COVENTRY PANAHGHAR PROJECT Panahghar safehouse.org.uk SUPPORTING WOMEN AND CHILDREN AGAINST DOMESTIC VIOLENCE TRUSTEES, REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
CONTENTS Page Trnslees, Report Aim5 & Objectives, Statement of Publi¢ Benefit. Achievement & Perforn)ance, Financial Review 24 Structure, Governanc£ Management Trustees. Responsibilities Statement Independent Audltor's Report &9 Consolidated Statement of Flnantial Activlties io Con801idited and Charity BAlan¢e Sheet8 li Notes to the Consolidated Fln8neAal Ststements 12to20
COVENTRY PANAHGHAR PROJECT TRUSTEES? REPORT FOR THE YEAR ENDED 31 MARCH 2024 The TnteeS prescnt their report with the financial statements of the Charity for the year ended 31 fknh 2024. The Trustees have adopted the provisions of Accounting and Reporting by Chlties.. Statement of Recommended Practice applicable to charities Preparing their accounts in accordance wilh the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and Aims We provide range of direct and indirect services to B1k Asian Minority Ethnic (BAME) ¢ommunities their children and their families and primarily to Asian women and Birls to allevi*e all fonns of violence, abuse and poverty on a lo¢, national and international level. The charity exists to promote the safety of women 2nd children affected by domestic violence and all other fonns of violence such sexual violence (SV), Honour Based Abuse (HBA), forced marriage (FM), Female Genilal Mutilation (FGM) human tratyicklng (HT) by.. Offering safe emergency temporary accommodation. Offering appropriate and accessible support serdlces. Communic&ting the messag¢ that domeslic violcnce and violence in all its forms is unacceptable and Promoting and Providing action to pr¢v¢nt it. Promoting policy and besl practire that respond to women, girls and children's safcty, well-being and needs. Panahghar Safc House Limited (PSHL) was sel up with a view to managing 8overnment contracts on behalf of the charity to provide a clear audit trail to the funders. As part of Panahghavs slrategy to suslain services the management committee a8reed that funds will be used to supp)rt these contracts. Slgnificant ge¢ivliies and publlc benefit The charily bclieves that violence and domeslic violence is a violation of human rights and works to ensure that women, 8irls (VAWG) and ¢hildrcn have the right ts live free from violence. abuse and fear. The Trustees wnfirni that they have referred to the 8uidan¢¢ contain¢d in the Charity Commission's gener81 8uidanee on public benefit when reviewing chariiy's aims and objectives and in planning future activities, The Trustees have also on5id¢red how planned activities will contribute lo the aim$ and objectives of the chArity. In pursuit of its aims for public benefiL our seryices benefit the public throu8h the following initiatives.. To provide safe. $CCUTe temporary accommodation and counselling support 5ervTce to women, gir15 and children. To provide advi¢e, inforn]ation and advocacy to victims and survivors of violence and abuse. To raise awareness of the issues which are faced by victims and survivors of violence and abuse. To ensure victims and suryivor5 of violence and abuse obtsin the legal and statulory benefits and redress to which they are entitlcd. To ensure appropriate 5UPPOrt and play opportunities for children and a safe environment for children to live and recover from th¢ effects of violence and abus¢.
covEKrRY PANAHGHAR PROJEcr TRUSTEES, RKPORT FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charliable Metivltles W¢ have made some decisions 8nd tsken action on the following within the organisation to improve our services. These were: We made the decision to move from ow Casc management system -synthesis.from Lamplight to Oasis frorn IT Wotks. We put a Business Plan together for the ncxt 3 years. Refurbished our refuge accommodation and we also started the proc¢ss ofrebranding Panah8har. In 2022-2023 Panahghar SUPPKJrted 410 in service, we have accommodated 173 women with 47 children in our refuges the rest were supported in our refuges across both West Midlands and Easi Midlands. Others were supported through outreach and IDVA services. We have covered 28 different languages and dialects in house during the y&qr and supwirted 196 women who were NRPF. Our Training OffIr provided extcrnal and internal training and put together new training packages which are reviewed each year. Grydnts And Conlracts We continue providing Community serrfices in Coventry which have been funded by: Coventy City Council, Coventy City Council {HPR Partnership) , Early Intervention Projpxl (EIP). The Coventy City Council have also funded for a Family Support WoTkcT for our refuges and an Immigration Prnctitioner Leicester BME Refuge and Accommodation Related Support ntract started last year. Leicester City Council also funded for Second Stage Acwmmodation, an Immigralion Practitioner, a Counselling Service & Respite Rooms- Kirpa Project. Solthull Metropolitan Borough Council fund the BME Refii8e Services. Additionally* we w¢r¢ also funded for a Part-time IDVA. West Midlands Police and Crime$ Commissioner's OITi¢e (WMPCC) have continued to fiind our West Midlands Forced Marriage and Honour Based Abuse 24n helpline which we ran in partn¢rship with Roshni thi$ project ended DeMber 2022. WMPCC hav¢ also funded tDVA servicks in Coventry. The Lloyd's Foundation have continued to fund us again this year with unrestricted funds that have been much needed. • Henry Smith Trust- funded for outreach services in Coventy Rosa Fund - helped with Counsellor post. Imkaan Funding- They also gave an additional grnnt for emergency funding. The Caring Family Foundation- funding for Groupwork DIYYA Project Tes¢o- Groundwork UK and provided food for service users. We continue to WO ¢ollaborntively with other scrvice providers within the cities and have good working relationships. for example. Poli¢¢. Social Care, MARAC. Health Service, other voluntary organisations within the cities Local & National Organisation5. We are acttvists in promoling BAME women's support and services within the wider regional and national platfonns. We pride ourselves in being leading prdctltioners in the fi¢ld and always endeavour to represent BAME women )d their concerns. We have again seen a rise in our referrals over the year and this highlights the importance of specialised BAME organisations lik¢ ours. We would like to thank all our partners across the Tegion5 in supportlng us, wllectively our services bave supported many high-risk vulnerable women and their rhildren in aexommodation and community services to access 5UPPOrt.
