## **THE LONDON MERIT ASSOCIATION**
## **Reports and Accounts**
**For The Period Ended 31 May 2025**
**Charity Number: 1130154**
## **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|
## **Company Information**
Trustees Musa Karabay (Chairman) Sevki Yuksekkaya (Secretary) Enver Gundogdu (Treasurer) Ismail Sik Cihat Yildiz Kenan Boyraz Charity Number 1130154 Registered Office North London Chamber Of Commerce Enfield Business Centre 201 Hertford Road ENFIELD EN3 5JH
## **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 and 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 continues to go from strength to strength, fostering community engagement and advancing education. Our centre remains a vibrant hub for the community, welcoming students from across the borough and from diverse nationalities. In particular, our efforts to support integration into British society have been highly successful, helping students who previously struggled to adapt to secondary school environments.
We have also continued hosting our popular fetes, which bring people together to enjoy great tasting food and strengthen community bonds.
Our centre remains a vital space where people come to learn, connect and support one another. This sense of belonging continues to have a significant positive impact on the mental health and wellbeing of our community.
During the year, we also made significant progress towards securing a long term home for the charity. We are pleased to confirm that a new centre at the North London Chamber Of Commerce Enfield Business Centre was successfully secured in March 2026, marking an important milestone for the organisation and providing greater stability for the future.
## **Financial Review**
The charity remains in a strong and increasingly secure financial position.
During the year, the landlord brought the lease to an end earlier than anticipated. This has resulted in an impairment of £146,787 in relation to leasehold improvements. As a result, although the charity’s bank balance increased significantly from £31,919 to £222,724, the overall net movement in funds for the year was £32,618.
The increase in cash reserves reflects the charity’s proactive approach to strengthening its financial position. We have been actively working to build up funds in preparation for securing a new centre, which has now been achieved in March 2026.
**The trustees declare that they have approved the trustees’ report above.**
## **Signed on behalf of the charity’s trustees**
**----- Start of picture text -----**
SIGN
**----- End of picture text -----**
SIGN **Signature(s) Full name(s)** ~~e~~ Ismail Sik e Musa Karabay **Position (eg Secretary,** ~~e~~ Trustee e Trustee **Chair, etc) Date** ~~|~~ 31/03/2026 31.03.2026
## **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 Period ended 31/05/2025.
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.
|**Relevant professional**
**qualification(s) or body:**
**Signed:**
**Name:**
**Address:**||SIGN|SIGN|31/3/2026|
|---|---|---|---|---|
||||||
|||Kubilay Ozpalas|||
||||||
|||Association of Chartered Certified Accountants|||
||||||
|||Unit 11, Angel Yard|||
|||
34 Snells Park|||
|||London, N18 2FD|||
## **Statement of Financial Activities for the period 01/05/2024 - 31/05/2025**
The London Merit Association Charity No. 1130154
|**Section A Statement of**
**income and expenditure**|**financial activities (including summary**
**account)**|**financial activities (including summary**
**account)**|**financial activities (including summary**
**account)**|**financial activities (including summary**
**account)**|**financial activities (including summary**
**account)**|
|---|---|---|---|---|---|
|**Recommended categories by activity**
**Income**
**Expenditure**
**Income and endowments from:**
**Expenditure on:**
Donations and legacies
Other
Charitable activities
Impairment
Total funds brought forward
**_Total_**
**_Total_**
**_Net movement in funds_**
**_Reconciliation of_**
**_Total funds carried forward_**|**Total funds**
**Unrestricted**
**Restricted**
**Endowment**
**Prior year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|||||
||616,151
-
-|-
-
-|-
-
-|616,151
-
-|418,321
-
-|
|||-
-
-|-
-
-|-
-
-|-
-
-|
||**616,151**
**-**
**-**|**-**
**-**
**-**|**-**
**-**
**-**|**616,151**
**-**
**-**|**418,321**
**-**
**-**|
|||||||
||436,746
-
-|-
-
-|-
-
-|436,746
-
-|530,907
-
-|
||146,787
-
-|-
-
-|-
-
-|146,787
-
-||
||**583,533**
**-**
**-**|**-**
**-**
**-**|**-**
**-**
**-**|**583,533**
**-**
**-**|**530,907**
**-**
**-**|
|||||||
||**32,618**
**-**
**-**|**-**
**-**
**-**|**-**
**-**
**-**|**32,618**
**-**
**-**|**-**
**112,586**
**-**|
|||||||
||161,896
-
-|-
-
-|-
-
-|161,896
-
-|274,482
-
