2022-03-31-accounts - Yorkshire Air Ambulance Limited

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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								2S
Consolidated Cashflow Statement
Notes forming part ofthe Financial Statements								27-44

The Board	ofTrustees	Peter Sunderland	Peter Sunderland	MBE,	DL
		Brian Chapman
		James Eastwood
		Mike Harrop
		Kevin Hynes
		Mark Jones (appointed			29June 2021)
		Vivian Lewis (resigned 30April				2021)
		Richard Marsh
		Dr Judith Parker
		John Samuel (resigned 25 February 2022)
		Amarjit Singh
		Paul Skelton (appointed			26 April 2022)
Company	Secretary	Irene Heap (resigned 6July 2022)
		Heather Goodwill		(appointed		22 March 2022)
Registered	Office	Cayley House
		10South Lane
		Elland
		HXS OHQ
Auditors		BHP LLP
		New Charfford	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
			Note	Fundsf	Fundsf	2022f	2021f
Income From:
Donations					3,726,033	3,726,033	2,102,177
Legacies					4,041,915	4,041,915	6,867,394
Grants			3	39,880	145,702	185,582	392,872
Non-Charitable	Trading		4		331,691	331,691	314,029
Investment Income					355,627	355,627	331,582
Total Income				39,880	8,600,968	8,640,848	10,008,054
Expenditure on:
Raising Funds					(1,674,471)	(1,674,471)	(1516,738)
Charitable Activities					(4,220,892)	(4,220,892)	(3,678,448)
Total Expenditure					(5,895,363)	(5,895,363)	(5,195,186)
Net Gains/(Losses)		on Investments	12		389,164	389,164	3,545,321
Other (Losses)/	Gains		8		10,014	10,014	(10,014)
Net Income				39,880	3g104~783	3~144~663	8~348p175
Taxation							5,888
Transfers between		Funds		(31,000)	31,000
Net Movement	in Funds			8,880	3,135,783	3,144,663	8,354,063
Reconciliation	ofFunds:
Total Funds b/f at1April				82,873	39,547,167	39,630,040	31,275,977
Total Funds c/f	at31March		17	91,753	42,682,950	42,774,703	39,630,040

				Yorkshire	Air Ambulance Limited
				Directors' Report and Financial Statements
				Year	Ended 31March 2022
Consolidated Cashf	low Statement
Forthe year ended 31March 2022
				2022	2021
			Note	E	E
Cash Flows from Operating	Activities:
Net Cash provided by Operating Activities			21	(677,802)	2,869,513
Cash Flows from Investing	Activities:
Dividends and Interest from Investments				357	404
Purchase of Fixed Assets				(173,286)	(388,537)
Disposal ofProperty, Plant	and Equipment				85,741
Sale/(purchase) ofInvestments				62,053	71,547
Net Cash used in Investing	Activities			(110,876)	(230,845)
Change in Cash and Cash Equivalents		in the Reporting		(788,678)	2,638,668
Period
Cash and Cash Equivalents	at 1April			5,873,285	3,234,617
Cash and Cash Equivalents	at 31March			5,084,607	5,873,285

economic	life ofthat	life ofthat	asset as follows:	—
Freehold	buildings			Written	offover 10to 50years on a straight-line basis
Freehold	land			Nil depreciation
Leasehold		property	improvements	Written	offover 10to30years on a straight-line basis
Helicopters		(excluding engines)		Written	off over 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 ofengines is expensed			on a
				monthly	basis. This cost replaces an engine depreciation	charge.
Computer		equipment		Written	off over 3to 10years on a straight-line basis
Fixtures and fittings				Written	off over 3to 10years on a straight-line basis

			2022	2021
			6	E
Donations			3,662,342	2,012,409
Donations	in kind:
Arco			5,000	10,000
BBraun Sheffield			30,000	50,000
DM Keith			8,470	7,260
Red Route			7,833	17,000
Other			12,388	5,508
Subtotal - Donations		in Kind	63,691	89,768
			3,726,033	2,102,177