COVENTRY PANAHGHAR PROJECT TRUSTEES. REPORT FOR THE YEAR E,DED 31 MARCH 2024 ACEIIEVEMENT AND PERFORMANCE Charitable acdvltie5 - Continued Our staff team have been outstsnding dealing with new changes and dealing with difficult and complicated rase5. They have still been providing a high-quality servicc and have been mor¢ than accommodating in adapting io help and support the service users coming.to us. We would like to acknowledge their hard Work and commitment and thank them for thoir conlinued work and dedication. We have continued with our annual review of ulilities and this year the costs have more than doubled and we again have taken advantage of switching suppliers. The coslwof-living rise has affected our charity, stsff and seTvice users in a big way. FINANCIAL REVIEW Reserves pollcy The Trustees keep the ch&rity'5 reserves under review. Due to the changes in econornic climate the Trustees agreed lo invest free reserves in reconfiguring current services and to fund improvements and development of projects to support the long-terni 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 th¢ ¢vent of a downturn in some of the Charity's various sources of incorne or an unexp¢¢ted need for additionaj expenditures. The Charity Commission defines reserves as Ihat part of th¢ charity's funds whi¢h ¢An be made available to spend for any or a]1 of the charity's purposcs once it has met its ¢ommitment5 and ¢overed other planned expenditure. Th¢ Trustees are aware of the general legal duty to Apply ebaritable funds within a reasonable time of r¢¢eiving them. Therefore, to justify the holding of reserves the charity needs a Reserves Policy which is based on a realistic asse55ment of the required reserves. Income from restricted funds (income which must be applied to the purposes specified under the tenns of the agreement or contract for which they were given), cannot be set &side for use in line with the Reseryes Policy as any unused funds must be returned, carried forward or applied in line with the funding agencies requirernents. Unr¢Strict 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 TNstees has identified that minirnum level of unrestricted funds should be set to counterbalance trading uncertainty and provide a base level for stability. A target level of unrestricted funds has been s¢1 to allow for growth and for the charity to tske advantage of strategi¢ opportunities for Ihe future growth, Th¢ Current level of unTe$trictcd funds should be set as follows: Minimum level Three months operating costs plu5 an additional fund to cover redundancy costs for all staff plus legal cost associated with winding up. Turgei level Six months operating costs plus an additional fund to cover redundancy costs for all staff plus legal costs associated with winding up. The Board of Trustees h&8 approved Coveniry Panahghar Projeces reserves policy and identified the following rOnS to hold reserves: To provide financia] stability to enable us to continue to achieve its obje¢tive during challenging trading periods. To allow us to take advantage of strategic development opwrtunities and plBn for future growth. To enablc us to make investment decisions in accordance with the tnvesttnent policy and enable us to consider opportunistic inveslment5 which may not be within strategic plan. The total net outgoing resource5 for the year amounted to 119,221 (2022 - surplus £109,648) including a loss of £4,171 incurred by PSHL- subsidiary. The nct deficit for the year excluding restricted funds was £217,235.
