##
##
|Foreword from the Chair ofthe Board of Trustees|||Pages 3 &.4|
|---|---|---|---|
|Trustees, Officers and Advisors,
Reference and Administrative||Information|Page S|
|Financial Statements
Declaration,
Governance,
Management||and Risk|Pages 6&7|
|Group Structure,
Governance
Code and Charitable|Objects||Page 8&9|
|The Wider RAF Family and the Club's Vision Mission and Values|||Page 9|
|The Club Strategy and Plans for the Future|||Page 10|
|Environmental
Strategy and Fundraising
Strategy|||Page 11|
|Club Committees|||Pages 12to 14|
|Contribution
by Club Volunteers|||Page 14|
|Staff Engagement,
Staff Awards and Staff Visits to|RAF Stations||Page 15|
|Financial
Review|||Pages 16to 18|
|Capital Improvements
to the Club House and The|Club as a|Going Concern|Page 18|
|Key Management
Personnel &Remuneration,
The
Investment
Policy|Reserves|Policy &the|Page 19|
|Accounting
and Reporting
Responsibilities|||Pages 20 &21|
|Independent
Auditors'
Report|||Pages 22 to 25|
|The Statutory
Financial Statements|||Pages 26to 29|
|Notes to the Financial Statements|||Pages 30to 40|
##
##
##
##
##
##
##
##
##
##
##
|Cyber security|Cyber security|breach|breach|Multi-layered
specialist cyber-security
application
software
and||
|---|---|---|---|---|---|
|||||firewalls are installed
throughout
the Club's
ITsystems.
Regular||
|||||monitoring
from the Club's
IT Management
contractor and the||
|||||Club's Systems & ITWorking
Group. Contract with the Cyber||
|||||Security Information
Sharing
Partnership
to keep up to date with||
|||||cyber security issues. Regular penetration
tests by independent||
|||||third parties and robust Ransomware
procedures
in place.||
|||||S ecialist insurance
cover in
lace.||
|Loss ofSenior||Management||Benchmarking
of remuneration
packages and formal annual||
|Staff resulting||in an|adverse|compensation
reviews to ensure the Club is competitive
in the||
|impact on service and||||market.
Formal appraisal
system and continuous
review ofstaff||
|functionality.||||and employee
welfare standards.
Offering flexible working||
|||||opportunities,
where appropriate,
and training
and educational||
|||||su
ort to boost
rofessional
standards.||
|Weak control|of income and|||Policy on Internal
Financial
Controls and delegated
Authorities||
|expenditure.||||annually
reviewed
by Finance, Audit & Risk Committee
and Board||
|||||ofTrustees. Budgetary
control system
with monthly
monitoring|of|
|||||management
accounts and variance analysis.
Dashboard
reports||
|||||for key activity indicators.
A newly created
Internal
Audit Team||
|||||staffed b
Member Volunteers.||
|Weak Control|ofcapital|||House Committee
produces a 5 to 10-year "Rolling Programme"||
|expenditure
and impact on||||of planned
preventative
maintenance
and new investment||
|cash flow||||Projects.
A formal
system ofcapital investment
appraisal
and||
|||||tendering
policy exists and a project management
review system||
|||||is in
lace.||
|The negative|impact||of|Constant
monitoring
ofsupplier
input prices against market,||
|volatile inflationary|||pressures|maximising
discounts
from bulk purchasing,
exploiting
lower||
|||||prices for seasonal
products,
evaluation
of long-term
fixed price||
|||||contracts,
maintaining
strong
relationships
with key suppliers
to||
|||||maximise
lo alt
discounts,
rom
t
a ment of su
liers.||
|Escalation of|the Ukrainian|||Flexible business
planning
models and demonstrable
ability to||
|war resulting|in|a significant||adjust rapidly business
plans and operations
commensurate
with||
|drop in demand||and further||changed
circumstances.||
|su
I -side|ressures|||||
|Computer
system failures or||||The recent migration
to cloud-based
applications
provides
extra||
|loss/corruption||of data.||resilience coupled
with daily external
backup procedures,
backup||
|||||power supply,
and a regularly
updated
Crisis Management
Plan.||
|||||Business interru
tion and other s ecialist
IT insurance.||
|Significant
loss||of Club||Fire/security
prevention
measures.
