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|Contents||||Pages|
|---|---|---|---|---|
|Reference and administrative||details||1—3|
|Trustees'<br>report||||4 —22|
|Independent|auditors'<br>report|||23-26|
|Group statement<br>offinancial||activities||27-28|
|Association|statement<br>offinancial<br>activities|||29-30|
|Consolidated|and Association|balance sheets||31-32|
|Consolidated|and Association|statements|ofcashflows||
|Notes to the|financial statements|||34 —67|





## 

## 

|REGISTERED CHARITY NUMBERS|226686 (England<br>and Wales), SC037673(Scotland)|226686 (England<br>and Wales), SC037673(Scotland)|
|---|---|---|
|PRINCIPAL OFFICE|Atlas House, 41Wembley<br>Road, Leicester, LE3|1UT|
|PATRON|Her Majesty The Queen||
|LIFEVICE-PRESIDENTS|Marshal ofthe Royal Air Force The Lord Stirrup|KG GCBAFC FRAeS|
||FCMI||
||Air Chief Marshal<br>Sir Stephen<br>Dalton GCBADC|BScFRAeS CCMI|
||Air Chief Marshal<br>SirJoseph Gilbert<br>KCB CBE||
||Air Chief Marshal<br>Sir Glenn Torpy GCB CBE DSO BSc(Eng) FRAeS||
||Air Chief Marshal<br>Sir Andrew<br>Pulford GCB CBE||
||Air Chief Marshal<br>Sir Stephen<br>Hillier GCB CBE DFC MA||
||Air Marshal<br>SirJohn Kemball<br>KCB CBE DL (Died|June 2021)|
||Air Marshal<br>Sir Dusty Miller KBE||
||Air Marshal<br>P0Sturley CB MBE BScFRAeS||
||Air Vice-Marshal<br>P Liddell CB BScCEng FIET FRAeS||
||Air Vice-Marshal<br>N Bairsto CB MBE||
||Air Commodore<br>A H Vaughan<br>OBE BA FIMgt||
||Dr BPattinson,<br>OBE(from January 2022)||
|TRUSTEE MEMBERS OF THE COUNCIL|||
|President|Air Marshal<br>Sir Baz North<br>KCBOBE MA FRAeS||
|Chairman|Air Vice-Marshal<br>J Cliffe CBOBE||
|Vice Chairman|Air Vice-Marshal<br>M Neal OBE CEng FIET(from|October 2021)|
||Dr BPattinson,<br>OBE(to October 2021)||
|Honorary Treasurer|Mr PTagg||
|Elected Members|Dr BPattison<br>OBE(to October 2021)||
||Mr M J Blackman (to October 2021)||
||Squadron<br>Leader D Gibson<br>RAF (to October 2021)||
||Mr C H Goss MA (to October 2021)||
||Mr<br>I L McEnnis DipNEBSM AinstAM<br>(Dip) (to October 2021)||
||Mr A P Rees (to October 2021)||
||Mrs BDennett Stannard<br>(to October 2021)||
||Mr P Ramrayka<br>MBA CIHM FIHM FIHEEM (to October 2021)||
||FRSP||





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|Committee||Chair|Number of|Number of|
|---|---|---|---|---|
||||members|meetings|
|Finance and|Investment|Mr P Tagg|||
|Fundraising|and Communications*|Mr CGoss|||
|Branch and|Membership|Mrs BDennett Stannard|10||
|Information||AVM M Neal|||
|Welfare||Ms FBarber|||
|Annual<br>Conference||Mr A Rees|||
|Audit||Mr<br>I Gawn|||
|Remuneration||AVM J Cliffe|||





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|||Notes|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
||||f'000|f'000|f'000|f'000|
|INCOME:|||||||
|Donations<br>and Legacies|||4,352||4,793|6,654|
|Donations —assets gifted from closed|||||||
|branches||28|1,015||1,015|(951)|
|Charitable<br>Activities:|||2,128|2,392|4,520|5,875|
|Other Trading Activities:|||||||
|Trading income|||456||456|302|
|Grand Draw and other fundraising|||||||
|income|||1,145||1,145|1,178|
|Investment<br>Income|||577||577|864|
|Total Income|||9,673|2,833|12,506|13,922|
|EXPENDITURE:|||||||
|Cost of Raising Funds|||1,660||1,660|2,140|
|Charitable<br>Activities:|||||||
|Residential<br>&Respite Care Home|||2,407||2,407|2,912|
|Friendship<br>8 Welfare Support|||6,622|3,043|9,665|10,967|
|Grants||||||151|
|Other Support Costs|||592||592|794|
|Other Expenditure:|||||||
|Interest<br>Paid on Branch Deposits|||19||19|17|
|Interest on Defined Benefit Pension|||||||
|Liabilities|||||||
|Share ofthe reduction<br>in value ofthe|||||||
|joint venture,<br>due to the distribution|of||||||
|the joint venture<br>funds, as intended||14||||252|
|Total Expenditure|||11311|3,043|14,354|17,240|





