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2021-03-31-accounts

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

Report of the Trustees and Unaudited Financial Statements FOR THE YEAR ENDED 31 MARCH 2021

Prepared By: Greywalls Accountants Limited 13 Isis Lake Spine Road South Cerney Cirencester GL7 5LT

Phoenix Enterprises (Swindon) Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES

Mrs E Rees Mr M Bowden Dr N Griffiths Mr M Neilson Mr K Assinder Mrs J Newton

REGISTERED OFFICE

Unit D Athena Avenue Elgin Industrial Estate Swindon Wiltshire SN2 8EJ

COMPANY NUMBER 04358845 CHARITY NUMBER 1094101

ACCOUNTANTS

Greywalls Accountants Limited 13 Isis Lake Spine Road South Cerney Cirencester GL7 5LT

page 1

Phoenix Enterprises (Swindon) Ltd

ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS

Page
Report of the Trustees 3
Independent Examiner's Statement 5
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 14
Detailed Statement of Financial Activities 13

page 2

Phoenix Enterprises (Swindon) Ltd

FOR THE YEAR ENDED 31 MARCH 2021 TRUSTEES' REPORT

The Trustees, who are also directors for the purposes of company law, have the pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 March 2021.

STRUCTURE GOVERNANCE AND MANAGEMENT

The year 2020/21 has seen several challenges for Phoenix Enterprises (Swindon) Ltd, mainly due to the impacts of Covid 19 and the associated lockdowns.

Covid 19 and the various lockdowns caused significant disruption to both the production work and the support provided for our Service Users. The charity was forced to close for 6 months during the 2020/21 period. During this time, all employees were furloughed. However, volunteers were still able to provide some support to Service Users during the lockdown periods e.g. Zoom quizzes, providing food donations, carrying out welfare checks, engaging in group chats and regularly keeping in touch via telephone, group chats and social media (1100 contacts were made during the period), helping to alleviate the concerns, anxieties and confusion amongst Service Users. We also sourced and distributed some 240 welfare packs of food and hygiene essentials to isolating Service Users to ensure their physical well-being.

Due to the Covid 19 pandemic and consequent lockdowns, production had to cease for a period resulting in our commercial income being significantly reduced. Post lockdowns, work re-started but was significantly lower than target due to the impacts that Covid 19 had on Clients and their supply chains.

Our commercial income for the period was £31,258.

We were able to obtain £157,034 in fundraising and grants from various charitable trusts, which helped the charity survive the difficult year. This amount includes circa £29k in Job Retention Scheme Payments (Furlough) from HMRC and circa £22k in Covid Business Support Grants from The Government, distributed by Swindon Borough Council (who were very supportive in the process).

We would like to express our sincere thanks for the major financial support received from the following organisations, whose grants and donations enabled Phoenix Enterprises to survive the various difficult circumstances during 2020/21. It ensured that we were able to continue to support our vulnerable Service Users in diverse and responsive ways and commit to our continued mission with confidence going into the future.

page 3

Phoenix Enterprises (Swindon) Ltd

FOR THE YEAR ENDED 31 MARCH 2021 TRUSTEES' REPORT

Whilst the year has been challenging, we have continued to achieve our main objectives, which are to provide work experience, training and support opportunities for people suffering with mental health and learning disabilities. The coming year will continue to focus on our targets and in supporting our Service Users with wider issues such as completing work capability assessments, ensuring they receive support for any housing or medical matters and in educating them with such things as CV writing, interview techniques and general relationship skills.

We will also work to expand our solid relationships with local employers who are open to offer supported work placements to those with mental health and learning disabilities.

For Phoenix Enterprises (Swindon) Ltd to continue over the next financial year we need to continue to increase our commercial contracts and associated income. Funding will also be crucial to our survival and will be a key focus in the coming year.

At the end of the financial year 2021, the Trustees agreed to increase our reserves policy to 4 months operating costs (previously 3 months), to be followed by 5 months in 2022 and 6 months in 2023, subject to satisfactory financial conditions.

Moving forward, we also need to mitigate our key risk of having only a 3-month notice period on our current premises. We are currently progressing options e.g. discussing the potential to increase our tenure with the Landlord and investigating alternative premises.

The Trustees would like to thank all supporters of our organisation, customers, stakeholders, services, and support partnership organisations. We would also like to take this opportunity to thank the dedicated team of staff and volunteers for their continued commitment to our charity and the individuals we support, especially during this challenging year.

The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.

This report was approved by the Board of Trustees on 23 December 2021

Mrs J Newton Trustee

page 4

Phoenix Enterprises (Swindon) Ltd

INDEPENDENT EXAMINER'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PHOENIX ENTERPRISES (SWINDON) LTD

I report on the accounts of the company for the year ended 31 March 2021 .

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

BASIS OF INDEPENDENT EXAMINERS STATEMENT

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINERS STATEMENT

In connection with my examination, no matter has come to my attention:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

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Phoenix Enterprises (Swindon) Ltd

INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

...................................................

