DAY-MER (Private Company Limited by Guarantee)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
COMPANY REG NO. 02626306
CHARITY NO. 1034621
DAY-MER (Private Company Limited by Guarantee) Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2-3 |
| Reporting accountant's report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Accounting policies | 7-8 |
| Notes forming part of the financial statements | 9-12 |
| Detailed income & expenditure account | 13 |
Page 13 does not form part of the statutory accounts.
DAY-MER (Private Company Limited by Guarantee) Legal and Administrative Information
| Trustees and directors | A Sezgin - Chair |
|---|---|
| S Ari - Treasurer | |
| H Olmez | |
| A Kaya | |
| F Cinpolat | |
| V Yadirgi | |
| O Sahbaz | |
| Company Secretary | O Sahbaz |
| Key management & personnel | O Dil |
| Administration office address | Former Library |
| Howard Road | |
| Stoke Newington | |
| London N16 8PU | |
| Registered office address | Former Library |
| Howard Road | |
| Stoke Newington | |
| London N16 8PU | |
| Charity registration no.: | 1034621 |
| Company registration no.: | 02626306 (England & Wales) |
| Reporting accountants | TKG Partnership Ltd |
| Chartered Accountants | |
| 3 Gateway Mews | |
| Ringway, Bounds Green | |
| London | |
| N11 2UT |
Page 1
DAY-MER
(Private Company Limited by Guarantee) Directors' & Trustees' Report for the Year Ended 31 March 2021
The trustees are pleased to present their annual trustees' report for the year ended 31 March 2021 which is also prepared to meet the requirements for a directors report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS102).
Structure, Governance and Management
Governing Document
Day-Mer is a company limited by guarantee and is a registered charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment & Appointment of Trustees
The trustees and directors who have served throughout the year are shown on page 1. Appointment of directors/trustees is governed by the Memorandum & Articles of Association.
New Trustees undergo training on their legal obligations as under Charity Law, the decision making process, the business plan and recent performance of the charity.
Organisational Structure
The charity is organized so that the trustees meet regularly to manage its affairs. The Charity Administrator manages the day to day administration of the charity and reports to the Trustees at monthly Trustee meetings.
Risk Management
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at the current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.
The trustees also review non-financial risks and these risks are managed by ensuring compliance with all health and safety regulations for clients, staff and volunteers.
Related parties
None of the trustees receive remuneration or other benefit in their capacity as trustees of the charity. Any connection between a trustee of the charity and organisations providing services to the charity must be disclosed to the full board of trustees in the same way as any contractual relationship with a related party. In the current year no such related party transactions were reported.
Pay policy for senior staff
The directors consider that the board of directors, Charity's trustees, and senior management team comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity on a day to day basis.
Purpose and objectives
The charity's objects and its principal activities are the provision of educational, social and welfare services for the benefit of the Turkish and Kurdish speaking community living in the United Kingdom.
Page 2
DAY-MER (Private Company Limited by Guarantee) Directors' & Trustees' Report for the Year Ended 31 March 2021 (Continued)
Financial review
Total income for the year amounted to £167,566 with total expenditure amounting to £137,708 leaving a surplus in the year of £29,858.
Accumulated reserves at the balance sheet date amounted to £43,788, of which £40,267 represent income reserves.
Reserves policy and going concern
The Trustees have undertaken a review of the charity's requirements for reserves in light of the main risks to the organisation. During the year under review the charity had a surplus of £29,758 and accumulated reserves at the balance sheet date of £43,788. At the balance sheet date deferred grants amounted to £98,972, relating to grants received but carried forward to 2021/22 as planned and due to delays caused by the Covid-19 Pandemic.
Plans for future periods
The Trustees are actively looking to expand the services offered and are looking to increase the number of projects with additional funding.
Trustees responsibilities in relation to the financial statements
The charity trustees (who are also directors of the Company for the purposes of company law) are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors and trustees
The trustees who are directors for the purpose of company law who have served during the year and up to the date of this report are set out on page 1.
