Charlty numb•r 1132398 Royal Alr Forc• Brlzo Norton Junlor.Rank• W•lfarn Fund Annual R•port and Unaudlted Flnanclal Slat•m•nts lor tho y•ar •nd•d 29th Fèbruary 2024 Wonn To•1)d Chartgr•d Accountants Oxford
Royal Alr Forc• Brfzo Norton Junlor Rank8 W•lfar• Fund Tho TnMtw ofllK• Charlty Gp Capt Clalro Hazel ¢YGrady Prfnclpal Addrnm: Royal Alr F(Yce Brlze Norton Junlor Ranks Welfarn Fund Carterton Oxfordshlrn OX18 3LX
Royal Alr For¢0 Brlz• Norton Junlor Ranks W•lfar• Fund Flnanclal Slat•mants lor th• year •ndod 29th F•bruary 2024 Tablg of Cont•nts Report of the Trustees Indepandent Examlnefs Rewi Statement of Flnancial Acttv115es Balance Sheet Cash Flow Statoment Notes to the Flnanclal Statn 8-13
, Royal Alr Force Brfz• Norton Junlor Rank• Wolfarn Fund Report of tho Tru¥t•o8 for th• yoar •nd•d 29th F•bnwry 2024 The Trustees pr888nt thelr report and the finandal 8tstoments for the year ended 29th February 2024. The Trustees have adoptèd Ihe provlslons of the Statement of Recommended Practlce (SORP) 'Accountlng and Reporting by Charllies" (FRS102) In proparlng the annual report and finandal statsnients of the Charity. ObJocllv•• and of th• Charlty 'Tho ob1 of tha Junior Ranks Welfare Fund is tho wThIlOn, provlsion and supwi of soclal. sporting and olher facllStles for thp milltary èlfidenw and Well4Ing of Sorvkamgn and Serylc6wom8n. T1 objects also extern1 to maklng grants to any aclivity vthlch. In tha opinlon of Iho Tntstees, b In fvrlheranca ol tho objectives of Ihe charlty. En(x)urage splrit de corps by enabllng SeNlce Members to mlx logether, so 8$ to help keep servlca tradlilons allve and encourage the well-being of the Community. Encouraglng. supportirig, and facllltallng th8 development of sport to ral80 Standaffls and to promote the Ilnk to fitness. teamwork arKI personal development through sportlng actNIty and opportunSties. Suppothg fadlltbs and capllal prolects to enable th8 best posslble provisSon for tho RAF Brfze Norton communty, whlch Includes MOD dvilians. The maln aGtlvltie8 are: The provklon of grants to pernonnel of the rank of Corporal of below Qunlor ranks) lo asslst wlth the costs assoclaw wlth adventurous tralnlng or sporting adlvlt18S. SubsldTslng the cost of sod81 adlvluas organlsed by or (m behalf ofJuni(K ranks. Grants towards the provlslon of sportlng and Ylfare grants towards tha provl8lon of equlpment c fadlllie$ vthbch wlll enhance the worklng or soclal envlronment of lh8 Junlor ranks at Royal Alr Force Briza Norton. 1) 2) 3) Publ1¢ ben•ffl statsmrt Thè TNstees ¢onfirn that they hav6 ratsd to the gUIdan on pubfic benefft when reviewing the ch8rfty'S alms and objectlves. and In Implementlng arKI plannlng cuThent and future actlvilies. Royal Force Brlze Norton Junlor Ronk5 Walfare Fund was reglslered wlth the Chaflty Commlsslon on 29th Odober 2009. The reglstered number Is 1132398. The charftyls an unlncorpoAt8d assodatlon governed by its trust deed. The Ststion Commander at 114F Brlze Norton Is appolnted as the ex-officio Managlng Twstee of al Service Funds al RAF Brke Norton. Appolntments are ¢ontrollad by the FiAF Mannlng. based at Air Command. RAF Hlgh Wycombe. The Trustee de*ates the day-t(Hlay management and control of the Junlor Ranks Welfare Fund together wtth Ihe authorlty for the dlsbursements of grants and loans. to a management committee chalred by the President of the Ser%rfc8 Instituts Committ88. who15 appoinled by the Trustee. Members of the cx>mmlttee are appolnted from each of the wothng afeas or sedk)ns of the unit. However, all