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 aCcO￿ts of the ab ch￿ fthe Trusn lor the year ended Responslbllld¢s and A8 the charity mtstees of the TTtK5t. you for the prePar￿lon basis ol r•port ot the aecounts in accordance th the req￿reMents ol the cl￿tieS A 20U fft A￿. I reF4Jt in respect of my examinab.on of the Tnjsi's accounts carr￿d out )tter sectson 145 ol Ihe 20ll Act and in carying my examinab"on, I have lolbwe(I the aFvltsble Di1e¢DC￿s gNen by the Chanty Commioon der Sec1￿ 145t5Xbl ol the Act. Independent I have completed my examination. I C￿firn that no m￿11￿ mattets ha examinerfs statemert my attents￿ (other than that dLsdosed bekny.) in ¢onnect*Jn wtth the examin￿1￿ gr*s me cause to believe thai wi. any material theAdor Ihe aCcO￿ts not a¢ctNd ¥￿th the accounb"i¥J fecords Vlilh the examina￿1 ￿ which aiiention should be drawn in order to enable a proper undersianding ol the accounts to be ￿aChed. • Plthw deleie Ihe 11r￿dS in the tsrackets ilthey do Slgned: Ilth OcrotrRr 2022 October 20 Relevant prol•sslon qualifiC￿lOn(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