ZINTHIYA GANESHPANCHAN TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
zinthlya
ane5hpanchan
Trust

Charity Number: 1137350
ZINTHIYA GANESHPANCHAN TRUST CONTENTS
Reference and administrative details of the charity
Pg03
Trustees, report
Pg04
Independent examiner's report
Pg11
ststement of financial activities
Pg13
Balan￿ sheet
Pg14
Notes to the financial statements
Pg15

ZINTHIYA GANESHPANCHAN TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS
TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31ST MARCH 2024
Trustees
Ms Lorraine Mirham
Mr Phill Nassau
Ms Sally Smith
Mr Declan Kiely
Ms Hemmisha Tanna
Mr John Cooper
Charity registered
Number
1137350
Principle office
12 Bishop Street
Leicester
LE16AF
Chief executive
Zinthiya Ganeshpanchan
Independent examiner Bhavesh Shah FCCA
BGS Accounting Ltd
75 Exploration Drive
Leicester
LE4 5NU

ZINTHIYA GANESHPANCHAN TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31st MARCH 2024
Reflection from the Chair of the Board of Trustees
During the year under review, our charity continued to support disadvantaged women
and families in Leicester and Leicestershire to be free from abuse and poverty.
We also focused on building our internal capacity and partnerships to be able to
respond to the increased demand on the Servi￿5.
Additionally. we invested in diversifying our income generation streams so that we will
be in a stronger position to bid for commissioned seniices. generate revenue through
hiring our meeting spaces as well as securing new corporate partnerships.
We could have not done this without the generous support of our funders, individual
supporters and local businesses to whom we are extremely grateful for. We also want
to thank our volunteers and staff for their dedication during the year that made it
possible for us to continue to provide support to some of the most vulnerable people.
On behalf of the Board of Trustees, I would like to take this opportunity to thank
everyone, who has worked with us in the past year.
Lorraine Mirham
Chair of Trustees

ZINTHIYA GANESHPANCHAN TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31st MARCH 2024
The Trustees present their annual report together with the financial ststements of
Zinthiya Ganeshpanchan Trust (the charity) for the year ended 31st March 2024. The
Trustees confirm that the annual report and financial statements of the charity comply
with the current statutory requirements, the requirements of the Charity's governing
document. and the provision of the Statements of Recommended Practice (SORP),
applicable in the UK and Republic of Ireland -FRS102
Summary
It is our pleasure to report on a suc￿Ssful but challenging year for the Trust. To
respond to these challenges. during the year we continued to build the capacity of our
staff and volunteers by providing them with a range of opportunities to develop their
skills through intemal and extemal training, supervision as well investing in coaching
for some of our senior staff with the aim of sUc￿Ssion planning.
We also invested in building a ftjndraising team so that we can continue to work
towards creating new partnerships through engaging with our local community
including the business community. These relationships have been extremely valuable
to our fundraising efforts and we aim to continue with these activities during the coming
year.
Our Vision
The vision of our charity is to create a society where people can be free from abuse
and poverty and its mission is to:
To support people to live without the fear of Violen￿ and abuse.
To provide practical support to reduce poverty and isolation among vulnerable
people.
To help people transform their lives through education. skills development and
employment.
To support people to achieve their aspirations and lead fuFfilling lives.
We worked to achieve our objectives by providing a holistic Servi￿ including"
One to one support to women fleeing all forms of abuse"
Breaking the cycle of poverty by supporting people to manage their finan￿5
through improved budgeting skills, maximising income, dealing with debt and
preventing them falling into debt.
Preventing illness associated with cold homes by provide energy advice and
practical support to improve homes enabling people to keep their homes
wami.

