VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P 1148 Registered number: 1459149 Charity number.. 279859 LAUNCHPAD READING (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P2148 LAUNCHPAD READING (A company limited by guarantee) CONTENTS Page Roference and Adminislrative Details of the Charity. its Trustees and Advisers Trustaes. Report 2- 21 Independent AudTlors' Report on the Financial Stslements 22-24 Consolidated Statement of Financial Activities 25 Consolidatod Balanca Sheet 26 Charity Balance Sheet 27-28 Consolidated Statement of Cash Flows Notes io th8 Finan¢tal Ststemenis 30-46 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P3148 LAUNCHPAD READING IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Hannah Powell, Chair Ajison Wright, Vice Chair lan Haslam, Vice Chair Willian) Montague. VITX Chair Aan Andrews Anna Bailey lappoint&l 14 May 20251 Amy Brunsdon (appointed 5 February 20251 Deborah E¢Jwards Fiona Hammond (appointed 5 September 2024) Philip Jones Joycee Rebelo lappc4nl￿ 14 May 2025) Anna Ghelli (resigned 8 Juty 20241 Suzanne Hall (resigned 5 September 20241 Sean Sulcliffe {resigned 28 November 20241 Helen Waring Iresigned 5 September 2024) Company regist8red number 1459149 Charity registsred number 279859 Company secretary Susannah Hamblyn Chief executive officer Susannah Hamblyn Independent auditors James Cowper Kreston Audit Chartered Accountants Statutory Auditor Reading Bridge House George Street Reading Berkshire RG18LS Bankers Barclays Bank PIC Apex Pla2a Reading RG1 1AX Metro Bank 201 Broad Street Mall Reading RG17QA Solicitors Field Seymour Parkes The Old Coroners Court No 1 London Street Reading Berkshire RG14QW Page 1 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 4M8 Trustees, Annual Report for the Year Ended 31 March 2025 The Trustees, who also serve as Directors of thè charity for the purposes of the Companies Act 2006, present their annual report and the financial statements for Launchpad Reading (Charity Registration No. 2798591 and its wholly owned subsidiary. Launchpad Reading Services Ltd (Company Registralion No. 11162563}. for the year ended 31 March 2025. The Trustees confirm that the annual report and financial statements have been prepared in accordance with the requirements of the Companies Act 2006 and comply with the Statement of Recommended Practice {SORPI applicable to charities preparing their accounts in accordan￿ wth the Financial Reporting Standard applicable in the UK IFRS 1021. Structure, Governance and Management Legal Structure Launchpad Reading is a registered charity {C119rty No. 2798591 and is a company limited by guarantee incorporated on 5 November 1979. The Charity's governing instrument is its MemorarHlum and Articles of Association. Members have guaranteed a contribution of £10 each in the event of the dissolution of the charity. Organisational Structure Launchpad Reading has a Board of Trustees with be￿een eight to trorfelve members who meet quarterty and are responsible for the strategic direction and policy of the charty. A scheme of delegation is in place and day-lo-day responsibility for the provision of the services rests wth the Chief Executive Officer along with the Senior Management Team. The Board of Trustees, the Chief Executive Officer ICEOI and the Senior Management Team ISMTI meet quartedy, where the Trustees agree to the strategic direction and oversee the charity's operations. The board has three sub-committees, Operations, Marketing and Fundraising which held triannual meetings during the year. A newly formed ALtdil and Risk Committee was established al the end of the financial year. Additionally, an annual strategic °away4af is held lo reflect on progress and plan for the )lJlure. Throughout the year. an average of 38 full-lime staff, 13 part time staff and 86 volunteers worked collaboratively to deliver Launchpad Reading s strategy and support its mission. The Board of Trustees, the CEO and the SMT extend their sincere gratitude to the remarkable individuals who make Launchpad Reading what it is, our dedicated staff and volunteers. Every success we achieve is a direct reflection of their unwavering commitment. passion, and belief in our mission. Their tireless efforts continue lo inspire and drive meaningful change in our communty. Recruitment and Appointment of Launchpad Reading Trustees The Directors of Ihe company are also Charty Trustees for the purposes of charity law and under the company's Articles are known as members of the Board of TTuslees. Under the requirements of the MemorandLtrm and Articles of Association Ihe members of the Board of Trustees have lo be elected by DMO thlrds 01 the Board OY Trustees. One thlrd OY members of the Board of Trustees are p for re-election each year. The CEO is line-managed by the Chair of Trustees and, together with the SMT, is responsible for ensuring the effective delivery of the charity's services in line with its strategic objectsve5. Launchpad Reading focuses upon the needs of those people who are homeless or at risk of homelessness in Reading. and their needs for 5UPPOrt and accommodation. The Board of Twstees seeks lo ensure that the needs of this group are appropriately reflected through the diversity of the Page 2 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P trustee ljody. Trustee 5ki115 audit5 help to inform future recruitment to the Board to ensure access to a broad range of relevant skills and experience M'ilh which to guide the charity. The charty seeks Trustees who represent both Ihe local community. have a housing background andlor the traditional skills needed for running a small business. Best pracb.ce requires us lo report that trNO Trustees have served on the Board for mDre than 9 years- both ofthese Trustees continue to provide valuable conlribulions to the running oflhe charity. We were pleased lo welcome trNo new Trustees during the year, adding to the breadth arKI depth of skills and experience on the Board. Succession planning and diversity lin all its forms} are vital to the long-term success of the Board and 50 new applicants for Trusteeship are welcorned, with furtherwork on active recruitment of new Trustees currently under review. Trustee Induction and Training New Trustees are appointed by the existing board in accordance with the goveming document. which allows for a minimum of 6 and a maximum of 15 Trustees. All Trustees receive a fomial induction upon appointmenL a trustee handbook providing clear guidance for new Trustees. All Trustees are regularty invited to relevant training and provided with Ltpdales lo ensure that they are clear on their roles and responsibilities. All Trustee5 give their lime freely and no Trustee remuneration was paid during the year. related paty transactions are disclosed within Note 23. Trustee Tenure As of this reporting period, Hannah Powell and ￿an Matthew Andrews have served as Tnjslees for over nine years. The board regularly reviews trustee tenure to ensure effectNe govemance and continuity. in line with best practice guidance. statement of Compliance The Trustees confirm that the annual report and financial ststements have been prepared in accordance with the requiremenls of the Companies Act 2006 and comply with the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK IFRS 1021. Objectives and Activities Our Vision Launchpad Reading wants everyone in Reading lo have their owrb home and the opportunity for positive fv￿re. Our Mission Our mission is to house, support and empower vulnerable people to transform their Iwes and fijifil their potential. Our Values We are committed to the following values.. RESPECT: EMPOWER.. INTEGRITY.. INFLUENCE= We respect the unique worth of every individual Everyone has the opportunity to help others fulfil their potential We are open. ￿nsIstenI and a¢counlab1e We use our skills and knowledge to encourage change and innoval￿n Every person who tums to us for help is drfferent and faces unique challenges. We provide bespoke, holistic support on an individual basis, abNays considering the best way lo help in each srtuation. Page 3 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 6148 These are the tsngible things we do to help people in Reading= Provide safe, decent accommodation Deliver high-quality. personalised support Help people become more active and involved in their local commurbtty Raise awareness of homelessness across Reading Collaborate with local agencies and organisalions for greater impact Our Services Launchpad Reading is Reading s leading homelessness prevention charity, providing vital information and holistic support for indThiiduals, couples and families who don't have a stable place to live. or are at risk of losing their home. Our key areas of focus as an organisation are.. Preventing homelessness lo provide housing, support. and education services to individuals al risk of homelessness in Reading. Providing homes - Launchpad Reading aims to break the cyde of homelessness by providing both temporary and long-temi homes for those who don't have a clean, safe and stable place lo live. Rebuilding lives We support individuals in addressing personal challenges and rebuilding their lives through therapeutic activities, as well as guidan￿ in education. training, and employment. Our approach promotes independence and well-being through tailored support plans that respond to each person's unique needs and aspirations. In planning our activities, the Trustees have complied with the duty in section 17151 of the Charities Act 2011 to have due regard to public benefft guidance published by the ChaTty Commission. Our Impact and Achievements We are incredibly proud of our achievements over the past year. It has been a story of grovrth. with demand for Launchpad Reading's services increasing by 22QA year-on-year. In January 2024. we were awarded a new contract by Reading Borough Council lo provide 24-hour support across new projects, which began on 1st April 2024. This, combined with the purchase of new properties in the previous year, has signrficanlly expanded Ihe housing oplions available in Reading. Preventing Homelessness Drop-in Service.. This service offers specialist infomiation and support for anyone at risk of losing their home. No referral is needed, anyone can simply visrt our offices. This service remains a vitsl first point of contact for anyone experiencing housing difficulties. Clients sought support for a wide range of issues. including.. Facing imminent eviction Resolving landlord disputes Piesenting a5 homele55 Qri the day Benefit and financial support We run this service not only wth a skilled team of dedicated staff bul also with the invaluable support of a passionate team of volunteers. The Drop-in seNice helps people resolve housing crises, feel supported and infomied, and connects them with local specialist agencies forfvrther assistance. Page 4 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P 7148 During the year ending March 2025. 