Kf.Y%"I"ONE I)LVLLOPMEN-I"'I'RU,S'I' rrNANCIAL 81'A"fEML:,N'fs FOR TIIL? YLAR FNDED 31 s"r MARCk12024 CON"ILNTS AND CI.IARITY INfoiiMATtON CON'L'EN-FS I'rustecs Ileporl Indep¢iideiit Examillers Report Statement o'f FiLiaJ'icLal Activities Balance Sheet Stat¢inent of Cash flow Nolc5 lo tli¢ financial ,%tateincnts 9- 19 I'RUS'fEFS Jei'emy Stone (Chaii.) Bi'cnda Canhain Charles Watt Ryaii Windsor Clive Wadham-sinitli ob Pugh iona Walker (appoiiilcd Septeinbcr 2023) m'lYn Broinl¢y (appoiiitcd Septembci 2023) Jennifer140llis (appoiiited Januai'y 2024) IILCylS'I'F,RBD 01,TlCb: Abbey Ncighbourhood Cenlye l-xetcr Way Tlietford Norfollc IP24 IEI;, CFIALiI'fY Rf,GIS'L'RATION NUMBER 1093162 COMI)ANY IIF.GIS'I"ERED NUMBER 04346470 INI)EPENDI=NT EXAMINEIIS lan Sliipley fccA ror and oil bcliaif of- 14'entis & Co l.l.P Chdlteird ACcOLlntS 115c Milton Iload Cainbridge C134 IXL BANICBK,8 HSBC Bank Pl¢ 18 1,oiidoll Sti'cet Noi'wich NR2 ILG
ICBYSTONL DLIVT.'LOPMLN'r 'i'iius'r I,'INANCIAL SI'A'I'L7MfN'rs roR V'EIL7 YI,:AR LNDf,D J Is'r MARCFI 2024 TKUSTbLS liPolIT 'Ihc DO.d ol I'rustces, who al'e also Ihe directors for the purposes of company law, pre.sent their Teport and the fii)anci¢tl statements ofthc chariiy for the yeai. ended 31 March 2024. The fiiiancial 5tateinents have bccii prepared in accordance with the accountii)g policies set out in I'iotes to tli¢ accounls aiid comply with tlie charily's ¢Jovei'ning document, ihe Ch1t]cS Act 201 E and Companies Act2006 and Accouiiting and Ilcpoiting by Cliai'ities.. Slalemeiit of Ilecommeiided Practice applicablc to ch¢li'ities prcparing tlieir dccounls in a¢cordaiice willi the fiiiiancial Reporting stand'd applicable iii. the UK and Ilepublic of. Ireland published in Octobei. 2019 (efff¢ctive l January 2019) Sincc the ChaLlty qualifies as small under scction 3 83, ttLe strategic icpoit required of medium and large compmies uiider The Coinpanies Act 2006 (Strategic li¢poit and Direcloi s Report) Regulalioiis 2013 is not requii'ed. ObjectlVLS, Strxtogles, Aims and ActivitlC8 Iccystone Development TrLlSt is a Com muiiily Ilcsource aiid Support Organisatioii comtnittcd to Iinpi-oviiig the quality ofiifc and opporiuiiitics For peoplL who live, sludy and work in the'l'hetford aiid SUiToundiiig &i-Las, through sustainable, cominuiiily led i'egencration. A5 a Developincnt Trust, l£eyston¢ aims to build coininunily capital in it8 ttrca: eiiipoweriiig individuals, groups and cuinmunities to tackle ii¢¢ds and issues by ci'eating tlieir own 501iJtions, serviccs, organisation8 or eiitetprise5, lii Ol-der to achieve this, the Trust seelcs to identify needs through rcsciirch, cunsultation discus810n with paitners, uther Ol-gdnisations and local residents. Iccystonc provides building spaLe, professional cxiicrtise and acts as ali utnbi'cll2É or rLsource body lo enable tliestt individudls &iid groups to deliver activities diid service8 needed. Dellvery of our Objectives, Strategic AAMS and Activitics is reviewed by thc Bo&rd of Trustee5 and Scnior MaLiag¢tn¢nl as parl of our s¢anding &Eenda at ea¢li full board tnecting throughout Ihc ye&i', and underpiiis all act.ivilies considcred &iid undei-lalcen by I'eain nieiT]bei's of Keystuiie on a daily basis. 'I'he Oi-gaiiisatioii's direction, whut il stands for and ils ¢volving joui-ney io delivei. Iliis gtldtcgy is so slroiig and focLised that ils iinpa¢t on cnabling significant coinmuii ily initiatives lias boon Irll and ¢.rnbraccd greatly siiicc thc ciid of 2019 when our Sts"alLgic Dircction was coinmunicat¢d mucli widcr. 'rhese als, and tlie worlc undcrpinniiig tliein, demon,%th7tc thc Public Beiiefit ds I'equii'ed by thc Cliarilies Act 2006. 'fhc 'Frustecs conlirm that ihey have Fiad duc rcgard to Charity Conimission guidaiice on public bcnefit. l)urliig 2023124 Kcystone's operations fell iiilo Iwo broad categiirics: The manageme11t of ils owned properties t'o PLoduce income for the provision of SOLial enterISt activities, 'I'he provision of help and support to our Ioc<tl conilnunity across ci broad range of Ctivitics and pi'ojects. KcystonLI Properties "I'hese &i'e split int'o two cat'egoriGs. I'hose w¢ own aiid Ihose we lease, In all cases from tliem we provid¢ serviLcs and assistaiicc to a bj'oad range of org'dllisations and iiidividuals. Freehold The Enterprise r,actoiy St Johii's Commuiiity Centre Mildenhall Abbey Neiglibourl)ood Centre ljcascliold Rivei'sdale ManagLd by: The ljraiidon Ceiitre
