RE615TERED CHARITY NUMBER.. 1176740 REPORT OFTHE TRUSTEES AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR PAN TOGETHER Bright Brown Limited Chartered Accountsnts Exch3ng@ House St. Cross Lane Newport Isle of Wight P030 58Z
PAN TOGETHER CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report ol the Truste¢s Independent Examlner's Report StatÈmÈnt Of Flnancial Activitie5 Balance Sheet Notes to the Financial Statements 9 to 20 DÈtalled Statement of Financial Actlvities 21 to 22
PAN TOGETHER REPORT OF TFIE TRU5fEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report wlth the financi31 staternents of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities." StatemÈnt of Recommended Practice applicable ro charitie5 preparing their accounts in 8tcordance with the Financial Reporting Standard applicable in the UK 3nd Republic of Iielènd IFRS 1021 (Èffective l January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims To further or benefit the residents of East Newport, 151e of Wight by a$50Clating together the said residents and the local 81Jthorities, voluntary Ènd other organisations in a common effort to advance education and to provide facilities in the interests of so¢iBI welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents. Public benefit The Trustees hève Complied with their duty under section 411) of the Charities Act 2011 with regard to Charity Cornrnission guidance on public benefit when reviewing their objectives, 3ims, and future planning. ACFIIEVEMENT AND PERFORMANCE Charitable activities Pan Together exists to support and provide a community hub forthe residents of East Newport, which includes the Isle of Wight's m05t disadvant3gÈd area, r3nked at 5.8% in England's most deprived. In trther words, 94% of p13cÈs across thÈ ¢ountry 3re more 8ffluent than Pan. Many people in our cornmunity fèce multiple challenges and are amongst so¢iety'5 most vulnerable and m8rginalised. Our missitsn is to improve the conditions of life for local residents. Our purpose-built centre comprises.. community café providing wholesome, affordable food whilst 3lso 3Ctlng as a social hub.. an IT le3rning 5Uite (with free Wi-fi and 51K computers),. - two community rooms.. ) large training kitchen,. and an outside producÈ*rowing area. We provide.. - vital signposting and triage supptsrt for people needing 3SSlSt3ncÈ and adwce,. help to avÈrt social isolation,. frÈe courses in Maths, English and IT., volunteering and work experiÈnce opportunities,. social activities such as bingo,. and cookery sessions for vulner8ble children, young people and familie5. Our b03rd of trust@Ès gUlarlY reviews the community's need5 and we respond well to changing circumstances. We've 3n incrÈasingly pivotal role at the heart of thÈ ltrtal comrnunity. We offer both dirert practic?1 support in terms of advice and signp05tin& food and the chance to learn new skills, and more indirect support with respect to being warm, friendly and nurturing centre for people Struggling with the ch311engos of their lives- such as Poverty, Isolation, loneliness and low levels of self-esteem and self-confidence. Having identified the growing need in Autumn 2021, our cornmunity support and anti-povertv services are Isadlyl increasingly e55ential. No-one should have to choose between food, fuel and children's clothes. We c3n't change the world but we do make 3 direct differÈnte to people's lives. Page I
PAN TOGETHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH Z024 Our Pan Employability Project provides free weekly drop-in sÈssions for people wanting to brush up their skills 3nd/or get help wrth their CV and/orare thinking about returning to work after 3 break. Our Pan Community Larder is open twice a week for local rÈsidents. Member5 pay E5 per visit for two carriÉr bags of fresh. froien, refriEerated, tinned and dried food and other household essentials. whi£h they ch005e for themselves. If they thoose wisely, they'll receive E20 to £30 of good5 e3¢h visit and no one needs a refÈrral. From the beginning of March 2023 to the end of March 2024, we saw èn astonishing 597% increase in visits to the larder, supporting 208 household5 3nd 598 resident5. Over 4,500 mDuths have been fed. Our Money Man3gÈment and Form-Filling Service began in mid-july 2023, supporting Island resident5 to tlaim their benefit entitlement5, develop their budgeting ski115, 5tsurcÈ rep13cement5 for broken household goods and in tnaking In the