Charity registratlon number 1078467 (England and Wales) Company registration number 03867657 THE PHOENIX CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 THE PHOENIX CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr J Brown Mrs L Jones Mrs C McEwan Mrs LAshfield Mrs J Marsh Mrs C Home Mrs S Staves (Appointed 15 January 2025) (Appointed 27 Novemb6r 2023) Charlty number (England and Wales 1078467 Company number 03867657 Registered offlce Bamett Lane Wordsley Stourbridge West Midlands DY8 SPY Independent examlnor BK Plus Limited Churohficld House 36 Vicar Street Dudley West Midland5 England DY2 8RG Bankors Metro Bank Mery Hill Branch 50 Two Woods Lane Brierley Hill Wesl Mldlands DY5 1TA THE PHOENIX CENTRE CONTENTS Page Trustees report statement of Trustees r8sponsibilities Independent examine¢s report Staternent of financial activities Balance sheet Notes to the financial ststements 8-16 THE PHOENIX CENTRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees, who are also directors of the charity for the Purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31 August 2024. The trustees have adopted the provisons of the ststement of Recommended Practi￿ {SORP) "Accounting and Reporttng by Chaiities (FRS 1021. in preparing the annual report and financial statements of the charity- The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document. the Companies Act 2006 and "Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Structure. governance and management The charity is a charitsble company limited by guarantee and was set up 28 October 1999 and its company registration number is 03867657. It is govemed by a Memorandum and Artides of Association: its o¥ects are to advance the education of young children with learning difficultles andlor disabilities. The directors of the charitable company are its trustees for the purposes of charity law. The trustees are appointed by the Board of Trustees and serve for three years after which they may put thems61ves forward for re-appointmenl at the Annual General Meeting. At the regular trustees, meetings, the trustees agree the broad strategy and areas of activity for the trust including reserves and risk management policies and performance. Prospective trustees are identified from parents of children using the service and through Dudley CVS who can signpost prospective trustees to the Doard for initial consideratioi"i. All yiu¥peLlive Iruslees meet the Board prlor to appolntrnent to dlscuss their possible future role. Enhanced data barring checks are undertaken prior to a￿pting appolntrnent and a Code of Conduct is slgned on appointment by each trustee. As at 31 August 2024 there are six Trustees in place who are able to effectively manage the Charity- However, another positions are available to interested parties. be they parents, guardians or other appropriate members of the community., which is still proving a challenge to fill. In temis of govemance compliance. the minimum living wage and work place pensions are two specific issues that the Trustees continu811y monitor. In re18tion to pensions the implementation of the NEST Pension Scheme has gone well and during this year the lowest hourly rate was increased in April 2024 to £11.44 and in line with legislation would continue to be increased in a phased manner during April over the forthcoming years to ensure that we retained our valued staff. Day to day administration of the charity is carried OLrt by a Centre Manager who is employed by Dudley MBC, with key matters being drawn to the attention of the Chair of Trustees for consideration and discajssion with other trustees as required, either at the regular Trustee meetings or by direct contact in between the same. The Trustees, who are also the dirertors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were: Mr J Brown Mrs L Jones Mrs C McEwan Mrs L Ashfield Mrs J Marsh Mrs S Staves lappolnted 27 November 2023) Mrs C Home (appointed 15 January 2025) THE PHOENIX CENTRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and activities Our charity's purposes as set out in the objectives contained in the company's Memorandum ofAssociation are to.. - Provide specialist support to advance the education (including social and physical training) of the children in the area of benefit up to the age of 16 years with learning difficulties andlor disabilities. Enhance the development an¢Y educalion of such children by encouraging parents to understand and provide for the needs of their children and encouraging parents to take responsibility for and to become involved in the activities by which the objectives are furthered and promoted. Advance the education of such children by enabling them to interact with their parents and guardians and with children who do not have any leaming difficulties. The tnjstees have had regard to the Charity Commissions guidance on public benefit. The charity provides a public benefft by: _ Continuing to provide a specialist pre-school nursery provision for children 2 to 4 years old with a range of special needs whose familieslgLJardians reside with the area of Dudley Metropolitan Borough Council (DMBC) and beyond. There is limited specialist pre-school nursery provision for children under 4 with disabilities within DMBC area and as such demand exceeds the number of places available. Making evailable spaces for up to a maximum of 20 children per w88k from this specific disadvantaged group and engaging with parents and guardians at their hornes and within the setting to enable them to (iisblJSS LUI IL¥II Ik> di Id eduLdliuiidl TJ¥v8lupmeril ol Ihelr thlld. Endeavouring to 8nsure that the staff at the Phoenix Centre has the resources and training required to maintain the sUPPOrt and educational requirements of the children in their care. Achievements and performance On behalF of the Trustees, I have to r8POrt that 2023124 has in the main been a posltlve year for The Phoenix Centre, with staff retention being the main challenge for Ihe charity. This year marked the 50th Anniversary of The Phoenix Centre wilh a summer fayre and raffle. A small number of commemorative mugs were provided to staff and trustees (past and pres8ntl to mark this particular mileslone. During the year, suitsble suppliers were identified and quotes obtained for the supply and Installation of portable equipmenl