(J )(JJ l L44 COMPANY NUMBER: 05031398 CHARITY NUMBER: 1108921 commiggic KEY COMMUNITY (Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
KEY COMMUNITY INDEX YEAR ENDED 31 MARCH 2025 Contents Pages Legal and Adminislration Information Trustees, Report 2-12 Independent Auditors Report to the Trustees 13-16 Statement of Financial ActivFties 17 Statement of Financial Position 18 Statement of Cash Flows 19 Notes to the Financial Statements 20-32
KEY COMMUNITY LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2025 Reglstered Charlty Name Key Communty (will be referred to as KEY throughout these financial statements> Reglstratlon Numbers Charity Number 1108921 Company Number 05031398 Trustees P. Hayton S. Hamilton D. Traynor l. Ogden G Cunningham {Appointed 2810112025) T Milton (Appointed 2910612025) (Trustees are also the directors of KEY for the purposes of company law) Company Secretary R. Allen Reglstered Office 116 Baring Street South Shields Tyne & Wear NE33 2BA Auditors Torgersens East Suite. Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ Bankers Unity Trust Bank PIC 4 Brindley Place Birmingham B12JB Cenlral Finan Board of the Methodist Church 25 Tavistock Place London WC1H 9SF Insignis Cash Solutions Sl John's Innovation Centre Milton. Cambridge CB4 OWS Solicltors Hardings 22 Foyle Street Sunniside Sunderland SR1 1LE
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Governin Document The organisation is a charitsble company limited by guarantee, incorporated on the 2nd February 2004 and registered as a charty on the 7th April 2005. The company was established under a Memorandum of Association. which established the objectives and powers of the charitable company and is governed under its Articles of Association. The organisation by special resolution amended objects on 26th July 2023 with permission of the Charity Commission. In the event of the company being wound up, members are required to contribute an amount nol exceeding £10. The Objects for which the Charty is established are for the public benefrt. 1. The provision of relief for young people in necessitous circumstances who are. have been. or are at risk of being homeless including (but without prejudice to the provision of other forms of relief) the provision of supported accommodation. family relationship breakdown intervention and mediation. advice and counselling. 2. The relief of financial hardship amongst people in South Tyneside and the surrounding area in sucb. WAV£ A£ Lhp truqtp.pq frnm tim@.tn-time t_h_ink_ f!t_ in Darticular: but not exclusively by: a) providing emergency food. essential toiletries, and household items to individuals and families in need andlor for distribulion by charities or other organisations working to prevent or relieve poverty b) such olher means. including (but not limited to) the provision of support or Signposting to relevant information and other advisory services. OFSTED Key continues to mainlain OFSTED registration for Askins Lodge. ensuring Compliance with n81ional standards for the housing and support of 16-17-year-olds. This registration enables Key to provide high-quality, regulated accommodation for vulnerable young people in South Tyneside. During the 2024-25 reporting period, Askins Lodge underwent intemal quality assurance reviews to nsure continued alignment with OFSTED expectations. Staff received updated training in safeguarding and trauma-informed practice, and the service maintained a strong focus on preparing young people for independent living. The OFSTED Tegistratlon reflects Key's commltment to delivering safe. supportive environments where young people can thrive. It also ensures that Askins Lodge remains eligible for referrals from statutory serVIS and continues to meel the evolving needs of Ihe young people it serves. Recruitment and a olntment of board of directors At Ihe 2024 AGM held in January 2025 the following Trustees were appointed: Gill Cunningham was added to the Board- Appointed 2810112025 The following trustees resigned: lan Montgomery - Resigned in March 2024 bul officially took off Charity Commission on 1610512024 Trustee induction and on oin tralnin I develo menl of trustees The Chair together with other Trustees regularly identifies the skills and expertise needed to ensure Ihe Board is diverse and well equipped to carry out its duties and responsibilities. All new prospective Trustees meet with the Chair and the Chief Execulive Officer to discuss what their role and involvement within the organisation might 8ntail.
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 New Trustees are taken by the Chief Executive Officer for a tour of the organisation's office, Supported Accommodation and other services delivered by Key Communty- This provides an opportunity for the Trustee to meet with staff who can Ihen explain their roles within the Charity. Staff are invited to Board Meetings where they will give a presentation outlining their service. This has proved to be of great value and gives a clear picture of how operations are planned and delivered. Every opportunity is taken to ensure that all Trustees. both those who are new to the role and those who have served for a long lime. have access to training and Board Development sessions. This is usually delivered by organisations such as ACEVO and the NSPCC as well as inhouse training. All Trustees are encouraged to ask questions when they are unsure and are supported by both the Chair and the Chief Executive Officer. A Board D8v8lopment Day was held in January. This was an opportunity for Trustees and Senior Management staff to look at the Charity's Beliets and Values. By the end of the day the Beliefs and Values had been discussed, amended and edited in preparalion to pr8sent them to staff and the Young People who use the services provided by Key Community. The Vision and Mission statements were discussed and amended to better reflect Ihe Charity at this presént time. Or anlsatlon Structure The Board is made up of people from professional backgrounds including, homelessness, finance. educalion, legal. managerial and engineering. The Board meets every 2 months and is responsible for strategic direction and policy of the charity. Decisions are made by the Board at their regular meetings. Additional meetings are called when the need arises. The levels of renumeration of Key staff are made at the Board meetings in lin8 With policy. Recrultment of volunteers Volunteering is at the core of Key's ethos. This year, 43 people volunteered at Key and its associated Key2Lrfe foodbank. These volunteers have taken part in the following training: Safeguarding Hale crime champion training Food hygiene certfficate Manual handling Placemenls have been offered to 4 Health and Social Care students. 2 with K2 Lrfe Foodbank and 2 working on the Key Community Bus. 6 Year 10 pupils from schools throughout the Local Authority have spent a week working at both Ihe Food bank and Key Community Bus. These students have also spent time at one of our supported accommodation properties to gain a better understanding of how Young People are supported by our organisation. 3 Year 12113 students from a school in South Tyneside have volunteered at the Food bank as part of their Gold Duke Of Edinburgh Award. All volunteers who handle telephone calls or work one to one with Young People have a DBS ertificale.
