## **Charity Number: 1130154** ## **THE LONDON MERIT ASSOCIATION** **Reports and Accounts For The Year Ended 30 APRIL 2021** ## **THE LONDON MERIT ASSOCIATION** |Index|Page| |---|---| |Charity Information|1| |Trustee's Report|2-3| |Accountant's Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Accounts|7-12| ## **THE LONDON MERIT ASSOCIATION** ## **Company Information** Trustees MR MUSA KARABAY (CHAIRMAN) MR SEVKI YUKSEKKAYA (SECRETARY) MR ENVER GUNDOGDU (TREASURER) MR ISMAIL SIK MR CIHAT YILDIZ MR KENAN BOYRAZ Charity Number 1130154 Registered Office 4 Centre Way Claverings Industrial Estate Enfield, London N9 0AP Bankers BARCLAYS BANK 20 The Town Enfield EN2 6LY Accountant MR ILKAY OZTURK 17 Elmcroft Avenue Edmonton London N9 7DR Page 1 ## **THE LONDON MERIT ASSOCIATION** ## **TRUSTEES' ANNUAL REPORT For the period ended 30 April 21** The trustees present their annual report and financial statements for the year ended 30 APRIL 21 THE LONDON MERIT ASSOCIATION is constituted by Deed of Trust and is registered charity No: 1130154 in England and Wales. The principle address is at 4 Centre Way, Enfield, London, N9 0AP. The trustees of the charity during the year ended 30 April 2021 were: MR MUSA KARABAY (CHAIRMAN) MR SEVKI YUKSEKKAYA (SECRETARY) MR ENVER GUNDOGDU (TREASURER) MR ISMAIL SIK MR CIHAT YILDIZ MR KENAN BOYRAZ ## **Trustees' responsibility in relation to the financial statements** The charity's trustees are responsible for preparing the Annual Report and financial statements in with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires trustees to prepare financial statements for each financial year. The financial statements are required by law to give a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies that are reasonable and prudent; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements. - prepare the financial statements on the going conern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with Charities Act 2011. 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. Page 2 ## ## ## ## ## **THE LONDON MERIT ASSOCIATION** ## **INDEPENDENT EXAMINER'S REPORT TO TRUSTEES OF THE CHARITY ABOVE** I report on the accounts of the trust for the year ended 30 April 2021, which are set out on pages 5 to 12. ## **Respective responsibilities of trustees and examiner** The charity's trustees consider that an audit is not required for this year (under section 145(1) of the Charities Act 2011 (the Act)) and that an independent examination is needed. It is my responsibility to: - examine the accounts (under section 145 of the Act); - to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act) and - to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried in accordance with General Directions given by the Charity Commissioners 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 unusal items or disclosures in the accounts, and seeking explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **Independent examiner's statement** In the course of my examination, no matter has come to my attention (1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: - proper accounting records are kept (in accordance with section 133 of the Act); and - accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **MR ILKAY OZTURK** 17 Elmcroft Avenue London N9 7DR 12 March 2023 Page 4 ## **THE LONDON MERIT ASSOCIATION** ## **Statement of Financial Activities** ## **For the period ended 30 April 21** |Notes
**Incoming Resources**
Donation Received
Grants Received
Fund Raising
Other Income
**Total Incoming Resources**
2
**Resources Expended**
**Direct Charitable**
**Expenditure**
**Other Expenditures**
Fundraising & Publicity
Management & Administration
**Total Resources Expended**
3
**Net Incoming/(Outgoing) Resources**
4
**Funds Balances**
Brought Forward at 31.03.2020
Carried Forward at 30.04.2021|2021
2020
£
£
290019
204949
78360
30000
11742
10771
6875
3626
386996
249345
137642
44605
194
232
204401
178489
342237
223326
44758
26020
150968
124949
195726
150968| |---|---| Notes: There are no recognized gains or losses other than the net movement in funds. All amounts above relate to continuing activities. The notes on page 8 to 12 form part of these accounts. Page 5 ## **THE LONDON MERIT ASSOCIATION** ## **Statement of Financial Activities For the period ended 30 April 21** ||Notes|2021|2020| |---|---|---|---| |||£|£| |**Fixed Assets**|||| |Tangible Assets|5|122679|117262| |||122679|117262| |**Current Assets**|||| |Stock|6|0|0| |Debtors|7|6750|6750| |Cash at bank and in hand||75647|36306| |||82397|43056| |**Creditors:**amounts falling due|||| |within one year|8|(9350)|(9350)| |**Net Current Assets/(Liabilities)**||73047|33706| |**Total Assets Less Current Liabilities**||195726|150968| |**Funds**|||| |Unrestricted funds||195726|150968| Page 6 ## **THE LONDON MERIT ASSOCIATION** ## **Notes to the Accounts** ## **For the period ended 30 April 21** ## 1. **Accounting Poicies** The accounts have been prepared under the historical cost convension in accordance with applicable accounting standards and statement of recommended practice, Accounting by charities. ## **Incoming Resources** Material incoming resources are identified on receivable basis. ## **Cashflow** The accounts do not include a cash flow statement because the company as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting standard 1 Cash flow statements. ## **Outgoing Resources** Expenses are recorded on an accruals basis. The director allocates the expenses of the charity between direct charitable expenditure and management and adminstration. ## **Tangible Fixed Assets** Depreciation is provided at the following rates in order to write off each asset over its estimated useful life: Leasehold Property - 2% per annum reducing balance Fixtures & Fittings - 25% per annum straight line Motor Vehicles - 25% per annum reducing balance Page 7 ## **THE LONDON MERIT ASSOCIATION** ## **Notes to the Accounts** ## **For the period ended 30 April 21** |2.
