REPORT AND FINANCIAL STATEMENTS
1[ST] APRIL 2024
31 March 2025
Company No : 3319667 Registered Charity No : 1060956 IC ~~—~~ 1 | P a g eP a g e ~~ee|~~
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Table of Contents LEGAL AND ADMINISTRATIVE INFORMATION ............................................................................................................ 4 YEAR ENDING 31 MARCH 2025 ................................................................................................................................. 4 Directors’ & Trustees .......................................................................................................................................................................................................................................................... 4 DIRECTORS & TRUSTEE’S ANNUAL REPORT YEAR ENDING 31 MARCH 2025 ............................................................. 5 Structure, Governance, and Management .................................................................................................................................................................................................. 5 Recruitment and Appointment of Trustees ............................................................................................................................................................................................... 5 Management and strategic Leadership ......................................................................................................................................................................................................... 5 DIRECTORS & TRUSTEES ANNUAL REPORT YEAR ENDING 31 MARCH 2025 .............................................................. 6 Public Benefit ......................................................................................................................................................................................................................................................................... 6 Risk Management ............................................................................................................................................................................................................................................................... 6 Objectives and Activities ............................................................................................................................................................................................................................................. 7 Years Objectives .................................................................................................................................................................................................................................................................. 7 Services and Programmes ............................................................................................................................. 7 Work placement and Internship .................................................................................................................... 7 Customer-centric organisation ..................................................................................................................... 7 Financial Review ................................................................................................................................................................................................................................................................. 8 Future Plans ................................................................................................................................................... 8 Financial control ............................................................................................................................................ 8 Investment powers ............................................................................................................................................................................................................................................................. 8 Responsibilities of the Trustees ........................................................................................................................................................................................................................... 8 INDEPENDENT EXAMINER’S REPORT TO DIRECTORS & TRUSTEES YEAR ENDING 31 MARCH 2025 ........................... 9 Respective responsibilities of trustees and examiner .................................................................................................................................................................... 9 Basis of independent examiner’s report ...................................................................................................................................................................................................... 9 Independent examiner’s statement ................................................................................................................................................................................................................. 9 PROFIT AND LOSS ACCOUNT 31 MARCH 2025 .......................................................... Error! Bookmark not defined. BALANCE SHEET YEAR ENDING 31 MARCH 2025 .............................................................................................. 10 STATEMENT OF FINANCIAL ACTIVITIES (Income & Expenditure Account) ................................................................. 11 YEAR ENDED 31 MARCH 2025 ................................................................................................................................ 11 Incoming Resources ................................................................................................................................................................................................................................................................... 11 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 .............................................................. 12 (1) Principal Accounting Policies ......................................................................................................................... 12 Voluntary income ........................................................................................................................................................................................................................................................................... 12 Grants................................................................................................................................................................................................................................................................................................ 12 Fund Accounting ............................................................................................................................................................................................................................................................................. 12 Depreciation .................................................................................................................................................................................................................................................................................... 12 Value Added Tax ............................................................................................................................................................................................................................................................................. 12 (2) Tangible Assets ............................................................................................................................................. 12 (3) Debtors ................................................................................................................................................................................................................................................................................ 13 (4) Creditors: Amounts falling due within 12 months ............................................................................................................................................................................................ 13 (5) Resources expended ..................................................................................................................................................................................................................................................... 13
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(6) Capital commitments and contingent liabilities .............................................................................................................................................................................................. 14 (7) Movements in funds ........................................................................................................................................................................................................................................................ 14 Restricted funds .......................................................................................................................................... 14
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LEGAL AND ADMINISTRATIVE INFORMATION
YEAR ENDING 31 MARCH 2025
Directors’ & Trustees
The directors of the charitable company
Registered Company Number 3319667 (England & Wales) Registered Charity Number 1060956 Registered Office 5 Russell Town Avenue Redfield Bristol BS5 9LT Directors & Trustees Chair Guy Bailey Treasurer Anndeloris Chacon Secretary Berdencia Williams-McLarty Independent Examiners ANT BEC Payroll & Accountancy Services 24 Lower Ashley Road St Agnes Bristol BS2 9NP Solicitors Bush & Bush 77-81 Alma Road Clifton Bristol BS8 2DP Bankers Santander UK PLC Bridle Road Bootle Merseyside L30 4GB
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PHOENIX SOCIAL ENTERPRISE LIMITED
DIRECTORS & TRUSTEE’S ANNUAL REPORT YEAR ENDING 31 MARCH 2025
The Trustees present their report incorporating the Directors report and financial statements of the year ended 31 March 2024. Reference and administrative information set out on the previous page form part of this report. The financial statements have been prepared by the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2022 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts by the Financial Reporting Standard for Smaller Entities FRSSE.
