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2024-03-31-accounts

DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Examined by:

Purple Lime Accountancy Ltd Hartham Park Corsham Wiltshire SN13 0RP

DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES

Ms L Blanchard (appointed 20/12/23) Dr N Griffiths Ms C McDougall Mr M Neilson (resigned 09/11/23) Mrs J Newton Mr N Thompson (appointed 24/04/23)

REGISTERED OFFICE

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

COMPANY NUMBER 04358845

CHARITY NUMBER 1094101

ACCOUNTANTS

Purple Lime Accountancy Ltd Hartham Park Corsham Wiltshire SN13 0RP

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

CONTENTS

Page
Report of the Trustees 3
Independent Examiner's Statement 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Accounts 13 to 15
Detailed Statement of Financial Activities 16

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES' REPORT

The Trustees, who are also directors for the purposes of company law, have the pleasure of presenting their report and the financial statements for the charitable company for the year ended 31 March 2024.

INTRODUCTION

It has been a good year with some highlights, but some challenges too. We held a Strategy Day to ensure all trustees, staff and volunteers have clarity regarding our purpose, our intended outcomes, the activities we carry out to achieve these and the annual targets to deliver. We are grateful to Claire Gallagher from the Avon and Wiltshire Mental Health Partnership NHS for delivering valuable Mental Health Awareness & Communication training to staff and trustees. We redesigned our wellbeing assessment process to make it more meaningful and we introduced contracts with service users to help those working towards paid work to honour their commitments. We also improved our evaluation with Service User Feedback Forms.

We broke even despite a tough final quarter, achieved mainly due to a strategic decision to increase commercial income. Commercial income now covers 42% of our costs with the balance funded by grants and fundraising. We successfully entered ITV and the National Lottery’s The People’s Projects where we were shortlisted as one of the top five in our region, with a 3-minute TV programme airing in June ’23 - (www.thepeoplesprojects.org.uk/projects/view/phoenix rising). We were delighted to be awarded a 3-year £150,000 National Lottery Grant and proud to have raised over £9,000 on a Ben Nevis hike.

DWP Disability Employment, Swindon Borough Council Adult Social Care and NHS Community Mental Health are now regularly referring people to Phoenix and relationships with Horizons College and New College Swindon have strengthened. Our corporate volunteering has taken off and we have had 21 teams in, with a total of 176 volunteers. We are so grateful to them and especially to our wonderful long-standing volunteers whose dedication and help we thoroughly appreciate.

This year we focussed on our value-in-kind for service users. They aren’t paid, and yet come in week after week to volunteer in our warehouse. Many do this because we are helping them progress to paid work. They appreciate the employability skills they are acquiring, like resilience, timekeeping and following instructions. Through our support, a very pleasing 56% of our non-student attendees secured paid work, work placements, attended training courses or volunteered outside of Phoenix. However, many (around 30%) are unlikely to move on to paid work, either because their mental health or medication precludes it or due to the severity of their learning disability. They are fiercely loyal to Phoenix and a delight to work alongside. They come because they want to be part of our caring community, feel the benefits of real work and enjoy our social activities.

We had a very memorable and very wet Bournemouth trip and outings to the Panto, Fireworks and bowling. We were kindly donated 50 tickets for Swindon Town Football Club matches. We attended cooking classes, boxing classes and 15 people regularly attended fitness sessions at Bradley Gray Gym and Rise Fitness. Through the Multiply programme 25 people developed their practical maths skills like budgeting.

As ever, we have made a profound difference to individuals’ lives; examples include, a transformation from unkempt to volunteering at a charity, moving from alcohol issues to reliable attendance, personally addressing mental health needs, going back to college, showing marked improvement in social engagement, growth in confidence, travelling independently etc. We’ve been involved in trauma intervention and safeguarding referrals, helped sort housing and pensions etc. Without us there would be a negative effect on individuals’ physical and mental health. There’s no-one at Phoenix for whom we don’t make a difference to their life and we have loved working with every single person. I would like to say a heartfelt thank you to every member of staff, our trustees, our volunteers, our funders, the teachers, our advocates and, of course, our service users!

CWT) 6/28/2024

Clare McDougall CEO, Phoenix Enterprises

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

OUR WORK

Objectives and aims

Focus of our work

We work with adults experiencing short or long-term mental health issues, ranging from anxiety to depression, people with learning difficulties and people struggling to return to or get paid work.

