Newby Castleman flies in to help Vulcan Bomber
Financial advice from Leicester’s leading accountants is helping to keep Britain’s last Vulcan Bomber in the air.
Vulcan to the Sky, a Hinckley-based charity that has restored the last flying Avro Vulcan aircraft (XH588) and relies largely on public donations, has called on Newby Castleman to help its finances, and aircraft, continue to soar.
Michael Trotter, Business Development Director, comments: “Following an initial grant from the Heritage Lottery Fund, which made a significant contribution to the aircraft’s restoration funding to keep the Vulcan Bomber flying now comes from public support and sponsorship.
We launch appeals every summer, hold raffles, sell merchandise and recoup fees from air shows in order to provide us with various income streams.
As a registered charity we have a duty to go out to tender every three to four years and we felt strongly that the pitch from Newby Castleman was the best we received.
The service we have received has been first-class and while we have largely worked with the company for our audit, we have also been able to seek specialist advice on VAT and anything within the remit of the audit.
A significant part of our income comes from Gift Aid, which allows us to increase the value of donations by reclaiming the tax, and Newby Castleman has assisted us with securing this vital income stream.”
While the Vulcan’s flying days may come to an end in 2015, the Vulcan to the Sky team will continue to celebrate and promote this innovative British aircraft, meaning fundraising efforts will continue long after the aircraft is grounded.
Michael adds: “Aircraft built in the 1940s and 1950s are allocated a set number of flying hours, so we are only able to fly the Vulcan Bomber up until 2015; this of course, is dependent on us continuing to raise enough funds to do so.
“We are also working on a legacy project, that will hopefully inspire young people to become engineers, and this will be launched following the Vulcan Bomber’s last flying season in 2015.”
Paul Barnett, Charities Partner at Newby Castleman, comments: “It is always a pleasure to work with local charities and to be able to provide advice and support that really makes a difference.
By conducting a review of Vulcan to the Sky’s financial systems, we have recommended opportunities to improve their performance, which will in turn help increase its fundraising efforts.”
For forward thinking business advice please contact Newby Castleman’s head office on 0116 254 9262 or their Loughborough office on 01509 263 500.
Newby Castleman is one of the UK’s leading independent accountancy practices offering a range of specialist financial services, business and tax advice for individuals and businesses. Its head office can be found on Regent Road, Leicester and a branch office is located in Forest Road, Loughborough. To find out more about its full portfolio of services, download the free Newby Castleman app from The App Store or Google Play, telephone the Leicester branch on 0116 254 9262, the Loughborough branch on 01509 263500 or visit the website at www.newbycastleman.co.uk.