Reglstered Company Number: 02110648
Registered Charity Number- 299599
Business Launchpad Limited
Consolidated Report and Financial
Statements: Year ending 31 March 2025

Business Launchpad Limited
Contents of the Financial Statements
Year Ended 31 March 2025
Report of the Trustees
Report of the Independent Auditors to the Members of Business
Launchpad Limited
15
Consolidated Statement of Financial Activities
20
Consolidated Balance Sheet
21
Parent Charity Balance Sheet
22
Consolidatod Stat•m•nt of Cashflows
23
Notes to the Financial Statements
24

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Reference and Administrative information
Business Launchpad is a company limited by guarantee and a registered Charity governed by
its memorandum and articles of association.
Registered Company number:
02110648 (England and Wales)
Registorod Charity number:
299599
Registered office:
Trident Business Centre
89 Bickersteth Road
Tooting
London
SW17 9SH
Directors and Trustees:
Ms H E Butler
Mr D A Gordon (resigned 05.9.251
Mr O Olanrewaju
Ms P Raja (resigned 05.9.25)
MsAMRaja
Ms B Riemer
Mrw A M Sceats
MrJR Wall
Mr S J Williams
Mr G Culverhouse (appointed 28.5.241
Chief Executive Officer:
Felicia Mattis-Rome

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Reference and Administrative Information
Auditors:
Barnes Roffe Audit Limited
Chartered Accountants and Statutory Auditor
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA
Bankers:
The Co-operative Bank
Business Account
P.0. Box 250
Delf House
Skelmersdale
WN8 6V
Solicitors:
Wrigleys Solicitors
19 Cookridge Street
Leeds
West York
LS2 3AG
Insurance Advisors:
CaSE Insurance
Manor House
1 The CreS￿nt
Leatherhead
Surrey
KT22 8DH

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
The trustees present their report together with the audited financial statements of Business
Launchpad Limited {"the charitable company") for the year ended 31 March 2025.
This report has been prepared in accordance with Part 8 ofthe Charities Act 2011 and serves
as a directors, report for the purposes of the Companies Act 2006.
The financial statements have been prepared in accordance with the accounting policies set
out on pages 24 to 29 therein and comply with the charitable company's governing document,
applicable laws and Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Background- Business Launchpad- Transfom)ing Young Lives Through Enterprise
The operation of the charity is founded on providing the tools needed to start up and run a
successful enterprise. Targeting a client base of young people aged 16 - 30 living in London,
Business Launchpad IBLPI engages with around 1,000 young people each year Ihat face an
array of barriers to enterprise with the goal of developing skills required to successfully set up
and grow their own business or social enterprise and create future leaders. BLP has been
dedicated lo transforming young lives through enterprise Sin￿ 1988 and pride ourselves on
creating safe spaces for young people through our programmes and workshops, both online
and onsite.
Business Launchpad (BLPI BLP supports young people in a variety of ways including the
provision of hot-desking and co-working spa￿S at subsidized rates to test trade their business
idea andlor host their first series of events. As well as intensive programmes and holistic
support, BLP offers different formats of support to accommodate the specific needs of each
client at each stage of entrepreneurship. Our offering covers., interactive workshops, 1..1
business support sessions, soft skills cullivation and review, nelworking events, access to
funding, test trading opportunities as well as partnership formation and mentorship.
This report provides an open and transparent account of our financial position and how our
resources are invested in the activities pursuant to the strategic goals of the organisation.

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
The BLP Mission Statement, Values and 2022-25 Strategy
The BLP Group IBLP and its subsidiary Trident Business Centre Limited) have adopted the
following integrated mission statement, values and strategic goals for 2022-25.
The BLP Mission Statement
Developing vibrant community assets, supporting local people, businesses and organisations
to thrive, and providing business skills and wellbeing coaching to marginalised young people.
Our Vision
Equipping and empowering marginalised young people to become entrepreneurs through the
support of a diverse network of people, businesses and organisations all working and
succeeding together.
Our Values
Adaptable & Flexible- managing the well-being of projeclslslaff and standing by the
decisions and actions with honesty, openness and transparency.
Community Focussed- increase our positive impact on the community
Young People at the Heart of all we do
Accountable to ourselves and our stakeholders
Collaborative & Entrepreneurial- form partnerships, share learning and join with
others.
Public Benefit
The Board of Trustees has taken account of the Charity Commission's guidancè on public
benefit in reviewing BLP'S aims and objectives and planning future activities.
Messa
e from the Chair- BLP Activities
'Transforming Young Lives Through Enterprise,
2024-2025 summary
Throughout the past year, Business Launchpad and Tooting Works have worked tirelessly to
provide vital support, resources, and opportunities to aspiring entrepreneurs, budding startups,
and community members to anyone matching the demographic we serve. We are pleased that
our occupancy rates across Tooting Works have averaged 98 % and the Community Hub
Spaces which were launched in 2023 have brought in more Yoy revenue, meaning the
business ￿nter could continue to financially support Business Launchpad.
In 2024 - 2025, Business Launchpad directly supported 372 young people from London,
evidencing our public benefit impact. 74°/4 of our young people identified as part of the global
Majority highlighting our commitment to reflecting the diversity of London's population. In Jun8
2024 we won the Innovation Award and received highly commended status for Best Charity at
the Wandsworth Business Awards, evidencing the charity as a beacon of hope and opportunity
that fosters a sense of belonging and solidarity within our community.

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
To do this work, we have been wonderfully supported wilh grant income in the year from the
Violence Reduction Unit, Wandsworth Borough Council, Walcot Foundation, Wimbledon
Foundation and Impetus.
1.1 Business Coaching
Business 1..1 support has been a flagship and core Business Launchpad service for over 30
years. 1..1 s are a type of holistic business support that is available to young people, whether
they are part of a programme or not. We offer free 1..1 support to a young person for a year
and in 2024 - 2025, we supported over 80 clients, delivering over 300 hours of sessions both
onsite and online. Within these sessions, we focus on building a business mindset, test trade
their business ideas and provide neiworking opportunities.
Young people who participate in this service are invited to use our spaces and attend relevant
workshops. We find that 1'.1s yield some ofthe biggest impact on the young people with whom
we work.
Incubator Plus Programme
Launched in January 2025 and powered by Walcot Foundation, Incubator Plus is our newest
in-depth programme designed to support young people aged 16 to 30 to turn their ideas into
real ventures. The programme blends enterprise and employability training with personalised
coaching, combining the strength of group learning with the tailored guidance of 1..1 support.
The first cohort, due to conclude in June 2025, engaged 46 young people through targeted
outreach across London, with a particular focus in Lambeth. Participants accessed digital
training in WordPress and Elementor alongside ongoing coaching, giving them both the
technical skills and the mindset needed to test trade and grow their ventures.
We find that Incubator Plus has already created a strong sense of community and ambition
among participants, demonstrating the value of pairing practical skills with holistic support.
Career Connect
In August 2024, we delivered Career Connect, an employability fair designed to bring young
people closer to the world of work by connecting them with employers.
The event, delivered in collaboration with Age UK and Howden Insurance at Tooting Works,
welcomed over 30 attendees. Young people had the chance to gain direct insights into different
career paths, build networks, and explore opportunities that could help shape their future
journeys.
The response was overwhelmingly positive, with young people and employers alike expressing
strong demand for future events of this kind. Career Connect highlighted the value of convening
spaces where young people can access not only opportunities but also the inspiration and
confidencè to pursue them.

