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← Peace Direct

2023-12-31-accounts

PEACE DIRECT

FINANCIAL STATEMENTS FOR YEAR ENDED 31 December 2023

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PEACE DIRECT ANNUAL REPORT 2023

Trustees’ report for year ended 31 December 2023

The Trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 December 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Officers and financial advisers

Trustees

Anthony Smith (Chair) Nicholas Whitaker (Treasurer) (resigned 16/11/2023) Howard Mason (Treasurer) (appointed 28/03/2024) Belinda Bell (resigned 23/02/2023) David Cutler (resigned 28/03/2024) David Loyn Niamh Neville (resigned 23/02/2023) Stacey Haefele (resigned 23/02/2023) Jennifer Larbie Martine Kessy Ekomo Soignet (resigned 27/06/2024) Peace Ashenafi (appointed 23/02/2023) Maryam Mohsin (appointed 23/02/2023) Bridget Moix (appointed 27/06/2024)

Patrons

Dame Emma Kirkby Sir Mark Rylance Scilla Elworthy

Senior Leadership Team

Dylan Mathews (Chief Executive) Harriet Knox Brown (Head of Programmes and Research / Deputy CEO) Gemma Britton (Joint Head of Fundraising and Communications) Ryan Boyce (Joint Head of Fundraising and Communications) to April 2023 Grace Rowley (Joint Head of Fundraising and Communications) from April 2023 Valerie Bloomfield (Head of Finance and Operations)

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Company Secretary Valerie Bloomfield

Charity Number

1123241

Company Number

06458464

Registered Office

Peace Direct, 1st Floor, Dynamis House, Sycamore Street, Barbican, London EC1Y 0SW, United Kingdom

Bankers

Co-operative Bank. PO Box 101, 1 Balloon St, Manchester M60 4EP.

Ebury Bank, 42-44 Grosvenor Gardens, London SW1W 0EB

CCLA Charity Deposit fund 1 Angel Lane, London EC4R 3AB

Statutory auditors

Moore Kingston Smith LLP, 9 Appold Street London EC2A 2AP

Solicitor

BDB Pitmans LLP, 1 Bartholomew Close, London EC1A 7BL

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Executive Summary

Highlights of 2023 included:

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Peace Direct’s Vision and Mission

Our vision

A just world, free from violent conflict

Our mission

To work in partnership with local peacebuilders and other allies to shift power and resources for sustainable peace.

Our values

We believe in:

We are

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Objectives and activities for the public benefit: Progress against our strategic plan

We made some encouraging progress towards our goals. Our activities, performance and achievements are reported on below under our strategic objectives. The trustees confirm that they have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing our aims, objectives, and future plans.

Strategic Goal 1: People in fragile and conflict-affected countries will have the tools, power and resources to prevent and respond to violence and lead efforts to build sustainable peace.

Highlights of our work include:

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Plans for 2024:

Strategic Goal 2: Targeted institutions and organisations will recognise and support locally-led peacebuilding as an effective and essential approach to building sustainable peace and will begin to address neo/colonial attitudes and practices in their work

Highlights of our work in 2023 include:

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society organisations in the Global South to push for changes to how international conferences held by Global North actors are held. The letter garnered over 1,400 signatures and resulted in commitments by USAID and other donors to change their practices.

Alongside this, we continued to support advocacy and policy requests from partners across the countries where Peace Direct works.

Plans for 2024:

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Strategic Goal 3: Peace Direct will generate mass support for locally led peacebuilding.

Highlights of our work include:

Plans for 2024:

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Strategic Goal 4: Peace Direct will be a strong, dynamic, inclusive organisation better equipped to deliver our mission.

Highlights of our work include:

Plans for 2024

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Recognition and thanks

As always, we owe a debt of gratitude first to our partners, who are working on the frontlines of conflict, at great personal risk, to stop violence and build peace. We continue to be inspired by their bravery and are honoured to be working with them. As in previous years, we could not have achieved our goals without the support of a range of donors and supporters.

We are grateful for the financial support from a number of governmental institutions, including Global Affairs Canada, European Partnership for Responsible Minerals and Guernsey Overseas Aid.

We are very grateful to Trusts and Foundations that provided flexible and generous multi-year funding for our work, including Humanity United, Robert Bosch Stiftung, Open Society Foundation and the People’s Postcode Lottery. These funders in particular demonstrated the type of support and flexibility that we hope will become commonplace across the philanthropic sector.

We are also grateful to the Trusts, Foundations and other bodies that provided project funding of more than £10,000 per year, including the Alan & Nesta Ferguson Charitable Trust, Blandford Lake Trust, Carnegie Corporation of New York, Joseph Rowntree Charitable Trust, Jusaca Trust, Network for Social Change, Polden Puckham Charitable Foundation, Sir James Reckitt Charitable Trust, and Sulney Fields Trust. Many other trusts and foundations provided us with grants of up to £10,000 and we are grateful for their support.

We are also very thankful to the hundreds of people who continue to support Peace Direct with gifts of all sizes. We are very grateful for their belief in what we do. Their generosity is so important to us in order to help us respond quickly and flexibly to the needs of our local partners, and to keep Peace Direct running in an efficient and sustainable way.

As in previous years, we would like to thank Google for providing us with free advertising, which helps drive traffic to our website

Last but not least, we would like to thank the staff and Board of Peace Direct, who have dedicated significant time and effort to making sure that the organisation has long-lasting and positive impact for those living in conflict-affected areas.

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Structure, governance and management

The Charity started as a Trust in 2004. Today its operations are governed by its Memorandum and Articles of Association dated 20 December 2007 (as amended December 2008). Peace Direct is registered under the Companies Act 2006 as a company limited by guarantee and not having share capital. The company was registered as a charity on 18 March 2009 under registration number 1123241. The charity complies fully with both the letter and spirit of the Data Protection Act 1998 and the General Data Protection Regulation 2018, which was effective from 25 May 2018.

