KeyRing - Living Support Networks Report and Financial Statement Year ending 31 March 2024 Charity number 1054234 Company number: 03176431
K6yRlng -Llvlng Support Networks Yèar Ended 31°, March 2024 FINANCIAL STATEMENTS Contents Page Board and Advlsors Report of Trust•6s 14 Roport of lrtdependent audltors 17 Statement of Financlal Activltles 18 Balance Shegl 19 Cash Flow Statement 20 Notes to the account
KeyRing -Living Support Networks Year Ended 31st March 2024 Referen¢¢ and Admlnlstlatlve dolails Charily number.. 1054234 Company number: 03176431 Principal 2nd Registered Office.. Unil 21 St Olav's Court. Lower Road. London. SE16 2XB Our Advlsors Audltors SCB (Ac¢ountanl$l 31 Sackville Street, Manchester M13LZ Bankers Unlty Trust Bank PIC Nine Brindleyplace Birmingham B12HB Soll¢ltors Blake Morgan Seacourt Tower Wesl Way Oxford OX2 OFB Dlreclors and TrustO08 Th9 dire¢lor$ of Ihe chanlable company (the Charity) are ils Iruslees for the purpos9 of Gharity law. The charitable company's Iruslees and directors, held office during Ihe period, 1st April 2023 to 31sl March 2024 were.. Nick Grinham Francis Chiwariro (Treasurer) Shaun W8bst8r Rachael Dodgson Brian Frisby Phllip Jackson Harish Jani Paul Rackham Richard Hyam Day to Day Management of KeyRlng Truslees delegate day to day management of KeyRing lo Karyn Kirkpatrick Helen Bradley Tracy Hammond Theresa Egbuniwe Chief Execulive Director of Resources Direclor ol Research and Innovation Finance Manager and Company Secretary
KeyRing -Living Support Notworks Year Ended 31°, MaT¢h 2024 Report of the Dlrectors and Trustees for the year ending 31 March 2024 The Trustses presenl their annual report and financial statements for Ihe year ended 31s1 March 2024. The financlal slatemenls have been prepared in accordance with accounting principles sel out in note 1 to the financia1 slalemenls and comply with the charitable company's Memorandum and Articles of Association. the companles Act 2006 and "Accounting and Reporting by Charities: Slalemenl of Recommended Practices applicable lo charities preparing their accounts in accordance with the Financial reporling standards applicable in Ihe UK and Republic of Ireland {FRS 102) effective" {Effeclive 111 January 2019). KeyRlng History KeyRing 15 a registered charity (No. 1054234) and a company limited by guarantee {No. 3176431).11 has been working In ils present form since 5 April 1996 when it was regislered as a charily. Prior lo this, KeyRing was a re9islered charitable Injst (No. 1001220} Ob eclives and AGtivl Public B¢notit All our activities aim lo further our mission which is to connect people and inspire them lo bulld th& life they want. The KeyRing vision is a welcoming worfd wilh communities that ce18brale the skills and L8lents of everybody. KeyRlng's alms and obieclives are outlined Sn our Memorandum and Articles of Association. The main aclivilies undertaken lo further KeyRing's purposes for th8 public benefit in 2023124 included Llving Support Networks, Community Hubs, Community based support for people with a range of support needs, Chain Reaction p8tln8rship to reduce social isolation for older people. Ancora partnership with Big Lottery Award. Warwickshire Mental Health and Wellbeing Collaborative Partn&rshlp, North Yorkshlr6 Engag8menl and Partscipalion service Who bonoflts from KeyRing'8 support? During 2023124 KeyRing provided support to 3081 individuals, 1,621 people in our Networks and community-ba5ed services and th8 North Yorkshire Engagement and PartIpation Service. alongslde 1460 people using the Ancora project. Our flexible, just enough. support enables us lo reach out lo more peopl6 in our local communities. Community Hubs, group activities and conneclions lo the wider community's resources including clubs. groups and social aclivilies enable Individuals lo lake control of their lives and build their own noiwork of support. During the year 279 {190/0) of the people we supported in our N8tworks and community-based services moved on Irom our support. The funding for our support comes in Ihg main from contracts with Local Authority Social Setvices, slowly we are Seeing councils, their public health services and Integrated Care Boards pooling resources. e.g., Newcaslle Chain Reaclion, and the Grirnsby Networks with a greater focus on prevenlalive support. We also receive income through Personal Budget payments, Individual Service Funds and wilh a small number of self-funders. During the year we renewed our proje¢l with Self Direcled Futures lo assist us to develop our offer to people who can access Individual Service Funds, with the aim of increasing people's ckKJice and control over their support. Our project work is funded by grant making bodies. The people we support decided lo call Ihemselves Members. as they cfflsidered they were members of a wider nalwork ol support. We know that our supporl can change lives and we Iherefore believe that moro people should bo able lo benefit from KeyRing. Whal is imporlanl lo all of us, including KeyRing Members. is choice and control regarding..
KeyRing-Llvlng Support Networks Year Ended 31°, Mar¢h 2024 'Where l Live, 'Personal life, family and frieIs, 'What I do with my lime, 'My community and a betler World. The Iruslees confirm that they have had regard lo Ihe Charity Commission's guidance on Public Benefit wh8n exercising any powers or duties lo vthich the guidance is relevant. Strateglc Rovlew 2023-24 During 2023 we started The Big Conversation. we hdd events and lalked to people we support. staff and volunteers, other slak8hold8rs. Wo reviewed progress on our Strategic Plan and discussed our priorities for tho future. People could respond via suNeys. ask questions on KeyRing Facebook. WhalsApp groups and Members Voice group as well as attend events and meetings. Over 6 months our Blg Conversations heard from people we support. people who work or volunteer for KeyRing and thoso we work alongside. People told us lols of things and we'v8 Ilslened and considored everything Carefully. Some k8y themes were.. Teams told us over and over that KeyRing's membership model provides the besl results for Members, leading lo real change In people's Iwes. People lalked a lol about health and health services. There was also a focus on paid Work for the people we support. Generally. people fell that we are doing the right things but that we could do mor8. Influence more, conn8Ct more and expèct mor8. Our Slralegic Plan was created from those conversations and launched in April 2024. supported by our vislon and misslon and our commitment lo delivering social care where: We all live in the place we call home, with the people and Ihlngs we love. in communities where we look out for each other, doing the things that maller lo us. Our plan is slrenglh-based and focused on the future.11 stren9lhens Members. control of Iheir own lives and futur8 and explores how KeyRing uses our connections, parlnorships and resources for change. We have separated our plan into three themes. Our leading theme is 'We &xp&cl more for people,. Our themes of championing ¢onnection and oommunily and investing in our future will support us in our key theme. Outcomes for Members All KeyRing Members have an individual support plan which Ès co-produced wilh thèm lo maximise Iheir choice and Control over th8ir support. Members identify and work on the outcomes relevant to them. Our staff are trained to encourage and enable Members lo18ad Ihelr support as èxpèrts of thalr own experience by.. Using Strengths based conversations, focusing on skills and assets Including the person's support networks Considering life 9xperience, age, gender, culture. language. beliefs. identity Providing accessible information. Linking with extemal and local organisations and groups, including advocacy We monitor our own Key Performance Indicators to idenlify where improvements are required and use the feedback from the annual support salisfaclion surveys. complaints. compliments as part of our work on co-producing our services with Members. KeyRing is monitored by Local Aulh¢yltles contract monitoring arrangements including Key Performance Indicators, Oulcomes Monitoring andlor annual review visits. During 2023124 there was a national roll out of Strengths Based Support training by NDTI to all frontline staff, 3 workshops ovgr consecutive weeks focussed on
KeyRlng-Living Support Networks Year Ended 31" March 2024 Exploring Strengths Bas8d conversations. Outcome & Planning Supporl. Reviewing Plans. This training was to build on existlng knowledg6 as a way of 8nsuring that all leams were praclicing strenglhs-based support. Co- rodu¢tlon Wè have us8d the Making It Real framework and Ihe statgmon15 with teams. With both teams & Members, examples include Teams in Croydon and North Wales have used Making It Real We St8temenls for Flexible and Integral8d Care and Support and w0fOrCe to focus on 'Whal good support looks like, and develop their support offer. Tho joinl Member and team workshop al the Hollins Hub in Oldham explored Pilot of the Making Safeguarding Personal pack and gel fgedback on the n8w Safeguaiding easy read guid8S. Online Member handbook lesl with Membgrs and getting fe8dback. Introduced the health inequalllles programme with Thera Trust. Explored the Making It Real l and W& Statements for Wellbeing and Independence, living the life I wanl, keeping safe and well. In Sheffleld a joint team and Member workshop was held lo plan and develop Ihe new Connect contract, discussing welcoming new Members. roles that exisling Members may play. agree how sessions are recorded. reviewing m8rkeliw)g materials and identify what else is needed. Using the Making 11 Real l and We slatemenls for Acllve and supportive ¢ommunilies, keeping family, Iriends and connections. Dlgltal Incluslon Our Digital Inclusion Programm8 is in ils Slh year and continues to go from strength to strength. We conilnue to transform th6 way we work with Members on digital inclusion supporting MemrS to access digllal equipment, online digllal resources as well as supporting with building confidence Ihrough the learning of new skills. Over 500 Members have benelited from the programme in terms of exlra support in ihe form of equipment, training, advice and guidance on using digital equipment. During th8 y8ar we benefitted from the support of the DOT project and the Digilal Accelerator Programm8, the DOT project consult, menlor, coach soclal organisalK)ns to help them build digital resilience and confidence. They are supportlng KeyRing to create a Member digital inclusion & engagement strategy. We have done a slakoholder mapping exercise gnd SWOT analysls of the digital inclusion & engagement work with Members. The purpose of the slralegy Is lo ensure as many Members who wlsh lo, get nneCted, slay connected online and gain digital skills. The digital work continues wilh a quarterty working group showcasing goc#J practice in KeyRing. We also benefited from working with the Open Universily to Co-design a staff induction guide with Bristol members looking al the importance of supporting Members wilh lechnotogy. This includes Iraining and resources for new staff and be used as a refresher guide for existing staff. Holding a workshop wilh digital volunteers from Abilitynel on how to support people wllh a learning disability to use lechnology. We showcased three areas (South London. Bextey and Oldham) and Members allended lo share their stories and experience. We produce a quarter newsletler showcaslng work done and used as a remlnder of what Ihe programme is and the resources on offer. Thi5 newsletter is shared with teams and highltght the excellent work around the counlry using cas studles and photos to demonstrate impacl. Dlgital Champlons We have 18 digital champions across the country who ar8 regularly working with Members on their digital skills and glvg advice and support on how lo stay safe online. These digital champions play a viL81 role in their teams and have an interest in all things lechnological.
