Oocuslgn Envelopè ID.. 4E0168ES-FC3F4839-B1B1-70570F337292 Charity registratlon number NIC 103900 (Northern Ireland) Company registration number N1632583 THEAIRAMBULANCE NORTHERN IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Do¢u5ign Envelope10.' 4E0168E&FC3F48394IB1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current finan¢lal year Unrestricted Unrestrictsd funds fund$ general designated 2025 2025 Restrlcted funds Total Total 2025 2025 2024 Notes Incomo and endoNvments from: Donations and18gaciès Charitable activities Merchandise income 4,528,187 73,333 4.601,520 4.205.834 16,276 16,276 9.807 Investments Other income 520.949 9,540 520,949 267,099 Total income 5,074,952 73,333 5.148,286 4,482,740 Expenditure on: Raising fvnds Charitable activilies 589.102 1,754,569 42,643 631,745 1.754,SS9 552,478 1.809,145 Totsl oxpenditure 2.343.661 42,643 2,386,304 2,361.623 Net Income ?,731.291 30,690 2,761,981 2,121,117 Transfers beleen funds 23 (2,464,086) 2,500.000 (36.914) Net movement in funds 10 267,205 2,500,000 (5,224) 2.761.981 2.121,117 Ra¢onciliation ot funds: Fund balances at 1 April 2024 5,707,830 7.300.000 5.224 13.013.054 10,891,937 Fund balances at 31 March 2025 5,975,035 9.800.000 15,775,035 13,013,054 The statement of financial activits'es includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 13-
Docu¥ign Envelope ID.. 4E016eE6-Fc3F483B1Bl-70sT0Fs37292 THE AIR AMBULANCE NORTHERN IRELAND STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prtor financial year Unrestricted Unrestricted fvnds funds general designated 2024 2024 Restricted funds Total 2024 2024 Note5 Income and endowments from: Donations and legacies Charitable activities Merchandise income 4,172,500 33.334 4.205.834 9.807 9.807 Investrnents 267,099 267.099 Total Income 4,449,406 33,334 4,482,740 Expondlturo on: Raising funds Charitable activities 524,368 1,809.145 28,110 552,478 1,809,145 Total oxpendlture 2,333,513 28,110 2,361,823 Net Income 2,115,893 5,224 2,121,117 Transfers beeen fvjnds 23 (1,991,349) 2,000,000 {8,651) Net movement In funds 10 124,544 2,000,000 13,427) 2.121,117 Reconclllatlon of funds: Fund balances at 1 April 2023 5,583,286 5,300.000 8,651 10,891,937 Fund balances at 31 March 2024 5,707,830 7,300,000 5,224 13,013,054 14-
Docusign Envelope ID.. 4E0168E6-FC3F4839-B1B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND BALANCE SHEET ASAT31 MARCH 2025 2026 2024 Notes Flxed assèts Tangible assets 14 1,368.279 60,840 Current assets Debtors Cash al bank and in hand 15 86,299 14441,832 38,260 13,036,818 14528,131 13,073,078 Creditors: amounts falling duo Wbthin one year 16 1111,375) 1120,8641 Net current assets 14,416,7S6 12,952.214 Total assets less current Ilabllltles 15,775,035 13,013,054 Thefunds of the charity Restricted income funds Unrestricted fiJnds- general Unrestricted funds- designated 19 21 20 5,224 5,707,830 7,300,000 6,975,035 9,800,000 15,775,035 13.013,054 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financAal statements were approved by the trustees on 18 December 2025 dtr. ILty IAbL D37FV3F5F2B54CI_. 7SF52YBalÉUDA ¢442848AF1Qi488 Dr David Mcmanus (Chairl Trustee Mr lan Crowe, MBE Ivice Chairl Trustee Mr Mark Beattie (Vice Chairl Trustee Company registration number N1632583 (Northern Ireland) 15-
Docusign Envelop& ID.. 4E0188E6-FC3F483WB1B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 27 2,188,911 1.914,216 Investfng activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received 11,314,846) (36,771) 10,000 520,949 267,099 Net cash (used inllgoneratod from Investlng activities 1783,897) 230,328 Net cash generated from fflnan¢lng actSvltles Net increase In cash and cash equlvalents 1,400,014 2,144,544 Cash and cash equivalents at beginning of year 13.036.818 10,892,274 Cash and cash equivalents at end of year 14,441,832 13.036,818 16-
Docuslgn Envelope10-. 4E0168E6.FC3F4839-81B1-7057DF337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Charlty inforniation The Air Ambulance Northern Ireland is a privale Company limited by guarantee incorporated in Northern Ireland. The registered office Is 94B Halftown Road, Lisbum, BT27 5RF. 1.1 Basis of preparatlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, vlhich is the functional currency of the charity. Monetary amounts in th8S8 financial statements are rounded to the nearest £. The financial statements have been prepared under the histarical cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng concern At th& time of approving the financial statements, the trustees have a reasonable expectation that the charty has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going conc8rn basls of accounllng in preparing the financial statements. 