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2023-03-31-accounts

COVENTRY PANAHGHAR PROJECT

VIOLENCE

TRUSTEES’ REPORT & CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023

CONTENTS

Page
Trustees’ Report
Aims & Objectives, Statement of Public Benefit, 1
Achievement & Performance, Financial Review 2-4
Structure, Governance and Management 4-5
Trustees’ Responsibilities Statement 7
Independent Auditor’s Report 8-9
Consolidated Statement of Financial Activities 10
Consolidated and Charity Balance Sheets 11
Consolidated Cash Flow Statement 12
Notes to the Consolidated Financial Statements 13 to 22

COVENTRY PANAHGHAR PROJECT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 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

We provide range of direct and indirect services to Black Asian Minority Ethnic (BAME) communities their children and their families and primarily to Asian women and girls to alleviate all forms of violence, abuse and poverty on a local, national and international level.

The charity exists to promote the safety of women and children affected by domestic violence and all other forms of violence such sexual violence Honour Based Abuse (HBA), forced marriage (FM), Female Genital Mutilation (FGM) human trafficking by:

Panahghar Safe House Limited (PSHL) was set up with a view to managing government contracts on behalf of the charity to provide a clear audit trail to the funders. As part of Panahghar's strategy to sustain services the management committee agreed that funds will be used to support these contracts.

Significant activities and public benefit

The charity believes that violence and domestic violence is a violation of human rights and works to ensure that women, girls (VAWG) and children have the right to live free from violence, abuse and fear.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing charity's aims and objectives and in planning future activities. The trustees have also considered how planned activities will contribute to the aims and objectives of the charity.

In pursuit of its aims for public benefit, our services benefit the public through the following initiatives:

1

COVENTRY PANAHGHAR PROJECT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

The year has been challenging with COVID - 19. The charity has continued to provide services in these difficult and uncertain times.

We continue providing Community services and refuge accommodation in Coventry. The community services have been funded by Coventry City Council. We continue to self-fund our refuges in Coventry. Coventry City council have also funded for a Early Intervention Practitioner, family support worker and immigration work.

Solihull Council have funded us to provide six refuge bed spaces for women and children and part time a male IDVA service.

Leicester City council have continued to fund us for refuge accommodation and community services for one year after the Hope project closed. We have continued to provide reduced refuge accommodation in Leicestershire which has been funded by Panahghar.

In October 2021 we were successful in securing funding for a pilot project for twelve months with Leicester City Council. This funding for a pilot project was awarded to twelve different local authorities including Leicester by Department for Levelling Up housing and communities (DLUHC). This pilot project is called ‘Respite rooms’ and we have been able to accommodate 5 bed spaces to help the most vulnerable women that are homeless, experiencing Domestic Violence and or are experiencing substance misuse, mental health etc. We are working jointly with New Dawn New Day and subcontracted their well needed services. This project has been very interesting and exciting, and we look forward to the evaluation at the end of the project. Leicester City Council also funded second stage counselling and immigration work.

West Midlands Police and Crimes Commissioner’s Office (WMPCC) have funded a new post for a BAME specialist IDVA and part time Manager.

We have continued to provide support via 24hr Panahghar helpline responding with more language support. We are proud of our staff team, who all speak two or more languages. This has enabled us to provide language support immediately.

The Lloyd’s Foundation have continued to fund us again this year.

We also received very much needed funds from other charitable organisations. These include;

During this period these funds were crucial and covered staffing roles and services.

We continue to work in partnership with other service providers within the cities and have good working relationships, for example, Police, Social Care, MARACS, Health Service, other voluntary organisations within the cities, Local & National Organisations. We are activists in promoting specialist BAME women’s support and services within the wider regional and national platforms. We pride ourselves in being leading practitioners in the field and always endeavour to represent BAME women and their concerns. We have again seen a rise in our referrals over the year and this highlights the importance of specialised BAME organisations like us. We would like to recognise the extra help and support from Imkaan, which has been detrimental in advocating to government on our behalf and supporting our services and staff team.

