Charfty ro9lstratlon numbar 1141567 Company reglstratlon number07508521 (England and Walul THE PHOENIX PROJECT (IOW) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE PHOENIX PROJECT (IOW) LEGAL AND ADMINISTRATIVE INFORMATION Tru$tee8 Mr G Kendall J E Newton A se[r$ Mrs V J Hein MsAJame>Neau pdntsd 4Apnl 2024) Sonlor managemont Sarnanlhawhithngham Chi8fexgartive offi¢er Chaiity rtumbor 1141567 Company numbgr 07506521 Reglstered offlce The Phoenix Cenlr 36 Salbrs Road Haylands Ryd& Isle of Wlght P033 3HU Indèpgndènt wminèr Moore {South) LLP 9 St Johns Place NgWPOrt Isle ofwght England P030 1LH
THE PHOENIX PROJECT (IOW) CONTENTS Pagè Trnstees. report Independent examinats raport Statement of financlal 8divities 8nce sheet StatsrDenl of cash flowB 10 Notes to fhe financial statements 11-23
THE PHOENIX PROJECT (IOW) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Thg Trustees presgnt thelr nUal report and thancial slm8nts forthè yo¥ènd&J 31 M8rch 2024. Tha finarKial stments have been preparèd ateord#ne• wlth thè accaunllng policies Get i)ul In nole 1 to the fknandal statements and cgmply wlth the ChaiiVs s Memorandum and Artrdé8 of Assoclallon, thé Companlas Act and 'Aunting and Reptsrttny by Ch8ritias.' Stalamènt ot Recommended Practice appli¢Able lo ¢harili9s preparlng Ihelr ?ccount¥ in aCcOrdar w5th the Financial RepOrtW Standard appll¢abk kn thÈ UK and RÉrAJbllc of Ireland (FRS 102). (effeetive 1 January 2019). Oblectlves and adlvttl¢$ Objects ofthe Chartty The r¢rf of people a need by rtuÈ of thdr lèamlng dlsablllty and prevenllon of the same. Such reThef and prevention to be by any ar gvery means induding Ihe proViOn OT prorjjring of rÈcrègb"onal and orxupallonat 8Gbvttles, car8, advocacy. treatrnenl, ¢du¢>bonal traSnlng and other support o)rnmensurate with Ihelr ne& Leaming disth1ty shall mean any mental handicap or dÈvèlopmÈntal dlsabllty of the mind and any associ8t8d condillon hNsoever and I1h whatsoever vJnsequ¢ncos. Oblectlves of thg Charity The Phoenrx Projects obiedivo is to pro8 a uniquè. ffl*Afble. hlgh-quality seNl¢e for IndldalS vAlh Aullsm and Leaming D153bnili95, offertng a raNJe ol valued aclwllie5. Many indiwduals with Auttsm and L£grning Dlsabllltlas face challenges such as isolat, difficu&5 in maklTrg and maintaining frient15hlps and a tack of independenc6 whlch have a masslv¥ Impact on thelr abllity to reach their full poténtlal. ènjoy lifè. and ntribUte to soclèty. Th8 PhoenSx Project pwdes an expert and highty motiv8tianal 5PEcTrali5t envlronmenl within people can leam naw skilT5. malntsln frfendshlps, and develop irEdÈpendence. Volunteers Thg PhniX Project has a group of much valued Voluntee wa1ng ak¥ngsldè our staff team. enabling saNce users to have additional support when participatlng In adMle& Over the past year votunteer8 have provided over 100D addth)al hr$ to Ihg service. We mlly appreeiats Ihat they give up th8ir own time to 8UPPOrt the organisatlon. Pubkc benefft Thg Tru819 have pahj due regard to guidance i83ued ty th8 Charty Commlss(on In dwAding what adiwities the Charity Bhould undwtakg.
THE PHOENIX PROJECT (IOW) TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and performane• Signiffcanlacliwli&s 8ndaohAgyementsagalnstobJ&el The Phoenrx Projecl continues lo fu]fil Its mlsslon of prowding a unique, fioxb. hh-qu4ty seNlce for adults wHhAutlsm and Le8mlng DlgabElthes. usef8 havè beèn abb to part1pOle In a wlde vart8ty of different athitM over the past yéar, leamlng d developlng skls and ¢xpr85$1ng thgmselves through creatNe ijuue have been able to empby a dan¢8 instnjctor this year who has introduced now dance lechniquÈ# artd encouraged greaterparttaP3ti0n. We have beèn fortunate to havg boen ablp to purchase 2 wheeld]air a¢xasslblB vehKle¥, Ihes& glvg $grvlc& usors thB ability to acce88 the commvnity Bnd tsk8 part In acthAftès, Including golf. swimming and sp8d81 events. Unfortunatety, bad weather has meant that several key events Ihai ourwoothyork and gardenin9 groups usually atteThJ hav¢ been wicdleil. The gardening group hav6 expanded their ¢vstom¢r base. throu growEtg and selllng pl8nts and v8gelables. maling up Veg boxes Ihal aro sold to $tOMerS in the local area. W)od 'n' Thlng5 have conltnued to dgvelop woo(hYoTk prc¥Jucls to sèll. n8w for 2023 havg Indud8d Vthndmlll planters. The group have made bespoke Items for 88veral other charity organlsatiorhs indurfing benches for the donkey sancluary and sh8lvin9 arKS troueys for thè Isjè 0[ght food bank. Monoy waG ratd lo purth8¥6 a CNC macknin& IM]Ilst we do use ¥p&¢ifK kgy pthan¢e In¢ficatOTS to measura outpuls, we Ih)Id regular meeUng8 and rovjèws sarvirA users lo monilor the ouiwm&s of their wHh the Charity. Many of our sÈpAc• vsérs ar8 long4gm re¢ipients of our athvili and caro. Sadty, on? of w original volunteeF5 pa5S8d away. Ken h•J wothed tireles to Sat up th• wotkshop. wortung whh thg slaff and $eNIc8 usets over the past 5 years. We werè so gralefijl everything he thd. he is r881ty
