2023-03-31-accounts

Company registration number 02051893 (England and Wales) AN Charity registration number 295324 on INTERCULTURAL cS For soci’&

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PAN INTERCULTURAL ARTS LIMITED

(A COMPANY LIMITED BY GUARANTEE)

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ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Trustees

O 0 Fashola H M Fokerd T Makiwa

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A Meyric-Hughes T J Moloney $ A Schutt B St Louis R Ramnauth A Haroun R Begum LP Goldby {Appointed 13 July 2023) S Froment {Appointed 13 July 2023) A Bray (Appointed 13 July 2023)

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Secretary

JC Martin

Charity number 295324 Company number 02051893 Registered office 32 O'Donnell Court Brunswick Square London WCIN INX Independent examiner Moore (South) LLP 33 The Clarendon Centre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshire SP1 2TJ Bankers CAF Bank Limited 24 Kings Hill Avenue Kings Hill West Malling Kent MEI? 4JQ

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||||||| |---|---|---|---|---|---| |PAN|INTERCULTURAL|ARTS|LIMITED| |CONTENTS(A COMPANY LIMITED BY GUARANTEE)| |Page| |Trustees’|report|1-7| |Independent|examiner's report|8| |_|Statement|of|financial|activities|9| |Balance sheet|10| |Notes|to the|financial statements|11-20|

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r PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

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The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in noie | 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 Ihe 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 staternents were:

O O Fashola H M Fokerd : T Makiwa A Meyric-Hughes T J Moloney S A Schutt B St Louis C Minvielle (Resigned 6 February 2023} R Ramnavuth A Haroun R Begum LP Goldby (Appointed 13 July 2023) § Froment (Appointed 13 July 2023) A Bray (Appointed 13 July 2023)

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.

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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PAN’S’ ACHIEVEMENTS IN 2022/23 “Pan gave me the spark | needed to continue my life”

Pan has had an Intense and successful year, making the full return to activity after the COVID pandemic and ail its social consequences.

Activity Highlights

Pan has continued to work for its key communities, enabling those who feel they do not have the confidence or a voice to fulfil their potential to take significant steps to more fulfilling futures. In times when Immigration, modern day slavery, social cohesion and opportunities for the more deprived are key issues in our society, we are proud to continue this work as long as it is needed and are grateful to our funders who have enabled this.

This year we ran 14 projects providing over 356 workshop sessions and increased our participants from 321 to an astounding 984.

REFUGEE ARTS:

Papillon - weekly in Crawley for young Afghan women, recently relocated to the UK Since arranging childcare provision for a number of young mothers, we have seen the benefits of spending time with young women their own age, establishing a sense of self outside of the mother role. The sessions provided a consistent and safe space for the young women to grow anda documentary was created around the participants' experience of arriving in the UK.

“It is very nice that people still think of us and we don't feel so abandoned by the country which brought us here. We love attending the sessions"

Eortune - weekly in Euston for young adult refugees and migrants

We noticed a considerable increase in the number of participants whose growing confidence has allowed them to enter employment. Their creation of ‘The Shape of Love’ saw them thrive in the creative elements of the process, with their willingness to share showing their growth of confidence.

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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Building Bridges - a short term project at Newham College bringing young people from refugee and host community groups together to explore commonalities and differences

Both groups thoroughly enjoyed and benefited from the exercise to work together. The research into Hate Speech and Unifying Speech led to fascinating observations on how language is used to manipulate, stimulate and tempt. We were particularly proud of how several young Muslim women developed strong confident voices in the group and were impressed by their own progress.

Euture - weekly in Croydon for unaccompanied minor asylum seekers

With many participants approaching 18 and major life decisions surrounding them, we observed the importance of play and positioning Future as a place of fun and relaxation. The group bonded well while sharing food after the session sharing their hopes, concerns and advice for others.

WEAPON OF CHOICE (WoC):

WoC Theatre Group - weekly in Camden, addressing life challenges through drama for young people in difficult circumstances

WOC Theatre Group embarked on a dynamic journey throughout the year filled with creative exploration, skills development, and memorable experiences. The group grew their theatrical talents by attending three captivating theatre trips and devising and presenting a powerful performance. They actively participated in peer mentorship, training sessions, and master classes, enhancing thelr skills and fostering a deeper appreciation for the theatrical arts.

