# **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025** ## **CHARITABLE INCORPORATED ORGANISATION CIO NUMBER 1178920** Independent Examiners Ltd The Grain Store, Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **CONTENTS** |Pages 3 to 6|Report of the Trustees| |---|---| |Page 7|Statement of Financial Activities| |Page 8|Balance Sheet| |Pages 9 to 15|Notes to the Financial Statements| |Page 16|Independent Examiners Report to the Trustees.| 2 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **CIO NUMBER** 1178920 **DATE OF REGISTRATION** 25 June 2018 **START OF FINANCIAL YEAR** 1 January 2025 **END OF FINANCIAL YEAR** 31 December 2025 **TRUSTEES THAT SERVED DURING** Wg Cdr MS Ghataora (Trustee) Chair **THE YEAR TO 31ST DECEMBER** WO T Jones **2025** Mr GV Williams Mr A Wright Mr S Stockill Mr AF Vizoso Treasurer AOC no. 22 Group may appoint one trustee who will be Chair of the CIO. Other trustees are elected at AGM. **CORRESPONDENCE ADDRESS** RAF Microlight Flying Association No 3 Hangar The Airfield RAF Halton Aylesbury Buckinghamshire HP22 5PG **GOVERNING DOCUMENT** CIO Association Document **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 CIO 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 particular, (but not by way of limitation) in an inclusive and safe environment, through promoting, encouraging participation in and providing or assisting in the provision of facilities for Microlight Flying. 3 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **EXECUTIVE COMMITTEE** ## **Committee member name** ## **Office (if any)** ## **Dates acted if not for whole year** Air Cdre D Rowland President From 18 Oct 25 Wg Cdr MS Ghataora Chairman Air Cdr D Roland Deputy Chairman Sqn Ldr P Waters Plans & Projects Wg Cdr (Retd) AF Vizoso Treasurer Mr S Greaves Dep Treasurer Sqn Ldr J Colmey OIC Halton Microlight Club Membership Secretary Wg Cdr (Retd) S Stockill Until Dec 25 Flt Lt J West Ops & Flt Safety From 18 Oct 25 Vacant Dep Ops & Flt Safety Wg Cdr MS Ghataora Eng Member WO T Jones OIC CMC Chf Tech (Retd) D Seath Chief Flying Instructor Sgt P Orford Training Camp Member Maj A Washbrook Secretary The charity is governed by its trustees with the assistance of an executive committee appointed annually at a general meeting of members. ## **OBJECTIVES AND ACTIVITIES** Through the Halton & Cosford Microlight Clubs, the Association aims to provide 'Air Experience' flying for new recruits & those undergoing their phase 2 training. Additionally, it provides the opportunity for flying training toward the award of a Civil Aviation Authority accredited piloting qualification together, with facilities for students to sit the theory and practical examinations leading to the award of a National Private Pilot's Licence (Microlights). For qualified members, the Association provides aircraft and facilities to allow members to develop their flying skills in a controlled and suitably structured environment. The trustees have been mindful of the guidance issued by the Charities on public benefit. The Association’s policy on grant making is to support members who seek to improve their flying qualifications in a direction that will offer assistance towards meeting the aims of the Association. Typical of this approach would be the award of grants towards the costs of members training to become flying instructors. 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. ## **RELATIONSHIPS WITH ANY RELATED PARTIES** The RAF Microlight Flying Association is not linked to a wider network but operates with the consent and governance of the Royal Air Force and in accordance with its policies for sport and for safety. Similarly, the Association is not linked to the Civil Aviation Authority or the British Microlight Aircraft Association but operates in accordance with the regulations (UK Law) within the Air Navigation Order (2016 and 2022), together with rules and obligations set out by each of these organisations. ## **ACHIEVEMENTS AND PERFORMANCE** The