THE PHOENIX PROJECT (IOW) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (COl+lTINUED) FOR THE YEAR ENDED 31 MARCH 2024 stafflng Thè Straff team ar8 W to SUring our eustomers ra(iv6 a qualty promsion. We conllnue to Strive to d811r an xcellenl servicE, wlth Importance pCed on ensuring that 8taff are It¥ined lo a htgh 8tand8rd. Ovar tho past year 81aff have undertaken addltional tsning in ar8a8 addrèsskng physi¢al hea1 mobility and commllnk8lbn. We have been very fortunate to h8vèWèIrnttd sèveral now volunteors. of VAFwng agaswtto all Lylng something neèj lo the senAce. Fundrnithgpgrfom7anGg Fund Ralslng & SupporL We havg fvndr¥is¢d in a vartety of ways In¢TudSrwJ tho]r performances at Tesco and A8da, sales on eBay. raffles and the Christm28 Bazumblé. Donations have been rorad frttm bofh IndNkJuAls and organisathons. indudlng money donated trj th8 ntro in met1aM ofpassed Serv] users. We havg iwi fvrtunale to grant funthng from Hampshire arKI Isle of Igl Communlty Foundallon for dance tuition. Borrat Homes for 8 CNC mathine #nd IW Fcundatton for a new conserwdtory. Wo are uratsful for all don8lh)ns trAlth blg #nd small, ha rehftd overlhe pastyear. 111
THE PHOENIX PROJECT {IOW) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED} FOR THE YEAR ENDED 31 MARGH 2024 Finanthl revlew The Charity reported an overaH dofiot of £13.135 in the year lo 31 March 21724 (2023 - surplus of 26,147). compring a defieii of£13.353 on nra1 fvnds. and a 3urplvs of £218 on restrlded fijnds. b8fore transfers. I8141 incorne inrr88S8d by £9,456 wtnpared to lasl year. whilsllhg total expenditure inueased by £48.737. Thè Marity of Iha tharitys Income derives from paymenls for care and actMtiBS promded payablè froTn the benekiaries personal budgets. The d7arity ha5 strived to keep incieases in fees lo an affordable level and are sel In negutlauon wlth Ihe10¢81 authority. The costs arè largely staff rdated and fink to the prO510n of thè Phoenix Centre and those costs conllnu& to rfse In accordance v4ith pay sedlem8nis. tax and pènslon thanges and olher sl pressures. ¢harfty SUPF4emenls Income with donallons and fimdratsing ad11183, IncludlThJ 6mall grAllts for equipment. The Trustees betseve thal the tharity needs to build th¥ 103erv88 lo ev1e 6ervFc6s al th& curréntlovèl to coniimt6. Although. re¢¢nl y¢ars iesutts havg been small defirAls and SVFpluses, theré 8re Ix)sl pressures forese&n in the coming year, indudin9 nationat insurance rfses, so th6 twstees continue to explore ways to improv8 thè positton and bulk5 re$etvEs. During Ihe cur(ent year. thè de1 w8s EBrgety ue8ted by an upgrad8 to the conservatory. rèplacèment boller and door, fundswero investéd in newnNnibuse& Re59?polIY The Chwhty nBeds to awumulale resBNes to protec the charity from unforeseen CIrmstanCes. and lo provkle ¢r1nY oflls 8ervlce& AS the actitieSere tr3nsferted to Ih8 Charity from the NHS. togetherwlh slaffing costs, there are polenlial future obllgauons fvy staff whom transferred under Ihg TUPE wulaltons. and rèsponslMIUes for tho Ifrfaixdation3 and maintenance oflhe building. as well as developlng sèrvicas. The Ttee& hav8 theTefor& Continu lo designate reserves lo prod& for dèvelopTnent of the Senrt. and lo pmifjde for futurè project ¢05ts, including senrtce develos)monl £10.OCQ, and property generalty £20.0(Ml. wh maintslntng th6 conunulty ofthe Servi$. The Oesignated reserves were therefore stated at £30.000 (2023- £120,000) as $EN)wn In rkol* 22. Restriraed funds of £1,650 (2023 - £741 rewe5ent unspent donattons given specificalty for the purchasè of new machkneryforlhe Wood'n. thin95 proiecE and forthe provision of weekty dance sÈ&8lons, as $hown in note 21. A general fitnd reserve based on SSX month5 runnirwJ co8t8 Is consid8rod desirabla by Ihè Ttusl885. whith would arnounl to £300.000. CurtentTy free re8erves at the year-end 8mounl 10 £231,798 after desfgnated and tsèd 8Èsets. which represents 4 months operaung costs12023 T888Ne5- £209. 5541. Tl$Ve] of reserves Iugh1 foThYard. plus the small defi1 tho year lo date have provtded the Trustaes wtth th8 reasonable expectatton thal IhE Chaiity can wnllnue lo fflanage these operalional rtsk& Consequently, the Trustees bebeve thal il 1$ approwlale lo applythe going concem basts ol au419 in pr8wing these accounts. Responsibllity for tha day lo day operation of the funds donated and received by The Phoenlx Pr0cl has beèn deteu4led lo the financ4 MMIttee. Currenly the fund¥ aro hold on deposit with the Charivs bartkers. Majorhsks The Trust88s have eonslderèd Ihè tisk8 that the Charfty faces. and hav9 implgm9nted pofNios to m8nag• 8nd S81gguard Ihe charity froTh ailverse effeds. Al rtsks on tha rlsk reviow are monttored regulady. and 811 Èctwtt4e$ and seTrice users have individual risk assèssmèftts. A tore part of the rfsk assessment PttsE9581s m¢Jnitoring the car• and 8(IhAUes provklèd for $eNi¢o users.
