REGISTERED COMPANY NUMBER: 01774738 (England and Wales) REGISTERED CHARITY NUMBER: 1011012
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR
KEY ENTERPRISES (1983) LIMITED
Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
KEY ENTERPRISES (1983) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 19 |
| Detailed Statement of Financial Activities | 20 to 21 |
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims Mission
Key Enterprises' goal is to provide appropriate, high quality, fulfilling supported activities to the greatest number of people with mental health problems, learning disabilities or acquired brain injuries in the North East of England.
We have 3 aims that we work towards:
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Improving skills and providing opportunity - Delivering supported activities for service users to develop new skills or maintain existing ones in a practical setting.
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Reducing isolation - Offer a supportive, dignified space where people feel comfortable and valued, provide opportunities for social participation and widen horizons with new experiences.
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Increasing wellbeing - Contribute towards the greater wellbeing of service users by providing a quality service and linking up with partner organisations to provide specialist support for identified needs.
We exist to positively engage with anyone who can benefit from our services. Our purpose is to ensure we provide effective services that are:
Person Centred - Meeting the individual needs of anyone accessing Key Enterprises
Responsive - Being fit for purpose, valued and driven by service users.
Transparent - Ensuring stakeholders know, feel part of and understand how we operate.
Accessible - Maximising awareness of Key Enterprises amongst the wider community.
Through our mission and values, we aim to build a culture of excellence and make Key Enterprises a leading supported activity service provider within the North East for people with mental health problems, learning disabilities or acquired brain injuries.
Page 1
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
OBJECTIVES AND ACTIVITIES
Significant activities
The principal activities undertaken by the company to deliver its objectives are:
a) the provision of supported activities for service users with learning disabilities and acquired brain injuries together with community-based activities and structured physical and social activities both within our premises and in other community settings elsewhere; and
b) support as above to people who are suffering mental health problems. Our service users also benefit from developing skills and ongoing support enabling them to lead more fulfilled lives.
To deliver these activities in 2021-22 the company will:
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a) Continue to raise awareness of the company's services and ensure all relevant referring bodies are continually aware of our service offer;
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b) Ensure robust management processes, policies and procedures are in place to effectively enable the company to operate safely,
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c) Ensure that access to the provided services is maximised, services remain fit-for-purpose and provide quality outcomes,
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d) Ensure that the Company remains agile enough to deliver necessary services within the restricted environment imposed by COVID-19.
Public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit.
ACHIEVEMENT AND PERFORMANCE
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Review of activities
Despite the impact of the measures put in place to combat the Covid-19 pandemic the Company has managed to maintain all the activities for service users which were in prior to the outbreak, with the exception of the catering and meals provision. Biosecurity demands and social distancing precluded an appropriate catering service being sustained and the facility has yet to reopen. It is expected to do so in the near future on the appointment of a new member of staff.
Some remaining infection control measures in place to meet public health guidance mean that the service is currently working a little below its full potential but when future guidance indicates that all controls can be lifted there should be no difficulties in returning to the pre-pandemic levels of activity.
Whilst not related to the pandemic second period of lockdown was used to review services and it was decided to discontinue the Furniture Restoration department as a result of waning interest from service users. In its place a formal Activities Service is being initiated, developing and expanding on the social, sporting and community activities which are currently offered to service users.
Page 2
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
ACHIEVEMENT AND PERFORMANCE
Service user numbers
Despite the disruption to operational practices caused by the management of the Covid 19 outbreak, the company has remained financially and organisationally stable and continues to support a consistent level of active service users. The number of regularly attending service users currently stands at 54. There exists some additional capacity. Efforts are ongoing to maximise uptake of these places. K|E offers a service which offers excellent value, is impactful and is well regarded by service users to refer and referrers so the so any spare capacity should be taken up before long
There remains ongoing uncertainty about the impact of the North Tyneside Council financial assessments on our service users, a process that appeared to accelerate during 'lockdown', though presently no negative effects have been felt within the Company.
