Docusign EnvÈlope ID." 065820E4874E4A1A-B024721D07F99E3C REGISTERED COMPANY NUMBER: 082910 IEn8land and Wale51 REGISTERED CHARITY NUMBER: 1148787 PHOENIX CANOE CLUB UMtrED Report ofthe trustees and Unaudited financ5al statemènts for the 7 month period ended 31 December 2021 Page I
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Contents For the 7 month perlod ended 310ecember 2021 Page Reference and administrative details Report of the trustees 4t08 Independent examinerfs report Statement of flnancial activilies io Balance sheet li Statement of cashflows 12 Notes to the llnancial statements 13to21 Page 2
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Llmlted Reference and adminlstratlve details For the 7 month perlod ènded 31 December 2021 Règistered company number 08002910 (registered in England and Wales) Registered ¢harlty number 1148787 Re8istered office Suite IIS, Dev(>nshire House Manor Way 8orehamwood Hertfordshire WD6 IQQ Incorporatlon The charitable company was incorporated on 23 March 2012. Trustèes Andrew Moore Ichairmarnl Dittany Bak Olesen Megan Chidlow ITreasurerl Amanda Gordon Nicholas de Naeyer Timothy J Rice Iresigned 18 March 20221 Julia Touloumbadjian (resigned 13 December 20211 Independènt examiner Capital Tax Accountants Limited Suite 115, Devonshire House Manor Wav Borehamwood Hertfordshire WD6 IQQ Bankers Barclays Bank LeicestershÈre LE87 2BB Page 3
Docusign EnvÈlope ID." 065820E4874E4A1A-B024721D07F99E3C Phoenlx Canoe Club Limited Report of thè trustees For the 7 month period ended 31 Detember 2021 The trustees who are also dirertors of the company for the purposes of the Companies Act 2006. present their report with the financial statements of the charity for the 7 month period ende(131 December 2021. The financial statement5 comply with current statutory requirements, the memorandum and artides of association and the Statement of Recommended Practice Reportin8 Accounting and by Ch3rities-. SORP applicable to charities preparing their accounts in a¢¢ordance with FRS 102. sfRucfuRE. GOVERNANCE AND MANAGEMENT The charity is controlled by its governing document, a deed of trusl. and constitutes o limited company, limited by guarantee, as defined by the Companies Act 2rA)6. The company has no share capital and in the event of liquidation or bein8 wound up the liability of its trustees is limited to £1. The tTUStees meet regularly throughout the year. wTrth the Centre Development Dirertor. The board of trustees are committed to refreshing the Board when appropriate with new trustees who have the skills and networks needed to help the charity achieve its goals. The trustees have overall responsibblity for approval of strategy. policies, plan5. risk management. staff appointments and finance. The day to day management of the charity is delegated to the Centre Development Director and Centre Activities Mana8er. Public Bènefrt Statement The trustees have had due regard to the guidat) i55ued by the Charity Commission on public benefit when reviewing the charitvs aims objectNes and plannin8 the future activities. Sport England research shows that boosting participation in 5POrt can generate a variety of socio-economic benefits. Sport can and does make a profound and positive impact on individuals, communities and wider society. The charity considers that its activsties lead to significant publi¢ benefit in the areas highlighted by Sport England. 08)EIVEs AND AcnviTIES The chariws objects are the promotion of community participation in healthy recreation for the benefit of inhabitants of Greater London and surrounding areas by the provision of faulities for kayakin& canoeing and other outdoor sports. The Phoenix Canoe Club and Phoenix Outdoor Cenlre are located next to the Welsh Harp reservoir on the borders of the Boroughs of Barnet and Brent between West Hendon and Wembley. The outdoor centre runs a range of activitie5 for schools, youth and tommunity groups a8ed from 9 upwards and adults offerin8= Kayaking Canoeing Windsurfing Team building Bell boating Raft building First Aid ir3ining Stand-up paddle boarding Powerboat training Forest khool Orienteering The elub is very active. meeting most Sundays at thè reservoir as well as running a wide selection of ri¥er trip5 and training throughout the year. As well as rnain stream 5thools and group5. we welcome partbcipants with additional needs or challengin8 behaviovrs. We work c105ely with a wide variety of spetialist groups and organisations to hèlp promote education, personal development and integration in a safe, fun and adventurous environment. The eth05 behind all of our activities is the positive development of youn8 people throu8h sport and activities. As well a5 learning new skills and having fun. we aim to help unlock young people'5 full potential, build confidence. self-esteem and dèvelop other beneficial life skills. Page 4