H&S Regulation
adherence.||
|facilities through||fire or||Crisis Management
plan. Business Interruption
Insurance.
Fire risk||
|similar disaster.||||assessment,
Ansul fire suppression
system||
|The negative|impact||of|Interest rate swap currently
provides protection.
Interest rate||
|adverse interest||rate||cover is built into the annual
budget.||
|movements||||||
|Terrorist activity||||Appropriate
security measures
based on professional
advice||
|||||(House Committee
experts,
civil and service police). Disrupting||
|||||hostile recon. Insurance
Cover significantly
reduces monetary||
|||||impact ofattack, Business Continuity
Plan
in place to enable||
|||||recovery, 3 security staff for vetting
visitors, applying
opaque
film||
|||||to front ent
doors and installin
additional
CCTV.||
##
##
##
##
##
|To be the London|To be the London|Club|ofchoice for serving|ofchoice for serving|ofchoice for serving|and|To provide
high-quality
and affordable
facilities|To provide
high-quality
and affordable
facilities|To provide
high-quality
and affordable
facilities|
|---|---|---|---|---|---|---|---|---|---|
|retired
RAF|Officers,||their|families|and|other|and
services
in|Central
London|for
Club|
|Members|||||||Members,
in order|to preserve,
promote
and||
||||||||foster the traditions|ofthe Ro al Air|Force|
|Value, respect|and|support||each other|||Give
personalised,|warm
and|consistently|
||||||||exce tional service|||
|Create positive, memorable||||experiences|for|every|Care about and give|back to our local|community|
|Member||||||||||
##
|Data is required to inform decisions taken by the Trustees and Club management.
We|Data is required to inform decisions taken by the Trustees and Club management.
We|Data is required to inform decisions taken by the Trustees and Club management.
We|will therefore|will therefore|will therefore|
|---|---|---|---|---|---|
|ather|data;|||||
||To develop
a deeper
understanding
of the current
and
likely future
requirements|||of each||
||member
group
(serving, former serving,
families and other members),
because||of the||mix of|
||membership
types, the membership
age profile and the aspirations|and expectations|||of the|
||current
Service officer cadre have a direct influence on usa e and the Club's ethos.|||||
||To monitor the balance between
membership
categories and set limits when necessary|||to align||
||with the Charitable
Ob ects.|||||
||To help
set the
balance
between
revenue,
quality
and
affordability,
and to||ensure||that|
||resources are
rioritised
with the Vision and Mission clearl
in mind.|||||
|We will develop
and maintain
an IT system that supports
appropriate
data||capture to guide strategic||||
|mana|ement and the most efficient use ofthe Club's resources.|||||
|We will ensure that business,
security
and operational
risks are managed||appropriately|and||within|
|the risk a
etite
arameters
set b
the Board.||||||
|We will work to im
rove the offer to members to:||||||
||Increase use ofthe Club b
all members.|||||
||Better attract existin
members
who serve or live awa
from London.|||||
||Promote the Club as the social venue ofchoice for servin
members|based
in London.||||
||Promote the benefits of Club membership
to newly commissioned|and other|non-member|||
||servin
officers.|||||
||Increase the membershi
u take from former servin
officers.|||||
|The Club will be res
ectful of its herita
e whilst ensurin
it remains
relevant||for the future||||