## 

|||Notes|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
||||E'000|E'000|E'000|E'000|
|Net gains on investment|assets|14(b)|2,575||2,575|27|
|Net (expenditure)/income|||937|(210)|727|(3,291)|
|Other recognised losses:|||||||
|Actuarial<br>gain/(losses)<br>on|defined benefit||||||
|pension scheme|||839||839|(427)|
|Net movement<br>in funds|||1776|(210)|1,566|(3,718)|
|Reconciliation of Funds|||||||
|Total Funds Brought Forward|||29,454|2,551|32,005|35,723|
|Total Funds Carried Forward|||31,230|2,341|33,571|32,005|





## 

||Notes|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
|||E'000|E'000|E'000|E'000|
|INCOME:||||||
|Donations<br>and Legacies||4,352|441|4,793|6,546|
|Donations —assets gifted from closed||||||
|branches|28|1,015||1,015|(9511|
|Charitable<br>Activities:||331|2,392|2,723|4,464|
|Other Trading Activities:||||||
|Grand<br>Draw and other fundraising||||||
|income||1,145||1,145|1,178|
|Investment<br>Income||577||577|864|
|Total Income||7,420|2,833|10,253|12,101|
|EXPENDITURE||||||
|Cost ofRaising Funds||1,030||1,030|1,765|
|Charitable<br>Activities:||||||
|Residential L Respite Care Home||2,355||2,355|2,791|
|Welfare Support||5,062|3,035|8,097|9,382|
|Grants|||||151|
|Other Support Costs||606||606|798|
|Other Expenditure:||||||
|Interest Paid on Branch Deposits||19||19|17|
|Interest on Defined Benefit Pension||||||
|Liabilities||||||
|Total Expenditure||9,083|3,035|12,118|14,911|





## 

|||Notes|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
||||E'000|E'000|f'000|E'000|
|Net gains on investment|assets|14(b)|2,575||2,575|27|
|Net income/(expenditure)|||912|(202)|710|(2,783)|
|Other recognised losses:|||||||
|Actuarial<br>gains/(losses)|on defined||||||
|benefit pension scheme|||839||839|(427)|
|Net movement<br>in funds|||1,751|(202)|1,549|(3,210)|
|Reconciliation<br>ofFunds|||||||
|Total Funds Brought Forward|||29,328|2,443|31,771|34,981|
|Total Funds Carried Forward|||31,079|2,241|33,320|31,771|





## 

|||Notes|Group||Association||
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||f'000|f.'000|f'000|E'000|
|Fixed assets:|||||||
|Intangible<br>assets||12|1,302|1,689|1,302|1,689|
|Tangible assets:|||||||
|Properties||13|5,404|6,229|4,996|5,843|
|Equipment<br>and furniture||13|579|689|393|522|
||||7,285|8,607|6,691|8,054|
|Investments:|||||||
|Investments||14|25,265|22,812|25,265|22,812|
|Programme<br>related|investments||||||
|-loan to branches|||129|131|129|131|
|Total fixed assets|||32,679|31,550|32,085|30,997|
|Current assets:|||||||
|Assets held for resale||15|550|580|550|580|
|Stocks|||392|435|||
|Debtors||16|305|402|1,156|1,252|
|Cash at bank and in|hand||4,041|4,382|3,560|3,886|
|Total current assets|||5,288|5,799|5,266|5,718|
|Current liabilities:|||||||
|Creditors: amounts|falling due within one||||||
|year||17|(4,127)|(4,235)|(4,031)|(4,114)|
|Net current assets|||1,161|1,564|1,235|1,604|
|Total assets less current liabilities|||33,840|33,114|33,320|32,601|
|Creditors: amounts|falling due after more||||||
|than one year||18|(269)|(279)|||
|Net assets excluding|pension scheme||||||
|liability|||33,571|32,835|33,320|32,601|
|Defined benefit pension scheme|||||||
|asset/(liability)||||(830)||(830)|
|Net assets including|pension scheme||||||
|liability|||33,571|32,005|33,320|31,771|





## 

|||Notes|Group||Association||
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||E'000|E'000|E'000|f'000|
|Funds:|||||||
|Income funds:|||||||
|Restricted funds||20|2,341|2,551|2,241|2,443|
|Unrestricted<br>funds:|||||||
|Designated<br>funds||21|18,932|18,769|18,932|18,769|
|General funds|||12,274|11,517|12,147|11,389|
|Pension scheme|deficit|||(830)||(830)|
|Net general funds|||12,274|10,687|12,147|10,559|
|Non-charitable|funds||24|(2)|||
|Total funds|||33,571|32,005|33,320|31,771|





