AVIATION ENVIRONMENT TRUST
Charitable Trust Number: 276987
ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2024 TO 31 MARCH 2025
AET registered office: LMF1.09, The Leather Market, 11-13 Weston Street, London SE1 3ER
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Aviation Environment Trust (AET) Charitable Trust Number: 276987
Board of Trustees managing the Trust during this period: James W Bailey Roger Banks Peter Barclay (Chair) Sarah Clayton
Secretary of the Trust during this period: Sarah Clayton
Bankers: Lloyds Plc The Strand Branch 222 Strand London WC2R 1BB
Registered office and principal address:
LMF1.09 The Leather Market 11-13 Weston Street London SE1 3ER Tel: 0203 518 3016 Email: info@aet.org.uk Web: www.aet.org.uk
Annual Report of the Trustees 2024/25
The Aviation Environment Trust (AET) was established on 21st November 1978 by Deed of Trust and is a Charitable Trust registered with the Charity Commission (no. 276987).
Until 2011, the Charity was known and operated as the Airfields Environment Trust.
Principal objectives and policies
AET’s principal objectives, as indicated in its Deed of Trust, are to advance knowledge and understanding of aviation's adverse environmental impacts through research and education. To achieve these objectives, it is the policy of the Trust to promote or produce informative material, on its own or with others, and to hold events such as seminars, conferences and discussion groups to disseminate such materials, to educate, to raise awareness, and to help identify and address the issues.
The Trust also undertakes or supports research into subjects of current importance in the field of aviation and the environment: outcomes should assist problem-solving and understanding.
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Achievements and Performance: Review of the Year
Trustees
The trustees who served during the year to 31 March 2025 were: Mr James Bailey Mr Roger Banks Mr Peter Barclay Mrs Sarah Clayton
The Trustees are responsible for the general control and management of the administration of the charity, and held two meetings during the period on 20[th] May 2024 and 24[th] September 2024. The September meeting served as the Trust’s annual general meeting. Peter Barclay was re-elected as Chair of the trustees for the forthcoming year.
The trustees agree the strategy and areas of research activity for the AET, as well as considering any grant making, and risk management policies and performance. The day-today administration of the Trust is delegated to the Secretary. All staff have an on-going duty to report to the Trustees at each meeting, and to contact the Trustees if a significant issue arises between meetings.
New trustees are elected by the serving Board of Trustees.
Administration and management
The Trust’s administration was undertaken on behalf of the Trustees by Sarah Clayton in a voluntary capacity.
Funding and Promotion
The trustees would like to thank the following organisations for their financial support of the Trust’s work during the year: Millennium Oak Trust, the Network for Social Change and individual donors.
The Trust did not engage fundraisers during the period covered by these accounts.
Work Programme:
A project grant from the Network for Social Change enabled the Trust to support work from the Aviation Environment Federation (AEF) and the No Airport Expansion (NAE) campaign to better understand the planning and legal basis underpinning national policy relating to airport expansion and the treatment of environmental issues. This will help communities better prepare for the Examination in Public hearings being held in respect of Development Consent applications for Gatwick and Luton airports, as well as allowing communities to input into the development of policy for the anticipated third runway plans at Heathrow.
AET continues to support civil society engagement at the UN’s International Civil Aviation Organisation, where NGOs have the opportunity to participate in the process to develop standards and recommended practices for international aviation alongside member states and the aerospace industry. This work programme culminated in the plenary meeting of ICAO’s Committee on Aviation Environmental Protection in February 2025 where an
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agreement was reached on new standards for the manufacture of aircraft and engines to reduce noise and CO2 emissions.
The grant supporting continued NGO participation in the development of Google’s Travel Impact Model saw good progress, with the Advisory Group exploring ways to provide the public with information about the likely climate implications of contrails (the thin condensation clouds emitted when aircraft pass through cold and saturated air which have a temperature impact). The Advisory Group is also investigating how to reflect the use of lower net carbon fuels. These fuels are only available in small quantities at present, but many governments have set mandates to increase the volume in coming years.
Financial Review: Commentary on the Accounts
Income for the financial period increased significantly due to a grant of £75,000 from the Network for Social Change (NSC) and two additional donations received via CAF. The grant from NSC is restricted and relates specifically to a project to be undertaken jointly with the No Airport Expansion (NAE) campaign. Under expenditure, the grant made by the AET to NAE for £46,500 relates to work by NAE as part of this joint project. All restricted funds have now been used. The AET made a small surplus of £12,184 for the year. Overall, the AET’s finances, including its reserve, remain healthy.
Risk management
The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established appropriate systems and procedures to manage those risks. The trustees are not aware of any significant risks.
Reserve Policy
The trustees recognise the need to maintain sufficient reserves to maintain the Trust’s operation in the event of a sudden drop in income or unforeseen expenditure in exceptional circumstances, and to meet any existing and multi-year funding commitments. The level of the reserve will be reviewed each year to ensure that it meets these needs. The current reserve target is £250,000. The trustees policy is to aim to pursue and maintain the target level of reserve funds in a balanced manner that also allows the Trust to respond annually to requests for funding.
At the end of the reporting period covered by these accounts, the Trust continues to maintain its target level and is holding £250,000 in reserve. The reserve funds are unrestricted and no funds held in the reserve have been designated or otherwise committed when the reporting period ended.
