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2025-03-31-accounts

Registered number: 02544583 Charity number: 1013148

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

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CONTENTS
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. Page
Reference and Administrative Details ofthe Company, its Trustees and Advisers 1
Trustees’ Report 2-6
Trustees' Responsibilities Statement 7
Independent Auditors' Report on the Financial Statements 8-11
Statement of Financial Activities 12
Balance Sheet 13 - 14
Statement ofCash Flows 15
NotestotheFinancialStatements 16-32

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

ei REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Peter Sutton, Trustee (resigned 19 September 2025)
Brett Alligan
Melanie Beck MBE
Chris Chapman (resigned 3 December 2024)
Stevie Pattison-Dick
Lucy Bradban
Janice Flawn CBE
Lisa Spearman
Christopher Kemp
Andrew Harris
Sinem Bilen
Matthew Hoddinott (appointed 23 April 2025)
Michelle Smyth (appointed 16 July2025)
Company registered
number 02544583
Charity registered
number 1013148
Registered office 20 Bourton Low
Walnut Tree
Milton Keynes
Bucks
MK7 7DE
Companysecretary AndrewHarris

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

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TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025 i7B

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 2025.

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 “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 from 1 January 2019).

Objectives and activities

MK SNAP provides a leading programme of education, life skills, work preparation and opportunities for work to adults aged 18+ with learning disabilities, giving them the skills to realise their potential. MK SNAP has over 30 years of experience working with disabled people in the community and we are proud to say many of our learners go on to enjoy working with local organisations and companies with specialist support. MK SNAP has a dedicated team of over 20 qualified and specialist staff and a team of volunteers to ensure all learning is delivered in a supportive, friendly and structured way.

MK SNAP is dedicated to:

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.

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

eS TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 a

Achievements and Performance 31 March 2025

This has been a year of significant change and achievement for MK SNAP. Angela Novell resigned as CEO and this presented the Board with an opportunity to review the management and organisational structure of the business. Steven Carruthers, who has been at MK SNAP for 10 years was appointed Centre Director and he worked with a consultant to review the organisational structure, skills requirements, job specs and objectives of the leadership team. Under Stephen’s leadership, an updated Business Plan has been communicated to all staff and there is a clear strategic direction which the team is working hard to deliver.

Learner numbers now optimise the available space with 136 learners and 305 learner days per week. Looking ahead, the business will repurpose some of the existing facility space to provide the opportunity for additional learners to take advantage of the opportunities MK SNAP provides for the community.

MK SNAP has had unprecedented coverage on both BBC and ITV local news focusing on the work we do to boost individual learner confidence and how we work with local enterprises to provide real work opportunities for our community. MK SNAP was nominated by the Milton Keynes Business Achievements Awards for Charity of the Year and Skills and Learning and we were delighted to win the award for Skills and Learning.

MK SNAP has taken a significant step in its sustainability and environmental impact with the installation of solar panels on the facility. We are grateful to the grants from MK Council and The Roger and Jean Jefcoate Trust, which funded the solar panels and these panels are already reducing the daily electricity costs of running the building.

SNAP Enterprise continues to provide opportunities for people with learning disabilities to be involved in ‘the world of work’. For some it can lead to part-time work either paid or voluntary. For others it 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 with 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 Gala Dinner held in March 2025 . The event was generously hosted by our patron, Her Grace The Duchess of Bedford and was attended by a number of staff, volunteers and trustees as well as many key partners and stakeholders. Over £20k (net of costs) was raised from this event.

Partnering with local businesses is key to raising our profile in the community and provides the opportunity for new funding streams. We are particularly pleased with the placement that a number of learners have had with M&M Supplies and PJ Care. These placements show the positive contribution our learners can make to the wider community with the appropriate support and encouragement.

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, Naturally TIWA, Poorly Paws, Indium, Retriever Sports, MK Foodbank, Cygnus, MK City Council, Buckinghamshire County Council, Rotary MK, Diversity Marketplace, Howes Percival, Bali Corporation, Aureum Finance, Dunnore Utilities, HCR Law, FormFive, Pure Water Pools, John Lewis and PJ Care.

We would like to extend a very special thanks to our hard-working vice-patron, Roger Jefcoate, CBE, DL. Roger continues to work tirelessly to raise the profile and support MK SNAP, including hosting SNAP CHAT, a network meeting bringing charity, community, business, trust funders and philanthropists from across the UK to our centre.

