Launceston Youth Partnership Limited Charity No. 1086738 Company No. 04198875 Trustees. Report and Unaudited Accounts 31 May 2023 11111 111 •ACW35KII* 3110112024 COMPANIES HOUSE A7
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Launce5ton Youth Partnership Limited Conlents Pages 2to5 Trustees, Annual Report Independent Examiner's Repgrt Statement of Financial Artivities Summary Income and Expenditure Account Balance Sheet Notes to the Accounts IOto17 Oetailed Statement of Financial Activities 18to19 Page I
Latsnteston Youth Partnership Limited Trustèes 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 ststements of the charity for the year ended 31 May 2023. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 04198875 Charlty No. 1086738 Principal oifi¢e The Orchard Maiket Street Launceston Cornwall PL15 8AU RegSstered Office The Orchard Market Street Launce5ton Cornwall PLIS 8AU Dire¢tors and Trustees The Directors of the ¢haritablÈ company are its Trustees for the purposes ot charity law. The followin8 Directors and Trusttes served during the yÈar= A. Giudetti P. Orridge M. Youn8 Company Secretary E.L. Gilbert Accountsnts Buttons Accounting Ltd Prospect House 11 Western Road Launceston Cornwall PL15 7AS OBJECTIVES AND ACTIVITIES Launce5ton Youth Partnership Limited. known a5 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 cornmunity. The building continues to thrive and host many new support groups. Page 2
Launceston Youth Partnership Limited Trnstees Annual Report A youth club operates weekly but will move to therr dedicated premisÈs later thrs year. Hosting of many activities and groups that benefit and support the community take place regularly. Offices remain rented to Charities to generate intome 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 a5 The Oichard Business Community,. We have read and followed the Charity Comrnission Link- Being a Trustee and our Secretary forwards all necessary information to the Trustee5. We encoura8e 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. Vol¢Jnteering includes the time from all trustees in the running of the ¢harity,with the Chairman often Spending in excess of 20 hours a week to ensure the bullding and thaTity is run effitiently. We have no paid staff. Gardening is undertaken by a volunteer on a regular ba51S a5 15 maintenance unle55 needing a qualified contractor. However. our income now allows us to look at appolnting a self-employed facilities manager to oversee this area and lessen the load on the Chairman. Thrs 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 premises are used for a weekly youth club Ithis will relocate in August 20231 and Trustees often support these sessions to enable them to have a greater understanding of the needs of the youth community- In April. the trustees and volunteers started a new youth group for year 6 pupils after oncerns from schools and parents at the difficulties mowing into college especially from smaller schools tsr those outside of the town. This has been very 5UCtessful and although was only for one term, parents and members have made good relationships with the adults and the member5 feel very confident and supported with us. They have shared tonterns and family situations and benefit from a small group where we always have time to listen to them. They have asked of they can contit)ue in September. whtch will be discussed by those runnin8 to ste if they can commit to this long term. The Charity will review if it is in a position to fund a youth leèder to relieve the responsibility of organisation and weekly running rom the trustees and volunteers. Launceston Strèet Pastors have free use on Saturday evening to oversee the safety of residents nd users of the town and disperse potential incidents. They work with the Police and town CV. Our Chairman has beèn asked to join the CCTV committee to Cfeate links with them as they tonsist of Police. Community or83nisations and the ccrv operators as well as a local councillor and there are concerns ftrr thè growing youth population that are catjsing distiJrbance5. The Mewnory Café have returned to their former regular meetings and premises. the smaller group e5tabli5hed durin8 lockdown. Still wished to meet here and we have accommodatèd thèm again as manv people with dementia do not cope well in a noisy. busy environment. Adult Day Care changed the model they work to and they gave notrce, they were immediately replaced by Step into Learnrng who wished to relocate to the town and they are now the main income stream as they continue to grow. They are very community minded and the co-operation between u5 15 proving to be mutually beneficial. They offer free Counselling. training tourse5 and upskilling to improve peoples chances of returning to or starting work for the first time. The opportunity to refer people to them from other orKani5ations that operate from our centre, ha5 proved very beneficial to those clients. Page 3