THE PHOENIX PROJECT (IOW) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for futuro p•rfods ov thè nexi year wé are ljoking to wort mor¥ dos61y with other prnders and tho bcol authority In order better under51and fvture iequir8m8nls. We are looking to providÈ addonal staff trainillg, including training $pecifK to SUPPDrt relationship and aid better communlcaJon. Ovw the eomln9 alm Is to ratso funds to kn¢rease Ihè bulldlngs ac¢esslblllty. to prode indMdual8 wilh gr8akT independen¢e. Stmoturèi gov•rnan¢a and m8n8g£mont Thè Charlty ts Inrporate as a eornpany limitèd by guarantee and is regi51ered in England and Wa]es wtth thè registered number0750852q. Th8 cornpany has n9 share capttal allhough the subsbErS of th8 Memorandum aro obliged lo contribute a Sum towards ¥etWing Jia lbI.11S not excoedirvj £1 each In Ihe event of winding up the Charitable Company. Thg Ch8Tity Is r8glste¥ed wth tho Charity Comrnissjon tho registered number 1141567. Tho Charitab Comp8ny was incorporated (x) 27 January 2011. and establtshed 8s a ehsirfy by [15 MemDrandum and Artid85 of A650ciation on 21 April 2011. Thp Charity is conlrollpd by a board of Twst8e8. w5th day to day TnanagèTnènl dglggaled to Ihg Chief Exgcutiye Officer. Tho Trustees Are also th& direcknrs ol the chaTitable ¢ompany for the purposes of charity law. The Board of T[Lts95 rneg15 quarterfy. and ha¥ 9Stablishgd ¢orTmfttg9s trj l¢)ok at speofi¢ aw$ of Ihtr Ghaiws woth. 8u¢h the Ftnance Cornmittee. Govern8nce and RISK and Fundrai8in9. Aangements foT the rwew ofstaff 15 undk bylhg Tru¥lgg5- althgugh staff pay irv¢a8gS 9ukled bylncTease5 In mlnlmum and INing wage levels. The Trustee8. who are also thg diroc*¢rs fgrthe purposo ofcompany law. and who sewf dun9 the yw and up to the date ofsignatyre of the ffinanoal slatem8nts weie: Mr D Ive$ IResigned 28 February 2W) Mr G Kendall MrGLDay J E Nevrton Mr R EIU5 ASelfjr¥ rsVJH¢in MsAJames-Neau {Ro$19n 28 FebFU8ry 2024) (R?slgned 28 Febwary 20241 (Appointsd 4April 2ff241 R8¢nJilrngnl andsppointmant 01tSta&S TrustÈ8s arè appointéd by vlrtuè of thalr damonslratlng aNlhles of value to tha Charfty and by Invltallon of tho current board of Trustees. The ehartty seeks 8 broad range of sknTs tts assist th8 charity. 8Rd $0 seeks representation from the project's 8takeholder8 and benefficbBrie8. Twstees are proded an Indudion pack and tsainrng is plded. The TNslee3 have all urKlertaken trustee awarasS tralnlrwJ.
THE PHOENIX PROJECT (IOW) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 IklARCH 2024 Thg Trustg epurtwas approved byth8 Board of Twslb88. JENewt Trust0& 4N)eJh 22 January 2025
THE PHOENIX PROJECT (IOW) INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF THE PHOENIX PROJECT (IOW) I report lo Ihe Trusteas on my examination of the fthandal ststements ofThe Phoenix Projw* OOWJ Oh8 Charity} for th8 yaar endéd 31 Trlarch 2024. Responslbllltios and ba51s of report As ihe TTUStees of the Charity land also its diFedors for the puwes of company law) you are rpOnsIble for the prepatatltsn rrf th6 fjn8ndal slatèmnts K) aco)rdanc• ¥th the requir8m8nts of tha Companlés Act 20( Oho 2008 H8vinu $JltsfieEf mysdf that the Iln8nctal stat8menls of the Charity are Th)t requlred to be audttad under P8rt 16 of th8 2008 Act and are eligible for independent examlnation. l Teport in respect of my examlnation of the CharW8 nan(xal 8tat8m&nts Garrled out undér section 145 of tha Charities Aca 2011 {the 2011 Act). In cairylng oui my examlnalion I have folkwed all the applicable DirecfjDns given by tho Charity Comrnlssion under section 145(51(bl ofthe 2011 A Indendant examlnets statèment Sinc8 tha Chartty's gross incom8 •xc08ded £250,OOD your examw)er must bo a m8mbor of a body listed in secOn 145 of the 2011 A¢L l Confirm that l affl qu81ffjd to undertake the examinatton because I gm 8 member of th8 Instilute of Chartered Accountants in England and W81es, which (s one of Ihe li8ted bodies. I have Mpleted my examination. I confirm that no maltets h3V8 )rne lo tTry attenlion in connedion with thg e&MInatiOn ging me cause to b8]ieve Ihat in any maleT(al respect: occouning records were not kopl in resped of the Charity as requred by section 386 ofthe 20 ACL or Ihe Ilnandal statements do not accord wth thos8 rerdS., or Ehe nan31 statements do not rAY wlh the a¢vli9 r8qUiTements of 89¢tK)n 396 of the 2006 Act other Ihan Any tequlremenl ihat th8 ar¥))unts give a true and fair viewwhich is not a mattor Djnsideied as part of an independpnt ex8rninatitsn' or th8 ffinanu81 st8t8rnents have not been prepared 6n 8Ltor4lance the method5 and ptinciple5 1st the statement of Recommended Practkg for aOUnting and lgpgtting by thatities applicable to ¢hariti88 preparing thelr accounts in 3¢0)rdan with the Flnan¢ial Reporting Standard applicable n the UK and Repuiqic cf Ireland IFRS 102). I have no tm$ and have CA)me across no other matters In (onnedon wlth Ihe examinatlon to whlch attenuon Should be drawn in this rep in orderlo enable a pr()per und8r5tanrfin9 oflh¢ ffinawal ststements to be reached. Tc)MJdio Danl81]e GI1[n FCA Moore (South) LLP 9 StJohns Place Newport Isle of Wght P030 1LH glaj Lf
THE PHOENIX PROJECT {IOW) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrfoted RèstActed funds funds 2024 2024 Totsl Unre8tr1cted Restrl¢ted fund8 funds 2023 2023 Total 2024 2023 Nolos Income from.. Donal(ons and legades Charilabye activities Othertra(fing adivEMe8 Inveslments 4.581 806.139 3.034 2.239 22,040 26,621 606.139 3.034 2.239 3.757 620.032 3.184 4,757 620,032 3.184 Totsl Income 615.993 22.040 838.1r33 627.578 628,578 Expondlturo on". Rai5illg (unds Chawitable acknvili85 othw 8xperKlrtui8 60 602A71 828.194 24.762 650.956 602.371 13 Toial 8xpendltura 626.4( 24.762 6Sa.168 602.431 602.431 N•t IncoM•llexpJdItura) (10.413) K7221 {13,135) 25.147 26.147 Transler8 betsveen funds (4,298) 4.298 2.483 {2.483) Not movoment In funds 10 {14.7111 1.576 (11135) 27.630 {1.4831 26.147 Raci)nciliation of funds: Fund b818neAs at 1 Apfil 2023 339,769 74 339.843 311139 1.557 313.696 Fund balanc•s at31 Mareh 2024 325,058 1.650 326.708 33&769 74 339.843 The statement of finandal 8cthiitlès indudes al ga and k)sses recognlsed In the year. AD Inm6 and expendkure dewivefram continn9 activilles. The noles on poge8 11 to 23 form pgrtoffhe88 fin8nc4al statements.