## 

||||Notes|Group||Association||
|---|---|---|---|---|---|---|---|
|||||2021|2020|2021|2020|
|||||f'000|f'000|f'000|f'000|
|Cash flows from operating|activities||23|(2,562)|(2,158)|(2,611)|(2,295)|
|Cash flows from investing|activities|||||||
|Investment<br>income||||577|861|577|861|
|Interest receivable|||||3||3|
|Interest payable||||(19)|(17)|(19)|(17)|
|Receipt of Kaupthing<br>Singer and||||||||
|Friedlander<br>monies||||10|13|10|13|
|Payments to acquire intangible<br>fixed||||||||
|assets|||||(461)||(461)|
|Payments to acquire tangible<br>fixed assets||||(115)|(86)|(51)|(17)|
|Receipts from disposals of|fixed assets||||13||13|
|Payments to acquire investments||||(3,015)|(313)|(3,015)|(313)|
|Receipts from disposals of|investments|||4,591|3,635|4,591|3,625|
|Net cash provided<br>by investing<br>activities||||2,029|3,648|2,093|3,707|
|Cash flows from financing|activities|||||||
|Decrease in loans to branches||||2|1||1|
|Decrease in deposits<br>by branches||||190|547|190|547|
|Net cash from financing<br>activities||||192|548|192|548|
|Change<br>in cash and cash equivalents||in||||||
|the year||||(341)|2,038|(326)|1,960|
|Cash and cash equivalents|at the|||||||
|beginning ofthe year||||4,382|2,344|3,886|1,926|
|Cash and cash equivalents|at the end|of||||||
|the year||||4,041|4,382|3,560|3,886|





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|.<br>DONATION|S,<br>LEGACIES|AND SUBSCRIPTION|S||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|2021|2020|
||||f'000|E'000|E'000|E'000|
|Group|||||||
|Donations|||||||
|Residential|and respite|care homes||||29|
|Armed Forces Covenant||Fund Trust||211|211|1,027|
|Others|||1,223|230|1,453|1,827|
|Legacies|||2,158||2,158|2,886|
|Subscriptions|||971||971|885|
||||4,352||4,793|6,654|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|2021|2020|
||||E'000|E'000|E'000|E'000|
|Association|||||||
|Donations|||||||
|Residential|and respite|care homes||||29|
|Armed Forces Covenant||Fund Trust||211|211|1,027|
|Others|||1,223|230|1,453|1,719|
|Legacies|||2,158||2,158|2,886|
|Subscriptions|||971||971|885|
||||4,352||4,793|6,546|



## 



## 

||||||RAFA HL|RAFATRAD|RAFA Events|RAFA Kidz|RAFA Kidzone|
|---|---|---|---|---|---|---|---|---|---|
||||||2021|2021|2021|2021|2021|
||||||E'000|E'000|E'000|E'000|E'000|
|Income|||||191|633||1,050|684|
|Expenditure|||||(132)|(655)||(1,047)|(705)|
|Surplus/loss|for|the|financial|period|59|(22)||3|(21)|



||RAFA HL|RAFATRAD|RAFA Events|RAFA Kidz|RAFA Kidzone|
|---|---|---|---|---|---|
||2021|2021|2021|2021|2021|
||E'000|E'000|E'000|E'000|E'000|
|Assets|823|464||58|190|
|Liabilities|(282)|(560)||(408)|(32)|
|Funds (Share capital and reserves)|541|(96)||(350)|158|





## 

## 

|.<br>INVESTMENT INCOME AND INTEREST|||
|---|---|---|
|Group and Association|2021|2020|
||E'000|E'000|
|UK listed investments|450|747|
|Cash deposits||3|
|Branch and other loans|3||
|Properties|124|114|
||577|864|



## 

||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2021|2020|
||||||E'000|E'000|E'000|E'000|
|Group|||||||||
|Accommodation|fees||||431||431|458|
|Grants and fundraising||income|||36|2,392|2,428|3,256|
|Nursery funds|||||1,649||1,649|1,076|
|UK government|Coronavirus||job retention|scheme|12||12|1,085|
||||||2,128|2,392|4,520|5,875|



||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2021|2020|
||||||E'000|E'000|E'000|f'000|
|Association|||||||||
|Accommodation|fees||||245||245|321|
|Grants and fundraising||income|||84|2,392|2,476|3,251|
|UK government|Coronavirus||job retention|scheme|2||2|892|
||||||331|2,392|2,723|4,464|





## 

||||Employee|||||
|---|---|---|---|---|---|---|---|
||||and|||||
||||related|Depreciation|Other|Total|Total|
||||costs|and<br>amortisation|costs|2021|2020|
||||E'000|E'000|E'000|E'000|E'000|
|Costs of raising funds:||||||||
|Direct costs|||796||858|1,654|2,137|
|Allocated support costs||||||7|3|
|Charity's<br>charitable<br>activities||||||||
|Direct costs|||3,961||4,327|8,288|9,924|
|Allocated support costs|||2,272|600|1,504|4,376|4,900|
|Other expenditure||||||||
|Interest Paid on Branch Deposits|||||18|18|17|
|Interest on Defined|Benefit Pension|Liabilities|||11|11|7|
|Share ofthe reduction|in value ofthe joint venture,|||||||
|due to the dispersal of|the joint venture|funds, as|||||252|
|intended<br>(see note 14)||||||||
||||7,029|607|6,718|14,354|17,240|
|||||||2021|2020|
|Allocated support costs:||||||E'000|E'000|
|Heat and light||||||26|3|
|Other site costs||||||46|52|
|Advertising<br>and promotions||||||134|225|
|Printing<br>and stationery||||||106|108|
|Telephone||||||54|61|
|Insurance||||||117|226|
|Repairs and maintenance||||||57|27|
|Depreciation<br>and amortisation||||||607|470|
|Other expenditure||||||703|1,292|
|Other equipment||||||25|26|
|Staff costs||||||2,272|2,054|
|Governance<br>costs||||||236|359|
|||||||4,383|4,903|