KeyRlng -Llvlng Support Notworks Yèar Endèd 31*1 Mar¢h 2024 Dlgltal Champlons Network IOCN) We continue to invest in Digital Unites, Digital Champions NeOrk portal. This training and resource portal helps support the digital champions by providing valuable national suppori. The DCN portal enables the champions to complete courses, obtain resources e.g. lesson plans, and engage wilh other champions across the country Irom a wide variety of organisalions. There are also regular meet up sessions online with tho digital champions sharing learning and knowledge as well as training sessions on a wide variety of subjects. Empowerment Ovar the past year we have 8Stablished a successful Member Voice group. Member represenlalives from across the country come together virtually lo share good news, feed Into how KeyRing OPFJrates and learn about external opportunities. This has led lo an increase in opportunities for Members lo represent KeyRing and Iho voice ol olher Members. Including Learning Disability England's Conference, More than a provider events. and various online webinars, A slorylelling workshop was codesigned with Members. The workshop empowers Members to tell Iheir story in an en9aging and meanin9ful way. Members and self-advo¢ales produced blogs and podcasts, pri>Juced KeyRing Newspapers and facilitated online social activilies. There are hvo Truslees with Lived Experience. Two Members were employed as part of the My Hoalth My Way projèct. chlevements and Performance Buslness Development We have focused much of our development time on retaining and growing exisling KeyRing seNIC8S. Sp8ciflc a¢hievam8nts include.. The Lambeth Floating Support and Warwickshire Short-Term Vulnerable Adulls Service oonlracls have be8n successfully retained. The Somerset neNvork was reiained despite a short nolice period, wilh 10 Members choosing lo continue their support funded by Personal Budge15. A review of the network place price has increased income, and securing a place on ihe Somersel Specialist Framework opens further growth opportunities. 6 contracts were extended into 2024125. A second neOrk in Gateshead was ¢ommissloned, funded by the NHS North East and North Cumbda Inlegraled Care Board {IC8). Bexley generaled £35,206 in new income by expanding beyond the commissioned block contract, incorporating spot purchasing, Direct Paymenls, Individual Service Funds {ISFs>. and a self-funder. Warringlon generalgd £42,474 In new income by extending support lo people thown lo Mental Health Teams. ISF development We have made significant slfides in developing and implementing ISFS to enhance Member choice and conlrol over Ihelr support. An overview of developments indude- Bexley: Development.. Focused on expanding our KeyRing offer and altemattve support options for people to utilise their Personal Budgels effectively. Implementation.. Sgcured the first ISF in August 2023. currently managing ISF budgets for six people. Resources- Developed a suite of SSF resources available for other KeyRing services. Sheffield City Council.. Co-production: Partnere(i to co-produce Sheffield's ISF offer. T8sI and Learn Programme.. Selected as otke of Iwo providèrs for the initial phase.
KeyRlng-Llvlng Support Networks Yèar Ended 31. March 2024 Royal Borough of Greenwich- Co-production: Engaged in co-producing their ISF offer. Early Adopter Programme.. Chosen as one of four providers for the programrne. Tralnlng and Capaclty Buildlng= ISF Training has been rolled out to all members of the Leadership Team, all the London teams and a number of staff within the Oldham and Shoffield teams. Further ISF Iraining will be arranged as LAS adopt an ISF offer. Nelworklng Through our involvement with Ihe Self.Directed Support Neork. KeyRing has quickly become a well-respecled ISF Provlder. We have been asked to presenl al forums such as th8 East ADASS Regional Team meeting, the Lancashire Provider Network and the 8usiness Development Lead is the co-chair of the Neighbourhood Care NeO[k alongside Simon Duffy. These opportunilies have led to further opportunilies lo neiwork wilh commissioners and raise the profile of KeyRing including exploratory me81ings In af8as wher8 we don't currenlly work. Other examples of profile-raising OPFiorlunili8s include: Being invited by TLAP lo showcase KeyRing as an innovative provider at the Adult Social Care Training Conference Integrated Commissionlng. Conlribuling a case study about KeyRing Community Living Networks which has beeFI included In the LGA'S Guide on 'Developing a housing wilh support pipeline forpeople wilh a learning dis8bllily 8nd 8ulls¢lG people.. KeyRing then presented and were a panel member al the launch of the LGA Guida which was attended by 100+ servlce directors and commissloners. Workforce Employment Horo $ our now HR and Payroll syslem Ihal consolidates tThesheets. expenses, and all 8mployee-r6laled information Into one platlorm. Thls integrallon has slreamlined our processes and reduced the risk of dupllcalo enlrles. 11 will also enhance communication wilh our workforce, allowing us to beller gauge their well-being. Whilg there Ss still work lo be done to fully implement it, we are now moving to the nexl phase ol our digilal slralegy.. replacing the finance system. We¢ also nollced an improvement in the quality of applications during our rfycrultment pr¢Jc8S5, and vacancy rates have stabilized. Reward The board has decided to malnlaln our status as a Voluntary Llvlng Wage Employèr, which is a positive development. This decision has resulted In a significant wage Increase for our frontline workers. helping us rernaln compellllve. However, the additional cosls have not yet been fully offset by increases In Local Authority Contracts, so this remains a focus area. Additionally, we have awarded an 80/4 pay increase lo all olher employees lo show our apprecialion and help wilh the rising cost of living. We've also increased the Irainlng budget per employee and are exploring other low- cost ways to reward our staff for Iheir contributions lo KeyRing. Learnlng and Developmont Our Learnlng and Development Manager, initially appointed on a tempordry basis. has now been confirmed as a permanent role due to the slgnificanl impact and benefits il brings. We have establlshed a bi-monthly peer group for our Support Coordinators lo sharo ideas. provide support, and develop management skills for future opportunities. As parl of our digital strategy, we introduced a new Learning Managemenl Platform called Thé Léarnlng Zone. Allhough it's slill in Its early stages, it promises to improve the quality of Iralnlng, access to training, and monitoring capabilities. Inslghts tralnlng and individual profiles have been rolled out lo all teams nationwide and have been very well recelved. We aTe now supporling managers lo keep Ihls Initi81ive active and deliver further team sessions locally. The indudion and probation process has been Ihoroughly revamped and now seNes as a hIgqualItY Introduction to KeyRlng and the first part of our new Keystèps d8v&lopmént programm& for all employees. We have also conlinued our leadership development Ihrough Impellus.