period of this report, thls new service supported 105 households and 184 re5ident5. It's a damning indictment On Society that people have to f3ce dÈspÈrate crises on 3 daily b35i5- but we'll continue to do what we can to make a differen£È ttswards our mission of irnprovirtg the conditions of life for local rÈsidents' futures. Our arhiÈvÈments and capacityto deliver have oncÈ again been recogni5ed with a Silver Award at Vect15 Radio's Isle of Wight Cotnmunity Awards. Further recosnition of the v31ue of our work comes in the form of financial contributions. This year and in furtherance of our ch8ritable Dbjects, significant funding h35 bÈÈn sÈcurerl from a wide range of sources.. - the ASDA Foundation,. Bauer Music Group'5 Cash for Kid5 Ctsst of Llving Fund,. - the government's Community Organi53tions' Cost of Living Fund,. insurance company, FidÈlity International,. the Hamp5hirÈ & Isle of Wight Comrnunity Fouridation-, the Hampshire & Isle of Wight Grand Masonic Lodge,. the Isle of Wight branch of Unison.. the Isle of Wight Council'5 Adult CDmmunity Learning tearD,' - thelsle of Wight Council's / DepÈrtment of Work & Pension5 housÈhold support fund., the Isle of Wight Festival., the Isle of WiEht's High Sheriff Fund., the Islè of Wight's Living Well & Early Help Service.. the155e of Wight Rotary Club., Localgiving / Postcode Society Trust., Construction company, Mackley,. the Nationa1 Lottery Community Fund,. Newport & Carisbrooke Community Council,. P3P Partners., Ridge Clean Energy,. - Southern Co-op's'more Inclusive Neighbourhoods, Fund.. Southern Co-op's Foodbank Fund,. Southern Water'5 Community Gr3nt Fund,. Sovereign HousingAssoci3tion Inow SNGI.. energy companyi Utilita,. and V2 Radio's camp3ign with Southern Water. Page 2
PAN TOGETr5ER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 We've now been operating for 17 yÈars. The organisation's mission is as strong and much-neÈded as ever. As long as funding is forthcoming, we'll be sustainable well into the future so that we can Continue to make change 3 reality. The trustees, vision is to further develop the increasingly vibrant £entre's role 3t thÈ heart of the community to nèw levels. focusing on its continuing development as 3 community hub to support mor& and different loc21 residents. OncÈ again, the past year has been a real journey for Pan fogÈther's volunteers and Staff. We continue to mature as a charity working forthe interests of local people and acting as advocates on their behalf. Without the help of our stalwart volunteÈrs plus very genÈrous donations and successful grant applications, we simplv couldn't have 3chiÈvÈd what we have- and we re311y do appreciate everyone's support tremendously. The trustees have been very proud to have shaped 311 of Pan Together's work this yÈ)r and thank evÈryone who has made such excellent contributions so that the charity can continue to make 8 real and tangible diffÈrence to our comrnunity. For further details of the charity's work, please vistt www.pantOEether.org.uk. FINANCIAL REVIEW Financial position As referred to in thÈ above charitable attivities section, our main focus this year has been on the Pan Community Larder and the new Money Management & Form-filling Service. The former has now been running for nearly 18 months and the latter for 8 mtsnths. The former has a Sustainable modÈl that should allow it to run for 3t least a further 3 yeaT5, but hopefully services like this will no longer be needed wth 3 change of national government at Westminster. We shall seÈ. The Money management service w3s initially funded by a transferred lottery grant from thÈ now closed IW Law Centre who used to provide the seNice - and we have secured frther grant funding 8nd have used some of our general reseNes. The service is provided by two part-time members of staff working a total of 35 hours across. 