Financial Statement
These financial statements have been prepared to satisfy the AET’s deed and in accordance with the Charities Act for the year ended 31st March 2025.
Signed on behalf of the Trustees by:
Peter Barclay, Chair of Trustees, on 20[th] May.
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Aviation Environment Trust
STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| TURNOVER | 234,634 | 153,237 |
| Cost of Sales | 0 | 0 |
| _____ | _____ | |
| TOTAL INCOME | 234,634 | 153,237 |
| Charitable and Other Expenditure | 222,450 | 88,800 |
| _____ | _____ | |
| NET FUND SURPLUS/(DEFICIT) | 12,184 | 64,437 |
| _____ | _____ | |
| SURPLUS/(DEFICIT) ON ORDINARY ACTIVITIES | 12,184 | 64,437 |
| RETAINED SURPLUS BROUGHT FORWARD | 501,507 | 437,070 |
| _____ | _____ | |
| RETAINED SURPLUS CARRIED FORWARD | 513,691 |
501,507 |
TOTAL RECOGNISED GAINS AND LOSSES
The Charity has no recognised gains or losses other than those shown above.
CONTINUING OPERATIONS
None of the Charity’s activities were acquired or discontinued during the accounting periods shown above.
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Aviation Environment Trust
BALANCE SHEET
| 31 March 2025 | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible Assets | 0 | 0 | ||
| CURRENT ASSETS | ||||
| Debtors and prepayments | 0 | 0 | ||
| Cash at bank and in hand | 125,353 | 117,453 | ||
| Bank deposit accounts | 388,338 | 384,054 | ||
| _____ | _____ | |||
| 513,691 | 501,507 | |||
| CREDITORS | ||||
| Amounts falling due within one year | ||||
| Creditors and accruals | 0 | 0 | ||
| Other accruals | 0 | 0 | ||
| Auditors remuneration | 0 | 0 | ||
| _____ | _____ | |||
| 0 | 0 | |||
| _____ | _____ | |||
| NET CURRENT ASSETS/ | ||||
| (LIABILITIES) | 513,691 | 501,507 | ||
| _____ | _____ | |||
| Net Assets/(liabilities) | 513,691 |
501,507 |
||
| Funds | ||||
| Income Funds | ||||
| General purposes funds | 263,691 | 171,496 | ||
| Restricted funds | 0 | 80,011 | ||
| Reserve fund (Unrestricted) | 250,000 | 250,000 | ||
| _____ | _____ | |||
| 513,691 |
501,507 |
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Aviation Environment Trust
Incoming Resources and Expended Resources for the Year Ending 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| GENERAL FUND:- | £ | £ | £ | £ | |
| Incoming Resources | |||||
| From voluntary sources: | |||||
| Project grants (unrestricted): | |||||
| Millennium Oak Trust | 100,000 | 100,000 | |||
| Project grants (Restricted): | |||||
| Network Social Change | 75,000 | 7,824 | |||
| 175,000 | 107,824 | ||||
| Donations (unrestricted funds): | |||||
| Donations via CAF | 11,000 | 0 | |||
| Other donations | 44,350 | 42,100 | |||
| 55,350 | 42,100 | ||||
| From assets | |||||
| Deposit interest | 4,284 | 3,313 | |||
| _____ | _____ | ||||
| Total Incoming Resources | 234,634 | 153,237 | |||
| Expended Resources | |||||
| Charitable activity direct expenditure: | |||||
| Grant to AEF |
166,000 | 58,000 | |||
| Research fees WEF project | 3,000 | 7,000 | |||
| Research grant New Economics F | 0 | 10,800 | |||
| Grant to No Airport Expansion | 46,500 | 8,000 | |||
| Research grant to CAGNE | 4,950 | 0 | |||
| Research grant GALBA | 0 | 3,000 | |||
| _____ | _____ | ||||
| 220,450 | 86,800 | ||||
| Other expenditure: | |||||
| Secretarial & administration | 2,000 | 2,000 | |||
| Rent, water, heating & lighting | 0 | 0 | |||
| Auditors remuneration | 0 | 0 | |||
| Advertising | 0 | 0 | |||
| Depreciation | 0 | 0 | |||
| _____ | _____ | ||||
| 2,000 | 2,000 | ||||
| ______ | ______ | ||||
| Total Expended Resources | 222,450 | 88,000 | |||
| Net surplus/(deficiency) for the year | 12,184 | 64,437 |
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Aviation Environment Trust
Notes to the Accounts for the Year Ending 31 March 2025
Related party transactions and trustees’ remuneration
No payments or remunerations were made to any trustee during the period.
There are no related party transactions during the period.
Accounting Policies
Depreciation is calculated so as to write off the cost of tangible fixed assets by equal annual instalments over their estimated useful lives as follows:-
Equipment – 25% on reducing balance.
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name Aviation Environment Trust members of On accounts for the year 31 March 2025 Charity 276987 ended no (if any) Set out on pages 5-8
(remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2025 .
- Responsibilities and basis As the charity trustees of the Trust, you are responsible for the preparation of of report the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
| Signed: Name: Relevant professional qualification(s) or body (if any): Address: |
Timothy C Thomas | 15 May 2025 |
|---|---|---|
| TimothyC Thomas | ||
| 23 Brooklands | ||
| Headcorn | ||
| Kent TN27 9QS |
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Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of There are no items to disclose. any items that the examiner wishes to disclose .
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