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← Amity Educational Foundation

2025-05-31-accounts

REGISTERED CHARITY NUMBER: 1133629

REGISTERED COMPANY NUMBER: 05802582

AMITY EDUCATIONAL FOUNDATION

(A private limited company by guarantee without share capital use of ‘limited exemption)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 May 2025

Amity Educational Foundation. Registered in the UK. Registered office: 244 Chase Road, London N14 6HH Charity Reg No. 1133629 Website: http://www.amityeducation.org.uk/ E-mail: info@amityeducation.org.uk

AMITY EDUCATIONAL FOUNDATION

Contents Page
Legal and administrative information 2
Trustees Report 3-4
Accountant’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of cash flows 8
Notes to the Financial Statements 9-17

1

AMITY EDUCATIONAL FOUNDATION

Legal and administrative information

Trustees

Davud Aktas

Aydin Aktas Ercument Ozcan

M I Sengel

Company Number: 05802582

Charity Number: 1133629

Registered Office address

244 Chase Road, London, N14 6HH

Accountants

AA Accountancy Services

244 Chase Road London N14 6HH

2

AMITY EDUCATIONAL FOUNDATION

Trustees’ Report

This report has been prepared by the board of trustees of Amity Educational Foundation to present the activities, financial overview, and future plans of the charity for the period 1 June 2024 – 31 May 2025.

Objectives and Activities

The principal objective of Amity Educational Foundation is to increase access to quality education, particularly for disadvantaged groups, and to promote lifelong learning. In pursuit of this purpose, the foundation runs scholarship programmes, collaborates with educational institutions, and delivers teacher and student development projects.

During the year, the foundation:

‑ - Organised in service training seminars for teachers.

All activities have been planned and carried out in accordance with the governing document of the foundation and the applicable legal and regulatory framework.

Main Achievements in the Year

‑ During the reporting period, the foundation’s education focused work can be grouped under the following headings:

These activities have strengthened the foundation’s ability to fulfil its charitable aims and have increased its positive impact on beneficiaries.

Financial Review

In this reporting period, the foundation’s main sources of income consisted of donations, grants, and funds carried forward from previous years. Expenditure was primarily related to scholarship payments, project costs, and necessary administrative and governance expenses.

The trustees confirm that the financial statements have been prepared in accordance with the relevant accounting standards and that income and expenditure have been recorded on a true and fair basis. An independent examiner/auditor has reviewed the financial statements and confirmed that they give a true and fair view of the foundation’s financial position.

3

Governance, Risk Management and Future Plans

The foundation maintains appropriate internal control mechanisms to ensure that its operations are effective, transparent, and compliant. Financial, legal and operational risks are regularly reviewed, and mitigation measures are implemented where necessary.

The trustees’ key priorities for the forthcoming period are:

The board of trustees expresses its gratitude to all donors, volunteers, staff, and partner organisations whose support enables the foundation to continue its work in the field of education.

Approved by Davut Aktas on 9 December 2025

Davut Aktas

4

AMITY EDUCATIONAL FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO TRUSTEES OF AMITY EDUCATIONAL FOUNDATION

I report on the accounts of the charity for the period ended 31 May 2025 which are set out on pages 10 to 20

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment Act 2005 and the Charities Accounts Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any 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 view given by the accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention other than disclosed below.

1.which gives me reasonable cause to believe that in any material respect the requirements:

•to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations

•to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or

2.to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached .

AA ACCOUNTANCY SERVICES

Chartered Certified Accountant

244 Chase Road, London, N14 6HH

Date: 09/12/2025

5

AMITY EDUCATIONAL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating income and expenditure account) FOR THE YEAR ENDED 31 MAY 2025

