REGISTERED CH￿lIty NUMBEIL. 1203149
REPORT OF THE TRusfEES AND
FINANCIAL STATEMEiirs
FOR THE YEAR ENDED 31 MARCH 2025
FOR
AIR CADET SURREY EDUCATION TRUST
Harw Fow*r LLP
Ch3rtered PLcwntsnts
4th Floor TU￿On House
27-37 5t Georg*'s Road
Wimbledon
London
SW19 4EU

AIR CADEf SURREY EDUCATION TRusr
CONTENTS OF THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Report of the Tr
Indep¢nd•nt Examln•rfi Report
ststement of AnanCI￿ A¢ll¥ttl•8
B•lan¢• 5h•rt
Cash Flow Stotqment
io
Not•s to the Cajh Flow Ststem•nt
Not•* to th• Flnwdal Statsm•nts
12 to 16
D•tsll•d Statsm•nt of Fln•nclJl Artlvltl
17

AIR CADET SURREY EDUCATION TRLsr
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their re￿)rt wth the flnandal statements ¢1 charfty for the year ended 31 Maich 2025. The
trustees have adopted the provlgons of Accounhng and Reporting by Charf(ies'. Strternent of Recornrnended Pracuce
applicable to charitie5 p￿parIng their account5 in accordan￿ with the Thnancial Rew)rting StaTrJard applicab￿ in the UK
and RepuL4ic Ireland IFRS 1021 leffectNe l January 2Q19).
OBJEcfivES AND A￿[VITIEs
ObJertiv￿ and alms
To advance the edwatlon of young and p￿Ote the of the Armed For￿ of the Crown, In partlcular
but not exclusNety by maklng grant5 to 5UPPOrt the charltat4e aLO'vities of koyal ￿"1 Force Alr Cadets In the Surrey
WlThJ Ibelng the grouping of Air Cadets squadrons In Swreyl.
Slgnlficant actlvltl•s
The Cto was set up to take over the remainlng assets cl Trust S¥oFerty kn Q*nnectlon Wlth Wlrntledon Alr TralnlThJ Corps
Hea￿uarterS (Charity nuffl￿r.. 1072525}.
The £2,000,ofN) donatic￿ frorn the sale of the a55ets of Wlmt4ethsn Tralning Corps HeadqUart￿S has been Indthd In
the flnanclal ststements.
During the year the CIO recelved grant fundlng of £IOO,000 from Wlrnbledon A4r Tralnlng Corps Headquarters and mode
grant of £61,000 to Surrey WSng Cadets. The grant from Wlmbledon ATC Trust was enabled by the sale of freehold
property neCeS￿￿t￿ng the formatlon ol b new Trust IACSEf) to reflert the change In Oblectlves ActlvltÈ5 from
property ownlng Trust to a grnnt ma￿ThJ Trust.
Publ1< benefflt
In planning the artivit￿$ ol the charity the twstees have had dve regard for the Charfty Cornrn154)n's gUIdan￿ on publk
benent.
FINANCIAL REVIEW
Financial position
Total income for the year was £2,135,245 whlch Incl￿eS £2,t(#J,000 dona￿On from Wimbkdw Ajr Traknlng Corp5
He&*uarters.
Total exFendlture wa5 £68,278 whlth i￿ludeS É61,000 gtBnt pald to Suw Wlng Alr Cadets.
The iots19Jrplus for year and the net assets were £2,066,967.
Inv•>tm•nt poll<y and obiortives
Our IrNesbmert oblectlves are to malntaln the catytal value of the assets and to generate Income to support our
charitable acthibe5,

