REGISTERED CIIARrrY NUMBEIL. 1202529
ANCIAL STA
FOR
LEATHE
b"¢Mingham
NGI 4JA

NTENTS OF THE FINANCIAL STATEMENrs
R THE YEAR
Report of the Trust¢
I to 3
Indepe*deDt E￿￿1￿&5 Report
St*tsm¢ttt of FlttanelalArttvilles
B414n¢eSh#t
Notss to the Finanei*l StatemeRts
7 to 12
Detsikd Ststement Aetivit
13 ty 14

THE LEA
Trusr
REPOKT OF THE TRU
TEES
FO
THE YEAK
NDED30 JUNE
The tN5tee5 presenttheRr rerth with the fllwicial statements of th¢ ¢hwity forthe year ended 30 June 2025. Th¢ trustees have
adopted ih¢ provisions of Accounlingand Reporting bj. Clwities: Statement of Reco￿￿e1)ded Prtictice applicabk io thities
preparing their ￿¢0￿￿15 in accordance with the FiDaDcial ReEKxtin8 Standard 4ppli¢8ble iti the UK and Republic of Ireland
(FRS 102) (effectiY¢ l January 2019).
The fuknin¢ial statements haye been in acc(thce with the accowiting polithes Set out in the notes to the aceotsnts
and comply with the Chariry's governing docutnenL the Clwitses Act 2011 aDd Accounting and Rwrting b) Charities..
Smement of Recomm¢nded Practic¢ applicabl¢ io cFJariiies prep2Ting their accounts ID accordance with th¢ Financia
Reportitkg StaDdard applicable in the UK and Republic of Ireland published in (knOl￿r2019.
OR1E￿IVEs AND ACTIvr
Objectives •nd
Th¢ original objects of the ChaTity were to futld fiigbi training for young people und¢r 30 years old wtthin the East Midlands
up to a maximum of15 hours w candidate.
Due to the narrow %ope of these objects and limited opportullittes to provid¢ fi]nding. the uustees applied to the Charity
Commtssioners to wida] the objects to the geogrnphical arrd of England and Waks and increase the maxitnum fl)'ing hours
to 30 per Candidate. The amend¢d objects were approved on 6 March 2025. The fundingwill be made by way of a bursary.
Slgnlficant actiYiti¢5
The awarding of bthwies and the generation of inV￿t[De￿I income will be the Charities main activity. No bwsari¢$ h4ve
been awarded in this iuitial perlo
Public benefrt
Th¢ Trnstees ar¢ aware that they must carry on the charity's activities fLY the publi¢ benefit and that they mu# pay due regard
to the gUid￿ce on the public ￿rtefit IS￿ by the Cbariry Commi5siI)n.
Grantmaking
The Charity aims io make ￿r80T1¢S Anitiajty of £30,0(rf) per ajmum lo b¢ from incixne generated.The Cbarity WRII wo
with flying Clu￿ to &fvertise th¢ grdu15 available, applications in writing to the trustees will be necessary. Applications will
be considered bas￿ on the objects of the tharity and the applicat)ts financial positions.The mistees will set a budget for grants
and monitor the funds available.
Furtdrai5ing
The charity d(￿ Dot C￿ out fijndrdistng actÈvities
ACHIEVEMENtS AND PERFORMANCE
Charitable #etfvities
Thi5 IS the itiitial reporting perirf the activilies bave been focus¢don &stsblishing accounting records. opeDÉng bank accounts
and making investmenis tog¢th¢r with planning for the ￿tabliS1￿Dent of links with tlying clubs wlth a view to receiving
applications for future bursaries.
Fundrnisirtg Aetiviti
Thffe are no fimdraisuigactivities
Investment performance
The trn￿Ces 5¢¢k to achleve aretum of 4Ytr 5Yo whilstrnaDll&ining capital.
FINANCIAL REVIEW
Finan¢ig1 p)sitlo
The net asset5 of the Charity arc £2,080.1?O a( the period which r¢pr¢$￿ts nel inc4)me that has ixen received wDsiSt￿
mainly of the initial legacy setting up the Charity.
Pag¢ I

