2021-03-31-accounts - Yorkshire Air Ambulance Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Officers and Professional Advisers
Chairman's Statement								4-7
Strategic Report and Trustees' Report								8-15
Structure, Governance and Management								16-18
Statement ofTrustees' and Directors'	Responsibilities		in respect ofthe Trustees'			Annual	Report	19
and the Financial Statements
Independent Auditor's Report to the	Members	ofYorkshire		Air Ambulance	Limited			20-22
Consolidated Statement of Financial Activities
(including Consolidated Income and Expenditure		Account)						23
Consolidated Balance Sheet								24
Company Balance Sheet								25
Consolidated Cashflow Statement								26
Notes forming part ofthe Financial Statements								27-44

The Board	ofTrustees	Peter Sunderland	Peter Sunderland	Peter Sunderland	DL
		Brian Chapman
		James Eastwood
		Mike Harrop
		Kevin Hynes
		Mark Jones (appointed			29June 2021)
		Vivian Lewis (resigned 30April 2021)
		Richard Marsh
		Sarah Moore (resigned			30June 2020)
		Dr Judith Parker
		John Samuel
		Amarjit Singh
Company Secretary		Irene Heap
Registered	Office	Cayley House
		10South Lane
		Elland
		HXS OHQ
Auditors		BHP LLP
		New Chartford		House
		Centurion Way
		Cleckheaton
		BD193QB
Bankers		Lloyds Bank pic
		6 Park Row
		Leeds
		LS11NX
		Virgin Money
		94Albion Street
		Leeds
		LS16AG
Solicitors		Wrigleys
		17-21Cookridge		Street,
		Leeds
		LS2 3AG
Investment	Managers	Brewin Dolphin
		10Wellington	Place
		Leeds
		LS14AN
		Redmayne Bentley
		9 Bond Court
		Leeds
		LS12JZ

					Unrestricted
				Restricted	and Designated
				Funds	Funds	2021	2020
			Note	E	E	E	6
Income From:
Donations					2,102,177	2,102,177	4,191,063
Legacies					6,867,394	6,867,394	3,189,481
Grants				72,220	320,652	392,872	346,908
Non-Charitable	Trading				314,029	314,029	297,211
Investment Income					331,582	331,582	281,216
Totallncome				72,220	9,935,834	10,008,054	8,305,879
Expenditure on:
Raising Funds					(1,516,738)	(1,516,738)	(1,763,725)
Charitable Activities					(3,678,448)	(3,678,448)	(3,284,484)
Total Expenditure					(5~195'186)	(5 195 186)	(5048 209)
Net Gains/(Losses)		on Investments	12		3,545,321	3,545,321	(1,210,308)
Other (Losses)/	Gains		8		(10,014)	(10,014)	5,740
Net Income				72,220	8,275,955	8,348,175	2,053,102
Taxation					5,888	5,888
Transfers between		Funds		(96,042)	96,042
Net Movement	in Funds			(23,822)	8,377,885	8,354,063	2,053,102
Reconciliation ofFunds:
Total Funds b/f	at 1April			106,695	31,169,282	31,275,977	29,222,875
Total Funds c/f	at 31March		17	82,873	39p547p167	39p630p040	31275~977

			Year E	nded 31March 20
Consolidated Cashflow Statement
Forthe year ended 31March 2021
			2021	2020
		Note	f	f
Cash Flows from Operating Activities:
Net Cash provided by Operating Activities		22	2,869,513	4,007,038
Cash Flows from Investing Activities:
Dividends and Interest from Investments			404	6,742
Purchase of Investments			(388,537)	(218,640)
Disposal of Property, Plant and Equipment			85,741	6,070
Sale/(purchase) ofInvestments			71,547	(7,698,955)
Net Cash used in Investing Activities			(230,845)	(7,904,783)
Change in Cash and Cash Equivalents	in the Reporting		2,638,668	(3,897,745)
Period
Cash and Cash Equivalents at 1April			3,234,617	7,132,362
Cash and Cash Equivalents at31March			5,873,285	3,234p617

Freehold	buildings	buildings			Written	offover 10to50years on a straight-line basis
Freehold	land				Nil depreciation
Leasehold		property	improvements		Written	offover 10to 30years on a straight-line basis
Helicopters		texcluding		engines)	Written	offover 10years to an estimated residual value	on a
					straight	line basis
Engines					No depreciation charged as a Service by the Hour cost		which covers
					maintenance, overhaul and replacement of engines is expensed			on a
					monthly	basis. This cost replaces an engine depreciation	charge.
Computer		equipment			Written	offover 3to 10years on a straight-line basis
Fixtures and fittings					Written	offover 3to 10years on a straight-line basis

