The British Airline Pilots Association
Benevolent Fund
A registered Charity
TRUSTEES REPORT
AND
FINANCIAL STATEMENTS
5 APIUL 2024
Charlty f4umber 229957

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
Trnste¢s and Officers
TRUSTEES
Fowler
C Evans
Captain D Hogg
Captsin R Ke¢gan
Captain T Hill- Tout
Captsin M Drak¢ '
(ChaÉrn)an )
CHARITY REGISTRATION NUMBER
229957
PR￿cIPAL ADDRESS
BALPA House
l Heathrow Boulevard
1st Floor, East Suite
278 Bath Road
West Drayton
UB7 ODQ
PRINCIPAL BANKERS
Unity Trust Bank
Nine Brindl¢)place
Birniillgham
BI 2HB
INVESTMENT ADVISORS
Berg Davies Associates Limited
3 Highbank Meadow
Wesihorpe Road
Finningham
Suffolk
IP14 4TY
INDEPENDENT EXAMtNER
A M Briggs
28 Wheata5h Road
Addlestone
Surrey
KT15 2ER

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
TRUSTEES REPORT
Year ended 5 April 2024
The tTU5tees present their reptsrt along with th¢ financial statements of the ¢hariiv for the year ended 5 April
2024. The financial statements have been prepared in accordance with the accounting policies Set out on pages
9 and 10 and comply with the charity's tw51 deed and applicable law.
CONSTITUTION AND OBJECTS
The charity was established under a Ttvst Deed dattd 15 July 1963 {as amend¢d) io provid¢ assistance to
current and fom)er commercial airline pilots and navigators. flight engineers ttrtd British Airline Pilot5
Association employees, and their famili¢s.
ORGANISATION
Under the tern)s of the Tnjst Deed. tnjstees are apw)inted by the Chairnian of the British Airline Pilots
A5S(Kiation and rdiif2ed by existin8 mistees. The trustees meet regularly, usually quarterly, cither in person or
on line. to discuss applications for assistance bui are in regular coniaci electronically benveen me¢tings to deal
with matters as they arise.
REVIEW OF THE YEAR
During the year the fund continued to make grants and l¢)an5 to applicants in financial difficulties.
The aviation industy has r¢covered from the effects of the Coronavirus pandemic but the number of
applications received and the number of wnts and loans advanced has increased.
The tTU5tee5 have continued to provide ￿sistance where the application fell wiihin the ¢riteria of the Fund and
include wts and loans to those who have been made redundant or fa¢¢ financial pregsure as a result of other
circumsiances and to fiEwice career development away from flying.
We have continued to fimd flying scholarships through the Honourabl¢ Cornpany of Air .Pilots Scholarship
Pro￿nrne.
During the year ￿antS of £31,896 and interest free loans of £52.368 were made.
The Trnstees are grateful to Pilots Together for th¢ substantial donatson on the winding up of the Charity.
In the light of the increased demand for assi5tsn¢e in recent yeaTS,, the Trustees continu¢ to seek donations from
m¢mb¢rs and fomier members of the aviation community through ¢ffi¢i¢nt giving such as Gift Aid and Give
A5 You Earn and on the Kindlink giving plaiforni. No professional fundraisers have been engaged.
The Trustees also continue to operate BBF@Virgin with ihe assistance of pilots wiihin Virgin Atlantic to raise
funds io support iheir colleagues. The Trustees would be pleased to consider entering into similar arrangemenis
with other companies.
The surplus for the year was £194,067 (2023.. deficit of £17,297)
There was surplu5 (Trf £155.607 on the revaluation of investments assets which i5 added from the accumulaied
funds, giving a balance io be carried fotvard of £2,481.909. whi¢h put5 the Fund in a strong posiiion to meet
any future application5 going forward.

