2024-12-31-accounts

The AirAmbulance Service (Acompanylirnited byguarantee) 11111 AE50BEM8 1WW2025 COMPANIES HOUSE fRU*ÉÉS9 t2ÉGt)fflr 2Jfft]D FUfjlJ]Itftl]GOlL SfLlfEtMÉfft]T8 2024

FOR THE YEAR ENDED37 DECEMBER 2024 CONTENTS Chairman's Statement Chief Executive's Statement Our Vision, Mission and Values 11 Trustee's Annual Report 12-21 Independent Auditor's report to the members 22-25 Consolidated Statement of Financial Activities 26 Consolidated Balance Sheet 27 Charitable Company Balance Sheet 28 Consolidated Statement of Cash Flow 29 Notes to the Financial Statements 30-46

FOR THE YEAR ENDED 31 DECEMBER2024 CHAIRMAN'S STATEMENT- PROFESSOR BOB ALLISON As Chalr. l am delTghted to refiect on a remarkable year of progress. underpinned by an unwavering commitmont to our mission. In an increasingly complex and Challenging environment. our organisation has demonstrated the utmost capabTlity. fortitude. and vision. We are not simply meeting the needs of today but shèping the future of airarnbulance critical care. This is made possible through the tireless dedlcatlon of our staff. volunteers and supporters, who remaln at the heart of everything we do. Whatever your contributton to our enrjeavour, you ensure that we continue to provide the highest standards ol care. Tnnovation, and serviceto those whodepend upon us in time5 of urgent need. Throughout 2024. our operational teams have reached new heights.bothlnthescaleoftheirworkandinpioneering newdevelopments.Wehaveattènded more requests for help than ever before. We have enhanced ourcèpabilities with cutting*dge medical technology. Ourclinical and aviationteams have embodled exeellence eyerytime they havo been tssked and sent on a mission. These are not mere statistlcs but represent more lives saved, more families SUPF)Orted and more Cornmunities strengthened. Our financièl sustainability remains a key priority. Our Trading dtvlsion has seen significant improvements in gfficiency and strategic growth. The 7ndustry recognltion we have recelved 15 a testament to the outstanding work undertaken in this area. ensuring that every pound raised is maximised to benelit our charitable aims. Similarly, our fundrais?ng and supporter engagement teams continue to innovate. deepenln9 the partnership with everyone that supports what we do. At the heart of our S￿￿eSS lies our people. Their dedlcatton. skllls and ccmpassioA drive us forward. In return, we are commTtt&d to supporting their professlonal development and wall- being. Ourfocus on equality, diveTSltyènd inclusion isatthe heart ofour organisatlonalctslture. We want everyone to thrlve and be able to contribute to their full potential. Governance and stewardshTP remain critical to ourlong-termsucces& This year. wehavetaken furtherstrldes In enhanclng our Internal controls. refi.ning our risk management Pfocesses, strengthening our quality assurance rnechanlsms. The Board of Trustees has worked hard to provide governance oversight. ensuring that our organi5ation remains robust. accountable. and forward-thinking in all that we dth l am personally gratefvl to all of tho Trustoes for their $upport and enthusiasm. We can look ahead WTth confidence. Ourstrategic arnbition is clear {plea58 vlsit our wgbsite to learn more), our Values rernain atthe heart of how we operate, and our arnbition is as strong as ever. On behalf of the Board ot Trustees, l extend my heartfelt thanks to Peta Wilkinson, our Chlof Executive, our staff, our volunteers and our generous supporter& It is through your collective efforts that we are able to achieve so much. It 1$ with deep gratitude that l acknowledge the vital role that every individual plays in our shared success. Together. we will ensure that our organisation continues to be a beacon of excellence, hope and service for years to come. Professor Bob Allison CBE DL Chair of Trustees The Alr Ambulance Service l A cornpany limited byguarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 CHIEF EXECUTIVEE REPORT- PETA WILKINSON l am delighted to be sharing the output ofthe fiT5tyear of our three year organisational strategy and am staggered by what OUT organisation has managed to achieve despite the very difficult enwronment in which we are operat1ng. This isall due to the unstinting commitrnent. skills and talent5 of all of our staff an¢J Volunteer teams. I remain extremely proLtd to work alongslde such inspiring people. In 2024 our HEMS Grews flew for 653 hours and drove 57.112 mlles completing 3.719 missions. Our TCKq crews completed 200 rni55ions In total (the highest in their history) and they flew 608 houT5. They a150 achieved the highest number of incubator transfer5 since inception in 2022. Our Trading divislon achleved Industry recognitlon for Its retail 5tores.irnprovedit50perational efficiencyand improved Cost management. They also irnproved the wa￿hOuse and distribution process and created a store expanslon strategy. In 2024 the'happiness factor. of our supporters vdas 95% whiGh Isamazing and a testament to the hard work and commitment of ourfundraising and supporter experience teèms. Wewe externally recognlsed for our legacy work and were Innovative in creating digital and other platforms for engagement. 2024 saw a growth in our volunteerlng contrtbution$ of 12% and moved to staff to volunteer ratlo to l:3. We launched o new volunteer strategy and dellvered 'key to succes¥ training to support effective volunteer management 2024 saw us become a proact0￿ organlsation in relation to Equallty. Dlvers1ty and Incluslon belng at the heart of everything we do. We adopted the Employer Six Pillar standard and delivered a full calendar of events. Wedesigned and implemerteda structurefitforpurposetodeliverouifuturestratagy. develop a cultural framework of behaviours and developed a line managers expectations document to support people in delivering their Tole. WehaveincreasedoursystemsoflnternalcontrolandgovernancethroughotJrRi5kManagement Strategy, to Include a 8oard Assurance Framework and Corporate Rlsk Register aligned with our operational rlsk reglster& TheGovernancestructure has been strengthened byintroducing robust reporting mechanisms to provide inGrea5ed assuranGes to sub-committees and the Board. Achievementln 2024 Our many achievements ot2024 include: Operations Ist year of ext8nded flyiry hours forTCAA First all female HEMS crew TCAA 400th mTssion with parents TCAA I,OOOth mission Nomlnated In four award categorles forthe AAUK awards Developing ￿latIonShipS %*ith NHS C￿nICal Teams and Ambulance services to increase the numberof peoplewe can support The Air Ambulance SerwGe l A company Ilmited by guarantee

FOR THE VEAR ENDED 310ECEM8ER 2024 CHIEF EXECUTIVE'S REPORT- PETA WILKINSON (CONTINUED) Operations (¢ontinued) Research, procurement and operational depl¢)yment of a new cutting-edge patient monitor that allows additional interventions such as invasive blood pressure monitoring Research and analysis completed to upgradeourautomated CPR machTnes New patiènt an¢ operational data base TAAS Portal,, Including electronic patient record Gold Standard Clinical Surgical Skills T¥aTning delivered across the region Development of three specialist incubators (the only ones in England) which wgre fully utilised in 2024 Phase 2 development of the insi¢Ye of the TCAA hellcopter to Oetter meet the needs of NHS clinicians and patient3 Pèrtlclpated In STgnilicant levels ot research èround clinical $kllls and the patlent experience Fundralslng Funraisin goes live-our brand new web4ite platforrn for events 81.182 young people were educated on our wor*in schcK)Is talks 165 schools fundraised for us (the most ever) Highest level of legacy pledges 8est year for legacy notifications 297 recelved Won the Smee and Ford - 'Intomal Collaboration ChampTon$' legacy fundraising award Best performance ever for a Christmas Raffle- we raised £583.066 Launched new Chrlstrnas vldeo CRM road mapping compl8ted and partner secured for delivery of the new system Busiest year ever for Il¥e chat wlth over 1.000 Conversation wtth supporters using thls functionality First ever legacy lilm created foryour Local Air Amt)ulance' Trading Opening of the store of the future in West Bridgeford Industry recognition for Melton Mowbray who were Shop of the Year for the Charfty Retail Associat?oD award5 (Doncaster were a150 nominated) New warahouse and distrit)ution process Increased margin of 3%from a smaller range of gO￿￿S Reductlon in overhead costs of£S27k New strategy for Store expanslon In retall The Air Ambulance Service l A cornparty limited by guarantee

FOR THÉ YEAR ENDED 31 DECEMBER 2024 CHIEF EXECUTIVE'S REPORT- PETAWILKINSON (CONTINUED) People and Buslness Support Services Launched our fik Tok channel 19 people achieved their ILM level 5 award 14 people 5uc¢essfully achieved their Aspiring Leader5 Academy Equipped our leaders to lead effectively through change implementing a'managing through Change, programme Finalised our re_branding strategy Launched ¥vinning temps as a tool to understand how people are feeling and how best to support them Ran a series otroadshows to communicate strategic intent and people's rolèswlthln It and held'coffee and cake, sessions to engage with people around the strategy Created a Volunteering strategy Implemented a new incident management system Concluslon Whllst our operating envlronment ￿maInS challenging. our strategic initiativ89 are driving posltiv& change, By optiml$lng our efficlency, streamlining costs and focusing on driving proflt we are positloning ourselves for a more sustainable fvtur& Our continued efforts in innovation, the development of clinical practice and strat8gic growth will ensurethat we can Mntribute to providing more care and support for the patients we serve. My grateful thanks go to all of our dedicated staff and volunteer teams and to our amazing donors and supporter& Peta.Wilkinson Chief Exeeutfve Officer The Alr Ambulan￿ Sefvlce l A company limited by guarantee

FOR THÉ YEAR ENDED 37 DECEMBER 2024 OURVISION, MISION ANDVALUES OUR VISION To ensure children grow.into adults. foradults to live longer and for families to stay together as bereavementthrough trauma becomes rare. OUR MISSION Our rapid response services work tirelessly to save lives and alleviate pain and suffering, wherever and whenever needed. OUR VALUES COMPASSION We succeed because we care. We care about our patients, our supporters. our partners and our colleagues. We act with dignity, humility, integrity and respect. ICOURAGE We succeed because we dare. We are bold. pioneering and brave enough to èsk questions of ourselves and others while actions are taken with responsibility. ,CREATIVITY We.succeed because we innovate. We recognise that new ideas. bi9 and small are essential for future growth. We are curious. we embrace change, and we rise tothe challenge. 11 The Ait Ambulance Servlce I'A compariylimited by guarantee

