Ghpo
Launchpad
Social Enterprise
LAUNCHPAD SOCIAL ENTERPRISE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2021
Company Number: 9166520
Charity Number: 1162372

Contents
ANNUAL REPORT....................................................................................................................................
INDEPENDENT EXAMINER'S REPORT.....................................................................................................
STATEMENT OF FINANCIAL ACTIVITIES.................................................................................................
BALANCE SHEET......................................................................................................................................
NOTESTO THE FINANCIALSTATEMENTS..... .........................................................................................

LAUNCHPAD SOCIAL ENTERPRISE (formerly WINCHESTER SOCIAL ENTERPRISE)
Annual Report and Financial Statements for the year ended 31 December 2021
ANNUAL REPORT
The Trustees present their annual report, together with the financial statements, for the year ended
31 December 2021.
This combined report salisfies the legal requirements for..
a Directors Report of a charitable companv,
a Strategic Report under the Companies Act 2006 and
a Trustees Annual Report under the Charities Act 2011
Legal Oblè¢ts
The principal objects of the charitable company are..
To relieve povertyi to advance education, and to relieve need in individuals arising from their
vouth, age, infiimlty or disability, flnanclal hardship or social circumstances, by any charitable
means and in such places in the world as the Trustees from time to time decide..
The promotion of research into the moral and social welfare needs of the community and the
publication of the useful results of all such research.
The promotion for the benefit of the public of urban or rural regeneration In areas of soclal
and economlc deprivation by any tharitable mean5 as the Trustees from time to time decide
Such other excluslvely charitable means as the Trustees may from time to time determine.
The company was incorporated on 7 August 2014 and reglstered as a charlty on 24, June 2015. The
company commenced tradinglactivity in December 2017 as the Winchester Social Enterprise. This
name was legally changed to Launchpad Social Enterprise on 25, Nov 2021.
Given that one of LSE'S charitable objects is to advance educatlon, the dlrectors are confident
(having had regard to Charity Commission guidance) that the Charity delivers public benefit through
carrying out its airns and business strategies.
Strategi¢ Aims
In general terrns, the charity aims to support social transformation for the common good by runninE
some activitles of its own as well as helping local churches to run their own activities, by providing
training, and running a range of socially enterprising activities that will sustain the orEanisation in the
long term.
The LSE board has agreed a long-term strategy in whlch the primary focus Is currently on developing
the Charity's own long-term sustainability and doing this by setting up and running its own pre-school
and nursery settings.
Activities and Achievements in the year
The first three Launchpad pre-schools were opened in 2019, with the expectation that it would take
them three academic years to reach full scale. This is due to children in pre-schools largely being age5
2-5 and parents not usually chènging settings once they have found somewhere. This development

