2021-03-31-accounts

Report ofthe Trustees
Report of the Independent Auditors to the Members	of Business
Launchpad Limited
Consolidated Statement of Financial Activities		21
Consolidated Balance Sheet		22
Parent Charity Balance Sheet		23
Consolidated Statement of Cashflows		24
Notes to the Financial Statements		25

			for the Ye	ar Ended	31 March	2021
				2021			2020
			Unrestricted funds	Restricted funds	Total	Unrestricted funds	Restricted funds
		Note	E	E	E	f		E
Income and endowments
from:
Investments			8		8	31		31
Charitable activities			2,073	112,000	114,073	3,984	32,216	36,200
Government grant	—CJRS		31,424		31,424
Other trading activities			1,080,546		1,080,546	1,126,581		1,126,581
Total income and endowments			1,114,051	112,000	1,226,051	1,130,596	32,216	1,162,812
Expenditure on:
Chaditable activities			286,983	120,258	407,241	377,275	44,465	421,740
Other trading activities			709,905		709,905	714,353		714,353
Total expenditure			996,888	120,258	1,117,146	1,091,628	44,465	1,136,093
Net income I(expenditure)			117,163	(8,258)	108,905	38,968	(12,249)	26,719
Other recognised	gains i
(losses)
Unrealised surplus	on
revaluation oftangible fixed			2,150,000		2,150,000
assets
Transfers between	funds
Net movement in	funds	19	2,267,163	(8,258)	2,258,905	38,968	(12,249)	26,719
Reconciliation of	funds:
Total funds brought	forward	19	3,066,173	56,048	3,122,221	3,027,205	68,297	3,095,502
Total funds carried forward		19	5,333,336	47,790	5,381,126	3,066,173	56,048	3,122,221

				2021	2020
			Note	f
Fixed assets
Tangible assets			12	6,096,000	3,963,541
				6,096,000	3,963,541
Current assets
Debtors			14	121,822	89,692
Cash at bank and in	hand			315,720	140,884
				437,542	230,576
Creditors: amounts	falling	due within one year	15	(589,363)	(433,622)
Net current assets I(liabilities)				(151,821)	(203,046)
Total assets less current		liabilities		5,944,179	3,760,495
Creditors: amounts	falling	due after more than one year	16	(216,956)	(280,720)
Government grants			17	(346,097)	(357,554)
Net assets I(liabilities)				5,381,126	3,122,221
Charity Funds
Unrestricted funds			19	5,333,336	3,066,173
Restricted funds			19	47,790	56,048
Total charity funds	I(deficit)		19	5,381,126	3,122,221

				2021	2020
			Note	F
Fixed assets
Tangible assets			12	1,375	4,249
Investments			13	2	2
				1,377	4,251
Current assets
Debtors			14	969,738	858,147
Cash at bank and	in	hand		18,858	19,196
				988,596	877,343
Creditors: amounts		falling due within one year	15	(26,611)	(21,172)
Net current assets I(liabilities)				961,985	856,171
Total assets less	current liabilities			963,362	860,422
Net assets I(liabilities)				963,362	860,422
Charity Funds
Unrestricted funds			19	915,572	804,374
Restricted funds			19	47,790	56,048
Total charity funds		I(deficit)	19	963,362	860,422

			2021	2020
			E
Cash flows from operating	activities
Net incoming resources			108,905	26,719
Depreciation			58,401	63,264
Government grant amortisation			(11,457)	(11,457)
Government grants received	- CJRS		(31,424)
Interest paid			(3,422)	(8,892)
Decrease / (increase) in debtors			(32,130)	(21,657)
Increase / (decrease) in creditors			32,207	27,825
Net cash from operating activities			121,080	75,802
Cash flows from investing	activities
Purchase oftangible fixed assets			(40,858)	(21,627)
Government grants received	- CJRS		31,424
Net cash from investing activities			(9,434)	(21,627)
Cash flows from financing	activities
New bank loans			50,000
Repayment of bank loans			9,788	(77,238)
Interest paid			3,422	8,892
Net cash from financing activities			63,190	(68,346)
(Decrease)/increase in cash and cash equivalents			174,835	(14,171)
Cash and cash equivalents	at beginning	ofyear	140,884	155,055
Cash and cash equivalents	at end ofyear		315,220	140,884

useful life. The depre	useful life. The depre	ciation rate	s in use by the group ar	e as follows:
Office furniture and		equipment	-25%or 33%straight	line or 25% reducing
			balance
Leasehold	improvements		-20% or40% straight	line
Long-term	leasehold	property	- Not depreciated