REPORT OF THE TRUSTEES
R TH£ YEAR ENDED 30JUNE 2025
FThA￿c￿L REv￿w
Prkn¢iw41 funding sources
The principal fundingsource 15 invNlmc•¢ in￿￿¢.
Investmen¢ pjlicy and objettives
The f￿ancial objectives of the charity is to at least rnaintaiti the real value of assets whilsi ga)erating a stable and sustaiThabl¢
relurn tt) fiuhd grdllt making. The Tnisteu seek to athieve a retlun 014Vtr 5% whilst maintaining capitsl. At an aggregate
level the overall portfolio risk Should￿ rauti0￿ &￿La1. environmental and dhical consideration5 are not taken itito xeounL
Rtterves tM)liey
The Irusle¢s have resolved to maintain the level of reserves at the value of the illitial kgary of £1,952.510 allowing for
fluctuaiions in the inv¢stment TnaTket.The resttw&8 are ut)restMed funds.The reserve5 uninvested and readily av?i]abl¢ lo
¢ov¢r grants and nmoi￿ costs are £233.219.
Th¢ filtsthc1￿ objectives of the chaTity is kn at least maintain the real valu¢ of &ss¢ts wbi]st g¢n¢rdtili8 a 51ablE and sustalnable
rethn) to grant makitig. The Chariry aims to make trKwsaTies initially of £30.(XIO F¢r to b¢ ]na(k frotn iticome
genera￿d. The Charty is planning ((￿ the cstablisbment of lioks with flying clubs with a view to rec¢iving applicalion$ for
future bursaries.
Covernlng docurnent
Th¢ tharity is controlledby its govemingthumeDL a(knJoftrUstarKlCffl￿l￿ts0n uninc{K￿ dwity.
Charlty eonstltutlon
The ChaTity w&$ ¢reatsJ under a ttust&ed dabj 28 Match 2023.
Reeruitintnt*nd *p￿1￿(ment of neiw trustee5
New trustees are 4)p)inted by with ag￿eMellt ofthe c(M)tinuingtruslee5 intheir ak&)lu* dis¢retiw.
Ikclsion makiDg
Thettwtees d￿1$￿ jointly.
IDduttion a•d tr&iniDg o¢B¢w t￿$t
Risk manageJmeDI
The trusiees have a thity to identify and review the risks to whith the clwity is ex￿ alld th ensure apprryriate controls
are in place to tmyide re&wnable a8surat)ce againA fraud and em)r.
REFERENCE AND ADTrIINisfRATIVE DETAIIS
Rwstered Charity Dwtnbpr
1202529
Prlncipal addres
Nottlljgljam
NOtt￿gha￿￿lre
NGI 4JA

REPORT OF THE TRUSTEES
FOR THE YEARENDED 30 JUNE 2025
T￿sIteS
A R Harby Charter¢d C¢Eti6edAccowitallt
Mrs H E Ma¢millan Chartered Accountant
Independent E￿o￿tr
Wright Vigar Limityl
Morti)n House
l? Appl¢ton Gate
Newark
NG24 IJY
Solicitor5
Ashton Bond Gisg
13 Castlebridge Office Village
Kirtley Driv¢
Nottingham
NG7 IUT
Investmfflt AdTrryyers
MHA Wtalth
Lockgales House
Rushmills
BedfordRo
Northampton
NN4 7YB
B8Nk¢rs
HSBC
85 Lewisham High Street
London
SE13 6BE
Accounl•Dts
Lemans
29 Arboremm Street
Nottingha
NGI 4JA
REPORTING PERtOD
The period ¢oY¢red by the f￿ancial statemenis is more than l? months a5 this is th¢ first rq￿Ill8 the legal autbority
to change the accounling perM)d is included in the Cbariiies Ad ?011.
Approyed by orderof the board oftrwqrcs on 14 Awi12026and signuj on its bthalflry..
Pdge 3

