2023-12-31-accounts - Iran Heritage Foundation

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Report of the Trustees for the Year Ended 31 December 2023

Iran Heritage Foundation

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 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Foundation interprets its remit generously and encourages a wide range of activities intended to provide a forum to facilitate the study and understanding of Iran's culture among students, the academic community and the public at large.

The Iran Heritage Foundation's objectives are to help, promote and preserve the rich culture and heritage of Iran. Iranian cultural heritage is defined as archaeology, ancient Iran, medieval Iran, Persian language and literature, the contemporary arts (including music, theatre, film and art) and the environment.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charitable Company's aims and objectives and in planning future activities and planning the activities for the year.

Iran Heritage Foundation Report of the Trustees for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES Overview

In 2023, effects of Covid-19 pandemic on organisations and charities all over the country still lingered on. This included the Iran Heritage Foundation, which experienced significant fall in receipt of donation. High cost of organizing large scale in-person events meant that we were again not able to hold the annual Norouz Gala, the main annual opportunity for the Foundation to raise funds. In 2023 we continued to work from home, with occasional visit to our office at SOAS. The end of 2023 saw termination of the Foundation’s relationship with Persian Language Online (PLOL) platform and stepping down of Samuel Styan from his role as the PLOL Coordinator.

2023 continued to be a challenging year for our organisation with shortage of funds curtailing the Foundation’s productivity. The Foundation’s only offerings in 2023 was streaming of two films online; “ Of Kings and Paintings ”, a visual account of the history of the Qajar art and “ Ahriman: Death before Dying ”, account of the journey of a tainted soul as it experiences three different reincarnations through time, both of which were very well received by their audience. The Foundation also sponsored publication of Dr Hamid Keshmirshekan’s book Rethinking Contemporary Artists in Iran .

Persian Language Online continued its success by posting new materials on its website through a series of blogs, which included “ All about ezafe ”, “The Language of Nature in the Poetry of Forough Farrokhzad”, “Re-Imagining the Self in Nature: Through the Lens of Forough Farrokhzad”, “A short history of Indo-Arabic numeral system” and “Persian Architectural Styles through the Ages 1: Persepolis and the Achaemenids and 2: The Ilkhanids” with further two blogs dedicated to the celebration of Chaharshanbe Suri and Norouz .

A significant development of the year was the Board of Trustees’ agreement to resurrect the IHF Academic Committee with a more robust remit than in the past under the chairmanship of Prof. Robert Hillenbrand. The committee will oversee two annual grant-giving cycles and an annual publishing book award in the name of the late Iradj Bagherzade, founder of I.B. Tauris Publishing house. The Academic Committee will start its remit in January 2024.

We look forward to resume activities in 2024.

Iran Heritage Foundation

Report of the Trustees for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES Functions and/or Programmes Organised and/or Funded in 2023

a) Social and Entertainment

No social activities were undertaken in 2023.

b) Events

Of Kings and Paintings
Online film streaming
March 15-20, 2023
Ahriman: Death before Dying Online film streaming November 20-25, 2023

c) Grants

Mani Nickpour for attending the Kanazawa Film Festival 23 in Japan
Hamid Keshmirshekan for publication of his book Rethinking
Contemporary Artists in Iran.

Iran Heritage Foundation

Report of the Trustees for the Year Ended 31 December 2023

STRATEGIC REPORT

Financial review

IHF funds were raised primarily from Trustee Board pledges, individuals and organisations interested in supporting the culture and heritage of Iran.

The funds were used for the Foundation's activities, including grants, events, as well as administrative expenses, keeping in line with the core objectives of the foundation.

In 2023 total Sources of Funds were £……… and total Uses of Funds were £……….

Principal funding sources

Notes 12 and 13 set out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the Foundation's obligations on a fund-by-fund basis.

The most important sources of Iran Heritage Foundation's funding are the contributions from Trustees, foundations, sponsors, donors and friends. Some events organised generate further funds. No financial support is received from government organisations within or outside the United Kingdom.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Iran Heritage Foundation is a company limited by guarantee and is a registered charity governed by its Memorandum and Articles of Association. The Foundation was registered with the Charity Commission on 14 February 1991, under charity number 1001785.

The Trustees, who are also the Directors for the purposes of company law, who served during the year, were:

A Rashidian (Co-Chairman) A Rastegar (Co-Chairman) N Alakija A Amiri

None of the Trustees has any beneficial interest in the charitable company.

Iran Heritage Foundation Report of the Trustees for the Year Ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

New Trustees are selected among persons who have an in-depth interest in the culture and heritage of Iran, can contribute to the strategic thinking of the Foundation, be instrumental in advancing the mission of the Foundation, and be of assistance in raising funds for the Foundation.