LAUNCHPAD SOCIAL ENTERPRISE Iformerly WINCHESTER SOCIAL ENTERPRISE)
Annual Report and Financial Statements for the year ended 31 Detèmber 2021
path wa5 interrupted to a significant degree in 2020 and then in 2021 by Covid which has meant that
It will take longer to reach full scale than originally envisaged but the settlngs are developing well.
Whlle Covid has presented huge challenges for staff and settings coping with the vlrus in staff, parents
and children, the impact on children's development and their mental health has continued to emerge.
Staff have worked hard to mitigate the effects and help children who have missed out on learning and
socialisation to catch up and continue their progress into their school year5.
In 2021, therefore, there were two area5 which needed focus, firstly recoveiy from covid and
consolidation, and secondly the need to scale up the early years business with at least one good si2ed
nvrsery to become completely self-sustaining.
The LSE board met 7 times during the year, all on 2oom/TearNs except for one meeting la5 required by
governing document). The board wa5 made aware confidentially of an opportunity to take over a set
of settlngs In Southampton in August and agreed to explore thi5 further. The last half of the year was
dominated by significant due diligence work assisted by professional advisers. While the substantive
preparation work was done in 2021, this did not result in an agreement to transfer until I" Feb 2022
after the year end. As this was a profitable private business with 9 settings, and 150 staff, it was a
significant declslon for the charity and reqLJired careful consideration and approval. Once completed,
thi5 should remove entirely the need for continued 5UPPOrt frorn the Winchester Diocesan Board of
Finance. The change of name to Launchpad Social Enterprise was done in order to rationalise the
company'5 branding and to facilitate the takeover process of another brand.
Finan¢ial Review
Launchpad Social Enterprise was supported in 2021 by the grant of £95,￿oI2020- £90,0001 received
from Winchester DBF'S Social Responsibility fund. Each Launchpad setting has introduced a new
income stream to LSE partly from direct local authority payments for the free 30 hours for 3-4 year
olds and some 2 year olds. and partly from parental fees forthose not qualifying or buying extra hour5.
For 2021 the total income was achieved for each of the three settings ¢ombined, £110,715 12020..
£146,758). Appleshaw and Soldre were operational for a full year duiing 2021, being established in
late 2019.
The results for the yearshow a surplus of £12,37812020.. deficit £2,312). Trading income has increased
by 19% over the prevlous year, but the company is still dependent upon the support from Winchester
Diocese Board of Finance to fully coverthe day to day operational costs from theirsocial Responsibilitv
Fund. As the settings continue to grow, they will cover more of these costs and the clear intention is
that it should cover all the costs as soon as possible.
Reserves policy
Unrestricted funds
As no restrictions were placed upon the grant received form the Winchester DBF all activities relate to
a single general unrestricted fund.
Structure. Governance and Management
Launchpad Social Enterprise is z company limited by guarantee, incorporated the 7th August 2014 and
operating under a Memorandum and Articles of Association altered pur5uaNt to Special Resolution on
the 5, September 2019. (Company no. 09166520: Charity no. 11623721. The board agreed to change
the name of the company from Winchester Social Enterprise to Launchpad Social Enterprise in
October 2021. The trustees, who served during the year are Set out on page 4. With the exceptlon of

LAUNCHPAD SOCIAL ENTERPRISE Iformerly WINCHESTER SOCIAL ENTERPRISE)
Annual Report and Financial Statements for the year ended 31 Decembèr 2021
two ex officio trustees, and the Winchester Diocesan Board of Finance as a corporate trustee, the
remainlng, majorlty of trustees, ale appointed by the current trustee bodv.
LSE staff
Canon Nick Ralph's role as Executive Director on a half time basis Ishared with Portsmouth CSRI
continues. Liz Mccarthy continued in her role as Operations Manager. There are also staff across the
three settings, including a manager, deputy manager, and practitionerlsl at each one. LSE is grateful to
many others who have given their time, support, and expertise to help move this work forward.
Covid Statement
Covid-19 continued to have a major impèct in 2021. Settlngs occasionally had to close for a day or two
when infections were particularly affecting staff or children, but there were no closures enforced by
government for long periods as happened In 2020. The government helpfully ensured that all early
years, settings received in grants, the income they would have expected to receive had Covid not taken
place and that continued until July 2021.
Future plan5
The LSE hoard identified the need to establish a further setting, preferably a nursery, to establish
enduring 5U5tainability and growth. In February 2022 the company entered into an agreement to
purchase IOO°A of the share capital of a local nursery group to expand its work in early years provision.
This purthase was partly funded by a loan from Winchester Diocese Board of Finance. The loan is
interest free and is repayable over 10 years.
Trustees, Responsibilities
The Trustees are responsible for preparing the Annual Report and the financial statements in
accordance with applicable law and regulations.
Company law require5 the Trustees las Directors) to prepare financial statements for each financial
year. Under that law the Trustees have elected to prepare the financial 5tatement5 in accordance with
United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and
applicable lawl. 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 the affairs of the LSE and of the
surplus or deficit of the LSE for that period.
In preparing these financial statements the Trustees are required to..
Select suitable accountlng pollcles and apply them conslstently
Observe methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prLJdent
State whether applicable accounting standards have been followed, subject to any
material departure5 disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it Is Inapproprlate to
assume that the company will continue in operation
The Trustees are also responsible for keeping proper accounting records that disc105e with reasonable
accuracy at any time the flnèncial position of the LSE and enable them to ensure that the financial
Statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the LSE and hence for taking reasonable steps for the prevention and detertion of fraud and
other irregularities.

