| Page | |||
|---|---|---|---|
| Legal and administrative | details | ||
| Report ofthe | Trustees | 2-19 | |
| Independent | Examiner's | Report | 20 |
| Statement of | Financial Activities | 21 | |
| Balance Sheet | 22-23 | ||
| Notes tothe | Financial Statements | 24-36 |
| Patron: | HRH The Prince Philip | Duke of Edinburgh | Duke of Edinburgh | Duke of Edinburgh | KG KT(deceased 09April 2021) | ||
|---|---|---|---|---|---|---|---|
| President: | SirChristopher Harper |
KBEMA CMGR CCMI MIOD RAF | |||||
| Trustees: | The Board ofTrustees, | who | are also the | directors for the purpose of | |||
| company law, and who |
served during the year were: | ||||||
| Mr J BSteel KC FRAeS | (Chairman) | ||||||
| Mr G R Hodge (Hon. Treasurer) | |||||||
| Mr N CWhitney FRAeS MBE |
|||||||
| Mr JGreaves FRAeS | |||||||
| Ms CMacAleese FRAeS | |||||||
| Ms2 M Layden FRAeS | |||||||
| Air Cdre Anthony Keeling 0 BE MA CEng FRAeS |
|||||||
| Ms ATBernie (Appointee 08 February | 2022) | ||||||
| Mr R FSBaker (Appointed | 23June 2022) | ||||||
| Mr A Perkins (Reappointed |
22September | 2022) | |||||
| Company | Secretary | Mr I C Morrison CBEFRAeS(Appointed |
4Jan 2022) | ||||
| Management: | Mr IC Morrison CBEFRAeS | (Chief Executive Officer) | |||||
| Ms CSmith, Chief Operating | Officer (Resigned Sep 2022) | ||||||
| Charity number: | In England and Wales 1129969and Scotland SC052408 |
||||||
| Company | number: | 06794828 | |||||
| Principal | Office: | 3Whitehall Court |
|||||
| London | |||||||
| SW1A2EL | |||||||
| Bankers: | NatWest Bank | ||||||
| Western Avenue |
|||||||
| Chatham, Kent |
|||||||
| ME44RT | |||||||
| Accountants: | Charity Accounting Services | Limited | |||||
| Spaces | |||||||
| 6Sutton Plaza, Sutton | |||||||
| London | |||||||
| 5M14FS | |||||||
| Independent | examiner: | Janice Matthew FCA |
|||||
| Menzies LLP | |||||||
| Chartered Accountants | |||||||
| Centrum House |
|||||||
| 36Station Road | |||||||
| Egham, Surrey | |||||||
| TW20 9LF |
| Endowment | Restricted | Unrestricted | 2022Total | 2021Total | |||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |||
| Notes | |||||||
| INCOME AND ENDOWMENTS | |||||||
| Donations and legacies | 311,483 | 263,080 | 574,563 | 113,905 | |||
| Investment | 5,612 | 16,840 | 22,452 | 38,306 | |||
| Total incoming resources | 5,612 | 311,483 | 279,920 | 597,015 | 152,211 | ||
| EXPENDITURE | |||||||
| Raising funds | 217,723 | 217,723 | 153,997 | ||||
| Charitable activities |
3,645 | 234,918 | 245,352 | 483,915 | 293,054 | ||
| Total expenditure | 3,645 | 234,918 | 463,075 | 701,638 | 447,051 | ||
| Net gains on investment | (70,200) | (84,247) | (154,447) | 165,270 | |||
| NET INCOME /(EXPENDITURE) | (68,233) | 76,565 | (267,402) | (259,070) | (129,570) | ||
| Transfer between funds |
15 | (5,612) | (194,983) | 200,595 | |||
| NET MOVEMENT IN FUNDS |
(73,845) | (118,418) | (66,807) | (259,070) | (129,570) | ||
