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2020-12-31-accounts

Company number: 06794828 Charity number: 1129969

AIR LEAGUE TRUST (A company limited by guarantee)

Trustees’ Report and Financial Statements for the year ended 31 December 2020

Group Consolidated Accounts

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Air League Trust

CONTENTS

CONTENTS

Page
Legal and administrative details 1
Report of the Trustees 2-14
Independent Examiner’s Report 15
Statement of Financial Activities 16
Balance Sheet 17 - 18
Notes to the Financial Statements 19-30

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Air League Trust

LEGAL AND ADMINISTRATIVE DETAILS

Trustees:

The Board of Trustees, who are also the directors for the purpose of company law, and who served during the year were:

Mr J B Steel QC FRAeS (Chairman) Mr G R Hodge (Hon. Treasurer) Mr A F Perkins Esq (Resigned 01 April 2020) Mr S J Gervais (Resigned 30 April 2021) Sir Christopher Harper KBD MA CMGR CCMI MIOD RAF (resigned 15 December 2020) Mr S A Pendry (Resigned 1 July 2021) Mr N C Whitney Mr J J Greaves FRAeS Ms C MacAleese Mr A J Seymour FRAeS (Resigned 12 April 2021) Ms Z M Layden (Appointed 12 March 2020) Ms D A McCafferty CBE (Resigned 17 July 2020) Add Air Cdre Anthony Keeling

Company Secretary: Nicholas West Esq (Resigned 09 April 2021)
President: Sir R Bone KCMG (Resigned 15thDecember 2020)
Sir Christopher Harper KBD MA CMGR CCMI MIOD RAF (Appointed 15th
December 2020)
Patron: HRH The Prince Philip Duke of Edinburgh
Chief Executive:
 Nicholas West Esq (until 31 March 2021)
Caroline Smith(from April 2021)
Charity number: 1129969
Company number: 06794828
Principal Offce: 3 Whitehall Court
Westminster
London, SW1A 2EL
Bankers:
 Natwest Bank
Western Avenue
Chatham, Kent, ME4 4RT
Accountants: Charity Accounting Services Limited
Trident Business Centre
89 Bickersteth Road
London SW17 9SH
Independent examiner: Malcolm Lucas FCA
Menzies LLP
Chartered Accountants
Centrum House
36 Station Road
Egham, Surrey
TW20 9LF

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Air League Trust

TRUSTEES REPORT for the year ended 31 December 2020

December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective November 2019).

The Trustees' report is also a Directors' report as required by company law.

Introduction and History

The Air League of the British Empire was founded in 1909 with the aim of encouraging air-mindedness in the young people of Britain as well as ensuring the nation appreciated the vital importance of air superiority during the early years of aviation in the UK. In 1938 The Air League created the Air Defence Cadet Corps, the forerunner to what is now known as the RAF Air Cadets.

The Air League achieved charitable status with the creation of the Air League Educational Trust in 1969. On the18th January 2012, the name of The Air League Educational Trust was amended to The Air League Trust and the change was filed with Companies House and the Charity Commission.

The Air League celebrated its 110th anniversary in 2019, this was commemorated with a six-month exhibition at the RAF Museum Cosford.

The Air League continues as a membership organisation and is now constituted as an incorporated charity (Air League Trust Ltd) with a trading subsidiary (Air League Enterprises Ltd).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Act 2006. The Trust’s governing document is its memorandum and articles of association.

Trustees have complied with their duty in section 11 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission. Trustees are also mindful of the Commission’s guidance on public benefit.

Recruitment and appointment of new trustees

The Trustees, who are the directors of the company for the purposes of company law, are appointed for fixed terms and, by mutual consent, may be reappointed. Trustees are recruited with regard to their respective areas of knowledge, skills and experience.

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Air League Trust

TRUSTEES REPORT for the year ended 31 December 2020

Induction and training of new trustees

Ongoing training is made available to Trustees as required.

Newly appointed trustees undergo a familiarisation period, which includes time visiting the charity’s programmes. Briefings are given on the governing documents, legal obligations under charity law, the financial and administrative position of the charity and the legal and practical constraints under which it operates. New trustees also meet with colleagues on the Board, our principal professional advisors and key staff in an informal setting.

Register of Interests

A register of Trustees’ interests is maintained. Trustees are required to declare and interest, pecuniary or otherwise, in any matter being considered by the Board.

Organisational structure

The Air League is governed by a Board of Trustees chaired by John Steel QC. The Charities Act 2011 requires Trustees to exercise proper stewardship and governance over the Air League.

The Chief Executive Officer, Nick West (resigned April 2021), held responsibility for the day-to-day management of The Air League supported by a small core team based in the London office and specialist contractors delivering the learning and practical elements of our outreach programmes.

The Board of Trustees have extensive experience across aviation and aerospace, including former and current pilots in civilian and military aviation as well as representatives from the air cadets, industry, and associated sectors. The trustees are led by Chair, John Steel QC, with additional support from the President Sir Roger Bone who was succeeded on 15[th ] December 2020 by AM Sir Christopher Harper KBD MA CMGR CCMI MIOD RAF

The Trustees met 8 times during 2020 to agree the strategy and business plan, and approve areas of activity for the charity in line with its objects, including awarding scholarships, investments and reserves strategy, risk management policies and performance.

Charitable Fundraising

The Air League Trust is a registered member of the Fundraising Regulator and a member of the Institute of Fundraising. We work to the Fundraising Code and Promise set out by the Regulator and are signed up to their Code of Practice. During 2020 The Air League employed an in-house Development Director and freelance fundraiser to raise funds to support our core work, as well as major programmes and projects, including Soaring to Success and Project Slingshot.

