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

Notes to the Financial Statements continued14. Statement of fundsAt 1 January Incoming Resources Investment At 31 December2010 Resources Expended Gain Transfers 2010£’000 £’000 £’000 £’000 £’000 £’000General reserve 133,608 17,844 (26,856) 9,871 (5,272) 129,195Designated funds 10,000 - - - 5,272 15,272Total unrestricted funds 143,608 17,844 (26,856) 9,871 - 144,467Restricted income funds – see schedule page 29 1,052 144 (197) - - 999Endowment funds – see schedule page 28 4,031 - - 457 - 4,488Pension reserve (6,334) 384 - 729 - (5,221)Total funds 142,357 18,372 (27,053) 11,057 - 144,733Designated fundsThe sum of £7.0m has been designated for the refurbishment of the Charity’s head office and is included in the total unrestricted funds.The sum of £6.4m has been designated for Station Childcare Facilities (Multi Use Games Area Project Plan) and is included in the total unrestricted funds.The sum of £1.5m has been designated for the Head Office Future Building Fund and is included in the total unrestricted funds.The sum of £0.4m has been designated for the upgrading of the Charity’s computer system and is included in the total unristricted funds.Restricted income funds – Over £100,000Fulmer FundGulf TrustEndowment funds – Over £100,000Viscount NuffieldPeter Henry Slater-EiggertE H JubbNewton DriverRAFBF Educational Endowment FundHector Pilling Memorial FundRAF Prize FundRAFBF Educational Expendable Fund15. Analysis of group net assets between fundsTo offer relief to wives of RAF Officers in need of maternity or post-natal services.The funds are held in a ring-fenced fund for the benefit of RAF Gulf War Veterans.Income used for general purposes.Memorial Fund for the benefit of ex-members and dependants of 83 Squadron.For the benefit of Aircrew, their widows and dependants.Memorial fund for the general purposes of the fund and the upkeep of the property at Rustington.To promote the education of the children of members of the Royal Air Force.To provide financial assistance for foundationers at the Duke of Kent School.To help with the education of dependants of deceased members of the RAF killed on duty or attributable to Service.To promote the education of the children of members of the Royal Air Force.Unrestricted Restricted Endowment TotalFunds Funds Funds Funds£’000 £’000 £’000 £’000Fund Balances at 31 December 2010 are represented by:Tangible fixed assets 34,531 193 - 34,724Loans to beneficiaries 16,027 187 - 16,214Investments 86,813 - 4,488 91,301Current assets 9,062 724 132 9,918Current liabilities (1,966) (105) (132) (2,203)Pension liability (5,221) - - (5,221)Total net assets 139,246 999 4,488 144,73326 The Heart of the RAF family