2024-03-31-accounts - Philadelphia Association Limited

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REGISTERED CHARITY NUMBER: 242475

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Philadelphia Association Limited

Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR

Philadelphia Association Limited

Contents of the Financial Statements for the Year Ended 31 March 2024

		Page
Report of the Trustees	1	to	7
Independent Examiner's Report		8
Statement of Financial Activities		9
Balance Sheet		10
Notes to the Financial Statements	11	to	18
Detailed Statement of Financial Activities	19	to	20

Philadelphia Association Limited

Report of the Trustees

for the Year Ended 31 March 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and activities

The Philadelphia Association was registered as a charity in 1965 with the original object of:

(A) Relieving mental distress of all descriptions; and

(B) Providing residential accommodation for people suffering or who have suffered such mental distress.

The current activities of the Association include:

The support of two community houses, both owned by the Association;
A low-cost psychotherapy referral service;
A training programme in psychotherapy (accredited through the College of Psychoanalysis and Jungian Analysis of the UK Council for Psychotherapy). A study programme currently comprising a one-year Introductory Course in Philosophy and Psychotherapy and a new one-year Experiential Course in Community and Psychotherapy; a Diploma Course in Community and Psychotherapy and an Online Course: Introduction to Community, Philosophy and Psychotherapy (Theory and Practise):
A quarterly newsletter;
Occasional lectures, seminars and conferences.

The Trustees are satisfied that both the activities of the Association and its current priorities are helping it to meet the objectives outlined in our governing documentation and that it has had suitable regard to the Charity Commission's public benefit guidance.

Page 1

Philadelphia Association Limited

Report of the Trustees

for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE

Considerable work has been done this year in maintaining the two houses both internal and external work has been carried out. As last year, the Affordable Therapy Service continues to attract those seeking therapy at a lower fee. The continued success of this service has, as expected, thrown up challenges regarding onward referral to clinicians. One being that not everyone always has spaces and the second being that clinicians may not always be able to take on any more low-cost patients. Fuad (PA member) who is also on the CofM is the current chair of the Affordable Therapy Service and continues to be successful with maintaining the smooth flowing of referrals. Funding has been secured for a 12-month period that enables therapists to see clients who may not otherwise have an opportunity to access therapy.

Marty's Yard has welcomed Josh this year who is now the office administrator whilst Sophia has changed roles to focusing on the houses whilst keeping her position in finance manager.

Sophia (previous office administrator) has made Marty's Yard feel far more lived in by adding plants and nik-naks which she has added to the building which gives the place a better sense of being taken care of. We have not engaged 2 young people for work experience activities around the building this last year but we hope to continue with this practice in the future.

CofM (Council of Management) meetings are again now predominantly in- person meetings whilst the finance and trustee meetings continue online. The chair of trustees together with Steven (trustee) meet approx. every six weeks with the Treasurer (Andreas) for a finance meeting as well as all the chairs attempting to meet on a regular basis, meeting to discuss any issues that may arise in the organisation. The board of trustees also attempt to hold a joint meeting with CofM twice a year.

The financial standing of the PA continues to be strong with a healthy up-take for all the training courses on offer. The new online course that the PA has set up which enables those not living in London to undertake a PA training continues to be successful as well as the introductory and community courses. There has also been a healthy up-take for the PA training course with an increase this year of applicants. As stated in last year's report, well respected organisations like Arbours, Westminster Pastoral Foundation and Maytree having to close their doors or struggling to survive, is evidence that the PA is doing something right in maintaining its healthy position in what continues to be difficult and challenging times for many. The two houses continue to maintain the minimum occupancy rate with the hope of more prospective people joining. The Grove currently has 5 residents and the Freegrove has 5 residents. The House Therapists are again continuing working in the Houses after a period of working on-line during the covid lockdown. Our intentions to hold some trustee meetings in the houses has been difficult to arrange as understandably residents may not always welcome such a meeting taking place in what is their home.

The House therapists' fees have been increased to bring them up to date with other paid activities within the PA and membership fees were increased.

