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


## **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**|**Office (if any)**|**Dates acted if not for**<br>**wholeyear**|**Name of person (or body) entitled to**<br>**appoint trustee(if any)**|
|---|---|---|---|---|
|1|Brian Watson|Chair||AOC 22 Group|
|2|Alex Ruck|Treasurer||AGM|
|3|Darren Berris|Deputy Chair|Appointed 14 Oct 24|B. Watson & A. Ruck|



## **Executive committee if different from above** 

||**Committee member**<br>**name**|**Office (if any)**|**Dates acted if not for whole year**|
|---|---|---|---|
|1|Alex Smith|General Secretary||
|2|Alan Winchester|Safety Manager|Until Oct 24|
|3|Matthew Beech|Safety Manager|From Oct 24|
|4|Will Runciman|Media and Comms||
|5|Simon Hilton|Safeguarding Officer||
|6|Chris Slator|Team Director Motor Racing||
|7|Frazer Gillan|Team Manager Motor Racing||
|8|Craig Teasdale|Team Manager Rally||
|9|Matthew Hillier|Deputy||
|10|Daniel Southerland|Team Manager Motor Cycle Road Racing||
|11|Gary Lawton|Deputy||
|12|Kurt Smith|Team Manager Karting||
|13|Ben Scott|Deputy||
|14|Joshua Clegg|Team Manager Trials||
|15|Brien Middlebrook|Team Manager Enduro & Motocross||
|16|Luke Payne|Deputy||
|17|James King|Team Manager eMotorsports||



1 



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


## **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. 

2 



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


## **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. 

RAF Motorsports has continued to develop its base of New Member Engagement and training vehicles. Motor Racing, Rally, Motor Cycle Road Racing, and Off-Road Motorcycles all have access to vehicles that can develop newcomers via training events and then be of the correct standard to take to competition. 

Association activities were showcased across a number of grass roots events and open days resulting in successful engagement with a significant number of RAF personnel and an increase in membership of 18 personnel. 

## **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 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. 

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

Not applicable 

## **Other** 

3 



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


**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. **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)** There were no serious incidents during 2024 

4 



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


## **Declarations** 

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

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

|**Signed on behalf of the**|**charity’s trustees**||
|---|---|---|
|Signature|||
|Full Name|Darren Berris||
|Position|Deputy Chair||
|Date|21 May 25||



5 



# **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

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

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

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



## **ROYAL AIR FORCE MOTORSPORTS 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 MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

**LEGAL STATUS** Charitable Incorporated Organisation (no. 1181915) **START OF FINANCIAL PERIOD** 1st January 2024 **END OF FINANCIAL PERIOD** 31st December 2024 **TRUSTEES THAT SERVED DURING** Brian Watson (chair) **FINANCIAL YEAR END 31ST DECEMBER** Alex Ruck **2024** Darren Berris (appointed 14 October 2024) The Chair is appointed by AOC 22 Group.  All other trustees are appointed by either election at AGM or by the other trustees. **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** Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG 

## **OBJECTS** 

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

3 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** 

## **EXECUTIVE COMMITTEE** 

**Committee member name Office (if any) Dates acted if not for whole year** Alex Smith General Secretary Alan Winchester Safety Manager Until Oct 24 Matthew Beech Safety Manager From Oct 24 Will Runciman Media and Comms Simon Hilton Safeguarding Officer Chris Slator Team Director Motor Racing Frazer Gillan Team Manager Motor Racing Craig Teasdale Team Manager Rally Matthew Hillier 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 Brien Middlebrook Team Manager Enduro & Motocross Luke Payne Deputy James King 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 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. 

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. 

RAF Motorsports has continued to develop its base of New Member Engagement and training vehicles. Motor Racing, Rally, Motor Cycle Road Racing, and Off-Road Motorcycles all have access to vehicles that can develop newcomers via training events and then be of the correct standard to take to competition. 

Association activities were showcased across a number of grass roots events and open days resulting in successful engagement with a significant number of RAF personnel and an increase in membership of 18 personnel. 

4 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** 

## **FUNDRAISING** 

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 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. 

