2023-03-31-accounts

PHOENIX HOMES COLCHESTER (A Company Limited by Guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR TO 31 MARCH 2023

Company No: 06205036 Registered Charity No: 1119817

PHOENIX HOMES COLCHESTER

CONTENTS

	Pages
Reference and administrative information	1-2
Directors' report	3-6
Independent examiner's report	7
Statement of financial activities	8
Balance sheet	9-10
Cashflow statement	11
Notes to the financial statements	12-20

PHOENIX HOMES COLCHESTER

1

REFERENCE AND ADMINISTRATIVE INFORMATION AS AT 31 MARCH 2023

Founder: The late Dr Richard Fox MB. MRCP. DPM President: No appointment Chair: Ms Lesley Frearson Registered Office: 147 Straight Road Colchester Essex CO3 9DE Company No: 06205036 Registered Charity No: 1119817 Independent Examiner: Tim O'Connor ACA FCCA DChA SB Audit LLP 820 The Crescent Colchester Business Park Colchester Essex CO4 9YQ Bankers: Barclays Bank plc 9 High Street Colchester Essex CO1 1DD Solicitors: Birkett Long LLP 1 Amphora Place Sheepen Road Colchester Essex CO3 3WG

2

PHOENIX HOMES COLCHESTER

REFERENCE AND ADMINISTRATIVE INFORMATION - continued AS AT 31 MARCH 2023

Directors: Mr C Biggins Mr P Cheng MBE Mrs J Mallett Mr R Matthews Mrs S Dowse Ms C Wilkinson Ms L Frearson

Company Secretary:

Ms Lesley Frearson FCCA

3

PHOENIX HOMES COLCHESTER

DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Directors present their annual report for the year ended 31 March 2023. The organisation is a charitable company limited by guarantee, incorporated on 5 April 2007 and registered with the Charity Commission on 25 June 2007. Phoenix Homes Colchester has been formed to continue the charitable activities of Phoenix Group Homes established in 1965. The Company was established under a Memorandum of Association which specifies the objects and powers of the charitable company and is governed under its Articles of Association.

This report also represents the Trustees' Report which is required to be prepared by the Charities Act 2011. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 on Pages 12 to 13 and comply with the Memorandum and Articles of Association of Phoenix Homes Colchester, applicable law and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102).

Structure Governance and Management

• 1.1 Our fifteenth Annual General Meeting was held on 20 October 2022. In accordance with our governing document one third of our Directors are required to retire at the AGM, but are eligible for re-election. Mr Peter Cheng and Ms Carol Wilkinson retired at the meeting and were re-elected. Mr Peter Evens retired and did not stand for re-election. No election of President took place Ms Lesley Frearson was re- elected for a second term as Chair.

• 1.2 Directors are chosen for their skills and experience relevant to any aspect of the Company's work. Nomination of new Directors would be based on the established knowledge of the candidate. Apart from induction, no formal training is given, the Company is happy to sponsor Directors to attend a Trustee training programme.

• 1.3 At 31 March 2023 there were seven Directors.

• 1.4 In accordance with the governing document Directors are elected to serve for a period of three years, after which they may be re-elected at the next AGM.

• 1.5 The Directors adopt annual budgets and receive regular financial monitoring reports from the Company Secretary. They also receive reports from the housing coordinator on housing and resident issues.

• 1.6 All policies are reviewed regularly by a designated person. These are adapted as necessary and any changes reported regularly to the Board for information and approval where needed.

• 1.7 The Chairman provides support and supervision to the Housing Co-ordinator and other staff when required. All staff have been subject to checks and approval by the Disclosure and Barring Service (DBS).

• 1.8 We have been reviewing our governance as part of our strategic review and are considering what changes are required.

Objectives and Activities

• 2.1 Our mission is the relief of hardship and the protection of persons with mental health issues or mild learning disabilities, through the provision of supported housing accommodation.

We provide residents with an innovative and comprehensive service in a respectful environment. We aim to encourage and empower them and support their journey towards living an independent and fulfilled life.