New prospective Trustees are introduced by one of the existing Trustees for consideration by the Board which votes on the appointment. New Trustees are provided with a new trustee pack which includes: a trustee induction document provided by IHF's lawyers for new Trustees; a copy of IHF's Articles of Association; the three previous annual reports; the most recent copy of IHF's budget; a list of upcoming board meetings; a list of the members of the Board of Trustees, details of the Academic Grants Committee and the Contemporary Arts Grants committee, and full details of IHF's advisors (banking, legal and accountancy).

New Trustees are appointed by resolution of the Trustees for a term of three years, after which they are eligible for re-appointment by vote of the Board.

Risk management

The Foundation's business is managed by the Trustees through a Management Board, various Committees, and by officers appointed by the Trustees, and a Foundation Secretary.

The Trustees are also responsible for overseeing the Charitable Company's risk management activities. Through the risk management process established for the Charity, the Trustees are satisfied that the major risks have been identified and processes for addressing them have been implemented. It is recognised that any control system can only provide reasonable but not absolute assurance that major risks have been adequately managed.

The main risk to the Foundation would be lack of donations. This risk is minimised by actively promoting activities.

The Trustees confirm that the Charity Commission's guidelines on risk have been complied with.

The Trustees set the policies of the Foundation and approve its annual budget. The Trustees' policies are executed by the Management Board, and the Chief Executive Officer. An Academic Grants Committee support and execute various aspects of the policies and activities of the Foundation

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02510489 (England and Wales)

Registered Charity number 1001785

Registered office

SOAS University of London Thorhaugh Street London WC1H 0XG

REGISTERED COMPANY NUMBER: 02510489 (F.ngland and Wales) RF,GlS'fERED CHARITY NUMBER: 1001785 -RLporl ol. Ihc I ru%lLLs and Unau_diilc P-inancial SILI_Icmci)l% l()r IliL YciL r E_n_d_c_dxl Dco¢niber 2023 for Iran I l¢.riltw F oiin_dation (A_L.oiD.p.piiy l.iinilcd.by.G.uatan.t¢¢) Faiz & Co. Limited Chartcrcd ALLountants 8B Accommodati(In Road London NWII 8ED

Iran Herita Fouiidati(L Contents of the Financial Slat¢ments for IhL Year Ended I l DecembLr 2023 Page Report of the Trustccs Indcpcndcnt Exainincr's Ilcport Siatement of Financial Activities B&21ance Sheet Notes to thc fiiiaiicial Statcinents 8 to 17 r)Ltail¢d Stalcnicnl ot F inaiicial Acliviticq

Iran Herila e Foundation ort of the Tnjstees for the Year Inded 31 December 2023 Thc truslccs ivho arc also dircctors of the charity for ihc purposcs of the Companies Act 2006, prescnt their Teport willi th¢ liiiancial statemcnts of the charity for the yLar ¢nded 31 Decembcr 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Staieinent of RLcomm¢nd¢d Practic¢ applicable to charities preparing their accounls In accordance with the Financial Reporting Standard Ipplicable in the UK and Republic of Ireland (FRS 102) (erreciive l January 2019). OllJb.CTIVF.6i AND ACTIVITIF. Functions andlor Progr#mmes Organlsed andlor Funded In 2023 a) SD¥i31 and E_lilcrtainiiicnl Ol. KingF% and P1L intiiigys Onliiic film %treaniing March 15-20, 2023 Ahriinaii.. Death before Dyiiig Onlinc film slreainiiig N()vLmbcr 20-25, 2023 J_orant Mani Nickpour lor all¢iidiiibJ thc Kanaziiwa F ilin Iicstival 23 in Japcln H4imid Ke%hniirshekan flir publication i)f his book Rcthinking Contcmporary Artists in Iran. S'I'RATTr,C.IC REPORT inanciul reviL'W 1111." luiids WLfL rai%ed priniarily froni Trustee Board pledgcs, individuals and orgyanisationq inlLresled in siipportin&F thL' LiiliurL' aiid IILritdg)e of Ii'illl. Th¢ fuiids w¢i'¢ UbLd fur Ili¢ fouiidiilion'b uclivili¢s, iiicludinb byronls, ¢v¢nls, as w¢ll os administrative ¢xpenscs, kccping iii line witli thL core objecliveb of the fouiidation. 111 2023 total Sc)urLc% of Fuiid% wcrL £36,074 aiid l()lal use% of fuiids werc £80,918. Prlnelpal lundlng s(Jurce5 Notc% 12 and 13 %ct out ali analysis of thc asscls attribiitabl¢ to thc vari011s *unds. Thcs¢ as4ets are ,guflicicnt to meet tlie Foundation'% obligation4 on a tund-by-t.und ba%14. The mosl important sources of Iran Heritage Troundation's funding are the contributions from Trustees, fouiidatioiis, sponsors, donors and fTicnds. some events organised geneTate furtlicr funds. No financial siipport is receivLd froni govemnient organisations within or outside the United Kingdom Page I

