## **Trustees' Annual Report for the period** 

Period start date **Day Month Year 01 01 2024** 

**To** 

Period end date 

**Day Month Year 31 12 2024** 

## Section A                        Reference and administration details 

**Branch name** 

RAFA Cheltenham Branch 

(referred to hereinafter as either the “Branch” or the “Charity”) 

**Other names / number Branch is known by** 

**Registered charity number (if any)** 231667 

**Branch's principal address** 1 Royal Crescent Cheltenham **Postcode** GL50 3DA 

## **Names of the Branch charity trustees who manage the charity (generally known as the Branch Committee)** 

||||||
|---|---|---|---|---|
|1<br>2<br>3<br>4|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**<br>**year**|**Name of person (or body)**<br>**entitled to appoint trustee (if**<br>**any)**|
||Mike Bryant|Chair|||
||Angela Hawley|Vice-Chair|||
||Stephen Poulton|Treasurer|||
||Richard Osler|Secretary, Leader<br>Aviation History Group|||







||||||
|---|---|---|---|---|
|5<br>6<br>7<br>8 <br>9<br>10|Sir Dusty Miller|Branch President|||
||Keith Baalham|Conference Delegate|||
||Gordon Goodman|Wef October 2024,<br>Building Custodian|||
||Moyne Blake|Welfare Officer|||
||Nick Price|Commemoration<br>Project Lead|Project completed August<br>2024||
||Emlyn Phennah|Wings Appeal<br>Organiser, Assistant<br>Welfare Officer|Relinquished Assistant<br>Welfare Officer and Wings<br>Appeal Organiser posts wef<br>August 2024. Remained  a<br>Committee member||



## **Names of any other trustees for the Branch (for example, any custodian trustees in relation to branch property)** 

**Name Dates acted if not for whole year** 

## **Names and addresses of advisers (Optional information)** 

||||
|---|---|---|
|**Type of adviser**|**Name**|**Address**|
|RAFALO|Sgt Aaron Vicars|Via MoD|
|Property manager|David Turner|Young and Gilling<br>First Floor Suite, 1 Royal Crescent, Cheltenham,<br>GL50 3DA|
|RAFA Branch Relationship<br>and Engagement Officer|Richard Bennett<br>Until November 2024|RAFA HQ, Leicester|
|||RAFA HQ, Leicester|
|RAFA Branch Relationship<br>and Engagement Officer|Kevin O’Neil<br>From November 2024||







## **Section B              Structure, governance and management** 

## **Description of the branch’s trusts** 

Royal Charter, Rules, Byelaws, Area and Branch Regulations of the Type of governing document Royal Air Forces Association. (e.g. trust deed, constitution) Unincorporated Association. How the Branch charity is constituted 

(e.g. trust, association, company) 

Elected by the Branch membership. Trustee selection methods (e.g. appointed by, elected by) 

## **Additional governance issues (Optional information)** 

You **may choose** to include additional information, where relevant, about: 

• policies and procedures adopted for the induction and training of trustees; 

• the branch’s organisational structure and any wider network with which the charity works; 

• relationship with any related parties (including branch club); 

• trustees’ consideration of major risks and the system and procedures to manage them. 

## **Charity’s organisational structure** 

The charity is a branch of the Royal Air Forces Association which is a Royal Charter body and registered as a charity in England and Wales under number 226686 and in Scotland under SC037673 (“the Association”). The Association has many branches all of which share the same charitable object as the Association and are subject to the same constitution. 

## **Related party relationships** 

The Branch premises are used under a licence from the Branch by the Cheltenham Guardians from Saturday evenings until early Sunday mornings. The Guardians provide security and safeguarding services to vulnerable young people in the Cheltenham evening and night time economy. The Branch’s partnership with the Guardians is in furtherance of an approach to extend its reach further into the community, build networks, develop its influence, work closely with other charities, engage with partner organisations, raise its profile and earn community goodwill. In this, it has been very successful. 

The Branch premises are also used under licence by various sections of the Cheltenham U3A, the Cheltenham Branch of the RBL and occasionally by the JSSU (Cheltenham), Aden Veterans and RAFAC units. 





The Branch Welfare Officer is also the Welfare Officer of the Cheltenham Branch of the Royal British Legion and helps coordinate welfare activities between the 2 charities. 

