DAY-MER (Private Company Limited by Guarantee)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 |
|---|---|
| A Kaya | |
| M Gul | |
| C K Sagir | |
| E Karabulut | |
| A Duman | |
| Company Secretary | C Canbolat |
| 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 2023
The trustees are pleased to present their annual trustees' report for the year ended 31 March 2023 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.
Financial review
Total income for the year amounted to £267,010 with total expenditure amounting to £298,339 leaving a deficit in the year of £31,329.
Accumulated reserves at the balance sheet date amounted to £60,746, of which £57,334 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, and consider the results for the year 2022/23 to have been satisfactory. Reserves at the balance sheet date are £60,746, of which all are unrestricted. Funding for next 12 months is anticipated to be in line with 2022/23 and this together with reserves held will be sufficient to ensure the charity continues it's activities at current levels.
Page 2
DAY-MER (Private Company Limited by Guarantee) Directors' & Trustees' Report for the Year Ended 31 March 2023 (Continued)
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 29 December 2023
Page 3
DAY-MER INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF DAY-MER
I report to the Trustees on my examination of the accounts of DAY-MER (the charity), charity number 1034621, for the year ended 31 March 2023, which are set out on pages 5 to 12.
Respective responsibilities of trustees and examiner
The charity's Trustees are responsible for the preparation of the accounts in accordance with 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 needed.
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 section 145(5)(b) of the Act, and
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to follow the applicable directions given by the Charity Commission (under section 145(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 these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning 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 below.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
In connection with my examination, no material matters have come to my attention which gives me cause to believe, that in any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act 2011
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the accounts did not accord with the accounting records: or
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the accounts did not comply with the applicable requirements concerning the form and contents of accounts set 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 matter 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 Bounds Green London N11 2UT
29 December 2023
Page 4
DAY-MER (Private Company Limited by Guarantee) Statement of financial activities for the year ended 31 March 2023
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Unrestricted/
Restricted Designated Total Total
Notes Funds Funds 2022/23 2021/22
£ £ £ £
Income:
Donations and grants 3 137,713 32,852 170,565 324,320
Income from other charitable activities
Fundraising & other income 4 - 96,445 96,445 7,600
Total income 137,713 129,297 267,010 331,920
Expenditure
Expenditure on charitable activities:
Direct Charitable expenditure 5 186,168 108,592 294,760 280,213
- - - -
Fundraising costs
Management and administration 6 3,579 - 3,579 3,420
Total expenditure 189,747 108,592 298,339 283,633
Net income/(expenditure) and net movements
in funds before gains and losses on investments
7 (52,034) 20,705 (31,329) 48,287
Inter-fund transfer (2,293) 2,293 - -
Total funds brought forward 54,327 37,748 92,075 43,788
Total funds carried forward - 60,746 60,746 92,075
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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 2023
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Notes 2022/23 2021/22
£ £ £ £
Fixed Assets
Tangible fixed assets 13 3,412 5,705
Total fixed assets 3,412 5,705
Current Assets
Debtors 13 10,017 -
Cash at bank and in hand 64,980 123,651
Total current assets 74,997 123,651
Creditors: amounts falling due
within one year 14 (17,663) (37,281)
Net current assets 57,334 86,370
NET ASSETS 60,746 92,075
The funds of the Charity:
Unrestricted & Restricted income funds: 16 60,746 92,075
TOTAL CHARITY FUNDS 60,746 92,075
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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 29 December 2023 and signed on its behalf
………………………………………………………………… A Sezgin Trustee & Company Director
Page 6
DAY-MER (Private Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023
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).
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:
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-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 2023
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 2023
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 L B Hackney - VCS Advice Grant L B Hackney - VCS Small grants L B Hackney - VCS Cost of living grant L B Hackney - Small grants L B Hackney - Seldom Heard Consultation Report Hackney CVS - Earthquake Respond Fund City Bridge Trust - Bridging Divides Lloyds Bank Foundation London Community Respond Fund- Wave 5 London Training & Employment Network Postcode Society Trust Compass Wellbeing The Julia and Hans Rausing Trust - Youth Centre Recovery Fund Mind in the City - CHWF Pargiter Trust - Voice for Change 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 L B Hackney - Public Helath Hackney CVS - Hackney Giving Living with Covid Add:Grants deferred b/fwd City Bridge Trust - Bridging Divides Arts Council England - Culture Recovery Fund L B Hackney - VCS Advice Grant Lloyds Bank Foundation Postcode Society Trust Covid-19 Funding & Support Carried forward to next page |
