Report of the Trustees and Flnancial Statements for the Year Ended 31 December 2024 for London City Airport Community Fund Charity number 1182642 London City Airport Community Fund Charity number 1182642 Contents TTUStee and professional advisers Report of the Trustees talement of ffinanGial aGtivilies 24 Balance sheet Notes to the financial ststements 7-12 Independent Examiner's Report lJ London City Airport Community Fund Charity number 1182642 TRUSTEES AND PROFESSIONAL ADVISERS Legal and administrative details London City Airport Community Fund was formed on 26" March 2019, as a Charitsble Incorporated Organisation ICIOI Registered Charity Number.. 1182642 RÈgistered Address.. City Aviation Housé, Royal Docks, London, E16 2PB, UK. Trustees Duncan Alexander Francesca Pacifico Helen Fernandes Manuela Claudia Altermatt Aaron Uthman Appointed on 1 February 2024 Appointed on 20 February 2024 Appointed on 1 September 2024 Independent examiner: Crowe U.K. LLP, R+ Building. 2 Blagrave Street, Reading, RG11AZ. UK Bank•rs: Barclays Bank PLC, 1 Churchill Place, London, E14 5HP, UK London Clty Airport Gommunlty Fund Chafity number 1182642 Report of the Tru$tcc$ The trustees who are also the direGtors of the Charity for the purposes of Companies Act 2006, present their report with the financial statements ofthe Charity for the year ended 31 December 2024. The trustees have adopted the provision of Accounting and Reporting by Charities.. Statement of Recommended Practlce appllcable lo charltle5 preparlng tmelr accounts In accordance wlth the Flnanclal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS102). The Charity is governed by the Charity tiuslees {Ihe'Trustees"I who have a duty. acting al all times in the best interes15 of the Charity. lo apply the Charity's assets to advance the Otrlect and have ulumate responsibility for all granl-making decisions. Structurej governance, and management London City Airport Community Fund is constituted as a Charitabla Incorporated Organi$alion undor a deed date¢J 26th MarGh 2019 with Votsn9 Mernbers other than 115 Trustees I'As50clatlon' Model Constitulionl. Recruitment and a ointment of new trustees Recruitm@nt and appointmont of nèw triigtees is in line with the TrLlSt deed. Trustees of the London City Airport Community Fund represent a cross section of thé Community. London City Airport ILCYI are dedicated to ensure there are representatives who understood the target boroughs, e.h2ritlg_q and nnl fnr prnfit grniipq And wniild hp. nhjpe.livp. providino fep.dback on projects to be supported without bias. As part of the application and ongoing review process, Trustees must also declare any Conflict of interest or reasons which may impact their objectivity. The Trustees extended an invitation lo local authorities and community groups immediately neighbouring the airport to join the board and ensured the chair was independent of LCY and had no bias to a particular local authority area. LCY representatives include members of the sustainability and corporate affairs teams. To ensure the Charity is inclusive of other LCY pgrtners the Tru$tee3 invite an airfine representative to become a Trustee for a 12-montn (iuralion. To seleci ine airline, the Trustees utiiise a noise performance table. This table is reviewed on an annual basis and cornpares performance in the incentives and penalties scheme against the previous year's performance lin this instance 2024 performance against 20231. The table is published in LCY'S annual pÈrformancÈ rÈport which is publirly availAhlg. Thg. hg.st pp.rfnrming airline again8t the incentive3 and penaltie8 Scheme criteria are invited lo join the Doard of Trustees for the forthcoming year. Swiss airline will ￿main in 2025 based on their performance. Purpose The purpose of the commLinity fund is to provide at least £75,000 per annum in grants to charities and not- for-profil organisations and is designed lo support local Gommunity initiatives. This is as required by London City Airport Limited Section 106 agreement. Review of activitips The Charity offers grants ranging from £300 to £3,000 which are available for eharitiés and not-for- profil organisalions lo enable significant and positive change for communits'es near London City AirpotL In 2024 the Charity awarded £76,70212023.' £86,023) of grants to 2712023: 201 local charities and not-for-profit organisations. Future Plans In 2025, the Truslees have already awarded £48.165 10 17 local organisations for the 1dtranGhe of grant. London City Airport Community Fund Charity number 1182642 RÈport of the TrustÈès leontinuÈd) Financial Review The Charity's net income for the year was £81,37012023.' £90,702) which is a grant from the London Clty Alrport Llmlted. Tnls amouni was spent on supporting a broaQ ranqe of Initiatives thai enable positive and significant change within and across diverse communities in East London. In total, £76,702 {2023'. £86.0231 worth of grants have been distributed, lo provide a financial boost lo local groups. such as food banks. mental health and wellbeing programmes, disability groups, and environmental wellbcing tcams. A furthcr £4,66812023.' £4,679) was spent on adminislralive fee of the company. Policy for Grants