The British Airline Pilots Association Benevolent Fund
A registered Charity
TRUSTEES REPORT
AND
FINANCIAL STATEMENTS
5 APRIL 2025
Charity Number 229957
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
Trustees and Officers
TRUSTEES
G Fowler (Chairman ) C Evans Captain D Hogg Captain R Keegan Captain T Hill – Tout Captain M Drake M Mavin (appointed 12 December 2024)
CHARITY REGISTRATION NUMBER
229957
PRINCIPAL ADDRESS
BALPA House 1 Heathrow Boulevard 1st Floor, East Suite 278 Bath Road West Drayton UB7 0DQ
PRINCIPAL BANKERS
Unity Trust Bank Nine Brindleyplace Birmingham B1 2HB
INVESTMENT ADVISORS
Berg Davies Associates Limited 3 Highbank Meadow Westhorpe Road Finningham Suffolk IP14 4TY
INDEPENDENT EXAMINER
A M Briggs 28 Wheatash Road Addlestone Surrey KT15 2ER
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
TRUSTEES REPORT
Year ended 5 April 2025
The trustees present their report along with the financial statements of the charity for the year ended 5 April 2025. 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 trust deed and applicable law.
CONSTITUTION AND OBJECTS
The charity was established under a Trust Deed dated 15 July 1963 (as amended) to provide assistance to current and former commercial airline pilots and navigators, flight engineers and British Airline Pilots Association employees, and their families.
ORGANISATION
Under the terms of the Trust Deed, trustees are appointed by the Chairman of the British Airline Pilots Association and ratified by existing trustees. The trustees meet regularly, usually quarterly, either in person or on line, to discuss applications for assistance but are in regular contact electronically between meetings to deal with matters as they arise.
REVIEW OF THE YEAR
During the year the fund continued to make grants and loans to applicants in financial difficulties.
The trustees have continued to provide assistance where the application fell within the criteria of the Fund and include grants and loans to those who have been made redundant or face financial pressure as a result of other circumstances and to finance career development within and away from flying.
We have continued to fund flying scholarships through the Honourable Company of Air Pilots Scholarship Programme and continue to seek new opportunities to provide sponsorships for professional pilot qualifications.
During the year grants of £34,643 and interest free loans of £42,650 were made.
The Trustees are grateful to Pilots Together for the substantial donation on the winding up of that Charity.
In the light of the increased demand for assistance in recent years,, the Trustees continue to seek donations from members and former members of the aviation community through tax efficient giving such as Gift Aid and Give As You Earn and on the Kindlink giving platform. No professional fundraisers have been engaged.
The Trustees also continue to operate BBF@Virgin with the assistance of pilots within Virgin Atlantic to raise funds to support their colleagues. The time limit for the fund has now expired and the balance of the fund has been transferred to unrestricted funds. The Trustees would be pleased to consider entering into similar arrangements with other companies.
The surplus for the year was £6,175 (2024: £194,067)
There was surplus of £20,244 on the revaluation of investments assets which is added from the accumulated funds, giving a balance to be carried forward of £2,508,318, which puts the Fund in a strong position to meet any future applications going forward.
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
TRUSTEES REPORT continued
Year ended 5 April 2025
GRANT MAKING POLICY
The trustees make grants to applicants where at their absolute discretion they consider the need adequate and the available funds sufficient.
LOAN MAKING POLICY
Where appropriate, the trustees may make loans, with or without charging interest and with or without security or specific repayment terms. In seeking repayment, the trustees endeavour to take into account the continuing financial circumstances of the individual.
RESERVES POLICY
The trustees consider it essential to carry forward reserves sufficient 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 trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
During the year the following have served as trustees to the Fund:
G Fowler C Evans Captain D Hogg Captain R Keegan Captain T Hill - Tout Captain M Drake M Mavin
AUDITORS
In accordance with the Trust Deed, the Fund is no longer required to appoint auditors unless required by applicable law.
Signed on behalf of the Trustees
G Fowler - Chairman
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
TRUSTEES’ RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS
Year ended 5 April 2025
Law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Charities Act 2011, the Charity (Accounts and Reports) Regulation 2008 and applicable law. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
Year ended 5 April 2025
I report on the accounts of The British Airline Pilots Association Benevolent Fund for the year ended 5 April 2025 which are set out on pages 7 to 11.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. The charity's trustees consider that an audit is not required for this year under the charities Act 2011, s. 144(2) (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under s.145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiners report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with s.130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act,
have not been met: or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs. A. M. Briggs FMAAT 28 Wheatash Road Addlestone Surrey KT15 2ER
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
STATEMENT OF FINANCIAL ACTIVITIES Year ended 5 April 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Incoming resources | |||||
| Voluntary income: | |||||
| Investment income | 63,559 | 44,975 | |||
| Interest received | 1,577 | ||||
| - | |||||
| Donations | |||||
| BBF@Virgin | - | 605 | |||
| Pilots Together | 31,685 | 235,000 | |||
| General | 8,729 | 3,559 | |||
| Other income | - | 19 | |||
| ______ | ______ | ||||
| 105,550 | 284,158 | ||||
| Resources expended | |||||
| Charitable activities: | |||||
| Grants & loan provisions | 34,643 | 31,896 | |||
| Scholarships & bursaries | 49,966 | 41,476 | |||
| Insurance | 1,228 | - | |||
| Professional fees | 6,037 | 9,856 | |||
| Accountancy & administration | 5,250 | 4,395 | |||
| ICO fees | 35 | 35 | |||
| ______ | (97,159) | ______ | (87,658) | ||
| Governance | (2,216) | (2,433) | |||
| Gain/on investments | 20,234 | 155,607 | |||
| ______ | ______ | ||||
| Net incoming/resources for the year | 26,409 | 349,674 | |||
| Accumulated funds brought forward | 2,481,909 | 2,132,235 | |||
| __ | __ | ||||
| Accumulated funds carried forward | £ 2,508,318 | £ 2,481,909 | |||
| __ | _ | ||||
| Allocated to | |||||
| BBF@Virgin - restricted fund | - | 15,386 | |||
| Pilots Together funds | 247,419 | 235,000 | |||
| Unrestricted funds | 2,260,899 | 2,231,523 | |||
| __ | __ | ||||
| £ 2,508,318 | £ 2,481,909 | ||||
| __ | _ |
No separate Statement of Total Recognised Gains and Losses has been presented as all such gains and losses e been dealt with in the statement of financial activities.