Local Authority referrers have recognised the additional work K|E was encountering with many of their service users with more complex needs and have accepted an additional £10.00 stipend for all new forensic case referrals.
Covid 19
The rise in cases of Covid-19 during the springtime led to K|E closing as a day service on 24th March 2020. The closure was planned to enable a transition to delivering remote support where our service users were telephone or video called at a frequency of their choosing throughout lockdown. These calls were a lifeline to our service users during an incredibly unsettling time; throughout the period over 4,000 calls were made by K|E staff.
Our COVID 19 response also included taking a lead role in the sectors plans for reopening of day services across North Tyneside, sharing planning and risk assessments with other services and working closely with Commissioners, Public Health and Social Care professionals.
We remodelled sections of our building and invested heavily in PPE and the necessary equipment to make sure we to make us COVID 19 secure. We reopened our provision on 24th August 2020 but with a reduced capacity and staff cohorts in place to maintain daily bio-secure bubbles.
Following the second major lockdown between January and March 2021 the company re-opened with the earlier levels of biosecurity reinstated and operated at the reduced level until it became possible to begin to operate at a service level only slightly below that in operation before the Covid 19 outbreak began. However, high levels of biosecurity are still being maintained to offer protection to both staff and service users.
To support some of these changes we successfully secured £5,000 in grant funding as well as £700 from a crowdfunding campaign. These funds will be used to provide equipment such as tablets to some service users as a means of enabling virtual face to face contact which we know is so important especially for our most vulnerable service users.
Page 3
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
ACHIEVEMENT AND PERFORMANCE
General
2020-21 saw other positive change at K|E:-
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a) The ongoing development and maintenance of quality, sustainable links with health and social care professionals and commissioners continued with excellent feedback provided on our service.
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b) Delivery of a wide range of service user lead out-of-centre activities including many local and regional trips.
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c) A Local Authority inspection which validated the significant improvement in service and which will provide the blueprint for further improvements as we strive to achieve excellence.
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d) A restructure of non-service delivery roles that led to the recruitment of a qualified Finance Officer and an Administration Officer to better meet the operation needs of the Company.
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e) Ongoing investment in equipment across the Company as part of an equipment replacement schedule to ensure all equipment is safe, up to date and is able to meet the needs of our working departments.
FINANCIAL REVIEW
Reserves policy
The existing policy of the Board is to establish a position where the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the company should have a value equal to a minimum of three months of the resources expended annually. This General Reserve currently broadly equates to £33,000. This policy will be reviewed from time to time.
At the end of 2020-21, the net current assets balance at some £113,818. Indications are that the company will be able to sustain a general reserve of £33,000 from within this sum for the foreseeable future.
The Trustees have recognised that in addition to the General Reserve, needed to protect the stability of the business and conform to Charity Commission guidelines, the company also needs to establish a smaller Development Reserve to enable it to proceed with relevant service developments when the opportunity arises. The target value and terms of operation of this reserve will be defined before the end of 2021-22.
Cash balances not required for working capital purposes are retained in a bank account offering higher interest rates but still offering accessibility if required.
Overview
During 2020-21 the company made a surplus of £77,385 on total income of £393,761.
The underlying position for the year was £371,949 in reserves.
FUTURE PLANS
Planned future financial position
The financial outlook for 2021-22 does not give any immediate grounds for concern. Beyond 31 March 2022, 2022-23 should present no problems financially but in the longer term financial stability of the company will depend on the local authority being able to provide appropriate levels of funding for service users and potential service users.
Additionally, the coming year is likely to generate levels of price inflation (particularly energy) which will need to be tightly monitored.
Page 4
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The company is constituted under a Memorandum of Association dated 1 December 1983 and is a registered charity number England and Wales - 1011012.
Recruitment and appointment of new trustees
The management of the company is the responsibility of the trustees. Any current trustee is entitled to nominate a prospective trustee, appointments being made by a simple majority of current members at a members' meeting. The trustees hold no shares in the charitable company but each trustee, as a member, is a guarantor of the company to an amount not exceeding £1 in the event of the company winding up.
