Comp&ny registr&ion number. 06778302 Cbarity regiStr￿lon number.. 1136725 Pan-Asia Community Housing (A compw limitrd by guaTantre) for the Year Ended 31 March 2021 David Dixie F C A Dixie Associates 167 Black Haynes Road Selly Oak Binningham B29 4RE F78Y26' 1W1012021 COMPANIES HOUSE #71 P*D-Asix CommuDity Housing Contents Trustees. Report 2to3 Statement of TTustres' Rwn$ibilities Indepen(knt Examinetrs Ret Statement of FiDwKial Activiti&s Balance Sh¢¢t Notes to th¢ Finatieial Ststetnettts 8t015 Pan-Asia Community Housing Ref¢ren¢¢ *nd Administrative Details Tru$ttts J Masih JROY J Miller.D¢n)isovsk4 C T Bourne E J Bourne Se¢r¢t*ry KAHJorKs Other Offi¢¢rs R BaTker. Trea5ureT Pri#tipal Offiee Sandw¢ll B67 5DD Registered Office ' 9 Herbert Road Sandwell B67 SDD The charity is iD¢OT￿rted in United Kingdom. 06778302 Company Re￿￿tr￿(lo* Number Charity Regisfrntiffi Number 1136f25 BaDk¢rs CAF Bank Ltd 25 Kings Hill Avem Kitigs H West MalliDg Keni ME194JQ David Dixie F C A Indepetsdetst E￿Ill￿tr 167 Black HayDes Ro&1 Selly Oak Birmingharn B29 4RE Page I PaD-Asia CoDUnUOity Housing Trnstees, Report Th¢ tr￿s. wljo are directors for the purp)stt of compaDy law. pre5eni the aDnual r¢wt tQ8¢ther with the fmallcial stalements of the thoritabl¢ cornpany for th¢ year ended 31 Marth 2021. Objectives •¢tivititg PubU¢ bthej The tr￿S(eeS confirni they have complied with th¢ requir¢nJents of section 4 of the Charities Act 2011 to have due regard to th¢ public beo¢fit 8uid&ce published by the Ckarity ComMi￿lOn for England aDd Wales. Objects The Objects for which Pan-Asia comm￿lty Housing i% &%tsbli5bed #Te:: To assist ID the provis1￿) of affordable ¥XoTr￿n0thon WKI housing rn￿¢m¢nt wvice& Pri￿￿llY but Lot exclusively. for persons of South E4st origin living in the Midlands who are in conditioDS of ne¢(L Fvverty or distress. To advance education and tsaining aTvJ ￿lIeve fin8nciAI h￿￿$b]p. primaTily not exclusively. an￿n8St persons of South East Asi•] origits living in the MidlaDds who are in CODditions of need. wjverty or distre4 particularly by the prnvision of suprAMt servicts w advance them ID 13f¢ and assist th¢m adapt witbin a n¢w Referrals ln supp)rt of our object& referrals were by the following organiwions the year. LettI￿g Agents Cburch Groups artd Commwiity organisknons Volunteers Voluntrers CODtitiue to render ¥aluabl¢ s¢rvi¢¢ and w¢ d¢ployed fow duritig th¢ year. Acbi¢vemeDts For th¢ year Cover￿ by this r¢wl we have been able ￿ de[tt0Tr￿tra* a strong record of efftctive outcome d¢liY¢ry. During the twelve mondL8 we ljave cared for and sup1￿ted 17 xlujts and 4 ¢hildr¢D in 12 properties. Six adults aDd fouT ¢hildr¢n wff¢ fr(xn dknic miwity and a six of mainland European txring th¢ year we Wica]ly lost a WI￿ w&% killed in a ToAd traffic accident whilst riding bis bicycle. (kn approacb to housing procurement is noD-rnUtiDe and nOTr-￿￿ ID that w¢ ty to introduce prnperti¢s to ow ho.using stock which bave never before beeD 4vaitable th¢ rEntal markeL Often properties are in a derelict or POOT condition and we projed manage their refiwbisFllnent back to a go(yd babitsbl¢ standard. W¢ b¢liev¢ that this slightly different approach for bringing n¢w rentsl prowiies to the nwket can increase the 8mouni of social housing Stock aY4iiabie attd offer sott)e* Dew for other organi￿￿ ill the Chari¢8ble I￿uSing sector to replicate. Pan-Asi* Conymunity Housing Trusteu. Report There is a genernl willingne&s within the Organi￿ to wolk ￿ the risky"aDd the Un￿￿4T aTM1 from th¢ opwrruniiies presented to us during the year we are looking to e5tsblish 4 speci¥l n¢¢ds ho￿1n%'prOje¢t in the next financial year. Finaneial review Careful