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← Af&v Launchpad Limited

2025-06-30-accounts

REGISTERED COMPANY NUMBER: 08633047 (England and Wales) REGISTERED CHARITY NUMBER: 1153185

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

AF&V LAUNCHPAD LIMITED

Streets Audit LLP c/o The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

AF&V LAUNCHPAD LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

Page
Report of the Trustees 1 to 15
Report of the Independent Auditors 16 to 18
Statement of Financial Activities 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Cash Flow Statement 22
Notes to the Financial Statements 23 to 37
Detailed Statement of Financial Activities 38 to 39

AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

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 2025. 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

Chair's Report

I am pleased to report that Launchpad Homeless Veterans Charity has housed and provided essential support to 178 veterans this year and over 810 since inception in 2013, thus aiding a successful transition to civilian life.

Over the past year, on average 35% of our residents gained employment during their stay and 80% moved on successfully; these are exceptional figures, as around 86% of our residents came from a homeless background with 81% suffering with mental health problems and 76% said that they could not afford to buy food prior to joining us and most were reliant upon food banks. It was not surprising to read therefore that 78% were down or depressed, 67% had low self-confidence and 54% revealed that they were experiencing suicidal thoughts.

Our results for the last year, evidence a path of continuous improvement and this is even more remarkable, given that we have been implementing transformational business change during the period, which I will talk a little more about later. Launchpad is a unique organisation because we provide individually tailored wrap around support to homeless veterans, who often present with very complex needs. The programme of services which we offer to our residents, aims to help them to regain confidence (over a third of our residents have told us that they have no confidence) and then to develop and grow. When ready to do so, our training and employment staff help residents in this regard before they eventually move on to independent living. We continue to offer floating support, until no longer required to ensure that every veteran gets the best opportunity to succeed and thrive.

Launchpad provides 98 flats for veterans and their partners in three locations, Newcastle upon Tyne, Liverpool and Durham. Occupancy of Launchpad's houses continues to be high and the demand for our services far out outweighs supply, we had 361 homeless veterans approach/referred to us during the year. The important work that Launchpad does significantly helps to reduce homelessness among veterans, particularly in the North of England. The ONS Census 2021 reported that the North East had the second highest number of veterans in England.

The Charity benefitted enormously from the Government's Reducing Veterans Homelessness initiative and received nearly £700K over two years (until August 2025) to focus support in five areas of work with our residents: psychotherapy, activities, training and employment and independent living support.

A new Chief Executive (CE) was appointed in August 2024 who is a highly qualified and experienced CE and housing professional. She has led the organisation through a period of positive transformational change, including the recruitment of four new trustees to strengthen the board with new skills, an independent good governance review accompanied by an excellence in governance training day and Board strategy day for all trustees. There has been the implementation of a new governance framework, a risk and assurance framework, performance management reporting, the development of a 30 year Business Plan and the cocreation of a new Launchpad strategy for 2030.

I would like to record my thanks to the many funding organisations (listed later in the report) and volunteers who have supported Launchpad during the year. Furthermore, corporate organisations have become very involved with each of the houses, providing volunteers to carry out tasks in the houses, funding, support for our annual charity dinner, gifts in kind and other donations.

I would very much like to put on record my thanks to our trustees and our devoted staff who work tirelessly for the good of our homeless residents and for Launchpad Charity. Also those individuals 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 this successful joint effort that makes the difference.

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

During the collaborative creation of our new strategy this year it was humbling to read how the residents we consulted (both past and present) referred to our staff as "unsung heroes and lifesavers" and how they rated their experience with us a 9/10, siting that the mental health and the activities to improve confidence and wellbeing, along with help to find long term accommodation were the three most important things for them. It's a fact that veterans find it very hard to use mainstream services and so it came as no surprise to hear from 95% of our residents that they received critical support and help from Launchpad that they couldn't achieve from anywhere else.

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).

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

OBJECTIVES AND ACTIVITIES Significant activities Strategy

A new Strategic Vision, Mission and Values for 2030 is under development and is programmed to launch in January 2026.

The current operational strategy includes 6-stages of care to residents, on top of housing and financial advice:

Service Delivery

Launchpad provides each veteran resident with a self-contained studio apartment and other internal and external communal facilities. Residents pay rent, either via housing benefit, income or savings, in the majority of cases for up to two years. During the year the average stay for a resident has been 13 months. Each veteran is assessed on arrival and an individually tailored care and developmental plan is put in place. It will demonstrate a 'journey to change' and takes into account the individual's health, wellbeing and ambitions using the Outcome Star methodology which is a collaborate and comprehensive approach to change. Working with other organisations, Launchpad provides welfare and mental health support, as well as signposting to experts, as necessary; then we help our residents to acquire jobs, via training if necessary, and permanent housing. Follow on floating support for independent living is provided as required.

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.

House Management

Each House is run by a Manager, a Deputy Manager and staff to cover operations, facilities, welfare, mental health, activities, training and employment, and independent living support. The Manager of Avondale House has also managed Hollyacre House and has two Deputy Managers on that basis. The number of staff for the 3 houses comprised 22 full-time and 4 part-time employees.

Fundraising

Launchpad has engaged individual contractors to raise corporate donations. This has had a major impact, particularly through giftsin-kind and volunteering from some well-established names such as: Esh Construction, BAE Systems, EQUANS, Astra Zeneca, Asda, Morrisons, Tesco, Feeding Families, Bell Group, BITA, B&Q, John Turner Construction and others.

Capidale continue to support us to raise grant funding applications.

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.

