COMPANY REGISTRATION NUMBER: 07029472 CHARITY REGISTRATION NUMBER: 1133503
The Phoenix Resource Centre (Northampton) Limited COMPANY LIMITED BY GUARANTEE Unaudited Financial Statements 28 February 2023
MEADOWS & CO LIMITED
Chartered Accountants Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Financial Statements
Year ended 28 February 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
Page 1
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 28 February 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 28 February 2023.
Reference and administrative details
The Phoenix Resource Centre (Northampton) Limited
Registered charity name Charity registration number 1133503 Company registration number 07029472 Principal office and registered Unit 10-11 office Bevan Close Finedon Road Industrial Estate Wellingborough Northamptonshire NN8 4BL
The trustees
Mr A J Richardson Mr J W Richardson Mrs M Richardson Mr B Alaba Mr B Alaba Independent examiner Mr D Kelland FCA Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ
Structure, governance and management
The charity is constituted as a company limited by guarantee and licenced by the Environment Agency.
Page 2
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 28 February 2023
Objectives and activities
The Phoenix Resource Centre is a registered charity whose main objectives are the protection and preservation of the environment for the public benefit by the promotion of waste reduction, re-use reclamation, recycling, the use of recycled products and the use of surplus. Our secondary objectives are the provision of resources for the use in creative play, the arts, rehabilitation and education, sensory work, fundraising and for disadvantaged groups and individuals. The areas of society that we primarily focus on are children, youth, the elderly, disabled, disadvantaged, charities, not-for profit, voluntary groups and those involved with the arts. We are a company limited by guarantee and licenced by the Environment Agency.
The Phoenix Resource Centre is a unique, ground breaking concept. Taking new resources from industry in bulk and redistributing them to other charities, schools, youth groups, hospitals, art groups, organisations working with the elderly, children, youth, disabled, disadvantaged sectors all via a membership basis. The resources are then used by the groups in art and craft activities, education, design and development, fundraising etc.
We will not undertake any campaigning of a political nature, we are only looking to educate in relation to the environment, recycling and re-use.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Page 3
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 28 February 2023
Achievements and performance
During our financial year 2022 - 2023 we still continued to feel the effects of the unpaid debts, along with the continued effects of the Covid-19 pandemic, especially with our live lounge and other projects. This has only been helped by the continuing understanding of our suppliers and landlords for which we will always be indebted. Although at the end of the last financial period we were facing a very trying time due to unforeseen and unexpected rates bills from Harlow Council, after a lot of hard petitioning and support from councillors, residents and council officers, this was finally sorted at the end of this period, although not entirely without cost to the charity. Funding reductions in the third sector continued to affect both us and our members and partners as well as delays and U-turns in funding decisions.
It is unfortunate that a lot of our pre Covid projects that had to temporarily close have now permanently closed, although the Town Centre awards, craft projects and workshops, our Harlow Resource centre and our partner project with Harlow college - In The Making - have all started up again, although at a slower pace.
We continued to grow from our Wellingborough warehouse, especially growing our Foreign aid programmes, and with the start of some major projects in Somaliland where we have developed very close relationships with several of the government ministers and the President and First Lady, there are some very exciting times ahead for Phoenix in this country. This is in addition to our continued work in neighbouring Djibouti.
We have experienced an ever increasing demand for our Harlow community kitchen and food based programmes, having provided over 35,000 free breakfasts to date, along with 1000's of lunchtime meals.
Financial review
The loss for the year was £3,228 (profit 2022: £9,643), leaving total funds to be carried forward of £41,792 (2022: £45,020).
The Council of Management does not consider that there have been any important events affecting the Society between the date of the balance sheet and the date that this report was signed.
Page 4
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 28 February 2023
Plans for future periods
Whilst some of our projects have restarted and we are looking forward to growing these, we are committed to our newly starting Harlow youth hub, Love Harlow community radio station and some very exciting projects in Somaliland.
We would like to acknowledge and thank our many suppliers who continue to work and build with us, mainly in the redirection of surplus from landfill. Our suppliers continue to donate millions of pounds of valuable resources for us to use in our projects and redistribute to others in the UK and around the world. Through their generosity and support, not only are we able to significantly reduce the amount going into UK landfills, save them tens of thousands of pounds in disposal costs, but we are able to help over a million people a year in the UK alone.
Special thanks and mention must go again to Booker group who along with other existing and new suppliers continue to donate millions of pounds worth of resources.
Our success and rapid expansion with continued need to expand has been due to many factors. These include our outlook and unique approach, a dedicated team, our ability to change in line with the demands from new and existing suppliers whilst meeting our member's needs, our ground-breaking processes with an in-exhaustive ability to think outside the box, generous amounts of help and support along the way from suppliers, landlords, councils, MP's and others who have been impressed by the Phoenix approach. We are heavily committed to our partners, especially Feed the Hungry, Harlow College, Harlow Council and all of our projects, whilst still remaining focussed on the centres and our core activity.
