Reg￿tered 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 H￿sE
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
Inde￿ndent 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 GuAR￿EEl
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 S￿￿tary
Mr A Vlhition
Sèniot L•adership Tèam Mr T Bunting. Chief Executive off￿￿r
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 N￿re1
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 che￿01
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￿ fr￿n str￿￿1h 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 se￿￿e to the people of cAJr eounty.
We also started a strategK revie* to expl￿ T*hwe else we c•u￿j make the b(ggest Thmpact on patient
outcomes.
This grwndbreakin9 worf( w￿1 set Ihe strat¢9* •3eryJa for ow (tiarity gow￿ fO￿ard. 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 eff￿ts lead lo a far more robust long-tem
improvement plan Ihat has sl￿$5￿1 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 IncT￿7b1Y ¥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 stoc*1 d¢MI last year. Chris Pc4nfret OBE and Bathra Sharples. I
w0￿d like lo record our huge ¢har￿S 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 cJJstt*i)ary er*Tyy 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 prov*Sng critKa Ca￿ to those most wi need. Tr*y do this with great
dedication. cornmilJnenl and profe55ionafwn. but also with a smu• on th¥rtsce51 Well dL￿e 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 8￿nIS 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 $¢gnificanl socio-
econom￿ pressures, we have achieved our best year f￿an(la1￿￿. We ate. however. Very aware of thè fatth
rèsponsibility thal comes with tfvs generosity.
. The success in KKome generatson all¢J¥s u$ lo be boljer In ow ambitions to prwde ¥¢ry best alr
nbulance Se￿￿e 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 h￿￿ever 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 organts*KM)".
Cultwe, ￿slon Vafues-enyJrifyJ our pwle (supP￿ters, ￿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 - prov*JI￿j the n￿ary 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￿$$ Intell￿erte - en￿n9 th)nated funds are ￿veSted well and we have the
informatson to make informed deasirms.
l am ￿e￿ghted 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 sU￿e$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 plan￿n9 is possible due to a huge leam efforL Staff, ￿re￿, Groundcrew volunteers
(who donate thousands of hour5 of b.mel Ihe tir*ss 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. part￿pakn9 in an event. putb.ng pennies ih Ihe pot or leaving a Wing lÈga¢y through a gift
in their VMII.
A huge th￿k 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 fin*cial 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 reqU1￿Ments, 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 apP￿Cable 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 prOvis￿n 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 rel￿S on the loc￿ c¢)mmunity to raise sufficient fvnd$ lo deliver the service without receivlng
regular governrnenl funding ¢x support from the Nat￿81 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¢i*ist 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* a￿led. 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 ObV￿uS 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#y￿Y 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 VISIt￿S lo the area. Last year. the Chapman famity were on day one of their trip
near Padstow when 12-year-old sUff￿ed 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 ny￿e. adryMni$lered an EpiPen
and gave him Venlolin. After no wnmediate effecl she admThSt￿ed a second E￿Pen and called 999.
Dad Ma¥k had jumped in the car and was drtvirwj over to the holiday park recep￿n. 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 reaCt￿n 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 statt￿l-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 C￿np￿n 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 rel￿1 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 eaS￿r 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 Is￿5 of Scilly to gauge weather conditions IA North Corr￿0811.
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 $C￿e 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 ar￿ed, 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 fi￿t 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.
Vi*tors 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 T￿￿t
{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 paI￿nt 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 SerV￿e 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 k￿1 due to hefwer technul is$￿. and Ihe annual total of responses being
similar lo previous year5.
Category
ledKal 2
Traurna 477
carf￿C •lrre5t
331
Vehicle
Crit Care Car
Helicopter
This year also saw construction start on thè £1.9M new operalions buikling to fUtu￿￿rOOf 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 p￿ned 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 M￿ager 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 deliver￿1 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 GuARA￿EEl
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 Ag￿rnent 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 governar￿e
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 pr￿lSiOn 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, $upporb"rg heatth¢are ¥ross the wiort.
Castle Air
Comwall Air Ambulance aFpoinled Caslle Air as the tharity's new helicopter operator in 2021. While the
charity owns the AW169 helicopter. Cas1￿ AJ"r hc4ds the opeoling license for the aircr*t and is responsib
for the maintenance of the AW169 and bad(•UP AW109 heticopters.
