Regtered number 07085879 Charty number. 113329S CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEEI TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 'ACLXN8GH' *121 COMPANIES HsE Bishop Flerning
CORNWALL AIR AMBULANCE TRUST {A COMPANY LIMITEO BY GUARANTEEI CONTENTS Pa9e R*f•r•nce and Administrative Details of the Charity. Its TfUSt•ts and Advlsèts TNstees' Report Indendent Auditors. Reporton the Financlal Statements 25-28 Consolidated Statement ol FiMn¢ial A¢tivitlès Consolidated Balanc• She•t Charity Balan¢e Sheet 31 Consolldated Statement of Cash Flo Notes to th• Flnanclal Stat•ments 33-59
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIPIIITED BY GuAREEl REFERENCE AND ADMINISTRATI DETAILS OF THE CHARrrY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENOED 31 DECEMBER 2022 Trustee$ Mrm M P Came C8E. Chair Mr C C Pomfiet. Chair {wigned 26 July 2022) Mr S A Carr, Chair of Nominatrons and Remurwation Ctynmiilee Mr R Cowie, Ch[ Finance Comrnittee Mr B S Mark. Chair Risk and ALNJit Committee Mrs B Sharples (rosigned 26 July 20221 Mr D Scott Mfs D Grrffth Ms L A M¢Kay 14lr N Lenlem Mrs B Sharples Mr J IAcCulkKh Ms J Stsnbey Dr K Dickens Dr K O'SuNb MsKHum Phllanthropy Fonjni Company Reg•stered Number 07085879 Charity Registered Number 1133295 ompany Stary Mr A Vlhition Sèniot L•adership Tèam Mr T Bunting. Chief Executive offr Mr A Whitton of Finan & Business Intdrjgence Mr A Evans. Head of Operafions Page 1
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMtfED BY GUARANTÉE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Ind¢pondent Auditors Bishop Fleftwng LLP Chartered Accountsnts Statutory Audito Chy Nre1 Truro Cornwall TR12DP Bank¢rs HSBC p Twro TR12QZ Lagal AdYi5grs Stephens S¢¢y4m Osprey House Malpas Ro•J Truro TR1 1Lrr InY•stment Managefs Qutiter che01 Onè Kingsway London WC28 &4N Pag8 2
CORNWALL AIR AM8ULANCE TRUST {A COMPANY UhlTED BY GUARApifEE) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 ComwaN Amb(lance Twst has YC frn str1h to stsngih. Last year. a5 we &merged from the pandemic effects. our ¢eam worked h¥d to system"Galy ury)rove the heocopter rperat¢ons aThd k> prothde a more rdiab]e see to the people of cAJr eounty. We also started a strategK revie to expl Thwe else we c•uj make the b(ggest Thmpact on patient outcomes. This grwndbreakin9 worf( w1 set Ihe strat¢9 •3eryJa for ow (tiarity gow fOard. impxting TrJl only the type offflèdical tean we rAry. but a150 the e4uipmentM the airryaft and its bathip provision. Taking the time to slep back and Careful cowder whwe we should our effts lead lo a far more robust long-tem improvement plan Ihat has sl$51 pattentoulc(Tres at its arl People I meet are constantty SUfpll"sed when l FhJint that the Air thbUla 15 entirety fvndEd throu.gh wblic tlonations. We are IncT7b1Y ¥natÈfiJl to the amazmgty people of Comwall and the Isles of ' Srilty. Last year. despite all the cosl-of4iwng chanenges. they dug deeper than ever befo and this has given us the ¢onfiden¢e lo be ev morE artiliou5 in rMJr work. Thank you so much. Two lonwlanding M)5 of our Board stoc1 d¢MI last year. Chris Pc4nfret OBE and Bathra Sharples. I w0d like lo record our huge ¢harS to both these bwslees for the tifeless SUPP they gave the Board over many yea. l am delighted that Barbara Sharples ci)nbnues her as50L¥atiorh with Ihe charity a5 she was appointed our Ifice4res¥Jenl a role she fulffls her cJJstti)ary erTyy znd a commrtmenL My thanks afso go to Dr Ed Abrdhamson. al the eThJ of leffti as VKe•den( for his irtspiraliord example. FiriaNy. on behalf ol the Board. I'd to say thank you to our stsff ond kn our &oundcrew vdunteers. Together they are'one team. focused on provSng critKa Ca to those most wi need. Try do this with great dedication. cornmilJnenl and profe55ionafwn. but also with a smu• on th¥rtsce51 Well dLe learn cA4rii rMMPCarneC8E Cha Dated: 19th September 2023 Page 3
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITÉD BY GUAKANTEE) CHIEF EXECUTIVE OFFICERS STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 This set of 8nIS tr the year ending 3151 December 2022 Illustrates the htsge level of support Comwall r Ambul8n¢e i% privileged lo have. Oespile emerging the partdemK and under $¢gnificanl socio- econom pressures, we have achieved our best year fan(la1. We ate. however. Very aware of thè fatth rèsponsibility thal comes with tfvs generosity. . The success in KKome generatson all¢J¥s u$ lo be boljer In ow ambitions to prwde ¥¢ry best alr nbulance See rn the wryld and we wdl constantty strNe to deliver Ihis for the peopla w• s•Ng. ITh 2023 we will artnounce exciling plans for our fvture, puttiryJ us at the ftxefronl of Cribcal we. On¢e again. we undertock dose to 1.100 mt551$ in 2022 hever thÉs demand Trs increasM)g, in part to Ihe challenges ¢)n the iKrt th wilh the continued infiux of tourists and an increasing resident population. As I reported in prev anrKRt teporL we hm 5 prttyity areas for Ihe organtsKM)". Cultwe, slon Vafues-enyJrifyJ our pwle (supPters, rcle•, staff and volunteers) are al tr centre ofeverything we do. Operab"onal Ex¢eUen¢e - pwding the very best crlbcal care for the pec of comw and the Isles of Solty. ItKome Generatv)n & Matheb'r¥J - provJIj the nary lunds and awareness to suppcrft our missions. Special Pf¢gects- supprybng innovation and ¢ontinto1 devek>pment is al the forefront of our thinking. Finance & BUSI$$ Intellerte - enn9 th)nated funds are veSted well and we have the informatson to make informed deasirms. l am eghted vAlh Iho pmgrèss we made ajainst each of these obje¢lNes. re¥isiknng our vision and values, cornmissioning an independent rewv44 into ourthady irnpre55Ne elinical seM¢e, the sUe$S ofthe 'Help Holll appeal. the o)mpletion of the new operdlion5 wing and of technc4ogy to improve our forewkn.ng and manag&ent infom)aiw)n lindudng operatvxa datal which wll ullimately allow us to do more. for more. The second series ol'comwall 999., Produced by awafd wnrhing local cornpany Beagle Media, finished filming in Decernber. broadcast due in spring 2023. The series gnies vwers a unique insight into the work ol ourdinicsans. Thiough the indepentsnt review. we have rdetitified area5 of urmet need, vthr¢h we am to address through adaptalth ofour operating model and ensuring our rcreW have ac¢e5S to the very best equipment and trainrng. This progress and plann9 is possible due to a huge leam efforL Staff, re, Groundcrew volunteers (who donate thousands of hour5 of b.mel Ihe tirss efforts of tyjr supporters who spread the word and are so genero% vrilh their financial contrthbons, whether stwping n one of our storès, taking part in our weekly Lottery. partpakn9 in an event. putb.ng pennies ih Ihe pot or leaving a Wing lÈga¢y through a gift in their VMII. A huge thk you on behalfofevery0 thalwe are to W al thè Wor kne in their INe5. We are yr#Jr ¢lwrity, saviThJ kvesl TIM Buntin9 Chief Execubve OlfKer Dated.. 19th September 2023
CORNWALL AIR AM8ULANCE TRUST (A COMPANY LIWTED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees (who are aso Direths of Ihe Charity lef the Purpo of the Companies Ad) present their annual report together with the audited fincial staternenls of Ihe Comwall Air Ambulan Trust for the year 1 January 2022 to 31 0e¢ember 2022. The Annual report serves the PLtrPOSes of both a Trustees. report and a directors, report under company law. The Trustees confirn) that the Annual report and finarrial statements of the ¢harttable company ¢omply with Ihe current statutory reqU1Ments, the iequifements of the ¢haritabSe Compan$ governing do¢ument and Ihe prov55ions of the Statement of Recommended Pracli¢e ISORP) appli¢¥ble to thariti¢s preparing Iheir accounts in accordance with the Financial Reporting Standard apPCable in the UK and Rep)lIC of Iretand {FRS1021 (effeclive 1 January 2019). sin the Charity and the group qu8&fy as smafi under sethon 383. the stratègic report required of medium and large ¢ompanie5 undef The Companies Act 20C6 (Strategic Report and Directorfs Rep¢) Regulations 2013 is not required.. Obje¢tive3 and acttvitios The piincipal objective of the Charity is relieving pain and sthess for the benefit DI the publ by assistiThJ in the prOvisn of emergency medul services and equipment, in partrcular the prwsion of an air ambulance service or other emergency transportation. primarily in Comwajl and the Is$ of Scilty. These are the purposes of the Charity as sel out in rts Goveming documents. The Charity serves a kjcal community of around 570,000 pewe, together wlh over 5 millKJn wsitus who come to the regKsn every year. The Charity relS on the loc c¢)mmunity to raise sufficient fvnd$ lo deliver the service without receivlng regular governrnenl funding ¢x support from the Nat81 Lottery.The Charity's Critical Care Team5 of Pararnedi¢s. Do¢lors and Pilots provKle enhanced emergery rnedical servus to the most seriously ill and injured patients throughout Cornwall and the Isles of Sulty. These servi¢es are delivwed in partnership with the South Wesknn Ambulance Semce NHS Foundation Trust {SWASfn who support the delivery of the clinical services and Castle "r, based in Liskeard. who operate a Leonardo AW169. registralion G-GRWL. The Charity also operates tr40 criiical care cars, which We uFgr•Jed in 2021, ¢arwng the same specialist lifesaving equipmenl, spe¢iist drugs and the same cfew who woukl nomwlly fly on the air ambulance heliccptef. These cars wovide a backup Servi rf heliccpter is unavailab. predominantly due to poor weather limitation5. Publ1¢ B•n•fit The public benefit provided by Ihe Charity is to anyo and Everyone in Comwall and the Isks of Scilly. includin9 residents and vis¢lors. arKJ although prunarily in the County of Cornwall, also extends to Devon and beyond when %red. The Comwall "r Arnbulance is free at the point of need. on the grounds of fixed sets of criteria which take into acwunl clinical need. urgency. accessibility and distance to h)spital. These criteria are regulady reviewed and rigorou* aled. No wivate benefit use of the Comwau Ambulance helicopter is given to anyone at lime. The Trustees wn the ¢harity %wth due regard to the public benefft guidance issued ty The Charity Commission and the Charity Act 2011. P•3e 5
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUAR4NTEE) TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 STRATeGIC REVIEW 254 li Cèidi3= arrtsts behawourril Élnter-hosp t31 127 23 It has been a busy year for Ihe Cornwall Aif AmlMJlsnce crew who were L75ked to 1,050 incidents during 2022, right across ComwaN and the Isles of Sclty. Our crew have been ready to respond 365 days of the year. to the most sefiousfy si¢k CK injured patients vla our heli¢cyter of one ol our Rapid Reswnse Vehicles. Figures Sh 462 of these missicjns were lo pIe YUred in trauma-related incidents and 254 were in response lo medical emergenrie5. The team of Crit Care Paramedics were also called ¢yrt to 330 cardrac arrests across the year. Each and every one ol txtr supp)rteTS have played a vilal role in suppcxtr"n9 our work. helping lo save lives across our amazing county. Here are a few of the incredilAe stones that hav• onty kéèn possible because of the amazing support we've received over the year. Bayley, Hd5ton. was on his normal crynmule to Yiork in 2022 when he ¢rashed his motorbike after misjudging a ctynef and hil a tree. He came off hi5 motorbike and ended up in a ditch, leavin9 him with intemal injuries. Conscious and able lo reach his phone. he callEd hi5 mwn to let her krw what had h4)pened. Passer$4y quickty realised Ihal Baytey was sevw injured and called 999. Bayley said". .1 remember bw.ng told the amt4Jlarhc was coming, and hearing the noise of the rotor blades above." On 5¢8ne. the crew monitored Bayley's heart rale and administered ketsminè. to help with thè pabn. Thèy also carried out a blood transfusion. which was needed as he had suffered intemal bleedry from both his liver and ung. Page 6
