launchP
Social Enterprise
Intorporating
Paint Pots
nurseries ond pre-schools
LAUNCHPAD SOCIAL ENTERPRISE
(A Company Limited by Guarantee)
ANNUAL REPORT AND CONSOLIDATED FINANCIAL
STATEMENTS
FOR THE YEAR ENDED
31 August 2025
Compary Numbpr. 9166520
Charlty Number: 11623n

Contents
TRUSTEES. REPORT
INDEPENDENT AUDITOIVS REPORT
CONSOLIDATED STATEMENT OF FINANCIAL AcllviTY
li
CON50UOATED BAiANCE SHEET
12
BALANCE SHEET
13
CONSOUDATED CASH FLOW STATEMENT
14
NOTES TO THE FINANCIAL STATEMENTS
15

LAUNCHPAD SOCIAL ENTERPRISE
Annual Report and Financial Statements forthe year ended 31 Awst 2025
TRUSTEE REPORT
The Trustees pr*5ent their report. together with the financial statement5, for the year ended 31
August 2025.
This combined report satisfies the le8al tsquirements for:
a Directorf Report of z charitsble comparry: and
a Trustees Annual Report underthe Charities Art 2011.
Legal Oblects
The principal objects of the charitable company are-.
To relieve poverty, to advance educatTron. and to relieve need in Individuals arising from their
youth, a8e, infirmity or disability, financial hardship or social circumstances. by anycharitable
mean5 and in such places in the world as the Trustees from time to time decide..
The promotion of research into the moral and 51Kial welfare needs ofthe community and the
publication of the useful results of all such research.
The promotion for the benefit of the publlc of urban or rural regeneration In areas of social
and etonomic deprivation by any charitable means as the Twsteès from time to time decide
Such other exclusivety tharitable means as the TrU￿ee5 may from time to tome determine.
The company was incorporated on 07 August 2014 and regirtered as a charity on 24 June 2015. The
company cornmenced tradinglartivity in December 2017 a5 the Winchester Social Enterprise. This
name was legal￿ changed to Launchpad Social Enterprise I"LSE"l on 25 November 2021.
Given that one of LSE'S charitable obierts is to advance education, the directors are confident Ihavln
had regard to Charity Commi55ion guidantel that the Charity delivers public benefit through carrying
out its aims and business strdtegies.
Stratèglc Alms
The charity was set up with the aim of supporting social tTrnsformation for the common good bv
running some artwities of its own as well as helping bcal churches to run their own attivitFes, by
providing training. and rtjnning a range of socially enterprising actNitie5 of its own that will sustaln the
organisation in the long term.
The Initial focu5 was on developing directly rune nurseries and p￿-SChOOlS whith link well wlth the
work already bein8 done in education in other parts of the Diotese and Church of England. This work
developed between 2015 and 2025 tothe point where it was being delivered through è wholly owned
subsidiaiy company- Paint Pots Pre-school & Nursery Limited. Wtth the complete support of the LSE
board, application w35 made to turn this Company into a charity and the Charity Commission granted
thi5 on 16 October 2024. Paint Pots was unusualty allowed by the Charity Commission to remaln
company a Ilmited by shares and these shales are all owned by LSE.

LAUNCHPAD soaAL ENTERPRISE
Annual Report and Finandal Statements forthe yearended 31 A￿ust 2025
There has, therefore. been è major thange in rDle for LSE in the year with Paint Pots n¢)w becomin8 a
separate Charity. It still makes its annual ￿POrtS to LSE and LSE appoints its director5. but LSE has no
dirèct say in how it is run.
This year, this has meant that LSE has become mainly a holding compaw. Various loan5 are still being
paid off, and it Is now available for other soaally enterprising activits.es for the Oiocese of Winchester
where appropriate risks neeil to be managed separdtely. The Wofk of the charity continues to be
supported by The Revd Canon Nick Ralph and trainin8 in gxial enterprise, community development
and the use of data, contSnues to be delfvered to turdtes in training across the diocese.
Strategic Risks and Uncertalntles
The Directors are responsible forthe identrficatbon, mrtigation and management of risk. To achieve
thi5. a register of the risks was identifieil and maintained which was subject to review by the
Directors but many of these risk5 have been handed over to the Paint Pots board. With no particular
work currentty going on in LSE, the risks are largely in relation to governance and trusteeship. Work
has beèn undertaken also to manage any potentlal conflltts of Interest between elther LSE and
WDBF or LSE and Paint Pots.
AcdvltSes and Achle¥ements in the year
No direct work has been undertaken by LSE this year otherthan training for curate5.
Fundralslng sta￿lent
The char6ty does not undertake any fonnal or organised fundraising activrties. either direct￿ or
through a professional fundraiser or commercial participator or any person acting tsn it5 behalf. The
charity does not engage in cold callin& dOor-to4￿T0rstTeet fundraising. Therefore, it does not target
any vulnerable people.
FlnaKlal Re¥lew
In 2025. Paint Pots donated £576,66212024: £121,889) via Gift to the parent charity LSE, thereby
reducin8 its liabilityfortorporat40n tax.
Total income for the year amounted to £5,629,44212024.. £4,936,285) and total expendlture for the
vear arnounted to £5,250,07912024: £4.560.8301.
The Consolidated Statement of Financial Activities shows a surplu5 for the year of £379,36312024-
£375.4551. Trading intorne has increased over the p￿ou$ year.
The total income of the Charity for the period was £576.66212024.. £121.8891 and the net result of
the Charity was a surplus of £483.32412024= defficit £5,8881.
At the year end, the Group holds fund5 of £1.126.78912024.. £747,426) and the Charity holds total
funds of £717.51312024.. £234.1891. All funds are unrestricted.

