HEATHROW T
b Guarantee
No: 020560
ri
REPOR
FINAN
ATEMEN
MAR
24
Report of the Trustees
Ito4
Indep￿d￿lt Examlnerfs Rqyjt
stataw)t of Financial Activthes
Summary Income and Exp￿dilure Accourt
Balance Sheet
Notes to the Flnandal Ststements
91D18

HEATHROW TRAVELURE
REPORT OF THE TRusfEES
FOR ThE YEAR ENDED 31ST MARCH 2024
Re rt of the TTh￿$ for the Year Efflded 31st March 2024
The Trustees are pleased to present thdr Annual Report ts)gether wth the Ftnanclal StstWn￿ts of the
arity for the Year Enda 3tst March 2024 whlch are also prepar￿ to meet the requirements for a
Directixg Report and Accounts for Companies Act purposes.
The Financial Ststements comply wth the Charlties Art 2011, the Ccwnpanies Act 2006, the Memorandum &
artldes of Assoclatlon, and Account & Reportrng by Charities: Statement of R￿l￿mende￿ Practice
appllcable to Charrfaas weparing their Accounts in aC£Ordan￿ with the Financial Rewting Stsrxlard
applicabk in the UK and Republic of Iretand (FRS 102) (effecOve tst January 2015).
Reference and Admlnlstrntlve D•talls
The Dlrectors of the charltsble company (the Charlty) are its Tnts for the purrM)se of Charity law.
The Trustees are pn)pos&J and appointed by the Board of Trustees at their medings throug1￿t the year
or othernlse at the Annual General meetlng.
Trustee5lDlrect(Ks:
Steve Porther
R055 Erlam
Simon Trevor Eastbum
Paul Davtd Stonehouse
Jeanette Truel¢)ve
Rhiannon Jane DO￿rIall
Ross Ertam
Room 142, North Wing
Temiinal 3, Heathrow Atrpxt
Hounslow
middle￿ TW6 IBZ
Rsjister￿l Nuffthr..
02056086
Accountsnts:
Cole & Co tharter& kcountsnts
4(10 Harrow Road
London V19 2HU
Banktrs:
Bardays Bank Ptc
Cardinal Poin¢ FkathrcAY Arpcrt
H￿jnS1OW
Mlddlesex TW6 2RA

HEATHROW TrAVEL.C4RE
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31ST MARCH 2024
H&ithrow Travel Care c(¥rtinues to have 1400 contscts vutnerable p8Jple annually. Our referrals are
tsken fr(¥n a varfety of agencles induding Poll￿, s￿rty, mental health teams, k)cal aLrthoritles, Brrfath
Embassi85 worldwide, various charltles, various airp¥xt t&ims ar￿ sdf-referrals. l>Jr work consi*s of the
following 3 main areas..
Cxisis ScKlal Worf(:
De￿¥￿tee5, those werienring Memtal Health concerns, homele55ness, desiitutson, repatriations, older
vulnerable people, chlld and famlly conwns, those with learnlng dlsabllltles, victims of intemet
scam5, forced marriages, vlctlms of domestlc Vrolen￿. We work with anyone in crisis or di5tre55
Heathrow.
Emergency Planning - for Inltlal Humanitsrian A￿lS￿n￿ avnear H&ithrow.'
We continue to coordinatelprovide Initial Humanrfrarian Asslstance fdlowlng any major incident or
disaster affecting the Heathrow area. We traln and co CCL)rdinate the team, alrport chaplains and 30
vdunt*r4 to be prepared for any major inadent at LHIi Monthly desktops tralnlngs provlded to
airport and airliie staff throughout 2023124.
Social Wtxk AdvKe to the Foreign and Commonwealth offi￿ (F.C.O.)
Pathership projert with Centrol Govt providing siKial work adv1￿ to con￿lar casewoTkets In London
a￿1 Embassies abroad to assist reLurning Vulnerab￿ Brilish nati￿alS. Supportlng and advising on
1655 UK Nationals in dlstress abroad.
Travel Care are 5UPPOrted financial￿ by our three fijnders: Heathrow Airport Ltd (FL4L), the London
Bcffough of HIllI￿dOn and the Foreign, Commonwealth & Development Offi￿.
Prunlses
We are estsblished in our Lurrent prsnlses In Terminal 3 arrivals, provided by HAL
Governln
The organis*ron is a dwritable comFony Ilmlted by guarart￿, fomed in 1972 arml is ests1AlSh￿ under
our Artlde5 of a551yiatson.
Travel ca￿ has a tx)ard of trustees who meet quarterty and who are reS￿nsIble for the stratsgic
dir&tion and policy of the charty. At present there are 6 trustees from a variety of professional
backgrounds appr(yriats to the running of the charty.
The objective5 of the charity are to assist and advEe anyfme In crlsls or dlstress at Heathrow. This
indudes the various cliert groups Ils&￿ above under'demand..