Recruitment and appointment of Trustees

The Trustees in office in 2023 are set out on page 1. We actively seek out Trustees with specific skill sets through advertising, recommendations and other sources. New Trustees are approved by the whole Board. Trustees must be at least 18 years of age. The Trustees may from time to time appoint a person to fill a vacancy or act as an additional Trustee. This appointment is subject to approval of the Trustees at the next quorate Trustee meeting.

Organisation

The Board meets quarterly. Its role is one of governance and strategic oversight. It approves the budget, operational and strategic plans, and appoints the Chair and Chief Executive.

The Board has a Finance Sub-committee and a Safeguarding lead that operate under agreed terms of reference, oversee key aspects of Peace Direct activity and report back to the full Board. Trustees can also attend “in-weeks” which provide all staff and Trustees the opportunity to focus on strategy, planning and training sessions.

The Board primarily contributes to the governance and good management of Peace Direct through regular board and committee meetings. The day to day running of the charity is managed by the Chief Executive, with decisions taken and limits to authority governed by Peace Direct's delegated authority framework.

Trustee induction and training

Induction is tailored to the individual requirements of Trustees, but in all cases involves a review of the annual and strategic plan, and review of the minutes of previous Board meetings.

Related parties

Peace Direct has no formal links with other organisations, other than our affiliate in the United States, but works closely with many in the fields of peacebuilding, human rights and accountability, both in the UK and overseas.

! Our affiliate in the United States, Peace Direct Inc, is an independent non profit organisation that operates under licence from Peace Direct. There is close collaboration between the two organisations to further Peace Direct’s charitable objects, including fundraising for programmes, advocacy to the US government and to the UN, research and public education. In 2023 £336,443 was transferred to Peace Direct Inc to support activities in line with our organisational strategy.

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– No Trustee received any remuneration from the Charity (2022 £nil) and none of the Trustees were reimbursed expenses incurred in the performance of their duties.

Risk management

The Trustees confirm that they are satisfied that adequate control actions and monitoring processes are in place to mitigate the charity’s exposure to major risks. These major risks which the Charity faces have been identified as:

Appropriate actions to mitigate against the potential impact of each of these risk categories are considered on an on-going basis as part of the Risk Management process.

They are summarised as follows:

Operational: The risk of injury or death to employees and consultants whilst overseas is minimised through the completion of a risk assessment for each trip, monitoring travel advice from FCDO and by seeking information from other agencies. The failure to exercise due care and diligence with respect to the Charity’s IT systems, and the consequential loss and compromise of data, is countered through ownership of the IT system, staff training and the regular review of data security.

Reputational: The Board of Trustees determines the major issues that affect the Charity’s public image – for example whether to endorse campaigns promoted by other organisations, whether to engage in forms of fundraising that might be deemed sensitive, and any issues with significant legal implications. The potential risk from partners misreporting on projects is addressed by undertaking a comprehensive assessment of potential partners followed by regular monitoring.

Financial: A possible fall in unrestricted reserves resulting from shortfalls in income, failure to secure co-financing or unanticipated expenditure would be foreseen through the receipt of regular financial reports and accurate and prompt reforecasting allowing for timely reductions in the budget, additional fundraising and the encouragement of earlier receipt of pledges from major donors. Foreign exchange losses are monitored and may be minimised through offset against foreign exchange gains, forward purchasing, capping of costs in sterling as well as modifications to project budgets if agreed by the donor. Alternative funders may also be approached to make up for any budget shortfall caused by exchange rate losses.

Funding is diversified as much as possible so as to minimise the effect of specific funding applications being unsuccessful. Brexit related risks are also being mitigated by exploring ways to broaden the charity’s funding base as well as looking at establishing an EU presence in the Netherlands. In addition, there is continuing investment in potential new fundraising streams and products. If speculative income fails to materialise, this is offset by cancelling corresponding expenditure. Should donors change their modus operandi to funding partners directly, then the Charity

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would seek contributions for value added services provided directly to the partner. Peace Direct is also considering a consultancy model to generate income from commercial contracts and has recently launched an online discussion platform which is being marketed on a commercial basis to NGOs wishing to hold large virtual consultations.

Human Resources: The disruption to the Charity’s work, risk to programme implementation and to key external relationships due to the unavailability of key staff member(s) owing to illness, resignation, etc, is addressed through the sharing of knowledge amongst the Senior Management Team and the comprehensive documentation of information and systems. Field visits also contribute to key partnership relations.

Governance: The Board of Trustees is responsible for the Governance of the Charity. It meets quarterly and approves the budget, operational and strategic plans, appoints the Chair and Chief Executive, and approves overall policy in relation to staff employment. It also ensures good governance through the operation of the Finance sub-committee. The charity has clear policies on conflicts of interest, and in addition all Trustees sign a code of conduct. All policies have recently been subjected to extensive review and updating. The recruitment, appointment, induction and training of Trustees is detailed under the Structure, Governance and Management section of this report. In addition, procedures are in place to ensure compliance with the Health and Safety of staff, volunteers, partners and third parties working on the charity’s programmes. Internal control risks are minimised by the implementation of financial and other procedures. The charity adheres to the highest ethical levels in its fundraising policies and activities and complies with best practice and generally accepted standards.

Internal controls

The Trustees confirm that internal control procedures are in place in order to provide reasonable assurance against material misstatement or loss. They include:

Financial review

Peace Direct’s income in 2023 was £4,535,268 which represents a 5.3% increase compared to 2022 (£4,308,726).

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This is due in part to legacy income increasing to £170,566 from (2022: £104,362).

