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2022-08-31-accounts

Charity registration number 1172227

Company registration number 09615159 (England and Wales)

THE PHOENIX AUTISM TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

THE PHOENIX AUTISM TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees S Harris (Chair) (Appointed 2 February 2022)
J Caunt
T Sode
A S Lusk
M Wojcik (Appointed 10 May 2022)
D J Stride (Resigned 2 February 2022)
Senior Management Team Renato Marques Teixeira – Principal (Appointed September 2021)
Shalim Ahmed – Business Manager
Seny Begum – Office Manager
Jay Patel - External Consultant
Charity number 1172227
Company number 09615159
Registered office 2 Paton Close
Bow
London
E3 2QD
Auditors SKS Audit LLP
3 Sheen Road
Richmond Upon Thames
TW9 1AD
Bankers Royal Bank of Scotland
Threadneedle Street Branch
London
EC2R 8LA
Website www.phoenixcollege.london

THE PHOENIX AUTISM TRUST

CONTENTS

Page
Trustees' report 1 - 6
Independent auditor's report 7 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 21

THE PHOENIX AUTISM TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and accounts for the year ended 31 August 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable company's Memorandum and Articles of Association, provisions of Charities Act 2011, the Companies Act 2006 and “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)”

Objectives and activities

Our community values opportunity and diversity, and we seek to reduce barriers and to give everyone an equal chance to learn, work, and live free from the action, or fear, of racism, discrimination, or prejudice.

We operate mainly in East London, where we run Phoenix College, a post-19 educational provider serving the needs of young people from Tower Hamlets and surrounding boroughs with Autism and / or language, communication or interaction difficulties. The charity’s objects are:

To advance the education of people with Autism and / or language, communication or interaction difficulties, including but not exclusively those currently or previously attending or supported by Phoenix School, Tower Hamlets, in particular by:

This includes supporting post-19 education and other areas of activity.

Our volunteers

There were no volunteers during the year.

Achievements and performance

Project Search – Supported Internship

Phoenix Autism Trust was provisionally approved as an independent educational institution under Section 41 of the Children and Families Act on 31 August 2019. This enabled the Trust to work with Local Authorities to run the Phoenix Project Search Programme. This provisional approval became a full approval following a due diligence visit from the Education and Skills Funding Agency (ESFA) in March 2020.

The Phoenix Project Search partnership started in September 2019 between Phoenix School, DFN Project SEARCH, Phoenix at Tower Hamlets (PATH) (the precursor to Phoenix College), Queen Mary University of London, Kaleidoscope Saber and Tower Hamlets Local Authority. Project Search seeks to get young people employed through a programme of sustained work placements. Participants spend some time in the classroom but the majority of the time in real work environments.

In 2021/22, there were five students on the Project Search programme with work placements at Queen Mary University and students had an opportunity to work in a number of departments.

Two of the students went on to employment in a range of industries and two students returned to further education.

THE PHOENIX AUTISM TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

Phoenix College

The Trust was successful in its application to be listed on the Secretary of State's Section 41 list as a Special Post-16 Institution (SPI) and subsequently was granted a contract for placement funding by the ESFA. The previous college partnership with New City College (PATH) ceased at the end of July 2020.

Phoenix College moved to its new premises at Phoenix Upper South in January 2021. The transition to the new building was very successful and allowed students to access more subjects linked to independent living, horticulture and sports. That allowed the curriculum team to develop new courses and to start the planning of a new curriculum.

The new curriculum focuses on the four areas of preparation for adulthood: Learning, Education or Employment; Independence; Health; and Friendships and Relationships. Our new curriculum is ambitious, and we aim for all students to graduate from Phoenix College with clear outcomes in all those four areas, especially Education or Employment. We expect all students to graduate with a clear pathway towards supported employment.

The new College Principal started at Phoenix College in September 2021 and has been involved in the transition process for all leavers, liaising with their respective parents and local authorities.

Public benefit statement

In shaping our objectives for the year and planning our activities, the Trustees have considered the charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity’ (PD2). The achievements and activities above demonstrate the public benefit arising through the charity’s activities.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues 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 Statement of Accounting Policies.

Financial review

During the year ended 31 August 2022, total expenditure of £888,640 (2021: £755,159) was met by recurrent education grant funding from the ESFA and from Local Authorities. The excess of income over expenditure for the year was £272,729 (2021: £243,159).