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Decode My Future 3.0
Building on the achievements highlighted in last year's report, Decode My Future (a
schoolslearly pipeline programme for a younger audience) concluded in March 2025, enrolling
104 young people aged 8 - 18 and surpassing its original target of 80. Delivered in partnership
with Shapeways.io, the programme continued to focus on coding, creative tech, and building
digital confiden￿, offering tailored leaming experiences for each age group.
Younger participants (aged 8 - 111 explored coding through Scratch, while those aged 12 - 15
advanced into Java and mobile application development. The older cohort, aged 16 - 18,
worked on web development using WordPress and Elemenlor, gaining skills directly applicable
to the digital economy. For the younger age groups, aftercare mentoring reinfOr￿d digital
safety, confidence, and leadership, ensuring that the programme's impact extended well
beyond the classroom.
The final phase also introduced collaborative delivery with Leaders in Community (Tower
Hamlets), expanding reach and deepening the programme's impact. With 104 young people
supported overall, Decode My Future has left a strong legacy, showing the power of early
digital skills training to inspire ambition, build resilience, and open pathways into tech careers.
Wands¥￿)rth Council's Workspace Activation
Through our partnership with Wandsworth Council, we provided free workspace and tailored
business support at Tooting Works to 60 entrepreneurs and 66 local businesses in 2024
2025. Support was offered through a blend of workshops and 1..1 sessions, giving local
businesses access to practical advice, guidance, and mentoring. Participants represented 14
different sectors, with numerous in education. health, retail, and food.
The most common outcomes reported were improvements in marketing strategy150 % l and
business processes123 % }. others reported breakthroughs included securing finan￿, building
new partnerships, or resolving critical barriers lo growth. This collaboration with Wandsworth
Council highlights the power of pla￿-baSed partnerships to nurture a resilient and diverse local
business community.
Impetus
We are pleased to announce our partnership with Impetus, commencing the fall of 2024.
Impetus is a private equity foundation that handpicks high potential organisations supporbng
young people in the UK. Impetus recognised Business Launchpad's impact and as a result,
will be providing support to assist in refining our impact strategy and delivery plan to aid
Business Launchpad with providing long-term impact to young people in a sustainable way.
Impetus is providing advisory and capacity building support {business planning, leadership and
performance management) alongside core funding., this strengthens our impact discipline while
preserving independent governance and strategic control.

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Tooting Works, Activities
Tooting Works has continued to perform well with occupancy rates steady at 980A. Over the
course of this year the key priorities for TW have been to balance its core offer of being a
community asset (by providing affordable office space) with rising costs to run the ￿ntre and
an aging building. We achieved this in the last year by opting against raising prI￿S for our
leased units and maintaining a high occupancy rate as well as BLP'S improved self-sufficiency
freeing up TW funds for other expense streams. Also, the community hub spa￿S launched in
summer 2023 outperformed their income generation from the prior year on top of providing
spaces for community events and collaborations.
Strategic Goals 2022-2025
1- Provide entrepreneurial support to a minimum of 600 marginalised young people across
London, with specialist support to an additional 100 young people via our cohort
programme.
2- Establish our spaces as community assets maximising opportunities to create social
impact for tenants, clients and the wider community.
3- Facilitating 100 BLP clients into work pla￿mentS, traineeships and apprentI￿ShipS in
our tenant businesses.
4- Having 25 % of our businesses trading with each other internally by 2025 boosting the
local economy and reducing carbon footprint.
5- Move towards carbon neutrality by 2025 with significant savings in utility costs up to
£40K over the business plan period.
The Year Ahead
In the coming year, we intend to continue to support our stakeholders through consistently
delivering high impact social and financial interventions in line with our strategic objectives.
Accordingly, priorities for 2025-2026 will be as follows..
BLP
Support a minimum of 260 marginalised young people.
Develop our core interventions and introduce a new employability aspect to our
entrepreneur focused programme model.
Provide support new slart-ups, helping them scale and grow.
Continue to develop corporate partnerships to enable pro-bono support such as
mentorship and fundraising for our clients and the organization as a whole.
Better record and document our social impact.
TBC
Maintain high occupancy rate by targeting a minimum occupancy of 960/0, and a
monthly revenue target of £115k.
Establish an assel management strategy and ring-fenced CAPEX reserve.
To increase the occupancy across the newly launched Tooting Community Hub,
mainly targeting the Kitchen and Dining Spaces.
To continue to implement our new carbon neutral plan.

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Governance
The charity is a company limiled by guarantee and does not have share capital and is
constituted within the rules as laid down by Companies Act 2006. The governing document is
through the vehicle of a Memorandum ofAssociation.
BLP is governed by a Board of Trustees, who are also the Directors for the purposes of The
Companies Act. The Trustees volunteer their time and expertise to guide the development of
the charity and support the work of the Chief Executive and staff.
The Trustees are drawn from the community, industry, commerce, voluntary and statutory
sectors. The Trustees decide on matters of policy, direction, planning and development relating
to the charity and its subsidiary operation. They monitor the nature and quality of BLP'S
services and training programmes and regularly review the provision and range of services
provided to ensure the delivery of a consistent and high quality service, geared to the needs of
the client group. The Board of Trustees meets quarterly.
The skills base of the Trustees is frequently reviewed lo identify gaps wthin the Board of
Trustees on a regular basis. Decisions on Ihe mix of experience and expertise required are
undertaken in the conlext of currenl and future organisalional stralegic and operalional
demands. Should the Board of Trustees identify a gap in Ihe skills base, suilable individuals
are identified through the charity's and the Trustees, extensive support networks. Potential
Trustees are provided with information on their roles and responsibilities as a Trustee and are
provided with an overview of the organisalion by relevant Trustee(s) and the Chief Executive.
During the year, new trustee appointments were made in order lo bring new expertise to the
Board including Business Launchpad service user experience, and experien￿ ofworking with
young people.
The following Trustees served during the year and up to the date of this report..
Ms H E Butler
Mr D A Gordon (resigned 05.9.251
Mr O Olanrewaju
Ms P Raja (resignéd 05.9.25)
MsAMRaja
Ms B Riemer
Mrw A M Sceats
MrJR Wall
Mr S J Williams
Mr G Culverhouse (appointed 28.5.241
The Chief Executive Officer ICEOI reports to the Board ofTrustees. The CEO is responsible,
in consultation and with the guidance of the Trustees, for the overall operation of BLP and ils
Servi￿$. Informal reporting to the Chair of the TrusteeslDirectors andlor individual Trustees,
as appropriate, takes place in between meetings as needed.
Chief Executive.. Felicia Mattis-Rome
10

