**REGISTERED COMPANY NUMBER: 08633047 (England and Wales) REGISTERED CHARITY NUMBER: 1153185** **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023** **FOR** **AF&V LAUNCHPAD LIMITED** Streets Audit LLP Tower House Lucy Tower Street Lincoln Lincolnshire LN1 1XW **AF&V LAUNCHPAD LIMITED** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023** ||**Page**| |---|---| |**Report of the Trustees**|1 to 11| |**Report of the Independent Auditors**|12 to 14| |**Statement of Financial Actvites**|15| |**Balance Sheet**|16| |**Cash Flow Statement**|17| |**Notes to the Cash Flow Statement**|18| |**Notes to the Financial Statements**|19 to 33| |**Detailed Statement of Financial Actvites**|34 to 35| **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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 2019). ## **REPORT OF THE TRUSTEES AND DIRECTORS COMBINED** ## Chairman's Report I am pleased to report that Launchpad has housed and provided essential support to aid their transition to 137 veterans this year and 633 since inception in 2013. Over the past 5 years, on average 47% of our residents gained employment and 60% moved on successfully; these are impressive figures as around 88% of our residents came from a homeless background over the same period and many endure complex challenges. This is what Launchpad is all about, giving a helping hand to veterans who need a bit of support at this stage of their lives, so they can live successful and independent lives thereafter. The incorporation into Launchpad of Hollyacre House in Sacriston, just outside Durham has progressed well and has enabled Launchpad to provide 101 flats for veterans and their partners. The four members of staff have adopted Launchpad processes very well and the residents have benefited from the ensuing stability. Occupancy of Launchpad's houses continues to be high and so the plan to take on Hollyacre House has evidentially been a sensible move to help reduce homelessness among veterans in the north of England. The coming year July 2023 - June 2024, Launchpad's 10th anniversary, is already looking challenging in a good way, with the 10th Anniversary celebrations and a potential increase in funding through Op Fortitude, a government-funded project to reduce homelessness among veterans. We intend to play a significant part in that drive. I would like to thank the many funding organisations (listed later in the report) and volunteers that have supported Launchpad; we really couldn't do what we do without your funds and support. Furthermore, corporate organisations have become very involved with each of the houses, providing volunteers to carry out tasks in the houses, providing gifts in kind and donations AstraZeneca, B&Q, John Turner Construction, Fareshare, BAE Systems, Esh Construction. I am grateful to our Corporate Fundraising Team for their energetic and dedicated support to Launchpad. I would like to extend heartfelt thanks from the trustees and the staff of Launchpad to the staff in the many partner organisations with whom Launchpad works and depends upon to provide sustained and beneficial support for the resident veterans. It really is a joint effort. Finally, I must point out how wonderfully dedicated Launchpad's staff are to both Launchpad and the veterans who reside in our three houses. Their job is frequently challenging, difficult and emotionally draining, however, they also enjoy seeing really positive developments in most of their resident veterans and it is this that drives us all to do as well as we can. Lucy Perriam Chair, Trustee and Director ## **OBJECTIVES AND ACTIVITIES Objectives and aims** The objects of Launchpad remain as follows: The relief of financial hardship amongst service personnel and armed forces veterans and their dependants (including those who are serving members that are about to leave, and those who have served in the armed forces and have already left) by the provision of housing and accommodation, the provision of education, training, employment and financial support to help them resettle into civilian life. To promote social inclusion for the public benefit by preventing the beneficiaries identified in the object from becoming socially excluded, relieving the needs of those beneficiaries who are socially excluded and assisting them to integrate into society. For the purpose of this clause 'socially excluded' means being excluded from society, or parts of society, as a result of one of more of the following factors: unemployment; financial hardship; youth or old age; institutionalisation; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; poor educational or skills attainment; relationship and family breakdown or rejection; poor housing (that is housing that does not meet basic habitable standards; crime (either as a victim of crime or as an offender rehabilitating into society). Page 1 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **OBJECTIVES AND ACTIVITIES Significant activities** Strategy Launchpad employs 4-stages of support to its residents, on top of housing and financial advice: 1) psychotherapy sessions, where necessary, to counter mental health challenges from anxiety to PTSD, 2) activities to encourage sociability, to boost confidence and encourage engagement, 3) training, if necessary, and help to gain employment and 4) longer-term remote support for alumni. All this is to enable veterans to move on from Launchpad after a couple of