## 

## 

||Employee|||||
|---|---|---|---|---|---|
||and|||||
||related|Depreciation|Other|Total|Total|
||costs|and|costs|2021|2020|
|||amortisation||||
||E'000|E'000|E'000|E'000|E'000|
|Costs of raising funds:||||||
|Direct costs|568||462|1,030|1,765|
|Allocated support costs||||||
|Charity's<br>charitable<br>activities||||||
|Direct costs|2,571||4,266|6,837|8,354|
|Allocated support costs|2,153|565|1,503|4,221|4,768|
|Other expenditure||||||
|Interest Paid on Branch Deposits|||19|19|17|
|Interest on Defined Benefit Pension Liabilities|||11|11|7|
||5,292|565|6,261|12,118|14,911|
|||||2021|2020|
|Allocated support costs:||||E'000|E'000|
|Heat and light||||26|3|
|Other site costs||||35|38|
|Advertising<br>and promotions||||135|221|
|Printing<br>and stationery||||105|107|
|Telephone||||50|61|
|Insurance||||109|224|
|Repairs and maintenance||||56|24|
|Depreciation<br>and amortisation||||565|437|
|Other expenditure||||695|1,273|
|Other equipment||||25|26|
|Staff costs||||2,153|1,945|
|Governance<br>costs||||267|409|
|||||4,221|4,768|





## 

|Group and|Association||2021|2020|
|---|---|---|---|---|
||||E'000|E'000|
|Welfare grants to individuals|||95|26|
|Association|property<br>grants to branches||6|7|
|Armed Forces Covenant||Fund Trust grants paid|||
|to branches|||583|526|
||||684|559|



## 

## 

|0. STAFF COS|TS||||||
|---|---|---|---|---|---|---|
||||Group||Association||
||||2021|2020|2021|2020|
||||E'000|E'000|E'000|E'000|
|Wages and salaries|||6,242|7,125|4,673|5,665|
|Social security|costs||571|592|461|504|
|Employer contributions||to defined|||||
|contributions|schemes||209|372|168|334|
||||7,022|8,089|5,302|6,503|





## 

|he average number <br>as:|ofemployees<br>throughout|the year, calculated<br>on a full-|time equivalen|t<br>basis, analysed<br>by location|t<br>basis, analysed<br>by location|
|---|---|---|---|---|---|
|||Group||Association||
|||2021|2020|2021|2020|
|||Number|Number|Number|Number|
|Welfare||44|69||69|
|Membership||20|29|20|29|
|Headquarters||60|65|60|65|
|Families Federation|Service|10|10|10|10|
|RAFATRAD|||6|||
|RAFA Housing|||1|||
|RAFA Kidz (inc Kidzone)||63|59|||
|||205|239|134|173|



|Group and Association|2021|2020|
|---|---|---|
||Number|Number|
|f60,001tof70,000|||
|f70,001 to f80,000|||
|f80,001to f90,000|||
|f90,001tof100,000|||
|f120,001to f130,000|||



## 



## 

|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|Rate of|increase|of|pensions||in payment|||3.4%|3.0%|
|Discount rate||||||||19%|1.3%|
|Inflation|assumption||(RPI)|||||33%|3.0%|
|The mortality||assumptions|||used in the valuation|ofthe pension|liabilities were:|||
|||||||||2021|2020|
|Retiring|today (currently|||aged 65):||||Years|Years|
|Males||||||||21.7|21.7|
|Females||||||||23.9|23.9|
|Retiring|in 20years||(currently||aged 45):|||||
|Males||||||||22.7|22.7|
|Females||||||||24.8|24.7|



|5January|2|010.|The Asso|ciation's<br>assets in the scheme at 31December|2021were:||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f'000|E'000|
|Bonds|||||4,130|3,315|
|Equities|||||2,630|2,801|
|Property||||||1,010|
|Insurance|contracts||||5,312|5,885|
|Diversified||funds|||2,594|2,393|
|LDI funds|||||2,930|2,145|
|Net current||assets|||53|177|
|Total assets|||||17,649|17,726|
||||||2021|2020|
||||||E'000|E'000|
|Fair value|ofscheme assets||||17,649|17,726|
|Present value of|||scheme|liabilities|(17,016)|(18,556)|
|Surplus/(deficit)|||in the scheme||633|(830)|
|Restriction||on recognition||ofscheme surplus|(633)||
|Total liability recognised||||||(830)|





## 

## 




## 

|Changes|in the fair value of plan assets|2021|2020|
|---|---|---|---|
|||E'000|E'000|
|Opening|plan assets|17,726|17,033|
|Interest|on assets|226|318|
|Gain on|asset return|420|1,048|
|Contributions<br>by employer||75|92|
|Benefits|paid|(725)|(707)|
|Expenses|paid by the scheme|(73)|(58)|
|Closing defined benefit obligation||17,649|17,726|



