Charlty reglstratlon number 11673601England and Wales) LAUNCH PAD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LAUNCH PAD LEGAL AND ADMINISTRATIVE INFORMATION Trustees J Rlchardson B J Zwhalen J William8 Charlty number (England and Wales) 1167360 Prlnclpal addre85 Unlt 6 Trackslde Buslness Pa 281 Hawthem Avenue Hull HU3 SEN Independent examlner Tr6vor Mark Rackham Rackham's Accountsnts Llmit8d 3 Melton Enterpri8e Park Reddliff Road Metton East Yorkshir8 HU14 3RS Bankers Wirgin Money UK PLC 39 Saturday Markey Beverley HU17 9AQ
LAUNCH PAD CONTENTS Page Trustees, report Independent examiner's report Statwnent of financial activitie8 Balance sheet Notes to the fin8ncial statemanls 7-13
LAUNCH PAD TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees preBent thelr annual report and Ilnancial statements for the year ended 31 DeGember 2024. The linancial statements have been prepared in accordance with the accountlng pollcies set out Sn note 1 to the financial slatsments and Gomply with the tharItS governing doGument, the Charitles Act 2011, FRS 102 "The FinanGial Reportlng Standard applicable in Ihe UK and RepubfiG of Ireland. and the Charities SORP 'Accounting and Reportlng by Charltles.. Stat8m8nt Df Recommended Pradice appllcable trj chariti88 preparlng thelr accounts in accordanGe with the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 102)" ObjectNeS and actNltle5 The promotlon of CDmmunlty parildpatlon In healthy recreatlon In parucular by provldlng sportlng facilltles for parflcipation in Trampolinlng and a variety of gymnastic disciplines and oth$r cornpatible sportlng activitles and a8 a means to promote healthy and actlve Ilfestyles. Movlng forward. the focus ft)r the organisation is bullding for the future. We are planning on maklng significant Inveslment in out staff, 8quipment and f8cillttes. This has stsrted with brlnging in an offic8 manager and creatlng plans for a 8alaried gymnastics coach. Publlc ben8frt The tru8t88s have pald duo regard to guidanc8 iSBued by thg Charity Commlsslon In d8cldlng wh8t activllles th8 charity should undertake. Achievpmonts and performance SlgN'ticanÈ acllviÈie8 8nd achievements against objectives Stsfflng We continue to d8velop opportuniti8s for th8 young leaders to get into coachlng and two have now complet8d Iheir level one quabficatlons. on8 in trampolining and on6 in gymnastios. Generally arnong the club, oppofoinities for enhanclng the skills of Goaches have be8n supported thlth two stsff undertaking lev812 quallflcati()ns and CPD opwrtun5ties to complete the hlgher modules in trampolining ProgrammB Clas8eg have continued for r8cr8atlonal, compelitton. adult and fr88Style along wlth sessitm for thos8 wlth dlsabilities. These sessions have again been complimented by the holiday programm6 which has seen great demand on the sessions Nn. Daytime school provlslon has gon8 from strength to strength particularly wlth special schools and Ghlldr8n who ar8 not in mainstream education. New SGhools hav6 been added io the tlmetsble. Th8 presehooS programme ha8 Connued to b8 popular and a sem14ndependent group e5tabiish8d. Faclllty l Equlpment The roof has been looked at again and atthough significant improvement has been seen, there are stlll some are85 leaklng. Fundraising is now focusing on asymmelrlc bars 88 som8 of the older members are getting close to being too tall for our wrrentjunlor set, Thls is now a prtority.
