Regi$tsred number: 02S52186 Charity numb¥r- 1063698 MARSHA PHOENIX MEMORIAL TRUST IA company limited by guarantee) TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 HEDLEY DUNK LIMITED Chartered Accountants & StatLbtory Audilor Trinity House 3 Bullace Lane Dartford DA1 1BB 'AACK46AQ' 07109r2021 COMPANIES HOUSE A07 *k61
MARSHA PHOENIX MEMORIAL TRUST {A ¢ompany lim•ted by guarantee) CONTENTS Page R•f•refi and admlnistratlve details of the charity. its Truste•s and •dvl$ers Trustees. report Ind•p•nd•nt auditors. report on the financial statements ststement of finon¢ial ¥¢tivrliès Balance sheet Slatgm•nt of ¢a$h flows 10 Not•$ to the fin*n¢i•l statements
MARSHA PHOENIX MEMORIAL TRUST {A conwny llmlted by guardnteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AIARCH 2021 Trustees W Phoenix Ms E Slanford Xose Ms J Befbeck Mi D Martin Ms C R Smith Ms L Char$ Ms J Mackie Mr D Gray Ms R Reyn¢Sds Mrs J Chandkr Company regi$tered number 02552186 Charlty registered number 1C63698 R•gistered office 992 TressIan Road Brockley London SE4 1YD Chf •x•cutiv• oificer Rebecca Long Ind•p¢nd¢nt audltors Hedley t*Jnk Limited 3 Bullace Lanè Dartford Kent DA1 2TU Banke HSBC plc 90 Deptfod Hwh Street London SE8 4RQ Page 1
MARSHA PHOENIX MEMORIAL TRUST IA company limit by guarantee} TRUSTEES. REPORT FOR THE YEAR EIIDED 31 MARCH 2021 The Trustee5 pr&senl their anThJal reF together with the audited financial stslements of the Marsha Phoenix Memorial Tnjst for the 1 Awil 2020 to 31 March 2021. The Ann¢ report serves the purposes of both a Trustees, report and a dire¢tors' report under company Lw4. The Trustees o)nfirm that the Annual repon and financial statements of the ¢h#rttable ¢ompany compty wth the ojrrent statutory requifements, the requirements of the ¢har¢table ¢ompanYs goverrbing documeni and Ihe provisions of the Statement of Recommended Practice (SORPI applicable to charities preparing their accounts in awjrdance with the Financial Reporting Siandard applicable in the UK and Reput4ic of Ireland IFRS102) {efferlive 1 January 20191. Since the charity qualifies as small under sectKJn 382 of the Companies Act 2CIX. the Strategic report fequired of medium and large companies under the Companies Aca 20C6 (Stralegic Report and Dired(ws' Rerx)rt) Regulations 2013 has been omrtted. ObjectiTWS and activiti•s • Pollcles and obiectlv¢$ In setting objective5 and planning for activities. the Trustees have gryen due cvrtsKJeration to general guidance published by the Charty Commission relating to Publ benefrf. includ9 the guidance 'Public benefrt.. running a charity IPB21'. The prin¢iple objed of the eharity dLrring the year was to wn ts¥o h05teL8 for the benefil of young horne$5 wofflen and ¢aler for their welfare. support and sooaE needs. This wil be ihe objective of the charty going forward. Achlevements •nd perfornnCe • R•vlew of acfjvbti•s Chaniy has worked hard during the year to achieve the aims of Ihe organisats"on. Propety mainlenance has continued to ensure a good and safe environment for the yOLry women. A steady programme ol other services has been prov¢ded. Through canvassing w'nKJn during Ihe year were able to confimi that stsff and resident satisfaction wtth the semce remained hpJh. We faced some challenges relaled lo the Coronavirus panderni¢ bul managed to keep open and everyone as safe as we w8re able during testing tsme. Flnanelal review • GoSng concern After making appropriate enquir*s. the Trustees have a wsoftable expectation that the ¢harity has adequate resources to continue in operational exIstere lor the foreseeable fulure. For this reason. they continue lo adopt the goirrtJ concern basis in preparing Ihe finan31 sialements. Further details reyaraing ihe adoptson of the going concern bass can be found in the accounting poliryes. • R¢$er¥¢$ poll¢y Th8 Tni%lees have reviewed the ¢hartys wuirernents for reseryes and established a poficy that it should aim lo hold unr¢stri¢ted re$¢we5 behveen 9 and 12 monlhs tsf expendiluiÈ. The reserve are rtreoded lo mp.p.t Ihe working Capital requirèments of tl)e Charity and the Trustèes are confident that at this level the charity would be able to ¢onlinue in the event of a signthcanl drop in fiJndin9. Page 2
MARSHA PHOENIX MEMORIAL TRUST (A company limited by guarantee TRUSTEES. REPORT ICOMTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 • Principal risks and uncertainties The princrple risk facing the charity woukl be an unexpecled k)ss of fuTrJing. To miligale this risk the Truslees have a suilaNe rèserves policy and will ¢onlwiue to build reserve5 lo ensure ihe charity is on strong finan(aal footing lo face any un¢ertaintie$. • Prlnelpal fundlng The princAple funding is from IrKal authoritie5 and rent charsed. The trustees ye¢W the rent levels yearly to ensure they are appropriale. StfU¢ture. goveman¢e and management • Consbtutlon Mwsha Phoenix Memorial Trust is registered as a (*aritable company limited by guarantee and was set up by a Memorandum of Assouation dated 25 October 191 arHJ rewised on 11 June 2010 and is a