THE LONDON MERIT ASSOCIATION Reports and Accounts For The Year Ended 30 April 2024 Charity Number.. 1130154
THE LONDON MERIT ASSOCIATIOI Index age Charitv I nformation Trustees, Annual ReDort Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 8-11
Company Infomiation 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 OAP
Trustees. Annual Report Obiectives and Activities To fvrther or benefit the residents of London and the neighbourhood without distinction of sex, sexual orientation. ra or polib'cal. religious or other opinions by associating together Ihe 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 forthe residents. In furtherance of these objects but not otherwise, the trustees shall have the power to estsblish or secure the establishment of a community centre and to maintsin or manage or co-operate with any statutory authority in the maintenance and management of such a centre for adivities promoted by the charity in furtherance of the above objects. Achlevements and Perfomiance The charity continues to go from strength to strength, fostering community engagement and advancing education. Our new building has become a vibrant hub for the community. welcoming students from across the borough and from diverse nationalities. In parlicular, our efforts to support integration into British society have been highly successfijl, helping students who previously struggled to adapt to secondary school environments. We have also continued hosting our popularfetes, which bring people together to enjoy great-tasting food and strengthen community bonds. Flnancial Revlew The charity has successfully Gompleted the construction of our new building without IncL5rring additional debt, ensuring finanGial sustainability while delivering a vital community asseL Thls milestone reflects our careful planning and commitment to responsible financial management. As expocted, construction costs have reduced our cash reserve5. butthis was always planned and accounted for. Our ongoing fundraising efforts have helped to replenish funds, and we remain proactive in organising events and initiatives to strengthen our financial posikn'on. Looking ahead, we will continue these efforts to 8nsure the charity remains financially resilient and well-positioned to support the community. The trustees declare that they havg approved the trnstees, report abovo. Slgned on behalf of the charlty's trustees Signaturn(s) Full name(s) Position (eg Secretary, Chair. etc) Date
Independent Examinerfs Report Responsibilities and basis of report I report to the trustees on my examination of the accounts of the above charity ("the Trusf.) for the year ended 3010412024. 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 Directi'ons given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement The charity's gross income exceeded £250,000 and l 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 conneclion 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 orderto enable a proper understanding of the accounts to be reached. Sloned: Date.. Name". Relevant professional qualification(s) or body: Association of Chartered Certrfied Accountants Address:
Statement of Financial Activities for the period 0110512023 - 3010412024 The London Merit Association Charity No. 1130154 Recommended categorles by a¢Vity Unrestrlctsd R•strietsd Endowment Totsl funds F01 F02 Prlor year Income lrteomo and ernlomnents frtyn.. F03 F04 F05 205 778 38,278 Itra*roaCtiVI6s QwtAri Incomg 15.250 Total Expenditure Expndlturo on: Rolslr¥Jfun( CF¢rltat4eaeOvll88 418 321 418 321 287 926 3,379 502,774 502 774 ([59n1 Expnsa Other tr&11ng Total 530 907 530 907 319 743 Net movement In funds 112 586 112 586 Reconciliation of Tcl8J fuKls tfowht fLYW8rd Total funds canled fonvard 274 482 274 482 306 299
Balance Sheet as at 3010412024 The London Merit Association Charity No. 1130154 Unrestrf¢ted Ilegtrfjcted Endobvment fund5 In¢omè funds funds Total this ye8r Total last year Fixed assets Tan9ible assets F01 F02 F03 (Note 31 Total fixed assets F04 16 799 F05 181 69 181169 68 799 Current assets Debtorn (Note 41 Cash at bank and In hand Total oUt 8ssets 132 826 138 176 Creditors: amounts falllng du• wlthin ono year (Note 5) Not eunvne assds/(Ilabilitl•s) To¢•1 assets loss cument Il¥billtles 326 19 Credltors: amount¥ falllng dua after one year (Not• 5 Total net assets orllablllths Funds of the Charity Unrestrlct8d fund8 61 Total funds The oompany was entltled to •xomptlon from audit unders477 of the Companles A¢t 2006 relating to small comp•nI. The momb6rn have not rnqulrnd th• company to obtaln an audft In accordanc• wfth s•ctlon 476 of the Companlos Act 2006. Tho dlrnctor5 •cknow16dg0 ¢hwrrgspon51bllltles for complylng wlth tho rgquirom•nts of the Componles A¢t wlth re8POGt to accounting records and the prepardtion ofaccounts. Those aGcounts have been pr•par8d in accordance wlth th• prowslons appli¢abh to 8m411 companles $uble¢t to tha small companlps rnglme and In accordance wlth FRS102 SORP. Slgn£d by one orts tru$to88ldTrctors on bahaw of all 2S 2g.L.2Q
Note 1 Basis of preparation Thls so¢tlon should ba Gomnlgtsd bv all charitlos. 1.1 Basis of accountlng and as$e$sment of going concern These acGounts have been prepared under the historical cost convenlDn with item5 Tacognised at cost or transaGtion value un188S Otherwi88 Stated in the rolevant nolelsl lo these accounts. The 8ccounts have Df8Dared in accordanc8 with.. Ihe Stalem8nl of Recommended Practice.. Accounting and Reporting by Char(($ preparing their accounts in accordance with the Finan¢lal Reportlng Standard aPpIab in the UK and Republic of IrèLand IFRS 102) kssued on 16 Juty 2014 and wtih the CharKi85 kt 2011. The charty consfjlutes a publk befft entty as defined by FRS 102.. 12 Golng concarn The Iru8tges ¢onskleT that there ar• no m819r1 uncertaintles 8bout th• Trusts abilty to ¢onlinue as a going concern. 1.3 Chango of accountlng poII¢y The accounts present a true and fair vlew and no changes h8ve been made lo the accounting pdkigs. 1.4 Changes to aGGountlng 08tlmat•s The frustaès have déckle to kncrea56 th8 doprèclalbn Tate on LeasehoSY Improvomenls due lo the un¢ertainty regarding 1 current premSses. 1.5 Materfal prlor y•ar prrorn No moterlal prior year error have been Idonlffied the raporlng period13.47 FRS102 SORPI.
