## **Launceston Youth Partnership Limited** ## **Charity No. 1086738** **Company No. 04198875** **Trustees' Report and Unaudited Accounts** **31 May 2022** **Launceston Youth Partnership Limited Contents** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 5|| |Independent Examiner's Report||6| |Statement of Financial Activities||7| |Summary Income and Expenditure Account||8| |Balance Sheet||9| |Notes to the Accounts|10 to|17| |Detailed Statement of Financial Activities|18 to|19| Page 1 **Launceston Youth Partnership Limited Trustees Annual Report** ## The Orchard Centre The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 May 2022. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 04198875** ## **Charity No. 1086738** ## **Principal Office** The Orchard Market Street Launceston Cornwall PL15 8AU ## **Registered Office** The Orchard Market Street Launceston Cornwall PL15 8AU ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: A. Giudetti P. Orridge M. Young ## **Company Secretary** E.L. Gilbert ## **Accountants** Buttons Accounting Ltd Prospect House 11 Western Road Launceston Cornwall PL15 7AS Page 2 **Launceston Youth Partnership Limited Trustees Annual Report** ## **OBJECTIVES AND ACTIVITIES** Launceston Youth Partnership Limited, known as The Orchard Centre, is a public benefit entity. The Orchard Centre and the Charity have greatly expanded their support to the local youth and wider community. Despite the ongoing Covid restrictions, the building is thriving and hosting many new support groups who cannot operate as usual. Some have no access to existing premises due to the owners remaining closed, others are new initiatives to offer necessary support at this difficult time. Youth Club remained active via Zoom. A youth club still operates weekly, free of charge. Hosting of many activities and groups that benefit and support the community take place regularly. Offices remain rented to Charities to generate income although the need to increase this to continue to improve the premises after years of neglect by previous Trustees, has led to offering previously empty office space to small businesses seeking a rent that allows them to continue or start trading, but most importantly, be part of what is now seen as a thriving charity known as ‘The Orchard Business Community’. We have read and followed the Charity Commission Link – Being a Trustee and our Secretary forwards all necessary information to the Trustees. We encourage a variety of organisations to use the premises either free or at a greatly discounted rate if they are a not for profit organisation and provide a service for the benefit of the community. Volunteering includes the time from all trustees in the running of the charity, we have no paid staff. Gardening is undertaken by a volunteer on a regular basis as is maintenance unless needing a qualified contractor. This support from the community and businesses in our early years has enabled us to bring the charity to the attention of the town with many complimentary comments for the improving standard of the premises and the services we offer to the community. They feel welcome, appreciated, and supported by us. ## **ACHIEVEMENTS AND PERFORMANCE** The Charity still provides free use of premises for a weekly youth club and Trustees often support these sessions to enable them to have a greater understanding of the needs of the youth community. Launceston Street Pastors have free use on Saturday evening to oversee the safety of residents and users of the town and disperse potential incidents. They work with the Police and town CCTV. During covid and for the last year, the Memory Café were restricted by their governing body who would not allow them to operate and the premises they used remained closed. The Charity saw a great need for support for the carers and families and set up a weekly dementia support group. We helped several carers learn to use Technology which enabled them to keep in touch with families and see them on screens. A Sunday support group also emerged offering a space for those struggling with loneliness by being isolated and were not part of a ‘Bubble’. People needed CV’s writing and printing and the opportunity to job search, we provided free use of Wi-Fi and laptops. This expanded to Sunday lunches for a great part of the year as the need for companionship became obvious. We offered support whereby we suspended rent from individual businesses who would have failed to return to us after covid as they had no income to pay their bills. This not only secured our future income, but the jobs and future of our License Holders. The Trustees have strived to bring services and opportunities otherwise denied to the town, by proactively approaching organisations to run their much needed mental health support groups here. We are pleased to say, groups have now sprung up across North Cornwall after us being the first one and finding facilitators to run them. Page 3 ## **Launceston Youth Partnership Limited Trustees Annual Report** The Charity is driven by its Chairmans enthusiasm and time commitment, which is supported by all Trustees, to become involved in wider opportunities within