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2023-09-30-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

hiowaa.org Company Number: 5244460 | Charity Number: 1106234

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Photography by Tim Wallace
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CONTENTS

11 Trustees’ Report

20 Report of the Independent Auditors 24 Statement of financial activities 25 Balance sheet 26 Statement of cash flows

28 Notes forming part of the accounts

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HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

Chairman’s Introduction

We are now into our 17[th] year of flying and saving lives. Our focus remains on bringing exceptional critical care to people right across Hampshire and the Isle of Wight whenever they need it.

In July we completed flight number 12,000, and coupled with the flexibility that our critical care team vehicles add, we have now been called to more than 17,500 emergencies across the region. This extraordinary number is a reminder of the many lives that have been impacted by our service. This of course has directly affected parents, partners, family and friends.

The thousands of people we help every year not only rely on our pilots, doctors, paramedics and ancillary staff, but also on our supporters. These comprise individuals, groups, grant giving trusts and volunteers, all of whom make up the fantastic team that are so essential to our operations.

This report sets out how, in the past year, we saw a remarkable upswing in both our income and our engagement with the communities we serve. It’s been a year of record income at £10 million, an increase of 11% on 2021/22. This is a feat that has been possible only with your backing and support.

Despite the numerous social and financial challenges that have faced the country, optimism remains remarkably high within the HIOWAA family. We are determined to fulfil our ambitious strategic aims and will continue to drive the charity forwards.

Mission

To ensure that, through your support, we always bring exceptional critical care to people in Hampshire and the Isle of Wight.

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Values
Openness Dedication Professionalism Teamwork
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Future Aims
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Thank you so much for standing with us, with our service and with our patients. Together we will move forwards with positivity, and look towards whatever the next 12 months has in store.

Trustees and Directors

Company Secretary

Chief Executive

Auditors

CLA Evelyn Partners Limited, 15-17 Cumberland Place, Southampton, Hampshire, SO15 2BG

Bankers

Handelsbanken, Oceana House, 39-49 Commercial Road, Southampton, SO15 1GA

Lloyds Bank PLC, 49 High Street, Winchester, SO23 9BU

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Investment Managers

Rathbone Brothers Plc, 32 Southgate Street, Winchester, SO23 9EH Brewin Dolphin, 12 Smithfield Street, London, EC1A 9BD

Registered Office F4 Adanac Park, Adanac Drive, Nursling, Southampton, SO16 0BT

Registered Numbers

5244460 Companies House 1106234 Charity Commission

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Reach more Outstanding Engaged Sustainable
people patient community income
outcomes
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HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

A LIFE SAVED: MICHAEL’S STORY

“We’d seen the Hampshire and Isle of Wight Air Ambulance fly overhead on its way back to base from a separate incident. It must have been retasked, because they suddenly turned around and made straight for me. I can’t describe how I felt knowing that suddenly help was quite literally dropping in.

“When the Air Ambulance landed, I remember thinking thank God, I’m safe now.”

Blue skies and light winds equal a perfect day for skydiving – especially if you’re about to launch into your 379[th] skydive.

“When the Air Ambulance landed, I remember thinking thank God, I’m safe now. I knew that whatever happened next the outcome would be the best it could possibly be. I trusted them completely.”

But, when a move he had learned the day before went horribly wrong, 47-year-old Michael Oakes came crashing into the ground beneath him, sustaining catastrophic injuries.

The crew assessed Michael before cutting away his clothes and administering strong pain relief so he could be safely loaded onto the helicopter, ready to be flown to University Hospital Southampton. He spent the next seven days in the specialist spinal unit before being discharged home.

Former Royal Marines Commando Michael is no stranger to extreme and demanding sports, having completed an astonishing 18 Ironman Triathlons and six 100-mile ultramarathons.

Ready for his eighth jump that weekend, Michael took to the skies over the Army Parachute Association at Skydive Netheravon. As he attempted the new manoeuvre, approximately 200 feet from the ground, something was wrong. It was too late to correct it and Michael hurtled toward the ground at maximum speed.

“By some miracle my spinal cord appears unaffected,” he said.

As time went on, I knew I was in trouble. The pain just kept increasing and with it the volume of my screams.

“It’s going to be months-long, but I’m determined that I’ll work hard and recover and do all the things that I used to do before. And yes, I will be jumping out of planes again once it’s safe for me to do so.

“I find it hard to articulate how grateful I am. My hope is that somehow, the crew go home every day knowing that they’ve tangibly impacted lives for the better.

In a heap on the ground, the staff surrounded Michael and went into “emergency mode.”

“As time went on, I knew I was in trouble,” said Michael. “The pain just kept increasing and with it the

“We donate to these charities hoping that we’ll never need them, but without your donations and support I’d have been on the ground, perhaps for hours, in a pain I can’t describe.

volume of my screams. I consider myself quite stoic, but I’ve never felt anything like it before.” Michael had suffered a burst L4 spinal fracture – a potentially lifechanging injury.

“If the Air Ambulance hadn’t got to me, I might not be walking again. So, thank you everyone – I just don’t know how to make that small word bigger.”

6 HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Photo taken on Michael’s helmet camera

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Annual Report and Financial Statements

AFTERCARE

In our commitment to not only save lives but greatly improve the long-term recovery of our patients, this last year saw the launch of our Aftercare service.

Since our first emergency flight back in July 2007, our care to patients has ended when they are handed over to the emergency hospital staff.