Iran Herita e Foundation ort of the Trustecs for the Y ar Ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMF.NT Cyoverning document TIIL Iran Ilci-iiUgY¢ Foundation is a company limited by giiarantee and is a regiqtered charity govemed by its Memoi'andum and Articles ot" Association. The Foundation was r¢gistercd with the Charity Commission on 14 February l991, under charity number l 001785. The Tnistees, who are also Ihe DireLlois for Ihe PUlPOS¢b of coinpai)y law, who bcrvcd during7 ihe y¢ar, were.. A Rc18hidian (C,hainnaii) A RaslegFar (Co-cliaii-iiiaii) A Amiri N Aliikija Nonc nl. thc Trustccs lias any bcncficial intcrcst in thc chiL ritablc conipany. Recruitment and appnintmcnt of new trustees NLW Truslccs are sLILLlcd ain()ng person4 wlio havc ali in-depth intercsi in thc culturc and hLI'ilage of Iran, C(In ci)ntribule to tlie strategic thinking of thL Fouiidation, be instruniental in advanLing thL mission of the F()uiidation, and b¢ of assistanLe in raising funds for thL Foundation. New prospeclive Tni%lecs dre iiitroduced by oiic of ihc exisliiig Truslee5 for considLralioii by Ilie Board wliiLlI votcs oil Ili¢ appoiiilinLiil, Ncw Trii%lLCS are providcd with a iiew truslLL P6?ck wliicli iiiclude%'. tru4lLL induction di)LiimLJit provided by IHf'.% Iciwyers for new Trustcc%' a copy c)r IHF'4 Articles or A4%1)Li&ltii)n; IIIL, IlirLL PfLViI)Ii% aniiiial report.s; thc m(isl rcccnl copy of IHF'% budbTLt' a list OE. upconiing board inccling7%' a list ol" thc membcrs of the Boar(l of Tni%tcc4, d¥tail% ()r ihc AcadLlniL Grants Coiiimittcc <ind thc Contet)Iporary Arts CJranl8 coniniillcc, and full dclails of IHF'S advisorg (b<inking, Icgal und accountancy). New Trustees are appoinled by rLsolution of ihc Trust¢es for a tem] of three years, after wliich they are eligyiblc tor r¢-appointinent by vote of ihL Board. Rlsk managl'ment ThL Fouiid&ltioii's bu%iiics5 is iiiaiiagTr¥d by thc Truslccs througyh il Management Board, v?& rious Committees, aiid by offiLer% appoinled by Ili¢ "fruslLLS, aiid a foui)dation Sccrctary. TIIL TrustLC% arL also rc,%poii%iblL for ovcrsLcing thc Charitablc Company'% ri%k managcmcnt activitics. Tlirouglh Il)L ri%k iiianagLnicnl procc.ss cst(Ibli.4hccl for thc Charity, the Truslces are salisticd Ilial thc major risks htivc bccn idcntified (ind proccsscs for Jddre%sinb them havc bccn implcmcntcd. It 1% r¢cogni4cd that any coiiti'ol systcni can only provid¢ reasonablc bul not absolulc assurance ihat Inajor risks havc becn adequalely managed. The main risk to the Foundalion would be lack of donations. This risk is minimised by actively promoting activities. ie Trustees confimi that ihe Charity Coininissioii's guid¢lii)es 011 risk havc bcen complied with. The Trustees set the policies of thc Foundation and approvc its annual budget. Thc Trustees, polici¢s are cxccuted by the Managcment Board, and thL' Chief ExeLUtive Officcr. An Ac¢idcmic Grants Committee and a Contemporary Arts Grants Committee Support and exccutc various aspects of the policies and activitics of the Foundation. Page 2

REFERENCE AND ADMINISTRATIVE DETAILS Regislered Company number 0?5104119 (F.ngland and Wal¥s) Registered Charity number 111111785 Registered office %( IAS lJnivo'rsity of I,()ndon .i)nd()n WQIIIIIXCJ Trustees A Eld%hidian Chairn]an A Ra%tLgar Lo - Lhaiman A Amiri N Alukija Independenl F.xaminer l aiz & L<). l.imitud L hdrtLILd ALI()unfanLs 1111 ALL()mmc)dati()n Rc)d(f .c)ndc)n NWI I111-:I) RLPQrt (It. rhL Cnislee8, incorporating a %tratcgiL rep()rt, approved by ()rdcr ot th¢ board ot. tnistCCS, U5 thL cl)mpY dirLLt()rs, 1)n . and %ignLd ()n thL IK)ard'% bihalf by.. A IlastL'gar - "I ru.sl¢L Pag¢ 3

