UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR
KEY ENTERPRISES (1983) LIMITED
KEY ENTERPRISES (1983) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 to 9 |
| Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 to 21 |
| Detailed Statement of Financial Activities | 22 to 23 |
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
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 2025. 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:
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Improving life skills - Provide inspiration and support for local people who wish to develop new skills and new ways of enriching their lives.
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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.
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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 2025-26 the company will:
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a) Continue to raise awareness of the company's services and ensure all relevant referring bodies are continually aware of our changing service offer;
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b) maintain robust management processes, policies and procedures are in place to effectively enable the company to operate safely;
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c) ensure that access to the provided services is maximised, services remain fit-for-purpose and provide quality outcomes; and
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d) ensure that the Company is well placed to thrive following changes to the benefit system.
Page 1
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
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.
ACHIEVEMENTS 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 workshop activities, horticulture, outdoor pursuits, life skills and 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 48 which is an increase from the previous year of 42.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 refining the service offer following an evaluation of service delivery and the associated resources.
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.
Changing needs of those accessing our service has led to changes to our service provision which is now more balanced and offers the widest number of opportunities given the space we operate in.
Creative arts continue to showcase the capabilities of those accessing K|E and saw elevation in the production values of our now annual showcase. The goal of our creative offer will be to demonstrate the ability of service users to the widest possible audience thereby raising awareness of the service and those with additional needs.
We maintain an offer of work-based services within a workshop and horticultural environment and have added additional outdoor sites to provide a more rounded experience. The rebalancing of the service offer, following the needs of service users, has resulted in metalwork and bike maintenance closing being replaced by a larger and broader workshop offer and an outdoor pursuits programme.
The diversity of the workforce continues to evolve to reflect a modern and varied culture which leads to a broader and more inclusive programme of services.
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 2025
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 2025, the net current assets balance at some £203,794. 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 2024-25 the company had a surplus of £98,554 on total income of £552,400.
The underlying position for the year was £428,960 in reserves.
FUTURE PLANS
Planned future financial position
The financial outlook for 2026-27 does not give any immediate grounds for concern. The company is financially secure and can respond to any short- or medium-term opportunities or contingencies.
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 2025
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, Funding and Development Manager and Duty 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 resigned 17 December 2024 Kirsten Andrew treasurer Anoop Puri Cliff Lawrence Janice Mole Company secretary and trustee Patrick Kilgallon resigned 21 June 2025 Chief executive Anthony Robinson
Independent Examiner BK Plus Limited Chartered Certified Accountants 13 Windsor Terrace Jesmond Newcastle upon Tyne NE2 4HE
Page 4
KEY ENTERPRISES (1983) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
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 16 December 2025 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 2025.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicholas Liley FCA
The Institute of Chartered Accountants in England and Wales
BK Plus Limited Newcastle upon Tyne NE2 4HE
17 December 2025
Page 6
KEY ENTERPRISES (1983) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 5 Operation of day service Grant income Other trading activities 3 Investment income 4 Other income Total EXPENDITURE ON Raising funds 6 Charitable activities 7 Training Activities expenses and equipment Staff costs Premises and overhead costs Total NET INCOME/(EXPENDITURE) Transfers between funds 19 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 5,734 410,191 14,000 18,467 1,606 353 450,351 27,821 5,488 13,899 316,094 90,544 453,846 (3,495) 74,860 71,365 330,406 401,771 |
Restricted fund £ 100,000 - - - 2,049 - 102,049 - - - - - - 102,049 (74,860) 27,189 - 27,189 |
2025 Total funds £ 105,734 410,191 14,000 18,467 3,655 353 552,400 27,821 5,488 13,899 316,094 90,544 453,846 98,554 - 98,554 330,406 428,960 |
2024 Total funds £ 1,538 377,516 6,500 8,322 - 303 394,179 26,994 1,728 10,249 281,484 109,326 429,781 (35,602) - (35,602) 366,008 330,406 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
KEY ENTERPRISES (1983) LIMITED
BALANCE SHEET 31 MARCH 2025
| Notes FIXED ASSETS Tangible assets 14 CURRENT ASSETS Stocks 15 Debtors 16 Cash at bank and in hand CREDITORS Amounts falling due within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 19 Unrestricted funds Restricted funds TOTAL FUNDS |
2025 £ 242,026 7,000 16,610 180,184 203,794 (16,860) 186,934 428,960 428,960 401,771 27,189 428,960 |
2024 £ 247,210 3,545 21,350 117,153 142,048 (58,852) 83,196 330,406 330,406 330,406 - 330,406 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
KEY ENTERPRISES (1983) LIMITED
BALANCE SHEET - continued 31 MARCH 2025
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 16 December 2025 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
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
| Notes Cash flows from operating activities Cash generated from operations 22 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2025 £ 62,292 62,292 (2,916) 3,655 739 63,031 117,153 180,184 |
2024 £ 24,021 24,021 (1,287) - (1,287) 22,734 94,419 117,153 |
|---|---|---|
The notes form part of these financial statements
Page 10
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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 (£).