the Town. She works closely with the Town Council, Cornwall Council and The Chamber of Commerce as the ‘Third Sector Organisation’ as this is often required for Government Grants and funding opportunities such as Levelling Up. This has a great benefit to all parties as sharing of ideas and being involved in plans to regenerate the town emerge. Knowing the town, its community, town council and how it can thrive, allows us to now look at developing a Grant Policy to provide grants to organisations or individuals who have the skills and staff that can deliver activities to the youth and wider community that financial hardship has prevented them from taking part previously. ## **FINANCIAL REVIEW** It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained in previous years and the level is rising. The Trustees consider they are now in a secure position to cope with a degree of loss of income and expect that in the following year, income will continue to rise and be regular which will sustain them in the loss of tenants. The Charity building is now fully occupied and has a list of tenants and groups wishing to be here. The Trustees' consider that they are now in a secure financial position to cope with a degree of loss of income and expect that in the following year, income will continue to rise and be regular which will sustain them in the event of loss of tenants. The Trustees’ have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The governing document of the charity is it's Memorandum and Articles of Association. The charity is a private company limited by guarantee without share capital. If the Charity at the meeting at which a trustee retires by rotation, does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to have been reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution for the reappointment of the trustee is put to the meeting and lost. No person other than a trustee retiring by rotation shall be appointed or reappointed a trustee at any general meeting unless: 1. He is recommended by the trustees; or 2. Not less than fourteen nor more than thirty-five clear days before the date appointed for the meeting, notice executed by a member qualified to vote at the meeting has been given to the Charity of the intention to propose that person for appointment or reappointment stating the particulars which would, if he were so appointed or reappointed, be required to be included in the Charity’s register of trustees together with a notice executed by that person of his willingness to be appointed or reappointed. Subject as aforesaid, the Charity may by ordinary resolution appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee and may also determine the rotation in which any additional trustees are to retire. Page 4 ## **Launceston Youth Partnership Limited Trustees Annual Report** The trustees may appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee provided that the appointment does not cause the number of trustees to exceed any number fixed by or in accordance with the articles as the maximum number of trustees. A trustee so appointed shall hold office only until the next following annual general meeting and shall not be taken into account in determining the trustees who are to retire by rotation at the meeting. If not reappointed at such general meeting he shall vacate office at the conclusion thereof. Subject as aforesaid, a trustee who retires at an annual general meeting may, if willing to act, be reappointed. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board P. Orridge Trustee 27 February 2023 Page 5 **Launceston Youth Partnership Limited Independent Examiners Report** ## **Independent Examiner's Report to the trustees of Launceston Youth Partnership Limited** I report to the charity trustees on my examination of the financial statements of Launceston Youth Partnership Limited for the year ended 31 May 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the financial statements have not been prepared in accordance with the Charities SORP (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Emma Gilbert ACCA Buttons Accounting Ltd Prospect House 11 Western Road Launceston Cornwall PL15 7AS 27 February 2023 Page 6 **Launceston Youth Partnership Limited Statement of Financial Activities** ## **for the year ended 31 May 2022** |**Unrestricted**
**funds**
**2022**
**Notes**
**£**
**Income and endowments**
**from:**
Donations and legacies
4
3,324
Other trading activities
5
39,007
**Total**
42,331
**Expenditure on:**
Raising funds
6
484
Other
7
39,772
**Total**
40,256
Net gains on investments
-
**Net (expenditure)/income**
9
2,075
Transfers between funds
-
**Net (expenditure)/income**
**before other gains/(losses)**
2,075
**Other gains and losses**
**Net movement in funds**
2,075
**Reconciliation of funds:**
Total funds brought forward
9,726
**Total funds carried forward**
11,801|**Unrestricted**
**funds**
**2022**
**Notes**
**£**
**Income and endowments**
**from:**
Donations and legacies
4
3,324
Other trading activities
5
39,007
**Total**
42,331
**Expenditure on:**
Raising funds
6
484
Other
7
39,772
**Total**
40,256
Net gains on investments
-
**Net (expenditure)/income**
9