Institutional income was £473,294 compared to (2022: £754,672), a result of several institutionally-funded projects closing.

Income from Trusts and Foundations increased to £3,646,752 (2022: £3,120,696), an increase of 13.4%. This is largely due to increasing commitments from existing funders such as the People’s Postcode Lottery and the Robert Bosch Stiftung.

The organisation benefits from a gift in-kind contribution of £31,500 in relation to its head office.

Expenditure on fundraising activities rose during the year as the organisation invested in rebranding and the implementation of a new website as well as digital strategy and ethical content gathering/

Expenditure on charitable activities remained consistent with that of the previous year, £3,748,239 (2022: £3,827,756). This reflects the consistency of funding and the continuation of programme activities.

The unrestricted reserve as at 31[st] December 2023 was £709,621 (2022: £742,707).

Peace Direct has set aside designated reserves, designated specifically for programmatic purposes, future commitments, general operating costs and partners core support. Designated reserves as at 31[st] December 2023 was £763,816 (2022: £797,552).

Restricted reserves increased to £1,434,147 (2022: £1,004,477) reflecting the timing difference between receiving income and this being spent implementing projects.

Staffing costs increased for the year to £1,358,811 (2022: £1,057,894). This reflects an increase in staff numbers - the average actual staff numbers increased to 26 (2022: 22) and the awarding of increases in remuneration in line with the benchmarking policy within which the market pay comparison reflected the costs of living crisis.

Principal funding sources

The sources of funding remained consistent with the previous year :

As part of our risk management strategy, Peace Direct strives to have a balance of funding sources and not become overly reliant on one funder or on funding linked to one specific partner.

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Investment powers and policy

The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity. Due to fluctuating cash flow demands and substantial movements in exchange rates during the year, only a minimal balance was maintained in a low interest earning investment account so as to assist in cash flow management and to minimise the impact of exchange rate losses. However, the Finance Committee agreed to moving £500,000 into a deposit account, earning 5% interest, and this was actioned towards the end of 2023.

Reserves policy

The Charity requires free reserves in order to:

The Trustees consider three month’s unrestricted reserves as the minimum level that should be maintained. However, in the medium to long term it is desirable to achieve a level of unrestricted reserves equivalent to six months’ core expenditure.

At 31 December 2023 the value of unrestricted reserves (£709,619) were equivalent to 4.7 months operating expenditure (2022: 5.9 months). A reduction in our unrestricted reserves was supported by the Finance Committee given the high levels of designated funds that could be released if needed.

The effective management of reserves will be achieved, inter alia, by efficient financial and operational management, effective cost control, the pursuit of additional and diverse sources of funding and the insistence on the financial viability of all activities undertaken by the Charity.

Policy on grant-making

Peace Direct seeks to identify local organisations that are committed to stopping violence and building sustainable peace in their communities. In most cases, Peace Direct seeks out groups to support through long term partnerships and therefore does not respond to unsolicited requests for funding. Grants made overseas are monitored to ensure that funds are spent on charitable purposes and that strict principles of governance are met.

Fundraising policy

Our fundraising activities focus on raising money to support the work of our peacebuilding partners around the world, and related projects, as well as to ensure the sustainable running of the organisation.

We raise funds from trusts, foundations and other donor institutions, individual supporters, community fundraising, events and companies. We have also been grateful to receive the support of those who have remembered Peace Direct with gifts in their wills.

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We adhere to the guidance as provided by the Institute of Fundraising, and we are paid members of the Fundraising Regulator. In 2023 we received no complaints about our fundraising activity, either directly or via a third party, nor any reports on the Fundraising Preference Service.

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Statement of Directors’ and Trustees’ responsibilities

The Trustees (who are also Directors of Peace Direct for the purposes of Company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its income and expenditure for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ea PEACE DIRECT Statement of disclosure to auditors So far as the Directors are aware, there is no relevant audit information of which the cotnpany's auditors are unaware. Additionally> the Directors have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities. For and on behalf of the Trustees Anthony Smith Chair of Trustees Date: 29th October 2024 18

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PEACE DIRECT

Opinion

We have audited the financial statements of Peace Direct (‘the company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of financial statements section of our report. We are independent of the Corporation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 17, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

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There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil Finlayson (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

9 Appold Street London EC2A 2AP

Date: 30/10/2024

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Peace Direct

STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 December 2023

Notes
INCOME FROM
Donations
2
Charitable Activities
3
International Programmes
Policy & Research
Other Income
TOTAL INCOME
EXPENDITURE ON
Raising Funds
4
Charitable Activities
4
International Programmes
Policy & Research
TOTAL EXPENDITURE
Net Surplus/(Deficit) From Operations
Net Unrealised Exchange gains/ (losses)
Net Surplus/(Deficit) Before Transfers
Transfers Between Funds
11
Net Surplus/(Deficit)
Funds Brought Forward
Funds Carried Forward
11		 Unrestricted
Funds
£
435,591
-
44,262
10,187
490,040
338,892
139,164
15,568
493,624
(3,584)
(85,291)
(88,875)
55,787
(33,088)
742,707
709,619		 Restricted
Funds
£
3,678
2,508,440
814,877
-
3,326,995
-
2,464,744
417,867
2,882,611
444,384
-
444,384
(14,714)
429,670
1,004,477
1,434,147		 Designated
Funds
£
-
718,234
-
-
718,234
-
592,894
118,002
710,896
7,338
-
7,338
(41,073)
(33,735)
797,552
763,817		 Total
2023
£
439,269
3,226,674
859,139
10,187
4,535,269
338,892
3,196,802
551,437
4,087,131
448,138
(85,291)
362,847
362,847
2,544,736
2,907,583		 Unrestricted
Funds
£
392,247
10,000
10,126
1,215
413,588
48,436
185,751
12,783
246,970
166,618
44,450
211,068
(76,292)
134,776
607,931
742,707		 Restricted
Funds
£
38,707
2,495,758
439,621
-
2,974,086
36,101
2,793,727
253,555
3,083,383
(109,297)
-
(109,297)
(120,774)
(230,071)
1,234,548
1,004,477		 Designated
Funds
£
72,063
426,040
422,949
-
921,052
80,250
308,776
273,163
662,189
258,863
-
258,863
197,066
455,929
341,624
797,552		 Total
2022
£
503,017
2,931,798
872,695
1,215
4,308,725
164,787
3,288,254
539,501
3,992,542
316,183
44,450
360,633
-
360,634
2,184,103
2,544,737

