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2021-03-31-accounts

Registered number: 03936956 Charity number: 1085074

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

UNAUDITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2021

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees’ report 2–5
Independent examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9-17

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

for the year ended 31 March 2021

Reference and administrative details of the charity, its trustees and advisers

Charity name

Phoenix Community Furniture Scheme Limited

Trustees

Ms J Jones (Chair) Mr D A Rees Mrs S Ward Mrs J A Clewer Mr K Davies Mr E Vaughan (appointed 7 June 2021)

Company registered number

03936956

Charity registered number

1085074

Registered office

Old Kerry Road Newtown Powys SY16 1BH

Independent Examiners

Whittingham Riddell LLP Chartered Accountants Hafren House 5 St Giles Business Park Newtown Powys SY16 3AJ

Bankers

HSBC Middleton Street Llandrindod Wells Powys LD1 5EU

Page 1

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

TRUSTEES’ REPORT

for the year ended 31 March 2021

The Trustees (who are also directors of the charity for the purposes of the Companies Act) submit their annual report and the financial statements of Phoenix Community Furniture Limited (the company) for the year ended 31 March 2021.

The Trustees confirm that the annual report and financial statements of the company meet the requirements for a directors’ report and accounts for Companies Act purposes and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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

a. CONSTITUTION

The company is a charitable company limited by guarantee and was set up by a Trust deed. Phoenix Community Furniture Scheme is registered in England and Wales, registration number 03936956.

The company is constituted under the Trust deed and is registered charity number 1085074.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed Articles of Association.

c. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The management of the organisation is led by a scheme manager.

Management decisions are taken after considering all possibilities and support, where appropriate, by the Trustees.

d. RISK MANAGEMENT

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for both the charity and its subsidiary. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with the bank, and active management of trade debtors and creditors balances to ensure sufficient working capital.

Non-financial risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular training for staff.

OBJECTIVES AND ACTIVITIES

a. POLICIES AND OBJECTIVIES

The principal objects of the charity are the relief of persons resident in the areas of Powys and the general adjoining area who are in conditions of need, hardship and distress, by the provision of furniture and other household items calculated to relieve the needs, hardship and distress of such persons.

There have been no changes in the objectives since the last annual report.

Page 2

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

TRUSTEES REPORT (continued)

for the year ended 31 March 2021

The Trustees have taken into account the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The Trustees consider the principles of public benefit are met by;

ACHIEVEMENTS AND PERFORMANCE

a. REVIEW OF ACTIVITES

Phoenix is a charity which accepts donations of furniture and electrical items, Bric a Brac and household items from (on state benefits, or equivalent low income), together with voluntary organisations within the area for a small handling charge per item.

Phoenix operates a refrigeration re-use scheme where redundant fridges are collected from households and amenity sites within the catchment area. They are PAT and function tested on Phoenix’s premises. Units that pass are made available to people on low income and state benefits for a small handling charge. The County Council gives Phoenix a set sum for every fridge or freezer diverted from landfill.

Phoenix is also engaged in an agreement with the Council and receives a set sum per tonne from all household effects that Phoenix are able to re-use, thus diverting from landfill.

Phoenix also provides unique volunteer opportunities, offering training and work experience to young people, the longterm unemployed, those lacking in confidence and self-esteem, the disabled and members of the public who have an interest in recycling. Our volunteers make a real difference by giving their time freely to help the charity collect and breakdown furniture, and staff the donation showroom. Our continued thanks go to them all. The total number of volunteer hours in the year was in excess of 672 hours. Payroll costs using employed staff instead would be at least £5,860.

Since September 2011, Phoenix has supplied furniture, white goods and where possible, bedding, curtains and clothes etc freely to people referred to Phoenix by organisations working to rehouse homeless families and individuals. This is the “Peace of Mind” project. Funding was initially received from Powys County Council however it has been necessary to fund this project from core funds in recent years.

Phoenix remains conscious, however, that to remain self-sustainable, we need to explore further activities which will generate additional income streams. To this end, we are collaborating with Powys County Council and the local housing associations to undertake house clearances for properties that have been vacated.

Phoenix has begun to collaborate more closely with other recycling and re-use enterprises with Powys with a view to cross fertilisation of ideas and operations.

b. INVESTMENT POLICY AND PERFORMANCE

The Trustees adopt a risk adverse policy in considering investment opportunities and performance thereof.

Page 3

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

TRUSTEES REPORT (continued)

for the year ended 31 March 2021

FINANCIAL REVIEW AND POLICIES

a. ANNUAL REVIEW

Despite challenging circumstances, the last financial year proved to be an improving one for the Charity with net assets increasing from £113k to £165k during 2020/21.

