Trustees, employees and volunteers have aC￿sS to. and are familiar with. this policy and will know their responsibilities within it and have access to Safeguarding Procedures including how to report concerns or allegations of abuse. All managers are responsible for promoting awareness of this policy within their leams. All contracts with third parties associated with DSAA lundraising are set in line with the guidelines issued by the Fundraising Regulator. Our Lottery and Committed Giving Face-to-face Fundraisers are all checked and go through a strict induction process where they will be asked to follow the canvassers charter. This states that they should always act with integrty, honesty, and transparency and in such a manner that supporters are not misled. Dementia friends training is also undertaken so that DSAA employees and Face-to-face Fundraisers can gain a better understanding of the condition while helping them to leam how to recognise a vulnerable adult and act appropriately. During interactions. Face-to-face Fundraisers are alert lo any signs that the individual may not be able to make an informed choice and if the Face-to-face Fundraiser has any grounds for concern, then a commitment should not b8 taken. Any customer who joins with a Face-ttrface Fundraiser will be given a confirmation receipt straight away, with a welcome letter arriving a few days later as a physical sign of what has been arranged. Any concern from a customer or a member of Iheir family that they had not been aware of or understand what they had set up, will result in an immediate cancellation and rf required the offer of a refund of any monies already taken. To ensure that we are maintaining the highest standards of fundraising we also make regular compliance calls to new lottery members lo check that Face-to-face Fundraisers are all consistent in their behaviour and that the customer is happy with their Face-to-face Fundraiser experience and to able to support the charity in this way. Any complaints that are received are treated seriously and dealt with promptly, amicably, and efficienlly by the lottery or fundraising team. We ensure that complaints are treated in confidence and aim to resolve the complaint within 10 working days. Most complaints are satisfactorily and immediately resolved without the need for any further action. Any complaints regarding Face-to-face Fundraisers that do need to be escalated are passed to the supeNisor and then LFS to investigate. Over the last year, despite active monrtoring and proactive compliance calls we have only received five reports of negative attitude by Face-to-face Fundraisers, These have been discussed with Ihe superyisor and subsequently with the individuals. No complaints were received regarding fundraising activities OLrtside of lottery and committed giving canvassing. Produced by Albert Goodman LLP Page 14 The Dorset & Somerset Alr Ambulance Charity Trustee Directors, Report For the Year Ended 31 Maich 2024 Future Plans rea in Critical Care availabili The number of patients that DSA4 reaches has been increasing year-On*year since the charity first began work. However, the patient reach that thè charity can achieve is currently limited by: the time that our aircraft is off-line for maintenan￿, repairs and pilot certification. weather restriction on flying, particularly low cloud. and the hours that DSAA does not have a duty shfft, i.e. 0200 to 0700. DSAA'S mission and vision entail that the charity should try to reach all those patients that need its pre- hospital critical care. DSAA critical care availability could be increased by havlng at least one aircraft available throughout the current 19 hours per day duty shift, Furthermore, the charity considers that there are patients needing critical care between the hours of 0200 and 0700 in Dorset and Somerset, who would benefit from the provision of its critical care service for 24 hours per day. DSAA is therefore currently assessing the potential to increase its aviation capacity in order to reach more patients during our current 19 shifts and then the potential to increase the hours of the day in which our critical care team is available. In order to Improve availability via aircraft during periods of low doud, DSAA is working with the Civil Avialion Authority (CAA), supported by the Department for Transport, to implement a Global Navigation Satellite Syslem approach to its basa at Henstridge AirfEld. This has been selected by the CAA as one of the five Inilial sites for 'blue light, services use of this syslem. Alr Base development As the provislon of care and the aviation capability of DSAA has developed, so the needs on the airbase have increased, In order to support the existing and further development of the servi￿, the charty is assessing the more eificient way to redevelop our operational base. Research Continuous improvement in prehospital emergency medicine and critical care must be based on good eviden￿. DSAA will continue to develop the use of clinical data to advocate for improvemenls in patient care Ihrough audit and research, and provide a DSAA Clinical Research Lead. We will take part in clinical studies that address key questtons in the provision of prehospital care, such as the Swlff study and the ongoing PhD study into effective HEMS tasking. Flnanclal sustalnablllty