RF.GIS'I'LRED CO*IPANI' E,}IBER.. Ck'U22772 IEnglRnd W•le%l RF.GISTERED CHARI"I'I' l Lli IBf.R: 1190721 rt uf the Trustees iin#u(lited Fingnei#l Statemenis rvr the l'ear LndeJ 31 December 2024 for The Schools, Aeros ace C.'8r¢ers Pro ranime l.'lieeler & Co Lid C'h&MirLd .4ccouniani 'I"he ShTiibbery' 14 (;hurch Sircct i'hiichur¢h HLtmpshire RG28 7A13
The S¢hools' kl¥r.()s ce C-areer¥ Pru rarnme Conttnts of tbe Firt#ncial Siatements for the l'ear Ended 31 Dettmbtr 2024 Page Rtf¢rcnie And.4dmtn15trative Detail$ Report of tlit'I'ru5tees Independent Examiner's Repnrt Staletnent vf Financigl Activilies Bal#nce Sheet Cash Flow Stalement Not¢5 to the C¥¥h Flow Statemvnt otes io the Financial Staiem¢nt5 12 to 16 Detailed St#tem¢nl of Tr'inAiicial ArtiTrilies 17
The.%rhools' Aero$ p#¢¢ c.areers Pro ramD]e Referente #Dd Administrative l)etfti15 for the l'ear Ended 31 December 2(124 .1 RLISI'EES Dr Michael Smith MT.4drian Jon¢s -Mr C'.hri5tophcr Smith Elaine Il'hioe Gilli<1 N larshall Chair Trea5urcr and l)eputy Chair appnirtted 12.07.2024 RTr:GJ&>TERFD nbFICE 9 V%'nt Rvad BaRiiiostoke IlampshiiL RCJ21 %N'L. REC.IS'I'Tr.RED COMPANIY NL':.MBFR C.F.O?2772 IEn¥land itnd Il'alesl RF.Gis"fERF.D CIIARITI, )L'hlBF.R DLPENDF.N I. b:x.4.jll5ER WhLLILr & C.() r.td CharteTed AILuiintant. Ihc Shrubbtt Whitchurch Hatnpyhirc RG28 7,IB Page I
'I'he SLh(Fol%' Aeros ate C.dreers Pro rajuffle Ke ort uf the Tr1151ees fvr the Year F'Dded 31 Dtttmber 2U24 'I'h¢ truslecs whn ar¢ also diTeLlnrs of the chJritv for the purpv5CS Ot'thc C.ompHnies Act 20t16, present Ihcir ieport with tlic tinanc131 staleJnLiils olthe ¢harii>, fuT the vtar ejided 31 Dccember 2024. 'fhc tru%ieeR hal'e adL)piL,d the proNisiun% of AcLounting and Reponing b), C.haiilits.' Statement of Recotnnicndcd Praclice applicablc to charities prL'paTing IhLir accoiints Jll (ICCOTdance w'ith tlie F'-inanci21 Reporting Standard applicabl¥ in thc LK and Republic ot 5reland 11.'RS 1021 l¢fltrtivc l January 2019}. OBJEC.TI'ES,I)D..ICTIVITIF.S Objellives and aims ror Ilie publiL bLiiefit, lo advance the cducarion of young pcaple hy pronioling, su%taiiiing and IllCTea5ing tljeir individual and LuIIL'Ctive k'tiowlLdge and understn]ng uf cnEineerin¥, aviation and T¢lared SLIL'nte% vsa the mLdiurn of aero%pa¢¢ and in%piriiig Ihcni lo pursue tn¥ineeTiiig at)d a111 rclaicd care¢rb. Mie Trustee8, hawing had rcgard olthe EuidanLL Issued b). tlje Chdrily Commi.q%ion on public knefit, hai'e desigrted the Schooi8' Aerospacc C.'areer% Programn)L lo undertakt thL lull0..1jig.. excite jvung pcople'% inter¢sl in engineering gencrall}', dnd a¢rnnauliLs and astronaulJLS Sptcifically., InlvTm t]ieJn of Ihe relalcd cTrellr and potential career opw)Munilie5 available., ¢.¥plaiJi the route5 into thos¢ ¢ureers, and proiidc a rcgu12¥1) updated source of 5uppori mdteTial.- build a highl! aLlive rtetmork of indii'idLials ajid organiz4ttions ihar will asS151 Ihe%c )'thung people Lnler and progTCSS thcir CaTeer5. and. most imponani of Jll, r¢cognisin¥ the chroniL ¥hvrtd¥e of eiigine¥rs in thc I,. and Ihc serious Ittis-conctptio b thc majorirn. of young pcoiile acro55 all s()Cln&econoinic (Iiid ethnic backuv¥inds of the ac¢¢ssibilii}' of the acrospac¢. space and aviation industrie%. bring }'oiing pcc)ple face-to-loce M'iih poiential vmployers in industry. With tlie later point In tnind. according to Engineeringl'K.. "ThL nuinbey of new. enginecring apprenliLes and graduates in ihl UK per year will nced to double to tncct Ilie ourr¢nl TequiremL'nt of 180,OnO