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2023-12-31-accounts

Company number: 06794828 Charity number in England and Wales (No.1129969) and in Scotland (SC052408)

AIR LEAGUE TRUST

(A company limited by guarantee)

Trustees’ Report and Financial Statements for the year ended 31 December 2023

Group Consolidated Accounts

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Air League Trust

CONTENTS

CONTENTS

Page
Legal and administrative details 2
Report of the Trustees 3-26
Independent Examiner’s Report 27
Statement of Financial Activities 28
Balance Sheet 29-30
Notes to the Financial Statements 31-43

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Air League Trust

LEGAL AND ADMINISTRATIVE DETAILS

Patron: HRH The Prince Philip Duke of Edinburgh KG KT (deceased 09 April 2021)

President: Sir Christopher Harper KBE MA CMGR CCMI MIOD RAF 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 Steel KC FRAeS (Chairman – stepped down at the end of term 30 April 2024) Ms C MacAleese FRAeS (Chair - Appointed 1 May 2024) Mr G R Hodge (Hon. Treasurer) Mr N C Whitney FRAeS MBE Mr J Greaves FRAeS Ms Z M Layden FRAeS (resigned 27 June 2024) Air Cdre Anthony Keeling OBE MA CEng FRAeS Ms A T Bernie Mr R F S Baker Mr A Perkins Dame D Childs (Appointed 27 June 2023) Company Secretary Mr G Hodge (Appointed 19 April 2024) Mr I C Morrison CBE FRAeS (Resigned 18 April 2024) Management: Mr I C Morrison CBE FRAeS (Chief Executive Officer – resigned 18 April 2024) Charity number: In England and Wales 1129969 and Scotland SC052408 Company number: 06794828 Principal Office: 3 Whitehall Court London SW1A 2EL Bankers: NatWest Bank Western Avenue Chatham, Kent ME4 4RT Accountants: Charity Accounting Services Limited Spaces, 6 Sutton Plaza Sutton, London SM1 4FS Independent Janice Matthew FCA examiner Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP

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Air League Trust TRUSTEES REPORT for the year ended 31 December 2023

The Trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 airmindedness 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 the 18th of 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 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

The charity is constituted as a limited company, limited by guarantee, as defined by the Companies 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 recruited with regard to their respective areas of knowledge, skills and experience.

Induction and training of new trustees

There is a pre-appointment briefing and trustees are inducted during their tenure. Ongoing training is made available to Trustees (through the Charity Commission et al ) as required.

Register of Interests

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

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Air League Trust

TRUSTEES REPORT for the year ended 31 December 2023

Organisational Structure

The Air League is governed by a Board of Trustees chaired by Ms C MacAleese FRAeS (Mr J Steel KC until 30 April 2024). The Charities Act 2011 requires Trustees to exercise proper stewardship and governance over the Air League.

The Chief Executive Officer (CEO), Mr Ian Morrison (CBE), 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 the Air League outreach programmes.

The Board of Trustees have extensive experience across aviation and aerospace, as well as representatives from the air cadets, industry, and associated sectors, with additional support from the Air League Council (an advisory body) under the Chairmanship of the The President Sir Christopher Harper KBE MA FRAeS CMGR CCMI MIOD.

The Trustees met on 7 occasions throughout the year to approve areas of activity for the charity in line with its objects, to supervise the Financial management of the Charity budget and accounts, to oversee the management of the award of scholarships and the conduct of the newly configured Soaring to Success programme, and manage policies and performance.

Charitable Fundraising

The Air League Trust is a registered member with the Fundraising Regulator. We work to the Fundraising Code and Promise set out by the Regulator and are signed up to the Code of Practice. During 2022 The Air League employed the services of an in-house fundraiser to raise funds to support our core work, as well as major programmes and projects.

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.

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 held 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 had 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, were identified.

The Trustees are satisfied that adequate systems are in place to mitigate exposure to major risks.

Personal Data

The Air League complies with GDPR and the Fundraising Regulators guidance on data protection, privacy and storage of personal data. The Air League has not identified any personal data related incidents during 2023.

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Air League Trust

TRUSTEES REPORT for the year ended 31 December 2023

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, Aerospace and Space’ and its mission is:

‘Inspiring young people by awarding scholarships and work opportunities through aviation, aerospace and space’.

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. Through this work, we give young people experience of the world and work, whether they wish to pursue a career within the aviation and aerospace industries or other sectors; the broad themes of the latter included:

Each year many people from disadvantaged socio-economic backgrounds benefit from Air League support to help them start a career and build self-esteem and well-being, inspire them, and make them feel valued, in order to realise their potential.

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 with the aviation, aerospace and space sector throughout their careers.

PUBLIC BENEFIT

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.

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.

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Air League Trust TRUSTEES REPORT for the year ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE

Soaring to Success

Soaring to Success[ ® ] is a careers enrichment programme for 13 to 17-year-olds in state-maintained schools. The programme bridges the gap between education and industry, inspiring, enabling, and supporting the next generation to consider a career within aviation and aerospace. Through high-quality learning experiences, inspirational activities, and meaningful encounters with industry experts we further aim to increase ambitions and social mobility for young people.