WoCResidencies(in school) - weekly at an alternative provision academy using drama to help embrace the curriculum

Alternating between poetry and drama sessions, students were encouraged to work on personai poetry pieces which culminated in a powerful performance to an audience of peers and teachers. Previously, many students would often leave classes early and these sessions saw massive growth in attendance and retention,

WoC Expansions Projects

Where a specific need is identified, our WoC team is able to respond and take our methodologies to them. This work was taken to two housing estates in Lewisham and a youth centre in Ipswich. As part of the Ipswich project, all participants were given the opportunity to be an ‘extra’ in Call the Midwife which they all found incredibly exciting and empowering.

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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WoCResidencies(after school) - a short term 18 week project training students in leadership skills During improvisation exercises and group scenes, participants learned how to negotiate ideas, listen to others' suggestions, and contribute constructively to the creative process. In preparing for the final performance, participants guided their fellow participants, providing direction and making creative choices as well as taking accountability for their actions and making steps towards making positive changes.

"The support from everyone here made me feel like my words matter. I've never felt this confident before." AMIES (for female survivors of trafficking, weekly in Homerton):

Amies London - preparong participants for stepping into positive futures

Using drama, movement and storytelling empowered the women to rediscover their confidence and aspirations, leading many members into employment and education (including a degree in accountancy and another in psychology).

Amies Freedom Choir - singing forjoy and to overcome trauma-related symptoms

Through successful partnerships, the participants experienced three masterclasses in Afro-Cuban music, three theatre visits and two theatre workshops. They performed alongside the Alumnae choir in a captivating sharing, and recorded their songs at Goldsmiths University music studio.

Amies Alumnae Choir - developing and creating repertoire for performance

This year they have reached record numbers of people, bringing a positive image of survivors of trafficking to thousands of people with 17 performances. This included a commission to compose a piece of music for an installation as part of Hull Freedom Festival.

AmiesBroadstairsChoir - in Kent, finished in July 2022

The participants who attended these weekly sessions achieved a beautiful work share with the staff at the end of the project in July 2022.

“I feel proud to hear our voices. I'm intrigued that people are listening to our voices. | was looking at people who came fo visit it and listening, | was thinking, | wonder if they know it's me. | wanted fo fell everyone ‘that’s me, fhaf’s me!"

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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Spreading and Sharing Pan's Work

Pan’s work is not primarily public facing as our participants are vulnerable and our projects work on the process of growth rather than putting them in the spotlight which has other pressures and anxieties. However, when participants are ready we are able to share their work with friends, carers, youth workers and the public. One performer proudly told us “Now / can give something back through my performance”.

Pan was part of 22 events, growing our audiences significantly from 2,000 people to reaching over 32,000.

We also organise annual public events to inform audiences of our work. This year, one of our artists curated a stand up poetry event which drew a full audience, many of whom knew little about Pan. Through radio interviews, good publicity and a wonderful atmosphere the richness of creative writing and performed poetry as an agent of change was celebrated.

We have had a steady flow of PR activities including an interview on BBC Radio London, interview for The national ‘I’ News and one of our facilitators profiled In a magazine. We shared on Instagram our Artistic Director John Martin at a conference in Finland on playfulness and Adwoa Dickson, Director of the Amies Projects, at a conference in Prague.

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f PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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Celebrating and Supporting our Staff

Cultivating the talent, creativity and growth of our inspiring team of artists delivering the work continues to be a key priority at Pan. Over 50% of our facilitators are former participants in our projects, bringing invaluable lived experience to the work, over 78% identify as nonwhite, and 65% are female or non-binary. To sustain and celebrate this, we have been training three new peer facilitators (past participants) across our projects, have promoted a peer facilitator to artist facilitator and continue to offer further training and development to all of our staff including ensuring their voices are at the forefront of decision making at Pan.

Post-Covid we have needed to acknowledge and address the shift in the way that charities engage with their stakeholders and the negative effect the ongoing their stakeholders and the negative effect the ongoing stakeholders and the negative effect the ongoing and the negative effect the ongoing the negative effect the ongoing negative effect the ongoing effect the ongoing the ongoing ongoing economic crisis has impacted on has impacted on impacted on on sources of funding. funding.