We continue to attempt to improve communication between CofM (Council of Management) and trustees and have agreed in principle to hold joint CofM (Council of Management)/Trustee meetings more frequently. We would like to acknowledge the considerable voluntary work that some members offer to the continued running of the PA, the houses, the training committees, affordable therapy service, ethos meetings and we continue to hope that more members can make some time to offer their services in some way to the PA by filling some of the committee vacancies, this would alleviate some of the burden that the few members involved in the smooth running of the organisation are having to bear. A recent survey was sent out in order to think about how we could make joining a committee more attractive.

Again, I would like to thank my colleagues on the board, Steven, Morag, Nick, Lois, Joachim and Lakis who continue to volunteer their time (which can be considerable at times) and energy into the overseeing of the organisation. Being a trustee is not an easy activity and can be a thankless task to fulfil but we endeavour to support the organisation and its members as a whole as best we can without wanting to interfere too much with the functioning of the CofM (Council of Management) who are responsible for the day to day running of the PA.

And lastly but certainly not least a thank you to Josh (Office Administrator) for grappling with the complexities of manning the office.

Mark Elmer, Chair of Trustees

1. The Houses

( a) The Grove

The Grove currently provides a home for six people and one cat. This year the partition wall that created two bedrooms from the large ground floor front room was removed. This was to meet HMO requirements and to improve living conditions for the current occupier. Over the years residents have struggled with the fragile boundary between the two rooms, lack of sound proofing and space. There is currently one room available.

We created a paid apprentice house therapist role which offers a unique opportunity to work & learn about oneself in a community situation alongside residents and house therapists. The residents are currently working on a 'houses handbook' which will offer clarity and information about the rules of involvement and residency.

Amy Ison left her role as house therapist in September 2024 after three and a bit years. In her words: "It is an amazing community. There's such a deep commitment to an ongoing process by residents and house therapists - that accommodates the everyday business of living with space for creativity in thinking and feeling about living" .

Thank you, Amy, for your commitment and we hope you will remain a friend of the Grove and involved in some capacity. The current house therapists are Alia Butt, Andrea Heath & Lily Patten, who each co facilitate two house meetings a week.

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Philadelphia Association Limited

Report of the Trustees

for the Year Ended 31 March 2024

Community gardener Cat Stevens assisted residents with general gardening maintenance work. We spent a day working at the back, pruning the large Bay tree, raising its canopy to allow more light into the garden. We removed a weight of vegetation from the wall and created wildlife friendly dead hedges with the cuttings. A second day of gardening concentrated on the front garden, clearing away vegetation from around the porch and front entrance of the Grove. There is further work to do on the front garden planned for 2025.

Two residents are currently supporting the charity by offering their knowledge and skills in the design & administration of the PA Study Programme and archiving PA historical documents.

Thank you to Ian McMillan, Sophia Raja and Danny Arno for house management, supervision and maintenance support and to CofM for supporting the ethos. Finally, a big thank you to Andrea Heath for her continued commitment and dedication to the house.

( b) Freegrove

Over the past year, Freegrove has said goodbye to two residents and has welcomed two new ones. We currently have five residents in the house.

One of the residents has been commissioned by the PA to produce a series of art works for Marty's Yard on the theme of Insomnia. Sophia Raja was instrumental in motivating and agreeing with the resident where the works will be displayed in Marty's Yard and supplying the resident with materials. The project is well underway and the resident has regularly shared progress with her fellow residents and the therapists.

Another resident benefitted from the new bursary scheme that the PA set up and has undertaken a creative writing course at the City Lit. The course has nearly ended and it has given the resident confidence in being with others which seems to have fostered new thoughts of volunteering and exploring a way into work. The resident has shared pieces they have written with the group and all the residents have been involved in thinking about ideas for his course work and future short stories or novels.

We have a resident who is a very proficient piano player though has not played in many years - he has recently begun to play on the Freegrove piano which, although recently tuned has not been played for quite some time. In a recent meeting he played a Chopin piece from memory which was lovely to hear. He will sometimes practice piano and other residents have said how good it can be to hear the music filling the house.

