**REGISTERED COMPANY NUMBER: 06943840 (England and Wales) REGISTERED CHARITY NUMBER: 1170943** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 May 2023** ## **for** ## **Nur Cultural Education Association** KALA ATKINSON Chartered Certified Accountants & Statutory Auditors 43 Upton Lane London E7 9PA **Nur Cultural Education Association** **Contents of the Financial Statements for the Year Ended 31 May 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**||1|| |**Statement of Financial Activities**||2|| |**Balance Sheet**|3|to|4| |**Notes to the Financial Statements**|5|to|10| |**Detailed Statement of Financial Activities**|11|to|12| **Nur Cultural Education Association** ## **Report of the Trustees for the Year Ended 31 May 2023** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 06943840 (England and Wales) ## **Registered Charity number** 1170943 ## **Registered office** 70a Willoughby Lane London N17 0SP ## **Trustees** S Basatogrul T Demir F Gultekin S Kilic ## **Company Secretary** Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................................... S Kilic - Trustee Page 1 **Nur Cultural Education Association** ## **Statement of Financial Activities for the Year Ended 31 May 2023** |31.5.23
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
408,366
Investment income
2
12,400
**Total**
420,766
**EXPENDITURE ON**
Raising funds
3
75,218
**NET INCOME/(EXPENDITURE)**
345,548
**RECONCILIATION OF FUNDS**
Total funds brought forward
2,434
**TOTAL FUNDS CARRIED FORWARD**
347,982|31.5.22
Total
funds
£
48,078
-
48,078
49,334
(1,256)
3,690
2,434| |---|---| The notes form part of these financial statements Page 2 **Nur Cultural Education Association** ## **Balance Sheet 31 May 2023** |Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
10
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|31.5.23
Unrestricted
fund
£
1,354,636
836
(4,740)
(3,904)
1,350,732
(1,002,750)
347,982
347,982
347,982|31.5.22
Total
funds
£
481
6,653
(4,700)
1,953
2,434
-
2,434
2,434
2,434| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continued... Page 3 **Nur Cultural Education Association** ## **Balance Sheet - continued** ## **31 May 2023** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. S Kilic - Trustee The notes form part of these financial statements Page 4 **Nur Cultural Education Association** ## **Notes to the Financial Statements for the Year Ended 31 May 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**|||| |---|---|---|---| ||31.5.23|31.5.22|| ||£|£|| |Rents received|12,400||-| continued... Page 5 **Nur Cultural Education Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 May 2023** ## **3. RAISING FUNDS** ## **Raising donations and legacies** **----- Start of picture text -----**
|||| |---|---|---| |31.5.23|31.5.22| |£|£| |Rent|32,700|21,500| |Donation paid|268|81| |Computer cost|645|490| |Events|2,117|-| |Subscriptions|216|-| |Depreciation|379|120| |-| |Support costs|1,082| |37,407|22,191| |NET INCOME/(EXPENDITURE)| |Net income/(expenditure) is stated after charging/(crediting):| |31.5.23|31.5.22| |£|£| |Depreciation - owned assets|379|120| **----- End of picture text -----**
## **4. NET INCOME/(EXPENDITURE)** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022. ## **6. STAFF COSTS** The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
|||| |---|---|---| |31.5.23|31.5.22| |average number of employees|-|1| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. continued... Page 6 **Nur Cultural Education Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 May 2023** ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
Raising funds
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**8.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 June 2022
Additions
At 31 May 2023
**DEPRECIATION**
At 1 June 2022
Charge for year
At 31 May 2023
**NET BOOK VALUE**
At 31 May 2023
At 31 May 2022|Freehold
property
£
-
1,353,121
1,353,121
-
-
-
1,353,121
-|Plant and
machinery
£
3,242
1,413
4,655
2,761
379
3,140
1,515
481|Unrestricted
fund
£
48,078
49,334
(1,256)
3,690
2,434
Totals
£
3,242
1,354,534
1,357,776
2,761
379
3,140
1,354,636
481| |---|---|---|---| continued... Page 7 **Nur Cultural Education Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 May 2023** |**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.5.23
£
Trade creditors
4,339
Social security and other taxes
11
Accrued expenses
390
4,740
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.5.23
£
Other loans (see note 11)
1,002,750
**11.**
**LOANS**
An analysis of the maturity of loans is given below:
31.5.23
£
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal
693,750
Repayable otherwise than by instalments:
Qarz-E-Hasna
309,000
**12.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.6.22
in funds
£
£
**Unrestricted funds**
General fund
2,434
345,548
**TOTAL FUNDS**
2,434
345,548
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
420,766
(75,218)
**TOTAL FUNDS**
420,766
(75,218)|31.5.22
£
4,340
-
360
4,700
31.5.22
£
-
31.5.22
£
-
-
At
31.5.23
£
347,982
347,982
Movement
in funds
£
345,548
345,548| |---|---| continued... Page 8 **Nur Cultural Education Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 May 2023** ## **12. MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** ||Net||| |---|---|---|---| ||movement||At| |At 1.6.21|in funds|31.5.22|| |£|£||£| |**Unrestricted funds**|||| |General fund
3,690|(1,256)||2,434| |**TOTAL FUNDS**
3,690|(1,256)||2,434| |Comparative net movement in funds, included in the above are as follows:|||| |Incoming
resources
£
**Unrestricted funds**|Resources
expended
£|Movement
in funds
£|| |General fund
48,078|(49,334)||(1,256)| |**TOTAL FUNDS**
48,078|(49,334)||(1,256)| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.6.21
£
3,690
3,690|Net
movement
in funds
£
344,292
344,292|At
31.5.23
£
347,982
347,982| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
468,844
468,844|Resources
Movement
expended
in funds
£
£
(124,552)
344,292
(124,552)
344,292| |---|---|---| continued... Page 9 **Nur Cultural Education Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 May 2023** ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 May 2023. Page 10 **Nur Cultural Education Association** ## **Detailed Statement of Financial Activities for the Year Ended 31 May 2023** |**Detailed Statement of Financial Activities**
**for the Year Ended 31 May 2023**||| |---|---|---| ||31.5.23|31.5.22| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|408,077|37,178| |Gift aid|289|-| |Grants|-|10,900| |**Investment income**|408,366|48,078| |Rents received|12,400|-| |**Total incoming resources**|420,766|48,078| |**EXPENDITURE**||| |**Raising donations and legacies**||| |Rent|32,700|21,500| |Donation paid|268|81| |Computer cost|645|490| |Events|2,117|-| |Subscriptions|216|-| |Plant and machinery|379|120| |**Other trading activities**|36,325|22,191| |Wages|22,171|20,889| |Rates|2,057|3,947| |Light and heat|3,000|-| |Telephone|1,109|773| |Sundry|1,796|96| |Accountancy|360|360| |Insurance|125|871| |Repairs and renewals|2,964|13| |Postage and stationery|-|67| |Bank charges|2,445|97| |Travelling|1,784|30| ||37,811|27,143| |**Support costs**||| |**Governance costs**||| |Legal fees|1,082|-| This page does not form part of the statutory financial statements Page 11 **Nur Cultural Education Association** **Detailed Statement of Financial Activities for the Year Ended 31 May 2023** |**Detailed Statement of Financial Activities**
**for the Year Ended 31 May 2023**||| |---|---|---| ||31.5.23|31.5.22| ||£|£| |Total resources expended|75,218|49,334| |**Net income/(expenditure)**|345,548|(1,256)| This page does not form part of the statutory financial statements Page 12