THE AIR AMBULANCE SERVICE 41 ANNUAL REPORT AND FINANCIAL STATEMENTS 12025 Reglstered companynumbar.. 0484S90& RegT5tered¢haritynumber=1098874 CONTENTS Annual Report Financial Statements Chairman's Statement Consolidated Statement of Financial Activities 30 Chief Executive's Statement Consolidated Balance Sheet 31 Annual Highlights 7-11 Charitable Company Balance Sheet 32 Trustee's Annual Report Consolidated Statement of Cash Flow 33-34 Independent Auditor's Report To The Members 2528) Notes to the Financial Statements 3&55 TheAtr Ambulanu S•rvl¢¢ l Annual Report 2025 Pa9•2 1 The Air Ambulance SeThice l Annual Report 2025 P•g•31 Chairman¥ Statement Chief Executive Report Trusteos, Annual Report Independent Auditors Report Financial statements CHAIRMAN'S STATEMENT A¥ Chair. l am pleased to rellecton a defined by progress resilience afidaLleep¢ommitmerttoourn)Isslon.Inthesecondyrofourthreeyear 5tratBgy.Our¢)rgarti8ationhaseontif￿edtOdÈmon5tratedOrftyofpUrp05e andtheabilitytodeli¥erexceptiork3llmp8¢tinanln¢wslNJlychallengin9 erw?ronmeTrt. t1*￿0￿$￿T￿nbelTr9andincIUS7Qryen5Vringt￿at￿ebu￿lath¢en￿ronMentneededfOrpÈOpIet0tht1 Volunteeriry presentÈO Challen9es during the year. particularly 4rwnd ￿￿Ilment and retention. In respxse. urthrtook a fundamental rthrtew ot our approaGh. ID 2026. we ￿11 move to a more locany enabled thatstren¢Jtbeos¢ommunityrda￿oTrshfpSand provKJesmor•dirtrt$upporttoourstores arK1 fundralslr¥Jteam&Thisshirtwyll hdpliuiid3moresustalnablevolunteernetworKforth8 fvture. Every pètientde5erves worldleathrycrftical carE.whwevef anol whBrw&r It Is needed. Throughout 2025. this belief has been brought to life by our dedl¢ated staff, wolunteers and supporter& Their profe5sioThahsm. Gornpas5ioDanddete¥miDati£X)r8rt)lThtheOrMn9frrtebehlnde*erythln9 weachie Strong g¢>vemartt ￿maInS essential to our rnis5ion. In 2025. we strengthened Ouf bu5ines5 continuity worK entsnc8d our rtsk marwment proL￿e5 and etnbodded a more Integrated approach to quality and a59Jrance aGr05SthB organisatiorL The BDard ofTrustee5 has remained deèply engaged throughout theyear. pr(widingoversighL ch3llengeanO supporLI am grateful fortheircomrnitmentand forth$¢larlty rMI StsbllltylheybdThgtoouigovemJrK Our operatlonal teèms have con￿n￿ed to push boundarfe5. responthng to more requests for help an d?livÈring Trnereasingly complex Inter¥entlon& Thls yeai Sèw s1gnlncant mllestor*5 Sn our neor*atal and paediatric ser￿ceS. further ¢evelopment ot $oe¢iolist ¢apabiiiknes. and condnued reflnement of the equipmentanLltrainingthatUnLlerpino¢JrcljnicalexGellenGe.ThEsea¢hieutmentsretkctntstonlyiechnlcal expert15e buta ¢Jeepcommitrnenttoprowoling the bestPDssiblecare. A5 we enter the final year of eurrent 5tr*egy. wt do 50 WTth ¢onfider)ce. Our operatlonJl capatsility has never been strotKJBr. our cul￿re contIn￿e5 to mature and olegpen. our flnènclal and governance foundations are rn0￿ robu* than Èver. We remaln ambitlous for the futurE- for Our patlents, lor cur cornmunitie5and fortheorganisatiofi￿are bullthngtcOher. Ananclalsustainablllty remainscentral toourlon*term 5ueces& In 2025. ourTrathngdivi5ion uDdew**nt a major $trategi¢ transtormation. r¢shaping how we operate and ueatlrtg a m￿e reslllenl efficient and scalable rncxlel forth? futur& This wort has u$ for¥ustainable gr(pwth In a landscape. On bthblfof the Board ofTrustee& l exteno n)y ￿n¢￿thankstO0ur Chief ExeGutTve. Peto Wilkin$on, our staff. voluntsers ana supporter& Y￿r dedication and generosty make everythln9 we achieve possibl EveryMissiorye¥erylifet(wl*dar￿e¥eryslepforwardIsateStrn￿Trtt0yoVr¢0mmltMen￿ Tog*ther. * wfil cortlnue to be a beacon of excpl1on¢e. hope senrtce for the comtnynlkn•$ we ère prwdto sewve. Ourfundralsln9 and Supporter ew4a9ementtsèms ha¥ecoTh￿nuedto excel. deepenirrfJ relationships?nol stren9thenlng the connectlon bets¥een our mlsslon and the commurllties we Se￿ We have welcomBol new partner$, expan¢Jedour reaeh and contlnued tolnnovatein how**engagesupport Professor Bob Allison OurpÈopleTemèinèttTheheartof¢xJror9anisètion.Thi$year¥en9agementiewrtS5hu*thatouf¥¥orkFor¢e feelsin¢rgaslnglyconn¥¢ted.valu￿0ndprttudOftheI￿rktheYdo.wehave£0￿tlfiue(*t06nye5llftIeadersh7p The AlrAmbulance Senrtce l Annual Report 2025 Pag041 TOGETHER, OSAVE MORE LIVES 79 Th• AlrAmbulance Service l Annual Report 2025 Pag•5 | Chairman Statement CM•f EX￿utIVe Report Trustees. Annual Report Independent Auditors ReFQrt Financial Statements CHIEF EXECUTIVE'S REPORT l am deli9ht*i*to bèsharin9thèoutwrttyttTheSetondyearof(￿rthreeYear or9ODisational strategy.ayearinwhichsornuchhasbBenaGhievedthrouyh thBhardworkandcornmitrnentofourun5tintingernployee5arKl¥￿tsteer￿ 2025 saw ourengagementsuryey resultsprO￿aÈstrow and encouraging eviLlencethatth*work we hève b8en tlolrKJtollsten and resFond toour people is real dlfference.we have seen oureNPS ri5eto +19. pladn9 usfirmlylTh positi%* a￿¥￿territory.wlth tnore¢olleaguesrecommendlngtheoryanisation s a g￿t plrte to wotk than noL Alongside this. our ovevall engagement Index ￿fleetS hlgh levels of Qymnrnitrr￿t. widtranrj ¢¢)nne¢tlontOOur mtsslon. In 2025, our HEMSteams re5wnded to3.460 missionsacrossairand la performin9 626 hl9h-aculty Inter¥entlons. such as 83 on-seene blood transfusions and &51 pie hospltal emergency anaesthetle& Meanwhil¢ OUT NCAA ¢rewS hit a major mikstCJfie with their l.OOOth pètient transfer (luDngal56rnis$ionyear.Notably.48ofthe¥etr3nsfetsvbliseowrbespoke incubatorsy5tem.anol overall. NCAAair missionssaved nearfy2SOIKwrsof critical. life-changingtran51ttirnecompared to road traThsport. TheSere9J￿S7go3l Trwningfvl pro9rtssin stren9thenlrfjourcultureaTrdemployeeexperi8n¢g.whileèlso 91¥in9 us è clear platform to builol on through our ¢ondnued focus on wellbeing. reGognition. lea¢fr$hlp visibilityandlwal eligage￿I￿¢1Tr0n* Our Trèdlng div1s1on sueeessftjlty a strategte transf0rrf￿0n of Cjur exlsting trading model giwThJ pl&fOrmfor$uthinablogrowtn.Thisin¢luae£ithelaun¢Thit￿4ftJ$mb8oOirtgoftTheR•tOrH￿l)&B1a￿modeI which fundamentally reshaped howour5tockfl(yw& shopsare 5UPPOrted and growthisenabled.Thisgi¥es thefoundationsfornat￿naIeXpans7on.stror*Jerprofi￿bilIty.an1jIMPr0￿￿dresIl￿Ke7na¢hallen91WIetall enwronment. JrGontinuedfocusonwtrdithn9ex¢elkntpattentcarehashelpedustoreache¥*ngf*terlevelsofc11nlcal piactiee.ThisCombir￿Wth0urCC￿ti￿ueU¢OM￿itMenttoreSearchandtraIThlngplaCesuS1Na￿evenbetttrr posltlon to Sttve our communi￿eS into the futur& Our fows n(￿ 1$ on Sustèlnèblllty both financlal and emronmentsi. Weeontlnuethe processotrefinementtoensurethat we ¢an driveefflclency and improve tyjrifflpart. we are delighted wth thecommltment ofourteams of skili¢d etnployees and ¥olunteers and Iwgful f￿0￿[strat9970S9oifv4 forwèrd despite ihehor6hen¥iroThment inwhichweargope¢atin9. In 2025 the'hèpp1ness factor, of our supporters was 95% whlch ts amazlng and a testsmerlt to the hard work and commltment of our fund¥aiSin9 and Supporter experfenceteaml We 9rew Qur networks across our 9eographlcal area weleomlrt9 dlgnltarfes and communlty 9r(Air& to Our bases and wlthln the sect achlevlng a grantfrom AAU Peta Wilkinson Chief Executi¥eOfr From 2026 wtr will rnove to a tnore loBalty enableol. 