FOR THE YEAR ENOED31 DECEMBER 2024 TRUSTEE'S ANNUAL REPORT Thetrustees are pleesedto presentthelrannual reporttogetherwlththeconsolidatedfinancial statements of the charity and its subsicliary (￿he Group￿ for the year ending 310ecember 2024 which are olso prepared to mÉet the requirements of a Directors, report and accounts for Companies Act purposes. The financial statements comply wrth the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of A550¢1ation, and Accounting and Roporting bycharities.. Statementof RKommended Practiceapplicabletocharities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK an(J Republic of Ireland (FRS102)- LEGALANDADMINISTRATION INFORMATION Charity Name The Air Ambulance ServTce Charfty Registration Number lo9￿4 Company Reglstration Number 04845905 Re9lStered Office Blue Skles House. Butlers Leap. Rugby, Warwrckshire, CV213PQ Independent Auditor Crowe U.L LLP. 4th Floor. St James House. St James Square, Cheltenham. GLSO 3PR Bankers 8arclays Bank PLC. Lelcester, LE87 2B8 Investment Managers Cazenove Capital. l London Wall Place. London. EC2Y SAV CCLA. Senètor Hou$é, 85 Quéèn Wietoria StreeL London, EC4V4ET STRUCTURE. GOVERNANCE AND MANAGEMENT Prfncipal Activ5ties The principal activities of The Air Ambulance Service {"TAASJ are the relief of slckness and Injury and the protectlon of human Ilfe. prbn¢lpally (but not ex¢lu5Tvelyl. by the provision of an air ambulance service. statement of publ1¢ benefit The trustees conflrm that they hav¢ cornplied wrth the duty in section 4 of the Charitles Act 2011 to have regard to theCharityCommission¥ganeralguidan¢eon public l)enefiL°CtJarltles and Public Benefit". The AlrAmbulanc8 Servlces'charitable objects are stated within Its memorandLtm and arttcles of association and as such the trustees ensvre that the charitVs activities are carried out for the publi¢ benefit through its strategic prloritles. Thls is done primarily through the delivery of services by the provision of an emergency and children's air ambulance services which are provided at no cost to the patient(s). This report allows us to show how our charftable funds are spent and the impaet and benefit that this has on those requiring our services. as well as th9 wlder impact on the eommunltie$ w operate In. 12 The Alr Ambulance Service l A com.pany liffjited by guarantee

FOR THE VEAR ENDED 310ECÉMBER 2024 TRUSTEE'S ANNUAL REPORT (CONTINUED) Ourfundralslng standards A5 a charity reliant on voluntary income we take an activo and responsible approach to our fundraising. Our fundTaising activtty Is carefully planned and all supporter data on our fundraising database is governed by strict consent. unsubscribe and complalnts processes. Oversight ot these processes is carried out by an internal Data Protection Offtcer. ensuring we are kept up to date wlth new legislatton as well as suppofter feedback. We are registered with the Fundraising Regulator and tollow the Code of Fundralslng Practice. We are also registered wth the Fundraising Preference Service, wh7¢h allows supporters to 'opt out. of receiving communications from us. We received T3 FPS requests in theyear (2024). We have only had one complaint about our 2024 fundraising activities, which required involvement from The Fundrai$Tng Regulator. The ¢omplaint related to our door-to-door ¢0118Ctions of donated goods. The complaint demonstrated that the collection partner supporting USTntheSouthofEnglandwasnot recording requeststoopt-outofreceivingcharity bags effectively {despite Corrective actlon and oversight from us to Improve the situation over the preceding year). As a result of their ongoing failure to improve. wa decided to temiinatg our partnership with this third-party. and halted door-to-door chadty bag collections In the region. We are currently exploring option5 for how best to restart this activity - but wlll only proceed on¢e we have identih.ed a collection partnerwho fully appreciates the requirement to adhere to the opt-out regulations. The majorlty of our fundraising actlvlty is carried out by staff dlrectly employed by The Alr Ambulance Servlce, while we also work with a few ¢arefLslly selected professlonal partnerships to support ourworK such as promotion ofthelottery. Where others aTeinvolved In fvndraising on our behalf. we work closely wlth thern to ensuro the highest possible standards are always malntained. includlng understandlng our charity misslon. the regulator's code of practice- Gambling Commission licensing conditions- as well as relevant code5 of practlce and appllcable regulation. We pay an annual levy to support the Fundrals1ng Regulator and their Fundralsing Promise wlth its four underlylng values to support implementation of the fundraising code, which are meetingthelegal requirements. being openv4iththe public. betn9 honest being respectful. Supporters can contact us dlrectly at any time wlth any questions. comments or con¢erns via the'contact us, section on our webslte.. htt￿..IItheaIraMbUIanceserV1ce.crg.UkICOntaCtI Company Status The charity is a company Ilmfted by guarantee {reglstratlon number- 048459051. and as such has no shèTe capital. The ¢ompèny is governed by its Memorandum ènd Arti¢105 of Associatr"on which were last updated in November 2019.Theliability of the rnembers of the cornpany, as set out in the Memorandum of Association. is limited to £1 per member. Board of Trustees The Trustees of the charitable company, who are directors lor the purpose of company law, who served during the yearand uptothe date of thi5 reportare setautas follows.. Professor R J Alllson CBE DL Ms C Sheppard Mr Pwells Mr T Boxell Mr J C R Tennent MrAHoyle Mr P Whatmore (resigned 20 Novembar 24) Mr A Frad9ley M5 S Baumann Ms RGrant MrsJ Walmsley Company Secretsry Mrs P Wllklnson (appointed S December 24) Directors a￿ selected agaTnst pre-detemiined skllls criterla deslgned to ensure thatthe Board ha$ the necessary knowledge with which to direct The Air Ambulance ServiGe. 13 The Alr Ambulance Service l A company limited by guarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEE'S ANNUAL REPORT2024 (CONTINUED) Key Management Personnek Senior Management Team of The Alr Ambulance Service aThcl its Subsldlary atthe yearend: Mrs Pwilklnson. CEO Mr Rclayton, COO Mrs LGundy. CFO Ms D Young, Director of Income Generation Mr C Bailay, Associate Director of Operations Mrs ft O'Brfen, Assoclate Director of Qualrty & Governan¢e Mr M Rawllns. Director of Trading Trustee and Dlrector Indiictlon and tralnlng Trustees are inducted to the or9anisation on appointment and are brlefed as appropriate. As part of ongoing training. trustees have received formal charity law updates. strat*9ic $gs$ions and presentations in relation to operational requirements during the year. Organisatlonal Structure The Alr Ambulance ServTce Board of Trustees meets at least four times peryearto oversee the development of the charity and the Nvorkofthe Senlor Management Team. The Air Ambulance Service Tradlng Company Board also meets at least four times a year. to oversee the work and development ofthe tradang subsldiary. Several sub-committees support the governance of the charlty, includlng a Finance 5ub- Committee which considers matters of finance and IT, for both the Charity ènd the Trading cornpany. and an Au Day-to-day activities are overseen bythe Chief Exe¢utlve and the Senior Management Team on a delegated basis. Pay pollcy for Sonlor Staft Remuneratfjon Commlttee considers pay and other beneflts for senlor staff and makes recommendations to the Board of TnJstees for approval. The senior management team comprlse the key management personnel of the Chatlty In charge of directlng. runnlng and owratingthe Charity on a day-to day ba$f& We set salariesin line with ourgenoral pay policy principles to be competttive wfth similar roles ancl commensurate with the scope of the individual's iesponslbilities and demands of the job. Benchmarkfjng dats will be sector and location specific to each role wherever possible. Rlsk Management A robust rlsk management and governance process Isln place In respect of clinical operations, to meet the regulatory requirements of the Care Quality Commission fundamental standards and key line of enquiry. In addltion, a wider organi5ation focussed Risk Management proce55 is In place and is monitored regvlarly by the Executive Leadership Team. Senior Management Team and Board. 14 The Air Ambulance Servlce l A company limTted by guarantee

FOR THE YEAR ENDED 31 DECEM8ER2024 TRUSTEE'SANNUAL REPORT 2024 (CONTINUED) In line with best practice and the requirements of the Charities SORP (FRS 102). the Trustees have reviewed all major potential risks for the charity and tsken approprlate measures to mltigate their impact. OBJECTIVES AND ACTIVITIES The objects of the charitable company have not changed arid are as stated earlier under the Principal Activities. The activities of the charitable company continue to be.. The delivery of Helicopter Emergency Med7cal Services (HEMS), a trauma serw¢e responding to road accldents. fa115 of many kinds. medical emergencies. injuries received In remote locations ènd many other scenario& These services are based in Warwickshire. Northamptonshire, Derbyshire, Leleestershire ènd Rutland. The Oelivery of The Children¥ Air Ambulance. a hospital-to-hospital paediatric neonatal transfer serwce. This is a national service and involves liaison with crits.cal care hospitals and paediatrlc retrfeval teams across England. Our work Makes a difference to people, to communltles and to soclety as a whole. Our responsiblllty isfar reaching.The obvious impact is on savingllves. improving clinical outcomes and being able to react quickly and efficiently to emergencies but our influence Is also èble to challenge. and when necessary, try to change Government pollcles on health,. we are able to innovate in clinical care. challenge the boundaries that often exist In ststg run servlces and Invest heavily In the development of the people who deliver that care. Our prlmary purpose is healthcare and we will lead the way in our chosen fields of operation in trauma and medical emergenciesvia our HEMS services and inthe innovation and development of the unique critical transfer and retrieval $8rviGe that is The Children¥ Air Ambulance. However. our reach goes much further In our Impact on soclety. We are a significant employer and contributor to our local economies- we are a socially responsible organisation that values the very communitie5 that support us. Our expertise is made available to smaller charities, to educatlon establishments and to organisations with similar goals. We care about OLsr environment and we must use our abilltle5 to change. shape or challenge the voluntary sector as a whole for genulne publlc benefit. We are an organisation that engenders pridoand purpose TneveryindividLFal associatedwith us. STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE Hellcopter Emergency Medlcal Servkes (HEMS) and Cllnlcal Operatlonal Report Operating two speclalist AW109 helicopters and two RapTd Response Vghiclgs {RRV) daily, The Air Ambulance SeNice {TAASI remainsone of the busiestairambulance servlce provlders In the country. providing crltical care. life&iwng services to the NHS 24 hours a day. 365 days a year. The Air Ambulance Service (TAAS) attended 1,795 Criti￿7 Care mlsslons by hellcopter, and a further 1.984 Cfltical care missions by RRV - 3.799 CTitical care rnissions in totèl foT 2024. TAAS has responded to 56.057 lifesavtng mlssions slnce serwces commenced In 2003. a truly remarkable èchlevemenL The dedicated spare helicopter, which was introduced as part of the new helicopter fleet In March 2027, has been an asset durfng 2024 for periods of scheduled maintenance (routlne servlcingl and unscheduled maintenance (rgpairsl of the primary hglicopt8rs. This addltlonal resllience has ensured that ourlife sau5ng servlces by air wgre malntalned throughout the year. 15 The Air Ambulance Sefvice l A ¢ompanylimited by guarantee