There were no recognised gains or losses for the above two financial periods other than those included in the Statement of Financial Activities. All gains and losses arising in the year have been included in the Statement of Financial Activivies and relate to continuing activities

The notes on pages 27 to 28 form part of these accounts.

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Peace Dirert BALANCE SHEET AS AT31 DECEMBER 20Z3 Notes 2023 2022 FIXED ASSET5 11,185 9,863 CURRENT ASSETS Debtors 134,540 102,844 Cash at Bank & in Hand 3,514,537 3,642,165 3,649,077 3,745,1)09 CREDITORS Amountsfalling due within one year io 752,779 1,210,135 752,779 1,210,135 NET CURRENT ￿SET5 2,896,298 2,534,874 Total Assets Less Current Liabilities 2,907,583 2,544,737 NET ASSET5 2,907,583 2,544,737 ThE FUNDS OFTHE CHARITY Unre5tritted Income Funds li 709,619 742,708 Designated Income Funds li 763,817 797,551 Restricted Income Funds li 1,434,147 I,(M)4.477 2,907,583 2,544,737 These finanaal Statements have been prepared in accordance with the prowsion5 applicable to cotnpanies 5ubjectto the small companies, regime. These financi31 statements were appraved bythe Board of Trustees and authori5edfor issue on 29th October 2024 and were Signed on its behalf by.. ANTHONY SMITH Chair of Trustees Company Number D6458464 25

Peace Direct

STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2023

Notes
CASH FLOWS FROM OPERATING ACTIVITES
Net cash (used in)/ provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets
Net cash provided by investing activities
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
Change in cash and cash equivalents due to exchange rate movements
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
LIATION OF NET INCOME / (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVI
Net income for the year
Depreciation
(Increase) / decrease in debtors
Increase / (decrease) in creditors
OF CASH AND CASH EQUIVALENTS AND NET DEBT
Cash at bank and in hand
Cash at bank and in hand		 2023
£
(32,684)
(9,652)
(9,652)
(42,336)
3,642,165
(85,291)
3,514,537
TIES
2023
£
448,138
8,230
(31,696)
(457,356)
(32,684)
Balance
Cash flows
1/1/2023
£
£
3,642,165
(42,336)		 2022
£
1,728,218
(14,553)
(14,553)
1,713,665
1,884,050
44,450
3,642,165
2022
£
316,183
6,694
537,678
867,663
1,728,218
Foreign exchange
Balance
movements
12/31/2023
£
£
(85,291)
3,514,537
Balance
Cash flows
1/1/2022
£
£
1,884,050
1,713,665		 Foreign exchange
Balance
movements
12/31/2022
£
£
44,450
3,642,165

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

ANALYSIS OF CASH AND CASH EQUIVALENTS AND NET DEBT

26

Notes to the financial statements

Peace Direct is a public benefit entity, a charity registered in England and Wales (registered charity number 1123241) and a company limited by guarantee (company number 06458464), registered in England.

The registered office and its principal place of business is 1st Floor, Dynamis House, Sycamore Street, Barbican, London EC1Y 0SW.

1.

Accounting policies

Basis of preparation of accounts

These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Peace Direct meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policies.

The trustees consider there are no material uncertainties about the charitable company's ability to continue as a going concern.The trustees do not consider there are any sources of estimation uncertainty at the year end that have a significant risk of causing a material adjustment to the carrying value of either assets or liabilities within the next accounting period.

1.2

Income recognition

Voluntary income including donations, legacies and grants that provide unrestricted funding are recognised when entitlement and the amount can be measured with reasonable accuracy. Such income is only deferred when:

Income Tax recoverable (Gift Aid) on donations received is included on an accruals basis.

1.3

Volunteers and donated services and facilities

The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution would normally be purchased from suppliers, this contribution is included in the financial statements at an estimated sum based on the value of the contribution to the charity. The income equivalent is recognised within incoming resources as a donation, and equivalent costs included within resources expended under the relevant cost categories.

1.4

Expenditure

Expenditure is recognised when a liability is incurred.

1.5

Cost of Generating Funds

Costs of generating funds are those costs incurred in raising income for the charity.

1.6

Charitable activities

Charitable activities include expenditure associated with achieving the objectives of the charity and include both the direct costs and support costs relating to these activities.

1.7

Governance costs

Governance costs include costs associated with meeting regulatory and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Under the new Charity SORP they are included in Charitable Activities on the face of the Statement of Financial Activities.

1.8

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by number of staff, and staff costs by time spent in different areas of work by staff members.

1.9 Pension costs

The pension costs charged in the accounts represent the contributions payable by the charity during the period. Pension costs represent contributions paid to a defined contribution scheme on behalf of the charity's employees. The assets of the scheme are held separately from those of the company in an independently administered scheme.