years or so and thereafter to live independent and contented lives in whichever community they choose. ## Service Delivery Launchpad provides veterans with accommodation (their own refurbished, one-bedroom flat) and communal facilities, for which they pay rent, either using housing benefit, income or savings, in the majority of cases for up to two years. Each veteran is assessed on arrival and a specific developmental plan is put in place. It will take into account the individual's health, wellbeing and ambitions. Working with other organisations, Launchpad provides welfare and mental health support, as well as signposting to experts, as necessary; then Launchpad helps the veterans acquire jobs, via training if necessary, and permanent housing. One of the major benefits of living in one of the Launchpad houses is the ability for veterans to mix with individuals who have been through similar experiences while in the military; they usually feel part of a team again and can help and support one another. Through a mix of voluntary social events and physical activities, many referred to as diversionary activities, the veterans gain confidence and social skills. We work with many other agencies and charities to provide support to our residents including, at the appropriate time, training and employment, followed by housing advice. When the veteran is ready, or when he or she decides, we help them move on to independent living. The charity uses the Outcomes Star, Support Plans and Risk Assessment tools to monitor veterans' development. ## Post-Pandemic Activity Although support has returned to pre-Pandemic levels in most areas, one of the effects of the pandemic included a reduction in accommodation into which Launchpad's residents could move into. This has continued and thus the level of over-2 year residents is higher than in previous years. ## House Management Each House is run by a Manager and 3 to 4 Deputy/Assistant Managers, covering Operations, Facilities, Welfare, Mental Health and Projects. The Manager of Avondale House co-manages Hollyacre House. Number of staff for the 3 houses comprises 18 full-time and 3 part-time employees. ## Fundraising Amber Consulting have continued to develop Launchpad's corporate fundraising capabilities. This has had a major impact, particularly through gifts-in-kind and volunteering from some well-established names such as VIVO Defence Systems, KIER Construction, Esh Construction, BAE Systems, EQUANS, Fareshare, Astra Zeneca, Asda, Morrisons, Tesco, Bell Group, BITA, B&Q, John Turner Construction and others. We will continue to use a corporate fundraising team. ## **Public benefit** Having regard to the Charity Commission's public benefit guidance, the Trustees of Launchpad confirm that we are aware of the guidance, we have taken it into account when making a decision to which the guidance is relevant, and we believe the charity is doing a huge amount for public benefit. Page 2 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Launchpad has looked after over 633 veterans since opening in 2013. 137 veterans lived in Launchpad's three houses this year, 88% from homelessness (72% previously slept rough and/or sofa-surfed), 96% with mental health issues and 86% from long-term unemployment. The statistics that most indicate positive outcomes, 'Employment on Move-on' and 'Successful Move-on' were 31% and 60% respectively. Key outcome statistics for the year are as follows: |**Category**|**Avondale House**|**Hollyacre House**|**Speke House**|**Total No.(% of whole)**| |---|---|---|---|---| |Residents during year|37+5|20|80|137| |Residents at year-end|24+4|14|38|76| |Residents from a||||| |homelessbackground|31|12|69|112 (82%)| |Residents gaining employment in the||||| |year|15|2|32|49 (36%)| |Residents from HMP|3|0|7|10 (7%)| |Successfully moved on||||| |fromLaunchpad (5-year average)|70/108 (65%)|5/5 (100%)|103/184 (56%)|178/297 (60%)| |Employment on move-on(5 year||||| |average)|41/108 (38%)|2/5 40%|52/184 (28%)|95/297 (32%)| We use in-depth, annual resident surveys to track progress across a wide range of measures including skills, employability, self-confidence and optimism. In our 2023 evaluation of veterans supported by Launchpad, veterans reported the following outcomes: Page 3 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** And before coming to us, veterans report the following challenges: ## **Case Study** Tom - Hollyacre House Household Cavalry - British Army Served 3 years Tom passed out first time and joined the Household Cavalry and said his proudest moments were participating in Trooping of the Colour (twice) and the Musical Ride. He served for three years and secured various jobs after leaving the Army but found the transition to civilian life difficult. He turned to drugs to cope with certain events that happened in his life, especially his childhood. He struggled to make and keep friends and felt he couldn't trust people. After 10 years of substance abuse, he was referred to Tom Harrison House, which runs a specialist addiction recovery programme, to deal with his addiction. After graduating, he became homeless for a while before Project Nova referred him to Hollyacre House. He is now clean and proud and said: "Life is a lot brighter for me, the staff at Launchpad are hands off but I know they are always here if I need them and are very approachable. They have helped me with things like benefits and have referred