The recruitment and retention of trustees has over the past few years been problematic. However the current trustees will endeavour to engage at least one new trustees for the charity in each of the next four years.
Organisational structure
The management structure of the company is as follows:
The Board of Trustees
The Board of Trustees gives overall policy and development direction to the company. It sets the top level targets and performance criteria and ensures compliance with the company's Memorandum and Articles of Association and its statutory obligations. It currently meets quarterly. The current Trustees are managing to discharge their responsibilities appropriately but they recognise that people with certain key skills would help give a deeper pool of experience. As a result there will be a drive to recruit a small number of additional Directors over the coming year.
The Management Team
The management of the organisation is comprised of a Chief Executive, Service Manager and Assistant Manager supported by a part-time Finance Officer.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01774738 (England and Wales)
Registered Charity number
1011012
Registered office
Unit 36 Bellingham Drive North Tyne Industrial Estate Newcastle-upon-Tyne NE12 9SZ
Page 5
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
Trustees
Peter John Andrew chairperson Maggie Wakeley deputy chairperson Jane Gallagher Anoop Puri Heather Peters Elizabeth Liddle
resigned 24 May 2021 resigned 15 December 2020
Company secretary and trustee Patrick Kilgallon
Chief executive Anthony Robinson
Independent Examiner
Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
Bankers
Unity Trust Bank plc Nine Brindleyplace Birmingham B1 2HB
Solicitors
Hadaway & Hadaway 58 Howard Street North Shields Tyne and Wear NE30 1AL
Approved by order of the board of trustees on 11 December 2021 and signed on its behalf by:
P J Andrew - Trustee
Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KEY ENTERPRISES (1983) LIMITED
Independent examiner's report to the trustees of Key Enterprises (1983) Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicholas Liley FCA Institute of Chartered Accountants in England and Wales Read, Milburn & Co North Shields NE30 1AF
20 December 2021
Page 7
KEY ENTERPRISES (1983) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 608 Charitable activities 4 Operation of day service 282,983 Grant income 11,152 Other trading activities 3 11,999 Other income 87,019 Total 393,761 EXPENDITURE ON Raising funds 5 6,492 Charitable activities 6 Training 1,186 Activities expenses and equipment 7,240 Staff costs 238,429 Premises and overhead costs 63,029 Total 316,376 NET INCOME/(EXPENDITURE) 77,385 RECONCILIATION OF FUNDS Total funds brought forward 294,564 TOTAL FUNDS CARRIED FORWARD 371,949 |
2020 Total funds £ 3,369 273,081 4,415 50,971 7,867 339,703 29,559 4,459 20,047 232,068 55,977 342,110 (2,407) 296,971 294,564 |
|---|---|
The notes form part of these financial statements
Page 8
KEY ENTERPRISES (1983) LIMITED
BALANCE SHEET 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Stocks 14 Debtors 15 Cash at bank and in hand CREDITORS Amounts falling due within one year 16 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 17 Unrestricted funds TOTAL FUNDS |
2021 Total funds £ 258,131 3,692 5,211 119,361 128,264 (14,446) 113,818 371,949 371,949 371,949 371,949 |
2020 Total funds £ 261,366 3,430 22,581 21,969 47,980 (14,782) 33,198 294,564 294,564 294,564 294,564 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 9
KEY ENTERPRISES (1983) LIMITED
BALANCE SHEET - continued 31 MARCH 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 11 December 2021 and were signed on its behalf by:
P J Andrew - Trustee
The notes form part of these financial statements
Page 10
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property Plant and machinery - 25% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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 the charity. Restrictions 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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 11
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 2. DONATIONS AND LEGACIES Donations 3. OTHER TRADING ACTIVITIES Sales 4. INCOME FROM CHARITABLE ACTIVITIES Operation of day service £ Placements 282,983 Grants - 282,983 Grants received, included in the above, are as follows: The Edward Gostling Foundation Crowdfunder Ltd |
Grant income £ - 11,152 11,152 |
2021 £ 608 2021 £ 11,999 2021 Total activities £ 282,983 11,152 294,135 2021 £ 10,500 652 11,152 |
2020 £ 3,369 2020 £ 50,971 2020 Total activities £ 273,081 4,415 277,496 2020 £ 4,415 - 4,415 |
|---|---|---|---|
continued...