Unristricted
Notes
Funds
INCOME AND EXPENDITURES
£
INCOMING RESOURCES
Incoming resources from generated funds:
Voluntary income
2
465087
Activities for generating funds
3
0
Investment income
4
20225
Incoming resources from charitable activities
5
18571
Other incoming resources
6
21308
TOTAL INCOMING RESOURCES
525191
RESOURCES EXPENDED
charitable Activities
7
474308
Governance Costs
8
48709
Other resources expended
9
0
TOTAL RESOURCES EXPENDED
11
523017
NET INCOMING/(OUTGOING) RESOURCES
before transfers
21
2174
Transfersbetween funds
-
NET MOVEMENT IN FUNDS FOR THE YEAR
2174
Total Funds at 1 June 2024
139920
Prior Year Adjustment (Note 20)
0
Total Funds at 31 MAY 2025
142094
=====		 Restricted
Funds
£
0
0
9750
0
-
9750
9750
0
0
9750
0
-
0
0
0
0
=====		 2025
Total
£
465,087
0
29975
18571
21308
534941
484058
48709
0
532767
2174
-
2174
139920
0
142094
=====		 2024
Total
£
317,317
0
58650
52987
1851
430805
353959
29505
0
383464
47341
-
47341
92579
0
139920
=====

The notes on pages 9 to 17 form part of these accounts.

6

AMITY EDUCATIONAL FOUNDATION

BALANCE SHEET AS AT 31 MAY 2025

Notes
2025
₤
15
27807
Programme related investments
16
0
27807
Debtors
17
11410
Stocks
21000
92955
125365
18
(6374)
19
(4704)
142094
=====
21
0
21
142094
142094
=====
Unrestricted funds
CREDITORS:Amounts falling due
within one year
Total assets less current liabilities
Net current assets / (liabilities)
CREDITORS:Amounts falling due
more than one year
FIXED ASSETS
Tangible assets
CURRENT ASSETS
Cash at bank and in hand
Restricted funds
CHARITY FUNDS		 2024
₤
30307
0
30307
78880
20500
21713
121093
(2199)
(9281)
139920
=====
0
139920
139920
=====

The notes on pages 9 to 17 from part of these accounts. Approved by the Board of Trustees on 9 December 2025 and signed on its behalf by Davud Aktas, Trustee.

Davud Aktas Trustee

7

Statement of cash flows

Total
funds		 Prior year
funds		 Note
£ £
Cash flows from operating activities:
Net income/(expenses) for the reporting period
(asper the statement of financial activities)		 2174 47341
Adjustments for:
Depreciation charges 2500 2000
(Gains)/losses on investments 0 0
Dividends,interest and rents from investments 0 0
Loss/(profit)on the sale of fixed assets 0 0
(Increase)/decrease in stocks (500) (20500)
(Increase)/decrease in debtors 31780 (76380)
Increase/(decrease)in creditors 39865 626
Net cash provided by (used in) operating
activities		 75819 (46913)
Cash flows from investing activities:
Dividends,interest and rents from investments 0 0
Proceeds from the sale of property, plant and
equipment		 0 0
Purchase ofproperty, plant and equipment 0 (13900)
Proceeds from sale of investments 0 0
Purchase of investments 0 0
Net cash provided by (used in) investing
activities		 (13900)
Cash flows from financing activities:
Repayments of borrowing (4577) (3889)
Cash inflows from new borrowing 0 0
Receipt of endowment 0 0
Net cash provided by (used in) financing
activities		 (4577) (3889)
Change in cash and cash equivalents in the
reporting period		 71242 (64702)
Cash and cash equivalents at the beginning of
the reporting period		 21713 86415 (Table 1)
Change in cash and cash equivalents due to
exchange rate movements		 0 0
Cash and cash equivalents at the end of the
reporting period		 92955 21713 (Table 1)

Table 1: Analysis of cash and cash equivalents

Current
year		 Prioryear
£ £
Cash in hand 92955 21713
Notice deposits(less than 3 months) 0 0
Overdraft facilityrepayable on demand 0 0
Total cash and cash equivalents 92955 21713

Table 2: Analysis of changes in net debt

At start
ofyear		 Cashflows Acquisition/
disposal of
subsidairires		 New
leases		 Fair
value
movem
ents		 Foreign
exchange
moements		 Other
non cash
changes		 At end
ofyear
£ £
Cash 21713 75946 - - - - - 97659
Cash equivalents 0 0 - - - - - 0
Overdraft facilityrepayable on demand 0 0 - - - - - 0
Loans fallingdue within oneyear (9281) 4577 0 - - - 0 (4704)
Loans fallingdue after more than oneyear 0 0 0 - - - 0 0
Lease obligations 0 0 0 0 - - - 0
TOTAL 12432 80523 0 0 0 0 0 92955

8

AMITY EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted 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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.3 Incoming resources

All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable No income is recognised where there is no financial cost borne by a third party.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable

1.4 Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

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

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled, Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

9

AMITY EDUCATIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

1. ACCOUNTING POLICIES (continued)

1.5 Tangible fixed assets and depreciation

All assets costing more than £ 500 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and fittings 25% reducing balance

1.6 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

1.7 Programme related investment

Programme related investments are stated at the cost of investment.

