Charity no. 1152426 Key4Life CIO Report and Unaudited Financial Statements 31 December 2025
Key4Life CIO Reference and administrative details For the ear ended 31 Deeember 2025 Charity number 1152426 Registered office and operational address Units 65 - 66 Easton Business Centre Felix Road Easton Bristol BS5 OHE Trustees The Iruslees who served during the year and up lo the date of this report were as follows". Paul Slernberg Kathryn Brewer Solomon Curtis Caroline Dollimore Michael Dooley Walid Yusef Haddou¢h Lindsay Healy (Chairl Chief executive officer Eva Hamilton MBE Bankers TSB Bank Marketplace Somerton Somersel TA11 7NB Sollcltors Murray Hughman 1 Long Lane London SE1 4PG Independent examiners Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS14QD
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practi - Accounting and Reporting by Charities leffeclive from January 20191. Objectives and aetivities The ob'ecls of the charil are.. to reduce criminal offending by promoting and supporting the rehabilitation of any offender and those at risk of offending or re-offending, and lo assist them in finding employment., to promote the education, care and re-settlement of offenders In order to re-integrate them as valued members of society., to support families of offenders and communities affected by offending., to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them lo integrate into society., and to promote social inclusion for the public benefit amongst people who are socially excluded by providing them with an opportunity to build capacity through education and training support. Key4Life delivers support to young men aged 18-30 as the group most likely lo re-offend, predominanuy prolific offenders. Key4Life's purpose is to support these young men from marginalised communities, who, for whatever reason, have committed an offence or are at risk of offending, lo give them opportunities, skills and support to lead positive lives and integrate into the world of work, their communities and families. Key4Life also works with children under 18 at risk of being caught up in knife crime. In 2025 Key4Life has.. In 2025, Key4Life delivered a lotsl of 12 programmes, supporting 251 young men across custodial and community settings alongside 75 further alumni men from previous programmes. Delivery took place in prisons including HMP Thameside. HMP Erle$toke, HMP Forest Bank, and HMP Fosse Way, alongside preventative London At Risk and South West At Risk programmes. Key4Life continued its work with prolific offenders, outcomes remained strong, with over 60°h of released participants progressing into Employment, Education or Training IEETI and reoffending al 8 /0. Programme delivery Increasingly focused on strengthening pre-release preparation and post-release support. Vlolence Reductlon Pro ramme In 2025, Key4Life developed its first Violence Reduction Programme, an 34ay intensive early- intervention initiative designed to reduce violence and support long-lerm desislance among young men at the beginning of their custodial sentences. Delivered at HMP Fosse Way, the programme draws on a shortened version of Key4Life's evidence-based 7-Step Model, combining experiential learning, mentoring, and emotional resilience development. Independent research conducted by London Metropolitan University demonstrated significant impact, including improved emotional regulation, reduced impulsivity and aggression, stronger communication skills, and the adoption of a prosocial identity characlerised by responsibility, empathy, and hope for the future. Participants reported increased confidence and motivation, while prison staff observed calmer wings, reduced conflict, and improved relationships.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 A distinctive feature of the programme is the involvement of Key Mentors with lived experience, reinforcing peer-led change and contributing lo safer prison environments. The Violence Reduction Programme represents a cost-effeclive, scalable model aligned with national priorities on prison safety and rehabilitation. Ke Mentorin Key Mentoring exceeded all funder targets in 2025 and continued to demonstrate strong impact. Against a target of training 50 men as Key Mentors, Key4Life successfully trained 60 men during the year and employed over 10, significantly surpassing agreed delThierables. Key Mentor training was delivered across both prison-based and community programmes, with trained Key Mentors playing an active role in programme delivery, peer support, and engagement-particularly within the Violence Reduction Programme. This peer-led approach strengthened programme credibility, enhanced participant engagement, and reinforced Key4Life's trauma-informed, relational model. Cor orate En ement Corporate engagement continued to strengthen throughout 2025, with progress made in both expanding the employer neOrk and deepening existing partnerships. During the year, 60 new companles actively engaged with Key4Life, primarily through 'Meet the Companies" and "Dragons, Den" workshops delivered within prison and community programmes. These engagements supported employability outcomes, mentoring opportunities, and longer-term partnership discussions. Key4Life also made significant progress with established partners, including major employers across professional services, manufacturing, retail, media, and hospitality. Several organisalions advanced toward offering work tasters. internships, employment pathways, mentoring. and volunteering, while others expressed interest in structured, longer-term partnerships and funding opportunities. 