## 

|2. INTANGIBLE FIXEDASSETS|||
|---|---|---|
||Computer|Total|
|Group and Association|software||
||E'000|E'000|
|Cost or valuation:|||
|At 1January 2021|1,890|1,890|
|Disposals|(70)|(70)|
|At 31December 2021|1,820|1,820|
|Amortisation:|||
|At 1January 2021|201|201|
|Charge for year|326|326|
|Amortisation<br>on disposals|(9)|(9)|
|At 31December 2021|518|518|
|Net book Value:|||
|At 31December 2021|1,302|1,302|
|At 31December 2020|1,689|1,689|





|3. TANGIBLE FIXEDAS|SETS|||||
|---|---|---|---|---|---|
|||Properties||||
||||Short|Equipment|Total|
|Group||Freehold|Leasehold|and Furniture||
|||E'000|f'000|E'000|E'000|
|Cost or valuation:||||||
|At 1January 2021||8,365|59|2,322|10,746|
|Additions||33||82|115|
|Disposals||||(106)|(106)|
|Transfer to investment|properties|(1,150)||(224)|(1,374)|
|At 31December 2021||7,248|59|2,074|9,381|
|Depreciation:||||||
|At 1January 2021||2,168|27|1,633|3,828|
|Charge for year||145||135|281|
|Depreciation<br>on disposal||||(96)|(96)|
|Transfer to investment|properties|(438)||(177)|(615)|
|At 31December 2021||1,875|28|1,495|3,398|
|Net book Value:||||||
|At 31December 2021||5,373|31|579|5,983|
|At 31December 2020||6,197|32|689|6,918|
|||Properties||||
||||Short|Equipment||
|Association||Freehold|Leasehold|and Furniture|Total|
|||f'000|E'000|E'000|E'000|
|Cost or valuation:||||||
|At 1January 2021||7,671|59|1,883|9,613|
|Additions||||51|51|
|Disposals||||(105)|(105)|
|Transfer to investment|properties|(1,150)||(224)|(1,374)|
|At 31December 2021||6,521|59|1,605|8,185|
|Depreciation:||||||
|At 1January 2021||1,860|27|1,361|3,248|
|Charge for year||134||104|239|
|Depreciation<br>on disposals||||(76)|(76)|
|Transfer to investment|properties|(438)||(177)|(615)|
|At 31December 2021||1,556|28|1,212|2,796|
|Net book Value:||||||
|At 31December 2021||4,965|31|393|5,389|
|At 31December 2020||5,811|32|522|6,365|





## 

## 


## 

||||||||Listed|Investment||
|---|---|---|---|---|---|---|---|---|---|
||||||||Investments|property|Total|
||||||||f.'000|f'000|f'000|
|1January|2021||||||20,973|1,839|22,812|
|Additions|||||||3,015||3,015|
|Transfer|from fixed assets|||||||759|759|
|Transfer|from current||assets|||||500|500|
|Disposals|||||||(4,209)|(382)|(4,591)|
|Net investment||gains|(see note 14b)||||2,279|286|2,565|
|Transfer|of Formby||Branch|Fund|to Formby|Branch||||
|creditor|||||||205||205|
|31December 2021|||||||22,263|3,002|25,265|





## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||E'000|E'000|
|Income||||||
|Expenditure|||||(115)|
|Net expenditure|||||(115)|
|The Association's||share ofRAF100Appeal's assets and liabilities|is as follows:|||
|||||2021|2020|
|||||E'000|E'000|
|Current|assets||||214|
|Current|liabilities||||(214)|
|Net assets||||||





## 

## 

||||||||Branch|Deposit|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Branch Deposit|Fund|—Formby||
||||||||Fund||Branch|Total|
||||||||f'000||f'000|f'000|
|2021|||||||||||
|North America|||||||2,959||127|3,086|
|European|||||||436||19|455|
|Asia Pacific|||||||836||61|897|
|Emerging|market||||||177|||177|
|Global|||||||3,825||236|4,061|
||||||||8,233||443|8,676|
|2020|||||||||||
|North America|||||||3,602||154|3,756|
|European|||||||385||17|402|
|Asia Pacific|||||||1,427||80|1,507|
|Emerging|Market||||||495|||495|
|Global|||||||4,365||224|4,589|
||||||||10,274||475|10,749|
|b) Net gains on||investment||assets|||||||
|Group and Association|||||||||2021|2020|
||||||||||f'000|f'000|
|Net gains|on listed investments||||||||2,279|14|
|Net gains|on investment||properties||||||286||
|Net gains|on current asset|||investments|||||||
|- Kaupthing||Singer|and|Friedlander|distribution|(see note 26)|||10|13|
||||||||||2,575|27|





## 

|5. ASSETS HELD FOR RESALE|||
|---|---|---|
||2021|2020|
|Group and Association|E'000|E'000|
|Freehold properties|550|580|