managoment dedslons, acquisitlons and expendltura are subJeGt to the Trustee's approval by slgnature In the mlnuto book. Commlttee meekngs tske.place each month. The b1get for tha noXt1Snanclal year is set In January by the Committee for the approval of the Member3 at a General Meetlng. Th8 Annual General Meetlng ratlfies the nual Accounts and ratlfios any committ86 appointments. Minutes are taken at oach committee meellng and are drculated eledfonl¢ally lo Ihe Trustee wlthin tsn WOTklng days of the meetlng for h15 approval. The Statlon Invastmènt strategy dlrocts that sufflclent Inc•me Is genèrnled to heavlly suhldlse Nnnlng costs. FUrtherTh. Brfze Norton has an Int8rnal Accounts Officer who provldes Ilnancial $nce to the Id8ss <x)mThth. Fmalty. a Servlca Funds Int8mal Audit Board ts also convened at the slart of each finandal year to carry out an Intemal arlthmetkal and manag8ment audit of the charty to ensure Ihe Fund is run In I1 the Charfty Commlgslon guldellnos and law.
Royal Alr ÈofC8 Brfz• Norton Junlor Ranks Wolfar• Fund Roport of th• Tru8t• lor the year •nd•d 29th Fabruary 2024 Trustees havg the power to deposit or Invo61 funds In any manner (but to Invest only aller obtalnlw suth advlca fmm a ffinanclal expert as the Trustses conslder necessary and havlng regard to the suitablllty of I050 and the need for dlvorslficquon). Plans for futurn p•rlod8 The maln alm of the Junlor Ranks Weltare Fund Is to encourage Spifit de corps by enabllng 8ervlce Members to mix togethdr. 80 as to help malnlaln servlca tradlllons and onUrage the welFbelng of the communmy. To this alm, plans for the fuiure Indude contlnuln9 kn provkle monetary support for sports or adventurous tralnlng actlvilles. Requests for assistance for other acllvtties aro dedded upon basod on the merits of tho Indt¥ldu81 R•vbw of trarmctlons and flnanclal posltlo'n (Includlng r•Mfv•$ pollcy) The Fund had a ¢>xthgent Ilabllty to tha Royal Alr Force C8ntral Fund, whlch was £69.808 On 4th January 2016 lh8 charfty was Infomied ty RAF .Central Fund that the contingent Ilablllty had been reda$sffied as a P8mHnent endownient grant. There will no longor be en annual Increase ID th6 sum and the charty has no pr to convèrt the opltal provknl Into income and the fund Is lo be hekl Indefinltety. The end(MTrpnt fvnd must be Invested and ba ma1ntal atan Investmenl valu8 no less than th8 endowed monles. subjertto mathet ' value kJs6es and dofiakn. The fund Is rewBsented by Irbvesknnts held in a numbor of fund$. Tha valu8 of endowrn fund monles wa8 £69.808, wlth further Inveskn8nts valued at £362,543, total £432,531 (2023 totsl: £435,493). Unre8tr1C KBseryes. £752.159 {2023: £730,008) represent great8r than 12 months expendire whl¢h the trustees f881 provkje sufflcient cover. PdrKlpal fundlng Is from swknmlng pool and btr•Aln9 Income, whlch repre8ents 47% (2023: 49%) and 28% (2023: 27%) respactively of the fund's total Incomè. All oxpendlture18 made for the benefft of tha members. Th8 fund has a neutral ethlcal Investrnent polky thFI)ugh Invosllng In IrNegtment funds. whlch allgns wlth the generic investment strategy es dlctated by HQ Alr Command. Rl•k R•vl•w Tho Charfty has taken out Employer3 Llabillty Insurance. Public Llabllty Insurance and Trustees Indemnlty Insurance. Commlbments to prwect fundlng are onty ever on the basls that Incom8 has baen secured by tho Charlty. Th8 re8eNes polky enables the Charfty lo nd up wlthout consequentlal toss ff necessary. Appropriate accounllryJ and financlal controls are in placa.
