ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025
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
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CONTENTS
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Pages 3 to 6 Report of the Trustees
Page 7 Statement of Financial Activities
Page 8 Independent Examiners Report to the Trustees.
Page 9 Statement of Financial Activities
Page 10 Balance Sheet
Pages 11 to 16 Notes to the Financial Statements
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2
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2025
LEGAL AND ADMINISTRATIVE INFORMATION
LEGAL STATUS Charitable Incorporated Organisation (no. 1181915) START OF FINANCIAL PERIOD 1st January 2025 END OF FINANCIAL PERIOD 31st December 2025 TRUSTEES THAT SERVED DURING Brian Watson (chair) FINANCIAL YEAR END 31ST DECEMBER Alex Ruck 2025 Darren Berris 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 2025
EXECUTIVE COMMITTEE
Committee member name
Office (if any)
Dates acted if not for whole year
Alex Smith General Secretary Matthew Beech Safety Manager Until Jun 25 Alex Waldeck Engagement Simon Hilton Safeguarding Officer Emma Ockendon Membership Secretary Frazer Gillan Team Manager Motor Racing Matthew Hillier Team Manager Rally Daniel Southerland Team Manager Motor Cycle Road Racing Gary Lawton Deputy Kurt Smith Team Manager Karting Ben Scott Deputy Brien Middlebrook Team Manager Motorcycle Off Road Radley Hughes Team Manager Motorcycle Enduro Luke Payne Team Manager Motorcycle Motocross Joshua Clegg Team Manager Motorcycle Trials Graham Burton Team Manager Officials James King Team Manager eMotorsports Steve Ward Deputy
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 , as well as engagement with sponsors.
4
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
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 relationships of RAF Motorsports are with the RAF Central Fund on Charity Commission matters, with the Directorate of RAF Sport for RAF Sport delivery matters and with the National Governing Bodies for sporting regulations.
SERIOUS INCIDENTS
There were no serious incidents to report.
5
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
FINANCIAL REVIEW
Income received in financial year ended 31st December 2025 was £177,558 (2024: £193,840) and expenditure was £200,454 (2024: £203,321). This resulted in a deficit of income over expenditure in 2025 of £22,896 (2024: surplus of £9,481).
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.
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.
GOING CONCERN
As disclosed earlier within this report, the Trustees of the Association have determined that it is in the best interests of the charity to merge with the Royal Air Force Central Fund. As of the date of transfer the Association will no longer exist as a standalone entity but will operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund.
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.
16 Feb 26 Date ………………………………………….
Signature………………………………………………………………
Alex Ruck PRINT NAME…………………………………………………………..
6
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 2025.
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. 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: K Gomes FCIE MAAT
Date:
17.2.26
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
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ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2025
| Unrestricted | Designated | Restricted | TOTAL | TOTAL | |||
|---|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | £ | |||
| INCOME | |||||||
| Income and Endowments from: | |||||||
| Donations and Legacies | 3a | 56,200 | - | 89,945 | 146,145 | 121,118 | |
| Charitable Activities | 3b | 23,831 | - | - | 23,831 | 29,041 | |
| Other Trading Activities | 3c | 2,582 | 5,000 | - | 7,582 | 32,517 | |
| Investments | 3d | - | - | - | - | - | |
| Other | 3e | - | - | - | - | 11,164 | |
| TOTAL | 82,613 | 5,000 | 89,945 | 177,558 | 193,840 | ||
| EXPENDITURE | |||||||
| Expenditure on: | |||||||
| Raising Funds | 4a | - | - | - | - | - | |
| Charitable Activities | 4b | 102,509 | 5,000 | 92,945 | 200,454 | 203,321 | |
| Other | 4c | - | - | - | - | - | |
| TOTAL | 102,509 | 5,000 | 92,945 | 200,454 | 203,321 | ||
| NET INCOME/(EXPENDITURE) BEFORE | (19,896) | - | (3,000) | (22,896) | (9,481) | ||
| INVESTMENT GAINS/(LOSSES) | |||||||
| Net gains/(losses) on investments | - | - | - | - | - | ||
| NET INCOME/(EXPENDITURE) | (19,896) | - | (3,000) | (22,896) | (9,481) | ||
| Transfers between funds | 11 | - | - | - | - | - | |
| Other recognised gains/(losses): | |||||||
| Gains and losses on revaluation |
of | fixed | - | - | - | - | - |
| assets for the CIO's own use | |||||||
| NET MOVEMENT IN FUNDS | (19,896) | - | (3,000) | (22,896) | (9,481) | ||
| RECONCILIATION OF FUNDS: | |||||||
| Total Funds Brought Forward | 109,687 | - | 3,000 | 112,687 | 122,168 | ||
| Transfer of Assets on Merger | 18 | (89,791) | - | - | (89,791) | ||
| TOTAL FUNDS CARRIED FORWARD | - | - | - | - | 112,687 |
As disclosed earlier within this report, the Trustees of the Association have determined that it is in the best interests of the charity to merge with the Royal Air Force Central Fund. As of the date of transfer the Association will no longer exist as a standalone entity but will operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund.