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i ee MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

nr TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ss Achievements and Performance 31 March 2025 (cont...)

This year, long standing trustee Chris Chapman stepped down from the Board. We would like to thank him for his outstanding contribution over the years. We are also delighted to welcome Matthew Hoddinott and Michelle Smyth to the Board.

Financial Review

MK SNAP reported a surplus of £120,348 (2024: £107,313) 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 over 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, Sobel! and Sport England and we had new grants from the Roger and Jean Jeafcoate Trust, MK Council Carbon Offset Fund and the Levelling Up Fund. The donations for the solar panels have been included in the income for this year and the solar panels have been included in the Balance Sheet and will be depreciated over their useful life. SNAP Enterprises, the Gala Dinner and other fund raising activities, including donations received from our London Marathon runners have also madea significant contribution.

The cost base has continued to be closely managed but has increased on the prior year. New roles have been created including a community fundraiser which have added to the staff costs. Our 5 year fixed rate mortgage came to an end in December 2023 and the new interest rate agreed is significantly higher than before. We are already seeing the impact of the solar panels to help mitigate the ongoing high utility costs associated with our specialist facility.

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 to support the investment in the Charity’s activities.

The charity’s premises are secured against a £1.25m bank loan from CAF Bank, balance as of 31 March 2025 £825k. 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 charity through its Governance Committee and a Risk Committee. All risks are reviewed, mitigations to each risk analysed and progress on necessary actions checked. A significant amount of work has been undertaken under the leadership of Board member Chris Kemp to ensure we have a risk register and a risk assessment, reporting and mitigation system that is fit for purpose. The understanding and management of risks is a key element of every established committee.

The systems of internal control are designed to provide reasonable assurance against material misstatement and loss. These controls include:

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

= TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Future 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. Staff costs have been impacted by the Government’s policy on increasing national insurance and national minimum wages. The level of funding paid by commissioners for services has increased on the prior year but 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 service provision.

Grants and donations where possible will be targeted to fund core delivery 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. SNAP Enterprises will be increasing its impact and already we have seen an increase in MK SNAP merchandise and a range of printed products. Other fund raising activities will also play a critical element in supporting the business.

MK SNAP will continue to work with local businesses to enhance the opportunities for work placement for our learners and we are working to develop a “Dragon Programme?” for corporate partners.

As we move into the 33rd year of the charity, it is with the same care, spirit and determination demonstrated by the parent and carer founders in 1992 that we will tackle our challenges this year and beyond.

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.

The trustees, who are also the directors for the purpose of company taw, and who served during the year and up to the date of signature of the financial statements were:

Peter Sutton (resigned 19 September 2025)

Brett Alligan Melanie Beck MBE Chris Chapman (resigned 3 December 2024) Stevie Pattison-Dick Lucy Bradban Janice Flawn CBE Lisa Spearman Christopher Kemp Andrew Harris Sinem Bilen Matthew Hoddinott (appointed 23 April 2025) Michelle Smyth (appointed 16 July 2025)

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5 November 2025

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

ES STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

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The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

The auditor, MHA, previously traded through the legal entity Macintyre Hudson LLP. In response to regulatory changes, Macintyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

re INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

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Opinion

We have audited the financial statements of Milton Keynes Special Needs Advancement Project (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)} and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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(A Company Limited by Guarantee)

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

i INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (CONTINUED)

eeeee ee ee eee eee Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

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eeees MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

a INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (CONTINUED)

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Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Discussing with the Trustees and management their policies and procedures regarding compliance with laws and regulations; * Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and . * Considering the risk of acts by the Charity which were contrary to applicable laws and regulations, including fraud.

Our audit procedures in relation to fraud included but were not limited to:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ Report.

