**Charity number: 1067931**
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
**Trustee's report and financial statements**
**for year ended 31 December 2020**
Page **1** of 20
**THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Year ended 31 December 2020**
|**CONTENTS**|**Page**|
|---|---|
|Legal and Administrative details|3|
|Report to Trustees|4-9|
|Independent Examiner's Report|10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Notes to the Financial Statements|13-20|
Page **2** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Legal and administrative information**
**Charity number** 1067931 **Business address** 1st Floor 1 Kensington Church Street London W8 4LB Tel: 020 3627 1332 e-mail: info@pkcf.com web: www.pkcf.com **Registered office** 21 Melbury Road London W14 8AB **Chief executive** Mrs. Diana Khalatbari **Accountants** Almar Business Solutions Certified Chartered Accountants 5 Richmond Road London N2 8JT www.AlmarBSL.co.uk Tel: 0203 131 0750 **Bankers** Lloyds Bank 9-13 Brompton Road London SW3 1DD **Solicitors** J Sykes 20 Denton Road East Twickenham London TW1 2HQ
Page **3** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Report of the trustee for the year ended 31 December 2020**
The Trustees present their annual report for the year ended 31 December 2020.
## **Objectives and activities**
## _**Activities**_
The principal activity in the year was carrying out fundraising activities for UK and overseas charities. The principal event through which funds raised in an annual garden party.
## _**Public benefit**_
The trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when making donations and agreeing the distribution policy for the year. These objectives will continue to be pursued in the coming year.
## _**Risk Management**_
The trustees have examined the major risks the charity faces and confirm that systems have been established to enable necessary steps to be taken to lessen these risks.
## **Achievements and performance**
## _**Results for the year**_
Last year, the annual event, which is held on or around the mid- June, the birthday of Popli Khalatbari, did not take place due to Covid pandemic. The event, which usually consists of an auction and speeches, is the main source of income for the charity and in the previous year had generated net income of £61,465.
The charity received funds from donations totaling £185,060 (2019 - £141,789), which helped offset the loss of income from the annual event. A portion of these is from the United States, and as a result, funds are placed in a restricted account and are not spent in countries where US sanctions apply.
The continuation of restrictions on gatherings due to the pandemic may impact the charity’s ability to generate funds through the annual event in 2021 and there is no assurance that the level of donations will be sustained at 2020 levels. However, the charity’s financial position is such that it is able to meet its commitments in 2021.
The cash balance has generated interest received of £6,154 (2019 - £4,433).
Page **4** of 20
## **Grant making policy**
After an extensive vetting process, the charity funds projects worldwide as approved by the board of trustees. This year’s projects consist of:
## **Ongoing Funding:**
## **1- Orphanages**
## • **Bachehaye Ma Orphanage – Kerman, Iran**
PKCF is proud to continue funding all the expenses of this exemplary organisation whose name means ‘Our Children’. Following the devastating earthquake in Bam in 2003, many children were left orphaned. In 2004 the Tavakoli family inaugurated a centre to house and care for 15 orphaned children. In 2005 PKCF funded the construction of two homes on land purchased by the Tavakoli family. The centre has continued to grow, currently consisting of 5 homes, a library and IT room. There is also a fully equipped sewing workshop on the premises, run by the older girls. They make bedding and clothes for the other children, learning skills along the way. This has become a successful enterprise and is allowing the girls to earn a small wage as well as help the Centre. Under the management of the amazing Roshahank Tavakoli, this centre is currently home to 72 children from the age of 4. Seven children have special needs and attend special schools. The children are nurtured and brought up as one large family. They leave as adults after completing their higher education but the ties with the Centre remain long after they have left.
## **2-Centres for children/young people with disabilities:**
## • **7th Tir Home for Disabled Girls – Tehran, Iran**
Our first project in Iran is the 7th Tir Centre for physically disabled girls. In 1999, PKCF constructed a school, an auditorium and a sewing centre as well as developing an arts and crafts programme for the pupils. Additionally, we refurbished the dormitories and supplied electrical wheelchairs & physiotherapy equipment. PKCF continues to assist the centre with the cost of purchase and repair of the electrical wheelchairs and funding some medical expenses as well as assistance to the residents when required.
