**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


## **The Royal Air Force Motorsports Association** 

## **Charity registration number: 1181915** 

**Principal Address: Room 43, Kermode Hall, RAF Halton, Aylesbury, HP22 5PG** 

## **Names of the charity trustees who manage the charity** 

||**Trustee name**|**Ofce (if any)**|**Dates acted if not**<br>**for whole year**|**Name of person (or body)**<br>**entitled to appoint trustee**<br>**(if any)**|
|---|---|---|---|---|
|1|Brian Watson|Chair||AOC 22 Group|
|2|Darren Berris|Deputy Chair|Resigned 15 Dec<br>22|AGM|
|3|Alex Ruck|Treasurer||AGM|
|4|Lee Maund|Membership||AGM|
|5|Chris Slator|Team Director<br>Motor Racing|Resigned 15 Dec<br>22|AGM|
|6|Brien<br>Middlebrook|Team Manager<br>Enduro &<br>Motocross|Resigned 15 Dec<br>22|AGM|



## **Executive committee if d erent from above iff** 

||**Committee**<br>**member name**|**Ofce (if any)**|**Dates acted if not for**<br>**wholeyear**|
|---|---|---|---|
|1|Alex Smith|General Secretary||
|2|Alan Winchester|SafetyManager||
|3|Will Runciman|Media and Comms||
|4|Simon Hilton|SafeguardingOfcer||
|5|David Russell|Team Manager Motor Racing||
|6|CraigTeasdale|Team Manager Rally||
|7|Phil Bruce|Deputy||
|8|Daniel<br>Southerland|Team Manager Motor Cycle Road<br>Racing||
|9|GaryLawton|Deputy||
|10|Kurt Smith|Team Manager Karting||
|11|Ben Scott|Deputy||
|12|Joshua Clegg|Team Manager Trials||
|13|David Mason|Deputy||
|14|JordanJones|Deputy||
|15|Michael Clough|Team Manager eMotorsports||



1 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


2 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


## **Objectives and Activities** 

## **Summary of the purposes of the charity as set out in its governing document (SORP Para 1.17)** 

The objects for which the Charity is established (the “Objects”) are to promote the effectiveness of Her 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 RAF Motorsports. 

## **Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts (SORP Para 1.17 & 1.19)** 

The main activities undertaken for the public benefit in relation to the above objectives are the organisation and participation in Motor Sports of the following categories:  2 Wheel Road, 2 Wheel Trial, 2 Wheel Enduro/Motocross, 4 Wheel Car Racing (Sprint & Circuit), 4 Wheel Rally and Karting. This also includes supporting activity in the form of event related officials and team members essential to the execution of motorsport. Synthetic motorsport is also delivered under the eMotorsports title. As RAF Motorsport is conducted in a majority civilian framework, we are a civilian facing high-profile RAF sports organisation. The intent of the Association is therefore to deliver a professional persona commensurate with the RAF intent and ensure that we are seen to promote RAF Core values in behaviour, performance, and brand. That intent is at the core of all the motorsport we undertake. 

## **Statement confirming whether the trustees have had regard to the** 

**guidance issued by the Charity Commission on public benefit (SORP Para 1.18)** The trustees have been mindful of the guidance issued by the Charities on public benefit. 

## **Additional information (optional)** 

## **Policy on grant making (SORP Para 1.38)** 

## **Policy on social investment including program related investment (SORP Para 1.38)** 

The Association is actively engaged in promoting those activities which align to motorsport and this, in the main, centres on Science, Technology, Engineering and Mathematics (STEM). The Defence STEM Engagement interlinks with national initiatives and is aimed at inspiring young people and demonstrating that a career in STEM, regardless of sector, is an exciting and rewarding opportunity. 

## **Contribution made by volunteers (SORP Para 1.38)** 

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. 

3 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


4 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


## **Achievements and Performance** 

**Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. (SORP Para 1.20)** 

RAF Motorsports has continued to build a professional baseline of activity, principally to encourage participation amongst service personnel. This has involved a core attendance at a number of public and service focussed events to showcase the role of the association. 

To support the recruitment and development of new members, a number of the disciplines with RAF Motorsports have developed a structure of novice training.  At this time both Motor Racing and Motor Cycle Road Racing have vehicles for use by novice competitors principally for training.  For those novices who are committed to competition, then those vehicles are then made available for use in their first season to offset the substantial costs associated with owning your own vehicle. This programme will expand to Rally for 2023, with karting already having a model that provides access to competition for new members via station kart teams. 

Whilst e-motorsports has yet to be officially recognised by RAF Sport, RAF Motorsports has interwoven the synthetic environment into the training programme, seeing tangible benefit from exposing someone to a race circuit before then putting them in one of the development cars. The reduction in track time required in the live environment to learn the circuit and the basics of racing technique, was significant, showing just how beneficial the synthetic preparation can be. 

## **Additional information (optional)** 

**Achievements against objectives set (SORP Para 1.41)** 

**Performance of fundraising activities against objectives set (SORP Para 1.41)** 

RAF Motorsports has not traditionally had a major sponsorship base and we have worked hard to understand what our USP is and, how we can attract sponsors to enrich the sporting opportunities for RAF personnel. Our continuing synergy with STEM has ensured support from RAF Profession Advisors which have continued to generate mutual benefit. 

We have continued to use every opportunity to showcase the association and develop our portfolio. 

We continue to research opportunities for sponsorship and the quality of key competitors has attracted sponsor interest and we have been successful in lowerlevel engagement in certain areas such as the Motorcycle Side-car team and some initiatives in the car racing team. The aim will be to build across all sporting areas, the sponsor opportunities. 

