Company number: 06794828
Charity number in England and Wales (No.1129969)
and in Scotland (SC052408)
THE AIR LEAGUE
AIR LEAGUE TRUST
(A company limited by guarantee)
Trustees. Report and Financial
Statements for the year ended 31
December 2024
Group Consolidated Accounts
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Air League Trust
CONTENTS
CONTENTS
Page
Legal and administrative details
Report of the Trustees
3-21
Independent Examiners Rewrt
22
Statement of Financial Activities
23
Balance Sheet
24-25
Notes to the Financial Statements
26-38
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Air League Trust
LEGAL AND ADMINISTRATIVE DEfAILS
Patron:
HRH The Prince Philip Duke of Edinburyh KG Icr (deceased 09 April 2021)
p￿ident.
Sir Christopher Harper KBE MA CMGR CCMI MIOD RAF
Trustees:
The Board of Trustees, who are also the directors for the purwse of
company law, and who served during the year were:
Mr J Steel KC FRAeS (Chairman - resigned 30 April 2024)
Ms C MacAleese FRAeS (Chair - from l May 2024)
Mr G R Hodge (Hon. Treasurer)
Mr N C Whitney FRAeS MBE (resigned 16 April 2025)
Mr J Greaves FRAeS
Ms Z M Layden FRAeS (resigned 27 June 2024)
Air Cdre Anthony Keeling OBE MA CEng FRAeS (resigned 30 October 2024)
Ms A T Bernie
Mr R F S Baker (resigned 9 July 2025)
Mr A Perkins
Dame D Childs
Mr Nigel Lowe (appointed 09 July 2025)
Mr Paul Everitt (appointed 09 July 2025)
Al Lewis (appointed 15 January 2025)
Company Secretary Mrs J Homsby (Appointed 26 August 2024)
Mr G Hodge (AppK)inted 19 April 2024, resigned 26 August 2024)
Mr I C Morrison CBE FRAeS (Resigned 18 April 2024)
Management:
Mrs J Homsby (Chief Executive Officer- apwinted 26 August 2024)
Mr I C Morri50n CBE FRAeS (Chief Executive Officer - resigned 18 April 2024)
Charity number:
In England and Wales 1129969 and Scouand SC052408
Company number:
06794828
Principal Office:
4 Hamilton Place
London
WIJ 7BQ
Bankers:
Natwest Bank Western
Avenue Chatham, Kent
ME4 4RT
Accountants:
Charity Accounting Services Limited
Spaces, 6 Sutton Plaza
Sutton, London, SMI 4FS
Independent
examiner
Janice Matthew FCA
Menzies LLP Chartered Accountsnts
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 2024
The Trustees present their report with the financial statements of the charity for the year ended 31
December 2024. The Trustees have adopted the provisions of the Ststement 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) (effettive january 2019).
The Trustees, report is also a directors, report as required by company law.
INTRODucfIoN 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 vitsl
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 FiAF 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 organi5ation and is now constituted as an incorporated
charity (Air League Trust Ltd) with a tsBding subsidiary (Air League Enterprises Ltd).
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is constituted as a limited company, limited by guarant￿, a5 defined by the
Companie5 Art 2006. The Trusts goveming document is its memorandum and articles of
association.
Trustees have complied with their duty in section 11 of the Charities Att 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 dirertors of the company for the purposes of company law, are recruited
with regard to their respettive 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 Chari
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 2024
Organisational Structure
The Air League is governed by a Board of Trustees chaired by Ms C MacAleese FFiAeS (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 lan Morrison CBE FRAeS, held re5pon5ibility for the
day-to-day management of The Air League until his resignation on 18 April 2024. Mrs Janine
Hornsby was appointed CEO on 26 August 2024. The CEO sUPPOrted by a small core team and
specialist contrattors delivers 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 *ctors, with additional support
from the Air League Council (an advisory body) under the Chairmanship of the President Sir
Christopher Harper KBE MA FRAeS CMGR CCMI MIOD RAF.
The Trustees met on 6 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
Soaring to Success programme, and to manage policies and performan￿.
Charitable Fundraising
The Air League Trust is a registered member with the Fundraising Regulator. We worl( to the
Fundraising Code and Promise Set out by the Regulator and are signed up to the Code of Prattice.
From Jan - Sep 2024, the Air League employed the service5 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 likelihcrf)d 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 respN)nsibility 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 pla￿ to mitigate ex￿SUre 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 2024.
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TRUSTEES REPORT
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OBJEcfIvES AND AcfIvITIES
The objerts 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 Trises 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 owarding scholarships and work opportunities throush oviotion,
aerospace and space,.
The Air League s projects cover several themes around aviation and aerospace, not purely through
flying activity. It also creates further opwrtunities around gfEM 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 car￿r 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.
* CollaboTrtion with stakeholders including Government, regional alliances, industry and third
settor partners.
Each year many people from disadvantsged 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, aerospa￿ and Spa￿ 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 Trusys aims and objectives.
During the year the Board has considered the guidance from the Charity Commission and Section 17
of the Charities Art 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 reFort.
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Air League Trust
TRUSTEES REPORT
for the year ended 31 December 2024
ACHIEVEMENT AND PERFORMANCE
Soaring to Success
Soaring for Succe55 is a programme of career enrichment activity for state-funded secondary
school students aged belween 13-17 that ha5 b￿n specifically created to bridge the gap betmeen
education and industry in order to inspire, enable and support the next generation to pursue
careers within aviation and aerospace.
