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2024-12-31-accounts

OFFIC Trustees’ Annual Report IALSENSI for the period 1[st] January 2024 to 31[st] December 2024 TIVE

The Royal Air Force Bobsleigh, Luge and Skeleton Association

Financial Review

Review of the charity’s financial position at the end of the period (SORP Para 1.21)

The BLSA continue to sit in a suitable position with an adequate amount of unrestricted funds built up in reserve. Costings of overseas tracks has increased this year with track availability also proving to be a concern. With the loss of two major tracks due to refurbishment the BLSA is having to look to other tracks for availability which will continue to cause issues into the 25/26 season. Whilst the loss of the tracks has not stopped the BLSA conducting their overseas activities, the flexibility in locations and timings has been greatly reduced, forcing the BLSA to use previously unused tracks. The ongoing restrictions with track availability particularly in the Olympic year is likely to cause difficulties in achieving all the intended aims in 25/26. The Committee are continually looking to streamline expenditure within risk appetite to enable as many events as possible to be conducted.

The BLSA have continued to receive the required grants for operational costs and overseas activities in line with the Committee 5-year plan and have been able to remain within set budgets of training and competition. Streamling and changing the previous accommodation approach has enabled activities to remain affordable to the lower ranks with the reduction in grant allocation however, this does come with additional considerations and impacts to team cohesion and daily time management. Should the allocated grants decrease further beyond their current allocation then it will be extremely difficult for the BLSA to run the optimum number of events with suitable accommodation, PPE and maintenance equipment resulting in a reduced output for athletes.

Statement explaining the policy for holding reserves stating why they are held (SORP Para 1.22)

Whilst it is not necessary to hold reserves due to the funding avenues from RAF Central Fund retaining some reserves does give an amount of flexibility. Reserves are held to support extraordinary expenditure that is not covered by RAFCF or other grants and provides a buffer for the discipline should there be additional unexpected costs.

Amount of reserves held (SORP Para 1.22) £16,726.00

Reasons for holding zero reserves (SORP Para 1.22) N/A

Details of fund materially in deficit (SORP Para 1.24) The fund is not in deficit.

Explanation of any uncertainties about the charity continuing as a going concern (SORP Para 1.23) As stated above the track costs are increasing coupled with track availability and with a further reduction in funding there is a potential that the BLSA will be unable to support all planned events across the disciplines due to personal contributions being unachievable, particularly for Junior Ranks or those with reduced disposable income. The situation continues to be monitored and worked through to ensure maximum amount of events are held.

OFFIC IAL-1 SENSI TIVE

OFFIC Trustees’ Annual Report IALSENSI for the period 1[st] January 2024 to 31[st] December 2024 TIVE

Additional information (optional)

The charity’s principal sources of funds (including any fundraising) (SORP Para 1.47)

The principal source of funding is from the annual grant received from the RAF Central Fund, which is split down into the 4 separate disciplines. Additional funding is received from the RAF Winter Sports Association, the Nuffield Trust and personal contributions from the athletes.

Sponsorship has proven difficult to source due the lack of ability to allow sponsors first hand exposures to the sports. This is expected to improve in 2025 as the BLSA is working with potential sponsors in understanding how they can be included in overseas events.

Investment policy and objectives including any social investment policy adopted (SORP Para 1.46)

There is no set policy as equipment is used until end of life and is replaced as required.

A description of the principal risks facing the charity (SORP Para 1.46)

The key risks facing the charity are as follows:

This is because the majority of events are required to be carried out abroad due to the lack of ice and snow facilities in the UK. Furthermore, the vast majority of kit and equipment is sourced from Europe, America and Canada due to a limited amount of UK based suppliers.

Other

N/A

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature Lisa Mitchell (Signed electronically) Full Name Lisa Mitchell Position BLSA Chair

OFFIC IAL-2 SENSI TIVE

OFFIC Trustees’ Annual Report IALSENSI for the period 1[st] January 2024 to 31[st] December 2024 TIVE

Date

30 Oct 2025

OFFIC IAL-3 SENSI TIVE

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITABLE INCORPORATED ORGANISATION CIO NUMBER 1178000

Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

CONTENTS

Pages 3 to 7 Report of the Trustees
Page 8 Statement of Financial Activities
Page 9 Balance Sheet
Pages 10 to 15 Notes to the Financial Statements
Page 16 Independent Examiners Report to the Trustees.