COVENTRY PANAHCHAR PROJEcr TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW-Continued Invtstment polity ind objectives The Trnstees have agreed an investment policy to ensure that the charity maximises its relurn on investm¢nL The poli¢y s¢eks to mitigate risk in the knowl¢dgc of the Currenl economic climate. This policy is reviewed annually. Funds may only be invested in financial institutions previously approvcd by the Trustees. Any new financial institution submitted to the Trustees. approval must be a re¢ognis¢d financial institution that ha5 first class reputation and is aulhorised and supervised by the Bank of England or the Building Society Commission. Only Insli¢utions 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 new Business Plan which is reviewed annually. rRuUKE, GOVERNANCE AND MANAGEMENT Governing doeument The charity is controlled by its 8overnin8 documenL a deed of trusL and Constitutes an unincoTporated Charity. Manggement and organl$ational strueture The Mana¥ement C,ornmittee of the charity are its Trustees, They are supported by a management team lead by Ms Sobia Shaw the Chief Executivc, who is ¢urrently off on lon8 tern) 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 lh¢ ¢harity'S operations, its compliance with le8islative r¢quirements and ensuring the financial stability. The Trustees aim to meet bimonthly six times & year to revi¢w and approve strategic and operdlional recommendations from the senior management. STrUCTURE, GOVERNANCE AND MAIYAGEMENT Recruitm¢n( appolntment and Induction of new lrnstees New Trustees are recruited as a resuli of retirement, r¢signalion, or death of a member of ihe Board. Expressions of inlerest are invited in writing to the Management Committee, stating levant work or life experiences, Potential Trnstees are invited lo an information day by the Interim CEO and then lo mcet with all or some of the Trustees at an infornial Meetin8. 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 ar¢ given the opportunity to attend relevant training events and meetings.
COVEiYfRY PANAHGHAR PROJE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Contlnued OrganisationAI strnrture The Management Committee of the ¢hartty are its trusiees for the puryNJses of chaTity Act 2011.. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1007676 PrindpAI address 3 St Margaret Road Stoke Coventry West Midlands CVI 2BT ehouse.or y u Trustees Mrs Amerdip Samra Ms Samia Boniface (Previously known as Samia Laats) Ms Sukwinder Kaur Ms Rajinder Gill Ms Charnjeet Kaur Kensrey Ms Navpreet Virk (appointed 22.1.2024) Treasurer Chair Auditors Arnistrongs Accountancy Ltd Chartered Accounlants and Slatutory Auditor 1&2 Mer¢ia Village Torwood Close Westwood Business Park Coventry Wesl Midlands CV4 8HX Bgnkers Barclays Bank 25 High Street Coventry CVI 5QZ Adminlstratlon Ms Sobia Shaw Mrs Sandra Manak Chief Execulive Officer Interim Chief Executive Officer
COVENTRY PANAHGHAR PROJECT TRUSTEES* REPORT FOR THE YEAR ENDED 31 MARCH 2023 Related parti¢$ The Charfftty controls Panahghar Safe House Lirnited (PSHL) and Management Cornmittee appoints the Directors of the Company. There are clear strnctures and proresses of communication between the Company and Charity. The Company hold Board Meetings four tirn¢$ a year and report ba¢k io the Management Committee. PSHL is a Company Limited by Guarantee and to share the charitable objective as Coventy Panahghar Project. The principal activities of the Company are: To address all forms of violence, abuse, distress and maltreatment from spouses, family, mMunItieS andlor stn(ctUTes - to promote humanitarian, environmental. educational, developmentsl, thc relief of poverty and encourage economi¢ and social well-being amongst vulnerable groups. primarily but not exclusively. women and children from Black Asian Minority Ethnic and Refugee backgrounds, loc&lly. nationally. and internationally. To establish, organi5e, man8ge, facilitate andlor provide assistance. support, advocacy, legal WOTk, inforn]ation and advice, primarily in the pursuance of physical and emotional well-being and independence through encouraging self-help, social, educational. economic and recrcational pursuits, proje¢ts, programmes Services and initiatives, with a view to increasing service users, social capital, enabling them to a¢5$ other a¥encics, networks, individuals and resources for their lon8-tsrni sustsinability and advllncement; To raise public awareness by collaborating with voluntary organi5&tion5, local authorities, local resident5, groups, communities and local organisations in a common effort to provide services enabling individuals to move forward with their lives The Cotnpany has charitable purpK)5es and exists to promote the safely of women children and men affected by all fomis of violence and abuse Offering safe temporary accommodation Off¢ring appropriate support services Communicating the message that violence and domestic violence and abuse is una¢cepiable and prornoting action to prevent it. Promoting policy and besi prnolioe that respond to women men and children's needs. Risk management The trustees have a duty to identify and review ihe risk5 to which the charity is exposed and to ensure appropriate ntrols are in place to provide reasonp4bl¢ assurance against fraud and error. The truslees have examined the principal areas of the charlty's operation5 and considered the major risks which may arisc in cach of these areas. In the opinion of the Irustecs the charity has established resources and review systems which. under norn]al 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 alx)ve and the working w)ital requirements for the period of 12 months from the date of this report and have reasonable expectation that the charity has adequate resouTces to continue its operations for the foreseeable future. Accordingly, the trustee5 continue to adopt going concern basis for the preparation of the annual report and accounts.