Improve employability: Upskill people by providing training, work placements
and volunteering opportunities that will lead to sustainable employment.
Increase wellbeing, attendance and reduce bullying at school by provide
school uniformslshoes for children from families facing financial crisis.
Our primary beneficiaries were those suffering from multiple and complex needs and
those who have never or struggle to access mainstream support services. These
include but not limited to women fleeing violence, people who are homeless or
vulnerably housed, ex-offenders. care leavers, individuals suffering from food and
fuel poverty, individuals with a physical or mental disability, asylum seekers or with
no recourse to public funding. those that are isolated and the long term unemployed.
Our values
rAe HePILY o* TètÉ ZI￿rNixA T￿usT
C*J)
Our impact
Over the year we supported 2079 direct beneficiaries through the various project we
undertook out of which 1561 were female, 529 male and 13 self-identifying as non-
binary.
The following is a case study of a beneficiary who received a wrap round support
from the Trust during the year.

Betsy's Story
Betsy had been street homeless in London for several years before retuming to
Leicester to be with her family. However, the relationship with the family broke down
due to Betsy's drug addiction and mental health condition. Thereafter she found
herself homeless and in a physically abusive relationship with a man who solicited
women for money. She was referred over to multiple agencies by the police after an
incident that led her to being admitted to hospital due to the severity of her injuries. It
is then that Betsy was referred to the Zinthiya Trust by her social worker.
Betsy had received support from her drug worker to become and stay clean from using
drugs. With the support of the Zinthiya Trust and her social worker, she also managed
to secure a council property and was looking for a new start. As Betsy had been
homeless before she literally had nothing and needed essential items for her new
home as well as for herself.
Our case workers worked with Betsy to make an application to BGET and Smallwood
Trust for white goods. We also helped her with setting up her utility accounts whilst
looking at where we could possibly reduce them. We continue to work with Betsy
providing ongoing support to help her with budgeting and energy saving measures. In
addition we referred her to our domestic abuse case workers for ongoing emotional
support. As a result Betsy is now living in her home free from abuse but also free from
drugs and alcohol.
Comments from Bets
.1 am so grateful to The Zinthiya Trust. I was called the same day the referral was sent
over and was treated with dignity and respect and it is very much appreciated. l am
now looking fO￿ard to starting my new life in my new home and my mental health has
improved massively. So thank you to all involved."

Investment policy and performance
The Charity's policy is to only hold cash on deposit with major clearing banks.
Financial review and reserves policy
Income for the 12 months to 31 March 2024 was £748,855, an 11.15 % increase over
the previous year (2023: £673,726). Most of this was grant income of £489,941 (2023:
£552.144), which funded specific activities. The bulk of the remaining income was from
the operation of the Chapel Café. other trading activities, and public donations.
The Charity managed to register a surplus of £23,157 to 31 March 2024 (2023:
£20,968). The total level of activity of the Charity increased significantly, especially for
the emergency food provision, school uniforms project, sanitary pad project, and
provision of emergency accommodation for women whose lives were at risk due to
facing violence and had no recourse to public funding. As of 31 March 2024, closing
reserves were in surplus by £374,209 (2023: £351,052).
Charity reserves policy
The Charity Trustees have set their reserve policy for six months, operating costs.
Trustees feel they need to set this reserves target, which represent the funds that
should be set to one side in case of unforeseen costs or interruptions to funding. This
would improve financial resilience to provide greater security for beneficiaries. With
this in mind the Charity is actively seeking to source unrestricted funding and have
invested their time and money to build strong relationship with the local business
community.
Going Concern
The Trustees have made an assessment of the Charity's ability to continue as a going
concern and have positively reassessed the validity of this assumption when preparing
the accounts. In making this assessment, the Trustees have taken into account all
available information about the future for at least, but not limited to, 12 months from
the date the accounts are approved. At the time of approval of these accounts, the
financial state of the Charity was deemed a going concern due the multi-year funding
secured since the balance sheet date as well as the strategy in place to attract
unrestricted funding by working with individuals and businesses.
Board of Trustees
The trust is governed by a Board of Trustees who formally meet quarterly. The
Trustees during the year were as follows:
Ms Lorraine Mirham
Mr Phill Nassau
Ms Sally Smith
Mr Declan Kiely
Ms Hemmisha Tanna
Mr John Cooper

