County Air Ambulance Trust (Caat)

COUNTY AIR AMBULANCE TRUST (CAAT)

Board of Trustees Annual Report and Consolidated Financial Statements For the year ending 30 September 2019

ANNUAL REPORT of the Trustees 2018/19

CONTENTS

INTRODUCTIONS

A message from the Chairman, Michael Henriques 1

A snapshot of 2018/19 from the Chief Executive, Robert Bertram 2

TRUSTEES REPORT (incorporating Companies Act 2006 Strategic Report requirements)

STRATEGIC REPORT 3

FINANCIAL REVIEW 6

ACHIEVEMENTS AND PERFORMANCE 8

OUR THANKS 13

REFERENCE AND ADMINISTRATION DETAILS 14

STRUCTURE, GOVERNANCE AND MANAGEMENT 15

TRUSTEES’ RESPONSIBILITY STATEMENT 15

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS 16

FINANCIAL STATEMENTS

INDEPENDENT AUDITOR’S REPORT 17

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDING 18 30 SEPTEMBER2019

CHARITY STATEMENT OF FINANCIAL SERVICES 19

CONSOLIDATED BALANCE SHEET 21

CHARITY BALANCE SHEET 22

CASH FLOW STATEMENT 23

NOTES TO THE CASH FLOW STATEMENT 24

NOTES TO THE FINANCIAL STATEMENT 25

RECONCILIATION OF INCOME AND EXPENDITURE 26

A message from

Our Chairman of our Charity.

In this, my first full The results of this review and respective action year as Chairman I is now complete and a Special Resolution was am pleased to passed by the Board on the 2 May 2019 welcome you to the adopting updated Articles of Association and 2018/19 Annual Memorandum to ensure that they remain up- Report and Accounts to-date, relevant and all Trustees are now of the County Air bound by these Articles. Ambulance Trust, as I look back with great The Board also now follows a newly defined pride on another protocol and Terms of Reference for the successful year for recruitment of new Trustees and potential the Charity. candidates to make proper assessments, before appointment, of their abilities to make OVERVIEW an effective contribution to the Charity.

Despite the challenges of a difficult In my view we now have a governing body environment, downward giving trends and the committed to maintaining a high standard of backdrop of continuing media negativity about governance throughout the Charity to ensure the charity sector, we are pleased to see that that we remain compliant in all material thanks to the amazing support of individuals respects with the ‘Charity Code of and organisations, our income has held up Governance’. well. CONGRATULATIONS The Charity has achieved a strong financial performance which has delivered a 2.51% I wish to congratulate Robert Bentley, one of growth in income. This strong performance our Vice Presidents, and an ambassador for was only possible thanks to the outstanding the Charity on making the Evening Standard’s charitable support we received from our Top 1,000 most influential Londoners again donors, to whom we are hugely grateful. this year. This is recognition of his work for Major Trauma in the Capital and nationally The Trustees’ Strategic Report that follows will and, in particular, the achievement of the chart another ‘best ever year’ which has been King’s College Hospital 24/7 helipad, a first for the trend now over a number of years. London, with significant financial support from the HELP Appeal. During the year we were particularly fortunate to have strengthened our Board by appointing Robert Bertram, our Chief Executive, who the Hon. Arthur Vestey and Toby Askin as continues to lead the organisation with energy Trustees. They bring a broad range of and creative flair, received an invitation to invaluable professional skills, experience and become a fellow member of the Royal Society expertise to the Charity. Anna Turner, Lord of Arts in recognition for his work with hospital Lieutenant of Shropshire, agreed to be helipads across the country. appointed as Honorary Chairman, replacing Sir Algernon Heber-Percy whom we thank for Lesley Knight, who is the face of our HELP his 11 years of loyal service to the charity and Appeal, won her second award this year, being who is now Vice-President. voted ‘Fundraiser of the Year’ by Charity Today magazine. GOVERNANCE We are proud of our past and focused on our In the Trustees’ Strategic Report last year we future. We know there is no time to rest on our confirmed that much preparatory work was laurels as we continue this exciting journey. being undertaken to review and update our So thank you to all who have made the governance arrangements and trustee achievements possible – supporters, staff and, membership in order to drive our focus and of course, my fellow Trustees. direction to meet, where applicable, the seven principles set out in the ‘Charity Code of Governance’ that is central to the core values Michael Henriques

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A snapshot of 2018/19 from our Chief Executive

As we come to the end of We continue to work closely with the Midlands a busy year, I’d like to Air Ambulance Charity (MAAC) and our valued share some of the partnership to deliver advanced care as swiftly highlights with you. as possible has continued with the launch of a One thing is clear the second Critical Care car in the Worcestershire Charity’s HELP Appeal area to treat those suffering life-threatening conceived in 2008/9 has medical conditions and significantly improving achieved some notable their outcomes. milestones in its work and in the past year we NEW DEVELOPMENTS have seen some important new Throughout this year, we have worked hard to developments for the Charity. strengthen our engagement with strategic beneficiaries to help save lives. For example: RECORD YEAR the summer of 2019 marked the start of a ground breaking programme with the British Firstly, it’s always good to let you know where Association for Immediate Care (BASICS). An the money goes. Grants payable to hospitals organisation made up of 900 medical are made in line with our strategic objectives volunteers from doctors, nurses, paramedics and are agreed individually depending upon and others who work on a voluntary basis to when and how much funding is required. provide care across the country 24/7 to support NHS Ambulance Services. Once again, with record levels of income the year has been very successful, so much so BASICS volunteers are lifesavers – it’s as that the HELP Appeal made 35 grant payments simple as that and we presented a donation of totaling £4,821,779, primarily to improve £250,000 which will enable their vehicles to be helipad provision at hospitals across the fit for purpose and is a programme which we country. Since 2012 with just half a dozen have pledged to repeat annually. helipad projects we have now progressed to over 100 projects completed or in the pipeline ACKNOWLEDGEMENT and the number of landings on completed helipad projects has risen to over 12,000 on I’m proud to be working with such a wide those we have funded. range of dedicated caring individuals, from Air Ambulance chief executives through to those GRANT PAYMENTS brilliant and dedicated medical teams at hospitals who value the time saved in having a Overall our non-refundable financial grants helipad in getting patients to them quicker. have long been the underlying theme of the Charity. We believe that life-saving helipads Together we are helping to save more lives at have a special place in the public’s an increasing number of hospitals across the understanding of their need and by adding length and breadth of the e U K. value to the UK’s health economy without cost, in many instances, to the NHS. As an organisation we are particularly served by dedicated staff and by a highly committed We expect that we are going to need more Board of Trustees. I give my personal thanks income over the coming years to meet our to you all. planned commitments and ambitious aspirations in seeing new projects come to Finally, thanks to all our donors for your fruition. support over the year. We cannot do it alone and you play a vital role in allowing our Charity You can read about these in more detail in the to help save lives. Trustees’ Strategic Report on page 3 that follows. Robert Bertram, FRSA

