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2023-03-31-accounts

Pacaes
Charity
Information
Trustees'
Annual
Report		 2-6
Independent
Examiner's		 Report
Statement
of Financial		 Activities (incorporating
summary
income and expenditure		 account)
Balance Sheet
Statement ofCash Flows 10
Notes to the Accounts 11-20
Trustees Trustees David Ives
Gordon
Kendall
Janet Newton
Robert Ellis
Amanda
Sellers
Geoffrey Day
Vivienne
Hein (Appointed		 13 September 2022)
Chief Executive Officer Samantha
Whittingham
Registered Charity Number 1141567
Registered Company Number 07508521
Registered Office The Phoenix Centre
36Salters Road
Haylands
Ryde
Isle OfWight
PO33 3HU
Contact Details
Tel: 01983810172
Email: enquiries@phoenixprojectiow. org
Website: www. phoenixprojectiow. org
Bankers Barclays Bank Pic
Newport,
Isle ofWight
Accountants and Independent Examiners Moore (South) LLP
Newport,
Isle ofWight,		 PO30 1LH

FOR THE YEAR END ED 31 IIIIARCH 2 023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023
F		 2023
E		 2022f
Note
Income
Donations
&legacies		 3 3,757 1,000 4,757 10,189
Income from charitable activities 4 620,032 620,032 546,132
Income from other trading activities:
Fundraising
events		 3,184 3,184 2,097
Investment
income		 605 605 387
Other income 40665
Total income 627 578 1 000 628 578 599470
Expenditure
Costs of raising funds:
Fundraising
events		 60 60 24
Expenditure
on charitable		 activities:
Phoenix Project costs 602 371 602 371 578527
Total expenditure 6 602431 602431 578 551
Net income/(expenditure) for the year 25,147 1,000 26,147 20,919
Transfers between
funds		 2,483 (2,483)
Net movement
in funds		 for the year 27,630 (1,483) 26,147 20,919
Fund reconciliation
Total funds brought
forward		 312139 1 557 313.696 292 777
Total funds carried forward 339,769 74 339,843 313,696
THE PHOENIX PROJECT (IOW) THE PHOENIX PROJECT (IOW) Page 9
BALANCE SHEET
AS AT 31 MARCH 2023
Note 2023 2022
6 6
Fixed assets
Tangible assets		 10215 13357
Current assets
Debtors 10 44,260 54,749
Cash at bank and in hand 300629 263 063
344,889 317,812
Creditors: amounts due within one year 11 15261 17473
Net current assets 329,628 300,339
Total net assets 339,843 313,696
The funds ofthe charity:
Unrestricted
funds		 299,769 272,139
Designated
funds		 15 40000 40000
Total unrestricted funds 339,769 312,139
Restricted funds 74 1 557
339,843 313,696

2023
f		 2022
CASH FLOW FROM OPERATING ACTIVITIES (See below) 41 281 96 782
Cash flow from investing
activities
Interest received 605 387
Purchase oftangible
fixed assets
NET CASH FLOW FROM INVESTING ACTIVITIES (3,715) 387
Cash flow from financing
activities
Repayment
of borrowing		 ~50 000
NET CASH FLOW FROM FINANCING ACTIVITIES (50,000)
NET INCREASE IN CASH AND CASH EQUIVALUENTS 37,566 47,169
Cash equivalents
at 1 April 2022		 263 063 215894
CASH EQUIVALENTS AT 31 MARCH 2023 300,629 263,063
Cash and cash equivalents
consists		 of:
Cash at bank and
in hand		 300,629 263,063
Reconciliation ofnet income to net cash flow from operating activities
2023 2022
E
Surplus for the year 26,147 20,919
Depreciation 7,462 14,722
Investment
income		 (605) (387)
Movement
in creditors		 (2,212) (2,246)
Movement
in debtors		 10489 63744
Net cash flow from operating activities 41,281 96,782

Depreciation
is provided on all tangible fixed assets, at rates		 Depreciation
is provided on all tangible fixed assets, at rates		 calculated towrite offthe cost, less estimated calculated towrite offthe cost, less estimated
residual value, ofeach asset on a systematic
basis over its		 expected useful life as follows:
Equipment 20%on straight line
Computers 33%on straight line
Fixtures 15%on reducing balance
Motor vehicles 25%on straight line

Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
F 6 E
Note
Income
Donations 8legacies 3 4,883 5,306 10,189
Income from charitable activities 4 545,381 751 546,132
Income from other trading activities:
Fundraising
events		 2,097 2,097
Other income 40,665 40,665
Investment
income		 387 387
Total income 593413 6057 599470
Expenditure
Costs ofraising funds:
Fundraising
events		 24
Expenditure
on charitable		 activities:
Phoenix Project costs 574,027 4 500 587527
Total expenditure 574 051 4500 578 551
Net income/(expenditure) for the year 19,362 1,557 20,919
Fund reconciliation
Total funds brought
forward		 292 777 292 777
Total funds carried forward 312,139 1,557 313,696
Unrestricted Restricted Total Total
3 Grants and Donations Funds
F		 Funds
f		 2023
8		 2022
F
Individuals 1,759 1,759 3,083
Other charities 250 250 5,806
Corporations 1 748 1 000 2 748 1300
3,757 1,000 4,757 10,189