KeyRing-Living Support Networks Year Ended 31$1 March 2024 Wollb•ing The Wellbolng Portal is proving popular, and employees are very salisfied with TELUS Health. which provides our Employee Assistance Programme and an app lo support daily well-being. We have improved our scruliny around personal safety plans to ensure Ihey are meaningful and tailored lo individual work aclivities and rlsks. Digltsl We have started to introduce slngle slgn-on for system510 51reamline access and improve Security, This is a long-term project as each system presents unique challen9es in how they interact with others. We are reviewing the system we use lo support Members and are considerlng whelh6r to deslgn our own or purchase an off-lhe-shelf solution. A User Design group has been established to foctss on this and d&lermino our oxacl needs. The Induction and probatlon process has been thoroughly overhauled and is now a high quality introduction to KeyRlng and the flrsl part of our new Keysteps development programm6 for all employees. We have conllnued to run our Leadership development Ihrough Imp811us also. Communlcatlon Global connection work continues. This year saw us extending thls further through our engagements with Cillzen Neork and our commitment lo leading the Global Self-Dire¢led Suppori Network. A new web page has been created that is speciticalty for Memb8rs. 11 conlains the new Member handbook and other ewly created documentslpolicies in plain English. 11 means that all Members can see what they can expect from KeyRing. Alongsid8 work lo develop the hubs. we have created an intranet site Ihal enables hub leads lo sharè ideas and Informalion. The sit8 is a directory ol ideas lo accompany more formal sessions that are r8quir6d. 11 is well organised and mak8s good use of connections. Very lilue of whal we share has been produced in hous8. For example, we would not cr8al8 easy read guides lo voting when we can use our connection with My Vole My Voice and share their work. Fundralslng and Grants KeyRing generally does not raise funds from thè publiq very occasionally staff or volunteers offer to und6rtak8 a sponsored aclivily and donale the proceeds lo KeyRing. In 2023124 there were no such activities undertak8n, and we have no plans lo develop fundraising activities with the general publ. KeyRing does apply for granl funding from charitable trusts and other organisalions and agencies lo develop new ideas, o.g. the Ancora Project in Oldham is funded by the Nalional Lottery, The Getling Going Iraining programme lo develop work readiness skills received ESF funding. We were su¢¢essful in applylng for Ihe following granls Big Lollery granl for Ancora Projects - £89,700 Sarah Lee¥ Hardship lund - £38,390 Criminal Justice work - £24.622 Boccia Sport England giant - £14,770 Home from Hospltal pilot granl - £13,500 Newcastle Memory Tea group - £5,000 Action Together- Household grant £3,707 Ancora Project The Big Lottery funded Ancora Project is a non-profit collaboration beeen KeyRing, Christians Against Povarty (CAPI, Oldham Foodbank and Side by Side Counseling services. We are halfvvay into 3 years of continualion funding from the Big Lollery. The longer-term impact of the ¢harily's work As local authorities reduce the lime available for support lo vulnerable people and the number of people eligible for any slalutory fijnded 5UPPOrt, we have been keen lo ensure thal Ihe impact of our inlervenlion is sustainable.
K•yRlng -Llving Support Networks Year Endéd 31st March 2024 We have sought alternative sources ol funding lo address unm81 need and worked wilh partners and communities lo Idenlify activity that will make the biggesl differenc8 and can be replicated. We have a timely opportunily lo promote a proven approach that meets emerging requirements from Local Aulhorilies to provide assevstrength-based approaches thal enab18 people to Ilve ordinary lives in supportive communllles. We have been workir)g closely with organisations from Scotland, The N8therlands, Austria, Flnland. New Zealand who have developed their take on KeyRing Network5 to create a global network lo explore how we move from servlces who access the community lo services that are a valued part of their community. Folkiwing our first international wgbinar wo have joined Citizen Network lo lacililale wider connections and conversations. nanclal Review Transactions and financial position The charity has pr6pared theso accounts for Ihe year ended 31 Mar¢h 2024 in accordance with Ihe requirements of FRS102 The Injstees are pleased to report that the charty has genèrated an ¢)peraling surplus of £206.715 (£15,347 in 2022123). The year saw a 7Yo increase in income from £4.091,104 lo £4,369.531 This is mainly dua lo inflationary Increases on ¢onlracls received in the year. Charilable expenditure also increased by on prévious year ¢Jue to the living wagg increase and the general cost of Ilving rises seen through the year. The financial posS1Son of the charitable company rèmains stabl6. The Stslemenl of Financial Activities for the year shows 10181 surplus of £206,715. There was a net transfer of £22,220 lo deslgnaled funds. The restricted funds stands al £ 99,158 {2023.' 51.635) as al 31 March 2024. The unrestricted designaled funds stands al £4,602,24612023'. £4.591,824) as at 31st March 2024: these funds are sel aside by the Iruslees lor the purpos6 sel out in note 15 lo the financial slalement. Unrestricted General fund5 are £978,470(2023: £838.153) Total funds have increased lo £5.679.873. Although Ihe past few years have been diificult in terms of general conditions of the economy and the government pollcy relating to spgnding cuts. KeyRing has continually strived to provide qualily seNice wilh less money. Re¥eprfes Policy The trustees have eSta[Shed th8 lev81 of res6rv6s (Ihal is those funds Ihat are freely avai18ble} thal the charitable company ought to hav8. Reserves are needed to: pursue the growth Strategy cover at leasl Ihr8e monlhs equivalent cost ol running the charitabl8 company in a decision lo cease operations protect against polenlial loss ol existing contracts fund short term delicils on partially full Netwoiks on subsidy contracts. In 2023124, the Board notes that reserves indud8 the un9ncumbered property in Corsham Street, invaslments wllh M&G Charifund and Sustainable Mulli Asset Fund. The trustees note that the M&G investment has slightly decreased in value bul this is recognised as a long term investment and Ihe trustees were aware of the risks when Ihe inveslmenl was acqulfed. Rlsk management The trustees have a ri3k management strategy which comprises: a quartèrly review of the risks the charitable company may face the eslablishmenl of systems and procedures to mitigate those risks implementation of procedures designed to minimise any potential impact on the charitable company should those risks maleTialise.