Soaring to Success 2022/23 Impact Data

The 2022-23 programme was delivered in 3 Stages:

Stage 1: Introduction to Aviation and Aerospace Careers Enrichment Conferences.

A national live-broadcast career conference took place in November 2022 over four days. The event showcased career opportunities across the broad scope of aviation and aerospace. Speaker sessions also promoted positive messages and role models for equality, diversity, inclusion, and sustainability. The conferences were hosted through Speakers for Schools.

Participating students were able to engage with more than 20 speakers from 15 leading organisations. The conferences streamed live into classrooms to 2,638 students across 51 schools .

Participating organisations included:

Recordings were produced for each speaker session and subsequently distributed to participating schools and late registrations reaching a further 4,668 students (minimum as reported).

- Stage 2: e Learning Courses.

A series of e-learning careers enrichment courses were developed to take the students through a scripted narrative which provided:

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Air League Trust TRUSTEES REPORT for the year ended 31 December 2023

Access to eLearning courses was facilitated in two cohorts . A total of 389 out of 849 registered students engaged with the content and 86 certificates have been awarded for 100% completion.

Stage 3: Air Experience Days .

11 successful Air Experience Days were completed between April and July 2023 for 145 students from 10 schools

• Outwood Academy Carlton, Barnsley

The Gliding Centre, Husbands Bosworth 19th July 2023

Photographs showing engagement at these events is overleaf.

The events were supported by volunteers and ambassadors from Aviation Research Association, BAE Systems, Boeing, British Airways, Druck, and the STEM ambassador Network representing a range of roles, including:

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2022-23 Air Experience Days

London Elstree Aerodrome 25th-26th April 2023

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Yorkshire Gliding Club, Sutton Bank 13th-15th June 2023

London Elstree Aerodrome 27th-29th June 2023

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Air League Trust TRUSTEES REPORT for the year ended 31 December 2023

Equal opportunities monitoring

Categoric monitoring data was collected for attendees of the Air Experience Days. (Sample size 145 participants)

Comparison to Census and Government Data

The government defines pupils “as disadvantaged if they are known to have been eligible for free school meals at any point in the past six years (from year 6 to year 11), if they are recorded as having been looked after for at least one day or if they are recorded as having been adopted from care.” This is consistent with the use Pupil Premium as a proxy for circumstances of disadvantage and is used as a measure for mapping attainment in schools (i.e. performance of PP vs Non-PP students).

On average 24% of children in secondary schools in the UK are eligible for Pupil Premium status.

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TRUSTEES REPORT for the year ended 31 December 2023

Comparison to Census Data

2021 Census
England &
Wales
2021
Census
England
Soaring to
Success
22-23		 2021 Census
England &
Wales
2021
Census
England
Soaring to
Success
22-23		 2021 Census
England &
Wales
2021
Census
England
Soaring to
Success
22-23
Asian or Asian British
9.3%
9.6%
10%
Indian 3.1%
6%
2.7%
1%
1.1%
0%
0.7%
2%
1.6%
1%
Pakistani
Bangladeshi
Chinese
Anyother Asian background
Black, Black British, Caribbean or African
4.0%
4.2%
11%
Caribbean 1.0%
2%
2.5%
7%
0.5%
1%
African
Any other Black, Black British, or
Caribbean background
Mixed or multiple ethnicgroups
2.9%
3.0%
5%
White and Black Caribbean 0.9%
1%
0.4%
1%
0.8%
1%
0.8%
2%
White and Black African
White and Asian
Any other Mixed or multiple ethnic
background
White 81.7%
81.0%
73%
English, Welsh, Scottish, Northern
Irish or British		 74.4%
62%
0.9%
1%
0.1%
0%
0.2%
0%
6.2%
10%
Irish
Gypsyor Irish Traveller
Roma
Anyother White background
Other ethnicgroup
2.2%
2.2%
1%
Arab 0.6%
0%
1.6%
1%
Anyother ethnicgroup

Ethnic group, England and Wales - Office for National Statistics (ons.gov.uk)

Programme participant demographics are in line with census data.

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Air League Trust

TRUSTEES REPORT for the year ended 31 December 2023

Participant experience and outcomes

In addition, the impact on participants’ and their sense of achievement and empowerment was palpable at the Air Experience Days and whilst only a small snapshot, the comments below in the students’ own hands are representative of the wider experiences of the full cohort.

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Feedback on programme impact

Feedback on programme impact
Survey Question Response Summary
Would you take part in the activity again? 100% of respondents said “Yes”
The activity was well organised. Average of responses: 4.8 out of 5
The activity engaged the participants. Average of responses: 4.6 out of 5
To what extent do you think the students' participation
in the activity has opened their eyes to the
opportunities there are for careers in aviation?		 Average of responses: 4.8 out of 5
To what extent do you think the activity has succeeded
in challenging industry stereotypes and addressing the
barriers to entry to a career in aviation?		 Average of responses: 4.5 out of 5
Which of the benchmarks have/will you use this activity
to evidence?		 92% of respondents used the
programme to evidence two or more
career programme benchmarks

Have you seen any changes in your students following the activity?