1,089 individuals accessed our Drop-in service. marking 5% decrease from the previous year. This decline was primarily due to fewer presentations from refugees and asylum seekers. However, we observed a rise in the complexty of individuals. circumstances, which meant that each case required more time and in-depth support. Although fewer people were seen overall, the servtce continued to provide high- impact. person-cenlered assistance, ensuring that those who did attend received timely, focused. and effective support. Floating support- Sometimes people need more help to overcome a serious housing-related challenge. Our floating support service works with individuals, couples and families to address the rool of their housing problems so they are able to obtain and 5UStain a long-temi home and lead full and independent lives. This team delivers tailored, short-lerm support, typically lasting 3 to 6 months, to those at risk of losing their home due to challenges such as.. Resettlement Tenants, sustainment Navigating utilits'es and benefits 234 households received help through Launchpad Reading's Floating Support service. during the year ending March 2025. This number refiects not just the scale of the need in our community, but also the dedication of our team in delivering meaningful, lrfe-changing assistance to Ih05e facing housing insecurtty. Providing homes Supported housing sepiice- We provide and maintain temporary accommodation across Reading lip to 10a people at any one time. spread across 16 properties. who are homeless or al risk of becoming homeless. Each client recewes individual, largeled support for 6 10 12 months, guided by a personalised support plan designed to address the root cause5 of their housing crisis and help them move toward independent living. Our work with local partner agencies and communty groups ensured clients received wrap- around support. giving them the best opporbjnity to rebuild their lives and break the cyde of homelessness. 153 people were housed and supported through this Service during the year ending March 2025, an increase of 90A compared to the previous year. Each client was provided with a safe place lo live in one of Launchpad Reading's properties and received dedicated support from our team to prepare for a planned and positive transition into sustainable housing. Importantly, 55 clients successfvlly moved on from supported housing into independent accommodation. no longer requiring Launchpad Reading's support. up from 32 the previous year. This significant increase highlights the effectiveness of our approach and the resilience of our clients in achieving lasting change. We secured an additional propety, allowing us to expand our longer-temi accommodation offer and support more individuals in need of slable housing. Long-term accommodation.. Launchpad Reading is committed lo helping clients not only move on from homelessness but also thrive in long-lenn, stsble housing. By the end of the year, we had expanded o¥Jr provision to 29 long-lerm accommodation bed spacesfor individuals, couples, and families in housing need. These are typicalty allocated lo people who have previously been supported by Launchpad Reading and are now ready to live independently. or lo others in urgent housing need referred by the local authorty and supported by our team. Over the course of the j'ear. 26 people were supportedthrough this accommodation. Page 5 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 8148 Resettlement: This involves more than just securing a home. Our team provides practical, hands-on 5UPPOrt lo ensure client5 are ready to manage and sustain their tenancy. This includes.. Sourcing essential white goods Assisting with budgeting and financial planning Helping set up utility account5 Providing ongoing tenancy managernenl guidance 25 clients were successfvlty resetded into long-lerm homes during the year ending March 2025, up from 13 the previous year. a 72Wo increase. This grohth relects the dedication of our staff and Laun¢hpad Reading's strategic investment in sustainable housing solutions, including participation in the Reading Borough Council Rent Guarantee Scheme. The Caversham Road Pod5- Established in 2021 by Reading Borough Council, these self- contained modular homes support up to 40 people wrth complex needs who have experienced rough sleeping_ Launchpad Reading provides 2417 wraparound support, working intensively with each resident in pathership with other agencies. Clients typically slay for 2-3 years to rebuild their lives and break the cycle of homelessness. Within our first year, we have supported 50 clients, 10 of whom have successfully moved on lo more independent living arrangement5. dernonstraling the effectivene55 of The Caver5ham Road Pods in providing a stable foundation for long-letm recovery and reintegration into the communty. The Nova Project: A specialist, Irauma-informed service for 10 multiply disadvantaged women, launched in 2021. It offers a safe, gender-specific environment where women can recover from experiences such as domestic abuse and homelessness. Launchpad Reading staff provide hollsik support In collal)oraUon wlth panner agencles. As women expefience homelessness differently from men - affected by violence, abuse and sexual harassment- there is a need for specialised, individual. gender-informed sUPPOrt to work through severe traumas such as domestic abuse which Launchpad Reading staff will provide alongside partner agen￿e$. The home is a safe space for female residents lo help them begin to recover from Ihe experience of homelessness and lo help them rebuild their lives until they are ready to move on Within the first year, we have supported 16 women, many of whom have progressed in their recovery journey, transitioning into more stable and independent living situations. and taking significant steps toward rebuilding their lives free from trauma and homelessness. Launchpad Reading aims to break the cycle of homelessness by providing both temporary and long-lemi homes for those who don't have a clean, safe and stable place to live. Below is summary of our housing provision as at 31 March 2025.. Service Properties 8ed5paces 104 Support•d hoLJ$ing Move onlGeneral Needs Housing - long term Nova Project Caversham Road Pods 29 10 40 Total nos. 25 183 Page 6 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 9M8 Rebuilding lives We know it takes more than just a home to help people move out of homelessness. We support people to tackle their issues and rebuild their lives through therapeutic activities arbd support with educatson, training and employment. As part of this comprehensive approach, our removal team helped 29 clients during Ihe year, assisting them with the practical steps of moving into more stable accommodation. Launchpad Reading - Work and Life Skills centre Locatgd just a tori-minuto walk from Launchpad Roading's town contro offic•s, tho Wod( and Lrfo Skills Centre at 135 Cardrff Road is a purpose-built space designed lo help vulnerable people in Reading gain the skills, confidence, and support they need to transfom their lives. At the Centre, individuals who are homeless or atrisk of losing their home can access a wde range of opportunities to leam, grow, and rebuild. Whether it's developing practical lrfe skills, accessing emotional support. or preparing for employment, the Centre provides a welcoming and empowering environment for personal progress. The Centre features a variety of bespoke facilities, including.. A training kitchen for cooking, food hygiene, and barista training ¢ourses A DIY workshop to build pradical home maintenance skills A laundry area lo support self-care and independent living Hairdressing facilities where professional volunteers offer free haircuts An IT suite for Job searching, digital skills, and online learning A counselling service offering emotional and mental heahh support Creative and wellbeing spaces for activities such as art, photography. creative wrrting, yoga. and mealtaiion Through this well-rounded approach, the Work and Life Skills Centre helps people move forward with dignity, purpose, and the tools they need to build a brighter, more stable future. The Wot* and Life Skills Centre supported 210 clients during the year ending March 2025, equipping them with the tools, knowledge, and confidence to lake meaningful steps toward independence and a more secure future. These individuals engaged in a wide range of acttvities designed to build life skills, improve wellbeing. and prepare for employmenl. As part oftheirjoumey.. 15 clients tCx)k on voluntary placements, induding.. 3 as Peer Support Workers 3 as Lived Experience Volunteers 9 with external organisalions in sectors such as retail. food banks, hospitality, and theatre 11 individuals successfully secured employment in industries including IT. hospitslity, care. and warehousing These OLrtcomes refiect the Centre's Commitment to not onty supporting people in crisis but also empowering them to thrive in the bng temi. Counselling The Work and Life Skills Centre provide free counselling for clients who have often experienced trauma and need support with their mental health. 15 individuals received counselling during the year ending March 2025, provided by volunteer counsellors for suprK)rt with anxiety, depression, stress, emotional management. and other areas. Page 7 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P IOM8 Partnership Working The Wotl( and Lrfe Skills centre has signrfi¢anty expanded its programme of activities throug strong partnerships with corporate supporters, slalulory agencies, charities. and community groups. These collaborations enhance the Centre's offerings and provide clients with access to a wide ne￿Ork of support.. SmartWotks- Inte￿ieW coaching and professional clothing Christian Community Action ICCAI- Volunteering cpportunities and resettlement support Peter Doyle Music Ltd - Guitar lessons Change Grow Live- Drug and alcohol support The Community Wellness Project- Wellbeing activities National Careers Service- Careers workshops lopen to the publicl Reading Voluntary Action - Get Online Reading and Social Prescribing Reading Station Planters Project- In partnership with Food4Families, Ne￿Ork Rail, and the Bee Friendly Proje Readifood Food Bank- Emergency food parcels Museum of English Rural Lrfe-'SOW' Men's Mental Health Programme Universrty of Reading - Work-ready visits and student placements Launchpad Reading are incredibly grateful for the ongoing pro-bono support from our partners and local businesses, which continues to enrich our services and events.. Crumbs- Edible items and prizes for fundraising IKEA- Ongoing provision of moving-in packs The Oracle, Novotel Hotel, and The Doghouse- Training and meeting spaces Local busine5ses- Raffle prizes from The 8i5CUit Factory, Ebb & Flow, Honest Burger. Reading Rep, The Roseate Hotel, Shed Café, Vegivores, and Vino Vrta Event 5ponsor5- ReadKng BID, Tomato Energy, and oGion In addition, Launchpad Reading recewe essential donations of clothing, fijmiture, and household items from.. Christian Communty Action ICCAI- FuFniture and resetuemenl support The Cowshed - Adult and children's clothing. bedding, and baby essentials Readifood- Food Par￿lS for clients in crisis Legal support Launchpad Reading have a partnership with Oxford-based law fifm Turpin Miller LLP who provide access lo a solicitor. The solicitor provides crucial housing and homelessness-related legal advice and lakes legal action on behaK of people who are at risk of losing their home or who don t have a safe place lo live. The solicitor works with clients to ensure they are treated lawfully by landlords, housing associalions and other agencies across Reading., by upskilling our staff, educating people who come lo us for support on their legal rights. helping them navigate complicated lega1 proceedings and acting as an advocate when they are too vulnerable to use their voice. 