2022-03-31-accounts - Business Launchpad

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Report ofthe Trustees
Report ofthe Independent Auditors Launchpad Limited	to the Members ofBusiness		16
Consolidated Statement of Financial	Activities		21
Consolidated Balance Sheet			22
Parent Charity Balance Sheet			23
Consolidated Statement ofCashflows		24
Notes to the Financial Statements			25

				for the Ye	ar Ended	31 March	2022
					2022			2021
				Unrestricted funds	Restricted funds	Total	Unrestricted funds	Restricted funds	Total
			Note	6	5
Income and endowments
from:
Investments				1		1	8		8
Charitable activities				2,500	84,955	87,455	2,073	112,000	114,073
Government grant	—CJRS						31,424		31,424
Other trading activities			5	1,142,849		1,142,849	1,080,546		1,080,546
Total income and endowments				1,145,350	84,955	1,230,305	1,114,051	112,000	1,226,051
Expenditure on:
Charitable activities				337,032	90,621	427,653	286,983	120,258	407,241
Other trading activities				836,987		836,987	709,905		709,905
Total expenditure				1,174,019	90,621	1,264,640	996,888	120,258	1,117,146
Net Income i(expenditure)				(28,669)	(5,666)	(34,335)	117,163	(8,258)	108,905
Other recognised	gains	1
(losses)
Unrealised surplus	on
revaluation oftangible fixed							2,150,000		2,150,000
assets
Transfers between	funds			(11,376)	11,376
Net movement in	funds		19	(40,045)	5,710	(34,335)	2,267,163	(8,258)	2,258,905
Reconciliation of	funds:
Total funds brought	forward		19	5,333,336	47,790	5,381,126	3,066,173	56,048	3,122,221
Total funds carried forward			19	5,293,291	53,500	5,346,791	5,333,336	47,790	5,381,126

			At 31 Marc	h 2022
					2022	2021
				Note	F
Fixed assets
Tangible assets				12	6,069,140	6,096,000
					6,069,140	6,096,000
Current assets
Debtors				14	144,328	121,822
Cash at bank	and	in	hand		174,789	315,720
					319,117	437,542
Creditors: amounts			falling due within one year	15	(441,165)	(589,363)
Net current	assets		/ (liabilities)		(122,048)	(151,821)
Total assets	less	current liabilities			5,947,092	5,944,179
Creditors: amounts			falling due after more than one year	16	(150,048)	(216,956)
Government	grants			17	(450,253)	(346,097)
Net assets /	(liabilities)				5,346,791	5,381,126
Charity Funds
Unrestricted	funds			19	5,293,291	5,333,336
Restricted funds				19	53,500	47,790
Total charity	funds		/ (deficit)	19	5,346,791	5,381,126

							2022	2021
						Note	E
Fixed assets
Tangible assets						12	4,950	1,375
Investments						13	2	2
							4,952	1,377
Current assets
Debtors						14	965,892	969,738
Cash at bank	and	in	hand				15,221	18,858
							982,113	988,596
Creditors: amounts				falling	due within one year	15	(49,300)	(26,611)
Net current assets			/	(liabilities)			932,813	961,985
Total assets	less	current			liabilities		937,765	963,362
Net assets /	(liabilities)						937,765	963,362
Charity Funds
Unrestricted	funds					19	884,255	915,572
Restricted funds						19	53,500	47,790
Total charity	funds		/ (deficit)			19	937,755	963,362

		2022	2021
		F
Cash flows from operating activities
Net incoming resources		(34,335)	108,905
Depreciation		51,754	58,401
Government grant amortisation		(15,444)	(11,457)
Interest paid		(6,887)	(3,422)
Decrease / (increase) in debtors		(22,506)	(32,130)
Increase / (decrease) in creditors		(30,212)	32,207
Net cash from operating activities		(57,630)	121,080
Cash flows from investing activities
Purchase oftangible fixed assets		(24,895)	(40,858)
Net cash from investing activities		(24,895)	(9,434)
Cash flows from financing activities
New bank loans			50,000
Repayment of bank loans		(65,293)	9,768
Interest paid		6,887	3,422
Net cash from financing activities		(58,406)	63,190
(Decrease)/Increase in cash and cash equivalents		(140,931)	174,836
Cash and cash equivalents at beginning	ofyear	315,720	140,884
Cash and cash equivalents at end ofyear		174,789	315,720

