Company registration number: 06891597 Charity registration number.. 1130363 Voices in Exile (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024 *AEC7DARM* 3010912025 COMPANIES HOUSE 21 Volces in Exile Contents Reference and Administrative Details Trustees. Report 2to9 Independent Examlnerfs Report 10 Statement of Financial Activities Balance Sheet 12to13 Statement of Cash Flows 14 Notes to the Financial Statements 15to29 Volces In Exlle Reference and Admlnlstratlve Delails Char5ty. Registration Numbor Company Registration Numb•r 06891597 The charity is incorporated in England & Wales. 36 Upper Bedford Street Brighton England BN2 1JP 1130363 Reg18tered Office Independent Examiner Lohur & Co Ltd Chartered Certified Accountants and Registered Auditors 35 New England Road Brighton East Sussex BN14GG Page 1 Voices in Exile Trustees. Report The trustees, who are directors for the purposes of company law. present the annual report together with the financial statements and auditors. report of the charitable company for the year ended 31 December 2024. Objectives and a¢tivities Ob"ects and aims Voices in Exile is constituted as a charitable company limited by guarantee and is therefore governed by its Memorandum and Articles of Association which are also its objects. The objects of the charity are to offer a holistic service, reflecting the needs of its service users, collectively and individually. This seNice has to be broad and flexible in order to encompass the wide range of people who are supported, namely asylum seekers, refugees and those with no recourse to public funds, and the extensive obstacles in all areas of life that these people can face. As one of the key support organisations in the Brighton & Hove area working with these groups. and with the closure of a huge arnount of relevant services this year the need for these services is increasing dramatically. Overview In 2024, Voices in Exile continued to provide essential support to refugees and asylum seekers. adapting to a challenging political and economic landscape. Following a compekn'tive tender process, we successfully won a new Home Office-funded resettlement contract with Bri9hton and Hove City Council, with a new focus on employability and ESOL. Wrth rising political tensions, increased demand for services, and growing competition for funding, VR nevertheless continued to expand our staff team, our turnover and our carry-forward, maintaining our commitment to delivering holistic, person-centred services. The charity also expanded its outreach, improved staff wellbeing, and overhauled its communications. Despite staffing challenges and ongoing systemic pressures, we remain dedicated to advocating for migrant rights and building long-tem resilience within the communities we serve. Resettlement Following the evacuation of 15,000 people to Britain from Kabul in August 2021, Voices in Exile was given the Home Office funded local authorily contract from Brighton and Hove City Council to provide wraparound casework and accommodation preparation for 50 - 70 clients a year. Towards the end of 2023, the council infomied u5 that the size of the contract necessitated a formal competitive procurement process and consulted with us about changes to the aims and objectives of the contract. With support from a pro bono consultant (funded by the Lloyds Bank Foundation) and much input from senior managers, we tendered for the contract and were successful, despite much local, national and international competition. The process was extremely time-consuming for staff and senior managers in particular, and took place at the expense of other fundraising. The new contract went live from October 1st, placing greater emphasis on ESOL and employability, and has required adjustments from staff and clients alike. The two-year programme helps families secure housing, access healthcare and education, build financial stability. and develop skills for work. Every resettled client receives a structured resettlement plan, including English language support. employability training, and cultural orientation. Page 2 Voices In Exile Trustees. Report Challenges in 2024 Political context.. Europe saw a clear shift to the right, with both the European elects'ons and national polls in France, Portugal, Belgium, and Austria showing a move towards right-wing and extremeThright politics. In the US, Trump won a second term and there was a noti￿able shift toward rtght-wing policies, particularly on issues related to immigration and national security. While Labour won the 2024 General Election in the UK, RefO￿n gained 14 % of the vote, and 5 new seats in parliament. Despite the change of govemment, there has been little change in anti-migrant rhetoric or policy. While the Rwanda plans have been scrapped, the political and media focus has remained on 'illegal' migration and the boats ralher than the creation of safe and legal routes. Following stabbings in Southport in July, far-right anti-immigration riots occurred. fuelled by false claims that the perpetrator was a Muslim and an asylum seeker. Amhough there were no riots in Brighton ts'ust a show of strength against racism), Voices, clients were nevertheless afraid, and we have adapted our services accordingly. Ob'ectives, strate Fundralslng The sector has become increasingly squeezed, with demand for our ServI￿S increasing against background of