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2022-09-30-accounts

Registered number 10398783 Charity Registeration number 1190815

MENTOR WISE

Report and Accounts

30 September 2022

MENTOR WISE Report and accounts Contents

Page
Company information 1
Directors' report 2-3
Accountants'/Examiners' report 4
Profit and loss account 5
Balance sheet 6
Statement of changes in equity 7
Notes to the accounts 8

MENTOR WISE Company Information

Directors

HUSEYIN FATIH ADAK YUSUF DEMIR KAZIM KORHAN MISIRLIOGLU FEYZA USTUNDAG

Accountants

AA ACCOUNTANCY SERVICES 244 Chase Road London N14 6HH

Registered office 337 Fore Street London N9 0NU

Registered number 10398783

Charity Registeration number 1190815

1

MENTOR WISE Registered number: 10398783 Director/Trustees' Report

The director/trustees present their report and accounts for the year ended 30 September 2022. 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. 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 2015).

Objectives And Activities

The company's principal activity during the year continued to be providing mentoring services. This is a limited by guarantee company which is non profit making company and also a charity.

Charitable objects

  1. To promote for the public benefit and by all charitable means the mental, spiritual, moral and physical development and improvement of young people and to provide opportunities for them to develop their full capacities and enable them to become responsible members of society so that their conditions of life may be improved. 2. For the public benefit to promote the education of people under the age of 25 years in such ways as the charity trustees think fit, including by developing their mental, physical, spiritual and moral capabilities through leisure time activities. 3. To advance the islamic faith for the benefit of the public, mainly but not exclusively, by the provision of islamic study courses to enlighten others about the islamic faith.

Public benefit

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

FINANCIAL REVIEW

Reserves policy

The charity currently has no reserves policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is constituted as a company limited by guarantee, registered under the Companies Act, and its governing documents is a Memorandum and Articles of Association under company legislation.

The governing document is dated 28 September 2016, and was amended by special resolution at Companies House on 29 April 2020.

By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibility as such under both company and charity legislation.

The trustees are all individuals.

Recruitment and appointment of new trustees

New charity trustees are appointed by existing charity trustees.

Directors

The following persons served as directors during the year:

HUSEYIN FATIH ADAK YUSUF DEMIR KAZIM KORHAN MISIRLIOGLU FEYZA USTUNDAG

2

MENTOR WISE Registered number: 10398783 Director/Trustees' Report

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 3 June 2023 and signed on its behalf.

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Kazim Orhan Misirlioglu
Director
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3

MENTOR WISE Accountants' Report

INDEPENDENT EXAMINER'S REPORT TO TRUSTEES OF THE CHARITY ABOVE

I report on the accounts of the trust for the year ended 30 September 2022, which are set out on pages 5 to 12.

Respective responsibilities of trustees and examiner

The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 seeking 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 accounts.

Independent examiner's statement

In the course of my examination, no matter has come to my attention

(1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:

AA ACCOUNTANCY SERVICES

Chartered Certified Accountant

03/06/2023

244 Chase Road London N14 6HH

4

MENTOR WISE STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

Income
Direct Charitable expenditure
Gross Surplus
Administrative expenses
Other operating income
Operating Surplus
Surplus before taxation
Tax on Surplus
Surplus for the financial year		 2022
£
120,622
(15,047)
105,575
(107,744)
6,674
4,505
4,505
-
4,505		 2021
£
75,199
(20,236)
54,963
(54,865)
-
98
98
-
98

5

MENTOR WISE

Registered number: 10398783 Balance Sheet as at 30 September 2022

Notes
Fixed assets
Tangible assets
3
Current assets
Stocks
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due
within one year
5
Net current assets
Net assets
Capital and reserves
Profit and loss account
Shareholder's funds		 2022
£
108
4,500
7,012
18,506
30,018
(12,541)
17,477
17,585
17,585
17,585		 2021
£
108
-
10,087
9,831
19,918
(6,946)
12,972
13,080
13,080
13,080

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

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.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Kazim Orhan Misirlioglu Director Approved by the board on 3 June 2023

6

MENTOR WISE

Statement of Movement in Funds for the year ended 30 September 2022

Restricted
Funds
£
At 1 October 2020
-
Surplus for the financial year
At 30 September 2021
-
At 1 October 2021
-
Surplus for the financial year
At 30 September 2022
-		 Unrestricted
Funds
£
12,982
98
13,080
13,080
4,505
17,585		 Total
Funds
£
12,982
98
13,080
13,080
4,505
17,585

7

MENTOR WISE Notes to the Accounts for the year ended 30 September 2022

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Intangible fixed assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

8

MENTOR WISE Notes to the Accounts for the year ended 30 September 2022

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Leased assets

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

9

MENTOR WISE

Notes to the Accounts

for the year ended 30 September 2022

2
Employees
Average number of persons employed by the company
3
Tangible fixed assets
Cost
At 1 October 2021
At 30 September 2022
Depreciation
At 1 October 2021
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021
4
Debtors
Other debtors
5
Creditors: amounts falling due within one year
Taxation and social security costs
Other creditors		 2022
Number
3
2022
£
7,012
2022
£
2,254
10,287
12,541		 2021
Number
3
Plant and
machinery
etc
£
135
135
27
27
108
108
2021
£
10,087
2021
£
973
5,973
6,946

6 Other information

MENTOR WISE is a private company limited by guarantee and incorporated in England. Its registered office is: 337 Fore Street London N9 0NU

10

MENTOR WISE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

This schedule does not form part of the statutory accounts

Income
Direct Charitable expenditure
Gross Surplus
Administrative expenses
Other operating income
Operating Surplus
Surplus before tax		 2022
£
120,622
(15,047)
105,575
(107,744)
6,674
4,505
4,505		 2021
£
75,199
(20,236)
54,963
(54,865)
-
98
98

11

MENTOR WISE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

This schedule does not form part of the statutory accounts

INCOME AND ENDOWMENTS
Donation
Grants Unrestricted
Other Income
Sales
Direct Charitable expenditure
Purchases
Meeting and event expenses
Mentoring expenses
Decrease/increase in stocks
Administrative expenses
Employee costs:
Wages and salaries
Directors' salaries
Pensions
Employer's NI
Staff training and welfare
Travel and subsistence
Premises costs:
Rent
General administrative expenses:
Telephone and fax
Postage
Stationery and printing
Subscriptions
Insurance
Equipment expensed
Equipment hire
Software
Repairs and maintenance
Depreciation
Sundry expenses
Legal and professional costs:
Accountancy fees
Consultancy fees
Advertising and PR
Other legal and professional
Other operating income
Other operating income		 2022
£
17,518
53,601
-
49,503
120,622
18,787
360
400
(4,500)
15,047
26,303
10,201
-
1,719
4,968
28,332
71,523
29,690
29,690
672
37
552
11
828
2,900
-
281
4
-
15
5,300
600
-
80
551
1,231
107,744
6,674		 2021
£
6,484
9,326
19,826
39,563
75,199
9,562
1,053
9,621
-
20,236
33,478
12,258
271
1,798
224
-
48,029
1,760
1,760
744
-
125
393
518
-
147
335
56
27
13
2,358
600
1,836
-
282
2,718
54,865
-

12

MENTOR WISE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

This schedule does not form part of the statutory accounts

2022 2021
£ £

13