LAUNCHPAD SOCIAI ENTERPRISE
Annual Report and Flnandal Statements forihe year ended 31 Aiyst 2025
Reserves pollry
UnrestrSrted funds:
All of the charitV'5 reserves are unrestricted. meanin8 that they are freely avallable to spend on any of
the charity's purposes.
The Charity does not currently have a fonnal reserves policy in placÈ but is working towards this wtth
the aim of holding free reserve5 equivalent of three months expenditure. taking into consideration
flnancial risk. liquidity requirement and the timing of cashflows. At 31 August 2025. the balance of free
reseNes forthe Group was £660,89912024.. £376,184). At 31 Au8USt2025, the balance offree reserves
for the Charity was £622.34112024.. £128,949).
This balance represents approximate￿ one and a half months of budgeted expenses for the charity
and its subsidiary undertaking.
Structure. Governance and Management
iaunchpad Social Ernterprise is a company limrted by guarantee, incorporated the 07 August 2014 and
operating under a Memorandum and Articles of Association altered pursuant to Special Res01￿10n on
the 05 september 2019. Icompany no. 09166520,. Charity no. 11623721. The trustees, who served
during the period are set out on page S. Except for two ex officio trustees, and the Winchester
Di0￿53n Board of Finan￿35 a corporate tfustee. the remaining majority of trustees, are independent
and apkN)inted by the current trustee body.
Declslon making stwrture
Section 172 of the Companies Act requtres trustees to art in a way they consider. in good faith, would
be most likely to promote the success of the charrty to achTreve its charitable purposes. In doing 50 the
Board of Trustees delegate5 day to-day management and decision-making to the Executive Director,
who is required to art in furtherance of the Charitvs strategy and to ensurethat the Charitls activities
are carried out in compliance with agreed plans and policies. The trustees re￿•ve update5 on the
CharitVs performance and plans at each Board meetin8.
Trustee recrultment, selertion and Snduction
Trustees are seletted on the basis of skills. knowledge and networks. They are given induction and
provided with training as appropriate. All Trustees a￿ required maintain their entry in the record of
declarations of interest.
LSE staff
The Revd Canon Nick Ralph's rok as ExecutNe Director for LSE and Paint Pots 15 on a half time basis
(shared with Portsmouth DBFI continues. Fmm January 2025, the costs were shared between
Portsmouth DBF and Paint Pot5. LSE has no other stsff. The LSE Board are grateful to all those who
have elven theirtime. support. and Èxpertise tt> 5UPPOrt the charity.
Remuneratlon PolKy
The Board operate5 a set salary scale. and employees are placed on thi5 and benchmarked where
P055ible against comparable roles in other similar o￿aniSatiOns. The salaryscale is revlewed each year
by the Board with reference to cost-of-livin& movements in stsff and national minimum wage.
Related Partles
LSE has received some 103n5 in the past from Winchester Oioce5an Board of Finance IWOBFI. The
balances on these loans received by LSE from WDBF and the repayment period are set out in note 9.
The Charity acquired 100% of the share capital of Paint Pots Pr&School & Nursery Ltd in 2022. The

LAUNCHPAD SOCIAL ENTERPRISE
Annual Report and Flnandal Statemtnts forthe ye¥ ended 31 Aw15t 2025
Charity received a donation from tts subsidiary company during the year in the form of a distribution
of profits under the gift aid awangement.
Future plans
LSE continves to pay off loans to WDBF and stands ready to support new socialfy enterprising actNity
in parishes or di0￿$e.
Trustee5' Responsibilities
The Trustees are responsible for preparing the Annual Report and the financial statements in
accordance with applicable law and rezulations.
Company law requires the Trustees las Directors) to prepare financial ststements for each financial
year. Under that law the Trustees have elected to prepare thefinancial statements in accordancewith
United Kingdom Generally Accepted Accountirt8 Practice (United Kingdom Aicounting 5tandard5 and
applicable lawl. Under company law the Trustees must not approve the financial statements unless
they are satislied that they give a true and fair View of the state of the affalrs of the LSE and of the
surplus or deficit of the LSE for that period.
In preparing these finandal ststements the Tru5tee5 are required to:
Select suitable accounting policies and appty them consistentlv
Observe methods and principles in the Charities SORP
Make judgernents and estimates that are reasonable and Pfudefit
State whether applicable attounting Standards have been followed, subject to any
rnaterial departures disclosed and explained in the financial statements
Prepare the financial statement5 on the 8oin8 concem basis unless It Is inappropriate to
assume that the tompany will contin4be in operation
TheTrustees are also Tesp)nsible for keeping proper accounting records that disclosewtth reasonable
accuracy at any time the financial position of the LSE and enable them to ensure that the financial
statements comply with the Companies Act 2(KJ6. They are also responsible for safeguarding the
asset5 of the LSE and hen￿ for taking reasonable steps forthe prevention and detertion of fraud and
other irregulariiiÈs.
The Trustees are responsible for the maintenance and integrity of the corporate and financial
information included in the LSE'S web5tte. Legislation in England and Wales governing the preparation
and dissemination of financial statements and other infomiation included in Annual Reports may
differ from legislation in othÈr jurisdictions.