2. VOLUNTARY INCOME
Donations
Grants
Voluntary Income
3. TRADING ACTIVITIES
Charity trading income
Charity trading income-Domestic
Net income from trading activities		 Unristricted
Funds
£
464107
980
465087
Unristricted
Funds
£
0		 Restricted
Funds
£
0
Restricted
Funds
£
-
0		 2025
Total
£
464107
980
465087
2025
Total
£
0
0		 2024
Total
£
314319
2998
317317
2024
Total
£
0
0

10

AMITY EDUCATIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

4. INVESTMENT INCOME
Unristricted
Funds
£
Rental Income
20225
5. INCOMING RESOURCES FROM CHARITABLE
Unristricted
Funds
£
Educational Activities
18571
6. OTHER INCOMING RESOURCES
Unristricted
Funds
£
Other incoming resources
21308
7. EXPENDITURE BY CHARITABLE ACTIVITY
SUMMARY BY FUND TYPE
Unristricted
Funds
£
Charitable Activities
474308
Governance Cost
48709
523017
SUMMARY BY EXPENDITURE TYPE
Staff
Costs
£
Charitable Activities
110305
Governance Cost
17450
127755		 Restricted
2025
Funds
Total
£
£
9750
29975
ACTIVITIES
Restricted
2025
Funds
Total
£
£
0
18571
Restricted
2025
Funds
Total
£
£
0
21308
Restricted
2025
Funds
Total
£
£
9750
484058
48709
9750
532767
Other
2025
Costs
Total
£
£
373753
484058
31259
48709
405012
532767		 2024
Total
£
58650
2024
Total
£
52987
2024
Total
£
1851
2024
Total
£
353959
29505
383464
2024
Total
£
0
0

11

AMITY EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

8. GOVERNANCE COSTS
Unrestricted
Funds
£
Governance- Accountants fees
750
Governance - Premises costs for head office
28009
Governance expense - wages and salaries
12256
Governance expense - NI
5194
Governance - depreciation - tangible fixed assets
2500
48709
====
9. OTHER RESOURCES EXPENDED
Unrestricted
Funds
£
Loss((profit) on disposal of fixed asset
0
====
10. DIRECT COSTS
Basis of Unrestricted
Allocation
Funds
£
Premises
Direct
242330
Insurance
Direct
0
Consultancy fees
Direct
24976
Professional fees
Direct
3000
Printing, Postage and Stationary
Direct
0
Bursary and grants
Direct
74187
Telephone
Direct
0
Travel and substance
Direct
1150
Bank Charges
Direct
80
Miscellaneous
Direct
35
Advertising
Direct
0
Interest
Direct
0
Wages and salaries
Direct
110305
Purchases
Direct
18245
474308
====		 Unrestricted
Funds
£
750
28009
12256
5194
2500		 Restricted
Funds
£
0
0
0
0
0
0
====
Restricted
Funds
£
0
====
Restricted
Funds
£
9750
0
0
0
0
0
0
0
0
0
0
0
0
0
9750
====		 2025
Total
£
750
28009
12256
5194
2500		 2024
Total
£
750
18959
6061
1735
2000
48709
====
Unrestricted
Funds
£		 48709
====
2025
Total
£		 29505
====
2024
Total
£
0
====
2025
Total
£
252080
0
24976
3000
0
74187
0
1150
80
35
0
-
110305
18245		 0
====
2024
Total
£
170432
1540
10970
2500
1400
63695
0
0
70
15
300
688
54544
47805
474308
====		 484058
====		 353959
====