## 

|6. DEBTORS:|AMOUNTS<br>FALLING DUE WITHIN ON|E YEAR||||
|---|---|---|---|---|---|
|||Group||Association||
|||2021|2020|2021|2020|
|||E'000|E'000|E'000|E'000|
|Trade debtors||53|23|51|21|
|Amounts<br>due|from subsidiaries|||865|911|
|Prepayments|and accrued income|183|321|173|294|
|Other debtors||69|58|67|26|
|||305|402|1,156|1,252|



## 

|7. CRED|ITORS: AMOU|NTS<br>FALLING DUE WITHIN|ONE YEAR||||
|---|---|---|---|---|---|---|
||||Group||Association||
||||2021|2020|2021|2020|
||||E'000|E'000|f'000|E'000|
|Taxation|and social security costs||176|281|136|263|
|Other creditors|||288|830|223|708|
|Accruals|and deferred|income|630|467|587|447|
|Deposits|by branches||1,907|1,717|1,907|1,717|
|Formby|Branch||1,126|940|1,126|940|
|Amounts|owed to subsidiaries||||52|39|
||||4,127|4,235|4,031|4,114|





## 

## 

||||Group||Association|Association|
|---|---|---|---|---|---|---|
|||2021||2020|2021|2020|
|||f'000||f'000|f'000|f'000|
|Accruals||374||252|343|238|
|Deferred|income|256||215|244|209|
|||630||467|587||



|ncluded<br>in accruals is an am|ount off33k(202|0:f37k) in respect of unpa|id<br>pension contributions.||
|---|---|---|---|---|
||||Group|Association|
|Movement<br>in deferred income:|||f'000|f'000|
|2021opening balance|||215|209|
|Release during the year|||(210)|(209)|
|2021donations,<br>fulfilment|income and grants|in advance|251|244|
|2021closing balance|||256||



## 

|8.<br>CRE|DITORS:|AMOUNT|S<br>FALLING DUE AFTER|MORE THAN ONE YEAR||||
|---|---|---|---|---|---|---|---|
|||||Group||Association||
|||||2021|2020|2021|2020|
|||||f'000|f'000|f'000|f'000|
|Deferred|income|—capital|grant|269|279|||
|||||269|279|||





## 

|||||||Group|||Association|Association||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||2021|2020||2021|2020||
|||||||E'000|E'000||E'000|E'000||
|Equipment:||||||||||||
|Due within one year||||||9||11|9|10||
|Due between two and||five|years|||19||33|19|27||
|Land and buildings:||||||||||||
|Due within one year||||||51||40|16|13||
|Due between two and||five|years|||24||8|15|3||
|||||||103||92|59|53||
|0.<br>RESTRICTED FUNDS||||||||||||
|||||At||||||At||
|Association||||1January||||||31December||
|||||2021|Income|Expenditure||Transfers||2021||
|||||E'000|E'000||E'000||K'000|E'000||
|Eastern Area Chalet|Fund|||109||22||(4)||127||
|Homes Refurbishment||||151||||||151||
|Flowerdown<br>House||||113||||||113||
|Rothbury<br>House||||49|||(37)||||12|
|Richard Peck House|Stairlift|||11|||||||11|
|Respite Care and Welfare||||361||||||361||
|Conway Legacy (Formerly|||known|86|||||||86|
|as Ivor Maloney)||||||||||||
|Scottish Development||Fund||22|||||||22|
|National<br>Memorial|Arboretum|||||14|||||14|
|Preston Office||||50|||(50)|||||
|Forces in Mind Trust||||142|||||(142)|||
|Storybook Wings||||4|||||||4|
|RAF Benevolent<br>Fund Grants||||229|2,241||(2,169)|||301||
|Libor||||105|||(22)||(83)|||
|Vehicle fund for Areas||||56|||(56)|||||
|Volunteer<br>Welfare|Officers|||8|||||||8|
|Wexford||||58|||||||58|
|Befriending||||||57|||||140|
|Veterans||||501|211||(583)||||129|
|Rothbury|||||168||||||168|
|Military Coworking||||||85|(82)||142||145|
|Other Restricted<br>Funds||||388||35|(32)||||391|
|||||2,443|2,833||(3,035)|||2,241||
|Group||||||||||||
|Digby Nursery<br>Fund||||108||||(8)|||100|
|||||2,551|2,833||(3,043)|||2,341||