2,075
Transfers between funds
-
**Net (expenditure)/income**
**before other gains/(losses)**
2,075
**Other gains and losses**
**Net movement in funds**
2,075
**Reconciliation of funds:**
Total funds brought forward
9,726
**Total funds carried forward**
11,801|**Restricted**
**funds**
**2022**
**£**
-
-|**Endowment**
**funds**
**2022**
**£**
-
-|**Total funds**
**2022**
**£**
3,324
39,007|**Total funds**
**2021**
**£**
28,259
30,433| |---|---|---|---|---|---| |||-
274
-|-
-
2,507|42,331
758
42,279|58,692
2,307
55,905| ||40,256
-|274
-|2,507
-|43,037
-|58,212
-| |||(274)
-|(2,507)
-|(706)
-|480
-| ||2,075|(274)|(2,507)|(706)|480| ||2,075
9,726|(274)
274|(2,507)
154,371|(706)
164,371|480
163,891| ||11,801|-|151,864|163,665|164,371| Page 7 **Launceston Youth Partnership Limited Summary Income and Expenditure Account** ## **for the year ended 31 May 2022** |Income
**Gross income for the year**
Expenditure
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2022**
**£**
42,331
42,331
40,383
147
40,530
1,801
1,801|**2021**
**£**
58,692| |---|---|---| |||58,692| |||57,358
854| |||58,212| |||480| |||480| Page 8 **Launceston Youth Partnership Limited Balance Sheet** ## **at 31 May 2022** |**Company No.**
**04198875**
**Notes**
**2022**
**£**
**Fixed assets**
Tangible assets
13
152,451
152,451
**Current assets**
Debtors
14
397
Cash at bank and in hand
35,138
35,535
**Creditors:**Amount falling due within one year
15
(24,321)
**Net current assets**
11,214
**Total assets less current liabilities**
163,665
**Net assets excluding pension asset or liability**
163,665
**Total net assets**
163,665
**The funds of the charity**
**Restricted funds**
17
Endowment funds
151,864
Restricted income funds
-
151,864
**Unrestricted funds**
17
General funds
11,801
11,801
**Reserves**
17
**Total funds**
163,665|**2021**
**£**
155,105| |---|---| ||155,105
133
11,931| ||12,064
(2,798)| ||9,266
164,371| ||164,371| ||164,371| ||154,371
274| ||154,645
9,726| ||9,726| ||164,371| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 May 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 27 February 2023 And signed on its behalf by: P. Orridge Trustee 27 February 2023 Page 9 **Launceston Youth Partnership Limited Notes to the Accounts** ## **for the year ended 31 May 2022** - 1 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 10 **Launceston Youth Partnership Limited Notes to the Accounts** ## **Expenditure** Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Tangible fixed assets and depreciation** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Freehold property 2% Straight line Fixtures and Fittings 20% Reducing balance ## **Stocks** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other 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. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Page 11 **Launceston Youth Partnership Limited Notes to the Accounts** ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other 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. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. ## 3 **Statement of Financial Activities - prior year** |**Income and endowments from:**
Donations and legacies
Other trading activities
**Total**
**Expenditure on:**
Raising funds
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
25,678
30,433
56,111
889
54,316
55,205
906
906
906
8,820
9,726|**Restricted**
**funds**
**2021**
**£**
2,581
-
2,581
1,418
889
2,307
274
274
274
-
274|**Endowment**
**funds**
**2021**
**£**
-
-
-
-
700
700
(700)
(700)
(700)
155,071
154,371|**Total funds**
**2021**
**£**
28,259
30,433| |---|---|---|---|---| |||||58,692
2,307
55,905| |||||58,212| |||||480| |||||480| |||||480
163,891| |||||164,371| Page 12 **Launceston Youth Partnership Limited Notes to the Accounts** ## 4 **Income from donations and legacies** |Grant from Town Council
General donations
NFU Mutual
Recovery Cafe
5
**Income from other trading activities**
Office rents received
Parking permits
6
**Expenditure on raising funds**
_Costs of generating voluntary_
_income_
Grant from Town Council
General donations
Recovery Cafe
7
**Other expenditure**
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs|**Unrestricted**
**£**
442
-
42
484
**Unrestricted**
**£**
148
2,479
33,713
147
2,811
474
39,772|**Unrestricted**
**£**
3,044
280
-
-
3,324
**Unrestricted**
**£**
37,956
1,051
39,007
**Restricted**
**£**
274
-
-
274
**Endowment**
**£**
-
-
-
2,507
-
-
2,507|**Total**
**2022**
**£**
3,044
280
-
-
3,324
**Total**
**2022**
**£**
37,956
1,051
39,007
**Total**
**2022**
**£**
716
-
42
758
**Total**
**2022**
**£**
148
2,479
33,713
2,654
2,811
474
42,279|**Total**
**2021**
**£**
26,153
677
929
500| |---|---|---|---|---| |||||28,259| |||||**Total**
**2021**
**£**
29,545
888| |||||30,433| |||||**Total**
**2021**
**£**
796
889
622| |||||2,307| |||||**Total**
**2021**
**£**
30
849
50,336
854
3,349
