**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:
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 2025-26 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 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:
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
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
- (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...
Page 14
**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...
Page 16
**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...
Page 18
**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...
Page 19
**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|
|---|---|---|
This page does not form part of the statutory financial statements
Page 22
## **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)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 23