ICEYS'I'ONL DEVI,'LOPMb.Ki. rRus'i" PA(if, 2 FINANCIAL S'I'AI'FMEN'I'S I",OR TI.IE YFAR ENDf,D 31 s'r MAIICII 2024 "rRUS'I'EF,s RfpoRI" The future Following tlie salc of the liinovaLioii Centre in 2023, thc F4nterpTise l actoi'y will sell in 2024. rroin thc 'Funds received fi-orn thc Innovalion Cenlre, £830,000 lids beeii iiiv¢stcd iii varLOUS slioit <ind loiiger-leiTr fixed rats liigli inter¢st accounts. The cui'rent funds lield and Ilie additional funds fyoni the gale of the Llnt¢iyrise Factory will bc used for iiivcslniLnt and direct gi'allts to the people and cliaricies of 1'1ielford, Mildenhdll and 14randon. undralsiiig Keystone Developnient 'l'L'usi dues not opeiily fui)draise or solicit donittions 'froiii the public. Finaiicial result I'he board of Kcyslone DevclopiT]ent"frust are i-cporting a d¢fi'cit of £276,120 (2023.. £249,250). Th¢ de.ficit for 2023124 was made up of unrestTLCted funds only (sainc for 2022123). ResciTe5 policy Tlie rcserves poIiLy is reviewcd aiinually. lceystoiie's balance sheet as at 31 March 2024 shows rcscTVCS totalliiig £2,406,4 I3, (2023.. £2,682,53.3) oFwhich £151,979 are restricted incoine fuiids (2023: £137,651), not tied up in rixed ass¢ls. l.hc cun-ciit policy is to bold six inontlis operating costs in reseNes. flee ios¢ives C.11]t.1Y std clt £844 and dosignated funds, as llgreed by Tnistees can be seeii below,- I'hc I'i'ustces remain committed to a policy that the ch&rity hold unrL5I'ricte(I fuiids (exeluding thosL lunds rcprcscntcd by fixed aSSLts (sufticienl to cover): Coiitiiigeiicy fund to covcr 6 months. organisatioiiiil ruiinillg costslincoille wa8 tu ccase. (cxcluding the L?nlcrpi'ise Iliicioiy) Coiitiiigency lurid to covct 6 monl'hs of I'unning costs of tlic Entei'pi-isc Fdctory 136,00 45,000 'rotul Unrcstricted Funds (Coiitingcncy) £181,000 Designated funds have been established agreed by the Board of Truslees al. thL following levcls: Redundancy-_ potent'ial rcduiidaiicy paymenls cost if the charity wcre to be wound up 14,000 Properly slnlciiig fund to meet thc aiinual repaii. aiid maiiitcnance costs of all bijildiiigs cxeluding ihe F.nlcrpris¢ factory I ntcrprise Factory contingency fuiid to covci. a further 6 months running cosls of the pi'operLy until a sal¢ been coinpleled Jnterprise Faetory l)roperty Rcpairslupgrading F.xpenditure required witliin the next 12 Inontlis Investin¢nt fiund for longei- teiin lioldings - to generate carn¢d incotne (bank interestlpropcrly Rental) to support Coinmunity c'hai'ilable Lxpcnditure 22,500 45,000 25,500 602,000 'I'olal Designated Fund £709,000 Total Reserves Policy Designated £890,1)00 This rescrvcs poliey and assotiatcd perforrnai)ce to maintaiii thcse levels is revlLiwed by t'he Iloard of Trustees oji an anuual bas1S. As at 31 Mai'cli 2024, the charity h£id Fire i'csei'ves of £844 aftci. the tlbovc wei'c degigiiatLd fYoiTL unie811'icted fuiids £890,844 £104,680 At 31 July 2024 Cush at B¢uiII is
I<EYS"FONF DEVELOPMfNT I'IIU8T
PA(iE 3
I,'TNANCIAL STA TLMfN1'S I,'OR TFILJ YIAII I-'NDf,l) 31.%'I' MARV.14 2024
'L'RUST'EES REPOIIT
Goiiig conccrii
F,'ull Inanagcme11t accounts, inclijdiiig a budget to &ctual cotnpai'isoLI, arc produced rnoiitlily and aTe used byihe tear
to m&lcc opei'ational aiid fLI)ancial dttcisioiis.
Thc Irustees liave reviewed the Lu11-ent financial position. lThey have a good expcLtation thatthe cliaiiiy will be able
to meet its obligatlOLlS IL) a good aiid timcly manncr for tlie foi'eseeable futui'e. I'lius, tliey coiitiiiue to adopt, the
going coneerll basis of accouL]ting iii pi'cpai'ing the fiiiancial st&tctfLLnts.
Priiicipal rislis and uneertaiiities
'I'lie Keystone Boai-d l)as ulliinate i-esponsibility fDr managemciit of rislc <lCI'OS5 I'he 'l'rust. 'I'lie Iloai'd ineets
thi'oughoiit the Ye to revicw Ihc potcn(i(Il risks across illl aspects of ihc org72stioll lo dctcrmiiic the piT)b&bilily
and impact of each significant i-islc.
l*inancial rislc, llTLe1Y generating suffLClClIt income to ineet our goals, obj¢ctive5 and cominittcd costs is always an
arca oFhigli ris14 scrutiny and planniiig. "fhe decision in 2019 to convert. hi<vli value pi'opei-ty assets into cash, wilh
the sale of one siich assct now h£lS giveii ihe Boai'd the comfoit of loiig-tei-ln fLnancial SLlStainability and a wider
Ititch of oui. aiins. Noted in our Rcscrves Policy above is the aorced designation of fiEnds that providc a financial
contingency for both known and polenLi&l cxpenditur¢, thus mitia'aling the impilct of Ios5 OF income.
Rislc assessments across all propei'(ies arc urLdertakeLI tkn'oughout the year, with the support of "Worknest"
trusted liealthy and safety management oi'giinisat'ion. 11]is lielps l£eystone ensure compliance and inform plaiined
prcvcntative inaintenancc.
F'acc lo face tt-aiiiing in IhL followiiig ar¢as'. SaFeguarding) First Aid and I. irc Safely 1$ pi'ovided to all st(iff"to ensui'e
Iliey al'e aw-c of and ablL Lo iiiaiiagL risks during their worlcing day.
Othcr trdining such as GDPII and data Iiandling, Inanual hiindling, display screen equipinenL loiie workiiig etc air
also provided thi'ougli 'IlldSCO"
. a trusted training. providor.
Sl'ructur4 govcrnancc maiiagemont
Con5titutioii
Tlie charity is constituted uiid¢r a T'rust deed and is & registei'ed charity nuinber 1093162.
Mcthod of appointrneiit or ¢lcction of Trustees
'riie man¢igcinent of the Chality is the responsibility ofthe'fruslces who are clccted and co-opt¢d under the Icrins of
Ihc Trust deed.