Related Parties

Whilst the charity has important working relationships with other charities in the Aviation sector and may receive grants for specific purposes from time to time, neither they nor any other agencies are deemed to be related parties.

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Air League Trust

TRUSTEES REPORT for the year ended 31 December 2020

Risk Management

The Trust’s internal control system is designed to manage risk to a reasonable level, rather than remove all risk. In managing risk, the opportunities, and risks in achieving the Air League’s strategic objectives are identified, the likelihood of those risks being realised is evaluated, the impact should they be realised is considered with the controls in place to manage and mitigate them effectively. The CEO holds overall responsibility for the strategic risk register employing best practice to ensure continuous monitoring for potential risk exposure and implementing any remedial actions, thereby enabling risk reduction. The CEO has overall responsibility for updates to the register, so any potential for risks, relating to the possibility of damage to reputation, business activity, finance, volunteers or management of the Air League, are swiftly identified. Internal policies and operations are adapted to changing circumstances and new regulations, accordingly when potential risks are identified they are immediately conveyed to the Trustees via the CEO and staff.

Risk management overall is viewed as a dynamic process which actively seeks to incorporate good practice. It is responsive and current and is managed through regular review of both internal developments and external factors – the political, social, economic, demographic, technological, environmental and legal developments that may influence our exposure to risks or opportunities.

Personal Data

The Air League complies with GDPR and the Fundraising Regulators guidance on data protection, privacy and storage of personal data.

defined as a loss, unauthorised disclosure or insecure disposal. Protected personal data is information that links an identifiable living person with information about them which, if related, would put the individual at significant risk of harm or distress; the definition includes sources of information that because of the nature of the individuals or the nature, source or extent of the information, is treated as protected personal data by the charity.

COVID-19 Pandemic

In response to the COVID-19 pandemic and in line with Government guidance, the Air League closed its offices on 23 March 2020 and put relevant measures in place to allow all employees to continue to work from home. A considered approach has placed the safety of beneficiaries and staff at the forefront of its decision making throughout 2020.

In March 2020 a COVID-19 strategy and plan were developed. After careful consideration and exploration, the decision was made not to apply for the Job Retention Scheme. At this time only the CEO was eligible for furlough, this was not practicable. The Air League was fortunate to be in a relatively stable financial position, in part due to the reserves and investment policies in place to mitigate such risks. Regular financial forecasting and reviews took place throughout the year to ensure the position remained positive and a revised programme delivery plan was put into action.

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TRUSTEES REPORT for the year ended 31 December 2020

________________ As the year progressed and the impact on delivery and staff welfare increased, particularly the ability

to generate commercial and fundraising income. Regular welfare check ups were put in place to support staff. It was agreed that programme delivery would be paused in line with Government guidance to remain at home until which time we could resume in person delivery. Throughout March - May 2020, the team worked to reschedule and scale back delivery. An early decision to adapt our core programmes into a virtual offer was made to ensure beneficiaries were impacted as little as possible. The Leaders Pioneers and Professionals Live streaming sessions were introduced in May 2020 to support our membership and youth in aviation networks.

In July 2020 when restrictions lifted our in-person delivery of Soaring to Success resumed and we launched the programme with Southend Borough Council and were able to deliver a week of Gliding taster days in the small window over this period. Following further restrictions on Schools closure our remaining in-person delivery was paused for the remainder of 2020. Project Slingshot was significantly affected during this period, although teams were selected, and participants interviewed and appointed no physical work could begin. A programme extension was agreed with the lead funders the Department for Transport to ensure the ongoing viability of the project.

OBJECTIVES AND ACTIVITIES

The objects of the Air League are to advance education in aviation and to promote vocational training in the aviation and aerospace industries. To further these objects the charity raises funds in accordance with relevant statutory regulations.

The Air League’s vision is ‘Changing Lives through Aviation’ and its mission is ‘

Inspiring young people by awarding scholarships and work opportunities through aviation.

The Air League’s projects cover several themes around aviation and aerospace, not purely through flying activity. It also creates further opportunities around STEM learning and personal development in support of the wider skills agenda. Our activities are measured using both qualitative and quantitative measures. Through our work, we give young people an experience of the world of work, whether they wish to pursue a career within the aviation and aerospace industries or other sectors.

Broad themes include:

Air League support to help them start a career, build self-esteem and well-being, make them feel valued and realise what they can achieve.

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Air League Trust

TRUSTEES REPORT

for the year ended 31 December 2020

________________ The charity breaks down the perceived barriers regarding entry to the aviation industry and, through its scholarship and outreach programmes, creates a life-long impact on beneficiaries, many of whom stay involved throughout their careers.

positions in the design, development and manufacture of a wide range of technologies, but faces increasing global competition.

Inspiring and creating the next generation of aviation and aerospace leaders, pioneers and professionals across disciplines is vital to the future economic success of the UK. The Air League’s work engaging, and inspiring young people makes a genuine and critical contribution to this nationally important sector.

The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives. These are taken fully into account when planning future activities and setting the grant making policy for the year.

PUBLIC BENEFIT

During the year the Board has considered the guidance from the Charity Commission and Section 17 of the Charities Act 2011 in connection with the duty to meet and report on the public benefit in exercising their powers or duties and has had regard to that guidance in preparing this report.

ACHIEVEMENT AND PERFORMANCE

Soaring to Success

New for 2020 Soaring to Success forms the basis of the Air League’s vision of Changing Lives Through Aviation. It comprises all areas of the Air Leagues youth outreach, engagement programmes.

The Youth Outreach programme was developed following the successful delivery of the test event with Barnsley Metropolitan Borough Council in 2019. Significant funding for the programme was secured from the Department of Transport, United Kingdom, and forms part of their “Reach for the Sky Programme”. The programme is the largest of its kind in the UK. During 2020-2021 it will reach 3000 young people through the stem modules and aviation and aerospace days, and provide the opportunity for 400 of these to experience flight for the first time. During 2020 significant progress was made in adapting the in-person programme to a virtual offer suitable for delivery despite lockdown restrictions during the pandemic.