Tnd¢ endent Examlner's Re Iran Herita ye FouiidatioIi ort to the Trustees of Independent examiner's report to the trustees ol" Iran Heritage FoundatSon {'the Company,) I report to the charity trustecs on my examination of the accounts of the Company for thc year cnded 31 Dcc¢mber 2023. Responsibilities and basis of report As thc charity's Iruslees of. the Company (and also its diTectors for the purposes of company law) you are responsible for the pi'eparation of Ihe accounts in accordance with the requiTements of the Companies Act 2006 ('the 2006 Acl,) 14avingT satisfied mysLlf thal thL accoiinl% of Ihe Cuinpai)y ui'e iiot required io bc iiudited under Parl 16 of the 200() Act aiid arc clibTible for iiidepeiideiit exdlnill4ilii)i), I report in rLspecl L)f my Lxainiiiatioii of your charily's accouiits as carried out uiider SLction 145 of the Charilies Act 2011 ('the 201 l Acl,), Iii LarryiiigF Out Iny cxaiiiination I havL followLd ilic DirLLtioiis giN'Ln by thc Charity Coiiimission undcr SLclion 145(5) (b) of Ihc 2011 ALI. IndLpcndent LxaminLsr's st#tLiillLinl I liuvc Lumplclcd my Cxii mination. I confimi thal no m<ittcrs havc comc to my attcnlion in conncclion with the cxaiiiinatioii biiviijg iiic cause tL) bclicv¢', accountingy re¥ords wcrL not kept in respect ot. the Coinpany as rLquired by Section 386 of thL 2006 Act; or lh¥ accountfj do iiot accord witli tliose rccords; or Ihe acLouiits du iiol Loinply with thc (IILOllI)liiib) rcquircmciits of Sectioii 396 of tlie 2006 Act other Ilicon any requircmeiit that the clLLOLints giivL a Irue diid fair view wliich is liut a niatter coiisidcrcd as parl ol. an iiidLpLiidL'I)t cxamiii<ltic)n; c)r IhL' aLLI)unl% liilVL nol hccn prci)arcd in aLL()rdanLi willi thc mclliod% aiid priiiLiplc% of Ihc Stalcmcnt of RccoiniiiLndcd Prii¢liLL for aLcounting aiid rLporting by charities (applic¢ihlL' Iu LharitiL% prLpariiig thcir aLLI)unt.4 111 (ILL(Irdance wilh thc liiiiancial R¢porting Standard uppliLablc in thc UK and Rcpublic ol" Ircland (F Il8 10?)). I have no concerns and have Ll?me across no otlier mallers in connLLtion willi the examination to wliich attcnlion %l)ould be drawn in tli]% rlport in ()rdLI' lo enable a PTOPLr iinderstancling? ()f the accounts tLI be reaLhcd. Jainal M Chaiidliry Fai7. & Co. Limited Chartered Accoiintants 8B Accommodation Road Loiidon NWII 8ED 16 May 2024 Page 4

Iran Herita e Foundation Statement of Financial Activitics for the Year Endcd 31 December 2023 3 1112123 Total funds 31112122 Total fijnds Unrcstrictcd Restricted fund fund Endowmcnt fund Notes INCOME AND .YDOWMENI'5 Tr"ROM Don¢ilions and Icgacies 1,259 12,000 (i) 66,696 Charitable activitiL¥8 Dircci Cl)aritablc Exp 20,000 20.000 Other Ir¢ldingy aclivities 123 2,693 2,1116 9.713 'rotal 21,382 12,000 2,692 36,074 76.409 EXPLNDITURL Ilai.%ingy t.unds 67,668 67,668 Charltthble aLtlvlties Cjranl Direct Cliariliblc r.xp 12,000 12,000 1,250 .3.400 6,906 1,250 'I'otal 68,91¥ 12,000 80,918 98,675 NF.T INCOMF./(EXPFNDITURF.) (47,536) 2,692 (44,844) (22,266) RF.C()NCII,IATION OF Total fui)(l% l)rougl)t f()rward 68,843 144,534 213,377 235,643 TOTAI. FUNDS CARRIED FORWARD 21,307 147,226 168,$33 213,377 The notes fonn part of thesc r)nancial stat¢menls Page 5