Page 12
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
5. RAISING FUNDS
Other trading activities
| Opening stock Purchases Closing stock |
2021 £ 3,430 6,754 (3,692) 6,492 |
2020 £ 3,250 29,739 (3,430) 29,559 |
|---|---|---|
6. CHARITABLE ACTIVITIES COSTS
| Training Activities expenses and equipment Staff costs Premises and overhead costs 7. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Workshop expenses Attenders payments and meals Motor and travelling expenses Premises costs Printing postage stationery and telephone Other costs Depreciation |
Direct Costs (see note 7) £ 1,186 7,220 136,217 51,299 195,922 |
Support costs (see note 8) £ - 20 102,212 11,730 113,962 2021 £ 135,524 1,929 1,186 6,939 29,768 6,381 7,457 6,738 195,922 |
Totals £ 1,186 7,240 238,429 63,029 309,884 2020 £ 129,907 5,985 4,459 13,494 27,734 6,527 8,667 6,261 203,034 |
|---|---|---|---|
continued...
Page 13
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
8. SUPPORT COSTS
| Governance Management costs £ £ Activities expenses and equipment 20 - Staff costs 102,212 - Premises and overhead costs 9,830 1,900 112,062 1,900 Support costs, included in the above, are as follows: 2021 Activities Premises expenses and and Staff overhead Total equipment costs costs activities £ £ £ £ Wages - 91,862 - 91,862 Social security - 6,020 - 6,020 Pensions - 3,934 - 3,934 Motor and travelling expenses 20 - - 20 Legal and professional - - 4,743 4,743 Printing postage stationery and telephone - - 3,916 3,916 Other costs - 396 816 1,212 Depreciation of tangible and heritage assets - - 355 355 Accountancy and Independent Examiner's fee - - 1,900 1,900 20 102,212 11,730 113,962 |
Totals £ 20 102,212 11,730 113,962 2020 Total activities £ 90,701 6,789 1,422 568 1,180 2,619 4,033 330 1,875 109,517 |
|---|---|
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Accountancy and Independent Examiner's fee Depreciation - owned assets Surplus on disposal of fixed assets |
2021 £ 1,900 7,093 - |
2020 £ 1,875 6,591 (867) |
|---|---|---|
continued...
Page 14
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2021 £ 213,844 12,433 11,063 237,340 |
2020 £ 211,033 13,003 4,783 |
|---|---|---|
| 228,819 |
The charity's key management personnel comprise the Trustees and the General and Service Managers. The total employee benefits of the key management personnel were £72,459 (2020 - £71,370).
The average monthly number of employees during the year was as follows:
12.
| 2021 | 2020 | |
|---|---|---|
| Workshop staff | 7 | 7 |
| Administration | 2 | 2 |
| Managers | 2 | 2 |
| 11 | 11 | |
| No employees received emoluments in excess of £60,000. | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | |
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 3,369 | |
| Charitable activities | ||
| Operation of day service | 273,081 | |
| Grant income | 4,415 | |
| Other trading activities | 50,971 | |
| Other income | 7,867 | |
| Total | 339,703 |
Page 15
continued...