During the first lockdown in March – May the virtual programme was developed and launched in the South East with Southend Borough Council. During the remainder of 2020, following competition of the virtual modules a number of students who had demonstrated particular interest and potential were selected to participate in a week of Gliding taster days. These took place at Cambridge Gliding Club in July.

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________________ A 3-tier programme was offered to schools and colleges across Southend.

Soaring to Success not only inspires, stimulates, and encourages young individuals from disadvantaged socio-economic backgrounds to consider a career within aviation and aerospace, developing their skills and employability prospects but also acts as a catalyst to spark the inspiration and realisation that this is an opportunity and possibility that is accessible to them.

The workshops and flying opportunities that sit within the programme provide unrivalled experiences for young people to have ‘meaningful encounters with employers’, enable the Air League to showcase the broad range of disciplines that make up the aviation industry as well as providing hope and inspiration in these difficult times.

Soaring to Success continues to form an important part in the post-Covid-19 recovery for the regions and young people it touches. It provides access to employers, potential to develop new skills and inspirational activities that are intended to support the career ambitions of those 14-18 year olds involved who will hopefully consider a career in aviation and aerospace.

Soaring to Success supports the UK’s skills agenda and directly links in with the recommendations of the Gatsby report (Good Career Guidance, 2013. The report was commissioned by Lord Sainsbury and Sir John Holman was appointed to lead a research team to focus on international evidence for ‘what works’ in career development. The Gatsby Benchmark’s referenced in this report underpin the Department of Education’s career strategy as of 2017 and to this day, are relevant in the measurement of success across the UK’s local and central government. Soaring to Success contributes to all of the Gatsby Benchmark’s and most directly to:

  1. Learning from career and labour market information

  2. Encounters with employers and employees

  3. Experiences of workplaces

S2S Project Slingshot – (National Youth Plane Building Programme)

Project Slingshot uses the catalyst of building an aircraft to capture the imagination of young people and explore the different aspects of aircraft manufacture. Apprentices, youth groups (such as cadet organisations), and university students involved in the programme will experience a balance of meaningful hands on time on the aircraft as well as learning about engineering, manufacturing and aircraft technologies.

The participants also gain mentoring from industry experts, armed forces engineers and a range of volunteer/partner organisations such as RAF Sport Aircraft.

Aston University Engineering Academy (AUEA) and the Manufacturing Technology Centre (MTC) and Oxford and Cullum who are delivering the build, with students and apprentices. Participants at each location were interviewed and selected ready for the start of the programme.

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for the year ended 31 December 2020

________________ Covid-19 significantly impact the delivery of the programme, with AUEA closed to pupils and MTC sites both closed, it became clear that the start of the build would not be possible during 2020. Kit was ordered but delivery was not possible during the covid restrictions. The decision was made to postpone the start of the build until Schools reopen in 2021.

Work continued with selected participants at AUEA by providing lectures and lessons on the techniques required to complete the programme successfully. Plans were made by delivery partners for the spaces and locations at their sites to allow for the programme to commence as smoothly as possible once restrictions were lifted.

As part of the Soaring to Success programme banner, we are also delivering other projects and initiatives including, Inspired Engineering and Youth in Aviation and Aerospace. Both of these projects are described in more below.

Scholarships

Each year the Air League offers scholarships to support young people whose desire is to enter the aviation and aerospace industries, whether by joining the Armed Forces or in the civil aviation industry. Annually we aim for 100 specific named awards. In 2020, COVID-19 significantly impacted the ability to complete flying and engineering scholarships the decision was taken to award scholarships earlier in the year to allow completion during the summer months when COVID restrictions we relaxed. It was not possible to offer engineering scholarships due to work from home ruling for industry partners and military base closure to civilians these will be offered again in 2021.38 Scholarships were awarded in 2020. The Air League scholarships are intended to remove a burden of financial cost that create barriers to entry.

The Air League supports talented individuals who want to enter the industry by supporting their early flying activity. In addition to the core offering of flying scholarships, the Air League supports aspiring engineers, drone pilots, and disabled veterans .

In recent years, the focus has been encouraging under-represented groups in society to consider a career in the industry through applying for scholarships. From Table 1, below.

This resulted in the following statistics for 2020

25% female representation in drone scholarships

This surpasses the typical industry standards, where in the UK:-

4.77% of commercial pilots are female

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for the year ended 31 December 2020

________________ Details of the scholarships awarded in 2020 can be found in Table 1 below.

Type of Scholarship or Bursary Number of Scholarships Awarded
12-h Flying Scholarships 13
5-h Flying Scholarships 9
Gliding Scholarship 3
Flying Bursary 5
Eagle Eye Innovations Drone Scholarship 4

Inspired Engineering Programme

This programme was designed and planned for delivery during 2020, but Covid restrictions were such that it was not possible to bring large groups together, the decision was made to pause the programme for 2020 and look to resume in 2021.

Industrial Engagement

The Air League has continued to develop partnerships with key UK aviation and aerospace businesses with which we have provided tailored outreach programmes. It seeks to use these opportunities to grown in partnership with organisations around the UK to deliver optimal impact to as large a number as possible.

2020 saw continued re-alignment of Air League activities, and it sought new ways to expand its work. More opportunities were created to give young people, who might have little knowledge of aviation, the chance to actively participate in larger groups in aviation and aerospace activities.

Membership Engagement

From March 2020 all membership events were cancelled in line with Government Guidance. This affected the delivery of benefits a decision was made to provide members with an extension on their membership during this period. Online engagement continued during this time through newsletters and updates.

