Launceston Youth Partnership Limited
Charity No. 1086738
Company No. 04198875
Tru5tees' Report and Unaudited Accounts
31 May 2024

Launceston Youth Partnership Limlted
Contents
Pages
2to5
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
summary Income and Expenditure Account
Balance Sheet
Notes to the Accounts
IOto17
Detailed Ststement of Financial Activitie5
18to19
Page I

Launceston Youth Partnershlp 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 financi31 statements of the charity for the year ended 31
May 2024.
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
OBJEcfivES AND AcfiviTIES
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
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Launceston Youth Partnership Limited
Trustees Annual Report
H05ting of many activities and groups that benefit and support the community take place regularly. Offices
remaln 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 tradin& 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 dlscounted rate if they are a not for proflt 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 charityto the attention of the town with many complimentary comments for the
improving standard of the premises and the servlces we offerto the community. They feel welcome,
appreciated, and supported by us.
ACHIEVEMENTS AND PERFORMANCE
The youth club have outgrown the opportunities in the building and they have re located to the nearby
Arcade where they can operate 7 days a week, unlike the premises here. We run a youth group specifically
for year 6 pupils to assist their integratlon into College. Many of the youngsters come from small village
schools where the total number of pupils is equal to the new class they will transition into. Our Chairman and
Vlce Chairman, organise and run these sessions and other volunteers along with local organisations often
support us to enable the charity to have a greater understanding of the needs of the youth community-
These needs are changing as technology plays an important part in their lives and older teenagers merely
Wish to have a safe warm space to meet and socialise rather than the more traditional gameslcrafts etc. Our
youth club remains a social media free zone and the youngsters and their parents are happy with this escape
from pressure to respond to messages. Launceston Street Pastors have free use on Saturday evening to
oversee the safety of resident5 and users of the town and disperse potential incidents. They work with the
Police and town C￿.
The Memory Café support group has become a general carers support group once a week. The Charity saw a
great need for support for the carers and families and the group has evolved into welcoming carers from all
aspects of life. License Holders are an integral part of The Orchard Centre and we invited them all to our
AGM with a meal provided and cooked by our Community Kitchen Group, it was the best attended AGM
ever. This group was started by us to encourage the ManDown regulars to cook fresh, tasty meals and
offered an alternative soci31 group forthem. We plan for this group to continue but include people from a
wider catchement area with referrals from the Socia5 Prescriber as well as Love Thy Neighbour and the Food
Larder.
ManDown have now moved their registered office to us and we continue to work closely with them. To
ensure alternative opportunities to the regular group meetings we fund pizza nights and BBQ evenings in
local CIC garden that our Chairman is a director of.
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 15 often required
for Government Grants ènd 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. allowed us to look at developing a Grant Policy called
Community Support Fund to provide grants to organisations or individuals who are offering opportunities to
the town or gain access to activities that financial hardship has prevented them from taking part in
previously. We have also supported town initiatives that benefit the the town itself. This year we have
supported groups with fund5 on average of £250. Girl Guides, Beavers, Carnival, Signing Workshop and
Storytelling- inclusive to all. Development of a Website to promote the positive changes taking place in the
town as part of being a member of The Town Plan Group. Contribution to a young person wishing to take
Gymnastics Qualification- an ex youth club member. Support for a local school to cover costs of swimming
lessons for year 5. One of the schoo15 who run a Breakfast club with over 50 youngster5 daily* requiring
crockery, new toasters to cope with the numbers and beakers for drinks.
The Charity continues to improve the building in ways that complement the ever changing requirements with
expanding businesses and new tenants. Expenditure ha5 been on a significant upgrade to the reception area
with a desk. manned by a receptionist from one of our tenants as they required additional working space,
this staff member compliment5 the area, provides security and as we are not re5pon5ible for her salary, we
have donated a small office to the tenant to provide free counselling services to the community 5 days a
week. We continue to seek and respond to the needs of the town and working closely with them, and having
the resources, allows us to respond in appropriate way5.
FINANCIAL REVIEW
It is the policy of the Charity that unrestricted funds which have not been deslgnated for a speclfic use
should be maintained at 3 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 ¢urrent 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 is rising.
The Trustees consider they are now in a secure position to cope with a degree of loss of income and expett
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, have as5e55ed 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 ta act, be deemed to have been reappointed unless at the meeting it 15 resolved not to
fill the vacancy or unless a resolution for the reappointment of the trustee is put to the meeting and10st.
No person other than a trustee retiring by rotation shall be appointed or reappointed a trustee at any
general meeting unles5'.
Page 4