Page | 2 STRATEGIC REPORT programme of reporting which provides robust INTRODUCTION data indicators on the impact and outcomes that we help to provide in saving lives. The Trustees are delighted to present their Annual Report together with the consolidated The Trustees review the grant making policy Financial Accounts of the Charity and its and existing activities with the senior trading subsidiary for the year ending 30 management team at quarterly intervals to September 2019. ensure the Charity maintains the overall aims and objectives they have set thereby delivering The report has been prepared to meet the on its public benefit requirement. requirements for a Director’s report and accounts for Companies Act 2006 purposes GOVERNANCE and to comply with fundraising reporting requirements. The Charity applies and follows the Charity Governance Code (for larger charities), issued The Directors of the Charity are its Trustees in July 2017 which sets out the principles and for the purposes of Charity Law and recommended practice for good governance. throughout this report are collectively referred to as the Trustees. The principal governing body is the Board of Trustees, who are volunteers, all of which are Since our inception in the mid-nineties, the unpaid roles, that is responsible for the Trustees have continued to maintain the strategic direction of the Charity. independence of the Charity as this enables them to remain agile and responsive in terms Matters such as policy and strategic plans are of decision making and strategic direction in prepared by senior management for the best interests of our supporters and consideration and approval by the Board. The beneficiaries. key leadership team, set up to facilitate decision making at management level, includes PUBLIC BENEFIT STATEMENT the Chief Executive, Trust Administrator, Head of Fundraising and Head of Finance. This In setting our objectives and planning our structure has been essentially stable activities the Trustees have referred to the throughout 2019, with only minor adjustments Charities (Protection and Social Investment) at some levels. Act 2016 and the Charity Commission’s general guidance on fund-raising standards The Board meets at quarterly intervals, information. together with the Chief Executive and Senior Management Team, to review regulatory Some ‘intangible’ benefits are difficult to compliance and overall performance standards measure but everything we do starts with our to ensure the Charity is well governed, safe supporters and ends with our beneficiaries. and legislatively compliant to meet our The relationship we have with them is vital to charitable objectives. the work we do and the public that benefit from them. Having moved from a relatively small charity in the mid-nineties, supporting the local air The Charity established its grant making policy ambulance service, to a much larger charity to provide essential financial support to a wide with a wider remit, in 2018 the Trustees felt it ranging programme of necessary was important to review our strategic direction improvements to the overall Helicopter to ensure that there are appropriate Emergency Medical Services network (HEMS) governance measures in place. with the goal of helping to ensure the best possible pre-hospital treatment and care for All Trustees have been engaged with this those patients who sustain life threatening review using the Charity Governance Code as injuries or illness. our frame for reference.

Our financial support makes a pivotal With full discussions at our Board meetings on difference to people and to society as a whole. how the strategy should evolve, extensive preparatory work was undertaken to explore To establish the evidence of the benefits of our how the governing structure should be updated grant payments we have developed a to ensure that it is still appropriate to a charity

Page | 3 of our size to meet good governance going Those Trustees in office at the time of adoption forward in years to come. of the Articles on 2 May 2019 will be deemed to have commenced their term of office on the With the help of our lawyers we received same date of these Articles. As a consequence consent from both the Charity Commission and no Trustees will be required to retire before the the Office of Scotland’s Charity Regulator to Annual General Meeting held in 2023. change the objects and amend the governing document to drive our focus and direction over The Trustees who served during the year are the coming years. None of this could have listed on page 14. They give their time freely been achieved without them and our Company and no Trustee received remuneration or other Secretary and Trust Administrator. benefits from their work but the Charity reimburses reasonable expenses incurred by We have paid great attention in recent times to these volunteers in carrying out their duties. ensuring that we have the highest standard of governance and a sound decision making TRUSTEE INDUCTION and TRAINING framework supported by highly effective Board of Trustees and governance structures. After being formally appointed, all new Trustees are provided with a comprehensive It is for this reason, the Board of Trustees are handbook; the Memorandum and Articles of satisfied that the current membership have Association; the decision making processes of considerable relevant experience to provide an the Charity; the Annual Report and Accounts; informed and rigorous delegated control and and the most current financial information. assurance on the Charity’s governance, internal controls and risk management This is aimed at helping them to understand framework, within the Code principle on the duties and responsibilities attached to the decision making. position under Charity and Company Law so that they can contribute to Board meetings as For the period of this return, there were no quickly as possible. serious incidents that the Charity failed to report to the Charity Commission. Trustees are encouraged to develop their knowledge and understanding of their role by RECRUITMENT AND APPOINTMENT OF visiting the Charity Commission’s TRUSTEES comprehensive website and, as part of ongoing training, they regularly receive charity New Trustees are appointed by the Board in law updates and presentations in relation to accordance with the Charity’s revised operational and topical charity sector matters. constitution and clearly defined Terms of Reference which were adopted at the Annual REGULATORY CHALLENGES General Meeting held on 2 May 2019. We have updated and improved a number of A sub Nomination Committee has been internal policies covering data protection and established to lead the process of selection of other regulatory issues. candidates for appointment to the Board. The Committee comprises three Trustees and has These changes were supported by the launch specific roles under the Articles of Association of a learning package for all members of staff of the Trust. designed to make them fully aware of the enhanced requirements and to ensure not only Recruitment is based on consideration of the the integrity and availability of our data, but skills we need to enhance and strengthen the also the security of personal donor data with capability of the Board and help to make the which we are entrusted. Charity a more agile and responsive organisation, mindful always of the need to Adherence to these polices is overseen by our reflect diversity and maintain a balance of Trust Administrator and Compliance Officer individuals that will be of benefit to the Charity. ensuring we are kept up to date with further legislation changes as they occur. They are elected by a majority vote normally for a term of four years. Each Trustee will retire INDEPENDENT AUDIT REVIEW from office at the fourth Annual General Meeting following the commencement of their During the year the Trustees authorised an term of Office. independent review of the Charity’s internal financial practices, with the findings presented

Page | 4 to the Board at the February 2019 board We are subject to regulation by the Charity meeting. Commission, Gambling Commission and the Information Commissioner’s Office, also The report confirmed that the Charity had the organisational members of the Institute of right balance in terms of experience and Fundraising. We actively follow their best expertise and sufficient oversight and practice guidelines and make sure all our monitoring of the key tasks. The review was agency partners are fully aware of this positive about the good systems in place although it identified the need for a little We do not currently work with a commercial tightening up here and there which has since participator. been taken forward and put in place. FUNDRAISING COMPLAINTS The report also included pleasing comments about our external auditors, Crombies We monitor and record any complaints Accounting Limited, who were included in the resulting from our fundraising practices. They review and concluded that the relationship we are reported to the Trustees on quarterly have with them is beneficial to the Charity. bases who review the number and general nature of them and any areas of risk that might The audit also looked at the financial stability of need to be addressed. our third party agents which gave favorable comfort to the Board. During the year, we received 27 complaints. We are pleased this was an improvement on FUNDRAISING STATEMENT last year’s figure of 34 complaints, set against a background of about 1,000 new lottery As a Charity that receives no national players and committed givers being recruited government funding, it is absolutely essential each week. that we take an active and responsible approach to our range of fundraising activities A very high proportion of these complaints which are carefully planned to receive financial continue to be mostly related to expressions of support through a variety of means. dissatisfaction at the method of recruiting donors by our third party fundraising partners. We are registered with the Fundraising Regulator, set up to oversee fundraising in the If a complaint or feedback is received, it is charity sector and have paid its voluntary levy. raised immediately with the canvassing agency for investigation and any necessary action The Charity is committed to providing an implemented. We regularly monitor our excellent service to supporters and all agencies to ensure they adhere to the strict fundraising activities are carried out with guidelines that we set. reference to the guidance and standards set out in the ‘Code of Fundraising Practice’. All complaints were handled in line with the Charity’s published complaint procedure and The Charity raises funds from the following resolved at stage 1 of the process. principal sources: No complaints were reported for investigation • A weekly lottery to the Fundraising Regulator. • Payroll giving • Committed monthly givers WORKING WITH • Collection boxes EXTERNAL ORGANISATIONS • Fundraising events • Legacies and in-memory donations While much of our fundraising work is done in • Trusts and Foundations house, there are occasions where it is more • Corporates and a circle of benefactors. effective to work alongside professional organisations. All contracts that we enter into Making sure that our on-going good are subject to due diligence and professional engagement with our supporters remains the advice from our legal advisers. key to our future success, we treat them respectfully and fairly so they feel valued and We have very tight governance arrangements free to donate when and if they wish to. All in place to ensure that third party agencies are donations are formally acknowledged in the registered with all the appropriate regulatory most appropriate method. bodies. During the year we updated these contracts, reinforcing the roles, responsibilities

Page | 5 and expectations about the handling and Income sources can be summarised as follows: security of personal data. Donations and legacies £2.0m (2017/18: In recognition of concerns about face-to-face £2.0m) fundraising, and in our efforts to help protect vulnerable people, we require our third party Other trading activities £6.3m (2017/18: £6.3m) agency canvassers to be Dementia Friends. Investment income £0.2m (2017/18: £0.2m) They are trained to recognise and deal sensitively with all vulnerable people and follow We always strive to maintain a range of income our vulnerable person’s policy. External each financial year to ensure that the majority organisations are subject to visits from the of the funds received by the Charity are spent Chief Executive and Senior Management on our charitable cause. Team, and are expected to deliver against closely monitored service level agreements. During the financial period for this return, the Charity did not receive any grant funding from central government, a local authority or from FINANCIAL REVIEW outside of the UK.

