**REGISTERED CHARITY NUMBER: 1178032** 

## **Report of the Trustees and** 

**Unaudited Financial Statements for the Year Ended 30 April 2021** 

**for** 

**Phab Life CIO** 

Butlers Chartered Accountants Suite 6 Burley House 15 High Street Rayleigh Essex SS6 7EW 



**Phab Life CIO** 

## **Contents of the Financial Statements for the Year Ended 30 April 2021** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|9|
|**Detailed Statement of Financial Activities**|10|to|11|





**Phab Life CIO** 

## **Report of the Trustees for the Year Ended 30 April 2021** 

The trustees present their report with the financial statements of the charity for the year ended 30 April 2021. The trustees have adopted the provisions of 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** 

## **Objectives and aims** 

The Phab Charity Shop and Phabulous Café provide a training environment for people with additional needs in a real working environment. Our clients receive assistance in learning new retail or food service skills from one-to-one assistance to support being on hand when required. The charity also provides social clubs and outings for our clients, to promote confidence and build social skills. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charity Shop** 

The shop and Cafe continue to offer high quality experiences to the beneficiaries working there. 

## **FINANCIAL REVIEW** 

## **Principal funding sources** 

The charity is principally funded by income generated from sales by the Phab charity shop and Phabulous Cafe. Other funds are obtained for capital or project funding from grant providers as needed and fundraising activities. Some of the grant providers this year have been, Charles S French Charitable Trust, Clothworkers Foundation & The Screwfix Foundation. 

## **Reserves policy** 

The Trustees recognise the need to keep free reserves to protect the Charity in case of loss of income but also to allow for new opportunities as they arise. The Trustees have therefore considered their reserves policy and agreed maintaining free reserves (being general funds excluding those tied up in fixed assets or designated by the trustees) at a level of six months operating costs to ensure the Charity remains stable and viable for the future. The Charity falls slightly under this level as at the period end. 

## **FUTURE PLANS** 

After the period end the client has plans to open an additional community café in Rochford. Expected open date is subject to planning. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1178032 

## **Principal address** 

157a High Street Rayleigh Essex SS6 7QA 

## **Trustees** 

Mrs J Drewer R J Hook Trustee (appointed 1.1.2021) Ms R Seomore Trustee (appointed 15.9.2020) Ms S Howarth Trustee (appointed 1.5.2020) Ms E Burrett Trustee (appointed 1.5.2020) Ms V Neupauer Trustee B Weller Trustee 

Page 1 



**Phab Life CIO** 

## **Report of the Trustees for the Year Ended 30 April 2021** 

**REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** Butlers Chartered Accountants Suite 6 Burley House 15 High Street Rayleigh Essex SS6 7EW 

Approved by order of the board of trustees on 10 May 2022 and signed on its behalf by: 

Mrs J Drewer - Trustee 

Page 2 



## **Independent Examiner's Report to the Trustees of Phab Life CIO** 

## **Independent examiner's report to the trustees of Phab Life CIO** 

I report to the charity trustees on my examination of the accounts of Phab Life CIO (the Trust) for the year ended 30 April 2021. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the 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. 

ICAEW Butlers Chartered Accountants Suite 6 Burley House 15 High Street Rayleigh Essex SS6 7EW 

10 May 2022 

Page 3 



## **Phab Life CIO** 

## **Statement of Financial Activities for the Year Ended 30 April 2021** 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>48,474<br>**Charitable activities**<br>Phab Shop<br>20,799<br>Phab Cafe<br>4,662<br>**Total**<br>73,935<br>**EXPENDITURE ON**<br>Raising funds<br>(500)<br>**Charitable activities**<br>Phab Shop<br>52,005<br>Phab Cafe<br>158<br>**Total**<br>51,663<br>**NET INCOME**<br>22,272<br>**Transfers between funds**<br>9<br>14,442<br>**Net movement in funds**<br>36,714<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>25,207<br>**TOTAL FUNDS CARRIED FORWARD**<br>61,921|Restricted<br>funds<br>£<br>-<br>-<br>13,700<br>13,700<br>-<br>1,097<br>11,625<br>12,722<br>978<br>(14,442)<br>(13,464)<br>31,893<br>18,429|30.4.21<br>Total<br>funds<br>£<br>48,474<br>20,799<br>18,362<br>87,635<br>(500)<br>53,102<br>11,783<br>64,385<br>23,250<br>-<br>23,250<br>57,100<br>80,350|30.4.20<br>Total<br>funds<br>£<br>16,604<br>55,224<br>32,267|
|---|---|---|---|
||||104,095<br>18<br>50,568<br>374|
||||50,960|
||||53,135<br>-|
||||53,135<br>3,965|
||||57,100|