Launceston Youth Partnershlp Limited
Trustees Annual Report
l. He Is recommended by the trustees; or 2. Not less than fourteen nor more than thlrty-five clear day5
before the date appointed for the meetin& 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 50 appointed or reappointed, be required to be included in
the CharIt￿S register of trustee5 together with a notice executed by that person of hi5 willingne55 to be
appointed or reappointed.
Subject as afore53id, 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.
The trustees may appoint a person who is willing to act to be a trustee either to fill a vacancy or a5 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 50
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 mayi if willing to act, be reappointed.
The Trustees are responsible for keeplng proper accounting records that disclose with reasonable accuracy at
any time the financial posltlon 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 step5 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 IFRS 1021.
Signed on behalf of the board
P. Orridge
Trustee
31 May 2024
Page 5

Launceston Youth Partnership Limlted
Independent Examlners Report
Independent Examlnèr's Report to the trustees of Launceston Youth Partnership Llmited
I report to the charity trustees on my examination of the financial statements of Lau nceston Youth
Partnership Limited for the year ended 31 May 2024.
Responsibilities and basis of report
As the charity's trustees of the company land also its directors 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 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 a5 carried out under section 145 of the Charitie5 Act 2011 ('the 2011 Act,).
In carrying out my examination I have followed the Directions given by the Charity Commission under section
14515) Ibl of the 2011 Act.
Independent examlner'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:
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 statement5 do not comply with the accounting requirement5 under section 396 of the 2006
Act other than any requirement that the financial statements give a 'true and fair, view which 15 not a
matter considered as part of an independent examination. or
the financial statements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021.
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
Prospett House
11 Western Road
Launceston
Cornwall
PL15 7A5
31 May 2024
Page 6

Launceston Youth Partnership Limited
Statement of Financlal Activitie5
for the year ended 31 May 2024
Unrestricted
funds Total funds Total funds
2024
2024
2023
Note5
Income and endowments
from:
Donations and legacies
Charitable activities
Other trading activitie5
Other
58
58
137
2,439
47,338
loo
2,439
47,338
Iixtr
42,636
156
Total
49,935
49,935
42,929
Expenditure on:
Charltable activities
other
5,812
25,275
5,812
25,275
2,365
29,921
Totsl
31,087
31,087
32,286
Net gains on investments
Net income
io
18,848
18,848
10,643
Transfers between funds
Net income before other
gainslllosses)
10,643
18,848
18,848
Other gains and losses
Net movement in funds
18,848
18,848
10,643
Reconclllation of funds:
Total funds brought forward
174,308
174,308
163,665
Total funds carried forward
193,156
193,156
174,308
Page 7

Launceston Youth Partnershlp Limited
Summary Income and Expendlture Account
forthe year ended 31 May 2024
2024
2023
Income
49,935
42,929
Gross income for the year
Expenditure
49,935
42,929
27,770
29,661
Depreciatlon and charges for
impalrment of fixed assets
3,317
118
Total expendlture for the year
Net income before tax for the year
31,087
29,779
18,848
13,150
Net Income for the year
18,848
13,150
Page 8

Launceston Youth Partnership Limlted
Balance Sheet
at 31 May 2024
Company No.
04198875
Notes
2024
2023
Fixed assets
Tanglble assets
13
168,321
168,321
149,826
149,826
Current assets
Debtors
Cash at bank and in hand
14
203
2,143
31,679
33,822
(9,340)
24,482
30,107
30,310
(5,4751
Creditors: Amount falling due within one year
Net current assets
15
24,835
Total assets less current liabilities
193,156
174,308
Net assets excluding pension asset or liablllty
193,156
174,308
Totsl net assets
193,156
174,308
The funds of the charity
Restricted funds
Unrestricted funds
General funds
17
17
193,156
174,308
193,156
174,308
Reserve5
17
Total funds
193,156
174,308
These accounts have been prepared In accordance wlth the special provisions of Part 15 of the Companies
Act 2006 relating to small companies.
Forthe year ended 31 May 2024 the companywas 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 dlrectors acknowledge their responsibilities for complying with the requirements of the Companies Act
2(K16 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 May 2024
And slgned on its behalf by..
P. Orrldge
Trustee
31 May 2024
Page 9

Launceston Youth Partnership Limited
Notes to the Accounts
for the year ended 31 May 2024
l Accounting pollcles
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 1021 {effective I
January 20151 (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 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
Unrestrided funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purp05e5.
These are unrestricted fund5 which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subjert to restrictions imposed bythe donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
income
Income is included in the Statement of Financial Activities (SOFA) 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.
Donations and
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditlonal
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 Thi5 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
Gain511105sesl on
investment asset5
This includes any gain or loss on the sale of investments.
Page 10