'l￿Dts on thg grourKI- Ir￿r￿n9 (lirèrt supporttoour5tores.funLlraisingan4volunteer5whilestreamliningthecentralfvnthoDtotocusooinsighL standards ènd tarqeted intervention& This shlft is designed to irnpr￿e resronsi¥enes4 Strengthen Iccal relatl¢nships.an¢J¢reateaffrt)resvstalnaL)lean¢ resilleni¥olunteernetththètcartsupportour]ong-terni Incomeand commvnityambltlons. Th• AlrAmbulane•S•rvle• l Annual Report 2025 Page61 Chalrnian Stat9ment Trustees, Annual Report Independent Audltors Report Flnancial statements Roport Clinical Excellence & Patient Care upai•1•d p￿d￿lI￿art￿ i18Ortètrlwulpment ndtrèlnlr4strenohenbThJ clinfjcald•lfvoryfot t￿rYoUTh98$t patlents major mllestonewlth NCAA*600th mlsslon corr￿￿91 Parerltalongsldethelrchlld, rnlnlorclng tamlly-¢entred care OurAftqfcareSeThlc8GortUnvMItOgrtyi, u, hollsUcsups)tytto padents,tèmllf&s a•dl¢Mdon¢5follu•Angtraumath¢ trdents OPERATIONS Annual Highlights Specialist Missions & Regional Leadership Innovation, Research & Future Capability (i J Celrt¥ateLI 11)(ttb my￿1￿n0120& streamllnlng OPOf•tlonal mana9er¥*rtanO Improvlng efficl&n¢y mo￿n9• vltlcaVyfn patlentfrom SvJth8rnptori to Nvwe•tt*.VilrrfJ thO¢)ntyECMO-capablvalr mbvlart••lrcr)tt In bll8h•d acomweh8nslveievi8wof1ntefflal￿d.. colljboratlw researeh Support$d C￿￿￿lear* Parnmeth¢sto presentresear¢h poster6atnJY¢￿l $emlws. ntrit*rtlng to pr8-nospltal innovation Ht)stod mvltlplo HALQsur9lcaltralnlTh)days, supportlng cr￿￿)￿r•￿•MSW￿th high-￿Ity. low-o￿Urr•r￿tprot•￿UreS The AlrAmbulancèSor¥lc• l Annual Report 2025 Ptye71 Chairman¥ Statement Chi¢f Ex¢¢utiv•¥ R•port Trustees. Annual Report Independent Auditors Rewrt Finènclal Statements Events & Campaigns StysTheLlmlt- lssue5ralsed a7&000.the m05t suc¢*ssfultrlldontodate RaisedÉ38.OOOarndwa8featured on naUonalTV Ru9byHalfMarnthon- ChèrltyPartThe¢, S0+ runners.r/.5004 walsed FUNDRAISING Annual Highlights Partnerships & Innovation Engagement & Community cke5¢*)natsJiternstocieDtsserwyl>ag5 for uselnourshops Flrstbasevlslt held wltholl fl¥e HEti$ Hlghsherftts 93,540young peopleodv¢èt8d abo ourworkthehighestreachever chI￿ed Lautt¢hefJ GtyQreenand Goyellowproducts CRMTran5f0rn￿on Pioje¢tl8un¢hed to 5trewthen supporterengagemert Wetook partln Doncaster Prtdeforthe 4th ￿rrUnnIng$haV1rK4 ourworkwAth theZO.OOOatteDdees The Alr Ambulance Serylce l Annual Report 2025 Pag081 Chalfman Statement Trustee Annual Report Ind8p8ndont Au(litors Report Financial Statements Report Operational Transformation & Infrastructure ope￿dan￿ operatlon•1160d thfyCh8￿&rNeld Hub, streTrythenlng dlstflbuttoncawblllty 09r•8sed P￿bY)￿th• n•xt*trat•9lchubloCb￿Cn 21 aDsedahlgh-eOtstwai•houu t•¢llltylnrryons•to chawng mark•t¢ondlt10ft6for rag t¢xdhs ? Stren9thwed Ile¢Lt¥anssy)rt èn¢J k*lstkB ncethrou9h nw*rol85, pollcleyartd TRADING Annual Highlights Commercial Performance & Margin Focus Digital & Online Capability Laun¢W afvltylnknJBeorAlrb•¢)pw•Yoft Galnedfunct)nty￿￿￿dn￿•jtta. rnargln andbRnd 8vlkStrongerl￿JndO￿oth$tof1¥[vffjdl9l[al ' gfo%¥thand pertormanc*ln*... , goodsltolmprrnefftuerwond ryollts ThoAlr AMt￿lanCe SonAc• l Annual Report 2025 P•g•91 Chairman statèment Chlef Executive Report Trustee Annual Report Independent Auditors Report Financial Statements Leadership & Talent Development Laun¢heo the People Partner Model. pro￿(11￿9 closw. talloredwpportforleadersaDdt8am$ 19colleagues joineclthoAspirin9 Leaders Programme, preparing fortheirflr¥t leadershlprole5 Inspsredthenextgeneratlonthrough School sltsandcareers fol[3. ral$lng awarenessof rworkaThdcbreeropportunities PEOPLE Annual Highlights Accessible People Services & Ways of Working Volunteering & Community Connection iauneheda nthy People Informètton Huty making peopleinformatson andSenrf￿5 more ¢¢¢¥$iTr)leanU user-friendty • Cwteda'bwtson t￿￿O￿nd"vOlunt8Orfn9 ¥trategyallgned tolong4érm Incomeand ¢ommvnityamblttons strearnlined recruitment 5ySternsand processes, iMpro￿ng theexperiencefor candidatesond hiring manageTS RantheSecondVolunt￿n9Gty￿rnerl, Survey.Identlfylngtwok6yfo¢us areas Employabllityand svpporttorvoiuntws-.:: Volunteerexperfenca. Detworksand ¢orffftmlty Ildln9 Invested Intechnoicoy tosupportfuts effidenclesandeost sa￿n9& TheAlrAmbulanee SenAce | Annual Report 2025 Page 10 I ••• Chalrman Statement Chl•t Executlv Trustee Annual Report Financlal Ststements Audttors ReF Risk, Assurance& Control Impl•ment•d the R15k Manog•montènd Assurar¢e Str•togy•crou•lllewJlsof theorgJnlsatlon Introdu¢•dtho Board Agwrbnce Framework lono8ldgCorpor4teand Operatlonal Rlsk Registers -1 Launched a¢•ntral I￿100n1 an<1 Rl$kMawement I System.stMn9iMningowYslqht4nd or9an15attonal lfyamln9 QUALITY& GOVERNANCE Annual Highlights Resilience & Business Continuity (I Health, Safety & Environmental Assurance an r*ail proP•rtSe4 wlthext•malpwr•vlv* ' fromNorthampton Flro& Reacu•9wvl¢• polkie* ￿a$￿53nd t￿￿1r￿SSImPart￿5st$$m￿ts R￿1￿￿1 manual handlln9 proc•wstorFI••( aTrd Lo4stksddversto reduva4gYUabltrlnJurt08 UndertOQkthe¢ygaTrlsationSfir5t 8CMSd•¥tt •x•rci5e. va￿￿￿￿￿)r￿epartdr￿5ar￿J rB5PW*• I Collated organlsatlon-wI¢J•L1ato tO￿l¢Ulate j thB¢hartty¥¢arbonfootprfnt. eBt•bllihlnga basellneforfuture rtductlon plannlno Th• AlrAmbulance SeNice l Annual Report 2025 Chalrman's ststement Chief Executive¥ Report Independent Auditors Report Financial Statements Annual Report ANNUAL R RT The trustees are please4 to wesent thelr annual report t(tyher with the ¢oAtsolldated Nnanclal stètements of the cnarity ond Its >j￿Ydance￿th the Financial Reporting stsDdardappll¢ablein the UK and Rewb1fcofl￿laAdlFRs1O2). LEGALANDADMINISTRATION INFORMATION Invostm•fttMa•ag*r CCLA SenatorHouse 85Queen V1ctorfa Street London EC4V4ET BlueSkTesH*èr. Inaddltlontorecrulyn9nwd¢XtorsJndsUPPOrtkn9theWe5tMld￿IX1$Q••￿￿1Iht￿e1￿pHEM{p1￿H04>*II Emergency Medlclnel Tralnln9 Pragyamme. TAAS alw Implemented 4 htr*JunSor PHEM Fel*￿ pr(wmm•to complementlt$exlstlng Stnlor PHEM Fellow prograrnme. Thls newwogr•mmewllloffera uDi¢4utrOppty￿rllty for junior dg¢totS to 9aln su￿r￿Se￿ eApe¥lenGe in tr* dollvwy ￿ Jthfan¢4d pre-hospitsl cwitKal ur• wlth (TAASI. The Fen¢x¥vAII und•rtak•supthsed praGticewitb8xw1•n¢edcrfy¢4ICarnParan*tssand andattend educa￿0￿ ￿n￿and¢h￿l￿1CJ* r￿¥S￿r￿ghtwA t￿*1*1￿•¥￿b TAA& OpBr4ttonèlc¢Y4erremaltyetl¢w0lJtenttyrrt￿*thr(￿￿￿t2O2￿r￿jvlv￿th1Ip￿l0d.TAAsw￿yx￿￿lItrkn71n collaboratH)n wlth ItsalicrartQftydthrtohJrtheroptimis•daylbtylt utfitJ•t*)Tht￿eittie￿s¥JeO1Vw80ts1b￿d extended summw hour& Undor th1$ trlal. aircraft oper•tfy 12 thffts JJrwto Awil •x1 ad¥ancernents4¢rOSS TAAS'Cllnl￿1opOrltI0n& Ao)tnw¢henslbe revkn ol•ll medlcal kttarKIMthryneTrtwa$ completed.leadjngtoa mwnlngful r*éu¢tIoninthe￿7q￿t¢aTrf0d tyc1lD*￿rt8wh@nrespOnthngto7￿￿0en A*partofth15worK pieth•ifk•ndneOnotalwulpm￿twaSaI&ow￿￿1￿dandtnh0n￿￿srrenqrhenIng8tsnrfc¢ delivtryandfurtherlm(¥o￿Trqth¢quJl￿YofCartw0y1dedto￿VuNpr pbtlent& TAAS remained commltted to f06t•dn9 cO￿abOratiVe leamlng acrom fi•19hbwrkng workiTrJ cl¢x•ty Ith other Griti¢al ¢are provldar$ Ind organlsatlon& TAAS hosted • *rl•s of sur9KJI tialnlrwJ ¢*tys I0￿Jg?￿ on h1gh-acuity. low-oc¢urrence IHALOI proceduresthat ¢rith¢al care team moy encounter in thefldd These $88$lonswere condu¢t&lln partnerJhlpw1thCo4￿tryU￿1¥￿.