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoè Club Limited Report of the trustees For the 7 month period ended 31 December 2021 Phoenix Outdoor Centre is licensed by the Adventurous Activitie5 Licensing Authority for Kayaking. Open Canoeing, Bell Boating, Improvised Rafting, Sailing and Windsurfing IL93491R19401. Phoenix Outdoor Centre is a recognised RYA Training Centre for Oinghy Sailing. Windsurfing, Power Boatlng and First Aid, RYA Sailability Centre and a British Canoein8 Quality Mark Centre. Phoenix Canoe Club is affiliated to British Canoeing and is accredited with Sport England's -club Mark" ACHIEVEMENT AND PERFORMANCE In the calendar year 2021. the Covid-19 pandemic was Still limiting the extent the Club & Outdoor Centre were able to open. By Easter we were able to open Camp Phoenix for young people aged 9-16, but with limited nurnbers and a range of social di5tancinÉ and hy8iene measures in place. Due to school closures, we were able to add an extra week at Easter. Schools returned on 29 March and School activity booking5 returned followed in lune by the Scout Association relaxing their restrictions. Our norrnal winter Pool Se55ions were cancelled due to government restrictions at the tirne. The Club & Centre recorded circa 9,000 participant attendances per 2-hour session,14,500 in 2020 and 9,378 in 20191. Most Club & Cèntre training and taster courses that ran were full, as people were looking for outdoor attivities provide fitne55 and wellbeing. We increased the Introductory Kayak Level I courses frorn its noTrnal 4 per year to 7 to keep up with demand. Our Centre Activities Manager. Mark Undefwood wa5 awarded a place in the London Marathon by the London Marathon Charitable Trust which he completed in a very Te5PeCtable 3 hour5 23 minutes. Alongside the London Marathon, we ran our own "Fundon Marathon" paddling around the Welsh Harp ftsr Iokm labout 3 laps) and one of the coaches did 50km over a monthl Together, the event raised an amazing £9,000 toward5 the new building fund. In the gummer of 2021. with the financial backing of Youn8 8arnèt Foundation. John Lyon'5 Charity and london 8orou8h of Barnet we were able to offer free activity sessions to groups and individuals thai were in most need. The individuals and groups targeted had either physical, financial, cultural or emotional barriers which might normally prevent them takin8 part in water sport activities. We targeted the groups that met our criteria for free sessions which included young carers, BAME, disadvantaged. physical disabilities, SEND, religious groups, ex-pats, refugees. SPOftS groups. cancer patients. postcode gang harmonising groups, foster children, arts & dance groups and holiday club schemes from low income area5. We then organised taster sessions or a course in kayaking or sup for thesè group5 at the centre fully funded, and where needed organised food and minibus or taxi transport to and from the centre. The Club had to cut back its normal river trips and only managed to run one white water trip to the Tryweryn and Dee in North Wales and minimal flat water river trips. The club had to cancel its re-scheduled white water trip io Slovenia due to travel and foreign restricrion5 in 2021. however, the trip did go ahead in June 2022. Page 5
Docusign EnvÈlope ID." 065820E4-B74E4A1A-B024721D07F99E3C Phoenlx Canoe Club Limited Report ol the truste For the 7 month perl¢Jd ended 31 De¢ember 2021 FUTURE PLANS The club will coniinue its operations and nomial activities during 2022, with courses and activities for schools, youth and community groups, and the8eneral public. River trips and activities in the UK have re<ommenced for canoe club members, as well as the postponed trip to Slovenla took place in June 2022. The charlty has resurrected the new building proie¢i in 2022. with the aim for completion by Easter 2024. The grant from London Marathon Chariiable Trust for £250k in relation to thi5 project is slill in place and we hope to draw this down. However. tottery Funding and Sport England 8fants were withdrawn and subject to a new application. The chaflty wlll focus on raising funds and takin8 artions to progress this