1.3 Charitable funds Unrestricted funds a avai18ble for use al the dISction of the trustees in furtherance of their chaTltable objectives. Designated fvnds comprise fijnds which have been set aside at the discretion ol the trustees for specific purposes. The purposes and use$ of the designated funds are set out in the notes to the financial statéments. Restricted funds aré subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in Ihe notes to the financial Statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured rellably, and it is probable that income will be received. Cash donatlons are recognised on receipt. other donations are recognised once the charlty has been notified of the donation, unless perforrnan conditions require deferral of the amounl. Income tax recoverable in felalion to donations received under GfftAid or deeds of covenant is recognised at the time of the donation. Legaci8s are recognised on recèipt or otherwise if the charity has been notified of an impending dislribution. the amount is kn¢)wn, and receipt is expected. If the amount is not known, the legacy is treated as a nlingent asset. 1.6 Exponditur8 Expenditure is recognised once there is a legal or constructive obligation to make g payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a Cost against the adivty for which the expenditure was incurred. Costs of raising funds comprlse the cost associated with generating voluntary donations through community and events and corporate income and their assoc¢ated support Costs. 17-
Docusign Envelope ID.. 4E0168E6.FC3F4839-B1B1-70570F337292 THE AIRAMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles {Continued) Expenditure on ¢hari18ble activities includes the costs of services undertaken to further the purposes of the charity and their associated support costs. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel. payroll and governance costs which support the charity's activities. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequentjy measured at cost or valuation. net of depreciation and any impairment losse$. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases-. Plant and machinery Fixtures, fittings and equlpment IT equipment Motor vehicles 200A per annum straight line 20% per annum str8ight line 200A per annum - straight line 200A per annum - straight line The gain or loss arising on the disposal of an asset is determined as the difference bebNeen the sale proceed5 and the carrying value of the asset, and is recognised in the siatement of financial activities. 1.7 Impalrment of flxed assets At each reporting end date, the charity reviews the ¢arrying amountg of its tangible assets to detemiine ether there 1$ any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimaled in order to determine the exient of the impairment loss lif any). 1.8 Cash and cash oquivalonts Cash and cash equivalents include cash in hand, deposits held at call witr banks, other short-tèmi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown vthin borrowings in current liabilities. 1.9 Finan¢lal Instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its finanual instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provlslons of the instrument. Financial ass8ts and liabilities aré offset, with the net amounts presented in the financial statemènts. when there is a legally enforceable ri9hl to set off the recognised amounts and there is an intention lo settle on a net basis or ta realise the asset and settle the liability simultaneously. Basic financlal assgts Basic financial assets. which include debtors and cash and bank balances, are initialty m8asured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 18
Docusign Envelope ID.. 4E0168E6-FC3F4839-B1B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢countlng policies Icontinued) Bas1¢ financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interesL Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently caryied at amortised cost. using the effective interest rale method. Trade cr8dltors are obligations to pay for goods or servicés that have been acquir8d in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment 15 due within one year or less. If not, they are presentéd as non-current liabilities. Trad8 creditors are recognised initially at transaction price and subsequently measured at amortlsed cost using the effective Interest method. Derecognition of flnanclal Ilablllties Financial liabilities are derecognised when the chartys contractual obligations expire or are discharged or cance116d. 1.10 Taxation The company is a charity and is recognised as $u¢h by HM Revenue & Customs under the charity tax reference N100454. As a result, there is no liability to taxalion on any of ils income. 1.11 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination b8n8fits are recognised immediately as an expense when the charity is demonstrably MmItted to terminate the employment of an employee or to provide termination benefits. 1.12 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expens8 as they fall due. Crltlcal a¢countlng estlmates and judgernents In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hislorlcal experience and other factors that are considered to be relevant. Actual results may drffer from these estimates. The estlmates and underlying assumptions are reviewed on an ongoing basis. Revislons to accounting estirnates arè recognised in the period in which the estimate Is revised where the revision affects only that period, or in the period of the revision and future periods vthere the revision affects both current and future periods. Income from donations and legacios Unrestrictfrd Restrlcted funds funds 2025 2025 Total Unrostrlcted Re5trlcted funds funds 2024 2024 Total 2025 2024 Don8tions and legacies 4,628,187 73,333 4,801,520 4,172,500 33.334 4,205,834 19-