487| |||||55,905| Page 13 **Launceston Youth Partnership Limited Notes to the Accounts** ## 8 **Exceptional expenditure** During the financial year £20,750 was incurred on significant repairs to the roof of The Orchard Centre building. The decision was taken to improve the facilities internally to encourage new tenants which in turn would then provide income to make more substantial repairs. The roof was the original from when the building was constructed - 1972 the felt had reached the end of its life and had already been replaced the year before. The cracked roof tiles had not been repaired or replaced along with leaking lead gullies. The tiles had been letting in water slowly for years, resulting in stains on ceilings in many areas. This had also allowed water to cause damage and failure to the roof batons which had rotted and also collapsed due to the weight of the tiles and punctured the felt. Extensive repairs were necessary to prevent further damage and rotten roof timbers which would have had severe consequences for the safety and structure of the roof. The figure is included in premises costs. ## 9 **Net (expenditure)/income before transfers** ||**2022**|**2021**| |---|---|---| |This is stated after charging:|**£**|**£**| |Depreciation of owned fixed assets|2,654|854| |Independent Examiner's fee|474|474| |**Trustee remuneration and expenses**||| |One or more of the trustees has been paid|expenses in the current or prior periods.|| ||**2022**|**2021**| ||**Number**|**Number**| |Number of trustees paid expenses|1|1| |The nature of the reimbursed expenses|Travelling expenditure and reimbursement of|other| ||expenditure relating to charitable activities.|| ||**£**|**£**| |Total expenses reimbursed to trustees|2,479|849| ## 10 **Trustee remuneration and expenses** ## 11 **Volunteer services** All trustees are volunteers providing support over an above their duties as trustee. The charity has the services of two local Town Council employees who act as support in a non voting capacity and they and one additional volunteer that attends all meetings. The charity has many links with local organisations and third party sectors and support those seeking work experience on a volunteer basis, self confidence and an opportunity to help the community as well as proving a willingness to work. The charity has used the services of a volunteer gardener and woodworker and additional volunteers to support events or activities. ## 12 **Staff costs** No employee received emoluments in excess of £60,000. Page 14 **Launceston Youth Partnership Limited Notes to the Accounts** ## 13 **Tangible fixed assets** |**Cost or revaluation**
At 1 June 2021
At 31 May 2022
**Depreciation and**
**impairment**
At 1 June 2021
Depreciation charge for the
year
At 31 May 2022
**Net book values**
At 31 May 2022
At 31 May 2021
14 **Debtors**
Trade debtors
Other debtors
15 **Creditors:**
amounts falling due within one year
Other loans
Trade creditors
Other creditors
Deferred income
16 **Deferred Income**|**Land and**
**buildings**
**£**
165,371
165,371
11,000
2,507
13,507
151,864
154,371
**2022**
**£**
397
-
397
**2022**
**£**
3,500
17,145
869
2,807
24,321|**Fixtures and**
**Fittings**
**£**
10,067
10,067
9,333
147
9,480
587
734|**Total**
**£**
175,438| |---|---|---|---| ||||175,438| ||||20,333
2,654| ||||22,987| ||||152,451| ||||155,105| ||||**2021**
**£**
-
133| ||||133| ||||**2021**
**£**
-
373
28
2,397| ||||2,798| ||||| _Movement of the deferred income shown in Creditors: amounts falling due within one year_ |At 1 June
Released in current year
Deferred in current year
At 31 May|**2022**
**£**
2,397
(2,397)
2,807
2,807|**2021**
**£**
782
(782)
2,397| |---|---|---| |||2,397| Income received in advance for a rents due in a later accounting period are deferred until the criteria for income recognition are met. Page 15 **Launceston Youth Partnership Limited Notes to the Accounts** ## 17 **Movement in funds** |**At 1 June**
**2021**
**Restricted funds:**
**Endowment funds:**
The Orchard Centre
154,371
_Total_
154,371
**Restricted income funds:**
Community chest
274
_Total_
274
**Unrestricted funds:**
**General funds**
9,726
**Total funds**
164,371
Purposes and restrictions in relation to the funds:|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
-
-
-
-
42,331
42,331|**Resources**
**expended**
**£**
(2,507)
(2,507)
(274)
(274)
(40,256)
(43,037)|**At 31 May**
**2022**
**£**
151,864| |---|---|---|---| ||||151,864| ||||-| ||||-| ||||11,801| ||||163,665| ||||| |Endowment funds:|||| |The Orchard Centre
Land and buildings
Restricted funds:
Community chest
Youth activities|||| ||||| ||||| ||||| ## 18 **Analysis of net assets between funds** |Fixed assets
Net current assets|**Unrestricted**
**funds**
**£**
587
11,214
11,801|**Restricted**
**funds**
**£**
0
-
0|**Endowment**
**funds**
**£**
151,864
-
151,864|**Total**
**£**
152,451
11,214| |---|---|---|---|---| |||||163,665| Page 16 **Launceston Youth Partnership Limited Notes to the Accounts** ## 19 **Reconciliation of net debt** |Cash and cash equivalents
Borrowings
Net debt|**At 1 June**
**2021**
**£**|**Cash flows**
**£**|**At 31 May**
**2022**
**£**| |---|---|---|---| ||11,931|23,207|35,138| ||11,931
-
-
11,931|23,207
(3,500)
(3,500)
19,707|35,138
(3,500)| ||||(3,500)| ||||31,638| ||||| |20 **Related party disclosures**
**_Transactions with related parties_**
_Name of related party_
Prospect House Garden CIC
_Description of relationship_
_between the parties_
Mutual trustees who have significant
influence over both charities.
