COMPANY REGISTRATION NUMBER: 2930365 CHARITY REGISTRATION NUMBER: 1040944 Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 AM BUSINESS & ACCOUNTANCY SERVICES LTD Chartered accountants 6 Westmoreland Street Harrogate HG15AT
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statemer¢ts of the charity for the year ended 31 March 2025. Reference and administratlve details Registered charity name Halkevi: The Kurdish & Turkish Community Centre Charlty registratlon number 1040944 Company reglstratlon number 2930365 Prlncipal office and reglstered 31-33 Dalston Lane offlce Hackney London E8 3DF The trustee8 Miss E Sarican Mr A Sinayic Mr A Almeida Mr Y Ismailoglu Mrs O Awosokarne Company secretary Mr Y Ismaiolglu Independent examlner Asim Manzoor 6 Westmoreland Street Harrogate HG15AT
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2025 Structure, governance and management The charity is controlled by its governing document which continues to be its Memorandum and articles of association. Halkevi.. The Kurdish & Turkish Community Centre constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Halkevi.. The Kurdish & Turkish Community Centre is 8 membership based charity managed by a management committee (known as directors). The management committee comprises of up to 7 directors elected by member5 for one year and up to 0 directors co-opted by the elected directors. All must be members of Halkevi.. The Kurdish & Turkish Community Centre and receive no remuneration. Co-opted directors must stand for election at the AGM following their co-option or may be co-opted again for one further year. Directors can hold office for a maximum of 10 years from joining the management committee. The management committee usually meets every month. Much of the financial management is delegated by Ihe management committee and overall financial and managerial control is exercised by review of the monthly management data by the management committee. The trustees have given due consideration to the Charity commission published guidance on the operation of the public benefit requirements. Administralion The charity is registered with the Charity Commission of England & Wales (1040944) as Halkevi.. The Kurdish & Turkish Community Centre. The charity is registered and incorporated as a limited company, limited by guarantee (2930365). The registered office of the charity is 31-33 Dalston Lane, Hackney, London, E8 3DF. Fund Accounting Unrestricted funds can be used in accordance with charitable objectlves at the discretion of the trustees. Restricted funds Can only be used for the particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Restricted funds in Halkevi refer to grants that specify how the money should be spent. Risk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Going Concern In the trustees assessment of the charity's ability to continue its operations, there are no material uncertainties that may cast significant doubt about the charity's ability to continue as a going concern.
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (ntinued) Year ended 31 March 2025 Objectives and activities The principle objectives of the charity are set out in the Memorandum and articles of association and continue to be: -Provide educational support to Kurdish, Turkish & Cypriot Turkish pupils in North London and increase access to employment for our local community, and to provide community and business advice and seminars & Improve community safety, reducing crime and fear of crime by neOrkIng with local authorities,community safety units,drugs action groups, police and The London Mayors Office. Encourage active participation in local services & revitalising local democracy-Protect and improve the environment by actively participating in the local authority efforts-lmprove access to good quality general advice and immigration l asylum advice I health advice-consult with our community to shape objectives and services we provide Vision & Mission Halkevi.. The Kurdish & Turkish Community Centre's vision is to be a modern and democratic organisation, working with the Kurdish and Turkish speaking communities to meel their social and educational needs. To support this vision, the charity's mission is to improve the quality of health, social economic life, education, immigration and employment for Kurdish and Turkish speaking communities in the United Kingdom especially London. Halkevi will work independently and proactively to reduce inequalities in health, society, housing, education, welfare rights, employment opportunities and to ensure that Kurdish and Turkish Communities receive the type of services that are accessible and culturally appropriate to their needs. Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity. Achievements and performance -Lunch club feeding hundreds throughout the year -community integration and support services -Language services -community space for everyone to use
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 March 2025 Financial review The year ending 31 March 2025 generated a surplus of £20,493. In the prior year March 2024 there was a deficit of £3,655. Statement of Trustees responsibilities The trustees (who are also the directors of Halkevi: The Kurdish and Turkish Community Centre for the purposes of company lawl are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not apprO,e the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the statement of financial activities of the charitable company for that year. In preparing these financial statements, the trustees are required to: -select suitable accounting policies and apply them consistently., -observe the methods and principles in the Charity SORP., -make judgements and estimates that are reasonable and prudent: -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any time the rinancial position of the charitable company 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 charitable company and ensuring the asset5 are propedy applied in accordance with charity law and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: -there is not a requirement to obtain an audit -the trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant information and to establish that the charitable company's independent examiners are aware of that information. Independent Examiner AM & Company will be proposed for re-appointment at the forthcoming Annual General Meeting. This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and the Financial Reporting Stsndard IFRS102 Charity SORP) relating to charitable companies.