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Risk Mana ement Key Community has established robust systems and procedures to identify, assess, and manage the risks it faces in delivering services to vulnerable young people. The Board of Trustees regularly reviews the risk register and ensures that appropriate mitigation strategies are in place. Key areas of risk and corresponding controls include: Safeguardlng: All staff and volunteers undergo enhanced DBS checks and receive regular safeguarding training. Safeguarding policies are reviewed annually and aligned with national guidance. Health and Safety: Risk assessments are conducted across all propèrties and activities. Slaff receive training in manual handling, first aid, and fire safety. Flnanclal Sustalnability: The charity continues to diversify its incom8 Streams through grants. partnerships. and fundraising. Data Protection: Key complies with GDPR and has clear policies on data handling. confidentiality, and information security- Staff receiv8 regular training on data protection. Governan¢e and Compllance: The Board includes members with expertise in finance. law, housing, and safeguarding. Trustees receive ongoing training and development to ensure effective oversight. Opératlonal Dellvery: The CEO and senior management team monitor service delivery against contractual and quality standards. Internal audits and supervision ensure continuous improvement. The Board also operates groupslsessions involving trustees. staff, and young people to oversee specific areas of work. This inclusive approach strengthens risk awareness and responsiveness across the organisation. Related Parties Key Community continues lo work in partnership with a range of organisations to deliver high-qualty services to young people in South Tyneside, These include: Durham Dlocese and Bernicia Homes.. Flavia House is owned by the Diocese and managed by Bernicia Homes, with Key providing residential support. Karbon Homes: Askins Lodge is owned by Karbon Homes and leased to Key Community to provide supported accommodation. Key are acting agent for properties 2-9 Berkley Way on behalf of Karbon to support young people to progress to their own tenancies. South Tyneside Consortlum for Youth Hom•l•ssness: Key is a founding member alongside De Paul UK and Places for People. The consortium provides integrated pathways for young people to a¢¢ess homelessness services and participates in weekly HAPPS (Homeless Allocation Pathway Planning Support) meetings. Churches Together South Tyneslde: Key partners with this network to run the Key2 Life project, which indudes a foodbank, fvel voucher scheme, School Unrforms 4 All. and a food and fun holiday programme. Local Communlty and Faith Groups: Key receives practical support. donations, and volunteer engagement from churches and community organisations across the borough.
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 These partnerships are vital to Key's abilrty lo deliver holistic. person-centr8d support and to respond flexibly to the needs of young people and families in crisis. Pur The charitable purposes of Key Community, as updated in 2024. are: To provide relief to young people in South Tyneside who ar8 experiencing, have experienced, or are at risk of homelessness, including-but not limited to-offering Supported accommodation. mediation and intervention in cases of family relationship breakdown, advice, and counselling services. To alleviate financial hardship among individuals and familiès in South Tyneside and surrounding areas, in ways deemed appropriate by the Trust88s. This includes, but is not limited to: (a) Supplying emergency food, essential toiletries, and household items directly to those in need or through other charities and organisations working to prevent or relieve poverty. (b) Providing the Community Bus service bringing food and increased choice across South Tyneside, helping residents shop with dignity. strètch their budgets further and reduce the need for foodbanks. {c) Providing additional support such as guidance. referrals. and access to relevant information and advisory services. These charitsble purposes underpin all of Key Community's work, ensuring that the organisalion remains focused on supporting vulnerable young people and families through prevention, practical assistance, and empowerment. Publlc Beneflt Dls¢losur¢ The trustees have given due consideration to the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. Vlslon Every Young Person in South Tyneside will have a home and someone to turn to when they need support. Mlsslon When Young People are experiencing hardship or threatened with homelessness. Key is committed to inspiring them with hope for the future and the skills to live independently, to flourish, to be good citizens and the best people they can be. A¢hiev•ments and rformance Alm I: To prevent homelessne5S Objective 1: Provide advlce and guldance to help a Young Person declde if thèy can remaln at home or need to move out. Out of 134 referrals to the Prevention Team, 13 of the referrals were for advicelguidance around housing only. The remaining 121 referrals sent to the Preventionlmedialion Team were a combination of support to improve family relationships, improve school attendance and health and wellbeing
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Referrals come from: Children's Servicesl Local Authority Early Help: Schools: Housing Department: self-RefeaI. Consortium - De Paul UK Internal Referral- Supported Accommodation And Tenancy Support: Community Mentsl Health Services: Adult Services 70 28 13 Objectlve 2: Provlde medlatlon support to Young People and thelr famllles to reduce conflict and improve relationshlps withln the home to enable the Young Person to remaln at home If thls Is a safe option. It is not only the Young Person who is supported but the household in which they live: this may include parents, carers and siblings. Out of the 134 referrals made during the period 31 st March 2024 - 31 st March 2025: 70 Young P8ople have remained in the family home and support closed. 45 Young People and their families continued to be supported. 11 Young People were on a waiting list to ba allocaled a support worker. 3 Young People moved into Supported Accommodation. 5 Young people moved in with other family members. Key Community Prevention Tearn offer a free, professional mediation service to parents. carers and their children to lry to prevent family breakups from occurring. Mediation can be put inlo place while the Young Person is still al home or when they have presented as being homeless. The Family Intsrvention Service adopts a whole family approach. enabling families to gain support as a unit as well as working on a one-to-one basis with parents and children to tackle the complex issues that may have arisen. These issues often affect multiple members of the family unit. If the family access our help soon enough, support is put in place beforé problems have become entrenched, and relationships have reached breaking point. Key Community offers support and guidance on a wide range of family issues such as: Managing behaviour problems Improving relationships Signposting and accessing other support services Budgeting Form filing Providing someone to listen with compassion and empalhy Providing opportunities for families to meet others so they feel less isolated. Parenting skills Wellbeing support Educational Support
