02 7189 RT AND FI ATEM R THE YEAR ENDED MAR PA Ito4 Indepamlent Examinerfs RepK Balano Sheet 9t018 The Trustees are to tr trer knnual Rewt tL*3ether vhth the finanaal Statema)ts of the Charity for the Y&ir Ended 31st March 2023 a also prepar&1 to meet the requirements for Directors, Rewt ar#J P£counts CpanIeS kt purp)se& The nandal statnts CLwnpty with awrities PLt 2011, the C(Thpanies PLt 2006, the Memorandum & artides of A$slat, a1 Ac£ount & ReportiNJ 0rIties. Ststement of Recommend&1 Praclice applicable to CharTties preparirKJ ther kcounts in accdae *ryth the FinarKial Rq)ortirrfJ Stsndard appliGible in the UK aTrJ Resxjblic of Irejand (FRS 102) (drtive 1st January 2015). The DirectcKs of the charitstle c(ttrpany (tre Chaiity) are its Trust ts the wrpose of (harlty law. The Trustees a kYcws&I and appoin by ts 8oanl of Trus at their meetiNJs thrrAJghout the year or otherwise at the Jmnual Gal meeting. Ross Erlam Paul David Stor* Rhianrnn jo DOla11 Secr&ary: RO 142. W Twminal 3, Heathrow Alr MMIdle IW6 IBZ Reg1*W Numbw: 02056086 P£countsnts: 4(Kl Harrw Road LoTrJon W) 2HU Bankers.. Bar Bank P Cardinal PcinL trÈathrtraT Alrwt mIddle IW6 2RA HEATHR YEAR ENDED Heathrow Travel Care continue5 to have 1400 contacts wlth vulnerdble pwle annualty. Our referrals are tsken from a variety of agencies inding pe, security, mentsl health teams, kKal authorities, British Embassie5 abroad, varNJJs charit*s and sdf.refwral& (kn work consists of the folhing 3 main areas: Crisis Social WC. vulnerable people, chikl a1 farnity Conc, those with leaming disabilities, vKtims of intwnet Emergency Planning - for Inityal Humanitsrian AssistarKe avnear Heathrow: We tinUe to coordiprOVIde Initial Humanitsrian ASsstrn fdkh¥iry arry maiy incident c disaster aff1[j the Heathrow area. We train and co ciM)rdinate the ctye t&im, airport thapL3ins and 34 volunteers, to be prepared for any major irKyknt at LH We were aLg) inv(Aved in the Ukrnine arrivals Mirj meetiry5 a1 arrivals at Heathrow. Social Work Advi to the Fwn and COmm1th OtfKe {F.CO.) Partnership projert wlth Ce)tral &Jvt wovmling sctial VKKk to Cowlar in London a1 alyoad to assist retyrnirKJ vulrwatAe lt1th natxyols alyoad. Travel Care are supwrted financially by three funders.. Heathrow Airwt Ltd (HAL), the London Borough of HillirKJd(M aThJ the Fown. CcmffKffjwealth & Cffte. We are estsb1l4d in our currwrt wwnises in Twminal 3 arTv¥ak5, prov& by The organisation is a tharitsble company Ilmltul ty guarant* ftxmexl in 1972 and is estsLI1* urKler Travel Care has a knrd (* Ints vhK) meet quwtth and a re¥*ILle for the strabj direLtion and wlicy of the charity. At we$t thwe a 6 tn&ees from a variety of wofessional backgrou15 apprwiate to the runnirKJ of the tharity. PA THE TR The objVe5 of the chartiy are to assist a1 advse in uigs distress at H&ithrow. This IludeS the vari(xJs dia)t grS litsl alM)4e urKts'dwThind'. We aChIed many sijccessfvl diait wtc(w througtrKXrt the year, Indling many complex cases Involvlng mentsl health admissKJns to tryits15 for the most vUln&ae dients. (Xjr work ¥th vulnerable arrivals at Heathrow as re9Jlt of the Suthne5e and Ukrainkqn conflids has been a huge success. Inl Full scale night.time anergency uwclse to test ow rwrnse. We T•hiH continue to ty arKI engage with hard.treach dient group& As part of our multi.aguKy wthing with are increasing our trainin9 and to many partner awKies. Detsils of trustee recruitswiL f(*mat (x tJustee WKI m.5 are li*eAI in the drity Artides of All trustees are familiar v4ith the praLtKal of the drity know the stsff team V1. have direct o)ntsct with the tearn visibng ts Travel Care (fftes a$ durirwj annual team days. Prln