Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
REGISTERED COMPANY NUMBER- 08002910 (England and Wales)
REGISTERED CHARITY NUMBER.. 1148787
PHOENIX CANOE CLUB LIMITED
Report of the trustees and
Vnaudited financial statements for theyear ended 31 De¢ember 2023
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Contents
For the year ended 31 December 2023
Page
Reference and administrative details
Report of the trustees
4tolO
Independent examiner's report
li
Statement of financial activities
12
Balance sheet
13
Statement of cashflows
14
Notes to the financial statements
15to25
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Reference and administrative detai15
For the year period ènded 31 Decembèr 2023
Registered company number
08002910 Iregistered in England and Wales)
Re8lStered charity number
1148787
Registered offite
Suite 115, Devonshire House
Manor Wav
Borehamwood
Hertford5hire W06 IQQ
Incorporation
The charitable company was incorporated on 23 March 2012.
Trustees
Andrew Moore (Chairmanl
Dittany Bak Olesen
Megan Chidlow ITreasurerl
Frances Edwards
Amanda Gordon
Nicholas de Naeyer (resigned 11 January 20231
Independent examiner
Capital Tax Accountants Limited
Suite 115, Oevonshire House
Manor Wav
Borehamwood
Hertfordshire WD6 IQQ
Bankers
Barclays Bank
Leicestershire
LE87 2BB
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023
The trustees who are a150 directors of the company for the purpose5 of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31 December 2023. The financial
statement5 comply with current statutory requirements, the memorandum and article5 of association 3nd
the Statement of Recommended Practice Reporting Accounting and by Charities.. SORP applicable to
charities preparing their accounts in accordance with FRS 102.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The tharity 15 controlled by it5 governing document, 3 deed of trLJSt, and tonstitLJtes a limited company,
limited by guarantee. as defined by the Companies Act 2006. The company has no share capital and in the
event of liquidation or being wound up the liability of its trustees is limited to £1.
The trustees meet regularly throughout the year, with the Centre Development Dirertor. The board of
trustees are committed to refreshing the Boèrd when appropriate with new tru5tee5 who have the skills and
networks needed to help the charity achieve its goals. The trustees have overall responsibility for approval of
strategy, polities, plans. risk management, Stèff appointments and finance. The day to day management of
the charity is delegated to the Centre Development Director and Centre Activities Manager.
Public Benefit Statement
The trustees have had due regard to the guidance issued by the Charity Commission on public benefit when
reviewing the charity's aims objectives and planning the future activitie5.
Sport England research shows that boosting participation in sport 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 activities lead to significant public benefit in the areas highlighted bv
Sptsrt England.
OBJEcfivES AND ACTIVITIES
The charitvs 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 facilities for kayaking, canoeing and
other outdoor sports.
The Phoenix Canoe Club and Phoenix Outdoor Centre are located next to the Welsh Harp reseNoir on the
borders of the Boroughs of Barnet and Brent between West Hendon and Wembley. The outdoor centre runs a
range of activities for schools, youth and community groups aged from 9 upwards and adults offering..
Kayaking
Canoeing
Windsurfing
Team building
Bell boating
Stand-up paddle boarding
Raft building
Powerboat training
First Aid training Forest School
Orienteering
The club 15 very active, meeting most Sundays at the resetvoir a5 well as running a wide selection of river trips
and training throughout the year.
As well a5 main stream 5choo15 and group5, we welcome participants with additional needs or challenging
behaviours. We work closely with a wide variety of specialist groups and organisations to help promote
education, personal development and integration in a safe, fun and adventurous environment.
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023 Itontinuedl
The ethos behind all of our attivities is the positive development of young people through sport and activities.
A5 well as learning new skills and having fun, we aim to help unlock young people's full potential, build
confidence. self-esteem and develop other beneficial life skills.