112 clients, from within our clientele, accessed thi5 vital service during the year ending March 2025, receiving expert legal support that helped them understand their rights, navigate complex housing issues, and take action to secure sale and stable accommodation. Page 8 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 1IM8 Volunteering Launchpad Reading has a team of over 86 volunteers who provided 4,790 {2023124- 4,636 hours) of support during the year. This equates lo a donation wth a monetary value of over £65,876. Our volunteers work in both clienl-facing and back-office roles- they provide counselling, support homeless people at our drop-in seNice, run acliiities at the Work and Life Skills Centre, cheer on runners at our events. give community talks about the charity as charity ambassadors. and help with offl￿-based adminislralion. Our regular volunteers work with us for a few hours or even several days a week, and other volunteers support us on a more ad-hoc basis at fundraising and communty events such as Carols by Candlelighl and the Pancake Race. Our Impact for 2024 Launchpad Reading continues lo grow as a resilient, forward-thinking charty, committed to tackling homelessness and housing insecurty in Reading. With a clear vision and a strong foundation, we remain focused on expanding our reach and deepening our impact in the years ahead. In summary for 2024125, we supported 1,832 individuals, an increase from 1,801 in the previous year, demonstrating our continued abilty to meet sustainable demand and deliver lrfe4hanging support across our services. The number of clients supported by each service.. 234 household5 were helped by our Floating Support service 1,089 people were supported through Drop In 153 people were supported by our supported housing leam 210 clients were helped by our Work and Lrfe Skills Centre 29 clients were helped by our removals team 26 people were housed in our general needsllong term housing 50 clients in the Caversham Road P¢xls service 16 clients in the Nova disadvantage women 25 clients that have been resetled Page 9 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P IW48 Client stories- Sam. When I first went to Launehpad Reading Work and Life Sknlls Cenlre, I was quite broken. I was in my mid-30s and had just been diagnosed Autism. I could no longer work as a swal worker, something I'd done for many years and in several countrie5. After a lifetime of coping as an undiagn05ed autistic per50n. I bumt out. l just couldn't do basic things for myself anymore. I wasn't really functioning al all. The Work and Life Skills Centre was recommended lo me by the Commun¢ty Mentsl Health Team. Initially I came once a week lo take part in the Art Club. It didn't take me long lo realise this was a place where I could truly be myself wilhoul worrying about how I was acting {masking}. I could see straight away that the staff and voluntee here were positive and oplimislic. There is no pressure to perform. The whole experience was far less invasive than everything I'd been dealing with for years. Initially, l just came ar￿ painted and then I had a few 121s with one of the Work and Life Skills Centre team. We Set small, achievable goals. I was still very fragile. but l experienced a gentle re-awakening. Why I needed help from Launchpad Reading I spent quite a lot of my childhood on my own. wrthdrawn frc*n the kids in my school and neighbourhood. When I did mix with other kids the challenges I had as an unrecognised autistic child Islill many years away from being diagnosed at this pointl made life difficult. I made il to university which felt like a very welcome escape and after passing my degree I decided that I wanted to be a social wcwker. I did a lot of new things- I travelled a lol and worked in three drflerent countries. I started to burn out from putting myself in situations that were stressful to me. Trying lo fit in, and the stress that caused, started to affect my health. In 20141 was working in the UK. and I missed a full week of wot* for the first time. due to mental health issues. I pushed on bul things gol worse and in 2016 1 crashed. I was diagnosed with depression and anxiety and put on medication. l asked for help from my employers bul didnl get what I needed. I just ended up feeling that I had voice, and I left my job later that year. I thought taking anotherjob overseas would help. but this imas a mistake. I came back lo the UK and got a new job in Reading. but soon after that I propedy crashed. My menLIl health was so bad, l just couldn't keep up with work. I knew that I couldn't continue with my career. This was very drfficult for me- I'd been a social worker for years. By the time I was 30, 1 was bumt out. I fell so bad Ihal I couldn't do basic things for myse￿, I w￿n't really functioning. Not being able to work quickly put my home al risk and despite having a very supporbve landlord, I had lo leave my flat. At first, I found tt very difficuh to access the benefrts system ~ I was oveNhelmed. l ended up sofa surfing and relying on food banks. It was at this point that I first mel the Launchpad Reading team. I went to a drop-in session and asked them for help. They referred me to Reading Borough Council's housing team which resumed in me getting a flat- somewhere stable to live. I was still being cared for by the Community Mental Health Team, but I struggled to gel across how I was feeling. A lot of things just didn't seem to make sense. But then the au115m diagnosis came, finally! And it made so much sense. Once I had a diagnosis, I was able lo do so much research myself and it answered a lot of questions. Shortly after my diagnosis, one of the mental health team recommended I tried going to the Work and Lrfe Skills Centre and that's how a new chapter began. I realised I was truly safe with Ihe Launchpad team which gave me the confidence to take part in an employer speed- networking event. l also signed up as a lived experience volunteer at the Work and Life Skills Cenlre. I was able to lead a lrfe-skills social event about the written word. poety, and athork. The group wrote a poem together. and I saw how powerful the Peer-t￿peer support that goes on al the Work and Lrfe Skills Centre is. I was able to start working again, part time. drawing on what I'd experienced in my time as a volunteer. I'm so grateful for the Work and Lrfe Skills Centre team for giving me my life back. 'Name changed to prot￿1 our cliwrt. s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P IJM8 Fundraising Like many in the sector, Launchpad Reading has faced significant fundraising challenges over the pasl year. Economic instability has made income streams increasingly unpredictable, with donor behaviour shrfting in response to i¥oader financial pressures. For the financial year ending March 2025. fvndraising income lotalled £623.417, down from £732,620 the previous year, a decrease of nearli 150A. This decline reflects the ongoing volatilty in donor engagement and the financial strain many households continue lo experience. While the number of new donors has declined. we've seen a promising trend.. those who continue to give are doing so more generously on average. This suggests that, despite financial pressures. our committed supporters are choosing to deepen their impact. However, participation in fvndraising events remains low, and regular monthly giving has dropped compared to the previous year, likely a reflectKJn of the broader economic uncertainty. In response, ourteam is actively Irialling new events and engagement initiatives lo reconnect with the communty and inspire renewed support. Despite these challenges, Launchpad Reading has continued to adapt and innovate in its fijndraising efforts-securing vital funding, launching new initiatives, and strengthening both community and corporate partnerships. We are incredibly grateful to all our donots, event participants, and corporate partners. Your generosity and commitment have been instsumenlal in helping us deliver lrfe-changing servI￿s. These experiences have underscored the importance of diversifying our income streams and re- engaging the wider community. Looking ahead, we are investing in digital engagement, creative campaigns, and innovative events to ensure we Can continue meeting the growing needs of those we support. Fundraising Support, Campaigns, and Events Grant Funding Highlight5 We were delighted to secure an additional three years of funding from the National Lottery. extending support for the Work and Lrfe Skills Centre through lo December 2027. This vitsl investment enables us to continue empowering individuals with the skills and confidence needed to build brighter, more independent fuluies. We also received a £50,000 grant from The Eailey Charity Capttal Projects Fund lo support the refurbishment of The Stables, which will house our Drop-in seryice. This renovation will create a welcoming, accessible, and purpose4uih space for clients in need of immediate support. Fundraising Campaigns and Events The year began with a difficult decision. Due to low sign-up numbers, we had to cancel the Big Sleep Out. which was planned for July al the University campus. In response, we quickly introduced a new initiative called Walkies. This virtual dog-walking challenge encouraged supporters to walk 100 miles with Iheir dogs throughout October. The event brought together 22 enthusiasts"c participants and showed great potential as a new addition to our fundraising calendar. A5 the festive season approached, our community once again demonstrated incredible gener05tty. In December, our Christmas campaign was highlighted by the Carols by Candlelight event at Reading's Concert Hall, supported by LAX Events. More than 300 people attended, including the LoTd High Sheriff and the Deputy Mayor of Reathng. Guests er)joyed performances by Take Note Communty Choir and Reading Phoenix Choir, along heartfelt readings from clients, staff, and supp¢Nters. The evening was a moving celebration of hope and communty- Page11 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P 14M8 In February. the much-loved Pancake Ra￿ retuined lo Broad Street. Twenty-six team5 from local businesses and communty groups took part, raang in colouthl fancy dress. The event was filled with joy and energy, bringing people together and strengthening our connection with the local communty. Throughout the year, these even15 reflected our ability to adapt, engage. and inspire. Each campaign broughl people together in creative and meaningful ways, helping us continue to deliver lrfe-changing services to those who need them rnost. Corporate Support Corporate partnerships remain a vital part of our fundraising strategy. contributing approximately 20OA of lolal fundraising income. We are incredibly grateful for the continued support of businesses such as TA Fisher (Holdings) Ltd, Pure Offices Ltd, Blake Morgan LLP. Elmbank Mortgages Ltd and Scion Communications Ltd, whose generous contribub.ons during the year have helped make a meaningful drfference. While remote working continues lo challenge traditional in-office fLEndraising, we've taken steps to strengthen our corporate engagement. In 2024, Launchpad Reading joined the Reading Town Centre BID Committee, helping raise our profile among local relailers and businesses. Our Allotment Days continue lo be a popular and rewarding way for companies lo get involved. Over the past year, 13 ¢ompanies participated and overall the allotment produced more than 100 boxes of fresh produce. These were distributed to the Work and Lrfe Skills Centre and Readrfood, supporting both our clients and the wider community. Tap for Reading Launched in January 2025 by Reading Borouoh Council. Tap for Reading is a new initiative encouraging contactless donations lo support local homelessness charities. Five donation points across the town centre collect funds, which are evenly distributed among Launchpad Reading, The Salvation Amiy, St Mungo's, and YMCA Reading. This collaborative effort ensures donations are used effectively lo provide long-lerm support and