Some of our people will be with us for just a few months and others have been here for over 10 years. Most are referred to us by GPs or mental health and support agencies. 70% take medication or attend GP appointments related to their mental health condition.

We provide each person with holistic support – advocating for them and working on their development, progressing towards paid employment and/or independent living, building self-confidence, self-esteem, and self-worth. We achieve this by providing the following services:

We aim to get our people that are able, into sustainable paid employment. We act as a stepping-stone towards jobs in competitive employment by:

We ensure that everyone is given the opportunity to realise their full potential, which for many means finding paid employment, coming off benefits for the first time, living independently and making their way in the world. We focus on what each individual CAN DO, not what their disability means they can’t do. It is key that our people receive the best possible chance of success and that mental health, learning or physical disabilities do not disadvantage them in their desire to learn, work, achieve and forge a career. Building better relationships with employment agencies, employers and the job centre allows us to educate and knock down the stigma barriers attached to employing people with disabilities.

The impact of the support given, skills gained, reduced social isolation, better housing, reduced stress and paid work is a long-term improvement to their physical and mental health and wellbeing.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

Without Phoenix, there would be significant impact on the public purse as well as the local community. Without Phoenix, our people would:

ACHIEVEMENT AND PERFORMANCE

In the year to 31 March 2024, 127 people with mental health issues and learning disabilities attended Phoenix.

We developed our work with DWP Disability Employment, Swindon Borough Council Adult Social Care, NHS Community Mental Health, The Harbour Project (refugees and asylum seekers) and The Nelson Trust (women’s refuge). We continued to offer supported work experience placements for students from Horizons College, New College Swindon, Green Labyrinth and Crowdys Hill School.

Employment opportunities

Through our employment support we increased the employability skills of all of our people. We supported 11 people to move into paid employment, 7 into work placements and a further 12 into voluntary work roles or work experience external to Phoenix across 18 different employers. 18 people gained training or qualifications with our support, adding meaningful contributions to their CV’s, which will inevitably help towards finding paid and sustainable work.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

We are continuing our partnerships with other training providers such as Seetec, IPSUM and Adult Community Learning to ensure we give each person at Phoenix the most varied options available for personal and professional development.

Travis Perkins is continuing to be a great success story as they have provided another two placements this year, a former Phoenix service user is thriving there as a full-time employee and they are open to offering more work experience. Recently the Teaspoon Café have been very supportive, taking on three of our service users on voluntary roles, two of whom are now being paid on a part-time basis. We recently developed a relationship with local community radio, Swindon 105.5, placing one service user with them who is thriving in his role as a budding radio presenter, and the promise to consider others that are interested.

FINANCIAL REVIEW

Production

We are very grateful to all of our commercial clients who provide us with work to assemble or package for many different types of products, including cardboard boxes, gift sets, speciality sets, seasonal goods, household consumables, fragile and delicate products. All proceeds from the commercial work we do is invested in our people – their rehabilitation, training and ongoing care.

Our people take great pride in their work, which helps rebuild their own personal sense of purpose, selfrespect and self-confidence, whilst gaining invaluable work experience. We are always mindful of the mental health and capability of our people who do the production work. We therefore work closely with our commercial clients to ensure we can deliver the quality of service within the timescales required – we pride ourselves on maintaining a healthy balance between the wellbeing of our people and the needs of our commercial clients.

Over the financial year, due to a concerted and strategic push, we managed to increase our commercial income to £94,685, an increase of 11% over the prior year (£85,020) and 41% over the year ended 31 March 2022 (£66,916). The printing industry is still going through a difficult time post Covid, affected by declines in demand for newspapers, magazines, catalogues and advertising material. This didn’t impact Phoenix in the first three quarters of the year, with record turnover £27,000 ahead of the same period in the previous year. However, in October, our largest customer was not successful in retendering one of their contracts. This reduced our revenue by £800 a week. In addition, in the last quarter, work has been hard to source, with other sales down by £1,800 a month. This has meant less work for our service users to do and our production staff have had to be increasingly creative in ensuring there’s work of the appropriate skill level for all service users every day. In March 2024 we signed up a couple of new customers/products so we are hopeful this trend will continue. Unfortunately, in Q4, one of our customers went into liquidation resulting in a bad debt of £3,757. Across the year we worked with 22 different clients, including two new commercial clients, with income ranging from <£500 to the major client we lost providing turnover of £18,267. The next highest value client brought in £14,927.

