Registered Charity No: 304179 PHOENIX YOUTH CENTRE ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024
PHOENIXYOUTH CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Trustees CSubs for Young People (Northampton} Mrs E Bedford - President and Honorary Secretsry Mr J Boyes- Chairman Mr J Spires - Treasurer Mrs L Cranham Secretary Mrs E Bedford Registered Address Phoenix Youth Centre Ashby Road Daventry Northants NN11 OQE Charlty Number 304179 Bankers: HSBC Accountants D A Roberts Ac£ountancy servIs Limited Chartered Accountants 41 Newbury Drive Daventy Northants NN11 OWQ Page 1
PHOENIX YOUTH CENTRE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CONTENTS PAGE Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements 8-10 Detailed Ststement of Financial Activities 11-12 Page 2
PHOENIX YOUTH CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The trustees present their report and accounts for ihe year ended 31 March 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The charity is governed by its Constitution which was adopted on 12 April 1962. and amended in April 2005, June 2006. June 2015, July 2016 and January 2022. Appointment of Trustees Trustees shall be elected by the Membership of the Charity at the Annual General Meeting. Objects To help young people through their leisure time activities so to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of lrfe may be improved. Public Benefft In planning our activities for the year we kept in mind the Charity Commission's guidance on public benefrt at our trustee meetings. The focus of our activities remains a programme of youth orientated events and activities. This benefits young people by developing their self-¢onfidence, social and lrfe skills. We welcome all young people regardless of personal background. faith, gender or personal circumstances and we believe this philosophy of openness to all enriches everyone through the sharing of the skills. aptitudes and lrfe experiences of our young people. ACHIEVEMENTS AND PERFORMANCE Flnancial Review The Accounts have been prepared in accordance with the Charities SORP (FRS 102). This year the Accounts have again been prepad on an accruals basis. by the inclusion of debtors and creditors at the year end. This method of accounting prcrfjuces a set of Accounts that show the full financial position of the Charity at the year end. The Accounts show a profit for the year of £19,500 {2023 - £26,091). giwng total funds carried forward of £167,768 (2023 - £148,268). The Centre is making a strong recovery. following the COVID restrictions. Page 3
PHOENIX YOUTH CENTRE STATEMENT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The Constitution requires Accounts to be prepared by the Trustees for each financial year, which show a true and fair view of the stste of affairs of the Charity as at the end of the financial year and of the surplus or deficit of the Charity for that period. In preparing those accounts. the Trustees are required to: select suitable accounting lIcIeS and then apply them consistently. make judgements and estimates that are asOnable and prudent: follow applicable accounting standards. subject to any material departures being disclosed and explained in the accounts" prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities. The Trustees are responsible for keeping proper accounting records which disclose, wth reasonable accuracy, at any time, the financial position of the Charity and to enable them to ensure that financial ststements comply with the Charities SORP {FRS 102). They are also responsible for safeguarding the assets of the Charity and. hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities. CHAIRMAN'S REPORT I would like to thank Marie and all of the DPSA staff for all of their hard work, commitment and resilience over the past year. My assessment of the current position is one of continued optimism. Marie and her team should be congratulated on delivertng such a high quality programme, so consistently and wrth such passion and detemiination, to well over 600 members. The numbers you cater for on a weekly basis speak for themselves. l am sure thal I can speak on behalf of all of the trustees when I say that it is so reassuring to know that such a fantastic community facility is in such safe and competent hands and we have no doubt that the Centre's programme will Gonsolidala over