THE PHOENIX PROJECT {IOW) BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed ats Tangikle 8$8¢ts 15 68.220 10,215 Current assets Debtors Cash at bank and In hand 16 63260 44.260 300.629 299.705 344,889 Creditor5: amounts falllng due wilhln gne yèar 17 {41,217) {15,261) N9t curTgllt wets 258,488 329,628 Total ass•ts Itss cuThont Ilablllllgs 326,708 339,843 Th• lunds ofthe Charity Restsicled Incorne fynd6 Unrestricted funds 20 21 1.650 32S,¢)S8 74 339.789 326,708 339.843 The notes on pages 11 to 23 form patof Ihe$6 Ilnan¢lal $tstem¢nls. The ¢ompany Is entitled to the exempllon from tho oudlt reqthment rLffitained In sectlon 477 ofthe CompanlesAct 2006. for the year ended 31 March 2024. Tho direcEors aCkedge their n$1b11iti for complyln9 wlth Ihfj rgqutremgnts of the Companlps Act 2 with r85P8Ctto autIng records and Ihe weparation of financial stal8m8nts. The members hav8 not required th8 tmpary to obtain an audit of its finanoal ststémènts forth• Y In quastion In 8wdan¢s wlth sgcuon 476. These financlal statements hav& been prepared li •>Y)rdar with thè pmision3 appftsblè lo compleS subleG the sm8]l ¢ompanlfrs reglmo. Thefln slatements were approved bythe Truslees on 22 January 2025 JEN Thjst on Company Tegistran numbw 075(18521 {England and W¢$)
THE PHOENIX PROJECT (IOW) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note8 C•9h flows from operntlng acllvltles Cash generated from operations 25 8XL3 41.281 In¥tIng activilleg PufeJ)aaÈ of tangibl8 fixed assets InvèAknénf income raxved (74,64SJ 2,239 (4J20) 605 Not ¢ash u$od in Itt$ting actmlles ff2.4OY) (3,715) Ntyl cash used In finan¢in9 activStles N&t (dg¢r8a$•)nn¢rea8e In cash and Cash equlvalents (64.1841 8760 Cash cash equwdents 81 bennIng ofyear 31x1.9 269,OB3 Cash and ea8h oqulva19nts atend olyear 236.445 300.629 The notes on pag¢¥ 11 to 23 form M ofthese financ#d stalamenfs. 10-
THE PHOENIX PROJECT (IOW) NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounOng pollcl8S Chaity Inlomiatlon Th8 Phoenix Project (IOW) is 8 private ¢ompany nmlted by gUAf8nlee incoTForated In Engl2nd Wales. Thg r8gistored office i¥ The Phoenix Centre. 36 Salters Road. Haylands. Ryde. Iste of Wwhl. P033 3HU.In lh8 event of the d)#rity wound up, Ihe liblhty In respect of the uuaranlee Is fimiied to £1 memb8r of lh¥ charity. 1.1 Accountlng ¢onventk)n The finanaal statements have been prepared in acwTdance with th8 Charit$ memorandum and aTbdes. the Companies A¢1 2006. FRS 102 Financlal ReportÉng Standard appfjcable in th¥ UK Rgpyblic of Iretand. CFRS 102? and the Charities SORP 'Accourhting xrt(l ReporbryJ by Charilfe8.' Stslement of R¢commended Practlce appllcable to chafilies preparng Ihelr accounts in accordance vllh the Financial Reporfing Stsndard app¢¥b]e in the UK and Republlc of Ireland (FRS 102}"18ffedsve 1 January 2019). The Charity is a Publlc Benefft Enttly as defined by FRS 102. The financial statements aJe prepared in sterfing. which 15 the functional currenGy of Ihe Charfty. Monetsry amgunts In thps9 finandal stalemenl$ are roundwj to the nearest The finandal statements have been prepared under Ihe hislorKal o)st conventlon. The prfncApal accountlng pthes adopted aro set out bth. 1.2 Golng concem At Ihe titne of ap&¥Ov79 Ihe finanoal statements. the Trustees hav8 a aSonable exkw1a1i that Ihg Charity has xdtquats rè$ourees trt continu8 in opèrational existence for tha forèseeablè luture. Thus the Twstges contlnue to adopt the go9 concern bas15 of accounting in preparing Ihe financial slalemenls. 1.3 Chartiabl• fund$ Unrestricted funds are available for use al ths lSealk)n of the Trustees In fvrtheran¢e of the general oblectives of the Charfty. and whtth have not been designated for other ptsrposes. Designated fvnds (¥mprise funds vthi¢h have been set aslde at the discretion of the Tru$iÈes for specific PUfPOS8s. The purposes and u5B5 Dflhe de51gnabJ funds a Sel out in the nobs lo the ffinancial 5taletll8nts. Restrtcted fvnds are $ubj8¢ tt> spgiyfic by dDnots or gralltQTS as to how they may bg U59d Thg purp08es and u8e8 of the Te8trfthd funds are Set oul in ihe not$8 lo the fflnanThal 8tatemen 1A Income Income is recognised when the Charity is leyally entitied to 11 after any perfomianc• condiOn$ have been m8( thè 8mounts can be meAsured reTh8Ny. and H Is probable that Income wlll be reNed. Legades are re¢JIsed on re¢e]pl or Othe If Ihe Charlty has been notllled of Èn Impendlnu d1stributn, Ihe amount is known, afKI TeIptI3 expected. Grtt8 In arg reco9nlsed In the Statement of Flnandal A(altIeS on the basls of vue to thB charfty where the cost can b& ascertained and figwes obtsined wfth a high degree of certainty. No amounts have b8en iDdud8d for dgnd time by vDlunt8èrs. Gtant IncoTne includlng govemmont gr8nt8 arg recognised when Charity is entitled to fhe fun¢8, Ihe recelpl Is probable, and the amourrt6 ¢xn be quantified. Incoma foT the f88s for s8rvlc8 d8fvery and tharge5 for day ser¥kes and actMli8s at th• Pho8nri Propct a r8fl¥cted in tha perfod thts3e Ser8 arg deUverÉd.
