THE ROYAL AIR SQUADRON CHARITY
Registered Charity No 306024 REPORT OF THE TRUSTEES FOR 2022
The Royal Air Squadron Charity is now well established and focused on sponsoring post graduate flying and military sport parachuting qualifications during 2022 in the main. Current bursary examples include Fleet Air Arm Officers Association gliding and tug pilot sponsorship, glider and flexiwing microlight instructor qualifications and sports parachute team work-up. In the future it will include support for military QFI to civilian FI cross-over and wider aircraft handling courses. The charity continues development of the Sir John Thomson ‘Spirit of Aviation’ initiative in Bristol and South Gloucestershire and will contribute to competitive Royal Air Squadron Trophy and Memorial Sword competitions for school Combined Cadet Forces again.
Income. Bursaries are supported by investment income and donations, avoiding erosion of capital as much as possible. 2022 investment income and donations produced a total income of £42.8k, an increase of about 10% on the previous year. The entire increase came from the investment portfolio, managed by Cazenoves, while donations remained constant at £12.1k.
Disbursements. The amount spent on scholarships, charitable grants and other sponsorships increased from £5.8k to £14.3k.
Expenses . Expenses for the year increased from £14.0k to £16.0k. The biggest administrative expenses were Cazenove Capital Management fees and staffing costs for the part time General Manager of the ‘Spirit of Aviation’ initiative.
Very challenging conditions continue in the global economy. The Capital Reserves of Charity’s investment portfolio at the end of 2022 amounted to £1.1m, slightly down from £1.2m at the end of the prior year.
Royal Air Squadron Charity Statement of Financial Actvites for the year ended 31 December 2022
| 2022 £ Incoming Resources Voluntary Income: Donatons 12,100 Investment Income 30,415 Interest received 315 Sub-total Incoming Resources 42,830 CAPITAL SALES Share sales 208,222 Total Incoming Resources 251,052 Resources Expended FLYING SCHOLARSHIPS / SUPPORT John Cunningham fying scholarships 5,287 John Houlder Flying Scholarship 500 RAFFCA Aerobatc competton - Army Parachute Associaton 1,000 Oxfordshire Sport Flying 1,920 Sir John Thomson ‘Spirit of Aviaton’ 5,607 Pilot Engineering scholarships with UoH - FAAOA gliding scholarships - FAAOA NCO tug pilot ratng - 14,314 OTHER SPONSORSHIPS Ukraine Air Cadet exchange - DH Memorial Lecture - Sub-total Charitable Activities 14,314 EXPENSES Management fees – Cazenove Capital Management 8,680 JC Book – fees and expenses - JC Medals and awards – Bentley Priory - Statonery, gifs etc 50 Expenses of administraton 6,750 Trustee Indemnity Insurance 506 Sub-total Expenses 15,986 CAPITAL PURCHASES Share Purchases 219,413 Total Resources Expended 249,713 Net Incoming / (Outgoing) Resources c/fwd 1,339 |
2021 £ 12,150 26,398 83 38,631 306,618 345,249 - - - - - 5,836 - - - 5,836 - - 5,836 8,192 - - 37 5,267 512 14,008 314,779 334,623 10,626 |
|---|---|
Royal Air Squadron Charity Statement of Financial Activities for the year ended 31 December 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Net Incoming / (Outgoing) | Resources b/fwd | 1,339 | 10,626 | |
| Other recognised gains / (losses) | ||||
| Gain / (loss) on revaluaton of investments | (96,020) | 98,621 | ||
| Net movement in funds |
(94,681) | 109,247 | ||
| Reconciliaton of Funds | ||||
| Total funds brought forward |
1,223,658 | 1,114,411 | ||
| Total funds carried | forward |
1,128,977 | 1,223,658 | |
| The Geofrey de Havilland Flying Foundaton | ||||
| Balance Sheet as at | 31 December | 2022 | ||
| 2022 | 2021 | |||
| £ | £ |
£ | £ | |
| Fixed Assets | ||||
| Investments | 1,128,973 | 1,217,223 | ||
| 1,128,973 | 1,217,223 | |||
| Current Assets | ||||
| Cash at bank 4 |
6,435 | |||
| 4 | 6,435 | |||
| Net Current Assets | 4 |
6,435 | ||
| Net Assets | 1,128,977 | 1,223,658 | ||
| REPRESENTING | ||||
| Reserves | 1,128,977 | 1,223,658 | ||
| The accounts have been prepared on a Receipts and Payments basis. |
Analysis of 2022 Donatons
| Donor | Amount Preferred purpose |
|---|---|
| £ | |
| Philip Meeson | 10,000 Spirit of Aviaton |
| Christopher Sharples | 250 General |
| Richard Hubbard | 500 General |
| Gilbert Greenall | 1,000 General |
| Peter Fernandes | 250 General |
| Unatributed CAF donaton100 |
|
| Total | 12,100 |
Analysis of Reserves
| General Reserves Balance brought forward, 1 Jan Incomingless expended resources Revaluaton of portolio at year end Balance carried forward, 31 Dec |
2022 2021 £ £ 1,223,658 1,114,411 1,339 10,626 (96,020) 98,621 1,128,977 1,223,658 |
|---|---|
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Report to the trusieesl mtmbws Ot On ac¢ounts for thè y•ar 31si tiecembw 2021 Charity no 111 •ny) J6024 I reFQrt the trusw on my examnHtAin of the aCcOts of the ab ch fthe Trusn lor the year ended Responslbllld¢s and A8 the charity mtstees of the TTtK5t. you for the preParlon basis ol r•port ot the aecounts in accordance th the reqreMents ol the cltieS A 20U fft A. I reF4Jt in respect of my examinab.on of the Tnjsi's accounts carrd out )tter sectson 145 ol Ihe 20ll Act and in carying my examinab"on, I have lolbwe(I the aFvltsble Di1e¢DCs gNen by the Chanty Commioon der Sec1 145t5Xbl ol the Act. Independent I have completed my examination. I Cfirn that no m11 mattets ha examinerfs statemert my attents (other than that dLsdosed bekny.) in ¢onnectJn wtth the examin1 grs me cause to believe thai wi. any material theAdor Ihe aCcOts not a¢ctNd ¥th the accounb"i¥J fecords Vlilh the examina1 which aiiention should be drawn in order to enable a proper undersianding ol the accounts to be aChed. • Plthw deleie Ihe 11rdS in the tsrackets ilthey do Slgned: Ilth OcrotrRr 2022 October 20
Relevant prol•sslon qualifiClOn(S) or body (rf any): Address: Barton Manor. Barton E5fate. v)p1ngham. l* otwght P032 6LB Only compleie JI the examiner needs io highlight matter5 of concem (see CC32. Independeni examuiabon ol tharjty accoun th"rec¢ions and gLudance for examiners). IER
Gl¥e here briel details ol any iiems that the examiner wishes to disclose. IER O¢tober 2018