bnnuall}'. l-here 15 a sli()rifall of 54.000 5kill¢d ¢ngiiieering profL'55ionals eacli )'car, bui it. that gap ¢vuld be filed it is cstimaied li iloiild gcntraie an addiliunal £27 Billion p¢r vlai for tlic Lk eiononi}'. Illmost kalt. of bilten I l 19 years old %av thc) knov little nr notliin¥ abuul H'lial etJKin¢trb do. This lack uf awarene%$ is Luinpoundtd by tlic fact that niost STEM Icachets 4rE not fmm an eDgineerin¥ bJckground and ¢ai)Iivt talk wilh genuine aiiihuril}' nn the topii. The Alnl ol the tharity is to, iii its $niall Hayy help fjll that gap and so contribute in a rybnst valid? l)rlictical nd megDingful tTr the IIK etuThomi' and bv extensioJJ to st)ti¢ty' as a whole. Tu do so li8.e d¢%'is¢d three elem¢nis'. an annual Todd-show of tiine fdct-to-face Preselltations around ihc LK ro gTOVP5 oc Indepeadent and bldle schools undertaken at s¢leclLd'hosl' %thools' nnual hatTrds-vn En¥incering W'orkshops undertaken inilially ar Shuttleworlh Crjllege atjd assisicd by th¢ RAF Museum., folloiY-(?n NleN'ork which includc% tncntoring and Jnier-actii'c supp()rf b), indiistr). and associated tradL and prolcs%innal bodie¥ w'hich is opejk to all vuung people Lip lo the age of 18 ia thciT sLhool%, and IhLTcafter in tlieir vwn righi: thL %chool% and 411 VTgani%ations Involved ill and 8UPPOrting the charit).. a websire and .4()cial mcdia policy designed 10 prvvide a continuous floiv Of relevant infornidli()n lo oiir ben¥firiarie5 I'hc SAC.P do¢s not make grants. The SAC'P'S policy in Tespecl of InVL.hn¢nt is ds fvlluw's.. 'To asS151 the del'elopmeni of the long-ILTm financial security of the ch2fiiy ond thc ability lo fund une¥peGted bul ess¢nlidl Lircum5tances. .411 aciivilies arc currenily undcriaken on a no cost ba815 fnr the young pcople iiivolv¢d. Page 2
"I"he schools, Aeros 4tce Career¥ Pro ranime k¢ orl tsf tbe Tru%tees for the Yegr b'nded 31 Dt¢vmbtr 2024 I"RA TF.GIC' REPORT Ilchievtmtnt and perlorfftance Building on MhJt we achieved as reLOTded in ilie pr¢Nious Annual Report wc.. In¢rEascd our database of school% to oier 700 LIK-wide. Continued th¢ rL'organi.4ati()n of the SACP In Te.%p¢cl of tsiana¥eTnent, operations, and Trustee repre5cntation. Cvmpletcd 30 pre.genlalions to 90 schools, invol1n¥ active engagemLDI w'Trth oi'er 4.500 studL'nts. r)es1 Jfj td aR(I launLhcd a nei H'Lbsitc and a8lOtiut¢d soiial tnl'dia platforins. l-h¢ Hehsite proi'tdeb ¢omprehensive Inlorniatioii about exisling and potential future carceri, technologics olthc 4th Indu5tridl Rcvolutioti, and haiidpiLked articles of inl¢rL%t. Cunlinued ID incrL'd5¢ Ihc iiumber tsl'Lvnipanics supporting Ihc 5ACP. Iltt¢nd¢d FdTnb()rouoh Iniem&livnal and Ptterborvugh STENI Fe£tival 2024. .4equir¢d tlit Boston D>Thainic5 quddrupcd robot 'Spoi'. and devLlopcd a %tand-alonc large largage mudcl N'oice io i'iiict svstem, eiiabliT)g Spoi lu %p¢ak. ,Icquired a cumplcre audio-Trisual s>%lern includiiig spiakcTS & niicropliones. as wcll as I I AR(VR.Meti Quest 3 sysl¢a15 plus relevanl software. Acquired Lusloiii built travel cascs for all equipmenl uscd during l)reseni&iiiun%. Addcd a fhori aLLrediled Introductori Coursc lor %tud¢nts to complclc thTnugli APLiK, Iviih 3a candjdales passed through iii daT¢. C.ontiniJed discussiun% ltI1 InembErs uf the aerospa¢¢ industry concerning financial &ssi%tan¢¢ and scrvicc£i%upport in kind FiDancil rcview Principal fundiog Sources Privtsle &. corporaie ponsOrS are the main SOUTces of fiynding. Invt*t]nent policv And objeclivv These are os 5ralcd in obJctliN'e5 & aclivilies RtstrTres policv lu eiisure ihe 51iurl aijd, separaielv, lonEcr-tern) liqijidity and financial indepcnéence of Ihe SACP. Funds in deficit Therc arc no funds in dcficit. Funds hild #s custodiAn tru&tee on hehalf of oiheFS There are no funds held on behalf of oihers. Pag¢ 3