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARAKfEE TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2022 Bayley was airlifted io Derrrford Hospilal. the rnaior trauma ¢entre in Ptymwth. He had suffered a stage four liver laeeralion. bleeding in the lungs and had broken his femur in 0. homas Hennessy Jones. CiitKal Care Paomedic with Cornwall "r Ambulance. said-. "Bayley was incredibly poorfy when we arnved at th& scene, he was very pale and il was ObVuS he wa$ li a bt of pain. We We L>)ncemed about inlemal bleeding follthving the wnpact and he required a blccd transhjsion before we COU airfift him to hosprtal. Things weren't b)king go¢<1 for Bayley. so lo see him here ncAY hcA¥ well he has reCnYer 1$ Temarkable.. Bayley said: 'IV$ real amazing lo meet them. I real appreciate the whole tharity and whal they did for me that day. Ifs so important we have the air ambuknce, I woukln't be here without Mum Stacey added.'"I'm so incredibty gratefvl that we have Comwall Ar Ambulance, 8#yY wouldn't be here without IL it is something that i8 really needed and people should support it" "l could hear the alr ambulance. and It got quite low. and l thought 'oh my gosh is that for us" No one expects to need the air ambulance when ty come on a famiPy holiday to Crynwal. bul one in fNe of our yearly missions are lo VISItS lo the area. Last year. the Chapman famity were on day one of their trip near Padstow when 12-year-old sUffed a sudden anaphylactic shock. Parents Mark and Liz were upstairs in the hofiday accommodation when Samuel shouted, "Il's happening againl". Only a few weeks before he had suffered a feactiC+n where an EpiPen had to be administered and he was tsken lo hospital at hlyne in Berkshire. Samuel had vomited and was deterioratw quiktry. $0 mLwn Lil. WI 1$ als9 a nye. adryMni$lered an EpiPen and gave him Venlolin. After no wnmediate effecl she admThSted a second EPen and called 999. Dad Ma¥k had jumped in the car and was drtvirwj over to the holiday park recepn. ready to meet the land ambulance crew. when he saw Cornwall Ambulan in the sky above. He rushed back and met Critical Care paramedi Jeremy Griffths and Math"n Bunt, taking them lo the aecommodalion. IA¥rk 5aKI= "I was qurte n¢erned that it had happtrned again, the EpiPens are to manage a nul allergy. Samuel had eaten tsvo things that momrny, neither we anliupaled lo have any trace of nuts. My inib'al reaCtn when I saw the helicopter is that cany be for us. ifs far quid(." "I could hear the air ambulance. and Tt gol quite low. and I thought 'oh my gosh ks that for us then., it like minutès since putting the phone down that I could hear if. added Liz. "It was so cth from that p)inl. Th• parnmedics ware very reassuring and talking to Samuel like he was thwr best friend. They gave this wonderful feeling thal all is okay, it was very comforbng. l did feel he was in the st possible hands.. Luckily Samuel was able lo be dischaoed fr¢Yn hospita later Ihat day. The family had a ffjiel few days lo recover then enjoyed the last of their hdiday before returning home to Berkshwe. Py7
CORNWALL AIR AMBULANCE TRUST IA COMPANY LINITED BY GUARANTEEI TRUSTEES REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Liz said-. "They truty are heroe$. I feally do think they ore. The number of times we have driven past your base and seen your signage. not once did we ever think that we'd need you." 2 000 mS$$ions and 3S èars of savln Having launched in 1987, Ccvnwall Air ArnbU[ar celebrated its 35th year of saving lives 2022. Comwall was the ffirst county in the UK to Launch an air ambLtlance helwter. a vilal service that has proven time and time again its nportance in such a rural destinabon. Nthv. 35 years cffi. the crew are tasked to over 1.fJXI emergency missions every year. wilh more than 32.( undef their bells since i the seNce was first launched. Now the charity is busy pLarbning for the fvlure. ensuring the Serv cmlinues to provkle and serve the pecple of C¢)mwall at their greatest bmes of need. A now stattl-thtrart er•wfacili atHQ Comwal AmbuL¥n¢e h¥$ seen fwther grtywth throughout the last year. with extension woth taking place at ils HQ base al Newquay . The ¢harity has been busy planning for Ihe years ahead, ensuring il ¢orttinues to serve the peop of Comwall and th¢ Isles of Scilly. Over the years the ¢harity has grown and extended its operats"ons, wrth the purchase of a AW169 helicopter and increased eoeratsng h¢JJrs frcm 12 to 19 hours a day. Now with a growing lean of 10 crittcal are paramedics. etghl 10T$ and five pilots, the airuv•4 area of the current building ha5 been outgrown. In 2019, the Trust was awarded grant funding of £897.700 from the Department of Health and Social Care t¢)wards a proportion of the buikling Costs for a new ¢rew faolty. the Covid-19 pandemi¢ delayed the $*art of the proJe¢t, work is now nearing Cnpn to extend the exsting infrastructure. ew addltlons to o erations team and facilities AlorvJsde the new facdity. the charity has ¢orttinued to fvrther expand its operational facilities and team. 2022 saw a new Head of Operations appointed al Comwall Ali Ambulance. Andrew°Aif Evans comes from a military background. with extensive experie[ in athabon. operations. SUfVNal training and working for an emergenw disaster rel1 charity. Mearhwhile a ne•4 weather station wa5 in Bvde, kirKly funded by charity ambassthr Dr Karen J Dickens. The new site ass15ts in a¢cufale reporbng of Ifxal o)nditions. making it eaSr than ever lo determine whether Ihe helicopter can fy to in¢#dents in the ncth coasl area. Prewously. pilots relied on infomation from wealher stslions located in Newquay, Penzance and the Is5 of Scilly to gauge weather conditions IA North Corr0811. which wasn't thay5 ae¢urale enough to pemiit a safe launch. Page 8
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The new station doesn't just supwt Comwan kn Ambuknce missKJns. bul also helps other emergency services in the County Iw. Crltical ca aramedi¢s wln award after riskin lives to save * mum and dau hter Last year. hyo Crrnall Ambul8n¢e ¢re members won * award after risking their lives to save a mum and daughter. n a dramatic mission on Ihe C¢Jmish ccAst. 22-yearvold Angharad suffered a seizure and fell 40ft over a during deteriorating weather cOnd"0n5. Critical Care PaTamedi¢s Lisa Ball and Pete Storer have won the Special Inudent Award al the Air Ambulances UK Awards ol Excellen in November 2022. followin9 their incre<lible bravery. The pair had to $Ce the cliff. ¢arrying Iheir 20k9 kit bags and vital drugs. to get down to the patient in a ravine below whtch was be¢ing Ilooded with water. Waves started to Crash over the ledge with the situation beeoming more precarious by the minute, but Pete and Lisa decided not to evacuate. bul stay with the patient and her AIRBUS mum. They knew that if they leQ the would d Lisa Ball. Crits'cal Cale Paramedic. recalled.. We were sheltering behind rocks with waves crashing over us all. We were using all our strength to hold them in plaGe. rf we didn't. they would have been w8shed into the sea. The ¢ondilik)s We getting worse, no one would have got into that water and come oul alive. The power of the waves would have thrown us against the ro¢ks. Pete and I k*ed al each other. we work together a lo( arKI we both knw what the othei wa¥ Ihinkin9. W& couldn't kave them." ius hen the Coaslguaid Search Rescue Team ared, the group IUS were win¢hed to safety with just seconds to spa. Angharad needed rapid stabilisalion for Iraumatlc Fnjuries and was taken to the Royal Comwall Hospital. She spent nine months in hospital. utKlwgoirKJ multiple suryeriÈs. and ncAv she on the road lo recovery. Hèllfest is bom Last year. Cornwall Mr Ambulance hosted its very fit blue lighl festwal. Helrfesl. The one4ay event in Padslow saw 2,000 pIe tiock 1¢ the site for INe music. circus entertainment. exhbi ib'ons woJkshops. food and drink, artd to meet $tyne of the aircrew. Vitors were able ta see the charity's AW169 helicopt•r up close for the first time, after il arrived during the earfy stsges of the Covid pandemK. on9 with stalls fr¢)m South West Ambulance Servi, Cornwall Blood 8ikes. Devon and Cornwall Police. ComwaN File Service, The British Arniy. RNLI. HM Coastguard and The National Coast watch. Page 9
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARAWTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Su from Ambassado Cwwall Arnbulance ambassadof Rrhard Madeley has slThn an incredible amount of support over the Fast year. by raising £62.500 for Ihe charity on a cetebrity speciat ofl•lho Wants To Be A hth'llH)nabre? Both Richard and his wfe Judy Finnigan Sha a h)ve for Cornwall and as advocates for Comwall Ar Ambulance Tt {CAATI, they help shine a spolkn.ghl on the Charity to hdp raise funds for this lifesavin9 service. Richard said.. 'Comwall because of its topography and its coasuine can be tricky to get pwamedti and ambuL¥w out to emergen¢ies. it's a trKky Jandscape. Without a heficoptei I ambulance sefvice, the bme that it could lake could prove to be fatsl. The helicopter and crew genuinely save lives. notjust by getting patients to hospital but by giving them care there and then. 11 makes an absolute difference." ol Cam al n 'do1i hts. su rtérs For the first time ever, Comwèn r Ambulance released its very thvn animation for the charity's 2022 Christrnas campaign. 'Help Holly follcws the story of a young gid who is injured in a road traffic collision. before being treated and airtifted by our Cfitical care paramedKs. The qu( response means she's able to spend Christmas 81 h¢yne wth her famity. The moving story is based on real events. Alongstde the wdeo is 8 soundtrack. 7written and recorded espec4aNy for Cornwall Ambulance. 'Blades in the Sky. was cleated by BAFTA ard winning TV and film composei Ben Bartlett, whose works i[Ulje ttre music for rrv's Ver8 and the BBC'S Walking Dinosaurs. Ben visited the airb#se and was inspired by the helicopter, the people and the lrf&saving work of the charity. Local singers from across Cornwall We brought on board to n9 in the track, induding an airtifted paInt 11 was originaty meant for the arrwal of Comwall Air Ambulance's AW169 helicopter in 2020. but il was never finished as the pandemK strud( just before it was recorded. The campatgn raised over É200.(KIO. all¢M¥rfJ Comwall AirAmbulance to carry out its missions over the 2022 festive period. Page 10
CORNWALL AIR AMBULANCE TRUST (A COMPANY UMITED BY GUARAKtEE) TRUSTEES REPORT (CONTINVED) FOR THE YEAR ENDED 31 DECEM8ER 2022 r¥tional •rfomian¢¢ 2022 had a challenging start to the year as a change in the Air Operator CertffjKale and enginewing support service provrfler in late 2021 began the year with GIRWL on ils annual SerVe schedule. Due to ¢onlra hangeover this was exlended. with ils retum to service being in April. Further night training and Cwil Aviation Authority ¢ertificalions were cornpleted in June. whereupon a full 19 hour a day heh¢opler serv commen¢ed. With two separate long term pik)l injury issues. lull helicopter availability has remained an issue throughout the year. whi¢h is rellected ift the slight slmft ltrward5 Rapid Response VelM"clel helicopter response ratio for the year. Despite ¢halknges. 2022 has been a year of C*)ntinual improvement culrninatiro in the la51 quarter having onty 2% of availability k1 due to hefwer technul is$. and Ihe annual total of responses being similar lo previous year5. Category ledKal 2 Traurna 477 carfC •lrre5t 331 Vehicle Crit Care Car Helicopter This year also saw construction start on thè £1.9M new operalions buikling to fUturOOf a larger nLmber of erew based in operations and provide state•of4he4rt facilikn"e5 for the crew. This will become cyeralional in May 2023. Paye11
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARAPITEE) TRUSTEES REPORT (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 The Rapid Response Vehicles Came lo the end of therr pned lrfespan this year and were replaced and upgradetj in May, to bespoke Volvo Cross Country B6 mild hybrid estate cars. kJ21lLX The Operator Certifttle and engineering support service provider change in late 2021 saw the pilots become full time Cornwall Ambulance employees. Further operational team reslrucluring continued with a new Head of Operations rde s18"n9 in earty January. and hearth and safetylfacilitTres and airside operations management responsibilities being separaled into Operations Support Mager and Facility and Assets Manager roles. During 2022 the seu)nd letevisitin sÈriÈ$ ot 'Comwall Air 999" was filmed over the second hAW of the yèar. capturing the crew's woth delr¥erirvJ crit ca to the people of Comwall and Ihe Isles of Scilly. This is being aire(l in earty 2023. To inform the CornwJl Air Ambulance fLrture medul m&Jel Strate and direction. an intyndent review was undertaken this year to recommend what improvements were needed lo best serve the CTth"cal care needs of the people of C¢ynw*l and the Isles of Scilty and belter reach currenuy unmet critical car8 needs. This review deliver1 12 recommenda1)n$ that will be implemenied over the next 24 monU)s. Wth this year betng one of great change. there ha5 been considerable consolidation and progress with new response vehiGles, a new Operations HQ OFening. a resttuctured Operabons Team (including pilots as charity empjoyeesl, a medical strategK direcb.on and a Operator Certificate and engineering support service provhder. and we a in a very strong Frt)sition for 2023. PwJe 12