Policies adopted for th¢ induction aiid training of 'frustees
There arc ¢unrntly iiiiie 'frustees. Trustee5 .¢ drawn fL'Oill a variety of bacl<grounds ¢iiid sl
I<EYSTONC DEVELOPMENTTrUST PAQE4 FINANCIAL STATBMENTS IIOR THE YEAR FNDED 3 1ST MAEiCH 2024 TRUSTEES REPORT Or£Anl8atlonal structure and decision mal(Iiig Tho Board of Tw¥l¢es administei'5 the Chaiity. A Chief Operating oific¢i' ts appoiiited by the Tru3t¢os lo fftanage and d¢v¢lop th¢ day to day OPEratlon2 of Ihe Ch&rlty. To enable ¢fficleNt iThanagemeDt developtnertt of the or8ani5aUoTr to the Chi$f Ope4BtlrLg OEFioei' has delegated wlliority, wlthln terms of dtlegation approved by the trllgle¢s, for0p¢ltIOnal matter5 including fre, employmeNI attd opci'&tions. Rlsk manageThI Th¢ thang¢8 ill operalitsnal 8iid financial piwedui'es over the PBal year together With Ilie sale of the Innovatloi) Cellti'e has &ub5fontially reducol the ongollig financial arKI opei?tlonal rlsk8 lo which Ilie Chartty ig exposed. Tru8t¢C5 dr¢ fully consclous of the Sponsibl111eB thi8 area, Trustees, respDnslblllties glatexllent The Trustees (who ara alsa dlrectOf3 of K¢ystone Dev¢lopm¢nl Trust for th¢ pu0eS of ¢oznpany law) are respDll$ible for ptep81'uig th¢ Tnjstw, report and Ilie finaooial syaiemontg In acCdanC8 wlth applioabla law And Unitsd Iclngdom Acuountllig Stsndards Iunited Iclngdom Generally Accepted ACCO11118 Pra¢ti¢e). Company law requires the TNstèes to Pre[¢ finmeial siatemertts for aach fingncial y¥ar. Undgr company l&wthe TTLL8te8smust notepprove th¢ fifian¢ial Statements unless theyair satisfled tyhatlhey give a Mieakd fairview ofthe stateof affalrs of the charitabla copai)Y and of the incomlng resour£es and application Csf r¢50Ltrce8, includlngthe inrome And LxpendituR, of the cliAI'ltablè company for thal perlDd. In ptepaiing these finan¢lLI ilatem¢Nt8, th¢ Trustces al'e reqllli'od to: sele¢l 8ultsbl$ accounting policies and then apply IlLem cottslstettdy. bs¢rv¢ the metKods and principles in lh¢ Charititss SOEiP,' make Judgtnei)ts and accouMtin8 85timates that reasottable and pnjdent,. prepare the financial stat¢monts on the going ¢oncem basis Ltnl¢s% It Is inappropriaie to pre3LEin¢ that Itie charitable company will contiuue in op4¥&tion. Th¢ frujlees arc Te5pon8ibl¢ for keeping adequate a£counting reeords that are sufficient ko show 4nd explAin the ¢hartlable companys transactions &ryd disolose with rea50AAble accu1.Y at &tty ¢im¢ th& finanoial posiiion of th¢ charitable coParkY and gnabl¢ thenL to ensur¢th&t th¢ finanGiHI staterSts ¢omply with th¢ Conpanlas Act 2006. Tliey are r¢sponsible for safeguiirdillg the 858ets oEtke charitable comparty and henct for taktng reasonable sieps fDr the prevention ond detection of fraud and otheT ijTegulariti¢s, This report was ¥pproved by tlie Trustees, OU and slgned on thew behalf by: Charles Watt
KEY,£I'ONE DF.vr.I.opfvtE,N'r "I'iiusi, FINANCIAL S I'A'LLMENTS FOR TIqL YLIAII ENDEq D 3 IS'I. MAIICII 2024 tNDI,=PTr.NDEN'I' LXAMINEIR'S IILIPOR'f 'I'o 'i"EIF 'I'llUS'I'F,l=, s or KEYSI'ONE .DEVI,'I.,I)PMLN'f 'i'RIJ8'r ("rI4L Co)ANY,} I report tv thc cliai'ily trustees on my ¢Xninti0n of tho &¢counts of the compally for the y¢dl' elided 31 sl March 2024. RESP()NSJBIt,ITIIS AND BA818 01,, REPORI. As ihe ¢liaiity's ti'ustees of the Lompany (aiid also ils directors "for the piirposes of coinp(Iny l(Iw) you arc i'Lspon5ible ror the prepatIon ofihe accoiints iii accordancL wil'h thc requii'einenty of die LoLTIP<iLiies Act 2006 ('tli¢ Act,). IIaviiig salisficd myself tlidi tlie ¢iccount5 of dic company Eu'c nol requii'ed to bc audiled uiid¢r Pait 16 of tlic 2006 Act and ar¢ cligible for iDdep¢ndent exaniination, I report in respect of my exaniiii<ilioii of youi. cliai'ity 's accouiits as carried oul under scclioii 145 of the Cliai-ilics Act 2011 ('tlie 201 l Act). In carryiiig out my cxainination I have Followed the dircction5 given by the Chai'ity Coinmission undcr section 145(5)(b) of Ihe 201 l Act. INDEPI-NDF,NT EXAMINLR'S SI'AI'EME, N'I. Since the cotnpdiiy's gros,% income exccedcd £250,000 yOLir examinor must be a memb¥r of a body listed in Section 145 01 the 201 l Act. I confim) that I am qualitied to undertake tlie examiiialion because I am a member OF "I"he Association of Chari'ered Certificd Accountants which is oiic of the li5tcd