%¥ho5vathYo￿4d fxfiftie5ha¥esg)lfitantty On￿ar￿$dtherea1[$m1ndId•l1tyQfthIBThtrOIhIng$eenwI￿weTwUkY￿knt0p1￿￿r•cW￿CAWsIr￿El1wthS tocovtntry UnIver5￿Y fv)rth•v8•olth•lrathan¢od ra￿litIE Th• AlrAmbulance Servlc• l Annual Report 202S Pag0 171 Chairman's Statement Chief Executive Report Independent Auditors Report Financial Statements Annual Rgp(xt Continuing TAAS, cornmitment to hi9h-tidelity trainiruwo at0￿rea two fithY,Stattrof-thtrartmènikin5 tosupport HALO pr0ceolureeolucation.ThB5ei￿1V(lea ¥econd ￿U$¢[tati￿*thtststotOMy￿an1kffiand a resuscitati¥ehy5terotomymanikin.thelatterspecTfiGallydesignedforobstetrictmtrgtn¢ytraifbing.These additlonsfurthe¢enhanceTAAS'ab111tytodell¥errealistlc. hands-onlearniw experienGesforcriticalcar8 t$am& ThlscommltmÈntwasfurtherenhènced by thelntrcéuctionofa new r0letlinicalTrainingoif￿8 whois plvotal Sn dellverfngtheeducatlon pro9rèmmeaerosstheellnical team. rwewanol refino EMAS'thsp*ch pollcy. ThiscolLib)rati¥e worK undertaken wlth EMAS dispatch teaffl$ and regi0nolprelw)spital(xitl¢al¢a￿ pr￿￿derIalM￿jtoensureth￿tlIi$polChpr0cesSeS remainefficienL re5r￿s7¥4 and¢linicallyappropriate. In parAllel. TAAS eontrfbuted to the recruitfflBnt process for the Enhanced Critrcal Care De$L Thls In￿l¥ement torn￿￿ part of a wider elfort to increax W￿￿The$S of pie h05Pital critical care acro$$ the regionandto highM¢Jhtthevltsl roleTAAS playsinrtunitytts ensurethe2026 strategy isfully preparedforlmplementatiornreinforcingTAAS'cornmitrnenttotQfward- thlnklnq and operatlonal excellence. TAAS plahEd an active role in the Air Ambulan￿ UK IAAUKI committee* work. Contrtbudng to the development ￿ the AAUK AnDual Conferenrn This Trnvolvement Included helping to shope the Overall struetureofthee¥eni and participatipginthewcwof n¢mlfièdons fortheawarols programme.ThrOugh thls Collhboradve effort sewal chnical 5es5ions wew id*￿￿ed that hlghllght the essential work undertakffn by pre hospital providers supporting the orKJDiN9 ¢Jrive to promote and elevate cliDical Our annual Consensus Day was also hosted thls Is an for cllTrlcal team rnernbe￿ ThE *Jay was dedl¢ated to sharlng strateg1¢ plan& gathert￿ feedba¢K and reflnlng thelr As part of they vwdrBals0 GOnsideriDg prioritiesfor2026whilBadjvsting existTrng pIansacc￿thn9 In additson. TAAS nominated several of its ¢linlcians and sUp￿rt team mernbers for re¢ognltyon wlthln awards pro9rèmme. hi9hlighting the exceptional GontritxJtion$ thty ¢ontlnue to make in a(Jwancing p6tient¢areènd Strengthenln9 prehospital wactice. Throughout 2025. TAAS introduced a range of new patient treatments UDolerscoring the oryani￿tionS continued commitmenttoclinicAlinnovation.Keydevelopmentsincludedtheexpansionolthemethcines formulary lor both doctors and Crtt1eal Care Pèramedlcs ICCPS). enhancing the $￿pe of interventions *Jellverable at thescene. In parallel. se¥eral ne*clinleal rxocedureswere Implemented. each designed to strengthen pre hospltal ca￿and furtherlmpriwepatlertoutcome Thtr8ÈdÈvelopments marka slgnili¢ant progro851on inth*s*r¥lc¥5elini¢al ¢apablllty.ThelntrodvCtlonof pre hospital regional anaesthesia. now delivered byTAAS'clinical tsam. representsa majOrenha[￿8t￿ent in the management of pain at the scen& Thi5 advancement enables chDiciaThsto prowde more effective anèlgesia in the field and deliver high quality care at the point of neeprehospltsl ￿$earth3nd Inrthadon. The organisation workgd closely with Eost Mi(Ilands Amlwkinro SEnrice IEMASI through(Mrt 202S to Th• Alr Ambulanee Setvlee l Annual Report 2025 Pagè 18 1 Chairman's Statement Chief Executlve¥ Report Independent Avditols Rewrt Financial Statements Annual Rep¢xt NATIONAL CHILDREN'S AIR AMBULANCE OPERATIONAL REPORT TAAS have worked w¥th SItsa￿ Hdlcopters LIM￿ell In 2025. operatlng tv￿ AgUStaWe5tland 169 IAIM691 hel)eA)pt￿ This inclu¢Jed full and c¢>mplefjon of medlcal Intertor upgrades to both air¢rafL prO￿dIrv4 a be¥K4keinteriorfor£liDician5to proyi(*outstsndlng ¢argto podentsdurfngtran¥fer$. In 202S NCAA completed 157crftk41 m1551ons acrossthe country wpporting 11 NHS paediatriognd ngotsatsl sperialist transsk*t teams In their lrfesavlng worL NCAA ha5 completed 1.241 mi$$ions sirt¢e serw¢os On the Jst Mar¢h 2025. wr G-NICV htheopter Completed the T,OOOth pattent transfer. Transferrlng a chlld fTOrn Leicester Royal Infirmary to NewcastlE F￿mart Hospltsl ￿th COMET [ChIld￿Th* Medleal Emergency TranwrtTeam). Theioumeyfrotn Leicesterto Nfwcastltttsokjv$t Ihr 12mins by air ¢ompa¢¢ to 4hrs 5mlns tryroad, precloustlmelorthe pthTrL l)JrlOOthmiwonoftheyearwascompletedonthe22ndAuqust2025.transferringapatientfromSouthampton General H05Pital to Newcastle F￿MaTh Ho¥pltsl ￿th the $pectallst Extra Corporeal Membrane Oxygenation (ECMOlteam. Thetran5ferwastirneGribcalasth8 poyont W6son8Xtra¢orptsreèlllfe support.Thelou¥neyfrom SouthamptontoNewGistletwk jwtlhr57mins Wairwtnpar8¢toalen9thy6hts30min$byroad,èSi9nlNcant tim*Sa￿Th9 fow the ￿tlefiL Intotsl N¢AAsa￿￿la￿1aI 0fo¥*r248hrsfcroursmaMestrr￿tTr￿lN￿r6blOpa￿￿nts¢￿Mpar￿dttsroadlransfer, arKlatotslof ow646hrsof NHSellnlcfan tIMeL￿￿paredto road transfer. Of the IS7 missions completed. /48 used the bespoke Ineubator Systems in transfers. Since launching thotso IneubatorsinDecember2ts22.tl*ycontinugtornakoaprofounddlfferencelnlmprovingneonatalcare.enabliDg NCAA to safely transrtht the most yulnerable babies to whgr¢ they need to be. NCAA is the first ond only hghcoptsrwcY4k*rln En9LindtosupporttheNHSwtha helicopter¢srtili¢dlneubatoi trènsport wem. 2025 also sjw a $i9nili¢ant achIe￿ient wlth the 500th mi55ion milesttsne tsf ¢•rr￿ng a parent C>nboard- t￿￿ng(emInder0fhowt￿¢hOrityvè1Ue$the¥*ta7b0nd btheenfarniliesaDolthBir¢hildren.8spe¢lallydurfng challe￿￿tIme& Th•AlrAmbulance Service l Annual Report 2025 Page19 | Chairman's statement Chief Executive's ReFKprt Independent Audltors Report Financlal Statements Anntsal Rep¢xt FINANCIAL REVIEW Flnon¢lal Posltlaft We receive no go¥ernmerit support. We rety 5018ly on donatKsn& lega¢ie& gwi¥tyshlp. fUnd¢al￿n9 event9andourretalloperation5.webehevethisenablesustoer￿Tethatweputt￿r*eIts0ttr￿FTrat*Nt* topof ourentlredec191on rnaklThg. We flnlsh the year In a strong and better than antlcipated Fosition. fO￿ow)ng the impact of wwjer rrk3tket pressures asseen ￿ro$S the vlholecharttysector. The£2.2m proft accuratety refieGts the impactolourthreo yearstrategicplan, ènd bolstersourfeser¥esto help sUppOrtthestrat￿odeVel0pMe￿t tha* tStocome. Forlneome,we benefitted froman1ncredlble responselrom OuiSUPPOrters.enabllngustOgenerateatota1£38 million In¢omefoftheyeor.Thi$i$an in¢rta*ofÉl.8mthgnili¢antydrfventsyanln¢reèseofE28mWues a step dc¥wn in retail income of ￿.4rn due to a focus on increased profrtabiltty. EMperKliturFde¢Tea*d In th& year by É1.8m whichwassigDificaDtly¥urtsS. Energyec>nsumpiion usea iocalculate emissioDs Ikwhl 2.254,109 2,580.737 Gasconsumption ￿n￿lTranspOrt Purthasedelectrfclty 59.73 53.28 273.54 35&85 203.08 214.82 &3&3S 623.95 Btssfnesstra¥el InemploYe￿Wr￿dVehlcIe${greY IbBBtldi￿105￿￿01uNtsrilY 28.00 Theorganisationoperate5airarnbubnceseNcBSWO a ¢Ontroctrd a￿a￿on Frfo￿derundera managed serwce ag¥eemenL Aireraft bjel combustion emis5Trons are urKier the 0￿ratIonal control of theavlatlon provlde¥ and aretherefo￿e￿clUdedtrOM theieporting requirernenL Thethosen inten5ityrnea5urem8rt ratioi5ttytslgrosS ÈmlsslDnsln C02eperno.ofemployee5. Financlal In8twm8nts The¢F*irityt*oes notu*complex financial instrur￿nts a5 Partof itsfinancial ri9kmèna9ement. Itls expose(I totheusual ¢redit rfskandcash Ilowriskènd mantye5thistbrough¢r*Jit¢Ofitrol pro¢edure& Thetrustee5 do DOtC005i(leranyothW riskgattaehln9tothe useof financlèl instrumentsto betnaten4lttsangssessment ol Its financial p05itson of pertortnan¢e.TheCompanles{MisCe￿aneous Rep)rknngl Regulations 2018 reouires large cOm￿nIeSt01nC1u￿E1JetsiI