The notes form part of these financial statements 

Page 4 



## **Phab Life CIO** 

## **Balance Sheet 30 April 2021** 

||||||30.4.21|30.4.20|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total|Total|
|||fund|funds||funds|funds|
||Notes|£|£||£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|4|12,216||-|12,216|675|
|**CURRENT ASSETS**|||||||
|Stocks|5|500||-|500|-|
|Debtors|6|2,235||-|2,235|516|
|Cash at bank and in hand||50,166|18,429||68,595|57,105|
|||52,901|18,429||71,330|57,621|
|**CREDITORS**|||||||
|Amounts falling due within one year|7|(3,196)||-|(3,196)|(1,196)|
|**NET CURRENT ASSETS**||49,705|18,429||68,134|56,425|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||61,921|18,429||80,350|57,100|
|**NET ASSETS**||61,921|18,429||80,350|57,100|
|**FUNDS**|9||||||
|Unrestricted funds|||||61,921|25,207|
|Restricted funds:|||||||
|Barchester Charitable Foundation|||||-|990|
|Essex Community Foundation|||||-|5,630|
|Leigh Town Council|||||-|500|
|Rosca Trust|||||-|4,626|
|Leigh Lions|||||-|1,750|
|Fowler Smith and Jones Trust|||||-|2,000|
|Leigh on Sea Rotary Club|||||-|300|
|Garfield Weston Foundation|||||10,000|10,000|
|Co-operative Group|||||-|1,097|
|TMF Grant|||||5,000|5,000|
|Clothworkers Foundation|||||2,079|-|
|The Tudwick Foundation|||||1,350|-|
||||||18,429|31,893|
||||||||
|**TOTAL FUNDS**|||||80,350|57,100|



The financial statements were approved by the Board of Trustees and authorised for issue on 10 May 2022 and were signed on its behalf by: 

J Drewer - Trustee 

The notes form part of these financial statements 

Page 5 



**Phab Life CIO** 

## **Notes to the Financial Statements for the Year Ended 30 April 2021** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity 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 accounts 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **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 machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Hire purchase and leasing commitments** 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

## **Pension costs and other post-retirement benefits** 

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the  Statement of Financial Activities in the period to which they relate. 

Page 6 

continued... 



**Phab Life CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 30 April 2021** 

## **2. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the year ended 30 April 2020. 

## **Trustees' expenses** 

There were no  trustees' expenses paid for the year ended 30 April 2021 nor for the year ended 30 April 2020. 

## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>16,604<br>**Charitable activities**<br>Phab Shop<br>55,224<br>Phab Cafe<br>-<br>**Total**<br>71,828<br>**EXPENDITURE ON**<br>Raising funds<br>18<br>**Charitable activities**<br>Phab Shop<br>50,568<br>Phab Cafe<br>-<br>**Total**<br>50,586<br>**NET INCOME**<br>21,242<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>3,965<br>**TOTAL FUNDS CARRIED FORWARD**<br>25,207|Restricted<br>funds<br>£<br>-<br>-<br>32,267<br>32,267<br>-<br>-<br>374<br>374<br>31,893<br>-<br>31,893|Total<br>funds<br>£<br>16,604<br>55,224<br>32,267|
|---|---|---|
|||104,095<br>18<br>50,568<br>374|
|||50,960|
|||53,135<br>3,965|
|||57,100|



continued... 