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

ACHIEVEMENTS AND PERFORMANCE Charitable activities

Launchpad has looked after over 810 veterans since opening in 2013. 178 veterans lived in Launchpad's three houses this year, and the statistics below demonstrate a positive trajectory towards successful outcomes for our residents

Key outcome statistics for the year are as follows:

Category AvondaleHouse HollyacreHouse SpekeHouse Total No.(% of whole)
Residents during year 58 27 93 178
Residents at year-end 31 / 33 (97%) 14 / 15 (93%) 50 / 50 (100%) 95 / 98 (98%)
Residents from a
homelessbackground 51 / 58 (88%) 17 / 27 (63%) 85 / 93 (91%) 153 / 178 (86%)
Residents gaining employment in
the 17 / 58 (29%) 3 / 27 (11%) 42 / 93 (45%) 62 / 178 (35%)
year
Residents from HMP 1 / 58 (2%) 0 / 23 (0%) 6 / 93 (6%) 7 / 178 (4%)
Residents who left during this 27 13 43 83
period
Successfully moved on from
Launchpad 24/27 (89%) 11/13 (85%) 31/43 (72%) 66/83 (80%)
Employment on move-on 10 (37%) 1 (8%) 18 (42%) 29 (35%)

At an individual level, we use the Home Star (developed by Outcomes Star) to support and track veterans' progress across a wide range of measures. To gain an overall view, we undertake an annual, in-depth resident survey which includes quantitative and qualitative evaluation questions to ensure veterans contribute to our strategic planning and to inform our drive for continuous improvement.

68 veterans supported by Launchpad completed our 2025 evaluation survey, an increase of 28 from 2024. They reported the following outcomes:

We also ask veterans to tell us about their experiences before coming to Launchpad. The veterans responding to our 2025 survey in reported the following pre-Launchpad experiences and support needs:

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Case Study

Nicholas Parsons - Speke House

"I'd still be homeless and really struggling with my mental health if it wasn't for Launchpad."

Nicholas (Nic) served in the Royal Navy from 1985 to 1999, working his way up to the role of Leading Weapons Engineer. Throughout his military career, he was involved in significant conflicts, including the Iran/Iraq conflict, the First Gulf War, and Bosnia.

During his service, Nic was diagnosed with glaucoma. Initially, the condition had little impact on his eyesight, allowing him to continue serving. However, as he transitioned to civilian life, the progressive deterioration of his vision presented new challenges. Wanting to spend more time with his young family, Nic left the Navy and joined the ambulance service as a paramedic. He thrived in this role until 2009 when, due to his worsening eyesight, he was forced to surrender his driving license.

Determined to remain independent and continue working, Nic took on a role in a hospital, where he remained for four years. Unfortunately, as his eyesight continued to decline, he was ultimately forced to give up employment altogether. Alongside these challenges, Nic was also diagnosed with PTSD as a result of his military service.

The strain of his health issues took a toll on his personal life, leading to a relationship breakdown and further instability. At his lowest point, Nic found himself without a home, relying on sofa surfing with friends as home, while struggling with his mental health. Seeking support, he reached out to Op COURAGE, who referred him to Op FORTITUDE. This connection led to his arrival at Speke House in August 2024, providing him with a stable environment and a renewed sense of hope.

At Speke House, Nic received ongoing support from Op COURAGE and Blind Veterans UK. Beyond having a safe place to stay, he engaged in mental health support and participated in organized activities whenever possible. A particular highlight for Nic was a guided tour of HMS Prince of Wales when she visited Liverpool in December 2024, reconnecting him with his naval roots.

Although medically retired, Nic was eager to find ways to remain active and contribute to the community. With support from Speke House's Training and Employment Specialist, he secured a volunteer role with the National Trust at Speke Hall. This opportunity gave him a renewed sense of purpose, allowing him to stay engaged and continue making a positive impact.

Reflecting on his journey, Nic shared, "I'd still be homeless and really struggling with my mental health if it wasn't for Launchpad." Thanks to the support he has received, he now feels mentally stronger, happier, and more optimistic about the future.

Nic has worked with Speke House's Independent Living Coordinator and in August 2025 he relocated to his home town of Gosport, housed through Agamemnon Housing Association with the support of Riverside Housing contacts, where he is living his best life and has settled into his new accommodation.

Nic's story is a powerful testament to resilience, support, and the impact of community-driven initiatives. As he looks ahead, Nic is hopeful for the future, embracing stability, independence, and a renewed sense of belonging.

Community Projects

Avondale House

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Hollyacre House

Speke House

Partner Organisations

Launchpad depends on partner organisations to affect 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

Welfare

Therapaws, Newcastle United Armed Forces Supporters Club, RBL (Battle back), SSAFA, ABF, Newcastle Treatment and Recovery (NTAR), WWTW, Project Nova, Newcastle City Council, Gateshead Local Authority, Feeding Families, Newcastle Veterans Hub, Care After Combat, H4H Geo/Lisa projects, Newcastle Rugby Foundation, Greggs Trust, Crisis support scheme, Lighthouse Project, Newcastle Building Society, WinG Outdoors, EE, West Acre Stables, OP Courage Open Day, Newcastle Treatment and Recovery (NTAR), NHS Suicide Prevention, Local Authority Safeguarding Team. PTSD UK. Veterans UK. Mental Health Newcastle Treatment and Recovery (NTAR), Op Courage, MIND, Combat Stress, Veterans at Ease, Anxious Minds, Talking Therapies, Mental Health Concern, Samaritans, NHS Community Mental Health Team, Head Start, NTAR, Integrated Drug & Alcohol service, Crisis Team, Samaritans. Diversionary Activities St Lawrence Church, St Laurance School, Byker Primary School, Byker Community Trust, EE and Newcastle Building Society Gardening Activities, Wellness Walks Veterans Breakfast Club, Boxing, Go-Karting, Crafts, Gym, Beamish visits, Painting & Decorating activity, Battle Back Residential activity centre, Castle and Museum Visits, Fishing, Quiz Nights, Barista Sessions, Arts and Crafts, Mission Motorsport, Rock Climbing Northern Outdoors, Flight Simulator Employment Training Engineering & Maintenance, Construction Trades, Computing, Tech & IT, Logistics, Delivery & Transport, Hospitality & Retail, Sports & Leisure, Environmental & Land-Based Services, NHS & Health, Local Education & Community VolunteeringWellbeing & Outdoor Pursuits.