However, due to the severity of our call-outs, many of our patients and their relatives can be left navigating significant physical and emotional challenges.

With the provision of Aftercare, we are now able to support patients and their families throughout their recovery or grieving process.

Understanding the critical care that has been provided, and the rationale behind that care, allows patients the opportunity to process their experiences properly and therefore begin the process of psychological recovery.

One of three Aftercare Managers, Tom NickissonRichards, said: “Patients who we have treated have often experienced significant illness or injury. Not only have their lives been turned completely upside down, but the lives of their families have also been profoundly affected. Aftercare will provide a consistent point of support to these patients and their families.

“We’re extremely grateful to supporters of the charity whose generosity makes our vital new service possible.”

Dale from Portsmouth was treated by our crew when he was hit by a car while out jogging on New Year’s morning in 2021.

Dale said: “I have no memory of when I was injured. To be able to speak with the Aftercare team and then meet with the paramedic who saved my life was amazing and gave me a good understanding of everything that happened. It has helped me process what happened and has given me a huge appreciation for everything Hampshire and Isle of Wight Air Ambulance did for me when saving my life.”

For more information, please visit: www.hiowaa.org/patient-family-support

SIM VAN

It takes years of experience, countless flying hours and rigorous training to become a Helicopter Emergency Medical Services (HEMS) pilot. But the launch of our flight simulator gives you the chance to experience the sensation of what it is like to fly our Airbus H135 helicopter on a mission.

Kitted out with state-of-the-art flight simulator technology, the simulator’s aircraft controls, instruments and displays closely resemble those found in our very own aircraft.

Launched April 2023, the Sim Van has received widespread recognition across the region – and beyond. It’s a game changer. A stand-out attraction at any show or event. An opportunity to canvas parents and grandparents while children take turns flying over the river Solent and attempt a tricky landing in their school’s playing field.

Since its launch, the Sim Van has been to hundreds of events and takes off on more than 1,000 flights each month, bringing in many £1,000’s of income.

No matter what the situation or scenario, the Sim Van has done more than raised the charity’s profile. It has given members of the Engagement team, our volunteers and external canvassers the opportunity and confidence to build long-lasting relationships with potential donors. It is an opportunity generation machine.

For more information, please visit: www.hiowaa.org/simvan

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HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

YEAR IN NUMBERS 1 October 2022 - 30 September 2023

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23,147
1,878
Regular Donors
as of 30 Sept 23 Total Missions
1,410
Event Participants
751
89,106 1,127
Website
page views
Total Deployments
Total Deployments in Emergency
in Helicopter Response Vehicles
58,490
● Donations and
Legacies (55%)
HIOWAA
Total website users 40% Income 55% ● Investment Income &
Bank Interest (5%)
2023
● Lottery & Other
Income (40%)
5%
131
Volunteers
9% ● Operations of Air
1%
Ambulance (67%)
10%
● Fundraising Costs &
Cost of Sales (13%)
HIOWAA
13% Expenditure 67% ● Lottery Costs (10%)
2023 ● Investment Management
Fees (1%)
68,586 ● Support Costs &
Lottery Players Governance (9%)
as of 30 Sept 23
LOTTERY
PLAYER
TICKET
LOTTERY
PLAYER
TICKET
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TRUSTEES REPORT

Overview

The Trustees of Hampshire and Isle of Wight Air Ambulance, who are also Directors of the charitable company for the purpose of Company Law, are pleased to present their Annual Report and the Financial Statements for the year ended 30 September 2023. The reference and administrative information set out on page 4 forms part of this report.

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HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

Trustees must consist of at least three individuals and will not normally exceed 12. We have deliberately over-recruited to ensure continuity, as a number of Trustees will soon be due to retire having reached their full term.

secure our long-term sustainability, to ensure compliance with the fundraising codes of conduct and to manage reputational risk.

Structure, Governance and Management

Trustees are recruited through an open and efficient process by the Board against required skill sets to ensure the right mix of proficiency and experience. All new Trustees receive an induction pack and appropriate induction meetings and training. Wider on-going training and development opportunities are also offered.

Hampshire and Isle of Wight Air Ambulance is a registered charity (number 1106234) which was incorporated on 28 September 2004. The charity’s Objects, as contained within its Articles of Association (amended in 2022) are: The relief of sickness and injury and the protection of human life for the benefit of the population of and visitors to the counties of Hampshire and the Isle of Wight and surrounding areas, by the provision and support of:

The following committees report to the board:

Trustees serve an initial term of three years, after which they may offer themselves for re-election; a Trustee will not normally serve for longer than three terms. Formal Board meetings occur quarterly in order to achieve routine governance business and additionally, as required, for special purpose briefings.

Strategic direction of the charity is determined by the Trustees, who also take responsibility for assurance that relevant laws and codes are adhered to and to monitor performance against agreed objectives. Day-to-day business of the charity is delegated to the Chief Executive and his senior management team (SMT) who are authorised to deliver agreed plans on behalf of the Board.

Following a period of development HIOWAA became operational as an

Air Ambulance in July 2007. Now in our 17[th] year of service, we operate through a partnership between the charity and four key partners. Together we deliver our mission for the people of Hampshire and the Isle of Wight:

HIOWAA charity team: The charity team is led by our Chief Executive who is responsible to the Board for the delivery of our mission.