the coming months and year. In my role as Chaimian, I will continue to support Marie in every way I can. with a sharp eye on maintaining a secure and stable long temi future for the Centre and its users and with a specific focus on supporting Marie and her team to continue to build on the diversty of what the Centre can offer. It is my view that. with the Centre's gymnastic section so very well established, Marie and her team can continue to develop and nuriure the altemative revenue streams now in place. such as stay and play sessions, third party bookings and users, events and parties, and the cafe. We as trustees, l am sure like everyone here, are looking forward to another positive year ahead. onè with stsbility and diversity at its core and a year in which effort and energy is revrfarded wtth progress and success. This report vms approved by the Board of the Trustees on .X.g. bj e Mr J Boyes Page 4
P140ENIX YOUTH CENTrE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PHOENIX YOUTH CENTrE YEAR ENDED 31ST AIARCH 2024 We teport on the rnnls of Ine Charty lor The year enaej 3.1 Marcn 2Q24 whLn are 58t OUT on Dages 6 to 12 Rwtiv• responslbllltle8 01 trustees and examlner Irusoes are re5ponqible for preparatfi oi Ihe aOunt5 T£ tnJSiees rynsQeT In3: an oudit t5 ncl reoiiifeo lo( tttis year under seciit>n 144121 tsf lfr CbAr IIES Acl 2011 Iltr ?C.11 Act;. li[ an Indepervien., ¢yamir.3liDn fj needed Thfr chanty s gross incorr.e tixceédea fa5 000 and Wv aré Qu31ifieo ;o undertake the exarnlpA31i by teing a qualifed mEmDer ol the Instslule of Cttanerea nccountans In Engknd and Wa5 H3¥ing 5alith 0r1vE5 the cttarily s not SUD'ect 0 dn audrt urhf cryr,pany law and is eh9ibJe for independent examinabon Il Is our resFonybility to examine IFie uncer secbon 14! ol the 2011 ACL folbw trie prfX-edL'Te5 ia,'o do Ip, the Qwerai D¥eeLiuf4S given by the crntY CotNn6softs lunder sect 145j5}1ts) ol trie 20 11 Aci: ana srate Wheth partliar mallers e come to my attEnt Ba$18 ol ind•wfidenl examlner's slatem Our e¥ammahGn bvas wr¢ed Oul In acrA3rdaTr wnh rne Ge-.,erai Dir&.5 given tsv the Cnanty CommTSSWlS An Exarnltskn Inclu(ks a re¥iew ol the CLIn115 rdS kept by I.e ctwly aid a comparwn of thé actounts presenled Wilh bose . crS 11 aSso Inc'utles cons&raiJon cl any tJfiU5u• Itms of aiscsosufes In the accounts. an£1 >eeking explanabons Ircrfp. YDU as trusiees oJncemin9 any such maller5 TtP PfD¢edtsres urvJert3K•n ao not provioe all the evidenrx that 'GuId tse rUlTed In ail akndrf and rP.$eqUen11Y no opinion IS givrn ds h4>ether tho atrU prBseni a Irue ancl ts.r Vtr' and ltr¥ie ,"epvrt hmited lo lf.ose Trtteis sel oul r, ihe sTriemenk tse• Ind¢pond•nt examiners ststefflenr In CtyineCtn wth our examinaiityl. 110 macer lias corne to our allenlinn whth gNe5 us reanable Ixjse to tVe tnai In, any manai respea. IfrE UirementS to kep untIng COrts In acccrdantx wtn secbon 386 01 Ine ComDan5 and lo prepare aolintS accord wiin tne attotsntsng f££ords and amply VAth tts accouiitina requirements ot seCIn u56 .JT the com0ranS Acl 20C6 and wi'h the method_ ana Pin&ples ol the Staternenl of Recomm#naeo Practice Lcountiny anG Re¥Krting by Cttants have noi tseen Tr fy" whth In OUT opNon attentn strwlc be dra*m in Ofder to eDable a proFer urKJetsBnding of the accounts to be rexhed D A Rotsrts Acctar.cY Seyviies L Thited 41 NewL4Jry Dri¥ Daventry NcrtranEs NN11 ma SMJnatUfQ. AILUL 4 Dale Paje 5
PHOENIX YOUTH CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds Restricted funds Totsl 2024 Total 2023 INCOME Income from generated funds Donations Income from investments Income from charitable activities Other income 17 1,615 288,738 6,000 17 34 1,615 266 288,738 259,707 6,000 20,000 Total 296,370 296,370 280,007 EXPENDITURE ON Costs of generating funds Expenditure on charitable activities 276,870 276,870 253,916 Totsl 276.870 276,870 253,196 NET INCOME 19,500 19,500 26,091 Net movement in funds 19500 19.500 26,091 RECONCILIATION OF FUNDS Total funds brought forward 148,268 148,268 122,177 TOTAL FUNDS CARRIED FORWARD 167,768 167,768 148,268 Page 6
