AIR SAFETY TRUST Flnancial Statements For the year ended 30 September 2025 Charity No. 236167
R SAFETY TRUST Contents Pagg Legat and administrative informatK)n Trustees, Rep)rt Independent Examinerfs Report Slalemenl of financial actiwties Balance sheet Note5 foming part of the financial slatements 7-10
AIR SAFEfY TRUST al and admlnlstrative Inf0mtIoTr TRUSTEES Mr D Reeh BSc(Eng) FRAeS Mr P J Tacon BA FCIS Mr M J Tousey BSBA M8A Capl W Gothyin MRAeS Mr J A Denyer Bsc(Hs) FRAeS PRINCIPAL OFFICE Air Pik)ts House 52a Borough Hh Street London SE11XN BANKERS Barclays Bank pk 326-328 HlghHolLx)m London WC1V 7PE INVESTMENT ADVISORS Sarasin & Partnets LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU CHARITY REGISTRATION NUMBER 236167 INDEPENDENT EXAMINER Bibek Panla Crane & partne Limit Leonard House 5-7 Nevmian Road BrLynley BR1 1RJ
AIR SAFETY TRUST TRUSTEES REPORT For th• ar ondod 30 Se ml)or 2025 The Trustees are pleased to present their report and the financial ststeffEnts of the charity for the year ended 30 September 2025. The trustees have adopted the provisions of Accounting and Reporb'ng by Charitses." Statement of Recommended Practice applicab to chariti.es preparing their aDnts in accordance wlh the Finawal Repth'ng Stsndard applicable in the UK RepublK of Ireland IFRS 102) {effective 1 January 2015). Constitirtion and oblts The Air Safety Trust, a registered charty (no. 236167} is constituted uTrJer a trust deed dated 15 July 1964 and amended by a supplement Deed. approved by the Charity Comm¢sgon. kn1¢h came Into effect on 23 January 2003. The principal object of the chanty is the advanment of public interest by thè promotion of safety for all those vh)0 are employed in conne("on wth, or travel by nwns of. aircraft to include all nRans of locomotn in the air or spa. The Trustees are grateful to the HOnOurab C¢)mpany of Air Pilots for their support in provmling assistance Imth their charitable actsvities. Organlsatlon The Iruslees who have served during the year and since the year end are sel on page 1. Grant making policy All grants are made solety in fijrtherance of the obiects of the Trust to organisaticffls Irking in research and development in connection wlh aviion safety and to organisations involved in the promotion of safe working practices. In addth"on. awards are made to indNiduals in the furthernnce cw support of Safety in aviation. Roview of activities A5 usual, grants weie made lo supwl flying scholarships and wofegsional development for fying instructor5 as well as other wjrk and acti¥ibes of the Honourable Conyany of Air Pilots (Alr Pilots) during the year. Flnanclal rovl8w and investment policy The funds of the charity gener*e IrMe is used for the tsJrtherae ofthe objects of the Tru8t. There are no restrictions on the charitys po lo invest. The investment strategy is set by the tNstees and is reviewtd with the investment advisers annualty. The investment in the freehold propety al 52a Borough High Street, London. provNles premises for the Trust and the Honourable Company of Air Pilots as well as being. in the view of trustees. an appreuating invesbnent asset Reservgs policy It is the policy of the charity to maintain all funds at a sufficient level to meet fluctuating demands. The reserves of Ihe charity were maintained al a sufficient level throughout ts year to cover eventualities such as additional administration and support cost5.