attention IL8 beeo given to our r￿janCIal managemeDL However the ￿¢¥)￿)￿ sIM)w that our income fractiottally exceeded our expenditiwe and ended the fllwKial year wth no rent arre4ts and no bad debts. Fund-rnlslng No active fimd-rnising took placz during the year. Non-FiDaneial Support Once again we express our thanks to all those pei)ple who b*v¢ worted ftiithfulty behithl the scenes supportiDg U5 with smaEI di$buTs¢meihts of money. th¢ir tim¢ and J>ractical servrces. most without public reCo￿ttion or reward. Such people create and maintain the wery'soul. of our Or￿ls￿. The thext twelve months For thir*en years the OTgaDisation ha5 been run by an 'all.volwJt¢¢r' stsff. During those thirteen years we have proved the Deed" for ow servi￿S and idenlifj¢d Dew S¢TVif¢5 that we should provide. All fijnds used by the organisation have beett self-getteTated. An opornmity has arisen for us to merge T￿1 an(xb¢r I￿￿1ng chty. The merg¢r will briDg a hos*1 into the portfolio and the opportunity lo create a spxial ttee(Ls Iwing project is tr)w within YeaclL Some element of fund.rdising ￿11 be r¢quiTrd to fvnd th¢ m¢rg¢r wsts. We will a]$0 Continue to s¢¢k furtl*r Fmperty owners T*ho willing to parner us and iDcreas¢ our housing stock a￿OrdIng[y. FIDaDelal IDStr•ments Credlt rlsk Th¢ ¢barity'S prtncipal fllwicial assets are bank balances and rash. trade and other receivablK aDd investments. The charity's credit risk is pritnarily attributable to its trade receivables. The •no￿ts presented in the balance sbeei are net of allowances for doubtful re￿}Vable5. AD allowan￿ for impaimieni is tnade where there is an idenlified loss event whicM b￿ed on previo￿ expeTience. is evidence of a reduction in the recoverdbility of the h tlows. The credit risk on liqutd fitn&8 and derivative fitmncial iDslrnents is limited be￿ th¢ wunt¢rparti¢s are banks with high credit.ralings aSsi￿)e0 by iDtwnaliona] credit.rating ¥gencies. The charity one sigryifi¢ant Concentration of credit risk in that five of our properties have the same landloTd. Thereafter ¢xp05ur¢ is spr¢ad Ovfx 4 nutnb¢r of CoUBterp￿ atsl CUStsMllers. The #Trnual ￿p)rt was approv¢d by th¢ trustres of the charity on 23 June 2021 and signed on its behalf by: oy Trustee Pan-Asi* Community HoustDg Statement of Tn￿trt8, Responsibilities The trUS￿S (wbo are ￿$0 th¢ of PoD-Asia Community HO￿illg for the purwses of company law) are 8pon5ibl¢ for pr¢poTing the tnL8tees' Yepxt and the fiDaDcial ststements iti accordance with the Unit¢d Kingdom Accouniang StsndaTds (United KiDgdom GeD¢AUy A¢¢eMul A¢wuDting Pradice) and 4)plicable law and regulations. C07npany law requtres the trusttt5 to prepare finall¢1￿ StatrIn￿ for each finyncial year. Under company law the trust¢es must not approve the financial thents un1¢5s they are sakn"sfied they give a true aryj fair view of the stste of affairs of the charitsble company #Dd of its incomTrng TesOur￿5 aThl application of resources, irtcludiDg its in¢ouK and expenditWE. for that period. In prepartn8 these financial statements, th¢ truste¢5 are required to: select suitable accounting policies and apply them con5iSt¢otly" observe the methods and prirKiples in the Cbarities SORP. make judgements and estim8tes that are re￿nable ard pn slate whether applicable UK Accounting Stsndard5 hav¢ fouorf subj¢¢l to aoy ll*iai departures disclosed and explaintd in th¢ financial stst¢tnents" and prepare the financial 5tst¢nKnts on thr goiDg cowern basis uDl&ss il is in8wropriat¢ to prtsume that the ch&Titable compatty will continue in business. The trustees are responsible for keeping adeqy*e Tecord5 that ar¢ sufficient to show and explain the Ch￿]table Cornp￿￿S