Heathrow 'rrt Ltd, London &xwh rf Hill1r arnl e9n & C(ThxYwlth Cffte continue to be our main funding swr Sufficient operatiThJ costs listal as restrthl reserves enable us to have reseJves tt) owate in the event of k>s'ng a maicw stream of furKling, allowiNJ Krc time to Itsfy, arrange and generate an altemative fundirKJ stream. To cease a(*wty with k)ss of fUling 15 not considerejj feagtle Sin we a an emb&ld&l part of Heathrov/s pr5 . he additional reserves will enable us to uphold resrK)nsibiltiies to Stakehol at w(xkl's Imtsiest inttsnational airpjts, whilst tyirKJ to Secu arnatIve fuThYirKJ sh( this arise. The trustees and savice manw have led tre w risks to 1th the charlty a expowl. Procedures are in to c(xnpliarKe health arKI safdy of #aff and to Travel Care. All pr(Thlures are reguLirly revi&yed to mre The meet the high starxlards of the charity. HEATHR The Charity trustees (who a al dirt5 of the H&ithrow TraVel-ca for the Purpo of the company law) are reSP)ble fw preparing a tnee annual rwt arKI finanaal ststements in accordan with applicable law arKJ United ngdorn P£Cnting Stsndards (United Kingdom Generally Accepted Accwnting Pracbce). Compary law requires the Chaiity trustees to epa financial stat7t fty eath year vthich give a true and fair vie&Y of the state of affairs of the drItsb1e cornpany and of the incoming resour and application of recourses, IndlIng the income and the WUMlitiJr< of tr* tharitabk group for that Feriod. In preparing the finae staterne, the trustees are required to.. Observe the meth(5 and principle in CharTrtie5 SORP; Make judgements and estimate that are reanable and W18)t. state whether applKable UK accounting starKlwds have teen fdkrAtd, subieLt to any material depathres disclos and eXPkin in the financial stateffi; Prepare the finanoal stateMts on the goiThJ co) basis unless it is inapproprte to wesume that the Charity will o)ntinue in busine The trustees are reswngble for kw'ThJ proper accounting rec1$ that dsck>se with rea9)nable accuracy at any time the finarKial IN)tron of the Charity and to enable them to ensu that the finance StateMts compty Kryth the companies kt 2006. Tty are akn reSnsible for safeguarding the assets of the LTharity and the group a1 tsk'ng the reaxN)able steps pE¥enticm and dettIon of fraud and ottr irregularities. The trustees are rwsiL4e mairrtemarKe and Kibjrity of the c(Yprte and financial inforniation Incled on the charitsb company ebste. Legislaticffi in the Unit&l ngdorn govemir¥J the preparation and dissemination rf finala1 statts may differ from begislati in other jir11CtIOn& In so far as the Tru51ees are aware at the ts'me of appromng (Mjr Tru*eeg Annual Repxt: There is rK> relevant information, being infrtK ne&11 ty the INleperKlwrt Examinw in conneLtKm with prqyaring their and The Trustees, havTrThJ made wwuiries of fdlow Trustees, have eath tsk all sieps that helthe Is obliged to tske as a Trustee in order to make aware of any rdevant information and to estsblish that the Indep Examiner is aware of that information. This re[ has teen prepared in aCC(Xdan ¥th the SpJaI rdatiry to companies subject to the small companies regime within Part 15 of the C(Nnpanies P£t 2¢X)6. Approved ty the trusiees the 26th Septnl 2023 aThl swjnoj its bethalf ty: Ross Erlam HEATHR R TH NDE I rqxyt on the financial Statem of Tra%fl<4p for the Y&v Ended 31* March 2023 vthich are set out on Pages 6 to 18. The tn&ees (who a also the dir&tors of the puryx)ses of company law) a resp)nsible for the pparatioft of the accounts. Tr tnstees cons*Jer that an audit is Thjt rUIr1 for this year under sertion 144(2) of the Charities Act 2011 (the 2011 Act) and is