We are still very much the only specialist BAME Domestic Violence charity in our communities where we work. We would like to take this opportunity to thank our collaborative partners and funders across the regions in supporting Panahghar.

Some of our staff teams have continued to work from home and have slowly started transitioning back to coming back to the office. We have still been providing a high-quality service and have been adapting our services to our service user needs. We would like to acknowledge our staff team’s passion, hard work, commitment and thank them for their continued work and dedication.

At the end of March 2022, we saw the end of Covid regulations and started to adapt and learn to live with Covid. We have learnt to adapt to the changes. Although we have been able to go back to our offices and things have started to return to normality, we are still working and maintaining safety for the service users as well as staff.

2

COVENTRY PANAHGHAR PROJECT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities - Continued

We would like to take this opportunity to thank to our Committee and Board Members for their continued hard work, support and dedicated commitment as always.

FINANCIAL REVIEW

Reserves policy

The trustees keep the charity's reserves under review. Due to the changes in economic climate the trustees agreed to invest free reserves in reconfiguring current services and to fund improvements and development of projects to support the long-term sustainability. Trustees will also ensure that reserve levels are at a level to provide some protection to the organisation and its charitable programmes. This plan seeks to limit any risk arising in the event of a downturn in some of the Charity's various sources of income or an unexpected need for additional expenditures.

The Charity Commission defines reserves as 'that part of the charity’s funds which can be made available to spend for any or all of the charity's purposes once it has met its commitments and covered other planned expenditure. The Trustees are aware of the general legal duty to apply charitable funds within a reasonable time of receiving them.

Therefore, to justify the holding of reserves the charity needs a reserves policy which is based on a realistic assessment of the required reserves.

Income from restricted funds (income which must be applied to the purposes specified under the terms of the agreement or contract for which they were given), cannot be set aside for use in line with the reserves policy as any unused funds must be returned, carried forward or applied in line with the funding agencies requirements.

Unrestricted funds (money generated as a result of fees and charges, or interest on monies invested), is expendable at the discretion of the Trustees in furthering the objects of the charity.

The board of trustees has identified that minimum level of unrestricted funds should be set to counter balance trading uncertainty and provide a base level for stability. A target level of unrestricted funds has been set to allow for growth and for the charity to take advantage of strategic opportunities for the future growth.

Minimum level

Three months operating costs plus an additional fund to cover redundancy costs for all staff plus legal cost associated with winding up.

Target level

Six months operating costs plus an additional fund to cover redundancy costs for all staff plus legal costs associated with winding up.

The current level of unrestricted funds should be set as follows:

The Board of Trustees has approved Coventry Panahghar Project's reserves policy and identified the following reasons to hold reserves:

The total net deficit for the year amounted to £119,221 (2022 Surplus - £109,648) including a loss of £4,171 incurred by PSHL- subsidiary. The net deficit for the year excluding restricted funds was £217,235.

3

COVENTRY PANAHGHAR PROJECT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW Continued

Investment policy and objectives

The trustees have agreed an investment policy to ensure that the charity maximises its return on investment. The policy seeks to mitigate risk in the knowledge of the current economic climate. This policy is reviewed annually.

Funds may only be invested in financial institutions previously approved by the trustees. Any new financial institution submitted to the trustees’ approval must be a recognised financial institution that has first class reputation and is authorised and supervised by the Bank of England or the Building Society Commission. Only Institutions with the highest credit rating will be considered.

FUTURE DEVELOPMENTS

The trustees decide on capacity building, ensuring the sustainability of current provision; maintenance and improvements to our buildings, developing services and programmes; making improvements and having contingency plans in accordance with its Business Plan which is reviewed annually.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Management and organisational structure

The Management Committee of the charity are its trustees. They are supported by a management team lead by Ms Sobia Shaw the Chief Executive, who is currently off on long term sick leave. In her absence the charity are being temporarily lead by Sandra Manak – Interim Chief Executive. Trustees are all from diverse backgrounds and bring with them appropriate knowledge, skills and experiences. The board of trustees are responsible for the overall direction of the charity's operations, its compliance with legislative requirements and ensuring the financial stability.