					2022	2021
					6	E
Receipts	from	Grant	Making	Trusts	185,582	392,872

4. Non-Cha	ritable Trading
		2022	2021
		E	6
Lottery Ticket Sales		133,111	132,548
Sales ofMerchandise		36,597	75,830
Sponsorship	and Income from Sale of Logos	161,983	105,651
		331,691	314,029

5. Analysis ofExpenditure	5. Analysis ofExpenditure
Fundraising activities
		2022	2022		2022	2022	2021
		Staff Costsf	Depreciation	E	Other Costs E	Total E	Total E
Staff Costs		720,570				720,570	721,291
Depreciation			26,794			26,794	6,113
Event Costs					22,568	22,568	4,903
Travel and Subsistence					99,596	99,596	69,372
Telephone					8,971	8,971	8,842
Merchandise					85,503	85,503	41,964
Printing, Postage and Stationery					7,630	7,630	9,758
Marketing and Advertising					151,710	151,710	165,815
Lottery Costs					32,693	32,693	30,027
Other Fundraising	Costs				28,809	28,809	27,475
Allocated Support	Costs (see note 6)	246,101	23,395		220,131	489,627	431,178
		966,671	50,189		657,611	1,674,471	1,516,738
All expenditure on	raising funds relates wholly to		unrestricted	funds	in both 2022	and 2021.
		2022	2022		2022	2022	2021
		Staff Costs E	Depreciation	f	Other Costs f	Total E	Total E
Charitable activities
Air Support Unit Costs					193,401	193,401	209,961
Helicopter Running	Costs				1,584,894	1,584,894	1,277,336
Depreciation			1,218,449			1,218,449	1,157,341
Staff Costs		949,091				949,091	796,743
Auditor's Remuneration					18,465	18,465	13,720
Legal and Professional					138	138	1,110
Travel and Subsistence					22,547	22,547	10,495
Other Charitable Expenditure					32,754	32,754	42,955
Allocated Support	Costs (see note 6)	101,106	9,611		90,436	201,153	168,787
		1,050,197	1,228,060		1,942,635	4,220,892	3,678,448
Total Expenditure		2,016,868	1,278,249		2,600,246	5,895,363	5,195,186

5. Analysis ofExpenditur	e (continued)
							2022	2021
							E	E
The net income for the year isstated after		charging:
Operating Lease Costs	Land and Buildings						45,000	39,375
	Other						44,690	44,327
Fees paid to Auditor —Audit fees							18,465	13,720
Fees paid to Auditor- Taxation							1,330	1,330
6. Support Costs
		2022		2022		2022	2022	2021
	Staff	Costs		Depreciation	Other	Costs	Total	Total
			4	s		6	s	s
Support Staff Costs	347,207						347,207	323,566
Depreciation				33,006			33,006	31,618
Printing, Postage Ik Stationery					7,468		7,468	9,077
IT					128,001		128,001	102,373
Professional/Legal					79,365		79,365	70,601
Other Support Costs					95,733		95,733	62,730
	347,207			33,006	310,567		690,780	599,965
Allocated as follows:
Charitable Activities	101,106			9,611	90,436		201,153	168,787
Fundraising and Publicity	246,101			23,395	220,131		489,627	431,178
Total governance costs in the year amounted			to E27,834(2021-		E22,101).
7. Staff Costs
							2022	2021
							E	E
Wages and Salaries							1,488,436	1,459,207
Social Security Costs							157,004	155,347
Pension Costs							113,621	95,018
Other Staff Related Costs							257,807	132,028
							2,016,868	1,841,600

	2022	2021
Fun draising	15	16
Operational	9	9
Administrative	14	13
	38	38

8. Oth	er gains a	nd los	ses
								2022	2021
								E	E
Foreign	currency	(loss)	/gain	made	on	forward	contracts	10,014	(10,014)