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Education and Training Maintained strategic partnerships with: NE Business Partnership, NE Combined Authority, Durham Works, NE Work & Thrive, DWP, County Councils, Armed Forces Covenant, veterans' charities, local colleges/universities.Expanded corporate links in construction, engineering, IT, health, and retail.Established partnership with Thirteen Group Housing to make full use of the HENNE partnership initiative to support our veterans' transition from supported housing. Maximized recruitment opportunities via careers fairs (Eventbrite platform).Site visits with Pearson Engineering and Esh Group.Meeting with Esh Group. Groundworker training, programme is 6-8 weeks Housing Gateshead Council, AFOS (Northumberland, Newcastle, North Tyneside, Durham, Gateshead), HAC, Private Landlords, My Space, Changing Lives, Riverside, Veterans Gateway, Shelter, Byker Community Trust/Karbon Homes, Gentoo, Your Homes Newcastle, South Tyneside Homes, Gateshead Housing, Anchor Housing, Thirteen Group. Others Money Matters, Veterans UK, CAB, SSAFA, RBL, ABF, EE, National Energy, Neighborhood Police, GP's, Dentists, Local Health centers, Newcastle Law Centre, Local Community Centers, Newcastle Carers. Health and Social Care Direct Safeguarding Team, Armed Forces Forums each of the LA's, Op Forcer Protocol Speke House Welfare Veterans Welfare, RBL, Everton in the Community, Tom Harrison House,Rise, Project Nova, Carpenters Arms, Integrated Recovery Services, WWTW, Veterans Aid, Social Services, SWAGGA / NHS, Armed Forces Community HQ Mental Health Talk Liverpool, Moss House, CHATS, Local GP /CPN support, Op Courage, PTSD UK, John Lucas - Therapist, Mindset matters, Combat Stress, Life Ways, NHS crisis team, SWAGGA / NHS, CGL (Change Grow Live) Diversionary Activities Everton in the Community, Battle-Back Centre, LFC Foundation,Cat Zero, Bearded Men, Mission Motorsport, Dutch Farm/YMCA, Donkey Sanctuary, Fishing club, Calmer Waters, Breakfast Club, Air fix Model Club, Cycling Club, Cooking Club, Allotment & Gardening Club, CFO Training, Education &Employment Speke Training and Education Centre, DWP, Sovini Group, Liverpool in Work, Inside Connections, Veterans into Logistics, Training Solutions, FTW Training, Building Heroes, Speke Hall, Seascope, CE3, Catch 22, NWA Academy, Job Skilla, Training & Employment Services, OPS, Veterans Job Board, WWTW, Life Works, High Ground, Myerscough College, Red Stone, On Point Track, Premier Traffic Management, Complete Skills Solutions, B2work , Poppy Factory, New Beginnings, Risley Prison-Upcycle, Learning Foundry Housing South Liverpool Homes, Property Pool Plus, CC Housing, Riverside, Anchor Housing, Liverpool Mutual Homes, Tarus, Housing 21, Op Fortitude, Private Landlords, Eds Homes, Care After Combat

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Others Warrior Programme, B&Q Neighbourly, Local councillors, AstraZeneca, Morrisons, Tesco, Asda, Royal Navy, Probation & Community payback service, All Saints Church & Local neighbourhood. Ladies Fellowship group, Home Office, B&M Hollyacre House Welfare WWTW, Project Nova, Live Well NE, RBL, SSAFA, ABF, East Durham Veterans Trust, Age UK, DCC Safeguarding team, NHS HealthSquad, H4H, Battle Back, WWTW, Gym 24 Sacriston, Veterans welfare Officer MOD. Mental Health On Site Psychotherapist, Chester-Le-Street Mental Health Clinic, Anxious Minds, Veterans at Ease, GP, Secondary Mental Health, Lanchester Hospital, Tees, Esk and Wear Valley Foundation NHS Trust, CRISIS, H4H, WWTW, OP Courage, East Durham Veterans Trust. Diversionary Activities Battle Back, The Old Church Sacriston, Men's Shed Witton Gilbert,Battle Zone, DCC Health Squad, Durham & Darlington NHS Trust. Employment Training ESH Group, RFEA, BAE, RE: GEN Group, Orange Box, Kier Construction,H4H, WWTW, NE County Council Employment and Training Coordinator Education and Training Northern Learning Trust, NE Councils Education/Colleges Durham Learn/Multiply, Northern Learning Trust, Orange Box, RE COCO College Housing AFOS, Durham Key Options (19 Housing Providers), Home Group, Anchor Housing, SHIP Others Supported Housing Improvement Programme Team, Durham Armed Forces Forum, Non-Commissioned Housing Providers Forum, Armed Forces Business Forum

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

FINANCIAL REVIEW

Financial position

Income for the year totalled £2,113,702 (2024 - £1,655,221) which included restricted grant income of £598,297 (2024 - £601,916) less restricted deduction to rents of £6,886 (2024 £6,719) for heating grants and unrestricted income of £1,522,291 (2024 - £1,060,024) arising from rents, service charges, bank interest and donations.

Expenditure for the year totalled £1,770,586 (2024 - £1,589,384) of which £652,652 (2024 - £493,587) was restricted expenditure leaving unrestricted expenditure of £1,117,934 (2024 - £1,095,797).

There was an overall surplus of £343,116 for the year (2024 surplus £65,837).

Net assets at 30th June 2025 totalled £1,825,908 (2024 - £1,482,792). This included fixed assets of £1,012,277 debtors of £95,721, cash at bank of £1,081,891, short term liabilities of £148,819 and long term liabilities of £215,162.

