**Charity registration number 1148093 (England and Wales)**
**Charity registration number SC046266 (Scotland) Company registration number 07952908 (England and Wales)**
## **WINGS FOR WARRIORS LTD**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **WINGS FOR WARRIORS LTD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Directors**|M J Radcliffe||
|---|---|---|
||S J C Gruber||
||S D Monteith||
||J D Barbour||
||T M Smethers|(Appointed 10 September|
|||2024)|
|**Charity number (England and Wales)**|1148093||
|**Charity number (Scotland)**|SC046266||
|**Company number**|07952908||
|**Registered office**|First Floor||
||50 High Street||
||Cosham||
||Portsmouth||
||United Kingdom||
||PO6 3AG||
|**Independent examiner**|Paul Hutchison ACA||
||Azets Audit Services||
||Chartered Accountants||
||Quay 2||
||139 Fountainbridge||
||Edinburgh||
||EH3 9QG||
## **WINGS FOR WARRIORS LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 13|
## **WINGS FOR WARRIORS LTD**
## **DIRECTORS' REPORT (INCLUDING TRUSTEES' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The directors present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The charity's objectives remain unchanged: to assist wounded service personnel and veterans by advancing any lawful charitable purpose at the discretion of the directors and in particular but not exclusively to facilitate training opportunities to achieve sustainable careers.
Wings for Warriors is a unique charity and we believe that wounded, injured and sick servicemen and women deserve the best opportunities even after their military service has ended. By working with military rehabilitation units, other charities, businesses and the public, our aim is to inspire our wounded warriors to move past injury and achieve new, bright and sustainable futures.
In order to move past a life changing injury or illness it is imperative that our veterans continue to work for themselves and not be ’spoon-fed’ or simply offered short term projects or challenges. This is why we encourage and indeed facilitate our beneficiaries to become involved in commercial aviation as a way of moving forward emotionally, attaining a sustainable income for the future and being better able to look after their families.
The Charity's aims during the year under review were to:
- continue to improve the quality of support delivered to those wounded, injured and sick individuals who are assisted by the charity; primarily our beneficiaries are no placed at Skyborne Aviation Acadmey in Gloucestershire.
- to maintain our concentration on fixed wing training, there being more, better and long-term career opportunities in this field;
- to diversify into the placemnt of wounded, injured and sick veterans into airline cadet schemes as well as our own programme.
The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
## **WINGS FOR WARRIORS LTD**
## **DIRECTORS' REPORT (INCLUDING TRUSTEES' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Achievements and performance**
The period 1st April 2023 - 31st March 2024 saw the completion of several training commitments carried over from previous years.
LCpl Louis Farrell and Sapper Sam Taylor completed their airline pilot training with us after a record delay due to COVID.
The charity re-located to Gloucester Airport in-order-to uptake a generous support offer from a major flight-training provider, however when their own economic circumstances changed - it required us to find new solutions to meet our commitments.
This included engaging training services from a more expensive training provider in-order-to complete our commitment to Mne James Taylor and meet the commencement date for his new airline job.
Thankfully we were able to do so without restriction, with all three of these individuals now successfully working as airline pilots.
During this period we were also invited by TUI to recruit and recommend up to four wounded, injured and sick veterans for inclusion in their own cadet program, which offers successful applicants access to flight training and employment in return for future salary sacrifices.
TUI accepted all four of our proposed candidates who began training with the airline in April.
Thanks to the generosity of an anonymous donor we were also able to offer accommodation for our beneficiaries whilst engaged in flight training programs. This came in the form of 'Manor Farm', a residential property set in a rural area just a stone's throw from Gloucestershire Airport.
New beneficiaries directly supported by the charity in 2023 included retired Colour Sergeant 'Mal' and former Army Captain 'Luke Sinnott'. Luke lost both legs in an explosion in Afghanistan and the charity is supporting him in his mission to become the first double amputee airline pilot since Sir Douglas Bader.
Partly for this reason, the charity was able to secure ongoing support from the Douglas Bader Foundation, who have pledged multi-year grants to help meet our aircraft maintenance needs.
Looking to our future, our move to Gloucestershire Airport in pursuit of an opportunity which did not prove sustainable will require the charity to evolve and change shape in-order-to ensure sustainability and survivability of our program.
