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 Inf0m￿tIoTr
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(H￿s) FRAeS
PRINCIPAL OFFICE
Air Pik)ts House
52a Borough H￿h 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 a￿D￿nts in
accordance wlh the Finawal Repth'ng Stsndard applicable in the UK RepublK of Ireland IFRS 102)
{effective 1 January 2015).
Constitirtion and obl￿ts
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 advan￿ment 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 locomot￿n 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 I￿rking in research
and development in connection wlh avi*ion 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 Ir￿Me is used for the tsJrthera￿e 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 a￿UrseY 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 he￿e for taking reasonable steps for the prevention and detection offraud and other irregUlar￿e5.
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 appI￿able 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£t￿trnS
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 operat￿￿3

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
m￿r 2026
Principal accounting pollcies
Accountlng ¢onventlon
The financi81 ststements of the charity, wh￿h is a public benrfrt enttty under FRS 102, have bèe
prepared in accordants with the Charrties SORP IFRS 102} Accounting and Re￿rtIng by charit￿..
Statement of Recommended Practice appluble to charities preparing their &counts in aCcOrda￿e
with the Financial Reporting Stsndard appI￿able 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 wh￿h 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 Man￿Ing 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 wh￿h have not been mel al the
year end are noted as a commrtment, but not accrued a5 expenditure.
Support costs comprise costs for pr￿SsI￿j grants and aPpI￿￿10n5, 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
DepreCiat￿n 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 sTATEME1￿s For the ear ended 30 Soptorn￿r 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
DepreCiat￿n
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 stalK￿ry
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 r￿uneratIOn 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 g￿nIS authorised by the trustees prior to the end of the ￿ar h￿e been included in the accounts.
10