THE BERMUDA PHOENIX CENTRE LTD
(Company number 08432588, registered charity number 1153266)
Financial statements
for the year ended 31 March 2021
| Page | Contents |
|---|---|
| 2 - 4 | Directors’ (Trustees’) annual report |
| 5 | Independent examiner’s report |
| 6 | Statement of financial activities (including the income |
| and expenditure account) | |
| 7 | Balance sheet |
| 8 - 9 | Notes to the accounts |
THE BERMUDA PHOENIX CENTRE LTD
Directors’ report (incorporating the Trustees’ annual report) for the year ended 31 March 2021
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31 March 2021.
Full name : The Bermuda Phoenix Centre Ltd Registered charity number: 1153266 Registered company number: 08432588 Principal address: Bermuda Road, Nuneaton, Warwickshire, CV10 7HU Directors (Trustees): Mr Peter AW Deeley Mrs Pauline Walker, appointed 01.01.19. Bankers: HSBC, 3a Queens Road, Nuneaton, CV11 5JL Independent examiner: Paula Wilson, MAAT 2 Hickman House, Hickman Road, Galley Common Nuneaton, CV10 9NQ
Governance and management
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 6[th] March 2014. It has no share capital and the liability of each member in the event of winding-up is limited to £1.
Overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the constitution. Day to day management is carried out by paid staff and/or volunteers.
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THE BERMUDA PHOENIX CENTRE LTD
Director’s Report (continued)
for the year ended 31 March 2021
Aims and objectives
To further or benefit the residents of the Bermuda area of Arbury and the wider neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents.
The charity’s policy on reserves
The charity has no specific policy with regard to the level of reserves.
Funds materially in deficit
Deeley Properties provided a loan of £10,000 in order to assist with the set-up costs of the organisation. This loan will be repaid only when the organisation has the funds to do so. The organisation is still therefore a going concern despite the balance sheet showing a negative balance in 2019/20.
Exemptions
The trustees have taken advantage of the exemptions available to small companies, including the audit exemption (see statement on balance sheet).
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THE BERMUDA PHOENIX CENTRE LTD
Director’s report (continued)
for the year ended 31 March 2021
Responsibilities of the trustees
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended.
In preparing those financial statements, the trustees are required to: select suitable accounting policies, as described on page 8, and then apply them on a consistent basis, making judgements and estimates that are prudent and reasonable. The members of the Committee must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping 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. 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 or other irregularities.
Declarations
The company has taken advantage of the small companies’ exemption in preparing the report above.
The trustees declare that they have approved the trustees’ report (including directors’ report) above.
Signed on behalf of the charity’s trustees/directors
Signature ______ Date _
Full Name: Peter AW Deeley, Director
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Independent examiner’s report to the trustees of
THE BERMUDA PHOENIX CENTRE LTD
for the year ended 31 March 2021
Report to the trustees / directors of Bermuda Phoenix Centre Ltd on accounts for the year ended 31[st] March 2021, charity number 1153266, company number 08432588, set out on pages 6 to 9.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with general Directions 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 items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention to indicate that:
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accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
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the accounts do not accord with such records:
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where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102)
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any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
1[st] November 2021
Signed: ____ Date: _______
Paula Wilson, MAAT
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THE BERMUDA PHOENIX CENTRE LTD
Statement of financial activities
(incorporating the income and expenditure account)
for the year ended 31 March 2021
| Unrestricted Funding Note £ Incoming resources Bar Income 1,493 Rent 4,120 Car Park 1,150 Food Income 523 Grants 38,187 Sundries 3,550 Total incoming resources 49,022 Resources expended Salaries 4 13,985 Property Costs 18,119 Breakfast Club 952 Bar expenditure 1,669 Miscellaneous 3,609 Grant expenditure 3,689 Independent Examination 150 Total resources expended 42,173 Surplus / (deficit) 6,850 Balance bought forward (4,013) Balance Carried Forward 2,837 |
2021 Total Funds £ 1,493 4,120 1,150 523 38,187 3,550 49,022 13,985 18,119 952 1,669 3,609 3,689 150 42,173 6,850 (4,013) 2,837 |
2020 Total Funds £ 12,801 17,907 13,745 5,743 8,285 - 58,481 11,937 18,425 5,819 11,965 5,098 7,647 150 61,042 (2,561) (1,452) (4,013) |
|---|---|---|
All the activities of the charitable company are classed as continuing.
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THE BERMUDA PHOENIX CENTRE LTD
Balance sheet
at 31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note Current assets Cash at bank and in hand Current liabilities Sundry creditors 6 |
£ 12,987 (150) |
£ 6,287 (300) |
|
| Long term liabilities Deeley Properties Loan 3 |
(10,000) | 2,837 2,837 2,837 - 2,837 |
(10,000) |
| Total liabilities | (4,013) | ||
| Net current assets | (4,013) | ||
| Represented by | |||
| Unrestricted Funds | (4,651) | ||
| Restricted Funds | 638 | ||
| Balance carried forward | (4,013) |
Exemption from audit
For the year ending 31[st] March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006:
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The directors declare that they have approved the accounts above.
Signed on behalf of the company’s directors:
Signed: ____
Dated: ________
Peter AW Deeley, Director
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THE BERMUDA PHOENIX CENTRE LTD
Notes to the accounts
for the year ended 31 March 2021
1. Accounting policies
Basis of the preparation of the accounts
These financial statements have been prepared under the historical cost convention, with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
Incoming resources
All material incoming resources have been included on a receivable basis – i.e. they are included if the date receivable falls within the period covered by these accounts.
Resources expended
These have been analysed using a natural classification.
2. Creditors
| Independent Examination | 2021 2020 £ £ 150 300 150 300 |
|---|---|
3. Long Term Liabilities
Deeley Properties provided a loan of £10,000 in order to assist with the set-up costs of the organisation. This loan will be repaid when the organisation has the funds to do so. The organisation is still therefore a going concern despite the balance sheet showing a negative balance.
4. Staff costs and numbers
The Bermuda Phoenix Ltd employed one member of staff at a cost of £13.985.
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THE BERMUDA PHOENIX CENTRE LTD
Notes to the accounts
for the year ended 31 March 2021
5. Trustees’ remuneration, benefits and expenses
Trustees received no expenses, remuneration or benefits in this period
6. Independent examination and accountancy services
During the period, the cost of the examination and accountancy services was
7. Annual commitments under operating leases
The Company has a long term lease on the premises of the Bermuda Phoenix Centre and an associated parking licence at an annual rent of one peppercorn. The freehold owner of the premises of the Bermuda Phoenix Centre is Deeley Properties Limited.
8. Glossary of terms
Creditors: These are amounts owed by the charity, but not paid during the accounting period.
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