##
||||
|---|---|---|
|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|E|
|Fixed assets:||||||
|Tangible assets||||3,277|2,511|
|Current assets:||||||
|Debtors|||12|14,368|4,391|
|Cash at bank and|in|hand||404,685|535,710|
|||||419,053|540,101|
|Liabilities:||||||
|Creditors: amounts||falling||||
|due within one year|||13|( 28,352 )|( 21,692 )|
|Net current assets||||390,701|518,409|
|Net assets||||393,978|520,920|
|The funds ofthe|charity:|||||
|Unrestricted
funds||||147,549|142,018|
|Designated
funds||||116,110|208,071|
|||||263,659|350,089|
|Restricted funds||||130,319|170,831|
||||14|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||
|2022
E|2021f|
|---|---|
|276,762|219,269|
|1,561|407|
|75,288|30,387|
|6,681|17,004|
|2,921|521|
|23,042|17,132|
|2,676|2,459|
|9,187|10,165|
|11,958|808|
|103,672|54,808|
|638|486|
|514,386|353,446|
|32,235|33,329|
|7,311|5,170|
|553,932|391,945|
|155,427|128,095|
|182,461|146,322|
|216,044|117,528|
|553,932|39'I,945|
##
##
##
||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|
##
|Staff c|osts were as follows:|||
|---|---|---|---|
|||2022|2021|
|||E|E|
|Wages|and salaries|269,993|220,770|
|Social|security costs|22,248|16,508|
|Other|pension costs|16,756|15,320|
|||308,997|252,598|
|||2022|2022|2021|2021|
|---|---|---|---|---|---|
|||Number|FTE|Number|FTE|
|Charitable|activities|10|10|9'||
##
##
##
##
|||2022|2021|
|---|---|---|---|
||||E|
|Trade debtors|||254|
|Prepayment|and other debtors|14,368|4,137|
|||14,368|4,391|
##
|||2022|2021|
|---|---|---|---|
|||F.|F|
|Trade creditors||7,308|3,576|
|Social security costs||8,802|6,348|
|Accruals and deferred|income|12,242|22,768|
|||28,352|21,692|
##
##
|||||Brought||||Carried|
|---|---|---|---|---|---|---|---|---|
|||||forward|Income|Expenditure|Transfers|Forward|
||||||E|E|E|E|
|Unrestricted|funds||||||||
|General funds||||142,018|160,958|(155,427)||147,549|
|Designated|funds||||||||
|Project funds||||188,321|90,500|(182,286)||96,535|
|Key Funds||||19,750||(175)||19,575|
|Totalunrestricted||funds||350,089|251,458|(337,888)||263,659|
|Restricted funds|||||||||
|Key Funds||||80,230|59,500|(66,870)||72,860|
|Project funds
funds)|(previously||core|90,601|116,032|(149,174)||57,459|
|Total restricted funds||||170,831|175,532|(216,044)||130,319|
|Tota I funds||||520,920|426,990|(553,932)||393,978|
##
##
##
|Y
ended 31|Y
ended 31|March|March|2 21|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Brought|||||Carried|
||||||forward
E|Income
f|Expenditure||Transfers
f|Forward
E|
|Unrestricted||funds|||||||||
|General funds|||||138,505|131,608||(128,095)||142,018|
|Designated|funds||||||||||
|Project funds|||||99,593|234,800||(146,072)||188,321|
|Key Funds||||||20,000||(250)||19,750|
|Total unrestricted||||funds|238,098|386,408||(274,417)||350,089|
|Restricted funds|||||||||||
|Key Funds|||||67,406|40,465||(27,641)||80,230|
|Core funds|||||103,218|77,270||(89,887)||90,601|
|Totalrestricted|||funds||170,624|1'I7,735||(117,528)||170,831|
|Total funds|||||408,722|504,143||(391,945)||520,920|
|Included
in the||above||funds are amounts|that need to be separately|||disclosed
relating to funds||received fro|
|Virgin Money Foundation;|||||||||||
||||||Brought|||||Carried|
||||||forward|Income|Expenditure||Transfers|Forward|
||||||E|E||E|E|E|
|Project funds|||||20,673|||(6,259)||14,414|
|Key Funds|||||13,700|—||(7,226)||6,474|
##
##
##
##
|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)|