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 A¢ctsunllng pollclés Icontlnuad) Inojmo oam8d from fundr8lsirtsJ avenl$ and trathnu activmtes to ralse ftmd8 for Ihè tharfty are rocognised vthen gntiU8rnenlha8 occu11. Glft ahj Is r8cognb9d lollovAng rec¢lpl of the dalm from the Inland ReveNJ Inv&shnort Incomè is eam8d thTough holding assets for hwestmenl purpos88 sud) a8 ¢2sh deF4)sits. 1.5 Fxp•ndtturn pendilure Es regnised onca there Is a leg¥1 or construruve obligauon to transfer economlc boneffit to thitd pawty, it 15 probable that a transfer of econ benefts wil bè re9vir in s8fli8ment, and the arno1 of the obligation cart be measure41 refiabty. All expenthture rs accounted for an accrusls b8sls 8nd has b8en daSSed under heathgs that aggregate 8ll (y)sts related to fhe category. The Cost heading$ induding staff costs, thcuy attntjulable to th8 proiaci logether with support cosls ompri81ng all serth8 supplted ceTrtrdly as identifiabEè as whotty or m8inty in support ollhe ac11ty. Wh8r8 cannot be diredy attrlbuted they have been gllocal8d on a consÈstenl Y4th use of Ihe Central OVeTheads are allocated on tha basls of th81r use wlth Ihè alm of 4nsuiiro that those ¢)stS rgmaining wlhin govemanc8 reTr8t• to th8 m8nagèm8nt of fhg thanvs assets and comlance wilh u)nstilulional and Statylory requrrgN]enls. Res0 expEnded in¢Judo VAT. which c3F01 be recovered. 1.6 Tangiblg fixgd ass•ts Tangible red assets are slat•d at cost Ipss 8(xumulated depre¢ialion and accumulatgd I1[nI losses. Cost Indudes eosts direeuy attlltwlable to maktng the asset capablè of operating a8 Intended. Assets below E500 rnay not be genera1lycae. DeprlatIOn is r8cognis8d so as to wrlia off th8 CO81 orvajuathori ofassets less Iheir WKlual Wdlu9s overtholr U5elul 11¥88 on lh8 fowowing bases: Fthr85 and fftbngs Mototvehld8S Equlwrterrt 15% on iedu(¥ng balance 12.5% and 25% on stialghl Iln 20Yv and 33% on straighl lin¢ The galn or loss aiising on th8 disposal of èn a5Eei b5 as the differen ben the sale proceeds and the caftyng valuo o1th8 asset. 8nd Es re¢o9nised In the statement of finandal actlvHies. 1.7 Inwimiènt of red Al each reportlng end dale. thB ChttY r8vi8ws lh8 carrying amounts of its tangibl8 assats to deternil whether th6r• Is any Indlth thai those assets have sufferad an Impalmienl loss. If any 8UGh in(llcation sts, the recA)verable amount of the assel Is esllmaied In to delomiinE the extent of tha impaimwrt loss (ff an. 1.8 Cash and cash equlvalents Cash and Cash equivaknts indude cash In hand, d¢po8Is held at 11 vnth banks. olh8r short-tgmi INwid In51Mèn{S with original maturibes of three nw)nths or less. 8nd bank ovgrdraft8. Bank overdrafts aro Shown within borrowings in [ntIlabl]it[e$. 12-
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Acttounting pollcles Icontinuèdl 1.9 Finan¢lal Instrumènts The Charity h¥$ de¢ted to apply th8 proS1On8 (rf Sècllon 11 'Ba8lc Flnandal InslNmenl8' and Sedttin 12 'Othèr Finandal Instruments Issues. of FRS 102 to all of itsfinanaal instrurnenls. Flnanclal InstrUnts &e reco9nised in the Charfvs balance sheet wh8n the Ch&ity becom&s party to the ntradual pMVl$Io oftho InslrumanL Flnalldal as591$ and li3biliUgs aro >ffseL wtth the t1 am¢)unl$ presented In th¢ finandal statements, whfjn there is a legalty enfort8ble Iight to sel off the r&cognisÉd amounts and there is an intention to setlle on a net bast5 orto realis¢ the assd and setue Ihe liabllity slmultaneously. Bosk fin•ndalassets Baslc finandal assets. which indude debtors and cash and bank balances. are initialty measured at transaction prfc9 Induding transaction and arg 5ubsequgnlly carrled at arnort159d cost using the gffedivo interest melhod unles5 the arTangement con$titut8s a fjnanung transactiOTh, where Ihe transarlion is easuTgd at th8 PTes8nl valu8 of the future reGeipts diSGounted at a fflaiket rate of inteiesL Finanual a558ts classified a8 receNablèwilhin one year are not amoritsÈd. Bssie ffnan¢i•llf•biltties Basic fiThanclal liabile. induding creditor$ end baTrk loans are Inllalty Teoognised at tran5?¢tson pri¢e unles$ tha arrangement oJnstilute3 a finanung transÈctién, whÈrè the debt in8bvm8nl is measured at the present valu8 of the future payments discounted at a wnatkEI ratE of Inlerest. Flnanclal fiabililEs dassthed a5 payable wtthirj one Wè not arno$&d. Debt Instrumwts subsequenuy rarrted al amortlsed cost. uslng the effecuve Inleresl rate method. Trade uedilois are obligations to pay for goods or seMc05 Ihat havg been aeqvired tn Ihe ordinary course of OperaOnS from suppliars. Amounts payablè ar• dassified as current liabilrti&s if payment is dua within ona year or less. If nol. IW ate presented as nonrfurrent liabilities. Tradè ¢reditor$ a r09lSed iniknally at transacbon pric8 and subs6quant maasured at amortised $( using thè effeclNe intor6St mèthod. D•rncognlUon olllnanclal IlahlJRles Firrancial Imbilities are deregnISed when the ChariVs contractual obligations expiTe OT are discharged or cancdled. 