2024-03-31-accounts

Reglstefed number.. 05397840 Charity number: 1108989 ESSEX & HERTSAIR AMBULANCE TRUST (A company Ilmited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ¥ADIA￿35+ 1911212024 COMPANIES HOUSE

ESSEX & HERTS AIR AM8ULANCE TRUST (A company Ilmlted by guaranleo) CONTENTS Pago Aetefence and admlnlstratlve delalls ol the Company, Its Trustees and advlsers Chalrman's statement Tru*t•os' report Independent audllor's report on ihe flnan¢lal 91at•m•nls Consolldated slatem•nl ot Ilnanclal actlvllles 5-20 21.24 25 Consolldated balance sh••1 26 Company bol•nc• 3ha•t Consolldoled statemenl ol cash Ilo 27 28 Noteg to Iht Ilnanclal slalemenl$ 29-52

ESSEX & HEFITS AIA AMBULANCE TRUST (A company Ilmlted by guaranlee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOH THE YEAR ENDED 31 MARCH 2024 Tru8lees Jonathan Trower. Chairrnan Darren H8￿Ward Annalisa Ridsdill Smith (Retired 20103124) Dr Fèmzi Fielj Clive Gilharn Roy Marfleet Claire Smilh Andrew Tunningley Ellisa Estrin Michelle Tennens Company reglsl•rad number 05397840 Chawlty reglslered number 1108989 Registered offlce Flight House, The Business Cenlre, Earls Colne Business Pafk Earls Colne Colchesler Essex C06 2NS Webs110 addres8 wvM.ehaal.org Company secretary Brenda Playford Ex•¢uliv• Toam Jane Gurney - Chief Execuliva Oflicer Dr Gareth Oavies - Senior Medical Advlsor (appotnled 1 W06123) Dr Tony Joy - Medical Director Pam Wilhringion - Fundraising and Markeling Director Jonathan Ag8r - Finance Direclor Paul Curtis - Aviation & Operalions Direcloi (until 26103124) Lindsey Tuley - People & Workplace Dire¢lor (appointed 04110123) Independent audilor Crowe U.K. LLP Riverside House 40 - 46 High Streel Maidstone Kent ME14 IJH Bankers Barclays Bank Pl¢ 40 High Street Chelmsford Essex CM11BE Page I

ESSEX & HERTS AIR AMBULANCE TAUST (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITSTRUSTEESAND ADVISERS (CONTINUED) FOA THE YEAA ENDED 31 PAARCH 2024 SolScitorg Nockolds LLP Market Square 8ishop's Slortford CM23 3UZ Inv8Stmenl manager LGT Wealth Managemènt 14 Cornhill London EC3V 3NR Page 2

ESSEX & HEATS AIR AMBULANCETRUST (A company Ilmiled by guaranlee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Chalrnian's Introductlon l arn pleased to report Ihat the Charily had a very successful year lo 3181 March 2024. during the course of which much was achieved and several challenges met. Fiistly. and mosl irnportanlly, we continued lo provide our firsl-class, Iree-of<harge, pre.hospllal em8igency medical seNice across Essex and Hertrordshlre. OLJr seNice5 were as much in demand as they ever have been. as the following table demonstrates. 2024 1,088 547 835 165 2023 Medical Emergency Road Trafftc Collision Other Trauma Other Mission Types Total 1,040 573 859 144 2.635 2,616 During the year we continued with our inltiatNe lo create a Centre for Excellence. As described in last year's report, our vision Is to build a leadlng research and education centre Ihrough which improvements in pre-hospital care are developed In order to achleve the best outcomes for people in our region arKI beyond. We have made several key appoinlments during the year and have embarked on a number of excitlng projecls. These include research into the use of virtual reality technology in Ihe pr&.hospilal environment, a schools CPR Champion programme and research into pre-hospital head injury care , the last ol which, has seen littlg change In oulcomes over ihe last 30 years. We are also focusing on how we can Iranslale the activity of the Centre for Excellence into our operational work for the benefii of our patients across Essex and Hertfordshire. In December 2023. along wilh three other Air Ambulances, we were made aware Ihal Specialisi Avlation SeNices Ltd ISASI, who supply and maintain our aircraft logelher with providino the pilots and co-pilots, were al imminent rlsk of going inlo Administration bul that negotiations were under way lo sell Ihe business 10 GAMA Aviation Plc. An already complex situation was compounded by the tact that the second aircraft we had ordered through SAS in May 2022 was due to be delivered in January 2024 ready lor its medical lil out, also to bp undertaken by SAS. l am pleased to report Ihat ullima181y neooiiations proved successful and, having considered all options available lo us, we novaled our existing contracts with SAS across lo GAMA upon their acquisilion of the SAS business. This included those for the supply and fit out Ot Ihe new aircraft. which has now been operational from June 2024. l am pleased io note Ihe possibility ol a key aviation supplier ooino inlo administration had loimed part of our risk register which meant Ihat we weie as prepared as we could be to deal with Such an event. Our new contract wilh GAMA allows us lo continue with our strategy ol ulllmaiely operaling under our own Air Operators Certilicale IAOCI. This will mean Ihal in the lulur8 we will have greater control and be less exposed to changes in Ihe market place such as we experienced wilh SAS. We have employed the services of an experienced consultant lo guide us through the process of oblaining an AOC and anticipate this to be In place by 2026. The Charliy embarked on a joinl inilialive wllh Iwo other local air ambulance charities to appoint a Regional Helipad Champion whose objective is to improve the availability of night hospilal helipads In the region. There are curreniiy no Major Trauma Centres Ihal can be accessed by helicopter ai night within Essex and Hertfordshire. Furtherrnofe the current number ot hospiial helipads Ilial can be used at night within Ihe region is very limited. The Charity Wlshes to improve this posilion, ensuring our patients have access lo the same network of hospitals by day or night. Unfortunately, our fundraising has been Impacied by Ihe cost of living crisis through lower levels of individual donations coupled with a slowdown in sign.ups to our Flight for Life Lottery, our biggest single source of income. Despile this difficult economic environment, l am pleased to note Ihal we have seen a turnaround in our relail business with operalional changes iesulling in sales increasing by 43.4V• over the previous year. We will seek to buikl on this success and look for suilable retail premises in the region to conlinue to open more charity shops. Page 3

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDEO 31 MARCH 2024 As well as being a direct source ol income for Ihe Charity, Ihe shops help 10 increase awareness ot the Charity and its work throughout the region. l am pleased lo report that EHAAT yel agaln demonslraied its financial resilience during the year. culmlnatlng in an Operating Surplus ot £3.8m and overall reserves 01 £52.8m al the year end. Our Operating Surplus beneliled from one exceptional legacy of£2.Im whilst our inveslmgnl Portfolioalso saw uncrystall8ed galns of £2.1m, lurther boosilng our reported retained reserves. Our reserves comprise both restricted reserves and unrestrrcied reserves. Unreslricled reserves are available lo be speni on any ol the Charity's purposes. Unresiricled reserv85 include bolh tree reserves and reseNes deslgnated for purposes such as the set-up costs lor the Cenire lor Excellence. Due to the life.saving nature ol our work, the Trustees take a cautious approach with regards to rgserves, as closure ol the service would be potenlially catastrophic to Ihe public we serve. Our ReseNes Policy is lo hold between 12 and 24 months of Iree reserves lo saleguard the operation of our service lor a prolonged perioé ol lime should our income fail as a consequence ol an unexpected evenluality. At the year end, sutticient fr88 reserves were held lo tund 18 monlhs ol lorecast expenditure,, The reserves policy is reviewed annually by the Trustees lo ensure Ihal any new or changed legislatlon or guidance is incorporated and 10 consider any hanges in the clrcufflsiances ol Ihe Charity. Our linanclal results demonstrate that we continue lo be well supported by Ihe people ol Essex and Hertfordshlre and in spile of difficult economic environment that we have continued lo pursue our Strategy ol owning and conlrollSng all of our importanl assets, seeking our own AOC In the medium term whilsl also investlng in our Centre lor Excellence. We hava proved yei again our abilily 10 weather external difficulties, such as the financial collapse of a significant supplier. Howevgr, we lake nolhing for granted and we know Ihat we must continue lo earn the loyalally ol our Supporters by Ihe work that Is undertaken by our Executive Team and OLJf slaff every day of the year. Therefore, finaily, I would like to thank the Execullve Team, all ot our slaff and our volunteer$ lor thelr hard work and dedication, and to thank my fellow Trustees for their service and support. A special thank you goes to Anni Flldsdlll Smlth who retired as a Trusiee after almost 13 years on the Board. Her experience and valued knowledoe ol the Charlty is not belng lost to u5 however, as she will joln our Development Board in order lo assisl with the groW(h of our philanlhiopic giving programme. Jonolhan Trower Chairman Date.. 2q/ii14 Page 4

ESSEX a HERTS AIR AMBULANCE TRUST (A company Ilmlted by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Wilhin the Trustees, Report is the Strategic Report, required undef Seclion 414c(11 } ol Ihe Cornpanl88 Act 2011. Slruelur¢, Governance and Management Thg Trusleas. who are also Direclor8 ol thè Company lor Ihe purposes of the Companles Acl, submll their annual report and the audited financial statements for Ihe Group lor the year ended 31 March 2024. The Board confirms that Ihe Trustees, Report and linancial slalemenls of Ihe Group compty with current slalutory requirements, Ihe requirements of the Charity's governing document and the provislons ol the Slatemenl of Recommended Practice (SORPI 'Accounling and Reporting by Charilies, issued in July 2014 (FRS102 SORP 2015>. Govomlng Document Essex & Herts Alr Ambulance Trusl {EHAAT or the Charty) is a company limited by guaranteo and was Incorporated on 181h March 2005. It is governed by its Arts'cles of Association, which were lasl amended on 22 March 2018. In the evenl of the Charity being wound up, Ihg liability in respecl ot Ihe guarantee Is limlted to £1 per Member (the rnernbers being Ihe Truslees). b) Appolnlmenl of Tru8lees Trustees are selecled by relerence to a malilx of skllls and experience that has been establlshed to ensure Ihal the Charily's objectives can be met. The rnatrix includes clinical, budgeting and finance, legal, fundraising, mart(eting, commerclal sales, publlc relations, IT, HR management, community and voluntary sector expertise, risk and strategic planning. New Trus18es are given an Inducllon pack al an orlentatlon meellng to brlel Ihem on both the Charlty and Ihelr leoal obligalions under chaflty and company law. 11 includes Ihe Articles ol A$so¢ialSon. a Outies ot Charity Twslees booklel, and strategic and business plans. W8 also arrange lor Ihem to meet the CEO, Execulive Team and the wider staff sperKling a day al the head office. Trustees are given 8pe¢ilic Charity information as well as external training. There is currenlly no upper limit to the time thal an indfvidual can be a Tfuslee. bul one-third of all Trustees are required lo relire by folalion each year and, il willing to continue. otler themselves for re-eleclion. Values Our aclions are guided by our values - p•s•lon819 in 9oln9 the exlra rnile: pio10381onal in Iroating everyone as they would wish to be trealed: Innovallve in driving fop•vard best clinical practice.. truslworthy in working oponly and honestly: dedlcated because we care aboul the cause, our patlents and each olher; and Incluslve in Ireaiing everyone in Ihe way whiGh we ourselves would like lo be Irealod. d) Organlsatlon The Board ol Trustees which governs Ihe Charity can have up lo ￿e1ve rnembers there were ten ihroughoul Ihe flnancial year unlil 201h March 2024 since when ther8 are nine Truslees with a quorum requirement ol live al all meelsngs. The Board mel five Ilmes during the perlod under reV￿w. The Truslees delegale Ihe day-to.day management ol the Charity lo an Executive Team by rneans of a formal Scherne ol Dglegalion. Committees comprised of both Trustees and Execulive Team members are eslablished where necessary to advlse the Boafd on various straleglc matters. There were five in operation during ihis iinancial year and they are listed below. Page 5