The trustees aim to meet bi monthly six times a year to review and approve strategic and operational recommendations from the senior management.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment, appointment and induction of new trustees

New trustees are recruited as a result of retirement, resignation, or death of a member of the Board. Expressions of interest are invited in writing to the Management Committee, stating relevant work or life experiences. Potential trustees are invited to an information day by the Interim CEO and then to meet with all or some of the trustees at an informal meeting.

Those remain interested will then be invited to attend a Management Meeting after which a vote will be taken regarding their appointment. Upon appointment trustees are invited to meet a senior member of staff for an induction and are given the opportunity to attend relevant training events and meetings.

4

COVENTRY PANAHGHAR PROJECT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Continued

Organisational structure

The Management Committee of the charity are its trustees for the purposes of charity Act 2011.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1007676

Principal address

3 St Margaret Road Stoke Coventry West Midlands CV1 2BT www.safehouse.org.uk Trustees Mrs Amerdip Samra Treasurer Ms Samia Laats Chair Ms Sukwinder Kaur Ms Rajinder Gill Ms Charanjeet Kensey

Auditors

Armstrongs Accountancy Ltd Chartered Accountants and Statutory Auditor 1&2 Mercia Village Torwood Close Westwood Business Park Coventry West Midlands CV4 8HX

Bankers

Barclays Bank 25 High Street Coventry CV1 5QZ

Administration

Ms Sobia Shaw Chief Executive Officer Mrs Sandra Manak Interim Chief Executive Officer

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COVENTRY PANAHGHAR PROJECT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Related parties

The Charity controls Panahghar Safe House Limited (PSHL) and Management Committee appoints the Directors of the Company. There are clear structures and processes of communication between the Company and Charity. The Company hold Board Meetings four times a year and report back to the Management Committee.

PSHL is a Company Limited by Guarantee and to share the charitable objective as Coventry Panahghar Project. The principal activities of the Company are:

The Company has charitable purposes and exists to promote the safety of women children and men affected by all forms of violence and abuse

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have examined the principal areas of the charity's operations and considered the major risks which may arise in each of these areas. In the opinion of the trustees the charity has established resources and review systems which, under normal conditions, should allow the risks identified by them to be mitigated to an acceptable level in its day to day operations.

GOING CONCERN

The trustees have considered the reserves policy above and the working capital requirements for the period of 12 months from the date of this report and have reasonable expectation that the charity has adequate resources to continue its operations for the foreseeable future. Accordingly, the trustees continue to adopt going concern basis for the preparation of the annual report and accounts.