Over iecent years, DSAA has increased Ihe feach and capability of its critical care and enhanced care to patients, focusing its efft>rts and spend onto those aspects of its mission and vision, and keeping centred on care for patients and their families. Supporters in Dorset and Somerset have been, and continue to be, generous with their support for our service. As the capability and activity level of the DSAA service has increased to fill patient need, so Ihe costs have inevitably increased and these have been compounded by recent inflation, such that DSA4 now spends annually all the charitable funds that it receives. In order to ensure that future costs and development of the clinical service are financially suslainable, DSAA is looking at increasing its fundraising activity, investing modestly to increase rts engagement with corporate partners, grant funders, charitable trusts and individual donors. Produced by Albert G¢)odman LLP Page 15 The Dorset & Somer88t Alr Ambulance Charity Trustee Directors, Report For the Year Ended 31 March 2024 Flnanc5al Revlew Transactlons and Flnanclal posltlon The Statement of Financial Activities shows a net surplus in funds of £1.516,792 (2023 - deficit £1.687.462) and reserves stand at £42.676.249 of which £321,289 is restricted. The cash and cash equivalents at the end of the financial year stood at £8,062,875 with a further £3,374,451 in cash term deposrts. Tanglble Flxed assets for use by the Charlty Details of the movements of fixed assets are set out in note 10 of the Accounts. Investment Pollcy The charity invests resetves in order to conserve the value of those reserves against inflation and to provide income to contribute to Ihe regular running costs of the service. The charity appoints professional investment management firms to manage the investment assets on a discretionary basis, in line with the ethical investment policy and to produce the best financial return within an acceptable level of risk. In order to mitigale the risk of investments, the Core Financing Fund investments are managed by three separate investment managers and an active cash management service. The charity has adopted an ethical investment pollcy to ensure that Its Investments do not conflicl wlth its aims, and our investment managers must demonstrat8 the Environmental, Social and Governance (ESG) issues are core lo their 'house' investment policies and reviewed regularly. Produced by Albert Goodman LLP Page 16 The Dorset & Somerset Alr Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 Reserves pollcy Given the mission lrfe-saving criticality of DSAA servi￿, our reseNes policy is to hold sufficient reserves to ensure that our work is protected from the risk of disruption and to enable future Major investments required for development of our seNice in besl interests of palients. This means thal the charity holds reseryes; to cover any disruption of income or unforeseen cost without significant reducing clinical service for a period of two years to cover all working capilal requirements to build capital for investment in assets necessary for provision of critical care and helicopter ambulance, such as airbase. future aircraft and medical equipment to provide income into the ongoing regular running cosl of the service DSAA policy is therefore to hold 6-12 months free reserves. The charity's mission and vision entail that it provides excellent clinical care, that it strives to reach all patients who need critical care and that it remains financially sustainable in order to do so. Practical limitation is put onto the charity's operations by the current airbase, which was built in an era of a smaller aircraft and fewer staff, and the inevitable limitations of depending on a single aircraft. In order to reach morej patients who need critical care, and to continue excellence in the care delivered, the charity intends to invest reserves in: further aircraft which will enable the team to be fully operational and be able lo reach patients more of the time redevelopmant of Ihe operational airbase During an exceptional period of legacy and prize lottery fundraising income, our Trustees made the decision to accumulate reserves for specific purposes that will improve the organisation's s8Diice delivery and future sustainability. These funds are designated into the following categories: £16m £8m £17m designated tovRrds significant capital projects (£11 m helicopter, £5m airbase) free reserves (equivalent to 10 months operational costs) long term investment as Core Financing Fund, with target to cover up lo 5% annual expenditure Fund would be available to draw down if charity experiences an exceptional drop in income, or in order to enable key strategic capital investment in operations infrastructure or equipment The £5m designated so far for the new airbase is not expected to cover the full cost of base development, and the board expect that further investment will be required. Increases in operalional costs have coincided with legacy, prize lottery, donation and investment income all falling or stagnating. This has placed the charity in an ongoing annual deficit position, requiring it to expand and diversify income streams for it to continue providing essential support to critical care patients. The Trustees continually revlew the reserves pollcy