CORNWALL AIR AMBULANCE TRUST IA COMPANY Lll4llTED BY GuARAEEl TRUSTEES REPORT (CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER2022 DÈlive of our services would not be ible without tho ¢tsntribution of our artnets: South Westem Ambulan¢e Service NHS Foundation Trust Cormvall Air Ambulance is part of a fvlty inlegraled resF4)rtse lo emergencies in Cornwall. facrfitated through the South Westem Ambulance SefVI NHS Foundation Twst Tr ambulance seryice is contra¢led through Service Level Agrnent for the pw5ion of a team of p8ramedK5 dediGated lo air ambula& operations. deployment on emergency missions from their Emergency ClinKal Hub in Exeter aTrJ the clinical governare and oversight of Ihe paramedic5 and dcdots. Royal Cornwall Hospitals NHS Trust (RcHf) and Univernlty Hospltal$ Ptymouth NHS Trust {Derrlford) The charity works wilh a small team of doctors lo carry out the Tde of education support physicians fow the development of speoalisl paramedic aircrew and to undertake clinical shifts as part of the crew bringin9 specialist skills Ipartiujlarty the prlSiOn of Pre-HOSpit Emergerty Anaesthesia). Comwall Blood Bikes The Blood Transfusion SeThice al RCHT also support the charity with the SLwly of blcth product for the seNi¢e. whreh is delNered daity lo the airbase by a team of vdunteer rTrders. Comwall & Isles of Scilly Integrated Carè System {ICSI We continue to work closely acTOSS the healthcare community. This results in greater elS of engagement beN¥een the charity and the ICS, $upporb"rg heatth¢are ¥ross the wiort. Castle Air Comwall Air Ambulance aFpoinled Caslle Air as the tharity's new helicopter operator in 2021. While the charity owns the AW169 helicopter. Cas1 AJ"r hc4ds the opeoling license for the aircr*t and is responsib for the maintenance of the AW169 and bad(•UP AW109 heticopters. Other key stak•hold¢r partn•rs In¢lude: Air Ambul8nce5 UK Brislow {Search and Rescue) Comwall Airport Newquay Cornwall COU1 der ernerger Servi partnws Groundcrow play vltal ro oncè again Comwall Air AmbUlae would not operate withcAJt the support of its volunteers. known as the 'GroundcTew'. Charity retail maintain5 se¥ shcp5 With paid staff supporting the many volunteers. The charity coukl nol operate the shops Mlhoul the support of volunteers and the hard work of the teams to ensure volunteers are safe, happy and understand their value to the charity. Investing in Volunteers status was achieved for a second time in 2022, and this is testament to all the efforts of staff and volunteers who maintain the prcKesses and procedures on a daity basis. The volunteers who SLPPOrt&J the charity through communty fdryd1$in9 al summer events during 2022 attended a thank you leb[all0n at the end of the yeaf. The volunteers had a ¢han¢e lo meet and chat with ea¢h other and the team, listen to how their efforts W helped the charity and that going into the new year. things We going lo be developed a liltle lo help events Nn smoother. Many of the volunteers thanked the tsam for puth'ng on this event and expressed how much they enjoyed spreading the word about the charity when they were in their communities representing Cornwall Air Ambulance. For many. vdunleering for Comwall Air Ambulance gives them a sense of puw. arnl for one in parlicular he feels his life has been saved by the tharity. Page 13
CORNWALL AIR AMBULANCE TRUST (A COMPANY UMITED BY GUAWITEE) TRUSTEES REPORT (CONTINUEDTr FOR THE YEAR ENDED 31 DECEPABER 2022 Hèadllne Groundcrew Stats: 287 volunteers 35,707.75 hours £332.664.80 wages saved Increasing lundr•ising opportunities Comwall'5 rnOtlo'Onan hag Oll., whth in English means'one and AW, is a sentiment of unity that pervades the Cornish SPITII and ha5 defined it5 charaGler. The ¢harity woths hard to raisè the exiremely vital funds to enable the crew to deliver Iheir lifesaving work, and the goal is to continuously raise awareness. whilst Inspiring the pubh'c to support Comwall "r AmbularKe. To ensu the Charity meets these objeIves, a split and mixed portfolio of income generating actiwlies has been created. designed to resonate acros5 SUPPQrters and appeal to a full cros5 section of the public awjnng the ch*ity appeals to a greater geodemo9raphic, embracing the theme of unty and One and All. This approach is prowng successful for Comwall Aw Ambulance al is designed lo gNe the ch8rity greater resilience. The team are develcping a Forlfc4io of in¢(Mne aimed at enabling them to grow in¢ome streams $wnu1t8neous klentifying Potential new avenues and OppnitieS for growth. Working closety with coneagués ensures the charity's actiVitS are maJketed to the appropriate audience. in a pwerfully inspiring manner that reflects and demonslr¥les the charity's vision.. of afvlays being agile to future opportuntb'es. and aspirsng to be Ihe best in everything. strwing for cMbnu(yus ¥nprovement Cornwall r Ambulan is so grateful to each aTKI every one of ils supporters for their passionate support". th kind and generous gifts to the charity. as it undertakes the obJ'ectNes of saving time and saving lives. Thank you to our loyal lottery players Our lottery players fund an amazing one in every four of our missions. The lottery hty•ftver was $ub$tantially and adversety affected during Cowd, as the effect of the kxkdown impacted our ability to continue to Page14
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEE) YRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2022 recruitment for new lottery pkyers was no kn9er possle. Subsequently the charity experierKed a decline in new players. and was reiianl on e$ts"ng players b)yally retainiryJ their subscriptions. Compounding this. the charity lost several longstsnding canvassers. due to cirujmslances outside of bts control. Comwall Air Arnbulan¢e was ased to eventuatly restart rts lottery ¢anv355ing when Tt was considered safe to do 50. Follrming Ihis p10d, Ihe charfy has tried exceptiOAalty hard to rebjild the lottery to. pre-covid leve15. It has undertaken a rebrand from Mission Maker lo the "C¢xnwaJl Ar Arnbuknce Lollery. which is a fanlasti¢ way to create a guaranteed regular income f¢Y the Charity. The lottery is managed by an external lottery manager. "Lottery Fundrai$ing SeNice$ Ltd., ILFSI a Gambling Commission accredited operator who wort under the superyision of the Cornwall Ambulance Tfusfs team. The Senior Fundraising Manager along with the Chf Executive hold the Gamblin9 LnCe. Loltery lundraisin9 being reguL3tsd under both Gambling Commission laws and Fundraising Re9ulalor Codes of Practice. The charity holds quarterfy comlanCe meetings with the lottery fttndraising operat(x and undertakes reviews of canvassing actNities. The charity team provhde an induction to CorrMaN Air Ambulance whilst LFS provides the training ol fundraisers engaged directy in cThnmunuling with the publ¢. LFS agents proudly wear the charity's newty rebranded clothing. The tharity has also inlroduced a 'Super Dr and has undertaken a lelephone campavJn invits'ng estIng loyal canvassers to increase their play from £4.34 per month to £5 month, abling them lo be entered in a new Annual Super Draw - the first draw is in 2024. The team have been delighted by the response with some people taking on more numbers. Followin9 a lottery canvasser fftrurtment (npaign. the tharity is pleased to wekome new c8nva55ers lo the team and is equally delighted to report il is having a successful impact engaging in local communities. Current indications show that the numbers of people supporting the charity are once 89ain in¢reasing. Legacies eontinue to the foundatk>n of our Income An amazing one in three of every one of our missions is funded by 9fis in Wills each year. That's an redible 350 life saving missions that were paid f¢y by generous people who tS)rtated to us in this way. We simply Gouldn't do the work that we do wilhout this imFQrtant income stream ~ and we really th) 8ppreciale gifts of all sizes. In 2022 we raised £3.5 miifion from gifts in WIES, which is a gruwth of 166% from 2016 and an increase from 2021 of nearly £1.2 million. The syccess of our lega work was recenty ad[nIledged al the ptiOUS Smee & Ford Legacy Giving Awards with our Senior Fundraising Manager, Debbie Henshaw being selected as a finalist in the 'Outstanding Individual in Legacy F4rndraising' cate90ry havin9 brought in over £12 million in legaw income since joining the charity. A gift in a Ihfjll can be a simple yet meantWI way to ensure that Comwatl Air Ambulance can continue lis lifesaving miss*3ns. making a p05ib.ve differen to famrties even after their death. Page 15
CORNWALL AIR AM8ULANCE TRUST IA COMPANY UMITED BY GUAFLANTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 It's all about thtr storytellin9 The charity is f¢)¢ussed on raising awareness of its brand to both existing and new audiences u3ing digital and offline mmUnICation channels with a stronger f<xus than evèr befo M sharing patient storie5. With the growing importance of dKJital MmunICations. Ihe marketing and communications team has a growin9 focu5 ¢)n using video lo heb engage SUFWters. a150 tak¥vJ them to the frc4)t line of our ¢peralions. Fundraising Promls The charity adheres to the very hKJhest standards in th)nor core and lundraising compliance as sel in the Code of Fvndrnising Practice. Cornw1 Air Ambulance 15 gIstered th Ihe Fundraising Regulab)r and agrees to ensure its fundraising is legal, open. honest and fesFectful. The charity's own Fundratsing Promis• outlines the ¢ommilmenl il makes to donors and the public. and 1tr3ether with the Complaints Policy and the CommunicatTrons and Privacy Policie5. can be found cfi the Comwall Air Ambulance website 6SO,000 items sold acr(w ¢)ur retsil stores 2022 was an iricredibty $u¢¢essful year fty the Comwall Ambulance relali team. who brought in £1.2million of incune to the charity. This was am impressNe achIeVent following the challenge5 of the Covid-19 pandemiG the pviouS years. The team re-eslabli5hed Telationships with regular customers who returned lo [-t0¥fa ShOpn9 and kept measures as sueens to ensure customers, stsff and volunteers felt safe. Income and donations went back lo pre-pandèmic levets. with a total of 665.000 items being sold across the seven shops within the 12-month perK)d. Key Sims for retail acros5 the year included the continued excdlence in customer service, Gift sHJn ups and increased charity awareness withln all stores. During the year, the ¢harty employed new retail managers arKI logi4b"¢s ijrivers. making sure all sevan stores are ful staffed. The success of the eharity's retail team would not be possible without thè hArtI work and dedication of the shop volunteers. The strong CO of Gfound¢few relumed lo vdunteering, kindly dedicating their lime lo everything from steaming clothes to sorting donations, mth.ng sure the Shops njn smoothty. Following a strong lirst year out of Covid and looking to the fuiure, the goaf is to expand retail though opening new sto$ across Comwall WKI refve5hing the extsting one5. 11 is hoped that this will generate further income and further increase the charity's presence within to1 communities. UR FUTURE DIRECTION Dèvè ments 2023 & b ond Assesslng and enhanclng patlent needs The charity untjertook a project to evaluate artd make re(x)mmdats)ns on its current 5ervi¢e provision. This was delivered by Professor Oawd Lockey who is the Clinul Director for the SeveTn Major Trauma NeOr1( and is also a Consultant, Rèsearch Lead and Trustee al London's Air Ambulance. Following exi¢n$ive res¥arch of the Comwal Air Ambulance's operalion5 antl following subsequent inlerviews with the clinical team5. Profe550r Leckey produced a series of recornmendalnS which were adopted by the Board in earfy 2023.These will be implemented over the next 12-18 months. Newwebsite on the way The Trust will deliver a new improved website durir¥J the year whth will hetp it to engage moTe effectively wilh its visitors. 51 will give improved c(Mnpalibilily wrth md)ile and tsblet users as well a5 enhance its capacity to hosl and embed wdeo and sttial conlenl. The website wrfl also have the capacity to deliver an improved e4ommerce fa¢ifjty. Asplrlng for'Award Recognition. Cornwall Ar Arnbunce is being ccnsidered for award stslus folirMirvJ the Chri51mas fuTraraising campaign 'Help Holty.. with btslh the Third Se¢tor and Air Ambulances UK. 16
CORNWALL AIR AMBULANCE TRUST {A COMPANY LIMtTED BY GUARANTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDEO 31 DECEMBER 2022 Focusin9 On $ustainablÈ in¢ome Running alongsKle series of 'Comwall Air 999. on Quest TV and Discovery + the Tru51 wll be launching a new regular giving Campaign amed at attracb.ng ccxmmitted donors. The ¢ampawn will focus on a number of patients who have been hdped by the clwity. The cwaign tun on TV. digital platlorns a$ well as through offline channels. Our Thanks To You The peopje ol ConMall and beyond have shNn thar ino¥&JAe generosity thr¢JJghout 2022. In a record-breaking year, they have ratsed the vital frjnds needed to keep Comwall Air Ambulance resndIng to emergencies 365 days a ye. The charity would like ts extend its heartfell Ihanks to every iTHIMdual. business and comrnunily gTOUP who fundraised. held an event, tcd( on a challenge or Fx)pped 8 penny in the pol for the charity - Tt 811 makes a h[e dIffeO¢e. 11 also exterKls it grateful thanks to all 287 Groundcrew. WIoUt whth the Charity could not continue lo provide a lifesavin9 seNi¢e to the people of Comwall and the Isle5 of S¢illy. A final thank you to Comwall Ambulanc•'s Royal Patron, HRH the former Duchess of Cornwall, President Colonel Edward BcAitho OBE arxl Vice President Bart)ara Sharples, and all wr dedicated ambassadors. Financial Review Key Perforniance Indicators Key Financi Perfornan Indi¢*or5 {KPI'sl are a rnea5urabb ye that demon$lr¥le effe¢tNely we ara doin9 in a¢hieviro our key business gO5_ As part of our monthty Management kcounls. we ath.vejy measure and monitor the pounds raised pe employee and Ihe percentage relating to our Charitabk Objects. These 5tati51ics enable Trustees lo understand in real time the performance or contribution of each activity. In addition. the Charity Relail A$slatIOn collect and publish retail KPIS which enable the Charity Shops to be benchmarked against oiher similar retail Charity Shops. This infomiation is used to help assess how our Charity Retail Shops meet the targets an¢J expe¢talions of the Board in tems of Relum on Investment. li also as&sts in measuring how well ihey perform as a contsibukn.on t(r•Rrds Ihe cause. Annually. we monitor the overall performance for the year. especRlly the percentage of funds committed direct to the cause. total new assets. fvnds set aside for erVeS and the des)gnated helicopter replacement fund. Performance Review Despite recent uncertainty in th• workl's economy thè Charity conbnues lo deliver stron9 fin8n¢ial perfomiance. The year end position is snIfiCan11Y above e¥pe¢tsts"ons increased income acTOSS virtualty all areas offsetb'ng increased expenditure. The Chanty's Relum on Investsnenl for the year IROII of 7.9.. 1 is a significant increase ¢pared to previous years due to the excepkn.onal income. Perfomance ofthe prevTOUS years were as follows- 2021 ROI of 5.4'.1 and 2020 ROI of 5.8.. 1 PwJe 17
