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2023-03-31-accounts

Col J M Facer ADC Ex Officio
Col B Shaw MBE Ex Officio
Col E J Butterworth Ex Officio
Col0 Stead OBE Ex Officio
Col D Amlot MBE Ex Officio
Col P Kitson Ex Officio
Col
Retd
ATucker		 Chair of Investment Sub Committee
Lt Col A Harris AAC Ex Officio
Lt Col Retd
DJo ce		 Member of Investment Sub Committee
Ma R Bramle
AAC		 Ex Officio
Ca t EWilson AAC Ex Officio
WO1 P Dockrell AAC Ex Officio
WO2 M Hale AAC Ex Officio
WO1 Retd
Keane		 Veterans re resentative

Holt's Military Banking Wilsons LLP Wilsons LLP Xeinadin Audit Ltd Rathbones
200 Fowler Avenue Alexandra House Statutoiy Auditor 30Gresham Street
Fowler Business Park StJohns Street 8th Floor Beckett LONDON
FARNBOROUGH SALISBURY House EC2V 7QN
GU14 7JP SP1 2SB 36Old Jewry
LONDON
EC2R 8DD

Unrestricted Restricted, 'Total Funds 'Total Funds Total Funds
Funds Funds ' 31stMarch 31stMarch
2023 2022
Note F
Income and endowments from:
Donations
and legacies		 2 242,534 147,276 389,810 368,225
Charitable
activities		 3 22,428 20,408; 42,836 19,838
Investments 4 266,639 1,517:
,		 268,156 218,742
Total income and endowments 531,601 169,201 l 700,802 606,805
Expenditure
on:
Raising funds 6 39,671 - 39,671 43,545
Charitable
activities		 7 473,454 168,401 ' 641,855 647,215
Other 8 9,864 - 9,864 9,041
Totalexpenditure 522,989 168,401 691,390 699,801
Net Incomeg/expenditure) before
gains/(losses)
on investments		 8,612 800', 9,412 (92,996)
Net gains/(losses)
on
investments 11 (785,407) (785,407) 426,890
Net income/(expenditure) 776,795 800 I 775,995 333,894
1
Transfer between funds
Net Incoming Resources before other
recognised gains and losses (776,795) 800 i (775,995) 333,894
Other Recognised
Gains		 and Losses
Net Movement
in Funds		 (776,795) 800 (775,995) 333,894
1
!
Reconciliation
offunds
Total funds brought forward 11,739,098 302,989 12,042,087 11,708,193
Total funds carried forward 10,962,303 303,789 11,266,092 12,042,087

.!
!		 I Note, I 31stMarch j 31st March
2023 2022
i
Fixed Assets,
'
Tangible fixed assets 10
investments 11 ', 10,826,145 ' 11,806,236
10,826,145 11,606,236
..!
Current Assets !'
Debtors 12 24,743 29,665
Cash at bank and in hand 13 454,314 281,890
479,057 311,555
Liabilities
1
Creditors: Amounts
falling		 due
within one year 14 (39,110) (75,704)
I
Net Current Assets, 439,947, 235,851
Total assets less current liabilities 11,266,092 I
I!
The Funds ofthe charity i
Restricted
funds		 15 303,789 ' 302,989
Unrestricted
funds
Desi
nated		 16 248,320; 300,912 '
'Other Charitable Funds 18 10,713,983 I 11,438,186 I
- Total charity funds
11,266,092 i
These financial statements
have been prepared
in accordance
with FRS102.
Approved
by the Board ofTrustees on .................
on its behalf by
FJ', Digitally signed by EJ
BUTTERWORTH
BUTTERWGRTH-a~aterzo)3.
T2T2ts:53082T
............and signed1'
.I