digitle for an irKlep examination. The Charivs gross income dKI rK* exceed £5(M),O(Xl I am qualifi&l to undutske the examination by belng a qualified rrembw of Tr Ir&lUrte of Ch)rtwgJ Accwrtants in Eryland & Wale5. Hawng s*isfvJ mysdf that the Iyority is wwt to aKJit uThleT company law and is ell9ible for independent examination, it is my re4x)ngblty to: pjamine the finarKial statetr urts s&tion 145 of the 2011 Act: follow the pralureS ld (knvn in the general DireLtMxs given by the (harlty Commission (under section 14515)(b) of the 2011 A¢. My examination was carried out in accordance with the gwal Dirthn5 given the Cjwity Commission. An examination indudes a rvliew of the Kcounting rordS kept by the tharity a comparison of the accounts pre*nted with those r5. It also indudes con5K of any unusual items or dI105re5 in the accounts, and sttknng eXanationS from you as truts conceming any such mattws. The procedu5 undertaken do not provbde all tr* e4Mdefft that would iE Uired in an audr( arKJ consequenty no opinion is given as to the acojunts arKI fair viek arKI the IHxxt is limibj to matlers set In connecknon with my examination, no matter has c(me to my attent1. to keep accounting recr15 in with s&tKffi 386 rf the Companies Art 21K)6 arKI requirements of section 396 of the Companies Act 2[ and with the methods and prilpleS of ha nrrt met or (2) to which, in ry opinion, #Id be to enable a woper Uler*r1Ing of tr accounts to te r& 400 Harrow Ro1 F(K and on behaW of: Cole & Co Chartered Accountsnts and Rep)'n9 Accourtants HEATHROW TrA ATEM NAN 20 DcA)ations and Legacies Income from Q)aritabie kbvltles 13,437 555,180 6,292 473,817 568,617 480,109 (448,530) (23,982) (441,789) (12,743) (472,512) (454,532) %,105 25,577 Totsl Funds ht Fowr(I 274,291 248,714 Total Funds Girrled Forward 370,396 274,291 The Statern nanal knItS indleS all arnl k)S rLrryJniwl in the ypar. All Incon a1 ExpvKl1re dwi¥1 frrxn c(xrtinuiry xbvitRs. PA HEATHR R THE TrEAA ENt)ED Isr MAR 22 13.437 6,292 Income from uritale ktivities Grants: Heathrow Airwt Llmited London BOrh of Hillingd 169,883 107,689 277,6 131,938 I30,C) 211,879 555,180 473,817 568,617 480,109 EXPEND Salaries and Nati(Kl Irae 354,ITJ 48,878 353,466 53,876 Staff Training Travel and Subsisten Cortsultancy Fees 3,160 2,277 31,128 2,341 2,253 23,355 618 4,200 offi EqUIt and pplieS 448,530 23,982 441,789 12,743 (4n.512) (454,532) 96,105 25,577 I Inc( a1 ExpKIle fr(Kn ct¥rtinuiry adivi a4 AT Cash at Bank and In Ha1 387,354 287,530 387,354 287,530 £BE. Amc4Jnts falllry due Vathin lkne Year (16,958) (13,239) 370,396 274,291 Unrestrlcted Income Funds io 370,396 274,291 For the Year EThj1 31& Marth 2023 tr* Compary was tItI&l to exunptkn unts seckn 477 of the Companies Act 21x16. Trustees have requir1 the C(xnpany to obtsin an audit of its accounts for the year in question in acCOrdar with 476. The Trust knOwledge their resp)nsibilty for.. (i) Ensuring the Company keeps accountiNJ records ccKnply with 5tion 386; and (li) Preparing accounts which give a true and fair vie•V of the state of affairs of the Company as at the end of its finanaal year, and of profft and loss ts the finan(ial year in c(xdan wlth Secti 393, and which othenvi comtAy wtth the r4uirements of the COmpanS kt relating to accounts, 9) far as applicable to the Company. These accounts have been prepared in accordan with the p)rovi&ons applicable to companies biect to small compani& regirne. These Accounts were appnhEI by knrd (A Trust (m the 26th Septwnber 2023 arnl SI91 on its behalf ty: Ross Erlam Company No. 02056 (ErrfJlarKI & Wales) NAN R THE YEAR EN The principal accountiThJ rKAldes adLP1, aThJ of tstimation