REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31st March 2018 |
for |
Easterhouse Phoenix Development Limited |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31st March 2018 |
for |
Easterhouse Phoenix Development Limited |
Easterhouse Phoenix Development Limited |
Contents of the Financial Statements |
for the Year Ended 31st March 2018 |
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Page |
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Report of the Trustees | 1 to 4 |
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Statement of Trustees Responsibilities | 5 |
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Independent Examiner's Report | 6 |
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Statement of Financial Activities | 7 |
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Balance Sheet | 8 to 9 |
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Notes to the Financial Statements | 10 to 14 |
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Easterhouse Phoenix Development Limited |
Report of the Trustees |
for the Year Ended 31st March 2018 |
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 31st March 2018. The charity has opted to prepare its accounts |
using the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and follow the |
appropriate Charities SORP (FRS 102). As a charity registered in Scotland, the charitable company also reports in |
accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) |
Regulations 2006 (as amended). |
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OBJECTIVES AND ACTIVITIES |
Objectives and Aims |
Since Easterhouse Phoenix's inception 10 years ago the charity's aims and objectives have been clear and have remained |
relatively unchanged. Our objectives are to engage with the residents of Easterhouse and surrounding areas. According |
to the Scottish Index of Multiple Deprivation (SIMD), Easterhouse remains in the lowest decile for all areas of |
deprivation making the need for our centre greater than ever. We especially focus on the vulnerable, deprived, excluded |
and marginalised residents aiming to re-engage them in our local and wide communities. These are the people who are |
hardest to reach and most in need of our help and support. We aim to assist these residents by providing alternative |
channels for their energies, addressing the entrenched cultures of unemployment, unhealthy lifestyle choices, |
territorialism and drug & alcohol abuse by supporting, educating and encouraging them to make real changes to their |
lives. |
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Our aim is to create a culture of healthy bodies and healthy minds. These are interlinked and play a major part in our |
holistic approach to improving the lives of those who come through our doors. We aim to continue to provide a |
community and opportunity centre that is a focus for the community and plays a major role in the regeneration of the |
wider community by guiding, supporting and nurturing people of all ages, engendering a true sense of community. |
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Significant activities |
The centre is in the building that used to be the Council run library at 5 Shandwick Street in Easterhouse Glasgow. The |
transformation of the derelict building into the Phoenix Centre is the result of years of hard work by Richard McShane |
and a small group of dedicated volunteers. We are now into our second fully functioning year in the building and have |
started to make changes as we have grown and developed, adapting and changing to the needs of our clientele. |
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The Centre has been open every week of the year and most days of the week. People now know that we are offering a |
comprehensive range of activities and that they are welcome to come and join in irrespective of age or ability. |
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The room that had been used as the cycle workshop was refurbished allowing the Women's Centre a larger dedicated |
space for their office and activities. As they use the Centre 5 days per week it was important that their space was |
suitable for their needs. The cycle workshop moved into a disused unit in the Shandwick Shopping Centre giving it |
much more visibility. |
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Easterhouse Phoenix Development Limited |
Report of the Trustees |
for the Year Ended 31st March 2018 |
ACHIEVEMENT AND PERFORMANCE |
Charitable Activities |
The Phoenix Community Centre currently has: a function hall, a main hall, a café /seating area, a kitchen, a |
library/meeting room, a counselling room, a squash/racket ball court, a fitness room and an office. These areas are |
available for the use by the various clubs and groups and people from the local community. |
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In 2017 we became a Community Hub working with 7 other organisations. Glasgow Life has given us fantastic support |
and with their help we are continuing to develop our expertise and what we are able to offer. They have provided |
funding for a range of activities and equipment and we look forward to working with them in the future. Through them |
we are also continuing to develop our links with local primary schools. |
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Currently the range of activities on offer in the centre include: a women's support group that meets 5 days a week, a club |
for children with special needs and their siblings two evenings a week, yoga classes, a pensioners club, a breast feeding |
support group, low tech gym with a fitness/weights trainer on hand once a week and a burlesque fitness class. The |
boxing club grew significantly this year with over 200 members. The classes are now split according to age with 4 |
classes per week. |
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A sizable grant from Cycle Scotland has allowed us to buy new bikes with the intention of starting a cycling club. We |
have identified people who will undergo leadership training and hope to have this up and running before next year. |
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Funding, as always, continues to be an issue but significant progress has been made this year thanks in part to the |
support of Paul Brookes. His generosity has ensured that we have had time to build our links and that the proper |
groundwork is in place for us to run a successful centre for the people of Easterhouse. The charity 'Sported' also |
supported us and helped us to write a five year plan taking a realistic view of what we can achieve over the next few |
years. Liam from Glasgow Life provide great assistance in sourcing grant opportunities. |
The Centre has been used to host a number of community groups including the North East Glasgow Health |
Improvement Team, the East End Monthly Forum and an Older Adults Community Event amongst others. We see this |
as an important part of our remit, opening our doors to the wider community and encouraging cross agency engagement. |
Barnardo's offered a basic cooking course to single parents which was very successful. It is hoped that when we develop |
our larger kitchen area we will be able to take this kind of initiative further. |
As in previous years everyone connected with the Phoenix Centre is a volunteer and it is hoped that it will soon be |
possible to acquire funding for staff. We remain committed to providing access to activities and support |
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FINANCIAL REVIEW |
Principal Funding Sources |
During the year, our charity's main source of funding has been through donations, grants, and rent for use of the library |
premises. It is hoped that in the near future we will be able to secure funding for salaries. |
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Sources of income | £ |
Rent received | 8055 |
CCL Components Ltd | 8000 |
Cycling Scotland | 7360 |
