Registered number: 02544583
Charity number: 1013148
MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Company. tts Trustees and Advisers
Trustees. Report
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
10-11
Statement of Cash Flows
12
Notes to the Financial Statements
13-29

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Peter Sutton, Trustee
Brett Alligan
Melanie Beck MBE
Chris Chapman
Stevie Pattison-Dick
Lucy Bradban
Janice Flawn CBE
Lisa Speamian
Christopher Kemp
Andrew Harris
Sinem Bilen {appointed 9 November 2023)
Company registered
number
02544583
Charity registered
number
1013148
Registered office
20 Bourton Low
Walnut Tree
Mitton Keynes
Bucks
MK7 7DE
Page 1

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors for the purposes of company law. present their report and financial
statements for the year ended 31 March 2024.
The financial statements have been Prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the Charity's Memorandum and Articles of Association. the Companies Act
2006 and 'A¢¢ounting 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 from 1 January 2019).
Objectives and activities
MK SNAP provides education, life skills and work training for adults over the age of 18 with learning and physical
disabilities. Working in a purpose-built premises, the dedicated team ensures all learning is delivered in a
5UPPOrtive, friendly and structured way.
MK SNAP is dedicated to..
improving the skills, confidence and selfésteem of the leamers to enable them to live rich and fulfilling lives in
the community
providing real work training opportunities to empower those who are able to move into paid employment or
volunteering activities.
Our vision is to transform our community through the promotion of independence. inspiration and opportunity.
Our aim is to provide a safe, progressive and professional service through the delivery of a unique blend of
education and work opportunities in a stimulating environment.
Our values are:
Fun - To provide a fun environment which builds key life skills through the creativity of the innovative MK SNAP
offer.
Respectful - To have respect for others creating a supportive and beneficial atmosphere where difference can
thrive.
Inclusive- To ensure that everyone is fully included as a member of our dynamic community through Celebration
and difference.
Safe
To provide a safe environment where everyone in the MK SNAP community is comfortable with
themselves and others.
Progressive- To continually improve the standards of Service and positive outcomes in all aspects of MK SNAP.
Professional - Ensuring and maintaining a high standard of professionalism in all dealings with our stakeholders.
Page 2

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and Performance 31 Ma￿h 2024
One of the priorities for the year was to get the centre back to pre-covid levels for the number of learners per
week. The optimum level for the business is 300 learner days per week and this was achieved in the second half
of the year. We ensured that learner numbers increased in line with staffing capacity and within the constraints of
the building capacity. We have also been working closely with MK Council to help overcome any barriers to
learners returning to MK SNAP.
The increase in learner numbers has boosted our SNAP Enterprise project. SNAP Enterprise provides
opportunities for people with learning disabilities to be involved in 'the world of work,. For some it cars lead to
part-time work either paid or voluntary. For others Ft provides real work in a supportive and creative environment,
unlocking and developing skills. The five areas of SNAP Enterprise are a community café, horticulture. fulfilling
packing and assembly contracts. hand-made crafts and canvas art for sale. The cafe opened at the start of 2023
for two mornings a week and it continues to be a good opportunity for learners to develop work skills as well as
providing us wilh an opportunity to showcase other aspects of the work at MK SNAP to the wider community.
The key fund raising event of the year was the Fire Walk held in September 2023. A number of staff, volunteers
and trustees joined with members of the wider community and £20k was raised from the evenl. We are also
grateful to all those who chose MK SNAP as their charity when running the London Marathon - £10k was raised
through this source.
Last year we reestablished the Learner Council. This is a democratically elected council and provides the
learners with a formal means to raise issues with the senior team. The members of the council were also invited
to attend the Milton Keynes Council Chamber, an experience they all enjoyed. A few of the learners also had the
opportunity to visit the Houses of Parliament which was a memorable experience for those involved.
Partnering with local businesses is key to raising our Profile in the community and provides the opportunity for
new funding streams. We would like to thank all our partners and supporters who have contributed to the
success of MK SNAP this year in particular..
M&M Supplies, Dawson Group, Ringway, The Red Thread Partnership. Naturalty TIWA, Poorly Paws, Indium,
Retriever Sports, MK Foodbank, Cygnus, MK City Council, Buckinghamshire County Council, Q Alliance, Red
Giraffe, Rotary MK, Diversity Marketplace, Howes Percival and Ball Corporation.
Financial Review
MK SNAP reported a surplus of £107,313 {2023: £200,975) for the year. Income was higher than the prior year
primarily due to increased learner numbers which have risen steadily through the year and we finished the year
averaging 300 learner days a week. We have also been successful in the award of grants over the financial year.
We continue to receive the support of longer term supporters including Forbes, the National Lottery and Sport
England and we had new grants from Sobell, the Jeffcoate Foundation and L&Q.
The cost base has continued to be closely managed. MK SNAP has been impacted by the higher cost of living
with the costs to heat and light the building increasing significantly. We have continued to make every effort to
reduce our carbon footprint in the delivery of the service and Ihis helps to minimise the impact of higher utility
bills. Our 5 year fixed rate mortgage came to an end in December and the new interest rate agreed is
significantly higher than before.
Reserve levels have been impacted by the surplus and remain very healthy. The Board's policy is that a
minimum of 6 months expenditure is maintained in a designated reserve to ensure that learners could be
provided with a safe alternative learning experience. Reserves above this level are maintained lo support the
investment in the Charity's activities.
Page 3