The.Srhools' Aeros 2r¢ Chreers Pro ramme Re tsrt of the'I"rustet. fDr (he l'ear Ended 31 1)erember 2024 STRAI'&:G'JC' RLPORT linanciAI #nd risk managtm¢nt oiijeclive% polÈcies The I rustccs aekno%l¢dge that thc identification ]d rnanagement uf risk to the SACP is their T¢sponsibility. Consequentl!. a dctailcd Risk Polic), and as%ocialed dLiiun procediire$ 1.4nnL'xcsl hae becn crcatcd. klGcordin¥l)'_ again¥t Iht aim of SAC.P Ihc Tru%tcc% annuall}. reviL'W' aiid a5se55 IhL ri%ks Ili¢ StlCP fJ¥¢s in all arexs of its work, and plans accordiIi¥li fL)r the managemcnl ot tho.se T15ks. It'neLLSStitN', r¢piews AfL uiidertaken withix] ¢ach 12-monih pcriod. Idenlifyithg Ri¥ks As d mininiuni, the l-ruslee5 Collstder 2$ part of the ideniifiralion proce%, the following.. the SIIC'P'S aini, policies and stratt¥lLS-. IhL' naturc and scale of-IhL s.ep.% aclivjiiLJ- the OUlCLimc5 thar nccd tn be acliicvLd, ¢xlcrnai racTors Ihai niiglit affect the SAI'P, such as legisldlivn and Ttgul2lion- tlit SACP'b iepuiation Thiih it5 major tiinder5 nd sUPP()Ticr%, d£ appropriaie. PdSt mistake£ and problems rhat tli¢ SAQP has ftted., tlie op611g structure.. IUT ex3niplc. subsidiary trading Canipanies lil. & when appli¢#blell, ur venlurLS (if & .hcn applicable)., 115 rclation%hip with oihL'r orgaDisations. Assessing Rik Iti aTI driempt to take a¢¢oiin1 of all facirtrs, forcsten and IioteJili81. IhL following 8ss¢syment rnethod has bcen adopred.. likeliliood x impacr impact. 'I-hc cflect is ro oivc Lxtra emphasis lo Itnp&tct w'hen asseising risk. Additionalls, il 1.% re¥bir¢d thai risk sloring often InvolTres a dogrte rtf jijdgemcni or.&ubjecrivilJy ¥U w'here iiiforinaiivn on past events nr patterns 15 dtrailable thjs is Taken into aC¢OUDT if appropriate tlierebN enahliiig Inore cK'iden¢ed-based deLl5ioll5. Furthermor¢, M"hilst a focu5 on high-impacl risk is iinportant, Truslccs dv not forgci thai what might be a lowcr impacl risk can change to I'LTI high impa¢1 risk bccau.ie of the PL)5sible ¢onneclion beiiv¢¢n it liappeniry¥ and triggering Ilic occiirr¢n¢¢ uf other risks. DeLiding Sub5e(ru¥nt ilction I'here In&TrJuf Tisks are id¥nlilied the TTUStee5 will ensure Ih2t appropriate actTOII 15 being ittken to nian&g¢ them. Tlie risk rcview includcs &%.Eessing lioii. eff¢LliN'e exisiittg Lunlruls arc a% w'¢ll as con%id2ring an}. addilicinal action Ihiil need5 10 bc taken, eiilier b} Itsscning tlie likelilioud ul'ilie event o¥Lurring, or les%ening ils impact if 1t does. Risk managemeni ]% diined at Tedu¢ip.¥ the 'gross' leF¢l ol. risk identified 10 a 'nil' lei.'el of risk,. in utheT words, Ihc T15k- Ihdt remain.s afier approi)rite action has bccn taken. I rusie¢5 will tonn J I'le as 10 Ihe atceptabiliiy vl'the net risk Ihat retnains aller nidnagenient. In a$5¢SsillL aLtiun to bc taken, the costs of manag¢mcnr or Lontrol will bL ¢onsid¢r¢d it) th¢ ¢onlLxt of th¢ polcntial Jmpacl or likels, cost thai ihc coniri)15e¢k5' 10 prevent or miri¥alc. Il balaiice ¥111, Ih¢rtfore: need lo be struck betllL'cn tlie cosi vf fiirther action lu illana¥c ihc rjsk ad ihc potential Impact of ihL' fL51dual risk. Periodic IlIonitvriy]g & Assesstntnl "l-hc 8.4C.P prnccss enSUT¢S that.. new risk5 are PTÉ)perly repori¢d lind eNaluated. riik