THE LEATHERtAI¥D FLYING TRAif*ryNC. TRU
l￿depend¢llt reportto th¢tr￿ of Theiatherl*Ad FtyRngTrai*ing Tr￿st
I report to the charity trustees on my examinati¢xL of the accounts of The L￿th￿land FtyiD8 TrJillin8 TnLSt (the Trust) for
the ytsr ended 30 June 2025.
Rwnsibi]ities and b*sis of rew)rt
As the Charity tru51e¢s of the Trusi you are responsksle for the weparatirn of the accounts in accorthce with the
requirements of th¢ ChaTiti¢s Ad 2011 Cthe ACV).
I report in respect ofmy examinati￿ ofthe Trusts accounts caTTied (Rrt wider Section 145 ofthe Ath and ID ￿]￿8 Out my
exajnination I have followed al] applicabk Directi￿Sgivell by the Ch￿lty Cotnmission un(kr Section 145(5Kb) of the Act.
Independent eJamiDerfs statemeDt
I have completed my examination. l ¢onfiT]u that no mallers bave come to my atlentioD in connection with the
eX￿]natIOn giving me cause to beli¢v¢ thai in any
counting recordqwety n(A kqA in resw of the Tn&asTwuiredby ￿lOn 130 ofthe knL"
the accounts do not compty with the applicable rryuir￿￿ts cottcernitig the fi)rm and c4)nteDt of aCcO￿lts set out in
the Ch8ritie% {Accoullts and Re￿)rts1 Regulaiions 2008 other than any requirement that the a¢￿V￿ts give a true and
fairview which 15 not a matter¢onsi(ler¢d &5 part of all indyndent exatDirÈation.
I have no ¢oncem5 and have come acros5 no other malters in Conn¢d]￿ with the eXa￿luatiOtt to which attenlion should be
drnwn in this report in order to enable a proper understanding ofthe acwunts ￿ be T￿h￿L
P G L Colcomb FCCA
Wrighi Vigdr Limited
ChaneredA¢cixmtsnts
12 Applthi G*¢
New'ark
NG24 IJY
15 April 2026
Page4

THE
D FLy￿¥G
BALANCE SHEET
UNE 2025
30.625
30.6.24
TotaE
fimd
N¢Xes
FIXED ASSETS
Investjnents
1.846,128
1.719.520
Debtors
Cash al bgmk
8255
233219
62,120
204.335
241.474
266.455
CREDITORS
Amounts fallingth￿ within LN)ey¢ar
17.482)
(7,980)
IYET CiWiENT ASSETS
233,992
258,475
TOTAL ASSETS LESS CURRENT
LIABILITIES
1080,120
1,977.995
NET A&SETS
2.080,120
,977.995
FLll¥DS
Unreylic￿ fU￿JS
io
2,080.120
1.977,995
TOTAL FUNDS
2,080,120
1,977,W5
The fjnancial statements were approv￿ by the Board ofTTUSt¢es and a￿th￿]sed for issue on 14 April 2026 and were signed
on its I￿h￿rbY.
A R Harby- Trust¢¢
HE Macmillan- T[￿lee
Trnotes forni part ofthese financial statemeDts
Page 6

THE LEATHE
STATEMENT OF FINANCIAL A
THE YEAR ENDED 30 JUPIF. 2025
Period
28.3.23
Year FJJded
30.6.25
30.624
fijnd
fim(
1,960,766
Invthent income
76.205
30,134
Total
76205
1,9W.9(MI
EXPEP4DTTURE ON
Raisingfunds
21261
30232
7.980
Totsl
30,583
38212
Net gains on itsvesljnents
56,503
25.307
NET INCOME
102,125
1,977.995
RECONCILIATION OF FUNDS
Tirtai funds broughtforward
1,977.995
1080.120
1,977,995
Pag¢ 5