PA
HEATHROW TRAVEL<A
REPORT
FTHETR
(Continued)
Achlevem•ts and Perforniance
We achi￿ed many successful dient outcomes thn)ughout the year, including many comtAex cases
Involvlng mentsl health admIS￿OnS to h¢)5pitals for the vulnerable clients. Our work %Mth vulnerable
arrivals at Heathrow as result of the Sudanese and Ukrainian conflicts has been a huge success.
Inltlatfves for 202
Full scale night-ume em￿gencY exer¢i* to tast our emergency res￿rtse. We VAII contlnue to try arKI
engage wth hard-to-reach dknt groups. As part of our multl-agency wothng we are Increagng our
training and presattakns to our many partner agencie&
Detslls of trustee recrultmen¢ format (Y trustee m￿￿n95 and AGM'S are ILtsJ In the d￿rty Arbdes of
Asgxiatton. To provide a mlnlnJJm of 20 overliew training sts5ions to Yeam Heathrovl o￿leagUeS,
multtpie vlsits from UK Embasges from abroad, large xale Frrc meeting many Non-UK London
embassies, provide talks to various unl￿sity social work teams, provlde I day strjdent shadowlng
placements.
nduLtlon
All trustees a￿ famlliar with the pract￿al of the tharity and ktv)w the sLaff team wetl. have
direct contsrt wth the team when visitsng the Travel Care Offi￿ and durfng annual team d
Prlnd l Fun
In
Heathrow Airp)rt Ltd, Lond￿ Borough of Hlllingdon and Forelgn & c￿M￿￿weath offi￿ Con￿nUe to be
our main fvnding 9)urces
Sufficient owatlng cc6ts Ilsted as restrlcted reserve5 enable us to have enough reserves to q)erate in the
event of losing a major stream of funding, allowing Frrc time to identify, arrange and gentsate an
a￿rnative fundirwJ stream. To c£a* aCtI￿ty wfth loss of fundlng Is not constder&J feaslble Sin￿ we are
an embe(kled part of Heathro￿$ emergency re4￿se process - he additional reserrfes will enable us to
uphold our resFMJnslbilities to our stsktholders at one of the world's busiest international airports, whilst
tying to seojre altemative funding sh￿Id thls sthakn arls&
Rlsk Mana
ent
The trust￿ and Servi￿ manager have reviewed the major risks to vthkh the charlty are ex[￿￿￿.
Procedures are in Pla￿ to ensure Complian￿ w￿th health and safety of stsff and clients to Travel Care. Al
procedures are regularty rev6&ved to en￿￿ we meet the high stsndards of the tharity.