Phoenix Outdoor Centre is licensed by the Adventurous Activities Licensing Authority for Kayaking, Open
Canoein& Bell Boating, Improvised Rafting, Sailing and Windsurfing IL72641/R19401. Phoenix Outdoor Centre
is a recognised RYA Training Centre for Dinghy Sailing, Windsurfing, Power Boating and First Aid, RYA
Sailability Centre and a British Canoeing Delivery Partner. Phoenix Canoe Club is affiliated to British Canoeing
and is accredited with Sport England's'club Mark"
ACHIEVEMENT AND PERFORMANCE
In the calendar year 2023, our activities were fully back to normal levels at the charity, before the impart of the
Covid-19 pandemic in 2020 and subsequent years.
The Club & Centre participant attendances per 2-hour session are still being counted for 2023, however, the
final figures are experted to be on par with the previou5 year, at around 9,772. Most Club & Centre training and
taster courses that ran were full, as people were looking for OLrtdoor activities to provide fitness and wellbeing.
The winter pool se5sion5 at Hatch End were well attended but session5 were cancelled a5 the pool liner had to
be repaired following the damage from the previous year's roof collapse.
In the summer of 2023, with the financial backing of john Lyon's Charity, RYA and the London Borough's of
Barnet and Brent, we were able to offer free artivitv sessions to groups and individua15 that were in m05t need.
The individuals and groups targeted had either physical, financial. cultural or emotional barriers which might
normally prevent them taking part in water 5POrt 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, sports 8roup5, cancer patients, P05tcode gang harmonising groups, foster children, art5 &
dance groups and holiday club schemes from low income areas. We then organised taster sessions or a course
in kayaking, canoeing, Bell boating or SUP for these grc)ups at the centre fully funded, and where needed
organised food and minibus or taxi transport to and from the centre. The RYA'S funded project was to provide
Sailing training to disadvantaged young people and we had groups from Saracen'5 High School, Preston Manor
High School and Divine Purpose, a community charity from the Queens Park area.
In July 2023 Canal and River Trust ICRTI announced they would be draining the water from the Brent reservoir
in the autumn of 2023, with the initial project timings being advised as starting from early October and finishing
by the end of December. This dewatering meant the club was not able to run most of its courses in the autumn
period, this imparted income with a redurtion of about £IOk in the 2023 year, compared to previous year5.
The Club ran two white water trips to the Tryweryn and Dee in North Wales plus the River Usk & Upper Wye in
South Wales. The Club 3150 Vlslted Briancon in the French Alp5 for a week long white water trip paddling 5
different rivers in the area.
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023 Itontinuedl
In March 2023 we applied to London Borough of Barnet to renew our lease which had lapsed during the Covid
pandemic. We worked with their Estates Surveyorto agree new Heads of Terms and the granting of two parcels
of additional land to enable the redevelopment plans to work. The discussions moved into 2024 and a public
consultation was advertised in the local paper, with the results being expected at the end of September 2024.
The Club continued to work on its new building project in 2023. with the intention being to replace the existing
structure with a more fit for purpose unit as Phase l of a wider redevelopment. Thi5 project had been impacted
by the Ctsvid-19 pandemic, as the ability to both raise funds for this project and to progress on the activity was
curtailed. In 2023 we were able to appoint a Design Team and get Planning Permission for Phase l approved.
The design was kept minimal and ￿tainS the current cess pit. perimeter fencing and no works to landscaping.
The club also took the opportunity of the CRT dewatering projett to commence a project to carry out repairs to
our existing slipway and widen it to provide dirert access into our floating harbour. Plans were drawn up to
widen the slipway and were submitted for Planning Permission on 24th August 2023 and approval was granted
on 29th January 2024 with the building activity tsking place in early 2024. The works were subject to a number
of restrictions to preseNe the biodiversity of the Site of Special Scientific Interest and structural integrity of the
reseNoir.