I14USTF.ES RLSPONSIIIII.ll'lF:14 STAI'fr.MEN'r Thc trujlcu ur¢ reiponiiblc fui pr¥7>Arin¥ Ihe Tru6't¢¢i' Reptrn WKI fJnanci•l ilaicmcnii iii acrdIn will, applicublc law ond Vniled King(Jom AccoiinlinH Sthmd4rdA Iunlicd Kingdom Gffjeralty A¢¢¢pt¢d Acc4xinlin¥ SJia¢lj¢¢J. Th¢ low 4ppliuble io rharilia In EnBlaThl lind W•ki. Ihe Charili¢• A¢1 2011. Chuily (A¢couni• and Rtwjrlj) R¢guJo1ionA 21JIB and ih¢ proviiionK (If th¢ truji decd r¢quir¢8 ihe Irwilecs l() pr¢pare fIne11 ilalL'uJents f•r c8¢h rbnancial y¢•r whi¢h give t In al (•ir view fh¢ ilMi¢ of offoir• of ih¢ charity of the Inu)min¥ r¢Jurcci and appli¢Blion of r¢•our¢es, incltMIiDB lh¢ incomc #nd CArnllYrc. of ihe rhiriiy for thai perioll. In pr¢paTin8 thosL' rinLn¢i&l 114iement& the (ruiieei Ire Fequir¢d li) leleci iuithbl¢ occounlin8 p(Trlici¢$ aiid Ilieti am)ly ih¢m ¢oniiilcn¢ly: obKrve the meihoth and prilpleS iii ¢he Chjrity SORP; mok¢ jud2ement¥ aimj cil1mmi ihat arc rujonable And rythnl; Ilote whcthcr ppplicable acLuuntin¥ siaiidard8 hJv¢ Ixen lollow¢d, yuhjKI any m8t¢rl41 depirnwes diKlod and cxplained in lh¢ linancial StalentS. prq)Arc ihc lln8ncial it¥tLmi'nis vii ihc uoinu ¢onceni b•iii unlug li 1$ inar4Th>pri•l¢ 10 pr¢fiume i1 lh¢ ¢harily will ¢oniinue in bu•in¢Js1. Th¢ Iruilees ore reOnSibl¢ for kL¢piny, pri)p¢r ll¢cuunlinB rccordi whkh disclusc wilh reasonable oceurllcy at any lime Ihe fina11 pojilion of the charity JJ¥J in ¢nahle thcm In ensuie Ihal ihc finllnciiil Jth*m¢iiL• comply with the Lh8riiles A¢i 2011, Ihc ChArily (A¥¢ounl¥ aiid Report¥l R¢'wilAii0118 2(WX an¢J ilie provisions ol Ihe tnt•l l(io%ernin8 do¢umenl). They ore rc4yoniiblc r()f Ir¢BUrdInS ihc asfteii ofihc cliariiy lind Ix'nLC fnr ukin8 reuonlble for Ihe pr¢veniion #nd Ikie¢'lion of f131ud aftd other irre¥ulJriii¢i. Approved by order of the bojrd uf Inislccy on 10 Jaiiuury 2025 and si8ned on iLi Ixhtsif by: 80(fAc6 Trusèee
Independent auditor's reporl to the trustees of Coventry Panahghar Project Report on the audit of financial statements Opinion We have audited the financial statements of Coventry Panahgh8r Project (the 'charity') for the year ended 31 March 2024 which comprise the statement.of Financial Activities. the Balance Sheet and notes to the financial Statements, including a summary of significant accounting p)li¢ies. The financial reporting framework ihat been applied Tn their preparalion is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accept Accounting Praclice). This report is rnade solely to the charity's trustees. as a l)ody. in accordance with Section 144 of the Charities Act 2011 end regulations made under Section 154 of that A¢t. Our audit work h&8 been undertaken so that we might State to the harity's trustees those matters we are required to state to them in an auditOTS' report and for no other purpose. To thc rullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Intstees as a body, for our audit work, for this rert. or for the opinions we have fornied. In our opinion the financial statements: give a true and fair view of the slatc of the charity's alTairs as at 31 March 2024 and of its inming Tesources and application of resources for the year then ended; have been properly prepared in accordance wilh United Kingdom Gen¢rnlly Accepted ALYounting Practtce: and have been prepared in aceordan¢e with the requirements of the Chariti¢5 Act 2011. Basis for opinion We conducted our audit in cOrdanCe with International Standards on Auditing (UK) OSAS (UK)) and applicable law. Our responsibililies undcr those siandards are further de5Gribed in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of thc charity in accordance with the ethical requirements that are relevant to our audit of the financial stalements in the UK, including the FRC'S Ethical Standard, and we h&ve lfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropria* to provide a basis for our opinion. Conclusions relating lo going conL'ern W¢ have nothing to reporl in respect of the following matters in relation to whi¢h the ISAS (UK) require us to report to you where: the tTUStees' use of the going Concern basis of a¢¢ounting in th¢ preparation of the financtal statements is not appropriate; or the trustees have not disclosed in ihe financial statements any identified material uncertainties that may cast signifiwit doubl about the charity's ability to continue to adopt the going concern basi5 of accounllng for a period of at least twelve months from the date when the financial staternents are authorised for issue. However, because not all the future events or conditions can be predict, this statement is not a guarnntee to the Charity's ability to continue a5 going concern. Reporting on other information The trnstees are responsible for the other information. The other inforniation comprises the infornlation included in the annual r¢port, other than the financial statern¢nts and our Report of the Independent Auditor5 thereon. Our opinion on the financial statements does not cover the other infonnation and w¢ do not express any fom of assurance conclusion th¢reon. In connection with our audit of the financial statements, our responsibility is to read the olher infornjation and, in doing so, ¢onsidcT whelh¢T the other inforniation is materially inconsistent with the financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. l( based on the work we have p¢rfonned, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard.