CORNWALL AJR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 In¢c41 . EXP0ThilUre 1 474Skq 2bi4 -l*¢th Incomè Inme increased in 2022 to £11.&U crxnpa.red to £6.5M in 2021 despite Lottery dropping by £83K. Donations We up by £2.7M and Leg&ies which <y)ntinue to make a signikanl contribution to income, increased by neady É1.2M over 2021. Charity retail has recovered weN post Covid restriction5 and increased by more than 50% from £0.8M lo nearty £1.3M. In aldition to the above. the 2022 in¢ome also includes a restricted DHSC grant of £897.700 trpwarits the new Lyew Ixl'ty bUij1ng. Expenditure The Charity's focus on cost control has hdped us ddNer effiuenaes and ensure thal the majority of income is directed to deliver the Charity's objectyves. To that end. 87% Iprèvitiu$ly 82% in 2021 and 2020} of expenditure has been used to support aviab'on and dinical operations or Set a5Kle to support development of operational semces in the fvturè. The dire¢t Operating costs of the helicopter and dinical setvices wère £5.3M lan increase on the £4.2M in 2021}. Direct operaling Costs include the charity's ownership of th¢ helicopter, employment of the pth. promsion of ¢lini¢al $taff and 19 IKsurslday service delivery. EXPEMTrTrRE 2Q22 Page 18
CORNWALL AIR AMBULANCE TRUST (A COMPANY UMITED BY GUARANTEE) TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 OECEMBER 2022 rradlng Subsldiary The Charity5 trading subsidiary witinued ils acliwties in 2022 ft>tsJssed on nonyThary purpose aclmties piimarily the commercial sponsorship actItIeS undertaken by the charity. The trading company delivered an Operating Profil of£7K wtrwch was donated lo the Charity. FINANCIAL POLICIES Re$eTves Policy The Trustees have eslablished a ReseNes polw lo ensure the conlinuation of the air ambulance service in the event of a shortfall of income over expendilure in any one year or if a majoi fijnding SIaM slops abruptjy. The seNe leve15 have been sel to be sufficsent to cover day to day active$, Cover unplanned emergency repairs and respond to ¢harKJe arnl opportunity. The reserves pow is formalty fftviewed by the Trustees &ich year and accoLmt is taken ol Ihe Charity Commission guKlarKe (CC191 on reserves. The reservÈs policy was reviewed at the November 2022 board meeting and having ten account of the risk analysis. primarily financial and operab"¢nal, the probability of I0redUction of inccme generatson. the extent of the contractual commitments for the ou¢sour¢ed helicopter swmces and Ihe need to meet Ihe challenge5 associated with the procurement of the new helicopter. the Trustees concfuded Ihat a minimum of £2.65 million free reserves should be maintained. This reseNes policy will be subject lo further review during 2023. At the end of 2022. the charis total funds were o¥ef £23.7M (Incre f(om £19.3M in 20211. which were made up as fdlows.. RESERVES IN 2022 FA$Sl5- WJ69+tfkntotfT Rep*empnt I51mnt The resultant free reserves of £8.9M is •b(Ne the level reqUId in the agreed reseThes policy. The Charity plans to use the Surplus free reserves to deliver an hanCed operatwjnal ar medical service to Comwall and the Isles of S¢ilty. Material Investments Pollcy The Charity's inveslrnenl powers we govemed by the Charity's Artides of Assc¢iation and pemiit the Charity's fvnds to be invested in a ¥¢ range of assels. The Board of Trustees is resppnsible for setting the Page19
CORNWALL AIR AMBULANCE TRUST IA COMPANY UIIITED BY GUAii4MfEEI TRUSTEES REPORT ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Inveslment lcY and has delegated the ongoing monitoring to the Finance sub Committee, while Quilter Chev¢ot proVe dIretIonary investment and cash management ser¥e5 to the Charity. The Charity's policy remains to instruct their advisers lo operate wthin medium risk parameters to secufe reasonable investrnent income and 5UStain moderate Capit growth. The Chaiity hdd investmenis on 31 Oecember 2022 with a market vakR of £3,091 K12021: £3,578K). This refle¢is a nel unreised loss in ihe ptytfO1 value of £487 The investments ar¢ held ¥$ part of the Charivs free reswvè$. Income from the portfolio is paid into the Charity's bank account on a (warterfy basis. In 2022 the total inwn¢ generate<l increased to £99K from last y"earfs Inco of £951 The investment portfolio is held in a Global Income 8 Growih Fund for Charities, managed by Quilter Cheviot. This funds investment objectives are idenkncal to those of the Charity but with reduced inve5tsnenl management fees. Whilst the fund has reduced in value over the last year overall, it has demonstrated moderate capitsl growlh since ts inth.al investh)enl in 2017. The Charity also holds dep)sils of £9.87M wFh e hekl at UK regulated banks and other cash and investment acwunts. HNANCJAL HEALTHIGOING CONCERN Recent uncertainty in the wodd's economy with high inflation. low 9rovAh and a "cOstf41ng. crisis has Ineviiabty had ¢onsequefi¢es ftr the Charity. The Charity has a $trong reserves ptssits"on. has takttn steps mib.gale risk and is adapting its strategy to changing market conditions. The signrfunt levels of cash. investments and free SeNe$ al the yearr)d give the Trustees a reasonable expectats'on that the Charity has atyuale reSoUrS lo continue in operational exlence for the foreseeable fvlure. For this reason, they ¢onlinu& to adopt the g¢ing wi¢em basis in pTrpanng the ffinanaal statements. Further detsil$ fe9arding the adoplM)n of the gc¥ng concern basis can be found in the Accwnb"ng Policies. STRUCTURi GOVERNANCE ANO hlANAGEMENT Constitution The Charity arKI the group is registered as a charitable company limited by guarantee and was set up by a mOrandm & Arudes OfAsSl30n on 24 November 2009. The Charity and the group is txnsb"luted under 8 MemoraThJum & Artides ofAsscciation dated 24 November 2009 and is a registered charity number 1133295. Board and Committees The Trustees exercise govemance by mÈab'ng as a BO quarterly throughcxrt Ihe year to Teview Strategy and performance. oversee risk5 and ensure that the charity ¢omph'e$ wilh all legal and regulatory requirements. The Board is swjpryted by three ty)n executive led c¢Jnmtitees. Finance Risk and Audit NcKnInatS and Remuneratjon M•thod$ of appolntment or elt¢tion of Tnt•e$ It is the Trustees. aim io ensure that an appropriate rnix of sklls and experience is maintsined on the Board of Trustees. Potential Trustees are invited to appty through open recTUitment prctesses. and are interviewed by external non executive recruilmenl specialists and a Committee of the Board who assess thèr suitability. In 2018. the Trustees made changes lo their Governing Document relatiry to the reappoinbment of Trustees compleb'ng their third term ol service. Thts amendmen( approved by the Charity Commi55ion. permits a Director (Trustee) who has served 9 years. lo be ie elected on an annu basis provided their re election has the fvll support of the remaind¥ of the Board. This charrfJe lo the Goveming Dctumenl was made to provide
CORNWALL AIR AI4IBULANCE TRUST IA COMPANY UPIIITEO BY GUAIL4NTEE TRUSTEES REPORT ICONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 full flexibility. and reduce the risk of k)>rKJ a Dyector wrfh key eXF"Se at the wrong nv)menl during evolving strale9y. The Trustees WOld like to reco9nise the Supp received from Mrs Barbara Sharples and Mr Chrls Pomfret who both rekn.red fiom the Board in Juty 2022. Mrs Barbara Sharples remains a member of the Philanthropy Foium and was apwnled Chaif ofthe Phrfanthrrw Forum in Wll 2022. Pollclè$ adopted for the induction and training of Tntee$ The Charity provides a induction programme for new Truslees. Th indudes provrding Trustees with an organisation email addiess and e$S to a dedicated SharePrinl sile with Charity infomiafy'on and financial data. From lime to time each Trustee can attend training ar trustees neorking events. days covering aspects of Governance and trustee responsibilities irtluding training WLth Cwil SocietyNCVO in London aTh locany based experts n the Charity SeLor. Organisational Structure The Board of Trustees delege the day to day runnwig of the chty to the Ch1 Executive Officer. The organisalional management is delegated between three distinct areas of wort, Inccqne & External Engagement {Fundraisin9. Marketing & Communt¢alions aThJ Retail departmenlsl, Operational Dèlivery (Delivery of the HEMS. Health & Safety and Infraslrucbjre - bolh land and airside) and Support Functions (Finance & Business Intelligence and HR Ivdunteers and Stsffjl. Exh department has a Manager, who fom)s part of the charity Lèadership Tearn reporbng directly into the Chief Executive. This provides Clear lines of ccffnmunication and resilEncE within the Ofganisation. allcwing for fubjre investment and potential growth. as well as deveh)p¥nent. Trading Subsldiary Cornwall Arr Ambulance Trndirtg Limited, is a whony Tradry SubsTrJiary of the man Charty, Company Number 10227352 and the Directors of that company are the Chief Executive Officer, the Head ol Finance & Business InteNigence (Company Secretary) and trwo Trustees indud1 the Chair of the FÈnance Cornmittee. Trustees have considered the requirement for an independent Dire¢tor of the Trading Company but while the trading activity remains rninimal the OirectOTS will maIn as currently appointed. The Directors of the Tradin9 Subsidiary are clear on the requirement to act in the interests of the Company when making decisions. Scheme of Delegation A schedule of delegated authfxrty, set by the Board of Trustee5. govems the extent to which poli¢y de¢ision5, conlTac15. pur¢hasing. salaries, payments and other key business decish)ns can be made by the Senior Leadership Team and Managers. including contrc4$ for very high levd decisA$ around ¢ash management and investmertts where the Board itself has ullimale control The Schedu of delegated authority was updated and approved by the board of truslees in October 2021 R•gulation The charity is regulated by the Charity Commission as a registered charity and by the Gambling Commission lor its lottery and raffie activiti The Charity has also pasd its voluniary levy to the Fundraising R¢9ulalor. The Charity is also registered with the Informatw)n Commissioners Olfre and o)mpltes with the Data Protection Act 2018. Pap21
CORNWALL AIR AMBULANCE TRUST (A COMPANY LIMITED 8Y GUARANTEEI TRUSTEES REPORT (CO11NuED1 FOR THE YEAR ENDED 31 DECEMBER 2022 RISK MANAGEMENT The Truslees have ass055ed the major risks ¢0 which the Charity and the group is eXped. In particular who is related lo the operations and finances of the Charity and the group and are satisfied that system$ and pr¢xedures a in place lo mitigate our exposure lo the major risks. Corwall Air Ambulan Trust operates a Board knl Risk Audit Cornrrttee. whKh meets fwr lirnes year and report5 to the Board of Trustees. Risk management is a fvndamental element of the Charity's business strategy on all ¥S and enC(seS different of risk. It 15 therefore an integral part of the business planning and corttrdling proSe$. The Committee has resp%lIty for ensuring the adeqLW of risk mana9emenl. internal control and governance arrangemen15 on the implementsiion of a Strategic plan and l¢le$ of the Charity. 11 is also responsible for reviewing the inte91ity of the annual report and financ1 statements. Fdl¢ywin9 Ihe annual revEw of Tecenl urKertaintses. the maj'or risks cvffentty kang the charity have been identified as-. Nature of Risk Primary aircraft IG-CRIfvL) availabih'ty. Mitb atlon conb.nuaf improvement plan in place with en9ineering Servi prov¢der. Poteniial second airuaft as a back up lo the primary aircraft bein active ex ed. Current finanal stability and diversified income streams provide mitigats"on. Ability to adapt ¢osts and Overheads oveT time. Conlinual improvement into reach and engagernerht tether With ongoing strategy revth¥. Reserves reviewed and are consKlered appropriate at this time and will be re9ularly reviewed on 8 risk-based roa0. ' Folkyw prioritised apprDth to attain and ewdertt complian. HQ, Hosted and V¥eb server now passing PCI s¢arts. ConlinLral improvement plan undeThvay. E¢on¢)mic uncertainty. Combined Cyber risks the hpJhest being data breh. Resilience in key positw)ns, due to tean structure. Lack of sUssIon planning arKI forward thinking. Clearef strategy and target an understanding of the resources needed to achieve this. Review working culiure with the creation of the CuEbJTe Committee to optimi$e the workir¥J environment and provide an em ee voice. Install EAPS {Eryine protection 5ysieml a5 $oon as available. Avoid operating in contaminated environments wherever ssible. Engine damage lo &CRWL operating wilhoul EAPS for 2023. All risks identified by the charity. including the above major risks are continuou5ty monitored and 5ignrficanl management time is invested in mitigalirrfJ these llsks to minwnise the probability of ctturren¢e and potential impact on the Charity if they were lo orxur. Page 22