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% or33%straight	line or 25% reducing
			balance
Leasehold	improvements		-20% or40% straight	line
Long-term	leasehold	property	- Not depreciated

4.	INCOME FROM CHARITABLE	INCOME FROM CHARITABLE	INCOME FROM CHARITABLE	ACTIVITIES	ACTIVITIES
						2022	2021
						8	F
	Grants receivable —Unrestricted			funds		2,500	2,073
	Grants receivable —Restricted			funds		84955	112000
						87,455	114,073
5.	INCOME FROII OTHER TRADING ACTIVITIES
						2022	2021
						E
	Unrestricted funds
	Licence fees, hire charges		and	service	agreements	1,400	17,459
	Other income					4,000
	Provision ofworkspace					1 137449	1,063,087
						1 142 849	1,080,546
8.	EXPENDITURE ON CHARITABLE ACTIVITIES
						2022	2021
						f
	Unrestricted funds
	Staff costs (Note 9)					246,699	256,378
	Young people training	and	community		events	25,889	6,831
	Grants to young entrepreneurs					4,845
	Legal fees					14,574
	Consultancy					10,500
	Other support costs					34525	23,774
						337,032	286,983
	Restricted funds'
	Staff costs (Note 9)					62,320	47,017
	Young people training	and	community		events	23,390	64,040
	Grants to young entrepreneurs					4,911	9,201
	Other support costs
						90,621	120,258
						427 653	407,241

EXPENDIT	URE ON OTHER TRADING	ACTIVITIES
		2022	2021
		E
Unrestricted	funds'
Staff costs	(note 10)	298,238	309,055
Support costs		838749	400,850
		838 987	709,905

STAFF	COS'TS
			2022	2021
			E	F
Salaries,	wages and freelance		531,934	544,586
National	insurance		52,229	52,040
Pension	costs		9,597	9,929
Training	and recruitment	fees	13497	20,342
			607,257	626,897

The average follows:	monthly	number ofemployees of the	group during the year	was as
			2022	2021
Management	and administration		4	4
Workspace	provision	and counselling	15	14
			19	18

			2022	2021
			E	F
Auditors' remuneration			12,088	9,327
Depreciation	oftangible	fixed assets	51,754	58,401
Interest on Amortisation	bank loans and overdrafts of Government Grant		6,887 ~15 444	3,422 ~11,457

	Long- term leasehold	Leasehold improvements	Office furniture and equipment	Total
	6
Cost or valuation:
At 1 April 2021	5,995,000	176,601	443,840	6,615,441
Additions		7,864	17,030	24,894
Disposals
At 31 March 2022	5,995,000	184,465	460,870	6,640,335
Depreciation:
At 1 April 2021		104,106	415,335	519,441
Charge for the year		29,228	22,526	51,754
Impairment
At 31 March 2022		133,334	437,861	571,195
Net book value:
At 31 March 2022	5,995,000	51,131	23,009	6,069,140
At 31 March 2021	5,995,000	72,495	28,505	6,096,000

Charity
	Plant and
	machinery	Total
		E
Cost or valuation
At 1 April 2021	9,479	9,479
Additions	5,400	5400
At 31 March 2022	14,879	14879
Depreciation
At 1 April 2021	8,104	8,104
Charge for the year	1,825	1,825
At 31 March 2022	9,929	9 929
Net book value:
At 31 March 2022	4,950	4950
At 31 March 2021	1,375	1,375