FUTURE PLANS
The Club will continue to work on the new bLJilding project. Uriforturiately London Marathon Charitable Trust
withdrew their grant of £25Ok in late 2023, asthe Planning Permission approval had been delayed bythe council
past the allowable deadline date for the fund. Works were put on hold and an application to London Borough
of Barnet was made for NCIL funding for the following year. We hope that London Marathon Charitable Trust
will consider some m3tch funding to the project, once the permissions are granted and other funds had been
confirmed.
During 2024 CRT advised the dewatering project which started in 2023 would take longer than anticipated. The
delay of the retLJrn of the water was initially to Marth 2024, however in early March it was announced water
would not be returned until late May or lune. This delay severely impacted attivities which could be run, and
corisequently income in 2024. We estimate that another £40k of norm31 income levels was lost in 2024 and
while some of our costs were also lower as a result, the net impact will reduce free reserves significantly. The
full impact is not yet able to be quantified, but we estimate free reserves may be reduced by £30k from the
£50k held at end 2023. This level will still leave the charity able to function and operate on a going concern
basis, but it will take several year5 to return free reserves to the preferred level which allows more protettion
from unforeseen events and other risks.
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023
FINANCIAL REVIEW
The charity's income in the year for 2023 was £176,30512022.. £185,065). The decrease in income reflects the
impact of reservoir repair project commenced by Canal and River Trust in late 2023, which meant many
activitie5 could not be run in the autumn period.
Grants income from trusts and foundations totalled £10,984 in year12023'. £12,416). Grants included £4,320
from the Royal Yachting Associatitsn and Sport England 'Together Fund fund. Grants were also received to
provide inclusive water sports, as well as £4,100 from john Lyon's Charity as part of School Holiday Activitv
Fund ISHAFI.
Expenditure during the year to 31 December 2023 was £201,62312022.' £182,239, of which £134,203 was for
staff costs131 December 2022.. £119,835), and £67,420 on other activity and support costs12022'. £62,404)
The deficit for the year to 310ecember 2023 was £25,31812022'. surplus of £2,826). The deficit was caused bv
three fartors. Firstly income was approximately £IOk lower than expected due to the CRT dewatering project.
which meant the income from courses and attivities run in the autumn was severely reduced. Secondly some
of the expenditure in 2023, made to further progress the new building project, Wa5 made from existing
reserves, Wlth a net impact in the year of £9k of reserve funds restricted to the new building project being
Used. Finally the ongoing high inflation leve15 increased costs in the charity across many area5 of expenditure.
Prices charged to participants were largely held at similar levels in 2023, however increases to prices can no
longer be avoided in 2024.
Net a55ets held at 31 December 2023 were £106,747 representing unrestricted funds of £97,229 and
restricted funds of £9,51812022'. £132,065 comprising unrestricted funds of £115,524 and restricted funds of
£16,541).
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023
RESERVES POUCY
The charity holds the following reserves..
Restrlcted reserves comprise funds available for expenditure in accordance with the donor's intentions for
the use of the funding, the reserves held at 31 December 2023 are £9,51912022.. £16,541).
Designated reserves are fund5 set aside from unrestricted reserves at the discretion of the trustees. In the
case of Phoenix Canoe Club they represent..
the net book asset of fixed assets, these assets are essential to the operation of the charity and its
activities. and should not be considered realisable to meet commitments. Designated funds at 31
December 2023 are £26,849131 December 2022.. f 23,7401.
£20,000 of funds designated for future use towards costs of replacing the club's building.
General reserves are the balance of the charities unrestricted reserves that have not been designated for a
particular purpose, as such they are freely available to the trustees for any of the charity's purposes. General
funds held at 31 December 2023 are £50.380131 December 2022.. £71,784).
The charity seeks to maintain general reserves equivalent to approximately 3-4 months of expenditure and
this policy suggests reserves of around £60,000- £70,000 are needed. The trustees are aware that the level of
reserve5 held at the end of the year of £50,380 are below the amount suggested by the re5erve5 policy. The
shorrfall was caused by the unexpected impact on income of the Canal and River Trust reservoir repair
projert. Reserves will be impacted in 2024 by the same projett. The trustees feel that the charity is still a
going concern and will continue to be able to operate in the foreseeable future, but note that reduced reserve
levels will mean income and expenditLJre will need careful monitoring in 2024. Actions such as increasing
prices to participants and reviewing all expenditure will be undertsken.