me to external services to support my mental health. "It really is a great place to live and it's so quiet away from the city. It has helped me to stay clean and I can take Mabel (my Beagle) out for walks which helps me with my mental health. I feel settled and want to stay here until I feel ready to move on." Page 4 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **Community Project** Page 5 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## Partner Organisations Launchpad depends on partner organisations to effect the holistic support we bring to the residents. Key partners, whom we would like to thank for their excellent work are as follows: |**Avondale House**|| |---|---| ||We Are with You, Unique Fitness, SSAFA, ABF, RBL, CRISIS Skylight,| ||Plumber Court, WWTW, OT Placements Northumbria University,| ||Northern Learning Trust,Newcastle Veterans Cycle Hub, Gateshead| ||Walking Club, Widows Sons, Fareshare, Neighbourly, Northumberland| |Welfare|Free Masons, Someone Cares.| ||Op Courage, MIND, Combat Stress, Veterans at Ease, TILS, Anxious| ||Minds,Talking Therapies, Mental Health Concern, Samaritans, NHS| ||Community Mental Health Team, Plummer Court, Humankind, GP| |Mental Health|Secondary Mental Health,Gateshead FC Foundaton.| ||Crisis Skylight, RBL, St Michaels Community Centre, St Michaels Church,| |Diversionary Actvites|BykerCommunity Trust, Byker Primary School, Northern Weightlifing.| ||Esh Constructon, BAE Systems, EQUANS, RE:geon Constructon, Learning| ||Curve, CRISIS Skylight, Newcastle Rail Network, Newcastle University,| |Employment Training|People Plus, DWP.| ||Northumbria University, HIVE, RBLI Lifeworks, Bell Group (P&D),| |Educaton and Training|Learning Curve, CRISIS Skylight, Newcastle University.| ||AFOS (Northumberland, Newcastle, North Tyneside, Durham,| ||Gateshead), HAC, Private Landlords, My Space, Changing Lives, Riverside,| |Housing|Veterans Gateway, Shelter, Byker Community Trust/Karbon Homes.| ||Money Maters, Veterans UK, CAB, Natonal Energy, Neighbourhood| |Others|Police| Page 6 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **Speke House** |**Speke House**|| |---|---| ||Addicton, Veterans Welfare, RBL, Everton in the Community, Tom| |Welfare|Harrison House, Rise, Project Nova.| ||Talk Liverpool, Together all, John Lucas, NHS, Op Courage, Mind Set| |Mental Health|Maters,Combat Stress, Andys Man Club, St James Place.| ||Everton in the Community, Sovini Group, Batle-Back Centre, LFC| ||Foundaton,Plant a Tree Foundaton, CatZero, Bearded Men, CFO,| |Diversionary Actvites|Mission Motorsport, Dutch Farm/YMCA.| ||Speke Training and Educaton Centre, DWP, Sovini Group, Liverpool in| ||Work,Inside Connectons, Veterans into Logistcs, Equans, Training| |Training, Educaton &Employment|Solutons, Skill Boot Camp, FTW Training, ALT Valley Comm-university.| |Job huntng|DWP, Reach, Liverpool in work, LCC, Inside Connectons.| ||South Liverpool Homes, Property Pool Plus, CC Housing, Riverside,| |Housing|Anchor, Liverpool Mutual Homes, Tarus, Housing 21.| ||Warrior Programme, B&Q Neighbourly, local councillors, AstraZeneca,| |Others|Morrisons, Tesco, Asda, Royal Navy.| |**Hollyacre House**|| |Welfare|WWTW, Live Well NE, RBL, ABF, Sportng Forces, East Durham Veterans.| ||Sunderland University OT Placements, Chester-Le-Street Mental Health| ||Clinic, Anxious Minds, Veterans at Ease, Op Courage, NHS Veterans| ||Mental Health Complex Treatment Services, GP Secondary Mental| |Mental Health|Health, Tees, Esk and Wear Valley Foundaton NHS Trust.| |Diversionary Actvites|Durham LA, Arts and Crafs, Breathing Spaces, Batle-back Centre.| |Employment Training|Esh Constructon, RFEA, BAE, DWP.| ||Learning Curve, Veterans Woodcraf, Newton Ayclife Veterans Hub,| ||Woodshed Sacristan, Durham Local Authority, Durham New College,| |Educaton and Training|Sunderland University.| |Housing|AFOS, Durham Key Optons| Page 7 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **FINANCIAL REVIEW** ## **Financial position** Income for the year totalled £1,272,873 (2022 - £1,053,263) which included restricted grant income of £276,084 (2022 - £249,527) less restricted deduction to rents of £7408 (2022 £Nil) for heating grants and unrestricted income of £1,004,197 (2022 - £803,736) arising from rents, service charges, bank interest and donations. Expenditure for the year totalled £1,287,843 (2022 - £990,183) of which £229,039 (2022 - £200,082) was restricted expenditure leaving unrestricted expenditure of £1,058,804 (2022 - £790,101). There was an overall deficit of £14,970 for the year (2022 surplus £63,080). Net assets at 30th June 2023 totalled £1,416,955 (2022 - £1,431,925). This included fixed assets of £1,078,599, debtors of £59,144, cash at bank of £607,168, short term liabilities of £97,025 and long term liabilities of £230,931. Reserves held at 30 June 2023 totalled £1,416,955 (2022: £1,431,925) made up of Unrestricted Funds £1,273,726 (2022 £1,285,601) and Restricted Funds £143,229 (2022 £146,324). Launchpad's principal sources of income (over £10,000) in the last year have been: - Rental income: £434,671 - Service charge income: £327,082 - Grant income: £417,784 most of which was from the following: - ABF The Soldiers' Charity - Bernard Sunley Foundation - Forces Support - Leathersellers' Company Charitable Fund - Queen Mary's Roehampton Trust - The Albert Gubay Charitable Foundation - The Armed Forces Covenant Fund Trust - The Mercers' Company - The