By order of the board of trustees
…………………………………………………………………
A Sezgin
Trustee & Company Director 19 January 2022
Page 3
Day-Mer (Private Company Limited by Guarantee) Independent Examiner's report on the accounts for the year ended 31 March 2021
I report to the trustees on my examination of the accounts of the Day-Mer ('the charity) for the year ended 31 March 2021, which are set out on pages 5 to 12.
Respective responsibilities of trustees and examiner
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is required.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section145(5)(b)) of the Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trusteesconcerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to beelieve, that in any material respect:
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the accoun�ng records were not kept in accordance with sec�on 130 of the Chari�es Act; or
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the accounts did not accord with the accoun�ng records; or
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the accounts did 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.
Chrysostomos Kyprianou TKG Partnership Ltd Chartered Accountants
3 Gateway Mews Ringway London N11 2UT
19 January 2022
Page 4
DAY-MER (Private Company Limited by Guarantee) Statement of financial activities for the year ended 31 March 2021
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Unrestricted/
Restricted Designated Total Total
Notes Funds Funds 2020/21 2019/20
£ £ £ £
Income:
Donations and restricted grants 3 153,808 153,808 46,002
Income from other charitable activities
Fundraising & other income 4 - 13,758 13,758 47,161
Total income 153,808 13,758 167,566 93,163
Expenditure
Expenditure on charitable activities:
Direct Charitable expenditure 5 130,812 3,245 134,057 63,667
- - -
Fundraising costs 16,403
Management and administration 6 3,651 - 3,651 1,335
Total expenditure 134,463 3,245 137,708 81,405
Net income/(expenditure) and net movements
in funds before gains and losses on investments
7 19,345 10,513 29,858 11,758
Inter-fund transfer (3,521) 3,521 - -
-
Total funds brought forward 13,930 13,930 2,172
Total funds carried forward 15,824 27,964 43,788 13,930
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The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
Page 5
DAY-MER (Private Company Limited by Guarantee) BALANCE SHEET AS AT 31 MARCH 2021
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Notes 2020/21 2019/20
£ £ £ £
Fixed Assets
Tangible fixed assets 13 3,521 -
Total fixed assets 3,521 -
Current Assets
Cash at bank and in hand 147,493 24,395
Total current assets 147,493 24,395
Creditors: amounts falling due
within one year 14 (107,226) (10,465)
Net current assets 40,267 13,930
NET ASSETS 43,788 13,930
The funds of the Charity:
Unrestricted & Restricted income funds: 15 43,788 13,930
TOTAL CHARITY FUNDS 43,788 13,930
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The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the trustees/directors on 19 January 2022 and signed on its behalf
………………………………………………………………… S Ari Trustee & Company Director
Page 6
DAY-MER (Private Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of financial statements are as follows
Basis of Preparation
The Financial statements have been prepared in accordance with Accounting and Reporting of charities : SORP applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective date 1 January 2015) - Charities SORP (FRS 102), the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Day-Mer Ltd meets the definition of Charity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy (notes).
Reconciliation with previous GAAP
In preparing the accounts the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102, the reinstatement of comparative item was required.
At the date of transition no other restatements were required.
Incoming resources
Income (including income from government and other grants) is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Interest and investment income receivable
Interest on funds held on deposit and income from investments held is included when receivable and the amount can be measured reliable by the charity.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside for a specific purpose. Restricted funds are donations or grants which the donor has specified are to be solely used for a particular purpose or area of the Trust's work or projects being undertaken by the Trust.
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following headings:
-cost of raising funds comprise the cost of commercial trading
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expenditure on charitable activities includes the cost of operating the community centre and outreach services
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management and administration includes support costs for those functions that assist the work of the charity
Irrecoverable VAT is charged as a cost against the activity for which the expenditure has been incurred.
Taxation
As a grant aided charity with charitable status the charity's activities do not create a charge to corporation tax.