31112123 To¢al funds 3111?1?? Ilnrcstrictcd RLstri¢tcd nd F.ndowmL'nl tijnd N()tes CURRENT ASSETS L&%h al bank in hand 26.123 147226 173J49 ?16,474 CREDITORS AmounLs talling due wiihin I)IIL y¢ar 14 (4,816) (4016) (3.IJV71 NET CURRENT ASSETS 21J07 147226 168,533 ?13,377 TnTAL ASSETS LESS CURRETYI. LIABILITIES 21 J07 147326 168,533 ?13.377 NET ASSE'rs 21 J07 147326 168,533 ?13,377 FIINDS 1 Snr¥%triLtid tunds l.ndiiwY)¢nl tiinds 21J07 147326 611.843 144.534 TOTAL FUNDS 168,533 113.377 'I'hL Lliill'ithblL tinmpty is LntitlLd ts) LxLmp(ion tmm audit under Si'Cti()n 477 c)I' thL Li)mpaniLs Acl ?n116 t()r thL yLaf LndL'd 31 DLLLmhL'r ?1123. 'I'h¥ mLml)L'r% havL n()t rLquifLd thL LOmpY to obtain ali audit of it4 fintmcidl sthtL"mLnt% ti)r thL yL¢ir Lndid 31 D¢¢emkr 2(1?3 in acL()rdance with SLLtiun 476 (It. thL Lompanics ALI 9006. 'I"hL trU4Eees dLkn()wlLdg¢ thcir r¢sponsibiliti¢s for (a) Ln.suring thllt Ihe Lhltabl¢ ci)mpany k¢¢ps acc<)unting r¢c()rds thut ¢omply with S¢Ltions 386 and 387 ()t thL Compani¥s ALI ?006 and (b) prLparing finanLial statcm¢nL4 whiLh give a tru¢ and fair view of thL 8iate of affairs of thL ch8ritahlL compEmy as at thi Lnd ()f Lach financial yL'ar and (It" its surplus cir dLtiLIt for Lach finan¢ial yuar In aLL(}rdcl with thL rL'quir¢mLnLs ot" SLcti(ms 394 395 and which oth¢rwiqL' Lomply with thi quirc'mLnL% ot. thL Companies Acl ?006 rLlrflting to financial stat£mcnL$, 40 far appli¢ablL to the LharitablL Lompany, ThL finan ial ststemcnLs were appmvcd by thc 13oard of Trustees and auth0ri5ed for is8ue nn . and were signcd on ILI behalf by: 'rhe note8 torni part of thes¢ financial Statements Page 6 continued...

