2020-12-31-accounts - Cornwall Air Ambulance Trust

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				Page
Reference and Administrative			Details ofthe Charity, its Trustees and Advisers	1-2
Trustees' Report
Independent	Auditors'	Report	on the Financial Statements	24- 27
Consolidated	Statement ofFinancial Activities			28
Consolidated	Balance	Sheet		29-30
Charity Balance Sheet				31 - 32
Consolidated	Statement ofCash Flows			33
Notes to the	Financial	Statements		34-57

Trustees			Mr I Brackenbury (Retired	Mr I Brackenbury (Retired	26 March 2020)	26 March 2020)	26 March 2020)	26 March 2020)
			Mr M M P Carne CBE, Chairman			(Appointed 29			January 2020)
			Mr SA Carr, Chairman	of	Nominations			and Remuneration		Committee
			Mr R Cowie, Chairman	Finance Committee
			Ms D Griffith
			Mr BS Mark, Chairman	Risk and Audit				Committee
			Mr H Orchard (Retired	26	March	2020)
			Mr C C Pomfret, Vice Chairman
			Mrs S L Pryce (Retired	21	April 2020)
			Mr D Scott
			Mrs BSharpies, Chairman		New Heli Appeal Board
			Miss LA Mckay (appointed		28 January			2021)
			Mr N SLentern (appointed		28 January		2021)
New Heli	Appeal Board		Mrs Barbara Sharpies (Chairman)
			Ms Jackie Stanley
			Mrs Barbara Corbett
			Mr Jonathan McCulloch
			Mrs Heather Forster
			IVlr Ali Carnegie
			Mr Chris Richards
			Mrs Kate Arter
			Dr Kevin O' Sullivan
Company	Registered
Number			07085879
Charity Registered
Number			1133295
Company	secretary		Mr S Murdoch
Senior Leadership		Team	Mrs P Martin, Chief Executive Officer (left 28 February 2021) Mr S Murdoch, Chief Operating Officer/Interim Chief Executive								(from	1 March
			2021)
			Mrs J Southon, Director	of Fundraising			(left 2 October 2020)

Independent	Auditors	Bishop Fleming
		Chartered Accountants
		Statutory Auditors
		Chy Nyverow
		Newham Road
		Truro
		Cornwall
		TR1 2DP
Bankers		HSBC pic
		3 Fore Street
		Bodmin
		Cornwall
		PL31 2HU
Legal Advisers		Stephens Scown
		1 High Cross Street
		St Austell
		Cornwall
		PL25 4AB
Investment	Managers	Quilter Cheviot
		One Kingsway
		London
		WC2B 6AN

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2020f	2020	2020f	2019
Income from:
Donations and legacies			6,995,983	461,791	7,457,774	6,346,425
Charitable activities			12,750	3,648	16,398	63,225
Other trading activities			574,648	119,605	694,253	1,136,535
Investments			62,219		62,219	101,699
Total income			7,645,600	585,044	8,230,644	7,647,884
Expenditure on:
Raising funds			1,406,917	7713	1,414,630	1,646,195
Charitable activities			2,761,396	268,177	3,029,573	3,078,827
Total expenditure			4,168,313	275,890	4,444,203	4,725,022
Net income before investments	net gains on		3,477,287	309,154	3,786,441	2,922,862
Unrealised net gains on investments			241,220		241,220	372,144
Net income			3,?18,507	309,154	4,027,661	3,295,006
Transfers between	funds	19	366,372	(366,372)
Net movement in funds			4,084,879	(57,218)	4,027,661	3,295,006
Reconciliation offunds:
Total funds brought	forward		11,356,565	2,614,408	13,970,973	10,675,967
Net movement in funds			4,084,879	(57,218)	4,027,661	3,295,006
Total funds carried	forward		15,441,444	2,557,190	17,998,634	13,970,973