Veterans' Foundation We express our thanks to those funding organisations who have supported Launchpad. All expenditure has been used to sustain the activities of the charity, according to its objects. Funding goes to pay rent on Avondale House to Karbon Homes, salaries, running costs, capital expenditure and veterans' activities. We have yet to build up sufficient reserves to require investment objectives, other than to maximise bank interest. ## **Reserves policy** Our aim is to build up sufficient reserves to cover the following: - " Unforeseen emergency (eg repairs) - £50K - " Temporary staff costs - £10K - " Income ceased, or halted unexpectedly - £50K - " Large future plans (Major repairs, setting up hub) - £80K - " Short-term cover between grants - £50K - " Closure - Redundancy £18K, 3 months running costs - £258K This currently amounts to £498,000. Actual reserves excluding fixed assets were £338,356 at 30 June 2023. The Reserves Policy is reviewed from time to time. ## **FUTURE PLANS** Plans for the next two years include delivering the Launchpad Op Fortitude plans, enhancing the service provided to veterans and playing a part in reducing homelessness among veterans across UK. Page 8 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Organisational structure** The organisation of Launchpad is as follows: ## **Induction and training of new trustees Trustees** The trustees remained the same in the FY except that Sharon Sainsby-Thompson resigned on 14 November 2022 and was replaced by Sarah-Louise McCartney on 19 December 2022. ## **Governance** Usually following advertising, Trustees are appointed by extant Trustees through interview and consideration of CVs. All new Trustees are fully briefed on Launchpad, including being shown round one or both houses, meeting the staff and residents. Meetings are invariably held in one or other of the Charity's Houses, when possible; virtual meetings have been used through the pandemic and have been very effective. Trustees are encouraged to attend trustee training and are also encouraged to read about their duties through sites such as those of the Charity Commission. Page 9 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** A Trustees' meeting is held every quarter and trustees are contacted between meetings, as necessary. We hold weekly, virtual management meetings involving the CEO, Charity Secretary, administrative staff and the House Managers. Contingent decisions about Launchpad's operation are made when necessary and other decisions are made at the various management meetings, depending on circumstances. The Trustees delegate day-to-day management responsibility to the CEO and the senior managers. The Trustees take advice from many sources including Regulatory Bodies, Cobseo, OVA, lawyers and so on. The Charity has completed the Cobseo self-testing Governance tool, based on best practice and Charity Commission direction, the result of which shows that Launchpad has a green status, the best that can be achieved. Elements of the work can be seen on the Launchpad website under the Governance tab. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Risks are laid out in the risk management matrix and are considered at the management and trustee meetings with appropriate action being taken to avoid or mitigate them. Some trustees have particular risk areas upon which they focus, taking advantage of their professional experience. The major risk to Launchpad at the time of writing is worsening of the economic environment leading to reductions in income from Local Authority/Government and funding organisations; however, the charity is in a sound position at the time of reporting. ## **Structure, Governance and Management** The charity is controlled by its governing document, the Model Memorandum and Bespoke Articles of Association of AF&V Launchpad Limited, and is limited by guarantee. The charitable company was incorporated on 1 August 2013 and was registered as a charity on the same date. **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 08633047 (England and Wales) **Registered Charity number** 1153185 ## **Registered office and Principal office** Enterprise House Harmire Enterprise Park Barnard Castle DL12 8XT ## **Trustees** N Tubbs (resigned 30.10.23) K McMillan R Dixon-Warren L Perriam Dr P Mixer S Stainsby-Thompson (resigned 14.11.22) Colonel M Underhill OBE DL S McCartney (appointed 19.12.22) **Manager of Avondale House & Hollyacre House** Phil Thompson **Manager of Speke House** Samantha Jackson **Company Secretary** A J Crompton ## **Auditors** Streets Audit LLP Tower House Lucy Tower Street Lincoln Lincolnshire LN1 1XW Page 10 AF&V LAUNCHPAD LIMIIEO IAE¢515fERED14UM¥A: IW10471 REPO￿ OFTHE TAUSTiES Foft TrIE YEAR ENIXD 3OJUNE 202> •n&ws CtrOp•r•¥¥* 8wk PO Box 101 18•lbon Sil Holt's F•rnèoroy￿ giwKh Vlrtorl• No FirDb)10U8h GU14 7NH M604EP STATEMEpifoF TRV5TEÉS' AÉSPOt4SIOILmES The tn15t•*s Iwho •r• •lso thw dll*rtors off *S&V t•UnChp￿ LlmlMI lof th• pwpo5•1 of mmp¥Ay lawl •r• r*swniib*foF pr•wrlft4 lh• A•port olthe Tlysiert thtNn•nclil ii•t•rn•nis In 4¢**INCOME AND ENDOWMENTS FROM**
Donatons and legacies
2
**Charitable actvites**
4
Avondale House
Speke House
Hollyacre House
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
**Charitable actvites**
5
Avondale House
Speke House
Hollyacre House
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
19
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