solutions for people experiencing homelessness. Fundraising Standards information Launchpad Reading is committed to its charitable aims and fundraises in order to provide housing and additional support and services to its clients. Launchpad Reading has an ethical fundraising policy, abides by the Fundraising Regulators Code of Practice and follows the Chartered InslitLrte of Fundraising's CcKJes of Fundraising Praetice. The Head of Marketing and Fundraising and Fundraising Manager are members of the Institute of Fundraising. We do not use external fundraisers, with the exception of a grants and trusts consultant who worked with us one day a week as an extension to the team and relired in March 2025 Launchpad Reading respects the rights of its supporters to receNe clear, Iruthful information on the work of Launchpad Reading and will openly report how we spend donated monies and undertake lo manage donors, data and infomiation responsibly. We comply with the Charity Commission and UK law every respect. including Ih05e regarding openness and honesty with ow supporters and members of the public. Page 12 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P 15M8 Organisational Development Launchpad Reading's approach to organisational development 1$ guided by the principles of the Charity Govemance Code. These principles undeTpin how we shape. communicate, and deliver ou¥ strategic direclion. ensuring that our govemance structures promote continuous improvemenL transparency, and alignment with our mission and values. Services Client Engagement.. Significant progress has been made on the development of our'your Voice, group including a new client newsletter. which is set to launch soon lo enhance communication and connection across services. Co-Production Relaunch: Reinlroduced co-production acfoss all Reading seryices, including input from a lenanl with lived experience, reinforcing our commitment to collaborative Service design and delivery. New Female Property Trialled.. A fenwle-only propety was piloled as well as a new Women's Group at our Work & Lrfe Skills Cenlre. Due to a lack of referrals we sadly had to end the trial, however will continue to monitor female numbers across our services. Pod and Nova Contract.. Contract secured through lo March 2026. Property Office Environment Upgrades- Renovation5 to The Stables began in December 2024. We are grateful to have received £50,000 in fvnding from The Earfey Charty Caprtal Projects Fund lo support this wotk. The upgrades will provide: Improved client meeting areas, including a dedicated client entrance, reception room and waiting area, flexible mèèting rotsms with enhancèd soundprts)fing. and a kitchen space for refreshments. A potential safe space fo¥ comrnunty group use duiing evenings and weekends, and the capacty for 24tT service provision if needed. Housing Department Restructure.. The Housing Department was restructured to ensure Complian￿ with accreditation standards for tenancy services. A new Maintenance and Compliance role wa5 created. Staff completed training in Decent Homes Standards14 51afft, HMO regulations. IOSH, and Fire Safety. We also enhanced our reporttng capabilrties to support the effective delivery of planned maintenance and key perfomiance indicators IKPlsl. New Property Lease: In 2024, we leased one property from a new private landlord. adding 8 additional bedspaces to our supported housing portfolio. stock Improvements: We refurbished an existing propetty and converted it into move-on housing to help meet the demand for affordable accommodation in Reading. Additionally. we upgraded and refvrbished the cornmon areas in several key properts"es, direcdy benefiting 20 tenants. Environmental and Sustainability Strategy: We launched a new environmental and sustainability strategy this year. reinforcing our commilmenl to responsible and sustainable practices. Page 13 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P 18M8 People New Chair and Executive Committee.. The Board of Trustees welcomed a new Chair. Hannah Powell and a new executive committee. Three TNstees Sean Sutcliffe, Helen Suzanne Slallard and Helen Waring, stood down and were thanked for all their dedication and support. Trustee Recruitment Campaign: A successful recruitment campaign was launched and promoted on soc¢al media. resulting in new trustee appointments. staff Well-being Activities= A variety ol well-being events and aclivf(ies were organised throughout the year to support staff mental health, resilience, cultural awareness, inclusiveness. and a sense of belonging. Investment in Training: Continued investment was made in staff and managerial training a￿0$$ all departments lo support professional development. staff Newsletter.. The monthly staff newsletter continues lo be a vital communication tool, as confirmed by the staff SUTvey resuhs. It effectively shares good news stories, practical tips. and cross-departmental guidance. Policy and Process Review.. Ongoing reviews of intemal processes. handbooks. and templates were carried out lo ensuTe consistency and efficiency. Cautious Year-End Approach: Due to the increase in National Insurance costs from April 2025, announced in the 2024 Budget. a cautious financial approach was taken al year-end to manage slaff-related expenditure. IT Window$ 11 Upgrade: Completed the organisa*ion-wide upgrade from Windows 10 to Windows 11, enhancing system security, perfomiance, and user experience. Server Room Relo¢ation: Successfully moved the server room lo the Annexe, improving infrastructure layout and operational efficiency. WiFi Upgrade at The Stables: Install&J a new WiFi system at The Stables to support faster, more reliable connectivity for staff and client5. Marketing and Fundraising Website Audit and Improvements: Completed a full audit of the website, focusing on accessibilty, user experience, and the donor joumey. As a result. we improved the donation process and introduced a tsanslalion feature to better serve our diverse audiences. Social Media Expansion and Content Growth: Increased both the quality and quantity of content across all social media platforms. Additionally, we launched accounts on Threads and Bluesky as contingency platfomis in response to I￿goIng issues with X lfrjmierfy Twitter). Supporter Newsletter Enhancements: Updated and improved the supporter newsletter. leading to increased engagement and hwher click-through rates. Page 14 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 17M8 Financial Review In 2024125, the charity's principal sources of income were- Rental income. including both housirbg benefrt and tenant contributions. Contract incorne from Reading Borough Council IRBCI for the delivery of supported housing and floating support servI￿s, including the new contracts for The Caversham Road Pods and The Nova Project. Grants from trusts and stalulory bodies, which are vital in funding addf(ional services that support clients rebuilding their lives. Voluntary donations and fundraising income, which enable us to extend our impact beyond core service delivery. The ongoing economic challenges across the UK in 2024125 had several effects on Launchpad Reading: Continued demand for services= While demand slighdy decreased compared lo the previous year. still over a thousand individuals al risk of homelessness still relied on our support. highlighting the continued and uitical need for our seNices. Rising operating costs.. Increases in utility bills. insurance premiums, and interest rates placed additional pressure on our financial resources. Decline in grant and fundraising income.. The cosl-of-living crisis affected many of our supporters, resulting in a continued decline in voluntary donations and event participation. Recruitment and retention challenges.. The compelilive labour market and rising living cosls niade it increasingly diffiGult to attract and retain skilled staff, parLiculaily in fioiitjine roles. Desprte these challenges. we are deeply grateful for the continued supp)rt from trusts and foundations. Notably, we secured a new Ihree-year grant from The National Lottery (January 202 December 20271 to support the development of our Work and Lrfe Skills Centre. This initiative will play a key role in helping individuals rebuild their lives after homelessness by providing tailored support. training, and personal development opportunities. Importantly, the grant will also enable us to expand our reach into local communities through a new outreach Prtyjramme. This initiative will allow us lo engage with individuals who may not yet be accessing our services, offering eady intervention and tailored support to prevent homelessness before rt occurs. By building stronger connection5 within neighborhoods and working closely Mqlh local partners, we aim to identify and assist those al risk earlier, empowering them with the tools and guidance needed to maintain stable housing and improve their overall wellbeing. We have continued lo invest in staff weWare, training, and development lo ensure our team is well- equipped to meet client needs. This includes providing regular professional development opportunities, access lo mentsl heaAh and wellbeing resources, and fostering a supportive workplace culture. By prioritising staff wellbeing and continuous learning, we aim to relain skilled proles510nals, enhance service quality, and ensure our leam remains resilienl and responsive In the face of complex and evolving challenge5. Expenditure has increased during the year, though not lo the extent initially anticipated. Several smaller projects and activib.es were temporarili postponed redirecting resources towaids the significant rebuild and refvrbishmenl of The Stables area. This project focused on modernising and enhancing the client Drop-ln space used by our floating support seNice-creating a more welcoming, accessible, and trauma-infom)ed environment for individuals seeking help. Improvements included updated fumishings, better lighting. enhanced privacy features, and a more fijnctional layout to support both one-to-one and group interactions. Page 15 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P IW8 In addition, the office area above was fully refurb15hed to improve working conditions for staff. with upgraded IT infrastructure, improved ventilation, and reconfigured spaces to support collaboration and wellbeing. We are e¥ecially gralefvl lo The Earley Charity for their generous grant of £50,000, which played a crucial role in funding this transformative work. The other primary driver of expendriure growth was slaff-related costs. These increased due to the recturtment of additional personnel to support the Caversham Road Pods and The Nova Project, the annual pay review. and a one-off severance payment. Environmental considerations are embedded in all our operations, particularly in relation to property works, which are Ca￿led out in accordance with best practice and full compliance standards. We have continued with our new 'green' energy contracts and, during the year. Iwk further steps to roduco our onvironm•ntal impact. As part of The Stables refurbishment, we implemented a range of environmentally conscious upgrades. These include the inslallalion of low-energy LED lighting, air conditioning, and improved air ventilation systems. PIR (passive infraredl lighting was instslled where appropriate lo reduce ￿n￿e￿ssary energy use. All internal and exlemal walls were fitted with additional insulation to enhance thermal efficiency. Furthermore, the nevi frontage features UV and heat-reflective glazing with advanced insulation properties, contributing lo a more sustainable, energy*fficient, and comfortable