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The charity's premises are secured against a £1.25m bank loan from CAF Bank. The interest rate for this loan is
fixed until December 2028 and the arrangement is well managed.
Risk and Governance
The Board manages the risks faced by the oharity through its Governance Committee and a newly established
Risk Committee. All risks a￿ reviewed, mitigations to each risk analysed and progress on necessary actions
checked.
The systems of internal control are designed to provide reasonable assurance against material misstatement
and loss. These controls include-
A strategic plan and annual budget approved by the Board
Regular review by the Board of financial results, variance to budget, future I0￿caSt$, key performance
indicators and cash position.
Delegation of authority and segregation of duties
Identification and management of risks
Futu￿ Plans
The landscape for charities of all kinds remains very difficult. Fundraising is very competitive and inflation is
impacting the costs of running the premises as well as impacting staffing costs. The impact of the rising cost of
living is one of the highest risks the Board is managing this year. The level of funding paid by commissioners for
services remains out of line with the actual costs incurred and we will continue to work with local authority
commissioners to increase the rates they pay service providers to cover a greater proportion of the costs of
seNice provision.
Grants and donations where possible will be targeted to fund Core delNery and so support the maintenance of
the cost base and the service delivery provided as well as investing in enhancing the current level of service.
As we move into the 32nd year of the chartiy, it is with the Same care, spirit and detemiination demonstrated by
the parent and carer founders in 1992 that we will tackle our challenges this year and beyond.
MK SNAP'S cost base will be further impacted by the Budget increases in nation81 minimum wage and employer
Nl from April 2025.
Structure, governance and management
Milton Keynes Special Needs Advancement Project (MK Snap) is a company limited by guarantee governed by
its Memorandum and Articles of Association and a registered charity. MK Snap provides a unique range of
training and education services for adults with learning difficulties and disabilities, living in the Milton Keynes and
surrounding areas. Our secondary objective is to advance the understanding of the public in relation to the
Challenges experienced by persons with special needs.
Page 4