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmited by guaranlee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CommllleelGroup nveslment Advisory Committee Trustees ndrew Tunningley (Chair), Jonathan rower, Clive Gilham live Gilham (Ghair), Andrew Tunnlngley, Michelle Tennens Darren Hayward (Chair), Jonalhan Trower, laif• Smith (Replacing Annalisa Ridsdill milh lalre Srnilh (Chalr). Roy Marlleet udil and Rlsk Committee ominations Committee Relall Advlsory Commlttee linical Committee Ramzl Freij (Chairl, Jonathan Trower, Ellisa Estrin Pay policy for senior 81afl The Trustees consider Ihal the Board ol Twstees and Ihe Ex8CUtlve Team (as detalled on page 1) comprlse Ihe key managemeni personnel of the Charity. Truslees are not remunerated. The pay, relaled policies and annual remuneration of the Chiel Executive Olllcer are declded by Ihe Truslees, whilst the pay lor the remainder ol Ihe Execultve Team is decided by the Chief Executive Officer after consullalion witl) the Trustees. When setting remuneration levels. Ihe Charity aims to slrike a balance betr*veen market.appropriate pay, the need lo attract and retain pèople wilh the required skills and our donors, expectallon5 Ihat Ihe money which Ihey enlru8t us wilh will be used wlsely io provlde a Ilrsl-class hellcopier emergency rnedlcal service. It is cenlral lo achieving our obj9¢1ives Ihal the Charity can attracl and Tetaln hl9h-performing $enlor leadershlp. Remuneration may vary depending on the job type, its complexity and the range ol aclivities undertaken. It is valldated objecllvely using market comparators such as salary survey data Irom charitable, private and publlc sectors as required. Independeni advic8 from suitable third-party professionals is also sought where deemed to be necessary. Coupled with benchmarking against compafable Air Ambulance charille$ and other Ihird sector organisations. We are committed lo lalrne5s in our remuneralion practices and lollow these guiding prlnciples,. Proportionallty- lairness and conslstency In Ilne wlth approprlale benchrnarks Rewarding Performance- ensuring an individuat's remuneialion is comrnensurate to their pertormance and personal Contribution lo the Chafity Recruilment and Retenlion - enabling u5 to attract and retain valued siaff Expertise and Experience- ensuring it is appropriatg lor the rolg Transparency- op8nness and clear communicalion about the process undertaken when setting remuneration levels across the organisation i) Stru¢lurn The Charity has four wholly owned subsidiaries.. Essex & Hert$ Flight lor Life Lottery Limiled. Essex a Herts Flight lor Lile Lottery Operations Llmiled, Essex & Herts Flight lof Life Lottery Critical Care Lirnri8d and Essex & Herts r Ambulance Trading Limited The principal purpose ol the lirst three substdiaries is lo operate weekly lotteries logether with rafflès and Ihal ol Ihe lourth is lo conduct Ihè Charity's trading aclivilies. The Prolils of all companies are donated lo Ihe Charity under a Deed of Covenanl. Following a change in legislalion the lottery and raffles now operate under a single licence held by Essex & Herts Flighl for Life Lottery Limiled. This means that Essex & Herts Flight lor Lile Lottery Operalions Limited and Essex & Herts Flight for Lite Lottery Critical Care Limited ceased trading and have been dormanl lor the financial year. Page 6

ESSEX & HERTS AIR AMBULANCE TRUST (A Company Ilmltod by guarantee) TRUSTEES, REPORT,. (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 g) Code of Governan¢È The Trustees look lo promote good governance ihroughout Ihe Charity, contlnuing to ensure we operate, where applicable, in line wilh best practice as Sel out In the Charty Code ol Governance. Particular focus this year has been on Principle 6- Equalty, Diversity and Inclusion, where we undertook a worklorce audit, Introduced a new recruitment policy wilh the objective lo rem¢ve unconscious bias Irom the process and embarked on Investors In People accredilation. h) Related Port1•* Trustees and Members ol Iha Executive Team are the people who can control or signilicantly influence our Charity. and so they dlsclose their inlerests in a reglster which is reviewed annually by the Board of Tfuslees as a whole. In addition, Ihere are occasional Iransactions which direclly Involve individual Truslees. and when Trustees consider these arrangements, the relevant Trustee leaves Ihe Board Meeting for such business. Ail such transactions whlch arose during ihls flnancial year are dlsclosed In th18 annual report wilhin Note 26. Objectives and Actlvlllès a) ObJe¢lives Tho objective ol the Charity is to assist in relieving pain and sickness by the operation of a pre.hospital emergency medical service for the counties ol Essex and Hertfordshire and surrounding areas. The serV￿e is provlded mainly by helicopiers with addilional fapld response vehicles being used when necessary. The Charity may also peflorm such other charitable purposes lor the relief ol pain and sickness consistent with this objeclive as Ihe Trustees shall delermSne al Iheir discrelion. b) Publlc Benelll The Trust provides a free ol charg8, pre-hospital emergency Clinical servlce that assists people in Ouf geographlcal area, and adjacent areas, wlth serlous Illness or injufles and he1p5 save lives. In shaping the objectfves ol the Trust lor the year and planning our aclivilies, the Truslees have considered Ihe Charity Commission's guidance on public benelil. Acllvllle8 Essex & Herts Alr Ambulance. unlike the NHS emergency servlc85, 18 a charlly provldin9 HEMS lor the crltically ill and injured of Essex. Hertfordshire and surrounding areas. Our lundraising activltles are planned to optimlse our Income lo lund this lile-saving service and build th8 Chaiity's brand awareness. Transparency and good governance are recognised as being essential to rnalntain the Irusl and Support ol members ol the publlc and Iheir resulling finarKial generosity. Page 7

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmited by guarantee) TFIUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Sliaieglc R•porl Achlov•ment3 and Performance Operatlons In March 2024, we took delivery ol a new AW169 aircraft lo replace our leased MD902 and operate frorn our Earls Colne base. Following delivery and before becorning operational, this air¢iaft tsnderwenl a 12-week medical lit-out lo equip il Wlh Ihe same specialised medical equlpment as our exlstlng AW169 al North Weald. The aircraft was ini15ally ordered through SAS in May 2022, wilh an expected delivery in early January 2024 and operational readiness by March 2024. However, SAS'S linancial difficulties and sale lo Gama by way of a pre-packaged admlnistralion complicaled the situation, prompting us lo work d1l1gen￿Y wllh all parties to secur8 Ihe delivery ol the aircraft wilhout exposing Ihe Charity to linancial risk. The potenttal financial collapse ol SAS had been on our risk regisiar lor sèveral years and recently had been ideniilied as the highest risk. Consequenlly we had prepared exlenslvely lor various possibl8 outcomes in Ihls regaro. SAS'S financial difficullles could also have jeopardlsed the operalion ol our exlsling AW169 based at North Weald and our leased MD902 based al Earls Colne. However. as part of our transition plan to Integrate a second AW169 into service, we had arranged for Ihe early lerminalion ol the MD902 lease. A pre.existing agreement was in place lo return Ihe MD902 to SAS in December 2023, while we chartered another aircraft on a short-lerrn basis Irom an alternative suppller, Sloane Hellcopiers Ltd. Therelor8 ihe risk to our Earls Colne operation was mltlgated whilst we were able lo move Ihe contract lo operate our existing AWI 69 to Gama thus also milwaling the risk lo the continuity of our North Weald operation. The new AW169 significantly enhances our operational capabililies. It is faster, has a higher payload capacity, and boasts greater fuel endurance cornpared lo the MD902 il replaces. Both AW169 aircraft are maintained by Gama, which aiso supplies pilots and co-pilols. Our new contract with Gama15 consistent wilh and supports our slrategic plan to ultimately operate under our own Alr Operator's Cerlificate (AOC). and we will collaborate wlth Gama on thls pathway to AOC independence. We continue to strengihen our partnerships with EEAST and the wider NHS Ihrough regular meelings and inlormation sharing on best practices. Thi5 ensures EHAAT remains at the forelront of pre.hospital care delivery In Ihe region. EHAAT also collaborates closely with other alr ambulance charilles. This y8ar, we launched a jolnl inilialive with Iwo local air ambulance charities lo appoinl a Rogional Helipad Champlon. This role aims to improve Ihe avallabllity ol nighl hospltal helipads in Ihe reglon. Currently, no Major Trauma Centres are accessible by helicopter al night within Essex and Herllordshire. With such a limiled number ol hospital helipads available al night in our reoion, we are also addressing this issue with local MPS and nationally Ihrough AAUK. EHAAT continue to operale lour Volvo XC90s as RR Vs, which go on-line when th8 hellcopter shift lime ends. when the weather is loo bad lo fly, or when the helicopter8 require serrflcing. This allows the tearns lo continue to respond lo inci¢Jents In the reglon Irom our North Weald and Earls Colne bases when the helicopters are unavailable. Last year, EHAAT Team5 responded lo 1.166 incidents using the RAVS. The EHAAT Critical Care Teams have seen another small Increase In the toial number ol aclivaiions over Ihe previous year as seen below. with an Increase in helicopter activations but a small lall in RFIV activalions Page 8

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlted by guarant•e} TAUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Operalional perlormance dala provides Ihe following resulls: Activations Helicopier RRV 2C(I 400 600 800 1.000 1,2LX) 1,41)0 1,600 2024 • 2023 Mis iont Mission Types Medlcal emer8ency Road traffic collision Othoi vauml Other mi55i¢)n types 200 400 800 iooo 1200 PI 2024 • 2023 tion l ulcome Operatlonal Outcomes Stf*ddown Yr••iqdbuto(bi rfftved CoTh¥eyed iohowiial rslQ14 •2023 Pa9e 9

ESSEX & HEATS AIR AMBULANCE TRUST (A Mmp#ny Ilmited by guaranlee) TRUSTEES. REPORT (coMfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 b. Clinlcal In January 2024. Dr Tony Joy siarted substantively as Medical Director having worked an interim MD slnce June 2023 and prior to Ihal as a Govefnance Lead & Consullanl slnce 2017. He has also been a Consultanl In Emergency Medicine al The Royal London Hospital slnce 2014. Or Garelh DaV￿S conlinues to support the senior linical loadership team as Senior Medlcal Advisor. Both Dr Joy and Dr Davies have worked closely with Ihe Charity lor a nurnber ol years and bring much experience in Clinical leadership and prehospitsl service development. A new Clinlcal Sleerlng Group was lormed In late 2023 wilh a numbér of key new roles appolnled to thls cllnical leadership group including internal appointrnenls to both Clinical Delivery Loacl and Clinical Lead posltions. The Clinical Sleerlng Group meets rnonlhly lo oversee and shape the clinical stralegy. Alongslde Ihl$, the clinical leadership team has also Introduced monlhly Clinical Forum meetings which allow the whole clinical learn to conlribute and participate in clinical quality improvement and developmenl. We have also created new Team Inset Days whlch lake place elght limes per yeaf and allow the team to undertake a deep exploration ol clinical topics to help ensure EHAAT mainlains ils place al the lorelront of prehospitsl critical care provislon. In order lo Iyefine key Clinical workstream5. we have lormed len Special Interest Group whlch bring iogelher experience and enlhusiasm from wilhin the cllnical team lo develop our praclice in the lollowing areas., Head Injury Cardiac Arrest Clinicopalhological correlation Anaesihesia & analgesia Tasking & transfers Silver trauma & frairiy 81eeding patients Paediairics & obsteirics Cllnical dlagnostics Environmental illness Ilnlc Our function is to provlde hlgh quality crllical eare to our communities across Essex & Hertlordshlre. Over Ihe last twefve months we have been lasked to 2,673 missions. trealing a tolal of 1.901 patients. Our team lake the hospital to the palient and are familiaf wlth Ireatlng palients In all environments: roadsides, residential properties, remote rural localions. building sites, ni9htclubs, beaches and $0 on. Our patienls are usually either crilically injured or have sullered a severe medical evenl such as a cardiac arresl or other critical illness. The EHAAT doclor-paramedic team not only bring expert clinical leadership and enhanced decision-making to support our colleagues from tho ambulance service IEEAST) bul are also able lo deliver medical inlervenlions such as anaesthesia. emeroency surgery lo Ihe chesl. blood transfusion and many other advanced treatments normally only deliveied by hospilal specialists. Wilh our helicopters and RRVS Ihe team arè able to provide cover 24 hours a day and also ensure Ihat transport ol patients to the fight hospital can be facilitaled the most safe and timely way. We have been working hard to Collaborate with our hospital partners in the region. With two Major Trauma Centres (MTCS) in our region, and a specialisl Cardlo-Thoracic Cenlre al Basildon Hospilal, it is essential that we work in partnershlp to ensure smooth Iransitions ol care into the most appropriale feceiving hospital. Where lime<rilical interrfentions are requlred, we work wilh our partners lo ensure smooth and seamless clinical pathways for the patients that need it mosl. Examples ol recenl developments include gaining 24 hour access to Cambridge Page 10