Going concern
The 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 11
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
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
| Gifts Donations 3. OTHER TRADING ACTIVITIES Sales 4. INVESTMENT INCOME Interest received |
2025 £ 100,000 5,734 105,734 2025 £ 18,467 2025 £ 3,655 |
2024 £ - 1,538 1,538 2024 £ 8,322 2024 £ - |
|||
|---|---|---|---|---|---|
continued...
Page 12
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
5. INCOME FROM CHARITABLE ACTIVITIES
| Operation of day service £ Placements 404,913 Other income 5,278 Grants - 410,191 Grants received, included in the above, are as follows: Sir James Knott R W Mann The Edward Gostling Foundation The Barbour Foundation 6. RAISING FUNDS Other trading activities Opening stock Purchases Closing stock |
Grant income £ - - 14,000 14,000 |
2025 Total activities £ 404,913 5,278 14,000 424,191 2025 £ 5,000 - - 9,000 14,000 2025 £ 3,545 31,276 (7,000) 27,821 |
2024 Total activities £ 377,516 - 6,500 384,016 2024 £ - 1,500 5,000 - 6,500 2024 £ 3,100 27,439 (3,545) 26,994 |
||
|---|---|---|---|---|---|
continued...
Page 13
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 7. CHARITABLE ACTIVITIES COSTS Training Activities expenses and equipment Staff costs Premises and overhead costs 8. 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 9. SUPPORT COSTS Staff costs Premises and overhead costs |
Direct Costs (see note 8) £ 5,488 13,899 163,881 63,895 247,163 Management £ 152,213 24,255 176,468 |
Support costs (see note 9) £ - - 152,213 26,649 178,862 2025 £ 163,304 4,669 5,488 9,230 41,414 8,493 6,870 7,695 247,163 Governance costs £ - 2,394 2,394 |
Totals £ 5,488 13,899 316,094 90,544 426,025 2024 £ 144,199 1,898 1,728 8,351 40,361 6,878 7,317 7,782 218,514 Totals £ 152,213 26,649 178,862 |
|---|---|---|---|
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Wages Social security Pensions Legal and professional Printing postage stationery and telephone Other costs Irrecoverable vat Depreciation of tangible and heritage assets Accountancy and Independent Examiner's fee |
Staff costs £ 137,398 10,648 3,713 - - 454 - - - 152,213 |
Premises and overhead costs £ - - - 2,453 3,343 6,254 11,800 405 2,394 26,649 |
2025 Total activities £ 137,398 10,648 3,713 2,453 3,343 6,708 11,800 405 2,394 178,862 |
2024 Total activities £ 124,182 8,912 3,242 177 1,225 1,439 42,746 410 1,940 184,273 |
|---|---|---|---|---|
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Accountancy and Independent Examiner's fee Depreciation - owned assets |
2025 £ 2,394 8,100 |
2024 £ 1,940 8,192 |
|---|---|---|
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
continued...
Page 15
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 12. STAFF COSTS Wages and salaries Social security costs Other pension costs |
2025 £ 289,259 19,108 6,696 315,063 |
2024 £ 257,770 16,149 6,616 |
|---|---|---|
| 280,535 |
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 £128,523 (2024 - £120,122).
The average monthly number of employees during the year was as follows:
| Supervisors Cover supervisors Administration Managers |
2025 4 4 1 3 12 |
2024 5 4 1 3 |
|---|---|---|
| 13 |
No employees received emoluments in excess of £60,000.
| 13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 1,538 | |
| Charitable activities | ||
| Operation of day service | 377,516 | |
| Grant income | 6,500 | |
| Other trading activities | 8,322 | |
| Other income | 303 | |
| Total | 394,179 | |
| EXPENDITURE ON | ||
| Raising funds | 26,994 | |
| Charitable activities | ||
| Training | 1,728 | |
| Activities expenses and equipment | 10,249 | |
| Staff costs | 281,484 | |
| Premises and overhead costs | 109,326 |
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 14. TANGIBLE FIXED ASSETS COST At 1 April 2024 Additions At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Long leasehold £ 367,359 - 367,359 130,480 4,738 135,218 232,141 236,879 |
Plant and machinery £ 132,981 2,916 135,897 126,446 2,413 128,859 7,038 6,535 |
Motor vehicles £ 6,750 - 6,750 2,954 949 3,903 2,847 3,796 |
Unrestricted fund £ 429,781 (35,602) 366,008 330,406 Totals £ 507,090 2,916 510,006 259,880 8,100 267,980 242,026 247,210 |
|---|---|---|---|---|
continued...