## **TRUSTEE SELECTION METHODS** 

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

## **INDUCTION AND TRAINING OF TRUSTEES** 

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

## **ORGANISATIONAL STRUCTURE** 

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. 

## **RELATIONSHIPS WITH RELATED PARTIES** 

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

## **SERIOUS INCIDENTS** 

There were no serious incidents to report. 

## **FINANCIAL REVIEW** 

Income received in financial year ended 31st December 2023 was £193,840 (2023: £206,523) and expenditure was £203,321 (2023: £144,676). This resulted in a deficit of income over expenditure in 2024 of £9,481 (2023: surplus of £61,847). 

Please refer to the following pages and our Royal Air Force Motorsport Association annual return for further detail. 

## **POLICY ON HOLDING RESERVES** 

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. 

At the end of the year, free reserves held were £28,004 as represented by unrestricted net current assets. 

## **PRINCIPAL SOURCE OF FUNDS** 

RAF Central Fund remains the principal source of charitable funding. 

## **PRINCIPAL RISKS FACING THE CHARITY** 

Financial risks facing the Royal Air Force Motorsport Association includes uncertainties over the future funding levels provided by the principal funding source. Efforts are underway to secure funding through commercial relationships with the private sector to reduce reliability on a sole charitable source. 

5 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** 

## **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. 27 Oct 25 Date …………………………………………. 

Signature……………………………………………………………… 

Alex Ruck PRINT NAME………………………………………………………….. 

6 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024** 

||||Unrestricted|Designated|Restricted|**TOTAL**|**TOTAL**|
|---|---|---|---|---|---|---|---|
||Notes||Funds|Funds|Funds|**2024**|**2023**|
||||£|£|£|**£**|**£**|
|**INCOME**||||||||
|**Income and Endowments from:**||||||||
|Donations and Legacies||3a|20,135|-|100,983|121,118|149,744|
|Charitable Activities||3b|29,041|-|-|29,041|26,839|
|Other Trading Activities||3c|32,517|-|-|32,517|28,500|
|Investments||3d|-|-|-|-|-|
|Other||3e|11,164|-|-|11,164|1,440|
|**TOTAL**|||**92,857**|**-**|**100,983**|**193,840**|**206,523**|
|**EXPENDITURE**||||||||
|**Expenditure on:**||||||||
|Raising Funds||4a|-|-|-|-|-|
|Charitable Activities||4b|121,805|-|81,516|203,321|144,106|
|Other||4c|-|-|-|-|570|
|**TOTAL**|||**121,805**|**-**|**81,516**|**203,321**|**144,676**|
|||||||||
|**NET INCOME/(EXPENDITURE) BEFORE**|||**(28,948)**|**-**|**19,467**|**(9,481)**|**61,847**|
|**INVESTMENT GAINS/(LOSSES)**||||||||
|Net gains/(losses) on investments|||**-**|**-**|**-**|**-**|**-**|
|**NET INCOME/(EXPENDITURE)**|||**(28,948)**|**-**|**19,467**|**(9,481)**|**61,847**|
|Transfers between funds||11|47,943|(28,476)|(19,467)|-|-|
|**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**|||**18,995**|**(28,476)**|**-**|**(9,481)**|**61,847**|
|**RECONCILIATION OF FUNDS:**||||||||
|Total Funds Brought Forward|||90,692|28,476|3,000|122,168|60,321|
|**TOTAL FUNDS CARRIED FORWARD**|||**109,687**|**-**|**3,000**|**112,687**|**122,168**|



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 9 to 15 form part of these financial statements. 

7 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **BALANCE SHEET AS AT 31ST DECEMBER 2024** 