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES - continued | ACTIVITIES - continued | ACTIVITIES - continued |
|---|---|---|---|---|---|
| Unrestricted | |||||
| fund | |||||
| £ | |||||
| EXPENDITURE ON | |||||
| Raising funds | 29,559 | ||||
| Charitable activities | |||||
| Training | 4,459 | ||||
| Activities expenses and equipment | 20,047 | ||||
| Staff costs | 232,068 | ||||
| Premises and overhead costs | 55,977 | ||||
| Total | 342,110 | ||||
| NET INCOME/(EXPENDITURE) | (2,407) | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 296,971 | ||||
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 294,564 | ||||
| 13. | TANGIBLE FIXED ASSETS | ||||
| Long | Plant and | ||||
| leasehold | machinery | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 April 2020 | 367,359 | 122,403 | 489,762 | ||
| Additions | - | 3,858 | 3,858 | ||
| At 31 March 2021 | 367,359 | 126,261 | 493,620 | ||
| DEPRECIATION | |||||
| At 1 April 2020 | 111,540 | 116,856 | 228,396 | ||
| Charge for year | 4,735 | 2,358 | 7,093 | ||
| At 31 March 2021 | 116,275 | 119,214 | 235,489 | ||
| NET BOOK VALUE | |||||
| At 31 March 2021 | 251,084 | 7,047 | 258,131 | ||
| At 31 March 2020 | 255,819 | 5,547 | 261,366 |
Page 16
continued...
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 14. STOCKS Raw materials 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors VAT Prepayments and accrued income 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Other creditors Accruals and deferred income 17. MOVEMENT IN FUNDS At 1/4/20 £ Unrestricted funds General fund 294,564 TOTAL FUNDS 294,564 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 393,761 TOTAL FUNDS 393,761 |
2021 2020 £ £ 3,692 3,430 2021 2020 £ £ 2,117 20,558 - 145 3,094 1,878 5,211 22,581 2021 2020 £ £ 3,843 5,566 4,448 3,829 1,001 - 2,361 1,138 2,793 4,249 14,446 14,782 Net movement At in funds 31/3/21 £ £ 77,385 371,949 77,385 371,949 Resources Movement expended in funds £ £ (316,376) 77,385 (316,376) 77,385 |
|---|---|
continued...
Page 17
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/19 £ 296,971 296,971 |
Net movement in funds £ (2,407) (2,407) |
At 31/3/20 £ 294,564 294,564 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 339,703 339,703 |
Resources Movement expended in funds £ £ (342,110) (2,407) (342,110) (2,407) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/19 £ 296,971 296,971 |
Net movement in funds £ 74,978 74,978 |
At 31/3/21 £ 371,949 371,949 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 733,464 733,464 |
Resources Movement expended in funds £ £ (658,486) 74,978 (658,486) 74,978 |
|---|---|---|
continued...
Page 18
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
19. ULTIMATE CONTROLLING PARTY
The charitable company is under the control of the trustees.
Page 19
KEY ENTERPRISES (1983) LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Sales Charitable activities Placements Grants Other income Gain on sale of tangible fixed assets Other income Total incoming resources EXPENDITURE Other trading activities Opening stock Purchases Closing stock Charitable activities Wages Social security Pensions Workshop expenses Attenders payments and meals Motor and travelling expenses Premises costs Printing postage stationery and telephone Other costs Long leasehold Carried forward |
2021 £ 608 11,999 282,983 11,152 294,135 - 87,019 87,019 393,761 3,430 6,754 (3,692) 6,492 121,982 6,413 7,129 1,929 1,186 6,939 29,768 6,381 7,457 4,498 193,682 |
2020 £ 3,369 50,971 273,081 4,415 277,496 867 7,000 7,867 339,703 3,250 29,739 (3,430) 29,559 120,332 6,214 3,361 5,985 4,459 13,494 27,734 6,527 8,667 4,498 201,271 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 20
KEY ENTERPRISES (1983) LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Charitable activities Brought forward Plant and machinery Support costs Management Wages Social security Pensions Motor and travelling expenses Legal and professional Printing postage stationery and telephone Other costs Long leasehold Plant and machinery Governance costs Accountancy and Independent Examiner's fee Total resources expended Net income/(expenditure) |
2021 £ 193,682 2,240 195,922 91,862 6,020 3,934 20 4,743 3,916 1,212 237 118 112,062 1,900 316,376 77,385 |
2020 £ 201,271 1,763 203,034 90,701 6,789 1,422 568 1,180 2,619 4,033 237 93 107,642 1,875 342,110 (2,407) |
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This page does not form part of the statutory financial statements
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