Association's policy of maintaining financial reserves to meet its future aircraft maintenance obligations has allowed its aircraft planned maintenance programme to continue. Scheduled maintenance of the aircraft continued throughout the year. The MoD contract held by the Halton Microlight Club to provide air experience flying for new recruits to the RAF during their initial training at RAF Halton continued and during 2025, 101 air experience flights were carried out. This “not for profit” activity is heavily supported by volunteer work from association members and is priced to cover operating costs. 4 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **ACHIEVEMENTS AND PERFORMANCE (continued)** The Association aims to offset the majority of its standing costs from "fixed" income comprising membership subscriptions, aircraft syndication fees and grants. Although not completely effective, this approach allowed us to keep our aircraft fleet fully serviceable during 2025. A grant from the Nuffield Trust to support the purchase of a replacement aircraft was received in April. The remaining Team Eurostar EV 97 aircraft was sold and the order for the replacement aircraft was placed in the same month. The replacement aircraft, a Sky Ranger Ninja 600 was delivered in November 25. Further, a major refurbishment was also carried out on our C42B aircraft, giving it a new lease of life and more importantly, improved capability. At RAF Halton, once again poor weather at the beginning of the year disrupted activity and only 6 billable flying hours were carried out in the first 2 months of the year. Notwithstanding, there were 12 students actively engaged in training and during the year 1 student completed their first solo flight. Two students successfully passed their General Skills Tests for the award of a National Private Pilot's Licence (Microlights). In furtherance of the charity’s Public Benefit objectives, 2 students funded by Flying Scholarships for Disabled People completed their courses during the summer in the Association’s C42C aircraft. Sadly, a planned training camp involving crosschannel flying in France had to be abandoned because of poor weather in the UK and France. Notwithstanding the poor weather, 366 flying hours were completed in Association aircraft. Having only recently being established, RAF Cosford has flown some trainees undertaking their phase 2 training, but with the new aircraft (Nynja) going to RAF Cosford, it is expected 2026 will be far busier. ## **PERFORMANCE OF FUNDRAISING ACTIVITIES AGAINST OBJECTIVES SET** Fundraising, in the form of grants, membership subscriptions, syndication fees for aircraft pilots and hourly flying fees covered the basic costs of aircraft operation and raised sufficient funds to support the direct operating costs of the aircraft. A worrying trend of cost rises for aircraft spares and consumables continues and charges to members were kept under constant review throughout the year. ## **TRUSTEES SELECTION METHOD** Chairman appointed by The Air Officer Commanding 22 Group. Other Executive Committee members appointed at AGM. ## **POLICIES AND PROCEDURES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES** All trustees are drawn from within the membership of the Association. ## **SERIOUS INCIDENTS** There were no serious incidents requiring disclosure. ## **FINANCIAL REVIEW** The Association started the year in a strong financial position but the poor weather and airfield unserviceability that dogged the final months of 2024 continued until the end of February. At RAF Halton, only 6 hours of billable flying was carried out in the first 2 months of 2025. Things picked up slowly in Mar and Apr but it was not until May that flying rate really picked up. Throughout the year, air experience flying continued with 101 flights being carried out. In common with 2024, the year ended on a wet note with little flying being possible in December due to rain and waterlogging of the grass airfield. At the same time, the runway at RAF Cosford was under repair and flying there was not possible. In November 17.5 hours of billable flying were carried out. Notwithstanding this, the Association finished the year in a solid position with a new aircraft delivered, a major refurbishment carried out on our C42B aircraft and other aircraft servicing up to date. At the year-end, there were sufficient reserved maintenance funds to meet the needs of the fleet. 