2024-03-31-accounts - Phan Foundation

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Registered charity number 1154658

Phan Foundation CIO

Trustees' Report and Financial Statements

For the year ended 31 March 2024

Phan Foundation CIO Report and Financial Statements Contents

	Page
Report of the trustees	1-4
Legal and administrative information	5
Independent examiner's report	6
Statement of financial activities	7
Balance sheet	8
Notes forming part of the financial statements	9-14

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

The Phan Foundation was founded by the four children of Padoh Mahn Sha, the General Secretary of the Karen National Union, and Nant Kyin Shwe, in their memory.

The Phan Foundation is a Charitable Incorporation Organisation, registered charity number 1154658. Our governing document is the constitution of the Phan Foundation.

Charitable objects

TO PREVENT OR RELIEVE POVERTY IN BURMA.
TO PREVENT OR RELIEVE POVERTY (INCLUDING THE FINANCIAL NEEDS) OF REFUGEES, ASYLUM SEEKERS, MIGRANT WORKERS AND THEIR DEPENDENTS FROM BURMA.
TO ADVANCE THE EDUCATION OF PEOPLE OF ALL AGES FROM BURMA.
TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE SUBJECTS OF ETHNIC KAREN CULTURE, HISTORY AND TRADITIONS.
TO PROMOTE HUMAN RIGHTS (AS SET OUT IN THE UNIVERSAL DECLARATION OF HUMAN RIGHTS AND SUBSEQUENT UNITED NATIONS CONVENTIONS AND DECLARATIONS) AND TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE SUBJECT OF HUMAN RIGHTS IN BURMA AND SUCH OTHER PARTS OF THE WORLD AS THE TRUSTEES SEE FIT.

Grant-making approach and policy

The founders of the Phan Foundation, being from Karen State Burma, growing up in a conflict zone and having been internally displaced and refugees, have a particular experience, knowledge and expertise in both the needs of the people, and the organisations which are providing effective assistance to them.

Phan Foundation aims to support civil society organisations, specialising in small high impact grants to organisations and areas which struggle to find funding from other donors.

We provide long term commitments to some projects so they do not have to worry about funding year to year and can instead focus on the work they are doing. We also aim to be responsive to events to provide assistance at times of emergency.

At the same time as rigorously ensuring funds are spent as allocated, it is an important and integral principle of the Phan Foundation that we do not place unreasonable and unnecessary reporting burdens on recipients of our grants.

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

Our grants to partners

The civil society organisations we support are facing immense challenges with a dramatic increase in conflict, human rights violations, repression, and mass displacement since the 2021 military coup. During this reporting period the number of

Internally displaced people increased from the low thousands to hundreds of thousands of people in Kawthoolei (Karen State) alone.

The Phan Foundation has sought to continue to provide stable long-term grants to our partners, to assist them to plan ahead with assured funding, while at the same time responding to the urgent humanitarian crisis. Our main grants have been to civil society organisations assisting internally displaced people, and for education, we continue to support projects for protection and promotion of Karen culture, access to medical care, and protecting human rights defenders.

We also continued with our high profile Padoh Mahn Sha Young Leader Award, recognising outstanding young Karen leaders who work in areas related to our charitable objectives.

We are grateful to the donors who enable us to carry out our life-saving and lifetransforming work.

Grant areas

Phan Foundation is proud to have been able to support the following outstanding Karen organisations in their work proving humanitarian assistance, education and heath services, and promoting and preserving Karen culture.

Karen Peace Support Network

Phan Foundation provided funding to KPSN to provide a wide range of support to internally displaced people fleeing attacks by the Burmese military, including support for shelter, food, medical care, transport, training of community workers, and safe houses for people evading arrest by the Burmese military.

Karen Student Network Group

Phan Foundation provided funding for KSNG to prove emergency clean water to communities in Karen State.

Karen Education and Cultural Department

Phan Foundation supported a wide range of activities carried out by KECD, including the printing of education materials, primary and higher education school programmes, Scholarships, and equipment for the running of KECD programmes.

Karen Youth Organisation

Phan Foundation contributed towards the expenses of holding a summer camp for Karen youth, helping to train the next generation of civil society leaders working to help their communities.