6

TRIISTEES REgPOP•SlBII,ITIF,S STA TF.MF,NT InJ%iee% Air TIs)1)114ilIlL II)T' l)Iyiniiii8 Ilie 1'ni￿tel. Rq￿ fiThl the fin•neifrl ￿llementI in th￿Ord￿Ce with )IiiAble laii. Ind Ilniied KinBdL)m Ac¢c?unlin8 81Hnd8rdi IlJnitfAI Kin8dom (lener•lly Aecwed A¢c4)Ufflin8 Pri¢ti¢e). The l&ii' fvwliLftble til chftiitici in r.n8lAiid Wile#, lh¢ Chtiriti¢i Aet 2011. Charity (A¢cothit# Ind ReFOrts) Rc8uIAtion% tiIN)X 8nd thc ￿1)i'll11)ll• (If thc t￿81 ded require Ihc irnieei l() prepare fin0￿1￿1 ￿lleMentS for ¢¥h linanLIAI I'¢￿" i%"hiLh Biit 8 tsike rtnd flir i'iJi' lif th¢ ￿￿1¢ of the chftrily ond of lh¢ incornLn8 reym1r¢￿ #nd AtYli¥J(ti)n of includin8 the Ine(Ime And cxpendilur¢, of the charity for Ihot pen'(xl. En weparrn8 Ihose finonciil iiiemeni8. the I￿￿e¢S are required to sele¥1 wiIAbl¢ accounlin8 rrf)li¢ie5 ai)d then Apply them ￿￿11qten1]y', obe]I'e the meth(K18 and pnncipl¢i in ihe Lhariiy SORI). mAk-e.iud8emenis and estimg(cg Ilial ore rellsonAbl¢ dnd pn]dent', slaie ii'h¢iher applicable Ac¢owilin8 siand8rds hAve been followed, yubject to any mAt¢rio1 departur¢J discloxd and eKylainoJ in the finhncial ￿&teMents. prepare the fmAnci&l 518i¢rnents on th¢ 80in8 conc¢m b￿19 unless it 18 Inlppropriite to preyume that th¢ cI￿lty 11 contthue in busine8S The ¢nLSte¢s are responsibl¢ for kttpin8 proper a¢countin8 r¢¢ords which disclose with r¢O￿A#bEe a￿Ur￿ At any time the financiel ￿Sli10n of th¢ ¢hariry and to enabl¢ them to ensure thai the financial staiemenls c(Knply with the Choritiu Aci 2011. the ChariTh' (Accounts and Rqx)rtsl Re8ulations 2￿)8 and th¢ provisions of the tNst d¢¢d (Govemm$ drtuma)t). Thth. ar¢ Ilw respon$ible for $8feBu&rdin8 the assets of the ch￿lty ond hence for t#king r¢&wbl¢ steps for the prn'eniiots w)d det¢¢tion of fraud and oth¢r iffe8ularitie5, Approia by order of the ￿8rd oftrust¢¢s on 27 January 2023 And yi8ned on its behalf by.. Mrs Amerdip S8mr . TTUStee

Independent auditor’s report to the trustees of Coventry Panahghar Project

Report on the audit of financial statements

Opinion

We have audited the financial statements of Coventry Panahghar Project (the 'charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity's trustees, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

However, because not all the future events or conditions can be predicted, this statement is not a guarantee as to the Charity’s ability to continue as going concern.

Reporting on other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

8

Independent auditor’s report to the trustees of Coventry Panahghar Project

Responsibilities for the financial statements and the audit

Responsibilities of the trustees for the financial statements

As explained more fully in the Trustees Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Independent Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of this report

This report is made solely to the charity’s trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Other matters on which we are required to report

Charities Act 2011 exception reporting

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Armstrongs Accountancy Ltd Chartered Accountants and Statutory Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 1&2 Mercia Village Torwood Close Westwood Business Park Coventry West Midlands CV4 8HX

Date: 29 January 2024

9

COVENTRY PANAHGHAR PROJECT

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Community support services
Sheltered supported accommodation
Investment income
4
Total
EXPENDITURE ON
Fundraising charitable trading
Expenditure on charitable activities
Community support services
Sheltered supported accommodation
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
3,689
38,578
688,151
703
731,121
2,776
248,548
697,032
948,356
(217,235)
826,443
609,208		 Restricted
fund
£
-
-
1,233,489
-
1,233,489
-
267,118
868,357
1,135,475
98,014
396,841
494,855		 2023
Total
funds
£
3,689
38,578
1,921,640
703
1,964,610
2,776
515,666
1,565,389
2,083,831
(119,221)
1,223,284
1,104,063		 2022
Total
funds
£
21,801
4,915
1,523,947
5
1,550,668
3,991
639,057
797,972
1,441,020
109,648
1,113,636
1,223,284