The charity operates through three directorates:

Charity Operations: Responsible for supporting our people (staff and volunteers), our premises and all equipment to support our medical and engagement activities.

Engagement: Responsible for securing income via public engagement, marketing, communications and fundraising.

Finance & Commercial: Responsible for day-to-day financial management and the contractual oversight of our key contracts.

Our key partners: The following partners are contracted by the charity.

University Hospital Southampton (UHS), host the HEMS Care Group. UHS hold the contracts of employment (permanent/bank/ honorary) for all clinical and dispatch staff. They also maintain essential clinical governance assurance, including the registration with the Care Quality Commission.

Babcock Mission Critical

Services (Onshore) (BMCS), who provide every aspect of our aviation capability.

Lottery Fundraising Services (LFS), who run our society lottery and deliver a canvassing service for our regular giving campaign.

South Central Ambulance Service

(SCAS), who provide access to the Emergency Operations Centres, from where HIOWAA assets are dispatched.

We also cooperate closely with our neighbouring Air Ambulance services and the Isle of Wight Ambulance Service.

Public Benefit, Openness and Accountability

The Trustees have paid full regard to Charity Commission guidance on Public Benefit. The Trustees remain confident that, through the provision of pre-hospital emergency medicine, which is freely available to the public in Hampshire and the Isle of Wight, we are in accordance with the regulations on public benefit.

The charity is subject to regulation by the Charity Commission, Companies House, Care Quality Commission, Civil Aviation Authority, Gambling Commission, Information Commissioner and the Fundraising Regulator. No serious incidents required reporting this year.

The Board considers the diversity of Trustees to be a key priority but recognises the challenges meeting the combination of diversity imperatives. Following recruitments in summer 2023 the profile of the Board has continued to improve. However, the Board still recognises important gaps and this will continue to be a priority in future recruitment.

The Trustees review their performance against the Charity Governance Code and continue to implement recommendations of the external review held in July 2019. An internal review was undertaken in 2023.

Activities and Achievements

Summary of Key Achievements

Lives saved: Louis Young

19-year-old apprentice fabricator Louis loved his motorbike. But as he was riding back from a day at the beach in June 2023, he sustained a series of devastating injuries when he came off his bike and hurtled through a barbed wire fence. The fence ripped off the skin and the muscle from above his knee down to his lower calf – exposing his blood

vessels and nerves. Louis had also broken his femur and sustained a traumatic brain injury.

Louis had lost a lot of blood. We flew to him and sedated him to help with the pain, before giving him an emergency blood transfusion.

Louis spent the next month in hospital, where he underwent five surgical procedures. While he currently relies on a wheelchair for longer walks and uses crutches around the house, the hope is that he’ll eventually walk independently again.

Pictured: Louis Young

This is the story of one of 1,878 deployment this year. We have many similar stories of lives saved by our service - from our dispatchers on the desk to the crew out on the road and up in the air each playing their part, each mission is only possible thanks to the kindness and generosity of our dedicated supporters.

Sustainable Income

We received record income this year of £10,182k. This figure was boosted by the drive and new approaches of our Engagement team, as well as the continued growth of legacy income.

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Annual Report and Financial Statements

Income and Engagement Approach

HIOWAA receives no Government or National Lottery funding for routine operations, and it is only thanks to the generosity of the communities we serve that we are able to keep the Air Ambulance flying and saving lives. Our income profile is broad and designed to deeply engage with individuals and groups. We employ a salaried, professional team, who do not earn a bonus, to manage our income streams and ensure that we meet statutory obligations to the Charity Commission, Fundraising Regulator and Gambling Commission.

HIOWAA works with LFS as our thirdparty operator, to provide end to end management of our society lottery and to deliver a canvassing facility for our committed giving campaign.

There is a Commercial Participation Agreement in place, detailing the obligations of each organisation, and regular reviews are in place to thoroughly appraise the service provided.

The LFS canvassers complete a charity induction that focuses on gambling and fundraising regulation, including standards of behaviour that are expected when they interact with the public. All canvassers are ‘Dementia Friends’ accredited by the Alzheimer’s Society to protect vulnerable persons. Additionally, the charity conducts regular mystery shopping exercises and compliance calls to ensure quality and consistency of service.

The charity is a member of the Chartered Institute of Fundraising, the Fundraising Regulator, and holds a society lottery license with the Gambling Commission alongside LFS. The charity maintains strong

governance practices and remains compliant with the associated organisational codes of practice.

Any complaints that our fundraising activities may generate are recorded and investigated by the charity Operations team, reviewed by the relevant line manager, or referred to our third-party operator where appropriate. The charity takes any opportunities to improve supporter care very seriously. Our fundraising activities generate very few complaints each year with fewer than six received in 2022/2023; none required escalation beyond the charity.

Activity and Plans

Aftercare

Each year we respond to thousands of people in need of emergency care.

For those left navigating traumatic and life-changing injuries, it is only the start of their road to recovery. The launch of our Aftercare service ensures each patient we attend has the appropriate support in place to achieve a successful recovery – both physically and mentally. See more on page 8.

Critical Care Paramedic car

The past financial year has seen the introduction of our Critical Care Paramedic car. Operating in addition to the helicopter-based doctor and paramedic Critical Care Team, this extra resource allows us to reach more patients in need of specialist emergency care.

Carrying at least one Specialist Paramedic in Critical Care on board every shift, they are able to provide enhanced treatment in support to ambulance service clinicians. This includes administering stronger pain relief, sedation and other medicines

as well as providing specialist assessment and interventions to give patients the very best chance of survival and recovery.