_Description of transaction_
_and general amounts_
_involved_
During the set up phase of Prospect House
Garden CIC a grant was applied for but
Prospect House Garden CIC did not have a
bank account ready to receive the funds. It
was agreed that Launceston Youth
Partnership Limited would hold the funds on
trust until Prospect House Garden CIC was
able to receive the grant. The final
transaction occured on 29th June 2022.
_Amount due from/(to) the related party_
**_Controlling party_**||**2022**
**£**
(869)|| The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 17 **Launceston Youth Partnership Limited Detailed Statement of Financial Activities** ## **for the year ended 31 May 2022** |**Income and endowments from:**
Donations and legacies
Grant from Town Council
General donations
NFU Mutual
Recovery Cafe
Other trading activities
Office rents received
Parking permits
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Grant from Town Council
General donations
Recovery Cafe
**Total of expenditure on raising**
**funds**
Employee costs
Staff entertainment
Staff welfare
Motor and travel costs
Travel and subsistence
Premises costs
Rates
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance|**Unrestricte**
**d funds**
**2022**
**£**
3,044
280
-
-
3,324
37,956
1,051
39,007
42,331
442
-
42
484
484
35
113
148
2,479
2,479
467
4,517
1,670
1,725
25,334
33,713|**Restricted**
**funds**
**2022**
**£**
-
-
-
-
-
-
-
-
-
274
-
-
274
274
-
-
-
-
-
-
-
-
-
-
-|**2022**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total funds**
**2022**
**£**
3,044
280
-
-
3,324
37,956
1,051
39,007
42,331
716
-
42
758
758
35
113
148
2,479
2,479
467
4,517
1,670
1,725
25,334
33,713|**Total funds**
**2021**
**£**
26,153
677
929
500| |---|---|---|---|---|---| ||||||28,259| ||||||29,545
888| ||||||30,433| ||||||58,692
796
889
622| ||||||2,307| ||||||2,307
-
30| ||||||30| ||||||849| ||||||849| ||||||805
3,182
2,432
1,648
42,269| ||||||50,336| General administrative costs, including depreciation and amortisation Page 18 **Launceston Youth Partnership Limited Detailed Statement of Financial Activities** |Depreciation of land and
buildings
Depreciation of Fixtures and
Fittings
Equipment leasing and hire
charges
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net (expenditure)/income**
**Net (expenditure)/income before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|-
147
34
444
952
454
-
927
2,958
474
-
474
39,772
40,256
-
2,075
2,075
-
2,075
9,726
11,801|-
-
-
-
-
-
-
-
-
-
-
-
-
274
-
(274)
(274)
-
(274)
274
-|2,507
-
-
-
-
-
-
-
2,507
-
-
-
2,507
2,507
-
(2,507)
(2,507)
-
(2,507)
154,371
151,864|2,507
147
34
444
952
454
-
927
5,465
474
-
474
42,279
43,037
-
(706)
(706)
-
(706)
164,371
163,665|700
154
-
464
1,483
432
250
720| |---|---|---|---|---|---| ||||||4,203| ||||||474
13| ||||||487| ||||||| ||||||55,905| ||||||58,212
-| ||||||480| ||||||480
-| ||||||480| ||||||163,891| ||||||164,371| Page 19