Registration number 10261522 Registered charity number 1171423
YUNUS EMRE ENSTITUSU Company limited by guarantee
Trustees' report and financial statements
for the year ended 30 June 2023
YUNUS EMRE ENSTITUSU Company limited by guarantee
Charity information
| Trustees who served during | the year | |
|---|---|---|
| Professor Seref Ates ( Chairman ) | ||
| Dr Abdullatif Aydin | ||
| Mr Muttalip Unluer | From 10th November 2009 | |
| Charity number | 1171423 | |
| Registered office | 10 Maple Street | |
| London | ||
| United Kingdom | ||
| W1T 5HA | ||
| Independent Examiner | Meer and Company | |
| No. 1 Cochrane House | ||
| Admirals Way | ||
| Canary Wharf | ||
| London | ||
| E14 9UD | ||
| Bankers | Metro Bank |
YUNUS EMRE ENSTITUSU Company limited by guarantee
Contents
| Page | |
|---|---|
| Trustees' annual report | 1 - 3 |
| Independent examiners' report | 4 |
| Statement of financial activities | 5 |
| Statement of total recognised gains and losses | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 8 |
YUNUS EMRE ENSTITUSU Company limited by guarantee
Report of the Trustees' for the year ended 30 June 2023
The Trustees present their annual report and the financial statements for the year ended 30 June 2023 and confirm they comply with the Charities Act 2011, the trust deed and the Charities SORP.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 04th July 2016 and registered as a charitable trust with the Charity Commission on 01 February 2017 under charity number 1171423. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Organisational structure
The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.
The trustees meet together as a body at least once in year and are responsible for all decisions taken in relation to running of the charity and the community facilities and the activities provided by the charity. The day-to-day management of the Charity and community facilities and projects are delegated to designated director.
Recruitment and appointment of trustees
The existing trustees are responsible for the recruitment of new trustees.
In selecting new trustees, we seek to identify people who have good reputation in community and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees' meeting as observers and are given more details of the charity's aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the person's eligibility, personal competence, specialist knowledge and skills.
Induction and training of trustees
A number of publications, detailed guides and how to guides, from the Charity Commission are also provided including "What makes a charity", "Charitable purposes and public benefit" and "Public benefit: the rules for charities". This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act.
Risk management
The trustees assess the risks the charity faces using a risk matrix which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening and the measures taken to manage them. The trustees review the risk at their meetings. The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks. In particular, insurance cover is in place and the finances of the Charity are kept under review.
Objectives and activities
Our aims
The objects of the charity are set out in the charity's trust deed and are summarised as follows:
(a) to advance education in Turkish culture, heritage, art and language, including but not limited to through the provision of training, events and research opportunities; and
(b) to promote Turkish culture, heritage, art and language, in particular (but not limited to) by promoting cultural relationships between the people and peoples of turkey, the United Kingdom and other countries, including (but not limited to) through the establishment of cultural centres in the United Kingdom and other
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YUNUS EMRE ENSTITUSU Company limited by guarantee
Report of the Trustees' for the year ended 30 June 2023
.................... continued
(c) The relief of charitable need and suffering among persons affected by war or natural disaster in Turkey through the provision of money, resources or other support.
Our objectives
Our objectives are set to reflect our commitment to advancement of education and cultural relations. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission's detailed guidance on public benefit requirement.
Activities and achievements
How our activities deliver public benefit
The adequacy or appropriateness of charity in society cannot be satisfactorily assessed on the basis of singular perspectives or criteria, where multiple components are taken into account, including assessment of the anticipated and wider environmental, economic, ethical, social, and cultural impacts of scientific and technological developments. The charity carries out a range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarised below, provide benefit to wider public.
Cultural activities
Academic activities
Our organisation serves as a centre for the academic activities through our association with young and established academics in varying topics dealing with issues from sustainable developments to issues affecting the humanity as well as topics covering Turkey and its surroundings.
Conferences and trainings
Our centre is available for use by British public in London. The facilities have also benefited students, visiting artists and scholars from around the world.
Financial review
Reserves policy
The trustees have reviewed the reserves of the charity. Their policy is to hold enough funds to meet four months' operating costs of the premises. The free reserves as at 30 June 2023 were £22,944 (30 June 2022 : £57,628).
Principal funding sources
The charity's main source of income is grants received from our sole member.
Investment policy and objectives
The charity has no long-term investments. Our cash reserves are held in bank accounts.
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YUNUS EMRE ENSTITUSU Company limited by guarantee
Report of the Trustees' for the year ended 30 June 2023
.................... continued
Statement of Trustees' responsibilities
The charity trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures
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disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
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charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, Companies Act 2006 and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees for the purposes of charity law who served during the year and up to the date of this report are set out on charity information page.
Approved by the Trustees and signed on its behalf by:
Acting Chair Prof Dr Şeref Ateş
Date : 22.04.2024
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YUNUS EMRE ENSTITUSU Company limited by guarantee
Independent examiners' report to the trustees of YUNUS EMRE ENSTITUSU
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of YUNUS EMRE ENSTITUSU for the year ended 30 June 2023.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 ('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 2011 Act.
Independent examiner’s statement
Since the charitable company's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
.....................................