**Investment performance against objectives (SORP Para 1.41)** 

Not applicable 

5 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


**Other** 

6 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


## **Structure, Governance and Management** 

## **Type of governing document (SORP Para 1.25)** 

Constitution 

## **How is the charity constituted? (SORP Para 1.25)** 

CIO 

**Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees (SORP Para 1.25)** 

Chair appointed by The Air Officer Commanding Number 22 (Training) Group. Other Executive Committee members appointed at AGM. 

## **Additional information (optional)** 

## **Policies and procedures adopted for the induction and training of trustees (SORP Para 1.51)** 

Trustees are all provided with direction to the Charity Commission information relating to the position. 

**The charity’s organisational structure and any wider network with which the charity works (SORP Para 1.51)** 

RAF Motorsports operates under the direction of HQ 22 Gp and the Directorate of RAF Sport. The association operates with the support of the RAF Central Fund and the RAF Sports Federation. 

## **Relationship with any related parties (SORP Para 1.51)** 

The principal relationship of RAF Motorsports is with the RAF Sports Federation on matters of a CIO nature 

## **Other** 

**For the period of this return were there any serious incidents that the charity failed to report to the Charity Commission? (e.g. theft, safeguarding issues, serious injury / death)** 

A member of the Motor Cycle Road Racing team suffered a fatality at Cadwell Park in May 22 during an event. This accident is the subject of a Service Inquiry which will not output any findings until 2023. 

7 



**Trustees’ Annual Report for the period 1[st] January 2022 to 31[st] December 2022** 


## **Declarations** 

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

## **Signed on behalf of the charity’s trustees** 

|Signature|||
|---|---|---|
|Full Name|Darren Berris||
|Position|Deputy Chair||
|Date|29 Aug 23||



8 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **CHARITABLE INCORPORATED ORGANISATION CIO NUMBER 1181915** 

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

||**CONTENTS**|
|---|---|
|Pages 3 to 5|Report of the Trustees|
|Page 6|Statement of Financial Activities|
|Page 7|Balance Sheet|
|Pages 8 to 13|Notes to the Financial Statements|
|Page 14|Independent Examiners Report to the Trustees.|



2 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

**LEGAL STATUS** Charitable Incorporated Organisation (no. 1181915) **START OF FINANCIAL PERIOD** 1st January 2022 **END OF FINANCIAL PERIOD** 31st December 2022 **TRUSTEES THAT SERVED DURING** Brian Watson (chair) **FINANCIAL YEAR END 31ST DECEMBER** Darren Berris (resigned 15th December 2022) **2022** Alex Ruck Lee Maund Chris Slator (resigned 15th December 2022) Brien Middlebrook (resigned 15th December 2022) The Chair is appointed by AOC 22 Group.  All other trustees are appointed by election at AGM. 

**CORRESPONDENCE ADDRESS** Room 43 Kermode Hall RAF Halton Aylesbury Bucks HP22 5PG **GOVERNING DOCUMENT** CIO Association registered 7th February 2019 **BANKERS** Royal Bank of Scotland Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP **INDEPENDENT EXAMINER** J Irvine-Smith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF 

## **OBJECTS** 

The objects for which the Charity is established (the “Objects”) are to promote the effectiveness of Her 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 RAF Motorsports. 

3 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **EXECUTIVE COMMITTEE** 

**Committee member name Office (if any) Dates acted if not for whole year** Alex Smith General Secretary Alan Winchester Safety Manager Will Runciman Media and Comms Simon Hilton Safeguarding Officer David Russell Team Manager Motor Racing Craig Teasdale Team Manager Rally Phil Bruce Deputy Daniel Southerland Team Manager Motor Cycle Road Racing Gary Lawton Deputy Kurt Smith Team Manager Karting Ben Scott Deputy Joshua Clegg Team Manager Trials David Mason Deputy Jordan Jones Deputy Michael Clough Team Manager eMotorsports 

## **ACTIVITIES** 

The main activities undertaken for the public benefit in relation to the above objectives are the organisation and participation in Motor Sports of the following categories: 2 Wheel Road, 2 Wheel Trial, 2 Wheel Enduro/Motocross, 4 Wheel Car Racing (Sprint & Circuit), 4 Wheel Rally and Karting. This also includes activity related to e-motorsports. As RAF Motorsport is conducted in a majority civilian framework, we are a civilian facing high-profile RAF sports organisation. The intent of the Association is therefore to deliver a professional persona commensurate with the RAF intent and ensure that we are seen to promote RAF Core values in behaviour, performance, and brand. That intent is at the core of all the motorsport we undertake. 

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

The Association is actively engaged in promoting those activities which align to motorsport and this, in the main, centres on Science, Technology, Engineering and Mathematics (STEM). The Defence STEM Engagement interlinks with national initiatives and is aimed at inspiring young people and demonstrating that a career in STEM, regardless of sector, is an exciting and rewarding opportunity. 

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. 

## **ACHIEVEMENTS AND PERFORMANCE** 

RAF Motorsports has continued to build a professional baseline of activity, principally to encourage participation amongst service personnel. This has involved a core attendance at a number of public and service focussed events to showcase the role of the association. 

To support the recruitment and development of new members, a number of the disciplines with RAF Motorsports have developed a structure of novice training. At this time both Motor Racing and Motor Cycle Road Racing have vehicles for use by novice competitors principally for training. For those novices who are committed to competition, then those vehicles are then made available for use in their first season to offset the substantial costs associated with owning your own vehicle. This programme will expand to Rally for 2023, with karting already having a model that provides access to competition for new members via station kart teams. 

4 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **ACHIEVEMENTS AND PERFORMANCE (continued)** 

Whilst e-motorsports has yet to be officially recognised by RAF Sport, RAF Motorsports has interwoven the synthetic environrnent into the training programme, seeing tangible benefit from exposing someone to a race circuit before then putting them in one of the development cars. The reduction in track time required in the live environment to learn the circuit and the basics of racing tec�nique, was significant, showing just how beneficial the synthetic preparation can be. 