“Yes, we have observed notable changes in our students following their participation in the activity. Firstly, there has been a significant increase in their enthusiasm and motivation towards aviation and aerospace. Many of them have developed a deeper interest in these fields and have expressed a desire to pursue careers in the industry.

Furthermore, we have noticed improvements in their understanding of the concepts related to

aviation and aerospace. They have demonstrated enhanced knowledge and a greater ability to apply critical thinking skills when discussing aviation-related topics.

Additionally, the activity has had a positive impact on their self-confidence and aspirations.“

“Positive discussion of careers”

“Greater interest and understanding of the aviation industry. “

“The year 10 students that I took to Air League seem to be really motivated and keen to pursue a

career in aviation, engineering or cabin crew.”

“Greater confidence”

“Students were buzzing about the air day, which was contagious to their friends who didn't get to go.”

“They are more aspirational and enthusiastic about their learning. “

“Yes, some of them are more focused and have an excitement and a determination to learn about flying.”

“More confident and engaging”

Have there been any direct outcomes from the activity, e.g. college/scholarship/apprenticeship applications?

“We have students who have applied for aeronautical-related apprenticeships. The students are not

old enough to make applications yet but they did mention that they would like to find a scholarship for a private pilot’s license.”

“A couple had applied for cabin crew with one being successful as a career”

“One of the pupils succeeded in gaining a place at College. Another has been applying for

scholarships and apprenticeship opportunities to continue with his interest. “

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“Too early to determine but more students considering an apprenticeship”

What did you like about the event, what were the strengths of the programme? "Range of speakers. Young people could choose specific areas of interest. Great to have significant industry players involved. "

“Students enjoyed seeing an insight into the industry - different career areas “

“First-hand experiences, the opportunities available and how to reach goals if interested in aviation “

“Some great speakers, very inspirational”

“The speakers were very engaging and offered wide insight into the aviation and aerospace sectors. “

“Great key names and organisations. “

“Very engaging from real life experiences “

“Superb, punchy sessions with excellent contributors. Also that we were given access to the other three days’ worth of content for me to push out to the students who attended on the Thursday

morning. Thank you very much for organising.”

“The variety of information about different parts of the aviation sector”

"Engaging talks, good information on jobs/roles”

Soaring to Success 2023/24

Stage 1: Aviation and Aerospace Careers Enrichment Conference.

The national live-broadcast career conference took place in November 2023 and built significantly on the previous year by extending to 20 sessions across five days .

The conference sessions were streamed live to approximately 8,177 young people across 130 schools and Further Education establishments ; this is an increase of over 5,500 more young people and 70 more schools reached than the 2022 career conference.

Participating organisations included:

The access to recordings on demand is already expected to exceed those of the previous year.

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Furthering the model established in November 2022, the event showcased career opportunities across the broad scope of aviation and aerospace. Speaker sessions continued to promote positive messages and role models for equality, diversity, inclusion, and sustainability across a broader range of employers and job roles. The conferences were hosted on Zoom by Jack Ryan Media.

Heatmap: November 2023 Aviation and Aerospace Careers Enrichment Conference

Into 2024:

The Soaring to Success programme will continue into 2024 with support from Boeing, British Airways Community Fund, Millenium Point Trust, Reach for the Sky Challenge Fund, and William Gibbs Trust.

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eLearning and Air Experience activities are scheduled to take place throughout 2024 and will be reported in full in the 2024 Annual Report.

Project Slingshot – (National Youth Plane Building Programme)

Project Slingshot uses the catalyst of building an aircraft (of the type pictured above) to capture the imagination of young people and to explore aircraft manufacture. The young people involved in the programme experienced hands-on time in engineering disciplines and techniques (including tool use and the strict adherence to plans and procedures) required to build an aircraft, and, importantly, to work as a cohesive team, producing very high professional standards of work.

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The aircraft is being built in 2 locations: (RAF Cosford – shown above) – where students from Aston University Engineering Academy (AUEA) experience aircraft building techniques (supervised by experienced Engineers – with oversight from Light Aircraft Association (LAA) Inspectors) and learn the intricacies of Stores management and Tool controls (pictured below).

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At the second location, the Manufacturing Technology Centre (MTC), Coventry (workshop shown below) – the 45 participating apprentices, have been charged with constructing the aircraft wings (and enclosed fuel tanks) with advice and oversight from an Air League SME and LAA inspectors.

A number of MTC learners have expressed an interest in a career in aerospace and now have the skills from their apprenticeship and what they’ve learned through Project SLING SHOT, to move into the aerospace sector.

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The 2-location Project Slingshot Aircraft construction will combine to become 1 site when the aircraft wings (once completed) will be transported to RAF Cosford for final assembly with the remaining aircraft fuselage by the Aston University Engineering Academy (AUEA) students.

Scholarships

Each year the Air League offers scholarships to support young people whose desire is to enter the aviation and aerospace industries. In 2023, £160K was spent on funding our Flying, Gliding, Drone and Engineering Scholarships.