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Risk Management
The Chief Executive reports to the Board on risk management. Key risks have been identified
in the Risk Register. Action to address risk is planned and monitored in Board meetings. The
principal risks considered by the trustees this year included RAAC remediation and ageing
buildinglfacilities issues on a live site, income volatility (statutory and philanthropic), tenant
disruption and occupancy risk, data protection and cyber security, safeguarding, and key-
person capacity. Mitigations and current status are summarised below.
Mitigations are summarised below..
Identification of RAAC & Aging BuildinglFacilities.' Building management strategy,
structural surveys and accommodating priority matrix to phase the works and manage
cashflow.
Income Volatility {statutorylphilanthropicl.' Diversified fundraising strategy, including
introducing a new fundraiser role and targeting corporate partnerships le.g. Impetus).
Tenant disruption and Occupancy risk.. Tenant satisfaction monitoring and budgeted
works on repeatedly flagged improvement areas.
Data and Cyber Security - Intention to move data from a local shared drive to the
cloud and frequent staff training.
Safeguarding Rolling out monrtor, evaluation, accountability and learning (MEALI
framework.
Going Concern
The trustees have reviewed cashflow forecasts for at least twelve months from the date of
approval, including the timing and phasing of RAAC remediation. Mitigations include phased
delivery, active fundraising, and cost controls. Based on these plans and reasonable
sensitivities, the trustees consider it appropriate to adopt the going concern basis of
accounting.
Safeguarding
Business Launchpad has a safeguarding policy in place to protect the young people we
support, ensuring their safety and wellbeing remain a top priority. All staff re￿1ve appropriate
safeguarding training, with regular updates provided to maintain awareness and complian￿.
EnvironmentaVESG
BLPS environmental plan includes creating a more sustainable operation with a lower carbon
footprint. Our goal is to redu￿ the carbon footprint by 150kn by March 2028, as well as achieve
a recognised environmental accreditation. In July 2025, we were awarded level one on the
Greenmark accreditation scheme, and plan to reach level three by March 2028. Furthermore,
as part of our building management strategy, we are covering all lighting to LEDS and have
already reached the 2025-26 goal of 660/0 converted. Over the remainder of next financial
year, our priorities will be recycling initiatives, securing our next utility contract with a suitable
supplier, and improving energy efficiency through insulation installed when we repla￿ the
roof on one of our buildings.

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Pay Policy for Key Management Personnel
Key management personnel include the CEO and Executive Leadership team, consisting of 5
members. The basis for remuneration for these members is via a benchmarking and banding
process executed by the Board in line with CIPD recommendations.
Financial Review
Net income (expenditure} for the year amounted to net income of £42k {2023124'. net income
of £133kl. This reflects an increase in income of £98k, as well as an increase in expenditure
of£189k.
The following are the reasons for our financial result for the year as set out in the Statement
of Financial Activities..
a) Income & Endowments
Total income for the year was £1.51m compared wilh £1.14m in 20231234. This
represents an increase of £1 Ook from the prior year.
Income from charitable activities (grant funding) increased to £127k, from £70k in the
prior year.
Core income from trading activities in respect of the Trident Business Centre increased
from £1.32m in 2023124 to £1.38m in 2024125.
enditure
Charitable expenditure for the year was £424k, compared with £367k in 2023124, due
to an increase in grant and project activity. During the year there was a £75k crease in
expenditure on Staff costs, but an overall decrease of £18k in other costs and support
costs to support activities.
Expenditure on trading activities increased to £1 m from £900k in Ihe previous year.
) Other reco
nised
ains I
losses
There was also an unrealised loss of £2m 1202312024.. £420kl on the revaluation of
the long-term leasehold property held by Trident Business Centre after a professional
external valuation was carried out in July 2025. The reduction in the fair value of ihe
property is attributed to a headlease clause was overlooked in prior year property
valuations. Specifically, the valuation carried out in July 2025 factored in a clause in
the headlease that requires rent to be paid to the landlord based on the level of
company profits. At present under the current structure no rent is due as a result of
Trident Business Centre donating all profits up to the parent charity, BLP, each year.
Given that fair value should be at open market value it was agreed with the valuers
that this rent clause should be factored into the valuation.
12

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Investment policy and objectives
Business Launchpad, as a single entity, operates with a low cash balance, and its only
investments relate to its trading subsidiary, Trident Business Centre Limited. Business
Launchpad is the sole shareholder in Trident Business Centre Limited, which donates its
profits every year to Business Launchpad. Business Launchpad also has a loan outstanding
to Trident Business Centre, on which it receives interest. Trident Business Centre Limited is
a community asset which serves the mission of Business Launchpad both financially and
logistically.
Ros•rv8s policy
The charity has invested in ils trading subsidiary, Trident Business Centre Limited, to provide
the support and working capital it requires. The investment therefore utilises a significanl
amount of the charity's reserves. As noted above the trustees consider this investment is
essential to the charity's mission both as a community asset and financially as a result of the
donation the charity receives each year.
As at 31 March 2025 on the parent charity balance sheet, the investment in Trident Business
Centre is £784,286 (2024.. £605,570), via an intercompany loan, and, after deducting
creditors, this currently accounts for the majority of the unrestricted funds in the charity of
£747,21412024'. £645,128), and so free reserves are minimal.
At a group level, on the consolidated balance sheet as at 31 March 2025, there are
unrestricted funds of £3,080,020 (2024.. £5,041,596}. However, the majority of these funds
are represented by the long-term leasehold propety and other fixed assets of the Trident
Business Centre with a net book value of £4,094,210 (2024.. £6,157,987). Bank loans of
£497,939 {2024'. £511,931) and deferred government grant income of £631,421 {2024.'
£674,165) relate to the property, so if these are deducted the net position is £2,964,850 {2024.'
£4,971,891). This leaves a surplus of unreslricled funds of £115,17012024 £69,707) which
are being utilised by the trading subsidiary, Trident Business Centre, for working capital
requirements. Therefore, there are currently no surplus funds (free reserves) available to the
charity.
The Trustees are conscious of the level of reserves required by the charity. The Trustees are
of the opinion that it will be prudent to aim to hold free reserves equivalent to three months of
unrestricted operating costs {£300k) in the event of any orderly shutdown. At year-end, free
reserves were £230k, representing just over 2 months. The trustees have approved a plan to
rebuild free reserves over the next 5 years.
The reserves level is monitored on an ongoing basis by the Trustees with particular reference
to the strategic review.
13