ESSEX a HERTS AIR AMBULANCE TRUST (A company Ilmlted by guaranlee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 University Hospital at Addenbrookes and access for specialist cardiac bypass treaiment {ECMO) for certa'n patients al Harelield Hosptlal. We continue lo develop Ihe service lo ensure Ihal our patients receive the mosl compassionate and expert care possible. In 2023 we inlroduced a 'bundle ol Care, for head-injured patienls and introduced a number ol new clinical interventions including Ihe placement of arterial lines for invasive blood pressure monitoring lor some critically ill or inlured patients. This also incorporal8d new syringe driver devices that can conlinuously inluse speciali81 medications to provide organ support. Alongside this, we introduced new slale-ol-the-art ullrasound devices lo 6UPPOrt the diagnostic capabllity of our learn. We also continue lo wovide prehospilal blood Products to fftose with conlirmed or clinlcally suspected haemofrhage who require a Iransfusion. A tolal of 82 patien1$ have required a prehospllal blood Iranslusion Irom EHAAT in the last year. I'nul Tea Our clinlcal ieam l)as conlinued to grow as the 8eTrice has developed acioss both bases and to provide 24 hour cover. Our clinical operation provides a pre-hospital care docloT and Critical care paramedic on each shift. This year we completed highly compelilive recruilrnenl ol both Criti¢al Care Paramedlcs and Flight Doctors to the team. The Critical Care Paramedics are a core and essential eloment to Ihe provision ol care lo our palient gioup. Seconded Irom EEAST for live years following a collaboralive recruitment process, they are key in supporting and developing our service as well as providing conlinuity lor the Flight Doctor cohorl who are generally only with us for twelve month sKondmenls. Our Flight DocloTS secondmenls are filled until laie 2026, with applicants Irom across the UK, Europe, North America and Australasia. Alongslde the core Flight Doctor and Critical Care Paramedlc roles, we also have a wlder group of emeritus clinlcians. Prehospllal Care Consultants and manager8 that provide clinical supervision, IrainSng and seNice provision. EHAAT remains cornmltted to the national Prehospilal Emergency Medicin8 {PHEM) programme and we provide liaininp io several PHEM Irainees to support them in becomlng the PHEM Consultants of the future. As is essenlial lor a healthcare organisalion. we constantly review, monitor and learn Irom incKlents Ihrough our Clinical Risk and Salety Committ8e. The Clinical Risk and Safety Committee (CRSCI has representatives Irom all areas ol thè ¢linical and operational departmenls. The commlrtee meet monlhty lo discuss all reported Incldenls. which can include clinical, equipmenl andlor administrative issues. Through this process, we are able lo identify trends or themes to prornote Ouf safety culture. Output and recommendalions are then published via our safety managemenl System, Radar. and we are able to ensure Ihal leamln9 and education Is dellvered which In lurn maintains and improves Ihe salety ol our clini¢al operation Ire for The developmenl ol the Centre tor Excellence has continued throughoul 2023124 wilh several new roles established. Across the three areas on which our research and educatlon is concerned, namely Head Injury, Cardiac Arrest and Palienl Experience & Oulcomes, there has been a rapidly developing portlolio ol activlty. Much of this work translates directly into operational improvements lor the clinical ieam io adopt in order to provide cutting edge care lo the people ol Essex & Hertlordshire. However, the Centfe lor Excellence's vision extends wider, wlth Ihe opportunity lo push the boundaries ol prehospital care through our Research & Scholarship, Innovation. Education & Training and Community programmes. We have delivered a number ol course5 and masterclasses covering topics across Head Inlury, Cardiac Arrest & Patienl Outcomes & Experienc8. We have also delivered several Core Clinlcal Courses lor our clinicians, exlernal training lo EEAST, and in April 2024 delivered a six-day Prehospilal Care Course al the North Weald base which brought logelher a large Iralning faculty as well as ¢onlributions from staff members and volunleers across the charity. This course was a great 5u¢Gess wilh very posrtive feedback from candidates that reflected Ihe passion of the Cenlre for Excellence team in delivering world class edu¢aiion. Page11

ESSEX & HERTS AIA AMBULANCE TRUST (A company Ilmlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAACH 2024 Research and scholarship activity are Inlegral lo EHAAT. In 2023124 a rwmber ol peer revlewed loumal artlcles have been published. atongside further presenLqtions in various academic lora. One ol EHAAT'S longstanding Critical Care Paramedics has commenced a PhD al EHA4T looking at specialisl aspects wilhin the field ol head inlury. worklng under the supervision ol our clintcians. and collaboralively wilh the Centre lor Trauma Sciences of Queen Mary University, London. Following a compelitive application process, EHAAT has also been $L￿essIu1 In bein9 awarded a prestiglous Vlce Chancellor's Scholarship for another PhD student who will commence in late 2024. Better underslandlng pallent outcomes & experience is fundamenlal to all the work we do in clint¢al Care. In Ihe last year we have made great strides in gaining improved access to data regarding pallent outcomes Includlng providlng our clinical team wilh access lo the NHS summary records for our patients. We have al80 worked to embed a teedback mechanisffl IPHEM Feedback) for palients that are taken to 8asildon Hospital. We ¢onllnue to develop our Schools CPA workstrearn and have provldad CPR Iralnlng to hundreds of school children Ihrough Ihe CPR Champlon pllot programme. As Ihis workstream gathers momentum we will support an Increasing number ol schools in Essex & Hertlordshire wilh CPR Iralnlno. including the loan ol training equipment and mannequins 10 enable some children lo access iraining that would otherwise nol be available. We are recruiting a Virlual Reality fellow in partner$hlp with colleagues at Medical Realities - Ihis 8XClting role will help us explore new training opportun1118s using cuttlng edge lechnology and allow us lo maximise Ihe potenlial lor our CPR programme. Our Paiient & Family Lialson (PFL) team provide an essenllal supportNe interlace lor our patienls and their relatives in Ihe aftermath of dgvastating injury. illness or death. The PFL leam ar8 busy across Ihe large geographical area which EHAAT serves. helping patients and their lamllies in both tho early phases ol coming to terms wilh what has happened and also providing conlinuily ol aftercare for those that require it. Their service brings heighten8d compassion, thoughtlulness and rellection to Ihe palient journ8y alongsld8 the 'lrcntlin8 linicians,. The PFL leam led a large Paiieni Day In 2023 and continue to develop Ihls esseniial fun￿lOn lo rnaximlse ltte support that we can offer. Every Tu8sday. we continue to hold Death & Dlsability (D&D) case review meetings at our North Weald airbase which provides our clinicians wilh a whole day of rellects've learning and enables our oovernance learn to assure the high quality of care provided at EHA4T. These D&D days are lurther complemented by input from a forensi pathologist. who is working wilh EHAAT lo provide Clinicopathological Correlallon - using post-mortem findings lo leam from palienl cases who died. Our D&D days remain a pillar of clinical govarnance and each is chaired ty one ol our governance consultanls. Every ihree months. we also host a Cllnlcal Governance Day al North Weald. Thi5 is an extemal rneeling which brings in expeiience and inpul Irorn the widpr Gommunity and locuses on clinical areas ol interesl. We also discuss (In conlidence) clinical cases where there are Interesting discussion and learning points that pertain to the theme for the day. We are pleased lo be able io host these well-attended days al our North Weald facilty, helping io further raise our profile and build partnerships with colleagues across the seclor. Page12

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Care mmisslon Buildino on the 'Outslanding' inspecllon results from 2022 is importanl for EHAAT. We conlinuously stTive to loster a culture where high quallty care is deltV8red by our teams to our patlenls at Ihelr polnl of need. We continue lo engage with Ihe CQC and have actively been working io ensure conlinulng compliance with regulalory standards and lo the recent changes lo regulalion and moniloring processes. We continue lo monitor standards inlernally through our governance system and audits. Patienl experience remains at the torefronl ol our servic8 delivery and we continue lo irnprove care delivery and palienl oulcomes. The Quality Assurance Working Group meet regularly lo identity and discuss changes or challenges Ihal might aflect serwlce delivery. c. Fundralslng Over the pasl year, we have celebraled many milestones, nolably our 251h annlversary - a significant achievemenl that und6rscor8S OU( journey and impact since our slory began in 1997. Thls landmark year not only presenled opportunllies lo look ba¢k al past su¢cesses bul also lo press ahead wllh our amblllous goals for Ihe lulure. We Continued lo expand our fundraising ellorts with our ongoing diversificatlon strategy. Our key source$ ol incomo throughoul tho y•ar Included: Our retail division has had an outstanding year of growlh. both operationally and financially. The departmenl Contributed an amazing £257k net income to the charity seeing unprecedented year on year growth. With pre. loved goods being al the cenlre ol ils success, donallon bags have become a key locus and in this period we have increased our donallon bag intake by 760/.. Thls has been achieved through local campaigning arKJ raising awareness ol oui 9 shops and our Donalion Cenlre. Our onlln8 division has gone Irom slrenglh to slrenglh wilh a slrong locus on growing our eBay platform and introducing new income streams wilhin Ihe Donalion Cenlre, We have launched our Vinted Shop and also developed our presence on Facebook selling our pre-loved donaled Ilems. The operallon ol the Retail Gift Aid Scheme has been succe8slully managed during ihe year with 4.310 new supporters signed up generallng claims lotaling over £1 Ook. in Fle This campaign aimed to raise £1 million by March 2024 towards helping us secure our second owned AW169 helicopier. Through a combinalion of personal gins, gifts in wi118 and corporate gifts and grants, we raised nearly £800.000 which look us a signlllcant way towards fullllllng Ihls ambitlon thereby allowing us lo strengthen our operational resilience for Ihe future. The success of Ihis new fundraising initialive rellects the deep personal ¢ommitment ol bolh individuals and businesses to our rnission whose support has been invaluable. Page 13

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guaranlee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ul Our Regular Giving prograrnme has continued lo grow wilh total income for the year ofover £500,000, with associated Glft Ald claimed in addition. Thanks to our combined efforts in canva$slng and lelemarketing, we gaw a sieady ri$e in regular gprfing sUPPOrters, Y4elroming over 3,100 new regular giver5 during the year, bringing the lolal number to 6,814 by Ihe year end. In Mem ac Our 'in memory, income remained strong durlng thls period. wlfft £296k received for the year. During Ihe year we launched Ihre8 Gifts in Wills products and made signilicant progress oplimising Ihis area ol fundraising working wilh Legacy Voice, a specialisl consultancy focused on helping charities raise more money via legacy giving. Wllh a new Benefactors Piografflme, we arg better placed lo craft pgrsonalised experiences that Communicate the prolound, lasting impact of legacy gifts. This slrategy is also focused on inspiring 5UPPOrtefS lo envislon me long- term benefits of their gift. which signilicantly advances our mlssion. Our corporale income grew by £50,000 thls year. A major conlributor to this growth has been an uplift in corporale sponsorshlp, surpassing £20,000. Our Corporate Fundrai55ng Manager proactlvely networks with busSnesses and organisalions across Essex and Hertlordshire to lorge $urxesslul and mutually benelicial partne15hips. Our weékly lottery rernains our lafgest source ol Income and by the year end, we had 98.498 poople playlng 176,507 weekly chances in the draw, slightly down on the previous year's figures 0198,057 and 178,853 respectively. We launched several new campaigns specifically designed to drive signups, as we conlinue to recruil and engage 8UPPOrteis amidst Ihe cuirent econornic challenges. We contlnue to use bNo prolessional canvassing organisalions which ropresenl OUT values to Ihe wlder community. Through contraclual terms and conditions. regular meetings and training, we ensure thal they lollow our values but we aLs0 c105ely rnonilOT their activitiès. Any complaints received are lollowed up in delail and are reported to the 8oard ol Trustees each month. Durlng 2023-24 we received and lollowed up on 6 such complaints out of 28,611 new sign-ups. The aclivities of these organisations are also regulaled by the Gambling Commission arKI Fundraising Regulator. In our efiorts lo help protecl vulnerable people, we require all canvassers to be Demenlla Frlends and 10 attend a dementia awareness tralning course. Underage players are nol permitted to join the Lottery- we also Ilmil the nufflber ol chances thal players may have in the lottery. Like most charities across the UK. we are still feeling the eltecls of Ihe cost of living crisis, with many people having less disposable income to make regular and one-off donations. This economlc squeeze has been particularly noticeable in our raffles, where we've seen a signilicant decline in parttcipation. Our Spring, Summer (which celebrated our 251h anniversary) and 1he Winter ralfle between them still generated tota5 tickel sales of £164k compared to £171k lor the previous year. Page 14