Flying Scholarships

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Gliding to Solo Scholarships

This scholarship provides an introductory gliding to solo course and ground school theory to individuals aged 16 and above. It aims to create a foundation for a young person’s career pathway into aviation, aerospace, or space. The course is held residentially over a two-week period at our training partner, London Gliding Club. In 2023, we awarded 9 Gliding to Solo Scholarships.

Gliding Bursaries

Our gliding bursaries provide additional support towards going solo, aerobatic or cross-country training or self-launching motor glider conversion, in the form of a £500 bursary. Our gliding bursaries are open to individuals aged 14 and above. Bursaries are flown at the scholar's own pace at their chosen gliding club. In 2023, we awarded 25 gliding bursaries.

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Drone Scholarships

Our drone scholarships provide individuals aged 18 and above with an opportunity to explore the career pathway options within the Remotely Piloted Aircraft System (RPAS) sector.

Engineering Scholarships

Our engineering scholarships provide individuals aged 18 and above with an opportunity to explore career pathway options within the aerospace engineering sector. Our engineering scholarships consist of a 2-week industry placement with one of our corporate partners, including full-board accommodation.

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Feedback

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Inspired Engineering Programme

The Air League Inspired Engineering Programme was launched in October 22, in partnership with the Aerospace Museum Bristol and the University of West England (UWE) School of Engineering , with the aim of breaking the stereotypical barriers and the view that careers in Aerospace and Engineering were out of reach for particular societal groups (and genders) in the Bristol area. Our

target age group for this collaboration has been Key Stage 2 Plus (ie 10 – 12 years of age children) drawn from State funded Primary education Schools, and from those deemed to be in high social premium areas (eg. a high percentage of free School meals).

The engineering theme ran through the overall event, with participants enrolling for a day of the twice weekly events, which involved:

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ENGAGEMENT AND COSTS

The take-up for the programme was excellent with some 1000 children enjoying the experience across 2022 and 2023. The Sponsorship of the Air League Inspired Engineering Programme was generously contributed by the Dick Lovett Aston Martin Group , and the level of funding (some £30,000) enabled the programme to run very successfully, with some excellent teaching outcomes for the participating schools. The costs associated with the undertaking were comparatively low: Coach transport to and from the various locations (approximately £350- £500 per Class (some 40-50 children) is the major cost and a nominal £10 per attendee at the Museum and UWE). Administration and coordination costs were absorbed by the Air League.

FEEDBACK AND MEDIA COVERAGE

The feedback from the Head Teachers and Staff of the participating Schools was very positive indeed. ITV News featured the Programme, and local press picked-up on the ‘inspirational’ story too. In addition, the University and the Air League have run independent but linked Social Media Campaigns too.

Communications

Events

The Air League Hosted the following events during 2023:

New Initiatives

Performance

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PLANS FOR THE YEAR AHEAD

In the year ahead, the Air League will continue its scholarship offering and where possible align it with the wider Soaring to Success Programme.

It is planned to continue to extend the scope and reach of Soaring to Success to engage a greater number of students.

Those who have attended regional Soaring to Success engagement events will continue to be mentored to gain access to further flying and engineering opportunities to change their lives through aviation.

The Engineering Scholarship Programme will be extended still further. And the Drone Scholarships continued – with a possibility of additional places sponsored by other users.

Project Slingshot will continue to engage young people in its build through 2024 and will be completed during 2025.

FINANCIAL REVIEW

The income during the year slightly decreased to £564,515 (2022: £597,015). The expenditure for the year also decreased to £605,661 (2022: £701,638). The investment gain during the year was £50,567 compared to loss £154,447 in 2022.

Reserves level and policy

The total funds of The Air League at 31 December 2023 were £1,284,666 (2022: £1,275,245) of which £260,593 (2022: £261,439) were held as permanent endowment and £477,330 as restricted funds (2022: 469,869). The balance represents unrestricted funds of £546,743 (2022: £543,937), of which £125,603 (2022: £124,639) were held in tangible fixed assets, leaving the balance of free reserves of the Trust of £421,140 (2022: £419,298).

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 on 31 December 2023 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 2.01% (2022: 1.91%). The portfolio has experienced a valuation 5.09% of gain (2022: loss 11.6%) over the last 12 months. The Trustees follow an ethical investment policy.

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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.

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

Claire MacAleese FRAeS, Chair

Date: 26 September 2024

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF AIR LEAGUE TRUST (‘the Company’)

for the year ended 31 December 2023

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

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').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 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

I have completed my examination. I confirm that no matters have come to my attention in connection 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.

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 ICAEW which is one of the listed bodies.

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.