5 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **POLICY FOR HOLDING RESERVES** Free Reserves (before the merger took place) stood at £37,234 at 31st December 2025, as represented by unrestricted net current assets. If unrestricted designated funds are also included, the reserves stood at £80,004. All reserves and assets totalling £421,937 were transferred to Central Fund at the date of the merger. The Association holds reserves for the purpose of accumulating funds to meet the immediate, medium and longterm maintenance needs of its aircraft. Maintenance requirements develop over time and aircraft usage and they become progressively more onerous. Additionally, the accumulated maintenance reserves contribute to each aircraft’s replacement costs. At 31st December 2025 (pre merger), the value of the aircraft maintenance reserves stood at £45,262 (£42,770 designated funds and £2,492 restricted funds). ## **GOING CONCERN** As disclosed earlier within this report, the Trustees of the Association have determined that it is in the best interests of the charity to merge with the Royal Air Force Central Fund. As of the date of transfer the Association will no longer exist as a standalone entity but will operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund. ## **PRINCIPAL RISKS FACING THE CHARITY** The Association's principal source of funding is members’ contributions and grants in aid. The principal risk facing the Association is the forecast closure of RAF Halton in 2027. ## **TRUSTEES' RESPONSIBILITIES** The Charities Act 2011 requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the Trustees are required to: - select suitable accounting policies and apply them consistently; - make judgments and estimates that are reasonable and prudent; and - prepare financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in existence. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Association. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Date …………02 Feb 2026……………. Signature……………………………………………………………… PRINT NAME………………AF Vizoso……………………….. 6 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2025** |Notes
**INCOME:**
**Income and Endowments from:**
Donations and Legacies
3a
Charitable Activities
3b
Other Trading Activities
3c
Investments
3d
Other
3e
**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
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total Funds Brought Forward
Transfer of Assets on Merger (note 16)
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2025**
**2024**
£
£
£
**£**
**£**
3,146
3,606
85,000
91,752
26,985
10,421
21,779
-
32,200
30,239
-
-
-
-
-
-
-
-
-
-
1,065
-
-
1,065
967
**14,632**
**25,385**
**85,000**
**125,017**
**58,191**
-
-
-
-
-
10,548
25,649
27,698
63,895
46,596
**10,548**
**25,649**
**27,698**
**63,895**
**46,596**
**4,084**
**(264)**
**57,302**
**61,122**
**11,595**
-
-
-
-
-
**4,084**
**(264)**
**57,302**
**61,122**
**11,595**
59,730
270
(60,000)
-
-
**63,814**
**6**
**(2,698)**
**61,122**
**11,595**
312,861
42,764
5,190
360,815
349,220
(376,675)
(42,770)
(2,492)
(421,937)
-
**-**
**-**
**-**
**-**
**360,815**| |---|---| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as discontinuing within this CIO, however post merger, operations will continue under the RAF Central Fund. The notes on pages 9 to 15 form part of these financial statements. 7 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **BALANCE SHEET** ## **AS AT 31 DECEMBER 2025** |**Note**
**Fixed Assets**
Tangible assets
2
**Current Assets**
Stocks
Debtors
6