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27 November 2025

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

pe STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

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Unrestricted Restricted Total Total
funds funds funds funds
2025 2025 2025 2024
Note £ £ £ pS,
Income from:
Donations and legacies , 3 41,649 180,315 221,964 171,480
Charitable activities 4 739,741 - 739,741 618,435
Othertrading activities 5 111,629 - 111,629 79,741
Other income 6 28,890 - 28,890 37,635
Total income 921,909 180,315 1,102,224 907,291
Expenditure on:
Raising funds 41,278 - 41,278 33,003
Charitable activities 7 807,743 132,855 940,598 766,975
Total expenditure 849,021 132,855 981,876 799,978
Netmovement in funds 72,888 47,460 120,348 107,313
Reconciliation offunds:
Total funds brought forward 1,534,609 91,157 1,625,766 1,518,453
Net movement in funds 72,888 47,460 120,348 107,313
Totalfundscarriedforward 1,607,497 138,617 1,746,114 1,625,766

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 16 to 32 form part of these financial statements.

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee) REGISTERED NUMBER: 02544583

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BALANCE SHEET AS AT 31 MARCH 2025 ee

2025 2024
Note £ £
Fixed assets
Tangible assets 12 1,723,899 1,685,693
Current assets
Debtors 13 56,733 63,948
Cash at bank and in hand 813,369 767,048
870,102 830,996
Current liabilities
Creditors: amounts falling due within one
year 14 (55,619) (65,585)
Net current assets 814,483 765,411
Total assets less current liabilities 2,538,382 2,451,104
Creditors: amounts falling due after more
than one year 15 (792,268) (825,338)
Netassets excluding pension asset 1,746,114 1,625,766
Total net assets 1,746,114 1,625,766
Charity funds
Restricted funds 17 138,617 91,157
Unrestricted funds 17 1,607,497 1,534,609
Totalfunds 1,746,114 1,625,766

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5 November 2025

MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

nS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

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----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|re| |Cash|flows|from|operating|activities| |Net|cash|used|in|operating|activities|104,341|67,959| |Cash|flows|from|investing|activities| |Purchase|of tangible|fixed|assets|(53,840)|-| |Interest|received|28,890|37,635| |Net cash|(used|in)/provided|by|investing|activities|(24,950)|37,635| |Cash|flows|from|financing|activities| |Repayments|of borrowing|(33,071)|(31,892)| |Net|cash|used|in|financing|activities|(33,071)|(31,892)| |Change|in|cash|and|cash|equivalents|in|the|year|46,320|73,702| |Cash|and|cash|equivalents|at the|beginning|of the|year|767,048|693,346| |Cash|and|cash|equivalents|at|the|end|of the|year|813,368|767,048| |The|notes|on|pages|16|to|32|form|part|of these|financial|statements|

----- End of picture text -----

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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  1. General information

Milton Keynes Special Needs Advancement Project is a private company limited by guarantee incorporated in England and Wales. The registered office and principal place of business is 20 Bourton Low, Walnut Tree, Milton Keynes, Bucks, MK7 7DE.

2. Accounting policies 2.1 Basis of preparation of financial statements

The financial statements 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 2019), the Financial Reporting Standard 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 policy.

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.

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Turnover 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.

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

ce NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ———eeeeee

  1. 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 benefits 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 attributable 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.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Tangible fixed assets 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 Depreciation is charged so as to allocate the Depreciation is charged so as to allocate the 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 - 1% On cost
Long-term leasehold property - Nil
Motor vehicles - 25% On cost
Fixtures and fittings - 20% On cost
Computer equipment - 25% On cost
Solarpanels(withinF&F) - 4%Oncost

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).

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

rr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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2. 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.

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less unless otherwise 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 date as a result 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 estimate 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 specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.9 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify 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

Payments 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 designated 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 specific restrictions imposed by donors or which have been raised by the 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 statements.

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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3. Income from donations and legacies

Unrestricted Restricted Total
funds funds funds
2025 2025 2025
£ £ £
Donations and gifts 41,649 180,315 221,964
Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ f fi
Donations and gifts 64,341 107,139 171,480
  1. Income from charitable activities
Unrestricted Total
funds funds
2025 2025
£ £
Training and school income 708,932 708,932
SNAP Enterprises and outwork 30,809 30,809
739,741 739,741
Unrestricted Total
funds funds
2024 2024
£ £
Training and school income 594,263 594,263
SNAP Enterprises and outwork 24,172 24,172
618,435 618,435

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

(A Company Limited by Guarantee)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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5. Income from other trading activities