CORNWALL AIR AfvIBULANCE TRUST IA COMPANY UMITED BY GUARANTEE TRUSTEES REPORT (COlmNUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Pay Policy The SucsS of the Charity is largety dependent on its aknrty to attrac and relain talented staff. with appropriate skills. who share ils core values and passb)n for the cause of saving lives. The Charity is therefofe wmmitted lo investing in its people, both from a remuneration perspectnrt and in temis of their professional and personal develcynent. The Charivs remuneration policy aims to ensu Ihat refie¢t the knotr. skills, sponSIbl1rtles and personal competencies required for the salisfactory perfomiance of eath ro. Salaries are reviewed annually and knchmarked ainSt the chafity sector kM21ty and regicmally. We want to attract and retain the very best tslenl - ¢realirvJ clear career pathways for our stsff teams who are vital to ensuring we can operate to the highest standards. Recruiting in some areas of the charity team has proven dIffitt al times, nce CorrAYall has tradibonally had lower s4aries than in other parts of the UK an¢J the demand for s¢xne skillsets has been high. Following on a pay review in 2022. board agreed to adopt the Real Liwng Wage foundab.on commitment to payiTrJ staff equitthy. We will also be eating one pay scale for both our retail and headquartered based staff - lo encourage development behyeen drtferent areas of Ihe organisation. Vve continue to benchmk our Salaries against s¥nifar organisalions both in tem of geography and type. Salaries of the Leadership Team. incfuding the Chief Executive Officer afe reviewed annually. based on performance, by the RernUneratn Committee before bein9 ratified by the Board ofTruslees. Senior EXtIVe Pay Dlsclosure The charity acknowledges the recOmMendatK of the ReFtyYt of the Irbluiry inlo Charity Senior Executive Pay and Guidance for Trustees on Setting Remuneration by the UK NalHJnal Councd for Voluntary OrganisatKJrss {NCVO). The inquiry avOcateS greater transpamcy and the Chartty reccgnises and ac¢epls those recommendati¢Ms. As a $VIt. the Charity prowdes detsib of the nLber o151aff whose remuneration is £60.CQO or more. in salary barKts of £10.CyJO. publishes its Pay Policy and ulilises ratios lo help determine senior execJJtive pay. The Charity is Committed to openness transparency on senr pay and VAII continue to kP this under review. Funds held as custodian There are no lunds held by the Charity on behalf of aTh)ther charity or projecL Page 23
CORNWALL AIR AMBULANCE TRUST (A COMPANY LIMITED BY GUARANTEEI TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 STATEMENT OF TRUSTEES. RESPONSIBILMES The Trustees (wl a also the dire¢lors of the Charity for the purposes of wmpany law) are respISibItr for preparing the Trustees. report and the financial statements in accordance with applicable law United Kingdom Ace£•unling Standards IUn¢ted lfjngdom Generalty Accepted Accounting Pract£). Company law requwes the Trustees to prep financial statements for exh finawal year. Under ccrfnpany law the Trustees must not approve the financial statements unfe5s they are satisfied that they give a true and fair view of the state of affair5 of the Gloup and the Charity and of thr 0)MIng resources and appli¢atiorb of resources, induding their inco¥ne and expenditijre. for Ihat period. In preparing these financial ststements, the Trustets are required to: select suitsble acGounling pdi¢ies and then appty them nsIstenY'. obseNe the methcJs and prinaples of the Charities SORP (FRS 102),. make judgments and a¢counb"ng estimates that are reasonable and Prudent. slaie whelhef applicable UK Accounting Standards IFRS 1021 have been tslltrwed. subject to any material departures dis¢k)sed and explaned in the finan¢ial $tatwnents,' prepare the financial statements on the goirwj concern basis unle55 it 15 inapprcpriale to presume thal the GrJp will continue in business. The Trustees are respongble for keeping adequate a¢untIng records that are SLtfficienl to show and explain the Group and the Charity's transactions and disd05e with reasonable accuracy 31 any time the financial position ol the Group and the Charity and enable them to ensure that the finarrial slalements comply with the Companies Act 20C6. They a¥e a150 responsle for safe9uarding the assets of the Group and the Charity aThJ hence taking reasonable steps for the preventKJn and detection of fraud and other irregularilies. Dls¢losur• of Infomiation to auditors Each of the person5 who are Trustees 31 the time when this Trustees. raport is approved has confitmed that so far as that Tvustee is aware. there is Th) relewanl audil infomialion of wtrmeh the tharitable group's audit¢y$ are unaware, and ihat Trustee has taken all the steps that ought to have been taken as a Trustee in order lo be aware of any relevant #udil infonnab.on and to establish that the charitable group's auditors a aware of that inf¢xmation. Auditors The auditors. BistrKP FMIng LLP. have indtiled theirwillingness to ¢ontinue in office. Approve<l by onler of the menrs ofthe L)ard of Trustees signed on thr behaff by.. Mr hl M P Camo CBE Chairm Dale". 19-9-23 Page 24
CORNWALL AIR AM8ULAP4CE TRUST IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CORNWALL AIR APIBULANCE TRUST OPINION We have audited the financial statemerits of Comwall Air Ambulance Tnjsl {the'parenl charitable companYI and its subsidiaiies Ithe 'groupJ fcrf the yeaT ended 31 December 2022 vth¢ch comprise the Consolidated Statement of Financial Activities, Ihe ConsolK4aled Balance Sheet. Ihe Chaiity Bance Sheec the ConsolK1aled Statement of Cash Flows and the rdaled notes. induding a summary of signrf¢ant a¢¢ounting policies. The financiar reporting framework that has been applted in their preparation 15 applicable W and United Kingdom Accounting Standards. tnduding Finan¢o1 Reports"ng Standard 1172 'The Financbal Reporting Standard app.cable in the UK and Republi¢ of Ireland. (United Kingdom GeneraltyAccepted Accounting PtICe). In our opinim the fanCIsI stslernents". give a true and fair vW of the state of the Group's aThJ of the parent charitabb cM)parf$ affairs as at 31 December 2022 and of the Group's incoming resources and aFplicakn of resources. inelvding its income and expenditure for the year then ended: have been pioperty prepared In accordarKe wlh uned gdOM Generally Accepted Accounting Practice- and have been prepared in awdan¢e wth the requr¢m$nts of the Companies Act 21x16 arHI the Charits Act2011. BASIS FOR OPINION We ¢onducled our au(fil in aGcordance with International Standards on Auditing (UK) IISAS IUKI} and appficable w. Our responsibilitie5 under those standards are further described in the Auditors. responsibilitias for the audil ol Ihe finanaal statements section of our rert. We ar¢ indepèndent of the Group in aCr9rdan with the dhi¢31 requirements thal are relevant lo our audit of the financial statements in the United Kingdom. includiny the Financial Repon9 Counal's Ethic Standard. and have fu111ed our other ethi¢al responsibilities in accordance wth these requirements. We Wièvè that the audit e¥¥Jen¢e * have obtsj.ned iq $uifi¢bènt and appropriate to provhle a basis for our opink)n. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have conduded that the Trustees. L¢se of the goirvJ concem basis of a¢ntIng in the prepar3tKJn ofthe financial statements is appropriate. Based on thtr work ha¥$ performed. v have not tdentifRd any material uncertainlies relating lo events or conditions that. individually or couectwety. may cast signfficant doubl on the Group's or the parent charilable cornpanvs abilty to conlinLte as a goir4J corKem foi a peiK#l of al least ts¥elve months from wh8n the financial stslemenls are authorised for issue. Our responsibilities and the responsibthi*s of the Tru$tees with respgd lo wn9 ¢t)n¢em are de5uibed the relevant sections of this report. Page 25
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE PIEMBERS OF CORNWALL AIR ANBULANCE TRUST IcoMriNUED) OTHER INFOTIoN The other inf(¥rnakn coryrise5 the wrforThth"on in the Annu4 Rep)rt othèr than the financial statements and our Auditors. Report thern. The Trustee5 are responsible for the other information contained wrfhin the Annual Repthl. Our c4)inh)n on the financial StatentS does not cover the other infomafion and, except lo the èxtent othemse explicit stated in our rert. we do not eXpsS anyfomi of assurance concJ¢Jsion Ihereon. Our responsibility ts to th& other information and. in doing so. cOnser whether the other informalv)n i# materially in¢onstent With the financral statements or our kn(Mfedge ublained in the course Of the audit, 01 other4iSe appears to be materially misststed. If we ¥Jentfy such material in¢onsisten¢ies or apparent material misstslemen15. are required to determine whether this gives rise to a material misstatement in the finanaal statements themsefves. li. based on Ihe work we have perfom)ed. we cclude that there is a material misstatement of this other information. we are reqUId to rt that fact. We have nothing to report in this regarf. OPINION ON OTHER PAATfERS pRERIBED BY THE COMPANIES ACT 2006 In our cpinKJn. based on the work Und in the course ofthe aud. the information given in the Truslees, Re for the financial year for the financial statements are prepared is consistent with the financial statements. the Trustsès. Report has been prepared in accordance tprith 4)plublè le9 r4LrirtmÈnts. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light Of our krthed9e and understanding of the chaiitable company aThJ S environment obtained in Ihe course ofthè audit. havè identrfd miial misstaterrnts in the Trustees, ReL We have nothing to report in spect of the followry malters in rdation to whKh Companies Act 20(fi requires u$ ta report to you if. in our cyinion.. the parent charitable company has not W ¥dequ and suffi¢iertt counling records. or returns adequate for our audit have nol been recewed frorn branchès Il wsited by us.. r the parent charitable compwy faal 51alements ar• txrt in aweemert with th? ¥¢¢ountin9 record5 and retums.. or ¢ertain disdosLKes of TnJstees' remuneration specified by law are not made.. or we have not received all the informabon and e>planatws we require for our audit.. or the Trustees weTe Th)t entrfed to prepa the financral $talemenls in acalance wth the smal companies regime and take alvantage of the small compans' eXempths in preparing thè Trustees. Report and from the requirement to prepare a Strategic ReporL RESPONSIBILMES OF TRUSTEES As explained rnore fvly in the Trustees. ResPc$1bl1rtles Slalement, the Trustees (who are also Ihe dire¢lors of the charitable cornpany for the purposes of company knyl are reSPsib for the preparatgm of th& financial stalements and for being satisfied that they gNe a tw$ and fair vM¥, and for such internal control a5 the Trustees determine is nSSary lo enable the weparon of finan¢41 $t*ements that are free fr(¥n malerral mi5ststement. wheiher due to fraud or error. In preparing the financial stalements. th8 Trustees we responsiNe for assessing the Group's and the parent charitable compan15 ability lo continue as a going concem, disclosiro. as applicab, mattels related to going ncem and using the goiThJ concem basis of accounting unless the Trustees eithèr intend to liqu¢dat¥ th• Group or the parent chantable company or to cease operations. or have no re¥istK aliemative but to do so. P4e 26