PHOENIX HOMES COLCHESTER

4

DIRECTORS' REPORT - continued FOR THE YEAR ENDED 31 MARCH 2023

Objectives and Activities (continued)

• 2.2 The Company is an established part of the current local network of community care. Our aims towards our service users are:

• The promotion of independence

• A commitment towards empowerment

• To counteract isolation with group support

• The availability of staff support when needed.

• 2.3 The unstaffed housing project, for residents who are receiving, or who have received treatment for mental health problems, or who have learning disabilities, provides a home for those who can manage in the community with suitable floating support.

Public Benefit - How our activities deliver public benefit in North East Essex

• 3.1 The focus of our work with residents in our group homes, bedsits and flats is to support them, so that, as far as possible their environment is one which promotes mental well being and prevents relapse into serious illness, and where appropriate they are encouraged to seek early professional help. Our office base is in Colchester and our group homes, bedsits and flats are in Colchester.

• 3.2 There is no doubt that this ~~p~~ roject meets the new requirements of public benefit in charitable work and the directors confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the company's objectives and activities. We are working with and supporting other statutory service providers to provide additional services to the community.

Achievements and Performance

• 4.1 During the past 12 months we have:

• continued to provide a high quality service within our social housing, despite a continuing challenging environment

• Worked in partnership to find residents for our new property and to adapt the property for these new residents

• 4.2 During the year to 31 March 2023 our supported housing provision consisting of ten properties (four owned freehold, two owned leasehold and four rented from Colchester Borough Council) was used as follows:-

• Nine places in properties designated as group homes, (2022: 9), five individual bedsits (2022: 5), six self-contained units (2022: 6).

• 4.3 Throughout the year vacancies levels have been kept under review to ensure they remain at a manageable level. With the lifting of COVID-19 restrictions, we have seen a return to more normal levels of support.

We have worked in partnership to secure residents for the property sourced in the previous year.

5

PHOENIX HOMES COLCHESTER DIRECTORS' REPORT - continued FOR THE YEAR ENDED 31 MARCH 2023

Financial Review

• 5.1 Pages 8 to 20 contain the financial statements which reflect the Company's activities for the year.

• 5.2 The Board of Directors has agreed a policy of setting aside in a designated fund 3 months unrestricted running costs as a reserve buffer. 3 months of running cost (excluding exceptional costs for 2022/23) equal £41,240 and the buffer has been increased in line with this.

• Following a return to a surplus in the previous year, 2022/23 again generated a good surplus of £30,457. This was mainly due to the work undertaken in previous years to review rent levels. This supports the sustainability of the organisation in future years.

• 5.3 The Board of Directors considers the present financial position to be satisfactory.

Plans for Future Periods

• 6.1 We will address the need for new Board Members with the skills, experience and commitment to our aims.

• 6.2 We have secured residents for our new property and continue to work in partnership to manage this.

• 6.3 We will explore options for future development of the organisation

• 6.4 We recognise the need to develop greater partnership links with other similar organisations

• 6.5 We will explore the options for upgrading our shared accommodation.

PHOENIX HOMES COLCHESTER

6

DIRECTORS' REPORT - continued FOR THE YEAR ENDED 31 MARCH 2023

Directors Responsibilities

• 7.1 The Company's Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable laws and regulations.

• Company law requires the directors to prepare financial statements for each financial year. Under that law the directors must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.

• 7.2 The Company's Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.

• They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

• 8 A resolution to re-appoint Tim O'Connor of SB Audit LLP as independent examiner of the Company will be submitted at the General Meeting on 11 December 2023.

In preparing this report the Directors have taken advantage of small companies exemption provided by section 415a of the Companies Act 2006.