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Objectlve 3: Rai58 awareness of the realltles of belng homeless Staff give talks to local schools, colleges, churches. community groups, th8 Local Authority. and community organisations. Every opportunity is taken to publicise our work in the local press and social media. Biannual newsletter available in print and online. Homelessness stories Marketing and Communication Officer Key 2 Life Facebook Key Facebook Features in local media Fundraising and awareness Talks and presentations Alm 2: Prepare young people for Independent living. Objectlve 1: Provide supported shared accommodatlon for up to a p•rlod of 1 year at Askins Lodge (18 beds), Flavia House (5 beds), Strickland House15 beds). 36 Young People were supported at Askins Lodge, Flavia House and Strickland House. Objectlve 2: Provide Young People with move on accommodatlon following their stay at one of our supported accommodation properties, where they can begln to Ilve ind•p8ndently wlth a lower level of support for a perlod of 2 years or more. 9 Young People moved into Askins Cottages for lower support, 7 Young People moved into our move on properties wlthin the community and 38 Young People were able, with support. to move into properties and hold their own tenancies. Alm 3: To enable Young Peopl• to take opportunltles allowing them to access educatlon, tralnlng, employment and wellbeing. Objectlv• 1: Learn life skills Key Community promotes activities in supported housing projects to encourage healthy lifestyles. Cookery sessions are provided for Young People to help them learn how to cook healthy meals- these sessions encourage the Young People to work together for a common goal. Our Prevention Tearn facililate group activities for Young People who are feeling isolated. these include: Cooking Demonstrations First aid Sports day Healthy and unhealthy relationships Arts and crafts Key Community provides bursaries and grants to help Young People overcome barriers to employment. education and training. Bursaries and grants Cover the costs for our Young People to access college, training and employment, e.g., bus fares, books and equipm8nt when these are not provided by the Colege or place of work. Between 31 st March 2024 and March 31 st, 2025, bursaries and grants were applied for and granted as follows: Prevention and Mediation Tenancy Support
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Key Community's Prevention Team provides every Young Person and their families with skills and slrategies to help reduce arguments in the family home. Beeen 31st March 2024 and 31st March 2025. the Prevention Team assisted the following numbers of Young People to access the serVIS that met their needs: Key in house Counsellor Bright Futures Escape Intervention Lifecycle 19 Between 31 st March 2024 and March 31 st, 2025. 80°k of the Young People who were referred to Key Commurbity's Prevention Team with issues involving accessing education, have remained in school with some on a reduced timetablè. Working with the Young People and their families, we have been abl8 to rebuild relationships. Those who could not return to the family home were able to access our supported accommodation or were able to live with another family member. As a resull of this move, general well-being has improved and enabled the Young Person to concentrate on their education. ObJe¢tlv• 2: Arrange opportunities to tak• part In lelsure and community activltles. Activilies are organised by the Prevention Team and the Supported Accommodation Team. They include: Cookery demonstration First Aid Sports Games Use of gym equipment Objective 3: Ralse awareness of the realities of being homeless Key Community actively works to raise awareness of youth homelessness and the challenges faced by vulnerable young people. Staff regularly deliver talks and presentations to local schools, colleges. churches. communty groups. and statutory partners. including the Local Authority. The organisation uses every opportunity to promote its work through local media and digital platforms. This includes: A biannual newsletter, available in both print and online fonnats Sharing real-life stories of homelessness to highlight lived experiences Regular updates via the Key 2 Life and Key Community Facebook pages Features in local press and media outlets Talks and presentations to raise awareness and encourage community support Fundraising campaigns and awareness 8v8nts coordinated by the Marketing and Communications Officer These efforts help to challenge stigma, build community understanding, and generate support for Key's mission to prevent and address youth homelessness in South Tyneside.
KEY COMMUNITY THE TRUSTEES, REPORT {INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Objectlve 4: To support the mental health neS of young people. Key Community provides a compassionate and empathetic wellbeing support system which is designed to cater to the needs of vulnerable young people facing various challenges such as anxiety. relationship problems, anger issu88 and feelings of low mood. With a focus on understanding and valuing the individual, this service operates within schools in South Tyneside, South Tyneside Colleg8 and Key Community Supported Accommodation and Move On properties. Beeen March 31st 2024 and March 31st 2025, 59 Young People were supported by Key Community Wellbeing Service. Out of this 59 there have been a positive outcome of 89. This is because some of our Young P8ople have achieved more than 1 outcomes. Progression in general emotional wellbeing Increased positive outlook Improved focus on cessation Improvement in anger management Improvement in communication skills Positive relationships Improvement in anxiety Referral to external services for higher intensity intervention R&engaged with Key's Wellbeing Service for support 32 14 16 One of the contributing factors to the effectiveness of the counselling service is the ability to independently manage caseloads. The flow and remit of the referral process minimises the waiting time for elients, differentlating Key Community from other services, where lengthy waiting times are common. Alm 4: To meet the needs of young people requlrlng crlsls support. Objectlve 1: Provide émèrgéncy food packs, Includ5ng food, cleaning materlals, tolletrles, and sanltary items. 42 Young People from our accommodationloutreach services received a food parcel. 3611 adults, 2024 children and 1965 pets were fed at Key2 Lifa Foodbank. We have provid8d 2493 family parcels and emergency parcels to households with children below the age of 16. 204 National Fuel Bank Foundation rèf8rrals were made. Objectlve 2: Provide furnituré and household furnlshlng. Key Community staff, depending on the circumstances of the Young Person, will apply for a grant or funding, to assist with household fumishings and donations are also received from the local community. During the period beeen 31st March 2024 and 31st March 2025, the Tenancy Support Team applied for 4 granfs. Objectlve 3: Provide advocacy wlth crlsls loans, benefit elalms and sanctlon appeals. Staff at Key Community work with Young People to enable them to claim appropriate benefts. budget effectively. taking into account that their financial circumstances frequently change. Advocating for our Young People. Key Community supports with dealings with utility companies, landlords, Housing Benefits and Job C8ntr8 Plus. Young People are helped to complete online advance payment applications for Universal Credit.