t)ocusign Env8lope10'. 4E0168E6.FC3F4839-81B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charltable activities Unrestricted funds 2025 Unrestrfcted funds 2024 Merchandisa income Merchandise income 16,276 9,807 Income from Investmonts Unrestricted UnTe5tricted funds funds 2025 2024 Interest receivable 620,949 267,099 Other incorne Unrestricted Unrestrlcted funds funds 2026 2024 Net g8in on disposal of tangible fixèd assets 9.540 Expendlture on raising funds Unrestricted Restricted funds lunds 202S 2025 Total Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Fundralslng and marketing Fundraising and associated activities Support costs 359,632 229,470 42.643 402,275 229,470 314,563 209,805 28,110 342,673 209,805 589,102 42,643 631,746 524,368 28.110 552,478 -20-
Docusrgn Envelope ID.. 4E0168E6-FC3F483&B1B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlturo on charitsble activilies 2025 2024 Dlrect costs Provision of HEMS setvlce Equipment CQ8ts 1,482,423 13,840 1,569,723 5,937 1.496,263 1,575.660 Share of support and govornance costs (see note 9) Support Govemance 229,469 28,827 209.805 23,680 1,764,659 1,809,145 Analysis by fund Unrestricted funds - general 1,754,559 1,809,145 Support Costs allocated to activities 2025 2024 Head Offic8 & Governance costs Depreciation 470,820 16,946 426,021 17,269 487,766 443,290 Analysed between: Fundraising Provlslon of HEMS service 229,470 258,296 209,805 233,485 487,766 443,290 SuppDrt and governance costs are allocated to fundraising and charitable aolivilies by reference to time spent by staff on each activity. 10 Net movemgnt in funds 2026 2024 The net movement in funds is stated after chargingl{crediting)'. Fees payable for the audit of the charity's finanual statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 3,600 16,946 19,540) 3.600 17,269 11 Trustees None of the trustees (or any persons connected with them} received any remuneration or benefits from the charity during the year. 21
Docusign Enveiape ID.. 4E0168E6-FC3F483941B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employees The average monthly number of ernployees during the year was.. 2025 Nurnber 2024 Number 12 10 Employment costs 2025 2024 Wages and salari85 Social security costs Other pension costs 374.445 38,773 41.793 336,618 28.701 41,437 465,011 406,756 The were no employees whose annual remuneration was more than £60,DOO. Remuneratlon of key management personnel The remuneration of key management personnel was as foll¢)WS'. 2025 2024 Aggregate compensatlon 153,410 152,351 13 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or $eclion 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. -22-
Docusign Envelope ID.. 4EO168E6-Fc3F483B1Bl-7O57oF337292 THE AIRAMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 14 Tangible flxed assets Assets under OrtruCtion Plant and rnachinery Fixtures. IT equipment fittings and equKpment Motor vehicks Tolal Cost At 1 ApTiI 2024 Additions DisP05als 28,436 157.320 4,229 13,377 28,510 30,200 229,333 1.314,846 (9.200) 1,282,107 (9,200) Al 31 March 2025 1.282.107 28,436 161,549 41.887 21,000 1,534.979 Depreciation and impairment At 1 April 2024 Depre¢iation charged in the year Eliminated in respect of disposals 6,531 144.751 4,972 12,240 168.494 5,687 4,345 2,714 4,200 16,946 18.740) 18,740) At 31 March 2025 12,218 149,096 7,686 7,700 176,700 Carrylng amount At 31 March 2025 1,282.107 16,218 12,453 34.201 13,300 1,358,279 At 31 March 2024 21,905 12.570 8,405 17,960 60.840 The charity paid a deposit on a new helicopter during the reporting period and this amount is capitslised under the heading Assets Under Construction. Delivery of the helicopler is expected in 2026. 15 Debtors 2025 2024 Amounts falllng due within one year: Other debtors Prepayments and accrued income 55,666 30.633 7,193 29,067 86,299 36,260 16 Creditors: amounts falling due within one year 2025 2024 Notes Deferred income Trade creditors Other creditors Accxuals 17 28,691 31.964 4,175 56,034 39.249 15,934 56,192 111,375 120.864 -23-