K•yRing-Llving Support Networks Year Ended 31" March 2024 During 2023124 the trustees continued lo contend wth risks. As well as Ihe Foundation Living Wage increase and the impacl of rising inflation increasing our expenditure. The impacl of the curfenl econofflic and political changes is regularly reviewed by the Board in order to provide a robusl response lo ensure long term survival of the organisation. A key elemenl in the management of financial risk is Ihe selting of 8 reserves policy and ils regular review by trustees. Informallon Se¢urlty and Data Protedlon KeyRing is Cyber Essentials Plus accredited and works to the principles of IS027001 (where appropria18} W8 have continuous improvement approach lo information and cyber security, wothng in partnership with TSG who provide the Dig5tal Snfraslfucture. TSG mainlaln an Infomialion Security Policy and have IS027001, IS09001 and IS014001 accredilalions. A copy of tha TSG Information Security Poltcy has been supplied lo KeyRing and is availabl8 on request. KeyRing hold Infomialion on the people we support. our emptoyees. volunteers. commissioning bodies and olher suppliers or partners. we aim To ensure all information held within KeyRing's digital infraslruclure is secure and prolected from any external allempls lo access our data or systems. To ensurè all users of our digilal Infrastructure are fijlly trained and understand the importance of the parl they play in keeping KeyRing secure. To ensure all those who work on behalf of KeyRing are equally ¢ommilled lo Ihe highest $18ndards of Information Security. To be prepared, as much as is possible, for any evenl in advance lo minimise the impacl. To conlinuously18arn and d8velop our approach to infomiation security. KeyRing reviews data and security breaches as they happen and addresses issues wher6 they arlse to provanl further occurrences. There were no reportable breaches in the year 2023 10 2024. The Risk Register specifically refers lo Cyber and Information Securily as key risks lo Ihe organlsalion and w8 have noted relevant Controls in pla¢8 lo manage and monllor the process. Structures Governance and Mana ement KeyRing is a registered charily (No. 1054234} and a company limilod by guarantee (No. 3176431).11 has been working in ils present form since 5 April 1996 when il was registered as a charity. Prior lo this, KeyRing was a reglslered ¢harilable trust {No.11)01220). The governing documents are Memorandum and Artides of Association, the Arlicles ware revlewed and revisod in November 2016. KeyRing has two area offices-. in London and Oldham. There are small satellile offices in Croydon, as required by contract. Much of the lime of our fronl-llne workers is spent 'in the field,, working with Member5. KeyRing rnainlains a cosl-effectlve structure of management which provides the maximum possible number of support hours whilst ensuring adequate r8sourc8S to maintain a rigorous system of supervision and the flexibility lo respond lo emerging demands. The Chief Execsjtive reports to the trustees ol the charilable company who meel quarlerly. There is an Inlegraled Governance Subgroup which considers malters such as the budgel, Ihe investment of funds, muneration of staff and provides an audil and scrutlny role. This grwp comprised three Irustees, and the Chief Executive. The Board focuses on slralegic decision making and delegales the day-lo-day managemenl to the Chief Executive. The Board ensures Ihe Ser)ior Managemenl Team have in place the necessary controls and systems to achieve the oulcomes specified in all our conlracls. KeyRing has a Quarterly Quality Meetuig. which brings together different Quality strands and our own internal KPI monitoring processes, including outcomes and satisfaction survey resulls. The Senior Managemenl Team monilors and reviews progress on organisalional plans, service objectives, policies and procedures and oversees a programme of audits focusing on specific areas ol quality l improvement. The annual organisalional planning cycle uses the Quality information to ensure key areas of improvement are addressed al slralegic, team and local level. io
KeyRing-Living Support Networks Year Ended 31° Mar¢h 2024 Pay Policy for Senlor Staff Tho Irustges who are also directors of the charitablg company givé of th6lr time freely and no Iruslee recelved remuneration for the year. Details of trustees. expenses and related paty transactions are disclosed in notg 7 to the accounts. In setting the r8mungralion of the CEO and revi8wing il, the Irustees lake 8XP8rt independent human re50urcas pay and benefits advice lo help them make their decisions, The ITUStees consider how a fair salary can be set considering the following-. the purposes, aims and values of Ihe charity and ils beneficiary needs.. the type of skills, experiences and competencies that the charity needs from ils CEO., the charity's ability to pay. This includes the cosl to the ¢harity of raising pay, and whether il is sustainable, and how appropriate the level of pay. and any pay increase is in the context of the charity as measured against th8 n6ods of Ils charilabla purposa and beneficiaries: their assessment ol the charity's performance and the CEO'S perfomiance against expec18ts'on, both short and long term., the likely impact on and vlews of bèneficiariès. funders. donors. volunte6rs and pot6nlial volunteers. where appropriate Trustees take specialist advice on setting the pay level of all senior staff including the CEO, pay is reviewed regularly and nomially adjusted In accordance 1h a benchmaTk of similar role5 in peer organisations in the sector. Tho remuneration is sel within the lower quartile of the range for similar roles. Trustees Recruilmenl Trustees are r8cruited based on the skill mix of Ihe existing Iruslees. lh8 needs of the organisalion and our slralegic objectives. This includes trustees with lived experience of receiving services. Wh8n vacancies for Iruslees exist, these are advertlsed nationally, c8ndidales are then short-lisled and inlerviewad, and lh8 most suitable c8ndidale is appointed by the Board Appoinlmenl Panel who include KeyRing Members. During the year the presiding Chair, Joanne Land. resigned from the Board and Nick Grinham became the Chalr of the Iruslees. Francis Chiwariro is tho Treasurer and is the Chair of Ihe Integrated Governance Sub-Group which oversees Ihe linancial str81egy of KeyRing. Trustees. Induction and training New Irusleès are provided wllh an Induction pack consisting of Ihe governing documents, previous Ihfe8 years, trustees, annual reports and linanclal statements and policies and procedures of the charitable company. Trustees are encouraged to attend appropriate exlernal training evenls where the58 will prove useful to Ih8ir role in KeyRing. All Iruslees receive 8ccessible induclion Iraining and extenslva support throughout thelr tenure to ensure they are fully equipped lo lead KeyRing. Dlverslty Our vision Is lo be truly representative of the communilies serve. In addition to fulfilling our responsibility lo promote equal opportunities in all aclivilies, we are committed lo developing an organisational culture which values people from all backgrounds and seclions of society. We recognise and celebrale the contribution everyone can make lo our work. In 2021 we sel up the Diversity Group to support us to develop this work further. We aim to reflect diversity on our Board, in our leadership leam, amongst our staff. volunteers and Members. il is aboul fullilling our polenlial, creating the right culture for talent to flourish and creating an exceptional organisalion that serves our Members well. li
KeyRlng-Llvlng Support Networks Year Ended 31" March 2024 Two members of Ihe Leadership Team hav8 completed a Level 7 Module enlilled Strategic Approaches to Diversity. Equality and Irbclusion. Focussing on different aspects of Ihe organisalion their final reports will contribute to our EDI activity as part of th8 next strategic plan. Partnershlps Tha Ancora Project Is a successful partnership. led by KeyRing, with Christians Against Poverty {CAP), Oldham Foodbank and Sid6 by Side Counseling services. We also work with our partners Mental Health Concern and S8arch lo deliver Chain Reaction, supporting socially isolated older peopl8 in Newcastle. We are part of the Wellbeing for Warwickshlrè Collaborative Partnership delivering a CMpreh0n$1v& prevenlalive Wellbeing service across the County. KeyRlng continues lo work with 'Neighbourhood N8tAwrks', an ind8pendent organisatson constitut8d to replicate KeyRing's work in Scotland. KeyRing is a partner organisation with Think Local Acl Personal and an organisalional member of Learning Disability England, Voluntary Organisalions Disabilily Group. Association of Mental Health Providers, Coalition for P8rsonallsed Care and is part of the Social Care Futures movement. K6yRing is open lo partnerships al every level and espe¢ially where such relationships may enhanee stability and growth. Over the years there have been requests for information, partnership and sometimes technical support from KeyRing by organisalions from New Zealand, Auslfalia, Ireland. Finland. Denmarf( and the Netherlands, olc., who have a stron9 admiralion for our principles and model of support. During 2023124 we have supported Ihe establishment of a global network for organisalions developing the network model in their countries. statement of trustoos, résponslbllities The Iruslees {who are also directors ol KeyRing Living Support Nelworks for the purposes of company lawl are responsible for preparing the Report of Ihe Trustees and the financial stalem8rils in accordance wllh applicabl& law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law rgquires the trustees lo prèpare financial slalemenls for each financial year, which give a true and fair View of the slate of affairs of the charilable company anrj of the incoming resources and application of resources, including the income and exp8ndiluT8, of the charitable company for the year. In preparing these financial slalements, the Irust&8s are required to- S818cI suitable accounllng policies and then apply them consislently.. observe the methods and principles in the Charities SORP- make judgemenls and estimales that ale roasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject 10 any material doparlures disclosed and explained in the financial statements. prepare the financial slaiemenls on the going concern basis unless it is inappropriat8 lo presume that the charitable company will continue in operation. The Iruslees are responsible for keeplng adequal6 accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable company and enable Ihem to ensure that the financial slatemenls comply with the Companles Act 2006. Th8y ar8 also responsible for safeguarding the assets of the charitable company and hence for laking reasonable steps for the prevention and deleclion of frdud and other irregularities. 12