Good working relationships have been established with Armed Forces Champions at Gloucestershire County Council and Cheltenham Borough Council. The Branch also has an active relationship with the Cheltenham Branch of the Aden Veterans’ Association. There is regular engagement with the Gloucestershire Armed Forces Covenant Trust. 

The Branch maintains excellent working relationships with the three RAF Air Cadet units in the Cheltenham area. The Branch President is the President for one of the units; the Branch Vice-Chair is a Civilian Instructor for the same unit. Cadets provide invaluable support to the Branch during Wings Appeal Week and at parades such as that at the Battle of Britain commemoration. 

## **Risk management** 

The Branch has a Strategic Plan; this was updated in June 2023 and is due for review. The Branch also has a Personal Information Protection Policy and various other policies or protocols to underpin good governance. 

## **Section C                    Objectives and activities** 

**Summary of the objects of the branch set out in its governing document** 

To promote, through the comradeship engendered by its members, the welfare by charitable means of all serving and former members of His Majesty’s Air Forces, their spouses and dependents, together with the widows and widowers and dependents of those who died whilst serving or subsequently. 





|||
|---|---|
|**Summary of the main activities**<br>**undertaken for the public**<br>**benefit in relation to these**<br>**objects (include within this**<br>**section the statutory**<br>**declaration that trustees have**<br>**had regard to the guidance**<br>**issued by the Charity**<br>**Commission won public**<br>**benefit)**|A great deal of investigation, research and planning was undertaken to<br>organise a major ceremony in 2024 to honour the mixed Canadian and<br>British crew of a Halifax bomber that crashed near Cheltenham during<br>World War 2 killing all the crew. This was a high-profile ceremony to<br>mark the 80thanniversary of the crash. A Dedication and the reception<br>that followed was attended by civic dignitaries, senior military officers,<br>and representation from the Canadian High Commission. Also in<br>attendance were many members of the public, service personnel from<br>active RAF units and around 50 relatives of the crew. The relatives had<br>travelled from the USA, Canada and various locations in the UK. The<br>event was given extensive cover by local and national media.<br>Branch members participated in local ceremonies and functions to<br>mark Armed Forces Day, the Battle of Britain commemoration and<br>Remembrance Sunday.<br>Members of the Committee continued to support local military and<br>RAF-associated functions throughout the year. These included the<br>funerals of a number of RAF veterans and celebrating significant<br>events in the lives of veterans (eg 100thBirthdays).<br>Thursday Wings coffee mornings continued throughout the year and<br>this weekly event continues to provide an important meeting venue for<br>a small group of ageing veterans.<br>The Branch Aviation History Group meets on alternate Thursdays in<br>the Branch lounge.<br>The Branch also donated £1000 to the Association’s Wings Appeal.<br>The Branch Welfare Officer provided support for members and<br>beneficiaries in the local area needing advice on benefit entitlements,<br>disabled badges and claiming medals.<br>A series of “Sandwich Lunches” were held throughout the year and<br>which, together with the Wings Café and Aviation History Group<br>meetings were aimed at least partially at combatting loneliness and<br>social isolation amongst Branch members and beneficiaries. The<br>Branch has just started a monthly series of Curry Lunches to augment<br>the Sandwich Lunches.During the winter months, the lounge was and<br>will continue to be kept open to provide a “warm space”.|



**Additional details of objectives and activities (Optional information)** 





You **may choose** to include further statements, where relevant, about: 

The Branch Committee has continued to provide support to local RAF Air Cadet Squadrons, particularly in providing facilities for squadron events. 

• policy on grant making; • policy programme related investment; • contribution made by volunteers. 

