2023-03-31-accounts - The Waddington Flying Club

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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 2023

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 2023

The trustees present their annual report together with the financial statements for the year ended 31 March 2023. 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 In 2021 the overseeing body, The Royal Air Force Flying Clubs Association (RAFFCA) was superseded by a new organisation, The Royal Air Force Sport Aircraft (RAFSA).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:

a) To provide effective flying training for Service and associated personnel in a professional manner, at the lowest possible cost.
b) Offer flying instruction leading to the award of a civil flight crew licence or rating.
c) Provide facilities that enable members to engage in flying related activities.
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

The Waddington Flying Club

Annual Report for year ended 31 March 2023

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 decreased 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 Class Rated Instructor was supported with the cost of their training courses and accreditations. This will assist the School to maintain pilot currency and competency.

Other successes include 4 students achieved their PPL, 2 pilots qualified to fly at night, 3 PPL holders renewed their licences, 2 pilots revalidated their Restricted Instrument Ratings, and 3 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 6.5% in the year to £100,446 (2022: £94,293). Income from flying fees and instruction fell slightly to £63,980 (2022: £66,688). Subscriptions also decreased slightly to £13,445 (2022: £14,935).

Total operating resources expended increased by nearly 10% to £100,038 (2022: £90,994), but £7,814 of these costs were covered by from reserves. Management and administration costs fell slightly to £14,825 (2022: £16,394). As a result WFS reported an operating deficit of £14,148 (2022: £13,095).

The Engine Replacement Fund, which stood at £27,943 at 31 March 2022, 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.

After the transfer above, at 31 March 2023 WFS had total liquid funds of £40,452 (2022: £66,830).

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 Waddington Flying Club

Annual Report for year ended 31 March 2023

Structure, Governance and Management

As an approved RAF Sport, overall governance of the Waddington Flying School (WFS) falls to the RAF Sport Aircraft Association (RAFSA). RAFSA is itself a Charitable Incorporated Organisation (CIO). However, the day-to-day management and control of the WFS falls to the Trustees and general management committee.

The Managing Trustee, Principal Trustee (also appointed as the Chairman) and the committee members are appointed by the membership of the School. The WFS Officer in Charge heads the general committee. However, all management decisions, acquisitions and expenditure are subject to the Principal Trustee’s approval.

Committee/Board of Trustee meetings take place every three months. The budget for the next financial year is set in April by the School Executive Committee for approval by the Members at a General Meeting. The Annual General Meeting ratifies the annual audited accounts of the School. Minutes are taken at each Committee and General meeting and are circulated electronically to reach the Trustee within 10 working days of the meeting for their approval. The AGM was held electronically with sufficient time allowed for personnel to read and digest committee decisions and to comment / vote as necessary on issues of the day.

The Trustees have continued a programme of work to identify procedures to mitigate risk and to minimise potential impact should risks materialise.

Administrative Information

The company is registered with the Charity Commission for England and Wales – Charity number 1155164

The correspondence address is: RAF Waddington Flying Club, RAF Waddington, Lincoln, LN5 9NB

The charity is governed by its constitution which was adopted on 4 September 2013

Trustees

The trustees who served from 1 April 2022 to the date of this report are:

Air Cdre (retd) Alistair Seymour Sqn Ldr C Hives Flt Lt Mark Chapman Flt Lt N Whitehead Flt Lt Kevin Fyfield

Approved by the Trustees on the Ninth day of October 2023 and signed on its behalf by

Richard Dawe WFS Manager and Charity Contact.