Structure, Governance, and Management
Phoenix Social Enterprise is a registered charity and company limited by guarantee (No.1060956 and No.3319667, respectively). Incorporated on 17 February. The organisation is governed under a Memorandum and Articles of Association.
Phoenix Social Enterprise is constantly evolving, changing, and updating. We are a transnational company creating employment education and training opportunities nationally, trans-nationally, and globally for disadvantaged young people - underpinned by a philosophy of equality and human rights. We focus on young, disadvantaged people 18-34 and older people 50+ mainly from Black and Minority Ethnic (BAME) diverse communities locally, nationally, and transnationally. The organisation is controlled by its governance document, a deed of trust, and constitutes a limited company by guarantee, as defined by the Companies Act 2006 and its Amendments 2013.
Recruitment and Appointment of Trustees
Our rules provide for a Board of Directors (“Board”) consisting of no less than three and no more than thirteen members, the exact number within this range being determined by our Board. The Board currently has set the number of directors at seven. The Corporate Governance and Nominating Committee (“Governance Committee”) reviews the size and composition of our Board and its committees at least once per year, including the number of directors eligible for election at the annual meeting of stakeholders, accordance with our Certificate of Incorporation.
Management and strategic Leadership
Phoenix Social Enterprise (PSE) provides accredited training, capacity building of the organisation employment provision for long-term unemployed, and work placement opportunities for individuals in the UK and Europe. The Board of Directors (also referred to as Trustees) was elected at the Annual General Meeting held on 11[th] November 2024 and currently comprises 3 representatives. The Chair has substantial experience in equality, youth, business, and management skills. A qualified social worker with years of experience working with disadvantaged young people.
The CEO acts as shadow secretary and the Operations director and shadow business development director on the board.
The Treasurer manages a care orientation business in the community with extensive financial management experience and qualifications.
PSE Board members are experienced managers and/or leaders in their respective organisations with track records of delivering quality services within voluntary, community, and social enterprise sectors, within the private and public sectors. Directors are inducted via an introductory session with the Chief Executive followed by an annual Board/staff Away Day.
The Board of Directors are voluntary members; meet six weeks give strategic direction and set priorities. Directors also volunteer their time on two sub-committees - the Personnel, Finance & Building Sub-committee.
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PHOENIX SOCIAL ENTERPRISE LIMITED
DIRECTORS & TRUSTEES ANNUAL REPORT YEAR ENDING 31 MARCH 2025
Directors address issues relating to their respective areas of responsibility. Decisions made by sub-committees refer to the Board for final ratification.
Public Benefit
Our main activities are described below more fully. Our activities focus on PSE’s role in addressing social issues and social inclusion through education, training, and employment programs. We are also an income generation company. PSE selfgenerates 80% of its income from lettings, room hire, conferences and events, commissions, social research and training, and employment contracts. In 2024-2025 financial year we managed several programmes. The overriding majority via commissions, research, conference booking, and events.
Accredited Training and other income generation projects – provided accredited training for young people in partnership with local training agencies by using our assets to generate funding to support other activities.
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Young disadvantaged and gifted and talented young people are supported using alternative techniques to upskill and support them to reach their true potential using other methods.
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Office rental, events and conference facilities - PSE is based in a detached building with outdoor spaces for events, within the building several office units are rented to companies, conference facilities and meeting rooms are booked by organisations, the public and businesses for AGM, celebratory events and conferences.
In shaping the objectives for the year and planning activities, directors have considered the business, enterprise and Charity Commission Guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. Directors act in the company’s best interests, follow the articles of association and report changes and annual accounts to relevant authorities.
Risk Management
The Board of Directors’ duties identify all review risks to which the company and charity are exposed and ensure appropriate controls are in place to provide reasonable assurance against fraud and error. In addition to the due diligence, policies and structures are in place to protect the organisation. The Board of Directors has conducted its own review of the major risks of exposure, and systems have been established to mitigate those risks.
External risks to finance have led to the development of a strategic plan, which allow for the diversification of funding and activities towards self-generation of income and contracts. Internal risks are minimized by the implementation of procedures for authorisation of all transactions and projects to ensure consistent quality of delivery for all operational aspects of the company. These procedures are periodically reviewed to ensure they still meet the needs of the company and charity.