Section D                      Achievements and erformance p 





The main activity undertaken by the Branch this year has been to **Summary of the main** continue to build on the progress made in 2022 and 2024 to recover **achievements of the branch** from the Covid-19 pandemic and its consequences. To this end, the **during the year** Committee solidified its view that it was well-placed to provide friendship and comradeship to Branch members and beneficiaries, and to alleviate their loneliness and social isolation. Many of the items set out in the “Summary of the main activities” section above were in explicit support to this focus. Further maintenance and refurbishment on the premises was carried out throughout the year. In particular, a major upgrade to the electrical supply and distribution system for the Branch’s property was completed during the year and cost around £25K – prudent budgeting allowed the Branch to approve this expenditure without compromising its core mission. The kitchen was completely refurbished in the year and soon enabled the enrichment of activities and events. During the year, efforts were made to ensure the safety and well-being of members by providing guidance on topics of particular relevance. These included  Branch  e-Newsletter articles on Crime Prevention, Carers’ Rights Day and the Admiral Nurse Service of the Royal British Legion. The Branch Committee compiled an important Resolution for submission to the Association Area and National Conferences. It was well-received by the Association membership and was rewarded by unanimous votes of approval. The Committee also provided voting guidance for other Resolutions to the Branch Conference Delegate. He attended both Conferences and reported back to the Committee. The Branch Committee has continued to engage with its members by a variety of measures including frequent e-Newsletters, posts on the Branch web site, Facebook, the Thursday morning Wings Café and phone calls. Of note is that both the Branch and the Aviation History Group have separate Facebook pages to cater for the interests of different audiences. These have proved to be in frequent use and wellpopulated by posts and comments. 

The broadband wifi service set up in 2022 was found to have limitations so extra equipment was acquired to improve coverage. An increasing number of outside organisations and groups are using the premises for functions such as family events, Annual General Meetings and society meetings. In addition to raising the profile of the Branch and Association, this raises revenues. 

**Section E                    Financial review** 





## **Brief statement of the branch’s policy on reserves** 

- The Branch agrees that, in 2025 it will hold no more than £15000 in reserve at any given time; this is based on the average 6-monthly nondiscretionary expenditure over the last year plus a small addition. This is to cover: • Unexpected non-discretionary demands. • A shortfall in income (for example, from tenancy issues). • Liabilities should the Branch close. 

In addition, a dynamic reserve of £39000 for the start of 2025 has been set for predicted expenditure for Branch running costs and against specific projects such as the construction of a disabled toilet and bringing leased parts of the premises up to mandatory health, safety and environmental standards. 

## **Details of any funds materially in deficit** 

No funds are in deficit 

## **Further financial review details (Optional information)** 

The Branch premises contain commercial and residential units that are You **may choose** to include leased out and when fully occupied generate a gross income of about additional information, where £ _**42600**_ per annum. Our adjacent Car Park generates an additional relevant about: £ _**7900**_ . The total is £ _**50500**_ . Other, comparatively minor, income was from • the branch’s principal donations functions and Association rebates. The gross income for 2024 sources of funds (including any was £ **54427** and gross expenditure was £ **89702** . fundraising); 

• how expenditure has The net income after management fees, essential maintenance, cleaning, supported the key objectives of insurance, utilities and Council Tax are deducted fell to about £ _**6900**_ per the branch; annum. 

• investment policy and On 31 December 24 the Branch Account held £ _**69691**_ and the Welfare objectives including any ethical Fund held £ _**819.**_ investment policy adopted. 

The cost of the discretionary maintenance, refurbishment work, reducing internal noise levels and improving leased parts of the building for 2024 has been £ _**32800**_ . 

Expenditure on the Branch area of the building will be directed towards essential maintenance and, subject to an adequate funding profile, the improvement of disabled facilities. The Branch Committee has approved expenditure only after careful cost-benefit analysis in the interests of the health, safety, convenience and enjoyment of all Branch members. Care has also been taken to preserve the value and utility of the property. 

## **Section F                     Other optional information** 

§ 





## **Section G                    Declaration** 

**The trustees declare that they have approved the trustees’ report above.** 

**Signed on behalf of the branch’s trustees** 

**Signature(s) Full name(s)** Michael K Bryant **Position (eg Secretary,** Branch Chairman **Chair, etc)** 

**Date** 13 February 2025 





Royal Air Forces Association Cheltenham Branch 1 Royal Crescent Cheltenham GL50 3DA 01242 524384 https://branch.rafa.org.uk/cheltenham/ rafacheltenham@gmail.com 

13 February 2025 

To Members of the Cheltenham Branch, 

## **Treasurer’s Report to AGM 2025** 

## **ACCOUNTS OF THE CHELTENHAM BRANCH R.A.F. ASSOCIATION FOR THE YEAR ENDING 31 DECEMBER 2024** 

Mr Poulton has provided the following report. 

Our General Account balance on 31 December 2024 stood at £69,691. We started the year with £102,793, therefore an overall decrease in the current account of £33,102 from 2023; this was predominantly owing to property improvements and completing payment for the 2023 major electrics upgrade. 