aspects of SiEnilicdnt new projec15 ¢irc considered a5 pari ofproje¢t appraisals,. an) signiticant failurcs ol-control sN'51ems drc proi)erl5' repvri¢d dnd action¢d., theie is dn adequate leN'el of undL'r£tandin8 of individual rtSPOnbibiliiits fur boili implcmL'nt2tion and moniti)ring of the control Syitcms.. ali} further actions rcquired are ideniificd,- IruslLLs consider alld reN'ieM' the annual pr()Le54 It%elf., Iruslees arc pro%'ided with relevant and timel) interini repons. The Ineiliod of CLidilj'ing such approacli bj the SACP i% thTnugh the ol. a risk registei. Tlic rcgi%ler pull.s iogetheT the ke) aspeLIs ol- dic Tisk inanagemLnl process. It schcdulc% risk-s their assessnienl. Ilie controli tn placc. and lh¢ nct TTsk%, and Ilien id<ntific.% re%pon5ibililie.4. monitoring procLdurcs and Ilie (vlloii-up actioii required. Page 4
The Schuul&' ace Cxreeij Prv ramme Rt nrl of the'l'ru51v for ihe leAr Ended 31 1)eeeinbtr 2024 STRATF.GIC REPORT The StlLP Trusiccs w'ill monit4)T T15k by.. ensurinL Iliat the identifjcation. asscssment and rniligation of ri%k 15 linked lo ihL dcliiei'emeni of Ihc SAC.P's OPLfaiioTial objeclivL% dnd nTr'¢Tall aim-. ¢T15urine Ihai the as5e4sintJJl pruces5 reflccis ih¢ Tluslccs, view. Lif a¢Lcplable risk., reviewing and con%idLring the rtsulis ()frisk idtntificaiivn. ¢%'aluation and managLmcnr', recL'iving inieritn reports ii.hcrL there is an ncLdTng furilier &Cliun- con%ideTing the ri%k% attached ro signIficaTIt neTh' ailivi11¢5 QT QPPOrtunities-, r¢¥uldrl}' con£idtring cxtcrnal fa¢tors siich as IIL w. Icoi4latlOTi or nL'W fcquiTemenls from lunders (in terms ol-both casli dnd d55jYldncc-in-kindl', collsideriiig ilie financial impact of risk as part af operaiional bud¥vl planning and_m£TrJ)ilDriE)v rhcre 14 no requiTcnicnt tnr this risk 51alemeni to he audite4J bccause ncj requirements oulsidc nf the C.hdritic4 Acr 2011 as Jei appl).. STRIJC.TiIRL, GOI'F.RNANC'k AND MANAC.Tr4illk.Nl' GuerDIng d¢btumtnt -lkne charily is cuntrolled b). itb goi'erning documenr: Ihc C.on_4titution of a 'Charitabl¢ Ineorporai¢d Orgdnisatiott. Change of name 011 27rh fvldrLh 2023 the Sand) (yunn Acro.space C.ar¢L'rs Programm¢ changed it5 namc to 'I'he SLhools' Aerospace areers Prograinme. ThL Iru.%l Mas also a5 SGklC.P but. 5incc 27th March 2V23, i5 also now knts as SACP. Indu¢lioH And training of new, trusltes LILLIL,d l?J the Ho&rd ol Tru%lee.% folloi%'in&J a profc55ional recruiimLnt projcct led bv l)r NlichaL'I Smith ,hO ha5 al least 11),OUU hours of 11)ieiTrarinnal tXLLulive rtcruiinjenl dnd LuachinLY intervie1¥ sUPPDrted by a ProfessF(Trtsdl l)ocioraic Jn rho%e joint Subjects. Addiliijnal govern#ncc i55ues Tjic Board of Iriislces 1% ultimatel! re%piillsible for all dSPUCtfi of the Prograrnme wilh planning and day-to-day rnat]a¥Lnicnt & operdtions delegaled to Dr l4ILhdL'I Smitli alid .4dTian Jnne%,' the former is assislcd by an outsourced support leani ol-thrce. £ACP Policies & Procedures covcr.. Health L. Sa(eiy. safcguarding }'oung PL'I)pIt. Data protcctian. GoN¢rnanct & Board procediircs - Jnvestments &. rcscTr'es Fund raising. Risk & disdstcr recoi'er)" The Pr¢s¢I)laiions & f%etwork. Digital Support, Web5ilL & Social Media Rci'icws. Res¢4rch. Careerb advice. lanarpement & a(Jniini.sirarian Includiiig financial. ThL iiiduction &. ITaining ot T%1¢¢5. All pvli¢ie5 and procedures ivcrL last rei'ieM'¢d, and upddlL.d a% ncce5S8J), on 31 Deceinber 2024. Pagc 5