AIR CAD￿ SURREY EDUCATION TRUST
REPORT OF THE TRusfEES
FOR TME YeAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Reserve5 poIIcv
The trustee5 of ACW have resofved that reserves will cornprise net capital received as an eThlowment Igranv legacy
followng the merger wlth Wimbledon ATC {18F Squadron) Headquarters Trugc having allowed dl profeSSK)nal fees
and expenthture Incurred In order to enable1c0rn￿le the merger aThJ fomiats'on ol ACSEt.
Futu￿ reserves will comprise ca￿tal held at bank invethent funds plus interesvdivldends on such funds less grnrts
made to qualfying grantees and expenditure on running costs such as, but not Ilmlted to, profeslonal fees and
inSUrar￿11￿dernnhty p￿Mium5 provmded that such grant5 and costs shall not exceed the caWI reserves of the premous
rinanaal year. Any surplus in excess of the prevlous yearfs caprtal reserve, not used for grants or expendlture Sn running
the Trust, thal be added to the caJtal reseNe and become5 the catAtal reseNe for the current flMKLal year.
The tr￿￿eS alm to malntsln free reseNes In unrestrirt£d funds at a level whlch equates to approximotely three months
of unrestricted chamtsble expendrfture, plus Inveslments capoble of generatSng E80,000 of annual lrtome. The trustees
consider that this level wlll provide sulfldent funds to resp)￿1 to applkatlons for grants and en9Jre that suppcfft and
governance costs are covered. The trustees consider that a level of 3 rncrths is sufflclent glven the low level of ovthead
expendf(ure and flexibillty of grant payments.
The balan￿ held as unrestricted lunds at 31 March 2025 was £2,066,697, of whlth £2,066,697 Is re9arded as free
reseNes wlth m lunds tled up In tsnglble nxed assets ond the Investments belng acce551ble at short Tr)tlce.
Overhead annual cash payrnents totalled £7,278 and an Investrnenl ptsrtfollo of around £2,DW,000 should generate the
requlred income at a 4% return. The cvrrent level of reserves Is therefore h￿her Is nee(kd and can be adjusted
Increaslng the arnount of grants made 2026.
Rljks and Unurtalntle
The tiustees have con51dered anEJ dlscussed potentlal d5ks. Due to the assets of the Trust sO￿ty nnarKlal, name
money Fla￿d on de￿sIt wlth b￿kS or Investment funds a5 pounds Sterling, prlmary risks are Lknryjes In Interest
rates and fluctuations In the finandal equity, lyJThJ and gilt markets. These are outslde the control or the Trust or trustees
but capital deposits are held In low ￿sk lunds vla COIF ICCLAI or a Buslness Reserve account at Natwest Bank. The Trust
has lormed an Investment Commlttee which comprises a minlmvm of th￿e Iwstees PrO￿Se ￿ meet and dlscuss
rlsk management at ￿ast ￿[ce per annum.
The Trust hdds rKJ physlcal assets such as b￿ldIngs. land, rnachlnwy or equlprnent.
The Trust does Trjt employ any pald #aff and the trustees are all voluntsry and unpald.
The onty financial outgolnys, other than grants, are fees lo pr¢lesslonal a¢fvlser5 and In￿ran￿ premlurns for trustee
lIat￿lIty, fraud aTrJ clalms by thlrd partle5. Insurance c¢ver Is also in pla￿ io cover the risk d clairn5 )giinst the lormer
WImbled(￿ ATC118F Squadron Headquarters Trust).
FWURE PLINS
The Trust prcpJses to maintaln Il's p)lides as defined In ￿'S Objethves aThJ ¥Yill contlnue to provide 9rants for the toneflt
of all C3det Squadrons in Surrey via Surrey wi￿.
There are prcp)sa15 to expand geograpNcal coverage, wrthase physcal a55ets or empkny *aff. The Trusi wll
contynue to fund grants from Investrnent Income with a vlew to malnta1nl￿ a *A)stanbal ca￿tal base.
STRUCTURI GOVERNANCE AND MANAGEMENT
Goyernlng document
The charlty is cOntrol￿d by it5 goveming thxvment, a dEed ol trust and con5tKuEes an unlncorporaied charity.
Charity con5titutlon
The Trust Is a CharItsb￿ IncorrK)rated Organlsation Ictol govemed by a wrltten Consty'tution document dated 19th May
2023 and approved, 5ubmiLted to and held by the Tharity CommIs￿On.