196,914
270,359
352,488
158,214
10,357
15,865
1,004,197
402,141
454,552
202,111
1,058,804
(54,607)
42,732
(11,875)
1,285,601
1,273,726|Restricted
funds
£
276,084
(7,408)
-
-
-
-
268,676
97,383
76,141
55,515
229,039
39,637
(42,732)
(3,095)
146,324
143,229|30.6.23
Total
funds
£
472,998
262,951
352,488
158,214
10,357
15,865
1,272,873
499,524
530,693
257,626
1,287,843
(14,970)
-
(14,970)
1,431,925
1,416,955|30.6.22
Total
funds
£
442,605
259,625
305,640
32,144
3,698
9,551| |---|---|---|---|---| |||||1,053,263| |||||461,255
481,900
47,028| |||||990,183| |||||63,080
-| |||||63,080
1,368,845| |||||1,431,925| The notes form part of these financial statements Page 15 AF&VIAIIACHPADUMIYED IAEfJlSTEREO IIiIM•EA.. OW0471 •AiAACf SHEEY JO IUNE 102J 30.6.23 Tot41 lurtds 30.6.22 Tot41 I￿ndS Unrestikied fund irki•d funds IIXED ASSETS T•r4iiA• 12 lon.599 LOn.599 1.113.679 CVAAEIIT ASSE15 PEblors C4sh •t ￿nk afid In 13 59,144 463,939 $9,144 607,161 64,962 588.450 143.229 523,013 143.229 666,312 653.112 rnwntsf•llln¢du•tArtihh¢M 14 197,0251 197,02SI 1103.4371 I1ÉTOJaAENr￿1TS 42&058 143 229 $69 217 54 TOTAL ASSETS LeSSCURRENfuAWU 1.501.657 143.119 1,647.&96 1,663fv CIEWORS Arnounts f•lllr4 du* ift•rw•ihMoMyMr 15 I￿.931) 1230.9311 1231,7291 12n,725 143.229 ,416.955 1.431,9ZS FUNOS Vrtro&iikied fiJr￿S R•itrlcl￿ lunds 19 1,273,726 143,129 1.285,601 146,324 TOTAL FUN05 416.955 1431925 Th•s• Ininclalst•i•m•Dts hw• bwn wepAr•d In•rcordarKewlth Th•pio4iiions •pplIc•￿e io thadtJbl• ¢(#np•n￿ subittt io th• im•ll ¢omwnles rel￿. Thehn•ncl•l si•i•mfvtsww•apprehYdbyth• 8o•rdolTNst¢u•nd•uthor4wdlorlssu•oh..,..... .. on It6 bih•ll by., . •frJw•I•sl￿•d L Perrlarn- Trutt•• noMIorn¥ pm01ihqmnmnc￿1 At*t•m•nts P•8• 16 **AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)** ## **BALANCE SHEET 30 JUNE 2023** |Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Debtors
13
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due afer more than one year
15
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
1,078,599
59,144
463,939
523,083
(97,025)
426,058
1,504,657
(230,931)
1,273,726|Restricted
funds
£
-
-
143,229
143,229
-
143,229
143,229
-
143,229|30.6.23
Total
funds
£
1,078,599
59,144
607,168
666,312
(97,025)
569,287
1,647,886
(230,931)
1,416,955
1,273,726
143,229
1,416,955|30.6.22
Total
funds
£
1,113,679
64,962
588,450
653,412
(103,437)
549,975
1,663,654
(231,729)
1,431,925
1,285,601
146,324
1,431,925| |---|---|---|---|---| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. L Perriam - Trustee The notes form part of these financial statements Page 16 **AF&V LAUNCHPAD LIMITED** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2023** |Notes
**Cash fows from operatng actvites**
Cash generated from operatons
1
Interest paid
Net cash provided by operatng actvites
**Cash fows from investng actvites**
Purchase of tangible fxed assets
Interest received
Net cash used in investng actvites
**Cash fows from fnancing actvites**
New loans in year
Loan repayments in year
Net cash (used in)/provided by fnancing actvites
**Change in cash and cash equivalents in the**
**reportng period**
**Cash and cash equivalents at the beginning of the**
**reportng period**
**Cash and cash equivalents at the end of the**
**reportng period**|30.6.23
£
47,398
(15,250)
32,148
(17,875)
10,357
(7,518)
-
(5,912)
(5,912)
18,718
588,450
607,168|30.6.22
£
103,036
(696)
102,340
(403,699)
3,698
(400,001)
243,979
-
243,979
(53,682)
642,132
588,450| |---|---|---| The notes form part of these financial statements Page 17 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2023** |**1.**
**RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
30.6.23
£
**Net (expenditure)/income for the reportng period (as per the Statement of**
**Financial Actvites)**
(14,970)
**Adjustments for:**
Depreciaton charges
52,955
Interest received
(10,357)
Interest paid
15,250
Decrease/(increase) in debtors
5,818
(Decrease)/increase in creditors
(1,298)
**Net cash provided by operatons**
47,398
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**|30.6.22
£
63,080
38,687
(3,698)
696
(32,595)
36,866
103,036| |---|---| ||At 1.7.22|Cash fow|At 30.6.23| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank and in hand|588,450|18,718|607,168| ||588,450|18,718|607,168| |**Debt**|||| |Debts falling due within 1 year|(12,250)|5,114|(7,136)| |Debts falling due afer 1 year|(231,729)|798|(230,931)| ||(243,979)|5,912|(238,067)| |**Total**|344,471|24,630|369,101| The notes form part of these financial statements Page 18 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity. The entity is a Public Benefit Entity. ## **Going Concern** There are no material uncertainties about the charity's ability to continue. ## **Limited by Guarantee** The company is limited by guarantee. At 30 June 2023 there were 7 members each of whom had undertaken to contribute an amount not exceeding £5 in the event of a winding up. The company is under the control of the directors as a body and as such is not controlled by any individual. ## **Critical accounting judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees consider that there are no significant estimates or judgements affecting these financial statements. ## **Income** All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. Investment income is included when receivable. Income from charitable trading activity is accounted for when earned. Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. ## **Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Page 19 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Expenditure** Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |Freehold property|- 2% on cost| |---|---| |Improvements to property|- Over the term of the lease| |Plant and machinery|- 25% on reducing balance| |Fixtures and ftngs|- 25% on reducing balance| |Motor vehicles|- 25% on reducing balance| Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised. ## **Taxation** The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Designated funds are unrestricted funds earmarked by the trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Operating Leases** Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Page 20 **AF&V LAUNCHPAD LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Accounting policies continued** ## **Impairment of Fixed Assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. ## **Financial Instruments** The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **Defined Contribution Plans** Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. ## **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. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. ## **Cash at Bank and in Hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Creditors** Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due. Page 21 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| |Gifs in kind
Donatons
Grants|30.6.23
£
18,609
36,605
417,784
472,998|30.6.22
£
11,464
20,814
410,327| |||442,605| Grants received, included in the above, are as follows: |Army Benevolent Fund
Armed Forces Covenant Fund Trust
Albert Gubay Foundaton
Forces Support
Leathersellers
Queen Mary's Roehampton Trust
Running costs funding
County Durham Community Foundaton
Mercers' Company
The Hobson Charity
Bernard Sunley Foundaton
Albert Hunt Trust
Steve Morgan Foundaton
Veterans' Foundaton
Hadrian Trust
Duchy of Lancaster Benevolent Fund
Garfeld Weston Foundaton
Natonwide Community Grants
Dowager Countess Eleanor Peel Trust
Sir James Knot Trust
The Clothworkers' Foundaton
Other grant income
Scot (Eredine) Charitable Trust
BCT|30.6.23
£
56,630
18,512
57,163
22,657
10,000
10,000
7,000
5,000
42,799
5,000
15,000
7,000
9,323
145,200
2,000
500
-
-
-
-
-
-
4,000
-
417,784|30.6.22
£
45,947
8,438
-
17,046
20,000
10,000
-
-
-
-
-
-
12,431
160,800
2,000
-
30,000
46,384
5,000
5,000
22,000
25,000
-
281| |---|---|---| |||410,327| Page 22 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** |**3.**
**INVESTMENT INCOME**
Bank interest receivable
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Actvity
Rent receivable
Avondale House
Service charges receivable
Avondale House
Sponsorship and fundraising
events
Avondale House
Rent receivable
Speke House
Service charges receivable
Speke House
Sponsorship and fundraising
events
Speke House
Rent receivable
Hollyacre House
Service charges receivable
Hollyacre House
Sponsorship and fundraising
events
Hollyacre House
**5.**
**CHARITABLE ACTIVITIES COSTS**
Avondale House
Speke House
Hollyacre House
**6.**
**SUPPORT COSTS**
Avondale House
Speke House
Hollyacre House|Direct
Costs
£
495,000
523,874
255,329
1,274,203
Finance
£
69
69
2
140|30.6.23
£
10,357
30.6.23
£
151,246
107,778
3,927
233,524
113,014
5,950
49,901
106,290
2,023
773,653
Support
costs (see
note 6)
£
4,524
6,819
2,297
13,640
Governance
costs
£
4,455
6,750
2,295
13,500||30.6.22
£
3,698
30.6.22
£
137,408
122,217
-
208,310
97,330
-
29,434
2,710
-|30.6.22
£
3,698
30.6.22
£
137,408
122,217
-
208,310
97,330
-
29,434
2,710
-| |---|---|---|---|---|---| |||||597,409|| |||||Totals
£
499,524
530,693
257,626|| ||||1,287,843||| ||||||Totals
£
4,524
6,819
2,297| ||||||13,640| Page 23 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **7. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||30.6.23|30.6.22| |---|---|---| ||£|£| |Auditors' remuneraton|7,500|2,500| |Depreciaton - owned assets|52,955|38,687| |Other operatng leases|55,091|70,999| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. ## **Trustees' expenses** One Trustees was reimbursed expenses of £2,016 for the year ended 30 June 2023. These expenses were for travel and accommodation costs of £516 and for carrying out a review of occurrences in Speke House £1,500. There were no Trustees expenses for the year ended 30 June 2022. ## **9. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs|30.6.23
£
594,489
57,732
18,026
670,247|30.6.22
£
445,433
46,125
15,486| |---|---|---| |||507,044| The average monthly number of employees during the year was as follows: ||30.6.23|30.6.22| |---|---|---| |Average number of employees|20|16| No employees received emoluments in excess of £60,000. ## **Key Management Personnel** Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £51,890 (2022:£50,348). Page 24 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **10. MATERIAL TRANSFERS** During the year £42,732 (2022 £67,858) was transferred from restricted to unrestricted funds. This represented the contribution to core costs by restricted grants. ## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donatons and legacies
**Charitable actvites**
Avondale House
Speke House
Hollyacre House
Investment income
Other income
**Total**
**EXPENDITURE ON**
**Charitable actvites**
Avondale House
Speke House
Hollyacre House
**Total**
**NET INCOME**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
193,078
259,625
305,640
32,144
3,698
9,551
803,736
361,365
381,708
47,028
790,101
13,635