environment for both clients and slaff. We continued lo feel the impact of ongoing economic challenges across all areas of our work, with sustained demand highlighting the continued and critical need for our services. From housing support and legal referrals to skills development, removals assistance, and specialist programmes for vulnerable groups, our team5 have worked tirelessly lo meet the diverse and complex need5 of our communty. In response, we remain committed to careful financial management to ensure the lorkg-temi sustainabilty of our operations. By continuing to generate operational surpluses, we aim to reinvest in essential capital assets. including our housing stock, office premises, and IT infrastructure,. so we can maintain and strengthen the comprehensive support we provide across all our services. Reserves The Board of Trustees ha5 reviewed Launchpad Reading'5 reserve requirements considering the principal risks facing the Charity. As a result, the Trustees have established a reserve5 policy aimed al ensuring the continuity of core operations during periods of unforeseen drfficulty- In accordance wrth this policy, a portion of the reserves will be held in a readily realisable fomi lo ensure immediate access to funds rf required. Followng this assessment, the Trustees have determined that Launchpad Reading should maintain free unreslricled reserves of £550,000 10 meet Ihese needs. The Trustees also designate unrestricted ftjnds for known or expected commitments such as those relating to property or project development. The Trustees monitor the level of reserves as part of management accounts reporting and ieview the ie5erves policy and reserve requirements al least annually. Launchpad Reading'5 reserves can be summarised as.. Total funds at 31 March 2025 less.. Restricted fund5 less.. Designated funds £7.297,377 1£ 106,2061 £ 340 560 £6850611 However, at 31 March 2025, the value of functI￿al fixed assets {primarily property used for core service provision) was £7,943,335 which means that Launchpad Reading has no Yree reserves.. However, rf both functional assets and long-lerm borrowing of1£1,551,9051 which is related lo propety purchases and development are excluded- the picture is as follows.. Page 16 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15".3522 WIUTC +11 DY5 P 19M8 Nel current assets at 31 March 2025 less.. Restricted funds less.. Designated funds £ 905,951 {£ 106,2061 £ 340 560 £459 185 Included within the designated funds is £150,000 allocated for capital expendi￿re related to the refurbishment of our office environment. Addf(ional designations have been made for IT infrastructure upgrades. including improvements lo our CCTV system and website. as well as the purchase of vans for our caretakers to help maintain our propertie5 more effectively. The remaining £139.160 of designated funds is primarily intended lo enhance the seNices we provide to OUT clier)Is. This include5 SUPPOrting the vitsl work carried out at our Work & Life Skills Centre, and funding aGGess to a specialist s01iGitor to a5SlSt Glients facbng con7plex houslng issues. Operational surpluses provide the essential funding for ongoing investment in capital assets, including residential properties, Offi￿ premises. and critical infrastructure such as IT systems. Wherever feasible, Launchpad Reading aims to purchase propety rather than lease, as ownership offers greater long-lenn securty and improved cash flow. The Trustees are confident that the level of free reserves will increase during the coming years due to a reduction in loan financing and related repayments. Investments Aside from retaining a prudent amount in reseNes each year, most of the charity's funds are to be spent in the short or medium term so there are no funds for long-term investments. The Future Registered Provider Status We have initiated the proce35 Df gathettng infotrTratiorb seeking expert adviGe with the aim of applying for Registered Provider IRPI slalus. Achieving this slattjs will enable us lo expand our housing provision. support more individuals in need, and strengthen the organisalion's capafAty and long-temi sustsinability. Becoming a Registered Provider would also allow us lo form new partnerships, while also opening access to Social Housing Grants, Local Aulho¥ty referyals. This shift would signrficantly enhance ou¥ ability lo pursue our goal of increasing the number of properties and rental income within the Reading area, supporting the charity's fu￿re growth and impact. Importantly, this development will not amer the mission or vision of our charty- We remain fully committed to our core values and the communf(ies we serve. We believe that becoming a Registered Provider will complement our existing work and enhance our abilty lo delivei on our objectives. and strengthen our impact, wf(hout affecting the day-t<&day operations or the essence of what we do. Services Aim.. Help mole people across Reading to avoid homelessness. We are committed lo supporting individuals experiencing or at risk of homelessness by offering long-lerm. sustsinable solutions. Our key priorities are to: Develop the Work and Life Ski115 Centre lo ensure continuity of service and introducing an outreach offer for individuals wrth multiple and complex needs Secure extensions on our cu￿ent servtce contracts lo maintain continuty and support ongoing delivery, Mqlh continued focus on quality assurance. Improve reporting and use of data to inform service development. Page 17 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 20M8 Launch 'Your Voice.. our client newsletter. and continue activety engaging wth clients and tenants to contribute content and share their perspectives. We will also continue lo monrtor and review the needs of our clients, and those in need within the wider communty of Reading to identfy opportunities for service improvements or expansion. This will be done in collaboration with clients to ensure our services remain ￿leVant, responsive. and impactful. Property Aim.. Increase our stock of secure. affordable housing. We aim to expand our affordable housing options and increase the number of bed spaces available to individua15 atbd fatnilies aGr055 Reading. Oui foGU5 aFea5 are to.. Complete the renovation of The Stables offices to create a flexible, accessible space with community use, and refurbish our main office to enhance fvnclionalty and provide a more welcoming, efficient. and collaborative environment for staff and visitors. Growing our portfolio of property through partnerships lo expand affordable housing provision. Continuously reviewing tenant need5 and the quality of our housing, ensuring timely maintenance and uphold decent home standards. Develop our compliance reporting to effectively infomi stock condition. People Aim.. Build on our resilience and expertise and move forward together We are committed lo fostering a culture of continuoLFS leaming and development, where staff, volunteeis, and clients feel valued and empowered_ Our priorities are lo- Continue to build capabilty levels Mfjthin the organisation aimed at increasing levels of resilience, agilty, innovation, Pfoblem solving, judgement & decision making IntrodLEce careerjourneys and leaming pathways for managers and staff so that individuals can thrive within the organisalion. Start the joumey of reviewqng our organisational values. to meet the needs of the future. Continue to conduct staff surveys and host employee forums to ensure that everyone has the opportunty to contribLrte to the development of the organisation. Marketing and fundraising Aims.. Increase awareness. engagement. and income to support our mission. We want to grow the number of Reading residents who are aware of Launchpad Reading to encourage them to share, support, donate, volunteer and attend our events, and increase fvndraising income in order lo support growing demand for services. Our goals include.. Continue to innovate with new ticketed events to attract new audiences. ie- Summer Solstice event, Launchpad Reading's summer festival. Strengthen our donor base by increasing regular supporters, enhancing social media engagement through video content that highlights our services and donor impact, and continuousty improving donor stewardship and retention. Upgrade the website lo enhance the donor and tenant journey, improving usabilty, engagement, and overall experience. Page 18 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 21M8 Risk Managernent The Trustees regularfy review the major risks to Which the ¢harty is exposed, particularly in relation to service delivery, safeguarding, and financial sustsinability. Mitigation strategies are in place, including robust policies. staff training, and financial controls. We already employ quantilalive risk metrics to assess the likelihood and impact of key risks. These metrics help us monitor trends. evaluate the effectiveness of mf(igalion strategies, and infomi deciston-making at both operational and strategic levels. Safeguarding We take the safeguarding of our clients, volunteers and staff very seriou5ty. All staff and volunteers go through a robust recruitment process, including fijll referencing and enhanced D8S checks where required. Our Code of Conduct clearfy sets out expectations for professional boundarFes and safeguarding. Safeguarding is part of our mandatory induction and training programs for clienl-facing staff and volunleers. We maintsin a wide range of safeguarding policies and procedures. which are regularfy reviewed and updated. Where safeguarding concems arise, we fvlly investigate and report to the relevant safeguarding authorities. We have processes in place lo ensure we continually leam and improve our safeguarding practices. Launchpad Reading also ha5 a whistleblowing policy. and anti-bullying and harassment policies to support a safe and respectful environment. Risk & Internal Control The Board of Trustees oversee a review of the risks lo which the charity is exposed, recorded in risk register. We have an established risk assessment and evaluation piocess, which is updated as required and reviewed at least annually. Where appropriate, systems and procedures have been established to mitigate the risks the charity faces. In conjunction with this, Launchpad Reading staff, management and trustees adopt a dynamic response lo risk management and regularly review and assess risk, as well as OLFr response to th¢￿e ri$k$ as they evolve over lime. Launchpad Reading mitigates risk through a rigorous approach lo policy development, implementation. and enforcement in areas induding.. Safeguarding Vulnerable adults Data security Health and Safety Employment Financial management and control Fundraising Intemal control risks are minimised by the implementation of procedures for aulhorisation of all transactlons and projects and ensurlng procedural compllance wrth any curreni legIslat￿e requiremenls or best practice. Procedures are in place lo ensure compliance wrth health and safety of stsff. volunteers, clients and visitors to accommodation and office environments. These procedures are reviewed regularly to ensure that they continue to meet the needs of the charity. Principal Risks and Uncertainties The Trustees have established a register for all major strategic, business, and operational risks. These are reviewed regularly by the relevant subcommiltees and annually by the Board of Trustees. Page 19 s*n*bJroTr*rtty#bn R8f.21INP￿Z￿ 14•4¥J 2025 15."3522 WIUTC +11 DY5 P 2W48 Initial responsibility for managing risk lies with the CEO and Senior Management Team. with oversight by the Trustees. We are commrtted lo a dynamic and proactive approach to