for Ihe Sensory Room. This equipment has now been purchased and is proving to be a valuable asset for the staff and children alike. The balance of the sponsorship funding provided for this equipment (£1,602) will remain available as designated funding for the provision of additional sensory equipment that may be required in the future. The intake ofthe morning groups of children {Tuesday to Friday) has remained al a maximum of 10. with the intake of the aftemoon group (Monday to Frid8yI of children to a maximum of 5. Both cohorts received 15 hours per week per child. During 2024125 it is anticipated thal both cohorts will comprise of children with complex needs. with the morning and aftemoon groups numbering 5 children. The Trustees are proud of the fact that The Phoenix Centre is renowned for the quality of work and care, and the attention and professionalism of its staff continues to be acknowledge(I by parents and professionals alike. THE PHOENIX CENTRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Fundlng The Charity has been supported in its operation by Central Govemment Grant funding based on each individual child that attends the Phoenix Centre. along with donations and fundraising. From September 2023, Dudley Metropolitan Council will pay £90,000 per year up to August 2025. Other donations were received during the year from the local MP (IPSO donation). Centiica, Scouts, local businesses and Kinver Rotary. In addition, slaff and trustees ran a Halloween Stall during October 23 as well as a Summer Raffle in May 24, which also provided much needed funds. The collective sum realised from all of these generous donations was £4.142. Reserves policy The trustees aim to maintsin free reserves in unrestricted funds al a level which equaies to approximately three months of unrestricted charitable expenditure. Reserves It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expendilure. The Trustees consider that reserv85 Al this IAvel will ensure that. in the event of a significant drop in funding, they will bo able to continue the current activities while consideration is given to ways in which additional fvnds may be raised. This level of reserves has been maiiitained 11 Iiuuylivul Ili¥ yeijr. Designated reserve fundlng of circa £19,688 deposited in a CCLA account, is in place to meet ststutory redundancy payments to stsff who are entitled to receive these payments which have been calculated to be £3,663. In addition, a further £3.200 would be required to Cover the 1 year's additional insurance and the remairing 3 years lease costs. Therefore, the total payments from reseNes would be circa £6,863, leaving a contingency balance of £12,823 to meet any final utility or contracted payments. The Twstees wish to stress that they sincerely hope that it will not become necessary to tske the ultlmate and difficult course of action to reduce staff hours or indeed make some or all of the staff redundant- but they are mindful of Iheir legal responsibilities to ensure that the Charity does not become financially insolvenl. It is hoped that over the forthcoming year that these significant challenges are able to be addressed by the construclive engagement of all parties involved in both the safe operation and the funding of the Phoenix Centre. Transactions and tlnanclal position The Statement of Financial Activities shows a net surplus for the year of £53,634 (2023: £8,912) and reserves stand at £139,828 (2023: £86,194) in total. The report of the trustees has been prepared in accordance with special provisions of Part 15 of the Companies Act 2006 relaling to small companies and in accordance with the Statement of Recommended Practice (SORP) -Accounting and Reporting by Charities IFRS 1021". report was approved by the Board of Trustees. rown ector, Chalr Trustees 30 April 2025 THE PHOENIX CENTRE STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees (who are also directors of The Phoenix Centre for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of Ihe state of affairs of the charitable company and of the incoming reSou￿e$ and application of resources, including Ihe income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: seled suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP IFRS 102}. make judgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Stsndards have been followed, subject to any material departures disclosed and explained in Ihe financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that Ihe charitable company will continue in operation. The twstees are responsible for keeplng adequate accounting records that disclose Wlth reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and hence for taking reasonable step5 for the prevention and detectioi) of fraud aiid otliei- ii-regulai-ilie¥4. In so far as the trustees are aware: there is no relevant accounting infom)ation of which the charitable company's independent examiner is unaware. and the trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant accountancy information and to estsblish that the independent examiner is aware of that information. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the ffinancial position of the and enable them to ensur8 that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. THE PHOENIX CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PHOENIX CENTRE I report to the Trustees on my examination of the financial statements of The Phoenix Centre for the year ended 31 August 2024. Responsibililies and basis of report As the Trustees of the (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satlsfied myself that the financial statements of the are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the 's financial ststements carried out under sectlon 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151{b) of the Charities Act 2011. Independent examlnerfs statement I have completed my examinallon. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the Companies Aci 2006 other than any requirement that the financial stotomenls give a true and fair view. which is a matter considered as part of an independent examination. or the financial Statements have not been prepared iii accordance witli the methods aiid priiiciples of Il'ié Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concems 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 financial statements to be reached. nwi ns s Limited Chartered Certified Accounlanls Churchfield House 36 Vicar Street Dudley West Midlands DY2 8RG England Dated.. 