1.10 Taxation The charliy Is an exempt charity within thg rneaning of schedule 3 of the Charities Ad 2011 and15 consldered to Pass thè tèsts sat out In Paragraph 1 Schadulo e Financ4Act 2010 Bnd Iheretore It meels th& definitson of a ¢PlIab cornpary for UK cnrporation tax purpow. 1.11 Employeo benefi Tha cosl of any unusad hOdaY entittement 15 Tecognised th8 period In whlch the emph)yee's semces aTe eived. T8miuiÈlon banallts 8ro TaLI)gnlsed Immedlatety as an 8xp6ns8 whan the Charity is demonstraw MMitted to leInate the wTrployrnent of an eMpyee wlo prthnde tetminatiDn brfits. 1.12 R¢tlrèment bèrItS P8ymenis to defined oJntnlJuknon retirement benefit schemes e charged as an expense as th6y fall due. The TTlISt operate5 a defin wntribution stakelNAdgr stheme for gmployg9s who did transfgf frorn the NHS. Contrtbutions are charged to thè Statement ol FinancAal A¢tiwtie8 $a thèy bets)me payaN8. The Charftable CompY[S also 8ifmittwJ prnpbygr oflh8 NHS p6n$10 schomg for ¥l¥ff whv tran¥fgrrgd lo th8 Trusl 13-
THE PHOENIX PROJECT {IOW) NOTES TO THE FINANGIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Cfftal accounttng •stlmatas and judgements In the zppllcat5on of the Charity's arcourthng polldeA the Twsiees are requirad to m3ke judgemen estim¥les and assumpfions about the carrying amounl of assels 8nd liabthligs Ihal are not readlty apparent from other sources. Th6 esllmates and associated assumptfons are based on historical expeilentte and other laGtOTS th* are con$idered lo be relevanL Acbjal r&sults may dlff8tfroEll Ih888 8sbfflales. Th¢ tharity has tgviewed its a¢Unting potctes and cOn1kn that Iherè aT8 no 8r8as requiring cthl accounting esbmat&s orSil[leantludgeMentS In fhe preparation of ils financlal slalements. Ineomètrom donatTons and legacie8 UnreBtrlctsd ReEtrlcted fvnd¥ nds 2024 2024 Toial Unr•strlclfjd Règtrlctod funds fund$ 2023 2023 Total 2024 2023 Donalons and glfts 4A81 22,040 28.621 3.757 4,757 DDnatlon¥ and 9ift8 lTrdividua15 Olher charities Corporations Other 2.781 745 995 2.781 5.785 17.995 1.759 250 1.748 1.759 250 2.748 5.040 17.000 4581 22.040 26.ff21 3.757 4.757 Incom?from chaAtablg activiti6$ Unre$trl¢tgd Unrostrictgd fund$ fvnd$ 2024 2023 Charltable aGtlvlU•s Other income 606.139 620,032 Income from other tradlng acdvlllès Unro$trf¢ted Unresttlcted funds funds 2024 2023 Fundral8irvJ events 331 3.184 -14-
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL sTATEME[s (coTririNUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from Invostments Unr•8trfctsd Unr88trfthd funds fund$ 2024 2023 Intere8t receyvablg 2239 pendEture on raf8lng fund? Unrestrlctèd Unrestrlcted fvnds fvnds 2024 2023 Fundr&lslng and pubmolty otherfijndralslng costs -15-
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on chaTltabl8 a¢tlvlllg5 Charltablè C08ts 2024 Charftable Costs 2023 staff G051s Depr¢cplion Proi8Ct CO818 Ttaining and staff theck8 Insut8n Rent, rale3 utilttles Rep[. hovs8hokl and cleankng Mfnibus exp8ll308 Legal profe¥sional fe88 OlhErco&ls Conversatory. (loor and boilBr repaiT8 375.018 1e,472 23.099 391.901 7.462 23.4119 3.142 S.547 47.781 14.514 36.015 193 2.719 4.058 49,619 20,251 28.627 562.385 2.663 Share ofsupportand govèrnancè COBts (S notè 91 SuPrt 91.133 7.438 fy2.388 7.320 850.956 e02.371 An8ty519 byfund UrLrestn"cled ftmds Rèslrictèd funds 626.194 24.762 eA)2,371 650.956 602,371 Support costs allocat•d to actlvlti&$ 2024 2023 76,586 51.887 1,187 8.047 1.267 Postage and statronary Telephone. Int8n*t and IT support Ac(yJuntancy 5.949 7.438 98.571 69.708 Analyswd b9tsYegn: ¢horitablg 9871 69.708 16-
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 N•t movement in funds 2024 2023 The net movement in 13 ¥tal8d after ¢h8rglnglluedllng)'. Fetts payabiefor tho Indopondent oxamlnation of the ffnanclaj statements Depation of (red langibl8 fjxed assÈts Loss on disposal oftaTwible fiKÈd Èt$ Operating lease charyè$ 3.000 16.472 27.924 27.5LTh) 11 Tru$tse$ Thern wers no payments madg to 4ny Tm51eB eSlh8r as remuneraton. orth9 reimbur89ment oftrwd or other expenses. Trustee5' iEKt¢mnty insurarte 1$ paid bythe Charity. 12 Ernploy¢eg The average monthly number of employees indudes addittonal 'bank' suroort staff throughout the perh?d based on the average head o)unt, durfn9 thè year thè 8v&rag8 was.. 2024 Number 2023 Number 33 EmploymentC08ts 2024 2023 Wages and salart&8 Sodal 88cutlty sts Othernn costs 413.1( 17.816 25,105 406.188 17,867 24.055 456,(Y27 448,108 TheFewere no empl¢)y898vthos8 8nnual remunèratlon was mor• than £60.0(KI. Remunèration ot k#y managoment r80oI Thè r&mun8ralion of key management personnel was ?$ fullows: 2024 2023 Aggregale cnpensation 78.976 7T.132 Key managemenl personnel dudeS Ihe role of Ihe Chi&f Exeojtivo 0ffi¢9r and hgr d¢puty. 17-