risk management, ensuring our systems and procethres evolve in response lo internal and extemal changes. The charity adopts a comprehensive and structured approach to risk management, covering governance, operations, finance, and extemal factors. Quantitative risk metrics are used to assess the likelihoc%l and impact of key risks, supporting dala-driven decision-making and continuous improvement. Governance risks, such as trustee recrLErtment and succession planning, are managed through robust recruitment, induction. and board development processes. Operational risks, including contract perfomiance, staffing capacity, and service complexty, are addressed through regular reviews, audits, and strategic workforce planning. Financial risks, such as housing benefrt shortfalls, income volatilty, and cash flow pressures are miligaled through strong financial oversight, rent modelling. and income diversification. Exlemal and environmental risks, induding inflation, political uncertainty, and rrsing costs, are monitored through forecasting, fixed uts'lity contracts. and projecl-specffic controls. Reputstional risks are managed through proactive communication. media protocols, and strong community relation5hip5. Cybersecurity threats are addressed through certtfied systems, staff training, and robust IT infra51ructure. Compliance wtth legal and regulatory requirements is ensured through clear procedures, ongoing staff training, and oversight by the Board and Senior Management Team. All risks are regularly reviewed by the Board of Trustees and relevant committees to ensure effective oversight, accountabilty, and timely response. This includes scheduled reviews aligned with board and committee meetings, as well as dynamic assessments in iesponse to emerging Issues or changes in the external environment. The review pioce55 enables Ihe organi5ation to evaluate the effectiveness of existing controls, idenbfy new or evolving risks, and implement appropriate mf(igation slralegies. Through this stnjctured and proactive approach, the Board ensures that risk management remains an integral part of strategic decision-making and operational delivery. Related Parties & Connected Organisations At every meeting, Trustees are asked lo declare any conflict of interest. Matt Andrews and Bill Monlague. who setved as Trustees during the year, are linked with the provision of setvices to Launchpad Reading, as Trustee5 of Reading Rotary Community Projects, a landlord of Launchpad Reading. Trustees are not involved in discussions or decisions in which they have a conflict of interest. Pay and remuneration of key management staff The remuneration of the CEO is agreed by the Board of Trustees and this is benchmarked against Similar organisations. The remuneration of senior management is sel by the CEO. This is benchmarked against similar-sized private, public and charity sector organisations. All staff are entitled to the same employment benefits. Statement of Trustees, Responsibilities The Trustees (who are also Directors of Launchpad Reading for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards {Uniled Kingdc￿n Generally Accepted Accounting PradJ"cel. Page 20 SkJn¥iurgTw¥¥#bn w.2mNP4C&>Z￿ 2025 15."3522 8STIUTC +11 DY5P 23M8 Company law requires the Trustees lo prepare financial statements for each financial year. Under company law the Trustees musl not approve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial stalemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial slalement5 on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Tnjslees are responsible for keeping adequate accounting le￿rdS that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any time the financial position of the charitable company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITOR Each of the persons who are Trustees at the time when this TNstees' report is approved has confimied that.. so far as that Trustee is aware, there is no ielevant audit information of which the charitable company's auditor is Ur￿are, and that Trustee has taken all the steps that ought to have been tsken as a Trustee in order to be aware of any relevant audit information and lo establish that the charitable company's auditor is aware of that infomalion. This report was approved by the Tru51ee5 on 14 August 2025and signed on their behalf by.. H PirrfL Hannah Powell Chair of Trustees Page 21 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P24M8 LAUNCHPAD READING (A company limited by guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF LAUNCHPAD READING Opinion We have audited the financial statements of Launchpad Reading (the 'parent charitable companll and its subsidiaries (the 'group'l for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activitie5, the Consolidated Balance Shee( the Charity Balance Sheet, the Con501idated Slalement of Cash Flow5 and the related note5. inGluding a sumniary of 5igntfiGant aGGounting polirAe5. The finanGial reporting framework that has been applied in their preparation is applicable law and United lfjngdom Ac(x)unling Stsndards, including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= give a true and fair view of the state of the Group's and of the parent charitable compan￿9 affairs as at 31 March 2025 and of the Group's incoming rescmJr￿S and application of resources, including its income and expenditure for the year then ended" have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wrth the requirements of the Charities Act 2011. Basis for opinion We conducted our audrt in accordance with International Standards on Auditing {UKI {ISAs IUKI} and applicable law. Our responsibilities under those standards are further described in the Audrtors. responsibilities for the audit of the financial 5tatement5 section of our report. We are independenl of the Group in accordance V￿th the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom. including the Financial Reporting Council's Ethical Standard, we have fulfilled our other ethical responsibilib.es in accordance Mqth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements. we have concluded that the Trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the Group's or the parent charitable companls ability lo continue as a going concem for a period of at least ￿efve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the Trustees respec* to going concem are described in the relevant sections of this repJrL Page 22 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P25M8 LAUNCHPAD READING (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LAUNCHPAD READING (CONTINUED) Other information The other infom)alion comprises the infom)ation included in the Annual Report other than the financial statements and our Auditors. Report thereon. The Trustees are responsible for the other information ¢(￿laIned within the Annual Report. Our opinion on the financial statements doe5 not cover the other infomiation and. eKGept lo the extent otherwise expliGitIy stated in our report. we do not express any fomi of a55uranGe GQnGIu5ion thereon. Our responsibility is lo read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statement5 OT our knowledge obtained in the ￿Urse of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencie5 or apparent material mis51atements, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion.. the infomiation given in the Trustees, Report is inconsistent in any material respect wth the financial statements., or the parent charitable (xjrnpany has not kept surri￿e[rt accDUnting records" or the parent charitable company financial statements are not in agreement with the accounting records and retums., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees. Reswnsibililies Statement, the Truslees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied thal they give a true and fair view. and for such intemal control as the Trustees detemine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statement5, the Trustees are responsible for a55e5sing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related lo going concem and ¥Jsing the going concem basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic altemative but to do so. Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made OT having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whether due to fraud or error. and lo issue an Auditors. Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordan￿ ISAS (UK) will a￿yS detect a material misstatement when it exist5. Mi551atements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Page 23 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P26M8 LAUNCHPAD READING (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LAUNCHPAD READING (CONTINUED) Because of the inherent limitations of an audit, there is a risk that we Mqll not detect all irregularities, induding those leading to a malersal misstatement in the financial statements or non-compliance wth regulation. This risk increases 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 like5y to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error. as fraud involves intentional concealment. forgery. collusion. omission or misrepresentation. The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularitie5, including fraud. were as follows.. Enquiry of management and those charged govemance around actual and potential litigation and Enquiry of management and those charged wth govemance to identify any material instances of non compliance with laws and regulations- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations., Performing audit WOTk to address the risk of irregularities due lo management override of controls, induding testing of joumal entries and other adjustments for appropriatenes5, evaluating the business rationale of signffjicant transactions outside the nomial course of business and reviewing accounting estimates for evidence of bias. A further description of our responsibiltbes for the audit of the financial statements 15 located on the Financial Reporting CoLFncil's website at.. W￿w.frc.o -uklaudilorsres nsibilities. This description fomis part of our Auditors, Report. Use of our report This report is made solely lo the charitable compan￿$ members, as a bo(ty. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charitable companls members those matters we are required lo stale to them in an Auditors. Report and for no other purpose. To the fullest extent pem)itted by law. we do not accept or assume responsibility to anyone other than the Charitable company and its members. as a body, for our audit work. for this report. or for the opinions we have formed. James Cowper Kroston Audit Chartered Accountants and sts￿tOry Auditor Reading Bridge House George Street Reading Berkshire RG18LS Date= 18 August 2025 James Cowper Krest(m Audit are eligible to act as auditors in tems of section 1212 of the Companies Acl 2006. Page 24 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P27M8 LAUNCHPAD READING (A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANC￿ ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activities Other trading activÉbes InvestrrEnts 395.143 3.869,645 118,231 19,928 228.273 19.712 623,416 3,889,357 118,231 19,928 732,619 2,760,853 140,120 9,724 Total income 4.402.947 247.985 4.650,932 3,643.316 Expenditure on: Raising funds Charitable activities 100,718 3.988,363 100,718 4.204,129 93,366 3,421,334 215.766 Total oxpandiiura 4.089.081 215.766 4.304,847 3,514.700 Net movement in funds 313,866 32.219 346,085 128,616 Reconciliation of funds: Total funds brought forward Net movement in funds 6,877,308 313.866 73.989 32.219 6,951,297 346,085 6,822,681 128.616 Total funds carried forward 7.191.174 106,208 7.297,382 6,951.297 The Con501idated Statement of Finanaal Activitie5 indudes all gains and Ios5e5 recognised in the year. The note5 on pages 11 to 27 form part of these finanual statements. Page 25 VkiuaBunatLYeTrarffjxlv)n Ref. 2MNP4C6G-Z4ZW 14Aup2025 15..35..22 BST (UTC +110 5fS P28M8 LAUNCHPAD READING (A company limited by guarantee) REGISTERED NUMBER.. 