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
TRUSTEES REPORT continued
Year ended 5 April 2024
GRANT MAKING POLICY
The trustees make grants to applicants where at their absolute discretion they consider the need adeqU￿e and th¢
available funds sufficient.
LOAN MAKING POLICY
l¥There appropriat¢, the trnstees rnay make loans, with or without charging interest and with or with(Trut $￿urity
or specific repttyrnent ternis. In seeking repa)Tneni, the twstees endeavour to take into account the contirtuing
financial circumstsnces of the individual.
RESERVES POLICY
The trustee5 consider it essential to carry forward reserves sutTicient to meet the urgent needs of qualifying
individuals and to Cover as best they may, unforeseen circumstances which may cause urgent demands on the
fund.
RISK MANAGEMENT
The bvstees have examined the major strategic, business and opetstional risks which the charity faces and
¢onf]rn) that Sysiems have been established to enable regular reports to be produced so thai the necessary S￿p$
can be taken to lessen these risks.
During the year the following hav¢ 5¢rv¢d a5 twstees to the Fund:
G Fowler
C Evans
Captain D Hogg
Captain R Keegan
Captain T Hill- Toui
Captain M Drake
AUDITORS
In &cordanc¢ with th¢ Trust De¢(L the Fund 15 no longer required to appoint auditors unless required by
applicable law.
Signed on behalf of the TrLLStees
T Hill-Tout
20a

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
TRUSTEES. RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS
year ended 5 April 2024
Law applicable to Charities in England and Wales requires the Trustees to prepare financial slatements for each
financial year which give a iNe and fair view of the chariry's fjnancial activities during the year and of its
finan¢ial position ai the end of the year. In preparing those financial stat¢m¢nts, Trustees are required to..
select suitable accounting policies and then apply them ¢on5lSt¢ntly'
observe the meth¢xls and principles of the Charities SORP..
make judgements and estimate5 that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended prnctice hav¢ been
followed subject to any departiires disclosed and explained in the financial ststements,. and
prepare the fjnancial S￿ementS on the goin8 concern basis unless it LS inappropriaie to presume that
the clwity will continue in business.
The Tru5t¢e5 ar¢ responsibl¢ for keeping proper accounting records which disclose with r¢asonable accuracy at
any time the fir￿1¢181 position of the chariry and io enable them to ensure that the financial Sfatements comply
with Charitie5 Act 2011, the Chariry (Accounts and Repons) Regulation 2008 aftd applicable law. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for th¢ prevention
and detection of fraud and other irregularities.

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE BIUTISH AIRLINE PILOTS
ASSOCIATION BENEVOLENT FUND
Year ended 5 April 2024
I rewjrt on the accounts of The British Airline Pilots Association Benevolent Fund for the year ended S April
2024 which are set out on pages 7 to I l.
Respectlve responslbilltles of trustees and examlner
The chariry's trustees are responsible for the preparation of the a¢count5 in accordance with the requirements of
the Charities Aci 2011. The charity's iNstees consider that an audit is not required for this year under the
charities Act 2011. s. 144(2) {the 2011 Aci) and that an independent exaJnination is nttded.
It is my responsibility to:
examine the ￿Counts under s.145 of the 2011 Aet;
2. follow the pro¢edures laid down in the general Directions given by the Charity Commission under
s.145{5)(b) of the 2011 Aci., and
State whether particular Enatters have WTn¢ to my attention.
Basts of Independent ex4mineYs report
My exatnination was carried out in accordance with the general Directions given by the Charity Commission.
Art exatnitydtion includes a review of ihe accounting records kept by the charity and a comparison of the
accounts presented with those records. It also includes considerdtion of any unusual items or diselosures in the
actounts, and seeking explanations from you as trustees ¢on¢¢rning such matters. Th¢ procedures undertaken do
not provide all the evidence that would be r¢quired in an audit and consequently no opinion is given as to
wheiher the accounts present a true and fair view, and the report 1$ limited to those matters set out in the
5tatem¢nt below.
Independent ex¥4miner's statement
In Connection with my ¢xaminalion. no matter has come to my attention..
which gives me re&sonable cause to believe thai in any material respect the requirements..
to keep accouniing records in accordance with s.130 of the 2011 Act,. and
to prepare accounts which a¢¢ord with the accounting r¢¢ords and ¢omply with the
accounting requirements of the 2011 Act,
have noi been met.. or
to which. in my opinion, attention should be drawn in order to enable a proper understanding of the
accowjts to be reached.
Mrs. A. M. Briw FMAAT
28 Wheatash Road
Addl¢ston¢
Surrey
KT15 2ER