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PHOENIX SOCIAL ENTERPRISE LIMITED
DIRECTORS & TRUSTEES' ANNUAL REPORT FOR YEAR ENDING 31 MARCH 2025
Objectives and Activities
Our objectives are to:
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Provide local, national, and transnational businesses with the most cost-effective route to recruit talented young people and adults to operate within their businesses, ensuring stability and growth for their business in the medium and long term.
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Provide educational institutions with social action research forums to introduce their students to local, students establishing employment within these industries.
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Provide young people and adults from marginalized communities with the opportunity to realise their ambition in the workplace by providing opportunities to display their talents and skills to businesses from diverse industries and professions both nationally and trans-nationally in gaining employment in such businesses.
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Develop innovative education/business programs that will enable young people to demonstrate their skill set to satisfy the needs of businesses and for them to demonstrate their potential.
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Recognised skills that locally, nationally, and trans-nationally transform businesses, as the principal quality provider of educational and employment opportunities in the UK, in Europe, and other international markets.
Years Objectives
Services and Programmes
Self-generated income – In Bristol and the surrounding area, we provide capacity building to communities and individuals, reasonably priced office space, conference facilities, event support/management, and partnership working with organisations wishing to improve their employment practices.
Brokerage Service – Job Brokerage provides tailored, 1-to-1 support for unemployed people in Bristol and the West of England. The service works closely with a range of providers and organisation’s take on long-term unemployed people and “job-ready” clients to overcome individual barriers, but who need further assistance to target specific employers and support to access employment
Work placement and Internship
Our focus has been on working with institutions, companies, and charities strategically to provide employment, education, and training opportunities for teachers, trainers, and students utilizing e-tools and online training solutions. Programs that enabled us to work with industries and institutions to develop training for teachers, working with the arts as an alternative youth engagement medium.
Customer-centric organisation
Our customers view their interactions with us holistically. We put our customers first in every aspect of the business—from product development and marketing to sales and customer service. Our focus on customers is optimized to have the greatest impact on customer experience and ultimately, the organization’s bottom line.
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PHOENIX SOCIAL ENTERPRISE LIMITED
DIRECTORS & TRUSTEES ANNUAL REPORT YEAR ENDING 31 MARCH 2025
Financial Review
Future Plans
Private & Social Housing Project Planning Permission Building Costs April 2026 Building 2027 ~~ee~~ 2026 £3m Gain Planning construction
Financial control
The Trustees believe that existing controls are adequate to safeguard the assets of the company & charity.
Investment powers
There are no significant restrictions on either the investment powers of the Directors or Trustees or the activities of the charity.
Responsibilities of the Trustees
The Directors/Trustees are responsible for preparing the Report and the financial statements in accordance, with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the situation of the company and of the incoming resources and application of resources, including the income and expenditure, of the company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies.
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make judgement and estimates that are reasonable and prudent.
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
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and prepare the financial statements on an ongoing concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that 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.
Registered Office
Signed by order of the Trustees.
Leal bo On behalf of PSE Board of Directors Date: 15/11/2025
5 Russell Town Avenue Redfield Bristol
BS5 9LT Guy Reid-Bailey OBE, Chair
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PHOENIX SOCIAL ENTERPRISE LIMITED
INDEPENDENT EXAMINER’S REPORT TO DIRECTORS & TRUSTEES YEAR ENDING 31 MARCH 2025
I report on the accounts of the company for the period 1 April 2024 – 31 March 2025 which are set out on pages 8 to 16.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed. It is my responsibility to:
Examine the accounts under section 145 of the 2011 Act,
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To follow the procedures laid down in the General Directions given by the
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Charity Commission under section145(5)(b) of the 2011 Act, and
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to state whether matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required by audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
During my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles.
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Statement of Recommended Practice: Accounting and Reporting by Charities (effective January 2015) have been met; or
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(2) to which, in my opinion, attention enables a proper understanding of the accounts to be reached.