**Incoming Resources**
Aqiqah
Bi-weekly Food fair
Calendar-Books
Collection on Special days and nights
Other Income
Donations
Fitra
Food Fair Income
Friday Prayer Donation
Friday Social Gathering(lahmacun)
Fundraising Mini Donation Boxes
Gift Aid
Grants
Hall / Salon
Iftar & Sahuur
Marriage Ceremony Fee
Membership Fees
Quarterly Street food
Ramazan Donations
Recitation Mawlid
Referral fee and tours
Sadaqa
Sadaqah Qurbani
Saturday Breakfast Club
Student Tuition Fees
Tuck Shop
Wajib Qurbani
Zekat|2021
2020
£
£
0
360
3664
1239
912
1479
0
4298
6875
3626
76019
21188
0
1130
1190
0
20106
19834
972
4317
11742
10771
2318
0
78360
30000
910
0
25920
38375
0
0
15377
13058
0
10034
32178
0
0
1055
0
50
0
15429
26476
18390
0
1038
10820
35886
8053
2213
65105
6315
0
9262
386996
249345| |---|---| The total incoming resources are all from unrestricted funds. Page 8 ## **THE LONDON MERIT ASSOCIATION** ## **Notes to the Accounts** **For the period ended 30 April 21** |3.
**Outgoing Resources**
**Direct Charitable Expenditure**
Travel and Subsistence
Motor Expenses
Kitchen Expenses
Street Food Fair Expenses
Student Expenses
Book Expenses
Qurbani Expenses
Conference and Meeting Expenses
**Fundraising and Publicity**
Fund Raising Expenses
Advertising and PR
**Other Expenditure**
**Management & Administration**
Wages and Salaries
Freelance Tutorials
Staff Training and Welfare
Rent
Rates
Service Charges
Water & Rates
Insurance
Utilities
Repairs and Maintenance
IT Maintenance
Cleaning
Telephone Expenses
Printing, Postage & Stationery
Accountancy
Consultancy Fees
Depreciation
Sundry
Small Equipment
Bank Charges|2021
£
133
20
12480
11381
3460
0
100168
10000
137642
0
194
194
105381
0
82
55000
5156
0
0
1299
11493
1887
0
388
612
8397
500
0
5440
7433
118
1217
204401|2020
£
0
2587
7123
15065
4389
4785
0
10655| |---|---|---| |||44605| |||180
52| |||232| |||67751
900
578
60000
6048
1510
0
814
11392
851
2000
768
434
3491
900
3000
6288
10675
30
1058| |||178489| Page 9 ## **THE LONDON MERIT ASSOCIATION** ## **Notes to the Accounts** ## **For the period ended 30 April 21** |4.
**Net (Outgoing) Resources**
Depreciation
Accountancy
Emoluments of employees
5.
**Tangible Fixed Assets**
**Leasehold**
**Property**
£
**Cost**
At 31.03.2020
127728
Additions
10000
Disposals
0
At 30.04.2021
137728
**Depreciation**
At 31.03.2020
13709
Charged for the period
2374
Disposals
0
At 30.04.2021
16083
**Net Book Value**
At 30.04.2021
121645
At 31.03.2020
114020
6.
**Net (Outgoing) Resources**
Stock|2021
£
5440
500
105381
**Furniture**
**Fixtures &**
**Fittings**
£
33936
857
0
34793
30694
3065
0
33759
1034
3242
2021
£
0
0|2020
£
6288
900
67751
**Motor**
**Vehicles**
£
0
0
0
0
0
0
0
0
0
0
2020
£
0
0|**TOTAL**
161664
10857
0| |---|---|---|---| ||||172521| ||||44402
5440
0| ||||49842| ||||122679| ||||117262| ||||| Page 10 ## **THE LONDON MERIT ASSOCIATION** ## **Notes to the Accounts** ## **For the period ended 30 April 21** |7.
**Debtors**
Trade Debtors
Prepayments
Other Debtors
8.
**Creditors:**amounts falling due
within one year
Trade Creditors
Salaries
Taxation and social security
Other Creditors
Accruals|2021
£
0
0
6750
6750
2021
£
0
0
0
0
9350
9350|2020
£
0
0
6750| |---|---|---| |||6750| |||2020
£
0
0
0
0
9350| |||9350| Page 11 ## **THE LONDON MERIT ASSOCIATION** ## **Notes to the Accounts** ## **For the period ended 30 April 21** |9.
**Funds**
Net (outgoing) / income resources
before transfers and investment gains
**Transfers:**
Transfers in respect of fixed assets
additions
Closing Balance at 30 April 2021
**Represented by:**
Fixed Assets
Net Current Assets|Unrestricted
Restricted
Total
Funds
Funds
2021
£
£
£
150968
0
150968
44758
44758
0
0
0
195726
0
195726
122679
0
122679
73047
0
73047
195726
0
195726|Total
2020
£
124949
26020
0| |---|---|---| |||150968| |||117262
33706| |||150968| ## 10. **TRUSTEES'S RENUMERATION AND EXPENSES** No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them. Page 12