AS A T 3 1 MARCH 2 023
31stMarch ', 31stMarch
2023 ' ' 2022
Cash flows from operating
activities
Net incom+e/ expenditure/
per SOFA		 ,
'		 (775 99+5 333894
Adjustments
for:
Depreciation
Gains /losses on investments 785,407 (426890}t
.Dividends
and interest from investmenh		 (268 156}L (218742'"
(Increase)/decrease
in debtors
in year
Increase/(decrease)
in creditors
inyear		 4,922
~36594		 l 14419591
33514
Net cash provided
(used in) by operating		 activities ~290,416; 133,265
Cash flows from investing
activities
Dividends
and interest from investments		 268 156 218,742
Proceeds from the sale ofinvestments ' 1149882~ 995787
Purchase ofinvestments 955198 1016413
Net cash provided
by (used in) investing		 activities 462,840 198,116
Change
in cash and cash equivalents		 in the year 172,424 ' 64,851 ~
Cash and cash equivalents
brought forward		 281,890' 217,039
Cash and cash equivalents
at the end		 of the year 454,314', 281,890I --j

Unrestrictec Restricted!31st March Unrestrictec Restricted!31st March Unrestrictec Restricted!31st March Unrestrictec Restricted!31st March Unrestrictec Restricted!31st March Unrestrictec Restricted!31st March 31stMarch 31stMarch
Funds
,'Funds		 ' 2023 2022
f f
2 Income from donations
and legacies
Regimental
subscripbons
Association
subscriptions		 175,104
0		 112,771
-		 ' 287,875
'
0'		 283,680,
'
20'
Other subscri
tions
P		 5' 5 380 i
COIF Charity Fund 800', 800; 800'
Callendar Charitable
Trust		 2,500i 2,500' 2,500
Donations - Legacies Qi
1 :,Donated Services
Note 5)		 61460 61,460 59,080 I i "1
Other 2,670
i		 34,500' 37,170 21 765'
242,5341 147,276 i 389,810 I 368,225:
'
Total 2022 236 352
l		 131~873 368225
3 Income from charitable
activities		 1
Unused
Individual
Benevolence		 Grants 2,3791 2,379I ,750
Refunds 8,739, 5,548 i 14,287 428
i
Contribution
towards
grants/payments		 11,3101 14,860! 26,170'' I 176601
22,428! 20,408 I 42,836 19,838 I
Total 2022 i 3,793', 16,045', 19,838
4 Income from investments
Income from
uoted investments
q
Interest on deposit accounts		 265,216
i
1,423 i		 1,517 265,216
2,940		 i 218,719
'
23,
'
266,639 I 1,517' 268,156i 218,742
i
Total 2022 218,712 30 ' 218,742! i
I
5'Donated Goods and Services .I..
This represents
the services ofthe Corps Accountant,
Corps Secretary, Assistant		 Corps Secretary and
Welfare Assistant which have been donated to the Charity the Ministry of Defence (note 7). The real '
estate facilities used by the Charity are donated by the Commandant ofthe Army Aviation Centre. Due
to the fact that facilities used are owned by the Ministry of Defence it is impossible to place a market
value on them. The donated facilities have not therefore been included
1
1'		 in these accounts.
I
T
'
T

[Unrestricted, Restricted [Unrestricted, Restricted [Unrestricted, Restricted Total Total
Funds Funds 31stMarch 31stMarch
2023 2022
'
I E E K
:6 Expenditure on raising funds i
, Advertising 300
'		 300 I 300
:Fund Manager Charges 39,371 39,371 43,245'
39,671 39,671 ' 43,545
i Total 2022 43,545 43,545
7'Expenditure on charitable
activities
Grants to individuals (2023:60;2022:45) 89,659 89,659 39,147,
IOther grants
,'- General Purpose
Fund		 grants (2023:35;2022:44) 76,872, 76,872, 130,9461
-HQ OScers Mess grants (2023:52;2022:59) 35,049 35,049 i 49,054
, - AAC Association grants (2023:7;2022:8)
-HQ WOs 8itsMess~rant+2023: 10;2022: 10)		 2,060 12,874
7		 21060,I
12,874
'
I		 1,980
12,616		 '
', -AAC Sports
,'Donations		 grants (2023:27 rest, 10unrest; 2022:29rest; 4 q 76,300
20,000!		 25,000 101,300 l
t
201000 I		 125,136i
20,0001
',Awards, Trophies
&		 Presentations 6,648 9,898 16,546 i 13,232
:Sponsorship 44,569 I 0 44,569 39,333
'Repairs
I
'Functions		 3,385
6,354'		 10,535
74,115		 13,920
80,469		 '
i		 51,274
58,261
'Memorials 1,000: 1,000 i 7,597
:65th Anniversa
ry
Heritage - history book		 83,373
0		 831373
'
0'		 13,611
181
IWebsite
i
;Monthly website fees		 - I
I		 0'
720'		 930 930',
720		 247120,
'
7201
, Salaries (rete 5)
i Printing, Postage &Stationery		 I 1,054:
61,460'		 - 611460
1,054		 ' 59,080,
'
927
I
i 473,454; 168,401 641,855 i 647,216,
:;Total 2022 499,138: 148,077 647,215 i
f
I