HEATHROW TRAVEL
REPORT OF THE TRusfEES (Continued)
R THE Y64R ENDED 315r MAR
24
"billtleg In relatlon
the Hnandal Ststements
The Charity trustees (who are also the directors of Heathrow TraveKare for the purposes of the
company law) are re5r￿)￿iLle for preparing a trusteg annual rewt and finandal statemats in
accordan￿ wlth applicable law ar￿ Unl￿1 Ktngdom kcounttrwJ Stsndords (United King(kni G￿erallY
Accepted AccourtlThJ PraGtice).
Ccmnpany law requlres the Charlty trustee5 to prepare financial statement for each year whith give a true
and fair view of the state of affairs of the charitable company and of the incomlng resour￿ and
application of r￿Qur*S Induding the I￿orne and the eXpend[￿re, of the charitsble group for that ￿lOd.
In preparlng the finan￿ statwnents, the trustees are rquird to:
Select suitable accountSng wlicies and then apply them consi*ently'
Observe the methods and prinaple in Charities SORP;
Make judgana)ts and esdmate that are rea￿nable and wudent;
state whether applicable UK aceountlng standards have been ftjllowed, subject to any mtsl
departsjres disclosed and eJplained in the financial Statem￿￿.
Prepare the financlal ststements on the going concern basis unless it is inapproprrate to prewme that
the Charity will Contin￿ In buslness.
The trustees are respongble for keep1￿j rryjer ar￿)untIng ￿ordS that di￿10Se ￿￿th reasonable
accuracy at any time the finanaal p￿tion of the Charity and to enable them to ensure that the flnan
Statern￿ts comply the companies Act 2006. They are also responsible for safeguarding the assets of
the Charfty and the group and herKe tsking the reagjnable steps for the Preventi￿ and detecbon of fraud
and other Irregular￿leS.
The trustee5 a￿ r&￿n￿ble for the rnaintenan￿ and integrty of the corporate ar#J financial infomation
induded on the charltable company website. Legislatlon in the Unlted Klngdom goveming the preparation
and dissemination of finanaal ststements may differ from legislatlon In ott￿r jurisdictions.
as to Dlsdosure
nt Examln
In so far as the Trustees are aware at the time of approwng our Trustees, Annual Report:
There is no relevant infmation, belng Informatlon needul by the Independent Examiner In
connectlon wtth preparing ttwr rertht, and
The Truth, hawng made er￿UIrieS of fellow Trust￿, hwe each tsken all steps that hqlshe Is
obliged to tske as a Trustee In order to make theMse￿e5 aware of any re1V￿nt infonnation and to
establish that the Independent Examiner is aware of that infom]ation.
This report has been p￿pared In accordan￿ wlth the special provlslons relating to companies subj'ect to
the small companles reglme wSthin Part 15 of the Comparmes Act 21)06.
Approved by the trustees on the tst AUg￿t 2024 and 9g￿￿1 on Its bthlf ty:
Ross Erlam

INDEPENDE￿ E¥AMINER'
REPORT TO THE TRusfEES OF
HEATHROW TrAVEL£4RE
R THE YEAR ENDED
MARCH 2024
I report on the flnandal statements of Heathrow Travel<are for the Year End￿ 31st Marth 2024 whith are
set out on Pages 6 to 18.
nslblll
mln
The trustees (who are also the directors of the ccffipany for the pUr￿Se5 of company law) are respcA)sible ft
the preparauon of the accounts. The tnjstees consder that an audit is not requlred for thls year under section
14412) of the i￿a￿￿e5 Att 2011 (the 2011 Art) and is elwjible for an Independent examlnation.
gross Inc(Mne dld not exceed £500,000 and l am qualified to undertake the examlnatlon by being a qualified
memb¥ of The InSti￿te of awrtered Ac£oU￿nts in England & Wales.
Havlr¥J satisfied myself that thanty is not subject to audit under company law and is eligible for
independert examln*Son, it is my respmsibilty to:
eyamine the financlal ststements under s&tion 145 of the 2011 Act:
follow the pre<edu￿S laid down in the generdl DlrKdons gNen the I￿arfty Commlsslon (urKI
section 145(5)(b) of the 2011 ACL" and
state whether particular matth have come to my atkntion.
sofIn
Examln
My exarnination was carried out in accordan￿ wlth the general Directkns gwi by the Charity Commissk)n.
An examination indudes a revlew of the accounting ￿CordS kept by the Charity and a comparison of the
accounts pr&￿ted those rerords. It also Ir￿lU1*S consideratk)n of any unusual items or disdosures Sn
the acrounts, and seeking expknation5 from you as trustees ￿n￿rnIng any wch matters. The procedures
undertaken do not provlde all the eviden￿ that wouhl be re￿l￿d in ￿ audit and ConseqU￿ty no oplnlon is
gr￿7 as to whethw accourts pre￿t a and fair vieYK and the report is limital to those matters set
out in the statement below.
Inde
t Exarnlnerfs Stat•m
In connection wth my examination, no matter has come to my attenti(￿.
(l) Which gives me rehsonoble cause to ts￿le￿ thaL in any material rBspe¢ the r4uirements:
to keep accounting rÉrords In accordano with s￿tk)n 386 of the ￿mp￿leS Act 2006 and
to wepare accounts which a￿ord with the acrnuntlng records, comply wth the accountlng
requ1￿mertS of seLllon 396 of the Companies Act 2006 and with the methods and prinaple5 of
statement of RKommendaJ Prattl￿. P£countlThJ and Ryirting by tharities
have nrt been met or
(2) to which, in my opinm, attentlon should be drawn in order to ￿able a proper undethding of
accounts to be r&iched
400 Harrim Road
LON
Mlthael B&tlnson F
For and on behalf of:
Cole & Co Charter￿1 ACCI￿ntants
arKI RerKJrtlng Accountsnts
ND