rising costs and worsening poverty. As a result, funding bids to trusts and foundations - our main source of income outside of the BHCC resettlement contract - have become very competitive, with a much lower success rate as a result. Need has increased and there is less to go around. Staff turnover We lost four key members of staff during 2024.. our immigration advice and casework manager, immigration caseworker, generalisl advice and casework manager and resettlement manager. Our director of over 7 years also announced that she would be stepping down in 2025. As a result, recruitment and succession planning has taken much capacity of the senior management, again at the expense of fundraising and strategic development. Accommodation More than 1,300 asylum seekers are in contingency accommodation in the South East region. which includes asylum hotels. Recent hotel closures have meanl people being moved across the country at short noti￿, and although the move-on period for newly-granted refugees has now been extended, we are still experiencing the ramifications of the homelessness caused by the previous period shortened under the Conservative GovemmenL ies and 8Ctivities The EU Settlement Scheme (EUSS) The EUSS has created pressures on our work. The casework involved in this is particularly complex for several reasons.. First, applicats'ons submitted now require evidence that the applicant lived in the UK almost three years ago. Some evidence types, such as old leases or contracts, become harder lo source as time passes. Second, applicants coming fop4vard more than a year after the deadline may be more likely to have vulnerabilities that prevented them from applying sooner. Third, there is now more time for people to have arrived after the cut-off date and applied for the EUSS despite-knowingly or unknowingly-not being eligible. Page 3 Voices in Exile Trustees. Report Digital evlsas The Government planned for a digital immigration status system to go live at the end of December 2024, at which point physical biometric residence permits (BRPS) needed to be replaced with digital evisas. An estimated 500,000 or more non-EU immigrants with leave to remain in the UK needed to replace their physical BRPS however, the Home Office dKI not communicate the switch to evisas clearly to Ihose who needed to kn¢wi about it. The govemment has since rowed back on the deadline and agreed that those who need to travel can still do so using their paper documents or current BRPS - but this is a temporary concession and we are likely to see another cliff edge loom in July, when the temporary transition period comes to an end. This has created and will conb'nue to create a high volume of work for us as an organisation. Growing our volunteer base to 40+ active volunteers working in a number of new roles including migrant support, food bank and casework support; Continuing to provide intensive casework support to ￿settled refugee families in Brighton & Hove, including a new stream of work supporting Afghan families following their arrival in the UK and (not so) lemporary accommodation in bridging hotels: Continuing to provide phones, digital devices and wifi where possible and where otherwise people would find themselves digitally excluded from services. from learning opportunities and from making and maintaining social connections. We also continued to consolidate our governance and infrastructure and completed work on developing our client management database AdvicePro. ensuring that all the outcomes set out in our strategic plan are embedded from the start so that we can track how the outputs and interventions in our day-tfiday work contribute to these. Extemally, we continued to lead on and participate in key local and regional strategic and operational neiworks and to contribute to consultations and policy inrtiatives on issues affecting our refugee and migrant service users, especially in relation to the issues of migrant homelessness and the conditions and issues experienced by newly arrived asylum seekers - including unaccompanied asylurn-seeking children being housed in a growing number of'contingency, hotels in the city and region. We continued to prioritise staff wellbeing in the aftermath of Covid, with a number of staff events and workshops focussing on how to manage the stress and demands of frontline work, and ongoing provision of clinical supervision for all client-facing staff. And we were thrilled to welcome Little Amal, the 2m Syrian refugee puppet who has travelled across the world to spread her message of hope and humanity, to Voices. Page 4 Volces In Exlle Trustee8' Report Fundraisin disclosures Impact and achievements In 2024 we.. dealt with asylum and out-of-scope immigration matters for 342 clients (161 intensive casework and 181 one-off advice), working with around 32 new clients per month and have 45-55 ongoing cases at any one time, with cases being open for periods from 3 months - 2 years delivered generalist advice and casework support for 585 clients on housing, asylum support and entitlements, Much of this work provides immediate relief from financial hardship. ensuring that those in crisis Can access urgent help, and in 2024 we spent £37,500 on hardship grants for our clients provided practs'cal support. informalion and signposting through our independent weekly food bank for around 150 generalist client household