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

Pwo Karen literature and language project

Phan Foundation funded a cultural project to protect and promote Pwo Karen language, literature, details must remain anonymous for their security.

Karen Department of Health and Welfare

Phan Foundation provided funding for medical equipment for the provision of healthcare in Karen State and neighbouring areas.

Our Charitable Objectives

The grants made in this financial year all further the charitable objectives of the Phan Foundation and are undertaken for the public benefit of these objectives. We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.

Financial review

During the year the Charity’s income totalled £101,218 (2023: £58,008) and expenditure was £94,457 (2023: £89,972). The charity’s funds stood at £9,498 at 31 March 2024, (2023 £2,737) including £946 (2023: £3,406) of restricted funds and £8,552 (2023: (£669) of unrestricted funds.

Investment policy

The charity does not currently hold sufficient funds to warrant investment. However, the charity banks with The Co-op, which has a sound ethical banking policy.

Reserves policy

The charity holds a small cash balance and is yet to reach an operational level where it has been possible to consider establishing a financial reserve. The Trustees will continue to monitor the charity’s finances and will establish a reserves policy when funds allow.

Statement of Trustees’ responsibilities

Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently,
Observe the methods and principles in the Charities SORP,
Make judgments and estimates that are reasonable and prudent,
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements, and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board of trustees on November 2024 and signed 24 on its behalf.

BD

Stephen Bates

Trustee

Phan Foundation CIO Legal and Administrative Information

Charity name:

Charity registration number:

Registered office and operational address:

Phan Foundation CIO

1154658 110 The Bon Marche Centre 241-251 Ferndale Road London SW9 8BJ

Trustees on public record Stephen Bates

Independent examiner

Frank McDowell FJM Accountancy Limited 23 Shackleton Court 2 Maritime Quay London E14 3QF

Bankers

The Co-operative Bank plc Head Office PO Box 101 1 Balloon Street Manchester M60 4EP

Phan Foundation CIO Independent Examiner's report Independent examinerfs report to the Trustees of Phan Foundation CIO I report to the charity trustees on my examination of the accounts of the CIO for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acr). I report in respect of my examination of the CIO'S accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145{5}(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect 1. accounting records were not kept as required by section 130 of the Ac( or 2. the accounts do not accord with those records. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the aoUnts to be reached. Frank James McDowell FMAAT FJM Accountancy Limited 23 Shackleton Court 2 Maritime Quay London E14 3QF Date.. 24 November 2024

Phan Foundation CIO Statement of Financial Activities for the year ended 31 March 2024

2024
Restricted Unrestricted
Total
Notes
£
£
£
Income from:
Grants and donations
2
39,943
61,275
101,218
Total income
39,943
61,275
101,218
Expenditure on:
Raising funds
-
124
124
Charitable activities
3,4
49,511
44,822
94,333
Total expenditure
49,511
44,946
94,457
Net income/(expenditure) for the year
6
(9,568)
16,329
6,761
Transfers between funds
11
7,108
(7,108)
-
Net movement in funds
(2,460)
9,221
6,761
Reconciliation of funds:
Total funds brought forward
3,406
(669)
2,737
Total funds carried forward
11
946
8,552
9,498

2023
Restricted Unrestricted
Total
£
£
£
48,529
9,479
58,008
48,529
9,479
58,008
-
436
436
45,753
43,783
89,536
45,753
44,219
89,972
2,776
(34,740)
(31,964)
-
-
-
2,776
(34,740)
(31,964)
630
34,071
34,701
3,406
(669)
2,737

The statement of financial activities includes all gains or losses for the year. All income and expenditure derives from continuing activities.

Phan Foundation CIO Balance Sheet as at 31 March 2024

	Notes		2024		2023
Fixed assets		£	£	£	£
Tangible assets	8		642		1,070
Current assets
Cash at bank and in hand		9,216		2,387
Creditors: amounts falling
due within one year	9	360		720
Net current assets			8,856		1,667
Net current assets and net assets	10		9,498		2,737
The funds of the charity:	11
Restricted income funds			946		3,406
Unrestricted funds			8,552		(669)
Total funds			9,498		2,737

The financial statements were approved by the trustees on 24 November 2024 and signed on their behalf by:

Stephen Bates

Trustee

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of preparation and assessment of going concern

The accounts (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 United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Funds structure and accounting

Restricted grants and donations are available for the charity's use only in accordance with the terms under which, and for the purposes which, the funds were donated to the charity.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Income recognition

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Grants and donations are included in full in the statement of financial activities when receivable.