						Plant,
		Freehold	Leasehold			Equipment
		Land and	Property	Helicopters	Computer	Fixtures &
		Buildings	Improvements	&Engines	Equipment	Fittings
						&Vehicles	Total
			f	E	E	f	f
Cost
At 1April	2021	399,388	1,551,663	12,790,376	668,107	783,199	16,192,733
Additions			41,844		67,427	64,014	173,285
Disposals
At 31March 2022		399,388	1,593,507	12,790,376	735,534	847,213	16,366,018
Oepreciotion
At 1April	2021	151,015	390,268	3,245,416	412,207	355,247	4,554,153
Charge forthe Year		13,882	58,514	1,048,329	78,723	78,801	1,278,249
Eliminated	on disposal
At 31March 2022		164,897	448,782	4,293,745	490,930	434,048	5,832,402
Net Book	Vo/ue
At 31March 2022		234,491	1,144,726	8,496,631	244,603	413,165	10,533,615
At 31March 2021		248,373	1,161,395	9,544,960	255,899	427,952	11,638,579

12. Fixed	asset in	vest	m	ents
						Total	Total
						2022	2021
						E	E
Consolidated
At 1April						18,610,937	14,805,986
Additions	at Cost					3,046,847	6,770,120
Disposals	at Carrying		Value			(2,976,513)	(3,150,857)
Income Received		During the Year				355,271	331,178
Unrealised	Gain/(Loss)			on Investments		389,164	3,545,321
Change in Value ofCash Held in Portfolio						(132,387)	(3,690,811)
At 31March						19,293,319	18,610,937
						Total	Total
						2022	2021
						E	f
Company
At 1April						18,635,940	14,830,989
Additions	at Cost					3,046,847	6,770,120
Disposals	at Carrying Value					(2,976,513)	(3,150,857)
Income Received		During the Year				355,271	331,178
Unrealised	(Loss)/Gain			on Investments		389,164	3,545,321
Change in Value of Cash held in Portfolio						(132,387)	(3,690,811)
At31March						19,318,322	18,635,940
The analysis ofinvestments held is:
						Total	Total
						2022	2021
						E	E
Analysis ofInvestments				Measured	at Fair Value —Consolidated
UK Bonds						1,598,066	1,853,197
Overseas	Bonds					1,890,653	1,637,844
UK Equities						3,652,048	3,869,512
Overseas	Equities					7,676,562	7,997,718
Absolute	Return					2,478,159	2,089,790
Property Funds						67,197	63,899
Other Investments						1,564,404	951,178
Cash						366,230	147,799
Total						19,293,319	18,610,937

12.Fixed	Asset	Investm	ents (conti	nued)
					Total	Total
					2022	2021
					6
Analysis ofInvestments			Measured	at Fair Value- Company
UK Bonds					1,598,066	1,853,197
Overseas	Bonds				1,890,653	1,637,844
UK Equities					3,652,048	3,869,512
Overseas	Equities				7,676,562	7,997,718
Absolute	Return				2,478,159	2,089,790
Property	Funds				67,197	63,899
Other Investments					1,564,404	951,178
Cash					366,230	147,799
Sub —Total Investments			Measured	at Fair Value	19,293,319	18,610,937
UK Subsidiaries		Measured at Cost			25,003	25,003
Total					19,318,322	18,635,940

Subsidiary	Shares Held	Shares Held	Percentage	Principal Activity	Principal Activity
			Holding
Yorkshire Air Ambulance	2 Ordinary	E1Shares	100Yo	Promotion	ofa weekly
(Trading) Limited				lottery to	generate funds
(Co No 04053514)
Yorkshire Air Ambulance	1Ordinary	E1Share	10096	Dormant
Services Limited
(Co No 05414029)

			Yorkshire Air	Yorkshire Air
			Ambulance	Ambulance
			(Trading)	Services	Total		Total
			Limitedf	Umited f	2022 f		2021 f
Turnover			133,111		133,111		132,548
Cost ofSales			(24,168)		(24,168)		(22,952)
Gross Profit			108,943		108,943		109,596
Administrative	Expenses		(22,297)		(22,297)		(20,106)
Profit for the	Financial Year		86,646		86,646		89,490
Tax credit							5,888
Profit for the	Year		86,646		86,646		95,378
Assets			119,566	1	119,567		118,928
Liabilities			(119,530)		(119,530)		(118,891)
Shareholder's	Funds		36				37
13.Stock (Consolidated		and	Company)
						Total	Total
						2022	2021
						f	f
Fuel						22,159	15,173
Total						22,159	15,173

