REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
KEY ENTERPRISES (1983) LIMITED
KEY ENTERPRISES (1983) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 to 9 |
| Notes to the Financial Statements | 10 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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 2023. 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 and values
Key Enterprises' goal is to provide the best day service and support the greatest number of people with mental health needs, learning disabilities and acquired brain injuries in the North East of England within the resources available to it.
We aim to build a culture of positivity and inclusion and make Key Enterprises the primary day service provider within North Tyneside.
There are four strategic outcomes that we work towards:
-
Improving life skills - Provide inspiration and support for local people who wish to develop new skills and new ways of enriching their lives.
-
Reduce isolation - Offer a supportive, dignified space where people feel comfortable and valued.
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Better wellbeing - Contribute towards the greater wellbeing of people that use our services.
-
Increased Opportunities - Enable social participation by providing opportunities to engage in social, cultural and educational activities.
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 - ensuring that the individual needs of anyone accessing Key Enterprises are met. Responsive - ensuring our services are fit-for-purpose, valued and driven by need. Transparent - ensuring stakeholders know, feel part of and understand how we operate. Accessible - ensuring that we maximise awareness of Key Enterprises amongst the wider community.
Significant activities
The principal activities undertaken by the company to deliver its objectives are:
a) the provision of day services for adults with metal health needs, 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 to lead more fulfilled lives.
To deliver these activities in 2023-24 the company will:
-
a) Continue to raise awareness of the company's services and ensure all relevant referring bodies are continually aware of our changing service offer;
-
b) maintain robust management processes, policies and procedures are in place to effectively enable the company to operate safely;
-
c) ensure that access to the provided services is maximised, services remain fit-for-purpose and provide quality outcomes; and
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d) ensure that the Company is well placed to thrive following the effects of the cost of living crisis.
Page 1
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
OBJECTIVES AND ACTIVITIES
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
The Company has successfully navigated the pandemic so far and is now delivering services on par with those in March 2019. Biosecurity demands and social distancing precluded an appropriate catering service being sustained and the facility has yet to reopen. A review of options to meet the social and nutritional aspects of daily food is underway with a likely resumption of an independent living skills and nutritional offer in 2023.
Some additional Infection Prevention and Control (IPC) measures remain in place in order to comply with current best practice for the control of all infectious diseases. These measures will be reviewed in an ongoing manner and steps taken to modify or add elements as per public health guidance.
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 50. There exists some additional capacity. Efforts are ongoing to maximise uptake of these places. K|E offers a service which gives excellent value, is impactful and is well regarded by service users and referrers 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, although the new Framework of services will allow K|E, and a limited number of providers to implement a full review of it's fees.
Relationships with local Commissioning Managers are positive with regular dialogue around service delivery, capacity and outcomes.
Page 2
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
ACHIEVEMENT AND PERFORMANCE
General
As the restrictive operational environment eased the Company took the opportunity to review its future service delivery 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 has being initiated, developing and expanding on the social, sporting, and community activities which are currently offered to service users by incorporating a rolling programme of cultural, creative and educational activities. This curated, service-user led offer has been well received with new and existing service users and provides additional opportunities providing positive, meaningful outcomes as well as demonstrating to stakeholders our willingness to move forward when considering how to meet the future needs of beneficiaries.
Additionally, when the Company resumed a full service in September 2021 all service users were consulted on their attendance with the aim of placing them in the working department that met their needs. This review lead to full 5-day operations and all full-time staff moved to 37.5 hour working weeks thus increasing capacity and providing additional, flexible opportunities for service users. Limits on staff to service user ratios were reviewed and capped at 6 to ensure safety and effective delivery both balanced and reflective of the needs of current service users.
This period has seen some staffing challenges as a result of the ongoing impact of Covid-19. The Company has responded with the development of a bank of Cover Supervisors and we aim to have 4-6 staff to call on to cover for sickness and annual leave as simply covering from within our existing staff pool was unsustainable with changes to ratios.
Despite the challenges and changes to the composition of the staff team the Company has adapted well to the post-restriction environment and the coming period represents an opportunity to revisit aspirational elements of our business plan such as the development of a service for women and the resumption of out of area referrals.
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 £65,000. This policy will be reviewed from time to time.
At the end of 2023, the net current assets balance at some £111,893. Indications are that the company will be able to sustain a general reserve of £65,000 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 of this reserve is £30,000.
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 2022-23 the company had a surplus of £7,434 on total income of £347,449.
The underlying position for the year was £366,008 in reserves.
Page 3
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
FUTURE PLANS
Planned future financial position
The financial outlook for 2023-24 does not give any immediate grounds for concern. It is a long-term aspiration of the company to review its charging policy to ensure commercial revenue is for reinvestment rather than being relied on to cover operational costs. Work on this change will place the Company on a firm financial footing and will take place during the coming year.