A RastC8ar - "I"rustLe rh¢ niitcs forni part of th¢* financial ststcmcnls Page 7

Iran Herita e Foundation Notes to the Financial Statements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing thL financlal statements Tlic financial statenicnts of the chaTitable company, which is a public benetit entity under FRS 102, have been prepdTed in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Chaiities.. Statcment of Recommended Practice applicable to charities preparingy their accounts in a¢¢ordanc¢ with Ihe Finaiicial Reportingy St<?iidaTd applicable in the UK and RepubliL of Ireland IFRS 102) (effcclii'e l Jllnuary 2Q19)', FiiianLial RLpurliiig Slaiidc2rd I n2 'The Fiiiancial Reporting Stcqnddrd c pplicable iii tlic UK and IILpiibliL of Treldl)¢l' aiid Ilie Compaiiics Act 200(). TIIL fiiiaiiuial statLiii¢nts have bLell Pl'L'parLd uiider the Iiisiorical Lost Coiivcnlion. Flnai)cial reporting standard 102 - reduci,d dlsLlosurL' exemptlons ThL' cliarilablc Lon)pany has takcn advanlagyL ol. ilIL following di%closurc LxLinpiiL)n in preparing ihLsc l in4inLial 4talLniL'nt%. as pLnnittcd by FR8 1 (12 'TlIL ]1 inanLial R¢porting7 siandard applicable in the UK and Rcpubl ic ol. Ircland,; tlic rcqiiircnicnts of Scction 7 Statcmenl ()t' L',a%h Flows. Income 1iiLomc reprL4Cllts revLiiue fruin fiiiid raisiiig aLtivilic% aiid Lash cloiic)lioi)¥. All casli don<ltlOl)8 <ir¢ iIILlud¥d iii lull in tlie fiiiaiicial slcltcmciit% as s()on <QS ihey are reLLivLd, or plcdgJ¥s arc obicfjillLd. Where plLdg7L% al'e obtiiiiied, biit payiiiciit is iiiadl dirLcl to thc cntities .supportcd by Ihc Foui)dcltioii piircly to 11)¢ixiniisc any tax rcli¢f cntitlcmLnts ot thc spon40rs, thcn theqc circ trcatcd donation rcLcivcd ¢)nd cloTl4lti()n% gyriiiilLd as soon il% the paymcnt is made. Taxation recoverablc oil gift aid donation% 1% includcd whcn thc donation ]% rcceivcd, Incomc from fiind raibing uctivitics is rcLogniscd on thc dalc thc Cvcnt takcs placc. Gifts in kind arc rccogniscd as incomc and cxpcnditurc in the 8amc yLar al their markel value. Lxpenditiire All expLI)(litiire 1% included on an accruals basis (ind inclucles attributablc VAT which caiinot bc rLLI)verLd. Doiiatioiis are Lhargcd iii ihc yLar whiii IhL offcr 15 coiiv¥yc'd to the rccipiciit. This can eiihcr be wheii PLlid or whcii li ha% bcLI) uiiaiiiiii()Iisly cigirc¢cl by IhL TruslLC% to bc awarded iii th¢ ycar, HowcvLr, th¥ TrublLL% do rc%crvi thL rig7ht uf cxcur%inby this offcr. Ilaising fLind% arc ihosc co%ts incurred in atlraLlingi voluntary incomc. Charitable aLtivities include expenditure associated with publications, exhibitions, annual events and cducational pri)grainmcs and incli?de botli, the direct costs and support cost8 Telatinb? lo these activities. All siipport costs allocated al'e Ihosc costs inCucd thal are directly attributable to the charitable acliN'ity. Governanc¢ costs include those incurred in the goveniaiice of the charity and its assets and are primarily associated with constitulioiial aiid statutory requirements. Grants offcrcd subjcct to condition% whicli have not becn met at the year cnd date are noted as a con]mitment but not acLrued <15 cxpenditurc. Pag¢ 8 continued...

Iran Herit2 e Foundation Notes to Ihe llinanci tements - continued lor the Year Endcd 31 D¢¢¢mber 2023 ACCOUNTING POLICIES- continued Allocation and apportionment of costs Activity Basis of allocation of support costs Governance 62 % Raising tunds Other 380/0 Charitable activities Support costg, apportioned as above, are sliown in detailed under Nole 7. Tanglble fixed assets Depreciatioii 1.% provided at Ihe followiiigy aiiiiiial rates in order to write off each a%gel over 118 C4tiiiiatLd USLlul lifc. C,ompiitcr cquipmcnt 25 % on rcducing balancc 'raxlltion Thc charity is excmpt froin corporation tax on its charilablc activilics. 14 und .Ic¢niintin UnrLsirict¢d luiids C<in bc iiscd in accordance with the charitable objectives at the discretion ot the IruslLLS. R¢strictLd fuiids cali only be iised for particular restricted purposes witliin tlie objccls of tli¢ cliarity. Reslrictioiis arise wheii speLifiLd by the doiior or wheii funds are raised for particular reslricted purposcb. urthcr cxplanation ot- thc naturc and purpi)%e (Il" Ciicli lund is includcd in thc nolcs to the tinancial tcllcmciits. DONATIONS AND LEGACIES 31112123 31112122 CJills Doiialions Cjranls {1) 66,696 12,1100 13,258 66,696 Grants received, included in the above, are as follows., 31112123 31112122 PubliLalion ot'the book 12,000 Page 9 continued...

Iran H rita e Foundation Notes to the Financial Statements - continued for the Y r Endcd 31 December. 202 OTHF,R TRADING ACTIVITIES 31112123 31112/22 Other income 2,816 9,713 INCOME FROM CHARI'fABLE ACTIVI'I'IES 31112123 31112122 Activity Dircct Charitablc Exp Persian Languagc Onlinc 20,1100 RAISING Tr'UNDS Raising dnnations and IL'LJacles 31112123 31112122 Support Costs 50,275 53,941 OthL%r tradlnkw uLtlvltles 31112123 31112122 Support costs 17,393 AggrL&alL ainouiits 67,668 88,3()9 CHARITABI.F ACTIVITIF.S COSTS 31112123 31112122 Cc)urse Grant% Pcr%iaii Languagc Onlinc 3,305 3,400 3,()01 13,nllO Total 10,306 Page 10 continued...