| Total funds brought forward | 335,284 | 588,287 | 610,743 | 1,534,314 | 1,663,004 | ||
| FUNDS CARRIED FORWARD | financial | 261,439 | 469,869 | 543,937 | 1,275,245 | 1,534,314 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | E | E | E | ||
| FIXEDASSETS | |||||
| Tangible assets | 124,639 | 109,400 | |||
| Investments | 12 | 1,172,240 | 1,426,687 | ||
| 1,296,879 | 1,536,087 | ||||
| CURRENT ASSETS | |||||
| Debtors | 13 | 31,413 | 44,316 | ||
| Cash at bank and in hand | 76,412 | 30,961 | |||
| 107,825 | 75,277 | ||||
| CREDITORS: amount falling due within one | 14 | ||||
| year | (129,459) | (77,050) | |||
| NET CURRENT ASSETS | (21,634) | (1,773) | |||
| NET ASSETS | 1,275,245 | 1,534,314 | |||
| CHARITY FUNDS | 15 | ||||
| Endowment funds |
261,439 | 335,284 | |||
| Restricted funds | 469,869 | 588,287 | |||
| Unrestricted funds |
543,937 | 610,743 | |||
| 1,275,245 | 1,534,314 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | E | E | ||||
| FIXEDASSETS | ||||||
| Investments | 12 | 1,172,240 | 1,426,687 | |||
| 1,172,240 | 1,426,687 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 13 | 114,743 | 87,179 | |||
| Cash at bank | and in hand | 57,957 | 28,473 | |||
| 172,700 | 115,652 | |||||
| CREDITORS: | amount falling due within one | 14 | ||||
| year | (116,082) | (67,141) | ||||
| NET CURRENT ASSETS | 56,618 | 48,511 | ||||
| NET ASSETS | 1,228,858 | L475,198 | ||||
| CHARITY FUNDS | 15 | |||||
| Endowment funds |
261,439 | 335,284 | ||||
| Restricted funds | 469,869 | 588,287 | ||||
| Unrestricted | funds | 497,550 | 551,627 | |||
| 1,228,858 | 1,475,198 |
| Income from donation | s and lega |
cies | ||||
|---|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | 2022 | |||
| funds | funds | funds | Total | 2021 | ||
| f | f | f | f | f | ||
| General donation | 187,772 | 187,772 | 20,275 | |||
| Trust and foundations | grants | 225,380 | (5,500) | 219,880 | 34,350 | |
| Corporate donations | 73,603 | 34,108 | 107,711 | 43,260 | ||
| Department ofTransport |
12,500 | 12,500 | ||||
| Corporate subscriptions | 46,700 | 46,700 | 16,020 | |||
| 311,483 | 263,080 | 574,563 | 113,905 | |||
| 2021analysis | 42,300 | 71,605 | 113,905 |
| Investment income |
|||||
|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | 2022 | ||
| funds | funds | funds | Total | 2021 | |
| f | f | f | f | ||
| Listed investments | 5,612 | 16,593 | 22,205 | 38,300 | |
| Bank interest | 247 | 247 | 6 | ||
| 5,612 | 16,840 | 22,452 | 38,306 | ||
| 2021analysis | 7,223 | 31,083 | 38,306 | ||
| Expenditure on raising funds |
|||||
| Endowment | Restricted | Unrestricted | 2022 | ||
| funds | funds | funds | Total | 2021 | |
| f | f | f | f | ||
| Staffcosts | 93,362 | 93,362 | 82,350 | ||
| Events costs | 46,309 | 46,309 | 20,236 | ||
| Marketing and communications |
10,990 | 10,990 | 7,678 | ||
| Support costs | 67,062 | 67,062 | 43,733 | ||
| 217,723 | 217,723 | 153,997 | |||