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 remains problematic. However the current trustees will endeavour to engage at least one new trustee 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 qualified Finance Officer to provide effective financial administration of the Company.
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 4
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Trustees
Peter John Andrew chairperson Maggie Wakeley deputy chairperson Kirsten Andrew treasurer appointed 27 September 2022 Anoop Puri Elizabeth Liddle
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 19 December 2023 and signed on its behalf by:
P J Andrew - Trustee
Page 5
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 2023.
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 member of the 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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
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
The Institute of Chartered Accountants in England and Wales
Read, Milburn & Co North Shields NE30 1AF
20 December 2023
Page 6
KEY ENTERPRISES (1983) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 1,519 Charitable activities 4 Operation of day service 330,737 Grant income 5,000 Other trading activities 3 10,193 Other income - Total 347,449 EXPENDITURE ON Raising funds 5 13,295 Charitable activities 6 Training 1,985 Activities expenses and equipment 7,098 Staff costs 252,068 Premises and overhead costs 65,569 Grant income - Total 340,015 NET INCOME/(EXPENDITURE) 7,434 RECONCILIATION OF FUNDS Total funds brought forward 358,574 TOTAL FUNDS CARRIED FORWARD 366,008 |
2022 Total funds £ 696 284,507 5,000 25,523 13,928 329,654 12,322 2,633 7,200 263,150 56,287 1,437 343,029 (13,375) 371,949 358,574 |
|---|---|
The notes form part of these financial statements
Page 7
KEY ENTERPRISES (1983) LIMITED
BALANCE SHEET 31 MARCH 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 13 254,115 CURRENT ASSETS Stocks 14 3,100 Debtors 15 26,337 Cash at bank and in hand 94,419 123,856 CREDITORS Amounts falling due within one year 16 (11,963) NET CURRENT ASSETS 111,893 TOTAL ASSETS LESS CURRENT LIABILITIES 366,008 NET ASSETS 366,008 FUNDS 17 Unrestricted funds 366,008 TOTAL FUNDS 366,008 |
2022 Total funds £ 253,953 3,300 15,721 100,118 119,139 (14,518) 104,621 358,574 358,574 358,574 358,574 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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 8
KEY ENTERPRISES (1983) LIMITED
BALANCE SHEET - continued 31 MARCH 2023
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 19 December 2023 and were signed on its behalf by:
P J Andrew - Trustee
The notes form part of these financial statements
Page 9
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest Pound (£).
Going concern
he financial statements have been prepared on a going concern basis. In making their assessment the trustees have reviewed and considered relevant information, including their annual budget and future cash flows. The Trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.
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 Motor vehicles - 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.
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
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.
Financial instruments
All financial assets and financial liabilities of the charity qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2. DONATIONS AND LEGACIES
| Donations 3. OTHER TRADING ACTIVITIES Sales 4. INCOME FROM CHARITABLE ACTIVITIES Operation of day service £ Placements 330,737 Grants - 330,737 |
Grant income £ - 5,000 5,000 |
2023 £ 1,519 2023 £ 10,193 2023 Total activities £ 330,737 5,000 335,737 |
2022 £ 696 2022 £ 25,523 2022 Total activities £ 284,507 5,000 289,507 |
|---|---|---|---|
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
4. INCOME FROM CHARITABLE ACTIVITIES - continued
Grants received, included in the above, are as follows:
| The Edward Gostling Foundation | 2023 £ 5,000 |
2022 £ 5,000 |
|---|---|---|
5. RAISING FUNDS
Other trading activities
| Other trading activities | ||
|---|---|---|
| Opening stock Purchases Closing stock |
2023 £ 3,300 13,095 (3,100) 13,295 |
2022 £ 3,692 11,930 (3,300) |
| 12,322 |
6. CHARITABLE ACTIVITIES COSTS
| Training Activities expenses and equipment Staff costs Premises and overhead costs 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) £ 1,985 6,886 131,344 60,554 200,769 |
Support costs (see note 8) £ - 212 120,724 5,015 125,951 2023 £ 130,849 500 1,985 6,386 37,309 6,875 8,395 8,470 200,769 |
Totals £ 1,985 7,098 252,068 65,569 |
|---|---|---|---|
| 326,720 | |||
| 2022 £ 127,285 1,789 2,633 5,411 30,283 5,492 4,431 6,920 |
|||
| 184,244 |
7. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 12
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
8. SUPPORT COSTS
| Governance Management costs £ £ Activities expenses and equipment 212 - Staff costs 120,724 - Premises and overhead costs 3,080 1,935 124,016 1,935 Support costs, included in the above, are as follows: 2023 Activities Premises expenses and and Staff overhead Total equipment costs costs activities £ £ £ £ Wages - 109,532 - 109,532 Social security - 7,845 - 7,845 Pensions - 2,951 - 2,951 Motor and travelling expenses 212 - - 212 Legal and professional - - 177 177 Printing postage stationery and telephone - - 1,587 1,587 Other costs - 396 870 1,266 Grant repaid - - - - Depreciation of tangible and heritage assets - - 446 446 Accountancy and Independent Examiner's fee - - 1,935 1,935 212 120,724 5,015 125,951 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2023 £ Accountancy and Independent Examiner's fee 1,935 Depreciation - owned assets 8,916 Surplus on disposal of fixed assets - |
Totals £ 212 120,724 5,015 125,951 2022 Total activities £ 123,770 6,992 4,039 - 2,142 3,193 2,601 1,437 364 1,925 146,463 2022 £ 1,925 7,283 (267) |
|---|---|
9. NET INCOME/(EXPENDITURE)
continued...