-|
||**194,514**
**-**
**- **|**-**
**-**
**- **|**-**
**-**
**- **|**194,514**
**-**
**- **|**161,896**
**-**
**-**|
## **Balance Sheet as at 31/05/2025**
The London Merit Association Charity No. 1130154
|||||||||**Restricted**||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||**Unrestricted**||||**income**|||**Endowment**|||**Total This**|||**Total last**|||
||||||**funds**|||**funds**|||**funds**|||**period**|||**year**|||
||||||**£**|||**£**|||**£**|||**£**|||**£**|||
|**Fixed assets**|||||F01|||F02|||F03|||F04|||F05|||
|**Tangible assets**||**(Note**|**3)**|-|3,600|-|-|-
-||-|-
-||-|3,600|-|-|168,799|-||
|||**_Total_**|**_fixed assets_**|**-**|**3,600**|**-**|**-**|**-**
**-**||**-**|**-**
**-**||**-**|**3,600**|**-**|**-**|**168,799**|**-**||
|**Current assets**||||||||||||||||||||
|**Debtors**||**(Note**|**4)**|-|-|-|-|-
-||-|-
-||-|-|-|-|5,350|-||
|**Cash at bank and in hand**||||-|222,724|-|-|-
-||-|-
-||-|222,724|-|-|31,919|-||
|||**_Total current assets_**||**-**|**222,724**|**-**|**-**|**-**
**-**||**-**|**-**
**-**||**-**|**222,724**|**-**|**-**|**37,269**|**-**||
|||||||||||||||||||||
|
**Creditors:**|**amounts falling due within**|||||||||||||||||||
|**one year**|**(Note 5)**|||-|21,453|-|-|-
-||-|-
-||-|21,453|-|-|33,553|-||
|||||||||||||||||||||
||**_Net current assets/(liabilities)_**|||**-**|**201,271**|**-**|**-**|**-**
**-**||**-**|**-**
**-**||**-**|**201,271**|**-**|**-**|**3,716**|**-**||
|||||||||||||||||||||
|**_Total assets less current liabilities_**||||**-**|**204,871**|**-**|**-**|**-**
**-**||**-**|**-**
**-**||**-**|**204,871**|**-**|**-**|**172,515**|**-**||
|||||||||||||||||||||
|
**Creditors:**|**amounts falling due after one**|||||||||||||||||||
|**year**|**(Note 5)**|||-|10,357|-|-|-
-||-|-
-||-|10,357|-|-|10,619|-||
|||||||||||||||||||||
|**_Total net assets or liabilities_**||||**-**|**194,514**|**-**|**-**|**-**
**-**||**-**|**-**
**-**||**-**|**194,514**|**-**|**-**|**161,896**|**-**||
|**Funds of**|**the Charity**|||||||||||||||||||
|**Unrestricted funds**||||-|194,514|-||||-|-
-||-|194,514|-|-|161,896|-||
||||**_Total funds_**|**-**|**194,514**|**-**|**-**|**-**
**-**||**-**|**-**
**-**||**-**|**194,514**|**-**|**-**|**161,896**|**-**||
_**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||Print Name|Date of
approval
dd/mm/yyyy|
|---|---|---|---|
||Ismail sik||31/03/2026|
||Musa Karabay||31/03/2026|
## 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**
The Trustees have decide to increase the depreciation rate on Leasehold Improvements due to the uncertainty regarding the current premises.
## **1.5 Material prior year errors**
No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).
## **Note 2 Accounting policies**
## **2.1 Income**
|**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**
**costs**|Support costs have been allocated between governance costs and other support. 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 10.7|
|**Basic financial instruments**|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.|
## **Note 3 Tangible fixed assets**
## **3.1 Cost or valuation**
|**3.2 Depreciation and i**
****Basis**
**3.3 Net book value**
**** Rate**
At the beginning of the
period
Additions
Revaluations
Disposals
Transfers *
At end of the period
Disposals
Depreciation
Impairment
Transfers*
At end of the period
Net book value at the
beginning of the period
Net book value at the
end of the period
At beginning of the
period|**£**
**Leasehold**
**Improvements**|**£**
**Fixtures, fittings and**
**equipment**|**Vehicle**|**Total**
**£**|
|---|---|---|---|---|
||203,372|51,972|6,000|261,344|
|||||-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||**203,372**|**51,972**|**6,000**|**261,344**|
||**mpairments**||||
||RB|SL|SL|SL or RB|
||10%|25%|25%||
||40,275|51,070|1,200|92,545|
||-|-|-|-|
||16,310|902|1,200|18,412|
||146,787|-|-|146,787|
||-|-|-|-|
||**203,372**|**51,972**|**2,400**|**257,744**|
||||||
||163,097|902|4,800|168,799|
||**-**|**-**|**3,600**|**3,600**|
## **Note 4 Debtors and prepayments**
## **4.1 Analysis of debtors**
|**4.1 Analysis of debtors**|||
|---|---|---|
|**Other debtors**
**Total**|**This period**
**£**|**Last year**
**£**|
||-|5,350|
||**-**|**5,350**|
**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**
**one year**||**Amounts falling due after**
**more than one year**||
||**This period**
**£**|**Last year**
**£**|**This period**
**£**|**Last year**
**£**|
||-|13,184|-|-|
||8,989|19,561|10,357|10,619|
||**8,989**|**32,745**|**10,357**|**10,619**|
## **TRUSTEES'S RENUMERATION AND EXPENSES**
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the period to any trustee or to any person or persons known to be connected with any of them.