LAUNCHPAD 500AL EKfERPRISE
Annual Report and Financial Statements for the yearended 31 August 2025
Admln15tratlve Detalls
None of the below listed Trustees had any beneficial interest in the charity. The followin8 are the
Trustees who served dvring the period and as at the date of this report..
The Right Reverend Philip Mounstephen
Colin Harbidge
M5 Gambol Beverley Parker Iresigned 22 January 20251
Mrs lane Elizabeth Ltyke
The Reverend Dr Philip Lewis Krinks
Mark Ward (resigned 22 January 20251
Thom35 Ward (appointed 24 September 20241
The Reverend Theresa ParkEr (appointed 22 January 20251
Winchester Diocesan Board of Finènce IWDBFI (corporate tnjsteel
Compalry Secretary:
The Reverend Canon Nicholas Ralph Inofvtrusteèl
Règistéred Offi￿.
Paint Pots House. I Spring CreS￿n[ Southampton S017 2FZ
8ankers:
National Westmlnster Bank PLC, 105 High Street, Winchester. 5023 9AW
Solititors..
Blake Morgan LLP. New Kings Court, Tollgate. Chandler5 Ford, S053 3LG
Trethowans LLP. The Pavilion, Botlei8h Grnnge Business Park, Hedge End,
Southampton S030 2AF
Auditor:
Haysmac LLP, 10 Queen Street Place, London EC4R LIG
The trustees of WDBF. thè corpowats trustee. at the date of this Trport are set out below:
MrA J L Barron
The Reverend A Micklefield
Mrs G Xnight
The Ven R 8rand
Mrs E Mackeggie Gurney
Mr l Dighé
Mr5 M Hedley
The Ven J Burgess
The Right Revd P Mounstephen
Dr R M Roope
Mr D R S Collier
The Reverend A Smith
The Reverend S E Yetman
Mr5 K A Betteridge
The Right Revd R Kin8

LAUNCHPAD SOCIAL EpifERPRISE
Annual Report and Flnantial statements for the yearended 31 August ZOZ5
ProvlsSon of Informatlon to auditors
In so fara5 the directors a￿ aware..
There is no relevant audit infomiation of which the charitsble company's auditor is unaware..
and
The diTector5 have taken all steps thatthey ought to have taken to make themsefves aware of
any relevant audit information and to establish that the auditor 15 aware of that information.
The dirertors acknowle(*e their responsibilities for cornp￿ng with the requirements of the
Cornpanies Act 2Crf)6 with respect to accounting records and the preparation of financial statements.
This report has been prepared in accordance with the small companies. rè8imè.
ight'Aevd Philip Mounstephen
airman
Dated..

LAUNCHPAD SOCIAL ENTERPRISE
Annual Report and Finandal Ststements forthe yearended ai Awst 2025
Independent audltorfs reportto the members of i•unchpad Social Enterprlse
Oplnlon
We have audtted thefinanaal ststements of Launchpad Social Enterprise fortheyear ended 31August
2025 which comprise the Consolidated Statement of Finantial ActNities. Consolidated and Charr(y
Balance Sheets. Con501idated Statementof Cash Flows and notesto the financial staternents, including
a summary of significant accounting policies. The financial reporting frameworkthat has been applied
in their preparation is applicable law and United Kingdom Accountine Standards. including Financial
Reporting St3nd3rd 102 The FinonciolReporting Stondordupplicoble in the UKondRepublic ollreltsnd
Iunited Kingdom GenerallyAccepted Accounting Practice).
In our opinion. the financial statements=
give a true and f3ir¥iew of the state of the group's and of the parent charitable cornpèn¢s affairs
as at 31 August 2025 and of the group's and parent charrtable companvs net movement in funds,
Induding the income and expendrture, for the year then ended..
have been proper￿ prepared in accordancèwbth United Kin8dom GenerallyAccepted Accounting
Practice.- and
have been prepared in accordan￿ with the requirements of the Companies Art 2fM)6.
Basb for oplnlon
We conducted our audit in accordance with Intemational Standard5 on Auditing IUKI IISAS IUKII and
appllcable law. Our responsibilities under those standards are further described in the Auditorfs
respon5ibilitie5 forthe audit of the financial statements section of our report. We are independent of
the group in accordance wilh the ethical requirements that are relevant to our audit of the financial
statements in the UK. including the FRCS Ethical Standard. and we have fulfilled our other ethical
respon5ibilitie5 in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a ba%s for ouropinion.
Conclusions relatinB to 8oln8 contern
In auditing the financial statements, we have concluded that the trustee< use of the going concern
basi5 of accounting in the prepzration of the financial statements is appropriate.
Based on the work we hève perforn)ed, we have not identified any material uncertaintie5 relating to
events or conditions that. individually or collective￿. may c35t Significant doubt on the group'5 ability
to tontinue a5 3 going concem for a period of at least twefve months from when the flnantÉal
statements are authorised for issue.
Our responsibilities and the responsibilities of thetrustees with respectto goingconcern a￿ described
in the relevant seaions of thts ￿pOrt.
Other Inforniatton
The tiit5tees are responsible for the other infonnation. The other information comprises the
information included In theTrustee5' Annual Report. Our opinion on the financial statements does not
cover the other information and, except tothe extent otherwise explicitly stated in our report, we do
not express any lomi of assurante conclusion thereon.