Donated services and facilities

In accordance with the Charities SORP (FRS 102), the general volunteer time of the charity is not recognised. The trustees’ annual report provides more information about the contribution of volunteers.

Expenditure recognition

Expenditure is recognised on an accrual basis as a liability is incurred. Where expenditure includes VAT which can only be partially recovered, the irrecoverable VAT is reported as part of the expenditure to which it relates.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity.

Costs of generating funds comprise the costs associated with attracting voluntary income and fundraising trading costs.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

1 Accounting policies

Expenditure recognition (continued)

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor area or estimated usage, as set out in Notes 3 and 4.

2 Grants and donations receivable Advance Myanmar Billericay Baptist Church First Burmese Baptist Church of San Francisco Karen Community Association - London Karen Community Association - UK Karen National Union UK Micromondo Rockwell Automation Unitarian Universalist Service Committee Anonymity requested by donors Other grants and donations	2024 Restricted Unrestricted Total £ £ £ - 50,000 50,000 - - - 11,739 - 11,739 600 - 600 2,000 - 2,000 450 - 450 946 - 946 - - - 21,576 - 21,576 1,415 2,000 3,415 1,217 9,275 10,492 39,943 61,275 101,218	2023 Total £ - 500 11,300 - 7,508 - 1,363 3,974 17,045 6,116 10,202 58,008

3 Analysis of expenditure on charitable activities

Grants paid (Note 4) Equipment purchased for use in Myanmar Publicity Travel IT costs Bank charges Governance costs - independent examination Depreciation	Grant- making Fund- raising Governance Total 2024 £ £ £ £ 90,551 - - 90,551 1,043 - - 1,043 1,361 - - 1,361 - - - - 80 - 80 510 124 - 634 - - 360 360 428 - - 428 93,973 124 360 94,457	Total 2023 £ 88,029 - 237 290 144 698 360 214 89,972

Expenditure on charitable activities was £93,973 (2023: £89,536) of which £44,462 (2023: £43,783) was unrestricted and £49,511 (2023: £45,753) was restricted.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

4 Grants paid Dawei and Myiek Mission Karen Department Of Health And Welfare Karen Education and Culture Department Karen Peace Support Network Karen Student Network Group Karen Women's Organisation Karen Youth Organisation Naw Hay Thi Dew Project Safe Water for Every Children – Myanmar Taw Oo Ter Kwe Community-Based Organisation Thoo Mweh Khee Learning Centre Anonymity of organisations protected 5 Net income/(expenditure) for the year This is stated after charging: Independent examiner's fees	Restricted Unrestricted £ £ - - 2,849 - 2,119 18,817 18,617 2,968 - 1,399 - - - 4,672 - 3,178 - - 3,432 271 - 4,448 - - 21,451 6,330 48,468 42,083	2024 Total £ - 2,849 20,936 21,585 1,399 - 4,672 3,178 - 3,703 4,448 - 27,781 90,551 2024 £ 360	2023 Total £ 995 - 35,745 19,858 3,013 1,113 - - 3,446 - - 3,950 19,909 88,029 2023 £ 360

6 Related party transactions and trustees’ expenses and remuneration

The trustees all give their time and expertise freely without any form of remuneration or other benefit in cash or kind. No trustees claimed any expenses in the year or the preceding year.

Trustees made donations to the charity during the year totalling £180 (2023: £180).

