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2023-05-31-accounts

PERSIA EDUCATIONAL FOUNDATION

REGISTERED CHARITY NUMBER : 1066546

Report of the Trustees and Financial Statements For The Year Ending 31 MAY 2023

Suite 9 West Africa House

Ashbourne Road

London W9 3QP

PERSIA EDUCATIONAL FOUNDATION

CONTENTS

FOR THE YEAR ENDING 31 MAY 2023

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 2023

Charity registration number

1066546

Date of registration

02 December 1997

Contact office

56j Randolph Avenue London W9 1BE

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 2023

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. Our co-founder-trustee, Mr Abdolreza Ansari passed away in 2020 reducing that number to 6. The board is now in the process of seeking nominations for a 7th trustee.

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 systematic operation our last report issued in 2021, Persia has steadily maintained its growth and expansion. In addition to supporting schools, educational community events, and webinars, both live and through Persia’s YouTube channel, during the 2022-2023 academic year, Persia continued its educational webinars highlighting some of the most innovative and pioneering Iranian-descent individuals around the globe. With the end of lock downs and gradual resume of in-person events, resulting in a decrease in popularity of webinars, Persia returned to its regular calendar of activities. However, for more details on each of the above-mentioned webinars please see: https://www.persia.education/category/webinar/.

Trustees' report continued on page 3….

3

PERSIA EDUCATIONAL FOUNDATION

TRUSTEES' REPORT (Continued…)

FOR THE YEAR ENDING 31 MAY 2023

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

In early 2023 Persia organised across a short films on the theme of women’s rights, to help raise funds for Persia’s scholarship schemes. UK’s first Woman Life Freedom short film festival was curated and delivered to a receptive audience. The festival attracted funding from the Westminster Council and through ticket sales. All proceeds were used to develop Persia’s scholarship fund.

The festival opened with a screening of 10 short films on Friday, 23 June, at the Curzon Cinema in London’s Victoria, followed by a VIP reception for guests and dozens of VIPs and prominent group of artists, fans, diplomats, academics, civil society actors, business leaders and changemakers.

In November Persia Educational Foundation and Film Buzz Festival joined forces with The Courtauld Institute of Art in London, The Bridge and Tunnel, as well as The New School’s New University in Exile Consortium in NYC, and Diaspora Arts Connection in San Francisco to offer an international short film festival focussed on the Woman, Life, Freedom movement. The festival highlighted the 16 Days of Activism, meaning 25 November to 10 December, designed to raise awareness on violence against women on a global scale. The 16 Days span across the international days marking Elimination of Violence Against Women and Human Rights Day. Through the lens of films created, the festival offers a stage for their stories of resilience, challenge, and optimism.

The festival began with a hybrid launch hosted by the Courtauld Institute, and featuring a panel of experts, on 29 November in London, followed by online viewing of a selection of 100 short films between 29 November and 30 December. Our US launches took place on December 7 in New York and December 10 in San Francisco. The festival attracted a good deal of social media followers as well as media coverage by Manoto TV, Iran International TV, Voice of America and The Independent.

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.

Total reserves at 31st May 2023 amounted to £47,542 (2022: £42,422).

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

Date: 20th February 2024

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

4

PERSIA EDUCATIONAL FOUNDATION

REPORT OF THE INDEPENDENT EXAMINER

FOR THE YEAR ENDING 31 MAY 2023

I report on the accounts of the charity for the year ended 31 May 2023 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: 20th February 2024

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 2023

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
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
£
£
£
£
18,236
25,510
43,745
25,923
18,236
25,510
43,745
25,923
15,053
23,572
38,625
18,464
15,053
23,572
38,625
18,464
3,182
1,938
5,120
7,459
29,572
12,850
42,422
34,963
32,754
14,788
47,542
42,422

The Notes form part of these accounts

6

PERSIA EDUCATIONAL FOUNDATION

BALANCE SHEET

FOR THE YEAR ENDING 31 MAY 2023

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		 £
£
8,525
42,411
50,936
(3,394)
47,542
47,542
47,542
32,754
14,788
47,542
31-May-23		 £
£
3,000
42,875
45,875
(3,453)
42,422
42,422
42,422
29,572
12,850
42,422
31-May-22		 £
£
3,000
42,875
45,875
(3,453)
42,422
42,422
42,422
29,572
12,850
42,422
31-May-22
45,875
(3,453)
42,422
42,422
29,572
12,850
42,422

The financial statements were approved by the Trustees on 20th February 2024 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 2023

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 2023

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
funds
funds
2023
2023
2.
£
£
Donations inclusive of Gift Aid
18,176
25,510
59
0
18,236
25,510
Unrestricted
Restricted
funds
funds
2023
2023
3.
£
£
COSTS
Donations / Scholarships paid
480
21,123
Support costs - Management
10,649
2,449
Governance costs
3,924
0
15,053
23,572
4.
Pension costs - NEST
tax refunds
INCOME RECEIVED
Wages and salaries
STAFF COSTS - included in support costs
CHARITABLE ACTIVITIES
Sundry income		 Unrestricted
Restricted
funds
funds
2023
2023
£
£
18,176
25,510
59
0		 Total
funds
2023
£
43,686
59
43,745
Total
funds
2023
£
21,603
13,098
3,924
38,625
2023
£
12,000
173
12,173		 Total
funds
2022
£
25,923
0
18,236
25,510		 25,923
Unrestricted
Restricted
funds
funds
2023
2023
£
£
480
21,123
10,649
2,449
3,924
0		 Total
funds
2022
£
1,980
13,232
3,252
15,053
23,572		 18,464
2022
£
12,000
173
12,173
The average number of paid staff employed by the charity during the year was as follows:
2023 2022
No. No.
1 1

9

PERSIA EDUCATIONAL FOUNDATION

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 MAY 2023

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2023.

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		 2023
£
8,525
0
8,525
2023
£
34
3,360
3,394
Net
movement
At 01.06.22
in funds
£
£
29,572
3,182
12,850
1,938		 2022
£
3,000
0
3,000
2022
£
141
3,312
3,453
At 31.05.23
£
32,754
14,788
42,422
5,120		 47,542

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 2023

INCOME RECEIVED
Donations incl. of Gift Aid tax refunds
Sundry income
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		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
£
£
£
18,176
25,510
43,686
59
0
59
18,236
25,510
43,745
480
21,123
21,603
9,600
2,400
12,000
138
35
173
0
0
0
151
0
151
0
0
0
611
0
611
149
0
149
0
15
15
10,649
2,449
13,098
3,924
0
3,924
15,053
23,572
38,625
3,182
1,938
5,120		 Total
Funds
2022
£
25,923
0
25,923
1,980
12,000
173
(3)
151
600
144
124
44
13,232
3,252
18,464
7,459