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
STATEMENT OF FINANCIAL ACTIVITIES
Year ended 5 April 2024
?024
23.
Notes
Incoming resource5
Voluntory income..
Investment income
Interest r¢¢¢iv¢d
44.975
40.928
187
Donations
BBF@Virgin
Pilots Together
General
605
235,000
3.559
1,020
5.411
Other income
19
284.158
47,557
Resources exp¢nd¢d
Charitable activities-
Grants
Srholar5hip5 & bursaries
Professional fees
Aecountancy & administration
ICO fees
31,896
41,476
9.856
4,395
35
13,018
42,074
3.871
4,363
35
(87,658)
(63,363)
Governance
(2.433}
{1,491)
Gainl(Deficit)/on investments
155,607
(92,575)
Nei Incomin￿lincOM1D￿reS0UrCeS for the year
349.674
(109,872)
A¢eumulaied funds broughi forward
2,132,235
2,242,107
A¢¢urnulated fimds CaTried fonvard
£ 2,481,909
£ 2,132235
Allocated io
BBF@Virgin - resth¢ted filnd
Pilots Together fimds
Unrestricted funds
15,386
235,(X)O
2,231,523
14.781
2.117,454
£ 2,481.909
£ 2.132235
No separnte Ststement of Total Recognised Gains and Losses has been presented as all such gains and losses e
been dealt with in the siaternent of financial ￿tiVitIes.

THE BRrrisH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
BALAf4CE SHEET
5 April 2024
2024
2023
Not¢s
FIXED ASSETS
Investments
2.117,934
1.862,327
CURRENT ASSETS
Debtors
Cash 4¢ bank
121,607
246,965
78.238
198,190
368.572
276.428
CURRENT LIABILITIES
Acctuals
(4,597)
(6.520)
NET CURRENT ASSETS
363,973
269,908
NET ASSETS
£ 2,481.909
£ 2,132,235
Represented by-
Accumulated Funds
BBF@Virgin- restricted fund
Pilots Together funds
Unrestricted ￿ndS
15.386
235,(M)O
2,231.523
14,781
2,117,454
£ 2,481,909
£ 2,132,235
Approved by the Trustees on
12 PGc.&Tr?OGR 2021L and signed on theiT behalf by
.T Hill-Tout
Trustees
¢egan

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
ACCOUNTING POLICIES
Year ended S April 2024
BASIS OF ACCOUNTING
The flnancial statements have been prepared in accordance with Ae¢ountin8 and Reporting by
Chariiies.. Siatement of Re¢otnmended Practice applicable to ¢hariiies preparing their ac¢ounfs in
ac¢ordance with the Financial Reporting Standard applicable in the UK and Republie of Ireland (FRS
102) - (Charities SORP (FRS 1021). the Financial Reporting Stsndard applicable in the UK and
Republic of Ireland {FRS 102) and with the Charities Act 2011.
The Charity meets the definition of a public benefjt ¢Dtity under FRS 102. Assets and liabillties are
iniiially recognised at hi5tori¢al cost or transa¢tion value unless otherwise stated in the relevant
accounting policy.
In preparing the account5, the trustees have eonsidered whether in applying the a¢eounting policies
required by FRS 102 and the Charilies SORP FRS 102 the restatement of comparative items was
r¢quir¢d. No restatements were required.
The accounts have been prepared on a going concem basis. Th¢ charity has sutTici¢nt cash and net
assets io continu¢ and the trustees believe there to be no maierial uncertainties aboui th¢ Charity's
ability to continue as a going concern.
INVESTMENTS
Investsnents are in¢luded at fair value whieh is the closing market value at the balance sheet date. Any
gain or loss on revaluation is taken to th¢ Statement of Financial Activities.
LOANS TO BENEFICIARIES
In certain circumsw)¢es, interest free loans are mad¢ to beneficiaries. LA)ans are Provided for in full in
the year, that they att made unless the trnstees are certain that the loan will be repaid.
ACCUMULATED FUNDS
There ar¢ no specific restri¢tions on the charity's funds apart from the fiytherance of the charity's aims,
other than that
the interest on £ 20,000 per annum be used to fund the cosi of education of children of de¢¢&sed pilots
attending fee paying schools, if possible. This request was pan of the Wigley legacy. In the opinion of
the trustees. the wording of the requ¢si is such that these funits do not need to be placed into a separate
restri¢t¢d fijnd. If an applicant meets Èhe criteria of the request, the fimds will be expended from the
unrestricted funds.
donations of £15.386 has been received from the BBF@Virgin initiative. These funds are eamiarked to
provide assisthnce to employees and fomier ¢mployees of Virgin Atlaniic. No amounts had been
expended by 5 April 2024
the donation of £235.000 from Pilot5 Together will fund all applications to BBF that can be assessed
against the objects of Pilots Together and where an applicani would. or would likely, have qualified
under the Pilots Togeiher &ssessment ¢rhieri4 funding towards that applieation will come from the
Pilots Together fund