## 



## 

|||||At||||At|
|---|---|---|---|---|---|---|---|---|
|Association||||1January||||31December|
|||||2020|Income|Expenditure|Transfers|2020|
|||||f'000|f'000|f'000|f'000|f'000|
|Eastern Area|Chalet Fund|||84|32|(7)||109|
|Homes Refurbishment||||151||||151|
|Richard Peck|House|||82|||(82)||
|Flowerdown|House|||113|5|(5)||113|
|Rothbury<br>House||||38|12|(1)||49|
|Richard Peck|House Stairlift|||11||||11|
|Respite Care|and|Welfare||361||||361|
|Sussexdown|Residents'||Fund|60|||(60)||
|Ivor Maloney||||86||||86|
|Scottish Development|||Fund|22||||22|
|Talking Air Mail||||(2)|||||
|Preston Office||||51||(1)||50|
|Forces in Mind Trust||||63|165|(86)||142|
|Storybook Wings||||4||||4|
|RAF Benevolent||Fund Grants||197|2,693|(2,661)||229|
|Libor||||109||(4)||105|
|Vehicle fund|for|Areas||56||||56|
|Volunteer<br>Welfare Officers||||12||(4)||8|
|Wexford||||66|9|(17)||58|
|Befriending|||||17|(30)|||
|Veterans|||||1,027|(526)||501|
|Other Restricted||Funds||205|292|(109)||388|
|||||1,769|4,252|(3,451)|(127)|2,443|
|Group|||||||||
|Digby Nursery|Fund||||108|||108|
|||||1,769|4,360|(3,451)|(127)|2,551|





## 

||||At||||At|
|---|---|---|---|---|---|---|---|
||||1January||||31December|
|Group and Association|||2021|Income|Expenditure|Transfers|2021|
||||E'000|f'000|f'000|E'000|E'000|
|Fixed Assets|||3,375||||3,375|
|Membership||Innovation|346||||346|
|Investment||Fund|4,310||||4,310|
|Welfare|Fund||8,000||||8,000|
|Property|Repairs and Maintenance||750||||750|
|Defined|Benefit Pension Scheme||1,988||||1,988|
|Rothbury||||163|||163|
||||18,769|163|||18,932|



|||At||||At|
|---|---|---|---|---|---|---|
|||1January||||31December|
|Group and Association||2020|Income|Expenditure|Transfers|2020|
|||E'000|f'000|f'000|E'000|E'000|
|Fixed Assets||3,375||||3,375|
|Homes|Review|86|||(86)||
|Membership<br>Innovation||346||||346|
|Investment<br>Fund||4,310||||4,310|
|Homes|Fund|1,355|||(1,355)||
|Welfare|Fund|1,500|||6,500|8,000|
|Property|Repairs and Maintenance|7,375|||(6,625)|750|
|Defined|Benefit Pension Scheme|1,988||||1,988|
|||20,335|||(1,566)|18,769|





## 



## 

|Group:||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||Funds|Funds|Funds|
|||f'000|f'000|E'000|
|Funds balances at31December 2021|||||
|are represented|by:||||
|Intangible<br>fixed assets||1,302||1,302|
|Tangible fixed assets||5,983||5,983|
|Investments||25,265||25,265|
|Loans to branches||129||129|
|Current assets||2,947|2,341|5,288|
|Current<br>liabilities||(4,127)||(4,127)|
|Creditors due after one year||(269)||(269)|
|Pension<br>provision|capped at nil||||
|Total net assets||31,230|2,341|33,571|
|Association:||Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
|||E'000|E'000|E'000|
|Funds balances at31December 2021|||||
|are represented|by:||||
|Intangible<br>fixed assets||1,302||1,302|
|Tangible fixed assets||5,389||5,389|
|Investments||25,265||25,265|
|Loans to branches||129||129|
|Current assets||3,025|2,241|5,266|
|Current<br>liabilities||(4,031)||(4,031)|
|Pension<br>provision|capped at nil||||
|Tota I net assets||31,079|2,241|33,320|





|Group:||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||Funds|Funds|Funds|
|||E'000|E'000|E'000|
|Funds balances at 31December 2020|||||
|are represented|by:||||
|Intangible<br>fixed assets||1,689||1,689|
|Tangible fixed assets||6,918||6,918|
|Investments||22,812||22,812|
|Loans to branches||131||131|
|Current assets||3,248|2,551|5,799|
|Current<br>liabilities||(4,235)||(4,235)|
|Creditors due after one year||(279)||(279)|
|Pension<br>provision||(830)||(830)|
|Tota I net assets||29,454|2,551|32,005|
|Association:||Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
|||E'000|E'000|f'000|
|Funds balances at 31December 2020|||||
|are represented|by:||||
|Intangible<br>fixed assets||1,689||1,689|
|Tangible fixed assets||6,365||6,365|
|Investments||22,812||22,812|
|Loans to branches||131||131|
|Current assets||3,275|2,443|5,718|
|Current<br>liabilities||(4,114)||(4,114)|
|Pension provision||(830)||(830)|
|Total net assets||29,328|2,443|31,771|