FOR THE YEAR ENOED31 trECEM8ER 2024 TRUSTEE'SANNUAL REPORT 2024 (CONTINUED) Exter)ded flying hour5, May to Avgust Tn&. were once again undertaken in 2024 followlng the suc¢es5ful trial In 2021. During extended flying hours both aircraft were utilised not only in our primary re9ions but also provlding rnutual assistance in other areas. Both of The Air Ambulance Services, HelTCOPter Medtcal Services Derbyshire, LeTcestershire & Rutland Air Arnbulance (DLRAA) and Warwickshire & Northamptonshire Air Ambulance (WNAAI. slnce being inspected by the Care Quality Commission (CQC). have maintained an overall'outstanding, rating- the highest overall rating the regtslator awards. In oddition to recruiting new doctors,TAAS continue5 to support thEWest Midlands DEanery with their PHEM IPre-Hospitsl Emergency Meoicinel Tralning Programme. The programme helps to train and educate the next generadon of PHEM doctor& The Alr Ambulance Servlce {TAAS) Is extremely proud to be nominated Tn four categories at the Air Ambulances UK Awards of Excellence 2024. A truly incredible achievement given the alibre of nominations. Contlnuousimprovementis essentfjalln prehospltal care. and a numberof majoradvancements have been made during 2024 to how we train. educate an¢J equip our critical CaTe teams to supportthe NHS tocare forthe most sickand injured patients. We are pleased to report that following athorough clinical evaluatlonltrièl new ventilators and cardiac monltors have now been purchased and fj￿ now operatlonal with ourteams along with a new rnechanical chest compression device& Uslng the advaneed surgical equipment introduced In 2022 and state-or-the-art surgical an(J advanced alrway mannequlns purchased in 2023. TAAS have now run threesimulated complex education scenario days f¢r TAAS ¢lini¢lans but also used to 5UPPOrt external agencies such as the NHS. These two areas alone changed how we deliver certaln medication to patients •s well as performing invasivesurgical procedures forour sickast, most severely injured patients, TAAS has been ¢arrying blood on board 5t5 QP8ratlonal platforms slnce 2022. From implementation TAAS has already delivered this additional lifesaving treatment on 246 occasions. TAAS would like to take thls opportunity to acknowledge the support of both the Warwickshire & Solihull and Lei¢estefshirg & Rutland Blood Biker charities in deliverin9 blood and blood products daily to our operational bases. Honorary Contracts are now in place w7th nelghbouring Major Trauma Centres allowing our clinicians to undergo shlfts In dtfferent departments ènd thus continue their professional development. This exposure wll asslst the cllnicians with assessments and treatment in the pre-hospital settfng. Having knowledge of pathways withln hospitalsand exemplarycare beforo reaching hospltal can onlyserve patients with better outcomes. Aftercare support is an essentTal extens70n ot the care TAAS provrdes.. essentially our care to our patients, thelr lomilies and k¢ved ortes extends beyond the cloors of the Emergency DepartmenL TAAS introduced a Clinical Liaison 0fh.cer (CLO) In 2020 with great success. The CLO provide$ the conduit between TAAS fomer patients and their families and has been invaluable In provldlng Infomiation and support to help patients piece together th8 Patient joumeyto help aid thelr emotlonal recovery alongside thè physical. Quality outcomgslaudlt reports Continued to be revÉewed monthly by the Operations Management Team and quèrterly by the Clinical Governance Group. Audit assurances for anaesthesla. sedation. surgical skills and Infectlon, Preventlon & Control for both operational bases contlnue to provide excellent assurance. 16 The Air Ambulance Servlce l A company limited by guarantee

FOR THE VEAR ENDEO 31 DECEMBÈR 2024 TRUSTEE'S ANNUAL REPORT 2024.(CONTINUED) The Ch"Ildren¥ Air Amb"ulance'Operational Report TAAS have worked wlth Sloane Hellcopters Llmlted in 2024. operating two Agustawestland 169 (AW1691 helicopter& This included full engineering and a phased upgrade of the medTcal interior of one aircraft, the second will undergo the same upgrades early in 2025. In 2024TCAA Completed 200 critical rnlssions acrosstheccuntrysupportlng 11 NHS p"aediatric and neonatal specialist transport teams in their lifesaving worL TCAA has completed 1.084 rniS5ions since serylces commenced. On Friday. 05 July 2024. our ￿NICu helicopter undertook the l.OOOth mission, transferring a neonatal patient with Embra¢e- the Yorkshire and Humber Infant and Children's Transport Servi¢•. The journey, from Liverpool to Chesterfield. took just 35 minutes by air compared to the two-hour plustrip by road, exemplifyirt9 the life-changing impact of our wor In total TCAA saved a total of over 341hrs for our smallest most vulnerable patients compared to road transfer. and a total of over 735hrs of NHS clinician time compared to road transfer. Of the 200 missions completed. 75 used the bespoke incubator systems in transfers. Sinc? launching these Incubators In December 2022, they have made a profound difference In improving neonatsl care, enabling TCAA to safely transport the rnost vulnerable babies to where they need to be. TCAA is the first and only helicopter provlder In England to support the NHS with a helicopter certified incubator transport system. 2024 also saw a significant achievement with the 400th misslon mllestone of carrying a parent onboard- a touching reminder of how the charity values the vital bond betwèen famllles and their chlldren. especially during challenglng times. Flnancial Review We receive no government SUPPOrt.We rely solelyon donations. legacies. sponsorship. grants, fundraising events and our retail operations. We believe this enablos us to ensure that W9 Put the needs of the patient at the top of our entire decision making. We finish the year In a strong and better than antlclpated position. followlng the impact of wider market pressure$ as seeA across the whole charity sector. The £1.3m deficlt accurately reflectsthe slightdeclinein income but oUrunW￿ering supporttowardsfunding the Increased cost of charitable a¢tlvities in the year. For Income, we benefi'tted from an Incredlble response from our supporters. enab!Tng IJS to generate a total £36 mlllion income for the year. This is a decrease of E2.3m driven by a step dosvn Tn both legacies and retall Income. Expendlture Increased in the year by £3.2m: £1.9m of which is an Investment in our fundralslng ￿$t5 to support ffutu￿ years, Incomè; and £l.3m towards increased cost of missions. Investment Incom& inGreased by £O.Sin on thebackon higher Interest rates and therè was also an Investment galn of£O.4m. Our investment portfolio ts held forthe medium to long term and our Finance and Investment Committee approvethe strategy and parameters surrounding the Investment of surplus tund& This committee is also responsTble for agreeing the use of any investrnent vehlcles constderedto be of medium to high ris We are confident that The Alr Ambulance SeThlce remalns a financially stsble organisatlon and that vle are well posltloned to operate as effeth.vely as possible. The sustainability of our income allows us to cope wlth Increasing Costs, secure the stsbility of the charity by moving towards our reserves polFcy and a5 always. to ensure the maximi5atlon of fvjnds ralsed In the operation and running of the Helicopter Emergency Medical Services and The Chlldren's Alr Ambulance. 17 TheAirAmbUIan￿Ser￿Ce lAc0m￿nY1?rnTted byguarantee

FOR THE YEAR ENDED 31 DECEM8ER 2024 TRUSTEE'S ANNUAL REPORT 2024 (CONTINUED) Reserves polley The Charity is holding 12 months operational costs. whl¢h are approxirnately £16 million. As at 31 December 2024 the Charity held unrestricted free reserves of £18 million. due to the other £17.5m of our reserves designated to support our strategic aims. This provides us wlth the necessary fall-back positlon to maintain our operational capabilities in periods of downturn and invest in new equipment. infrastructure and provision for airbase as it becomes available. Golng concem The fi'nancial statements have been prepared on a going concern basis as thetrusteescon5ider that adequate reserves continue to be available to fund the arti¥lties of the charity and group for the foreseeable future and believe no material uncertainties exist. The budgeted income and expenditure is suffi"¢ient with thg level of reserves for the charity to be able to conts.nue as a going concern. Streamllned Energy and Carbon Reporting (SECR} The Charitable group is reporting energyand carbon emlsstons in compliance with Companies {Truste¢s R¥port) and Énergy and Carbon Report Regulations 2019. UK Greenhouse And Gas Emissions And Energy Use Data For The Period 2024 Energy consumption used to calculate emissions (kwh) 1,547,799 Emissions in metr6c tonnes C02e 2023 1,667,258 Gas consumption OwnedTransport Purchased electricity 8u5iness travel In employee owned vehicles Totèl emissions in rnetric tonnes C02e 53.08 51.19 30.87 36.93 19.56 21.93 55.74 53.75 158.65 763.80 Intensity Ratio 0.42 0.37 Thgchosen Intenslty measurement ratio Istotal grossemis5ion5 inC02e per no. of employees. Financlal Instrnments The charity ¢oes not usecomplexflnanclal Instrumentsas part ofitsfinancTal riskmanagement. It is exposed ta the usual credit riskand cash flow riskand managesthi5 through credit ¢ontrol procedures. The trustees do not consider any other risks attachlng to the use of financial Instruments to be m3terlal to an assessment of its financial pos7tion or performance. The Companies (Miscellaneous Reporting) Regulattons 2018 requ5res large companles to Include detail in their annual report descrlbing how the Trustees have had regard to matters set out in sectlon 172 (7) ofthe Companles Act 2006. The Twstees statement is set out below. Sectlon 172 {1) statement Companies Act 2006 Th*trustees have acted in the way whTch they Consider. in good falth. promotesth8 success of the charitable group for the benefit of its members and stakeholders as a whole, and in doing so have glven regard to (amongst other mattersTr. 18 The Air Ambulance Service l A company limited by guarantee