## • **Hafez Centre for Children with Down Syndrome – Kerman, Iran**
This Day Care Centre for children with Down’s syndrome, particularly those from impoverished backgrounds, is well run and regularly inspected by PKCF members. PKCF will continue funding to assist with the salaries of carers and specialist equipment required by the children.
## • **Hekmat Centre for Mentally and Physically disabled young boys – Rasht, Iran**
PKCF representative visits the centre monthly to study the additional needs of medicine, clothing, food, personal hygiene items which the residents require. These are all purchased and provided by PKCF representative. PKCF intends to continue with supporting this centre.
## **3- Schools & Learning Institutions**
## • **Bachehaye Aftab Centre for Afghan Refugee Children- Kerman, Iran**
PKCF supports this NGO that has proved to be another success story. The children who attend the centre are Afghan refugees living below the poverty line. In addition to providing an education and a daily hot meal, the centre also helps with local integration through cultural programmes. Currently, the centre has 64 students. PKCF funds part of their overheads and provides uniforms as well as covering expenses relating to medical needs, as and when they arise. We inspect the centre several times a year.
Page **5** of 20
## • **Hakim Farabi Vocational School – Bam, Iran**
Constructed by PKCF in the aftermath of the Bam earthquake and inaugurated in 2007, the Hakim Farabi Vocational School is currently attended by 260 girls. Many past pupils have proceeded to university, whilst others have secured employment through skills acquired at the school. PKCF continues to oversee the maintenance of the school, and we inspect the school several times a year. We purchase new equipment when the old equipment becomes obsolete. As the population of Bam continues to rise, we anticipate a rise in student numbers in the coming years.
## • **Jafarabad Village School – Ghazvin, Iran**
Back in 2006 in the impoverished village of Jafarabad in Ghazvin afforded few opportunities to its children. Following the construction of the PKCF School, 147 local children have been educated from kindergarten to 6th grade. The school also provides summer courses teaching music and sports. PCKF continues to finance maintenance and improvements, purchase the uniforms, and provide a nutritious morning meal.
We also fund school excursions to museums and recreational outings. Some of the children have serious medical needs, mostly due to family intermarriage at a very young age. From our medical fund, we supplement any treatments that are required. We are incredibly proud of the perceptible improvements in the children’s educational achievements and behaviour. We pledge to continue to support this very deserving community.
## • **PKCF Electrical & Mechanical Workshop for Boys – Karaj, Iran**
In 2005 PKCF constructed a Mechanical & Electrical training workshop on the existing premises of Dr Naraghi’s Vocational School for boys in Karaj.
Today 220 boys attend, receiving hands-on training. In 2012 we funded a total refurbishment and updated the equipment. PKCF provides the workshops with tools and equipment required and we intend to continue to refurbish and re-equip the premises on a yearly basis.
## **4- Football Programme – Shahre Rey, Iran**
Popli Football Club gives 140 Afghan refugee children and impoverished Iranian children a space to play and partake in this team sport. Aged 7 and 17 the children are taught discipline, teamwork, and a chance to have fun and an escape from their otherwise difficult childhoods. PKCF employ two coaches, 2 assistant coaches, and a social worker on hand who monitors the children’s needs and engages their parents when problems arise.
Annually, PKCF supplies all the teams’ requirements. Nutritious snacks are provided after each practice. Most of the Afghan children are not covered by national insurance and sadly many needs health care which they cannot afford. PKCF medical fund covers part of these needs. As most families are below the poverty line, PKCF monthly distributes food packages to the neediest.
## **5- Medical Fund**
• Since 2014 PKCF has constructed and refurbished operating rooms, a haematology ward, PICU, NICU and ICU at hospitals including the following: Ali Asghar Children’s Hospital, Markaz Tebi Koodakan, Bahrami Children’s Hospital and Shariati Hospital. We have also covered the costs for air purification units, auxiliary power generators, and elevators.
