R8gÈster8d numb•r'. 07Q05997 Charity number: 1131977 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY (A Company Limited by Guarantee TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA C¢)mpany Llmltod by Guarantso) CONTENTS Page Reference and AdmlnSgtratlve Deta115 of the Charltable Company, Its Trusts•g and Advi50rs Tru8t•ès' Rèport Indopend•nt Audltorf$ Rèport on tho Flnan¢lal Stal8mgnts Con6011dat•d Stat•m•nt of Flnanclal Actlvltl•8 2-10 18 Consolldated Balance Sheet 17-18 Charitable Company Balance Sheet Consolldatsd Statom•nt of Ca$h Flows 19-20 21 Not0$ to tho Financial St4tomonts 22-59 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlted by Guaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 310ECEMBER 2028 Trusts•s Mr E Cottrell Lt Col LP8 Cradden MBE IReslgned 27 November 202S} MrMJDFGray Col (Retd) J D Handlord OBE Lt Gen IReldl Slr John Lorimer KCB DSO MBE, Chalr Brigadier (Retdl M P Lowe MBE MrRJEMoo AVM R T l Munro CB TD (Resioned 1 Juty 20251 Ll Gen IReldl JD Page CB OBE M L P Lillywhlle Mrs PF Worsley Tonks MrCAJack Maj Gen O J Kingsbury OBE MrJELGrand Mr G Q Winlor (appointed 31 July 20251 Mr B L Quaiendon lappoinled 31 July 20251 Company reglster•d numbèr 07005997 Charlty reglstered number 1131977 R•glst•r8d offlc8 RHQ Tha Parachute R8gim8nt Merville Barracks Circular Road South Colchester C02 7UT Ind•pgnd•nt audltor Sumer Audllco Llmlled Slalulory Audblor 820 The Crgscenl Colchestèr BusSness Park Colchester Essex C04 9YQ Soli¢itor¥ How8id Kennedy LLP 1 London Bridge London SE19BG Page 1 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company LlmStsd by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trusl888, who 8150 directors ol Ihe Charlly for the purp08es of the Companies Act 2006. present thelr raport with th6 finanual s18t8ments of thè Ch8rily fDr thÈ yèar Èndèd 31 D8c8mber 2025. Th8 Truste88 havo adopted the provisions ol Accounting and Reportlng by Charities.. Statement of Re¢omm&nded Practice ISORPI applicable lo charities preparing their ￿CountS in accordance with the Financial Reporting Standard applicable in the UK and Republlc Of Ireland IFRS 102) leffe¢iive 1 January 20191. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Oocurnent The Parachute Ragimenl And Alrborntr Forc¥$ Charfly Ss a Charitablè Company Llmlled by Guarantee ICLGI, as defined by the Companles Act 2006, incorporated on 1 S6ptgmb8r 2009 and r•gl$ler8d 8$ a Charlty INO. 113197n on 5 October 2009. The Company was established under a Memorandum ol AssorAation Idaled 1 Sgpl¢mb$r 2009 and amended on 10 July 20131. whl¢h established the objects and powers of th& charitable Company and Is governed under Ils Artlrle¥ of A&¥ociallon. In the event ol the Company beinq wound up, rnembers ara to contribute an amount not exceoding £5. In 2019. the Trusleo5 gf The Parachute Re9imenl Charfty IPRCI IficN 11319771 and 818ter charity the Alrborne For¢es S8curlty Fund IAFSF) IRCN 2066521, an unln¢orpor8led Irusl, respectively agroed lo rnerge to form The Parachute Regiment and Alrborne Forces Charity IPRAFCI. Iredlng as Support our Paras. effective as ol I January 2020. TrusteeB of the merged Charity were drawn from both Antecedants. A8 part of the m&rper, tha Artl¢lg8 wer& updated In Novefflber 2019 to r6ne¢l the wldenlng of Objects, to Include Airborne Forces bén•ficlarfes. Thls Raport A¢¢ounls Co￿r$ the flfth full year ol optrallon under the PRAFC name. StruGtur• The Charity whDIIy own3 Iradlng 3ubsldlarle8, ABP Relall Llmlled and PARAS'10 Llmiled las detailed below), and is also the sole memb$r ¢1 Airborno Assault Llrnlled IAALI, a reglslered charity (also as detailed below). The Charily and ils subsidlaries form The Pargchuta Reglmenl and Alrborn8 Forcès Charity Group, as reported In the Consolldalion components ol Ihls sel ol accounts. Tha Charity Is th• sole parent ol the58 tsyo trading sub8idiarle¥'. ABP Relall Llmlled, a cornpany registered in England and Walas {rgglsterad numb6r.' 060D90281. and PARAS'10 Llmitèd, 8 company reGi31ered in England and Wales Iregislered number.. 083681991, both of whlch trade In support ol the Charity. AAL Is a ¢harltable CLG, Incorporaled on 7 November 2008 and registered as a eharlly 111267761 on 18 November 2008. The Charity's Articles of Association were revi58d and updated by speci81 resolution on 6 February 2014. From 1 January 2014 the then Parachute Regiment Charity b8cam8 tha solè corporAtÉ mèmbgr of AAL also enlered into a renewable 3-year lundlng agreement to provlde )Inancial support. By vlrtue ol thls, AAL is now controllèd by th8 PRAFC. This 8gr8ern8nl wa8 successively renewed ¢)n 1 January of 2017, 2020 and 2023. Committees The Charity has flve ¢ommittees whlch meet separately and report ts the main Board of Trustees on key areas.. Finanee and Investment IFICI", Weware and Benevolence IWBCI,. Fundraising Marketing IFMCI,. Heritage and Commemoration5 IHCCI.. and Regimental Efficienoy IRECI. The REC was crèaled during 2021 to bètter oidin8le efforts on thi5 key charitable objective. These committees consist of a Trustee Chalr, other nominated Trustèes, èx8euliv8s and non-tru8t8e advisots. In 2023, il w88 decided that the remit ol the Governance and Succession Commillee IGSCI should be lulfllled and dischaiged by a slng18 Trustéè, nominated as GovÈmaThcÉ Lead, who would directly support the Chalrman, plus a nominated deputy rather than havln9 a full ¢ommltteg. Thi3 new arrangement has since proven to be effective and will endure. Page 2 THE PARACHUTE REGIMENT ANDAIRBORNE FORCES CHARITY IA Company Llmlted by Guarantsel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2025 The Board of Tru8lee5 has d¢l?galgd speriflo r¢5ponslbilltles lo commillee8. The FIC advise8 ¢n management of thè Ch8rlty'g Invèstments, as well as reviewing stratogic financial matter$, and makes ￿¢0MmendatIOnS to the Board. The WBC reviews and recommends welfare polcy and 5tral¢gi¢ development lo the Board and supports the Welfare Team by