Reserves held at 30 June 2025 totalled £1,825,908 (2024: £1,482,792) made up of Unrestricted Funds £1,650,246 (2024 £1,237,953) and Restricted Funds £175,662 (2024 £244,839).

In accordance with the Charities SORP (FRS 102), a proportion of income received during the year relates to activities in future periods and has been carried forward. This comprises restricted funds, which will be applied in accordance with funder stipulations, and unrestricted funds designated by the Trustees for expenditure in the 2026 financial year.

Launchpad's principal sources of income (over £10,000) in the last year have been:

The Armed Forces Covenant Fund Trust Greenwich Hospital Army Benevolent Fund Pearsons Engineering Ltd. The Albert Gubay Charitable Foundation The Veterans' Foundation Queen Mary's Roehampton Trust Lloyds Patriotic Fund Garfield Weston Forresters Family Trust Legacy of Sheila Haigh

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 and other expenses on Avondale House to Karbon Homes, repairs and maintenance, health and safety compliance, salaries, running costs, capital expenditure and veterans' activities. We have yet to build up sufficient reserves to require investment objectives, other than to maximise income via performance improvement and bank interest.

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

FINANCIAL REVIEW

Reserves policy

Our aim is to build up sufficient reserves to cover the following:

Unforeseen emergency (eg repairs) Temporary staff costs Income ceased, or halted unexpectedly Grant cessation Closure - Redundancy £102,027 3 months running costs - £442,647

This currently amounts to £874,700 Actual reserves excluding fixed assets were £813,631 at 30 June 2025. The Reserves Policy is reviewed from time to time.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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.

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The organisation of Launchpad is as follows: Executive CEO: Jill Murray (part of year - Aug 24 to current) CEO: Maj Gen David Shaw CBE (part of year - retired July 24) Charity Sec: Amanda J Crompton Head of Finance: Silvana Michelini (part of year - November 24 to current) Head of Operations: Samantha Jackson (part of year - May 25 to current) Building Management & ICT: Dave Jackson Executive Assistant: Heather Bond (part of year - June 25 to current) Trustees Lucy Perriam (Chair) Brigadier (Retd.) Paul JA Baker OBE Lieutenant Colonel(Retd.) Richard Dixon- Warren - resigned as Trustee 6.11.25 Ian Dormer CBE - appointed 16.11.24 Sarah-Louise McCartney Katherine McGough - appointed 18.11.24 Major (Retd.) Ken McMillan MBE Colonel (Retd.) Philip Mixer - resigned as Trustee 7.11.24 Aaron Sahota - appointed 8.1.25 Christine Smith - appointed 19.11.24 Colonel (Retd.) Mark Underhill OBE DL

Avondale House

Manager: Phil Thompson

Deputy Manager/Facilities Lead: Christopher Longstaff (part of year - April 25 to current) Deputy Manager/AM (Facilities): Andrew Hardy (part of year - June to Dec 24) Specialist Caseworker: Ann Rees Lead Support Worker: Elaine Thompson Activities Coordinator: Bethan McNally (part of year - Jan 25 to current) AM (Projects): Sam Hughes (part of year - July to Oct 24) Employment & Training Specialist: Ian Summerson Independent Living Coordinator: Gayle Young (part of year - Oct 24 to current) Housekeeper: Susan McKenna

Hollyacre House

Manager: Phil Thompson Deputy Manager/Lead Support Worker: Sharon Hudson Assistant Manager Finance & Budgets: Tina Burrell Assistant Manager Facilities: Steven Dodd Independent Living Coordinator: Mary Douglas Activities Coordinator & Caretaker: Chris Jackson

Speke House

Manager: Samantha Jackson Deputy Manager: Kate Riley Deputy Manager: Nicola Higham (part of year - July 24 to May 25) Activities Coordinator: Jan Buckley Specialist Caseworker: Jim Riley Employment & Training Specialist: Patrick Donoghue Independent Living Coordinator: Robert Lockyer Facilities Coordinator: Dave Jackson Deputy Facilities: John Roberts Maintenance: Paul Bernstein Housekeeper: Collette Cochrane

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees

Following a Board Skills Matrix Assessment in September 2024, it was agreed that it would be prudent to seek new skills to the Board. A specialist recruitment agency was appointed to undertake a wide advertising campaign for new Trustees. Four new Trustees were then appointed following applications, shortlisting and interviews in November. One Trustee also stood down at this time for personal reasons. Launchpad now have a total of ten.

The four new trustees bring a wealth of valuable knowledge, qualifications and experience to Launchpad and include:

Governance

An independent governance and assurance review was commissioned in accordance with Launchpad's required compliance with the Charity Commission, Cobseo, HMRC and other regulatory bodies as applicable, to include delegation of authorities within an organisational structure covering the Board, Finance and Risk Committee, Governance and Remuneration Committee, CEO and staff team. A full Board skills audit was also undertaken, and four new Trustees were appointed who brought essential new skills to the Board such as (not exhaustive) good governance, internal audit and risk assurance, supported housing, asset management and development, performance management, HR, culture and people services.

The full Board received training on Launchpad's new Governance Framework on 23 January 2025, including the Board and Committee structure and associated Terms of Reference. Trustees have volunteered their services for membership of these committees

Trustee meetings are held quarterly and supported by a Finance and Risk Committee Meetings and Governance and remuneration Committee Meetings. Following extensive consultation with our veteran residents (past and present) and the staff team, based around a 'what's strong, wrong and missing' review, a Board Strategy Day was held to look at the results, strategic risks and other information, an informal Sub Group was then tasked to work with the CEO on the further development of Launchpads Strategy for 2030, and to report back to the main Board.

The Charity has completed the Cobseo assessment 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.