5 days per week. It 15 provided to all Island residents after trustees agreed to extend our service Brea just for this service. We also secured further funding for our Pan Ernployability project, which is run successfully by on& part-time member of st8ff and is seen as a model example by the IW CounciL We have maintained our roorn rent31 Intome during the ye3r- 2 kÈy port of our usual income stream- above and well beyond thÈ levels pre-covid, though less than last. Café incomÈ 15 restored to pre-covld levels, combined with more rigorous trustee control of suppliÈs expenditure. Taking into a¢¢o>unt Supplies and wages, cafe losses have remained at pre-covid levels140p in the £1, a redurtion on 13St year of 6pl,' with trustees accepting that the cafe is a loss lÈader for bringing casual visitors into the community centre. All the income we receive we spend or have p13ns to spend on sUPPOrting resldents in our community and maintaining the community cÈntre, our servitts and our comrnunity cafe. At the tim@ of writing, our finances continue to rem3in as healthy as they ever have in our 17 years of existence. Discounting rÈttricted project funds and our designated reserves (see below), our general fund bÈlance over the past yÈar is £35.894. Four years ago It was just £1,106, proving the benefits of seed corn Community Lottery Grants and having a Manager experienced zt securing grant funding. Our heartfelt thanks to all ourfunders and private support2r5. Page 3
PAN TOGETHER REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS Thanks to the cDntinuing improvements in our financial position 3nd to be prep3red for future commitments and risks trustees have put aside designated reserves. We have planned well for the future beyond our initial Community Lottery Grant, which ended in June 2022, by setting aside designated reserves of.. £16,822 to ctsvèr at least 2-3 years-worth of increasing utilities and premises costs Ipreviously funded by the Community Lottery grant)., - £11,541 as a buildiDg5 fund reserve a5 there are always work5 and itnprovements required to our comrnunity centre,. £72,133 tD secure the services of Dur Manager beyond her current extension of 31 May 2024. This13tter extension Was funded by the Comrnunity LottÈry for a further 2 years beyond her original 3-year Lottery funded post. Our reserve will fund two additional years Until 31 March 2026 and will also cover a 5ignifiiant Incie85e in remuneration from April 2023 in rÈtognition of the role She has performed over the past 5 year5. She has certainly proved her value to our communitv. £23,483 to fund our newi P8rt-timÈ Admin Support until June 2026. We a150 have various restricted rÈsÈrve funds including.. £56,980 is our Ctsmmunity Support fund, funded by grants and speclfic don3tions- 3 much needed resource as we continue to endure the 5Èrious 'c05t of living, crisis. It is largely been used to maintain and fund our Community Larder, which we believe is sustainable for the next 3 years at Current levels of funding,. £16,198 to run our Money Management advice 5ervicÈ until january 2025. We are hopeful of getting additional funding for this,. £5,664 is project funding from Sovereign HA Hnd the IW Council's Adult & Community Learning servlce for our ongoing Pan Employabillty project- in p13ce and running very successfully since May 2022. 5TRucfuRE, GOVERNANCE AND MANAGEMENT Govemlng document The charity is controlled by its governing document, a dÈed of trust and constitutes an unincorporated charlty. REFERENCE AND ADMINISTRATIVE DETAILS RegisterÈd Chartty number 117674D Principal address Downside Cornrnunity Centre Furrlongs Newport lslÈ of Wight P030 2AX Page 4
REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees L Byrne, Chair Iresigned 18.7.231 M Craven. Chair G Brodie, Secretary J Ballington M Thatcher G Grant K Allen Iresign&d 18.10.231 R Quigley (appointed 18.10.231 A Woodford lappointed 18.10.231 Centre Manager R Thomson Independent Examiner Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ Approved by order of the board of trustees o and signed on its behalf by.. G 8rodie- Trustee Page 5
INDEPENDEh EXAMINER'5 REPORT TO TTrIETRUSTE OF PAN TOGETHER Indep&rtdent eK3miner's report tothetru5tees of Pan Together I report to the charity trustees on rny examination of the accounts of Pan Together (the Trustl for the year ended 31 March 2024. Responsibilities and basis of rèport As the Charity trustees of the Trust you are responsible for the preparation of rhe accounts in accordance with the requiremÈnts of the Charities Act 20111'thÈ Act'l. I report in respect of my exarnin3tion of the Trust's accounts Carri out under Section 145 of the Att 3nd in Carrying out my examination I have followed 8113pplicable DirÈrti¢ns Ven by the Charity Commission under Settion 1451Sllbl of the Act. Independent examiner's statement I have completed my examination, I confirm that no material matters have corne to rny attention in connection with the 2Kamination giving me cèuse to believe thèt in any material respÈct= accounting