Overview of financial performance INCOME

This section summary on the key fundraising HELP APPEAL LOTTERY activities undertaken during the year includes the subsidiary trading company. Our trading subsidiary company runs the HELP Appeal weekly lottery to the highest possible None of our income streams are guaranteed standards. and the Trustees are delighted that, financially, the Charity has performed well this year. We have a ‘professional fundraising’ relationship with an experienced Gambling The growth in annual income is attributable to Commission accredited external lottery the splendid contributions of funds by our organisation, Lottery Fundraising Services Ltd supporters and the commitment of the staff in (LFS). They operate under our guidance and all areas of the organisation. The outstanding represent us to the wider community in support which we continue to receive has accordance with the Charities Acts 1992 and provided us with a “best ever year”. 2016. They are bound by regulatory compliance under the Gambling Commission The financial outcome for 2018/19 is set out in and work to the Fundraising Regulator the consolidated statement of financial guidelines. activities on page 19. We were pleased to see the lottery making 2018/19 2017/18 great strides again this year as it continues to £m £m be a key source of funds for the Charity and Income 8.7 8.5 reflects our continuing investment in the HELP Expenditure on raising 3.4 3.1 Appeal weekly lottery. funds Net income available for 5.3 5.4 At the end of the financial year the number of charitable activities people playing the weekly lottery had increased Charitable spend 4.9 5.3 to 122,271, up 6.22% on last year. This growth in the sale of lottery tickets surpassed our Overall income again exceeded our original targets for the year in delivering gross income financial prediction for the year due to of £6.2m (2017/18 - £6.0m) with net income of continuing growth in the weekly lottery, £4.1m (2017/18 - £3.8m) monthly committed giving programme and other low risk, steady income sources. We continue to closely monitor and manage the canvassing activities undertaken by LFS Income from our managed fundraising events and through regular compliance meetings we fell by 55% but this was partly offset by review any concerns, discuss performance and increases in grant making trust donations. the training of fundraisers engaged directly in Other areas of fundraising income were communicating with the public on our behalf. broadly in line with previous year’s income.

Page | 6 We have extended monitoring arrangements many years, and we are honoured to continue by undertaking ‘post sales’ calls to new lottery our long association with them. members to obtain feedback on their experience of joining the lottery to ensure Further generous donations were received quality and consistency of service. We are from the Leek United Building Society whose pleased to report this is overwhelmingly popular Affinity Account, launched in 2008, has positive. donated to date in excess of £280,000 and the Jordan Foundation has donated in excess of The Trust Administrator and Chief Executive £320,000 over more than two decades. are both registered as the relevant responsible persons with the Gambling Commission, which Wills and Legal Services support our HELP enables the Charity to legally promote a lottery Appeal with their Wills Campaign to write wills and other types of raffles and draws. They for the general public in exchange for a ensure that the Lottery Returns and Annual donation to the appeal. Since 2014, people Submissions to the Gambling Commission are have backed the HELP Appeal through this completed accurately and on time. campaign, raising in excess of £735,000.

COMMITTED GIVING PROGRAMME TRADING SUBSIDIARY

In recognition of falling voluntary donations The Charity has one wholly owned trading across the charity sector, the Trustees decided subsidiary business, known as County Air in 2018 to commit funds to a pilot programme Ambulance Trading Limited (Company to increase regular giving across our number: 08308860). The company operates fundraising income streams. independently of the Charity in accordance with Charity Commission guidelines. A summary of Plans were developed with Lottery Fundraising the subsidiary company results appear in note Services Ltd for a Committed Giving 19 in these accounts. Programme to provide further ways to donate on a monthly basis which will help to diversify The Trading company continued to achieve income over the coming years. year on year results as turnover was £6.2m (2017/18 - £6m). The Directors of the Trading The LFS canvassers are now able to offer the Company, which runs and manages the choice of a lottery membership or a regular weekly lottery, agreed with the Charity to giving donation with new donors coming on donate the year’s taxable profit to the Charity. board each week to support future helipad projects. This important contribution just shy of £3.8m (£3.5m 2017/18) makes it the Charity’s largest Early stages of the Committed Giving initiative single commercial donor. are encouraging. It is a lengthy implementation process and seems to be working well with Two of the Trustees are also Directors of the high returns expected to be felt from 2021 and trading subsidiary; this relationship enables beyond them to report on the activities and performance and communicate those matters. LEGACIES The Directors are clear on the requirement to act in the interests of the Company when Legacy income of £558k remained strong and making decisions. steady throughout the year and remained close to budget. Income was down from last year BROADENING OUR SUPPORT (£912k) which had been unusually high and illustrates the variability of legacy income. Digital communications are now at the heart of the wider communications strategy. Social We greatly appreciate the generosity of our media is being used to communicate and supporters when naming our Charity in their engage with existing and new supporters. wills. The future legacy pipeline also appears strong. Utilising digital media, press and events we are connecting with and engaging increasing CORPORATE SUPPORTERS numbers of people. We have seen growth in the amount of press coverage that we receive We also value highly the relationships we have and have followers across our social media with our corporate supporters. Some of these channels. We also receive regular monthly supporters have built relationships with us over donations from over 10,000 committed givers.

Page | 7 Harnessing both internal and external media These grants continue to add to our excellent communications helps to promote awareness reputation at the forefront of the UK HEMS of the Charity and support its reputation. We network also regularly review our website requirements to make it easier for supporters to engage with The demand for financial help continues to the Charity. grow year on year and the Trustees remain mindful of the importance of generating EXPENDITURE significant financial resources to continue grant making, particularly with the uncertainty of Total group expenditure was £8.2 million, a fluctuations within specific income streams decrease of £0.2 million compared with last such as legacy giving. year.

This higher total level of expenditure reflects our current strategy of investment into recruiting more regular givers and although the cost of recruitment is high initially, it should pay large dividends in the long-term and we intend to keep investing in this area.

Our spend on charitable activities reduced slightly from record levels last year as a direct result of some major helipad projects at hospitals due for completion in 2019 having been delayed. The illustration above is of a Deck Integrated Fire Fighting System retro-fitted Within the 2019/2020 budget, total grant at the Bristol Royal Infirmary in 2018 at a payments are planned to be a significant cost to the HELP Appeal of £574,024. increase on the comparable outturn for this year. This increased level of spend reflects a best view across the HELP Appeal portfolio of ACHIEVEMENTS AND PERFORMANCE planned helipad projects at hospitals across the UK. Grant making is the main way our Charity carries out its purposes. GRANT PAYMENTS By way of example, our on-going financial The Charity works in partnership with support to the Midlands Air Ambulance Charity numerous organisations. Grants payable are (MAAC) is now in excess of £8.5m and we made in line with the strategic objectives, and continue to work very closely with them in overall income increased sufficiently to cover providing financial support for their work when all grant payments in line with our expectations relevant. This forms a vital part in ensuring for the year. their service continues to provide the very best clinical and operational pre-hospital patient We are now working ever more closely with a care. number of Air Ambulance Charities and other emergency medical providers across the In last year’s report we referred to our work in country that provide specialist lifesaving pre- collaboration with MAAC to launch a specialist hospital care for patients suffering life Critical Care Car (CCC) service across the threatening injuries or illness. Birmingham and Black Country region to further enhance their emergency response When considering a grant application for service. financial support from an organisation we do this based on all the facts and circumstances Given the success of the first CCC, a second in relation to their clinical and operational critical care car was launched during the service providing the very best patient care. summer of 2019 at a cost of £131,153 which operates in and around the Worcestershire We make a final judgment on the whole picture area specialising in life saving land based of public benefit having a positive impact to missions. improve the patients’ experience and survivability.