| 2021analysis | 153,997 | 153,997 | |||
| Expenditure on charitable activities |
|||||
| Endowment | Restricted | Unrestricte | |||
| 6.1Analysis by funds | funds | funds | d funds 2022 Total |
2021 | |
| f | f | f | |||
| Aviation experiences (525) | 45,749 | 14,692 | 60,441 | 126,546 | |
| Flying scholarships/bursary | 3,645 | 141,580 | 163,156 | 308,381 | 166,508 |
| Gliding Solo | 16,136 | 22,702 | 38,838 | ||
| Inspired Engineering |
15,738 | 22,142 | 37,880 | ||
| Veteran Programme | 7,478 | 5,481 | 12,959 | ||
| Innovators Challenge |
8,237 | 9,103 | 17,340 | ||
| Other activities | 8,075 | 8,075 | |||
| 3,645 | 234,918 | 245,352 | 483,915 | 293,054 | |
| 2021analysis | 3,425 | 98,226 | 191,403 | 293,054 |
| Direct | Direct | Support | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6.2Analysis by activities |
Staff costs | activities | costs | 2022Total | 2021 | ||||||
| f | f | f | f | f | |||||||
| Aviation experiences | (525) | 26,954 | 25,111 | 8,376 | 60,441 | 126,546 | |||||
| Flying scholarships/bursary | 137,524 | 128,122 | 42,736 | 308,381 | 166,508 | ||||||
| Gliding Solo | 17,320 | 16,136 | 5,382 | 38,838 | |||||||
| Inspired Engineering |
16,893 | 15,738 | 5,250 | 37,880 | |||||||
| Veteran Programme | 5,779 | 5,384 | 1,796 | 12,959 | |||||||
| Innovators Challenge |
7,733 | 7,204 | 2,403 | 17,340 | |||||||
| Other activities | 3,601 | 3,355 | 1,119 | 8,075 | |||||||
| 215,803 | 201,050 | 67,062 | 483,915 | 293,054 | |||||||
| 2021analysis | 125,975 | 123,346 | 43,733 | 293,054 | |||||||
| Analysis ofsupport costs | |||||||||||
| Aviation | Flying | Gliding | Inspired | Veteran | Innovator | Other | Fundrai | 2022 | |||
| experience | scholarship | Solo | Eng. | Prog. | Challenge | activities | sing | Total | 2021 | ||
| Rent and rates | 831 | 4,242 | 534 | 521 | 178 | 239 | 111 | 6,657 | 13,313 | 15,034 | |
| Insurance | 540 | 2,755 | 347 | 338 | 116 | 155 | 72 | 4,323 | 8,646 | 8,078 | |
| Newsletter printing |
30 | 47 | 94 | 470 | |||||||
| Postage and stationary | 21 | 106 | 13 | 13 | 3 | 167 | 333 | 660 | |||
| ITmaintenance, | |||||||||||
| website | 951 | 4,853 | 611 | 596 | 204 | 273 | 127 | 7,615 | 15,230 | 5,270 | |
| Recruitment | 12 | 63 | 99 | 198 | 9,100 | ||||||
| Youth publloty | 1,433 | ||||||||||
| Bank charges | 89 | 452 | 57 | 56 | 19 | 25 | 12 | 710 | 1,420 | 1,290 | |
| Sundryexpenses | 158 | 808 | 102 | 99 | 34 | 45 | 21 | 1,269 | 2,537 | 548 | |
| Governance | |||||||||||
| compliance | 300 | 1,529 | 193 | 188 | 64 | 86 | 40 | 2,400 | 4,800 | 7,138 | |
| Professional fees | 4,093 | 20,881 | 2,630 | 2,565 | 877 | 1,174 | 547 | 32,767 | 65,533 | 21,434 | |
| Business development | 6,752 | ||||||||||
| Other cost | 1,375 | 7,016 | 884 | 862 | 295 | 394 | 184 | 11,010 | 22,019 | 10,258 | |
| 8,376 | 42,736 | 5,382 | 5,250 | 1,796 | 2,403 | 1,119 | 67,062 | 134,124 | 87,465 | ||
| 2021analysis | 26,240 | 13,120 | 4,372 | 43,733 | 87,465 |