Glasgow Life | 1633 |
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Reserves policy |
It is the charity's objective to build sufficient cash reserves to protect it when things get tough, currently our main |
expenditure is our £6000 annual rent to City Properties which is paid monthly. Now that the Centre is operational there |
has be an increase in expenditure and it remains our intention to be able to establish a reserve based on three months |
operating costs. |
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Easterhouse Phoenix Development Limited |
Report of the Trustees |
for the Year Ended 31st March 2018 |
FUTURE PLANS |
Awareness and support for our efforts remains excellent across most sectors. We have attracted a great deal of positive |
publicity for the charity with stories appearing in local and national press and on television and this has helped us raise |
awareness across the city. |
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Funding remains of the highest priority for the trustees who are continuing to make progress in this area. There are more |
rooms to be renovated, and we hope to approach the Area Partnership for funding help The lease we secured 2 year ago |
has helped us to apply for some funding but we are hopeful that we will be able to negotiate an even better lease with |
the Council in the future. |
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We will continue to work with members of the community to provide a facility that they can utilise and that they can be |
proud of. |
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This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing documents, the memorandum and articles of association, dated 24th March |
2010, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
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Recruitment and appointment of new trustees |
Trustees are elected at the Annual General Meeting. The articles do not specify a minimum number of directors or |
trustees. |
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Progress continues to be steady and it is the intention of the charity to increase the number of trustees. |
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Organisational structure |
Due to a lack of funding and no increase in activities, the trustees meet on a Quarterly basis. We keep minutes of our |
meetings which are available on request. |
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Induction and training of new trustees |
The trustees recognise the importance which a range of skills and experience would bring to the Board. Appropriate |
induction arrangements are in place. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
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Registered Charity number |
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Registered office |
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Trustees |
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Trustee |
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Director |
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Company Secretary |
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Easterhouse Phoenix Development Limited |
Report of the Trustees |
for the Year Ended 31st March 2018 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent examiner |
John Fairgrieve FCCA |
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Park Lane House |
47 Broad Street |
Glasgow |
Lanarkshire |
G40 2QW |
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This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
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Approved by order of the board of
trustees
on
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Easterhouse Phoenix Development Limited |
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Statement of Trustees Responsibilities |
for the Year Ended 31st March 2018 |
Independent Examiner's Report to the Trustees of |
Easterhouse Phoenix Development Limited |
I report on the accounts for the year ended 31st March 2018 set out on pages seven to fourteen. |
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Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities |
and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's |
trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It |
is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether |
particular matters have come to my attention. |
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Basis of examiner's statement |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations |
2006. An examination includes a review of the accounting 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 |
seeking explanations from you as trustees concerning 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 audit opinion on the view given by |
the accounts. |
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Independent examiner's qualified statement |
In the year although the quality of recording income and expenditure has improved a little, there is still poor cash |
control. Amounts are mainly withdrawn from the Credit Union account in cash and expenses paid for in cash for the |
most part. Hire charges paid by users of the premises appear to be paid to the charity in cash. |
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The charity has not prepared a cash account which would allow them to verify the cash balance on hand at any |
particular stage during the reporting year and accordingly cash control is considered to be weak. Accordingly |
expenditure may be understated. |
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In connection with my examination, no other matter except that referred to in the above paragraph has come to my |
attention: |
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(1) | which gives me reasonable cause to believe that in any material respect the requirements |
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to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the
2006 Accounts Regulations; and |
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006
Accounts Regulations |
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have not been met; or |
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(2) |
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts
to be reached. |
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John Fairgrieve FCCA |
Second Floor |
Park Lane House |
47 Broad Street |
Glasgow |
Lanarkshire |
G40 2QW |
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21st December 2018 |
Easterhouse Phoenix Development Limited |
Statement of Financial Activities |
for the Year Ended 31st March 2018 |
2018 | 2017 |
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Unrestricted
fund |
Restricted
funds |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
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Investment income | 2 |
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Other income |
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Total |
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EXPENDITURE ON |
Charitable activities |
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Other |
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Total |
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NET INCOME |
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RECONCILIATION OF FUNDS |
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Total funds brought forward |
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( |
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TOTAL FUNDS CARRIED FORWARD |
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18,270 |
Easterhouse Phoenix Development Limited |
Balance Sheet |
At 31st March 2018 |
2018 | 2017 |
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Unrestricted
fund |
Restricted
funds |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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( |