Research and Development

Hampshire and Isle of Wight Air Ambulance always strives to be at the forefront of pre-hospital care.

The start of our Research and Development programme is vital to providing the best possible care and outcome to our patients. As we continually search for more appropriate, effective, and efficient ways of achieving our mission, support from the public ensures our crew are ready to provide enhanced pre-hospital care to those who need it.

Trials include:

Crew

A new Clinical leadership team came into post during the summer. Dr Simon Hughes replacing Dr Louisa Chan as Clinical Lead and Nick Gray replaced Michael Bradfield as Paramedic Lead. Dr Louisa Chan will continue to work operationally for the service, but we would like to express our thanks to both Louisa and Michael for all they have done to grow and develop our service.

Plans for next year

We are on the cusp of updating our clinical strategy, which will be launched in 2024.

It will highlight how we can reach more patients in need and provide the best possible care to those we do reach. It will look at both major changes to our operational set up and developing systems to encourage incremental improvements. We are considering moving our operational base to be closer to the majority of

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HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

the incidents we serve and looking at other developments which would deliver the primary benefit of improving patient outcomes.

Engagement

Activity

The Engagement team has delivered an increase in individuals, groups and organisations supporting us and achieved record income by adopting an approach of longterm relationship building with our supporters. The focus is now centred on giving people a superb experience and supporting them in their activity.

We want to take these people on an onward journey, offering enhanced access to the charity’s crew and facilities, thanking supporters effectively and telling our story to as many people as possible, so ensuring a life-time bond is formed. This approach allows us to develop a plan to provide sustainable income rather than focussing on short term fundraising targets.

Not only has the approach delivered a record financial return this year, but it has also led to the team winning Fundraising Team of the Year Award at the prestigious Third Sector Awards.

Plans for next year

We will continue to develop our approach to manage a lifetime relationship with our supporters. This will look at how we communicate, manage supporter information and encourage greater involvement in our regular giving programme.

People, Business and Digital

Activity

In the ever-evolving landscape of our charitable work, it remains essential to underscore our front line delivery through the development of our people, our business processes, and our digital systems. These foundational elements continue to be the driving force behind our success, and we are committed to their continuous improvement and development.

Our People

Our dedicated team is at the heart of everything we do. In the past year we have continued to invest in training programs and provided access to the latest tools and approaches, equipping our staff with the knowledge and skills needed to excel in their roles.

Business Operations

We continuously review business processes, with the aim of streamlining our operations and ensuring the efficient allocation of resources. We have developed our Data team to enable us to gain insights to optimise our approach going forward.

Digital Advancements

In this digital age we recognise the pivotal role of technology in expanding our reach and increasing our effectiveness. Over the past year we have been reviewing our digital strategy with the aim of developing our systems and approach in the years ahead. Our focus has been on achieving greater integration to enable seamless data flow and communication to allow us to better serve our supporters.

Plans for next year

We will be building on the work started this year to provide enhanced analytical information to support decision making. To do this we will develop our systems to allow us to collect and process information in ways that minimise risk and maximise effectiveness. This may include changing support packages to allow for greater integration.

Environmental, Social, Governance (ESG)

We are focussing on our social responsibility by ensuring that factors key to our supporters are central to our decision making.

Activity

All major decisions that require Board approval are now reviewed through an ESG lens. In practice this means all papers coming to Board meetings are supported by a statement of how ESG factors have been taken into consideration in making the proposed recommendation.

In our commitment to reducing our carbon footprint, we have worked this year with colleagues across the Air Ambulance sector to look at how we can develop plans to move us towards net zero. In line with this we are now undertaking a carbon benchmarking project to provide us a starting point for future development of a strategy to move the charity towards net zero, recognising the challenges involved for a service like ours in achieving this. We have also set up a team to help support and guide us on this journey.

Plans for next year

Going forward we will expand this section of the Annual Report by reporting our carbon emissions and our reduction strategy. Despite the challenges, we wish to be transparent about both our carbon footprint but also provide supporters assurance of our efforts to mitigate its impact.

Our Ambition for the Future

Reach More People

We are committed to expanding our reach, ensuring that our services touch the lives of even more individuals who need us. Through continuous improvement, innovative approaches and collaborative partnerships, we aim to extend our impact, providing critical support to those who need it most.

Outstanding Patient Outcomes

We will continue to pursue outstanding patient outcomes. Our future plans include the implementation of new technologies and approaches, continuous training for our staff, and comprehensive research to raise the bar in healthcare quality, offering patients the best chance for recovery and improved quality of life.

Engaged Community

To foster a strong and engaged community, we will launch new initiatives that promote active participation and collaboration. By creating opportunities for volunteers, patients, their families and the wider

community to be an integral part of our mission, we aim to strengthen the bonds that connect us and create a sense of shared purpose.

Sustainable Income

Financial sustainability remains a top priority. We aim to establish innovative engagement strategies and revenue streams that will secure a steady income to support our mission. By diversifying our funding sources and building long-term relationships with donors and partners, we will ensure the enduring success of our charitable mission.

Financial Review

Overview

We continue to gain significant regular monthly income thanks to the generosity of our regular donors and lottery players. This support, bolstered by significant legacies and our programme of community outreach, allowed us to exceed our budgeted income enabling full delivery of our operational programme.