CORNWALL AIR APIIBULANCE TRUST (A COMPANY LIMITED BY GUARANTEE INDEPENOENT AUDITORS. REPORT TO THE MEMBERS OF CORNWALL AIR APIIBULANCE TRUST (CONTINUED} AUDITORS. RESPONSIBIUTIES FOR THE AVOIT OF THE FINANCIAL STATEMENTS Our objedives arn to t)btain reason•ble a5surarKe abryrt whether the financial statements as a tknle are free from material misstslement. whether dJe to fraud or error. and to issue an Auditors, Report that includès our opinion. Reasonable assurarjce is a high level of assurance. but is not a guarantee thal an audit ¢onducted in accordance with ISAS IUKI wll ahvays detect a rnaterial misstaternenl when rt 51. Mis5tateThents ¢an arise Irom fraud or error and a con$hgered material if, indivJually or in the aggregate. they coukl reasonab be expected to inlluen¢e the economic derysions of users taken on the basis ofthese financkal slalernents. Irregularities, inekjding frnu¢J. are instsnces of nonthcompliancewlh laws and TegulatrDns. We desun procedu¥ in line wrth our responsibilitses, outtined above. to detscl material misstatements in iespecl of irregijlarifies. induding fraud. The èxtent to wlM¢h our predureS a ¢apable of dete¢b"ny wregulaiilies. Induth"n9 fraud is etailed bebw". We have consh1tl the r)ature of the indu4ry and sector, control enwfonmenl and bUnesS perft)m)ance.' We have consJered the results of our enquiries of management and the t Board theii own idenliffcalion and assessment of the risk of iffegularities." For any Matte entsfie<l we have obtained arld fewe¥1 the parent charit)le cornpanls documentstion oftheir poIleS and procedures LatIng to- Idènlityng. evaluating and complying with I$ and regulan$ ther they were re of ary inston¢es of non¢ompliance,' - Detectrng and re5pondin9 to the risk of fra1 and whether they ha¥e kn(p•AgJge of actual. suspected or alleged fraud,. and The internal Contro estlished to mibgate the risks of frwjd or non-compliance wlh kiws and regulations. We have considerèd thè matters discussed amoro the audrt engagemènt tewn. includin9 bntemal tax speualists regarding hcA¥ and where fraud mKJht occur in the financid Statnts and potential indiraiors of fraud. As a resuh of these w¢¢edures, we have considered the opwtunths #nd incentwes that may e$1 wthin the organisalion for fraud and klentir1 the highest area ol risk to be in rebtion lo income recognition, wlh particular risk in relation to yearond cut off. In common audits under ISAS (UK) we are also required to perform specific procedures to respond to the risk ol manageffnt overrtde. We also obtained an understanding of the legal and regufaw framewoths that the charitsb Group and Company operates in, foeusin9 on provisions Of those laws and regulations that had a dire¢t effed on the determination of rnaterial amounts and disdosures in the finan¢o1 stemenls. Thè key law5 and regulations we considefed in this conte*X induded the chanb.es SORP IFRS 1021- Attountin9 and Reporting by Charit5 and the Financial Rewting Stsndard appliGable in the UK and Wbfic of Ireland {FRS 1021. In addil¢on. we have Considered provbsions of other laws and regulalv)ns that do not have a direct effect on the financial statements but complian¢¢ wth which may be fundamental to the Charitable Group and Companls abilty to operale or lo avoid a material penaty. These include data prolectKin regulaiions. health and safety regulati&)s. aviation law. lottery regulations. fundraising knvs aThJ &npknn¢nt kgtslatw)n. As a result of perfotming Ihe above pKcedures, we have completeness and cut-off of revenue iecognition as a key audil matter related lo the wtenb.al risk ol fraud. OLrr prccedures to respond lo risks hlenffied included the folh)w¢ng.' Document9 and valNJating the control enifjTonment for incOw and debloTS and carryirvJ r#Jt walkthrough testing., Undertakiny 5ubstantwe spIethed tesn9 or prcof total cakulations on al material revenue stream5 tts ensure revenue has been recc¢Jnised appropriatdy and accurate, Considefing manual incomejoumals as part of our worfo on ftaud risks dOcUffnI£d ab,. Reviewing the financial statement disdosures and lesling to supporting documenlats"on-. Page 27
CORNWALL AIR ADrfBULANCE TRUST IA COMPANY LIMITED BY GUAR4NTEE> INDEPENDE AUDITORS. REPORT TO THE MEAIBERS OF CORNWALL AIR AMBULANCE TRUST ICONTINUEDI Enquiring of management ¢ort¢eming xtuaj and potential lthgalion daims,. Performing anatybGHI prxedures to Akntify w Unusu or unexpècted relationships that may indi¢ats risks of material misstatemenL Reading minutes of meetings of those charged with g0yemar., and In addressirKd the risk of fraud through rnanement overyide of controls. testing the ¥pproprialeness of journal entries and other adjvstmenls: a55essing lthether the judgements made in making accounting eslimales are indKatNe of • potential bkas and evaluatsn9 thè business ratk)nale of any Signifnt transadvjns that are unusual or OLtsKle the nomial c(yJrse of business. Wè also communi¢aW rélevant IS and re9ulation$ and potential fraud risks to all engagement learn members and remained alert to any indications of fraud (Y nor¢Mpliance wth laws and regulations throughout the audit. Our audit procedures weffj desgned to respor#l to risks of matertal misstaternent in the nancial statements, recognising that the risk of not detecting a material mi55tatement due to fiaud is hwJhef than the risk ol not detectin9 one resutting from an error, as fraud may invofve deliberatè concealmènt by. for example, forgery, misrepresentations Orthroh collusion. There are inherent limitations in the audit wo¢edures perfom)ed and the fvrther removed non<omplk?nce with laws and regulatp)ns is from the ents and trancti$ refierted in the finan¢i?I statèments. the less lthety we would beccffje awn ol it. A fvrther description of our responsknlleS for audit of the financial ststemènts is kted the Financial RePO"n9 Council's website at.. V.fre.0r .uklauditorsres This deseriptitsn foms part of our Audrtors. Report. USE OF OUR REPORT Thi5 Teptsrt is made to the charitable ccYrsJanVs members, as a body. in accordan wlh Chapter 3 of Part 16 of Ihè Companies Act 201A. and to the charitabte compan$ tnjslees. as a body. Part 4 of the Charities (Accounts •nd Reports) Regulath)ns 2008. Our audit work has been undertaken so that we mi9ht state to the charitable companys members those maiters we are reguld to state to them in an Auditors. Report and for no other purpose. fo thè fullest extent permitted by , we do not accept or assunk resns11Y to anyone other Ihan the charrtable tompany rts members. as a ty. fof our audit work. for this report. OT for the opinions wè have formed. Alison Olfver F A (Sènior Ststutory Audltof) for and on behallof Bishop Fleming LLP Chartered Accountant5 SlatutoryAuditors Chy Nyverow Newham Road Truro Comwall TR12DP Dale: 22 September 2023 Paje 28
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES VNCORPORA71NG INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2022 Unre$tri¢tsd fund$ 2022 Restri¢tsd funds 2022 Total fund$ 2022 funds 2021 Nole Income from: Dortalions and legacies Charitable actwthe5 Other trading actNib•$ InvestmertS 9.256.283 915.212 10,171N95 5.503,767 21.250 871,031 94,958 1285,574 163,1(hl 1.285.574 163.104 Total Income 10.704.961 915.212 11,620.173 6.491,0 Expenditure on: Raising fvnds chitae 8ctiwkn¢$ 1A73.6S8 5.194.473 1.473,658 5,311,900 1,197.755 4,244,741 117.427 Totsl expendituro 6.668.131 117A27 6.785,SS8 5,442.496 Net Income before net Ilossesvgains on Investments Unreali5ed net Ilossesygains c inveslments 4.036.830 797.785 4.834,615 1.048,510 1486.9141 1486.914) 319,742 Net movement in funds" 3.549.916 797,785 4.347.701 1.368,252 Reconclllation of funds: Total funds brought forward Net movement in fund$ 16,854.277 39.816 2.S12.609 79T,785 19,366,886 4.347.701 17,998.634 1,368.252 Total funds carried forward 20,404.193 3.310.394 23.714,587 19.366.886 Thè Consolthted Ststemenl of Fina[ Ath"vrtie5 inclLKles al gain5 aTrJ bsses reco3nised in the yw. The notes on pages 33 to 59 fomi part of these fmancial statements. Page 29
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:07085879 CONSOUOATED BALANCE SHEET AS AT 31 OECEMBER 2022 2022 2021 Fixed a55ets Tangible assets Investments 14 15 11.323.961 3.090,980 10.209,934 3,577,894 14h14.941 13.787.628 Current assets Stocks 17 18 14.133 811.478 9,873.SSO 23.381 395.444 6.449.941 Debtors Cash al bank and in haTr 10.699,161 6.868,786 Creditots.. amounts fairing due Mthin one year 19 11.399.515) 11,289.708 Net current assets 9299.646 5,579,058 Total net assets 23,714.S87 19,366,886 Char5ty funds Restricted funds.. Restricted fvnds Restricted fixed assets fun(Is 20 20 1.737 2.510,872 3.304,327 Total re4ricted fund5 Unrestrided lu1$ 20 20 3.310.394 20A04.193 2.512.609 16.854.277 Total funds 23.714.587 19.366,886 The Twstees 8ckno*Aedge their respOnbIlitieS for ¢orytying Mth the requirements of the Aci with respect to accounting re¢ords and Pparatson of finarncial stalemenls. Thè finanaal statements were approved and 8ulh¢yised for issue by the Trustees a1 $Bned on their behaw ty. Mr Pll Aq P Carne CBE Chaimw r N LÈntÈm Tiustee Date.. notes on s33 59 art of these financial statements. Paae 30
CORNWALL AIR AMBULANCE TRUST (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:07085879 CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 OECEMBER 2022 2022 2021 Note Fixed assets Tangible assets Investments 14 15 11.323.962 3.090.980 10.209,934 3.577,895 14.414,942 13.787,829 Current assets Sto¢ks Dgblors Cash al bank and in hand 17 18 14.133 847.967 9.819.592 23.381 427.891 6,409.527 10.681.692 6.860.799 Creditors: amounts falling due wilhin ce year 19 (1,382.0471 {1.281.7421 Net current assets 9.299,645 5.579.057 Total net assets 23.714.587 19,366,886 Charlty funds Restricted funds UnreslrKt¢d"funds 20 3.310.394 20.404.193 2,512,609 16.854,27T 20 Total funds 23.714.587 19.366,886 The Charws net move1r1 in lunds for the yearwas £4.347.701 (2021 - £1.368.2521. The Trusteès acknowledge thw"r rsp(bilItieS for Compln9 vrith the requirements of the Act wilh respect to aOnting recor(Is and preparation of financial statements. Th& finants stements were rywoved and a Jri5ed for i55ue by the Tnlee5 and signed on their behalf by.. Mr•A M P Came CBE Chaiman Dale.. IAr N Lentern Trustee The notss on pages 3310 of these ffinan¢ial statements. PwJe 31
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE Y&4R ENDED 31 DECEMBER 2022 2022 2021 Not• Cash flows from op•rating ¥tivitie5 Nèt eash from operating actIveS 26 4.958,320 4,123.473 Cash flows trom Inv¢stiny a¢livitie$ Diwdends, interests and rents from investments Proceeds from the Sa tsl tangible fixed assets Purchase of lar¥Jible [ed assets Proceeds from sale of investrnents Purchase of investments 98,617 {10,681) 11.622,6471 94.958 1339,130} 16} Mèt cash used In investing aclivities (1.534.711) 1244,1721 Change In cash and ta5h equivalents in the year Cash and cash equivaknls at the beginning oflhe yEar 3.423,609 3.879,301 6.449.941 2.570.640 Cash aJ)d cash equivalents at the end of the year 27 9.873,550 6.449.941 The notes on pages 33 10 59 fM part olthese finanual Stalen¢$ Page 32
CORNWALL AIR AMBULANCE TRiIST {A COMPANY LIMITED BY GUARANTEE) NOTES TO ThE FINAlAL STATEPIIENTS FOR THE YEAR ENDED 31 DECEMBER 2022 GENERAL INFORMATION The Charity is incorporated as a Company kniited by guarantee and does not have Share capital. In the event of the Company 9 wound up each mèmber is liable to ¢ontribLrte a sum not exceeding £10 towards dèbts and liabilrtie5 of the ccffnpany and the costs. charges and expenses ol wnding up. The ¢ompany is inwpored in ErrfJland arHI Wales. The wstered number 8nd office is as slated on page 1. ACCOUNTING POUCIES 11 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The fjnancial slalements have been prepared in accordance with the Charities SORP {FRS 102} - Accounting and Rewting by Charities.. Statement of Recommended Practice applicable lo chaT(ties preparing their accounts in accordance with thè Financial Reporting Standard appluble in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. the Finan¢ial Repting Standard aPIcable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Comwall Air AmbuFance TNSI meets the definIn of a pubk tenefft enbty under FRS 102. Assets and liabilities are initialty recognised at histOTuI cost or transaction value unth otheiSe stated in the relevant accounting policy. The Consdidated Statement of Finanual AetMth•s (SOFA) and Consolidated Balance Sheet consolidate the financial statèments of the Charty and its subsidiary undertaking. The results of the SLd)sidiary are c(sld?ed on a line by lirE b05t5. The Chafty has taken advantsge of the exempbon all(W under sedion 408 of the Cryryjanies Act 20C6 and has not presented its own Statement of Financial ActNities in these financial stalemenls. 2.2 GOING CONCERN The Trustees have assessed the charities fmanuaf posilKJn and ils ability to operate as a going concefn for the foreseeable futu. They have reviewed the Wnt financ¢al position alongside the bud9sL 0$ well as the rash Po51tjn. reseNe5 and investrnents. Trustees havè also considered the financial proJ"ècbon$ until December 2026 ¥nd are satisfied that Ihe charity has $uffi¢ieftt resour¢ès to continue its aclivitses for al least 12 months from Ihe date of approval and signing ol these financial stalemenls. Based on this assessment. the Trustees conssder it lo be appropriale lo prepare these nan¢iaJ statements under the g)ing concem basi8. Pe 33
CORNWALL AIR AMBULANCE TRUST (A COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POUCIES (¢ontinuedl 2.3 INCOME l incorre is Tecognised once the Charity has entitlement to the irthme. * is prcijable that the incorne will be received and the amount of income receivable can be measured reliably. The recognitKJn of income from 189au¢s is dapendertt tsn tstabh"shing tntrtiement. the probability of re¢eipt atyj the abilty to estimate wilh $uffi¢ient arxura¢y the amourbt receivable. Eviden¢e of enlitlement to a gaCY e$t5 when the Charity has suffiuetrt wdence that a gift has been left to Ihern (through kn¢wAedge of the exislerrE of a valid wll and the death of the benefadorl and the executor is 5?tisfEd that the propety in question not be required to satisfy claim5 in the eslate. Receipt of a legacy musl be recognised when il is probable that il will be received and the fair value of the amount reNable. which tM15 general be expect&J cash amount to be distributed lo the Charty. can be reliabty rneasu. Grants are induded in the Consdidated Statement of F)ancial A¢tivits on an entitlèment basis. The balance of income feceNed for specific pufjjoses but fiot expertded during Ihe period is shown in the rdévarnt funds on the Ban¢e Sheét. Where income 15 recewed in advance of enlitlemenl of reeèipt, its recognition 15 deferred and included in credrtors as defeed income. Where enb"tlewnent 0¢¢ur$ before inwrre is reGeNed. Ihe 15 xcfLbed. Inc¢Jme lax recoverable n retI)n to investment incorne is recognised al the l*me the veStMent inctyne 15 rKeivabJe. P4e 34