The current programme is made up of thr￿ distinct phases designed to attract, educate, engage
and inspire:
Careers Enrichment Conference
Total Students
Reached
Nationally broadcast career conference streamed
live into classrooms featuring 20 industry experts
over three days including ll speakersfrom British
Airways.
8,150
E-Learning Modules
Featuring a wide range of industry-desizned
courses, including BA'S Airline Operations and
Customer Service module, to help build skiiis and
knowledge in science, technology, engineering and
mathematics through the lens of aviation.
Total schools
Participated
130
Air Experience Days
Total Students
Took Fllght
The Air Experience Days mark the culmination of
the Soaring to Success programme, giving those
students who have displayed the most interest,
commitment and aptitude, the opportunity to
enjoy first-hand exposure to ftight through
simulation, gliding and powered light aircraft.
320
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Air League Trust
TRUSTEES REPORT
for the year ended 31 December 2024
ualo
ortunities Monitorin
To support FX]rtners like British Airways build a more
inclusive workforce. we target state funded schools and
engage a diverse group of young people.
The demographic data highlights the dtveisity of students
weve reached to date.
We have observed notable changes in our students following their
participation in the activlty. 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.
-WAi rs
Participation Heat Map
FEMALE
PUPIL PREMIUM
ETHNIC MINORITY
33/
21%
57%
Pro
ramme Outcomes
The quantitstive and qualitative feedback we gather from tM)th the students and schools continues to be
overwhelmingly positive.
98 % - Activities dispelled industry stereotypes and barriers to entry
980/0 - The activities were engaging
100 % - Would take Part Again
100 % - Activities were well organised
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Air League Trust
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for the year ended 31 December 2024
Lookin
to the Future
Filght Path - A sustalnable, collaboratlve pathway Into avlatlon, aerospace and space
2024
2025
2026
2027
Secure strategic partners
lor 2025- 2027
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Project Slingshot- (National Youth Plane Building Programme)
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Air League Trust
TRUSTEES REPORT
for the year ended 31 December 2024
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 siandards of work.
We are proud to report that 100 % of Project Slingshot alumni are now employed within the aviation
or aerospace sectors - a powerful testament to the effectiveness and relevance of the programme.
The aircraft is being built in 2 locations: (RAF Cosford - shown above) - where students from Aston
University Engineering Academy (AUEA) experien￿ aircraft building techniques (supeNised by
experienced Engineer5 - with oversight from ￿ght Aircraft Association (LAA) Inspectors) and learn
the intricacies of Stores management and Tc()I controls (pirtured below).
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Air League Trust
TRUSTEES REPORT
for the year ended 31 December 2024
At the second location, the Manufacturing Technology Centre (MTC), Coventy (workshop shown
below) - the 45 participating apprentI￿s, have been charged with construtting the aircraft wings
(and enclosed fuel tanks) with advi￿ and oversight from an Air League SME and LiA inspectors.
In 2024, upon completion of the aircraft wings, they were transported to RAF Cosford, along with
the aircraft fuselage, for final assembly by the Aston University Engineering Academy (AUEA)
students.
Project Slingshot has successfijlly transitioned to its new hangar frdcility at RAF Cosford, which now
houses Typhoon aircraft. This relocation significantly enhan￿S the aspirational environment for
participating sbjdents, offering them a unique and motivating proximity to front-line aviation
technology.
Build Status
Students are currently focused on building the avionics components for the aircraft s flight control
system. This hands-on experience continues to provide invaluable technical training aligned with
real-world aerospace standards.
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Air League Trust
TRUSTEES REPORT
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Completion Update
The final commissioning and flight-tesbng phases exceed the operntional capacity of AUEA and are
not viable under current general aviation restrictions at RAF Cosford. Given these limitations, a
relocation of final assembly and flight testing to RAF Cranwell is being explored. RAF Cranwell offers
the added advantage of proximity to Serco's Surface Finishing Facility, whose team has recent
experience with the specific paint systems required and have previously completed work to an
excellent standard.
Scholarships
Each year the Air League offers scholarships to support young people whose desire is to enter the
aviation and aerospace industries. In 2024, £170K in funding was allfxated to our Flying, Elettric
Flying, Air TTrn5POrt Pilot License (ATPL) Theory, Gliding, Drone and Engineering Scholarships.
Scholarshi
The Air League offers Private Pilot License (PPL), 12-Hour, 5-Hour and 3-Hour Flying
Scholarships to applicants aged 16 and aLK)ve. 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 progre55 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 flying clubl5chool membership.
800 Flying Scholarship applications were received, and 120 applicants were interviewed
by interview panels made up of Air League staff and volunteers at the Stelios
Philanthropic Foundation London HQ.
In 2024, we awarded 56 Flying Scholarships. This included 2 x full PPL
Scholarships, 12 x 12-Hour Flying Scholarships, 17 x 5-Hour Flying Scholarships and 25 x
3-Hour Flying Scholarships.
The majority of funding 15 drawn down from the Air League re5tritted funds base,
much of which has been invested ft)r many years, and cannot be diversified to other
activities. Some funding is also drnwn from annual donations from individuals and
foundations looking to SUPPK)rt young people who desire to enter the aviation industry.