| 8 | Independent | examiner's | remune | rations | ||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| f | f | |||||||
| Independent | examination | fee | 4,800 | 4,080 | ||||
| 9 | Staffcosts | |||||||
| Group | Group | Charity | Charity | |||||
| 2022 | 2021 | 2022 | 2021 | |||||
| f | f | f | ||||||
| Gross salaries | 254,854 | 160,624 | 254,854 | 160,624 | ||||
| Nl contribution | 27,660 | 15,526 | 27,660 | 15,526 | ||||
| Employer pension | 3,526 | 2,675 | 3,526 | 2,675 | ||||
| Redundancy | 23,125 | 29,500 | 23,125 | 29,500 | ||||
| 309,165 | 208,325 | 309,165 | 208,325 | |||||
| 2022 | 2021 | 2022 | 2021 | |||||
| No. | No. | No. | No. | |||||
| The average | full time equivalent | number ofemployees | 4 | 3 | 4 | 3 |
| wn belo | w | ||
|---|---|---|---|
| Group | Group | Charity | Charity |
| 2022 | 2021 | 2022 | 2021 |
| No. | No. | No. | No. |
| 11 | Tangible Fixed Assets | Group | Charity | |||||
|---|---|---|---|---|---|---|---|---|
| Office | Office | Light | ||||||
| equipment | Light aircraft | Group | equipment | aircraft | Charity | |||
| &website | Slingshot | Total | &website | Slingshot | Total | |||
| f | f | f | f | f | f | |||
| Cost | ||||||||
| At 1January 2022 | 50,608 | 104,651 | 155,259 | 9,904 | 9,904 | |||
| Additions | 1,015 | 14,393 | 15,408 | |||||
| Disposal | (2,704) | (2,704) | (2,704) | (2,704) | ||||
| At31December 2022 | 48,919 | 119,044 | 167,963 | 7,200 | 7,200 | |||
| Depreciation | ||||||||
| At 1January 2022 | 45,859 | 45,859 | 9,904 | 9,904 | ||||
| Provided during year |
169 | 169 | ||||||
| Disposal | (2,704) | (2,704) | (2,704) | (2,704) | ||||
| At31Dec2022 | 43,324 | 43,324 | 7,200 | 7,200 | ||||
| Net book value | ||||||||
| At31Dec2022 | 5,595 | 119,044 | 124,639 | |||||
| At31Dec2021 | 4,749 | 104,651 | 109,400 | |||||
| 12 | Fixed assets investments | |||||||
| Listed | Listed | |||||||
| investments - |
investments | |||||||
| Group | -Charity | |||||||
| f | f | |||||||
| Cost orvaluation | ||||||||
| At 1 January 2022 | 1,426,687 | 1,426,687 | ||||||
| Revaluations losses |
(154,447) | (154,447) | ||||||
| Fund drawn | (100,000) | (100,000) | ||||||
| At 31 December 2022 | 1,172,240 | 1,172,240 | ||||||
| Net book value | ||||||||
| As 31 December 2022 | 1,172,240 | 1,172,240 | ||||||
| At 31 December 2021 | 1,426,687 | 1,426,687 |
| Debtors | ||||||
|---|---|---|---|---|---|---|
| Group | Group | Charity | Charity | |||
| 2022 | 2021 | 2022 | 2021 | |||
| f | f | |||||
| Trade debtors | 15,000 | 34,289 | 2,048 | |||
| Other debtors | 384 | 5,181 | 384 | |||
| Prepayments | and accrued Income | 16,029 | 4,846 | 16,029 | 4,846 | |
| Amount owed | to group undertakings | 98,331 | 80,284 | |||
| 31,413 | 44,316 | 114,744 | 87,178 | |||
| Creditors: Amounts | falling due within One year | |||||
| Group | Group | Charity | Charity | |||
| 2022 | 2021 | 2022 | 2021 | |||
| f | f | f | f | |||
| Amount owed | to group undertakings | |||||