AIR CAD￿ SURREY EDUCATION TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AIID MANAGEMENT
Recrultment and appointment of trustees
The Charities Act 2011 defines charity trustees as the peO￿e who have general cortrd anL1 managernent of the
adrniniStra￿0rn of a charty. The Code of c￿duCt for the Volurtary and Comrnunity Sector includes as part of thls
prlnclples that liu￿eS should have a diverse range of skills, experieKe and kTh)wledge needed to run an organlsati
effeth.vell and that Irustees shoukj enwre that they received the nece55ary Indurtlon, training, and ong¥Jlng supwjrt
they to dlscharge thar dubes..
In atJdltlon, Statement of Recommended Practlce 2fM)5 requires dlsclosure of the meth¢ds adopted for the recrultment
and appolntrnent of trustees and the pollJe5 procedures adopted for the Inducuon and tralnlNJ of trustees.
The Tru# recojnlses that an effectlve Board of Trustees Is Imperauve to ensure thot the charity is Succes￿Ul In achlevlng
objectfve& The Board wants to er6ure that it engages effthly the peopk, oryanlsJtlon5, and comrnunltles It
seNes.
The role of the Board of Tru5ttes Is..
To work cdlertivety with fellow Tr￿￿eS to further rhe organlsation ty er￿rIng the Trust has a ckar vlslon, rn1￿0n and
strategt direLtion and Is focused on athlevlng these, whllst onsurlng that all actSvbties are wlthin the cha￿table obj'ects.
To rrK)nltor the dellvery of the annual work plan ensuring delivery of key projects and milestones.
To ensure the ongolng flnaK*I ￿3￿lIty of the Trust and ￿feguard Its assets lor currert and future teneficlar*s of the
Trust.
The Trust's gDvemlng drKument does Th)t specKy the number of trustees to te aported.
Trustees are usually appolnted for a flxed temi of 3 years and fcr a maxlrnurn contlnuDUS term of 9 years.
It Is a crfmlnal offence for an indfvldual to 5etve as a Trustee If dtsquallfled from dolng so. Approprlate check5 Wtll tse
carr*d out to ensure that indfvldua15 who have been selecteil to become a Trustee a￿ eligltrAe. These checks will Indude
Jth ￿erenCeS and scwnlng,
Before any recruitment process Start5 the Board ol TnJth5 ￿￿11 undertake an aLKlIt of exlslrrfJ mernbers to Identty what
addltional skills and experlence are required.
The Trust wlll seek to reach the wide# ptsjl of appllcants FQ551ble by uslng a mlx of different advertlslng approaches,
As part of a fair recrullment those exprexslThJ an Int￿e& wlll be Invlted to let the Tru￿ know W there Is anythl
that we can do to make the process rrK)re stralghtlotward for thern. Thls might be pyovhling the recrultment pack or
aFplicab'on form In a dffterent format, pro￿￿0￿ of BSL irterpreters for any rneetlry a5 Part of the recrultrnenf pr[￿S5
The reuultment pack I￿11 Include detailed background Informatlon about both the 0￿￿15)tIOn end the ro￿, an
Indfvlduals who are Interested in finding out more will be pro%Aded with contart deialls.
The recrultment pack will a150 Set out the 'es5ents'al 5kllls or experience, required ba*d on the results of the skHls audtt.
All applicants with a di5abllty or mental heaf(h chal*nge or long-term heath condStlon who have these essentkl skills or
exper￿nce wlll be guaranteed an Interview.
Ap￿[CantS will be asked to make a wrltten or videoed appllcation, seib'ng oui how they meet the requirements d the
rde, why they would like to be a Trustee, what additlonal skills and exwience they would bring to the Trust, byhot
cortfibubon they would Ilke to rnake arKJ whfjt 5UPP¢Jt they would like and need to te aue to make that contributK)n.
AJI applica¥ons will be rthewed by a commbttee of the &)ard ol Trustees against the rDle requirernents. The committee
wlll yodwe a short list and InvSte those on ￿ to submit their references ond attend an interwew.
Interyiews wlll be condLKted by a panel of Trustee5, who will then make recornmend*ion5 for appK)lntn￿tIs) to the

