Registered Charity no. 1155164
The Waddington Flying Club
Operating as
The Waddington Flying School
Annual Report and Financial Statements
For the year ended 31 March 2022
Contents
Page
1 – 3 Annual Report 4 Independent Examiner’s Report 5 Statement of financial activities 6 Balance sheet 7 – 10 Notes to the financial statements
The Waddington Flying Club
Annual Report for year ended 31 March 2022
The trustees present their annual report together with the financial statements for the year ended 31 March 2022. The trustees have adopted the provisions of 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 Royal Air Force Waddington Flying Club was established in 2003 and registered as a charity with the Charity Commission as The Waddington Flying Club in 2013. In 2021 the overseeing body, The Royal Air Force Flying Clubs Association (RAFFCA) was superseded by a new organisation, The Royal Air Force Sport Aircraft (RAFSA). As a result, the operating name of the club was changed to the Waddington Flying School (WFS) but the charity remains The Waddington Flying Club.
The object of the Waddington Flying School is:
‘The promotion of efficiency of the armed forces of the Crown by the provision and support of facilities and activities for the efficiency and well- being of Service personnel’.
This object presents the Trustee with wide powers, enabling them to provide charitable assistance to all elements of the Royal Air Force Community. The Waddington Flying School (WFS) has a main aim set by the Trustee:
‘To be respected for our professional and safe approach to flying training, management and airmanship, and to be admired for our friendly and welcoming atmosphere’.
Specifically, the aims of WFS are:
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a) To provide effective flying training for Service and associated personnel in a professional manner, at the lowest possible cost.
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b) Offer flying instruction leading to the award of a civil flight crew licence or rating.
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c) Provide facilities that enable members to engage in flying related activities.
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d) Encourage and promote an interest in aviation and aviation competition.
The charity delivers public benefit as it assists in providing Royal Air Force personnel with the necessary skills to carry out the Royal Air Force contribution to the defence of the United Kingdom and its interests.
Service Funds are established for the benefit of Service personnel to promote military efficiency which underpins esprit de corps and team working, and they help to encourage personnel to develop the character, spirit and attitude to face challenges associated with military service.
As a result, the Fund delivers a benefit to the general public in helping to provide personnel who are motivated, have high morale and are willing to serve the needs of their country and that of its public, at all times
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The Waddington Flying Club
Annual Report for year ended 31 March 2022
Achievements and Performance
The Waddington Flying School has remained in a period of recovery having suffered a general reduction in activity caused by the worldwide pandemic. In turn, income from membership subscriptions somewhat flat-lined and remained key concern for the Trustees.
However, The Junior Rank and Junior Officer Pilot Scholarship Scheme (JRPSS & JOPSS) remained a key deliverable and, to some extent, served to maintain a core operation. Supporting pilots to maintain or regain their currencies safely has been the main effort for the cadre of flying instructors.
Having previously secured several grants to train flying instructors for the school, a further 2 Flight Instructors and 2 Class Rated Instructors were supported with the cost of their training courses and accreditations. This will assist the School to maintain pilot currency and competency.
Other successes include 5 students achieved their PPL, 3 pilots qualified to fly at night, 3 pilots revalidated their Restricted Instrument Ratings, and 2 flight Instructors revalidated their Instructor ratings.
Having relocated to a new operating site at RAF Waddington, a new MOD encroachment agreement allowed refurbishment works to commence on a self-help basis. Public funds cannot be used for such activity and as such, the works were funded from core funds previously allocated to the task. The refurbishment and fitting-out of the schoolhouse was considered an excellent achievement which now serves as a first-class training facility.
Financial Review
Total incoming resources increased by 40% in the year to £94,293 (2021: £67,369). Income from flying fees and instruction recovered to £66,688 (2021: £30,474), but was still 45% down on pre-pandemic levels. Subscriptions increased moderately to £14,935 (2021: £14,210).
Total operating resources expended also increased by nearly 40% to £91,380 (2021: £65,314), largely accounted for by the recovery in aircraft operating hours and the associated costs. Management and administration costs increased to £16,393 (2021: £14,362). As a result WFS reported an operating deficit of £13,095 (2021: £1,865 surplus).
At 31 March 2022 WFS had total liquid funds of £66,830 (2021: £72,409).
Principle funding is received from subscriptions and flying activities from School members.
Some additional funding, for specific equipment or activity, is obtained from the RAF Central Fund and the RAF Charitable Trust through the over-arching organisation – the RAF Sports Aircraft Association.
