2023-03-31-accounts - Turkish Student Union Of UK

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

TURKISH STUDENTUNION OF UK

Charity No. 1189126

Company No. 09973479

Trustees' Report and Unaudited Accounts

31 March 2023

TURKISH STUDENTUNION OF UK Contents

	Pages
Trustees' Annual Report	2 to 4
Independent Examiner's Report	5 to 5
Statement of Financial Activities	6 to 6
Summary Income and Expenditure Account	7 to 7
Balance Sheet	8 to 8
Statement of Cash flows	9 to 9
Notes to the Accounts	10 to 13
Detailed Statement of Financial Activities	14

Page 1

TURKISH STUDENTUNION OF UK Trustees Annual Report

TUSU

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 09973479

Charity No. 1189126

Principal Office

Flat 92 Williamson Heights 5 South Way Wembley England HA9 0JZ

Registered Office

Flat 92 Williamson Heights 5 South Way Wembley HA9 0JZ

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

H. DURAN A. GUN M.A. TUNAY (Resigned 5 April 2022)

Directors of Corporate Trustees

HUSEYIN DURAN

AYBUKE GUN

Accountants

Singletree Accountants Ltd 10-12 Lumina Way Enfield EN1 1FS

Bankers

Natwest Bank PLC

OBJECTIVES AND ACTIVITIES

Page 2

TURKISH STUDENTUNION OF UK

Trustees Annual Report

As TUSU, our main goal is to support the educational needs for all students across all nations and beliefs. We primarily support those living in the UK to improve their higher educational and cognitive skills. There are many skills which students will need to gain when going through the UK higher education system which includes how to research, gather data, manipulate data, using various software like SPSS, how undertake and complete essay, coursework, reports and presentations which includes VIVA preparations. TUSU has a charitable intention which is to help students to enhance their educational backgrounds in line with the UK educational needs for free. For this reason, in our events, workshops and seminars concentrate on activities that support life-long learning.To advance the education of students in the UK, and in particular (but not exclusively) those of Turkish origin, through the provision of activities, workshops, seminars and conferences which support their learning and help them adapt to the UK educational system and academic life. The participants can easily be aware of our events through social media, emails and other group networking platforms. As stated above, as TUSU we plan and initiate our own events, the speakers are usually chosen based on our participants wants and needs. There many advantages of TUSU events. All the participants, as both individuals or in a group, have access to knowledge and networking facilities. This will enhance student's educational skills and deepen their understanding. Therefore, it has a positive impact on students' overall performance and self-reliance. Students improve their personal knowledge through human rights awareness and personal evolution. TUSU is also in contact with other student organisations, students can also participate in the events of other organisations. TUSU also support students applying to postgraduate studies, including Master's and PhO programme. All TUSU events are held.in English. Students are encouraged to ask questions and exchange opinions which improves the participants ability to fit in with the English education system. Students also benefit from group mentoring as well as one-to-one support and development. The events are planned in an inclusive way, via meetings at the beginning of each academic year through brainstorming amongst all members. TUSU will then calculate budget for each planned event and based on the order of events, all required materials will then be obtained. Due to close relations with various universities based across London and throughout the UK, our events are usually taking place in university lecture theatres. TUSU is beneficial to all, predominantly to those students which find it difficult to adapt to the UK educational system or the academic life. Our main priority is to have a platform where we can provide enough educational support to all students via integration and coalition amongst all background and belief.

FINANCIAL REVIEW

A review of the charity's financial position at the year end 31 March 2023

The principal funding sources of the charity and how it supports the charity's key objectives are sponsorships from local businesses.

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 Companies Act 2006. The Trustees 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 above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Page 3

TURKISH STUDENTUNION OF UK Trustees Annual Report

H. DURAN Trustee 31 March 2023

Page 4

TURKISH STUDENTUNION OF UK Independent Examiners Report

Independent Examiner's Report to the trustees of TURKISH STUDENTUNION OF UK

I report to the charity trustees on my examination of the financial statements of TURKISH STUDENTUNION OF UK for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) 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 Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under 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
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.

