Charity number: 1160177 THE PHOENIX YOUTH PROJECT UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE PHOENIX YOUTH PROJECT CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the financlal statoments 8-19
THE PHOENIX YOUTH PROJECT REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Mr S Butterworth, Chair Mr J Alick, Trustee Mrs M Malloy, Trustee Mr M Priestley, Trustee Mr P Zanacchi, Trustee Mrs K Daniels, Trustee Charity reglstered number 1160177 Accountants Armstrong Watson LLP Chartered Accountants Carlelon House 136 Gray Street Workington Cumbria CA14 2LU Page 1
THE PHOENIX YOUTH PROJECT TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees presenl Iheir annual report together with the financial statements of the The Phoenix Youth Project for the year 1 April 2024 to 31 March 2025. Objectives and activities a. Objectives and purpose of the charity The Phoenix Youth Project is an award winning youth work charity that supports young people aged 8 -19 years old in Cleator Moor & Frizington, Cumbria. We provide modern, forward thinking, and exciting youth work that seeks lo engage with young people socially, recreationally and emotionally. We also deliver ten evening youth club sessions across our delivery area running two friendly and vibrant youth clubs. Our main objectives of the charity are lo.. Encourage a healthy lifestyles Raise aspirations and self-confidence Reduce discrimination and anti-social behaviour Develop positive behaviour through respect and integrity We focus on the personal and social development of the young people we work wilh, supporting and challenging them appropriately as required. Through our rewards for action scheme we deliver trips. activities and residential experiences of the young people's choice in every school holiday period. Wherever possible we engage with and support the communities in which we operate. Achlèv•ment8 and performance a. Main achievements of the Charlty The past twelve months has been another year of great success for The Phoenix Youlh Project. Although we are all experiencing a tough economic and funding climate The Phoenix Youth Project continues to go from strength to strength despite this. We are in a very secure position finances wise. We have a fantastic team of trustees, staff and volunteers that have the shared drive of delivery fantastic youth work services to local children and young people. We continue to run our youth centres, in Cleator Moor and Frizington across ten evening sessions. Our Friday Night Project sessions have continued lo be a huge success this year. We have had our first full year in our new youlh and community centre in Frizington and our numbers have seen a 40 % rise in the new centre. We have continued the journey of the building been seen as a true community hub that brings back services to the village of Frizington. We've had a number of new users and services delivered from the centre this year, including a warm hub, family help and wellbeing roadshow, and community foster care hiring the building. Page 2
THE PHOENIX YOUTH PROJECT TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance (contlnued) b. Main activities Young people have laken part in many learning and developmental opportunities., such as various informal educational workshops on issues such as, vaping, road safety, social media and mental health, bullying and drugs and alcohol. Such workshops are part of our Rewards for Actions Scheme where young people collect points for participating in community tasks and informal educational workshops. These points are then 'cashed in, for trips and activities of the young people's choice. We never charge a monitory value for any trip., but we also never allow any young people to attend the trips without gaining a set level of points, this differs from trip to trip depending on cost. We believe that this gives the young people goals to achieve, and makes all trips more worthwhile and ultimately more enjoyable. This year young people have been on two outward bound residentials lo Kepplewray. Through such activities, we aim to create opportunity and form an awareness of social issues, by taking young people out of their normal environment to experience diverse environments, and to encourage them in their personal and social development. Young people have participated in trips and activities in every school holiday this year, which has included trips to, Blackpool Pleasure Beach. Rookin House, Go Karting, Sandcastles Water Park and Go Karting. I would like to take this opportunity to thank the management committee, the Phoenix Youth Project team and all of our volunteers for their hard work and dedication over the past twelve months. Flnanclal review a. Golng concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for Ihe foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Funders On behalf of The Phoenix Youlh Project I would like to thank our funders for their continued generous financial support. During the past twelve months we have received funding from.. Copeland Communily Fund, BBC Children In Need, Sellafield Ltd, Francis C Scotl Charitable Trust, Cleator Moor Town Council, Arlecdon & Frizinglon Parish Council, #CanDo- Cumbria Community Foundation, Cavendish Nuclear, Romar Limited, Coalfields Regeneration Trust, Egremont Heritage, Groundwork UK (Tesco's), Sellafield Snowball Fund. Structure, governance and management . Constitution The Phoenix Youth Project is a registered charity. number 1160177, and is constituted under a Trust deed. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Page 3