					2020		2019
			Note		E,		E
Fixed assets
Intangible assets			13				33,685
Tangible assets			14		10,315,099		10,336,482
Investments			15		3,258,900		3,017,973
					13,573,999		13,388,140
Current assets
Stocks			16	7,581		5,512
Debtors			17	2,770,682		603,169
Cash at bank and in hand				2,570,640		1,048,310
				5,348,903		1,656,991
Creditors: amounts	fatling due within one
year			18	(924,268)		(1,074,158)
Net current assets					4,424,635		582,833
Total assets less current liabilities					17,998,634		13,970,973
Net assets excluding		pension asset			17,998,634		13,970,973
Total net assets					17,998,634		13,970,973
Charity funds
Restricted funds:
Restricted funds			19	3,850
Restricted fixed assets		funds	19	2,553,340		2,614,408
Total restricted funds			19		2,557,190		2,614,408
Unrestricted funds			19		15,441,444		11,356,565
Total funds					17,998,634		13,970,973

			Note		2020		2019f
Fixed assets
intangible assets			13				33,685
Tangible assets			14		10,315,09S		10,336,482
Investments			15		3,258,901		3,017,974
					13,574,000		13,388,141
Current assets
Stocks			16	7,581		5,512
Debtors			17	2,801,092		608,748
Cash at bank and in		hand		2,527,487		1,027,730
				5,336,160		1,641,990
Creditors: amounts	falling due within one
year			18	(911,526)		(1,059,158)
Net current assets					4,424,634		582,832
Total assets less current liabilities					17,998,634		13,970,973
Net assets excluding		pension asset			17,998,634		13,970,973
Total net assets					1?,998,634		13,970,973
Charity funds
Restricted funds			19		2,726,127		2,614,408
Unrestricted funds			19		15,272,507		11,356,565
Total funds					1?,998,634		13,970,973

						2020	2019
						f.	F
Cash flows from operating			activities
Net cash		used in operating	activities			1,809,055	3,845,788
Cash flows from investing			activities
Dividends,		interests and rents from investments				62,219	101,699
Proceeds		from the sale oftangible fixed		assets		3,000
Purchase		oftangible fixed assets				(347,265)	(7,117,267)
Proceeds		from sale of investments				3,028,970	269,581
Purchase		of investments				(3,033,649)	(289,475)
Net cash		used in investing	activities			(286,725)	(7,035,462)
Change	in cash and cash		equivalents	in	the year	1,522,330	(3,189,674)
Cash and		cash equivalents	at the beginning		ofthe year	1,04&,310	4,237,984
Cash and		cash equivalents	at the end	of	the year	2,570,640	1,048,310

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2020	2020	2020	2019
		E	E	E
Donations	1,009,760	223,943	1,233,703	2,026,211
Legacies	3,672,852	13,730	3,686,582	1,158,702
Grants	720,053	224,118	944,171	1,676,374
Lottery	1,593,318		1,593,318	1,485,138
	6,995,983	461,791	7,457,774	4,966,697
TOTAL 2019	3,815,372	1,151,325	4,966,697

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2020 E	2020f	2020 E	2019 E
Air Ambulance	service	12,750	3,648	16,398	63,225
TOTAL 2019		63,225		63,225

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020 F	2020 E	2020f	2019
Charity	shop sales	8 other income	548,440	119,605	668,045	1,107,768
Income	generated	by subsidiary	26,208		26,208	28,767
TOTAL	2020		574,648	119,605	694,253	1,136,535
TOTAL	2019		1,081,836	54,699	1,136,535

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020f	2019 E
Investment	income - other local unlisted	61,734	61,734	95,990
Investment	income - local cash	485	485	5,709
		62,219	62,219	101,699
TOTAL 2019		101,699	101,699

							Unrestricted	Restricted	Total	Total
							funds	funds	funds	funds
							2020 f	2020 E.	2020f	2019
Donations,	fundraising			8 events			529,169	7,713	536,882	576,309
Legacies							42,875		42,875	43,583
Lottery management			&	development		costs	333,659		333,659	475,730
Retail expenses		8 purchases			for resale		493,640		493,640	533,499
Investment	management			costs			4,636		4,636	16,634
Expenditure	incurred		by subsidiary				2,938		2,938	440
							1,406,917	7,713	1,414,630	1,646,195
TOTAL 20	19						1,426,872	219,323	1,646,195