reviewing cases outside the Team's d8lÈoatèd Aulhorily. The FMC advises the Board and supports the CEO and Head of Fundraising & Comms In fundraising strategy and direction. The HCC 8dv15e the Board on slral¢gl¢ p¢llw with regard lo herllage and commemorative programmes, as well as thè 3nnual programme of funding. The REC advises on applications lor fund5 frDrn thè sèrving Règimant. Th& Governance Lead and hi5 deputy have delegated authority 10 5UPPOrt the Ch3im)an In idontifylng, approaching and pulling forward polenllal new Iruslees for the Board's con&ideratlon, as wall as supporting the Chairman and Board with oversight of Gov8rn8nce m8ttÈrs, Includlng Rlsk Assèssment. The Charftys Board of Trustees makes regular revlews of policy and its risk r8gistar 8nd participates actively in periodic reviews of governance b#sl pr8¢1Ico, uslng Industry-slandard tools endorsed by the mllilary charlly Iiad assoc4allon Conlederalion of Strvlce Organlsallons ICob5eol. The Board a180 works closely with Ihtr Senior Management Team to agr89 forward Strategy and, derived from this strategy, 8 rolllng buslness plan to a 5-year horizon. Tho Board of Trustsè$ The Tru$l¥es, who have seNed durfng the porlod and slnce the perlod end, are ¥el out on pagè 8. Ur￿•r its Articles, the Board comprises no mor8 than 15 Trustee8 al any one lirnè. Th8 fruslèes megt quarterty to dlscuss Issues relevant to the Charlty and Ils future developmènt and lo mak& such declsions as are requlred by il¥ Articles. To rèmain agile and responslve lo th8 need$ ol b8n8ficiaries, d8ciBions are also rnade 'oul of commillea, undar the tèrms of tha Artictes. Recrultment ond appolntment of new Trurytetrb The Truslèèi aim lo rètxuil nèw mémbers from bolh Reglrngn¢al, Airborne Forces artd eivlllan ba¢kground$ in ord&r lo ensure that tho Charlly ha$ a balanc* and dlversity of skills and knowledge. To Ihls end, thè Gov8rnane8 L¢od reviews crilerla. skill sets and candidates. New Trustees are encouraged lo famlllarfse Ihem$elve$ wSlh Charlty Comrnission guldance relaiing lo thelr rolè and an Indu¢tlon programma Is provided. External tralnlng courses are also made available. R•lat•d pa￿9• There have been no material Iransadions with other charities connected with Thè Parachute Reglment and Airborne Forcos in Ihe accounting period, other than th080 dis¢losed In the flnanclal 8lat8ments. Management Thè Sanlor Managamènt Tèam conslsls of tho Chiof Executlve, reporting lo the Chairmgn and Board, th8 Finan￿ Direclor, the Head of Fundra15ing & Communications and Iho Head of Welfare. A Five Year Business Plan 12025-291 ha8 been approved and is reviewed qu8rt8rly by the Board, whilst an underlwng Handbook contains all formal operating polieiÈs and procedures as guldanee for Trustee5. manage15 and Staff. In Bddilion, a Truslee-bespoke verslon of this handbook is currently being rewrlLlen. which will underpin Trustèè onboarding, indudion Iiaining. OBJECTIVES AND ACTIVITIES ObjocttV8s and Aims The oble¢ts of the Charity, as staled In Ils Articles, are lo further the following Charitab￿ purposes by such me&n$ as the Ttustees shall from lime to lime thlnk fil.. Th¢ promoli¢n and malntenance ol the heritage of The Parachute Regiment and Airkomè Forces., The promotion of the efficiency of The ParachutÈ RÈyiment'. The relièf of neéd. hardship and distress amongst past and present member8 of Thg Pgrach¢Jte Regiment and Alrborne Forces and their dependanls. Page 3 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARrrY IA Company Llmltsd by Guarantèe) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEM8ER 2026 Restri¢t¢d Funds Afghan R95trlctsd Fund IARFI After combat operations in Afgh8nist8n ce85ed al the gnd 012014, the Trustees of the then PRC agreed lo lake on Ihe funds and obligations ol form&r charity Tha Parachut8 Regiment Afghanistan Trust IPRATI as of 31 December 2014, with the full approval of the Charlty Comrnls$lon. The former Trust's fvnd5 are held in restricl&d fund 8dmini5traled by the Trustees against the original and amended oble¢t$, a$ d¢fingd by ils Trust Deed, namely.. The rellof of neod lor s)Idier$ ol The Parachute Regiment injured in Afghanistan. Th8 relief of need lor familie8 and dependanls ol the soldiers killeij or Inlured in Afghanlstsn. To promote and sustain th& memoriès of thè IoÈs Df I'fe and 88¢rffice8 made by the Reglment'8 soldiers In Afghanl$tan. To promote mllilary gfllclancy through adventure tr8Snlng and w*ifar& acllvllles lor thosè who served or aro about to $ervo In Afghanlstsn. Before Iransferring th8Sr funds Into the PRC, the PRAT Truste&s amended these objects lo extend the pèriod ol coverage lo app5y from 11 September 2001 onwards and to broaden thè SCDPè tsf appll¢ablllly beyL)nEI Afghanistan. to Include p8rsonng1 who sefygd on other posl.9111 conflicts and operallons. most notAbly, Iraq. Alrborne A$$Auh Normandy Trust IA4NTI As of 1 January 2016, th? Tru8le8s ol the then PRC agreed to take on Ihe fund$ and obll9alions of the lorffler Airborne Assault Nom)andy Trust, mglntalnlng du& rec¢gnrtion and remembrance ol the British AiTborno rola and P8r80nnel during the liberallon of France in the Second World War, whl¢h was dlssolved and whos8 remalnlng funds form a reslricled fund. Truste98 have oversiohl of conllnugd rglallon8hlp$ and dialogue with the clvic aulhorllle$ In Normandy. 