Iran H¢rita ¢ Fouiidation Noteq to the Financial Statements - continued ror the Year Ended 31 Deceniber 2023 GRANTS PAYABLE 31112123 31112122 Grants Direct Charitablc Exp 12,000 1,000 3,400 13,ODO 3,400 SUPPORT C()s'rs Governance co.sts Other Totals Rai4ingi doiiations and ILgacies Utli¢r tradingy aLtivili¢s 8,520 17,393 41,755 50,275 17,393 25,913 41,755 67,668 Supp(irt c().%t.%, iiicluded iii thL above, are a% r()Ilows'. ther 31112123 31112122 Rai4ing doncilion8 iiiid ILg<lLiCS Othcr tr(Iding activilic Total aLlivili¢s Total aclivitic 15,816 2,317 14,001 Compulcr LXPCII.SLS Gcn¢ral officc cxpciisc Cjovcrnancc costs 3,018 3,042 1,814 3,018 1,814 8,-$20 17,-393 33,791 C•overn8nce eosts 31112123 Rdising donations and leg?acies 31112122 Total activities Wages Computer expenses Sundries Legal and professional fees 19,327 9,052 11,562 1,814 32,110 6,949 13,862 1,657 41,755 54,578 Pagell continued...

Tr] H rita e Foundatioii Notcs to the Financial Statements - continued tor the Year Ended 31 D¢cember 2023 NET INCOMi¢.l(Tr.XPEINDITURE) Net income is stated after charging support costs as detailed under Note 7. 10. TRUSTEES, REMUNERATION AND BTr.NEFITS TlILrc Micre iii) tnislees, remuiieralioii or othtir benefils for tl)e year ended 31 Deceniber 2023 nor for tlie year endLd 31 Deceinber 2022. Trustees, cxpcnses TIiLfL WLrL nu tru%lcc¥' cxpcii4L's paid for Ilic ycar cndL(J 31 Dcccmbcr 202.3 nor for the year cndcd 31 DcLcmbcr 2022. .STAFF COSTS 31112123 31112122 W¢)gcs cind 5alarics 28,846 47,926 28,846 47,926 The avcrag¢ m()nihly nuniber of employees during Ihc ycar was as follows.. 3111212.1 31112122 Admiiiistration No employees received einoluirjents in excess ot"£60,000. 12. COMPARATIVF.S FOR THF. STATFMF.NT ()F FINANCIAI, ACTIVITIF.,Si Uiir¥striclcd Restrictcd liidowniciit fuiid fund fuiid Total INCOMF, AND F.NDOWMENTS FROM Doii4lti()ii% ai)d Icgy<lLjLS 64,296 2,400 (?1?,696 Othcr trading L)ctivilics 9,176 537 9,713 Total 73,472 2,400 537 76,409 EXPENDITURE OIY Raising ndS 88,369 88,369 Charitable activities Grants Direct Charitable Exp 3,400 3,400 6,906 6,906 Total 95,275 3,400 98,675 Pagc 12 continued...

Iraii H rita ati Notes to the Financial StatC]T]cnts - continucd for the Year F.nded 31 December 2023 12, COMPARATIVES FOR THE STATF.MF.NT OF FINANCIAL ACTIVITIES- cuntRnued Uni'c%triclcd Restricted Endowmcnt fund fund fund Total tunds NE'f INCOMEI(EXPENDI'fuRE) Tran.sfers between funds (21,803) { 1,000) (1,000) 1,000 537 (22,266) Net movemenl In funds (22,803) 537 (22.266) CONCII.IATION OF FU]YDS Tot<il ftinds broLiglit fonvard )1,646 14.3,997 235,643 TOTAI. fuNDS CARRIF.D FORWARD ()8,843 144,534 213,377 13. TANC:IBI,F. FIXED AS(iF.TS Computcr equipiiient COST At l January 2023 and 31 DcLL'nibLr 2023 300 DEPRLCIA'I'I()N Al l Januaiy 2023 aiid 31 Deceiiiber 2023 300 NFT BOUK VAI,UF. At I I t)cc¥mbcr 2023 Al 31 Deceniber 2022 Pagc 13 continued...

Jran Herila e Foundat?on Notcs to the Financial Statcments - continued for the Year Ended 31 December 2023 14. CREDITORS: AMOUNTS FALLIING DUF. WITHIN ONE YEAR 31112123 31112122 Social security and other taxes PeiiblUII Accnjcd cxpcnscs 1,216 97 3,000 3,600 4,816 .3,097 IS. MOVLMEN'I" IN TrUNDS Net movement in ftinds At 31.12.23 At 1.1.23 Unrestrlctcd funds (i¢n¢riil fuiid 68,843 (47,5.36) 21.307 EndoivmL*nt funds F.ndowmeiit Fund 144,534 2,692 147,226 TOTAL FUNDS 213,377 (44,844) 168,533 Nct movcinLiII iii lund%, iiiLludcd iii IhL ab()vc arc (IS follow%'. Incoming rcsourLCS Rcgoiircc.4 cxpcndcd Movcment ii) lunds Unre$trlcted fuiids (icneral tund 21,3132 (68,918) {47,536) Restrlcted fuiidg RLstriLILd F unds 12,000 (12,000) Endoivment funds Endowinenl Fiund 2,692 2,692 TOTAL FUNDS 36,074 (80,918) (44,844) Page 14 ontinued...

