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2021-05-31-accounts

PERSIA EDUCATIONAL FOUNDATION

REGISTERED CHARITY NUMBER : 1066546

Report of the Trustees and Financial Statements For The Year Ending 31 MAY 2021

Suite 9 West Africa House

Ashbourne Road

London W9 3QP

PERSIA EDUCATIONAL FOUNDATION

CONTENTS

FOR THE YEAR ENDING 31 MAY 2021

PAGE
Legal and Administrative Information 1
Report of the Trustees 2-3
Report of the Independent Examiner 4
Statement of Financial Activities 5
Balance sheet 6
Notes to the Financial Statements 7-9
Detailed Statement of Financial Activities 10

1

PERSIA EDUCATIONAL FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDING 31 MAY 2021

Charity registration number 1066546

Date of registration

02 December 1997

Registered and operating office

Suite 9 West Africa House Ashbourne Road London W9 3QP

Website

www.persia.education

Trustees

Ms Dori Dana - Haeri, UK (Vice - Chair) Ms Nazenin Ansari Moshiri, UK (Secretary) Dr Parviz Mina, France (Chair) Mr Kamran Hashemi, UK (Treasurer) Dr Ali Mohammad Seifpour Fatemi (France) Dr Nina Ansary (USA) Mr Mohamad Reza Ansari (France)

Independent Examiner

Reza Samii Chartered Accountant 5 Calico Row Plantation Wharf London SW11 3YH

Bankers

HSBC Bank 90 Baker Street London W1U 6AX

2

PERSIA EDUCATIONAL FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDING 31 MAY 2021

1. STRUCTURE & GOVERNANCE

Governing document:

Declaration of Trust dated 28th July 1997 as amended by supplemental deed dated 25th November 1997.

Constitution of the charity:

The Charity is constituted as a Trust.

Trustee selection methods:

In 2016 Persia Educational Foundation (Persia) formed a working Board of Trustees. The founder and two trustees involved with Persia since its inception in 1997 developed a short list of nominees and began inviting them one by one to join the board. Upon review, consultation and acceptance of the nominees, the board expanded. As a result there are now 7 trustees from three different countries as shown on page 1.

In addition, Persia established a ‘Core Team’ composed of the Board Secretary, Treasurer and Vice-Chair, as well as its Executive Director (ED) who reside in London. The Core Team is directly involved with the management of the charity and its on-going projects and affairs.

2. OBJECTIVES AND ACTIVITIES

Objects of the charity:

To undertake projects promoting knowledge and training in education, especially among women and children, offer scholarships and collaborate with like-minded organisations focussed on education.

To advance and promote the cause of education in particular amongst students of Iranian descent in their final or penultimate year of their studies who may be in need of financial assistance to complete their courses and to make grants to individuals and institutions to finance educational research relating to Iran.

Main activities undertaken for the public benefit:

Since the start of its operation under new management in June 2016, Persia established specific programmes and accomplished a number of deliverables. Following a meeting between Persia’s Founder and its Executive Director in June 2018, Persia’s mandate was re-focussed on providing its scholarship programme and bringing to a successful conclusion its other educational community- building activities, namely, our pioneering Character and Civic Education trainings, as well as subsidiary community-building events, such as a series of webinars funded by Awards for All to help Persian-speaking immigrants integrate in community life in the UK. With the onset of the pandemic, Persia transferred its activities online and continued to offer its educational events as monthly webinars. In 2021, following the passing of one of its founders, Persia established a second scholarship fund to aid Iranian descent students in the UK.

Trustees' report continued on page 3….

3

PERSIA EDUCATIONAL FOUNDATION

TRUSTEES' REPORT (Continued…)

FOR THE YEAR ENDING 31 MAY 2021

Main activities undertaken for the public benefit (continued from previous page):

With the onset of the pandemic and waves of lockdowns in the UK, Persia began to offer a series of webinars to help continue to promote education among its target audience. To help improve this much-needed line of activity, Persia established its YouTube channel. The Foundation granted its 4th Mirzakhani scholarship in May 2021 and established a new fund, the Ansari Scholarship for those studying human rights and public service.

In addition to the above-mentioned activities, following reflections by our ED and trustees, we embarked on a range of education webinars originally offered at community schools to reach parents and other community members regarding life in the UK and the best means to actively live in and contribute to the betterment of our community and the society at large. We continued to expand our community educational webinars. Given the financial impact of the pandemic, we made every effort to provide information about relevant scholarship opportunities to our community in order to assist young graduates pursue higher education through our social media.

Charity's Financial Statements and Trustees Annual Report for year ending 31st May 2020 were submitted to the Charity Commission on 17 February 2021.

3. ACHIEVEMENTS AND PERFORMANCE

Summary:

In a short span of time the charity was able to:

Policy on reserves:

Unrestricted reserves are maintained at approximately £5,000 to enable the Charity to operate effectively and efficiently.

Actual reserves at 31st May 2021 amounted to £34,963 (2020: £19,066).

