Registered number: 07805796 Charity number: 1144097 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (Formerly known as Wiltshire Air Ambulance Charitable Trust) (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report 3-13 Independent auditor's report on the financial statements Consolidated statement of financial activities 14-17 18 Consolidated balance sheet 19-20 Charity balance sheet Consolidated statement of cash flows 21-22 23 Notes to the financial statements 24-53 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Rob Kevan, (Chairman) Mike Fellows, (VI￿ Chair) Kevin Basnett Nick Charlton Shelley Rudman Graham Seaman Anna Cole (resigned 31 December 2024) Rachael Lawes (appointed 3 April 2025) Oliver Findlay (appointed 23 April 2025) Executive Management David Philpott, (Chief Executive) Team Barbara Gray, (Deputy CEO) Giorgio Bendoni, (Director of Aviation) Dr Maria Smith. (Medical Director) Danielle Friend, (Director of Finance & Infrastructure) Kellie Chandler, (Director of People and Wellbeing) (appointed 15 February 20251 Company registered number 07805796 Charity registered number 1144097 Registered office Operations Centre Outmarsh Semington Wiltshire BA14 6JX Company secretary Create Balan￿ Limited Presidents Richard Youens (deceased 19 October 2024) Chris Lear Independent auditor Crowe U.K. LLP Fourth Floor St James House St James Square Cheltenham GL50 3PR Page 1 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Bankers Lloyds Bank 38 Market Street Devizes Wiltshire SN10 1JD Investment Managers James Hambro & Partners LLP 45 Pall Mall London SW1Y 5JG Solicitors Goughs Solicitors The Strand Calne Wiltshire SN11 OJU Page 2 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the audited financial statements of the Charity for the 1 January 2024 to 31 December 2024. The Annual report seNes the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. OBJECTIVES AND ACTIVITIES Charitable Objects and Aims (Amended 07.02.2025 The Charity's objects are "the relief of sickness and injury and protection of human life by providing and supporting an air ambulance Se￿iCe for the county of Wiltshire and adjacent counties" in February 2025, after the period upon which this report relates- this was altered to 'surrounding areas, as it better reflected the service provided. Public Benefit The Trustees have had due regard to the Charity Commission guidance on public benefit as issued under section 4 of the Charities Act 2011. The public benefit provided by the Charity is the relief of injury or sickness through rapid treatment andlor transport to a hospital or other care facility as appropriate. This benefit is available to anyone and everyone in Wiltshire, Bath and neighbouring counties, residents or visitor, on the grounds of a fixed set of criteria, which take account of factors including clinical need, urgency, accessibility and distance to hospital. The use of these criteria in deploying the aircraft is regularly monitored and reviewed to ensure they are rigorously applied. No private benefit is given to any person or organisation. Main Objectives for the Year 2024 In its 13th year as an independent Charity and 34th year operating the air ambulance service in Wiltshire and Bath, the objectives which had been identified at a board and Executive Management Team strategy day in December 2023 were actioned as follows. Charity Rebrand Following stakeholder engagement, rebrand as Wiltshire and Bath Air Ambulance Charity (or similar) and fully re-launch the Charity across the wider geographical patch. In early 2024, following agreement from the Board of Trustees in 2023. an independent (externall company was appointed to hold stakeholder discussions regarding a potential rebrand and renaming of the Charity. In November 2024 Wiltshire Air Ambulan￿ was renamed to Wiltshire and Bath Air Ambulance Charity and was announced at launch events. one in Wiltshire and one in Bath. The Charity received a fresh new look. logo and updated tone of Vol￿ in its communications, to go alongside its new name. Page 3 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Mission, Vision and Values Hold a team-wide consultation on our Mission, Vision and Values by setting up a working party with staff and T￿stee representation, and report back on progress to the Board at the annual strategy day. A working party was convened representing a cross section of staff and tMo trustees under the leadership of our medical director Dr Maria Smith. Following many months of internal discussions, a proposal was set before the Board at the strategy day in December 2024 and adopted unanimously. Implementation will be rolled out in 2025. Environmental Sustainability Rollout the Net Zero Roadmap that was adopted by the Boaftl in December 2023. Specific objectives in 2024 to be.. Install air circulation system for optimal heating Whereas the Board approved a budget to roll out air conditioning throughout the building, uncertainty as to its impact on our net zero emissions caused us the defer this initiative until more reliable information was available. Improve data quality We continued to improve data quality, in particular through our relationship with Positive Planet, our sustainability partner who provide an annual net zero report. Start sending annual supplier sustainability suNey This remains an ambition and we recommitted to ensure all suppliers utilise renewable energy sources, however we judged that market conditions and the general economy were not yet ready for such a proactive move. Develop and implement sustainable procurement and travel policies. Again, this remains an ambition and we recommitted to ensure all suppliers utilise renewable energy sources, however we judged, the same as the above. that this was perhaps a step too far at this point in time. Start providing Cart)on Literacy training to team members We delivered carbon literacy training to 71 % of the workforce. Principal Risk and Uncertainties facing the Charity The Trustees have in place a formal risk management process to assess Strategic and Operational Risks and implement risk management strategies. This involves identifying the types of risks the Charity faces, prioritizing them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks. The Executive Management Team keeps all risks under review, focusing on specific risk areas at alternate fortnightly EMT meetings. Every board member has an overseeing responsibility for allocated areas of risk and any changes to the risk profile as recommended by the EMT are notified to the risk holder and wider board for comment and amendment. The Risk Register is an agenda item at every board meeting. The Charity has clear internal prO￿dureS for preventing fraud and theft and protecting the Charity and the public and it has a policy of zero tolerance of the same. Operational Development Activities and Achievement Activities funded - The Charity continued to fund the loan seNicing and repayments along with the operating cost for the aircraft and maintains a Charity team which includes all non-operational staff, consisting, at 31 December 2024 of 32 members together with Iwo Charity shop staff and four contracted experts. Page 4 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Many of the Charity staff work part-time or flexible hours to foster a supportive working environment. Additionally, five pilots were directly employed by the Charity and a freelancer was engaged to cover absences. The specialist critical care paramedics (SPCC) were employed by the South Western Ambulance Service NHS Foundation Trust ISWAST). In order to run a 19 hour a day servi￿, the Charity met the salary costs of personnel in excess of seven whole time equivalents who are funded by the NHS through an agreement with the ambulance service. The Charity required 15.5 whole time equivalent clinicians. made up of doctors and paramedics. ACHIEVEMENTS AND PERFORMANCE Operational Statistics We record annual deployment statistics from January to De￿mber each year so as to conform with the national standard of all other air ambulance charities. This allows for like-for-like benchmarking in the analysis of data. For year-on-year comparisons see illustrations below. In 2024 we simplified how we capture our data on the locality of our missions. Mission Rep,ort Wh￿lre MISSION REPORT MISSION MAP 2023 AlrAm￿la￿ 2023 1,343 1,167 ffl Hekr Mission total: TOT 646 1,167 646 521 ••• total misstons 521 619 724 231 157 Thwssions MwP$￿ DISLIO 287 IUHB 72 fig 1. 