Income from non charitable trading activities

Unrestricted Total
funds funds
2025 2025
£ £
Fundraising events 57,626 57,626
Facility hire 54,003 54,003
111,629 111,629
Unrestricted Total
funds funds
2024 2024
55) pe)
Fundraising events 32,988 32,988
Facility hire 46,753 46,753
79,741 79,741
6. Other incoming resources
Unrestricted Total
funds funds
2025 2025
£ £
Bank Interest recieved 28,890 28,890
Unrestricted Total
funds funds
2024 2024
is £
BankInterestrecieved 37,635 37,635

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

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em

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Ta Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted Restricted
funds funds Total
2025 2025 2025
£ £ £
Charitable activities 807,743 132,855 940,598
Unrestricted Restricted
funds funds Total
2024 2024 2024
Fs, £ g
Charitable activities 623,889 143,086 766,975

8. Analysis of expenditure by activities

Activities
undertaken Total
directly funds
2025 2025
£ if
Charitable activities 940,598 940,598
Activities
undertaken
directly		 Total
funds
2024 2024
§ E
Charitable activities 766,975 766,975

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

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eens NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

————eee 8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Total Total
funds funds
2025 2024
£ fi
Staffcosts 681,378 529,188
Depreciation 15,634 13,288
Photocopier lease 4,176 4,278
Water 2,293 2,134
Light and heat 28,431 37,214
Repairs and maintenance 33,290 40,062
Insurance 14,729 12,165
Refuse and skip hire 2,550 1,957
Motorvehicle expenses 2,054 1,809
Other travel costs 562 480
Sundry expenses/subscription 4,256 5,243
Legal and professional expenses 31,799 31,096
Telephone and internet 5,770 2,786
Other office costs 258 256
Interest on bank loans 59,424 42,162
Other charitable expenditure 53,994 42,857
940,598 766,975
9. Auditors' remuneration
2025 2024
£ &
Fees paid to Company's auditors forthe audit ofthe financial statements 15,000 -
All assurance services not included above - 3,450
Allnon-auditservicesnotincludedabove 2,000 -

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

i

10. Staff costs

2025 2024
£ £
Wages and salaries 612,108 500,962
Social security costs 46,283 35,170
Contribution to defined contribution pension schemes 22,987 18,140
681,378 554,272

The average number of persons employed by the Company during the year was as follows:

2025 2024
No. No.
Charitable activities 19 17
Costs ofgenerating funds 2 1
Management and administration 7 a
28 25

No employee received remuneration amounting to more than £60,000 in either year.

The Key Management Personnel of the Charity comprises:

Steven Carruthers - Centre Director Claire O'Neill - Head of Enterprise Lesley Davies - Head of Learner Services (Maternity cover for Sandraa Adoley) Katie James - Grants & Projects Coordinator Stephanie Passfield - Professional Services Manager Reece Bromfield - Facilities Leader.

The total employee benefits of the Key Management Personnel of the Charity were £310,853 (2024: £224,697).

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - ENIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

Seeee

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

eee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Ss el

12. Tangible fixed assets

Long-term
Freehold leasehold Motor Fixtures and
property
£		 property
£		 vehicles
£		 fittings
£		 Total
£
Cost or valuation
At 7 April 2024 2,118,554 225,000 8,450 109,012 2,461,016
Additions - - - 53,840 53,840
At 31 March 2025 2,118,554 225,000 8,450 162,852 2,514,856
Depreciation
At 1 April 2024 657,861 - 8,450 109,012 775,323
Charge forthe year 14,288 1,346 - - 15,634
At 31 March 2025 672,149 1,346 8,450 109,012 790,957
Net book value
At 31 March 2025 1,446,405 223,654 - 53,840 1,723,899
At31March2024 1,460,693 225,000 - - 1,685,693

The leasehold land commenced on 23 January 2008 for a period of 125 years. The Trustees carry out an impairment review of the leasehold land on an annual basis to ensure the valuation in the accounts is correctly stated.

13. Debtors

2025 2024
£ 8
Due within one year
Trade debtors 35,539 29,446
Other debtors 67 432
Prepayments and accrued income 21,127 34,070
56,733 63,948

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

oe, NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

e e S

14. Creditors: Amounts falling due within one year

2025 2024
£ 75
Bank loans 33,069 26,347
Trade creditors 1,417 14,172
Othertaxation and social security 10,704 9,710
Other creditors 2,909 1,220
Accruals and deferred income 7,520 14,136
55,619 65,585
15. Creditors:Amountsfallingdueaftermorethanoneyear

Bank loans

2025 2024
£ 8
792,268 825,338

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 Charity’s leasehold land and buildings. The charity entered into a fixed rate of interest for 5 years from 20 December 2023, it is payable at 7.27% per annum and will revert back to the variable rate at the end of the fixed term.