## **Note 11 Paid employees**
_**Please complete this note if the charity has any employees.**_
## **11.1 Staff Costs**
|**11.1 Staff Costs**||||
|---|---|---|---|
|**Salaries and wages**
**Social security costs**
**Pension costs (defined cont**
**scheme)**
**Other employee benefits**|**ribution**|**This period**
**£**|**Last year**
**£**|
|||-
-
138,346|-
-
87,925|
|||-
-
-|-
-
-|
|||||
|||-
-
-|-
-
-|
|**_Please give details of the nu_**
**_benefits (excluding employe_**
**_£10,000 from £60,000 upwar_**
**_please enter 'true' in the box_**
**T**
**No employees received emp**
**(excluding employer pensio**
**the reporting period of more**
**Please provide the total amo**
**key management personnel**
**trustees and senior manage**
**services to the charity. For**
**amounts paid to trustees, se**
**11.2 Average head count in t**
**The parts of the charity in**
**which the employees work**|**_mber of employees whose total employee_**
**_r pension costs) fell within each band of_**
**_ds. If there are no such transactions,_**
**_provided._**
**otal staff costs**
**loyee benefits**
**n costs) for**
**than £60,000**
**This period**
**Last year**
**£**
**£**
**unt paid to**
**(includes**
**ment) for their**
**specific**
**e Note 28.**
**he year**
**This period**
**Last year**
**Number**
**Number**
-
- -
-
-
- -
-
138,346
87,925
26,500
24,000
**0**|-
-
138,346|-
-
87,925|
|||**0**||
|||||
|||**This period**|**Last year**|
|||**£**|**£**|
|||-
-
26,500|-
-
24,000|
|||||
|||**This period**
**Number**|**Last year**
**Number**|
||**Fundraising**|-
-
-|-
-
-|
||**Charitable**
**Activities**|-
-
13|-
-
9|
||**Governance**|-
-
-|-
-
-|
||**Other**|-
-
-|-
-
-|
||**Total**|-
-
13|-
-
9|
## **Note 13 Grantmaking**
_**Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.**_
## **This**
## **period:**
## **13.1 Analysis of grants paid (included in cost of charitable activities)**
||||**Grants to**||||**Grants to**|||**Support**||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**Analysis**|||**institutions**||||**individuals**|||**costs**|||**Total**|||
|||||||||||**£**|||**£**|||
|Activity or||||||||||||||||
|project 1||-|-
-|||-|-
-||-|-
-||-||-
-||
|Activity or||||||||||||||||
|project 2||-|-
-|||-|-
-||-|-
-||-||-
-||
|**_Total_**||**-**|**-**
**-**|||**-**|**-**
**-**||**-**|**-**
**-**||**-**||**-**
**-**||
_**Please enter “Nil” if the charity does not identify and/or allocate support costs.**_
## **13.2 Grants made to institutions**
|||**Total amount**|**Total amount**|**Total amount**|
|---|---|---|---|---|
||||**of grants**||
|**Names of institution**|**Purpose**||**paid £**||
||||||
||||||
|||-|-
-||
|**_Total grants to institutions in reporting period_**||**-**|**-**
**-**||
|**_Other unanalysed grants_**||-|-
-||
|**_TOTAL GRANTS PAID_**||-|-
-||
## **Last year:**
## **13.3 Analysis of grants paid (included in cost of charitable activities)**
||||**Grants to**||||**Grants to**|||**Support**|**Support**||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**Analysis**|||**institutions**||||**individuals**|||**costs**|||**Total**||
|||||||||||**£**|||**£**||
|Activity or|||||||||||||||
|project 1||-|28,880|-||-|-
-||||Nil|**-**|**28,880**|**-**|
|**_Total_**||**-**|**28,880**|**-**||**-**|**-**
**-**||**-**|**-**
**-**||**-**|**28,880**|**-**|
_**Please enter “Nil” if the charity does not identify and/or allocate support costs.**_
## **13.4 Grants made to institutions**
|||**Total amount**|**Total amount**|**Total amount**|**Total amount**|
|---|---|---|---|---|---|
||||**of grants**|||
|**Names of institution**|**Purpose**||**paid £**|||
|Suleymaniye Humanitarian Trust|Donations sent throughout the|-|26,880|-||
||year to support various|||||
||campaigns. Suleymaniye Aid's|||||
||mission is to combat global|||||
||poverty and create lasting|||||
||change.|||||
||https://suleymaniyeaid.com/|||||
|Seven Hills Educational Trust|Seven Hills Educational Trust|-|2,000|-||
||(SHET) is an educational charity|||||
||which was established by a|||||
||group of people with a love for|||||
||education|||||
||https://sevenhillstrust.org/|||||
|||-|-|-||
|**_Total grants to institutions in reporting period_**||**-**|**28,880**|**-**||
|**_Other unanalysed grants_**||-|-|-||
|**_TOTAL GRANTS PAID_**||-|28,880||-|