LAUNCHPAD SOCIAL ENTERPRISE
Annual Report and Finanual Strtementsforthe yearended 31 Awst 2025
In connection with our audit ol the finanaal statements, our responsibility 15 to read the other
information and, in doing so, consider whether the other information is materially inwnsi5tent with
the financial statements, orour knowledge obtained inthe audit orotherwise appearsto be materially
misstated. If we identifv such material ineonsistencie5 or apparent material misstatements, we are
requlred to determine whether there is a material misstatement in the financial staternents or a
material mi55tatement of the other information. If. based on the work we have performed, we
conclude that there is a material misstatement of this other infom)ation, we are required to report
that faci. We have nothing to report in this regard.
Opinion5 on other matters prescrlbed bythe Companies Acl 2(X)6
In our ownion. based on the work undertaken in the course of the audit-
the information given in the Trustees. Annual Report Iwhich includes the strate8¥c report and the
directors. report prepared for the purposes of company lawl for the financial year for which the
financial statements are prepared is consislent with the financial 5tatements', and
the strategtc report and the dirertors. report included within the Trustees, Annual Report have
been prepared in accordante with applicable legal requirements.
Matters on whlch we are requlred to report by *xtÈption
In the light of the knowledge and understsnding of the group and the parent charitable company and
its environment obtained in the course of the audit, we have not identified material misstatements in
the Trustees, Annual RekN)rt (which incorporate5 the strategic report and the directors, report).
We have nothin6 to report in respect of the following matters in relztion to whith the Companies Act
2006 requires us to report to you if. in our opinion..
adequate accounting record5 have not been kept by the parent charitable company,. or
the parent charitable company financial ststements are noi in agreement wSth the accounting
records and ￿tum5- or
certain disclosures of trustees. remvneration speciffied by law are not made.. or
we have not received all the information and explanations we require for our audit- or
the trustees were not entitled to prepare the financial statements in accordan￿ wlth the small
companies. regime and take a(fvantage of the small cornpanies, exemptions in preparing the
trustees, report and from the requirement to prepare a strategic report.
Responslbllltles of trustèes for the financlal statements
As explained more fully in the trustee5' responsibilities Statement setout on page 4. thetrustees (who
are also the directors of the charitable cornpanyforthe purposes of company lawl are responsible for
the preparation of the financial statements and for being satisfied that give a true and fair view.
and for such internal control a5 the trustees determine is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud orerfor.
In preparin£ the financial statements. the trustees are responsible for a$5essing the group's and the
parent charitable companvs ability to continue as a going toncern. disclosin& as applicable, matters
re13ted to 8oing concern and using the going concern basis of accountin8 unless the trustees either
intend io liquidate the group or the parent charttable company or to cease operations. or have no
realistic a￿ernative but to do 50.

LAUNCHPAD SOOAL ENTERPRISE
Annual Report and Hnantial Statementslor the ￿rended 31 August 2025
Audltorfs responsibilities lor a￿lIt ol the finandal statements
Our objectives are to obtain reasonable assurance about whetherthe financial ststements as a whole
are free from material misstatement. whether (fue to fraud or error. znd to t5sue an auditorfs report
that includes our opinion. Reasonable assurante is 3 hi8h level of assurance but is not a guarantee
that arn audit conducted in actordancewtth ISAS IUKI will always detect a material mi5Statementwhen
it exists. Misstatements can arise from fraud or error and are considered material if. individually or in
the agg￿gate. they could reasonably be eypected 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 regulatlons. We desi8n
procedures in line with our responsibilities, outlined above, to deteet material misstatements in
respect of irregularities. induding fraud. The extent to which Dur procedures are capable of detecting
irregularities. including fraud is detailed below..
Based on our understanding of the group and the environment In whlch tt operates, we identified that
the principal risks of non-complian￿ with laws and regulations related to safeguardin& health and
safety and employment (including taxation), and we considered the extent to which non-compliance
might have a material effect on the financial statefflent5. We also considered those laws and
regulations that have a direct impact on the preparation of the financial Statements such 85 the
Companies Act 2006 and the Charities Act 2011.
We evaluated managemenV5 incentivesand opportunitles forfraudulent manipulation of the financial
ststements lincluding the risk of override of controlsl and determined that the principal risks were
Telateil to income reCognit￿n. Audit procedures perfomied by the engagement team intluded..
Inspecting correspondente wtth regulators and tax authorities..
Discussions with management including considerdtion of known or susperted instances of non-
compliance with laws and regulation and fraud,.
Evaluating managemenvs controls designed to prevent and detect ifTegularities;
Identifying and testing Joumals; and
Challenging a$5umptions and judgements made by management in their accountlng estimates.
Because of the inherènt limitations of an audit, there is a risk that we wlll not detect all irregularitie5,
ncludin8 those leadingio a material misstatement in the financial statement5 or non-compliance with
regulatlon. Thi5 risk 1￿c￿ase$ 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 awarè
of instances of non-compliance. The risk i5 also 8reater re8arding irregularities occurring due to fraud
rather than error. as fraud invofves intentional concealment. forgery. collusion, omi5slon or
mlsrepresentation.
A further description of our responsibilities for the audwt of the financial statements is located on the
Financial Reporting Council's website at.. www.frc.or
auditorsres
nsibilities. This description
forrns part of our audr(orfs report.