AIR CADEf SURREY EDUCATION TRusr
REPORT OF THE TRusfEES
FOR THE YEAR E14DED 31 MARCH 2025
STRucfuRE, GOVERNANCE AND MANAGEMENT
Apptslntments will be subject to rderences and checks and tPE su￿eS￿ul applkants w41 be asked to..
Complete and ggn a dec53rab.on of ￿nte￿St form, io be retalned by the Trust;
&"9n a declaratlon that they are eligible to serve 35 a Trustee,. and
Agr￿ and slgn the code of conducL
Trustee5 are ex￿cted to wor* to the role descrlptlon and a code of conduct and attend all Boa￿ mee￿n9% If a Trustee
is absent wlthoul the Femilssion of the Trustees from all rneetlngs held w6thin a 6 month perfod, the Tw5tee may be
removed from office.
There wlll be a I2-m￿th probatlonary petlod to ensure the fit cl the new Trustee to the 8oaTd, ènd the 8oard for the
new Twstee.
Trustees can clalm reasonaNe out of porket expenses that are incurred whllst fulfilling the rde of Trustee. Suth
expenses mltht Indude travel and refreshments, childcare, a Fersonal as￿sts￿t, a BSL Interpreter etc. An expew pjlity
coverfng what can be dalmed Is avabla￿e.
In accordan¢e wlth the T￿￿S govemlng docun*nt, Trustee5 wlll not be pald for Carr￿￿9 out thdr dWes on behalf of
the Tru*.
Xnductlon and tr•inlng of n•w trustee
All Tru5rees wlll ￿ sup JSed with acces5 to the Trust's ￿rnance Portal, whlch Indudes essentlal Infomiatlon abJu¢
Barnwood Trust and Minutes and papers from prevlous Board Jnd sub<ommth meetlng& For new Trustees there wll
be a formal Lnductlon Prtsjramme which wlll cover all awects of the Trust's work and the legal re5ponsibllitie5 that corne
wlth telng a Trustee.
In addSllon Tnj￿eeS are required to undertake additkjnol trnlning and d￿￿0pment as agreed by the Board. The￿ wlll be
an annual appralsal opwjrtunty wlth the Chalr to revlew kndfvldual perforrnance to con&der ony sF¢dfk trairmng
needs.
Rl•k manag•mert
The trusiee5 have a diity to identSfy and revlew the rfsks to whlch t1￿ charty Is exposed and to ensure approprlate
cortrols are In pla￿ to proylde reasonable a￿ran￿ against fraud and error.
REFERENCE AND ADMINI￿RATIVE DEfAZLS
Regist4red Ch•rlty numb•r
1203149
Prlnclpal address
2 The Tlthe 8am
Ripley Rood
East Clandon
Guildford
GU4 7SE
Nigel Slmpson
Rthard Denn15 Ct)wel
James Neil Morri5 VR JP
Phllip Andrew Lucas WGCdr RAF
Karen Parker
Grenville Willian
Steven lknchar(ts
John Silver