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlt•d by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Volunteers Our dedicated team ol volunleers noi only help wilh lundralslng aclivllies and r&sing av4arenes8 of the charity, they also help increase income in their local communilies. By the year-end, we were supported by over 460 volunteers, contributing hours valued al around £440k per year. National Volunteers. Week took place In June 2023. during which we celebraled and Ihanked our army ol dedicaled volunleers for their generosity and hard work. We shared a series ol volunteers. stories across social media. ralslng awareness of their remarkable conlribulions. In March 2024, we hosted our Vision'24 engagement event at our North Weald airbase as an annual update for volunteers, iefreshing the format by bringin9 iogelher both Siaff arKI volunteers, sharing plans lor the luture lor the first lime. thAn versa Our 25th anniversary celebrallons ran Irom Juno to September 2023 and to mark our quarter-cenlury milestone we held our very first 'Thank-a Thon.. which saw stall. representing all areas ol the charity, lake lo the phones across our offices and airbasas to call over 4,000 supporters In one day, just to say, 'Ihank you,. In December. we celebrated our history wrth a special 25 Year Celebration Issue ol our Flight for Lite magazine. This edition looking back upon our Journey since 1997, showcasing the palionls, supporters. crew and slall who have been integral to our rnisslon. Page 15

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmited by guarantee) TRUSTEES. REPOFrr (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 d) Flnanclal Revlew The con30lidated accounts are lor Essex and Herts Air Ambulance Trust and It$ wholly owned Irading subsldiarteg Essex & Herts Flighl for Life Lottery Limited. Essex & Herts Flight for Life Lottery Operations Llmited, Essex & Herts Flight for Life Lottery Cfilical Care Limited and Essex & Herts Air Ambulance Trading Limited. The linanclal highllghts of the year Include: Tolal incoming resources increa88d by 10.8% to £19.5m (2023 - £17.6m). Tolal resources expended increased by 12.1% 10 £15.7m (2023 - £14mJ. Operating Surplus increased by 2.7Y• to £3.8m <2023 £3.7m). Relained reserves increased to £52.8m (2023 . £46.9m). Of this, £24.2rn is designaled lund8 which includes £5m designated for the creation of a new expendable endowrnent trust, £409k is designated lor the Centre lor Excellence and £18.8m Is deslgnated for lixed assets whl¢h Includ8s bolh alrcraft and the airbase al North Weald. A breakdown ol amounts held In spKlfl¢ funds lor restricted, unrestricted and deslgnaled purposes 18 shown In note 18 01 the financial slalements. Incom ner Donalions and collecb'on lins conlinued to perform well up by £178k {9.5Y.} trorn last year and are now above pre- pandemic levels. Retail income Irom our charity shops conlinued lo grow signilicanlly and was up £41 Sk (43.7% on the previous year. Lott8ry sales d8clin8d by £230k as new players reciuiled did not quite replace those who Cancelled their membership. Legacy income in the year benefited from an excepiional £2.1m bequest which conlribuled signillcanuy to our total legacy Income for Ihe year 01 £4.6m up over £1.2m on the previous year. Reported tolal group income (incorning resources> increased in total by £1.9m110.8¥.) over Ihe previous year. Resources Ex end Tolal 9rcup expenditure (resources expended) Increased by £1.8m (12.1%> In the year. Thls was mainly driveft by increased expenditure on Charllable Aclivities wlth lurlher planned gr0￿h in Ihe Centre for Excellence iniliative ¢oupled wllh the exceptional costs incurred relating to the sale ol SAS lo GAMA Avlalion and also higher ongoing helicopter operating Costs th8reaft8r. Performa cesu ma Increases in income meant that despite the cost Increases delailed above. the operating surplus was malnlained at £3.8m, up sllghlly on the pfe¥ious year. Our net cash balances and investment5 at the year end were £35.4m, down £0.9m frorn last year as we ulilised funds speeilically allocated lor the purchas? of Ihe new aircran. Page16

ESSEX & HERTS AIR AM8ULANCE TRUST (A company Ilmlted by guaranlee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserv s Polic Free reserves are freely available to be speni on any of the Charitys purposes; these amounts are contalned wilhin the General Fund. In this conlext, reserves exclude langible lixed assets held for the Charity's use. The Trustees aspire to hold belween 12 and 24 months of total expenditure in unresliicled general reserves to safeguard the operation ol Ihe seNice should our income fail or we face an unexpected eventuality. Current unreslricled general reseNes represent 18 months, forecasl tolal expenditure. The Trustees consider the curfenl levels of reserves to be appropriale in ensurlng Ihe Charty remains linanclally robust and Ihat il can conlinue lo operate durlng periods ol uncertainty, such as Ihose experience over recent years, 8elow is a breakdown ol the ieserves. 2024 52,765,123 2023 46,881.615 Total reserves Less.. Deslgnaied reseDie3 Endowment lunds Reslricled ieseNes Free reserve8 19,236,935 {5.000,000} (9,894) 28,518,294 (25,169.097 45,4321 21.667,086 Our Investmenl Portfolio is now managed by LGT Wealih Managemeni lollowing thelr acquisilion in 2023 01 abidn's Charity and Prsvate Client business, bul our principal client management team remain the same. LGT Is the largest lamily-owned prlvate banking and asset managerneni group in the world, managino around £250bn lor high nel-worth prlvate Individuals, ¢haiilies and institutional clienls. Durlng the year our portlolio increased In rnafket value by £2.5m, having a markel value ai Ihe year end 01 £28.6m. Thls Is a notsonal gain only: our investmenis are held lor the medium fo long ierm and are made using prolessional Investment advice. In plannlng our investmenl slralegy we consider the securlty ol our Inveslments, our tuture lunding needs and market returns available for a given level of risk. Page 17

ESSEX & HERTS AIR AMBULANCE TRUST {A company Ilmlted by guaranloe) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for the lulur• Clinical We are conslanlly seeking to push lorward Ihe boundaries of prehospital medlcine so that we can improve the oulcomes for more patients. In 2023 124 we have worked lo develop our clinical leadership and team structures to enable us lo maxirnise our efforts on clinical development and innovatlon, alongside the foThiard-Ihinking Cenlre lor Ex¢ellen¢e workslrearns. Some of Ihe clinical areas urKler d8velopmenl presenlly include.. The introductlon ol Vldeo Laryngoseopy Regional Anaeslhesia (largeled analgesia) IOT hip and rb Irac￿reS Uslng roadside blood lest devices and resulls lo improve care for severely head injured pauents The main focus for Operations over the coming year is lo conlinue towards our goal of holding our own AOC. We have lorrned a Jolni Managemenl ol Changè Task Force wilh GAMA as we $88k lo work collaboratively together to achieve this goal. We expect lo see the Charity ily using ils own AOC at th• latest by the early months of 2026. in As we look lo Ihe lulufe, our locus rernalns on enhanclng and exparKllng our Incorne strateg18$ especlalfy as we to conlinue to manage Ihe impact ol Ihe cost ol living crisis on our income. We will continue lo diversify our revenue streams wilh a focus on growing our regular giving programme and bringing more supporters onio our CRM syslem. This will enable us lo cultivate and deepen relationships wilh warm SUPPDrters through a more supportive and parsonalised journey. In addition to these efforts, we aim to develop our corporale partnerships, connecting with businesses Ihai nol only align with our values and support our misslon bul a150 contrlbuie to the wlder community. A key area ol our strategic development Is the scoplng and implementalion ol a new CRM system, whlch will streamline our operations and enhanc8 our ability lo connect wilh supporters arKI measure the impact ol our lundraising inilialives, ensuring ihat we continue to adapt and evolve with their needs. We now have a solid framework in place lor our Benelaclors Piogramme and look lorward to Ihe new perspectives and slraiegies which our now Head ol Phllanlhropy and Partnerships together with our newly lormed Development Board will bring. Retail In line with our retail strategy, Ihe expansion of our relail division will continue with the r8cent relocation of our Mersea IslanLI shop. which has moved across Ihe road to a lar9er more effeclive space. Tho new shop now includes Improved donation lacllilies and parking lor easier drop-offs. helping lo rnaximise lootlall and enhance Ihè experience for Ihose shopping sustainably. We also have plans lo open a new shop In Stevenage and are actively looking lor a new location in Ihe Colchester area as a commercial decision has been made lo close our existing shop. At Ihe same lime. we Page 18

ESSEX & HERTS AIR AMBULANCE TRUST (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 will be enhancing our ecommerce operalions, locusing our growth on plallorms such as eBay and Vinled to boost Ihe visibllity and sales ol goods kindly donated by our supporters. To support the huge gromh and potential In this area we w511 be appoinlfjng a Relail Commercial Direclor to lead Ihls ever expanding and hlgh performing ieam. muni Our cornrnunicalions team Is actively exploring new opportunities to boost traffic and engagement through Our website. with a locus on increasing donations and requests for lundraising packs. Social media is key to connecting with our supporters, and we are looking al ways lo enhance our interaction across Facebook, Instaoram and TlkTok. The leam has also begun Implemenling a mor• granular approach to campaign tracking across our online activities, enabling us to make data-driven decisions which will improve the performance of lulure campaigns. We are also preparing lor Ihe relaunch of our Flighl for Lifè Lottery in Sepiernber 2024. l) Dev?lopm•nl of Key Partn•r8hlps and R•latlonghlp$ We continue lo work closely with our neighbouring air ambulances, including EAAA, MAGPAS Air Ambulance, London's Air Ambulance, Thames Valley Air Ambulance. Dorset & Somerset Air Ambulance and Alr Ambulance Kent Surrey Sussex. sharing knowledge And operating praclices. We continue to work in partnership with EEAST as we work closely with Iheir new senior managemeni ieam. We continue lo work closely wilh our colleaoues al Anglia Ruskin University which includes working lo help 8gcure loinl funding lor research projects. AAUK conlinue lo bring the wider UK Air Ambulance communilies together and EHAAT is involved in a variety of areas including being a mernber ol Ihe Envlronmenlal Suslalnabilily Slraleglc Innovation Commillee which is a new working group looking at how Ihe sector can reduce its environmental impact. We continue lo welcome a number of cross-paty MP'S and communlty leaders, engaglng them In our work. g) Prlnclpal Rl•k• and Un¢ert•lntle$ The Trust operates a bespoke risk managemenl $olhvare system. The TTuslees havo a risk management approach Ihal comprises.. An ongoing review ol the risks the Charity may face, with risks being enlered onto a risk reglsler. The Executive Team regularly reviews risk. The regisièr is discuss￿ at least once a year al board meetings and al every Audil & Risk Committee meetlng. The establishment ol syslems and procedures lo miligate risks The implemeniation ol proc&dures design8d lo minimise any potential irnpacl on the Trusl should iisks rnaterialise Use of a risk management system lor all clinical occurrences, reviewed by the Clinical Risk and Saléty Comrniltee. The Trustees consider Ihat the most slgnlflcanl rlsks lo the Charity are currently ihe financial impacts ol a sustained period of high intlalion. financial and operalional risks associated with a cyber-attaGk and reputational risk resulting Irom adverso publicity for the Charity or the charity sector in general which impacts our ability to raise funds. Page 19