Business Launchpad Limited
Report of the Trustees for the
Year Ended 31 March 2025
Statement of Trustees, Responsibilities
The trustees (who are also the directors of Business Launchpad Limited for the purposes of
company law) are responsible for preparing the Report of the Trustees and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting practi￿).
Company law requires the members ofthe governing body to prepare financial statements for
each financial year, which give a true and fair view of the financial activities of the charitable
company and its subsidiaries during the year and of their financial position at the end of the
year. In preparing those financial statements, the govemors are required to..
Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charities SORP.
Make judgments and estimates Ihat are reasonable and prudent.
State whelher applicable accounling slandards and stalemenls of recommended
practice have been followed, subject to any material departures disclosed and
explained in the financial statements.
Prepare Ihe financial statements on a going concern basis unless il is inappropriale to
presume that the charity will continue in business.
The members of the governing body are responsible for keeping proper accounting records
which disclose with reasonable accuracy the financial position of the charitable company and
its subsidiaries, and which enable Ihem to ascertain their financial tx)silion and lo ensure that
the financial st8lemenls comply with the Companies Act 2006, the Charities Act 1993 and
regulations there under. They are also responsible for safeguarding the assets of the
charitable company and its subsidiaries and for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
In $0 far as the trustees are aware..
There is no relevant audit information of which the charitable company's auditors are
unaware., and
The trustees have taken all steps that they ought to have taken to make themselves
aware of any relevant audit information and to establish that the auditors are aware of
that infomiation.
This report has been prepared in accordance with the special provisions of Part 15 of the
Companies Act of the Companies Act 2006 relating to small companies.
By order of the Board
O Olanrewaju
Trustae
14

Business Launchpad Limited
Report of the Independent Auditors to the Members of
Business Launchpad Limited
We have audited the financial statements of Business Launchpad (the parent 'charitable
company,) and its subsidiaries (the 'group') for the year ended 31 March 2025 which
comprise the Consolidated Statement of Financial Activities, the Consolidated Balan
Sheet, the Charitable company Balan￿ Sheet and notes to the financial statements,
including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial ststements..
give a true and fair view of the stale of the group's and of the charitable company's
affairs as at 31 March 2025, and of the group s incoming resources and application
of resources, including its income and expenditure, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accept&
Accounting Practice., and
have been prepared in accordancewith the requirements oflhe CompaniesAot 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS
(UK)) and applicable law. Our responsibilities under those standards are further described
in the Auditor's responsibilities for the audit of the financial staternents section of our report.
We are independent of the group and parent charitable company in accordan￿ with the
ethical requirements that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities
in accordance with Ihese requirements. We believe that Ihe audit evidence we have
oblained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going Concern
In auditing the financial statements, we have concluded that the trustees, use of the going
concern 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 parent charitable company's ability to continue as a going concern for
period of at least fvdelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
15

Business Launchpad Limited
Report of the Independent Auditors to the Members of
Business Launchpad Limited
Other information
The other information comprises the information included in the trustees, annual report other
than the financial statements and our auditors, report thereon. The trustees are responsible
for the other information contained within the trustees, annual report. Our opinion on the
financial statements does not cover the other information and, except to the extent othenNise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the
other infomiation is materially inconsistent with the financial statements or our knowledge
obtained in the course of the audit, or otherwise appears to be materially misstated. If we
identify such material inconsistencies or apparent material misslalements, we are required
to determine whether this gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude that there is a material
misstalement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report for the financial year frjr which the
financial statements are prepared is consistent with the financial statements., and
Ihe truslees, report has been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and of the Charitable company
and its environment obtained in the course of the audit, we have not identified material
misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the
Companies Act 2006 requires us to report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit
have not been re￿iVed from branches not visited by us., or
the financial statements are not in agreement with the accounting records and
retums., or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the infomation and explanations we require for our audit., or
the tru5tee5 were not entitled to prepare the financial statements in accordance with
the small companies regime and take advantage ofthe small companies, exemptions
in preparing the trusteès, réport and from the requiremènt to preparé a strategic
report.
16

Business Launchpad Limited
Report of the Independent Auditors to the Members of
Business Launchpad Limited
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also
the directors of the charitable company for the purposes of company law) are responsible
for the preparation of the financial statements and for being satisfied that they give a true
and fair view, and for such internal control as the trustees determine 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 statements, the trustees are responsible for assessing the
charitable company's ability to continue as a going concern, disclosing, as applicable,
matters related lo going con￿rn and using the going concern basis of accounting unless
the trustees either intend to liquidate the charrtable company or to cease operations, or have
no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements
as a whole are free from material misstatement, whether due to fraud or error, and to issue
an auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will
always detect a material misstatement when it exists. Misstatements 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations.
We design procedures in line with our responsibilitie5, Outlined above, to detect material
misstatements in respect of irregularities, including fraud. The specific procedures for this
engagement and the extent to which these are capable of detecting irregularities, including
fraud is detailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of
irregularities, including fraud and non-compliance with law and regulations, was as follows..
The engagement partner ensured that the engagement team collectively had the
appropriate competence, capabilities and skills to identify or recognise non-
compliance with applicable laws and regulalions",
We identified the laws and regulations applicable to the group and the charitable
company through discussion with directors and other management, and from our
knowledge and experience of the charity sector.,
The specific laws and regulations which we considered may have a direct material
effect on the financial statements or the operations of the group and the charitable
company, are as follows..
Companies Act 2006.,
Charities Act 2011 and Charity Commission requirements and guidance.,
FRS 102 and Charity SORP:
Health and Safely standards.,
General Data Protection Regulation.,
London living wage regulation.,
Social enterprise mark accreditation.,
17

Business Launchpad Limited
Report of the Independent Auditors to the Members of
Business Launchpad Limited
Employment legislation., and
Tax legislation.
We assessed the extent of compliance with the18ws and regulations identified above
through making enquiries of management, reviewing board minutes, and inspecting
legal Corresponden￿ and invol￿s.,
Laws and regulations were communicated within the audil team at the planning
meeting, and during the audit as any further laws and regulation were identified. The
audit team remained alert to instances of non-compliance throughout Ihe audil,. and
As auditors of all the subsidiaries of Business Launchpad Limited we were able to
cover the above matters at a group and component level and thereby ensure the
audit team were aware of the above malters across the group.
We assessed the susceptibility of the group and charitable company's financial stalements
to material misstslement, including obtaining an understanding of how fraud might occur by..
Making enquires of management as to where they consider ihere was SUs￿ptibIlity
to fraud and their knowledge of actual suspected and alleged fraud.,
Considering the internal controls in pla￿ to mitigate risks of fraud and non-
compliance with laws and regulations.,
Reviewing the financial statements and testing the disclosures against supporting
documentation.,
Inspecting and testing journal entries to identify unusual or unexpected transactions.,
Assessing whether judgement and assumptions made in determining significant
accounting estimates, including the valuation of leasehold property, accruals, bad
debt provision and depreciation were indicative of management bias., and
Investigating the rationale behind signrficant transactions, or transactions that are
unusual or outside the group and charitable company's usual activities.
The areas that we identified as being susceptible to misstatement through fraud were..
Management bias in regard to accounting estimates and judgements made.,
Management override of conlrols", and
Posting of unusual joumals or transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all
irregularities, including those leading to a material misstatement in the financial statements
or non-compliance with regulation. This risk increases the more that compliance with a law
or regulation is removed from Ihe evenls and transactions reflected in the financial
statements, as we will be less likely 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 concealmenl, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's
website at.. https'.Ilwww.frc.org.uklOur-WorklAudiUAudit-and-assurancelStandards-and-
guidancelstandards-and-guidan￿-fOr-aud1torSlAud1tOrs-reSponsibilitieS-f0r-
auditlDescription-of-auditors-responsibilities-for-audit.aspx. This description forms part of
our auditor's report.
18