LAUNCH PAD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Competltlons Th8 Kingston Trampoline League had three qualification 8V8nt5 with a fin818 with commemorative kit being available for quallfylng gymnasts to purchase 8nd a free gift of a pen for every competitor. Parklng at events which had been 8 concern has been resolved wlth the asslstance of Strata Holdlngs carpark and the scouts to man it as their opportunity to fundralse. Two in-house club competltlons were held, one summer and one winter event. We had entries in both gymnastics and trampolining. Externalty we entered the National Trampoline League with five qualifying to the tlnals anc5 CcAe galning a gold medal, we also entered the English qualifying events with both Co19 and Elliot qualifying for English Championships @re they both became Engllsh Champlons for their age group at 811ver18vel. Flnanclal ravl8w We have mlgrated our fees collection to the company Coacha. Fees go through Strlpe card payments rather than direct deblts. Parents have an App to book classes and camps. Our rent r8view h88 r88ulted in an Increa8e of 33% backdated l O month8. Thi8 will hav6 a significant impact on our attempts tD purchase new equlpment and Improve fadlltles. We wlll probably have to go Into our reserves and we are looklng at ways to Inuease Income wlthout havlng to put up fees. One way is to add classes to reduce our waiting list, but W8 need mor8 coachgs. W8 wim enquire amongst our adu116 group io se8 if anyone is interested in belng supported to galn a quallfficallon. R&8eNes poIY Our reseNes pollcy Is stlll set at £20,000. Plans for fulure Periods r plans to develop the derelict part of the faality into a cla8sroorn and tollets have been PLrt on hold due to the slgnlflGant Increase In the rent. Stwcturei governance and management The Charity is constituted under a gov6ming document having register8d as a Charit8bl8 Incurporated Organisalion In 2D16 8s Launch Pad prfor to Whit known 88 Hull High F118rs Tr8mpollne Gymn8StIc8 Club. The Charity is affiliated to British Gymnastic5 (BG) and Yorkshire Gymnastlcs (YGA). BG being the goveming body 8ssociation. The trust8es who s8rv8d during the year and up to thg dat8 of signatur& of the financial sta18ment8 woro. J Richardson B J Zwhalen J Williams other matters Safeguardlng Th8 dub has twc welfare officer6, There has been one safeguarding concem regarding soclal medla use outside of the dub. This was dealt with successfully by informlng the parent who was grateful for the clubs involvement.
LAUNCH PAD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, report was approved by the Board of Twstees. T. J Williams Twstee 20 October 2025
LAUNCH PAD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAUNCH PAD I report to the trustegs on my examination of the financial stat8m8nt8 of Launch Pad (the charity) for the year ended 31 December 2024. Rosponslbllltles and basls of report As the trustees of th8 ch8rFty you are responsible for the preparatlon of the flnanclal Btatements In aGrdance with the requlrements of the Charltles Act 2011. I report in respect of my examination of (he ch817ty's fin8ncial st3tements carrled out under sectlon 145 of the Gharftles Act 2011. In rryIng oul my examlnatlon I have folk)wed the Directlons givgn by the Charity Commission under 8ectlon 145(5)Ib) of the Charllle8 Act 2011. Independent examlnDrf8 8tatèment Your attehtion is drawn to the fact that the charity has prepared the financl81 statements In accordance wlth the relevant verslon of Ihe Statement of Recommended Practice applicable to charities preparing their financial statgments in accordance with the Financi81 R8POrting Standard applicable in the UK and Republic of Ireland (FRS 102) In PTeference to the Accountlng and Reportlng by Charltles: Statement Df Recommended Practlce issued on 1 Awil 2005 which is referred to in the extant regulations but has now been wrthdrawn. l understand that this h8S been done in order for th8 flnanual statements to provide a true and falr vlew In accordance wlth UK Generally ACpted Accounting Pracllce. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination glvlng me cause to belleve that in any material respect: accounting records were not kept in resp8ct of the charity as required by Section 130 of th8 Charities Act 2011. the financial statements do not accord with those records", or the financlal statements do not comply wlth the appllcable requirements nCernIng the form and cont&nt of financlal statements set out In the Charitias (Accounts and Reports) Regulation8 2008 other than any requlrement th8t the fin8nci81 st818ments giv8 8 tru8 and fair vlew, whlch Is not a matter considered as part of an independent examination. I have no convm and havp come acr088 no olher matters in connection wlth the examlnation to which attention should be drawn In thls report In order to enabk a proper understandlng of thp financlal stat8m8nts to be reached. Trevor Mark Rackham Rackham's Accounlanls Llmlted 3 Melton Enten)rise Park Redclliff Road Melton East Yorkshlre HU14 3RS 20 October 2025
LAUNCH PAD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrfcled UnrestrlGted funds fund8 2024 2023 Notes Income from: Don8lion8 and legaGYe8 Charflable actlvltles Other tradlng actlvltles 658 139,298 7,388 179,255 8,418 Totsl Incom 188,637 147,344 Expendlture on: Raislng funds Charitable sctlvltles 152 189.082 122,383 Total expendlture 189.234 122,383 Net incomel(expendlture) and movement In funds (597) 24,961 Reconciliation of fund5: Fund balances at 1 January 2024 63,446 38,485 Fund balance5 at 31 December 2024 62,849 63.446 The stat8ment of Ilnanclal actlvltles Includes all gains and10sses recJnised In the year. All Income and expendlture derive from continuing activities.