Our main income is from rents; we have two residential flats, two commercial units, representing £49,696 of which £10,296 comes from several Car Park space  contracts.  We use Young and Gilling, Property & Estate Agents as our agents and they arrange all lettings, investigations and repairs to the property. All 2024 rents are up to date, though we had no income from Flat 1 since Sep 24. Before re-letting we conducted improvements to decoration, windows and roof insulation. This expense improves the letting potential of both flats to recognise compliance with Energy Performance Certification for letting. More information will be provided by Gordon Goodman, who assumed our Landlord control within the Committee. 

Final expense to the electricity upgrade from 2023 cost £10,400, flooring of the building communal areas £5000, refurbishment of Flats 1&2 £3400. In our accommodation, we have refurbished the kitchen, £20,100 and also provided a curtain “noise barrier” for our theatre area, £3000. We also have regular expenditure for Management costs to the Agent £8,500, Utilities (Telephone, Electric, Water Council Tax £8000), Building Insurance £4100, Auditor fees £1080. Our expenditure for routine maintenance, general repairs and refurbishment totalled £51,000. 

The improvements to the kitchen have enabled us to rent to other agencies, notably Military such as Aden Vets and RBL; however, our main and regular user has been the U3A. These lettings generated £656. 

This report is weighted towards the maintenance of the building, which does provide the comfort we enjoy and perhaps take for granted. 

Welfare: The Welfare account ended the year with £819.29 after starting the year with £753.83. Our regular annual income is from our rebate from Membership fees from HQ RAFA for 2024 which totalled £1490. We have provided refreshment within our basement area to support national commemoration events, notably Battle of Britain and Remembrance days. At these events we lay wreaths in memory. We have also provided banner and wreaths to remember local members of the RAF family on passing. On a monthly basis we have provided support to the costs of the sandwich lunches to the extent of £306. Most of the income from social events supports the RAF Wings Appeal. This comes from our Aircraft History Group donations, weekly coffee mornings, attendance at Battle of Britain events, a table at the Jet Age Museum.  From these finances we donated £2000 to the RAFA Wings Appeal, supported from the General account. 




We held a major commemoration this year to honour to the crew of Halifax MZ311, which crashed on Cleeve Hill on 26 August 1944 on the 80[th] anniversary. We funded the event to the extent of £2800, funding supported from the general account. To offset this expense we received donations of £500 from our insurer, C$250 from the visiting relatives and £50 from a local resident, which we sent direct to RAFA HQ as they could reclaim Gift Aid. We shared the donations with Cleeve Hill in recognition of their co-operation to organise the event. Sadly but in commemoration within the local RAF family, our standard bearer has attended funerals of past RAF personnel. In thanks we have received donations. 

Stephen Poulton Treasurer RAFA Cheltenham Branch 



# **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **FOR** 

**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH (REGISTERED CHARITY NUMBER: 231667)** 



**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES** 

I report to the charity trustees on my examination of the accounts of The Royal Air Forces Association – Cheltenham Branch for the year ended 31 December 2024. 

## **Responsibilities and basis of report** 

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Charity’s accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


Robert Harris FCA Kingscott Dix (Cheltenham) Limited Chartered Accountants 7 Rockfield Business Park Old Station Drive Leckhampton Cheltenham GL53 0AN 

11 February 2025 



**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2024** 

|Notes<br>**INCOME FROM**<br>**Donations and legacies**<br>Donations<br>2<br>**Charitable activities**<br>Welfare<br>Branch property<br>3<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Welfare<br>Branch property<br>Branch activities<br>**Total**<br>4<br>**NET INCOME / (EXPENDITURE)**<br>Transfers between funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward|2024<br>Unrestricted<br>Fund<br>£<br>2,815<br>-<br>50,273<br>53,088<br>-<br>78,706<br>7,716<br>86,422<br>**(33,334)**<br>(2,006)<br>184,222<br>148,882|2024<br>Restricted<br>Fund<br>£<br>-<br>1,339<br>-<br>1,339<br>3,280<br>-<br>-<br>3,280<br>**(1,941)**<br>2,006<br>754<br>819|2024<br>Total<br>Funds<br>£<br>2,815<br>1,339<br>50,273<br>54,427<br>3,280<br>78,706<br>7,716<br>89,702<br>**(35,275)**<br>-<br>184,976<br>149,701|2023<br>Total<br>Funds<br>£<br>3,360<br>698<br>50,496|
|---|---|---|---|---|
|||||54,554|
|||||6,355<br>46,315<br>4,478|
|||||57,149|
|||||**(2,595)**<br>-<br>187,571|
|||||184,976|