Cash at bank and in hand
7
**Total Current Assets**
8
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
9
**NET ASSETS**
**Funds of the CIO**
General Funds
Designated Funds
Restricted Funds
10
**Total Funds**
**Creditors:**amounts falling due
within one year
**Creditors:**amounts falling due in
more than one year|Unrestricted Designated
Restricted
**31-Dec-25 31-Dec-24**
Funds
Funds
Funds
**Total**
**Total**
£
£
£
**£**
**£**
-
-
-
-
285,000
-
-
-
-
-
-
-
-
-
2,079
-
-
-
-
75,768
**-**
**-**
**-**
**-**
**77,847**
-
-
-
-
2,032
-
-
-
-
75,815
**-**
**-**
**-**
**-**
**360,815**
-
-
-
-
**-**
**-**
**-**
**-**
**360,815**
-
-
-
-
312,861
-
-
-
42,764
-
-
-
-
5,190
**-**
**-**
**-**
**-**
**360,815**| |---|---| ## **Signed on behalf of all the trustees** Signature ............................................................ Print Name ………..AF..Vizoso…………………………………… Date of approval ….02 Feb 2026………………………………… 8 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2025** ## **Basis of preparation** The financial statements of the charity 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. As noted under the Reserves and Going Concern sections of the Trustees Report and in Note 16, the CIO has merged with the RAF Central Fund, with an effective date of 1st January 2026. This will mean that the CIO's operations will cease with Royal Air Force Microlight Flying Association CIO, but will continue to operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund. 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** ## **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 Trustees' 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. 9 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2025** ## **1. ACCOUNTING POLICIES (continued)** ## **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. ## **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. ## **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. ## **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. At present the fixed assets consist solely of five microlight aircraft. ## **Depreciation Expense** The microlight aircraft are kept in a condition where they do not lose much value year to year so the amount of depreciation is set to reduce their net book value to their insured value. Depreciation on other tangible fixed assets would be calculated at a rate to write off their cost on a straight line basis over 3 years from the month they are purchased. |**2. TANGIBLE FIXED ASSETS**
EQUIPMENT
Cost
01-Jan-25
Additions
Disposals
Transfers btw funds
Note 10
Transfer on Merger (note 16)
Cost at
31-Dec-25
Depreciation
01-Jan-25
Disposals
Transfer on Merger (note 16)
Depreciation at
31-Dec-25
Net Book Value
31-Dec-25
Net Book Value
31-Dec-24|Unrestricted Designated
Restricted
TOTAL
£
£
£
£
316,055
-
-
316,055
29,441
-
60,000
89,441
(40,000)
-
-
(40,000)
60,000
-
(60,000)
-
(365,496)
(365,496)
-
-
-
-
31,055
-
-
31,055
(5,000)
-
-
(5,000)
(26,055)
-
-
(26,055)
-
-
-
-
**-**
-
-
**-**
285,000
-
-
285,000| |---|---| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2025 : None 31st December 2024 : None 10 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** |**3. ANALYSIS OF INCOME**
**a) Donations and Legacies**
Donations and Public Funding
Nuffield Grant - Equipment
RAF CF Grant - Operating Costs
Sponsorship
**b) Charitable Activities**
Aircraft Running Income (Rental/Hire/Lease)
Coaching/Training/Pers. Contributions
Gain on Sale of Kit & Equipment
Subscriptions & Syndication Fees
Other
**c) Other Trading Activities**
**d) Investments**
**e) Other**
Bank Interest Received|Unrestricted Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2025**
**2024**
£
£
£
**£**
**£**
3,146
3,606
-
6,752
1,985
-
-
60,000
60,000
-
-
-
25,000
25,000
24,250
-
-
-
-
750
**3,146**
**3,606**
**85,000**
**91,752**
**26,985**
-
21,726
-
21,726
19,058
3,456
-
-
3,456
3,819
1,500
-
-
1,500
-
5,465
53
-
5,518
6,212
-
-
-
-
1,150
**10,421**
**21,779**
**-**
**32,200**
**30,239**
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