project. FINANCIAL REVIEW The charity has opted to move its year end date from 31 May to 310ecembef and presents a¢counts for the shorter 7 month period to the new date. A December year end is more suited to the annual activilies of the club and outdoor centre, where the spring and summer periods are the busiest times. The charitvs Income In the 7 month period was £135.603 (year to 31 May 2021= £190,267). The decrease in income reflects the Shorter accountin8 period. The club was able to return to running courses durin8 majority of the2021 year, despiie the on8oin8 Impact Covid-19 pandemic restricting numbers and activities in some months. In the year to 31 May 2021. the charily received grants from the national government in relation ¢0 ihe furlough scheme. In both ihe year to 31 May 2021 and the period to 310ecember 2021 the charity received grants in the form of rates relief from local Bovernment. Grants income from iwsts and foundations totalled £9.760 in the 7 month peflod (year to 31 May 2021.. £38.050I. Grants Included £3.800 from john Lyon's Charlty for the School Holiday Activlty Scheme and £5,C#)O from Semble Network Ltd (Actlon Funderl for a new bell boat. Expenditure durin8 the 7 month perlod to 31 December 2021 was £114,973 Ivear to 31 May 2021.. £172,865, of which £70,989 was for staff costs (year to 31 May 2021.. £101.6721, and £43,984 on other activity and sUPPOrt costs Iyear to 31 May 2021.. £71,193) The surplus for the period to 310ecember 2021 was £20.630 (year to 31 May 2021.. £17,402). the surplus is higher than normally received for a year as the 7 month period of these account5 includes the busier summer month5 where more of the coufse fee income is received. Net assets held at 31 December 2021 were £129.239 representing unrestrlcted funds of £115,171 and re5trieted fund5 ol £14.068131 May 2021.. £108,609 comprising unrestricted funds of £96,137 and restricted funds of £12.4721. RESERVES POLICY The charity holds the following reserves: Restrlcted reserves comprise funds available for expenditure in accordance with the donorf5 intention5 for the use ol the fundln8, thè reserves helll at 31 Decernber 2021 arè £14,068131 May 2021: £12,472). Page 6
Docusign EnvÈlope ID." 065820E4-B74E4A1A-B024721D07F99E3C Phoenlx Canoe Club Limited Report of the trustees For the 7 month pèrlod ended 31 December 2021 Designated reserves are funds set aside from unre5trirted reserves at the discretion of the trustees. In the case of Phoenix Canoe Club they represenl the net book asset of fixed a55et5, these assets are essential io the operation of the charity and its activities. and should not be considered realisable to meet commitments. Designated funds at 31 December 2021 are £36,424131 May 2021.. £35,691). General resèrves are the balance of the charitie5 unrestrlcted reserves that have not been designated for a particular purpose, a5 such they afe freely available to the trustees for any of the charlS puiposes. General lunds held at 31 Oe¢ember 2021 are £78.747131 May 2021= £60.4461. The increase in 8eneral reseThes by the end of the period reflects the operatin8 surplus incurred in the period, and returns 8eneral re5eryes held to a level similar to pre-pandemlc levels of around £77k. The charity seeks to maintain general reserves equivalent to approximately 34 months of expenditure and this policy suggests reseThes of around £70,000 are needed. The trustees are sat15fied with the levèl of reserves held at the end of the period of £78.747 bein8 slightly hher than the policy fi8ure. given the innationary pfèssures in the UK economy at the current time. RISK POUCY In accordance with best practice, the trustees keep a register of iisks facin8 the chafity. Risks are revlewed regularly, and actions are taken and Controls put in place where appropriate. Through the risk management processes, the irustees are satisfied rhat the major risks identified have been adequately mitigated where possible. It is reco8nised that Systems can only provide some assurance that major risks have been adequately mana8ed and some risks are outside the control of the charity. The principle risk areas. and the maln mitl8ations are listed below. Flnanclal and Incom•.' Controls are in place over access to bank accounts and through use of dual signatory conirols, long with regular monitoring of finan¢ial results and the produttion ol forecasts. The charity reviews incorne 8eneratlon sources and costs new activities, grants are applied for where additional income is needed to fund capital