in thBirantwal r8ptytdescrlblng howtheTrustees ha¥e had regarilto matt8rs¥8t Iyrtin seetlon 172 0}oltheCompaniesAct2006.ThB TTU$teesstatementls setout below. The AirAmbuTanceSeThlce l Annual Rer>ort 2025 Pag0 21 1 Chalmi•n ststèment Chief Executi4* Report 1ndep￿ftt Audftots Roport Financial ststements TheiruStW5ha¥ea¢t*11nthewtywhkhthtyconsider.iTr•xKll•thg￿xl￿ll￿s1x￿￿o1th0t*tr*lty1• Tl* t)wrlty has acr*55 to and ￿nI5￿ the fundj kn￿¢j for The N•tIty￿1 Chlldren¥ Alr Ambulance Servic¢lotttry.Thesefundsare heldiDa separatebankaccountfrom th*funds ofthe chartty.TheCharfty reg15tefeO wlth theGambllrv4 c0fflm155fj(￿ to tvn thlslottery ￿th day-l￿daY operat1ons btlng under t￿£￿j￿r07 olathirf P•ty. Fth1sare releJE•d tothoCh•rfty In xeordonc•wlth •¢counts Gubmittod by thethird pmty. {aIr￿st othermotter*k. Wlth a hlghly eommfft•d 4Y•dk•r•d the chaiitable grvup t•k¢s Pr￿ In IIEtening Pbln¢lpal Rl8k8and Un¢ertainties Th• 804rd and Joint Leaderthp Team ha¥e estatsllshed a Bojrd Assurance Framework whlch Identlfies tho ￿rr*nI Stwateglc Risks and ¥JhTr¢h is revlth¥ed at all monthly EX*¢￿1}}• L￿dershIp T•am meeiings J4uartwty Jolnt LeadershipT8am. Btsarfj and Tw5tee M￿￿n9* Eèch PdrKlpal Rlsk IB man&g611 Dy the •pprotytste¢thnmltteeandoveranawtsrt(*Isw￿￿¢yQdtoth•AU(I1t •nd Rl* Commltte•. We hove a wcess In placewhereby tyP$Ot rac•d ty theCh•rtty ha¥• be•n Consider ••tothoIrwoba￿1ttY￿)￿ measuresand Strat•￿8 haw documart•d and Impl•rr*nted to ••l*AththethntffiBd rt8kSty) DOthanlndWualandov*an WSAII •¢t1￿*#T+￿aw￿11Dth•c￿È•xt olthe*• rfsksanda sumrnarisedviwi Dttl*¢harttys rbk3are shown b•low. operafjon t relatlon*hlpwlthth•communlty A* è charfty. publ1¢ ￿n•￿t l• at thv hOOrt of all we do. The Chlef Executlveb report tcwhqr wlth th• Oblethves&Actlwltlei and Achlevernonts& Perftyft¥ficege¢tionoftheTrustees'Annual R•portgl¥•8lull detèllsotth¢lmpa¢tclouroyratlons. M•lntsinlng a r•putatlonlor hlgh •tandèrds Asè fundralsln9eharlty, we are compllant wlth tho Coabof c￿d￿ct bssued tytheFundratslnq R•4ul•tor and takg ¢Ur rè$pon91b111lles for exemplarycllni¢al cart ¥try wSws)y. Furtt*r d￿1 caft bef￿jnd IntrM¥ ryinl¢al and 0￿ra￿O￿al Rewrt IncludedwthiD t￿Trustee¥.￿￿rL The r'sk Is tnat ¥ve don't nave we hèvea robv5t bud9etlng process. alongsi(Je qL￿rIe[l¥ loiecasiino reser￿e3 npld. iegeives rx)Iltyand KPlsallgDed to¥tr•t•9y. W•alsou5e this pri*wlnourTradlry 5vbsIdl•ry.w•ha￿e Ourpaople thjrtng 202S, *Y•mployed 422 mernkn ol •tèlland ft I$￿ty thrrwh the corri￿ effortolow*t *ncouro90S th8 in¥ol¥emoni d ampl￿¢•5 mean5 01 rewlar emK*e meetir*s and ew>3•rnnt in 4Jec151on maklrHJ pro¢•ws ih•t Impact on them dIreCt￿ Further ¢Jetsi15 th•c￿*￿t bomd mertlNJ$•n¢external organ15atSoh& re¥lvAfofstratW¢ KH&StanTrJlnln inve#￿in system4 peopl•.uplt•l asset Th•r*kl$thotwelknnh￿t￿ Werogui4rty oui performan￿ond relatbn toa￿ pers¢nnel Matt￿l￿GILmJh19'. . rt9klsth0ttalwt￿lsl￿1f1rx* Rttrultmen¢appralsJl andtr•lnlng proc•sae . ¥dufit*¥arnnotattrxted. foTstsffaTrregularfy re￿eWQd.w• b•n¢h￿Ik ourpayand benefitsacro$$the8•Ctor. comp8tSty¥vmarkeL poliLlfa￿j7nhne¥wlth tm E￿￿1￿￿ffinè￿aI statements Ir￿￿tter1t0mI￿IsIbf￿0nIn0the￿ jurisOi¢tion 4¢ sof¥￿0•￿01￿￿Tru5to￿5l5w￿rnatth9￿th1srnwtl￿4p￿•￿Y.. . Thw•1•￿￿1*Wtwd1t1ThfOrmknn of*thi¢h th8tharttabl•cornpany*audltorl$unaware,' . Th•truIt￿h￿tO￿￿amstep$thOtthry0Uglrtt0hè¥*t&kent0rn￿kothaMl•IS￿o￿Wl&ofbnYre10vart audltlntormotlor44ThYto•stab115hthattheauditLwitsawarnotthatlnformatlon. Th• 8o•r(l ol Tntyt••J Trusteea, Annual Res￿ and Stratswc R•port contalned wlthln thosÈ fin)r￿al 6tht•NWbtson 3rdJune2026.ar￿I8b￿n8lI ot)itsbehalf ty. )f•w8obA1lI￿fi CBE DL CWrotTN•t• Th• Alr Ambulance Servlce l Annual ReFX*rt 2025 ag•241 Chairman's Statement Chlef Executlve Report TnJ8tee Annual R8FMYt Fln•n¢lal ststements Audltorn Rwrt INDEPENDENT AUDITORS REPORT Oplnlon W•hovvaudlttd th8 ￿naT￿la7 staternentsotThoAlr Amtyukinc•SeThk8(Xhechèritablecompany)and rts iub$ldlaryl*hegroup'lfortli8yearended31 Decemt*r2025whkhcomprtS8lh8ConsolidatedStat•M of Financlèl A¢tlvltles ConsolidatBd Bolanee Sheet. Chlrttatyie Company èalarKF Consolldated Bu•d OA ltr• h•W not Id•nttfbBd rnotww urwtaintleg relatlTh9 to statementol Cash Rows and DQtestoth¥linanclal *tatement$. lfi¢)udln9sigDificant acc(￿￿tiN￿ polkle The flnanclil roportlng 1raMtt￿rkthat ha¥ tyeèn applled ID tbelr pr•parètlon Is appb"cable LJwaThJ unlted4 includlw Finar*l41 A￿Or￿￿j Stsn(Jar4J 102 The Financial forisl 8t•nd•rd •ppllcJbl•ln th& UKand Rep￿lIC oiirnl¥KI IUnlt•d A(*￿￿*￿j pr￿tIes1. In •uthiSty thB lIr￿nCIal stateThyrt* Yrt haN* cOr￿l￿ded that th• trust••* use of the golng bul¥ ol Inouroplnlonth•Il￿n￿•15tat*i* Hb¥e b*) prop•ty prepar*J In ihi*•d IThtheEn￿tét¥,•nnU￿l OfherthaDU*finarwi ststementsand OUfaudi¢or* reportthereon. Our op1nlon actlctr. ar onth• nThandJl *a￿le￿tr(lo￿s not L￿r￿￿ oti*rinfomwdgn aTrd, excepttotheextent0theTh￿seexp1IC1tIY #at•Othour r•prt¥4ydO hrtoxpressanyfoTmofaBwranc•wnC￿Il0nthor0On. In c¢)nnectlon wlth (wraydSt ofthe firwnciai ststement* ¢iJr respoD51bllltyls to theother Inft>rmatloD Jné. Ba•l•foroplnlo h) Ooln9 sa conslder whother othei information is rDJt•rtally InconslsteDt wlth the flnanclal statements or Our*howI￿obta1n•di￿theèudIt0r0ther1¥¢seaPpearstQb0mltQ￿al1y mljstated. Ilw*ixdance with Intern•tknal St•nd•rd• orb IUW {LSA8 {UK)) knconsi¥ten¢les or opparent rnatertèl mlsstètements we ar? r•qulrod tQ *Yetefmine wTrl*her there 18 a matertol and appWutyl• law. C*Jr r•¥wn¥bflftles uThSer tl¥)s& st•n¢•￿3 we lurtw d•sulbed in th8 AWJl￿ m155tstem*)t lfi the finaDci•I 5tatgmÈnts Or è mèterfal rnls5tat•rn•nt ￿ thtt other InformatioTh It. based on the rnspon51bllltte& tor the audlt oftheflnanelal ststernents¥8rtlonol our r•porL Weare Ind•penLlent otthè *￿rk ￿ have p*ts¥m¢d, VKI concluoe tw ts a rn)terfal rn1$•Iat•rn￿ of thls othèr IrrformthN ar• gr¢Uplnaccordan¢e￿ththeethicI1r8Ov7r￿ents￿at0rere10¥OrI1t0QUIaU￿ltOltho￿lrta￿c1a1StsterneI reoulrnd to report th•t f•¢t ID the VK, Includlno tThe FRCS Ethlcal StsrKlard. and we hove lulfilled oui other8th*41 respWtslbl￿ties I accordance ￿t￿ the50 r8qvliements. We beliove that the audlt e¥id•n¢• ha¥Y Obts1￿ Is 9ufiicbent weho￿ne￿il￿￿r•Vtkn￿￿l*)aT and appr0prl4t•topro￿dea ba$l$ftyoui opinKrf Th•AlrAmbulan¢•S•r¥lce l Annual Report 2025 Pap251 Chairman's Chief Executive's Statement Report Trustees' Annual Report ## **Independent Auditors Report** Financial Statements ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion based on the work undertaken in the course of our audit - The information given in the trustees' report, which includes the directors' report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - The strategic report and the directors' report included within the trustees' report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report included within the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - Adequate accounting records have not been kept by the parent charitable company; or - The parent charitable company's financial statements are not in agreement with the accounting records and returns; or - Certain disclosures of directors' remuneration specified by law are not made; or - We have not received all the information and explanations we require for our audit. ## **Responsibilities of Trustees** As explained more fully in the Trustees' responsibilities statement set out on page 24, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis 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. **The Air Ambulance Service** I Annual Report 2025 Chairman's statemènt Chief Exacutive¥ ReFX)rt Trustee Annual Report Indo￿ndent Audltors Report Flnanclal Statements AuthtoVsre5ponsibli Itiesfortheauditofthefinan¢i4istat*ments r obSeth¥*s are to obtain reè50nable assurance aL¥)ut whetherthe linancial ststement$ &$ a wholtrars fro fvom material mlsstatemÈnL whether due to fraud or error. ènd to Issue an auditor¥ report that includes our opiniorl Rea50n•ble assuran¢8 1$ a hi9h lek*l of assurance, but Is not a 9uarantee thèt an audlt coTrducted In accordarKe wth ISAS IUK) wrill alwoys dete¢t ty material misstatement when It exlstk M1sstatements can arf5e rTom fraud or error arKS are con5i(lered mateTi•I if. iniliviilualty or in the aggwate. they Could reaatsnably be expectedtoinflwrKetheecorK>micdecisionsof uSÈrStakenon the bèSiSOttheseNnanclal statements. L￿71S oftheexteDt towhiGhtheauL17tWas consiL1ered ¢apable of detecttng iTregvlariUes. in¢ludlng fraud and r￿n-C(>rnp1lanCe laws and regulations are set out below. A furthEr #escription tsf our re$pon$ibilities tor theauoit of thefinèndal statementsis located onthe Financial Rewrknng Council¥ web51te at". www.frc.org.ukl aUdit0￿r¢S￿l¥t￿l1t1¢&ThIs¢JeSQ1ptlonfornl$partolourauthtCrt reporL Extenttowh?ehtheaudltwaseonslderedcapabl•of d8t8Ctlng INegularltle4 Includlng fvaucl Irregulaiitie% inclvLling fraud. are in*ance5 ol non-coM￿lance ¥Ath laws and ¥egulatlon& We Identlfied and assessed the risks of material rnisstatement of thE financial *atements from ifre9ularttie4 whether due to fraud oyerror. disDJssed these between ouraudtttearn rDemtJer* we thort Jesigned oné performed audlt ocedures responsl¥etothose risks. includiftgobtaining authtewLleDce5ufficient and8pprDPriateto prov1d basis torouropinion. WeobtaiDedanunder5tarKhngotth*￿1a￿d rewlatwfrèmeMorkswlthln wh1chthech0rfta￿eC0rnpa￿yand groupoperatesf0oj5ingontl￿5e7aw&￿￿dTegV10t￿0nSthjth0vÈadireCtefteCt0nthedeterrn￿natIonOf matertal amountsandths¢losuresinthefinanGial 5tatement&ThElawsarldreguladonswe¢onslderedlnthlscontextwere theComwnle5Act2006twher¥AththeCharibesSORPIFRSI02)2019.w*a*$O&￿thereqUIredcOmp1laTrce withtheselawsènd regU￿￿on&aspart0f our audit proce(lure50ntherelotedlinèncial $tstemontit¢m AKAmtsd Inadditro￿￿COn￿deredprOvIs10nSototherIbWsandregUIa￿nSlhatuQn0tha￿0￿4Ire¢te11ettOThthet1ftanelaI stateMent5bUt￿mphan¢eW1thWhIChrnkJhtbe￿ndarnenta11OtheCharFtab7eCOrnPany?an￿th69roup,saty11ItY to operate orto avoid a rn8terial per￿lty- We also eonsldered the opportunitie5 anol iDcentive5 that rnay exist wfthl¢) the chèritable company arKStlkp groupfor fraud. The law5 and regulètlonswe considered in tttis context r* Genttal Data Protection Regulation IGDPRI. anti-fraud. Care Quallty Commlsslon ICWI. brfbery and corTUPtion ￿￿sLati￿n, healthaThlsafetyiegislètion.toxation Iwslation andempltyymentleolslatlon. Aud6tingstsndartlslimitth*f8ouirÈdaudttprocedurestoidentifynon-comgliancevrithth8s¢law$andregulètlon3 toeTr4ulryolth8Trustes5ar*J¢)thef man¥ment￿d inspectk)nofreguhtoryandlegai¢orre¥potsdÈnee,Ifany. L._. The AlrAmbulance Service l Annual Rewrt 2025 Page 271 ## Chairman's Chief Executive's Statement Report Trustees' Annual Report ## **Independent Auditors Report** Financial Statements We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of legacy income, grant income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, designing and performing audit procedures over grant income, designing and performing audit procedures over legacy income, and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards 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 our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## **GuyBiggin** Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 4th Floor St James House St James Square Cheltenham GL50 3PR Date: 13 June 2026 **The Air Ambulance Service** I Annual Report 2025 **Page28** I The Alr Ambulance Servlce l Annual Report 2025 Page 29 | Chairman's Statement Chief Executive's Report Truste Annual Report Independent Auditors Report inanelal Stètements FOR THE YEAR ENDED310ECEMBER 20 CONSOLIDATED STATEMENT OF FINANCIALACTIVITIES IIDcorporating an InwnEènd E￿ndItuteAlXout)i) Note Reslrictea Futtdl 2025 Tota I'ooo 000 I'oo,) omefrom9eneratedfvnd8 Donatlofisdnd le9dCies Othertrading octivlbcs Investment income Toial Income Il539 51 1.024 34.114 4570 IS,109 21.551 1.024 37.684 11.572 23,069 3.570 55,902 e65tsof ra151ng fvnd5 Costs of genefètin9 voluntary incorne Commerclaltradlng ¢Peratlonsènd othereo#g 6.62S 14.392 6.625 14.392 7.449 Operaiion of Air Ambulances Totsiexpendlture NetinGome before gain5 on Investments NetgaFn onfixed assetlnvestments Translerbetween funds Netfjn¢0mtbeforgta¥a￿O Tayation credit Ntt movementin funds 11.498 3.238 3238 14.736 35.753 1,931 173 14.020 37,585 173 395 (6) 326 1778 49 1104 49 2.153 (1,2881 326 (1.2881 Total Funds brought forvjard at l January Totsi Funds¢arrf8Oforwardat31 (*cembeT 36.842 255 37 097 39.250 38.385 37.097 Thestatement of flnanclalathvmeslncludesallgalnsandlosses reco9nlsedlntheyear. All Ineomeand expenses aredertved from contlnuln9acUvltle The noteson pages 35to S5forn) partoftThesennar)dalstètement TheAlrAmlJulanee Senrtce l Annual Report 2025 Page 301 Chairmèn's Statement Chief Executive Report Twstee Annual Report Independent Auditors Report Flnan¢lal Statements AS AT31 DECEMBER 2025 CONSOLIDATED BALANCE SHEET COMPANYNVMBER..04845WS Note ?,312 13,410 15.722 1,848 13.237 15.085 Investment5 Stocks Debtors Cash èt bankandin hand 200 7.258 Tr8￿92 26.OSO 0.￿5) 24.255 39.9 C72 39.250 5,499 18.Tr8 24,529 11.749} 22.780 37.865 17681 37.097 Creditors.. Aryv)uftt5 falling duewlthlnonewr Netcurrent a5set5 Total asset¥ les5 ¢urrtrnt liabl7￿e5 provlslonsforliabs1ikne5 Net assets 13 14 Unrestrleted funcls Qefieral lunds Investment rtrv6luadon reserve Des1gnated fun¢J5 Re*rirte¢lfunds Total funtified arfK>unt to refi￿t poteniial vadatlons In setllement value$ estate3amlnlstrètSoneosis and rtskof a beingconteste(J. ,/ii/ri Tradlngoutiats Reta115aleSareinGlud￿Jinth￿peri£Vj in WhiChthe￿Ie75l￿itiate￿. The Alr Ambulance SeThlce l Annual Report 2025 Pag• 361 > Independent **Financial** > Auditors Report **Statements** Chairman's Statement Chief Executive's Report Trustees' Annual Report ## **Structure of funds** **The Air Ambulance Service** I Annual Report 2025 Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified in the accounts as a restricted fund. Funds where the capital is held to generate 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 earmark for set purposes are designated funds. ## **Expenditure** All expenditure is accounted for on an accruals basis. All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. Expenditure is matched against the restricted or unrestricted fu ndsto which it relates. Support costs directly attributable to an activity are allocated to that activity. Other costs that cannot be directly attributed are allocated against the categories based on management's estimate of usage of those services. ## **a) Costs of raising funds** The costs of generating funds are the costs associated with generating income through fund raising and other activities, including the costs of the commercial trading operations. ## **b) Charitable activities** The trustees consider that there