2025 saw Key4Life award the YOUNITED Flag at our Gala Dinner with Wagamama, KPMG and NBCUniversal being awarded this kitemark. Mentorin Mentoring remained a central pillar of Key4Life's delivery model in 2025, SUPF)Orting sustained engagement and positive outcomes for participants. By the end of the year, Key4Life had over 110 engaged mentors actively involved al various stages of their mentoring journey, with many mentors progressing lo support participants for a second time. The mentoring community reflected a diverse mix of backgrounds, including professionals, retirees, and individuals with lived experience of the criminal justice system.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 Food Cell The burger venture was ereated by the Winter Family in memory of their son Jack Winter who sadly lost his life lo cancer in 2018. The Food Cell aims to help the men that are currendy on the programme to gain experien and paid work in customer service, communication and to gain valuable business skills. In addition, the men received Level 1 and Level 2 in Food Safety and Hygiene. This proved lo be an Invaluable springboard the young men who have gone on to work in hospitslily and catering amongst other sectors. In 2025, Key4Life hosted more than 10 pop-up events with the Food Cell and we hope to reach more events in 2026. Achievements and perfomiance Charitable activities In 2025 Key4Life delivered a total of 12 pr(raMeS to 191 young people wth a further 60 Key Mentors being trained taking the totsl to 251. This lolal includes the prison and preventative work. A list of programmes is below.. Pro ramme London At Risk programme Soulhwesl Al Risk programme HMP Forest Bank (Key Mentor Training) HMP Fosse Way I0 Violen reduction programmes and one Key Mentor programmel HMP Thameside (three 'lhrough the gate, progmmmes and two Key Mentors programmesl HMP Edesloke Taster Programme Number of artici 16 14 30 ants 105 18 Fundraising activities Key4Life predominantly receives income from grant making trust5, organisalions and Individual donors. Fundraising from the public is not a core strategy of the Charity. We do not engage in large scale public fundraising campaigns or from street, d(x)r-to-door and private site fundraising ahOugh we do welcome gifts from individuals and philanthropists on both an ad hoc and regular basis. In 2025 we held our Gala Dinner with Dave Finnegan's Commitments performing and the event raised in excess of £70,000. Key4Life does work with commercial participators or third-party professional fundmisers for any public facing fundraising campaigns. We would like lo express our sincere thanks to every trust, individual and business who has financially supported Key4Life over the past year. Your support makes our life changing work possible. The Trustees have tsken due consideration of the Charity's financial resilience, liquidity position, and forecast cash flows when making strategic and operational decisions throughout the year, with an increased focus on SLJStainability, impact measurement, and long-lerm financial resilience.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 Research Robust, independent research continues lo underpin Key4Life's work, and our results have strengthened with the average reoffending rale amongst Key4Life participants for 2025 being 80/0 after one year and with over 600/0 seeuring work, training or meaningful occupation. While important, evidence indicates employment by itself d5 not break the cycle of reoffending. Bean Researeh has worked with Key4Life and has developed an approach centred on underlying emotional change where it has been found that sustsinable outcomes depend not only on OPFlOrtunity, but on psychological stability alongside practical resettlement SLJPPOrt. In 2025, Bean Research supported the delivery of the established Theory of Change and research framework, conducting evaluation al both the stsrt and end of programmes. Evaluation activity combined quanlitalive self-assessment measures lo track participants distance travelled" with qualitative feedback capturing changes in emotional resilience, conflict management, relationships, and employability confidence. Key indicators assessed included emotional regulation, avoidance of violence, development of pro-social relationships, and readiness for employment. Working in custody enables individuals to process experiences, strengthen emotional resilience and increase internal locus of control. Key4Life Programme evidence consistently shows substantial improvements in these areas, often doubling baseline scores. 