Page 13
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2023 £ 229,785 14,894 6,498 251,177 |
2022 £ 237,235 14,133 10,718 |
|---|---|---|
| 262,086 |
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 £109,217 (2022 - £79,058).
The average monthly number of employees during the year was as follows:
12.
| 2023 | 2022 | |
|---|---|---|
| Supervisors | 5 | 5 |
| Cover supervisors | 4 | 5 |
| Administration | 1 | 1 |
| Managers | 3 | 3 |
| 13 | 14 | |
| 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 | 696 | |
| Charitable activities | ||
| Operation of day service | 284,507 | |
| Grant income | 5,000 | |
| Other trading activities | 25,523 | |
| Other income | 13,928 | |
| Total | 329,654 |
continued...
Page 14
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| EXPENDITURE ON Raising funds Charitable activities Training Activities expenses and equipment Staff costs Premises and overhead costs Grant income Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Long leasehold £ 367,359 - 367,359 121,010 4,735 125,745 241,614 246,349 |
Plant and machinery £ 129,366 2,328 131,694 121,762 2,493 124,255 7,439 7,604 |
Unrestricted fund £ 12,322 2,633 7,200 263,150 56,287 1,437 343,029 (13,375) 371,949 358,574 Motor vehicles Totals £ £ - 496,725 6,750 9,078 6,750 505,803 - 242,772 1,688 8,916 1,688 251,688 5,062 254,115 - 253,953 |
|---|---|---|---|
13. TANGIBLE FIXED ASSETS
Page 15
continued...
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 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 1/4/22 £ Unrestricted funds General fund 358,574 TOTAL FUNDS 358,574 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 347,449 TOTAL FUNDS 347,449 |
2023 2022 £ £ 3,100 3,300 2023 2022 £ £ 19,612 11,904 2,515 - 4,210 3,817 26,337 15,721 2023 2022 £ £ 1,953 5,416 5,194 4,507 - 190 1,916 1,620 2,900 2,785 11,963 14,518 Net movement At in funds 31/3/23 £ £ 7,434 366,008 7,434 366,008 Resources Movement expended in funds £ £ (340,015) 7,434 (340,015) 7,434 |
|---|---|
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continued...
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 371,949 371,949 |
Net movement in funds £ (13,375) (13,375) |
At 31/3/22 £ 358,574 358,574 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 329,654 329,654 |
Resources Movement expended in funds £ £ (343,029) (13,375) (343,029) (13,375) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 371,949 371,949 |
Net movement in funds £ (5,941) (5,941) |
At 31/3/23 £ 366,008 366,008 |
|---|---|---|---|
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 £ 677,103 677,103 |
Resources Movement expended in funds £ £ (683,044) (5,941) (683,044) (5,941) |
|---|---|---|
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
19. ULTIMATE CONTROLLING PARTY
The charitable company is under the control of the trustees.
Page 18
KEY ENTERPRISES (1983) LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 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 |
2023 £ 1,519 10,193 330,737 5,000 335,737 - - - 347,449 3,300 13,095 (3,100) 13,295 120,253 7,049 3,547 500 1,985 6,386 37,309 6,875 8,395 4,498 196,797 |
2022 £ 696 25,523 284,507 5,000 289,507 267 13,661 13,928 329,654 3,692 11,930 (3,300) 12,322 113,465 7,141 6,679 1,789 2,633 5,411 30,283 5,492 4,431 4,498 181,822 |
|---|---|---|
This page does not form part of the statutory financial statements
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KEY ENTERPRISES (1983) LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Charitable activities Brought forward Plant and machinery Motor vehicles Support costs Management Wages Social security Pensions Motor and travelling expenses Legal and professional Printing postage stationery and telephone Other costs Grant repaid Long leasehold Plant and machinery Motor vehicles Governance costs Accountancy and Independent Examiner's fee Total resources expended Net income/(expenditure) |
2023 £ 196,797 2,368 1,604 200,769 109,532 7,845 2,951 212 177 1,587 1,266 - 237 125 84 124,016 1,935 340,015 7,434 |
2022 £ 181,822 2,422 - 184,244 123,770 6,992 4,039 - 2,142 3,193 2,601 1,437 237 127 - 144,538 1,925 343,029 (13,375) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 20