AIR CADET SURREY EDUCATION TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADmINI￿RATIVE DEfAILS
Independent Examlner
Hartley Fov41er LLP
Chortered Acctyjntsnts
4fh Fh)or TultKJn House
27-33 st Georye's Road
Wimbledon
London
SWI9 4EU
Sollcltors
Russell Cooke
2 Putney Hlll, Putney, London, SWIS 6A8.
Independ•nt examlne
Hart* Fowler LLP
4th FlcK)r Tuition House
27- 37 st George's Road
Wimbkdon
London SW19 4EU
Bankers
Na￿st Wertmlnster Bank Fk
250 Blshop9Jate
LoTrJon
EC2M 4A4
Inv￿trnent Advlsors
CCLA Investment Managernenl
l An9el Lone
Lo￿$On EC4R 3A8
ATEMENT OF TRUSTEES, RESPONSIBiUTies
The trustees are reSponsI￿le for preparlThJ the RepDrt of the Trustees and flnandal statements In acccfdèrKe wth
pplkable law and Unlted Klngdom AcCo￿￿ng Standards {UnibJ Kjngdorn General￿ AC￿pted kn￿￿tIng Practlcel.
Charty law requlres the trustees to prepore flnancial ststernents lor eKh financkl year. UTrJer that law. the trustees
have elected to prepare the fina￿1)1 Sbltements In accordan￿ vlth Unlted Kjngdom Generally Accepted Accounung
praLfj￿ Iunlted Klngdom Accountlng Standards and apF41catAe law).
Under charlty law trustees must rK)t approve the flnanclal statements ￿n￿sS they are &4tisfted that they gNe a true
and fair view d the state of affairs of the charty and of the I￿ornIng resources and appllutkjn of ie50urce5, Includlng
inc¢yne aThJ expendlture, of the charlty for that per1￿. In preparirrfj Ih05e financlal statements, the trustees are
required to
select witsiAe acwunting pKJlicles and then appty them con5iStendy-
observe the methods and prlncipks In the Charlties sorip;
make judgement5 and estimates that are reasonaNe and prutlEnt'
5tste whether aprAicatAe Kcountlng stsThaards have been followéd, sU￿rt to any materfal departures dlsclosed Bnd
explained in the financlal statements.
prepare the financlal Staterr￿nts on the gdng con￿r￿ unles8 It Ls Inappropriate to presume that the charity VAII
contlnue In buslness.
The trustee5 a￿ resp￿&ble lor keeping proper accourtir4J records whith disclose with reasonable occuracy at awy time
the financial ￿￿tIOn of the charity and to enable them to ensure that the finanaal staterllents compty w￿h the Charities
Act 2011 and The Charity (Accounts and Rep￿) Re9￿at￿)n5 2008. They are also reSpor￿1b￿ for safeguardlng the
a55et5 of ihe charity and hence fL* taking reasonable steps for the prevenfjon and detection of fraud and other
Irregularities.

AXKCADEfsiiRREYEDUCATION TRUST
REPORT OFTIE TRLisfEF5
FOR THE YEAR EHDE• 31 MAACM 2025
PyJxDv& tytytsofthe on 23 2026 wvj *JneJ oft ts bthallty..

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
AIR CADEf SURREY EDUCATION TRUST
Ind•p¢ndeTht •xaminerfs report to the trustees of Air Cadet Surrey Education Trust
J repKsrt to ￿ tharity trustees on my examlnaticffj of the accounts cl Alr Cadet ￿rreY EdUCa￿on Tvust (the Tru*) for the
year endeij 31 Marth 2025.
Responslbllltles and basls of report
As the charity trustees of the T¢u5t you are rewn51ble ft>r the prepardtlon of the accounts In acovdance wth the
r4uSrernents or the charl￿e5 Art 20111'the ACVI.
I report in respect of my exarn]na￿On of the Tr￿l'S accounts carrfed out under Section 145 of the kt and in carylng out
my eXa￿natiOn I have folltswed all applKat4e DlrecUon5 given ty the Charty Commis*Jn under sertic￿ 14515llb) of the
Ind•pendert examlnerfs gtstsm¢nt
Slnce your charitys grttss IKame exceeded £250,000 your examlner must te a mernbtr of a Ilsted I can connrm
that l am quallfled to undertake the examlnalon because l arn a member of the Institute cl Chartered Acctyjntants in
England and Wales, which15 or* of the Ilsred LYxlSes.
I have completed my enminatlon. I confirm that no rnaterlal matters have come to My attentk)n In coMectlDn wlth the
examinauon gIvi￿4 rause to beI￿ve that in any materSal ￿SPect..
accounting ￿rdS were not kept in respett of the Trust Ls requlred by Sectkjn 130 of the Act,. or
the accounts do not accord wlth those records; or
the occount5 do not conwy wlth the appllcable requlrement5 concemlng the forrn arKJ content of accounts Set
out In the Charities {kcounts and Reports) Regulatbns 2008 other than any requirem2nt that the accounts glve
true and fair vlew ¥thith is a matter con5tsJered as part ol an Independent examlnallon.
I have ntt concerns and have come iCT055 no other matters In connectlon h￿th the examlnatlon to Jitentlon should
be drawn In thls report In order io enoiAe a proper understanding of the accounts to be reoched.
Jonat
an
ew FCA
Hartky FoW￿r LLP
Chartered Accountants
4th Hoor Tuiuon House
27-37 St George's Road
WIMb￿d0￿
London
SW19 4EU

