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||||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<br>Harper|KBEMA CMGR CCMI MIOD RAF||||
|Trustees:|||The Board ofTrustees,|who|are also the|directors for the purpose of||
||||company<br>law, and who|served during the year were:||||
||||Mr J BSteel KC FRAeS|(Chairman)||||
||||Mr G R Hodge (Hon. Treasurer)|||||
||||Mr N CWhitney<br>FRAeS MBE|||||
||||Mr JGreaves FRAeS|||||
||||Ms CMacAleese FRAeS|||||
||||Ms2 M Layden FRAeS|||||
||||Air Cdre Anthony<br>Keeling 0 BE MA CEng FRAeS|||||
||||Ms ATBernie (Appointee 08 February|||2022)||
||||Mr R FSBaker (Appointed||23June 2022)|||
||||Mr A Perkins<br>(Reappointed||22September||2022)|
|Company|Secretary||Mr<br>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<br>and Wales 1129969and Scotland SC052408|||||
|Company|number:||06794828|||||
|Principal|Office:||3Whitehall<br>Court|||||
||||London|||||
||||SW1A2EL|||||
|Bankers:|||NatWest Bank|||||
||||Western<br>Avenue|||||
||||Chatham,<br>Kent|||||
||||ME44RT|||||
|Accountants:|||Charity Accounting Services||Limited|||
||||Spaces|||||
||||6Sutton Plaza, Sutton|||||
||||London|||||
||||5M14FS|||||
|Independent||examiner:|Janice Matthew<br>FCA|||||
||||Menzies LLP|||||
||||Chartered Accountants|||||
||||Centrum<br>House|||||
||||36Station Road|||||
||||Egham, Surrey|||||
||||TW20 9LF|||||





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||||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<br>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<br>funds|15||(5,612)|(194,983)|200,595|||
|NET MOVEMENT<br>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|





## 

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||||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<br>funds|||261,439||335,284|
|Restricted funds|||469,869||588,287|
|Unrestricted<br>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<br>funds||||261,439||335,284|
|Restricted funds||||469,869||588,287|
|Unrestricted|funds|||497,550||551,627|
|||||1,228,858||1,475,198|





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|Income from donation|s<br>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<br>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<br>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<br>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<br>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<br>on charitable activities||||||
||Endowment|Restricted|Unrestricte|||
|6.1Analysis by funds|funds|funds|d funds<br>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<br>Engineering||15,738|22,142|37,880||
|Veteran Programme||7,478|5,481|12,959||
|Innovators<br>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||



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|||||Direct|Direct|Support||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|6.2Analysis<br>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<br>Engineering|||16,893|15,738||5,250|37,880|||||
|Veteran Programme|||5,779||5,384|1,796|12,959|||||
|Innovators<br>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<br>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||



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|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.|



## 



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|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<br>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<br>-||investments||
|||||||Group||-Charity|
|||||||f||f|
||Cost orvaluation||||||||
||At 1 January 2022|||||1,426,687||1,426,687|
||Revaluations<br>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<br>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<br>Fund|46,789||(4,800)|||41,989|
|ALDFS Fund|17,879|||||17,879|
|Scaraman<br>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|





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||||Balance at|||Investment|Transfer|Balance at|
|---|---|---|---|---|---|---|---|---|
|Prior year 2021||analysis|01Jan 21|Income|Expenditure|gain|offunds|31Dec21|
||||f|f|f|f|f|f|
|ENDOWMENT<br>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<br>Scholarship|||125,251||(6,160)|||119,091|
|R Kronfield<br>Fund|||49,674||(2,885)|||46,789|
|ALDS Fund|||17,879|||||17,879|
|Scaraman<br>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<br>funds|||||||||
|Anonymous|||96,085|||||96,085|
|Battle for Britain|||45,722|||||45,722|
|Red Arrows|||2,816||(1,354)|||1,462|
|MJ Marshall<br>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|



##