Lloyd Beckford Date: 26/11/2025
Antbec Payroll & Accountancy Services
24 Lower Ashley Road, St Agnes, Bristol BS2 9NP
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PHOENIX SOCIAL ENTERPRISE LTD
BALANCE SHEET YEAR ENDING 31 MARCH 2025
| 2025 | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Tangible Assets | (2) | 264,049 | 259,245 | |||
| CURRENT ASSETS | ||||||
| Debtors: and prepayments | (3) | 8,661 | 135,715 | |||
| Cash at bank | 21,454 | 25,823 | ||||
| 30,115 | 161,532 | |||||
| CURRENT LIABILITIES | ||||||
| Creditors: amount falling | (4) | (40,612) | (180,181) | |||
| Due within 12 months | ||||||
| NET CURRENT ASSETS/(LIABILITIES) | (10,497) | (18,643) | ||||
| NET ASSETS | 253,552 | 240,602 | ||||
| UNRESTRICTED FUNDS | (7) | |||||
| General Funds | (54,286) | 240,602 | ||||
| Designated funds | 75,559 | - | ||||
| RESTRITED FUNDS | 232,279 | 240,602 | ||||
| ______ | ______ | |||||
| TOTAL FUNDS | 253,553 240,602 | 253,553 240,602 | ||||
| _ | _ | |||||
| The financial statements have been prepared in accordance with the | The financial statements have been prepared in accordance with the | |||||
| Special provisions of part VII of the companies Act 1985 relating to | Special provisions of part VII of the companies Act 1985 relating to | |||||
| Small companies by the company’s accountant. | ||||||
| And signed on behalf of the Board of Directors/Trustees by the Chair dated: 11/11/2025 | And signed on behalf of the Board of Directors/Trustees by the Chair dated: 11/11/2025 RiedBo |
And signed on behalf of the Board of Directors/Trustees by the Chair dated: 11/11/2025 | And signed on behalf of the Board of Directors/Trustees by the Chair dated: 11/11/2025 |
PHOENIX SOCIAL ENTERPRISE LTD
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STATEMENT OF FINANCIAL ACTIVITIES (Income & Expenditure Account) YEAR ENDED 31 MARCH 2025
| Incoming Resources Notes Unrestricted Funds 2025 £ Restricted Funds 2025 £ Total Funds 2025 £ Income resources Donations, legacies and Similar income resources Voluntary Income - - - Investment Income - - - Event and project income 20,000 195,000 215,000 Rental income 27,171 70,571 97,742 Core Activities 50,000 105,000 155,000 Management Fees 413 - 413 Strategic Partnership 8,000 - 8000 Other income - _ - _ - _ Total Incoming Resources 105,584 370,571 476,154 Resources Expended Charitable expenditure 117,838 422,860 540,690 Management/administration 16,445 - 16,445 Total Resources Expended _ 134,283 _ 422,860 _ 557,143 Net incoming/[outgoing] resources -Net income expenditure for the year (219,329) 232,279 12,950 Total funds at 1st.April 2024 240,602 - 240,602 __ __ _ Total funds 31 March 2025 21,273 __ 232,279 _ 253,552 __ |
Total Funds 2024 £ 13,781 27,507 58,816 38,443 220,431 - 56,860 - _ 415,838 56,860 __ 382,638 33,200 207,402 __ 240,602 __ |
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The notes on pages 13 to 16 form part of these financial statements as required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet* See note 8&9 for full comparative for 2023.
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PHOENIX SOCIAL ENTERPRISE LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
(1) Principal Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.
The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2019) issues in October 2019, applicable accounting standards and changes in the Companies Act 2025. The principal accounting policies adopted in the preparation of the financial statements are as follows:
Voluntary income
Donations and gifts are included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers have not been included.
Grants
Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Fund Accounting
Designated funds are unrestricted funds earmarked for the committee for particular purpose. Restricted funds are used for specific purposes as laid down by the donor. Unrestricted are income received and generated by the objects of the charity without further specific purpose and are available as general funds.
Depreciation
Fixed assets are depreciated over their expected useful lives on the following bases: Equipment: 25% per annum on the reducing balance basis. Items of equipment are capitalised when the purchase price exceeds £500. The building is not being depreciated.