AIR CADET SURREY EDUCATION TRiJsr
STATEMENf OF FINANCIAL ACTIVITIES
FOR THE YEAR EI4DED 31 MARCH 2025
Period
1915123
to
3113124
Total
lunds
Year Ended
3113125
Unrestrfcted
fund
INCOME AND ENDOWMENTS FROM
Donats"ons and legacie5
2,008,380
Charftable •¢tl¥ltles
Surrey Wlng
104,322
Invethert Income
22,￿3
Totsl
2,135,245
EXPENDITURE OM
Charit•ble activitlei
Surrey Wlng
68,278
NEf INCIJME
2,066,967
RECONCILIATION OF FUNDS
Totsl funds brought f￿ard
TOTAL FUNDS CARRIED FORWARD
2,C66,967
ThÈ notes f£*m wt of flna￿l statemaits

AIR CAD￿ 5URREY EDUCAIION TRUST
31 14ARal 2025
2025
2024
r*JFrt6J Tatal
Jr
ftsnds
li
2,030,923
CuRRENr￿SErS
12
Cath at ba
166
41.998
41164
CREDrroR5
knounts falllng due wthln year
13
NQT CURREiifASSETS
2,066,967
1066,967
FUIIDS
14
2,066,967
TOTAL FUNDS
lQ66,967
st4trntS ¥¥tr• OPPD¥*J ty Ihe Btwd of Tn* ar¥J wJtt*)rW for Iwe on 23 WI 2026 %ve
*ned on ts bthoif by:
51rnps¢n. Tn*e
fMn partrfthe¥effnaMa ¥atewts
11

AIR CAD￿ SURREY EDUCATION TRU
CASH FLOW STATEMErir
FOR THE YEAR ENDED 31 MARC•1 2025
Period
1915123
Year Ended
3113125
3113124
Note5
C•sh flows fmm operatlng artmtleg
Cash generated from ￿eratIOnS
2,050J78
Net cash provlded by operating actI￿￿e$
2,050,378
Cash flows fvom Investlng activitie*
Purcha* of fixed asset Investrnents
Olvidends recelved
12,030,923)
22,543
Net cash Iu5ed lnl1p￿￿ded by Invesung activityes
(2,IY)8,380)
Change In cuh and calh •qulvalents In
tho repDrtlng perlod
Cash and cash equlvalents •tth•
b•glnlling of the rqptytlnq perSod
41,998
Cash and cash equl¥alents Jtthe end of
the r•portlng perlod
41,998
The note5 frjm? part of these flnanclal staterfftnts
-io-

AIR CADET SURREY EDUCATION TRUST
NOTES TO THE CASH FLOW sfATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
RECONCILIATION OF NEf IllCOME TO NEf CASH FLOW FROM OPERATING ACtivmES
Perlod
1915123
Year Ended
3V3125
3113124
Plet income for the r•pNting perlod {a5 the Statement of
FinY4nclJl Actlvltles)
Adjuslments for..
Dfvidends receNed
InC￿aSe In det*(
InC￿aSe in ¢redf(ors
2,066,967
(22,543)
11661
6,120
Nrt cash provided by 0￿1•toon%
2,050,378
ANALYSIS OF CHANfjES IN NEf FUMDS
At 114124
Cash flow
At 3113125
Nrt cash
Cash at bar
41,998
41,998
41,998
41.998
Totsl
41,998
41,998
The note5 frjm) part of these flnarKlal statrnts
-li-