To distribute the funds evenly and fairly priority will be given to projects with a value of less than £3,000. Hnwp.vp.r prnjp.c.Is in •xcéss of this value may be considered if they offer exceptional community benefft. Priority will be given to projects whiGh include detailed costs and funding from other sourGes. The number of proje¢ts which can be supported is, of necessity, limited to the amount of total funds available for distribution in any year. To qualify for any of the available Grant, applicants hav• to bo a charity or not for profit or9ani$alion with project which adheres lo the following Griteiia's". Buildinq slronqer. safer. and healthier communitie5 Crgaling more sustainable and greener communities Raising aspirations of East Londoners Creating pathways into employment Th@ Trustees may occasionally award grants that fall outsicle the priorities stated in this policy. providod that they are sa115fied that the grant will further the Object and is an appiopiiate use of the Charity's funds. ApplitAtions from only the local areas below are eligible for consideration.. Barking & Dagenham, Bexley, Epping Forest District Council, Greenwich, Hackney, Havering, Newham, Lambelh, Lewisham Redbridge, Soulhwark, Tower Harn￿ts and Waltham Forest. Reserve's Policy The Trustees do not believe they need to hold any ￿serveS as the grants are fully funded by London City Airport Limited. Going concem Tlie findncial slaternents have been piepared a going concem basls as Londonla Topco Llmlte(J, the ultimate parent company intends lo support the Charity to ensure it can meel its obligations as they fall due. The trustees have received confirmation that Londonia Topco Limited intend5 to support the Charity for at least one year after the financial statements were approved. Public benefit statement The Trustees confirm that they have complied with the duty sel out under section 17 of the Charities Act 2011 to have due regard to the charity commission's guidance on public benefit 'Charitie5 and Publi Benefit, in dÉvÈloping the objÈctivpE fnr thg. yg.Ar And rilAnning gelivits@s Lon¢Jon City Airport Community Fund Charity number 1182642 STATEMENT OF TRUSTEES, RESPONSIDILITIES The Trustees are responsible for preparing the report of the Truslees and the financial statements in accordance with applicable law and regulation. Charity law requires the Trustees lo prepare financial slalements for each financial year which gave a true and fair view of slate of affairs of the Charity and of the incoming resources and application of resources including the income and expenditure, of the Charity for the year. In preparing the financial stalemenls. the Trustoas ara raquired lo.. select suitable accounting policies and then apply them ¢onsistenlly', observe the methods and principle5 in eharity SORP., make judgements and estimates that are reasonable and prudent.. State whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements.. prepare Ihe financlal staiemenis on the golng con￿rn basls unless il is inappropriate lo presume that the Charity will conlinLie in biisiness The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charbty's transactions and cllsc105e wlth rea50natile accuracy al any tlme the flnanclal posltlon or the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011_ They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and dete¢tion of froud and other irre9ularity. Approved by the Board of Trustees on and signed on their behalf by 11--ueW *loql 1025 Duncan Alexander Chair ofcommunity Fund l ondon c.ity Airport Commlinity Fiind Charity number 1182642 Statement of financial activities (income and expenditure account) For th¢ year ¢nded 31 December 2024 Notes Total 2024 Tot81 2023 INCOME AND ENDOWMENTS FROM: Donations and legacies 81,370 90, 702 Total income 81,370 90, IU2 EXPENDITURE ON: Costs of generating funds Charitatrie Activities Grants payablo Support costs 76,702 4,668 86,023 4,679 Total resources expended 81.370 90, 702 NET EXPENDITURE NET MOVEMENT IN FUNDS FUNDS BROUGHT FOR WARD FUNDS CARRIED FORWARD The notes on pages 7 to 12 form part of the financial statements. London City Airport Community Fund Charlty number 1182642 Balance sheet As at 31 DeGember2024 Notes 2024 2023 CURRENT ASSETS Dcbtors Uash at bank 3,629 1,121 4,034 526 4,650 4.560 CREDITORS: Due within one year 14,6501 (4,560) NET CURRENT ASSETS NET ASSETS REPRESENTED BY.. Unrostrictod funds Restmcted funtjs Approved by the Trustees on an¢J signed on their behalf Dy.. 4-loq1￿2 DunGan Alexander Tmstee The notes on pages 7 to 12 fomi part of the flnaneial statements. London City ￿rPort Community Fund Charity number 1182642 Notes to the Financial St2tÉments for the year ended 31 D8c8mbor 2024 1. CHARITY INFORMATION The principal activity of the Charity is to award gTants to charities and not-for-profil organisalions that benefit the local community. The Charitable Incorporated Orgaiiisatioii Ireyiiil¥reii Iiuiiibvi CE 016953, Charity number 11826421 is domiciled in the UK. The address of the registered office is City Aviation House, Royal Docks, London, E16 2PB. 2. ACCOUNTING POLICIES Basis of Preparation Thè accounts have been prepared in accordancÈ with thÈ Charilipq Art ?011 thp. triist