The Trust held unrestricted fund balances as at 31 August 2022 of £1,176,606 (2021: £903,877).

The Trust is holding balances as part of its reserve policy and in anticipation of the future development of Phoenix College.

THE PHOENIX AUTISM TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

Reserves policy

The Trustees consider it prudent to maintain an adequate balance of unrestricted funds to cover the charity’s contractual commitments and ideally would like these to be at a minimum level of 9 months of expenditure. This is in recognition of the volatile and complex nature of education high needs funding and the inflexibility to adjust expenditure quickly to respond to any changes.

The ESFA’s ‘lagged learner’ funding model takes the number of students from the previous year to allocate funding in the following year. This approach often entails colleges not receiving full funding for additional students until the year after and the reserves will support this transitional gap in funding.

The remainder of reserves are currently set aside for the development and growth of Phoenix College and the Trustees will review this on an ongoing basis. Phoenix College moved into its new premises in January 2021, and these premises require some ongoing maintenance.

Phoenix School continues to grow and is being asked by Tower Hamlets to increase its roll. One of the school’s options would be to expand into the accommodation currently let to Phoenix College. This school’s expansion is somewhat unexpected; Phoenix College had planned for a long-term future in the accommodation at Phoenix Upper South. Obtaining new premises in Tower Hamlets is going to be challenging. Phoenix Autism Trust Trustees and the College Principal have had a number of meetings with Tower Hamlets local authority which has not led to any local authority owned accommodation being identified. We have also contacted commercial companies in order to see whether there are any properties that would be suitable for conversion to education use. So far nothing suitable has been identified.

The College Principal has contacted the ESFA in order to seek funding once suitable premises are identified. Tower Hamlets have also been made aware that Phoenix College will need support in developing a new provision in a new setting. The Trustees are aware that a significant sum may be needed to be taken from its own reserves in order to procure and develop the right accommodation.

There is no suggestion that Phoenix College will be forced out of its current location but in order to expand as

intended, new accommodation will be required in the longer term.

The Trustees consider that the charity’s reserves will enhance the services provided and provide financial security for the future. The unrestricted funds not designated or invested in tangible fixed assets held by the charity are £1,176,606 (2021: £903,877).

Principal Funding Sources

The principal funding sources during the 21/22 year were education funding from the ESFA, Tower Hamlets Local Authority, Newham Local Authority, Hackney Local Authority and Kent County Council.

Investment powers and policy

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit. The Trustees have considered the most appropriate policy for investing funds and have found that cash deposits are the safest form of investment.

Future Plans and Developments

The contract with the ESFA was renewed for another year and 30 places were commissioned for the 2021/22 academic year from Tower Hamlets Local Authority, Kent County Council, Southwark Local Authority and Hackney Local Authority. 26 of these places were for Phoenix College and four for the Project Search Programme. Demand for places continues to be strong and the Trust expects that there will significant growth over the next few years, which will be supported by its reserve balances.

The Trust transferred staff from the employment by Phoenix School to the Phoenix Autism Trust at the start of September, 2022. Save for a small number of agency staff, Phoenix Autism Trust is now the sole employer of staff at Phoenix College.

The Trustees have decided that 6 months' revenue should be placed in a fixed term high interest account and the balance in a high interest easy access account as a development fund. After the year end, £500k was deposited in a reserve account and £250k in a liquidity account.

THE PHOENIX AUTISM TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

Project Search

The Project Search programme had a very successful year and participants made significant progress towards employment. The Trust will continue to grow and develop the programme and in the long term will seek to find other employers to offer work placements. There were eight students registered to take part in the Project Search programme for 2021/22, four from Phoenix School and four from Phoenix College. After moving to Phoenix Upper South during the pandemic, students moved back to the QMUL campus in January 2022. Moving back to QMUL’s campus allowed students to be closer to their work rotations and increased their interactions with their mainstream peers.

Phoenix College

The College will seek to develop its facilities to enable it to deliver its comprehensive curriculum, including vocational pathways. The curriculum team is planning an expansion of the opportunities for vocational courses, moving the curriculum towards a more tailored pathway to employment. There is also an increased focus on developing enterprise opportunities for all students.

