THE ROYAL AIR FORCE DISABLED HOLIDAY TRUST (CHARITY NO. 286019) ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2024 The Royal Air Force Disabled HolidayTrust | Report and Flnancial Statements 31 December 2024 Trustee: The Royal Air Force Benevolent Fund Trustees of the Royal Alr Force Benevolent Fund Richard Daniel Bsc (Honsl FRAeS Graeme Craig MA (until 31 December 2024) Wing Commander Dr Sophie Allen MBChB MRCGP DRCOG DFSRH Doccmed DAvMed PGCME Allyson Arnold MSC BSCN (Hon) Patrick Aylmer FCA Alison Benjamin BA {Hons) Richard Cryer MA (Cantabl FCA Wing Commander Sarah Davis MBA Msc FCIPD Alastair Irvine BA (Honsl MCSI Wing Commander Clive Marland MBE Lady Mayhew BA (Honsl Rachel Prendergast BA (Honsl MA luntil 20June 20251 Peggy Waltors (until 18 May 20241 Alan Porter LLM {from 1 November 20241 John Neilson (from 1 September 20251 Independent Examlner Crowe U.K LLP 55 Ludgate Hill London EC4M 7JW Bankers Lloyds TSB Bank plc Cox's and Kings Branch 7 Pall Mall London SW1Y5NA Registered Office 67 Portland Place London W1B1AR The Royal Air Force Disabled HolidayTrust l Report and Flnancial Statements 31 Decernber 2024 Trustee Report The Trustee presents its report and financial statements for the year ended 31 Decernber 2024 for The Royal Air Force Disabled Holiday Trust (the DHTI. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charitys Scheme. the Charities Act 2011 and the Charities SORPS IFRS 1021. The Trustee. Independent Examiner, Bank and Registered Office details are shown on page 1. Structure. Governance and Management The DHT is a charitable trust established under a Trust Deed dated 28 October 1982 and amended by a Charity Commission Scheme dated 29 May 2014. The sole trLJStee of the DHT 15 the Royal Air Force Benevolent Fund IRAFBFI, a charity incorporated by Royal Charter and registered in England and Wales, Charity number 1081009. Consolidated financial statements for the year ended 31 December 2024 are available from the Royal Air Force Benevolent Fund, 67 Portland Place, London. WIB 1AR and Going Concern The Trustees have decided to merge with the RAF8F {the controlling party) and wlll transfer the assets and liabilities of the Trust within the next 12 rnonths. As required by UK accounting standards, the Trustees have prepared the financial statements on the basis that the charity is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern ba515. Public Benefit The Trustee has complied with the duty set out in section 17 of the Charities Act 2011 and has given due regard to public benefit guidance published by the Charity Commission. Objectives and Activities The DHT relieves and irnproves the condition of life of disabled people and in particular disabled people who are members or former members of the Royal Air Force, the Women's Royal Air Force or member of Princess Marvs Royal Air Force Nursing Service and Reserve or their immediate dependants by providing facllities and financial assistance to enable such persons who would not otherwise be able to do. to enjoy holidays whether or not accompanied by their 5POU5e. dependant children or any other necessary attendant. The DHT has established a close working relationship with HPB Management Ltd (Address: HPB House, Newmarket, Suffolk. CB8 8EHI Icompany number 015815931 and this ensures, so far as is possible, that the need5 of the disabled are taken into account during construction of the holiday properties. The Fund purchases holiday bonds in the form of points from HPBM and these entitle the DHT to book holidays at locations throughout the UK. Once purchased, points are held in perpetLJity. Holidays booked with points are generally Subject to user charges which cover the maintenance and running costs of the accommodation. The Royal Air Force Benevolent Fund meets the cost of user charge5 incurred. Inforrvation regarding the RAFBF can be found on www r The Royal Air Force Disabled HolidayTru5t | Report and Flnancial Statements 31 December 2024 During 2024 85 holidays were booked of which 1 S were cancelled, 70 break5 were attended by beneficiaries and their families of which 50961351 of the beneficiaries received the holiday for free. The remaining 50%1351 of those who attended contributed to their holiday. The number of people attending holidays was 202 adults. 44 children and 31 dogs. For 2025 the Trustees have decided to rnerge with the RAFBF (the controlling party) and will transfer the assets and liabilities of the Trust within the next 12 months. This should have no impact on the number of Holidays that plan to be booked utilising the number of units held in bonds. Financial Review Income in 2024 amounted to £50,00812023'. £56.0871 ofwhich £8,8880 was donations from RAFBF 12023,. £3,840) £5,951 Corporate donations12023 £NILI. Gift of shares was £34,77812023: £51,6481 and Just Giving Donations were £39912023: £3991. Expenditure for 2024 conslsted of Respite Breaks paid by RAFBF £27.07012023'. £31,050) Respite breaks at V5C £1,64612023: NIL) and administration charges of £25112023.. £2511. There was a small loss on the revaluation of the investments of £3,64312023'. gain £4,896) This resulted in a surplus for 2024 of £17,39812023: £29,182) resulting in reserves increasing from £550.961 at the end of 2023 to £568,359 ar the end of 2024. Reserves Policy RAF DHT has minimal expenditure apart from the purchase of property bonds. The Trusvs policy 15 to invest any income it receive5 that is in excess of its budgeted administrative costs as qLJickly as possible, usually In further Holiday Property Bonds. in order to maximise the number of holidays that can be provided for eligible beneficiaries each year. The Trust strives to maximise the use of silver bond points f1rst as they don't incur additional user charges on them. The RAF Benevolent Fund has agreed to underwrite the cost of user charges in the future: therefore it had been decided that no more than £10,000 needs to be held in cash reseNes. Reserve5 held as at 31 December 2025, excluding investments was £20.166. The Royal Alr Force Disabled Holiday Trust | Report and Financlal Statements 31 December 2024 Statement of Trustee Responsibilities The Trustee is responsible for preparing the Trustee's Report and the financial statements in accordance with applicable law and United Kinsdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice.) The law applicable to charities in England & Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the TrLJStee is required to.. select suitable accounting policies and then apply them con515tently', comply with applicable accounting standards. including FRS 102. SLJbjett to any material departures disclosed and explained in the financial 5tatementS.' state whether a Statement of Recommended Prattice ISORPI applies and has been followed. subject to any material departures which are explained in the financial statements,. make judgements and estimates that are reasonable and prudent.. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of its Scheme. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustee is responsible for the maintenance and integrity of the Charity and financial information included on the Charitys website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ frorn legislation in other jurisdiction5. Approved by the Trustee and signed on its behalf by: Mr Alastair Irvine Trustee, Royal Air Force Benevolent Fund Date.. The Royal Air Force Disabled Holiday Trust | Report and Financial Statements 31 December 2024 Independent Examiner's Report to the Trustees of The Royal Alr Force (RAF) Disabled Holiday Trust I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024. Responsibilities and Basis of Report As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the 2011 Act'l. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Direttions given by the Charity Commission under section 14SlSllbl of the 2011 Act. Independent Examiner'5 Statement Your attention is drawn to the fact that the charity ha5 prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting period5 beginning on or after 1 January 2015. I have completed my examination. I confirrn that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting record5 were not kept in respect of the charity as required by section 130 of the 2011 Aci.. or the account5 do not accord with those records,. or 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 concerris 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. Signed.. &.k. UF Dated.. 16.10.2025 Crowe U.K. LLP Chartered Accountants 55 Ludgate Hill London EC4M 7IW The Royal Air Force Disabled Holiday Trust | Report and Financlal Statements 31 December 2024 Statement of financial activities for the year ended 31 December 2024 2024 2023 Income from: Donations and Legacies Corporate Donations Individual Donations Donations- Just Giving Gift of shares Total Income 8,880 5,951 3,840 2(Y) 399 399 51,648 56,087 34,778 50,008 Expenditure on: Respite Breaks paid by RAFBF Respite Break VSC Admin charges Total expenditure 27,070 1,646 251 31,550 251 28,967 31,801 Net (expenditurelllncome Net losses on investment assets Net expenditure and net movement In funds 21,041 13,6431 17,398 24,287 4,896 29,183 Total funds brought forward at 1 January 2024 550,961 521.778 Total funds carried forward at 31 December 2024 568,359 550,961 The Royal Air Force Disabled HolidayTrust | Report and Financial Statements 31 December 2024 Balance sheet As at 31 December 2024 Note 2024 2023 Fixed assets Property Bonds 639,339 608.203 Current assets Cash at bank and in hand 20.166 20,018 Current liabilitie5 Creditors.. amounts falling due within one year 191,1461 177.2601 Total Net assets 568,359 550,961 Approved by the Trustee on and signed on their behalf by: Mr Alastair Irvine Trustee, Royal Air Force Benevoleni Fund Date: tliv!￿. The Royal Air Force Disabled Hollday Trust | Report and Financlal Statements 31 December 2024 Notes to the financial statements 1. Accounting pollcles Accounting convention The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepares It5 financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORPI, the Charities Act 2011. Funds Policy The fLJnds held are unrestricted, The funds are available at any time for the use at the discretion of the Trustees for furtherance of the charitls activitie5 and objectives. Going concern The TrLJStees have given consideration to the activities of the DHT, the external economic factor5 and the financial strength of the parent undertaking The Trustees have decided to merge with the RAFBF (the controlling party) and will transfer the assets and liabilities of the Trust within the next 12 months. As required by UK accounting standards, the Trustees have prepared the financial statements on the ba51S rhat the company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis. Income resources All incoming resources are included in the statement of financial activities ISOFAI when the Charity is legally entitled to the income, receipt is probable. and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. Resources expended All expenditure is recognised in the period in which it is incurred. Resources exper)ded include attributable VAT which cannot be recovered. Independent Examiner Fees 2024 2023 Fees to independent examiner (excluding VAT) 1,975 Support Costs Support cost5 consist of the overhead costs associated with the governance and administration of the Charity. The Royal Air Force Disabled Holiday Trust | Report and Financial Statements 31 December 2024 Fixed Assets Property bonds are recognised ar fair value and restated at market value as at the balance sheet date and the gain or loss taken to the statement of financial activities. Cash and cash equivalents Cash and cash eqLsivalents include cash in hand, deposlts held at call with banks and other short-term liquid investments with original maturitie5 of three months or les5. Creditors Creditors and provisions are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 2. Cash at bank and in hand 2024 2023 Bank current account 20.166 20.018 3. Creditors and accrued charges: amounts falling due within one year 2024 2023 Amount owed to the RAFBF 91,146 77,260 4. Related party disclosure The Royal Air Force Benevolent Fund IRAFBFI is the sole trustee of the Charity. The amount dLJe to the RAFBF at the year-end is shown in note 3. The amount paid over to the RAFBF during the year was £NIL 12023.. NIL).