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← Lia's Wings

2024-03-31-accounts

Charity Registration No. 1138457

Company Registration No. 06935959 (England and Wales)

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LIA’S WINGS LIMITED

(LIMITED BY GUARANTEE)

ANNUAL ACCOUNTS AND TRUSTEES' REPORT (INCLUDING THE DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) CONTENTS

Directors and Trustees
Ambassadors
Advisors
Registered Charity name
Charity number
Company number
Registered office
Website
Telephone		 Dean Gillespie (Chair)
James Mccarthy
Peter Lukac (Vice chair)
Patrick Schoennagel
Lee Doyle
Nicola Donnelly
Anna Mitchell
Shane Christian Dorsett
Melissa Schoennagel
Dr Carol Cooper
Dr Dawn Harper
Levi Roots
Lucy Dimes
Michelle Elman
Dr Nandiran Ratnavel
Dr Lee Collier
Stephanie Kleyman (Solicitor)
Lia’s Wings Limited
1138457
06935959
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
www.lias-wings.org.uk
020 3096 7870

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) CONTENTS

Independent Examiner Mark Cummins FCCA FCIE
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
HSBC Bank Plc
PO Box 1EZ
196 Oxford Street
London
W1D 1NT

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' Report (incorporating the Directors’ Report) 1
Statement of Trustees' Responsibilities 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Accounts 13

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The Lia’s Wings Limited Trustees and Directors present their Annual Report (including the Directors’ Report) for the year ended 31 March 2024, together with the accounts for the charity.

The accounts comply with the requirements of the Companies Act 2006, the Charities Act 2011, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Report from the Chair of Trustees - Our first year of flying with Lia.

As we look back on our first year of flying with Lia, we are filled with immense pride and gratitude for everything we’ve achieved. Lia’s name has inspired us to translate hopes and dreams into reality, helping us grow in ability, confidence, and impact. This is just the beginning, and we know there is so much more ahead.

Key Achievements

This year has been monumental for Lia’s Wings, with our service expanding so quickly:

Our service has never been more in demand, especially overseas, and we remain committed to meeting this growing need.

Partnerships

None of this would have been possible without the incredible support of our donors, partners, and supporters. Special thanks to:

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Also thank you to these brilliant trusts for their unwavering support: Masonic Charitable Foundation, Souter Charitable Trust, PF Charitable Trust, CSIS Charity Fund, ISTAT Foundation and The Tula Trust.

We are also deeply grateful to Patrick, Melissa, and John for entrusting us to carry Lia’s name forward.

About Us

For the past 12 years, Lia’s Wings (previously Lucy Air Ambulance for Children) has established a strong reputation for flying babies and children to hospitals in the UK and, increasingly from abroad. Lia’s Wings is the only charity in the UK that flies children to hospital by aeroplane. Registered in October 2010, as Lucy Air Ambulance for Children, this financial year, the Charity rebranded and officially became Lia’s Wings in April 2023. This rebrand was to celebrate an incredibly special little girl, Emilia Schoennagel, whom the world sadly lost unexpectedly in September 2022.

Becoming Lia’s Wings signifies an important new chapter in the Charity’s evolution, it not only brings a new identify but also extended purpose. Thanks to Lia’s legacy, we will:

Our new logo as Lia’s Wings features a motif to represent the wings of the planes we use and the future flights that Lia’s Legacy will enable. It is the turning of the pages to our future. There are three sections to the motif representing our three new core values.

We are Va lia nt – we are big hearted, pioneering and speak up for the families that need our help. We are Re lia ble – we listen and respond to what families need for however long they need us. We are Bril lia nt – We are passionate and committed, and value every partnership that helps us transform children’s lives.

Through living these values as Lia’s Wings, we build our behaviours, attitudes and partnerships.

The NHS does not have any budget for air ambulance transfers and relies on Lia’s Wings to provide this essential service at no cost.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Objectives

The principal objectives of Lia’s Wings are:

"The relief of sickness for babies and children requiring expert medical care or relocation. We do this by facilitating the provision of a dedicated air transfer service throughout the UK and providing holistic support to their families"

The vision of Lia’s Wings is that safe, long-distance air transfers within the UK are available for any child needing one, regardless of distance or cost. We believe every child is important and deserves the right treatment, in the right place, at the right time.