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
						F
Provision	of air ambulance	service	2,761,396	268,177	3,029,573	3,078,827
TOTAL 2019			3,003,119	75,708	3,078,827

		Activities
		undertaken	Support	Total	Total
		directly	costs	funds	funds
		2020	2020	2020	2019
		E	E	E
Provision ofair ambulance	service	2,174,978	854,595	3,029,573	3,078,827
TOTAL 2019		2,246,958	831,869	3,078,827

	Provision of
	air	Total	Total
	ambulance	funds	funds
	2020 E	2020f	2019
Staff costs	317,117	317,117	225,482
Marketing	155,306	155,306	179,893
Insurance	38,380	38,380	28,742
Property Costs	109,299	109,299	112,879
Repairs 8 Maintenance	39,615	39,615	45,631
Staff Expenses	58,191	58,191	125,321
Office Expenses	39,064	39,064	32,762
Bank Fees	40,068	40,068	41,765
Legal 8, Professional	58,002	58,002	39,394
Profit on disposal ofassets	(447)	(447)
TOTAL 2020	854,595	854,595	831,869
TOTAL 2019	831,869	831,869

Auditors' remuneration
						2020	2019
						E	F
Fees payable to the Charity's	auditor		for	the audit ofthe Charity's	annual
accounts						16,000	11,000
Fees payable to the Charity's	auditor		in respect of:
All taxation advisory services	not	included		above		750	1,100
All non-audit services not included		above					570

Staff costs
	Group	Group	Charity	Charity
	2020f	2019	2020	2019 F
Wages and salaries	1,026,163	967,202	1,026,163	967,202
Social security costs	89,378	81,620	89,378	81,620
Other pension costs	54,314	36,699	54,314	36,699
	1,169,855	1,085,521	1,169,855	1,085,521

The average numbe	r of	pers	ons employed by	the Charity during th	the Charity during th	e year was as follows:	e year was as follows:
				-Group—		Braup— Bhsrity		Gharity—
					2020	2019	2020	2019
					No.	No.	No.	No.
Average headcount	number		of staff employed		39.0	41.0	39.0	41.0
The average headcount		expressed as full time		equivalent	was:

			Group	Group	Charity	Charity
			2020	2019	2020	2019
Administration			4	3	4	3
Charity shops			16	17	16	17
Fundraising			10	11	10	11
Marketing			3	3	3	3
Senior leadership		team	3	3	3	3
Volunteer	department		1	2	1	2
			37	39	37	39

Group	Group
2020	2019

	Lottery
	goodwill L
	database
	f.
COST
At 1 January 2020	220,483
At 31 December 2020	220,483
AMORTISATION
At 1 January 2020	186,798
Charge for the year	33,685
At 31 December 2020	220,483
NET BOOK VALUE
At 31 December 2020
At 31 December 2019	33,685

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		Cash held
		with
	Listed	investment
	investments	manager	Total
GROUP AND CHARITY	F
COST OR VALUATION
At 1 January 2020	2,213,880	804,093	3,017,973
Additions	3,033,649		3,033,649
Disposals	{2,224,877)		(2,224,877)
Revaluations	236,248		236,248
Transfers between classes		(804,093)	(804,093)
At 31 December 2020	3,258,900		3,258,900
NET BOOK VALUE
At 31 December 2020	3,258,900		3,258,900
AT 31 DECEMBER 2019	2,213,880	804,093	3,017,973

				Group	Group	Charity	Charity
				2020	2019	2020	2019
				f.			E
	Finished	goods and goods for resale		7,581	5,512	.7,581	5,512
17.	Debtors
				Group	Group	Charity	Charity
				2020	2019	2020	2019
				F	F	f	F
	DUE WITHIN		ONE YEAR
	Trade debtors			14,451	84,652	14,451	84,652
	Amounts	owed by group undertakings				33,028	5,758
	Other debtors			26,462	27,747	23,972	27,747
	Prepayments		and accrued income	2,729,769	490,770	2,729,641	490,591
				2,770,682	603,169	2,801,092	608,748

