## **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:
1. **Improving life skills** - Provide inspiration and support for local people who wish to develop new skills and new ways of enriching their lives.
2. **Reduce isolation** - Offer a supportive, dignified space where people feel comfortable and valued.
3. **Better wellbeing** - Contribute towards the greater wellbeing of people that use our services.
4. **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
- 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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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...
Page 10
**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...
Page 11
**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|
|---|---|
Page 16
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...
Page 17
**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
Page 19
**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