2025 also saw Independent qualitative research conducted by London Metropolitan University providing strong evidence that Key4Life's programme at HMP Fosse Way delivers meaningful and lasting impact for participants and contributes positively to prison culture. Based on interviews and observations involving 46 men (including prisoners, Key Mentors and men post-releasel, the research showed that the programme supported desistance from Crime by helping participants develop prosocial identities, improved emotional resilience, stronger relationships, and increased confidence and employability. A dislinclive strength of Key4Life was found to be ils peer mentoring model, where programme graduates become Key Mentors. This reinforces positive change for mentors themselves while spreading constructive behaviours across the prison, contributing to reduced violence, improved safety, and a more rehabilitative environmenL The research concluded that Key4Life represents an effective, evidence-based and scalable rehabilitation model. aligning closely with public policy priorities on reducing reoffending, improving prison safety, and supporting successful reintegration into society.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 Developments for 2026 In 2026, Key4Life will foeus on the continued expansion of its prison-based delThiery, building on strong partnerships lo increase reach and impact. Our collaboration with Se0 and Sodexo will enable the charity lo scale delivery of ils proven 7-Step Model across additional custodial settings, supporting more young men at critical stages of their sentence. In 2026, Key4Life will work on our Violence Reduction Programme to further deliver this work lo reduce violence in prisons and stabilise wings. We will also continue lo deliver our 'through the gate, work alongside our new training programme for prison staff. The 7-Step Model will remain ntral to our work, consislenlly demonstrating strong outcomes in reducing reoffending and increasing progression into employment, education, and training for some of the most marginalised young men in society. As we scale, maintaining programme quality and fidelity will remain a key priority. Alongside delivery, strengthening engagement with the corporate sector will be a major focus. Key4Life will continue to challenge employer perceptions of people with convictions and expand access to meaningful employment opportunities. In 2026, the YOUNITED Flag will be awarded to an increasing number of employers nationwide, recognising their commitment to inclusive recruitment practices and supporting long-term rehabilitation and social mobility. Financial review Financial osilion These financial statements show the results from twelve months of activity and the comparative figures report on results from a e1Ve-Month period. The charity does not hold any investments. The principal funding sources for the charity are Trusts and Foundations, Corporate Partnerships, along with revenue from our extensive delivery in the prison sector. In 2025 Key4Life generated a surplus of £23,414 in reslricled funds. The overall deficit for the year stands at £44,074. Reserves olic Reserves are provided to ensure the financial stability of the charity and the ability for it to meet ils charitable objectives for the foreseeable future. The movement in the reserves is shown in note 17 10 the accounts. Key4Life will maintain an unrestricted reserves al a level that is at least equivalent lo Iwo months operational expenditure, currenuy calculated at £135,000. The current unreslricled reserves are £100,658. The Iruslees review the amount of reserves that are required to ensure they are adequate to fulfil the charity's continuing obligations al their board meetings.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 Our financial slalements show a lolal income of £798,726 for the year ended 31 December 2025 with a deficit for the year across all funds of £44,074. The balance sheet al 31 December 2025 shows total funds carried forward of £641,279, with £496,856 being restricted and specifically allocated to our programmes. Future Plans The Trustees have continued to regulady review and update their governance arrangements in light of new legislation and the growih in staff numbers. The organisalion is in a good position to continue ils development and is well placed to make the most of the opportunities available to reduce criminal offending and benefit society. Structure. governance and management The Charity is controlled by ils governing document, the Association Conslitulion, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The financial slalements comply wth the Charits'es Act 2011, the Companies Act 2006, the Association Constitution, and Accounting and Reporting by Charities". Statement of Recommended Practice, applicable lo charities preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS102 section 1 Al. The Iruslees confirm that in compiling this report they have had due regard to the guidance on public benefit issued by the Charity Commission in compliance with the duty sel out in section 17151 of the Charities Act 2011. Recruitment and appointment of new trustees and oryanisational structure Trustees are appointed for their professional expertise and can serve more than one term. A term is defined as five years. Interested possible new trustees are required lo attend Trustee Meetings lo meet the team and become familiar with the governance requirements before being considered for any vacant positions. Trustees are appointed for their professional expertise and can serve more than one lemi. A term is defined as five years. Interested possible new trustees are required lo attend Trustee Meetings lo meet the team and become familiar wth the governance requirements before being considered for any vacant positions. Eva Hamilton MBE is the Founder and Chief Executive of Key4Life, responsible for the day-lo-day running of the charity. The Board of Trustees meet quartedy and deal with the administration of the charity encompassing the strategic vision, financial accountsbility and risk management. The Trustees. meetings also include the AGM. The operational management of the organisation is undertaken by the paid staff team.