THE LEATHERLIND FLYING TRAINING TRU
NOTES TO THF. FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 21llS
ACCOt)NTING POLICIES
Basisofpreparlng tht finAnei*l slAteme•ts
The fmancial slat¢Jllenis of the chariry. which is a public beDefit entity under FRS 102, have been prepared in
aecordance with the Clwiiies SORP (FRS 10?)'Accounttng 3Dd Rewring by Charities." Statement of Recommended
Practice applicabk to ohati(ies preparing their accounts in accordance with the Fitiallcial Reporting Stsndard
applicable in ihe UK and R￿UbliC of Ireland (FRS 102) (effective l January 2019),. Finanria] Reporting Statsdard
102 The Financial Retxmting Standard applicable in th¢ UK and RepublTrc of Ireland, and the Chari¢i¢5 Aci 2011. The
fmancial statements have been prepared wxkr the historical ¢ost convention, with the exce￿10￿ of invest￿ellts which
are included at mad(etvalue, Lgmodified by th¢ revaluation of cett4in assets.
The fmancial statements have been prepanxl to give a Irue and fail view and have departed frthn the Charit1¢5
(Accounts and K¢poTts) Regulaiions 2￿>8 onty to the extent Yeqllired to provid¢ alrue and fair view,. This depat1ure
has involved following th¢ Accounting a￿1 Rerfftting by CharilTres.' Ststement of Rec0￿mended Practice applieable
to charities ]waritig their a￿unts in accordance witb the Financial Reporting Stsndard applscable in the UK aThl
R¢public of Ireland issu¢d in October 2019 rather than the Accountitjg and Rcporting b}, Charities.. Slatement of
RKollfftiended Pra¢lice effective frlxn l April 2W5 which since been withdrawn.
The fmancial statements have been we￿[ed on a going C(M￿¢M bosis, the tswstees consideT there are no material
uncertainties aboui the Charl￿5 ability to continue as agoing concern.
The financial staternents are preseDieAI in 5t¢Tling which is the fi]nctional cullency of the Charity and Tounded to the
Th¢ si￿]ficant accountiAgp)lithes applKd ID the NeiwatiLm 0fth￿ fillancial statements are set oth ￿lOw.
Jncome
All income is recognIs￿ Rn th¢ Statement of Financial Activities once the cbarity" has entt¢lan¢n¢ th the fuDds, it is
probable that the income will be rrf¢ived and theamowbi can be me&sureil reliabty.
Expenditure
Liabilities ar¢ rKogDised as expenditure as as theTe is a legd or wnstructive obligation cornmitting the charity
to that expenditure, it Is probable that a transfer of ecoDOtllK benefits will be r¢quiTed in settlement and the amoLmt
of the obligation can be rneasured reliably. F.xpendinJre is accounted for on an a￿15 basis ￿ld has been classified
under headings that aggregate all CO￿ related to the category. Where costs taimot be directly atiributed tt) wticular
headings they have been allocated toadivities OD a b8si5 eonsistent with the use of ￿SOurCes.
Tas*¢io
The charity is from tsx on ltsd)arltable￿YVlt￿S.
Restricted funds ¢all only be wed for pffiicular Testri¢ted purpLW within the objects of the ¢hartry. RestriclM)ns
arise when specified by the donor orwhen fijnds are raised forparticularTestr1￿purp)ses.
Furtber fAplanation ofthe na¢ur¢ a￿1[￿1￿ oftach fimd is inclu(kd in the nrrtes to th¢ fJnan¢ial statements.
DebtOTS and CUrre￿tL10bilI(ieS
Cash #t B￿k
The Charity holds sufficient fimds in meet its cash C(XnmititLet￿ as they fail Lkn.
Page 7
continued...

NOTES TO THE FINANCIAL sfATEMENTS-¢o•¢iny¢d
FOR THE YEAR ENDED 30 JUNE 2025
AccouiYfiNG POLICIES-
IDvesthieDts
Investtnents are inc]uthl at cost initmlly which i8 SUbs￿Y ￿valu￿1 io th¢ maTk¢t valuc at the year end as
deterniined by the trnst's invesbnent maJM8ers MHA WEALTH and changes are recognised in nel gain￿]053¢$ in the
Ststement DfFinaneial Activiti&%. All investsnents arebeld tffllnarily foran invesln)entreturn.
Peri
28.3.23
30.6.25
30.6.24
Franknj inveslment income
61,703
10289
4,213
17,719
9.910
2,505
DeFQSit xcount iDl¢r¢st
76205
30,134
RAISING FUNDS
Rthingdonallons **d lep¢ks
P¢Ti
28.3.23
to
30.6.24
Year Ended
30.625
128
50
Investment Th¥4n￿¢￿ent
28.3.23
Ended
30.625
30.6.24
Portfolio ￿e￿)ent
Investment alvice
15.077
7,056
7.654
22,528
22,133
30.182
22,261
30,232

TES TO THE FIN
CIAL StATEMENTS- t￿¢1￿￿1
R THE YEAR ENDED 30 JUNE
25
INDEPENDENT EXAMINERIAUDITORS. REML'NERATION
Period
28.3.23
to
30.6.24
y¢￿Ended
30.6.25
Fees payabk to the auditors forthewjdil of th¢ charitys
2,340
1.5(M)
TRUSTEES REMUNERATION AND BENEFrrs
There were no tmstees. mnunerntiQD or other benefits for the yw ended 30 June 2025 nor for the period ended
30 June 2024.
Trnstees, expenxe5
Ther¢w¢￿D0 trustees. expensespaid fortheyvdr ended 30 June 2025 nor fixthe ￿m￿j end￿j30jullC 2024.
Donation$andkgacies
1,960,766
Inyesttll￿t incotne
30.134
Total
1,990,
Raising find5
30232
7.980
Totsl
38212
Netgains iDV¢Stments
25J07
NET IfqcoME
1.977,995
TOTAL FUNDS CARRIED FORWARD
1,977.995
Page 9
continued...

