# **PHOENIX HOMES COLCHESTER (A Company Limited by Guarantee)** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR TO 31 MARCH 2024** **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| |Statement of cash flows|11| |Notes to the financial statements|12-20| **PHOENIX HOMES COLCHESTER** 1 ## **REFERENCE AND ADMINISTRATIVE INFORMATION AS AT 31 MARCH 2024** |**Founder:**|The late Dr Richard Fox MB. MRCP. DPM| |---|---| |**President:**|No appointment| |**Chair:**|Mrs Lesley Poole (previously Frearson)| |**Registered Office:**|147 Straight Road| ||Colchester| ||Essex CO3 9DE| |**Company No:**|06205036| |**Registered Charity No:** 1119817|| |**Independent Examiner:** Piers Harrison FCA|| ||Scrutton Bland Limited| ||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 2024** **Directors:** Mr C Biggins Mr P Cheng MBE Mrs J Mallett Mr R Matthews Mrs S Dowse Ms C Wilkinson Ms L Poole **Company Secretary:** Ms Lesley Poole FCCA 3 ## **PHOENIX HOMES COLCHESTER** ## **DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2024** The Directors present their annual report for the year ended 31 March 2024. 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 sixteenth Annual General Meeting was held on 11 December 2023. 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 Colin Biggins, Mr Robin Matthews and Mrs Jean Mallett retired at the meeting and were re-elected. No election of President took place Ms Lesley Poole ( 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 2024 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 2024** ## **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 - In our new property, worked in partnership to provide support to our young residents who had left their family homes for the first time. - 4.2 During the year to 31 March 2024 our supported housing provision consisting of ten properties (four owned freehold, two owned leasehold and three rented from Colchester Borough Council) was used as follows:- - Nine places in properties designated as group homes, (2023: 9), five individual bedsits (2023: 5), five self-contained units (2023: 6). - 4.3 Throughout the year vacancies levels have been kept under review to ensure they remain at a manageable level. 5 ## **PHOENIX HOMES COLCHESTER DIRECTORS' REPORT - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **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 equal £37,757 and the buffer has been decreased in line with this. - Following a return to a surplus over the past two years, 2023/24 again generated a good surplus of £51,145. 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 continue to explore solutions for Board succession planning - 6.2 We will continue to look at support solutions for our newest property. - 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 **PHOENIX HOMES COLCHESTER** 6 ## **DIRECTORS' REPORT - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **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 Piers Harrison of Scrutton Bland Limited as independent examiner of the Company will be submitted at the General Meeting on 4 December 2024. 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 4 December 2024 and signed on their behalf by > Mrs Lesley Poole **Chair** **PHOENIX HOMES COLCHESTER** 7 ## **INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF PHOENIX HOMES COLCHESTER FOR THE YEAR ENDED 31 MARCH 2024** 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 2024 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. ## Piers Harrison FCA Scrutton Bland Limited 820 The Crescent Colchester Business Park Colchester CO4 9YQ Date: 8 ## **PHOENIX HOMES COLCHESTER** ## **STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024** |**general**
**designated**
**Notes**
**£**
**£**
**Income and endowments from:**
Income from Charitable Activities