Royal Alr For Brlzo Norton Junlor Ranks Welfar• Fund Report of tho TnMI••s for th• yoar onded 29th February 2024 Trustees. rnsponslbllltl•s Laws appllcablo to Charfles In England and Wales requlr8 the TNsts8S to prepare financlal ststemontsforeach finandal year vthlch give a true and fair vlew of Ihe state of affairs of th8 Charity arKI of the surplus or deficlt of tha Charlty for Ihat perlod. In preparfng those flnandal ststemants. the Trustees are requlred to: select sultabb accountlng wlides and then apply them (x)nslstsndy; makejudgements and estlmates that are reasonable and prudent: stste wh8ther appllcable accountFng slarmdards have been followed gubJ8Ct to any materfal depaflures disclosed and 8xplained In the financlal ststements, and; prepare Ihe financlal statements on a golng concern basis unless It Is IrAppropriate to presume that the S(ety will ntInUe. The Trustees are responslbb for ke8plng prop8r acL¥)unllhg records. whith dtsclose wlth reasonable accufacy at any tlme the finandal positlon of the Charfty. Th8y are also rosponslbie for safeguarding the assets of the Charlty and hence of tskng reasonable steps for the prevention and detectbn of fraud and other Irregularities. Collactsvely the trust ensure have Ihe correct sklll mlx to be responslble and accountable for ensuring tho Charlty ry>mplies wth Ils obllgatknns. Th• Tru$t••s Gp Capt Claire Hazel O'Grady Tru•tso appolnlm•nC Inductlon and tralnlng Appolntm6nts are mado by the RAF Mannlng. Air Command. giving proper regard to the range of skllL% and experlence needed to govem the charlty. Prg-appolnlment to tnjsteeshlp. future trustees are briefed by Air Coomand Ser41ce FurKls Subjèct Matter experts and attend trustee tralnlng. On appolntmenL TTUSteeg ar8 provided wlth coples of the Twst Deed. annual reports and Other relevant matorial. Owing advlce Is Ihereafter provided to the Trustee as appn)priate. Approved by the Tntst88s on .... . 2024 and slgn8d on its behaw by Gp Capt Clalrn Haz•l IYGrndy Tru$ta•
Royal Alr Force Brlz• Norlon Junlor Ranks W•lfar• Fund Indop•nd•nl Examlnotr8 Report to the Tru•tses of Royal Alr Forc• Brlz• Norton Junlor Ranks W•llare Fund I report on the accounts of the Charity for the year ended 29th February 2024 whlch are set out on page S to 13. Respon8lblHtI•8 and ba•ls of r•port As the tharlty'$ trusle8s you are responslble for Ihe preparation of the accounts In aixordance with the requlrements of the Charilles Act 2011 (Ihe Act.).. I report In respect of my examlnallon of the charlty's accounts caNled out under sedon 145 of the Act and In Carrylng out my examination I have followed all the applicable Dlrections given by the ¢harltyCommlsslon UFKler section 145(5){b) of the Act. Ind•p•ndont •xamln•f• ststam•nt Slnce the chaiity's gross Income exceeded £250.000 your examlner must be a mernber of a body [tOd