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023
RISK POUCY
In accordance with best practice, the trustees keep a register of risks facing the charity. Risks are reviewed
regularly, and attions are taken and controls put in place where appropriate. Through the risk management
processes, the trustees are satisfied that the major risks identified have been adequately mitigated where
possible. It is recognised that systems can only provide some assurance that major risks have been adequately
managed and some risks are outside the control of the charity.
The principle risk area5, 3nd the main mitigations are listed below.
Financial and income.. Controls are in place over access to bank accounts and through use of dual signatory
coritrols, along with regular monitoring of financial result5 and the production of forecasts. The charity
reviews income generation sources and costs new activities. grants are applied for where additional income is
needed to fund capital replacefflent5 or speeific attivities.
Safeguardlng.. The Club and Centre work with young people 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 fully committed to safeguarding the well-being of its Club members
and Centre users. All members and users should show re5pert and understanding for the rights, safety and
welfare of others, and condurt themselves in a way that reflects the principles of the Club & Centre. We believe
that taking part in water sport shoLJld be positive and enjoyable parts of children's or vulnerable adults. lives.
Health & Safety: It is the policy of Phoenix Canoe Club Limited to ensure, so far as is reasonably practicable, the
health & safety of its volunteers, employees and members. The Trustees, volLJnteer staff and employees are t(>
comply, as far as is reasonably pratticable, with the requirements of the Health and Safety at Work etc. Act
1974, and with all its Statutory provi5i0ns. All members are required to a551St 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 onus of overall and primary responsibility does not absolve individuals
from their specific responsibilities.
Facilities: The charity reviews insurance regularly to ensure adequate cover is in place. A forward maintenance
plan ensures facilities and eqLJipment are renewed as needed. Additionally the club has a back LJP arrangement
with another centre in case of need.
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Report of the trustees
For the year ended 31 December 2023
TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIALSTATEMENTS
Company law requires the trustees (who are also directors of Phoenix Canoe Club Limited for the purposes of
company lawl to prepare financial statements 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 positic)n at the end of that period. In preparing
those financial statements the trustees are required to..
select suitable accounting policies and apply them consistently,.
make judgement5 and estimates that are reasonable and prudent-
observe the methods and principles in the Charities SORP;
state whether applicable UK accounting stand3rd5 and Statement of recommended practice have
been followed. subject to any material departures disclosed and explained in the financial statements-
and
prepare the financial statements on a going concern basis unless it is inappropriate to presume that
the charitable company will continue in operation.
The trustees are responsible for preparing a trustees, annual repc)rt and financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
The trustees are responsible for maintaining proper accounting records which disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements comply with the Companies Act 2006 and the Charities Act 2011. The trustees are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
In so far as the trustees are aware-
there is no relevant information of which the charitable company's independent examiner is unaware;
and
the trustees have taken all steps that they ought to have taken to make themselves aware of anv
relevant information and to establish that the independent examiner is aware Of that information.
Approved by order of the board of trustees on 19 September 2024 and signed on its behalf by..
r*%uS￿nld by.
Megan Chidlow
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Independent examinerfs report to the trustees of
Phoenix Canoe Club Limited
I report on the accounts for the year ended 31 December 2023 set out on pages 4 to 9.
Respettlve responslbSlltSes of trustees and examiner
The charity's trustee5 (who are a150 the directors forthe purposes of cornpany13wl Bre re5wnsible forthe preparation
of the accounts. The charity's trustees consider that an audit is not required forthis period lunder Section 144121 ol the
Charities Act 2011 Ithe 20113ctll and that an independent examination is required.
Having satisfied myself that the charity is not subjert to an audit under company law and is eligible for an independent
examination, it is my responsibility to..