With the increased opportunities for vocational pathways, Phoenix College plans to enhance the profile of the team delivering those programmes. Phoenix College has been investing in recruiting instructors who will deliver courses for those pathways, especially around ICT and catering.

We are also planning to develop students’ access to work placements by creating the role of Careers Lead. Having a full-time Careers Lead will allow us to meet all the Gatsby Benchmarks, improve our baseline process by introducing vocational profiles, and increase the amount of external work placements on offer. We have also planned to increase the capacity of our careers team by creating the roles of Enterprise Lead and Employment Engagement Officer.

The College will look to develop its infrastructure to meet the growing demand for post-19 places and ensure that it becomes sustainable in the long term. We offered places to 30 students in September 2021 and 40 students in September 2022. The roll will remain static for 2023 until our accommodation issues are resolved.

Charitable and political donations

During the year the company made no political or charitable donations.

Structure, governance and management

Governing document

The Phoenix Autism Trust (the word ‘Limited’ being omitted by licence from the Board of Trade) is a company limited by guarantee and not having a capital divided by shares.

The charity was incorporated on 29 May 2015. The Company was registered as a charity on 23 March 2017 under Registration Number 1172227 and the company registration number is 09615159.

Recruitment and appointment of Trustees

As set out in the Articles of Association the chair of the Trustees is nominated by the other Trustees. The directors of the organisation are also the charity Trustees for the purposes of charity law. The Board of Trustees has power to appoint additional Trustees as it sees fit.

The Trustees have no beneficial interest in the company other than as members. The Trustees are also the directors of the company. All of the Trustees are members of the company and guarantee to contribute £1 in event of winding up. The Board has the power to appoint additional directors.

Organisation

The Trustees of the charity aim to meet every three months as a Board. The Chair also meets with the College Principal and Office Manager on a regular basis.

The charity is governed by the Board of Trustees, which sets the overall framework. The College Principal and their staff team are then delegated full responsibility for implementation within this framework.

THE PHOENIX AUTISM TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

Trustee induction and training

The Trustees maintain a good working knowledge of charity and company law and best practice by regular reading of charity press articles and scrutiny of Companies House, Charity Commission, other Government and voluntary organisation advisory websites. New Trustees are given copies of the Memorandum and Articles of Association and copies of previous year’s minutes and attend an induction session given by an experienced Trustee.

Related parties

The charity works closely with other similar organisations as detailed in the achievements and performance section of the Trustees’ Report.

Following a TUPE process which allowed Phoenix College to become a fully independent college, Phoenix Autism Trust agreed to follow the same terms and conditions that employees previously had with Tower Hamlets Local Authority, including its pay policy for staff. The charity will update the pay policy at the start of the new academic year 23/24 when the new staff structure is finalized.

Risk Management

The Trustees have a risk management strategy which comprises:

THE PHOENIX AUTISM TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

Statement of Trustees' responsibilities

The Trustees, who are also the directors of The Phoenix Autism Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the Trustees are aware:

Auditor

In accordance with the company's articles, a resolution proposing that SKS Audit LLP be reappointed as auditor of the company will be put at a General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Trustees' report was approved by the Board of Trustees and signed on its behalf by:

S Harris Chair

Dated: 25 May 2023

THE PHOENIX AUTISM TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PHOENIX AUTISM TRUST

Opinion

We have audited the financial statements of The Phoenix Autism Trust (the ‘charitable company’) for the year ended 31 August 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE PHOENIX AUTISM TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE PHOENIX AUTISM TRUST

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Other matters which we require to address

The financial statements for the year ended 31 August 2021, forming the corresponding figures of the financial statements for the year ended 31 August 2022, are unaudited.

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

THE PHOENIX AUTISM TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE PHOENIX AUTISM TRUST

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Foskett (Senior Statutory Auditor) for and on behalf of SKS Audit LLP 25 May 2023

Chartered Accountants 3 Sheen Road Richmond Upon Thames TW9 1AD

THE PHOENIX AUTISM TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted
funds
Notes
£
Income from:
Charitable activities
3
1,161,369
Expenditure on:
Raising funds
4
59,399
Charitable activities
5
829,241
Total resources expended
888,640
Net income for the year/
Net movement in funds
272,729
Fund balances at 1 September 2021
903,877
Fund balances at 31 August 2022
1,176,606		 Total
2022
£
1,161,369
59,399
829,241
888,640
272,729
903,877
1,176,606		 Total
2021
£
998,318
35,663
719,496
755,159
243,159
660,718
903,877

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 13 to 21 form part of these financial statements.