In sectlon 145 of th8 Act. I confimi that l am qualitled to undertake the examlnauon because l am a member of the Institute of Charternd Accourtants In England and Wales. Is one of tho listed bodles. I have rx>mpleted my examlnaljon. I confimi that no material matters hav8 come to my attention In connectlon wllh the examlnallon glvlng mo cause to belleve1hat in any materlal respe¢t: accounllng records were not kept In respect of th8 charfty as required by sectlon 130 of the Act, or thè aA)Unts do not awrd wlth th0$8 records. or thg ac¢x)unts do nol comply wlih the appllcable requlrements conc8mlng the fonn and content of ac(>)unts set wt In tho Charit186 (Accounts orfd Reports) Regulatlons 2008 other than any requiremont that the accounts give a INe and falr vigw whlch Is not a matter consldered os part of an Independont 6xaminatlon. I havo no concerns and havecixne across no oth6r matter5 In connectlon wlth th8 exam[rtIOn to whlch attentlon Shou be drawn In thls report In order to enable a proper urKlerstandlng of the accounts to be reached. Mr Ajay Bahl BA BFP FCA Partner Wonn Townsond Charternd Aceountants Oxford .. 2Q24
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Royal Alr For Brlz• Norton Junlor Ranks W•lfaro Fund BalanGO She•t as at 29th February 2024 2024 2024 2024 Endowm•nt Unmlrtcted R•strlctsd Fund Fund Fund . 202A Total 2023 Total FW a*$•ts 241.733 435.493 Tanglbl8 assets Investments 256,239 362,543 256,239 432,351 10 69.808 688.590 677.226 Total fix•d a$s•ts 69.808 618.782 Curr•nt as8•ts 15.708 147.587 15,708 169,944 30,159 119.246 Cash at bank and in hand 22,357 22.357 185,652 149.405 Tot41 current amats 163,295 Currnnl Ilabllllloo Crodttors- due vAthln one yaar 11 29,918 29,918 26.815 155,734 122,S90 curr•nt assets 133,377 22,357 69.808 752.159 22.357 844,324 799.816 Funds 730,008 Unrestrided Rostrlcted funds Endowment fund- pennanent 752.159 752,159 22.357 69,808 13 12 22,357 69,808 69,808 69,806 752.159 22,357 844.324 799,816 The aco)unts were approved at a meetkng of ts TNstses on ... . 2024 and slgned on Its behaN Gp Capt Clalrè Haz•l O'Grady The not•• on pag•• 8 to 13 fomi part of thos• acmunt
Royal Alr For Brlze Norton Junlor Ranks W•lfar• Fund Cash Flow Statamont as at 29th F•bruary 2024 2024 2023 N•t ¢h Ilowfrom oprnllng acllvltlos 14 92.300 15.372 Cash from Invtstlng actlvltkn: Purthas8 of tanglblg assets Cash lpts for Investment diyls Realisgd profft on sale of Investments Unreallsed lossl(gain) on Investments (44,744) (33,000) 22,109 (972) 13,312 3,142 N•t cash fiow from In•tIng actlvltlas (41,602) 1,449 Ca•h fl¢M from lInalg actlvltlos {DecroaseYincrease In overdraft Nol cuh fiow financlng actMtla$ Net {decreaseYthcrease In cash 50,698 16,821 Cash at 1st MaY¢h 2023 119.246 102.425 Cash •t 29th F•bruary 2024 169.944 119,246 Th• not•s on pag•8 8 to 13 forni of •ccounts.