THE PHOENIX YOUTH PROJECT TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales 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 and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Truslees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent-, state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements.. 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 adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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. Approved by order of the members of the board of Trustees and signed on their behalf by: Stev• utterworth Trustee & Chair Date.. 29 September 2025 Page 4
THE PHOENIX YOUTH PROJECT INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent examiner's report to the Trustees of The Phoenix Youth Project ('the Charity,) I report to the charity Truslees on my examination of the accounts of the Charity for the year ended 31 March 2025. Responsibilitles and basls of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'}. I report in respect of my examination of the Charity's accounts carried out under seclion 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Your attention is drawn lo the fact that the Charity has prepared the accounts 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 102) in preference to the Accounling and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair vlew in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examinalion. I confirm that no matters have come to my atlenlion in connection with the examination giving me cause to believe that in any material respect.. accounting records were nol kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning Ihe form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Dated.. Steven Kirkbride BFP FCA Carleton House, Workington, CA14 2LU Page 5
THE PHOENIX YOUTH PROJECT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Other trading activities 130,000 8,964 96,714 226,714 8,964 369,616 11.579 Total Income 138,964 96,714 235,678 381, 195 Expenditure on: Charitable activilies 160,805 75,979 236,784 418,164 Total expenditure 160,805 75,979 236,784 418,164 Net {expenditure)lincome Transfers between funds (21,841) 20,590 20,735 (20,590) (1,106) (36,969) 12 Net movement In funds (1,251) 145 {1,106) (36, 969) Reconciliation of funds: Total funds brought forward Net movement in funds 132,670 (1,251) 21,008 14S 153,678 (1,106) 190,647 (36,969) Total funds carried forward 131,419 21,153 152,572 153,678 The Statemenl of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 19 form part of these financial statements. Page 6
THE PHOENIX YOUTH PROJECT BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets 19,503 25,290 19,503 25,290 Current assets Stocks Debtors Cash at bank and in hand 40 40 20,178 143,299 10 14,118 182,204 196,362 163,517 Creditors: amounts falling due within one year (63,293) (35, 129) Net current assets 133,069 128, 388 Total assets less current Ilabllltles 152,572 153,678 Net assets excluding pension asset 152,572 153,678 Total net assets 152,572 153,678 Charlty funds Restricted funds Unrestricted funds 12 12 21,153 131,419 21,008 132,670 Total funds 152,572 153,678 The financial statements were approved and authorised for issue by the Trustees on 29 September 2025 and signed on their behalf by: Mr P Zanacchi Trustee The notes on pages 8 to 19 form part of these financial statements. Page 7
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General information The Poenix Youth Project is a charitable incorporated organisation. Accounting policies 2.1 Basis of preparation of financlal statements The financial statements have been prepared in accordan with the Charities SORP {FRS 102) 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 {FRS 102) (effective 1 January 2019), the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from Ihe Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Phoenix Youth Project meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aclivity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single aclivity are allocated directly to thal aclivily. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 8
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (contlnued) 2.4 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset inlo its intended working condition should be included in the measurement of cost. Deprecialion is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis: Fixtures and fittings 200 Straight line & reducing balance 2.5 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.6 Dobtors Trade and other debtors are recognised at the settlement amount after any trade discounl offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of Ihree months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liablllties and provlslons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle Ihe debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at Ihe best estimate of the amounls required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounled at the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.9 Financlal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iransaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page g
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies <contlnued) 2.10 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 other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income from donations and legacles Unrestrlcted Restricted funds funds 2025 2025 Total funds 2025 Donations Grants 2,370 127,630 2,370 224,344 96,714 130,000 96,714 226,714 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Donations Grants 2,941 174, 107 2,941 366, 675 192, 568 177,048 192, 568 369,616 Page10