registefe¢J charity number 1063698. • Methods of appointment or electloTr of Tnmtees .The Trustee5 8re appoinle11 al the Annual General Meeting by the" members of the company. Should a vacan arise during Ihe year Ihe Tnjstees fan C further Tfttstees to Ihe board. Finan¢i•l risk manag•m•nt The Trustees have a55es5ed the Ma1 risk5 to which the charity is exposed, in parts"uAar those relaled lo ihe opèrations and finances of thg ¢hanty. and we satisffied that $ystem$ and pro¢edufes are in place to mitigate exptssure to the major risks. Plans fol futur• perlods A new business plan commenced in 2019 to mainlain our posthon as a servi¢¢ provider in the borough and lo maintain and build on current levels of hjnding to enabk u$ to focu5 on the core business. We continued to mana9e our income carefully during the year. trwng to maximise the posth.ve impact on service delivery for our clntS and maximise our income from rent. grant5 and lundfaisirbg. We also. ntInued a programme of improvement whth the Trust wothed through during this finan(ial year. which will be rrIed forward. We CalIne lo look at means of fvndraisin9 and ongoing improvernent WO within the projed to sustain our posrtion. The aim of the improvements is lo put the charity on a more sustainable fwling going fonvard. Key obiectives have in¢luded boking to woth in rn0 efficient ways includin9 continuing with outsourcing some key financial work. and ¢onb"nuin9 to ty to obtain more realist remuneration for our services going loard. This work has continued during this finanual year with several key goals bwThJ met vmhin Ihe plan arKI the work towards aim will be carried lOard into 2021122. Page 3
MARSHA PHOENIX MEMORIAL TRUST IA company limited by guarantee) TRUSTEES, REPORT IcopillNUEOI FOR THE YEAR ENDED 31 MARCH 2021 Ststsment of Truste. respon$lbllltles The Trustee$ {who are aso the dyectors of the charity for the puws of ¢ompany lawl are responsible for preparing the Trustees. report and the finanual statements in Jrdance wth applicable law and United Kingdom Ac¢ounling Standards {Unrte¢J Kin9dom Generalty Accepled A(wunting Praclicel. Company13w requi5 the Trustees to prepare financial statements for ea¢h finan¢t81 . Under ¢ompany law. the Truslees must nol approve the finanoal slaiements unless they are satssfied Ihal they give a tnje and fair wew of the state of affairs of the charity and ol its incoming resources and application of resources, including 115 income and expendilure, for that period. In Preparing ihese financial slalernenls. the Trustees are required to.. select suitable accounting pc4icies and then apth them Mnsislenty. observe the methods and principles of Ihe Charities SORP IFRS 1021.. make judgments and accounting eslimes that are reasonable and pmdent-, stale whelher apICable UK ACvn11ng Standards {FRS 1021 have been floWed. Sltbject to any maleiial departures disclosed and explained in the finanual statements., prepare the finantsal slalemenls on Ihe going ¢oncem basis unlvss it is inappropriate lo presum& that the harity will continue in buwne$s. The Trustees 8re sponSible for keeprn9 adeque accounting records that are sufficient lo shw and explain the Charills iransadions and disdose wth asonable accuracy at any lime ihe financial position of the ¢harily and enable them to ensure Ihal the financial slalemenls compY with the Companies Act 20C6. They are 81$0 Tespon5ible for safeguarding the asse15 of the d)anty and henc¢ for takin9 reasonable steps for the prevenlion and detection of fraud and othw iTheguIarits. Disclosure of Information to auditors Each of the persons who ar¢ Tru$lee$ at the time vthen ttys Trustees. report 15 apwoved has ¢onfimied thal.. so far as that Trustee is aware. Ihere is M relevant audit infMnation of whith the charity's auditors are unaware. and that Trustee has laken al the steps that ovghl lo have been taken as a Trustee in c*der to be 8W8re of any relevant audf( information ant1 to esiablish that the charitys audrtors are aware of thai inltymation. Auditors The 8udiiors. Hedley Dunk Limited. have indicated their willingness to e47rtinue in office. The designated Trustees will propose a motion reappoinb"n9 the auditors at a meeting of the Truslee5. Approved by OTd¢i of the members of the board of Trustees and sbjned on thLyr beham by.. W Phoenix Date.. 9 August 2021 Page 4