ESSEX & HERTS AIR AMBULANCE TRUST (A Cornpany Ilmlled by guarantee) TRUSTEES. AEPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tru#l••' Flesponlbllltl•8 In A•lallon to the Flnanclal Stalem•nt• The Trustees (who are also directors lor th8 purposes of company law) are responsible lor preparing the Trustees, Annual Report {including the Siraleglc Report) and the Ilnancial Slalements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom G8nerally Accepted Accounting Practice). Company law fequlres the Trustees lo prepare linanclal statements for éach finan¢lal year, which glve a true and lair view of the stale ol atfairs ol the charilable company and the group and of their incoming resources and applicatlon of resources, including the income and expenditure, of ihe charitable company and the group lor that period. In preparing Ihese flnancial statemenls, the Truslees are required to,. select suitable accounting policies and then apply them conslslently obseNe Ihe methods and principles in Ihe Charities siatemenl ol Recommended Practice (SOFIP) make judgemenls and estimates Ihal are reasonable and prudent slate whother applicable UK Accounling Standards have been lollowed, subJecl to any material departures dlsclosed and explained in th8 linancial slatemenls prepare the linancial 51alements on a going concern basis unless it is inappropriate lo wesume that the charilable company and the group will continue In operallon The Trustees are responsible lor keeping adequate accountino r￿OrdS Ihal disclose with reasonable accuracy 81 any time the Ilnanclal posllSon ol the Trusl and the group and enable Ihem lo ensure that Ihe linan¢ial Slalements comply wilh the Companies Acl 2006 and Ihe provisions ol the Trust's constitulion. They are also responsible for safeguarding Ihe assets ol Ihe Trust and the group, and hence taking rea50nable steps tor Iheprevenlion and detectlon ol Iraud and other Irregtslarllies, In accordance wilh company law, as Ihe Charity's trustees, we certity Ihal: So far as we are aware, there is no relevant audit information ol which Ihe Trusl's auditors are unaware As the Trustees of the Ch8fity, we have iaken all th8 St8PS that we ought lo have taken in order to mak8 ourselves awafe of any ielevant audlt Inlormab'on and to eslabllsh that Ihe Charity's audllors are aware ol the information Audilors A resolulion will be ¢onsKlered to reappoint Crowe UK LLP as audilor8 to Ihe Twst lor the ensuing year. Approved by order ol the members of the Board of Trustees on 291111%4 and signed on their behalf by: 7d. Jonathan Trower Chalr ot Tru$tee• Page 20

ESSEX & HERTS AIR AMBULANCE TRUST (A Company Ilmlled by guaranlee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ESSEX & HERTS AIR AMBULANCE TRUST Oplnlon W8 have audiled Ihe linanclal sialemenls of Essex & Herts Air Arnbulance Trust (the 'parenl charitable company.) and its subsidiaiies (the 'group') lor the year ended 31 March 2024 which comprise the Consolidated statement ol financial actsvities, the Consolidaled balance sheet, the Company balance sh8et, the Consolidatèd statemeni ol cash Ilows and the ielaled notes, including a summary ol significant accounting policies. The financial reporting frarn8work Ihal has been applied In Iheir preparalion is applicable law and United Kingdom Accounting Standards, including Financlal Reportin9 Standard 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland. {Uniled Kingdom Generally Accepted Accounling Practice). In OUT opinion the linanciaj slat8ments.' give a true and falr view ol the slate ol the Group's and ol the parent charltable ¢ompanVs allalr8 as at 31 March 2024 and of the Group's incoming resources and application ol resources. including its income and expenditure lor the year Ihen ended., have been property prepared In accordance wlth Uniled Klngdom Generally Accepled Accounting Practice; and have been prepared in accordance with the requiremenls of the Companies Act 2006. Basls lor oplnlcn We conducled our audit in accordance wlth Inlernalional siandards on Auditing (UK> IISAS {UK}l and applicable law. Our responsibilities under those slandaids are ILJrther described in the Auditor's responsibilities lol the audit ol Ihe linancial stalemenls section ot our repon. We are independenl of the Group in accordance wilh the ethical requiremenls that are relevant to Ouf audil ol the financlal statemenis In Ihe United Kingdom. including Ihe Financial Reporting Council's Ethical SlarKlard, and we have lulfilled our other ethical responsibllilies in accordance with Ihese requirements. We believe Ihal Ihe audit evidence we have oblained is sullicient and Appropriate to provide a basis lor our oplnlon. Conclu8lons relatlng io golng concern In auditing Ihe financial stalemenls, we have concluded thai the Trusle¢s' use ot thè golng concern basis ol accounting in the preparation ol the financlal statemenls is appropriate. Based on the work we have perlormed. we have not identified any mat¢rial uncertainties relating to events or conditions that, individually or collectively, may casl significant doubt on the Group's or Ihe parenl charilable eompanvs abilty lo continue as a going concern lof a period of al leasl ￿e1ve months from when the financial statemenls are authorised for issue. Our re$pon$ibilitio$ and the re$ponsibllilie$ of th• Tfuslees wlth respect to 90ing con¢•rn aro dgs¢ribgd In th• relevant seclions ol this ieport. Page 21

ESSEX & HERTS AIR AMBULANCE TAUST (A company Ilmlled by gugrantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ESSEX & HERTS AIR AMBULANCE TAUST (CONTINUED) Other Inlormallon The other nformation comprises the Informallon included In Ihe Annual report other than the flnancial statements and our Auditor's report Ihereon. The Trustees are responsible foi the other Inlormalion contained within the Annual report. Our opinion on the linancial statements does not cover the other Inlormallon and, excepl lo the extent otherwise expltcilly slated in our rerx)rt. do nol express any form ol assurance conclusion thereon. Our responsibi1Sty is to read the other inlormalion and, In doing so, Consider Ythelher Ihe Olher inlormation Is materially inconsisl8nt with iho financial slalement5 or our knowledge obtalned in the course ol ihe audil, or olherwise appears to be materially misslated. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo dateimlnè whelhar ihls gives ri$8 to a materlal misstatement in the financlal slalements Ihemselves. 11, based on Ihe work we have performed, we conclude Ihal Iherg is a materlal misslalemenl of Ihis other inlormalion, we are required lo report that lacl. We have nolhlng lo report in this regard. Oplnlon on oth•r matters pr•scrlbed by lh6 Companl•g Aei 2006 In our oplnion, based on the work undertaken in Ihe course of Ihe audll: the inlorrnalion given in Ihe Trustees. Report including tho Strateglc Report lor Ihe flnancial year lor which the linancial statements are prepared is consistent wilh tho Ilnancial $lalements. the Trustees, Report and the Stralegic Raporl have been prepared in accordance with applicable legal requirements. M•lters on whlch we are required to report by exc•piion In the light ol our knowledge and understanding ol Ihe charitable company and its envlronment obtained in the course of Ihe audit, we have not idenlilied material misstatarnents in th8 Trustees, Report including the Straleglc Report, We have nothing lo report in respect ol the following matters In ralalion to which Companies Act 2006 requires us to report lo you il, in our oplnion: the parenl chaiitable company has nol kept adaquale and 8uffi¢lent accounting records. or relums adequale lor our audil have not been received from branches not visited by us; or the pareni charitable company financial statements are nol in agreemenl with the accounting records and relurns: or certain disclosures ol Truslees. remuneralion specifled by law are not made., or we have not received all the inforrnalion and explanallons we require for Our audil. Regponslbilltleg ol Irustees As explained more fully in the Truslees, responsibilities slal8m8nt. the Trustees (who 8rÈ also the direclors of the charilabl? company lor Ihe purposes ol company lawl are responslble lor Ihe preparalion of the linanclal slalemenls and for boing satisfied that they give a Irue and fair view. and for such internal conlrol as the Trustees dèterrnine is necessary to enable Ihe preparation of financial slalements thal ale Iree from material misslatemenl, whelher due to Iraud or èrror. In preparing the financial stalemenls, the Trustees are responsible lor assessing the Group's and the parent charitable companys ability lo conlintje as a going concern, disclosing, as applicable. matters related to going concern and using ihe going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitablg company or to cease operallons. or have no realisiic amernative bul lo do so. Page 22

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlted by guarant••) INDEPENDEKf AUDITOR'S REPORT TO THE PIEMBERS OF ESSEX & HERTS AIR AMBULANCE TRUST (CONTINUED) Audllor's responslbi1111g8 for Ih? audlt ol Ihe 1Snanclal 8talomgnt8 Our objeclives are io obtain reasonable assurance about whelher the financial stalemenis as a whole ara Iree Irorn malerial misstalemenl. whelhei due to Iraud or error. and to issue an Audilor's report Ihal includes our opinion. Reasonable assurance Is a high level of assurance. but 15 nol a guarantee Ihat an audit conducled in accordance with ISAS (UK) will alvrdys detect a material misstalemenl when it exists. Misstalements can arise Irom traud or error and are considered malerlal if, individually or in Ihe aggregate. they Could reasonably be expected to influence the economlc declsions of users laken on the basis of these financial stalements. Irregularities. Including fraud, are Inslances ol non<ornpliance wilh laws and re9ulalions. We design procedures In line with our responsibilities, oullined above, lo delect rnalerial misslatements In r8sp8cl ol irregularities. Including fraud. The exlent lo which our procedures are capable of detecting irregularities, including fraud is delailed below.. We obtalned an underslanding of the legal and regulatory frameworks wllhin which the company operates, focusing on Ihose laws and regulations that have a dlrect elfect on the deierminallon ol maierlal amounts and disclosures in the linanclal slalemenls. The laws and regulations we considered in this cont8xI were lh& Companies Acl 2006, Charilies Acl 2011 and SORP 2015. We Identilied Ihe gToatesl risk ol malerial Impacl on the linanclal statements from Irregularilles, In¢ludlng fraud. to be the ovefride ol controls by managernenl. Our audit procedures lo respond to thèse risks included.. enquiry ol management aboul th8 Group's polici85. procedure5 and related controls regarding compllance with laws and regulations and il there are any known instances of non.compliance: examining supporting documents lor all material balances, transactions and disclosufes., review of the board meeting minules: enquiry ol rnanagemeni and revlew and inspection ol relevant correspondence: evaluaiion ol Ihe selecl¢on and applicatlon ol accounllng policies related lo subleclivè measurements and eomplex Iransactions: analyts'cal procedures lo identify any unusual or unexpected relationships. lesling the approprialeness of journal entries recorded In the general ledger and olher adjuslrnent$ made In the preparalion ol Ihe linancial $lalemenls.' and review of accounting estimates for biases. Owing to the Inherent limltations of an audit. there Is an unavoldable rlsk that we rnay not have deleeted some material misstatemenls in the financial statements. even though we have properly planned and performed our audil in accordance with audiling slandards. We are not responsible for preventing non-compliance and cannot be expacted to delect non<ompliance wlth all laws and regulations. These inherent limilations are particularly signilicanl In the case of misslatement resulting trom traud as Ihis may Involve sophislicaled schemes desi9n8d to avoid delecllon, Includlng deliberate lailure to record transactions, collusion or the provision ol intentional misrepresentations. A further descripiion ol our responsibllliies lor the audit of the financlal $latemenls 13 located on the Financial Reporting Council's website at.. w*ww.Irc.or .uklaudilorsres onsibilities. This des¢ription forms part of our Auditorfs report. Page 23

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlted by guarantee) INDEPENDETrrf AUDrroR'S REPORT TO THE MEMBERS OF ESSEX & HERTS AIR AMBULANCE TRUST (CONTINUED Usè of our r¢port This report Is made solely io the charitable companys members, as a boty, In accordance vmh Chapler 3 of Part 16 01 Ihe Cornpanles Act 2006. Our audit work has been undertaken so Ihal we might slale to Ihe charitable COMpan￿S members those matters we are iequired to slate lo Ihern in an Audilor's report and for no other purpose. To Ihe fullest exient P8rmitted by law, we do not accept or assume responsibility lo anyone other Ihan Ihe charllable company and Its members. as a body. lor our audil work. lor thls report. or lor the opinions we have lormed. lan Week•3 (Senloi statutory •udllor) lor and on b8hall of Crowe U.K. LLP Slalulory Audilor Riverside House 40- 46 High Street Maidstone Keni ME14 1JH Date: Page 24