PHOENIX YOUTH CENTRE STATEMENT OF FINANCIAL POSITION YEAR ENDED 31ST MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 62.226 67.780 CURRENT ASSETS Stock Debtors (amounts falling due within one year) Cash at bank and in harKI 148 1,267 111.089 205 1,618 85,742 112.504 87,565 CREDITORS: Amounts falling due within one year 6,962 7,077 NET CURRENT ASSETS 105.542 80,488 TOTAL ASSETS LESS CURRENT LIABILrriES 167.768 148,268 CAPITAL AND RESERVES Unrestrlcted funds 167,768 148.268 167.768 148.268 These financial statements vRre approved by the Board of Trustees on24.-.k)..- Io i¥?nd vRre signed on its behalf by: ned Mr J Boyes Chairman Mrs E Bedford President The notes form part of these financial statements Page 7
PHOENIX YOUTH CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 1. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the Charity have been prepared in accordance with the Charities SORP {FRS102) Accounting and Reporbng 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) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. b) Income All incoming resources are included on the Ststement of Financial Activities when the charty is legalSy entitled to the income and the amount can be quantified with reasonable accuracy. Expenditure Expend¥ture is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent wsth the use of resources. d) Taxatlon The charity is exempt from tax on its charitable activtties. Fund accounting Unrestricted funds can be used in a¢cordano with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objeGt5 of the charity. Restrictions arise vlhen specrfied by the donor or when the funds are raised for particular restricted purposes. Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes of projects. Tangible fixed assets Depreciation has been provided at the following rates in order to tte off the assets over their estimated useful lives. Office Equipment Sports Equipment Café Fixtures and Fittings - 25Yts reducing balance 10 % reducing balance 10°/o reducing balance - 25 % reducing balance g) Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. h) Pension costs The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordan with the rules of the scheme. Income All income is recognised in the Statement of Finanaal Activtties once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Page 8
PHOENIX YOUTH CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 2. AVERAGE NUMBER OF EMPLOYEES The average number of employees during the year was 9 (2023- 9). No employee received remuneration amounting to more than £50,000 in either year. No trustee received any remuneration or reimbursement of expenses. 3. TANGIBLE FIXED ASSErs OFFICE SPORTS EQUIPMENT EQUIPMENT CAFE FIXTURES TOTAL & FirriNGS COST At 1 April 2023 6.347 119,563 3.120 25,509 154.539 AddonS 1.110 1,369 At 31 March 2024 7.457 119,563 3.120 26,878 154,539 DEPRECIATION At 1 April 2023 5.157 57.683 1.462 22,457 86.759 Charge for the year 574 6.188 166 1.105 8.033 At 31 March 2024 5.731 63.871 1,628 23.562 94.792 NET BOOK VALUE At 31 March 2024 1.726 55.692 1.492 3,316 62,226 At 31 March 2023 1.190 61.880 1.658 3.052 67,780 Pag8 9
PHOENIXYOUTH CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 4. STOCK 2024 2023 Stocks 148 205 5. DEBTORS: AMOUNTS FALLING DUE WtrHIN ONE YEAR 2024 2023 Trade debtors Other debtors 1376 1.242 1.267 1,267 1,618 6. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade creditors Accruals Taxation and social security 24 3.818 3,235 3.271 3.691 6,962 7.077 7. UNRESTRICTED FUNDS Brought forward Incoming sources Outgoing resources Carried forward General fund 148,268 296,370 (276,870) 167.768 148,268 296,370 {278,870) 167.768 Page 10
PHOENIX YOUTH CENTRE INCOMING RESOURCES FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Incoming resources Incoming resources from generated funds Other Donations 17 Bank interest received Investment income 1,615 266 Charitable Activity Gym Income 288,738 259.707 Other Incoming Resources Grant income 6,000 20,000 296.370 280,007 Page11
PHOENIX YOUTH CENTRE EXPENDITURE FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Expenses Cost of generating funds Water Heat and light Cleaning Repairs and maintenance Salaries Employers NIC Pension contributions Training Computer costs Travelling expenses AcGountanGy fees Professional fees Insuran Printing postage and stationery Telephone Advertising Health and safety Affiliation and lince fees Centre expenses Bank and EPOS charges Depreciation 2,112 27.893 2,886 11.564 190,817 10.676 3.986 918 30,476 1,760 5,235 177.875 10,075 3.458 1,090 20 215 1.440 615 1,440 6,068 964 2,452 5,699 1,876 2,371 1,040 539 4,942 8.034 1,311 181 753 9,050 276,870 253,916 Page 12