Leading Edge

The Leading Edge initiative is a cohort of previous scholars and youth members (under 35) who actively support new scholars and members joining the Air League. It acts as a wider network for those who wish to pursue a career in aviation. It is open to all members aged under 35, all of its members are volunteers.

It creates opportunities to meet like-minded individuals, the group pro-actively organise events, which are intended to give insight into real life engineering, flying and aviation operations.

They gain access to niche industry events, military and commercial site visits, along with careers advice and mentoring. They also provide the core volunteer group who to support our many activities

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________________ throughout the year.

pause the programme of events for 2020. Two new co-chairs were appointed in mid-2020 to review and redevelop the offer and programmes.

Following the Air Leagues introduction of Leaders, Pioneers and Professionals, members of the leading edge were invited to support the delivery and planning of the live session and a number became part of the panel of interviewers. They continued to make a strong contribution to the Trust.

Communication

The annual Slessor Lecture was the only major event to take place in 2020. Held at the House of Commons on 26[th ] February Air League Council member Robert Courts MP hosted the event that was attended by a large number of Air League Trust members and guests for a standing room only event. The 2020 lecture was sponsored by Lockheed Martin and saw guest speaker Cdr Ed Phillips RN (Commander Air, HMS Queen Elizabeth) outline the Royal Navy’s pioneering new era of military capability, the F-35B and Carrier Task Group Aviation. Following the lecture, Robert Courts MP chaired a panel discussion comprising of military and industry professionals including Cdr Phillips, Mike Mansergh (Head of Strategic Engagement – Maritime at Lockheed Martin UK), Tony Rae (Chairman of the Management Board – 2Excel Aviation Ltd), and Nick Childs (Senior Fellow – Naval Forces and Maritime Security at the International Institute for Strategic Studies).

All other events scheduled for 2020 were cancelled or postponed to resume in 2021.

Awards

During 2020 the decision was made to postpone awarding its annual medals. Selection took place for the awards that would be presented in 2021 once events could safely resume.

PLANS FOR THE YEAR AHEAD

Our Covid-19 Strategy provides and agile approach to the forward delivery of our programmes. It continues to focus on both our national role as the UK’s leading aviation charity for young people and our regional delivery, working alongside partners in all areas of the country. Through this multi-tiered approach, we can ensure that all our work is complementary and that resources are deployed efficiently and appropriately and that programmes are complementary and offer a potential pathway through to future careers.

A new team member will be joining the Charity in January 2021. Caroline Smith MCIOF will join as Director of Programmes and Operations. She will be leading on our Development and Education programmes in addition to providing strategic and governance support to the CEO. Recruitment of additional administration support will also be recruited.

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TRUSTEES REPORT for the year ended 31 December 2020

________________ Soaring to Success

The Soaring to Success Youth Outreach will expand its offer across four Regions in the UK, the Southeast, Northeast, Northwest and West Midlands. Reaching 3000 young people and providing the first steps in flight to a further 400.

Project Slingshot will commence its build programme across the three sites as soon as Schools and Businesses are able to reopen. Work will continue with participants until this time upskilling them on build techniques and the history of flight.

University Engineering Academy (AUEA) and Manufacturing Technology Centre (MTC) and Oxford and Cullum delivering the build. The Final assembly site will be finalised and the programme will launch

During the delivery of the programme methods and techniques will be recorded, alongside addition learning. This will then be developed into modules that can be shared more widely with schools as additional learning resources.

The intention is to grow the programme over a number of years to include different aircraft types, electrification and alternative fuels, as well as design and development. As the completed aircraft will be used for air experience flying for young people for 20 or so years, thousands will benefit from the programme and it will therefore directly support the national skills agenda.

All other programmes will resume and further development to our Innovators Challenge that will allow them to be launched to a global audience.

Inspired Engineering Programme

In order to create a better experience for the Trust’s engineering scholars a new programme that was developed for delivery in 2020, which is planned for delivery in 2021 The Inspired Engineering Programme will be delivered by Cranfield University thanks to a generous commitment from Aston Martin that stems from the sale of DBS Superleggera Concorde Edition cars.

Future planned activity includes experience days for 14-16 year olds and a 5-day immersive aerospace engineering course for 17-18 year olds run in collaboration with Cranfield University.

The aim is to inspire students with compelling exposure to aerospace engineering e.g. aerodynamics, manufacturing, flight testing, MRO, ATMS amongst others and aid development of career pathways into apprenticeships, the Armed Forces, Universities, and industry graduate schemes.

The Air League has plans to make Inspired Engineering an annual course that may well be replicated in the north of England through working alongside other academic institutions and employers to provide young people with the opportunity to experience engineering disciplines and be inspired to pursue a career in aviation, aerospace or STEM.

Scholarships

In the year ahead, the Air League is looking to evolve its scholarship offering even further so that it becomes more closely aligned with the wider Soaring to Success Initiative and resume close to

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________________ pre-pandemic levels of awards This will be dependent on the impact the pandemic has on forward fundraising and the ability for businesses to reopen safely. Our plan is to make the scholarships as inclusive as possible as well as ensuring that those from communities with the least opportunities are given priority access to the scholarship portfolio. This means that those who have attended regional Soaring to Success engagement events are mentored to gain access to further flying and engineering opportunities to change their lives through aviation, alongside running a direct scholarship application process which is open to all members.

The Air League believes that having multiple pathways to the development opportunities enabled by the scholarships will ensure that the Trust is able to support the right people who then have the capacity to act as positive role models and mentors for the next generation of aviators and aerospace professionals.

Membership

The Individual membership offer will be redeveloped and relaunched in 2021, alongside a refreshed corporate membership offer.