To this end, the trustees have voted to open our own approved training organisation at the airfield and we look forward to helping more wounded, injured and sick veterans with it in future.
## **Financial review**
## _Income_
– During the year under review, Wings for Warriors received income of £177,091 (2023 £221,603) mainly from charitable Trusts and other donors.
## _Expenditure_
- During the year under review, the charity spent £267,689 (2023 £156,692), resulting in a net decrease in funds of £90,598 (2023 - net increase £64,911)
The directors have agreed that the reserves target should equate to six months running costs for the charity. The directors consider that the level of free reserves, excluding tangible fixed assets at 31 March 2024 of £72,060 (2023 - £95,534), is adequate for these purposes.
- 2 -
## **WINGS FOR WARRIORS LTD**
## **DIRECTORS' REPORT (INCLUDING TRUSTEES' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Risk management**
Risk management is the responsibility of the directors who receive regular reports at directors meetings.
The directors have responsibility for the system of internal control for the charity, incorporating procedures to aid in the prevention and detection of fraud and other irregularities.
The general manager identifies and analyses risks to activities and assesses them according to their potential impact and likelihood. The general manager is required to report these findings to the directors, together with details of the procedures in place or being developed to provide assurance that the risk is being managed.
The day to day operational decisions are delegated to the general manager.
## **Structure, governance and management**
The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The directors who served during the year and to the date of signature of this report were as follows: M J Radcliffe
S J C Gruber
S D Monteith J D Barbour T M Smethers (Appointed 10 September 2024)
New directors are appointed by the existing trustees and serve for five years after which they may put themselves forward for re-appointment.
New directors may be sought by open advertisement or through a dialogue with major grant recipients and major donors.
There is an induction programme for any newly appointed director including giving the new director a copy of the last three years' annual reports and accounts and minutes and a copy of the Scottish Charity Regulator's Guidance: Guidance for charity directors. New directors are also informed of the operations and meetings cycle of the directors and their responsibilities and duties are clarified.
The trustees' report was approved by the Board of Directors.
M J Radcliffe **Director**
12 December 2024
- 3 -
## **WINGS FOR WARRIORS LTD**
## **INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF WINGS FOR WARRIORS LTD**
I report on the financial statements of the charity for the year ended 31 March 2024, which are set out on pages 5 to 13.
## **Respective responsibilities of directors and examiner**
The charity’s directors, who also act as trustees for the charitable activities of Wings for Warriors Ltd, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the Charities Act 2011. The directors consider that the audit requirements of Regulation 10(1)(a) to (c) of the Charities Accounts (Scotland) Regulations 2006 and section 144 of the Charities Act 2011 do not apply. The charity is preparing accrued accounts and I am qualified to undertake the examination by being a qualified member of ICAEW.
It is my responsibiity to:
- examine the accounts under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and section 145 of the Charities Act 2011;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011; and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (the 2006 Accounts Regulations) and the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 44(1) (a) of the 2005 Act, Regulation 4 of the 2006 Accounts Regulations, section 130 of the Charities Act 2011 and section 386 of the Companies Act 2006; and
- (ii) to prepare financial statements which accord with the accountion records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended), the Companies Act 2006 and the requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 of the Charties Act 2011
have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Paul Hutchison ACA Azets Audit Services Chartered Accountants Quay 2 139 Fountainbridge Edinburgh EH3 9QG
Dated: .........................12 December 2024
- 4 -
## **WINGS FOR WARRIORS LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
87,415
89,676
**Total income**
87,415
89,676
**Expenditure on:**
Raising funds
**4**
11,547
12,500
Charitable activities
**5**
99,464
144,178
**Total expenditure**
111,011
156,678
**Net movement in funds**
(23,596)
(67,002)
Fund balances at 1 April 2023
96,140
100,342
**Fund balances at 31 March**
**2024**
72,544
33,340|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
177,091
64,639
156,964
177,091
64,639
156,964
24,047
20,683
15,250
243,642
68,144
52,615
267,689
88,827
67,865
(90,598)
(24,188)
89,099
196,482
120,328
11,243
105,884
96,140
100,342|**Total**
**2023**
**£**
221,603|
|---|---|---|
|||221,603|
|||35,933
120,759|
|||156,692|
|||64,911
131,571|
|||196,482|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **WINGS FOR WARRIORS LTD**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**12**
Unrestricted funds|**2024**
**£**
3,404
94,164
97,568
(7,722)|**£**
16,038
89,846
105,884
33,340
72,544
105,884|**2023**
**£**
29,665
154,727
184,392
(5,798)|**£**
17,888
178,594|
|---|---|---|---|---|
|||||196,482|
|||||100,342
96,140|
|||||196,482|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Directors on 12 December 2024
M J Radcliffe **Director**
## **Company registration number 07952908**
- 6 -
## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Wings for Warriors Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is First Floor, 50 High Street, Cosham, Portsmouth, PO6 3AG, United Kingdom.