Business Launchpad Limited
Report of the Independent Auditors to the Members of
Business Launchpad Limited
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance
with Part 4 ofthe Charities (Accounts and Reports) Regulations 2008. Our audit work has
been undertaken so that we might state to the charitable company's trustees those matters
we are required to state to them in an auditor's report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the
charitable company and the charitable company's trustees as a body, for our audit work, for
this report, or for the opinions we have formed.
Ben Bradley (Senior Statutory Auditor)
for and on behalf of Barnes Roffe Audit Limited
Chartered Accountants and Statutory Auditors
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford, Kent
DA2 6QA
23-Dec-2025
Date..
19

Business Launchpad Limited
(Company Number: 2110648- Charity Number: 299599)
Consolidated Statement of Financial Activities
for the Year Ended 31 March 2025
2025
2024
Unrestricted
funds
Restricted
funds
Totsl
untESt￿tted Restrlcted
nds
funds
Totsl
Note
In¢ome and endowments
from..
Donations and lega￿eS
Investments
6,752
1.640
6,752
1,640
127,248
1,377,S39
22,462
495
22,462
495
Charitable acti￿tIeS
127.248
69.503
69,503
1,322,705
other trading activitle5
Totsl incomo and
endowments
1,377.539
1,322,705
1.385.931
127.248
1,513,179
1.345.662
89.503
1.415,165
Expenditure on-
Raising Funds
Charitable acliwties
17.680
310.328
1,029.448
17,680
423,798
1,029,448
15.450
2S7.739
900.419
15,450
366,671
900,419
113.470
88.932
other trading activities
Totsl expendrtu
1.357.456
113.470
1,470,920
1,213,608
68.932
1.282.540
Net income I
lexpenditurel
28.475
13,778
42,253
132.054
571
132,625
Other ￿¢09￿1$¢￿ gains I
11055851
Unrealised loss on
valuation of tsngible fixed
as5et5
11,990,000)
11,990,WQI
1420.WOI
1420,0001
Transfers funds
51
Net movement in fund$
19
11.961.576)
13.829
11.947,7471
12¥7,9461
571
1287,3751
Reconciliation of funds-
Total funds brought
fonmard
19
5,041.596
36,916
5,078,512
5,329,542
36,345
S,365,887
Total lunds carried
fonvard
19
3.080.020
50,745
3,130,765
5,041.596
36.916
5.078,512
All income and expenditu￿ have arisen from ¢ontinJing a¢tivitEs. The stslement of financial a¢livitEs includes all gains and
losses recognised during the year. The charity has taken advantage ofseclion 408 of the Companies Act 2006 to not publish
its own Statement of Financial Activities. The charity's nel income for the year was £115,91512024'.net los$ £1275,7251.
20

Business Launchpad Limited
(Company Number: 2110648- Charity Number: 299599)
Consolidated Balance Sheet
At 31 March 2025
2025
2024
Nots
Fixed assets
Tangible assets
12
4.097,830
4,097,830
6.165,274
6.165,274
Current assets
Debtors
Cash at bank and in hand
14
119.347
512,071
631,418
111,132
398,710
509,842
Creditors: amounts falling due within one
year
Net current assets l {liabilities)
Total assets less currant liabilitios
15
(488,774)
(424,925)
142,644
84,917
4,240,474
6,250,191
Creditors: amounts falling due after more
than one year
Government grants
Net assets l {liabilities)
16
(478,288)
{631,421)
3,130,765
(497,514)
(674,165)
5,078,512
17
Charity Funds
Unrestricled funds
Restricted funds
Total charity funds l {deficit)
19
19
19
3.080,020
50,745
3,130,765
5.041,596
36,916
5,078,512
The notes on pages 23-38 form part ofthese financial statements.
These financial statements have been prepared in accordance with the special
provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees on
and were signed on its behalf by..
O Olanrewaju - Trustee
21

Business Launchpad Limited
(Company Number: 2110648- Charity Number: 299599)
Parent Charity Balance Sheet
At 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
Investments
12
13
3,620
7,287
3,622
7,289
Current assets
Debtors
Cash at bank and in hand
14
792,286
83,997
876,283
605,720
91,465
697,185
Creditors: amounts falling due within one year
15
(81,946)
{22,430)
Net current assets l (liabilities)
794.337
674,755
Total assets less current liabilities
797,959
682,044
Net assets l (liabilities)
797,959
682,044
Charity Funds
Unrestricted funds
Restricted funds
Total charity funds l (deficit)
19
19
747,214
50,745
797,959
645,128
36,916
682,044
19
The notes on pages 23-36 form part of these Financial Statements.
These financial statements have been prepared in accordance with the special
provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees on .
and were signed on its behalf by..
O Olanrewaju - Trustee
22

Business Launchpad Limited
Consolidated Statement of Cashflows
For the Year Ended 31 March 2025
2025
2024
Cash flov￿ from operating activities
Net Incoming resources
Depreciation
Disposals
Government grant amortisation
Interest paid
Decrease I lincreasel in debtors
Increase l {decreasel in creditors
42,253
85,664
132,625
70,092
713
133,6441
40,361
105,279
58,483
(42,744
40,458
{8,215)
58,616
Net cash from operating activities
176,032
373,909
Cash flov￿ from investing activities
Purchase of tangible fixed assets
(8,220
(320,1521
Net cash from investing activities
(8,220
(320,1521
Cash flows from financing activities
Repayment of bank loans
Interest paid
(13,993}
140,458
(6,739)
140,3611
Net cash from financing activities
154,451
147,1001
(Decrease)Ilncrease in cash and cash equivalents
113,361
6,657
Cash and cash equivalents at baginning of year
398,710
392,053
Cash and cash equivalents at end of year
512,071
398,710
The notes on pages 23-36 form part of these Financial Statements.
23

