## **THE LONDON MERIT ASSOCIATION**
## **Reports and Accounts**
**For The Year Ended 30 April 2023**
**Charity Number: 1130154**
Page 1
## **THE LONDON MERIT ASSOCIATION**
|Index|Page|
|---|---|
|Charity Information|3|
|Trustees’ Annual Report|4|
|Independent Examiner’s Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-11|
Page 2
## **Company Information**
Trustees Musa Karabay (Chairman) Sevki Yuksekkaya (Secretary) Enver Gundogdu (Treasurer) Ismail Sik Cihat Yildiz Kenan Boyraz Charity Number 1130154 Registered Office 4 Centre Way Claverings Industrial Estate Enfield, London N9 0AP
Page 3
## **Trustees’ Annual Report**
## **Objectives and Activities**
To further or benefit the residents of London and the neighbourhood without distinction of sex, sexual orientation, race or political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a joint effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation to improve the conditions of life for the residents.
In furtherance of these objects but not otherwise, the trustees shall have the power to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects.
## **Achievements and Performance**
The charity has continued to go from strength to strength in terms of community engagement and advancement of education.
We have started construction for our additional site after several years of planning. The progress has been significant to date, and we expect the site to be ready for a grand opening later in the year. The new site will enable us to serve the community even better and offer facilities that we couldn't possibly offer in our current site.
## **Financial Review**
Construction work has decreased our bank balance, but this has always been earmarked for this intention. We have held regular fundraising events to increase funds and will continue into the new financial year to ensure the charity is not financially burdened.
Overall, the charity is in a healthy financial position with £132,000 cash in the bank and hand.
## **The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
|**Signature(s)**
**Full name(s)**
**Date**
**Position (eg Secretary,**
**Chair, etc)**||||||
|---|---|---|---|---|---|
|||||||
|||Sevki Yuksekkaya (Feb 29 2024||Musa Karabay (Feb 29, 2024, 11:41am)
~~Musa Karabay~~
Chair
29 Feb 2024||
|||||||
|||, ,
11:37am)
~~Sevki Yuksekkaya~~||~~Musa Karabay~~||
|||||||
|||Secretary||Chair||
|||||||
|||29 Feb 2024||29 Feb 2024||
Page 4
## **Independent Examiner’s Report**
## **Responsibilities and basis of report**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30/04/2023.
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”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
•the accounting records were not kept in accordance with section 130 of the Charities Act; or
•the accounts did not accord with the accounting records; or
•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.
|**Signed:**
**Name:**
**Address:**
**Relevant professional**
**qualification(s) or body:**||28/02/2024|
|---|---|---|
||||
||KubilayOzpalas||
||||
||Association of Chartered Certified Accountants||
||||
||Unit 11,Angel Yard||
||34 Snells Park||
||London,N18 2FD||
Page 5
## **Statement of Financial Activities for the period 01/05/2022 - 30/04/2023**
The London Merit Association Charity No. 1130154
|**Expenditure**
**Expenditure on:**
**_Reconciliation of_**
**_funds:_**
**_Net movement in funds_**
Raising funds
Qurbani Income
Other
Other trading activities expenses
Donations and legacies
Charitable activities
Other trading activities
**_Total_**
**Recommended categories by activity**
**Income**
**Income and endowments from:**
Total funds brought forward
Charitable activities
Qurbani Expense
**_Total funds carried forward_**
**_Total_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|
|---|---|---|---|---|---|
||180,693|-|-|180,693|298,854|
||25,085|-|-|25,085|2,760|
||38,278|-|-|38,278|8,836|
||43,870|-|-|43,870|33,551|
||-|-|-|-|28,563|
||**287,926**|**-**|**-**|**287,926**|**372,564**|
|||||||
||1,523|-|-|1,523|48|
||244,468|-|-|244,468|226,117|
||43,500|||43,500|33,550|
||30,253|-|-|30,253|2,276|
||**319,743**|**-**|**-**|**319,743**|**261,991**|
|||||||
||**31,817**
**-**|**-**|**-**|**31,817**
**-**|**110,573**|
|||||||
||306,299|-|-|306,299|195,726|
||**274,482**|**-**|**-**|**274,482**|**306,299**|
Page 6
## **Balance Sheet as at 30/04/2023**
The London Merit Association Charity No. 1130154
|**Fixed assets**
**Tangible assets (Note 3)**
**_Total fixed assets_ **
**Current assets**
**Debtors (Note 4)**
**Cash at bank and in hand**
**_Total current assets_ **
**Creditors: amounts falling due within**
**one year (Note 5)**
**_Net current assets/(liabilities)_ **
**_Total assets less current liabilities_ **
**Creditors: amounts falling due after one**
**year (Note 5)**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Unrestricted funds**
**_Total funds_ **|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|
|---|---|---|---|---|---|
||181,169|-|-|181,169|120,710|
||**181,169**|**-**|**-**|**181,169**|**120,710**|
|||||||
||5,350|-|-|5,350|6,750|
||132,826|-|-|132,826|238,689|
||**138,176**|**-**|**-**|**138,176**|**245,439**|
|||||||
||3,850|-|-|3,850|9,850|
|||||||
||**134,326**|**-**|**-**|**134,326**|**235,589**|
|||||||
||**315,495**|**-**|**-**|**315,495**|**356,299**|
|||||||
||
41,013|-|-|41,013|50,000|
|||||||
||**274,482**|**-**|**-**|**274,482**|**306,299**|
|||||||
||274,482|-||274,482|306,299|
||**274,482**|**-**|**-**|**274,482**|**306,299**|
_**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.**_
|Signed by one or two trustees/directors on behalf of all the
trustees/directors
Sevki Yuksekkaya (Feb 29, 2024,
11:37am)|Print Name|Date of
approval
dd/mm/yyyy|
|---|---|---|
||Sevki Yuksekkaya|29 Feb|
||||
Musa Karabay (Feb 29, 2024, 11:41am)
Page 7
## Note 1 **Basis of preparation**
_**This section should be completed by all charities** ._
## **1.1 Basis of accounting and assessment of going concern**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*
## **1.2 Going concern**
The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
## **1.3 Change of accounting policy**
The accounts present a true and fair view and no changes have been made to the accounting policies.