unceston Youth Partnership Limited Trustees AThnv31 Report The Tnjstees have Strived to bring services and opportunitie5 Otherwise denied to the town, by proactively approaching organisations io run their much needed mental health SLJPPOrt groups here. We are pleased to say, groups have now sprung up across North Cornwall after us being the first one and finding lacilitators to run them. ManDown has now grown in group number5 and Launce5ton can see the p051tÈve impact they have and our own facilitator was one of the first members of our group which speaks for itself. Being part of the Warm Bank initiative during the winter and working with the Town Covncil and specifically the Library Manager, we put together an application for funding and 5UPPOrted many clients with a wam) space, free Wi-Fi, a meal and cornpany. This was $0 successful we are part of this initative in the current year 120231 with additional funding to allow us to support the community in many different Wav5 as the Volunteer Corllwall rèports indicated the need for different support networks in the town. The Charity is driven by its Chairmans enthusiasm and time commitmen¢ which is supported by all Trustees, to become involved in wider opportunitie5 Wlthin thÈ Town. She works closely with thè Town Council, Cornwall Council and The Chamber of Commerce a5 the Third Sector Organisation, a5 thi5 is often required for Government Grants and funding opportunities such as Levelling Up. She is part of the newly formed Launceston Town Plon Group and is a highly resperted member of this ènd the community. This has a great benefit to all parties as sharing of ideas and being involved in plans to regenerate the town emerge. We were part of a successful bid to improve the pedestrian areas and planters and currently involved in 8reater plans for the town with the next funding opportunity from the 8ovemment. Knowing the town. its community, town council and how it can thrive, allowed us to fulfil last yearf5 plan5 to develop 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 cornmunity, that financial hardship has prevented them from taking part previously. This was discussed at the 2022 AGM and agreed we would seè what level of funding we could allocate to this and set a maximum grant of £500 with the average being in the region of £ll)>250. At the 2023 AGM we will look at the total amount used in this way and plan accordingly. The Trustees continue to maintain the buildin8 to the highest standards which Benerate5 a large degree of respect for the Premises from tenants. occasional users and visltors alike. We have replaced several old radiators and plan to renew the flooring in the cafe. kitchen and entrance area during the summer. The programme of internal redecoration will continue around the use of the building and the remainin8 area of unpairtted eernal walls wll also be completed. FINANCIAL REVIEW It 45 the policy of the Charity that unrestricted funds which have not been designated for a specifi¢ use should be maintained at a level equivalent to between three- and six-month's expenditure. The Trustees onsider thai reserves at this level will ensure that. in the event of a significant drop in fundin& they will be able to continue the Charivs current activitie5 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 15 rising. The Trustees consider they are now in a secure position to cope with a degree ofloss of income and expect that in the following year, income will continue to rise and be regular which will 5UStain them ift the1055 of tenants. The Charity building remain5 fully occupied and has a list of tenants and groups wishing to be here. The Trustee5' 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 Charbty is exposed and are satisfied that system5 are in place to mitigate exposure to the major risks. Page 4