Docusigfi Envelope ID.. 4E0168E6-FC3F4839-B1B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Deferred income 2025 2024 Arising from Fundraising income received in advance 28,691 Deferred income is included in the financial stalements as ft)Ilows'. 2025 2024 Deferred income is included wthin.. Current liabilities 28.691 Movements in the year.. Deferred income at 1 April 2024 Released from previous periods Resources deferred in the year 28,691 128,691) 20,375 (20,3751 28.691 Deferred income at 31 March 2025 28,691 18 Retirement beneflt schemes 2025 2024 Defined contrlbution schemes Charge to profit or loss in respect of defined contributlon schemes 41,793 41,437 The charity operates a defined contribution pension scheme for all qualifying employeès. The assets of the scheme are held separately from those of the charity in an independently administered fund. 19 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and gTant5 held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprfl 2024 Incoming resources Resources expended Transfers At 31 March 2025 The National Lottery Community Fund Donnanl Accounts Fund Tursls & Foundations 5,224 33,333 40.000 138,557) (4,086) (35,914) 5,224 73.333 142,643) 135,914) -24-
Docusign Envelope ID.. 4EOl68E6-Fc3F483B1Bl-7O57OF337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds {Continued) Previous year: At 1 Aprll 2023 Incomlng sources Resources expended Transfers At 31 March 2024 The National Lotlery Community Fund Domiant AcUnts Fund The Community Foundation 33,334 128,1101 5.224 8,651 (8.651) 8,651 33,334 128,1101 18,651) 5.224 20 Unrestrlctod funds - designatgd These are unrestricted funds which are material to the charitys activities. At 1 April 2024 Transfers At 31 March 2025 Capital expenditure fund 7,300,000 2.500.000 9,800.000 Previous year: At 1 Aprfl 2023 Transfers At 31 Mar¢h 2024 Capital expenditure fund 5,300,000 2.000,000 7.300,000 The unrestricted designated funds repsent pmvision by the Trustees in respect of the future cost of the helicopter, the anticipated cost of building a permanent operalions base: and other potential future capital expenditure. 21 Unrestricted funds The unrestricted fijnds of the tharity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds whith have been set aside out of unrestricted fijnds by the trustees for specific purposes. At 1 April Incoming 2024 reSoUrS Resources expended Transfers At 31 March 2025 General funds 5.707,830 5.074.952 (2,343.661) {2.464,086) 5,975,035 -25-
Oocusi9n Enwolope ID.. 4E0168E6-FC3F4839-B1B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Unrestricted funds (Continued) Prevlous year.. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 5.583.286 4,449,406 {2,333,513} {1,991,349) 5,707,830 22 Analysls of not assots botween funds Unrestrl¢ted Unrestrlcted funds funds general deslgnated 2025 2026 Restricted funds Total 2025 2025 At 31 March 2025: Tangible assets Cuent assetsllliabilities) 76.172 5,898,863 1,282,107 ,617,893 1.358,279 14,416,766 5,975,035 9,800,000 15,775,035 Unrestricted Unrostricted funds funds general deslgnated 2024 2024 Restrlcted funds Totsl 2024 2024 At 31 March 2024: Tangible assets Current assetsl(liabilitiésl 60,840 5.646.990 60,840 12.952,214 7,300,000 5,224 5,707,830 7,300,000 5.224 13,013,054 23 Transfers be0n funds During the year the Trustees made the following transfers beeen funds.. £2.500,000 {2024'. £2.000,000) from unrestricted funds to designated funds representing reserves set aside by the Trustees in respect of the anticipated cost of building a permanent operations base and other potential future capital expenditure, and £35,914 from restricted funds lo unrestricted funds representing capltal expenditure for which the charity has complied with restrictions and are being released to general funds, as no further restrictions remain in place. -26-
Docusigll Envelope10'. 4E0168E6-FC3F4839.81B1-70570F337292 THE AIR AMBULANCE NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Capital commitrnents 202S 2024 Amounts contracted for but not provided in the financial statements.. 2025 2024 Acquisition of property, plant and equipment 5,400,000 As disclosed at note 14. the charty has paid a deposit on a new helicopter for delivery in 2026. Therefore the charity has a capital commitment as at the reporting dale in respect of the balance due on the helicopter. 25 Events after thg reporting date There have been no significanl events impacting the charity sinc8 the reporting date. 26 Related party transa¢tlons There were no disclosable Telated party transath'ons during the year. 27 Cash generated from operallons 2025 2024 Surplus for th8 year 2,761,981 2,121,117 Adjustments for: Investment income recognised in statement of financial activities Gain on disposal of tangible fixed assets Depreciation and impairment of tsngible fixed assets 1520,949> 19,640} 16,946 (267,099) 17,269 Movements in working capltal: Ilncrease)Idecrease in debtors Increaselldecreasel in creditors (Decreasellincrea5e in deferred income 150,039) 19,203 {28,6911 40,688 (6.075) 8.316 Cash generated from operatlons 2,188,911 1.914,216 28 Analysis of changes in netfund5 The charity had no material debt during the year. 29 Auditors Ethical Standards In common with many businesses of our size and nature we use our auditors to assist with the mplIatIOn of the statutory financial stalerrtents. -27-