Page 7 



## **Phab Life CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 30 April 2021** 

## **4. TANGIBLE FIXED ASSETS** 

|**4.**|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|---|
||||Fixtures|||
|||Plant and|and|Computer||
|||machinery|fittings|equipment|Totals|
|||£|£|£|£|
||**COST**|||||
||At 1 May 2020|96|747|-|843|
||Additions|6,773|7,172|650|14,595|
||At 30 April 2021|6,869|7,919|650|15,438|
||**DEPRECIATION**|||||
||At 1 May 2020|19|149|-|168|
||Charge for year|1,370|1,554|130|3,054|
||At 30 April 2021|1,389|1,703|130|3,222|
||**NET BOOK VALUE**|||||
||At 30 April 2021|5,480|6,216|520|12,216|
||At 30 April 2020|77|598|-|675|
|**5.**|**STOCKS**|||||
|||||30.4.21|30.4.20|
|||||£|£|
||Stocks|||500|-|
|**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||30.4.21|30.4.20|
|||||£|£|
||Prepayments and accrued income|||2,235|516|
|**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||30.4.21|30.4.20|
|||||£|£|
||Trade creditors|||1,541|-|
||Taxation and social security|||146|146|
||Other creditors|||1,509|1,050|
|||||3,196|1,196|



continued... 

Page 8 



**Phab Life CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 30 April 2021** 

## **8. LEASING AGREEMENTS** 

Minimum lease payments under non-cancellable operating leases fall due as follows: 

||30.4.21||30.4.20|
|---|---|---|---|
||£||£|
|Between one and five years||-|4,583|



4 year lease as of June 2020. 

## **9. MOVEMENT IN FUNDS** 

All restricted funds above are held for the setup and initial launch period of the Phab Cafe to launch summer 2021. 

## **10. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 30 April 2021. 

Page 9 



## **Phab Life CIO** 

## **Detailed Statement of Financial Activities for the Year Ended 30 April 2021** 

||30.4.21|30.4.20|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Fundraising Income|2,652|833|
|Gift aid|1,710|2,100|
|Grants|42,360|-|
|Donations received|1,752|13,671|
||48,474|16,604|
|**Charitable activities**|||
|Shop takings|20,799|45,124|
|Cafe Takings|4,662|-|
|Grants|13,700|42,367|
||39,161|87,491|
|**Total incoming resources**|87,635|104,095|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Selling fees|-|18|
|**Other trading activities**|||
|Closing stock|(500)|-|
|**Charitable activities**|||
|Wages|28,027|28,038|
|Pensions|260|239|
|Rent|7,433|11,415|
|Rates and water|-|1,517|
|Insurance|914|866|
|Light and heat|1,485|1,768|
|Telephone|533|385|
|Postage and stationery|999|281|
|Advertising|105|-|
|Training|112|103|
|Social and reward events|153|1,243|
|Computer Expenses|2,549|1,777|
|Waste Disposal|1,199|1,205|
|Gifts|-|116|
|Subscriptions|-|30|
|Clothing Costs|50|288|
|Repairs & Renewals|3,998|292|
|Cleaning|47|-|
|Cafe Consumables|4,874|-|
|Cafe Repairs & Maintenance|6,264|-|
|Cafe Cleaning|126|-|
|Carried forward|59,128|49,563|



This page does not form part of the statutory financial statements 

Page 10 



## **Phab Life CIO** 

||**Detailed Statement of Financial Activities**|||
|---|---|---|---|
||**for the Year Ended 30 April 2021**|||
|||30.4.21|30.4.20|
|||£|£|
|**Charitable activities**||||
|Brought forward||59,128|49,563|
|Cafe Computer Costs||469|-|
|||59,597|49,563|
|**Support costs**||||
|**Finance**||||
|Bank charges||632|361|
|Plant and machinery||1,370|19|
|Fixtures and fittings||1,554|149|
|Computer equipment||130|-|
|||3,686|529|
|**Governance costs**||||
|Accountancy and legal fees||1,122|850|
|Furlough costs||480|-|
|||1,602|850|
|Total resources expended||64,385|50,960|
|**Net income**||23,250|53,135|



This page does not form part of the statutory financial statements 

Page 11