lo make sure that the funds which DSAA has are best used to Ihe charity's purpose and mission to save and enhance lives, while also ensuring good financial sustainability to continue its life-saving service. With the reserves in mind, the Trustees judge Ihe financial posrtion of the charity to be satisfactory. Produced by Albert Goodrnan LLP Page 17 The Dorset & Somerset Air Ambulance Charlty Trustee Directors, Report For the Year Ended 31 March 2024 Rl8k The principal risks to which the charity is exposed are set out in its Risk Managemenl Strategy which is supported by a Risk Matrix. The Risk Matrix presents a high-level overview of the identified risks, status, including the probability and impact of occurrence, mitigation measures and the person responsible for managing the risk. The Risk Malrix is reviewed quarterly at each meeling of the Board, and in this way Ihe Board maintsins oversight of idenlified risks and is can satisfy itself that proper measures and systems are in place to mitigate or eliminate those iisks, and thal appropriate insurance cover is obtained. Much of the operational risk Is managed in conjunction with Gama and SWASFT. The DSAA Aviation Sub- Committee has reviewed Gama as the provider of aviation services to DSA4 and the Trustees are assured that Gama is a competent provider to deliver aviation services lo DSAA. Trustees with clinical experience review the workings of DSAA clinical governan¢e activities, which fall under the overall clinical governance within SWASFT. DSAA, like most charities, must manage risk relating to reputational or financial issues. Although separate in nature, they are inextricably linked. Clearly, the reputation of Ihe charity in its ability to deliver its clinical service is vital to generating and maintaining donor support. Key financial risks reviewed by the Board of Trustees quarterly are.. major loss of income due to competition for fundraising or changes in legislation. loss of donor confidence because of adverse publicity, loss of donor support due to perception of high reserves and loss of aC￿sS to critical data. Mitigation measures in place include: Networking with other charities across the area. Monitoring legislative developments. Adherence to fundraising codes of practice. Development of strategies to counter negative impacts on income. Cultivation and retenlion of effective media links. Maintenance of transparency. Demonstrating to the public that their donalions are being well spent and well managed by being transparent in all communications. Not employing 'cold calling. telemarketing or sending unsolicited mail or email. Statement of Trustees. Responslbllltle5 The Trustees (who are directors of The Dorset & Somerset Air Ambulance Charity for the purposes of company law) are responsible for preparing the Trustee Directors, Report (incorporating the Directors, Report) and the financial stalements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Produced by Albert Goodman LLP Page 18 Tha Dorset & Somerset Air Ambulance Charity Trustee Directois, Report For the Year Ended 31 March 2024 Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company, for that period. In preparing these financial slatemenls, the Trustses are required to.. Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP; Make judgements and accounting estimates that are reasonable and prudent. State whether applicable UK Accounting Slandards have been followed subject to any material departures disclosed and explained in the financial statements,, Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate acGounting records Ihat disclose with reasonable accuracy at any time the financial position of the charitabla company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charilable company and the group and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. In so far 88 the Truslee8 are aware: There is no relevant audit information of which the charitable company's auditors are unaware. and The Trustees have taken all steps that Ihey ought to have taken to make themselves aware of any relevant audit information and to establish thal the auditors are aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial slatements may differ from legislation in other jurisdictions. Audltorn The auditors, Albert Goodman LLP, are deemed lo be reappointed under section 487{2) of the Companies Act 2006. By order of the Trustees. Bryce Chair The Dorset & Somerset Air Ambulance Charity Date.. Produced by Albert Goodman LLP Page 19 The Dorset & Somersat Alr Ambulance Charlty Independent Auditors, Report to the Trustees and Members For the Year Ended 31 March 2024 Oplnion We have audited the financial statements of The Dorset & Somerset Air Ambulance Charity (the 'charitable company,) for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally A¢￿pted Accounting Practice, including Financial Reportin9 Slandard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charilable company's affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then end8d; have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Acl 2006. Basls for oplnlon We conducted our audlt in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibililies under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that afe relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements, We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng Concern In auditing the financial statements, we have concluded that the trustee's use of Ihe going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling lo evenls or conditions Ihat, individually or collectivety, may cast significant doubt on the entity's ability to continue as a going concem for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the direclors with respect to going Concern are described in the relevant sections of this report. Other Inlomiatlon The trustees are responsible for the other information. The other Information comprises the information included in the Trustees. Report, other Ihan the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connects'on with our audit of the financial statements, our reSF￿nsibl1itY is to read the other Information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude thal there is a material misstatement of this other information, we are required to report that fa￿, We have nothing to report in this regard. Produced by Albert Goodman LLP Page 20 The Dor8et & Somerset Alr Ambulance Charlty Independent Auditors, Report to the Trustees and Members For the Year Ended 31 March 2024 Oplnlon on other matter prescrlbed by the Companles Act 2006 In our opinion, based on the work underlaken in the course of the audit.. the information given in the Trustees, Report, which includes the Directors, Report prepared for the purposes of company law for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Directors, Report induded within the Trustees, Report have been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate and proper 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 truslees, remuneration specified by law are not made: or we have not received all the inforrnation and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibilities [sel out on page 16], the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of th6 financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparlng the financlal statements, the trustees are responsible for assesslng the charlt8ble company's ability to continue as a going COn￿rn, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's re8pon8lbllltle8 for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably b& expected to influence the economic decisions of users taken on the basis of these financial statements. A furlher description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at vNpN.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Irregularities, including fraud, are instances of non-compliance with laws and regulations, We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, induding fraud. The extent to which our procedures are capable of detecting iiregularities, including fraud is detailed below., Produced by Albert Goodman LLP Page 21 The Dorset & Sornerset Air Ambulance Charlty Independent Auditors, Report to the Trustees and Members For the Year Ended 31 March 2024 The extent to whlch the audft was considered capable of detectlng Irrggularltles Includlng fraud Our approach to identifying and assessing the risks of malerial misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: the engagement partner ensured that the engagemenl 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 lo the company through discussions with management. and from our commercial knowledge and experienc8 of the charity sector. we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the opefations of Ihe company. including the Companies Act 2006, Charities Act 2011, Gambling commission registration, fundraising regulalor registration and data protection legislation; we assessed the extent of compliance with Ihe laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to InStan￿S of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatemenl, including obtaining an understanding of how fraud mighl occur, by. maklng enquiries of management as to where Ihey considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud., and considering the internal controls in place to mitigate risks of fraud and non-compllance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships,, tested journal entries to identify unusual transactions; assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias., and investigated the rationale behind significant or unusual Iransactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limiled to: agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance,, enquiring of management as to actual and potential litigation, claims and breaches of relevant legislation. and reviewing correspondence with the charity commission and other relevant regulators including the company's18gal advisors and insurers. There are inherent limilalions in our audit prO￿dureS described above. The more removed that laws and regulations are from financial transactions, the less likely it is that W8 would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion, Produced by Albert Goodman LLP Page 22 The Dorset & Somerset Alr Ambulance Charity Independent Auditors, Report to the Trustees and Members For the Year Ended 31 March 2024 Use of our report This report is made solely to the charitable company's members, as a body. in accordan￿ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to stale