Value Added Tax
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. Designated funds are unrestricted funds earmarked by the board/committee for particular purpose
(2) Tangible Assets
| Tangible Assets | |
|---|---|
| Improvements to Building £ Furniture fttings equipment £ Cost: Balance brought forward 225,748 81,444 Additions in the year - 21,212 225,748 102,655 Depreciation: Balance brought forward - 51,588 Changes for the year - 12,767 - 64,335 Net book value at 31.3.2025 225,748 38,300 Net book value at 31.3.2024 225,748 19,245 |
TOTAL £ 307,191 21,212 328,404 |
51,588 12,767 64,355 264,049 |
|
244,933 |
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PHOENIX SOCIAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
(3) Debtors
| 3) Debtors | |
|---|---|
| 2025 £ Miscellaneous debts and prepayments 8,661 Grants due - 8,661 4) Creditors: Amounts falling due within 12 months Sundry creditors and accruals 40,612 |
2024 £ 6,958 128,754 |
135,715 6,798 |
(4) Creditors: Amounts falling due within 12 months
(5) Resources expended
| Direct | Management & | Total | Total | |
|---|---|---|---|---|
| Expenditure | Administration | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Salaries | 128,775 | 5,000 | 135,775 | 180,970 |
| Consultancy | 73,758 | - | 73,758 | - |
| Social security | - | - | - | 15,155 |
| Pension | - | - | - | 4,324 |
| Training | 14,823 | - | 14,823 | - |
| AGM and room hirs | 5,422 | - | 5,422 | - |
| Telephone | 13,381 | - | 13,381 | 6,791 |
| Insurance | 5,811 | - | 5,811 | 4,697 |
| Catering and Events | 14,508 | 117 | 14,625 | - |
| Repairs and renewals | 140,607 | - | 140,607 | 3,207 |
| Print, post and stationery | 20,622 | - | 20,622 | 5,844 |
| Recruitment and relocation | 5,819 | - | 5,819 | - |
| Travel | 6,148 | 69 | 6,217 | - |
| Computer consumables | 2,397 | - | 2,397 | 3,207 |
| Depreciation | 12,767 | - | 12,767 | - |
| Audit | - | 1,750 | 1,750 | - |
| Accountancy fee | - | 1,225 | 1,225 | - |
| Sundry expenses | 1,021 | - | 1,021 | 111,162 |
| Loan repayment | 11,100 | - | 11,100 | |
| Volunteer expenses | 10,137 | - | 10,137 | - |
| Bank charges | - | 416 | 416 | - |
| Advertising | 5,224 | - | 5,224 | 1,140 |
| Legal and professional | 7,868 | 7,868 | - | |
| Rates and Water | 29,323 | - | 29,323 | 7,047 |
| Light and heating | 28,448 | - | 28,448 | 11,640 |
| Health and Safety | 7,116 | - | 7,116 | - |
| Subscriptions | 3,490 | - | 3,490 | - |
| Governance costs | - | - | - | 26,814 |
| __ | __ | ______ | _ | |
| 540,698 _ |
16,445 _ |
557,143 _ |
382,638 _ |
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PHOENIX SOCIAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
(6) Capital commitments and contingent liabilities
These were none this year
(7) Movements in funds
| Restricted funds Revenue Projects Balance 1stApril 2024 £ Revenue Projects 86,080 _Building_Projects 99,993 98,495 198,488 284,568 Unrestricted funds Designated Funds Staf Contingency Fund 10,000 Building Fund 27,260 Equipment Fund 29,855 _ 67,115 General Fund 22,857 89,972 (8) Employment information Number of employees |
Income £ 370,571 - _- _ 379,571 - - - _ - 105,584 105,584 |
Direct Expenditure £ (422,860) - __- __ (422,860) - - - _ - (134,284) 134,283 2025 4 |
Transfer General Funds £ - - _- _ - - - 8,444 ___ 8,444 8,444 - |
31st March 2025 £ 33,791 99,993 98,495 198,488 232,279 10,000 27,260 38,299 _ 75,599 (14,286) 61,273 2024 5 |
|---|---|---|---|---|
_ |
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| ___ |
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The average weekly number of persons employed by the company (including directors) during the year calculated based on full time equivalents was 5.
Wages and salaries Social security costs Other pensions costs |
31.3.25 £ 118,300 13,087 4,388 135,775 |
31.3.24 £ 190,070 15,155 4,324 209,509 |
|---|---|---|
(9) Directors / Trustees information
Expenses
The Directors/Trustees received no remuneration, except expenses for attendance at meetings.
(10) Analysis of net assets between funds
| Tangible fxed assets Current assets Current liabilities Net assets at 31st March 2025 |
General Funds £ - (13,674) (40,612) (54,286) |
Designated Funds £ 65,559 10,000 -______ 75,559 |
Restricted Funds £ 158,488 73,791 -______ 232,279 |
Total £ 224,047 70,117 (40,612) |
|---|---|---|---|---|
253,552 |
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