2022/23 £ 267,010 294,760 - 3,579 298,339 (31,329) 92,075 60,746 - 3,412 57,334 60,746 2,700 - 26,129 9,925 6,000 - - 2,200 29,097 27,250 5,602 - 9,749 - 20,421 3,665 4,315 2,000 1,730 150,783 3,107 - 5,055 12,500 11,620 - 183,065 |
2021/22 £ 331,920 280,213 - 3,420 283,633 48,287 43,788 92,075 54,327 5,705 32,043 92,075 7,550 30,509 20,220 - - 4,975 306 - 37,720 25,000 47,840 11,702 19,919 - 19,871 - - - 13,843 13,185 - 4,990 257,630 3,107 10,843 5,055 5,000 - 74,967 356,602 |
|---|---|---|
Page 9
DAY-MER (Private Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2023
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2022/23 2021/22
£ £
3 Income from Donations, Grants & Income Generation (continued)
From previous page 183,065 356,602
Less: Deferred Grants in Year
- -
Arts Council England - Culture Recovery Fund
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City Bridge Trust - Bridging Divides (3,107)
-
L B Hackney - VCS Advice Grant (5,055)
Lloyds Bank Foundation (12,500) (12,500)
Postcode Society Trust - (11,620)
170,565 324,320
4 Income from other charitable activities
Donations and fundraising 40,864 7,600
Turkey Earthquake Support Fund 55,581 -
96,445 7,600
5 Analysis of expenditure on charitable activities
Staff costs 194,210 172,215
Other running costs 100,550 107,998
294,760 280,213
6 Analysis of governance and support cost
Accountancy 2,280 3,300
Other legal & professional 1,137
Other 162 120
3,579 3,420
7 Net income /(expenditure) for the year
This is stated after charging:
Depreciation -owned assets 2,293 2,293
Reporting accountants remuneration 1,200 1,200
Reporting accountants remuneration for other services 1,080 2,100
8 Analyses of staff costs, trustee remuneration and expenses, and the cost of key management
personnel
Wages and salaries 145,369 150,268
Pension costs 2,935 2,989
Employers national insurance 6,603 7,420
154,907 160,677
The average number of staff employed during the year
were as follows:
Direct charitable 8 9
8 9
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 2023
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Property Office Equipment
Improvements Total
13 Tangible fixed assets £ £ £
Cost:
At 1 April 2022 80,697 9,172 89,869
Additions - -
- - -
Disposals / write offs
At 31 March 2022 80,697 9,172 89,869
Depreciation
At 1 April 2022 80,697 3,467 84,164
Charge in year - 2,293 2,293
- - -
Disposals / write offs
At 31 March 2022 80,697 5,760 86,457
Net book value
At 31 March 2023 - 3,412 3,412
At 31 March 2022 - 5,705 5,705
14 Debtors: Due within one year 2022/23 2021/22
Accrued income 10,017 -
10,017 -
15 Creditors 2022/23 2021/22
Amounts falling due within one year:
Deferred income 12,500 32,282
Other taxation & social security 2,390 2,665
Other creditors & accruals 2,773 2,334
17,663 37,281
16 Analysis of charitable funds 2022/23
As at 1st As at 31st
April 2022 Income Expenditure Transfers March 2023
Restricted reserves:
Projects:
Jack Petchey Foundation - 2,700 (2,700) - -
L B Hackney - VCS Advice Grant - 31,184 (31,184) - -
City Bridge Trust - Bridging Divides - 32,204 (32,204) - -
Lloyds Bank Foundation 7,708 - (7,708) - -
Compass Wellbing - 9,749 (9,749) - -
Postcode Society Trust - 11,620 (11,620) - -
Mind in the City - CHWF - 20,421 (20,421) - -
Hackney CVS - Earthquake Response Fund - 2,200 (2,200)
Pargiter Trust - Voice for Change - 3,665 (3,665) - -
L B Hackney - Small Grants - 15,925 (15,925) - -
Covid-19 Funding & Support 46,619 8,045 (56,957) 2,293 -
54,327 137,713 (194,333) 2,293 -
Unrestricted Reserves
Designated Funds - Functional Fixed
Assets 5,705 - - (2,293) 3,412
Lloyds Bank Foundation - 27,250 (27,250) - -
London Training & Employment Network - 5,602 (5,602) - -
Turkey Earthquake Support Fund - 55,581 (21,162) - 34,419
General reserves 32,043 40,864 (49,992) - 22,915
92,075 267,010 (298,339) - 60,746
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Page 11
DAY-MER (Private Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2023
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2021/22
As at 1st April As at 31st
21 Income Expenditure Transfer March 22
Restricted reserves:
Jack Petchey Foundation - 7,550 (7,550) - -
Arts Council England - 41,352 (41,352) - -
L B Hackney - VCS Advice Grant - 20,220 (20,220) - -
L B Hackney Youth Opprtunity Fund - 5,000 (5,000) - -
City Bridge Trust - Bridging Divides - 37,720 (37,720) - -
Lloyds Bank Foundation - 12,500 (4,792) - 7,708
City of London - 47,840 (47,840)
Discretionary Grant Fund 5,000 - (5,000) - -
Postcode Society Trust - 8,229 (8,229) - -
Workers Educational Foundation 725 - (725) - -
The Julia Hans Rausing Trust - Youth Centre
Recovery Fund - 19,871 (19,871) - -
L B Hackney - Small Grants - 5,281 (5,281) - -
Covid-19 Funding & Support 10,099 106,985 (68,281) (2,184) 46,619
15,824 312,548 (271,861) (2,184) 54,327
Unrestricted funds:
Designated funds - Functional fixed assets 3,521 - - 2,184 5,705
General reserve 24,443 19,302 (11,702) - 32,043
43,788 331,850 (283,563) - 92,075
17 Analysis between fund balances 31 March 2023
Restricted Unrestricted Total
£ £ £
Tangible fixed assets - 3,412 3,412
Cash at bank and in hand - 64,980 64,980
-
Other net current assets/ (liabilities) (7,646) (7,646)
- 60,746 60,746
31 March 2022
Restricted Unrestricted Total
£ £ £
Tangible fixed assets - 5,705 5,705
Cash at bank and in hand - 123,651 123,651
-
Other net current assets/ (liabilities) (37,281) (37,281)
- 92,075 92,075
18 Other financial commitments
Land and Land and Other Other
buildings buildings
2023 2022 2023 2022
Falling due within 2 to 5 years 10,000 10,000 - -
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