Examinè the actounts undÈr Settion 145 of thè 2011 Act
to follow the procedures laid down in the General Directions given by the Charity Comtnission (under Section
14515llbl ol the 2011 Actl,. and
to state whether particular matters have come to rny attention.
Basls of the Independent examlner's report
My examin4tion wa5 carried out in 4ccordance with the Gener41 Dirertion5 given by the Charity Commission. An
examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented
with those records. It also includes consideration of any unusual Irems of disclosures in the accounts, and seeking
explanations from you as trustees Concerning any such matters. The procedures undertaking do not provide all the
evidence that would be required in an 4udit, consequently no opinion is given a5 to whether the accounts present a
'true and lair view, and the report is lirnited to those matters set out in the statements below.
Independent examinerfs statement
In connection with my examination, no matter has come to my attention..
which gives rne re350nable cause to believe th4t, in 4ny material respect, the requirements..
to keep accounting records in accordènce with Section 386 and 387 of the Companie5 Act 2006,. and
to prepare accounts which accord with the accounting records, comply with the accounting records of Section
394 and 395 of the Companles Act 2(K6 and wlth the methods and principlÈs of the Statement of Recommended
PractitÈ'. Actountlng and Reportlng by Charltles.
have not been met,. or
to which, in my opinion, attention should be drawn in orderto enable a proper understanding of the accounts to
be reached.
Dott￿￿nEd br.
Copltoi fuxAccountonts Llmlted
Kumail Walji IDirectorl
Capital Tax Accountants Limited
Suite 115, Devonshire Hous&
Manor Wav
orehamwood
Hertlordshire WD6 IQQ
Date..
912612024
P8ge 11

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Statement of financial activities for the year ended 31 Oecember 2023
{incorporating income and expenditure account)
Unrestricted
Restricted
Total
Totsl
Year to 31
December
2023
Year to 31
December
2022
Notes
Funds
Funds
Income from-
Donations and grant5
Charitable activities
Trading activities
Investment income
13,760
13,760
156.923
5.359
263
14,871
167,534
2,642
18
156,923
4.289
1,070
263
Total Income
161,212
15.093
176 305
185,065
Expenditure on-
Costs of raising funds
Charitable activities
219
182,463
219
201,404
214
182,025
18,941
Total expendlture
182.682
18,941
201.623
182,239
Net Incomellexpendlturel
121,4701
13,8481
125,3181
2.826
Transfers in/loutl between funds
3,174
13,1741
Net movement in fund5
118,2961
17,0221
125,3181
2.826
Reconclllatlon of funds:
Total funds brought forward
115.524
16.541
132,065
129.239
Total funds carried tOn￿ard
97.228
9.519
106,747
132,065
There are no recogni5ed g3in5 3nd1055es other than those in the 5taternent of financial 3Ctivities. Therefore no
Statement of tot31 recogni5ed g3ins and105ses h3s been prepared. All the 3bove amounts relate to continuing activitie5.
The note5 on page5 15 to 25 form part of these account5
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Balance Sheet
As at 31 December 2023
Company no: 08002910
31
Dècember
2023
31
December
2022
Notes
Fixed Assets
Tangible Assets
io
26,849
23,740
Current Assets
Debtors
Cash at bank and in hand
li
24,354
95,869
120,223
10,978
121,546
132,524
Credltors.. amounts fallln8 due wlthln one year
12
140,3251
124,1991
Net current a55et5
79,898
108,325
Net assets
106,747
132,065
Funds
Unrestricted funds
Designated funds
General funds
14
46,849
50,379
97,228
43,740
71,784
115,524
Restricted funds
13
9,519
16,541
Total funds
15
106 747
132 065
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 December 2023.
The members have not required the charitable company to obtain an audit of its financial statements for the year
ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilties for complying Wlth the requirements of the Compènies Act 2006 with
respect to accounting record5 and preparation of accounts. The account5 have been prepared in accordance with the
provi5ion5 in Part 15 of the Companie5 Act 2006 applicable to companies subject to the small cornpanies regime.