## **New Projects:**
## • **Construction of a middle school - Baluchistan, Iran**
In 2020, PKCF funded the first phase of construction of a 6-room middle school for 200 students in the village of Hichan in Baluchistan. In 2021 the second phase will be funded.
Page **6** of 20
## • **Tazeabad Village Elementary School – Kermanshah, Iran**
Along with donors in Kermanshah, PKCF partially funded the construction of an elementary school which has been completed and is ready to open its doors Sept 2021.
## **UK and Worldwide Charities**
## **• Child Action Lanka – Sri Lanka**
The Centre educates children of land laborers through academic and talent-based approaches, to bring out the best in them and help them to believe in a better future. The Centre is planning computer classes for school leavers as well as vocational training courses. With the hard work of the staff and children, we believe this centre is giving these children a bright future in which they will be able to serve their communities and prosper.
## **• Hope for the Young – UK**
They aim to remove obstacles to young refugees and asylum-seekers’ education and well-being through financial and mentoring support.
## **Donations in response to COVID Pandemic- UK**
The Trustees whole heartedly approved to donate to the following charities during the COVID Pandemic:
- **Hammersmith and Fulham Foodbank**
- **Feed NHS – Damian Lewis Campaign**
- **Masks for NHS heroes**
Page **7** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Report of the Trustees for the year ended 31 December 2020**
## **Constitution**
The charity is governed by a trust deed dated 7 October 1997. New trustees are nominated by existing trustees with their nomination approved at trustee meetings. During 2003 an executive funding committee was set up, the role of which is to study all funding applications and make recommendations to the board. The committee consists of three trustees.
Trustees are selected for their extensive experience in either the corporate or charity sectors or both. On appointment, they are issued with a copy of the foundation’s charter, which sets out the Popli Khalatbari Charitable Foundation’s mandate, rules, procedures, and all other relevant information.
The trustees who served during the year were as follows:
Mr Ivan Donn
Mrs Diana Khalatbari – The Founder and CEO Mrs Mahnaz Larizadeh – Chair Mr Kayvan Larizadeh Mr Jonathan Sykes
## **Plans for the future**
The charity will continue to provide assistance in the provision of education or welfare for children or young persons, either for the benefit of the general public or for the benefit of those who, by reason of their youth, infirmity or disablement, poverty or social and economic circumstances have the need for such facilities.
## **Reserves policy**
Restricted funds are monies donated by US residents/citizens who are subject to US trade sanctions and cannot be put towards projects in countries where US sanctions apply. Such funds are held in a separate bank account to ensure that they are used in accordance with US laws.
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to a minimum of twelve months’ unrestricted expenditure. This provides sufficient funds to cover management, administration, support costs and grants recommended for payment by the trustees.
Page **8** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Report of the trustee for the year ended 31 December 2020**
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By order of the Trustees
## Diana Khalatbari
Diana Khalatbari (Jun 21, 2021 12:38 GMT+1)
.....................................
## **Diana Khalatbari Trustee & CEO**
Jun 21, 2021
..................................... **Date:**
Page **9** of 20
## **Independent examiner's report to the trustees on the financial statements of THE POPLI KHALATBARI CHARITABLE FOUNDATION.**
I report on the accounts of The Popli Khalatbari Charitable Foundation for the year ended 31 December 2020 set out on pages 11 to 20.
For financial years ended 31 December 2020, trustees have opted for an independent examination instead of an audit as the charity’s gross asset are not more than £3.26 million, in accordance with the Charities Act 1993.
## **Respective responsibilities of trustees and independent examiner**
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3) (a) of the Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7) (b) of the Act, and to state whether matters have come to my attention.
## **Basis of independent examiner's statement**
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 seeking 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 I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (i) which gives me reasonable cause to believe that in any material respect the requirements: - to keep proper accounting records in accordance with section 41 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Ali Dezyanian (FCCA) of Almar BSL**
Almar Business Solutions Limited is a registered company in England and Wales (registered number 04541322), holder of ACCA Practicing Certificate with Association of Chartered Certified Accountants and has Professional Indemnity Cover for its business activities.