uncatsinty in the preparation of the financial Statem are as folkrAs: Charibes: Statement of Reccffnn pr&t1 apylicable to atreS Fryaring their accounts In accordarKe wtth the Finanaal Rep(xtirvJ Stsndard athtsble in the UK a1 Republic of [land (FRS 102) {etfecti¥e 1st Januay 2015 - ((hrities SORP (FRS 102)), and the C(xnpanies Att Assets arKI Liatilities are initialty rwni5al at Historical Cost or Transaction Value unless othefWiSe in the releRnt acayJntirKJ pcAILy te(S). Vduntsry income. as donati and grants are lThdud&l in irKowe Wh they are received. The income from fund rais1 ve))bJ$ Is shwi gr, with the a59xiatl costs indded in furKI raising e4ent& Resour ex are irKluded in the Statt rf nala1 Activi on an accn*l basis, indusive of any VAT whith cannot be r[1. Expenditure is directy attriiKtstAe to spth athitses has Ind in thtse cost 1.4 Fu The FurKls held by the Charity are unrestri 9al fvThts . these a funds vthich can be The iJ)arity is regi*ered VAT C¢dIng expaUre Ir1 VAT where 1.6 Heathrow T11-Care is a regi* CJ)arity and is exeW frc¥n Tax to the extent that its incLMne Is us&1 its charitsble ilbits4tS. The Charity has no fixed a55ets and q)trates frc#n oifKes m* available ty H&ithrow Alrport Limited. No thar9e is le4i&l on tre 0rity use of these facilities. The best estim* to this HEATHROW TRAVEL-CARE (contInu) R TrIE YEAR ENDED The Charity is incorkwyated as a company lirnited guarantee having share Glpttal and in accordan with the Menmndum of Aw)ati, the two rneM of the company are liable to contribute up to £1 eath in the eMt of the company being Wou1 up. The Charity is a publK bfft entrty. alt Rmtr$mt 1,362 4,930 6,641 13,437 6,292 H&ithrow Alrrt LCdOn Borough c* HilllrKJdon 169,883 107,689 277,608 131,938 130,000 211,879 555.180 473,817 Investment Income of £0 (2022: £0) arises fr(xn ffleS hekl in bank acrx)unts. ATEM (Continued) R THE YEAR ENDED MARIII 2 Salaries and National Inrae Pension Staff TrainirKJ Travel and Subsi* C£fftsulta Fees Assistan to aiwts 3S4.173 48,878 353,466 53,876 3,160 2,277 31,128 2,341 2,253 23,355 442,104 436,971 eman Offitr Equipff*nt suNles kcountsrry Fees 618 4,200 6,426 4,818 448,530 441,789 Stsff costs Incu&1 during the Year vfft: Wages & Salaries ial Security C(6ts 317.613 36,559 48,878 321,136 32,330 53,876 403,050 407,342 Average number cl empbiBJ li li TrAVEL (C(xrtinuql) R THE YEAR ENDED MARCH 2 16,958 13,239 Totsl Numljw SalarieslPensons Average 258 17 18 47 67 time equivalw Am Total PSlOnal Payrdl in 1st Iwil 2022 to 31st March 2023 £259,000 The reknm on the Fund in market VBlue tern for the Peri( to the 31st Marth 2023 is based on actual Fund r&ums as proVd try the P4lmini*ir4J Auttmyity. D*ails are as follo Athal Retsjms frcffi 1st Awil 2022 to the 31st Marth 2023 Trtal Returns from tst Awll 2022 to the 3tst Marth 2023 6.1% 6.1116 THE ATEM (cortin1) THE YEAR ENDED Period Ending Equibes 47% 30% 18% 5% 17% 5% We used the most r&ent asset ¥it to w ar#1 alkwj for irKkn where Ipqui, on eath asset catw)ry to determi the e5tim*d ¥Ait rf assets as at 31st 2023. Fin ncial Assu The defau financial aml75, as descri in the xcrmwanying rqrt are Summarj beltyy. Pension Inuease Rate (CPI) Salary Tncrease Rats Discount R* 2.95% 3.45% 4.75% 3.15% 3.45% 2.75% As at the dale the most valuatM)n, the thr*ion c* the EnNW furKlgJ liabilNies 15 24 years. Lrfe eX[trn 15 based ¢)n FurKfs I[rt*U T*•th imwoVwnts in line with the CM12021 model. with a IO% WgrtIng (rf 2021 (and 2020) dala, stsndard snKx)thitvJ (Sk7), Initi adj'Ustnt of 0.25% and a lorrfj 65 are 5ummari5ed Lth¥. 