to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body and the charitable company's trustees as a body. for our audit work, for this report, or for the opinions we have fomied. Michelle Ferris Bsc (Honsj FCA DChA Senior Statutory Auditor for and on behalf of Albert Goodman LLP Chartered Accountants Statutory Auditor Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Date.. 3.o.191.7.4................. Produced by Albert Goodman LLP Page 23 The Dorset & Somerset Air Ambulance Charity Statement of Financial Activilies (including Income and Expenditure Account) For the Year Ended 31 March 2024 Unrostricted Restrlcted 2024 Total Unrestrl¢ted Restrl¢ied 2023 Total Notes Income: Donations and legacies Trading activilies Investmenl Income 3,627,145 4.475,007 900,691 362,238 3,989,383 4,475,001 900,691 3,364,683 4,652,040 680,468 26,787 3,391,470 4,652,040 680,468 Total income 9.002.837 362,238 9,365,075 8,697.191 26,787 8,723,978 Expendlture: Raising funds Charitable activities 1,166,754 8,580,491 1,166,754 8,621,440 1,124,732 7,773,776 1.124,732 7,773,776 40,949 Total expenditure 9,747,245 40,949 9.788,194 8,898,508 8,898.508 Net Income I lexpendltur•) before other recognlsed galns and lo$$e8 (744,408) 321,289 (423.119) (201,317) 26,787 (174,530) Net gain l (loss) on investments 12 1,847,499 1,847,499 (1,512,932) (1,512,932) Net Income before transfers 1,103,091 321,289 1,424,380 {1,714,249) 26,787 (1,687,462) Transfers 13,156 (13,156) 13,631 113,631> Net movemènt in funds for the year 1,116,247 308,133 1,424,380 (1,700,618) 13,156 (1,687,462) Re¢onclliatlon of fund8 Total funds brought forward Total funds carried forward 41,146,301 13,156 41,159,457 42,846,919 42,846,919 42.262,548 321,289 42,583,837 41,146,301 13,156 41,159.457 The slatement of financial activities has been prepared on the basis that all operations are continuing operations. There were no gains or losses arising in the year thal are not shown above. The statement of financial activilies incorporates the income and expenditure account Produced by Albert Goodman LLP Page 24 The Dorset & Somerset Air Ambulance Charity - Company Registration Number: 03893356 Balance Sheet As at 31 March 2024 2024 2023 Notes Fixed assets Tangible fixed assets Intangible fixed assets Investments 10 7,305,115 74,370 12 23.683,337 7,659,181 21,429,069 31.062,822 29,088,250 Non 1 year) Current asset investrnent (due < 1 year) 4,500,414 3,310,069 7,700,448 7,700,448 7.810,483 Investments are split in Ihe statutory accounls based on maturity date. 14. Stocks 2024 2023 Goods for resale Medical consumables 3,311 17.818 5,485 21,129 5,485 Produced by Albert Goodman LLP Page 41 The Dorset & Somerset Air Ambulance Charity Notes to the Financial Statements For the Year Ended 31 March 2024 16. Debtors 2024 2023 Other debtors Prepayments and accrued income 250,304 963,787 125,743 656,962 1,214,091 782,705 16. Creditors= Amounts falllng due wlthin one year 2024 2023 Deferred income,, lottery receipts Other creditors Accruals Amounts owed to group undertakings Taxation and social security 475,769 136,461 488,544 416,176 219,943 262,228 23,756 20,805 1.124,531 919,153 Reconcllatlon of deferred Income . Lottery recelpts Opening balance Received during the year Released during the year 416,176 501,384 4,082,775 4,265,215 (4,023,182) (4,350,423) Closing balance 475,769 416,178 Produced by Albert Goodman LLP Page 42 The Dorset & Somerset Alr Ambulance Charily Notes to the Financial Statements For the Year Ended 31 March 2024 17. Summary of movement in funds Gainl(lossl on investments & transfers Opening balance Closlng balance Income Expendlture Unrestrlcted funds General Fair value reserve 5.072.392 33,909 9,002,837 {9,747,245) (3,065,436) (33,909) 1,262,548 5,106,301 9.002,837 (9.747.245) (3,099,345) 1,262,548 Deslgnated funds Disruption reserve New aircraft fund Airbase redevelopment Staff responding scheme Core financing fund 20,000,000 11,000,000 5,000,000 40,000 (12,000.000) 8,000,000 11,000,000 5,000,000 (40.000) 17,000,000 17,000,000 36,040,000 4,960,000 41,000.000 Total unrestrlcted fundJ 41,146,301 9,002,837 (9,747,245) 1,860,655 42,262,548 Restrictsd fund8 County Air Ambulance Trust- HELP Appeal Gift- B Dicks CPR Project HELP Appeal - lights at Dorchester helipad 13,156 (13,156) 320,000 11,456 320,000 1,289 (10,167) 30.782 (30,782) 13.156 362,238 (40,949) (13,156> 321,289 Total funds 41,159,457 9,365.075 (9.788,194) 1,847,499 42,583,837 The designated funds shown above refleGt decisions taken by the Trustees prior to the year end. Please see the Trustees Report for details. Produced by Albert Goodman LLP Page 43 The Dorset & Somerset Alr Ambulance Charlty Notes to the Financial Statements For the Year Ended 31 March 2024 Galnl(loss) on Investments & transfors Openlng balanco Closlng balance Income Expenditure Unrestrletad funds General Fair value reserye 41,315,380 1,531,539 8,697,191 {8,898,508) (36,041,671) (1,497,630) 5,072,392 33,909 42,846,919 8,697.191 (8,898,508) (37,539,301) 5,106,301 Deslgnated funds Disruption reserve New aircraft fund Airbase redevelopment Staff responding scheme 20,000,000 11,000,000 5,000,000 40,000 20,000,000 11,000,000 5,000,000 40,000 36,040,000 36,040.000 Total unrestrlctsd funds 42,846,919 8,697,191 (8,898,508) (1,499,301) 41,146,301 Restrictsd funds County Air Ambulance Trust- HELP Appeal 26,787 {13,631) 13,156 