' Royal Alr Force Brlza Norton Junlor Ranks W•llarn Fund ' NOts8 to th• Flnanclal Stat•m•nts for th• year 29th Fobruary 2024 Bas of pr•paratlon The charlty constitulag a public benefft enw as defined by FRS102. These accounts hava been ptepared on an aC¢nlS basls and Include Income and expenditUTe as they are oamed or Incurred, ther than as cash Is recelved or paid. The financt81 statements have been prepared In accordance with Accourfing and Reportlng by Charitles: Statsment of Recornfflendgd Pradlce appllcable to charlties preparfng thelr accounts In accordance wllh the Flnanclal Reportlng Standard appltcable In the UK and Republlc of Ireland Issued In October 2019, the Flnand81 Reportlng Standard appll¢8ile In the Unltod Kingdom and Republlc of Ireland {FRS 102). tha Charftles Act 2011. and UK Generalty Acc8Pted Accountlng Practlce. The Ilnanclal statemgnts are prepared ¢)n a golng concern basls under the hlstorlcal cost convention, rrlfied to inL4ude certaln Items ai fair value. Slgnlncant accounting pollcies applled In the preparation of these fand81 statsments are set out belthv. These policlos have been conslstenty appSied to all yearn present unles8 otherwl8e stated. The Charlty Is a charllablg Insbbjtion wlth exempknn from taxatlon undor secrn 505 of the Ino)me and Corpor8tKn Tax8s Act 1988. The Charlty Is exenipt from the requlrement lo pTepare a cash slalement. Tho prosentstional cuThency18 Sterling rounded to the nearest one pound. The comparatlve fjgures present Inf0MtIOn fortho Parfod 1st March 2022 to 28th Febriiary 2023. The finandal stalements have bft prepared on a golng 1>)ncom basls as th8 Trustees bellove thal no materfal uncertalntias extst. The Trustees have con$ldered Ihe level of funds held and tho expected 16vel of Income arKI expendlture for 12 ff¥)nths from authorfslng these finandal slatsmgnts, on the charfty. They have concludèd that the budgetad Incomo and expend¢tur8 Is sufficlent wlih Ihe I1 of reserve8 held lor the charlty to be ablo to contlnue as a golrxJ concem. Accounllng polklos b) d) In¢omo r•cognlllon All IncoThthg resouTLw Included In tho stateTnent of financlal actmtss when the thaflty is legally endued to the Income after any perfoTmanc8 ndIllOnS have been met. the amount can be measured rellabty and it Is probable that tha Income wlll b8 received. In¢ome from lineage Is Included vthen the charity has uncondllional anollement to the fesouThs. lsicDme from charltable acdvStlos Indudes bar. functk>n and gamlng Incom8. Income Is fecelved In exchaThJe for Supplylng goods and servlces and Is renISed when 6ntillem8nt has occurred. Inve3trnents Incom018 eamed through holdlng assets for Invèstment purwses such 88 bank deposlts. It Indudes InteresL The Income is recognlsed as Ihe charws rfght to receive payThnt is establ1sld. Allo¢allon ol to r•$ourc•¥ •xpond•d b) Speclfic ftems of wondknre are athlbuted to tha approwlate catsgory. of; t of generafjng donatlons and legachs. Th880 ar• the costs assoclated wlth ggnerattftg voluntsry InrnIng rasourcé8 from all Sour othar than UlertakIng charttable actlvnios. Charftable activliles. Tho$8 are tho rnsources appllod bythe Charfty In undertaklng Its worklo meet Its charltabkn objecfjves.