Page **10** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Statement of financial activities for the year ended 31 December 2020**
|**Note**
**INCOMING RESOURCES FROM**
**GENERATED FUNDS**
Voluntary income
Gift aid
Activities for generating funds
**2**
Investment income
**3**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Costs of generating funds
**2**
Charitable activities
**4**
Governance costs
**5**
Other resources expended
**6**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING)**
**RESOURCES FROM OPERATIONS**
**BEFORE TRANSFERS**
Transfer between funds
**NET INCOMING (OUTGOING)**
**RESOURCES FOR THE YEAR**
**Balance at 1 January**
**Balance at 31 December**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
164,596
20,464
185,060
141,789
23,999
-
23,999
7,818
543
-
543
115,902
6,154
-
6,154
4,433|
|---|---|
||**195,327**
**20,464**
**215,791**
**269,942**|
||1,280
-
1,280
51,241
198,588
32,000
230,588
216,059
19,557
-
19,557
31,040
1,560
159
1,719
4,550|
||**220,985**
**32,159**
**253,144**
**302,890**|
||**(25,659)**
**(11,695)**
**(37,354)**
**(32,948)**
-
-
-
-|
||**(25,659)**
**(11,695)**
**(37,354)**
**(32,948)**
586,583
13,957
600,682
633,630|
||**561,066**
**2,262 **
**563,328**
**600,682 **|
Page **11** of 20
All activities derive from continuing operations. **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **Balance sheet as at 31 December 2019**
|**Note**
**FIXED ASSETS**
Tangible assets for use by the charity
**8**
**CURRENT ASSETS**
Debtors
**9**
Prepayments
Cash on deposit
Cash at bank and in hand
**CREDITORS: amounts falling due within one year**
**10**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**FUNDS**
**12**
Unrestricted funds
General funds
Restricted funds|**2020**
**2019**
**£**
**£**
0
0|
|---|---|
||4,502
9,185
3,000
2,160
514,333
552,100
43,193
42,471|
||563,028
603,756
(1,700 )
(3,074)|
||563,328
600,682|
||**563,328**
**600,682**|
||556,939
586,725
6,389
13,957|
||**563,328**
**600,682**|
Jun 21, 2021 These financial statements were approved by trustees on and signed on their behalf.
## Diana Khalatbari
Diana Khalatbari (Jun 21, 2021 12:38 GMT+1)
## **Diana Khalatbari**
Page **12** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2019**
## **2. ACTIVITIES FOR GENERATING FUNDS**
|**2. ACTIVITIES FOR GENERATING FUNDS**||
|---|---|
|Income from annual event:
Auction
Entry tickets
Sponsorship
Young PKCF event
Expenditure in connection with annual event
Event direct expenses
Young PKCF event expenses|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
-
-
-
60,550
-
-
-
49,220
-
-
-
1,050
543
-
543
5,082|
||**543**
**-**
**543**
**115,902**|
||**1,280**
**-**
**1,280**
**49,355**
**-**
**-**
**-**
**1,885**|
## **3. INVESTMENT INCOME**
|Bank interest receivable|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
**6,154**
**-**
**6,154**
**4,433**|
|---|---|
Page **13** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **Year ended 31 December 2020**
|**4. CHARITABLE ACTIVITIES**|**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2020**|**2020**|**2020**|**2019**|
||**£**|**£**|**£**|**£**|
|**GRANTS PAYABLE**|||||
|7th Tir Orphanage - Tehran, Iran|5,000||5,000|5,000|
|Asayeshgah Hekmat for Disabled Boys – Rasht, Iran|5,000||5,000|3,000|
|Bachehaye Ma Aftab - Afghan / Iranian Day Centre - Kerman,|||||
|Iran|6,000||6,000|4,000|
|Bachehaye Ma Orphanage - Kerman, Iran|83,000||83,000|83,000|
|Boys Workshop - Karaj, Iran|3,500||3,500|3,000|