||We will improve the condition of 128 Piccadilly and its facilities, including
measures
in support|||||
||ofthe Net Zero 2040 tar et, whenever
ossible.|||||
||We will provide
benefits and training
for staff such that the Club becomes recognised||||as an|
||em
lo erof choice.|||||
||We will provide
training
for Trustees
and managers
to improve
the|governance|and efficient|||
||mana
ement ofthe Club.|||||
||We will develo
meanin
ful Ite
Performance
Indicators for Trustees|and Executives.||||
##
##
||Arts|House|Finance.|Events|Legacies,|Membership|Systems|
|---|---|---|---|---|---|---|---|
||Committee|Committee|Audit at Risk|Committee|Donations at|Committee|Working|
||||Committee||Fundraising||Group|
||||||Committee|||
||Wg Cdr|Gp Capt Jo|Fit Lt lan Melia|Air Cdre Dai|Air Cdre|Wg Cdr James|Fit Lt Haig|
|V|James
Po nton|Salter||Whittingham|Barbara
Coo
r|Hig|Tyler|
|'a
U|Gp Capt Jim
Beldon||Fit Lt Haig
Tyler|Sqn Ldrlohn
Peters|Gp Capt Al
Lockwood|Wg Cdr Paula
Wigmot||
|V||||||||
||Dr Michael|Wg Cdr Neil|Mr James|Ms Naomi|Fit Lt Mike|Wg Cdr Louise|Mr David|
||Fopp|Cook|Cagadine|Miles|Stubbs|Clarke|Alexander|
||Wg Cdr|Fit Lt Gary|Fit Lt Neeraj|Sqn Ldr Stuart|Fg OffJochim|Sqn Ldr Steve|Mr Bernard|
||Michael|Hornby|Kapur|Quinn|Wrang-Widen|Potter|Brown|
||Gilbert|||||||
||Mrs Sue|Sqn Ldr Mike|Fit Lt Jennie|||Sqn Ldr Jo Rowe|Miss Jocelyn|
||Hutchinson|Sewefl|Kingston||||D'Arcy|
||Air Cdre||Mr Andrew||||Mr Joe|
||Rick||Manning||||Hardstaff|
||Peacock-|||||||
||Edwards|||||||
||Mrs Mandy||Mr Bernie|||||
||Shepherd||Watson|||||
##
##
##
##
##
##
##
##
|Staff Awards||||||
|---|---|---|---|---|---|
|In 2022 we presented
the following|awards:|||||
|||Bnan Moore, Maintenrmce||Supervisor||
|Front of House Star —2022||Ania Prorok, Receptionist||||
|Heart of House Hero- 2022- Two winners||Alex Jurascuk,
The Membersh'|Cost Controller
Team|||
|Casual ofthe Year - 2022||Jan Jan Dozina,|Laundry|||
|De~ ofthe Year - 2022- Two|winners|||||
|Employee ofthe Year —2022||Harry Donnelly,|Chef de Partie|||
|Leader ofthe Year - 2022||||||
|Chief Executive Special Recognition -|2022|Svitlana
Fitkovska,
Housekeeping|||Assistant|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2022|2021|
||||Notes|f|f|f|f|
|)NCOME FROM:||||||||
|Charitable
activities||||||||
|Club income||||9,861,537||9,861,537|6,166,072|
|Donations and legacies||||||||
|Legacies||||7,197||7,197|57,334|
|Restricted
Donations|||||8,250|8,250|91,250|
|Donations
from appeals|and|Friends of||||||
|the Club||||160,259||160,259|299,666|
|Government
grant income|||||||476,835|
|Other trading
activities||||||||
|Trading activities|||7a|145,186||145,186|58,394|
|Total income||||10,174,179|8,250|10,182,429|7,149,551|
|EXPENDITURE ON:||||||||
|Charitable
expenditure||||||||
|Club operating
costs|||2|8,947,843||8,947,843|6,196,119|
|Fine arl|||2|10,850||10,850|2,042|
|Donations
made|||2|10,239||10,239|8,000|
|Other trading activities||||||||
|Trading
activities|||7a|112,951||112,951|22,744|
|Raising funds||||||||
|Fundraising
costs|||2|43,128||43,128|15,574|
|Totalexpenditure|||2|9,125,011||9,125,011|6,244,479|
|Net income/(expenditure)|before investment|||||||
|gains/(losses)||||1,049,168|8,250|1,057,418|905,072|
|Net gain/(loss)
on investment||of interest rate swap||157,084||157,084|130,505|
|Net income/(expenditure)||||1,206,252|8,250|1,214,502|1,035,577|
|Transfers between funds|||12|62,601|(62,601)|||
|Balance brought
forward||||7,733,264|61,829|7,795,093|6,759,516|