Income

Overall we raised £10,182 k in 202223, an increase of 11% on last year (2021-22: £9,165k). This significantly exceeded budgetary expectations thanks to strong performance across our income lines. Only lottery saw a reduction but this was based on a strategic decision to focus on committed giving.

Expenditure

From the total expenditure of £10,163k, we spent 67% on the operation of our critical care services, 23% on lottery and fundraising costs, and the remaining 10% on support costs and investment management fees.

Our operational expenditure was managed within budget but expenditure overall increased due to the loss in market value of our funds under investment.

Natalie Russell and Sarah Hulin pictured with comedian and host Maisie Adam at the Third Sector Awards

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Annual Report and Financial Statements

five year forward forecast confirms that on the basis of predicted income and expenditure, our reserves are adequate and will provide for sustainability of operations.

Investment Policy

Rathbones and Brewin Dolphin continue as HIOWAA’s appointed investment managers. The investment objective for both investment managers continues to be to preserve the value of the funds under management in real terms, balancing risk against return.

The charity is currently looking at a potential operating base move that could involve the deployment of reserves. Given the uncertainty of when this project will be delivered, we are currently holding a final review of our reserves policy until we have more certainty over our future direction of travel.

Ethical investing: Both our investment managers embrace ESG in the day-today management of our funds. As a charity we are actively reviewing our ethical investment approach.

Remuneration Policy

The Trustees continue to review the performance of the charity’s investments regularly, both on an adhoc basis and with an annual formal performance review between the fund managers and the Finance and Investment Sub-Committee.

The pay of all staff is reviewed annually. The salary of SMT members is externally benchmarked and individual recommendations made by the CEO and agreed by the Governance and People SubCommittee. The salary of the CEO is reviewed separately by the Chairman in liaison with this committee. In accordance with the Charities SORP, further detail on senior staff pay is contained in the notes to the financial statements (note 9).

We have undertaken a full review of our investment policy and are currently in the process of appointing investment managers following a tender.

Reserves Policy

The unrestricted reserves as at 30 September 2023 amounted to £17,051k, roughly 1.7 years of overall expenditure. The charity’s current

Risk

On behalf of Trustees, the Chief Executive maintains a comprehensive

Strategic Risk Framework which focuses on five key areas of strategic risk:

  1. Impact (What we deliver)

  2. Culture, People and Partnerships (How we deliver)

  3. Reputation

  4. Financial Sustainability

  5. Compliance

This is designed to assess risks that would have a fundamental impact on the charity achieving its agreed objectives. Trustees review quarterly the key risks that could impact on both the delivery and resilience of our life-saving service as well as the strong reputation of the charity.

Operational and project risks are monitored by the Chief Executive, including those areas of operational and clinical risk delegated to our key partners. Current operational concerns and opportunities are reported monthly to the Board.

Further information

This report provides a snapshot of the work of the charity. For detailed information and stories of the patients whose lives we have impacted or for more information on our life-saving week, please visit www.hiowaa.org

Our gratitude

In closing the Trustees wish to reaffirm that our critical care service delivery is only made possible by the generosity and very broad support that the charity receives right across the people and communities of Hampshire and the Isle of Wight.

We especially wish to acknowledge the contribution of our volunteers who provide an invaluable resource in supporting our operations.

Accordingly, Trustees wish to record their sincere gratitude for this wide-ranging and vital generosity.

followed, subject to any material departures disclosed and explained in the financial statements

Auditors

Trustees’ Responsibilities for Financial Statements

CLA Evelyn Partners Limited were appointed as the charity auditors on 27 Sept 2016. The current Trustees confirm that they have taken all necessary steps to make themselves aware of any information needed by the charity’s auditors for the purposes of their audit and to establish that the auditors are aware of that information. The Trustees are not aware of any relevant audit information which has not been disclosed to CLA Evelyn Partners Limited.

The Trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with the Companies Act 2006 and for being satisfied that the Financial Statements give a true and fair view. The Trustees are also responsible for preparing the Financial Statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Trustees acknowledge their responsibilities to:

In preparing this Trustees’ report advantage has been taken of the small companies’ exemption.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 30/01/2024 and is signed on their behalf by:

David Drew Chairman

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HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

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INDEPENDENT
AUDITOR’S REPORT
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Independent Auditor’s Report to the Members of Hampshire and Isle of Wight Air Ambulance

Opinion

We have audited the financial statements of Hampshire and Isle of Wight Air Ambulance (the ‘charitable company’) for the year ended 30 September 2023 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events

or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to

be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report contained within the Trustees’ Annual 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:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 19, the Trustees (who are also 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtained a general understanding of the charitable company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance. We also drew on our existing understanding of the charitable company’s industry and regulation.

We understand that the charitable company complies with the framework through:

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the charitable company’s ability to conduct its business, and/or where there is a risk that failure to comply could result in material penalties.

We identified the following laws and regulations as being of significance in the context of the charitable company:

Overall, the senior statutory auditor was satisfied that the Engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities. In particular, both the senior statutory auditor and the audit manager have a number of years’ experience in dealing with charitable companies.

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

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, for our audit work, for this report, or for the opinions we have formed.

The senior statutory auditor led a discussion with senior members of the Engagement team regarding the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:

Julie Mutton

Senior Statutory Auditor, for and on behalf of

These areas were communicated to the other members of the engagement team not present at the discussion.