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
ACCOUNTING POLICIES Contin￿ed
Yesr end￿ 5 April 2024
INVESTMENT INCOME, DONATIONS, LEGACIES AND SIMILAR INCOME
All incoming re50ur¢es are included in the statement of fmancial activilies when the Charity is entitled
to the income and the amount can be quantified with reasonable a¢¢uracy. Th¢ following specific
policies are applied to particular categories of ineome..
Voluntary resources are included in the statement of fjneneial activtties when th¢ Cknty 15 ¢nttiled io
the income and the amount can be quantified with reasonable accuracy.
Investment income is included when reeeivable.
RESOURCES EXPENDED
Expenditur¢ 15 r¢¢0gnised once there 15 a legal or ¢onstru¢tive obligation io make a paymeni to a ihird
it is probable that 5¢tt1¢men¢ will be required and the arnount of the obligation can be measured
reliably
Expenditure on charitsble a¢tivitie5 includes irrecoverable VAT and the costs of the delivery of Èts
activities and services for its beneficiaries.
All support costs are allocated to the one charitable activity of the ¢harity
TAXATION
Under the provi5son5 of the IncoTlle at]d Corpordtion Taxes Act 1988, the Fund is not subject to
taxation, on the grounds that li is a registered charity.
CASH AT BANK AND IN HAND
C&8h at bank and cash in hand includes cash and short tem) highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
DEBTORS
Debtors are recogTtised at the settlement amount due after provision for bad and doubtfijl debts.
io
CREDITORS AND PROVISIONS
Creditors and provisions are recognised where the charity h&8 a present obligation resulting from a past
evenl that will probably result in the transfer of funds to a third party and the atnount due to s¢ttl¢ th¢
obligation can be measured or estimated reliably. Creditors and provisions are nornially r¢¢ognis¢d ai
their Settlement arnount after allowng for any trade discounts du¢.
FINANCIAL INSTRUMENTS
Th¢ Charity only has fjnancial assets and financial liabiliiies of a kind that qualify as basic fmancial
instrum¢nt5. Basic f￿ancial instruments are initially recognised at transaction valu¢ and Subsequently
measur¢d at their settlement value.
io

THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
Year ended S Aprll 2024
2024
2023
I]¥VESTMENTS
Market value at 6 April 2023
Additions
Unrealised market gainl(deficiiy
1,862,327
100,000
155,607
1,954,902
(92,575)
Marf(et value * 5 April 2024
£2.117.934
£ 1,862,327
Historical cost as at 5 April 2024
£ 1.228,430
£ 1,128.430
All invesm)ents are listed UK 5¢curities.
2 DEBTORS
Loans to beneficiaries
Taxation recoverable
115.758
5,849
72,934
5,304
£ 121.007
£ 78238
3. TRUSTEES AND EMPLOYEES REMUNERA TION
No remunerdtion was paid to any ttustee during th¢ year. Expenses were paid to th¢ trust¢¢s of £1,030
during the year (2023 .. £891). There were no employ¢¢s during the year.
4. TAXATION
No liability arises, as the Fund is exetnpt from laxation under the In¢ome and Corporation Taxes A¢t
1988. on the grounds that it is a registered charity.
5. LEGAL STATUS OF THE CHARITY
The ctwity was established in 1963 by trnst deed dated 15 July 1963. Amenthnents to the dttd were
made in 1965, 1975. 1993 and 2017.
FEES FOR EXAMINATION OF ACCOUNTS
Independent exarninerfs fee
£650
£600
li