10

Note 2023 Oroup 2(r23 ChArity 2022 (irrnjp 2022 Clwity FIXED ASSETS Tangibl¢ 14 344.057 344.057 348.914 348.914 344,057 344,057 348,914 348.914 CURRENf ASSETS DelAor8'. amounts fallins due iiithin one i'¢ CasFi It Bank. in hond 324.235 347.252 305,119 324J27 535.561 531.927 734.546 733,347 859.796 879,179 1.039,C65 1.057,674 CREDrroRS.. Amounis fallin8 due withm otte year 16 (99.790> (74,942) (165295) (146.05)) NET CURRENf ASSETS 760.(thS 804,237 874.370 911.624 TOTAL ASSETS LESS CURREI¥T u￿BIL￿llES 1,104,063 ,148.294 1,223284 I,2￿.538 NET ASSETS ,104.IX53 1,148,294 1.223,284 1 *60.538 R¢strieted fuods Uw¢fflrirtoJ futyjs 18 494,855 494,855 653,439 3%.841 826.443 396,841 TOTAL FUNDS 1,104.063 1.148.294 1.223.?84 1260,538 Tr rmaocial s￿￿]¢￿18 were approved by th¢ Board of Tn￿¢¢8 on 28 January 2024 ard weTo si8ned its behalf try.. Mrs knerd¥ SamrA

COVENTRY PANAHGHAR PROJECT

CONSOLIDATION CASH FLOW STATEMENT

FOR THE YEAR ENDED 31[ST] MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
20
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
(192,151)
(192,151)
(7,537)
703
(6,834)
(198,985)
734,546
535,561		 2022
£
101,453
101,453
(20,136)
4
(20,132)
81,321
653,225
734,546

12

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

General information and basis of preparation

Coventry Panahghar project is a registered charity. The principal place of business is given in the charity information on page 4 of these financial statements. The nature of the charity’s operations and principal activities are provided on page 1.

The financial statements of the charity, 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 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The group claimed exemption from the preparation of its cash flow statement on the basis that the consolidated cash flow statement is presented in the group financial statements.

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Basis of consolidation

These financial statements consolidate the results, assets and liabilities of the Coventry Panahghar Project and its wholly owned subsidiary Panahghar Safe House Limited on a line by line basis. No separate Statement of Financial Activities or Income & Expenditure Account is presented for the Charity. The charity has gross income of £1,964,609 (2022: £1,550,668) and net deficit of £112,244 (2022 Surplus - £113,639).

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

13

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

ACCOUNTING POLICIES- Continued

Fund accounting

Unrestricted funds consist of funds which the charity may use for general purposes at the Trustees’ discretion; this includes designated funds which are designated for specific purposes.

Restricted funds represent income contributions which are allocated to a particular purpose in accordance with the donor’s wishes.

All investment income, gains and losses are allocated to appropriate funds.

Resourced expanded

All the expenditure is accounted for on accrual basis. Liabilities are recognised as resources expanded as soon as there is a legal constructive obligation committing the charity to the expenditure.

Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year either by reference to staff time or space occupied, as appropriate.

Governance costs are those incurred in connection with administration, strategic planning for the future, external audit and all the costs of complying with constitutional and statutory requirements, such as the costs of Board and Committee meetings and of preparing statutory accounts and satisfying public accountability.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not provided
Office equipment - 33% on reducing balance
Furniture, fixtures & fittings - 33% on reducing balance
Computer equipment - 33% on reducing balance

Investments

Fixed asset investments are valued at cost less provision for impairment, as these assets are not readily saleable and a reliable market value is not readily ascertainable.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

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.

Provisions

Provisions are recognised when the charity has a present and legal or constructive obligation as a result of a past event, it is probable that a transfer of economic benefit will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

Taxation

Coventry Panahghar Project, as a registered charity, is exempt from taxation on its income and gains falling within section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gain Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year.