Funding continues to be difficult to source. The Charity continues to be reliant on our core income – that being from the showroom and the income streams from Powys County Council via recycling credits and clearances. During the year the Charity worked closely with the Council on its ‘Don’t Dump It, Donate It’ project, helping to collect unwanted furniture from households in the County.

Like many similar organisations, the Charity’s activities have been hugely impacted by the COVID-19 pandemic, with the donation showroom having to close in accordance with Government regulations. Additional expense was incurred ensuring the safety of the public, staff and volunteers during the periods that the showroom was open. The Trustees have assessed the potential impact on the future operations of the charity, taking into account its underlying financial resources and strength. We have taken proactive steps to manage the financial consequences to help ease the impact of the Coronavirus outbreak, including applying for COVID-19-related grants, and off-setting a proportion of wage costs through the Job Retention Scheme. Whilst continuing to review the key expenditure of the operation (staffing, transport and premises costs), we consider the Charity to be well positioned to manage the current situation and secure operations into the future.

b. RESERVES POLICY

Every member of the Charity has undertaken to contribute such amount as may be required (not exceeding £10) to the Charity’s assets should it be wound up while he or she is a member or within one year after ceasing to be a member. If the Charity is wound up or dissolved, its surplus assets will be given or transferred to a charity with objects similar to those of this Charity.

The trustees and directors have established a policy whereby the unrestricted funds not committed or invested in tangible or intangible fixed assets (i.e. free reserves) held by the charity should be sufficient to maintain its operations for a sufficient period to allow the Trustees to seek alternative sources should their current funding cease. As a minimum the Charity attempts to maintain sufficient reserves to cater for any potential redundancies and clawback of funds from funders. At 31[st] March 2021 free reserves totalled £160,248.

c. GOING CONCERN

After making appropriate enquires, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustees (who are also the directors of Phoenix Community Furniture Scheme for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

Page 4

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

TRUSTEES REPORT (continued)

for the year ended 31 March 2021

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Trustees on

and signed on their behalf by:

……………………………………………………………………………… Kevin Davies - Trustee

Page 5

PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

(A company limited by guarantee)

INDEPENDENT EXAMINER’S REPORT

for the year ended 31 March 2021

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PHOENIX COMMUNITY FURNITURE SCHEME LIMITED

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 7 to 17.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER’S STATEMENT

I have completed my examination. I confirm that no matters have come to 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 company as required by section 386 of the 2006 Act; or the accounts do not accord with those records; or

the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

25/07/2022

Tim Lunt BA FCCA MIRPM

Whittingham Riddell LLP Chartered Accountants Hafren House 5 St Giles Business Park Newtown Powys SY16 3AJ

Page 6

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating income and expenditure account)

for the year ended 31 March 2021

Note
INCOME FROM:
Investment income
2
Income from charitable activities
3
Other income
4
TOTAL INCOME
EXPENDITURE ON:
Expenditure on charitable activities
5
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE) FOR THE YEAR
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Restricted
funds
2021
£
-
-
-
-
-
-
-
-
-
-		 Unrestricted
funds
2021
£
18
57,993
76,822
134,833
83,695
83,695
51,138
51,138
113,477
164,615		 Total
funds
2021
£
18
57,993
76,822
134,833
83,695
83,695
51,138
51,138
113,477
164,615		 Total
funds
2020
£
65
90,328
-
90,393
97,016
97,016
(6,623)
(6,623)
120,100
113,477

The notes on pages 9 to 17 form part of these financial statements.

Page 7

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

BALANCE SHEET

for the year ended 31 March 2021

Note
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors due within one year
13
Cash at bank and in hand
CREDITORS:amounts falling
due within one year
14
NET CURRENT ASSETS
OTHER ASSETS
Debtors due after one year
15
NET ASSETS
CHARITY FUNDS
Unrestricted funds
16
TOTAL FUNDS		 £
£
4,367
23,132
136,897
160,029
(12,281)
147,748
12,500
164,615
164,615
164,615
2021		 £
£
7,033
25,712
58,250
83,962
(10,018)
73,944
32,500
113,477
113,477
113,477
2020

Registered in England and Wales. Registered Number: 03936956

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of the section 477 of the Companies Act 2006 ("the act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2021 and of its results of the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the companies Act 2006 relating to the financial statements so far as applicable to the company.

The financials statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

The financial statements were approved by the Trustees on

and signed on their behalf, by:

Kevin Davies - Trustee

The notes on pages 9 to 17 form part of these financial statements.

Page 8

(A company limited by guarantee)

PHOENIX COMMUNITY FURNITURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

1. ACCOUNTING POLICIES

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) (effective 1 January 2019) - (Charities SORP (FRS102)), and the Companies Act 2006.