Independent auditor's report to the trustees of Coventy Ponahghar Project Responsibilities for the financial statements and the audit Re.%p()ii.iibililie.s iiJ'¢lie irusleeslor iliefinuJiL'iul.iliirfeiiii?nls As explained more fully in the Trustees Responsibilities StalemenL the trnstees are responsible for the preparation of the financlal statements which give a ttwe and fair view, and for such intemal cont1 as the tmslecs detennine is necessary to enable the preparation of financial statements that a free from material misstatemen¢ whether due to fraud or ctror. In preparing the financial statements. the trustees Tespon5ible for assessin8 the ¢harity's ability to continue as a going concern. disclosing, as applirable, matters related to going concern and using the going concern basis of accounlin8 unless the trust¢¢s either inlend to liquidale the charity or to Cease operations. or have no realistio alternative butto do so. Auilif¢Jr.s' respi>ii.$ibililiesfui' Ilie (iiiilit ()f ihefinanciiil stlltenienls We have be¢n appoinied 88 auditor under section 151 of Ihe Charities Acl 2011 and report in accordance wilh the regulations made under section 154 of that Act. Our objectives Are to obtain rwonable assurance about whether the fjnancial ststements as a whole are frec from material misstatement, whether due to fr84ud or error, and to issue an Independent Auditors. report that includes our opinion. Re&sonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) WAII always detect a material misstatement when it exists. Missiatemenls can arise from fraud or error And are considered material if, individually or in the aygregate. they could reasonably be expected to influ¢nce the economic decisions of users taken on the basis of these finan¢ial Stslemts. A further deserlpiion of our responsibilities for the audit of the findn¢ial statements 1$ located on the Financial Reporting Council's website at www.frc.orL'.IiklaudiiofsfLS1)on5ibililies. This description fomis part of our auditors, report. li.SL* (?/'ihi.s I'eijui'l This report is made solely to the charity's trustec5. as a body, in accordance with regulations made under 5CCtion l 54 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those mattcrs we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perniilted by law, we do not hccept or assume responsibility to anyone other than the charity and the charity's trnstees as a body, for our audlt work, for this rert, or for the opinions we have fornied. Other matters on which we are required to report Charities Aet 2011 exceptloD reportfng We have nothin8 to rert in respecl of the following matters where thc Charilies Act 2011 requires us to rert to you if, in OUT opinion: the inforn]ation given in the Re}rt of the Trustee$ is inconsistent in any material resped with the financial statements. or sufficient accounting records have not been kept. or the financial statements are not in agreem¢nt wilh the ac we have nol received all the iiation and e require for our Arnistro Chart ountancy Ltd ccountants and Ststutory o act as an auditor in ler ercia Village Torwood Close Westw(M)d Business Park Coventry West Midlands CV4 8FLK udil ection 1212 of the Companies Act 2006 Date: 31 January 2025
COVENTRV PANAHGHAR PROJECT STATE ENT F FINANCIAL ACTIV E YEAR TIES 24 2024 Total fiinds 2023 Totsl funds Unrestricted fund Restrictsd fund Notes INCOME AND ENDOWMENTS FROM Donalions and legacies 2,793 2.793 3,689 Charitsble activities Community support services Sheltered supported accommodation 38.578 1,921,640 691,893 932,123 ,624,016 Investment income Other income 4,553 4,553 703 Total 704,784 932 123 1636.907 964 610 EXPENDITURE ON Fundraising charitsble trading 2.929 2,929 2,776 Eypendliure on charltable acllvilies Community support services Sheliered supported a¢commod&tion 266,394 746 514 224,072 692 437 490,466 1438.951 515.666 1565.389 Total 1015837 916.509 1932 346 2.083.831 NET INCOMEI(EXPENDITURE) (311,053) 15,614 (295,439) (119,221) RECONCILIATION OF FUNDS Total fiinds brought forward 609,208 494,855 ,104,063 1,223.284 Transfers between funds 497.219 (497,219) TOTAL FUIYDS CARRIED FORWARD 795 374 808.624 1 104,063 io
I'FJ'fRY PANAH HAR PR N'oi¢ 2024 Group 2024 Clihrily 2023 Group 2iJ23 Charity FIXED ASSETS Tan8ible assets 13 347,143 347.143 344.057 344,057 347,143 347.143 344.057 J44.1)57 CURRENT ASSETS Debtors: •mounts fallin8 due within one yur CaÉh ai Bank Ind in Iwid 14 298.860 306.161 324.235 347,252 326.546 325.878 535,561 5J1.927 625.406 632,0311 859,796 879.179 CREDITORS". Amounts f411in8 due within one ye 15 (163.925) (121,8981 199.790) 174.942) NET CURRENT ASSETS 461,481 510.141 760.006 804.237 TOTAL ASSETS LESS CURRLYT LIABILITIES 808.624 857.284 1,104.063 1.148 ?94 NET ASSETS 808.624 857.284 1,104,063 1.148.?94 FUNDS Re$lrici¢d funds Unre*ri¢¢¢d funth 18 13.250 795J74 13.250 844,034 494.855 609208 6S3.439 TOTAL FUNDS 808,624 857.284 1.104.063 1.148,?94 The fin•ncial stitementi were Approved by the Board ofTTusiees on 30 Janury 2025 and were signed 00 ils behaifby: Mrs Amerdip Samr8 Tn¢t SAMIA ftoYJi FAC& Ir(