Page | 8 The CARE team is a network of health professionals who give up their free time to deliver enhanced critical care to seriously ill patients.

Whilst the cars cannot be used to convey a patient to hospital, they are the swiftest mode of transport in built up areas by delivering advanced care as swiftly as possible to a patient suffering a life threatening medical condition using the car’s bespoke medical equipment.

The summer of 2019 also marked the start of The two programmes are part of the future two new ground breaking programmes aimed initiate which aims to support healthcare at improving the wellbeing of people in need of professionals in improving their services for urgent medical treatment and care. seriously ill patients across the country.

The first was with the British Association for Immediate Care (BASICS). An organisation Here’s a snapshot of how some of our made up of 900 medical volunteers from grant payments have supported a number doctors, nurses, paramedics and others who of helipad projects this year. work on a voluntary basis to provide care across the country 24/7 to support NHS Sheffield’s Children Hospital (£587,300) Ambulance Services. Planned new helipad construction with integrated DIFFS

Royal Sussex Hospital Brighton (£500,000) New helipad construction with integrated DIFFS

Devon and Exeter Hospital (£500,000) Brand new replacement helipad

King’s College Hospital London (£500,000) Recently built helipad with DIFFS

BASICS volunteers are lifesavers – it’s as simple as that and we presented a donation of £250,000 which will enable their vehicles to be fit for purpose and is a programme which we have pledged to repeat annually.

In the second one we have committed to giving £30,000 to the West Midlands CARE Team every year for the next five years to improve its operational activities. The grants will be used to cover their significant operational costs of running a clinical service and response car to support West Midlands Maidstone and Tunbridge Wells Hospital Ambulance Service in emergency incidents. (£300,000) New helipad funding

Page | 9 Luton & Dunstable Hospital (£500,000) INVESTMENT POLICY and PERFORMANCE Planned new helipad construction with integrated DIFFS Under the Memorandum and Articles of Association, the Trustees are permitted to London’s Air Ambulance (£250,000) invest the monies of the Charity not Helipad crew accommodation, educational and immediately required for its own purpose in any training facility way they wish. In doing so, they seek to produce the best financial return within an Manchester Central Hospitals (£250,000) acceptable level of risk whilst maintaining good Planned new helipad construction with liquidity in line with our objects. integrated DIFFS The Investment Committee oversees the Great North Air Ambulance (£230,000) execution of the agreed investment strategy Helipad funding at new airbase and activities which are supported by Investec Wealth and Investment Limited who also Royal Preston Hospital (£111,339) measure performance against established Upgrading helipad funding market benchmarks that are regularly beaten for each asset class during the year. Hull & East Yorkshire Hospital (£90,547) The Investec advisers spread the risk across Recently built helipad different asset classes and between different styles of investment to achieve a total return in Scottish Ambulance Service (£69,786) excess of inflation that provides recurring Annual maintenance of secondary landing income whilst growing the value of the portfolio. lighting equipment During the year the investment policy was Lincs and Notts Air Ambulance (£65,950) reviewed and updated to align with changes in New airbase and community landing sites its risk profile for our investment holdings to ensure that, over the medium term, income and capital can grow in real terms.

The following served on the Investment Committee during the year:

John Jones (Chairman) Michael Henriques Robert Bertram Hon. Arthur Vestey (from July 2019).

Advisory members: Charlotte Selby-Rickards Charles Purves Peter Horton

From the inception of the portfolio (March 2014) to September 2019 it has returned Portsmouth Hospital (£28,712) Upgrading helipad with night lighting 38.75%. The value of assets held with our fund manager at 30 September 2019 was £6,475,796.

The Trustees are confident that this investment remains aligned to the Charity’s requirements and recognise the wealth of knowledge and experience of the Investec advisers.

REMUNERATION

The role of the Remuneration Committee is to oversee the remuneration policy for the Charity Dorset County Hospital (£27,520) to ensure that the reward package offered to Helipad lighting station staff is competitive so that we are able to

Page | 10 recruit and retain them. Inability to do this is The key Challenges are set out below: seen as a key risk to the Charity. Risk Mitigating actions The Remuneration Committee includes a Major decline in a) Financial policies subset of Trustees with particular focus to donor income and procedures in determine the overall reward and remuneration place strategy including any annual or periodic pay b) Operating diverse award, pension scheme contribution, car income streams allowance and wellbeing schemes. They take c) Regular monitoring of account of affordability for the Trust, and the management accounts fact that it operates in the third sector. d) Robust budgeting process and cash flow The following served on the Remuneration forecasts Committee during the year: e) Careful management of the investment Michael Henriques portfolio John Jones DL Richard Everard OBE, DL Loss of donor a) Crisis management confidence because procedure in place RISK MANAGEMENT of adverse publicity b) Monitoring of media and social media The Trustees acknowledge their responsibility c) Risk assessments for defining the Charity’s risk tolerance and undertaken for all maintaining a sound risk management system. Charity managed events They have put in place a comprehensive risk Knowledge base of a) Processes in framework in line with best practice and the the Trustees place to review requirements of the Charities Statement of performance and Recommended Practice (SORP) (FRS 102), to governance structures assess any risks to the Charity and implement Changes to the a) Culture and ethos of risk management strategies. organisational CAAT values structure of the embedded across the This strategy seeks to minimise all operational Charity arising from Charity. and compliance risks to as low a level as is loss of knowledge, b) Salaries and practicable given the activities and consistency or benefits reviewed responsibilities the Charity fulfils. failure to maximise annually the many and varied c) Quarterly meetings A Risk Register is monitored by the Senior skills of our staff with follow up on Management Team and reviewed half-yearly themes by the Trustees. In this way the Board d) Systems and maintains oversight of identified risks and is in procedures a position to satisfy itself that proper measures documented and systems are in place, as far as reasonably e) Succession possible, to mitigate or eliminate that risk. planning in place Impact of potential a) Policy and Appropriate insurance cover and special cyber fraud procedure statements advice has also been obtained. in place for passwords and encryption The system of risk management and internal b) Specialist insurance control is designed to minimise rather than cover in place eliminate the risk of failure to achieve the Charity’s objectives and cannot provide RESERVES POLICY absolute assurance against the risks that we face. Reserves policy is decided by the Trustees, taking into consideration relevant Charity The Trustees are satisfied that, as far as is Commission guidance. practicable, adequate procedures and systems are in place to monitor, manage and where The reserves strategy seeks to balance the appropriate, mitigate the Charity’s exposure to objective of promptly spending income with the major risks. need to have the security of reserves to fall

Page | 11 back on to maintain our grant making We very much appreciate the tireless work of capabilities in periods of downturn and where our staff and it’s thanks to their dedication that there may be a timing delay between we are able to report on the many completing more costly helipad projects. achievements over the past year. We recognise their achievements and successes The current level of reserves remains at the in staff awards. top end of the target range of £6 - £8 million which strikes a balance between the need to We are hugely grateful to many different spend down income and maintaining people and organisations which enable us to operational integrity. continue our financial support of air ambulance services, hospital helipad projects and other The Trustees believe this level of reserves is emergency medical providers across the acceptable and prudent given, in the next 12 country. months, we anticipate an increase in grant awards for hospital helipad projects and to GOING CONCERN cover the costs of administering and managing the Charity’s income generating activities. The Trustees have reviewed the Charity’s financial position and believe that there are no With this in mind the Trustees consider the material uncertainties that call into doubt the current reserve position of £7.6m at the end of Charity’s ability to continue. September 2019 to be satisfactory. The reserves policy is periodically reviewed to The Charity has a broad range of income ensure that it remains appropriate as streams that provide a reliable source of circumstances change. income to fund our charitable objectives.