Note 2 Accounting policies 2.1 Income Recoonition of ineomg These are included In the Statement of Financial Activkles (SOFA) when.. th8 charity becomes enlilled to the resources.. il is more like than not that the tSteeS wlll receive the resourceB-, the mon8t8ry value can be measur8d th sufficient reliabililv. Offsetdng There has been no offsetting of assets and lbIlItIes. or incoffle and expgnses, unless required or pemf(led by the FRS 102 SORP or FRS 102. Grants and donatlons Grants and donations ara onty included in tho SOFA when the general incom re¢ognitton crlteria are mel15.10 to 5.12 FRS102 SORP}. This is included in the accounts when rec8iPt is probable and the amount receivable can be maasured reliably. Incomo from momb•rshlp Membernhip subscriptions r8ceiv8d in the natur8 of a gift are recognrsed in Donations and Su¢rp110Tr8 Legacies. Incorne from intsre$( royaltios and divldends 2.2 Exponditure and Liabilities Llablllty r•cognlti¢)n Liabililles ar& r8cognised where it is rTrJre likely than not that Ihaffj Is a legal or construclwe obligation committing tho charity to pay out resources and the amount of the obligation can be measured wlth re880nabl& certainty. Governanco and support Support costs have b68n allocal6d between govemance ¢osl$ and other support. ¢05ts Govemance costs ¢oryrise all costs invofving publlc aecounlabillty of the chariiy and it8 ompliance with regulation and good practice. The charity ha8 creditors which a measured 81 selllement anUnIS less any trade dlscounts Credltor8 The ¢harity 8Gcounts for basic flnanclal Instruments on inlllal recognition as per pardgraph Ba$lc Inanclal Inslrnmonts 10.7 FRS102 SORP. Subsequent measur8m8nt is as per parngraphs 11.17 to 11.19, FRS102 SORP. 2.3 A88ets Tanglblè flxed assets for These are capltalised rf they can be used for more than ona year. and cost al least £300 use by charity They are valued al cost. The depreciation oles and methods used are disclosed in note 14. Dobtor8 Dèbtors {In¢luding trede debtors and 108ns receivable) are mgasur8d on Inltlal re¢ognTrtion at settlement amount after any trade discounts or amount advanced by the charity. Subsequentty, they are measured at the cash or other consideration expected to be received.
Note 3 Tanglble flxed assets 3.1 Co8t or valuation Lgasehold Improvements Fixture$. flttlngs and equlpment Vehicle Total At the b8annina ofthe Additions 9,899 4,045 6,000 19,945 Revaluations DbposaL8 Transfers ' At and of th8 year 203,372 51,972 6,000 261,344 32 Depreclatlon and Impalments -Basl8 RB SL SL SLorRB Rat• At Oinina of the vear Dispjsals Depreciation 18,122 12.993 1,200 32,315 Impalrment Transfer$. At ond of the ye8r 40,275 51,070 1,200 92,545 3.3 Net book value Nel book value al the begnning of the year Not book voluo at the end of the year 171,320 9,849 181,169 163,097 902 4,800 168.799
Note 4 Debtors and prepayments 4.1 Analysis of débtors This vear Last vear Other debtors 5.350 5,350 5.350 5.350 Total Note 5 Credltors and accruals Please complete thls note If tho charlty has any er8ditors orac¢rnal8. 5.1 Analysls of crodltors Amounts allin Thls vear due within Last vear Amount f I Thls vear In due after Last vear AcGrual8 for grants payablo Bank loans and overdrafts Total TRUSTEES'S RENUMERATION AND EXPENSES No remuneration diractly or indir8Ctly out of the ftjnds of the charity was paid or payable for the year to any trustee orto any person or persons known to be connected with any ofthem.
Note11 Paid employees Please complete this note If the charity has any employees. 11.1 staff Costs This year Last year Salaries and wages Social security costs Pension costs (defined contribution Other employee benefits 87,925 51,399 Total staff costs 87,925 51,399 Please give detalls of the number of emplo No employees recelved employee benefits ees whose total emplo This ear Last oar Please provlde the total amount paid to 24,000 20,000 This year Number Last year Number 11.2 Average head count In the The parts of the charity In whlch the employees work ear Total
Note 13 Grantmaking Please complete this note rf the charity made any grants or donations This year: 13.1 Anal sis of rants aid Analysis institutions included in ¢ost of charitable activlties individuals costs Total 8Ct1 ect2 Total 28,880 Please enter "Nll" If the charfty does not identlfy and/or allocate 13.2 Grants made to Institutlons Names of Instltution Suleymaniye Humanitarian Trus Seven Hills Educational Trust ose Donations sent throughout the Seven Hills Educational Trust of rants 26.880 2,000 Total grnnts to instltutions in reporting period Other unanalysed gtsnts TOTAL GRANTS PAID Last year: 13.3 Anal Sis of rants aid Analysis Institutions Included In cost of charltable actlvities indlvlduals costs Total ecl 1 Total Hease enter "Nil" If tho chan-ty does not idontlfy and/or allocate