DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT CHARITY COMMISSION REGISTERED NO. 1203647
FINANCIAL STATEMENTS
for the period ended 31 March 2024
DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
for the period ended 31 March 2024
PANDORA PROJECT
Index
INDEX
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1 - 2 Trustees' Annual Report
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3 Independent Examiner's Report
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4 Statement of Financial Activities
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5 Statement of Financial Position
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6 - 11 Notes to the Accounts
DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Trustees' Annual Report
for the period ended 31 March 2024
The trustees present their report and financial statements for the of the charity for the period ended. The trustess have adopted the provisions of Statement of Recommended Practice ' Accounting and Reporting by Charities (FRS 102) in preparing the annual report and financial statements of the charity.
The Pandora Project was registered as a Charitable Incorporated Organisation with the Charity Commission on 20 June 2023 under registration number 1203647.
The charity's registered address is PO Box 91, King's Lynn, Norfolk, PE38 8BW.
The charity's trustees during the period were as shown below:
Cate Meagher Chair Jacky Wilson Treasurer Marie Fuller Amy Mitchell Vicki Sanderson
The charity employs a project manager who is responsible for the day to day running of the charity, Ms Tracy Mahoney, along with 13 further employees.
The professional advisers to the charity are as below:
West Norfolk VCA, Signpost House, Ambassador Way, Greens Road, Dereham, Norfolk, NR20 3TL Barclays Bank, 91-92 High Street, Kings Lynn, PE30 1BL
Objectives and activities for the public benefit
The objectives of the charity are to promote and protect the good health of victims of domestic abuse in Norfolk by providing advocacy, advice, support and information. In order to meet these objects the charity has received funding from multiple grant providers and the trustees would like to thank those organisations who have provided them with funding.
Pandora Project offers support, advice and information to women who are, or have been, suffering domestic abuse. It aims to raise awareness of domestic abuse, enable women to (re)gain control of their lives, and enable families to live in safety. Pandora Project offers one-to-one support, and outreach work within the local community.
The trustees consider that the objectives and activities of the charity are in accordance with the Charity Commissions' general guidance on public benefit.
Financial Review
At 31 March 2024, the charity had employed 11 full time equivalent members of staff.
During the period, the charity received £306,888 in grants that are restricted. At the year end, £243,128 of these grants remain unspent. There were also unrestricted funds unspent and carried forward of £184,609.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the management of its investments and finances and are satisfied that the systems in place sufficiently manage its exposure to these risks. The trustees have also developed strong working relationships with assisting bodies who are able to provide professional advice when required.
The biggest risk to the charity was the lack of trustees wishing to volunteer to assist in the charity's strategic management. It was decided to convert the charity to a CIO in order to offer the trustees an element of protection and along with the charity's insurance policies it is hoped that this risk has been mitigated.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
for the period ended 31 March 2024
PANDORA PROJECT
Trustees' Annual Report
Investment policy
Due to the level of reserves, income and outgoings the charity currently uses Barclays for its banking and deposits. This investment policy is considered sensible at the current time.
Reserves policies
The current level of free reserves amounts to £184,586 which relates to approximately 7 months of activities. The board consider this to be a minimum level of reserves to enable the benefciaries to remain supported should no other funding be made available.
….....................................
J Wilson
On behalf of the Trustees.
26-06-24 Date: …......................................... 2024.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
Independent Examiner's Report to the Trustees of
PANDORA PROJECT
I report to the charity trustees on my examination of the accounts of the charity for the period ended which are set out on pages 4 to11.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirement of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carrier out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records.