CORNWALL AIR AMBUL4NCE TRUST (A COMPANY UMITED BY GUAFiANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POUCIES leontinued) 14 EXPENOITURE ExpenditLKe is recognised On there is a kgal or construcli¥E obltgation to transler economic benefit lo a Ihird party. il is probable that a transfer of economic benefits wll be required in settlement and the amount of the rtj1i9atn can be measured relrabty. Expenditufe 1$ ¢la$sified by xlNty. The costs of each aCtIty are made up of the total of ¢Jire¢t costs and $hared Costs, ineludin9 $UPPOrt ¢osts invofved in undertthing eath actithty. Dire¢t ¢osts attn"bLrtabie to a single activity are allocated dire¢tly lo thal aclivity. Shared cos15 which wnlitjule to rn0 than one actmty and support Costs whih are not attributable to a single adiwty are apportKJned beknn those activities on a basis Conststenl the use of rÈ50urces. Central staff costs a altocaied on the bas¢s of lime spent, and depreciation charges all¢xated on the portion of thè asseys use. Expendrture on raising funds includes al èxpertdrtu incurred by tho Group lo raise funds for ils charitable purposes IludeS costs of an ftxKlraising acIM"tw events and nOnarabl• trading. Expendi¢ure on ¢harite adMW r5 incurred on diredty undertaking the actmties vthth further the Group's objectives. as wdl as any assooated support costs. 2.5 GOVERNMENT GRAKts Governmenl grants fejaling lo tangti Ile fixed assets are Iwled as deferred inojme and released to Ihe Consolidated Statement of Fanal Acl1vitS over the expected useful lives of the assets conGemed. Other grants a credited to the Consolidated statnt of Financial Activilies as the related expenditure is inujrred. 2.6 INTEREST RECEIVABLE Interest on funds held deposft is incjuded 4then receivable arvj the amount can be measured liably by the Gro¢Jp', this is nom)ally upon notffilitin of the terest paid or payable by the insb'lution with whorn the funds are de)ted. 2.7 TANGIBLE FIXEO ASSETS AND DEPRECIAnON Tangible fixed assets costing £SOO or more are ¢apitalised and recognised when future economi¢ benefits are prob¥ble and the cost ty value oftt asset can be measured reliabty. Tangible frxed assets are initolty recognised at cosl. After reGcsnItn, under the cost model. tangible fixed a5sels are measured al cost less accumuLgtecl depreciation and any accumulated impaimienl losses. Al costs incurred to bring a tangible fix asset into its inleTrJed working conditKJn Shou be included in the measuremerjt of cost Page 35
CORNWALL AIR AMBULAMCE TRUST IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POUCIES Icontinuedl 2.7 TANGIBLE FIXED AssEfs AND DEPRECIATION ICOMTINUED) Depre¢i?th?n Is tharyed so as to alhxate the cost of tangbi te frxed assets less I1r redual value over their estimated u5efvl lives. Depreciati is Prowded on the foltowing bases". Freehokl land - no depreuatffi is charged Operations faulty - over SO years Short leasehold Mnprovements - over 10 years P4qotorvehhs - 25% pw annum on the reduutvJ balance method Shop rt(ture5 and fittings - ovèr 3 yèars Equipment {including Mrcraft - ovw 3 or 5 J8rs as aF4xoprts speckelisl equipment) Helw)ter Assets underconstruth'on - over 20 years to 30% of residual value - not depreciated until asset B in use 2.8 INVESTMENTS Fixed 8s5el investrnents are a form of financial instrument and are inbti.ally c0)niSed al their tran5actit)n co$1 and subsequentty rrEasured at fair value at the Balan SIet date. unless the value cannot be measured relBbty in which case li rnèa5ured at cost less impairEnL Investment gains and losses, whether realised or unrealised, are wnbined and presented a5 'Gain51{Lossesl on investrnenls. in the Consolidated Statefflenl of FIrnra1 Activ"rties. Investments in subsidiaries are vabjed al cost l&ss provision for Nnpairrwil. 2.9 STOCKS Slc<ks are valued al the lrywer of cost and nel wli%able value after mthing dL allowance for obsolete and SI0¥1ng stocks. Cost indlth 1 direct costs and an opproprote proportion of Ted and variable overheads. 2.10 DEBTORS Trade and other debtots are rÈcc3nisÈd at the setttemenl amounl after any trade diseount tsffÈred. Prepayments are valued at the amunt prepaid net of any trade discounts due. 2.11 CASH AT BANK AND IN HAND Cash al bank and in hand includes cash and short4eThn highty liquid investments wth a short maturity of three months o( less from the date ol acquisibon or opening of Ihe deposit or simiLar account. Page 36
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEE) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POUCIES (conlinuedl 112 UABIUTIES AND PROVISIONS Liabilf(ie5 are recognised when there ts an ObratiOn at the Balance Sheet dalè a$ a fesull of a past event. it is probable thal a Iransfer of ewnDmic benefft wll be required in s&ttlemenl. and the amount the settment Can be estimated reltabty. LiabilitEs are rewgni5ed at the amount that the Chanty anb"cipales it pay lo setue the debt or the amount rf has recewed as advanced payThents for th& gcods or semces it must provide. Provision5 are measured at the besl estimate of the amounts required to settle the thligation. Where the effecl ol the time value of money is material. Ihe PrO¥iS is based on the present value of those amounts, discounted * the pre-tax disGoLtnt tste th¥t.rellects the risks Specif to the liabi15ty. Th unwnding of the dis¢ount ts reco9ni$ed in the Con$olKJated Staternenl of Finan¢k?l Acb"vrties as a financé cost. 2.13 FINANCIAL INSTRUMENTS Thè Group s)nty has finartial assets and fina1?1 fiablitS of a kind that qualify as bas financ instruments. Basic financial instrumenls are initialty recogni%ed at transact[ value and subsèquent measured at their settlement value vith the exception of bank loans whKh are Slbsequent measured * 8rnorti cost using the effective interest meth(xl. 2.14 PENSIONS The Group operate5 a defined Contributp pension scheme and the pension charge represents the amounts payable by the Grow to the fvnd in res of the year. 2.15 FUND ACCOUNTING General funds are unrestricted fvnds whKh are availabfe for use at the discrets.on of the Trustees in fvrtheran¢e of the general obj'ectives of the Group aThJ which have not been designated for other puwes. De5tgnated fur$ comprise unrestricled funds that have been set aside by the Trustees kn particular puiposes. The aim and use of exh designaled fund is set in the notes to the fmanrAal stslements. Restricted funds are funds whth arè to be used in acccrfdarÈce spe¢ffi restri¢ticffs¥ imposed by donors or which havè been raised by the Group for wticulaf purp05e5. The costs of raising and administering such funds arè charged against Ihe speciftc fund. The aim and use of each rèstricted lund is set tyjt n the notes to the fiCl stements. Investment Irne. gains and bsses we alrxated to the appropriate fid. Pa9e 37
CORNWALL AIR AM8ULANCE TRUST IA COMPANY LIMtTED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimate5 and judgements we C£tinUallY eVUated and are based on historical experience ar)d olh•r factors. rn¢luthng expe¢talions of future events IIBt are lo be reasonable under the ¢ircumslances. Crit1 accounb.ng estimates and a55umptions". The Charity makes estimates and asSUrrfttkS conceming the future. The re5ulling xcounling estimates and assumptK)ns w¢ll. by defInOn. seklom equal thè lated actual results. The estimates and assumptions that havé a significant risk of sing a material adjustment to the carrying amounts of assets and liabilities thin the nexi financial year are discussed belcw. L¢gacy inccffne may requre management NKlgement in resFd of •s50Ciated kn"mirtg of revenue re¢ognttion and estimon ofthe irwnE. Legacy income 15 considèr ¢)n o case by casè basis. Page 38
CORNWALL AIR AMBULANCE TRUST (A COMPANY LIMITED BY GUARAKfEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2022 INCOME FROM DONATIONS AND LEGACIES Restrlcted unfeStrkt Restricted Fixed Asset funds funds funds 2022 2022 2022 Tot41 funds 2022 Total fijnds 2021 Donations Legacies Grants Cov119 Grant Lott 4.074.031 3,562,595 108,779 4074,031 3.S62,S95 1.023,991 1.299.037 2.387.376 198.363 25,215 1.S93.756 17.512 897.700 1.510.878 1,S10,878 9.2%.263 17,512 897.700 10.171.495 5,503,767 TOTAL 2021 5.404,941 30,862 67, 5.503,767 INCOME FROM CHARrrABLE ACTtvmES Total funds 2022 Totsl lunds 2021 funds 2022 rAmbulanGe serM¢e 21.250 TOTAL 2021 21.250 21.250 Page 39
CORNWALL AIR AMBULANCE TRUST {A COMPANY LIMiTED BY GUAK4NTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 INCOME FROM OTHER TRAOING ACTIEs In¢ome from fundraising events Vnre5trf¢ted funds 2022 Total funds 2022 Toial fvnds 2021 harity shop sales & othw income Income generatsd by subsidi 1.273,784 11,"790 1.273,784 11.790 843,239 27,792 TOTAL 2022 1.285,574 1.285,574 871,031 TOTAL 2021 871,031 871,031 INVESTME INCO Unrestricted funds 2022 Total funds 2022 Total fund5 2021 Investment income Investment income- bank terest 98.617 64.487 98.617 64.487 94,958 163.104 163,104 94,958 TOTAL 2021 94.958 94.958 Page 40
CORNWALL AIR AMBULANCE TRUST IA COMPA LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 DECEMBER 2022 EXPENDITURE ON RAJSING FUNDS COSTS OF RAISING VOLUNTARY INCOME UnrtStri¢ted funds 2022 Total fund5 2022 Tot funds 2021 Oonali)ns. fundraising & e¥ents Legacies Lottery management & development CJ)Sts Retail eypenses & purchases for rès* Inve5trnent management costs Expenditure incurred by subsidiary 412.686 49.603 280,649 726.004 412,686 49,603 280,649 726,004 388,348 47,034 231,267 538.266 18.9751 1.815 4.716 4716 1.473.6S8 1.473.658 1.197.7SS TOTAL 2021 1.197,755 1.197.75S ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES SUmnry by fund typ• Unrestricted Restricted funds funds 2022 2022 Totsi 2022 Total 2021 Provisn of •r amb4tlance servr 5.194,473 117.427 5.311.900 4.244,741 TOTAL 2021 4.101.334 143.407 4.244.741 P4e41
CORNWALL AIR AMBULANCE TRUST (A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEmE1s FOR THE YEAR ENDED 31 OECEMBER 2022 10. AALySIs OF EXPENDITURE 8Y ACTMTIES Actlvftles undertaken dlrectly 2022 Support costs 2022 Tètal funds 2022 Total nds 2021 Provision of air ambulance serv 3.731.404 1.580.496 5.311.900 4,244.741 TOTAL 2021 3,148.396 1.096.34S 4.244.741 ANALYSIS OF SUPPORT COSTS Provlslon of alr ambulance 2022 Total lunds 2022 Total funds 2021 Staff costs Marketing Insurance prope 515 Repairs. & maintsnance Staff expenses Office èxpenses Bank fees Le9al & prd¢s5ion Loss on dtsposal of ass•ts G¢)vemance costs 453.322 201,769 134,099 104.213 59,298 363,711 52,643 74.841 101.716 12.074 22.810 453.322 201.769 134.099 104,213 59.298 363.711 52.643 74,841 101.716 11074 21810 415,344 172,758 125.814 61,380 54.583 69.035 46,187 50,976 81,903 {135) 18.500 TOTAL 2022 1.580,496 1.580N96 1.096,345 TOTAL 2021 1.096,345 1,0.345 Page 42
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. AUDITORS. REMUNERATION 2022 2021 Fees payable to the Ch*rtrfs aJdit¢r for the audit of the CIBriVs annu81 accounts 22.$60 17.750 Fees payable to the Charws auditor in respect ofr. All taxat thsory senrices not IlKI ai AN non4udit ser¥ices not included ¥bove 850 750 2SO 12. STAFF COSTS Group 2022 Group 2021 Charlty 2022 Chwity 2021 Wages and salaries Social security ¢o5ts Other pensK)n cos1$ 1.469.246 147.410 80.65S 943.229 1069.246 82.297 147.410 56,39) 80,6S5 943,229 82.297 58,39) 1.697.311 1.083.916 1.697.311 1.083,916 The avwage number of persons employed by the cha.rity during the yearvms a5 folknvs.. Group 2022 Group 2021 Charity 2022 No. Charity 2021 Average headcount nwnber of staff emplo 46 The average headcounl eypre55ed a5 fuu twne equ1 was.. Group 2022 Charlty 2022 Charity 2021 21r21 AdministralKJn Charity shops Fundraiw Marketing Senior leadership team Volunlew department Operatmjns (Pilots and Patient Liason) 19 14 19 14 Page43
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. STAFF COSTS ICONTINUEDI The nwnbÈr of emplo whose employee benefits (Èxdudirt9 èmployer penon costs) eXed £60.000 was.. Group 2022 Group 2021 In the band £70,001- £80,000 In tt)e band £80,001- £90,000 Thè increase in htsjher paid staff is due to the charrfje in staffing arrangements in the yearbwth the Trusfs pilots being dire¢lty employed. The Charity considered key management personnd bn the year to corrwse the Trustees a)d the senior leadership team as th"s¢h)sed on page 1. The lotsl empwnent beneffts induding èmpbyèr pension contributions of tha koy management personnel were £199,495 {2021." £157.577). Pa to 3 empoyees {2021.' 2). 13. TRUSTEES. REMUMERATION AND EXPENSES Durin9 the year, no Trustees receiv•d any remuneratiM or other berth12021 - ENIL). Dvring the year ended 31 December 2022. eynses of £76 reTrJ)ursed or paNJ directy to 1 Trustees12021 - no expenses). P&3e 44
CORNWALLAJRNJIBULANCE TRUST IACOIIPAtr4YUMITEO BYGUAR4JITEÉI NOTES TO THE FINANCIALSTATEMEKrs FOR THE YEAR ENDED31 OECEIIBER 2022 I& TANGIBLE NxeDASSETS FtXMrn5 under Total COSTORVALUAMON AI 1 JAnvy2022 3J7W6 $1,365 315.32S 103N29 1.141.530 12,671,G72 331.738 1.1>1,1dl f,622,M7 1,6131 171,It61 1716,217) 1878.$f61 OiSFwL At $1 Oeeethr2022 3&tr)1 760,051 1,1M,146 13,317.fj03 DEPRECIAllON At 1 Jay2z Chatge lor15 .022 46JJ24 156335 16285 97Q. 11.474 91825 rie.057) 171.8JO1 171&3451 I361.8 1869,2401 7aiu8 43J17 127,824 2W1 314449 1.9912 IMBOOKVALUE 16S4.548 1<617 6M45244 1x724 9.O•D 414602 ,191,116 IIA24*61 At31 Dwthr20Z1 2.725.634 24.162 7.110J43 1S9.0 17.14 1n.5S1 10209.934