FOR THE YÉAR ENDED 31 DECEMBER 2024 TRUSTEE'S ANNUAL REPORT 2024 (CONTINUED) Business relationships With a highly committed and dedicated workforce. the charitable group takes great pride in listening to what our beneficiaries and 5tskeholders want and continu8s to provide the level of service they have come to expe￿. leading to continued increases in the awareness of the charitsble group¥ activities and operations Ourrelatlonshipwlth thecommunlty As a charity. publlc benefit is at the heart of all we do. The Chief Execukn"ve's report together with the Objectives & Activities and A¢hiev8ments & Performance section of the TTustee$' Annual Report gives full details of the impact of our operatlon& Maintalnlng a reputatlon for hlgh standards As a fundraising charity. we are compliant WTth the Code of Conduct Issued bythe Fundraising Regulator and take our responsibilities for exemplary clinlcal care very serTously. Furtherdetail can be found in the Clinlcal and Operational Aeport Included wlthln the Trustees. Report. Ourpeople At thg gnd of 2024, we employed 469 m•mber$ of staff and it is only through the comb7ned effort of our whole workfor¢e- our employee5. SUPPOrters and volunteers that we can change the lives of so many. The charlty encourages the involvementofemployees by means ofregular employee meetings and engagement in decision making processes that impact on them directly. Further details regarding key management personnel can be found Tn the Structure, Governance & Management section of the Trustees. Annual Report Employee involvement and employment of the dlsabled Friday tortnlghtly communlcatlon meetlngs are held for presentatlons and discusslon of key areas includlng business updates and projects. The Air Ambulance Service hasa numb8rofpoliciesand procedures in relationto all personnel rnatters. inGluding'. Equal opportunltles- and Health ET Safety The recrultmont and training of staff is undertaken in accordance with the charity's equal opportunitles policy and In line with the Equality Act 2010 (Amendment) Regulations 2023. Funds held as Custodian Trustees The Charity ha5 access to and control cwer the tunds held for 7be Children's Air Ambulance Service lottery. These funds are held in a separate bankaccount from the funds of the Charity. The Charity is reg7Stered with the Gambling Commission to run this lottery wlth day-to- day operations being under the control of a third party. Funds are released to the Charlty In accordance with accounts submttted by the third party. Principal Risks and Uncertaintles The Board ènd Joint Leadership Team have established a Board Assurance Framework whlch identifiesthe currentstrategic Risks and which 18 reviewed atall monthly Executive Leadershlp Team meetlngs and quarterty Jolnt Leadershlp Team. Board and Trustee meeting& Each PrincFpal Rlsk is managed by the appropriate committee and overall assurance is provided to the Audlt and Ri$kCommittee. 19 The Air Ambulan￿ Service l A comparhy limited by gvarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEE'S ANNUAL REPORT2024 (CONTINUED) Prlncipal Risks and Uncertainties {continued) We have a formal process In place whereby all types of ri$ks faced by the Charity have been considered astotheir probability and impact. measures and strategies have been documented and implemonted to deal with the identified risks on both an individual and overall ba5i$. All activity TS revlewed in the context of these rtsks and a 5ummarised vlew of the charities risks are shown below. Principle Risks What the risks mean to TAAS How we manage the risks Maintaining financl•l stability The ii5k is that we don't have sufficient Incom• to operate. Wo have a robust budgetin9 process. alongside quarterlyforecasting, reser¥es held. reserves policy and KPIS all9ned to strategy. We also use thls process in our Trading subsidlary. We have different income streams to av07d dependence on any one incom& strearn. Govemance and Compliance processes for both Board meetings and external organlsatlons. Quarterly revlew of strategic KPIS. Staff Training. Investment Tn systems. people. capital qssets. Maintaining organisat5onal excellence across all areas The risk is that we dortt deliverthe correct level of serviceor complianc Governance and strategy The risk isthatwedon* have the right governance structures in place to drive the strategy. Orthat the strategy is Incorrect as a result. We regularly rèview our performance and governance structures. There are processes Tn place to lead strategic change. People ￿pabIlIty and capacity The riski$that talented staff and volunteers are not attracted, developed and retalned In a competitlve Recruitment, appralsal and training processesfor staff are Te9ulèrly reviewed. We benchmark our pay.and beneftts across the sector. We have also Implemented a new volunteer strategy. Plans ForThe Future We have completed the first year in our three year organisational strategy and contlnue to focus on our Vlslon. MTssion and Core Values. Our Vlslon Is that we want chlldren to grow into adults and adults to Ilve longer, making bereavement through trauma rare. Our Mission Statement°Our rapid response service5 work tlrelesslyto save lives and alleviatg pain and suffer5ng. wherever and whenever needed. is reflected in our core values which are Compassion. Courage and Creatfvity. As an organisation we are clear on three thlngs, our ultlmate aim IThe Vision), the Impact we make on Soclety (The Mission) and the way we oo about achieving this imF)ortant work IThe Values). Every indlvidual in every part of thg organTsation hold5 these three thing5 dear to them. for weare not here todo a job: weare herefor a purposedriven by passion. commitment and humanlty. Ourcurrent strategic aims. as noted below are: Ourgervlce$: Dellverexcellencein all areas of servicedeliveryand developmentto mJximls• our ability to save lives. 20 The Air Ambulance Service l A company Ilmited by guarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEE'S ANNUAL.REPORT 2024 (CONTINUED) Our people and our value Develop a one team approoch underpinned by our values to be¢ome an Employerof Choice Our way$ of woiking: Organisationèl excellence with effe¢tive governance, quallty and infrastrueture Our Incomv. Grow. Innovate and dlversify our income streams. with a diverse and engaged supporter base Our Identity. Grow awareness of and support for our charity through a clgar and engaging brand that displays our core values and purpose A detalled strateglc plan exists behlnd each aim. supporteij by Kpls which are monitored quart8rly by the leadership team and Board. statement Of Trustees. Responsibilities The Trustees (who are also Directors of The Air Ambulance Serv5ce for the purposes of companylawl are responsible forpreparlng theTwstees'Annual Reportincludingthe Strategic Report and the financial statements In accordance with applicable law and Unlted Klngdom Accounting Standards (United Kingdom Generally Accepting Accounting Practlce). Companylaw requlresthe trtssteesto preparefinanclalstatementsforeach flnancial yearwhlch give a true and fair wew of the state of affalrs of the charitable company and the group and of the incomlng resources and appllcation of resources. including incorne and expenditure. of thg Charitablg group for that period. In preparing these finandal statements, the trustees are requlred to: select suitable accounting pollcies and then apply them consistently: observe the methods and princTples in the Charities SORP 2019 (FRS102); make judgments and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed. Subject to any material departures dis¢losed and explained in the financial statements.. and prepare the financial statements on the going Concern basis unless it is inappropriate to presume that thecharitable group will continue in operation. The Trustees are responsible for keeping adequate accounting records that disc105e with reasonable accuracy at any time the fi'nancial position of the charitable company and enable them to 8nsure that the financial statements comply with the Companigs Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and fi.nancial information included on the charitable company¥ website. Legislats"on in the Unlted Kingdom governing the preparation and dissemination of financlal statements mty differ from legislation in otherjurisdiction& Provlsion of InfonraatTon to audltor So far ès each ofthe Trustees is aware atthe ttmeth1s reportls approved: there Is no relevant audit Information of whTch the charitable company auditor is unaware; the trustees have taken all steps that they oughtto have taken to make themsalves aware of any relevant audit iDformat?on and to establish that the au*Jitor Is aware of that Informatlon. Approved by the Board of Trustees on 22 May 2025 and signed on its behalf by: Professor Bob Allison CBE DL Chalr of Trustees The Air Arribulance Service l A company limitgJ by gvarontee

FOR THEYEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT To the members ofThe Alr Ambulance Se￿1¢e forthe year ended 31 Oecembgr 2024 Opinion We have audlted the financial statements of The Air Ambulance Service (he charitable company,) and its subsidiaries (he group.) for the year ended 31 Oecember 2024 which comprise the Consolldated Statement of Financial Activities. Consolidated Balance Sheet. Charitable Company Balance Sheet. Consolidated Statemènt of Cash Flows and notes to the financial statements. including significant accounting policie& The financlal reporting framework that has been applied in their preparation is applicable law and Unlted Kingdom Accounting Standards. including Financlal Reporting Standard 102 The Financial Reporting Standard appllcable In the UK and Republlc of Ireland (United Kingdom Generally Accepted Accountlng Prartl¢e)- In our oplnlon the financial statements= 9ive a true and falr view ofthe state of the group5 and the charitable Gompatys affairs as at 31 December 2024 an¢J ofthe group income and expenditure, forthe year then ended.. hève been properly prepared in a¢¢ordènce with United Kingdom Generally Accepted Accounting Practlce,. and have been prepared in accordance with the requirements ofthe Companies Act 2006. Basisforoplnion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK)) and appllcable law. Our responsibilities under those standards are further described in the Auditor's responslbllltles forthe audlt of the flnancial statements sgction of our report. We re independent of the group in accordance wfjth the ethlcal requirements that are relevant to our audit of the financial statements In the UK Including the FRC'5 Ethlcal Standard, and we have fulfilled our other ethical responslblllties in accordance with these requirements. We b81igve that th8 audrt evidence we have obtalned is sufficient and appropriate to provide a basis for our oplnlon. Conclusions relating to going concern In audlting the tinancial statements. we haye concluded thJt the tru5te5 use of the going Concern basis of accounting in the preparatr.on of the financial statement5 is appropriate. Base(J on the work we have performed, we have not identified any material uncertainties relatlng to events or conditions that, individually or ¢ollectively, may cast Slgnificant doubt on the charitable Company's or the group* abllltyto contlnue asa golng concern fora period of at least twelve months from when the financial ststements are authorised for issue. Our responsibillties and the responslbllltles of thè tTUStees wlth respect to going concern are dÈscribed in the relevant sections of this report. Other information The trustees ore responslble for the other Infomation. The other inf0m￿tIOn comprises the Informatlon Included In the trustees. annual report. other than the financial statements and our audltor's reportthereon. OUT oplnlon onthe h"nèncial statements does not cover the other Information and. except to the extent otherwise expllcltly stated In our report. we do not express any fom) of assurance concluslon thereon. 22 The Air Ambulance Service l Acompany limlted by guarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT(CONTINUED) In ¢onne¢tion with our audit of the financial statemonts. our responsibility is to read the other Informatton and. in dolng so. conslderwhether the other Informatlon is materlally Inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material incon51Stencie5 or apparent material mi5Statements. we are required to determine whether there is a rnaterial misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we concludethatthere is a material misstatementofthis otherintomation, we are required to report that faet. We have nothing to reportin this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken In the course of ouraudltr the Informatlon given in the trustees. report. which includes the directors. report and the strategic report prepared forthe purposes of company law. for the financial year forwhich the financial statements are prepared is oonsistent with the financial statements.. and the Strategic report and thg directors. report included within the trustee$. report have been prepared in accordance with applicable legal requirements. Matters on whlch we are requiredto report byexception In light of the knowledge and understardng of the group and charstable company and thelr environment obtained in the course of the audit, we have not identified material misstatements in the strategic report orthe directOTS' report included within the twstee$' report. We have nothing to reportin respectofthefollowing matters In relation to whlch thecompanles Act 2006 requlres usto reporttoyoulf.ln ouropinlon: adequate accounting records have not been kept bythe parent charftablecompany, or returns adequate for our audit have not been received from branches not vlslted by us; or the parentcharitablecompany'5 financialstatements arenotln agreementwiththeaccounting records and returns- or certaln dlsclosures of dlrectors. rornun•ratlon specified by law are not made: or we have not received all the information and explanations we require for our audlt Responsibilities of Trustees As oxplained more fully In the Trustees. r&sponsibilities statement set out on page 17. the trustees {who are also the directors of thecharltablecompany forthepurposes of eompanylaw) are responsible for th8 preparation of the financial statements and for being satisfied that thèy give a true and fair view, and for such Internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whetherduetofraud orerror. In preparing the financial statemènts.thetrustees are responsTble for èssessing the group's and parent charitable company's ability to continue as a going concern. disclosing, as appllcable, matters related to golng concem and using the going concem basls of accounting unless the trustees either intend to liquidate the group or the parent charitable Company or to cease operations, or have no realistic alternative but to do so. 23 The Air Ambulance Service | A company limited by guarantee

