## **REPORT OF THE DIRECTORS AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
**FOR**
**KEY ENTERPRISES (1983) LIMITED**
**KEY ENTERPRISES (1983) LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
||**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 19|
|**Detailed Statement of Financial Activities**|20 to 21|
## **KEY ENTERPRISES (1983) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
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 2024. 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 mental 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 2024-25 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 2024**
## **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 continues to deliver services to adults with learning disabilities / difficulties, mental health needs and acquired brain injuries.
Service users can choose to participate in woodwork, metalwork, bike maintenance, horticulture and a range of creative arts.
## **Service user numbers**
The company is 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 42 which is a drop over previous years but has been balanced by additional placement time among existing service users. There exists some additional capacity and 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 the management focus of the next 12 months will be ensuring the service is designed to meet existing and future need.
Relationships with local Commissioning Managers are positive with regular dialogue around service delivery, capacity and outcomes.
## **General**
The Company has continued to evolve and develop services responding to service user need and demand. The implementation of music therapy has been an unqualified success and funding has been secured to ensure that it continues into next year.
Creative arts has been an area of growth and K|E is focussed on ensuring effective delivery of this service that may require an additional site. The first performances produced by this group were sold out and showcased the ability of staff and service users to family, friends, colleagues, members of the public and local decision makers.
Existing departments continue to deliver positive work-based experiences for service users. There has be a transition to a more flexible approach to working that is demand led. The increase in gardening work necessitate the utilisation of additional staff from other areas and has resulted in a more integrative approach with resulting benefits.
The diversity of the workforce has supported an increasingly ambitious programme of activities. In 2018, the workforce was 73% male with an average age of over 50. It is now 64% female with an average age of 31. This change has facilitated new ideas and will drive the service forward in the coming years.
Page 2
**KEY ENTERPRISES (1983) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **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 2024, the net current assets balance at some £83,196. 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 established a smaller Development Reserve to enable The Company 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 2023-24 the company had a deficit of £35,602 on total income of £394,179.
The underlying position for the year was £330,406 in reserves.
## **FUTURE PLANS**
## **Planned future financial position**
The financial outlook for 2024-25 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.
Page 3
**KEY ENTERPRISES (1983) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT 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
## **Trustees**
Peter John Andrew chairperson Maggie Wakeley deputy chairperson Kirsten Andrew treasurer Anoop Puri Cliff Lawrence Janice Mole
appointed 26 March 2024 appointed 26 March 2024
## **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
Page 4
**KEY ENTERPRISES (1983) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
**REFERENCE AND ADMINISTRATIVE DETAILS 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 17 December 2024 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 2024.
## **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
18 December 2024
Page 6
**KEY ENTERPRISES (1983) LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
1,538
**Charitable activities**
4
Operation of day service
377,516
Grant income
6,500
Other trading activities
3
8,322
Other income
303
**Total**
394,179
**EXPENDITURE ON**
Raising funds
5
26,994
**Charitable activities**
6
Training
1,728
Activities expenses and equipment
10,249
Staff costs
281,484
Premises and overhead costs
109,326
**Total**
429,781
**NET INCOME/(EXPENDITURE)**
(35,602)
**RECONCILIATION OF FUNDS**
Total funds brought forward
366,008
**TOTAL FUNDS CARRIED FORWARD**
330,406|2023
Total
funds
£
1,519
330,737
5,000
10,193
-
347,449
13,295
1,985
7,098
252,068
65,569
340,015
7,434
358,574
366,008|
|---|---|
The notes form part of these financial statements
Page 7
## **KEY ENTERPRISES (1983) LIMITED**
## **BALANCE SHEET 31 MARCH 2024**
|2024
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
13
247,210
**CURRENT ASSETS**
Stocks
14
3,545
Debtors
15
21,350
Cash at bank and in hand
117,153
142,048
**CREDITORS**
Amounts falling due within one year
16
(58,852)
**NET CURRENT ASSETS**
83,196
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
330,406
**NET ASSETS**
330,406
**FUNDS**
17
Unrestricted funds
330,406
**TOTAL FUNDS**
330,406|2023
Total
funds
£
254,115
3,100
26,337
94,419
123,856
(11,963)
111,893
366,008
366,008
366,008
366,008|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 2024**
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 17 December 2024 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 2024**
## **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 2024**
## **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
377,516
Grants
-
377,516|Grant
income
£
-
6,500
6,500|2024
£
1,538
2024
£
8,322
2024
Total
activities
£
377,516
6,500
384,016|2023
£
1,519
2023
£
10,193
2023
Total
activities
£
330,737
5,000
335,737|
|---|---|---|---|
continued...