HEATHROW TRAVEL-C4RE
F FINA
IIAL4¥-
Donations and Legacles
Inc(Kne from Charitable P£tlvlttes
Investsnert incoff
7,205
528,181
13,437
555,180
535,3B6
568,617
Expendlture on Charitsble ktivibe5
(4H,123)
(23.184)
(448,530)
(23,982)
(467,307)
{472,S12)
in Funds
68,079
96,105
Totsl Funds Browht R)rward
370,396
Totsl Funds Carrfed Forward
438,475
96,105
The Statanent of ￿nanCIal ktivlties IndLMles all galns and los￿ recognised in the year.
All Income and Exp￿(¥tUre derived from continuirKJ actiwties.

HEATHR
VEL-
MMARY INCOME & EXPEN0￿uRE A
UTr
R ThE YEAR ENDED
nra5tricte4J Funds
2024
Donatk)ns a￿1 Legacies
7,205
13,437
tncome from Charitsble Actiwties
Grants.,
Heathrow ￿T￿)rt Limited
London Borough of HillirKJdon
Foreign and Commonweaith Offi
185,512
134,872
207,797
169,883
107,689
277,608
528,181
555,180
Invesirnent Inojme
TOTAL INCOM
535,386
568fi17
EXPENDrnIRE
Charitsble Activi
S￿arles and National Insuran
346,986
49,530
354,173
48,878
staff Tralnl
Trnvel and SubslstaKe
Consultancy Fee5
Assistan￿ to aients
offi￿ Equipment arKI sU￿les
untaKy Fees
3,045
2,727
35,890
1,385
4,560
3,160
2,277
31,128
1,986
444,123
23,184
448,530
23,982
AL EXPEND
(467,307)
(4n,512)
68,079
96,105
All Income aTrJ E¥p￿di￿re dwived from continuing acbvibes

PAGE
HEATHR
W TRAVEL.CARE
AT
MAR
2024
NOTE
24
RRENT ASSETS
Debtors
Cath at Bank and In Harnl
89,872
364,8H
387,354
454,716
387,354
CREDITORS: Amounts falllng due wthln One Year
{16,241)
(16.958)
438,475
370,396
THE FUNDS OF THE CHARrrY
Unre*rfcted I￿oMe FurKIs
io
438,475
370,396
For the Year Ended 31st March 2024 the Compary VRS entlued to exempkn under sthn 477 of the
Companies Act 2006. No TriL5tees have required the Compary to obtsln an audlt of Its accounts for the
year in question In a¢￿)rdan￿ vAth sertion 476. The Truts ackn￿￿ge their resN)n9bilty for: (i)
Ensuring the Company keeps a(roUnti￿ reLY)rds whith comply with SertK￿ 386; a￿1 (li) P￿parIng
accounts vthich give a true and fair view of the state of affairs of the Company as at the end of its financial
year, and of Its p￿fft and loss for the flnanaal year in accordance vrith secbon 393, and which otheJw
COM￿ with the requirements of the Companies Act relating to ac£ounts, so far as appliGible to the
Company. These accounts have Lw prepared In aCc￿dan￿ wtth the provisions applicable to cijmponies
sub]'eLt to small companles. regime.
These Accounts were approved by the Board of Trust￿$ on the 1st Augu* 2024 and signed on its behalf
Ross Etlam
Company No. 02056086 (England & Wale5)