The notes on pages 11 to 16 form part of these financial statements.
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ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
BALANCE SHEET AS AT 31ST DECEMBER 2025
| Note Fixed Assets Tangible assets 2 Current Assets Stocks 6 Debtors 7 Cash at bank and in hand 8 Total Current Assets 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities 10 NET ASSETS Funds of the CIO General Funds General Funds - Depreciation Provision Restricted Funds 11 Designated Funds 12 Total Funds Creditors:amounts falling due in more than one year Creditors:amounts falling due within one year |
Unrestricted Restricted 31-Dec-25 31-Dec-24 Funds Funds Total Total £ £ £ £ - - - 81,683 - - - - - - - 132 - - - 32,072 |
|---|---|
| - - - 32,204 |
|
| - - - 1,200 - - - 31,004 |
|
| - - - 112,687 - - - - |
|
| - - - 112,687 |
|
| - - - 28,004 - - 81,683 - - - 3,000 - - - - |
|
| - - - 112,687 |
Signed on behalf of all the trustees
Signature
Print Name Alex Ruck Date of approval 16 Feb 26
9
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2025
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.
As noted under the Reserves and Going Concern sections of the Trustees Report and in Note 16, the CIO has merged with the RAF Central Fund, with an effective date of 1st January 2026. This will mean that the CIO's operations will cease with Royal Air Force Equitation Association CIO, but will continue to operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund.
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.
10
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
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 01-Jan-25 Additions Disposal Transfer on Merger (Note 18) Cost at 31-Dec-25 Depreciation 01-Jan-25 Charge Disposal Transfer on Merger (Note 18) Depreciation at 31-Dec-25 Net Book Value 31-Dec-25 Net Book Value 31-Dec-24 |
Unrestricted Restricted Total £ £ £ 168,997 - 168,997 (44,146) - (44,146) (124,851) - (124,851) |
|---|---|
| - - - |
|
| 87,314 - 87,314 25,276 - 25,276 (43,533) - (43,533) (69,057) - (69,057) |
|
| - - - |
|
| - - - |
|
| 81,683 - 81,683 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2025 : None
31st December 2024 : None
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ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
| 3. ANALYSIS OF INCOME a) Donations and Legacies Grants Donations b) Charitable Activities Membership Subscriptions Equipment Hire c) Other Trading Activities Sponsorship Sale of Clothing and Equipment d) Investments e) Other Annual Dinner Personal Contributions for Equipment, Training and Clothing |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2025 2024 £ £ £ £ £ - - 89,945 89,945 101,318 56,200 - - 56,200 19,800 |
|---|---|
| 56,200 - 89,945 146,145 121,118 |
|
| 10,096 - - 10,096 9,605 3,000 - - 3,000 501 10,735 - - 10,735 18,935 |
|
| 23,831 - - 23,831 29,041 |
|
| 1,800 5,000 - 6,800 28,700 782 - - 782 3,817 |
|
| 2,582 5,000 - 7,582 32,517 |
|
| - - - - - |
|
| - - - - 11,164 |
|
| - - - - 11,164 |
12
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
4. ANALYSIS OF EXPENDITURE
| a) Raising Funds b) Charitable Activities Clothing and Equipment Training Camps Entrance Fees Other Operating Costs (Note 5) Depreciation Disposal of Asset New Member Engagement |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2025 2024 £ £ £ £ £ - - - - - |
|---|---|
| - - - - - |
|
| 32,057 1,000 36,468 69,525 93,893 5,073 - 2,107 7,180 - 1,567 2,000 17,214 20,781 16,973 35,825 - 27,806 63,631 62,866 25,276 - - 25,276 17,964 613 - - 613 - 2,098 2,000 9,350 13,448 11,625 |
|
| 102,509 5,000 92,945 200,454 203,321 |
c) Other
Bad Debt Write Off - - - - - -
5. DETAILS OF CERTAIN TYPES OF EXPENDITURE
| Included in Operating Costs: Annual dinner Bank charges and card fees Consumables Contractors Fees Hire Costs Independent examiner’s fees Insurance Inter service Legal and Professional Fees Medals/Trophy engraving Miscellaneous Officials Printing, Postage and Stationery Refreshments and Subsistence Registration, Membership and Affiliation Fees Rent and Utilities Repairs Sponsor entertainment Training/Course Fees Travel and Vehicle Costs Grants to Individuals |
TOTAL TOTAL 2025 2024 £ £ 6,635 7,939 346 301 3,704 1,987 407 800 2,300 25,260 1,200 1,200 47 95 3,725 1,950 177 1,502 - 556 45 - 3,234 - - 41 4,081 2,279 5,444 3,547 - 1,135 19,001 11,793 380 1,666 11,680 750 - 65 1,225 - |
|---|---|
| 63,631 62,866 |
6. STOCKS
The CIO held no stock at the end of the period.