1459149 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets Current assets 7,943.337 7,845,496 Debtors 13 331,741 1,212,450 281,308 1,120,789 Cash at bank and in hand 1,544,191 1,402.097 Current liabilities Creditors.. amounts falling due wthin one year 14 {638,2421 1472,0171 Nei currant assets 905.949 930,080 Total assets18ss current liabiliti8s 8,849.286 8,775,576 Creditors.. amounts falling due after more than one year 15 11,551,904) {1,824,2791 Total net assets 7,297,382 6,951,297 Charity funds Restricted funds 16 106.208 7,191.174 73,989 6.877,308 Unrestricted fvnds 16 Total funds 7,297.382 6,951,297 The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance wth section 476 of the Companies Act 2006. However, an audit is required in accordance with section 152 of the Charities Act 2011. The Trustees a¢knO￿edge their responsibilities for complwng wth the requirements of the Act respect to accounting records and preparation of financial statements. The financial Statements have been prepared in accordance wth the provision5 applicable to enttties Subject to the small companie5 regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Hannah Powell (Chair) Date= 14 August 2025 The notes on pages 11 to 27 forni part of these financial statements. Page 26 VkiuaBunatLYeTrarffjxlv)n Ref. 2MNP4C6G-Z4ZW 14Aup2025 15..35..22 BST (UTC +110 5fS P29M8 LAUNCHPAD READING (A company limited by guarantee) REGISTERED NUMBER.. 1459149 CHARITY BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets Investments 7,943.337 1.000 7,845,496 1,000 12 7,944,337 7,846,496 Current assets Debtors 13 333,267 1,209,923 642.486 758,611 Cash at bank and in hand 1,543,190 1,401,097 Current liabilities Creditors.. amounts falling due within one year 14 1638,2411 1472.0171 Net current assets 904.949 929,080 Total assets less current liabilities 8,849,286 8,775,576 Creditors.. amounts falling due after more than one year 15 11,551.904) {1,824,279) Total net assats 7,297.382 6,951,297 Charity funds Reslricled funds unresth.cted funds 16 16 106,208 7,191,174 73,989 6,877,308 Total funds 7,297,382 6,951,297 The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance Mqth sectton 476 of the Companies Act 2006. However, an audit is required in accordance with section 152 of the Charities Act 2011. The Trustees acknovledge their responsibilities for complwng with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in a￿rdance wth the provisions applicable to entities subject to the small companies regime. ncial s ments were approved and authorised for issue by the Trustees and signed on their behalf by.. Hannah Powell (Chair) Dale= 14 August 2025 Page 27 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P30M8 LAUNCHPAD READING (A company limited by guarantee) REGISTERED NUMBER: 1459149 CHARITY BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2025 The note5 on pages 11 to 27 fomi part of these finanual statements. Page 28 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P31M8 LAUNCHPAD READING (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Noi8 Cash flows from operating activitios Nel cash used in operating activities 19 678,396 525,391 Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets 19,928 9,724 (352.908) {1.245.791) Net cash used in investing activities 1332.980) {1.236,0671 Cash flows from financing activities New borrowing Repayments of borrowng 435.704 (689,459) 505,750 169,711) Net cash {used inllprovided by financing activities 1253,755) 436,039 Change in Gash and Gash equivalents in the year Cash and cash equivalents at the beginning of the year 91.661 1274,6371 1,395,426 1,120,789 Cash and cash equivalents at the end of the year 20 1,212,450 1,120,789 The notes on pages 11 to 27 fomi part of these financial statements Page 29 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P32148 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting polieies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2019}, the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Launchpad Reading meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othetwise slated in the relevant aCC￿ntIng policy. The Consolidated Statement of Finartcial Activities (SOFA} and Consolidated Balance Sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has r￿t presented its own Statement of Financial Activities in these finan￿al ststements. 1.2 Company status The charity is a (xjmpany limited by guarantee. The members of the ￿MpanY are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. 1.3 Fund accounting General funds are unrestricted funds Nthich are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and ￿1¢h have not been designated for other purposes. Designated funds comprise unrestricted funds that have been Sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are fvnds which are to be used in accordance with specific restrictÈon$ imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the SFecific fvnd. The aim and use of each restricled fund is set out in the notes lo the financial slalemenls. 1.4 Income All income is recognised once the charity has entiuement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Page 30 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P3 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting polieies {continuodl 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefft to a third party, it 15 probable thal a transfer of eGOllOtniG benefits will be required in 5ettletnent and the amounl of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared cost5 which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned betrween those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciab.on charges allocated on the porb.on of the assefs use. Support costs are Ih)se costs incurred directly in support of expenditure on the objects of the tharity. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in activities that raise funds. Charitable activities are costs incurred on the charitys operations. including support costs and costs relating lo the govemance of the charity. Expenditure on raising funds includes ai expenditure incurred by the Group to raise funds for its charitable purposes and includes costs ol all fundraising activities events and non-charitable trading. Expenditure on charitable activities is In￿rred on directly undertaking the activities Nthid) further the Group's objectives, as well as any assoctated support costs. 1.6 Basis of consolidation The finanual statements consolidate the accounts of Launchpad Reading and all of its subsidiary undertakings I'subsidiaries'}. The results of subsidiaries acquired during the year are included from the effective date of acquisitson. The charity has taken advantage of the exemption contained within Sectic￿ 408 of the Companies Act 2006 not to present its own Income and Expenditure Account. The income and expenditure account for the year dealt with in the accounts of the charity was £346,08512024- £128.6161. 1.7 Tangiblo fixed a558ts and deprèciation Tangible fixed assets costing £1,000 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Ml costs incU￿ed to bring a tangible fixed asset into its intended working condition are induded in the measurement of cost. Page 31 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P34M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting polieies {continuodl 1.7 Tangible fixed assets and depreciation {cominued) Depreciation is charged so as to allocatè the c05t of tangible fixed assets less their residual value over their estimated useful live5. Using the 5traight4ine method. Depreciation is provided on the following bases-. Freehold property Short-temi leasehold property Motor vehicles and general equipment 20A straight line. Land is not depreciated. Over the temi of the lease 20% straight line 20%_33.3tyA straight line 1.8 Investments Investments in subsidiaries are valued at cost less provision for impairment. 1.9 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.10 Cash at bank and in hand Cash at bank and in hand indudes cash and sl)ort-temi highly liquid investments wth a short maturity of three mnths or less from the date of acquisition or opening of the dewsit or similar account. 1.11 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement, and the amount of the settlement can be estimated reliably. 1.12 Pensions The Group operates a defined contribution pension scheme and the ￿nSIOn charge represents the amounts payable by the Group lo the fund in respect of the year. Page 32 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P35M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Judgements in applying accounting policies and key sourcas of estimation The preparation of the financial statements wuires managemenl to make estimates and assumptions that affect the amounts reported for assets and liabilitses as at the balance sheet dale and the amounts reported for revenues and expenses during th? year. However. the nature of estimation means that actual outcomes could differ from those estimate5. The following have h*1 the most significant effect on amounts recognised in the financial statements. Tangible fixed assets {note 111 Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the asset and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining lrfe of the asset and projeded disposal values. Bad debts (note 13) A provision is made against speafic debtors based on the age of the debt and an assessment of recoverability. Income from donations and legacies Unrestricted Restricted funds funds Total funds Total funds 2025 2025 2025 2024 Donations Grants 233.211 51.500 110.432 233,211 279,773 110.432 235,350 357.553 139,716 228.273 Fundraising general 395,143 228,273 623,416 732,619 Total 2024 458,066 274,$53 732,619 Income from charitable activitios Unr8strict8d funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Housing & 5UPPOrt Addf(ional support services 3,869,645 3.869,645 19.712 2,749,083 11.770 19.712 3,869,645 19,712 3.889.357 2,760,853 Total 2024 2,749,083 11,770 2,760,853 Page 33 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P36M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Other trading aciiviiies Unrestri¢ted funds 2025 Total funds 2025 Total funds 2024 Commercial rents 116,917 1,314 116.917 1.314 138,073 2.047 Other income 118,231 118.231 140,120 Total 2024 140,120 140,120 Expenditur8 on raising funds Unrestrictod funds 2025 Total funds 2025 Total funds 2024 Events and activitie5 19,625 63,430 17.663 19.625 63.430 17.663 18,572 58.882 15.912 Stsff costs Other staff costs 100,718 100,718 93,366 Total 2024 93,366 93,366 Page 34 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P37M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of oxpondiiure by activities Activitias undertaken directly 2025 Support Costs Total funds 2025 Total funds 2024 2025 Housing & support Addf(ional support services 3,456,159 232,245 481,507 34,218 3.937.666 266.463 3,120,979 300.355 3,688,404 515,725 4,204,129 3,421,334 Total 2024 2,940,420 480,914 3,421,334 Analysis of direct costs Additional support services Housing & support 2025 Total funds 2025 Total funds 2024 2025 staff costs 1,834,967 129,997 1,106,599 366,040 18,556 128,438 54,083 1.963,405 184,080 1,106,599 366,040 68.280 