7 Taxation

As a registered charity, Phan Foundation is exempt from tax on income and gains falling within Part 11 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

The charity is registered for Gift Aid with HM Revenue & Customs under reference number W56202.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

8 Tangible fixed assets

Tangible fixed assets
	IT
	equipment
	£
Cost
At 1 April 2023	1,284
Additions	-
At 31 March 2024	1,284
Depreciation At 1 April 2023 Charge for the year	214 428
At 31 March 2024	642
Net book value At 31 March 2024 At 31 March 2023	642 1,070

There were no capital commitments at 31 March 2024 (2023: Nil)

9 Creditors: amounts falling due within one year

Accrued expenses	2024 2023 £ £ 360 720
	360 720

10 Analysis of net assets between funds

Current year	Restricted Designated Unrestricted Total funds funds funds funds £ £ £ £
Tangible fixed assets	- 642 - 642
Net current assets	946 - 7,910 8,856
	946 642 7,910 9,498
Prior year
Tangible fixed assets	- 1,070 - 1,070
Net current assets	3,406 - (1,739) 1,667
	3,406 1,070 (1,739) 2,737

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

11
Movement in funds
Current year
Restricted funds:
Karen Education and Culture Department
Karen Children
Internally displaced people
Anonymity of organisation protected
Medical equipment
Total restricted funds
Unrestricted funds:
Designated fixed asset fund
General funds
Total funds
Prior year
Restricted funds:
Karen Education and Culture Department
Karen Women's Organisation
Internally displaced people
Anonymity of organisation protected
Thoo Mweh Khee Learning Centre
Total restricted funds
Unrestricted funds:
Designated fixed asset fund
General funds
Total funds
Restricted funds:

At 1st
Incoming
Outgoing
At 31st
April
resources
resources Transfers
March
£
£
£
£
£
2,119
-
(2,119)
-
-
-
946
-
-
946
1,287
16,372
(24,898)
7,239
-
-
21,575
(21,451)
(124)
-
-
1,050
(1,043)
(7)
-
3,406
39,943
(49,511)
7,108
946
1,070
-
-
(428)
642
(1,739)
61,275
(44,946)
(6,680)
7,910
(669)
61,275
(44,946)
(7,108)
8,552
2,737
101,218
(94,457)
-
9,498
611
6,729
(5,221)
-
2,119
19
-
-
(19)
-
-
20,781
(19,513)
19
1,287
-
17,045
(17,045)
-
-
-
3,974
(3,974)
-
-
630
48,529
(45,753)
-
3,406
-
-
-
1,070
1,070
34,071
9,479
(44,219)
(1,070)
(1,739)
34,071
9,479
(44,219)
-
(669)
34,701
58,008
(89,972)
-
2,737

Karen Education and Culture Department

We provided a grant to Karen Education and Culture Department for school materials, teachers’ subsidies, maintaining school buildings and other school related needs.

Karen Children

We are supporting boarding houses for Karen Children who are fleeing attacks by the Burmese military.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

11 Movement in funds (continued)

Restricted funds (continued):

Internally displaced people

We supported emergency assistance to Internally Displaced People in Karen State, Kawthoolei through Karen communitybased organisation along Thailand -Burma Border.

Anonymity of organisation protected (for their security)

We provided a grant for an organisation we cannot name for security reasons. The purpose of the grant is to build capacity through training and awareness (internal, external and online) for media, social, nationals, and organisation development.

Medical equipment

We provided medical equipment for people in conflict effect areas in Karen State, Kawthoolei.

Registered charity number 1154658

Phan Foundation CIO

Trustees' Report and Financial Statements

For the year ended 31 March 2024

Phan Foundation CIO Report and Financial Statements Contents

	Page
Report of the trustees	1-4
Legal and administrative information	5
Independent examiner's report	6
Statement of financial activities	7
Balance sheet	8
Notes forming part of the financial statements	9-14

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

The Phan Foundation was founded by the four children of Padoh Mahn Sha, the General Secretary of the Karen National Union, and Nant Kyin Shwe, in their memory.

The Phan Foundation is a Charitable Incorporation Organisation, registered charity number 1154658. Our governing document is the constitution of the Phan Foundation.

Charitable objects

TO PREVENT OR RELIEVE POVERTY IN BURMA.
TO PREVENT OR RELIEVE POVERTY (INCLUDING THE FINANCIAL NEEDS) OF REFUGEES, ASYLUM SEEKERS, MIGRANT WORKERS AND THEIR DEPENDENTS FROM BURMA.
TO ADVANCE THE EDUCATION OF PEOPLE OF ALL AGES FROM BURMA.
TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE SUBJECTS OF ETHNIC KAREN CULTURE, HISTORY AND TRADITIONS.
TO PROMOTE HUMAN RIGHTS (AS SET OUT IN THE UNIVERSAL DECLARATION OF HUMAN RIGHTS AND SUBSEQUENT UNITED NATIONS CONVENTIONS AND DECLARATIONS) AND TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE SUBJECT OF HUMAN RIGHTS IN BURMA AND SUCH OTHER PARTS OF THE WORLD AS THE TRUSTEES SEE FIT.