**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **BALANCE SHEET** 

## **As at 31 December 2024** 

|Notes<br>**Fixed assets**<br>Tangible assets<br>7<br>**Current assets**<br>Stocks<br>Debtors<br>8<br>Cash at bank<br>**Creditors**<br>Amounts falling due within 1 year<br>9<br>**Net current assets**<br>**Total assets less current liabilities**<br>**NET ASSETS**<br>**FUNDS**<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**<br>10|2024<br>Unrestricted<br>Fund<br>£<br>79,257<br>350<br>977<br>69,691<br>(1,393)<br>148,882<br>148,882<br>**148,882**|2024<br>Restricted<br>Fund<br>£<br>-<br>-<br>-<br>819<br>-<br>819<br>819<br>**819**|2024<br>Total<br>Funds<br>£<br>79,257<br>350<br>977<br>70,510<br>(1,393)<br>149,701<br>149,701<br>**149,701**<br>148,882<br>819<br>**149,701**|2023<br>Total<br>Funds<br>£<br>81,210<br>350<br>1,448<br>103,548<br>(1,580)|
|---|---|---|---|---|
|||||184,976<br>187,571|
|||||**184,976**|
|||||184,222<br>754|
|||||**184,976**|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 13 February 2025 

............................................. Mr M K Bryant Branch Chairman - Trustee 



**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2024** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK’, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

The functional and presentational currency of the charity is British Sterling (£). The charity is a public benefit entity. 

## **Reduced disclosure exemptions** 

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102: 

- the requirements of Section 7 Statement of Cash Flows. 

## **Judgements and estimation uncertainty** 

No significant judgements nor estimations have been used in preparing the financial statements. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. 

Plant and machinery 25% reducing balance Fixtures and fittings 25% reducing balance 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 



**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **Financial instruments** 

The trust 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. 

## **2. DONATIONS** 

|Wings appeal<br>Donations<br>**3.**<br>**BRANCH PROPERTY**<br>Rents received<br>Room hire|**2024**<br>**£**<br>1,491<br>1,324<br>2,815<br>**2024**<br>**£**<br>49,696<br>577<br>50,273|**2023**<br>**£**<br>1,293<br>2,066<br>3,360<br>**2023**<br>**£**<br>50,496<br>-<br>50,496|
|---|---|---|



## **4. EXPENDITURE** 

|**Charitable activities**<br>Welfare<br>Branch property<br>Branch activities<br>Total 2024<br>Total 2023|**Direct**<br>**Costs**<br>**£**<br>3,280<br>78,706<br>-<br>81,986<br>52,670|**Staff**<br>**Costs**<br>**£**<br>-<br>-<br>-<br>-<br>-|**Support**<br>**Costs**<br>**£**<br>-<br>-<br>7,716<br>7,716<br>4,478|**2024**<br>**Total**<br>**£**<br>3,280<br>78,706<br>7,716<br>89,702|**2023**<br>**Total**<br>**£**<br>6,355<br>46,315<br>4,478<br>57,149|
|---|---|---|---|---|---|



Direct costs are the costs incurred by the charity to achieve its objectives. Support costs are the costs incurred in the general running of the organisation. 

## **5. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits during the current or previous year. 

Trustees were reimbursed expenses of £1,683 during the year (£1,086 in the prior year). 

## **6. TAXATION** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 



**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **7. TANGIBLE FIXED ASSETS** 

|COST<br>At 1 January<br>Additions<br>31 December<br>DEPRECIATION<br>At 1 January<br>Charge for year<br>At 31 December<br>NET BOOK VALUE<br>At 1 January<br>At 31 December|**Freehold**<br>**property**<br>**£**<br>73,731<br>-<br>73,731<br>-<br>-<br>-<br>73,731<br>73,731|**Plant &**<br>**machinery**<br>**£**<br>4,008<br>-<br>4,008<br>4,008<br>-<br>4,008<br>-<br>-|**Fixtures &**<br>**Fittings**<br>**£**<br>35,526<br>-<br>35,526<br>28,047<br>1,953<br>30,000<br>7,479<br>5,526|**Computer**<br>**equipment**<br>**£**<br>800<br>-<br>800<br>800<br>-<br>800<br>-<br>-|**Total**<br>**£**<br>114,065<br>-<br>114,065<br>32,855<br>1,953<br>34,808<br>81,210<br>79,257|
|---|---|---|---|---|---|



Freehold property is mixed-use, in part used by the charity, and in part let to generate income. It is shown within tangible fixed assets, as the fair value of the investment property component cannot be measured reliably. Consequently, the whole of freehold property is recognised at cost. 