27

1.10 Funds structure
Unrestricted funds are available for use at the discretion of the Trustees and in furtherance of the general objectives of the charity.
Restricted funds are funds received where their use is subject to donor imposed conditions.
1.11 Grants payable
Grants are expensed in the period in which they are paid.
1.12 Operating leases
Rentals payable under operating leases are charged against income in a straight line basis over the lease term.
1.13 Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to each activity. Irrecoverable VAT
is charged to the category of resources expended to which the item it relates to has been charged.
1.14 Taxation
The charity is a registered charity and claims exemption from income tax and corporation tax on income and activities arising
from its charitable activities.
1.15 Foreign currency exchange gains and losses
Monetary assets and liabilities in foreign currencies are translated in to sterling at the ruling rate of exchange at the year end.
Transactions in foreign exchange are translated into sterling using the middle rate on the date of the transaction. Exchange
differences are taken into account in arriving at the net movement in funds for the year. Unrealised gains on conversion of
monetary assets and liabilities denominated in foreign currencies at the year end are credited to a designated reserve to be
utilised in offsetting any future foreign currency exchange losses.
1.16 Tangible fixed assets for use by the charity and depreciation.
Tangible fixed assets for use by the charity are stated at cost less depreciation. Depreciation is provided at rates calculated to write
off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives: computer equipment 3
years; fixtures and fittings 4 years. Equipment is capitalised where the purchase price exceeds £1,000.
1.17 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the
amount prepaid net of any trade discounts due.
1.18 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short term maturity of three months or less from
the date of acquisition or opening of a deposit or similar account.
1.19 Creditors and Provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result
in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors
are recognised at their settlement amount after allowing for any trade discounts due.
Deferred income represents income that has timing restrictions placed upon the use of that income so that it is recognised in a future
period.

28

INCOME FROM DONATIONS Sub-total Grants Sub-total Corporate Sub-total INCOME FROM CHARITABLE ACTIVITIES INTERNATIONAL PROGRAMMES Grants Received Institutions Sub-total

==> picture [344 x 409] intentionally omitted <==

29

Trusts and Foundations Sub-total Sub-total Policy & Research Grants Contracts Sub-total

==> picture [344 x 242] intentionally omitted <==

30

==> picture [111 x 34] intentionally omitted <==

==> picture [40 x 34] intentionally omitted <==

==> picture [37 x 33] intentionally omitted <==

==> picture [41 x 34] intentionally omitted <==

==> picture [75 x 50] intentionally omitted <==

==> picture [53 x 48] intentionally omitted <==

==> picture [468 x 369] intentionally omitted <==

----- Start of picture text -----
Total expenditure 2023 338,892 3,196,802 551,437 4,087,131
Total expenditure 2022 164,787 3,288,254 539,501 3,992,542
Support costs consist of 2023 2022
616,223 397,112
----- End of picture text -----

31

Peace Direct Notes to the accounts

For YEAR ENDED 31 December 2023

5 GRANTS PAYABLE

Restricted Fund Grants - International Programmes
Restricted Fund Grants - International Programmes
EPD, Afghanistan
Beni Peace Forum, DRC
Centre Resolution Conflits (CRC), DRC
Fondation Chirezi (FOCHI), DRC
RIDA, DRC
Burma Monitor, Myanmar
Initiatives for International Dialogue, Myanmar
Khet Khet Tin, Myanmar
Paung Ku, Myanmar
Swe Ta Har, Myanmar
HIVE, Pakistan
CDA, Pakistan
Hurras, Syria
Envision Zimbabwe Women’s Trust, Zimbabwe
Other
Multi-partner International Programmes
SIDA Youth Action for Peace in DRC, Mali and CAR, Pakistan
Local Action Fund - Myanmar, Nigeria and DRC
FCDO Jo Cox Fund - Supporting peacebuilding in Burundi and DRC
People's Postcode Lottery - Supporting various local peacebuilding projects
Shift the Power
Robert Bosch Humanitarian Grant - Global Campaign
Partner Core Support Fund
Sub-total
Restricted Fund Grants - Policy & Research
Strength From Adversity
Sub-total
Unrestricted Fund Grants - various
TOTAL GRANTS PAYABLE		 2023
£
40,158
51,331
22,247
35,803
27,961
13,424
26,195
26,848
130,748
138,374
-
16,667
-
454,769
-
442,047
53,493
29,841
51,115
1,561,021
4,537
4,537
-
1,565,558		 2022
£
493,596
158,088
75,174
18,946
11,462
52,501
9,439
62,147
400,341
90,706
404,869
1,777,269
2,641
2,641
2,282
1,782,192

32

Notes to the accounts

For YEAR ENDED 31 December 2023

6 NET INCOME/(EXPENDITURE) FOR YEAR This is stated after charging / (crediting):

This is stated after charging / (crediting):
2023 2022
Total Total
£ £
Operating lease rentals:
Property 30,000 74,604
Depreciation 8,230 6,693
Auditor's remuneration:
Audit fees 21,113 13,250
in respect of previous years - -
Foreign exchange (gains) / losses 85,291 (44,450)

33

Peace Direct Notes to the accounts

For YEAR ENDED 31 December 2023

7 STAFF COSTS

Salary Costs
National Insurance Costs
Employer Pension Costs		 2023
Total
£
1,180,923
115,094
62,793
1,358,810		 2022
Total
£
913,010
96,540
48,344
1,057,894

The number of employees whos emoluments exceeded £60,000 were:

2023 2022
Total Total
£60,000 - £69,999 2 1
£70,000 - £79,999 1 -
£80,000 - £89,999 - 1
£90,000 - £99,999 - -

The charity's key management personnel are considered to be the senior leadership team (SLT) comprising at 31 December 2023 the CEO, and the Heads of International Programmes & Research / Deputy CEO, Finance & Operations and two Fundraising & Communications on a job share. Their total remuneration including NI and pension contributions amounted to £318,446 (2022 £324,726).