replacements or specific activitio. Safeiuardlni.. The Club and Centre work with youn8people and have policies and guidance to ensure that there are proper safeguards in place to ensure that participants and staff operate in a safe environment for sport and recreation. Phoenix Canoe Club Limited is lully committed to safeguardbn8 the well-being of its aub members and Centre user5. All members nd users should show respect and understandin8 lor thè rights, safety and welfare of others. and ¢onduct themselves in a way ihat refle¢rs the principles of the Club & Centre. We belie that taking part In water sport should be p051tive and enjoyable parts of children's of vulnerable adults, INes. Health & Safety. It 15 the policy of Phoeni¥ Canoe Club rnited to Sure, 50 far as is ieasonably pfacticable, the health & safety of its volunteers. employees and members. The Trustees, ¥olunteer staff and employee5 are to comply, as far a5 IS reasonably practicable. with the requirements of the Health and Safety at Work etc. Act 1974. and with all its statutory provisions. All members are required to assist in achieving this aim. Overall and primary responsibility for maintaining a safe and healthy working environment within the Phoenix Canoe Club Limited rests with the Trustees. The or4us of overall and primary responsibility does not absolve indlviduals from their specific PonSIbl11t1e5. Facilities: The charity review5 insurance regularfy to ensure adequate cover is in place. A forward maintenance plan ensures facilities and equipment are renewed as needed. Additionally the club has a back up arrangement with another centre in case of need. Pa8e 7
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club knmited Report of the irustees For thè 7 month period ended 31 December 2021 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS Company law requires the tru5tee5 Iwho ale also direclor5 of Phoenlx Canoe Club Llmiied for the purpose5 Of Company lawl to prepare financial statement5 that give a true and fair view of the state of affairs of the charity at the end of the financial period and of its financial posltlon at the end of that period. In preparing those financial statements the trustees are required to.. select suitable a¢¢ounting policies 8nd apply them consistentlv,. make judgements and estimates that are reasonable and prudent,. observe the methods and princlples in the Charities SORP; state whether applicable UK accounting siandards and statement ol recommended practice have been followed. subject to any material depariures disclosed and explained in the financial statements., and prepare the financlal statements on a going Concern basi5 unless it is inapproprlate to presume that the charitable company will continue in operation. The trustees afe responsible for preparing a trustees, annual report and flnancial statements in accordance with appllcable law and United Kingdom Accountln8 Standards IUnSted Kln8dom Generally Accepted Accouniing Practice). The trustees afe responsible for maintalnlng proper accontIng records which disclose with reasonable accuracy at anv tlme the financial posltlon ol the tharlty and enable them to ensure that the financial staternent5 comply wlth the Companles Act 2006 and the Charitles Act 2011. The trustees are also responslble for safe8uardlng the assets of the charlly and hence lor takln8 reasonable steps for the prevention and detectlon of fraud and other irre8ul8rities. In so far as the trustees are aware.. there 15 no relevant information of whlch the ¢harltable Company's independent examlner Is unaware., and the trustees have taken all steps that they ou8ht to have taken to make themselves aware of any relevant Information and to establish that the independent examlner 55 aware of that Information. Approved by order of the board of trustees on 29 September 2022 and slgned on Its behalf bv.. DoGu8*Md by.. Onw CLukni Megan Chidlow Page 8