Fees
203,138
-
Investment income
840
-
Other income
127
-
**Total income**
204,105
-
**Expenditure**
Expenditure on Charitable activities:
3
151,026
-
**Total expenditure**
5
151,026
-
**Net income/(expenditure) before transfers**
53,079
-
**Transfer between funds**
(517)
517
**Net movement in funds**
52,562
517
**Fund balances at 1 April 2023**
857,752
75,397
**Fund balances at 31 March 2024**
£
910,314 £
75,914 £
(Note 12)
**Unrestricted**|**Restricted**
**£**
19,552
26
-
19,578
21,512
21,512
(1,934)
-
(1,934)
10,702
8,768 £
(Note 11)|**Total**
**2024**
**£**
222,690
866
127
223,683
172,538
172,538
51,145
-
51,145
943,851
994,996 £|**Total**
**2023**
**£**
206,753
174
5,090
212,017
181,470
181,470
30,547
-
30,547
913,304
943,851| |---|---|---|---| 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 £51,145 (2023 £30,547). 9 ## **PHOENIX HOMES COLCHESTER** ## **BALANCE SHEET AS AT 31 MARCH 2024** |**BALANCE SHEET**
**AS AT 31 MARCH 2024**|||||| |---|---|---|---|---|---| ||||**Unrestricted**|**Restricted**|**Total**
**Total**| |**FIXED ASSETS**||**Notes**|**General**
**Designated**
**£**
**£**|**Funds**
**£**|**2024**
**2023**
**£**
**£**| |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| |Prepayments|||5,325
-|-|5,325
17,007| |Bank balances and cash in hand|||131,725
75,914|8,768|216,407
144,715| ||||137,050
75,914|8,768|221,732
162,457| |**LIABILITIES:**|||||| |**amounts falling due within one year**|||||| |Other creditors|||22,769
-|-|22,769
13,389| |Mortgage (secured)||9|-
-|-|-
1,250| ||||22,769
-|-|22,769
14,639| |**NET CURRENT ASSETS**|||114,281
75,914|8,768|198,963
147,818| |**TOTAL ASSETS LESS CURRENT LIABILITIES**|||910,314
75,914|8,768|994,996
943,851| |**TOTAL NET ASSETS**|||£ 910,314 £
75,914 £|8,768 £|994,996£
943,851| |**FUNDS**|||||| |Unrestricted income funds:|General funds||910,314
-|-|910,314
857,752| ||Designated funds|12|-
75,914|-|75,914
75,397| |Restricted income funds:||11|-
-|8,768|986,228
933,149
8,768
10,702| |**TOTAL FUNDS**|||£ 910,314 £
75,914 £|8,768 £|994,996 £
943,851| ||||(Note 12)|(Note 11)|| 10 ## **PHOENIX HOMES COLCHESTER** ## **BALANCE SHEET AS AT 31 MARCH 2024** For the year ending 31 March 2024 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 4 December 2024 and signed on its behalf by Mrs Lesley Poole Company number 06205036 The notes on pages 12 to 20 form part of these financial statements **PHOENIX HOMES COLCHESTER** 11 ## **STATEMENT OF CASH FLOWS AS AT 31 MARCH 2024** ||||**2024**|||2023||| |---|---|---|---|---|---|---|---|---| |||£||£|£|||£| |**Net**|**cash flow from operating activities**|||72,076||||33,982| |**Returns on investments & servicing**||**of finance**||||||| ||Interest received|866|||174|||| ||Repayment of mortgage|(1,250)|||(6,740)|||| |||||(384)||||(6,566)| |**Net**|**cash flow**|||71,692||||27,416| |**Notes to the cashflow statement**||||||||| |**1.**|**Reconciliation of net incoming resources to net cash flow from operating activities**
**2024**
£
**Net incoming resources for the year**
51,145
Interest received
(866)
Decrease/(increase) in debtors
12,417
(Decrease)/increase in creditors
9,380|||||||2023
£
30,547
(174)
545
3,064| ||**Net cash flow from operating activities**||||72,076|||33,982| |**2.**|**Analysis of changes in net debt**
Cash at bank and in hand|||At 31
March
2023 Cashflow
£
£
144,715
71,692||Other non-
cash
changes
£
-||At 31
March
2024
£
216,407| ||**Borrowings**
Debt due within one year
Debt due after one year|||144,715
(1,250)
-|71,692
1,250
-||-
-
-|216,407
-
-| |||||143,465|72,942||-|216,407| **PHOENIX HOMES COLCHESTER** 12 ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **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. ## **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 2024** ## **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 2024** ## **3 SUPPORTED HOUSING PROJECT COSTS** |**general**