26.787 {13,631) 13.156 Total funds 42,846,919 8,723,978 {8,898,508> (1,512,932) 41,159,457 Summary of movement In funds The falr value reserve is an accumulation of unrealised gains and losses, being the difference belween market value and the cost of investments. The reserve cannot fall below £0 and is therefore capped at this if downward revaluation in the year exceeds broughl forward reserves. Designated funds - Disruption reserves - free reserves to mitigate short- to medium-lerm risk of disruption, sel at 2 years running costs. Designated funds - New Aircraft fund - towards purchase of a second aircraft which will enable the team to be fully operational and be able to reach patients more of the time. Designated funds - Airbase Redevelopment fund - towards redeveloping the operational airbase Designated funds - Staff Responding Scheme - reserves in order to conserve thé value of the reserves against inflation and to provide income to contribute to the regular running cosls of the service. Designated funds - Core Finance Fund - a long term investment with a target to Gover up to 5 % annual expenditure and would be available to draw down if charily experiences an exceptional drop in incorne, or in order to enable key strategic capital investment in operations infrastructure or equipmenl. County Air Ambulance Trust - HELP appeal funds have been received towards the runway lights and windsock and Helipad lighting. Produced by Albert Goodman LLP Page 44 The Dorset & Somerset Alr Ambulance Charity Notes to the Financial Statements For the Year Ended 31 March 2024 CPR Project - The Grace Trust. The Hobson Charity, and Trust Dental supported DSAA with grants totalling £11,456 to equip and run a project in which DSA4 volunteers demonstrate to the public how to perform cardiopulmonary resuscitation (CPR) and use a defibrillator. B Dicks gift a gift-in-will was retsived from a B Dicks to use on medical equipment. This generous legacy is being used for the new medical interior of the helicopler HELP Appeal funds hava been received for helipad lighls to support air ambulance landing at Dorchester Hospital Where transfers have been made out of funds, they relale lo the purchase of fixed assets, which is taken to discharge the restriclion. 18. Analysis of assots ￿tWeen funds Cash at Flxod bank and In assets hand (tanglble Long tsmi (including and Invest- short term Intanglble) ments investments Other net current assets Current 2024 Total Unrestricted funds Designated funds Restricted funds 7,379,485 (6,227,626) 1,235,220 (1,124,531) 1,262,548 23,683,337 17,316,663 41,000,000 321,289 321,289 7,379,485 23,683,337 11,410,326 1,235,220 (1,124,531) 42,583,837 Analysis of assots between funds - prior year Cash at Flxed bank and In assets hand (tanglble Long term (Includlng and Invest. short term Intanglble) ments investments) Other net current assets Current liabilities 2023 Total Unrestricted funds Designated funds Restricted funds 7.659,181 (2,421,917) 10,110,517 13,156 788,190 (919,153) 5,106,301 36,040,000 13,156 25,929,483 7,659,181 25,929,483 7,701,756 788,190 (919,153) 41,159,457 Produced by Albert Goodman LLP Page 45 The Dorset & Somerset Air Ambulance Charity Notes to the Financial Statements For the Year Ended 31 March 2024 19. Financial instruments Categorisation of financial instruments 2024 2023 Financial assets measured at fair value Ihrough income and expenditure account Financial assels thal are debt inslruments measured at amortised cosl 23,775,749 21,429,069 12,245,617 12,813,833 36,021.366 34,242,902 Financial liabilities measured at amortised cost 625,006 473,520 Item of income, expenditure, gain or losses Income Expense Net gains Nel losses 2024 Financial assets measured at fair value through income and expenditure account Financial assels that are debt instruments measured al amortised cost Financial liabilities measured at amortised cost 527,960 134,893 1,847,499 372,731 900,691 134,893 1,847,499 Income Expense Net galns Net losses 2023 Financial assets measured al fair value through income and expenditure account Financial assets that a￿ debt instruments measured at amortised cost Financial liabilities measured at amortised cost 459,024 130,085 1,512,932 221,444 680,468 130,085 1,512,932 Produced by Albert Goodman LLP Page 46 Th8 Dorsat & Somerset Alr Ambulance Charlty Notes to the Financial Statements For the Year Ended 31 March 2024 20. Financlal commStments At 31 March 2024 the charity was committed to making the following payments under non-cancellable operating leases: 2024 2023 Other Expiry date: Within one year Between tsvo and five years 3,025,554 12,853,691 732,461 876 15,879,245 733,337 21. Related partles There were no related party transactions during the year (2023.. none). 22. Post balance sheet events Since the year end, the charity has paid a deposit of £342,671 on an additional aircraft. This payment secures the price and the scheduling of manufacture by the aircraft manufacturer. Funds allowing, the charity intends to pay a further deposit required in December 2024 of É1,576,500, and the final payment ofÉ8,533,500 at Ihe end of 2025. The charity has incurred costs of £378,614 for cosls of design and manufaclure of medical Interior upgrade for its existing aircraft and intended second aircraft. Produced by Albert Goodman LLP Page 47