16. Financial instruments

2025 2024
£ 58
Financial assets
Financial assetsmeasuredatfairvaluethroughincomeandexpenditure 813,369 767,048

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ee

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

eee

17. Statement of funds

Statement of funds - current year

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|1|31|March| |April|2024|Income|Expenditure|2025| |£|Ly|£|£| |Unrestricted|funds| |General|Funds-|all|funds|1,534,609|921,909|(849,021)|1,607,497| |Restricted|funds| |The|Forbes|Charitable|Trust|2,312|30,000|(32,172)|140| |The|TNL|Community|Fund|19,119|29,192|(32,381)|15,930| |MKGU|Rotary|408|-|(408)|-| |Sport|England|-|Marvelous|Project|-|14,360|(5,018)|9,342| |MK|City|council|-|EnABLE|talent|prog|-|30,000|(19,901)|10,099| |Roger and|Jean|Jeafcoate|Trust|-|30,000|(474)|29,526| |MK|Council|-|Solar|panels|-|26,790|(423)|26,367| |ALF|-|Garden|-|1,500|-|1,500| |ALF|-|Enterprise|-|1,500|(389)|1,111| |Speakers|Art|Fund|500|-|(500)|-| |The|Band|Trust|54,986|-|(16,704)|38,282| |Aviva|-|1,973|-|1,973| |The Anson|Charitable|Trust|822|-|(822)|-| |The|Sobell|Foundation|6,758|15,000|(17,411)|4,347| |Sport|England|6,252|-|(6,252)|-| |91,157|180,315|(132,855)|138,617| |Total|of funds|1,625,766|1,102,224|(981,876)|1,746,114|

----- End of picture text -----

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

a

17. Statement of funds (continued)

£2,312 was brought forward from Forbes Charitable trust. £30,000 was received in the year, of which £32,172 was spent in the year. The fund is used for paying salary and other expenses for Enterprise development.

£19,119 was brought forward from The TNL Community Fund. £29,192 was received in the year, of which £32,381 was spent in the year. The fund is used for salaries for Regional Centres in London and the South East region

£408 was brought forward from MKGU Rotary for refurbishment of the café counter area and cafe equipment, of which £408 was spent.

£14,360 was received from Sports England, of which £5,018 was spent in the year. The fund is being used on our Marvellous Project.

£30,000 was received from MK Council, of which £19,901 was spent in the year. The fund is being used on our EnABLE talent program.

£30,000 was received from Roger and Jean Jeafcoate Trust, of which £27,050 was spent in the year. The fund is being used on Solar Panels. The £27,050 has been capitalised through the balance sheet with annual depreciation charge being released against the fund.

£26,790 was received from MK Council, of which £26,790 was spent in the year. The fund is being used on Solar Panels. The £26,790 has been capitalised through the balance sheet with annual depreciation charge being released against the fund.

£1,500 was received from ALF, the fund is being used on our Garden project.

£1,500 was received from ALF, of which £389 was spent in the year. The fund is being used on our Enterprise project.

£500 was brought forward from Speakers Art Fund for a piece of artwork called "democracy for all’, of which £500 was spent.

£54,986 was brought forward from The Band Trust, of which £16,704 was spent. The fund is used to help with gardening projects.

£822 was brought forward from Anton Jurgens Charitable Trust for Enterprise activities, of which £822 was spent.

£6,758 was brought forward from The Sobell Foundation. £15,000 was received from The Sobell Foundation, of which £17,411 was spent. The fund is used for work placements.

£6,252 was received from Sport England, of which £6,252 was spent. The fund is used for snap to it sports sessions.