|Balance carried forward||||f9,002,117|f7,478|f9,009,595|f7,795,093|
##
##
|DECEMBER2|022||||||
|---|---|---|---|---|---|---|
||||||COMPANY NUMBER 05321353||
||||||(a company|limited by guarantee)|
|||||2022||2021|
|||Note|E||||
|FIXEDASSETS|||||||
|Tangible assets|||||10,556,350|11,334,866|
|CURRENT ASSETS|||||||
|Stocks|||86,124|||99,623|
|Debtors|||682,827|||316,918|
|Cash at bank and in hand|||3,049,669|||3,086,130|
||||3,818,620|||3,502,671|
|CREDITORS: amounts|falling||||||
|due within one year||10|(1,586,234)|||(1,738,391)|
|NET CURRENT ASSETS|||||2,232,386|1,764,280|
|CREDITORS: amounts|falling||||||
|due after more than|one year||||(3,779,141)|(5,304,053)|
|NET ASSETS|||||69,009,595|67,795,093|
|FUNDS|||||||
|Unrestricted
funds|||||||
|—Designated
funds||12|||9,002,117|7,733,264|
|—General fund||12|||||
|Restricted funds||12|||7,478|61,829|
||||||69,009,595|67,795,093|
##
##
|ROYAL AIR FO
2022|RCE CLUB CH|ARITY STAT|EMENT OF|FINA|NCIAL
POSITION AT 31in DECEMBER|NCIAL
POSITION AT 31in DECEMBER|
|---|---|---|---|---|---|---|
||||||COMPANY NUMBER 05321353||
||||||(acompany|limited by guarantee)|
|||||2022||2021|
|||Note|E|||E|
|FIXEDASSETS|||||||
|Tangible assets|||||10,556,350|11,334,866|
|Investments|||||100|100|
||||||10,556,450|11,334,966|
|CURRENT ASSETS|||||||
|Stocks||8|86,124|||99,623|
|Debtors||9|740,417|||380,130|
|Cash at bank and in hand|||2,971,494|||3,011,273|
||||3,798,035|||3,491,026|
|CREDITORS: Amounts|falling due||||||
|within one year||10|(1,565,749)|||(1,726,846)|
|NET CURRENT ASSETS|||||2,232,286|1,764,180|
|CREDITORS:amounts|falling||||||
|due after more than one year|||||(3,779,141)|(5,304,053)|
|NET ASSETS|||||69,009,595|E7,795,093|
|FUNDS|||||||
|Unrestricted
funds|||||||
|—Designated
funds||12|||9,002,117|7,733,264|
|—Genera)fund||12|||||
|Restricted funds||12|||7,478|61,829|
||||||f9,009,595|67,795,093|
##
||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||E|E|
|Cash provided
by operating|||activities||||||1,871,008|1,609,024|
|Cash flows from|investing|activities|||||||||
|Purchase oftangible
fixed assets|||||||||(102,561)|(29,421)|
|Cash used in investing
activities|||||||||(102,561)|(29,421)|
|Cash flows from|financing||activities||||||||
|Loan repayments|||||||||(1,804,908)|(67,484)|
|Cash outflow from financing||||activities|||||(1,804,988)|(67,484)|
|(Decrease)/increase|in cash|and||cash equivalents||||in the year|(36,461)|1,512,119|
|Cash and cash equivalents||at|the||beginning||ofthe year||3,086,130|1,574,011|
|Total cash and cash equivalents|||||at the end of|||the year|f3,049,669|f3,086,130|
|ANALYSIS OF CHANGES IN|||NET DEBT|||||At 1January|Cash|At 31 December|
|||||||||2022|Flows|2022|
|||||||||E|E|6|
|Cash at bank and|in hand|||||||3,086,130|(36,461)|3,049,669|
|Bank loans due
&|1 year|||||||(684,984)|280,076|(404,908)|
|Bank loans due
&|1 year|||||||(5,304,053)|1,524,912|(3,779,141)|
|Net debt||||||||(f2,902,907)|j1,768,527|(f1,134,380)|
|RECONCILIATION|OF NET|MOVEMENT||||IN|FUNDS TO NET CASH FLOW||||
|FROM OPERATING ACTIVITIES|||||||||||
||||||||||2022|2021|
||||||||||E|6|
|Net movement
in funds|||||||||1,214,502|1,035,577|
|Add back depreciation
charge|||||||||881,078|911,651|
|Decrease/(increase)|in stock||||||||13,499|(33,067)|
|Increase in debtors|||||||||(365,908)|(139,074)|
|Increase/(decrease)|in creditors||||||||127,837|(166,063)|
|Net cash provided|by operating||||activities||||jt,871,008|E1,609,024|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|2.
