2010 annual report and accounts - PDF 700KB - RAF Benevolent ...

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Notes to the Financial Statements continued2. Donations and gifts2010 2009£’000 £’000a. Royal Air Force voluntary incomeService personnel 1,937 1,720Stations and units 15 219Battle of Britain “At Home Days” 204 1482,156 2,087b. Other voluntary incomeGeneral donations 2,538 1,878Polish Air Force 250 -Royal Air Forces Association 3 732,791 1,9514,947 4,0383. Investment income2010 2009£’000 £’000Interest receivable 61 72Dividends receivable from equity shares 1 3Dividends receivable from investments and unit trusts 2,847 3,5672,909 3,6424. Other income2010 2009£’000 £’000Profit on sale of fixed assets 1,218 924Pension interest income 384 -Administration fee 339 331Rental of office space 21 12Administration recovery 8 95a. Total resources expended1,970 1,276Other OtherStaff Direct Allocated 2009Costs Costs Costs 2010 (Restated)£’000 £’000 £’000 £’000 £’000Cost of generating voluntary incomeDonations 609 1,115 799 2,523 2,087Legacies 49 122 160 331 217Investment management costsInvestment management fee - 383 - 383 314Custodian Trustee fee - 19 - 19 14Cost of charitable activitiesGeneral welfare 1,375 13,566 1,696 16,637 14,446Education 30 50 19 99 327Housing 353 1,715 344 2,412 2,764Residential homes 1,430 2,462 466 4,358 3,708Pension interest expenditure - - - - 77Governance - 191 100 291 303Total resources expended 3,846 19,623 3,584 27,053 24,25720 The Heart of the RAF family
5b. Other allocated costsGroup Group2010 2009£’000 £’000Salaries 1,441 1,275Overheads and depreciation 2,143 1,1143,584 2,3895c. Net outgoing resources are stated after chargings2010 2009£’000 £’000Audit fees – current year 34 33Audit fees – other 23 6Custodian Trustee 19 13Investment management fees 383 314Solicitor/surveyors 195 181Depreciation 895 7936. Trustees’ remunerationThe Trustees neither received nor waived any emoluments during the year 2010 (2009: £NIL)Out of pocket expenses were reimbursed to Trustees as follows:2010 2009 2010 2009Number Number £ £Travel 5 4 3,722 1,863During the year payments of £68,727 were made to Charles Russell Solicitors for professional services.Mr Michael Scott, a partner in the firm, is a Director and Trustee of the RAFBF Housing Trust Ltd.7. Staff costs2010 2009£’000 £’000Wages and salaries 4,739 4,381Social security costs 429 393Pension costs 867 5116,035 5,285The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the year was as follows:2010 2009Number Number£60,001 – £70,000 - 1£70,001 – £80,000 3 1£80,001 – £90,000 1 2£90,001 – £100,000 1 1£100,000 – £110,000 1 -The Controller is required to occupy residential accommodation as a condition of his employment. As agreed with HMRC, he meets theutilities costs associated with his occupation of the property personally and is taxed on the equivalent rental value as a benefit in kind.Three employees earning more than £60,000 participated in the final salary pension scheme.The average number of employees, calculated on a full-time equivalent basis, analysed by function was:2010 2009Number NumberCharitable activities 125 125Cost of generating funds 20 19Governance, administration and support 25 25RAFBF Report and Accounts 21
Page 1 and 2: Royal Air Force Benevolent FundTrus
Page 3 and 4: ContentsChairman’s Report 02Contr
Page 5 and 6: Lizzie’s storyLizzie Tandy lives
Page 7 and 8: Jim’s storyJim Vidler, 88, served
Page 9 and 10: Trustees’ ReportThe Board of Trus
Page 11 and 12: Support to the ex-Serving Community
Page 13 and 14: This return was reduced by the Fund
Page 15 and 16: Independent Auditor’s ReportWe ha
Page 17 and 18: Unrestricted Restricted Endowed Gro
Page 19 and 20: ConsolidatedCash Flow Statementfor
Page 21: Tangible fixed assets and depreciat
Page 25 and 26: 8. Pension commitments continuedCha
Page 27 and 28: 11. Fixed asset investments2010 200
Page 29 and 30: 16. Subsidiary entitiesThe results
Page 31 and 32: Restricted Income FundsThese funds
Page 33 and 34: Support to the veterans’ communit
Page 35: Flight Lieutenant Andy Costin, feat

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