Freegrove would like to thank Jack Pepper for his contribution on his 6 months placement. He added much to the meetings and his love of music was well received and engaged with by the residents.

Freegrove would also like to thank Sophia Raja for her continued support and care for the house. We've set up a separate WhatsApp group with the residents and Sophia and they are able to directly talk to her about practical issues as they come up - she's very responsive and helpful which is much appreciated.

The Council of Management would like to thank all of the House Therapists, at The Grove; Andrea Heath, Amy Ison, Lily Patten & Alia Butt, and at Freegrove ;Nina Shores and Kay Holmes.

2. Referral Service

In February 2024 Kay Holmes join the referral committee.

Referral consultations continue to mainly be conducted online or in person. There were 142 referrals received during January to October 2024 with 43 assessment consultations completed and all successfully referred on to PA therapist or PA trainees. The majority of referrals being signed posted to members at the average fee of £50-

£60 and to trainees for £20. See below for breakdown on demographic and gender.

Total referrals	142
Female	82
Male	50
Non binary	4
Trans woman	1
Did not state	5
Table 1

Table 2

Table 2
Ethnicity total	142
Black Caribbean	5
Black British	2
British Indian	1
British Chilean	1
White British	70
London	27

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Philadelphia Association Limited

Report of the Trustees for the Year Ended 31 March 2024

Black African	2
Black	1
Japanese	1
Mixed White English and Black	1
Thai/New Zealand	1
Asian - Indian	5
British South Indian/Asian	2
Jewish	1
White Hispanic	1
British Pakistani	1
White Arab	1
South African - Indian	1
White Irish	3
Somalian	1
Spanish	1
British Korean	1
Chinese	1
Not stated	11

In the summer of 2024, the low-cost therapy service pilot was launched through funding by the PA which aims to supports access for those needed to see a qualified PA therapist who are unable to afford a full fee. There are currently 4 people receiving therapy through the low-cost therapy pilot. The current offer is 1 year of psychotherapy with funding made available to offer 8 places in total. The plan going forward is to explore other funding sources to support the continuation of this provision.

The Council of Management would like to thank Fuad Buraimoh, Kay Holmes and Andreas Constandinos for all their hard work in running and developing the referral service.

3. The Training

The Psychotherapy training has been going from strength to strength. There are currently 18 people on the training. Kit Zinovieff has just passed her viva, and her Public Pass presentation will be coming up soon. One trainee has also had to take a year our due to ill health. We are therefore able to take two people from our waiting list, to start in January and take us up to our maximum of twenty. That will leave one more person on the waiting list. We would hope that they would be able to join after Easter as a number of other trainees are just in the process of submitting their Pass papers.

The increase in numbers on the training is, we think, mainly down to the success of the other PA courses, which then feed into the training. We are going to have to think creatively about how to deal with this in the future. Feedback from both trainees and seminar leaders has been overwhelmingly positive.

There is a good, supportive and curious atmosphere in the group.

We continue to offer bursaries of one term's fees to trainees who experience financial difficulties.

In addition, we are in preliminary discussions with other members of the Consortium about reinstituting our collaboration around a trainee conference and clinical presentations

Finally, we are aware that the UKCP Quinquennial Review will be taking place next year and are beginning the process of reviewing our policies and procedures, and revising the Trainee Handbook.

The Council of Management would like to thank Jake Osbourne, Lakis Georghiou, Elie Jesner, James Mann, Fliss Cadbury. Alison Davies and Miles Clapham for all their hard work.

4. The PA Study Programme

The PA Study Programme is coordinated by Lucy King & Andrea Heath who organise three one-year courses and a series of Saturday morning online seminars. The Study Programme serves as both certificate/CPD courses as well an introduction to the Philadelphia Association.

The courses are; Introductory Course in Philosophy and Psychotherapy, Diploma in Community & Psychotherapy, Online Course in Community, Philosophy and Psychotherapy.