NCOME FROM CHAR	ITABLE	ACTIV	ITIES
				2021 F	2020f
Grants receivable —Unrestricted		funds		2,073	3,984
Grants receivable —Restricted		funds		112,000	32,216
				114,073	36,200
INCOME FROM OTHER TRADING ACTIVITIES
				2021f	2020f
Unrestricted funds.
Licence fees, hire charges and		service	agreements	17,459	48,202
Provision ofworkspace				1 063087	1,078,378
				1 080,546	1,126,581
EXPENDITURE ON CHARITABLE ACTIVITIES
				2021f	2020 f
Unrestricted funds
Staff costs (Note 9)				256,378	293,809
Young people training	and community		events	6,831	46,111
Grants to young entrepreneurs Other support costs				23774	2,001 33,354
				286,983	377,275
Restricted funds
Staff costs (Note 9)				47,017	22,950
Young people training	and community		events	64,040	14,243
Grants to young entrepreneurs				9,201	7,272
Other support costs
				120,258	44,465
				407,241	421,740

EXPENDIT	URE ON OTHER TRADING	ACTIVITIES
		2021	2020
		E
Unrestricted	funds
Staff costs	(note 10)	309,055	310,167
Support costs		400,850	404,186
		709,905	714,353

STAFF	COSTS
			2021	2020
			E	F.
Salaries,	wages and freelance		533,232	560,504
National	insurance		48,583	51,569
Pension	costs		10,313	10,191
Training	and recruitment	fees	20,342	8,050
			612,450	630,314

The average follows:	monthly	number ofemployees ofthe	group during the year	was as
			2021	2020
Management	and administration		4	4
Workspace	provision	and counselling	18	17
			22	21

			2021 F	2020f
Auditors' remuneration			9,327	8,790
Depreciation	oftangible	fixed assets	58,401	63,264
Interest on Amortisation	bank loans and overdrafts of Government Grant		3,422 ~11457	8,892 ~I1,457

	Long- term leasehold	Leasehold improvements	Office furniture and equipment	Office furniture and equipment	Total
	F
Cost or valuation:
At 1 April 2020	3,845,000	148,519		431,063	4,424,582
Additions		28,082		12,776	40,858
Disposals
Revaluation	2,150,000				2,150,000
At 31 March 2021	5,995,000	176,601		433,839	6,615,440
Depreciation:
At 1 April 2020		76,374		384,667	461,041
Charge for the year		27,732		30,668	58,401
Impairment
Revaluation
At 31 March 2021		104,106		415,335	519,442
Net book value:
At 31 March 2021	5,995,000	72,495		28,504	6,096,000
At 31 March 2020	3,845,000	72,145		46,396	3,963,541

Cost or valuation at 31 March 2021 is as follows:
	Long-term
	leasehold
	property
	E
At cost
At valuation:
October 2021 existing use basis	5,995,000
	5,995,000

have been included under the h	istorical cost convention as follows:
	2021 f	2020
Cost	1,784,138	1,784,138
	1,784,138	1,784,138

Charity
	Plant and
	machinery	Totalf
Cost or valuation
At 1 April 2020	9,479	9,479
Additions
At 31 March 2021	9,479	9,479
Depreciation
At 1 April 2020	5,230	5,230
Charge for the year	2,874	2,874
At 31 March 2021	8,104	8,104
Net book value:
At 31 March 2021	1,375	4,249
At 31 March 2020	4,249	4,249