All expenditure is made for the ultimate benefit and provision of services to School members.
The WFS needs a relatively low level of reserves, mainly to cover for the fluctuating aviation supplies market, principally due to the volatile nature of the price of oil. Additional reserves are created and held from time to time when future liabilities and expenditure is identified and the trustees consider it prudent to earmark funds to cover the outlay.
The Engine Replacement Fund, which stood at £27,943 at 31 March 2022 (2021: £26,113), which originally came into the Club when RAFFCA was wound up in 2019, was transferred back to RAFSA (successor organisation to RAFFCA) on 29 June 2022. RAFSA owns the two aircraft concerned but WFC will remain the operator.
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The Waddington Flying Club Annual Report for year frnded 31 Mai'ch 2J22 Structure, Governance •nd Management As an approved RAF Sport. overall governare ofthe Waddinglon Ftying SdK¢I Sl falls to the RAF Sport 'rcraft A$soc¢ation IRAFSAI. RAFSA is itself a Charitai)le IrKotporated Organbsation ICIO). However. Ihe day-to4ay managernenl and control ofthe ts11s to th• TW$t and general management committee. The Managing Tte, Printspal Trusté• (also appnted as the Chairman) the cY)mmrtlee memr5 ar# appointed by thè mèmb8fship ol th6 School. The WFS Offur in Charge heads the genéral commrttee. Htywever. all management dgci$K)n$. acquisition8 and expendrture are suttye¢i 10 th• Pnn)pal Tw$lee's apwoval. Commrt¢ewBoord ol Tw$ta m88tin9S take fv every three monlhs The budget for the next finanual yèar is set in April by thè School Ex(1¥9 CfyMmAt8e for approval by the Members al a General Meebng. The Annual General Mèètin9 ratifies the annual auditad accwnts ol th• School. Minutes are taken at eath Ctsmrniltee and G&n&ral meeting and ar8 circulated eloctronically lo reach Ihe Trustse wilhin 10 wthing days of Ihe meeting for th'r approval. In 2021. due to COVID 19 re3triction$ th¥ AGM was held eledronically vnth suffioent time allcwed for personr1 r•ad #nd dig•St comm11t deei$ions and lo commtrnt I Vole as n$sory on issues ol the day. The Trustees h¥ve t>)nlinufjd • prograThffig ofwork to Klentify woceddres to M'gate ii6k and lo minimis• potential impact Should iisk5 materialist. Adminl•tr•tbv• Inlom•tlon Th• company i• r•gisterod with tho Chanty CommY8Bion for Engi¥nd •rkl Wal•$- Chonty numb•r 1155164 The ¢Orr¢$pond•n adar•s$ 1$.. RAF Wa&Jii)gkni Flying Club. RAF Waddington. LirKon. LN5 9N8 The tharsty is governed by it8 con81rtution was a¢JtsPttd on 4 2013 Tru•t••• The Iruslees wtr) seryed from 1 April 2021 to the dale Ctflhis feP)rl are". Gp Capt S Kilvinglon IStt>Jd down 31 March 20221 Sqn Ldr A Robson {- tood do*n 31 Mah i022 Sqn Ldr C Hivès Ftt Lt N ltehead Approved by Ihe Trustees on the l¥. dayof J4fvJ 2023 li9j on its beho11 by Sqn Ldr C Hlv•s
The Waddington Flying Club Independont Examiner's report to the trustoes I report lo thg trustetts on my examip.alion of Ihe aeeounls ol Tne W&Jdington Flyin9 Club for the year ended 31 March 2022. Respective respon¥ibiliti•s af Trustees and Examiner The charrty's trustees are resFx)nsible lor the preparation of thè accounts in accordance with the ruIreMents of the Charities Act 2011 1.the Act"). The Charity's trustées conwder that an audt is not requirèd for this year under section 144121 of the Chanties Act 2011 (the 2011 Act) and Ihat an independerf examinat is needed. It is rny sponsibl)rtY to.. examine the accounts undef S•CtA?n 145 ofthe 2011 Art. to follow thè pr¢¢•dures laid ¢Jown in the general Direcbons given by the Charity Commission undef section 14515llbl of the Act.. and lo stsle whelhef