rordS were not kept in respect of the Trust Zs requlred by SecriDn 130 of the Act,. or the accounts do not actord with those rÈeords,' or the accounts do not comply with the applicable qUireMeNts concerning the form and ¢¢ntent of accounts Set out in the Charities (Accounts 3nd R&portsl Regulatits 2008 othÈr than any requirement that the accounts give 3 true and kirview which is not a matter ctsnsidered as part of an independent examination. I have no concern5 znd have come across no other rnatter5 in connection with the examin3tion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. David Stevens The Institute of Chartered Accountants in England and Wales Bright Brown Limited Chartered Accountants Exchange House St. Cross Lan& Newport Isle of Wlght P030 56Z Date.. Page 6
PAN TOGETrIER STATEMENT OF FINANC5AL ACTivmES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total fund5 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 37.832 125,940 163,772 105.455 Other trading artivities Investment income Other income 21,086 17,256 170 21.086 17,256 170 21,116 26,333 4,511 Totsl 76.344 125,940 202,284 157,415 EXPENDITURE ON Raistng funds 14,461 14.461 15,432 Charitable artivities Support services 74,011 82,362 156,373 105,183 Totsi 88,472 82,362 170,834 120,615 NET INCOMEIIEXPENDITUREI Transfers between fund5 112,1281 26,243 43,578 126,2431 31,450 36.8(KJ li Nei movement tn funds 14,115 17,335 31.450 36.8CKJ ftECONCIUATION OF FUNDS Total funds brought forward 146,007 72,711 218.718 181,918 TOTAL FUNDS CARRIED FORWARD 160.122 90.046 250.168 218.718 The note5 fom) part of these financial statements Page 7
PAN TOGETHER BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total fund5 Unrestricted funds Restricted funds Notes FIXED ASSETS T3n8ible assets 16,583 16,583 14.416 CURRENT ASSETS Debtors Cash at bank 2,823 143.026 2,823 233,885 2,638 203,354 90.859 145,849 91J,859 236,708 205.992 CREDITORS Amounts falling due withln Dne ye3r io 12,3091 18141 13,1231 11,6901 NET CURRENT ASSÉTS 143,540 90.045 233,585 204,302 TOTAL ASSETS LESS CURRENT LIABILITIES 160,123 90,045 250,168 218,718 NET ASSETS 160.123 90,045 250.168 218.718 FUNDS Unrestricted funds Restrict fund5 li 160,123 90,045 146,007 72,711 TOTALFUNDS 250,168 218,718 The financial tate s were approved by the Board of Trustees and authori5ed for issue and were signed on its behalf by.. on G Brodie- Trustee rant- Trustee The notes form part of these financial statements Page 8
PAN TOGETHER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2D24 ACCOUNTING POLICIES 8asis of preparing the financial statements The financial statements of the charityi which is a public benefit entity under FR5 102, have been prep3rÈd in accordancÈ with the Charities SORP IFRS 1021 'Accounting 3nd Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th@ UK 3nd Republic of Ireland IFRS 1021 l&ffectivÈ l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the LIK and Republic of Ireland, 8nd the Charities Att 2011. The financlal statements have been prepared underthe historical cost convention. IncomÈ All incolne is recognised in thÈ statement of Fin3ncial Activities once the charity has entitlernent to the funds. it is probable that the income will be received and the amount can be measured reliably. E%penditure Liabilities are recogni5ed as expenditure as soon BS there is è leg31 or constrvrtive obligation committing the charity to th3t expenditure, it is probable that a transfer of economi¢ benefits will be required in sÈttlèment and the arnount of the oblig3tion can bÈ nea5ured reliably. Expenditure is accounted for on an accruals basis nd has been classified under headin8S that aggregate 311 cost rÈlÈted to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basi5 consistent with the use of resources. TangiblÈ fixed assets Depreciation 15 provided at the followlng annual rates in order to write off each asset over tt5 estimated useful Fixture$ 3nd fittings 20% on reducing balance Toxation The charity is exempt from tax on its charitsble 3Ctivities. Fund accounting UnrÈstrirted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds only be used for particular restricted purposes within the objects of the charity. Re5trirtions arise when spÈcified bythe donor or when funds 3rÈ raised for particular restricted purposes. FurthÈr explanation of the nature and purpose of ea¢h fund 15 included in the notes to the financial 5t8ternents. Page 9 continued...