CLA Evelyn Partners Limited

Statutory Auditor Chartered Accountants Cumberland House 15-17 Cumberland Place Southampton Hampshire SO15 2BG

30/01/2024

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22

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

STATEMENT OF FINANCIAL ACTIVITIES

BALANCE SHEET AT 30 SEPTEMBER 2023

Statement of Financial Activities (Incorporating Income and Expenditure Account) for the year ended 30 September 2023

----- Start of picture text -----
UNRESTRICTED RESTRICTED TOTAL TOTAL
NOTE FUNDS 2023 FUNDS 2023 2023 2022
(£000’s) (£000’s) (£000’s) (£000’s)
Income and
endowments from:
Donations and legacies 2 5,567 136 5,703 4,514
-
Other trading activities 3 3,970 3,970 4,246
Investments 4 509 - 509 405
Total 10,046 136 10,182 9,165
Expenditure on:
-
Raising funds 5 3,335 3,335 2,891
Charitable activities 6 6,812 16 6,828 5,689
Total 10,147 16 10,163 8,580
Operating (loss)/
(101) 120 19 585
surplus for the year
Net (loss) on 11 (182) - (182) (1,260)
investments
(Deficit)/Surplus for
(283) 120 (163) (675)
the year
Transfers between
35 (35) - -
funds
Net movement
(248) 85 (163) (675)
in funds
Funds at 1 October
17,299 31 17,330 18,005
2022
Funds at 30 September
17,051 116 17,167 17,330
2023
----- End of picture text -----

The statement of financial activities incorporating the income and expenditure account includes all gains and losses recognised in the year.

All amounts relate to continuing activities.

Balance Sheet at 30 September 2023 | Company number 5244460

----- Start of picture text -----
TOTAL 2023 TOTAL 2022
NOTE
(£000’s) (£000’s)
Fixed assets
Tangible assets 10 551 507
Investments 11 12,631 12,898
13,182 13,405
Current assets
Stocks 10 20
Debtors 12 1,620 1,100
Cash at bank and in hand 6,028 5,509
7,658 6,629
Liabilities
Creditors: Amounts falling due
13 3,673 2,704
within one year
Net current assets 3,985 3,925
Total assets less current liabilities 17,167 17,330
Net assets 17,167 17,330
Funds
Restricted income funds 20 116 31
Unrestricted funds 17 17,051 17,299
Total funds 17,167 17,330
----- End of picture text -----

Approved by the Trustees and authorised for issue on 30/01/2024 and signed on their behalf by:

David Drew Peter Taylor JP FCA FRSA Chairman Treasurer

The notes on pages 28 to 36 form part of these financial statements.

The notes on pages 28 to 36 form part of these financial statements.

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24

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

STATEMENT OF CASH FLOWS ENDED 30 SEPTEMBER 2023

Statement of cash flows for the year ended 30 September 2023

----- Start of picture text -----
TOTAL 2023 TOTAL
(£000’s) 2022(£000’s)
Cash flows from operating activities:
212 1,078
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment (202) (54)
Net Withdrawal of investments/investment income 407 437
Interest received 102 14
Net cash provided by investing activities 307 397
Change in cash and cash equivalents in the financial year 519 1,475
Cash and cash equivalents at the beginning of the year 5,509 4,034
Cash and cash equivalents at the end of the year 6,028 5,509
----- End of picture text -----

Reconciliation of (deficit)/surplus to net cash flow from operating activities

----- Start of picture text -----
2023 2022
(£000’s) (£000’s)
Net (loss) for the year (163) (675)
Adjustment for:
Losses on investments 182 1,260
Investment income (407) (391)
Investment costs 85 81
Depreciation charges 158 147
Loss on disposal of fixed asset 0 2
Decrease in stock 10 2
(Increase) in debtors (520) (132)
Increase in creditors 969 798
Interest received (102) (14)
Net cash provided by operating activities 212 1,078
----- End of picture text -----

Analysis of changes in net debt would replicate the information provided above and is therefore not disclosed.

26

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

i) Funds

1 Accounting Policies /

Hampshire and Isle of Wight Air Ambulance is a company limited by guarantee and incorporated in England and Wales. The address of the registered office is: F4 Adanac Park, Adanac Drive, Nursling, Southampton, SO16 0BT.

The financial statements have been prepared in accordance with the Charity Commission Statement of Recommended Practice (SORP) on Accounting and Reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

The Trustees confirm that the charity is a public benefit entity, as defined in FRS102.

a) Accounting Convention

The financial statements are prepared under the historical cost convention with the exception of investments, which are included at revalued amounts.

b) Going Concern

The charity’s primary sources of income are donations, legacies, lottery and investment income. After careful consideration of the charity’s current financial position, the Trustees are confident that the charity has adequate resources to continue in operation for the foreseeable future which is at least 12 months from the date of approval of these financial statements. Accordingly they continue to adopt the going concern basis in preparing the accounts.

c) Presentation currency

The functional currency of the charity is in pounds sterling and the financial statements are also presented in pounds sterling.

d) Income

Income is recognised once the charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Income represents the value of all grants, donations and other income receivable in respect of the year. Legacy income is included on receipt or when it becomes probable that the legacy will be received and the value of the incoming resources can be measured with sufficient reliability.

Income from the lottery is recognised in the period in which the individual prize draws are held. Income received in advance of those draws is deferred until the period in which they take place.