MARSHA PHOENIX P•1EMORIAL TRUST (A company limited by guarnntse INDEPENOENT AUDITORS. REPORT TO THE MEMBERS OF MARSHA PHOENIX MEMORIAL TRUST Oplnion We ha¥e audited the financial statements of Marsha Phoenix Memorial Trust lihe 'tharilable company) for the year ended 31 Mar¢h 2021 which cgmprise Ihe Statemenl of fjnan¢ial acliwties, Ihe Balance sheet, the Stslement of Cash flows and the Telaled notes. induding a summary of si9nrficant accounthng poliries. The finan¢ial reporting framewotk that has been applied in their preparation is applicable law and United Kingdom AccounDng Standards. including Financial Reporting Stsndard 102 'The Financial ReportJ"n9 Standard applicable In the UK and Republic of Ireland, (Unrted Kingdom Generally Accepled Accounting Pract1. In our the fM)anual stslements: gpie a true artd fair wew of Ihe stale of Ihe thaiitable compan$ affairs as al 31 March 2021 aThJ of its in¢omFng resourees and appltsb.on of resources, induding its incomè and expenditure for the year then ended., have been prowty prepwed in accordance with United lfjngdom Generalty Accepted Ac¢ounling Practice.. arKI have been prepared in accordance with the rew1ments ofthe Charities Ad 2011. 8asls for oplnlon We conducled our audit in accordance with Internatn81 Standards on Audrting IUKI IISAS IUK)) and applble law. Our responsibilitie5 under those standard5 are ftjrther deSbe in the Audrtors. fesponsibilities for the audit of the financial statements section of our report. We afe indepen¢Jenl of Ihe charitable company in accordan¢e th the ethical requirements Ihat are relevant to our audit of the financial stslements in the United Kin9dorn, induding Ihe Financial Rewjrting Councifs Ethiral Standard. and we have fuffiiied ¢)ur olher elttical responsibilities in accordance wrth these requirernents. We bel*ve that the audrt evKJen¢e we hava obtained is SLrfficienl and appropriate to prode a basis for our opinion. Con¢lu$ions olating to golng ¢on¢•m In auditing the finanaal statements, we ha conduded that ihe Truslees. use ol the going con¢em basis of a¢¢ounting in the preparation ol the finanaal statements is appropn'ate. Based on the work we have perf0rTned. we have not tdenlified any material CertaintI9$ relating to events or condition5 that, Indiu?11Y or ¢ollectivety. may cast significant doubl on the charitable ¢ompany'$ abilty lo eonts'nue as a going Concern for a perK)d of ai least twe months from wn thè financial statements are authorised lor isstje. Jr responsibilrties and the responsibilitS of the Twstees wrylh respect to going concem are des¢ribed in the relevant sections of Ihis report. Other infomiation The Tiustees are responsible fw the other infomiation. The other informatKJn comprises Ihe information induded in the Annual report, oihef than the finanaal statements and our Au¢Jitors' report thereon. Our Opin) on the financial statemenls does not covèr the other information and we do not eXpsS any form of a55urance conclusion Ihereon. In connection with our audil ol the financgal slatemenls, our responsibility is to read the tslher infomlalion and, in doing so, consider whelher the other infomation is materialty inconsistent wdh the finan¢o1 st8lemenls or our knowledgè obtained in the audit or otherwse appears to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whelher the is a material misslalemenl in the fjnanoal statemenis or a material misslatemenl ol the other informatson. If. based on the Vrk we have perforrne(l. we ¢ondude Ihal Iher$ is a materia misstslemenl of this other information, we are required lo rem that fact. Page 5
MARSHA PHOENIX MEMORIAL TRUST IA ¢ompany limlt•d by guardntee) INDEPENDEpff AUDITORS. REPORT TO THE MEMBERS OF MARSHA PHOENIX MEMORIAL TRUST ICONTINUEDI Matters on whkh we are wequired lo pOrt by ex¢eptloTr We have nolhing to report in respect of the lol(Ming matlers where the ChaTrties {AOUnt$ and Reports) Regulations 2008 require$ us to report to you il. in our cfjinion.. the infomalion gNen in the Trustees. ieport i% inconsistent in any material respect wilh the financial statements.. or suffiaent accounting records have not been kept., or Ihe ffnanrjal 51alements are not in agreement with the acownliThJ rec(wds and retums.. or we have not re¢erve¢J all Ihe infomation and explan1$ we require for our aud. Responsibllltles of trustees As explained more fLIty in the Tru$lees' responsibilities slalement, the Trustees (who are also the directors ol the ¢haritable company fof thè purposes of company bwl are responsible for the preparation of the financial 5tstervenls and for being saiisffied that they give a true and fair view. and for such inlemal ntrol as the Trustees determine is necessary to enable the pparatiOn of ffinancial stslements thal are freè from material misstatement, whether due lo Iraud or error. In preparing Ihe finanual slatements. Ihe Tnjstèes a responsibfe for assessin9 the charitable companvs abilrty to conb'nue as a going con¢em. disdosing. as applK?ble. matters reted lo going concern and using the going concern basis of accounting unless the Trvslees either interKI to liquidate the charitable company or to cease operations. or have no iealistic aliemative bul to do so. Auditr•rs' re¥pon$ibililios for the ¥udil of th• flnan¢ial slal•m•nts We have been appointed 8$ audrtor under se¢tNy) 144 of the charib.es Aca 2011 and report in aCrIdanCE with the Ai and relevant regulation5 made or hawrrg effe thereunder. Our objectives are to obtain reasonabte assurance about whelher the financial stalemen15 as a whole are free frorn material misstatement, whèther due to fraud OT error, and to issue an Auditors. rert that iftcludes our ownion. Reasonable assurance is a high Ve1 of assurance. but is not a guarantee that