Key Operational Costs

Our total operating costs were £227,741. This included:

Fundraising

Our Ben Nevis hike raised over £9,000 with the balance of the £3,718 coming from fundraising at boxing matches and from the local lottery.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

Grants and Donations

We had to work increasingly hard to secure grants and donations – sending 193 applications, 13 of which were successful, 27 declined and we didn’t hear from 153. The successes totalled £127,275 (prior year £126,678) from the local council, various charitable trusts, companies and individuals, which helped Phoenix survive another difficult year in the challenging economic climate.

We would like to express our sincere thanks for the financial support received from all the organisations that awarded Phoenix grants and donations, ensuring that we were able to continue to support our vulnerable people in diverse and responsive ways.

The following organisations deserve specific mention due to the generosity of the amounts awarded:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustee appointment, induction and training

Nathan Thompson was appointed as a Trustee on 24[th] April 2023 Mark Neilson resigned as a Trustee on 9[th] November 2023 Leah Blanchard was appointed as a Trustee on 20[th] December 2023. We rotate the Chair position amongst the trustees.

Trustee nominations are the responsibility of the Board, made as needs arise. Trustees recruited after 1 January 2023 serve a maximum of 3 years from their election, with the possibility of a three-year extension by exception if agreed by the Board. Since April 2024 no trustees have left the Board. A new trustee, Martyn Hallows has been appointed.

A training and development programme for all trustees has been introduced by the Board. Other development opportunities for individual trustees, shaped to suit individual needs, are also made available. New appointees undergo an induction process to ensure they understand the work of Phoenix Enterprises (Swindon) Limited and the requirements for charity trustees generally.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

FUTURE PLANS

Production – we are budgeting to maintain our commercial income for the coming year at £96,000 in spite of this year’s Q4 downturn. This will take concerted effort and ingenuity. This means 42% of our costs will continue to be paid for by commercial income; making Phoenix less dependent on grant income. In order to deliver this income, we need to source additional customers and continue recruiting new service users through our partnerships with local community organisations.

We are planning to increase the number of service users we support over the coming years. We will also continue to develop our partnerships with DWP Disability Employment, Swindon Borough Council Adult Social Care, NHS Community Mental Health and local organisations like The Harbour Project (refugees and asylum seekers), The Nelson Trust (women’s refuge), and LIFT Psychology.

Employment for our people – we will continue to develop partnerships with local employers Travis Perkins and GXO (previously WH Smiths), where our people do work experience and get a right to interview for vacancies. We will also reach out to the various companies that have signed up to Ban the Box, the campaign to increase opportunities for people with convictions to compete for jobs.

Colleges – we will continue to seek opportunities to develop our partnerships with the local colleges.

Fundraising – we have a sponsored Scafell Pike hike and a concert already planned.

The Trustees would like to thank all our wonderful volunteers without whom we couldn’t provide the support we do for our people. We would also like to thank all supporters of our organisation including customers, donors, stakeholders, service providers, and support partnership organisations. In addition, we offer a huge thanks to our dedicated team of staff for their continued commitment to our charity and the individuals we continue to support.

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 29 April 2024.

6/27/2024 Ju awn Mrs J Newton Trustee

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

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

We report on the accounts of the company for the year ended 31 March 2024.

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 the firm that the charity is not subject to an audit under company law and is eligible for independent examination, it is our responsibility to:

BASIS OF INDEPENDENT EXAMINERS STATEMENT

Our 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 our examination, no matter has come to our attention:

  1. which gives us reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

  4. have not been met; or

  5. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

................................................... Date: 27 June 2024 Purple Lime Accountancy Ltd

Professional body: ACCA

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Income
Income from generated funds
Donations and legacies
Fundraising
Income from Investments
Income from charitable activities
Total income and endowments
Expenses
Costs of generating funds
Expenditure on charitable activities
Total expenses
Net income
Transfers between funds
Net income for the year
Total funds brought forward
Net funds carried forward		 2024
2023
Unrestricted
funds
Restricted
Funds
Total
Total
£
£
£
£
13,463
113,812
127,275
143,626
12,718
-
12,718
12,779
1,224
-
1,224
211
94,685
-
94,685
85,020
122,090
113,812
235,902
241,636
120,690
107,051
227,741
226,272
120,690
107,051
227,741
226,272
1,399
6,762
8,161
15,364
-
-
-
-
1,399
6,762
8,161
15,364
96,930
40,982
137,912
122,548
98,329
47,744
146,073
137,912