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Key Community's Prevention Team occasionally assists families with making new benefrt claims when Young People have been estranged from family members. The team have supported families with appeals around such benefit claims as Personal Independence Payments. They have also helped to r8duc8 rent arrears resulting in families being able to remain in their homes. Key Community Bus The Key Communty Bus is a vital initiative by Key, aimed at reducing food waste and promoting access to healthy, affordable food in South Tyneside. Operating on Tuesdays, Wednesdays and Thursdays, the bus travels to various locations, providing a mobile food service that requires no membership and is available to all, regardless of their circumstanc8s. The lower deck offers a variety of Iow-COSt groceries, while the upper deck serves as a community space where people Can chat, access advice, participate in activities and even enjoy a mini library. This innovative project not only helps residents save on their weekly shopping but also fosters a sense of community and support. Forming Approprlate Partnerships: Key Community has been working with Durham Diocese and Bernicia Homes for 15 years and with Karbon Homes for 8 years to provide supported living accommodation. Key Communty helped estsblish thè South Tyneside Consortium for Youth Homelessness in collaboration with De Paul UK and Places for People. As a wnsortium. these three organisations provide integrated pathways for young people to access homelessness services in South Tyneside. This includes attending weekly meetings for HAPPS (Homeless Allocation Pathway Planning Support). Key Communty partners with Churches Together South Tyneside to run Key2 Life, a povèrty alleviation project based at the library on Boldon Lane, South Shlelds. This project includes a foodbank providing food for young people and the wider community. a fuel voucher scheme. School Unrforms 4 All, and a food and fun holiday programme. Funding was received from Feeding Britain to offer holiday clubs and a 'Big Day Out, to Seahouses. Contlnulng with wider strateglc plannlng, Key's Chief Executlve Offlcer attends meetlngs organlsed by South Tyneslde Counc51, In¢ludlng: Homelessness Forum Local Safeguarding Children's Board RIOnal Youth Homelessness Network Children's and Family Boa Buslness lannin Buslness Plan Key Community's Current business plan extends until 2027. We are actively working towards fulfilling the objectivès set out in this plan, which include enhancing our support services. expanding our accommodation facilities, and increasing community engagement. The plan outlines strategic goals aimed at ensuring long-tèrm sustainability and effectiveness in meeting the needs of vulnerable young people in South Tyneside. 10-
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 Future Plans Key Community is looking to expand its property portfolio to continue supporting and meeting the needs of the most vulnerable in society. This includes acquiring new properties for supported accommodation and developing partnerships with local housing providers. Additionally. we aim to 8nhance our service offerings by integrating more comprehensive mental health and wellbeing support, as well as increasing our outreach programs to prevent homelessness. Reserves Pollcy The financial review fcr the year ending 31st March 2025 highlights the charity's financial health and sustainability. Key Community has maintained a stable financial position, with income generated from grants. donations. and fundraising activities. Expenditure has been carefully managed to ensure funds are directed towards our core services and support progrsms. The establishment of a Reserves Policy aims lo build up reserves equivalent to six months, expenditure, providing a financial buffer against future uncertalnties. Reference should be made to note 17 and 18 on pages 27 to 32 of the accounts. Investment Policy Key Community's investment policy is designed to ensure the prudent management of the charity's funds. Investments are made with the primary objeclive of preserving capital while generating a reasonable return. The policy outlines the criteria for selecting investment opportunities, focusing on low-risk options that align with the charity's ethical standards. Regular reviews of the investmenl portfolio are conducted to ansure compliance with the policy and to adjust strategies as needed to respond to changing market conditions. RESPONSIBILITIES OF TRUSTEES The charity trustees (who are also the directors of KEY for the purposes of the company law) have prepared this trustees, annual port and financial statements in accordancé with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charitable companies in England and Wales requires the charity trustees to prepare financial statement8 for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of r8sources, of the charity for that period. In preparing these financial stataments, the trustees are required to.. select suilable accounting policies and then apply them consistently: observe the methods and principles in the applicable Companies Act 2006 and Charities make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounling Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to présume that the charity will continue in business. The trustees 8re responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 11
KEY COMMUNITY THE TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 MARCH 2025 And signed on their behalf: Penny Hayton Date: 12-
KEY COMMUNITY INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF KEY COMMUNITY YEAR ENDED 31 MARCH 2025 Oplnlon We have audited the financial statements of Key Community (the '¢harity') for the year ended 31 March 2025 which comprise the statement of financial position, statement of cash flows and the related notes, including a summary of signFficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure. for the year then ended., have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with th8 ethical requirements that are relevant to our audit of the financial statemenls in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have conduded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate, Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infonnatlon The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infonnation contained in the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our reporl, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wilh the fjnancial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. W8 have nothing to report in this regard. 13-
KEY COMMUNITY INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF KEY COMMUNITY YEAR ENDED 31 MARCH 2025 Oplnlons on other matters prescrfbed by the Companies Act 2006 In our opinion, based on the work undertakèn in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements aré prepared is consistent with the financial statements; and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtsined in the course of the audti, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns. or certain disclosur8s of trustees, remuneration specified by law are not made: or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, ex8mptions in preparing the directors, report and from the requirement to prepare a strategic réport. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 11. the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether du8 to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilitles for the audit of the financial statements Our objectives a to obtain reasonable assurance about whether the financial statements as a whole are free from malerial misstatement, whether due to fraud or error, and to issue an auditor's report thal includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always detect a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material rnisststements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below: 14-