## **ACHIEVEMENTS AGAINST OBJECTIVES SET** 

RAF Motorsports has not traditionally had a major sponsorship base and we have worked hard to understand what our USP is and, how we can attract sponsors to enrich the sporting opportunities for RAF personnel. Our continuing synergy with STEM has ensured support from RAF Profession Advisors which have continued to qenerate mutual benefit. 

We have continued to use every opportunity to showcase the association and develop our portfolio. 

We continue to research opportunities for sponsorship and the quality of key .competitors has attracted sponsor interest and we have been successful in lower-level engagement in certain areas such as the Motorcycle Side-car team and some initiatives in the car racing team. The aim will be to build across all sporting areas, the sponsor opportunities. 

## **FINANCIAL REVIEW** 

**At** the end of the year, reserves held in the General Fund, other than that reserved for depreciation, amounted to approx £15K. 

Reserves are held to preserve the operation of the charity in the event that financial commitment from supporting organisation (RAF Central Fund) is disrupted, withdrawn or reduced. The reserves also form a contingency in the event of unforeseen emergent costs that can't be funded from in-year allocations. 

RAF Central Fund remains the principal source of charitable funding. 

## **TRUSTEES AND GOVERNANCE** 

The Chair is appointed by AOC 22 Group. Ali other trustees are appointed by election at **AGM.** 

Trustees are all provided with direction to the Charity Commission information relating to the position. 

RAF Motorsports operates under the direction of H[Q ] 22 Gp and the Directorate of RAF Sport. The association operates with the support of the RAF Central Fund and the RAF Sports Federation. 

The principal relationship of RAF Motorsports is with the RAF Sports Federation on matters of a ,CIO nature. 

## **SERIOUS INCIDENT** 

A member of the Motor Cycle Road Racing team suffered a fatality at Cadwell Park in May 22 during an event. This accident is the sub[j] ect of a Service In[q] ui[ry ] which will not output any findings until 2023. 

## **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. 

Date _**.. .J/..afr[.] .1-.5. .................. ..**_ 

Signature ..... ��············ ........................... . PRINT NAME .............. . /S!l.c.k ........................ . d.U.t 

_**5**_ 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022** 

|Incorporating income and expenditure account|Incorporating income and expenditure account|Incorporating income and expenditure account||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Designated|Restricted|**TOTAL**|**TOTAL**|
||Notes||Funds|Funds|Funds|**2022**|**2021**|
||||£|£|£|**£**|**£**|
|**INCOMING RESOURCES**||||||||
|**Income and Endowments from:**||||||||
|Donations and Legacies||3a|8,000|8,000|101,853|117,853|78,256|
|Charitable Activities||3b|4,740|12,400|-|17,140|7,930|
|Other Trading Activities||3c|16,167|600|24,401|41,168|4,000|
|Investments||3d|-|-|-|-|-|
|Other||3e|-|-|-|-|-|
|**TOTAL**|||**28,907**|**21,000**|**126,254**|**176,161**|**90,186**|
|**RESOURCES EXPENDED**||||||||
|**Expenditure on:**||||||||
|Raising Funds||4a|-|-|-|-|-|
|Charitable Activities||4b|35,579|16,506|100,176|152,261|86,821|
|Other||4c|-|-|-|-|-|
|**TOTAL**|||**35,579**|**16,506**|**100,176**|**152,261**|**86,821**|
|||||||||
|**NET INCOME/(EXPENDITURE) BEFORE**|||**(6,672)**|**4,494**|**26,078**|**23,900**|**3,365**|
|**INVESTMENT GAINS/(LOSSES)**||||||||
|Net gains/(losses) on investments|||**-**|**-**|**-**|**-**|**-**|
|**NET INCOME/(EXPENDITURE)**|||**(6,672)**|**4,494**|**26,078**|**23,900**|**3,365**|
|Transfers between funds|||27,595|(1,517)|(26,078)|-|-|
|**Other recognised gains/(losses):**||||||||
|Gains<br>and<br>losses<br>on<br>revaluation|of|fixed|-|-|-|-|-|
|assets for the CIO's own use||||||||
|**NET MOVEMENT IN FUNDS**|||**20,923**|**2,977**|**-**|**23,900**|**3,365**|
|**RECONCILIATION OF FUNDS:**||||||||
|Total Funds Brought Forward|||28,022|8,399|-|36,421|33,056|
|**TOTAL FUNDS CARRIED FORWARD**|||**48,945**|**11,376**|**-**|**60,321**|**36,421**|



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 8 to 13 form part of these financial statements. 

6 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **BALANCE SHEET AS AT 31ST DECEMBER 2022** 

|**Fixed Assets**<br>Tangible assets<br>**Current Assets**<br>Stocks<br>Debtors<br>Cash at bank and in hand<br>**Total Current Assets**<br>**Creditors:**amounts falling due within one<br>year<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS**less current liabilities<br>**Creditors:**amounts falling due in more than<br>one year<br>**NET ASSETS**<br>**Funds of the CIO**<br>General Funds<br>General Funds - Depreciation Provision<br>Restricted Funds<br>Designated Funds<br>**Total Funds**<br>**Note**<br>2<br>6<br>7<br>8<br>9<br>10<br>11<br>12|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|
|---|---|---|---|---|
|||**35,333**<br>7,149<br>28,184<br>**600**<br>600|**35,933**<br>7,749<br>28,184|**43,320**<br>12,317<br>31,003|
|||**60,321**<br>**60,321**<br>14,777<br>34,168<br>11,376<br>**60,32**|**60,321**<br>**60,321**<br>14,777<br>34,168<br>11,376<br>**60,321**|**36,421**<br>**36,421**<br>22,604<br>5,418<br>8,399<br>**36,421**|



## **Sig!"ed on behalf of all the trust�es** 

Signature Print Name Date of approval _**/1**_ (}C,f' _**!J**_ 

7 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **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. 

The Trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO. 

## **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. 

8 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **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. 

## **2. TANGIBLE 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 on tangible fixed assets is calculated at a rate to write off their cost on a straight line basis over their estimated useful lives. 

|Cost<br>01-Jan-22<br>Additions<br>Disposals<br>Transfer<br>Cost at<br>31-Dec-22<br>Depreciation<br>01-Jan-22<br>Charge<br>On Disposals<br>Depreciation at<br>31-Dec-22<br>Net Book Value<br>31-Dec-22<br>Net Book Value<br>31-Dec-21|Unrestricted<br>Restricted<br>Total<br>£<br>£<br>£<br>49,066<br>-<br>49,066<br>11,879<br>26,078<br>37,957<br>(3,500)<br>-<br>(3,500)<br>26,078<br>(26,078)<br>-<br>83,523<br>-<br>83,523<br>43,648<br>-<br>43,648<br>8,905<br>-<br>8,905<br>(1,167)<br>(1,167)<br>51,386<br>-<br>51,386<br>**32,137**<br>**-**<br>**32,137**<br>5,418<br>-<br>5,418|
|---|---|



The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022 : None 

31st December 2021 : None 

9 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

|**3. ANALYSIS OF INCOME**<br>**a) Donations and Legacies**<br>Grants<br>Donations<br>**b)  Charitable Activities**<br>Membership Subscriptions<br>Equipment Hire<br>**c) Other Trading Activities**<br>Sponsorship<br>Sale of Clothing<br>Gain on Sale of Fixed Assets<br>**d) Investments**<br>**e) Other**<br>Personal Contributions for<br>Equipment and Clothing|Unrestricted<br>Designated<br>Restricted<br>**TOTAL**<br>**TOTAL**<br>Funds<br>Funds<br>Funds<br>**2022**<br>**2021**<br>£<br>£<br>£<br>**£**<br>**£**<br>8,000<br>7,000<br>101,853<br>116,853<br>76,456<br>-<br>1,000<br>-<br>1,000<br>1,800<br>**8,000**<br>**8,000**<br>**101,853**<br>**117,853**<br>**78,256**<br>4,400<br>-<br>-<br>4,400<br>3,990<br>340<br>-<br>-<br>340<br>400<br>-<br>12,400<br>-<br>12,400<br>3,540<br>**4,740**<br>**12,400**<br>**-**<br>**17,140**<br>**7,930**<br>15,000<br>-<br>24,401<br>39,401<br>4,000<br>-<br>600<br>-<br>600<br>-<br>1,167<br>-<br>-<br>1,167<br>-<br>**16,167**<br>**600**<br>**24,401**<br>**41,168**<br>**4,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|
|---|---|



10 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **4. ANALYSIS OF EXPENDITURE** 

||Unrestricted|Unrestricted|Designated|Restricted|**TOTAL**|**TOTAL**|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|**2022**|**2021**|
|||£|£|£|**£**|**£**|
|**a) Raising Funds**|||||||
|||**-**|**-**|**-**|**-**|**-**|
|**b) Charitable Activities**|||||||
|Clothing and Equipment||19,794|10,494|49,194|79,482|38,402|
|Training Camps||-|-|4,196|4,196|5,400|
|Marketing, Advertising & Website||-|-|-|-|2,550|
|Entrance Fees||2,170|1,845|21,364|25,379|21,672|
|Other Operating Costs||2,710|4,167|7,547|14,424|10,522|
|Depreciation||8,905|-|-|8,905|4,357|
|RAF Championships||-|-|-|-|3,918|
|New Member Engagement||2,000|-|17,875|19,875|-|
|||**35,579**|**16,506**|**100,176**|**152,261**|**86,821**|
|**c) Other**|||||||
|||**-**|**-**|**-**|**-**|**-**|
|**5. DETAILS OF CERTAIN TYPES OF EXPENDITURE**<br>Assurance services other than audit or independent examination<br>Independent examiner’s fees<br>Other fees (for example: financial advice, consultancy, accountancy services) paid to<br>the independent examiner<br>Tax advisory fees|||||**TOTAL**<br>**2022**<br>**£**<br>1,080<br>-<br>-<br>-<br>**1,080**|**TOTAL**<br>**2021**<br>**£**<br>1,080<br>-<br>-<br>-<br>**1,080**|
|**6. STOCKS**|||||||
|The CIO held no stock at the end of the|period.||||||
|**7. DEBTORS AND PREPAYMENTS**|||Unrestricted|Restricted|**31-Dec-22**|**31-Dec-21**|
|Debtors|||Funds<br>£<br>1,324|Funds<br>£<br>-|**Total**<br>**£**<br>1,324|**Total**<br>**£**<br>2,525|
|Prepayments|||370|-|370|-|
||||**1,694**|-|**1,694**|**2,525**|
|**8. CASH AT BANK AND IN HAND**|||Unrestricted|Restricted|**31-Dec-22**|**31-Dec-21**|
|Cash at bank and on hand|||Funds<br>£<br>33,639|Funds<br>£<br>600|**Total**<br>**£**<br>34,239|**Total**<br>**£**<br>40,795|
|Total|||**33,639**|**600**|**34,239**|**40,795**|