an atjdit conducted in accordance with ISAS IUKI will ah¥ays detect a material misslalemenl when rt exists. Misstatements can arise from traud or error and are consideied rnaterial rf, indiwdualty or in the aggregate. they covl¢J reasonably be expected to iTrfluen the economK dKi$ions of users taken on the basis Of these finanty31 $lalements. Irregularities, induding fraud, are instan5 of non-compliance vAth laws and regulatsons. We design procedures in line with our responsibilities. outlined above. lo detect material misstalernenls in respect of irregularities, including fraud. The extent to which our procedures a capabk of delectsng irregularities, indudin9 fraud is detailed below.. We identifie(l area$ ol and regulalions that could reasonably be expected lo have a material effect on the financial slalemenls from our general ¢ommeroal and sector experience and through discussion wlh the Irusleès and other management las wuirèd by audrting standards) and discussed with the Iru5tees arid other management the policies and procedures re9aTding ¢oMpElan wrth laws and regulations. We CornmunIed identified laws and re9ulatKsns throughout our leam and remained alerl to any indicats.ons of non.compliance Ihroughc4Jl the audit. Thè risk of nol dete¢ting a material misstatement resulting from fraud is higher than for oné resulting frorn error, a$ fraud may involve collusion, forgery. inlentsjnal tynissions. misrepresentalions, or Ihe override of inlemal controls. Page 6
MARSHA PHOENIX MEMORIAL TRUST IA compny lknit•d by guarant••) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MARSHA PHOENIX MEMORIAL TRUST {CONTINUED) We have KlenlTfied and assessed Ihe iisks of material mis5talement of the financial $tatemonts. whether due lo fraud or error, design and perform audil procedures responsNe lo those risks, and obtain audrt ewdence Ihal is SLrffJcient and appropriate to proVe a ba$ for (Njr opsr40n. These indude.. Gained an underslanding of the internal control enwronmenL Identifying and le5ting joumal entries. in partI18r any Ltnusual and material Éoumal entries Posted. . Discussed thè risk offraud th thè engagemÈnl team. re9wdirrfJ fraud might oCr in ihe financ4al slalernenls and any potential indicators of fraud. . Distxssed with the truslees ifthey have any knthyledge of any polenb.al fraud that nay have been Caled out. • Read the minules of meetings ofthose charged wilh governance and reev ¢orr&$pondenc* with HMRC. Through these proce(1ures. we became aware of no actual or suspected nort-COrnFli8n¢e. A further description of our responsibililies for the of Ihe financi31 statements 1$ located the Financ4al ReportiThJ Counol's websile at.. www.frc. .ukJaudttorsres Sibilittes. Th"s desuiption fom)$ part of our Auditors, report. Use of our report This report is made sdety to the charitable companys Iru5tees. as a body. in a¢¢ordance with Part 4 of the Charities (Accounts and Report5) Regulatsons 2008. Our audrt Work ha5 been undertaken so that we might stale to the charilable companls Irustees those matters we are required 10 state lo them In an Auditors. pOrt and for no olher purpose. To the fullest exlent permitted by law. we do r1 accept or assume responsibility lo anyone other than the charitable company and ils members, as a booy. foi our aLrt work, for Ihi5 report, or lor Ihe opinions we have lorm8d. Hedley Dunk Limited 3 Bullace Lane Dartrord Kgnl DA1 18B 9 August 2021 Hedley Ounk Lirnile(l are eligtble lo act as auditors in lemis of se¢lion 1212 of Ihg Companies Act 2008. Page 7
MARSHA PHOENIX MEMORIAL TRUST IA conwany limitsd by guarantee) STATEMENT OF FINANCIAL ACTIVMES IINCORPORATING114COME AND EXPENDITURE ACCOUMT) FOR THE YEAR ENDED 31 MARCH 2021 Restricted Unw¢stri¢tsd fitnds funds 2021 2021 Total fund$ 2021 Total funds 2020 Incom• from: Dtsnalions and legatyes Charitable actilieS Other trading actiwties Itwestments 14.910 3.037 559,883 4.708 2,733 17,947 S59,883 7,926 2,733 16.388 533.386 9.743 1.375 3.218 Total Incom• Expenditure on: Charitable activities 18.128 570.361 588,489 $60.892 21.228 513.643 534,871 480,742 Totsl exp¢nditur• 21.228 S13,643 534,871 480,742 Net movement in lund$ Reconciliation of funds: Totsl funds brought fOard Net movement in lunds 13,1001 S6,718 S3,618 80.150 157.726 13.100) 726.S10 56.718 884,236 53,618 804.086 80.150 Total funds carrfed lorward 154.626 783.228 937,854 884.236 The Ststement of financial aCtiVe$ inchjdes all gains and lossès recognised in the year. The notes on pages 11 to 24 fom) part ofthese finan(¥al statements. Page 8