LAUNCHPAD SOCIAL ENTERPRISE
Annual Report and Flnandal Ststements forthe yeaf ended 31 Awst 2025
Use of our report
This report is made solelyto the charitable company's member5, a5 a body, in accordance with Chapter
3 of Part 16 of the Companies Aci 2LX)6. Our audit work has been undertaken $0 that we might state
to the charitable company's members those fflatters we are required to state to them in an Auditor's
report and for no other purpose. To the fvllest extent perniitted by law, we do not accept or assume
re5ponsibiltty to anyone other than the charitable company and the Charitable company's members,
as a boo*, for our audit work, for this report. or for the opinions we have formed.
Jane Askew (Senior Statutory Auditor)
For and on behalf of Haysmac LLP. Statutory Auditor
Date..
51312026
10 Queen Street Place
London
EC4R IAG
io

LAUNCHPAD soaAL ENfERPRISE
Company Number 9166520
Annual Report and Finandal Statements for thè yearended 31 August 2025
CONSOLIDATED STATEMENT OF FINANCIAL AcrivrriES
Note
Intome:
Donations
Charitable artlvities
Othertrading activities
Investrnent income
5.591623
11,329
10,4
4,929.0%
4,2
Total Income
4.94285
Expènditure:
Contribution to staff costs
Charitable activities
Othertrading adivities
Taxation charge
5.214.tAB
40,49)
119,11241
4.519.927
ILI￿3
Total Expenditure
s2￿078
45￿.830
Net mo¥ementol funds fortheyezr
379.364
375,455
Fund balances at 01 September2024
747,426
371.971
Fund balaTh￿s at 31Aul￿t 2025
L126,nl
747.426
All Income and gains for the year are recognised on the statement of financial activities. All of the
charivs attivities are clas5ffied as continuin8. The reyjlts for the year include those of the subsidiary
undertaking for the year to 31 August 2025.
li

LAUNCHPAD SOCIAL EP4TERPRISE
Company Number 9166520
Annual Report and F5nandal Statements forthè year tnded 31 Awst 2025
CON50LIDATED BALANCE SHEEr
Intandble Assets
374.034
425,533
Tanglble A55ets
Property. plant and equipment
465,
386,230
Current Assets
Debtors and Prepayments
Cash at Bank
46.7C#J
694.277
740.977
LLK3,417
L127.8
Creditors-wnountsfallinKduewlthln one Jtar
415.201
2n.407
Net Curnent Assets
L55I583
1,281,333
Credltots.. falllngdue afternxKe than one year
425,793
S33,￿7
Net Assets
6.
747,426
Reseryes
un￿StrIlted Funds
L126,VX)
747.426
747.426
The notes on pages IS to 23 form part of these financial Statements. The financial statements were
approved by the Board of Trustees and authoiised for issue and signed on behalf of the Board by..
t Revil Philip Mounstephen
Chairman
Dated..

LAUNCHPAD SOCIAL ENTERPRISE
Company Number 9166520
Annual Report and Flnandal Statements for the Year*nd￿ 31 Auiiist 2025
BALANCE SHEET
Flxed Assets
Property, plant and equipment
95.171
105.239
Investments
Investment in Subsldiary
L424,4C6
L424,4
CuT￿nIA$Sets
Debtors and Prepayments
Cash at Bank
420
14.782
15.202
4L376
4L376
Credltor5-amountsfallingdue wlthln one year
8L283
114.CQl
Net CurrentAsMts
1.479.670
1,430.846
dltoys: fallinidue after moyethan one year
761157
1.1%,657
NetAssets
n7,S13
Reserve5
un￿StriCted Fund
717,513
n7.$13
The net income for the charitable company for the year to 31 Au8u5t 2025 was £483J2412024'. net
expenditure £5,8881.
The notes on pages 15 to 23 form part of these financial statements. The financial statements were
approved by the Board of Trustees and authorised for issue and signed on behalf of the Board by:
The
Chairman
evd Philip Mour15tephen
Dated:
13

LAUNCHPAD SOCIAL ENTERPRISE
Company Number 9166520
Annual Report and Flnandal Ststements forthe year ended 31 2025
CONSOLIDATED CASH FLOW STATEMEHr
Net cash provlded byoperatlnK artlvltles
653,168
47L050
Cash flowslrom In¥e#lng acbvities:
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Net cash (used In) Imiestlng activltles
213,459
215.339
185.425
1185.4251
Cash flows from finan￿￿ *tlvStles:
Cash ourflows from repayment of borrowin8S
r4et cash {used In) flnancing activities
188,6891
188,6891
178,689
78,689
Change in cash and cash equivalents in the reporknn8
period
349.140
X6,936
Cash and cash equivalents at 01 September 2024
694.277
487,341
Cath and tash equlvalents at31Aiyust 2025
1ts13.417
694,277
Reconciliation of net movement Infundslo net tash fl¢h¥lrom o
trati
tivitie5
Net income forihe reporting period
Depveciation charge5
Amortisatlon of goodwill
lincreasel in debtors
Ioecreasel in creditors
379.364
133,PJ9
53.379
137.7431
124.369
375,455
1,399
53.191
118,3321
133,6631
Net cash provSded by operaling ¥tivities
653,168
471.050
Anal
is of Cash and Cash
Cash at bank and In hand
li
L043.417
14