FOR THE YEAR ENDED 31 OECEMBER 2024 INDEPENDENT AUDITOR'S REPORT(CONTINUED) Auditor* responsibllities forthe auditof thefinancial statements OUT objectives are to obtsin reasonable assurance al)out whether the financlal statements as a whole are free from material misstatement. whether due to fraud or error. and to Issue an auditor's report that Includes our QPTnion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audlt conducted in accordance with ISAS (UK) will always detect 8 materlal misstatement when it exlsts. Misstètement$ can arhse from fraud or error and are considered material if, individually or Tn the aggregate. they could reasonably bo expected to Influencè the economic decisions of users taken on the basis of these financial ststements. Detai15 of the extent to which the audlt was considered capable of detecting irregularities, Including fraud and non-compliance with laws and regulations are set o¢Jt below. A further description of our responsibilities for the èudlt of the financial statements is located on the Flnanclal Reporting Councll¥ website at www.fr¢.org.uklauditorsr8sponsibilities. This description forms part of our auditor% report Extent to which the audit was considered capable of detecting irregularities. includlng fraud Irregularlties, Including fraud, are Instances of non-compliance with laws and regulatlons. We identified and assessed the thsks of materlal mlsstatement of the financial statements frorn Irregularitles. whether due to fraud or error. and dlscussod thes& between our audit team members. We then designed and performed audit procedures responslve to those risks, In¢ludingobtaln?ng audltevidencesufficientandappropriateto piovidea basisforourop?nion. We obtalned an understanding of the legal and regulatory frameworkswithin which th& Charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determ?nation of material amounts and dlxlosures In the fvnancial statements. The laws ènd regulations we considered in thi5 context were the Companies Act 2006t09etherwith the Charities SORP(FRS10212019.Weassessedthe requlred compllancg with these laws and regula￿on$ as part of ouraudit procedures on the related financial statement Items. In additlon, we consldered provisions of other laws and regulations that do not have a direct effect on the flnanclèl ststements but compliance w?th which might be fundamental to the charltable company's antt the group¥ ability to operate or to avoid a materfal penalty. We also considered the opportunities and incentives that may exist within the ¢harTtable company and the group for Fraud. The laws and regulations we considered in this context for the UK operations were General Data Protectfion Regulation (GDPR}, anti-fraud. Care Quality Commlssl¢n (CQC), bribery and ¢orruptr"on k9islation. health and safety leglslatiDn. taxation leglslatlon and employment legislatlon. Auditing Standards limit the rfjqulred audit procedures to identify non-compliance with these lèws and regulations to anquiry of the Trustees and other management and inspection of regulatory and legal correspondence. if any. Waldentified th8greatestrl$kofmateriallmpactonthefinan¢ialstatementsfromlrregularltles, Includlng fraud, to be vithin the tlming of recognltion of legacy income, grant income and the override of controls by managament Our audit procedures to respond to these rfsks included enquiries of management about theTr own idenknh"cation and assessment of the risk5 of irregularities. sample testing on th& postr.ng of journals, revlewlng accounting estimate5 for biases. reviewing regulatory ¢orresponden¢e with the ChaTlty Commlssion, designing and performing audit procedures over the timlng of grant income. deslgning and pertormlng audlt procedures overthe timing of legacy income. and reading mlnutes of meetings of those charged wbth governance. 24 The Air Ambulance Service l A company limited by guarantee

FOR THE VEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT (CONTINUED} Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the fi"na"ncial statements. even though we have properly. planned and performed our audit in accordance with audit?ng standards. Forexample, thefurther removed non-compliancewith laws and regulations{irregularities) isfrom theevents and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing stèndards would identify it. In addition. as with any audit, there remained a higher risk of non-detection of irregularities. as these may involve collusion. forgery. intentional omissions. misrepresentations. or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations. Use of ourreport This report is made solelyto the charitablecompany's members. as a body. in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006. Ouraudit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an audltor's report and for no other purpose. To the fullest extent permitted bylaw. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body and thecharitable company¥ trustees as a body. for our audit worK for this report. or for the opinions we have formed. Guy Biggin Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 4th Floor St James House StJames Square Cheltenham GLSO 3PR Date: 17 June 2025 The Air Ambulance SeTviGe l A companyl?rnited by guarantee

FOR THE YEAR ENDED 31 DECEMBER2024 CONSOLIDATED STATEMENTOF FINANCIALACTIVITIES (Incorporating an income and expenditure account) For the year ended 31 December 2024 Income Note Unrestricted Resiricted 2024 Total 2026 Total Funds £'OOO Funds £'OOO £'OOO £'OOD In¢ome resources from generated fund$ Donations and legacies 8,446 3.126 11,572 13.148 other trading activities Investment income 23.069 23,069 1,261 24.265 766 1.261 Total In￿me 32.776 3.126 35.902 38.179 Expènditure Costs of ralsing funds Costs of generating voILFntary income Commercial trading operatlons and other costs Charitsble a¢tivitlo8 7.449 7.449 5,526 16.116 16,116 16.189 Operation ol Air Ambulances 10.406 3,674 14,020 12,701, Total expenditure 33.971 3.614 37,585 34,418 Net (expenditure) I Incomo belore galns on Investments Net gain on lixed asset investments 0.195) {488) (1.6831 3.761 ii 395 395 677 Net (expendSture) Ilneome before taxation (800) (488) {1,288) 4.438 Taxation 1491 Net movement In funds (800) (488), (1.2881 4.389 Reconciliation of funds Total Funds brought forvlard atl January 2024 Total Funds carrfjed fonvèrd at 31 December 2024 37.642 743 38.385 33,996 18 36.842 255 37.097 38,385 The statement of financial aetiwties Includes all gains and losses recognT$ed In the year. All Income and expenses are derived from continuing activities. The notes on pages 30-46 ftym part ofthese flnanclal ststements. 26 The Air Ambulance Service l A company limlte(I by guarantee

AS AT 31 DECEMBER 2024 CONSOLIDATED BALANCESHEET Company number. 04845905. Note 2024 2024 2023 £'ooo £'ooo £'ooo 2023 £'ooo Fixed assets Tangible assets Investments 10, li 1,848 13.237 15.085 1,797 la842 14,639 Current assets Stock5 312 519 Debtors 12 5,499 18.718 4.134 21,526 26.179 (1,774) Cash at bankandin hand 24.529 (1.749) Credito￿. Arnounts falling dve within one year Net currrent assets 13 22.780 37.865 (768) 37.097 24.405 39.044 (6591 38.385 Total a$sets1gss ¢urrentllablltles Provisions for liabilities 14 Net assets Funds Unr•strlcted funds General funds 17 78,105 1.237 17.500 255 36,800 842 Investment revaluation reserve 17 Designated funds Restri¢tod fund$ 16 Is 743 Total fund$ 37.097 38385 The notes on pages 3046 form part of these financial statement& These financial 5taternents were approved by the 8oard oftrustee5 and were signed onthelr behalf on 22 May 202S. Professor Bob Allison CBE DL Chalr of Trustees The Air Ambulanee Service l A company limited by guarantee

FOR THE YEAR ENDED 31 DECÉMBER 2024 CHARITABLE COMPANY BALANCE SHEET COMPANY NUMBER..04845905. Note 2024 E'OOO 2024 £'ooo 2023 £'ooo 2023 £'ooo Fixed assets Tangible assets Investments io 1.140 13.238 14,378 920 12,842 13,762 Current assets Stocks Debtors 12 S.918 17,741 23.6S9 (1.250) 4.330 19,937 24.267 19581, Cash at bankand in hand Credltors: Amounts falling due wlthin one year Net currrent assets 13 22.409 36.787 23.309 37,071 Total a$sets less current l?ablities Provislons for liabilities 14 Net assets 36.714 57,071 Funds Unrestricted funds General funds 17 17.722 1.237 17.500 255 35.486 Investment revaluatlon roserve 17 842 Deslgnatod funds Rfystrlcted funds 16 15 745 Total funds 36.714 37,071 The compaws net movement In lunds forthe yearwas a deflcft of £0.4m 12023.. surplvs of £5.43m). The notes on pages 30-"46 fomi part ofthese financial statements. These flnanclal statementswere approved bythe Board of trustees ond weresi9ned on their behalf on 22 May 2025. kJw- J &. Professor Bob Alllson CBE DL Chairof TTUStees 28 TheAirAmbu1an￿SerV7ce l A company limrted byguarantee