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Other oxpendlture Unrè91rf¢tsd UnrestrIcted fitndy lunds 2024 2U23 Nèt105s on dFsposal of tangibl8 frxed assets 169 14 Taxaflon The d)arity is exp1 from taxation on its aclmties beUSe an Its Income Is applied foi ch8rit8bt8 purposes. 15 Tangible fix assots Flthr8sand Motor Ewlpm•nt vohkl•s Total Cost Al 1 Aprfl 2023 Addltton5 Dlsposats 2,978 51160 73.1È10 11.250) 29.480 1,506 110,3221 84.618 74.846 112.647) {1.075) Al 31 March 2 1,903 124X 20.664 148M17 D8pTeclatTon and Impalrment At 1 Aplll 2023 DÈpreeialion charged in Ih8year Eliminated in rest*d of lsposAl$ 1389 46,881 14,641 (1.250) 25,353 1.787 (10.32Z) 74A03 16.472 (12.478) (9061 At 31 Maith 2024 1.547 60.052 16.798 78.397 Carrylng amDUnt Al 31 March 2024 356 63.998 68.220 Al 31 March 2023 589 5A99 4.127 10215 16 Dgbtors 2024 2023 Amounts falllng duèwithin ong ygar. Trade debtors Olher debtors PtepByments and acc•Jed Incom 58,559 1,296 3.405 41.606 63.2fj0 44260 18-
THE PHOENIX PROJECT {IOW) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Creditors: amounts falllng due withln on¢ yT 2024 2023 othortaxalion and soclal Tde dItors Other ¢reditor8 A(xnHls and defeved incorno 3.411 22.IY29 4.614 2.751 15,601 7.804 41.217 15,261 Al the Teporting date, the folbwing amounts were outstandlng In ro8Fed of pension contrfpvtions: Contributi(ffis payable a$ at31 Mar¢h 2024: £3.314 (2023.. £3,401). 19-
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Pett51on Cojitrlbulk)ns NHS P¢nslon Past and present employeos are covered by the provisions of thè Iwo NHS Pension Sdbemes. DelalEs of Ihe beneffits payabte and njles of the Schemes can bo found on the NHS Pensb)ns website at w%sw.nhSbsa.nhs.uklpon5iS. Boih are unfvThJed defined benefit schamèg Ihat cover NHS employers, GP practtces and other bodies. [Owed und8f the direction olthe S8cretary olstale for Heallh and Sodaj Care in EwJl8nd and Wdes. They 8r8 not designed to be run in a way thatwould onablè NHS bodies to identtfy Iheir share oflhe 4mderfying scheme assets and b8bllilfie& Th8fefor8, each schemè is aC¢Outrt for a$ if il were daffined conlrt>utlon scheme: fhé cost trj the NHS body of partrcipatin9 in $thèmè IÈ taken as equal to Ihe contsibulion8 payable lo that scheme forth8 8(xx)unting period. In order Ihat Iha defined benefft obligations FecognlsÉd In thé fin8th781 sl8tsm8nts do rt dtffer malerialty from Ihose thal would b& delemiined at the repoTbng dale by a forn1 acluari31 valuafion. thè FReM requires thal -Ih8 pgriod beiween lo£7 valualions shall ba four yaars. with apwoximats ass8ssmenls In Intering ye8.. An oulline ofthès8 frjllow a)Accounting valuallon A v8JuaUon of sebcrno Ilability is carrled out annually by tha scheme 8ciiiary (cuFr2ntly the Govemment ArAuarfs Departmenl) as at tha end of fhÈ reporbng Pefmjd. This ulTlises an adLtarial assessment for Ihe pravlous 84XXMmting period in ryjnjunclion wllh updat¢d Innb8rshlp and finan081 dats for the current reporting perfod. and Is acc8Pt8d as provtding suitably rtsbust figures for finandal rewfjng purpo89& Th8 Vatualon of Ih& sc*8me li8bility 89 8t 31 M8rckn 2024. Is based on valuatlijn data as 31 M8Tch 2023. updaled 10 31 Marth 2¢r24 wlh summary global m8mbèr and accounting data. In undertaklng Ihls actuarial a38&Ment. the melhcdology w8scrfbed in IAS 19. relevant FReM interpretations. thg diacounl ral8 prescribed by HM Treasury have also been used. The latest assessment of the liablIteS of the schefflB Is contatned In the report of th8 schÈme 8Ctuary, whKh fottns part of th9 annual NHS Pension Stheme Accounts. ThÈsÈ attounts r2n be wewed otb Ihe NHS Pension5 webstte and are wbUsh8d annualfy. cop can alBo bg obtalned Tho Statlonwy Offlce. b) FUTI actuarlal Ifund5ng) valuatlon The purposè of this v8Iuation is to asse88 the level ol Ilabllty In rospact of benefts thje underthe schemes (tthng Into account recent demographic e)por]encè), and to recomrnend contrtbvuon rates paysbi¢ by employees and employèr The latest aduartal valLiallrJn undertakert for IhB NHS Pension Scheme was completed as * 31 March 2016. The results of Ihb waluation set the employer conlrilxthon rale pays4 from Aprfl 2019 to 20.8% of si0bIe pay. Under Iransthional rul8s the PhoÈnk Projecl wntinues to Wdy 1428QA olpensionable pay. Thp actuarial vaatIon as al 31 March 2020 was complotèd and sets Ihe new employer ¢(trIbu10n iat8 dua lo be implemented ffomAprfl 2024 at 23.VA. DuTin9 the accounting peiiod Ihe Pho8nix ProJ8ci mad8 ConbUtiOnS of £20.111 (2023 - £19.1921 to th0 National Heamh Ser schern8 in respect of 8 employee& Employgr contributions wer8 paid at 14.38% durin9 lh8 acoounbng period. Member contributions are between 5.6%- 9.3%. 19 Rgtlrarnent benefft h0]n 2024 2023 Defingd ¢ontrlbutlon ¥¢hpm Charge to profil orloss kn rp¥ped of dgfingd ojntrlbufion schemes 25.105 24.05S Tho Phoenix Project aenrOlled on 1 Aprtl 2018 for Staff not Induded on Ihe above NHS penslon schemè. The conlribulEons made dullng the year for the defined ccr[lIon scheme Lotalled £4.99412023- £4,883).