Phoenix Community Furniture Scheme Limited constitutes a public benefit entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2 COMPANY STATUS

The company is a company limited by guarantee. The Members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

1.3 BASIC FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.4 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.5 INCOME

All incoming resources are included in the statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

As the value of donated items (furniture, white goods etc) cannot be reliably measured at the point of receipt, no value is recognised on these items until repaired and exchanged for a cash donation through our showroom or sold. The value of goods which can not be repaired is recognised when claimed by weight through recycling credits.

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under gift aid or deeds of covenant is recognised at the time of the donation.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Page 11

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

1.6 EXPENDITURE

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfuilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION

Individual fixed assets costing £100 or more are capitalised at cost and are depreciated over their estimated useful economic lives as follows:

Leasehold improvements - 25% reducing balance

Motor vehicles – 25% reducing balance Office equipment – 33% straight line

Other fixed assets – 25% reducing balance

1.8 DEBTORS

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 CREDITORS AND PROVISIONS

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 12

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

2. INVESTMENT INCOME
Investment Income - Bank interest
3. INCOME FROM CHARITABLE ACTIVITIES
Showroom
Furniture removals and house clearances
Recycling credits
Don't Dump It, Donate It' project
Total
4. OTHER INCOME
COVID-19 Business support grant
COVID-19 Business rates grants
COVID-19 Job retention scheme grants
Miscellaneous income
Total		 Restricted
funds
2021
£
-
Restricted
funds
2021
£
-
-
-
-
-
Restricted
funds
2021
£
-
-
-
-
-		 Unrestricted
funds
2021
£
18
Unrestricted
funds
2021
£
21,238
18,835
17,920
-
57,993
Unrestricted
funds
2021
£
25,000
20,000
31,735
87
76,822		 Total
funds
2021
£
18
Total
funds
2021
£
21,238
18,835
17,920
-
57,993
Total
funds
2021
£
25,000
20,000
31,735
87
76,822		 Total
funds
2020
£
65
Total
funds
2020
£
41,666
19,732
23,930
5,000
90,328
Total
funds
2020
£
-
-
-
-
-

Page 13

(A company limited by guarantee)

PHOENIX COMMUNITY FURNITURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

5. EXPENDITURE BY CHARITABLE ACTIVITY

SUMMARY BY FUND TYPE
Charitable activities
COMPARATIVES FOR SUMMARY BY FUND T
Charitable activities
SUMMARY BY EXPENDITURE TYPE
Charitable activities
COMPARATIVES FOR SUMMARY BY EXPEN
Charitable activities
6. GOVERNANCE COSTS
Accountancy Support Costs - prior year
Accountancy Support Costs - current year
Accountancy - prior year
Accountancy - current year		 YPE
Staff costs
2021
£
52,556
52,556
DITURE TYPE
Staff costs
2020
£
51,728
51,728		 Restricted
funds
2021
£
-
-
Restricted
funds
2020
£
-
-
Depreciation
2021
£
1,659
1,659
Depreciation
2020
£
2,676
2,676
Restricted
funds
2021
£
-
-
-
-
-		 Unrestricted
funds
2021
£
83,695
83,695
Unrestricted
funds
2020
£
97,016
97,016
Other costs
2021
£
29,480
29,480
Other costs
2020
£
42,612
42,612
Unrestricted
funds
2021
£
-
1,200
25
1,025
2,250		 Total
funds
2021
£
83,695
83,695
Total
funds
2020
£
97,016
97,016
Total
2021
£
83,695
83,695
Total
2020
£
97,016
97,016
Total
funds
2021
£
-
1,200
25
1,025
2,250		 Total
funds
2020
£
97,016
97,016
Total
2020
£
97,016
97,016
Total
funds
2020
£
1,300
(2,250)
250
950
250

Page 14

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

7. INDEPENDENT EXAMINATION REMUNERATION

The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,025 (2020: £950).

8. DIRECT COSTS

Purchases
Rent and rates
Insurance
Light and heat
Motor expenses
Telephone
Printing, postage, stationery and advertising
Marketing
Sundry expenses
Repairs and renewals
Canteen and cleaning expenses
Volunteer expenses
Bad debts
Bank charges
Wages and salaries
National insurance
Pension costs
Depreciation
Loss on sale of asset
Governance costs
NET EXPENDITURE
This is stated after charging:
Examination and accountancy fees - prior year underprovision
Examination and accountancy fees - current year
Depreciation of tangible fixed assets:
- owned by the charity		 2021
£
31
18,750
1,883
1,167
4,994
1,800
108
-
1,725
521
257
560
(6,109)
370
51,293
286
977
1,659
1,173
2,250
83,695
2021
£
1,659
25
1,025		 2020
£
21
18,000
2,073
1,635
8,251
1,806
320
520
5,888
630
296
1,330
70
1,522
50,371
401
956
2,676
-
250
97,016
2020
£
2,676
250
950

9. NET EXPENDITURE

During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL).