2024 mission map and report fig 2. 2023 mission report fig 2. 2023 mission map Operational Availability and Costs During the reporting period, the Charity covered all operational costs associated with the helicopter, including the employment of pilots. The NHS funded seven whole-time equivalent <￿E> paramedics of our required cohort, which comprised a total of 12 paramedics. One paramedic held the role of operations offi￿r {00) and was responsible for ensuring adherence to Ambulan￿ Service Standard Operating Procedures (SOPS). This individual also served as a key liaison be￿een the Charity and South Westem Ambulance Service NHS Foundation Trust (SWAST). Page 5 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Clinical governan￿, paramedic competencies. and ongoing training were overseen by our medical director Dr. Maria Smith. Additionally, we engaged a number of emergency medicine doctors. To ensure a consistent on-board medical presence, the Charity funded regular shifts by either contracting time from these doctors, respective NHS hospitals or through direct employment. A Service Level Agreement (SLA) with SWAST was in pla￿ and was identical to that of three other air ambulance charities in the region. Under the terms of this SLA (as from time to time amended) SWAST provided the following.. Seven WTE qualified SPCCS, including unsocial hours and on-COSt payments Fuel, insurance and driver training for all critical care cars Standard issue (green) uniforms PPE for all operational crew The equivalent cost of the obligated seNI￿S provided under contract by SWAST have been valued at £506,909 (2023 £526,447) these are included in the financial statements as both income and a cost in order the charity shows the 'true' cost of the operation. The Charity is responsible for setting the strategic direction of the seNice. informed by the expert opinions of the crew. Day-to-day mission activits'es are guided by Standard Operating Procedures (SOPS), which are jointly agreed upon. Outcome and Impact The Charity provides critical care at the scene of accidents and medical emergencies, stabilising patients and frequently transferring them by air to emergency hospitals. Due to patient confidentiality safeguards and data protection laws, it is often challenging to track the full patient journey after handover to the hospital. However, when patients or their families have reached out to us afte￿ards. we have received powerful and often deeply moving accounts of the difference our service had made - not only to the patients themselves but also to their families, friends, and wider communities. With their permission. we shared these stories through our newsletters, social media, website and other media to highlight the real and lasting impact of our work. These personal testimonials helped demonstrate to the public how their generous support and fundraising efforts truly save and change lives. Fundraising, Income Generation Activities and Achievements The financial performance of the main income streams is covered in more detail in the Finance Review below, however the Trustees are pleased to note that in its 13th year as an independent entity, the income of the Charity was £5.33m. Although this is less than the £8.94m reported in the previous accounting period, we did not expect it to be duplicated in 2024 on account of some significant legacies in 2023. In the context of continuing pressures on charitable giving, driven by global economic uncertainty, and the ongoing cost of living crisis, this financial performance was a significant achievement and a testament to the adaptability of the Charity and the commitment of our supporters. The cost of fundraising was just under 15.8p in every £1 spent, a reduction from the previous yearfs 17.5p. For every £1 spent on fundraising the Charity raised £4.83. Expenditure directly on the operation of the medical service was 61 %. Page 6 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Performance Review The following provides a brief overview of the key income streams" The Lottery continued to be a core element of our income. generating £1.26m. This represents a marginal decrease compared to the £1.27m raised in the 12-month period to 31 December 2023. Grants and Trusts income increased significantly to £194k. a 24.￿ increase on 2023 up from £155,813. Legacy income drove the high income levels for 2023 as the Charity recognised £5.25m. This was not repeated in 2024, but with the legacy income at £1.67m. this was sts-ll a noteworthy achievement. Community Fundraising generated £401k. a decline on 2023's £463k. This was due largely to how we started reporting on events and community income during the year in review. Corporate Fundraising income (excluding the Business Club) was £43k. down from £103k in 2023 as we saw fewer corporates being involved in charitable activities. We believe this was most likely the result of our strategic decision to invest time in he growth of the Business Club. The Trading Subsidiary, Your Air Ambulan￿ Limited. is responsible for all trading activities for the group. The recycling contract continued to bring in much needed funds and the shop in Devizes was running well under new management. The total profit for the year was £96k. which is paid in full to the parent Charity. The Emergency Awareness Training programme (EAT) continued to show growth, generating £23k (up from £17.9k in 2023) but subsequently renamed Aware + Event income increased to £176k up from £92k in 2023. Whilst some of this growth is due to recording income from Middlewick House Open Garden. there was also additional growth thanks to investment in this income stream (see community fundraising above). Volunteers When volunteers are recruited, following a basic DBS check. a full induction process is given as part of their training, along with training meetings and any additional upskilling as and when required. Upon recruitment, each volunteer will re￿1ve an official ID badge, lanyard and polo shirt. The ways in which the volunteers support us include speaking to clubs, groups and schools. cheque presentations, attending events, bucket collections, being the mascot. ts-n collectors. gardening, admin tasks at the base and our Devizes Charity shop. During the period under review we have 120 active volunteers. which included 20 shop volunteers, up from 108 in 2023. We recruited 32 new volunteers in 2024, and naturally lost some because of the age demographic of many in this group. In total, for 2024, our volunteers gave 7,932 hours of their time to the Charity, which is equivalent to four full-time staff members for the year. A special event is held every year to celebrate our volunteers. thanking them for all of their help and support. Volunteer meetings are held every quarter at the airbase, and this gives us the opportunity to introduce new volunteers, update them with new information and to invite external speakers to provide information to support them in their roles. We celebrated Volunteers, Week at the beginning of June. with social media posts of quotes from our volunteers illustrating the Importan￿ of why they volunteer with us. Page 7 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Investment Powers and Policy Under the Charity's Memorandum and Articles of Association. the Trustees are given investment powers, subject to the restrictions imposed by the Trustee Act 2000. Our approach to risk is cautious and the Board has adopted an Ethical Investment Policy to ensure that its investments do not conflict with its aims. This policy precludes direct or indirect investment in companies that generate more than 10 % of revenues from alcohol or tobacco. We will not invest any monies in Government Bonds or companies trading in countries where there are oppressive regimes, which do not uphold basic human rights. Reserves policy The current Reserves Policy is to hold 12 months of planned expenditure which we estimate to be be￿een £5m- £6m on an increasing trajectory. Additionally. the Board had made a designation of £3m towards the purchase of a replacement helicopter circa 2027 and other mission critical projects. As of 31 December 2024, the total funds held by the group were £14.517.242. of which £31,795 was represented by restricted funds. £3,689,997 by designated funds and general unrestricted funds