LAUNCHPAD SOCIAL ENTERPRISE Iformerly WINCHESTER SOCIAL ENTERPRISEI
Annual Report and Financial Statements for the year ended 31 December 2021
The Trustees are responsible for the maintenance and integrity of the corporate and financlal
Information included in the LSE'S website. Legislation in England and Wales governing the preparation
and di55emillation of financial statements and other Information included in Annual Reports may
dlffer from legislation in other jurisdictions.
Administrative Details
None of the below listed Trustees, had any beneficial interest In the charity. The followlng are the
Trustees who served during the year and as at the date of this report:
The Right Reverend Timothy john Dakin (until 14 Oct 20211
The Right Reverend Deborah Sellin (from IS Oct 20211
Mrs Victoria Louise James
Canon Andrew Robinson (until 31 Oct 20211
Colin Harbidge (from 15 Nov 20211
Ms Gambol Beverley Parker
Mrs Jane Annabelle Boyes
Mrs Jane Elizabeth Dyke
The Reverend Andrew Mark Micklefield
Wlnche5ter Diocesan Board of Finance IWDBFI (corporate trustee)
Company Secretary.. The Reverend Canon Nicholas Ralph Inon-trusteel
Registered Office.. Dlocesan Office, Old Alresford Place, Old Alresford, Hampshire S024 9DH
WDBF Trustees as at the date of this report are set out below:
MrAI L Barron
Mrs E Clift
Mrs A Coulter
The Rieht Reverend Dr T Dakin Iretired 27 Sep 20211
The Reverend Canon R Harlow (retired 31 Dec 20211
The Reverend A Micklefield
Mrl Newman
The Reverend Canon C Stewart Iretired 31 Jan 20211
Mr M Ward (retired 31 Dec 20211
For the year ended 31 December 2021 the company was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies. The memhers have not required
the company to obtain an audit of its financial staten)ents for the year in question in accordance with
section 476. The directors acknowledge their responsibilities for complying with the requirements of
the Corllpanie5 Act 2006 with respect to accounting records and the preparation of financial
statements.
Thls report has been prepared in accordance with the small companies, regime.
tE)eknr
The Rl Revd Deborah Sellln
Chairman
Dated.. 11.7.11

LAUNCHPAD SOCIAL ENTEFIPRISE Iformerly WINCHESTER SOCIAL ENTERPRISE)
Independent Examiner's Report for the year ended 31 Decembèr 2021
INDEPENDENT EXAMINER'S REPORT
I report on the accounts of the company for the year ended 31 December 2021 which are Set out on
pages 6 to 11.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company lawl are
responsible for the preparation of the accounts. The trustees consider that an audit is not required
for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent
examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for
independent examination, it is my responsibility to:
exarlline the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity Commission
under section 14515llbl of the 2011 Act.. and
state whether particular matters have come to my attention.
Basls of independent examiner's report
My exarllination was carried out in accordance with the general Directions given by the Charity
Commission. An examination includes a review of the accounting record5 kept by the tharity and a
comparison of the accoLJnts presented with those records. It also includes consideration of any
unusual iterns or disc105ure5 in the accoLJnts and seeking explanations from you as trustees concerning
any Such matters. The procedures undertaken do not provide all the evidence that would be required
in an audit and consequently no opinion is given as to whether the accounts present a "true and fair
view" and the report is limited to th05e matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that, In any material respect, the requirements-
to keep accounting records in accordance with section 386 of the Companies Act 2006,.
and
to prepare accounts which accord with the accounting records, comply with the
accounting requirements of the Companies Act 2006 and which are consistent with the
methods and principles of the Statement of Recommended Practice.. Accounting and
Reporting by Charities have not been met,. or
to which, in my opinion, attention should be drawn to enable a proper understanding of the
accounts to be reached.
Tom Brain FCA
Haysmacintyre LLP
10 Queen Street Place,
London EC4R IAG
Dated.. 2910712022