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
GENERAL INFORMATION
Business Launchpad Limited is a charity registered in England and Wales. The
registered office of the charity is Trident Business Cenlre, 89 Bickersteth Road,
Tooting, London, SW17 9SH. The principal activity of the charily during Ihe year
was Ihat of the provision of counselling and training, in order lo offer practical,
omplete, and personalised business guidan￿ and support to disadvantaged
young entrepreneurs from across London, in the age range of 16 to 30, who want
to set up and run their own enterprise.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial
statements have been prepared in accordan￿ with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102} issued on October 2019, the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland
{FRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally
Accepted Accounting Practice.
The financial statements have been prepared on a going con￿rn basis underthe
historical cosl convention with the eX￿pIlOn of tangible fixed assets which are
included at revaluation. The presentation currency is £ slerling and rounded to
the nearest £'OOO.
Basis of consolidation
The consolidated financial statements present the results of the company and its
own subsidiaries I'the group") as if they form a single entity. Intercompany
transactions and balances between group companies are therefore eliminated in
Assossment of going concorn
The Irustees have assessed whether the use oflhe going con￿rn assumplion is
appropriate in preparing these financial statements. The trustees have made this
assessment in respect to a period of one year from the date of approval of these
financial statements.
The trustees of the charity have concluded that there are no material uncertainties
related to events or conditions that may cast significant doubt on the ability of the
charity to continue as a going concern. The trustees are of the opinion that the
charity and its subsidiary will have sufficient reSoUr￿S to meet its liabilities as
they fall due.
24

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES {CONTINUEDI
Income
Income is recognised in the period in which the charity has entrtlement to the
income, the amount of income can be measured reliably, and it is probable that
the income will be received.
Income received by way of donations and gifts to the charity is included in full in
the statement of financial activities when receivable. Donations are recognised
when the charity has confirmation of both the amount and settlement date. In the
event of donations pledged but not received, the amount is accrued for where the
receipt is considered probable. In the event that a donation is subject to conditions
that require a level of performance before the charity is entitled to the funds, the
income is deferred and not recognised until either those conditions are fully met,
or the fulfilment of those conditions is wholly within the control of the charity and
it is probable that those conditions will be fulfilled in the reporting period.
Gift Aid receivable is included in income when there is a valid declaration from
the donor. Any Gift Aid amount recovered on a donation is considered to be part
of that gift and is treated as an addition to the same fund as the initial donation
unless the donor or the terms of the appeal have specified otherwise.
Donated services and facilities provided to the charity are recognised in the period
when it is probable that the economic benefits will flow to the charity, provided
they can be measured reliably. This is normally when the Servi￿ is provided. An
equivalent amount is included as expenditure.
Donated SeNi￿S and facilities are recognised on the basis of the value of the gift
to the charity which is the amount the charity would have been willing to pay to
obtain facilities or services of equivalent economic benefits on the open market.
The charity receives government grants for specific projects. Income from
government and other grants are recognised at fair value. When the charity has
entitlement after any performance conditions have been met, it is probable that
the income will be received, and the amount can be measured reliably. If
entitlement is not met, then these amounts are deferred.
Interest on funds held on deposit is included when receivable and the amount can
be measured reliably by the charity., this is normally upon notification of the
interest paid or payable by the bank.
25

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES (CONTINUED)
Revenue earned by the trading subsidiary comprises revenue recognised by the
company in respect of rental income and ancillary income for services and utilities
provided. Income is recognised on a straight line basis, and deferred when
received in advance, in accordance with the below recognition policy.
Revenue is recognised to the extent that it is probable that the economic benefits
will flow lo Ihe company and the revenue can be reliably measured. Revenue is
measured as the fair value of the consideralion received or receivable, excluding
discounts, rebates, value added tax and other sales taxes. The following crileria
must also be met before revenue is recognised..
Revenue from a contract to provide services is recognised in the period in which
the services are provided in accordance with the stage of completion of the
contract when all of the following conditions are satisfied..
the amount of revenuè can bé measured reliably-
it is probable that the company will receive the consideration due under the
contract",
the stage of completion of the contract at the end of the reporting period can
be measured reliably., and
the costs incurred and the costs to complete the contract can be measured
reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or
constructive obligation committing the charity to make a payment to a third paty,
it is probable that a transfer of economic benefits will be required in settlement
and the amount of Ihe obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
All expenditure is stated inclusive of irrecoverable VAT.
Expenditure comprises direct and support costs. All expenses, including support
costs, are allocated or apportioned to the applicable expenditure headings. The
classification between activities is as follows..
Expenditure on raising funds includes all expenditure associated with
raising funds for the charity. This includes the costs of fundraising events,
staff costs associated with fundraising and an allocation of support costs.
Expenditure on charitable activities includes all costs associated wrth
furthering the charitable purposes of the charity through the provision of its
charitable activities. Such costs include charitable grants, staff costs and
an allocation of support costs.
26

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES {CONTINUED)
Grants payable are charged to the statement of financial activities in the year in
which they are approved for payment and provision is made for granls agreed
and approved but unpaid at the year end. Grants offered subject to conditions
which have not been met at the year end date are noted as a commitment but not
accrued as expenditure.
Support costs include governance costs and other support. Governance costs
comprise all cosls involving public accounlabilily of the charity and ils compliance
with regulation and good practi￿. Support costs include central functions and
have been allocated on Ihe basis of time spent on the aclivities.
Finance costs are charged to the Statement of Financial Activities over the term
of the debt using the effective interest method so that the amount charged is at a
constant rate on the carrying amount. Issue costs are initially recognised as
reduction in the pro￿edS of the associated capital instrument.
Tangible fixed assets
Items of equipment are capitalised where the purchase pri￿ exceeds £1,000
including irrecoverable VAT. Depreciation is provided at rates calculated to wrrte
down the cost of each asset to its estimated residual value over its expected
useful life. The deprecialion rates in use by the group are as follows..
offi￿ furniture and equipment
250/0 or 330k or 500/0 Straight line or 250/0
reducing balan
20 % or 400/0 Straight line
Not depreciated
Leasehold improvements
Long-term leasehold property
Depreciation costs are allocated to activities on the basis of the use of the related
assets in those activities.
Assets are reviewed for impairment if circumstances indicate their carrying value
may exceed their net realisable value or value in use.
The group has invoked a true and fair override from the requirements of the
Companies Act 2006 to charge depreciation on leasehold properties, that are
included within tangible fixed assets, and so has not provided for depreciation on
leasehold properties. It is the group's policy to maintain its properties in a sound
state of repair and, accordingly, the trustees consider that the economic lives of
the propertie5 and the life left on the lease are so long and the residual value at
such a level that depreciation would be immaterial.
27