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with their stakeholders and the negative effect the ongoing their stakeholders and the negative effect the ongoing stakeholders and the negative effect the ongoing and the negative effect the ongoing the negative effect the ongoing negative effect the ongoing effect the ongoing the ongoing ongoing economic crisis has impacted on has impacted on impacted on on °
sources of funding. funding.
We are engaging are engaging engaging more effectively with existing and new supporters by appointing effectively with existing and new supporters by appointing with existing and new supporters by appointing existing and new supporters by appointing and new supporters by appointing new supporters by appointing supporters by appointing by appointing appointing our first part- first part- part-
time Marketing and Communications Manager and Increasing our fundraising Communications Manager and Increasing our fundraising Manager and Increasing our fundraising and Increasing our fundraising Increasing our fundraising our fundraising fundraising staff capacity to allow capacity to allow to allow allow
focus on diversifying our income income streams.
The Impact of our work our work work
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We are engaging are engaging engaging more effectively with existing and new supporters by appointing effectively with existing and new supporters by appointing with existing and new supporters by appointing existing and new supporters by appointing and new supporters by appointing new supporters by appointing supporters by appointing by appointing appointing our first part- first part- parttime Marketing and Communications Manager and Increasing our fundraising Communications Manager and Increasing our fundraising Manager and Increasing our fundraising and Increasing our fundraising Increasing our fundraising our fundraising fundraising staff capacity to allow capacity to allow to allow allow a focus on diversifying our income income streams.

The Impact of our work our work work

Ricardo is from from Peru, and and has been attending the group for over three years. At first been attending the group for over three years. At first attending the group for over three years. At first the group for over three years. At first group for over three years. At first for over three years. At first over three years. At first three years. At first years. At first At first first his English was was poor and and his body language was body language was language was was stiff and withdrawn. Although he attended and withdrawn. Although he attended withdrawn. Although he attended Although he attended he attended attended - even by Zoom during even by Zoom during Zoom during during Covid - it was rare that he expressed was rare that he expressed rare that he expressed that he expressed he expressed expressed an opinion, suggested an idea or led opinion, suggested an idea or led suggested an idea or led an idea or led idea or led or led led in an exercise. an exercise. exercise. Progress was was slow but the fact that he attended but the fact that he attended fact that he attended that he attended he attended attended constantly showed he wanted to be with showed he wanted to be with he wanted to be with to be with be with with us.

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PAN INTERCULTURAL ARTS LIMITED
(A COMPANY LIMITED BY GUARANTEE) cS
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) Pr oF
FOR THE YEAR ENDED 31 MARCH 2023 “OR somA
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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 2023/24 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 2023.

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 a Strategic Development fund, to support Pan's mission and strategic objectives outlined in its business plan. In particular Pan has earmarked funds in the coming year to pilot new projects, expand existing projects, introduce a training programme for participants and find a new permanent centre for all of Pan's activities.

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 £75,000 to £125,000, 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 £80,000 to suppart Strategic Development objectives.

The trustees’ report was approved by the Board of Trustees.

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAN INTERCULTURAL ARTS LIMITED

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| report to the trustees on my examination of the financial statements of Pan Intercultural Arts Limited (the charity) for the year ended 31 March 2023.

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, | 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 | 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. | confirm that | am qualified to undertake the examination because | am a member of ACCA, which is one of the listed bodies.

• | have completed my examination. | confirm that no 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 in respect of the charity as required by section 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

| have no concerns andhdve come across no other matters in connection with the examination to which attention should bé dihwn in this report in order to enable a proper understanding of the financial statements to be pegchbd. R MacDonald (/ Moore (South) LLP 33 The Clarendon Centre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshire SP1 27J Dated: \qn[agaasino] Ne oe 2008“

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

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FOR THE YEAR ENDED 31 MARCH 2023

