PHOENIX BENEVOLENT Registered Scottish Charitable Incorporated Organisation N umber.. SC048872 PHOENIX BENEVOLENT TRUSTEES, REPORT AND RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
PHOENIX BENEVOLENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE ANDADMIN15TRATIVE INFORMATION Registered Scottish Charitable Incorporated Organisation Number.. SC048872 Registered address., Trustees: Bankers: Royal Bank of Scotland 40 Albyn Place Aberdeen ABIO IYN Solicitors.. Brodies LLP Brodies House 31-33 Union Grove Aberdeen ABia 6SD Investment managers.. Sarasln & Partners luxon House 100 St Paul's Churchyard London EC4M 8BU Independent examiner,.
PHOENIX BENEVOLENT Contents Poge Report of the Trustees Indepe ndent Examiner's Repcsrt Receipts and Payments Account Statement of Assets and Liabilities io Notes to the Accounts li
PHOENIX BENEVOLENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees have pleasure in presenting their re port along wlth the accounts of Phoenix Benevolert for the year ended 31 March 2025. The account5 have been prepared in accordance with the accounting pollcies set out in note I to the accounts. The ref erence and administrative inforMatn on page I forms part of this report. Background Newton Dee Camphill Communlty INDCCI, a charity registered with OSCR. had established an Old Age Provisior Reserve to help in providing f inancial support towards meetlng the needs of co-workers aml ex co-workers who had reached retirement age and byway of their voluntary status had been unab to make provision for their old age. (Vocational co-workers live and work as part of Newton Dèe Camphill Community, providing care and support to adults wlth a learning disability. Vocational co- workers do not receive paid employment. a wage or salary or a contribution to a prlvate pension and have no f unds to make pension arrangements while at Newton Deel. Following Segal advice, the trustee5 of NDCC made the decision that, in orderto protect and develop the Newton Dee ethos and way of Ilfe, a separate charitable body be created and Phoe nix 8enevolent I PB) was established as ScottS51i Charltable Incorporated Organlsation with the approval of OSCR and HMRC. The monies in this reserve were then donated by NDCC to Phoe nix Benevolent, in order that It could carry out its charStable purpose5 and to encourage new recrults to the co-worker model and thereby pre5ervethe Newton Dee way of Ilfe. Structurei governance and management Phoenix Benevolent was formed on 28 November 2018 under its Constitution. It is registered a5 a Scoitish Charitable Incorporated Organisation ISCIOI under charity number SC048872. The followlngtrustees served throughout the year 31 March 2025 and to the date of thls report, unless otherwise indicated. The majority of trustees are independentfrom NDCC. The Board of Trustee5 Is re5pon51ble for the strategic direction of the organisation. Operational decision-making is delegated by the Board to the Phoenix Advi50ry Board which Is comprlsed of three trustees and a nominated co-worker from NDCC.
PHOENIX BENEVOLENT REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED) Structurei governance and management Icontinued) All major decisions regarding grants, investments, futurestrategy, policies are made by the full Board of Phoenix Benevolent, whlch meets at least twice perannum. The decision5 are minuted and actions are monltored at f uture meetings of the Board. The day to day running of the charity which includes correspondence, f inancial records, payments, data processing and grant processing are delegated responsibilities of the Phoenix Benevolent advisory group. Phoenix Benevolent has a membershlp made up of the trustees of PB and NDCC and long term co- workers (more than f ive yearfs service) underretirement age (presently 661. This membership will be entitled to attend the Annual General Meeting in order to adopt the annual accounts and approve Board nominations. Phoenix Benevolent's office is based within the N ewton Dee Camphill Community and there is a service agreement between the two organisations, covering the use of facilities, consumables and data storage, necessary f or Phoenix Benevolent to carry out its wo rk. There are links between PB and N DCC as PB offers, where appropriate, discretionaryfinanci31 support to Newton Dee and ex-Newton Dee co-workers in their old age. NDCC may consider additional donations to PB. The majority of trustees are independent from Newton Dee Camphill Community. All trustee5 glve thelrtime freely and receive no remuneratlon orf inancial benef it in their capacity as trustees. Details of trustees, expenses are disclosed in the accounts. Trustees are required to declare all relevant interests and the charity maintains a register of interests as an internal record of trustee interests. Obje¢tlves and activities Under its Constitution, the charity's purposes are def ined as follows.. The SCIO will promote, advance and further its charitable purpose5 by making provision for the support If inancial or otherwise) of..- as determined by the charity trustees in their sole discretion, co-workers or ex-co- workers at or past the polnt of retirementf rom theirworking lif e (which will ordinari be at the point of reaching the natlonal retirement age),. and In limited circumstances, to be determined f rom time to time and case by case as appropriate by the charity trustees, Spouses, civil partner5, cohabitants and other dependent5 of a co-workerwho have become through old age, sickness, infirmity, poverty or other disadvantage in need of financial support, care, nursing accommodation and/or anthroposophical, medical or other treatment with all support provided being closely connected to issue5 of age and based on needwithout any Indlvldual being entltled to support from the SCIO.