AIR CADET SURREY EDUCATION TRusr
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTIt4G POLICIES
Ba515 of prep8rrng the financial statements
The financial ststements of the charity, which Is a publSc benefit entity under FRS 102, have been p￿p￿re￿ In
acCOrda￿e with the Charities SORP (FRS 1021 'Accounts'ng and Repotting by cha￿t￿5.. Ststernenr of
Recornmeryjed PractKe apFllcable to Charlties preparing thelr aCCo￿ts In accordance with the Financial Reporting
standard applicatde in the UK and Republic of Ireland IFRS 1021 leffectlve I lanuary 20191,, Flnandal Reporti
Stsndard 102 The Financlal Repo￿ng Standard appllcable in the UK and Republic cl Irelartd, and the Charlts'es
Att 2011. The flnantJal statements have been prepared U￿er the historkal cost convmtlon, with the excewc
of investments whlch are included at rnarket value.
Current period figures are for the 12 TrTh)nths from l Apyll 2024 to 31 March 2025. Girnpafatlve figure5 are for
10 months from 19 May 2023 to 31 March 2024.
In¢om•
All irKome Ts ￿Cogn5$ed in the Siaternent of Flnanclal Athttes ontt the tharlty has entitlement to the fund5, It Is
probable that the Income wlll be received and the amount can be measured ￿lIab￿.
Voluntsry Incorne Is recelved by way of grants and dwatlons and 15 Induded In full In the Statement of Financlal
Act5vltles when r¢(efvab￿.
oonath)￿ are recogn15ed whEn the chadty hos been notyfied In wntsrg of both aMo￿t al￿ settlement éate.
Expendltur•
Llèbilities are recogn15ed a5 expendlture as soon as there Lg a legal or construthve obllgath)n commliilng the
charty to thal expendlture, It Is probable that a transfer of economlc ￿nefitS will be required In setdement aTrJ
the amount of the oblIga￿0Th can be meaxjred rella￿v. Expendllure Is accounted for on an accruals bass and has
been cii%slfied under headlrrfjs that aggregate all co* relatsd to the category. Where costs cannot be élrectly
ttrlbuted to parucular headings they have been anwated to attlvltles on a bal5 Con￿stent wlth the use of
resources.
Gronts offered subject to condiJcfis whth have not been met al the year end d)te are noted a5 a commitrnent
but not accrued 05 expendr(ure.
Taxadon
The d)arfty & exempt from tsx w ils cha￿table actlvitle5.
Fund a￿oUntIng
Unrestrlcted funds can be used In attordance ￿th the tharf(a&k ObJeCt￿eS at the d￿re￿on of the truste
Restrlcted funds can only be used for PBrtlcular restrlcted purposes hvthin the objects of the charlty. Rethcfjms
arlse when spe(lfled by the donor or when fu￿$ are ralsed fcK p1￿Cu￿r restrkted purposes.
Furtlw explanatk>n of the noture and purpose of each fund Is Induded In the notes to the financlal staternents.
Flxed a55•t invo6tm•nts
Inve*ments are IncludLNJ In the Statement of Flnandal Poltlon at thelr falr valuE,
All galns and Ios5e5 are taken to the Ststement of Flnanc+al Actfvities as they arise. Realised galns and losses on
Investments are calculated as the dbfferentr befften sales proceeds and their openiTrJ carylng value cff thelr
purchase value rf acqulred Subsequent to the flrst day of the NnancSal year. Unrealised galns and 1055es are
calculared as the differen￿ bet%veen the fair value at the year end ond their carrying value. Reallsed
unreali5ed inve5trnent gains and losses are corntAned in the Statement of Rnancial Actmties.
Cosh at bank
Qsh at bank Includes cash and short-tem) highly liquld inve#￿nts wlth a 51KJrt matudty of three mnth5 or less
from the date of acqUI￿tion or opening ol the de￿>Sit or similar account.
Debtors
Prepayments are recognised at the Invot8J cost prepald.
-J2-

AIR CADET SURREY EDUCATION TRusr
NOTES TO THE FIf4ANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
AccourfriNG POLICIES- ¢ontinued
Fixed asset innstments
CredltOf5
CreditLYS are reco9nised when the charity has a pre*nt obllgatRin resultr'rg from a past event that wtll probaLIy
re9Jlt in the transfer of funds to a third party and the amunt due to setde the obligation ctn ￿ measured or
estlmated rdlably. C￿dItorS are norrnalty recognised at the settkmert amount.
I)ONATEONS AND LEGACIES
1915123
Year EThJed
3113125
3113124
Donatlons
2,008,38D
Included in donotbns is £2,OOD,000 from the sak ol the ossets of Wbmbledcn Ijr Tralnlng Corps Headquarter&.
INVESTMENT INCOME
Perk¥J
1915123
Year Ended
3113125
3113124
Other flxed as5e¢ Invest- Fri
22,543
INCOME FROM CHARThA8LE ACTivrriES
Perbx
1915123
Year Ended
3113125
3113124
ACtI￿ty
9Jrw Wlng
Grants
104,322
Grants recelved, Included In the ab)ve, are as follow5:
Perlfrj
1915123
lo
3113124
Year Ended
3113125
Wimt4edon Air Corps
104.322
-13-