OUR FUTURE FOCUS Having reviewed the Charity’s financial position and assessed the projected future In the year ahead we will continue to ensure grant projections, and associated cash flow sufficient charitable funds are available to forecasts, the Trustees have concluded that maintain our grant spending in line with there is reasonable expectation that the changing circumstances. Charity and its Trading subsidiary have adequate resources to continue in operational While the fundraising climate in the UK existence for the foreseeable future. remains challenging, we retain a positive outlook and will continue our strategy of For this reason the financial statements have income diversification in other markets therefore been prepared on the basis that the wherever possible. Charity is a going concern.

Fundraising expenditure levels are planned to By order of the Board of Trustees this report increase slightly again in 2020, as part of the was approved by them on 13 February 2020 continuing strategy to strengthen the base of and signed on their behalf by: committed givers, with related income scheduled in future years.

We are very appreciative of the donations we receive but acknowledge the behavior of the general public is changing with the times and Michael Henriques we need to re-develop some of our income Chairman of the Board of Trustees streams in today’s data driven world.

The real challenge we are facing is how we can compete at this level of supporter engagement or risk losing income.

OUR SUPPORTERS AND STAFF Paul J Harris Director and Company Secretary Our work is only possible thanks to the relationship we have with our supporters, and the kind donations they give are vital to the work we do and the people who benefit from it.

Page | 12 OUR THANKS Mill Farm Holiday Park Lottery Fundraising Services We would like to express our special thanks to: Their overall support and advice is greatly appreciated and ensues the Charity is well Adrian Page, Chief Executive of South governed so maintaining the high standards Staffordshire Group Plc for providing free and legislative issues. office accommodation and facilities at their Walsall Headquarters for over 25 years. Everyone at the Charity was very sad to learn of the death of Mrs Mary We are also very appreciative of the support of Kenyon-Slaney. Mary was one of our David Abbott and Partners who have given us first Trustees and her advice and office space voluntarily for the past four years assistance was invaluable in helping in to assist with our vital fundraising activities. the development of the Charity and in achieving our initial objectives. Mary’s These provisions have enabled us to focus our strong connection to the Charity efforts on raising much needed funds in continued when she became one of our support of our air ambulance and hospital Vice Presidents. beneficiaries across the country. The Trustees give their thanks to Mary The role of volunteers is integral to what we for her years of dedication to the do, operating in and around the London area Charity, and at this saddest of times, coordinating collection tins and raising for her kindness in remembering us awareness and support for the Charity within with a special gift in her Will. local communities.

In addition we are grateful for the support and advice sourced from: We appreciate that leaving a gift in a Will is a very personal decision and we are fortunate to Anthony Collins LLP Solicitors have received 26 generous donations this year Meridian Private Client Solicitors from the following people who have also Crombies Accountants Limited remembered the Charity in their Will: Investec Wealth & Investment PGMS Limited Geoffrey Marshall Austin Smee & Ford Ltd Diane June Bicknell Verbatim Call Services Margaret Vivian Boland Kablooie Creative Patricia Sarah Cooper Civil Aviation Authority international William Eric Cooper Managers and staff at – Barbara Edith Deakin Lloyds Commercial Banking Ian Lindsay Dodd Barclays Corporate Molly Edwina Evans Nat West Bank Marion Farley Anthony Powers Humphries We have a tradition of recognising the May Jean Jones people whose support has allowed us to Elizabeth Ann Kirby flourish over the decades and are Alexander Lee particularly grateful for the financial June Miriam Meneer support that we regularly receive from: Irene Osborne Sylvia Parkes The Jordan Foundation Geoffrey John Parry Leek United Building Society Mavis Perks Steppes Travel Ltd Derrick Roberts Green Turtles Swimming Club Eileen Mary Siggins Investec Wealth and Investment Limited Dorothy Joan Taylor G4S Care & Justice Service (Oakwood) Dorothy Team CC Giro Elizabeth Mary Voyce Everards Brewery Evelyn Margaret Ward The Lady Forester Trust Joan Welsh Sports Argus Darts Team Joan Mary White BNI Isaac Walton

Page | 13 REFERENCE AND ADMINISTRATION Trading Board Directors DETAILS Hugh B Meynell MBE Paul J Harris The County Air Ambulance Trust Limited is a Robert W Bertram FRSA private company, limited by guarantee and is Arthur H Worthington registered with the Charity Commission and Scottish Charity Regulator. The Charity was Nominations Committee incorporated on 10 April 1995 and was first Paul J Harris, Chairman registered as a charity in England and Wales Michael Henriques on 24 July 1996. John Jones DL

Principal Address and Registered Office: Investment committee PO Box 999, (Offices of South Staffordshire John Jones DL, Chairman Plc), Green Lane, Walsall, WS2 7YX Michael Henriques Hon. Arthur G Vestey – appointed July 2019 Registered Company Number: 03044061 Robert W Bertram

Registered Charity Numbers: Remuneration Committee 1057063 (England & Wales) Michael Henriques SC045963 (Scotland) Richard Everard, OBE DL John Jones DL KEY PEOPLE Senior Management Team Honorary Patron Catherine, Lady Forester DL Robert W Bertram, FRSA - Chief Executive Arthur H Worthington - Trust Administrator Honorary Chairman Sally M Abbott - Head of Fundraising Anna Turner, Lord Lieutenant of Shropshire Carol A Follos – Head of Finance (appointed May 2019) Life President Hugh Meynell MBE THE CHARITY’S ADVISORS

Vice Presidents Principal Bankers Sir Algernon Heber-Percy, KCVO Lloyds Commercial Banking, The Bridge, The Countess of Aylesford Walsall, WS1 1LU Lindsay Bury The Duke of Beaufort Barclays Corporate, Barclays House, Mrs Vesey Holt Ocean Way, Southampton, SO14 3TJ John N Kirkland Professor Sir Keith Porter Nat West Bank, 57 High Street, Christchurch The Lord Stafford Dorset, BH23 1BB Martin Thompson The Lord Vestey Independent Auditors Robert Bentley Crombies Accountants Limited 34 Waterloo Road, Wolverhampton, WV1 4DG Honorary Officers Michael Henriques, Chairman Solicitors John Jones DL, Deputy Chairman Anthony Collins LLP, 134 Edmund Street, Paul Joseph Harris, Company Secretary Birmingham, B3 2ES

The Trustees and Directors Meridian Private Client Solicitors, Michael Henriques, Chairman Wood Rydings Court, Packington Lane, John Jones DL, Deputy Chairman Little Packington, Warwickshire, CV7 7HN Paul Harris, Company Secretary Hugh Meynell MBE Investment Managers Richard Everard OBE DL Investec Wealth & Investment Limited Dr Shaukat Ali Festival House, Jessop Avenue, Mrs Michael Brinton DL Cheltenham, GL50 3SH Mrs Nicholas Bishop Hon. Arthur G Vestey – appointed July 2019 Tobias Askin – appointed September 2019

Page | 14 STRUCTURE, GOVERNANCE AND incurring more major expenditure is referred MANAGEMENT to a full meeting of the Trustee Board.