of £10,795,450. Of this, £101,097 of the general unrestricted funds belong to the trading subsidiary. Free ReseNes at the end of the year were £6,301.487. which is in excess of the target policy level., however, we were temporarily accumulating funds in anticipation of additional known maintenance costs for the aircraft. Free reseNes are calculated as - unrestricted reseNes less designated reserves and inaccessible funds as they are mission critical assets. Plans for 2025 During December 2024 the Trustees and Executive Management Team held their annual strategy day where a new strategic plan was agreed. From this three-year strategy we aim to deliver the following key objectives in 2025. Clinical Excellence We will provide exceptional care for patients by continuously updating our clinical skills, investing in high-quality equipment and technology, and undertaking research and education in pre-hospital emergency medicine. We will also maintain positive relationships with the ambulance se￿1￿, hospitals and other external stakeholders. Aviation Resilience The Charity recognises the Bell 429 as an ex￿lIent Choi￿ for helicopter emergency medical response, but the limited size of the UK fleet poses challenges. When grounded for maintenance, overseas-dependent technical support and parts supply can cause significant delays. so we will ensure that resilien￿ is maintained through better maintenance provision and holding a stock of parts. Environmental and Sustainability Our sustainability goals have been mapped out to 2030. In 2025, we will- Continue to reduce carbon emissions by up to 40 tonnes per annum, whilst continuing to review how we manage waste. Aim to train 100 /0 of the workforce in Carbon Literacy. Begin to seek out suppliers who are also committed to reducing carbon. Finance and Infrastructure During 2025, we will continue to explore the opportunities afforded by Artificial Intelligence (Al) to further positively impact the way we plan and manage our prO￿sSes. whilst being realistic about its limitations and constraints. Page 8 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Fundraising and Supporter Engagement Our operating costs may well exceed £6m per annum during this strategic period and so we will ensure we have the staff and resources to meet that requirement. Patient Aftercare and Visitor Experience During this strategic period. we will develop our Aftercare Servi￿ to provide tailored support that meets the needs of patients and their loved ones following an incident attended by Wiltshire and Bath Air Ambulance Charity. Education Since 2019 our Emergency Awareness Training has already given over 45,000 children and young people across Wiltshire and Bath the knowledge. confidence and skills to act in an emergency, and during 2025 we will recruit a second professional trainer to build resilience into this sep11￿. Succession Planning We are mindful of the need to have robust succession plans in place for Trustees and the wider team throughout the Charity. As such, we will be proactive in preparing for future planned requirements and adaptive to unforeseen changes. Additionally, we will continue to invest in the training and development of all staff so that career progression exists within the Charity at every level. Principal Risk and Uncertainties facing the Charity The Trustees have in place a formal risk management process to assess Strategic and Operational Risks and implement risk management strategies. This involves identifying the types of risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks. The Executive Management Team keeps all risks under review. focusing on risk areas in each EMT meeting. Every board member has an overseeing responsibility for allocated areas of risk and any changes to the risk profile as recommended by the EMT are notified to the risk holder and wider board for comment and amendment. The Risk Register is an agenda item at every board meeting. The Charity has clear internal prO￿dureS for preventing fraud and theft and protecting the Charity and the public and it has a policy of zero tolerance of the same. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document Wiltshire Air Ambulance Charitable Trust (now Wiltshire and Bath Air Ambulance Charity) was formed in 2011 in order to raise and receive funds to provide an emergency response ambulance helicopter service primarily in the county of Wiltshire. It is governed by its Memorandum and A￿'cleS of Association dated 11 October 2011. These were revised in June 2015 and also in December 2019 and once again in October 2024 when the Charity changed its name. Appointment of Trustees The Board is aware of the need for a broad mix of skills and experience. It has in the past undertaken a skills audit to ascertain criteria for the recruitment of Trustees. In accordance with the Charity's Scheme of Delegation. either the Chairman. a Se￿Ing Trustee or the CEO can nominate Trustees, whose subsequent appointment must be approved by the Board. Trustees are appointed by the Board having first met with the Chair and Chief Executive. circulated a personal statement in support of their nomination and attended a board meeting as an observer. Page 9 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Trustee Induction and Training An induction process has been developed, and formal g0Veman￿ training is provided from time to time. Essential legal papers. policy documents, budgets and the up-to4ate risk register are sent to new Trustees on appointment together with any other relevant information. New Trustees have an orientation briefing including a visit to the airbase. During the induction, they also meet key employees and. where possible, key volunteers. Trustees are encouraged to attend appropriate external training events to facilitate the undertaking of their role. Structure of the Organisation The Board usually meets five times a year and additional specific board meetings are convened as needed. Term of Office Trustees are appointed for an initial tenn of one year and may be re-appointed for a further four consecutive terms,. the first of those terms to be for I￿0 years. the second. third and fourth of those terms to be for three years thus giving greater continuity. Currently, no person may hold office as a Director of the Charity for a combined term of more than ￿e1ve years. Roles and Responsibilities Trustees, roles and responsibilities are cleady defined within a Scheme of Delegation. A chief executive is appointed by the Trustees to manage the day-to4ay operations of the Charity. To facilitate efficient management of the organisation, the chief executive has delegated authority, within limits set by the Trustees, for matters including finance, fundraising, public relations and marketing and employment. The parameters of the chief executive's authority are clearly def ned within the Scheme of Delegation referred to above. The Charity has enshrined, within its Memorandum and Articles, clear rules with regards to the Trustee's interaction and involvement with staff. The Charity employs professional stsff for managing the Charity and fundraising. The staff are accountable to the chief executive who is accountable to the Trustees. Everyone within the Charity understands that ultimate accountability is to the people, businesses and community groups of Wiltshire, Bath and the surrounding area who make the Charity's activities and achievements possible through their ongoing support. Arrangements for setting the pay and remuneration of key management personnel The rate of pay of the chief executive is set by the chairman. The Board also reviews on an annual basis an organisation-wide annual per￿ntage increment and increases pay if appropriate and affordable. The chief executive, under delegated powers through a Scheme of Delegation, sets the pay and conditions of members of the Executive Management Team within the boundaries of the annual pay budget as agreed by the Board each year. Related Parties The helicopter is part of an integrated response to medical sickness and emergencies provided by the South Western Ambulance Se￿1￿ NHS Foundation Trust ISWAST). SWAST deploys the helicopter from an Emergency Control Centre and also funds some of the paramedics who se￿e on the helicopter. The helicopter is located at Wiltshire and Bath Air Ambulan￿ Charity's airbase in Semington. The associated aviation management is undertaken