Page 17
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 15. STOCKS Raw materials 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Other creditors Accruals and deferred income 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed assets Current assets Current liabilities |
2025 £ 7,000 2025 £ 11,495 5,115 16,610 2025 £ 5,451 5,411 319 3,275 2,404 16,860 2025 Unrestricted fund £ 242,026 176,605 (16,860) 401,771 |
||
|---|---|---|---|
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
19. MOVEMENT IN FUNDS
| Net movement At 1/4/24 in funds £ £ Unrestricted funds General fund 330,406 (3,495) Restricted funds The Edward Gostling Fund - 102,049 TOTAL FUNDS 330,406 98,554 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 450,351 Restricted funds The Edward Gostling Fund 102,049 TOTAL FUNDS 552,400 Comparatives for movement in funds At 1/4/23 £ Unrestricted funds General fund 366,008 TOTAL FUNDS 366,008 |
Transfers between funds £ 74,860 (74,860) - Resources expended £ (453,846) - (453,846) Net movement in funds £ (35,602) (35,602) |
At 31/3/25 £ 401,771 27,189 428,960 Movement in funds £ (3,495) 102,049 98,554 At 31/3/24 £ 330,406 330,406 |
|---|---|---|
continued...
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KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
19. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 394,179 394,179 |
Resources expended £ (429,781) (429,781) |
Movement in funds £ (35,602) (35,602) |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds The Edward Gostling Fund TOTAL FUNDS |
At 1/4/23 £ 366,008 - 366,008 |
Net movement in funds £ (39,097) 102,049 62,952 |
Transfers between funds £ 74,860 (74,860) - |
At 31/3/25 £ 401,771 27,189 428,960 |
|---|---|---|---|---|
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 Restricted funds The Edward Gostling Fund TOTAL FUNDS |
Incoming resources £ 844,530 102,049 946,579 |
Resources expended £ (883,627) - (883,627) |
Movement in funds £ (39,097) 102,049 62,952 |
|---|---|---|---|
Transfers between funds
The Edward Gostling Fund
On the 24 June 2024 the charity received £100,000 as a 'Deed of Gift' for a period of five years. The Endowment was placed on deposit and in the nine months to 31 March 2025 has earned £2,049 in interest.
continued...
Page 20
KEY ENTERPRISES (1983) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
19. MOVEMENT IN FUNDS - continued
Transfers between funds - continued
The Endowment is to be used to maintain the 'free reserves' of the charity at a level of six months of the charitable expenditure. The charitable expenditure from the commencement of the Endowment was £319,489 (which is nine months of the annual expenditure of £426,025), half of which would be £159,745.
The brought forward reserves were £330,406 less a deficit in the year of £3,495 and less the net book value of the fixed assets of £242,026, leaving 'free reserves' at the year end of £84,885. This represents a shortfall on reserves of £74,860 which has been transferred from the endowment fund to cover the agreed portion of the charitable expenditure which leaves a balance on the fund at the year end of £27,189.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
21. ULTIMATE CONTROLLING PARTY
The charitable company is under the control of the trustees.
22. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in stocks Decrease in debtors (Decrease)/increase in creditors Net cash provided by operations ANALYSIS OF CHANGES IN NET FUNDS At 1/4/24 £ Net cash Cash at bank and in hand 117,153 117,153 Total 117,153 |
2025 £ 98,554 8,100 (3,655) (3,455) 4,740 (41,992) 62,292 Cash flow £ 63,031 63,031 63,031 |
2024 £ (35,602) 8,192 - (445) 4,987 46,889 24,021 At 31/3/25 £ 180,184 180,184 180,184 |
|---|---|---|
23. ANALYSIS OF CHANGES IN NET FUNDS
Page 21
KEY ENTERPRISES (1983) LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Other trading activities Sales Investment income Interest received Charitable activities Placements Other income 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 Carried forward |
2025 £ 100,000 5,734 105,734 18,467 3,655 404,913 5,278 14,000 424,191 353 552,400 3,545 31,276 (7,000) 27,821 151,861 8,460 2,983 4,669 5,488 9,230 41,414 224,105 |
2024 £ - 1,538 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 40,361 196,537 |
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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 2025
| Charitable activities Brought forward Printing postage stationery and telephone Other costs Long leasehold Plant and machinery Motor vehicles Support costs Management Wages Social security Pensions 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 income/(expenditure) |
2025 £ 224,105 8,493 6,870 4,501 2,292 902 247,163 137,398 10,648 3,713 2,453 3,343 6,708 11,800 237 121 47 176,468 2,394 453,846 98,554 |
2024 £ 196,537 6,878 7,317 4,498 2,081 1,203 218,514 124,182 8,912 3,242 177 1,225 1,439 42,746 237 110 63 182,333 1,940 429,781 (35,602) |
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This page does not form part of the statutory financial statements
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