Despite not advertising outside of the PA network, students from diverse social, cultural and economic backgrounds join and contribute to the thoughtful and creative conversations. It is encouraging even inspiring that the PA attracts such an impressive and wide range of interesting people finding their way to these courses and we continue to receive interest from students living both inside and outside of the UK. We would like to thank Emma Stoker & Jeremy Cutler, James Mann and Laura Lauberte and Paul Atkinson and Nicola Saunders for facilitating the weekly regular groups and seminar leaders.

We are committed to offering a number of student bursaries, or alternative ways to meet course costs for those struggling with economic hardship.

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Philadelphia Association Limited

Report of the Trustees

for the Year Ended 31 March 2024

The Council of Management would like to thank Andrea Heath and Luch King for all their hard work in putting together our excellent study programme.

5. Further Contributions:

(i) Emma Stroker

Emma is currently serving her 4th year as Honorary Secretary on the Council of Management - the 1st year of her second term. The role of Honorary Secretary is to support the Co-Chairs and uphold the constitution which is informed by the Memorandum of Association. As well as this she also sits on the CPJA Ethics Committee and tries to keep abreast of new initiatives, for example ScopEd. Part of this work is to review ethical documents for different organisations.

Emma co-facilitates the experiential group for the on-line Introductory Course in Community, Philosophy and Psychotherapy with Jeremy Cutler. This course enables people from around the world to learn about the Philadelphia Association. She also sits on the Study Programme committee and assists with the administration of the Online course.

Emma teaches on the in-person Introductory Course in Philosophy and Psychotherapy, Diploma Course in Community and Psychotherapy and on the Psychoanalytic Psychotherapy training.

(ii) Sophia Raja

This year the organisation finds itself in a healthy financial position. This was a major achievement as many charities struggled to recover after Covid. We applied for 2 funding grants for a new kitchen for Freegrove; 1 was successful and awarded £5000 which will be reflected in 24-25 figures.

An A-level student who had an interest in the PA completed a week-long work experience in July. She had a fantastic time and thanked all the staff for their support and guidance.

While tidying the office I came across letters written to the organisation from people sharing their personal stories from the 1960s onwards. Realising the importance of preserving this history, with the help from the grove resident he started digitising the letters to ensure they are not lost.

In the autumn, we put together a maintenance plan for Freegrove which included fixing the rear repointing, roof, guttering and painting the communal areas. The internal paint work was carried out in this financial year. The internal painting was well received by the residents. The house therapist donated some furniture for the living room which instantly brightened the living room. We also dealt with the ongoing leak at Marty's Yard. The issue was a gully that needs to be cleared of debris. Overall, there was a lot of progress this year; improving the buildings, not making a loss, securing funding and preserving history.

The Council of Management would like to thank both Emma and Sophia for their invaluable contribution to the organisation.

Finally, thank you to our colleagues on the Council of Management, Emma Stroker, Fuad Buraimoh. Together with Josh Foyster and Sophia Raja, we oversee all aspects of the day to day running of the organisation which demands an ongoing commitment and many hours of work every week. Seeing the organisation with a thriving referral service, training, houses and study programme, alongside the financial health of the PA makes it all worthwhile.

Ian McMillan and Andreas Constandinos, Co-Chairs

FINANCIAL REVIEW

In the year ending March 31st, 2024, the Association generated a net income on funds of £8,874 ( compared to a deficit of £2,977 in the previous year) on an income of £225,528.

Reserves policy

The Association has a major maintenance fund and a general fund. The level of the general fund has been set at six months' costs, which at the current level of expenditure is about £105,000, general reserves amounted to £400,211 at 31 March 2024. The trustees feel that additional funds are required to be held to cover future potential deficits.The level of the major maintenance fund is three years' expected expenditure, or £90,000.

The basis and level of the reserve funds will be reviewed in the coming year (and thereafter on an annual basis) and will be approved by both the Council of Management and the Trustees.

Investment policy

The Association's policy is to generate a market level of interest from its reserves by putting surplus funds on deposit.

£10,289 interest was earned (last year: £3,598) from the Association's CCLA Charities Deposit Account.

