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2021-03-31-accounts

Charity Registration No. 295324

Company Registration No. 02051893 (England and Wales)

PAN INTERCULTURAL ARTS LIMITED

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees O O Fashola
H M Fokerd
T Makiwa
A Meyric-Hughes
T J Moloney
S Rook
S A Schutt
B St Louis
C Minvielle
R Ramnauth
Secretary J C Martin
Charity number 295324
Company number 02051893
Registered office 32 O'Donnell Court
Brunswick Square
London
WC1N 1NX
Independent examiner Moore (South) LLP
33 The Clarendon Centre
Salisbury Business Park
Dairy Meadow Lane
Salisbury
Wiltshire
SP1 2TJ
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4JQ

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 19

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)".

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Pan Intercultural Arts Limited is dedicated to the presentation and exploration of interculturalism through the arts and to the role these can play in enriching the understanding of the diverse cultures now living side by side in contemporary urban society. There was no change to these aims in the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Trustees

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

O O Fashola H M Fokerd W H C Gutteridge (Resigned 5 May 2021) T Makiwa A Meyric-Hughes T J Moloney S Rook S A Schutt B St Louis C Minvielle R Ramnauth

Recruitment and appointment of new trustees

The trustees regularly review the structure, size and composition of the board, with the object of having a membership of varied experience that is able to offer help and advice.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Objectivies and activities Significant activities

This has been a year of unexpected challenges for Pan Intercultural Arts. We started the year having just entered the Covid-19 related Lockdown and have had to navigate our way through projected dates to end the Lockdown, new restraints, periods of great optimism and periods of uncertainty. We have spent most of the year unable to meet participants face to face but we ended it with the first of our projects going back into real spaces, rediscovering how we do our work best - with people in a space.

In the face of these challenges the trustees are delighted and proud to report that the commitment and ingenuity of our artist-facilitators have enabled Pan to continue the majority of its work despite the difficulties.

Before the first Lockdown we were running 9 regular weekly projects. By mastering the possibilities of virtual sessions, especially Zoom, we were able to continue 6 of these during lockdown periods. We were only unable to continue where schools were closed or safe houses were not admitting visitors and did not have sufficient internet access.

However during the year, in periods when lockdowns were eased, some of these projects were able to restart and one completely new project was launched, only to go back online in Lockdown 3. Using the new-found possibilities of Zoom another completely new project emerged linking different parts of the UK.

Over the year we were able to deliver more than 19,000 participant hours on and offline, only slightly less than in more ‘normal’ years.

Realising the importance of online communication in these unusual times Pan implemented strategies to support other areas of its work, with a focus on fundraising, campaigning and digitalisation. Overall there has been a consistent increase in the number of people reached through social media and the press, with an estimated 410,000 people reached on social media and 4.7 million people reached through newspapers, tv and radio.

Nevertheless the Covid-19 situation had an effect on our staff, participants and work. We have experienced:

In general our funders have been understanding, generous and flexible, enabling us to adapt to the constantly changing situation.

Covid-19 did not reduce the need for our work. Our target groups remained the same and still needed the benefits our sessions afford them. Pan Intercultural Arts has continued to engage with some of the most disadvantaged and marginalised members of society, through its London-based activities, adding new areas of work and seeding new collaborations throughout the UK and overseas.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

In London

London continues to be the base for our administration and our core projects, reacting to some of the most current and important social situations. Our projects work creatively with:

Across the UK

Our Expansion Programme of “seeding” projects in other towns and cities where there are needs which our work can meet, has given us considerable experience in this field.

Expansion programmes have been less easy to run this year and were mostly suspended except for a few sessions. These are

The nature of the work

Our artistic and creative sessions, which give new possibilities of expression to our participants, include theatre, video making, choral singing, creative writing, presentation skills, mask work, puppetry and rap.

Our primary goal is the development of individuals and groups to cope with their everyday lives. This year our outreach work to the public was mainly online, especially through streamed videos during Refugee Week. Television and print media also widely covered the Women of The Year award.

We continue to encourage our participants to take on roles of responsibility within the projects, as peer mentors, moving to peer facilitators and finally to become fully employed artists. Half of our artist-facilitators were former participants in our groups. Having experience of the realities which participants face makes them ideally suited to work in and lead these projects.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

We see many personal stories of growth and development from participants from very difficult backgrounds and are proud of their new ability to take their place in society, while we continue to offer support to those who need it. Many have overcome huge obstacles to gain employment, develop leadership skills, move into tertiary education and much more.

This is made possible by our skilled and motivated artists and managers, who have given new chances to people who previously saw no hope for their futures.

Pan’s advisors and supporters

Our Development Committee of voluntary advisors and consultants continues to explore and initiate new areas of fundraising and advocacy. In limited circumstances events had to be organised online, including the 2.6 Challenge and a Bake-Doughnate challenge.

Overseas

We continue to track the many companies and projects we have seeded and trained in different parts of the world, and we give advice to many other groups where our knowledge is most useful.