G.ECAP
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Electric Fl in
Scholarshi
We are the only organisation in the UK offering Ey)th conventionally powered and electric flying
scholarships. We offer 5-hour electric flying scholarships to applicants aged 16 and above.
Electric Flying Scholarships are conducted at our training Partner, Saxon Air in Norwich. Scholars
fly the electrically powered Pipistrel Velis Electro. In 2024, we awarded 3 Electric Flying
Scholarships.
11
ATPL Theo
Scholarshi
Our ATPL theory bursaries provide PPL(A) holders aged 17 and above with a Padpilot ATPL theory
book set: 17 eBooks comprising of the 13 mandatory subjects as well as maths and physics.
Successful candidates receive access to the Padpilot database for 36 months. In 2024, we
awarded 5 ATPL theory bursarie
Glidin
to Solo Scholarshi
This scholarship provides an introductory gliding course and ground school 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 2024, we awarded 9 Gliding to Solo Scholarships.
FY.-
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Glidin
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 2024, we awarded 24 gliding bursaries.
Drone Scholarshi
Our drone Scholarships provide individuals aged 18 and above with an opportunity to explore the
career pathway options within the Remotely Piloted AircTrft System (RPAS) settor.
The course is held residentially over 2 days at our training partner, Eagle Eye Innovations
in Lincoln. In 2024, we awarded 9 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).
ThE AIR LEAGUE
EAGLE EYF
2024 DRONE SCHOLARSHIPS SPONSORED BY EAGLE EYE INNOVATIONS
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Air League Trust
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for the year ended 31 December 2024
En
ineerin
Scholarshi
Our engineering scholarships provide individuals aged 18 and above with an opportunity to
explore career pathway options within the ae￿)Spa￿ engineering sector. Our engineering
scholarships consist of a 2-week industry placement with one of our corporate partners,
including full-board accommodation.
In 2024, we awarded 3 engineering scholarships. 3 pla￿rnents were conducted
at AfFinity Flying Training Services at RAF Cranwell. We are working on Significantly
expand the number of placements provided to addre55 the shortage of engineers and
apprenti￿5.
2024 ENGINEERING
SCHOLARS COMPLETE
WORK PLACEMENTS
Affinity
AMIMIRIA
K¥EII
ThE AIR LEAGUE
Feedback
In 2024, feedback gathered from the scholarship programme delivered the following statistics:
300/0 of scholars were female, compared to the industry average of just 6.50/0 for pilots.
One in four scholars came from ethnic or minority backgrounds.
450/0 of scholars were under 18, while 48 % were aged between 18 and 24.
450/0 of scholars had parents who had not attended university.
990/0 of scholars stated that the scholarship provided them with additional skills to
support a future car￿r in aviation, aerospa￿, or spa￿.
970/0 reported that their career goals felt more achievable thanks to the scholarship.
85 % said the scholarship improved their 5elf-confidence, 820/0 noted increased
motivation, and 770/0 Saw an improvement in their technical skills
Additionallyi a survey of our scholars from 2018-2024 found that 810/0 of
ex-scholars are either working in the aviation industry or are pursuing
aviation-related studies.
2024 Flying Scholarship recipient Jack Hickey-welsh was awarded a pla￿ on the highly
competitive British Airways Speedbird Pilot Academy.
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for the year ended 31 December 2024
'In7 thrilled to share that I have been offered a role on British Al￿ayS Speedbird fvlly
fvnded pilot training pmgramme. The expenence gained fmm my PPL scholarship has been
invaluable. The flight hours I ve completed have provided a solid foundation for my training,
and preparing for the theoretical exams has given me fantastic insight into what lies ahead
in the coming years.,
Jack Hickey-welsh (2024 PPL Flying Scholarship Recipient).
This scholarship is a gamefhanger for me. As a fvll time carer for my disabled brother it lifts a
huge financial burden and allows me to transition from gliding to powered flying. With your support
I can now work towards my Private Pilot ￿Cense (PPL), which is a crucial step bringing me one
step closer to becoming a commercial airline pilot. My next big step is to dive into my pilot training
with all my energy and f￿U5, knowing that I have your support behind me. This scholarship not only
helps me achieve my dream of Ilying but also motivates me to be a force for positive change in the
aviation industry., _ India Morrell (2024 5-hour Flying Scholarship Recipient)
Battle Back Veteran Gliding Course
For over a decade the Air League ha5 offered gliding scholarships to wounded and injured serv1￿men and women.
Our Battle Back gliding course is run in partnership with the Army Gliding Association at Wyvern Gliding Club. The
l-week programme includes gliding training. ground training, full LN)ard accommodation and temporary club
membership.
The course is designed to be a Workfor￿ transition, recovery and rehabilitation programme that allows our
scholars to build self-confidence and self-belief whilst at the same b'me being able to gain life skills and explore the
opportunities available to them within aviation, aerospa￿ and space. In 2024, 11 veterans and service
members participated in the Battle Back Veteran Gliding Course.