iAUNCHPAD SIXIAI ÉNTERPRISE
Notes to the Financial Statements forthe yearended 31 Awtst 2025
NOTES TO THE FINANCIAL STATEMENTS
I. ACCOUNTING pouaES
Legal status olthe charity
Launchpad Social Enterprise is a company limited by guarantee. registered in En8land and Walès.
Launchpad Social Enterprise is a public benefft entity as defined by FRS102
Basis ol preparfng thÈfinancial statements
The financial statements have been prepared In accordance with the Charitie5 Statement of
Recommended Practice ISORPI, Accounting and Reporting by Charities, publtshed in October 2019,
the Companies Art 2(X)6, the Charities Act 2011 and applicable UK accounting standards, includin8 FRS
102.
The financial ststements have been prepared on a going con￿rn b35is under the historlcal cost
orwention. Under 'Going Concern, below. the trustees stale that they have reasonable expectation
that there are no material uncertainties that call into doubt the chafiiable company's ability to
continue in operation and meet its liabilities as they fall due. Consequently, the trustees have a
reasonable expectation that the Group will continue in existence for the next 18 months and,
therefore, have adopted the golng toncern basis in preparing these financial statsments.
Basls of con5011datlon
The consolidated 5tstement of financial artivit￿S ISOFAI. group balance sheet and consolidated
statement of cash flows consolidate the financial statements of the Charity and its wholly owned
subsidiary, Paint Pots Pr&School & Nursery Ltd. The finanaal statements of the subsidiary are
consolidated with the Chartty on a line-by-line basrs. Trdn5actions and balantes between the entitles
are eliminated on consolidation. Detsils of the subsidiary undertaking are given in Note 3.
No separate SOFA has been presented for the Charity alone, as perwnitted by $408 of the Companies
Art 2006. The total income of the Charity for the year was £S76,66212024.. £121,8891 and the net
result of thè Charity was a surplus of £483,32412024.. defiat gf £5,888).
Going concern
The Trustees have a reasonable expertation that the charity has adequate resources to rneet its
liabilities as they fall due for the foreseeable fvture. The Trustees consider that there are no material
uncertainties that may cast doubt on the charivs ability to continue as a going concern and thev
therefore continue to prepare the financial 5tstements on the going concern basis.
Income
All income is recognised when the charity has entitlement to the funds, any performance conditlons
attached to the itemlsl of income have been met and it is probably that the income will be received,
and the amount can be reliably measured.
Incomefrom nur5eryfees are intluded in the Ststement of Financial ActNities ISOFAI when the charity
becomes entitled to the fees and any condltions for receipt are met.

LAUNCHPAD SOCIAL EPITERPRISE
Notes tothe Flnancial Statements forthe year ended 31 August 2025
L ACCOUNTING pouaES Icontlnued)
Income from 8ovemment and other grants, whether'cJpital' grants o¥'reventse' 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 recei¥ed. and the amount can be measured
rellably. Grants are accounted for on a re￿1Vable basis.
Expenditure
Expenditure is rètognised once there is a legal or construcuve obllgatlon to make a payment to a thlrd
party, it Is probable that settlement will be required, and the amount of the obligatiorn can be
measured reliably. expenditure is accounted for on the accrua15 basis, and the trading costs have
been classified under headings that relate to the categories of trading income.
Charitable expenditure relate5 to the costs inCU￿d in support of the da￿tOdaY operations of each
nursery setting.
Support costs zre overhead costs necessariW Incurred In the runrtlng of thÈ tharrty.
Penslons
Defined contribution plons
Contributions to defined contribution plans are recognised as an expense in the period in which the
related service is provided. Prepaid contributions are reco8nised as an asset to the extent that the
prepayment will lead to a redurtion in future payrnents or a cash refund.
Operatln8 leases
Lease payments are reco£nised as an expense over the lease term on a stfaight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on
a straight-line basis.
Tanglblefixtd assets
Fixed assets are capitalised at cost, where acquired or mana8ements approximatlon valuatlon of cost
where donated.
In the charitsble company. depreciation is pThided to write off the cos¢ less an estimated residual
vBlue, or all fixed assets evenly overtheir expected economic usehjl lives as follows=.
Property- Yurt
Fixtures and fittinÉs
15 years straight-line
20% reduung balan
16

LAUNCHPAD 50aAI ENTERPRISE
14otes to the Financial Ststements forthe year ended 31 A￿uSt 2025
I. ACCOUNTING POUCIES {¢onllnued}
Forthe subsidiary undertakin& depreciation is provided towriteoff the cost, less an estimated residual
value. orall fixed assets evenly over their expected economic usefvl lives as follows.'-
Land & Buildings
Fixtu￿$ aNd fitttng5
Motor Vehicles
Equlpment
Any leasehold propertles ovèr life of the lease
20% straight line
25% rtraight line
33% strdight line
The need for any impairment of a fixed asset write4own is considered if there is concern over the
carrying value of an asset and 15 assessed by cornparing that carrying fdlve a￿l￿$t the value in use or
realisable value of the asset when appropriate.
Intan8lble fixed assets
Intangible assets are stated at cost less accumulated amortisation.
Amortlsation for all intangible asset5 is olculated on a ￿raight-ll￿e basis over thelr estimated useful
live5 as follows..
• Goodwill
10 year5 straight line
Critlcal judgements and e51imates
Estimates and judgements are continually evaluated and are based on historical experience and other
factors. including expectations of future events that are believed to be reasonable under the
circumstances.
The Group makes estimates and 355umptions coneerning the future. The resuking accountin8
estimates and assumptions will, by definition. seldom equal the related artual results. The estÈmates
and assumptions th* have a significant risk of causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year are discussed below.
The useful economic life of the 8oodwll is based on management'sjudgement and experience. When
managernent identifies thai artual useful economit lives differ Material￿ from the estimate used to
calculate amortisation, that charge is adjusted prospectivety.
Z. EXPENDITURE
Grnup
25
SupportC05ts
Depreaation
Amortlsarion of goadwill on subsidiaryaqui5ition
Expenditure on charftable activities
Corporation Ta¥
557,3%
51B,274
133.793
91,39J
53.379
s3.tsi
4.524.928 3.895.126
119.4241
8L325
114.4OJ
C68 W,445
L￿$
1932
S,250,078 4.5EQ,8XI
93,338
127,777
17