PHOENIX BENEVOLENT REPORT OF THETRUSTEES FOR THE YEAR ENOED 31 MARCH 2025 (CONTINUED) Publlc beneflt During the year the trustees have had regard to the public benef it guidance issued by OSCR. They believe that, in fulfllling the charlty's current prlmary purpose, the organisation fully meets its obligatlons under the public benefit guidance. Grant maklng process G rant applications may be made by individuals, or by a £ommunity/other benevolentfund on beha of the individual on an annual basis. The application is made on a standardised f orm and includes inf ormation about the applicant's f inancial asset5, income, budgeted expenditure and unmetfinancial need5. The applications are scrutinised by the Phoenix Advisory Board and queries and anomalies resolved before a grant recommendation is made to the full Tru5toe Board. In exceptional circum5tance5 this may take place by email correspondence. Grants are usually disbursed at the beginning of the f inancial yeari.e April. All grant5 are completely discretionary. In light of this, Phoen Benevolent cannot act as a guarantor of funding for an individual, for example in the topping up of care home fee5. Achievements and performance The trusteesmet as a full board in 5eptember2024 and March 2025. The advisory body met priorto the March meeting to consider and mal<e grant recommendations for the full board to consider. The audited accountswere apprc)ved and Signed on 5 December2024. The accounts were presented to the members of Phoenix Benevolent on 25 March 2025. At the AGM St was agreed to consider whether it would not be possible for Phoenix Benevolent to move away f rom an audit of the accounts and go instead to an independent examinationof the accounts. Thi5 was done in light of the increased costs of an audit and the very small numberuf transactions taking place in the accounts. In May 2025 the board unanimously decided to move to an independent examination of the account5. In the year 2024-25 a total of 23 grants were made12024 - 221. Of these grants 8 12024 - 81 were made directly to individuals, one12024 - two) was made to another Camphill Social Fund, 1412024- 121 were made to Newton Dee Community. In March 2025 10 grants were approved andwill be paid in 2025-26. Of these one was made to the Camphill social f und, one to Newton Dee and eight grants to Individua15. It is anticipated that further grants will be made during the f inancial year 2025-26. Flnanclal revlew In March 2025 Phoenix Benevolent received a donation of £90,000 from Newton Dee Camphill Community and expenditure totalled £151,182. Balance5 held in the charity's bank account decreased from £197,316 to £136,687. Going concern The trustees conslder the charity to be operating on a going concern basis due to its prudent management of the present funds it has avallable, balanced agaln5t the grants it15 minded to make.
PHOENIX BENEVOLENT REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED) ReseeS pollcv Phoe nix Benevolent has a policy of placing the majority of its assets in an investment portfolio. A sum of cash will be held with the ban1< to meet the budgeted potential requests forf inancial supportf rom applicants and the runnlng costs of PB over a two year period. The intention of the charity is to be able to provide appropriate support over an extensive number of years and thus the trustees do not consider it relevant to constrain the amount held in reserves at any particular point in time. Investment pollcy The trustees have appointed Sarasin and Partners LLP as investment managers. £4,S17,238 Ivaluatlon at 31 March 2025} 15 invested in an ethical portfolio (Climate active endowment fund). The investments aim fora return of CPI plus and will be reviewed a nnually against benchmark figures. In 2024-25 the investment portfolio increased in value from £4, 143,639 to £4,517,238, an increase of 9.02Y.. The trustees will continue to monitorthe performance of the investments with a Standing point at each meeting and through receiving quarterly updates from our investment managers. Fund managerfs fees are incurred by tho investment f und. Any balance being incurred by way of cash would be ref lected in the receipts and payments account. Recrultrnent, induction and tralnlng of trustees The current trustees remain dedicated to the mission of the charity. They are drawn f rom a variety of backgrounds and bring their wealth of experSences to the role. Trustees are appointed Ibythe Board and members) for a term of office of 5 years and are eligible f or reappointmentfora furtherterm of 5 years. There is no limit to the number of terms in off ice. The Board reserves the right to interview prospective trustees and a welcome pack f or new trustees has been developed. Trustee5, when required, will receive advice from legal and HR advisors on new and current guidan from the relevant regulatory bodies including The Off ice of the Scottish Charity Regulator10SCRI and also on the application of the charity's Constitution. Key management personnel The Board con5tltutes the key management personnel. No member of the Board receives remuneration for thelr duties as trustee.