KeyRing-Llvlng Support Networks Year Ended 31" March 2024 The trustees are responsible for maintenance and inlegrily of Ihe corporate and financial information Included on the charitable company's website. Legts181ion in the United Kingdom governing the preparatlon and dissemination of financial statements may differ from legislati( in other jufisdiclion. Infomiallon providèd to audltor In $0 far as the Iruslees are aware there is no relevant audit infomialion of which the charitable company's auditor is unaware- and the trustees have taken all steps Ihal they ought to have lakon to make themselves aware of any relevant audil information and lo establish that the auditor is awaro of that information. Auditoi$ In ac¢ordan¢e with the company's articles. a resolution proposing that SCB {Accountantsl Ltd. be reappointed a8 auditor of the company will be pul al a General Meeling. Approved y the trustees on signed on their behalf by . Nlck Grlnham (Chalrl 13
KeyRlng -Llving Support Networks Year Ended 31" March 2024 INDEPENDENT AUDITORS REPORT TO TtrIE MEMBERS OF KEYRING LIVING SUPPORT NETWORKS LIMITED Oplnlon We have auditod the financlal slalements of KeyRing Living Supporl Networks (the 'Charity'> for the year ended 31 March 2024 which comprise the statement of financial aclivilies. Ihe slatemenl of financial position, the stalemenl of cash flows and the notes to the financial slalemenls, 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 (Uniled Kingdom Generalty Accepted Accounting Pracli¢&). In our opinion, the financial slalements.. give a true and falr view of tho stale of the charilable company's affairs as at 31 March 2024 and of SIS Sncoming resources and application of resources, for the year then ended., have been properly prepared in accordance wilh United Klngdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audil in accordance with Inlernalional Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under Ihose standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independenl of the Charity in accordance wlth Ihe elhieal roquirements that are relevant lo our audit of the financial slalements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In a¢¢ordan¢e wilh these requirements. We believe that the audil evidence we have oblalned is sufficient and appropriate to provide a basis for our opinion. Concluslons rolating to going concern In auditing the fin2n¢ial slalèmenls, we have concluded that Ihe trustees, use of the going concern ba$1$ of a¢untIng in the preparation of lh8 financial statements is appropriate. Based on the work we hav8 P8rformed, we have not identified any material uncertainties relating lo events or Condillons that, individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least Iwelva months from when the financial stalemenis are authorised for Issuè. Our re5ponsibililies and the responsibililies of the trustees with respecl to going concern are described in the relevant sections of thts report. Other Informatlon The other Information Gomprises the information included In the Irustees. annual report. other than the financial statements and our auditor's report thereon. The Iruslees are responsib16 for the other information contained within the annual report. Our opinion on the financial slalemenls does not cover the other information and. oxcepl to the extent otherwise explicilly slated In our rgport. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing $0, consider whather the other information is materially inconsistent with the financial statemènts or our knowl8dge obtained in the course of the audit. or otherwise appears lo be materlally mlsstated. If we identify such material inconsistencies or apparent material misstalements. we are required to determine whether thi5 gives rise to a material misstatement in the financial statemenls themselves. If, based on the work we have perfomied, w8 conclude Ihal there is a malerial misstatement of this other Information, we are required lo report thal fact. We have nolhlng to report In this regard. 14
KeyRing -Living Support Networf(s Year Ended 31st March 2024 INDEPENDENT AUDITORS. REPORT (CONTINUED) TO THE MEMEBERS OF KEYRINGIIVING SUPPORT NETWORKS LIMITED Oplnlons on other matters pr6s¢Tlbed by tho Companles Act 2006 In our opinion, based on the work undertaken in the cours6 of our audit.. The information glven in the trustees, annual report for the financial year for which the financial sla18menls are prepared, which includes the directors, report prepared for the purposes of company law, is consislenl wilh the flnancial sta16ments- and The directors, report included within the Iruslees. annual r8POrt has bèen prepared in accordance with applicable legal requiremenlg. Matters on whlch we are re9ulred to report by exception In Ihe light of the knowledge and understanding of th8 Charlty and ils environment obtained in the course of the audit, we have not identified material misslalements in Ihe directors. report included within the Iruslees. annual report. In the light of the knowledg8 and understanding of lh8 company and ils environment oblain6d in Ihe course of the audit, we have not idenlilied material rnisslatements In the Iruslees. annual report. We have nothing to report in respect of the followlng matters in relation lo whlch the Companles Act 2006 requlres us to reF)ort to you If, In our oplnion.. adequate accounting records have not been kepl, or relurns adequate for our audit have nol been rec81V8d from branches nol visited by us- or Ihe financial slalemenls are not in agreement wSlh Ihe accounting records and retums; or ceriain discbosur83 of Irustees, remuneration specified by law are not mad8,' or certain disclosures of trustees, remuneration sp8cilied by law ale nol Made; or we have not received all the informallon and explanalions we require for our audit.. or th8 trustees w8re not 8nlilled lo prepare Ihe financial statements in accordance wllh thè small eompanios regime and lako advantage of Ihe small companies. exemptions in preparing the trustees, annual report and from the requirement to preparè a slralegic r8POrt. Responslbllltles of ¢TUSt8es As explained more fully In the slalement of truslees. annual responsibilities. the Iru5t085, who are also Ihe dlr&¢tor8 of the Charity lor the purpose of company law, are responsible for the preparation of the flnancial slalements and for being satisfied that they give a true and fair view, and for such inlernal control as the Irustees determine Is necessary lo enable the preparation ol financial slalements that are fre8 Irom material mi551alement, whether due to fraud or error. In preparlng the financial slatemenls. the Iruslees are responsible lor assesslng the Charity's abilily to continue as a going concern, disclosing, as applicable, matters related lo golng concern and using Lhe going concern basis of accounting unloss the Iruslees eilher inlend lo liquidale the charilable company or lo cease operation8, or have no realistic allernalive but lo do so. Auditor's responslbilities for the audlt of thè flnanclal statemènts We have been appointed as auditor under section 145 of the Charities Acl 2011 and report in accordance with re9ulalions made under section 154 of Ihal Acl. Our obleclives are to obtain reasonable assurance aboul whether the financial stalemenls as a whole are free from malerlal misslalemenl, whether due lo fraud or error. and to issue an auditor's Teport that includes our opinion. Reasonable assurance Is a high level of assurance bul is not a guarantee Ihal an audit conducted in accordance with ISAS {UK} wlll always delecl a material misslalement when il exists. Misslatemenls can arise from fraud or error and are considèred material if, individually or in Ihe aggregate. they Cld reasonab be exp6cled lo influ8nc6 the economic decisions of users taken on Ihe basis of these financial slalements. 15