Approved by the Directors on 11 December 2023

and signed on their behalf by

Ms Lesley Frearson Chairman

PHOENIX HOMES COLCHESTER

7

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF PHOENIX HOMES COLCHESTER FOR THE YEAR ENDED 31 MARCH 2023

I report to the Directors on my examination of the financial statements of Phoenix Homes Colchester (‘the charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes. This report is made solely to the charitable company's directors, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charitable company's directors those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and its directors as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the directors of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Ø accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

Ø the financial statements do not accord with those records; or

Ø the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or

Ø the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Tim O'Connor ACA FCCA DChA

SB Audit LLP

820 The Crescent Colchester Business Park Colchester CO4 9YQ

Date:

8

PHOENIX HOMES COLCHESTER

SUMMARY STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2023

general designated Notes £ £ Income and endowments from: Income from Charitable Activities Fees 197,722 - Investment income 174 - Other income 5,090 - Total income 202,986 - Expenditure Expenditure on Charitable activities: 3 164,959 - Total expenditure 5 164,959 - Net income/(expenditure) before transfers 38,027 - Transfer between funds (5,405) 5,405 Net movement in funds 32,622 5,405 Fund balances at 1 April 2022 825,130 69,992 Fund balances at 31 March 2023 £ 857,752 £ 75,397 £ (Note 12) Unrestricted	Restricted £ 9,031 - - 9,031 16,511 16,511 (7,480) - (7,480) 18,182 10,702 £ (Note 11)	Total 2023 £ 206,753 174 5,090 212,017 181,470 181,470 30,547 - 30,547 913,304 943,851 £	Total 2022 £ 193,570 48 1,328 194,946 171,149 171,149 23,797 - 23,797 889,507 913,304

The above results are derived from continuing activities. All gains and losses in the year are included above. The surplus for the year for Companies Act purposes was £30,457 (2022 £23,797).

9

PHOENIX HOMES COLCHESTER

BALANCE SHEET AS AT 31 MARCH 2023

BALANCE SHEET AS AT 31 MARCH 2023
			Unrestricted	Restricted	Total		Total
FIXED ASSETS		Notes	General Designated £ £	Funds £	2023 £		2022 £
Tangible assets:
Freehold property		7.1	692,440 -	-	692,440		692,440
Leasehold property		7.2	103,593 -	-	103,593		103,593
Furniture, equipment etc		8	- -	-	-		-
			796,033 -	-	796,033		796,033
			796,033 -	-	796,033		796,033
CURRENT ASSETS
Debtors			- -	735	735		735
Prepayments			17,007 -	-	17,007		17,552
Bank balances and cash in hand			59,351 75,397	9,967	144,715		117,299
			76,358 75,397	10,702	162,457		135,586
LIABILITIES:
amounts falling due within one year
Other creditors			13,389 -	-	13,389		10,325
Mortgage (secured)		9	1,250 -	-	1,250		5,982
			14,639 -	-	14,639		16,307
NET CURRENT ASSETS			61,719 75,397	10,702	147,818		119,279
TOTAL ASSETS LESS CURRENT LIABILITIES			857,752 75,397	10,702	943,851		915,312
LIABILITIES:
amounts falling due after	more than one year
Mortgage (secured)		9	- -	-	-		2,008
TOTAL NET ASSETS			£ 857,752 £ 75,397 £ 10,702 £ 943,851£				913,304
FUNDS
Unrestricted income funds:	General funds		857,752 -	-	857,752		825,130
	Designated funds	12	- 75,397	-	75,397		69,992
Restricted income funds:		11	- -	10,702	933,149 10,702		895,122 18,182
TOTAL FUNDS			£ 857,752 £ 75,397 £ 10,702 £ 943,851			£	913,304
			(Note 12)	(Note 11)

10

PHOENIX HOMES COLCHESTER

BALANCE SHEET AS AT 31 MARCH 2023

For the year ending 31 March 2023 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.