Achievements and Performance

This year we increased the number of children we supported by 48% on the previous financial year. We are incredibly proud of this level of growth – this lays a solid foundation on which to build our profile as Lia’s Wings. We have consistently helped more families year-on-year since 2020 and this increase in impact remains a core part of our organisational strategy. This growth is a testament to our continued engagement with the NHS and our commitment to increasing awareness of our service. Every year we will stive to be better.

At the heart of Lia’s Wings are the families we exist for. Their stories are at the centre of all that we do. This year, we flew children like Oliver, Kolby and Albie in our flight-ready incubator to receive neonatal care closer to home. Kolby was in London receiving pioneering surgery at St Geroge’s Hospital. After Kolby’s twin sadly passed away, we flew Kolby and his mum to the Royal Jubilee Hospital in Belfast so that he could receive specialist care closer to home. Albie was born prematurely whilst his mum was attending a funeral in Scotland. Lia’s Wings flew him over 500 miles so that he could receive neonatal care closer to home. The majority of families that we support become incredible advocates and supporters of our charity because they have experienced first-hand the impact of our service on them, their children and extended support networks. We remain in touch with over 80% of the families that we have supported over the past 12 years.

This year we continued to expand our service to reach families who need our help overseas. We supported 12 families who required support with an overseas medical transfer – this is a 140% increase year-on-year. A huge achievement this year, is that Lia’s Wings completed our three longest flights ever – we flew Lochlan from Abu Dhabi to Scotland, Mia from China to Liverpool and Rui from Singapore to London. This show cases Lia’s Wings as a charity that is not bound by geography – we have the capability to respond to all referrals regardless of distance. With regards to our overseas transfers, we are experiencing more requests for help due to unexpected situations that have resulted in trauma and significant injury – for example, this year we flew 14 year old Niam back from Turkey after he sustained a life changing spinal injury resulting from a fall from a hotel roof whilst on holiday with his family. We flew Niam back to receive specialist spinal surgery at St George’s in London.

For families, overseas, we not only facilitate the air ambulance/medical flight back to the UK but we also provide practical and emotional support over a sustained period of time. Lia’s Wings is the UK only charity that can help these families – there is no other charity that offers any form of support for British families stranded abroad due to illness or injury. For this reason, overseas medical transfers will remain a core focus for Lia’s Wings going forward.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Everything we achieve is driven by the generous donations and support we receive from our partners/donors. In terms of fundraising, this has been an extraordinary year for Lia’s Wings. Lia’s passing has been a catalyst for change for this small charity. Becoming Lia’s Wings has given us the ability to raise significantly more funds. Our goal remains to generate enough income to fly every child that needs an aeroplane transfer and support every family that finds themselves in need of our service. To achieve our 3-year service strategy, we will continue to diversify our income portfolio and invest in sustainable income streams.

Thank you to all of our funders who supported our charity through this transitional year.

Public Benefit

In establishing the annual objectives and activities which fulfil Lia’s Wings overall aims, the Trustees have regard to the principles of public benefit at all times. The Trustees are aware of and have received copies of the Charity Commission's guidance regarding Public Benefit and have taken it into account, where relevant, in their planning and decision-making.

Our service is delivering positive outcomes for those children and their families, benefiting physical and emotional health and well-being and reducing levels of stress.

Developing our service

The Trustees continue to monitor and explore opportunities that will contribute to the existing objectives.

The key aims and objectives of the Trustees provide the vision for how the Charity will develop over the next 3 years. Aims include:

  1. To improve our neonatal and paediatric capability.

  2. To establish a more robust package of support for overseas air transfers.

  3. To formalise the Lia’s Wings family care package.

  4. To continue to build our profile within the NHS.

Fundraising and Communications

Our ability to raise funds is paramount to what we can deliver for the families that need us. Since becoming Lia’s Wings we have increased our fundraising and we are incredibly grateful for all the support we have received in her name. We will continue to build on these relationships to ensure we continue to build a sustainable foundation which enables Lia’s Wings to continue to thrive.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Equal Opportunities Policy

The charitable company is committed to eliminating any discrimination and promoting diversity and equality of opportunity in all it does. It is the charitable company's policy to ensure that no service user, employee or job applicant is treated less favourably, but not limited to, on the grounds of sex, race, sexual orientation, ethnic or national origin, disability, religion or age. Lia’s Wings complies with all statutory obligations and codes of practice relating to equal opportunities to ensure we eliminate discrimination and promote equality of opportunity.

Structure and Governance

This report has been prepared under the provisions applicable to small companies.