THE PHOENIX PROJECT (IOW) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restricted fund$ The Testricted funds of the thaiity eomprisa th• un&xpand8d balancès of d¢Jnatlons and grants hald on trust sublect to sp8cifK conditlons by donors as to h(M they may be used. At 1 Aprfl 2023 IneomTng r•sources R•sour¢#s expended Transf8Ys At 31 IA#Tch 2024 Wood'n. things Electric Door ConseNatory Dance Session 74 2.940 I8,CK)O 2,100 (2,9401 (20.9401 (8821 4,940 1,218 74 22,040 {24.7621 4.298 PrwÉous yèar: At 4 Aprfl 2022 Incomlng ROUrCeS resources oxpgndod TranSts At 31 March 2023 IPad & Prolèetor Wood'n. thln9S (1.000) (1.483) 1.567 74 1.557 P.483) 74 The Wood'rf thlngs ftmd reled to a gr8nl received ts> purthas8 machin8ry foi the wu¢xhYorkng WOTksh(y. The iPad & Proie(knrlund t8k9ted to ¥pecbfic donation8 from a coworate doN)rfoi the PUryMJS8 of (X3n1butin towards new SPads and a proieclor. Th8 electrrc door furKI relate(I lo th8 replaCeent Ihe oulomatic opening sy¥t8m on thg fronf door. Thg mon9y was donat8d by WghtAid for this spedfic purpos The danc8 88s&ons fund was spe{?1 to purchase weekty sessIc$ with a dance In8tructorfoTthe group. Th? JerdIry fvnd rejated to a gJantlrom181and Ro4d$ Foundation to replacfj the old conservatory. The InSr from restrtcted fvnds relates to the and of the restri(Alon on funds on( the gssets have been purchased. and are treated as (apital additions. Conver8ety, Ihe transfer to restricted funds repres¢rts the addluonal Irkcurred to Teplace the old consetvalory. The8e ¢osts exceeded the restrided funds receNed and weTe therefore through the chzrity's gen¢tai resetve5. 21
THE PHOENIX PROJECT (IOW) NOTES TO THE HNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 unTIrfCt•d funda The unre8tiicted funds of tha eJ)8rty corr¥Jrise the unexpended balances ol thnabons and grants which are not subject to SP9ofic widitsons by donors and gr8niorÈ as to how they may be used. These designated funds which have sèl gstdè oul of restI[cted funds by th¢ trustees for sp&2fic putpose&. At 1 Apnl 2023 Incomlng source¥ Resources •nded Transf•rs At 31 March 2024 d&velopm8nt Minibus purchas• Conservatory buikling Bull¢fings and malnt8n8ncè reserv8 Gan8r81 funds 10,000 70.000 20.orjo 10.(MXJ 170.1KM)) I20.0> 20.000 219.769 20.iirKI 295.058 615,993 {626.4 85,702 339.769 615,993 {628.4() {4,2981 325.058 Prevlous y•ar. At l Aprll 2022 Incomlng resources R•sDuTces expended Transf•ts At 31 March 2023 ser¢• d•v•Jopment Minibus purchasè ConseNalory buMin9 Bwl¢fings and rrra)tOnancÈ rese& G6n8ral funds 10,0 10.t)JO 70,WO 20.IX)O 70.000 20.000 30.000 272.139 (10.(MJO) 177.517) 20.WO 219.769 627,578 1602.431) 312.139 627,578 602.431 2,483 339.769 The Trustees havo eonsidètèd a number of projeds and designatgd funds to contribule tOW8rds th88e purposes. Thè designations remaln IA Ilne wilh Ihe Trustges Reserves polry. Carrled fowatd from last year. there was £l0.000 towards staifing and ru[Ing costs of deferred proled5 and £20,000 designaled fund for building maInten8T and improvements. The £20.0 foT thg planned ConseMlory and the £70,000 for ihe mbS purchases. were td during lh9 year. 22 Analysls of nat 88¥9ts betsveen funds Unrgstrlctèd fijnds 2024 Re$tsl¢tsd funds 2024 Total 2024 At 31 March 2024: Tangfole a88ets Cuwfjnl a¥3et8I(liIltie$) 68,220 256.838 68.220 258A88 1,e50 325.058 1,650 326.708 -22-
THE PHOENIX PROJECT {IOW) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 22 Analysls of not asséts bgtsveen funds {ConttnuÈd) UnTestsi¢ted lund8 2D23 Restrlct8d funds 2023 Total 2023 At31 Mareh 2023: Tangibl& assets Currant assetsl{liabllMes) 10215 329.554 10.215 329.628 74 339.789 74 339.843 23 Op¢ralng leasè ¢ommltsn•nts At the reportlng end dale the Charity had outstanding commiiments for fuiure mlnimum lease paymants und?r norn¢t11ab1è operating le8sès. whh fall dué as fOlltrs- 2024 2023 Wlhkn one ygar 11.096 24 R•latsd partytransactlons On8 trust88 P023: ong tNsteg) has a lam]ly memb8r who is a saNce user. os0 6S of È30.513 P023.' £30.3271 ar8 paid by the lo(al authority on [308] budgets lo the charity, on the same tsrms as other service users. the yearend £2.469 (2023: £2.4581 was due in respect ofthese lees. 25 C•$h goDarat¢d from op•rnttons 2024 2023 (Dofi¢iW$uTPUS forthe year (13,1351 26.147 AdlvstmÈnts for: Inwstment incoma rocogn1s In sl8tèmÈnt offinandal a1]$ Loss on dISsaI of tanglbla fix•d asgéts DeweLyabon and impaimient oftangibl& fLxed as8e18 ,2391 169 18,472 {605) 7.42 Movernents in wOrfng caplta]: (lThyeaselldecrea88 in d8btors IntXè8gel(decreas8) in crÈditors {19,0(L)} 25,956 10.489 12.212) Cash I•d from oporntlons 8.223 41281 Anatysl$ of changes In n•tfvnds The Ch*ity had no materfal debt dung the year. -23-