PA
EATH
TRAVEL-
THE FINAN(JAL STATEMEMrs
RTHE
MARCH 2
24
nti
principal accounting poliaes adoptedi judwents and key of tstimation uncertainty in
the preParatk￿ of the finandal ststements are as follows:
1.1 Basis of Pre
ration
Flnandal Statements have b￿n prepared in accordan￿ wth Acajunting and Rwrting by
arltjes.. Statement of Recomended Practice applicable to Charities p￿parIng their accounts
in aCcOrda￿e with the Financial Repordng Standard applicable in the UK and Republic of ]￿land
(FRS 102) (effecti￿ 1st January 2015 - (tharities S(XiP (FRS 102)), and the Companles kt
2￿16.
Assets and Llabtltties are initi31ty recognlsed at Historiol Cost or Tt3nsactlon Value unless
othaivfse stated in the relevant acrounting policy note(s).
1,2 ID£QtDR
Voluntsry income, suth as donations and grBnts are induded in income are ￿1V&.
Income from fund ralslng venture5 is Sh￿ gross, with the associatejj costs induded in
fund raising events.
iture
Resources expended are Incluthd in the Stateffl￿t of Flnanaal P£Lrvities on an accrual basls,
indusive of any VAT whlch cannot be recovered.
Expenditure vthKti 15 dIr￿dY attributable to spedfk ￿[V￿leS has been Induded In these cost
categories.
1.4 Fund Stnjcture
The Funds hekl by the Charty are Unrestricted ger￿01 funds - these are fvnds whith can be
used in accordan￿ with the charrf(able obiectlve5 at the discretion of the trustees.
1.5 YAT
The Charity is not registered for VAT and Kccydingly expwKlitwe indudes VAT where
appropriate.
1.6 Taxatlo
Heathrow Travel.Care is a registered Charty and is exempt from Q￿p￿at1[￿ Tax to the extert
that tts Income Is used for its diaritable obJ￿lIVe￿
The Charfty has no fixed assets arKI operates from offices made avallable by Heathrow Alr￿t
Limited. No d￿rge ts I￿￿ed on the Charty use of these faalities. The best estimats to this
cost Is induded withln the stateM￿t of Flnanclal Actlv5Ue5 as a donation.

H84THROW TRA
(Continued)
FOR THE YEAR ENDED
24
The Charity is incorpora￿1 as a cxjmpany limiteA by guarantee havlr¥J no share ca￿1 and In
acrordarKE with the Memorandum of Association, the two m￿b&S of the company are Ilable to
contributs up to £1 eath in the event of the ojmpany being wourKI up.
The Charity 15 a public benefft entity.
2024
2023
cli&￿ ReiMbur￿ent
Other
3,861
6,641
7,205
13,437
e from Charltable Actmtles
Heathrow Alrport
London Borwgh of Hillingdc
Foreign arKi Commonwealth (Xfice
185,512
134,872
207,797
169,883
107,689
277,608
528,181
555,180
Investment Income of £0 (2023: £0) from rrthles held In bank a(rounts.

EATHROW
E FINAN
ATEMENTS (Continued)
Unr
"cted Fur￿$
e Acbv
Salaries artd National tnsurance
Pensk)n
Stsff Training
Travel and Subslsten
Consultancy Fees
A54Stan￿ to Cllents
346,986
49,53Q
354,173
48,878
3,045
2,727
35,890
3,160
2,277
31,128
438.178
442,104
Governan￿ Costs
Office Equipment and Supplies
AccountarKy Fees
1,385
4,560
5,945
6.426
444,123
+18,530
Trustees and Em
Staff costs Incurred durlng the Year were:
Wages & Salaries
Srfial Security Cos15
p￿s1On costs
315,023
31,963
49,530
317,614
36,559
48,878
396,516
403,051
Averdge number of pers￿$ employej
li
li