Royal Alr Forc• Brlze Norton Junlor Ranks W•llare Fund NoteB to tho Flnanclal Stat8m•nt• for Iho ar 29th February 2024 LY)ntinu8d b) Allocatlon of Go8ts to r•gour¢a• •xpondod {contlnu•d) Governance c08ts. These are costs that relate to the g8neral running of the charfty. The govemance costs of the Charity are primarfty associatsd wllh constltuilonal and statutory requlTements. These are InGluded under charltsble costs. Support costs such as postage and 8tatlon6ry have been allocatsd to athAty cost Gategorfe$ on a conslstent basig. Fund acmunllng The Charfty malnly holds unre8tri(tsd funds whlch can be used In aUrdanCe wlth the drltable objectlves of the charity and at tho discretion of the truste6S. Endowment funds represent those assets whlch must be held permangnty by the charlty. prlnclpal the RAF Central Fund. Income arlsing on thls fund can be used In accordance with the objectives of tha ¢harty and Is Included as unreslrfcted Income. Any capltal galns or bsso5 foTm part of the fund. No amount Is Induded In the financlal slatements for voknnteer tlme In line wllh the SORP (FRS 102). For donallons to bè r8cognlsed thè charity will have been notified of th8 amounts and the sotUem8nt dats In wrltlng. If there are ¢ondItior attached to the donatlon and requSres a level of pgrforman(% before entittement can be obtalned then Income Is deferred untll Ihose condllk)ns aro fully met and it is probable that they wlll be fulfilled. Tanglble fix8d a&sots are staled at cost ordeemed Gost or v81uatioryless accumulated depreclation and accumulatsd Impaimiont losses. ltsms aro capltalised If they can be used for mor8 than.a year and cosl of at least £1.000. Depreciallon ts provided on all langible fixed assets, at rates calculated to wri16 off the cost. less estitnated resldod value. of each asset on a systenmtic basls over Ils expacled usefvl e¢onoml¢ life as follows: d) Capllal assets Fixtijres. fltllngs and equlpment 20% stralght line Property Improvement costs 6.66% straight lkne Investrnents are re(wlsed Inltlally al thelr valua whlth Is nomially Ihe transadlon prlce exduding trdnsacuon costs. Subsequently they are measured At fatr value with thanges re(wnised In net 981{10sses} on Investments In th8 SOFA If the shar8s are publw traded or thelr falr value can otheTh¥lse be fiaSured rellably. Other Investments are measured at cost less Impalrnierrt. stocks are ststed at the lower of cost and estimated 8811Sng prfce. Provlslon is made for damaged, obsolete and stock moving Items wherè appropriale. Debtors and credltors wlth Th) stated interest rate'and fecelvable and payable wlthln one year are recorded at trdnsactK)n PTlce. Any losses aTlsing from irnpairments are recognlsed In expenditure. The finandal slatoments have begn prepared on a gokng concem basls as the truste8s belleve that no malédal uncertalntles exlst. The tntsteos have consldered tha lev81 offunds hekl and eod level of Income and expendlture for 12 months from Ihe approval date of the a¢¢ounts. g) i) J)
Royal Alr Forca Brlz• Norton Junlor Ranks Wolfar• Fund Not•s to the Flnandal Statemonts for th• year 29th F•bruary 2024 .. contlnued Grants r•celvabl• Unrostrldod Rostslct Fund Fund 2024 2024 Totsl 2024 2023 Other donattons 42,079 22,357 64.436 42.079 22,357 64.436 Incomlng rèsourc from charltabh actlvHI Unrn*trlct•d Fund 2024 Total 2024 Totsl 2023 Astra Bowl Swimmlng pool Spotllght club In(x>me Garage Famillas. dub kncome Sports bar Incom8 Other 158,902 272,668 352 11,248 20,210 13.700 17,289 158.902 272.668 352 11,248 20,210 13,700 17.289 138231 253,676 1.120 10,307 29.821 19.539 494.369 494.369 497.028 Expondltur• on Charltablo actlvltl•s The Charlty undartook the folltrwlng charltabla aclivifjos: UnrnBtrl¢tsd Fund 2024 Total 2024 Total 2023 Govemance costs (see note 6) 2.450 181.981 166,794 2.733 17.980 2,450 181.981 166.794 2.733 17,980 1.800 23.873 10.438 119252 165.919 165.829 Swlmmlng pool StIht club expendlture Minibus and Camper Van Sports gTanl Famlliès, dub expendlture Sports bar exponditure Olher 40.703 23.873 10,438 119,252 38.123 10.562 108,361 527,301 527.301 535,805 -10.