Launceston Youth Partnershlp Limlted
Notes to the Accounts
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.
Expenditure on
These comprise the costs associated with attractlng voluntary income, fundralslng
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 c05t5.
All grant expenditure 15 accounted for on an actual paid basis plu5 an accrual for
grants that have been approved by the trustees 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, including any auditlindependent examination fees,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Other expenditure
Taxatlon
The charity is exempt from corporation tax on its charitable activitie5.
Tanglble flxed assets and depreciation
DepreciatlDn 15 provlded at the following annual rates in order to write off each a55et over Its estimated
useful life:
Freehold property
2% Straight line
Fixtures and Fittlngs
20% Reducing balance
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they
arise.
Stocks
Stock is included at the lower of cost or net reali5able value. Donated items of stock are recogni5ed 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 atthe 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 maturitie5 Qf three months or less and bank overdrafts.
In the statement of financial position, bank overdrafts are shown within borrowing5 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 Account5
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 reco8nised at their settlement amount after
allowing for any trade discounts due.
Leased assets
Where the charity enters into a lease which entails taking substantially all the ri5k5 and rewards of
ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified
as operating leases.
Assets held under finance leases are initially recogni5ed as assets of the charity at their fair value at the
inception of the lease or, if lower, at the present value of the minimum lease payments. The
corresponding liability to the lessor 15 included in the balance sheet date as a finance lease obligation.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to
achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are
recognised immediatelyi unless they are directly attributable to qualifying a55ets, in which case they are
capitalised in accordance with the charty's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned a5set5.
Operating lease payment5 are recognised as an expense on a stralght-llne basis over the lease term.
In the event that lease incentives are received to enter into operating leases, such incentlves are
recognised as a Ilablllty. The aggregate benefit of incentives Is recognlsed a5 a reductlDn of rental
expense on a 5traight-line basis.
Penslon costs
The charity Operates a defined contrlbutlon plan for its employees. A defined contribution plan fs a
pension plan under which the company pays fixed contributions Into a separate entity. Once the
contributions have been paid the company has no further payments obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods. facilities and services
All donated goods, facilities and services received are recogni5ed within incoming resources and
expenditure at an estimate of the value to the charity.
2 Company status
The company 15 a private company limited byguarantee and consequently does not have share capital.
Page 12

Launceston Youth Partnershlp Llmited
Notes to the Accounts
3 Statement of Financial Activities- prlor year
Unrestrlcted Endowment
funds
funds Total funds
2023
2023
2023
Income and endowments from:
Donations and legacies
Other trading activities
Other
137
42,636
156
137
42,636
156
Total
42,929
42,929
Expenditure on:
Charitable activities
2,365
2,365
29,921
Other
27,414
2,507
Total
29,779
2,507
32,286
Net In¢ome
13,150
{2,5071
10,643
Net income before other
galnslllosses)
Other gains and10sses:
Net movement In funds
13,150
12,5071
10,643
13,150
12,507)
10,643
Reconciliation of funds:
Total funds brought forward
Total fund5 carried forward
11,801
151,864
163,665
24,951
149,357
174,308
4 Income from donations and legacles
Unrestricted
Total
Total
2024
2023
Grant from Town Council
General donations
58
58
135
58
58
137
5 Income from charltable actlvltles
Unrestricted
Total
Totsl
2024
2023
2,439
2,439
2,439
2,439
Page 13

Launceston Youth Partnershlp Llmited
Notes to the Accounts
6 Income from other trading activltles
Unrestrlcted
Total
Total
2024
2023
Office rents received
46,323
1,015
47,338
46,323
1,015
47,338
41,792
844
Parking permits
42,636
7 Other income
Unrestricted
Total
Total
2024
2023
Sale of Tiles
120
Bank Interest
loo
loo
36
loo
loo
156
8 Expendlture on charitable activities
Unrestrlcted
Total
Total
2024
2023
Expenditure on charitable
activities
Community Support
Warm Bank Supplie5
Youth Club
3,163
25
3,163
25
1,150
753
730
730
462
Community Hub
Governance costs
1,894
1,894
5,812
5,812
2,365
9 Other expenditure
Unrestrirted
Total
Total
2024
2023
Employee costs
Motor and travel costs
329
329
76
2,190
15,913
2,190
15,913
2,180
21,911
Premlses costs
Amortisation, depreclation,
impairment. profitlloss on
d15posal of fixed assets
General administrative costs
3,317
3,317
2,625
2,725
2,725
801
2,707
422
Legal and professional costs
801
25,275
25,275
29,921
Page 14