is only one charitable activity, that of the provision of an air ambulance service. ## **c) Governance costs** These are the costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. The costs include external audit and costs associated with constitutional and statutory requirements e.g. the cost of trustee meetings and preparing statutory accounts. ## **Fixed assets** ## **Capitalisation** All assets falling into the following categories are capitalised. - i) Tangible assets which are capable of being used for more than one year and have a cost equal to or greater than £500, (£200 for The Air Ambulance Service Trading Limited) - ii) Groups of tangible fixed assets which are interdependent or would normally be provided or replaced as a group with a total value in excess of £5,000 and an individual value of £500 or more, (£200 for The Air Ambulance Service Trading Limited) **Page37** I · '> Chairman's Statefflént Chief Executives Rewrt Trustees. Annual Report Independent Auditors Report Finan¢ial Statements Tanglblo Flxe(l A8setsand Dopr•Glatlon Fixed assets are recorded at C05t or. In the ¢a5tr of asset$ wheie assets have been donèted to tt* group. at valvatioDatthetimeofacqvi5ition. Dppreciationi$prwdsdonalltanglblefixedassetsexclut8lrKJfteehoklland. at ratescalculateo towrite ottthewst. les¥ sstimated rÈSiduèl Value. base¢Yon values pr￿al￿1￿4atthe¢jètsof a￿ul51t10￿. of each asset. on a straight line basis. o¥¢ritstxpe¢ied usefulllfe.asfollow&' Flxture5and Ilttlngs Med5cal eouipment Office eoulpmènt Motor vehi¢les Cotnputere4uipmtnt Theholdingvalueofasset5iSregularlyreviewedforimpairrneDtandwheredeemedappropriate￿5et58￿￿[tten down. No (Jepreciation ischargedon freehold land or assets underthecourse or¢￿strUct￿[L Depre¢iatloni$ charged wheDa8sets becomeiD us& 20%orlifeof1&75e.whicheveriSsl￿er 25% 33% xedA5Srtinvestmerrt5 •J Invesiments are a Iorm of baslc finanelal 1Trstwm￿t. are initièlly recwise(J at their tran5aCtKo Val￿ arnl Subsequently measured at thetr lair value as at the balanee sheet date using tt* closiro market value. Gains losses arislng ffi dl$po$als ènd w4luat5ttn thrwhout theyearare lficluded In the Statement of Financial Actiwtlès All in¥e5tmert irKornei¥ treatedasunrBStriGted. Stock Stockconslstsofrwrchased goods for¥esaleandltemsto begi￿t0¥07uTrteerSandpeop1ewhOpartlCLpateIn fvnJra1$ingev￿ts.stOcksarev37￿eJ4tthelty￿tttsf costandnetrealisablevalue.aftermakiThoduealk)war￿fOT obsoleteandslowmowng ittms.ThevalutrolgooJ$donatedforSaleinthtgr￿p*Chèr￿tyst￿)pStsr￿tIThdUded In 5tocLlnstea¢. theyar8accounte¢ forasinc0r￿0Intheper￿XI7ThWh7ChthoQ0cKI¥￿rfr¥okl. Det)tor8 Debtors are recognised initiallyattran$6¢tlon price. less any ImpalrmenL Short-term debto¥saiem&wred at thtrtrinsa¢tion pn¢e. a$ tTh*eir￿ of Uis¢ounlin9 is Immatertèl. Amountsconsldered uncollectablearewr6tten off impairm¢nt10sse$ afyre¢ogniseilintheStatement of FIftaf￿1èIAcdVht* Ca$h and ¢osh wuival*nts Cash isrepfesented bycashin hand anddeposrt5Wrth ftDanualinstituhonsrepaYalYewithOUt￿t￿llY0n notr• of not more than 24 hour% Cash equivalents are highly liqutd investment5 that mature in no more than three monthsf¢omihedateofaCoulsltlonandthata￿readlTrve0nvw￿ble1n￿kn￿wnaff￿￿ftts￿C&$hW7thins￿￿I￿ant riskof ¢hangein value. Th•AlrAmbulaneè S•nrfe• l Annual Report 2025 Pag• 381 Chairman's Statement Chief ExecuttveÈ Report Trustee5' Annual Report Independent Auditor5 Report Hnanclal Statements Flnan¢ial instruments The charltable company enter5 into only basic linan¢ial insttvmwt transaetkw eomplshw trade and ¢ther debtOrS.tiadeènd othercredTtor5. aD¢J ca5hatbank. Baslc tinaDcial assets and liabjlrtjt$ are Inrtially re¢ognlsed at tran5actknn wlr* arp subswntty measured atamorbsed cost.lessaDyimpairmtnt.wh*fyappll¢able_ preparingth¢5¢fin0r￿fi8I stat¢Tn*n￿th¢trUSte¢s hwernadethefollowing jud98ments'. Deterrnine whether leases eDtered into by the chafitable company either as a lessor or a lessee are owatiTrJ leases or finance The decisions depend on an assessment of wheiher the ri$ks and rewards of owr￿ship have been transferred from the lessor Or lessee On a lease-by-leose basi$ based on an evaluakn¢n Otthe twms afid ¢(4Klition$ of thtr arrangemtrrt5. and accordingly wttetherthe lease rWJUi￿4￿4$SeÈ li4bilityttsberecogni*uinthe5toternent of htKHncial PDSition. Credltoys an(1 provlslon5 Creditors ènd provislons are r￿nISed wherethe charrtab* ¢omp6nyh•S a prew)tO￿l9èIl0rlleSUll$ng fromopa$teventthatw111probablyresultinthetraDsferoffunOstoathir(5partyarKlthearrKXtntduetosethe the obligatTron can bE mtssu¢d orestlmat&g ￿liaNY. Cre(htors and prow5ioDsare n(Xr￿3ftyreC09nI$ed at theirsettletnent amountafterallowlng foranytradediscountsdue. Pwsion> A pro¥1$￿n is recogniseil when the ¢harltatsle company has a present legèl or ¢on$tru¢tiv& obligationosa rewltof o pastevent forwh￿h Tt15 probablethat anoutftowof re50urce5wII be required tosettlethe Ob1H￿tiOn ar* theamount can be reliabTry estrmated. If the effect 15 matefial. pro¥is1onsare determined Lry Lliscounting theexFecteLI future cash flow èt a rate that reflectsthetlmevalueol money andtherisksspeclficto thellablllty. Penslons V1h￿her4 Dreswtot>ligotionis pro)abltor ThOtreouiresjuLlgment.Thtrnatureandtypeofrisk5forthe5e prowsioTrsdifferan(J mat￿gernent￿IudgeMent7sappI7ed reqardingthenatu￿ and extentof obligations Ind￿ld1￿)if an outnowof resourcesis probable ornot. The charitable¢ompanyoperatesadefined (x>ntributionpension sCherrtfor￿￿0￿>TreasSetsdthe scheme are hele separatdy Irom thc&se of the Char￿atrAe company. Theanwal ContributiD[￿ payat)It aw¥ charged to the Statementol FTnanelal Actlvllle& Depreeiatk)n and ¥esidual value& The Trustees have reVIe￿*d the asset Ilves and assoclated res1dual values of all fixed asset classes. and in particular. the useful economic lifeand residual values of fixture$ andfittlfw)&ènd ha¥tr¢¢)ncluaed that aSSètli¥es rÈSidualvalues arèappropriate. Operatlng lea¥ts Operatinglease rentalsarechargeclt0thgstate￿￿nt0f FinancialActknllesonasiral9ht-lineba5isoverthe le6se ierm. Lease Incentivesarecharged ona 5traight-1ine basi$ob*rtheterm of tt*lea*. The a¢twl lives ot the asgets r85fjOual valut5 art a58t5*d annually and may vary dtrp8ndlng a nurnberoffactors.lnre-a55es5inga55etlive5.factor55ucha5technologicalinnovation. productlifecycles and maIntenan￿p￿oQ1arnMes aretaken Into aCCOunL. Residual value assessmentSCDnsldef Issues Sueh asfuturtmJrket¢ondTbons.theremaining lifeof thoassetand proie¢tsdi$posal values. Giftaid payment$rg¢glvabl8 The ￿reTht charity receives incomtr Irom its tracling $ubsfdlary under the gift aid Sch￿ whi(* a recognis¢dasdiStrlbut1ons toowners inequitywithTn rets1[￿8&ming$0f that¢cfftpèny. Atthe retx>rting Oate therevda$nolegal obllgation in torthecharitytorecewethis¢•ftaid pwnent. although pnor to the reporting date the trading subsTdlary tK)afd had in(Jicated its intentron to pay the toNable proftts iothe parent ehanty in respect of the reporbNJda There isfiotay chargein theyeordue tothe eX￿ption under24.14Aof FRS102. Relielisalltrrtd ¥thegFft aid paymentwTrll madetsythetrading $ub$idiaryt¢ pa￿tCOMpanywlth7￿9 monthsoftheyearend_ Judg8mentslnapplylngaccountlng poll¢lesand key sources of estlmatlon uncertainty The charitabl8 cotnpany makes estTmaies ènd assurnption5 concerning the hJtvr¢ Managemeni are èlso required to emer￿Selv￿gEt￿ent in the process of applwng the charitablecotnpan*8 