Donated services are included at their estimated value to the charity when received, and under the appropriate expenditure heading depending on the nature of service or facility provided, at the same value and time.

e) Expenditure

Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the respective category. Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Support costs are allocated to the category of expenditure to which they apply, including direct staff cost, such as operational and fundraising staff. Where costs are not directly attributable, such as administrative staff costs, these are apportioned on the basis of time spent by those staff on different activities.

f) Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. The rates generally applied are on a straight line basis, as follows:

----- Start of picture text -----
Leasehold Improvements Over life of lease
Fixtures and Fittings Over 4-10 years
Equipment Over 4-5 years
Motor Vehicles Over 4 years
----- End of picture text -----

Only tangible fixed assets costing more than £1,000 are capitalised.

g) Leased assets

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

h) Investments

Investments are included in the balance sheet at market value.

current market conditions and other factors. Management makes estimates and assumptions concerning the future in preparing the financial statements and the actual results will not always reflect the accounting estimates made.

Unrestricted general funds can be used in accordance with the charitable objects of the organisation at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are given for particular restricted purposes.

The estimates and judgements that are considered to be key to Hampshire and Isle of Wight Air Ambulance are outlined below:

Recognition of legacy income: where notifications of legacies are received prior to the balance sheet date but the income has not been received, an accrual for legacy income will be made if it is probable that the legacy will be received and the value of incoming resources can be measured with sufficient reliability.

j) Provisions

Provisions are recognised when the charity has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and the obligation can be estimated reliably. Provisions are measured at the best estimate of the amounts required to settle the obligation.

Where these measurement criteria have not been met, consideration is made to determine whether the legacies meet the definition of a contingent asset. At the year end the estimated cash value of contingent assets is £nil (prior year £nil).

Judgements in applying accounting policies and key sources of estimation.

Estimates and judgements are evaluated at each reporting date and are based on historical experience as adjusted for

28

29

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

2 Income from donations and legacies /

----- Start of picture text -----
UNRESTRICTED RESTRICTED TOTAL TOTAL
FUNDS 2023 FUNDS 2023 2023 2022
(£000’s) (£000’s) (£000’s) (£000’s)
Donations 3,952 136 4,088 3,069
-
Legacies 1,615 1,615 1,445
5,567 136 5,703 4,514
----- End of picture text -----

The charity benefits greatly from the involvement and support of its many volunteers, details of which are given in the Trustee’s report. In accordance with FRS102 and the Charity’s SORP (FRS 102) the economic contribution of general volunteers is not recognised in the accounts.

3 / Income from other trading activities

----- Start of picture text -----
UNRESTRICTED TOTAL TOTAL
FUNDS 2023 2023 2022
(£000’s) (£000’s) (£000’s)
Lottery income 3,896 3,896 4,163
Other income 66 66 73
Sale of merchandise 8 8 10
3,970 3,970 4,246
----- End of picture text -----

4 / Income from investments

----- Start of picture text -----
UNRESTRICTED
TOTAL 2023 TOTAL 2022
FUNDS 2023
(£000’s) (£000’s)
(£000’s)
Investment income 407 407 391
Bank interest 102 102 14
509 509 405
----- End of picture text -----

5 / Expenditure on raising funds

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Fundraising costs and cost of sales 1,074 738
Fundraising staff costs 295 204
Allocated support costs (note 7) 890 749
Lottery prizes and expenses 1,012 1,119
Investment management costs 64 81
3,335 2,891
----- End of picture text -----

Expenditure on raising funds was £3,335k (2022: £2,891k) of which £3,335k (2022: 2,889k) was unrestricted and £Nil (2022: £2) was restricted.

6 Expenditure on charitable activities /

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Operation of Air Ambulance 6,407 5,346
Operation staff costs 72 50
Allocated support costs (note 7) 349 290
Loss on disposal of fixed asset - 3
6,828 5,689
----- End of picture text -----

Expenditure on charitable activities was £6,828k (2022: £5,689k) of which £6,812k (2022: £5,681k) was unrestricted and £16k (2022: £8k) was restricted.

7 / Analysis of expenditure on Support costs

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Administrative salaries and social security 771 680
Pension costs 30 17
Office costs 328 212
Other administrative costs 79 112
Governance costs 31 18
1,239 1,039
----- End of picture text -----

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30

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Support costs have been allocated as follows:
Expenditure on raising funds (note 5) 890 749
Expenditure on charitable activities (note 6) 349 290
1,239 1,039
----- End of picture text -----

8 Analysis of Governance costs /

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Auditor and accountancy fees 21 15
Other 10 3
31 18
----- End of picture text -----

9 / Staff costs

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Wages and salaries 1,027 846
Employer’s national insurance 96 81
Employer’s pension contributions 45 23
1,168 950
----- End of picture text -----

Trustees travel expenses were £287 (2022: £ Nil) during the year. There were no related party transactions during the year.

The average number of full-time equivalent employees was 30 (2022: 28).

The key management personnel of the charity comprise 4 staff members. The total employee emoluments of the key management personnel of the charity were £279k (2022: £252k). The highest paid employee received emoluments of £82k (2022: £77k) and pension contributions of £4k (2022: £2k) in the year.

