Originally Posted by
Hedski
somehow have managed to fund a new AW169
Originally Posted by
Hedski
Maybe just maybe there’s a journalist gathering the info as we speak.....
Good journalists in this field will already know all this. Plus they will have looked at
the latest MAGPAS accounts, thinking that they can't even afford to run an MD902, let alone an AW169
The latest numbers are for 18 months (to Jun18) compared to 12 (to Dec16). The income figure includes a LIBOR grant of £1M which is restricted for use to build an airbase (note 16, and
the Chancellor's Autumn Statement), but £981,154 (somehow??) gets moved from Restricted to Unrestricted Funds. Without that £1M, the Income & Expenditure Account would show a net loss of -£150K for 18 months, compared to a net loss of -£140K for the previous 12 months.
Looking at the Balance Sheet, the net assets show £866K. Without the LIBOR money that would be -£134K.
To fund the newly-arrived AW169, one can only assume that MAGPAS have received an extraordinary amount of non-restricted donations since 30th June 2018, in which case they are to be applauded. I look forward to the accounts for the year to 30th June 2019 to confirm this.