LAUNCHPAD soaAi EMTERPRISE
Notes tothe Financial Ststements for the year ended 31 AIW 2025
Gmup
Comp*
NetincryTre15 stated after¢h￿l￿.
Servi￿$ provided by the Charit15 auditors:
Audit fees
Accounts preparation fees
24.020
L610
IL220
Depreciation
Operating lease rentals-buildings
10.445
26L722
22&167
3. INVESTME1￿ IN SUBSIDIARY
On l Febr¢Jary 2022. the company purchased I(K￿ of the share capital of Paint Pots Pre-school &
Nursery Limited to expand it5 work in ear￿ years provision. The total cost of acquisition was
£1.424.406 split as follows..
l Feb 2022
qu5sftSon
Completion Payment
Capltalised Costs of Acquisition
L320,157
104,249
4244
Fairvalue of NetAssÈts
uired:
Tangible F*xed As5et5
Intangible Fixed Assets
Cash at bank and in hand
Debtors and Prepayments
Creditors and accruals
169,720
939,667
59,443
343.8481
891491
Goodwill arising on acquisition
53L915
¥4244
Pèint Pols Pre-school & Nursery Ltd (company number 038956S91 is a UK Registered company with
registered office at Paint Pots House, I Sprin£ C￿cent. Southampton. England, S017 2FZ.
The aggregate of the companrfs assets, liabilities and funds at 31 Avgust 2024 was £1,461,33612024..
£1.512.1061. The companvs gross ir*ome for the year to 31 August 2025 was £5.629.44212024..
£4,936,284) and the deficit for the year laftergift aid payrnentl was £50.77012024". surplus £434.5351.
Goodwill on acquisition is amorbsed over 10 years commencing in the year to 31 August 2023.
18

iAUNCHPAD SOCIAL ENTERPRISE
Notes to the Financial Statementslor theyear ended 31 Aug￿1 2025
The Consolldated Statement of Financial Activit￿5. Consolidated Balance Sheetand Con501idated Cash
Flow Statement include the companls share of the subsidiarfs results for the year.
Followingthe acquisition, the companychanged itsfinancial yearendfrom 31 Detemberto 31 August.
4. STAFF C05rs
All staff are employed by Launchpad Social Enterprise or its 5ubsldiary undertaking, except for Nlck
Ralph, whose stipend charge is recharged via Portsmouth Diote* Board of Finance.
5tsff costs for the period were as follows:
ConsoMated
2025
2024
Comwnv
2025
2024
Wages and Salaries
Secondment Fee5-The W Canon Nock
National insvrancecontributi0Th5
Pensioll costs
3543373
11.835
276.582
2.940.813
31.770
176.723
50.010
3.894,410 3.199.316
11.835
31,770
11.835
31.770
The average monthly number of employees, including directors, during the year wa5 18312024- 1741
acrossthe charitable tompany and r(s subsidiary undertakin8, worknng a mixture of parttime and full-
tlme term hours.
During the year, there were no redundancy payments rnade {2024.. £2,278 redundancy paid to one
individuall.
Trustee travel expenses reimbursed during the year amounted to £6412024.. Ef4Jl.
No employee earned ffl0￿ than £60,0￿1 perannum12024: nlll
Remuneratlon of Key Mamgemènt Per50nnel
Key management personnel are deemed to be those having authority and responsibility dele8ated
to them by the trustees. for planning, dirertin& and controlling the actNities of the organisation.
For the year ended 31 August 2025 this covered Executive Director-The Revd Canon Nick Ralph
2025
2024
The Revd Canon Nick Ralph
Salary and Pen510n
Expenses
9.956
29,998
31,770
19

LAUNCHPAD SOCIAL ENTEIIPRISE
Notes tothe Flnan¢lal Ststemènts forthe year ended 31 Aiwist 2025
5. SUPPORT COST ANALYSIS
Gmp
Cornpany
Office support ttssts
offi￿ Rent
53larles. HR & ￿¢ruitMent10Verhead?
Subscfiption5 & publications
Audit accountancy and taxation servitrs
261￿1
214.741
26L722
228,167
462 30,034
1171
L231
19.1
34.101
73,111
24
17(
35
IL220
S57.396 5ffj274
8L325
114.4Q)
6. TANGIBLE FIXED ASSETS
Consol1d￿ed
Freehold Leasehold
Other
& &Mldiry Impro¥*￿ Mrtorvthldes E4uipment
Fixiure &
FlttlnBS
Valuètlon as at..
015eptembÈr 2024
Additions
31Au8USt 2025
516.333
514 42Q495
54576
479,071
17,(fy3 L113,518
213.459
326.971
671216
1514
Oepre£iation
OISeptember J)24
Charge forthe ye81
At 31Au8USt 2025
3LYXI
381.
.ic
29&741
55.994
351735
9,547
I.￿7
ii.
n7.288
133,799
86L087
7.629
IS257
39.951
Net BOokv￿￿e
At31Awt2025
At 31August2024
97.693
4.351
123,754
386,230
Cornparry
Freehold
Flxture &
FlttSngs
Ouildin
Valuation as at..
OISeptember2024
31August2025
129,C03 17.C83 I￿176
129.(03 17.LYJ
144176
Depredatlon
At OISeptember2(ll4
Charge fortheyear
At 31August 2025
3l39)
4561
39.951
9,547
1507
40,937
10.t*8
SL￿5
Net Book Value
At 3LAu8USt J115
At 31Au8USt 2024
¥Y.J3Z
97.693
95,171
20