KEY COMMUNITY INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF KEY COMMUNITY YEAR ENDED 31 MARCH 2025 Explanatlon as to what extent the audit was consldered capable of detectlng Irregularitles, Includlng fraud The objectives of our audit with regards to fraud are to design tailored and specific audit procedures to enable us to gather sufficient audit evidence. These tests are proportionate and appropriate to the charitable company in terms of assessed risk level and the nature of the entity's activities. However, the primary responsibility for the prevention and detection of fraud rests with those charged with governance. We obtained an understanding of the legal and regulatory requirements which applied to the charitable company, which we deemed to be the Companies Act 2006, and Statement of Recommended Practice to charities. the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS102)). We obtained an understanding of how the charitable company had complied with these regulations by reviewing their treatment of transactions, reviewing minutes of meetings and discussing compliance with Irustees and those charged with governance. We assessed the risk of material misstatement of the financial statements, including the risk of material misststement due to fraud and identified that income from housing benefrt and service charges is most susceptible to fraud or error. We designed our audit work to test the controls in place regarding the processing of these transactions and how thas8 controls are capable of preventing or detecting fraud or error. Our audit procedures gathered evidence to support th8 claims of the trustees whilst maintsining professional scepticism to allow us to draw our own conclusion on the matter. As part of an audit in accordance with ISAS (UK), we exercise prof8S8ional judgment and maintain professional scepticism throughout the audit, We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubl on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation. slwcture and content of the financial statements. including the disclosures, and whether Ihe financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 15-
KEY COMMUNITY INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF KEY COMMUNITY YEAR ENDED 31 MARCH 2025 We communicate with those charged with governance regarding, among other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficienctes in intemal control that we identify during our audit. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this raport, or for the opinions we have formed. Alison Henshaw FCCA (Statulory Auditor) For and on behalf of TORGERSENS Chartered Accountants & Statutory Auditor Easl Suite, Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ DateoLli£/zs 16-
KEY COMMUNITY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unrestricted Funds Restrlcted Funds Total 2025 Total 2024 Note INCOME Income and Endowments from: Donations 12.925 31,369 44.294 74,596 Charitable Activities 1.221.552 500,766 1,722.318 1.580.518 Investm8nts 41,260 41.260 21,771 Total Incoming Resources 1,275,737 532,135 1,807.872 1,676,885 EXPENDITURE Expenditure On: Raising Funds 2,804 Charitable Activities 1,137.741 570,140 1,707,881 1,583.281 Total 1,137,741 570,140 1,707,881 1.586.085 Net Incomingl(Outgolng) Resources 137,996 (38,005) 99,991 90.800 Transfers Between Funds 68.929 (68,929) NET MOVEMENT IN FUNDS 206.925 (106,934) 99,991 90,800 Total Funds Brought FoDNard 1.555.418 489,298 2.044.716 1.953,916 Total Funds Carried Forward 1.762.343 382,364 2.144,707 2,044,716 The statemént of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 20 to 32 form art of these financial statements
KEY COMMUNITY STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 MARCH 2025 2025 2024 Note FIXED ASSETS Tangible Fixed Assets 13 548,766 574,714 CURRENT ASSETS Debtors Cash at Bank and in Hand 14 265.348 1.441.835 479,921 1.092,421 1.707,183 1,572,342 CREDITORS: Amounts falllng due wlthln one year 15 (111,2421 {102.340) NEf CURRENT ASSETS 1.595,941 1,470,002 NET ASSErs 2.144,707 2,044,716 THE FUNDS OF THE CHARITY Restricted Income Funds Unrestricted Funds 17 18 382.364 1,762,343 489,298 1.555,418 2.144,707 2.044.716 The truslees acknowledge their responsibilities for: (i) ensuring that the charitable company keeps proper accounting records which comply with section 386 of the Act: and (li) preparing financial ststements which give a true and fair view of the slate of affairs of the charitsble company as at the end of the financial year and of its incoming resources and application of resources, including its surplus or deficit for the financial year in a¢¢ordance with the requirements of section 394 and 395, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charitable Company. These financial statements havè been prepared in accordance with the special provisions for small comp8nies under Part 15 of the Companies Acl 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. These financial statements were approved by the trustees on Luand are signed on their behalf by: P. Hayton l. Ogden Company number 05031398 The notes on pages 20 to 32 form part of these financial statements 18-
KEY COMMUNITY STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 2025 2024 Surplus for th• Year 99,991 90,800 Adjustm•nts For: Depreciation and tsngible fixed assels Interest receivable impainnent of 25,948 (41,260) 25.948 (21.771) Movement In Worklng Capital: {Increase)IDecrease in Debtors Increasel(Decrease) in Creditors 214.573 8,902 <149.191) (24,229) 223,475 (173,420) Cash Gen•rat•d from Operations 308,154 (78,443) Cash flow$ from Investlng actlvities Interest receivable 41,260 21,771 Investlng Actlvitles Purchase of Tangible Fixed Assets Net Increase in Cash and Cash Equivalents 349,414 (56.672) Cash and Cash Equlvalents at Beginning of Year 1,092,421 1.149.093 Cash and Cash Equlvalents at end of Year 1.441,835 1,092,421 Thè notes on pages 20 to 32 form part of these financial statements 19-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 General Information The company is a private company limited by guaranlee, registered in England and Wales, as well as being a registered Charity. The address of the registered office is 116 Baring Street, South Shields. Tyne & Wear. NE33 28A. statement of compliance These financial statements have been prepared in compliance with FRS 102, Yhe Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102}) and the Charities Act 2011. Accountlng Policies Basls of Accountlng These financial statements have been prepared under the historical cost convention and in accordance with: the Statement of Recommended Practice, "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)"; the special provisions of Part 15 of the Companies Act 2006 {'the 2006 Acr) relating to small companies. and FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. The financial statements are presented in sterling {£), which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest Tangible Flxed Assets All fixed assets are included at cost. Depreciation Depreciation is calculated to write down the cost, less estimated residual value of all tangible fixed assets over their expected useful lives. Properties are maintained to such a standard Ihat any depreciation is deemed to be immaterial. Motor Vehicles 20Yo Straight Line Incoming Resources All incoming resources are included in the statement of financial activities when the charity is entitled lo the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Voluntary income is received by way of grants, donations and gffts and is included in full in the statement of Financial Activities when receivable. Grants. where entitlement is not conditional on the delivery of a specific performance by the charity. are recognised when the charity becomes unconditionally entitled to the grant. Investment income is included when receivable. Resources Expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Charitable activty expenditure comprises those costs incurred by the charity in the delivery of its activilies and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated between the expenditure categories of the SOFA on a basis designated to reflect the use of the resource. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis. -20.