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from other trading activities Income from fundraising events Unrestricted funds 2025 Total funds 2025 Eventsffundraising income Tuck shop income Centre hire income 470 2.543 5,951 470 2,543 5,951 8,964 8,964 UnrestriGled funds 2024 Total funds 2024 Eventslfundraising income Tuck shop income Centre hire income 573 3, 688 7,320 573 3, 686 7,320 11,579 11,579 Analysls of expenditure on charltable activitles Summary by fund type Unrestricted Restricted funds funds 2025 2025 Total 2025 Direct costs 160,805 75,979 236,784 Unrestricted funds 2024 Restricted funds 2024 Total 2024 Direct costs 212,063 206,101 418,164 Page11
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Activities undertaken directly 2025 Total funds 2025 Direct costs 236.784 236,784 Activities undertaken directly 2024 Total funds 2024 Direct costs 418, 164 418, 164 Analysls of direct costs Total funds 2025 Dlr•ct costs 2025 Depreciation Cost of activites Tuck shop purchases Rent Insurance Repairs and maintenance Telephone Staff Training Sundry expenses Motor expenses Accountancy fees Bank charges Heat, light & power Social security costs Wages and salaries Staff pension costs 5,787 17,911 2,708 4,000 2.462 6,611 5.213 869 5,787 17,911 2,708 4,000 2,462 6,611 5,213 869 6,820 2,184 2,580 95 6,613 7,369 158,207 7,355 6,820 2,184 2,580 95 6.613 7,369 158,207 7,355 236,784 236,784 Page 12
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities (continued) Analysis of direct costs (contlnued) Total funds 2024 Direct Gosts 2024 Depreciation Cost of activites Tuck shop purchases Rent 6,821 22.088 2,999 3,900 2,120 190,880 2,918 735 600 1,974 1,561 2,257 137 6, 066 2,867 163, 775 6,466 6,821 22,088 2,999 3,900 2, 120 190,880 2,918 735 600 1,974 1,561 2,257 137 6,066 2,867 163, 775 6,466 Insurance Repairs and maintenance Telephone Printing, postage, & stationary Staff Training Sundry expenses Motor expenses Accountancy fees Bank charges Heat, light & power Social security costs Wages and salaries Staff pension costs 418,184 418,164 Trustees, rèmuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 13
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets Fixtures and rittings Cost or valuation At 1 April 2024 44,061 At 31 March 2025 44,061 Depreciation At 1 April 2024 Charge for the year 18,771 5,787 At 31 March 2025 24,558 Net book valu• At 31 March 2025 19,503 At 31 March 2024 25,290 Stocks 202S 2024 Finished goods and goods for resale 40 40 10. Debtors 2025 2024 Due within one year Trade debtors Prepayments and accrued income 12,927 1.191 18,987 1,191 14,118 20,178 Page 14
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Creditors: Amounts falling due within one year 2025 2024 Prepaid income Accruals and deferred income 61,557 1,736 33,521 1,608 63,293 35,129 Page15
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Expendlture Unrestricted funds Designated funds Frizington Building Fund 10,000 10,000 Balance at 31 March 2025 Balance at 1 AprS12024 Transfers Inlout Income Expenditure General funds General Funds 122,670 138,964 (160,805) 20,590 121,419 Total Unrestrlcted fund8 132,670 138,964 (160,805) 20,590 131,419 Restricted funds BBC Children in Need Coivd 19 Development Officer Fund Laptops Sellafield Snowball Fund Romar Limited 30,000 {30,000) (700) (42,754) (790) {1.735) 700 17,163 3,145 59,979 (15,590) 18,798 2,355 1,735 5,000 {5,000) 21,008 96,714 (75,979) {20,590) 21,153 Total of funds 153,678 235,678 (236,784) 152,572 Page 16
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Statement of funds (continued) Statement of funds - prior year Balance al 31 March 2024 Balance al l April 2023 Transfers in/oul Income Expenditure Unrestricted funds Designated funds Frizington Building Fund 58,282 (45,936) (2,346) 10,000 Balance al 37 March 2024 Balance at l April 2023 Transfers in/ou¢ Income Expenditure General funds General Funds 106,154 188,627 (166, 127) (5.984) 122,670 Total Unrestrlcted funds 164,436 188,627 (212,063) (8,330) 132, 670 Balance al 31 March 2024 BalanGe 81 l April 2023 Transfers in/out Income Expenditure Restrlcted funds BBC Children in Need Coivd 19 Developmenl Officer Fund Laptops Frizington Refurb fund 30,000 (30,000) (700) (38,365) (790) (136,246) 1,400 13,617 3, 935 7,259 700 17,163 3, 145 41,91q 120.657 8, 330 26,211 192,568 {206, 101) 8,330 21,008 Total of funds 190,647 381,195 (418,164) 153.678 Page 17
THE PHOENIXYOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Summary of funds Summary of funds - current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Transfers inlout Income Expendlture Designated funds General funds Restricted fund8 10,000 122,670 21,008 10,000 121,419 21,153 138,964 96,714 {160,805) (75,979) 20,590 (20,590) 153,678 235,678 (236,784) 1 $2,572 Summary of funds - prior year Balance at 31 March 2024 Balance at 1 April 2023 Transfers in/oul Income Expenditure Designated funds General funds Restricted funds 58, 282 106,154 26,211 (45,936) (166, 127) (206, 101) (2,346) (5,984) 8.330 10,000 122,670 21,008 188,627 192,568 190,647 381, 195 (478,164) 153,678 14. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestricted Restrlcted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 17,188 177,524 (63,293) 2,315 18,838 19,503 196,362 (63,293) Total 131,419 21,153 152,572 Page 18
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 21,485 146,314 (35, 129) 3,805 17,203 25, 290 163,517 (35,129) Total 132,670 21,008 153,678 Page 19