## **1.4 Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).
## **1.5 Material prior year errors**
No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).
Page 8
## **Note 2 Accounting policies**
|**Note 2**|**Accounting policies**|
|---|---|
|**2.1 Income**||
|**Recognition of income**|These are included in the Statement of Financial Activities (SoFA) when:|
||� the charity becomes entitled to the resources;|
||� it is more likely than not that the trustees will receive the resources;|
||� the monetary value can be measured with sufficient reliability.|
|**Offsetting**|There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.|
|**Grants and donations**|Grants and donations are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP).|
|**Income from interest,**|This is included in the accounts when receipt is probable and the amount receivable can be|
|**royalties and dividends**|measured reliably.|
|**Income from membership**|Membership subscriptions received in the nature of a gift are recognised in Donations and|
|**subscriptions**|Legacies.|
|**2.2 Expenditure and Liabilities**||
|**Liability recognition**|Liabilities are recognised where it is more likely than not that there is a legal or constructive|
||obligation committing the charity to pay out resources and the amount of the obligation can|
||be measured with reasonable certainty.|
|**Governance and support**|Support costs have been allocated between governance costs and other support.|
|**costs**|Governance costs comprise all costs involving public accountability of the charity and its|
||compliance with regulation and good practice.|
|**Creditors**|The charity has creditors which are measured at settlement amounts less any trade
discounts|
||The charity accounts for basic financial instruments on initial recognition as per paragraph|
|**Basic financial instruments**|10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19,|
||FRS102 SORP.|
|**2.3 Assets**||
|**Tangible fixed assets for**|These are capitalised if they can be used for more than one year, and cost at least £300|
|**use by charity**||
||They are valued at cost.|
||The depreciation rates and methods used are disclosed in note 14.|
||Debtors (including trade debtors and loans receivable) are measured on initial recognition at|
|**Debtors**|settlement amount after any trade discounts or amount advanced by the charity.
Subsequently, they are measured at the cash or other consideration expected to be|
||received.|
Page 9
## **Note 3 Tangible fixed assets**
## **3.1 Cost or valuation**
|**Leasehold**
**Improvements**
**Fixtures, fittings and**
**equipment**
**Total**
**£**
**£**
**£**
At the beginning of the
year
137,728
34,793
172,521
Additions
55,745
13,133
68,878
Revaluations
-
-
-
Disposals
-
-
-
Transfers *
-
-
-
At end of the year
**193,473**
**47,926**
**241,399**
****Basis**
RB
SL or RB
SL or RB
**** Rate**
25%
At beginning of the year
18,657
33,154
51,811
Disposals
-
-
-
Depreciation
3,496
4,923
8,419
Impairment
-
-
-
Transfers*
-
-
-
At end of the year
**22,153**
**38,077**
**60,230**
Net book value at the
beginning of the year
119,071
1,639
120,710
Net book value at the
end of the year
**171,320**
**9,849**
**181,169**
**3.3 Net book value**
**3.2 Depreciation and impairments**|**Leasehold**
**Improvements**
**£**|**Fixtures, fittings and**
**equipment**
**£**|**Total**
**£**|
|---|---|---|---|
||137,728|34,793|172,521|
||55,745|13,133|68,878|
||-|-|-|
||-|-|-|
||-|-|-|
||**193,473**|**47,926**|**241,399**|
||RB|SL or RB|SL or RB|
||25%|||
|||||
||18,657|33,154|51,811|
||-|-|-|
||3,496|4,923|8,419|
||-|-|-|
||-|-|-|
||**22,153**|**38,077**|**60,230**|
|||||
||119,071|1,639|120,710|
||**171,320**|**9,849**|**181,169**|
Page 10
## **Note 4 Debtors and prepayments**
## **4.1 Analysis of debtors**
|**4.1 Analysis of debtors**|||
|---|---|---|
|**Other debtors**
**Total**|**This year**
**£**|**Last year**
**£**|
||5,350|6,750|
||**5,350**|**6,750**|
## **Note 5 Creditors and accruals** _**Please complete this note if the charity has any creditors or accruals.**_
## **5.1 Analysis of creditors**
|**5.1 Analysis of creditors**|||||
|---|---|---|---|---|
|**Accruals for grants payable**
**Bank loans and overdrafts**
**Total**|**Amounts falling due within**||**Amounts falling due after**||
||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**|
||3,850|9,850|-|-|
||-|-|41,013|50,000|
||**3,850**|**9,850**|**41,013**|**50,000**|
## **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 11
## **Issuer**
**Issuer** Kinas **Document generated** Thu, 29th Feb 2024 11:29:51 UTC **Document fingerprint** bb91b797dbc577221f28753adcb4e182
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
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Sevki Yuksekkaya - Signer (fb61908c7405e6c0d078510b81df1a7d) Musa Karabay - Signer (fc79668511a2ebf5326badca65f6e035)
## **Audit history log**
## **Date**
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