2020-09-30-accounts

			Page
Legal and administrative		information
Trustees' Report			2-3
Independent Examiner's		Report
Statement offinancial	activities
Balance sheet
Notes forming part of	the	financial statements	7-10

TRUSTEES			Mr. D Reeh, P.J.Tacon,	BSc(Eng), FRAeS BA, FCIS	BSc(Eng), FRAeS BA, FCIS
			Capt C Spurrier BSc(Eng)
			Mr R Piper BSc
			Captain J P	Towell	FRAeS
PRINCIPAL OFFICE			Air Pilots House
			52a Borough	High	Street
			London
			SE1 1XN
BANKERS			Barclays Bank pic
			326-328 HlghHolborn
			London
			WC1V 7PE
INVESTMENT	ADVISORS		Sarasin 8 Partners		LLP
			Juxon House
			100St Paul's	Churchyard
			London
			EC4M SBU
CHARITY REGISTRATION		NUMBER	236167
INDEPENDENT	EXAMINER		Paul Newman
			Beren House
			East End
			Aynho Road
			Adderbury
			Oxfordshire
			OX173NJ

				Notes	2020 f	2019 f
Income and endowments	from
Donations from Air Charities	Trust				24,000	39,000
Other donations					310	275
Investment income					15,138	14,525
Total					39,448	53,800
Expenditure on
Grants, scholarships and donations				3	10,507	17,459
Support costs				4	7,954	8,291
Management and administration				5	8,350	9,155
Total					26,811	34,985
Net surplus					12,637	18,895
Gain on disposal ofthe participating		interest	in the property		750,000
Investment revaluation gains				8	3,120	16,257
Net movement in funds					765,757	35,152
Balance at 1 October 2019 Balance at 30September 2020					1,185,619 1,951,376	1,150,467 1,185,619

		2020	2019
	Notes	E	E
Fixed assets
Tangible Assets		1,409,565	1,412,528
Investments		452,484	1,149,364
		1,862,049	2,561,892
Current assets
Debtors		188	1,166
Bank and cash balances		92,809	8,091
		92,997	9,257
Creditors	10	3,670	185,530
Net current assets I(liabilities)		89,327	176,273
Creditors greater than one year			1,200,000
Total net assets		1,951,376	1,185,619
Funds	12	1,951,376	1,185,619

2. Investment income
			2020	2019
			8	f
Interest				59
Dividends			15,138	14,466
			15,138	14,525
3. Grants, Scholarships		and Donations
			2020	2019
			8	f
The amount payable	in	the year comprises:
Bursaries Donations Scholarships Affiliated society subscriptions Cobham Lecture			3,000 6,528 979	3,000 4,424 6,950 1,520 1,565
			10,507	17,459
4. Support costs
			2020f	2019 f
Accommodation costs Equipment and computer		costs	142 179	1,324
Travel expenses			12	8
Trophies and awards			41	200
Trustee meetings			43	57
Depreciation			7,537	6,702
			7,954	8,291
5. Management and administration
			2020	2019
				E
Administration services Independent examination		fees	4,949 300	4,799 300
Accountancy Legal & Professional	Fees		2,400	2,400 900
Telephone and communications			130	90
Postage, printing and	stationery		220	268
Professional committees			341	361
Bank charges				15
Sundry expenses			10	22
			8,350	9,155

Tangible Fixed Assets
	Land &	Fixtures	Office
	Buildings	&Fittings f	Equipment 6	Total 6
Cost
At 1 October 2019	1,419,230	19,283	14,087	1,452,600
Additions Disposals At 30September 2020	4,574 1,423,804	~79,283	~14,087	4,574 ~33,370 1,423,804
Depreciation
At 1 October 2019	6,702	19,283	14,087	40,072
Charge for the year Disposals At 30September 2020	7,537 14,239	:19,283	~14,087	7,537 ~33,370 14,239
Net Book Value
At 30 September 2020	1,409,565			1,409,565
At 1 October 2019	1,412,528			1,412,528

Fixed Asset Investments
	Participating	Listed
Listed investments	Interests	investments	Total
	6	6	6
llilarket value
At 1 October 2019	700,000	449,364	1,149,364
Additions
Disposals	~700,000		~700,000
		449,364	449,364
Revaluation
Surplus for the year		3,120	3,120
Market value
At 30September 2020		452,484	452,484
At 1 October 2019	700,000	449,364	1,149,364
Historical cost
At 30September 2020		327,631	327,631
At 1 October 2019	700,000	327,631	1,027,631

9.	Debtors
				2020 E		2019 f
	Debtors				19	19
	Prepayments				169	1,147
					188	1,166
10.	Creditors
				2020		2019
				E
	The Honourable	Company	of Air Pilots		970	180,330
	Air Pilots Trust					2,500
	Accruals			2,700		2,700
				3,670		185,530

C	reditors	greate	r than one year
9	Warwick	Court	Limited	1,200,000
				1,200,000