9

AMITY EDUCATIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

11. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE

Staff Costs
Depreciation
Other Costs
2025
£
£
£
£
Charitable Expenses
110305
0
373753
484058
Investment Income
0
0
0
0
Charitable activities
110305
0
373753
484058
Governance
17450
2500
28759
48709
Loss on disposal of fixed assets
0
0
0
0
127755
2500
402512
532767
12. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES
Activities undertaken
Total
Directly
Support Costs
2025
£
£
£
Charitable Activities
474308
0
474308
Investment Income
9750
48709
58459
Total
484058
48709
532767		 2025
£
484058
0		 2024
£
353959
0
484058 353959
48709
0		 17348
0
532767 371307
Total
2024
£
353959
17348
532767 371307

13. NET INCOMING RESOURCES

This is stated after charging:

13. NET INCOMING RESOURCES
This is stated after charging:
2025 2024
£ £
Depreciation of tangible fixed assets: owned by charity 2500 2000
Auditor's remuneration 0 0
Governance Accountant fees 750 750

During the year, no Trustees received any remuneration (2024 -£NIL). During the year, no Trustees received any benefits in kind (2024 -£NIL).

During the year, no Trustees received any reimbursement of expenses (2024 -£NIL).

14. STAFF COSTS

Staff costs were as follows:

Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:		 2025
£
122561
23439
146000
2025
No.
20		 2024
£
60605
1735
62340
2024
No.
8

No employee received remuneration amounting to more than £60,000 in either year.

13

AMITY EDUCATIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

15. TANGIBLE FIXED ASSETS

15. TANGIBLE FIXED ASSETS
Cost
At 01.06.2024
Additions
At 31.05.2025
Depreciation
At 01.06.24
charge for period
At 31.05.25
Net book values
At 01.06.24
At 31.05.25		 TOTAL
£
38783
0
38783
-8476
-2500
-10976
27807
30307

16. PROGRAMME RELATED INVESTMENT

Market Value
At 1 June 2024
and 31 May 2025
At 31 May 2025		 £ £ £ £ Total
£

Programme related investments enable other charities to further their charitable objectives as well as ours in advance of furthering the education of students throughout the UK.

Total bank loans at the year end of …........ are owed in relation to the

Programme Related Investments held.

14

AMITY EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

17. DEBTORS

EBTORS
2025 2024
£ £
Due after more than one year 4704 9281
Other Debtors 0
Due within one year
Trade debtors 10600 24700
Other debtors 810 54180
11410 78880

18. CREDITORS: Amount falling due within one year

2025
£
Bank loans and Overdraft
Trade creditors
Other taxation and social security
6350
Other creditors
24
Accruals and deferred income
6374		 2024
£
555
1644
2199

19. CREDITORS: Amount falling due after one year

2025 2024
£ £
Bank loans 4704 9281
Other creditors
4704 9281
Creditors include amounts not wholly repayable within 5 years as follow
2025 2024
£ £

Creditors include amounts not wholly repayable within 5 years as follows:

Repayable by instalments

Bank loans are secured by way of a charge over the freehold buildings of the charity.

15

AMITY EDUCATIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

20. PRIOR YEAR ADJUSTMENT

There is no prior year adjsutment this year

21. STATEMENT OF FUNDS

Designated Funds
General Funds
General Funds-all funds
Total Unrestricted funds
Restricted funds
Restricted funds-all funds
Total of funds
SUMMARY OF FUNDS
General Funds
Restricted funds		 Brought
Forward
£
139920
139920
0
139920
Restated
Brought
Forward
£
139920
0
139920		 Incoming
Resources
£
525191
525191
9750
534941
Incoming
Resources
£
525191
9750
534941		 Resources
Expended
£
(523017)
(523017)
(9750)
(532767)
Resources
Expended
£
(523017)
(9750)
-532767		 Transfers
In/Out
£
0		 Carried
Forward
£
142094
0 142094
0 0
0 142094
Transfers
In/Out
£
0
0		 Carried
Forward
£
142094
0
0 142094

16

AMITY EDUCATIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

22. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Programme related investments
Debtors due after more than 1 year
Current assets
Creditors due within one year
Creditors due in more than one year		 Unrestricted
Restricted
Total
Total
Funds
Funds
2025
2024
£
£
£
£
27807
0
27807
30307
0
0
0
0
0
0
0
125365
0
125365
121093
(6374)
0
(6374)
(2199)
(4704)
0
(4704)
(9281)
142094
0
142094
139920

23. RELATED PARTY TRANSACTIONS

There was not any related party transaction with any of the trustees this year and last year.

17