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Independent examinerfs report io the trustees of Phoenlx Canoe Club Umited I report on the accounts for the period ended 31 De¢ember 2021 set out on pages 4 to 8. Respectl¥e responsibilitles of tru$tees and examlner The charity's trustees (who are also the directors for the purposes of company lawl are responsible for the preparation of the account5. The charity's trustees consider that an audlt is not required lor this period (under Section 144121 of the Charities Act 2011 (the 2011 actll and that an independent examination is required. Having satisfied myself that the charity is noi subject to an audit under company law and 15 eligible for an independent examination, il is my responsibility to.. Examine the accounts under Section 145 of the 2011 Act to follow the procedures laid down in the General Direciions given by the Charity Commlssion lunder Section 14515llbl of the 2011 Act).. and to state whether particular matters have come to my attention. Basls of th• Independent eMam5nerf5 report My examination was carried out in accordance with the General Directlons glven by the Charlty Cornmisslon. An examination includes a review of the accountlng records kept by the charlty and a compJrison of the accounts presented with those records. It also includes consideratlon of any unusual Items of disclosures in the accounts, and seeking explanations from you a5 trusiees concernin8 any such matters. The Pfocedures undertaking do not provide all the evidence that would be requlred Sn an audlt. and consequently no opinion is given as to whether the a¢counls present a 'true and falr vlew, and the report Is limited to those matters set out in the statements below. Independent eMamlnee5 Statemant In connection wlth my examlnatlon, no matter has come to my attention.. whlch gives me reasonable cause to believe that, In any materlal respect, the requirements.. to keep a¢countin8 records in accordance with Section 386 and 387 of the Companies Act 26., and to prepare accounts which accord wlth the accounting records, comply wlth the a¢¢ountln8 records of Section 394 and 395 of the C¢mpanles Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Rep¢rting by Charities. have not been met,. or to which, in my opinion, attention should be drawn in order to enable a proper understandin8 of the accounts to be reached. Kumail Walji (Director) Capital Tax Accountants Llmited Suite 115, Devonshire House Manor Way Borehamwood Hertfordshire WD6 IQQ Date.. 29 Septernber 2022 Page 9
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenlx Canoe Club Llmlted Statement of financial artivitles for the 7 month period ended 31 December 2021 Ilncorporatln8 Income and expendlture account) UnreMritt•d RgstrittÈd Total Tot*1 7 Months to al Decembtr 2011 Yearto 31 May 2021 Notes Funds FurK15 In¢¢me from: Donatlon5 ènd Brants Charitable acrivitie5 314 112,336 3,129 19,8Z4 20.138 IIZ.336 3,129 84,377 102,787 3.101 Investment income Tot•1 Incom• 115779 190 267 Eyndltur• on: Ce5ts of raisln8 fund5 188 101,557 458 172,407 13,228 114,785 Tot•1 •xpendltur• 101745 114 973 172 865 N•t Inrom•ll•xpendllur•l 14,034 6,596 20,630 17,402 Transfers Inlloutl between funds s,wo (s,01> Net ffl4)v•m•ni In funds 19,034 1,$96 20,630 17,402 R¢¢onclll•tbon olfunds.. Total funds bwu8ht forward 96.137 12,472 108,609 91.207 Totsl funds tarried foww•rd 115 171 129 239 There are no reco8nised 8èins and losses otherth•n those in the ststement of flnanclal activities. Therefor¢ no statement of rotal reco8n15ed 8ains and losses has been prepared. All the above arnounts relate to cont5nuin8 activities. Phoenix Canee Club Limlted has rnoved1ts year end date from 31 May to 31 December, in order to bring It rnore Into line with our annual actiwty schedule. The fi8ure5 for the current period coverthe 7 months from l June 20ZI to the new yeor end date of 31 December 2021. Cornparative fi8urts are foT the prior year to 31 May 2021. The note5 on pages 13 to 22 forrn part of these accounts Page 10
Docusign EnvÈlope ID." 065820E4874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Balance Sheet As at 31 December 2021 Company no: 08002910 31 Dember 202L 31 May 2021 Notes Fixed Assèts Tan8ible Assets io 36A24 35,691 Current Awts Debtors Cash at bank and in hand li 8.929 102,386 111.315 30.464 100,861 131.325 Credltors: amounts fallln8 due within one year 12 18.500 58,407 Net current assets 92,815 72,918 Net assets 129,239 108,609 Funds Unrestrirted funds Designated funds General funds 14 36.424 78,747 115,171 35.691 60.446 96,137 Restritted funds 13 14.068 12.472 Total funds 15 The charitable company is entitled to exemption from audtt under Section 477 of the Cgmpanies Act 2006 for the period ended 31 December 2021. The company has moved its year end date from 31 May to 31 Oecember. The member5 have not required the charitable company to obtain an audit of its financial statements for the 7 month period ended 31 December 2021 in accordan with Section 476 of the Companies Act 2006. The directors acknowledge their Tesponsibilties for complying with the requirements of the Companies Act 2L6 with respect to accounting records and preparation of accounts. The accounts have been prepared in accordance with the provisions in Part IS of the Companies Act 2[ applicable to companies subject to the small companies regime. The account5 were approved by the board of trustees on 29 September 2022 and signed on their behalf by= Do¢uSbJn•d by. Trea5urerl The notes on pages 13 to 22 form part of these accounts Page 11