				2021	2020
				6	6
Donations				2,012,409	4,022,114
Donations	in kind:
Arco				10,000	10,000
8 graun Sheffield				50,000	50,000
DM Keith				7,260	2,505
Heavenly	Group			0	15,000
Outdoor	Ocean Media			0	70,000
Red Route		(formerly	CDP Design)	17,000	7,000
Skopes				0	5,000
Other				5,508	9,444
Subtotal - Donations			in Kind	89,768	168,949
				2,102,177	4,191,063

					2021	2020
					6	6
Receipts	from	Grant	Making	Trusts	392,872	346,908

4. Non-Cha	ritable Trading
		2021	2020
		6	f
Lottery Ticket Sales		132,548	140,056
Sales ofMerchandise		75,830	24,229
Sponsorship	and Income from Sale of Logos	105,651	132,926
		314,029	297,211

Fund raising activities
	2021	2021	2021	2021	2020
	Staff Costs	Depreoation	Other Costs	Total	Total
	E	E	E	E	E
Staff Costs	721,291			721,291	678,909
Depreciation		6,113		6,113
Event Costs			4,903	4,903	72,814
Travel and Subsistence			69,372	69,372	103,409
Telephone			8,842	8,842	9,017
Merchandise			41,964	41,964	146,917
Printing, Postage and Stationery			9,758	9,758	5,895
Marketing and Advertising			165,815	165,815	267,148
Lottery Costs			30,027	30,027	28,048
Other Fund raising Costs			27,475	27,475	24,128
Allocated Support Costs (see note 6)	232,538	22,723	175,917	431,178	427,440
	953,829	28,836	534,073	1,516,738	1,763,725

		2021	2021	2021	2021	2020
		Staff Costs	Depreciation	Other Costs	Total	Total
		E	E	E	E	E
Charitable	activities
Air Support Unit Costs				209,961	209,961	185,667
Helicopter	Running Costs			1,277,336	1,277,336	1,337,963
Depreciation			1,157,341		1,157,341	812,201
Staff Costs		796,743			796,743	735,884
Auditor's	Remuneration			13,720	13,720	13,500
Legal and	Professional			1,110	1,110	3,283
Travel and	Subsistence			10,495	10,495	25,002
Other Charitable Expenditure				42,955	42.955	13,921
Allocated	Support Costs (see note 6)	91,028	8,895	68,864	168,787	157,063
		887,771	1,166,236	1,624,441	3,678,448	3,284,484
Total Expenditure		1,841,600	1,195,072	2,158,514	5,195,186	5,048,209

5. Analysis ofExpenditur	e (continued)
							2021	2020
							f	f
The netincome for the yearis stated after		charging:
Operating Lease Costs	Land and Buildings						39,375	37,500
	Other						44,327	43,897
Fees paid to Auditor —Audit fees							13,720	13,500
Fees paid to Auditor —Taxation							1,330	650
Loss on Disposal of Fixed	Assets							6,252
6. Support Costs
		2021		2021		2021	2021	2020
	Staff Costs f			Depreciation f	Other	Costs f	Totalf	Total f
Support Staff Costs	323,566						323,566	298,083
Depreciation				31,618			31,618	35,145
Printing, Postage 8Stationery						9,077	9,077	11,395
IT					102,373		102,373	96,678
Professional/Legal					70,601		70,601	59,725
Other Support Costs					62,730		62,730	83,477
	323,566			31,618	244,781		599,965	584,503
Allocated as follows:
Charitable Activities	91,028			8,895	68,864		168,787	157,063
Fundraising and Publicity	232,538			22,723	175,917		431,178	427,440
Total governance costs in the year amounted			to E22 101I2020-f22,134).
7. Staff Costs
							2021f	2020 f
Wages and Salaries							1,459,207	1,412,803
Social Security Costs							155,347	138,407
Pension Costs							95,018	59,800
Other Staff Related Costs							132,028	101,866
							1,841,600	1,712,876

The average monthly number ofstaff employed by	the group during the financial year amounted t	o:
	2021	2020
Fundraising	16	16
Operational	9	8
Administrative	13	14
	38	38

								2021	2020
								f	f
Foreign	currency	(loss)	/gain	made	on	forward	contracts	(10,014)	5,740