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
The trustees. who are also the directors for the purpose of company law, and who served during the year and up
to the date of signature of the financial statements were..
Peter Sutton, Trustee
Brett Alligan
Melanie Beck MBE
Chris Chaprnan
Stevie Pattison-Dick
Lucy Bradban
Janice Flawn CBE
Lisa Spearman
Christopher Kemp
Andrew Harris
Sinem Bilen (appointed 9 November 2023)
Appointment of Trustees
The minimum number of Trustees l Directors as per the Articles of Association is 4. The majority of the Trustees
are drawn from the local business community, and it is hoped to recruit more Truslees with experience in
disability issues, education and training.
The Twstees at the year end are shown on page 1.
The company is limited by guarantee, and no Trustee has a beneficial interest in the capital of the charitable
company. All Trustees are directors of the company.
Oryanisation
The Board of Trustees administer the Charity and meet on a regular basis. all are unpaid volunteers.
The Charity is managed on a day to day basis, by the Chief Executive Officer appointed by the Trustees. The
Chief Executive Officer is supported by the Head of Learner Services and the senior management team.
Trustee Induction and Training
New and prospective trustees are invited to meet the Chair of Trustees and other trustees as well as visiting the
premises. in order to understand our work as well as the responsibilities of being a Trustee before accepting the
appointment. Existing trustees are kept up to date with changes in charity sector legislation through circulation of
Charity Commission material on a periodic basis.
Page 5

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Publlc Beneflt
In accordance with S17(5) of the Charities Act 2011, Trustees have referred to guidance Contained in the Charity
Commission's general guidance on public benefit.
Our charity's purpose is set out in the Objectives and Activities ststement contained earlier in this report and
consider thal these objectives meet not only the needs of the adults with learning and physical disabilities but
also provide a service to the society as a whole.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Melanie Beck MBE
Chair of Tnjstees
Date..
Peter Sutton
Treasurer and Trustee
Page 6

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent Examiner's Report to the Trustees of Milton Keynes Spe¢lal Needs Advancement
Project ('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 Trustees of the Company (and 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 a¢counts 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 Ihe Company's
accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying OLrt my examination
I have followed the Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act.
Independent Examiner's Ststement
Since the Company's gross income exceeded £250,000 your examinei must be a member of a body listed in
section 145 of the 2011 Act. l confirm that l am qualrfied to undertake the examination because l 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 attenlion in connection with the
examination giving me cause to believe.
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act-
or
the accounts do not accord with those records. or
the accounts do not comply wtth the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of
an independent examination- or
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 charrties preparing their
accounts in accordance with the Financial Reporting Stsndard 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.
Page 7

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guaranteel
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
This report is made solety to the Company's Trustees, as a body, in accordance with Part 4 of the Charities
IAc¢ounts and Reports} Regulations 2008. My work has been undertaken so that I might state to the Companls
Trustees those matters l am required to state to them in an Independent Examiner's Report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the
Company and the Companvs Trustees as a body, for my work or for this report.
Signed-.
Dated. D6.c•n8ec &f2Q ,
ELIZABETH NEWELL BA (HONS) FCA
Independent Examiner
MHA
Milton Keynes
Page 8

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
{A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Tofal
funds
2023
Note
Income from".
Donations and legacies
Charitable activities
Other trading activities
Other income
87,670
595,106
79,741
37,635
107,139
194,809
595,106
79.741
37.635
297, 629
494, 761
99,741
8,450
Total income
800,152
107,139
907,291
900. 581
Expenditure on:
Raising funds
Charttable activities
33,003
623,889
33,003
766.975
46.433
653, 173
143,086
Total expenditure
656,892
143,086
799,978
699, 606
Net movement in funds
143,260
{35,947)
107,313
200,975
Reconciliation of funds:
Total funds brought fotward
Net movement in funds
1.391,349
143,260
127,104
(35,947)
1,518,453
107,313
1,317,478
200,975
Total funds carried forward
1,534,609
91,157
1,625,766
1,518,453
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 29 form part of these financial statements.
Page 9