The average monthly full time equivalent number of staff employed by the charity during the period was as follows:

Raising Funds
Charitable Activities		 2023
Total
3
23
26		 2022
Total
2
20
22

See note 13 on related party transaction for

Trustees remuneration and expenses.

34

Peace Direct Notes to the accounts

For YEAR ENDED 31 December 2023

8 FIXED ASSETS

COST
As at 1st January 2023
Additions during period
Disposals during period
As at 31 December 2023
DEPRECIATION
As at 1st January 2023
Charge for period
Disposals during period
As at 31 December 2023
NET BOOK VALUES
As at 31 December 2023
As at 31 December 2022		 Computer
equipment
£
40,052
9,652
-
49,704
30,350
8,069
38,419
11,285
9,702		 Fixtures
& Fittings
£
5,343
-
5,343
5,182
161
5,343
-
161		 Total
£
45,395
9,652
-
55,047
35,532
8,230
-
43,762
11,285
9,863

35

Peace Direct Notes to the accounts

For YEAR ENDED 31 December 2023

9 DEBTORS

Grant Receivable
Prepayments & Other Debtors
10a CREDITORS: Amounts falling due within one year
Other Creditors
Taxation & Social Security
Deferred Income (Note 10b)		 2023
£
28,324
106,216
134,540
2023
£
86,418
-
666,361
752,779		 2022
£
37,357
65,487
102,844
2022
£
183,601
-
1,026,534
1,210,135

Income is deferred when it is received during the period but relates, in whole or in part, to one or more subsequent periods when the matching expenditure will be incurred.

10b DEFERRED INCOME

Deferred income brought forward
Released to income in year
Income deferred in year
Deferred income carried forward (Note 10a)		 2023
£
1,026,534
(1,026,534)
666,362
666,362		 2022
£
212,500
(212,500)
1,026,534
1,026,534

36

Peace Direct

Notes to the accounts For YEAR ENDED 31 December 2023

11 MOVEMENT IN FUNDS
£ £ £ £ £ £
Transfers between Foreign Exchange
Project Purpose Opening Balance Income Expenses funds Gain/(Loss) Balance 31/12/2023
RESTRICTED FUNDS
SINGLE-COUNTRY PROGRAMMES
Afghanistan EPD Local Action Fund 2022/23 Local Action Fund civil society resilience 119,647 100 (79,249) (40,498) - -
Afghanistan EPD Local Action Fund 2023/25 Local Action Fund civil society resilience 89,789 - 171,668 - 261,457
EPRM Peace Gold Other locally-led peacebuilding action (40,451) 67,839 (30,974) 3,586 - -
EWER Systems Ituri & North Kivu (Zivik) Other locally-led peacebuilding action 91 - (91) - - -
Radio Amani Peace education and awareness-raising 833 - (833) - - -
GOAC FOCHI 2022-23 Other locally-led peacebuilding action 1,181 16,742 (20,980) 3,057 - -
Myanmar Local Action Fund Local Action Fund civil society resilience 158,595 393,713 (450,117) - - 102,191
Aware Girls Commonwealth Foundation 2017-2020 Other locally-led peacebuilding action 15,119 - - - - 15,119
Radio Amani Phase 2 Peace education and awareness-raising - 24,000 (23,246) - - 754
MULTI-COUNTRY PROGRAMMES
FCDO Jo Cox 2019/20/21/22 Other locally-led peacebuilding action (104) 5,000 (4,926) 30 - -
YAPP SIDA 2019/20/21/22 Local Action Fund youth peace and security 1,805 - (1,805) () - -
Organisational development Peace Direct and partners;
PPL Extra 2021/22 other peacebuilding initiatives; peacebuilding research 21,899 - (19,280) (2,619) - -
Organisational development Peace Direct and partners;
PPL 2022/23 other peacebuilding initiatives; peacebuilding research 13,559 225,000 (179,843) (58,716) - -
Organisational development Peace Direct and partners;
PPL 2023/24 other peacebuilding initiatives; peacebuilding research - 775,000 (630,094) (47,939) - 96,967
Local Action Fund violence prevention and
LAF Robert Bosch 2020/21/22 peacebuilding 45,688 - - (45,688) - -
Local Action Fund violence prevention and
LAF Anonymous 2019/20/21/22 peacebuilding 59,417 - (5,727) (53,690) - -
Local Action Fund violence prevention and
LAF Blandford Lake 2021/22 peacebuilding - 706,972 (611,946) 109,672 - 204,698
Peace Nexus MEL 2020/21/22 Peacebuilding research 4,696 23,315 (9,099) - - 18,912
Global Campaign 2022/23 Peace education and awareness-raising 234,368 37,415 (143,430) 64,233 - 192,586
Shift the Power - 82,760 (112,328) 31,968 - 2,400
Robert Bosch Humanitarian - 160,213 (33,021) (127,192) - -
P&R PROGRAMMES
Beni Action Research Carnegie 2022-24 Peacebuilding research 86,922 118,683 (121,044) 8,655 - 93,216
SAS2.0 Peacebuilding research 1 124,134 (123,963) - - 172
JRCT UK Advocacy 2021/23 Support for Peace Direct's UK Advocacy Programme 8,815 25,418 (34,233) - - -
JRCT UK Advocacy 2023/25 Support for Peace Direct's UK Advocacy Programme 12,516 (12,260) - - 256
Robert Bosch Advocacy 2021/22/23/24 Support for Peace Direct's EU Advocacy Programme 215,907 265,971 (104,790) - - 377,088
Strength from Adversity Peace education and awareness-raising 7,757 19,037 (19,747) 5,000 - 12,047
RTC Book and online course Peace education and awareness-raising 212 - - - - 212
Decolonising Aid Peacebuilding research 150,000 (163,779) 68,171 - 54,392
-
RESTRICTED INDIVIDUAL DONATIONS -
Small funds of restricted individual donations 1,015 3,378 (2,713) - - 1,680
-
OTHER -
5% Salary & Overhead Reserve 47,505 - (47,505) - -
Reallocation of funds between categories - - 56,907 (56,907) - -
TOTAL RESTRICTED FUNDS 1,004,477 3,326,995 (2,882,611) (14,714) - 1,434,147
1,004,477 3,326,995 (2,882,611) (14,714) 1,434,147
DESIGNATED FUNDS
Advocacy Designated Supporting Advocacy Projects 23,198 - - - - 23,198
Research Designated Supporting Research Projects 190,177 - (46,353) - - 143,824
Future Commitments Fund Supporting Future or Emergency Projects 50,000 - - - - 50,000
Partner Core Support Fund Supporting Partners Core Activities 59,591 - (51,115) 28,317 - 36,793
5% Salary & Overhead Reserve - - - 44,448 - 44,448
Arising from net unrealised exchange gains, to be
utilised in offsetting any future foreign currency
Foreign Exchange Gain Reserve exchange losses 93,462 - - (65,146) - 28,316
Wellspring Designated 2019/20/21/22 Supporting General Organisation Support 14,983 355,317 (317,224) (36,397) - 16,679
Humanity United Designated 2019/20/21/22 Supporting General Organisation Support 64,889 165,112 (161,320) (8,481) - 60,200
OSF Designated Supporting General Support and LAF Colombia 301,252 197,805 (78,863) (59,835) - 360,359
Reallocation of funds between categories - - (56,021) 56,021 - -
TOTAL DESIGNATED FUNDS 797,552 718,234 (710,896) (41,073) - 763,817
Other Unrestricted 742,707 490,040 (493,624) 55,787 (85,291) 709,619
UNRESTRICTED FUNDS 742,707 490,040 (493,624) 55,787 (85,291) 709,619
ALL FUNDS 2,544,736 4,535,269 (4,087,131) - (85,291) 2,907,583