Launceston Youth Partnershrp Limited Trustees Annual Report STRucfuRE. GOVERNANCE AND MAf4AGEMENT rhe governing document of the charity is it's Memorandum and Articles of Assotiation. The charity is a private cornp3ny limited by guarantee without share capital. If the Charity at the meeting at which a trustee retires by rotation. does not fill the vacartcy the retiring trustee shall, if willing to att. be deemed to have been reappointed unless at the meeting it is resolved not to fill the vatancy or unlèss a rÈsolutbon for th2 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 rneetinE unless.. l. He 15 recommended by the trustees.. or 2. Not less than fourteen nor more than thirty-re clear days before the date appointed for the meetin& notice executed by a member qualified to vote at the meetinE ha5 been given to the Charity of the intentyon to propose that person for appointment or reappointment stating the particular5 which would, if he were so appointed or reappointed, be required to be included in the Charity's re8i5ter of trystees together with a notice executed by that person of his willingness to be appointed or reappointed. Subject as aforesaid. the Charity may by ordinary rtsotuti¢>n appoint a pèrson who is willin8 to art to be a trustee either to fill a vacancy or as an additional trustee and may also detemiine the rotation in which any additional trustees are to retire. 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 trvstees to exceed any number fixed by or in accordance with the articles as the maximum number of trustèes. A trustee so appointed shall hold office only until the next following annual general meetin8 and shall not be taken into account in determining the triJ5tees who are to retire by rotation at the meèting. If not reappointed at such general meeting he shall vacate office at the conclusion thereof. Subject a5 aforesaid. a trustee who retires at n annual 8eneral meeting may. if willing to act. be reappoFnted. The Trustees are responsible for keepin8 proper accountlft8 record5 that disclose with reasonable accuracy at any time the financial position of the tharity and io enable them to ensure that the financial statements comply with the Companies Act 2CKJ6. The TreeS are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irfegularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regimt as sèt out in Part 15 of thè Companies Act 2ry)6 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board P. Orridge Trustee 31 May2023 Page 5
L*unceston Youth Partnership lirnited Independènt Examlnèrs Report Independent Examlner's Report to the trustees of Launce5ton Youth Partnership Llmited I report lo the charity trustees on rny examination of the financial statements ol Launce5ton Youth Partnership Limited for the year ended 31 May 2023. Respon5ibilitres and basls of report As the charity's trustees of the cornpany land also its direttors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2fy)6 Act. Having satisfied myself that the financial statement5 of the Charity are not required to be audited under Part 16 01 the 2(K)6 Act and are eligible for independent examination. I report in respect of my examination of your charity's financial statements as tarried out under section 145 of the Charities Act 20111.the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commi55ion under section 145151 Ibl of the 2011 Act. Independent examlner's statement I have completed my examination. I can confirm that no material matter5 have come to my attention in connèction with the examination giwng me cause to believe: accounttng records were not kept ITr 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. vièw which is not a Matter considered as part of an independent eKamination- or the financial statements have not been prepared in accordance with the methgd5 and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their 3ccount5 in a¢¢ordènce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FAS 1021. I have no concerns and have come across no other rnatter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper undÈrstanding of the financl31 statements to be reached. Emma Gilbert ACCA Buttons Accounting Ltd Prospert House 11 Western Road Laun¢eston Cornwall PL15 7AS 31 May 2023 Page 6
Launceston Youth Partnership Limited statement of Financlal Actiwties for the year endèd 31 May 2023 U*restricted Endowment nds funds Total funds Total fvnds 2023 2023 2022 2023 Notes Income and endowments trom.. Donations and legacies Other trading activities Other 137 137 3.324 39.007 42,636 156 42,636 156 Total 42.929 42,929 42,331 Expenditure on: Raising funds Charitable activities Other 758 2.365 27.414 2,365 29,921 2,507 42,279 Total 29.779 2,507 32.286 43,037 Net gains on investments Net incomellexpenditurel Transfers between funds io 13,150 12,5071 10,643 17061 Net incomellexpenditurel before othef galn5lllosses) 13.150 12,5071 10,643 17061 other 8ains and lows Net movement in fvnds 13,150 12.5071 10.643 17061 Reconciliation of funds: Total funds brought fonvard 11.801 151.864 163.665 164.371 Total funds ¢arrled lorward 24.951 149.357 174,308 163,665 Page 7