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
…............................................ 27-06-24 K. J. Maggs F.C.A., B.A. Dated: …............................................... 2024 Chartered Accountant Spalding
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Statement of Financial Activities
for the period ended 31 March 2024
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2024
Unrestricted Restricted Total
£ £ £
INCOME FROM:
Grants 20,000 306,888 326,888
Fundraising events 2,173 195 2,368
Legacies and donations 30,184 - 30,184
Gift Aid 156 1,845 2,001
Other income 4 - 4
Total income 52,517 308,928 361,445
EXPENDITURE FROM:
Charitable activities
Project evaluation costs - - -
Client financial support costs - 20,075 20,075
Project managers' salary - 43,949 43,949
Staff wages 15,148 137,302 152,450
National insurance 205 17,216 17,421
Staff pensions - 6,977 6,977
Staff and volunteer travel expenses 3,177 5,333 8,510
Sessional work 1,661 9,336 10,997
Support information and services 93 1,957 2,050
20,284 242,145 262,429
Indirect expenditure on charitable activities
Rent and venue hire 411 2,584 2,995
Fundraising expenses 100 - 100
Marketing and advertising 90 532 622
Printing and stationery 124 1,759 1,883
Computer and software costs 204 335 539
Insurance 789 - 789
Maintenance and renewals 63 5,358 5,421
Motor expenses 1,143 - 1,143
Training and conferences - 5,694 5,694
Accountancy and independent examination 1,000 - 1,000
Telephone 2,226 2,069 4,295
Sundry and office costs 281 643 924
Bank charges 47 50 97
Depreciation 5 6,762 6,767
Loss on disposal of assets - 3,847 3,847
6,483 29,633 36,116
Total expenditure 26,767 271,778 298,545
Net income 25,750 37,150 62,900
Transfers between funds (76,962) 76,962 -
Total funds transferred from the original charity 235,821 129,016 364,837
Total funds at 31 March 2024 184,609 243,128 427,737
Note 6 Note 6
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The notes on pages 6 to 11 form part of these financial statements.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Statement of Financial Position
at 31 March 2024
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Note 2024
Unrestricted Restricted Total
£ £ £
FIXED ASSETS
Tangible assets 5 23 25,484 25,507
CURRENT ASSETS
Cash funds:
Current account 184,153 212,220 396,373
Paypal account 174 - 174
184,327 212,220 396,547
Other current assets:
Prepayments 1,631 5,607 7,238
Total current assets 186,036 217,827 403,863
CURRENT LIABILITIES
Accruals:
Independent examiner's fee (1,450) - (1,450)
Other expenditure - (183) (183)
(1,450) (183) (1,633)
NET CURRENT ASSETS 184,586 217,644 402,230
Total Assets 184,609 243,128 427,737
CHARITY FUNDS
Restricted funds 6 - 243,128 243,128
Unrestricted funds 6 184,609 - 184,609
Total charity funds 184,609 243,128 427,737
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These financial statements were approved and authorised for issue by the Trustees on 21-06-24 …....................................... 2024 and signed on their behalf by:
…..................................... T Taylor Finance Manager …..................................... J Wilson Chair
The notes on pages 6 to 11 form part of these financial statements.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Notes to the Accounts
for the period ended 31 March 2024
1. Accounting policies
The charity is an unincorporated charity registered in England and Wales with the Charity Commission with the registration number 1159470. The charity's registered address is PO Box 91, King's Lynn, Norfolk, PE38 8BW.
The principal accounting policies adopted in the preparation of the financial statements are set out below.
(a) Basis of preparation of the financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis and are presented in sterling which is the functional currency of the charity.
(b) Income recognition
All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met, the amount can be measured reliably and it is probable that the income will be received.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably.
(c) Expenditure recognition
Expenditure is included in the Statement of Financial Activities on an accruals basis and is allocated to a particular fund where the costs relate directly to that fund. Expenditure is categorised under the headings recorded in the Statement of Financial Activities.
(d) Gifts in Kind
Gifts in Kind are brought into the accounts where there is either a reasonable estimate of their fair value to the funds or the amount which is actually realised. Where a value cannot be determined, or a reasonable estimate applied, the gift is not included in the Statement of Financial Activities.
(e) Definition of Funds
Unrestricted funds are available for use at the discretion of the Trustees in the furtherance of the general objects 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 administering such funds are charged against the specific fund. The intended use of each restricted fund is set out in the notes.
(f) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(g) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the next 12 months from authorising the financial statements.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Notes to the Accounts
for the period ended 31 March 2024
1. Accounting Policies (Continued)
(h) Judgements and key sources of estimation uncertainty
There are no significant judgements or estimations which have been made in the process of applying the above accounting policies, other than usual cut off judgements included in prepayments and accruals.
(i) Pension costs
The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the Statement of Financial Activity.
(j) Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against or credited to profits on a straight line basis over the period of the lease.
(k) Depreciation
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Motor Vehicles - 25% reducing balance - Office Equipment 20% reducing balance - Computer Equipment 33% straight line
2. Independent examiners fees
The following amount was payable for the independent examination of the accounts of the charity:
| Independent examination fees | 2024 £ 1,250 |
2023 £ 1,220 |
|---|---|---|
3. Related party transactions
The charity is controlled by the trustees as a body and no individual does or could exert control.
4. Trustees' remuneration and expenses
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected to them.