Launceston Youth Partnership Limlted
Notes to the Accounts
10 Net Income before transfers
2024
2023
Thi5 15 stated after charging:
Depreciation of owned fixed assets
11 Trustee remuneration and expenses
3.317
2,625
2024
2023
Number
Number
The nature of the reimbursed expenses
Travelling expenditure and reimbursement of other
expenditure relating to charitsble activities.
12 Staff costs
No employee received emoluments in excess of £60,000.
13 Tangible fixed assets
Land and Flxtures and
buildings
Fittings
Total
Cost or revaluation
At l June 2023
Additions
At 31 May 2024
Depreclatlon and
Impalrment
At l June 2023
Depreciation charge for the
year
At 31 May 2024
Net book values
165,371
15,360
180,731
10,067
6,452
16,519
175,438
21,812
197,250
16,014
9,598
25,612
2,635
682
3,317
18,649
10,280
28,929
At 31 May 2024
At 31 May 2023
14 Debtors
162,082
149,357
6,239
469
168,321
149,826
2024
2023
Trade debtor5
203
2,143
2,143
203
15 Credltors..
amounts falling due within one year
2024
2023
Trade credltors
Accruals
Deferred Income
2,477
219
99
5,376
5,475
9,340
Page 15

Launceston Youth Partnershlp Llmlted
Notes to the Accounts
16 Deferred Income
Movement of the deferred income Shown in Creditors.. amountsfalling due withln one year
2024
2023
At l June
Released in current year
Deferred in current year
At 31 May
17 Movement in fund5
6,644
16,644)
5,376
5,376
2,807
(2,8071
6,644
6.644
Incoming
resources
(including
other
gainsllosses
Resources
At 31 May
2024
expended
At l June
2023
Restricted funds:
Unrestricted fund5:
General funds
174,308
49,935
131,0871
193,156
Total funds
18 Analysis of net assets between funds
174,308
49,935
131,0871
193,156
Unrestrlcted
funds
Restricted
funds
Total
Fixed assets
Net current assets
6,239
24,835
31,074
162,082
168,321
24,835
193,156
162,082
19 Reconciliation of net debt
At ljune
At 31 May
2024
2023
Cash flows
Cash and cash equivalents
31.679
31,679
11,5721
11,5721
30,107
30,107
Net debt
31,679
11.5721
30,107
Page 16

Launceston Youth Partnership Limited
Notes to the Accounts
20 Related party disclosures
Name of related party
Description of relationship
between the parties
Prospect House Garden CIC
Mutual trustees who have significant
Influence over both charities.
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.
Description of transaction
and general amounts
involved
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 17

Launceston Youth Partnership Limited
Detalled Statement of Financial Activities
for the year ended 31 May 2024
Unrestricted
funds
2024
Total funds Total funds
2024
2023
Income and endowments from:
Donations and legacies
Grant from Town Council
General donations
58
58
135
58
58
137
Charitable activities
2,439
2.439
2,439
2.439
Other trading activities
Office rents received
Parking permits
46,323
1,015
47,338
46,323
1.015
47,338
41,792
42,636
Other
Sale of Tile5
Bank Interest
120
36
loo
loo
loo
loo
156
Total Income and endowments
49,935
49,935
42,929
Expenditure on:
Charitable activities
3,163
25
730
3,163
25
730
1,150
753
462
1,894
5,812
1,894
5,812
2.365
Total of expendlture on charitable
activities
5,812
5,812
2.365
Employee costs
Staff training
Staff welfare
25
25
304
304
76
329
329
76
Motor and travel costs
Travel and subsistence
2,190
2,190
2,190
2,190
2,180
2,180
Premises costs
Rates
Light, heat and power
Premises cleaning
Premises insurances
626
626
626
2,947
3,609
1,931
2,947
3,609
1,931
4,389
2,171
1,779
Page 18

Launceston Youth Partnership Limlted
Detailed Statement of Financial Activities
Premises repairs and
maintenance
6,800
6,800
12,946
15,913
15,913
21,911
General administrative costs,
including depreclatlon and
amortisation
Depreciation of land and
buildings
Depreciation of Fixtures and
Fittings
Equipment leasing and hire
charges
Software, tT sUPPOrt and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
2,635
2,635
2,507
682
682
118
13
13
98
395
1,044
214
898
300
214
514
514
940
loo
940
916
6,042
6,042
5,332
Legal and professional costs
Accountancy and bookkeeping
801
801
422
801
801
422
Total of expenditure of other costs
Total expenditure
Net gains on investment5
25,275
25,275
29,921
31,087
31,087
32,286
Net Income
18,848
18,848
10,643
Net Income before other
gains/(losses)
Other Gains
18,848
18,848
10,643
Net movement In funds
18,848
18,848
10,643
Reconciliation of funds:
Total funds brought forward
174,308
174,308
163,665
Total funds carrled forward
193,156
193,156
174,308
Page 19