CORNwALLRAl8vLwKETRI1sT IACO¥PANY UPEDSyGURAPff£El NgTES TOTHE FINANcLSTATEMENTs FOR THÉYEAR ENDEO 31 DECEMBER2022 14 TAt4GIBLE FIXEOASSETS ICOPrnNUEDI GRQUPANP C114pJrYic¢)NllNUÈD}
CORNWALL AIR AMBULANCE TRUST (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEM8ER 2022 15. FIXED ASSET INVESTMENTS Llsted In¥tments GROUP AND CHARITY COST OR VALUATION At 1 January 2022 Revaluation$ 3.S77,894 {486.9141 AT 31 DECEMBER 2022 3.090.980 NET BOOKVALUE AT 31 DECEMBER 2022 3.090.980 AT 31 DECEMBER 2LY21 3.577.894 P•Je 47
¢QRPMALLNJRMAI8ULANCE TAVST NOTES TO THE FINANCWSTAIEklENrs FOR THE YEAR ENDED 31 DECÉMEER 1022 16. PRINCIPALSuORy ¢mTTM9 Lvrd 1W%Y CtyTral TR84tiY .%Y Thy Profitfar yèar rÈ glft cATTj1Trg LKrd F4rnIrAmbU&rrfeSeve5T fl.79) 30 4716 7.074 2l791 Py4
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARAp¥fEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 17. STOCKS Group 2022 Gft)up 2021 Charity 2022 Charty 2021 Finished grAds and goods for r8s* 14.133 23.381 14.133 23.381 18. OEBTORS Group 2022 Gro 2021 Charsty 2022 Charity 2021 DUE WITHIN ONE YEAR Trade debtors 31.024 62.193 31.024 53.489 165.186 598.268 62.193 34,977 89,287 241,434 Amounts cv4ed by group undertaknngs (Xhèr d¥btor¥ PrepayThènts and accrued inccrfne 182.186 598.268 91,817 241,434 811A78 395.444 847,967 427,891 19. CREDITORS: APAoufr¥fs FALUNG DUE WITHIN ONE YEAR Group 2022 Group 2021 Charity 2022 Charity 2021 Payments receNed on account Trad¢ rAeditors Other taxation and $o¢i•l security other credilors AccTvas and deferred incot 146.826 569.405 49,237 12,141 621,906 149.392 869.854 45.241 8.931 216,29J 146,826 S68.307 49,237 12.141 605.536 149.392 869.639 45,241 8.931 208,339 1.399,51S 1.289,708 1.382.047 1.281.742 Page 49
CORNWALL AIR AMBULANCE TRUST {A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECE141BER 2022 20. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR 8alanc• at 31 Galnsl De¢•mber ILossesl 2022 Balance al 1 January 2022 Transfers inlout Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNDS Helicopter replacement Helicopier purchase retention NBV of unrestricted funded assets NBV ol Air Arnbular lunrestrrted èlemenll Futu Development & Inve5tmènt$ 463.924 264100 729,024 340.280 (340.2801 1.725,607 (183,4011 987.810 2.S30.016 5.702.218 1212.6001 5,489.618 1700,000 1700.000 10.932.029 1736.2811 1.252.910 11N48.658 GENERAL FUNDS General funds 5,922.248 10.704.961 15.931.850) (1252.9101 1486.9141 8.955.535 TOTAL UNRESTRICTE D FUNDS 16.854.2TI 10.704.961 {6.668.131} {486,9141 20.404.193 Page 50
CORPIWALL AIR AMBULANCE TRUST {A COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 20. STATEMENT OF FUNDS ICONnNUEDI Balance at 31 Garn51 Decèmbor (L055es) 2022 Balan¢¢ at 1 January 2022 Transfe inloyt Incomè Expenditure RESTRICTED FUNDS Other restriGted funds CJRS grants 1.737 17.512 113.1821 6.067 1.737 17.512 {13.1821 6.067 CAPITAL RESTRICTED FUNDS HelicopterAW169 - DCMS ILIBOR) HelicopterAW169 - IDHSCI 9S6.250 {17,Sl)01 938,750 451.875 (35.0001 416.875 Airbase construct*)n ISWRDAI Annex ILIBOR) Welfare & Pastoral Facilities- {DCMSI Other restricted funds 801.441 210.132 (18.9631 15.406) 782.478 204,726 32.1)40 {3.968} 28.072 15.505 {9,0111 Rapid Reponse 43.629 (14397) 29.232 Operations Extension- IDCMSI 897.71x1 897,71)0 2.510.872 897.700 1104.245) 3.304,327 TOTAL RESTRICTED FUNDS 2.S12.609 91S.212 1117.427) 3.310.394 TOTAL OF FUNOS 19.366.886 11.620.173 (6.78S,5581 {486.9141 23.714.587 Paje 51
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 20. STATEMENT OF FUNDS ICONnNUED) STATEMEKf OF FUNDS- PRIOR YEAR Babnce at 31 Decemtyer 2021 Balance al 1 January 2021 Transfers inlout Gainsl {Lossesl In¢LMMe Expenditu UNRESTRICTEO FUNOS DESIGNATED FUNDS Helicopter replacement Helicopter purchase retention NBVof nstriCted funded assets 198,824 265.11KI 463,924 340.280 340,280 1.846,868 (121.2611 1.725,607 NBV ofAir Ambulance lunrestrKted efement) Future Development & Investments 5.914.818 (212.6(Y)) S.702,218 2.700.OIX) 2.700,000 11.C,790 (333,8811 265,1CKJ 10,932,029 GENERAL FUNDS General lunds 4.440.654 6.392.180 14,*5.2281 1285,1CxJ) 319.742 5.922.248 TOTAL UNRESTRICTE D FUNDS 15.441.444 6.392.180 (5.299.089) 319.742 16,854.277 Page 52
CORNWALL ATR AMBULANCE TRUST (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2022 20. STATEMENT OF FUNDS (CONTINUED) BakrKe at 31 Gains1 Decernber {L05ses) 2021 1 January 2021 Transfers inloul Ir]come Eypenditure RESTRICTED FUNDS other r8slrict8d funds CJRS grants 3.850 5,647 25.215 (7.7601 (25,215) 1.737 3.850 30.862 (32.9751 1.737 CAPITAL RESTRICTED FUNDS HelicoplerAW169 - DCMS ILIBORI He1Cle¥ AW169 - IDHSCI 973.750 {17.5LK)I 956.250 486.875 (35.0) 4S1.875 Airbasè constnjct ISWRDAI Annex ILIBOR) Welfare & Pastoral Facilities- IDCMSI Other restricted funds Rapid R8ponse Cafs Operatrtsns Extension- 820.404 215.538 (18,963) 1S.4f61 801,441 210.132 36.008 {3.) 32,040 20.765 (13.2241 15.SDS (16,3711 43.629 (DCMS) 2.553.340 67.984 (110,432} 2.510,872 TOTAL RESTRICTED FUNDS 2.557.190 98.826 1143,4071 2.512,609 TOTAL OF FUNDS 17.998,634 6,491.(K (5,442.4*1 319,742 19.366,8e6 Page 53
CORNWALL ATR AMBULANCE TRUST (A COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 21. TRANSFER BETWEEN FUNDS The transfers btheen fvnds during the year relate lo thè dèsi9nation of funds in accordance with the Heli¢opter Relacemenl Fund r8ferenced in note 22. A transfer has also be mat from general funds lo designated fixed assets to recognise athjitics made in ar and hist7¢31 funded throu9h general fvnds. 22. DESIGNATED FUNDS Hèlicopter Replacement Fund This fund was eslablished lo hokl ftjnds for the plaCent of ihe aw ambulance helicopter. The Trustees aged lo Iransfer the depreciation of the helthpter into this fund annualty. NoiiThJ that the new helicopter is expected lo be in operahon for Ihe next 19 years. Helicopter Pur¢hase R¢tention This fund the Temainin9 balan¢s of the Hefwter Purchase. £340,280 IE400.000 at an exchange rate of 0.850n. The slump p•J5 weTr conpleted in year and the fund has been cleared down up payment ofthe invoice. N•t Book Value of Air Ambulance (Unrestricted Element This fund vras established to recognise the book value of the unrestrided elemenl of the ne AW169 helicoptér as a fixed asset held by the charity fvnded by unrestricted funds fiom lund whose restriction ended upon the aCquiSOn of the asset. Net Book Value of Unrestrictsd Fundèd Assets This fund recognises th¥ nel boc4¢ value of fixed assets he]d by the charity {e¥durfiny the AW169 helicopterl funded by unre5tri¢ted funds or from funds restrith'on end upon the acquisition of thè ass•t, and that cor6gauentty ¢ann0t be easity cth)verted into cash. 23. RESTRICTED FUNDS Helicopter AW169- DCPAS ILIBORI This Helicopterlund of £1 M madè up of £1K2.500 of lunding received during 2018 and a fvrther£837.$00 received in 2019 from the Department for Cdtufe. Media & Spor( trNards the cost of the new helicopter purchase. Helicoptèr AW169- DHSC This fund reftects the £S00.DDO receivgj in 2019 from the Department of Hearth and Car¢ towards the new heli¢optef purchase. Airbase Contra¢tion {SVIRDAI This fund repre5ent5 granl awafded 9i¥en by South West Regional tkvek)pmenl Agency towards the st of ConStrtI)n ofthe air ambulan¢e LN)watK)ns faolty and head office. Ann&x• ILIBORI The annexe fvnd reprnsents monies receNed from HM Treasury from LIBOR bank fines. The money was gThien lo build an annexe to dovebp the aithse facilities. Wellaro & Pastoral Facllities {DCMSI The lund represents the grant fvnding usry to develop k> sUPPQrt the wolfare of the air ambulance crews. Rapid Response Cars The fund repfesenls the proportTr of reslriGted grant fvndwlg lawards the pur¢ha$e of tsyo r4>id reponse cars for Ihe Twsf$ u$è. The Trust purchased Volvo VS¥J cars in 2021. P&Je 54
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUAIIAMTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Operations Extens5on (DCMS) The fund reflecis the proportion of restric grant furk4ing tNards the contnKlion of the operational extensk)n on site. This asset ts induded li the o$sets under ¢))nstru¢tion atthe year end cf2022. Oth•r rèstrictèd funds Other rèstricted funds represent grants restricted donations predcfflinantty for the purchase of medical and cperational equipment. SUMMARYOF FUNDS SUMMARY OF FuNDs-CURREyEAR Balanc• at 31 Galnsl DÈc•mbèr (Lossèsl 2022 Balance at 1 January 2022 Transfers Inlotst Income Expendlturn Designai funds General ftjnds Resificted funds Capital restricted funds 10,931029 5.921248 10.704.961 1.737 17.512 r136281) 1252.910 15.931,BS0) {1.251910 (13,182) 11.448,658 {486,9141 8.9SS.635 6.087 2.510.872 897.700 (104245 3.304,327 19,'366.886 11.62Q,173 16.785.558} (486.914) 23,714,587 Su1mARy OF FUNDS- PRIOR YEAR Balance at 31 Gainsl December (Losses) 2021 Balae at 1 January 2021 Transfers iOut Income Expenditure Designaled funds General funds Reslricled funds Capital restricted funds 11,CX)0.7 4.440.654 3.850 (333.861) 265.100 6.392.180 (4.965,228) (265.100) 30.862 (32.975) 10.932,029 S,922.248 1.737 319.742 2.553.a40 67.964 (110,432) 2,510.872 17.998.634 6.491.{ 15.442.496) 319.742 19.366,886 Page 55
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GUARANTEE) NOTES TO TrIE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2022 25. ANALYSIS OF NET ASSETS BEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FiINDS - CURRENT YEAR Capital restricted funds 2022 Unrpstricted Restri¢ted furtds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset invèstments 8.019.634 3.090,980 10.693.094 (1.399.515) 3,304,327 11,323.961 3,090.980 10.699.161 11.399.515) Cwrenl assets Creditors due V&athin one yw . 6.067 TOTAL 20.404,193 6.067 3,304,327 23,714,587 ANALYSIS OF NET ASSETS BETWEEN FUMDS- PRJOR YEAR Restricted untsICted Reslricted Fixed Asset fund$ fund$ funds 2021 2021 2021 Total funds 2021 Tangible fixed assets Fixed asset investsn¢nts 7.699.C62 3.577,894 6.867.029 (1.289,7081 2.510,872 10,209.934 3,577.894 6,868,766 11.289.708) Current assets Credrtors due within one year 1.737 TOTAL 16.854,277 1,737 2.510.872 19.366.886 P•3¢ 56
CORNWALL AIR AMBULANCE TRUST (A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING AcnviTIES Group 2022 Group 2021 Net income for the ¥r las per Stalemenl of Firwickal Actes) 4.347.701 1.368.252 ADJLISTMENTS FOR: Depreciatien tharges Gainsl{lossesl on investments L055 on the sale offixed assets Deciea5ellincteasel in stocks DoGrea$ellincre#se) in debtors Increase irt ¢redilors Interest from VeStmentS 500.244 491.401 11.623 9.248 115.799) 1416.0341 2.373,290 111754 371.875 (98,6171 {94.9561 444.295 1323,4821 NET CASH PROVIDED BY OPERATING ACTMTIES 4,958.320 4,123.473 27. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2022 Gioup 2021 Cash in 7nd 9,873,550 6.449,941 28. ANALYSIS OF CHANGES IN NET DEBT Atl January 2022 Cash flow At31 Dècèmb¢r 2022 Cash al bank and in hand 6.449.941 3.423.609 9,873,550 6.449.941 3.423.609 9.873.SSO Pagè 57
CORNWALL AIR AMBULANCE TRUST IA COMPANY LIMITED BY GVARANTEEI NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2022 29. CONllNGENT UABIUTIES During the 2020 fmantial ytsr. a daim was raised ast the Charity. At the date of this report. the likely outcome nor financial wnpad on the Chanty carnot be retrabty eStinled. As such. no provisM)n has been made in the financial statements. 30. CAPITAL COMMITMENTS Group 2022 Group 2021 Charity 2022 ChariLy 2021 CONTRACTED FOR BUT NOT PROVIDED IN THESE FINANCIAL STATEMENTS Acquisition oftangtjle fixed assets 713.333 892.131 713,333 692,131 31. PENSION COMMITMEs The Charity operates a defined contn"bulion penoft scheme. The assets of the Scheme are held Separately from those ol the group in an independentty administered fund. The penSD c051 charge repr8sents contributions payable by the grotsp to the fund and amounted to £80,655 12021: £58,390}. £12,01912021'. £8,) vrds payable to the fund at the balanc& sheel dale. 32. OPERATING LEASE COMMITMENTS At 31 December 2022 the Group ond the Charity ha<1 comnyknws to make futurè minxnum 18ase payments urKler rnCelIable operating lease5 as follry•V5: Group 2022 Group 2021 Charity 2022 Charity 2021 Not laler than 1 year Later than 1 year and not later than S years 129.995 133.870 126,$37 226.990 129.99S 133,870 126.537 226,990 263.865 353.S27 263.86S 353.527 33. OTHER FINANCIAL COMMITMENTS During the prior year the Charty entered into a finantial commrtment under a contract for the pmwsion of helopte{ services from Casue ATr Limrted whth commen¢ed in June 2021 fty o new Air Ambulance for term 0110 years. The minimum amount payable in dng the next 12 months under the contract terms is £1.168.51612021. £1.159,8821. MEMBERS. LIABILITY Each member of the thafilable company undotsk8S to contribute lo the assets of the company in the event of (( being wound up while helshè is a member, or vrithin one year after helshe ceases to be member. such amount as may be required. Trjt ex¢ee(liwJ £10 for the debts and liabilities contracted before helshe ¢e8ses to be a member. Page 58
CORNWALL AIR AMBULANCE TRUST IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2022 35. RELATED PARTY TRANSACTIONS The consolidated ffinara1 statements of Comwall Ambulance Trust have tsken advania9e of the exemption in Financial Reportin9 Stsndard 102 Section 33.1A in not disclosing intra group transactions th 100% (y•med subsidi¥rie5. Page $9