LAUNCH PAD BALANCE SHEET AS A T31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 12 16,810 16,532 Current assets Debtors Cash al bank and in hand 13 973 60.149 60.687 60,616 Crgdltors: amounts falling du8 within one year 15 (4.970) {2,000) Net current assets 55,717 58,616 Total as88ts 1058 current liabilities 72,527 75,148 Credltors: amount8 falling due after mor8 than one year (9,678) (11,702) Net as50ts 62,849 63,446 The fvnds of the charity Unrestricied funds 17 62,849 63.446 62.849 63,446 The tlnanGial 8tst&m8nts wer8 approved by the trustees on 20 October 2025 J WAlliams Tru51e
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcle8 Charlty Informatlon Launch Pad is 8 charitable Incorporated organisation reglstered in England and Wales. 1.1 Accountlng convention The financlal statements have been pr8pared In accordance wllh the chaiity's govemlng document. th8 Ch8rities Act 2011, FRS 102"The Financial Reporting Standard applicable In the UK and Republic of Ireland. and the Charllles SORP 'AccoLtnting and Reportlng by Charltles: Statemgnt of Recommend8d Practlce appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl& in the UK and Republic of Irgland IFRS 102). The Gharity is a Publlc Benefit Entity as dgfin8d by FRS 102. Th8 Charity has taken advantage of the provislons In the SORP for charltles not to prepare a statemant of cash flows. The financial ststements are prepared in sterfing. which is the functioh81 Gurr&ncy of the charlly. Monetary amounts In these flnancial statements are rounded to the n&arest £. The financi81 statements have been pr6par8d und8r th8 hlstorfcal cost conventlon. Th8 prlnclpal accounting policies adopted are set out below. 12 Golng concèrn At the tlme of approving lh8 financl81 statements, th8 tru8te88 have a reasonable exp8ct8tion that th& charity has adequats resources to continue in operallonal existence for Ihe for&s8eable future. Thus the tru8tees contlnue to adopt th8 golng concem basls of accounting in preparlng the financial statements. 1.3 Charltable funds Unr8Strict8d funds are avallable for u88 at the dlscretlon of the trust88s in furtherance of thelr charitsbl8 obleth'ves. Re8lrict8d funds are subject to specific conditlons by donors or grantors as to how they may be used. Th8 purp0568 and uses of the restricted fund8 are set out In the notes to the financial statements. 1.4 Income Income Is recognised when th8 charity is legally entltled to it after any performance condltlons have been met, Ihe amounts can be measured rellably, and it is probable that income will be r8ceiv8d. Cash donatlons are recc*3nis8d on rec8iPt. 0th8r donallons are recognis8d once th8 charlty has been noffied of the donation. unlass performance conditions require deferral of the amount. Income tax recoverable in rdatlon to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt OT otheNise If the charity has b&on notified of an Impending distrlbutlon, the amount Is known, and recelpt Is expected. If th8 amount Is not known, the legacy is treated as a contingent asset,
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (Contlnued) Expendlture Expenditure Is reGognlsed once there Is a legal or constwctlve obllgatlon to transfer economic ben8fil to a third paty. it 18 probable that a transfer of economic benefits will b8 r8quired In settlemen( and the amounl of the obligation can be measured reliably. Expenditurè18 claB8ified by activity. The c08t8 of each 8Ctivty are made up of the totsl of dlrect costs and shared costs, Includlng support costs Involved In undertaking each activity. Direct costs attrlbutable to a slngle aGlivity are 8llocat8d dir8Ctly to that activity. Sharod costs which contribute to more than one aclivlty and support costs which are not attrlbutable to a single activity are apportioned belween those activities on a basls conslst&nt with the us8 of r850urces. Central staff costs are allocated on the basis of time spenL and depreciatlon charge8 are allocated on the portion of the asBet's US6. 1.6 Tanglble flxed assets Tangible fixed asset8 are initially measured at cost and subsequently measured at cost or valuatlon, net of depreclatlon and any Imp81rment losses. Depreciation 18 r8cognis8d 80 a8 to write off the c08t or valuation of assets le8S their residual values over thelr useful Ilves on the followlng bases: Plant and equipment 15% reducing balance The gain or loss arising on the disposal of an asset is detemiined as the dlfference between the sale proceeds and the carrylng value of the asset, and Is recognlsed In the statement of flnanclal activlties. 