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Restricted	Total
		funds	funds		funds		funds
Income from: Donations and	Noles	2023 £	2023 £	2023 £	2022 £		2022 £	2022 £
legacies Charitable activities Investments	2 3 4	159,786 17,486 403	312,891 494 48	472,677 17,980 451	107,178 595 ~		409,687 3,485 5	516,865 4,080 5
Totalincome		177,675	313,433	491,108	107,773		413,177	520,950
Expenditure on: Charitable activities	5	25,705 7 =	486,257 —-	511,962 a	6,934 ——		412,088 ——	419,022 a	:
Netincoming/(outgaing)
resources before transfers
		151,970	(172,824)	(20,854)	100,839		1,089	101,928
Gross transfers
betweenfunds		(172,824)	172,824	-	1,089	~	(1,089)	-
Net (expenditure)/income		for
the year/
Netmovement infunds		(20,854)	-	(20,854)	101,928		”	101,928
Fund balances at 1 April 2022		181,069	-	181,069	79,141		-	79,141
Fund balances at 31
March2023		160,215	-	160,215	181,069		.	181,069

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

Allincome 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.

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2023

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			2023			2022
	Notes	£		£	£		3
Current assets
Debtors Cashatbankandinhand	bd	3,284 296,875			1,720 395,394
Creditors: amounts falling due within		300,159			397,114
oneyear	10	(139,944)			(216,045)
Net currentassets				160,215			181,069
Income funds
Unrestrictedfunds				160,215			181,069
				160,215			181,069

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 2023, .

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 Bs] financial statements were approved by the Trustees ge Adsl 20 uP

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Trustee Trustee
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Company registration number 02051893

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 37 MARCH 2023

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• 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 INX.

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 | 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 | not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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 concem

• Al 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 obiectives.

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.

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.

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PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 ec 1 Accounting policies (Continued)

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 carying value of the asset, and is recognised in the stalement of financial activities.

• 1.7. 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.

1.8 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 setile on a net basis or fo 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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 al transaction price and subsequently measured at amortised cost using the effective interest method. 1.2 Taxation —_ . a 2 § # e e ede Bae ee Me min wtb helen com bisitincg

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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• 1 Accounting policies

(Continued)

1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received,

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

• 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	Resticted		Total	Total
	funds	funds
	2023	2023		2023	2022
	£	£		£	£
Donations and gifts Grants	45,185 114,601	S40 312,351	=	45,725 426,952	6,818 510,047
	159,786	312,891		472,677	516,865
Fortheyearended31 March2022	107,178	409,687			516,865
Donations and gifts
Other	45,185	540		45,725	6,818
	45.185	540		45,725	6,818

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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2 Donations and legacies

(Continued)

	Unrestricted	Restricted		Total	Total
	funds	funds
	2023	2023		2023	2022
	£	£		£	£
Grants receivable for core activities
Aésop Foundation	85,311	-		85,311	79,880
ArtsCouncil England	-	-		-	23,006
BBCChildren in Need	-	-		-	9,037
BNP Paribas	-	-		-	4,700
-CEMEX UK	-	~		-	15,000
CityBridge Trust Clarion Futures Co-op LocalCommunityFund	- : -	20,620 5,122 -		20,620 5,122 -	24,250 21372 2,576	,
DWP Kickstart GarfieldWeston Foundation	. -	2,096 -		2,096 -	5,543 25,000
GroundworkLondon	-	14,256		14,256	908
Howard deWalden Estates Ltd	-	-		-	10,000
Ipswich Borough Council	-	-		-	14,487
Lifelines International	.	85,952		85,952	36,132
LloydsBankFoundation	25,000	2250	~-	27;250	25,000
Maingol Charitable Trust Moira BradleyFoundation	: -	10,000 -		10,000 -	10,000 500
National LotteryCommunityFund PostcodeSocietyTrust	4,290 -	31,162 -		35,452 -	31,198 25,000
Prospero World	.	5,100		5,100	.
Strand ParishesTrust The BritishCouncil TheBromleyTrust The Leathersellers’Company Charitable Fund WestminsterCityCouncil	- - - - -	3,000 2,500 15,000 15,000 -		3,000 2,500 15,000 15,000 -	- - 15,000 15,000 10,643
Young LondonersFund	-	6,111		6,111	19,341
Young Westminster Foundation	:	11,288		11,288	11,290
YouthMusic Movement ofdeferredincome	- -	8,583 74,311		8,583 74,311	25,747 49,437
	114,601	312,351		426,952	510,047