The Sthools, Re rt ofthe Trnstee5 fDr the Year Ended 31 Dtt¢ 2024 Rcport of the InJsiet.s. inc4)wratttig a sth*eg(¢ rcpori appmv¢d by ordetr of the board of as the company (yn 3 July2025 5igtt¢d Ipll the board's behalf by: Jones Page 6
i'iidenl Lxamiiier's Re vrt lo the Trustees or 'I'he SLh()n15' .4er(F5 dce Lareers Pro raniine Independent exami¢r'S repori tv the tru$tC¢5 of The Sthno15' Aeruipare Lareers ProgrAmme ('the C.nn]panv'l T repon io the charitv truite¢s on niy examination nf Ihe aciounis of tlie Qompan for tlie }'ear cnded .31 l)Lccmbcr 2ll24. Re5poiisibiliti¢% and b%si¥ of report A% ihe charity's Irusiee.E of IIJL Cumpanj land also its direciuTS for the piirposes of conJp2nTr lawl y(>u are resptsn5iblc for the prcparation i)f the aciounl% in accorddnce with the r¢quircments vf ihc C.omp2ni¢s Aci 200() (the 2006 Act,). 14ai-ing sati%fied my5clf thal the 7CcOunt5 of the Cvmpanv are Jioi requircd to he audilcd linder Part 16 of the 20U6 Act and are eli¥iblc for indepLThdcnt ex2rniJialion, I repnrf Itj rlspect of In exdtniiiation of }our Lharitv's accoiinls ds Carried oiil under Section 145 of the Charitic4 Aci 2U I I I'iht 2011 .4il'l. In caTThing out tnv c.¥aminaiion I ha'e followtd the l)irecijUt15 giv¢ii bj Charitv Coinmi55ion under Scciion 14515 j {bl ot. Ihe 2011 Act. Independent cxAmilltr's statelent Since your chdrily'% gross illLuHie exceeded £2£0.000 SOUT cxaminer rnijst bc a mtmber i)f kj li%led bodv. l liln eonfirrn that l am qualified to undertakL IhL exaniinaiivn bccause l am a mcmher nf the Instiiule nf C'huriLred .4ccounlanis in England and 'a]e.%. which is Oiit of tlie Iisicd bodies. I hai'v completed rny cxamin211on. I confirni that no rnatt¢rs hav¢ coine lo niy aticntion in conncLlioll witli ihc txaniinaiiun ¥iving me causL to bclieve.. acLoulliiiig records w¢r¢ not kept in rcspcci of Ihc Company a5 required by Scciion 386 vf the 2006 Act., or the acii)Iini& do not accorij '1th those record5. or Ihc actouiits do ni)t coinpli. with the accountin¥ rcquirement5 of 8cclion .396 01. (he 2006 Ail other tlian any reqijircmcni thai the aLLULints give a trii¢ and fair which 18 nat a matier considered as part of ai) itJd¢pendent cxamination., Dr lh¢ dCO11nt4 hai'¢ noi bceii iireparcd In accord8n¢¢ with the mtihods and principlcs nf tlie Siaienient of Recomtn¢ndcd Practice for accounting and rcprjrting b} Llidrilies lappli¢abl¢ to chariiie5 prcparing their atLountq Ill itccurdaiice wilh Ilie Finanrial RcpottinÉ %tandard Jpplicable In th¢ L,'K and Republic of Iyeland (FR£ I n211. I hale no roncern$ 2nd have come across no oiheT matters in CODnccrion with tlie examination ro which dllLntiL)n slioiild be drawi in ihi5 rcport iii order to cnahle a proper underslandtng vf the accounls to bc reathed. K¢Nin Wheeler FCA The ljislilule of Chartered Accountants in England and W'alcs M'heelej. & Co Ltd C.hartcrcd.4ccountanis The Shrubbcry 14 Church SITCL't 11 hitchurch Ilampshire RG28 7AB Dalc.. Page 7
'ht SchDols' Aeros Le Caretr5 Pro ramme Statement of Fin2ntio1 Activities ror tbe lear F.nded 31 Detember 2024 2024 202.7 LnrestrictLd fund runds IINC.'ONIE AND ED011..ILlT FRO.T41 l)onalion5 and legaGies 250,000 J20,114 Other trading activi(i¢s Invesimenl income 20.2.?4 9,253 32,619 Total 282,619 349,()0 I EXPk,N¥DITURE OTr4 Rai%ing funds 5.046 Charit*ble acttiitie$ SLhool pre%eniaiion cosi% Websiie cosis 126,905 77,022 OthL'r 898 Total 94.177 ILT INCOfvIE 120,9G4 255,424 RECONC.II.1.4'rioN OF FIINI)S Total funds brJu¥ht forn¥ard 925.656 670,232 T(ITAL Tr'L,'NDS C.'4RRIED FORWARD 1,046,620 92£.656 Tlie nc)ILs f()Trn Part of th¢be financial siaiemcnts Page 8
