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:
- Inflation rates in Europe.
- Exchange rates.
- Import taxes.
- Limited specialist equipment suppliers.
- Lack of track availability resulting in condensed sliding activity and inability to source accommodation at a lower rate.
- Risk of Service Personnel availability which would then increase civilian coaching costs.
- Increasing prices.
- European tracks limiting the release of free sliding time to allowing booking accommodation at a reasonable rate.
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:
- Ops Director
- Safety Manager
- Treasurer
- Secretary
- Discipline Team Managers
- Trustees
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:
- Inflation rates in Europe.
- Exchange rates.
- Import taxes.
- Limited specialist equipment suppliers.
- Lack of track availability resulting in condensed sliding activity and inability to source accommodation at a lower rate.
- Risk of Service Personnel availability which would then increase civilian coaching costs.
- Increasing prices.
- European tracks limiting the release of free sliding time to allowing booking accommodation at a
- reasonable rate.
- Lack of track availability due to increased training and competitions in the Olympic year which requires
- potential use of less commonly used tracks which incur increased costs.
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 ASSETS**less 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:
- the CIO becomes entitled to the income;
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## **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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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