## ## ## ## |Objecti|v|es and|Ac|tivitie|s|||| |---|---|---|---|---|---|---|---|---| ||||||SORP reference|||| |Summary||ofthe purposes of|||Para 1.17|a) The relief of poverty of persons who are||or| |the charity as set out|||in|its||have been engaged
professionally
as Air|Pilots|| |governing||document||||or Air Navigators
in Commercial
Aviation|and|| |||||||who are British Subjects by birth or by||| |||||||naturalisation
or who are Liverymen,
Upper||| |||||||Freemen or Freemen ofThe Honourable||| |||||||Company
ofAir Pilots.||| |||||||b) The relief of poverty and/or advancement||of| |||||||education
ofthe dependents
widows
and||| |||||||orphans
of all such persons as mentioned||in| |||||||(a).||| |||||||c) Insofar as the income and capital ofthe||| |||||||charity cannot be applied towards objects|(a)|| |||||||and (b) above
it may be applied
in supporting||| |||||||charities established
wholly for purposes|in the|| |||||||field ofaviation orfor such charitable
purposes||| |||||||connected
with aviation as the trustees
shall||| |||||||determine.||| |Summary
activities||ofthe main
in relation to those|||Para 1.17and
1.19|Regular and occasional grants for the relief of
poverty.||| |purposes||for the public||||Bursary for Flying Instructor development.||| |benefit,|in particular,||the|||Grants for PPL Scholarships
via Air Pilots||| |activities,||projects or|services|||Trust.||| |identified||in the accounts.||||Provision ofgliding scholarships
for young||| |||||||people via the Air Pilots Gliding Scheme.||| |||||||Grant to the London Air Ambulance
Service||| |||||||and SSAFA.||| |Statement||confirming|||Para 1.18|In making
grants the trustees
comply with||| |whether|the trustees||have|||Chapter
1 Part 1 ofthe Charities Act 2011||to| |had regard to the guidance||||||have due regard for the public benefit guidance||| |issued by||the Charity||||issued by the Charity Commissioners.||| |Commission
on public||||||||| |benefit||||||||| |Additional||information||(optional)||||| |You ma|choose to include further statements|||||where relevant about:||| ||||||SORP reference|||| ||||||Requests for assistance are|Requests for assistance are|Requests for assistance are|Requests for assistance are|directed|directed| |---|---|---|---|---|---|---|---|---|---|---| |||||Para 1.38|through
the||Almoner|forthe|Board to|| |Policy on|grant making||||consider. Grants are|||only given||after a full| ||||||assessment||ofthe applicant's||needs, such|| ||||||grants|and searches||sometimes||being| ||||||made|in co-operation||with other||| ||||||organisations
with similar objects as the|||||| ||||||Fund.|||||| |||||Para 1.38||||||| |Policy on|social investment|||||||||| |including|program||related|||||||| |investment||||||||||| ||||||AII trustees||are volunteers.|||| |||||Para 1.38||||||| |Contribution||made|by|||||||| |volunteers||||||||||| |Other||||||||||| ## |Achieve|men|ts|and Per|formance||| |---|---|---|---|---|---|---| |||||SORP reference||| ||||||The fund's
main objective is the relief of|| ||||||poverty.
We have continued
to fund|| ||||||existing beneficiaries
and assisted new|| |Summary
ofthe main
achievements
ofthe charity,||||Para 1.20|cases. As examples,
beneficiaries
have
been helped
with ongoing energy
bills to|| |identifying|the|difference the|||avoid fuel poverty,
support
with living costs|| |charity's|work|has made to|||such as rent and funding the revalidation|of| |the circumstances|||of its||licences in order to re-enter employment.|| |beneficiaries
and|||any wider||The Trust deed also allows us to assist|| |benefits to society as a|||||other charities and charitable
purposes|| |whole.|||||connected
with aviation.