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pee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Se ee eee ee eee

17. Statement of funds (continued)

Statement of funds - prior year

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|31|March| |1|April 2023|Income|Expenditure|2024| |£|&|£|£| |Unrestricted|funds| |Designated|funds| |Designated|Funds-|all|funds|379,142|-|-|379,142| |General|funds| |General|Funds|-|all|funds|1,012,207|800, 152|(656,892)|1,155,467| |Total|Unrestricted|funds|1,391,349|800, 152|(656,892)|1,534,609| |Restricted|funds| |MK|Community|Foundation|9,288|-|(9,288)|-| |Eranda|Rothschild|9,199|-|(9,199)|-| |The|Forbes|Charitable|Trust|-|25,000|(22,688)|2,312| |The|TNL|Community|Fund|22,807|38,236|(41,924)|19,119| |MKGU|Rotary|-|2,500|(2,092)|408| |ALF|-|Garden|-|10,000|(10,000)|-| |Speakers|Art|Fund|-|500|-|500| |The|Band|Trust|73,790|-|(18,804)|54,986| |Aviva|2,809|-|(2,809)|-| |Childwick|Trust|9,211|-|(9,211)|-| |The|Anson|Charitable|Trust|-|2,000|(1,178)|822| |The|Sobell|Foundation|-|15,000|(8,242)|6,758| |Sport|England|-|10,020|(3,768)|6,252| |Masonic|Centenary|Fund|-|3,883|(3,883)|-| |127,104|107,139|(143,086)|91,157| |Total|of funds|1,518,453|907,291|(799,978)|1,625, 766|

----- End of picture text -----

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT

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SS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

ea

18. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 31 March
April 2024 Income Expenditure 2025
& £ £ £
General funds 1,534,609 921,909 (849,021) 1,607,497
Restricted funds 91,157 180,315 (132,855) 138,617
1,625,766 1,102,224 (981,876) 1,746,114

The income funds of the Charity include designated funds which have been set aside out of unrestricted funds by the trustees for specific 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 at
Balance at 31 March
1 April2023
B		 Income
8		 Expenditure
Fe,		 2024
£
Designated funds 379,142 - - 379,142
General funds 1,012,207 800,152 (656,892) 1,155,467
Restricted funds 127,104 107,139 (143,086) 91,157
1,518,453 907,291 (799,978) 1,625,766

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MILTON KEYNES SPECIAL NEEDS ADVANCEMENT PROJECT (A Company Limited by Guarantee)

a NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

eee

  1. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted Restricted Total
funds funds funds
2025 2025 2025
£ £ £
Tangible fixed assets 1,671,405 52,494 1,723,899
Current assets 783,979 86,123 870,102
Creditors due within one year (55,619) - (55,619)
Creditors due in morethan one year (792,268) - (792,268)
Total 1,607,497 138,617 1,746,114
Analysis ofnetassets betweenfunds- prioryear
Unrestricted Restricted Total
funds funds funds
2024 2024 2024
ies £ £
Tangible fixed assets 1,685,693 - 1,685,693
Current assets 739,839 91,157 830,996
Creditors due within one year (65,585) - (65, 585)
Creditors due in more than one year (825, 338) - (825,338)
Total 1,534,609 91,157 1,625,766

Total

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 SeeEEEeee eee 20. Reconciliation of net movement in funds to net cash flow from operating activities

2025 2024
£ £
Net income for the year (as per Statement of Financial Activities) 120,348 107,313
Adjustments for:
Depreciation charges 15,634 14,288
Dividends, interests and rents from investments (28,890) (37,635)
Decrease/(increase) in debtors 7,215 (20,858)
Increase/(decrease) in creditors (9,966) 4,851
Netcash provided by operating activities 104,341 67,959
21. Analysis ofcash and cash equivalents
2025 2024
£ £
Cash in hand 813,368 767,048
22. Analysis ofchanges in net debt
At 1 April At 31 March
2024 Cash flows 2025
£ £ £
Cash at bank and in hand 767,048 46,321 813,369
Debt due within 1 year (26,347) (6,722) (33,069)
Debt due after 1 year (825,338) 33,070 (792,268)
(84,637) 72,669 (11,968)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

eee

23. Pension commitments

Defined contribution schemes

The Charity operates a defined contribution pension scheme for all qualifying 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 (2024 - £18,140).

24. Related party transactions

The Charity has entered into the following related party transactions during the year ended 31 March 2025: Four Trustees purchased tickest for the Charity's Gala Dinner which took place in March 2025, totalling £3,880. Of this, £1,000 remained unpaid by one Trustees at the year end. This was subsequently paid in June 2025. Additionally, one Trustee also provided sponsorship and a further donation towards the Gala Dinner totally £3,750; no balance was outstanding at the year end.

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