2

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

LEGAL AND ADMINISTRATIVE INFORMATION

CIO NUMBER

1178000

START OF FINANCIAL PERIOD

1 January 2024

END OF FINANCIAL PERIOD

31 December 2024

TRUSTEES THAT SERVED DURING THE YEAR TO 31ST DECEMBER 2024

Sqn Ldr L Mitchell Chair Wg Cdr M Smith BLSA Ops Director (resigned June 2024) Sqn Ldr S Preston Trustee (resigned June 2024) WO N Lashbrook Skeleton Team Manager (resigned June 2024) FS M Silva Natural Luge Team Manager (resigned June 2024) Chf Tech H Carr BLSA Treasurer (resigned June 2024) Flt Lt R Thornbury Trustee (appointed June 2024) Flt Lt S Cecy BLSA Safety Manager (appointed June 2024) WO K Isaacs Trustee (appointed June 2024) Flt Lt S Steele Trustee (appointed June 2024) WO C Dupee Trustee (appointed June 2024)

AOC no. 22 (Training) Group may appoint one trustee who will be the Chair of the CIO. The remaining trustees are elected at AGM.

CORRESPONDENCE ADDRESS

Room 43, Kermode Hall RAF Halton Aylesbury Buckinghamshire HP22 5PG

GOVERNING DOCUMENT

CIO Association document registered 18th April 2018, as amended 15th October 2024

BANKERS Royal Bank of Scotland Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP INDEPENDENT EXAMINER Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG

OBJECTS

The objects for which the Charitable Incorporated Organisation is established (the “Objects”) are to promote the effectiveness of His Majesty’s Armed Forces by increasing physical fitness, fostering the esprit de corps and raising morale of members of the Royal Air Force and other services in an inclusive and safe environment, through the promotion of participation and furthering its proper administration whilst enabling the provision of facilities for Bobsleigh, Luge and Skeleton Winter Sports.

3

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

OBJECTIVES AND ACTIVITIES

The objects for which the Charity is established (the “Objects”) are to promote the effectiveness of His Majesty’s Armed Forces by increasing physical fitness, fostering the esprit de corps and raising morale of members of the Royal Air Force and other services in an inclusive and safe environment, through the promotion of participation and furthering its proper administration whilst enabling the provision of facilities for Bobsleigh, Luge and Skeleton Winter Sports.

The BLSA as a whole conduct a minimum of three, although traditionally four, main overseas events during the seasonal year, one for Natural Luge and the remaining for the rest of the association. In support of these events, the BLSA conduct a number of training and selection events to support athlete development. These events consist of wheeled luge events, push track training, general fitness and conditioning, equipment training days and administrative days for committee members.

The overseas events consist of on ice training, general strength and conditioning, development of athlete sliding through feedback session and track walks culminating in a race at the end of each week to enable athletes to test their abilities in race conditions.

STATEMENT ON PUBLIC BENEFIT

The trustees have been mindful of the guidance issued by the Charity Commission on public benefit.

CONTRIBUTION BY VOLUNTEERS

It is acknowledged that sport in the RAF is delivered through the aegis of the Sports Associations and the willing, enthusiastic volunteers who undertake roles on the Executive Committees and in the associations. The delivery of RAF competition would not be possible without officials, all of whom are volunteers. The contribution in these roles is highly valued and much appreciated and recognised as a duty activity in Service policy documents. The Trustee cadre was changed at the AGM and are likely to remain in post for up to 3 years.

EXECUTIVE COMMITTEE

Committee member name Office (if any) Dates acted if not for whole year
Sqn Ldr L Mitchell Chair to the Executive Committee
Flt Lt A Wright BLSA Safety Manager
Fg Off L Farrah Olympic Luge Team Manager Nov-Dec 2024
Sgt JP Kibble BLSA Secretary Apr-Dec 2024
Flt Lt Rhys Thornbury Skeleton Team Manager
Flt Lt S Cecy Ops Director
WO K Isaacs BLSA Treasurer
WO C Dupee Alpine (previously Natural) Luge Team Manager
Flt Lt K McLaughlin Bobsleigh Team Manager

ORGANISATIONAL STRUCTURE

The BLSA is headed by a nominated President who provides oversight, advice, and guidance to the BLSA Committee.

The BLSA Committee is headed by a chairperson, supported by the following roles:

Each Discipline Team Manager is supported by a discipline specific team for equipment, admin, and finance.