No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year.
| 5. Tangible fixed assets Cost Transferred from unincorporated charity Additions Disposals At 31 March 2024 Depreciation Transferred from unincorporated charity Charge for the year On disposals At 31 March 2024 Net book value At 31 March 2024 |
£ 54,852 - - 54,852 33,159 4,339 - 37,498 17,354 Motor Vehicles |
£ 4,406 459 (158) 4,707 2,210 442 (76) 2,576 2,131 Office Equipment |
£ 36,864 483 (11,287) 26,060 25,574 1,986 (7,522) 20,038 6,022 Computer Equipment |
£ 96,122 942 (11,445) 85,619 60,943 6,767 (7,598) 60,112 25,507 Total |
|---|---|---|---|---|
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Notes to the Accounts (continued)
for the period ended 31 March 2024
6. Funds
| £ Unrestricted funds General fund 235,821 Restricted funds Broadland Refuge - CAF 138 Children in Need 3,431 Client Use Fund 233 Denbury Fund - Garfield Weston Fund - Health and Wellbeing 5,415 Hidden Victims 70 Household Support Fund - Housing Project 20 JD Funds 768 Kings Lynn Women's Centre - Drop-i - Lloyds Foundation 2,131 Love Norfolk 1,923 Meridian 321 Money Saving Expert 165 National Lottery 24,236 Nationwide Building Society - NCF Fund 6,764 NIDAS 1,154 Norman Lamb Fund 10,368 PCC Fund 22,841 Personnel Expenditure Fund - Red House Youth Trust 705 Rosa woman to woman 16,298 Salary Donations 21,570 Surviving Winter Fund 2,000 Travel Expenses Fund - Wells Community Hospital Fund 1,170 West Norfolk Rural Community Capital Fund - Women's Aid 2,910 Women's Aid - Emergency Fund 4,385 Restricted funds 129,016 Total funds 364,837 Transfer in |
£ 52,517 66,405 - - 2,542 - 15,000 - - 10,000 - - 4,000 - 5,000 - - 97,580 60,000 - - 127 - - - - 29,097 - - 4,940 5,270 67 8,900 308,928 361,445 Incoming Resources |
£ (26,767) (67,327) (37) (3,328) (283) (35) (2,699) (5,415) (19) (10,000) - (210) (1,013) (657) (4,342) (51) (26) (77,874) (5,500) (5,913) (1,154) (8,400) (5,016) (130) (698) (15,970) (33,239) (2,000) - (5,460) (1,596) (1,698) (11,688) (271,778) (298,545) Outgoing Resources |
Transfers £ (76,962) (194) - - 11,681 35 - - - - (20) - - - - - - - - - - - - 5,000 - - 24,950 - 37,107 - - - (1,597) 76,962 - |
At 31 March 2024 £ 184,609 (1,116) 101 103 14,173 - 12,301 - 51 - - 558 2,987 1,474 2,581 270 139 43,942 54,500 851 - 2,095 17,825 4,870 7 328 42,378 - 37,107 650 3,674 1,279 - 243,128 427,737 |
|---|---|---|---|---|
Transfers between restricted funds relates to projects which meet the restriction but have been separately classified by the Trustees to ensure plans can be met.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Notes to the Accounts (continued)
for the period ended 31 March 2024
7. Funds - Analysis of net assets
| Unrestricted funds General fund Restricted funds Broadland Refuge CAF Children in Need Client Use Fund Garfield Weston Fund Hidden Victims JD Funds Kings Lynn Women's Centre - Drop-in Lloyds Foundation Love Norfolk Meridian Money Saving Expert National Lottery Nationwide Building Society NCF Fund NIDAS Norman Lamb Fund PCC Fund Personnel Expenditure Fund Red House Youth Trust Rosa woman to woman Salary Donations Travel Expenses Fund Wells Community Hospital Fund West Norfolk Rural Community Capital Fund Women's Aid |
Tangible net assets 23 128 101 103 - - 51 558 - 1,474 - 270 139 2,892 - 100 - 971 17,825 - 7 328 - - - 226 311 25,484 25,507 |
Bank Accounts 184,586 (3,429) - - 14,173 11,889 - - 2,987 - 2,581 - - 41,050 54,500 - - - - 4,870 - - 42,394 37,107 650 3,448 - 212,220 396,806 |
Other net assets - 2,185 - - - 412 - - - - - - - - - 751 - 1,124 - - - - (16) - - - 968 5,424 5,424 |
Total 184,609 (1,116) 101 103 14,173 12,301 51 558 2,987 1,474 2,581 270 139 43,942 54,500 851 - 2,095 17,825 4,870 7 328 42,378 37,107 650 3,674 1,279 243,128 427,737 |
|---|---|---|---|---|
8. Fund descriptions
Broadland Refuge Fund - monies to be used for the provision of our Broadland Refuge. This fund includes £5,000 received during the year from The Farthing Trust.
CAF Fund - monies to be used for the provision of specific items of our general services and to allow additional staff hours.
Children in Need Fund - represents monies received from the CiN charity and are to be spent on the costs under the application made by the charity.
Client Use Fund - relates to the reimbursement from funds for vouchers used and Broadland Refuge monthly management fees. The purpose of the fund is to have cash available for when clients desperately need financial help.
Denbury Fund - is a grant to assist the charity with running a domestic abuse programme for women called Open the Box.