Wings for Warriors Ltd is recognised as a charity for tax purposes by HMRC and is registered with the Office of the Scottish Charity Regulator (OSCR) under charity number SC046266 and with the Charity Commission under charity number 1148093.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Charites Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The trustees have considered a period of at least twelve months from the date on which these financial statements have been signed and having considered all information available to them, believe it appropriate to prepare the financial statements on a going concern basis. The trustees are satisfied that it has adequate resources to continue to operate for the foreseeable future.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income, including that from fundraising and commissioned activities, are recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
Income raised from fundraising activities and commissioned activities is credited in full in the period in which the event takes place. Other income is recognised as income in the period in which the amounts are received.
## **1.5 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 between 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 are allocated on the portion of the asset’s use.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent reporting accountants’ fees, and costs linked to the strategic management of the charity.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Aircraft 10% reducing balance Equipment 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **1.9 Taxation**
The company has charitable status in terms of the Corporation Tax Act 2010 and is exempt from corporation tax on its activities.
- 8 -
## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The trustees are satisfied that the accounting policies are appropriate and applied consistently. Key sources of estimation have been applied to the depreciation rates. The depreciation rates have been deemed to be appropriate for the class of asset.
## **3 Donations and legacies**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations and gifts|87,415|89,676|177,091|64,639|156,964|221,603|
- 9 -
## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **4 Raising funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Fundraising and publicity
Other fundraising costs
3,848
-
Staff costs
7,699
12,500
11,547
12,500|**Total**
Unrestricted
Restricted
funds
funds
**2024**
2023
2023
**£**
£
£
3,848
12,462
-
20,199
8,221
15,250
24,047
20,683
15,250|Total
2023
£
12,462
23,471|
|---|---|---|
|||35,933|
## **5 Charitable activities**
|**Charitable**
**activities**
**Charitable**
**activities**
**2024**
**2023**
**£**
**£**
Staff costs
20,199
23,471
Aircraft maintenance
11,405
28,386
Training
179,697
35,445
Depreciation
1,850
1,957
Insurance
4,369
4,020
IT costs
2,533
1,162
Bank charges
151
145
Student recruitment
2,658
11,485
Telephone
1,122
485
Postage
9
-
Travel, accommodation and subsistence
3,895
7,929
Donations
500
-
Student accomodation
9,366
-
237,754
114,485
Share of governance costs (see note 6)
5,888
6,274
243,642
120,759
**Analysis by fund**
Unrestricted funds
99,464
68,144
Restricted funds
144,178
52,615
243,642
120,759|**Charitable**
**activities**
**Charitable**
**activities**
**2024**
**2023**
**£**
**£**
Staff costs
20,199
23,471
Aircraft maintenance
11,405
28,386
Training
179,697
35,445
Depreciation
1,850
1,957
Insurance
4,369
4,020
IT costs
2,533
1,162
Bank charges
151
145
Student recruitment
2,658
11,485
Telephone
1,122
485
Postage
9
-
Travel, accommodation and subsistence
3,895
7,929
Donations
500
-
Student accomodation
9,366
-
237,754
114,485
Share of governance costs (see note 6)
5,888
6,274
243,642
120,759
**Analysis by fund**
Unrestricted funds
99,464
68,144
Restricted funds
144,178
52,615
243,642
120,759|**Charitable**
**activities**
**Charitable**
**activities**
**2024**
**2023**
**£**
**£**
Staff costs
20,199
23,471
Aircraft maintenance
11,405
28,386
Training
179,697
35,445
Depreciation
1,850
1,957
Insurance
4,369