Other key stak•hold¢r partn•rs In¢lude:
Air Ambul8nce5 UK
Brislow {Search and Rescue)
Comwall Airport Newquay
Cornwall COU￿￿1
der ernerger￿ Servi￿ partnws
Groundcrow play vltal ro￿ oncè again
Comwall Air AmbUla￿e would not operate withcAJt the support of its volunteers. known as the 'GroundcTew'.
Charity retail maintain5 se¥￿ shcp5 With paid staff supporting the many volunteers. The charity coukl nol
operate the shops Mlhoul the support of volunteers and the hard work of the teams to ensure volunteers are
safe, happy and understand their value to the charity.
Investing in Volunteers status was achieved for a second time in 2022, and this is testament to all the efforts
of staff and volunteers who maintain the prcKesses and procedures on a daity basis.
The volunteers who SLPPOrt&J the charity through communty f￿dryd1$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 obje￿Ives, 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 Opp￿￿nitieS for growth. Working closety with
coneagués ensures the charity's actiVit￿S 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 poss￿le. Subsequently the charity experierKed a decline in
new players. and was reiianl on e￿$ts"ng players b)yally retainiryJ their subscriptions.
Compounding this. the charity lost several longstsnding canvassers. due to cirujmslances outside of bts
control. Comwall Air Arnbulan¢e was *ased to eventuatly restart rts lottery ¢anv355ing when Tt was
considered safe to do 50. Follrming Ihis p￿10d, Ihe charfy has tried exceptiOAalty hard to rebjild the lottery to.
pre-covid leve15. It has undertaken a rebrand from Mission Maker lo the "C¢xnwaJl Ar Arnbuknce Lollery.
which is a fanlasti¢ way to create a guaranteed regular income f¢Y the Charity.
The lottery is managed by an external lottery manager. "Lottery Fundrai$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 Ch￿f Executive hold the Gamblin9 L￿nCe. Loltery
lundraisin9 being reguL3tsd under both Gambling Commission laws and Fundraising Re9ulalor Codes of
Practice. The charity holds quarterfy com￿lanCe 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 e￿stIng
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[nI￿ledged al the p￿ti￿OUS 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. Cornw￿1 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 $u¢¢essful year fty the Comwall Ambulance relali team. who brought in
£1.2million of incune to the charity. This was am impressNe achIeV￿ent following the challenge5 of the
Covid-19 pandemiG the p￿viouS years. The team re-eslabli5hed Telationships with regular customers
who returned lo [￿-t0¥fa￿ ShOp￿n9 and kept measures as sueens to ensure customers, stsff and
volunteers felt safe. Income and donations went back lo pre-pandèmic levets. with a total of 665.000 items
being sold across the seven shops within the 12-month perK)d. Key Sims for retail acros5 the year included
the continued excdlence in customer service, Gift sHJn ups and increased charity awareness withln all
stores. During the year, the ¢harty employed new retail managers arKI logi4b"¢s ijrivers. making sure all
sevan stores are ful￿ staffed. The success of the eharity's retail team would not be possible without thè hArtI
work and dedication of the shop volunteers. The strong CO￿ of Gfound¢few relumed lo vdunteering, kindly
dedicating their lime lo everything from steaming clothes to sorting donations, mth.ng sure the Shops njn
smoothty. Following a strong lirst year out of Covid and looking to the fuiure, the goaf is to expand retail
though opening new sto￿$ across Comwall WKI refve5hing the extsting one5. 11 is hoped that this will
generate further income and further increase the charity's presence within to￿1 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)mm￿dats)ns on its current 5ervi¢e provision. This
was delivered by Professor Oawd Lockey who is the Clinul Director for the SeveTn Major Trauma Ne￿Or1(
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 recornmendal￿nS 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 Arnbu￿nce 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¥&J*Ae generosity thr¢JJghout 2022.