Grant-making approach and policy

Phan Foundation aims to support civil society organisations, specialising in small high impact grants to organisations and areas which struggle to find funding from other donors.

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

Our grants to partners

Internally displaced people increased from the low thousands to hundreds of thousands of people in Kawthoolei (Karen State) alone.

We also continued with our high profile Padoh Mahn Sha Young Leader Award, recognising outstanding young Karen leaders who work in areas related to our charitable objectives.

We are grateful to the donors who enable us to carry out our life-saving and lifetransforming work.

Grant areas

Karen Peace Support Network

Karen Student Network Group

Phan Foundation provided funding for KSNG to prove emergency clean water to communities in Karen State.

Karen Education and Cultural Department

Karen Youth Organisation

Phan Foundation contributed towards the expenses of holding a summer camp for Karen youth, helping to train the next generation of civil society leaders working to help their communities.

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

Pwo Karen literature and language project

Phan Foundation funded a cultural project to protect and promote Pwo Karen language, literature, details must remain anonymous for their security.

Karen Department of Health and Welfare

Phan Foundation provided funding for medical equipment for the provision of healthcare in Karen State and neighbouring areas.

Our Charitable Objectives

Financial review

Investment policy

The charity does not currently hold sufficient funds to warrant investment. However, the charity banks with The Co-op, which has a sound ethical banking policy.

Reserves policy

Statement of Trustees’ responsibilities

Select suitable accounting policies and then apply them consistently,
Observe the methods and principles in the Charities SORP,
Make judgments and estimates that are reasonable and prudent,
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements, and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.

Phan Foundation CIO Trustees’ Report Year ended 31 March 2024

This report was approved by the board of trustees on November 2024 and signed 24 on its behalf.

BD

Stephen Bates

Trustee

Phan Foundation CIO Legal and Administrative Information

Charity name:

Charity registration number:

Registered office and operational address:

Phan Foundation CIO

1154658 110 The Bon Marche Centre 241-251 Ferndale Road London SW9 8BJ

Trustees on public record Stephen Bates

Independent examiner

Frank McDowell FJM Accountancy Limited 23 Shackleton Court 2 Maritime Quay London E14 3QF

Bankers

The Co-operative Bank plc Head Office PO Box 101 1 Balloon Street Manchester M60 4EP

Phan Foundation CIO Statement of Financial Activities for the year ended 31 March 2024

The statement of financial activities includes all gains or losses for the year. All income and expenditure derives from continuing activities.

Phan Foundation CIO Balance Sheet as at 31 March 2024

	Notes		2024		2023
Fixed assets		£	£	£	£
Tangible assets	8		642		1,070
Current assets
Cash at bank and in hand		9,216		2,387
Creditors: amounts falling
due within one year	9	360		720
Net current assets			8,856		1,667
Net current assets and net assets	10		9,498		2,737
The funds of the charity:	11
Restricted income funds			946		3,406
Unrestricted funds			8,552		(669)
Total funds			9,498		2,737

The financial statements were approved by the trustees on 24 November 2024 and signed on their behalf by:

Stephen Bates

Trustee

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of preparation and assessment of going concern

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Funds structure and accounting

Restricted grants and donations are available for the charity's use only in accordance with the terms under which, and for the purposes which, the funds were donated to the charity.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Income recognition

Grants and donations are included in full in the statement of financial activities when receivable.

Donated services and facilities

Expenditure recognition

Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity.