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Board Attendance

The table below illustrates Trustee attendance at meetings during the period:

Board Attendance during financial year 2024/25

Board Meeting
Dates
Trustees 9 Aug 2024 7 Nov 2024 13 Feb 2025 8 May 2025 Total
Lucy Perriam
(Chair)		 Attended Attended Attended Apologies 3/4
Ken McMillan Attended Attended Attended Absent 3/4
Richard
Dixon-Warren		 Apologies Attended Apologies Apologies 1/4
Mark Underhill Apologies Apologies Apologies Attended 1/4
Sarah-Louise
McCartney		 Attended Attended Attended Attended 4/4
Paul J A Baker Apologies Attended Attended Attended 3/4
Ian Dormer N/A N/A Attended Attended 2/2
Katherine
McGough		 N/A N/A Attended Attended 2/2
Christine Smith N/A N/A Attended Attended 2/2
Aaron Sahota N/A N/A Attended Attended 2/2
Philip Mixer
(retired)		 Apologies Attended N/A N/A 1/2
Trustees
Finance & Risk
Committee		 3 April 2025 21 July
2025		 23 October
2025		 Total
Mark Underhill -
(Chair)		 Attended Attended Attended 3/3
Sarah-Louise
McCartney		 Apologies Attended Attended 2/3
Ken McMillan Attended Apologies Attended 2/3
Aaron Sahota Attended Attended Apologies 2/3
Governance &
Remuneration 25 March 2025
Committee
Katherine McGough
(Chair)		 Attended 1/1
Paul J A Baker Attended 1/1
Ian Dormer Attended 1/1
Christine Smith Attended 1/1

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

Strategic risks are owned by the Board and the Risk Management Framework is a vital part of the Board's assurance that Launchpad is properly managed.

A new Risk and Assurance Framework and Risk Appetite was implemented during the year. The Strategic Risk Register is reviewed by the Senior Management Team monthly, the Finance and Risk Committee quarterly and then the Board quarterly. Operational Risk Registers are monitored by the House Managers and staff.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08633047 (England and Wales)

Registered Charity number 1153185

Registered office Enterprise House Harmire Enterprise Park Barnard Castle DL12 8XT

Trustees Lucinda Perriam Brigadier(Retd.) Paul J A Baker OBE Lieutenant Colonel (Retd.) Richard Dixon-Warren (resigned 6.11.25) Ian Dormer CBE (appointed 16.11.24) Sarah-Louise McCartney Katherine McGough (appointed 18.11.24) Major (Retd.) Ken McMillan MBE Colonel (Retd.) Philip Mixer (resigned 7.11.24) Aaron Sahota (appointed 8.1.25) Christine Smith (appointed 19.11.24) Colonel (Retd.) Mark Underhill OBE DL

Manager of Avondale House & Hollyacre House Phil Thompson

Manager of Speke House and Head of Operations

Samantha Jackson

Company Secretary Amanda J Crompton

Auditors

Streets Audit LLP c/o The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

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AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Co-Operative Bank Royal Bank of Scotland PO Box 101 Holt's Farnborough Branch 1 Balloon Street Lawrie House Manchester Victoria Road M60 4EP Farnborough GU14 7NR

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of AF&V Launchpad Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Streets Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 5 February 2026 and signed on its behalf by:

Lucinda Perriam - Trustee

Page 15

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

Opinion

We have audited the financial statements of AF & V Launchpad Limited the 'charitable company') for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Page 16

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector;

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, Charities Act 2011, Information Commissioner, and Fundraising Regulator.

We assessed the compliance with laws and regulations identified above through making enquires of management and inspecting correspondence.

These were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We considered the internal controls in place that would mitigate the risk of fraud and non-compliance with laws and regulations.

We identified the greatest potential for fraud or non-compliance with laws and regulations in the following areas, and the specific procedures performed to address them are described below:

Page 17

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

In addition to the above, our procedures to respond to the risk identified included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/OurWork/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-r esponsibilities-foraudit/Description-of-auditors-responsibilities-for-audit.aspx.

This description forms part of our auditor's report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Streets Audit LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Michael Greene BSc FCCA (Senior Statutory Auditor) for and on behalf of Streets Audit LLP c/o The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

17 February 2026

Page 18

AF&V LAUNCHPAD LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Avondale House
Speke House
Hollyacre House
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
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
£
416,507
467,849
413,257
186,522
25,436
12,720
1,522,291
406,598
523,634
187,702
1,117,934
404,357
7,936
412,293
1,237,953
1,650,246		 Restricted
funds
£
598,297
(6,886)
-
-
-
-
591,411
248,464
255,207
148,981
652,652
(61,241)
(7,936)
(69,177)
244,839
175,662		 30.6.25
Total
funds
£
1,014,804
460,963
413,257
186,522
25,436
12,720
2,113,702
655,062
778,841
336,683
1,770,586
343,116
-
343,116
1,482,792
1,825,908		 30.6.24
Total
funds
£
659,421
403,496
386,120
185,451
15,212
5,521
1,655,221
621,795
692,462
275,127
1,589,384
65,837
-
65,837
1,416,955
1,482,792

The notes form part of these financial statements

Page 19

AF&V LAUNCHPAD LIMITED (REGISTERED NUMBER: 08633047)

BALANCE SHEET 30 JUNE 2025

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 after more than one year
15
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
1,012,277
93,442
908,508
1,001,950
(148,819)
853,131
1,865,408
(215,162)
1,650,246		 Restricted
funds
£
-
2,279
173,383
175,662
-
175,662
175,662
-
175,662		 30.6.25
Total
funds
£
1,012,277
95,721
1,081,891
1,177,612
(148,819)
1,028,793
2,041,070
(215,162)
1,825,908
1,650,246
175,662
1,825,908		 30.6.24
Total
funds
£
1,044,939
73,982
700,872
774,854
(113,769)
661,085
1,706,024
(223,232)
1,482,792
1,237,953
244,839
1,482,792

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 5 February 2026 and were signed on its behalf by:

Lucinda Perriam - Trustee

The notes form part of these financial statements

Page 20

AF&V LAUNCHPAD LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the
reporting period
Cash and cash equivalents at the end of the
reporting period		 30.6.25
£
389,235
(13,022)
376,213
(13,010)
25,436
12,426
(7,620)
(7,620)
381,019
700,872
1,081,891		 30.6.24
£
113,565
(13,364)
100,201
(14,471)
15,212
741
(7,238)
(7,238)
93,704
607,168
700,872

The notes form part of these financial statements

Page 21

AF&V LAUNCHPAD LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest received
Interest paid
Increase in debtors
Increase in creditors
Net cash provided by operations		 30.6.25
£
343,116
45,672
-
(25,436)
13,022
(21,739)
34,600
389,235		 30.6.24
£
65,837
45,098
3,033
(15,212)
13,364
(14,838)
16,283
113,565

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1.7.24
£
700,872
700,872
(7,597)
(223,232)
(230,829)
470,043		 Cash flow
£
381,019
381,019
(450)
8,070
7,620
388,639		 At 30.6.25
£
1,081,891
1,081,891
(8,047)
(215,162)
(223,209)
858,682

The notes form part of these financial statements

Page 22

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

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 2025 there were 10 members / trustees 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 23

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

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 fittings - 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.

Page 24

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES - continued

Accounting policies continued

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.

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 cashgenerating 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.

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 25

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

2. DONATIONS AND LEGACIES

Gifts in kind
Donations
Grants
Grants received, included in the above, are as follows:
Army Benevolent Fund
Armed Forces Covenant Fund Trust
Albert Gubay Charitable Foundation
Leathersellers
Queen Mary's Roehampton Trust
Running costs funding
Charity of Sir Richard Whittington
Veterans' Foundation
Hadrian Trust
Scott (Eredine) Charitable Trust
BCT
Royal Navy and Royal Marines Charity
NBS Community Foundation
Liverpool Airport Community Fund
B&Q Neighbourly
Defence Medical Welfare Serive
Lloyds Patriotic Fund
Garfield Weston
Greenwich Hospital
Forrester Family Trust
Other grants
3.
INVESTMENT INCOME
Bank interest receivable		 30.6.25
£
6,004
180,553
828,247
1,014,804
30.6.25
£
93,705
332,678
62,530
10,000
10,000
7,000
-
55,000
-
5,000
-
-
-
-
-
8,334
19,000
35,000
130,000
60,000
-
828,247
30.6.25
£
25,436		 30.6.24
£
39,967
15,083
604,371
659,421
30.6.24
£
39,321
342,802
58,839
-
10,001
7,000
32,080
80,000
1,000
5,000
400
11,249
5,000
1,400
8,000
-
-
-
-
-
2,279
604,371
30.6.24
£
15,212

Page 26

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
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
CHARITABLE ACTIVITIES COSTS
Avondale House
Speke House
Hollyacre House
SUPPORT COSTS
Avondale House
Speke House
Hollyacre House		 Direct
Costs
£
644,443
763,072
331,363
1,738,878
Finance
£
590
575
156
1,321		 30.6.25
£
152,962
297,644
10,357
258,291
129,737
25,229
68,667
111,277
6,578
1,060,742
Support
costs (see
note 6)
£
10,619
15,769
5,320
31,708
Governance
costs
£
10,029
15,194
5,164
30,387		 30.6.24
£
144,648
250,135
8,713
241,575
128,682
15,863
72,878
109,802
2,771
975,067
Totals
£
655,062
778,841
336,683
1,770,586
Totals
£
10,619
15,769
5,320
31,708

5. CHARITABLE ACTIVITIES COSTS

6. SUPPORT COSTS

Page 27

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets
Other operating leases
Deficit on disposal of fixed assets		 30.6.25
£
10,450
45,672
71,000
-		 30.6.24
£
10,500
45,098
70,599
3,033

8. TRUSTEES' REMUNERATION AND BENEFITS

During the year one trustee, Sarah-Louise McCartney, received remuneration of £6,120 for PR and Comms services provided through her business, SLMC Consulting. This is in accordance with the Governing Document (the Articles of Association) as before contracting the services, the Trustees decided that it would be in the Charity's best interests and likely to promote the success of the Charity for the service to be provided by Sarah-Louise McCartney, as opposed to being provided by someone who is not a Trustee.

No other benefits or remuneration were provided to trustees.

There were no trustees' remuneration or other benefits for the year ended 30 June 2024.

Trustees' expenses

Three Trustees were reimbursed expenses of £751 in total for travel costs during the year ended 30 June 2025.

For the year ended 30 June 2024 one Trustee was reimbursed expenses of £383 for travel costs.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Average number of employees		 30.6.25
£
836,134
87,719
23,806
947,659
30.6.25
26		 30.6.24
£
742,603
68,863
22,618
834,084
30.6.24
24

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 £60,599 (2024:£54,840).

Page 28

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

10. MATERIAL TRANSFERS

During the year funds of £7,936 were transferred from the restricted funds to unrestricted funds. £7,858 of this was due to an underspend of a restricted grant received and the transfer was agreed with the grant provider. The remaining amount of £78 was due to minor underspends on various grants at the end of the grant term. During the previous year there were no transfers between restricted and unrestricted funds.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Avondale House
Speke House
Hollyacre House
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Avondale House
Speke House
Hollyacre House
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
57,505
410,215
386,120
185,451
15,212
5,521
1,060,024
429,022
472,639
194,136
1,095,797
(35,773)
1,273,726
1,237,953		 Restricted
funds
£
601,916
(6,719)
-
-
-
-
595,197
192,773
219,823
80,991
493,587
101,610
143,229
244,839		 Total
funds
£
659,421
403,496
386,120
185,451
15,212
5,521
1,655,221
621,795
692,462
275,127
1,589,384
65,837
1,416,955
1,482,792

