**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 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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| Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 1 **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 2 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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. 3 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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. 4 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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: - ★ Inspiring young people - ★ Overcoming disadvantage - ★ STEM and other skills agendas - ★ Developing the next generation of aviation and aerospace professionals - ★ Employability and career pathways to benefit the UK and specific companies. - ★ Collaboration with stakeholders including Government, regional alliances, industry and third sector partners. 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. 5 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **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: - Aerobility - Air League Scholars - Airbus - BAE Systems - Boeing - British Airways - Civil Aviation Authority - Department for Transport Aviation Ambassadors - Eagle Eye Innovations - International Airlines Group - ● Junior Gliding - KISPE - The Royal Air Force - ● University of West London 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: - deeper industry knowledge and context through the lens of a company or industry body. - new industry-related learning and transferable skills. - career profiles, apprenticeship information and signposting (through the Air League Partnership with the Talentview Aviation recruitment platform – which is also funded by the DfT). - The courses included: - An introduction to the platform and the modules - British Airways – Airline Operations and Customer Service - Civil Aviation Authority – Cyber Security - Eagle Eye Innovations – Drones and Remotely Piloted Systems - BAE Systems – Cockpit Design - Bristol Ground School – Pilot Training - Talentview Aviation 6 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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** . - These took place at: 1. Yorkshire Gliding Club where students took part in a glider trial flight or simulator experience and tour of facilities, as well as a STEM workshop provided by a local apprentice from BAE Systems on wearable technologies. 2. London Elstree Aerodrome where students took part in a trial flight in a powered aircraft, a simulator landing competition and a full tour of the aerodrome facilities including ICE Helicopters, maintenance, fire and fuel safety, as well as the air traffic control tower. 3. Husbands Bosworth Gliding Centre where students took part in a glider trial flight, as well as a STEM workshop provided by the locally based Aircraft Research Association (ARA) on aerofoils and wind tunnel testing. ## **11 successful Air Experience Days were completed between April and July 2023 for 145 students from 10 schools** - Yorkshire Gliding Club, Sutton Bank 19th 20th April 2023 • Outwood Academy Carlton, Barnsley - London Elstree Aerodrome 25th 26th April 2023 - Goffs-Churchgate Academy, Hertfordshire - Cleeve Park, Sidcup - Cleeve Meadow, Sidcup - Yorkshire Gliding Club, Sutton Bank 13th 15th June 2023 - All Saints, Sheffield - Astrea Dearne, Doncaster - St Bernard’s Catholic High School, Rotherham - London Elstree Aerodrome 27th 29th June 2023 - Edmonton County School, London - Hertswood Academy, Hertfordshire – plus visitors from the Department for Transport, Civil Aviation Authority and Hertfordshire Careers & Enterprise - Birchwood Academy, Hertfordshire – plus videography production The Gliding Centre, Husbands Bosworth 19th July 2023 - The Arthur Terry School, Sutton Coldfield 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: - Fleet Planning Analyst - Cabin Crew - Satellite Engineer Support - Flight Technical Trainer - Senior Technical Engineer - Customer Experience Representative - Construction and Facilities - Tier 2 manufacturing of Sensors - Human Factors Engineering - Aerofoil Research and Development - Air Traffic Control - Private and Commercial Pilots 7 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust** ## **TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **2022-23 Air Experience Days** - **Yorkshire Gliding Club, Sutton Bank 19th-20th April 2023** • Outwood Academy Carlton, Barnsley ## **London Elstree Aerodrome 25th-26th April 2023** - Goffs-Churchgate Academy, Hertfordshire - Cleeve Park and Cleeve Meadow, Sidcup, London 8 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust** ## **TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **Yorkshire Gliding Club, Sutton Bank 13th-15th June 2023** - All Saints, Sheffield - • Astrea Dearne, Doncaster • St Bernard’s Catholic High School, Rotherham ## **London Elstree Aerodrome 27th-29th June 2023** - Edmonton County School, London - Hertswood Academy, Hertfordshire - • Birchwood Academy, Hertfordshire 9 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **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. 10 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **Air League Trust** ## **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.** 11 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust** ## **TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **Participant experience and outcomes** - Students were inspired and demonstrated personal growth. We have received reports of students: - actively researching roles in air traffic control - making applications for Air League scholarships - conducting further research to further develop their industry knowledge. - seeking work experience opportunities related to the industry - being awarded apprenticeships at BAE Systems - planning further flying and gliding activities both personally and to further introduce friends and/or family 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. 12 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust** ## **TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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. “ 13 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **Air League Trust** ## **TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ “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: - Aerobility - Air League Scholars - Air Scouts - Air Service Training - Airbus - BAE Systems - Boeing - British Airways - ● Civil Aviation Authority - Clyde & Co - Department for Transport Aviation Ambassadors - ● Eagle Eye Innovations ● Hot Air Ballooning ● International Airlines Group - Junior Gliding - KISPE Space - Lockheed Martin - ● NATS ● The Royal Air Force - University of West London - Zero Avia The access to recordings on demand is already expected to exceed those of the previous year. 14 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ 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. 15 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ 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. 16 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ 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). 17 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ 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. 18 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ 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** - The Air League offers Private Pilot License (PPL), 12-Hour, 5-Hour and 3-Hour Flying Scholarships to applicants aged 16 and above. This tiered approach offers those with zero to little aviation experience an opportunity to gain skill, build an understanding and an insight into the amazing opportunities available. It also enables those with some existing flying experience to further progress their training and ratings. - Our approved training providers are based in London, South-East, Midlands, North-West, and Scotland. - Our Flying Scholarships include flying training, ground training, full board accommodation for the duration of the scholarship and temporary club membership. - 450 Flying Scholarship applications were received, and 120 applicants were interviewed by joint Air League and British Airways panels at the British Airways Waterside Recruitment Facility. - **In 2023, we awarded 66 Flying Scholarships** . This included 2 x full PPL Scholarships, 10 x 12-Hour Flying Scholarships, 15 x 3-Hour Flying Scholarships and 39 x 5-Hour Flying Scholarships. - The majority of funding is drawn down from the Air League restricted funds base, much of which has been invested for many years, and cannot be diversified to other activities. Some funding is also drawn from annual donations from individuals and foundations looking to support young people who desire to enter the aviation industry. 