**designated**
**£**
**£**
Housing costs
60,973
-
Staff costs
73,143
-
Other services
1,639
-
Administration
10,129
-
Direct project costs
145,884
-
Support costs (note 4)
5,142
-
Total project costs
£
151,026
£
-
£
For the year ended 31 March 2023
Housing costs
66,515
-
Staff costs
76,454
-
Other services
1,750
-
Administration
14,030
-
Direct project costs
158,749
-
Support costs
6,210
-
Total project costs
£
164,959
£
-
£
**4**
**SUPPORT COSTS**
These comprise:
**general**
**designated**
**£**
**£**
Office and administration
1,157
-
220
-
Insurance
945
-
Independent examiner's fee
2,820
-
£
5,142
£
-
£
**Unrestricted**
**Unrestricted**
Annual accounts, AGM and Trustee
expenses|**Restricted**
**£**
21,512
-
-
-
21,512
-
21,512
£
16,511
-
-
-
16,511
-
16,511
£
**Restricted**
**£**
-
-
-
-
-
£|**Total**
**2024**
**£**
82,485
73,143
1,639
10,129
167,396
5,142
172,538
83,026
76,454
1,750
14,030
175,260
6,210
181,470
**Total**
**2024**
**£**
1,157
220
945
2,820
5,142| |---|---|---| and are all allocated to the Supported Housing project as office and other costs For the year ended 31 March 2023 |These comprise:
**general**
**designated**
**£**
**£**
Office and administration
2,091
-
432
-
Insurance
721
-
Independent examiner's fee
2,966
-
£
6,210
£
-
£
**Unrestricted**
Annual accounts, AGM and Trustee expenses|**Restricted**
**£**
-
-
-
-
-
£|**Total**
**2023**
**£**
2,091
432
721
2,966
6,210| |---|---|---| and are all allocated to the Supported Housing project as office and other costs. **PHOENIX HOMES COLCHESTER** 15 ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2024** ## **5 TOTAL EXPENDITURE** Summarised by function across the main cost headings:- |**Direct Project**
**Costs**
**£**
Housing costs
82,485
Staff costs
73,143
Other services
1,639
Administration
10,129
Trustee liability insurance
-
-
-
£
167,396
£
**Analysis by fund**
Unrestricted
Restricted
For the year ended 31 March 2023
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
**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.
Independent examiner's fee
Annual accounts, AGM & Trustee exp
Consultancy costs
Annual accounts, AGM & Trustee exp
Independent examiner's fee|**Support**
**Costs**
**£**
-
-
-
1,157
945
220
2,820
5,142
£
£
Support
Costs
£
-
-
-
2,091
721
432
-
2,966
6,210
£
£|**Total**
**2024**
**£**
82,485
73,143
1,639
11,286
945
220
2,820
172,538
151,026
21,512
172,538
Total
2023
£
83,026
76,454
1,750
16,121
721
432
-
2,966
181,470
164,959
16,511
181,470
**2024**
**£**
69,513
2,661
969
73,143 £
3|**2023**
**£**
67,023
2,494
6,937
76,454
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 2024** ## **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**
**2024**
**£**
**£**
**£**
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 £|**2023**
**£**
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**
**2024**
**£**
**£**
46,460
46,460||**2023**
£
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 2023|||57,184|| |Disposals|||-57,184|| |As at 31 March 2024|||0|| |**Depreciation**||||| |As at 1 April 2023|||57,184|| |Depreciation on disposal|||-57,184|| |As at 31 March 2024|||0|| |**Net book values**||||| |As at 31 March 2024||£|0|| |As at 31 March 2023||£|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** 17 ## **PHOENIX HOMES COLCHESTER** ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2024** ## **9 MORTGAGES** The mortgage was fully paid during the year. |**RTGAGES**