Annual Awards

These will recommence in 2021, with the selected winners being awarded from 2020.

Events

Our programme of events will be developed in line with Government lifting of restrictions. We aim the hold our Annual Reception, Sir Andrew Humphrey Memorial Lecture, Youth in Aviation and Young Professionals Networking events as a minimum offer during 2021.

Leaders, Pioneers and Professionals

An Air League Facebook live session will be hosted in early 2021 with Capitan “Sully” Sullenberger, exploring his career and advice for young aspiring pilots and airline crew. The programme will be developed to offer ongoing sessions with leaders from across aviation and aerospace.

FINANCIAL REVIEW

The income during the year was £417,185 (2019: £ 512,784). While the investment income remained the same the rest of the income was reduced which was affected by the pandemic. The expenditure for the year was also decreased to £ 360,914 (2019: £ 593,855) reflecting the lockdown for pandemic.

Financial management and controls were strengthened during the year by the appointment of Charities Accounting Services who took over the book-keeping and accounting activities for the Trust and Enterprises. The change gave the Trustees more timely and clearer reporting on financial matters and significantly strengthened the financial controls.

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TRUSTEES REPORT for the year ended 31 December 2020

In addition the Trustees agreed that further focus should be placed on fundraising and that an experienced fundraiser with a good project management background should be recruited. This resulted in the appointment of Caroline Smith as COO in January 2021.

Reserves level and policy

The total funds of The Air League at 31 December 2020 were £1,663,884 (2019: £1510,721) of which £300,316 (2019: £273,898) were held as permanent endowment and £708,406 as restricted funds (2019: 502,270). The balance represents unrestricted funds of £655,162 (2019: £734,553), of which £33,257 (2019: £Nil) were held in tangible fixed assets, leaving the balance of free reserves of the Trust of £621,905 (2019: £734,553).

Taking one year with another, the Trustees seek to spend all net income as it arises. Trustees seek to maintain a sufficient capital base of unrestricted funds appropriate to the operation of the Trust while deriving spendable funds from this source which are used for the purposes of the charity. The Trustees consider that the value of such funds at 31 December 2020 meets these objectives.

Investment policy, performance and objectives

The Trustees’ investment powers are derived from the Trust’s Memorandum and Articles of Association. The Trustees engage investment managers to manage the investments of the Trust and the Endowment Fund.

The Trustees’ investment policy is to maintain the real capital value of the Trust’s investments by seeking to achieve a total real rate of return of 3.75% per annum over rolling five-years periods, of which 2.5% will be in the form of income. The current gross income yield is 2.58%. The portfolio has experienced a valuation loss of 6.6% over the last 12 months.

The Trustees follow an ethical investment policy.

Going concern

After making appropriate enquiries, including assessments of the key risks and future budgets, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies at Note 1.

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TRUSTEES REPORT for the year ended 31 December 2020

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Board of the Air League Trust is responsible for preparing Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

The Board as the Trustee body is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. The Board as a Trustee body is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

ON BEHALF OF THE BOARD

J Steel Esq QC FRAeS, Chair

Date: 23 September 2021.

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF AIR LEAGUE TRUST (‘the Company’) for the year ended 31 December 2020

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by

the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.

with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Malcolm Lucas FCA Menzies LLP Heathrow, Centrum House 36 Centrum House Egham, Surrey TW20 9LF Dated: 23 September 2021

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Air League Trust

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2020

Notes
INCOME AND ENDOWMENTS
Donations and legacies
3
Investment
4
Other incomes
5
Total incoming resources
EXPENDITURE
Raising funds
6
Charitable activities
7
Total expenditure
Net gains/(losses) on investment
Corporation tax
NET INCOME /(EXPENDITURE)
Transfer between funds
16
NET MOVEMENT IN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Endowment Restricted Unrestricted 2020 Total 2019 Total
funds
funds
funds
funds
funds

£
£
£
£
£
0
223,500
153,271
376,771
469,018
7,717
14,151
18,546
40,414
43,361
0
0
0
405
7,717
237,651
171,817
417,185
512,784

0
0
240,658
240,658
225,940

0
32,551
87,705
120,256
367,915
0
32,551
328,363
360,914
593,855
18,701
34,292
44,699
97,692
4,965
(801)
(801)
(483)
26,418
239,392
(112,648)
153,163
(76,589)

-
(33,256)
33,256
-
-
26,418
206,136
(79,392)
153,163
(76,589)
273,898
502,270
734,553 1,510,7211,587,310
300,316
708,406
655,162 1,663,884 1,510,721

All incoming resources and resources expended derive from continuing activities. The charity has no other recognised gains or losses for the year other than the results above.

The notes form an integral part of these financial statements

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Doc ID: 63874fcc65677fb3e6497dbfa000c25b3225248d

Air League Trust

CONSOLIDATED BALANCE SHEET as at 31 December 2020

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS: amount falling due within one year
15
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
16
Endowment funds
Restricted funds
Unrestricted funds
£


30,323
66,402		 Company Number: 06794828
2020
2019

£
£
£
33,257
1
1,561,417
1,463,725
1,594,674
1,463,726

94,702

121,143

215,845

(168,850)
69,210
46,995
1,663,884
1,510,721
300,316
273,898
708,406
502,270
655,162
734,553
1,663,884
1,510,721		 Company Number: 06794828
2020
2019

£
£
£
33,257
1
1,561,417
1,463,725
1,594,674
1,463,726

94,702

121,143

215,845

(168,850)
69,210
46,995
1,663,884
1,510,721
300,316
273,898
708,406
502,270
655,162
734,553
1,663,884
1,510,721
1,594,674





69,210
96,725
(27,515)		 215,845
(168,850)








1,663,884
300,316
708,406
655,162
1,663,884

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

small companies regime.

