2020-11-30-accounts - London Saz School

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Company Number : 05290954 Charity Registration Number: 1113962

LONDON SAZ SCHOOL

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

HURKAN SAYMAN & CO. Chartered Accountant and Registered Auditors 291 Green Lanes, Palmers Green London N13 4XS

LONDON SAZ SCHOOL

Contents: Company Information Trustees Report Accountant’s Report Statement of Financial Activities Balance Sheet Notes to the Accounts	Page: 3 – 4 5– 6 7 8 9 10 –13

LONDAN SAZ SCHOOL

Company Information For the year ended 30 November 2020

Trustees	Zeynep Yener
	Huseyin Goreli
	Gonul Kizilkaya
	Hasan Yavuz
	Derya Saymaz
	Mehmet Demirci
	Emre Yilmaz
	Hayri Ergisi
	Mesut Ozcetinkaya
	Fahir Cetinkaya
Directors	Nese Ozgen
	Dilan Sarica
Secretary	Fidan Kilinc

LONDON SAZ SCHOOL

Company Information - Continued For the year ended 30 November 2020

Charity Registration Number 05290954 Company Number 1113962 Registered Office 24 Stoke Newington High Street London N16 7PL Accountant Hurkan Sayman & Co Chartered Accountant and Registered Auditors 291 Green Lanes Palmers Green London N13 4XS

LONDON SAZ SCHOOL

Trustees Report For the year ended 30 November 2020

The trustees present their report along with the financial statements of the charity for the period ended 30 November 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 1993 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2005.

Object of the Charity

The charity is a charitable company limited by guarantee and is independent and non-partisan and was set up on 18 November 2004. It is governed by a Memorandum and Articles of Association and its principal activity continues to be the advancement of public education.

Trustees and Directors

The Trustees and Directors who served during the year are listed on page 3.

None of the Trustees and Directors has any beneficial interest in the company. They are all members of the company and guarantee to contribute £1 in the event of a winding up.

Governance and Internal Control

Up to two trustees may be nominated by member organisations of London Saz School. Further trustees may be co-opted by the Trustee Committee. Directors, whose posts are honorary, are members of the Trustee Committee and are nominated and approved at the Annual general Meeting. The Trustees are responsible for the governance of the organisation.

Company and Charity Law require the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The accounts are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors and Trustees are required to:

➢ Selected suitable accountancy policies and then applied them consistently.
➢ Made judgments and estimates those are reasonable and prudent.
➢ Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
➢ Prepared the financial statements on the going concern basis.

The trustees have overall responsibility for ensuring that the charity has appropriate systems of control, financial and otherwise. They are also responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts 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 detection and prevention of fraud and other irregularities, and to provide reasonable assurance that:

➢ The charity is operating efficiently and effectively.
➢ Its assets are safeguarded against unauthorised use or disposition.
➢ Proper records are maintained and financial information used within the charity or for publication is reliable.
➢ The charity complies with relevant laws and regulations.

LONDON SAZ SCHOOL Trustees Report For the year ended 30 November 2020

-Continued

The systems of internal control are designed to provide reasonable, but not absolute assurance against material misstatement or loss. They include:

➢ A strategic plan and an annual budget approved by the Board & the Executive Committee.
➢ Regular consideration by the Board and The Executive Committee of financial results, variances from budget non-financial indicators and bench working reviews.
➢ Delegation of authority and segregation of duties.
➢ Identification and management of risks.

In addition, the Trustees will consider the guidance for directors of public listed companies contained within the Turnbull Report of 2000. Although this is not mandatory for the charity, it should as a public interest body, adopt the guidelines as best practice.

➢ Reserves Policy : Given the nature of activities, the low running costs of the charity, the Board and the Executive Committee do not consider it necessary to make a reserve provision.
➢ Risk factors : The Board and the Executive Committee have considered the strategic, business and operational risks to which the charity is exposed. In the light of their experience they are confident that grant flow will continue. They are satisfied that systems are in place to mitigate exposure to major risks.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Signed on behalf of the behalf of the board of Trustees on 1 March 2021.

Director

Dilan Sarica Fidan Kilinc Director Secretary

LONDON SAZ SCHOOL

Accountant’s Report to the Members on the unaudited Accounts of London Saz School

I report on the accounts for the year ended 30 November 2020 set out on pages 7 to 11.

Respective responsibilities of trustees and reporting accountants.

I n accordance with the engagement letter dated 15 October 2019, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the accounts of the company which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the Company’s Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the accounts that we have been engaged to compile, report to the Company’s Board of Directors that we have Dilan so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of accounts.