					Plant,
	Freehold	Leasehold			Equipment
	Land and	Property	Helicopters	Computer	Fixtures &
	Buildings	Improvements	&Engines	Equipment	Fittings
					&Vehicles	Total
						E
Cost
At 1April 2020	399,388	1,417,622	12,876,117	582,628	614,181	15,889,936
Additions		134,041		85,479	169,018	388,538
Disposals			(85,741)			(85,741)
At 31March 2021	399,388	1,551,663	12,790,376	668,107	783,199	16,192,733
Depreciation
At 1April 2020	136,703	336,591	2,238,514	344,222	303,051	3,359,081
Charge for the Year	14,312	53,677	1,006,902	67,985	52,196	1,195,072
Eliminated on disposal
At 31March 2021	151,015	390,268	3,245,416	412,207	355,247	4,554,153
Net Book Va/ue
At 31March 2021	248,373	1,161,395	9,544,960	255,899	427,952	11,638,579
At 31March 2020	262,685	1,081,031	10,637,603	238,405	311,130	12,530,854

12. Fixed	asset i	nvestm	ents
					Total	Total
					2021	2020
					f	f
Consolidated
At 1April					14,805,986	8,042,865
Additions	at Cost				6,770,120	6,089,157
Disposals	at Carrying Value				(3,150,857)	(1,135,701)
Income Received		During the Year			331,178	274,474
Unrealised	Gain/(Loss)		on Investments		3,545,321	(1,210,308)
Change in Value ofCash Held in Portfolio					(3,690,811)	2,745,499
At 31March					18,610,937	14,805,986
					Total	Total
					2021	2020
					f	f
Company
At 1April					14,830,989	8,067,868
Additions	at Cost				6,770,120	6,089,157
Disposals	at Carrying Value				(3,150,857)	(1,135,701)
Income Received		During the Year			331,178	274,474
Unrealised	(Loss)/Gain		on Investments		3,545,321	(1,210,308)
Change in	Value ofCash held in Portfolio				(3,690,811)	2,745,499
At 31March					18,635,940	14,830,989
The analysis ofinvestments held is:
					Total	Total
					2021	2020
					f	f
Analysis of Investments			Measured	at Fair Value —Consolidated
UK Bonds					1,853,197	2,291,973
Overseas	Bonds				1,637,844	89,198
UK Equities					3,869,512	3,048,290
Overseas	Equities				7,997,718	4,437,258
Absolute	Return				2,089,790	702,769
Property	Funds				63,899	164,155
Other Investments					951,178	566,660
Cash					147,799	3,505,683
Tota I					18,610,937	14,805,986

12.Fixed Asset Investme		nts	(conti	nu	ed)
														Total		Total
														2021		2020
														f		f
Analysis ofInvestments		Measured		at Fair Value			—Company
UK Bonds														1,853,197		2,291,973
Overseas Bonds														1,637,844		89,198
UK Equities														3,869,512		3,048,290
Overseas Equities														7,997,718		4,437,258
Absolute Return														2,089,790		702,769
Property Funds														63,899		164,155
Other Investments														951,178		566,660
Cash														147,799		3,505,683
Sub —Total Investments	Measured			at	Fair Value									18,610,937	14,805,986
UK Subsidiaries Measured		at Cost												25,003		25,003
Total														18,635,940	14,830,989
The investments noted above are				managed		on	a portfolio			basis by our appointed				investment managers. The
Trustees have agreed performance				benchmarks			with		the investment			managers	and	review the performance o
the investment portfolios		against those benchmarks							on a quarterly			basis. The	benchmarks used are the MSC
WMA Balanced and the		MSCI WMA			Conservative			measurements,				but the Trustees		also review	performance
against the FTSE100and		FTSE All Share indices.					The		Trustees	have not imposed			any	restrictions or	guidelines in
respect of social, ethical		or	environmental			considerations				on	the	investment	managers. Income			and capital
gains/(losses) are therefore			reviewed		and attributed				on a portfolio basis.
The details of the company's			non-charitable			trading			subsidiary		undertakings,		both	of which are	registered in
England and Wales are as follows:-
Subsidiary				Shares Held							Percentage		Principal Activity
											Holding
Yorkshire Air Ambulance				2 Ordinary		f1Shares					100%%uo		Promotion ofa weekly
(Trading) Limited													lottery to generate			funds
(Co No 04053514)
Yorkshire Air Ambulance				1Ordinary		E1Share					100o/		Dormant
Services Limited
(Co No 05414029)

			Yorkshire Air	Yorkshire	Air
			Ambulance	Ambulance
			(Trading)	Services		Total		Total
			Limited	Limited		2021		2020
			f		f	f		f
Turnover			132,548			132,548		140,056
Cost ofSales			(22,952)			(22,952)		(21,564)
Gross Profit			109,596			109,596		118,492
Administrative	Expenses		(20,106)			(20,106)		(19,202)
Profit for the	Financial Year		89,490			89,490		99,290
Tax credit			5,888			5,888
Profit for the	Year		95,378			95,378		99,290
Assets			118,927			118,928		119,547
Liabilities			(118,891)			(118,891)		(20,220)
Shareholder's	Funds		36			37		99,327
13.Stock (Consolidated		and	Company)
							Total	Total
							2021	2020
							f	f
Fuel							15,173	18,533
Tata I							15,173	18,533