1,065
-
-
1,065
967
**1,065**
**-**
**-**
**1,065**
**967**| |---|---| 11 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **4. ANALYSIS OF EXPENDITURE** ||Unrestricted Designated|Unrestricted Designated|Restricted|**TOTAL**
**TOTAL**| |---|---|---|---|---| ||Funds
Funds||Funds|**2025**
**2024**| |||£
£|£|**£**
**£**| |**a) Raising Funds**||||| |Fundraising||-
-|-|-
-| |||**-**
**-**|**-**|**-**
**-**| |**b) Charitable Activities**||||| |Aircraft Running Costs||784
25,501|10,680|36,965
15,686| |Coaching & Training||5,259
148|260|5,667
3,838| |Grant to Organisations (i)||-
-|2,698|2,698
-| |Kit & Equipment||-
-|286|286
2,117| |Operating Costs (analysis below)||4,146
-|13,702|17,848
25,059| |New Member Activities (ii)||359
-|72|431
(104)| |||**10,548**
**25,649**|**27,698**|**63,895**
**46,596**| |(i) The Grant to Organisations represents an agreed contribution to decommissioning an underground fuel tank.||||| |(ii) The negative figure shown against New Member Activities represents an|||over-accrual|in the previous financial| |year.||||| |**Analysis of Operating Costs**||||| |AGM Costs||||**TOTAL**
**TOTAL**
**2025**
**2024**
**£**
**£**
98
53| |Independent Examiners Fees||||1,380
1,260| |Insurance||||13,136
19,876| |IT and Equipment||||247
282| |Other Professional Fees||||595
-| |Printing, Postage and Stationery||||5
7| |Subscriptions and Membership||||2,258
2,441| |Telephone and Internet||||129
129| |Training Camp||||-
1,011| |||||17,848
25,059| |**5. DETAILS OF CERTAIN TYPES OF EXPENDITURE**
Assurance services other than audit or independent examination
Other fees (for example: financial advice, consultancy, accountancy services) paid to the
independent examiner
Independent examiner’s fees||||**TOTAL**
**TOTAL**
**2025**
**2024**
**£**
**£**
1,380
1,260
-
-
-
-
1,380
1,260| |**6. DEBTORS AND PREPAYMENTS**|Unrestricted Designated||Restricted|**Total**
**Total**| |Prepayments|Funds
Funds
£
4,552
-||Funds
£
-|**31-Dec-25 31-Dec-24**
**£**
4,552
2,079| |Transfer on Merger (note 16)||(4,552)
-|-|(4,552)
-| |||**-**
**-**|-|**-**
**2,079**| 12 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** |**7. CASH AT BANK AND**|**IN HAND**||Unrestricted|Designated|Restricted|**Total**|**Total**| |---|---|---|---|---|---|---|---| ||||Funds|Funds|Funds|**31-Dec-25 **|**31-Dec-24**| ||||£|£|£|**£**|**£**| |Cash at bank and in hand|||32,762|42,770|2,492|78,024|75,768| |Transfer on Merger (note 16)|||(32,762)|(42,770)|(2,492)|(78,024)|-| |Total|||**-**|**-**|**-**|**-**|**75,768**| |**8.**
**CREDITORS**
**AND**|**ACCRUALS:**|**AMOUNTS**|||||| |**FALLING DUE WITHIN**|**ONE YEAR**||Unrestricted|Designated|Restricted|**Total**|**Total**| |Accrual - Independent Examination|||Funds
£
-|Funds
£
-|Funds
£
-|**31-Dec-25 **
**£**
-|**31-Dec-24**
1,260| |Accruals - other|||80|-|-|80|-| |Creditors|||-|-|-|-|772| |Transfer on Merger (note 16)|||(80)|-|-|(80)|| ||||**-**|**-**|**-**|**-**|**2,032**| |**9.**
**CREDITORS**
**AND**|**ACCRUALS:**|**AMOUNTS**|||||| |**FALLING DUE IN MORE THAN ONE**||**YEAR**|Unrestricted|Designated|Restricted|**Total**|**Total**| |Accruals|||Funds
£
-|Funds
£
-|Funds
£
-|**31-Dec-25 **
**£**
-|**31-Dec-24**
-| |Creditors|||-|-|-|-|-| ||||-|-|-|**-**|**-**| |**10. RESTRICTED FUNDS**|||**CURRENT REPORTING PERIOD**||||| |RAF Central Fund Grants||**Balance**
**01-Jan-25**
**£**
-|Income
£
25,000|Expenditure
£
(25,000)|Transfers
btw funds
£
-|Transfer on
Merger
£
-|**Balance**
**31-Dec-25**
**£**
-| |Nuffield Grant||-|60,000|-|(60,000)||-| |RAFMFA ELC Grant||5,190|-|(2,698)|-|(2,492)|-| |||**5,190**|**85,000**|**(27,698)**|**(60,000)**|**(2,492)**|**-**| ||||**PREVIOUS REPORTING PERIOD**||||| |RAF Central Fund Grants||**Balance**
**01-Jan-24**
**£**
-|Income
£
24,250|Expenditure
£
(24,250)|Transfers
btw funds
£
-|Transfer on
Merger
£
-|**Balance**