Date: 23 December 2021

Greywalls Accountants Limited 13 Isis Lake Spine Road South Cerney Cirencester GL7 5LT

page 6

Phoenix Enterprises (Swindon) Ltd

Statement of Financial Activities

for the year ended 31 March 2021

Statement of Financial Activities
for the year ended 31 March 2021
Income
Income from generated funds
Donations and legacies
Income from Investments
Income from charitable activities
Total Income and endowments
Expenses
Costs of generating funds
Expenditure on Charitable activities
Total Expenses
Net gains on investments
Net Income
Transfers between funds
Gains/(losses) on revaluation of fixed assests
Net movement in funds:
Net income for the year
Total funds brought forward
Net funds carried forward		 Unrestric
ted funds
£
64,290
69
31,258
95,617
46,089
46,089
49,528
10,000
59,528
46,364
105,892		 Restricte
d funds
£
92,747
-
-
92,747
83,611
83,611
9,136
(10,000)
(864)
20,502
19,638		 2021
Total
£
157,035
69
31,258
188,362
129,698
129,698
58,664
-
58,664
66,865
125,529		 2020
Total
£
68,763
85
48,522
117,370
95,928
95,928
21,442
-
21,442
45,423
66,865

This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

page 7

Phoenix Enterprises (Swindon) Ltd

BALANCE SHEET AT 31 MARCH 2021
Notes
FIXED ASSETS
Tangible assets
4
CURRENT ASSETS
Debtors (amounts falling due within one year)
5
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
6
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CAPITAL AND RESERVES
Unrestricted funds
7
General fund
Restricted funds
8		 6,974
120,297
127,271
3,737		 2021
£
1,995
123,534
125,529
105,891
19,638
125,529		 5,849
63,254
69,103
3,217		 2020
£
980
65,886
66,866
46,364
20,502
66,866

For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board of trustees on 23 December 2021 and signed on their behalf by

.............................

Mrs J Newton Trustee

page 8

Phoenix Enterprises (Swindon) Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

1a. Basis Of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

1b. Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

1c. Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1d. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.

1e. Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment straight line 33%

1f. Pension Costs

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

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Phoenix Enterprises (Swindon) Ltd

2. EMPLOYEES

Average number of employees
3. PENSION CONTRIBUTIONS
Pension contributions
4. TANGIBLE FIXED ASSETS
Cost
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
For the year
At 31 March 2021
Net Book Amounts
At 31 March 2021
At 31 March 2020		 2021
No.
5
2021
£
2,174
2,174
Equipment
£
21,493
2,257
23,750
20,513
1,242
21,755
1,995
980		 2021
No.
5
2021
£
2,174
2,174
Equipment
£
21,493
2,257
23,750
20,513
1,242
21,755
1,995
980		 2020
No.
4
2020
£
969
969
Total
£
21,493
2,257
23,750
20,513
1,242
21,755
1,995
980

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Phoenix Enterprises (Swindon) Ltd

5. DEBTORS
5. DEBTORS
Amounts falling due within one year:
Trade debtors
VAT
Other debtors		 2021
£
600
3,614
2,760
6,974		 2020
£
1,578
2,438
1,833
5,849

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Other creditors		 2021
£
194
2,523
1,020
3,737		 2020
£
434
1,763
1,020
3,217

7. UNRESTRICTED FUNDS

General fund Brought
forward
£
46,364		 Incoming
resource
s
£
95,616
Outgoing
resource
s
Transfers
£
£
(46,089)
10,000
(46,089)
10,000
Outgoing
resource
s
Transfers
£
£
(46,089)
10,000
(46,089)
10,000		 Carried
forward
£
105,891
105,891
46,364 95,616 10,000

8. RESTRICTED FUNDS

Restricted funds Brought
forward
£
20,502		 Incoming
resource
s
£
92,746
Outgoing
resource
s
Transfers
£
£
(83,610)
(10,000)
(83,610)
(10,000)
Outgoing
resource
s
Transfers
£
£
(83,610)
(10,000)
(83,610)
(10,000)		 Carried
forward
£
19,638
19,638
20,502 92,746 (10,000)

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Phoenix Enterprises (Swindon) Ltd

9. TAXATION

The charity's activities fall within the exemptions afforded by the provision of Income and Corporation Taxes Act 1988. Accordingly there is no tax charge in the accounts.

10. GENERAL INFORMATION

The charity is a private company limited by guarantee, registered in England and Wales (company number 04358845) and a registered charity in England and Wales (charity number 1094101). The address of the registered office is Unit D Athena Avenue, Elgin Industrial Estate, Swindon, Wiltshire, SN2 8EJ.

page 12

Phoenix Enterprises (Swindon) Ltd

Incoming Resources

for the year ended 31 March 2021

Incoming Resources
for the year ended 31 March 2021
Incoming resources
Incoming resources from generated funds
Grants, donations and legacies
Income from investments
Income from charitable activities
Total income and endowments		 2021
£
157,035
69
31,258
188,362		 2020
£
68,763
85
48,522
117,370

page 13

Phoenix Enterprises (Swindon) Ltd

Expenses

for the year ended 31 March 2021

Expenses
Costs of generating funds
Charitable Activities
Heat and light
Rent
Repairs and renewals
Wages - regular
NIC employer (wages and salaries)
Pension contributions
Staff welfare
Equipment rental
Accountancy fees
Insurance
Stationery & office supplies
Telephone
Subscriptions
Charitable donations
Sundry expenses
Depreciation of equipment
Governance Costs
Resources Expended Governance Costs 1
Other direct expenses		 2021
£
5,292
23,014
3,652
76,311
1,059
2,174
4,871
2,155
850
3,087
336
398
-
894
279
1,242
125,614
-
4,084
4,084
129,698		 2020
£
-
3,667
4,049
67,386
1,136
969
4,823
1,595
850
1,290
909
374
52
275
599
490
88,464
689
6,775
7,464
95,928

page 14