My injury and mental health struggles, disappeared within seconds of the first launch, whether you ve done it
before or you re a first-time glider it was amazing,. beautifvl l(Kation, excellent people and inspirational fvn.'_ Ben
Wilson, Pilot Officer (Retired), RAF
Since my accident 6 years ago, this is the first time I have done something adventurous. It felt amazing to do
something that gave me that incredible adrenaline nish in a safe and supported environment but it also felt so
good to be part of a team again. I fully intend to carry on with army gliding as often as I can manage. Thank you
so much for the opportunity.'_ Gemma Whitchurch Lan￿ Corporal (Retired) British Army
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Communications
Events
The Air League hosted and facilitated the following events during 2024:
February: The Aviation aub UK February Networking Reception
April: Young Aviators Dinner at RAF club with 120 attendees from across ALTIHCAP.
June: Heathrow Airport Construction Careers Event
September: Airline Economics Growth Frontiers conferen￿ and Aviation Club UK NeI￿orkn.ng Reception
October: Scholarship Awards Reception at Royal Aeronautical Sc(iety with 250 attendees.
November: Annual Reception and presentation of honours and awards at House of Commons Terra￿ with
300 attendees. Heathrow Airport Animal Handling Facilities Tour.
New Initiatives
Addition of a 'Members Forum, Fa￿b(K)k 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 atx)ut the Air League.
Average click rate 4 % , average open rate 700/0.
The start of regular online webinars to educate and inform members around various topics: including the
path5 to commercial aviation, ATPL Theory and scholarship applications.
Creation of a community of members writing aviation related news, stories and articles which feature in
monthly newsletter.
Perfomiance
In 2024, we saw a 85 % increase in new members, when compared to 2023.
Social media reach and profile visits conb'nue to increase, when compared to 2023.
PLANS FOR THE YEAR AHEAD
In the coming year, the Air League will continue to offer its scholarships and, where possible, align
them with the broader Soaring to Succe55 Programme. As outlined on page 8, the reach and impatt
of Soaring to Success will also be expanded.
The Electric Flying Scholarship Programme will grow, with additional post-PPL awards, including
ATPL Theory ground school packages. The Engineering Scholarship Programme will be further
developed in collaboTrtion with ￿Em Workforce and Talent Solutions to help address the shortage
of aerospace engineers and maintenance personnel.
The number of Drone Scholarships will increase and, for the first time, will be open to non-members
to attTrct those considering a long-temi career in the RPAS industry.
The Battle Back Veteran PrOg￿mme will continue in partnership with Boeing and the Army Gliding
Club.
Project Slingshot will maintain its engagement with young people throughout 2025, with completion
expected in 2026.
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Air League Trust
TRUSTEES REPORT
for the year ended 31 December 2024
FINANCIAL REVIEW
The income during the year slightly decreased to £360,102 (2023: £564,515). The expenditure for
the year remained slightly higher than last year £599,066 (2023: £605,661). The investment gain
during the year was 66,739 compared to a gain of £50,567 in 2023.
Reserves level and policy
The total funds of The Air League at 31 December 2024 were £1,112,441 (2023: £1,284,666) of
which £263,992 (2023: £260,593) were held as permanent endowment and £458,630 as restricted
ftjnds (2023: 477,330). The balance represents unre5tritted funds of £389,819 (2023: £546,743), of
which £127,483 (2023.. £125,603) were held in tangible fixed assets, leaving the balance of free
reserves of the Trust of £262,336 (2023: £421,140).
Taking one year with another, the Trustees seek trj 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 purpN)ses of the charity. The
Trust￿ consider that the value of such funds on 31 December 2024 meets these objectives.
Investment policyi perfornian￿, 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 maintsin 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 2.330/0 (2023:
2.010/0). The portfolio has experienced a valuation 6.460/0 of gain (2023: gain 5.09 % ) over the
last 12 months. The Trustees follow an ethical investment policy.
Going concern
After making appropriate enquiries, including assessments of the key risks and fijture budgets, the
Trust￿ have a reasonable expectation that the charity has adequate resources to continue in
operational existence for the foreseeable future. For this reason the Trustee5 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 2.
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Air League Trust
TRUSTEES REPORT
for the year ended 31 December 2024
STATEMENT OF TRUSTEES RESPONSIBILrrIES
The Board of the Air League Trust is responsible for preparing Report of the Trustees and the
financial statements in accordanTr 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 trUSt￿S are
required to:
select suitsble accounting policies and then apply them consistently.
observe the method5 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 accordan￿ 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 2025
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Air League Trust
INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF AIR LEAGUE TRUST
('the Company,)
for the year ended 31 December 2024
I report to the charity Trustees on my examination of the accounts of the Company for the year
ended 31 December 2024.
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 ACV).
Having satisfied myself that the accounts of the Company a￿ not required to be audited under Part
16 of the 2006 Att and are eligible for independent examination, I report in respert of my
examination of the Company's accounts carried out under settion 145 of the Charities Art 2011 ('the
2011 Act,). In carrying out my examination I have followed the Direcbons 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:
l) accounting records We￿ not kept in respett of the Company as required by 5ettion 386 of
the 2006 Att; 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 Practi￿ for accounb.ng and reporting by charities [applicable
to charities preparing their accounts in accordance with the Financial Reporting Stsndard
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 repN)rt in order to enable a proper understanding of the
accounts to be reached.