Pan’s techniques in Theatre for Development were passed on to five provincial performing arts groups in workshops in Northern Vietnam so that they could develop Forum Theatre plays to initiate debates around human trafficking. The second phase of training had to be through online rehearsals and video presentations to increase skills.

The resulting plays were performed in communities from which people are trafficked, reaching audiences of ca. 10,000. Funding is in place for further performances. This was a collaboration with British Council, the International Office of Migration and the Vietnamese Government.

Conclusion

Pan’s work continues to be needed in areas of deprivation and marginalisation. Our artists achieve remarkable results with thousands of people benefiting from our interventions in their lives. This year has presented new challenges and Pan’s team has reacted with innovative ways of working to keep the groups intact and the creativity flowing. This was helped by the creation of a new post, Company Manager, to increase the company’s efficiency.

Financial review

All work is undertaken on a project basis and fundraising must be undertaken to finance every project. This continues to be the main method of financing the company. The organisation received grants from a number of public funding bodies, trusts and foundations and other sources and these funds, together with reserves brought forward from the previous financial year, were used to fulfil its objectives.

The charity was able to manage and undertake its planned tasks effectively and in a timely manner. All the grants received were applied in accordance with the terms and conditions stipulated within each funding agreement and, where appropriate, some funds have been carried forward to the year 2020/21 representing funding for projects not completed.

The financial position of the charity is as disclosed in the Statement of Financial Activities and the Balance Sheet as at 31 March 2021.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Reserves policy

The trustees have reviewed the reserves policy, with a view of achieving financial resilience and have established the following objectives:

  1. To establish Strategic Development/General Running reserves, to support the delivery of Pan's mission and securing operational stability.

  2. To establish a General Fund reserve to maintain financial resilience on an on-going basis in the event of a shortfall in income or unexpected operating expenditure.

The trustees aim is to maintain Pan's Unrestricted Funds reserves, at a level that will allow Pan to weather fluctuations in the level of operational activity and income. This is deemed to be in the range of £50,000 to £100,000, equivalent to approximately 3 to 6 months operating expenditure in the event of a wind-up of the charity's operations.

Additionally, the trustees will seek to designate funds within the Unrestricted Funds reserves to a minimum of £10,000 to support Strategic Development.

The trustees' r eport was approved by the Board of Trustees.

H M Fokerd

Trustee Dated: 19 October 2021

S Rook Trustee Dated:19 October 2021

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF PAN INTERCULTURAL ARTS LIMITED

I report to the trustees on my examination of the financial statements of Pan Intercultural Arts Limited (the charity) for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Moore (South) LLP

33 The Clarendon Centre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshire SP1 2TJ

Dated: 19 October 2021

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
2
18,975
327,144
Charitable activities
3
-
811
Investments
4
-
118
Total income
18,975
328,073
Expenditure on:
Charitable activities
5
5,524
329,554
Net incoming/
(outgoing) resources
before transfers
13,451
(1,481)
Gross transfers
between funds
(1,394)
1,394
Net income/(expenditure)
for the year/
Net movement in funds
12,057
(87)
Fund balances at 1
April 2020
67,084
87
Fund balances at 31
March 2021
79,141
-		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
346,119
42,432
297,943
811
4,632
1,891
118
-
324
347,048
47,064
300,158
335,078
20,413
327,549
11,970
26,651
(27,391)
-
(27,304)
27,304
11,970
(653)
(87)
67,171
67,734
174
79,141
67,081
87		 Total
2020
£
340,375
6,523
324
347,222
347,962
(740)
-
(740)
67,908
67,168

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 MARCH 2021

2021
Notes
£
Fixed assets
Tangible assets
8
Current assets
Debtors
9
4,489
Cash at bank and in hand
349,386
353,875
Creditors: amounts falling due within
one year
10
(274,734)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
12
Unrestricted funds		 2020
£
£
-
21,280
256,083
277,363
(210,517)
79,141
79,141
-
79,141
79,141		 £
322
66,846
67,168
87
67,081
67,168

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 19 October 2021

H M Fokerd S Rook Trustee Trustee

Company Registration No. 02051893

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Pan Intercultural Arts Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 32 O'Donnell Court, Brunswick Square, London, WC1N 1NX.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

Although the Covid 19 pandemic has led to unexpected challenges, the trustees are proud to report that the charity has continued to provide the majority of its activities despite the difficulties.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources .

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.11 Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
8,293
269
Grants
10,682
326,875
18,975
327,144
For the year ended 31 March 2020
42,432
297,943		 Total
2021
£
8,562
337,557
346,119		 Total
2020
£
54,076
286,299
340,375
340,375

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Donations and legacies
Unrestricted
Restricted
funds
funds
2021
2021
£
£
Grants receivable for core activities
BBC Children in Need
-
36,148
Young Londoners Fund
-
-
City Bridge Trust
-
35,000
National Lottery Heritage Fund
-
22,710
Arts Council England
-
-
Youth Music
-
25,747
Garfield Weston Foundation
-
25,000
Lloyds Bank Foundation
-
25,000
Nelumbo Stiftung
7,977
17,023
CEMEX Foundation
-
25,000
Greater London Authority
-
41,260
Clarion Futures
-
20,000
Peoples Postcode Trust
-
15,000
The Bromley Trust
-
15,000
The Leathersellers' Company Charitable Fund
-
15,000
The Young Westminster Foundation
-
10,643
Maingot Charitable Trust
-
10,000
Trial & Error
-
10,775
Groundwork
-
9,092
Young Westminster Foundation
-
8,900
Camden Council
-
6,000
The Grocers' Charity
-
-
St Andrew Holburn & Stafford's Charity
-
-
Young Camden Foundation
-
-
Co-op
-
3,269
CAF Coronavirus Emergency Fund
2,705
-
John Lyon's Charity
-
2,280
Chivers Trust
-
-
Souter Charitable Trust
-
-
Croydon Council
-
747
Worshipful Company of Makers of Playing Cards
Charity
-
-
Fii Fii Limited
-
-
The Scarfe Charitable Trust
-
-
Bombo Productions
-
-
Movement in deferred income
-
(52,619)
10,682
326,875		 (Continued)
Total
Total
2021
2020
£
£
36,148
34,341
-
41,260
35,000
21,000
22,710
21,903
-
28,757
25,747
35,733
25,000
25,000
25,000
25,000
25,000
-
25,000
-
41,260
-
20,000
10,000
15,000
-
15,000
15,000
15,000
15,000
10,643
-
10,000
10,000
10,775
-
9,092
1,000
8,900
8,900
6,000
-
-
5,000
-
4,850
-
4,660
3,269
-
2,705
-
2,280
-
-
2,000
-
1,650
747
1,550
-
1,000
-
1,000
-
1,000
-
689
(52,619)
(29,994)
337,557
286,299

2 Donations and legacies

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

3 Charitable activities

Other income
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 March 2020
Unrestricted funds
Restricted funds		 2021
£
811
-
811
4,632
1,891
6,523		 2020
£
6,523
4,632
1,891

4 Investments

Restricted Restricted
funds funds
2021 2020
£ £
Interest receivable 118 324

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Charitable activities

Artistic Director
Administration Officer
Fundraising Manager
Company Manager
Rent
General Running
Weapon of Choice Residencies
Weapon of Choice Theatre Group
Weapon of Choice Intercity
Weapon of Choice Ipswich
Fortune
Amies London
Amies Broadstairs
Amies Freedom Choir
Amies Alumnae
Future
Strategic Development
Theatre Development Books
Building Bridges
Training and Supervision
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 March 2020
Unrestricted funds
Restricted funds		 2021
£
35,001
21,892
27,757
11,048
5,906
26,534
25,366
33,474
3,448
1,389
14,845
35,597
8,678
22,173
21,599
27,433
5,131
-
5,382
2,011
335,078
335,078
5,524
329,554
335,078
20,413
327,549
347,962		 2020
£
35,000
19,525
27,822
-
7,088
22,372
32,468
32,477
8,063
-
26,221
35,926
-
30,692
16,776
33,114
20,413
5
-
-
347,962
347,962
20,413
327,549
347,962

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

7 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Permanent staff (PAYE) 4 3
Support (Freelance) 16 15
Total 20 18
There were no employees whose annual remuneration was £60,000 or more.
8 Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2020 30,001
At 31 March 2021 30,001
Depreciation and impairment
At 1 April 2020 29,679
Depreciation charged in the year 322
At 31 March 2021 30,001
Carrying amount
At 31 March 2020 322
9 Debtors
2021 2020
Amounts falling due within one year: £ £
Other debtors 2,794 19,192
Prepayments and accrued income 1,695 2,088
4,489 21,280

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

10 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
11
Other creditors
Accruals and deferred income
11
Deferred income
Other deferred income		 2021
£
1,307
256,091
12,196
5,140
274,734
2021
£
256,091		 2020
£
1,573
203,372
432
5,140
210,517
2020
£
203,372

Other deferred income relates to grants and donations received for charitable activities for which the performance conditions have not been met at the balance sheet date.

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers
Balance at
1 April 2019 resources expended 1 April 2020 resources expended 31 March 2021
£ £ £ £ £ £ £ £
£
Restricted 174 300,158 (327,549) 27,304 87 327,720 (329,201) 1,394
-

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13
Analysis of net assets between funds
Unrestricted
Restricted
funds
2021
2021
£
£
Fund balances at 31
March 2021 are
represented by:
Tangible assets
-
-
Current assets/
(liabilities)
79,141
-
79,141
-		 TotalUnrestricted
Restricted
funds
2021
2020
2020
£
£
£
-
148
87
79,141
66,846
-
79,141
66,994
87		 Total
2020
£
322
66,846
67,168

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

14 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2021 2020
£ £
Within one year 9,450 9,450

15 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

16 Legal Status

The company is limited by guarantee and has no share capital. The extent of each member's liability, should the charity be unable to continue as a going concern, is limited to an amount not exceeding £1.