20 2024 2Q23 iIDrtiGty] Totsl fuDd It 8 io J02J06 138.451 CURRENT AgsrTS 944.774 787.805 CREDITOKS 16N)) 16rK)I NET CURRENfA&SETS 944,114 787205 TOTAL L85m LESS C15RRENT LIABllXllL8 I.iW620 925,656 NET ASSE15 1.146,020 925ffj56 13 1.046.620 925,656 TOTAL FifNDS I,(46.0 925,656 Tbe ¢hmbl¢ c4)mpaDy ts eatitled awlit wJd¢r Section 477 of tbt CoThwie5 kn121K)6 forthe y ended 31 Ikember2024. Thc have w rrquThl the to obtsin WJ audit of its fin8n¢ial %tslenws fLY the yetr eJJd¢d 3] LX%eth2024 in atcordw Se<tion 476 of the CoTh¥8ttiesAct 2(NJ6. Tht tr[tt$ theirresponbilities for ensllrin8 th¥1 the charitsblt eompw ke¢ps actOUAlin8 tt£4)rds thai ¢otllply with Srytions 386 ttd 387 of the Ibl preriDg s18ternents' whi¢b give a trlle 4nd fair view of $tsle of of thc chETStable company as et th2 cnd of t4cb fin)ncid ye8r $tsl of its surp15 defi£ir for e&£b fiDzn¢ial year in oco)rdHnce with tbe 4[<nnts Df Scctiims 394 4nd 395 vthich othmvis¢ cornply with the r4uircmcmts of the Cott4)Rnieg Aet 2006 r¢laiiDg to statcn¥rf& 30 fara5 appljcablc to the cJwitsblewwaRy. The fJtwThrial ststenMts vRte oppMwl by tbe Br#rd of Tru8te¢g Ènd JuthoJi5rd for iqfU¢ oll 3 Juty 2025 and weye yiyrJJ on iLFby.' A F JonE5. Tntte Th¢ nores pAnof these ftnan¢il Pa8e g 11
The Schvo15' Aeros re Career5 Pro r#tnme (.ush F'l(kw Statement for the I'egr Eiidtd 31 Dt¢¢mb¢r 2024 2024 2023 c.ash flows from operAtin% attii'itie Cash &enerated from ThpeTaTlOnS 1.37.7.16 297,.770 lict casli proi'ided bv operatiiig activities 1.37,736 297.i70 Cash flow5 from ini'esting artl>Lties Purchase of langiblL' lixvd assct5 nlLILsI rcLcivcd 113.3861 32.619 11 ¥4,4341 Net cash proNYded byi(u5ed inl inNtsrinÈ activiiics Cliange ith tx¥h and cash equiialents in the reporting period Ca4h 2nd cg41i eqijivalents at Ihe be%inning of thv reporting period 156,969 522.189 787,804 665,016 Cash #nd tash equivalenls at the end tsf the reportittg perivd 944,774 787,80 71ie notes form part of Ihe5e finanLldl stallmenls Page 10
The SrhoDIs' Aeros 3£e LaTc¢f5 Pr(b rAmme Ni)tes to the C.'a&h fr'IDW Statement for th¢ l'ear Ended 31 Detetnber 2024 RF.CO)CILIATIOIS OF )ET INCnNIF. TO,YE"r c,ISH FLOW FROM OPEILITI)C. ACTI I"I'ILS 2024 )et ithttsTh¢ for the reportin% period lay per tht 8tatement of Tr'inAn¢i#l A£tlVLties) Adjustments for.. Depreciatii)n chargye5 Inl¢r¢sl rLLLIN'cd Decrease In stocks Dccreasc in dcbrors IncreaseildeLreasLI in ¢rcditors 120.964 255,424 4.% C)81 19,2.5.11 4.137 6.500 15,4211 (32,619} 60 let ¢J5h proTr'ided by oper9tioiis 1.37,776 297,370 ANAI.YSIS OTr. C.'IIAJGLS I.Y NKT FLNDS Casli floH' At.31 12.24 et 1#sh Cash ai bank 7¥7,805 156.969 944.774 7¥7,805 156.969 944,774 I'otal 787,805 -%6.964) 944,774 The notes fonii part of these financial 5lai¢JllentS Page I I
Tht S¢hools' Aer05 ace Car¢er5 Pro rgmme Iyotes to tlio Finxniial StBtemeiits for tht l ear Endtd 31 Deieillber 2024 ACCOL,YTIJG POLICIES of pi'¢parin% Ihe $tatements The financial sldiem¢ntb ol. Ihe charitable ¢VTnpanJ, M'hich Tb a piiblic benefit enlilj linder l.-RS 102. have b¢in prcpared In acGordanct w'illi IIIL Chdritie5 SORP IFRS 1021 'Accuunting and Keporting bi. ChariiiL%" Statenieni of R¢oomTMcnded PracliiL applicable to LliaTItI¢s prepaiin¥ Ihcir accoun15 in accardaIice 1[17 tlie E.-inancial Rcporting Standard applicablt iii tlie IAK 3nd Republic of Irelarjd (FRS 1021 {cftcctJNe l Januarn. 