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ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
| 7. DEBTORS AND PREPAYMENTS | Unrestricted | Restricted | 31-Dec-25 | 31-Dec-24 |
|---|---|---|---|---|
| Funds | Funds | Total | Total | |
| £ | £ | £ | £ | |
| Prepayments | - | - | - | 132 |
| - | - | - | 132 | |
| 8. CASH AT BANK AND IN HAND | Unrestricted | Restricted | 31-Dec-25 | 31-Dec-24 |
| Funds | Funds | Total | Total | |
| £ | £ | £ | £ | |
| Cash at bank and in hand | 34,288 | - | 34,288 | 32,072 |
| Transfer on Merger (Note 18) | (34,288) | - | (34,288) | - |
| Total | - | - | - | 32,072 |
| 9. CREDITORS AND ACCRUALS: AMOUNTS FALLING | Unrestricted | Restricted | 31-Dec-25 | 31-Dec-24 |
| DUE WITHIN ONE YEAR | Funds | Funds | Total | Total |
| £ | £ | £ | £ | |
| Creditors | 292 | - | 292 | - |
| Accrual - Independent Examination | - | - | - | 1,200 |
| Transfer on Merger (Note 18) | (292) | - | (292) | - |
| - | - | - | 1,200 | |
| 10. CREDITORS AND ACCRUALS: AMOUNTS FALLING | Unrestricted | Restricted | 31-Dec-25 | 31-Dec-24 |
| DUE IN MORE THAN ONE YEAR | Funds | Funds | Total | Total |
| £ | £ | £ | £ | |
| Creditors | - | - | - | - |
| - | - | - | - |
14
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
11. RESTRICTED FUNDS
| 11. RESTRICTED FUNDS | |
|---|---|
| Note RAF Central Fund RAF Sports Fund Nuffield Trust Grant RAF Central Fund RAF Sports Fund Nuffield Trust Grant |
CURRENT REPORTING PERIOD |
| Balance Balance 01-Jan-25 Income Expenditure Transfers 31-Dec-25 £ £ £ £ £ 3,000 83,750 (86,750) - - - - - - 6,195 (6,195) - |
|
| 3,000 89,945 (92,945) - - |
|
| PRIOR REPORTING PERIOD | |
| Balance Balance 01-Jan-24 Income Expenditure Transfers 31-Dec-24 £ £ £ £ £ - 89,733 (81,516) (5,217) 3,000 3,000 - - (3,000) - - 11,250 - (11,250) - |
|
| 3,000 100,983 (81,516) (19,467) 3,000 |
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. 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
| 12. DESIGNATED FUNDS | |
|---|---|
| Ardua/Enduro Training Fund MCRR Fund Open Day Fund |
CURRENT REPORTING PERIOD |
| Balance Balance 01-Jan-25 Income Expenditure Transfers 31-Dec-25 £ £ £ £ £ - - - - - 3,000 (3,000) - - 2,000 (2,000) - |
|
| - 5,000 (5,000) - - |
The Trustees have lifted the designation on the above funds and transferred the balances to general unrestricted funds.
| Ardua/Enduro Training Fund MCRR Fund Driver Development/Training Fund |
PRIOR REPORTING PERIOD |
|---|---|
| Balance Balance 01-Jan-24 Income Expenditure Transfers 31-Dec-24 £ £ £ £ £ 1,130 - - (1,130) - 5,267 - - (5,267) - 22,079 - - (22,079) - |
|
| 28,476 - - (28,476) - |
13. STAFF COSTS
The CIO had no paid staff during the period.
15
ROYAL AIR FORCE MOTORSPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
14. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES
Apart from endurance race event costs reimbursement to one Trustee for £4,295 ,which were paid on the same terms and amounts as non trustee members, no other payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
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.
18.TRANSFER OF ASSETS ON MERGER
RAF Motorsports Association merged with RAF Central Fund (charity number 1152560) at midnight between 31 December 2025 and 1st January 2026. On that date the assets and liabilities of RAF Motorsports Association were transferred to the RAF Central Fund and its reserves were treated as a donation to the RAF Central Fund. The transactions of RAF Motorsports Association since that date have been included in the Statement of Financial Activities of the RAF Central Fund.
The assets transferred were as follows:
| Creditors Debtors Total Fixed Assets at net book value Cash at bank and in hand |
Unrestricted Restricted 31-Dec-25 Funds Funds Total £ £ £ 55,795 - 55,795 34,288 - 34,288 - - - (292) - (292) |
|---|---|
| 89,791 - 89,791 |
16