Trustees consider|| ||||||that offering assistance
which allows young|| ||||||people from deprived areas of Inner|| ||||||London the opportunity
to fly in a glider|| ||||||promotes their confidence
and takes them|| ||||||out oftheir home environment
to good|| ||||||effect. The educational
benefits ofoffering|| ||||||bursaries
and PPL scholarships
are self-|| ||||||evident but they also provide opportunities|| ||||||to develop self-confidence
and social and|| ||||||citizenship
skills which benefit the wider|| ||||||community
in which they live. The Fund|| ||||||also makes grants to the London Air|| ||||||Ambulance,
which again is greatly to the|| ||||||ublic benefit.|| |Additional
information|(optional)|(optional)|| |---|---|---|---| |You ma
choose to include||further statements|where relevant about:| |Achievements
against||Para 1.41|| |objectives set|||| |Performance
offundraising
activities against objectives||Para 1.41|| |set|||| ||||Has been broadly satisfactory.| |Investment
performance||Para 1.41|| |against objectives|||| |Other|||| ## |inancial Review|inancial Review|||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Review ofthe charity's|||Para 1.21|The|Fund's investments|||remain sound.||| |financial
position at|the end|||The|total|value|ofassets|was||| |of the
eriod||||a|roximatel||2700,000|||| |Statement
explaining|the||Para 1.22|Trustees||consider a prudent|||level of|| |policy for holding reserves||||reserves||to be|that which|will|enable|| |stating why they are|held|||planned||expenditure
and||a reasonable||call| |||||for unforeseen|||charitable|assistance to||be| |||||met|in the event ofa downturn
in equity|||||| |||||markets.||||||| |Amount ofreserves|held||Para 1.22|f600,000||||||| |Reasons for holding|zero||Para 1.22|NIA||||||| |reserves||||||||||| |Details offund materially||in|Para 1.24|NIA||||||| |deficit||||||||||| |Explanation
ofany|||Para 1.23|NIA||||||| |uncertainties
about|the|||||||||| |charity continuing
as a going||||||||||| |concern||||||||||| ## |ou ma
ch|o|ose t|o i|nclude fur|ther statement|s
where relevant about||| |---|---|---|---|---|---|---|---|---| |||||||Investment
income and donations|from|| |||||||members
and other benefactors.||| |The charity*s principal
sources offunds (including|||||Para 1.47|||| |any fundraising)||||||||| |||||||To achieve a balance between
income and||| |||||||capital growth,
with a moderate
level of||| |Investment
objectives|policy and
including
any||||Para 1.46|risk. The return from the investment
porffolio should be at least in line with that||| |social investment|||policy|||ofthe MSCI WMA Private Investor||| |adopted||||||Balanced (TR) index.||| |||||||The current risk analysis does not|indicate|| |||||||any serious risks to the Charity.
In|the|| |A description||ofthe||principal|Para1.46|event ofa significant
fall in equity markets||it| |risks facing||the charity||||should be possible to deliver the primary||| |||||||objectives ofthe charity.||| |Other||||||||| ## |Description|ofcharity's|||||||||| |---|---|---|---|---|---|---|---|---|---|---| |trusts:||||||||||| |Type ofgoverning
document|||Para 1.25|Trust Deed||||||| |How is the|charity||Para 1.25|Unincorporated||||||| |constituted?||||||||||| |Trustee selection methods|||Para 1.25|Appointment|ofnew|trustees||is made by||| |including
details of any||||existing trustees
with the approval|||||ofthe|| |constitutional
provisions||e.g.||Court of the|Company.||Appointments|||are| |election to|post or name|of||made from|applications||received||following|| |any person|or body entitled|||advertising|within the Company.||||Trustees|| |to appoint|one or more|||review such|applications||with|regard||to the| |trustees||||guidance
contained||in Charity||Commission||| |||||document CC30. New|||trustees are issued|||| |||||with the documents||specified||in the||| |||||Scheme.||||||| |Additional|information|(optional)||||||||| |You ma