AIR SAFETY TRUST TRUSTEES REPORT For the ar ondod 30 ber 2025 Rlsk Management The Trustees have examined the maitir strategic. business and operational iisks thich the tharity faces and confirm thal systems have been established to enable regular reFQrts to bè produced so that the necessary steps can be taken lo SSen these risks. Tru8tsoB' rnsponsibility In relalion to th• flnan¢lal slatoments Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year vknich give a true and fair wew of the chaniys financial activthes during the year and of ils financial position at the end of the year. In preparing those financial stslemenls, the Trustees are reqLtired lo.. - seled Suitable a¢UrIting policies and then appty them consistentty" - make judgements and estimates that are reasonable and pnKlent'. slate %thelher applicable accounb'ng standards and statements of recommended practice have been followed subject to any departures disclosed and eyplwned in the financia statements. and - prepare the financial slatemenls on the going concem basis unless it i8 inappropriate to presume that the chanty wll continue its operalions. The Trustees a responsible for keewng accounting recorils vknich dtsdose reasonable aUrseY at any time the financial position of the thanty and enable them to ensure th the financial statemer comply wth the Charities Aca 2011. They are also responsible for safeguarding the assets of the charfty and hee for taking reasonable steps for the prevention and detection offraud and other irregUlare5. Approved by the Trustees and signed on their behair ty.. Signed.......... Date . ! -!(.( £L-L j
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AIR SAFEfY TRUST FOR THE YEAR ENDED 30 SEPTEMBER 2025 Independenl examinerfs report to Ihe Irustees of Alr Safety Trusl I report lo the charity trustees on my examination of the accounts of the The AJ"r Safety Tnjst for the year ended 30 September 2025. Responsibilities and basis of report As the charity trustee5 of Ihe Trusl you are responsible for the preparation of the )Unts in am)rdance with the requirements of the Charr1 Act 2011 Ilhe ACYI. I report in respect of my examinabon of the Trusvs ae(x)urts Larried Imrt under section 145 of the Act and in carrying out my examination I have followed all appIable DirectvJns given by the Charity Commission under section 145{5llb} of the Act Independent examinerfs staternent I have completed my examination I confim that no materi21 matters have C£*me to my attenb'on in conneth'on with the examination gNing me cause lo bdieve that in any material respect.. accounting records were not kept in respect of the Trust a5 rEquired by secb.on 130 of the Act", or the accounts do not accord with those records.. or the cOuntS do not compty wrth the applicable requirements cotKeming the form and content of accounts set out in the Charrties (Accounts and Reports) RegulatKTrns 2008 other than any requirement that the accounts give a true and fair wew which is not a matter considered as part of an independent examinat. I confirm that there are no other matters to which your attention shoukl be drawn to enable a proper undelstanding of the accounts to reached. Bibek Panla Crane & Partners Limited Leonard House 5-7 Newman Road Bromley 8R1 1RJ
AIR SAFETY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Income and endowments from DonatH)ns from Air Charities Trust Other don£ttrnS Investment inccme 18,0 1,350 16,113 18,500 945 16,795 Total 35.463 36,240 Expendlture on Grants, scholarships and donations Support costs Management and administration 39.353 8,469 9,194 23,026 8,299 8,*8 Total 57.016 40,293 Net doficit {21,553) {4,0531 Investment revaluatK)n gains 66.606 Net movement in funds Balance at 1 October 2024 Balance at 30 Septernber 2025 993 2,017,029 2.018,022 62,553 1,954,476 2.017.029 Condnulng operatlons All income and expendrture has arisen from continuirYJ operat3
AIR SAFEfY TRUST BALANCE SHEET as at 30 September 2026 2025 2024 Notos Flxgd •ssets Tangible Assets Investments 1,389,022 610723 1.999,745 1.384, 588,177 1,973,173 Current assets Debtors Bank and cash balances 294 33,101 33,395 285 75,123 75,408 Creditors Net current assgts 10 15.118 18,277 31.552 43,856 Total ngt assets 2,018,022 2.017,029 Funds 2,018,022 2,017,029 Approved by the tTuslees and Sign on their behalf ty. Trustees Dale...