The Waddington Flying Club Independent Examinor's report to Ihe truste I report to the tnjstees on my èxaminab.on of the accounts ofThe Waddin9ton Flying Club for the year ended 31 March 2023. Respective responsibilltim of Tru$t¢¢• •rKI Examiner The charity's Iruslees are sponsible for Ihe prepafatson of the accounts in a(xordance wilh the requirements ol thè Charities Act 2011 (Xhe Act l. The ¢hanly'5 lJuslees consider that an audrt 1$ not reqvired for Ihis year under section 144121 of the ch8rits.es Aci 2011 (the 2011 Act) and Ihal an inderendent examination is needed. It 1$ my SponSIbl1Y lo.. examine the a¢Unts under sectKJn 145 ofthe 2011 Act", lo lollLW4 the procedures laid down in the general Directions given by th& Charity CommisSn under section 14515llbl of the Act.. and to Stale whether parbcular matters have ¢m to my 8Itenb. 8a•l• of Indep•nd•nt Ex•mln•rf• rnport My examination was canied wl in arthrdance wrth the genernl Directions gNen by the Charrty Commission. An examination indutJ8 a review of the accounting i•¢ords kepl by the thanty and a comparison ofth? accounts preBented with those reCrds. It Also include$ consideration ol any unusual st•m$ or disclosures in the accounts. and seking explanalion$ from you as truslees conceming any $u¢h matters The Fwcedures undrtaktrn do nol provide all the evidance Ihal would be required in an audit al eonsequontly no opinK)n o gwen as to whether the accounts present 8 true and fair view and the report 1$ limrted to those matters set out in th8 $laten7enl bekn Indepond•nt Examln•rf• •t•t•rnent In connection with my ¢x8min¥tion. no material matters h8ve rthne to my attenlKJn'. 91 whi¢h giv•8 me cause to t4iev& Ihal in. afty material respect, the requir•rnéni8.' lo keep the 8co)unbng recldS in accordance seft 130 of the Chant8 Act". or to prepare 8c¢ounts whtch acrd wilh the ao))unts"ng records and comply with th8 accounting quireMentS of the 2011 Act. have not been met.. or bl lo which, in my opinion, •ttention should be drawn in orl•r lo enable a propor uThJerstandin9 of the ace4)unts to be rea¢hed. J A D Mumby FCA Murnby H8ppenstsll. Chartered Accountants Wellingore Hall Wellingor& Lincoln LN5 OHX 31,.IA•*1

The Waddington Flying School

Statement of Financial Activities for the year ended 31 March 2023

______ 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) Return of Engine Replacement Fund to RAFSA NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total Funds brought forward TOTAL FUNDS CARRIED FORWARD	___ £ 79,137 8,508 9,512 83 3,206 100,446 - 100,038 14,825 - 114,864 (14,418) - (27,943) (42,361) 115,595 73,234 Unrestricted Funds	_____ Restricted Funds £ - - - - - - - - -	____ TOTAL 2023 £ 79,137 8,508 9,512 83 3,206 100,446 - 100,038 14,825 - 114,864 (14,418) - (27,943) (42,361) 115,595 73,234	____ 2022 £ 81,623 6,835 5,831 4 94,293 - 90,994 16,394 107,388 (13,095) - - (13,095) 128,690 115,595

The Waddington Flying School

Balance Sheet as at 31 March 2023

Notes £ FIXED ASSETS Tangible assets 2 46,693 CURRENT ASSETS Stock - fuel 7,909 Debtors - Prepayments - Bank 5 40,452 48,361 CREDITORS: amounts falling due within one year 21,820 NET CURRENT ASSETS 26,541 TOTAL ASSETS 73,234 CREDITORS: amounts falling due in more than one year NET ASSETS 73,234 RESERVES 7 Operational Reserve 12,000 Engine Replacement Reserve - Project Reserves - General Reserve 61,234 73,234 Unrestricted Funds	Restricted Funds £ - - - - - -	TOTAL 2023 £ 46,693 7,909 - - 40,452 48,361 21,820 26,541 73,234 73,234 12,000 - - 61,234 73,234	2022 £ 52,193 9,600 66,830 76,430 13,028 63,402 115,595 115,595 12,000 27,943 7,814 67,838 115,595