J Steel Esq QC FRAeS, Chair

Dated: 23 September 2021

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Air League Trust

COMPANY BALANCE SHEET as at 31 December 2020

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS: amount falling due within one
year
15
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
16
Endowment funds
Restricted funds
Unrestricted funds		 £
14,050
56,425		 Company Number: 06794828
2020
2019

£
£
£
1,561,417
1,463,725
1,561,417
1,463,725

72,373

117,315

189,688

(222,601)
30,934
(32,913)
1,592,351
1,430,812
300,316
273,898
708,406
502,270
583,629
654,644
1,592,351
1,430,812		 Company Number: 06794828
2020
2019

£
£
£
1,561,417
1,463,725
1,561,417
1,463,725

72,373

117,315

189,688

(222,601)
30,934
(32,913)
1,592,351
1,430,812
300,316
273,898
708,406
502,270
583,629
654,644
1,592,351
1,430,812
1,561,417





30,934
70,475
(39,541)		 189,688
(222,601)







1,592,351
300,316
708,406
583,629
1,592,351

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

the small companies regime.

Companies Act. Unconsolidated profit for the charity was £153,163 during the year.

J Steel Esq QC FRAeS, Chair

Dated: 23 September 2021

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

1. General information

Air League Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Whitehall Court, London, SW1A 2EL. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Accounting policies

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Company has elected to apply all amendments to FRS 102, as set out in the Financial Reporting Council's triennial review published in December 2017, and included in Update Bulletin 2 to the Charities SORP (FRS 102), prior to mandatory adoption for accounting periods beginning on or after 1 January 2019.

recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

at this stage, it is not possible to reliably forecast what the long term impact of this may be. The Trustees' are confident, however, that the company will be able to see through the current uncertainty as income streams have not been affected by Covid-19 as they are taking action to control costs where appropriate and will continue to monitor the position carefully. Given the uncertainties that exist, the Trustees' believe these actions should enable the company to continue in operational existence. Therefore, it is the Trustee’s opinion that the going concern basis of preparation of the accounts continues to be appropriate.

2.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

the donation, unless performance conditions require deferral of the amount.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

2.4 Expenditure

party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Investments

and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. Air League Enterprise is exempt from audit under s479A.

2.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.8 Financial instruments

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9 Pensions

amounts payable by the Company to the fund in respect of the year.

2.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

3 Income from donations and legacies

General donation
Trust and foundations grants
Corporate donations
Department of Transport
Corporate subscriptions
2019 analysis
4Investment income
Listed investments
Bank interest
2019 analysis
5Other incoming resources
Other incoming
2019 analysis		 Endowment
funds
Restricted
funds
Unrestricted
funds
2020 Total
2019
£
£
£
£
£
3,000
14,442
17,442
240,777
0
64,500
0
64,500
58,000
0
84,136
84,136
112,054
156,000
0
156,000
0
54,693
54,693
58,187
0
223,500
153,271
376,771
469,018
0
469,018
469,018
Endowment
funds
Restricted
funds
Unrestricted
funds
2020 Total
2019
£
£
£
£
£
7,717
14,151
18,446
40,314
43,279
0
100
100
82
7,717
14,151
18,546
40,414
43,361
9,777
18,123
15,461
43,361
Endowment
funds
Restricted
funds
Unrestricted
funds
2020 Total
2019
£
£
£
£
£
0
0
0
405
0
0
0
0
405
405
405

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

6 Expenditure on raising funds

Staff costs
Events costs
Marketing and communications
Support costs
2019 analysis		 Endowment
funds
Restricted
funds
Unrestricted
funds
2020 Total
2019
£
£
£
£
£
0
156,137
156,137
138,072
0
14,731
14,731
940
0
4,765
4,765
653
0
65,025
65,025
86,275
0
0
240,658
240,658
225,940
225,940
225,940

7 Analysis of expenditure on charitable activities

Summary by fund type

Aviation experiences
Flying scholarships
Flying bursary
Gliding scholarships
Boeing continental wings
Engineering scholarships
2019 analysis		 Endowment
funds
Restricted
funds
Unrestricted
funds
2020 Total 2019
£
£
£
£
£
6,000
35,939
41,939
205,886
22,741
43,525
66,266
140,752
2,250
4,282
6,532
18,312
1,560
1,837
3,397
1,181
0
2,123
2,123
424
0
0
0
1,360
0
32,551
87,705
120,256
367,915
1,360
8,000
358,555
367,915

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

8 Analysis of expenditure by activities

Direct Support Support
activities costs 2020 Total 2019
£ £ £ £
Aviation experiences 19,262 22,677 41,939
205,886
Flying scholarships 30,435 35,831 66,266 140,752
Flying bursary 3,000 3,532 6,532 18,312
Gliding scholarships 1,560 1,837 3,397 1,181
Boeing continental wings 975 1,148 2,123 424
Engineering scholarships 0 0 0 1,360
55,232 65,024 120,256 367,915
2019 analysis 281,645 86,270 367,915
Analysis of support costs
Engineer
Aviation
Flying		 Gliding
Boeing		 ing
experien scholarsh
Flying
scholarsh		 continen scholars
2020
ces ips
bursary
ips		 tal wings hips
Total
2019
£ £ £ £
Rent and rates 2,917 4,609 454
236		 148 0
8,364		 12,440
Insurance 625 988 97
51		 32 0
1,793
4,004
Newsletter printing 76 119 12
6		 4 0
217
2,707
Postage and stationary 871 1,376 136
71		 44 0
2,497
351
IT maintenance and
website 1,369 2,164 213
111		 69 0
3,927
1,888
Telephone and fax 0 0 0
0		 0 0
0
23
APAG, PAG and events 250 395 39
20		 13 0
717		 19,735
Youth publicity 640 1,011 100
52		 32 0
1,835
149
Bank charges 163 258 25
13		 8 0
468
1,455
Sundry expenses 1,995 3,152 311
162		 101 0
5,721
3,085
Interim CEO,
Governance compliance 7,547 11,925 1,175
611		 382 0
21,641		 21,142
Professional fees 4,585 7,245 714
371		 232 0
13,148		 14,330
Business development 128 202 20
10		 6 0
367
65
Other cost 1,511 2,387 235
122		 76 0
4,332
4,900
22,677 35,831 3,532
1,837		 1,148 65,024 86,273