PHOENIX BENEVOLENT REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 {CONTINUEDI Risk managernent The Board continues to recognise the Importance of managing risk so as to enable the charity to continue to perform at the highest level. The trustees require a regular review of the Risk registe rand report routinely to the trustee meetlngs on risk as a standing agenda item, Considering the Geopolitlcal ienslons, climate change, Inf latlon rate5 and ilie volatility of stock markets, a principal risk thai has arisen Is that of the potential declSne in the value of the Invested money. Thls can be partty mitSgated by the f act that Phoenix Benevolent has a strategy of Investing in medium risli investments, which are aimed at achievin8 a rate of return of inf lation + 4¥0 over a period of 10 years. Detailed quarterly reports are also received which allow regular monitoring of the performance of the investments. Plans foy future years These plans include to.. contlnue to make provision for the support If inancial or otherwlsel of Newton Dee or ex Newton Dee co-workers who have passed retirement age and are facing hardship work with investment managers to make and plan the best use of the f unds available to Phoenlx Benevolent liaise wlth other CamphS11 benevDlent charitle5 pursue further opportunitles for trustee trainings Trustees, responslbllltles forthe accounts Inthe year ended 31March 2025 the accountshave beenprepared on a receiptsand payments basis. This is in line with guidance provided by the Off ice of the Scottish Charity Regulator. The Trustees are responsible for malntalnlng proper accounting records whlch dlsclose wlth reasonable accuracy at any time the f inancial positlon of Phoenix Benevolent and enable thern to ensure that the accounts Comp wlth relevant law. They are also responslble for 5afeguardSng the asset5 of the charity and hence for taking reasonable steps forthe preventlon and detectlon of f raud and other irregularlties. Approval The report of the Trustee5 was approved by the Board on behalf by.. and signed on its
PHOENIX BENEVOLENT INDEPENDENT EXAMII4ER'S REPORTTO THE MEMBERS OF PHOENIX BENEVOLENT I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 9toll. Respective respohslbllltles ol trustees and exarniner The ch3ritWs trustees are responslbleforthe preparation of the account5 in accordancewith theterms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charlties Accounts (Scotlandl Re8ul8tions 2006 las amended), The charity trvstees consider that the audlt requirement of Re8ulation 10(11 Idl of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(11 Icl of the Act and to state whether particular matters have come to my attention. Basls of Independent examlnerfs statement My examination is carried out in accordance with Regulation 11 ofthe 2006 Accounts Regulations. An examlnation includes a review of the accountlng records kept by the charity and a Comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanatlons from the trustees concernin8 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audlt opinion on the view given by the accounts. Independent examlnerfs statement In the course of my exarntnation, no matter has come to my attention: whlch glves me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 4411) (al of the 2005 Act and Re8ulation 4 of the 2006 Accounts Re8ulations, and to prepare accounts whSch accord with the accounting records and comply with Regulatlon 9 of the 2006 Accounts Regulations have not beell met, or 2, to whlch. In my opinlon, atiention should be drawn in order to enable a proper understandlng of the accounts to be reached. Name Relevant ro essiona qua ica ion Accountants in England and Wales professional body: Chartered Accountant, Institute of Chartered Address- Date: I l
PHOENIX BENEVOLENT RECEIPTS AND PAYMENTS ACCOUNT Forthe year ended 31 March 2025 Note Unrestrl¢ted Unrestrlcted 2025 2024 Receipts Donation5 Investment income received 90,000 553 2,181 Total recelpts 90,553 2,181 Payments Charitable activities - grants Charltable activities - other Governance costs 139,592 3,881 7,709 40,559 3,733 7,240 Total payments 151,182 51,532 Net payments 160,6291 149,3511 Reconclliation of bank balances: Balance brought forward at l April 2024 197,316 246,667 Balance carrled forward at 31 March 2025 136,687 197,316
PHOENIX BENEVOLENT STATEMENT OF ASSETS AND LIABILITIES As at 31 March 2025 Unrestrlcted Unrestiicted 2025 2024 Cash funds: At bank ia6.687 197.316 Investment assets units held in fund managed by Sarasin & Partne Sarasln Climate ActNe Endowments Fund Class A INC 3.570,939 units March 2025 Valuation at 31 4,517,238 3,299,075 units March 2024 valuation at 31 4,143,639 Cash balances held by investment man38er 1.052 227,757 4,518,290 4,371,396 Accruals 88,257 147,193 The account5 were approved by the Tru5tee5 on -19 |112aLsand slgned on Its behalf by,, io
PHOENIX BENEVOLENT Notes to the Accounts For the year ended 31 March 2025 Grants paid Grant payments in the year of £139,592 comprised grants to support 23 individuals12024 £40,559 to 7 individuals). Payments- governance costs 2025 2024 Auditor's remuneration for audit services Statutory accounts preparation 6,709 I,oao 6,240 1,000 7,709 7,240 Remuneratlon costs The charity employs no staff and there are therefore no Staff costs. The key management personnel of the charity comprise the trustees. None of the trustees received any remunoration. Travelling expense5 were reimbursed to one of the tru5tees12024-nonel. The aggregate amount of these oxpenseswas E33512024- £nill. There were no related partytransactions regardingtru5tees other than those disclosed below. Related party transactlons Two of the trustees are also trustees of Newton Dee Camphill Community IN DCCI. During the year a payment of£3,00012024-£3,0001 wasmadeby NDCCundertheterms of an agreement whereby NDCC provides administration, accounting and office support to the charltv. A donation of £g0,00012024- £nill was recelved from Newton Dee Camphlll Community. 23 individuals12024- seven), all ex-Newton Dee co-workers, were awarded f inancial support in the form of grants. The grants totalled £ 139,59212024 - £40,S591. li