The Garfield Weston Fund - relates to funds received from the Garfield Weston Foundation which are available for our organisation’s running costs. We are required to treat the funds as restricted and provide explanations as to their use.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Notes to the Accounts (continued)
for the period ended 31 March 2024
8. Fund descriptions (continued)
The Health and Wellbeing Fund - relates to funds in order to provide support, sign-posting advice and any other assistance to women living in West Norfolk aged 16 and over. It is also to fund projects to continue the support will continue for as long as clients require.
Hidden Victims is a Police and Crime Commissioner for Norfolk fund in order to set up the 'Phoenix Project' which is supporting female indoor sex workers at risk of trafficking and exploitation in Norfolk. This three year pilot project is run in partnership with Norfolk Police.
Household Support Fund relates to funds received from Norfolk Community Foundation to provide support for utility bills in order to prevent family issues to ease such tensions.
Housing Project Fund is to provide safe accommodation for women and families needing to flee from an abusive home.
JD Funds - are to provide Information Technology equipment for clients and staff.
Kings Lynn Women's Centre - Drop-in Fund - relates to funding provided by The Geoffrey Watling Charity to enable the charity to provide a facility in Kings Lynn for a women's drop-in service.
Lloyds Foundation - This grant, receivable in instalments to 2021, is a contribution towards the funding of a part-time Adult Support Worker, allowing the charity to deliver services to more women. The transfer of £303 related to an overspend which was paid out of the general fund.
Love Norfolk Fund - relates to funding received from the Norfolk Community Foundation for the purpose of travel expenses for staff to reach clients in West Norfolk.
Meridian - A one off grant to fund increased support worker hours and venue hire. This will be used to increase capacity for a 10 week 'Open the Box' programme aimed a women who have experienced domestic abuse.
Money Saving Expert Fund - This was a one off grant awarded towards the costs of an additional support worker .
National Lottery - represents the National Lottery Community Fund from the RC London and South East Region program which is a 3 year funding programme to enable weekly 1:1 sessions for children and young people suffering from abuse.
Nationwide Building Society Fund - relates to funds received to fund 'Oasis'. The Grant is for a period of two years by which time the Grant should be spent. However, we are able to agree a change in use for the funds should circumstances change during the Grant Period.
NCF - comprises of several grants which collectively fund staff salaries, IT and Adult wellbeing services, in order to support domestic violence victims. This includes the provision of phones and tablets to facilitate webchat services during the Covid-19 pandemic.
NIDAS - the Norfolk Integrated Domestic Abuse Service is a joint partnership working across all of Norfolk for high and medium risk women. The trustees decided to leave this partnership as of 27 May 2022 for various reasons considered to be in the best interests of the charity's beneficiaries.
Norman Lamb Fund - were funds provided in order to assist in the running of a new 8-week course, Grow Together, to improve the relationship between children who have experienced domestic abuse, and their non-abusive parent.
PCC Fund - This is funding awarded to support the overall objectives and administrative upkeep of the charity and has been utilised towards salaries, administration and governance costs to help PCC meet the increased demand on domestic abuse support services. additional funding was made available during the year to purchase a mobile home, enabling services to continue during the Covid pandemic and beyond.
Personnel Expenditure Fund - relates to funds restricted by the Trustees in order to cover staff costs not covered by grants.
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DocuSign Envelope ID: C20E1358-82DE-4E33-9937-4A6D9076D8FA
PANDORA PROJECT
Notes to the Accounts (continued)
for the period ended 31 March 2024
8. Fund descriptions (continued)
Red House Youth Trust Fund - represents funds provided to run a 10 week recovery programme which aims to help women to understand the abuse they have suffered, the effects on children and how to move forward to a positive future.
Rosa woman to woman provides funding for a full time domestic abuse support worker for women who have been sexually abused.
Salary donations Fund - was a restricted fund established by the trustees to put money aside for wages payable. This fund will enable the long term future of the charity and donations for this specific purpose are also added.
Surviving Winter Fund - are funds for the charity to run a Community Hot-Spot.
Travel expenses Fund - relates to funds set aside by the trustees for the purpose of meeting expenses paid to staff and volunteers in undertaking charitable activities.
Wells Community Hospital Fund - relates to funds received in order to enable us to provide our 'Open the Box' service at the Old Cottage Hospital, including funds towards a specific member of staff.
West Norfolk Rural Community Capital Fund - relates to funds received from the West Norfolk Rural Community Capital Grants for the purpose of purchasing laptops and other equipment to support five new volunteers working for the charity.
Women's Aid Fund - to assist us to fund our case management system, Oasis.
Women's Aid - Emergency Fund - to assist in providing for survivors to support leaving abusers and to help secure an independent future and prevent pressure to return to abusers because of any financial strain.
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