In a record-breaking year, they have ratsed the vital frjnds needed to keep Comwall Air Ambulance
res￿ndIng 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 dIffe￿O¢e. 11 also exterKls it grateful thanks to all 287 Groundcrew. WI￿oUt 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 y￿e that demon$lr¥le effe¢tNely we
ara doin9 in a¢hieviro our key business gO￿5_
As part of our monthty Management kcounls. we ath.vejy measure and monitor the pounds raised pe
employee and Ihe percentage relating to our Charitabk Objects. These 5tati51ics enable Trustees lo
understand in real time the performance or contribution of each activity.
In addition. the Charity Relail A$s￿latIOn 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 s￿nIfiCan11Y 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￿ ￿. EXP0Th￿ilUre
1 474Skq
2bi4
-l*¢th
Incomè
In￿me 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 bUi￿j1ng.
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 actI￿tIeS undertaken by the charity. The trading company delivered an
Operating Profil of£7K wtrwch was donated lo the Charity.
FINANCIAL POLICIES
Re$eTves Policy
The Trustees have eslablished a ReseNes polw lo ensure the conlinuation of the air ambulance service in
the event of a shortfall of income over expendilure in any one year or if a majoi fijnding SI￿aM slops
abruptjy. The ￿seNe leve15 have been sel to be sufficsent to cover day to day activ￿e$, 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 t*en account of the risk
analysis. primarily financial and operab"¢nal, the probability of I0￿redUction 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 chari￿s total funds were o¥ef £23.7M (Incre￿ f(om £19.3M in 20211. which were
made up as fdlows..
RESERVES IN 2022
F￿*￿A$S￿l5-
WJ69+tfkntotfT
Rep*empnt
I￿￿51m￿nt
The resultant free reserves of £8.9M is •b(Ne the level reqUI￿d 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 proV￿e dI￿retIonary 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 unre*ised 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 wF*h *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 "cOst￿f4￿1ng. 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 year*r)d give the Trustees a reasonable expectats'on that the Charity
has atyuale reSoUr￿S lo continue in operational ex￿lence 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
m￿Orand￿m & Arudes OfAsS￿l3￿0n 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
NcKnInat￿￿S and Remuneratjon
M•thod$ of appolntment or elt¢tion of Tn￿t•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 WOl￿d 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 Tn￿tee$
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 ne￿orking events. days covering
aspects of Governance and trustee responsibilities irtluding training WLth Cwil SocietyNCVO in London aTh
locany based experts n the Charity SeL*or.
Organisational Structure
The Board of Trustees deleg*e the day to day runnwig of the ch￿ty to the Ch￿1 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 decis￿A$ 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 (CO1￿1NuED1
FOR THE YEAR ENDED 31 DECEMBER 2022
RISK MANAGEMENT
The Truslees have ass055ed the major risks ¢0 which the Charity and the group is eXp￿ed. 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 Cornrr￿ttee. 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 pro￿Se$.
The Committee has resp￿%￿lIty for ensuring the adeqLW of risk mana9emenl. internal control and
governance arrangemen15 on the implementsiion of a Strategic plan and ￿l¢le$ 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 finan￿al stability and diversified income
streams provide mitigats"on.
Ability to adapt ¢osts and Overheads oveT time.
Conlinual
improvement
into
reach
and
engagernerht t￿ether 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
bre*h.
Resilience in key positw)ns, due to tean
structure.
Lack of sU￿ssIon 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 Suc￿sS 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 kno￿tr. 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 dIffi￿tt 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 benchm*k 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 RernUnerat￿n Committee before bein9 ratified by the Board ofTruslees.
Senior EX￿￿tIVe 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 a￿vOcateS greater transpamcy and the Chartty reccgnises and ac¢epls
those recommendati¢Ms. As a ￿$VIt. the Charity prowdes detsib of the nL￿ber 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 sen￿r pay and VAII continue to k￿P 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 respI￿SibItr 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 th￿r ￿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 ￿nsIsten￿Y'.
obseNe the methc*Js 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 $tatwnents,'
prepare the financial statements on the goirwj concern basis unle55 it 15 inapprcpriale to presume thal
the Gr￿Jp will continue in business.
The Trustees are respongble for keeping adequate a¢￿untIng records that are SLtfficienl to show and explain
the Group and the Charity's transactions and disd05e with reasonable accuracy 31 any time the financial
position ol the Group and the Charity and enable them to ensure that the finarrial slalements comply with the
Companies Act 20C6. They a¥e a150 respons￿le for safe9uarding the assets of the Group and the Charity
aThJ hence taking reasonable steps for the preventKJn and detection of fraud and other irregularilies.