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Caroe Club Limited Cash Flow Statement For the 7 month perlod ended 31 December 2021 7 Monthsto 31 D•cemb•r 2021 Yearto 31 Mèy 2021 Co5h fiows from operatln8 attl¥Stles'. Net lexpendlturellincome lor the financial Veèr 20,630 17.402 Adjustments lor: Depreciation of tèn8lble assets Investment intome Ilncre35elde¢rease in debtor5 Increase In creditor5 15,581 23,065 21,53S 139,9071 119,8191 47,123 Net cash i•n•rnied from operatln8 aCtlvltl•s 17,839 67,769 C15h flows lrnm Inv•stlTh8 adlvltl•5: In¢orne from Invesrment5 Purthase of plant and machln¢ry 116,3141 113,7801 N•tush from Irwestlni •¢tl¥ttl•i 116,314 113,7781 Chin8• In ush and tash equl¥il•fits In th• yur 1.525 53,991 Ca$h ind cash equivalents at the be8lnnln8of the year 100,861 46,870 Csh •qulval•nli •t th• •nd of th• y•ir 102 386 Cash Jnd ush •qul¥alents Jt th• •nd of the yearcomprls•'. sh at b•nk Ind In hand Page 12
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenlx Canoe Club Llmlted Notes to the Financial Statemer For the 7 month perSod end•d 31 Decèmber 2021 l. Accounting policies al Bas1$ of preparatlon The financial 5taternents have been prepared in accordance with Accountin8 and Reporting by Charities.. statement of Recommended Prartice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffettive l January 20151- (Charities SORP IFRS 10211. the Financial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 21X)6. The finantlal statements have been prepared under the historlcal cost conventlon wlth iterns recognised at cost or transactlon value unless otherwise stated in the relevant accounting polities below or the notes to these financlal ststement5. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilitie5 recognised at hlstorical c05t or transattion value unless otherwise stated in the relevant accountin8 poliry notes. The functional and presentational currenry is pounds sterling and roundln8 Is to the nearest pound. bl Infome Income Is recogn15ed In thé period in whlch the charltyls entltled to rece5pt and the amournt tan be measured wlth reasonable certainty and It Is probable that the income will be recelved. Income is deferred only when the charltv has to fulfil certain condltlons before becomin8 entitled to it or wherè the donor or funder has specified that ihe income Is to be expended In a future accountln8 period. Investment Income 5$ Included In the actounts when receivable. Grants and donations are recognised onte entitlement and value have been conflrmed in writing. cl Expendlture Expenditure 15 recognisèd once here Is a legal or constructlve obllgatlon to make a payment tg a third party, It is probably ihat settlement will be required and the amount of the obligation can be rnea5ured reliably. Expendlture Includes irrècoverable VAT and comprises dlrect costs and support costs. All expenditure Is allocated to the activity headings below. where the cosr relates dlrectly to that artivlty. Support costs are allocated using an apportionment In proportion to staff time workin8 in each area. Expenditure on raising funds includes all empenditure a55QClatèd with ralsing funds for the charity. Expendlture on charitable actlvlties includes all costs aS50ciated wlth dellverlng all att¢vRSes of the charSty in the provislon of its tharitable artivities. dlT•xatlon No liability to UK corporation tax arose on ordinary activities for the perlod ended 31 Decernber 2021 as the cofflpany has tax-exempt charity status. Page 13