The freehold property was bought by members post World War II, thus its market value at the balance sheet date is considerably more than its original cost. 

## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Other debtors<br>**9.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other creditors<br>**10.**<br>**MOVEMENT IN FUNDS**<br>**At**<br>**Incoming**<br>**Resources**<br>**31.12.2023**<br>**resources**<br>**expended**<br>**£**<br>**£**<br>**£**<br>UNRESTRICTED<br>General fund<br>184,222<br>53,088<br>(86,422)<br>RESTRICTED<br>Welfare fund<br>754<br>1,339<br>(3,280)<br>TOTAL FUNDS<br>184,976<br>54,427<br>(89,702)||**2024**<br>**£**<br>977<br>977<br>**2024**<br>**£**<br>1,393<br>1,393<br>**Transfers**<br>**£**<br>(2,006)<br>2,006<br>-|**2023**<br>**£**<br>1,448<br>1,448<br>**2023**<br>**£**<br>1,580<br>1,580<br>**At**<br>**31.12.2024**<br>**£**<br>148,882<br>819<br>149,701|
|---|---|---|---|
|||||
|||||
|||||





**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

|UNRESTRICTED<br>General fund<br>RESTRICTED<br>Welfare fund<br>TOTAL FUNDS|**At**<br>**31.12.2022**<br>**£**<br>180,525<br>7,046<br>187,571|**Incoming**<br>**resources**<br>**£**<br>53,856<br>698<br>54,554|**Resources**<br>**expended**<br>**£**<br>(50,794)<br>(6,355)<br>(57,149)|**Transfers**<br>**£**<br>635<br>(635)<br>-|**At**<br>**31.12.2023**<br>**£**<br>184,222<br>754<br>184,976|
|---|---|---|---|---|---|



## **11. RELATED PARTY DISCLOSURES** 

The Branch forwards donations received under the Wings Appeal to The Royal Air Force Association, and in turn receives a rebate for local welfare use. During the year donations were sent of £2,000 and rebates were received of £1,491. 

## **12. RESTRICTED FUNDS** 

The welfare fund is held in a separate bank account and is held to provide monetary support to the RAF Family and for the provision of advice and welfare services. 



**THE ROYAL AIR FORCES ASSOCIATION – CHELTENHAM BRANCH** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2024** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Wings appeal<br>Donations<br>Subscriptions<br>**Charitable activities**<br>Rents received<br>Social activities<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Rates and water<br>Insurance<br>Light and heat<br>Letting charges<br>Repairs<br>Property repairs<br>Cleaning<br>Professional fees<br>Sundries<br>Deprecation<br>Subscriptions<br>Annual conference<br>Secretarial expenses<br>Remembrance events<br>Telephone<br>Grants to institutions<br>Accountancy and legal fees<br>Sundries<br>Welfare Officer expenses<br>Welfare activities<br>Grants to institutions<br>**Total resources expended**<br>**NET INCOME / (EXPENDITURE)**|**2024**<br>**£**<br>1,491<br>1,324<br>-<br>2,815<br>50,273<br>1,339<br>**54,427**<br>1,730<br>4,106<br>4,799<br>8,484<br>-<br>50,949<br>4,719<br>1,320<br>646<br>1,953<br>27<br>546<br>-<br>3,631<br>1,293<br>-<br>1,080<br>1,139<br>108<br>1,172<br>2,000<br>**89,702**<br>**(35,275)**|**2023**<br>**£**<br>1,293<br>2,066<br>-|
|---|---|---|
|||3,360<br>50,496<br>698|
|||**54,554**|
|||2,151<br>4,604<br>3,993<br>8,700<br>468<br>23,906<br>-<br>-<br>-<br>2,493<br>-<br>278<br>322<br>120<br>1,010<br>1,086<br>1,240<br>423<br>185<br>1,170<br>5,000|
|||**57,149**|
||||
|||**(2,595)**|