ANALY|SIS O|F TOTAL EXPENDITURE|F TOTAL EXPENDITURE|F TOTAL EXPENDITURE|||||
|---|---|---|---|---|---|---|---|---|
|||Charitable expenditure|||||2022|2021|
|||Club|Fine art|Donations|Trading|Raising|Total|Total|
|||operating||made|activities|funds|||
|||costs|||||||
|||6|||||||
|Staffcosts||4,764,425||||43,128|4,807,553|3,321,629|
|Depreciation||881,078|||||881,078|911,651|
|Repairs and|||||||||
|maintenance||346,181|||||346,181|204,236|
|House supplies||161,598|||||161,598|92,805|
|Fine art|||10,850||||10,850|2,042|
|Donations
made||||10,239|||10,239|8,000|
|Trading activities|||||112,951||112,951|22,744|
|Bank interest||101,092|||||101,092|135,093|
|Support
and|other||||||||
|costs||2,614,326|||||2,614,326|1,527,888|
|Governance
costs||79,143|||||79,143|18,391|
|||8,947,843|10,850|10,239|112,951|43,128|9,125,011|66,244,479|
##
|YEAR ENDED 3|1"DECEMBER 2022|1"DECEMBER 2022|1"DECEMBER 2022|1"DECEMBER 2022|1"DECEMBER 2022|1"DECEMBER 2022|1"DECEMBER 2022|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2.
ANALYSIS|OF TOTAL EXPENDITURE (continued)|||||||||||
|2021||||Chaditable||expenditure||||2021|2020|
||||Club||Fine art||Donations|Trading|Raising|Total|Total|
||||operating||||made|activities|funds|||
||||costs|||||||||
||||f||||f|||||
|Staffcosts|||3,306,055||||||15,574|3,321,629|4,203,949|
|Depreciation|||911,651|||||||911,651|970,894|
|Repairs and maintenance|||204,236|||||||204,236|183,222|
|House supplies|||92,805|||||||92,805|60,857|
|Fine art||||||2,042||||2,042|6,454|
|Donations made|||||||8,000|||8,000|1,112|
|Trading activities||||||||22,744||22,744|28,128|
|Bank interest|||135,093|||||||135,093|133,924|
|Support and other costs|||1,527,888|||||||1,527,888|1,096,715|
|Governance
costs|||18,391|||||||18,391|38,989|
||||f6,196,119|||f2,042|f8,000|f22,744|f15,574|f6,244479|f6,724,244|
|IL
NET EXPENDITURE||||||||||||
|||||||||||2022f|2021
f|
|The net expenditure|is stated after charging:|||||||||||
|Auditors'
remuneration||—audit||||||||24,675|20,400|
|Auditors'
remuneration||—other|services|||||||1,100|1,050|
|Depreciation —on owned assets||||||||||881,078|911,651|
|4.
EMPLOYEES AND STAFF COSTS||||||||||||
|||||||||||2022 No.|2021 No.|
|The average number|ofcontracts||for Full|Time and||Part Time|staff|||118|95|
|Staffcosts were as follows:||||||||||||
|Wages and salaries||||||||||4,017,303|2,833,459|
|Agency||||||||||161,288|72,768|
|Social security costs||||||||||371,718|261,717|
|Other pension costs||||||||||194,952|153,685|
|Termination
payments||||||||||19,164||
|||||||||||4,764,425|f3,321,629|
|The number ofstaff who||fell within the following|||bands were:|||||||
|f60,001 - f70,000||||||||||||
|f70,001 —f80,000||||||||||||
|f80,001 —f90,000||||||||||||
|f90,001 - f100,000||||||||||||
|f100,001 —f110,000||||||||||||
|f130001 —f140,000||||||||||||
##
##
|6.