Particular matters have eome lo my attentim. Ba81• ol Indop•nd•rrt EMIn•t• rport My examination was carried out in acrdanCe with the general oirect$ 9iven by the Charity Commi66ion. An examinalion includes a revw4 of the accounting recoft1$ kept by the tharity and a comparison of the accounts presented with thoge rec4Jfds. It also indud•s ¢onsK1efation of any unusual rtems or disdosur&s in the accounts. and seeking explan8tion¥ Irom you ¥5 trustees rnricerning any 3yGh mayers. The prdureS undertaken do not provide 811 the evidence that would be required in an oudit and tons•qu&nUy no On)n is gNen •$ lo Wlhal th• accounts present a true and lair view and th• r•port is limrted to those matters set out in th& statément below Ind•p•nd•nt Ex#mln•r'• st•tsm•nt In connection wlh my ex8m1natn, tK m8twal matters have c4Jme io my 8ttenb"on'. 81 whith gives mg to tolieve Ihat in. any material reska, the requirements.. to kegp th8 xcounting WerdS in accorfanc¥ wilh 130 01 the chari1 Act.. or to prepare ac£ounts which accord with the QuntirJ t•¢ord$ and cunply wth the accounting requirem*nl$ of the 2011 Act. have not been m•l', or bl to which, in my opinion, attenn shoukj be drawn in order to enable a proper understsnding of the o¢¢ounts to be reached. '&/.,/a. J A D Mumby FCA Mumby Heppenstall, Chartered Accountants Wellingore H811 Wèllingora Lincx)In LN5 OHX
The Waddington Flying School
Statement of Financial Activities for the year ended 31 March 2022
| ______ Notes INCOMING RESOURCES 3 Charitable Activities Other Trading Grants and Donations Investments Other Total RESOURCES EXPENDED 4 Raising Funds Charitable Activities Management and administration Other Total NET (DEFICIT)/INCOME Transfers between funds Other recognised gains/(losses) NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total Funds brought forward TOTAL FUNDS CARRIED FORWARD |
___ £ 81,623 6,835 5,831 4 - 94,293 - 90,994 16,394 - 107,388 (13,095) - (13,094.58) 128,690 115,595 Unrestricted Funds |
_____ Restricted Funds £ - - - - - - - - - |
____ TOTAL 2022 £ 81,623 6,835 5,831 4 - 94,293 - 90,994 16,394 - 107,388 (13,095) - - (13,095) 128,690 115,595 |
____ 2021 £ 44,685 5,080 17,508 97 |
|---|---|---|---|---|
| 67,370 | ||||
| - 50,953 14,552 |
||||
| 65,505 | ||||
| 1,865 - - |
||||
| 1,865 | ||||
| 126,825 | ||||
| 128,690 |
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The Waddington Flying School
Balance Sheet as at 31 March 2022
| Unrestricted | Restricted | TOTAL | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 2 | 52,193 | - | 52,193 | 62,666 |
| CURRENT ASSETS | |||||
| Stock - fuel | 9,600 | 9,600 | 6,587 |
||
| Debtors | - | - | |||
| Prepayments | - | - | |||
| Bank | 5 | 66,830 | 66,830 | 72,409 | |
| 76,430 | - | 76,430 | 78,996 | ||
| CREDITORS: amounts falling due within one year | 13,028 | 13,028 | 12,972 | ||
| NET CURRENT ASSETS | 63,402 | - | 63,402 | 66,024 | |
| TOTAL ASSETS | 115,595 | - | 115,595 | 128,690 | |
| CREDITORS: amounts falling due in more than one | year | ||||
| NET ASSETS | 115,595 | - | 115,595 | 128,690 | |
| RESERVES | 7 | ||||
| Operational Reserve | 12,000 | 12,000 | 12,000 | ||
| Engine Replacement Reserve | 27,943 | 27,943 | 26,113 | ||
| Project Reserves | 7,814 | 7,814 | 9,258 | ||
| General Reserve | 67,838 | 67,838 | 81,319 | ||
| 115,595 | - | 115,595 | 128,690 |
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The Waddington Flying Club
Notes to the Financial Statements for the year ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the 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 102) (effective 1 January 2019)'. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and bas been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