by the director of aviation and supported by the chief pilot, with third-party organisations providing maintenance and continuing airworthiness services. Page 10 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Infomiation on fundraising practices The Charity follows the Fundraising Regulatof s Code of Practice and complies with the key principles embodied in the Code. As such, we are committed to high standards. We strive to be honest, open, transparent, respectful, fair, reasonable and accountable as more fully explained below. We do all we can to ensure that fundraisers. volunteers and fundraising contractors working with us to raise funds comply with the Code. We comply with the law including those that apply to data protection. health and safety and the environment. We tell the truth and do not exaggerate. We do what we say we are going to do. We answer all reasonable questions about our fundraising activities and costs. We are clear about who we are, what we do and how your gift is used. When we have a promotional agreement with a commercial company, we make clear how much of the purchase price we receive. We give a clear explanation of how people can make a gift and amend a regular commitment. We respect the rights, dignity and privacy of our supporters and beneficiaries. We will not put undue pressure on anyone to make a gift and if they do not want to give or wish to cease giving, we will respect their decision. If people tell us that they don't want us to contact them in a particular way, we will not do so. We take care not to use any images or words that cause unjustifiable distress or offence. We take care not to cause unreasonable nuisance or disruption. If someone is unhappy with anything we have done whilst fundraising, they can contact us to make a complaint. We have a complaints procedure. a copy of which is available on request. If we cannot resolve a complaint. we accept the authority of the Fundraising Regulator to make a final adjudication. Tower Lottery Partnership Administration of our lottery (including canvassing) is managed on the Charity's behalf by Tower Lottery Partnership (Tower), an experienced Gambling Commission accredited External Lottery Manager specialising in air ambulance lotteries. Whilst neither Wiltshire and Bath Air Ambulan￿ Charity nor Tower discriminates on the basis of age or disability, the ethos and policies of both organisations is reflected in the extensive social responsibility training and dementia awareness guidance that has taken place over the past few years. The canvassers are expected to adhere to a very clear Code of Conduct. Tower has an extensive training programme. and issues canvasser guidelines, which include the following., Not allowing canvassers to enter people's homes. Not knocking on doors with no cold-calling stickers. Leaving the property if somebody does not wish to discuss the issue further. In the case of store bookings, ensuring that On￿ a person has moved away from the canvasser, that the canvasser does not attempt to continue the conversation. In no circumstances should a canvasser attempt to make a person feel guilty by suggesting that the Charity will suffer harm without the individual's support. Canvassers always state that the potential supporter should only spend what they can afford. Tower also conducts feedback calls to ensure that these standards are being maintained. Wiltshire and Bath Air Ambulance Charity is registered with the Gambling Commission and is a member of the Lotteries Council. Some key staff involved in fundraising are also members of The Chartered Institute of Fundraising. Page11 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 COMPLAINTS During the year under review the Charity had no cause to monitor the fundraising activities of any of its staff or volunteers. The Charity receives regular feedback and enquiries. most often via social media, email and telephone. The Charity defines a complaint as any expression of dissats-sfaction. whether justified or not, that has not or cannot be resolved informally to the mutual satisfaction of the person raising the issue and the Charity. In practice, any negative feedback is logged as a potential complaint and referred to the appropriate manager to investigate. If the matter cannot be resolved at this point it is escalated to the complaints officer. During the period covered by this report there were 15 potential complaints recorded. Of these, four were escalated to formal complaints. These included. 1 Miscommunication with a supporter 1- Clinical (referred to SWAST) 1 Fundraising event planned by the Charity 1- Dissatisfaction that the Charity accepted funds from a particular group We are pleased to say that all complaints were dealt with and resolved with no further action. ststement of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming reSoUr￿S and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 102)., make judgements and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 12 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Disclosure of information to auditor Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditor is unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that information. Auditor The auditor, Crowe U.K. LLP. has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. 29, 2025. 2."03pml (Chairman) Date: 29 Sep 2025 Page 13 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILTSHIRE AND BATH AIR AMBULANCE CHARITY Opinion We have audited the financial ststements of Wiltshire and Bath Air Ambulance Charity (the 'parent charitable company,) and its subsidiary {the 'group') for the year ended 31 December 2024 which comprise the Consolidated statement of financial activities. the Consolidated balan￿ sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 December 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK}} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 14 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILTSHIRE AND BATH AIR AMBULANCE CHARITY (CONTINUED) Other infonnation The other information comprises the information included in the Annual report other than the financial statements and our Auditorfs report thereon. The Trustees are responsible for the other infomation contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent othewise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othewise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees. Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misststements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and returns- or certain disclosures of Trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled to prepare the financial statements in accordan￿ with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Page 15 ## **WILTSHIRE AND BATH AIR AMBULANCE CHARITY** ## **(A company limited by guarantee)** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILTSHIRE AND BATH AIR AMBULANCE CHARITY (CONTINUED)** ## **Responsibilities of trustees** As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks within which the Charitable Company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Financial Reporting Standard 102 and Charities Statement of Recommended Practice (SORP). In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the Company for fraud. The laws and regulations we considered in this context were UK Civil Aviation Authority (CAA), Gambling Commission, General Data Protection Regulation (GDPR), Health and Safety legislation, taxation legislation and employment legislation. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within grant and legacy income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, designing and performing audit procedures over the specific income streams noted above, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. In accordance with International Auditing Standards, we planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements or accounting records including any material misstatements resulting from fraud, error or non-compliance with law or regulations. Page 16 ## **WILTSHIRE AND BATH AIR AMBULANCE CHARITY** ## **(A company limited by guarantee)** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILTSHIRE AND BATH AIR AMBULANCE CHARITY (CONTINUED)** Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our Auditor's report. ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. **Guy Bigg in - (Senior statutory auditor)** for and on behalf of **Crowe U.K. LLP** Statutory Auditor Fourth Floor St James House St James Square Cheltenham GL50 3PR Date: 29 September 2025 Page 17 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Other trading activities Investments 3,486.979 1,700,665 68.879 11,779 64.294 3,551.273 1,700,665 68,879 11,958 7,225, 121 1,584,991 103,525 22,225 Other income 179 Total income 5,268,302 64,473 5,332,775 8, 935, 862 Expenditure on: Raising funds= Costs of raising voluntary income Other trading expenses Investment management costs Charitable activities.. Helicopter operating costs Operation of Charity 798.300 180,892 27.791 798,300 180,892 27.791 761,169 138,728 22,431 3,503.517 831,556 37.139 3,540,656 831,556 3, 674,569 685,680 Total expenditure 5,342,056 37,139 5,379,195 5,282,577 Net {expenditure)lincome before net gains on investments Net gains on investments (73.754) 320,396 27.334 (46,420) 320,396 3, 653,285 243, 178 Net income Transfers between funds 246.642 46.041 27,334 (46.041) 273,976 3, 896,463 20 Net movement in funds 292.683 (18.707) 273,976 3, 896,463 Reconciliation of funds: Total funds brought fomard Net movement in funds 14,192.764 292,683 50.502 (18,707) 14,243,266 273,976 10,346,803 3, 896,463 Total funds carried forward 14,485,447 31,795 14,517,242 14,243,266 The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 24 to 53 form part of these financial statements. Page 18 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee REGISTERED NUMBER: 07805796 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Investments 13 5,166.335 4,045,241 5,517,167 3,69t,525 14 9,211.576 9, 208, 692 Current assets Stocks 15 30.781 4,575,852 2,145,410 34,313 5, 779,045 1,100, 187 Debtors 16 Cash at bank and in hand 6,752,043 6,913,545 Current liabilities Creditors.. amounts falling due within one year 17 (1,446,377) (1, 174, 804) Net current assets 5,305.666 5, 738, 741 Total assets less current liabilities 14,517,242 14,947,433 Creditors.. amounts falling due after more than one year 18 (704, 167) Total net assets 14,517.242 14,243,266 Page 19 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee REGISTERED NUMBER: 07805796 CONSOLIDATED BALANCE SHEET (CONTINUED AS AT 31 DECEMBER 2024 2024 2023 Note Charity funds Restricted funds Unrestricted funds 20 31,795 50,502 Designated funds General funds 20 3,689,997 10,795,450 3, 674,940 10,517,824 20 Total unrestricted funds 20 14,485.447 14, 192,764 Total funds 14,517,242 14,243,266 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. 29. 2025, 2.'03pml (Chair of Trustees) Date: 29 Sep 2025 The notes on pages 24 to 53 form part of these financial statements. Page 20 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee REGISTERED NUMBER: 07805796 CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Investments 13 5,161.999 4,050,241 5,512,323 3, 696,525 14 9,212.240 9, 208, 848 Current assets Stocks 15 19.690 4,565,005 2,047,211 18,368 5, 768,863 1,012,608 Debtors 16 Cash at bank and in hand 6,631.906 6, 799, 839 Current liabilities Creditors.. amounts falling due within one year 17 (1,428,001) (1, 163,400) Net current assets 5,203.905 5, 636,439 Total assets less current liabilities 14,416,145 14,845,287 Creditors.. amounts falling due after more than one year 18 (704, 167) Total net assets 14,416.145 14, 141,120 Page 21 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee REGISTERED NUMBER: 07805796 CHARITY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 2024 2023 Note Charity funds Restricted funds Unrestricted funds 20 31,795 50,502 Designated funds General funds 20 3,689,997 10,694,353 3, 674,940 10,415,678 20 Total unrestricted funds 20 14,384.350 14,090,618 Total funds 14,416,145 14, 141,120 The Charity's net movement in funds for the year was £275,025 (2023- £3,853,559). The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Sep 29, 2025, 2".03pml (Chair of Trustees) Date: 29 Sep 2025 The notes on pages 24 to 53 form part of these financial statements. Page 22 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flows from operating activities Net cash provided by l {used in) operating activities 23 1.568.508 (8,071) Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets PrO￿edS from sale of investments Purchase of investments 68.879 23,614 (155.792) (166,639J 1,920,188 2, 867,923 12.181.829) (3,274,312J 228,321 517,000 103,525 Cash movement on investments Net cash {used in)Iprovided by investing activities (96.619) 47.497 Cash flows from financing activities Repayments of finan￿ leases (416.666) (416,666J Net cash used in financing activities 1416,6661 {416,666) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 1.045.223 {377.240) 1.100.187 1,477,427 Cash and cash equivalents at the end of the year 24 2,145,410 I, tOO,187 The notes on pages 24 to 53 form part of these financial statements Page 23 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General information Wiltshire and Bath Air Ambulance Charity is a charitable company established in England and Wales. The address of the registered office and nature of the Charity's operations is given in the report of the Trustees. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) 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 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Wiltshire and Bath Air Ambulan￿ Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements. 2.2 Going concern The are no significant uncertainties about the group's ability to continue as a going concern. Page 24 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the Charity has control over the item. Fair value is determined on the basis of the value of the gift to the Charity. For example, the amount the Charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised as expenditure. No amount is included in the financial statements for volunteer time in line with the Charity SORP (FRS 102). For legacies, entitlement is the earlier of the Charity being notified of the impending distribution or the legacy being received. At this point income is recognised. On occasion, legacies will be notified to the Charity however, it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset. Income from trading activities includes income eamed from fundraising events and trading activities, including a lottery. to raise funds for the Charity. Income is received in exchange for supplying goods and seNices in order to raise funds and is recognised when entitlement has occurred. Lottery income is received net of any prizes and fees attributable to the running of the lottery. The Charity re￿iVed govemment and other grants. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be re￿iVed and the amount can be recognised reliably. If entitlement is not met then these amounts are deferred. Investment income is earned from holding assets for investment purposes such as shares and propety. It includes dividend and interest income. Page 25 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Costs of raising funds include the costs of attracting donations and legacies as well as the costs of trading for fund raising acts'vities and the cost of commercial trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. Helicopter operating costs are those costs which relate directly to the aircraft, which include but is not limited to the standing charge. flying hours. fuel, paramedics and medical equipment, as well as running costs of the operations centre. Where applicable, irrecoverable VAT is charged as an expense against the activities for which the expenditure arose. VAT notice 1001 allows the Charity to reclaim VAT on all non-business activities. 2.5 Interest receivable Interest on funds held on deposit is induded when re￿1vable and the amount can be measured reliably by the Charity,. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 26 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £5.000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tsngible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of tangible fixed assets less their residual value over their ests-mated useful lives. Depreciation is provided on the following bases- Buildings Buildings- fixtures & fittings Helicopter Helicopter and airfield equipment Aviation equipment Other Fixtures & fittings Medical equipment Motor vehicles 4 % straight line 15°/o Straight line 10°/o Straight line 10°/o Straight line 10°/o Straight line 33°/o Straight line 33°/o Straight line 25°/0 reducing balance 2.7 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Lossesl on investments, in the Consolidated statement of financial activities. Investments in subsidiaries are valued at cost less provision for impairment. 