bodi¢s. I liavL Coliiplcied my exarnin(tlioii. I confii'in t'hat no indtters have coinc to my attont'ion in coniiection with I'h CX¢iinination giving ine cause to bLliove'. accuunliiig rccords were not Iiept lli rcspect of the compic ny as required by secl'ion 3 X6 of Ih¢ 2006 Acl. or 2. I'he accounts do nol accord with those records. oi. thc accouiits do not comply with Ihe 11cLounting requiremtsiits of section 396 of Ihe 2006 Acl other than any requll-emcnl thal. tlie aLcountg give a 't'i'ue and .fÉiir' vicw which 18 nol a inaltLr considered as pa]'l of (In iNdcpcndLnt X£iniinallon' or 4, the accouDts have not been prepared lli a¢corddliCC wilh ihe mcthods dnd piinciplcs ofthc Siatemenl or RecoLnincndcd Pr&clice fur COunting diid reporting by charities (applicable tt) LharitiLs preparing their own accounts in aLcoi'dai)cc witli thL' ElindiiLial 'Repoi'liiig 8taiidai'd applicable in tl)L UK lid Republic of IrGland (IIIIS 102)). IAN SIIII)l.EY fccA 011 AND ON13LHAI,F ()F'. PIILN'I'IS & LO LLI) CI-IARTr,iirI) ACCOUN'I'AN'I'S, & tN])I"I)I';NI)I=, NI. F,XAMINP.R,8 115c Milton Ko&d Calbridg (;B4 IXL
rn In tt¢ CN ro r rn oo mr rn rq In p4 In tn tsJ&,u * z
KLYS'I'ONE I)IIVL?LOPMI.'WI"I'IIIJS'I' PA(TI2 7 FINANCIAI, ¥I'A'I,L7mN7.s I."OR TIII4 YI:.AII13Nt)i71) 3 IS'I, IrfAEiCI12024 11A1,ANCI:. SIIFI.TT'I' 2024 2023 Notes IrixBD ASSETS I'&nglble fixed pssets lthv¢stinont$ Ii)ve8(nienl pmk).uY 'I'OTAI, i.'Ixr,D ASSB'rs 12 14 13 I,Q19,043 1,004,021 25Q 350,QOD 1,354,271 350,000 1,369,043 CURI<ENI' ASSF.'rs Stocl Debtoi's Ca511 al banlc alld in hand SQD 60.724 1.067,196 1,128,420 SCIO 65,163 1,376,Q32 1,441,695 'I'o'rAL CLIRIIENI. ASSI='rs CKI!l)I'roRs'. 8inounts falSlng duc wiihin ono ye&r 17 174.523) (87,622) Nls r CilliKEIff ASSE'rs 1,053,897 1,354,073 CRI.'Dl'fofts.' &DIDvnts frdlling duo aftoi. Mo1 thall 01 y¢M' 'I'Ol'AI. Nf1' A&qll'l'S 17 (16,527) 2,406,413 2,682,533 'I'I.II". FIJNDS oi'.'ri.ili CHAEiI'rY Unrcstricled [tts D¢signatcd fiiiids 544 890,000 53.405 1,137,200 890,844 Rcsiri¢(ed 1ndS Rcstritttd I,'ixed Assct Fund 151.979 1.363,590 137,651 1,354,271 1,515.569 2,406,413 1,491,922 2,682,533 'I'OTAI. CIIARI'I'Y fuNDS 'I'lic trL[StC conslder tliat the charilable coimpany Is cntiiled to exeinptioii froin thG I'equii'emcnt Iiave an &udil undcy tlic pjovlslons of S¢¢tlon 47711 l Dfihe Companics Act 2006. Mott)bers hayc not requli'cd tlie Ghurlb[¢ ¢otnpury under Sectlon 476 of thB Comp#nlos Act 2006, to obtain an aud1( for tlio ycar elided 3 ISL Mai'ch 2024. 'lThe dirLclors atknowledgc their re$pollsibiltll¢s foi. cnsuring tliat the ¢l)arlt2ble company keeps accounting e01'd8 whi¢h comply wlth Sttctiun 386 Lnd 387 of th¢ Componi¢s Act 2006 and foi, preparing financilll staitments which givc a true a)Id f&ir vl¢iv of Ihc 5E&tc of &ffairs of the chaEltable coittpany as at J 1st mh 2024 and ofits deficit for thc yc31' then endcd in a¢coi'dance wilh tli¢ rcquii'etNei)ts DfsccEion 396 and whiryh othoThviso coimply with tli8 1rqulrcmcn oftlic Act r¢lati2 Lo Iho financial $iaiein¢nts at fdl, lls &ppIic2blo to Ihc churiiablc coinpany. 'lThc financial statnnts, which liavc becn prcparcd ill nOi.dan witi tho 9p¢ci&I pruvi$ions r¢l*ling to ¢OlTLpani¢s suLIjcci Lct thc stnall conip8L)1¢5 r¢giin¢ wiil)in Pt 15 of d)c Conipaiiies A¢i2006, w¢ro approvL,d by the board 011 02È signed on I bcftalf. AKI.ES WAT'F 'rRus'riiii 'I'ho iiolos on pagcs 9 tro 19 forin parl of Ilicsc f1118iicial 9181¢1ttcn(S.
I<E=,Ys'r()Nl:' l)fvLLOPMI-.NT TIIUSI" I-, LNANCIAL, ,%'I'A'I'EMf.N'l'S' POII "I'I IL YI=,AII ENDI.:, D 318.1. MAIIC14 2024 S'l'AI'fMEN'I' 01-, C'ASFI FI.OWS 2024 2023 Nol'cs CASII FLOWS F", ROM OPLRA TING ACTIVITIFS Nct casli used in op¢i'atiiig activities 20 (295,755) (543,467) LASII fLOWS FROM INVEsfLNG ACTIVI'I'IF,S Iiivestinent incoine Purcliase oftaiigible fixcd setS Proceeds on disposal of taiigible fixed assets NfT CASI.I PROVIDEDI(U8ED) BY INVFSTtNG ACTlVI'fiLS 28.73 8 (43,J19) 1.500 17,959 (17,188) 1,800,000 (13,0111) 1,800.771 CI.IANGr rN CASEI AND CASII EQIJIV ALLN"FS IN T'l.Ir YFAII (308,836) 1,257,304 CA81 I AND CASFI EQUIVALENTS A'f I'I-IE BL?GIKNENG or i"E.IE YEAIi CASH AND CA%FI F.QUIVAI.F.NI'S AT I'HE END 01: 'riir YEAR 1,376,032 118,728 1,067,196 1,3 76,032 'I"lic notes on patscs 9 t'o 19 foi'iT] Part ofihe5e fin&iicial stateincnts.