20191, '-inanLiiil Rcporting Standard 1112 "1 li¢ Financial Reportin¥ Standard £ipplic#blc in th¢ L.K and KepubliL of Irelat]d' and lh¢ Companies Acr 2006. '1'he findncial statejnenls have been prepared undeT th£ hi%ron¢al cosi ionvcnliLTrll Intome All inconJL' 1% recogiiisLd In Ihe Sialetn¢nt uf Financial ALlivitics ttnce the chdriN lias eJ)tillcn)¢n1 to th¢ funds, it is probable tlial IhL tll¢onie i¥Jll h¥ received the amount can bc Tllea%ured rcliablv. Exp¢nditure l.iabiliiics are recogni.%cd as expcndiluTe ai soon theie 15 a leg41 or constrncti%'¢ obligatinn commirting thL' ch2rits' lo that expendiiurc. it is probabl¢ Ihal a transfer tyl- economic b¢nLfiis .11] bc reqiiircd in scitlgrneni and the din(iunl of Ili¢ obligation Lan bc Ineasured reliabl J. F.xpendiiure iy aLttsunled for on accrua15 basis and has betn LIsIr1¢d uijder li¢adings that orc8ate all ¢051 rclatcd In rhe baie¥uTr Wliere Lvsls cannot b¢ dirccilv aiiribiiled to Pdrticular h¢adin¥s they h&v¢ bccn allncated to activitie* on & bas15 con5jsienl with the ilb¢ of rcsources Tgngible fjxed g%$tt4 D¢prcciation Is proNidcd 2t thc folloming 3nniial rat¢b in order to wiitg off each a55el ovcr its C51imatid u4efiil P12nl <lnd rnachsnery Motor 'ehICleS 250/0 On ¢OSt Capital ilems under £2,500 arc i¥Tittcn off as an exp¢115e in ihe y¢ar ufpurchase. -rgxation Tlie charjl). is cxenipt from Lu]yor2tinn tax on 11% ¢harirable activitie%. und thrcountitJ2 I lJirestrict¢d fuiid.% can be used in accoTdanct with the charitable obje¢tii'es 21 thc di4cr¢tion ul'ihe tru%l¢es. Resiriiltd funds can vnly bc u%ed for panicular r¢51ricitd purposes w'ithin th¥ objtcls of th¢ chariry. Kestrictinns ari.se illien sp¢Lified bv th¢ donor or Hhen fund.% arc raised for PdrtlLular reslriLi¢d purposes. Furthcr cxplanalion of the nature and purpn.%e o(ea¢h fund I. included lli Ihc noie% to thL' fin2n¢ial stai¢m¢nts. DONJl"I'JOYS AND LEGACIF.S 2024 2023 Llonations 25U,000 320.114 P4gE 12 Lontinued...
Tlie Schouls, Aero.5 iare Cgretr.s Pro to the )-inAncial Statem¢nts- continiicd for the l'ear r.nded 31 DeLemb¢r 2U24 OI'HER TRAI)I.YG ACTtVl I'IES 2024 2023 Model kil sale SalL of display asscl 5,2.34 1.5.OUO 21J.234 INIIEST,MF.NI" I]YCOMF. 2024 Dcposii aLLiTrUOt interest 32,619 RAISIYC FLNDS OtILer tradinR attiwilies 2024 2023 Purchases 4,137 Ini'estnjent niaiiag¢rnent cost$ 2024 202.; Portfvlio management 909 Aggregat¢ amounls 5,046 CHARII"ABI.F. ACI'II.'ITJES COSI'S Support costs (see noic 71 Dircct Cosis Tota15 126.058 847 cbsire c05ts 126.905 3.3,569 l i9,6:7 847 160.474 PagL 13 Continued.
The Schools. Atros ce Career* Pro r#mme -Nvte5 to the Financial SlatetuentS- COtLtinued fvr the l'ear Ended 31 December 2024 SI.'PPORTCOSTS c)0en18nic Fillancc roials Scliool presentation ¢n51S 127 720 47 ET IJI.'O.MLI(EXPF.NDITliRE) Nei incofti¢.:'lexpcndi(urel 15 Staicd after charging'{crcditingl'. 2024 2023 I)¢precialion owned asscls 49,-1.31 45,983 I'Rb5TEE.S' RF.MUYEIL4TION AND BbiNEFrrs rhere wcre no trustees, rcniuneraiion or other beneflts for IhL year ended 31 DeLcmber 2024 nor for ihe year ¢nded 3 l D¥L¢tnbcr 102.1. Trusiees, expenses 'I"he Ira¥cl, actnillrnodalion and other opeTaiing costs wer¢ rcimbuT%ed to the following trustees.. Dr M Smiih £1,427 12023 £1,271) 'rANGIBLE FIXF.t) .yiSSETS Plant and machinL'rv vehi¢1¢5 Totals Al l Jdnuttry 2U24 Additions 127,057 57,377 184.434 Ai 31 December 2024 140,443 57,i77 197,820 DEPRF.CIAI-ION Ai i January 2024 Ch3rgt tor year -11,764 14,219 14,220 45,98_- 49,131 At I I l)c¢¢mber 20?4 66,¥75 21¢,439 4b'l' BOOK VALLJ At 311)¢Lcmbcr 2n24 73.568 102,506 Ai 31 Dccember 2023 95.2Y3 .158 138,4<1 Page 14 cunliiiued...