ALI TEKAGAC, FMAAT, AATQB, CPA AAT LICENSED ACCOUNTANT Singletree Accountants Ltd 10-12 Lumina Way Enfield

EN1 1FS 31 March 2023

Page 5

TURKISH STUDENTUNION OF UK Statement of Financial Activities

for the year ended 31 March 2023

Unrestricted funds 2023 £ 44,222	Total funds 2023 £ 44,222	Total funds 2022 £ 1,246
44,222 33,797	44,222 33,797	1,246 -
33,797 -	33,797 -	- -
10,425 -	10,425 -	1,246 -
10,425	10,425	1,246
10,425 1,298	10,425 1,298	1,246 52
11,723	11,723	1,298

Page 6

TURKISH STUDENTUNION OF UK Summary Income and Expenditure Account

for the year ended 31 March 2023

Income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year	2023 £ 44,222 44,222 33,797 33,797 10,425 10,425	2022 £ 1,246
		1,246
		-
		-
		1,246
		1,246

Page 7

TURKISH STUDENTUNION OF UK Balance Sheet

at 31 March 2023

at 31 March 2023
Company No. 09973479 Notes 2023 £ Current assets Cash at bank and in hand 11,723 11,723 Net current assets 11,723 Total assets less current liabilities 11,723 Net assets excluding pension asset or liability 11,723 Total net assets 11,723 The funds of the charity Restricted funds 7 Unrestricted funds 7 General funds 11,723 11,723 Reserves 7 Total funds 11,723	2022 £ 1,298
	1,298
	1,298 1,298
	1,298
	1,298
	1,298
	1,298
	1,298

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2023 the company was entitled to exemption under section 477 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 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 March 2023

And signed on its behalf by:

H. DURAN Trustee 31 March 2023

Page 8

TURKISH STUDENTUNION OF UK Statement of Cash flows for the year ended 31 March 2023

Cash flows from operating activities Net income per Statement of Financial Activities Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2023 £ 10,425 10,425 - - 10,425 1,298 11,723 11,723 11,723	2022 £ 1,246
		1,246
		-

		-

		1,246
		52
		1,298

		1,298

		1,298

Page 9

TURKISH STUDENTUNION OF UK Notes to the Accounts

for the year ended 31 March 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

TURKISH STUDENTUNION OF UK Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 11

TURKISH STUDENTUNION OF UK

Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds 2022 £ 1,246 1,246 1,246 1,246 1,246 52 1,298	Total funds 2022 £ 1,246
		1,246
		1,246
		1,246
		1,246 52
		1,298

4 Income from donations and legacies

Unrestricted £ 44,222 44,222	Total 2023 £ 44,222 44,222	Total 2022 £ 1,246
		1,246

Donations received from the public for the earthquake dated 06/02/2023 and sent to AFAD and AHBAP charities in Türkiye via Bank Account.

5 Other expenditure

Unrestricted £ 33,797 33,797	Total 2023 £ 33,797 33,797	Total 2022 £ -
		-

6 Staff costs

No employee received emoluments in excess of £60,000.

Page 12

TURKISH STUDENTUNION OF UK

Notes to the Accounts

7 Movement in funds

Incoming resources (including other gains/losses ) £ 44,222 44,222 At 1 April 2022 £	Resources expended £ (33,797) (33,797) Unrestricted funds £ 11,723 11,723 Cash flows £	At 31 March 2023 £ 11,723
		11,723
		Total £ 11,723
		11,723
		At 31 March 2023 £
1,298	10,425	11,723
1,298 1,298	10,425 10,425	11,723
		11,723

10 Related party disclosures Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 13

TURKISH STUDENTUNION OF UK Detailed Statement of Financial Activities

for the year ended 31 March 2023

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Other expenditure Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds 2023 £ 44,222 44,222 44,222 33,797 33,797 33,797 33,797 - 10,425 10,425 - 10,425 1,298 11,723	Total funds 2023 £ 44,222 44,222 44,222 33,797 33,797 33,797 33,797 - 10,425 10,425 - 10,425 1,298 11,723	Total funds 2022 £ 1,246
			1,246
			1,246 -
			-
			-
			- -
			1,246
			1,246 -
			1,246
			52
			1,298

Page 14