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

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

The financial statements were approved by the Board on 11 December 2023 and signed on its behalf by

Ms Lesley Frearson Company number 06205036

The notes on pages 12 to 20 form part of these financial statements

PHOENIX HOMES COLCHESTER

11

STATEMENT OF CASHFLOW AS AT 31 MARCH 2023

			2023			2022
		£		£	£		£
Net	cash flow from operating activities			33,982			25,843
Returns on investments & servicing		of finance
	Interest received	174			48
	Repayment of mortgage	(6,740)			(6,610)
Taxation				(6,566) -			(6,562) -
Capital expenditure & financial investment Acquisition of tangible fixed assets -					(319,400)
				-			(319,400)
Net	cash flow			27,416			(300,119)
Notes to the cashflow statement
1.	Reconciliation of net incoming resources to net cash flow from operating activities 2023 2022 £ £ Net incoming resources for the year 30,547 23,797 Interest received (174) (48) Decrease/(increase) in debtors 545 3,883 (Decrease)/increase in creditors 3,064 (1,789)
	Net cash flow from operating activities				33,982		25,843
2.	Analysis of changes in net debt Cash at bank and in hand			At 31 March 2022 £ 117,299	Cashflow £ 27,416	Other non- cash changes £ -	At 31 March 2023 £ 144,715
	Borrowings Debt due within one year Debt due after one year			117,299 (5,982) (2,008)	27,416 4,973 2,008	- (241) -	144,715 (1,250) -
				109,309	34,397	(241)	143,465

PHOENIX HOMES COLCHESTER

12

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES

The Principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

Basis of accounting

The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention.

The financial statements include all transactions, assets and liabilities for which the charity is responsible by law. The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are rounded to the nearest £1 and are prepared for in Sterling.

Based on the entity's forecasts and projections, the Charity have a reasonable expectation that the entity has adequate resources to continue in operational existence for the foreseeable future. The entity therefore continues to adopt the going concern basis in preparing for financial statements. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Fund accounting

Funds restricted by the donor are treated as restricted funds, as are monies collected from the residents of unstaffed group homes for the payment of their utilities expenses.

All other receipts are unrestricted funds; however, the charity has designated part of these funds for specific purposes. These designated funds are a reserve for property maintenance and an operating costs buffer.

Investments

Investments are term and higher rate deposits.

Incoming resources

All incoming resources, excluding grants, are accounted for on an accruals basis. Service provision grants are recognised on a matching period basis and other grants are recognised on a receipts basis.

Expenditure

Expenditure is recognised in the period in which it is incurred and includes attributable VAT which cannot be recovered. They are allocated to the particular activity where the cost relates directly to the activity.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the company; this includes the preparation and examination of this annual report and financial statements, and costs linked to the strategic management of the company.

Fixed assets

Fixed assets are stated at original cost to the company, plus subsequent significant improvements, again at cost. The cost of minor additions under £150 are not capitalised. Freehold and long leasehold property are held at cost less impairment. No depreciation is provided as the directors believe the properties are not decreasing in value and are being kept in good condition. Furniture, equipment, etc. is depreciated over 5 years on a straight line basis.

Gifts of assets

Donations in kind are included in the financial statements at their present value at the point of gift and are recognised when their receipt is certain.

PHOENIX HOMES COLCHESTER

13

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

Taxation

The Charity is a charity within the meaning of the Charities Act 2011 and as such is a charity within the meaning of Part 11, Corporation Tax Act 2010. Accordingly the Charity is potentially exempt from taxation in respect of income or gains received within categories covered by Part 11, Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extend that such income or gains are applied exclusively to its charitable purpose.

Pensions

The company participates in a defined benefit pension scheme operated by Essex County Council.

Contributions to the scheme are charged through the SoFA for the year in which they are payable to the scheme. The scheme is accounted for as a defined contribution scheme on the basis that it is not possible to separately identify Phoenix Homes Colchester's share of the underlying assets and liabilities of the sum totals. As a small admission body of the scheme, the disclosures included within these financial statements are deemed to be appropriate to the circumstances of Phoenix Homes Colchester.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets or financial liabilities.

• Short term debtors (financial assets) are measured at transaction price

• Short term creditors (financial liabilities) are measured at transaction price

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Legacies

Legacies are accounted for once the charity is entitled to the legacy. Entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

2 SIGNIFICANT JUDGEMENTS AND ESTIMATES

The more significant judgements and estimates involved in the preparation of the financial statements include assessing the depreciation rates applicable to tangible fixed assets and the way in which certain costs should be apportioned. Further details regarding these points are included within the accounting policies.