I<EYS'I'ONL DF,VL.;LC)PMLIN"I' "I'IIU,8T PACIE 9 FINANCIAI. .8'1'A'fcMfN"L"s roil I'FIE YFAR ENDLD 31 S'I. MAIICE12024 N01'FS TO "Iiir. I,'INANCIAI. ST A"ri.,:MLN'I'% ACCOUN'fiNG POLILILS BASJS OF PIIEPARA"I'EON OF fiNANCIAL STA"I"LMENI'S I'lie financial stat¢meLlts h&ve been Prepared in accoi'dance with the Cliarities SUJlP (riis 102) - Accounting and Ileportii)g by ChaL'itIC8'. statement of Recoinnicnded Practicc applicable to chai'iti¢s prepariiig their accouiils in (Col.danCe witli thc I", iiiancial Rcporting Staiid<ird applicable in tlic lJl< and Jlcpublic of Ircland (I,'RS 102) {etfLclive I sl Jaiiuary 2019, Ilie fiiiancial Ileporiiiig Stdndard applicable in the UK aiid Republic of, II'cl&Lid (FLI8 102) and ihe Lompanies Act 2006, l£eystone Dcvelopnient 'fNsl in¢ets thc defiiiitioii of a public benefit entity under fRS 102. Assets and liabilities are initially i'c¢ogiiised ai historical cost or trans&ct'ioii valuc unless ulhcrwise stated iii the relevaiit &ccounling policy. (JOING CONCERN 'Fhe trustees have considei'cd the financial positLOlI of the chal'ity including the foi'ecasts aiid project'ions for 2024125 wliich show Ihat the cEL'1ty can continue to operate. I",unds have becn invcslcd &nd will continue to be moniioi'ed over the comlng months, The trustees Iiav¢ a i'easoniible expectdtLon Ilial Lhe chdriiy has adequdte resourGos to continue iii opci'ational existence foi. tlic foreseeable future, 'fhu8, tli¢y contirLue to adopl th¢ goiiig conceiTh basits ofaccounting in prepai'iiig the financial statements, INCOME All iiicome is i'ccognised once Ihc cliarity has cntitlcment to ilie incoiT]C, it is Pl'obablc that tlie incoine will be i-c¢oived ¢iiid thc ainount of iiicomc rcccivable can bc Lneasuird reli(ibly, Grants are included in the Stateinent of finiiiicial Activilies on d receivable b<iS. The balaiice OF income received foL' specific putyoscs bul not expcndcd during Ilie period is showi) iii thc relevant rullds on the balance sheet. Where inLOITLL is reeeived in advance o'f eiititlemenl Dfi-eceipt, its recognition is defeLT¢d and included in croditOLS as defeCd income. Where entitlemeiit occurs bcforc iiicoine is reccived, lh¢ incorn¢ is acci'ued. WhLI'e the do1£¢d good is a fixed assct, it is measured at fail. value, unlcBs it is impi'aLtical to Incasui'¢ this reliably. in which CPLSC tlie cost ofihe it'em to tlic donor sliould be used. The gaiii is recogiiised as incoinc froin donal.loi aiid & COiTesponding amount LS includcd in thc appropriale fixed a5SCt ¢la55 and depreciated ovei. tlie useful e¢onomic life in accoidance with thL charity's accouiiling policics. On L'eccipt, donalL.d profcssional s¢i'vices and facilities are recognised OLI the basis of the value of the gift to the charity wliicFI is the amouiit it would have boen willing lo pay to obtain scrviccs oi. facilities equivaleiit econoinic benefit on the open imai'ket., a cori'cspoi)ding d1110unt is tlieii i'ecognised in expendituir in tlie period o'Freccipl. Iiicome lax recovei'able in relation to doiialions received vnder Gift Aid or l)eeds ofcovenant is recognised at the titne of Ihe donation, Tiicome t recoverable in i'elation to investmcnt income is recognised at Ihe lime the invcstLneiil' iiicoine is i-eccivable. Otli¢i' in¢oine is recognised in ihe pgriod in wluch it is itceivable and to the cxtcnt the goods have bcen provided or oll coinplelion of tlie sei-VLCC. liXPENDE'FURL Expcndituye is recognised oiicc there is & legal or constrLiclive obligdtlOLI to Lrtlnsffcr economic beiiefit lo a third party, it is prubablc tliat a li'ansfei. ot cconoinic bLncfils will be required iii seltlLmciit aiid Ihc ainount of the obligation can b¢ Ineasure reliably, Expenditure 011 rdising fuiids iiiclude all expenditure incuiied by tlie cliarity to raise fLmds For its cliai-it<iblo purpuses and includLs costs of &ll fLdrls1ng dctivities cvents and iioii-charilable trading. Expenditui-e on cliaritable dcliviliLS is inciiii'cd on directly u11deit&lciiig Lhe aclivilics whicli furllicr thc chai'ity's objoGlive5, as wcll as aiiy associaled support costs. All experLditure is inclusive of iiyecoverable VAT.
ICI.'YS'I"ONL DI"VF.LOPMLIN'I' I"RUS'I"
PA(Jl,; 10
FINANCIAI. 8'1'A'I"BMBNI'S FOII 'I'IIB YLAII E-,NI)LD 31 S"1" MARC'FI 2024
NOI'FS TO -I'iIE fiNANCIAI. SI"A"fLqMFNTS
CJOVFRNMEN'f (JRANI'S
(Jovcrninenl granls rclatiiig to tal11b1 fixcd assel's arc Ii'e¢ltL,d dcfoii'ed iiicoinc &iid r¥le