transactions and disclose with reasonable a¢curdCy at any time the fjDancial position of the charitable compatty and enable them to ensure th￿ the financial stst¢ments comply with th¢ Companies Act 2006. They ar¢ also re5FK)Dsible for 5#feguardiDg the &%sets of the charitsble company and hence for tsking reasonable s*ps fc* the and de¢e¢tiw of fraud and other irylarities. Approved by the tr￿￿ttS of the charity on 23 2021 sig￿￿ OD its behalf by: Trustee Pan-Asia Community Housing Independent Ei*miDerf$ Report to the trusttts of Pao-Asia Community Housing I report ott tbe accouDts of the charity for the year ended 31 Match 2021 ￿l¢b are set out on pag¢s 6 to 15 . Respective respoAsibllltles of trustees •nd t￿miner The trumees (WI￿ aT¢ also the directors of the company for the pU￿￿$¢S of company law) ar¢ re5ponsibl¢ for the preparation of the accounts. The trustees v)Dsider that aD audit is nrt requirnl for this yeaT under section 144(2) of the Chariti¢5 Act 2011 (the 2011 Act) and that an indyndent examinknon is needed: Having satisfied myself that the charity is wbj¢¢t to *udii under law and is eligibk for independent examination. li is my responsibility 10: examine the accounts under section 145 of the 2011 A¢ to follow the procedures laid dokn￿ ID th¢ general Diredi￿$ given by th¢ CbaTity CommisstoD under section 145(5)Ib) of th¢ 2011 A¢4 and to 51at¢ whether particular have come to tny •ttention. Basis of iThdepeTrdettt examiner's report My exathinakniln was carried out in aCCo￿a￿e with the gU￿ra1 Directions given by the Charity Commission. An examination includes a review of the accounting re￿rdS kept by the ch￿lty ODd a romparisi)n of the accounts presented with those r￿ords. It Jlso includes wnsiderdtion of aDy WIU5ual iiems or disclosures in the accoun￿ and seeking explanations frnm you trLLStees concerning aDy such matters. The procedures undertaken do not provide all the evidence that wthjld be required in an audit and ¢OD5¢quently no opinion is given as to whether the accounts present a 'true and fair view, aDd T¢PK>rt is IiEDited to those ttwtters set oul in th¢ sta*ment I￿lOw. IDdep¢DdeDt eL*miTrer's statement In ¢onn¢ctiort with my ¢x8minatioty no maller has u>me to my allention: (l) wbicb gives me reasonable cause to b¢lieve that in any m*erial rwect thB fv4ulyem￿ts. . to keep accouniing records in ￿¢0rdaY￿e with section 386 of the Compani¢s Ad 2006. and . . to Prepate aceouDts wbich accord with the a¢￿￿tIng record& cotnply with the acwuntin8 Tequirements of secrion 396 of ihe Companies Art 2006 and with th¢ and principjes of. the Ststement of have not been meL or (2) to which, in my Opinio￿ attentioD should be drnwD in order to enable a proper underthditig of the accounts to be r¢athed. DRDixieFCA Dixie Asw¢iates 167 Black Haynes Road Selly Oak Birniingham B29 4RE 23 June 2021 Pan-Asia Community Housing Statement of FiD•ncial Aetivities for Ibe Year Ended 31 March 2021 ODeluding Income and Expenditure AceouDt and Stst¢m¢nt of Total Re￿ZnISed GxiDS and L(psses) Tot•1 fuDds Note ll￿¢0￿e and ETrdowmeDts from: Donatith)s and le8acies Charitable activitles 24.750 .591 24,750 8.591 Totsl Inwm¢ 33,341 33,341 Expendilure OD: Charitable activilies (33,198) (33.198) Total Expellditure Net income 33.198 133.198) 143 143 N¢t mov¢m¢nt tn fimds 143 143 R¢con¢ili*tioD of funds Totsl fund5 brought forward 2.462 Tothl fut)&s carried forward 13 2,319 Unres¢rict¢d fund5 (2,319 Total 2020 Nol¢ Ineome and EndowweDts fro•: Donations and legxi¢s Charitable activities 24.550 7.933 24.550 7.933 Totsl Income 32.483 32,483 ExpeDditure OD: Charitable activities {32,939 (32,939) Total Expendihtre (32,939) 32,939 Net expenditur¢ (456) (456) Net movement in fimds (456) (456) Re￿￿till#tIOn of f4nds Totsl funds brought forward (2,007), . (2,007) Totsi fullration tsx purp05¢s. Accordingly, th¢ cl)arity is potentially exeTnpt from taxation in resw of irKonK OT capitsl gains r￿¢7¥￿ within rategories ov¢r¢d by Chapter 3 Port 1 l of the CoTporation Tox Act 2010 or S¢aion 256 of the Taxatioll of Chargeabl¢ Gaills Act 1992. to the extrnt that such incoll￿ orgains are applied exCh￿1Ve￿ to Charitabl¢ Pu￿￿. Tangible fixed ag3¢ts llldividual fixed assets Co￿lD8 £S(K).