Registered number 10398783 Charity Registeration number 1190815
## MENTOR WISE
Report and Accounts
30 September 2024
## **MENTOR WISE Report and accounts Contents**
||**Page**|
|---|---|
|Company information|1|
|Directors' report|2-3|
|Accountants' 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**
YUSUF DEMIR YUSUF KAR FEYZA USTUNDAG TUGBA SAGLAM TUGBA CANDEMIR
## **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 2024. 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:
YUSUF DEMIR YUSUF KAR FEYZA USTUNDAG TUGBA SAGLAM TUGBA CANDEMIR
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 28 May 2025 and signed on its behalf.
Feyza USTUNDAG Director
3
## **MENTOR WISE**
## **Report to the directors on the preparation of the unaudited statutory accounts of MENTOR WISE for the year ended 30 September 2024**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MENTOR WISE for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
AA ACCOUNTANCY SERVICES Chartered Certified Accountants 244 Chase Road London N14 6HH
28 May 2025
4
## **MENTOR WISE**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2024**
|**Income**
Direct Charitable expenditure
**Gross Surplus**
Administrative expenses
Other operating income
**Operating Surplus**
**Surplus before taxation**
Tax on Surplus
**Surplus for the financial year**|**2024**
**£**
295,798
(31,953)
263,845
(270,979)
14,176
7,042
7,042
-
7,042|**2023**
**£**
196,688
(68,922)
127,766
(125,601)
2,494
4,659
4,659
-
4,659|
|---|---|---|
5
## **MENTOR WISE Registered number:** 10398783 **Balance Sheet as at 30 September 2024**
|**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**|**2024**
**£**
1,099
13,600
35
29,192
42,827
(14,640)
28,187
29,286
29,286
29,286|**2023**
**£**
81
25,450
34
15,427
40,911
(18,748)
22,163
22,244
22,244
22,244|
|---|---|---|
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.
Feyza USTUNDAG Director Approved by the board on 28 May 2025
6
## **MENTOR WISE**
## **Statement of Movement in Funds for the year ended 30 September 2024**
|**Restricted**
**Funds**
**£**
**At 1 October 2022**
-
Surplus for the financial year
**At 30 September 2023**
-
**At 1 October 2023**
-
Surplus for the financial year
**At 30 September 2024**
-|**Unrestricted**
**Funds**
**£**
17,585
4,659
22,244
22,244
7,042
29,286|**Total**
**Funds**
**£**
17,585
4,659
22,244
22,244
7,042
29,286|
|---|---|---|
7
**MENTOR WISE Notes to the Accounts for the year ended 30 September 2024**
## **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 2024**
## _**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 2024**
|**2**
**Employees**
Average number of persons employed by the company
**3**
**Tangible fixed assets**
**Cost**
At 1 October 2023
Additions
At 30 September 2024
**Depreciation**
At 1 October 2023
Charge for the year
At 30 September 2024
**Net book value**
At 30 September 2024
At 30 September 2023
**4**
**Debtors**
Other debtors
**5**
**Creditors: amounts falling due within one year**
Trade creditors
Taxation and social security costs
Other creditors|**2024**
**Number**
26
**2024**
**£**
35
**2024**
**£**
4,253
3,181
7,206
14,640|**2023**
**Number**
13
**Plant and**
**machinery**
**etc**
**£**
135
1,268
1,403
54
250
304
1,099
81
**2023**
**£**
34
**2023**
**£**
6,076
1,524
11,148
18,748|
|---|---|---|
## **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 2024**
_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**|**2024**
**£**
295,798
(31,953)
263,845
(270,979)
14,176
7,042
7,042|**2023**
**£**
196,688
(68,922)
127,766
(125,601)
2,494
4,659
4,659|
|---|---|---|
11
## **MENTOR WISE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2024**
_This schedule does not form part of the statutory accounts_
|**INCOME AND ENDOWMENTS**
Donation
Fees
Grants Unrestricted
Sales
**Direct Charitable expenditure**
Purchases
Meeting and event expenses
Decrease/increase in stocks
**Administrative expenses**
Employee costs:
Wages and salaries
Directors' salaries
Employer's NI
Bursary
Staff training and welfare
Training
Travel and subsistence
Motor expenses
Premises costs:
Rent
General administrative expenses:
Telephone and fax
Postage
Stationery and printing
Donation
Subscriptions
Insurance
Equipment expensed
Software
Depreciation
Sundry expenses
Legal and professional costs:
Accountancy fees
Advertising and PR
Other legal and professional
**Other operating income**
Other operating income|**2024**
**£**
71,040
157,244
67,514
-
295,798
20,103
-
11,850
31,953
180,506
6,375
4,912
-
700
9,109
12,509
-
214,111
49,338
49,338
732
-
205
-
-
1,561
301
220
250
35
3,304
750
2,790
686
4,226
270,979
14,176|**2023**
**£**
67,171
-
47,779
81,738
196,688
89,747
125
(20,950)
68,922
68,815
11,381
2,466
4,050
544
-
1,170
185
88,611
31,180
31,180
1,128
19
667
1,500
18
843
66
191
27
15
4,474
600
147
589
1,336
125,601
2,494|
|---|---|---|
12