2.8 Stocks Stocks are stated at the lower of cost and estimated selling pri￿ less costs to complete and sell. Costs include all costs of purchase. costs of conversion and other costs incurred in bringing stock to its present location and condition. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 27 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.11 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balan￿ sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be ests"mated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or ServI￿S it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost. 2.12 Financial instruments The Group only has f nancial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.13 Finance leases and hire purchase Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors. net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated statement of financial activities so as to produce a constsnt periodic rate of charge on the net obligation outstanding in each period. 2.14 Pensions The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. An auto enrolment scheme is also in place with Royal London which is a salary sacrifice scheme. Page 28 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.15 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Critical accounting estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions- The Charity makes estimates and assumptions conceming the future. The resulting accounting estimates and assumptions will, by definition. seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Residual value of Helicopter- Due to the variability of the second hand aircraft market, the limited number of transactions and the timescales involves with potential sales. it is difficult to accurately estimate the depreciation rates and residual values. The rates applied in these accounts have been arrived at by using the latest available information for the second hand aircraft market and factors noted above along with consideration of the total hours flown. This is revisited annually to ensure the data and information we are using is continually up to date. Page 29 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Donations received Community fundraising Corporate employee engagement Corporate donations Recycling Static income 803.020 401,302 70.263 41,483 390 31.909 803,020 401.302 70,263 42.507 390 31.909 737,696 462, 502 82,941 102,972 3,529 27,604 17,77T 155,813 42,188 165,505 17,866 92,261 65,851 1,024 Friends of Wiltshire Air Ambulance Grants and trust income 131.584 62,291 193.875 Grants from Central Government In Memorium 143.420 23.299 90.730 83.980 143.420 23,299 90.730 84,959 Education Programme Engagement Raffle Gift Aid 979 1,821.380 64,294 1,885,674 1,974,505 Legacies 1,665.599 1.665.599 5,250,616 3,486,979 64,294 3.551.273 7,225, 121 Total 2023 7,089, 735 135,386 7,225, 121 Donations received include £506,909 (2023 - £526,477) of contracted facilities and professional services. £485,700 (2023 - £490,375) of the total represents the value of the obligated servi￿$ provided under an SLA from the South Western Ambulan￿ servi￿ NHS Foundation (SWAST) to the operation of the charity- Page 30 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Other trading activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Lottery Fundraising events Rental income 1,263,510 176,053 23,485 14,425 223,192 1.263.510 176,053 23.485 14,425 223.192 1,274,519 92,177 9,266 3,450 205,579 Sundry income Income from trading subsidiary 1,700,665 1.700.665 1,584,991 Total 2023 1,584,991 1,584,991 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income from investment portfolio Deposit account interest Other interest 54,547 14,248 84 54,547 14,248 84 72,359 31,055 111 68,879 68,879 103,525 Total 2023 103, 525 103,525 Page 31 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Challenge Events Fundraising equipment Internal events 10,684 t.872 493 Website refresh 41,820 11,696 10T 1,614 12,541 71,789 128,168 4,980 36,072 Online donation costs 12,081 287 1,964 12,518 61,275 143,445 3,957 21,209 9,097 91,159 8,942 2,380 307,065 64,131 58,790 12.081 287 1.964 12,518 61.275 143,445 3.957 21,209 9.097 91,159 8.942 2,380 307.065 64,131 58.790 Volunteer expenses Volunteer equipment Outsourced services Raffle costs PR and marketing Legacy notifications Notional expense for gifts in kind Emergency Awareness Training Rebranding Supporter Engagement Staff related costs Staff wages and salaries Staff Nl Staff pension costs 333,414 54, 864 51,055 798,300 798.300 761, 169 Total 2023 761, 169 761, 169 Page 32 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on raising funds (continued) Other trading expenses Unrestricted funds 2024 Total funds 2024 Total funds 2023 Fundraising costs Trading subsidiary costs Trading subsidiary wages and salaries Fundraising trading expenses- Nl Fundraising trading expenses- pension costs 53,781 64,156 53,739 4,447 4,769 53.781 64,156 63.739 4,447 4.769 29,748 60,549 42,633 3,398 2,400 180,892 180.892 138, 728 Total 2023 138, 728 138, 728 Investment management costs Unrestricted funds 2024 Total funds 2024 Total funds 2023 Fund managers fees 27,791 27.791 22,431 Total 2023 22,431 22.431 Page 33 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2024 2024 Total 2024 Total 2023 Helicopter operating costs Operation of Charity 3,503,517 831.556 37,139 3.540.656 831,556 3,674,569 685,680 4,335.073 37,139 4,372,212 4, 360,249 Total 2023 4.241,831 118,418 4, 360, 249 Analysis of expenditure by activities Activities undertaken directty 2024 Support costs 2024 Total funds 2024 Total funds 2023 Helicopter operating costs Operation of Charity 3,540,656 3,540,656 831.556 3, 674,569 685,680 831,556 3,540,656 831,556 4,372,212 4, 360,249 Total 2023 3, 674, 569 685, 680 4, 360, 249 Page 34 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure by activities (continued Anatysis of direct costs Total funds 2024 Total funds 2023 staff costs 926.522 495,518 1.949.685 168,931 802, 843 519,810 2, 163,311 7 88,605 Depreciation Bell 429 helicopter Operation centre costs 3,540,656 3, 674,569 Page 35 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure by activities (continued Anatysis of support costs Total funds 2024 Total funds 2023 staff costs 341.793 304 30.443 3,462 15.147 248,944 3.689 38 1.192 2,345 7.225 2,498 9.033 4,324 3.866 18,377 2.841 978 894 249,672 405 Depreciation Salary Sacrifi￿ expenses Salary benefits Staff training and development Outsourced services Travelling and Accommodation Subsistence Printing Photocopier costs Postsge and Carriage Office Stationery Website 13,914 226, 690 4,010 62 1,247 1,702 5,022 1,146 1,608 2,04T 2, 695 20,918 2,042 861 2,610 1,956 2,241 37,524 1,649 411 49,270 7, 849 60 Tributes Mileage Claims (Profit}Iloss on currency exchange Insurance Workwear and uniforms Motor expenses Bank charges PDQ Merchant Charges Subscriptions Security Costs Office Equipment HR Support Health and wellbeing UK entertaining Xero Payment Fees Governan￿ costs (breakdown below) 2,841 2.430 38,650 1.910 54.707 9,899 210 92 60.178 48,069 831.556 685, 680 Page 36 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Governance costs 2024 2023 Auditor's remuneration Governan 22,530 16.738 10,910 10,270 16,213 9,686 11,900 Legal fees Consultancy fees 50,178 48,069 10. Auditorfs remuneration 2024 2023 Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 16,580 9,370 Fees payable to the Charity's auditor in respect ot. All non-audit services not included above 3,500 900 11. Stsff costs Group Group As restated 2024 2023 Charity Charity As restated 2024 2023 Wages and salaries Social security costs Pensions costs 1,442.499 158,280 160.477 1,275, 169 121,729 143,381 1.388.760 153,833 165.708 1, 232,536 118,331 140,981 1,761,256 1,540,279 1,698,301 1,49t,848 The average number of persons employed by the Charity during the year was as follows: Group 2024 No. Group 2023 No. Charity 2024 No. Charity 2023 No. Employees 37 28 35 26 Page 37 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Staff costs (continued) The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2024 Group 2023 In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 In the band £90.001- £100.000 Key Management Personnel The key management personnel of the parent Charity comprises the Trustees, the Chief Executive, Deputy Chief Executive and Director of Aviation and Finance and Infrastructure. The total remuneration paid to key management personnel for services provided to the Charity was £317,862 (2023- £298, 725). The Chief Executive Officer. Director of Aviation and the Director of Finance and Infrastructure invoice for services provided. The key management personnel of the group comprises those of the Charity and the directors of its wholly owned subsidiary. The total remuneration paid to key management personnel for services provided to the group was £317.862 (2023- £298. 