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2022-12-31-accounts

REGISTERED CHARITY NUMBERS 226686 (England
and Wales), SC037673(Scotland)
PRINCIPAL OFFICE Atlas House, 41Wembley
Road, Leicester, LE3 1UT
PATRON Her Majesty The Queen (to September 2022)
LIFEVICE-PRESIDENTS Marshal ofthe Roya I Air ForceThe Lord Stirrup
KG GCBAFC FRAeS
FCMI
Air Chief Marshal
Sir Stephen
Dalton
KCBADC BScFRAeS CCMI
Air Chief Marshal
SirJoseph Gilbert KCBCBE LLD (hc)
Air Chief Marshal
Sir Glenn Torpy GCB CBE DSO ADC		 BSc (Eng)
FRAeS
Air Chief MarshalSir
Andrew
Pulford
GCB CBEADC
Air Chief Marshal
Sir Stephen
Hillier GCB CBE DFC ADC		 MA
Air Marshal
Sir Dusty Miller KBE
Air Marshal
P0Sturley CB MBE BScFRAeS
Air Vice-Marshal
P Liddell CBBScCEng FIETFRAeS
Air Vice-Marshal
N Bairsto CBMBE
Air Commodore
A H Vaughan
OBE BA FIMgt
Dr BPattinson,
OBE (from January 2022)
TRUSTEE MEMBERS OF THE COUNCIL
President Air Marshal
Sir Bat North
KCBOBE MA FRAeS
Chairman Air Vice-Marshal
J Cliffe CBOBE(to October 2022)
Air Vice-Marshal
A N CReid CBOStl MBChB MSc DRCOG DAvMed
FFOM (from October 2022}
Vice Chairman Air Vice-Marshal
M Neal OBE CEng FIET
Honorary Treasurer Mr P Tagg
Area Elected Members Mr R Blunden (South-East and Eastern) (from October 2022)
Ms M Greer (Scotland, Northern
Ireland and Northern		 England)
{from October 2022)
Mr G Overton (European
and Overseas) (from October		 2022)
Mr A P Rees (Wales, Midlands
and South-West)
(from		 October
2022)
Mr M Watkins
(Central) (from October 2022)
Area Representatives Area Representatives Mr FCBarrett MBE (South-East and Eastern) Mr FCBarrett MBE (South-East and Eastern) (to March
2022)
Mr J Gilmour (South-East and Eastern) (from March 2022
to October 2022)
Mr D Chappell
(Northern)
(to October		 2022)
Mrs M Addison
(Wales, Midlands
and		 South-Western)
(to October 2022)
Mrs S Kidston (Scotland and Northern Ireland) (to
October 2022)
Air Commodore
A Neal AFC FRAeS (European		 and
Overseas) (to October 2022)
Members appointed by the Royal Air Force Air Commodore
G A Opie MDA MA BScFCIPD		 RAF
Squadron
Leader
K Roachford
RAF
Warrant
Officer M Rees-Martin
Appointed
Member		 Ms F Barber
Ms SBarber
Mrs P Bearblock
SENIOR MANAGEMENT TEAM
Secretary General Mr N Bunting OBE CDir FIOD MCMI
Director ofMember Branch and Wellbeing Mr R O' Connor
MA
Director ofMarketing, Fundraising and Trading Ms R Huxford
MBE MlnstF
Chief Finance Officer
Mrs
K Parkin JP BSc(Hons) ACMA CGMA MCIPP
Chief Information Officer Mr P Sherwin
BSc (Hons) MBCS
Group Company Secretary Mrs R Brutnall
BA{Hons) ACG