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Philadelphia Association Limited

Report of the Trustees

for the Year Ended 31 March 2024

FUTURE PLANS

Looking to the future, the Trustees' priorities are to assist the Council of Management in making the most effective use of the Association's resources, to encourage new ideas, and to provide a framework for stability and growth.

We would like to offer many thanks to Peter Upton as Independent Examiner.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Association is governed by its Memorandum and Articles of Association, supplemented by its bye laws.

The governance of the Association is in the hands of its Trustees, the majority of whom are not members of the Association. The Trustees are co-opted by the Trustees and (re-)elected by Members of the Association at each Annual General Meeting.

The day-to-day management of the Association is carried out by the Council of Management, which is elected by the membership of the Association.

Much of the work of the Association is carried out through committees, which report to, and are also represented on, the Council of Management.

The Association does not have any related charitable body or other entity of any kind. It is a member of the United Kingdom Council for Psychotherapy, by whom its psychotherapy training programme is validated and with which its therapists are registered.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

00845037 (England and Wales)

Registered Charity number

242475

Registered office

4 Marty's yard 17 Hampstead High Street London NW3 1QW

Trustees

During the year under review the Trustees of the Philadelphia Association Limited were:

Mark Elmer (Counsellor/psychotherapist elected 2008; Chair since 2017) Morag Cleland (Therapist elected 2015) Steven Bluestone (Accountant; elected pre-2008) Lois Colling (Psychiatrist; co-opted 2017) Joachim Richter (Legal Knowledge & Information Manager: co-opted 2019) Nick Duffell (joined November 2021) Lakis Georghiou (PA member; joined October 2022)

Council of Management

As of March 2024, the members of the Council are:

Andreas Constantinos (Co-opted 2018; Treasurer and Co-Chair since 2020) Ian McMillen (Co-opted 2020: Co-Chair) Emma Stroker (co-opted 2019, Honorary Secretary) Faud Buraimoh (co-opted 2023, Chair of Referrals Service)

Independent Examiner

Peter Upton FCA CTA Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR

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Philadelphia Association Limited

Report of the Trustees

for the Year Ended 31 March 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Bankers

Metro Bank 1 Southampton Row London WC1B 5HA COIF Charities Deposit Fund St Alphage House 2 Fore Street London EC2Y 5DA Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................................ M C Elmer - Trustee

Page 7

Independent Examiner's Report to the Trustees of Philadelphia Association Limited

Independent examiner's report to the trustees of Philadelphia Association Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Peter Upton FCA CTA

Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR

Date: .............................................

Page 8

Philadelphia Association Limited

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 6,775 Charitable activities 5 Income from therapeutic communities 124,237 Study programmes and conferences 45,396 Other income - Other trading activities 3 38,831 Investment income 4 10,289 Total 225,528 EXPENDITURE ON Charitable activities 6 Income from therapeutic communities 5,937 Community expenditure 210,717 Total 216,654 NET INCOME/(EXPENDITURE) 8,874 RECONCILIATION OF FUNDS Total funds brought forward 391,337 TOTAL FUNDS CARRIED FORWARD 400,211	Restricted funds £ - - - - - - - - 3,690 3,690 (3,690) 358,111 354,421	31.3.24 31.3.23 Total Total funds funds £ £ 6,775 6,116 124,237 103,537 45,396 48,185 - 35 38,831 31,896 10,289 3,598 225,528 193,367 5,937 7,560 214,407 188,784 220,344 196,344 5,184 (2,977) 749,448 752,427 754,632 749,450

The notes form part of these financial statements

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Philadelphia Association Limited (Registered number: 00845037)

Balance Sheet

31 March 2024

Notes FIXED ASSETS Tangible assets 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS	31.3.24 £ 406,342 29,126 328,499 357,625 (9,335) 348,290 754,632 754,632 400,211 354,421 754,632	31.3.23 £ 416,306 23,393 316,322 339,715 (6,571) 333,144 749,450 749,450 391,339 358,111 749,450

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

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

.............................................