HEATHR
W TRAVEL-CJRE
ThE FIW4
STATEMENTS (Cnntinued)
024
Sundry Credit(Ys and Accrued EXp￿se5
16,241
16,958
Totsl
Salari￿pens￿)r
Average
Number
31.03.20
m￿nb￿l Ststistics
258
17
18
Deferred Pensioners
Pensioners
Deferred Peng(NWs indude undecided leavers arKI fro￿1 refund& sala￿ are actual, not ful
time equivalent
Awmed Total P￿￿onable Payroll
bas&J on Information
tst Awil 2023 b) 31st March 2024
£234,(
Invesbnent Rthms
The retum on the Fund in marlrt value temis for the Perlod to the 31st Marth 2024 is based
attual Fund retums as prDvlded by the Admlnlsterlng Authorlty. Detalls are as follows.
Actual R￿rn5 from 1st Aprll 2023 to the 31st March 2024
Total Returns from 1st Aprll 2023 to the 3tst Marth 2024
11.3%
11.3 %

HEATHROW TRAVEL.
TO THE FINthCIAL STATEMENTS (Continued)
P•nslon Scheme (Q)ntin￿d)
Perlod Endlng
1.03.2024
31.03.20
as è perca￿a ￿ Total Han Ass#s
Equibe5
Born15
27%
14%
30%
5%
We have useA the most recent asset split provldgj to us arKI al￿W￿ for Index returns. wh￿e requlred, on
exh a55et catewry to determlne the e5tlmated split of assets as at 31st March 2024.
nancial Assum
ion5
Trt (lefault fina￿131 a55umFlions. as dexrd)ed In the aCcompan￿ng rem a￿ summars&l below.
31.03.2024
1.03.
Pen￿on Inuease Rate (CP[)
Salary Increase Rate
Discount Rats
2.75%
3.25%
4.85%
2.95%
3.45%
4.75%
s at the date of the nKJst recent valuation, the duratK*n of the Employ¥s funded liabilibes is 24 years.
Mortall
Life expeLtsnry is based on the Fund's Vitacurves with imFyov￿ents In Ilne wth the Q*lI 2021 mojd, with
IO% weighting of 2021 (and 2020) dats, stsndard %noothing (Sk7), initial adj'usbnent of 0.25% and a long
temi rate of lmproveff￿nt of 1.5% pa. Based on these awmption5, the average future life expettancies at
age 65 are Summari$￿ below.
Current PensK)ner5
Future Pensioners.
21.7 y
23.2 yws
21.8 years
233 years
* ￿gureS assume members aged 45 as at the last forn￿1 valuation date.
Hi#oric Motsli
Life expttkncies for the prior period a￿ also basaj on the Funds VltaCuNs The allOwar￿ for future
life eXp￿￿ncle$ are shown bdow:
Prospective Pensioner4
CM12Q20 ThKKlel a55uming the current rate cl
improvemerts have peaked and will convwge to
long temi rnte 1.5% pa
CM12020 model &suming the current ratr
improvanents have peak￿ and will Conv￿ to
lorvj terni rdte 1.5% pa
P163se note that the mortalty assumptions used to value Otdlgati(￿S in the Empknyer* a￿ng ￿tKIn
a￿ differ¥* to those used to value the Obligadons In the EM￿Oye￿S Openlng Posttlon.
An allowan￿15 Induded for futyre reliremerrt5 tD eleLt to take 55% of the wmum addiiional tsx-free cash
up to HMRC Ilml
All other demrKJraphic assumption5 are as per the k)test fundiffj valuafjon of the Employer.