The trustees wish to express their sincere thanks to our small band of volunteers, past and present, for all their help and to our members and suppliers for their support over the last 10 years.
The trustees' annual report and the strategic report were approved on 24 November 2023 and signed on behalf of the board of trustees by:
Mr A J Richardson Trustee
Page 5
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Independent Examiner's Report to the Trustees of The Phoenix Resource Centre
(Northampton) Limited
Year ended 28 February 2023
I report to the trustees on my examination of the financial statements of The Phoenix Resource Centre (Northampton) Limited ('the charity') for the year ended 28 February 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) 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 accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the 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 accounts to be reached.
Mr D Kelland FCA Independent Examiner
Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ
24 November 2023
Page 6
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Statement of Financial Activities (including income and expenditure account)
Year ended 28 February 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 54,775 | 54,775 | 118,672 |
| Charitable activities | 6 | 47,475 | 47,475 | 14,631 |
| Other trading activities | 7 | 94,360 | 94,360 | 81,260 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 196,610 | 196,610 | 214,563 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of other trading activities | 8 | 196,165 | 196,165 | 196,661 |
| Expenditure on charitable activities | 9,10 | 3,673 | 3,673 | 5,439 |
| Other expenditure | 11 | – | – | 2,820 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 199,838 | 199,838 | 204,920 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net (expenditure)/income and net movement in funds | (3,228) | (3,228) | 9,643 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 45,020 | 45,020 | 35,377 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 41,792 | 41,792 | 45,020 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
Page 7
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Statement of Financial Position
28 February 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 16 | 12,809 | 16,263 |
| Current assets | |||
| Stocks | 17 | 30,143 | 22,574 |
| Debtors | 18 | 76,740 | 59,111 |
| Cash at bank and in hand | 2,099 | 3,820 | |
| -------------------------------- | ---------------------------- | ||
| 108,982 | 85,505 | ||
| Creditors: amounts falling due within one year | 19 | 43,696 | 20,445 |
| -------------------------------- | ---------------------------- | ||
| Net current assets | 65,286 | 65,060 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 78,095 | 81,323 | |
| Creditors: amounts falling due after more than one year | 20 | 36,303 | 36,303 |
| ---------------------------- | ---------------------------- | ||
| Net assets | 41,792 | 45,020 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 41,792 | 45,020 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 22 | 41,792 | 45,020 |
| ============================ | ============================ |
For the year ending 28 February 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 24 November 2023, and are signed on behalf of the board by:
Mr A J Richardson Trustee
The notes on pages 8 to 15 form part of these financial statements.
Page 8
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 10-11, Bevan Close, Finedon Road Industrial Estate, Wellingborough, Northamptonshire, NN8 4BL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Public benefit
The Trustees of The Phoenix Resource Centre (Northampton) Limited understand the need to have regard to the Charity Commission's guidance on public benefit.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues and financial support from funders.
On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Page 9
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Page 10
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 20% reducing balance Motor vehicles - 33% straight line Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Page 11
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
3. Accounting policies (continued)
Government grants
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
4. Limited by guarantee
The company is limited by guarantee. Each of the members has agreed to contribute to the assets in the event of a deficiency on winding up of an amount not exceeding £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 37,420 | 37,420 | 50,354 | 50,354 |
| Grants | ||||
| Grants receivable | 11,755 | 11,755 | – | – |
| Government grant income | 5,600 | 5,600 | 68,318 | 68,318 |
| ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 54,775 | 54,775 | 118,672 | 118,672 | |
| ============================ | ============================ | ================================ | ================================ |
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Contract work and workshops | 7,475 | 7,475 | – | – |
| Container income | 40,000 | 40,000 | 14,631 | 14,631 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 47,475 | 47,475 | 14,631 | 14,631 | |
| ============================ | ============================ | ============================ | ============================ |
Page 12
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
7. Other trading activities
| Unrestricted | Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |||
| £ | £ | £ | £ | |||
| Community Shop and Live Lounge | 94,360 | 94,360 | 81,260 | 81,260 | ||
| ============================ | ============================ | ============================ | ============================ | |||
| 8. | Costs of other trading activities | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2023 | Funds | 2022 | |||
| £ | £ | £ | £ | |||
| Costs of trading activities | 196,165 | 196,165 | 196,661 | 196,661 | ||
| ================================ | ================================ | ================================ | ================================ | |||
| 9. | Expenditure on charitable activities by fund | type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2023 | Funds | 2022 | |||
| £ | £ | £ | £ | |||
| Support costs | 3,673 | 3,673 | 5,439 | 5,439 | ||
| ======================= | ======================= | ======================= | ======================= | |||
| 10. | Expenditure on charitable activities by activity type | |||||
| Support | Total funds | Total fund | ||||
| costs | 2023 | 2022 | ||||
| £ | £ | £ | ||||
| Governance costs | 3,673 | 3,673 | 5,439 | |||
| ======================= | ======================= | ======================= | ||||
| 11. | Other expenditure | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2023 | Funds | 2022 | |||
| £ | £ | £ | £ | |||
| Loss on disposal of intangible assets | ||||||
| for charity's own use | – | – | 2,820 | 2,820 | ||
| ============== | ============== | ======================= | ======================= | |||
| 12. | Net (expenditure)/income | |||||
| Net (expenditure)/income is stated after charging/(crediting): | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Depreciation of tangible fixed assets | 5,650 | 905 | ||||
| Loss on disposal of intangible assets | – | 2,820 | ||||
| ======================= | ======================= | |||||
| 13. | Independent examination fees | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Fees payable to the independent examiner for: | ||||||
| Independent examination of the financial statements | 1,200 | 1,200 | ||||
| ======================= | ======================= |
Page 13
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
14. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 58,850 | 54,969 |
| ============================ | ============================ | |
| The average head count of employees during the year was 1 (2022: 1). The average number of | ||
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Warehouse | 1 | 1 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
15. Trustee remuneration and expenses
The property at 10 Park Road, Raunds is owned by Mr & Mrs A J Richardson who charge the company a commercial rent of £Nil per annum. (2022 - £24,000).