M C Elmer - Trustee

The notes form part of these financial statements

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Philadelphia Association Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019. (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Philadelphia Association Limited 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 note(s).

Preparation of the accounts on a going concern basis

Having considered future budgets and cash flows, the trustees confirm that they have no material uncertainties about the entity's ability to continue as a going concern for the foreseeable future

Cash Flow statement

The Trustees have taken advantage of the provisions of FRS102 (SORP2015) for smaller charities and have chosen not to prepare a cash flow statement

Income

This comprises fees receivable from the various House activities and investment 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 can be measured reliably.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy with the title of the asset having been transferred to the charity.

Investment income is credited to income when it is receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Income from government and other grants, whether 'capital' or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Expenditure

Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably.

Expenditure is recognised on an accruals basis as a liability is incurred, inclusive of VAT, which cannot be recovered.

Charitable activities comprise mainly of the provision of accommodation including welfare and catering, premises and administrative costs.

Support costs have been allocated to charitable activities. Governance activities comprise organisational administration and compliance with constitutional and statutory requirements. Costs include direct costs of external audit, legal fees and other professional advice.

Tangible fixed assets

In line with the requirements of the Accounting Standard, FRS 102, expenditure on fixed assets is capitalised where the cost (or the value if donated) is in excess of £5,000; otherwise it is written off through the Statement of Financial Activities. Costs of replacements of major equipment and pianos are charged to designated funds set aside for that purpose by appropriations from Revenue.

Tangible fixed assets are depreciated at rates calculated to write off the cost, less estimated residual value of each asset evenly over its expected life, as follows:-

Long leasehold improvements - 2% per annum Furniture, fittings and equipment - 33 1/3% per annum Plant - 10% per annum

continued...

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Philadelphia Association Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Tangible fixed assets Taxation

The charity is exempt from corporation tax on its charitable activities.

VAT

The charity is registered for VAT but is unable to reclaim all of the input tax incurred. Irrecoverable VAT is charged to the expenditure heading for which it was incurred.

Fund accounting

The different funds are defined as follows:

Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.

Unrestricted funds are those funds available to the charity for its general purposes. They include funds designated (Note 6) by the trustees for particular purposes where their use remains at the discretion of the trustees. Amounts may be set aside each year on the basis of expected requirements for major repairs to premises, replacement of major equipment and pianos for use by resident students. A transfer is made from General to Designated Funds and the cost of the repairs or replacements are charged against the fund as they arise.

It is the policy of the trustees to retain in unrestricted funds, amounts which in their judgement, can help to mitigate the short term effects of income volatility and retain funds to generate sufficient income to meet current and future operational activities of the charity.

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.

Cash at bank and in hand

Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short maturity of three months or less from the date of aquisition or opening of the deposit or similar account.

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.

Investment gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and the opening market value (or purchased date if later).

Investments

Investments are a form of basic financial instrument. They are initially recognised at their transaction value and subsequently valued at their fair value at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Pension scheme

A Stakeholder Pension Scheme is in place now for all staff and is administered by NEST

Finance leases

Assets obtained under finance leases are capitalised as tangible fixed assets. These assets are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charges allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligations outstanding in each period.

continued...

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Philadelphia Association Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Estimation uncertainty

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

2. DONATIONS AND LEGACIES

Donations Subscriptions 3. OTHER TRADING ACTIVITIES Rents receivable 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Therapeutic community rents Income from therapeutic communities Study programmes and conferences Study programmes and conferences Introductory course and other fees Study programmes and conferences Other income Other income 6. CHARITABLE ACTIVITIES COSTS Community expenditure Direct costs Support costs (see note 7) Totals		31.3.24 £ - 6,775 6,775 31.3.24 £ 38,831 31.3.24 £ 10,289 31.3.24 £ 124,237 27,404 17,992 - 169,633		31.3.23 £ 760 5,356 6,116 31.3.23 £ 31,896 31.3.23 £ 3,598 31.3.23 £ 103,537 27,096 21,089 35 151,757
		31.3.22		31.3.21
		£		£
		132,309		97,155
		64,470		59,199


		196,779		156,354

Premises and staff/supervisory costs are allocated directly to the relevant charitable activities where appropriate. Remaining staff, premises and other support costs are included for the purposes of providing a base for all activities and the trustees do not consider it practical to apportion these costs between the main charitable activities.

continued...