Dls¢losur• of Infomiation to auditors
Each of the person5 who are Trustees 31 the time when this Trustees. raport is approved has confitmed that
so far as that Tvustee is aware. there is Th) relewanl audil infomialion of wtrmeh the tharitable group's
audit¢y$ 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 F￿MIng LLP. have indtiled theirwillingness to ¢ontinue in office.
Approve<l by onler of the men**rs ofthe L*)ard of Trustees signed on th￿r 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 B￿ance 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 P￿tICe).
In our opinim the f￿anCIsI stslernents".
give a true and fair v￿W 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 un￿ed ￿gdOM Generally Accepted Accounting
Practice- and
have been prepared in awdan¢e wth the requr¢m$nts of the Companies Act 21x16 arHI the Charit*s
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 re￿rt. 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 Repo￿n9 Counal's Ethic￿ Standard. and have fu￿111ed 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 INFO￿TIoN
The other inf(¥rnakn coryrise5 the wrforThth"on in the Annu4 Rep)rt othèr than the financial
statements and our Auditors. Report ther￿n. The Trustee5 are responsible for the other information contained
wrfhin the Annual Repthl. Our c4)inh)n on the financial State￿￿ntS does not cover the other infomafion and,
except lo the èxtent othemse explicit￿ stated in our re￿rt. we do not eXp￿sS anyfomi of assurance concJ¢Jsion
Ihereon. Our responsibility ts to th& other information and. in doing so. cOns￿er whether the other
informalv)n i# materially in¢on￿stent With the financral statements or our kn(Mfedge ublained in the course Of the
audit, 01 other4*iSe 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 c￿clude that there is a material
misstatement of this other information. we are reqUI￿d to ￿r*￿t that fact.
We have nothing to report in this regarf.
OPINION ON OTHER PAATfERS pRE￿RIBED 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 krth￿ed9e and understanding of the chaiitable company aThJ ￿S environment obtained in Ihe
course ofthè audit. havè identrf*d m*iial misstaterr*nts in the Trustees, Re￿L
We have nothing to report in ￿spect of the follow*ry 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 I￿l wsited by us.. r
the parent charitable compwy f￿a￿al 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 acal￿ance wth the smal companies
regime and take alvantage of the small compan*s' eXempth￿s 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￿$1bl1rtles Slalement, the Trustees (who are also Ihe dire¢lors of
the charitable cornpany for the purposes of company knyl are reSP￿sib￿ for the preparatgm of th& financial
stalements and for being satisfied that they gNe a tw$ and fair vM¥, and for such internal control a5 the
Trustees determine is n￿SSary lo enable the wepar*on 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 d*Je 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$hgered material if, indiv*Jually or in the aggregate. they coukl reasonab￿ be
expected to inlluen¢e the economic derysions of users taken on the basis ofthese financkal slalernents.
Irregularities, inekjding frnu¢J. are instsnces of nonthcompliancewlh laws and TegulatrDns. We desun procedu￿¥
in line wrth our responsibilitses, outtined above. to detscl material misstatements in iespecl of irregijlarifies.
induding fraud. The èxtent to wlM¢h our pr￿edureS a￿ ¢apable of dete¢b"ny wregulaiilies. Induth"n9 fraud is
etailed bebw".
We have consh1t￿l the r)ature of the indu4ry and sector, control enwfonmenl and bU￿nesS
perft)m)ance.'
We have cons*Jered the results of our enquiries of management and the t￿ Board
theii own idenliffcalion and assessment of the risk of iffegularities."
For any Matte￿ ￿entsfie<l we have obtained arld fewe¥￿1 the parent charit*)le cornpanls
documentstion oftheir poI￿leS and procedures ￿LatIng to-
Idènlityng. evaluating and complying with I￿$ and regula￿n$ ￿￿ther they were ￿re of ary
inston¢es of non¢ompliance,'
- Detectrng and re5pondin9 to the risk of fra￿1 and whether they ha¥e kn(p•AgJge of actual. suspected or
alleged fraud,. and
The internal Contro￿ est￿lished 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 Stat￿nts 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 klentir￿1 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 manageff*nt 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 st*emenls. Thè key law5 and regulations we
considefed in this conte*X induded the chanb.es SORP IFRS 1021- Attountin9 and Reporting by Charit￿5 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 &npkn￿n¢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.'