KeyRing-Living Support Networks Year Ended 31" March 2024 INDEPENDENT AUDITORS. REPORT (CONTINUED) TO THE MEMBERS OF KEYRING-LIVING SUPPORT NETWORKS LIMITED The extent to which our procedures aro capable of detecting irregularities, in¢ludlng fraud, is detailed below: Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delect material misstatements in respecl of irregularities. including fraud. We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which il operates, and considered Ihe risk of acts by the company that were contrary to applicable lav and regulations, Including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulalions. We discussed amongst the audit team the identified laws and regulations, and remained alert lo any ndicalions of non-compliance. During the audit we focussed on laws and regulations which could reasonabty be expected to give rise lo a material misslalement in the financial slalemenls. including. bul nol limited lo, Ihe Companies Act 2006. UK lax legislation. Charity Act 2011, SORP 2019. Our lesls included agreeing the financial stat8ment disclosures lo underlylng supporting documentation and enquirles with management. Our procedures in relation to fraud included but were not limited to.. inquires of managem8nt whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial slalemenls. We determined that the principal risks r8laled lo posting manual journal entries lo manipulate financial performance and management bias Ihrough judgements Sn accounting eslimales. We also addressed the fisk of managemenl override of internal conlrols. including lesling journals and appropriateness ofolher entries in the nominal ledger- reviewing transactions around the end of the repotling period. and evaluating whether there was evidence of bias by the directors that repr8senled a risk of material mlsslalemenl due lo fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. Including those leading lo a material misslalemenl in the financial slalemenls or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the evenis and transactions reflected in the financial slalemenls, as we will be less likely to become aware of instances of non-compliance. The risk is also grealer regarding Irregularities occurring due lo fraud ralher than error. as fraud involves inlenlional concealment, forgery, collusion, omisslon or misrepresentation. A further description of our responsibilities for the audil of Ihe financial slalements is located on the Financial Reporting Council's website al www.frc.org.uklauditorsresponsibililies. This description forms part of our Report of Ihe Indapandenl Auditors. Use of our report This report is made solely lo the charilable company's members, as a body. in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those mallers we are required lo slate lo them in an audilols report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility lo anyone other Ihan the charitable company and the charitable company's members as a body, for our audil work. for this report, or for the opinions we have formed. Jeffrey Bor nior Statutory Audltor} For and on behalf of SCB (Accountants) Ltd Chartered Accountants & Statutory Auditors 31 Sackville Stroot Manchester M13LZ Dale=..... c* 161.l.l.l.....-. 16
KeyRlng -Llvlng Support Networks
Year Ended 31st March 2024
STATEMENT OF FINANCIAL ACTIVITIES
(Including income and expenditure account)
For the year ended 31 Mar¢h 2024
2024
2024
Unrestrictèd Funds
Deslgnated
G¢neral
2024
2024
Total
Funds
2023
Total
Funds
Restrict8d
Funds
Noles
Incomlng resources from:
Charltable activlliès
Olher Incoming Resources
Investment income
3.944.447
13.399
243.973
167,711
4,112,158
13,399
243,973
3,832,192
40,968
217,944
Total Income
4.201.819
167.711
4 369 530
4091104
Expondlture
Cost of r8ising funds
Expenditure on charitable
activities
Governance
234.903
234,903
230,075
3,344
3.717.287
87.092
120.189
3.840,820
87,092
3,762,753
82,929
Total expondlturo
4,039 282
120,189
4162 815
4 075 757
Net incomel
KeyRlng-Living Support Nelwork$ Year Ended 31°, March 2024 BALANCE SHEET As at 31 March 2024 2024 2024 2023 2023 Notes FIXED ASSETS Tangible assets Investment Property 132,582 2,900,000 135.926 2.900.000 3.032.582 3,035,926 CURRENT ASSETS Debtors & Prepayments Investments Cash al bank and in hand 10 11 578,378 949.664 1.460.767 2.988.809 649.921 958,117 1,101,022 2,709,060 12 CREDITORS Due with in one year 13 341,519 341,519 263,375 263,375 NET CURRENT ASSETS 2,647,290 2,445,685 TOTAL ASSETS LESS CURRENT LIABILITIES 5 679 872 5 481,611 FUNDS Unr8Strlcted Funds Unreslrt¢led - Designaled funds Unrestricted General funds 16 4.602.245 978.470 4,591,824 838 153 16 5,580.715 5,429,977 Réstrl¢tÈd funds 16 99,157 51,635 Total charity funds 5,679,872 5.481,611 The Trustees have prepared the financial stalemenls In accordance with seclion 398 of th8 companios Acl 2006 and $eclion 138 of the charities A¢t 2011. These financial statements are prepared in accordance wilh Ihe special provision of P8rl 15 of the Companies Act relating lo small companies and constitute ihe annual financial slalemenls required by the companies Acl 2006 and are for circulation to member of the company. These financial statements were approved by Ihe truslees on are signed on their behalf by.. Francls Chlwarlro Trèasurer Nick Grlnham Chair The notes on pages 24 to 31 form part of these accounts. 18
KeyRing-Living Support Networks Year Ended 31°, March 2024 STATEMENT OF CASH FLOWS For the year ended 31 MaTch 2024 2024 2023 Note 17 Cash used in Operating Activities 115.773 116,868) Cash flows from Invesling activities Inlergsl Income Rental Income Purchase ol Investments Cash provided bylused by investing aclivities 64,392 179,580 43,145 174,798 500.000 (282,057) 243,972 IncreasellD8crease) in cash for the year 359,745 {298,925) Cash and Cash ?qulval•nt at Iho beglnnlng of the year 1,101,022 1,399,947 Cash and Cash equlvalent at the end of the year 1,460,767 1,101,022 Reconciliation of not movoment In funds to cash flow from operatlng actlvltles 2024 2023 Nel movement in funds Add back depreciation charge Inveslmènl income Ilncreaselldecreas8 in deblors Increaselldgcreasel in creditors Nel cash prov¢ded by (used inl operating activities 206,714 3,344 {243,973) 71,543 78.145 115,773 15,347 3,344 1217.9441 194.286 (11,901) {16,868) 19
KeyRlng-Llvlng Support Networks Year Ended 31" March 2024 Notes to the financial Statements 1. Accounting Policies The principal aceounllng policies adopted. judgements and key sources of estlmauon unc&rtainty in the preparalion of lh6 financial statements are as loltows: Legal Status The charlty is a company Ilmited by guarantee and has no share capital. In Ihe event of the charity being wound up, the liability In respect of Ihg guarantee is limited to £1 per member of the charity. a> Basis of preparation The financial stalemenls have been prepared in accordance with Accounllng and Reporllng by ChaTltles'. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordanc6 with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effeclive 1 January 20191 (Charity SORPIFRS10211. the Financial Reporting Standard appIable in the UK and Republic of Ireland IFRS102) and th8 Companies Act 2006. KeyRing - Living Support Networks meels the definition ol a publi¢ benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost OT transaction value unless othernise staled in Ihe relevant accounting policy nole{s). The financi81 slalemenls are prepared in sterling, which is the fijnctional currency of the chari18bl8 company. Monetary amounts in these financial slalement are rounded lo the nearest £. b) Incoming Resources Incoming resources are the amounts derived from the provision of charitabla $6rvlces and the receipts of grants and gifts falling within the ¢haTiiable company's ordinary activities. Incoming resources for the provision ol charitable services are deferred to the period lo whlch they relate. Voluntary income received by way of gifts and donalion is included in full when r8ceived. Revenue grants are credited to incoming resouices on the earlier of when they are receNed or when they are due. Where grants relate lo a specific future period, Ihey are deferred to Ihat period. cl Fund Accounting Unreslrlcted fur)ds are available to spend on activilies that further any of tha purposes of the charity. Designated funds are unrestricted funds lor Ihe charity which th8 Iwstees have decided al their discretion lo sel aside to u58 for a specific purpose. Restricled funds are ¢Jonations which the donor has specified aro to be solely used for parlicular areas of the charlty's work or for specific projects being undertaken by the charity d) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to mako a paymènt lo a third party, il is probable Ihal selllemenl will be requirèd and the amount of the obligation can be measured r8liably. Irrecoverable VAT is charged as a cosl against the activity for which the expenditu was incurred. e) Allocation of cost Costs are allocated directly lo nelworks or projects where they can be idenlifigd as relatlng 501gly lo that prolecl. Certain olh8r cos15 and stalf costs are attributable lo more Ihan one acltvity. In these cases the cost5 have been 20
KeyRlng-Living Support Networks Year Ended 31$¢ March 2Q24 apportioned to the individual activities the basis of time spent by the staff on matters relating lo those activities. C8ntral support costs have been allocated on the basis of resources used. Where possiblo. costs are allocated dIre¢l lo the activity lo which they relate and to individual networks. Governance costs comprise all cosls relating to th8 public accountability of the charitable company and Ils compliance with regulalion and good practice. These costs include trustees, expenses. audit costs and Ihe apportionment of the Chief Execulivo's and other Senior Managers. lime In facllilating the governance of the Iruslees, Operating lease agreemonts Renlal applicable to operating leases where subslantialty all of the benefits and risks of ownership remaln with Ihe lessor are charged against income on a stratght- line basis over the period of the lease. Capttallsation of Assets Assets purchased with a unit cost of £1,000, or more (unless they are laplops or similar devicos) are capilalised and included in the financial statements at Iheir cost Value. Laplops and similar mobile devices are treated as revenue cost in the year of purchase. Tanglble Ilxed Assets Tangible fix8d assets, other than investment properties. are depreclaled over their useful lives taking into account residu81 values, where appropria18. The actual live5 of th8 assets and rasidual values are assed annually and may vary depending on a number of factors. In re-assessing assgt Iiv8s, laclors such as technological innovation, producl life cydes and maintenance programmes are taken into account. Residual value assessmenls consider issues such as future market conditions, th& remalnlng Ilfe of the 8ssel and projected disposal values. Tangible fixed assels are slated al cost less depreciation. Depreciation is provided at the following annual rates on cost in Ofder to write off each asset les$ ils residual value over its expected useful lifé. Compuling Equipmenl 33% Furniture fixtur8 and fillings 25% Property 2Y. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offgred. Prepayments are valued at the am(wnl prepaid net of any trade discounts due. Creditors and provl$lon$ Creditors and provisions are Tecognised where the charity has a prosenl obligation resulting from a past event that will probably result in the Iran5fer of funds to a third party and the amount due to selue the obligation can be reliably measured or eslimaled. Creditors and provisions are normally reco9nised al Iheir 5elllement amounl after allowing for any trade discounts due. Investment properties Inv¢stMenl properties are measured at fair value al each pO[lIng date with changes in fair value recognised in 'net gains l (losses) on investrnents. in the SOFA. 21