Pension scheme

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

14

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2. VOLUNTARY INCOME

Donations & gift aid 2023
£
3,689		 2022
£
21,801

3. INCOME FROM SUBSIDIARY TRADING ACTIVITIES

Coventry Panahghar Project owns Panahghar Safe House Limited (A Company Limited by Guarantee). The results for the year, as extracted from the audited financial statements are summarised below:

Turnover & other income
Administrative expenses including gift aid
Retained profit/(loss)
Net current assets and shareholders fund		 2023
£
2022
£
1
-
4,172
6,797
(4,171)
(6,797)
(44,231)
(40,060)

15

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4. INVESTMENT INCOME

Deposit account interest 2023
£
703		 2023
£
5

Interest received of £703 (2022: £5) includes interest received by Panahghar Safe House of £1 (2022: £NIL)

5. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

2023 2022
Activity £ £
Grants Community support services 38,578 4,915
Rent receivable Sheltered supported accommodation 688,151 705,829
Grant Income Sheltered supported accommodation 1,233,489 818,119
1,960,218 1,528,863

6. COSTS OF FUNDRAISING CHARITABLE ACTIVITIES

Printing, postage & stationery & insurance
Legal & professional
Bank charges		 2023
£
-
2,669
106
2,775		 2022
£
1,428
2,442
121
3,991

7. CHARITABLE ACTIVITIES COSTS

Direct costs Support costs Totals
(See note 8) (See note 9)
£ £ £
Community support services 382,824 132,842 515,666
Sheltered supported accommodation 1,435,058 130,331 1,565,389
1,817,882 263,173 2,081,055
======= ======= =======

16

COVENTRY PANAHGHAR PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Other operating leases
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Events & seminars
Sundries
Repair & maintenance
Cleaning & decorating
Travel & subsistence
Tv & entertainment
Training costs
Professional fees
Security		 2023
£
981,820
378,673
48,389
42,779
67,718
20,664
3,944
8,491
4,133
121,973
38,165
10,406
4,138
9,780
2,725
74,004
1,817,882		 2022
£
578,058
281,518
29,965
47,991
51,301
21,748
4,675
3,416
5,576
64,320
37,614
2,356
3,141
9,223
11,020
20,545
1,172,467

9. SUPPORT COSTS

Management
£
Community support services
57,812
Sheltered supported accommodation
72,695
130,507		 Governance
Finance
costs
£
£
-
75,030
13,985
43,651
13,985
118,681		 Totals
£
132,842
130,331
263,173

Support costs, included in the above, are as follows:

Community
Sheltered
support
supported
services
accommodation
£
£
Wages
36,126
-
Social security
5,186
-
Pensions
-
-
Rates and water
-
1,349
Insurance
-
8,235
Light and heat
-
36,139
Telephone
-
3,259
Sundries
4,750
7,623
Travelling & subsistence
-
1,717
Computer costs
11,750
14,373
Bank charges
-
194
Auditors’ remuneration (Group)
1,397
Depreciation of tangible fixed assets
-
12,394
Accountancy
664
8,816
Legal and professional fees
74,366
34,835
132,842
130,331		 2023
Total
activities
£
36,126
5,186
-
1,349
8,235
36,139
3,259
12,373
1,717
26,123
194
1,397
12,394
9,480
109,201
263,173		 2022
Total
activities
£
152,060
11,871
2,078
4,471
3,374
7,167
907
8,563
-
26,663
286
1,375
14,785
6,895
25,442
265,937

17

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES CHARITY

Unrestricted Total funds
fund Restricted fund
£ £ £
INCOME
Donations and legacies 21,801 - 21,801
Charitable activities
Community support services 4,915 - 4,915
Sheltered supported accommodation 675,279 848,669 1,523,948
Investment income 2 2 4
Total 701,997 848,671 1,550,668
EXPENDITURE
Charitable activities
Community support services 639,057 - 639,057
Sheltered supported accommodation 8,973 788,999 797,972
Total 648,030 788,999 1,437,029
NET INCOME/(EXPENDITURE) 53,967 59,672 113,639
RECONCILIATION OF FUNDS
Total funds brought forward 809,730 337,169 1,146,899
TOTAL FUNDS CARRIED FORWARD 863,697 396,841 1,260,538

11. TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' Expenses

There were no trustees’ expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

18

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

12. STAFF COSTS

Total staff costs for the year for Coventry Panahghar Project and Panahghar Safe House Ltd were as follows:

Wages and salaries
Social security costs
Other pension costs		 GROUP
2023
£
2022
£
925,997
678,963
77,080
50,470
20,055
14,636
1,023,132
744,067		 CHARITY
2023
£
2022
£
925,997
678,963
77,080
50,470
20,055
14,634
1,023,132
744,067

The average monthly number of employees during the year was 39 (2022: 33) and there were no employees with emoluments exceeding £60,000 during the current or prior period.

13. TANGIBLE FIXED ASSETS CHARITY

COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Freehold
property
Office
equipment
Furniture,
fixtures &
fittings
Computer
equipment
£
£
£
£
318,895
58,696
142,440
108,865
-
6,600
936
-
318,895
48,061
142,440
108,865
-
25,499
129,040
107,272
-
7,445
4,422
526
-
32,944
133,462
107,798
318,895
15,117
8,978
1,067
318,895
15,962
12,464
1,593		 Totals
£
628,896
7,536
618,261
261,811
12,393
274,204
344,057
348,914

19

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Amounts owed by group undertakings		 GROUP
2023
£
2022
£
288,588
87,240
35,647
217,879
-
-
324,235
305,119		 CHARITY
2023
£
2022
£
288,588
87,240
35,647
215,915
23,017
23,976
347,252
324,327

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Taxation and social security
Accruals and deferred income		 GROUP
2023
£
2022
£
17,315
18,452
82,475
146,843
99,790
165,295		 CHARITY
2023
£
2022
£
2,688
3,896
72,254
142,153
74,942
146,049

16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

Unrestricted
funds
£
Fixed assets
344,057
Current assets
364,941
Current liabilities
(99,790)
609,208		 Restricted
funds
£
-
494,855
-
494,855		 2023
Total
funds
£
344,057
859,796
(99,790)
1,104,063		 2022
Total
funds
£
348,914
1,039,665
(165,295)
1,223,284

20

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. MOVEMENT IN GROUP FUNDS

Net movement Net movement
At 1.4.22 in funds At 31.3.23
£ £ £
Unrestricted funds
Coventry Panahghar Project-General funds 866,503 (213,064) 653,439
Panahghar Safe House Ltd- Trading subsidiary (40,060) (4,171) (44,231)
Total Unrestricted funds 826,443 (217,234) 609,208
Restricted funds
Coventry Panahghar Project-Designated funds 396,841 98,014 494,855
TOTAL FUNDS 1,223,284 (119,221) 1,104,063
Net movement in funds, included in the above are as follows:
Incoming Resources Movement in
resources expended funds
£ £ £
Unrestricted funds
Coventry Panahghar Project-General funds 731,120 (944,184) (213,064)
Panahghar Safe House Ltd- Trading subsidiary 1 (4,172) (4,171)
Total unrestricted funds 731,121 (948,356) 217,235
Restricted funds
Coventry Panahghar Project-Designated funds 1,233,489 (1,135,475) 98,014
TOTAL FUNDS 1,964,610 (2,083,831) (119,221)
18. COMMITMENTS
GROUP CHARITY
2023 2022 2023 2022
£ £ £ £
At 31 March 2023, non-cancellable lease 31,348 31,348 31,348 31,348
commitment for properties

Lease agreements are subject to three months’ notice.

19. RELATED PARTY TRANSACTIONS

The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

21

COVENTRY PANAHGHAR PROJECT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

20. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Increase in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operations		 2023
£
(119,221)
12,394
(702)
(18,157)
(66,465)
(192,151)		 2022
£
109,648
14,785
(4)
(138,937)
115,961
101,453

21. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.22 Cash flow At 31.3.23
£ £ £
Net cash
Cash at bank and in hand 734,546 (198,985) 535,561
Total 734,546 (198,985) 535,561

22