TANGIBLE FIXEDASSET|S||||
|---|---|---|---|---|
||Freehold land||||
||and buildings||Function||
||and general||Rooms and||
||improvements|Bedrooms|Equipment|Total|
|GROUP AND CLUB|E|E|6|6|
|Cost|||||
|At 1stJanuary 2022|17,969,317|7,693,438|2,296,246|27,959,001|
|Additions|27,945||74,616|102,561|
|At 31stDecember 2022|17,997,262|7,693,438|2,370,862|28,061,562|
|Depreciation|||||
|At 1stJanuaiy 2022|7,874,985|7,185,387|1,563,763|16,624,135|
|Charge for the year|582,919|139,404|158,754|881,077|
|At 31stDecember 2022|8,457,904|7,324,791|1,722,517|17,505,212|
|Net book value|||||
|At 31stDecember 2022|69,539,358|6368,647|6648,345|610,556,350|
|At 31stDecember 2021|f10,094,332|6508,051|E732,483|f11,334,866|
##
##
##
##
|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|The Club's investment|||in the trading|company was as follows:||||||
|RAFCTC Limited||||||||100|100|
|TRADING ACTIVITIES||||||||2022|2021|
||||||||||E|
|Profit and Loss Account||||||||||
|Turnover||||||||145,186|58,394|
|Cost ofsales||||||||(36,695)|(12,793)|
|Gross profit||||||||108,491|45,601|
|Administration|expenses (net of interest receivable)|||||||(76,256)|(9,951)|
|Profit forthe financial||year||||||$32,235|635,650|
|Amount
payable|under||gift aid to the|Club||||632,235|635,650|
|Balance sheet||||||||||
|Net current assets||||||||6100|6100|
|Share capital||||||||EI00|6100|
|STOCKS||||||||Group and|Club|
|||||||||2022|2021|
|||||||||6||
|Goods for resale||||||||686,124|699,623|
|DEBTORS:Amounts||due within one year||||Group||Club||
||||||2022||2021|2022|2021|
||||||f.||E|6|6|
|Trade debtors|||||186,630||204,196|159,881|185,908|
|Other debtors|||||211,274||7,298|211,274|7,298|
|Amounts
owed by subsidiary
undertakings||||||||84,339|81,522|
|Prepayments
and accrued income|||||137,185||105,424|137,185|105,402|
|Interest rate swap|||||147,738|||147,738||
||||||6682,827||f316,918|6740,417|6380,130|
##
|YE|AR ENDED 31"DEC|AR ENDED 31"DEC|EMBER 2022|EMBER 2022||||||
|---|---|---|---|---|---|---|---|---|---|
|10.|CREDITORS: Amounts||falling due|||Group||Club||
||within one year||||2022|2021|2022||2021|
||||||E|E|E||E|
||Bankloans||||404,908|684,904|404,908||684,904|
||Trade creditors||||288,330|304,186|288,330||304,133|
||Other creditors||||48,447|93,148|41,791||88,356|
||Amounts
owed to subsidiary|||undertakings||||||
||Other taxes and social|secudty|||552,700|381,474|539,971||375,824|
||Accruals and deferred|income|||291,849|265,333|290,749||264,283|
||Interest rate swap|||||9,346|||9,346|
||||||61,586,234|61,738,391|61,565,749||f1,726,846|
|11.|CREDITORS: Amounts||falling due|||Group||Club||
||after one year||||2022|2021|2022||2021|
||||||E|E|E|||
||Bank loan||||63,779,141|f5,304,053|f3,779,141||f5,304,053|
||Analysis ofbank loans:|||||||||
||Amounts
falling due:|||||||||
||Within one year||||404,908|684,904|404,908||684,904|
||Amounts
falling due:|||||||||
||Between one and two years||||3,779,141|684,904|3,779,141||684,904|
||Between two and five|years||||4,619,149|||4,619,149|
||||||63,779,141|65,304,053|63,779,141||f5,304,053|
##
##
##
##
|The income
following:|fu|nds ofthe|Club include u|nrestricted