19 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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.** 20 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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. - The course is held residentially over 2 days at our training partner, Eagle Eye Innovations in Lincoln. **In 2023, we awarded 8 drone scholarships.** - After completing the course, participants are awarded the CAA A2 Certificate of Competency. This is an entry-level qualification and allows an operator to fly a drone in the A2 category (Close to People). ## **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. - **In 2023, we awarded 6 engineering scholarships.** 4 placements were conducted at Marshall Aerospace in Cambridge and 2 placements were conducted at Affinity Flying Training Services at RAF Cranwell. We are looking to significantly expand the number of placements provided to address the shortage of engineers and apprentices. 21 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **Feedback** - In 2023, feedback gathered from the scholarship programme delivered the following statistics: - **31%** of scholars were female versus the industry average of 6.5% for pilots. - **One in three scholars** were from an ethnic or minority background. - **49%** of scholars were under the age of 18 and **47%** were aged between 18-25. - **50%** of scholars’ parents were not university educated. - **98%** of scholars reported that their career goals now felt more achievable because of their scholarship. - **90%** of scholars reported that their scholarship increased their technical skills, **85%** their motivation and **75%** their self-confidence. - Work is being conducted to assess the impact of the Scholarships on future careers more widely. Recent informal analysis by Tui concluded that former Air League Scholars were a third more likely to be selected for an Airline Sponsored Pilot Training Programme than those lacking this experience. Many ex-Scholars are established as Commercial and Military Pilots, and many go on to leading roles in the aerospace sector. - 2023 Flying Scholarship recipient Aaron Macleod was awarded a place on the highly competitive Aer Lingus Future Pilot Programme. ‘I really cannot thank the Air League enough for the support over the past year. I believe my experience interviewing and subsequently being awarded such a prestigious scholarship was one of the reasons I was selected by Aer Lingus. The situations I was exposed to in the scholarship, such as making the decision to go around when the circuit pattern became too busy, really gave me the opportunity to showcase my aptitude for piloting during the interview.’ – **Aaron MacLeod (2023 Flying Scholarship Recipient).** 22 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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: - A coach collects the party of <50 (from Schools within a 50-mile radius of Bristol) and transports the group to Aerospace Museum, UWE School of Engineering and return to School. - During the 2-hour visit to the Aerospace Museum in the morning - covering the historical and technical developments from the start of aviation through until Concorde and culminating with Rocket technology and Space (the Mars mission was a recent feature). - Following lunch, a follow-on session at the UWE School of Engineering (where the mystique of attending University is broken down a little) utilises a virtual ‘Bristol’, utilising Minecraft gaming software, where the sustainability ideas for the city, it’s infrastructure, the airport and operating aircraft etc can be tried out. The link below offers more information about the west in Minecraft: - https://www.digitaltrailblazers.net/resources/3a62f062-f9f1-43c8-bd28-1a01ce800f54 23 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **Air League Trust** **TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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: - **March:** Young Aviators Dinner at RAF club with 120 attendees from across ALT/HCAP. - **June:** Annual Reception and presentation of honours and awards at House of Commons Terrace with 300 attendees. - **July:** JetZero Network event focusing on sustainability at McKinsey & Company, London. - **October:** Partnership with Heathrow Airport Limited to conduct a ‘familiarisation visit’ of the cargo facilities. - **November:** Scholarship Awards Reception at Royal Aeronautical Society with 250 attendees. ## **New Initiatives** - Addition of a ‘Members Forum’ Facebook group for members to network, chat, and share achievements: active with over 200 members. - Addition of a monthly Members Newsletter with news, updates and information about the Air League. Average click rate 4%, average open rate 87.2%. - The start of regular online webinars to educate and inform members around various topics: examples include rotary aviation, the paths to commercial aviation, aviation medicals, GA safety for PPL holders. - Creation of a community of members writing aviation related news, stories and articles which feature in monthly newsletter. ## **Performance** - In 2023, we saw a 133% increase in new members, when compared to 2022. - Facebook reach increased by 3200% and Instagram reach increased by 2000%. - Facebook profile visits increased by 365% and Instagram profile visits increased by 197%. 24 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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. 25 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **Air League Trust TRUSTEES REPORT for the year ended 31 December 2023** _____________________________________________________________________________________________ ## **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: - select suitable accounting policies and then apply them consistently. - observe the methods and principles of the charity SORP. - make judgements and estimates that are reasonable and prudent. - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 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 26 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **Air League Trust** ## **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: - 1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or - 2) the accounts do not accord with those records; or - 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or - 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 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)]. 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 27 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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 28 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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 29 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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 30 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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. 31 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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 32 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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
4**Investment 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| 33 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **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**| 34 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **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 35 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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
-
-
-| 36 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **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**| 37 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 ## **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**| 38 Doc ID: 17375144f7a8fbae55554ffdc9f72c87651a4b00 **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)
-| 41 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