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||||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|
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|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|
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|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||
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|||||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|
##