MARSHA PHOENIX MEMORIAL TRUST IA company limited by guarantee) REGISTERED NUMBER: 02552186 BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Nots Fixed a55ets Tangible assets 13 304.834 314,014 304.834 314,014 Current assets Debtors Cash at bank and in harKI 14 16.839 631,123 44,128 531.986 647.962 576.114 Creililors". amwnls falling due wlhin one year 15 {14.9421 14.5901 Net current assets 633,020 571.524 Totsl ¥$sets les$ current li•bilities 937.154 885.538 credito.. amounts falling due after more Ihan one year 16 11.3021 Net assets excluding penslon asset 937,854 884.236 Total net assets 937,B54 884,236 Charlty fund5 Restricted funds Unrestrided fvnds 17 17 154,626 783.228 157,726 726,510 Total funds 937.854 884,236 The entity was entitled lo exemptN)n from audil under section 477 of the Companies Act 2C(6. The members have not required the entsty to obtain an audrt for the year in queslion in accordance with section 476 of the Companies Act 2. However. an audrt is requi in a¢(Y)r¢Jan with sedion 144 of the CharItS Acl 2011. The Trustees ad(novledge their responsibilities for comptyry'ng with the quirementS of th• A¢t wrth re$pe¢t to accounting records and preparation ol financial statements. The fjnarrial statements have been pared in accordance with Ihe provisions applicatle lo eniities subpct to ihe smau companses ¥egime. The finanoal statements were approved and aulhorised for issue by Trustees and signed on their beham by.. W Phoenix Dale- 9 August 2021 Page 9
MARSHA PHOENIX MEMORIAL TRUST IA ¢ompany limiw ty guarant••} STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 C•$h flows from op¢rJting a¢tivibes Net cash used in operating activrties 96.404 66,281 Cash flows from investing activities Dividend$, interests and rents from invesknents 2.733 1,375 M•t cash pro¥id•d by Inv•sting aetl¥itOès 2.733 1.375 Cash 110 from financing activilies Net cash provlded by financlng actfvltles Chang• In cash and cash •quivalents in th• year Cash •)d ¢ash equNalenls al the begM)ning of Ihe ar 99.137 67.656 531.986 464,330 Cash and ¢a$h ¢qufvalents at the end ofthe year 631.123 531,986 The noltrs M pages 11 to 24 fonn part of these finanoal slatements Page 10
MARSHA PHOENIX MEMORIAL TRUST IA ¢ompany limitod by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2021 General information Marsha Phoenix Memorial Trust i8 a company INnrted by guarantee (Irwraled on 25 Odober 1990, registered number 025521861 and a regislered tharity {tharty number 1063698) in England and Wales. Accountlng policies 2.1 Basls of preparation of financial statements The financial ststement5 have been ppared in accordance wth the Charities SORP (FRS 1021- Ac£ounling and Reporting by Charrties." Slalemert ol Recommended P(adi¢e applicable to charities preparing their accounts in accordarKe with the Finanoal Reports"ng Standard applicable in the UK and Republic of Ireland IFRS 102} {effective 1 January 20191. the Financial Reporting Standard applicable in Ihe UK and RepublK of Irdand (FRS 102} and the Companies Act 2C(6. Ma(sha Phoeni¥ Memorial Trust meets Ihe definition of a public beneffi entity under FRS 102. Assets and lialitIeS are wiib-alfy reco9nised at his1¢yi1 cost or transxlion value unless oiherwise Staled in the relevant accounting policy. 2.2 Income l incomè ts recognised on( the charity has enb"Yement to Ihe income, 1¢ is probable that Ihe irKome will be receive(J and the amount of income recwvable Can be measLtr&(I reliably. The reCognon of income from lega¢ie$ is dependent M establishing entrfement. the prcbability of receipt and the atmlity to estimate with suffiCnt a¢18¢Y the amount ceivable. Ewdence of entiuemeni to a lega exists vthen the iarity has sufficient evidence Uvt a 9rft has been left to them (through knowledge ol the existence of a valid will and Ihe death of the benefa¢tor} and the &xeculor is satisfied thal the property in que51ion wil not be required to satisfy claims in the estatè. Receipt of a legacy must be recognised when il 15 probable thal (( will be rèceived and the lair valve of th& amount receivable. which generamy be the expected cash amourrt to be dislributed lo the Charity. can be reIrab measured. Grants are included in the Statement of finanoal actmties on a receivable basi5. The balan¢e of income receNeil for Spe purposes bul not expended during the period is shown in the relevanl funds on the Balance sheet. whe incomè is received in advance of entidement ol receipt. ils legnItIOn is deferred and induded in edItorS as deferred income. Where entillemenl occurs before incom¢ is received. the income is acuu¢d. Income tax re¢ovtrable in relaiion to donations receNed under Gift AKI or deeds of covenant is recognised at the time of the donat. In¢ome tsx recoverable vi la110n lo investmenl incTrme is recognised at Ihe time the investment income is receivable. 2.3 ExndIture Expenditure is rec4Jgnised once there is a legal or construdive obligation lo transfe( economic benefil to a third party, (( is probable Ihal a transfer of eujnomic beneffts will be required in settlement and th¥ amount ol the otAigation can be measured reliably. Expendrture 1$ dassified by a¢tNty- The costs of èach aciwity are made up of the total of direci costs and shared costs. including SUPPOrt costs involved in underlaking eath actNity. Oirect costs attributable to a single adiwty are allocated directly lo thal activrty. Shared costs which contribute to morè ihan one adivty and svpport costs wh¢¢h are not altributable to a singk activity are appJrb"oned between those activilies on a basis consi$lenl with the Lose of resources. Central staff costs are alo¢ed on the basis ol time spent, and depreciation charges allocated on the wtJn ofthe asseys use. Page11