4

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024

SOCIAL INVESTMENT

The BLSA does not have an income that can be used to make a profit for the association as all funding is received from the RAFCF therefore does not conduct social investment. However, funds that are given to the association are split predominantly between operating costs and clothing and equipment. Operating cost expenditure typically has a single application as it contributes towards overseas location activity. The majority of clothing and equipment expenditure is always seen as in investment which supports athlete development, PPE for sliding or physical sliding equipment, items purchased within this context is expected to remain in use by the BLSA for up to 20 years subject to any damage sustained that cannot be rectified. A small amount of funding is utilised for consumables such as sandpaper, grease, and tape, all of which are single use but ensure equipment is serviced appropriately to enable safe activity.

ACHIEVEMENTS AND PERFORMANCE

The BLSA primarily benefits each individual who has the opportunity to become involved either as an athlete, a BLSA committee member, safety official or any combination of the three. As athletes, individuals are challenged, both on and off the track, enabling them to put themselves into stretch in a controlled environment developing their ability to push beyond their understood limits developing their war fighter spirit. The also have the opportunity as they develop as athletes within their disciplines to begin so share their experience to more junior athletes. All personnel are exposed to a high level of staff work, organisational, managerial and leadership challenges which supports personal and team learning and development. This helps individuals to try new leadership and management styles in a controlled but demanding environment which can be transferred directly back into their military roles. In 2024, the BLSA was able to provide training opportunities for in excess of 200 athletes ranging from basic skills training to on ice training and racing.

In addition, there was also opportunities for athletes to represent their country on the International Race Circuit in both Bobsleigh and Skeleton with athletes reaching the height of representation as competitive athletes. The athletes who were selected to represent their country have developed a substantial skill set which has had direct benefit back to the military. In addition, their success has inspired a whole new generation of potential athletes to display interest, commitment, and drive to join the BLSA as athletes and staff members ensuring there is a competitive pool of people to drive the skill and competition.

ACHIEVEMENTS AGAINST OBJECTIVES SET

The BLSA does not routinely set numerical targets for athletes to ensure all athletes regardless of ability can achieve their own individual objectives.

Objectives are currently in draft so this will potentially change in 2025. However, it is likely numerical targets will not be set.

FUNDRAISING

The BLSA does not individually fundraise however, through their association with the RAFCF they have been ensuring RAF Sports Lottery is supported by all athletes and where possible supporting the positive work of the RAF CF through social media.

INVESTMENTS

Investment of given grants has been carefully managed to ensure funds are being spent wisely to ensure current and future objectives can be met.

RELATIONSHIP WITH ANY RELATED PARTIES

The BLSA maintains a good relationship with the RAF CF, RAF Sports Federation and NGBs. Often BLSA members are invited to apply for more senior positions within the NGB committees which strengthens the relationship between the BLSA and the NGBs.

TRUSTEE SELECTION METHODS

Chairman appointed by The Air Officer Commanding Number 22 (Training) Group. Other Executive Committee members and Trustees are appointed at AGM.

5

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024

SERIOUS INCIDENTS

There were no serious incidents to report.

FINANCIAL REVIEW

The BLSA continue to sit in a suitable position with an adequate amount of unrestricted funds built up in reserve. Costings of overseas tracks has increased this year with track availability also proving to be a concern. With the loss of two major tracks due to refurbishment the BLSA is having to look to other tracks for availability which will continue to cause issues into the 25/26 season. This could result in a reduction of the number of overseas events being held although this is still a priority and the Committee are continually looking to streamline expenditure within risk appetite to enable as many events as possible to be conducted.

The BLSA have continued to receive the required grants for operational costs and overseas activities in line with the Committee 5-year plan and have been able to remain within set budgets of training and competition. However, should the allocated grants decrease beyond their current allocation then it will be extremely difficult for the BLSA to run the optimum number of events with suitable PPE and maintenance equipment resulting in a reduced output for athletes.

POLICY ON RESERVES

Whilst it is not necessary to hold reserves due to the funding avenues from RAF Central Fund retaining some reserves does give an amount of flexibility. Reserves are held to support extraordinary expenditure that is not covered by RAFCF or other grants and provides a buffer for the discipline should there be additional unexpected costs.

Free reserves held at 31st December 2024 were £81,072 as represented by unrestricted net current assets.

GOING CONCERN

As stated above the track costs are increasing coupled with track availability and with a further reduction in funding there is a potential that the BLSA will be unable to support all planned events across the disciplines due to personal contributions being unachievable, particularly for Junior Ranks or those with reduced disposable income. The situation continues to be monitored and worked through to ensure maximum amount of events are held.