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Accountlng Poll¢les {ntInued) Going Concern There are no material uncertainties regarding the charity's ability to continue as a going concern. Flnanclal Instruments Financial instruments are classified and accounted for, according to the Substan of the contractual arrangement. as either financial assets. financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the charitable company after deducting all of its liabilities. Value Added Tax Value Added Tax is not recoverable by the charity and as such is included in the relevant costs in Ihe Statement of Financial Activities. Taxation Due to the (ximpany's charitable operations no corporation tax is payable on the results for the year. Fund of Accounting Funds held by the charity are.. Unrestricted general funds - th8S8 are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds - thes8 are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. Restricted funds - th8sè are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by Ihe donor or when funds are raised for particular réstricted purposes. Operatlng I$•$ Léase paymenls are recognised as an expense over the lease term on a straight-line basis. Thè aggregate benefit of lease inntiveS is recognised as a reduction to expense over thé leas8 lemi, on a straighl-line basis. Defined ¢ontrlbutlon plans Contributions to defined contribution plans are recognis8d as an expense in the period in which Ihe relaled setvice is provided. Prepaid contributions ar8 recognised as an assel to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are nol expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in Ihe period in which it arises. VOLUNTARY INCOME- DONATIONS AND GRANTS Unrestricted Funds Restrlcted Funds Total 2025 Total 2024 Donations - General - Food Bank - Great North Run - BUS Project Corporate Gift Aid Feeding Britain 12.925 12.925 25.906 12.642 38,413 501 22.399 500 141 25,906 5.463 5,463 Income from donations in 2024 was £74,596 of which £13.784 was unrestricted and £60.812 was restricled. -21
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 INCOME FROM CHARITABLE ACTivrriES Unrestrictrd Funds Restricted Funds Total 2025 Total 2024 Anson Close Income Askins Lodge- Income Askins Lodge Services Askins Cottages Dispersed Properties - Income Flavia House Healon Gardens Hedley Close strickland House Income Trinity Walk 116 Baring Street - Rent from flat Baring Street- Rent from desks Accommodation grant Act 435 Ballinger Grant BUS Project - Community Foundalion Consortium Community Foundation Community Foundation - Outreach Charities Trust- Nationwide Family Intervention BBC Children In Need Food Bank- Grants Greggs Henry Smith Karbon Homes Leathersellers Leeds Building Society LGA Mercers South Tyneside Council - Jarrow Unit South Tyneside Council - ILAC South Tyneside Council - Grant SMP Recovered 21.319 559.727 21,319 559,727 57,972 19,706 518.744 53.264 Commissioned 57,972 165.689 83.110 146.981 21,345 21,345 118,757 21,115 22,728 165,689 83,110 146.981 21.345 21.345 118.757 21.115 22.728 159.189 78.803 130.283 19,640 19,635 103,062 14,348 20.906 137 48,111 1,780 20,000 63,640 101,896 15,917 500 7.305 33,180 52,263 1,700 52.263 1.700 20,000 95,042 110,690 1,000 5,032 20,000 95,042 110,690 1.000 5,032 8,333 8,333 12.013 12,013 20.800 50.600 5,364 76,434 20.800 50.600 33,050 5,364 15,000 23,334 23,334 10,000 35.000 15,000 35.000 15.000 1.059 25,000 8,000 1,059 25.000 7,988 Income from charitable activities in 2024 was made up of unrestricted funds of £1.159.842 and restricted funds of £420.676. -22-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 INVESTMENT INCOME 2025 2024 Cash investments held in the UK Investment income in both 2025 and 2024 was unrestricted. EXPENDITURE ON RAISING FUNDS Unrestrl¢ted Funds Restricted Funds Total 2025 Total 2024 Advertising, marketing and development Other fund raising costs 2.780 24 Expenditure on raising funds in 2024 was £Nil restricted and £2,804 unrestricted. -23-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 EXPENDrruRE ON CHARITABLE ACTIVITIES Unrèstrleted Restrlded Funds Funds Total 2025 Total 2024 Anson Close Askins Lodge Askins Lodge- Commissioned SeNices Askins Cottages Dispersed properties Flavia House Heaton Gardens Hedley Close Strickland Hous 116 Baring Street- flat costs Trinity Walk Voids Bad debts wrote off Accommodation managers Act 435 Bank charges Baring Street- running costs BUS Project Communications Community Foundation - Salary costs Client Involvement Charitl8s Trust- Nationwide Family Inteention - salary costs Family InteNention - BBC Children in Need Food Bank- Consumables Advertising Salary and costs Rent Equipment -van Volunteer expanses Cleaning Project Costs Office Supplies Govemance cost HR Insurance IT Outreach Projects - salaries and costs Jarrow Unit staff costs (employed and other workers) - Consortium 19,025 437.614 52.914 77.751 52.190 109.885 12,263 11.172 92.282 11,716 14,697 18,484 71.339 19.025 498.268 52.914 77.751 52.190 109,885 12.263 11.172 92.282 11.716 14.697 18,484 71.339 52,924 1,697 2,441 3,238 107,064 2,447 14,315 496.454 43.069 90.118 56,734 97.373 14.150 11,942 84,960 10,980 12,956 9,902 53,261 46.720 2,106 2,284 7.885 91,759 2.028 19,996 73 11,917 26.580 32,820 11,845 160 35,393 8,800 60.654 52.924 1,697 2,441 3,238 25,948 2,447 81,116 5,299 102.653 15,394 7,421 164 16,329 7,500 107,952 15.394 7,421 164 16.329 7,500 13 2.501 402 1,329 13 2,501 402 1,329 2.166 665 950 4,940 1.218 7.240 4.553 15.628 16.704 5,958 102,830 9,443 22.188 85,603 4,745 1.870 621 621 16.928 7.048 18.428 16.652 3.804 96.563 13.580 29.101 127,792 4.058 2.504 16,928 7,048 18,428 16,652 3,804 18,500 78.063 13,580 29.101 127.792 Training Travel 4.058 2.504 Total Resources Expended 57 .24.