MARSHA PHOENIX MEMORIAL TRUST IA Company limited by gu#r•nts¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies (continu> 2.3 Expendliure {conllnu•dl Expenditurè on ¢haritat4e adivihes is InrJjrd on directy undertaking th8 actmties which furlher the ¢haritys objeciives, as well as any assooed support costs. l expenditure is indusive of irrec4)veraUe VAT. 2.4 Tangible fixed assets and depreclat5on Tangible fixed assets costing £NIL or more are capitalised and Teeognised when futur¢ e¢onomi¢ benefits are probable and the cost or value of Ihe asset can be measured reliably. Tangible fixed assets are initially recognised at cost. AfteT rett)gn.On. under Ihe ¢osl model, tangible rixed a55e15 are measured at cJJst less accJJmulated depretxatKJn and any a¢¢umulaled impaiment losses. All costs inojffed to bllng a tsngible fixed asset into its inlen¢Jed worktng condition Should be induded in the measurement of cost. At each repoth'ng dale the chanty assesses whether there 15 any indulion of impairnent. 11 su¢h indicalion exists, the recoverable amount of the asset is delerrnined lo be the higher of its fair value less costs to Sell and its value in use. An impairment Ios5 is recognised where the carrwng amount exceeds the reVerable amount. Depre¢iation is charged so as to allocate the cost of tangible red assets less Iheif residual value over their esbmale(l useful lives, ung th¢ straighl-fine method. Depreciatn ts proed on the Ic4n9 bas'. Freehold property 2.$ D•bto Trade and other debtors are recognised at the setuement amovnl after any trade dis¢ouftl offered. Prepaymen15 are valued at the amount prepaid net ofany trade discounts due. 2.6 Cash ¥tk and Sn hand Cash al bank and in hand inclLt(les Cash and ShOrt-le highly liquid investments with a short maturity of three rnonths or less from the date of wuisrtion or opening of the deposit or similar accounl. 17 LSabS1ities and provlskns Liabilities are recognised vthen there is an OblatIon at ihe Balance sheet date as a resuA ol a past evént. it is probable that a transfer ol economic benèfit will be required in settkmenl, and the amount of the seluemenl ¢an be estimated reh'abty. Liabilrtiès arè recognised at thè amount that the charity anlicApates rt will pay to settle the debl or Ihe amount il rK¢ived ?.¥ advanced pavments for the 9oods or services it musl provide. Provisions are Measu al the best eslimate of the amounts required to settle the obligation. Where the effect of the t(me vafue of ffloney is malellal. the provis(on is based on the present value of those afflounls. dis¢ounled al the pre-lax discount rate th* refbects the risks specjfic to the liability. The unwindin9 of the discount 15 re¢¢gnis in the Statement of financial actiwties as a finance ¢osl.' Page 12
MARSHA PHOENIX MEMORIAL TRUST IA company limited by guarantè•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2021 Accounting pollcies Icontinuedl 2.8 Flnancial instruments The charity onty has financial assets and ffinanual lsabilities of a kind that qualify as basic financial instruments. Basic financial instruments are lnitka1 recognised al transaction alue and subsequently measured at their settlement value t•thh the exception ol b¥nk loans which a $uLMquenUy measured at amorlised cost using the effeclNe interest method. 2.9 Financè lèases and hirn pur¢has• Assets obtsined under hire purchase witracts and finance leases are capitalised as tangibte fixed assets. Assels acquired by finance lease are depreoated over the shorter of the lease term and their useful lives. Assets acquired by hire pur¢hase are depreciated over Iheir useful lives. Finance leases are those where subslantialty all of Ihe beneffis and risks of ownership a assumed by the charity. Obligations under such agreements are included in credrtors. net of the finance charge allocated to future periods. The finance element of the rental Pallent is charged to the Statement ol finanoal aclwities so as lo produce a consianl peiiodi¢ rale of charge on the net olgation oulslanding in each period. 2.10 Pen541)n$ The charity operates a defined conth"bution pension scheme and the pension thafge represents the amounts payable by the thaiity to the fund in respe ofthe year. 2.11 Fund accounting General fund8 are urwestri¢ted lunds which are available for use al Ihe discreiion ol the Trustees in furthèrat)ce of the 9eneral objectNes of the chanty and which have nol been designated for other purposes. Designated fvnds cornprise unrestricted funds Ihal have been set asidè by the Tnjstees lor particular purposes. The ain and use of e¥¢h deygnaled fvnd is sel out tn the notes lo the financjal siatemenis. Restricted lunds are fvnds whith are lo be used in a¢¢ordance wilh 5pe¢ifi¢ restriciions imposed by donor5 or whKh have been raised by the thar(ty for pa"cular purposes. The costs of raising and administering such fvnds are charged against the 4)ee4fi¢ lurtd. The aim #rtd usè ol each restricted fvnd 15 sel OLrt in the notes to the financial statements. Investrnent income. 9ains and h)sses are alocated to the appropriate fd. Incom• from donations and légacles Restrictrd Unrestricted fund$ fvnd$ 2021 Totsl fitnd$ ?Q21 2Q21 Donat$ Gwls 3.037 3.037 14,910 14.910 14,910 3.037 17.947 Page 13