8 Analysis of support costs

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

____________
2019 analysis
48,551
33,175
3,839
281
9Independent examiner's remunerations
Independent examination fee
10Staff costs
Group
2020
£
Gross salaries
139,667
NI contribution
13,261
Employer pension
3,209
156,137
2020
No.
The average full time equivalent number of employees
2
No employee received emoluments in excess of £60,000 (2019: nil)
Group
2020
No.
In the band £70,001 - £80,000
In the band £ 90,001 - £100,000
1		 ________ __ ____
427
0
86,273
2020
2019
£
£
4,080
2,200


Group
2019
Charity
2020
Charity
2019

£
£
£

127,080
139,667
127,080

9,705
13,261
9,705

1,287
3,209
1,287
48,551
33,175
3,839		 281
Group
2020
£
139,667
13,261
3,209
156,137
138,072
156,137
138,072
2020
No.
2
2019
2020
2019

No.
No.
No.

3
2
3


Group
2019
Charity
2020
Charity
2019

No.
No.
No.
1
1

1

The remuneration of key management personnel during the year was £ 99,314 (2019: £86,691)

During the year ended 31 December 2020, expenses totalling £286 were reimbursed or paid directly to 1 Trustees (2019 - £235). The expenses reimbursed during the year were for travel and printing costs.

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

12 Tangible Fixed Assets - Group

Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Provided during year
At 31 Mar 2021
Net book value
At 31 Mar 2021
At 31 Mar 2020		 Offce
equipment
Light aircraft
Slingshot
Total
£
£
£
35,956
0
35,956
0
33,256
33,256
35,956
33,256
69,212
35,955
0
35,955
0
0
0
35,955
0
35,955
1
33,256
33,257
1
0
1

13 Fixed assets investments

Cost or valuation
At 1 January 2020
Revaluations gains
At 31 December 2020
Net book value
As 31 December 2020
At 31 December 2019		 Listed
investments
£
1,463,725
97,692
1,561,417
1,561,417
1463725

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

Air League Enterprises Ltd is a company limited by guarantee having no share capital and The Air League Trust is the ultimate parent company. The registration number 00102488, registered office at 3 Whitehall Court, London SW1A 2EL. The company's main activity is to raise funds for the parent charitable company Air League Trust and all profit donated to the parent charity. During 2020 the co0mpany turnover £54,692 (2019: 58,187), expenditure £62,271 (2019: 55,661) and loss £8,377 (2019 profit £2,058).

14 Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued Income		 Group
2020
Group
2019
Charity
2020
Charity
2019
£
£
£
£
18,550
30,210
8,268
8,420
5,991
7930
793
5,782
63,699
5,782
63,160
30,323
94,702
14,050
72,373

15 Creditors: Amounts falling due within One year.

Creditors: Amounts falling due within One year.
Bank overdraft
Amount owed to group undertakings
Taxation and social security
Other creditors
Accrual and deferred income
Trade creditors		 Group
2020
Group
2019
Charity
2020
Charity
2019
£
£
£
£
0
37,468
0
32,580
0
0
13,859
77,606
12,420
14,353
11,655
13,590
5,634
11,815
5,634
11,815
0
102,076
87,010
9,461
3,138
8,393
27,515
168,850
39,541
222,601

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

15 Statement of funds

2020 analysis
ENDOWMENT FUNDS
CA Barnes
Somers Engineering
Scholarship
Total Endowment funds
RESTRICTED FUND
Buckland Flying Bursary
McRobert Trust
Joan Angus
Prince Phillip Flying
Scholarship
Sir A Marshall Flying
Scholarship
R Kronfield Fund
ALDS Fund
Keith Man
Scaraman Fund
Adrian Swire Trust
BA ED Strongman Bursary
Dept of Transport
Forbes insurance
McQuid Fund
Sir A Humphrey Fund
Swire Charitable Trust
Air Crew Trust
Total Restricted funds
UNRESTRICTED FUND
General funds
General funds
Cobham bequest		 Balance at
01 Jan 2020
Income Expenditure
Gain/
(Losses)
Transfer
between
funds
Balance at
31 Dec
2020
£
£
£
£
£
£
65,123
1,835
0
4,446
71,404
208,775
5,882
0
14,255
228,912
273,898
7,717
0
18,701
0
300,316
782
22
0
53
857
101,690
2,865
0
6,943
111,498
855
24
0
58
937
220,883
6,224
0
15,081
242,188
116,448
3,281
(2,429)
7,951
0
125,251
45,305
1,276
0
3,093
49,674
16,307
459
1,113
17,879
0
1,500
(750)
750
0
18,000
(5,665)
12,335
0
15,000
(7,886)
7,114
0
(1,500)
(1,500)
0
156,000
(7,561)
(33,256)
115,183
0
(428)
(428)
0
(855)
(855)
0
3,000
(991)
2,009
0
15,000
(4,486)
10,514
0
15,000
15,000
502,270
237,651
(32,551)
34,292
(33,256)
708,406
186,472
156,375
(329,164)
7,279
33,256
54,219
356,799
10,053
24,361
391,213
543,271
166,428
(329,164)
31,640
33,256
445,432