|**Note**<br>**Fixed Assets**<br>Tangible assets<br>2<br>**Current Assets**<br>Stocks<br>6<br>Debtors<br>7<br>Cash at bank and in hand<br>8<br>**Total Current Assets**<br>9<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS**less current liabilities<br>10<br>**NET ASSETS**<br>**Funds of the CIO**<br>General Funds<br>General Funds - Depreciation Provision<br>Restricted Funds<br>11<br>Designated Funds<br>12<br>**Total Funds**<br>**Creditors:**amounts falling due in more than<br>one year<br>**Creditors:**amounts falling due within one<br>year|Unrestricted<br>Restricted<br>**31-Dec-24**<br>**31-Dec-23**<br>Funds<br>Funds<br>**Total**<br>**Total**<br>£<br>£<br>**£**<br>**£**<br>81,683<br>-<br>81,683<br>63,083<br>-<br>-<br>-<br>-<br>132<br>-<br>132<br>-<br>29,072<br>3,000<br>32,072<br>69,201<br>**29,204**<br>**3,000**<br>**32,204**<br>**69,201**<br>1,200<br>-<br>1,200<br>10,116<br>28,004<br>3,000<br>31,004<br>59,085<br>**109,687**<br>**3,000**<br>**112,687**<br>**122,168**<br>-<br>-<br>-<br>-<br>**109,687**<br>**3,000**<br>**112,687**<br>**122,168**<br>28,004<br>-<br>28,004<br>27,609<br>81,683<br>81,683<br>63,083<br>-<br>3,000<br>3,000<br>3,000<br>-<br>-<br>-<br>28,476<br>**109,687**<br>**3,000**<br>**112,687**<br>**122,168**|
|---|---|



## **Signed on behalf of all the trustees** 

Signature Print Name Sqn Ldr Alex Ruck Date of approval 27 Oct 2025 

8 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31ST DECEMBER 2024** 

## **Basis of preparation** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

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

## **Changes to accounting estimates** 

No changes to accounting estimates have occurred in the reporting period 

## **Material prior period errors** 

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

## **1. ACCOUNTING POLICIES** 

## **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 MOTORSPORTS ASSOCIATION** 

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

## **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-24<br>Additions<br>Transfer<br>Cost at<br>31-Dec-24<br>Depreciation<br>01-Jan-24<br>Charge<br>Depreciation at<br>31-Dec-24<br>Net Book Value<br>31-Dec-24<br>Net Book Value<br>31-Dec-23|Unrestricted<br>Restricted<br>Total<br>£<br>£<br>£<br>132,433<br>-<br>132,433<br>17,097<br>19,467<br>36,564<br>19,467<br>(19,467)<br>-<br>168,997<br>-<br>168,997<br>69,350<br>-<br>69,350<br>17,964<br>-<br>17,964<br>87,314<br>-<br>87,314<br>**81,683**<br>**-**<br>**81,683**<br>63,083<br>-<br>63,083|
|---|---|



The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2024 : None 

31st December 2023 : None 

10 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

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

|**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 and Equipment<br>**d) Investments**<br>**e) Other**<br>Annual Dinner<br>Personal Contributions for<br>Equipment, Training and Clothing|Unrestricted<br>Designated<br>Restricted<br>**TOTAL**<br>**TOTAL**<br>Funds<br>Funds<br>Funds<br>**2024**<br>**2023**<br>£<br>£<br>£<br>**£**<br>**£**<br>335<br>-<br>100,983<br>101,318<br>93,244<br>19,800<br>-<br>-<br>19,800<br>56,500<br>**20,135**<br>**-**<br>**100,983**<br>**121,118**<br>**149,744**<br>9,605<br>-<br>-<br>9,605<br>9,379<br>501<br>-<br>-<br>501<br>870<br>18,935<br>-<br>-<br>18,935<br>16,590<br>**29,041**<br>**-**<br>**-**<br>**29,041**<br>**26,839**<br>28,700<br>-<br>-<br>28,700<br>28,500<br>3,817<br>-<br>-<br>3,817<br>-<br>**32,517**<br>**-**<br>**-**<br>**32,517**<br>**28,500**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>11,164<br>-<br>-<br>11,164<br>1,440<br>**11,164**<br>**-**<br>**-**<br>**11,164**<br>**1,440**|
|---|---|