KeyRing-Living Support Networks Year Ended 31$1 March 2024 Investmènts Investments are recognised initially al fair value which is nomialty the Iransaclion price excluding Iransaclion costs. Subsequently, they are measured al lair value with changes recognised in 'nel gains l (losses) on Inveslments, in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. other investments are measured al cost less impairmenl. Pensions The charity provides pensK)n arrarvJements lo its am0Yea$ via The Pension Trust defined contribution scheme. There are also a small number of employees who are ongoing members of the defined benefil schemes as a result of historical arrangements. The assets of the sch8mes are held separalely from those of the charitable company independently administered funds. The annual contributions paid lo both schemos are charged against income, in the year to which Ih8y relate. Costs are allocated to the General lund. Doflned benefit accounting has not been apled on the grounds of materiality. as allowed by FRS 102 para 3.16A. Pensions and other post-employmenl benefits. The cost of defin6d benefit pen5i0n plans and other post- employmenl benefits are determined using actuarial v8lualions. The acluarial valualion involve5 making assumption about discount rales, luture Salary increases, mortality rates and future pension increases. Due lo th8 ¢omplexily of Ihe valuation, the underlying assumption and the long term nature of Ihese plans, such estlmales are sublecl lo significanl uncertainly. In d8lemiining the appropriale discount rate, management consider the interest rates of corporale bonds in the respective currency with at least M rating, with gxlrapolaled maturities corresponding lo the expected duration ol the defined benefit obligation. The underlying bonds are further reviewed for qualily. and Ihose having excessive credil spreads are removed from population bonds on which the discount rale is based. on the basis that they do not represenl high quality bonds. The mortality rate Is bas6d on publlcly availablè tablès for the speolfic $tor. Future salary increases and pension increases are base(l on expected future inflation rates for Ihe respeclive s8clor. Furlher dalails aré given in note 19. Golng Concern The Charity's Financial Statements show a nel surplus of £206.715 for the year12023 - £15,346) and free reserves £978,47012023 - £838,153) as al the year end. The trusl8es have established the level of reserves {Ihat is thos8 funds that are freely available) that Ihe charitable company ought to hav8. Resèrves are needed lo pursue Ihe growth slralegy • cover at least three months equlvalenl cost of running the charitable company in a declsion to cease operallong protecl againsl po16nlial loss of exlsling contracts fund short term deficits on partially full Networks on subsidy contracts. As at thg year end. finaniaal slalemenls showed reserves of £5.679.872 (2023 - £5.481,6111, of which £4.602.245 {2023- £.4,591.822)was designaled. £99.157 {2023- £,51.6351 was restricted and £976,47012023 - £,838.1531 was unrestricted. Truste&s will conlinue lo monitor and ensure that SP8nding is in line with income in order lo maintain reserves to cover al least three monlhs &quivalent cost of running the charitable company. The review of for8casl cashflow for the 12 months from the date of approval of the financial statements, considered the relevant 8ss(Jmptions that underpin the forecast, the pipeline of new income and the steps that could be taken to reduce expenditure should this be necessary. Based on the information above, the Trustees have a reasonable expectation Ihal the charity has adequate resources lo continue in operation for the foreseeable future and will remain in surplus in future periods. Therefore, the trustees have adopted the going concern basis in preparing these account5. 22
KeyRing -Living Support Networks Year Ended 31$1 March 2024 Crltical ac¢ountlng estimates and judgements In the application of the charllablo company's accounting policies. the trustees are required to makejudgom&nls, eslSmates and assumptions about the carying amount of assets and liabilities thal are not readily apparent from other sources. The estimates and associated assumptions are based on hislorical experience and other faclors that are considored to be relevant. Actual results may dtrfer from these estimates. The company makes eslimatos and assumptions concerning the fuiure. The resulting accounting esllmales will, by definition. seldom equal the related actual results. The eslimales and assumptions that have a significant risk of causing a material adlustment to the carrying amounts of assets and liabilities within the next rinancial year are addressed b810w. {1) Useful economic lives of langible assets The annual depreclallon charge for lan9ible assets are sensitNe to changes in the estimated useful economi¢ livès and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary. The eslimales and underlying assumptions are revlewed on an ongolng basis. R8visions lo accounling estimates are recognised in th8 period in which (he eslimalg is revised where the revislon affects only that period, or in the pericrfl of the revision and fulur8 periods where the revision affecls both current and future periods. {iil Allocation of shared cosl beeen multiple activili6s Support costs relate lo those fvnclions Ihal assist the work of Ihe charity bul do not direcrfy relate to charitable activities. Support costs include back-office costs, premi$8s, payroll and governance costs which support the charity's programmes and aclivili&s. These costs have been allocated between cost of raising funds and expenditure on charitable aclivilies. the general support and governance costs are alloealed to aclivllles al different percentages, on the basis of staff tim8 r81aling lo each aclivily. Illi} Investment Investments are slated al markel value at lh8 balancè sh881 dale. Unrealised surpluses are credited lo a revaluation reseNe$ and shown in the Slalemenl of Financial Activities {SOFA). Realised gains and losses are calculaled based on the market value al which Ihe investsnents were recorded in Ihe financial statement at th& point of sale and are shown in the SOFA Cash and cash equlvalents Cash and cash equivalents Include cash in hand, deposits hekl at call wlth banks, other short-18rm liquid Inveslm8nls. 23
KeyRlng-Llvlng Support Networks Year Ended 3111 March 2024 2. Analysls of Incomè Charltable activities: Unrestrlcted Funds Restricted Funds Total 2024 Total 2023 Provision of Support Services Total grant & conlract In¢om8 3.944.447 3,944.447 167711 4,112.1 $8 4,112.158 3,832.192 3.832.192 167.711 Othor income Unrestrl¢ted Funds Restrlcted Funds Total 2024 Total 2023 Othèr in¢ome 13,399 13.399 40,968 40,968 13.399 tmonl Ineomo Unrostri¢t•d Funds Restrlcted Funds Total 2024 Total 2023 Commercial Leltings Inleresl R8ceivable 179,580 64,393 243,973 179.580 174.798 43,145 217,944 243,973 The charity let ils freehold offices lo a third paty on an arm's length basis lo generate rental income. The total grant & contract income and sundry income for 2023-24 was £4.369,530 of this, £4,201.819 related lo unrestricled funds and £167,711 related lo restricted fund. 3. Allocation of Cost Keyring Ini118lly idenlifies the $15 of its support funclions by collecling Ihese in Certain cosl centres. il Ihon idenlifigs which of these relate lo the governance function and Ihe remaining costs are allocated according lo how costs are incurred or apportioned as appropriate. refer to the lable below for the basis of apporlionmenl and analysis of these costs. 24
KeyRlng -Living Support Notworks Year Ended 315t March 2024 Salaries & Deprecialion Property Staff Costs Costs Costs Other Total 2024 Total 2023 Costs Cost of gèneratlng Funds Support Costs Total Cost of Generating Funds 200.921 200 921 167 2.706 31,109 234,903 234 903 230 075 167 230 075 Charltabla Expenditure Operation of KeyRing Networks 2,674.481 83,809 148,425 2,906,715 2,888,290 Support Costs Cost of Carrylng out Charitable Activities 511.348 2.843 23,003 396,912 874,463 3,185,829 2,843 106,812 545.337 3,840,820 3,762,753 Governance Cost8: Auditors remuneration in relalion to audlt services 9,600 9.600 12,610 Support Costs Total Governance Cosl 30.079 334 1.353 45.725 77.492 70.319 334 Total Cost 3 416.829 110,871 631,771 4 162.815 4 075,757 Total expenditure of £4,162,815 for 2023-24 consisled of £4,042.626 unreslricled funds, and £120.189 reslrlcled funds. 4. Analysls of staff costs, and the cost of key management personnel 2024 2023 Salaries and Wages National Insuranco Costs Pension Cosls 2.968.645 236,372 2,945,649 244,781 3.292,114 124,715 3.416.829 3,278,653 81,527 Temporary agency staff cost Total 3 360,180 Pension costs are allocated lo activities in Proporti to the related staffing costs incurred and are wholly charged to unrestricted funds. The total number of employees whose remuneration exceeded £60,000 was- 2024 2023 £60,001- £70,000 £70,001- £80,000 £80,001- £90.000 The charlty Iruslees were not paid or received any other benefits from employment in the year {2023: £nil) other than the reimbursemenl of travel costs during the year of £44 (2023:£130).No Chaiity trustee receNed payment for professional or other services supplied lo the charity {2023: £nil). 25