You have acknowledged on the balance sheet as at 30 November 2019 your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial ye ar. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the accounts.

Hurkan Sayman & Co Chartered Accountant and Registered Auditors 291 Green Lanes Palmers Green London N13 4XS

Date: 1 March 2021

LONDON SAZ SCHOOL Statement of Financial Activities For the year ended 30 November 2020


		2020	2019
	Notes	Total	Total
Incoming Resources
Donations		16250	34133
Non-Profitable Sale		25340	16000
Grants	3	66795	-

Total Incoming
Resources		108385	50133

Resources Expended
Venue Hire		32728	26250
Sessional Tutor Fees		23024	5714
Project Manager Fees		4200	0
Volunteer Expenses		790	0
Purchases for sales		16539	15898
Telephone & Internet		652	319
Insurance		488	488
Rates & Water		1064	2357
Repairs & Maintenanace		5212	0
Accountancy		300	150
Credit card machine expenses		628	645

Total Resources Expended		85625	51821

Net movement in funds		22760	(1,688)
Fund Balance at 01.12.19		2240	3928

Fund Balance at 30.11.20		25000	2240

Note:

The amounts shown above relate to continuing activities. There have been no recognised surpluses or deficits, other than the results of the financial year and they have been accounted for on an historical basis.

LONDON SAZ SCHOOL

BALANCE SHEET AS AT 30 NOVEMBER 2020

----- Start of picture text -----
Notes 2020 2019
£ £
CURRENT ASSETS
Cash at bank 25000 2240
25000 2240
Net Assets 25000 2240
Funds
Balance b/fwd 2240 3928
Profit and loss account 22760 (1,688)
25000 2240
----- End of picture text -----

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the member has not required the company to obtain an audit in accordance with section 476 of the Act.

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

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

The accounts were approved by the board on 1 March 2021 and signed on its behalf by:

Director

Dilan Sarica Director

Fidan Kilinc Secretary

LONDON SAZ SCHOOL

Notes to the Accounts For the year ended 30 November 2020

1 ACCOUNTING POLICIES

1.1 Basis of Preparation

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” published in March 2005 and applicable accounting standards.

1.2 Company Status

The charity is a company limited by guarantee. Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the assets of the company, if it should be wound up during membership, for the payment of the company’s debts and liabilities contracted before membership ceases, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.

1.3 Fund Accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

1.4 Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Grants received are included in the Statement of Financial Activities and highlighted as restricted income where the nature of the grant is for a specific purpose.

LONDON SAZ SCHOOL

Notes to the Accounts For the year ended 30 November 2020

-Continued

1.5 Resources Expended

All 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 on a basis consistent with the use of resources.

Management and administration costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

2. TRUSTEES

None of the trustees or directors received any remuneration or benefits from the charity during the year.

3. GRANTS

London Saz School received the following grants this year:

FOYLE FOUNDATION

£4000

Foyle Foundation’s grant enabled London Saz School to sustain its activities during a difficult pandemic period. The school was able to successfully deliver online music lessons to disadvantaged children and young people during the pandemic thanks to the funding provided by this grant programme.

HACKNEY GIVING

£2860

Hackney Giving’s grant also enabled London Saz School to sustain its activities during a difficult pandemic period. The school was able to successfully deliver music lessons to disadvantaged children and young people during the pandemic thanks to the funding provided by this grant programme.

YOUTH MUSIC EMERGENCY FUND

£8975

Youth Music provided London Saz School with crucial funding for its core costs during the pandemic.

YOUNG LONDONER FUND PARTNERSHIP WITH BALIK ARTS £10640

London Saz School worked together with Balik Arts on a project supported by the Mayor of London’s Young Londoner Fund and was able to successfully deliver music lessons, film production and apprenticeships for young people thanks to the funding provided by this fund.

THE NATIONAL LOTTERY COMMUNITY FUND DISTRIBUTED BY THE CITY BRIDGE TRUST THORUGH THE LONDON COMMUNITY RESPONSE FUND £15320

Funding from The National Lottery Community fund, distributed by City Bridge Trust through the London Community Response Fund, has helped us to provide music lessons for disadvantaged children and young people. Both families and children/young people are grateful as this project made huge impact on people’s mental and emotional wellbeing especially during these difficult times (Covid 19) for everyone. Thanks to National Lottery players for making this possible.

HACKNEY COUNCIL COVID-19 GRANT

£25,000

Funding from Hackney Council’s Covid-19 grant enabled London Saz School to continue operating in the challenging environment posed by the coronavirus pandemic.