Structure, governance, management and recruitment to the board of trustees
The Charity is an unincorporated charity registered under a declaration of trust dated
8th September 2009. The trust is registered with the Charity Commission under the
charity number 1137350.
The Board of Trustees is responsible for the governance of the trust and for ensuring
the Charity pursues the objects for which it was founded. Trustees are appointed
under the terms of the Charity's Declaration of Trust. At present, there are no specific
policies regarding minimum or maximum length of tenure for Trustees.
The Trustees delegate the day-to-day management of activities, staff. and volunteers
to the Chief Executive, Zinthiya Ganeshpanchan. Mrs. Ganeshpanchan reports to the
Trustee board quarterly via attendance at board meetings and regular e-mails
Volunteers
Over 15 volunteers supported our work in the year in the food project, Chapel Café.
and office. The volunteers ranged from 16 years to 76 years and came from all walks
of life. We train. support. and celebrate the amazing work our volunteers do, knowing
that their contribution is essential to fulfilling our mission. Their willingness to devote
their time and expertise for free is incredible. we could have not achieved what we
have done over the year without our volunteers.
Public Benefit
The Trustees are aware of the Charity Commission's general guidan￿ on public
benefit and have considered it when reviewing their aims and objectives and planning
future activities. In line with the charity accounts disclosure requirements the Trustees
Confirm that they have paid due regard to guidance issued by the Charity Commission
in deciding what activities the charity should undertake.
Risk Management
The Trustees are responsible for the management of the risks faced by the Trust, as
they provide controls that provide reasonable although not absolute assurance against
material misstatement, loss or exposure to risk. Risk reviews are undertaken regularly
to ensure internal risks are minimised through the implementation of policy and
procedure and external risks are accounted for in the setting of strategy.
Funds held as custodian
No such funds are held

Trustees, responsibility statement
The Trustees are responsible for preparing the Trustees, report and the financial
statements in accordance with applicable law and United Kingdom Standards (United
Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare
financial statements for each financial year which give a true and fair view of the state
of affairs of the Charity and of the incoming resources and application of reSoUr￿S of
the Charity for that period. In preparing these finical statements, the Trustees are
required to:
Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP.,
Make adjustments and accounting estimates that are reasonable and prudent
Prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient
to show and explain the Charity's transactions and disclose with reasonable accuracy
at time the financial position of the Charity and enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charity (Accounts and reports)
Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the charity and hen￿ for taking responsible steps for the
prevention and detection of fraud and other irregularities.
report was approved by the Trustees on and signed on their behalf by:
LO￿aIne Mirham
Chair of Trustees
io

FOR THE YEAR ENDING 31 MARCH 2024
Independent examlner's report to the Trustees of Zinthlya Ganeshpanchan
Trust
l ￿port to the Trustees on my examination of the financial statements of the Zinthiya
Ganeshpanchan Trust for the year ended 31 March 2024, which are set out on pages
13-20.
Respective responslbllltles of trustees and examiner
The Charity's Trustees are responsible for the preparation of the accounts. The
Charity's Trustees consider that an audit is not required for this year under section 144
of the Charities Act 2011 (the Charities Act) and that an independent examination is
needed.
It is rny responsibility to=
examine the accounts under section 145 of the Charities Act.
to follow the procedures laid down in the general Directions given by the Charity
Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.
Basis of independent examiners report
My examination was carried out in accordance with general Directions glven by the
Charity Commission. An examination includes a review ofthe accounting records kept
by the Charity and a comparison of the accounts presented with those records. It also
includes consideration of any unusual items or disclosures in the accounts and
seeking explanations from the Trustees con￿mIng any such matters. The
procedures undertaken do not provide all the evidence that would be required in an
audit, and consequently no opinion is given as to whether the accounts present a Irue
and fairf view and the report is limited to those matters set out in the statement below.
Independent examiners qualrfied statsment
I have competed my examination. I confirm that no material matters, except those
referred to in the previous paragraph, have come to my attention in connection with
the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Charity as required by
section 130 of the Act: or
the financial ststements do not accord with those records or:
the financial ststements do not comply with the applicable requirements
concerning the form and context off accounts set out in the Charities
(Accounts and reports) Regulation 2008 other than any requirement that the
accounts give a "true and fair view whlch is not a matter considered as a
part of an independent examination.