The powers ofthe Council are set out in the Royal Charter, out in the Royal Charter, Rules, and Byelaws Rules, and Byelaws which are supplemented by the Standard by the Standard
Regulations
governing
the Areas,		 Regions, Branches and Branch Clubs (collectively the 'Governance Handbook' ).The
Council may exercise all powers conferred on it by the Governance Handbook and in accordance with the Charities Act
2011and other applicable legislation. The Council usually holds five face-face meetings
each year. The Council has also
adopted
a procedure for making		 decisions ex-committee. All ex-committee decisions are subject to ratification at the
next Council meeting.
Trustee Total Total Attendance Ya
Meetings Attended
Air Marshal
Sir Baz North		 100'Ya
Air Vice-Marshal
Alastair		 Reid 100%
Air Vice- Marshal John Cliffe 100'Yo
Air Vice-Marshal
Mark Neal		 BOYo
Mr Philip Tagg 100'Yo
Air Commodore
Alan Opie		 80/o
Air Commodore
Andrew		 Neal 100SS
Mr Anthony
Rees		 100'%
Mr David Chappell 100Yo
Ms Fiona Barber 100Yo
Mr Frank Barrett 100Ya
Mr George Overton 50Yo
Mr John Gilmour 100'Yo
Squadron
Leader Kyle Roachford
Ms Margaret Greer 100Yo
Marilyn
Addison		 100Yo
Mr Martin Watkins 50'Yo
Warrant
Officer Michelle		 Rees-Martin 60Ya
Ms Pauline Bearblock 40Yo

Mr Ray Blunden 100/o
Ms Samantha
Barber		 1009o
Ms Susan Kidston 100'Yo

Committee Chair Number of Number of
members meetings
Branch and Membership AVM M Neal 12 4
Finance and investment Mr P Tagg 5 4
Information AVM M Neal 7 4
Safeguarding Ms M Jones 5 4
Welfare Ms FBarber 8 4
Annual
Conference		 Mr A Rees 5 5
Audit Ms 5 Munday 4 3
Remuneration AVM J Cliffe 3 1
Nominations AVM J Cliffe 3 3

