ISLES OF SCILLY MEDICAL LAUNCH TRUST
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 31 MARCH 2024

ISLES OF SCILLY MEDICAL LAUNCH TRUST
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 31 MARCH 2024
Contents
Page
Trustees, Annual Report
Independent Examiner's Report
Stalement of Financial Activities
Balance Sheet
Notes to the Accounts

ISLES OF SCILLY MEDICAL LAUNCH TRUST
TRUSTEES. ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
Reference and administrative information
Charity Commission registered number..
265346
Address..
Health Centre
St Mary's
Isles of Scilly
TR21 OHE
Trustees:
Mr C. Simmonds
Mr D. Godfrey
Professional advisors..
Bankers
Barclays Bank plc, Leicester, LE87 2BB
Independent examiners
Francis Clark LLP, Lowin House, Tregolls Road,
Truro, Cornwall
Structure. Governance and Management
Governing document:
Trust deed dated 22 January 1973
The power of appointing new trustees is vested in
the existing trustees, subject to certain restrictions
set out in the trust deed.
Investment powers"
The trustees have absolute discretion over the
choice of inveslments.
Objectives and Activities
Objects..
The trust was constituted for general charitable
purposes and in particular for the furtherance of
health and the relief of poverty, distress and
sickness among the communily in the Isles of Scilly.
In furtherance of these objects the trustees have the
power to purchase or hire a motor launch to carry
patients. medical supplies, doctors, dentists, nurses
and other persons working for the health of the
people of the Isles of Scilly.
In planning our activities for the year we kept in
mind Ihe Charity Commission's guidance on public
benefit.

ISLES OF SCILLY MEDICAL LAUNCH TRUST
TRUSTEES, ANNUAL REPORT (continued)
YEAR ENDED 31 MARCH 2024
Achievements and Perfom7ance
The Medical Launch Trust has steadily re￿]Ved on going local fundraising donations throughout
the year 2023124, the Trust is looking to improve the amount of donations received.
Scottish Widows investments remain the same until it is agreed to utilize the funds in th8 futura.
The Medical Launch Trust is currently in the process of recruiting replacement trustees, this is in
progress.
Donations remain low, but the Trust hope to engage with the local communities to donate
proceeds towards the Trust from various events held.
Going Concern
Due to SLfficient levels of reserves held, the Tnjstees ¢onsider the Charity to remain a going
concem.
Financial Review
Reserves..
The reserves are held to cover any future deficil
arising, in order lo enable the Trust to continu8 to
provide boat transport within the Isles of Scilly and
on occasion to the mainland.
At 31 March 2024 reseNes st¢X)d at £73,490 and
the trustees consider this level of reserves
appropriate.
Signed on behaK of the Trustees
Trustee
Date.. i¥ lJsC<ffi6&l knY+
(2)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ISLES OF SCILLY MEDICAL LAUNCH TRUST
I reportto the trustees on my examination ofthe accounts ofthe Isles of SGilly Medical Launch
Trust for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 I'the Act,).
I report in respect of my examination of the Trust's accounts carried out under section 145 of
the 2011 Act and in carrying out my examination I have followed all the applicable Directions
given by the Charity Commission under section 145{5llb} of the Act.
Independent examiner's statement
I have completed my examination.
confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Trust as required by section 130
of the Act., or
2. the accounts do not accord with those records., or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a 'true and fair view, which is not a
matter considered as part of an independenl examination.
I have no concerns and have Gome across no other matters in conneGlion with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Darren Perry ACA DChA
CHARTERED ACCOUNTANT
Dale.. 19/12124
FRANCIS CLARK LLP
Lowin House
Tregolls Road
TRURO
13)

ISLES OF SCILLY MEDICAL LAUNCH TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2024
2024
2023
Note
Income and endowments from:
Launch hire
Donations & Legacies
Interest receivable
16,148
7,665
1,797
16,813
3,397
658
Total
25,610
20,868
Expenditure on:
Charitable activities
Launch running expenses
Independent examiner's fee
21.545
1,671
23,435
1.265
23.216
24,700
Net income l (deficit)
2,394
13,832)
Net movement in funds
2,394
13,832)
Fund balance brought forlvard at 1 April 2023
71,096
74,928
Fund balance carried forward at 31 March 2024
73,490
71,096
All funds in the current and previous year were unrestricted.
14)

ISLES OF SCILLY MEDICAL LAUNCH TRUST
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Current assets
Debtors and prepayments
Cash at bank and in hand
63
76,483
90
73,836
76,546
73,926
Current liabililies
Creditors and accruals
(3.056)
(2,830)
Net current assets
Total assèts less current Ilabllltles
73,490
71,096
Funds
Unrestricted
73,490
71,096
Approved by the board of trustees and signed on its behalf by:
Trustee
Date.. 1% tJÉcÉM8ÉI
(51

ISLES OF SCILLY MEDICAL LAUNCH TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
(al Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities.. Stslemenl of Recommend Practice applicable lo 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) - {Charilies SORP {FRS 1021),
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
and the Charities Act 2011.
{bl Basis of preparation
Isles of Scilly Medical Launch Trust meets the definition of a public benefit entity under FRS
102. Assets and liabililies are initially recognised at historical cost or transaction value
unless otherwise stated in the relevant accounting policy notes.
(cl Going Concern
The trustees have considered all matters surrounding the Charity and its ability to continue
as a going concern. The truslees consider that there are no malerial uncertainties aboul
the Charity's ability to continue as a going concern.
(dl Income and endowments
Contributions and interest receivable are included in the Slalemenl of Financial Activities
{SOFA) when receivable. Donations are included in the SOFA when the charity becomes
entitled to the donation and any conditions for receipt are met.
{el Expenditure and liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing
the charity to Ihe expenditure.
16)

ISLES OF SCILLY MEDICAL LAUNCH TRUST
NOTES TO THE ACCOUNTS {continued>
YEAR ENDED 31 MARCH 2024
LAUNCH HIRE
2024
2023
Medical practitioners
Community Healthcare Trust
Others
8,004
8,004
140
8,004
8,004
805
16,148
16,813
DONATIONS & LEGACIES
2024
2023
Donations and legacies
Gift Aid reclaim
7,703
(381
3,420
1231
7,665
3,397
CREDITORS
2024
2023
Accruals
3,056
2,830
3,056
2,830
RELATED PARTY TRANSACTIONS
There are no related party transactions in the period requiring disclosure.
No remuneration or expenses have been paid to any trustee or persons connected with
them.
(7)