Halkevi: The Kurdish & Turkish Community Centre Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2025 The trustees, annual report and the strategic report were approved on on behalf of the board of trustees by.. and signed Ms E Sarcan Trustee Mr Y Ismailglu Charity Secrelary
Halkevl: The Kurdish & Turkish Community Centre Company Llmlted by Guarantee Independent Examlnerf8 Report to tho Trustees of Halkevi: The Kurdlsh & Turkish Community Centre Year ended 31 March 2025 I report lo the trusteas on my examlnation of th8 financial ststemonts of Halkevi: Th8 Kurdish & Turki8h Communlty Centre {'the charity,) for the yoar ond(4d 31 March 2025. Rosponslbllltl•s and basls of rnport As the Irustees of the company {and also its (lirectors for the purposos of company law) you are r8sponsible for the prep8ration of the financial statements in accordance wlth the requirements of the Compani8s Act 2006 ('the 2006 AGt'). Having satisfied myself that the 8ccounts of the company are not required to be audlted under Part 16 of the 2006 Act and are eligible for Independent &xamSnatlon, I report in raspecl of my examination of the charity's accounts as CArried out under sectlon 145 of the Charlties Act 2011 ('the 2011 Act,). In eArrylng out my examination I have followed thÉi Directions given by the Charity Commlssion under section 145151(b} of the 2011 Act. Independent gxamln•rfs ststgment I have Completed my examination. l Mnfirm that no matters hav8 come to my attention in connectlon with the examination gNing me cause to believe. accountlng records were not kept In r8spect of the charity as requiTBd by section 386 of the 2006 Act; or the financial statements do not accord with those r8cords,' or the financi81 st8tements do not mplY INith the accountlng requirements of sectbn 396 of the 2006 Act other than any requirement that Iha accounts give a 'true and fairf view vhlch is not a matter considered as part of an Independent examination; or the financial ststements h8ve not been prepared in arxordance wlth the methods and principles of the Statement of RecorThmended Practice for accounting and reporting by charities applicable to charities preparing their ac£ounts In accordance wth the Financi81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. I have no concems and have come across no thar mattars In connectlon the examination to which attention should be drawn in thls report in or tci enable a proper understanding of the accounts to b8 reached. Asim Manzoor Independent Examiner 6 Westmoreland Street HaOgate HG1 SAT
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Unrestricted funds Total funds 2024 Total funds Note Income and endowments Donations and legacies Charitable activities Investment income 25,089 144,753 48 25,089 144,753 48 18,430 95,704 Total income 169,890 169,890 114,140 Expenditure Expenditure on charitable activities Total expenditure 149,397 149,397 117,795 149,397 149,397 117,795 Net incomel{expenditure) and net movement in funds 20,493 20,493 (3,6551 Reconciliation of funds Total funds brought foward Totsl funds carried forward 128,243 128,243 131,898 148,736 148,736 128,243 The statement of fsnancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 17 form part of these financial statements.
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Flxed assets Tangible fixed assets 14 385,398 397,821 Current assets Cash at bank and in hand 5,650 2,834 Credltors: amounts falling due within one year Net current liabilities 15 49,449 43,799 341,599 51,025 48,191 Total assets less current Ilabllities 349,630 Creditor5: amounts falling due after more than one year Net assets 16 192,863 221,387 148,736 128,243 Funds of the charity Unrestricted funds 148,736 128,243 Total charity funds 19 148,736 128,243 For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in queslion in accordance with section 476., The directors acknowledge their responsibilitie5 for complying with the requirements ofthe Actwith respect to acLounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 15 May 2024. and are signed on behalf of the board by: Mr Y Ismailglu Charity Secretary Ms E Sarcan Trustee The notes on pages 9 to 17 form part of these financial statements.
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General inforniation The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 31-33 Dalston Lane, Hackney, London, E8 3DF. statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP IFRS 1021) and the Companies Act 2006. Accounting pollcies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial stalements are prepared in sterling, which is the functional currency of the entily. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptlons The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 (Charity SORP). As a result the entity does not need to provide a cash flow statement and supporting notes. (a) No cash flow statement has been presented for the company. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes: restricted income funds or endowment funds.