AIR CADET SURREY EDUCATION TRusr
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR eNDeD 31 MARCH 2025
Grant
funding of
activifies
(see note
SuFyort
co#s (see
note 7)
Dlrect
Costs
61
Tots
5uNey Wino
138
61,U)O
7,140
68,278
GRApifs PAYABLE
Perbjd
1915123
to
3113124
Year Ended
3113125
Surrey Wlng
61,lY)O
SUPPORT COSTS
GovernaKe
costs
Surrey Wlng
7.140
TRusfEES' REMUNERATION AND 8eMEFiTS
There were no trustees, remuneratbn or other beneflts for the year ended 31 march 2025 nor for the pertod
ended 31 March 2024.
Trnrt¢u' •xpenM%
There were no trustees, expenses pald for the year erKled 31 March 2025 w)r for the perlod e
31 March 2024,
COMPARATIVES FOR THE ￿ATEMENT OF FINAP4CIAL ACTMTies
Totsl
funds
NEf INCOME
TOTAL FU14DS CARRIED FORWARD
-14.

AIR CADET SURREY EDUCATION TRusr
NOTES TO THE FINANCIAL ￿ATEmENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
10. INDEPENDENT EXAMINATION
The independent examirobon fee ft)r the year was £5,100 plus VAT (2024 Énu).
ii.
FIXED ASSET INVESfMEP￿S
sted
Invethents
MARKEf VALUE
itions
2,030,923
NEf BOOK VALUE
At 31 March 2025
2,030,923
At 31 March 2024
There wore no Investment assets outsble the UK.
12. DEBTORS: AMOUNTS FALLING DUE WrnIIM ONE YEAR
2025
2024
payrnents
166
13. CIiEDrroRS: AMOUNTS FALLIIIfj DUE WITHIN ONE YEAR
2025
2024
Other uedttors
6,120
14.
MOVEMENT IN FUNDS
Net
movement
In funds
At 114124
3113125
UnMrtrlct•d fundj
General fund
2,066,967
2,066,967
TOTAL FUNDS
2,066,967
2,066,967
Net moven*nt In funds, Included In the abLwe are as fc41ow5.'
Incornl
re50ur¢es
Rwurces
expended
MINemL￿t
In fuTxIs
Unrestrfirted fund•
General fund
2,135,245
168,278)
2,(156,967
TOTAL FUNDS
2,135,245
(68,276)
2,066,967
-15-

AIR CADEf SURREY EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMEfiTs- contlnued
FOR THE YEAR E14DED 31 MARCH 2025
RELATED PARTY DISCLOSURES
Tr*re were no rel*ed party transartths the year ended 31 March 2025.
-16-

AIR CADET SURREY EDUCATION TRUST
DEfAILED sfATEMENf OF FINANCIAL AcrIvrriES
FORTHE YEAR ENDED 31 MARCH 2025
Period
1915123
Year Erk*d
3113125
3113124
114COME AND EMDOWMEIITS
Donatlt)n8 and legaci
Donatk)ns
2,008,380
Invostmerrt In¢ome
Other flxed asset invest- FIE
22,543
Charltsjjle irtlvltl•*
Grants
104,322
Trtal Incoming reN￿re•S
2,135,245
EXPENDMIRE
Charltsbl• acu￿11•8
Insurance
Grants to
138
61.000
61,138
Support cortj
Governance cojts
Accountaw and legal fees
Independent examlntrs fees
1,020
6,120
7,140
Total resource5 eApeTh*d
68,278
Net IKom•
2,066,967
This ptye doe5 not form pjrt of the statukny finanool statemwts
-17-