￿ or Jnore are initially T￿Orded ¥t cosL Depreciatlots Ind amorti￿tiO D¢pre¢iation is provided on tartgiThle fixed assets so &% th write off the cost or TnluaM less any C￿lmat¢d sidual value. over their expected useful ecoDOrniC life as follow5: Asset cla Offi¢e ¢quipment Furnitttye and fittings Ikpreei•¢iDn JDethod rnt¢ 25% stratght lin¢ basis l(Ph stsaighi line basis R¢s￿re￿ a•d devdopment Research and development ext*nditure is written off as incurrryL Caskn and tyuivalents C&sh and c&sh equivalents conyise cash (o hand and ￿11 and other short-kn higbly liquid investments that ar¢ readily convertible to ¥ kno￿ atDoynt of and ar¢ srthjeet to an tOSi8nificant risk of change in v8lu¢. Fuftd structure the objedives of the chartty. Pan-Asia Community Housing Notes to the FiDaDcial Statem¢fjts for the Elld￿ 31 Ma￿￿ 2021 Finan¢ial in5trumettts class￿1¢*1110v Financial assets and financi￿ liabilili¢s aff re¢o8niwJ T*hett the ¢PJarity bec(Mnes a party to the c4Xttractual provision5 of the instrum¢nt. Financial liabililies and equity tnstrurnthts are clwified actorditig io the substance of the contractual aTrang¢m¢nts eniered into. AD equity instr11m￿l is any corttrad that evidence5 a residual interest in the assets of the charity after deducting all of its liabilili¢ Reeo8nlrfon dndmeasurem￿l All financial assets and liabilities are initially measu￿1 at transactiOD pri¢¢ {iDcluding traDSaCtion costs). except for those financi41 &s5ers classified ￿ at fair value through profft or 104 wbich are initialty meL8ured at fair T￿ue (which is nonnally the traDsadion wice excluding trallsactiort wsts). un1¢s5 th¢ atrangement ¢OD5titytw a financing tran5artion. If an a￿gement W]Sti￿¢s a finarKing tr¥nsaLtioN the fiDJnci31 &%set or fmancial liability is measured at th¢ pr¢5¢nt TRkue of the fiJDrt paymellts discotsnted at a markd rate of iat¢rest for a similar debt instrument. Firtancial assets aod liabilities are onty offs¢t ID th¢ statem￿¢ of fiDaD¢1￿ Fy)s&tiOll wlm aod only when there exists a legally enforceable right to sd off the recosnised amounts and the charity intend5 eith¢r to settle on net basis. or to tealise the asset and settle th¢ liability simultaneously. Fina￿cial assets are deTeco8Dised when and onty when a) the c4)ntrachwl rigbts to the flows from the financial asset ¢xpire or ar¢ S¢ttl¢￿ b) the charity trdn5f¢TS to another party substantially all of the risks and rewards of ownership of the finaocial *ss¢¢ or c) th¢ tharity, despite having retained some. but not all. si￿1fi￿anI risks and rewards of 0￿e[ShIp. bas transfened collfrol of the assd to another party. Financial liabiliti¢5 ar¢ dereco8Dis¢d ODly wl*i the d)ligatioii spxified in the conw is d1*harg￿ cancelled or expires. The best evidenc¢ of fair value is a quot&1 price for an ideJti(al &￿t in an xtive markeL Wben quoted pri¢e$ are unavailabl¢, th¢ price of a rtt¢Dt ¢raDSadion for aD idettti¢al &55¢t provides evidenv of fair value as lon8 as th¢re h&8 not been a 5igrtificant chaoge in economic CiTcumstsntts or a significant lapse of time since th¢ transaction took plx¢. If the market Is noi adive attd recert tr3DS•dions of an idcntical a5Srt on th¢ir owth are not a good estimate of fair val￿. the fair value is estim￿ by using a valuatiOD tthique. 