GOVERNING INSTRUMENT During the financial period for this annual return, none of the Trustees received Originally founded in 1993 the County Air remuneration or benefits other than the Ambulance Trust Limited is a private company reimbursement of reasonable expenses (number 03044061) governed by its incurred by them in carrying out their duties as Memorandum and Articles of Association volunteers and they are disclosed in note 10 to which were amended by special written the accounts. resolution of the Board of Trustees dated 2 M ay 2 01 9 . No trustee resigned or took up employment with the Charity during this financial period. Objectives and activities The Charity holds trustees and directors T h e principal aim of the C h a r i ty is to Indemnity Insurance cover of £1,000,000 but generate income from fundraising activities to the cost is not separable from the total cost of promote, develop and enhance support for insurance. the provision of ‘HEMS’. These fundraising activities are planned to maximise our income TRUSTEES’ RESPONSIBILITY STATEMENT and build the Charity’s brand. The Trustees confirm that the Annual Report The Charity primarily operates in England and and Financial Statement of the Company and Wales and during this financial period also in the Group comply with the Charities Acts 2011 Scotland where we have a number of important and 2016, the Company’s Act 2006, and the hospital helipad projects. The total income and requirements of the Charity’s governing expenditure figures for Scotland are shown document and in accordance with United separately in the statement of financial Kingdom Generally Accepted Accounting activities on page 28. Practice, including FRS 102, the financial r eport i ng standard applicable in the UK The C h a r i ty does not have a share capital effective from 1st January 2015. and has one wholly owned trading subsidiary, County Air Ambulance Trading Limited, which The Trustees are satisfied that they give a true is registered and operates within the United and fair view of the state of affairs of the Kingdom that carries out trading activities. charitable company and the group and of the incoming resources and application of Organisational structure resources, including the e income and expenditure, of the charitable group for that We have a governing Board of Trustees period. committed to maintaining a high standard of governance. Trustees, all of whom are unpaid In preparing these financial statements, the roles, are drawn from diverse backgrounds to Trustees are required to: bring a broad range of relevant experience and skills to Board discussions. Their names are • select suitable accounting policies and listed on page 14 above. then apply them consistently;

Committees are in place to oversee and • observe the methods and principles in review policies for the Charity with particular the Charities SORP (FRS 102); focus on matters of financial control, investment, remuneration and governance. • make judgments and accounting They report back any actions arising at estimates that are reasonable and subsequent board meetings. prudent;

The Chief Executive, Trust Administrator and • state whether applicable UK Head of Finance each have delegated Accounting Standards have been authority to incur expenditure up to £5,000. followed, subject to any material departures disclosed and explained in This level has not been increased since 2007. the financial statements; and Expenditure over this amount can be authorised by the Chairman or in his absence the Company Secretary. All issues

Page | 15 • prepare the financial statements on the This report was approved by the Board of going concern basis unless it is Trustees on 13 February 2020 and signed on inappropriate to presume that the their behalf by: charitable group will continue in business.

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other Michael Henriques irregularities. Chairman of the Board of Trustees

Then, there is our work on compliance that means we all have to operate in accordance with the many rules, laws and regulations that relate to the work of the Charity.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS Paul J Harris Director and Company Secretary The Trustees confirm that:

• so far as each Trustee is aware, there is no relevant audit information (As Defined By Section 418 of the Companies Act 2006) of which the charitable company’s auditor is unaware; and

• each trustee has taken all the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

No Trustees have any beneficial interest in the Charity and guarantee to contribute £10 in the event of a winding up. The Trustees receive no remuneration for their services.

Appointment of Auditors

Crombies Accountants Limited had signified their willingness to continue as the Charity’s auditors for the ensuring year. A role they have discharged most diligently over the past few years. Their re-appointment will be considered at the Annual General Meeting on 3 June 2020 in accordance with Section 489 of the Companies Act 2006.

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COUNTY AIR AMBULANCE TRUST GROUP

Opinion We have audited the financial statements of County Air Ambulance Trust Group (the 'charitable company') for the year ended 30 September 2019 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 30 September 2019 and of its incoming resources and application of resources, including its income and expenditure, of the undertakings included in the consolidation as a whole, so far as concerns members of the company, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)

Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COUNTY AIR AMBULANCE TRUST GROUP

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of trustees As explained more fully in the Statement of Trustees Responsibilities set out on page fifteen, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Ian James Cattell (Senior Statutory Auditor) for and on behalf of Crombies Accountants Limited Chartered Accountants and Statutory Auditor 34 Waterloo Road Wolverhampton West Midlands WV1 4DG

Date: 13 February 2020

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2019

2019 2018 Unrestricted Restricted Total funds Total funds fund fund Notes £'000 £'000 £'000 £'000 INCOME AND ENDOWMENTS FROM Donations and legacies 22 1,364 626 1,990 2,009

Other trading activities 3 6,376 8 6,384 6,292 Investment income 4 148 37 185 183 Other income 95 11 106 16

Total 7,982 682 8,664 8,500

EXPENDITURE ON Raising funds 5 3,198 158 3,356 3,091 Charitable activities 6 Grants for Air Ambulance - 352 352 505 Administrative Costs 72 44 116 145 Grants for Helipad construction 4,466 - 4,466 4,689

Total 7,736 554 8,290 8,430

Net gains/(losses) on investments 373 - 373 202

NET INCOME 619 128 747 272

RECONCILIATION OF FUNDS

Total funds brought forward 5,428 1,440 6,868 6,596

TOTAL FUNDS CARRIED FORWARD 6,047 1,568 7,615 6,868

CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2019 Charity Charity Charity Charity 2019 2018 Unrestricted Restricted Total funds Total funds fund fund NotesNot £'000 £'000 £'000 £'000 es INCOMING RESOURCES Donations, legacies & similar income 2 1,364 626 1,990 2,008

Other fund raising activities 3 3,910 8 3,918 3,808 Investment income 4 148 37 185 183 Other incoming resources 95 11 106 16

Total 5,517 682 6,199 6,015

EXPENDITURE ON Raising funds 5 733 158 891 606 Charitable activities 6 Grants for Air Ambulances - 352 352 505 Administrative Costs 72 44 116 145 Grants for Helipad construction 4,466 - 4,466 4,689

Total 5,271 554 5,825 5,945

Net gains/(losses) on investments 373 - 373 202

NET INCOME 619 128 747 272

RECONCILIATION OF FUNDS

Total funds brought forward 5,428 1,440 6,868 6,596

TOTAL FUNDS CARRIED FORWARD 6,047 1,568 7,615 6,868

CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2019

2019 2018 Unrestricted Restricted Total funds Total funds fund fund NotesNot £'000 £'000 £'000 £'000 es FIXED ASSETS Investments 13 5,134 1,284 6,418 6,406

CURRENT ASSETS Prepayments and accrued income 586 - 586 300 Cash at bank and in hand 400 285 685 240

986 285 1,271 540

CREDITORS Amounts falling due within one year 14 (73) (1) (74) (78)

NET CURRENT ASSETS 913 284 1,197 462

TOTAL ASSETS LESS CURRENT LIABILITIES 6,047 1,568 7,615 6,868

NET ASSETS 6,047 1,568 7,615 6,868

FUNDS 15 Unrestricted funds 6,047 5,428 Restricted funds 1,568 1,440

TOTAL FUNDS 7,615 6,868

The financial statements were approved by the Board of Trustees on 13 February 2020 and were signed on its behalf by:

MICHAEL HENRIQUES CHAIRMAN OF THE TRUSTEES

The notes form part of these financial statements

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST CHARITY BALANCE SHEET AT 30 SEPTEMBER 2019

2019 2018 Unrestricted Restricted Total funds Total funds fund fund NotesNot £'000 £'000 £'000 £'000 es FIXED ASSETS Investments 13 5,134 1,284 6,418 6,406