LAUNCHPAD SOCIAL ENTERPRISE (formerly WINCHESTER SOCIAL ENTERPRISE)
Statement of Financial Activitles for the year ended 31 December 2021
STATEMENT OF FINANCIAL ACTIVITIES
Note
2021
2020
Income
Voluntary Donations
Grant from Winchester DBF
Other Grant
Furlough
95,(XK)
95,082
755
90,(KKI
10,183
6,350
Charitable activities
110,715
146,758
Total Income
301,552
253,291
Expenditure
Support costs
Depreciation
68,299
11,979
57,598
Charitable activities
208,896
198,005
Total Expenditure
289,174
255,603
Net movement in funds
Balance blf 0110112021
Balance c/f 3111212021
12,378
23,367
35,745
-2,312
25,679
23,367

LAUNCHPAD SOCIAL ENTERPRISE (formerly WINCHESTER SOCIAL ENTERPRISE)
Balance Sheet as at 310ecember 2021
BALANCE SHEET
Company No.. 9166520
Note
2021
2020
Fixed Assets
Property, plant and equipment
134,197
138,245
Current Assets
Debtors and Prepayments
Cash at Bank
30,671
7,250
19,328
37,921
20,328
Credltors-amounts falling due withln one year
Loans payable
Accrued Expenses
other Creditors
12,000
10,651
35,722
16,583
28,623
58,373
51,206
Net Current Assets
113,745
107,367
Creditors.. falllng due after more than one year
78,0(X)
84,0(X)
Net Assets
35,74S
23.367
ReseNes
Unrestricted Fund
35,745
23,367
For the year endinE 31" December 2021 the company was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies. The members have not required
the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act wlth
respect to accounting records and the preparation of accounts.
These accounts have been prepared In accordance with the provlslons applicable to comparbie5
subject to the small companies, regime.
The Rt Revd Deborah Sellin
Chairman
Dated: 11 . l. 11

LAUNCHPAD SOCIAL ENTERPRISE (formerly WINCHESTER SOCIAL ENTERPRISE)
Notes to the Financial Statements for the year ended 31 December 2021
NOTES TO THE FINANCIAL STATEMENTS
I. ACCOUNTING POLICIE5
Legal status of the charlty
Launchpad Social Enterprise is a company limited by guarantee, regSstered in England and Wales.
Launchpad Social Enterprise Is a public beneflt entity as defined by FRS102
Basis of prèparing the financlal statements
The financial statements have been prepared under the historical cost conventions. The flnancial
statements have been prepared in accordance with the Statement of Recommended Practice for
Charities SORP IFRS 1021 {Second edition, effective 1 January 20191, the Companies Act 2006 and
FR5102 Section IA.
Assets and liabilities are inltSally recognised at historical cost or transaction value unless otherwlse
stated in the relevant accounting policy notels). The financSal statements are prepared in sterling which
15 the functional currency of the charity.
Going concern
The Trustees have a reasonable expectation that the charity has adequate resources to meet its
liabilities as they fall due for the foreseeable future. The Trustees consider that there are no material
uncertainties that may cast doubt on the charity's ability to continve a5 a going concern and they
therefore continue to prepare the financial statements on the going concern basis.
The charity is supported by the Corporate Social Responsibility funding from the Winchester Diocesan
Board of Finance. The WD6F restricted fund ha5 sufficient reserves to support the continued
operations of the charity and has been designated for that purpose.
Income
All income is recognised when the charity has entStlement to the funds, any performance conditions
attached to the itemlsl of income have been met and it is probably that the income will be received
and the amount can be reliat)ly measured.
Income from nurseryfees are included in the Statement of Flnancial Activitie5 ISOFAI when the charity
becomes entitled to the fees ènd any condition5 for receipt are met.
Income from government and other grants, whether'capital, grants or 'revenue' grants, Is recognised
when the charity has entitlement to the fund5, any performance conditions attached to the grants
have been met, It is probably that the income will be received and the amount can be measured
reliably. Grants are accounted for on a receivable basis.
Furlough grant income is recognised in the same period as the staff costs to which it relates.