The following employees received employee benefits (excluding employer pension costs and employers NI) during the year between:

----- Start of picture text -----
2023 2022
£60,000 - £69,999 2 2
£70,000 - £79,999 0 1
£80,000 - £89,999 1 0
----- End of picture text -----

10 / Tangible fixed assets

----- Start of picture text -----
LEASEHOLD FIXTURES
MOTOR
IMPROVE- EQUIPMENT AND TOTAL
VEHICLES
MENTS (£000’s) FITTINGS (£000’s)
(£000’s)
(£000’s) (£000’s)
Cost
At 1 October 2022 579 472 101 186 1,338
Additions 11 41 13 137 202
At 30 September 2023 590 513 114 323 1,540
Depreciation
At 1 October 2022 229 349 77 176 831
Charge for the year 50 64 7 37 158
At 30 September 2023 279 413 84 213 989
Net book value
311 100 30 110 551
At 30 September 2023
At 30 September 2022 350 123 24 10 507
----- End of picture text -----

11 Fixed asset investments /

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Market value at 30 September 2022 12,898 14,286
Net Income 28 (47)
Fee withdrawals (85) (81)
Realised and unrealised (loss) (211) (1,260)
Market value at 30 September 2023 12,631 12,898
Historic cost at 30 September 2023 12,298 12,454
----- End of picture text -----

Total investment income as disclosed on the face of the Statement of Financial Activities also includes £102k (2022: £14k) of bank interest. All investments are listed.

No single investments exceeded 5% of total market value. The cash element was £358k.

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32

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

12 Debtors /

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Accrued income 487 336
Prepayments 917 560
Trade Debtors 105 30
Other debtors 111 174
1,620 1,100
----- End of picture text -----

13 / Creditors: amounts falling due within one year

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Trade creditors 2,545 468
Other creditors 15 54
Lottery receipts in advance 537 550
Accruals 439 1,608
Other taxation and social security 27 24
Deferred Income 11o -
3,673 2,704
----- End of picture text -----

14 / Deferred Income

----- Start of picture text -----
2023 (£000’s) 2022 (£000’s)
Balance at 1 October 46 1
Amount released to incoming resources (46) (1)
Amount deferred in the year 110 46
Balance at 30 September 110 46
----- End of picture text -----

Deferred income comprises lottery ticket sales in respect of the Superdraw occurring in December 2023, in addition to sponsorship monies for the Dash in the Dark events which occurred post year end.

15 / Controlling party

The charity is controlled by its Trustees.

16 Commitments under operating leases /

The charity had commitments under non-cancellable operating leases as set out below:

----- Start of picture text -----
LAND AND LAND AND
OTHER OTHER
BUILDINGS BUILDINGS
2023 (£000’s) 2022 (£000’s)
2023 (£000’s) 2022 (£000’s)
Within one year 93 2,109 93 2,110
In two to five years 284 2,045 316 4,154
In more than five years 429 - 490 -
806 4,154 899 6,264
----- End of picture text -----

The charge to the Statement of Financial Activities relating to operating leases for the year was £2,255k (2022: £1,637k)

17 / Analysis of Unrestricted funds

----- Start of picture text -----
NET MOVEMENT AT 30
AT 1 OCTOBER TRANSFERS
IN FUNDS SEPTEMBER
2022 (£000’s) (£000’s)
(£000’s) 2023 (£000’s)
General fund -
17,299 (283) 35 17,051
operational reserve
17,299 (283) 35 17,051
----- End of picture text -----

Analysis of Unrestricted funds – prior year

----- Start of picture text -----
NET MOVEMENT AT 30
AT 1 OCTOBER TRANSFERS
IN FUNDS SEPTEMBER
2021 (£000’s) (£000’s)
(£000’s) 2022 (£000’s)
General fund -
17,973 (681) 7 17,299
operational reserve
17,973 (681) 7 17,299
----- End of picture text -----

35

34

HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

Annual Report and Financial Statements

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023

18 Analysis of Restricted funds /

----- Start of picture text -----
NET MOVEMENT AT 30
AT 1 OCTOBER TRANSFERS
IN FUNDS SEPTEMBER
2022 (£000’s) (£000’s)
(£000’s) 2023 (£000’s)
Reserve for specified
5 119 (35) 89
capital expenditure
Reserve for specific 26 - - 26
operational costs
Reserve for other
specific costs - 1 - 1
31 120 (35) 116
----- End of picture text -----

Analysis of Restricted funds – prior year

----- Start of picture text -----
NET MOVEMENT AT 30
AT 1 OCTOBER TRANSFERS
IN FUNDS SEPTEMBER
2021 (£000’s) (£000’s)
(£000’s) 2022 (£000’s)
Reserve for specified
3 9 (7) 5
capital expenditure
Reserve for specified operational costs 21 5 - 26
Reserve for other
specific costs 8 (8) - -
32 6 (7) 31
----- End of picture text -----

19 / Post Balance Sheet Events

There are no post balance sheet events in the current year.

20 Analysis of net assets between funds /

Fund balances at 30 September 2023 are represented by:

----- Start of picture text -----
UNRESTRICTED RESTRICTED TOTAL
FUNDS (£000’s) FUNDS (£000’s) FUNDS (£000’s)
Tangible fixed assets 551 - 551
Investments 12,631 - 12,631
Net current assets 3,869 116 3,985
17,051 116 17,167
----- End of picture text -----

36 HIOWAA[●] Hampshire and Isle of Wight Air Ambulance

4r HAM HIRE AND. ISLE WIGHT AIRAMBULANCE www.hiowaa.org 023 8074 3510 enquiries@hiowaa.org