1.623,185 181,950 980,121 81,469 73.695 Depreaation Propety costs Other staff costs Activities 49,724 3,456,159 232,245 3,688.404 2,940.420 Total 2024 2,681,004 259,416 2,940,420 Page 35 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P38M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of oxponditure by activities (continued) Analysis of support costs Additional support s&r4iees 2025 Housing & support 2025 Total funds 2025 Total funds 2024 Depreciation Premises & office costs Other staff costs 70,988 363,582 9.046 2,566 19,418 15,907 70.988 397.800 9.046 2.566 19.418 15,907 76,392 338.473 13.884 9,332 28,020 14,813 34,218 Bank charges & other fees other costs Governance costs 481,507 34,218 515.725 480,914 Total 2024 439,975 40,939 480,914 Auditors. romun8ration 2025 2024 Fees payable to the chariws auditor for the a￿lIt of the chanws annual accounts 11.450 10.850 Fees payable to the charitys auditor in respect of: Al nork-audit services not included above 3.810 3,580 Page 36 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P3 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Staff costs Group 2025 Group 2024 Company 2025 Ccmpany 2024 Wages and salaries Social security costs Pension costs 1,758,888 168,835 116,775 1,442.259 135,705 104,103 1,758,888 168.835 116.775 1.442,259 135.705 104.103 2.044,498 1,682,067 2,044.498 1,682,067 The average number of persons employed by the charity during the year was as follows.. Group 2025 No. Group 2024 No. Chief ExecutNe Service Delivery for Clients Finance & Administration Fundraising 46 35 59 48 The average headcount expressed as full-lime equivalents was.. Group 2025 No. Group 2024 No. Chief Executwe Service Delivery for Clients Finan￿ & Administration 41 32 Fundraising 52 44 The number of employees wlKJse employee benefits {excluding employer ￿nsiOn costs} exceeded £60,000 was.. Group 2025 Group 2024 In the band £60,001- £70,000 In the band £70,001- £80,000 The remuneralicn and benefits received by key management personnel in the year totalled £347,038 {2024 - £383.446}. Page 37 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P40M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Trustees. remuneration and expanses During the year, no Trustees received any remuneration or other benefits {2024- £NIL}. During the year ended 31 March 2025, expenses totalling £NIL were reimbursed or paid diredy to Trustees12024- £NILI. 11. Tangible fixed assets Group and Company Freohold Leasehold property proporty Motor vehicles Office oquipmant Total Cost or valuation At 1 April 2024 Additions ,776,347 331,325 177,208 63,573 474,378 21,583 138.3261 9,491,506 352,908 {38,3261 Disposals At 31 March 2025 9.107.672 177.208 63.573 457.635 9.806.088 Doprociation At 1 April 2024 Charge for the year On disposals 1.012.309 204.934 177.208 49.181 4.797 407.312 45.336 138,3261 1.646.010 255,067 138,3261 At 31 March 2025 1,217,243 177,208 53,978 414,322 1,862,751 Net book value At 31 March 2025 7.890.429 9.595 43.313 7.943.337 At 31 March 2024 7.764.038 14,392 67,066 7.845,496 Page 38 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P41M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Fixed asset investments Investments in subsldlary companies charity Cost or valuation At 1 April 2024 1.000 At 31 March 2025 1.000 Net book value At 31 March 2025 1,000 At 31 March 2024 1,000 13. Debtors Group 2025 Group 2024 Company 2025 Company 2024 Due within on8 year Trade debtors Amounts owed by group undertakings other debtors 85,351 70.401 75.751 11.126 11,932 234,458 61.382 370.197 8,442 202,46S 11,932 234,458 8,442 202,465 Prepayments and accrued income 331,741 281.308 333,267 642,486 Page 39 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P42148 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Craditors: Amounts falling due wilhin one year Group 2025 Group 2024 Company 2025 Ccmpany 2024 Bank loans 110,539 222,384 95,972 22,806 186,541 91,920 193,798 62,859 14,745 108,695 110,539 222.384 95.972 22.806 186.540 91,920 193,798 62.859 14.745 108.695 Trade creditors Other tsxalion and social security Other creditC￿5 AccNals and deferred income 638,242 472,017 638,241 472,017 Group 2025 Group 2024 Company 2025 Cc*npany 2024 Deferred income at 1 April 2024 Resources deferred during the year Amounts released from previous periods 12,667 36,667 {1?,6671 15,667 12,667 115,6671 12.667 36,667 112,667) 15,667 12,667 11 S.667) 36,667 12,667 36.667 12,667 Loan5 are secured against the freehold properties of the charity to which they relate. 15. Creditors: Amounts falling due after more than one year Group 2025 Group 2024 Company 2025 Company 2024 Bank loans 1,551,904 1,824.279 1,551.904 1.824,279 Loans are secured against the freehold properbes of the charity to which they relate. Page 40 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P43M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. stsiemeni of funds Staiement of funds - Current year Balance at 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Expenditur8 Unrestricted funds Designated funds Designated Funds- all funds 560.743 (57.418) (162.765) 340.560 Gen8ral funds General Funds- all funds 6.316,565 4,402,947 14,031,663) 162,765 6.850,614 Total Unrestricted funds 6.877,308 4,402,947 14,089.081) 7.191.174 Restricted funds WoTk and Life Skills 28,686 5.871 23.347 146,524 44,350 (171,243) (18.214) (15.18n 3.967 32.007 15.271 Client Wellbeing Funds Volunteering Resettlement & Move On Funds 16,085 (11.122) 4,963 50,000 other funds 50,000 73,989 247,985 (215.766) 106,208 Total of funds 6.951,297 4,650,932 14,304,84n 7.297,382 Page 41 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P44M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. stsiemeni of funds {continuad) Staiement of funds - prior year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds Designated funds Designated Funds- all funds 1.305,100 158.2731 (686.0841 560.743 Gen8ral funds General Funds- all funds 5,442,441 3,356,993 13,206,399) 723,S30 6,316,56S Total Unrestricted funds 6.747,541 3,356,993 13,264,672) 37,H6 6.877.308 Restricted funds Work and Life Skills Client Wellbeing Funds Volunteering Resettlement & Move On Fund5 36.￿8 16,741 158,765 55,838 27.968 1166,0871 166,7081 14.6211 28,686 5,871 23.347 22.391 16.3061 16,3061 16.085 Other funds 43.752 137,4461 75,140 286,323 (250.0281 137,4461 73,989 Total of funds 6.822.681 3,643,316 13,514,700) 6,951,297 Page 42 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P45M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Summary offunds Summary of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Expenditur8 Designated funds General fvnds Restricted funds 560.743 6.316,565 73,989 (57,418) 4.402,947 14,031.663) 247,985 (215,766) (162.765} 162,765 340,560 6.850,614 106,208 6.951,297 4,650,932 14,304,84n 7,297.382 Summary of funds - prior year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Designated funds General funds 1.305.100 5.442,441 75,140 158,2731 1686,0841 13,206,399) 723.530 (250,0281 137,4461 560,743 6,316,565 73.989 3,356,993 286,323 Reslricled funds 6,822,681 3,643,316 13,514,700) 6,951,297 Designated funds include £150,C￿oI2O24= £300.0001 for the development and maintenance of properties. Other designations include £190,560 12024= £260.7431 for the development and delivery of seNices and ongoing investment in assets such as IT, for which no third-paty funding is currently secured. Restricted funds relate to the followng.. Work and Life Ski115 Various grants to provide and develop training and education to assist dients in retuming to work and develop lrfe skills. Some of these grants have specific restrictions relating to a particular ackn.vity e.g. budgetsng, art etc. Launchpad 135 continues to be supported by a >year restricted grant from the National Lottery Community Fund IRC London and South East Region programmel. Client Wellbeing Various granls lo support the physical. mentsl, psychological. emolic(¢al and social wellbeing of dienls. Including access to a housing so11￿10r and additional seNices to help &ldress anti-so(aal behaviour issues which may put housing at risk. Volunteering Various grants to suppjrt the role of volunteers throughout the organisation. Some of these grants have specific restriction5 relating to e.g. the costs associated Mqth providing the counselling service for clients. Resettlement & Move On Various grants to support the resettlement and MoV￿n of Launchpad clients into independent living, including access *0 Launchpad's removals service. Page 43 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P46M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Analysis of nei assets between funds Analysis of net assats betwaan funds- currant year Unrestricied R6siriCted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets 7,943,337 1,437,983 (638,2421 11.551,9041 7,943.337 1,544.191 1638.2421 {1.551.9041 106.208 Creditors due within one year Creditors due in more than one year Total 7,191,174 106,208 7.297,382 Analysis of net assats between fun(ts - prior year Unre51ricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Current assets 7,845,496 1,328,108 (472,0171 11,824,279) 7,845,496 1,402.097 1472.017) {1,824,279) 73.989 Creditors due wthin one year Creditors due in more than one year Total 6,877,308 73,989 6,951,297 19. Reconciliation of net movement in funds to net cash flow from operating activities Group 2025 Group 2024 Net income for the year las per Statement of Financial Actiwties) 346.085 128,616 Adjustments for: Depreciation charges Dividends, interests and rents from investments Decreasel{increasel in debtors Increase in creditors 255.067 119,928} 150,433} 147.605 258.342 (9,724) 70,079 78,078 Net cash provided by operating activities 678,396 525,391 Page 44 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P47M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Analysis of cash and cash equivalants Group 2025 Group 2024 Cash In hand 1,212,450 1,120,789 Total cash and cash equivalents 1,212,450 1,120,789 21. Analysis of changos in not debt At 1 April 2024 Cash flows Al 31 March 2025 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 1,120.789 191,920) 11,824.279) 91,661 1.212,450 118,619) 1110,5391 272,375 {1,551,9041 (795.410) 345.417 1449.9931 Oparatingloase commitments At 31 March 2025 the Group and the charity had commitments to make fijture minimum lease payTnents under nOn-Can￿lIable operating leases as follows= Group 2025 Group 2024 Company 2025 Company 2024 Not later than 1 year Later than 1 year and not later than 5 years 394,574 727,410 363,274 439,251 394.574 727.410 363.274 439.251 1.121,984 802,525 1,121.984 802,525 23. Rolated party transactions The total payments for seNices or goods made lo organisalions connected to Launchpad Reading trustees during the period wa5 £43,009 {2024 £38,541). The organisation paid was Reading Rotary Community Projects £43.00912024 - £38.5411 for rent. Al activities wth connected organisations were carrred out on an arms length basis in the nomial course of actiwties. Page 45 VrbJJkgunJturvTrarffjxbcn Ref. 2MNP4C6G-Z4ZW 14 2025 15..35..t2 BST (UTC +11 P48M8 LAUNCHPAD READING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 24. Principal subsidiarios The followng was a subsidiary undertaking of the charity. Nam8 Company Registered offica or Class of Holding number principal place of business shares In¢luded in consolidalion Launchpad Reading 11162563 The Stables. Merchants Place, Ordinary Services Limited Reading RG11 DT 100% Yes The financial results of the subsidiary for the year were: Name Income Expenditure Net assets Launchpad Reading Services knmited 1.303.OIXI 1,303.000 1.000 Page 46