# e}| CHARITY COMMISSION FOR ENGLAND AND WALES ## Trustees’ Annual Report for the period From: 1st October 2022 To: 30th September 2023 Charity name: The Air Pilots Benevolent Fund ## Charity registration number: 212952 ## Objectives and Activities |es
ummary ofthe|a
reference
Para1.17|la) The relief of poverty of persons who are or have been| |---|---|---| |purposes ofthe charity||engaged professionally as Air Pilots or Air Navigators in| |as set out in its||ommercial Aviation and who are British Subjects by birth| |governing document||lor by naturalisation orwho are Liverymen, Upper Freemen| |||or Freemen ofThe Honourable Company ofAir Pilots.| |||b) The reliefof poverty and/oradvancement ofeducation of| |||he dependants, widows, and orphans of all such persons| |||as mentioned in (a).| |||ic) Insofaras 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 ini| |||he
field
of
aviation
or
for such
charitable
purposes| |||connected with aviation as the trustees shall determine.
|| |Summary ofthe main
activities in relation to
those purposes forthe|P2117
FP"'"°|(Regularand occasional grants for the relief of poverty.
Bursaryfor Flying Instructordevelopment.
|
Grants for PPL Scholarships via Air Pilots Trust.| |public benefit, in||Provision of gliding scholarships for young people via the| |particular, the||Air Pilots gliding scheme.| |activities, projects or||rants forAir Pilots Schools Gliding Scheme.| |services identified in||Donations to the London Air Ambulance.| |the accounts||| |Statement confirming|F22118|[In making grants the trustees comply with Chapter 1 Part 1| |whether the trustees||of the Charities Act 2011 to have due regard for the publi| |have hac regard to the||benefit guidance issued by the Charity Commissioners.| |Quidance issued Dy||| |the Charity||| |‘Commission on public||| |benefit||| |Additional information (optional)
i||| |You may
choose to include further statements where relevant about:||| |Policy on grant
making|Para 138|Requests for assistance are made through theAlmoner fo
the Board to consider. Grants are only given aftera
full| |||assessment of the applicant’s needs, such grants and| |||searches sometimes being made in co-operation with othe| |||organisationswithsimilarobjectsastheFund.| 1 Policy on social Para 1.38 investment including program related investment olunteers a ee ## Achievements and Performance eference ae eeee ummary of the main Para 1.20 he fund’s main objective is the relief of poverty. We have achievements of the ontinued to fund existing beneficiaries and assisted ne harity, identifying the ases. As examples, grants to beneficiaries have enabled difference the charity’s hem to continue living at home, contributions to energ ork has made to the osts and to fund revalidation of licences in order to re-enter circumstances of its paid employment. The Trust deed also allows us to assist beneficiaries and any other charities and charitable purposes connected with ider benefits to aviation. Trustees consider that offering assistance which Society as a whole. allows young people from deprived areas of Inner London and elsewhere the opportunity to fly in a glider promotes heir self-confidence and takes them out of their home nvironment to good effect. The educational benefits of ffering bursaries and PPL scholarships are self-evident but hey also provide opportunities to develop self-confidence nd social and citizenship skills which is of benefit to th ider community in which they live. The donation to th London Air Ambulance is to assist with equipment | rades to the benefit of the wider public. ## Additional information (optional) |Additional information (optional)|Additional information (optional)|Additional information (optional)| |---|---|---| |You may choose to include further statements where relevant about:||| |re
Achievements against|ee
Par 1.41|| |objectives set||| |Performance of|Para 1.41|| |undraising activities||| |against objectives set||| |Investment|Para 1.41|lHas been broadly satisfactory.| |performance against||| |objectivesMn||| 2 ## Financial Review **----- Start of picture text -----**