FOR THE VEAR ENDED 31 DECEMBER 2024 CONSOLIDATEDSTATEMENT OF CASH FLOW Reeoneilliation of net incomin9 resources to net eash 2024 flow from operating activities £'ooo 2023 £'ooo Net (expenditure) l income Depreciation Loss on disposal of tangible fixed assets Net (gaFn) I loss on fixed asset Investments Decrease l (increase) In stock (Increase) I decrease In debtors Increase I Idecrease) In credltors Investment in¢ome recelvèd D,288) 669 4,389 713 17 1395) 207 (677> (40) 69 (1.365) 84 (400) (766) 3,365 .261) (3.332) Net cash {outflow) l inflow from operating activities Cash Flow Statement Net cash (outflow)lintlow from operats.ng actwitt.es Ca$h flows from investing activites Purchase of intangible fixed assets Purchase of tanglble ftxed assets (Decrease) I Increase In cash and cash equivalents In the year (3,332) 1.261 3.665 766 (737) (2,808) 1635) 3A96 Analysis of changes in net cash Ail Jan 2024 £'ooo Cash flow E'OOO At 31 Dec 2024 £'ooo Cash at bankand in hand 21.526 (2.808) 18,718 Reconcilliation of Movement in Cash 2024 E'OOO 2023 £'ooo Net (decrease) l increase in cash and cash equivalents for the year 118081 3.496 Cash and cash equivalents as at l January 2024 Cash and cash equlvalents as at 31 December2024 21,526 18.718 18.030 21,526 Cash flow$ from investing aetivities 2024 £'ooo 2023 E'OOO Investment Income recelved 1,261 766 29 The Alr Ambulance S8Mce l A company limited by guarantee

FOR THE YEAR ENDED31 DECEMBER 2024 NOTESTOTHE FINANCIAL STATEMENTS l. Accounting policies Thefollowing accounting policios havebeenapplied indeèling with itemswhichareconsidered material in relation tothe flnanclal statements. 8asis of preparation The ftnancial statements have been prepared In accordance wlth Ac¢ountlng and Reportlng by Charitles.. Statement of Recommended Practice applicable to Charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) Icharities SORP IFRS 1021). the Financial Reporting Standard applicable In the UK and Rapubllc of Ireland (FRS 1021 and the Companie3Act2006. The AirAmbulance SeNicemeetsthedelinition ofa public benefitentity underFRS 702.Assets and liabllltles are inltially recognised at historical ¢ost or transaction value unless otherwise stated in the relevant accounting policy notels). The consolidated accounts incorporate the accounts of the parent charitable company and all group undertakings. Consolidation ha$ been undertaken on a line by line basls. A separate statemwt of fi.nancial actiVTkn"es for the parent charitable company is omitted from the group aecounts by virtve of section 408 of tho Companie5 Act 2006. Income All income are Included in the Statement of Financial Aetivities when the Charitable group is entitled to the income and the amount can be quantified with reasonable accuracy. The followin9 speclftc policies are applied to particular categories of in¢ome- Glfts In kind i) Assets given for distribution by the charity are included in the Statement of Financial Activities only when distributed. 11) Assets 91ven for use bythe charity (e.9. propertyfor Its own occupatlon) areincluded in the Statement of Financlal Activitles as in¢ome wh8n receivable. Ili) Gifts macle in kind but on trust for conversion into cash and subsequent appllcatlon are Include(J In the accounting period In which the gift is sold. In all cases.theamountatwhich glftsfin kindare broughtlntotheaccountsis eithera reasonable estlmate of their value to the charitable group orthe amount actually reallsed. Donated le￿iCeS and facTlitles Donated services and faclllties are included at the value to the charitable group where this can be quantified. In accordance with the Charllles SORP (FRS 102). the value of services prowded by volunteers has not been included In these accounts. Legacies Legacies are credlted to the Statement ot FinancTal Activities when either the schedule of Assets and Liabilities or monies have been receivod. Thi$ uses the three recognition Criterla of probabilityof receipt, abilitytoestimatewith5ufficientaccuracyanclentitlementinaccordance with the charities SORP FRSIO2. Trading outlet$ Retall sales are included In the perlod In whlch the salels initiated. The Air Ambulance Service l A company Ilmlted by guarantee

FOR THE YEAR ENDED31 DECEMBER 2024 NOTES TOTHE FINANCIAL STATEMENTS ( CONTINUED ) l. Accounting policies- continued Structure of funds Where there Is a legal restrlctlon on the purpose to whioh a fun¢J moy be put, the fund is elassilied in the accounts as a restricted fund. Funds where the capitsl is held to ggnerate income for charitable purposes and cannot Itself be spent are accounted for as endowment funds. Other funds are classified as unrestricted funds. Funds which are not legally restricted but which the trustees have chosen to earmarkfor set purposes a￿ deslgnated funds. Expenditure All expenditure is accounted for on an èCCTuals basis. All expenditure Is recognised onc8 there Is a legal or constru¢tive obligation to make a payment to a third party. Expenditure Is matched against the restricted or unrestrlcted funds to which it relète5. SupF)Ort costs directly attdbutable to an activity are allocated to that ackn"vity. Other c05t5 that cannot be directly attrtbuted are allocated against the Categories based on management's estimate of usage of those services. a) Costs of ralstng funds The costs ot generating funds are the costs associated with generating income through fundraising and other activities. including the costsof the commercial trading operations. b) Charitablea¢tTvities The trustees consider that there is only one ¢harltable a¢ti¥ity, that of the provision of an air ambulance service. c) Governance costs These are the costs assoclated wlth the governance arrangements of the charéty which relate to the general runnlng of th.e charity as oppose¢l to those costs assoclated wlth fundralsing or charitable activity. The costs include external au(Jlt and costs assoclated wlth constltutlonal and statutory requlrements e.g. thè cost of trustee m09tlng$ and preparing statutory aocounts. Fixed assets 'Capitalisatlon All assets falling intothe followlng categories are capitalised. l) Tangible assets which are capable of belng used for more than one year and have a cost equal to or greaterthan £500,1£200 forThe AirAmbulance Service Tradlng Limited) i)) Groups of tangible fixed assets whTch a￿ interdependent or would nornially be provided or replaced as a group with a total value in excess of E5.000 and an inthyidual value of £500 or more, (£200 forThe Air Ambulance SeTviee Tradin9 Lim?ted) 31 The Air Ambulance Serwce l A company limited by guarantee

FOR THE YEAR ENDED 31 DECEMBER2024 NOTES TO THE FINANCIALSTATEMENTS l. Accounting policies- coirtinued Tangible Fixed Assets and Depreciation Fixed assets are recorded at cost or, in the case of assets where assets have been donated to the group, at valuation at the time of acquisition. Depreeiatlon is pr¢)vfded on all tangible fixed ssets excluding f￿ehOld land. at rates calculated to write off the cos¢18ss estimatgd residual value, based on volue5 prevailing at the date of acquisition. of each asset. on a slralght line basis, over its expected useful life. as follows: Buildings Fixtures and fittings Medical equipment OffTrce equipment Motor vehicles Computer equipment Theholding valueof a55et$ 15 reguTarly reviewed forimpaimient ènd where deemed appropriate assets are written down. 20% 20% 20% 25% Fixed Asset investments Investments are a form of basicfinancial instrumenL are initially reco9nised attheirtransaction value and subsequently measured at their fair value as at the balance sheet date using the closin9 market value. Gains and 1055es arlslng on disposals and revaluation throughout the year are included in the Statement of Financial Activities. All Investment income is treated as unrestrlcted. ,Stock Stock consists cf Purchased goods for resale and items to be 97ven to volunteers and people who partlclpate In fundralslng events. Stocks are valued at the lower of eost and net realisable value, after makin9 due allowance for obsolete and slow moving items. The valve of g¢)ods donated for sale In the group's charity shops is not Included In stock. Instead, they are accounted for as income in the period in which the goods are sold. '.Debtors Short term debtors are measured at transactlon price. less any Impairment. Loans recelvable re measured Ins￿allY at fairvalue. netof anytransaction costs. and are measured subsequently at amortlsed cost using the effective interest methorj. le55 any Impalrment. 'Ca$h and ¢ash equivalents Cash 1$ represented by cash In hand and deposlts wlth flnandal Instituuons repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date ol acquisition and that are readily convertible into known amounts of cash with inslgnlficant rlsk of change in value. .Flnancial instrumènts The charitable company enters into only basic financial instrument transactions that result In the recognition of financial assets and liabilitTes like trade and other accounts receivable and payable. loans from banks and other third parties, loans to related parties and investments in non-puttableordinaryshares. Basle financlal Instrumèntsareinitially recognisedattransaction value and subsequently measured at thelr settlement value. 32 The Alr Ambulance ServÉce l A company limited by guarantee

FOR THEYEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIALSTATEMENTS l. Accounting policies-continued Creditors and provislons Creditorsand provisionsarerecognised wherethecharitablecompanyhasapre$entobligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogn?sed at their settlement amount after allowing for any trade dlscounts due. Penslons The charltable company operates a defined contrfjbution pension scheme for employee& The assets of the schemè are held separately from those of the charitable company. The annual contributions payable are charged to the Statement of Financial Actiwties. Operating leases Operating l&)se rentals are charged to the Statement of Financlal Actfjvftles on a straight-llne basis over the lease term. Lease incentives are charged on a straight-line basls over the term of thè lease. Glft aid payments recelvable The parent charfty re¢elves Incomefrom Itstradlng subsldlary underthe giftaid scheme. which are recognlsed as dlstributlons to owners In equlty wlthin retalned eamings of that company. At the reportlng date there was no legal obligation In place tor the charity to receive this glft ald payment, although prior to the reportTng date the trading svbsidlary board had indicated its Intention to pay the taxable profits to the parent charity in respe¢t of the reporting date. Therels notaxcharge in theyaardueto the exceptlon under29.14Aof FRS102. Rellef Is allowed as the gift aid paymeftt will made by the trading subsidiary to the parent cornpany within 9 months oFthe yearend. Judgemonts in applying accounting poll¢les and key sources of estimatlon uncertainty Thecharitablèeompany makesestimatesandassumptTonsconcerningthefuture. Management are also required to exercise judgèment in the process of applying the charitable company¥ accounting policies. E5tlmates and lu¢Jgements are continually evaluated and are based on historlcal experience and other factors. Includlng expectations of future events that are believed to be reasonable under the circumstances. In preparing these financial statements, the trustees have made the followng Judgements: Determine whether leases entered Into by the chadtable company either as a lessor or a lessee are operatr.ng leases or finance lease& The declslons depend on an assessment of whether the tlsks and rewards of ownership have been transferred from the lessor or lessee on a lease-by-lease basis based on an evaluatlon of the terms and conditions of the arrangements. and accordingly whether the lease Tequire$ an asset and l?ability to be recognised in the statement of finan¢Tal position. The Air Ambulance Service l A company limited by guarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIALSTATEMENTS I. A￿ountIng pollcles- Contlnued Provisions. A provlsion is recognlsed when the charitable Company has è present legal or constructs.ve obl?gats"on as a result of a past event for which it is probable that an outflow of resources wlll be requlred to settle the obligation and the amount can be reliably estimated. If the effect is matefial, provislons are determined by discounting the expected futurè cash flow at a rate that reflects the time value of money and the rlsks speciflcto theliablllty. Whether a present obligation is probable or not requlres judgment. The fftotuo and typa of r1sks for these provisions differ and rnanagement's judgement is applied regarding the nature and extent of oblTgations in deciding if an outnow of resources is probableor not. DeprecIa￿On and residual values. The Trustees have reviewed the osset lives and associated residual values of all fixed asset classes. and in particular, the useful econornic life and residual value5 of fixturés and fittings. and have concluded that asset lives and residual values are appropriate. The actual lives of the assets and tssidual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives. factors such as technological Innovation. product life cycles and maintenance programmes are taken into account. Resldual value assessments considerissues such as future market conditions.the remaining Ilfe of the asset ènd projects dlsposal values. l Donatlons and lega¢les Unfestricte(J Restricted Total Funcss fotal Funds FJnds£'OOO Funds £.000 2024 £.000 2023 £,000 Donations 5.228 3.152 66 85 5,313 5.679 S80 5,116 7.574 458 Legacies Grantsreceivable (see note 3) 2.527 514 8.446 3,126 17,572 13,148 Othe¥ tTading activities Charity shop income Lottery Income Evgnt income 13,836 8.594 13,836 8,S94 639 15,143 8.522 600 639 Other 23,069 23.069 24,265 Income from donètltsns and legacies In 2023 was £13m of whTch £8m was attributable to unrestricted funds and £5m to restricted funds. Income frorn other trading activiti&s In 2023 was £24.26Sm all of which was attributable to unrestrlcted funds. At the balance sheet date. the charity had been notlfied of a number of legades whlch do not meet our legacy recognition policy. Accordingly. no in¢ome has been ￿e09ft1$ed but the estimated valueof theselegacigs is approxlmately £Z7m. 34 The Air Ambulance Service l A ￿MpanY limited by guarantee