LAUNCHPAD SOCIAL ENTERPRISE
Notes to the Financial Statements for theyÈar ended 31 August 2025
7. INTANGIBLE FIXED ASSErs
Consolld*td
Goodwlll
Total
Cost:
OISeptember2024
Additions
31August 2025
fA5.1
64Si
Amortisatlon..
At 01september2￿Id
Charge forthe year
AI 31Au8USt2Q5
219,586
s3.￿1
271777
219,586
53.379
272,
Net BookValue-
At 3lAu8USt2025
At 31 Au8u5t 2024
3ll342
374,034
425,533
8. DEBTORS ANO PREPAYMENTS
Group
Company
Trade DebtOf5
Prepayments and ac(yued income
Other Debtors
ll481
420
1344
84.443 447(K)
420
9. CREDITORS
editofs:Amounts fallinKdue withln ye¥
Grnup
Compry
Trade CrÈditor5
Loans Payable
Obligations under finan￿ lease cofitTrcts
Accruals and deferred irscome
Othertaxation and soual securfty
otherCredilor5
43.537
74.SLXI
4.189
74420
46.153
24
74.5tKI
74,5(X)
74.50)
I￿3￿4
6.43)
36,812
415,201
27L4K)7
81,283
114.IX)I
21

LAUNCHPAD SOCIAL ENTERPRISE
Notes to the Financial Ststementsfor the y•ar 31 A￿uSt 2025
Credltor5: ATh)untsfallln8due knrnM)lEth￿QnF ye
Group
Company
Loans Payable
Obligations Underrinan￿ lease cOnt￿ts
Amount owed to subsidiary undertakin
Deferred Tax
417,(W XIL5CQ
&793
417.C£¥) SOLX
345.157
695.157
19.425
425.793 s33.￿1
761157 1.196,657
Loans Payable includes £491,5￿ 12024= £576.(1101 repayable to Winchester Diocesan Board of
Finante IWDBFI. These loans are unsecured. interest free and repayable as follows=
Gmup
Comp*
Repayable within lyear
Repayable between 2-5 year5
Repayable over MO￿ than Syear5
74.Xl)
745¢Y)
74.
298,((D 298.(MM)
119,lJXI
203.
I19.￿) 203,%
49L5(XJ
576.IfA)
49L5(
576.LKKI
10. LEASE COMMThENTS
Commltments under operating leases
Totsl future minimum lease payments under non-cancellable operatin8 leases for land and buildings
are as follows..
Group
comp￿¥
Within one year
Twtsto five years
(￿erfIve years
235.216
21L566
.fJ)$ 823,027
453.
475.949
LS87.411 LS10.542
22

LAUNCHPAD soaAL EpifERPRISE
Notes to thè Financial Ststements for the year ended 31 Au&￿t 2025
11. RECONCIUATION OF MOVEmEr￿ IN NET DEBT
Atol
Spptember
Othernon- At31Au8ust
C•sh Hows Fln*)cin¢ ta5h thanges
Cash at bank and in hand
Debt due within Iyear
Debt duÈ afterrnore than Iyear
FInar￿ leases
691.277
349.140
74.
io.(
1.043,417
174.5DJI
1417.oyjl
I74,￿)
74.5￿)
(S￿,5(￿)
117.lni
IOLIi
437.
538,935
12. RELATED PARryTRANSAclloNS
At 31 Au8ilSt 2025. loans totslling £491,SCQ12024= £576.(KlJl were ¢)wed to Winchester Diocesan
Board of Finance IWDBFI. LSE wa5 Set up by WDBF in 2015 in order to make use of a restricted fund in
WD8F for social responsibilty. WD8F is akn a truslee of the Charity.
Ouring the year, the charityreceNed a grant from tts subsidiary cofflpany Paint Pots of £576.66212024:
£121.8891. During the year, the charity repaid £350,(M)012024.. £nill against amounts owin8 to Paint
Pots. At 31 Au8USt 2025. the amount owing to Palnt Pots was £345.15712024.. £695,157).
None of the trustees ￿te1Ved any remuneration from the charity.
During the year, travel expense5 of £6412024: £601 were ￿1Mbu￿sed to one trustee.
13. SUBSIDIARY ENTITY
The results of the subsidiary company, Paint Pots Prtrschool & Nursery Ltd (company number
038956591 are Set out below.
Income
Expenditure
5urplus/ldeficitl for the year
5,629,442 4.936.284
5,680,212)
4,￿1.749
150,770
434.535
Total assets
I￿4,(61 1,701,922
1342,7151 1189.8161
4464336 L512.106
net funds at the end of the year