Since the Company s gr055 income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Att. 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 b￿n 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: 26 September 2025
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Air League Trust
CONSOLIDATED sfATEMENT OF FINANCIAL AcrIvrrIES
for the year ended 31 December 2024
2024
Total 2023 Total
Endowment Restricted Unrestricted
funds
funds
funds
funds
funds
Notes
INCOMEAND ENDOWMENTS
Donations and legacies
Investment
224,405
112,348 336,753
23.349
23,349
543,750
20,765
Total incoming resources
224.405
135,697 360,102
564,515
EXPENDITURE
Raisingfunds
Charitable activities
197,384 197,384
147,936 401,682
187,762
417,899
10,641 243,105
Total expenditure
10,641 243.105
345,320 599,066
605,661
Net gains/lLossl on investment
14,040
52,699
66,739
50,567
NET INCOME /(EXPENDITURE)
3.399 (18.7￿} 1156,924) (172,225)
9,421
Transfer between funds
NETMOVEMENTIN FUNDS
3.399 (18.7CM)) (156,924) (172,225)
9,421
Total funds brought forward
260,593 477,330
546,743 1,284,666 1,275,245
FUNDSCARRIED FORWARD
263,992 458,630
389,819 1,112,441 1,284,666
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 SHEEr
as at 31 December 2024
Company Number: 06794828
2024
2023
Notes
FIXED ASSETS
Tangible assets
Investments
11
127.483
949,546
1,077,029
125,603
1,032,807
1,158,410
12
CURRENT ASSErs
Debtors
13
34.755
52.392
58,766
117,962
Cash at bank and in hand
87,147
176.728
CREDITORS: amount falling due
within one year
14
151.7351
150,4721
NEfcuRRENT ASSETS
35,412
126,256
NET ASSETS
1.112,441
1,284,666
CHARITY FUNDS
15
Endowment funds
263,992
458,630
389.819
260,593
477,330
546,743
Restricted funds
Unrestricted funds
1,112,441
1,284,666
The Companywas entitled to exemption from audit under section 477of the CompaniesAct 2006.
The members have not required the comp3nytoobtain an audit for theyear in question in accordance with section 476
of Companies Act 2006.
The Trustees acknowledge their responsibilities for complyingwith the requirements of theActwith 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 theTrustees and signed on their behalf by
Claire MacAleese FRAeS. Chair
Grenville Hodge, Treasurer
26 September 2025
The notes form an integral partof thesefinancial statements
21
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Air League Trust
COMPANY BALANCE SHEET
as at 31 December 2024
Company Number: 06794828
2024
2023
Notes
FIXED ASSETS
Investments
12
949.546
949,546
1,032,807
1,032,807
CURRENT ASSErs
Debtors
13
127,257
48.444
166,026
83,002
Cash at bank and in hand
175,701
249,028
CREDITORS: amount falling due
within one year
14
149,4661
143,1151
N￿CURRENT ASSETS
126.235
205,913
NET ASSETS
1,075,781
1,238,720
CHARIVIFUNDS
15
Endowment funds
263,992
458,630
353.159
1,075,781
260,593
477,330
500,797
1,238,720
Restricted funds
Unrestricted funds
The Companywas entitled to exemption from audit under section 477of the Companies Act 2W6.
The members have not required the companytoobtain an auditfor theyear in question in accordance with section
476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complyingwith the requirements of theAct with respect to
accounting records and preparation of financi31 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 profitor loss under section 408 of the
Companies Act. Unconsolidated loss for the charitywas £161.941 duringthe year.
The financial statementswere approved and authorised for issue by theTrustees and signed on their behalf by
Claire MacAlee5e FRAeS. Chair
Grenville Hodge, Treasurer
26 September 2025
The notes form an integral partof thesefinancial statetnent5
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
l.General inforniation
Air League Trust is a private company limited by guarantee incorwrated in England and Wales. The
registered office is 4 Hamilton Place, London, WIJ 7BQ. The members of the company are the Trustees
named on page l. 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
Basis of preparation of financial statements
The financial statements have b￿n prepared in accordan￿ with the Charities SORP (FRS 102) -
Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Rewjrting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effecbve l January 2019), the Financial Reporting Stsndard applicable in
the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Company has eletted 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 l 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 otheNise stated in the relevant
accounting policy.
Going concern
The Trustees, are confident that the company will be able to maintain ongoing income streams for its
activities as they are tsking 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
prepardtion of the accounts continues to be appropriate.
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 perfomiance 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
estste. 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 cor)tir)ger)t
asset and disclosed if material.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to
a third paty, 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 acttvity. The costs of each
activity are made up of the total of dirett costs and shared costs, induding support costs involved in
undertaking each activity.
23
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
Direct costs attributable to a single activity are all(Kated directly to that activity. Shared costs which
contribute to more than one activity and support costs which are not attributsble to a single activity are
apportioned be￿een 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 trdding.
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 irrecover3ble VAT.
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 eX[￿rted
useful life, as follows:
Office equipment
Light aircTrft
over 3 years
over 10 years - depreciation starts once the aircTrft is fully built
Interest re￿1vable
Interest on funds held on deposit is included when receivable and the amount can L￿ measured reliably
by the CompanyR this is normally upon notification of the interest paid or payable by the institution with
whom the funds are dewsited.
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 impaimient. Investment gains and losses,
whether realised or unrealised, a￿ combined and presented as'Gains/(Losses) on investments, in the
ststement of financial activities. Air League Enterprise is exempt from audit under s479A.
