## THE
## WADDINGTON FLYING SCHOOL
Based at RAF Waddington by kind permission of the Station Commander
ANNUAL ACCOUNTS 01 April 2025 to 31 March 2026
## Prepared by Richard A Dawe GCGI
## Registered Charity 1155164
The Waddington Flying School is a trading style of The Waddington Flying Club
Independent Examination carried out by J A D Mumby FCA Mumby-Heppenstall Chartered Accountants
**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 2026**
The trustees present their annual report together with the financial statements for the year ended 31 March 2026. 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 In 2021 the overseeing body, The Royal Air Force Flying Clubs Association (RAFFCA) was superseded by a new organisation, The Royal Air Force Sport Aircraft (RAFSA).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
1
**The Waddington Flying Club**
## **Annual Report for year ended 31 March 2026**
## **Achievements and Performance**
The Waddington Flying School’s output has found a new equilibrium this year, following the disruption of multiple aircraft turnovers and severe operational restrictions associated with the Red Arrows’ winter practice period; as well as the introduction of the Protector to RAF Waddington. At time of publication, with one leased aircraft and circa 20 regularly flying members; WFS is operationally sustainable.
Our instructor faculty has experienced much-needed growth through the arrival of Sqn Ldr Angus Lilley and, particularly, the return of Mr Don Paxton; joining stalwart instructors Chelvin Hibbert and Andrew Rake. We have also benefitted from shorter periods of instruction from other individuals, serving and non-serving, however working commitments have prevented them being long-term assets. The expanded faculty has been instrumental in a very successful year for WFS JROPSS delivery. In May, CPO Goodlass attended the Introductory Flying Scholarship Day at RAF Benson with G-CLDK, flying three scholars. Then, allocated three out of eighteen 2025 JROPSS scholarships, WFS successfully trained all three scholars to completion of First Solo by the closure date of the Beyond Solo Scheme (BSS) application window. From a very competitive board, two of those scholars received BSS top-up scholarships out of eight available across RAFSA. WFS’ success in the training sphere, despite significant operational challenges, was reflected in the award of RAFSA Club of the Year 2025
Achievement and success have also been found within our Ops and Assurance team. Following recommendations made from a good Fuels and Gas Safety Assurance Assessment in 2024, WFS received high praise from the inspection in May 25; demonstrating “gold standard” flying club fuel management. This was testament to the hard work and attention to detail of our Club Manager, Mr Richard Dawe. Small wins are also achieved on a weekly basis by WFS’ commitment to ensuring representation every week at the airfield Operational Planning Group (OPG), typically by Mr Dawe but increasingly by a cross-section of the club’s serving members. Through the OPG, WFS is ensuring that club access to the airfield is always given due consideration by airfield stakeholders; going a significant way to preventing greater disruption to flying availability. With the handover of OiC duties to Flt Lt Dan McHugh during the New Year, and later of Dep OiC duties to Flt Lt John White, WFS is now able to reach deeper into the airbase structure to protect our access to the airfield. Finally, a change in primary means of intraclub communication, from e-Allocator to a WhatsApp community, has paid dividends in increasing engagement between members; particularly in volunteering and sourcing a Duty Member to assist flying at weekends.
## **Financial Review**
Total incoming resources increased by 16% in the year to £89,941 (2025: £77,152). Income from flying fees and instruction increased to £52,200 (2025: £48,567), but subscriptions decreased further to £8,885 (2025: £10,245). The club received grants from RAFSA £1,671 and RAFCF £2,000, and the club received £4,912 from the ELC scheme (Enhanced Learning Credit). Finally income from the sale of fuels and oils increased by 17% to £17,906 (2025: £15,223).
Total operating expenses increased by 11% to £65,923 (2025: £59,253). Management and administration costs rose slightly to £14,651 (2025: £13,839). As a result WFS reported an operating surplus of £9,367 (2025: £4,061).
At 31 March 2026 WFS had total liquid funds of £50,581 (2025: £47,249).
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.
2
**The Waddington Flying Club**
**Annual Report for year ended 31 March 2026**
## **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 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 uses the trading style of Waddington Flying School.
The charity is governed by its constitution which was adopted on 4 September 2013
## **Trustees**
The trustees who served from 1 April 2025 to the date of this report are:
Sqn Ldr C Hives Air Cdr (Ret’d) A Seymour Flt Lt N Whithead (stood down 31 Dec 2025)
Approved by the Trustees on the Fourth day of August 2026 and signed on its behalf by
## **Sqn Ldr C Hives**
3
**The Waddington Flying Club**
## **Independent Examiner’s report to the trustees**
I report to the trustees on my examination of the accounts of The Waddington Flying Club for the year ended 31 March 2026.
## **Respective responsibilities of Trustees and Examiner**
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act; and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's report**
My examination was carried out in accordance with 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below
## **Independent Examiner’s statement**
In connection with my examination, no material matters have come to my attention:
- a) which gives me cause to believe that in, any material respect, the requirements:
- to keep the accounting records in accordance with section 130 of the Charities Act; or
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act.