Document￿9 and valNJating the control enifjTonment for incOw￿ and debloTS and carryirvJ r#Jt walkthrough
testing.,
Undertakiny 5ubstantwe s￿pIethed tes￿n9 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 dOcUff￿nI£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 pr*xedures 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 rnan￿ement 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 Signif￿nt
transadvjns that are unusual or OLtsKle the nomial c(yJrse of business.
Wè also communi¢aW rélevant I￿S 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 Orthro￿h 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 tran￿cti￿$ refierted in the
finan¢i?I statèments. the less lthety we would beccffje awn￿ ol it.
A fvrther description of our responsknll￿eS for audit of the financial ststemènts is k￿ted 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 regul￿d 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 res￿ns￿11￿Y to anyone other
Ihan the charrtable tompany rts members. as a t￿y. 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
ch*ita￿e 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
3￿9.816
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 respOn￿bIlitieS for ¢orytying Mth the requirements of the Aci with respect to
accounting re¢ords and P￿paratson of finarncial stalemenls.
Thè finanaal statements were approved and 8ulh¢yised for issue by the Trustees a￿1 $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 c￿e
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 move1r￿1 in lunds for the yearwas £4.347.701 (2021 - £1.368.2521.
The Trusteès acknowledge thw"r r*sp(￿bilItieS for Compl￿n9 vrith the requirements of the Act wilh respect to
a￿O￿nting recor(Is and preparation of financial statements.
Th& finants￿ st*ements were rywoved and a
Jri5ed for i55ue by the Tn￿lee5 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 actIv￿eS
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 f￿M part olthese finanual Stalen￿¢$
Page 32

CORNWALL AIR AMBULANCE TRiIST
{A COMPANY LIMITED BY GUARANTEE)
NOTES TO ThE FINA￿lAL 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 inwpor*ed 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 Rep￿ting Standard
aP￿Icable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Comwall Air AmbuFance TNSI meets the definI￿n of a pubk tenefft enbty under FRS 102. Assets
and liabilities are initialty recognised at histOTuI cost or transaction value unth othe￿iSe 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(￿s￿ld?*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 W￿nt financ¢al position alongside the
bud9sL 0$ well as the rash Po51t￿jn. 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.
P￿e 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 re￿Nable. 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¢tivit*s 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 B￿an¢e Sheét. Where income 15 recewed in advance of enlitlemenl of reeèipt,
its recognition 15 deferred and included in credrtors as defe￿ed income. Where enb"tlewnent 0¢¢ur$
before inwrre is reGeNed. Ihe 15 xcfLbed.
Inc¢Jme lax recoverable n re￿tI)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 rtj1i9at￿n can be measured relrabty. Expenditufe 1$ ¢la$sified by xlNty. The costs
of each aCtI￿ty 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 I￿ludeS costs of an ftxKlraising acIM"tw events and nOn￿ar￿abl• trading.
Expendi¢ure on ¢harit￿e 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 F￿an￿al Acl1vit￿S over the expected useful lives of the assets
conGemed. Other grants a￿ credited to the Consolidated stat￿nt 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 notffi￿litin 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 reGcsnIt￿n, 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 I￿1r re*dual 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
P4qotorvehh*s
- 25% pw annum on the reduutvJ balance
method
Shop rt(ture5 and fittings
- ovèr 3 yèars
Equipment {including Mrcraft - ovw 3 or 5 J*8rs as aF4xopr*ts
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￿ SI￿et date. unless the value
cannot be measured relBbty in which case li ￿ rnèa5ured at cost less impair￿EnL Investment gains
and losses, whether realised or unrealised, are wnbined and presented a5 'Gain51{Lossesl on
investrnenls. in the Consolidated Statefflenl of FIr￿n￿ra1 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 SI￿￿￿￿0¥1ng stocks. Cost indlth ￿1 direct costs and an opproprote proportion of T￿ed
and variable overheads.