deed and the Charities SORP {FRS102} applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The accounts have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the exteni required 10 provide a 'lrue and tair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in dCEordanGe with the Financial Reporting Standard applicable In the UK an¢ Republlc of Ireland IFRS1Q21 issued 16 July 2014 rather than the Accounting and Reporting by Charitses.. Stslement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. London City Airport Community Fund meets the definition of a public benefit entity under FRS 102. Assets and liAhilitira.s arp initially recogniged at historical cost or transaction value unless otherwise stated in tho relevant accounting policy note. Going concem The financial statements have been prepared on a going concern basis as Londonia Topco Limited. thè ultimate parent company intends to support the Charity to ensure it can meet its obligations as they fall due. The Trustees have received confirmation that Londonia Topco Limited intends to support the Charity for at least one year after the financial statements were approved. Recognltlon of income Income is recognised in the Statement of Financial Activities ISOFAI once the charity has entitlement to the funds, it is probable that the incomc will bc rcccivcd, and the amount Can be measured reliably. Donatlons and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement datp. In thé ov@nt that a donation is subject to conditions that require a lèvel of performance by the charity before the charity is entitled to the funds, the incotne is deferred and [eG￿nised until either Ilios¢ bviidiliuiib are fully mel, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that these conditions will be fulfilled in the reporting period. Grants r¢ceivablc Grant5 are recognised when the chaTity has an enlitlemenl lo the funds and any conditions linked lo grants have been met. Where performance conditions are attached to the grant and are yet to be mel, the income is reGognised as a liability and included on the balance sheet as deferred income to be released. Expenditure Expenditure is recognised on an accrual basis as each liability is in¢urred. Charitable expenditure compri3e3 tho¥e Gosl¥ incurred by the charity in the delivery of ils activities and services for ils beneficiaries. It Includes both costs that can be allocated directly lo such activities and those costs of an indire¢t nature necessary to support them. London City Airport Community Fund Charity number 1182642 Noto£ to tho Financial Statamonts for tho year andad 31 Do¢ombor 2024 {contlnu¢d} Charitable expenditure is reported under subheadings.. Charitable aGlivities in maintsining the website and raising publ￿ awareness. Support costs- comprising the costs incurred to support the trustees in running the activities. Llablllty recognltlon Liabilities are reG￿nised where it is more likely than not that Iheie is a legal or Gon3tlUGtive obligation committing the charity lo pay out resources and the amount of the obligation can te measured with reasonable certainty. Cash Gash comprtses casn in hand ana depjsits repayable on ¢emand. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount Offe￿d. Prepayiiieiits are valued al Ilie aiiiuuiil prepaid after iakn'ii9 aGGuuiiI ol aiiy IILad¢ dibwuiilb Que. Subsequently, they are measured at the cash or other consideration expected to be receNed. Grvditors and provi¥iDn¥ Creditors and provisions are recognised when the charity has a present obligation reSu￿1ng from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be rnea5uied or eblirndled ielidbly. They die tneasuied at 5etUernenl atnounts les5 any trade discount5. Flnanclal Instruments The ¢harty only ha3 financial assets and financial liabilitie3 of a knnd Ihatqualify a¥ basic financial instrument8. asic hnancial Inslrumenls ale Initially recognised at transaction value and subsequenUy measured at their settlement value. Grltlcal accounting judgements and key sources of estimatlon uncertalnty In the applution of the charity's ￿coUnting policies, which are described in note 2. Trustees are required to make judgements, estirF￿eS and assurnplions about the carrying value of assets and liabilib.es that are not readily apparent from other sources. The estimation and underlying assumptions are based on historical experience and other factors that are considered to be relevant Actual results may differfrom these estim*$. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the peri¢xS in which the estimate is revised rf the revision affects only that period, or in the Peri￿ of revision ond future peri¢xls if the revision affects the current and future pcfiods. In the viewofthe Trustees, no assumptions concerning the future or estimation uncertainty affecting the assets and liabilities al the balance sheet dale are likely to resu￿ in a material adjuslmentto tt)eir Carrying amounts in the next financial year. London City Airport Community Fund Charity number 1182642 Notes to the Financial Statements for the year 8nd@d 31 December 2024 Icontlnu•d) 3. GRANTS PAYABLE Charlty Charity Gategory 2024 Buildlng stronger, safer, healthier communities Alexanura F