8enevolencg and W•llar• Fund Tha 88nevolencg and Welfare Fund Is a restricted fund that r6celv9$ an glemenl of tha voluntary One Day's Pay Schèmè IODPSI ttonlributions from serving soldiers, which are restricted by military $18lulo. A number of other Raslrfcted Funds have been established 88 a result of fundra151ng ￿mPaIgn6 or1gg9Ci&S. Frdncls Fund The Fron¢i$ Fund, establlthed as a result ol a legacy, 15 a ro51rtcled fund that Is applicable for the welfare asslstance of dlsabled veterans and wldows. Public Beneflt Thè Trustèes have complled ￿th their duly under seclion 4111 of the Charitles Act 2011 with regard lo Charity Commlsslon guldan¢o on publlc benefit when reviewing objectives and aims, lulure planning and e51ablishing granl-making policios. Ea¢h of the above-menlioned obie¢l8 of the Charily demonstrato public bènelt: The rellef of need, hardship and distress for serving or former soldièrs of Thè P8r8chul8 Regim8nl and Airborne Forces. and their dependants, Is funded through ¢harilablè funds. where public funds are Insufficlenl or unavallablè. Tho promotion of the efficiency of The Parachute Regimènt assists the maintenance of mora18 and performance within B uniqua regiment of the British Army, which provides key operatlonal oulpul$ al D$fence and Nation41 level. The promotlon and rnalntenan￿ of the herflagg of The Parachute Reglment and Airborne Forc05 assists th8 edU￿tIon both of sèrvlng rnember5 of AiTborne Force5 and the general public in re5pecl of p851 conflicts and the essenlial role of the Armed For￿$, as well as remembraneè of thosè who have served their country. The Airborne Assault Museum promdes significant public benefit as an educational resource for th& public and $ervlng personnel of the Armed For￿S. Page 4 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Limited by Glrarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Grantm4klng Thè Charity makes grants to mogt th& welfare neod for individuals in need or dlslrg$$, rgqulrlng household or mobility assislance for dlsabilities, as a result of age, woundlng or injury., for those downgraded and discharged peisonn&l transitioning lo civili8n employment,. for nebd, hardship and financial distress both for indimduals and th811 dèpèndants, wlth partlcular èmphasis on tho mitigation ol risks of hornelessneg5 and deliiment lo vulnerable dependants. The effects ol se￿1￿ and, in particular active ope¥8lions, on mèntal héAIth and family relationships are also rnanifesl and therapy is funded to avoid cala8lr¢phic delerioralion. IndlvSdual wellarg 8nd b¢n¢volen¢e ¥pp#¢3llons are assessed against eligibility criteria under tha Charllls oblÉets by thè Wawaro Taam. Applications are rac8ived through serving Unll Welfare Offlcers or, for former soldier5 andlor their dependanls, through caseworker8 Irorn the Soldler5, SailoT5, Alrmèn and Families Assoc4alion ISSAFAI or the Roy85 Brittsh Legion IRBLI via 3 Case M8n8gemenl Syslern ICMSI. relaun¢héd in 2021 as MOSAIC. The Welfare Tearn reviews each case against the eliglbility criteria, then Idenllfi¢$ Ihg most appropriate fund Ireslrictedldesignaledlunreslricledl lor the case need and also $aeks to Sdentify where appropriate land 11 nece8saryl addllional sources ol charhable funding outside the Charity Might b8 sourced and ¢o¢rdinaled with. The Wellarè Team furthar monitors tho Outcoma of the case grant and any conlinulng nogd lor support. Whère ¢a$$ Ss unusual, novel, contentious or exceeds certain threshold levels, reference Is rnadè first tts tha WBC and then, if deemed necessary, the lull Board of Tru8lee8. When paralroop¢r$ ar& m¢dl¢ally dlscharged, the Welfare Team has a Bucce531ul track record ol funding trade Iralnlng and requallfficatlon courses as they prepare for their new Careers and then a$$lsllng them wilh obtaining the tools and equlprnent that they will need In their ¢hos¥n trade. Thls reselllemant actlvity all happen5 under the auspices of the PRAFC's now welPe8tablished C8reer Tr8nsitltsn Officer ICTOI, who Is a mentor and advisor for all our Regimèntal $ervlce leavars, hèlplng th&lr Inillal transition into a succ686ful clvillan career and than balng availab18 lor asslslance wSlh any future problems that may subsequently ari¥8. Annual Reglmenial Efflciency grants 10 our unl1S are mad* by Ihé Board ¥￿th advice from the REC lunder clear guidelines for Adventurous Trainlng, sports, unil welfare and family well-being). with dIS￿ellon delegated lo unit ommanding offie8rs and axpènditurè monitored through regular returns. Further unll and Indbvldual gronl appllcatSons are assessed on merlt, approved inllially by the Chief Executiv8 up lo specifiad dlscielionary levo15, and then by the REC and thereafter by the full Trustee Board, if nec85S3ry. For Herllage and Commemorations grant$, the planned forward programme of events and pilgrimagès lor the upcoming year is raviewfrd annually and scrulinised by the HCC prior to fomal approval by the lull Board. ACHIEVEMENT AND PERFORMANCE Charitablè Aetlvltle$ 2025 repre$enl¢d PRAFC'S sixth lull operallng year and the eleventh under the trading namÈ of Support Our Paras. The ChBrily conlinued to advance ils Objects and lo rnanage a diverse range of fundral$lng actlvilles to 5UPPOrt ih8m. Relief of Need, Hardship and Distrèss In 2025. thè Charity conlnued to èncounter a sustalned level of need Ihal now roU￿n￿lY ￿X¢￿E￿5 prg-COVID levels. Once again, this aligns wrth national econornic indicators and reflect3 strained and ov8rmatGhed public Serv1￿ prowsion. across all sectors, but particuLqrty healthearÈ. Durtng the year, the Charity expended £502k (including support costs of £155kl on the relief ol need, hard$hSp and disliess. which is the primary expenditure under ils Objects. Of this. £181k was from unresliicled funds. £200k from the Afghan Restricted Fvnd IARFI aniy £38k from the Franc65 Fund. Page S THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlted by Guaranteèl TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Hero are some Indlvidu81 examples and case-sludies ol how that ￿lief and support was provid8d in 2025.. Veteran A wa$ medically distharged due lo Complex PTSD sustained following numerous operallonal combat tours. He was Struggling with alcohol dependence, depiesslon and anxlely. He sell-isolaled al home and this put a strain on hi5 family. Th8 Charity was fir8t asked lo engage with him by his unit, whilst he was still servlng and slafl visited him al home multiple ts'mes during his transition to b8coming 8 Vèt8r8n. Thèy facilitated MOD-provided therapy and were Insliumenlal In getllng hlm recognised and 3een as a