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

Designated funds
Anonymous
Battle for Britain
Red Arrows
MJ Marshall - Youth Aviation
Lucas Aerospace
Boeing Fund
GSS Fund
Total Unrestricted funds
Total of funds		 87,633
2,469
5,983
96,085
41,700
1,175
2,847
45,722
2,569
72
175
2,816

12,388
349
846
13,583
46,992
1,324
3,208
51,524
0
0
0
0
0
0
0
191,282
5,389
0
13,059
0
209,730
734,553
171,817
(329,164)
44,699
33,256
655,162
1,510,721
417,185
(361,715)
97,692
0 1,663,884

Endowment Funds:

CA Barnes

Somers Engineering Scholarship Fund - A donation from the J N Somers Will Trust for aspiring aviation engineers. Sponsors placement accommodation and travel.

Restricted Funds:

Buckland Flying Bursary

Joan Angus

MacRobert Trust - This fund provides scholarships from the residents of Scotland.

Prince Phillip Flying Scholarship - Restricted to fund an annual scholarship of up to 30 hours. The scholarship must be awarded to an air cadet that has also achieved a Duke of Edinburgh award.

Sir Arthur Marshall FS scholarship annually.

Keith Man - Flying bursary provided.

Scaraman Fund - Flying scholarship and bursaries for current and past Air Cadets.

Adrian Swire Trust

BA ED Strongman Bursary

Dept for Transport - Funding under the “Reach for the sky” programme to support “Soaring Success including project Slingshot .

Forbes Insurance - Fund to provide gliding bursary.

McQuid Fund - Fund to provide scholarships.

Sir A Humphrey Fund - Fund to provide scholarships.

Swire Charitable Trust

Air Crew Trust - Fund to provide scholarships.

Doc ID: 63874fcc65677fb3e6497dbfa000c25b3225248d

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

Designated Funds:

Trustees set aside these funds to give Flying Scholarships to be spent within the year and will be reviewed annually.

Red Arrows - A trust amount which is to be awarded only to a current air cadet.

Michael J Marshall Youth in Aviation - Donation from Sir Michael Marshall to yield some income to pay for lower level items within Youth in aviation.

Battle of Britain - Amount fundraised from the Battle of Britain Fighter Association to pay for scholarship.

Lucas Aerospace -Fund provided to give Flying Scholarships, in perpetuity

Prior year analysis
ENDOWMENT FUNDS
CA Barnes
Somers Engineering
Scholarship
Total Endowment funds
RESTRICTED FUND
Buckland Flying Bursary
McRobert Trust
Joan Angus
Prince Phillip Flying
Scholarship
Sir A Marshall Flying
Scholarship
R Kronfelf Fund
ALDFS Fund
Total Restricted funds
UNRESTRICTED FUND
General funds
General funds
Cobham bequest		 Balance at
01 Jan 2019
Income
Expenditur
e
Gain/
(Losses)
Transfer
between
funds
Balance at
31 Dec
2019
£
£
£
£
£
£
62,545
2,313
265
65,123
201,816
7,464
(1,360)
855
208,775
264,361
9,777
(1,360)
1,120
0
273,898
751
28
3
782
100,671
3,723
(3,130)
426
101,690
822
30
3
855
212,139
7,845
899
220,883
114,171
4,222
(2,429)
484
0
116,448
45,855
1,696
(2,441)
195
45,305
15,662
579
66
16,307
490,071
18,123
(8,000)
2,076
0
502,270
311,111
478,064
(584,228)
988
(19,463)
186,472
0
356,799
356,799
311,111
478,064
(584,228)
988
337,336
543,271

Designated funds

Doc ID: 63874fcc65677fb3e6497dbfa000c25b3225248d

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

as at 31 December 2020
_______
Anonymous
Battle for Britain
Red Arrows
MJ Marshall - Youth Aviation
Lucas Aerospace
Boeing Fund
GSS Fund
Total Unrestricted funds
Total of funds		 _________
84,165
3,112
356
87,633
40,050
1,481
169
41,700
3,186
118
(750)
15
2,569
11,898
440
50
12,388
45,132
1,669
191
46,992
320,470
(320,470)
0
16,866
(16,866)
0
521,767
6,820
(750)
781 (337,336)
191,282
832,878
484,884
(584,978)
1,769
0
734,553
1,587,310
512,784
(594,338)
4,965
0 1,510,721

17 Analysis of net assets between funds

2020 analysis
Fixed assets investments
Current assets
Creditor due within one year
Prior year analysis
Fixed assets investments
Current assets
Creditor due within one year		 Endowment
funds
Restricted
funds
Unrestricted
funds
2020 Total
£
£
£
£
300,316
708,406
585,952
1,594,674
0
0
96,725
96,725
0
0
(27,515)
(27,515)
300,316
708,406
655,162
1,663,884
Endowment
funds
Restricted
funds
Unrestricted
funds
2019 Total
£
£
£
£
273,898
502,270
687,558
1,463,726
0
0
215,845
215,845
0
0
(168,850)
(168,850)
273,898
502,270
734,553
1,510,721

30

Doc ID: 63874fcc65677fb3e6497dbfa000c25b3225248d

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS as at 31 December 2020

17 Related party transactions

At the balance sheet date, the trust owed a balance of £13,859 (2019: £77,606) to Air League Enterprises Limited, a company over which the trust has joint control and significant influence.

The results of Air League Enterprises Limited have been consolidated in the accounts of Air League Trust.

Air League Enterprises Limited exists solely to assist in funding the activities of the charity. Donations made to the charity during the year amounted to £nil (2019: £33,000).

31

Doc ID: 63874fcc65677fb3e6497dbfa000c25b3225248d