**31-Dec-24**
**£**
-| |RAFMFA ELC Grant||5,190|-|-|-|-|5,190| |||**5,190**|**24,250**|**(24,250)**|**-**|**-**|**5,190**| Central Fund Grant - to be used for operating costs, kit and equipment, overseas visits and development activities. ELC - for the provision of flying training. Expenditure that can be allocated against particular aircraft is transferred to the designated funds where the expenditure is shown. Nuffield Grant - to be used for kit and equipment. The transfers between funds represent those funds that the donor had restricted for use towards the purchase of new aircraft. The restriction was fulfilled upon purchase, allowing the asset to be transferred to general funds and used for any charitable purpose. The restricted funds are wholly represented by cash reserves of the CIO. 13 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **11. DESIGNATED FUNDS** ## **CURRENT REPORTING PERIOD** |Aircraft G-HMCA
Aircraft G-COSM
Aircraft G-HMCE
Aircraft G-HMCF
Aircraft G-HMCH
Aircraft G-CMNG
Aircraft G-HMCA
Aircraft G-HMCE
Aircraft G-HMCF
Aircraft G-HMCH
Aircraft G-CMNG|**Balance**
**Balance**
**01-Jan-25**
Income
Expenditure
Transfers
Transfer on **31-Dec-25**
btw funds
Merger
**£**
£
£
£
£
**£**
12,277
2,520
(14,445)
(352)
-
-
-
-
(622)
622
-
-
12,595
3,307
(2,452)
-
(13,450)
-
8,032
4,169
(1,855)
-
(10,346)
-
3,637
3,025
(1,897)
-
(4,765)
-
6,223
12,364
(4,378)
-
(14,209)
-
**42,764**
**25,385**
**(25,649)**
**270**
**(42,770)**
**-**
**Balance**
**Balance**
**01-Jan-24**
Income
Expenditure
Transfers
Transfer on **31-Dec-24**
btw funds
Merger
**£**
£
£
£
£
**£**
-
12,601
815
(1,139)
-
12,277
-
11,281
2,642
(1,328)
-
12,595
-
7,252
1,777
(997)
-
8,032
-
2,255
2,984
(1,602)
-
3,637
-
592
9,997
(4,366)
-
6,223
**-**
**33,981**
**18,215**
**(9,432)**
**-**
**42,764**
**PREVIOUS REPORTING PERIOD**| |---|---| ## **12. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES** One Trustee was paid an amount of £98.18 for catering provision provided to the Association in support of the AGM (2024: None). 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. ## **13. 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. ## **14. 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. ## **15. 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 Harity Commission Commission guidance on public benefit before deciding what activities the CIO should undertake. 14 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **16. TRANSFER OF ASSETS ON MERGER** RAF Microlight Flying Association merged with RAF Central Fund (charity number 1152560) at midnight between 31st December 2025 and 1st January 2026. On that date the assets and liabilities of RAF Microlight Flying Association were transferred to the RAF Central Fund and its reserves were treated as a donation to the RAF Central Fund. The transactions of RAF Microlight Flying Association since that date have been included in the Statement of Financial Activities of the RAF Central Fund. The assets transferred were as follows: |Fixed Assets at net book value
Cash at bank and in hand
Debtors
Creditors
TOTAL|31-Dec-25
£
£
£
£
Unrestricted Designated
Restricted
TOTAL
Fund
Fund
Fund
Funds
339,441
-
-
339,441
32,762
42,770
2,492
78,024
4,552
-
-
4,552
(80)
-
-
(80)
376,675
42,770
2,492
421,937| |---|---| 15 ## **ROYAL AIR FORCE MICROLIGHT FLYING ASSOCIATION** ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** I report to the trustees on my examination of the accounts of Royal Air Force Microlight Flying Association Charitable Incorporated Organisation ("the CIO") for the year ended 31st December 2025. 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”). ## **Responsibilties 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 draw attention to note 16 in the financial statements. As stated in note 16, the Trustees confirm that the Association has merged with RAF Central Fund. All assets and liabilities have now been transferred. Therefore the charity is not a going concern. I have no other 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: Name: Date: Independent Examiners Ltd The Grain Store, Hills Barns Appledram Lane South Chichester PO20 7EG 16