THE PHOENIX AUTISM TRUST

BALANCE SHEET

AS AT 31 AUGUST 2022

Notes
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Income funds
Unrestricted funds		 2022
£
£
1,020
1,580,098
1,581,118
404,512
1,176,606
1,176,606
1,176,606		 2021
£
£
9,200
1,099,293
1,108,493
204,616
903,877
903,877
903,877		 2021
£
£
9,200
1,099,293
1,108,493
204,616
903,877
903,877
903,877
903,877
903,877

The Trustees have prepared financial statements in accordance with Section 398 of the Companies Act 2006 and Section 138 of the Charities Act 2011. These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual financial statements required by the Companies Act 2006 and are for circulation to members of the company.

The financial statements were approved by the board of directors and authorised for issue on 25 May 2023 and are signed on its behalf by:

S Harris Chair

Company Registration No. 09615159

THE PHOENIX AUTISM TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash generated from operations
15
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
480,805
-
-
480,805
1,099,293
1,580,098		 2021
£
424,408
-
-
424,408
674,885
1,099,293

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

Company information

The Phoenix Autism Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 2 Paton Close, Bow, London, E3 2QD.

1.1 Accounting convention

The financial statements of the charitable company, which is a public benefit under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The charity’s financial statements show net surplus of £272,729 (2021: £243,159) for the year and free reserves of £1,176,606 (2021: £903,877). The Trustees are of the view that these results have secured the immediate future of the charity for the next 12 to 18 months and on this basis the charity is a going concern.

1.3 Charitable funds

The general fund comprises those monies which may be used toward meeting the charitable objectives of the company at the discretion of the Management Board.

The restricted funds are monies raised for, and their use restricted to, a specific purpose or donations subject to donor-imposed conditions.

1.4 Incoming resources

All income is included in the statement of financial activities when the charity is legally entitled to it, receipt is probable, and the amount can be measured with sufficient reliability.

Grant income

Grants are credited to the statement of financial activities when the charity is entitled to the funds. Income is only deferred where there are time constraints imposed by the donor or if the funding is performance related.

Where entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met.

Grants supporting the core activities of the charity and with no specific restrictions placed upon their use are included within donations and legacies. Grants that have specific restrictions placed upon their use are included within income from charitable activities.

Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they are received or receivable. Depreciation on the related fixed assets is charged against the restricted fund.

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

Donations and legacies

Donations are recognised in the year in which they are received. Legacy income is recognised when the charity’s entitlement is judged to be probable and where the amount can be reliably measured.

Contract income

Income from charitable activities include income recognised as earned (as the related goods and services are provided) under contract.

Investment income

I nvestment income is included when receivable.

1.5 Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised (refer to the trustees’ annual report for more information about their contribution).

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the year of receipt.

1.6 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.7 Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance and administration personnel, payroll and governance costs which support the Trust’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 4.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

1.9 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.11 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.

1.12 Creditors and provisions

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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised where the revision affects only that year, or in the year of the revision and future year where the revision affects both current and future years.

3 Charitable activities

Charitable activities
Department for Work and Pensions
London Borough of Tower Hamlets
London Borough of Haringay
Education and Skills Funding Agency
Kent County Council
London Borough of Newham
Southwark Council
London Borough of Hackney
Analysis by fund
Unrestricted funds		 Total
2022
£
-
654,948
-
363,645
15,000
10,151
15,000
102,625
1,161,369
1,161,369		 Total
2021
£
1,924
510,625
7,000
384,878
-
20,302
-
73,589
998,318
998,318

4 Raising funds

Fundraising and publicity
Staff costs
Share of Governance costs
Share of support costs
Fundraising and publicity
Analysis by fund
Unrestricted funds		 Total
2022
£
15,622
1,921
41,856		 Total
2021
£
-
576
35,087
59,399 35,663
59,399 35,663

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

5 Charitable activities

Educational
Operations
£
Staff costs
591,785
Learning resource costs
39,639
Student Meals Costs
20,958
Membership and Subscriptions
1,750
654,132
Share of support costs (see note 6)
167,424
Share of governance costs (see note 6)
7,685
829,241
Analysis by fund
Unrestricted funds - general
829,241
829,241		 Total
2022
£
591,785
39,639
20,958
1,750
654,132
167,424
7,685
829,241
829,241
829,241		 Total
2021
£
519,477
41,736
13,883
1,750
576,846
140,346
2,304
719,496
719,496
719,496

6 Support costs

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between the key activities undertaken in the year. All the general support and governance costs have been apportioned to the various charitable activities on the basis of direct costs of each activity.