725). 12. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024. expenses totalling £109 were reimbursed or paid directly to 1 Trustee (2023 - £NIL) for travel. Page 38 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Tangible fixed assets Group Fixtures, fittings and equipment Freehold property Motor vehicles Helicopter Total Cost or valuation At 1 January 2024 Additions 3,844,682 50,350 4,981,132 848,706 53.467 (35,733) 126,219 51,975 {40,671) 9,800,739 155.792 (76,404) Disposals At 31 December 2024 3,895,032 4.981.132 866.440 137,523 9.880.127 Depreciation At 1 January 2024 Charge for the year On disposals 873,720 142,777 2,612,119 276,783 727,246 56.970 (33,859) 70,487 20,721 {33,172) 4,283,572 497.251 (67,031) At 31 December 2024 1,016,497 2.888,902 750.357 58,036 4.713.792 Net book value At 31 December 2024 2,878,535 2,092,230 116,083 79,487 5,166,335 At 31 December 2023 2,970, 962 2,369.013 121,460 55, 732 5,517,16T Included within Freehold property is Land at cost of £275,268 (2023 - £275, 268) which is not depreciated. The net book value of the assets held under hire purchase contracts is £2,092,230 (2023- £2,369,013). Page 39 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Tangible fixed assets (continued) Charity Freehold property Fixtures and fittings Motor vehicles Helicopter Total Cost or valuation At 1 January 2024 Additions 3,844,682 50,350 4,981,132 831,948 50.959 (30,942) 126,219 51,975 {40,671) 9,783,981 153,284 (71,613) Disposals At 31 December 2024 3,895,032 4.981.132 851.965 137,523 9.865.652 Depreciation At 1 January 2024 Charge for the year On disposals 873,720 142,777 2,612,119 276.783 715,332 54.961 (30,075) 70,487 20,721 {33,172) 4,271,658 495.242 (63,247) At 31 December 2024 1,016,497 2.888,902 740.218 58,036 4.703.653 Net book value At 31 December 2024 2,878,535 2,092,230 111,747 79,487 5,161,999 At 31 December 2023 2,970, 962 2,369.013 116,616 55, 732 5,512,323 Included within Freehold property is Land at cost of £275,268 {2023- £275,268) which is not depreciated. The net book value of the assets held under hire purchase contracts is £2,092,230 (2023- £2,369,013). Page 40 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Fixed asset investments Listed investments Group Cost or valuation At 1 January 2024 Additions 3,691,525 2.181,829 11,920,188 320,396 {228,321) Disposals Revaluations Cash movement At 31 December 2024 4.045,241 Net book value At 31 December 2024 4,045,241 At 31 De￿rnber 2023 3,691,525 Investments in subsidiary Listed companies investments Total Charity Cost or valuation At 1 January 2024 Additions 5,000 3,691,525 3,696,525 2,181,829 2.181,829 (1,920,188) 11,920,188 320,396 320,396 (228,321) {228,321) Disposals Revaluations Cash movement At 31 December 2024 5.000 4,045,241 4.050,241 Net book value At 31 December 2024 5,000 4,045,241 4,050,241 At 31 De￿rnber 2023 5, 000 3,691,525 3, 696, 525 Page 41 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Bonds 1.006.546 2,294,319 503.994 169,864 70.518 735,904 1, 806,655 570,469 t4t,724 436, 773 Equities Alternative investments Commodities Cash 4,045,241 3,691,525 The fair value of these investments is detemined by referen￿ to the quoted pri￿ for identical assets in an active market at the balance sheet date. Principal subsidiaries The following was a subsidiary undertaking of the Charity.. Name Company number Registered office or principal Class of place of business shares Holding Your Air Ambulan￿ Ltd 08930308 Operations Centre, Outmarsh, Semington, Wiltshire, England, BA14 6JX Ordinary The financial results of the subsidiary for the year were.. Income Expenditure ProfiU(Loss) I Surplusl (Deficit) for the year Net assets Your Air Ambulan￿ Ltd 223.192 {224,2411 96,081 106,097 The subsidiary is used for non-primary trading activities. The subsidiary gift aided profits of £97,130 (2023- £56,695) to the Charity during the year. At the year end Your Air Ambulance Ltd owed £15,890 (2023- £17,556) to the Charity. Page 42 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Stocks Group 2024 Group 2023 Charity 2024 Charity 2023 Goods purchased for resale Aviation fuel 11,091 19.690 15,945 18,368 19.690 18,368 30,781 34,313 19,690 18,368 16. Debtors Group 2024 Group 2023 Charity 2024 Charity 2023 Due after more than one year Prepayments and accrued income 487, 753 487,753 487, 753 487,753 Due within one year Trade debtors 138.574 15,457 128,464 15,890 18,467 94,933 4,307,251 2,261 17,556 8,968 57,017 5, 795,308 Amounts owed by group undertakings Other debtors 23,092 94.933 4,319.253 13,593 57,017 5,205, 225 VAT Prepayments and accrued income 4,575,852 5, 779, 045 4,565,005 5, 768, 863 Included within prepayments is an amount of £749.962 which relates to the Engine Service Plan for the aircraft. This amount is being held as a fund in expectation of the engine overhaul at 4,000 hours and will continue to accumulate until this time when it will be transferred into fixed assets and depreciated over the life of the engines. Page 43 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Creditors: Amounts falling due within one year Group 2024 Group 2023 Charity 2024 Charity 2023 Obligations under finan￿ lease and hire purchase contracts Trade creditors other taxation and social security Other creditors Accruals and deferred income 704.167 347,699 52.379 100 342.032 416,666 446, 646 39, 632 704.167 346,782 45.569 416,666 445, 722 33, 147 271,860 331.483 267,865 1,446,377 1,174,804 1,428,001 1, 163,400 Included in accruals and deferred income is deferred income of £27,005 (2023- £42,660). 18. Creditors: Amounts falling due after more than one year Group 2024 Group 2023 Charity 2024 Charity 2023 Net obligations under finance lease and hire purchase contracts 704, 167 704, 167 19. Obligation under finance leases and hire purchase contracts Group and Charity 2024 2023 Net obligations repayable: Within one year Be￿een one and five years 704.167 416,666 704,167 704.167 1, 120, 833 Page 44 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Statement of funds ststement of funds - current year Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Bell 429 - Balloon payment Replacement aircraft and other mission critical projects Airbase- Sinking fund- Capital Renewals Programming Emergency awareness training Blood transfusions Laryngoscopes 600,000 600,000 3.000,000 3.000.000 68,940 16,500 85,440 1,000 2,000 (3.000) 5,000 5,000 12.051 16,033) (2.964) 3,967 590 (8.497) 3.674,940 19.051 (11.997) 8.003 3.689.997 General funds General Funds Funds of the subsidiary 10,415,678 5,026,059 (5,105,818) 38,038 320,396 10,694,353 102,146 223.192 1224.241) 101,097 10.517,824 5.249,251 (5,330.059) 38.038 320,396 10,795,450 Total Unrestricted funds 14.192,764 5.268,302 (5,342.056) 46.041 320,396 14,485,447 Page 45 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Statement of funds {continued) Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Restricted funds Research project Night vision goggles Paramedicl doctor Salaries 999 999 9,760 (1.810) 7.950 39,354 389 33,473 31,000 {35,329) (15,041) (31.000) 22,457 389 Critical Care Car 50,502 64A73 {37.139) (46.041) 31.795 Total of funds 14,243,266 5,332,775 (5,379,195) 320,396 14,517,242 Page 46 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Statement of funds {continued) ststement of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Transfers in/out Gains/ (Losses) Income Expenditure Unrestricted funds Designated funds Bell 429 - Balloon payment Replacement aircraft and other mission critical projects Flying kit & equipment Paramedic training and equipment Airbase- Sinking fund- Capital Renewals Programming 24 in 24 Lyoplas Emergency awareness training Blood transfusions 600,000 600,000 1,000,000 2, 000, 000 3, 000,000 1,101 (1, 101) 1,817 (1,817) 50,940 4,592 18,000 68,940 (4, 592) 1.000 1.000 10,000 (5, 000) 5,000 1,658,450 11,000 (9, 592) 2,015,082 3, 674,940 General funds General Funds Funds of the subsidiary 8,489,399 8,583, 897 (4,991, 892) (1, 908, 904) 243, 178 10,415,678 59,242 205, 579 (162, 675) 102, 146 8.548,641 8. 