This report was approved by the Trustees and signed on its behalf, by:

Ms Nazenin Ansari Moshiri ……………………………………………… Trustee

Date: 16th March 2022

4

PERSIA EDUCATIONAL FOUNDATION

REPORT OF THE INDEPENDENT EXAMINER

FOR THE YEAR ENDING 31 MAY 2021

I report on the accounts of the charity for the year ended 31 May 2021 which are set out on pages 5 to 10.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

have not been met; or

Signed:

Dated: 16th March 2022

REZA SAMII, CHARTERED ACCOUNTANT Chartered Accountant and Registered Auditor

5 Calico Row Plantation Wharf London SW11 3YH

5

PERSIA EDUCATIONAL FOUNDATION

CHARITY REGISTRATION NUMBER: 1066546

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDING 31 MAY 2021

Notes
INCOME
2
EXPENDITURE
Charitable activities
3
Total expenditure
NET MOVEMENTS IN FUNDS - (Deficit) /
Surplus
Total funds brought forward
8
TOTAL INCOME
RECONCILIATION OF FUNDS
TOTAL FUNDS CARRIED FORWARD		 Unrestricted Restricted
Total
Funds
Funds
Funds
2021
2021
2021
£
£
£
18,495
16,697
35,192
18,495
16,697
35,192
15,108
4,187
19,295
15,108
4,187
19,295
3,387
12,510
15,897
19,066
0
19,066
22,453
12,510
34,963		 Total
Funds
2020
£
31,917
31,917
18,854
18,854
13,063
6,003
19,066

The Notes form part of these accounts

6

PERSIA EDUCATIONAL FOUNDATION

BALANCE SHEET

FOR THE YEAR ENDING 31 MAY 2021

Notes
CURRENT ASSETS
Debtors
6
Cash at bank and in hand
CREDITORS
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
8
Restricted funds
8
TOTAL FUNDS
8
Amounts falling due within one year		 £
£
3,191
35,118
38,309
(3,346)
34,963
34,963
34,963
22,453
12,510
34,963
31-May-21		 £
£
487
21,925
22,412
(3,346)
19,066
19,066
19,066
19,066
0
19,066
31-May-20		 £
£
487
21,925
22,412
(3,346)
19,066
19,066
19,066
19,066
0
19,066
31-May-20
22,412
(3,346)
19,066
19,066
19,066
0
19,066

The financial statements were approved by the Trustees on 16th March 2022 and signed on their behalf, by:

Ms Nazenin Ansari Moshiri .................................................................................... Trustee Mr Kamran Hashemi ….................................................................................. Trustee CHARITY REGISTRATION NUMBER: 1066546

The Notes form part of these accounts

7

PERSIA EDUCATIONAL FOUNDATION

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 MAY 2021

1. ACCOUNTING POLICIES:

1.1) BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention and in accordance with Accounting Standards in the United Kingdom, the Financial Reporting Standard FRS 102, the Charities SORP FRS 102 and the Charities Act 2011.

Persia Educational Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost of transaction value unless otherwise stated in the relevant accounting policy.

1.2) FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3) INCOME

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the receipt of the income tax refund from HMRC.

1.4) EXPENDITURE

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation of activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Direct support costs are those costs incurred directly in support of expenditure on the objects of the charity. Management and administration costs are those incurred in connection with administration of the charity. Governance costs are incurred for compliance with constitutional and statutory requirements.

8

PERSIA EDUCATIONAL FOUNDATION

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 MAY 2021

1. ACCOUNTING POLICIES (Continued…) :

1.5) PENSIONS

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

Unrestricted
Restricted
Total
funds
funds
funds
2021
2021
2021
2.
£
£
£
Grants received
0
0
0
Donations inclusive of Gift Aid
18,495
16,697
35,192
18,495
16,697
35,192
Unrestricted
Restricted
Total
funds
funds
funds
2021
2021
2021
3.
£
£
£
COSTS
Donations / Scholarships paid
440
1,500
1,940
Support costs - Management
10,762
2,687
13,449
Governance costs
3,906
0
3,906
15,108
4,187
19,295
2021
4.
£
12,000
Pension costs - NEST
173
12,173
The average number of paid staff employed by the charity during the year was as follows:
tax refunds
INCOME RECEIVED
Wages and salaries
STAFF COSTS - included in support costs
CHARITABLE ACTIVITIES		 Total
funds
2020
£
9,060
22,857
31,917
Total
funds
2020
£
2,940
12,326
3,588
18,854
2020
£
12,000
175
12,175
2021 2020
No. No.
1 1

9

PERSIA EDUCATIONAL FOUNDATION

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 MAY 2021

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2021.

6.
DEBTORS:
Amounts falling due within one year
Gift Aid tax claim
Prepayments and accrued income - other taxation &
social security
7.
CREDITORS:
Amounts falling due within one year
Other Creditors
Accruals and deferred income
8.
MOVEMENT IN FUNDS:
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2021
£
3,005
185
3,191
2021
£
34
3,312
3,346
Net
movement
At 01.06.20
in funds
£
£
19,066
3,387
0
12,510		 2020
£
0
487
487
2020
£
34
3,312
3,346
At 31.05.21
£
22,453
12,510
19,066
15,897		 34,963

Restricted funds represent scholarship funds to aid and support students of Iranian descent in their final studies and education in the UK.

10

PERSIA EDUCATIONAL FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDING 31 MAY 2021

INCOME RECEIVED
Donations incl. of Gift Aid tax refunds
EXPENDITURE ON CHARITABLE
ACTIVITIES
Charitable activities:
Support costs - Management
Wages and salaries
Pension Costs - NEST
Admin office expenses
Insurance
Translator fees
Website design and logo development costs
Bank charges
Stripe fees
costs
Total expenditure
Net (expenditure) / income for the year
Income of charitable activities;-
Accountancy, Gift Aid claims and payroll
Governance costs
Donations / Scholarships paid
Income
Grants received		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2021
2021
2021
£
£
£
0
0
0
18,495
16,697
35,192
18,495
16,697
35,192
440
1,500
1,940
9,600
2,400
12,000
138
35
173
254
0
254
151
0
151
451
0
451
144
0
144
24
0
24
0
252
252
10,762
2,687
13,449
3,906
0
3,906
15,108
4,187
19,295
3,387
12,510
15,897		 Total
Funds
2020
£
9,060
22,857
31,917
2,940
12,000
175
0
151
0
0
0
0
12,326
3,588
18,854
13,063