PAN TOGETHER NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 20Z4 OTHER TRADING ACTIVITIES 2024 2023 CafÈ salÈs Bingo 20,896 190 20.907 209 21,086 21,116 INVESTMENT INCOME 2024 2023 Rents received 17,256 26,333 CHARITABLE AcllviTIES COSTS Support costs C05t5 Tot315 Support servi¢es 149,569 6,804 156,373 TRUSTEES, REMUNERATION AND BENEFs L Byrne worked for the charity on 8 self employed basi5 Wlthin the Pan Employability project and was remuner3ted £1,12512023- £3,600) in the year. Tru5tee5' expenses There were no trustees, expenses paid for the year ended 31 Mèrch 2024 nor for the year ended 31 March 2023. STAFF COSTS 2024 2023 Wages and salaries 74.013 40,832 74,013 40,832 The average monthly number of employee5 during the year was as foSlows-. 2024 2023 Manager Cafe Admin support Debt relief No etnployees received emoluments in excess of E60,000. P3ge ID continued...
PAN TOGETHER NOTESTO THE FINANCIAL sfATEMENTS. tontinued FOR THE YEAR ENDED 31 MARCH 2024 STAFF COSTS- continued rhe cÈntre manager is considered key management personnel. The total employee benefit for this post was £31,74212023- £25.6751. COMPARATIVES FOR THE STATEMENT OF FINANCIAL A1VITIEs Unrestricted funds Flestritted funds Total funds INCOME AND ENDOWMENTS FROM Oonations and legacies 11.975 93,480 105.455 Othertrading activities Investment income Other incorne 21,116 26,333 4.511 21,116 26,333 4,511 Total 63,935 93,480 157,415 EXPENDITURE ON R3ising funds 15,432 15,432 Charitable activitie5 Support services 38.692 66,491 105,183 Total 54.124 6S,491 120,615 NET INCOME TransfÈrs between funds 9,811 17,792 26,989 117,7921 36,800 Net rnovement in funds 27,603 9.197 36,800 RECONCILIATION OF FUNDS Tot81 funds broughtforward 118.404 63.514 181.918 TOTAL FUNDS CARRIED FORWARD 146.007 72,711 218,718 Page 11 continued...
PAN TOGETHER NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Improvements to Fixtures and fittings property Totals COST At l April 2023 AdditlOn5 8,176 64,301 6,313 72,477 6,313 At 31 March 2024 8,176 70,614 78,790 DEPRECIATION At l April 2023 Chargè for year 8,176 49,885 4,146 58,061 4,146 At 31 March 2024 8,176 54,031 62,207 NET BOOK VALUE At 31 March 2024 16,583 16,583 At 31 March 2023 14,416 14,416 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtOTS Other debtors 2,053 770 2,638 2.823 2,638 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other treditors 1,323 1,800 748 942 3,123 1,690 Page 12 continued...
PAN TOGETHER NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMENT IN FUNDS Net Transfers between funds movÈment in funds At 31.3.24 At 1.4.23 VTrrestricted funds General fund Covid support Wages Premises fund 8uildin8 fund Pan Meadows Residents Admin support fund 29,001 29,690 56,801 20,890 9,375 250 112,1271 19,020 129,6901 15,332 14,0681 2,166 35.894 72,133 16,822 11,541 250 23,483 23,483 146.007 112.1271 26,243 160,123 Restritted ft4nds Ltrttery Sovereign Youth club fund G3rnett Foundation VRU2 Good Exchange- Pan EmployabTIity Community support fund Lottery 2- Managers Wages Early Help Debt relief 1,285 11,2851 1,094 1.513 16,0831 2.607 6,083 785 2,970 7,892 49,187 4,509 17851 12,1841 11,5991 123,4921 17861 16291 31,285 18191 640 14,198 80 4,820 16421 5,664 56,980 3,690 16401 16,198 80 4,820 Sovereign Cooking 24- Move on & Thrive Organisation strength funding 648 72,711 43,577 126,2431 90,045 TOTAL FUNDS 218.718 31,450 250,168 Page 13 continued..