members Page 5 Vo5c•s In Exlle Trustees. Report started outreach advi￿ work at a weekly drop-in to support asylum seekers placed in hotels in Brighton and Hove delivered 3 groups a week during term time to support wellbeing, digital inclusion, local orientation, social networks and personal resilien￿ for around 50 - 60 people provided intensive ongoing casework support, workshops and one-off advice ft)r 200 clients to support employabilrty and skills development. As a result, Voices in Exile feels better pla￿d to deliver holistic. joined-up and person-centred services that enable people to build long-term hope and resilience provided wraparound holistic casework for 170 clients (including 67 new arrivals) on Home Office funded resettlement programmes (currently predominantly from Afghanistan), for whom we prepared accommodation. set up utilities, tenancies and furniture, and for each adult client provided a structured resettlement plan, including English language support, employability training, and cultural orientation supported staff wellbeing through an externally facilitated coach who ran workshops and established regular reflective group practice for frontline staff ' won a £50,000 a year grant to disburse to clients in need from Glasspool, which can be used for varied items according to need continued to lead on and participate in local strategic development, influencing and advocacy to highlight the needs of, and advocate for. migrants, rights and needs increased the number of community events we host and participate in, and our links to supporters such as the Brighton and Hove Progressive Synagogue and Brighton and Hove's first Muslim Mayor • overhauled our communications with a new website: a logo rework,. much improved social media" a new newsletter: and work on our first Theory of Change and Impact Report (published 2025) The trustees are aware that the funding landscape remains a challenging one, and that again this year we have relied largely on funds carried fO￿ard to maintain some of our core services. Nevertheless, instead of the anticipated deficit we were able to maintain a small surplus of £128,260 <2023 - £58,227) and ended the year carrying fopward assets of £866,444 (2023 - £738,184), with unrestricted funds of £474,912 in line with our reserves target (including designated funds of £215,160). The trustees consider this a good outcome in the circumstances. The trustees are pleased to note that we are slowly increasing the proportion of unrestricted funds to enable us the greatest flexibility in responding to staffing and delivery needs,. but are aware that there is currently hugely increased competition for fewer available funds. We employ rigorous budgetary controls to manage the assets of the charity. Page 6 Voices in Exile Trustees. Report Trustees would like to thank the following for their generosity in funding the work of VIE over this year.. AB Charitable Trust Brighton & Hove City Council British Red Cross Glasspool Flexible Frontline Fund Lloyds Bank Foundation Pathway Homeless & Inclusion Fund Paul Hamlyn Foundation National Lottery Cost of Living Fund Refugee Homes Ltd. And a number of significant individual donors and small local community grants - thank you. Public benefit The objectives of the charity fall within the criteria of section 3(1)(a), 3(1)(h) and section 3(1)(J') of the Charities Act 2011 and thereby the organisation, which has been established for charitable purposes, is for public benefit. The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charty Commission for England and Wales. Golng concern The dedication of the Charity's employees and volunteers together with its incredible funders meant that the Charity navigated the Covid-19 global pandemic very well as we eventually shook off rts final impacts in 2022. The invasion of Ukraine by Russia has not impacted the charity's ability to operate and the Trustees do not consider this a significant risk that could impact going concern. The continued support of key tunders and the plans to secure new funding streams has meant that the Trustees consider the Charity to remain a going concern. Trustees and officers The trustees and officers serving during the year and Sin￿ the year end were as follows.. Trustees.. Mr Adam James Saddler Hickie Ms Catherine O'Donnell Mr Nicholas Scott-Flynn Mr Alexander Sutton Mr Andrew Martyn Jackson Ms Jyob. Kakad (resigned 11 February 2025) Page 7 Voices in Exlle Trustees. Report Structure, governance and management Flnanclal Instruments Ob"ectives and licies The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charitys policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charty does not use derivative financial instruments for speculative purposes. Risk mana 8ment The trustees actively review the major risks that the charity fa￿S on a regular basis and believe that maintaining resen4es at sufficient levels, combined with an annual review of the controls over the key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined the other operational and business risks faced by the Charty and confirm that they have established systems to mitigate significant risks where they a￿ identified. Credit risk The charity's principal financial assets are bank balances and cash and trade and other receivables. The charity's credit risk is primarily attributable to its trade receivables. The arnounts presented in the balance sheet are net of allowances for doubtful re￿1vableS. An allowance for impaiment is made where there is an identified loss event which, based on previous experience. is evidence of a reduction in the recoverability of the cash flows. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. statement of trustees. respons5bilitie8 The trustees (who are also the directors of Voices in Exile for the purposes of company lawl are responsible for preparing Ihe trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢￿pted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial staternents, the trustees are required to: select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial siatements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. Page 8 Volces in Exile Trustees. Report The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any ts'me the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detects'on of fraud and other irregularits'es. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemina￿.on of financial statements may differ from legislation in other jurisdictions. D5sclosure of informatlon to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on 10 June 2025 and signed on its behalf by am ames Saddler Hickie Trus Page 9 Volces in Exile Independent Examiner's Report to the trustees of Volces In Exile {'the Company. I report to the chanty trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Re8pon81bilitles and basls ol report As the charity's trustees of the Company (and also ils directors for the purposes of company law) you are responsible for the preparation of the ac¢ounts in accordance with the (equifemenls of the Companies Act 20061'lhe 2006 Aci'i. Having satisfied myself that the accounts ol the Company ere not required lo be 8udlled under Part 16 uf the 2006 Act and are eligible for independent axamination. I report in respect of my examination of your charily's accounls as carrie¢J out under seclion 145 of the Charities Act 2011 {'Ihe 2011 Act,). In carrying out my examination I have followed the Oireclh?ns given by the Charity Commission under 68Ction 14515){b) of the 2011 Act. Independent •xamlnor'$ 8tat•m•nt Since the Company's 9ross Income exceeded £250,000 your examiner musl b8 a member ol a body listed in section 145 of the 2011 Act. I confirm Ihat l am qual-rfied lo undertake the examination because l Bm a memb•r of Associallon ot Chartered Cerlifi8d Accourbtanls. which is oné ol the listed bodies. I have completed my examination. I confirm that no m8llèfS have come to my attention in Connection with the examinalioh. giving me cause lo believe= 1. accounting records We￿ not kept in respect of Voices in Exile as required by seclffi 386 of the 2006 Act.. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accountirsg requirements of section 396 of the 2006 Act other than any requirement thal the accounts give a 'lrue and fair view, which Is not a matter Considered as part of an independent examination.. of 4. the accounts have not been prepared in accordance with the methods and prlnciples of Ihe Sialemenl ol Recornmended Praclico for accounling and reporting by charilies lapplicable lo charities pre￿rIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)1. I have no concerns and have corne across no other matter5 in connection with the examination lo which atlenlion should be drawn in this report in order lo enabl8 a proper underslandin9 pf the accounts to be reached. FOT and on behalf of Lohur & Co Ltd Chartered Certified Accountants and Registered Auditorg 35 New En918nd Road Brighton East Su55ex BN14GG Dale.. Page 10 Voices In Exlle Statement of Financlal Activltles for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Galns and Losses) Total 2024 Total 2023 Note Unrestricted Restricted Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 215,419 171,854 466,689 387,273 466,689 368,727 317.361 100 20,974 20,974 Total Income 236,393 638,543 874,936 686,188 Expenditure on: Raising funds Charitable activities {55) (627.906) (40.2171 (706,459> (746,6761 Total Expenditure 140,217) (706,459> (746.676) (627,961) Net incomel{expenditure) Transfers be￿een funds 196,176 {98,503 97,673 167,9161 98,503 128,260 58,227 Net movemenl in fund8 30,587 128,260 58,227 Reconcillation of funds Total funds brought forward 377,239 360,946 738,184 679,957 Total funds carried forward 19 474,912 391,532 866,444 738,184 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 19. The notes on es 15 to 29 form an inte ral art of these financial statements. Page 11 Volces in Exile (Registralion number: 068915971 Balance Sheet as at 31 December 2024 Note 2024 2023 Fixed assots Tangible assets Current a$s•ts Stocks Debtors Cash at bank and in hand 14 4,378 4.883 15 16 17 929 274,686 603,756 309 162,564 618,035 879,371 (17,305) 780,908 (47,607) Creditors: Amounts falling due within one year 18 Net current assets 882.066 733,301 Net assots 866,444 738,184 Funds of Ihe charity: Restrlcted 391,532 360,945 Unrestricted incom• fund8 Designated Funds General Funds 215,160 259,752 90,160 287.079 Total unrestricted funds 474,912 377,239 Total fund8 19 866,444 738,184 For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities: The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476: and The directors acknowtedge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The notes on es 15 to 29 form an inte