mortgage was fully paid during the year.||||| |---|---|---|---|---| |||**2024**||**2023**| |||**£**||**£**| |Repayable within one year|||0|1,250| |Repayable within two to five years|||0|0| ||£||0 £|1,250| |||||| ## **10 PENSIONS** The Company participates in the Essex Pension Fund which is a defined benefit scheme administered by Essex County Council. One employee was a member of this scheme during the year. 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. No employer contributions were due during 23/24 based on fund valuations. The amounts paid in 2021/22, 2022/23 and 2023/24 are set out below. |**Employer's contributions**|**2021/22**|**2022/23**|**2023/24**| |---|---|---|---| |Towards the cost of new benefits|£8,005.85|£5,411.84|£0.00| |||30.2% of|| ||30.2% of|salaries to Nov|| ||salaries|2022, then 0%|0% of salaries| |Towards the shortfall|11,788|0|0| |**Total**|**£19,794**|**£5,412**|**£0**| Any payments to meet unfunded benefits which are recharged to the Company are in addition to those above and the certified amounts for 2023/24 don’t include an allowance for any financial strain payments for members taking early retirement. Additionally the Company contributes to a workplace pension scheme with NOW Pension. Two employees were participating members of this scheme during the year. 18 ## **PHOENIX HOMES COLCHESTER** ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2024** ## **11 RESTRICTED FUNDS** |**As at**
**1 April 2023**
**Residents money**
(a)
7,956
**Nursery**
(b)
931
**Travel**
(c)
417
**Learning Zone**
(d)
148
**Service User fund**
(e)
1,250
10,702
For the year ended 31 March 2023
**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|**Income**
**received**
19,578
-
-
-
-
19,578
**Income**
**received**
9,031
-
-
-
-
9,031|**Expended**
**As at 31**
**March 2024**
21,512
6,022
-
931
-
417
-
148
-
1,250
21,512
8,768
**Expended**
**As at 31**
**March 2023**
16,511
7,956
-
931
-
417
-
148
-
1,250
16,511
10,702| |---|---|---| - (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 2024** ## **12 DESIGNATED FUNDS** |**SIGNATED FUNDS**|||||||||| |---|---|---|---|---|---|---|---|---|---| |||**Supported**|||||**Legacies**||**Total**| ||||**Housing**||||**and**||**2024**| ||||**PMR**||**Buffer**|**Donations**|||| ||||**£**||**£**||**£**||**£**| |As at 1 April 2023|||18,585||41,240||15,572||75,397| |Received in the year|||-||-||-||-| |Bank deposit interest|||-||-||-||-| |Transferred in year|||4,000||(3,483)||-||517| |Expended in period|||22,585
-||37,757
-||15,572
-||75,914
-| |Balance 31 March 2024|£||22,585||37,757||15,572||75,914| |As at 1 April 2022|||(a)
**Supported**
**Housing**
**PMR**
**£**
14,585||(b)
**Buffers**
**£**
39,835||(c)
**Legacies**
**and**
**Donations**
**£**
15,572||**Total**
**2023**
**£**
69,992| |Received in the year|||-||-||-||-| |Transferred in the 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| ||||(a)||(b)||(c)||| - (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 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. Mrs Lesley Poole 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 £834 was in creditors (2023: £5,760 of which £417 was in creditors) Expenses of £436 (2023 £nil) were reimbursed to members of the Board. 20 ## **PHOENIX HOMES COLCHESTER** ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 31 MARCH 2024** ## **14 STATEMENT OF FINANCIAL ACTIVITIES 2023** |**Unrestricted**
**general**
**designated**
**£**
**£**
**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:
Unstaffed group homes
164,959
-
**Total expenditure**
164,959
-
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 £
**Net income/(expenditure) before**
**transfers**|**Restricted**
**Total**
**2023**
**£**
**£**
9,031
206,753
-
174
-
5,090
9,031
212,017
16,511
181,470
16,511
181,470
(7,480)
30,547
-
-
(7,480)
30,547
18,182
913,304
10,702 £
943,851| |---|---| ## **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.