Operating leases
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets for use by the charity are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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office equipment - 25% straight line basis
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property improvements - 25% straight line basis
Page 7
DAY-MER (Private Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of less than three months from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Financial instruments
The trust has only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. The charity does not acquire put options, derivatives or other complex financial instruments and does not therefore face any financial risk.
Pensions
The Trust operates a defined contribution pension scheme.
Page 8
DAY-MER (Private Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2021
1 Legal status of the Trust
The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
| 2 Financial performance of the charity Income Expenditure on charitable activities Expenditure on fundraising Expenditure on management and administration Net income Total funds brought forward Total funds carried forward Represented by: Restricted funds - grant reserve Unrestricted funds - designated Unrestricted funds - general 3 Income from Donations, Grants & Income Generation Grants received in year Jack Petchey Foundation Arts Council England - Culture Recovery Fund East End Community Foundation L B Hackney - VCS Advice Grant L B Hackney - Discretionary Grant Fund L B Hackney - Connecting Young Hackney L B Hackney - Youth Opportunity Fund L B Hackney - Holiday Playscheme Garfield Weston Foundation City Bridge Trust - Bridging Divides Workers Education Association Covid-19 Funding & Support Charities Aid Foundation - Resilience Fund Hackney CVS - Covid-19 Information Grants Hackney CVS - Covid-19 Response Fund: CCG Crisis & Recovery Funds Hackney CVS - Hackney Giving Coronavirus Response Grants Community Fund - Covid-19 Community Support Fund Power to Change - Covid-19 Community Led Organisations Recovery Scheme London Community Respond Fund - Wave 3 Add:Grants deferred b/fwd City Bridge Trust - Bridging Divides (Note 14) Less: Deferred Grants in Year (Note 14) Arts Council England - Culture Recovery Fund City Bridge Trust - Bridging Divides L B Hackney - Youth Opportunity Fund L B Hackney - VCS Advice Grant Covid-19 Funding & Support 4 Income from other charitable activities Donations and fundraising CJRS Receipts |
2020/21 £ 167,566 134,057 - 3,651 137,708 29,858 13,930 43,788 15,824 3,521 24,443 43,788 1,500 46,553 4,000 20,220 5,000 5,000 6,500 7,954 - 36,900 725 18,860 5,933 10,000 3,000 22,934 23,957 30,701 249,737 3,043 252,780 (10,843) (3,107) (5,000) (5,055) (74,967) 153,808 10,513 3,245 13,758 |
2019/20 £ 93,163 63,667 16,403 1,335 81,405 11,758 2,172 13,930 - - 13,930 13,930 2,250 - - 18,535 - - - - 10,000 18,260 - - - - - - - - 49,045 - 49,045 - (3,043) - - - 46,002 47,161 - 47,161 |
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Page 9
DAY-MER (Private Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2021
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2020/21 2019/20
£ £
5 Analysis of expenditure on charitable activities
Staff costs 107,428 38,251
Other running costs 26,629 25,416
134,057 63,667
6 Analysis of governance and support cost
Accountancy 3,015 1,200
Other legal & professional 536 -
Other 100 135
3,651 1,335
7 Net income /(expenditure) for the year
This is stated after charging:
Depreciation -owned assets 1,174 435
Reporting accountants remuneration 1,200 600
Reporting accountants remuneration for other services 1,815 600
8 Analyses of staff costs, trustee remuneration and expenses, and the cost of key
management personnel
Wages and salaries 98,773 37,733
Pension costs 1,624 518
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Employers national insurance 2,681
103,078 38,251
The average number of staff employed during the year
were as follows:
Direct charitable 6 3
6 3
The number of employees whose emoluments as defined for taxation purposes
amounted to over £60,000 in the year were as follows: - -
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9 Trustees' remuneration
The trustees were not paid or received any other benefits from the Charity during the year in their capacity as trustees.
10 Related party transactions
There were no related party transactions to be disclosed during the year under review.