ESSEX & HERTS AIR AMBULANCE TRUST {A company Ilmited by guarantee> CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Restrlcled Unreslrlcted fund8 lunds 2024 2024 Total lund8 2024 Total lunds 2023 Note Income Irorn: Donalions and legacles Charitable actSvities Olher Irading a¢livilles Investments 99,637 17,424 14,000 7,369,343 47,341 10,963,287 1,013,787 7,468,980 64,765 10,977.287 1,013,787 6,118,214 93,112 10.798, 770 618,772 Total Income 131,061 19,393,758 19,524,819 17.628,818 Expendlture on: Raising lunds Charitable activities 6,455 19,721 5,784,123 9,933,405 5,790,578 9,953,126 5,131,902 8.819,319 Tolal expendlturo 26,176 15,717,528 15,743,704 13.951,221 Operatlng surplus Nel gainsl(losses) on Investments 104,885 3,676,230 2,102,393 3,781,115 2,102,393 3,677,597 (1,214,487) Net Incomè Tlanslers between funds 104,885 1140,424) 5,778,623 140,424 5,883,508 2,463, 110 18 Nel movement In lunds (35,539) 5,919,047 5,883,508 2.463. 110 Aeconclllatlon ol tunds: Toial funds brought lorward Nel movement in funds 45.432 (35.539) 46,836,183 5,919.047 46,881,61S 5,883.508 44.418,505 2.463,110 Total tunds carrled lorward 9.893 52,755,230 52,765,123 46,881,615 Ttr￿ Consolidated Statement ol Financial Activities include5 all gains and losses recognised in the year. The notes on pa9es 29 10 52 lorrn part ol Ihese financial stalements. Page 25

ESSEX & HERTS AIR AMBULANCE TRUST (A Company limlted by guarantee) AEGisfERED NUMBER: 05397840 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Inlanglble assels Tangible assets Investment8 12 13 14 3, 192 19,303, 726 32,437,175 18,827,405 31,915,858 50,743,263 51,744,093 Currenl a99et$ Stocks Debtors Cash at bank and in hand 15 16 14,570 1,585,365 3,449,241 16,809 1,971,645 3,901.303 5.049,176 5,889,757 Creditors.. amounts lalling due Mthln one year 17 {3,027,316) (10. 7S2.2351 N81 curranl esmts I Ilabilites 2,021.860 (4,862,478) Total net assels 52,765,123 46,881,615 Charlty funds Resirict8d lur¢ds Unrestricted funds 18 18 9,893 52,755.230 45,432 46,836,183 Tolal tund8 52,765,123 46,881,615 The Trustees acknowledge Iheir re8ponslbllilles lor complying with tho requirements ol lh8 Acl with respect to accounling records and preparation ol financial slalemenls. The fft'nancial staternents were approved and aulhorised for issue by th? Trustees on 3q/ii134 and signed on their behalf by.. Jonalhan Trowel (Chair ol Truslees) The notes on pages 29 10 52 lorm part of these linancial statements. Pag8 26

ESSEX & HERTS AIR AMBULANCE TRUST (A company limlled by guarantee) REGISTERED NUMBER: 05397840 COMPANY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nole Flxed assets Inlangibla assets Tangible assets Inveslments 12 13 14 3, 192 19.303, 726 32.437,179 18,827,405 31,915,862 50,743,267 51, 744,097 Current as$ei$ Stocks Debtors Cash ai bank and In hand 15 16 14,570 3,246,285 1,150,648 16.809 4,204,114 1,086,272 4,411,503 5,307,195 Credltois: amounts falllno duo wllhln one year 17 (2,389,647) (10.169.677J Net eurrenl a$gel$ I Ilabililes 2,021,856 14,862,482) Tolal nel assels 52,765,123 46,881,615 Charlty funds Restricted lunds Unrestricted funds 18 18 9,893 52,755,230 45.432 46,836,183 Total lunds 52,765,123 46,881.615 The Cornpany's net movement in funds lor Ihe year was £5.883.508 {2023 - £2.463,110). The Trustees acknowledge Iheir fesponsibilltSes tor complying wlth the iequlrements ol Ihe Act with respect to accounting records and preparation ol financial slalemenls. The financial stalemenls were approved and authorised lof issue by the Truslees on 2911113 and signed on Iheir behall by: Jonathan Trower (Chair of Trustees) The notes on pages 29 to 52 lorm part ol thèse financial slatements. Page 27

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) CONSOLIDATED STATEMEKf OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cagh flaws trom operallng ocllvllles Nel cash generated in operaling aclivrtles (4,809,054) 2,294.200 Cash tlow• Irom Inv•8llng acllvltle$ Dividends. interests and rents from investments Proceeds Irom Ihè sale ol tangibie fixed assels Purchase of tangible and inlangible assels Proceedg Irorn sale ol investments Purchase of investments 1,013,791 14987 (366,255) (1, 176.5201 14,632,181 16.084,537 (10,939,712) (16,648.441) 618.722 Nel ensh provlded byl(used In) Inve$llng octlvllles 4,356,992 (1,121,702) Cash IIow8 from Ilnanclng 8ctlvlll•$ Nel cash provlded by Ilnanclng aetlvllle• Change In cash and cash equlvalont8 In tho year Cash and cash equivalenls al the beginning ol the year (452,062> 1,172,498 3,901,303 2, 728,805 Ca$h and cash equlvalents at th• end of Ihe year 3,449,241 3,901,303 The notes on pages 2910 52 fomi part of these fIna￿la1 statements Page 28

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMETrThS FOR THE YEAR ENDED 31 MARCH 2024 General intormallon Essex and Herts ￿'T Ambulance Trust is a company limiled by guaranlee (regislered number 053978401 which is incorporated and domiciled in England. 11 is also registered as a charlty wilh the Charity Commission (registered number 1108989). The address ol thg regislered office Is The 8uslness Centre, Earls Colne Business Park. Earls Colne Colchester, Essex, C06 2NS. A¢Gountlng pollcles 2.1 Basis ol preparatlon of Ilnanclal statem•ntg The linancial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Chariiies.. Slatemenl of Recommended Practic8 applicable lo charities preparing iheir accounts in accordance wlth Ihe Flnanclal Reporilng Slandard applicable in the UK and Republic of Ireland IFRS 102) {ellective 1 January 2019). the Financial Reporling Standard applicable In Ihe UK and Republic of Ireland (FRS 102) and the Companies Acl 2006. Essex & Herts Alr Ambulance Trust meels tha delinition ol a public ben81il enlily under F14S 102. Assets and liabililies are inilially recognised al historical co81 ¢y Ifansactson value unless otherwise 61aled in the relevanl accounting policy. The financial statements have been prepaied on a golng concem basls as the Trustees believa that no material uncertainties exist. The Trustees have considered Ihe going concern assertion by assessing ihe lev81 ol lunds held and th8 expected level of income and expendilure tor 12 monlhs from aulhorising these linancial statements. The budgeled income arKJ expenditure Is sull￿18n1 with the level of reserves for thè Charity to be able lo continue as a goin9 concern. The Consolidaled slalemeni of Ilnancial aclivllles (SOFA) and Consolldaied bala￿e sheet ¢onsolidale the linancial statemtnls ol the Company and ils subsldiary undertaking. The results ol the subsldiary are consolidated on a line by line basis. The Company has taken advantage of the exernplion allowed under secilon 408 of th8 Companles Acl 2006 and has noi presenled ils own Slalement ol financial acknvities in Ihese linancial stalements. Page 29

ESSEX & HERTS AIR AMBULANCE TRUST (A company llrnlt￿ by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng pollcles (conllnued) 2.2 Income All incoming resources are included in Ihe Statemeni ol Flnancial Aclivlties (SOFA) when the char Is legally entilled lo Ihe income after any perf￿rnan¢e condilions have bean met. lh8 amounl can be measured reliably and it is probable Ihal the income will be received. For donalions lo be recognised Ihe Charity will hav8 bean notilied of the arnounts and the settlement date in wriling. 11 there afe conditions attached to the donation and this fequlres a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met Of lulfillmenl of those condit6ons 18 within the control ol Ihe Charlty and It Is piobable thal they Mll be fullilled. Donaled lacllllles and donated prolessional servlces are recognised In Incorne al their falr value when their economic benefit is probable. it can be measured reliably and Ihe Charty has conlrol over Ihe Item. Fair value is determined on ihe basis ol th8 value of the gift to the Charity. Foi example, the amount Ihe Charity would be wllling to pay in the open market lor such lacilities and services. A orrespondlng amounl is recognised in expenditure. No amount is included in the financial stalemenls lor volunleer timp in line with the SORP (FAS 102>- Furth8r detail is given in the Trustees, Annual Report. Legacy gifts are recognised on a case by case ba$ig following ihe granling of probale when the administralor18xeculor for thè estate has communicated in writing both Ihe amounl and sèttlement dale. In the event that the gift is In the lorm ol an assel olher Ihan cash or a linancial asset traded on a recognised stock exchan98, recognilion Is subject to the value ol the gift being reliably measurable w5th a degree ol reasonable accuracy and Ihe lille to the asset being translerred lo the charty. R•versionary legacles are not recognised during the lilelime ol Ihe orlginal beneficiary under the wlll. Income from Irading aclivilies includes income 8arned Irom lundraising events and Irading aclivities to raise funds for the charity. Income Is received in exchang8 lor supplying goods and seniices in ordgr to raise lunds and is iecognised when enlitlemenl has occurred. Goods donated for resale aro Included in the accounls when Ihe ilerns are sold. The Charity receives grants in respect of furthering its charitable activilies. Income Irom grants is recognised al lair value when th8 Charity has enbllement after any perlormance condltions have been mel, it is probable that Ihe incorne will be received and Ihe amounl can be measured reliably. If entitlement is nol mel then these amounls are deferred. Inveslmenl income is earned through holding assets for investment purposes such as shares. It Includes dividends and interest. Oividend income is recognised as the charity's fight to recelve payment Is established. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity,. this is normally upon notification of the interesl paid or payable by Ihe bank. Income lax re¢overable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Page 30

ESSEX & HEATS AIR AMBULANCE TRUST (A ¢ompany Ilmlted by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ounlSng policles (contlnuad) 2.3 Expenditure AFI expenditure is accounled lor on an accruals basls and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to thlrd parties, il is probable that the settiemenl will b8 required and the amount can be measured reliably.11 1$ categorised under Ihe lollowing headings.. Costs of ralslng lunds Includes cosls Incuffed seeking voluntary contribulions through donations, cosls ol trading activities and Ihe runnlng ol lundraising events durlng ihe reporting period,. and Expendilure on charitable activitl8s includes all costs incurred on lurthering the objects ol the Charity. Irrecoverable VAT is charged as an axpense against Ihe aGtivity for which expendilure arose. Support costs are those thal assisl the work of the Charlty bul do not directty represent charllable aclivilie5 and include oflice cosls. governance costs and adminisiralive payroll costs. They are Incurred dlieclly In support of expenditure on the objects ol the Charity and include pioleci management carried out at Headquarters. Salary cosls are attributed lo projecls based on direct salary costs. Where support costs cannot be directly artribule¢J to panicular headings Ihey have been allocaled to cosl ol ralsing funds and expendilure on charltable act￿li1eS on a basis consislenl with the use of the resources. All costs were allocated on the basis of slalt lime, wilh the exceoion ol property costs which were all¢xated by areas used. Costs ol generating funds are costs Incufred in attracting voluntary income. and those Incurred in trading activities Ihat raise funds. Charitablè activilies and Governance costs are costs incurred on Ihe companls operalion5, including support costs and costs relating lo Ihe governance ol the company apportioned to charitabl8 aclivltles. Expendilure on charitable aclivilies is incurred on directly undertaking Ihe activities which lurther the Group's objecllves, as well as any associated support costs. All expenditure is inclusive ol irrecoverablè VAT. 2.4 Govornmenl gvants Grants afe ciedited lo Ihe Consolidated stalement ol finanGial acts'vilies as Ihe related expendlture is incurred. 15 Taxatlon The cornpany is consideied to pass the tests set oul in Paragraph 1 Schedule 6 01 Ihe Finance Act 2010 and therelore it meets Ihe definition ol a charilabie company lor UK corwration tax purposes. Page31