DEBTORS:	AMOUNTS FALLING DU	E WITHIN ONE YEAR	E WITHIN ONE YEAR
		Group		Charity
		2022	2021	2022	2021
			f	f
Trade debtors		67,335	97,751		7,406
Amounts owed by group undertakings				955,691	961,424
Other debtors		470		470
Prepayments	and accrued income	76,523	24,071	807	908
		144328	121,822	956,968	969,738

CREDITORS: AMOU	NTS FALLI	NG DUE WITHIN ONE YEAR	NG DUE WITHIN ONE YEAR
		Group		Charity
		2022	2021	2022	2021
		E	F	E	F.
Bank loans and overdrafts		85,017	78,665
Other loans			119,600
Trade creditors		51,057	22,615	26,264	2,374
Other tax and social security		40,569	84,933	12,008	15,100
Other creditors		98,951	125,146	3,818	2,300
Accruals and deferred	income	165,561	158,404	7210	6,837
		441,165	589,363	49,300	26,611

		Group		Charity
		2022	2021	2022	2021
		f
Bank	loans	150,048	216,956
		150045	216056

Group
						Balance
						at 31
	Balance at					INarch
	1	April 2021 f	Income	Expenditure F	Transfers	2022 F
Unrestricted
funds
General funds		5,333,336	1,145,350	(1,174,019)	(11,376)	5,293,291
Restricted funds
Capital
expenditure		46,590		(6,790)		39,800
Walcot
Foundation—
Pitch Forward			25,000	(31,015)	6,015
Lambeth Council
—Build For
Change			18,000	(5,500)		12,500
GLA —Elevate			41,955	(47,316)	5,361
Positive Futures
Fund		400				400
Nat West Youth
Markets		800				800
		47,790	84,955	90,621	11376	53,500
		5,381,126	1,230,305	1,264,640		5 346,791

							Balance at
	Balance at						31 March
	1	April 2021 E		Income f	Expenditure F	Transfers	2022
Unrestricted
funds
General funds		915,572		317,101	(337,032)	(11,376)	884,265
Restricted funds
Capital
expenditure		46,590		-	(6,790)		39,800
Walcot
Foundation—
Pitch Forward				25,000	(31,015)	6,015
Lambeth Council
—Build For
Change				18,000	(5,500)		12,500
GLA —Elevate				41,955	(47,316)	5,361
Positive Futures
Fund			400				400
Nat West Youth
Markets			800				800
		47,790		84,955	90,621	11,376	53500
		963,362		402,056	427,653		937,765

Group
		Unrestricted	Restricted	Total
		F	F	F
Tangible	fixed assets	6,069,140		6,069,140
Other net	assets/(liabilities)	(775,849)	53,500	(722,349)
		5,293,291	53,500	5,346,791

Charity
		Unrestricted	Restricted	Total
		F	F	6
Tangible	fixed assets	4,950		4,950
Other net	assets/(liabilities)	879,315	53,500	932,815
		884,265	53,500	937,765

A summary of	tradin	g res	ults is set out belo	w:-
					2022	2021
					6	F
Turnover					1,137,449	1,063,087
Cost ofSales					(370,191)	(306,057)
Gross Profit					767,258	757,030
Other operating	income				20,079	42,881
Administration	expenses				(479,988)	(411,883)
Interest receivable
Interest payable					(20,528)	(17,063)
Net profit					286,821	370,965
Charitable payment		to Business Launchpad		Limited	(295,559)	(365,000)
Surplus/(Deficit)	retained		in subsidiary		(8,738)	5,965

				2022	2021
Tangible fixed assets				5,054,190	6,094,624
Current assets				301,519	410,370
Current liabilities				(1,356,478)	(1,524,1 73)
Liabilities due after more	than	one year		(150,048)	(216,956)
Government grants deferred		income		(450,253)	(346,097)
Net assets				4,409,030	4,417,768
Share capital
Reserves:
Distributable				198,155	206,904
Un-distributable	(Revaluation		reserve)	4,210,852	4,210,862
Aggregate share capital	and	reserves		4,409,030	4,417,768