FOR THE YEAR ENOED 310ECEMBER2024 NOTES TOTHE FINANCIALSTATEMENTS 3. Material grants received by category 2024 £'ooo 2023 £'ooo Sources of matertal grants: General Cttarities of the City of Coventry Millionaire Street Grant Fund 90 90 Dennis Alan Yardy Charitable Trust RSM UK Foundation 55 28 EFD Trust 20 The Parker-Hannifin Foundation ()avld Wilson Foundation 19 15 15 TheEBM Charitable Trust 13 io 0'8rien Charitable Trust io io The Forbes Charitable Trust io NPTUK io Association of Alr Ambulances 31 Groundworks (Tesco Bags of Help) The L&D Sec¢ombe Charltable Trust The Margaret Giffen Charitable Trust TheSaintburyTrust TheJohn SalmonTrust 15 ii io 10 io National Philanthropic Trust UK The Haramead Trust io 10 Other< £lO.000 Total 230 226 $80 458 Lk Investment Income 2024 £'ooo 2023 E'OOO Bank interèst 804 318 Investment Income 457 Other 1.261 766 The Air Ambulance Servlce l A company limited by guarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS S. Expendituré expended by activtty Basis of Generating Trading Charitable Governance 2024 2023 allo¢ation voluntary eosts activities osts £'ooo £'ooo £'ooo £'ooo £'ooo £'ooo Costs directly Ilo¢ated to activities Fundraising Costs Dire¢t 2,700 2,700 2,411 Operations Markéting and PR Direct ia577 ia577 3,341 11.642 2,215 Direct 3.341 Trading C05t5 Depreciation Support costs allocated to activites Direct 15.642 315 15.642 IS,735 Tr3 Direct 354 669 Support Services Hours 1.408 1.089 159 2.656 1.702 7,449 15.957 -14,020 IS9 37,S85 34,418 Operational and fundraising staff are allocated directly, managernent and admlnistr•tion are allocated on a time apportloned basis. The expenditure in 2023 was £34.418m of which £29.663m was attributable to unrestricted tunds and £4.755m to restricted funds. Included within Morketing and PR ¢ost5 is £l.Im (2023: £Nil) relatlng to Investment into our digital strategy. 6. Staff Costs 2024 £￿00 2023 £'ooo Wages and salaries Social securlty costs Pension costs 11,656 10,238 874 33S Redundancy and terminatlon payments 176 30 13,302 11,4TI During the year there were termlnotlon payments ot £176.355 payable to 27 members of staff (2023= £29.765 to 15 members of staffj. There was £Nil outstandin9 at the year-end (2023: £Nil). 36 -The Alf Ambulance Service l A Companylimited by gvarèntee

FOR THE YEAR ENDED31 DECEMBER 2024 NOTES TO THE FINANCIALSTATEMENTS 6. Staff Costs- continued The average number of employees during the year was as follows: 2023 No. No. Aviation Operations Fundraisin9 Trading Admlnistratlon 39 34 32 332 326 54 53 469 445 Penslons contributions The charity operates a defined contribution penslon scheme for employees. The assets of the seheme are held separately trom those of the charity. Annual contributions amounting to £433,476 {2023: 634.571) were ¢hargecJ tothe Statement of Financial Activities during the year. At the balance sheet date, there were U6.301 outstanding ¢ontributr"ons (2023: £66,175). Key Management Personnel remuneration There were seven12023= five) members of the senior management team and thelr agg￿g￿te remuneratlon in respect of qualifying semces forthe Group was: 2024 £'ooo 2023 £'ooo Remvneration receivable 521 385 Soclal securlty costs Pension contributions 56 45 41, 618 30 458 The number ot hlgh pald empl¢)yees whose remuneratlon (exeludlng pension contributions) for the year fell within the followfng l)ands were.. 2024 2023 No £130.000 to £139.999 £120,OOOto£129.999 £IIO,000 to £119,999 £80,OOOto£89,999 £70.000 to £79,999 £60,000 to £69,999 13 The Air Ambulance Service | A company limited by guarantee

FOR THEYEAR ENDED31 DÉCEMBER 2024 NOTESTOTHE FINANCIALSTATEMENTS 7. Tru8tees and connected persons'tran&ictions Trustees, expenses reimbursed Expens8s were incured of £6.917 {2023: £10.804) were relmbursed to 7 Trustees (202&' 71 and related to travel cost5. Trust0￿, remuneration No trustees reGeived rernuneratlon durin9 the year (2023- Nil). The Charity pays an insurance premium In ￿Spect ofTnJstees'and Individual￿liabIlIty cover èt a costof£924{2023:£926). 8. Netlneomo This is Stated after charging: 20i4 É'ooo 202S £'ooo Audltor$' remuneration- audit service 35 33 Depreoiation - owned assets Loss on disposal of tangible fixed assets Operating Lease Costs 669 713 17 8.744 8.321 9. Taxation and Deferred taxation The charitable company. as a reglstered chartty. Isexemptfrom tax onlncome and galns falllng wfthin section 478 of the Taxe5 Act 2010 or Seth"on 256 of the Taxation of Chargeable Galns Act 1992 to the extent that those are applied to Tts charfjtable objects. No tax charges have arlsen wlthln the charltable company. The tax expense for the period Is defeffed Tax is reco9nised in the Statement of Comprehensive Income. except that a charge attributable to an item of income arid expense recognised as other comprehensive Income orto an Item recognised directly in equityis also recognlsed In other comprehenslvelncome or dlrecttyln equity respecttvely. Deferred tax balan¢es are re￿gnIsed In respect of all timing difference5 that have orfglnated but not reversed by the Balance Sheetdate, except that. . The rg¢ognltion of deferredtax assets islimited to the extentthat Is probable that theywli I be recovered against the reversal of deferred taxliabilities or future tamable profits and . Anydeferred tsx balances are reversed if and when all the conditTons for retaining associated tax allowances have been met. Deferredtaxbalancesarenot recognlsedin respectof pemianentdifferencesexcept in re5pe¢t of business combinations, when deferred taxis recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the dlfferences between the fair values of liablllties acquired and the amount that will be assessed for ta Deferred tax Is determlned using tax rates ar￿ laws that have been enacted or substantlvely enacted by the balance sheet Llate. The Air Ambulance Service l Aeornparylimlted by guaraltee

FOR THEVEAR ENDED 31 DECEMBER2024 NOTES TOTHE FINANCIAL STATEMENTS 10. Tangtble fixed assets Leasehold Fixtures Property & Fittings E'OQO E'OOO Equipment Motor £Doo Vehicles E'OOO Tctal £'ooo GROUP Cost Atl January 2024 Addltions 150 2.040 391 3.647 346 226 6.063 737 Dlsposals At 31 December 2024 (356) 2.075 (I,I44) 2.849 o,soo) 5.300 Iso 226 Doprèclation Atl January 2024 Charge for the year Disposals At 51 December2024 iio 1.414 244 2.582 393 160 4,266 669 10 22 (340) 1.318 0.143) 1.832 {1,483) 3,452 120 182 Net book value At 51 December 2024 30 757 1,017 1.065 Equipment Motor 1,848 1,797 At 31 December 2023 40 626 66 Leasehold Fixtures Property & Fittings £'ooo £'ooo Total É'ooo CHARITY £'ooo VehTcles £'ooo Cost At l January 2024 Addltlons 150 2.583 222 3.403 295 574 Disposal$ At 31 December2024 (247) 480 0.127) 1.751 11.374) 2.603 150 222 D8preelatlon At l January 2024 Charge forthè yoar Disposa15 At 31 December 2024 317 1.897 256 0.127) 1.026 159 2,483 354 io 66 22 (247) 136 0.374) 1.463 120 Net book value At 31 December 2024 30 725 41 1,140 920 At 31 De¢ember 2023 40 686 63 39 The Air Ambulance Service l A company limited by guarantee