Notes Unrestricted Restricted Total Total
Funds Funds 2022 2021
E'000 E'000 E'000 E'000
INCOME:
Donations,
Legacies and Subscrlptions		 2,536 127 2,663 4,793
Donations —assets gifted from closed
branches 28 380 380 1,015
Charitable
Activities:		 3,651 2,738 6,389 4,520
Other Trading Activities:
Trading income 845 845 456
Grand Draw and other fundraising
income 1,619 1,619 1,145
Investment
Income and Interest		 662 662 577
Total Income 9,693 2,865 12,558 12,506
EXPENDITURE:
Cost of Raising Funds 1,968 1,968 1,660
Charitable
Activities:
Residential
&Respite Care Home		 1,665 1,665 2,407
Friendship
&Welfare Support		 8,258 3,191 11,449 9,665
Other Support Costs 827 827 592
Other Expenditure:
Interest
Paid on Branch Deposits		 17 17 19
Interest on Defined Benefit Pension
Liabilities (13) (13)
Total Expenditure 7 12,722 3,191 15,913 14,354
Notes Unrestricted Restricted Total Total
Funds Funds 2022 2021
f.'000 6'000 6'000 6'000
Net (Losses)/gains on investment assets 14(b) (2,173) (2,173) 2,575
Net (expenditure)/income (5,202) (326) (5,528) 727
Other recognised losses:
Net losses on revalued
assets		 (608) (608)
Actuarial
(losses)/gain
on defined		 benefit
pension scheme (47) (47) 839
Net movement
in		 funds (5,857) (326) (6,183) 1,566
Reconciliation of Funds
Total Funds Brought Forward 31,230 2,341 33,571 32,005
Transfer between funds (220) 220
Total Funds Carried Forward 25,153 2,235 27,388 33,571
Notes Unrestricted Restricted Total Total
Funds Funds 2022 2021
E'000 E'000 E'000 E'000
INCOME:
Donations,
Legacies and Subscriptions		 2,534 43 2,577 4,793
Donations —assets gifted from closed
branches 28 380 380 1,015
Charitable Activities: 594 2,73& 3,332 2,723
Other Trading Activities:
Grand
Draw and other fundraising
income 1,619 1,619 1,145
Investment
Income and Interest		 662 662 577
Total Income 5,789 2,781 8,570 10,253
EXPENDITURE
Cost of Raising Funds 957 957 1,030
Charitable
Activities:
Residential
&Respite Care Home		 1,505 1,505 2,355
Friendship
ILWelfare Support		 5,478 3,173 8,651 8,097
Other Support Costs 879 879 606
Other Expenditure:
Interest
Paid on Branch Deposits		 17 17 19
Interest on Defined Benefit Pension
Liabilities (13) (13)
Total Expenditure 8,823 3,173 11,996 12,118
Notes Unrestricted Restricted Total Total
Funds Funds 2022 2021
6'000 6'000 6'000 6'000
Net (losses)/gains on investment assets 14(b) (2,169) (2,169) 2,575
Net (expenditure)/income (5,203) (392) (5,595) 710
Other recognised losses:
Net losses on revalued
assets		 (608) (608)
Actuarial
(losses)/gain
on defined		 benefit
pension scheme (47) (47) 839
Net movement
in		 funds (5,857) (392) (6,249) 1,549
Reconciliation
of		 Funds
Total Funds Brought Forward 31,079 2,241 33,320 31,771
Transfer between funds (220) 220
Total Funds Carried Forward 25002 2~069 27p071 33g320
Notes Group Association
2022 2021 2022 2021
6'000 6'000 6'000 6'000
Fixed assets:
Intangible
assets		 12 1,026 1,302 1,015 1,302
Tangible assets:
Properties 13 4,840 5,404 4,365 4,996
Equipment
and furniture		 13 400 579 287 393
6,266 7,285 5,667 6,691
Investments:
investments 14 21,472 25,265 21,275 25,265
Programme
related		 investments
-loan to branches 125 129 125 129
Total fixed assets 27,863 32,679 27,067 32,085
Current assets:
Assets held for resale 15 300 550 300 550
Stocks 294 392
Debtors 16 421 305 1,291 1,156
Cash at bank and in hand 2,730 4,041 2,248 3,560
Total current assets 3,745 5,288 3,839 5,266
Current liabilities:
Creditors: amounts falling due within one
year 17 (3,952) (4,127) (3,835) (4,031)
Net current (liabilities)/assets (207) 1,161 4 1,235
Total assets less current liabilities 27,656 33,840 27,071 33,320
Creditors: amounts falling due after more
than one year 18 (269) (269)
Net assets including pension scheme
liability 27,387 33,571 27,071 33,320
Notes Group Association
2022 2021 2022 2021
6'000 6'000 6'000 6'000
Funds:
Restricted funds 20 2,234 2,341 2,069 2,241
Unrestricted funds:
Designated funds 21 15,734 18,932 15,734 18,932
General funds 9,419 12,298 9,268 12,147
Total funds 27,387 33,571 27,071 33,320
Notes Group Association
2022 2021 2022 2021
6'000 6'000 6'000 6'000
Cash out flows from operating activities 23 (3,288) (2,562) (3,568) (2,611)
Cash flows from investing
activities
Investment
income		 662 577 662 577
Interest payable (17) (19) (17) (19)
Receipt of Kaupthing Singer and
Friedlander
monies		 10 10
Payments to acquire intangible fixed
assets (74) (62)
Payments to acquire tangible fixed assets (141) (115) (72) (51)
Assets for resale 330 330
Payments to acquire investments (1,923) (3,015) (1,723) (3,015)
Receipts from disposals ofinvestments 3&363 4,591 3,363 4,591
Net cash provided
by investing		 activities 2,200 2,029 2,481 2,093
Cash flows from financing
activities
Decrease in loans to branches
(Decrease)/increase in deposits by
branches (227) 190 (229) 190
Net cash from financing
activities		 (223) 192 (225) 192
Change in cash and cash equivalents in
the year (1,311) (341) (1,312) (326)
Cash and cash equivalents
at the
beginning ofthe year 24 4,041 4,382 3,560 3,886
Cash and cash equivalents
at the end		 of
the year 24 2,730 4,041 2,248 3,560

ONATIONS,
LEGACIES AND		 SUBSCRIPTIONS
Unrestricted Restricted Total Total
Funds Funds 2022 2021
E'000 E'000 E'000 E'000
Group
Donations
Armed Forces Covenant Fund Trust 29 29 211
Others 578 98 676 1,453
Legacies 986 986 2,158
Subscriptions 972 972 971
2,536 127 2,663 4,793
Unrestricted Restricted Total Total
Funds Funds 2022 2021
E'000 E'000 E'000 E'000
Association
Donations
Armed Forces Covenant Fund Trust 29 29 211
Others 576 14 590 1,453
Legacies 986 986 2,158
Subscriptions 972 972 971
2,534 43 2,577 4,793

Group and Association 2022 2021
E'000 E'000
UK listed investments 511 450
Branch and other loans 1 3
Properties 150 124
662 577