PRINCIPAL SOURCES OF FUNDS

The Associations principal source of funding is from the annual grant received from the RAF Central Fund, which is split down into the 4 separate disciplines. Additional funding is received from the RAF Winter Sports Association, the Nuffield Trust and personal contributions from the athletes.

Sponsorship has proven difficult to source due the lack of ability to allow sponsors first hand exposures to the sports. A Sponsorship Manager is being established in 2025.

INVESTMENT POLICY

There is no set policy as equipment is used until end of life and is replaced as required.

6

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024

PRINCIPAL RISKS FACING THE CHARITY

The key risks facing the charity are as follows:

This is because the majority of events are required to be carried out abroad due to the lack of ice and snow facilities in the UK. Furthermore, the vast majority of kit and equipment is sourced from Europe, America and Canada due to a limited amount of UK based suppliers.

TRUSTEES' RESPONSIBILITIES

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

29 Oct 25 Date …………………………………………. Signature………………………………………………………………

KATIE ISAACS PRINT NAME…………………………………………………………..

7

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME
Donations and Legacies
3a
Charitable Activities
3b
Other Trading Activities
3c
TOTAL
EXPENDITURE
Expenditure on:
Raising Funds
4a
Charitable Activities
4b
TOTAL
NET INCOME/(EXPENDITURE) BEFORE
INVESTMENT GAINS/(LOSSES)
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets
for the CIO's own use
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD
Income and Endowments from:		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
-
96,468
96,468
101,853
55,011
-
55,011
53,697
-
-
-
-
55,011
96,468
151,479
155,550
-
-
-
-
38,285
109,502
147,787
162,780
38,285
109,502
147,787
162,780
16,726
(13,034)
3,692
(7,230)
-
-
-
-
16,726
(13,034)
3,692
(7,230)
3,747
(3,747)
-
-
-
-
-
-
20,473
(16,781)
3,692
(7,230)
81,317
73,037
154,354
161,584
101,790
56,256
158,046
154,354

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 10 to 15 form part of these financial statements.

8

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed Assets
Tangible assets
2
Current Assets
Stocks
Debtors
6
Cash at bank and in hand
7
Total Current Assets
Creditors:
8
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
Creditors:
9
NET ASSETS
Funds of the CIO
General Funds
Restricted Funds
10
Total Funds
amounts falling due within one
year
amounts falling due in more
than one year		 Unrestricted
Restricted
31-Dec-24
31-Dec-23
Funds
Funds
Total
Total
£
£
£
£
20,718
56,256
76,974
90,064
-
-
-
-
29,998
11,700
41,698
48,269
64,574
(11,438)
53,136
31,335
94,572
262
94,834
79,604
13,500
262
13,762
15,314
81,072
-
81,072
64,290
101,790
56,256
158,046
154,354
-
-
-
-
101,790
56,256
158,046
154,354
101,790
-
101,790
81,317
-
56,256
56,256
73,037
101,790
56,256
158,046
154,354

Signed on behalf of all the trustees

Signature

Print Name KATIE ISAACS

Date of approval 29 Oct 25

9

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Basis of preparation

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The CIO constitutes a public benefit entity as defined by FRS 102.

Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period.

Material prior period errors

No material prior year error have been identified in the reporting period.

1. ACCOUNTING POLICIES

The particular accounting policies adopted are set out below.

INCOME

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

Contractual Income and Performance Related Grants

This is only included in the SoFA once the CIO has provided the related goods or services or met the performance related conditions.

Gifts in Kind

Gifts in kind for use by the CIO are included in the SoFA as income from donations when receivable.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.

Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Insurance claims

Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.

Income from membership subscriptions

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

10

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES (continued)

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the CIO to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Grants with Performance Conditions

Where the CIO gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

Where there are no conditions attaching to the grant that enables the donor CIO to realistically avoid the commitment, a liability for the full funding obligation must be recognised.

Deferred income

No material item of deferred income has been included in the accounts.

Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the CIO. Subsequently, they are measured at the cash or other consideration expected to be received.

Fixed Assets

These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or, if gifted, at the value to the CIO on receipt.