FOR THE YEAR ENDED 31 DECEMBER 2024 NOTESTO THE FINANCIAL STATEMENTS 11. Investments GROUP Cost or Valu)tion Mana9ecl Funds Total É'ooo É'ooo At l January 2024 Net gains on investment At 31 December 2024 12.842 395 12,842 395 13.237 13.237 CHARITY Cost or Valuation Investments in Subsidiaries £'ooo Managed Funds E'OOO Total E'OOO At l January 2024 Net galns on investment At 31 December 2024 12.842 395 12.843 39S 13.237 13.238 Otsr portfollo of funds Is managed equally by Caienove CapTtal and CCLA. Their mandate is to maximis8 the overall growth of these funds through investment in various different asset classes while ensuring that the risks taken arg carefully monitored. managed and controlled, whilst bearing in mTnd liquidity needs. Tho following are subsidlary undertakings at 31 Oecember 2024: NAME Holding Pnncipal Activity Retail charity outlet Proportion held by the charity loo% rhe Alr Ambulance Service Tradlng Llmtted The Air Ambulance Service Events Limited Ordinary shares Ordinaryshares Dormant loo% The AlrAmbulanceService Recycling Limited The Alr Ambulance Servicè Aviation Limited Ordinaryshares Dormant loo% Ordinary shares Dormant loo% TAAS Servl¢e Company l?mlted by guarantee Companylimitod tyguarantee Dormant nl The Children's Air Ambulance Dormant All oftheabove eompanles arglncorporatad in England & Wales. 40 The Air Arnbular￿e Service l A Company limited byguarantee

FOR THE YEAR ENDED 31 DECEM8ER 2024 NOTES TO THE FINANCIAL STATEMENTS 11.1 Net income from trading acitivite5 of subsidiary The Alr Ambulance S&rvlce Trading LlmTted. the wholly owned subsldiary of thè charity Is a retail charity outlet. A summary of Its tradTng results for the year to 31 December 2024 are shown below. Audited ae¢ount5 wfrll beflled wlth the Registrarof Companie 2024 2023 £'ooo Turnover 11369 0.590) 111.7161 2.656 12.775 (1.971) 01,510) 2,218 1.512 150) 1.462 2,357 1.462 (2,505) 1,314 Cost of sales Admlnlstratlon expenses other operating income Operating profit Taxation X9 Pioflt aftertax 719 Retained earnings atthe beginning of thoyear Proflt tor the year Giftaid payment Rétained earnings at the end of the year 1.31S 718 0.6SO) 383 The assets and liabilities at Sl December were.. Fixed assets 708 877 Current assets .847 {1,477) (695) 383 2,705 0,608) 1660) IA14 1.314 Current liabTlities Provislons for liabilities Total net a$s¢t$ A99regate share capltal and ieseTv?$ 383 12. Debtors Group 2024 £'ooo Group 2023 É'ooo Compar)y Compony 2024 2023 £'ooo £'ooo Amounts falling due within one year Amounts duefrom group undertaking Trade debtors 978 793 ios iT7 15 92 Other debtors Prepayments Accrued Income 18 16 16 15 1.432 3.944 884 993 735 2,813 244 3.916 as56 VAT 139 5.499 4,134 5,918 4,330 41 The Alr Ambulance ServiGe l A compary limited by guarantee

FOR THE YEAR ENDED SI DECEMBER 2024 NOTESTO THE FINANCIAL STATEMENTS 13. Creditors Group 2024 £'ooo Group 2023 £'ooo Company Company 2024 2023 £'ooo £'ooo Amounts falling due within one year Trade creditor5 682 895 575 516 Taxation and social security Other creditors 245 242 144 131 75 47 37 274 Accruals and deferred Tncome 544 569 309 VAT 203 175 1,749 1,774 1.250 958 14. Provisions forliabilities Balance at l Jan Additions in 2024 the year É'ooo £'ooo Balance at 31 Dec 2024 £'ooo Group Dilapidations Defeired tax 610 109 719 49 49 659 109 768 Balance at l Jan Additions in 2024 the year É"'ooo £'ooo Balance at 31 Dec 2024 £'ooo Charity Dilapidations Oeferred tax 73 73. 73 73 15. Restrlcted Funds 8alanGe atlJan 2024 £'ooo Income £'ooo ixpeAdiLui"e Transfers Balance £'ooo E'OOO at 31 Dec 2024 E'ooo CAA- Incubator 58 58 Children'5 Air Ambulance Ser- vlce 159 0591 DLRAA Servlce 1.371 1.406 (1.371) 0.975) (2) 007) WNAA Seivlce 569 Lloyds Charltles Trust Varbous OtherTrusts and Foundations 112 190 195 743 3.126 (3,614) 255 42 The Air Ambvlanee Service | A eompanylimited by guarantee

FOR THE YEAR ENDED 31 DECEM8ER2024 NOTESTO THE FINANCIALSTATEMENTS 15. Restricted Funds Balance Income Expenditure Transfers 6alan¢e at l Jan £'OOO £'OOO £'ooo at 31 Dec 2023 2023 E'OOO E'DOO The Chlldren's Air Ambulance- Incubator 58 58 CAA Hell¢opter lease appoal Children's AirAmbulance Service (6) (155) 9) 0,316) 1311 (2,9741 (451 (S7) 0521 (4.755) 155. OLRAA Helicopter lease appeal DLRAA Servi¢e 19 1,316 WNAA Hellcopter lease appeal WNAA Service 31 569 Lloyds Charities Trust Variou5 Other Trusts and Foundation5 49 217 006) (314) (4201 112 LIBOR Funding 466 5.231 743 Purposes of restricted funds . The ChildrenS Air Ambulance- Incubator was an appeal launched to purchase an Incubator forTCAA before it was part ofTAAS. Children's Air Ambulance Sevrfice represents fvnds received specially for the service of Children's Air Ambulance. DLRAAServicerepresentsfundsrecelvedspeclallyforthe5ervlceof Oerbyshlre,Leicestershire and Rutland AirArnbulance. WNAA Service presents funds received specialty for the service of Warwickshire and Northamptonshire Air Ambulance. . Variousothertru5tsand foundationshave provideddonationsforspecificrestrlcted projects. 16. Designated Funds Balance atlJan 2024 E'OOO In¢orne É'ooo EKpen(jitU￿ Transfers Balance É'ooo É'ooo at 31 Dec 2024 E'OOO Airbases 12.000 5,500 17,500 12.000 5,500 17,500 Other strategic investments At the year end the trustees have designated funds of £17.Sm (2023.. £none) for future development of airbases, rgbranding and systems. Included within the other strategic investments designated fvnds are amounts relating our 5-year strategie. The Air Ambulance Service l A company limited by guarantee

FOR THE YEAR ENDED 31 DECEMBER2024 NOTES TO THE FINANCIALSTATEMENTS l?. Unrestricted funds (group) l Jan 2024 Income £'ooo E'OOO Expenditure £'ooo GaTns on Transfers 310ec Investments E'OOO 2024 £'ooo £'ooo General funds 36,800 32,T76 {53.971) <17.500) 18.105 Investment revaluation reserve 842 39S 1,237 l Jan 2023 Income É'ooo £'ooo Expenditure £'ooo Gains on Transfers 31 Dec Investments £'OOO 2023 £'ooo £'ooo General funds 33.144 32.948 129.T2} 420 36.800 Investment revaluation reserve 165 671 842 Unrestricted funds (charlty) 7 Jan 2024 Incone £'ooo £'ooo Expenditure £'ooo Gainsofb T¥ènsfers 61 Dec Investments £'OOO 2024 £'ooo £'ooo General fund5 35,486 21,383 121.647) 07,50QI 17,722 Invostment revaluation reserve 842 395 1.237 7 Jan 2023 Income L'ooo £'ooo Exrjenditure £'ooo Gains on rransfers 31 Dec Investments £'OOO 2023 £'ooo É'ooo General funds 30,788 20,113 175.835) 420 35.486 Invostrnent revaluation reserve 165 677 842 The Alr Ambulance Serylce l A company Ilrnited by guarantee

FOR THE YEAR ENDÉO 31 DECEMBER 2024 NOTES TOTHE FINANCIALSTATEMENTS 18. Analysis of net assets between funds Fixed Assets £'ooo Netcurrent 2024 Assets Total E'ooo É'ooo Fixed Assets £.000 Net Current Assets £'ooo 2023 Total £'DOO Unrestricted 15,085 4,257 255 19,342 255 14.639 23.003 743 37.642 743 Restricted Deslgnated 17,500 22.012 17,SOO 37.097 15,085 14,639 25.746 38,385 19. Operatlng lease ¢ommltment$ At 310ecernber 2024 the charitable group had future minimum lease payments under non- cancellable operating leases as set out below. Group Operating leaseswhich expire: 2024 Land & Buildings E'O?0 2024 Other 2023 Land 2023 Other items & Buildings items 'ooo £'ooo £'ooo Within l year 8ètween I to S years Morethan S years 1,776 4.164 677 6.618 20.398 467 1,574 4,660 1,017 7,251 6.673 23.384 4,149 34,206 6.617 27.483 Charity Operating leases which expire.. 2024 Land & Buildings E'OOO 2024 Other 2023 Land 20230ther items & Buildings items £'ooo £'ooo E'OOO Within l year Between I to 5 years Morethan S years 159 6.281 19.973 185 6,301 22,585 4,149 33,035 240 494 467 399 26.721 679 The Ali Ambulance ServT¢e | A company lim?ted by guarantee

.FOR THE YEAR ENDED31 DECEMBER 2024 NOTESTO THE FINANCIALSTATEMENTS .20. Financial commitments As a result of group registration arrangements for value added tax (VAT). the charitable company is jointly and severally liable together with other.members of the groupforany VAT due bythe representative mernberofthegroup. .21. Capital commitments Contractual conimitments for a store refurb"ishiiierit ¢(¥ntracte¢J for but not provlcled in the linancial statements amounted to £nil (2023: £84..181). Contractual commitments for a helicopter modift"¢ations and medical equipment contracted for but not Provided in the financial statements amounte¢ to £153,488 12023: £nil). 22. Membership The Air Ambulance Service is incorporated under the Companies Act 2006 as a Company Ilmited by guarantee having no share capital. Thè liability of rnembers to contribute towar(Is the debts of the charity in the event of a deficit on winding up 15 limited to £1.. 23.- Controlling parties In the opinlon of the trnstees. given the structure of the charity. there is no ultimate Cohtrolling party. .24. Related party transa¢tions Transactions with Trustee5 are disclo$ed in in note7. During the year the charity received a donation of a trustee for£SO. {2023: none) There viere no other related party transactions in the year.(2023.. noriè) TheAirAmbulance Service l Acompanylimited by guarantee

The Air Ambulance Se￿ice ( A company Ilmited by guarantee I your local air ambulance 'Doibythire ' /' childien's air ombulonce . keeping hope olive. Ru1iond FOR THE YEAR ENOED 310ECEM8ER 2024 P•rt 01lhE JDgaq74.