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phtstnix Canoe Club Limited Notes to the Flnanclal Statements For the 7 month perlod ended 31 December 2021 l. Attountlng poll¢les l¢ontlnuedl elTan8lble flxed assets Depreciation is provided at thè following annual rates in order to write off each asset over its estimated useful life.. Plant and equipment- ovèr 7 year5 tsn cost straight line basis Motor vehicles over 4 years on cost straight1Sne basis n Debtors Trade and other debtors are reco8nised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tsx recoverable is included at the best estimate of the amount receivable at the balance Sheet date. 81 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity ol three months or less from the date of acquisition or opening of the deposit or similar account. h) Credltgrs Creditors and provisions are recogni5ed where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliabty. 11 Fund accountlng General funds are unrestrirted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and whlch have not been designated for specific purposes. Restricted fund5 are funds which are to be used in accordance with specific restrictions imposed by the donors. The aim and use of each restritted fund is set out in the note5 to the accounts. jl Pensions The charity operates a defined contribution pension scheme for employees. These assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the Statement of Financial Activities. Pa8e 14
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Financlal Statements {continuedl For the 7 month period ended 31 December 2021 2. Income from donations and grants 7 Months to 31 December 2021 Current year Unrestrlcted Fund5 Restricted Fund$ Total Funds Donations Grants- trusts and foundations 314 10,064 9.760 10,064 9,760 314 19,824 19.824 Yearto 31 May 2021 Total Funds Prior year Unrestrirted Funds R*rtrlrted Funds T)onations Grants- trusts and foundations Grants- national and local governmeTht Telaled to Covid-19 1,210 1,210 38,050 45,117 38,050 45,117 38,050 84,377 3. Inome from charitable a¢tlvlties 7 Monihs io 31 December 2021 Current year Unre5tritttd Funds RerICted Funds Total Fund5 Fee income: courses for schools. groups and individuals 112.33S 112,336 112 336 IIZ,336 Pa8e 15
Docusign EnvÈlope ID." 065820E4874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Financial Statements Icontinuedl For the 7 month period ended 310ecember 2021 3. Inome from thaFit•ble artltIeS Icomlnuedl Year to 31 May 2021 Total Funds Prlor year Unrestrkted Fund5 Restrfrted Funds Fee incorne: courses for schools. groups and indldal$ 102.787 102.787 102.787 102,787 4. Income frorn othertradln8 a¢tlvttles 7 Months to 31 De¢ember Z021 Current ytar Unrestri¢ted Funds Restricted Tot41 Funds Funds Membership income Income from fundralsing events and auivitiÈs 3,097 32 3,(r37 32 3,129 3,129 Yearto 31 May 2021 Total Funds Prlor year Unrtrtri¢ted Fd$ Fund5 Membership income Income from fundraisinR events and acti¥ities 2.978 123 2,978 123 3.101 3,101 Page 16
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Financlal Statements Icontinuedl For the 7 month period ended 31 December 2021 S. Expendlture by actlvity type 7 Month5 to 310ecember 2021 Current year Staff costs Non Staff Support Costs Totsl Funds Costs Costs Unrestrlaed funds.. Charitable activitie5 Activities for raising funds 58.923 23,915 188 18,719 lQl.S57 188 Totsl unre$tficted fvnds 58.9Z3 24,103 18,719 101,745 Re5trirted funds: Charitable activities 12,066 1,162 13.228 Total restrlcted funds 12,066 1,162 13,228 25.265 18,719 114 973 Year to 31 May 2021 Total Prior year stsff ¢o$t$ Costs Non Staff C05t5 Support Costs Funds Unrestricted lunds: Charitable attivities Activities for raising funds 89,911 32.668 458 29,987 152,566 458 Totsl unrtrtrlrted funds 89.911 33.126 29,987 153,024 Rèstrirted fund5'. Charirable activitie5 11,761 8.080 19,841 Total r•strl¢ted funds 11,761 19,841 101.672 41.206 29,987 172.865 Page 17
Docusign EnvÈlope ID." 065820E4874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Financial Statements {continued) For the 7 month period ended 31 December 2021 6. Support costs 7 mont to 31 December 2021 Yearto 31 May 2021 Total Funds Total Funds Property and related costs Office expenses Professional fees. accountancy and 5ub5criPtiLs IT costs Marketing costs Governance costs 10.357 2,652 2.560 772 16,262 5,370 4.219 2,603 130 162 2216 1.403 18.719 29,987 7. Staff costs 7 Months to 31 De(embeT 2021 Year to 31 May 2021 Wages anil salarie5 Employers, National Insurance Érnployers pension contributions 67.634 2,584 771 98,362 2,602 70,989 101.672 Average number of employees during the period/year Average number of full time equivalent employees during the period/YÈar 11.0 Pagè 18