14

PHOENIX HOMES COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

3 SUPPORTED HOUSING PROJECT COSTS

Restricted general designated £ £ £ Housing costs 66,515 - 16,511 Staff costs 76,454 - - Other services 1,750 - - Administration 14,030 - - Direct project costs 158,749 - 16,511 Support costs (note 4) 6,210 - - Total project costs £ 164,959 £ - £ 16,511 £ For the year ended 31 March 2022 Housing costs 47,083 - 13,615 Staff costs 89,204 - - Other services 2,728 - - Administration 10,135 - - Direct project costs 149,150 - 13,615 Support costs 8,384 - - Total project costs £ 157,534 £ - £ 13,615 £ 4 SUPPORT COSTS These comprise: Restricted general designated £ £ £ Office and administration 2,091 - - Consultancy costs - - - 432 - - Insurance 721 - - Independent examiner's fee 2,966 - - £ 6,210 £ - £ - £ and are all allocated to the Supported Housing project as office and other costs For the year ended 31 March 2022 These comprise: Restricted general designated £ £ £ Office and administration 2,268 - - 2,475 - - 319 - - Insurance 660 - - Independent examiner's fee 2,662 - - £ 8,384 £ - £ - £ Unrestricted Unrestricted Consultancy costs Annual accounts, AGM and Trustee expenses Unrestricted Annual accounts, AGM and Trustee expenses

Total 2023 £ 83,026 76,454 1,750 14,030 175,260 6,210 181,470 60,698 89,204 2,728 10,135 162,765 8,384 171,149 Total 2023 £ 2,091 - 432 721 2,966 6,210 Total 2022 £ 2,268 2,475 319 660 2,662 8,384

and are all allocated to the Supported Housing project as office and other costs.

15

PHOENIX HOMES COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

5 TOTAL EXPENDITURE

Summarised by function across the main cost headings:-

Direct Project Costs £ Housing costs 83,026 Staff costs 76,454 Other services 1,750 Administration 14,030 Trustee liability insurance - - - - £ 175,260 £ Analysis by fund Unrestricted Restricted For the year ended 31 March 2022 Direct Project Costs £ Housing costs 60,698 Staff costs 89,204 Other services 2,728 Administration 10,135 Trustee liability insurance - - - - 162,765 Analysis by fund Unrestricted Restricted 6 STAFF COSTS Staff remuneration costs comprise: Wages and salaries Social security costs Other pension costs The average weekly number of employees during the year was made up as follows:- Staff No employee earns in excess of £60,000 per year. Annual accounts, AGM & Trustee exp Independent examiner's fee Consultancy costs Independent examiner's fee Annual accounts, AGM & Trustee exp Consultancy costs	Support Costs £ - - - 2,091 721 432 - 2,966 6,210 £ £ Support Costs £ - - - 2,268 660 319 2,475 2,662 8,384 £	Total 2023 £ 83,026 76,454 1,750 16,121 721 432 - 2,966 181,470 164,959 16,511 181,470 Total 2022 £ 60,698 89,204 2,728 12,403 660 319 2,475 2,662 171,149 157,534 13,615 171,149 2023 £ 67,023 2,494 6,937 76,454 £ 3	2022 £ 66,558 2,092 20,554 89,204 3

No emoluments are payable to any directors, in their capacity as a director, and only directly incurred charitable expenses are reimbursed. No emoluments have been paid to key management personnel.