||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |eference| |||ence||| |inancial|position|at the|assets was|approximately|£709,000| |end|of|the|period| |tatement|explaining|Para|1.22|rustees|consider|a|prudent|level|of|reserves|to|be|that| |he|policy|for|holding|hich|will|enable|planned|expenditure|and|a|reasonable| |reserves|stating|why|all|for|unforeseen|charitable|assistance|to|be|met|in|the| |hey|are|held|event|of|a|downturn|in|equity|markets.| |eld| |zero|reserves| |materially|in|deficit| |Explanation|of|any|Para|1.23|N/A| |uncertainties|about|the| |harity|continuing|as|a| |going|concern| |Additional|information|(optional)| |You|may|choose|to|include|further statements|where|relevant|about:| |a|ee| |he|charity’s|principal|[Para|1.47|Investment|income|and|donations|from|members|of|the| |(including|any|utilising|Gift|Aid|where|appropriate.| |undraising| |ources of|funds|ae|~~ Company of Air Pilots and other benefactors| |Investment|policy|and|[Para|1.46|o achieve|a|balance|between|income|and|capital|growth,| |objectives|including|ith|a|moderate|level|of|risk.|The|return|from|the| |any|social|investment|investment|portfolio|should|be|at|least|in|line|with|that|of| |policy|adopted|he|MSCI|WMA|Private|Investor|Balanced|(TR)|index.| |A|description|of the|‘Para|1.46|Despite|market|conditions|over|the|past|year|curren| |principal|risks|facing|analysis|does|not|indicate|any|serious|risks to the|Charity.| |he|charity|In|the|event|of a|significant|fall|in|equity|markets|it|should| |till|be|possible|to|deliver|the|primary|objectives|of|the| |harity.| |Porre@e Fae| **----- End of picture text -----**
## Structure, Governance and Management **----- Start of picture text -----**
|||| |---|---|---| |arusts:|reference| |document| |How is the charity|pests|Princorporated| **----- End of picture text -----**
3 |rustee selection|Para 1.25|Appointment ofnew trustees is made by existing trustees| |---|---|---| |methods including||ith the approval ofthe Court ofthe Honourable Company| |details ofany||of Air Pilots. Appointments are made from applications)| |constitutional||received
following
advertising
within
the
Company.| |provisions e.g. election||rustees review such
applications with
regard to the| |O post or name ofany||guidance contained
in Charity Commission documen| |person or body entitled||C30.
New trustees are
issued with the document| |© appoint one or more||specified in the Scheme.| |rustees||| |Additional information (optional)||| |You may
choose to include further||statements where relevant about:| |a
Policies and|ORP
eeee
Para 1.51
Prior to appointment potential trustees are invited to|| |procedures adopted||attend Board meetings as observers. Upon appointment| |orthe induction and||new trustees are provided with an Induction Pack| |raining oftrustees||ontaining the Scheme Document and previous minutes.| |he charity’s|Para 1.51|The charity has good working relationships with a| |organisational||number ofother charities with similar objectives e.g The| |structure and any||BALPA Benevolent Fund, The RAF Benevolent Fund,| |ider network with||ISSAFA and the Officers Association.| |hich the charity||| |orks||| |Relationship with any|Para 1.51|| |related parties
Cher
TCOOCOCOCOCSCSCSCSC‘*||| ## Reference and Administrative Details |Othernamethechatyuses
Registered charity number|Air Pilots Benevolent Fund
|
SSCSC“‘“*~*~*
12952| |---|---| |Charity’s principal address|c/o The Honourable Company ofAir Pilots| ||Air Pilots House| ||52A Borough High Street| ||LondonSE11XN| Names of the charity trustees who manage the chari |||;
Name ofperson (or body)| |---|---|---| |||an| |(Mela|eaurer|TS
FromJanuary24" 2028|| |||ToJanuary242028| |KTraser|[=|PromNoveribertein2022)| 4 **----- Start of picture text -----**
J.Legat Master of the From 25 March 2023 Honourable Company of Air
ompany Pilots
Ex Officio
ompan
ompan
R. Keegan Master of the To 25% March 2023
ompan
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## Corporate trustees — names of the directors at the date the report was approved **----- Start of picture text -----**
Name of trustees holding title to property belonging to the charit
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## Funds held as custodian trustees on behalf of others Description of the assets held in this capacit Name and objects of the charity on whose behalf the assets are held and how this alls within the custodian harity’s objects Details of arrangements for afe custody and segregation of such assets from the charity's own assets ## Additional information (optional) Names and addresses of advisers Name of chief executive or names of senior staff members ## Exemptions from disclosure 5 Reason for non-disclosure of key personnel details. ## Other optional information ## Declarations The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees **----- Start of picture text -----**
a
Full name(s) | Adrian J. Keenan
Position .