11 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

|**9. CREDITORS AND ACCRUALS:**||Unrestricted|Restricted|**31-Dec-22**|**31-Dec-21**|
|---|---|---|---|---|---|
|**AMOUNTS FALLING DUE WITHIN ONE**||Funds|Funds|**Total**|**Total**|
|||£|£|**£**|**£**|
|Creditors||6,009|-|6,009|10,577|
|Accrual - Independent Examination||1,080|-|1,080|1,080|
|Other Accruals and Deferred Income||60|600|660|660|
|||**7,149**|**600**|**7,749**|**12,317**|
|Creditors<br>Accruals<br>**10. CREDITORS AND ACCRUALS: AMOUNTS **<br>**DUE IN MORE THAN ONE YEAR**|**FALLING**|Unrestricted<br>Funds<br>£<br>-<br>-|Restricted<br>Funds<br>£<br>-<br>-|**31-Dec-22**<br>**Total**<br>**£**<br>-<br>-|**31-Dec-21**<br>**Total**<br>**£**<br>-<br>-|
|||**-**|**-**|**-**|**-**|
|**11. RESTRICTED FUNDS**||CURRENT REPORTING||PERIOD||
|RAF Central Fund|Balance<br>01-Jan-22<br>£<br>-|Income<br>£<br>126,254|Expenditure<br>£<br>(100,176)|Transfers<br>£<br>(26,078)|**Balance**<br>**31-Dec-22**<br>£<br>-|
||**-**|**126,254**|**(100,176)**|**(26,078)**|**-**|
|||PRIOR|REPORTING PERIOD|||
|RAF Central Fund|Balance<br>01-Jan-21<br>£<br>-|Income<br>£<br>76,456|Expenditure<br>£<br>(73,503)|Transfers<br>£<br>(2,953)|**Balance**<br>**31-Dec-21**<br>£<br>-|
||**-**|**76,456**|**(73,503)**|**(2,953)**|**-**|



Central Fund Grant - to be used for operating costs, kit and equipment, overseas visits and development activities. 

The transfers to general fund are for equipment purchased and transferred to fixed assets. 

The restricted funds are wholly represented by cash reserves of the charity. 

## **12. DESIGNATED FUNDS** 

|Ardua/Enduro Training Fund<br>Driver Development/Training Fund<br>Ardua/Enduro Training Fund<br>Driver Development/Training Fund|Balance<br>**Balance**<br>01-Jan-22<br>Income<br>Expenditure<br>Transfers<br>**31-Dec-22**<br>£<br>£<br>£<br>£<br>£<br>2,686<br>-<br>-<br>(2,686)<br>-<br>5,713<br>21,000<br>(16,506)<br>1,169<br>11,376<br>**8,399**<br>**21,000**<br>**(16,506)**<br>**(1,517)**<br>**11,376**<br>Balance<br>**Balance**<br>01-Jan-21<br>Income<br>Expenditure<br>Transfers*<br>**31-Dec-21**<br>£<br>£<br>£<br>£<br>£<br>2,686<br>-<br>-<br>-<br>2,686<br>1,517<br>5,740<br>2,544<br>1,000<br>5,713<br>**4,203**<br>**5,740**<br>**2,544**<br>**1,000**<br>**8,399**<br>CURRENT REPORTING PERIOD<br>PRIOR REPORTING PERIOD|
|---|---|



*Transfer from excepted charity. 

12 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **13. STAFF COSTS** 

The CIO had no paid staff during the period. 

## **14. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES** 

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the CIO and a trustee or any person connected with them. 

## **15. 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. 

## **16. RESERVES POLICY** 

The trustees have considered the level of reserves they wish to retain, appropriate to the charity'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. 

## **17. 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 Charity Commission guidance on public benefit before deciding what activities the CIO should undertake. 

13 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** 

I report to the trustees on my examination of the accounts of The Royal Air Force Motorsports Association Charitable Incorporated Organisation (the CIO) for the year ended 31 December 2022. 

As the charity'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 charity'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: 

Name: J Irvinesmith FCIE 

Date: 20th October 2023 

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF 

14 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **CHARITABLE INCORPORATED ORGANISATION CIO NUMBER 1181915** 

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

||**CONTENTS**|
|---|---|
|Pages 3 to 5|Report of the Trustees|
|Page 6|Statement of Financial Activities|
|Page 7|Balance Sheet|
|Pages 8 to 13|Notes to the Financial Statements|
|Page 14|Independent Examiners Report to the Trustees.|



2 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

**LEGAL STATUS** Charitable Incorporated Organisation (no. 1181915) **START OF FINANCIAL PERIOD** 1st January 2022 **END OF FINANCIAL PERIOD** 31st December 2022 **TRUSTEES THAT SERVED DURING** Brian Watson (chair) **FINANCIAL YEAR END 31ST DECEMBER** Darren Berris (resigned 15th December 2022) **2022** Alex Ruck Lee Maund Chris Slator (resigned 15th December 2022) Brien Middlebrook (resigned 15th December 2022) The Chair is appointed by AOC 22 Group.  All other trustees are appointed by election at AGM. 

**CORRESPONDENCE ADDRESS** Room 43 Kermode Hall RAF Halton Aylesbury Bucks HP22 5PG **GOVERNING DOCUMENT** CIO Association registered 7th February 2019 **BANKERS** Royal Bank of Scotland Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP **INDEPENDENT EXAMINER** J Irvine-Smith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF 

## **OBJECTS** 

The objects for which the Charity is established (the “Objects”) are to promote the effectiveness of Her 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 RAF Motorsports. 

3 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **EXECUTIVE COMMITTEE** 

**Committee member name Office (if any) Dates acted if not for whole year** Alex Smith General Secretary Alan Winchester Safety Manager Will Runciman Media and Comms Simon Hilton Safeguarding Officer David Russell Team Manager Motor Racing Craig Teasdale Team Manager Rally Phil Bruce Deputy Daniel Southerland Team Manager Motor Cycle Road Racing Gary Lawton Deputy Kurt Smith Team Manager Karting Ben Scott Deputy Joshua Clegg Team Manager Trials David Mason Deputy Jordan Jones Deputy Michael Clough Team Manager eMotorsports 

## **ACTIVITIES** 

The main activities undertaken for the public benefit in relation to the above objectives are the organisation and participation in Motor Sports of the following categories: 2 Wheel Road, 2 Wheel Trial, 2 Wheel Enduro/Motocross, 4 Wheel Car Racing (Sprint & Circuit), 4 Wheel Rally and Karting. This also includes activity related to e-motorsports. As RAF Motorsport is conducted in a majority civilian framework, we are a civilian facing high-profile RAF sports organisation. The intent of the Association is therefore to deliver a professional persona commensurate with the RAF intent and ensure that we are seen to promote RAF Core values in behaviour, performance, and brand. That intent is at the core of all the motorsport we undertake. 