Page 29

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

12. TANGIBLE FIXED ASSETS

COST
At 1 July 2024
Additions
At 30 June 2025
DEPRECIATION
At 1 July 2024
Charge for year
At 30 June 2025
NET BOOK VALUE
At 30 June 2025
At 30 June 2024
COST
At 1 July 2024
Additions
At 30 June 2025
DEPRECIATION
At 1 July 2024
Charge for year
At 30 June 2025
NET BOOK VALUE
At 30 June 2025
At 30 June 2024		 Freehold
property
£
350,000
-
350,000
17,894
8,750
26,644
323,356
332,106
Fixtures
and
fittings
£
120,542
9,973
130,515
75,837
11,966
87,803
42,712
44,705		 Improvements
to
Plant and
property
machinery
£
£
868,973
28,935
-
3,037
868,973
31,972
212,856
24,677
21,867
1,150
234,723
25,827
634,250
6,145
656,117
4,258
Motor
vehicles
Totals
£
£
61,330
1,429,780
-
13,010
61,330
1,442,790
53,577
384,841
1,939
45,672
55,516
430,513
5,814
1,012,277
7,753
1,044,939

Page 30

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

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 overdrafts (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 five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal		 30.6.25
£
41,777
6,446
47,498
95,721
30.6.25
£
8,047
29,575
22,166
20,048
68,983
148,819
30.6.25
£
215,162
30.6.25
£
8,047
8,523
28,677
177,962		 30.6.24
£
37,544
2,279
34,159
73,982
30.6.24
£
7,597
17,824
18,540
15,887
53,921
113,769
30.6.24
£
223,232
30.6.24
£
7,597
8,047
27,076
188,109

Page 31

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years
18.
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans		 30.6.25
£
75,219
294,548
47,333
417,100
30.6.25
£
223,209		 30.6.24
£
75,219
298,767
118,333
492,319
30.6.24
£
230,829

The loan is secured by a fixed charge against Hollyacre House, Sacriston, Durham.

Page 32

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Army Benevolent Fund
Armed Forces Covenant Fund Trust
Big Salute
Byker Ward
Hadrian Trust
Queen Mary's Roehampton Trust
Forces Support
Angling Trust
B&Q Neighbourly
SH Capital Works
Liverpool Men's Suicide Prevention
Morrisons Foundation
Nationwide
Running costs funding
Albert Gubay Charitable Foundation
Charity of Sir Richard Whittington
Royal Navy and Royal Marines Charity
Veterans' Foundation
NBS Community Foundation
Liverpool Airport Community Fund
Lloyds Patriotic Fund
TOTAL FUNDS		 At 1.7.24
£
1,237,953
31,666
113,324
499
374
500
834
14,751
2,601
5,970
19,657
1
2,282
8,727
724
7,936
466
2,812
26,667
5,000
48
-
244,839
1,482,792		 Net
movement
in funds
£
404,357
28,699
(59,028)
-
(374)
(126)
(1)
(11,273)
-
-
(19,657)
-
(348)
(1,516)
1,609
8,323
(403)
(2,812)
(18,334)
(5,000)
-
19,000
(61,241)
343,116		 Transfers
between
funds
£
7,936
447
(7,897)
-
-
(374)
-
-
-
-
-
(1)
-
-
-
-
(63)
-
-
-
(48)
-
(7,936)
-		 At
30.6.25
£
1,650,246
60,812
46,399
499
-
-
833
3,478
2,601
5,970
-
-
1,934
7,211
2,333
16,259
-
-
8,333
-
-
19,000
175,662
1,825,908

Page 33

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

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
Byker Ward
Hadrian Trust
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
SH Capital Works
Morrisons Foundation
Nationwide
Running costs funding
Albert Gubay Charitable Foundation
Charity of Sir Richard Whittington
Royal Navy and Royal Marines Charity
Veterans' Foundation
NBS Community Foundation
Defence Medical Welfare Service
Lloyds Patriotic Fund
TOTAL FUNDS		 Incoming
resources
£
1,522,291
86,819
332,728
-
-
10,000
10,000
-
-
-
-
7,000
62,530
-
-
55,000
-
8,334
19,000
591,411
2,113,702		 Resources
expended
£
(1,117,934)
(58,120)
(391,756)
(374)
(126)
(10,000)
(10,001)
(11,273)
(19,657)
(348)
(1,516)
(5,391)
(54,207)
(403)
(2,812)
(73,334)
(5,000)
(8,334)
-
(652,652)
(1,770,586)		 Movement
in funds
£
404,357
28,699
(59,028)
(374)
(126)
-
(1)
(11,273)
(19,657)
(348)
(1,516)
1,609
8,323
(403)
(2,812)
(18,334)
(5,000)
-
19,000
(61,241)
343,116

Page 34

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Army Benevolent Fund
Armed Forces Covenant Fund Trust
Big Salute
Byker Ward
Hadrian Trust
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
Angling Trust
B&Q Neighbourly
SH Capital Works
Liverpool Men's Suicide Prevention
Morrisons Foundation
Nationwide
Running costs funding
Albert Gubay Charitable Foundation
Charity of Sir Richard Whittington
Speke House ETS post
Royal Navy and Royal Marines Charity
Veterans' Foundation
NBS Community Foundation
Liverpool Airport Community Fund
TOTAL FUNDS		 At 1.7.23
£
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		 Net
movement
in funds
£
(35,773)
(5,428)
111,830
-
-
500
(5,835)
834
(6,706)
(50)
5,970
-
(774)
-
(18,515)
(513)
(2,546)
(5,629)
(6,055)
2,812
26,667
5,000
48
101,610
65,837		 At
30.6.24
£
1,237,953
31,666
113,324
499
374
500
-
834
14,751
2,601
5,970
19,657
1
2,282
8,727
724
7,936
466
-
2,812
26,667
5,000
48
244,839
1,482,792