## 

||||||Group||Association||
|---|---|---|---|---|---|---|---|---|
||||||2021|2020|2021|2020|
||||||E'000|E'000|f'000|E'000|
|Net income/(expenditure)|||||727|(3,291)|710|(2,783)|
|Adjustments<br>for:|||||||||
|Gifted properties|||||(1,015)|951|(1,015)|951|
|Share ofjoint venture||||||252|||
|Contributions<br>to defined|benefit scheme||||(75)|(92)|(75)|(92)|
|Expenses borne by pension||scheme|||73|58|73|58|
|Depreciation<br>charges|||||281|359|239|326|
|Amortisation<br>charges|||||326|111|326|111|
|Amortisation<br>ofcapital grant|||||(10)|(4)|||
|Loss on disposal offixed|assets||||10|16|29|16|
|Gains on investments|||||(2,780)|(27)|(2,780)|(27)|
|Deficit on intangible<br>assets|||||61||61||
|Investment<br>income|||||(577)|(864)|(577)|(864)|
|Return on defined benefit||scheme assets|||(226)|(318)|(226)|(318)|
|Interest paid|||||19|17|19|17|
|Interest on defined benefit||pension||liabilities|237|325|237|325|
|Decrease<br>in assets for resale|||||545|294|545|294|
|Decrease/(increase)<br>in stocks|||||43|(100)||8|
|Decrease/(increase)<br>in debtors|||||97|234|96|(169)|
|(Decrease) in creditors|||||(298)|(79)|(273)|(148)|
|Net cash (used in) operating|||activities||(2,562)|(2,158)|(2,611)|(2,295)|
|4. CASH AND CASH EQUIVALENTS|||||||||
||||||Group||Association||
||||||2021|2020|2021|2020|
||||||E'000|E'000|E'000|E'000|
|Cash and cash equivalents||represent:|||||||
|Cash at bank|||||1,503|1,853|1,022|1,357|
|Cash held by investment|managers||||2,538|2,529|2,538|2,529|
||||||4,041|4,382|3,560|3,886|



## 

## 

## 



## 

## 


## 


## 



## 

## 

|||||Notes|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2020|
||||||f'000|E'000|E'000|
|INCOME:||||||||
|Donations<br>and Legacies||||3|5,383|1,271|6,654|
|Donations —assets gifted from closed branches||||28|(951)||(951)|
|Charitable<br>Activities:|||||2,786|3,089|5,875|
|Other Trading Activities:||||||||
|Trading income|||||302||302|
|Grand<br>Draw and other|fundraising|income|||1,178||1,178|
|Investment<br>Income|||||864||864|
|Total Income|||||9,562|4,360|13,922|
|EXPENDITURE:||||||||
|Cost of Raising Funds|||||2,140||2,140|
|Charitable<br>Activities:||||||||
|Residential L Respite Care Home|||||2,878|34|2,912|
|Friendship<br>8 Welfare Support|||||7,640|3,327|10,967|
|Grants|||||65|86|151|
|Other Support Costs|||||790||794|
|Other Expenditure:||||||||
|Interest<br>Paid on Branch Deposits|||||17||17|
|Interest on Defined Benefit Pension||Liabilities||||||
|Share ofthe reduction|in value ofthe joint||venture,|||||
|due to the distribution|ofthe joint|venture|funds,|||||
|as intended|||||252||252|
|Total Expenditure|||||13,789|3,451|17,240|





## 

## 

|||Notes|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||Funds|Funds|2020|
||||E'000|E'000|E'000|
|Net gains on investment|assets|14(b)|27||27|
|Net (expenditure)/income|||(4,200)|909|(3,291)|
|Gross transfers<br>between|funds||127|(127)||
|Net (expenditure)/income|||(4,073)|782|(3,291)|
|Other recognised<br>losses:||||||
|Actuarial<br>losses on defined benefit pension scheme||11|(427)||(427)|
|Net movement<br>in funds|||(4,500)|782|(3,718)|
|Reconciliation ofFunds||||||
|Total Funds Brought Forward|||33,954|1,769|35,723|
|Total Funds Carried Forward|||29,454|2,551|32,005|





## 

|||Notes|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||Funds|Funds|2020|
||||E'000|E'000|E'000|
|INCOME:||||||
|Donations<br>and Legacies||3|5,383|1,163|6,546|
|Donations —assets gifted from closed branches||28|(951)||(951)|
|Charitable<br>Activities:|||1,375|3,089|4,464|
|Other Trading Activities:||||||
|Grand Draw and other fundraising|income||1,178||1,178|
|Investment<br>Income|||864||864|
|Total Income|||7,&49|4,252|12,101|
|EXPENDITURE||||||
|Cost of Raising Funds|||1,765||1,765|
|Charitable<br>Activities:||||||
|Residential 5Respite Care Home|||2,757||2,791|
|Welfare Support|||6,055|3,327|9,382|
|Grants|||65|86|151|
|Other Support Costs|||794||798|
|Other Expenditure:||||||
|Interest Paid on Branch Deposits|||17||17|
|Interest on Defined Benefit Pension|Liabilities|||||
|Total Expenditure|||11,460|3,451|14,911|





## 

## 

|||Notes|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||Funds|Funds|2020|
||||f'000|E'000|E'000|
|Net gains on investment|assets|14(b)|27||27|
|Net (expenditure)/income|||(3,584)|801|(2,783)|
|Gross transfers<br>between|funds||127|(127)||
|Net (expenditure)/income|||(3,457)|674|(2,783)|
|Other recognised<br>losses:||||||
|Actuarial<br>losses on defined benefit pension scheme||11|(427)||(427)|
|Net movement<br>in funds|||(3,884)|674|(3,210)|
|Reconciliation ofFunds||||||
|Total Funds Brought Forward|||33,212|1,769|34,981|
|Total Funds Carried Forward|||29,328|2,443|31.771|