|Bridge of Hope Foundation - UK|||-|5,000|
|Child Action Lanka - Sri Lanka||2,000|2,000|2,105|
|Damian Lewis - Help Feed NHS Workers One Healthy Meal||7,500|7,500|-|
|Football Programme - Share Rey, Iran|16,500||16,500|15,000|
|Footprints - Portsmouth Downs - UK|||-|5,000|
|Hafez Centre for Down Syndrome Children - Kerman, Iran|3,500||3,500|-|
|Hakim Farabi Vocational School - Bam, Iran|5,000||5,000|5,000|
|Refurbishment of Hakim Farabi Vocational School for girls -|||||
|Bam, Iran|||-|20,000|
|Hammersmith & Fulham Foodbank||7,500|7,500|-|
|Hichan Village School & Workshop construction|30,000||30,000|-|
|Hope for the Young, UK||15,000|15,000|15,000|
|Jaffarabad School - Ghazvin, Iran|15,000||15,000|12,000|
|Tazeabad Village Elementary School – Kermanshah, Iran|3,000||3,000|-|
|Masks for NHS Heroes|3,500||3,500|-|
|Medical Fund - Children from all over Iran|10,000||10,000|8,000|
|**Charitable activities' costs carried forward**|**189,000**|**32,000**|**221,000**|**185,105**|
Page **14** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2020**
|**4. CHARITABLE ACTIVITIES (continued)**
**Charitable activities' costs brought forward**
Support costs:
Rent
Building Service Charge
(Gain) loss on exchange
Accountancy and Bookkeeping
Ccommission charges
Computer expenses
Printing, postage, and stationery
Projects Inspection & Transaction Charges
Telephone
Travel and subsistence
Miscellaneous
**5. GOVERNANCE COSTS**
Audit and accounting fee
Wages and staff training|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
**189,000**
**32,000**
**221,000**
**185,105**
1,182
-
1,182
18,800
141
141
552
-
-
-
-
2,632
-
2,632
3,363
35
-
35
162
3,355
-
3,355
2,710
-
-
-
508
2,075
-
2,075
4,700
168
-
168
55
-
-
-
33
-
-
-
70|
|---|---|
||**198,588**
**32,000**
**230,588 216,059**|
||**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
1,360
-
1,360
2,040
18,197
-
18,197
29,000|
||**19,557**
**- 19,55731,040**|
Page **15** of 20
## **6. OTHER RESOURCES EXPENDED**
|**6. OTHER RESOURCES EXPENDED**
Bank charges
Depreciation|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
2,003
159
2,162
2,040
(443)
-
(443)
2,510|
|---|---|
||**1,560 159 1,719 4,550**|
## **7. INFORMATION REGARDING EMPLOYEES AND TRUSTEES**
The Foundation had one employee during the year 2020.
No trustee, or person related or connected by business to them, has received any remuneration or expenses from the trust during the year or preceding year.
Page **16** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2020**
## **8. TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY**
|**8. TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY**|||
|---|---|---|
|**Cost**
At 1 January 2020 and 31 December 2020
**Accumulated depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019
**9. DEBTORS**
Other debtors – Gift Aid
Other debtors – Rent deposit due
Prepayments – Venue and catering deposit for 2021/22 event
All amounts are due within one year.
**10. CREDITORS: amounts falling due within one year**
Accruals
Other creditors|**2020**
**£**
1,924
2,578
3,000|**Fixtures,**
**fittings and**
**equipment**
**£**
8,990|
|||4,696
4,293|
|||8,990|
|||-|
|||-|
|||**2019**
**£**
7,025
-
2,160|
||**7,502 **|**9,185**|
||**2020**
**£**
1,700
-|**2019**
**£**
2,040
1,034|
||**1,700**|**3,074**|
Page **17** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2020**
## **11. TAXATION**
The trust is a registered charity and is not liable to tax on its surplus.