67,858
81,493
1,204,108
1,285,601|Restricted
funds
£
249,527
-
-
-
-
-
249,527
99,890
100,192
-
200,082
49,445
(67,858)
(18,413)
164,737
146,324|Total
funds
£
442,605
259,625
305,640
32,144
3,698
9,551| |---|---|---|---| ||||1,053,263| ||||461,255
481,900
47,028| ||||990,183| ||||63,080
-| ||||63,080
1,368,845| ||||1,431,925| Page 25 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **12. TANGIBLE FIXED ASSETS** |**COST**
At 1 July 2022
Additons
At 30 June 2023
**DEPRECIATION**
At 1 July 2022
Charge for year
At 30 June 2023
**NET BOOK VALUE**
At 30 June 2023
At 30 June 2022
**COST**
At 1 July 2022
Additons
At 30 June 2023
**DEPRECIATION**
At 1 July 2022
Charge for year
At 30 June 2023
**NET BOOK VALUE**
At 30 June 2023
At 30 June 2022|Freehold
property
£
350,000
-
350,000
2,319
8,575
10,894
339,106
347,681
Fixtures
and
ftngs
£
99,450
17,220
116,670
56,551
17,344
73,895
42,775
42,899|Improvements
to
property
£
868,973
-
868,973
169,121
21,868
190,989
677,984
699,852
Motor
vehicles
£
67,512
-
67,512
50,795
3,658
54,453
13,059
16,717|Plant and
machinery
£
28,280
655
28,935
21,750
1,510
23,260
5,675
6,530
Totals
£
1,414,215
17,875
1,432,090
300,536
52,955
353,491
1,078,599
1,113,679| |---|---|---|---| Page 26 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Other debtors
Prepayments and accrued income
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafs (see note 16)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 16)
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and fve years:
Bank loans - 2-5 years
Amounts falling due in more than fve years:
Repayable by instalments:
Bank loans more 5 yr by instalments|30.6.23
£
27,778
5,000
26,366
59,144
30.6.23
£
7,136
9,872
16,486
3,525
60,006
97,025
30.6.23
£
230,931
30.6.23
£
7,136
7,596
25,558
197,777|30.6.22
£
21,185
-
43,777
64,962
30.6.22
£
12,250
7,483
14,772
2,984
65,948| |---|---|---| |||103,437| |||30.6.22
£
231,729| |||30.6.22
£
12,250| |||12,250| |||36,750| |||182,729| Page 27 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **17. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and fve years
In more than fve years|30.6.23
£
71,432
285,296
189,333
546,061|30.6.22
£
71,000
284,000
260,333| |---|---|---| |||615,333| ## **18. SECURED DEBTS** The following secured debts are included within creditors: ||30.6.23|30.6.22| |---|---|---| ||£|£| |Bank loans|238,067|243,979| The loan is secured by a fixed charge against Hollyacre House, Sacriston, Durham. Page 28 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **19. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Army Benevolent Fund
Sir James Knot Trust
Garfeld Weston Foundaton
Armed Forces Covenant Fund Trust
Big Salute
Byker Ward
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
Angling Trust
Drapers Charitable Trust
SH Capital Works
Liverpool Men's Suicide Preventon
Speke House SCW post
Morrisons Foundaton
Natonwide
Running costs funding
Albert Gubay Foundaton
The Mercers' Company
Speke House ETS post
BAE
**TOTAL FUNDS**|At 1.7.22
£
1,285,601
29,164
4,169
15,313
24,433
499
374
12,955
2,494
2,443
2,651
2,286
-
2,008
4,081
2,282
41,172
-
-
-
-
-
146,324
1,431,925|Net
movement
in funds
£
(54,607)
7,930
-
-
(21,977)
-
-
2,880
10,000
19,014
-
(2,286)
20,000
(1,233)
(3,617)
-
(11,129)
1,237
9,471
6,095
6,055
(2,803)
39,637
(14,970)|Transfers
between
funds
£
42,732
-
(4,169)
(15,313)
(962)
-
-
(10,000)
(12,494)
-
-
-
(343)
-
(464)
-
(2,801)
-
1,011
-
-
2,803
(42,732)
-|At
30.6.23
£
1,273,726
37,094
-
-
1,494
499
374
5,835
-
21,457
2,651
-
19,657
775
-
2,282
27,242
1,237
10,482
6,095
6,055
-| |---|---|---|---|---| |||||143,229| |||||1,416,955| Page 29 **AF&V LAUNCHPAD LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **19. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Army Benevolent Fund
Armed Forces Covenant Fund Trust
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
Drapers Charitable Trust
SH Capital Works
Liverpool Men's Suicide Preventon
Speke House SCW post
Steve Morgan Foundaton
Natonwide
Running costs funding
VIVO Defense Services Ltd
Albert Gubay Foundaton
County Durham Community Foundaton
The Mercers' Company
Speke House ETS post
BAE
**TOTAL FUNDS**|Incoming
resources
£
1,004,197
49,222
18,512
10,000
10,000
22,657
-
20,000
-
-
9,323
-
7,000
10,000
57,163
5,000
42,799
7,000
-
268,676
1,272,873|Resources
expended
£
(1,058,804)
(41,292)
(40,489)
(7,120)
-
(3,643)
(2,286)
-
(1,233)
(3,617)
(9,323)
(11,129)
(5,763)
(10,000)
(47,692)
(5,000)
(36,704)
(945)
(2,803)
(229,039)
(1,287,843)|Movement
in funds
£
(54,607)
7,930
(21,977)
2,880
10,000
19,014
(2,286)
20,000
(1,233)
(3,617)
-
(11,129)
1,237
-
9,471
-
6,095
6,055
(2,803)
39,637
(14,970)| |---|---|---|---| Page 30 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **19. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Army Benevolent Fund
Sir James Knot Trust
Garfeld Weston Foundaton
Armed Forces Covenant Fund Trust
Big Salute
Avondale House AM post
Byker Ward
Hadrian Trust
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
Angling Trust
B&Q Neighbourly
Drapers Charitable Trust
SH Capital Works
Liverpool Men's Suicide Preventon
Speke House SCW post
Morrisons Foundaton
Natonwide
BCT/Karbon
**TOTAL FUNDS**|At 1.7.21
£
1,204,108
31,835
4,173
-
70,453
961
5,720
439
-
5,835
7,494
-
2,651
5,000
15,000
5,000
2,740
4,565
2,871
-
-
164,737
1,368,845|Net
movement
in funds
£
13,635
4,905
5,000
26,631
(45,106)
(462)
(5,720)
(65)
2,000
17,120
10,000
2,443
-
(5,000)