NOTES TO THE FINANCIAL STATEM£NTS- contiR4e41
FOR THE YEAR ENDED 30 JUNE 2025
Listed
1nvesttn￿ts
MARKET VALUE
At l Juty 2024
Additions
D￿1￿SaIS
ReVah￿tiOnS
,719,520
176,427
62,221
(112,IHO)
At 30 June 2025
1.846,128
NETBOOKVALUE
At30 JuTre21ll5
1,846,128
At30 Jwi¢2024
1,719,520
Thtte were investrneDt ￿W[th a marketV8lue of £466,917 thL8ide theUK &% at 30.(h$2025.
Investments representing mor¢ than 5Y• ofth¢wtsl InV¢stsn￿ts at the year ULd
VANGUARD INVS SRSVANGUARD US GovfBOND IDX GBP £103.235.
DEBTORS: AMouKfs FALLING DUE IvrrHIN ONE YEAR
30.625
30.6.24
8255
62,120
CREDfioiLS: AMouNfs FALLING DUE WmIlN ONE YEAR
30.625
30.6.24
7.482
7,980
Ne¢
moyement
At
30.625
At 1.7.24
unrestr1d￿ fuDds
G¢nwal fvThJ
1,977.W5
102,125
1080,120
TOTAL FUNDS
1.977.995
102,125
1080,120
Page 10
conttnued..

TRAINING 1RUST
NOTES TO THE FINANCIAL
TATEll￿NTS-
YEAR ENDED 30 JUNE 20
tinmd
io.
MOVEMENT IN FUr￿Ds. continwl
Net movement in fun(& inclutsl inth¢ a￿ve are Is Collows.
Movement
in fvnds
Unrestricted fun
General fjjrnd
(30583)
56,503
102,125
TOTAL FUNDS
76205
(30.583)
56.503
102,125
CoJnparattYe5 for movement iti fund
Net
movemeni
At
30.624
Unrestricted f4nds
G¢n¢rdl fi]nd
1,977.995
1.977.995
TOTAL FUNDS
1,977.995
1,977,995
cornpardtive￿t movement in fimds inthe bbove are &5 follows:
Movement
nds
ex￿nded
losses
Unr¢strietsd fuDd5
G¢neral fi￿d
1.99).
(38212)
25.307
1.977,995
(38212)
25,307
1,977,995
Pagell

THE LEATHERLAND FLYING TRAIL￿ TRusr
NOTES TO THE FINANCIAL STATEMENTS-eoH¢inued
FOR THE YEAR ENDED 30 JUNE 2015
ii.
RELATED PARTY DISCiLISURLS
Included in arxn]als 15 an omouni due to Lemans Chartered Certified Accountallts for accountancy and tsxa¢ion
services of £5,982 (£5,640- 2024). The Tntskes MrA R Harty aud Mrs H E Pdacmillan are Partners in this f]rni.
P8g¢ 12

LEATH
TA
Peri(xl
28.323
YearF￿ded
30.6.25
30.6.24
Don8tioll5 And iryacie5
.952,510
8256
T￿r¢ClaImed
1.961),766
Lives¢Jnemt income
Frthed investsnqrt income
Unfranked inveslmoi income
Dwit account inter¢5t
61,703
10.289
4213
17.719
9,910
2.505
76.205
30,134
Totsl Incoming rtsourees
76.205
1,990,91K
EXPENDifuRE
Inv¢strnent managemettt ethts
Porttolio management
Inv¢slm¢nt advice
15,OT7
7,056
7,654
22.528
21133
30,182
Supp)rt eost8
Management
Trdv¢I Cost5
68
Finance
Bank charges
Gov¢rnanLY costs
Auditors, r¢mwieration
Inde￿1 Examnmtion Ffz
A¢¢ountancy and legal fees
2J40
i.soo
6,822
5,640
8J22
7,980
Total Tesources expen(kd
30J83
38,212
Net ID¢ome before gains*nd lojgej
45,622
1,952.688
Page 13

DETAILED sfATEMENT OF FINANCIA
Period
28.3.23
YearEnded
30.6.25
30.624
Reali5ed rccognised ￿1￿5 #nd k*se4
R¢alis¢d gainsl(lows)rn investments
(5,718)
4,015
Net ineomt
39.g
1.956.703
This tAge thes fomi Fwt ofthe fowKial s¢atan¢nts
Pag¢ 14