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 Risk management The Trustees have conducted a review of the major risks to which the charity is exposed, and systems have been established lo miligale those risks including the implemenlalion of procedures for aulhorisalion of all transactions and projects and for ensuring the consislenl quality of the delivery of all operational aspects of the charitable company. These procedures are periodically reviewed lo ensure that they still meet the needs of the charity. Key management remuneration Key4Life's remuneration policy is designed to ensure the organisation continues to be a leading charity within the rehabilitation sector, providing high quality services for young offenders and those at risk of offending. This includes ensLJring remuneration levels are sufficient both to attract high calibre staff and maintain our human resource across the organisation. Key4Life is committed lo pay being aligned lo performance, while ensuring that we are able to attract and retain employees critical to delivering our strategy. The remuneration of members of the Senior Management Team is determined by the Board of Trustees. In addition, Key4Life is committed to pay the minimum hourly rates recommended by the Living Wage Foundation. Statement of responsibilities of the trustees The Iruslees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102". The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the Iruslees to prepare financial statements for each financial year, which give a true and fair view of the slate of affairs of the charity and the incoming resources and application of resourTrs, including the net income or expenditure, of the charity for the year. In preparing those financial ststemenls the Iruslees are required to.. select suitsble accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and accounting eslimales that are reasonable and prudent., stste whether applicable accounting stsndards and slalements of recommended practice have been followed, subject lo any material departures disclosed and explained in the financial slatemenls., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and which enable them to ensu that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularib'es.
Key4Life CIO Report of the trustees For the gar ended 31 Docomber 2025 The Iruslees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in olherjurisdictions. Members of the charity are not required lo contribute lo the assets of the charity in the event of winding up. The Iruslees are members of the charity bul this entitles them only to voting rights. The trustees have no beneficial Interest in the charity. Independent examlners Godfrey Wilson Limited were re-appointed as independent examiners lo the charity during the year and have expressed their willingness to continue in that capacity. Approved by the trustees on 26 May 2026 and signed on their behalf by Paul Sternberg - Chair
Independent examiner's report To the trustees of Ke 4Life CIO I report lo the trustees on my examination of the accounts of Key4Life CIO {Ihe CIO) for the year ended 31 December 2025, which are sel out on pages 11 to 27. Responsibilities and basis of report As the charity trustees of the CIO you are responsible for the preparab'on of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the CIO'S a¢¢ounts Carried out under se¢lion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Indopgndont examiner's statement Since the CIO'S gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualifi'ed lo undertake the examination because I am a member of the Institute of Chartered Accounlanls in England and Wales IICAEWI, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect." 111 accounting records were not kept in respect of the CIO as required by section 130 of the Act,. or 121 the accounts do not accord with those records", or 131 the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Date.. 26 May 2026 Jennifer Dickinson ACA Member of the ICAEW For and on behalf of". Godfrey Wilson Limited Chartered accounlanls and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS14QD 10
Key4Life CIO ststement of financial activities Forthe ear ended 31 December 2025 2025 Total 2024 Total Restricted Unrestricted Note Income from: Donations Charitable activities Other trading activities Investments 17,093 4 520,617 163,221 83,158 6,338 8,299 180,314 603.775 6,338 8,299 100,455 674,890 8,176 7,080 Total income 537,710 261,016 798,726 790,601 Expenditure on: Raising funds Charitable activities 169,919 158,585 169.919 672,881 97,021 736,047 514,296 Total expendlture 7 514,296 328,504 842,800 833,068 Net income I lexpenditurel and net movement in funds 23,414 167,4881 144,0741 {42,4671 Reconciliation of funds: Total funds brought forward 473,442 211,911 685.353 727,820 Total funds Carrled forward 496,856 144,423 641,279 685,353 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those staled above. Movements in funds are disclosed in note 17 to the accounts.