Lias’ Wings Charity is a Registered Charity, number 1138457. It is a Company, number 06935959, limited by guarantee. The Charity is governed by its Memorandum and Articles of Association, which was updated and adopted by the Trustees at the May Board meeting. The Trustees who served during the period were as listed on the Legal and Administrative Information page. As at March 31st 2024 there were 8 guarantors whose liability in the event of a winding up is limited to £10 each.

The directors of the company, who are also charity Trustees for the purposes of charity law, form the Board of Trustees. Two of the Trustees serve voluntarily as Treasurer and Company Secretary respectively. A full Board meeting is held at least six times during each period of 12 months. One Trustee is appointed as Chair and staff are invited to report on the service and fundraising activities.

The minimum number of Trustees is four; there is no maximum. Prospective Trustees are required to complete an application form and declare any conflicts of interest. No person is appointed to serve as a Trustee unless recommended by the existing Trustees. New Trustees are introduced to the Board and briefed as necessary in all aspects of 's objectives and policies Trustees are encouraged to seek training as appropriate, also to observe and follow the requirements and guidelines set down by the Charity Commission.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Risk Management

The Trustees, together with staff, are implementing controls and procedures throughout the organisation to minimise external and internal risk and ensure consistent, high-quality care for the children and appropriate working conditions for the staff.

Risks have been identified to which the Charity is exposed and which might impact Lia’s Wings’ ability to achieve its objectives. To mitigate those risks, policies and procedures are being developed and they will be designed to provide reasonable, but not absolute, assurance against material misstatement or loss. The Trustees have established an ongoing process for identifying, evaluating and managing Lia’s Wings’ key risks. In particular, the following are areas that will be subject to ongoing monitoring:

The Trustees will continue to monitor the risks and the effectiveness of the system of control that has been put in place by the Charity.

Management

The CEO is responsible for ensuring that the delivery and standards of the service meet the objectives set out by the Trustees.

Financial Review

We are reporting on a 12 month period, 1[st] April 2023 to 31[st] March 2024. Gross income of £785,708 was achieved (2023: £562,008). Resources expended in the period were £640,583 (2023: £439,794). £422,354 (2023: £289,155) direct transfer costs were incurred in the year.

Reserves Policy

It is the policy of the Board to build sufficient unrestricted reserves to cover six months of expenditure. The Trustees have no plans to seek borrowings from any source.

The £276,723 of unrestricted free reserves (unrestricted reserves less any tied up in fixed assets) (2023: £125,774) is available to help meet the Charity's running costs and charitable activities. This level of funds is sufficient to cover 6 months of expenditure (assuming a return to normal staffing and activity levels). The board seeks to increase the level of reserves over the coming months.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

A key objective of the Trustees is to ensure the Charity has adequate funding to safeguard its daily activities and meet its financial obligations and commitments. The Trustees are aware of the constant need to secure funding for future years.

Going Concern

Accounting standards require the Trustees to consider the appropriateness of the going concern basis when preparing the financial statements. The Trustees confirm that they consider the going concern basis remains appropriate.

The Trustees have taken notice of the Financial Reporting Council guidance "Going Concern and Liquidity Risk - Guidance for Directors of UK Companies 2009" which requires the reasons for this decision to be explained. The Trustees regard the going concern basis as remaining appropriate as the company has adequate resources to continue in operational existence for the foreseeable future. The Charity has sufficient reserves to make several transfers and the income stream is growing to enable further transfers to be made in the future.

Statement as to Disclosure of Information to Independent Examiner

So far as the Trustees are aware, there is no relevant information of which the company's independent examiners are unaware. Each Trustee has taken all the steps that they ought to have taken as a Trustee to make themselves aware of any relevant independent examination information and to establish that the company's independent examiners are aware of that information.

The Trustees’ Report incorporating the Directors’ Report was approved by the Board of Trustees on

………………………………… and signed on its behalf by;

Dean Gillespie Chair of Trustees

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also the Directors of Lia’s Wings Limited for the purpose of company law, are responsible for preparing the Trustees' Report (incorporating the Director's Report) and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website, legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LIA’S WINGS LIMITED FOR THE YEAR ENDED 31 MARCH 2024

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 11 to 21.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mark Cummins FCCA FCIE on

behalf of TC Group

The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN

Dated: ………………………….