			Group	Group	Charity	Charity
			2021	2020	2021	2020
				E	E	E
Trade debtors			97,751	65,463	7,408	3,405
Amounts	owed by group undertakings				981,424	852,895
Prepayments		and accrued income	24,071	24,229	908	1,847
			121,822	89,692	989738	858,147

		Group	Group	Charity	Charity
		2021	2020	2021	2020
		K	6	F	6
Bank loans and overdrafts		78,665	74733
Other loans		119,600
Trade creditors		22,615	1g742	2,374	2,658
Other tax and social security		84,933	46 g55	15,100	13,114
Other creditors		125,146	124,813	2,300	2,400
Accruals and deferred	income	158,404	167,379	6,837	3,000
		589363	433,622	26,611	21,172

		Group		Charity
		2021	2020	2021	2020
		E	6	F	F
Bank	loans	216,956	161,120
Other	loans		119,600
		216,956	280,720

19. FUNDS ANA	LYSIS
Group		Balance at 1 April 2020	Income	Revaluation	Expenditure	Balance at 31 March 2021
						E
Unrestricted funds
General funds		3,066,173	1,114,051	2,150,000	(996,888)	5,333,336
Restricted funds
Capital expenditure		54,848			(8,258)	46,590
Walcot Foundation	- Develop
Your Side Hustle			12,866		(12,866)
CityBridge Trust - Build Your Side
Hustle			30,532		(30,532)
Positive Futures Fund-
Summer's Not Cancelled			13,866		(13,866)
The National Lottery - Hustle
Hard			44,800		(44,800)
Be Fit4 Life/Elevate			9,936		(9,936)
Positive Futures Fund		400				400
Nat West Youth Markets		800				800
		56,048	112,000	2,150,000	120,258	47790
		3,122,221	1,226,051	2,150,000	(1,117,146)	5,381,126

			Balance			Balance at	Balance at
			at 1 April			31 March
			2020	Income	Expenditure	2020
			E	E		E
Unrestricted funds
General funds			804,374	398,181	(286,983)	915,572
Restricted funds
Capital expenditure			54,848		(8,258)	46,590
Walcot Foundation		- Develop
Your Side Hustle				12,866	(12,866)
CityBridge Trust	- Build Your Side
Hustle				30,532	(30,532)
Positive Futures	Fund—
Summer's Not Cancelled				13,866	(13,866)
The National Lottery - Hustle
Hard				44,800	(44,800)
Be Fit4 Life/Elevate				9,936	(9,936)
Positive Futures	Fund		400				400
Nat West Youth Markets			800				800
			56,048	112,000	120,258	47	790
			860,422	510,181	407,241	963,362

Group
	Unrestricted	Restricted	Total
	E	F	E
Tangible fixed assets	6,096,000		6,096,000
Other net assets/(liabilities)	(762,664)	47,790	(714,874)
	5,333,336	47,790	5,381,126

Charity
		Unrestricted	Restricted	Total
				f
Tangible	fixed assets	1,375		1,375
Other net	assets/(liabilities)	914,197	47,790	961,987
		915,572	47,790	963,362

A summary of	tradin	g re	sults is set out belo	w;-
					2021	2020
Turnover					1,063,087	1,078,379
Cost ofSales					(306,057)	(299,618)
Gross Profit					757,030	778,761
Other operating	income				42,881	11,457
Administration	expenses				(411,883)	(417,300)
Interest receivable
Interest payable					(17,063)	(22,533)
Net profit					370,965	350,385
Charitable payment		to Business Launchpad		Limited	(365,000)	(345,000)
Surplus/Deficit	retained		in subsidiary		5,965	5,385

				2021	2020
				E
Tangible fixed assets				6,094,624	3,959,292
Current assets				410,370	206,130
Current liabilities				(1,524,173)	(1,265,345)
Liabilities due after more	than	one year		(216,956)	(280,720)
Government grants deferred		income		(346,097)	(357,554)
Net assets				4,417,768	2,261,803
Share capital
Reserves:
Distributable				206,904	200,939
Un-distributable	(Revaluation		reserve)	4,210,862	2,060,862
Aggregate share capital	and	reserves		4,417,768	2,261,803