Key4Life CIO Balance sheet As at 31 December 2025 2025 2024 Note Fixed assets Tangible assets Intangible assets 11 12 25,194 43.999 34,014 43,999 69,193 78,013 Current assets Stocks Debtors Cash at bank and in hand 13 14 386 89,709 507.419 386 81,073 558,623 597.514 640,082 Liabilities Creditors.. amounts falling due within 1 year 15 25,428 32,742 Net current assets 572,086 607,340 Total assets less current liabilities 641.279 685,353 Net assets 16 641,279 685,353 Funds Restricted funds Unreslricled funds General funds 17 496,856 473,442 144,423 211,911 Total charity funds 641,279 685,353 Approved by the trustees on 26 May 2026 and signed on their behalf by Paul Sternberg - Chair 12
Key4Life CIO Statement of Cash flows For the ear ended 31 December 2025 2025 2024 Cash used in operating activitios: Net Movement in funds 144,0741 142,4671 Adjustments for.. Depreciation charges Dividends, interest and rents from investments Decrease in stock Ilncreasel I decrease in debtors Decrease in creditors 8,820 {8.2991 9.449 17,0801 1,114 68,220 6,224 {8.636) 7,314 Net cash provided by I (used inl operating activities 59,503 23,012 Cash flows from investing activities.. Dividends, interest and rents from Investments Purchase of tangible fi'xed assets 8.299 7,080 1,588 Net cash provided by investing activities 8,299 5,492 Increase I Idecreasel in cash and cash equivalents in the year 151.2041 28,504 Cash and cash equivalents at the beginning of the year 558.623 530,119 Cash and cash equlvalents at the end of the year 507,419 558,623 The charity has not provided an analysis of changes in nel debt as il does not have any long term financing arrangements. 13
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Accounting policies al General infomiation and basis of preparation Key4Life CIO is charitable incorporated organisation registered in England and Wales. The registered Offi address is Units 65 - 66, Easton Business Centre, Felix Road, Easton, Bristol, BS5 OHE. The financial statements have been prepared in accordance with Accounting and ReFlOrting by Charities.. Stslemenl of Recommended Practice applicable lo charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191- (Charities SORP IFRS 1021}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Key4Life CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy note. bl Going concem basis of accounting The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the Iruslees consider appropriate having regard lo the current level of unrestricted reserves. There are no material uncertainties about the charity's ability lo continue as a going concern. cl Income Income is recognised when the charity has enlillement to the funds, any performance conditions attached to the item of income have been met, il is probable that the income will be reiVed and the amount can be measured reliably. Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the Charity has entitlement to the funds. any performance conditions attached to the grants have been mel, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Contract income is recognised when the associated goods or services have been delivered. dl Donated services and facilities Donated professional services and donated facilits'es are recognised as income when the charity has control over the item, any conditions associated with the donated item have been mel, the reTript of economic benefit from the use by the charity of the Item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, general volunteer lime is not recognised. On receipt, donated professional service5 and donated facilities are recognised on the basis of the value of the gift lo the charity which is the amount the charity would have been willing lo pay to obtain services or facilities of equivalent economic benefit on the open market., a corresponding amount is then recognised in expenditure in the period of receipt. el Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity.. this is normally upon notification of the interest paid or payable by the bank. 14
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Accounting policies Icontinuedl f) Funds accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are lo be solely used for parbcular areas of the charity's work or for specific projects being undertaken by the charity. gl Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment lo a third paty, il is probable that settlement will be required and the amount of the obligation can be measured reliably. h) Allocation of support and governance costs Support costs are those functions thst assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the Strat1¢ management of the charity's activities. These costs have been allocated beeen cost of raising funds and expenditure on charitsble activities based on the proportion of staff time occupied by each activity as follows.. 