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Income from:
Notes
Donations
3
Grants
4
Charitable activities
5
Investments
Total income
Expenditure on:
6
Raising funds
Fundraising costs
Charitable activities
Provision of air ambulance transfers
Total expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Fund balances at 1 April 2023
Fund balances at 31 March 2024		 Unrestricted
funds
£
720,599
-
64,696
413
785,708
218,229
422,354
640,583
145,125
-
145,125
222,948
368,073		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
48,306
48,306		 Total
2024
£
720,599
-
64,696
413
785,708
218,229
422,354
640,583
145,125
-
145,125
271,254
416,379		 Total
2023
£
534,939
1,000
26,069
-
562,008
150,639
289,155
439,794
122,214
-
122,214
149,040
271,254

All activities are classified as continuing. There are no recognised gains or losses other than those reported on the Statement of Financial Activities.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due
within one year
13
Net current assets
Total net assets
Income funds
Restricted funds
14
Unrestricted income funds		 £
65,100
291,031		 2024
£
91,350		 £


11,704
197,021		 2023
£
97,174
91,350

325,029		 97,174
174,080
356,131
(31,102)		 208,725
(34,645)

416,379 271,254
48,306
368,073
416,379		 48,306
222,948
271,254

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

The accounts were approved by the Board on ………………………..

……………………………… Dean Gillespie

Chair of Trustees

Company Registration No. 06935959 Charity Registration No. 1138457

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) CASH FLOW STATEMENT AS AT 31 MARCH 2024

Notes
Cash flows from operating
activities:
Net income/expenditure for the
year
Depreciation
13
Loss on disposal of fixed assets
13
Increase in debtors
8
Increase/(decrease) in creditors
14
Net cash provided by/(used in)
operating activities
Cash flows from investing
activities:
Purchase of property, plant and
equipment
Cash provided by/(used in)
investing activities
Increase/(decrease) in cash
Cash and cash equivalents at
the beginning of the year
Cash and cash equivalents at
the end of the year
Analysis of cash and cash equivalents
Cash at bank and in hand		 £
145,125
11,077
462
(53,396)
(3,543)
(5,715)		 2024
£
99,725
(5,715)
94,010
197,021
291,031
At 1 April
2023
£
197,021
197,021		 £
122,214
9,887
-
(11,704)
14,965
(27,500)
Cash flow
£
94,010
94,010		 2023
£
135,362
(27,500)
107,862
89,159
197,021
At 31
March 2024
£
291,031
291,031

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1.0 Statutory information

Lia’s Wings is a charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number and registered office address can be found in the Legal and Administrative Information section of the accounts.

2.0 Accounting policies

2.1 Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

Lia’s Wings meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

2.2 Income

All income is accounted for in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy.

Income from donations is accounted for as received by the Charity. The income from fund raising ventures is shown gross, with the associated costs included in fund raising costs. The value of voluntary work is not included in the financial statements.

Grants are recognised in full in the year in which they are receivable and the charity is entitled to the income.

Other income is recorded on an accruals basis.

2.3 Expenditure

Costs are included in the Statement of Financial Activities on an accruals basis inclusive of irrecoverable VAT. All costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

2.3 Expenditure (continued)

Fundraising expenditure comprises costs incurred in inducing people and organisations to contribute financially to the Charity’s work. This includes the cost of advertising for donations and the staging of special events.

Where possible, costs have been allocated directly to the activity to which they relate. However, there are also central support costs that enable the Charity’s charitable income generating and administrative activities to be undertaken.

These costs have been allocated as follows:

2.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment 25-30% straight line Plant & equipment 10-15 years straight line

Assets costing less than £100 are written off to the Statement of Financial Activities and are not considered for capitalisation purposes.

2.5 Investments

Fixed asset investments are stated at cost less provision for any impairment.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

2.8 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.9 Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

2.10 Accumulated funds

Funds held by the Charity are either:

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds – Donations, bequests or incoming resources for which the donor has earmarked for a specific purpose are treated as restricted funds.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.11 Taxation

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

3 Income from donations

Charity boxes
General donations from individuals
Charitable Trust Donations
Other donations		 Unrestricted
funds
£
23,185
52,235
70,274
574,905
720,599		 Restricted
funds
£
-
-
-
-
-		 Total
2024
£
23,185
52,235
70,274
574,905
720,599		 Total
2023
£
27,888
12,607
111,306
383,138
534,939

4 Income from grants

CCG Donations Unrestricted
Funds
£
-
-		 Restricted
funds
£
-
-		 Total
2024
£
-
-		 Total
2023
£
1,000
1,000