789,476 (5, 154, 567) (1, 908, 904) 243, 178 10,517,824 Page 47 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Statement of funds {continued) ststement of funds - prior year (continued) Balance at 31 December 2023 Balance at 1 January 2023 Transfers in/out Gains/ (Losses) Income Expenditure Total Unrestricted funds 10,207,091 8, 800,476 (5, 164, 159) 106, 178 243, 178 14, 192, 764 Restricted funds Research project Video Laryngoscope Night vision goggles Paramedicl doctor Salaries Critical Care Car 999 999 2,421 (2, 421) 43, 924 (1, 652) (32,512) 9, 760 28, 888 63,076 404 70. 064 (59. 598) 39,354 389 (62, 687) (404) (8, 154) Capnograph Luca machine 8, 534 42.188 (380) (42. 188) Pins Approach Emergency Awareness Training 14,600 (14, 600) 139, 712 135,386 (118,418) (106, 178) 50,502 Total of funds 10,346, 803 8,935. 862 (5,282, 577) 243, 178 14,243,266 Page 48 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Statement of funds {continued) Restricted Funds Research Projects - a balance of £999 remains to be spent in anticipation of any future research projects. Paramedic & Doctor salaries this amount was re￿iVed from a foundation following a specific ask from our grant and trusts co-ordinator, it was to be spent directly on paramedic salaries. Video Laryngoscope- this fund is being used to build up a pot to buy another video laryngoscope. Night vision goggles - In order the helicopter can fly at night the pilot and the technical crew member are required to wear Night Vision Goggles. The Big Give was used to raise the money to pay for a newer version. Critical care Car - It had been identified there was a requirement for a critical care car to run alongside the cars already owned. the money was raised from a single grant making Charity. Emergency Awareness Training these funds were given to the Charity to fund the provision of the education of children in schools, to give them the skills to help save a life. £3,500 of which was received from the David Family Foundation. Pins Approach these funds have been set aside for a project which is being part funded by the Civil Aviation Authority. This is to provide a dedicated approach to the airbase and increase aviation safety when flying on instruments. Lucas Machine this is a mechanical chest compression devi￿ that helps our paramedics deliver high quality and consistent chest compressions to sudden cardiac arrest patients. The equipment was requested by the operational team and an amount designated from a trust to make the purchase. Designated Funds Bell 429 - Balloon payment- in 2025 the HP agreement on the Bell 429 will end and the balloon payment will become due. this amount has been set aside to fund the payment. Replacement aircraft and other mission critical projects funds set aside to finance the purchase of an additional aircraft and other mission critical projects. 24 in 24 Lyoplas - Lyoplas is a freeze4ried plasma which is reconstituted with sterile water to provide the patient with additional support to enable their body to maintain blood clots and stem bleeding. This new product takes away some of the logistical challenges associated with carrying blood. The crew of pilots and paramedics took on their own challenge of running 24 miles in 24 hours which was supported by the public. Flying Kit and Equipment - both our paramedics and pilots have various requirements for uniform, PPE and flying helmets. This was an extremely popular fund for donors as they were able to know they would be buying items being used directly by our crew. Paramedic training & equipment- our paramedics have various requirements for uniform, PPE and flying helmets. Airbase - Sinking fund - a designated fund to pay for future capitsl renewals for the Airbase and the grounds to prepare for planned future expenditure Page 49 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Statement of funds {continued) Emergency awareness training a foundation agreed to fund the salaries of our emergency awareness training. Blood Project - this was for the second delivery of Lyoplas plus any item which is associated with giving blood to patients, such as a blood wamier or the blood itself. Laryngoscopes - there was a need to replace our existing laryngoscopes, this designated fund from several trusts allowed the charity to do this. Transfers Where the fund is restricted and equipment or assets are purchased, the amount is transferred from restricted to general as the restriction is deemed to be satisfied. Where other amounts have been transferred from the general funds into designated. this is to ensure funds are set aside for a specific future purpose which has been agreed. 21. Summary of funds Summary of funds - current year Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds 3,674,940 10.517,824 50,502 19,051 5,249,251 64,473 {11,997) (5,330.059) {37,139) 8,003 38.038 (46,041) 3,689,997 320.396 10.795.450 31,795 Restricted funds 14,243,266 5,332,775 (5,379,195) 320,396 14,517,242 Summary of funds - prior year Balance at 31 December 2023 Balan￿ at 1 January 2023 Transfers in/out Gainsl (Losses) Income Expenditure Designated funds General funds Restricted funds 1.658,450 8,548,641 139, 712 11,000 (9, 592) 2,015,082 8, 789,476 (5, 154, 567) (1, 908, 904) 135,386 (118,418) (106, 178) 3, 674,940 243, 178 10,517,824 50,502 10,346,803 8, 935, 862 (5,282, 577) 243, 178 14,243,266 Page 50 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. Anatysis of net assets between funds Anatysis of net assets between funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments 5,166,335 4,045,241 6,720,248 (1,446,377) 5,166,335 4.045,241 6,752,043 11.446.377) Current assets Creditors due within one year 31,795 Total 14,485,447 31,795 14.517,242 Anatysis of net assets between funds - prior period Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments 5,517, 167 3,691,525 487, 753 6,375,290 (1, 174, 804) (704, 167) 5,517,167 3,691,525 487,753 6, 425, 792 (1, 174, 804) (704, 167) Debtors due after more than one year Current assets Creditors due within one year Creditors due in more than one year 50,502 Total 14, 192, 764 50,502 14,243,266 Page 51 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. Reconciliation of net movement in funds to net cash flow from operating activities Group 2024 Group 2023 Net income for the period (as per Statement of Financial Activities) 273,976 3, 896,463 Adjustments for: Depreciation charges Gains on investments 497.251 522, 096 1320,3961 (243, 178) (68.879) (103,525) (14,241 3.532 7,696 1,203,193 (4,067, 755) (15.928) (19,868) Dividends, interests and rents from investments Profit on the sale of fixed assets Decrease in stocks Decreasel(increase) in debtors Decrease in creditors Net cash provided byl(used in) operating activities 1,558,508 (8,071) 24. Analysis of cash and cash equivalents Group 2024 Group 2023 Cash in hand 2,145,410 1, 100,187 25. Anatysis of changes in net debt At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand Finance leases 1,100,187 11,120.833) 1,045,223 416.666 2,145,410 {704.167) (20.646) 1.461.889 1.441.243 Page 52 WILTSHIRE AND BATH AIR AMBULANCE CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 26. Contingent assets A number of legacies have been notified to the Charity by year end estimated to be £100,240. However there is a high degree of uncertainty over the timing if these and accordingly they do not meet the requirements to be recognised as income in these financial statements. 27. Pension commitments The Charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £155,708 (2023- £140,981). There were no contributions repayable to the fund at the reporting date (2023 - £Nil). 28. Operating lease commitments At 31 December 2024 the Group had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. Group 2024 Group 2023 Not later than 1 year 20,225 17,416 The following lease payments have been recognised as an expense in the Statement of financial activities.. Group 2024 Group 2023 Operating lease rentals 17,416 19,000 Page 53