37

RESTRICTED FUNDS
SINGLE-COUNTRY PROG
MULTI-COUNTRY PROG
P&R PROGRAMMES
RESTRICTED INDIVIDUA
OTHER		 Funds in 2022
£
£
£
£
£
£
Project
Purpose
Opening Balance
Income
Expenses
Transfers between
funds
Foreign Exchange
Gain/(Loss)
Balance 31/12/2022
RAMMES
Afghanistan EPD Local Action Fund
Local Action Fund civil society resilience
-
540,646
(573,088)
152,089
-
119,647
FOCHI Super courts
Other locally-led peacebuilding action
58
-
-
(58)
-
-
EPRM Peace Gold
Other locally-led peacebuilding action
(10,847)
113,873
(143,477)
-
-
(40,451)
EWER Systems Ituri & North Kivu (Zivik)
Other locally-led peacebuilding action
-
80,347
(80,257)
-
-
91
Radio Amani
Peace education and awareness-raising
-
20,000
(19,167)
-
-
833
Beni Action Research Carnegie 2022-24
Peacebuilding research
-
131,961
(45,039)
-
-
86,922
GOAC FOCHI 2022-23
Other locally-led peacebuilding action
-
16,742
(15,560)
-
-
1,181
Myanmar Local Action Fund
Local Action Fund civil society resilience
-
213,842
(55,247)
-
-
158,595
Aware Girls Commonwealth Foundation 2017-2020
Other locally-led peacebuilding action
36,630
-
(21,511)
-
-
15,119
Aware Girls Network for Social Change (& others)
Other locally-led peacebuilding action
6,000
-
(6,000)
-
-
-
HIVE Ploughshares 2020/21
Other locally-led peacebuilding action
1,298
-
-
(1,298)
-
-
CDA Ploughshares 2021/22
Other locally-led peacebuilding action
85
-
-
(85)
-
-
Chino Cienega 2015-2019
Other locally-led peacebuilding action
8,249
-
(8,249)
-
-
-
CFPS Belgian MFA 2017-2019
Other locally-led peacebuilding action
12,123
-
(7,231)
(4,892)
-
-
CFPS PPL Matchfunding Belgian MFA 2017/18/19 (PPLOther locally-led peacebuilding action
19,664
-
-
(19,664)
-
-
CFPS FCO3 2016/17/18
Other locally-led peacebuilding action
(19,664)
-
-
19,664
-
-
Network for Social Change 2021/22
Other locally-led peacebuilding action
7,666
-
(7,665)
()
-
-
Hurras Peace Committees in N Syria
Peace education and awareness-raising
-
15,000
(15,000)
-
-
-
Simon Fisher MA Course
Peace education and awareness-raising
5,000
-
(5,000)
-
-
-
RAMMES
FCDO Jo Cox 2019/20/21/22
Other locally-led peacebuilding action
(46,746)
210,282
(164,624)
983
-
(104)
YAPP SIDA 2019/20/21/22
Local Action Fund youth peace and security
56,661
119,538
(163,194)
(11,200)
-
1,805
PPL 2021
Organisational development Peace Direct and partners;
other peacebuilding initiatives; peacebuilding research
-
-
-
-
-
-
PPL Extra 2021/22
Organisational development Peace Direct and partners;
other peacebuilding initiatives; peacebuilding research
111,215
212,500
(209,843)
(91,973)
-
21,899
PPL 2022/23
Organisational development Peace Direct and partners;
other peacebuilding initiatives; peacebuilding research
-
675,000
(606,441)
(55,000)
-
13,559
LAF Robert Bosch 2020/21/22
Local Action Fund violence prevention and
peacebuilding
107,440
-
(61,752)
-
-
45,688
LAF Pax Sapiens 2020/21/22
Local Action Fund violence prevention and
peacebuilding
4,213
-
(4,617)
404
-
-
LAF Anonymous 2019/20/21/22
Local Action Fund violence prevention and
peacebuilding
355,738
252,292
(548,613)
-
-
59,417
LAF Blandford Lake 2021/22
Local Action Fund violence prevention and
peacebuilding
9,500
-
(9,500)
-
-
-
Peace Nexus MEL 2020/21/22
Peacebuilding research
17,180
-
(12,483)
-
-
4,696
Global Campaign 2022/23
Peace education and awareness-raising
-
173,551
(24,010)
84,827
-
234,368
SAS2.0
Peacebuilding research
36
83,281
(83,317)
-
-
1
JRCT UK Advocacy
Support for Peace Direct's UK Advocacy Programme
8,609
50,828
(50,622)
-
-
8,815
Robert Bosch Advocacy 2021/22/23/24
Support for Peace Direct's EU Advocacy Programme
311,522
-
(95,615)
-
-
215,907
Strength from Adversity
Peace education and awareness-raising
-
17,800
(10,043)
-
-
7,757
NSC - Decolonising Aid
Peace education and awareness-raising
-
16,600
(16,600)
-
-
-
RTC Book and online course