CURRENT ASSETS Debtors 413 - 413 381 Prepayments and accrued income 586 - 586 300 Cash at bank and in hand (16) 285 269 (146)

983 285 1,268 535

CREDITORS Amounts falling due within one year 14 (70) (1) (71) (73)

NET CURRENT ASSETS 913 284 1,197 462

TOTAL ASSETS LESS CURRENT LIABILITIES 6,047 1,568 7,615 6,868

NET ASSETS 6,047 1,568 7,615 6,868

FUNDS 15 Unrestricted funds 6,047 5,428 Restricted funds 1,568 1,440

TOTAL FUNDS 7,615 6,868

The financial statements were approved by the Board of Trustees on 13 February 2020 and were signed on its behalf by:

MICHAEL HENRIQUES, CHAIRMAN OF THE TRUSTEES

The notes form part of these financial statements

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2019

Group Charity Group Charity 2019 2019 2018 2018 £’000 £’000 £’000 £’000 Cash flows from operating activities Cash generated from operations Net cash provided by (used in) operating activities

Cash flows from investing activities Purchase of fixed asset investments Sale of fixed asset investments Interest received Dividends received Net cash provided by (used in) investing activities

Change in cash and cash equivalents in the reporting period

Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the period

The notes form part of these financial statements

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2019

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Group Charity Group Charity 2019 2019 2018 2018 £ ‘000 £’000 £’000 £’000

Net income for the period (as per the statement of financial activities) 747 747 272 272 Adjustments for: Dividends received (184) (184) (183) (183) (Decrease) Increase in creditors (4) (2) 70 69 Decrease (Increase) in debtors (286) (318) (282) 54 Revaluation of investments (373) (373) (201) (201)

Net cash provided by (used in) operating activities (100) (130) (324) 11

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

1. ACCOUNTING POLICIES

Basis of preparing the financial statements The financial statements of the charitable company, limited by guarantee, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Companies Act 2006, the Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£)

Use of estimates and judgements When preparing the financial statements, the trustees and management make a number of judgments, estimates and assumptions on the way in which assets, liabilities, income and expenditure is recognised and measured.

Critical accounting judgements and key resources of estimation uncertainty In the application of the accounting policies, trustees are required to make judgment, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period of the revision and future periods if the revision affected current and future periods.

Group financial statements The financial statements consolidate the results of the charity and its wholly owned subsidiary County Air Ambulance Trading Limited on a line by line basis.

Going concern These accounts have been prepared on the basis that the charity is a going concern, because the trustees consider that there are sufficient reserves to secure the future of the charity for at least the next 12 to 18 months.

Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs The trust initially identifies the costs of its support functions and then identifies those costs which relate to the governance function. Having identified its governance costs the remaining support costs are apportioned between the charitable activities undertaken on an invoiced or time apportioned basis as appropriate.

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REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

1. ACCOUNTING POLICIES- CONTINUED Income All income is reported gross when raised by the charity or its agents. Any fee charged by a third party and deducted from the amount collected before it is remitted to the charity is not offset against income but is reported as a fundraising expense.

Income is recognised in full within the Statement of Financial Activities as soon as the following three factors can be met:

• Entitlement – control over the rights or other access to the economic benefit has passed to the charity

• Probability – it is more likely than not that the economic benefits associated with the transaction or gift will flow to the charity

• Measurement – the monetary value or amount of the income can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

a) Legacies Legacies are included in the Statement of Financial Activities when all the criteria for Income recognition have been met. In addition, where the entitlement and probability criteria have been met, but the monetary value is not completely certain, then if reliability can be placed on a partial receipt, that income also will be included in the Statement of Financial Activities.

b) Event Income Income received in advance of an event is deferred if the event takes place after the year-end, unless that income is non-refundable.

c) Gifts in kind Assets donated to the charity for its own use are included in the Statement of Financial Activities as incoming resources at the market value at the time of the gift.

Assets and gifts made for the conversion into cash and subsequent application for the charity are included in the accounting period in which the item/s are sold at the sale value.

d) Volunteers and supporters The charity benefits greatly from the involvement and enthusiastic support of its many volunteers and supporters, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

Taxation The charity is exempt from corporation tax on its charitable activities.

Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

26Page 2

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

1. ACCOUNTING POLICIES- CONTINUED

Balance Sheet The Balance Sheet reflects the resources available to the charity, and identifies any restrictions placed on their use.

a) Investments Investment funds are stated at market value at the Balance Sheet date. The Statement of Financial Activities includes the net gain or loss during the financial year. Detailed analysis of the changes in investment value during the year is set out in Note 15. Investments in group undertakings are stated at cost.

b) Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basis financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

c) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

d) Short term deposits The charity categorises short-term deposits as those funds intended to be held in accounts for five years or less.

e) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Interest free intercompany loans are recognised at present value.

27Page 2

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

2. DONATIONS, LEGACIES AND SIMILAR INCOME

Group Charity Group Charity 2019 2019 2018 2018 £ 000’s £ 000’s £ 000’s £ 000’s

Donations 684 684 582 581

Committed giving 368 368 82 82 Legacies 558 558 912 912 Telephone appeals - - 31 31 Payroll giving 380 380 402 402

1,990 1,990 2,009 2,008

3. OTHER TRADING ACTIVITIES

Group Charity Group Charity 2019 2019 2018 2018 £ 000’s £ 000’s £ 000’s £ 000’s Lottery income 6,258 - 5,998 - Events 126 126 294 294

6,384 126 6,292 294

Of the lottery income received by the Group £337,230 (2018 £425,450) was generated in Scotland as were donations of £571 (2018 £2,285)

4. INVESTMENT INCOME

Group Charity Group Charity 2019 2019 2018 2018 £000’s £ 000’s £ 000’s £ 000’s Investment income 184 184 183 183 Bank interest receivable 1 1 - -

185 185 183 183

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

5. RAISING FUNDS

Group Charity Group Charity 2019 2019 2018 2018 £ 000’s £ 000’s £ 000’s £ 000’s

Raising donations and legacies Staff costs 280 280 269 269 Telephone appeals - - 7 7 Printing and stationery 4 4 2 2 Office sundries 7 7 7 7 Collections, events, mailshots etc 74 74 80 80 Payroll giving 14 14 11 11 Bank charges 8 8 8 8 Legal fees 86 86 68 68 Committed giving costs 368 368 82 82 Database system costs 13 13 36 36

Trading activities Lottery operating expenses 2,152 - 2,165 - Staff costs 181 - 185 - Merchandising 7 - 2 - Printing and stationery 2 - 2 - Public Relations 48 - 56 - Motor expenses 6 - 7 - Office sundries 3 - 2 - Legal Fees 5 - 5 - Bank charges 61 - 61 -

3,319 854 3,055 570

Investment management costs

Support costs 37 37 36 36

Aggregate amounts 3,356 891 3,091 606

6. CHARITABLE ACTIVITIES COSTS

Grant funding Direct costs of activities Support costs Totals (See note 7) (See note 8) £'000 £'000 £'000 £'000 Air Ambulance - 352 - 352 Administrative Costs 62 - 54 116 Helipad construction - 4,466 - 4,466