Haroon Rafique - Chartered Accountant For and on behalf of Meer and Company
Date :
No. 1 Cochrane House Admirals Way Canary Wharf London, E14 9UD
Page 4
YUNUS EMRE ENSTITUSU Company limited by guarantee
Statement of financial activities for the year ended 30 June 2023
| **Unrestricted ** | Restricted | Restricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | Funds | Funds | ||||||
| 2023 | 2022 | ||||||||
| Notes | £ | £ | £ | £ | |||||
| Incoming resources | |||||||||
| Grants | 2 | 222,500 | - | 222,500 | 253,000 | ||||
| Incoming resources from charitable activities: | |||||||||
| Operation of educational and arts centre | 2 | 76,545 | - | 76,545 | 71,065 | ||||
| Income from other trading activities: | |||||||||
| Other income | 41,296 | 41,296 | 31,396 | ||||||
| Total incoming resources | 340,341 | - | 340,341 | 355,461 | |||||
| Resources expended | |||||||||
| Cost of generating funds: | |||||||||
| Operation of educational and arts centre | (88,946 | ) | - | (88,946 | ) | (84,428 | ) | ||
| Charitable activities | (31,400 | ) | - | (31,400 | ) | - | |||
| Administrative costs | 3 | (259,803 | ) | - | ) (259,803 |
(257,408 | ) | ||
| Total resources expended | (380,149 | ) | - | ) (380,149 |
(341,836 | ) | |||
| Net incoming resources before | |||||||||
| other recognised gains/ losses | (39,808 | ) | - | (39,808 | ) | 13,625 | |||
| Retained funds brought forward | 54,234 | - | 54,234 | 40,609 | |||||
| Retained funds carried forward | 14,426 | - | 14,426 | 54,234 | |||||
| Year | Year | ||||||||
| Statement of total recognised gains and losses | ended | ended | |||||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Net incoming resources | |||||||||
| before other recognized gains/losses | (39,808 | ) | - | (39,808 | ) | 13,625 | |||
| Total recognised losses/gains since last annual report | (39,808 | ) | - | (39,808 | ) | 13,625 |
The notes on pages 7 to 8 form an integral part of these financial statements.
Page 5
YUNUS EMRE ENSTITUSU Company limited by guarantee
Balance sheet as at 30 June 2023
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Net assets Funds Unrestricted income funds 5 Total funds 6 |
2023 £ 21,671 21,671 ) (7,245 |
£ 14,426 14,426 14,426 14,426 14,426 |
2022 £ 57,629 57,629 ) (3,395 |
£ 54,234 |
|---|---|---|---|---|
| 54,234 | ||||
| 54,234 | ||||
| 54,234 | ||||
| 54,234 |
The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit of the accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the Board on and signed on its behalf by
Trustee
Registration number 10261522
The notes on pages 7 to 8 form an integral part of these financial statements.
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YUNUS EMRE ENSTITUSU Company limited by guarantee
Notes to the financial statements for the year ended 30 June 2023
1. Accounting policies
1.1. Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
1.2. Incoming resources
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
2. Income
The total income of the charity for the year has been derived from grants from Turkish charities and operation of theatre and arts centre which were wholly undertaken in the UK.ertaken in the UK.
Unrestricted
| Unrestricted | ||
|---|---|---|
| Funds | ||
| Year | Year | |
| ended | ended | |
| 30/06/23 | 30/06/22 | |
| Grants | 222,500 | 253,000 |
| Course fee | 76,545 | 71,065 |
| Other income | 41,296 | 31,396 |
| 340,341 | 355,461 |
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YUNUS EMRE ENSTITUSU Company limited by guarantee
Notes to the financial statements for the year ended 30 June 2023
| .................... continued | .................... continued | |||
|---|---|---|---|---|
| Unrestricted | ||||
| Funds | ||||
| Year | Year | |||
| ended | ended | |||
| 3. | Administration Expenses | 2023 | 2022 | |
| £ | £ | |||
| Salaries and wages | 160,960 | 174,395 | ||
| Employer's NI contributions | 8,400 | 10,533 | ||
| Management expenses | 4,845 | 6,628 | ||
| Light and heat | 6,054 | 5,607 | ||
| Rates | 26,493 | 28,172 | ||
| Repairs and maintenance | 2,622 | 2,077 | ||
| Printing, postage and stationery | 13,670 | 9,829 | ||
| Telephone and fax | 5,229 | 4,547 | ||
| Legal and professional fees | 7,344 | 3,193 | ||
| Advertising | 2,963 | 5,319 | ||
| Travelling and subsistence | 17,875 | 3,524 | ||
| Insurance | 3,349 | 3,583 | ||
| 259,803 | 257,407 | |||
| 4. | Creditors: amounts falling due | 2023 | 2022 | |
| within one year | £ | £ | ||
| Other taxes and social security costs | 6,290 | 2,440 | ||
| Accruals and deferred income | 955 | 955 | ||
| 7,245 | 3,395 | |||
| 5. | Funds | |||
| Unrestricted | Total | |||
| Funds | ||||
| £ | £ | |||
| At 1 July 2022 | 54,234 | 54,234 | ||
| Net loss for the year | ) (39,808 |
) (39,808 |
||
| At 30 June 2023 | 14,426 | 14,426 |
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YUNUS EMRE ENSTITUSU Company limited by guarantee
Notes to the financial statements
for the year ended 30 June 2023
.................... continued
| 6. Reconciliation of movements in total trust funds Incoming resources for the year Net addition to funds Opening trust funds Closing trust funds |
2023 £ ) (39,808 ) (39,808 54,234 14,426 |
2022 £ 13,625 |
|---|---|---|
| 13,625 40,609 |
||
| 54,234 |
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