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 EXPENDITURE ON CHARITABLE ACTIVITIES (contlnued) Expenditure on charitable activities in 2024 was made up of £1,175.240 unrestricted and £408.041 réstricted funds. Costs are allocated. where possible, directly to the project concerned. Where this is not possible the management committee have decided upon a basis which they consider appropriate. NET INCOMING RESOURCES FOR THE YEAR Total 2025 Total 2024 This is stated after charglng the following: Governance costs 10. STAFF COSTS AND NUMBERS 2025 2024 Staff costs (employed only) comprlse: Salaries Employers Nl contributions Pension costs 871,387 74,120 40,233 762.294 57,901 28.749 The figures for pension costs referred to above relate to KEY'S contribution to Staff Pension Schemes. Two members of staff are in Stakeholder Pension Scheme and the remainder are in an aulo enrolment scheme. 2025 2024 The average number of persons employed by the trusl was as follows: Manag8ment and Administrative Charitable Activities 28 26 The number of employees whose remuneration for the year fell within the following bands. were: 2025 No. 2024 No. £60,000 to £69,999 £70,000 to £79,999 £80,000 to £89,000 £90,000 to £99,000 Key Management Personnel Key management personnel comprise of one employee that has authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation costs in respect of key management personnel for services provided to the charity was £94.751 (2024: £82,710). 11. TRUSTEES REMUNERATION AND RELATED PARTY TRANSACTIONS No members of the Trustees received any remuneration during the year {2024: £Nil) Travel and other costs of £nil {2024: £Nil) were reimbursed. No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2024: £Nil). -25-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 12. TAXATION As a charity. Key Community is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. 13. FIXED ASSETS - Tangible Assets Motor Strickland Heaton Vehicle House Garden5 Hedley 116 Baring Trinity Closo Street Walk Total Cost At 1 April 2024 Additions At 31 March 2025 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024 129.741 205.357 31.906 30,908 165,515 37.237 600,662 129741 205 357 165515 37237 600662 25,948 25.948 14. Debtors 2025 2024 Amounts due from consortium Housing benefit due Service charges due (Xher debtors and prepayments 25,473 376,230 27,432 50.786 204.915 16.425 44,008 15. Creditors: Amounts Falllng due wlthln one Year 2025 2024 Other credrtors, accruals and deferred income 111.242 102,340 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Funds Designated Rèstrlcted Funds Funds Total Funds Tangible fixed assets Current assets Current liabilities 548,766 1,141,832 548,766 1,707,183 (111.242) 182.452 (110.707) 382,899 {535) Net Assets at 31 March 2025 82 1690 598 64 -26.
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)- previous year General Deslgnaled Restricted Funds Funds Funds Total Funds Tangible fixed assets Current assets Current liabilities 574.714 990,536 574,714 489.529 1.572,342 (231) (102,340) 489.298 2.044,716 92,277 (102,109) (9.832) 1.565,250 Net Assets at 31 March 2024 17. ANALYSIS OF RESTRICTED FUND MOVEMENTS At 1 Aprll 2024 Incoming Outgoing Transfers At 31 March 2025 Accommodation Grant Act 435 Awards for All Ballinger Grant Bursary Fund BUS Project Charities Trusl - Nationwide Clothing Fund Community Foundation - Outreach Community Foundation - Rising Slars Consortium Family Intervention Family Intervention (BBC CIN) Food Banklsupport packs - funding Jarrow Unit Greggs Lealhersellers Leeds Building Society Mercers Places for People Propety Purchase Grants South Tyneside Council Young People's Activities 2,498 686 2,443 27,344 420 60,491 25,883 52,263 (52,924) 1.700 (1,6971 (1.614) 223 689 {2.443) (27,344) 420 74.416 13,383 847 5,069 95,041 (81,116) (36,464) 23,964 2,683 5,032 {2,646) 19,896 52,516 26,443 (15,918) 110,690 (127,792) 50,600 (56,750) 16.801 8,333 (15,394) 7,061 31,370 (19,138) (43,907) 15.000 (13,580) (1,420) 20,800 (17.129) (8,315) (5,000) 15,000 23,334 (11.599) 35,000 (29,985) 57,972 (60,654> (3,978) 35,414 37,094 198,758 167,083 8,315 3,671 10.000 11,735 14,963 3,765 1.452 7,486 2,462 6,447 1,452 48,997 2,140 489,298 25,000 (25.000) (48,997) 2.140 532.135 {570.140) (68,929) 382,364 The transfers of £68,929 represents overspend funded by unreslricted monies and brought forward balances being spent in prior years took from unrestricted funds. -27-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 17. ANALYSIS OF RESTRICTED FUND MOVEMENTS (continued)- previous year Al 1 April 2023 Incoming Outgoing Transfers At 31 March 2024 Accommodation Grant Act 435 Awards for All Ballinger Grant Bursary Fund BUS Project Charities Trust- Nationwide Clothing Fund Community Foundation Community Foundation - Outreach Community Foundation - Rising Stars Consortium Family Intervention Food Banklsupport packs - fvjnding Jarrow Unit Leathersellers LGA 1,107 1,012 2,443 15,012 420 40,263 30,495 48,111 (46.720) 1,780 (2,106) 2.498 686 2.443 27,344 420 60,491 25,883 20,000 {7,668) 86,039 (65,811) 7,305 (11,917> 1,666 2,256 15,917 (19,996) 500 (73) 2,413 2,683 19.896 36,223 19,613 208,218 19,896 52,516 26,443 256,070 101,896 (85,603) 66,230 (59,400) 100,710 (52,858) 8,000 (9.443) 15,000 (15.100) 10,000 (10.050) (21,296 1.443 100 50 Mercers Property Purchase Grants Young People's Activities 28.782 1.452 2,140 7,486 1,452 2,140 489,298 411,845 481,488 (408,041) 4,006 -28-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 17. ANALYSIS OF RESTRICTED FUND MOVEMENTS (contlnued) AcLommodation grants Represents funding received towards working with young people experiencing poverty and disadvantsge. Act 435 This repres8nts donations received to give to individuals in hardship. ACT 435 is an online charity, directly connecting those who want to give to those who are in genuine need of their help through local church networks. Awards for All - Represents funding received in the prior year lowards salary and office costs. Ballinger Grant- KEY receives an annual grant award of £15.000 to help with KEY'S activities. Bursary Fund - This is money KEY gives to young people as a bursary to help them overcom8 employment, education. and training barriers. BUS Project - Funds were received from Community Foundatlon and Feeding Britain towards the salary of a project lead and bus running costs. Charities Trusl - Nationwide - Represents funds received towards tenancy