				Group	Group	Charity	Charity
				2020	2019	2020	2019
					E
Payments	received on		account	185,772	184,371	185,772	184,371
Trade creditors				493,238	645,697	493,238	645,697
Other taxation		and social security		26,362	21,286	26,362	21,286
Other creditors				6,039	122	6,039	122
Accruals	and deferred		income	212,857	222,682	200,115	207,682
				924,268	1,074,158	911,526	1,059,158

Statement offunds	-	current year
							Balance	at
		Balance at 1						31
		January			Transfers	Gains/	December
		2020f	Income f	Expenditure E	in/outf	(Losses)f	2020 E
UNRESTRICTED
FUNDS
DESIGNATED FUNDS
Helicopter replacement					198,824		198,824
Helicopter purchase
retention		510,500			(170„220)		340,280
NBV of unrestricted
funded assets		7,755,683		(167,015)	(5,741,800)		1,846,868
NBV ofAir Ambulance
(unrestricted element)				(159,449)	6,074,267		5,914,818
Future Development	8
Investments					2,700,000		2,700,000
		8,266,183		(326,464)	3,061,071		11,000,790
GENERAL FUNDS
General Funds - all
funds		3,090,382	7,645,600	(3,841,849)	(2,694,699)	241,220	4,440,654
TOTAL
UNRESTRICTED
FUNDS-		11,356,565	7,645,600	(4,168,313)	366,372	241,220	15,441,444
RESTRICTED
FUNDS
Heli Appeal			431,353	(53,831)	(377,522)
Other restricted funds			3,850				3,850
CJRS grants			146,193	(146,193)
			581,396	(200,024)	(377,522)		3,850
Capital Restricted
funds
Helicopter AW169-
DCMS (LIBOR)		1,000,000		(26,250)			973,750
Helicopter AW169-
(DHSC)		500,000		(13,125)			486,875

Statement of	funds	- current year	(continued)
								Balance at
	Balance at 1							31
		January				Transfers	Gains/	December
		2020	Income E	Expenditure		in/out F	(Losses)f	2020 F
Airbase construction
(SWRDA)		839,367			(18,963)			820,404
Annex (LIBOR)		220,898			(5,360)			215,538
Welfare 8 Pastoral
Facilities - (DCMS)		39,976			(3,968)			36,008
Other restricted	funds	14,167	3,648		(8,200)	11,150		20,765
		2,614,408	3,648		(75,866)	11,150		2,553,340
TOTAL
RESTRICTED
FUNDS		2,614,408	585,044		(275,890)	(366,372)		2,557,190
TOTAL OF FUNDS		13,'970,973	8,230,644		(4,444,203)		241,220	17,998,634

. Statement offunds	(continued)	(continued)
Statement offunds	- prior year
							Balance at
	Balance at						31
	1 January				Transfers	Gains/	December
		2019	Income	Expenditure	in/out	(Losses)	2019
		F	F	F	E	F	F
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Helicopter
replacement		92,312			(92,312)
Helicopter purchase
retention	4,198,000				(3,687,500)		510,500
NBV of unrestricted
funded assets	2,159,515			(213,151)	5,809,319		7,755,683
	6,449,827			(213,151)	2,029,507		8,266,183
							Balance at
	Balance at						31
	1	January			Transfers	Gains/	December
		2019	Income	Expenditure	in/out	(Losses)	2019
		E	E	F	F	E
GENERAL FUNDS
General funds	2,570,479		5,062,132	(4,216,840)	(697,533)	372,144	3,090,382
TOTAL
UNRESTRICTED
FUNDS	9,020,306			(4,429,991)	1,331,974	372,144	11,356,565
							Balance at
	Balance at						31
	1	January			Transfers	Gains/	December
		2019	Income	Expenditure	In/out	(Losses)	2019
		F	F	E	E	E	F
RESTRICTED
FUNDS
Heli Appeal	328,618		1,206,024	(219,323)	(1,315,319)
Portable ultrasound		14,800			(14,800)
Chest compression
system		1,855			(1,855)