3 Im¢omt from don*tityns *nd Itgaeies UDr¢strictrd Total 2021 Tolal 2020 Ge•er*l Donatrd SerVi￿S and facilities 24.750 24.750 24,550 24,750 24.750 24.550 Pag¢ 10 Pan-Asia Community Housing Notes to the FinaDcig1 StstemeDts for the Year Ended 31 M&rcb 2021 4 Ineome from eh*ritsble activitie5 fuDds Total 2021 Total 2020 . Gener•1 Propety rnanageme 8J91 8,591 Prom maoagement ft&% were earneMJ on rentsl incQD￿ of £80259 (2020 . £87.955)" the asso¢i*d rent paid was £71,668 (2020- £71.023) Pag¢ii P4n-Asi* Community Housing Notes to the FiDaDcial St*t¢ments for the Year Ended 31 Mareb 2021 S Expenditurn OD eharit•bl¢ *¢ti¥itie5 U*Yes¢ri¢ted Tot*l 2021 T•t•l 2020 Gewernl Office re￿ lighi and heat lJ)suraD¢e TelephonA computer softwwe. post and stationery Managem¢Di *$ Travel and subsisience Bank charges Depreciation. amortisatiorj and 148 488 6.148 488 525 506 24.lY)O 505 24.000 24.0 600 71 71 335 1.050 335 1.050 336 913 Governallce costs 33,198 33.198 32.939 £33,714 (2020- £33,714) of th¢ *kn)ve exwJittw¢ attributsbk to UTtrethc*d fimds and £Nil (2￿20- £Nil) to restricted fimds. 6 AD•lysis ofgov¢rn•nct *ttd support tosts Governanee costs UTrre5tricted f￿ndS Totsl 2021 Tot#1 2020 Ge*ernl Indtpend¢nt examiner fees Examination of the fiDancial stattsne L¢gal fees 600 313 450 450 1.050 1.050 913 P4¢ 12 Pan-Asia Colluuunity Housitig Notes to the FiDan¢i*l Statements for the Year Ended 31 M*reb 2021 7 Net Ineominglo￿Igo1Dg reswrces Net in￿min￿(oUtgoing} r¢soLr¢es for the year incI￿le. 2021 2020 Pepreciation of fixed assets 335 336 8 TrySt¢es.re￿wther*tKj￿ and expenses C T Bourne £6.000 (2020.. £6.IW) of ¢xpenxs weT¢ T¢itnbuT5eil to C T Bourne dUrll￿ the year for Tent of offirx pr¢mis¢5. No trustees. nor any persons connected with then4 hav¢ re¢¢iv¢d w Temuneration from the charity during th¢ No tNstees have received any otheri￿¢fits from the chanty during the year. The amouni expense$ w4iv¢d by the In￿tr£s d￿￿]8 the year totalled £24.750 (2m. £24.fth). 9 Indep¢nden¢ txaminees r¢mup¢rn¢io 2021 202(1 ExaTlliMtiort of the fittancial ststerllents 6L 10 TaxatioD The clwity is a regist¢Trd tharity and is theffefthE exempt fmm tsxation. 11 TaDgiblt rued assets Furtsiture and equipment Total Cost Ai l April 2020 At 31 March 2021 5,271 5.271 5.271 5,271 DepreeiatiOD At l April 2020 Charge for the y¢ 4,936 335 4.936 335 At 31 March 2021 5271 5271 Net book v¥lue At 31 March 2021 At 31 Maffh 2020 335 335 Page 13 Pan-knia Community Housing Notes to the FiDaDcial StatemeDts for the Ye*r Ended 31 March 2021 12 Credltors." fallmg du¢ within one year 21)20 ￿￿er loans A¢cnJals 340 280 3.341 Other creditors refer to prior year 5etiing up Costs will be discbuged through private donations and fuhw¢ tradujg ￿tivIti¢5. No graDt-maktng funding will uwj for this puw. These li8bilities in¢er¢51-fr¢e and in the event of the cbarkty windiDg up are srfur¢d by a guarantw. 3,281 13 F4nds IneomiDt Resources expended laDee 8Jt 31 MArcb 2021 April 2020 UDr¢stri¢t¢d fuDds GeneTal 33,198 .319 Bfthftee *t I April 2019 B#lanee *t 31 M¥rch 2020 resowrees expended UDrestrlcled fuDds General 32.483 (32.939 (2,463) P¥ge 14 Pan-Asia Community Housing Notes to the Fin2DciAI Ststements for the Ye¥dr Ended 31 Mareh 2021 14 A Tr*tysi$ of net wets betwee* fllnds Unrestrleted ftA Trds Gth¢r•l Totsl fwnds Current assets Current liabilities 1,022 3.341 3.341 Totsl net assets (2J19 2.319 IS Am•lyJis of Det fpndy At 31 M¥r£h 2021 At l April 2020 C•5b Ilow Casb at bank aDd in bartd 483 539 1.022 Net delx 483 539 1.022 Page is