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES- continued
Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at
fair value at the date of the revaluation less any subsequent accumulated
depreciation and subsequent accumulated impaimient losses. Revaluations are
undertaken with sufficient regularity to ensure the carrying amount does not differ
materially from that which would be determined using fair value al Ihe balance
sheet dale.
Fair values are determined from market based eviden￿ normally undertaken by
professionally qualified valuers.
Revaluation gains and losses are recognised in the Statement of Financial
Activities, unless losses exceed the previously recognised gains or reflect a clear
consumption of economic benefits, in which case, the excess losses are
recognised in the profit or loss.
Government and local authority grants
Grants are accounted underthe accruals model as permitted by FRS 102. Grants
relating to expenditure on tangible fixed assets are credited to profit or loss at Ihe
same rate as the depreciation on the assets to which the granl relates. The
deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive
income in the same period as the related expenditure.
Taxation
The charity is an exempt charily Wlthin the meaning of schedule 3 of the Charities
Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6
Finance Act 2010 and Iherefore it meets the definition of a charitsble company
for UK corporation tax purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at
the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the
objects of Ihe charity. Restriclions arise when specified by the donor or when
funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the
notes to the financial statements.
28

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES- continued
Pension costs and othar post-ratirement bènafits
The group operates a defined contribution pension scheme. Contributions
payable to the group's pension scheme are charged to the Statemenl of Financial
Activities in the period to which they relate.
Significant estimates and judgements
Estimates and judgements are continually evaluated and are based on historical
experience and other factors, including expectations of future events that are
believed to be reasonable under the circUmstan￿s.
a) Critical judgements in applying the entities accounting policies..
There are no specificjudgements apart from those involving estimates as detailed
below that management has made in the process of applying the entities
accounting policies that have a significant effect on the amounts recognised in
the financial statements.
b) Critical accounting estimates and assumptions..
The company makes estimates and assumptions Con￿rning the future. The
resulting accounting estimates can differ from the related actual results. The
estimates and assumptions that have a significant risk of causing a material
adjustment to the carrying amounls of the assets and liabilities within the next
financial year are addressed below..
{1) Useful economic lives of tangible assets.
The annual depreciation charge for tangible assets is sensitive to changes in the
estimated useful lives and residual values of the assets. These are re-assessed
annually. They are amended when necessary to reflect any estimated changes.
{ii) Impairment of debtors
The company makes an estimate of the rècoverable amount of trade and other
debtors. When assessing their impairment, the management considers factors
including the current credit rating of the debtor, the ageing profile of debtors and
historical experience.
{iiil Fair value of long-term leasehold property
There is estimation uncertainty in calculating the fair value of long-term leasehold
property held at valuation. A review of the value of long-term leasehold propety
is carried out by management regularly in addition to periodic external
professional valuations, as discussed in note 12. Vvhilst every attempt is made to
ensure that the value is as accurate as possible, there remains a risk that the
value disclosed in the accounts does not match the actual fair value at Ihe balance
sheet dale.
29

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
INVESTMENT INCOME
2025
2024
Deposit account interest
1,640
1.640
495
495
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
Grants, receivable - Unrestricted funds
Grants, receivable-Restricted fund..
-VRU Strong Futures
-Walcot Foundations
-Wandsworth Council
-wimbledon Foundation
87,248
20,000
10,000
10,000
127 248
69,503
INCOME FROM OTHER TRADING ACTIVITIES
2025
2024
Unrestricted fvnds.
Licence fees, hire charges and Servi￿ agreements
Provision of workspace
456.169
921.370
1,377,539
436,083
886,622
1,322,705
EXPENDITURE ON CHARITABLE ACTIVITIES
2025
2024
Unrestricted funds.
Staff costs (Note 101
Young people training and community events
Grants to young entrepreneurs
Legal and professional fees
Consultancy
Website, IT subscriptions & costs
Publicity and awareness
Other support costs
198,863
46,497
20,000
7,645
166,686
32,527
5,300
10,000
20,953
5,089
19,437
37,747
297,739
12,647
S,041
19,635
310,328
30

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
Restricted funds.
Staff costs {Note 101
Young people training and community events
Grants lo young entrepreneurs
Consultancy
Website, IT subscriptions & costs
Publicity and awareness
Room hire-After school club
Other support costs
70,527
3S,160
5,000
27,508
23,842
2,167
3,874
6,630
1,440
3,471
68,932
59
1,501
1,223
113,470
423,798
366,671
All support, staff costs and other expenditure have been incurred on charitable activities,
in relation to the charity's principal activity of counselling, advisory and training.
EXPENDITURE ON OTHER TRADING ACTIVITIES
2025
2024
Unrestricled funds.
Staff cosls (note 10)
Direcl costs
Finance costs
Support costs
383,032
467,289
56,225
122,902
1,029.448
303,385
437,699
55,303
104,032
900,419
All the above costs relate to the provision of workspa￿.
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended
31 March 2025 nor for the year ended 31 March 2024.
Trustees. expenses
There were no trustees, expenses paid for the year ended 31 March 2025 nor for
the yèar ended 31 March 2024.
31

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
TAXATION
The charity is exempt from corporation tax as all its income is charitable and is
applied for charitable purposes.
The non-charilable trading subsidiary is liable to pay corporation tax at a rate of
250/0 (2024 - 25 % l. There were no liabilities payable at 31 March 2025 (2024..
£Nil), as a gift aid donation was paid up within 9 months of the year end.
10. STAFF COSTS
2025
2024
Salaries, wages and freelance
National insurance
Pension costs
Training and recruitment fees
571,494
50,186
11,137
19,605
652,422
444,380
37,265
8,064
7,870
497,579
One employee re￿iVed emoluments in the band £80,000 to £90,000 (2024.. 11.
The average monthly number of employees of the group during the year was as
follows..
2025
2024
Management and administration
Workspace provision and counselling
10
18
14
16
The key management personnel of the charity in charge of directing and
controlling, running and operating the charity on a day-to-day basis comprise the
trustees and the Chief Executive. The total remuneration {including taxable
benefits and employer's national insurance) of the key management personnel
for the year was £91,486 (2024.. £89, 541).
11. SURPLUS FOR THE FINANCIAL YEAR
The surplusl(lossl for the financial year is stated after charging=
2025
2024
Auditors, remuneration
Auditors, remuneration for non-audit work
Depreciation of tangible fixed assets
Interest on bank loans and overdrafts
Amortisation of Government Grant
13,030
1,220
85,664
40.458
42,744
13,550
7,770
70,092
40,361
33,644
32