Halkevi: The Kurdish & Turkish Cornmunity Centre Company Limited by Guarantee Notes to the Financial Statements (eontlnued) Year ended 31 March 2025 Accounting policies (¢ontlnued) Incoming resources All incoming reSoUeS are included in the statement of financial activities when entitlement has passed to the charity,. it is probable thal the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. Income from donated goods Is measijred at the fair value of the goods unless this is Impractlcal to measure reliably, in which case the value is derived from Ihe cost to the donor or the estimated resale value. Donated facilities and services are recognised In the accounts when received if the value can ba rellably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it lo be spent on a particular purpose and returned if unspenl, in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of Ihe statement of financial activities to which it relates- expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sal& of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support COSts and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to Ihat activity- Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairmenl10sses. 10
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 Accounting policies fcontlnuedj Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the stalement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Long leasehold property Short leasehold property Fixtures and fittings Equipment Straightline of life of lease 40 years Straightline of life of lease 40 years 25 % reducing balance 250/0 reducing balance Impairment of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future perfomance-related conditions on the recipient. it is recognised in income when the granl proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. 11
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements (Gontinuedj Year ended 31 March 2025 Accounting policies (eontlnuod) Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instrumenls are initially recognised at the amount receivable or payable including any related transaction costs, Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All otlier such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Otherfinancial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of signifirance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaiment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset Ihal exceeds what the carrying amount would have been had the impaimient not previously been recognised. Llmlted by guarantee The Charitable Company is limited by guarantee of its members. 12
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements {contlnu•d) Year ended 31 March 2025 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 2,256 2,256 1,977 1,977 Grants Grants receivable Capital grant release 20,979 1,750 20,979 1,750 14,603 1,750 14,6Q3 1,750 Subscrlptlons Membership income 104 104 100 100 25,089 25,089 18,430 18,430 Charltable actlvltlos Unrestricted Total Funds Unrestricted Tolal Funds Funds 2025 Funds 2024 Investment Rental income Olher Room & hall hire 33,715 53,246 57,792 33,715 53,246 57,792 32,609 22,314 40,781 32,609 22,314 40,781 144,753 144.753 95,704 95,704 Investment incom• Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interesi 48 48 Expenditure on charltable activities by fund type Unrestricted Total Funds Unreslricted Total Fund5 Funds 2025 Funds 2024 Running of community centre Support costs 125,091 24,306 125,091 24,306 97,377 20.418 97,377 20,418 149,397 149,397 117,795 117,795 13
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Expenditure on charitable activitles by activlty type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Running of community centre Governance costs 125,091 125,091 24,306 97,377 20,418 24,306 125,091 24,306 149.397 117,795 10. Net Incomel(expenditure) Net incomel(expenditure) is stated after chargingl{crediting): 2025 2024 Depreciation of tangible fixed assets 15,110 14,119 11. Independent examination fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements Other financial services 900 900 900 900 1,800 1,800 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 2024 Wages and salaries 19,346 19,749 The average head COLJnt of employees during the year was Nil12024'. Nil). The average number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 No. Centre staff Management team No employee received employee benefit5 of more than £60.000 during the year (2024: Nil). 13. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 14
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 14. Tangible fixed assets Long Short leasehold leasehold Fixtures and propety property fittings Equipment Totsl Cost At 1 April 2024 Additions 558,110 8,812 17,178 1,688 3.827 999 587,927 2,687 At 31 March 2025 558,110 8,812 18,866 4.826 590,614 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 167,076 13,953 2,494 368 17,178 422 3,358 367 190,106 15,110 181,029 2,862 17,600 3.725 205,216 Carrying amounl At 31 March 2025 377,081 5,950 1,266 1,101 469 385,398 397,821 At 31 March 2024 391,034 6,318 Short leasehold commences in April 11 and will depreciate over its lifetime of 40 years. The leasehold improvements were completed in July 2012 and are depreciated over the period of the lease. The Secretary of Health who has a flxed legal charge over the lease in security for amounts borrowed. Please see long term creditors. Within tangible fixed assels there is £70.000 of capital grant funding provided by Hackney council to extend and refurbish the community centre and has therefore been treated as r8Strict8d funding. Leasehold improvements consist of mix motive investment and is impractical for apportionment and is treated as fixed assets as per guidance on social investments per Charity SORP 2015. 15. Credltors: amounts falling due withln one year 2025 2024 Trade creditors Accruals and deferred income Social security and other taxes 1,799 47,250 400 1,801 49,000 224 49,449 51,025 16. Credltors: amounts falllng due after more Ihan one year 2025 2024 Bank loans and overdrafts 192,863 221,387 The Loan from SEIF comprises of a capital amount of £192.863 at the year end and interest accrued on the loan payable at the year-end for 31 March 2025 was £8,048 and for 31 March 2024 was £13.882 respectively. 15
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 17. Deferred income 2025 2024 At 1 April 2024 Amount released to income 49,000 (1,750) 47,250 50,750 (1,7501 49,000 At 31 March 2025 18. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2025 2024 Recognised in creditors.. Deferred government grants due within one year Recognised in income from donations and legacies.. Government grants income 49,000 50,750 1,750 1.750 19. Analysis of charltable funds Unrestrlcted funds Al 1 April 2024 At Income Expendlture 31 Mar 2025 General funds 128,243 169,890 (149,397) 148.736 At 1 April 2023 At Income Expenditure 31 Mar 2024 General funds 131,898 114,140 (117,795) 128,243 20. Charges on assets The charity has committed to refurbishing and extending to the community centre along 31-35 Dalston Lane commencing work in 2010. This expenditure was initially supported through small Interest free loans from friends of the community centre. Total spend wa5 £566,922 which was partly financed with a 19 year loan term of £365,230 with the Secretary of Health. As a result of this a fixed legal charge has been placed over the lease agreement with The London Borough of Hackney for the premises of 31-35 Dalston Lane until its repayment. 16
Halkevi: The Kurdish & Turkish Community Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 21. Other financial commitments The charity has committed to a short term lease on the 6 April 2011 been itself and The London Borough of Hackney for the premises of The Community Centre 31-33 Dalston Lane for a further 40 years. This lease will commence at an initial rent of £5,000 per annum and increasing by £5,000 thereafter every 5 years until April 2026. A long term loan agreement is in place wilh The Secretary of Health for £365,230 over a 19 year period at an initial interest rate of 6 % secured on the lease of the building. The total amount owed to the Secretary of Health is £192.863 at the year end. 22. Related parties There were no related parties transactions during course of year. 17