30 April 2025 THE PHOENIX CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restrlcted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 4,142 146,993 1,851 4,142 146,993 1,851 16,209 66,752 752 16,209 67,252 752 500 Total income 152,986 152,986 83,713 500 84,213 Expenditure on: Charitable aclivitses 95,001 4,351 99.352 75,301 75,301 Total expendlture 95.001 4.351 99.352 75.301 75,301 Net incomel(expendltura) and movement In funds 57,985 (4,351) 53,634 8,412 500 8,912 Reconciliation of funds: Fund balances at 1 September 2023 80,079 6,115 86,194 71,667 5.615 77,282 Fund balances at 31 August 2024 138,064 1,764 139,828 80,079 6,115 86,194 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. THE PHOENIX CENTRE BALANCE SHEET ASAT31 AUGUST 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 11 2,789 148.977 2.553 86.287 151.766 88.840 Creditor5: amounts falling due within one year 12 (11,938) 12.646) Net current assets 139,828 86.194 The funds of the Restricted income fvnds Unrestricted funds 16 17 1,764 138,064 6,115 80.079 139,828 86,194 The company is entilled to the exemption from the audit requirement contained in section 477 of the Cornpanies Act 2006, for the year ended 31 August 2024. The director5 acknowledge thelr responsibilities for complying with the requirements of the Companles Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial ststements for the year in question in accordance with section 476. These financial ststements have been prepared in accordance with the provisions applicable to companies subject to the small compan16s regime. atements V￿re approved by the Trustees on 30 April 2025 MrJ rown ctOT, Chair Trustees Company registration number 03867657 (England and Wales) THE PHOENIX CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Ac¢ountlng policies Charlty Information The Phoenix Centre is a private company limited by guarantee incorporaled in England and Wales. The registered office 1$ Barnett Lane, Wordsley, Stourbridge, West Midlands, DY8 SPY. 1.1 Accountlng convention The charity is a private company limited by guarantee and incorporated in England and Wales. The members of the company are the trustees named on page 1. In the event of the charity being wound up. the liability in resped of the guarantee is limited to £1 per member of the charity. The charity conslitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletln 1 published on 2 Febnjary 2016), the Financial Reporting Standard appllcable In the United Kingdom and Republic of Ireland (FRS 102). The Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statemeiits al-e preseiite(i ii'i sl¥1 liiiy wl IiLlI is 1118 fuiiL'Iiuiidl LuiieiiLy uf Uie tylidiily aiid ruunded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have b88n consist8ntly applled to all years presented unless otherwise stated. 1.2 Going concem The financial statements are prepared on a going concem basis under the historical cost convention. The truslees now consider with the support of the local authorily that the charity can continue its activities for at least the next hvo academic years. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1A Income Income is recognised when the is legally entitled to it after any perfomiance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, un16ss perfomian¢e conditions require deferral of the amount. Income tax recoverable in r&lation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the has been nolified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. THE PHOENIX CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constNctive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each activty are made up of the total of dir￿1 costs and shared costs. including support costs involved in undertaking each activity- Direct costs attributab]e to a single activity are allocated directly to that aclivity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned behveen those actiwties on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asseys use. 1.6 Cash and cash equivalents Cash and cash equivalent5 include cash at bank and in hand and short temi deposits repayable on or within a three month noti￿ period. 1.7 Flnancial instruments The has elected to apply the provisions of Section 11 'Basic Financial Instrument5, and Section 12 '0ther Financial Instruments Issuos, of FRS 102 to all of it8 financlal instrurnents. Financial instnjments are recognised in the balance sheet when the becomes party to the contractual provlslon5 of the inslrument. Financial asset5 and liabilities are offset, wth the net amounts presented In the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabllty simultaneously. Baslc flnancial assets Basic financial assets, which include debtors and cash and bank balances, are Initially measured ai transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measU￿d at the present value of the future receipts discounted at a market rate of interest. Financ4al assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constiLutes a financing transaction. where the debt instrument is measLJred at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as cuThent liabilities rf payment is due within one year or less. If not. they are presented as non-current liabilities. Trade credilors are recognised initialty at transaction pri￿ and subsequently measured at amorbsed cost using the effective interest method. D•recognition of financlal lIa￿'11t1es Flnandal Ilabllllles are dere￿gnISed when the 's contractual obligations explre or are discharged or can￿lled. THE PHOENIX CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.8 Employee beneflts When employees have rende￿d seNice to the charity, short-temi employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that seNice. The charity operates pension auto-enrolment for eligible employees. Contributions are expensed as they become payable. 1.9 Rellrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accounting estimates and Judgements In the application of the accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estlmates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recogiilsed iii tlie pgi'iud iii wliiLlI Ilig esliiii