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Financial Statements l¢ontlnuedl For the 7 month period ended 31 December 2021 Trusttt txpenses No trustees received any remuner3tion or expenses from rhe Charity in relation to the performance of their duties as trustees. No trustee expenses were pald io rrustees during the period to 31 December 2021 or the year to 31 May 2021. 9. Net Income Is stated aftér ¢harKI 7 Months to 31 December 2021 Yearto 31 May 2021 DepreciatSon of owned fSxed assets Independent Examlner's remuneration 15.581 1,200 23,065 1,200 10. Twnglble Ilxed assets 31 Oectmber 2021 31 May 2021 Pl•nt Ind equlpment Motor vehlcles Total Total Cost Brought forward Addltlons 113,653 14,354 13,926 1,960 127,579 16,314 113,799 13,780 Carried forward 128,007 15,886 143,893 127.579 Depretlatlon Brought forward Charge for the year 77,962 15.091 13,926 490 91,888 15,581 68,823 23,065 Carried forward 93,053 14,416 107,469 91,888 Net book value As at JI Dtctmber 2021 As at 31 May 2021 34,954 35,691 1.470 36,424 35,691 35,691 44.976 Page 19
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Flnancial Statements Icontinuedl For the 7 month period ended 31 December 2021 11. Debtors 31 tember 2021 31 May 2021 Tradè debtors Other debtors Prepayrnents Atcrued income 6.264 133 2.532 14,078 4,286 12.100 8.919 30.464 12. Cr•dltors 31 O•¢emb¢r 2021 31 May 2021 Trade credltors Other taxatlon and socl31 securlty Other ¢reditors Accrua15 Deferred income 156 1,805 8,191 6,845 41.410 222 14,010 4,268 18,500 58,407 Page 20
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenlx Canoe Club Limited Notes to the Financial Statements {continuedl Forthe 7 month period ended 31 December 2021 13: Restrlrted funds Balance at l June Balan at 31 December 2021 Z021 Income Expenditure Tronsfeys Current ptrlod New Building fund P05tcode Lottery John Lyon's Charity SHAF Semble Network Ltd Brent Council London Marathon Trust 4,004 1,125 10.064 14.068 11,1251 13,8001 3,8C#J s,o(xJ 960 IS.0) 19601 17,3431 7,343 12A72 19,824 113,2281 I5,0)} 14.068 13.. Restricted funds Balance at l June Balance at 31 May 2021 Prior year 2020 Incom• Èxpenditure Transfers New Building fund Postcode Lottery john Lyon's Charity- eouipment John Lyon's Charity- SHAF London Marathon Trust Youn8 Barnet Foundation 4.(K)2 4,039 4,004 1,125 12.9141 16,2201 12,JOOI 14,7571 13,8501 20,0(X) 2,100 12,100 3,850 113.7801 7,343 8,041 38,052 119,8411 113,7801 12,472 Transfers of fund5 represents the purchase of fixed assets using restricted grants, where the assets purchased with grant funds are intended for the general purposes of the charity. Purpose of restrlcted funds New Building fund John Lyon'5 Charity- SHAF John Lyon's Charity- equipment London Marathon Trust Funds raised towards the lonB-term project of a new centre buildine for the charity. School Holiday Activity Fund ISHAFI. New equiprnent as part of Covid-19 pandemic response funding. Grant to 5UPPOrt disadvantaged communities to participate in activities. by enablin8 the delivery of targeted outreach. Funds for the purchase of two new sailing craft and other supplies. To offer activities under'August Activity Fund.. Funds for the purchase of new sailing craft. Funds for setting up a Forest School. Wembley National Stadlum Trust Young Barnet Foundation Edward Harvist Trust P05tcode Lottery Page 21
Docusign En¥ÈlopÈ ID." 065820E4-874E4A1A-B024721D07F99E3C Phoenix Canoe Club Limited Notes to the Financial Statements Icontinuedl For the 7 month perlod ended 31 December 2021 14: De51gnated fund5 Balante at 31 De¢emb•r 2021 Balance at 31 Mav 2021 Capltal fund representSnB net book value of fixed asseis 36,424 46,997 36.424 46,997 IS: An4ly51s of net asmts bètw••n funds JI D*cember 31 December 31 December 31 Oecember 2021 2011 2021 2021 Current year Rertrlcted Llnreslrlcted Unrèitrlrted Desl6n3t•d G•n•ral Funds Fund5 Total Funds Funds Tanglble flxed a55et5 Current asset5 Creditors due within one year 36,424 36,424 111,315 118,5001 14,068 97.247 118.500 14,068 36,424 78,747 129,239 Prfor yejr 31 May 2021 31 May 2021 31 May 2021 31 May 2021 Reslrlcted Unrestrlcted Unrestrlrted Totsl Deslgnattd G•noral Funds Fundi Funds Funds Tangiblt fixed assets Current asset5 Creditors due within one year 3S.691 35,691 131,325 158,4071 12,472 118,853 158,4071 12,472 35,691 60A46 108,609 16. Penslon ¢ommltment5 The charity operates a separate defined eontributions pension 5cherne. The assets of the scheme are held separately from those of the charity in an independently administered fvnd. The penslon cost5 charge represents contrlbution5 payable by the charlty io the funds and arnounted to £771 in the 7 month period to 31 December 2021 (year to 31 May 2021.. £7081. Contributions iotalling £222131 May 2021.. £2771 were payable to the fund at the balance Sheet date of 31 December 2021 and are Sncluded In creditors. Page 22