Financial accounts Please click here to see Launchpad's latest report and accounts on the Charity Commission website. Details to June 2016 are as follows: income for the year totalled £696,000 (2015 - £458,649) which included restricted grant income of £274,895 (2015 - £255,255) and unrestricted income of £421,105 (2015 - £199,335) arising from rents, service charges, bank interest and donations. Expenditure for the year totalled £538,499 (2015 - £414,630) of which £223,025 (2015 - £154,156) was restricted expenditure leaving unrestricted expenditure of £315,474 (2015 - £260,474). £90,556 was transferred from restricted to unrestricted funds being mostly capital costs purchased with restricted grants. There was a surplus of £196,187 on unrestricted funds and a deficit of £38,686 on restricted funds which is the result of spending grants received in 2015. The total surplus for the year was £157,501. Net assets at 30th June 2016 totalled £1,126,497 (2015 - £968,996). This included fixed assets of £887,694, debtors of £49,941, cash at bank of £237,745 and liabilities of £48,883. Launchpad's principal sources of income in the last year have been: - ABF The Soldiers' Charity - The Big Lottery Fund - Sir James Knott Trust - Armed Forces Covenant Fund - DHL Express (UK) Ltd - The Royal British Legion - Rental income All expenditure has been used to sustain the activities of the charity, according to its objects. The majority of income is spent on paying rent for Avondale House to the Byker Community Trust, salaries, running costs and capital expenditure.