I have no concems and have come across no other matters In u)nnection wlth the
examlnatlon to whlch attention should be drawn In th18 re￿1 to enable a proper
understanding of the ffiTrancial statements to be reached.
Date:
O¥1 ILI lo%Ltr
Bhavesh Shah FCCA
BGS A£counting Ltd
75 EW(wation Drive
Leicester
LE4 5NU
12

Zinthi
a Ganesh
anchan Trust
ststement of financial activities
For the
ear ended 31 March 2024
Unrestrieted Restrieted
funds
funds
2024
2024
Totsl
Funds
2024
Total
funds
2023
Note
INCOME
Donations and grants
Charitable
activities
28,106
167.514
489.941
63294
518.047
230,808
578,375
95.351
195,620
553,235
748.855
673.726
EXPENDITURE
Charitable
artivities
175,172
550,526
725,698
652,758
TOTAL EXPENDITURE
175,172
550,526
725.698
753.746
NET INCOMEI(EXPENDITURE)
20,448
2.709
23,157
20,968
Transfer between ￿ndS
NET MOVEMENT IN FUNDS
20,448
2,709
23,157
20,968
RECONCILIATION OF FUNDS
102,056
248,996
351,052
330,084
TOTAL FUNDS CARRIED FORWARD
122,504
251,705
374209
351,052
The notes on pages 15 to 20 fomi part of these financial statements.
13

Zinthi
a Ganesh aneh2n Trust
Balance Sheet
As at 31 March 2024
Total
2024
Tolal
2023
Note
FIXED ASSETS
Tangible assets
24,259
23.964
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
2.500
98,047
268,072
368,619
2.500
53,7(M)
293,366
349,565
Creditors: amounts falling due within one year
18,668
22,477
NET CURR£wf ASSETS/(LIABILITIES)
349,951
327,089
TOTAL ASSETS LESS CURRENT LIABILITIES
374,209
351,052
Creditors: amounts falling due after more than one year
TOTAL NET ASSETSI(LIABILITIES)
374,209
351,052
CHARITY FUNDS
Restricted funds
Unrestricted fimds
122,504
251,705
248,997
102,055
TOTAL CHARITY FUNDS
374,209
351,052
The financial statements were approved by the Tnjstees on 28 November 2024 and signed
on their behalf, by: Lo￿27n Mirham
The notes on pages 15 to 20 forn) part of these financial statements.
14

Zinthi
a Ganesh
anchan Trust
Notes to the statement of financial aelivities
For the
ear ended 31 March 2024
Income from donations and grants
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Totsl
funds
2023
Donations
Grants
28,106
28.106
489.941
518.047
26,232
552,144
578.376
489,941
489,941
28.106
2 Income from Charitable activities
Unrestricted Rostricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Cafe income
Oth¢r incotne
40,311
127204
167.514
40.311
190,498
230,808
30,243
65,108
95,351
63,294
63,294
3 Expenditure
Unrestricted Restrieted
funds
funds
2024
2024
Totsl
fund5
2024
Total
funds
2023
Direct delivery cost (CRF)
Chapel Café direct expenses
Wages, salaries and social security costs
Pension contribution
Siaff training. welfare and HR costs
Travel and subsistence
Premises costs
Emergency accommodation
Printin& postage, stationery and telephone
Bank charges
IDsur2nce
Repairs and maintenance
Advertising and PR
Sundry expenses
Legal & professional fees
Depreciation
Accountancy fees
IT costs
Project monitoring and evaluation
Fundraising cost
Food bank cost
Hardship fund
38,673
38.673
24,183
340,309
5,934
15,794
10,400
38,495
117,224
18,897
285
4,073
6245
30,062
938
6,723
6.893
900
2,652
2.783
20,506
4,836
28,893
725,698
89,111
23,455
327,937
5,510
14,387
13.445
36,294
18J83
11,939
239
4.876
6.774
25,591
1,490
7,118
7,988
900
3237
2,000
4,160
9.966
37,956
652,758
24,183
80,847
5,934
7,585
4,457
6,157
259,463
8209
5,943
32,338
117224
10,533
8,364
285
4.073
2.995
1.771
938
3250
28,291
1,723
6,893
900
121
5.000
2,530
2,783
9,336
11,170
4,836
1,939
175.172
26,954
550,526
15