and res|tricted funds|comprising
ofth|e|
|---|---|---|---|---|---|---|---|
|||||As at|||Balance at|
|||||1January|Net|Transfers|31December|
|||||2022|Income /|between
funds|2022|
||||||expenditure|||
||||||f|||
|Unrestricted|funds:|||||||
|General fund|||||1,192,029|(1,192,029)||
|Designated
funds:||||||||
|Fixed asset fund||||7,588,241||1,209,630|8,797,871|
|Legacy fund||||114,519|7,197|(87,754)|33,962|
|Friends ofthe RAF Club|||||105,630|30,000|135,630|
|Fine art and|stained window||fund|6,504|(10,850)|15,000|10,654|
|Staff welfare||||24,000|(87,754)|87,754|24,000|
|Total designated||funds||7,733,264|14,223|1,254,630|9,002,117|
|Total unrestricted||funds||7,733,264|1,206,252|62,601|9,002,117|
|Restricted funds:||||||||
|601 Squadron|—Victoria aar||refurbishment|61,829|8,250|(62,601)|7,478|
|Total funds||||f7,795,093|f1,214,502||f9,009,595|
|||||As at|||Balance at|
|||||1January|Net|Transfers|31 December|
|||||2021|Income /|between
funds|2021|
||||||expenditure
f|||
|Unrestricted|funds:|||||||
|General fund|||||889,035|(889,035)||
|||||Designated
funds:||||
|Fixed asset fund||||6,693,785||894,456|7,588,241|
|Legacy fund||||57,185|57,334||114,519|
|Fine art and stained window|||fund|8,546|(2,042)||6,504|
|Staff welfare||||||24,000|24,000|
|Total designated||funds||6,759,516|55,292|918,456|7,733,264|
|Total unrestricted||funds||6,759,516|944,327|29,421|7,733,264|
|Restricted funds|||||91,250|(29,421)|61,829|
|Total funds||||f6,759,516|f1,035,577||f7,795,093|
##
|ANALYSIS|OF NET ASSETSBETWEEN FUNDS|||Non-current||
|---|---|---|---|---|---|
||||Net|Assets/||
|||Fixed assets|Current assets|liabilities|Total|
|GROUP AND CLUB||6|6|6|6|
|Restricted|funds||7,478||7,478|
|General fund||||||
|Designated|funds —fixed assets|10,556,350|2,020,662|(3,779,141)|8,797,871|
|Designated|funds - other||204,246||204,246|
|||610,556,350|f2,232,386|(63,779,141)|f9,009,595|
##
##
||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2021|
|||||Notes|6|6|6|
|INCOME FROM:||||||||
|Charitable
activities||||||||
|Club income||||1|6,166,072||6,166,072|
|Donations
and legacies||||||||
|Legacies|||||57,334||57,334|
|Restricted
Donations||||||91,250|91,250|
|Donations
from appeals||and Friends of|||299,666||299,666|
|the Club||||||||
|Government
grant income|||||476,835||476,835|
|Other trading activities||||||||
|Trading
activities||||7a|58,394||58,394|
|Total income|||||7,058,301|91,250|7,149,551|
|EXPENDITURE ON:||||||||
|Charitable
expenditure||||||||
|Club operating
costs||||2|6,196,116||6,196,119|
|Fine Art||||2|2,042||2,042|
|Donations
made||||2|8,000||8,000|
|Other trading activities||||||||
|Trading
activities||||7a|22,744||22,744|
|Raising funds||||||||
|Fundraising
costs||||2|15,574||15,574|
|Total expenditure||||2|6,244,479||6,244,479|
|Net income (expenditure)|||before investment|||||
|gains/(losses)|||||813,822|91,250|905,072|
|Net loss on investment|of|interest rate swap|||130,505||130,505|
|Net (expenditure)/
income|||||944,327|91,250|1,035,577|
|Transfers between
funds||||12|29,421|(29,421)||
|Balance brought
forward|||||6,759,516||6,759,516|
|Balance carried forward|||||67,733,264|f61,829|f7,795,093|
##
##