21.7 years 23.2 years 25.0 years 25.5 years * Fwres memb&s aged 45 a5 last fwmal d*. lrfe exp&tsncies are shovm bekMT: CM12020 TrJe1 assumirvj the currwrt rate of iMprovants have peaked arKI will to a long term ratr 1.5% pa CM12020 a55uming the current rate of ImwOts have peaked and will converge to a I rate 1.5% pa are diffuent to those used to vakE the Otligabrys in the Emph)y*s 0ing Posrtion. An alk)warKe irKI11 for fre to elect ts take 55% af the maxlmum a(klltM)nal tsx.free ca5 up to HMRC limit& (hanges in the Fair val d Plan DneI Net LhitMIty For Year 1 315t 2023. Net Asset I l*ti$ (Liabiltyl Faw Value rf Plan Assets psent Value of Fur1 L4*ilities pSent Value rf Unfur•JeAI Li*Jilitie5 1,171 1,171 (1,416) 1.416 L171 IA16 (245) 116 (116) Past SeNtt Cost (irKknllThJ cutsilnrJts) 116 (116) Intsrest Income on Plan Assets 33 (40) Totsl Plrt Inttrert (7) Totsl Defin•d Cost Awinls•d In Prnfft or (Lervxl to the 31st March 2023. oblat1(S Net (Liability)IAsset £(000) £(000) %ofPay 52 (52) (20.1%) £(0) Past Ser¥Ke Cost Induding Curtsilrnents Totsl Serv1 Cogt 52 (52) {20.l•h) Irterest Incoff* on Plan Assets 21.6% (20.10/0) 52 (52) T¢>tal Net irterest Cost 52 1.54b Total Induded In and Loss 104 (48) (18.6%) value is bas•J a woithl 1 Q59,rMxi. The contriiKrtK)rs pamd by the Employtr are set by the FurKI follwing an acbjarial valuation. For further detsils on the aprKoath adopted to set ccrtTibution rate5 for the Employw, *ase refer to the latest fla1 valuation retKYt FurKlirKJ Strategy StatemenL l estimate the Employ&s CDntri1xrti(W ftr the PerKxl to the 31st Mafth 2023 Thrfll be approximately £40,0). The atM)ve figu shId be treated as tstirnates and may need to be èjjusted to tske account of.. Any material events, sh as rtallMents. S&tIen w the discontinuarKe of the Employerfs pa0pati in the Fund; Any thaThJes to accountirKJ Any changes to the benefft or memLw c(Mtrilxrtion rates; andlor Any full fuThJin9 valuatic that may have be carri& out the bthalf. etsry amourt of the Projec costs the Peri(xl to the 31st Marth 2024 may be PA THR TRAVEL ATEME (ContiThJgJ) FRS102 does not ts]uire disdOsu of the of the results to the methcrtls and awmptions used. HOVr, it is rec0mmerrf best Fyactre that this InfOrrn is Induded and therefore shown in this reFxyL sen4tsth regardlThJ the W11paI awfflptK U5eAI to rnea1 the 9thune Ikbilities are set anges in Assumption5 at 315t March 2023: 0.1% derrease in Real DiThint Rate l year incwse in memter life expthiKry 0.1% Inrnse in the Salary Increase Rate 0.1% Intrease In the Increase Rate (CP 25 43 4% 2% 24 The ylnopal donograph assumk*1 ts the Iwity assumpkni (* manber life expertancy). For sensibvrty purp)ses, we estimate that a ITh year irKSe in lrfe expectsncy would approximatdy increase the Empl$ Bent Obllgatir by arwnd 3.5%. In practice the actual cost of a one year increase in the expects ¥11 dwd the strutture of the rerfised rf Impr4n to survival rates wthninanty ap* at youryer or oldw ages). The pyovthl fyures can be we(1 b) estimate the Impxt of adopting diffwalt finandal assumptions (e9 an Emptytr cortsiknry altemth accountiNJ assumpti or to help an Employer compSete an ESFA acc(MJnts reknm). furthtr detsils on this, plea* rder to the accompanying accountiThJ covtrirwj rwL In order to quantify the impact of a charoe in the financial assumpti5 used, we have calculated arKI compar&Y the value of tr* liabilibes at the acccunting date on varyiThJ bases. The approach taken is consistert with that adopt& to deThE the accounting figures provided in this rew¢ based on the profile (average manbtr ag4 rdlrrnt ag* dc) of the Employ a5 at the date of the ffM)st r1t valuati(m. TRAVEL (C(Mrtinwl) io. Balae as at 1st A.1 Balan as at 31st March ra rnOI Fund 274,291 568.617 (472,512) 370,396