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

The Association is actively engaged in promoting those activities which align to motorsport and this, in the main, centres on Science, Technology, Engineering and Mathematics (STEM). The Defence STEM Engagement interlinks with national initiatives and is aimed at inspiring young people and demonstrating that a career in STEM, regardless of sector, is an exciting and rewarding opportunity. 

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. 

## **ACHIEVEMENTS AND PERFORMANCE** 

RAF Motorsports has continued to build a professional baseline of activity, principally to encourage participation amongst service personnel. This has involved a core attendance at a number of public and service focussed events to showcase the role of the association. 

To support the recruitment and development of new members, a number of the disciplines with RAF Motorsports have developed a structure of novice training. At this time both Motor Racing and Motor Cycle Road Racing have vehicles for use by novice competitors principally for training. For those novices who are committed to competition, then those vehicles are then made available for use in their first season to offset the substantial costs associated with owning your own vehicle. This programme will expand to Rally for 2023, with karting already having a model that provides access to competition for new members via station kart teams. 

4 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **ACHIEVEMENTS AND PERFORMANCE (continued)** 

Whilst e-motorsports has yet to be officially recognised by RAF Sport, RAF Motorsports has interwoven the synthetic environrnent into the training programme, seeing tangible benefit from exposing someone to a race circuit before then putting them in one of the development cars. The reduction in track time required in the live environment to learn the circuit and the basics of racing tec�nique, was significant, showing just how beneficial the synthetic preparation can be. 

## **ACHIEVEMENTS AGAINST OBJECTIVES SET** 

RAF Motorsports has not traditionally had a major sponsorship base and we have worked hard to understand what our USP is and, how we can attract sponsors to enrich the sporting opportunities for RAF personnel. Our continuing synergy with STEM has ensured support from RAF Profession Advisors which have continued to qenerate mutual benefit. 

We have continued to use every opportunity to showcase the association and develop our portfolio. 

We continue to research opportunities for sponsorship and the quality of key .competitors has attracted sponsor interest and we have been successful in lower-level engagement in certain areas such as the Motorcycle Side-car team and some initiatives in the car racing team. The aim will be to build across all sporting areas, the sponsor opportunities. 

## **FINANCIAL REVIEW** 

**At** the end of the year, reserves held in the General Fund, other than that reserved for depreciation, amounted to approx £15K. 

Reserves are held to preserve the operation of the charity in the event that financial commitment from supporting organisation (RAF Central Fund) is disrupted, withdrawn or reduced. The reserves also form a contingency in the event of unforeseen emergent costs that can't be funded from in-year allocations. 

RAF Central Fund remains the principal source of charitable funding. 

## **TRUSTEES AND GOVERNANCE** 

The Chair is appointed by AOC 22 Group. Ali other trustees are appointed by election at **AGM.** 

Trustees are all provided with direction to the Charity Commission information relating to the position. 

RAF Motorsports operates under the direction of H[Q ] 22 Gp and the Directorate of RAF Sport. The association operates with the support of the RAF Central Fund and the RAF Sports Federation. 

The principal relationship of RAF Motorsports is with the RAF Sports Federation on matters of a ,CIO nature. 

## **SERIOUS INCIDENT** 

A member of the Motor Cycle Road Racing team suffered a fatality at Cadwell Park in May 22 during an event. This accident is the sub[j] ect of a Service In[q] ui[ry ] which will not output any findings until 2023. 

## **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. 

Date _**.. .J/..afr[.] .1-.5. .................. ..**_ 

Signature ..... ��············ ........................... . PRINT NAME .............. . /S!l.c.k ........................ . d.U.t 

_**5**_ 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022** 

|Incorporating income and expenditure account|Incorporating income and expenditure account|Incorporating income and expenditure account||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Designated|Restricted|**TOTAL**|**TOTAL**|
||Notes||Funds|Funds|Funds|**2022**|**2021**|
||||£|£|£|**£**|**£**|
|**INCOMING RESOURCES**||||||||
|**Income and Endowments from:**||||||||
|Donations and Legacies||3a|8,000|8,000|101,853|117,853|78,256|
|Charitable Activities||3b|4,740|12,400|-|17,140|7,930|
|Other Trading Activities||3c|16,167|600|24,401|41,168|4,000|
|Investments||3d|-|-|-|-|-|
|Other||3e|-|-|-|-|-|
|**TOTAL**|||**28,907**|**21,000**|**126,254**|**176,161**|**90,186**|
|**RESOURCES EXPENDED**||||||||
|**Expenditure on:**||||||||
|Raising Funds||4a|-|-|-|-|-|
|Charitable Activities||4b|35,579|16,506|100,176|152,261|86,821|
|Other||4c|-|-|-|-|-|
|**TOTAL**|||**35,579**|**16,506**|**100,176**|**152,261**|**86,821**|
|||||||||
|**NET INCOME/(EXPENDITURE) BEFORE**|||**(6,672)**|**4,494**|**26,078**|**23,900**|**3,365**|
|**INVESTMENT GAINS/(LOSSES)**||||||||
|Net gains/(losses) on investments|||**-**|**-**|**-**|**-**|**-**|
|**NET INCOME/(EXPENDITURE)**|||**(6,672)**|**4,494**|**26,078**|**23,900**|**3,365**|
|Transfers between funds|||27,595|(1,517)|(26,078)|-|-|
|**Other recognised gains/(losses):**||||||||
|Gains<br>and<br>losses<br>on<br>revaluation|of|fixed|-|-|-|-|-|
|assets for the CIO's own use||||||||
|**NET MOVEMENT IN FUNDS**|||**20,923**|**2,977**|**-**|**23,900**|**3,365**|
|**RECONCILIATION OF FUNDS:**||||||||
|Total Funds Brought Forward|||28,022|8,399|-|36,421|33,056|
|**TOTAL FUNDS CARRIED FORWARD**|||**48,945**|**11,376**|**-**|**60,321**|**36,421**|



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 8 to 13 form part of these financial statements. 