arcouhting $￿t￿le Esiimates and judgements are continualty evaluèted ènd a￿ bas￿1 OD bistorical Other faetOrS.ineludlnoexpectatioDsoffutureevent$thatarebdk¥ediobereasonablevDolerthecir¢vmstar*e* •*AmbukJnce The Alr Ambulance Service | Annual Report 2025 Pagè 391 Chairman Statement Chief Exe¢utive¥ Report Trustees. Annual Report Independent Auditors Report Financlal Statements l DonJtions &LegJciÈsand Ot￿Ttra￿l￿g èctivltles Unre5LriCted Funds £'ooo Restricted Funds Total Funds 2025 £'ooo Jotal Fund5 2U',' É'ooo 000 Donations S.733 5.740 5,373 Lo¥ades &671 1853 8,524 5.679 Gr6nt$re¢*lvablo($¢¢note 31 135 845 S80 3,>70 15.TOg 11. Jf72 Chailty st￿p Incone 12,459 li.836 Lotteryincome 8,295 8.S94 Eventlncome 639 Other 158 21,5 23,069 Income donations aDol legaci05 En 2024 was É12m of which WA5 ottritwtoble to ufrtrkted ftsrtds and £4m to restricted fund% InCOry￿ from other trtdlng actmtfes In 2024 was £23.069m. 411 of whlch was attributabletounrestricte¢J fijnd Durlngtheyearthe¢harftyrecelvedE143.00012O2￿.Enfl)fr0MtheadM7niStrat0r5Of$p￿a￿"StAvlat￿)n$e￿￿ltd1￿Sett￿￿￿7t01ènIfft$QW￿¢7alffl relatingtobr&iGhofcontra¢L Therocdpthasbeen presentedwttiin Otherinwmg65 an ex¢gptionolitgm¢ueto ttssizeand non reeurring natur Atthe balancesheet date. the chartty had notifieil of a numb8ro1lwie¥wh￿h (kj nothwourlegw(ecognltlon poI￿A￿OrdirfflJty. noinryxDolws re¢o9nlsed but the estirnateLI ¥alueofthe$ele9aele$15 approximatelyE22m. The Alr Ambulance S¢rvi¢e l Annual Report 2025 Pa9¢ 40 1 Chairman's Statement Chlef Executives Report Independent Auditors Report Hnanclal Statements Annual Report 3. Materfal grants r•e•fjv￿ bycat890ry 2025 L OOD 2021. L OOI., S¢wr￿OfMateIIJ19raTr￿' ntyAirAmbulanceTrust Anonymous G8nerol ¢haritiesottneClty ofcoventry The Parker-Hannifin Foundatton AAUK Improvlng Outcome5 Fund TheGraceTtust Barratt Developments PLCChadtable Foundatlon The EBM CharitatsleTru5t 0'8rien ChètltableT¥ust NPTUK The HaroThÈadTrtJst TheSaintburyTrust Mi¢hael Guest Charftable Foundation MiVionair¢ Street Grant Fund DennisAlanYardy Charitabl8Trust RSM UKFoundatlon EFDTru5t DO￿￿ Wllson Foundatlon The Forbescharitsble Trust other f £lO.000 300 ioo 95 90 19 20 13 13 io io io io io io io 80 55 zo io 230 198 Investmgnt Income 000 2C24.' Oor. Bank interest 81)4 457 1,261 Investment Income 1,024 TheAirAmbulance Senrtce l Annual Report 2025 Page 41 Chairman's Chief Executive's Trustees' Independent **Financial** Statement Report Annual Report Auditors Report **Statements** ## **5. Expenditure expended by activity** |Fundraising Costs|Direct|2,894|-||-|2,894|2,700| |---|---|---|---|---|---|---|---| |Operations|Direct|-|-|13,023|-|13,023|12,577| |Marketing and PR|Direct|2,117|||-|2,117|3,341| |Trading Costs|Direct|-|13,919||-|13,919|15,642| |Depreciation|Direct|-|290|465|-|755|669| |Support costsallocated to activities|||||||| |Support Services|Hours|1,614||1,248|183|3,045|2,656| |||6,625|14,209|14,736|183|35,753|37,585| Operational and fundraising staff are allocated directly; management and administration are allocated on a time apportioned basis. The expenditure in 2024 was £37.585m of which £33.97lm was attributable to unrestricted funds and £3.614m to restricted funds. ## **6. Staff Costs** ||2025£"000|2024 £'000| |---|---|---| |Wages and salaries|11,686|11,656| |Social security costs|1,310|1,037| |Pension costs|461|433| |Redundancy and termination payments|78|176| ||13,535|13,302| During the year there were termination payments of £78,401 payable to 25 members of staff (2024: £176,355 to 27 members of staff). There was £Nil outstanding at the year-end. **The Air Ambulance Service** I Annual Report 2025 |Chairman's|Chief Executive's|Trustees'|Independent|**Financial**| |---|---|---|---|---| |Statement|Report|Annual Report|Auditors Report|**Statements**| ## 6. Staff Costs - continued The average number of employees during the year was as follows: ||2025 No.|2024 No.| |---|---|---| |Aviation Operations|37|39| |Fundraising|41|44| |Trading|282|332| |Governance & Volunteering|13|11| |Administration|44|43| |Strategic Projects|3|| ||422|469| ## **Pensions contributions** The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Annual contributions amounting to £460,761 (2024: £433,476) were charged to the Statement of Financial Activities during the year. At the balance sheet date, there were £80,354 outstanding contributions (2024: £75,039). ## Key management personnel remuneration In 2025 there were ten (FTE 10) members of the senior management team (2024: eight (FTE 5) members) and their aggregate remuneration in respect of qualifying services for the Group was: ||2025_cooo_|2024_cooo_| |---|---|---| |Remuneration receivable|879|553| |Social security costs|106|56| |Pension contributions|43|41| ||1,028|650| The increase in key management personnel costs compared with the prior year reflects the appointment of two additional key management roles and the fact that several individuals were only in post for part of the comparative period, resulting in a full year's cost being recognised in the current year. **Page43 I** **The Air Ambulance Service** I Annual Report 2025 Chairman* Statement Chief Executive's Report Trustees, Annual Report Independent Auditors Report Flnanclal Statèments &*alfCosts-¢onllnu Thenumberof hl9h paldemployeeswhose remvneration(excludirwpBDsioncontriiKthons)lortheygarftllwlthlnthefol1c￿nq bands¥JW 2C25 No. 2C24 Nc.. £140.000 to £149.999 El30,OOOto£l39.999 £120,OOOtoQ29.999 ÉIIO.OOOto£119.999 £IOO.OOOto £109.999 £90.OOOto £99.999 £80.000 toÉ89,999 £70.000 to £79.999 E60,000 to E69,999 12 13 7.Tw$tsosandconn¢¢tsd yr90ns'traThwtlons Tw$t¥WoXPÈfftg0s r01m￿lS0￿ Expenseswereln¢urredofq07712o2￿. É6,917) wererelmbjrsed to7Trusteesl2024..7)and re1atedtotrovdL￿t& Trustsegyemuneratlon Notru5tees received remunerètionduring theyearl20X. Thecharity pays an1nsurance premlumln respectofTrustees'aThdlndhAduaWliaknlityco¥er. The Alr Ambulance Sgrvl¢g l Annual Report 2025 page*￿ I Chairman's Statement Chbef Executtvds Report Indepgndgnt Audltors Rewrt Hnan¢lal Annual Report &N•tkneomv Thlilsstatedafter¢h•rg 001 Auditor¥ remuneration- audit 5erOce 35 766 Lwonth8po8al oltawblellxedaii•ii 22 17 8,744 Th• charttoblecompany, a$a re9lstered chartty. l$•x•mptlrcffitaM on In¢omÈarKI 9alnsfalllngwltM*t•eilon478o1U*TaxaB•￿2oloWs*tK#) 2S6olU*TwtbonofCh•ry•bi•O•lr•Art1992tothe•xiontthatth••• r••pplled tc ltscharitsbièoblects. Notaxchar9V$h•V••rtMr*wbthfjnth•¢h•ritat)be(J)mpany. ortobn It•m r•cogTrisedlJir￿t1y7NwUltYI*a7￿IOco￿$￿$n¢X￿¢￿rnw•￿r￿ve1r￿r￿Èx1#•lnqqu1tyn￿)Oelhw th•ftrtur•tsxdeductl0n¥a¥ailableforthemandth•diffgr•￿￿b*t¥ff￿tho￿tr¥akn5OII￿￿￿￿loSw￿rn¢aNlth￿linr0Jffttl￿lt￿￿ b•a•wMedlortaK DplorTodtaAl$d0t•rmln•duttlno taxrot8s•nd Uiwtsthat havebe8n enacted or sub$tantl¥dyenactermant io0% NatloTral Chlldren'5 AirArnbulanG¢ Llmlted CtrdiTrarysha Dormant 10 Central England AirAmbulance LiThite Heart of EnglandAirAml>ulanco Limitgd CompanyMrnltedty9uarantee tkbrmant nl Companyhrnitedtyguarants? Oormant nla TAA Servlce CorwyThrnitedtyguarantee (>orn)ant nla TheChlldren¥AlrAmbulance Coftynyhrnitedtyguarants Oorniont nla ofth8above¢ornpanlesareincorpoTateol in Eh9land&Wale TheAirAmbulaneo S•r¥lce l Annual Report 2025 Page 491 Chairman'$ statement Chief Executive Rèport Trustees. Annual Report Independent Auditors R8POrt Finènclal Statements 11.1 N•tln¢onwfromtradngactl¥ltlosotsub51dlary