AIR SAFETY TRUST NOTES TO THE FINANCIAL STATEMEpifs For the ygar ended 30 Se mr 2026 Principal accounting pollcies Accountlng ¢onventlon The financi81 ststements of the charity, whh is a public benrfrt enttty under FRS 102, have bèe prepared in accordants with the Charrties SORP IFRS 102} Accounting and RertIng by charit.. Statement of Recommended Practice appluble to charities preparing their &counts in aCcOrdae with the Financial Reporting Stsndard appIable in the UK and Republic of Ireland IFRS 1021 (effective l January 2015}', Financial Reporb"ng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Chantiès Act 2011. The financial Statements have been prepared under th& historical cost u)nvenlN)n. Investment Income Invesknent inwme is accounted for in the perKrfl in whh the chaiity is entitl&J to receipt. Resourc0$ expended Expendilufe is included on an accruals basis. Costs of generating funds comprbse those costs directty attribthab to ManIng the investment portfolio arKI raising inve¥trnent income. Grants payable are charged in the year lthen the offer is conveyed to the recipient except in th05¢ cases where the offer is condf(ional, such grants being reccynised as expendf(ure when the condi(ions attaching are fufilled. Grants offered subject to condrtions whh have not been mel al the year end are noted as a commrtment, but not accrued a5 expenditure. Support costs comprise costs for prSsIj grants and aPpI10n5, in¢luding suppryi to actual and polenlia5 applicants. Management and administration comprises costs for Ihe running of the charity itself as an organisalion. Where costs cannot be di• lo either of these cata9ories, estimates are made based on activity Vels. Tangible fixed assets and depreciatlon DepreCiatn is provided at the folbw.ng annual rates in order towite off each asset over i estimated useful life. Buildings 1% on a strab3ht line basts Fixed assets Investments Investments are included at ek)sing mid-mathel Yalue at the baL8rte sheet date. Any gain or loss on revalulion is taken to the Ststement of Financk41 ACtNit. Fund accountlng Details of the nature and puw of fund are set out b8bxf in note 11. 1. Ststutory Infomiation Air Safety Trust is a Regi5teTed Charity. dcrfniciled in England and Wa, charty number 236167. The registered office is Air Pilots House, 528 Borough HKJh Street. London, SE11XN.
AIR SAFETY TRUST NOTES TO THE FINANCIAL sTATEME1s For the ear ended 30 Soptornr 2025 2. Investment In¢ome 2025 2024 Diwdends 16,113 16,113 16,795 16,795 3. Grants. Scholarshlps and Donatlons 2025 2024 The amount payabb in the year comprise5.' Bursaries Sponsorship tlonalions Scholarship5 Affiliated society subscriptions Cobh?m Lecture expenses 5,000 7,735 22,550 2,361 1,707 39.353 1.288 15.035 2,319 1.884 23.026 4. Support costs 2025 2024 Accommodation cost5 Equipment and computer costs Travel expenses Trustee meetings DepreCiatn 225 425 15 93 7,711 8,469 206 397 14 89 8,299 5. Management and adminlstratlon 2025 2024 Adminislrath)n semces Independent examinatK)n fees Accountancy Postsge, printing and stalKry Professional committees Sundry expenses 5,925 300 5,715 300 2,400 71 473 76 480 13 9.194 8.968 6. Staff costs and tw$toes remunerntion The Air Safety Trust does not emph)y any staff diiectty bul contributes via an alkncat of costs towards the use of staff ernpb)d by the Honourable Cunpany of Air Pilols. Trustees received no runeratIOn and not rewnbursed for any of their expgnse5.
AIR SAFE TRUST NOTES TO THE FINANCIAL STATEMENTS For the ar gnded 30 Se mber 2025 7. Tanglblo Fixed Assets Land & 8uildlng8 At 1 Octcthr 2024 Addf(ion$ 1.429.493 11.737 1,441,230 Dopreclatlon Al 1 October 2024 Charge for the year AI 30 September 2025 44,497 7,711 52,208 Net Book Valuè AI 30 September 2025 At 1 October 2024 1,389.022 1,384.996 The freehold offiee premises at Air Pilots House. 52a Borough High Street, London, is owned joint between the Air Safety Trust {65%). the Honourable Company of Air Pibls and the Air Pilots Trust. The tf(le is held in trust by "r Pilots Prcyerty Ltd on behaK of the threeioint Miers. . FIX Asset Investments Ustod Invgstmonts Llstod Invgstments Market value Al 1 Oclobef 2024 Addit)n5 588.177 588.177 Revaluatlon Surplus for the year Market value AI 30 September 2025 At 1 October 2024 610,723 588,177 Hlstorlcal cost At 30 September 2025 At 1 October 2024 387,589 387,589 9. Debtors 2025 2024 Debtors Prepayments 19 275 294 266 285
AIR SAFEff TRUST NOTES TO THE FINANCIAL STATEMETrtrs For the ear ended 30 Septomb&r 2025 10. Creditor4 2025 2024 Due lo The Honourable Comparry of Air Pik)ts Due lo Air Pilots Twst Accounts payable AcGNals 1.380 6.038 11,546 16.038 1,268 2,700 7.7(K) 15,118 31,552 11. Fund$ These ccmprise those funds whKh the thjstees * free to Lvse in 8(xordan¢e with the charitable objects of the trust. There were no restricted fvnds in the current year. 12. Commltments All gnIS authorised by the trustees prior to the end of the ar he been included in the accounts. 10