## **12. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Fund balances at 31 December 2020 are represented by:
|Debtors
Prepayments
Cash on deposit
Cash at bank and in hand
Current liabilities
Total net assets|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
4,502
-
4,502
3,000
-
3,000
514,333
-
514,333
36,804
6,389
43,193
(1,700)
-
(1,700)|
|---|---|
||**556,9396,389563,328**|
At 31 December 2020 no funds were deemed to be designated.
Page **18** of 20
## **THE POPLI KHALATBARI CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2020**
## **ACCOUNTING POLICIES**
The financial statements are prepared in accordance with Statement if Recommended Practice 2005 “Accounting by Charities” and applicable United Kingdom accounting standards. The particular accounting policies adopted by the trustees are described below.
## _**Basis of accounting**_
The financial statements are prepared under the historical cost convention.
## _**Cash flow statement**_
The charity has taken advantage of the exemption in FRS 1 not to prepare a cash flow statement on account of its size.
## _**Funds**_
The charity’s funds are both restricted and unrestricted. Restricted funds are monies donated by US residents’ citizens which are subject to US trade sanctions and cannot be put towards projects in Iran. Such funds are held in a separate bank account to ensure that they are used in accordance with US laws. Unrestricted funds are expendable at the discretion of the trustees in the furtherance of the objects of the charity. Designated funds are funds set aside by the trustees for specific use in the future.
## _**Tangible fixed assets**_
Tangible fixed assets are stated are stated at cost less depreciation which is provided on a reducing balance basis over the estimated useful lives of the assets.
The rates of depreciation applied are Fixtures, fittings and equipment – 25%
## _**Current asset investments**_
Investments held as current assets comprise monies placed on short-term deposits.
## _**Incoming resources**_
All income is recognized in the statement of financial activities when the conditions for receipt have been met and there us reasonable assurance of receipt.
## _**Donations**_
Donations and all other receipts from fundraising are reported gross and any related fundraising costs are reported in other expenditure. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable.
## _**Expenditure on charitable activities**_
Expenditure on charitable activities includes all expenditure directly related to the objects of the charity.
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## _**Governance costs**_
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the statutory accountancy and legal fees.
## _**Foreign exchange gains and losses**_
All monetary assets and liabilities denominated in foreign currencies at the year-end are retranslated at the closing rate with any gains or losses being credited or charged in the statement of financial activities in that period.
Transactions entered in a foreign currency during the year are translated using a monthly average exchange rate with any gains or losses on translations being credited or charged to the statement of financial activity in that period.
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## PKCF Annual Accounts FINAL V2021-06-19
Final Audit Report 2021-06-21
Created: 2021-06-19 By: Ali Dezyanian (adezyanian@almarbsl.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAJh6yfRiAYHDBTvrDnzVKV3nsAKO0pdT5
## "PKCF Annual Accounts FINAL V2021-06-19" History
## Document created by Ali Dezyanian (adezyanian@almarbsl.co.uk)
2021-06-19 - 7:07:44 PM GMT- IP address: 109.73.121.1
Document emailed to Ali Dezyanian (ali@almarbsl.co.uk) for signature
2021-06-19 - 7:11:37 PM GMT
## Email viewed by Ali Dezyanian (ali@almarbsl.co.uk)
2021-06-19 - 7:12:00 PM GMT- IP address: 109.73.121.1
## Document e-signed by Ali Dezyanian (ali@almarbsl.co.uk)
Signature Date: 2021-06-19 - 7:12:36 PM GMT - Time Source: server- IP address: 109.73.121.1
## Document emailed to Diana Khalatbari (diana@pkcf.com) for signature
2021-06-19 - 7:12:38 PM GMT
## Email viewed by Diana Khalatbari (diana@pkcf.com)
2021-06-19 - 7:12:44 PM GMT- IP address: 72.14.199.20
## Document e-signed by Diana Khalatbari (diana@pkcf.com)
Signature Date: 2021-06-21 - 11:38:20 AM GMT - Time Source: server- IP address: 92.236.1.233
## Agreement completed.
2021-06-21 - 11:38:20 AM GMT