4,020
IT costs
2,533
1,162
Bank charges
151
145
Student recruitment
2,658
11,485
Telephone
1,122
485
Postage
9
-
Travel, accommodation and subsistence
3,895
7,929
Donations
500
-
Student accomodation
9,366
-
237,754
114,485
Share of governance costs (see note 6)
5,888
6,274
243,642
120,759
**Analysis by fund**
Unrestricted funds
99,464
68,144
Restricted funds
144,178
52,615
243,642
120,759|
|---|---|---|
||**2024**
**£**
20,199
11,405
179,697
1,850
4,369
2,533
151
2,658
1,122
9
3,895
500
9,366
237,754
5,888
243,642
99,464
144,178
243,642|**2023**
**£**
23,471
28,386
35,445
1,957
4,020
1,162
145
11,485
485
-
7,929
-
-|
|||114,485
6,274|
|||120,759|
|||68,144
52,615|
|||120,759|
- 10 -
## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **6 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
5,888
-
5,888
Analysed between
Charitable activities
-
5,888|**2024**
Support
costs
Governance
costs
**£**
£
£
5,888
-
6,274
5,888
-
6,274
5,888
-
6,274|2023
£
6,274|
|---|---|---|
|||6,274|
|||6,274|
## **7 Directors**
During both the current and prior year, none of the directors received any remuneration, benefits or expenses from the charity.
## **8 Employees**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Wages and salaries|40,398|46,942|
There was an average of one employee during the year and the prior year. The employee's time was equally split between fundraising and various other charitable activities.
There were no employees whose annual remuneration was more than £60,000.
## **9 Tangible fixed assets**
|**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation and impairment**
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023|**Aircraft**
**Equipment**
**£**
**£**
36,958
2,691
36,958
2,691
19,676
2,085
1,728
122
21,404
2,207
15,554
484
17,282
606|**Total**
**£**
39,649|
|---|---|---|
|||39,649|
|||21,761
1,850|
|||23,611|
|||16,038|
|||17,888|
- 11 -
## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **10 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**2024**
**£**
-
3,404
3,404|**2023**
**£**
26,500
3,165|
|---|---|---|
|||29,665|
## **11 Creditors: amounts falling due within one year**
|Other taxation and social security
Other creditors
Accruals and deferred income|**2024**
**£**
117
2,345
5,260
7,722|**2023**
**£**
-
618
5,180|
|---|---|---|
|||5,798|
## **12 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||||**Movement**|**Movement**|**in funds**||
|---|---|---|---|---|---|---|
||**Balance at**||**Income**||**Expenditure**|**Balance at**|
||**1 April 2023**||||**31**|**March 2024**|
||**£**||**£**||**£**|**£**|
|Aircraft Fund|14,623||20,000||(1,728)|32,895|
|Training Fund|85,719||43,176||(128,895)|-|
|Salary Fund|-||25,000||(25,000)|-|
|Other|-||1,500||(1,055)|445|
||100,342||89,676||(156,678)|33,340|
||**Balance at**||**Income**||**Expenditure**|**Balance at**|
||**1 April 2022**||||**31**|**March 2023**|
||**£**||**£**||**£**|**£**|
|Aircraft Fund|11,243||5,300||(1,920)|14,623|
|Training Fund|-||121,164||(35,445)|85,719|
|Salary Fund|-||30,500||(30,500)|-|
||11,243||156,964||(67,865)|100,342|
Aircraft fund - this fund was to fund the purchase of an additional aircraft. Training fund - this fund is to fund the training of all pilots. Salary fund - this fund represents income received to fund salary costs.
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## **WINGS FOR WARRIORS LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **13 Analysis of net assets between funds**
|**Analysis of net assets between funds**||
|---|---|
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2024**
**2024**
**£**
**£**
Fund balances at 31 March 2024 are represented by:
Tangible assets
484
15,554
Current assets/(liabilities)
72,060
17,786
72,544
33,340
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31 March 2023 are represented by:
Tangible assets
606
17,282
Current assets/(liabilities)
95,534
83,060
96,140
100,342|**Total**
**2024**
**£**
16,038
89,846|
||105,884|
||**Total**
**2023**
**£**
17,888
178,594|
||196,482|
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 13 -