11 Government Grants
Income from grants comprises of grant funding made available by funding authorities and private entities to fund specific projects undertaken by the Charity. See note 4 for more information and to the amount and sources of these grants.
12 Corporation Tax
The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Page 10
DAY-MER (Private Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2021
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Property Office Equipment
Improvements Total
13 Tangible fixed assets £ £ £
Cost:
At 1 April 2020 80,697 128,090 208,787
Additions - 4,695 4,695
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Disposals / write offs (128,090) (128,090)
At 31 March 2021 80,697 4,695 85,392
Depreciation
At 1 April 2020 80,697 128,090 208,787
Charge in year - 1,174 1,174
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Disposals / write offs (128,090) (128,090)
At 31 March 2021 80,697 1,174 81,871
Net book value
At 31 March 2021 - 3,521 3,521
At 31 March 2020 - - -
14 Creditors 2020/21 2019/20
Amounts falling due within one year:
Deferred income 98,972 3,043
Other taxation & social security 3,234 691
Other creditors & accruals 5,020 6,731
107,226 10,465
Deferred income
City Bridge Trust - Bridging Divides 3,107 3,043
Arts Council England - Cultural
recovery Fund 10,843 -
Deferred income 13,950 3,043
15 Analysis of charitable funds 2020/21
As at 1st As at 31st
April 2020 Income Expenditure Transfers March 2021
Restricted reserves:
Projects:
Jack Petchey Foundation - 1,500 (1,500) - -
L B Hackney - VCS Advice Grant - 15,165 (15,165) - -
Arts Council England - 35,710 (35,710) - -
City Bridge Trust - Bridging Divides - 36,836 (36,836) - -
East End Community Foundation - 4,000 (4,000) - -
Discretionary Grant Fund - 5,000 - - 5,000
Connecting Young Hackney - 5,000 (5,000) - -
Youth Opportunity Fund - 1,500 (1,500) - -
Holiday Playscheme - 7,954 (7,954) - -
Workers Educational Foundation - 725 - - 725
Covid-19 Funding & Support - see note
3 for breakdown - 40,418 (26,798) (3,521) 10,099
Carried forward to page 13 - 153,808 (134,463) (3,521) 15,824
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Page 11
DAY-MER (Private Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2021
15 Analysis of charitable funds (continued)
| Restricted Reserves: Brought forward - previous page Unrestricted Reserves Designated Funds - Functional Fixed Assets General reserves Restricted reserves: Jack Petchey Foundation L B Hackney - VCS Advice Grant Garfield Weston Foundation City Bridge Trust - Bridging Divides Unrestricted funds: Designated funds - Functional fixed assets General reserve 16 Analysis between fund balances Tangible fixed assets Cash at bank and in hand Other net current assets/ (liabilities) Tangible fixed assets Cash at bank and in hand Other net current assets/ (liabilities) 17 Other financial commitments Falling due within 2 to 5 years |
- - 13,930 13,930 - - - - - 435 1,737 2,172 As at 1st April 19 As at 1st April 2020 |
Income 153,808 - 13,758 167,566 Income 2,250 18,535 10,000 15,217 46,002 - 47,161 93,163 Land and buildings 2021 10,000 |
Expenditure Transfer (134,463) (3,521) - 3,521 (3,245) - (137,708) - Expenditure Transfer (2,250) - (18,535) - (10,000) - (15,217) - (46,002) - (435) - (34,968) - (81,405) - Restricted Unrestricted £ £ - 3,521 - 147,493 - (107,226) - 43,788 Restricted Unrestricted £ £ - - - 24,395 - (10,465) - 13,930 Land and buildings Other 2020 2021 10,000 - 31 March 2020 31 March 2021 2019/20 2020/21 |
15,824 3,521 24,443 43,788 - - - - - - 13,930 13,930 Total £ 3,521 147,493 (107,226) 43,788 Total £ - 24,395 (10,465) 13,930 Other 2020 - As at 31st March 20 As at 31st March 2021 |
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