Page 13

Philadelphia Association Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

7. SUPPORT COSTS

Community expenditure	31.3.23	31.3.22
	£	£
Management	61,672	73,682
Governance costs	2,798	2,995
	64,470	76,677
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
	31.3.24	31.3.23
	£	£
Depreciation - owned assets	10,042	10,138

8. NET INCOME/(EXPENDITURE)

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

10. STAFF COSTS

The average monthly number of employees during the year was as follows:

Administration staff No employees received emoluments in excess of £60,000.	31.3.24 1	31.3.23 2
Administration staff	31.3.24	31.3.23
	£	£
Gross pay	36,421	35,549
National Insurance	3,771	3,162
Pension	889	786

Totals	41,081	39,497

Key management personnel are the Trustees and the Council of Management, who received no remuneration for their services.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	6,116	-	6,116
Charitable activities
Income from therapeutic communities	103,537	-	103,537
Study programmes and conferences	48,185	-	48,185
Other income	35	-	35
Other trading activities	31,896	-	31,896
Investment income	3,598	-	3,598

continued...

Page 14

Philadelphia Association Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Total EXPENDITURE ON Charitable activities Income from therapeutic communities Community expenditure Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12. TANGIBLE FIXED ASSETS COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023	Freehold property £ 667,812 78 667,890 274,771 8,611 283,382 384,508 393,041	Unrestricted Restricted funds funds £ £ 193,367 - 7,560 - 182,113 6,671 189,673 6,671 3,694 (6,671) 387,645 364,782 391,339 358,111 Fixtures and Computer fittings equipment £ £ 79,991 6,595 - - 79,991 6,595 57,007 6,314 1,314 117 58,321 6,431 21,670 164 22,984 281	Total funds £ 193,367 7,560 188,784 196,344 (2,977) 752,427 749,450 Totals £ 754,398 78 754,476 338,092 10,042 348,134 406,342 416,306

Freehold land valued at £237,335 included in Freehold properties above has not been depreciated.

The freehold properties, furniture, fixtures and equipment are all used directly for charitable purposes, the remaining assets are used mainly for charitable purposes but are also used in the management and administration of the charity.

The trustees are of the opinion that the freehold properties have a current value in excess of the book cost however it is considered that to obtain a valuation for the properties is too costly.

Page 15

continued...

Philadelphia Association Limited

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors Prepayments and accrued income 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Pension control Other creditors Accruals and deferred income 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted funds £ Fixed assets 55,188 Current assets 354,358 Current liabilities (9,335) 400,211 Comparative for analysis of net assets Unrestricted funds £ Fixed assets 63,863 Current assets 396,204 Current liabilities (14,438) 445,629			31.3.23 £ 19,659 3,734 23,393 31.3.23 £ - 165 720 5,686 6,571 31.3.23 Total funds £ 416,306 339,715 (6,571) 749,450
		31.3.21	31.3.20
Unrestricted	Restricted	Total	Total
funds	funds	funds	funds
£	£	£	£
63,863	371,168	435,031	445,359
396,204	541	396,745	387,822
(14,438)	-	(14,438 )	(11,192 )


445,629	371,709	817,338	821,989

16. MOVEMENT IN FUNDS

Unrestricted funds General Fund The Grove Community Fund Fixed Asset Fund Maintenance Fund Development Fund Restricted funds Capital Reserve TOTAL FUNDS	At 1.4.23 £ 237,082 22,616 36,639 90,000 5,000 391,337 358,111 749,448	Net movement in funds £ 15,226 (32) (6,320) - - 8,874 (3,690) 5,184	At 31.3.24 £ 252,308 22,584 30,319 90,000 5,000
			400,211 354,421
			754,632

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continued...