Unrestricted Unrestricted Restricted Restricted Restricted Total Total
Other income Funds Funds 2023 2022
E E E E
Government Grants
—Coronavirus Job Retention Scheme 25,665
—Local Authority 15000
40,665
All ofthe comparative total was in respect of unrestricted funds.
Analysis of Expenditure
The Trust incurs expenditure in running
the Phoenix Project (IOW).		 Support costs are allocated on a basi
consistent
with
the		 use of resources.
Governance		 is as listed below, but is included
in		 Charitable
Expenditure.
Charitable Support Fundraising Total Total
Costs Costs Governance Costs 2023 2022
Expenditure E E E E
Project costs 23,409 23,409 17,182
Wages and pension costs 391,900 51,887 4,320 448,108 418,670
Training
and		 staff checks 3,142 3,142 4,649
Insurance 5,547 5,547 4,540
Rent and rates 38,377 38,377 26,713
Utilities costs 9,384 9,384 8,402
Repairs, household and
cleaning
Wood 'n' things
machinery		 14,514 14,514 23,396
4,500
Postage and stationery 1,187 1,187 784
Telephone,
internet		 and
ITsupport 8,047 8,047 8,491
Minibus expenses 23,793 23,793 19,486
Minibus
hire		 12,222 12,222 15,409
Independent examination and
accountancy fees 1,267 3,000 4,267 7,248
Miscellaneous expenses 2,719 60 2,779 2,471
Legal and Professional fees 193 193 1,888
Depreciation 7462 7462 14722
532,662 62,388 7,320 60 602,431 578,551

THE PHOENIX PROJECT (IOW) THE PHOENIX PROJECT (IOW) THE PHOENIX PROJECT (IOW) Page
NOTES TO THE ACCOUNTS continued
FOR THE YEAR ENDED 31 MARCH 2023
7 Incoming/(outgoing)
resources forthe		 year 2023 2022
E 6
This is stated after charging:
Depreciation
on tangible		 fixed assets 7,462 14,722
Operating
lease charge		 27,500 15,409
Independent
examination		 fee 3000 3000
37,962 33,131
8 Staffcosts 2023 2022
6
Employee costs during
the year amounted		 to:
Wages and salaries 406,186 378,445
Social security costs 17,867 17,046
Pension costs 24 055 23 179
448,108 418,670
Staff costs are allocated as follows:—
Project costs 391,901 360,893
Supportcosts 51,887 53,530
Governance 4 320 4247
448,108 418,670

Tangible fixed assets
Cost		 Fixtures &
Fi~incise		 ~Et Motor
Vehicle		 Total
F
At 1 April 2022 2,978 25,160 52,160 80,298
Additions 4 320 4 320
At 31 March 2023 2,978 29,480 52,160 84,618
Depreciation
At 1 April 2022 2,285 22,994 41,662 66,941
Charge
in the year		 104 2 359 4999 7462
Eliminated
on disposals
At 31 March 2023 2,389 25,353 46,661 74,403
Net Book Value
At 31 March 2023 589 4,127 5,499 10,215
At 31 March 2022 693 2,166 10,498 13,357
THE PHOENIX PROJECT (IOWj THE PHOENIX PROJECT (IOWj THE PHOENIX PROJECT (IOWj THE PHOENIX PROJECT (IOWj Page
NOTES TO THE ACCOUNTS continued
FOR THE YEAR ENDED 31 MARCH 2023
10 Debtors 2023 2022
E 6
Debtors —fees for day care support 41,606 50,295
Prepayments
and accrued income		 2 654 4 454
44,260 54,749
11 Creditors: amounts
falling		 due within one year 2023
E		 2022
f
Creditors —amounts
due for project costs		 2,751 5,174
Other taxes and social security costs 4,614 4,982
Accruals and deferred
income		 4,495 4,247
Pension contributions
due		 3401 3070
15,261 17,473
12 Financial instruments
2023 2022
E E
Carrying amount offinancial assets
Debt instruments
measured		 at amortised cost 342,234 313,358
Carrying amount offinancial liabilities
Liabilities measured
at amortised
cost		 ~15725 ~17473
326,509 295,885

2023 2022
Land & Land It
~Bildi 0th ~uitdincus Other
E E E
Expiring:
Within 1 year 2,292 8,804 9,492 5,870
Between 2 and 5years
9,492 9,492 5,870

2023 2022
8 F
Service Development 10,000 10,000
Minibus purchase 70,000
Conservatory building 20,000
Buildings and maintenance reserve 20 000 30 000
120,000 40,000

Transferred to
At 1 April Income Fund unrestricted 31 March
2022 received Expenditure fund 2023
E E
iPad & Projector
Wood 'n' things		 1 557 1,000 (1,000)
~1483		 74
Total 1,557 (2,483) 74
Comparative Restricted Funds
Transferred to
At 1 April Income Fund unrestricted 31 March
2021 received Expenditure fund 2022
8 F
Wood 'n' things 6,057 (4,500) 1,557
Total 6,057 (4,500) 1,557

Total Total
Unrestricted Designated Restricted Funds Funds
Funds Funds Funds 2023 2022
E E F E E
Tangible fixed assets 10,215 10,215 13,357
Current assets 224,815 120,000 74 344,889 317,812
Current liabilities ~15261 ~15261 ~11473
219,769 120,000 74 339,843 313,696

Compar ativ e
analysis ofnet		 assets between funds
Total
Unrestricted Designated Restricted Funds
Funds Funds Funds 2022
E F E
Tangible fixed assets 13,357 13,357
Current assets 276,255 40,000 1,557 317,812
Current liabilities (17,473) (11,473)
Non-current liabilities
272,139 40,000 1,557 313,696