During the year the charity paid RESAS Limited, of which Mr A J Richardson and Mr J W Richardson are directors, £Nil (2022 - £Nil).
During the year Mr A Richardson was reimbursed £21,436 in relation to expenses. At the year end the balance owing was £22,262 (2022 - £15,570).
During the year Mr J Richardson was reimbursed £Nil in relation to expenses. At the year end the balance owing was £90 (2022 - £90).
16. Tangible fixed assets
| Fixtures and | Motor | ||
|---|---|---|---|
| fittings | vehicles | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 March 2022 | 17,032 | 14,637 | 31,669 |
| Additions | 2,196 | – | 2,196 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| At 28 February 2023 | 19,228 | 14,637 | 33,865 |
| ============================ | ============================ | ============================ | |
| Depreciation | |||
| At 1 March 2022 | 5,312 | 10,094 | 15,406 |
| Charge for the year | 2,784 | 2,866 | 5,650 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| At 28 February 2023 | 8,096 | 12,960 | 21,056 |
| ============================ | ============================ | ============================ | |
| Carrying amount | |||
| At 28 February 2023 | 11,132 | 1,677 | 12,809 |
| ============================ | ============================ | ============================ | |
| At 28 February 2022 | 11,720 | 4,543 | 16,263 |
| ============================ | ============================ | ============================ |
Page 14
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
| 17. | Stocks | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Raw materials and consumables | 30,143 | 22,574 | |
| ============================ | ============================ | ||
| 18. | Debtors | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other debtors | 76,740 | 59,111 | |
| ============================ | ============================ | ||
| 19. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans and overdrafts | – | 2 | |
| Trade creditors | 20,144 | 3,583 | |
| Accruals and deferred income | 1,200 | 1,200 | |
| Director loan accounts | 22,262 | 15,570 | |
| Other creditors | 90 | 90 | |
| ---------------------------- | ---------------------------- | ||
| 43,696 | 20,445 | ||
| ============================ | ============================ | ||
| 20. | Creditors: amounts falling due after more than one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other creditors - Loans | 36,303 | 36,303 | |
| ============================ | ============================ | ||
| Included within other creditors are £36,303 (2022 - £36,303) of interest free loans. | |||
| 21. | Government grants | ||
| The amounts recognised in the financial statements for government | grants are as follows: | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Recognised in income from donations and legacies: | |||
| Government grants income | 5,600 | 68,318 | |
| ======================= | ============================ |
Page 15
The Phoenix Resource Centre (Northampton) Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 28 February 2023
22. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 March 202 | 28 February | |||
| 2 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 45,020 | 196,610 | (199,838) | 41,792 |
| ============================ | ================================ | ================================ | ============================ | |
| At | At | |||
| 1 March 202 | 28 February | |||
| 1 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | 35,377 | 214,563 | (204,920) | 45,020 |
| ============================ | ================================ | ================================ | ============================ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Tangible fixed assets | 12,809 | 12,809 | ||
| Current assets | 108,982 | 108,982 | ||
| Creditors less than 1 year | (43,696) | (43,696) |
||
| Creditors greater than 1 year | (36,303) | (36,303) |
||
| -------------------------------- | -------------------------------- | |||
| Net assets | 41,792 | 41,792 | ||
| ================================ | ================================ | |||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Tangible fixed assets | 16,263 | 16,263 | ||
| Current assets | 85,505 | 85,505 | ||
| Creditors less than 1 year | (20,445) | (20,445) |
||
| Creditors greater than 1 year | (36,303) | (36,303) |
||
| ---------------------------- | ---------------------------- | |||
| Net assets | 45,020 | 45,020 | ||
| ============================ | ============================ |
23. Analysis of net assets between funds
24. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Not later than | 1 | year | 4,463 | 4,463 |
| ======================= | ======================= |
25. Going concern
The directors have considered the period to 30 November 2024 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy its liabilities as these become payable.