LAUNCHPAD SOCIAL ENTERPRISE Iformerly WINCHESTER SOCIAL ENTERPRISE)
Notes to the Financial Statements for the year ended 31 December 2021
Expènditure
Expenditure is recognlsed once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required, and the amount of the obligation can be
measured reliably. All expenditure is accounted for on the accruals basis and the trading costs have
been classified under headings that relate to the categories of trading income.
Charitable expenditure relates to the costs incurred in 5UPPOrt of the day to day operations of each
nursery Setting.
Support costs are overhead costs necessarily incurred in the running of the tharity.
Tangible fixed asset5
Fixed assets are capitalised at cost, where acquired or managements approximation valuation of cost
where donated.
Depreciation 15 provided to write off the cost, less an estimated residual value, OY all flxed assets evenlv
over their expected economic useful lives on a reducing balance ba55$ as follows..
Property- Yurt- 15 year5 Straight line
Fixture5 and fittings- 20% reducing balance
The need for any impairment of a fixed asset write-down is considered If there Is concern over the
carrying value of an asset and is assessed by comparing that carrying value against the value in use or
realisable value of the asset when appropriate.
Unrestrlcted funds
As no restrictions were placed upon the grant received from Winchester DBF, all activities relate to
single general fund.
2. STAFF COSTS
All staff are employed by Launchpad Social Enterprise, except for Nick Ralph, whose stipend charEe is
recharged via Portsmouth Diocese Board of Finance.
2021
2020
W3ges ands81aries
National i nsurance contributions
Pension costs
169.441
6.446
12.825
188 711
178.650
4,207
195 925
At the end of 2021 there were an average of 12 employees12020'. 101, working a mixture of part
time and full-time term hours.
The trustees were not paid or relmbursed for expenses during the year12020.' £nill.
No employee earned more than £60,000 per annum12020'. £nill

LAUNCHPAD SOCIAL ENTERPRISE Iformerly WINCHESTER SOCIAL ENTERPRISE)
Notes to the Financial Statements for the year ended 31 December 2021
Remuneratlon of Key Management Personnel
Key management personnel are deemed to be those having authority and responsibility delegated
to them by the trustees, for planning, dlrecting and Controlling the activities of the organisation.
During 2021 this was..
Executive Director- The Revd Canon Nick Ralph150%1
Remuneration, penslons, and expense5 amounted to £30,28312020- £33,365)
SUPPORT COST ANALYSIS
2021
2020
Office support costs
Salaries, HR & recruitment loverheadl
Subscriptions & publications
Independent examination
10,361
54,297
1,272
2,369
15,027
39.594
985
1,992
68,299
57,598
TANG18LE FIXED ASSETS
Property In
Freehold Land
coutse of
& Buildings construction
Fixture &
Fittings
2021 Total
Valuation a5 at..
l January 2021
Additions
31 December 2021
121,152
7,931
129,083
17,093
138,245
7,931
146,176
17,093
Depreciation
At ljanuary 2021
Disposals
Charge for the year
At 31 December2021
8,561
8,561
3,419
3,419
11,979
11,979
Net Book Value
At 31December2021
120,522
121,152
13,674
17,093
134,197
138,245
At 31 December2020
io

LAUNCHPAD SOCIAL ENTERPRISE Iformerly WINCHESTER SOCIAL ENTERPRISE
Notes to the Financial Statements for the year ended 31 December 2021
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021
2020
Loans Payable
78,000
84,(KlO
Winchester Diocese Board of Flnance gave the Charity a loan of £90,000 for the yurt asset addition
constructed during 2020. It has been loaned at OYO interest with a repayment term of 15 years or
earlier.
posr BALANCE SHEET EVENTS
In February 2022 the company entered into an agreement to purchase 100% of the share capital of a
local nursery group to expand its work in early years provision. This purchase was partly funded by
loan of £625,000 from Winchester Diocese Board of Finance. The loan is interest free and is
repayable over 10 years.
RELATED PARTY TRANSACTIONS
During 2021 a grant of £95.00012020'. £90,000) was received from Wlnchester DBF.
The company received a loan from Winchester DBF during 2020. At the year end, the balance owlng
on this loan was £90,00012020.. £90,000).
None of the trustees received any remuneration from the charity.
None of the trustees received any reimbursement of expenses from the charitv
li