Depreciation Expense

Depreciation on tangible fixed assets is calculated at a rate to write off their cost on a straight line basis over their estimated useful lives. The rates applied per annum are as follows:

Bobsleigh
10% - 20%
20%
20%
Skeleton
20%
2. TANGIBLE FIXED ASSETS
EQUIPMENT
Cost
01-Jan-24
Additions
Transfers
Disposals
Cost at
31-Dec-24
Depreciation
01-Jan-24
Charge
Disposals
Depreciation at
31-Dec-24
Net Book Value
31-Dec-24
Net Book Value
31-Dec-23
Olympic Luge
Natural Luge		 Unrestricted
Restricted
TOTAL
£
£
£
28,379
206,619
234,998
2,782
3,747
6,529
3,747
(3,747)
-
-
-
34,908
206,619
241,527
11,352
133,582
144,934
2,838
16,781
19,619
-
-
-
14,190
150,363
164,553
20,718
56,256
76,974
17,027
73,037
90,064

Tangible fixed assets purchased from restricted grants are held in restricted funds until they are fully depreciated.

There were no annual commitments under non-cancelling operating leases and capital commitments.

11

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

3. ANALYSIS OF INCOME
a) Donations and Legacies
Grants
b) Charitable Activities
Income from Charitable Activities:
Inter Service Championships
RAF Championships
Personal Contributions
c) Other Trading Activities
Sale of clothing and equipment		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
-
96,468
96,468
101,853
-
96,468
96,468
101,853
38,218
-
38,218
20,127
2,100
-
2,100
-
14,693
-
14,693
33,570
55,011
-
55,011
53,697
-
-
-
-
-
-
-
-

12

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

4. ANALYSIS OF EXPENDITURE

a) Raising Funds
b) Charitable Activities
Expenditure on Charitable Activities:
Kit & Equipment
Overseas Visits
Accommodation
RAF Championships
Inter Services Championships
Operating Costs * (Note 5)
New Member Engagement
Depreciation
Training Camp
Other		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
-
-
-
-
3,290
18,921
22,211
23,788
-
-
-
-
17,697
20,062
37,759
17,650
91
841
932
26,301
-
34,954
34,954
36,283
14,369
14,638
29,007
26,578
-
-
-
3,776
2,838
16,781
19,619
28,120
-
3,305
3,305
282
-
-
-
2
38,285
109,502
147,787
162,780

5. FURTHER DETAIL OF CERTAIN EXPENDITURE CATEGORIES

Included in Operating Costs:
Coaching
Independent examiner’s fees
Insurance
Medals and Trophies
Repairs and Maintenance
Miscellaneous
Laundry and Cleaning
Entrance Fees
Hire costs
Printing, Postage and Stationery		 TOTAL
TOTAL
2024
2023
£
£
869
4,316
1,260
1,074
750
7,494
307
304
-
13,390
82
-
150
-
878
-
23,342
-
1,369
-
29,007
26,578

13

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

6. DEBTORS AND PREPAYMENTS Unrestricted Restricted Total Total
Fund Fund 31-Dec-24 31-Dec-23
£ £ £ £
Debtors 4,682 - 4,682 12,425
Prepayments 20,470 - 20,470 34,954
Accrued Income 4,846 11,700 16,546 890
29,998 11,700 41,698 48,269
7. CASH AT BANK AND IN HAND Unrestricted Restricted Total Total
Cash at bank and on hand Fund
£
64,574		 Fund
£
(11,438)		 31-Dec-24
£
53,136		 31-Dec-23
£
31,335
Total 64,574 (11,438) 53,136 31,335
8. CREDITORS AND ACCRUALS: AMOUNTS FALLING
DUE WITHIN ONE YEAR Unrestricted Restricted Total Total
Creditors Fund
£
12,210		 Fund
£
262		 31-Dec-24
£
12,472		 31-Dec-23
£
230
Accrual - Independent Examination 1,290 - 1,290 1,074
Accruals - Grant to be Returned - - - 14,010
13,500 262 13,762 15,314
9. CREDITORS AND ACCRUALS: AMOUNTS FALLING
DUE IN MORE THAN ONE YEAR Unrestricted Restricted Total Total
Creditors Fund
£
-		 Fund
£
-		 31-Dec-24
£
-		 31-Dec-23
£
-
Accruals - - - -
- - - -
10. RESTRICTED FUNDS CURRENT REPORTING PERIOD
RAF Central Fund Balance
01-Jan-24
£
-		 Income
£
84,768		 Expenditure
£
(81,021)		 Transfers
£
(3,747)		 Balance
31-Dec-24
£
-
DRS Grant - 11,700 (11,700) - -
BLS Depn Fund 71,114 - (16,126) - 54,988
Natural Luge Depn Fund 1,923 - (655) - 1,268
73,037 96,468 (109,502) (3,747) 56,256
PRIOR REPORTING PERIOD
RAF Central Fund Balance
01-Jan-23
£
14,010		 Income
£
90,153		 Expenditure
£
(99,243)		 Transfers
£
(4,920)		 Balance
31-Dec-23
£
-
BLS Depn Fund 91,951 - (24,226) 3,389 71,114
Natural Luge Depn Fund 1,448 - (1,056) 1,531 1,923
107,409 90,153 (124,525) - 73,037