Unrestricted Restricted Total Total
Funds Funds 2022 2021
E'000 E'000 E'000 E'000
Group
Accommodation fees 499 499 431
Grants and fundraising income 201 2,738 2,939 2,428
Nursery funds 2,951 2,951 1,649
UKgovernment Coronavirus job retention scheme 12
3,651 2,738 6,389 4,520
Unrestricted Restricted Total Total
Funds Funds 2022 2021
E'000 E'000 E'000 E'000
Association
Accommodation fees 305 305 245
Grants and fundraising income 289 2,738 3,027 2,476
UKgovernment Coronavirus job retention scheme 2
594 2,738 3,332 2,723

Employee
and
related
costs		 Depreciation
and
amortisation		 Other
costs		 Total
2022		 Total
2021
E'000 E'000 E'000 E'000 E'000
Costs of raising funds:
Direct costs 1,013 950 1,963 1,654
Allocated support costs 5 7
Charity's
charitable
activities
Direct costs 4,842 5,056 9,898 8,288
Allocated support costs 1,968 528 1,538 4,034 4,376
Other expenditure
Interest Paid on Branch Deposits 17 17 18
Interest on Defined Benefit Pension Liabilities (13) (13) 11
7,823 533 7,548 15,904 14,354
2022 2021
Allocated support costs: Notes E'000 E'000
Heat and light 26
Other site costs 54 46
Advertising and promotions 73 134
Printing
and		 stationery 133 106
Telephone 58 54
Insurance 143 117
Repairs and maintenance 29 57
Depreciation and amortisation 597 607
Reversal of Depreciation on Rothbury 13 (64)
Management fee 14
Other expenditure 597 703
Other equipment 31 25
Staff costs 1,972 2,272
Governance costs 402 236
4,039 4,383

ssociation
Employee
and
related
costs		 Depreciation
and
amortisation		 Other
costs		 Total
2022		 Total
2021
E'000 E'000 E'000 E'000 E'000
Costs of raising funds:
Direct costs 752 205 957 1,030
Charity's
charitable
activities
Direct costs 2,345 4,860 7,205 6,837
Allocated support costs 1,826 490 1,514 3,830 4,221
Other expenditure
Interest Paid on Branch Deposits 17 17 19
Interest on Defined Benefit Pension Liabilities (13) (13) 11
4,923 490 6,583 11,996 12,118
2022 2021
Allocated support costs: Notes E'000 E'000
Heat and light 26
Other site costs 53 35
Advertising and promotions 73 135
Printing
and		 stationery 131 105
Telephone 55 50
Insurance 134 109
Repairs and maintenance 28 56
Depreciation and amortisation 554 565
Reversal of Depreciation on Rothbury 13 (64)
Other expenditure 568 695
Other equipment 31 25
Staffcosts 1,825 2,153
Governance costs 442 267
3,830 4,221

Group and Association 2022 2021
E'000 E'000
Welfare grants to individuals 140 95
Association
property
grants to branches		 35
Armed Forces Covenant Fund Trust grants
paid to branches 158 583
333 684

TAFF COSTS
Group Association
2022 2021 2022 2021
E'000 E'000 E'000 E'000
Wages and salaries 6,842 6,242 4,263 4,673
Social security costs 647 571 459 461
Employer contributions to defined
contributions schemes 261 209 199 168
7,750 7,022 4,921 5,302
erage number ofe mployees
throughout		 the year, analysed
by locatio		 n was:
Group Association
2022 2021 2022 2021
Number Number Number Number
Welfare 54 44 54 44
Membership 17 20 17 20
Headquarters 70 60 70 60
Families Federation Service 16 10 16 10
Merchandise
Social Housing
Childcare 145 63
314 205 157 134

Group and Association 2022 2021
Number Number
E60,001to f70,000
680,001tof90,000
690,001to 6100,000
f100,001tof110,000
f120,001tof130,000
9 9

2022 2021
Rate ofincrease of pensions in payment 3.1% 3.4N
Discount rate 4.7%i 1.9N
inflation assumption (RPI) 3.1%i 3.3%
The mortality assumptions used in the valuation ofthe pension liabilities were:
2022 2021
Retiring today (currently aged 65): Years Years
Males 21.8 21.7
Females 23.9 23.9
Retiring in 20years (currently aged 45):
Males 22.7 22.7
Females 24.8 24.8

uary 201 0.The Associatio n 's
assets in the scheme at31December 2022 w		 ere:
2022 2021
f'000 E'000
Bonds 1,555 4,130
Equities 2,393 2,630
Insurance contracts 3,959 5,312
Diversified funds 2,259 2,594
LDI funds 1,809 2,930
Net current assets 170 53
Total assets 12,145 17,649
Net ofinterest and costs (53) (84)
Employers'contributions 100 75
Actuarial gain / (losses) on defined benefit pension scheme (47) 839
Balance sheet movement during year 830
2022 2021
E'000 E'000
Fair value ofscheme assets 12,145 17,649
Present value ofscheme liabilities (12,112) (17,016)
Surplus
in		 the scheme 33 633
Restriction on recognition ofscheme surplus (33) (633)
Total liability recognised