9 Total resourc es expe nded
i
C JO Ol
C0
0 ~		 ti3 'e$ C0E
m o ro 633 V O 0U Total Total
31st 31st
March March
2023 2022
8
Costs directly
allocated to activities
Fund Manager Charges Direct 39,371 39,371 43,245
Grants Direct 89,659 197,560 25,903 4,210 482 317,814 358,879
Donabons Direct 20,000: 20,000 20,000
Awards, Presentations &Trophies Direct 6,648 9,898 16,546 13232.
Memorials Direct 1,000,
'		 1,000 7,597
Sponsorship Direct 44,569 44,569 39,333
Repairs to SeMng Personnel Faciliti es, Direct 12,335 1,585, 13,920 51,274
Functions ' Direct 80,469 i 80,469 58,261
History Book Direct 0 0 181
Printing, Postage & Stab'onery i Direct 1,054: 1,054 927
Audit ! Direct 7,920 7,920 7,200
Sank Charges Direct 531 ' 531 528
Website i Dirac't 930 930 24,120
i
65th Anriversary Direct 83,373 83,373 13,611
Database Direct 990 990 900
Sundries , Direct 1,143, 1,143 1,133
Costs apportioned to activities
Advertising Acbvity 225; 75' 300 300
Salaries Activity 46,095 15,365 61,460 59,080
Total Resources Expended 166,285 ' 360,271 109,276 6 795 48763 691,390 699601
Total 2022 131,855 423,550i, 33,591 59,460 i 51,345 699,801
10 Tangible fixed Assets
2023 2022
AAC Balloon f
B/lwd 20,599
Additions
in year
Disposals
in year		 (20,599$
Depreciation transferred from Army Air Corps Fund (20,599)
Depreciation eliminated on disposal 20699
Net book value cerned forward as at 31stMarch 2023/31st March 2022

11 Fixed asset investments
2023
Quoted investments
B/Fwd as at 1 April 2022 11,806,236
Less: Disposals at opening book value 2023proceeds:
'E1,149,882; loss:F13,565
I(2022 proceeds: F995,787; profit: F44,254) (1,163,447)
Add: Acquisitions
at cost		 955,198
Net unrealised
investment		 gains / (losses) (7717842)
Market value at 31 March 2023 10,826,145 I
Historical cost at 31 March 2023 10,441,893 I
Total profit /(losses) on investments were 2023 (F770,131),2022 F426,890
f..
All investments
are unrestricted		 funds and are held primarily for investment return
31stMarch 2023
UK I Overseas,
Listed Investments 2,507,751 I . 4,153,725
Other Investments 3,542,928 i 621,741 I
6,050,679ii~ 4,775,466Il!
12 Debtors
2023 2022
F
Other debtors 24,743 29,665
24,743 29,665,
13 Cash at bank and in hand
"		 4—
r
1		 2023 2022
Holt's, Royal Bank ofScotland 184,879 i 234,997 l
Investec 269,435 ' ! 46,893 I
454,314, 281,890
14 Creditors
Amounts
falling due within
7		 one year: 2023 1 2022
Accruals 33,657 24,076:
Accruals for~rants payable 5,453: 51,628
39,110j 75,704