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 g(KNJs 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 rdte 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.
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 amortlsed cost using the effective interest method.
2.10 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents the
24
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
amounts payable by the Company to the fund in respect of the year.
2.11 Fund accounting
General fvnds are unrestricted fvnds 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 Trustee5 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 pa￿CUlar purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restritted 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
Endowment Restricted Unrestricted
funds
funds
funds 2024 Total
2023
General donation
14,657
101.424
53.324
55,(X)O
87,212
11,975
13,161
101,869 155,100
113,399 178,824
66,485 136.676
55,000
37,500
35,650
Trust and foundations grants
Corporate donations
Department of Transport
Corporate subscriptions
224,405
112,348
336,753 543,750
2023 analysis
277,135
266,615
543,750
4 Investment income
Endowment Restricted Unrestricted
funds
funds
funds 2024 Total
2023
Listed investments
22,135
1.214
23,349
22,135
1,214
23,349
19,531
1,234
20,765
Bank interest
2023 analysis
20.765
20,765
25
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
5 Expenditure on raising funds
Endowment Restricted Unrestricted
funds
funds
funds 2024 Total
2023
Staff costs
52,737
63,964
8,690
71,993
197,384
52,737
48,398
63,964
49,704
8,690
23,819
71,993
65,841
197.384 187,762
Events costs
Marketing and communications
Support costs
2023 analys15
13,592
174,170
187,762
6 Expenditure on charitable activities
Endowment Restricted Unrestricted
funds
funds
funds 2024 Total
6.1 Analysis byfunds
2023
Aviation experiences (S2SI
Flying scholarships/bursary
Glidingsolo
I nspired Engineering
Veteran Programme
Innovators Challenge
85.682
140,243
10.500
39,905
91,953
12.029
125,587 138,792
242,837 229,052
22,529
19,273
20.798
5,803
4,181
10,641
6,680
4,048
10,728
10,641
243.105
147,935
401,681 417,899
2023 analysis
11.605
261.112
145.182
417,899
Direct
activities
Support
costs 2024 Total
6.2 Analysis by activities
Staff costs
2023
Aviation experiences {S2SI
Flying scholarships/bursary
Glidingsolo
I nspired Engineering
Veteran Programme
Innovators Challenge
57.828
72,855
7,991
38.541
133,170
10,500
29,218
36,812
4,038
125,587 138,792
242,837 229,052
22,529
19,273
20.798
5,803
4,181
3,805
1,923
10,728
142.479
187.211
71,991
401,681 417,899
2023 analysis
172.087
179.971
65,841
417,899
26
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
7 Analysis of support costs
Aviation
Flying Gliding Inspired Veteran Innovator
experience scholarship
Solo
En&
Prog. Challenge Fundraising
2024
Total
2023
Rent and rates
3,253
4,098
450
214
8,015
16,030 14,718
Insurance
2.424
3.054
335
160
5.974
11.947
9.708
Postage and stationary
IT maintenance, website
Recruitrnent
95
120
13
234
468
30
2,614
3,294
361
172
6,441
12,882 18,340
122
153
17
3C
18
Bank charges
Sundry expenses
Governance compliance
Professional fees
256
323
35
17
632
1.263
1.050
199
251
28
13
491
982
2,360
5.013
6.315
693
330
12.351
24.702
9,740
12,984
16.357 1.794
854
31.990
63.979 54.869
Other cost
2,258
2,847
312
149
5,565
11,131 20,849
29,218
36,812 4.038
1,923
71,993 143,984 131,682
2023 analys15
27.539
30.416 3.037
3.276
913
660
65,841 131,682
8 Independent examiner's remunerations
2024
2023
Independent examination fee
7,740
5,280
9 Staff costs
Group
2024
Group
2023
Charity
2024
Charity
2023
Gross salaries
165,888 201.727
12,446
16,586
1.883
2.172
15,000
195,217 220,485
165,888
12,446
1,883
15,000
195,217
201,727
16,586
2,172
Nl contribution
Employer pension
Redundancy
220,485
2024
2023
2024
2023
No.
No.
No.
No.
The average full time equivalent number of employees
27
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
One employee received emoluments in excess of £60.000 shown below
Group
2024
Group
2023
Charity
2024
Charity
2023
No.
No.
No.
No.
In the band £60,001- £70,000
In the band £ 80,C()1- £90,000
The remuneration of key management personnel during the year was £ 105.47412023: £117,352)
10 Trustees, remuneration and expenses Expense
During the year. no Trustees received any remuneration or other benefits {2023- Nil)
During the year ended 31 December 2024. no expenses were reimbursed or paid directly to trustees12023-
£Nil).