6 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **BALANCE SHEET AS AT 31ST DECEMBER 2022** 

|**Fixed Assets**<br>Tangible assets<br>**Current Assets**<br>Stocks<br>Debtors<br>Cash at bank and in hand<br>**Total Current Assets**<br>**Creditors:**amounts falling due within one<br>year<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS**less current liabilities<br>**Creditors:**amounts falling due in more than<br>one year<br>**NET ASSETS**<br>**Funds of the CIO**<br>General Funds<br>General Funds - Depreciation Provision<br>Restricted Funds<br>Designated Funds<br>**Total Funds**<br>**Note**<br>2<br>6<br>7<br>8<br>9<br>10<br>11<br>12|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|Unrestricted<br>Funds<br>' £<br>32,137<br>1,694<br>33,639<br>Restricted<br>Funds<br>£<br>600<br>**,31-Dec-2231-Dec-21**<br>**Total**<br>**Total**<br>£<br>£<br>32,137<br>5,418<br>1,694<br>2,525<br>34,239<br>40,795|
|---|---|---|---|---|
|||**35,333**<br>7,149<br>28,184<br>**600**<br>600|**35,933**<br>7,749<br>28,184|**43,320**<br>12,317<br>31,003|
|||**60,321**<br>**60,321**<br>14,777<br>34,168<br>11,376<br>**60,32**|**60,321**<br>**60,321**<br>14,777<br>34,168<br>11,376<br>**60,321**|**36,421**<br>**36,421**<br>22,604<br>5,418<br>8,399<br>**36,421**|



## **Sig!"ed on behalf of all the trust�es** 

Signature Print Name Date of approval _**/1**_ (}C,f' _**!J**_ 

7 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **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. 

The Trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO. 

## **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. 

8 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **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. 

## **2. TANGIBLE 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 on tangible fixed assets is calculated at a rate to write off their cost on a straight line basis over their estimated useful lives. 

|Cost<br>01-Jan-22<br>Additions<br>Disposals<br>Transfer<br>Cost at<br>31-Dec-22<br>Depreciation<br>01-Jan-22<br>Charge<br>On Disposals<br>Depreciation at<br>31-Dec-22<br>Net Book Value<br>31-Dec-22<br>Net Book Value<br>31-Dec-21|Unrestricted<br>Restricted<br>Total<br>£<br>£<br>£<br>49,066<br>-<br>49,066<br>11,879<br>26,078<br>37,957<br>(3,500)<br>-<br>(3,500)<br>26,078<br>(26,078)<br>-<br>83,523<br>-<br>83,523<br>43,648<br>-<br>43,648<br>8,905<br>-<br>8,905<br>(1,167)<br>(1,167)<br>51,386<br>-<br>51,386<br>**32,137**<br>**-**<br>**32,137**<br>5,418<br>-<br>5,418|
|---|---|



The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022 : None 

31st December 2021 : None 

9 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

|**3. ANALYSIS OF INCOME**<br>**a) Donations and Legacies**<br>Grants<br>Donations<br>**b)  Charitable Activities**<br>Membership Subscriptions<br>Equipment Hire<br>**c) Other Trading Activities**<br>Sponsorship<br>Sale of Clothing<br>Gain on Sale of Fixed Assets<br>**d) Investments**<br>**e) Other**<br>Personal Contributions for<br>Equipment and Clothing|Unrestricted<br>Designated<br>Restricted<br>**TOTAL**<br>**TOTAL**<br>Funds<br>Funds<br>Funds<br>**2022**<br>**2021**<br>£<br>£<br>£<br>**£**<br>**£**<br>8,000<br>7,000<br>101,853<br>116,853<br>76,456<br>-<br>1,000<br>-<br>1,000<br>1,800<br>**8,000**<br>**8,000**<br>**101,853**<br>**117,853**<br>**78,256**<br>4,400<br>-<br>-<br>4,400<br>3,990<br>340<br>-<br>-<br>340<br>400<br>-<br>12,400<br>-<br>12,400<br>3,540<br>**4,740**<br>**12,400**<br>**-**<br>**17,140**<br>**7,930**<br>15,000<br>-<br>24,401<br>39,401<br>4,000<br>-<br>600<br>-<br>600<br>-<br>1,167<br>-<br>-<br>1,167<br>-<br>**16,167**<br>**600**<br>**24,401**<br>**41,168**<br>**4,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|
|---|---|