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
BALANCE SHEET
5 April 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Investments | 1 | 2,297,915 | 2,117,934 | |||
| CURRENT ASSETS | ||||||
| Debtors | 2 | 115,819 | 121,607 | |||
| Cash at bank | 100,236 | 246,965 | ||||
| _ | _ | |||||
| 216,055 | 368,572 | |||||
| CURRENT LIABILITIES | ||||||
| Accruals | (5,652) | (4,597) | ||||
| ______ | ______ | |||||
| NET CURRENT ASSETS | 210,403 | 363,975 | ||||
| __ | __ | |||||
| NET ASSETS | £ | 2,508,318 | £ 2,481,909 | |||
| __ | __ | |||||
| Represented by: | ||||||
| Accumulated Funds | ||||||
| BBF@Virgin – restricted fund | - | 15,386 | ||||
| Pilots Together funds | 247,419 | 235,000 | ||||
| Unrestricted funds | 2,260,899 | 2,231,523 | ||||
| __ | __ | |||||
| £ | 2,508,318 | £ 2,481,909 | ||||
| __ | __ |
Approved by the Trustees on 9 December 2025. and signed on their behalf by
G Fowler
Trustees
Captain T Hill – Tout .
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
ACCOUNTING POLICIES
Year ended 5 April 2025
1 BASIS OF ACCOUNTING
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatements were required.
The accounts have been prepared on a going concern basis. The charity has sufficient cash and net assets to continue and the trustees believe there to be no material uncertainties about the Charity’s ability to continue as a going concern.
2 INVESTMENTS
Investments are included at fair value which is the closing market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
3 LOANS TO BENEFICIARIES
In certain circumstances, interest free loans are made to beneficiaries. Loans are provided for in full in the year, that they are made unless the trustees are certain that the loan will be repaid.
4 ACCUMULATED FUNDS
There are no specific restrictions on the charity’s funds apart from the furtherance of the charity’s aims, other than that
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the interest on £ 20,000 per annum be used to fund the cost of education of children of deceased pilots attending fee paying schools, if possible. This request was part of the Wigley legacy. In the opinion of the trustees, the wording of the request is such that these funds do not need to be placed into a separate restricted fund. If an applicant meets the criteria of the request, the funds will be expended from the unrestricted funds.
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donations of £15,386 has been received from the BBF@Virgin initiative. These funds are earmarked to provide assistance to employees and former employees of Virgin Atlantic. No amounts had been expended by 5 April 2025
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the donation of £31,685 from Pilots Together will fund all applications to BBF that can be assessed against the objects of Pilots Together and where an applicant would, or would likely, have qualified under the Pilots Together assessment criteria, funding towards that application will come from the Pilots Together fund. The amount expended during the year ended 5 April 2025 was £19,266.
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
ACCOUNTING POLICIES continued
Year ended 5 April 2025
5 INVESTMENT INCOME, DONATIONS, LEGACIES AND SIMILAR INCOME
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Investment income is included when receivable.
6 RESOURCES EXPENDED
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably
Expenditure on charitable activities includes irrecoverable VAT and the costs of the delivery of its activities and services for its beneficiaries.
All support costs are allocated to the one charitable activity of the charity
7 TAXATION
Under the provisions of the Income and Corporation Taxes Act 1988, the Fund is not subject to taxation, on the grounds that it is a registered charity.
8 CASH AT BANK AND IN HAND
Cash at bank and cash in hand includes cash and short term 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.
9 DEBTORS
Debtors are recognised at the settlement amount due after provision for bad and doubtful debts.
10 CREDITORS AND PROVISIONS
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
11 FINANCIAL INSTRUMENTS
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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THE BRITISH AIRLINE PILOTS ASSOCIATION BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
Year ended 5 April 2025
INVESTMENTS Market value at 6 April 2024 Additions Realised gain on disposal Unrealised market gain// Market value at 5 April 2025 £ Historical cost as at 5 April 2025 £ All investments are listed UK securities. 2 DEBTORS Loans to beneficiaries Prepayments Taxation recoverable |
2025 £ 2,117,934 150,000 9,747 20,234 _ 2,297,915 £ _ 1,378,430 £ __ 109,548 409 5,862 __ £ 115,819 ____ |
2024 £ 1,862,327 100,000 - 155,607 _ 2,117,934 _ 1,228,430 _ 115,758 - 5,849 __ £ 121,607 ____ |
|---|---|---|
3. TRUSTEES AND EMPLOYEES REMUNERATION
No remuneration was paid to any trustee during the year. Expenses were paid to the trustees of £1,541 during the year (2024 : £1,030). There were no employees during the year.
4. TAXATION
No liability arises, as the Fund is exempt from taxation under the Income and Corporation Taxes Act 1988, on the grounds that it is a registered charity.
5. LEGAL STATUS OF THE CHARITY
The charity was established in 1963 by trust deed dated 15 July 1963. Amendments to the deed were made in 1965, 1975, 1993 and 2017.
6. FEES FOR EXAMINATION OF ACCOUNTS
Independent examiner's fee £ 675 £ 650
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