NOTES TO THE FINANCLAL ￿rAT￿ENTS (Conunued)
FOR THE YEAR ENDED
MARCH 2024
Pension Schemé (Continued)
Char*Jes In the Falr Value of Pkin A* Defmeil Beneft (￿lIgation and Net ￿abIlity For the Year Ended 31st
Marth 2024.
NetA￿d I
[LiabllSty)
Obllgations
Fair Value of Pkn A55ets
esent Value of Funded UablI￿e$
Prttent Value of unful￿01 LiatilitiÈs
1,156
(1,078)
1,078
Openlng Posluon as at 3tst Marth 2023
156
1,078
servi￿ C05t.'
Current $8rvke Co
Past Se￿￿ Cost OndudirKJ cutsllments)
Effect of Setdements
47
(47)
47
(47)
Net Interestr.
Intere& IncC￿e on Plan Assets
Irft¥e5t Cost on Defimd C*lIga￿(
52
(52)
Total Plet Interest
52
Tot•1 Dofined Cost RoLvynlw•d In Profit or {Los8)
(43)
Parfaapanw Ccffltribubons
Empby Contrlbuvons
E5Ymoted Benefft5 Pald
Estimated Unfvnded Berfts Paid
Estimaw Contrilxrt￿ns In respect of Unfvnded Pakl
Effect of Business Combinabys and Di5posa15
17
17
(20)
(20)
Expectsd a0￿n9 P••lUon
253
1,174
aTrJes in ￿nanCIal AwmFthns
C*aThJes In Demographk Awmtthns
Otr*r Experfence
Retum ￿ Assets excluding amourts indLKled in Net Intsre5t
(85)
85
{290)
(76)
rnc4yne (OC
(76)
(52)
128
Fair Vlue of Hèn Assets
Present Value of Fund￿ Liabifibes
Present Va￿￿ of Unfurnlèj Lkbllltie
1?29
1,329
(1,122)
1,122
aoskng Posltlon ￿ at 31st 2024
207
* The curr&* ser¥ict C(15t kndudes an aHowaKe for adMI￿S￿2￿ c¢ 0.8% of ￿¥￿01.
** The unfvrKl&J liaL¥lbes comw* of £0 in rewt of LGPS vnfinded and EO In res￿ rl T&d*s' urffurthj

PAGE
HEATFROW TRAVEL.CIRE
THE FIr
ATEME
{ConVnu￿)
ch￿￿5 In the Falr ValuÈ c¢ Flan Assts Ddln&1 Ben￿t Obwth aThl Net LfaLIIty the Y￿r ETrJed 3ts1Marth 2023.
gatbjns l(Lwbility)
£(oo))
qoo))
1,171
(1,416}
qoco)
1,171
Falr val￿ (fj PLin A55ets
Present Value rf Llab]Iltyes
(1,416)
Op•niny Powlion •• •t ￿lIv￿ 1022
171
{IH16)
(245)
116
{116)
Past Sary1￿ Cn5t (l￿1r4 ojrtallments)
Totsl S•rvk* Cmt
116
(116)
Net IntEre5t
33
33
(40)
Intue5t Cc6t on Definèj 8enefft Obl$3aUon
33
17)
Totsl B•￿fft Ca#t RwiTrlMd In Pmfft or (LM•)
33
156
{123)
Pa￿pants, Conbflxrtlo
18
Esurnated Paid
Estlmated Unfunded Beneffts Pald
Esilmated Q)ntrttthcffi5 kn re5￿t of UnfunLW BerEIIts P*d
Effert of￿￿n￿$ ￿M￿n)￿on$ and CIS￿￿
(191
119)
¥252
(319)
Ownges In Flnandal Asgnmthns
Changs In D￿￿h*As9jrn￿l$
{7T2)
(21)
772
21
{290)
(106)
io
{106)
Re￿M ffi P&sets amunts In ￿ Irrt¥ESt
Totsl R•m••*r•M•its Rwnlg•d In othercomp￿hen￿￿ IKome (OCI)
(96)
{493)
397
Pair Vaknè of Pl• AssèL%
Fknt Value cl FuTrJed
Presert val￿ ￿ UnfuTrdeJ U*lltles
1,156
1,156
{1,078)
IX+78
**
Closhw Pokn as at31rt Mardb 2023
¥156
078
¥ Tr ￿r1ert Se￿ cr6t *Klthsan akwarKets¥(knknL￿r&kn exp￿￿85 of Q8% of pHyrdl.