2.10 DEBTORS
Trade and other debtots are rÈcc*3nisÈd 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 Obr￿atiOn 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 sett￿ment 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 fina￿1?1 fiablit*S 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 v*ith 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 fi￿C￿l st*ements.
Investment Ir￿￿ne. gains and bsses we alrxated to the appropriate fi￿d.
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 eV￿Uated 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.
Crit￿1 accounb.ng estimates and a55umptions".
The Charity makes estimates and asSUrrfttk￿S conceming the future. The re5ulling xcounling estimates
and assumptK)ns w¢ll. by defIn￿On. 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 resF*d of •s50Ciated kn"mirtg of revenue
re¢ognttion and estim*on 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
Cov1￿19 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 AC￿TIEs
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
SUmn￿ry by fund typ•
Unrestricted Restricted
funds
funds
2022
2022
Totsi
2022
Total
2021
Provis￿n 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 STATEmE1￿s
FOR THE YEAR ENDED 31 OECEMBER 2022
10. A￿ALySIs 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 equ￿￿1 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 pen*on costs) eX￿ed￿￿
£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 JAnv*y2022
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 Ja￿￿y2￿￿z
Chatge lor1￿5
.022
46JJ24 156335
16285
97Q.
11.474
91825
rie.057) 171.8JO1 171&3451
I361.￿8
1869,2401
7aiu8
43J17
127,824 2W1 314449
1.991￿2
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

CORNwALL￿RAl￿8vLwKETRI1sT
IACO¥PANY UP￿￿EDSyGU￿RAPff£El
NgTES TOTHE FINANc￿LSTATEMENTs
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. PRINCIPALSu￿O￿Ry
¢mTT￿M9 Lvrd
1W%Y
CtyTr*al TR84tiY
.%Y
Thy
Profitfar
yèar
rÈ glft
c￿ATT￿j1Trg LKr*d
F4rnI￿rAmbU&rrfeSev￿e5T￿￿
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
￿n￿striCted
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
He1￿C￿le¥ 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 athjitic￿s made in ￿ar and hist￿7¢31￿ funded throu9h general fvnds.
22. DESIGNATED FUNDS
Hèlicopter Replacement Fund
This fund was eslablished lo hokl ftjnds for the ￿plaCen￿t of ihe aw ambulance helicopter. The
Trustees ag￿ed 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 aCquiS￿On 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.$00
received in 2019 from the Department for Cdtufe. Media & Spor( trNards the cost of the new helicopter
purchase.
Helicoptèr AW169- DHSC
This fund reftects the £S00.DDO receivgj in 2019 from the Department of Hearth and Car¢ towards the
new heli¢optef purchase.
Airbase Contra¢tion {SVIRDAI
This fund repre5ent5 granl awafded 9i¥en by South West Regional tkvek)pmenl Agency towards the
st of ConStr￿tI)n ofthe air ambulan¢e LN)watK)ns faolty and head office.
Ann&x• ILIBORI
The annexe fvnd reprnsents monies receNed from HM Treasury from LIBOR bank fines. The money was
gThien lo build an annexe to dovebp the aithse facilities.
Wellaro & Pastoral Facllities {DCMSI
The lund represents the grant fvnding usry to develop k> sUPPQrt the wolfare of the air
ambulance crews.
Rapid Response Cars
The fund repfesenls the proport￿Tr of reslriGted grant fvndwlg lawards the pur¢ha$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-CURRE￿yEAR
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
Su1￿mARy OF FUNDS- PRIOR YEAR
Balance at
31
Gainsl December
(Losses)
2021
Bala￿e at
1 January
2021
Transfers
i￿Out
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 B￿EEN 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
un￿tsICted 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 Act￿es)
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 ￿a￿st the Charity. At the date of this report. the likely
outcome nor financial wnpad on the Chanty carnot be retrabty eStin￿led. 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 COMMITME￿s
The Charity operates a defined contn"bulion pen￿oft scheme. The assets of the Scheme are held
Separately from those ol the group in an independentty administered fund. The penS￿D 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 comnyknw￿s to make futurè minxnum 18ase
payments urKler r￿nCelIable 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
hel￿opte{ 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 d￿ng 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 ffina￿ra1 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