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
12. TANGIBLE FIXED ASSETS
Group
Long-term
Leasehold Office furniture
leasehold improvements and equipment
Total
Cost or valuation:
At 1 April 2024
Additions
Revaluation
At 31 March 2025
5,575,000
770,455
3,041
503,174 6,848,629
5,179
8,220
(1,990,000)
508,353 4,866,849
(1,990,000)
3,585,000
773,496
Depreciation:
At 1 April 2024
Charge for the year
At 31 March 2025
209,628
67,649
277,277
473,727
18,015
491.742
683,355
85,664
769,019
Net book value:
At 31 March 2025
3,585,000
496,219
16,611 4,097,830
At 31 March 2024
5,575,000
560,827
29,447 6,165,274
Cost or valuation as at 31 March 2025 is as follows..
Long-term
leasehold
property
At valuation:
March 2025 existing use basis
3,585,000
3,585,000
If the long-term leasehold propety had not been included at valuation it would
have been included under the historical cost convention at £1,784,138 (2024
£1,784,138}.
The leasehold propety has been independently valued at fair value by Crump
Winter Limited, the Independent Valuer, an accredited external valuer with
recognised and relevant professional qualifications and experience of the localion
and category of the leasehold property being valued.
The external valuation was carried out on 8th July 2025, and updated on 9th
September 2025, giving a valuation of £3,585,000.
The valuation has been prepared in accordance with the RICS Valuation
Professional Standards, January 2022, Global and UK Editions (commonly known
as the "Red Book").
33

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
12.
TANGIBLE FIXED ASSETS {CONTINUED
Charity
Plant and
machinery
Total
Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
27.663
1,373
29,036
27,663
29,036
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
20,376
5,040
25,416
20,376
5,040
25,416
Nat book value:
At 31 March 2025
3,620
7,287
3,620
At 31 March 2024
13. FIXED ASSET INVESTMENTS
Charity
Shares in
group
undertakings
COST
At 1 April 2024 and 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
There were no investment assets outside the UK.
The following company is a direct subsidiary of the charity..
Name
Shareholding
Trident Business Cèntrè Limited 100°
Principal activity
Provision of workspacé
The accounts ofthe subsidiary are summarised in Note 22.
34

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2025
Charity
2025
2024
2024
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
51,379 89,175
8,000
150
784,286 605,570
196
67,772 21,957
119,347 111,132
792,286 605,720
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2025
Charity
2025
2024
2024
Bank loans and overdrafts (Note 18)
19.651 14,417
Trade creditors
72,263 55,811
7,130
5,870
Other tax and social security
42.008 35,516
11,954
10,260
Other creditors
149,621 90,888
50,000
Accruals and deferred income
205,231 228,293
488,774 424,925
12,862
81,946
6,300
22,430
Bank loans are secured by a fixed charge over long-term leasehold and a floating
charge over other assets.
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group
2025
Charity
2025
2024
2024
Bank loans (Note 18)
478,288
478,288
497,514
497,514
35

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
17. GRANTS
Group
2025
2024
Received and receivable
At 1 April 2024
Re￿1vable during the year
At 31 March 2025
871,000 871,000
871000 871,000
Amortisation
At 1 April 2024
Credit to profit and loss account
At 31 March 2025
196,835
42,744
239,579
163,191
33,644
196,835
Net balance
At 31 March 2025
631,421
674,165
18. LOANS
Group
2025
2024
Amounts falling due within one yèar
Bank loans
19,651
14,417
Amounts falling due 2-S years
Bank loans
52,270
52,264
Amounts falling due more than 5 years
Bank loans
426,018
441,250
497,939
511,931
Bank loans are secured by a fixed charge over long term leasehold property and a
floating charge over the company's other assets.
The above represents loans from the Charity Bank at an interest rate of 3.250k per
annum above the base rate of The Bank of England and is repayable over a period of
25 years. The balance outstanding is £481,098 12024.. £485,000). Also included is a
bounce bank loan at an interest rate of 2.50A per annum and repayable over 5 years.
The balan￿ OLrtstanding is £16,841 {2024.' £26,931}.
36

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
19. FUNDS ANALYSIS
Group
Balan￿ at
1 April
2024
Balance at
31 March
2025
Income
Expenditure
Transfers
Unrestricted funds
General funds
5,041,S96 1,385,931
{3,347,4S61
151) 3,080,020
Restricted funds
Capital expenditure
VRU Strong Futures
Walcot Foundation
Wandsworth Council
Wimbledon
Foundation
33,809
3,107
19481
(90,355)
{12,116)
(10,051)
32,861
87,248
20,000
10,000
7,884
51
10,000
10,000
36,916
127 248
113,470
51
5,078,512 1,513,179
3,460,926
3,130,765
Charity
Balan
at 1 April
2024
Balance at
31 March
2025
Income
Expenditure
Transfers
Unrestrictod funds
General funds
Restricted funds
Capital expenditure
VRU Strong Futures
Walcot Foundation
Wandsworth Council
Wimbledon
Foundation
645,128
430,145
1328,008)
(511
747,214
33,809
3,107
(9481
190,3551
112,1161
110,0511
32,861
87,248
20,000
10,000
7,884
51
10,000
127,248
10,000
113,470
51
682,044
557,393
441,478
797,959
37

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
20. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Group
Unrestricted Restricted
Total
Tangible fixed assets
Other net assetsllliabilities)
4,097,830
(1,017,810)
3,080,020
4,097,830
50,745
(967,065)
50,745 3,130,765
Charity
Unrestricted
Restricted
Tolal
Tangible fixed assets
Other net assetsllliabilities)
3,620
743,594
747,214
3,620
50,745 794,339
50,745 797,959
21. MEMBERS, LIABILITY
The charity does not have share capital and is limited by guarantee. In the event
ofthe charity being wound up, the maximum amountwhich each member is liable
to contribute is 50p. There were 10 members as at 31 March 2025.
22. TRADING ACTIVITIES OF SUBSIDIARY
The charity has a trading subsidiary Trident Business Cenlre Limited which is
incorporated in the UK. Audited accounts have been filed with the Registrar of
Companies.
A summary of trading results is set out below'.-
2025
2024
Turnover
Cost of Sales
Gross Profit
1,377,289
1467,289)
910,000
1,322,239
(437,6991
884,540
Administration expenses
Other operating income
Interest receivable
Interest payable
(564,445)
42,744
487
{54,099)
(456,0031
33,644
170
(54,002)
Net profit
334,687
408,349
38

Business Launchpad Limitsd
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
22.TRADING ACTIVITIES OF SUBSIDIARY- CONTINUED
Revaluation of long leasehold property
11,990,000)
1420,000)
Charitable payment to Business Launchpad Limited
(408,349)
Surplusl{Deficitl retained in subsidiary
12,063.662)
{11.651)
The net assets and liabilities of the subsidiary were'.-
2025
2024
T8ngible fixed assets
Current assets
Current liabilities
Liabilities due after more than one year
Government grants deferred income
4,094,210
539.423
{1,191,1141
{478.288}
{631,421 }
6,157,987
418,229
{1,008,065)
{497,514)
{674,165)
Net assels
2,332,810
4,396,472
Share capital
Reserves..
Distributable
Un-distributable {Revaluation reserve)
531,946
1,800,862
605,608
3,790,862
Aggregate share capital and reserves
2,332,810
4,396,472
39