choose to include further statements||||where relevant about:||||||| |Policies and procedures
adopted for the induction|Policies and procedures
adopted for the induction|Para 1.51| |---|---|---| |and training oftrustees||| |The charity's
structure
and|organisational
any wider|Para 1.51| |network
with|which the|| |charity works||| |Relationship|with any related|Para 1.51| |parties||| |Other||| ## |Charit|name|||Air Pilots Benevolent|Fund|| |---|---|---|---|---|---|---| |Other name the chari|||uses|||| |Re istered chari||number||212952||| |Charity's|principal|address||The Honourable
Company||ofAir Pilots| |||||Air Pilots House||| |||||52A Borough
High Street||| |||||London SE1 1XN||| |me|s|ofthe charity|trustees who manage the|charity||| |---|---|---|---|---|---|---| |||Trustee name|Office (ifany)|Dates acted ifnot for
whole year|Name ofperson (or body)
entitled to appoint trustee (if
an|| ||1|R.B.Keegan|Chairman||Air Pilots Benevolent|Fund| |2||I.Melia|Treasurer|From 13~ July 2021|Air Pilots Benevolent|Fund| |3||I.Murning|Secretary|From 13~ July 2021|Air Pilots Benevolent|Fund| |4||A.J, Keenan|||Air Pilots Benevolent|Fund| |||C.McGee||Secretary to 13'" July|Air Pilots Benevolent|Fund| |||||2021||| |||F.P.Smiddy|||Air Pilots Benevolent|Fund| |||R. Piper|||Air Pilots Benevolent|Fund| |||N.Goodwyn|Master Elect||Honourable
Company|ofAir| ||||||Pilots|| ||||||ExOfficio|| |9||P.J.Tacon|Clerk to the Company||ExOfficio|| |10||J.P. Towell|Master|To 26~ January 2021|ExOfficio|| |11||J.R. Bowden|Treasurer|To 12~ April 2021||| ## |Funds held as custodian|Funds held as custodian|trustees on behalf ofothers| |---|---|---| |Description
ofthe assets||None| |held in this capacity||| |Name and objects ofthe||None| |charity on whose behalf|the|| |assets are held and how|this|| |falls within the custodian||| |charity's objects||| |Details ofarrangements|for|None| |safe custody and||| |segregation
ofsuch assets||| |from the charity's
own||| |assets||| ## |Names an|d addresses ofadv|isers (Optional
information)||| |---|---|---|---|---| |Type of|Name|Address||| |adviser||||| |Name of|chief executive or names ofsenior staff members||(Optional|information)| ## ## ## ## ## ## ## ## ## |||||||BAIJWCE|SHEETS||| |---|---|---|---|---|---|---|---|---|---| ||||||30|September 2021|30|September|2020| |||||||6||6|| |CURRENTASSETS|||||||||| |Quilter Cheviot Porlfolio:|||||||||| |Invshnents||||||729,802|||612,111| |Cash hekl for investment|||||||||60„973| |Total QC Porlfoso||||||774,257|||673,084| |Loans||||||0|||0| |Cash at bank (CAF Bank)||||||4,867|||9,197| |||||||779,124|||682,281| |CURRENT LIABILITIES|||||||||| |Accruals - 2020 Audit||||||250|||| |AccruaLs —ICO Fee||||||40|||| |PPL Scholarship
via Air P8ots Trust||||||0|||0| |Flying Instructor
Devsaopment||Bursary||||0|||0| |Fleet Air Arm OA Gliding Grant||||||0|||0| |Heron Hall School Gliding||||||0|||0| |Trustee Expenses||||||0|||0| ||||||||||682,031| |RETAINED FUNDS|||||||||| |Balance Brought Forward||||||682,031|||714,836| |Net income before Investment||gains/gosses)||||9,484|||17,369| |QC Portfolo Movement|||||||||| |Reassed gains/gosses)|from trading||—avaHa5e for e-inveshnent|||36,215|||5,597| |Unreassed
gainsl (losses) from revaksatkm||||for Ihe period||51,104|||-55,771| |Balance Canied Forward||||||778,834|||682,031| |NOTE - SUMMARY OF QUILTER CHEVIOT PORTFOLIO ACTIVITY FOR PERIOD
Management
fees||||||-6,795|||6,593| |Dividends
and internet|||||||||19,486| |Reassed gains/(krsses)|from trading||—avagatae forre4rwestment|||36,215|||5,597| |Total reagsed return|||||||||18,490| |Unreassed
gakts/ posses) from revahabm||||forthe period||51,104|||-55,771| |Overall Movement||||||101,172|||-37,281| |Approved
by the Board|||||||||| |Captain Robin Keegan.|||||Chairman||||| |lan Melia|||||Treasurer|||||