PAN TOGETHER NOTESTO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMENT IN FUNDS- £ontinued Net movÈmÈnt in funds. included in the above are 35 follows.. Incoming resources RÈsources expÈnded MovernÈnt in fund5 Unre5trirted lunds Generzl fund 76,344 188,4711 112,1271 Restricted funds Sovereign Youth club fund VRU2 Good Exchange- P3n Employability Comrnunity support fund Lottery 2- Managers Wages Early Help Debt relief Isle of WiEht Council 3,001 11,4881 16,0831 17861 15,6291 124,3741 127,8911 11.5571 111,3021 18911 11.7201 1,513 16,0831 17861 5.000 55,659 27,072 2,197 25,500 891 1.8C 4,820 31,285 18191 640 14,198 80 4.820 16421 Sovereign Cooking 24- Move on & Thrive Organisation strength funding 16421 125,940 182,3631 43,577 TOTAL FUNDS 202,284 1170,8341 31,450 Page 14 continued...
PAN TOGEfHER NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMENT IN FUNDS- continuÈd Comparatives for movement in funds Net rnovement in funds TnSfer$ between funds At 31.3.23 At 1.4.22 Unrestricted funds GeneTrl fun(f Covid support Wages Premises fund uilding fund Pan MÈadow5 Residents 12,696 29,690 50,027 14,890 10,851 250 9.811 6,494 29,001 29,690 56,801 20,890 9.375 250 6,774 6,000 11,4761 118.404 9,811 17.792 146,007 Restricted funds Art Lottery VRU Youth club fund Gèrnett Foundation ACL Fatnily Kitchen Wares IW Foundation Community Fridge 40 10,220 1,761 6,083 2,067 1,182 500 15,561 I,D33 4.085 4,959 IS,023 1401 12.7741 11,7611 16,1611 1,28S 6,083 785 15911 16911 11,1811 Isooi 17,7371 17,8241 1.937 13.6341 1.301 32,452 4,510 5,000 VRU2 Good Exchan8e- Cooking up Life Skills Good Exchange- Pan Employability Community support fund LottÈry 2- M?n3gers Wages Asda- Space5 8nd Places 2,970 14511 1,632 712 7,892 49,187 4,S09 15,0001 63,514 26,989 117,7921 72.711 TOTAL FUNDS 181,918 36,800 218,718 Page 15 continued...
PAN TOGETHER NOTESTO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2D24 ii. MOVEMENT IN FUNDS- continued Comparative net movement In funds, included in the above are as follows.. Incoming resources Resources ÈxpÈnded Movement in funds Unrestricted lunds General fund 63,93S 154,1241 9,811 Restricted funds Lotterv GarnÈtt Foundation ACL IW Foundation Community Fridge VRU2 Good Exchangé- Cooking up Life Skills Good ExchangÈ- Pan Employability Community 5UPPOrt fund Lottery 2- Manager5 W3Ees Asda Spaces and Places Early Help 16.1611 15911 16,1611 500 11,076 18.3241 19,1391 13,6341 15,1991 111,0461 121,7741 17,8241 1,937 13,6341 1,301 32,452 4,510 5,000 6,500 43,498 26,284 5,000 623 16231 93,480 166,4911 26,989 TOTAL FUNDS 157,415 1120,6151 36.800 PagÈ 16 continued.