Launceston Youth Partnership L5mited Summary Income and Expenditure Account tor the year ended 31 May 2023 2023 2022 Income 42.929 42,331 Gross income for the year Expenditure 42.929 42,331 29.661 40.383 Depreciation and charges for impairment of fixed assets 118 147 Total expenditure for the year Net income before tax for the year 29.779 40.530 13.150 1.801 et income for the year 13,150 1.801 Page 8
Launceston Youth Partnership Limitèd balan¢e Sheet at 31 May 2023 Company No. 04198875 Notes 2023 2022 Fimed assets TangiblÈ assets 13 149.826 149,826 152.451 152,451 Current assets Debtors Cash at bank and in hand 14 2,143 31.679 33,822 19.3401 24.482 397 35,138 35,535 124.3211 11.214 Credltors: Amount falling due within one year Net current assets Is Total assets less rurrent liabil•ties 174.308 163.665 Net assets excluding pension asset or liability 174.308 163,66S Total net 0$5ets 174.308 163,665 Thefunds ofthe charity Restricted funds Endowment funds 17 149,357 149,357 151.864 151.864 Unrestricted fund5 General funds 17 24,951 11.801 24.951 11.801 Reserves 17 Total fund5 174.308 163.665 These accounts have been prepared in accordance with the spetial provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 May 2023 the company was entitled to exemption Ltnder section 477 of the Companies Act 2C relèting to small tompanies. The members have not required the company to r)btain an audit in accordance with section 476 of the Companies Act 2006. The director5 acknowledge their responsibilities for complying with the requirements of the Companies Act 26 with respect to accounting records and the preparation of accounts. Approved by the board on 31 May 2023 And signed on its behalf by- P. Orridge TIu5tee 31 May 2023 Page 9
Launce5ton Youth Partnership Limited Notes to the Accounts for the year ended 31 May 2023 l Accounting pollcies Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I January 20151 (Charitie5 SORP IFRS 10211, the Financial Reportlng standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basis of a¢¢ounting or to previous a¢¢ounts There ha5 been no change to the accounting policie5 (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund arcoynting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of thè general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted fund5 which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through ternis of an appeal. Oesignated funds Revaluation funds Restricted funds Incomè Recogn5tion of Income Income is included in the Statement of Financial Activities ISOFAI when the charity 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. Donatiorbs and Voluntary income received by way of grants. donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the incorne. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Oonated services These are only included in income {with an equivalent arnount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. egacies Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is includèd in the accounts when receivable. Gainslllossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gainslllossesl on investment asse15 This includes any gain or loss on the salt of investments. PèBe 10
Launceston Youth Partnership Limlted Notès to the Atcounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates. ExpenditUYÈ on These comprisè the costs as50Ci3ted with attracting voluntary income. fundraising raising funds tradtng costs and investment management costs. Expenditure on These cgmprise the costs Incurred by thÈ Chafity in the delivery of its activities and haritable activities services in the furtherance of its objetts. including the making of grants and governance costs. All grant Èxpenditure is accounted for on an artual paid basis plus an accrual for grants that have been approved by the trusteès at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity. includrng any auditlindependent exarnination fees, costs linked to the strategic management of the Charity, ttsgèther with a share of other administration costs. These are support costs not allocated to a particular attivity. Grants payable Governance Costs Other.expenditure