COVENTRY PANAHGHAR PROJECT OTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES General Inforniation and bsis of preparAtion Coventry Panahghar project is a registered charity. The principal place of business is given in the charity inforniation on page 4 of these financlal statements. The nature of th¢ charity's operations and principal a¢tivities are provided on pag¢ l. Th¢ financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Slat¢ment of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Charities Act 2011 and UK Generally Accepted Praclice as it applies from l January 2019. The charity has tsken advantage of the exernptions perniitted and does not include a Cash flow statement on the grounds that it is applying FRS 102 Section IA. The financial statements are prepared on a going concern basis under the historical cost convenlion, modified to includ¢ certain items ai fair value. The financial statements e presented in sterling which 15 th¢ fun¢tional currency of the charity. The financial statements have b¢¢n prepared on a 80in8 conc¢m b851$ as the trustees believ¢ thal no material unc¢rtainties exist. The trustees have ¢onsider¢d the level of funds held and the cxpect¢d level of incom¢ and expenditUTe for 12 months from authoristng the5c financial statements. The bud8et¢d income and expenditure ore sufficient with the level of r¢s¢ryes for the charity lo be able to continue as a going concern. The significant coUntIng policies applied in the preparation of these financial slatements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Basis of consolldation These financial statemenls consolidate the results, asseis and liabililies of the Coventry PanahghaT Project and ils wholly owned subsidiary Panahghar Safe House Limited on a line-by-line basis. No separate Ststement of Financial Activities or Income & Expenditure Account As presented for the Charity. The Charity has grogs income of £1,636,907 [2023: £1.964,609] and net deficit of £291.010 [2023 £112,244]. Intoming resourees All incoming resources are included in the Statement of Financial Adivilies (SOFA) when the Charity is legally entitled to the income after any perfornjance wnditions have been m¢l the amount can be measured r¢liably and it is probable Ihal the income will be rrfeived. For donations to be recognised the charity will have been notified of the arnounts and the settlement date in writing. If there are conditions attached to lh¢ donation and this requires a level of performance before entitlement can be obtained then income is defted until those ¢onditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable ihat they will be fulfilled. Donated facililies and donated professional services are recognjsed in income at their fair value when their economic benefjl is probable, it can be measured reliably and the charity has control over the item. Fair value is deterniined on the basis of the value of the gift to the Gharity. For example, the amount the charity would be willing to pay in the open market for such facilities and servi. A corresponding amount is recognised in expenditure. Income from trading activities includes income earned from fundraising events and trading athivities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to rnise funds and is recognised when entitlement has occurred. Investment income is earned through holding assets for investment purposes such a5 share5 and property. It includes dividends, interest and rent. Where it is not practicable lo identify investment management costs incurred within a scheme with reasonable accurncy the investrncnt income is reported net of these costs. It is included whcn the amount can be measured reliably. Inlerest income is reco8nAsed using the ¢fft¢tive interest method and dividend and rent incom¢ is recognised the ¢harity's right to receive payment is established. 12