'rhe Schvvls, Aero ce Core¢rs Pro ranimt otes lu the Financial SiytementS- tthntiniied or Ihc Tr'e¥i' Ended 31 DEcember 2024 ii. C.ASII AT BANK 2024 Toi31 fiinds 202) Tuldl fvnds Baiik current 2LiLiunl InvLstnicnt account Bank communilv account 1,¥48 932,926 732.989 463 Total 944,774 787.805 LRLDITORS.. AIMOlllS'fs FALI.ING DUE WITHIf OTrE YFAR 2024 2U23 Accrued cxpcnses 660 600 13. MOVL.VIEIYT IN FIINIDS N'ct moveinenl in lund At 31.12.24 At 1.1.24 linrestricled lunds Gcneral fllnd 925,656 120.964 1.046.620 TOTAL FL,YD 925,656 120,964 1,046,620 Nel mvi'crllent in funds. Included in ihc above are as folluws.. Iniurning re%niirces Rtsouri¢s Lxpended i 0'ement iii funds Lnrestrlfted funds lien¢rdl lund 282.619 120,91)4 TOTLIL FUND ?82,(?19 120.9CI4 Cvmparatives for movement in funds movemcnl ln funds At Ai 1.1.23 ..nr¢stricted funds CJcner31 fund 670,2.?2 2_$5.424 925.656 TO'1'.L FllIND8 670.232 255,424 925.65C) Page 15 coniinued...
11)e S¢hotsls' Ilero_ ce CArttr¥ Pro ramme Yotes to the Financial.Statements- ttsntiniied for tlie I'Eur Ended 31 DeCeber 2024 13. .NIO%'EP*lF.)I' IN FI,'NDS- ¢(Intiniied Coniparativc nei tnovcment in funds, incliidcd in th¢ abovL are as follows.. Incoming rc50urces Resouic¢s cxpcnded Movetnenl iii funds L"nrestricted fund¥ General fund 349,601 1()4,1771 255,424 TOTAI. Tr'L,NDS 34(),601 194,177) 25i,424 A cllrr¢nl s'ear l L montlis and prior )'Lar l L rnonths COTnbincd pasiiian is as foll0Th.. mc)vcm¢nr in hlttd At 31.12.24 Ai 1.1.23 I"'nrestrirted funds Gcneral fund 670.2:, 176.388 1,046,620 TOTAI. b'lDs 670.2J2 -i76,-18¥ I,Q4(),62D A currcnr veat 12 munths and PTiOT l'ear 12 llinnthf CDinbJnLd nt1 niovenient In funds, included in Ihc aboi'e are as follow5.. Incoming resource5 Rc50urcc. expen(IL'd NqovetnLnt in fvnds lJnrcstriited fund5 (Fcncral fund 632,220 12.55,8321 376,-388 TOTAI, FLT.NDS 632,220 (25_5.8)21 376.388 14. RELATED PARTI" DISCLOSiIRF.S -Ihcrc iiere no related parlv tTanqaclions IOT ilie l'ear elided 31 Dccember 2024. Page 16
The SthDvls' Aer05 ace Cgre¢r$ Pro rarnme l)elAiled Stateini'nl of Fin2ni'ial ActiTrilie5 for the Y¢8r F.nded 31 Decemljcr Z024 2024 202_1 I.%'COMF. AND ENDOWMFNTS Donations and Itgaciey Donations 50,000 320,114 Other tradiDg actiTr'rties Model kil sales Sale of displrfi!, assets 20,2.14 Inl'cstment Inrome L)tpo%tl aollA1 Int¢r¢s1 i2.619 9.253 Total incoming rc50ure¥5 282,619 .349,601 EXPF.INDITURF. Other tr¥din% activiliey Purcliases 4,1.37 Ini ¢stment management costs Porttolio manag¢mcni 909 Cbaritable aLtivilies n5111ce Pnstag¢ and stationery I'l. and kneb costs Traielling Subseripiions SIoTdgC and rental cosis Operational cosis AdTniHisrraliun ,XlarkLiing qntor expLn8es SLh()nl prebLnlation Costs Plajil and inacliin¢ry roior vchicles 8.361 6,.17i 2,190 33.924 7,593 8,147 1,974 17,-608 4,081 7,695 10,127 397 1.977 4,)82 31.764 14,219 14.219 1 $9,627 88.232 Support cost* Finantc Bdnk charges 127 GoKerDanee costs AccountanLi and legal fees 720 780 Tolal TC5Durces expLndcd 161,655 94,177 et income 120,964 2$ j,424 Tliis pagL does nul fonn part olthe statuior! fjnancial statemLnt Pagc 17