ISLES OF SCILLY MEDICAL LAUNCH TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2025 ISLES OF SCILLY MEDICAL LAUNCH TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2025 Contents Page Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balan￿ Sheet Notes to the Accounts ISLES OF SCILLY MEDICAL LAUNCH TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 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, Govemance and Management Governing document.. Trust deed dated 22 January 1973 The power of appointing new trustees is vested in the existing irustees, subject lo certain reslrictions set out in the Irust deed. Investment powers.. The truslees have absolule discretion over the choice of investments. 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 community 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 the Charity Commission's guidance on public benefit. {1) ISLES OF SCILLY MEDICAL LAUNCH TRUST TRUSTEES, ANNUAL REPORT (contlnued) YEAR ENDED 31 MARCH 2025 Achlevements and Perfornlance The Medical Launch Trust has steadily received on going local fundraising donations throughoLrt the year 2024125, with a large legacy of £61.144 received from the Mavis Belsey Estate. 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 the future. The Medical Launch Trust is currently in Ihe pro￿$$ of recruiting replacement trustees., this is in progress. Donations remain low, but th8 Trust hope to engage with the local communities to donate proceeds towards the Trust from various events held. Going Concern Due to sufficient levels of reserves held, the Trustees consider the Charity to remain a going ¢on¢em. Financial Review Reserves.. The reserves are held to cover any future deficit arising, in order to enable the Trust to continue to provide boat transport within the Isles of Scilly and on occasion to the mainland. At 31 March 2025 res8rves stood at £131,965 and the trustees consider this level of reserves appropriate. Sign8d on behalf ofthe Trustees Trustoo Dale.. (21 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISLES OF SCILLY MEDICAL LAUNCH TRUST I report to the trustees on my examination of the accounts of the Isles of Scilly Medical Launch Trust for the year ended 31 March 2025. 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 ('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(5}{b) 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. Ihe accounts do not comply with the applicable requirements concerning the form and Gonlent of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a 'true and fair view, which is nol a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Darren Perry ACA DChA CHARTERED ACCOUNTANT Dale: 7 October 2025 FRANCIS CLARK LLP Lowin House Tregolls Road TRURO {31 ISLES OF SCILLY MEDICAL LAUNCH TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 2025 2024 Note Income and endowments from: Launch hire Donations & Legacies Interest receivable 16,388 61,790 1,915 16,148 7,665 1,797 Total 80,093 25,610 Expenditure on: Charitable actlvltles Launch running expenses Independent examiner's fee and accounts 20,230 1,388 21,545 1,671 21,618 23,216 Net income l (deficit) 58,475 2,394 Net movement in funds 58,475 2,394 Fund balance brought forward at 1 April 2024 73,490 71,096 Fund balance carried forward at 31 March 2025 131,965 73,490 All funds in the current and previous year were unrestricted. {41 ISLES OF SCILLY MEDICAL LAUNCH TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Current assets Debtors and prepayments Cash at bank and in hand 63 76,483 134,918 134,918 76,546 Current liabilitles Creditors and accruals (2,953) (3,056) Net current assets Total assets less current Ilabilitles 131,965 73,490 Funds Unrestricted 131.965 73,490 Approved by the board of trust8es and signed on its behalf by: Trustee Dat8: (5) ISLES OF SCILLY MEDICAL LAUNCH TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (al Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommend Practice applicable to charities preparing their accounts in accordan￿ with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019) - (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. {bl Basis of preparation Isles of Scilly Medical Launch Trust meels the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or Iransaction value unless otheNise stated in the relevant accounting policy notes. {cl Going Concern The trustees have considered all mallers surrounding the Charity and its ability to continue as a going concern. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going ooncem. {dl Income and endowments Contributions and interest receivable are included in the Statement 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 the expenditure. {61 ISLES OF SCILLY MEDICAL LAUNCH TRUST NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 MARCH 2025 LAUNCH HIRE 2025 2024 Medical practitioners Community Healthcare Trust Others 8,004 8,004 380 8.004 8.004 140 16,388 16.148 DONATIONS & LEGACIES 2025 2024 Donations and legacies Gift Aid reclaim 61,843 1531 7,703 {38) 61,790 7,665 CREDITORS 2025 2024 Accruals 2,953 3,056 2,953 3,056 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. 17)