priority. Over lime, he engaged proactively with therapy and his mental health improved. Now also sober. he is currently employed by a local company in th6 delon¢g industry. Sèrving Officer B was di8gnos8d with 18rmlnal Sl8ge 4 cancer of multiple organs In 2025. He dld not requlre any financial assistance. but has been receiving extensive person81 support from thè Charitys staff, who have been lialslng wilh hls homg unlt. hls 8sslgn8d re¢¢v&ry unll and other mblllary ¢h8ri1ies to ensuts Ihai his needs are being met. The family ol a serving $oldler who wa$ klllgd on operatlons have been supportèd sinea hi8 death. B8r8av8m8nl Ih8rspy has been tscllilaled and funded by PRAFC and his mother has been inlroduc&d lo and met with other bereaved next of kln. PRAFC staff are supporting the 18mily thrttugh thè CoronÈCs Inquèst process. V8teran C was Ilving wSlh Parkln3on's dlseaEe. PRAFC helped lo fund a fevolutlonary Irealmanl ¢811gd'0g&p Brain Sllmulallon,, which ha$ $in¢e Improved h1$ qu8llly of life conslderably. Veteran D Is a 4uadripl8glc who has already recelved support frorn PRAFC over many years. He now required replacement ol hls old specialist wh8elchalr at a cost of £29k. ThÈ work and advocacy of PRAFC staff on h18 bohalf $¢¢ure(J Ihls fundlng for hlm through a Ihird party. Veteran X discharged in 2003, struggled with alcohol dep8ndency, which ulllmalaly resulted In homel$ssnoss and breakdown In marrlagelrelallonshlps. PRAFC provided temporary accornmodalion, proaclbvely Ilalsed with a number of extemal agencies, and ensured all welfare needs wera mot. The Wolfar8 tgarn linoludlng Ihg CTOI, local PRA an¢J tho ¢aseworker worke¢J l¢gelher lo provide lirnely, decisive 8UPPOrt. Th9 Bga¢ons Inillallvo ¢onllnued lo add value In 2025 by interacting wilh their local ¢omrnunitieB and organisations and ￿eating an improved awareness wilhln our beneflclary community of PRAFC and whal11 Can do for them. They work proactively to pre-empl and prevent last-minut8 funding requests with longer-lorn cBg0S. The support they offer doe$ not always result In fundlng requests, bul can be more holis140 In naluro, for 8xarnpl8 simply to alleviale loneliness.. Beacon 3 In￿lated and malntah)8d regular conl8¢1 whl¢h eslabllshed 8 rapport that alowed a veteran lo offload and dèeompress his mental anxiety due lo the delay ol his declslon to get an amputation, rather than endure constructive s¢Jrgery and constant pain. Bescon 17 eslablisheé regular contsd with, and continues lo make regular vls11s to, a veteran whols a full- time wh&elchair user and who had lost his job. 11 was 6Stablish8d that th8 V8teran n8?ded extensive works lo hls property. Fle glso greatly benefts from the regular ¢ontacl that a Beacon provides, enabling him to talk lo a rnililary peer and distract himself from the ￿nStant pain. The Beacon has also put hlm in touch wllh othef velerans Ilving nearby and with local support groups. Beacon 16 helped 8 severely 3vicidally indined veteran lo luin hi6 life around after leaving hospital and become a cornpletely new man,. driven, remotivated and determined to both remain sobèr and 991 employment. Also gelling back In Shape wblh gym member$hlp funded by the Charity. Page S THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Limited by Guarantegl TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Reglment41 Efflclency The Charitls support to th8 paratroopers ol tha serving Regiment ba¢kslops crillcal shortfalls In public fundlng provision, particularly as regards rnainlalning 'lhe 9ood thing5 in lile, foi our hard-working and dèdicated people. Our Efficiency 8pend also supports the ability lo Attract and recruil soldiers and officers of the right quality and then rÈinforees thalr subsequènt Indbvidual career progres$ion. thus enstjring that we secure, develop 8né ielain the very best leaders for our soldlers. Both unils and individuals are supported with fvnding lo gnabltr Adventurous Trainlng and sport5 endeavour8, whlch are thaiacler-bulldlng ?divSlles that loslei ImpDrtant professional qualilies such as initiative, comradeshlp and mollvallon. Thas8 èxperiences also con(ributa immeasurably to iMpro￿n9 the overall quallly ol 1Sfe lor the Regirnent's soldiers and maintaining their work-lrfe balanTr. In many ￿se3, s&rvlng personnel also use those opportunilles lo promot8 and raise fund3 for the Charity, yen8r8ting a virtuous funding circle of mutual repulallonal and flnandal benefit. The Regiment's teams and soldlers Gontinue lo compete in the lop echolons of Arrny and InleT-Servic8 sport. In 2025. The Regiment once more excelled in several key sport8, ralalnlng thelr tltles as Arrny Downhill SkiSng Charnplony and Arrny Boxing Champlons. In bobsleigh, the Army was 2025 Inter-services Tèam Champions, with PARA soldiars as 5 of Ihe 8 Army Tagm. as individuals within the Inler-Servi¢e6 and Amiy 2-Man Champion crews, plus an all-PARA crew represenllng Team GB on the Europ8 Clrcull In both Two & Ftsur-MAn avents and an indfvldual repre8enllng Team GB on the Wortd Clrcuil. Al grass r¢ol$ lev¥l, sports and clubs ianglng from 'warrior fitness, and kllesurfing lo clay piGeon shooting and drone-raolng wer@ nurtured withln tho unSls', all such activilieB provided valuable r$¢r¢allonal enjoyment. whilst often also developlng profe55lonally relevant skills and ablllll&$. In a slmllai ve1n, fundlng of baltlefield 8ludie5, which enables serving personnel 10 81udy andloi vi5tt the sit*s of past operations. especially those in whlch the Reyimènl fought and somèllmes alongslde veterans of Ihose conflicts, ar? hugely important In tèrms of prolesslonal education. Examples of such sludles Ihls year of which aspects were supported by Ihg Chorily include studies ol the Regiment's pa81 campalgns in F8lkland13land8 and Sierra Leone. Herliago & Comm•moratlon Th8 AAL'Airbom8 Ass8uh' Mus8um is locAled within th8 Imp&rlal War Museurn's Duxlord sile. 2025 ma1nt8in8d momentum In the busy programJne of vlslts belng organised