Analysis ofthe amounts charged to Statement of Financ ial Activities
2022 2021
f'000 f'000
Expenses paid by the scheme 66 73
Analysis offinancial element ofpensions cost 2022 2021
f'000 f'000
Interest on assets 329 226
Interest on pension scheme liabilities (316) (237)
Net income/(cost) 13 (11)
Analysis ofthe actuarial gain / (loss) on defined benefit pension scheme 2022 2021
6'000 f'000
Gain on asset return (5,134) 420
Experience gain on liabilities (471) 183
Changes in assumptions underlying the present value of the scheme liabilities 4,958 869
Actuarial gain/(loss)
recognised
in Statement of Financial		 Activities (647) 1,472
Cumulative
actuarial
loss		 recognised in Statement of Financial Activities (2,346) (1,699)
Changes in the present value ofdefined benegt obligations 2022 2021
E'000 E'000
Opening defined benefit obligation 17,016 18,556
Interest cost 316 237
Actuarial experience gain/(loss)
on		 liabilities 471 (183)
Actuarial gain on changes in assumptions (4,958) (869)
Benefits paid (733) (725)
Closing defined benefit obligation 12,112 17,016

Changes
in the fair value of plan assets		 2022 2021
E'000 E'000
Opening
plan assets		 17,649 17,726
Interest on assets 329 226
Gain/(loss)
on asset return		 (5,134) 420
Contributions
by employer		 100 75
Benefits paid (733) (725)
Expenses paid by the scheme (66) (73)
Closing defined benefit obligation 12,145 17,649

Computer Total
Group software
E'000 E'000
Cost or valuation:
At 1January 2022 1,820 1,820
Additions 74 74
At31December 2022 1,894 1,894
Amortisation:
At 1January 2022 518 518
Charge for year 350 350
At 31December 2022 868 868
Net book Value:
At31December 2022 1,026 1,026
At31December 2021 1,302 1,302
Computer Total
Association software
E'000 E'000
Cost orvaluation:
At 1January 2022 1,820 1,820
Additions 62 62
At31December 2022 1,882 1,882
Amortisation:
At 1January 2022 517 517
Charge for year 350 350
At31December 2022 867 867
Net book Value:
At 31December 2022 1,015 1,015
At31December 2021 1,302 1,302

TANGIBLE FIXEDASSE TS
Properties
Notes Short Equipment Total
Group Freehold Leasehold and Furniture
f'000 E'000 f'000 f'000
Cost orvaluation:
At 1January
2022		 7,248 59 2,074 9,381
Additions 40 101 141
Disposals P) (4) (351) (362)
Revaluation
ofRothbury		 (608) (608)
Transfers (12) 12
At 31December 2022 6,661 55 1,836 8,552
Depreciation:
At 1January 2022 1,875 28 1,495 3,398
Charge for year 134 1 113 248
Depreciation
on disposal		 (1) (4) (265) (270)
Revaluation
of Rothbury		 (64) (64)
Transfers (93) 93
At 31December 2022 1,851 25 1,436 3,313
Net book Value:
At 31December 2022 4,810 30 400 5,241
At 31December 2021 5,373 31 579 5,983
Properties
Short Equipment
Association Freehold Leasehold and Furniture Total
f'000 f'000 E'000 f'000
Cost or valuation:
At 1January 2022 6,521 59 1,605 8,185
Additions 34 38 72
Disposals (4) (227) (231)
Revaluation
of Rothbury		 (608) (608)
At 31December 2022 5,947 55 1,416 7,418
Depreciation:
At 1January 2022 1,556 28 1,212 2,796
Chargefor year 122 1 83 206
Depreciation
on disposals		 (4) (166) (170)
Revaluation
of Rothbury		 (64) (64)
At 31December 2022 1,614 25 1,129 2,768
Net book Value:
At31December 2022 4,335 30 287 4,652
At31December 2021 4,965 31 393 5,389
Asset value a freehold property has been adjusted to reflect cost following prior re-classification ofthe asset.