COVENTRY PANAHGHAR PROJE OTE TO THE ONSOLIDATED FINANCIAL STAT HEYE IMAR ACCOUNTING POLlCJES- Continued Fund aeeounting Unrestricted funds consist of funds which the charlty may use for general purposes at the Trustees, discretion. this includes designated fidS which are designaied for specific purposes. ReStrIct funds represent Income contributions whi¢h are allo¢at¢d tv a particular purpose in accordance with the donor's wishes. All investment income, gains and losses are allocated to appropriate fiinds. Resourc expanded All the expenditure is accounted for on accrual b&qis. Liabilities are recognised as resources expanded as soon &8 there is a legal constructive obligation ¢ommitting the charity to the expendihlre. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the b&sis 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. Sirat¢gic planning for the futuff, external audit and all the costs of complying wtth Consiitulional and siatuiory requirements, such as the wsts of Board and Commirttt meetings and of preparing slalulory accounts and satisfying public accountability. Tangible fixed 98$ets Dcpreciation is provided ai the following annual rates in order to write off each assel over its estimated useful lift. Freehold property orrjcc equipment Furniture, fixtures & fittings c.omputer equipmenl - not provided - 330A on reducing balance 330/0 on reducing balance 330/0 on reducing balance Investments Fixed asset investments are valued at cost less provision for impaimient, as these assets are not readily saleable and a r¢liable market valu¢ is not readily ascertainable. Debtors and Credltors reeeivAblelp8y8ble wlthln one year Debtors and creditors with no slated interest rate and receivable or payable within on¢ year are recorded at transaction price. Any105ses arising from impairrnent are recognised in expenditure. Le45ing comrnltments Rentals paid under op¢rating leases are charged io the statement of financial activities on a straight-line basis over the period of the lease. Provislons Provisions are recognised when the charity has a present and legal or constructive obllgation 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. T%xgtlon Coventy Panahghar ProjecL as a registered Charity, is exempt from taxation on its income and gains falling within section 505 of the T8x¢s Act 1988 or Section 256 of the T&KalAon of Char8eable Gain A¢t 1992 to the extent that they are appli¢d to its ¢haritsblc obj¢thives. No charge has arisen in the year. Pension scheme The charity operates a defmed contiibution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statcrnent of Financial Activities in the period to which they relate, 13
COVENTRY PANAHGHAR PROJECT OTE THE NSOLIDAT EYEA FINMCIAL STA 023 VOLiJKfARY INCOME 2024 2023 Donations & gift aid INCOME FROM SUBSIDIARY TRADING AcmirriES Coventry Panahghar Project owns Panahghar Safe House Limited (A Company Lirnited by Guarantee). The Tesults for the year, as extracted from the audited financial slatemcnts are summarised below.. 2024 2023 Turnover & othw income Administrative expenses including gift aid 4.172 Relained profitl{loss) (4,429) (4,171) Net currcnl assets and shar¢holders fund 44,231 14
COVENTRY PANAHGHAR PROJEC TES THE CON FOR T LIDATED FI ANCIAL STAT NT INVESTMELYf INCOME 2024 2023 Ikposit account Int¢st 703 Interest receiv¢d of £4,553 (2023.. £703) includes interest received by Panahghar Safe Hous¢ of £ML (2023: £1) INCOMING RESOURCES FROM CHARITABLE ACTIVITIES 2024 2023 Aetivlty Community support services Sheltered supported accommodation Sheltered supported accommodalion Grants Rent receivable Grant Incomc 38.578 688,151 1,233,489 747,899 876,117 1624016 1960218 COSTS OF FUNDRAISING CHARtTABLE ACTIVITIES 2024 2023 Legal & professional ljank charges 2,796 133 2,669 106 CHARITABLE A[VITIEs COSTS Grant funding of activities (see nole Direct Costs (see note 7) Support costs (see note 9) 8) Totals Community support services Sheltered supported accommodation 379,825 47.000 63,641 490,466 1438951 GRANTS PAYABLE 2024 2023 Community support services 47,000 15
COVENTRY PANAHGHAR PROJECT NOTES TO THE FIIYAIY IAL STATEMENTS - tontinued FORT YEAR ENDED 31 MAR H 2024 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Other operating le&8es Rates and water Insurance Lighi and heat Telephone Postage and stationery Events & seminars Sundries Repair & maintenance Cleaning & decorating Travel & subsistence Tv & entertainment Training costs Professional fees Securty 932,445 351.613- 53,185 78,666 85,942 16.243 2.048 10,172 537 154,707 38,552 11,783 2,429 2,845 23,011 981.820 378.673 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 1764,178 1.817.882 SUPPORT COSTS Governance costs Management Finanrx Totals Community support seTViCCS Sheltered sUPPOrted accommodation 31,541 119 31.981 63,641 118239 Support costs, included in the above. ar¢ as follows: 2024 2023 Community support servires Sheltered supported aecornmodation Total activities Total activities Wages Social security Rates and water Insurance Lighi and heat Telephone Sundries Travelling & subsistence Computer costs Bank ¢harges Auditors, remuneration (Group) DeprecTation of tangible fjxed assets Account&nGy & bookkeeping Legal and professionaI fees 19,839 19,839 5.186 36,126 5,186 1,349 8,235 36,139 3,259 12.373 ,717 26,123 194 1,397 12.394 9.480 109201 5,186 1,929 23,019 2.154 1.929 23,019 2,154 11,702 3.086 14.788 119 1,500 13.914 10.746 1.500 13.914 3.235 575 7.511 118,239 263 173 16