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
IA Company Limited by Guarantee
REGISTERED NUMBER: 02544583
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
Current assets
12
1,685.693
1. 699,981
Debtors
Cash at bank and in hand
13
63,948
767,048
43, 090
693,346
830,996
736,436
Creditors.. amounts falling due within one
year
14
(65,585)
(70,071)
Net current assets
765,411
666,365
Total assets less current liabilities
2.451,104
2, 366,346
Creditors= amounts falling due after more
than one year
15
(825,338)
(847, 893)
Net assets excluding pension asset
1.62S,766
1,518,453
Total net assets
1,625,766
1,518,453
Charity funds
Restri¢tèd funds
Unrestricted funds
17
17
91,157
1,534.609
127, 104
1,391,349
Total funds
1,625,766
1,518,453
Page 10

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
REGISTERED NUMBER: 02544583
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.The members
have not required the company lo obtain an audit for the year in question in accordance with seclion 476 of
Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Mel
nie Beck MBE
Chair of Trustees
Date: 31IL[2Lr
The notes on pages 13 to 29 form part of these financial statements.
Peter Sutton
T￿aSUrer and Trustee
Page 11

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
67.959
180.259
Cash flows from Investlng activities
Interest received
37,635
8,450
Net cash provided by investing activities
37,635
8,450
Cash flows from financing activities
Repayments of borrowing
{31,892)
(33,070)
Net cash used in financing activities
(31,892)
133,070)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
73,702
155,639
693,346
537,707
Cash and cash equivalents at the end of the year
767,048
693,346
The notes on pages 13 to 29 form part of these financial statements
Page 12

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General ffinformatlon
Milton Keynes Special Needs Advancement Project is a private company limited by guarantee
incorporated in England and Wales. The registered office is 20 Bourton Low, Walnut Tree, Milton Keynes,
Bucks, MK7 7DE.
Accounting pollcles
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 1021
Accounting and Reporting by Charities= Statement of Recommersded 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), the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Milton Keynes Special Needs Advancement Project meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value
unless otherwise stated in the relevant accounting poli¢y.
The financial statements are prepared in sterling, which is the functional currency of the Charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include the revaluation of freehold properties and certain financial instruments at fair value. The
principal accounting policies adopted are set out below.
2.2 Income
Income is recognised when the Charity is legally entitled to it after any perfomiance wndilions have
been met, the amounts can be measured reliabFy, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charty has been
nolified of the donation, unless perfomiance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of ¢ovenant is recognised at the
time of the donation.
Tumover is measured at the fair value of the consideration received or receivable and represents
amounts receivable for goods and services provided in the normal course of business, net of
discounts, VAT and other sales related taxes.
Page 13

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies {continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefils will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is Classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs. including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributsble to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expendtture on charitable activities is incurred on directly undertaking the activities which further the
Companys objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Tangible fixed asset5 and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset Can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following basis..
Freehold property
Long-temi leasehold property
Motor vehicles
Fixtures and fittings
Computer equipment
1Qfi On cost
25 % On cost
20°A On cost
25Ph On cost
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of Financial Activities.
2.5 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to determine the
extent of the impairment loss (if any).
Page 14

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity
of three months or less unless otherwlse stated from the date of acquisition or opening of the deposit
or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet dale as a resutt of a past
event, it is probable that a transfer of economic benefit will be required in settlement. and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimale of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks 5pecrfic to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance ¢ost.
2.9 Financial instruments
The Company only has financial assets and financial liabilities of a kind that quality as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.10 Retirement benefits
Payment5 to defined contribution retirement benefit schemes are charged as an expense as they fall
due.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and which have not been designaled for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with spectfic restrictions imposed by
donors or which have been raised by Ihe Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial slatements.
Page 15

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacles
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Donations and gifts
87,670
107,139
194,809
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Donations and gifts
96. 143
201,486
297, 629
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Training and school income
SNAP Enterprises and outwork
594,263
843
594,263
843
595,106
595,106
Unrest17Cted
funds
2023
Total
funds
2023
Training and school income
SNAP Enterprises and OU￿Ork
494, 348
413
494,348
413
494, 761
494, 761
Page 16