Janice Matthews FCA Menzies LLP

Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP

Dated: 09 / 26 / 2024

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Air League Trust

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2023

Endowment Restricted Unrestricted 2023 Total 2022 Total
funds funds funds funds funds
Notes £ £ £ £ £
INCOME AND ENDOWMENTS
Donations and legacies 3 - 277,135 266,615 543,750 574,563
Investment 4 - - 20,765 20,765 22,452
Total incoming resources - 277,135 287,380 564,515 597,015
EXPENDITURE
Raising funds 5 - 13,592 174,170 187,762 217,723
Charitable activities 6 11,605 261,112 145,182 417,899 483,915
Total expenditure 11,605 274,704 319,352 605,661 701,638
Net gains/(Loss) on investment 10,759 - 39,808 50,567 (154,447)
NET INCOME /(EXPENDITURE) (846) 2,431 7,836 9,421 (259,070)
Transfer between funds 15 - 5,030 (5,030) - -
NET MOVEMENT IN FUNDS (846) 7,461 2,806 9,421 (259,070)
Total funds brought forward 261,439 469,869 543,937 1,275,245 1,534,315
FUNDS CARRIED FORWARD 260,593 477,330 546,743 1,284,666 1,275,245

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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Air League Trust

CONSOLIDATED BALANCE SHEET as at 31 December 2023

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS: amount falling due
within one year
14
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
15
Endowment funds
Restricted funds
Unrestricted funds		 2023
2022

£
£
£
£
125,603
124,639
1,032,807
1,172,240
1,158,410
1,296,879
58,766
31,413
117,962
76,412
176,728
107,825
(50,472)
(129,459)
126,256
(21,634)
1,284,666
1,275,245
260,593
261,439
477,330
469,869
546,743
543,937
1,284,666
1,275,245		 2023
2022

£
£
£
£
125,603
124,639
1,032,807
1,172,240
1,158,410
1,296,879
58,766
31,413
117,962
76,412
176,728
107,825
(50,472)
(129,459)
126,256
(21,634)
1,284,666
1,275,245
260,593
261,439
477,330
469,869
546,743
543,937
1,284,666
1,275,245
1,275,245
261,439
469,869
543,937
1,275,245

T he 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 financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by

Claire MacAleese FRAeS, Chair

Grenville Hodge, Treasurer

26 September 2024

The notes form an integral part of these financial statements

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Air League Trust

COMPANY BALANCE SHEET as at 31 December 2023

Notes
FIXED ASSETS
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS: amount falling due
within one year
14
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
15
Endowment funds
Restricted funds
Unrestricted funds		 2023
2022

£
£
£
£
1,032,807
1,172,240
1,032,807
1,172,240
166,026
114,743
83,002
57,957
249,028
172,700
(43,115)
(116,082)
205,913
56,618
1,238,720
1,228,858
260,593
261,439
477,330
469,869
500,797
497,550
1,238,720
1,228,858		 2023
2022

£
£
£
£
1,032,807
1,172,240
1,032,807
1,172,240
166,026
114,743
83,002
57,957
249,028
172,700
(43,115)
(116,082)
205,913
56,618
1,238,720
1,228,858
260,593
261,439
477,330
469,869
500,797
497,550
1,238,720
1,228,858
1,228,858
261,439
469,869
497,550
1,228,858

T he 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 financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The charity has taken the exemption from presenting the unconsolidated profit or loss under section 408 of the Companies Act. Unconsolidated loss for the charity was £91,272 during the year.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by

Claire MacAleese FRAeS, Chair

Grenville Hodge, Treasurer

26 September 2024

The notes form an integral part of these financial statements

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

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

2.1 Basis of preparation of financial statements

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.

Air League Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees' are confident, that the company will be able to maintain ongoing income streams for its activities as they are taking action to control costs where appropriate and will continue to monitor the position carefully. Given the situation, 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.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of 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

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third 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.

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

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.

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 Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Office equipment over 3 years Lightaircraft over 10 years - depreciation starts once the aircraft is fully built

2.6 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.

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost 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.

2.8 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.

2.9 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial 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.

2.10 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

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

2.11 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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or 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.

3 Income from donations and legacies

General donation
Trust and foundations grants
Corporate donations
Department of Transport
Corporate subscriptions
2022 analysis
4Investment income
Listed investments
Bank interest
2022 analysis		 Endowment
funds
Restricted
funds
Unrestricted
funds 2023 Total
2022
£
£
£
£
£
-
4,937
150,163
155,100
187,772
-
122,800
56,024
178,824
219,880
-
111,898
24,778
136,676
107,711
-
37,500
-
37,500
12,500
-
-
35,650
35,650
46,700
-
277,135
266,615
543,750
574,563
-
311,483
263,080
574,563
Endowment
funds
Restricted
funds
Unrestricted
funds 2023 Total
2022
£
£
£
£
£
-
-
19,531
19,531
22,205
-
-
1,234
1,234
247
-
-
20,765
20,765
22,452
5,612
-
16,840
22,452