PAN TOGEfHER NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDE(131 MARCH 2024 ii. MOVEMENT IN FUNDS- continued A current year 12 rnonths and prior year 12 months Combined position is as follow5.. Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestritted fLtnds General fund Covid 5UPPOrt WÈEÈS Premises fund Buildingfund Pan Me3dows Residents Admin support fund 12,696 29,69D 50,027 14,890 10,851 250 12,3161 25,514 129,6901 22,106 1.932 690 35,894 72,133 16,822 11,541 250 23,483 23,483 118,404 12,3161 44,035 160,123 Restr¢rted tunds Art Lottery Sovereign VRU Youth club fund Garnett Foundation ACL Famil¥ Kitchen Wares IW Foundation Community Fridge VRU2 Good Exchange Cooking up knfe Skills Good Exchange- Pan Ernploy4bility Community support fund Lottery 2- ManagÈrs Wages Asda- Spaces and Places E3rly Help Debt relief 40 10,220 1401 14.0591 1,094 11,7611 16,1611 1.513 1607 1.761 6,083 2,067 1,182 51KI 15,561 1,033 4,085 4,959 16,023 16.0831 15911 11,4761 11,1811 Isooi 17,7371 12.1841 14511 33 122.7801 17,8241 I,Isi 13,6341 672 63,737 3.691 5.000 640 14,198 80 4,820 16421 5,664 56,980 3,690 15,0001 16401 2,000 16,198 80 4,820 Sovereign Cooking 24- MOVÈ on & ThrNe Organi5ation strength fundine 648 63,514 70,566 144,0351 90,045 TOTAL FUNDS 181,918 68,250 250,168 Page 17 Continued...
PAN TOGETHER NOTE5 TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMENT IN FUNDS- continued A current year 12 month5 and prior year 12 month5 combined net movement in funds, included in the abtsve are as follows.. Incoming resources Re50urce5 expended Movement in funds Unre5trlrted funds General fund 140,279 1142,5951 12,3161 Re5trirted funds Lottery Sovereign Youth club fund Garnett Foundation ACL IW Foundation Cornmunity Frld8e VRU2 Good Exchange- Cooking up Life Ski115 Good Exchange- Pan Employability Community support fund Lottery 2- Manager5 Wages A5da- Space5 and PlJces Early Help Debt relief 151e of Wight Council ILC 16.1611 11,4881 16,0831 15911 16,16LI 1,513 16,0831 15911 3,ODI 500 11,076 18,3241 19,9251 13,6341 110,8281 135,4201 149,6651 17,8241 1,151 13.5341 672 63,737 3,691 5,000 640 14,198 11,500 99,157 53,356 2.820 25,500 891 1,800 4,820 12,1801 111.3021 189LI 11,7201 80 4,820 16421 Sovereign Cooking 24- Move on & Thrive Organisation Strength funding 16421 2L9,420 1148,8541 70.566 TOTAL FUNDS 359,699 1291,4491 68.250 Unrestrlcted funds.. General fund. This is our 'free' reserve fund to be used to cover unforeseen operational costs should these Covid support. This fijnd was est3blished by the tru5tee5 to support the charity's lifeline sUPPOrt services during the pandemic lincluding no cost home-delivered children'5 lunches, lunches for vulnerable local residents, essential shopping and prescription collection51deliverie51. ThÈ trustees transferred thi5 mDnÈy to other desi2n3ted funds when the coronaviru5 ÈmÈrgÈncy ceased. Wages. Thi5 fund h35 been designated by the trustee5 to secure the Community Centre Manager post to the end of March 2026. This post was funded by the Nation31 Lottery Community Fund until the end of May 2024. Prernise5 fund. This fund has been designated by the trusteès to cover two to three years, worth of increasing utilities and premi5e5-relatÈd costs. Page 18 continued...