2025 2024 Raising funds Charitable activities 510 95/0 959/0 il Tangible fixed assets Depreciation is pmvided at rates calculated to write down the cost of each asset lo ils eslimaled residual value over its expected useful life. The depreciation rates in use are as follows.. Computer equipment Motor vehicles Fixtures and fittings 15 /0 Straight line 200/0 reducing balance 10.kn straight line Items of equipment are eapitalised where the purchase price exceeds £500. jl Intangible fixed assets Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the Carying value of an asset may not be fully recoverable. Amortisation rates are yel to be calculated as all intsngible assets are currently under development and are not ready for use. kl Stock Stock is included al the lower of cost or net realisable value. Donated items of stock are recognised al fair value which is the amount the charity would have been willing to pay for the items on the open market. 11 Debtors Tode and other debtors are recognised at the settlement amount due after any trade dIunt offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 15
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Accounting policies Icontinuedl ml Cash at bank and in hand Cash at bank and cash in hand Includes cash and short term highly liquid investments with a short Maturity of three months or less from the date of acquisition or opening of the deposit or similar account. n) Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowng for any trade discounts due. ol Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effecb've interest method. pl Pension costs The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA. ql Foreign eurrency transactions Tonsaclions in foreign currencies are translated al rates prevailing at the dale of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing al the year end. rl Accounting estimates and key judgements In the application of the charity's accounting policie5, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experien and other factors that are considered lo be relevant. Actual results may differ from these estimates. The eslimales and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future peri(8. The key sources of eslimalion uncertainty that have a significant effect on the amounts recognised in the financial slalements are accrued income, depreciation and amortisalion as described In notes cl, il and Il respectively above. 16
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Prior period comparatives.. statement of financial activities 2024 Total Restricted Unrestricted Income from: Donations Charitable activities Other trading activities Investments 51,803 643,890 48,652 31,000 8,176 7,080 100,455 674,890 8,176 7,080 Total income 695,693 94,908 790,601 Expenditure on: Raising funds Charitable activities 97,021 174,267 97,021 736,047 561,780 Total oxpenditure 561,780 271,288 833,068 Net income I (expenditure} and not movement in funds 133,913 176,380 42,467 Income from donations 2025 Total Restricted Unrestricted Donations Gift aid 17,093 162,999 222 180,092 222 Total income from donations 17,093 163,221 180,314 Prior period comparative: 2024 Total Restricted Unrestricted Donations Gift aid 51,803 48,346 306 100,149 306 Total income from donations 51,803 48,652 100,455 17
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Income from charitable activities 2025 Total Restricted Unrestricted Grants.. National Lottery Leathersellers The Michael Bishop Foundation Land Securities Properties Elm Tree Trust John James Charitable Trust The AB Charitable Trust Charles Hayward Universal Pictures Intl Ltd Mendip Renewables Limited Vintners Foundation Nisbel Trust 29th May 1961 Charitable Trust Multiplex IICF The Medlock CT Skipton Building Society Tabhair Charitable Trust Quartet Community Foundation Belpech Charitable Trust The Beatri Laing Trust The Hedley Foundation MerTrrs The David Yarrow Family Foundation Individually less than £5,000 143,000 30,227 30.000 25,000 15,000 25,000 143,000 30.227 30,000 25.000 25,000 25,000 25,000 25,000 20,000 20,000 20.000 15,000 15.000 10,829 10.000 10,000 5,950 5,000 5,000 5,000 5,000 5.000 5,000 5.000 10,000 10,000 25,000 25,000 20,000 20,000 20,000 15,000 15,000 10,829 10,000 10,000 5,950 5,000 5,000 5,000 5,000 5,000 5,000 5,000 4,500 5,500 Service level agreements 86,890 16,879 103,769 Total income from charitable activities 520.617 83.158 603.775 18