by a surKg58ion of serving PARA and Airborng units, veterans, groups. affiliated cadet conlingenls and wider sUPPOrtèrs. Thè Mus•um's oulreach programrne continues 10 Strongly support PPAFC Jt all key Regim&nl81 and Charity gv$nls. 2025 also saw the Museu su¢¢e$sfully ¢onducl ¥ lull audll ol all Ils artefacts and archives in preparation for their r88ccr8ditation by Arts Coun¢il England. g major undertBking. The Charily supports Regirnenlal Remembrance through tho rn8int8nance of memorials. primarily al the National Memorial Arborelurn INMAI, where an gnnual 8UTnrn8r $8rvieè Is hèld, and with an annual Service ol Règimental RèmÉmbr8nce In Novèmber at St Lawrence Jewry. the Reglmenta15y affillated church in the Cily of London. Thtrs$ events a￿ also an important part ¢f our ongoing support lo the farnilies of our fallen. Support 15 a150 provided for Regimental cornrnemorations held 8nnu811y overseas. both in Nc*miandy lor D Day and in the Netherlands for the Ballle ol Arnhem. Veletans of these c8mpaigns can slill apply lor a grant lo make pilgrirnage lo the bsttlègrounds on which thèy once fought, but sadly there are almost none now surviving who 8rè still wèll ènough to make thosè trips. These flagship commemorative activities are also key in rnaintaining the wider public profile and reputation of both The Parachute Regiment 8nd Airborn8 Forcès. In terms of more recent conflicts and operations, 2025 saw us commemorate the 25th annlvèrsary of the Regiment's intervention in Sierra Leone, including the hostage rescue known as Op BARRAS and support of a Regimenlally-sponsored project lo produce an aulhoritslive book which ie¢otds the extensive service of the Regiment in Afghanistan, spanning th8 twenty ye815 of UK'S rni1I18ry involvemènt Ihero b8￿een 2001 and 2021. Page 7 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlted by Guarantoel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Supplementing the care and travel costs ol oui R6gimènt81 m8scol8, the Sh81t8nd poni85 'Pega8us' and 'BnJneval'. conlinu?s 11) be another key aspect ol the Charity's widar supporting Hèrltage and CommemoratiV8 effort. again with much b6nèfit in tèrms ol public 8ngag&menl and awareness. The Charity also fo8ters links be￿een the servlng R8glmenl and Alrborne Forces and the wider retired ¢ommunily. through the continued ￿ndIng of the publication of the annual'Pegasus Journal,. FINANCIAL REVIEW FlnAnclal P&rformon¢•- Group The Group's income in 2025 was £1.em. (down from £2.Om in 20241. 2025 88w a fall In donallons trom £299k to £278k. Addilj'onally. legacy income also fell year on year fiom £388k lo £114k in 2025. Inveslmttnt income redu¢ed to £404k in 20251£414k in 20241. Within the overall Group incotne figure 15 £303k ol sales revenue by the subsidiary ABP Relall Ltd agalnsl whlch are sel £276k of cosls. Subsidiary PARAS'10 Limited accountèd for a further £60k income. offset by £38k of costs. Donaled Services of £36k represent the provision of employ8e $oNlces lo the group by the Moo. Charitable activity expenditure for thè yèar decr88sed by £31 k lo £1.14m comparèd lo 2024. The Group's deficit for Ihe year was £113k 12024.. £206k surplus). This increased to a deflcil of £738k aftèr unreallsed investment losses of £824k12024'. surplus of £480k 8ft&r unre¥ll$od Inveslm8nl galns of £274kl, As of 31 December 2025, the Group caThled forward total funds of £14.Sm12024'. £15.3ml. Flnancl41 P•rforrnanc•- Subsbdlarl•8 Alrbornè Assault Limllgd rnad? a defl¢lt of £84k12024- £17kl. Income d6cr8a$$d by £39k. Overall expendlture increased by £8k. ABP Retail Limlled IABPI made a conlrlbution from retall merchandlse $81os of £27k12024.. £40kl pard under GSft Aid lo Its charitable Parènt. Turnover decreased by £95k and cost of salas d8c18aS8d by £63k y8ar on year. PARAS'10 Llmlted made a contribullon to Its parant undar Gift Aid of £22k12024,' £25kl. Prln¢ipal Funding Sour¢g8 As well as Inveslm6nt In¢omg, the Charity has dlverse votunlary income streams.. the One Day's Pay Scheme IODPSI lor Se￿Ing members ol the Reglment.. 9ranls and donations by private individuals, charitabl& bodies lin¢luding branches of the Parachute Reglmental Agsocralion}, trusts, foundations and corporations., legacies., and lund$ ral8eiJ from activltles and events organised by third-party supporlèrs or by th8 Charity itself. Fundrals5ng Controls All fundraising for voluntary donations is managed by a cèll ol two Èrnployees wilhin the Charity, including the CEO. and rèlies heavily on personal initiatives by supporters withln the seNng ané Telire¢J community, a8 well as the general publ¢¢. The Charity organises a number of ils own fundraising events or 5UPPOrts thiid-patty event organisers. No professional fundiaislng organisallon, 8gen¢y or e¢mmercial participator has been or will be employed, as a matlw of current policy. Th& Charity is registèrgd with th& Fundrai8ing Regulator and conforms to ils Code of Standards. It also compliès with guidelings published by the Charlty Commission and the Institute of Fundraising. The Charily monilors fundraising on its behalf by altendznce at events, or whère public nollections are being made, by identity checks on ctsllÈetor$, is8uing clear guidelines on practices and instructions for rernilling funds, and issulng Igllers and badges ol Identificatlon wlth contact details for the Charity- Records are maintained lor all colledors, induding all fundraising aids and matèrials issued and remiltancgs are monilofed. A Complaints Policy agreed by thè TNslee5 15 published and publicly accessible on the Charily web￿le. No complaints were received in 2025. Page 8 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 The Charity is 8lso r8gistÈr8d with th8 Inforrnat￿rt Ctsmmissioners Office IICOI and conforms wilh the Data Prolecllon Act 1998 and Ihg G?neral Data Prol8cUon Regulallons IGOPRI 2018. Investment and Risk Policy All investments funds have ￿en enlrusled Ihroughoul 2025 lo a Slngla mgna9er. CCLA (Churches, Charities 8nd Local Aulhorilie5} Inveslmenl Managemenl Limited. Following a review of performan¢è and a thorough s8lecb.on process. lh8 Charily hav8 subsgquenlty moved their investment holdings lo JM Finn & Co. Ltd durlng 2026. The Investment porttollo Is managed lo malnlaln and grow the true vahje ol the Inveslmenl8 and generate Income which Is allocated to the restrtcted or unrestricted funds according to its 80urce. Thi5 slrate9y do8s lead to greater year-on year-volatilily in fund values, which is renected in thé accounts, but should generate a more favourable return over the long run. Peri¢dlc as$os$menl$ ar¢ madg by the FIC as lo the availability of cash from op?iallng adivitoes for fvrther long-lerTll investment. naling that rèstrictèd and dfrsignated funds all need liquidity to meet demand in Ihglr resp¢¢tive arga$. Investment Performance The value ol th& Charity's Inve$lm¥nls fell dutlng 2025 followlng Ihelr partlal recovery durlng 2024 wllh unr¢8llsed losses of £624k. The Charity recalved investment incorne of £404k12024.' £414kl. Al the end of 2025. the totsl vAIu6 of the Investments held by the charity Blood at £12.42m {2024.. £13.04ml. ReJerveB Pollcy The Charity Is ¢ommltt$d lo malnlalnlng a level ol reserves sufficiènt to rneei ongolng Ilablllliès, InttludlThJ obligallons lo beneflclarles, lo rnaintaln service delivery and lo protect the long.lerrn futurè ol Its operations In the face of uncertainlieB and fluclualions in the voluntsry lundra15ing environment. As of 31 December 2025, the PRAFC Group's t¢lal ￿8¥rveS w¢re £14.Sm 12024.. £15.3ml, of which £4.3m is restrfcled or designated for 4pecifi¢ charitabl& purp0885, and £10.2ffl urbreslriclèd for mèètlng the obj8cls as the Trustees See fil. 11 is the vlaw of th• Truslegs that the r8sarves held are ieasonable and requlred 10 3UPPDrt the ongolng and long-l¢rm welfare n8ed5 of our ￿ntrI￿arleS, as wèll as fvndlng of roglrnonlal afflclèncy, h•rftaga and comm8rnoratlv activity. FUTURE PLANS In Ih8se uncertain and unpredictable economSc time8, the Charity now looks lo malntaln at least ils current levels of di5bvr3ements lo its benefi¢iarie5 right 8cr05s th8 lull rangé of charitable aims and objectives. It will do so, whilst optimising 118 inlem81 éfficien¢y as an ¢rgAnls8tlon, as well a$ seeking to be 'reBilienl by d8ei9n' foi th future. Our Flve-year Buslness Plan1202&291. based upon detailed and rigorous 8lralogl¢ analysls, is our lodestone in doing 50. Beller definlng our eligible beneficiary base and foreoasting Its dynamlcs will also a5S151 in planning for the future, 35 will a pro8¢tive effort lo prodicl, idenlrfy. dèffinè and quontify sociells emerging 'new needs,, Èspècially in thè h•allhc8re sphere. EVENTS SINCE THE END OF THE YEAR Information relating lo even18 slnce the end of tho year Is gIv9n in the notes to the financial stalemenls. Page 9 THE PARACHUTE REQIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlted by Guaranteel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trvst60s {who are also the directors of Ihe Charity lor the purp0585 of company 13wl awe responsible for preparlng the Report of the Trustees and the financial slalements in accordancè with Applicablè law and Unrtèd Kingdom Accounting Standaids IUnil&d Klngdom Generally Accepted Accounting Practic81. Cornp8ny18w requlre8 the Trustees lo prepare financial stalam8nt$ for ea¢h financial year which give e true and fair viw of the state ol 8ffair$ DI the charilable cornpany and of the incomlng resour¢¢$ and appll¢alion of resources, inctuding the Income 8nd expendllur8 of thè charitable company for that period. In so doing. the Tru81ees are required to 8elecl suitable accounting polScle$ and Ihen apply them Conslslently; ObSe￿e the methods and principlès in the Charity SORP., m8ke judgements and eslimalès Ihal are reasonable and prudent.. slala whether applicable UK Accounllng Stsndafds {FRS 1021 hav6 beèn followed. sublgct lo any malgilal dopartures dl$closed and explained In the flnancial slalemonls., prepare the financlal statements on the golng ¢on¢ern basss unles8 1118 Inapproprfal8 lo pr8surne Ihal the charilAblÈ eornpany wlll continue in businesB. Th8 Trustees are r6spon8lbl8 for kgeplng proper a¢¢ounling record8 which dlsclos• wllh raasonablo accuracy at any Ilme the fjnancial posllion ol the charilAblè cornpany and la enable them lo ensure that the financlal sl8lemonl8 wrnply wllh thè Companies Act 2006. They are also r6sponslble for $8fÉguArding the a85218 of the charllabl8 company and hence lor laklng r??son?ble steps for the prevanllon and delodlon of fraud and other DISCLOSURE OF INFORMATION TO AUDITOR In so lar as th8 Trusl88s ar8 awara.. there Is no relevant audit Informallon of whlch the ¢harilable companls auditors ar8 unaware.. and the Irvelee8 have taken all steps that they ought lo have taken to rnak¢ Ih¢m$elves aware of 8ny relevant audit information and lo e$labli$h that the audSlor$ are aware of Ihal information. AUDITOR The audSlor. Sumer Audltco Limilad, has indicalad their wlllingness lo tonllnue In offlc8. Tha d6slgnated Trustees wlll propose a mollon reappoSntlng the audltor at # rneeling of the TruBlees. ACCOUNTING EXEMPTIDNS In preparing this report, the Trustees have taken advantsg& of th* small companle$ exemption5 provided by sectim 415A oflhe Companies 2006. by order o the members of the boord of Trustees and signed on Ihelr behall by.. Sir John L Ch8lr of Trustees SO MBE Dale.. COL6 Page1D THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY Oplnlon Wè have 8udlted thè financial ststements of The Parachute Regiment and Alrbome For¢gs Charlly (the 'parent charitable companll and its subsidiarie5 Ithe'group'l for the year ended 310ecernber 2025 which comprise the Consolidated Stalerngnl of Financl81 Actlvilies, the Con$olidaled 8alanc* Sheat. the Charilable Company Bal8ncE Shèèt, IhÈ Con501id8tèd Stat8mÈnl ol Cash Flows and the related note5, indudlng a sutnrnary of Significant