2022-03-31-accounts - Keyfund Federation Limited

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Contents		Page
Welcome by the Chair,	Chief Executive and Interim Chief Executive	1 —2
Directors' report		3 —18
Auditors' report		19-22
Statement offinancial	activities	23
Balance sheet		24
Cash flow statement		25
Notes to the financial	statements	26-37

Reference and administrative details	Reference and administrative details	Reference and administrative details	Reference and administrative details	ofthe charity, its directors and advisers	ofthe charity, its directors and advisers	ofthe charity, its directors and advisers	ofthe charity, its directors and advisers
Charity Number			1093569
Company		Number	03339120
Registered		Office	Mea House
			Ellison Place
			Newcastle upon Tyne
			NE1 8XS
Directors			Andrew Silver			(Chair)
			Lieutenant General		Robin Brims	(Vice Chair)
			Julian Thomas
			Leigh Thompson
			Emma Richards
			Mary Youngs
			Elizabeth Watchorn
			Terence Burke
			Lisa Eaton		(Retired 14'" February 2022)
			Chris Alete		(Appointed		23rd September 2021)
Key management
Company	Secretary 8		Richard Haigh
Chief Executive Officer
Auditors			Haines Watts
			17Queens Lane
			Newcastle upon Tyne
			NE1 1RN
Bankers			Co-operative	Bank	Pic
			PO Box101
			1 Balloon Street
			Manchester
			M60 4EP

People	1 Achieve the best outcomes / impact with young people	1 Achieve the best outcomes / impact with young people	1 Achieve the best outcomes / impact with young people
	2 Increase the numbers ofyoung people using	KEY+
	especially those who are currently under-served
Partners	3 Build more funded paitnerships with organisations		working
	with young people we want to reach
	4 increase demand and usage from delivery partners
Product	5 Develop, launch and continually refine Key+
Enablers	1 Bea 'learning organisation'
	2 Fully embrace our digital potential
	3 Ensure that young people have voice and influence
	4Actively work towards equity, equality, diversity	and
	inclusion
	5 Develop a strong team ofstaff and volunteers
	6 Utilise marketing 8 income generation to achieve this plan

			Restricted	Unrestricted	Designated	Total	Total
			Funds	Funds	Funds	2022	2021
		Notes			E	E	E
Income from:
Donations		4		13,081		13,081	11,302
Charitable activities		5	175,532	147,877	90,500	413,909	492,035
Investment income		6					806
Totalincome			175,532	160,958	90,500	426,990	504,143
Expenditure on:
Charitable activities		7	216,044	155,427	182,46'I	553,932	391,945
Total expenditure			216,044	155,427	182,461	553,932	391,945
Net income before	transfers		(40,512)	5,531	(91,961)	(126,942)	112,198
Transfers
Net movement in funds			(40,512)	5,531	(91,961)	(126,942)	112,198
Reconciliation offunds
Total funds brought	forward		170,831	142,018	208,071	520,920	408,722
Total funds carried	forward		130,319	147,549	116,110	393,978	520,920

				Notes	2022	2021
					f.	0
Net cash flow from operating activities:
Net cash (used in) Iprovided by operating			activities	17	(128,698)	136,782
Cash flows from investing	activities
Investment income received						806
Purchase oftangible fixed assets					(2,327)	(2,918)
Net cash (used in) investing activities					(2,327)	(2, 1 12)
Change in cash and cash	equivalents	in the
reporting period					(131,025)	134,670
Cash and cash equivalents	at the beginning		ofthe year		535,710	401,040
Cash and cash equivalents	at the end	ofthe year			404,685	535,710
Cash and cash equivalents	consist of:
Cash at bank and in hand					404,685	535,710

			Designated	Restricted	Unrestricted	Total
			Funds	Funds	Funds	2021
		Notes	L'	f	F.	F.
Income from
Donations					1 'I,302	11,302
Charitable	activities		254,800	117,735	119,500	492,035
Investment	income				806	806
Total income			254,800	117,735	131,608	504,143
Expenditure	on:
Charitable	activities		146,322	117,528	128,095	391,945
Total expenditure			146,322	117,528	128,095	391,945
Net movement		in funds	108,478	207	3,513	112,198
Reconciliation		offunds
Total funds	brought forward		99,593	170,624	138,505	408,722
Total funds carried forward			208,071	170,831	142,018	520,920
4. income from donations
					2022	2021
					F.	L
Donations					13,081	'I 1,302
					13,081	1'I,302

Keyfund Federation Limited (Acompany limited by guarantee)
Notes tothe financial statements	(Continued)
Forthe year ended 31March 2022

S. Inc	ome from charitable activities
		2022f	2021f
Grants receivable		386,417	484,987
Membership	income	27,492	6,924
Other income			124
		413,909	492,035
6.Income from charitable activities
		2022	2021
		f	f
Interest receivable			806

Staff costs
Depreciation and impairment
Direct project costs
Staff related costs
Travel expenses
Propertycosts
Office costs
ITcosts
Advertising and PR
Legal and professional
Bank charges
Share ofsupport costs
Share ofgovernance	costs
Analysis by fund
Linrestricted funds	- general
Unrestricted funds	—designated
Restricted funds

	Support	Governance	2022	Support	Governance	2021
	Costs	Costs	Total	Costs	Costs	Total
	E	E	E	E	E	E
Staffcosts	42,608		42,608	33,329		33,329
Audit fees		5,740	5,740		4,608	4,608
Meeting costs		1,571	1,571		562	562
	42,608	7,311	49,919	33,329	5,170	38,499

		2022	2022	2021	2021
		Number	FTE	Number	FTE
Charitable	activities	10	10	9'

activities
			2022 E	2021f
Net (expenditure)/income for		the year	(126,942)	112,198
Investment income				(806)
Depreciation oftangible fixed		assets	1,561	407
(Increase)/decrease	in debtors		(9,977)	63,363
Increase/(decrease)	in creditors		6,660	(38,380)
Net cash flow from	operating	activities	(128,698)	136,782)