KFYS'E'ONf, DEVLLOFMfNr 'riius'r PAGI,. I riNANCIAI, s'fA'fLMENT8 FOR'I'FIE YLAR F,NDF,D 31.£'I' MAKCII 2Q24 NOI'I'.;S 'I'O 'I'I.IE fiNANLIAL, S'I'AI'LMI,'N"r8 l.12. I.IABILII"IES AND PROVISIONS Liabilities are recogniscd whci'e there is an obligatiOLI al tlio bdldn¢¢ sheet dale as (I result uf a past event, it is probable thal a transfer of economic bcnefit will bc required in setL"Icment, and ilic ¢iiiiounl of Ilie scltlencnt cali bo cstiniated reliably. LiabilitiC5 arc recognised at ihe amounl tELal the charity anlicipat¢s it will pay to settle the debt or the amouiit Lt has rcceived as advanced payrnents for tlie goods or services it must pi'ovidc. 1.13. FtNANCIAI. INSTRUMEN'rs I'he charity only has fiiiancial assets and financial liabilitiLs of d kiiid iLiat qualify a5 bpASiC fiiianci&l iiistruments. Bas(¢ fiiidncial insti'iimeLlts are inÈtially recogiiised at t'l'Éinsaclion Vdlutt aiid subsequenlly Ineasured at. their s¢ttloinLnt vajue. 1.14. Pli.NSIONS 'riie charity operal'es a defined contribulion poiision schcme and ihe pension chargL represents the ainouiils Pdyable by tlie chai'ily to the fund in i-espcct of tli¢ year. I,'UND ACLOIJNTING Geiiei'al funds are Linresl'LiCted funds which are available for uso at the discrel'ion oFthe tru5L"ees in Furthei'aiice of the gcn¢ral obj¢ctives of ihe cliarity and which have nol bcen designatad foi. other PLirposes. Eicsti'icted funcls ill'c funds which ai'c to be used iii dCCOI-dance with spccific rcslrictions iinposcd by donors or which h&vc becii i'aised by thc Lhdrity lot. particulay PLirposes. 'I'h¢ costs. olraising aiid ddininisteL ing such funds are ¢harged ag'¢tLnst the specific (llnd. I"li¢ aiin aiid use of eaGlI i-estricled fLind 15 set out Ln thc note8 lo the fiiiancial st'atcments. (:Ri'ricAL ALCOIJN'fINCy F,S'I'IMA'fEs ANI) AIILAS 01- JUDGLJML7NT Estiniatcs aiid judg¢meiits are coiitinually Lv&luated and are bascd on hi5lorical LxpLrieiiLL &tiid otlicr factors, including expectatioiis of future events I'haL are belicvcd io be I'¢ason(iblc Liiidcr the CiTcumstanc¢s. Crili¢al dccounting estiinates and assuniptioiis.. Tlie cliarity m&kes eslimales dnd assulnptio1 concerning th¢ futurc. 'I"he resulting accouiiting estiinat¢s dnd assuinptions will, by dcfinitlOLI, scldom cqu2tl Ihc i-elated actudl rcsults. 'I'hc e%timates aiid assumpiions that have a significant rislc of causiiig a matei'ial adjustinent lo Ihc CaiTyiiior aLnouiits of assets and liabilities widiin the next financial Ye¢ are discussed below. Critical areas of jiidgement: Iii assessing tlie calrying valu¢ of taiigible fjxed assets die tiustees cstimattt the anticipatrd use1 lives and r¢sidiial v&luc of Ihc as,8els. 3 INCQML FROM DONAI"IONS ANI) L,EGACILS - CURRf,NT YLAK Uiircstricted Reslrictod Tr'uiids 2024 Tol&l I",unds 2024 2024 l)oiiations 280 600 880 - PRIOR YI=AR Unrestr(ctcd Restt'ictod Vunds ruiids 2023 2023 'I'otal F"Linds 2023 Donations 760 760
IcrYs"I'ONL I)L-,vr,J.OPMI-N'I" I'IIUS'I" PAGE 12 lilNANCIAI, s'fA'I-EMJ",N'I"S I,'OII"I-IUI YLAR r.NDf,.D 3 Is'r MARCII 2024 NOI'L8 1.0 I'IIL I,"INANCDiL S"I'A'I'EMFN'rs INCOME FIIOM CI4AJlI'fABLE ALI"IVITIES - CUIIRf,NT YEAR UnL'¢strioted Eiostri¢ted F unds Fuiids 2024 2024 'lotal 2024 Gi'ants Rental incuinc wid servic¢ charge Eioom liire Gi-ceii bikesrrii¢tfoi'd shcd ccha]'gL's Mis¢¢llaneous 78,654 78,654 124,134 20,692 2,957 19,721 1,270 247,428 124.134 20,692 19,721 1,270 168,774 - PRIOR YEAR Unrcstricted Resti'icted l-, unds 2023 'I'otal l.'uiids 2023 2023 Gi.¢ts Eiental illCOLne and sei'vice chai'ge Room hire GLcet] bike5friietFoi'd shed Rechdrgcs Miscellaneous 17,929 17,929 237,491 22,181 1,993 22,556 2,394 J04,544 237,491 22,181 1,993 22,556 1,894 500 286,115 18,429 INVES'fMF.N'I' INCOMr, . cuiiiir.N"f YF,AR Unrestricted ReslTiCted I", Ltnds 2024 "Fotal Fuiids 2024 2024 Rental iiicomo - St Jolins Banlc iiiterest i'eceived 12,520 12,520 16,218 16,218 16,218 12,520 28,738 - PIUOII YLAR Unrestricled Restricted Fuiids unds 2023 2023 2023 Rental in¢um¢- SÈ Johns Bank LLlterest received 17,520 17,520 439 439 439 17,520 17.959 6 INCOME FROM OI'HER 'IIiADING AC'I'IVI'I'IES . CURRf,,NT YEAEi lJni'eslricted Restricted. Funds 2024 'I'otal iuiids 2024 2024 389 389 - ptUOR YF.A Ui)rcsti'icl¢d R¢sti'ict¢d Iluiids l?uiids 2023 2023 I'otal Funds 2023 1,810 24,072 25,882 1,810 24,072 Coiiferencing 25,882