5 Income from charitable activities

Event income
Lottery income
Equipment hire fees		 Unrestricted
funds
£
64,696
-
-
64,696		 Restricted
funds
£
-
-
-
-		 Total
2024
£
64,696
-
-
64,696		 Total
2023
£
25,099
516
454
26,069

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

6 Total expenditure

Costs of raising funds
Fundraising costs
Support costs
Charitable activities
Provision of Air Ambulance
transfers
Activities undertaken
Support costs
Total
Total expenditure		 Staff
costs
£
138,595
-
138,595
36,598
-
36,598
175,193		 Depreciation
£
-
-
-
11,077
-
11,077
11,077		 Other
Costs
£
65,261
14,373
79,634
369,809
4,870
374,679
454,313		 Total
2024
£
203,856
14,373
218,229
417,484
4,870
422,354
640,583		 Total
2023
£
142,271
8,368
150,639
284,375
4,780
289,155
439,794

7 Support costs

Professional and legal fees
ICT
Printing and stationery
Independent examiner
Travel
General expenses		 Total
2024
£
2,359
2,480
2,341
3,960
4,215
3,888
19,243		 Total
2023
£
2,000
1,267
860
3,600
3,770
1,651
13,148

These costs include amounts payable to the independent examiners of £3,960 (2023: £3,600) for independent examination and other services.

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year or received any reimbursement of expenditure.

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

9 Comparative funds – Statement of Financial Activities for the period ended 31 March 2023

Unrestricted
funds
Income from:
Notes
£
Donations
3
506,333
Grants
4
1,000
Charitable activities
5
26,069
Total income
533,402
Expenditure on:
6
Raising funds
Fundraising costs
150,639
Charitable activities
Provision of air ambulance transfers
289,155
Total expenditure
439,794
Net income/(expenditure)
93,608
Transfer between funds
-
Net movement in funds
93,608
Fund balances at 1 April 2022
129,340
Fund balances at 31 March 2023
222,948		 Restricted
funds
£
28,606
-
-
28,606
-
-
-
28,606
-
28,606
19,700
48,306		 Total
2023
£
534,939
1,000
26,069
562,008
150,639
289,155
439,794
122,214
-
122,214
149,040
271,254

10 Staff costs

The total average monthly number of employees (number of staff employed) during the reporting period was 5 (2023: 4).

Staff costs
Wages and salaries
Social security costs
Pension costs		 Total
2024
£
159,982
11,429
3,782
175,193		 Total
2023
£
134,652
9,302
3,252
147,206

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Staff costs (continued)

No employee received remuneration above £60k.

The key management personnel of the Charity comprised the Chief Executive. The total employee benefits of the key management personnel were £62,196 (including employers’ national insurance and pension contributions) (2023: £51,525).

11 Tangible fixed assets

Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
12 Debtors
Trade debtors
Prepayments and accrued income
13 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals
Taxes and social security		 Computer
equipment
£
11,467
1,734
(716)
12,485
9,723
763
(254)
10,232
2,253
1,744		 Plant and
equipment
£
152,627
3,981
-
156,608
57,197
10,314
-
67,511
89,097
95,430
2024
£
25,100
40,000
65,100
2024
£
2,508
2,639
20,750
5,205
31,102		 Total
£
164,094
5,715
(716)
169,093
66,920
11,077
(254)
77,743
91,350
97,174
2023
£
11,704
-
11,704
2023
£
24,699
2,026
4,200
3,720
34,645

LIA’S WINGS LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants for specific purposes:

Mission fund Balance at
1 April
2023
48,306
48,306		 Income
-
-		 Expenditure
-
-		 Transfers
between
funds
-
-		 Balance at
31 March
2024
48,306
48,306

Mission fund

This fund represents incoming resources to be used directly towards the cost of continuing and expanding the number of missions carried out by the Charity.

15 Analysis of net assets between funds

Fund balances at 31 March 2024 are
represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one
year
Fund balances at 31 March 2023 are
represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one
year		 Unrestricted
funds
£
91,350
307,825
(31,102)
368,073
Unrestricted
funds
£
97,174
160,419
(34,645)
222,948		 Restricted
funds
£
-
48,306
-
48,306
Restricted
funds
£
-
48,306
-
48,306		 Total
£
91,350
356,131
(31,102)
416,379
Total
£
97,174
208,725
(34,645)
271,254

LIA’S WINGS LIMITED

(LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Related party transactions

There were no related party transactions in the year or previous year.

17 Share capital

Lia’s Wings Limited is a company limited by guarantee and has no share capital.

18 Control

No one member has overall control of the Charity.