MARSHA PHOENIX MEMORIAL TRUST IA company limit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from donatlons and legacles Iconllnuedl ReStrle Unfeslricted funds funds 2020 2020 Total funds 2020 Donats'ons Grants 6.388 10.( 10.C 10.C4XI 6.388 16,388 In¢ome from eharltablè actl¥iti•s Unrnstricted funds 2021 Totsl funds 2021 Tressillran Road Erlanger Road 494,911 64,972 494.911 64.972 559,883 SS9.883 Unrestricted funds 2020 Total funds 2020 Tressinian Road Erlanger R08d 460,695 72.691 460.695 72.691 533,386 533.386 Incoffle from other tradkng actlvltles Incom• from fundrnising •v•nts Restricted UnreBtricted funds fvnds 2021 2021 Total fund5 2021 Fun run and other lundraiwng #0M9 3.218 4.708 7.926 Page 14
MARSHA PHOENIX MEMORIAL TRUST {A company limited by 9uarnnteèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from other trading activities Iconlinued) Ineomè from lundralslng events {continuedl Restricled Unrestricted fund$ funds 2020 2020 Total funds 2020 Fun run and other fvndrai$in9 inwme 4.033 5,710 9,743 Investment Incom• Unrestricted fund$ 2021 Total lunds 2021 Interest ree*ived 2.733 2.733 Unrestricted funds 2020 Total funds 2020 Inte$1 received 1.375 1,375 Anatysb of oxpÈndliur• on eharllable actlvlties Summary by lund typ¢ Restrlcted Unrestrlctgd funds funds 2021 2021 Total fund5 2021 Tressillian Road ErlanAec Rog0 21.228 429.494 84.149 4SO,722 84,149 21,228 513,643 534,871 Page 15
MARSHA PHOENIX MEP•lORIAL TRUST IA ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Analys1$ of expenditurn on chafitable actlvltles {continuedl Synwnary by lund leontinuedl Restn"cled Unrestricted funds funds 2020 220 Total funds 2020 Tressillian Road Erfartger Road 31.415 374.658 74,669 406,073 74,669 31.415 449.327 480,742 Analysis of expenditure by activities Actlvlties undertaken directly 2021 Support ¢o$ts 2021 Totsl fund$ 2021 Tressillian Road Erlanger Road 437,545 83.006 13.177 1,143 450,722 84.149 520.$51 14.320 534,871 Actiwties undertaken dire¢t 2020 Support costs 2020 Total lunds 2020 Tressillian Road Erfanger Road .558 73,562 9,515 1,107 406.073 74.669 470.120 10,622 480,742 Page 16
MARSHA PHOENIX MEMORIAL TRUST IA ¢ompany limited by guarnnteel MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Analysi$ of exp¢ndlturn by aclfvlties (continued) Analysis of direct ¢Mts Tr•ssillian Road 2021 Erf#ngèr Road 2021 Totsl fvnd$ 2021 Staff costs Depreciats"on Resident welfare Rates and water Lit and heat Repairs and maintenance Insurance Telephone Office expenses Advertising and computing Legal and professional fees Rent payable lo L8Q RecruFlment 321.830 9.180 32.750 36.378 358.208 9.180 35.000 5,507 15.838 30.576 6.212 4,677 4,713 11.022 6,220 30,619 2,779 2.250 2.438 6.051 3.400 1,366 504 9,787 27.176 4,173 4.713 11.022 6,220 30.619 437,$45 83,006 $20,551 TressillTran Road 2020 Erlanger Road 2020 Total funds 2020 Staff cosls Depreciation Rèsident welfare Rates and water 299.011 9.180 26.193 2.011 6,558 19.326 4.916 2.590 4.573 12.758 33,192 332,203 9,180 28,965 4.553 9,270 25,240 6.321 3,005 4,573 12,758 8,222 23,994 1.836 2.772 2,542 2,712 5.914 1.405 415 Light and heat Repairs and maintenance Insurance Telephone Office expenses Advertising and compuling Legal and profeSOnal fees Rent payable to L&Q Bad debts 616 23.994 396.S58 73.562 470.120 Page 17
MARSHA PHOENIX MEMORIAL TRUST IA company lomit•d by guaranlee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2021 Analysis of expenditure by a¢livib¢s l¢ontinued Analysls of support costs T$s1111¥fi Road 2021 Erfanger Road 2021 Total funds 2021 Tfavel cosls Office expenses Staff training Governance $ts 262 2.530 2.980 143 1.000 405 3.530 2.980 7.40S 13.1n 1.143 14.320 TressillBn Road 2020 Erlanger Road 2020 Total funds 2020 Travel costs Officè expenses Staff training Goveman¢e ¢ost$ 199 1,9JO 4.339 3.077 107 1.TrJO 306 2,900 4,339 3.077 9.515 1.107 10.622 Auditots. rgmunerdtion 2021 2020 Fees payable to the charitys audit for the audit of the charivs 8nnual accounts 2,100 Fees payaWe to the charivs audilor in rèspect ot. All non-au(Jit services not Includ above Page 18
MARSHA PHOENIX MEMORIAL TRUST IA company limited by guarante¢l NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 10. Staff ¢osts 2021 2020 Wages and salaries Sooal seojrity costs Conlribution to defirted C4)nlriiKAion wsK)n schemes 289.595 58.951 9.662 301.458 25,551 5.194 3S8,208 332,203 The average number of pefson$ employed bythe charty during Ihe year was as folk)w5'. 2021 2020 No. EMOYeeS 16 18 No ernployee received remuneraiion amounting lo more than £60.C(l) in either year. 11. Penslon eommlb71ents The ¢hafity operales a define pension cxMtribubon pensK*n scheme. The assets of the scheme are held separately from those of the thanty in an indePendY administered fund. The pension cost charge for the year was £9.662 12020- £5,194). Conlribulion5 totalling £1.72212020- £NIL) were payable to the fund al the balance sheet dale and are induded in creditors. 12. Trustees. remunerntion and exp•n¥ During Ihe year, no TnJslee5 receNed any remunerntion or other benefils12020- £NIL). During the year ended 31 March 2021. no Trnslee expenses have been IncUdI202O- £NIL). Page 19