			Consolidated	Consolidated		Company
			2022	2021	2022	2021
			6	6	6	6
Trade Debtors			40,833	72,684	40,833	72,684
Amounts	Owed by Group Undertakings				106,037	105,155
Other Debtors				13		13
Prepayments		and Accrued Income	8,403,151	3,970,161	8,403,151	3,970,161
Taxation	and Social Security		45,641	28,820	45,641	28,820
			8,489,625	4,071,678	8,595,662	4,176,833

15.Creditors: Amounts	Falling Due Within	One Year	One Year
		Consolidated			Company
		2022	2021	2022	2021
		6	f	6	f
Trade Creditors		284,973	81,907	284,973	81,907
Other Creditors		20,379	18,863	20,379	18,863
Taxation and Social Security Costs		38,815	41,019	38,815	41,019
Accruals and Deferred	Income	304,455	437,823	290,961	424,087
		648,622	579,612	635128	565876

		Group f	Company E
At 1April	2021	110,163	99,269
Released	from Previous Years	(110,163)	(99,269)
Deferred	in the Year	78,987	69,554
At31March 2022		78,987	69,554

				Land and	Buildings		Other
				2022	2021	2022	2021
				f	f	f	f
Operating		Leases Payments	Due:
Less than		One Year		45,000	45,000	47,019	50,821
Within	2	to 5Years		206,875	206,875	35,129	50,983
Greater	than 5years			74,375	74,375
				326,250	326,250	82,148	101,804

							Gains and
							Losses on	Transfers	Balance at
			Balances at				Investments/	Between	31March
		1nApril 2021 f		incomef	Expenditure	f	Taxation f	Funds f	2022 f
Unrestricted		funds	20,054,614	8,600,968	(5,829,470)		399,178	31,000	23,256,290
Designated	funds:
Helicopter	Replacement		15,000,000						15,000,000
Reserve
Helicopter			547,560		(65,893)				481,667
Maintenance		Fund
Property Development			3,944,993						3,944,993
Funds
Designated		Funds	19,492,553		(65,893)				19,426,660
Restricted	Funds		82,873	39,880				(31,000)	91,753
Total Funds			39,630,040	8,640,848	(5,895,363)		399,178		42,774,703
Compeny
							Gains and
							Losses on	Transfers	Balance at
			Balances at				Investments/	Between	31March
		1stApril 2021 f		Income f	Expenditure	f	Taxatron f	Funds f	2022 f
Unrestricted			20,079,617	8,600,968	(5,829,470)		399,178	31,000	23,281,293
Funds
Designated			19,492,553		(65,893)				19,426,660
Funds
Restricted			82,873	39,880				(31,000)	91,753
Funds
Total Funds			39,655,043	8,640,848	(5,895,363)		399,178		42,799,706

			Tangible	Fixed		Other Net
				Assets	Investments	Assets	Total
				6	6	6	6
Unrestricted		Funds	10,533,615		348,326	12,374,349	23,256,290
Designated		Funds			18,944,993	481,667	19,426,660
Restricted	Funds					91,753	91,753
			10,533,615		19,293,319	12,947,769	42,774,703

Financial	Assets	at Fair Value Through	Total	Total
			2022	2021
			6	f
Investments			19,293,319	18,610,937
Forward	Foreign	Currency Contracts		903,141

21.Reconciliation	of Net Move	ment in Funds to Net Cash Flow fro	m Operating Activities
			2022	2021
			6	E
Group
Net Movement in	Funds for the	Reporting Period	3,144,663	8,354,063
Adjustments for:
Depreciation			1,278,249	1,195,072
Dividends, Interest	and Rents from Investments		(355,627)	(331,582)
(Gain) /Loss on Investments			(389,164)	(3,545,321)
Decrease / (Increase) in Stocks			(6,986)	3,360
(Increase)/Decrease	in Debtors		(4,417,947)	(2,845,396)
Increase/(Decrease)	in Creditors		69,010	39,317
Net Cash Provided	by Operating	Activities	(677802)	2p869~513