Fair Value Historical Cost
Group 2022 2021 2022 2021
f'000 E'000 E'000 E'000
a) Fixed assets
Listed investments 18,425 22,263 12,990 13,024
Investment properties 3,047 3,002 759 759
21,472 25,265 13,749 13,783
Fair Value Historical Cost
Association 2022 2021 2022 2021
E'000 E'000 f'000 f'000
a) Fixed assets
Listed investments 18,228 22,263 12,741 13,024
Investment properties 3,047 3,002 759 759
21,275 25,265 13,500 13,783
ovements on fai r value during the year - Group
Listed Investment
Investments property Total
E'000 f'000 E'000
1January 2022 22,263 3,002 25,265
Additions 1,843 80 1,923
Disposals (3,318) (45) (3,363)
Net investment gains (2,183) 10 (2,173)
Transfer to Formby Branch creditor (180) (180)
31December 2022 18,425 3,047 21,472
ovements on fair value during the year - Association
Listed Investment
Investments
f'000		 property
f'000		 Total
f'000
1January 2022 22,263 3,002 25,265
Additions 1,643 80 1,723
Disposals (3,318) (45) (3,363)
Net investment gains (2,179) 10 (2,169)
Transfer to Formby Branch creditor (181) (181)
31December 2022 18,228 3,047 21,275

Branch Deposit
Branch Deposit Formby
Fund Branch Fund Total
E'000 E'000 E'000
2022
North America 2,028 123 2,151
European 317 14 331
Asia Pacific 619 46 665
Emerging market 66 66
Global 2,965 182 3,147
5,995 365 6,360
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

Association 2022 2021
6'000 6'000
Net loss on listed investments (2,179) 2,279
Net gains on investment properties 10 286
Net gains on current asset investments 10
(2,169) 2,575

Group 2022 2021
6'000 6'000
Net loss on listed investments (2,183) 2,279
Net gains on investment properties 10 286
Net gains on current asset investments 10
(2,173) 2,575

2022 2021
Group and Association 6'000 f.'000
Freehold properties 300 550

Group Association
2022 2021 2022 2021
6'000 6'000 6'000 6'000
Trade debtors 53 79 51
Amounts
due		 from subsidiaries 918 865
Prepayments and accrued income 267 183 213 173
Other debtors 68 69 81 67
421 305 1,291 1,156

Group Association
2022 2021 2022 2021
6'000 f'000 f'000 6'000
Taxation and social security costs 248 176 219 136
Other creditors 518 288 393 223
Accruals and deferred income 561 630 550 587
Deposits by branches 1,630 1,907 1,630 1,907
Formby Branch 995 1,126 995 1,126
Amounts owed to subsidiaries 48 52
3,952 4,127 3,835 4,031
Group Association Association
2022 2021 2022 2021
f'000 f'000 f'000 F.'000
Accruals 313 374 306 343
Deferred income 248 256 244 244
561 630 550 587
ncluded
in accruals is an am		 ount offNil (2021 :633k) in respect ofunpai d
pension contributions.
Group Association
Movement
in deferred income:		 f'000 f'000
2022 opening
balance		 256 244
Release during the year (256) (244)
2022 donations,
fulfilment		 income and grants in advance 248 244
2022 closing balance 248 244

Group Association
2022 2021 2022 2021
6'000 f'000 f'000 f'000
Deferred income —capital grant 269 269
269 269

Group Association Association
2022 2021 2022 2021
E'000 E'000 E'000 E'000
Equipment:
Due within one year 20 9 16 9
Due between two and five years 13 19 13 19
Land and buildings:
Due within one year 16 51 8 16
Due between two and five years 55 24 15 15
Vehicles:
Due within one year 65 56
Due between two and five years 5
174 103 108 59