have not been met; or
- b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J A D Mumby FCA Mumby Heppenstall, Chartered Accountants Wellingore Hall Wellingore Lincoln LN5 0HX
4
## **The Waddington Flying School**
## **Statement of Financial Activities for the year ended 31 March 2026**
______________________________________________________________________________________________
|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**|£
61,085
18,156
10,700
695
-
90,635
-
65,923
14,651
-
80,574
10,061
-
-
10,061
83,398
93,459
Unrestricted
Funds|Restricted
Funds
£
-
-
-
-
-
-
-
-
-|**TOTAL**
**2026**
£
61,085
18,156
10,700
695
-
90,635
-
65,923
14,651
-
80,574
10,061
-
-
10,061
83,398
93,459|2025
£
59,555
15,223
2,374
912
-
78,065
-
59,253
13,839
-
73,092
4,973
-
4,973
78,425
83,398|
|---|---|---|---|---|
5
## **The Waddington Flying School**
## **Balance Sheet as at 31 March 2026**
|__________________________________________
Notes
**FIXED ASSETS**
Tangible assets
2
**CURRENT ASSETS**
Stock - fuel
Debtors
Prepayments
Bank
5
**CREDITORS**
6
**Amounts falling due within one year**
**NET CURRENT ASSETS**
**TOTAL ASSETS**
**CREDITORS: amounts falling due in more than o**
**NET ASSETS**
**RESERVES**
7
Operational Reserve
General Reserve|_______________
£
46,693
3,600
-
-
50,580
54,180
7,415
46,766
93,459
**ne year**
93,459
12,000
81,459
93,459
Unrestricted
Funds|___________
Restricted
Funds
£
-
-
-
-
-
-|________________
**TOTAL**
**2026**
£
46,693
3,600
-
-
50,580
54,180
7,415
46,766
93,459
93,459
12,000
81,459
93,459|__________
2025
£
46,693
1,875
-
-
47,249
49,124
12,419
36,704
83,397
83,397
12,000
71,397
83,397|
|---|---|---|---|---|
6
**The Waddington Flying Club**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **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
7
## **The Waddington Flying School**
## **Notes to the Financial Statements for the year ended 31 March 2026**
__________________________________________________________________________________________
## **2. TANGIBLE FIXED ASSETS**
|**Cost**
At 1 April 2024
Additions
Disposals
**Depreciation**
At 1 April 2024
Disposals
Charge for year
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024
**3.**
**ANALYSIS OF INCOME**
£
**a)**
**Charitable Activities**
Flying/instruction fees
51,005
Exam fees
1,195
Subscriptions
8,885
61,085
**b)**
**Trading**
Sales - fuel and oil
17,906
Other
250
18,156
**c)**
**Grants and Donations**
RAFSA/RAFCT
3,671
Gift-Aid receipts
2,117
Closed ELC
4,912
10,700
**d)**
**Investments**
Bank interest
695
_-_
**TOTAL INCOMING RESOURCES**
90,635
Unrestricted
Funds|Buildings
£
60,440
60,440
14,749
-
251
-
14,499
45,942
45,691
Restricted
Funds
£
-
-
-
-|Plant &
Equipment
£
25,910
25,910
24,908
-
251
25,159
752
1,002
**TOTAL**
**2026**
**£**
51,005
1,195
8,885
61,085
17,906
250
18,156
3,671
2,117
4,912
10,700
695
90,635|**TOTAL**
**£**
86,350
-
-
86,350
39,657
-
-
39,657
46,693
46,693
2025
£
48,567
743
10,245
59,555
15,223
-
15,223
-
2,374
-
2,374
912
78,065|
|---|---|---|---|
8
## **The Waddington Flying School**
## **Notes to the Financial Statements for the year ended 31 March 2026**
__________________________________________________________________________________________
## **4. ANALYSIS OF EXPENDITURE**
|£
**a)**
**Raising Funds**
Functions
-
**b)**
**Charitable Activities**
Fuels
19,796
Aircraft Hire
21,509
Aircraft maintenance
12,078
Insurance
3,856
Instruction costs
8,596
Training
-
Hangar relocation costs
-
Other direct costs
89
Depreciation
-
65,923
**c)**
**Management and Administration**
Manager
6,988
Sundry admin exps
534
Cleaning & maint
1,518
IT, software
2,402
Telephone, internet etc
40
Travel & sub
31
Professional and consultancy
-
Independent Examiner Fee
810
Insurance
226
RAFFCA Subscription
1,275
Bank charges
827
14,651
**TOTAL RESOURCES EXPENDED**
80,574
**5.**
**CASH AT BANK AND IN HAND**
£
HSBC
Current
17,838
Reserve
22,742
Bond
10,000
Engine Replacement Fund
-
Cash
-
50,580
Unrestricted
Funds
Unrestricted
Funds|Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
-|**TOTAL**
**2026**
**£**
-
19,796
21,509
12,078
3,856
8,596
-
-
89
-
65,923
6,988
534
1,518
2,402
40
31
-
810
226
1,275
827
14,651
80,574
**TOTAL**
**2026**
£
17,838
22,742
10,000
-
-
50,580|2025
£
-
25,790
19,037
6,315
-
7,711
375
-
24
-
59,253
6,622
899
1,323
1,899
90
-
-
800
226
1,190
790
13,839
73,092
2025
£
15,201
22,048
10,000
-
-
47,249|
|---|---|---|---|
9
## **The Waddington Flying School**
## **Notes to the Financial Statements for the year ended 31 March 2026**
__________________________________________________________________________________________
## **6. CREDITORS AND ACCRUALS: Falling due within one year**
## **7.**
|Restricted
Funds
£
£
Creditors
-
Accruals
810
Payments received in advance
6,604
7,415
-
**MOVEMENT ON RESERVES**
Operational
Project
Engine
Reserve
Reserves Replacement
£
£
£
Balance at 1 April 2024
12,000
Transfers to/(from)
Surplus for year
Balance at 1 April 2025
12,000
-
-
Transfers to/(from)
Surplus for year
Balance at 31 March 2026
12,000
-
-
Unrestricted
Funds|**TOTAL**
**2026**
£
-
810
6,604
7,414
General
Reserve
£
66,425
4,973
71,398
10,061
81,459|2025
£
-
810
10,748
11,558
**TOTAL**
£
78,425
-
4,973
83,398
10,061
93,459|
|---|---|---|
10