Page 11
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **4. INCOME FROM CHARITABLE ACTIVITIES - continued**
Grants received, included in the above, are as follows:
|**INCOME FROM CHARITABLE ACTIVITIES - continued**
Grants received, included in the above, are as follows:|||
|---|---|---|
|R W Mann
The Edward Gostling Foundation|2024
£
1,500
5,000
6,500|2023
£
-
5,000|
|||5,000|
## **5. RAISING FUNDS**
|**Other trading activities**
Opening stock
Purchases
Closing stock|2024
£
3,100
27,439
(3,545)
26,994|2023
£
3,300
13,095
(3,100)
13,295|
|---|---|---|
## **6. CHARITABLE ACTIVITIES COSTS**
|Training
Activities expenses and equipment
Staff costs
Premises and overhead costs|Direct
Costs (see
note 7)
£
1,728
10,249
144,752
61,785
218,514|Support
costs (see
note 8)
£
-
-
136,732
47,541
184,273|Totals
£
1,728
10,249
281,484
109,326|
|---|---|---|---|
||||402,787|
continued...
Page 12
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|**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|2024
£
144,199
1,898
1,728
8,351
40,361
6,878
7,317
7,782
218,514|2023
£
130,849
500
1,985
6,386
37,309
6,875
8,395
8,470|
|||200,769|
## **8. SUPPORT COSTS**
|Governance
Management
costs
£
£
Staff costs
136,732
-
Premises and overhead costs
45,601
1,940
182,333
1,940
Support costs, included in the above, are as follows:
2024
Premises
and
Staff
overhead
Total
costs
costs
activities
£
£
£
Wages
124,182
-
124,182
Social security
8,912
-
8,912
Pensions
3,242
-
3,242
Motor and travelling expenses
-
-
-
Legal and professional
-
177
177
Printing postage stationery and
telephone
-
1,225
1,225
Other costs
396
1,043
1,439
Irrecoverable vat
-
42,746
42,746
Depreciation of tangible and heritage
assets
-
410
410
Accountancy and Independent
Examiner's fee
-
1,940
1,940
136,732
47,541
184,273|Totals
£
136,732
47,541
184,273
2023
Total
activities
£
109,532
7,845
2,951
212
177
1,587
1,266
-
446
1,935
125,951|
|---|---|
Support costs, included in the above, are as follows:
continued...
Page 13
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Accountancy and Independent Examiner's fee
Depreciation - owned assets|2024
£
1,940
8,192|2023
£
1,935
8,916|
|---|---|---|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **11. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2024
£
257,770
16,149
6,616
280,535|2023
£
229,785
14,894
6,498|
|||251,177|
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 £120,122 (2023 - £109,217).
The average monthly number of employees during the year was as follows:
|Supervisors
Cover supervisors
Administration
Managers|2024
5
4
1
3
13|2023
5
4
1
3|
|---|---|---|
|||13|
No employees received emoluments in excess of £60,000.
continued...