At At
Association 1ianuary 31December
2022 Income Expenditure Transfers 2022
E'000 E'000 E'000 E'000 E'000
Befriending 140 149 (140) 149
Brighten your day 17 (6) 13
Conway Legacy 86 220 306
Dowding
Restricted		 Fund 32 32
Eastern Chalet Area 127 (12) 119
Finding it Tough 88 22 (53) 57
Flowerdown
House		 113 113
Flying Scholarship 60 (50) 10
Homes Refurbishment 151 (5) 146
Lunches 15 15
Military Coworking 145 83 (79) 148
Operation
RAF Unite		 42 (1) 41
Partner
Employment		 Programme 35 35
Positive pathway
programme		 33 (9) 61
RAF Benevolent
Fund		 Grants 301 2,095 (2,236) 160
Reaching Affected Families (FAR) 59 25 (4) 80
Respite Care and Welfare 361 (269) 92
Rothbury
Restricted		 168 229 (105) 292
Scottish Development Fund 22 22
Storybook Wings & Doodle packs (4) 50 50
Veterans 129 29 (158)
Volunteer
Welfare Officers		 10 18
Wexford 58 (40) 18
Other Restricted
Funds		 55 (52) 92
2,241 2,781 (3,173) 220 2,069
Group
Digby Nursery
Fund		 100 100
Leeming 84 (18) 65
2,341 2,865 (3,191) 220 2,234
At At
Association 13anuary 31December
2021 Income Expenditure Transfers 2021
f.'000 E'000 f.'000 E'000 E'000
Eastern Area Chalet Fund 109 22 (4) 127
Homes Refurbishment 151 151
Flowerdown
House		 113 113
Rothbury
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
Memorial		 Arboretum 14 14
Preston Office 50 (50)
Forces in Mind Trust 142 (142)
Storybook Wings 4 4
RAF Benevolent
Fund Grants		 229 2,241 (2,169) 301
Libor 105 (22) (83)
Vehicle fund for Areas 56 (56)
Volunteer
Welfare		 Officers 8 8
Wexford 58 58
Befriending 57 83 140
Veterans 501 211 (583) 129
Rothbury 168 168
Military Coworking 85 (82) 142 145
Other Restricted
Funds		 388 35 (32) 391
2,443 2,833 (3,035) 2,241
Group
Digby Nursery
Fund		 108 (8) 100
2,551 2,833 (3,043) 2,341

At At
1January 31December
Group and Association 2022 Movement 2022
E'000 f'000 f'000
Fixed Assets 3,375 3,375
Membership Innovation 346 346
Investment Fund 4,310 (710) 3,600
Welfare Fund 8,000 (2,000) 6,000
Property Repairs and Maintenance 750 750
Defined Benefit Pension Scheme 1,988 (488) 1,500
Rothbury 163 163
18,932 (3,198) 15,734
At At
1January 31December
Group and Association 2021 Expenditure 2021
f'000 f'000 f'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

Group: Unrestricted Restricted Total
Funds Funds Funds
6'000 6'000 6'000
Funds balances at 31December 2022
are represented by:
Intangible
fixed assets		 1,026 1,026
Tangible fixed assets 5,240 5,240
Investments 21,472 21,472
Loans to branches 125 125
Current assets 1,511 2,234 3,745
Current
liabilities		 (3,952) (3,952)
Creditors due after more than one year (269) (269)
Total net assets 25,153 2,234 27,387
Association: Unrestdicted Restricted Total
Funds Funds Funds
6'000 6'000 6'000
Funds balances at 31December 2022
are represented by:
Intangible
fixed assets		 1,015 1,015
Tangible fixed assets 4,651 4,651
Investments 21,275 21,275
Loans to branches 125 125
Current assets 1,770 2,069 3,839
Current
liabilities		 (3,835) (3,835)
Total net assets 25,002 2,069 27,071

Group: Unrestricted Restricted Total
Funds Funds Funds
E'000 F.'000 6'000
Funds balances at 31December 2021
are represented by:
Intangible
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
liabilities		 (4,127) (4,127)
Creditors due after more than one year (269) (269)
Total net assets 31,230 2,341 33,571
Association: Unrestricted Restricted Total
Funds Funds Funds
E'000 f'000 E'000
Funds balances at31December 2021
are represented by:
Intangible
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
liabilities		 (4,031) (4,031)
Tota I net assets 31,079 2,241 33,320