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) FORNOTES THE TO YEAR THE ENDEDFINANCIAL31 MARCH STATEMENTS (CONTINUED)2023 , ; ST

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3 Charitable activities

	2023	2022
	£	=
Otherincome	17,980	4,080
Analysis by fund
Unrestricted funds Restricted funds	17,486 AoA	595 3,485
	17,980	4,080
Forthe yearended 31 March 2022
Unrestricted funds	595
Restrictedfunds	3,485
	4,080

4 Investments

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
		£	£	£	£	£	£
Interest	receivable	403	48	45)	-	5	5

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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5 Charitable activities

		2023	2022
		£	£
Artistic Director Administration Officer		38,084 25,621	34,999 29,843
FundraisingManager		22,923	26,242
CompanyManager		31,902	29,901
Marketing Manager		7,211	-
Rent GeneralRunning Weapon ofChoice Residencies Weapon ofChoiceTheatreGroup		9,450 48,565 25,266 37,924	9,450 30,649 19,140 31,614
Weapon ofChoice Intercity		-	240	'
Weapon ofChoice Ipswich Weapon ofChoice Lewisham		5,600 3,792	11,592 -
Weapon ofChoice Orchard Gardens Fortune		5,366 22,673	- 19,965
AmiesLondon Amies Broadstairs AmiesFreedom Choir	~	36,709 8,320 34,605	30,782 13,338 33,125
AmiesAlumnae Future StrategicDevelopment		53,038 30,330 25,704	35,890 35,071 6.935
Theatre Development Books		(314)	-
Building Bridges		4,179	112
Kickstart assistant Papillon Training and Supervision International projects		4,200 26,405 2,103 2,306	5,556 11,124 3,454 -
		511,962	419,022
		511,962	419,022
Analysis byfund
Unrestricted funds		25,705	6,934
Restricted funds		486,257	412,088
		511,962	419,022
Forfheyearended 31 March 2022
Unrestricted funds		6,934
Restrictedfunds		412,088

419,022

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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é 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 2023 nor for the year ended 31 March 2022.

7 Employees

The average monthly number of employees during the year was:

		2023	2022
.		Number	Number
	Permanent staff (PAYE)	3	4	os
	Support (Freelance)	22	21
	Total	25	25

There were no employees whose annual remuneration was £60,000 or more.

8 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the exfent that these are applied to its charitable objects.

9 Debtors

		2023	2022
Amounts falling due withinoneyear:		£	£
Otherdebtors		2,104	540
Prepaymentsandaccruedincome		1,180	1,180
		3,284	1,720
Creditors: amounts falling due withinoneyear
		2023	2022
	Notes	£	£
Other taxationand social security		-	2,212
Deferredincome Othercreditors Accrualsanddeferredincome	11	130,042 4,550 5,352	204,353 4,340 5,140
		139,944	216,045

10 Creditors: amounts falling due within one year

PAN INTERCULTURAL ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) FN O RTESTHE TO YEAR THE ENDEDFINANCIAL31 MARCH STATEMENTS 2023 (CONTINUED)

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11 Deferred income

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|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Other deferred income|130,042|204,353| |Deferred|income|is included|in the|financial|statements as|follows:| |2023|2022| |£|£| |_|[Deferred]|[income]|[is]|[included]|[within:]| |Current|liabilities|130,042|204,353| |Movements|in|the year:|:| |Deferred income at|1|April 2022|204,353|256,09]| |Released from|previous periods|(204,353)|(256,091)| |Resources deferred|in the year|130,042|204,353| |Deferred income at|31|March|2023|130,042|204,353|

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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.

7 ; .

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PAN INTERCULTURAL ARTS LIMITED '
(A COMPANY LIMITED BY GUARANTEE)
f
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) tp se
daeFOR THE YEAR ENDED 31 MARCH 2023 FoR soci
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13° Operating lease commitments
At the reporting end date the charity had outstanding commitments for future minimum lease
Payments under non-cancellable operaling leases, which fall due as follows:
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2023 2022
z £
9,450 9,450
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Within one year
14 Related party transactions
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15 There were no disclosable related party transactions during the year (2022 - none). Legal Status The company is limited by guarantee and has no share capital. The extent of each member's exceeding £}. liability, should the charity be unable to continue as q going concer, is limited to an amount not