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from other trading a¢tivltles
Income from non charitable trading actlvlties
Unrestricted
funds
2024
Total
funds
2024
Fundraising events
Facility hire
32,988
46,753
32.988
46,753
79.741
79,741
Unrestricted
funds
2023
Total
funds
2023
Fundraising events
Facilty hire
59, 822
39,919
59, 822
39,919
99,741
99.741
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Bank Interest recieved
37.635
37,635
Unrestricfed
funds
2023
Total
funds
2023
Bank Interest recieved
8,45Q
8,450
Page 17

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2024
2024
Total
2024
Charitable activities
623,889
143,086
766,975
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
Charitable activities
526, 683
126,490
653, 173
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Total
funds
2024
Charitsble activities
766,975
766,975
Activilies
undertaken
direclly
2023
Tolal
funds
2023
Charitable activities
653. 173
653, 173
Page 18

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by actlvltles (continued)
Analysis of direct costs
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation
Photocopier lease
Water
Light and heat
Repairs and maintenance
Insurance
Refuse and skip hire
Motor vehicle expenses
other travel costs
Sundry expenseslsubscription
Legal and professional expenses
Telephone and internel
other office costs
Interest on bank loans
Other charitable expenditure
529,188
13,288
4,278
2,134
37,214
40,062
12.165
1.957
1,809
480
6,243
31.096
2,786
256
42.162
42,857
475.265
14,288
4. 193
1.370
20.361
25, 658
10,991
2,335
1,528
623
5,392
25, 141
428
35,262
30,338
766.975
653. 173
Independent examlner'5 remuneration
2024
2023
Fees payable to the Companls independent examiner for the independent
examination of the Companls annual accounts
3,450
3,250
Page 19

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
500,962
35,170
18,140
452, 680
30,588
15,975
554,272
499,243
The average number of persons employed by the Company during the year was as follows:
2024
No.
2023
Charitable activities
Costs of generating funds
Management and administration
17
16
25
24
No employee received remuneration amounting to more than £60,000 in either year.
The Key Management Personnel of the Charity comprises Angela Novell as CEO. Steven Carruthers as
Director of Learning and Qualily, Sandra Adoley as Head of Learner Services, Claire O'Neill as Head of
Enterprise, Steph Passfield as Head of Support se￿iceS, Reece Bromfield as Facilities Leads, Leah
Pearman as Business Admin Apprentice and Katie James as Grants and Projects Co-ordinator. The total
employee benefits of the Key Management Personnel of the Charity were £224,697 (2023.. £195,417).
11. Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
Page 20

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. Tangible flxed assets
Long-term
leasehold
property
Freehold
property
Motor Fixtures and
vehicles
fittings
Total
Cost or valuation
At 1 April 2023
Disposals
2,118.554
225,000
12,450
14,000)
109,012
2,465.016
(4,000>
At 31 March 2024
2,118,554
225,000
8,450
109,012
2,461.016
Depreciation
At 1 April 2023
Charge for the year
On disposals
643,573
14,288
12,450
109,012
765.035
14,288
14,000)
{4.0001
At 31 March 2024
657,861
8,450
109,012
775,323
Net book value
At 31 March 2024
1,460.693
225.000
1,685,693
At 31 March 2023
1,474,981
225,000
1, 699, 981
The leasehold land commenced on 23 January 2008 for a period of 125 years. The Trustees carry out an
impairmenl review of the leasehold land on an annual basis to ensure the valuation in the accounts is
correctly stated.
13. Debtors
2024
2023
Due within one year
Trade debtors
Other debtors
Prepayments and a¢¢rued income
29,446
432
34,070
22,563
424
20, 103
63.948
43, 090
Page 21