accounting policies. The financial reporting framework that has been 8ppli8d in their préparation is appllcable law and United Kingdom Accounting Standards, including Flnaneial Raporting Standard 102 'The Financial Reporting Standard appI￿able in the UK and Rèpublic ol Iieland, Iunited Ks'ngdom Gerserally Accepted A¢¢ounllng Praoll¢el. In t>ur oplnion the ffin8n¢lal sl8lemenl$'. give a trut #nd fair vl8w ol the slate ol the Group'$ 8nd of thè parènl charilable companls affairs as al 31 December 2025 and of th8 Group's incoming r83ovrces and appllcalloh of ftsources,1n¢lud5ng Ils Income and expenditure lor th& year Ihtn anded., have been properly prepared in accordance with Unlled Kingdom Gener8lly A¢pRpled A0￿UntIng Pr8clice,' and have been prepared In accordance with the requirements ol the Compan189 Acl 2008 and Ihg Chari1508 Act2011. Ba818 for oplnlon We condvcled cur audll In 8ccord8nc8 with Int8mÈllonal Standards on Audlting (UK) IISA8 IUK)18nd gppllcablo law. Our responsSbllllies undor tho$¢ Slandards are further described in the Audilorfs responsibilitie5 lor thè audit of Ihe financial statements seclion ol our report. We ar8 independent of tha Gioup In accordance wilh the ethical requiremenls that are relevanl to our audit of the financial slalemenl$ In the Unlled Kingdom, including the Financial Reporilrtg Council's Elhlcal Standard, and we hgv¢ fU￿]Ied our other elhical responsibili11g5 in 8ccordanc& with thèsa raquiraments. Wg bellavg that the audlt evidence we have oblalned 1$ sufflcl8nl and approprtat• lo provld• a basls for our oplnlon. cont￿910n8 r•latlng to golng conc•rn In audlllng th¢ flnan¢l81 $latemenl$, we have concluded that the Truslee8' U8& ol th& golng concèrn basss of accounting in Ihe preparation of the financ4al slalemenls Is appropri818. Based on the work we have perForrned. we have not identified any malèrlal uncèrtalntlas relating to events or conditions that, individually OT colleclively, may cast significant doubl on Ihe Group's or the parent charitable companls ability lo continue as a going concern lor a perfod ol al leasl ￿e1Ve months Irorn when the financi81 lalerngnl¥ arg 8ulhori¥gd for i¥8uè. Our r8¥pon5ibilili88 3nd the iespon5ibililies of Ihe Tiustaas with respect lo going concern a￿ described In th& rèl8v8nt sacbons of Ihis report. Pagè11 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlted by Guarnnteel INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY ICONTINUEDI Other Infomiatlon The other Informallon ¢ompri$es th• Informallon Included in th& Annual Report oth8r Ihan thè financlal statements and our Auditor's Report Iheraon. The TtU51ee3 are responsible for the other information contained wlthln the Annual Report. Our opinion on th8 finanoial slat8m8nls does not cov8r th8 other information and, except ta Ihe extent olheTwise explicitly slated in our iepom, we do not ¢xprg$s any form of assur8nce concl(t5ion thereon. Our r6sponsibility is tt> rèad the other infomialion and, in doing so, consider whether the olher Informallon Ss materially inconslst6nt with Ihg financial $18lemenls or our knowledg8 obtained in the course ol Ihe audit, or otherwise appears lo be maler5ally misstated. 11 we idenllfy such tn3lerial inconsislencie5 or apparent malerlal mlsslalemenls, we are required to determine whether Ihis gives risè lo a materi81 mi¥¥lal8menl the financlal statements themselves. 11, based on th¢ work wa have performed, we concludo that th8re Is e Malerlal rnisslalement of this other inlormalion. we ar8 requlr8d lo report that fact. We have nglhlng to report In Ihl$ r•g8rd. Oplnlon on other matteY8 pr08¢rfb•d by th? Comp8nl•$ Art 2006 In our o￿n￿n, based on the work undertaken In the Course of the audit.. the Informallon 9Sven Sn the Trustees, Report for the flnanclal year for which lh8 finandal statements Bre pr&paigd Is wn¥i¥lenl wllh the financial slalements. the Trustees, Report has beèn prap8rad in accordance wilh applicable legal requirements. Mattw8 on whleh w• ar• rnqulrnd to report by exceptlon In the light of our knowledge and und•rstsndlng of thè eh8rilable company and 118 environment oblained Sn the ourse of Ihe audit, we have not Identlfied matgrlal rnlsslalernenl$ in the Trustees. Report. Wg have nolhlng lo report In respect of the follovAng mallar$ In rglafjon lo whlch Companiès Act 2006 r8quires u$ lo ￿port lo you If, in our opinion.. Ihè parent charitable company hos not kept adequate and $uffi¢ienl axounllng records, tsr retums adequate for our audll have not been recelved from bran¢hè5 not visited by vs.. the parent chaiilable cornpany financlal statements ale not In agreemenl whth the att¢unling records and r8lurns', or Certain disclosures of Tru8lees' remuneratlon speciffed by law ar• not madè; or we have not received all the inftsitnotion an¢J explan8lions we require for our audit., or the Trustees were not enlrtled lo prepare the financial slatemenls in accordan￿ with lh¢ srnall ¢omp8nie8 regirne and lake advantage of the small oompanle$' exemptions in preparing Ihe Tru51ees' Report and from tha rgquiremant to praparè a Strydlegic R£port. PagE 12 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlled by Guaranteel INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY ICONTINUEDI ReBponslbSlltles of Iru¥tees As explained more fvlly In the Trustees. Responsibililies Sl8lemenl, the Tru$le88 Iwho 8r8 also tho directors of th8 charitablè eompany for thè purptt58s of company lawl arè ièsponsibl8 for the preparation of the financial stal8m6nts and for belng satisfl$d that Ihgy gSve a true and falr view, and lor such internal control as the Trustees determlne 16 ne￿$sary lo enable Ihe preparation oi financial slalemen15 that are free from maleri&l misstaternenl, whether due to fraud or error. In preparing the financial slaternents. Ihe Trustees are responsiblè for assesslng tho Group's and the parent charltsble company'8 ablllty lo continu? as a golng concarn. dlscloslng, as applicable, matters related to