PAN TOGETHER NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMENT IN FUNDS- continued Building fund. This fund has be&n designated by the trustees as 8 building maintenancè reserve as we have full repairing lease on the community centre. It is also to be used for any capitèl irnprovemÈnts to the premises. Admin support fund. This fund has been desiEn3ted by the trustee5 to secure the new part-time Cornmunity Centre Administrator post until the end of Mèy 2026. Restricted funds= Sovereign. Our loTrl housing a55ociation provided funding to run 8 series of cookery courses for parents and children from Barton Primary School. The resour¢e5 expended p8id for the costs of thesÈ. Further courses will run in 2023-24. Youth Club Fund. This funding wa5 from Newport & Qrisbrooke Community Council but we have been unable to recruit a youth worker SD the rnonies were returned. VRU 2. This funding from the Home Office's Violence Reduction Unit wa5 used to fund ) cookery course. Good Exchange Pan Employability. This funding was from Sovereign via an online funding platform. supported the costs aSSOC13ted with our weekly drop-in session for people wanting to brush-up their skills and/or get help with thÈir CV5 andlor are thinklng about returning to work after a break. Community Support Fund. This funding is from a variety of sourcÈs including the Household Support Fund, the Hampshire & Isle of Wight Community Foundation, the A5DA Found3tion, Southern Co-opi private individuals and a nurnber of companiÈs. The fund's prim3ry purpose is to provide community SUPPOrt ènd anti-poverty services in fulfilment of our mi$5ion to improve the conditlOn5 of life for IDcèI residents, especially when the cost of living crisis is biting SD hard. The majority of rÈsource5 expended relatÈ to stock for our communty larder as well a5 crisis supermarket vouchers for housÈholds in particu13r hardship. Lottery 2- Manager's SeS. Fundingfrom the Nation41 Lottery Community Fund. Early Help. Funding from the151t of Wight Council'5 Children's Services tÈ2rn to run a series of cookery courses forvulnerable families. Q>ebt reliÈf. Funding from the National Lottery Community Fund, the HampshirÈ & 151e of Wight Community Foundation and elsewherÈ to run our new money management and form-filling service which13mongst other things) helps people tlairn the benefits to which thÈy are entitled. 151e of Wight Council. Funding relating to the replacement of faulty equipment. ILC. Funding from the Island Learning CÈnto to run 8 series of cDokery ¢our5e5 for their students. Sovereign Cooking 24- Move on & Thrive. Fundingto run a cookery project with vulnerable 16 to 25-year*lds. Organi5ation strength funding. Monie5 from the National Lottery Community Fund to increase the charity's sustainability. Expenditure re13tes to the production and doorstep delivery of newsletter5 for local residents. Transfers between fund5: During the period, the trustees made thÈ ftsllowing fund tnsfer$.. Page 19 rontinued...
PAN TOGETHER NOTES TO THE FINANCIALSTATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMENT IN FUNDS- tontlnLsed Designated tunds.. £29.690 from Covid support W35 reallocated to other designated funds now that coronavirus emergèncy teased. £15,332 was designated to the wages fund to set aside the funds necessary for the post. £4,068 was transferred from the premises fund to allow for funds expendpd In the year. £23,483 was tr3n5ferred into the Admin support fund, from restricted funds as noted below. to set aside the funds necessary forthe post. Re5tri¢ted funds.. The transfer from C5F of £23,492 represents a transfer agreed wlth the funder to unrÈstricted funds for the creation of ASF and the correction of mingr costs included in gener31 funds relating to the CSF expenditure in the period. There were also other minor funds transfers to correctly represent expenditure and funds held at the year @nd. 12. RELATED PARTY DISCLOSURES There wÈre no related party trans3ttions forthe year ended 31 March 2024. Page 20
PAN TOGETHER DETAILED STATEMENT OF FINANCIAL AcmiiTIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOMEAND ENDOWMENTS Donations and legacie5 Donations and gntS 163.772 105,455 Othertrading activities Cafe sales Bingo 20,896 190 20,907 209 21,086 21,116 Investment income Rents received 17.256 26,333 Other in£ome Sundry incorne Events 170 734 3,777 170 4,511 Tot21 incoming ¥esources 202,284 157,415 EXPENDITURE Othertrading activitses Purchases Cafe incident31s and concessions 12,731 1,730 14,768 664 14,461 15.432 Charitable artivities Wages TelÈphone Postage and st3tionery Sundries ookkÈeping Cleaning Premise expenses Events Don3tion5 Insur8nce Bank charges 74.013 407 471 1,741 3,554 4.546 5.677 40,832 255 148 792 3,242 3,688 3.D96 $64 300 538 232 4,516 58,303 1,000 1.182 214 7,221 100,026 Carried forward This p3ge does not form part of the statutory financial statements Paze 21
PAN TOGETHER DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Charitable activities Brought forward Subscriptions Other charitable costs Grant returned to funder 100,026 58,303 621 33,541 8,130 43,460 6,083 149,569 100,595 Support costs Finance Fixture5 4nd flttings 4,146 3,604 Governance tosts Accountancy Atcountancy underprovision 1,842 816 942 42 2,6S8 984 Total resources Èxpended 170,834 120,615 Net income 31.450 36.800 This page doe5 not form part of the statutory financial statements Page 22