16

PHOENIX HOMES COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

7 RESIDENTIAL PROPERTY

7.1 Freehold property

Freehold residential property at original cost to the company, plus improvements:

Errington Road Straight Road (including office) Oaklands Shrub End Road	Transfer from Phoenix Purchased Group Homes 2023 £ £ £ 0 16,304 16,304 0 138,416 138,416 319,400 0 319,400 0 218,320 218,320 319,400 373,040 £ 692,440 £	2022 £ 16,304 138,416 319,400 218,320 692,440

7.2 Leasehold property

Leasehold residential property at original cost to the company, plus improvements:

sehold property sehold residential property at original cost to the company, plus improvements:	sehold property sehold residential property at original cost to the company, plus improvements:
Transfer from Phoenix
Charles Court	Group Homes 2023 £ £ 46,460 46,460		2022 £ 46,460	(i)
Christine Chase	57,133 57,133		57,133	(ii)
£	103,593 £ 103,593	£	103,593
acquired in May 2001 when an unexpired period of 87 years remained on the lease.
acquired in March 2002 when an unexpired period of 121	years remained on the lease.
esidential property assets are used for direct charitable purposes.
NITURE, EQUIPMENT ETC
Cost			Total £
As at 1 April 2022			57,184
As at 31 March 2023			57,184
Depreciation
As at 1 April 2022			57,184
As at 31 March 2023			57,184
Net book values
As at 31 March 2023		£	0
As at 31 March 2022		£	0

(i) acquired in May 2001 when an unexpired period of 87 years remained on the lease. (ii) acquired in March 2002 when an unexpired period of 121 years remained on the lease.

7.3 All residential property assets are used for direct charitable purposes.

8 FURNITURE, EQUIPMENT ETC

All assets of significant value are used for direct charitable purposes.

17

PHOENIX HOMES COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

9 MORTGAGES

The mortgage bears interest at 3.04% over base rate and is repayable by instalments over a period of 12 years with effect from July 2011. The mortgage is secured over the freehold property.

At the balance sheet date the amount outstanding on the mortgage was repayable as follows:

		2023		2022
		£		£
Repayable within one year		1,250		5,982
Repayable within two to five years			0	2,008
	£	1,250 £		7,990

10 PENSIONS

The Company participates in the Essex Pension Fund which is a defined benefit scheme administered by Essex County Council.

The pension contributions payable by Phoenix Group Homes are a combination of paying for the cost of new benefits and paying towards any shortfall in respect of previous service. The amounts are set every three years by the Fund Actuary.

The amounts paid in 2020/21, 2021/22 and 2022/23 are set out below.

Employer's contributions	2020/21	2021/22	2022/23
Towards the cost of new benefits	£7,895.57	£8,005.85	£5,411.84
			30.2% of
	30.2% of	30.2% of	salaries to Nov
	salaries	salaries	2022, then 0%
Towards the shortfall	£12,000	11,788	0
Total	£19,896	£19,794	£5,412

Any payments to meet unfunded benefits which are recharged to the Company are in addition to those above and the certified amounts for 2022/23 don’t include an allowance for any financial strain payments for members taking early retirement.

18

PHOENIX HOMES COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

11 RESTRICTED FUNDS

As at 1 April 2022 Residents money (a) 15,436 Nursery (b) 931 Travel (c) 417 Learning Zone (d) 148 Service User fund (e) 1,250 18,182 For the year ended 31 March 2022 As at 1 April 2021 Residents money (a) 25,894 Nursery (b) 931 Travel (c) 417 Learning Zone (d) 148 Service User fund (e) 1,250 28,640	Income received 9,031 - - - - 9,031 Income received 3,157 - - - - 3,157	Expended 16,511 - - - - 16,511 Expended 13,615 - - - - 13,615	Depn of As at 31 assets March 2023 - 7,956 - 931 - 417 - 148 - 1,250 - 10,702 Depn of As at 31 assets March 2022 - 15,436 - 931 - 417 - 148 - 1,250 - 18,182

• (a) The Company collects money from the residents of the group homes and co-ordinates the payment of their utilities and other expenses in these houses and flats.

• (b) A grant was provided by Essex County Council to assist payment of nursery fees where this provision of childcare would enable a service user to access the services of the alcohol project.

• (c) The grants received are to assist access to the alcohol day care programme. A further grant of £1,000 was awarded during the year to 31 March 2012 to provide access to clients from the mid essex area.