| Taxation and socialsecurity | 10,612 | 6,788 | 8,291 | 6,023 | ||
| Other creditors | 944 | 1,715 | ||||
| Accrual and deferred | income | 55,996 | 38,076 | 55,996 | 38,076 | |
| Trade creditors | 61,907 | 30,471 | 51,795 | 23,042 | ||
| 129,459 | 77,050 | 116,082 | 67,141 |
| Balaance | Transfer | Balance at | |||||
|---|---|---|---|---|---|---|---|
| at Jan 1' | Investment | between | Dec31 | ||||
| 2022 | Income | Expenditure | losses | fund | 2022 | ||
| UNRESTRICTED | |||||||
| GENERAL | |||||||
| 01aUR General Trust | 343,252 | 213,352 | (371,923) | (84,247) | 200,595 | 301,030 | |
| 01cUR General | |||||||
| Enterprise | 59,114 | 66,568 | (79,295) | 46,387 | |||
| General fund | 402,366 | 279,920 | (451,218) | (84,247) | 200,595 | 347,417 | |
| 02DESIGNATED | |||||||
| 02a Anonymous | 96,085 | 96,085 | |||||
| 02b Battle ofBritain | 45,722 | (9,195) | 36,527 | ||||
| Red Arrow | 1,462 | (1,462) | |||||
| 02d MJ Marshal YIA | 13,583 | 13,583 | |||||
| 02e Lucas Aerospace | 51,525 | (1,200) | 50,325 | ||||
| Sub total Designated | 208,377 | (11,857) | 196,520 | ||||
| Total Unrestrcited | funds | 610,743 | 279,920 | (463,075) | (84,247) | 200,595 | 543,937 |
| 03ENDOWMENT | |||||||
| 03a CA Barnes | 77,107 | 1,291 | (3,645) | (16,144) | (1,291) | 57,318 | |
| 03bSomers Scholarship | 258,177 | 4,321 | (54,056) | (4,321) | 204,121 | ||
| Total 03ENDOWMENT | 335,284 | 5,612 | (3,645) | (70,200) | (5,612) | 261,439 | |
| 04RESTRICTED | |||||||
| SOARING TOSUCCESS | |||||||
| DFT21525 | 22,852 | (8,100) | (14,535) | 217 | |||
| DFT22525 | 12,500 | (1,917) | 10,583 | ||||
| Air Crew Trust | 15,000 | 15,000 | |||||
| Aldenham Aviation |
20,080 | (20,551) | 471 | ||||
| Boeing 22S2S | 10,715 | (5,551) | (78) | 5,086 | |||
| BA23525 | |||||||
| Boeing 23S2S | 29,588 | (3,195) | 26,393 | ||||
| 37,852 | 64,783 | (45,749) | 393 | 57,279 | |||
| SCHOLARSHIPS | |||||||
| Stelios Foundation | 20,000 | 20,000 | |||||
| MacRobert Trust | 101,196 | (15,383) | 85,813 |
| Prince Phillip Scholarship | 228,903 | (26,642) | (202,261) | |||
|---|---|---|---|---|---|---|
| SirA Marshal Scholarship | 119,091 | (1,692) | 117,399 | |||
| RKronfield Fund |
46,789 | (4,800) | 41,989 | |||
| ALDFS Fund | 17,879 | 17,879 | ||||
| Scaraman Fund |
10,014 | (9,000) | 1,014 | |||
| EDStrongman | 1,200 | (1,605) | 405 | |||
| Swire Trust | 3,677 | 18,000 | (28,590) | (6,913) | ||
| Morehouse | 3,500 | (4,528) | 1028 | |||
| Cobham New | 144,064 | (37,626) | 106,438 | |||
| 617Squadron | 7,200 | (345) | 6,855 | |||
| Misc | 1,795 | 4,700 | (11,369) | 5,374 | 500 | |
| 529,344 | 198,664 | (141,580) | (195,454) | 390,974 | ||
| GLIDING SOLO | ||||||
| Cobham New | ||||||
| DFT21GS | 8,100 | (8,100) | ||||
| Boeing 22GS | 8,036 | (8,036) | ||||
| Airline Prep | ||||||
| Boeing 23GS | 8,000 | 8,000 | ||||
| 24,136 | (16,136) | 8,000 | ||||
| INSPIRED ENGINEERING | ||||||
| Dick Lovetts | 21,091 | 3,000 | (15,738) | 8,353 | ||