10 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **4. ANALYSIS OF EXPENDITURE** 

||Unrestricted|Unrestricted|Designated|Restricted|**TOTAL**|**TOTAL**|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|**2022**|**2021**|
|||£|£|£|**£**|**£**|
|**a) Raising Funds**|||||||
|||**-**|**-**|**-**|**-**|**-**|
|**b) Charitable Activities**|||||||
|Clothing and Equipment||19,794|10,494|49,194|79,482|38,402|
|Training Camps||-|-|4,196|4,196|5,400|
|Marketing, Advertising & Website||-|-|-|-|2,550|
|Entrance Fees||2,170|1,845|21,364|25,379|21,672|
|Other Operating Costs||2,710|4,167|7,547|14,424|10,522|
|Depreciation||8,905|-|-|8,905|4,357|
|RAF Championships||-|-|-|-|3,918|
|New Member Engagement||2,000|-|17,875|19,875|-|
|||**35,579**|**16,506**|**100,176**|**152,261**|**86,821**|
|**c) Other**|||||||
|||**-**|**-**|**-**|**-**|**-**|
|**5. DETAILS OF CERTAIN TYPES OF EXPENDITURE**<br>Assurance services other than audit or independent examination<br>Independent examiner’s fees<br>Other fees (for example: financial advice, consultancy, accountancy services) paid to<br>the independent examiner<br>Tax advisory fees|||||**TOTAL**<br>**2022**<br>**£**<br>1,080<br>-<br>-<br>-<br>**1,080**|**TOTAL**<br>**2021**<br>**£**<br>1,080<br>-<br>-<br>-<br>**1,080**|
|**6. STOCKS**|||||||
|The CIO held no stock at the end of the|period.||||||
|**7. DEBTORS AND PREPAYMENTS**|||Unrestricted|Restricted|**31-Dec-22**|**31-Dec-21**|
|Debtors|||Funds<br>£<br>1,324|Funds<br>£<br>-|**Total**<br>**£**<br>1,324|**Total**<br>**£**<br>2,525|
|Prepayments|||370|-|370|-|
||||**1,694**|-|**1,694**|**2,525**|
|**8. CASH AT BANK AND IN HAND**|||Unrestricted|Restricted|**31-Dec-22**|**31-Dec-21**|
|Cash at bank and on hand|||Funds<br>£<br>33,639|Funds<br>£<br>600|**Total**<br>**£**<br>34,239|**Total**<br>**£**<br>40,795|
|Total|||**33,639**|**600**|**34,239**|**40,795**|



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## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

|**9. CREDITORS AND ACCRUALS:**||Unrestricted|Restricted|**31-Dec-22**|**31-Dec-21**|
|---|---|---|---|---|---|
|**AMOUNTS FALLING DUE WITHIN ONE**||Funds|Funds|**Total**|**Total**|
|||£|£|**£**|**£**|
|Creditors||6,009|-|6,009|10,577|
|Accrual - Independent Examination||1,080|-|1,080|1,080|
|Other Accruals and Deferred Income||60|600|660|660|
|||**7,149**|**600**|**7,749**|**12,317**|
|Creditors<br>Accruals<br>**10. CREDITORS AND ACCRUALS: AMOUNTS **<br>**DUE IN MORE THAN ONE YEAR**|**FALLING**|Unrestricted<br>Funds<br>£<br>-<br>-|Restricted<br>Funds<br>£<br>-<br>-|**31-Dec-22**<br>**Total**<br>**£**<br>-<br>-|**31-Dec-21**<br>**Total**<br>**£**<br>-<br>-|
|||**-**|**-**|**-**|**-**|
|**11. RESTRICTED FUNDS**||CURRENT REPORTING||PERIOD||
|RAF Central Fund|Balance<br>01-Jan-22<br>£<br>-|Income<br>£<br>126,254|Expenditure<br>£<br>(100,176)|Transfers<br>£<br>(26,078)|**Balance**<br>**31-Dec-22**<br>£<br>-|
||**-**|**126,254**|**(100,176)**|**(26,078)**|**-**|
|||PRIOR|REPORTING PERIOD|||
|RAF Central Fund|Balance<br>01-Jan-21<br>£<br>-|Income<br>£<br>76,456|Expenditure<br>£<br>(73,503)|Transfers<br>£<br>(2,953)|**Balance**<br>**31-Dec-21**<br>£<br>-|
||**-**|**76,456**|**(73,503)**|**(2,953)**|**-**|



Central Fund Grant - to be used for operating costs, kit and equipment, overseas visits and development activities. 

The transfers to general fund are for equipment purchased and transferred to fixed assets. 

The restricted funds are wholly represented by cash reserves of the charity. 

## **12. DESIGNATED FUNDS** 

|Ardua/Enduro Training Fund<br>Driver Development/Training Fund<br>Ardua/Enduro Training Fund<br>Driver Development/Training Fund|Balance<br>**Balance**<br>01-Jan-22<br>Income<br>Expenditure<br>Transfers<br>**31-Dec-22**<br>£<br>£<br>£<br>£<br>£<br>2,686<br>-<br>-<br>(2,686)<br>-<br>5,713<br>21,000<br>(16,506)<br>1,169<br>11,376<br>**8,399**<br>**21,000**<br>**(16,506)**<br>**(1,517)**<br>**11,376**<br>Balance<br>**Balance**<br>01-Jan-21<br>Income<br>Expenditure<br>Transfers*<br>**31-Dec-21**<br>£<br>£<br>£<br>£<br>£<br>2,686<br>-<br>-<br>-<br>2,686<br>1,517<br>5,740<br>2,544<br>1,000<br>5,713<br>**4,203**<br>**5,740**<br>**2,544**<br>**1,000**<br>**8,399**<br>CURRENT REPORTING PERIOD<br>PRIOR REPORTING PERIOD|
|---|---|



*Transfer from excepted charity. 

12 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** 

## **13. STAFF COSTS** 

The CIO had no paid staff during the period. 

## **14. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES** 

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the CIO and a trustee or any person connected with them. 

## **15. 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. 

## **16. RESERVES POLICY** 

The trustees have considered the level of reserves they wish to retain, appropriate to the charity'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. 

## **17. 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 Charity Commission guidance on public benefit before deciding what activities the CIO should undertake. 

13 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** 

I report to the trustees on my examination of the accounts of The Royal Air Force Motorsports Association Charitable Incorporated Organisation (the CIO) for the year ended 31 December 2022. 

As the charity'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 charity'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: 

Name: J Irvinesmith FCIE 

Date: 20th October 2023 

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF 

14