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

5 Expenditure on raising funds

5 Expenditure on raising funds
Endowment Restricted Unrestricted
funds funds funds 2023 Total 2022
£ £ £ £ £
Staff costs - - 48,398 48,398 93,362
Events costs - - 49,704 49,704 46,309
Marketing and communications - 13,592 10,227 23,819 10,990
Support costs - - 65,841 65,841 67,062
- 13,592 174,170 187,762 217,723
2022 analysis - - 217,723 217,723
6 Expenditure on charitable activities
Endowment Restricted Unrestricted
6.1 Analysis by funds funds funds funds 2023 Total 2022
£ £ £ £ £
Aviation experiences (S2S) - 112,390 26,402 138,792 60,441
Flying scholarships/bursary 11,605 127,039 90,408 229,052 308,381
Gliding Solo - 8,425 10,848 19,273 38,838
Inspired Engineering - 8,958 11,840 20,798 37,880
Veteran Programme - 2,500 3,303 5,803 12,959
Innovators Challenge - 1,800 2,381 4,181 17,340
Other activities - - - - 8,076
11,605 261,112 145,182 417,899 483,915
2022 analysis 3,645 234,918 245,352 483,915
Direct Support
6.2 Analysis by activities Staff costs activities costs 2023 Total 2022
£ £ £ £ £
Aviation experiences (S2S) 71,975 39,278 27,539 138,792 60,441
Flying scholarships/bursary 79,500 119,136 30,416 229,052 308,381
Gliding Solo 7,936 8,300 3,037 19,273 38,838
Inspired Engineering 8,565 8,957 3,276 20,798 37,880
Veteran Programme 2,390 2,500 913 5,803 12,959
Innovators Challenge 1,721 1,800 660 4,181 17,340
Other activities - - - - 8,075
172,087 179,971 65,841 417,899 483,915

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

7 Analysis of support costs

Rent and rates
Insurance
Postage and stationary
IT maintenance, website
Recruitment
Bank charges
Sundry expenses
Governance compliance
Professional fees
Other cost
2022 analysis		 Aviation
experience
Flying
scholarship
Gliding
Solo
Inspired
Eng.
Veteran
Prog.
Innovator
Challenge
Other
activities
Fundra
ising
2023
Total
2022
£
£
£
£
£
£
£
£
£
£
3,078
3,400
339
366
102
74
-
7,359
14,718
13,313
2,030
2,242
224
242
67
49
-
4,854
9,708
8,646
6
7
1
1
-
-
-
15
30
428
3,835
4,236
423
456
127
93
-
9,170
18,340
15,230
4
4
1
-
-
-
-
9
18
198
220
243
24
26
7
5
-
525
1,050
1,420
494
545
54
59
16
12
-
1,180
2,360
2,537
2,037
2,250
225
242
68
48
-
4,870
9,740
4,800
11,475
12,674
1,265
1,365
381
274
- 27,435
54,869
65,533
4,360
4,815
481
519
145
105
- 10,424
20,849
22,019
27,539
30,416
3,037
3,276
913
660
- 65,841 131,682 134,124
8,376
42,736
5,382
5,250
1,796
2,403
1,119 67,062 134,124

8 Independent examiner's remunerations

Independent examination fee
9
Staff costs
Gross salaries
NI contribution
Employer pension
Redundancy
The average full time equivalent number of employees		 2023
2022
£
£
5,280
4,800
Group
2023
Group
2022
Charity
2023
Charity
2022
£
£
£
£
201,727
254,854
201,727
254,854
16,586
27,660
16,586
27,660
2,172
3,526
2,172
3,526
-
23,125
-
23,125
220,485
309,165
220,485
309,165
2023
2022
2023
2022
No.
No.
No.
No.
4
4
4
4

The average full time equivalent number of employees

One employee received emoluments in excess of £60,000 shown below

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

__ _____________
Group
2023
Group
2022
Charity
2023
Charity
2022
No.
No.
No.
No.
In the band £70,001 - £80,000
-
-
-
-
In the band £ 80,001 - £90,000
1
2
1
2

The remuneration of key management personnel during the year was £ 117,352 (2022: £250,670)

10 Trustees' remuneration and expenses Expense

During the year, no Trustees received any remuneration or other benefits (2022 - Nil)

(2022 - £Nil).

11 Tangible Fixed Assets
Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Provided during year
At 31 Dec 2023
Net book value
At 31 Dec 2023
At 31 Dec 2022		 Group
Charity
Offce
equipment
& website
Light aircraft
Slingshot
Group
Total
Offce
equipment &
website
Light
aircraft
Slingshot
Charity
Total
£
£
£
£
£
£
48,919
119,044
167,963
7,200
-
7,200
650
4,150
4,800
-
-
-
49,569
123,194
172,763
7,200
-
7,200
43,324
-
43,324
7,200
-
7,200
3,836
-
3,836
-
-
-
47,160
-
47,160
7,200
-
7,200
2,409
123,194
125,603
-
-
-
5,595
119,044
124,639
-
-
-

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

12 Fixed assets investments

Cost or valuation
At 1 January 2023
Revaluations Gain
Fund drawn
At 31 December 2023
Net book value
As 31 December 2023
At 31 December 2022		 Listed
investments
- Group
Listed
investments
- Charity
£
£
1,172,240
1,172,240
50,567
50,567
(190,000)
(190,000)
1,032,807
1,032,807
1,032,807
1,032,807
1,172,240
1,172,240

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 2023 the company turnover £59,900 (2022: £66,538), expenditure £60,532 (2022: £79,295) and loss £632 (2022: loss £12,757).