11 Tangible Fixed Assets
Group
Light
aircraft
Slingshot
Charity
Office
Light
Group equipment &
aircraft Charity
Total
website Slingshot
Total
Office
equipment
&website
Cost
At l January 2024
Additions
49,569
123,194 172,763
3,903
3.903
127,097 176,666
7,200
7,200
At 31 December 2024
49.569
7.200
7,200
Depreciation
At l January 2024
Provided duringyear
At 31 Dec 2024
47.160
2.023
47.160
2.023
7.200
7.200
49.183
49.183
7.200
7.200
Net bookvalue
At 31 Dec 2024
386
127,097 127,483
At 31 Dec 2023
2,409
123,194 125,603
28
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
12 Fixed assets investments
Listed
Listed
investments investments -
- Group
Charity
Cost or valuation
At l January 2024
Revaluations Gain
1,032,807 1,032,807
66,739
66,739
1150,000) 1150,0001
949,546
949,546
Fund drawn
At 31 December 2024
Net book value
As 31 December 2024
949,546
949,546
At 31 December 2023
1,032,807 1,032,807
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 number00102488, registered office at 4
Hamilton Place, London WIJ 7BQ. 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 2024 the
company turnover £10312023: £59,900), expenditure £9,723 {2023: £60,532) and loss £9,620 (2023:
loss £6321.
13 Debtors
Group
2024
Group
2023
Charity Charity
2024
2023
Trade debtors
7.290
27.465
41,1(X)
17,666
7.290 20,000
27.465 16,833
92,502 129,193
58,766 127,257 166,026
Prepayments and accrued Income
Amount owed to group undertakings
34,755
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
14 Creditors: Amounts fallingdue within One year
Group
2024
Group
2023
Charity Charity
2024
2023
Amount owed to group undertakings
Taxation and soci31 security
Other creditors
5.224
900
11,974
9(K)
3,855
6,582
Accrual and deferred income
11.620
33.991
51,735
9,205
28,393
50,472
11.620
9,205
33,991
27,328
49,466 43,115
Trade creditors
15 Statement of funds
Balance at
Jan I,
2024
Transfer Balance at
Investment between
Dec 31
gains
fund
2024
Income Expenditure
UNRESTRICTED GENERAL
Ola UR General Trust
417.516
45.946
135.258
439
1326,456)
19,725)
52,699
279,017
36,660
Olc UR General Enterprise
General fund
463,462
135,697
(336,181)
52,699
315,677
02 DESIGNATED
02b Battle of Britain
28.451
7.558
47.272
18,164)
20,287
7,558
46,297
02d MJ Marshal YIA
Luca5 Aerospace
Subtotal Designated
1975)
(9,139)
83,281
74,142
Total Unrestricted funds
546,743
135,697
(345,320)
52,699
389,819
03 ENDOWMENT
03a CA Barnes
54.626
205,967
14,930)
15,711)
2.943
11,097
52,639
211,353
03b Somers Scholarship
Tota103 ENDOWMENT
260.593
{10.641)
14.040
263,992
04 RESTRICTED
SOARINGTOSUCCESS
DFT 22 S2S
178
55.0(K)
(42,370)
12,808
15,000
Air CrewTrust
15,000
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
Millennium PointTrust
19.700
3.870
35.134
26.893
12,294)
12,127)
(15,191)
(23,700)
(85,682)
17,406
11,743
19,943
37,617
Aldenham Aviation
iO.OCMJ
BA 23 S2S
Boeing 23 S2S
34,424
ICX).775
99.424
114,517
SCHOLARSHIPS
Stelios Foundation
53,433
77.077
93.625
21.909
17.879
60,0(J)
(54,150)
16,413)
(25,085)
(12,237)
59,283
70,664
68,540
9,672
17,879
11,474
60,957
11,451
7,873
317,793
MacRobertTrust
SirA Marshall Scholarship
R Kronfeld Fund
ADFS Fund
Swire Trust
18.OCMJ
16,526)
(16,351)
13,518)
(15,963)
(140.243)
Cobham New
77.308
7.685
3,039
351.955
617 Squadron
Miscellaneous
7.284
20,797
106,081
GLIDING SOLO
Airline Prep
Boeing 23-24 GS
I1.0￿)
11,000
700
11.200
11.2(K)
(10,500)
(10,500)
11,000
11,700
VETERAN PROGRAMME
Boeing 23 VP
13.400
7.900
16,680)
14,620
Total 04 RESTRICTED
477,330
224,405
{243,105)
458,630
TOTAL FUNDS
1,284,666
360,102
(599.066)
66,739
1,112,441
Trustees set aside thesefunds to give Flying Scholarshipsto be spent within the year and will be reviewed annually.
Red Arrows- Atrust amountwhich is to be awarded only to a current air cadet.
Michael J Marshall Youth in Aviation- Donation from Sir Michael Marshall toyield some income to payfor lower level
items within Youth in aviation.
Battleof Britain-Amountfundraised from the Battle of Britain FighterAssociation to payfor scholarship.
LucasAerospace-Fund provided togive Flying Scholarships, in perpetuity
ENDOWMENTFUNDS:
CA Barnes- Adonation madewith gift aid to provide flyingscholarships in perpetuity.
Somers Engineering Scholarship Fund- A donation from the J N Somerswill Trust for aspiring aviation engineers.
Sponsors placement accommodation and travel.
31
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
RESTRICTED FUNDS: We have organised the restricted funds presentation 31iningwith our charitable activities that
made fund monitoringand donor reporting easier.
SOARING TOSUCCESS: These activities are funded bythe Department of Transport, Boeing, Aldenham Aviation and
also brought forward grants from the Air CrewTrust.
SCHOLARSHIPS
Stelios Foundation- Thisfund provides scholarships to anyone in the United Kingdom.
MacRobertTrust- This fund provides scholarshipsfrom the residents of Scotland.