During the year, no Trustees received any reimbursement of expenses (2020 - £NIL).

Page 15

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

10. STAFF COSTS

Staff costs were as follows:

----- Start of picture text -----
2021 2020
£ £
Wages and salaries 51,293 50,371
Social security costs 286 401
Pension costs 977 956
52,556 51,728
The average monthly number of employees during the year was as follows:
2021 2020
No. No.
3 3
----- End of picture text -----

No employee received remuneration amounting to more than £60,000 in either year.

11. PENSION CONTRIBUTIONS

The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £977 (2020: £956). Contributions totalling £189 (2020: £184) were payable to the fund at the balance sheet date.

12. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
Disposals
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for the year
Elimination on disposal
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Leasehold
Improvements
£
5,654
833
-
6,487
4,101
458
-
4,559
1,928
1,553		 Motor
vehicles
£
53,421
-
(24,500)
28,921
49,419
541
(22,660)
27,300
1,621
4,002		 Office
equipment
£
10,734
-
-
10,734
10,575
155
-
10,730
4
159		 Other fixed
assets
£
6,924
-
-
6,924
5,605
505
-
6,110
814
1,319		 Total
£
76,733
833
(24,500)
53,066
69,700
1,659
(22,660)
48,699
4,367
7,033

Page 16

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

13. DEBTORS:
AMOUNTS DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
Other debtors
14. CREDITORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accruals and deferred income
Other creditors
15. DEBTORS:
AMOUNTS DUE AFTER ONE YEAR
Prepayments and accrued income		 2021
£
2,224
20,908
-
23,132
2021
£
2,376
2,469
7,247
189
12,281
2021
£
12,500
12,500		 2020
£
6,358
19,354
-
25,712
2020
£
806
1,817
7,211
184
10,018
2020
£
32,500
32,500

Page 17

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

16. STATEMENT OF FUNDS

UNRESTRICTED FUNDS
General funds - all funds
RESTRICTED FUNDS
Restricted funds - all funds
Total of funds
SUMMARY OF FUNDS
Unrestricted funds
Restricted funds
COMPARATIVES FOR STATEMENT OF FUNDS
UNRESTRICTED FUNDS
General funds - all funds
RESTRICTED FUNDS
Restricted funds - all funds
Total of funds
SUMMARY OF FUNDS
Unrestricted funds
Restricted funds		 Brought
Forward
2021
£
113,477
-
113,477
Brought
Forward
£
113,477
-
113,477
Brought
Forward
2020
£
120,100
-
120,100
Brought
Forward
£
120,100
-
120,100		 Incoming
Resources
2021
£
134,833
-
134,833
Incoming
Resources
£
134,833
-
134,833
Incoming
Resources
2020
£
90,393
-
90,393
Incoming
Resources
£
90,393
-
90,393		 Resources
Expended
2021
£
(83,695)
-
(83,695)
Resources
Expended
£
(83,695)
-
(83,695)
Resources
Expended
2020
£
(97,016)
-
(97,016)
Resources
Expended
£
(97,016)
-
(97,016)		 Carried
Forward
2021
£
164,615
-
164,615
Carried
Forward
£
164,615
-
164,615
Carried
Forward
2020
£
113,477
-
113,477
Carried
Forward
£
113,477
-
113,477

Page 18

PHOENIX COMMUNITY FURNITURE LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

for year ended 31 March 2021

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Current assets
Creditors due within one year
Debtors due after one year
COMPARATIVES FOR ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible fixed assets
Current assets
Creditors due within one year
Debtors due after one year		 Unrestricted
funds
2021
£
4,367
160,029
(12,281)
12,500
164,615
Unrestricted
funds
2020
£
7,033
83,962
(10,018)
32,500
113,477		 Total
funds
2021
£
4,367
160,029
(12,281)
12,500
164,615
Total
funds
2020
£
7,033
83,962
(10,018)
32,500
113,477		 Total
funds
2020
£
7,033
83,962
(10,018)
32,500
113,477

18. RELATED PARTY TRANSACTIONS

Included in Accruals and deferred income, an amount of £6,100 (2020: £4,900) has been accrued for Accounting support costs relating to services provided by K Davies, Trustee.

During the year £1,200 (2020: £1,300) has been charged to Accounting support costs relating to service provided by K Davies, Trustee.

Page 19