62 4,818 54 4,934

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

7. GRANTS PAYABLE Group and Charity

201 9 2018 £'000 £'000

Air Ambulance 352 505 Helipad construction 4,466 4,689

4,818 5,194

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

7. GRANTS PAYABLE - continued

2019 2018 Recipients of Institutional Grants: £’000 £’000

Great Western Air Ambulance 6 375 Midlands Air Ambulance 352 430 Grimsby Hospital - 12 Kings College Hospital, London 500 250 Luton and Dunstable Hospital 500 500 Aintree Hospital, Liverpool 9 6 London's Air Ambulance 250 9 Devon and Exeter Hospital 500 - Royal Sussex Brighton Hospital 500 - Great North Air Ambulance 230 - Portree Isle of Skye Community Trust - 2 Ipswich Hospital - 125 Wiltshire Air Ambulance - 125 Central Manchester Hospitals 250 615 QMC, Nottingham (Refunded) - (750) Royal Sussex Brighton Hospital - 650 Sheffield Children’s Hospital 587 563 Hull & East Yorkshire Hospital 91 250 BASICS 250 - Royal Preston Hospital 111 - Scottish Ambulance Service 70 50 Robert Jones & Agnes Hunt Hospital, Oswestry - 4 Worcestershire Hospital 1 - East Anglian Air Ambulance, Addenbroke's - 25 Edinburgh Hospital - 350 St Georges Hospital, Tooting - 374 Raigmore Hospital, Inverness - 480 Bristol Royal Infirmary - 574 Maidstone & Tunbridge Wells Hospital 300 3 Torbay Hospital - 3 Whiston Hospital - 3 Campbeltown Hospital - 3 Carlisle Hospital - 3 Milton Keynes Hospital - 3 Barra Hospital - 16 West Suffolk Hospital - 6 West Midlands Care Team 30 - Portsmouth Hospital 29 - Dorset County Hospital (Dorchester) 28 - MAAC- critical car 1 and 2 131 136 Glan Clwyd Hospital 3 - Hastings Hospital 3 - Margate Hospital 3 - Royal Stoke Hospital 3 - Ashford Hospital 3 - Redhill Hospital 3 - Colchester Hospital 3 - St Mary's hospital 3 - New Cross Hospital 3 - Leicester Royal Infirmary 1 - Lincolnshire & Nottingham Air Ambulance 66 -

4,818 5,194

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

8. SUPPORT COSTS

Governance costs £'000 Administrative costs 54

Support costs, included in the above, are as follows:

Governance costs 2019 2018

Administrative Costs Total activities £'000 £'000 Trustees' expenses 1 1 Wages 9 9 Auditors' remuneration 7 5 Insurance 4 4 Postage and stationery 21 22 Sundries 12 10

54 51

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2019 2018 £'000 £'000 Auditors' remuneration 7 5

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2019 nor for the year ended 30 September 2018.

Trustees' expenses

In the year ended 30 September 2019 four trustees, Mrs A Brinton, Mr M Henriques, Mr P Harris and Mr J Jones were paid travel and accommodation expenses. Expenses reimbursed in the year totalled £1,257.

11. STAFF COSTS

2019 2018 £'000 £'000 Wages and salaries 488 481

The average monthly number of employees during the year was as follows:

2019 2018 Administration 5 4 Fund-raising 7 6

12 10

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2019 2018 £60,001 - £70,000 - 1 £80,001 - £90,000 - 1 £90,001 - £100,000 1 -

1 2

2019 2018

£'000 £'000

Wages and salaries comprise:

Gross wages and salaries 430 421 Employer’s National Insurance 41 42 Pension costs 18 18

488 481

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (FOR THE PREVIOUS YEAR)

2018 2018 2018 Unrestricted Restricted Total funds fund fund £'000 £'000 £'000 INCOME AND ENDOWMENTS FROM Donations and legacies 884 1,125 2,009

Other trading activities 6,272 20 6,292 Investment income 183 - 183 Other income 14 2 16

Total 7,353 1,147 8,500

EXPENDITURE ON Raising funds 2,945 146 3,091 Charitable activities Grants for Air Ambulance - 505 505 Administrative Costs 104 41 145 Grants for Helipad construction 4,689 - 4,689

Total 7,738 692 8,430

Net gains/(losses) on investments 202 - 202

NET INCOME (183) 455 272

RECONCILIATION OF FUNDS

Total funds brought forward 5,611 985 6,596

TOTAL FUNDS CARRIED FORWARD 5,428 1,440 6,868

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

13. FIXED ASSET INVESTMENTS

Listed investments £'000 MARKET VALUE At 1 October 2018 6,406 Additions 518 Disposals (879) Revaluations 373

At 30 September 2019 6,418

NET BOOK VALUE At 30 September 2019 6,418

At 30 September 2018 6,406

THE CHARITY – AS A SEPARATE ENTITY

Shares in Listed Totals group investments undertaking £ £ 000’s £ 000’s MARKET VALUE At 1 October 2018 1 6,406 6,406 Additions - 518 518 Disposals - (879) (879) Revaluations - 373 373

At 30 September 2019 1 6,418 6,418

NET BOOK VALUE At 30 September 2019 1 6,418 6,418

At 30 September 2018 1 6,406 6,406

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

13. FIXED ASSET INVESTMENTS - continued

The listed investments held as at 30 September 2019 were as follows:

2019 2018 Cost Market Cost Market Value Value £ 000’s £ 000’s £ 000’s £ 000’s UK Fixed Interest 1,340 1,441 1,340 1,375 Overseas Fixed Interest 453 478 550 546 UK Equities 1,113 1,386 1,124 1,280 Overseas Equities 1,551 2,203 1,715 2,194 Property Equities 254 310 254 300 Alternative Assets (Property) 510 600 647 711

5,221 6,418 5,630 6,406

Also as part of the investment portfolio £49,697 (2018 £40,290) is held and classified as cash held.

The company's investments at the balance sheet date in the share capital of companies include the following:

County Air Ambulance Trading Limited Nature of business: Fund raising through charity lotteries

% Class of share: holding Ordinary 100

2019 2018 £ £

Aggregate capital and reserves 1 1

(Loss)/profit for the period/year - -

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Group Charity Charity 2019 2018 2019 2018 £ 000’s £ 000’s £ 000’s £ 000’s

Trade creditors 64 69 65 67 Pensions creditor 2 1 1 1 Accrued expenses 8 8 5 5

74 78 71 73

15. MOVEMENT IN FUNDS

Net movement At 1.10.18 in funds At 30.9.19 £'000 £'000 £'000 Unrestricted funds General fund 5,428 619 6,047

Restricted funds Air Ambulance Support 1,440 128 1,568

TOTAL FUNDS 6,868 747 7,615

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement in resources expended losses funds £'000 £'000 £'000 £'000 Unrestricted funds General fund 7,982 (7,736) 373 619

Restricted funds Air Ambulance Support 682 (554) - 128

TOTAL FUNDS 8,664 (8,290) 373 747

REGISTERED COMPANY NUMBER: 03044061 (England and Wales) REGISTERED CHARITY NUMBER: 1057063 (England and Wales) REGISTERED CHARITY NUMBER: SC045963 (Scotland)

COUNTY AIR AMBULANCE TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2019

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2019.

17. PURPOSE OF FUNDS

Unrestricted Funds Unrestricted funds can be used in accordance with the charitable objectives of the Trust. Income received in respect of helicopter emergency landing pads and air ambulance support is generally treated as unrestricted funds.

Restricted Funds Restricted funds represent income received in respect of specific air ambulance services which must therefore be applied to that specific service.

18. DONATED FACILITIES

The charity receives free use of office space from South Staffordshire Water Plc on an informal lease. It is not considered possible to arrive at an accurate value for the donated use of these facilities for inclusion in the Statement of Financial Activities however the monetary value of the donation is not considered to be material in the context of the financial statements as a whole.

19. SUBSIDIARY UNDERTAKING

The subsidiary of the charitable company is County Air Ambulance Trading Limited, a company incorporated in England & Wales, registration number 08308860, whose registered office is situated at P O Box 999, Green Lane, Walsall WS2 7YX. The subsidiary is included in the consolidated accounts and the profit raised from its activities is donated to the charitable company. Its turnover for the year was £6,258,229 and its expenses (including the donation) amounted to £6,258,229.