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Income from charitable activities Icontinuedl Prior period comparative: 2024 Total Reslricled Unrestricted Grants.. Sony Music Land Securities Properties Crucible Foundation Garfield Weston Lendlease KPMG Elm Tree Trust The Michael Bishop Foundation BRIT Trust Mendip Renewables Limited Vintners Foundation NBC Universal Nisbel Trust 29th May 1961 Charitable Trust Medlock Charitable Trust Northern Trust The Buzzacott Stuart Defries Memorial Fund B&CE Charitable Trust Lennox Hannay Somerset Community Foundation Inner London Magistotes Court Poor Box The Robert Gavron Charitable Trust Souter Charitable Trust Tom RhY$-Pri Trust Individually less than £5,000 75,000 50.000 50,000 50,000 40,000 33,400 20,000 30,000 30,000 24,000 20,000 15,000 15.000 15,000 10.000 10,000 75,000 50,000 50,000 50,000 40,000 33,400 30,000 30,000 30,000 24,000 20,000 15,000 15,000 15,000 10,000 10,000 10,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 14,500 10,000 10,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 13,500 1,000 Service level agreements 117,990 117,990 Total Income from charltable actlvltles 643,890 31,000 674,890 19
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 Income from other trading activities Restated 2024 Total 2025 Total Food Cell burger venture 6.338 8,176 Total income from other trading activities 6,338 8,176 Prior year other trading income has been restated to correct irs classification from restricted to unrestricted. Income from other trading activities was unrestricted in the current and prior year. 6. Government grants The charity receives government grants, defined as funding from the National Lottery Community Foundation to fund charitsble aclivilies. The lotsl value of such grants in the period ending 31 December 2025 was £143,00012024.. £nill. There are no unfulfilled conditions or contingencies attaching lo these grants in 2025126. 20
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 7. Total expenditure Support and Raising Charitable governance funds activities costs 2025 Total Staff costs (note 91 Project costs Summer ball Adminislralion and consultancy Corporate engagement Subconlraclor costs Accountancy and legal fees Other fundraising costs Premises costs Depreciation 15,377 276,781 179,912 15,377 307,535 179,912 77,379 71,522 52,966 47,424 34,393 33,496 29,353 8,820 77,379 65,679 52,966 7,148 5,843 40,276 34,393 33,496 29,353 8,820 Sub-total 166,528 611,839 64,433 842,800 Allocation of support and governance costs 3,391 61,042 64,433 Total expenditure 169.919 672.881 842,800 Total governance costs were £4,32012024. £4,200> Prior period comparative Support and Raising Charitable governance funds activities costs 2024 Total Staff costs (note 91 Project costs Administration and consultsncy Corporate engagement Subconlraclor costs Accountancy and legal fees Other fundraising costs Premises costs Depreciation 17,968 323,429 180,581 91,049 17,968 359,365 180,581 111,762 62,038 31,352 35,177 12,631 30,713 9,449 20,713 62,038 31,352 35,177 12,631 30,713 9,449 Sub-total 92,637 657,124 83,307 833,068 Allocation of support and governance costs 4,384 78,923 83,307 Total expenditure 97,021 736,047 833,068 21
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 8. Net movement in funds This is stated after charging.. 2025 2024 Depreciation Operating lease payments Trustees, remuneration Trustees, reimbursed expenses Auditors, remuneration (excluding VATI.. Independent examination 8.820 18.477 9,449 18,302 283 146 3,600 3,500 Trustees, reimbursed expenses in the current and prior periods relate to travel costs for one trustee. In common with other charities of our size and nature we use our auditors lo assist with the preparation of the financial statements. 9. Staff costs and numbers Staff costs were as follows.. 2025 2024 Salaries and wages Social security costs Pension costs 269.922 33,144 4.469 326,393 27,258 5,714 307,535 359,365 Included in salaries and wages are ex-gralia payments of £10,00012024'. £nill. One employee earned beeen £80,000 and £90,000 in the year12024'. one, £70,000- £80,000). The key management personnel of the charity comprise the Trustees and the Chief Executive Officer. The total employee benefits of the key management personnel were £89,060 12024. £75,401). 2025 No. 2024 No. Average head count 10. Taxation The charity is exempl from corporation tax as all of ils income is charitable and is applied for charitable purposes. 22
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 11. Tangible fixed assets Fixtures and fittings Computer Equipmen Motor Vehicles Total Cost Al 1 January 2025 and al 31 December 2025 33,311 26,760 21,359 81.430 Depreciation Al 1 January 2025 Charge for the year 17,621 3,251 14,931 2,365 14,864 3,204 47,416 8.820 Al 31 Dernber 2025 20,872 17,296 18,068 56.236 Net book value At 31 December 2025 12.439 9.464 3.291 25.194 Al 31 December 2024 15,690 11,829 6,495 34,014 12. Intangible fixed assets Computer software Cost Al 1 January 2025 and al 31 December 2025 43.999 Amortisation Al 1 January 2025 and al 31 December 2025 Net book value At 31 December 2025 43.999 Al 31 December 2024 43,999 13. Stock 2025 2024 Merchandise 386 386 23