l(F, Ys'foNE Df.vr,i.OPMEN'f TIILJS'I" PAGL13 I,'INANCIAI, S'I'A'I'LMT:'N"I"S I,'OR'I'I.11,' YLAR I=,NI)LD 3 ISI. MARCII 2024 NO'I'k,'% 'l'O TFIF %,"INANCIAL s"fA'fLMF,N"I"S EXPENDITURE ON tiAistNCJ FUNDS - CURRENI. YEAR Uni'esti'icted Restricted Funds Funds 2024 2024 'L"ol'al 2024 C'afé- food afé- otlier Confei'enciiig - pi'emises costs Bikes and sheds 10,790 740 135 5,382 10,790 740 135 5,382 17,047 17.047 i.=xpr,NDITURL ()N RAISING I.-IJNDS - PIiIOR YEAR UnJ'¢stricted Ele5ti-Ictcd Total I,"uiids 2023 2023 2023 Café - food CLtfé - otlici. Coii'ferencing - preinise5 cosls Bikes and sheds 495 103 2,286 394 495 I03 2,286 394 3,278 A.NAt,YSlS QF EXPENDITURE BY AC'I'lVI'I'irs - CURRT.',N'f Yr.AR Activities undcrtakc11 dii-cctly 2024 ,Suppoi't vsts 2024 'rotal fund.8 2024 Cliarildble (Ictivilies 351,993 186,015 538,008 - PRIOR YI-.AR Activities undci'takeii dii'octly 2023 £LIPPOL'I cosls 'I"otal runds 2023 2023 ChGiritable activities 414,211 268.567 682,778 ANALYSIS or DIRF,CI' COSI"S 'rotal ruiids 2024 'rotal 2023 Slaff costs Rent, raLes and utilities Pi'einises costs IIisLErance Ilepaii's and inainteiiance Technology costs Othei- direLt' costs 'I'i'avel costs AdveriiSlLig Staff trainiii(r Vehicle costs Revaluationsliinp&ii'inents Deprcciation Loss on disposal of fixed &%set Invcslmcnt Sundry expenses 86,06 I 88,375 68,269 21,549 21,168 8,983 61 3,128 64 10,430 3,914 13.879 14,418 250 11,444 125,183 166,545 81,757 19,175 28,630 11,589 1,747 2,078 350 827 3,718 (43.100) 2,165 351,99J 414,211
KI:,YS'I'()NIj [)LVI.,;I.()PMLNT 'riius'i' l)A(iL,; L4 I,"INANCIAL 8'fAI'LMf,N'i"s roil 'I'iiL Yi.'All b.ND£I) 31 ST MAIICI12024 NO'fF,S TO I'blE-, FINANCIAL S1'ATEMLNTS ANALY,8IS OF SUPPOR'I, COSTS "I"otal "fotal liunds 2023 2024 Slaffcosts Finance and professional fees Generdl office Coinniwiicalions and I'f Goveriiancc costs Poslagc aiid slationcry 80,000 58,189 21,594 8,874 13,366 3,992 105,000 96,981 36,026 15,055 9,660 5,845 l86,015 268,567 INDEPFNDENT EXAMINE.II AND AUDII"ORS RLMUNERA"fIoN 2024 2023 rccs payable to tlie chai'itls independent exaininer 2,650 2,500 10. S'I'AFF COSTS 2024 2023 Wages and SaI.1c8 Social security Costs Coiitribution to dcfined contribulioii peiisioii schcmes 158,591 3,550 3,920 217,283 8.546 4,354 166,061 230,18J 2024 2023 "I'lic averagc nuillbei- of peLsons ¢mploycd by tlie chaiity duriiig thc year No eillployee i'eccived remiinerat(oii ainouiiting i'o more than £60,000 in eidici. year, 'fhe total amouiit of employee ben¢fLts (iiicluding cmployer peiision ¢oiitTibulions) reccived by Icey mdnageiiicnt. pei'soni)cl for ilieir scrvicos to thc cliarity was £64,879 (202J'. £54,268) I'hc mancigemeiit team is Ricky Aylolt (Chiefoperations Officcr) dnd Alison Jucno (E)cputy Operat'ion Officcr). 'rRUSTEE% RF.MLtNt,'IiATION AND EXPFNSES DLiring the year. tio ti'ustecs receivcd any rcmunLtztion or oLhci- bencfit5 (202J', £NIL,). Dui-ing the yeai, ended 31sl Marcli 2024, £209 worth of cxpenses wcre rcimbui'sed or paid directly to 2 truslecs (2023, £Nil)
i o en oo r4 0 t en ¢Th trj oo t mc cn cn rn rn Ft rry rq ¢n rry frym rn cr) O Q) sJtyl cn cry rry rn 4) Uo o) l U<<Qr4 < Q<UtUcd < V<f<o2 < o4u < I
KI,'Y,STONb DLIVELOPMEN'f i'RUS"I' PA(JL 16 F INANCIAL s'fATL7MEN'I'S I.'OR TFIL, YEAR 8NDLD 31 S'I, MARCH 2024 NO'I'L?s 'io 'riiB I-, INANLIAL S'I"ATLMEwrs INVLS'fMF.NT PROPERTY 141'cc1101d liivestment Property 2024 Freehold Inveslmcnt Pl'opcrty 2023 VAI,UA'fioN Al I st Api'il 2023 At 31 st March 2024 350,000 350,000 350,000 350,000 'Flie 2023 and 2024 valualioL1S were made by ihc dir¥clors with refcrence to thc rL'Icvdnt soui'ces, Tlic values are fail. value, based oli op¢n Inai'ket vdlue. 14. IXFD ASSET INVFS'I'MENI'S lJnlisted ljnlisted Investsllent5 1nv¢stments 2024 2023 COS f OR VAI.UA1'10N At Ist April 2023 Disposal At 3 ISL March 2024 250 (250) 250 250 The inve31Tnent repi-esenls 250 ordinary £1 shill-es in fouiiddlion Ei ast, a nol foi, PTofit organisation opei?ting across uffoll(, Noi-folli, b.ssex and Laifftbridgoshire? providing support to busincsses. social entetT)I'ise8 and iiidividuals thal cawiol. get a baiik lo1. 15. S'I'OCKS 2024 2023 Raw miltei-ials dnd coi)sumables .%oo 500 DPB'I'ORS Due wilhin oiie ye. Trade debtors Other dobtoi's Prcpayments and Etccrued income 2024 2023 36,530 6,300 17,894 12,252 21,268 65,163 17. CIIEDITORS Aillouiits falliiig due within one year.. 'rrade ci'editors Other laxation and social s¢curity Other cred(tors Bp£nl< loan due iii oi)c ycdr Accru5 Defcrred incoine 2024 2023 l7,124 3,388 495 10,086 2B,202 15,228 36,557 906 10,6411 27,444 12,067 74,523 87,622 CRF.DI'I'OIIS ounts falling (fue <iftLI' l yea].: Banlc loall Due 1- 2 yetws Due 2 - 4 years 2024 2023 10,347 6,180 10,648 15,163 2.5,811 16,527 1"1)e bank Iodll IS sccul'cd by a fixed clidrgc oli frLehold land and neg£tlive pledge.