Statement offunds	- prior year (co	ntinued)
							Balance at
	Balance at						31
	1 January				Transfers	Gains/	December
	2019	Income	Expenditure		in/out	(Losses)	2019
				P		F
	345,273	1,206,024		(219,323)	(1,331,974)
Capital Restricted
funds
Helicopter AW169-
DCMS (LIBOR)	162,500	837,500					1,000,000
Helicopter AW169- (DHSC)		500,000					500,000
Airbase construction
(SWRDA)	856,501			(17,134)			839,367
Annex (LIBOR)	225,699			(4,801)			220,898
Welfare & Pastoral
Facilities —(DC MS)	14,806	25,468		(298)			39,976
Other restricted funds	1,157			(1,157)
Big Lottery awards for
All	787			(787)
Laryngoscope appeal	704			{704)
Mannequin appeal	75			(75)
Flying suits	1,333			(667)			666
Equipment - Duchy
Health Charity		16,760		(3,259)			13,501
Night flying
technology	46,826			(46,826)
	1,310,388	1,379,728		(75,708)			2,614,408
TOTAL
RESTRICTED
FUNDS	1,655,661	2,585,752		(295,031)	(1,331,974)		2,614,408
TOTAL OF FUNDS	10,675,967	2,585,752		(4,725,022)		372,144	13,970,973

Summary	offun	ds - current yea	r
							Balance at
		Balance at 1					31
		January			Transfers	Gains/	December
		2020 E	Income f	Expenditure E	In/out F	(Losses) E	2020f
Designated funds		8,266,183		(326,464)	3,061,071		11,000,790
General funds		3,090,382	7,645,600	(3,841,&49)	(2,694,699)	241,220	4,440,654
Restricted funds			581,396	(200,024)	(377,522)		3,850
Restricted	funds
-Class I!		2,614,408	3,648	(75,866)	11,150		2,553,340
		13,970,973	8,230,644	(4,444,203)		241,220	17,998,634

Summary offun	ds - prior year
						Balance at
	Balance at					31
	1 January			Transfers	Gains/	December
	2019	Income	Expenditure	in/out	(Losses)	2019
	F	F		E	E
Designated
funds	6,449,827		(213,151)	2,029,507		8,266,183
General funds	2,570,479	5,062,132	(4,216,840)	(697,533)	372,144	3,090,382
Restricted funds	345,273	1,206,024	(219,323)	(1,331,974)
Restricted funds
-Class II	1,310,388	1,379,728	(75,708)			2,614,408
	10,675,967	7,647,884	(4,725,022)		372,144	13,970,973

Analysis ofnet assets between fund	s - current period
			Restricted
			Fixed
	Unrestricted	Restricted	Assets	Total
	funds	funds	funds	funds
	2020 E	2020	2020 E	2020f
Tangible fixed assets	7,761,759		2,553,340	10,315,099
Fixed asset investments	3,258,900			3,258,900
Current assets	5,345,053	3,850		5,348,903
Creditors due within one year	(924,268)			(924,268)
TOTAL	15,441,444	3,850	2,553,340	17,998,634

Analysis	of net assets between funds - prio	r period
			Restricted
		Unrestricted	Fixed Assets	Total
		funds	funds	funds
		2019	2019f	2019f
Tangible	fixed assets	7,722,074	2,614,408	10,336,482
Intangible	fixed assets	33,685		33,685
Fixed asset investments		3,017,973		3,017,973
Current assets		1,146,491	510,500	1,656,991
Creditors	due within one year	(563,658)	(510,500)	(1,074,158)
TOTAL		11,356,565	2,614,408	13,970,973