Zinthi
a Ganesh
anchan Trust
Notes to the Balance Sheet
For the vear ended 31 Mdreb 2024
4 Tangible r￿ed assets
OITice E
Totsl
Cost
At l April 23
Additions
3,184
51.078
7.187
58.265
54.262
7,187
61,449
3,184
Depreciation
At l April 23
Charge for the year (250/0 RBM)
1.321
466
1,787
28,977
6.427
35.404
30,298
6.893
37,191
Net B￿k Valve
At31 Mar24
1.397
22,861
24.259
At31 Mar23
1.863
22.101
23,964
5 Sto¢lLS
2024
2023
Café stock
2,500
2,500
6 Debtors
2024
2023
Trade debtors
Other debtors
Prepayments & Accrued income
38.634
2,590
56,823
98.047
3,332
2,640
47.728
53,700
7 Creditors: amounts falling due within one
year
2024
2023
Trade creditors
Other creditors
Other taxation and social security
Accruals and defe￿¢d income
5,541
210
1.237
11,680
18,668
11244
1,077
10.156
22,477
16

8 Statement of funds
Balance at
In¢ome
Expenditure
Bglance at
31 Mar 2024
l April
2023
General fimd
Chapel Cafe
SSE
National Grid
Community Renewal Fund (CRF)
National Lottery
British Gas Energy Trust
Henry Smith
Smallwood Trust
Police & Crime Commissioner
UKSPF
Lloyds
Safelives
Nationwide
99,276
2,780
155,309
40JII
25,000
9,870
(150,989)
(24,183)
(5.000)
(9,870)
(39,349)
(129,144)
(166,637)
(24,250)
(60,934)
(3,119)
(44,470)
(25,000)
(5,000)
(37,754)
(725,698)
103,597
18,908
20,000
49.701
91,518
5,327
24,250
10,352
128,113
7,879
24,250
24,997
20267
5,400
165,739
169,189
24.250
85,931
23,386
49,870
25,000
5,000
48,200
351,052
10,446
374209
748,855
9. Related party relationships and transactions
During the year. the Charity purchased specialist emergency refuge management
seniices to house women and girls fleeing abuse with no recourse to public
funding amounting to £111,654 from Pink Pebbles Homes Ltd. Pink Pebbles was
contracted during the Covid-19 pandemic to provide an all-inclusive Multiple
Occupancy Housing service at short noti￿ for a competitive price without the
burden of any financial investment on the part of the Trust. Over the year they
provided accommodation for women and children. This has enabled the Trust to
become a supplier to the Leicester City Council for housing provisions for which
the Trust recovered £ 86,546 in the year. In addition, the Trust also received
funding of £36,100 for emergency accommodation from the National Lottery and
the Nationwide Community Grant to support women and girls with no recourse to
public funding.
In the year under review, the Trust continued to trade with Tomorrowtogether Ltd,
the social enterprise, which is set up to support people in long-term
unemployment. During the year, a sum of £312 was paid to Tomorrowtogether Ltd
for the provision of waste disposal and cleaning.
17