11 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

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

## **4. ANALYSIS OF EXPENDITURE** 

|**a) Raising Funds**<br>**b) Charitable Activities**<br>Clothing and Equipment<br>Training Camps<br>Entrance Fees<br>Other Operating Costs (Note 5)<br>Depreciation<br>New Member Engagement<br>**c) Other**<br>Bad Debt Write Off|Unrestricted<br>Designated<br>Restricted<br>**TOTAL**<br>**TOTAL**<br>Funds<br>Funds<br>Funds<br>**2024**<br>**2023**<br>£<br>£<br>£<br>**£**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>52,937<br>-<br>40,956<br>93,893<br>53,765<br>-<br>-<br>-<br>-<br>-<br>5,319<br>-<br>11,654<br>16,973<br>26,937<br>45,090<br>-<br>17,776<br>62,866<br>32,700<br>17,964<br>-<br>-<br>17,964<br>17,964<br>495<br>-<br>11,130<br>11,625<br>12,740<br>**121,805**<br>**-**<br>**81,516**<br>**203,321**<br>**144,106**<br>-<br>-<br>570<br>**-**<br>**-**<br>**-**<br>**-**<br>**570**|
|---|---|



## **5. DETAILS OF CERTAIN TYPES OF EXPENDITURE** 

|Included in Operating Costs:<br>Annual dinner<br>Bank charges and card fees<br>Consumables<br>Contractors Fees<br>Donations paid<br>First Aid<br>Hire Costs<br>Independent examiner’s fees<br>Insurance<br>Inter service<br>IT Hardware<br>Legal and Professional Fees<br>Medals/Trophy engraving<br>Miscellaneous<br>Printing, Postage and Stationery<br>Refreshments and Subsistence<br>Registration, Membership and Affiliation Fees<br>Rent and Utilities<br>Repairs<br>Sponsor entertainment<br>Training/Course Fees<br>Travel and Vehicle Costs|**TOTAL**<br>**TOTAL**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>7,939<br>5,018<br>301<br>205<br>1,987<br>6,759<br>800<br>-<br>-<br>400<br>-<br>175<br>25,260<br>480<br>1,200<br>1,080<br>95<br>114<br>1,950<br>495<br>-<br>1,293<br>1,502<br>1,305<br>556<br>399<br>-<br>100<br>41<br>-<br>2,279<br>-<br>3,547<br>6,529<br>1,135<br>926<br>11,793<br>1,084<br>1,666<br>3,200<br>750<br>1,355<br>65<br>1,783<br>**62,866**<br>**32,700**|
|---|---|



## **6. STOCKS** 

The CIO held no stock at the end of the period. 

12 



## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

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

|**7. DEBTORS AND PREPAYMENTS**|Unrestricted|Restricted|**31-Dec-24**|**31-Dec-23**|
|---|---|---|---|---|
||Funds|Funds|**Total**|**Total**|
||£|£|**£**|**£**|
|Prepayments|132|-|132|-|
||**132**|-|**132**|**-**|
|**8. CASH AT BANK AND IN HAND**<br>Cash at bank and in hand|Unrestricted<br>Funds<br>£<br>29,072|Restricted<br>Funds<br>£<br>3,000|**31-Dec-24**<br>**Total**<br>**£**<br>32,072|**31-Dec-23**<br>**Total**<br>**£**<br>69,201|
|Total|**29,072**|**3,000**|**32,072**|**69,201**|
|**9. CREDITORS AND ACCRUALS: AMOUNTS FALLING**<br>**DUE WITHIN ONE YEAR**<br>Creditors<br>Accrual - Independent Examination|Unrestricted<br>Funds<br>£<br>-<br>1,200|Restricted<br>Funds<br>£<br>-<br>-|**31-Dec-24**<br>**Total**<br>**£**<br>-<br>1,200|**31-Dec-23**<br>**Total**<br>**£**<br>8,976<br>1,140|
||**1,200**|**-**|**1,200**|**10,116**|
|Creditors<br>**10. CREDITORS AND ACCRUALS: AMOUNTS FALLING**<br>**DUE IN MORE THAN ONE YEAR**|Unrestricted<br>Funds<br>£<br>-|Restricted<br>Funds<br>£<br>-|**31-Dec-24**<br>**Total**<br>**£**<br>-|**31-Dec-23**<br>**Total**<br>**£**<br>-|
||**-**|**-**|**-**|**-**|



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## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