Page 35

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

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
Armed Forces Covenant Fund Trust
Hadrian Trust
Leathersellers
Queen Mary's Roehampton Trust
Forces Support
Angling Trust
B&Q Neighbourly
Liverpool Men's Suicide Prevention
Nationwide
BCT/Karbon
Running costs funding
Albert Gubay Charitable Foundation
Charity of Sir Richard Whittington
Speke House ETS post
Royal Navy and Royal Marines Charity
Veterans' Foundation
NBS Community Foundation
Liverpool Airport Community Fund
TOTAL FUNDS		 Incoming
resources
£
1,060,024
32,602
347,626
1,000
-
10,001
-
-
8,000
-
-
400
7,000
58,839
32,080
-
11,249
80,000
5,000
1,400
595,197
1,655,221		 Resources
expended
£
(1,095,797)
(38,030)
(235,796)
(500)
(5,835)
(9,167)
(6,706)
(50)
(2,030)
(774)
(18,515)
(400)
(7,513)
(61,385)
(37,709)
(6,055)
(8,437)
(53,333)
-
(1,352)
(493,587)
(1,589,384)		 Movement
in funds
£
(35,773)
(5,428)
111,830
500
(5,835)
834
(6,706)
(50)
5,970
(774)
(18,515)
-
(513)
(2,546)
(5,629)
(6,055)
2,812
26,667
5,000
48
101,610
65,837

Purpose of Restricted Funds

Army Benevolent Fund

Armed Forces Covenant Fund Trust Leathersellers Queen Mary's Roehampton Trust Forces Support B&Q Neighbourly SH Capital Works Running costs funding

Albert Gubay Charitable Foundation

Veterans' Foundation

Lloyds Patriotic Fund Defence Medical Welfare Service

Welcome packs and heating for residents, and general running costs

Reducing Veterans' Homelessness and SCW post at Speke House Hollyacre House insulation Routine expenditure and relief work for war pensioners Avondale House furniture packs Upgrade of Speke House communal kitchen Replacement of Speke House carpeting Avondale House running costs Avondale House Projects post and Speke House Activities Co-ordinator post Towards core costs across all houses and LSW salary at Hollyacre House Avondale House re SCW post LSW salary at Avondale House

Page 36

AF&V LAUNCHPAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

20. EMPLOYEE BENEFIT OBLIGATIONS

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £23,804 (2024: £22,618).

21. RELATED PARTY DISCLOSURES

During the year £55,000 (2024: £80,000) was received in grants from the Veterans' Foundation. David Shaw was the CEO of AF & V Launchpad Limited until his resignation on 31 July 2024. He was also the CEO of The Veterans' Foundation.

Page 37

AF&V LAUNCHPAD LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

INCOME AND ENDOWMENTS
Donations and legacies
Gifts in kind
Donations
Grants
Investment income
Bank interest receivable
Charitable activities
Rent receivable
Service charges receivable
Sponsorship and fundraising events
Other income
Employment allowance
Insurance claim
Recharged expenses
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Rent
Rates and water
Insurance
Light and heat
Telephone
Advertising, promotion and website
Sundries
Repairs and maintenance
Professional fees
Carried forward		 Unrestricted
funds
£
6,004
180,553
229,950
416,507
25,436
479,920
545,544
42,164
1,067,628
10,500
1,960
260
-
12,720
1,522,291
551,427
75,219
20,264
71,000
-
5,387
83,402
7,800
32,833
6,816
38,227
-
892,375		 Restricted
funds
£
-
-
598,297
598,297
-
-
(6,886)
-
(6,886)
-
-
-
-
-
591,411
284,707
12,500
3,542
-
24,046
5,387
39,058
115
869
2,416
55,150
127,582
555,372		 30.6.25
Total
funds
£
6,004
180,553
828,247
1,014,804
25,436
479,920
538,658
42,164
1,060,742
10,500
1,960
260
-
12,720
2,113,702
836,134
87,719
23,806
71,000
24,046
10,774
122,460
7,915
33,702
9,232
93,377
127,582
1,447,747		 30.6.24
Total
funds
£
39,967
15,083
604,371
659,421
15,212
459,101
488,619
27,347
975,067
5,000
-
430
91
5,521
1,655,221
742,603
68,863
22,618
70,599
12,270
10,844
110,265
7,453
27,131
8,360
86,821
82,504
1,250,331

This page does not form part of the statutory financial statements

Page 38

AF&V LAUNCHPAD LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

Charitable activities
Brought forward
Other office costs
Travel & accommodation
Residents events & support and project costs
Fundraising costs
Bad debts
Cleaning
Staff Training
IT Software and Consumables
Motor expenses
Subscriptions
Household packs for residents
Furniture Pack Purchase
Furniture Rental
10th Anniversary costs
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
Bank loan interest
Support costs
Finance
Bank charges
Governance costs
Auditors' remuneration
Accountancy and legal fees
Total resources expended
Net income		 Unrestricted
funds
£
892,375
50
-
6,550
91,425
17,876
3,927
509
5,645
3,769
1,154
912
3,558
5,308
-
45,672
-
13,022
1,091,752
1,321
10,450
14,411
24,861
1,117,934
404,357		 Restricted
funds
£
555,372
12,703
9,510
29,681
-
-
-
6,309
129
12,180
-
10,162
11,080
-
-
-
-
-
647,126
-
-
5,526
5,526
652,652
(61,241)		 30.6.25
Total
funds
£
1,447,747
12,753
9,510
36,231
91,425
17,876
3,927
6,818
5,774
15,949
1,154
11,074
14,638
5,308
-
45,672
-
13,022
1,738,878
1,321
10,450
19,937
30,387
1,770,586
343,116		 30.6.24
Total
funds
£
1,250,331
12,078
5,899
51,189
95,358
12,295
4,476
15,178
4,888
7,704
1,037
20,582
9,274
6,056
4,042
45,098
3,033
13,364
1,561,882
639
10,500
16,363
26,863
1,589,384
65,837

This page does not form part of the statutory financial statements

Page 39