KeyRlng -Llvlng Support Networks Year Ended 31" March 2024 The Key management per80nnel of the charily comprise of the trustees. the Chiaf Executive officer, Research and Innovallon Director. and Diroctor of Resources. The total employe6 benefits including 8mploy6r national insurance and employer pension of the key management personnel were £200.565 (2023: £196.981). The remuneration of the high8St paid member of this team was £74.5 (2023.. £76,538). S. Staff numbèrs The average monthly headcounl was 147 staff in 2023124 and the average monthly number of full-lime equivalent employees (including casual and part-time stsff) during the year was as follows: 2024 Number 106 15 121 2023 Numb8r 104 15 119 Provlslon of support sèrvices Adminislralive slaff 6. Ralated party transactlons There were no related party transaction in the year 2023-24 7. Corporatlon Taxatlon Tho Charity is exempl from tax on income and gains falling within section $05 of the laxes or section 252 of the Taxallon ol Chargeabl8 Gains Act 1992 to the exlenl that these are applied lo its charitable objects. 8. Tanglble Flxad Asset Loasèhold 8ulldlngs Total Cost As at 1 April 2023 167,212 167,212 As al 31st March 2024 167,212 167,212 Depreclatlon: As at 1 April 2023 Charge for the year Disposals As at 31sl March 2024 31,286 3.344 31,286 3,344 34.630 Net Book Value As at 31st March 2024 132,582 135 926 132,582 135 926 As at 31st March 2023 26
KeyRing-Living Support Network5 Year Ended 31" March 2024 9. Investment Property The charity owns a freehold property in Corsham Streel London which is let on an ams. length basls to a thlrd party in August 2015 for a period of 10 yeais. This property was valued by Slfellons on an open market basis in March 2022. 2024 2023 Investments Fair Value as al 1st April 2023 2.900,000 2.900,000 Fair Value as at 31 st Mar 2024 2,900,000 2,900 000 10. Debtors falllng due withln one year 2024 2023 Trade Debtors 421,763 1.672 154,943 578,378 218.486 2,153 429,282 649,921 Other Deblors Prepayments and accrued income 11. Current Asset Investments The investment shown below include an investment in equity bonds managed by M&G 5nvestments. Inveslments 2024 2023 Opening balanc6 Add.. Acquisition al cost Unrealised nel gainsl{1088) 958,117 497,952 500.000 39,835 958,117 8,453 949,664 12. Cash at bank and in hand Cash & Bank Balance 2024 2023 Unity Trust Bank-ldeal Fixed Teim Deposit Accour)t 337.520 1,123,249 1 460 769 552,352 548,670 1101022 27
KoyRing -Llvlng Support Networks Year Ended 3131 March 2024 13. Creditors: amount falling due wllhin one year 2024 2023 Trade Credilors Other Credllors and accruals Deposit on Corsham Sl Office Pènsion Costs Deferred Income (Refer Note 14 below) Taxation and social security C051s 38.780 87,160 41,250 23,244 151,085 {7,521 } 93,151 41.250 17,583 119,323 1412} Closing Balance at 31st Mar 24 341.519 263.375 The deposit on Corsham street ralalès to the lease on that propety and becomes repayable tjn termlnalion. The property is held by the lenanl, RNR Property ODS Limil8d, under a 10 year full repairing and insuring lease from 30 July 2015 expiring 29 July 2025 wlh a break clause in tho fifth year {20201. The Rent was reviewed In Dec 2022 extending the lease for July 2035.The rooms are sublet as serviced offices lo various local buslnesses with shared use of communal facilities including Wcs and the t8a room cjn the third floor. 14. Doferred income 2024 2023 Unrestrl¢tèd Reslrlctod Fund$ Funds Total Deferred income as al 1 sl April Released In Year: Supporting People Grant received in advance 119,323 119,323 135,710 {119.323) (119,3231 (135.7101 Doferfed Tn Year Supporting People Grant received in advance 51,928 99,157 151,085 119.323 Deferred Income as at 31st Mar¢h 51.928 99,157 151,085 119,323 15. Oporatlng Lease Commltmont 2024 2023 Land & Bullding Land & Buildlng Within one year 5,548 6,122 Total 5,548 6,122 KeyRing holds a number of licen$ for properties which have gone past Iheir initial committed perlod and are canc6llable at 28 days or one month notice. 28
KeyRing-Living Supp¢rt Networks Year Ended 31°, March 2024 16, Fund Analysls Balance at 01.04.2Q23 Incomo Expenditure Intèr Galnl(Loss) Balance at fund 31.03.2024 Transfers Dèslgnated Fund IT Equipment & Accounting Software 187.780 22,220 210,000 Pension Fund 40,000 40,000 Employment Project 70,000 70.000 Innovation Funds 31x1,000 300,000 Currenl Asset Inveslmenl 958,118 (8,453) 949,663 Investment Properly 2.900,000 2,900,000 Fixed Assets 135926 3,344 132,582 4,591824 3.344 8,453 4 602 245 Balance al 01.04.2023 Incomo Expondlture Inter fund Transfers Galnl{Lo$sl Balanc8 at 31.03.2024 Rostrlcted funds Sarah Lees 43,032 2.259 40.773 Bo¢¢ia Sports England 14,770 3.385 11,385 Working for justice 5,000 16,097 11.097 10,000 Ancora Proje¢l Ancora Household Suppori 43,635 81,715 93.351 31,999 3,OQO 12,097 10.097 51,635 167.711 120,189 Unrestrl¢t¢d Funds Balance at 01.04.2023 Income Expondlture Inter fund Transfers Galnl{Loss) Balance at 31.03.2024 Goneral Funds 838.153 4,201.819 4.039.282 {22.220} 978,470 Total funds 5481,611 4 369 530 4,156,127 S,679,B72 29
KeyRlng-Living Support NetWOTks Year Ended 31 Mar¢h 2024 Description, natur8 and purpose of Designated Fund IT Equipment= Funds to upgrade IT equipment including buying some new Pcs Pension Fund . Funds set aside to pay for any pension liability Employment Project .' Funds sel aswje for KeyRing Employinenl project. Innovation Funds -.Funds set aside for Innovative activities wilhin ieams Invèstment Property- Valu8 held in the Charity's investment property in Corsham slreet, Fixed Asset.. Trustees agree to Iransfer Fixed assets from general funds lo designated fund Descriptlon, nature and purpose of Rostrlcted Fund All funds are held as liquky resources. 1.The Sarah Lees Fund is a hardship grant to help Ancora members in hardship. 2.Boccia Sports England is a grant Io enable more KeyRing memb6rs play the Boccia game. KeyRing Boccla group has helped players reduced social isolalton and improved th8ir lifeslyles, confidence. menlal wellbeing. and increased physical activity. Particlpanls also developed liltrskills as they took ownershlp of their club. 3. Working for Justice IWfJ)Group Meetings- is a service user reference gr(MJP of people with learning disabilities who have been in the Criminal justi¢e system as offenders or suspects. 4. Ancora Project provides a free support service for residents of Oldham exp8ri6neing crisis. Ils aims ar6 10 li) Provide Immediate help and ongoing support to the people of Oldham who are experiencing crisis. Illl Identify people who ar8 al risk of experiencing hardshlp and offer support so they are better able lo plan for the fijlure. liiil idenlily the underlying cause of hardship, tackling these Issues and sharing learning at local & national levals {iv) encouragé and facilitate peer support so that those experlencing hardship have a stronger, more collective voice. 5. Ancora Household support- is a DWP fund to Oldham Council. To be used primarily to support Ihe most vulnerable with food, energy and water bills bul also clothing, lufnilure & while goods if there was a crisis. De$¢rlptlon. naturè and purposè of Unrestrlcled Fund The unreslricled funds of thè charity compriso Ihg unexpended balances of income which are nol subject lo specif conditions as to how Ihey may be used. 30
KeyRing-Llvlng Support Networks Year Ended 31$t March 2024 17. Analysls of net Assèts bètwa•n funds Unrèstrlcled Funds Restrl¢ted Funds Total 2024 Designated General Fixed Assets Inveslment Gurrenl Assets Other Liabililigs 132.582 2,900.000 1.569.663 132,582 2,900,000 2.988.809 1341,519> 5,679,872 1.319.989 (341,5191 978,470 99,157 4.602.24S 99,157 Unrestricted Funds Restrlctsd Funds Total 2023 Deslgnated Gonoral Fixed Assets Investment Current Asse18 Other Llabililies 135.926 2,900.000 1,555,898 135,926 2,900,000 2,709,060 1263,375> 5,481,611 1.101,527 (263,3751 838,152 51,635 4,591,824 51,635 18. Penslons The Pansions Trust- The growth Plan The charity participates in the scheme. a multi-employer scheme which provid8s benefits to Some 1,300 non- associated employers. The scheme is a d8lined contribution scheme In the UK, bul Ihere are som@ employees, vtho under historical arfangements, are part of a defined benefit scheme whlch is no longer available lo new employees. The defined benefit scheme is in deficit and a recovery plan Is in place under which employers ar8 making additional Contribution to fund the delicil. The Charity's rocovery plan contribution in 22123 will b8 under £100 pgr annum. Local Governmènt Pension Schème The eharity had one member ol staffwho 1$ a member ofthe Local Governmenl Penslon Scheme. Utkder this scheme, a cessation debt of around £10,000 will be Iriggered al the end of the contract or wh8n Ihe last active rnamber leaves if earlier. 19. Share Capital The charity Is consliluled as a company limiled by guarantee and does not have a share capital divided by shares 20. Ultlmate Controlllng Party The charity was under the control of Board of Trustees throughout the year 31