551111
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The Waddington Flying School
Notes to the Financial Statements for the year ended 31 March 2022
2. TANGIBLE FIXED ASSETS
| Cost At 1 April 2021 Additions Disposals Depreciation At 1 April 2021 Disposals Charge for year NET BOOK VALUE At 31 March 2022 At 31 March 2021 3. ANALYSIS OF INCOME £ a) Charitable Activities Flying/instruction fees 66,020 Exam fees 669 Subscriptions 14,935 81,623 b) Trading Sales - fuel and oil 5,883 Other 952 6,835 c) Grants and Donations RAF Charitable Trust - Scampton hangar - RAFFCA/RAFSF - Gift-Aid receipts 3,488 Closed ELC 2,344 5,831 d) Investments Bank interest 4 TOTAL INCOMING RESOURCES 94,293 Unrestricted Funds |
Buildings £ 60,440 60,440 - - 10,028 10,028 50,412 60,440 Restricted Funds £ - - - - |
Plant & Equipment £ 25,910 25,910 23,684 - 445 24,129 1,781 2,226 TOTAL 2022 £ 66,020 669 14,935 81,623 5,883 952 6,835 - - 3,488 2,344 5,831 4 94,293 |
TOTAL £ 86,350 - - |
|---|---|---|---|
| 86,350 | |||
| 23,684 - 10,473 |
|||
| 34,157 | |||
| 52,193 | |||
| 62,666 | |||
| 2021 £ 29,894 580 14,210 |
|||
| 44,684 | |||
| 4,546 534 |
|||
| 5,080 | |||
| 9,588 - 3,449 4,471 |
|||
| 17,508 | |||
| 97 | |||
| 67,369 |
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The Waddington Flying School
Notes to the Financial Statements for the year ended 31 March 2022
| 4. ANALYSIS OF EXPENDITURE £ a) Raising Funds Functions - b) Charitable Activities Fuels 18,847 Aircraft Hire 18,375 Aircraft maintenance 15,058 Insurance 7,823 Instruction costs 12,851 Training 2,860 Hangar relocation costs 3,592 Other direct costs 1,116 Depreciation 10,473 90,994 c) Management and Administration Manager 7,275 Sundry admin exps 232 Cleaning & maint 1,544 IT, software 2,115 Telephone, internet etc 281 Travel & sub 844 Professional and consultancy - Independent Examiner Fee 1,296 Insurance 798 RAFFCA Subscription 1,435 Bank charges 573 16,394 TOTAL RESOURCES EXPENDED 107,388 5. CASH AT BANK AND IN HAND £ HSBC Current 8,459 Reserve 20,398 Bond 10,000 Engine Replacement Fund 27,943 Cash 30 66,830 Unrestricted Funds Unrestricted Funds |
Restricted Funds £ - - - - Restricted Funds £ - |
TOTAL 2022 £ - 18,847 18,375 15,058 7,823 12,851 2,860 3,592 1,116 10,473 90,994 7,275 232 1,544 2,115 281 844 - 1,296 798 1,435 573 16,394 107,388 TOTAL 2022 £ 8,459 20,398 10,000 27,943 30 66,830 |
2021 £ - 11,273 7,871 4,594 6,458 5,319 6,300 6,942 1,640 556 |
|---|---|---|---|
| 50,953 | |||
| 6,859 481 1,979 1,272 1,635 574 - 787 203 - 761 |
|||
| 14,551 | |||
| 65,504 | |||
| 2021 £ 10,838 25,394 10,000 26,113 64 |
|||
| 72,409 |
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The Waddington Flying School
Notes to the Financial Statements for the year ended 31 March 2022
6. CREDITORS AND ACCRUALS: Falling due within one year
| 6. CREDITORS AND ACCRUALS: Falling due within one year |
|||
|---|---|---|---|
| £ Creditors 2,363 Accruals 913 Payments received in advance 9,751 13,028 7. MOVEMENT ON RESERVES Unrestricted Funds |
Restricted Funds £ - |
TOTAL 2022 £ 2,363 913 9,751 13,027 |
2021 £ 117 750 12,105 |
| 12,972 | |||
| EMENT ON RESERVES | ||||
|---|---|---|---|---|
| Balance at 1 April 2020 Transfers to/(from) Surplus for year Balance at 1 April 2021 Transfers to/(from) Deficit for year Balance at 31 March 2022 |
Operational Reserve £ 12,000 12,000 12,000 |
Project Engine Reserves Replacement £ £ 22,500 24,250 (13,242) 1,863 9,258 26,113 (1,444) 1,830 7,814 27,943 |
General Reserve £ 68,075 11,379 1,865 81,319 (386) (13,095) 67,838 |
TOTAL £ 126,825 - 1,865 |
| 128,690 - (13,095) |
||||
| 115,595 |
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