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Creditors: Amounts falling due within one year
2024
2023
Bank loans
Trade creditors
Other taxation and social securty
Other creditors
Accruals and deferred income
26,347
14,172
9,710
1,220
14,136
35, 684
13,603
8,064
940
11,780
65.585
70,071
15. Creditors: Amounts falling due after more than one year
2024
2023
Bank loans
825,338
847, 893
A bank loan was entered into on 23 March 2016 with CAF Bank Limited for £1.250,000 over 25 years.
The loan is secured by a legal first charge over the Charitys leasehold land and buildings. The charity
entered into a fixed rate of interest for 5 years from 20 December 2023, it is payable at 7.270/0 per annum
and will revert ba¢k to the variable rate at the end of the fixed temi.
16. Financial instruments
2024
2023
Financial assets
Financial assets measured at fair value through income and expenditure
767.048
693.346
Page 22

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17.
Statement of funds
Statement of funds - Current year
Balance at
31 March
2024
Balance at 1
April 2023
Income Expenditure
Unrestricted funds
Designated funds
Designated Funds - all funds
379,142
379.142
General funds
General Funds - all funds
1,012,207
800.152
1656,892) 1,155,467
Total Unrestricted funds
1.391,349
800,152
(656,892) 1,534,609
Restricted funds
MK Community Foundation
Eranda Rothschild
The Forbes Charitable Trust
The TNL Community Fund
MKGU Rotary
L&Q
Speakers Art Fund
The Band Trust
Anton Jurgens Charitable Trust
Childwick Trust
The Anson Charitable Trust
The Sobell Foundation
Sport England
Masonic Centenary Fund
9,288
9,199
(9,288)
(9,199)
{22,688}
{41,924)
(2,092)
(10,000)
25,000
38,236
2,500
10.000
500
2,312
19,119
408
22,807
500
54,986
73,790
2.809
9,211
118,804)
(2,809)
(9,211)
11.178
(8,242)
(3,768)
{3,883)
2,000
15,000
10,020
3,883
822
6.758
6,252
127,104
107,139
(143,086)
91.157
Total of funds
1,518,453
907,291
{799,9781 1,625,766
Page 23

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (contlnued)
£9,288 was brought forward in the year from Milton Keynes Community Foundation fund, of which £9,288
as spent in the year. The fund is used for paying salary and other expenses for Enterprise development
(e.g online shop).
£9,199 was brought fomard from Eranda Rothschild for Opening futures-catering and hospitalty hub of
which £9,199 was spent in the year.
£25.000 was received from Forbes Charf(able trust, of which £22,688 was spent in the year. The fund is
used for paying salary and other expenses for Enterprise development.
£22,807 was brought forward in the year from The TNL Community Fund. £38.236 was received in the
year, of which £41,924 was spent in the year. The fund is used for salaries for Regional Centre5 in
London and the South East region
£2,500 was recieved from MKGU Rotary for refurbishment of the café counter area and café equipment.
of which £2,092 was spent.
£10.000 was received from L & Q, of which £10,000 was spent in the year. The fund is used for Sport
England and provide5 activities such as yoga and dance.
.£500 was recieved from Speakers Arl Fund for a piece of artwork called "democracy for all,.
£73,790 was brought forward from The Band Trust. of which £18,804 was spent. The fund is used to help
with gardening projecls.
£2,809 was brought foward from Anton Jurgens Charitable Trust for Enterprise activities, of which
£2,809 was spent.
£9,211 was brought forward from Childwick Trust, of which £9.211 was spent. The fund is for Enterprise
activities
£2,000 was recieved from The Anson Charitable Trust, of which £1,178 was spent. The fund is used for
work training programmes.
£15,000 was recieved from The Sobell Foundation. of which £8,242 was spent. The fund is used for work
placements.
£10.020 was recieved from Sport England, of which £3,768 was spent. The fund is used for snap to it
sports sessions.
£3,883 was recieved from Masonic Centenary Fund, of which £3,8838 was spent. The fund was used to
purchase iPads, cases and chargers.
Page 24