(e.g. Secretary, Chair)
Date | 24" January 2024
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6 ## AIR PILOTS BENEVOLENT FUND ## Report of the Independent Examiner to the Trustees for the year ended 30 September 2023 | report to the charity trustees on my examination of the accounts of the Air Pilot Benevolent Fund for the year ended 30 September 2023. ## Responsibilities and basis of report As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act") | report in respect of my examination of the Fund's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent Examiner's Statement | have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Fund as required by section 130 of the Act; or - 2 the accounts do not accord with those records; or 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out on the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts givea true and fair view which is not a matter considered as part of an independent examination. | confirm that there are no matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. ## P F Newman Beren House East End, Aynho Road Adderbury Oxon OX17 3NJ THE AIR PILOTS BENEVOLENT FUND ACCOUNTS FOR 12 MONTHS ENDED 30 SEPTEMBER 2023 VS 2022 ## INCOME AND EXPENDITURE ACCOUNT **----- Start of picture text -----**
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2022|2023| |Income|£|£| |Investment|Income:| |Dividends and|interest|from|Sarasin|Portfolio|from|11|Oct|21|15,278|20,921| |Dividends|and|interest|from QC|Portfolio to|3 Dec 22|2,044|0| |Interest|on|CAF|Bank|Current|Account|0|11| |Donations:| |HCAP|Members|8,851|7,350| |Occasional|Donations|0|6,599| |Other|Livery|Companies/Per|Caelum|Lodge|1,800|800| |Gift|Aid|Tax Refund|0|5,831| |Total|Income|27,973|41,512| |Expenditure| |Charitable|Activities:| |Benevolence|Grants|5,873|9,255| |Other|Grants|21,350|28,299| |Charitable|Donations|0|2,000| |Bank|Charges|90|66| |Board|of Management|Expenses|1,037|1,582| |Independent|Examiner's|fees|250|250| |Total|Charitable Activities|28,600|41,452| |Expenditure|on|raising|funds:| |Investment|Portfolio|Management|Fees|&|Transaction|Costs|7,279|8,131| |Total|Expenditure|35,879|49,583| |Income Account:|Net surplus/(deficit)|before Investment gains/(losses)|-7,905|-8,071| |BALANCE|SHEETS| |30|September|2022|30|September|2023| |£|£| |CURRENT ASSETS| |Sarasin/Quilter|Cheviot|Portfolio:| |Investments|673,473|696,171| |Cash|held|for investment|16,541|7,322| |Total|Portfolio|690,014|703,493| |Debtors|100|4,538| |Cash|at|bank (CAF|Bank)|1,957|2,846| |692,071|710,877| |CURRENT|LIABILITIES| |Accruals|5,456|1,643| |BELASBETS|_|———| |ee|ee || |RETAINED|FUNDS| |Balance|Brought|Forward|778,834|686,615| |Net|surplus/(deficit)|before|Investment|Gains/(Losses)|-7,905|-8,071| |Portfolio|Gains/(Losses)|-84,314|30,690| |Balance|Carried|Forward|686,615|709,234| |Reconciliation|of|Portfolio|Gains/(Losses)| |Quilter Cheviot|Revaluation|Loss|on transfer to|Sarasin|-4,569|ie)| |Sarasin|Cumulative|Gains/(Losses)|at end|of prior year|ie)|-85,027| |Sarasin|Cumulative|Gains/(Losses)|at end|of year|-85,027|-62,329| |Gain/(Loss)|for year|-89,596|22,698| |Add:|Total|Sarasin|Fees|for year|5,379|8,131| |Less:|Total|Sarasin|Fees|for year|paid|in|Cash|97|139| |Total|Gain/(Loss)|for year pre-fees settled|within|Portfolio|-84,314|30,690| **----- End of picture text -----**
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Approved by the soar of January 2024
SS
Captain Adrian Keenan.st .... TT it cteeeesescscesessesssnsnesnnensneseaes Chairman
\
lan Melia eh Neo ee. Treasurer
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