| VETERAN PROGRAMME | ||||||
| Boeing 22VP | 7,400 | (7,478) | 78 | |||
| Boeing 23VP | 8,000 | 8,000 | ||||
| 15,400 | (7,478) | 78 | 8,000 | |||
| SLINGSHOT | ||||||
| INNOVATOR | ||||||
| CHALLENGE | 5,500 | (8,237) | (2,737) | |||
| Total 04RESTRICTED | 588,287 | 311,483 | (234,918) | (194,983) | 469,869 | |
| TOTALFUNDS | 1,534,314 | 597,015 | (701,638) | (154,447) | 1,275,245 |
| Balance at | Investment | Transfer | Balance at | |||||
|---|---|---|---|---|---|---|---|---|
| Prior year 2021 | analysis | 01Jan 21 | Income | Expenditure | gain | offunds | 31Dec21 | |
| f | f | f | f | f | f | |||
| ENDOWMENT FUNDS |
||||||||
| CA Barnes | 71,404 | 1,717 | (3,425) | 7,411 | 77,107 | |||
| Somers Engineering | 228,912 | 5,506 | 23,759 | 258,177 | ||||
| Total Endowment | funds | 300,316 | 7,223 | (3,425) | 31,170 | 335,284 | ||
| RESTRICTED FUND | ||||||||
| McRobert Trust | 111,498 | (10,302) | 101,196 | |||||
| Prince Philip Scholarship | 242,188 | (13,285) | 228,903 | |||||
| Sir A Marshall Scholarship |
125,251 | (6,160) | 119,091 | |||||
| R Kronfield Fund |
49,674 | (2,885) | 46,789 | |||||
| ALDS Fund | 17,879 | 17,879 | ||||||
| Scaraman Fund |
12,335 | (2,320) | 10,015 | |||||
| Adrian Swire Trust | 7,114 | 15,000 | (15,528) | (2,909) | 3,677 | |||
| Dept ofTransport | 115,183 | 850 | (21,786) | (71,395) | 22,852 | |||
| Swire Charitable | Trust | 10,514 | (13,423) | 2,909 | ||||
| Air Crew Trust | 15,000 | 15,000 | ||||||
| Dick Lovett | 24,000 | (2,909) | 21,091 | |||||
| Other small funds | 1,770 | 2,450 | (9,628) | 7,202 | 1,794 | |||
| Total Restricted funds | 708,406 | 42,300 | (98,226) | (64,193) | 588,287 | |||
| UNRESTRICTED | FUND | |||||||
| General funds | 445,431 | 102,688 | (344,047) | 134,100 | 64,193 | 402,365 | ||
| Designated funds |
||||||||
| Anonymous | 96,085 | 96,085 | ||||||
| Battle for Britain | 45,722 | 45,722 | ||||||
| Red Arrows | 2,816 | (1,354) | 1,462 | |||||
| MJ Marshall Youth |
Aviation | 13,583 | 13,583 | |||||
| Lucas Aerospace | 51,525 | 51,525 | ||||||
| 209,731 | (1,354) | 208,377 | ||||||
| Total Unrestricted | funds | 655,162 | 102,688 | (345,401) | 134,100 | 64,193 | 610,742 | |
| Total offunds | 1,663,884 | 152,211 | (447,052) | 165,270 | 1,534,314 |
| Analysis ofnet assets between fu | nds | |||
|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | ||
| 2022 analysis | funds | funds | funds | 2022Total |
| Fixed assets investments | 261,439 | 469,869 | 565,571 | 1,296,879 |
| Current assets | 107,825 | 107,825 | ||
| Creditor due within one year | (129,459) | (129,459) | ||
| 261,439 | 469,869 | 543,937 | 1,275,245 | |
| Endowment | Restricted | Unrestricted | ||
| Prior year analysis | funds | funds | funds | 2021Total |
| Fixed assets investments | 335,284 | 588,287 | 612,516 | 1,536,087 |
| Current assets | 75,277 | 75,277 | ||
| Creditor due within one year | (77,050) | (77,050) | ||
| 335,284 | 588,287 | 610,743 | 1,534,314 |