14

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

10. RESTRICTED FUNDS (continued)

The Central Fund Grant is to be used for operating costs, kit and equipment, overseas visits and development activities. The transfer represents fixed assets purchased and added to the fixed asset register.

The DRS Grant is to be used for Piste Hire.

The BLS and Natural Luge funds are to be used to depreciate the fixed assets.

Restricted Funds are represented by:

Fixed Assets
Cash at Bank
Debtors and Prepayments
Creditors and Accruals		 31-Dec-24
£
56,256
(11,438)
11,700
(262)
56,256		 31-Dec-23
£
73,037
14,010
-
(14,010)
73,037

11. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES

Three trustees were reimbursed for charitable purchases they had paid personally. These reimbursements totalled £20,556.99 and covered purchases such as member accommodation and equipment. No other payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

12. RISK ASSESSMENT

The trustees actively review the major risks which the CIO faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

13. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

14. PUBLIC BENEFIT

The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The trustees confirm that they have paid due regard to the CIO Commission guidance on public benefit before deciding what activities the CIO should undertake.

15

ROYAL AIR FORCE BOBSLEIGH, LUGE & SKELETON ASSOCIATION

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the trustees on my examination of the accounts of the Royal Air Force Bobsleigh, Luge and Skeleton Association Charitable Incorporated Organisation ("the CIO") for the year ended 31st December 2024.

As the CIO's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

Responsibilities and basis of report

I report in respect of my examination of the CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

J Irvinesmith FCIE

Date: 30 October 2025

Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG

16

The Board of Trustees Royal Air Force Bobsleigh, Luge & Skeleton Association Room 43, Kermode Hall RAF Halton Aylesbury Buckinghamshire HP22 5PG

30th October 2025

Dear Trustees,

I am pleased to say that we have completed the independent examination for the RAF Bobsleigh, Luge & Skeleton Association for the year ended 31[st] December 2024.

No matters of material significance were identified, and an unqualified report has been issued.

This letter has been drafted solely to report to you as the Board of Trustees, matters in relation to the examination.

It has not been drafted with any third party in mind and thus must not be disclosed to a third party, or quoted, or referred to, without the written consent of Independent Examiners Ltd. We do not accept responsibility to any third party in respect of our review or this Report.

Financial Controls

It is important to regularly review internal controls to ensure they are strong and robust, and Trustees are meeting their statutory duties. You may find the CC8 internal financial controls checklist produced by the Charity Commission a useful tool to assess the efficiency of the internal controls. The Charity Commission recommend that the checklist is completed at least annually.

Trustees Meeting Minutes

You supplied us with meeting minutes from 2024 thank you.

Regular Board contact is important for good governance and oversight, and regular, well documented meetings can help to demonstrate the Trustee’s commitment to this.

Documentation retention

Please continue to endeavour to retain an invoice, receipt or other form of supporting documentation for all transactions to ensure a full and accurate paper trail. It is also good governance to retain evidence that expenditure has been authorised in accordance with the charity’s internal policy.

Tel: 01243 555611 | Email: support@iel.org.uk | Web: www.iel.org.uk Registered in England No.: 3221546 | Vat No.: 760 3163 53 Address: The Grain Store, Hills Barns, Appledram Lane South, Chichester PO20 7EG

Reimbursements

The annual accounts disclosed that £20,556.99 was reimbursed to Trustees for charitable expenditure they incurred personally and claimed back from the Association. You confirmed that when the Association is able to implement a corporate debit or credit card this practice will cease. At that time, it is important that the Association follows the Charity Commission guidance on the use of debit and credit cards, please see below:

May I take this opportunity to thank you for using the services of Independent Examiners Ltd, and if I can be of any further assistance, please do not hesitate to let me know.

Kind Regards

Mrs Jackie Irvine-Smith For and on behalf of Independent Examiners Ltd