1.Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fairf view and have
departed from the Charities (Accounts and Reports) Regulations 2008 only to the
extent required to provide a 'true and fairf view. This departure has involved following
the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting
and Reporting by Charities.. Statement of Recommended Practice effective from 1
April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with
items recognised at cost or transaction value unless otherwise stated in the relevant
notes to these accounts. The financial statements have been prepared in accordance
with the Statement of Recommended Practice: Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and
Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland (FRS 102) and Charities Act 2011.
Zinthiya Ganeshpanchan Trust constitutes a public benefit entity as defined by FRS
102.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of
the Trustees in furtherance of the general objectives of the Charity and which have
not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions
imposed by donors or which have been raised by the Charity for particular purposes.
The costs of raising and administering such funds are charged against the specific
fund. The aim and use of each restricted fund are set out in the notes to the financial
statements.
1.3 Income
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 income receivable can be
measured reliably.
Donated services or facilities are recognised when the Charity has control over the
item. any conditions associated with the donated item have been met. the re￿Ipt of
economic benefit from the use of the Charity of the item is probable and that economic
benefit can be measured reliably. In accordance with the Charities SORP (FRS 102),
the general volunteer time, of the friends of the Trust, is not recognised and refer to
the Trustees, report for more information about their contribution.
18

On receipt, donated professional services and donated facilities are recognised on the
basis of the value of the gift to the Charity which is the amount the Charity would have
been willing to pay to obtain services or facilities of equivalent economic benefit on the
open market; a corresponding amount is then recognised in expenditure in the period
of re￿[Pt.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer
economic benefit to a third party. It is probable that a transfer of economic benefit will
be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total
of direct costs and shared costs. including support costs involved in undertaking each
activity. Direct costs attribute to a single activity are allocated directly to that activity-
Shared costs which contribute to more than one activity and support costs which are
not attributed to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of
time spent and depreciation charges allocated on the portion of the asset's used.
Support costs are those costs incurred directly in support of expenditure on the objects
of the charity and include project management carried out at headquarters.
Charitable activities and Govemance costs are costs incurred on the Charities
educational operations, including support costs and costs relating to the goveman
of the charity apportioned to charitable activities.
1.5 Tangible fixed assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in
circumstances indicate that the carrying value of any fixed asset may not be
recoverable.
Shortfalls between the carrying value of fixed assets and their
recoverable amounts are recognised as impairments. Impainnent losses are
recognised in the statement of financial activities.
Tangible fixed assets are caThied at cost. net of depreciation, and any provision for
impairment. Depreciation is provided at rates calculated to write off the cost of fixed
assets. less their estimated residual value, over their expected useful lives on the
following bases:
Fumiture and fittings
Office equipment
25% RBM
19

1.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be
measured reliable by the charity: this is normally upon notification of the interest paid
or payable by the Bank.
2 Stocks
Stocks are valued at the lower cost and net realisable value after making due
allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an
appropriate proportion of fixed and variable overheads.
2.1 Debtors
Trade and other debtors are recognised at the settlement amount after any trade
discount offered. Prepayments are valued at the amount prepaid net of any trade
discounts due.
2.2Cash at bank and in hand
Cash at bank and in hand included cash and short term highly liquid investments with
a short maturity of three months or less from the date of acquisition or opening of the
deposit or similar account.
2.3 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required
in settlement and the amount of the settlement can be estimated reliably. Liabilities
are recognised at the amount that the Charity anticipates it will pay to settle the debt
or the amount it has received as advanced payments for the goods or services it must
provide. Provisions are measured at the best estimate of the amounts required to
settle the obligation. Where the effect of the time value of money is material, the
provision is based on the present value of those amounts, discounted at the pre-tax
discount rate that reflects the risk specific to the liability. The unwinding of the discount
is recognised within interest payable and similar charges.
3 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as
basic financial instruments. Basic financial instruments are initially recognised at
transaction value and subsequently measured at their settlement value ex￿pt for
bank loans which are subsequently measured at amortise cost using the effective
interest method.
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