Taxatlon The charity is exempt from corporatfron tax on its charitable attivtties. Tangible fixed assets ènd depreciation Depieciation is provided at the followin8 annual rates in orderto write off each asset over its estimated useful life.. Freehold property 2% Straight line Fixtures and Fittings 20% Reduting balance Stocks Stock 15 included at the lower of cost or net realisable value. DonatÈd item5 of stock are recogni5ed at fair value which is the amount the charity would have bten wlling to pay for the iterns on the open market. Trade and other debtors Trade and other debtors are recogni5ed at the settlement amount due after any trade discount offered. Prepayments are valved at the amount prepaid net of any trade discounts due. Cash Ind cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with bank5 and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of linancial position. bank overdrafts ère shown wtthin 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 Partnershlp Limited Notes to the Accounts Trade and other credit¢)rs Short term creditors are measured at the transartion prite. 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 lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally rÈtognisÈd at thÈir settlÈmÈnt amount after allowing for any trade discount5 due. Receipt of donated goods. facilities and services All donated goods, facilities and services received are recognised within incorning resources and expenditure at an estimate of the value to the charity. 2 Company statu5 The company is a private company limited by guarantee and ronsequently does not have share capital. 3 Statement of Financial Arti¥lties- prlor year Unrestricted funds Restrirted Endowment funds nds Total funds 2022 2022 2022 2022 Intome and endowments from: Donations and le6acies Other tradin8 activitie5 Total 3.324 39,CK17 3.324 39,007 42.331 42,331 Expendlture on: Raising funds Other 274 758 39.772 2,507 42,279 Total 40.256 274 2.507 43.037 Net income 2,075 {2741 12.5071 17061 Net Income before other galnslllosses) Other Zains and losses- Net movernent In funds 2,075 12741 12.5071 17061 2,075 12741 12,5071 17061 Rètonciliation of funds: Total funds brought forward Total funds carried fonward 9.726 274 154.371 164.371 11.801 151,864 163,665 Page 12
Launceston Youth Partnership Limited Notes to the Accounts 4 Income from donations and legacies Unrestrkted Total Total 2023 2022 Grant from Town Countil General donation5 135 135 280 137 137 3,324 S Income from other trading artivityes Unrestricted Total Total 2023 2022 Office rent5 received 41,792 844 41,792 37,956 1,051 39,007 Parking permits 42,636 42,636 6 Othèr lttcome Unrestrirted Total Total 2023 2022 Sale of Tiles Bank Interest 120 120 36 36 156 156 7 EmpendIre on ralsin8 funds Totsl 2023 Total 2022 Costs oAgeneroting voluntory income Grant from Town Council 716 Recovery Cafe 42 758 P#ge 13
iiunceston Youth Partnership Limited Notes to thè Actounts 8 Expenditure on charitable activities Unrestricted Total Total 2023 2022 Expenditure on choritoble octivities Comrnunity Support Warm Bank i.lso 753 1,150 753 Youth Club 462 462 Governance costs 2.365 2.365 9 Othèr expendltwe UTh$trfrt*d Endowment Totsl Total 2023 2022 Employee cosis Motor and travel costs 76 76 148 2,180 2,180 2.479 Premises costs Arnortisation, depreciation. impairment. profitlloss on disposal of fixed assets Gertefal admlnistratlve costs 21,911 21,911 33,713 118 2.507 2,625 2,654 2,707 422 2,707 422 2,811 474 Legal and professional costs 27.414 2.507 29.921 42.279 10 Net Incomellexpenditure) before transfers 2023 2022 This is stated after charging.. Oepreciation of owned fixed a55ets 11 Trustee remunèration and expenses 2.62S 2,654 One or more of the trustees has been paid expenses in the current or prior periods. 2023 2022 Number Number Nurnber of trustees paid e¥penses The nature of the reimbursÈd expenses Travelling expenditure and reimbursement of other expenditure relating to charitable activities. Total expenses reimbursed to tr415tees 2,479 12 Staff costs No employee received emoluments in excess of £60.CW. Page 14