			Consolidated	Consolidated		Company
			2021	2020	2021	2020
			6		E	f
Trade Debtors			72,684	59,865	72,684	59,865
Amounts	Owed by Group Undertakings				105,155	693
Other Debtors			13		13
Prepayments		and Accrued Income	3,970,161	1,121,937	3,970,161	1,121,937
Taxation	and Social Security		28,820	44,480	28,820	44,480
			4,071,678	1,226,282	4,176,833	1,226,975

				Consolidated	Consolidated		Company
				2021	2020	2021	2020
				6	6	f	E
Trade Creditors				81,907	135,004	81,907	135,004
Other Creditors				18,863	14,140	18,863	14,140
Taxation	and Social Security Costs			41,019	49,751	41,019	49,751
Accruals	and Deferred		Income	437,823	341,400	424,087	321,874
				579,612	540,295	565,876	520,769
Included	within	accruals and deferred		income above is deferred	sponsorship	and lottery income as follow
						Group f	Company f
At 1April	2020					69,132	59,483
Released	from	Previous	Years			(69,132)	(59,483)
Deferred	in the	Year				110,163	99,269
At 31March 2021						110,163	99,269

				Land and	Buildings		Other
				2021	2020	2021	2020
				f	f	f
Operating		Leases Payments	Due:
Less than		One Year		45,000	37,500	50,821	149,539
Within	2	to 5Years		206,875	81,250	50,983	45,059
Greater	than 5years			74,375
				326,250	118,750	101,804	194,598

17.Movement	17.Movement	17.Movement	Funds	Funds
Consolidated
							Gains and
							Losses on	Transfers	Balance ot
				Balances at			investments/	Between	31March
			1*'April 2020 f		Income f	Expenditure f	Taxation f	Funds f	2021 f
Unrestricted		funds		19,676,729	9,935,834	(5,195,186)	3,541,195	(7,903,958)	20,054,614
Designated		funds:
Helicopter	Replacement			7,000,000				8,000,000	15,000,000
Reserve
Helicopter				547,560					547,560
Maintenance		Fund
Property	Development			3,944,993					3,944,993
Funds
Designated		Funds		11,492,553				8,000,000	19,492,553
Restricted	Funds			106,695	72,220			(96,042)	82,873
Total Funds				31,275,977	10,008,054	(5,195,186)	3,541,195		39,630,040
Company
							Gains and
							Losses on	Transfers	Balance at
				Balances at			Investments/	Between	31March
			1stApril 2020 f		Income f	Expenditure f	Toxation f	Funds f	2021 f
Unrestricted				19,602,405	10,068,382	(5,232,356)	3,545,144	(7,903,958)	20,079,617
Funds
Designated				11,492,553				8,000,000	19,492,553
Funds
Restricted				106,695	72,220			(96,042)	82,873
Funds
Total Funds				31,201,953	10,140,602	(5,232,356)	3,545,144		39,655,043

			Tangible	Fixed		Other Net
				Assetsf	Investments f	Assets f	Total E
Unrestricted		Funds	11,638,579		(334,056)	8,750,091	20,054,614
Designated		Funds			18,944,993	547,560	19,492,553
Restricted	Funds					82,873	82,873
			11,638,579		18,610,937	9,380,524	39,630,040

Financial Assets	at Fair Va	lue Through Profit or Loss:	Total 2021 f	Total 2020 f
Investments			18,610,937	14,805,986
Forward Foreign	Currency	Contracts	903,141

22.Reconciliation	ofNet Move	ment in Fu	nds to Net Cash Flow fr	om Operating Activities
				2021	2020
				f	f
Group
Net Movement in Funds for the		Reporting	Period	8,354,063	2,053,102
Adjustments for:
Depreciation				1,195,072	841,303
Dividends, Interest	and Rents from Investments			(331,582)	(281,216)
(Gain) /Loss on Investments				(3,545,321)	1,210,308
Loss on disposal offixed assets					6,252
Decrease / (Increase) in Stocks				3,360	(5,592)
(Increase)/Decrease	in Debtors			(2,845,396)	187,372
Increase/(Decrease)	in Creditors			39,317	(4,491)
Net Cash Provided	by Operating	Activities		2,869,513	4,007,038