Philadelphia Association Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General Fund The Grove Community Fund Fixed Asset Fund Restricted funds Capital Reserve TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General Fund The Grove Community Fund Fixed Asset Fund Maintenance Fund Development Fund Restricted funds Capital Reserve TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General Fund The Grove Community Fund Fixed Asset Fund Restricted funds Capital Reserve TOTAL FUNDS	Incoming resources £ 225,528 - - 225,528 - 225,528 At 1.4.22 £ 233,390 22,616 36,639 90,000 5,000 387,645 364,782 752,427 Incoming resources £ 193,367 - - 193,367 - 193,367	Resources Movement expended in funds £ £ (210,302) 15,226 (32) (32) (6,320) (6,320) (216,654) 8,874 (3,690) (3,690) (220,344) 5,184 Net movement At in funds 31.3.23 £ £ 7,161 240,551 (1,601) 21,015 (1,866) 34,773 - 90,000 - 5,000 3,694 391,339 (6,671) 358,111 (2,977) 749,450 Resources Movement expended in funds £ £ (186,206) 7,161 (1,601) (1,601) (1,866) (1,866) (189,673) 3,694 (6,671) (6,671) (196,344) (2,977)

Designated funds

The Grove Community Fund mainly consists of a rebuilding fund. The rebuilding work was completed in 1998 at a cost of £64,096.

continued...

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Philadelphia Association Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. MOVEMENT IN FUNDS - continued

The Fixed Asset Fund identifies those funds that are not free funds and it represents the net book value of tangible fixed assets other than those included in other designated funds and the Capital Reserve.

Two other funds have been designated by the Trustees. One is for long term property maintenance and the other for immediate development projects.

Restricted funds

The restricted funds of the charity consist of funds received from specific fund raising ventures which have subsequently been used for the purchase of the freehold properties of the charity or other purposes.

The Capital Reserve consists of funds raised for the purchase and maintenance of freehold properties of the charity.

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024 or 31 March 2023.

Page 18

Philadelphia Association Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Detailed Statement of Financial Activities for the Year Ended 31 March 2024
	31.3.24	31.3.23
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	-	760
Subscriptions	6,775	5,356
	6,775	6,116
Other trading activities
Rents receivable	38,831	31,896
Investment income
Deposit account interest	10,289	3,598
Charitable activities
Therapeutic community rents	124,237	103,537
Study programmes and conferences	27,404	27,096
Introductory course and other fees	17,992	21,089
Other income	-	35
	169,633	151,757
Total incoming resources	225,528	193,367
EXPENDITURE
Charitable activities
Rates and water	7,357	6,425
Light and heat	10,603	9,376
Telephone	2,226	2,448
Postage and stationery	1,710	757
Maintenance	17,572	9,118
Training	18,814	19,732
House and therapist administration	8,131	7,830
Independent therapy	4,095	3,048
House meetings and support	44,362	44,586
Licences	318	1,800
Event costs	386	143
Cleaning and sundry expenses	5,884	8,656
Honoraria and tutorials	19,290	11,574
Promotions & publicity	-	365
Building Communities NL costs	-	200
Freehold property	6,235	6,251
	146,983	132,309
Support costs
Management
Rates and water	6,965	5,530
Insurance	7,557	6,590
Light and heat	4,034	3,183
Computers	404	180
Administration	38,942	36,905
Repairs	5,828	3,964
Travel	139	464
Carried forward	63,869	56,816

This page does not form part of the statutory financial statements

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Philadelphia Association Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Detailed Statement of Financial Activities for the Year Ended 31 March 2024
	31.3.24	31.3.23
	£	£
Management
Brought forward	63,869	56,816
Library	2,308	534
Freehold property	3,690	3,689
Fixtures and fittings	117	198
	69,984	61,237
Governance costs
Independent examiner	3,017	2,413
Bank charges	360	385
	3,377	2,798
Total resources expended	220,344	196,344
Net income/(expenditure)	5,184	(2,977)

This page does not form part of the statutory financial statements

Page 20