The accounts were approved by the bo3rd of trustees on 19 September 2024 and signed on their behalf by..
OottuS*n•dtsy.'
rTADJOJ42
Megan Chidlow ITreasurerl
The notes on pages 15 to 25 form part of these accounts
Page 13

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Cash Flow Statement
For the year ended 31 December 2023
Year to 31
De￿mber
2023
Year to 31
December
2022
Cash flows from operatlng actfvltles..
Net lexpenditurel/income for the financial ye3r
125.3181
2,826
Adjustments for..
Depreciation of tangible assets
Investment income
Ilncre3seldecrease in debtors
Incre3se in creditors
6.434
12631
113,3761
16.126
12,684
1181
12,0491
5,699
Net cash generated from operatlng actlvltles
116,3971
19,142
Cash flows from investin8 artivities..
Income from investments
Purchase of plant and machinery
Proceeds from the di5P05al of fixed assets
263
110,5231
980
18
Net cash from investing activitie5
19.2801
18
Change In cash and cash equlvalents In the year
125,6771
19,160
Cash and cash equivalents at the beginning of the year
121,546
102,386
Cash èquivalents at the end of the year
Cash and cash equivalents at the end of the year comprise:
Cash at bank and in hand
Page 14

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements
For the year ended 31 December 2023
l. Accountlng pollcles
al Basls of preparation
The financièl statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151- (Charities
SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the
Companies Act 2006.
The financial statements have been prepared under the historical cost convention with items recognised at Cost or
transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial
statements.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities recognised at
historical cost or transaction value unless Otherwise stated in the relevant accounting policy notes. The functional
and presentational currency is pounds sterling and rounding is to the nearest pound.
bl Income
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with
reasonable certainty and it is probable that the income will be received. Income is deferred only when the charity
has to fulfil certain conditions before becoming entitled to it or where the donor or funder has specified that the
income is to be expended in a future accounting period.
Investment Income is included in the account5 when receivable.
Grants and donations are recognised once entitlement and value have been confirmed in writing.
¢1 Expenditure
Expenditure is recognised once here is a legal or constructive obligation to make a payment to a third party, it is
probably that settlement will be required and the amount of the obligation can be measured reliably. Expenditure
includes irrecoverable VAT and comprises direct costs and support costs. All expenditure is allocated to the activity
heading5 below, where the cost relates directly to that activity. Support costs are allocated using an apportionment
in proportion to staff time working in each area.
Expenditure on raising funds includes all expenditure associated with raising funds for the charity.
Expenditure on charitable activities includes all costs associated with delivering all activities of the charity in the
provision of its charitable activities.
dl Taxation
No liability to UK corporation tax arose on ordinary activities for the period ended 31 December 2023 as the
company has tax-exempt charity status.
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Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements
For the year ended 31 December 2023
l. Accountlng pollcles Icontlnuedl
el Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
Useful life..
Plant and equipment- over 7 years on cost straight line basis
Motor vehicles- over 4 year5 Oll cost straight line ba51S
fl Debtors
Trade and other debtors are recognised 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 tax recoverable
is included at the best estimate of the amount receivable at the balance sheet date.
gl 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 of three
months or less from the date of acquisition or opening of the deposit or similar account.
h) Creditors
Creditors and provisions are recognised 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 reliably.
il Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of
the general objectives of the Charity and which have not been designated for specific purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors. The
aim and use of each restricted fund is set out in the notes to the accounts.
Il 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.