Prince Phillip FlyingScholarship-To fund an annual scholarship of up to 30 hours.Trustees reviewed this historical
fund 2nd concluded th3t this should have been c13ssified as unrestricted gener31 fund thereforethe fund b31ance at
the yearwas transferred togeneral fund.
SirArthur Marshall FS- SirArthur Marshall of Cambridge made a donation in his name to provide a flying scholarship
annually.
R Kronfield Fund- Donation made to provide oneflying scholarship and one bursary.
ALDFS Fund- Flying scholarship and bursaries foryoung offenders.
Scaraman Fund- Flying scholarship and bursaries for current and past Air Cadets.
Swire Trust- Fund provides flying scholarships.
Morehouse and Cobham - Fund provides flyingscholarships.
617 Squadron- Fund provides flying scholarships.
GLIDING SOLO: These activities are funded bythe Department of Transport and Boeing.
INSPIRED ENGINEERING: These activities are funded by Dick Lovetts and Aston Martin for engineering3ctivities.
VETERAN PROGRAMME: Fund providesforactivities run byveterans..
INNOVATORS CHALLENGE: Activities are funded by Sustainable Aviation and Lockheed Martin.
32
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
Prior year 2023 Fund analysis
Balance
atJan I,
2023
Transfer Balance at
between
Dec31
fund
2023
Investment
losses
Income Expenditure
UNRESTRICTED
GENERAL
Ola UR General Trust
301,030
46.387
227,290
60,090
(257,596)
160.531)
(318,127)
39,808
106,984 417,516
45,946
Olc UR General Enterprise
General fund
347.417
287.380
39.808
106.984 463.462
02 DESIGNATED
023 Anonymous
02b Battle of Britain
96.085
36,527
196,0851
{8,0761
28,451
Red Arrow
02d MJ Marshal YIA
13.583
50,325
196,520
16,0251
(1,8281
(112,014)
7.558
47,272
83,281
02e Lucas Aerospace
Subtotal Designated
11,225)
(1.225)
Total Unrestricted funds
543,937
287,380
(319,352)
39,808
(5,030} 546,743
03 ENDOWMENT
03a CA Barnes
57.318
204,121
261,439
(5,051)
16.554)
(11,605)
2,359
8,400
10,759
54,626
205,967
260,593
03b Somers Scholarship
Tota103 ENDOWMENT
04 RESTRICTED
SOARINGTOSUCCESS
DFT21 S2S
217
(217)
(47.905)
DFT 22 $2S
10.583
15.(K)O
37.500
178
Air CrewTrust
15.000
19,700
3,870
Millennium PointTrust
19,700
20,(XIO
Aldenham Aviation
116.130)
15,086)
(20,410)
136,234)
(125.982)
Boeing 22 $25
BA 23 S2S
5.086
55,544
36,734
169,478
35,134
26,893
100,775
Boeing 23 S2S
26.393
57,279
SCHOLARSHI PS
Stelios Foundation
20,(J)O
85.813
60,CM)O
(26,567)
18.736)
53,433
77,077
MacRobertTrust
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
Prince Philip Scholarship
SirA Marshall Scholarship
R Kronfeld Fund
117.399
41,989
17.879
(6.913)
(23,774)
(20,080)
93,625
21,909
17,879
ADFS Fund
Swire Trust
18.(X)O
(10,863)
(2241
Morehouse
Cobham New
106.438
6,855
1.514
390,974
(29,130)
12,770)
15.119)
(127,039)
77.308
7,685
1131
3,039
(237) 351,955
617 Squadron
Miscellaneous
3,600
6,657
88,257
GLIDING SOLO
DFT21 GS
Airline prep
Boeing 23 GS
500
(625)
17,800)
(8.425)
125
8.(J)O
11,cx)o
11.5(X)
11.200
11,200
125
INSPIRED ENGINEERING
Dick Lovetts
8,353
18,958)
605
VETERAN PROGRAMME
Boeing 22 VP
Boeing 23 VP
8,QK)O
7,900
7.9LK)
(2,500)
(2,500)
13,400
13,400
SLINGSHOT
INNOVATORCHALLENGE
12.737)
(1,800)
4,537
Total 04 RESTRICTED
469,869
277,135
(274,704)
5,030 477,330
TOTAL FUNDS
1,275.245
564.515
(605.661)
50.567
1,284,666
34
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Air League Trust
NOTES TO THE FINANCIAL sfATEMENTS
for the year ended 31 December 2024
16 Analysis of net assets between funds
Endowment
funds
Restricted Unrestricted
funds
funds
2024 analysis
2024 Total
Fixed assets
263,992
458,630
354,407
87,147
151,7351
389,819
1,077,029
87.147
151,7351
1,112,441
Current assets
Creditor due within one year
263,992
458,630
Endowment
funds
Restricted Unrestricted
funds
funds
Prior year analysis
2023 Total
Fixed assets
260,593
477,330
420,487
176,728
150,4721
546,743
1,158,410
176.728
150,472)
1,284,666
Current assets
Creditor due within one year
260,593
477,330
17 Related party transartions
At the balance sheet date, the trust was owed a balance of £92.502 from Air League Enterprises Limited, a company
over which the trust has jointcontrol and significant influence. In 2023. £129.193 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 duringthe year amounted to£Nil12023: £8,000).
35
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