1.7 Impaimi8nt of red 48sets At each r&portlng 8nd date, the Gharity revlews the carrylng amounts of Its tanglble assets to determlne whether there Is any Indlcatlon that those assets have suffered an Impaimi8nt loss. If any such indic81ion exlsts. the recover8ble amount of the asset Is estlm8ted In order to determlne the extent of the Impalrment loss (Ir any). 1.8 Cash and cash equlvalentS Cash and cash equiva18nts include cash in hand. deposit8 held at call with banks, Other short-term liquld Inveslments wlth orlglnal maturltles of three months or les5, and bank overdrafts. Bank overdrafts are shown wlthln bomwings in curr1 liabilities. 1.9 Employee beneflts The cost of any unused holid8y 8ntit18m8nt is rocognised In the perlod In whlth the employee's servlces are received. T8miination benefits are recognised immediatety as an expense when the charlty Is demonstrably commFLted to terminate the employment of an employee or tD provlde termlnation bgn8fits. Income from donatlons and legades Unrestricted Unrestrlcted funds fund5 2024 2023 Grants 964 658
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In¢omo from charitabl8 activitlO8 Unrestrlcted funds 2024 Unrestrlctèd funds 2023 Charltable actlvlty Income Fegs Kit income Entry fees Tuck income Equipment sale8 Venue hire Other Incom8 Competition incom& 120,232 9,460 11.591 15,996 950 12.170 1,955 6,911 90,143 7,870 9.806 10,946 3.745 11,120 794 4,874 179,256 139,298 Income from other tyadlng actlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Fundralslng events 8,418 7,388 Expendlture on ralsing funds Unrestrfcted Unr8strlctgd fund8 funds 2024 2023 Fundralslng and publlclty Otherfundraising costs 152
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charftable act[tIeS Charltable Charltable activity actlvity expenditure expenditure 2024 2023 Direct C08ts staff costs Depreclatlon and impaimienl Renv insurance Competltlon feesl event expenses Clothlngl klt Caterlngl tuck shop Coaching coursesl CPDI DBS Admlnistratlon Equipment Rates Utilities Cleanlngl sanllary Subscriptions Sundries Loan repayments 47,782 2,918 33,815 2.967 53,919 4,237 5.768 5.161 4,195 1,747 3,884 660 16,678 1.133 466 1A67 346 4.526 4,113 3,351 1,662 5,261 696 11,634 356 1,599 749 395 188.081 121.496 Sharg of support and gov8rnanGe c08ts (808 nots 7) Governance 1,OD1 887 189,082 122,383 Analysis by fund Unr8striGt8d funds 189,082 122,383 Support costs allocatsd lo activities 2024 2023 Govemance costs 1,001 887 Analy88d betw88n: Charitable activity expendrture 1,001 887 10-
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Not movement In lund8 2024 2023 The net movement In fund5 Is stated after charglnol(cr8dlting): Fees pay8ble for th8 Independ8nt examlnation of th8 charfty's flnanclal statements Depreclatlon of owned tanglble flxed assets 2,967 2,918 Trustees None of the trustee5 lor any persons connectsd wEth them) recelved any remuneratlon or benefrts from the charity durlng the year. 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salarl68 85,453 47,782 Thor8 were no employees who8& 8nnu81 remuneration Wfds mor8 than £60,000. 11 Taxation Th9 charity is exempt from taxation on its activitie8 bpcau38 all Its income is applled for charftable purpo8e8. 11
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Tanglble fixed assets Plant and equlpment Cost At 1 January 2024 Additlons 19,450 3,245 At 31 December 2024 22,695 Depreclatlon and Impalrment At 1 January 2024 Depreciation charged in the year 2,918 2,967 At 31 Decembar 2024 5,885 Carylng amount At 31 Dec8mber 2024 1S,810 At 31 December 2023 16,532 13 Debtors 2024 2023 Amount8 falllng due withln one year: Trade debtors 538 973 14 Loans and overdrafts 2024 2023 Bank loans 11,678 13,702 Payable within ono yeaT Payable after ce year 2,000 9,678 2,000 11,702 15 Credltors: amounts falllng due wlthln ona year 2024 2023 Notes Bank loans Other taxation and soclal seajiity Other credltor8 14 2,000 2,611 359 2.000 4,970 2,000 12-
LAUNCH PAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Credltors: amounts falling due after mor8 than one year 2024 2023 Notès Bank loans 14 9,678 11,702 17 Unrostricted funds Th8 unrestrlGted funds of the Gharfty Gomprlse Ihe unexpended balan$ ol donatlons end grants which ar@ not subject to speciflc conditions by donors and grantors as to how they may be used. These Include designated funds whlch have bpen set aslde out of unrestrlcted funds by the trustees for 8pedflc purty)ses. At 1 January 2024 Incomlng Resources resourceg expended At31 December 2024 General funds 63,446 188,637 {189,234) 62,849 Prevlous year. At 1 January 2023 Incomin9 resources Resources expended At31 December 2023 General funds 38,485 147,344 (122,383) 63,446 18 Related party tran8actions There were no dlsclosat4e related party transactlons dutlng the year (2023 - none). 13-