MARSHA PHOEMIX MEMORIAL TRUST IA ¢ompany limlt¢d by guarantee) NOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2021 13. Tanglble fixed a$sets Freehold property Cost or valualion At 1 April 2020 449,812 Al 31 Mah 2021 449,812 Depreclat5on Al 1 April 2020 Charge for the year 135.798 9.180 Al 31 March 2021 144.978 Net book valu• Al 31 Mar¢h 2021 304.834 Al 31 March 2020 314,014 14. Debtors 2021 2020 Du• wlthln on• yèar Trade debtors Prepayrnents and accwed in¢¢)me 10.142 6.697 10,155 33,973 16.839 44,128 15. Cr•dltors: Amounts falling due within one year 2021 2020 uthèr taXaln and sorJal securjty Obligations under finance lease and hite purthase contracts Other ¢reditors A¢¢ruals and deferred ints)me 7.452 1.302 1.396 4.792 1.735 2,855 14.942 4.59) Page 20
IARSHA PHOENIX MEMORIAL TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2021 1& CTrditors: Amounts falling dye aftor mor• than one year 2021 2020 Net OblatIonS under finance lease and hire purchase Cntracts 1,302 17. Statement of lunds Stat¢ment of lund$- ¢yrr•nt ar Balan¢e at 31 March 2021 Balance at 1 Aprll 2020 kncom• Expend5ture Unrestrlctsd funds D•signated funds Pension reserve 37.041 37.041 General fvnd$ Gener Funds- *1 funds 689,469 570.361 {S13.8431 746,187 Total Unmtri¢t•d funds 726.510 570,361 1513,6431 783.228 Restr5cted funds Capital expenditure Resettlement Fun njn 144M17 11.923 12.9721 141,435 11,892 3.211 10.000 4.910 146141 110.0001 13.6111 Lottery grant Laa Place Marker 1,299 157.726 18.128 121.2281 154,626 Total of funds 884,236 588.489 1534.8711 937,854 Page 21
MARSHA PHOENIX MEMORIAL TRUST IA Company liTrMted by 9arantee) NOTES TO THE FIIIANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2021 17. Statement of funds {contlnued) ststement offvnds - priorar Balance at 31 March 2020 Balance al 1 A 2019 Income ExpenLllure Unr•strlet•d ftmd$ Deslgnat•d lund$ Pension reserye 37.041 37,041 General fvnds General Funds- all funds 591,936 546.859 (449,3261 689,469 Tolal Unrnstrietsd funds 628.977 546.859 (449,326} 726.510 Restrfcted lund$ Capital expenditure Resettlement Comic Relief Fun run Lottery gwt 147,380 12.095 5,829 9,804 12.9721 11721 15,8291 112,4421 110,0001 144.408 11,923 4.033 10,000 1.395 175.108 14,033 131,415} 157.726 Total of lund$ 804.085 560,892 {480.7411 884,236 18. Summary of fvnds Summary of funds- current year Balance at 31 March 2021 Balance at 1 April 2020 Inme Exp¢nditur• Deslgnated fund5 General fijnds Reslricted funds 37.041 689.469 1S7.726 37.041 746.187 154,626 S70,361 18,128 1513,6431 {21,2281 884.236 588.489 1534,8711 937.854 Page 22
MARSHA PHOENIX MEMORIAL TRUST IA Company limhttd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. Summary of funds Iconllnuedl Summary offunds- prlor y•ar Baknce al 31 March 2020 Balance at 1 Apnl 2019 Income Expen(lue Designated fvnds General funds Restricted funds 37,041 591.936 175,108 37.041 689,469 157.726 546.859 14.033 {449.326} (31.4151 804,085 560.892 {480,741} 884,236 19. Analysis of net assets between fvnd$ Analy$l$ of net assets beiween funds- ¢urront yr Re$trlcted Unrestrlctsd funds funds 2021 2021 Total fvnds 2021 Tangible fixed assets Cuffenl assets Creditors due within one year 147,380 7,246 157,454 640.716 {14.9421 304,834 647.962 114.9421 Tolal 154,626 783,228 937,854 An¥ly$i$ of a$$ots between fvnds- prior year Restricted UMestricted lunds funds 2020 2020 Total fvnds 2020 Tangible fixed assets Current assets Ctedilors (Jue within one year Creditors due in more than one year 147,380 10,346 166,634 565,768 {4.590) (1.3021 314.014 576,114 14,5901 11.302} Totsl 157.726 726.510 884,236 Pa9e 23
MARSHA PHOENIX MEMORIAL TRUST IA company limitsd by guardnt•el MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMDEO 31 MARCH 2021 20. Reconciliation of net movement in funds to net cash flow from op•rating activitie$ 2021 2020 Net income for the year las pef Stalement of FanCial ACtMl 53.618 80.150 Adjustments for. Depreciation charge5 Diwdends, interests and rents frtyn inveslmwts Deueasel(in¢rease) in debtors Increase in uedrtors 9.180 12.7331 27.288 9.050 9,180 11,3751 122,74n 1.073 Not ¢a$h provided by opeTatlng actlvities 96,403 66,281 21. Analysis of cash and cash •qulval•nts 2021 2020 Cash al bank and in hand 631.123 531.986 Totsl cash and cash equivalents 631.123 531.966 22. Analysls of chang•s Sn net debt Changes in market value and exchange At 1 April rate At 31 March 2020 Cash flows mvemnts 2021 Cash al bank and in hand Finance leases S31.986 13.03n 99.137 631,123 (1,3021 1.T35 528.949 99.137 1.735 629.821 Page 24