13 Debtors

Trade debtors
Other debtors
Prepayments and accrued Income
Amount owed to group undertakings		 Group
2023
Group
2022
Charity
2023
Charity
2022
£
£
£
£
41,100
15,000
20,000
-
-
384
-
384
17,666
16,029
16,833
16,029
-
-
129,193
98,330
58,766
31,413
166,026
114,743

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

14 Creditors: Amounts falling due within One year

Amount owed to group undertakings
Taxation and social security
Other creditors
Accrual and deferred income
Trade creditors		 Group
2023
Group
2022
Charity
2023
Charity
2022
£
£
£
£
-
-
-
11,974
10,612
6,582
8,291
900
944
-
-
9,205
55,996
9,205
55,996
28,393
61,907
27,328
51,795
50,472
129,459
43,115
116,082

The Accrued and deferred income above includes Nil (2022: £37,500) received from Dept of Transport for the programme activities planned in FY 2023.

15 Statement of funds

Statement of funds
UNRESTRICTED
GENERAL
01a UR General Trust
01c UR General Enterprise
General fund
02 DESIGNATED
02a Anonymous
02b Battle of Britain
02d MJ Marshal YIA
02e Lucas Aerospace
Subtotal Designated		 Balance
at Jan 1'
2023
Income Expenditure
Investment
gains
Transfer
between
fund
Balance at
Dec 31
2023
301,030
227,290
(257,596)
39,808
106,984
417,516
46,387
60,090
(60,531)
-
-
45,946
347,417
287,380
(318,127)
39,808
106,984
463,462
96,085
-
-
-
(96,085)
-
36,527
-
-
-
(8,076)
28,451
13,583
-
-
-
(6,025)
7,558
50,325
-
(1,225)
-
(1,828)
47,272
196,520
-
(1,225)
-
(112,014)
83,281
Total Unrestricted funds 543,937
287,380
(319,352)
39,808
(5,030)
546,743
03 ENDOWMENT
03a CA Barnes
03b Somers Scholarship		 57,318
-
(5,051)
2,359
-
54,626
204,121
-
(6,554)
8,400
-
205,967
Total 03 ENDOWMENT 261,439
-
(11,605)
10,759
-
260,593

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Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

__ ______
04 RESTRICTED
SOARING TO SUCCESS
DFT 21 S2S
DFT 22 S2S
Air Crew Trust
Millennium Point Trust
Aldenham Aviation
Boeing 22 S2S
BA 23 S2S
Boeing 23 S2S
SCHOLARSHIPS
Stelios Foundation
MacRobert Trust
Sir A Marshall Scholarship
R Kronfeld Fund
ADFS Fund
Swire Trust
Cobham New
617 Squadron
Miscellaneous
GLIDING SOLO
Airline Prep
Boeing 23 GS
INSPIRED ENGINEERING
Dick Lovetts
VETERAN PROGRAMME
Boeing 23 VP
INNOVATOR CHALLENGE
Total 04 RESTRICTED
TOTAL FUNDS		 _____________
217
-
(217)
-
-
-
10,583
37,500
(47,905)
-
-
178
15,000
-
-
-
-
15,000
-
19,700
-
-
19,700
-
20,000
(16,130)
-
-
3,870
5,086
-
(5,086)
-
-
-
-
55,544
(20,410)
-
-
35,134
26,393
36,734
(36,234)
-
-
26,893
57,279
169,478
(125,982)
-
-
100,775
20,000
60,000
(26,567)
-
-
53,433
85,813
-
(8,736)
-
-
77,077
117,399
-
(23,774)
-
-
93,625
41,989
-
(20,080)
-
-
21,909
17,879
-
-
-
-
17,879
(6,913)
18,000
(10,863)
-
(224)
-
106,438
-
(29,130)
-
-
77,308
6,855
3,600
(2,770)
-
-
7,685
1,514
6,657
(5,119)
-
(13)
3,039
390,974
88,257
(127,039)
-
(237)
351,955
500
(625)
125
-
8,000
11,000
(7,800)
-
-
11,200
8,000
11,500
(8,425)
-
125
11,200
8,353
-
(8,958)
-
605
-
8,000
7,900
(2,500)
-
-
13,400

(2,737)
-
(1,800)
-
4,537
-
469,869
277,135
(274,704)
-
5,030
477,330
-
1,275,245
564,515
(605,661)
50,567
- 1,284,666

39

Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

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

ENDOWMENT FUNDS:

CA Barnes - A donation made with gift aid to provide flying scholarships in perpetuity.

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

RESTRICTED FUNDS : We have organised the restricted funds presentation alining with our charitable activities that made fund monitoring and donor reporting easier.

SOARING TO SUCCESS: These activities are funded by the Department of Transport, Boeing, Aldenham Aviation and also brought forward grants from the Air Crew Trust.

SCHOLARSHIPS

Stelios Foundation - This fund provides scholarships to anyone in the United Kingdom.

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

Prince Phillip Flying Scholarship - To fund an annual scholarship of up to 30 hours. Trustees reviewed this historical fund and concluded that this should have been classified as unrestricted general fund therefore the fund balance at the year was transferred to general fund.

Sir Arthur Marshall FS - Sir Arthur Marshall of Cambridge made a donation in his name to provide a flying scholarship annually.

R Kronfield Fund - Donation made to provide one flying scholarship and one bursary.

ALDFS Fund - Flying scholarship and bursaries for young offenders.