Group Association
2022 2021 2022 2021
E'000 E'000 E'000 E'000
Net (expenditure)/income (5,528) 727 (5,595) 710
Adjustments
for:
Gifted properties (380) (1,015) (380) (1,015)
Contributions
to defined		 benefit scheme (100) p5) (100) (75)
Expenses borne by pension scheme 66 73 66 73
Depreciation
charges		 248 281 206 239
Amortisation
charges		 350 326 350 326
Gain on sale ofinvestment properties (10)
Loss on disposal offixed assets 92 10 60 29
Fair value (losses)/gains
on		 investments 2,172 (2,780) 2,169 (2,780)
Deficit on intangible
assets		 61 61
Investment
income		 (662) (577) (662) (577)
Return on defined benefit scheme assets (329) (226) (329) (226)
Interest paid 17 19 17 19
Interest on defined benefit pension liabilities 316 237 316 237
Decrease in assets for resale 250 545 250 545
Decrease in stock 98 43
(Increase)/decrease
in debtors		 (116) 97 (135) 96
Increase/(decrease)
in creditors		 218 (298) 199 (273)
Net cash (used in) operating activities (3,288) (2,562) (3,568) (2,611)
4. CASH AND CASH EQUIVALENTS
Group Association
2022 2021 2021 2020
E'000 F.'000 E'000 E'000
Cash and cash equivalents represent:
Cash at bank 1,794 1,503 1,312 1,022
Cash held by investment managers 936 2,538 936 2,538
2,730 4,041 2,248 3,560

The carrying amount ofthe Group's ofthe Group's and Associations financial instruments at 31December were:
Group Association
2022 2021 2022 2021
E'000 E'000 E'000 E'000
Financial assets:
Equity instruments measured at fair value through
net income/expenditure 18,625 22,263 18,428 22,263

2022 2021
E'000 E'000
Investment properties 80
Assets held for resale 300 1,015
380 1,015

Notes Unrestricted Restricted Total
Funds Funds 2021
E'000 E'000 E'000
INCOME:
Donations
and Legacies		 4,352 441 4,793
Donations —assets gifted from closed branches 28 1,015 1,015
Charitable
Activities:		 2,128 2,392 4,520
Other Trading Activities:
Trading income 456 456
Grand
Draw and other fundraising		 income 1,145 1,145
Investment
Income		 577 577
Total Income 9,673 2,833 12,506
EXPENDITURE:
Cost of Raising Funds 1,660 1,660
Charitable
Activities:
Residential
&Respite Care Home		 2,407 2,407
Friendship
&Welfare Support		 6,622 3,043 9,665
Grants
OtherSupport
Costs		 592 592
Other Expenditure:
Interest
Paid on Branch Deposits		 19 19
Interest on Defined Benefit Pension Liabilities
Total Expenditure 7 11,311 3,043 14,354

Notes Unrestricted Restricted Total
Funds Funds 2021
6'000 f'000 E'000
Net gains on investment assets 14(b) 2,575 2,575
Net (expenditure)/income 937 (210) 727
Other recognised
losses:
Actuarial
losses on defined benefit pension scheme		 11 839 839
Net movement
in funds		 1,776 (210) 1,566
Reconciliation of Funds
Total Funds Brought Forward 29,454 2,551 32,005
Total Funds Carried Forward 31,230 2,341 33,571

Notes Unrestricted Restricted Total
Funds Funds 2021
E'000 E'000 6'000
INCOME:
Donations
and Legacies		 4,352 441 4,793
Donations —assets gifted from closed branches 28 1,015 1,015
Charitable
Activities:		 331 2,392 2,723
Other Trading Activities:
Grand Draw and other fundraising income 1,145 1,145
Investment
Income		 577 577
Total Income 7,420 2,833 10,253
EXPENDITURE
Cost of Raising Funds 1,030 1,030
Charitable
Activities:
Residential
& Respite Care Home		 2,355 2,355
Welfare Support 5,062 3,035 8,097
Grants
OtherSupport
Costs		 606 606
Other Expenditure:
Interest
Paid on Branch Deposits		 19 19
Interest on Defined Benefit Pension Liabilities
Total Expenditure 9,083 3,035 12,118

Notes Unrestricted Restdicted Total
Funds Funds 2021
f'000 f'000 f'000
Net gains on investment assets 14(b) 2,575 2,575
Net (expenditure)/income 912 (202) 710
Other recognised
losses:
Actuarial
losses on defined benefit pension scheme		 11 839 839
Net movement
in funds		 1,751 (202) 1,549
Reconciliation of Funds
Total Funds Brought Forward 29,328 2,443 31,771
Total Funds Carried Forward 31,079 2,241 33&320