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

No employees received employee benefits excluding employer pension costs of more than £60,000.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

Notes 2024 2023
FIXED ASSETS £ £
Tangible Assets 4 2,521 2,901
CURRENT ASSETS
Debtors (amounts falling due within one year) 5 37,841 23,480
Cash at bank and in hand 114,243 122,800
152,083 146,280
CREDITORS: Amounts falling due within one year 6 8,530 11,269
NET CURRENT ASSETS 143,553 135,011
TOTAL ASSETS LESS CURRENT LIABILITIES 146,074 137,912
CAPITAL AND RESERVES
Unrestricted funds 7
General Funds 78,330 76,930
Designated Funds 20,000 20,000
Restricted Funds 8 47,743 40,982
146,074 137,912

For the year ending 31 March 2024 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 xx June 2024 and signed on their behalf by

6/27/2024 ............................. J aon

Mrs J Newton Trustee

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

1 a. 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.

1 b. 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.

1 c. 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.

1 d. 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.

1 e. 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%

1 f. 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.

1 g. Grant income

Grant income is accounted for using an accrual basis.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

2. EMPLOYEES
Average number of employees
3. PENSION CONTRIBUTIONS
Pension contributions
4. TANGIBLE FIXED ASSETS
Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
For the year
At 31 March 2024
Net Book Amounts
At 31 March 2024
At 31 March 2023
5. DEBTORS
Amounts falling due within one year:
Trade debtors
VAT
Other debtors
6. CREDITORS: Amounts falling due within one year
Trade creditors
Taxation and social security
Other creditors		 2024
2023
No.
No.
7
7
2024
2023
£
£
3,340
2,422
Equipment
Total
£
£
26,644
26,644
737
737
27,381
27,381
23,743
23,743
1,117
1,117
24,860
24,860
2,521
2,521
2,901
2,901
2024
2023
£
£
36,393
21,995
-
-
1,448
1,485
37,841
23,480
2024
2023
£
£
3,519
4,320
4,261
5,949
750
1,000
8,530
11,269

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

7. UNRESTRICTED FUNDS
General Funds
Designated Funds
8. RESTRICTED FUNDS		 Brought
forward
Incoming
resources
Outgoing
resources
Transfers
Carried
forward
£
£
£
£
£
76,930
122,090
120,690
-
78,329
20,000
-
-
-
20,000
96,930
122,090
120,690
-
98,329
Brought
forward
Incoming
resources
Outgoing
resources
Transfers
Carried
forward
£
£
£
£
£
40,982
113,812
107,051
47,744

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.

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DocuSign Envelope ID: 7B096785-1403-4C49-967F-AF56201ACD82

Registered number: 04358845 Charity number: 1094101

Phoenix Enterprises (Swindon) Ltd

INCOMING RESOURCES for the year ended 31 March 2024

Incoming resources from generated funds
Income from charitable activities
94,685
Income from fundraising activities
12,718
Investment income
1,224
Income from grants
113,812
Income from donations
13,463
Income from Kickstart grants (paid out as salaries)
-		 2024
£
85,020
12,779
211
109,950
16,728
16,948
235,902		 2023
£
241,636

EXPENSES

for the year ended 31 March 2024

Expenses
Costs of charitable activities
Accountancy fees
Bad debts
Charitable donations
Depreciation of equipment
Equipment rental
Fundraising costs
Heat, lights, water and waste
Insurance
Professional fees
Rent
Repairs and renewals
Salaries
Kickstart salaries
NIC
Pension contributions
Postage
Service User welfare
Staff welfare, training and reward
Stationery & office supplies
Sundry expenses
Telephone		 2024
£
763
3,531
-
1,117
3,783
4,474
5,340
3,218
-
22,000
1,933
153,820
-
8,161
3,340
5,628
4,560
1,049
775
3,821
427
227,741		 2023
£
1,013
4,031
-
751
2,363
-
9,386
2,456
500
24,748
5,555
137,412
16,948
7,760
2,422
4,027
1,462
532
510
4,089
307
226,272

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