ESSEX & HERTS AIR AMBULANCE TRUST {A company Ilmlled by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCII 2024 Accountlng pollcles (contlnued) 2.6 Inlanglblo a88et$ and amortlsalion Inlangibl8 assets ¢osling £3,000 or more are eapilalised and recognised when luture economlc benefits are probable and the co81 or value ol the asset can be measured rellably. Intangible assets are Initially recognised at cost. After recognition, under the cost model, inlangiblo assets are measured al cost less any aceumulated amortisation and any accumulated Impairment losses. Amortisalion is provided on inlangible assets al rates calculated to wrlte off Ihe cost of each ass81 on a slraighl.line basis ovgr 11$ expe¢led uselul lile. Amorlisatlon Is provided on the lollowing basls: Compuler 80ftware 25 Vo Straight lin• 2.7 Tanglbl• Ilx•d assolg and depreclallon Tangible lixed assets costing £3,000 or more are capitalised and recognised when future economic benefits are probable and tho cost or value ot the asset can be m•asured reliably. Tangible fixed assels are Initially recognlsed al eosl. After recognition. under the cost model. tangible lixed assels are measured al cosl less accurnulated depieciation and any accurnulaled Impalrment losses. All cosls incurred lo bring a tangible lixed assel into ils inlended working conditlon should be included in the rneasurement of cost. Depreciation is charoed so as to allocate Ihe cosi ol tanglble Ilxed assels less thelr resldual value over Iheir estimaled uselul lives, using ihe straight-line melhod, Depreciation is provided on the lollowng bases: Long.lerm leasehold property Short-terrn leasehold property Straighi line over the lengih of the1oas• Helicoptef 20 years slraight line Motor vehicles 2-4 years straight line Fixlures and fittings and 2-8 years stralghl line computer equipment Assets under construclion Clinical equipment 3-4 years straighl line Page 32

ESSEX & HERTS AIA AMBLILANCE TRUST (A company Ilmlted by guaranloo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (conllnued) 2.8 Inve$tmonts The inveslmenls held by the Charity ale a form ol basi¢ linancial instrument and are initially recognlsed at thelr lian8a¢llon value and subsequently measufed at their fwr value uslng tha quoted market price. All gains and losses are taken to the Slalernent of Financial Activities as Ihey arise. The slat8ment of linancial activlti8s includ8S the net galns and103ses on revaluatlon and disposals throughout the year. Current asset Inveslrnenis are short ierm deposlts and are held at farA value. These Include cash on deposit and cash equivalents w¢lh a malurity ol le5S than one year. Inveslmgnts in subsidiarleG are valued al cost less provlslon far Impa5rmeni. 2.9 Slock$ Slocks are valued at the lower ol cost and net redisable value after making due allowance lor obsolete and slow-moving stocks. 2.10 Deblor$ Trad8 and other debtors are recognised at the selilemenl amount after any irade discount ollered. Prepaymenls are valued al the amount prepaid n9t ot any irade dlxounls due, 2.11 Cash at bank and In hand Cash al bank and In hand includes cash and short-lerm highly liquid investrnents wilh a short rnaturity of three rnonths or less from Ihe dale of acqulslllon w opening ol the deposil or similar accounL 2.12 Llabllltles and provlslons Liabili118s afe recognised when ther8 is an obllgation al the Balance sheet dale as a result ol a pasl even[ il is probable that a Iransler of economic benefit will be required in settlement. and the amount ol Ihe settlernenl can be eslimaled feliably. Liabilities are recognised at the amount that the company anlicipales it will pay to settle the debl or the amount il has received as advanced payments lor the goods or services It mu51 provide. Provisions are measured at the best ests'mate ol Ihe amounls requifed io settle the obligation. 2.13 Flnanclal Inslrurn8nts The Group only has linancial assels and linancial liabililios of a kind thal qualify as basic financial Instruments. Basic linanclal inslrurnenls are initially re¢ognis8d al transaction value and subsequenuy measured at their settlemenl value. 2.14 Operatlng18ases Renlals paid under operating leases are charged to the Consolidated slalgment ol financial activities on a straight line basis over the lease ierrn. Page 33

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlted by guaranleè) NOTES TO THE FINANCIAL STATEhlENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounllng pollcles {continued) 2.15 Penslons The Group operates a defined conlributlon pension scheme and the pension charge represents the amounls payable by the Group to the fund in respect ol the year. 2.16 Fund 8ccounllng General lunds are unrestrlcted funds which are available for use at the discretion of the Trustees in furtherance ol the general oblectives ol the Group and vthl¢h have nol been designated lor other purposes. Deslgnaled funds ¢ornprlse unrestrlcled lunds that have been sel aside by the Tru$lees lor partlcular purposes. The aim and use of each deslgnaled lund is sel out in the notes to the linancial statements. Restrlcied funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by th8 Gioup lor particular purpose5. The costs of raising and administering such funds are charged against the specific lund. The aim and use of each reslricled fund is sel out in the notes to the Ilnanclal slatements. Crltlcal accountlng esllmalos and areas ol judgment The followlng judgements (apart Irom those Involvlng estimates) have been made In Ihe process of applying the tollowing accounling policies that have had a significanl effect on arnounls recognised in the linancial slatemenls.. Critical accounling eslimates and assumpiions.. Depreciation rates lor tangible lixed as88ts Residual value and usetu5 lile ol helicopter Critical areas of judgmenl: Income recognition ol legacles and granls Page 34

ESSEX & HERTS AIA AMBULANCE TAUST (A Company Ilmlted by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Incom8 Irom donatlons andlogacles Ro3trlcled Unrestrlcled funds lund$ 2024 2024 Tolal lund9 2024 Donations Legacles In-memoria Collection Tins Donated services 82.086 17,551 1.878,480 4.565,350 296,230 87,939 541,344 1,960,566 4.582.901 296230 87.939 541,344 99,637 7.369.343 7,468.980 Restricted Unreslricle¢ lunds fvnds 2023 2023 Total fvnds 2023 Oonalions Legacies In-memoria Colleclk)n Tins Donated sèrvices 38,458 1,741.878 3,371,274 355.592 90.50Q 520.512 1, 780,336 3,371,274 355.592 90.500 520.512 38,458 6,079. 756 6.178,214 Income frorn charllable actlvllle8 Reslrlcled Unrestrlclod lunds fund$ 2024 2024 Tolal lunds 2024 Granl.making Irusls 17,424 47,341 64,76S Page 35

ESSEX & HERTS AIR AMBULANCE TAUST (A Company limlled by guorantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from chafllable acllvllle$ (conllnued) Restricteo Unrestncte lunds lunds 2023 2023 Tolai lunds 2023 Grant-making Irustg 35,940 57,172 93.112 In¢ome Irorn olher Iradlng actlvltl•$ Income from non charltable Iradlng •¢lfvltleg Aèslrlelad Unr•glrlet•d funds tund9 2024 2024 Total lund9 2024 Income from lottery Fundraising events Merchandise sales Charity shop incom• Other 9.437,037 128,524 32.214 1,363,962 1,550 9,437,037 142,524 32,214 1,363.962 1,550 14,000 14.000 10,983.287 10,977,287 Restricf8d Unreslriclea lunds fvnds 2023 2023 Total lunds 2023 Incom8 from lottery Fundraising events Merchandise sales Charity shop income Other 2,085,425 7.581.120 159,128 22,307 949,290 1.500 9,666,545 159, 128 22.307 949.290 1,500 2,085,425 8.713,345 10.798,770 Pape 36

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Inve$lm•nl Incom• Unre8lrlcted lunds 2024 Total tunds 2024 Dividènds Interest 1,012,785 1,602 1,012,185 1,602 1,013.787 1,013,787 Unreslricfea lunds 2023 Tolai lunds 2023 Dividends Inleresl 616.583 2,139 616,583 2.139 618.722 618.722 Analy81$ 01 oxp•ndlture by actlvlll¢s Actlvlllej undertaken direclly 2024 Supporl osts 2024 Toi•l funds 2024 Helicopter Emerg8ncy Medical Service 8.992.274 960.852 9,953.126 Activities undertaken directly 2023 SuP￿rt costs 2023 Total lunds 2023 Helicoptei Emergency Medical Service 7.821.234 998,085 8.819,319 Page 37

ESSEX & HEATS AIR AMBLILANCE TRUST (A company Ilmlted by guarant￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analy818 of expendllure by actlvltleg (continued) Analys1$ ot dlrecl co$1$ Tolal funds 2024 Tol81 fvnds 2023 Depreclallon Helicopter and Rapid Response Vehicle Clinical costs Airbase premises costs Centre loi Excellence 752,727 4,482.871 2,895,080 408,648 452,948 828.448 3, 743.268 2,712,879 398.818 137,821 Total 2024 8,992,274 7,821,234 Analy818 of 8UPPOrt co$iJ Total lund$ 2024 Total lunds 2023 Staff cosls Opèratlons and support costs Other ern￿oYment costs Governance costs 719,091 88,690 104.334 48.737 787,442 101,020 90.714 18.909 960,852 998,085 Govemance costs 2024 2023 Auditors, rernuneraiion Trustees meeting$ Trustee indernnity Insurance Legal, consullancy and other fees 30.000 2,062 1,743 24,659 32.000 893 1,962 f705) Page 38

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmltad by guarantea) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Stalt CO81$ Group 2024 Group Company 2023 2024 Company 2023 Wag88 and salarles Social security costs Contribulion lo defined contribution penslon schemes 3,085,439 303,198 2,452,828 246,398 3,085,439 303,198 2,452,828 246,398 185,059 140,602 185,059 140,602 3,573,696 2.839,828 3,573,696 2,839.828 The average nurnber ol persons eM￿oyed by the Company during Ihe year was as lollows: Group 2024 No. Group 2023 No. Charltable activities Raislng funds Lottery Retail 16 34 12 31 28 81 72 The number of employees whose employee benefils {excluding employer pension costs) exceeded £60.000 was: Gwoup 2024 No. Group 2023 No. In the band £60.001 £70.000 In the band £70,001- £80.000 In the band £80,001 - £90,000 In the band £90,001 - £100,000 In the band £100,001 - £110.000 In the band £130.001 . £140,000 The lotal amount ol ernployee beneflts received by key management personnel Is £560,809 12023 £715,807). Thls includes bonus amounls earned bul not yet paKS. The charity considers ils key management personnel to be Ihe Exec￿Ne Team as listed in the charity infomiation page. There was an amounl due al Ihe year end lo one member of Koy Management Personnel of £17,500 (2023 . £17,500). Pag8 39

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 MARCH 2024 11. Tru$lees' remuneration and expensos During the year, no Truslees received any remuneralion or other benellis (2023- £NILJ. Durln9 Ihe year endod 31 March 2024, Tru51ee expenses 01 £656 {2023- £151) have been Incurred. 12. Inlanglble a$3ot• Group and Company Computer $ollwar• Co•t At 1 April 2023 115,893 Al 31 March 2024 115,893 Amortlsatlon Al 1 Aprll 2023 Charge for the year 112.701 3,192 Al 31 March 2024 115093 Net book value At 31 March 2024 Af 31 March 2023 3. 192 Page 40

ESSEX & HERTS AIR AMBULANCE TRUST (A company limlled by guaraThI￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11 Tanglble lixed assets Group and Company Long.lerm leasehold pioperiy Hellcopiers Motor Fixtureg Olher Ilx•d vehlcles and flttlngs a$sel8 Total Cost or v•lu•lion At l Aprll 2023 Additions Dlsposals 5,848,631 15,704,735 37.976 37,417 433,268 139,650 (79,782> 693,172 20,686 650,793 23,330,599 130.526 366.255 (79,782) At 31 March 2024 5,886,607 15,742,152 493,136 713,858 781,319 23,617,072 Depre¢la15on At l April 2023 Charge lor the year On disposals 847,720 1.981,347 271,239 354,023 351.550 61.800 (79,782) 335,944 112,642 510,312 4,026,873 42,872 842,576 (79.782) Al 31 March 2024 1,118,959 2,335,370 333,568 448,586 S53,184 4,789,667 Not book valu• Al 31 March 2024 4,767,648 13,406,782 159,568 265,272 228,135 18,827,405 At 31 March 2023 5,000.91 J 13, 723.388 81.718 357,228 140.481 19.303. 726 Plant arKI Machinery included Assets Under Con$tru¢tion of £nll (2023 - £8,645,940). Page 41