The Waddington Flying Club

Notes to the Financial Statements for the year ended 31 March 2023

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

The Waddington Flying School

Notes to the Financial Statements for the year ended 31 March 2023

2. TANGIBLE FIXED ASSETS

Cost At 1 April 2022 Additions Disposals Depreciation At 1 April 2022 Disposals Charge for year NET BOOK VALUE At 31 March 2023 At 31 March 2022 3. ANALYSIS OF INCOME £ a) Charitable Activities Flying/instruction fees 63,980 Exam fees 1,702 Subscriptions 13,455 79,137 b) Trading Sales - fuel and oil 8,508 Other 8,508 c) Grants and Donations RAF Charitable Trust - Scampton hangar - RAFFCA/RAFSF - Gift-Aid receipts 3,155 Closed ELC 6,357 9,512 d) Investments Bank interest 83 Suspense 3,206 TOTAL INCOMING RESOURCES 100,446 Unrestricted Funds	Buildings £ 60,440 60,440 10,028 - 5,055 15,083 45,357 50,412 Restricted Funds £ - - - -	Plant & Equipment £ 25,910 25,910 24,129 - 445 24,574 1,336 1,781 TOTAL 2023 £ 63,980 1,702 13,455 79,137 8,508 - 8,508 - - 3,155 6,357 9,512 83 97,240	TOTAL £ 86,350 - - 86,350 34,157 - 5,500 39,657 46,693 52,193 2022 £ 66,020 668 14,935 81,623 5,883 952 6,835 - - 3,487 2,344 5,831 4 94,293

The Waddington Flying School

Notes to the Financial Statements for the year ended 31 March 2023

4. ANALYSIS OF EXPENDITURE £ a) Raising Funds Functions - b) Charitable Activities Fuels 19,474 Aircraft Hire 23,065 Aircraft maintenance 20,446 Insurance 5,894 Instruction costs 12,125 Training 1,163 Hangar relocation costs 11,842 Other direct costs 529 Depreciation 5,500 100,038 c) Management and Administration Manager 6,657 Sundry admin exps 724 Cleaning & maint 1,385 IT, software 2,389 Telephone, internet etc 242 Travel & sub 418 Professional and consultancy - Independent Examiner Fee 750 Insurance 158 RAFFCA Subscription 1,312 Bank charges 791 14,825 TOTAL RESOURCES EXPENDED 114,864 5. CASH AT BANK AND IN HAND £ HSBC Current 9,955 Reserve 20,481 Bond 10,000 Engine Replacement Fund - Cash 16 40,452 Unrestricted Funds Unrestricted Funds	Restricted Funds £ - - - - Restricted Funds £ -	TOTAL 2023 £ - 19,474 23,065 20,446 5,894 12,125 1,163 11,842 529 5,500 100,038 6,657 724 1,385 2,389 242 418 - 750 158 1,312 791 14,825 114,864 TOTAL 2023 £ 9,955 20,481 10,000 - 16 40,452	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 2022 £ 8,459 20,398 10,000 27,943 30 66,830

The Waddington Flying School

Notes to the Financial Statements for the year ended 31 March 2023

6. CREDITORS AND ACCRUALS: Falling due within one year

Restricted Funds £ £ Creditors - Accruals 913 Payments received in advance 20,906 21,820 - 7. MOVEMENT ON RESERVES Operational Project Engine Reserve Reserves Replacement £ £ £ Balance at 1 April 2021 12,000 9,258 26,113 Transfers to/(from) (1,444) 1,830 Surplus for year Balance at 1 April 2022 12,000 7,814 27,943 Transfers to/(from) (7,814) (27,943) Deficit for year Balance at 31 March 2023 12,000 - - Unrestricted Funds	TOTAL 2023 £ - 913 20,906 21,819 General Reserve £ 81,319 (386) (13,095) 67,838 7,814 (14,418) 61,234	2022 £ 2,363 913 9,751 13,027 TOTAL £ 128,690 - (13,095) 115,595 (27,943) (14,418) 73,234