Iraii Herita -Auiid¢lt_ion Notes lo the Financial Statcincnts - continued for thc Ycar Ended 31 December 2023 15. MOVEMENT IN FUNDS - continued Comparatives for movL'ment in funds Net movement in ftinds Transfers between lids At 31.12.22 At 1.1.22 Unreslrlctcd funds CILnLrdl fuiid 91,646 (21,803) 68,843 RL'Strlcted funds RL'.gtrictcd Fund (1,000) 1,000 F.ndnwmenl I'unds F.ndowinLnl Fuiid 141,997 537 144,534 Tn'fAL FUNDS 235,fi43 (22.261)) 213,377 ComparalivL nel Inoveinenl iii tiinds, includecl in thL above are as follows.. Tiicomiiig resources R¢sourccs expuiidcd MovcmLnl iii funds UnreslrlctL,d t'unds GLncral liiiid 73,472 (95,275) (21,803) Restricted I'unds Rcstrictcd Fiunds 2,400 (3.400) {I,000) Lndowmcnt funds ndowinLiit F uiid 537 537 TOTAL liUND 7C>,409 (98,675) (22,266) Pagc 15 continued...

Iran H rita e Foundation Notes to the Financial Statenients - continued tor the Year Endcdj l December 2023 15, MOVEMENT IN FUNDS - ¢ontinued A current year 12 months and prior year 12 months combined position is a% follows.. Net movement in fund Transfers between At 31.12.23 Ai 1.1.22 Unrestrictcd funds CJenerc11 fiiiid 91,646 (69,339) (1,000) 21,307 RestriLted t'unds RL4triclcd Punds (1,000) 1,000 F.ndowmLint I'unds F.ndowincnl F'und 141,997 3,229 147,226 TOTAL FUNDS 21.S,643 (67,110) 168,533 A Lurrenl year 12 Inonths aiid prior year 12 m(Inihs combined net movement iii funds, included in the above are as follows.. Inconiing resourccs RL'%our¢cs cxpLnded MovcniLnt iii fiinds UnrLlStrietLd funds GLncrcil fuiid 94,854 {164,19.3) (69,-139) RL'striLtL'd funds RrstriLILd P unds 14,400 (15,400) (1,000) Endoivment funds EndowinLnl Puiid 3,229 3,229 TOTAL FUNDS 112,483 (179,59.3) (67,110) Page 16 continued...

Iran Herita ¢ Foundation Notes to the Financial Statements - continucd for the Year Ended 31 Decembcr 2023 16. RELATED PARTY DISCLOSURES Th¢ Foundation was involved in the establtshment ot. a charity, IHF America, in the United States. IHF America and the Foundation qhare a number of trustees and have common purquits, but the two are considered to be independent. The Foiindation occiipies office spnce 011 the premises of Asia Hoiise, a comp&iny in wliich one of the Tni%tce% is a dirLLlor. Page 17

Jran Herila e Foundation Dctailed Stat¢ment of Financial Activitics for thc Year Ended 31 DecembeT 2023 31112123 31112122 INCOME AND LNDOWMENTS Donations and legacies (iifts Donations (irants {J) 66,696 12,QOO 13,258 66,696 ()tlier tradlnkj aLttvStles OihLr iiic()mc 2,816 9,713 C.harltable actlvltles PLrsiaii Laii&TuagyL Oiiline 20,000 Totul Incomlng resources 36,074 76,409 F.XPF.NDTTURF. Ch#rit&blLi llctlvitlcs DireLI F.xpcn.4c4 Grant8 to individual 6,906 3,400 13,000 13,250 10,306 Support eosts thLir WagFe8 C()mputer expLI)ses (iLnLral ()I'ficc cxpLn.ses (ioveniaiice cosls 15,816 2.317 14,001 1,657 3,018 1,814 25,913 33,791 Governance costs 19,-127 9,052 11,562 1,814 32,110 6,949 13,862 1,657 C()mpiitcr cxpenses Siindries I,egial and professional fees 41,755 54,578 Total resources expeiided 80,918 98,675 Net expenditure (44,844) (22,266) This pagc docs not fom) part of the statutory financial statements Page 18