• (d) Anglian Community Enterprise (ACE) provided a grant to fund the Learning Zone.

• (e) Anglian Community Enterprise (ACE) provided a grant to support the activities of the Service User group.

PHOENIX HOMES COLCHESTER

19

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

12 DESIGNATED FUNDS

SIGNATED FUNDS
	Supported							Legacies		Total
		Housing				Property		and		2023
		PMR		Buffer		Fund	Donations
		£		£		£		£		£
As at 1 April 2022		14,585		39,835		-		15,572		69,992
Received in the year		-		-		-		-		-
Bank deposit interest		-		-		-		-		-
Transferred in year		4,000		1,405		-		-		5,405
Expended in period		18,585 -		41,240 -		- -		15,572 -		75,397 -
Balance 31 March 2023	£	18,585		41,240		-		15,572		75,397
As at 1 April 2021		(a) Supported Housing PMR £ 10,585		(b) Buffers £ 36,000		(c) Property Fund £ 320,000		(d) Legacies and Donations £ 15,572		Total 2022 £ 382,157
Received in the year		-		-		-		-		-
Transferred in the year		4,000		3,835		600 -		-		7,235
Expended in period		14,585 -		39,835 -		319,400 319,400 -		15,572 -		389,392 319,400 -
Balance 31 March 2022	£	14,585	£	39,835	£	-	£	15,572	£	69,992
		(a)		(b)		(c)		(d)

• (a) The General Fund has operated a Property Maintenance Reserve designated fund for many years. Each year a transfer is budgeted to this reserve to ensure adequate funds are in place for any major maintenance on any of the properties.

• (b) The General Fund designated fund was set up in 2004 as a first step towards establishing a 6 months operating costs buffer to provide an orderly winding up in the unforeseen circumstances work ceasing. Trustees reviewed this policy during 2015/16 and decided to reduce the buffer to a 3 month provision.

• (c) During the year to 31 March 2019, one property was sold - 40 Harsnett road. The gain on this property was set aside for the future development of the housing project. Following a strategic review, the board agreed to purchase a further property and a fund was set aside for this. During 2021/22 a new purchase was acquired at a cost of £319,400.

• (d) During the year ended 31 March 2020, a legacy was received from the estate of a former resident. This legacy will be held for future expenditure as identified by trustees.

13 RELATED PARTIES

The company is controlled by its members who operate through an appointed Board of Directors. No member of the Board of Directors received remuneration during the current or prior year in their capacity as Director. Ms Lesley Frearson was appointed a Director and Chair during the year and continued to be paid for her role as accountant and Company Secretary to the organisation. She was paid £5,760 during the year, of which £417 was in creditors (2022: £5,760 of which £417 was in creditors) Expenses of £nil (2022 £nil) were reimbursed to members of the Board.

20

PHOENIX HOMES COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2023

14 STATEMENT OF FINANCIAL ACTIVITIES 2022 Unrestricted general £ Income and endowments from: Income from Charitable Activities Fees 190,413 Investment income 48 Other income 1,328 Total income 191,789 Expenditure Expenditure on Charitable activities: Unstaffed group homes 157,534 Total expenditure 157,534 Net income/(expenditure) before transf 34,255 Transfer between funds 312,165 Net movement in funds 346,420 Fund balances at 1 April 2021 478,710 Fund balances at 31 March 2022 £ 825,130	designated £ - - - - - - - (312,165) (312,165) 382,157 69,992	Restricted £ 3,157 - - 3,157 13,615 13,615 (10,458) - (10,458) 28,640 18,182	Total 2022 £ 193,570 48 1,328 194,946 171,149 171,149 23,797 - 23,797 889,507 913,304

15 COMPANY INFORMATION

Phoenix Homes Colchester is a charitable company limited by guarantee incorporated in England and Wales. The registered office is 147 Straight Road, Colchester, Essex CO3 9DE. The maximum liability of each member in the event of the company being dissolved is £10.