Royal Alr Forc• 8rlz• Norton Junlor Ranks W•llarn Fund Not86 to th• Flnanclal Ststomonts for the y•ar 29th Febrnary 2024 .. continued Unr•strfct•d Fund 2024 Tolal 2W Total 2023 Independent revlew of accounts 2.450 2,450 2.200 2,450 2.450 2,200 Govomance costs afe Induded under charilable actlvittes. Anaty818 of •Mpl•)Y Msts No employees are employed dlrocty by the charlty. Trustaes and koy manaymont p•t*onn•l r•mun•rath>n and •xpon8as The ITUSt8es nelther racelved nor waived any remuner8tlon or expenses durfng the year (20Z3: £NII). The total amount of employee benefit received by key managemert per8Mnel Is £.nS1 {2023: £nll). Thè Ine$ are considered to be th8 key management personn81. There were rK) high pald slaff In the UJTforrt or prevlous yews. Tanglble fflxod ass•ts Flxtur•$. Flttlngs & Equlpment Total A8 Bt 1st March 2023 Addttlons 430,353 44.744 430,353 44.744 AG at 291h Fgbruary 2024 475.097 475,097 A¢Cumula1 doprnclatlon As at 1st March 2023 Chonje for the parh)d 188.620 30.238 188,620 30.238 As at 29th February 2024 218.858 218.858 N•t book valuo As at 291h February 2024 256.239 256.239 As at 28th February 2023 241,733 241.733 11
Royal Alr Force Brlz• Norton Junlor Ranks Welfar• Fund Notss to the Flnanclal Staloments for tho year 29th F•bru•ry 2024 .. continued 10. .Flx•d auet Inv•slmonts 2024 2023 Market value at beglnnlng of year Less: dlsposals at openlng market value Addl(deduct): Nei galnsl{loss) on r4valuatlon 435,493 469.942 (22.109) (12.340) (3,142) Market value at end of year 432.351 435.493 Ll•t•d Investm•nts at falr valu•: 2024 2023 Propety fund Japan Far East FurKI UK Flxed Intergst Structtired Rotum N<)rtli American Equitss Hedge Fwids Intematlonal and Thematlc UK Equltles Cash Intsmational Flxed Interesl European aqulues 8,557 20.745 108.379 44.004 29.713 39,479 52.507 66,707 4,499 48.528 8.678 22,668 93.522 26,565 27.814 54.465 72.880 24.434 Markel valu8 at end of ye 432,351 435.493 11. Cr•dltor4 du• wlthln on• yur 2023 Trade credltors Othertaxes and aockl securfty Accruals and defeffed Income Other ¢redltors 6,894 18.385 3.435 1204 5.590 17.785 1,890 1550 29.918 26.815 12.
Royal Alr Forco Brlz• Norton Junlor Rank• Wéllare Fund Nots8 10 th• Flnanclal 3tatem•nt8. for tho year 29th F•bruary 2024 . contlnued 11 Pomiamnt andowment fvnd Transfers At 29th unrnstrfct•d F•bruary r•servo• 2024 At 1st Maych 2023 Unr•alls•d 1095 RAF Central Fund 69.808 69.808 69,808 69.808 Durlng 2015 the RAF Central Fund reclasslfied the sums advanced to a parmanent endowment grant. There Is no ptyer to L¥)nvert the capllal provided Into incoma and the fund Is to be hekl indefinitely. The endowThnt fund must be Inv8Sted and the Investmgnt value must be malntalned at a value no Sess than the ondow8d grant monles. subject to marf(el valua losses and defiation. The income generated from th8 Inve3t8d funds must bg used to support approprtats charitabl8 activlt18s of the Fund. 13. R•StrId funds At 1st Mar¢h 2023 February Incomo Expoftdliure 2024 Avlators Improvem8nts fund 22,357 22.357 22,357 22,357 14. R•¢onclllatlon ot n•t mov•m•nt In fund* to Mt tash tkw from opornfjng •ctlvlll•s: 20 2023 Nat movement In funds Add back dapredatk>n charge (Increaseydecraase In stock Increasel(d8craas8) In credltoi8 Increase In debtors 44,508 30.238 14.451 3,103 (35,117) (5.418) {2,173) 25.272 Net tssh flow from oporaung actlvllbs 92,300 15.372 -13.