COVENTRY PANAHCHAR PROJEcr OTES TO THE ONSOLIDATED FINANCIAL R THE YEAR ENDED 31 MAR TATEMENTS H 2024 io. COMPARATIVES FOR THE ATEMENT OF FINANCIAL ACTIVITIES CHARITY Unrestricted fund Restricted fund Total funds INCOME Donations and legacies Charitable actlvltles Community support s¢rvi¢es Sheltered supported accommodation 3,689 3,689 38,578 688,151 38,578 1,921,640 1,233,489 Invesknent income 702 702 Totsl 731.120 1233,489 1.964.609 EXPENDITURE Charitable activille5 Comrnunity support services Sheltered supported accommodation 248.548 692,830 267,118 868,357 515,666 1,561,187 Totgl 941,378 1,135,475 2,076,853 NET INCOMEI(EXPENDITURE) {210.258) 98,014 (112,244) RECONCILIATIO]Y OF FUNDS I'otsl funds brought fonvird 863,697 396,841 ,260,538 TOTAL FUNDS CARRIED FORWARD 653 439 494 855 1148 294 ii. TRUSTEES, REMUNERATION AND BENETr'ITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, Expenses There were no truste¢s' expenses paid for ihc year ended 31 March 2024 nor for the year ended 31 March 2023. 17
COVENTRY PANAHGHAR PROJECT TE CONSOLIDATED FI R THEYE CIAL TA H 21124 12. srAFF COSTS Total staff costs frjr the year for Coventy Panahghar Project and Panahghar Safe House Ltd were as follows: GROUP 2024 CH.ARITY 2024 2023 2023 Wages and salAries Social security costs Other pension costs 857,918 75,558 23,994 925,997 77.080 20,055 857,918 75,558 23.994 925,997 77.080 20.055 957,470 1,023,132 957,470 1,023,132 The average monthly number of employees during the year w&$ 38 (2023.. 39) and there wer¢ no ¢mployc¢s with emoluments exceeding £60,000 during the current or prior period. 13. TANGIBLE FIXED ASSETS CHARITY Furniture, fixtures & rittin¥s Freehold propety oirice equipment Computer equipment Totals COST At l April 2023 Additions 318,895 48,061 142,440 108,865 618,261 At 31 March 2024 318 895 157491 110815 635 262 DEPRECIATION At l AprAI 2023 Charge for year 32.944 133,462 107,798 274,204 At 31 March 2024 141392 108 794 288 119 NET BOOK VALUE At 31 March 2024 318 895 347 143 At 31 Mah 2023 318 895 344 057 18
COVENTRY PANAHGHAR PROJECT ESTOT CONSOLIDATED FIN OR TH ENDE IAL STATEMENT 024 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR GROUP 2024 CHARITY 2024 2023 2023 Trade debtors Other debtOTS Amounts owed by group undertakings 289,418 9.442 288,588 35.647 289,418 9.442 7,301 288,588 35,647 23.017 298,860 324,235 306,161 347,252 15. CREDITORS: AMOUNV3 FALLING DUE WITHIN ONE YEAR GROUP 2024 CHARITY 2024 2023 2023 Taxation and social security Accruals and deferred incom¢ 32,390 131,535 17,315 82,475 4,321 117.577 2,688 72,254 163,925 99,790 121,898 74.942 16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Totsl funds Unrestricted funds Restricted funds Fixed assets Current asset5 Current liabilities 347,143 612,156 163.925) 347,143 625,406 163.925) 344,057 859,796 199 790) 13250 795.374 808 624 1104 063 19
THE CONSOLIDATED FINANCIAL OR THE YEAR E TATEMENTS 17. MOVEMENf IN C.ROUP FUNDS Net movement in funds At 1.4.23 At 31.3.24 Unrestricted funds Coventy Panahghar Project-General funds Panahghar Safe House Ltd- Trading subsidiary 653,439 144 231) 190,595 14,429) 844,034 148 660) Total Unrestrlcted funds 609,208 186,166 795,374 Restricted funds Coventy Panahghar Project-Desi8nat¢d funds 494,855 (481,605) 13,250 TOTAL FUNDS 104.063 1295 439 808 624 Net movement in fund4 included in the above are as follows: Incoming reUre¢S Resources expended Movement in funds Unrestrlcted funds Coventy Panah8har Proj¢ct-G¢neral funds Panahghar Safe House Lid- Trnding subsidiary 704,784 (1,011,408) (306,624) Total unrestrlcted fitndj 704,784 (1,015,837) (311,053) Restricted fundj Coventry Panahghar Projcct-Desi8nated ndS 932,123 (916,509) 13,614 TOTAL FUNDS 1636 907 295 439) i& COMMI'fMENTS GROUP 2024 CHARITY 2024 2023 2023 At 31 March 2024, non-canccllable lease commitment for properties 31,348 31348 31,348 31,348 Lease agreements are subject to three months. notice. 19. RELATED PARTY TRANSACTIONS Th¢ charity has takcn advantage of exemption, under the tern)5 of Financial Reportlng Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,, not to dis¢lose lated party transactions with wholly owned subsidiaries within the group. 20