retention. Clothing Fund This is money KEY collected previously from selling donated items on eBay and at cash for cloth8s towards KEY projects. Community Foundation Represents funds received from Growih and Resilience Fund towards infraslructure investment post supporting the development of KEY'S new servic88 In the prior year. This year fvnds were received towards employablllty support. Community Foundation Rising Stars Funds received in the prior year towards supporting disadvantaged young people in Soulh Tyneside to reach their potential. Community Foundation - Outreach - Represents a grant received for home resettlement packs for young people moving into independent living in South Tyneside. Consortium This represents funding received for costs including the commissioned contract with South Tyneside Council in partnership with D8Paul UK and Places for People, Family Intervention Funds were received from The Henry Smith Charity and BBC Children in Need towards a mediation and intervention post for 3 years. Food Banklsupport packs is funds KEY receives for the KEY2Lrfe Food Bank. Funds in 2024125 wèrè reiVed in form of donations and grants from South Tyneside Council, In 2023124 grants were also reiVed from Feeding Britain, The Neighbourly Foundation, Sir James Knott and Community Foundation. Greggs- Funds awarded to a young person from hardship fund in the prior year. Jarrow unit - Represents funding received from the council lowards a unit to hold suppliers for the food bus. Lealhersellers - Salaries for prevention and mediation team. Leeds Building Society To support tenancy breakdown pr8vention and retainment as part of the resettlement team. LGA - Represents a contribution received to the mental health and wellbeing provision. Mercers - Grant award towards the annual salary costs of a second Family InteNention Officer post. .29-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 17. ANALYSIS OF RESTRICTED FUND MOVEMENTS (contlnued) Places for People - To support work with individuals with higher needs in supported accommodation. Property Purchase Grants - Represents grants received towards the purchase of flats. In 2019120 KEY received £40,000 from Clothworkers. Previously £37,237 was transferred to designated funds to fund the purchase of the Trinty Walk property. South Tyneside Council - To support Flavia and Strickland, the Jarrow Unit and £20,000 allocations for service delivery in prevention of povety. Young People's Activities- Represents grant funding received lo run young people's activltles. 18. MOVEMENT IN FUNDS At Incoming Aprfl Resources 2024 Outgolng Resources Transfers At 31 March 2025 Restricted funds Charity activities 489.298 532.135 (570,140) (68.929) 382.364 Unrestricted funds General funds Designated funds (9.832) 1,565.250 1,275,737 (1.111,793) (25.948) (82.367) 151.296 71,745 1,690,598 Total Unrestricted funds 1.555.418 1,275,737 (1,137.741) 68,929 1,762,343 Total Funds -30-
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 18. "MOVEMENT IN FUNDS (¢ontlnued) - previous year At Incomlng 1 Aprll Resources 2023 Outgolng Transfers At 31 March Résource 2024 Restricted funds Charily activities 411,845 481.488 (408,041) 4.006 489,298 Unrestrlctsd funds General funds Designated funds 32,579 1,509,492 1.195.397 (1,152,096) (85,712) (25,948) 81,706 {9,832) 1,565,250 Totsl Unrestricted funds 1,542,071 1.195.397 (1,178,044) 14.006) 1,555,418 Total Funds Purposes of Restrl¢t•d Funds: Charity activities.. The funding enables support to be given to young people experiencing hardship in South Tyneside to allow them to live independenl and successful lives. General Funds: Funds available for the charitable company to use for the purposes of the charitable company without restriction. Designated Funds: The Trustees have decided that a designated reserve within unrestricted funds should cover operating costs for 6 months and redundancy costs should funding cease as well as reflect the value of all assets and any major works rèquired. Based on a "draft cash flow" for the year to 31 March 2026, six months expenditure was deemed to be £946.881 (2024: £840,261). Therefore. the transfer required for the year is £106,620. In addition. a further amount of £26.660 is being designaled for potential redundancy payments bringing the provision at the ye8r end to £167,416 (2024: £140,816). Included in the designated funds are amounts towards the major repairs fund £27,535 (2024: £9.459). The transfer in the year of £18.076 represents an annual transfer in the year of £30,000 less expenses on decorating and flooring incurred in the year totalling £11,924. Based on the above, the transfer required for 31st March 2025 is £151,296. Furthermore, funds have been designated towards fed assets which r8pres8nts the value of 811 assets purchased by KEY Community as shown in note 13 of £548.766 (2024: £574,714). Expenditure in the year of £25.948 reflects the depreciatlon on the bus. 31
KEY COMMUNITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS {contlnued) This means that the unrestricted funds shown above should be allocated as: Major repairs fund Property fund Redundancy payments- as at 31 March 2024 Designated funds for 6 months expenditure 27.535 548.766 167.416 946.881 19. ANALYSIS OF CHANGES IN DEBT At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand 20. OPERATING LEASE COMMITMENTS The total future minimum lease payments under non-cancellable operating leases are as follows: 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years Due in more than 5 years 55,238 4,829 55,438 14.431 193 21. RELATED PARTIES During Ihe year, the charitable company continued to work in partnership with De Paul and Places for People who are members of th8 South Tyneside Consortium with KEY Community. Income for Ihe year from De Paul was £110,690 (2024: £101,896). The amounts outstanding from De Paul at the year end were £Nil (2024: £25,474). Income for the year from Places for People was £57.972 (2024: £53,264). The amounts outstanding from Places for People at the year end were £14.465 (2024: £12,428). Churches Together South Tyneside who partner with KEY to run the Key2Lrfe Foodbank is also considered a related party. Income from Churches Together in the current year was £nil (2024: £nil). There were no outstanding balances at the year end (2024: £nil). 22. COMPANY LIMITED BY GUARANTEE The legal status of the Trust is that of a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £10. .32-