ral art of these financial statements. Page 12 Voices In Exile (Regigtratlon number: 06891597) Balance Sheet as at 31 December 2024 The financial statements on pages 11 to 29 were approved by the trustees, and authorised for issue on 10 June 2025 and signed on their behalf by.. am mes Saddler Hickie Trus The notes on es 15 to 29 form an inte ral art of these financial statements. Page13 Voices in Exile Statement of Cash Flows for the Year Ended 31 December 2024 Noto 2024 2023 Cash flows from operating activities Net cash income 128,260 58,227 Adjustments to ¢a8h flows from non-cash Item8 Depreciation Investment income 2,076 120.974) 109,362 1,462 59,689 Working capital adjustmonts Increase in stocks (Increase)Idecrease in debtors Decrease in creditors 15 16 18 1620) 1112,122) 130,417) (309) 14,728 (50,903) Net cash flows from operatlng actlvltle8 {33,797 23,205 Cash flows from Investlng activltle8 Interest received Acquisitions of tangible assets Net cash flows from investin9 activities 20,974 (1,456) 19.518 (3,270> (3,270) Net {decrease)lin¢rease in cash and cash equivalents {14,279 19,935 Cash and cash equivalents at 1 January 618,035 598.100 Cash and cash equlvalents at 31 December 603.756 618.035 All of the cash flows are derived from continuing operations during the above two periods. The notes on es 15 to 29 form an inte ral art of these financial statements. Page 14 Voices in Exile Notes to the Financial Stalements for the Year Ended 31 December 2024 1 Charlty status The charity is limited by guarantee. incorporated in England & Wales. and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidab"on. The address of its registered office is.. 36 Upper Bedford Street Brighton England BN2 1JP These financial statements were authorised for issue by the trustees on 10 June 2025. 2 Accounting policies Summ8 nificant accountin licies and ke accountin estimates The principal accounting policies applied in Ihe preparation of these financial ststements are set out below. These policies have been consistently applied to all the years presented, unless otherbvise stated. statement of com liance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of aration Voices in Exile meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenNise stated in the relevant accnunting policy notes. Goin concem The trustees consider that there are no material uncertainties about the charty's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charty. Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 15 Voices in Exile Notes to the Financial Statements for the Year Ended 31 December 2024 2 Accountlng policles (contlnued) Donations and I acies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of Ihose conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement to Ihe funds and any conditions linked to the grants have been met. Where performan￿ conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Investment Incom8 Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Ex enditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probab18 settlement is reqUI￿d and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consislent with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff cnsts. Raisin funds These are costs incurred in attracting voluntary income, the rnanagement of investments and those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises ihose costs incurred by the charity in the delivery of its aclivities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those cosls of an indirect nature necessary to support them. Grant rovisions Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. ort costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocaling propety costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributsble to the charity's cornplian￿ with constilutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Page 16 Volces in Exile Notes to the Flnancial Statements for the Year Ended 31 Decomb•r 2024 2 Accounting pollcles (contlnued) Government rants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over Ihe period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxation The charity is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definits'on of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tan ible fixed assets Individual fixed assets costing £250 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. De reciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows- Asset class Computer equipment Stock Stock is valued at the lower of cost and estimated selling price less costs to compleie and sell. after due regard for obsolete and slow moving stocks. Cost is detemined using the first-in, first-out (FIFO). Deprecialion method and rate 250/0 Straight line Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effeclive interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terrns of the receivables. Cash and cash e uivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 17 Voices in Exile Notes to the Flnancial Statements for the Year Ended 31 December 2024 2 Accounting policies (continued) Trade creditors Trade credilors are obligations to pay for goods or serVI￿S that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least ￿e1ve months after the reporting date. If there is an unconditional right to defer settlernent for at least ￿e1ve months after the reporting date, they are presented as non