Page 16

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
2. Income from donatlong and grants
Year to 31
December
2023
Current year
Unrestrlcted
Funds
Restrlcted
Funds
Total
Funds
Donations
2,776
10,984
2.776
10.984
Gr3nts- trusts and foundations
13,760
13.760
Year to 31
Detember
2022
Prioryear
Unrestrirted
Restricted
Total
Funds
Funds
Funds
Donations
2,455
12,416
2A55
12.416
Grants- trusts and foundations
14,871
14,871
3. Income from charitsble artlvltles
Year to 31
De￿mber
2023
Current year
Unrestrirted
Funds
Restricted
Fund5
Total
Funds
Fee income.. courses for schools, groups and individuals
156,923
156.923
156,923
156.923
Year to 31
December
2022
Prlor year
Unrestrirted
Funds
Restrlcted
Funds
Total
Funds
Fee income.. courses for schools, groups and individuals
167,534
167.534
167,534
167.534
Page 17

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
4. Intome from other trading artivities
Year to 31
December
Current year
2023
Unrestricted
Restricted
Total
Funds
Funds
Funds
Membership incorne
Income from fundraising events and activities
1,880
2.409
1.880
3.479
1,070
4.289
1,070
5.359
Year to 31
December
2022
Prlor year
Unrestrlrted
Funds
Restrlcted
Funds
Total
Funds
Membership income
Income from fundr3ising events and activities
2,625
17
2.625
17
2.642
2.642
5. Expendlture by actlvlty type
Year to 31
December
2023
Current year
Staff costs
Costs
Non Staff
Costs
Support
Costs
Total
Fund5
Unrestrlcted funds..
Charitable activities
125,019
31,355
219
26,089
182A63
219
Activities for raising funds
Total unrestrlcted funds
125,019
31.574
26,089
182,682
Regtrlcted funds..
Charitable activities
9.184
9,757
18.941
Total restricted funds
9.184
9,757
18.941
134,203
41.331
26,089
201,623
Page 18

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
5. Expenditure by adivity type Itontlnuedl
Year to 31
December
Prior year
2022
Staff costs
Non stsff
Costs
Support
Costs
Total
Funds
Costs
Unrestricted funds..
Charitable activities
107,419
40,900
214
21,290
169.609
214
Activities for raising funds
Total unrestricted funds
107A19
41.114
21,290
169.823
Restricted funds..
Charitable activitie5
12,416
12N16
Total ￿trIcted funds
12,416
12,416
119.835
41,114
21,290
182.239
Page 19

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
6. Support costs
Yearto 31
December
Yearto31
December
2023
2022
Total
Total
Funds
Funds
Property and related costs
oirice expen5e5
Professional fees, aecountancy and subscriptions
IT costs
15,495
1,397
3A67
2,309
344
11,443
3,598
2,433
1,252
162
Marketing costs
Governance costs
2,676
2,402
26,088
21,290
7. Staff costs
Yearto 31
December
2023
Yearto31
December
2022
Wages and salarie5
Employers, National Insurance
Employers pension contributions
127.181
S,310
1,712
114,768
3,923
1,144
134.203
119,835
Average number of employees during the period/year
Average number of full time equivalent employees durin8 the periodlyear
Page 20

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
8. Trustee expenses
No tru5tee5 received any rernuneration or expenses frorn the Charity in re13tion to the performance of their duties as trustees.
No trustee expenses were paid to trustees during the year to 31 December 2023 or the year to 31 Decernber 2022.