Staff costs
Management and administration
Insurance
Bank charges and interest
Training
Legal and professional fees
IT Costs
General expenses
Rent
Recruitment Costs
Auditor's fees
Independent examiner's fees
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
66,290
3,906
52,691
-
5,295
-
80
-
515
-
3,780
-
11,960
-
3,669
-
65,000
-
-
-
-
5,700
-
-
209,280
9,606
41,856
1,921
167,424
7,685
209,280
9,606		 Total
2022
£
70,196
52,691
5,295
80
515
3,780
11,960
3,669
65,000
-
5,700
-
218,886
43,777
175,109
218,886		 Total
2021
£
-
50,297
5,252
77
600
-
23,059
68
80,000
16,080
-
2,880
178,313
35,663
142,650
178,313

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

7
Net Income/ Expenditure for the year
Net movement in funds is stated after charging/(crediting)
Auditor's Remuneration
Audit Fees
Non Audit Fees
Independent Examiner's Remuneration
Independent Examination Fees
Other Fees		 2022
£
3,600
2,100
-
-
5,700		 2021
£
-
-
1,800
1,080
2,880

8 Analysis of staff costs, trustees' remuneration and expenses, and cost of key management personnel

The charity did not have any employees during the year.

Staff cost comprises seconded staff to the charity from Phoenix Primary and Secondary School which is then recharged to the charity. Related party details are disclosed in note 12.

No trustees received any remuneration during the year (2021 - £nil). No trustees received reimbursed expenses during the year (2021 - £nil).

The key management personnel of the charity comprise the Trustees, the Principal, office manager and external consultant. The total payments to the key management personnel of the charity were £81,892 (2021 - £66,300).

9 Debtors

Debtors
2022 2021
Amounts falling due within one year: £ £
Prepayments and accrued income 1,020 9,200

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

10 Deferred income

Deferred Income
Deferred income is included in the financial statements as follows:
Current liabilities		 2022
£
56,226
2022
£
56,226
56,226		 2021
£
39,603
2021
£
39,603
39,603

Deferred income represents the funding received from Education and Skills Funding Agency for the academic year 2022-2023.

11 Creditors: amounts falling due within one year

Notes
Deferred income
10
Trade creditors
Accruals and deferred income		 2022
£
56,226
342,586
5,700
404,512		 2021
£
39,603
162,133
2,880
204,616

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

12 Movement in funds

Balance at 1 Incoming Resources Balance at 31
September resources expended August 2022
2021
£ £ £ £
General Funds 903,877 1,161,369 (888,640) 1,176,606
903,877 1,161,369 (888,640) 1,176,606
Balance at 1 Incoming Resources Balance at 31
September resources expended August 2021
2020
£ £ £ £
General Funds 660,718 998,318 (755,159) 903,877
660,718 998,318 (755,159) 903,877

Description, nature and purpose of unrestricted funds:

General funds:

General funds represent funds available to spend at the discretion of the Trustees.

13 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fund balances at 31 August 2022 are represented by:
Current assets/(liabilities) 1,176,606 903,877
1,176,606 903,877

14 Share capital

The charitable company is limited by guarantee and does not have a share capital divided by shares.

THE PHOENIX AUTISM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

15
Cash generated from operations
Surplus for the year
Movements in working capital:
Decrease in debtors
Increase in creditors
(Decrease)/increase in deferred income
Cash generated from operations		 2022
£
272,729
8,180
199,896
-
480,805		 2021
£
243,159
10,521
131,125
39,603
424,408

16 Related party transactions

During the year £866,987 (2021: £639,917) was paid/payable to The Phoenix Primary and Secondary School for recharges of resources used where Jonathon Caunt is a governor. As at the year end balance payable to The Phoenix Primary and Secondary School amounted to £342,586 (2021: £162,133) included in trade creditors.