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. ststement of funds (continued)
Statement of funds - prior year
Balance at
31 March
2023
Balance al
1 Apnl 2022
Income Expenditure
Unrestricted funds
Designated funds
Designated Funds - all funds
379, 142
379, 142
General funds
General Funds - all funds
886,228
699,095
(573, 116) 1,012,207
Total UnrestTlCted funds
1,265,370
699,095
(573, 116) 1.391,349
Restricted funds
MK Community Founijation
Eranda Rothschild
The Forbes Charstable Trust
L & Q September 2022
The TNL Community Fund
JW Memorial Donation
Draper Charitable Fund
L&Q
TVP Community Fund
Speakers Art Fund
The Band Trust
Anton Jurgens Charitable Trust
Childwick Trust
The Anson Charitable Trust
The Sobell Foundation
Sport England
16,481
15,000
25,000
(32, 193)
(5, 801)
(25,000)
(9, 998)
(22, 681)
(3.256)
(10,000)
(1,576)
(795)
(5, 000)
(6,210)
(1, 191)
(789)
(1, 000)
(500)
[500)
9.288
9,199
25.000
9, 998
45,488
22.807
3,256
10,000
7,576
795
5,000
80,000
4,000
10,000
1,000
500
500
73, 790
2, 809
9,211
52, 108
201,486
(126,490J
127, 104
Page 25

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (continued)
Total of funds
1,317,478
900,581
(699, 606)
1,518,453
18. Summary of funds
Summary of funds- current year
Balance at
31 Mar¢h
2024
Balan¢e at 1
April 2023
Income Expenditure
Designated funds
General funds
Restricted funds
379,142
1.012,207
127.104
379.142
1,155,467
91.157
800,152
107,139
(666.892)
(143,086)
1,518.453
907.291
{799,978)
1.625,766
The income funds of the Charity include designated funds which have been set aside out of unrestricted
funds by the trustees for specrfic purposes.
The Designated Fund has been transferred out of general unrestricted funds to ensure that the Charity is
able to cover 6 months of running costs.
Summary of funds- prior year
Balance af
31 March
2023
Balance at
l Apnl 2022
Income Expenditure
Designated funds
General funds
Restricted funds
379, 142
886,228
52, 108
379, 142
1,012,207
127, 104
699,095
201,486
(573, 116)
(126.490)
1,317,478
900.581
(699, 606)
1,518,453
Page 26

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Analysls of net assets between funds
Analysls of net assets between funds - current period
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Difference
1,685,693
743.619
(65.585)
(825,338)
(3,780)
1,685,693
830,996
(65,585)
(825,3381
87,377
3,780
Total
1.534,609
91,157
1,625.766
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Restncted
funds
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
Credilors due in more than one year
1, 699. 981
609,332
(70,071)
(847.893)
1,699, 981
736,436
(70, 071)
(847, 893)
127, 104
Total
1,391,349
127, 104
1,518,453
Page 27

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
20.
Re¢onc115ation of net movement in funds to net cash flow from operating actlvities
2024
2023
Net income for the period las per Statement of Financial Activities)
107,313
200,975
Adjustments for:
Depreciation charges
Dividends. interests and rents from investments
Decreasel(in¢rease) in debtors
Increasel(decrease) in creditors
14,288
{37,635)
{20,858)
4,861
14,288
(8,450)
6,039
(32,593)
Net cash provided by operating a¢tivities
67,959
180,259
21. Analysis of cash and cash equivalents
2024
2023
Cash in hand
767,048
693,346
22. Analysis of changes in net debt
At 1 Aprll
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
693,346
135,684)
(847.893)
73,702
9,337
22,555
767,048
(26,347)
(825,338)
(190,231)
105,594
184.637)
Page 28

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT
(A Company Ltmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
23.
Pension commitments
Defined contribution schemes
The Charity operates a defined contribution pension scheme for all qualfying employees. The assets of
the scheme are held separately from those of the charity in an independently administered fund.
The charge to income or expenditure in respect of defined contribution schemes was £18,140 (2023
£15.975}.
Page 29