15,;Restricted Funds 15,;Restricted Funds
Balance
Bifwd Balance
1stApril Transfers
lovement ofResource		 31stMarch
2022
f		 f Incoming;
f		 Outgoing
f		 I 2023
,
'		 Sports 25,000 ' (25,00/0',
: HQ WOs' and Sgts' Mess 105,464 39,750' (59,578) i 85,636
,'HQ Officers' Mess 197,525 209,583 '
, Website
'		 9,500 930 i
302,989 303,789 '
Balance Balance
1stApril Transfers
lovement ofResourcei		 31stMarch
2021f f Incoming
f		 Outgoing
f		 I
'I'		 2022
S orts 4,181 20,000 (24,181
I HQ WOs' and Sgts' Mess 102,512 37,238 (34,286)t 105,464
j HQ Officers' Mess 196,425 90,709 ' 89,609 197,525
302,989 i
.~Sorts
t This fund is used to assist Corps members in the pursuit ofspecified sporting activities. This relates to
'an allocation from the Army Sports Control Board.
t
' HQ Warrant Oicers' and Ser eants' Mess '', , i
: Members ofthe HQ Mess pay three quarters of one days pay per annum into this fund. The fund is '
Iused to enhance the furnishings and surroundings ofthe buildings and to support functions
throughout
the year for it's current and retired members. They also give support to the predecessors
ofthe AAC,		 i
the Glider Pilot's Regiment Association.
i Members ofthe HQ Mess pay one days pay per annum into this fund.
The fund is used		 to enhance the
fabric, furnishings and surroundings ofthe buildings and to support functions
throughout		 the year for
. it's current and retired members.
~ Website
' Fundi
from the Armed Forces
ng		 Covenant
Fund		 was received in the
ear
. Y		 to help enhance the AAC Website
in order to provide better communication
and		 interaction with the AAC Veteran community.

Y AIR CORPS
.Unrestricted
funds		 CHARITY - NO TE S TOTH E ACCOU N TS
+ .
Unrestricted
funds show a large amount		 in reserve which is expected to rise. This is due toapredicted
significant increase in grants and donations payable, as explained in the Trustees Report.
Balance
B/fwd Balance
1stApril Transfers, lfiovement ofResource& 31stMarch 1
'
2022f Incoming; Outgoing I 2023
t
General Purpose Fund 11,438,186,
'		 (140)000) 516,492', (1,100,695) ' 10,713,983 '
Designated
Funds
.AAC Veterans' Ass'n 49,397' j 20'
,		 (2,060)! 47,357ij,
,Glider Pilot Regt Ass'n
Sports
History Book		 3621
35,325, ,
65,300,		 140000 8
-l-
,719		 (1,400)
—
'----
(120,868)		 I
I		 2,221
76
63,1
65,300
Law Legacies
'65th Anniversary
AAC Website		 136,389
10,880		 6,370, (83,373)j 59,386
10,880'
117390981 531,601I! 1308,396 10,962,303
-+ —~—
—-
Balance Balance
en
d		 31st
+
1stApril ,'movement
ofResources		 March
2021 Transfers ' Incoming Outgoing 2022
/7
.General Purpose Fund 11,259,850
i		 ' (346,500) 884)789,
:		 (3591953)j 11,438,186'.
Designated
Funds
.AAC Veterans' Ass'n 51,357,
'		 j 20. (1,980) ' 49,397ii,
.Glider Pilot Regt Ass'n
, Sports
' Historv Book		 13,421)
14,966,
20,599,
'		 j
I		 44,882
161,500'		 511
i
428
j		 (10,311
(141,569)
(181		 t. 35,325
65,300		 i
ILaw Legacies 44,882 It 44,882
(.		 '
65th Anniversary 150,000 513,611) 136,389 I
AAC Website 35,000 24,120 ' 10,880I
11
075
,405,		 885,748! 551,725 11
098,
,739,
The funds ofthe charity include the following designated
'		 funds which have been set aside out ofunrestricted
funds by the Trustees for specific purposes: (