## |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:||||(||||||||| ## ## ## ## ## ## ## ## ## ##