ESSEX & HEATS AIR AMBULANCE TRUST (A eompany Ilmllod by guarantee) NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31 MARCH 2024 14. Flxed asset inveslments Llsted Inv•$lm•nl• Group Cost or valuatlon Al 1 April 2023 Addilions Disposals Revaluations Amounts wrltten oll Foreign exchange movement 32,437.175 10,939,712 {14,632,1811 2,468,671 893.582 (191,101) Al 31 March 2024 31.915,858 Net book valu• At 31 March 2024 31,915,858 Al 31 March 2023 32.437. 175 Page 42

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Flxed 888•t Inve8tment8 (contlnued) Invesiments In subsldlary Llsled comp8nles Investmonls Tolal Company Go•t or voluallon At 1 April 2023 Additions Dlsposals Revaluations Amounts written off Forelgn exchange rnovemén1 32,437,175 32,437,179 10,939,712 10,939,712 {14,632,181) <14,632,181) 2,468.671 2,468,671 893,582 893.582 1191,1011 (191,1011 At 31 March 2024 31.915,858 31,915,862 Nel book valuo Al 31 March 2024 31,915,858 31,915,862 At 31 March 2023 32,437, 175 32,437.179 15. Stocks Grtsup 2024 Group 2023 .Cornpany 2024 Company 2023 Finished goods and goods for resale 14,570 16,809 14,570 16.809 Page 43

ESSEX & HERTS AIR AMBULANCE TRUST (A comp•ny Ilmlted by guArantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Dobtorl Group 2024 Group 2023 Company 2024 Company 2023 Due wllhln ong year Trade debtors Amounls owed by group undertakings Other debtors Prepaymenls and accrued Income Tax recoverable Legacy Debtor 7,063 4,067 7,041 1.689,266 510 565,859 145,351 838,258 4.067 2,255.865 510 255,732 106,332 1.581.608 716 278.922 106.332 1,581,608 594,005 145.3S1 838,258 1,585,365 1,971,645 3,246,285 4,204. 114 17. Cr￿lI0r8. Amounlg lallln9 duo wllhln on• y•ar Group 2024 Group 2023 Company 2024 Company 2023 Trade rredilors Other laxation and soclal securlty Olhar creditors A¢¢iuals and delerred income 466.622 94,784 590,630 1,875,280 618, 187 71.442 560.804 9.501,802 453,935 94,784 24,233 1,816,695 619.515 71.442 3.673 9.475.047 3,027,316 10,752.235 2,389,647 10. 169,677 Group 2024 Group 2023 Oelerred income at 1 April 2023 Resources delarred during Ihe year Amounts released from previous periods 516,360 538,749 (516,360) 506,836 516,360 (506.836J 538,749 516,360 Page 44

ESSEX a HEATS AIR AMBULANCE TRUST (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of tunds Stalemont ol fund8 - Curreni year Balance at 31 March 2024 Balance al 1 Aprll 2023 Tr•nsfer8 Inlout Galn81 (Los8e$) Income Expendllur• Unrestrl¢ted lunds Doslgnaled lunds Fixed assel fund 19,306,918 Centre Foi Excellence Designation lor expendable endowment (845,766) 366,254 18.827.404 862,179 1452,648) 409,531 5,000,000 5,000,000 25,169,097 (1,298,416) 366,254 24,236,935 Gon•ral funds General Funds 21,667,086 19,393,758 (14,419.112) (225,830) 2,102,393 28,518,295 Total Unrestrlcled fund$ 46036,183 19,393,758 (15.717,528) 140,424 2,102,393 52,755,230 Reslrl¢ted lunds Restricled FurKI 45,432 131,061 (26.176) 1140,424) 9,893 Tolal oi iundg 46,881,615 19,524,819 (15,743,704) 2,102,393 52,765,123 Page 45

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmiled by gu•r•nlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Stalemenl of lund8 (¢onllnu•d) £lm has been designaled lor pxpenditure on our Centre lor Excellence iniliatNe less expondituro Incurred in the current year. Th8 restrlcted funds of £9,893 {2023 - £29.572) represent funds recèlved Irom donors lor Ihe purchasg clinical 8quipm8nt and for the purchase ot aviatlon equipment related to Ilying at night. EHMT operates In a high-risk environment using cutting edge procedures and technologies In order lo move and act lasl to save lives. Withoul regular and continued support our seNice simply could not run. As part ol a plan to commlt to Ihe long term suslainabllity ol Ihe charity, the Trust is currently in the process of crealing a separale expendable endowrnent fund uslng a formal ITUSt deed. £5m has been d85ignaled in anticipation ot the creation of this lund. This is with Ihe inlenlion the lund will be separatety invested for the long term to deliver a Siream ol Investrneni Income to support our services for generations to come. Page 46

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlled by guaranieo> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Stalemenl of lundg (contlnued) Statemont ol funds - prlor year Balance al 31 March 2023 Balance al l Apri12022 Trans18rs In/oul Gains/ (Losses) Income Expenditure Unrestrlcted funds Deslgnaled lunds Fixed asset lund 11.038, 721 Helicopter fund 7.200.000 Centre For Excellence Designalion lor expendable endowmenl {894,922) 9.163,119 (7,200,000) 19,306,918 1.000,000 (137,821) 862,179 5.000,000 5,000.000 19,238,721 (1,032,743) 6,963,119 25,169,097 General fund9 General Funds - all luThJs 24,303,652 15.468,996 (9.940,951) (6,950. 124) (1,214,487) 21.667.086 Total Unreslrlcled lunds 43,542,373 15,468,996 flO,973,694) 12.995 (1,214,487) 46,836,183 Reslrlclod funds Reslrtcied Fund 876, 132 2. 159,823 (2.977.528) (12,995) 45,432 Tolal of funds 44.418,505 17.628,819 (13.951,222) (1,214,487) 46.881.615 Page 47

ESSEX & HEATS AIR AMBULANCE TRUST (A company Ilmlted by guJr4nlee) NOTES TO ThE FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 MARCH 2024 19. Analy*l$ of n•1 a88018 belwo•n funds Analysis of not assots belween lund$ - current period Rastrlcled Unre$trl¢ted lund8 lunds 2024 2024 Total lundrs 2024 Tangible fixed assels Flxed asset investments Currenl assets Credilors due within one yoar 18.827,405 18,827,405 31,915,858 31,915,858 5,039.283 5,049,176 (3,027,216) (3,027,316) 9,893 Total 9,893 52,755.230 52,765,123 Analyslg ol net as$et$ belween fundg - prior p•riod Restricted Unrestricle lunds fvnds 2023 2023 Total lunds 20ZJ Tangible fixed assels Inlanglble lixed assets Flxed asset inveslments Current assets Creditors due ￿thIn one year 19,303,726 19,303, 726 3, 192 3.192 32.437.175 32.437.175 5.844,325 5,889,757 (10, 752.235) (10, 752.235) 45,432 Total 45,432 46,836, 183 46,881.615 Page 48

ESSEX & HERTS AIR AMBULANCE TRUST (A Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Reconclllallon ol nel movem•nt In lunds to nel cash flow from operatlng acllvlt1•9 Group 2024 Group 2023 Net ncomo lor Ihe period {as per Stalement of Financial Actlvities) S,683￿08 2.463,110 Adluslmenls lor: Deprecia￿on and amortisation Charges Lossesl{gainsl on inveslments Dlvidends, inierests and renls Irom Invesiment$ Lossl{prolli) on Ihe sale ol lixed assels Decrease in stocks Decrease/{increasel in debtors Increasel{decrease) in creditors 845.768 (3,171,152> (1,013,791) (16,987) 2,239 386.280 (7,724,919) 894,922 55,103 {618. 722) 12.918 (878,238) 365, 107 Nol cash provlded byl(u8ed In) op•ratlng acllvllle¥ <4,809,054) 2.294,200 21. Analysls of ush and ¢a$h equlvalents Group 2024 Group 2023 Cash In hand 3,449,241 3,901.303 Total cash and cash equlvalenlg 3,449,241 3,901,303 21 Anatysl8 ol ¢hango8 In net debl Al 1 Aprll 2023 Cash Ilowg At 31 March 2024 Cash al bank and in hand 3,901,303 {452,062) 3,449,241 3,901.303 (452,062) 3.449.241 Page 49

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlted by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Pen$lon commltmenls The group operates a defined contribullons penslon $cheme. The assels ol the scheme are held separalely from those of the group in an independently administered lund. The pension cosl charge represenls contilbulions payab18 by the group to Ihe lund and amounted to £185,059 (2023 - £140,602). Contributions totalling £29.436 {2023 - £3,606} wore payable to the fund at Ihe balance sheet dale and are Included in craditors. 24. Op•ratlng léa8• commllrn•nt# Al 31 March 2024 the Group and the Cornpany had eommitments to make luture rnlnlmum lease payments under non-cancellable operating leases as lollows.. Group 2024 Group 2023 Company 2024 Company 2023 Land and bulldlngg Not later Ihan 1 year Laier than l year and not laler than S years Later than 5 year8 423,372 1,033,297 2,795,221 2,962.989 9,482,869 2,987.306 423,372 1.033,297 2,795,221 2.962.989 9,482,869 2.987.306 4,251,890 15,433, 164 4,251,890 15,433,164 During th8 year, the charity purchased its Second hellcopler and ai thal point Ihe charity no longer had any fulure lease comfflllments lor the use of Ihe halicopler. The charity stlll has ongolng Ilnanclal commitmenls in relalion lo pilotage and mainlenan¢e ol the helicopter which are disclosed in nol8 25 but these do not constitute lease commltmenls, The lollowlng lease payments have been recognised as an expgnse In Ihe Stalernenl ol flnanGlal activitles.. Company 2024 Company 2023 Land and bullding lease c0318 Helicopier operating Costs 394,693 3,199,006 369,102 2.545.600 Page SO

ESSEX & HERTS AIR AMBULANCE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. Other flnanclal commitments . h•licopler operatlng cosls Group 2024 Company 2024 Nol later than 1 year Later than 5 years 4,079,890 1,400.552 4,079,890 1,400.552 5,480,442 5,480.442 26. R¢laied party trongactlons Inlormats'on about relaled party transaclions and outstanding balances Is oullined below.. D Hay¥vard is a Trustee of the Charity and is also a partner In a firm ol solicitors, Nackolds. During the year Ihe Charity purchased legal seNices Irom Nockolds. amounting to £18,894 including VAT {2023 £20,202). There was £14,596 oulstandlng al Ihe yaar end {2023 - £13,686). Olher Ihan Ihe above and Ihe Iransactlons identilied wilhln Note 11, there have been no olher related paty transactlons. Page 51

ÈSSÈX & HERTS AtR AMBULNJ4CE TRUST IA ¢ompany Ilmlted by guarnntwl NOTES TO THE FINANCIAL STATEMENTS FOR THe YEAR ENoeD 31 MARCH 2024 Prfnclpil ¥ub•ldl•rl Th• Ic41owhg wefe fjubsidkgry und•rtakings 01 tho Company.. mo• Comp•ny numb•r R•ul•l•r•O •fflc• or prtn¢lp•l Cl••s ol Holdlng pltt• ot buBln• •h•rnB Includ•d In ESBgX and H811¥ Fllyhl For UIB Lottery Limii¢d 04269794 Same as PBTgnl cotnpafty. eeo Qrthayy Company inlormaiion pago Sam8 as parenl cernpany Same as par•ni ¢¢rnp4ny Sam• u paroni ¢empMy 100% Yes g8sex & H8rts Alr Arnbulanc• Trading ￿Mited 'Essex & Herts Flight Far Li18 Lollery Operaiion$ Linteil 'Eu•x & Hqrts Flv4ht Fgr Lil• LDll•ry cr￿¢￿ Care UTr4t•d 03739217 11995048 11995133 Ordinary Ordinary Ordlnary 100% Y•5 100% Ye$ 100% Yes The lin&ncial rou1￿ ol th• lor th• y•arr•'. N•m tnGgm• Exp•ndltUf• PffjllVILD••l lor lh• yttr Emex H8rt8 Fmght For L116 l￿telY Llmlled E58ox & Htrts Ali Ambj1Bn￿ Tra¢ng Umiled 'Esse¥ & H•rts Fliohl For Lrfe Lottery Opwadon8 Lmnlled 'E$sox & Herts Fll9hi For Uf• Lottery Crflicol Carg Llmlled 9,436,5J7 1,$25,917 251 7,910.620 42,674 'iTrthr8cI B￿b￿diall88 Page $2