(12,714)
6,199
(732)
2,468
(589)
42,786
281
49,445
63,080|Transfers
between
funds
£
67,858
(7,576)
(5,004)
(11,318)
(914)
-
-
-
(2,000)
(10,000)
(15,000)
-
-
-
-
(11,199)
-
(2,952)
-
(1,614)
(281)
(67,858)
-|At
30.6.22
£
1,285,601
29,164
4,169
15,313
24,433
499
-
374
-
12,955
2,494
2,443
2,651
-
2,286
-
2,008
4,081
2,282
41,172
-| |---|---|---|---|---| |||||146,324| |||||1,431,925| Page 31 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **19. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Army Benevolent Fund
Sir James Knot Trust
Garfeld Weston Foundaton
Armed Forces Covenant Fund Trust
Big Salute
Avondale House AM post
Byker Ward
Hadrian Trust
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
B&Q Neighbourly
Drapers Charitable Trust
SH Capital Works
Liverpool Men's Suicide Preventon
Speke House SCW post
Morrisons Foundaton
Steve Morgan Foundaton
Natonwide
BCT/Karbon
**TOTAL FUNDS**|Incoming
resources
£
803,736
45,947
5,000
30,000
8,438
-
-
-
2,000
20,000
10,000
17,046
-
-
37,000
-
15,000
-
12,431
46,384
281
249,527
1,053,263|Resources
expended
£
(790,101)
(41,042)
-
(3,369)
(53,544)
(462)
(5,720)
(65)
-
(2,880)
-
(14,603)
(5,000)
(12,714)
(30,801)
(732)
(12,532)
(589)
(12,431)
(3,598)
-
(200,082)
(990,183)|Movement
in funds
£
13,635
4,905
5,000
26,631
(45,106)
(462)
(5,720)
(65)
2,000
17,120
10,000
2,443
(5,000)
(12,714)
6,199
(732)
2,468
(589)
-
42,786
281
49,445
63,080| |---|---|---|---| ## **Purpose of Restricted Funds** Household packs for residents, furniture, heating and salaries. Towards SCW post at Speke House. Army Benevolent Fund (ABF) Armed Forces Covenant Queen Mary's Roehampton Trust Speke House capital works Routine expenditure and relief work for war pensioners. Funded by the Bernard Sunley Foundation £15,000 and the Hobson Charity £5,000. Steve Morgan Foundation Albert Gubay Foundation Towards the post of Specialist Case Worker at Speke House. Avondale House Projects post £28,871 and Speke House Activities Co-ordinator post £28,292. Grant for Lead Supp Wkr and CCTV/WiFi upgrade at Hollyacre House Towards ETS worker at Speke House and funded by the Albert The Mercers' Company Speke House ETS post Hunt Trust £7,000. Page 32 **AF&V LAUNCHPAD LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **20. EMPLOYEE BENEFIT OBLIGATIONS** The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £18,026 (2022: £14,461). ## **21. RELATED PARTY DISCLOSURES** During the year £145,200 (2022 :£160,800) was received in grants from the Veterans' Foundation. David Shaw is the CEO of both AF & V Launchpad Limited and The Veterans' Foundation. Page 33 **AF&V LAUNCHPAD LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023** |Unrestricted
funds
£
**INCOME AND ENDOWMENTS**
**Donatons and legacies**
Gifs in kind
18,609
Donatons
26,605
Grants
151,700
196,914
**Investment income**
Bank interest receivable
10,357
**Charitable actvites**
Rent receivable
434,671
Service charges receivable
334,490
Sponsorship and fundraising events
11,900
781,061
**Other income**
Employment allowance
5,000
Insurance claim
4,252
Recharged expenses
1,502
Other income
5,111
15,865
**Total incoming resources**
1,004,197
**EXPENDITURE**
**Charitable actvites**
Wages
451,584
Social security
44,374
Pensions
13,695
Rent
55,091
Rates and water
12,822
Insurance
10,672
Light and heat
93,684
Telephone
7,953
Advertsing, promoton and website
26,053
Sundries
7,280
Repairs and maintenance
78,152
Professional fees
15,886
Carried forward
817,246|Restricted
funds
£
-
10,000
266,084
276,084
-
-
(7,408)
-
(7,408)
-
-
-
-
-
268,676
142,905
13,358
4,331
-
-
-
-
-
-
-
30,727
-
191,321|30.6.23
Total
funds
£
18,609
36,605
417,784
472,998
10,357
434,671
327,082
11,900
773,653
5,000
4,252
1,502
5,111
15,865
1,272,873
594,489
57,732
18,026
55,091
12,822
10,672
93,684
7,953
26,053
7,280
108,879
15,886
1,008,567|30.6.22
Total
funds
£
11,464
20,814
410,327| |---|---|---|---| ||||442,605
3,698
375,152
222,257
-| ||||597,409
5,154
3,033
1,364
-| ||||9,551| ||||1,053,263
445,433
46,125
15,486
70,999
5,846
8,887
44,855
6,811
24,716
8,514
103,731
68,065
849,468| This page does not form part of the statutory financial statements Page 34 **AF&V LAUNCHPAD LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023** |Unrestricted
funds
£
**Charitable actvites**
Brought forward
817,246
Other ofce costs
8,765
Travel & accommodaton
5,244
Residents events & support and project costs
18,812
Fundraising costs
66,694
Bad debts
29,267
Cleaning
4,175
Staf Training
6,797
IT Sofware and Consumables
5,103
Motor expenses
3,485
Subscriptons
1,861
Household packs for residents
621
Furniture Pack Purchase
(1,053)
Furniture Rental
9,942
Depreciaton of tangible fxed assets
52,955
Bank loan interest
15,250
1,045,164
**Support costs**
**Finance**
Bank charges
140
**Governance costs**
Auditors' remuneraton
7,500
Accountancy and legal fees
6,000
13,500
Total resources expended
1,058,804
**Net income**
(54,607)|Restricted
funds
£
191,321
-
295
24,832
7,120
-
-
-
-
-
-
1,028
4,443
-
-
-
229,039
-
-
-
-
229,039
39,637|30.6.23
Total
funds
£
1,008,567
8,765
5,539
43,644
73,814
29,267
4,175
6,797
5,103
3,485
1,861
1,649
3,390
9,942
52,955
15,250
1,274,203
140
7,500
6,000
13,500
1,287,843
(14,970)|30.6.22
Total
funds
£
849,468
8,022
9,146
33,350
-
5,668
1,865
1,039
-
-
-
7,870
14,491
17,381
38,687
696| |---|---|---|---| ||||987,683
-
2,500
-| ||||2,500| ||||990,183| ||||63,080| This page does not form part of the statutory financial statements Page 35