TheAirAmbulan¢oSer¥lceTradlThJ Limited,thewholtyownBd subsKioryOfthe¢harttylsèr£tailcharity(yrtlBLA￿MM)ryOtltslrad1rI4 resultslortheyearto 51 December2025afeshownbelow. Audite(l accounts will t)eliledvAththe Registrar of Companie 20LgJ L COO 20214 'OOPJ Turnover Costof sales Admlnlstratlon expense5 Other¢peradng lrt¢ome Operating profit Taxatlon ProNt aftertax RetaTrned eamiDgsatthe*)69lhnln9ofthewr ProAt for theyear Giftaid payment Retained eamingsattheend ofth&yeav 9.960 (7831 '.1,369 11.5901 111.Tr61 2,656 719 a464 728 49 719 1.314 719 11.6501 383 rp491 411 Fixed assets Currentassets Currentliabilitie5 ProviSionsforllablllt5eg Total net a55ets Aggregote 5harecapital and rw&er¥es 708 1,847 0.4TI) 16951 383 383 a314 0.9491 16431 1,411 The AlrAmbulan¢¢ S•r¥le• l Annual Report 2025 Page 501 Chairman's Statement Chief Executive Report Trusteeg Annual Report Independent Auditors Report Hnènclal Statoments 12.lJgbtor$ mDunts lalllng due wiinin one year Group 2025 Group 2034 £'ooo Company 3025 £'ooo 1.410 Company 202.1 E-00(I 978 Amountsdue fromqroup undertaking Tradedebtor5 other debtofg Prepaytnants Accru*dln¢ome VAT 46 105 18 16 1.461 5.518 T24 7258 997 S.$04 Isi &070 3.944 3.916 5.499 5,918 15.CredTtor5 Group 2025 Group 2024 t"OOD Company 3035 c.ooo Company ZD2. C'OOL 575 Trade creditors Taxation and sociol secvrity Othercredltors Accrua15 and ¢Jeter￿d Ineome VAT 234 S7 ?41 75 47 309 176 1,250 S09 203 1.749 i.79S PrOVtsloMforllabllltles 3a ?nceat l_a- 2025 Bdldnce dl 3, Dec ?O?- 710 49 727 Deferredtax {49) "ncc- Lif jl Dec 202.. Dildpidation Dpferrtré tsx 73 84 Provlslonshbvebeen rnad8forthedilapldaNonsand¢Jeferredts¥ usiNJa¥wmrthThs madefvom¥eviEwDgtl￿1￿a¥e*r*tymth￿￿r hlstorfral knv*ledgeandtaxcomputations The AlrAmbulanceServi¢• l Annual Rewrt 2025 Pago 51 1 Chairman's Statement Chief Executive Rewrt Trustees, Annual Report Independent Auditors Report Finan¢ial statements 16.R•sttlctsd Funds Balanceat l Jan ?025 F'nnn lThcome Expenditure Trafi5terS É'ooo Balance ai 31 Dec 202 £'ooo 58 E'OOO NCAA- Incvbator Children¥ AirAmbulanceSeMce DLRAA Servlee WNAA SeTVTCO LloydsCharitiesTrust AlrbasÈAppeal Variov$ OtherTru$t$and Foundadty)$ 473 1.203 {473) 0,205) 0.332) 126 300 95 195 136 &570 {230) 13238) 161 16) In-on'e alanee at 31 Dec 20￿LI Nc,., Chiléren'sAlr AmI￿10n¢e Se￿ce DLRAASer¥ice WNAA Sorw¢o Lloyd5 Charttte5Trust VariouS(XherTrustsand FoundatloThs 58 11591 .xn} (1.97SI 1.371 112 743 190 OOTI (3.614} 195 4126 255 Puwpvs8sof R8Strf¢t8d Fund The Children¥AirAmbulance-Incubatorwasanappeal launched to pUrch￿an incubatorfor NCAA beforeitWa6partofTAA& The CAAh2licopterl8aseappeal reprwsentshjnds r8c*i¥ed spÈ¢ifitaltytOwardsCAAl&)secost& The DLRAA Se￿)C￿appeal represerit5fvnds received spe¢ifi¢èllytowafdS DLRAAser¥fcecost TheWN1i4Se￿Ceappeal repre5entsfurK15 reGei¥ed$pe¢lfi¢anytoward$WNAAsw￿￿c0st* The HEMSseNceappeal represeDtsfuoLlsr8¢eivBd 5pe¢ili¢anyityAfar4$HEMSS￿c¢Co￿ The LloyolsCharitiesTru5t donate¢ a graDtto newdets¢hablestretcherforcJneofowchnical pJrtr*r6lE¥eliThaChiioren*HospltalorGreatOrmondStreBt Hospital). The NewAirbase appeal representsfuDds re¢èived sp8¢ili¢allyt￿afdstO￿￿[ng ofrthyalr b￿e Vanousothertrustsand foundatron5 have prowlyeo oonatlons forspeelfl¢restrf¢ted proiect& The AIT AmbulanceSorvl¢¢ l Annual Report 2025 Page 52 | Chairman Statement Chlef Executive Report Trustee Annual Re￿rt Independent Auditor5 Report Hnanclal Statements 16.D0slynat￿ Funds Bèlèrtce at I lan 2G?- Balanco at Sl Dcc 20;,: A1rDases 12 000 7.217 1437) 6.780 19.000 4.700 23.700 Othor$trateglc In¥estments 13631 ($80) Attheyeèrend thetrustee5 ha¥edesi9fy3tsdfund$of￿7rn{2O2￿. ￿7.5m) forfuturedeveloprr*ntof syst8m& Include(Jwth1ntheQthe¥¥tr&8gk In¥estmentsdeslgTratedfundsareamoUntsrda￿nytoo￿r￿OrS￿8tyty. 17.Unrestrfctsd Fund¥ General Funds 202S Investment reualuation reserve 2025 General Funds 2024 reserve 20" '?ce 000 01 Jdl?Udly Inetsme Expend1tu Galnson Investments rransfers 31 December S42 34.114 (X4661 32.776 (33,9711 173 395 16.194) 13.559 07,5001 18.105 1.410 1.237 Ceneral Funds Z025 Investment ￿alUa￿an reserve2025 GeDeTrl Fun¢5 2024 Investmtrrnt revaluatloi. reserve 20?.1 LJnrestricte¢ funds Ichèlityl 1.237 35 486 21,385 121,647) 842 Income Expendlture Gainson Investment¥ Transfers 24.104 ITd.4841 595 (6.1941 14148 07.5001 17.722 31 Do¢¢rnber Ihio 1.237 The Air Ambulance Servlce l Annual Report 2025 Page53 1 Chairman's statement Chlef Executive Report Trustees. Annual Report Independent Auditors Report Flnanclal ststemgllts I&Analyslsotnetassets b?￿een￿￿o5 2025 Fi%ed Assets 2025 Trlet Current Assets E'onn 2025 Total i. 000 2024 FTMèd Assets roDO 2024 Net CurreDt A5setS c'ooo L'OOO UnTestricted 8.665 6.304 14.969 15.085 4.257 25S 19.342 255 17,500 37,097 Restrfcted De$Trgnat8d 16. 23,700 17.500 22.012 14444 T&085 At 51 Décember202SthÈtharitablÈ9rOup had lulure mlnlmum lease payments undei non-caneellable operating lea5esa5 5etout bÈlow. 20250theriletll5 £'ooo 2024Land& BulldSng5 £'ooo 2024 Oth$rltem'_ C71QUP 202S Land& Buildinos £'ooo erI￿n91ea5eswh5Ctt explre.. l y8ar Botween I to Syoars Mcrethan 5years 606 1.716 6.618 14 14,304 4.164 20,398 671 106 20,910 617 Tl,483 2J2i'_pnc u gu-i Jifiths ?024 O'.hpr i-.0￿5 LODC 2024 0=hei i=em' E'OG thin l year Between I to Syears Morethan5year5 290 159 6.281 14.195 240 19,973 26.721 Sub9equent tothe￿arend,theChartty entered Intoa rthy I0￿r1easeèg1eernent for01fi￿ryem15eSA5the￿gTeWnSttt￿tys ¥i9nedatslhe balar￿ sheetdat¢ no liability0r¢omm￿Mernt hag been recognlsed inthwtse Nnanclalstatement&The ènnual leasecomm1tmerfisappr￿MètetyQT5* ex¢luthngserylcechJrye& The AlrAmbulance Senrtce l Annual Report 2025 Page 54 | ## Chairman's Statement Chief Executive's Report Trustees' Annual Report Independent **Financial** Auditors Report **Statements** ## 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 group for any VAT due by the representative member of the group. ## **21. Capital commitments** Contractual commitments for a store refurbishment contracted for but not provided in the financial statements amounted to £44,668 (2024: £nil). Contractual commitments for helicopter modifications and medical equipment contracted for but not provided in the financial statements amounted to £63,370 (2024: £153,488). ## **22. Membership** The Air Ambulance Service is incorporated under the Companies Act 2006 as a company limited by guarantee having no share capital. The liability of members to contribute towards the debts of the charity in the event of a deficit on winding up is limited to £1. ## 23. Controlling parties In the opinion of the trustees, given the structure of the charity, there is no ultimate controlling party. ## **24. Related party transactions** ## Transactions with Trustees **are** disclosed in note 7. During the year the charity received a donation of a trustee for £218. (2024: £50) There were no other related party transactions in the year (2024: none). During the year a management charge was made by The Air Ambulance Service to The Air Ambulance Service Trading Limited of £35,008 (2024: £11,154). At the end of the year Gift Aid of £835,751 (2024: £749,276) was payable by The Air Ambulance Service Limited to The Air Ambulance Services. The total year-end balance owed to The Air Ambulance Service was £1,409,839 (2024: £978,393). **The Air Ambulance Service** I Annual Report 2025 **Page SS** I THEAIR AMBULANCE SERVICE