NA
(thntin
Pen51on Scheme (Contlnued}
Anaty￿s of proithj amount to be tharyed to Oyating Profit for the Period to the 31st 2025.
(Liablllty)IAsset
£(000)
%ofPay
(41) (17.7%)
Obllgations
£(000)
41
£((￿0)
Projected Current Service Cost*
Past Service Cost Includlng Curtailments
Effect of Setuements
Total SeThlce Cost
41
(41) (17.7Qh)
Interest Income on Plan Assets
irterest Cost on Defined Benefit Obllgatlon
65
27.8%
(55) (23.5%)
55
Totsl Net Interast Cost
65
io
4.30/0
Total Indud•d In Profit and Lo
96
(31) (13A•)/o)
* The ojrrent 5ervke co* Indude5 an alk)wance for ￿lminiS11*icffl expen5e5 of 0.8% of payroll. The rTh)r*tsry
value is based on a prO￿ted payroll cf £234.000.
The contrlbuljons pald by the Employer are set by the Fund following an actuarial valuation. For
fvrther detsils on the approach adopted to set contrlbutlon rates for the Employer, please refer to
the lote5t formal ValUat￿n report arttl Funding Strategy Ststement.
I esumate the Employerfs Contributions for Period to the 31st March 2024 will be apprOxi￿*t￿Y
£44,000.
NOTES:
The at#we figures shDuld be treatsj as *imates and may need to be adjusted to tske accwnt of:
Any matsdal events, such as curta1lrnen￿ $￿ernents or ts dlsc0ntlnuan￿ of the Employees
participation In the Fund.
Any changes to accounting practices;
Any changes to the Scheme LEnefft or member contribution rates; andlor
Any full fundlng valuatlon that may have teen carrf8J out on the employels behalf.
The rnondary amount of the projected sayi￿ costs for the Period to the 31st Marth 2025 may be
adjusted to tske account of actual pensionable payroll the perlod.

VEL-
(Contlnued)
Penslon Scheme (Contlnwl)
SenS￿l¥lty Analysts
FRS102 does not require disdosuFe of the $w￿ltivIty of the results to the melhc%ls and assumpb'ons
used. However, tt Is r￿QMmende￿ best practte that this infijrmation is indUd￿l and therefore
shown in this report
The sensttivities regardlng the prlndpal aswfflptm￿5 to measure the xheme liabilities are set
out telow.
roximate % IrLTease to Appmximate McK)elary
Defln
Benefit Obli ation
Amount
Changes in Assumption5 at 31st Marth 2024:
0.1% decrease In Real Dlscount Rate
l year incr&ise in member life expectsncy
O.IOA increase in the Salary Incr&i* Rate
0.1% increa* in the Pension Increase Rate ((PI)
27
45
26
NOTES:
The prinapal demographic assumption Is the longevity assumpuon (le rnern￿r Ilfe expettancy).
For sen$￿Vity pUr￿se5, we estimate that a Lme year inuease in life exp￿ncY would
approxlmatety inuease the Empbyerfs Defined Benefft Obligati¢)n by around 3-5%. In practice the
attual cost of a one year Increase In the expectancy wll de￿d on the struoknre of the revised
assumption (ie rf improvements to survlval rates predomlnandy apply at younger or older age5).
The prowded ￿SItivity figures can be used to estimate the Impatt of adopung dlffewt finandal
assumptions (eg an Employer ¢ortsid8ing altwnalive a(xounting as9Jmptions or to help an
Employer compl* an ESFA accounts return). For fijrther detsils on this, pFease refer to the
accompanying accounting covwing report.
In order to quanufy the Impact of a change In the flnanclal a55umption5 used, VR have cakulate(I
and compared the value of the sd￿ne liabilitiÉs at the accountlng date on varying bases. The
approach tsken is consistent wlth that adopted to the accountirKJ figures provided in this
report, based ￿ the profile (average member ages, retirement ages, eic) of the Employer as at
the date of the most recent valuatlon.

HEATHROW TRAVEL-
ES TO THE FINANaAL
mE￿s (Con15nued)
ThE YEAR ENDED 31
10. An
Balano as at
1st Aprll
Balan￿ as at
3tst March
General Fund
370,396
535,386
(467,307)
438,475