Costs of generating funds comprise the costs associated with attracting voluntary income and fundraising trading costs.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

1 Accounting policies

Expenditure recognition (continued)

2 Grants and donations receivable Advance Myanmar Billericay Baptist Church First Burmese Baptist Church of San Francisco Karen Community Association - London Karen Community Association - UK Karen National Union UK Micromondo Rockwell Automation Unitarian Universalist Service Committee Anonymity requested by donors Other grants and donations	2024 Restricted Unrestricted Total £ £ £ - 50,000 50,000 - - - 11,739 - 11,739 600 - 600 2,000 - 2,000 450 - 450 946 - 946 - - - 21,576 - 21,576 1,415 2,000 3,415 1,217 9,275 10,492 39,943 61,275 101,218	2023 Total £ - 500 11,300 - 7,508 - 1,363 3,974 17,045 6,116 10,202 58,008

3 Analysis of expenditure on charitable activities

Grants paid (Note 4) Equipment purchased for use in Myanmar Publicity Travel IT costs Bank charges Governance costs - independent examination Depreciation	Grant- making Fund- raising Governance Total 2024 £ £ £ £ 90,551 - - 90,551 1,043 - - 1,043 1,361 - - 1,361 - - - - 80 - 80 510 124 - 634 - - 360 360 428 - - 428 93,973 124 360 94,457	Total 2023 £ 88,029 - 237 290 144 698 360 214 89,972

Expenditure on charitable activities was £93,973 (2023: £89,536) of which £44,462 (2023: £43,783) was unrestricted and £49,511 (2023: £45,753) was restricted.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

4 Grants paid Dawei and Myiek Mission Karen Department Of Health And Welfare Karen Education and Culture Department Karen Peace Support Network Karen Student Network Group Karen Women's Organisation Karen Youth Organisation Naw Hay Thi Dew Project Safe Water for Every Children – Myanmar Taw Oo Ter Kwe Community-Based Organisation Thoo Mweh Khee Learning Centre Anonymity of organisations protected 5 Net income/(expenditure) for the year This is stated after charging: Independent examiner's fees	Restricted Unrestricted £ £ - - 2,849 - 2,119 18,817 18,617 2,968 - 1,399 - - - 4,672 - 3,178 - - 3,432 271 - 4,448 - - 21,451 6,330 48,468 42,083	2024 Total £ - 2,849 20,936 21,585 1,399 - 4,672 3,178 - 3,703 4,448 - 27,781 90,551 2024 £ 360	2023 Total £ 995 - 35,745 19,858 3,013 1,113 - - 3,446 - - 3,950 19,909 88,029 2023 £ 360

6 Related party transactions and trustees’ expenses and remuneration

The trustees all give their time and expertise freely without any form of remuneration or other benefit in cash or kind. No trustees claimed any expenses in the year or the preceding year.

Trustees made donations to the charity during the year totalling £180 (2023: £180).

7 Taxation

The charity is registered for Gift Aid with HM Revenue & Customs under reference number W56202.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

8 Tangible fixed assets

Tangible fixed assets
	IT
	equipment
	£
Cost
At 1 April 2023	1,284
Additions	-
At 31 March 2024	1,284
Depreciation At 1 April 2023 Charge for the year	214 428
At 31 March 2024	642
Net book value At 31 March 2024 At 31 March 2023	642 1,070

There were no capital commitments at 31 March 2024 (2023: Nil)

9 Creditors: amounts falling due within one year

Accrued expenses	2024 2023 £ £ 360 720
	360 720

10 Analysis of net assets between funds

Current year	Restricted Designated Unrestricted Total funds funds funds funds £ £ £ £
Tangible fixed assets	- 642 - 642
Net current assets	946 - 7,910 8,856
	946 642 7,910 9,498
Prior year
Tangible fixed assets	- 1,070 - 1,070
Net current assets	3,406 - (1,739) 1,667
	3,406 1,070 (1,739) 2,737

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

Karen Education and Culture Department

We provided a grant to Karen Education and Culture Department for school materials, teachers’ subsidies, maintaining school buildings and other school related needs.

Karen Children

We are supporting boarding houses for Karen Children who are fleeing attacks by the Burmese military.

Phan Foundation CIO Notes to the Accounts for the year ended 31 March 2024

11 Movement in funds (continued)

Restricted funds (continued):

Internally displaced people

We supported emergency assistance to Internally Displaced People in Karen State, Kawthoolei through Karen communitybased organisation along Thailand -Burma Border.

Anonymity of organisation protected (for their security)

Medical equipment

We provided medical equipment for people in conflict effect areas in Karen State, Kawthoolei.