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

Swire Trust - Fund provides flying scholarships.

Morehouse and Cobham - Fund provides flying scholarships.

617 Squadron - Fund provides flying scholarships.

GLIDING SOLO: These activities are funded by the Department of Transport and Boeing.

INSPIRED ENGINEERING : These activities are funded by Dick Lovetts and Aston Martin for engineering activities.

VETERAN PROGRAMME: Fund provides for activities run by veterans..

INNOVATORS CHALLENGE : Activities are funded by Sustainable Aviation and Lockheed Martin.

40

Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

Prior year 2022 Fund analysis

UNRESTRICTED
GENERAL
01a UR General Trust
01c UR General Enterprise
General fund
02 DESIGNATED
02a Anonymous
02b Battle of Britain
Red Arrow
02d MJ Marshal YIA
02e Lucas Aerospace
Subtotal Designated		 Balance
at Jan 1'
2022
Income Expenditure
Investment
losses
Transfer
between
fund
Balance at
Dec 31
2022
343,253
213,352
(371,923)
(84,247)
200,595
301,030
59,114
66,568
(79,295)
-
-
46,387
402,367
279,920
(451,218)
(84,247)
200,595
347,417
96,085
-
-
-
-
96,085
45,722
-
(9,195)
-
36,527
1,462
-
(1,462)
-
-
-
13,583
-
-
-
-
13,583
51,525
-
(1,200)
-
-
50,325
208,377
-
(11,857)
-
-
196,520
Total Unrestricted funds 610,744
279,920
(463,075)
(84,247)
200,595
543,937
03 ENDOWMENT
03a CA Barnes
03b Somers Scholarship		 77,107
1,291
(3,645)
(16,144)
(1,291)
57,318
258,177
4,321
-
(54,056)
(4,321)
204,121
Total 03 ENDOWMENT 335,284
5,612
(3,645)
(70,200)
(5,612)
261,439
04 RESTRICTED
SOARING TO SUCCESS
DFT 21 S2S
DFT 22 S2S
Air Crew Trust
Aldenham Aviation
Boeing 22 S2S
Boeing 23 S2S
SCHOLARSHIPS
Stelios Foundation
MacRobert Trust
Prince Philip Scholarship		 -
22,852
(8,100)
(14,535)
-
-
217
-
12,500
(1,917)
-
-
10,583
15,000
-
-
-
-
15,000
-
20,080
(20,551)
-
471
-
-
10,715
(5,551)
-
(78)
5,086
-
29,588
(3,195)
-
-
26,393
37,852
64,783
(45,749)
-
393
57,279
-
20,000
-
-
-
20,000
101,196
-
(15,383)
-
-
85,813
228,903
-
(26,642)
-
(202,261)
-

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Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

__ ______
Sir A Marshall Scholarship
R Kronfeld Fund
ADFS Fund
Swire Trust
Morehouse
Cobham New
617 Squadron
Miscellaneous
GLIDING SOLO
DFT 21 GS
Boeing 22 GS
Boeing 23 GS
INSPIRED ENGINEERING
Dick Lovetts
VETERAN PROGRAMME
Boeing 22 VP
Boeing 23 VP
SLINGSHOT
INNOVATOR CHALLENGE
Total 04 RESTRICTED
TOTAL FUNDS		 _____________
119,091
-
(1,692)
-
-
117,399
46,789
-
(4,800)
-
-
41,989
17,879
-
-
-
-
17,879
3,677
18,000
(28,590)
-
-
(6,913)
-
3,500
(4,528)
-
1,028
-
-
144,064
(37,626)
-
-
106,438
-
7,200
(345)
-
-
6,855
11,809
5,900
(21,974)
-
5,779
1,514
529,344
198,664
(141,580)
-
(195,454)
390,974
8,100
(8,100)
-
-
-
-
8,036
(8,036)
-
-
-
8,000
-
-
-
8,000
-
24,136
(16,136)
-
-
8,000
21,091
3,000
(15,738)
-
-
8,353
-
7,400
(7,478)
-
78
-
-
8,000
-
-
8,000
-
15,400
(7,478)
-
78
8,000
-

-
5,500
(8,237)
-
-
(2,737)
588,287
311,483
(234,918)
-
(194,983)
469,869
-
1,534,315
597,015
(701,638)
(154,447)
- 1,275,245

42

Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00

Air League Trust

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

16 Analysis of net assets between funds

2023 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
2023 Total
£
£
£
£
260,593
477,330
420,487
1,158,410
-
-
176,728
176,728
-
-
(50,472)
(50,472)
260,593
477,330
546,743
1,284,666
Endowment
funds
Restricted
funds
Unrestricted
funds
2022 Total
£
£
£
£
261,439
469,869
565,571
1,296,879
-
-
107,825
107,825
-
-
(129,459)
(129,459)
261,439
469,869
543,937
1,275,245

17 Related party transactions

At the balance sheet date, the trust was owed a balance of £129,193 from Air League Enterprises Limited, a company over which the trust has joint control and significant influence. In 2022, £98,331 was owed from Air League Enterprises Limited.

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 £8,000 (2022: £nil).

43

Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00