Peace education and awareness-raising
187
-
-
25
-
212
Working with Conflict Online Course Polden-Puckham 2Peace education and awareness-raising
25
-
-
(25)
-
-
UNPBN Mapping Local Peacebuilding Sahel 2020
Peacebuilding research
-
48
-
(48)
-
-
FFS
Peacebuilding research
57,559
-
-
(57,559)
-
-
FFS ALG
Peacebuilding research
10,697
-
-
(10,697)
-
-
SAS
Peacebuilding research
115,420
-
-
(115,420)
-
-
-
-
L DONATIONS
-
-
DRC CRC Individual Donations
Core support for local partners
1,202
3,133
(3,614)
-
-
721
Pakistan Aware Girls Individual Donations
Core support for local partners
2,180
375
(2,555)
-
-
-
Sri Lanka CPBR Individual Donations
Core support for local partners
8,121
1,683
(9,359)
-
-
445
DRC FOCHI Individual Donations
Core support for local partners
(254)
-
-
58
-
(196)
Afghanistan EPD Individual Donations
Core support for local partners
803
24,314
-
(25,116)
-
-
Henri Bura Ladyi Fund
Core support for local partners
47
400
(468)
22
-
-
Pakistan CDA Individual Donations
Core support for local partners
-
50
(5)
-
-
45
5% Salary & Overhead Reserve
36,933
-
(3,618)
14,190
-
47,505
TOTAL RESTRICTED FU NDS
1,234,548
2,974,086
(3,083,383)
(120,774)
-
1,004,477
DESIGNATED FUNDS Advocacy Designated
Supporting Advocacy Projects
23,198
-
-
-
-
23,198
Research Designated
Supporting Research Projects
21,278
-
(14,825)
183,724
-
190,177
Future Commitments Fund
Supporting Future or Emergency Projects
50,000
-
-
-
-
50,000
Partner Core Support Fund
Supporting Partners Core Activities
25,446
-
-
34,144
-
59,591
Foreign Exchange Gain Reserve
Arising from net unrealised exchange gains, to be
utilised in offsetting any future foreign currency
exchange losses
44,938
-
4,500
44,024
-
93,462
Wellspring Designated 2019/20/21/22
Supporting General Organisation Support
40,668
180,159
(205,844)
-
-
14,983
Humanity United Designated 2019/20/21/22
Supporting General Organisation Support
136,095
294,876
(301,256)
(64,827)
-
64,889
OSF Designated
Supporting General Support and LAF Colombia
-
446,017
(144,765)
-
-
301,252
TOTAL DESIGNATED FU NDS
341,624
921,052
(662,189)
197,066
-
797,552
UNRESTRICTED FUNDS 607,932
413,588
(246,970)
(76,292)
44,450
742,708
ALL FUNDS 2,184,104
4,308,725
(3,992,542)
-
44,450
2,544,737

38

Peace Direct Notes to the accounts

For YEAR ENDED 31 December 2023

12 ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS

Tangible Fixed Assets
Net Current Assets
As at 31 December 2023
Tangible Fixed Assets
Net Current Assets
As at 31 December 2022		 2023
2023
2023
2023
Unrestricted
Funds
Restricted
Funds
Designated
Funds
Total Funds
£
£
£
£
11,285
-
-
11,285
698,334
1,434,147
763,817
2,896,298
709,619
1,434,147
763,817
2,907,583
2022
2022
2022
2022
Unrestricted
Funds
Restricted
Funds
Designated
Funds
Total Funds
£
£
£
£
9,863
-
-
9,863
370,133
513,714
1,651,027
2,534,874
379,996
513,714
1,651,027
2,544,737

13 RELATED PARTY TRANSACTIONS

No trustees were re-imbursed for expenses during the period (2022 £nil) .

One trustee received £740.20 from the charity for contribution to a publication (2022: £360)

During the year, Peace Direct transferred £336,443 to our affiliate in the United States, Peace Direct Inc. (2022: £389,238). At year-end, £11,395.70 was owed by this organisation

14 FINANCIAL COMMITMENTS

At 31 December 2023, Peace Direct's future minimum lease payments under non-cancellable operating leases are as follows:

LAND & BUILDINGS
Less than one year
One to five years
Total commitments		 2023
Total
£
30,000
17,500
47,500		 2022
Total
£
30,000
50,000
80,000

(The Charity was committed to a rental agreement until August 2025 at 31 December 2023)

15 LEGAL STATUS OF THE CHARITY

The charity is limited by guarantee and therefore does not have a share capital. The liability of the members is limited to the sum of £1 per member, and the number of members was 10 (2022: 10)

39