Page 14
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**12.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||**INCOME AND ENDOWMENTS FROM**||
||Donations and legacies|1,519|
||**Charitable activities**||
||Operation of day service|330,737|
||Grant income|5,000|
||Other trading activities|10,193|
||**Total**|347,449|
||**EXPENDITURE ON**||
||Raising funds|13,295|
||**Charitable activities**||
||Training|1,985|
||Activities expenses and equipment|7,098|
||Staff costs|252,068|
||Premises and overhead costs|65,569|
||**Total**|340,015|
||**NET INCOME**|7,434|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|358,574|
||**TOTAL FUNDS CARRIED**||
||**FORWARD**|366,008|
Page 15
continued...
## **KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**13.**
**TANGIBLE FIXED ASSETS**
Long
Plant and
leasehold
machinery
£
£
**COST**
At 1 April 2023
367,359
131,694
Additions
-
1,287
At 31 March 2024
367,359
132,981
**DEPRECIATION**
At 1 April 2023
125,745
124,255
Charge for year
4,735
2,191
At 31 March 2024
130,480
126,446
**NET BOOK VALUE**
At 31 March 2024
236,879
6,535
At 31 March 2023
241,614
7,439
**14.**
**STOCKS**
Raw materials
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
VAT
Prepayments and accrued income||Motor
vehicles
£
6,750
-
6,750
1,688
1,266
2,954
3,796
5,062
2024
£
3,545
2024
£
15,805
-
5,545
21,350|Totals
£
505,803
1,287
507,090
251,688
8,192
259,880
247,210
254,115
2023
£
3,100
2023
£
19,612
2,515
4,210
26,337|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
Page 16
continued...
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income|2024
£
12,562
5,590
38,513
237
1,950
58,852|2023
£
1,953
5,194
-
1,916
2,900|
|---|---|---|
|||11,963|
## **17. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/23
£
366,008
366,008|Net
movement
in funds
£
(35,602)
(35,602)|At
31/3/24
£
330,406|
|---|---|---|---|
||||330,406|
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
394,179
394,179|Resources
Movement
expended
in funds
£
£
(429,781)
(35,602)
(429,781)
(35,602)|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/22
£
358,574
358,574|Net
movement
in funds
£
7,434
7,434|At
31/3/23
£
366,008|
|---|---|---|---|
||||366,008|
continued...
Page 17
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
347,449
347,449|Resources
Movement
expended
in funds
£
£
(340,015)
7,434
(340,015)
7,434|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/22
£
358,574
358,574|Net
movement
in funds
£
(28,168)
(28,168)|At
31/3/24
£
330,406|
|---|---|---|---|
||||330,406|
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
£
741,628
741,628|Resources
Movement
expended
in funds
£
£
(769,796)
(28,168)
(769,796)
(28,168)|
|---|---|---|
continued...
Page 18
**KEY ENTERPRISES (1983) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
## **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 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Sales
**Charitable activities**
Placements
Grants
**Other income**
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
Plant and machinery
Motor vehicles|2024
£
1,538
8,322
377,516
6,500
384,016
303
394,179
3,100
27,439
(3,545)
26,994
133,588
7,237
3,374
1,898
1,728
8,351
40,361
6,878
7,317
4,498
2,081
1,203
218,514|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
2,368
1,604
200,769|
|---|---|---|
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 2024**
|**Support costs**
**Management**
Wages
Social security
Pensions
Motor and travelling expenses
Legal and professional
Printing postage stationery and telephone
Other costs
Irrecoverable vat
Long leasehold
Plant and machinery
Motor vehicles
**Governance costs**
Accountancy and Independent Examiner's
fee
Total resources expended
**Net (expenditure)/income**|2024
£
124,182
8,912
3,242
-
177
1,225
1,439
42,746
237
110
63
182,333
1,940
429,781
(35,602)|2023
£
109,532
7,845
2,951
212
177
1,587
1,266
-
237
125
84
124,016
1,935
340,015
7,434|
|---|---|---|
This page does not form part of the statutory financial statements
Page 21