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

## **11. RESTRICTED FUNDS** 

|Note<br>RAF Central Fund<br>RAF Sports Fund<br>Nuffield Trust Grant<br>RAF Central Fund<br>RAF Sports Fund|Balance<br>**Balance**<br>01-Jan-24<br>Income<br>Expenditure<br>Transfers<br>**31-Dec-24**<br>£<br>£<br>£<br>£<br>£<br>-<br>89,733<br>(81,516)<br>(5,217)<br>3,000<br>3,000<br>-<br>-<br>(3,000)<br>-<br>-<br>11,250<br>-<br>(11,250)<br>-<br>**3,000**<br>**100,983**<br>**(81,516)**<br>**(19,467)**<br>**3,000**<br>Balance<br>**Balance**<br>01-Jan-23<br>Income<br>Expenditure<br>Transfers<br>**31-Dec-23**<br>£<br>£<br>£<br>£<br>£<br>-<br>87,233<br>(87,233)<br>-<br>-<br>-<br>6,011<br>(38)<br>(2,973)<br>3,000<br>**-**<br>**93,244**<br>**(87,271)**<br>**(2,973)**<br>**3,000**<br>PRIOR REPORTING PERIOD<br>CURRENT REPORTING PERIOD|
|---|---|



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

**Sports Fund Grant** - to be used for kit and equipment. The balance of £3,000 held at the end of 2023 was fully spent in 2024 but from the RAF Central Fund. The transfer of £3,000 represents the transfer of those monies to the RAF Central Fund, to be spent on further kit and equipment in 2025. **Nuffield Trust Grant** - to be used for kit and equipment. 

The transfers to general fund are for equipment purchased and transferred to fixed assets. The restriction was fulfilled upon purchase of the assets allowing the asset to be used for general charitable purposes. This is in accordance with the donors wishes. 

The restricted funds are wholly represented by cash reserves held at the bank by the charity. 

## **12. DESIGNATED FUNDS** 

|Ardua/Enduro Training Fund<br>MCRR Fund<br>Driver Development/Training Fund|Balance<br>**Balance**<br>01-Jan-24<br>Income<br>Expenditure<br>Transfers<br>**31-Dec-24**<br>£<br>£<br>£<br>£<br>£<br>1,130<br>-<br>-<br>(1,130)<br>-<br>5,267<br>-<br>-<br>(5,267)<br>-<br>22,079<br>-<br>-<br>(22,079)<br>-<br>**28,476**<br>**-**<br>**-**<br>**(28,476)**<br>**-**<br>CURRENT REPORTING PERIOD|
|---|---|



The Trustees have lifted the designation on the above funds and transferred the balances to general unrestricted funds. 

|Ardua/Enduro Training Fund<br>MCRR Fund<br>Driver Development/Training Fund|Balance<br>**Balance**<br>01-Jan-23<br>Income<br>Expenditure<br>Transfers<br>**31-Dec-23**<br>£<br>£<br>£<br>£<br>£<br>-<br>-<br>-<br>1,130<br>1,130<br>-<br>5,737<br>(470)<br>-<br>5,267<br>11,376<br>34,003<br>(23,104)<br>(196)<br>22,079<br>**11,376**<br>**39,740**<br>**(23,574)**<br>**934**<br>**28,476**<br>PRIOR REPORTING PERIOD|
|---|---|



## **13. STAFF COSTS** 

The CIO had no paid staff during the period. 

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## **ROYAL AIR FORCE MOTORSPORTS ASSOCIATION** 

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

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

One trustee was reimbursed a total of £348 for charitable expenditure incurred for an invoice for Sidecar team tyres that they paid personally. They also received a £247.50 contribution towards Personal Protective Equipment (knee guards). One trustee was reimbursed £1,950 for Birket relay team entry fees that they paid personally. No other 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. 

15 



## **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 2024. 

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”). 

## **Responsibilities 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. Attention is drawn to the fact that due to the resignation of a Trustee at the end of 2023, it left the charity in an unavoidable position in that only two Trustees remained in office for a short period of time, which is below the minimum permitted number of three. A third Trustee was appointed in October 2024 and all Board decisions made during the inquorate period will be ratified. 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: 27 October 2025 

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

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