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 14. Debtors 2025 2024 Trade debtors Prepayments Accrued income Other debtors 78,829 10.343 40,568 13,981 25,000 1,524 537 89.709 81,073 15. Creditors - amounts falling due within 1 year 2025 2024 Trade creditors Accruals Other taxation and social security Other creditors 6,517 7.010 10.601 1,300 14,373 10,052 7,356 961 25.428 32,742 16. Analysis of net assets between funds Restricted funds General funds Total funds Tangible fixed assets Intangible assets Current assets Current liabilities 25,194 43,999 100,658 25,428 25.194 43.999 597.514 25.428 496,856 Net assets at 31 December 2025 496,856 144,423 641,279 Restricted funds General funds Total funds Prlor year comparatlve Tangible fixed assets Intangible assets Current assets Current liabilities 34,014 43,999 166,640 32,742 34,014 43,999 640.082 32,742 473,442 Net assets at 31 December 2024 473,442 211,911 685,353 24
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 17. Movements in funds At1 January 2025 At31 December 2025 Income Expenditure Restricted funds Bristol & SW - Al Risk Bristol & SW - Holiday Programme London - Al Risk London Holiday Programme Equine Training & Therapy Food Cell HMP- General Fund HMP- Forest Bank HMP Thameside HMP Fosse Way Key Mentoring 23,102 2,000 30,744 5,418 24,139 7,229 144,290 31,058 107,717 91,638 6,107 133,600 1117,3651 39,337 2,000 83,827 1114,5711 5.418 31,832 2.620 44,734 70.627 169,512 130,327 449 15,000 16,530 35,000 49,663 117,100 83,490 3,500 17,3071 {21,1391 1134,5561 {10,0941 (55,3051 {44,8011 9,158 Total restricted funds 473,442 537,710 514,2961 496,856 Unrestricted funds General funds 211,911 261,016 328,504 144,423 Total unrestricted funds 211,911 261,016 328,504 144,423 Total funds 685.353 798.726 842.800 641.279 Purposes of restrlcted funds Bristol & SW - Al Risk A community programme based on our innovative 7 Slep model, supporting young men at risk of offending or re-offending. Bristol & SW - Holiday Programme A one-day programme for under 18's during the school holidays. London - Al Risk A community programme based on our innovative 7 Slep model, supporting young men at risk of offending or re-offending. London - Holiday Programme A one-day programme for under 18's during the school holidays. Equine Training & Therapy An integral part of the 7 Slep model, horses are used as valuable therapeutic training tool across all the programmes both in the prison and in the community. Food Cell A fitted out prison van that provides NVQ training to our young man, selling handmade bLJrgers at events, festivals etc., in the UK. 25
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 17. Movements in funds Icontinuedl Purposes of restricted funds Icontinuedl HMP- General Fund The general prison fund that supports all of the prison programmes. HMP- Forest Bank A pre-release programme in the prison using the 7 Step model then supporting the young men when they are released 'through the gate,. HMP Thameside A pre-release programme in the prison using the 7 Step model then supporting the young men when they are released 'through the gate,. HMP Fosse Way A pre-release programme In the prison using the 7 Step model then supporting the young men when they are released 'through the gate,. Key Mentoring A programme to train up to fifteen young men with lived experience, leading to an AQA qualification in mentoring training. Prior year comparative Restated At31 December 2024 At1 January 2024 Income Expenditure Restricted funds Bristol & SW- Al Risk Bristol & SW - Holiday Programme London - Al Risk London Holiday Programme Equine Training & Therapy Food Cell HMP- General Fund HMP- Forest Bank HMP Thameside HMP Fosse Way Key Mentoring 39,505 2,000 29,339 13,292 25,000 20,550 84,800 56,585 46,583 21,875 109,881 1126,2841 23,102 2,000 30,744 5,418 24,139 7,229 144,290 31,058 107,717 91,638 6,107 126,600 1125,1951 17,8741 {20,8611 123,4761 {44,0101 (69,5441 {41,2061 {89,2541 14,076 20,000 10,155 103,500 44,017 102.340 159,017 20.183 Total restricted funds 339,529 695,693 561,780 473,442 Unrestricted funds General funds 388,291 94,908 271,288 211,911 Total unrestrictod funds 388,291 94,908 271,288 211,911 Total funds 727,820 790,601 1833,0681 685,353 26
Key4Life CIO Notes to the financial statements For the ear ended 31 December 2025 17. Movements in funds Icontinuedl Prior year comparative (continued) Prior year other trading income has been restated to correct it's classification from restricted lo unreslricled. 18. Related party transactions C Dollimore, a trustee, is also a trustee of The BRIT Trust. During the prior year the charity received grants of £30,000 from The BRIT Trust. All transacbons were carried out al arm5 length. E Hamilton, CEO and Co-Founder, is also the owner of Twelve Hides. During the year the charity made purchases of £3,850 12024.. £5,650) from TWee Hides for rental of horses. No amounts were outstanding at 31 December 202412024." £nill. All transactions were carried out at arms length. 27