Kl-Ys'foNE DEVEI.OPM£N'I I'EIUS'I. PAGI.: 17 I-, INANC'IAL SI"AI'F,'MF,'N'FS I,"OTI 'I"14r YFAR LNDLD 31 S'I" MAIIC14 2024 NOTES -I'() I'IIP FINANCIAI, 8'fA'I'EMEN'I'% 2024 2023 Dcferred iiicoille at I st April 2023 Ilcsoui'ces defeired dui-ing iho yLai- Ainouiils releascd froin previoLlS pcriods Defcrred inconic at 31 Mai'ch 2024 12,067 15,228 (12,067) 15,228 42,551 12,067 (42,551) L2,067 l)cfcrr¢d inconie compriscs rents for pei'iods iLi (1VancO and i'cnta] deposits held, s'rA'fF,MEKf or ruNDS - CURtiEN"r YEAR Balance Balance TraiisfeLS at 31st iiil(uut) Mktrch 2024 April 2023 Iiicoine Li xpenditure UNIIES'fKIcI'ED E",UNDS lJnreslTlCted funds Dosignated funds 53,405 1,137,206 1.190,611 187,161 (471,906} 232,184 (247,206) (15,022) 844 890,000 187,161 (471,906) 890,844 RESTRTC'fED FISNDS Iceystone Coininuiiities I<eysloiic Resources 85.917 51,734 79,254 12,520 (70,379) (12,520) (82,899) 5,453 100,245 51,734 137.651 91,774 151,979 RESTIUCI'F.I) E,'IxfD ASSBTS FUNDS Cliildreii and Youth Keystone Propei-ty 5,453 1,348,818 (5,453) 15,022 (250) (250) (83,149} (555.055) 1,36J,590 1,354,271 9,569 1,363,590 'ro'rAL IU,'STIIICI'ED fuNDS 1,491,922 91,774 15,022 1,515,5CI9 'I'o'rAL or i.-UNDS 2,682,533 278,935 2,406,413 S'FATEME.'N'I' OF fiJNDS - PIII()K YEAR rsdl¢ince Balai)c "I'raiisfei's at31st in/(out) Mai'cli 2023 April 2022 Income Lxpenditure IJNRES'rRic'rED I-, UNDS UnrcslTlCted fuiids Desiglldted funds (227,049) 400.857 (650,107) 529,704 1,137,206 53,405 1,137,206 (227,049) 400,857 (650,107) 1,666,910 1,190,611 RF,STRICTf.D FUNDS Iccystone Coinilliinities Iceystoiie RLsuurces 85,917 51,734 137.651 18,429 17,520 35,949 (18,429) (17,520) (3 5,949) 85,917 51,734 137,651 RES'fiiiL TF.D I.'IXED ASSE'I',% fiJNDS Children and YoLIth Keystoiie l)I'opeity 5,453 3,015,728 5,453 l.J48,818 (1,666,910) (1,666,910) (35,949) (1,666,910) (686,056) 3,021,181 3,158,832 2,93 1,783 1,354,271 1,491,922 2.682,533 I'OI'AL. RESI'lllC'rrD FUNDS 35,949 'ro'i'AL or FUNDS 436.806 DESIGNATCD fuNDS A bi'ealcdowii of tlie d¢signated funds cai) be found wilhin th¢ Trustecs Ileport ILI tlie reserve policy oil page 2. CHILDREN AND YOUTH 'I'o provide youth aiid childi-cn's activities in tlic local are<i. ICF,YSTONE LOMMUNITILS I'li¢ Eiinds pi-ovide support For Loinmuiiitles (Lnd groups lo hclp tliemselves build the capdcity of neiglibourlioods.
ICb.Y81"ONI=, Iir.vi-, LOI)MJ,:N"I" TLIIJ8'1' PA(ir, I I",INANCIAL S'I'AI'LIMLNI'S I,"OR I'111=. YL7AEi ENDb,D 31 s'r MAIIC'II 2024 NO'ILS 'fo I'llLI P INANCIAL s"fA'I'EMLNTS KEYS'I"ONf, RESOIIRCLS A divers¢ portfolio of buildiiigs owiicd by tlie Trust thi'ough which incomi is geiicraled aiid space providod lo pr'ojccts for theit) to carry out tlieir work, Tlie L'cstrictioii was lifted following 1110 disposal of propcrtics iii Ihe cui'i'iiit ye&i' aiid accurdiiigly d traiisf¢i' oltlio.%e funds m(idc t'o Oul. UllTestriclcd Fuiids. ANALYSIS or NEI, ASS'E'I',8 19. Uiir¢stt'icted l uiids (in¢l.. designated) 2024 Rcstrictcd Restt'icted T4ixed Ass¢t l-,unds 2024 - CIJRREN"I' YEAII "I'olal 2024 2024 Tangiblc fLxed assets Investment pi'opeity Gurrenl assets Lredilors I,Ol3,590 350,000 5,453 I,O19,043 350,000 1,128,420 (91.050) 2,406,413 15l,979 976,441 {91,050) 890,844 15l,979 1,363,590 - PRIOR YLAR Unrestricted I,'unds (incl: designated) Restt'icled Restricted fixed Asset FLinds l-, Linds 2023 2023 1.unds 2023 'raJigib2c fiycd asscts rixed asset iiivcstineiits Invcstment property Currcnt assets C'i'cditors 1.004,021 250 350.000 1,004,021 250 350,000 1,441,695 (113,433) 2,682,533 137,651 1,304,044 (113,433) 1,190,611 137,65l 1,354,271 20. Rf.CONCILIATION OTr NE'I. MOVEMENTS IN fuNDS TO NBT (:ASH FLOW I.'ROM OPLIIATING AL'fivi'FIES 2024 2023 Nct (expenditui'e)lincoinc for Ihe period (as PLr Slatoment of Fi inaiicial Activities) Adjlistinents foi.. Doprecialion ¢hai'ges Investment incom¢ Revaluation of fix'ed asscts Profit on sale of fixcd assets (Incredse)Idccrease iii debl'ors Increase in creditoj's (276,120) (249,250) 14,418 (28,738) 13,879 (1,250) 4,439 (22,383) (295,755) 13,546 {17,959) (43,100) (86,i48) 50,836 (211,192) (543,467) Net cash used in operatiiig activities 21. ANALYSIS OF CASH AND CASII EQUIVALEN'I'S 2024 2023 Cas11 iii liaLid Casli at ban1< 4,449 1,062.747 1,371,673 1,376,032 'rotal ¢&sh aiid casli equival¢llts 1,067,196 22. prNSION COMMII'MEN'I"S Tlic ¢liarity operates & (lefincd conti-ibulioi?s pension scliemo. I'lie asscls of thc scheinc are held scparalely froiii Iliose of tlic chdl-Lty in dll 1iidependollt.ly adinintsleird fund. 'fiiL pLiisioii cost chai'gc reprosonts conli-ibutions payable by thc chai'ity to the fund diid aLnvut]ted to £2,6JO (202i Conlributioiis totalling £495 (202) £4,3 54) 11IGluded in creditoi-s. £nil) were payable lo Ihe fund al tFLL balaiice shLe( datc and aLe
ICF:'YS'FONL DEVELOPMI-N'I I'IIIJS'I, PAGf. 19 I,'INANCIAI. S'IATE,:Mbbrrs roR THE YEAR LNF.I) 31 S"I' MARCII 2024 NOTES "ro Tl.IE fiNANCtAI. s'fATfMf..NTS 23 RELA'fEI) PAlI'fY 'iRAN8AC"fioN8 Duriiig tli¢ Ye., t11e chai'ity purchased professioiial seiwices lotalliLig £2,400 (2023: £2,867) fr011i Ante LLLnited, a coinpany which Clive Wadhain-smitli, a trustec, is a dii-eclor. A8 al 3 Isl Mai'cli 2024 £200 (2023., £424) was owed to Anlc Limited and is iiicluded withtn tradc creditors.