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( |
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CREDITORS |
Amounts falling due within one year | 8 |
( |
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( |
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( |
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( |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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ACCRUALS AND DEFERRED INCOME | 10 |
( |
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( |
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( |
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NET ASSETS |
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FUNDS | 11 |
Unrestricted funds | 24,265 | 21,055 |
Restricted funds |
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(2,785 | ) |
TOTAL FUNDS |
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18,270 |
Easterhouse Phoenix Development Limited |
Balance Sheet - continued |
At 31st March 2018 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31st March 2018. |
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The members have not required the company to obtain an audit of its financial statements for the year ended |
31st March 2018 in accordance with Section 476 of the Companies Act 2006. |
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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. |
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These financial statements have been prepared in accordance with the |
special provisions of Part 15 of the Companies Act 2006 relating to |
charitable small companies. |
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The financial statements were approved by
the Board of
Trustees
on
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Easterhouse Phoenix Development Limited |
Notes to the Financial Statements |
for the Year Ended 31st March 2018 |
1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements of the charitable company, 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 2015)', |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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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. |
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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. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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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. |
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Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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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. |
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2. | INVESTMENT INCOME |
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2018 | 2017 |
£ | £ |
Rents received |
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3. | NET INCOME/(EXPENDITURE) |
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Net income/(expenditure) is stated after charging/(crediting): |
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2018 | 2017 |
£ | £ |
Depreciation - owned assets |
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Other operating leases | 6,000 | 6,065 |
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Easterhouse Phoenix Development Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2018 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the year ended 31st March 2018 nor for the year |
ended 31st March 2017 . |
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Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2018 nor for the year ended |
31st March 2017 . |
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5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
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Investment income |
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Other income |
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Total |
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EXPENDITURE ON |
Charitable activities |
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Other |
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Total |
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NET INCOME |
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RECONCILIATION OF FUNDS |
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Total funds brought forward | 19,022 | (2,785 | ) | 16,237 |
TOTAL FUNDS CARRIED FORWARD | 21,055 | (2,785 | ) | 18,270 |
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Easterhouse Phoenix Development Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2018 |
6. | TANGIBLE FIXED ASSETS |
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Short
leasehold |
Plant and
machinery |
Totals |
£ | £ | £ |
COST |
At 1st April 2017 |
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Additions |
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At 31st March 2018 |
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DEPRECIATION |
At 1st April 2017 |
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Charge for year |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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2018 | 2017 |
£ | £ |
Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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2018 | 2017 |
£ | £ |
Other loans (see note 9) |
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Trade creditors |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 1,314 | 1,314 |
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10. | ACCRUALS AND DEFERRED INCOME |
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2018 | 2017 |
£ | £ |
Accruals and deferred income | 1,725 | 807 |
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Easterhouse Phoenix Development Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2018 |
11. | MOVEMENT IN FUNDS |
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At 1.4.17 |
Net
movement in funds |
At 31.3.18 |
£ | £ | £ |
Unrestricted funds |
General fund | 21,055 | 3,210 | 24,265 |
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Restricted funds |
Phoenix United Football Club | (2,785 | ) | - | (2,785 | ) |
Cycling | - | 7,224 | 7,224 |
( |
) | 7,224 |
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TOTAL FUNDS |
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10,434 | 28,704 |
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Net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 16,964 | (13,754 | ) | 3,210 |
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Restricted funds |
Cycling | 7,360 | (136 | ) | 7,224 |
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TOTAL FUNDS |
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( |
) | 10,434 |
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Comparatives for movement in funds |
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At 1.4.16 |
Net
movement in funds |
At 31.3.17 |
£ | £ | £ |
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Unrestricted Funds |
General fund | 19,022 | 2,033 | 21,055 |
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Restricted Funds |
Phoenix United Football Club | (2,785 | ) | - | (2,785 | ) |
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TOTAL FUNDS | 16,237 | 2,033 | 18,270 |
Easterhouse Phoenix Development Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2018 |
11. | MOVEMENT IN FUNDS - continued |
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Comparative net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 15,005 | (12,972 | ) | 2,033 |
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TOTAL FUNDS | 15,005 | (12,972 | ) | 2,033 |
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12. | RELATED PARTY DISCLOSURES |
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There were no related party transactions for the year ended 31st March 2018. |
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