going concèrn and using the going conctin basis of aceounling unl&ss the Truste&s either intend to liquidate Ihe Group or the parent charitable company orlo Cease operations, or have no realSstSc allernallve bul lo tjo 30. Page 13 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PARACHUTE REGIMENT ANO AIRBORNE FORCES CHARITY ICONTINUEDI Auditor'8 r88ponJlblllVg8 for the audlt of the flnanclal statements Our ¢bje¢lives are lo obtain re380nable assurance about whether the financial statements as a whole ore free from malerfal misslatem¢nl, whelhor due lo Iraud or error, and lo issua an Auditor's Report Ihat indudes our opinion. Reasonable assu¥ance is a high level of assurance, bul 15 not a guarantee that an audit ￿ndUcted In accordance with ISAS IUKI will always detect a maleiial Misslalemènt when it exists. Misstatements can ai15e frorn fraud or ewror and ar8 considered material il, individually or in the aggregate. they Could reasonabty be expeelgd to Influèneè thè économic derJslon8 of users lakgn on th9 basis of these flnandal 8latem8nls. 1rr8gulariliè$. including fraud. 8re inst8ncès of non-wmpll8ncè wllh law8 and reou1811on8. Vve deslgn procedures in line with our responsibililles, oulllned above, to det&cl matérlal mlsslalem8nls In r&spe¢l ol irre9ularilies, including fraud. The extant lo which our procedures are capable of detecllng Irregularilles. includlng fraud Is dolailed b¥low'. Wa idenllfied arèas ol laws and regulAtions that could raasonably b8 8XP£Cted lo hgvo a malgrial eff?ct on the rinancial slalemènls Irom our general cofflrnerclal and sector experlence, through dlscussion with the trust88S 188 r?qulred by audillng slandard81, In8pecllon ol the Charllable Company's regulatory and legal correspondence end dlscussed wlth thè IruslèÈg the ptslicie$ and procedures regardlng compllance with laws and regulations. We communlcaled Identified laws and regulations throughout our team and remalned alert 10 8ny indications of noncornpliance throughout the audlt. Th8 polenllal 8ffect ol thes8 laws ond regulallons on tho ffinanclal Slalgmgnls vade$ consld*r)bly. Firstly. lh• Group and Charftable CompRny Is sublecl lo Iwis and regulBlions that dirèrtly Bffed thè fflnan¢lal slalemenls including financial reportlng legislatlon and taxation legislallon and w& assessad Iho exl8nl ol cofflplianc8 with Ih88e laws and regulation3 as part ol our PTOC8dures on the related financi81 slalemenl items. Secondly, the Group and Charltable Company Is sublecl to mgny olh6r laws ond r&9ulallong where the consequences of non-cornpllanGe could hava a meterial effèct on amounts or disclosures In the In8nclal 818lemenl$, for Inslanee through the imposition of flnes or Iltigatlon. We Idenlmgd th8 followlng areas as thos8 most likely to hav8 such an eff9cI.. heallh and saloly rogulaligns, gmploymenl law and GDPR. Auditing standards limil the requlied audit procedures to Id6nlify non-compllanc8 wllh thèsa laws 8nd règv181ions lo ènquÈry of Ihg Trustees and other management and inspection of regulatory and legal corr8spondence. if any. Audll pro¢edur$s undertaken In response lo the polenli81 rlsks re131ing lo irregularities (which include fraud and non-compliance with laws and r&gulationgI comprlseoretum. There were no dlspo$als or ImpaSrm&nt of hèritagt assets in the year or the previous four y8ar8. Alrboine As$8uII Limited holds a large numb6r of objects in connectlon wllh the hi810ry ol Airborne Forces and cons15t5 of Ihg Mu8eum'8 collections both on and off display. They include medals, Lmiforms. equipm*nl. vehl¢l&s. an extensive archive of docum8nls and lrnagary and olhar artèfacts. The objects are consldered herllage a8s8ts under the Slalemenl of Recommendad Pr8Ctic8 tenn¥ a3 they are tangible assets of hi61oric or artistlc Importsnco,. ¢onsequenlly, no value is placed on elthgr th9 asset orlhe (JonalSon lor accounting purposes. Ther8 are four maln èlèmènts to IhÈ ¢ollecllon'. the dlsplay In Duxlord. the physlcal ar¢hlve al Duxford, the d￿lt81 archive PARAData, and the ra8¢￿& ¢olle¢lion held separately al Bassingbourn. The public are ablè Ic 8cce$s the rnuseum in Duxford when the site Is opèn during the weèk. thè archive by appolnlrn@nt and can view PARAData onllne. Heritage asset5 from the reserve collacllon can be reldevgd by museum staff for prearranoad viewing al Duxlorr the ygar 11,2321 849 Annual iunning co$ts arg 8$ follows.. 202S 2024 Publicallon costs Insuian¢o 88d debt expense 3,521 906 1.600 6,229 900 8,027 7.129 Page 58 THE PARACHUTE REGIMENT AND AIRBORNE FORCES CHARITY IA Company Llmlt*d by Guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 31. Penslon commltments The group operaley a conlrfbulion penslon 5cherne. The assets of the scheme are held separately from those of the group in an independ8n1￿ administ&i6d lund. Thè p6nsion cost charge represents ¢ontributions payable by Ihe group to th8 fund and amounled lo £27,63912024 . £23,892). £1,703 {2024.' £1.3501 was payable to the fund al the balance sheet dale and is included in cr8dllors. 32. Rèlated party eommltm•nts Prior lo 31 0?cember 202S, PRAFC, th& paienl. h98 a9re¢d lo piovldè gr8nt funding to AAL, the subsidI8ry, for a pèriod ttf 3 ￿ar$. Th8 tolxl fvnding payabl8 In that period is £212.698, with £69,500 faling wlthln the 12 months following the balance sheet date. 33. Oporatlng I•A$O ¢ommltm¢nts The Group and the Charitable Company had no commilm6nls under non.can¢ellable op8raling188$8s 81 31 December 2025. 34. R•l8tod PAty trAn•aetlon8 The Charitable Company has taken advantage ol exemption, under Ihe terms af FRS 102 'The FinancSal Reportbng Standard applicable in the UK and Repub1I¢ ol Ireland,. not lo disclose related party transactlons wlth11s subsidiary undertaklngs, as they are wholly owned subsidlarles. Duwlng th8 year there were no related party Iran3aclions olher than the Trusleg8' gxpense8 dlsclosed in Note 15 8bove. 35. Controlllng party The Charileble Company Is control￿d by the Tru$lae$. Page 59