Launceston Youth Partnership Limited Notes to the Accounts 13 TanBible fimed assets Land and Fixtures and buildings Total Flttlngs Cost or rÈvaluètioTh At l June 2022 At 31 May2023 Depreciation and impalmient At l June 2022 165.371 165,371 10,067 10.067 175.438 175.438 13.507 9,480 22,987 Depreciation charge for the vear At 31 May 2023 Net book lUeS 2,507 118 2.625 16.014 9,598 25,612 At 31 May 2023 At 31 May 2022 14 Debtars 149,357 151,864 469 149,826 152,451 587 2023 2022 Trade debtors 2,143 2,143 397 397 15 Creditors: amounts falling due within one year 2023 2022 Other loans Trade creditors Other creditors Accruals Oeferred income 3.SOO 17,145 869 2.477 219 2,807 24.321 9.340 16 Deferied Income Movement of the deferred income shown in Creditor5.- gmountsfalling due within one yeor 2023 2022 At I lune Released in current year Deferred in current year At 31 May 2,807 12.8071 2,397 12,3971 2.807 2,807 Page 15
unceston Youth Partnership Limited Notes to the Accounts 17 Movement in funds Incoming resouries (including other At l June gainsllosses 2022 Resources At31 May 2023 expended Restricted funds: Endowment funds: The Orchard Centre 151,864 12,5071 149,357 Totol 151,864 12,5071 149,357 Unrestrirted fund5: General funds 11.801 42.929 129,7791 24,951 Total funds 163.665 42.929 132.2861 174.308 Purposes and restrictions in relation to the funds= Endowment funds.. The Orchard Centre Land and buildin85 18 Analysls of net assets between funds. Unrtstrlcted Restrictèd Total funds funds Fixed assets Net current assets 469 149.3S7 149.826 24,482 174,308 24,482 24,951 149,357 19 Reconciliation of net debt At l June At 31 May 2023 2022 Cash flow5 Cash and cash equivalents 35.138 35,138 13.4591 13,4591 31,679 31,679 BorrowinBS 13.5001 13.5001 3,500 3.500 Net debt 31.638 41 31,679 Page 16
Launceston Youth Partnership limited Notes to the Accounts 20 Related party disclosures 2023 2022 rrttnsattions with relotedporties Norne of relotedporty Prospect House Garden CIC Description of relationship Mutual trustees who have significant between the parties influence over both charilies. During the Set up phase of Pro5pert House Garden CIC a grant was applied for but Prospect House Garden CIC did not have a bank account ready to receive the fund5. It Wa5 agreed that Launceston Youth Partnership Limited would hold the funds on Description of transoction triJ5t until Prospect House Garden CIC was and geneml amounts able to receive the grant. The final involved transaction occured on 29th June 2022. Amount duefrom/(toJ the relotedporty Controlllngptsrty 18691 The company is limited by guarantee and has no share capital. thus nts sin8le party tontrols the companv. Page 17
Launceston Youth Partnership L•mited Detailed statement of Financial Activities fortheyear ended 31 May 2023 Unrestricte d funds 2023 Total funds Total funds 2023 2022 2023 Income and endowments trom: Donations and legacies Grant from Town Council General donations 3,044 280 135 135 137 137 3.324 Other trading activities Office rents received Pirking permits 41.792 844 42,636 41.792 844 42,636 37.956 1.051 39,007 Other Sale of Tile5 Bank Interest 120 120 36 156 36 156 Total In¢ome and endowments 42,929 42,929 42,331 Expenditure on: Costs of generating donations and legacies Grant from Town Council Recovery Cafe 716 42 758 Total of expenditwe on raising fvnds 758 Charitablè activitiès Community Support Warm Bank Yourh Club i.lso 753 462 1.150 753 462 2.365 2.365 Total of expendlture on tharftable artlvities 2.365 2,365 Employee costs Staff entertainment 35 113 Staff welfare 76 76 76 76 148 Motor and travel costs Travel and subsistence 2,180 2.180 2,180 2,180 2.479 2,479 Premises cost5 Rates Light. heat and power 626 626 4,389 467 4,517 4.389 Page 18
Launceston Youth Partnership Lirnited Detailed Statement of Financial Activities Premises cleaning Premises insurances Premises repairs and maintenance 2.171 1,779 2.171 1.779 1,670 1,725 12.946 12,946 25.334 21,911 21.911 33,713 General adrninistrative costs. including depreciation and amortisation Depreciation of land and buildings Depreciation of Fixtures and Fittings Equipment leasin8 and hire charge5 Software, IT support and related costs 2,507 2.S07 2,507 118 118 147 98 34 395 395 Stationery and printing Subscriptions Sundry expenses Telephone. fax and broadband 898 3LX) 898 300 loo 952 454 916 916 927 2,825 2,507 5.332 5.465 Legal and professional costs Accountancy and bookkeeping 422 422 474 474 422 422 Total of expenditure ot other costs Total expenditurè 27.414 2.507 29,921 42,279 29.779 2.S07 32,286 43,037 Net gains on investmènts Net Intomellexpenditsre) 13.150 12.5071 10,643 17061 Net IntomellexpendlttsrÈ} befote other gainsll105ses1 Other Gains 13.150 12.5071 10,643 17061 Net movement in funds 13.150 12.5071 10.643 17061 Reconciliation of funds: Tot31 funds brought forward 11.BOI ISl.864 163,665 164.371 Total funds carried forward 24,951 149.3S7 174.308 163.665 Page 19