9. Net income is stated after charging
Yearto 31
December
2023
Yearto31
December
2022
Depreciation of owned fixed a55etS
Independent Examiner's remuneration
6,434
1,2C¥)
12,684
1,200
10. Tangible fixed asset5
31 December 310ecember
2023
2022
Buildings
Plant and
Motor
equipment
vehicles
Total
Total
Brought forward
Additions
128,007
2.249
121,2501
15,886
s,ioo
11,9601
143,893
10,S23
123,2101
143,893
3,174
Disposals
Carried forward
3,174
109.006
19.026
131,206
143,893
Depreclatlon
Brought fonMard
Char8e for the year
Depreciation on disposal
105,247
4,706
121,2501
14,906
1,275
19801
120,153
6A34
122,2301
107,469
12,684
453
Carried forw3rd
453
88.703
15,201
104,357
120,153
Net book value
A5 at 31 December 2023
As at 31 December 2022
2,721
20.303
22.760
3,825
980
26,849
23,740
23,740
36,424
Page 21

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
11. Debtors
31 December 31 December
2023
2022
Trade debtors
Other debtors
19.185
17
5,152
8,191
Prepayments
2,787
24,354
10,978
12. Credltors
31 December 31 Oecember
2023
2022
Trade creditors
Other taxation and social security
other creditors
140
957
1,802
184
144
Accruals
Deferred income
21,565
18,476
18,095
3,161
40,325
24,199
Page 22

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
13- Restrided funds
alance at
l January
2023
Balance at
31 December
Income
Expenditurè
Transfers
2023
Current year
New Building fund
RYA
john Lyon's Charity- SHAF
Port of London Authority- Thames Active
Barnet Council
16,541
4.109
4.320
4,100
1,550
764
19,7571
14,3201
14,1001
13,1741
7,719
1,550
17641
Staff training
250
250
16,541
15.093
118.9411
13,1741
9.519
13: Restricted funds
Balance at
Balance at
31 December
2022
l January
2022
Prior year
Income
Expenditure
Transfer5
New Building fund
Canal and River Trust
8arnet Council
14,068
2,473
5,000
6.876
540
16.541
15,0001
16,8761
15401
Brent Council
14,068
14.889
112A161
16.541
Transfers of funds represents the purchase of fixed 35set5 Using restricted grants and donations, where the asset5 purchased
with these funds are intended for the general purposes of the charity.
Purpose of restrScted funds
New Building fund
Brent Council
Barnet Council
Funds raised towards the long-term project of a new centr& building for the charity.
Fund5 for providing inclusive watersport5.
Innovation Fund grant for providing inclusive watersports.
Funds to provide inclusive watersports.
School Holiday Activity Fund ISHAFI.
Royal Yachting Association / Sport England"Together Fund"
Active Thames'watersports Inclusive"
Fund5 received for staff training to take place in 2024
Canal and River Trust
John Lyon'5 Charity- SHAF
RYA
Port of London Authoritv
St3ff training
Page 23

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
14- Designated funds
Balance at
31 December 31 December
Balance at
2023
2022
Capital fund representing net book value of fixed assets
Funds designated to new building
26,849
20,OC
23,740
20,000
46A49
43,740
IS: Analysls of net assets between funds
31 Detèmbèr 31 Decernber 31 Detember 31 DeCem￿r
2023
2023
2023
2023
Current year
Restrirted Unrestricted Unrestricted
Total
Desl8nated
Funds
General
Funds
Funds
Funds
Tangible fixed assets
Current assets
Creditors due within one year
26,849
20,000
26,849
120.223
140.3251
9.519
90,704
140,3251
9,519
46,849
50,379
106,747
31 December 31 December 31 December 31 December
2022
2022
2022
2022
Prlor perlod
Restricted Unrestrlcted Unrestrlcted
Designated
General
Funds
Funds
Total
Funds
Funds
Tangible fixed asset5
Current a55ets
23,740
20,000
23.740
132.524
124.1991
16,541
95,983
124,1991
Creditors due within one year
16.S41
43,740
71,784
132.065
Page 24

Docusi9n Envelope ID.. A2362022-53AE4399-8838-1303EF51315B
Phoenix Canoe Club Limited
Notes to the Financial Statements {continued)
Forthe year ended 31 December 2023
16. Penslon commltments
The charity operates a separate defined contributions pension scheme. The assets of the scheme are held separately from those
of the charity in an independently administered fund. The pension costs charge represent5 contributions payable by the charity
to the fund5 and arnounted to £1,712 in the year to 31 December 2023 (year to 31 December 2022.. £1,144). Contributions
totalling £1841310ecember 2022.. £1841 were payable to the fund at the balance sheet date of 31 December 2023 and 3re
included in creditors.
Page 25