Trustees Annual Report 2023-2024 Charity Reg Number: 1203289
Trustees' Annual Report
Shura Trust CIO
Charity Number: 1203289
Reporting period: 1 July 2023 – 30 June 2024
CONTENTS
1. Legal and Administrative Information ................................................................................................. 2 2. Structure, Governance and Management ............................................................................................ 3 3. Objectives and Public Benefit .................................................................................................................... 3 4. Activities and Achievements (2023–2024) ........................................................................................ 4 5. Use of Volunteers .............................................................................................................................................. 4 6. Financial Review ............................................................................................................................................... 5 7. Risk Management ............................................................................................................................................. 5 8. Plans for Future Periods ............................................................................................................................... 5 9. Statement of Trustees’ Responsibilities ............................................................................................... 5 11. Annual Accounts ............................................................................................................................................. 6
Trustees Annual Report 2023-2024 Charity Reg Number: 1203289
1. Legal and Administrative Information
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Registered Name: Shura Trust CIO
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Date of Registration : 26 May 2023
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Registered Office: 128 Percy Road, Leicester, LE2 8FN
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Other operational addresses:
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10 Watsons House, 120 Nuttall Street, London, N1 5LL
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179 Lower Braniel Road, Belfast, BT5 7NP
- Trustees for the period of report:
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Mr Mehmet Veysi Yildiz (Chair)
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Mr Aykan Toma
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Mr Husameddin Ates
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Mr Muhammed Cicekci
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Mr Mehmet Cicek
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Mr Engin Karacobanoglu
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Mr Volkan Kaya
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Mr Engin Kaya
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Mr Enser Eksi
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Mr Sahin Turetken
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Mr M Said Bilal
- Independent Examiner: Affirm Accountants Ltd, The Old Courthouse, 18–22 St Peters Church Yard, Derby DE1 1NN
- Bank : Application to NatWest Bank (pending confirmation)
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Trustees Annual Report 2023-2024 Charity Reg Number: 1203289
2. Structure, Governance and Management
Shura Trust CIO is governed by its constitution adopted upon registration as a charitable incorporated organisation.
Trustees are responsible for strategic direction and financial oversight. All trustees serve voluntarily and meet regularly. Subcommittees have not yet been formally established but are considered in future planning.
The CIO was established to take over the already existing charitable trust, namely Shura Trust (reg no. 1165955), within two years of slow transfer of funds and belongings. The plan is to keep both charities in the short term but keep the CIO for the base of the ongoing services. The fate of the Trust will be decided after the full transition. Our accounts for the first two years is reflected in the Trust account. Therefore, the accounts of the CIO reflect zero income and expenditure.
3. Objectives and Public Benefit
Charitable Objects:
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To enhance public understanding of Islam through educational and religious programmes.
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To promote interfaith harmony and mutual understanding.
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To foster social inclusion by supporting marginalized members of the Muslim community in the UK.
Public Benefit Statement:
The trustees confirm they have complied with the Charity Commission’s guidance on public benefit, particularly in the advancement of religion and the promotion of social inclusion. They believe that the charity's activities have demonstrably benefited a broad spectrum of the public, particularly through educational programmes, community-building events, and accessible reading groups across the UK. By fostering understanding of Islamic teachings and values in both Turkish and English, as well as promoting interfaith harmony and addressing the social needs of marginalised individuals, the charity has contributed meaningfully to the cohesion and enrichment of society. All activities are open to the public and designed to be inclusive, with special attention to youth, women, and individuals who may otherwise be isolated or underserved.
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Trustees Annual Report 2023-2024
Charity Reg Number: 1203289
4. Activities and Achievements (2023–2024)
Weekly Reading Circles
Held in 13 cities across the UK in Turkish and English, focusing on spirituality, philosophy, and community cohesion. These cities include: London, Birmingham, Brighton, Bournemouth, Leicester, Coventry, Oxford, Cambridge, Ipswich, Glasgow, Edinburgh, Yeovil, and Nottingham. These circles have fostered meaningful dialogue and deepened participants’ understanding of faith in modern contexts. They also helped form lasting community bonds and empowered attendees to lead sessions independently.
Online Activities
Growth in English-language online sessions, including a new, fast-growing women’s reading group. These sessions provided a flexible and accessible way for people to engage regardless of their geographic location. The women’s group, in particular, created a safe and empowering space for spiritual and intellectual growth.
Online Book Shop
Our online bookshop continues to be a valuable resource for participants to purchase reading materials and recommended books. It also enables the wider public to access curated titles that align with the charity’s values. The shop has become a supplementary learning tool for readers across the UK.
Social Gatherings
Eid events, picnics, tea gatherings, and informal meetings facilitated deeper community connection. These gatherings played a key role in reducing social isolation and fostering a family-friendly environment. Participants consistently expressed gratitude for the welcoming and relaxed atmosphere.
Reading Retreats
A winter retreat was organized in Derbyshire and Cambridge, enabling intellectual reflection and meaningful engagement. Several readers joined and enjoyed their holiday in a calm and intellectually rich environment. The retreats allowed participants to disconnect from daily distractions and reconnect with deeper intellectual and spiritual themes. They also served as an opportunity to build lasting friendships in a serene setting.
5. Use of Volunteers
Volunteers were key in facilitating reading circles, organising events, and managing logistics for retreats. Trustees also operate entirely on a voluntary basis. Many volunteers dedicated personal time and skills to ensure smooth delivery of services across the UK. Their contribution has been instrumental in maintaining the charity’s grassroots spirit and expanding its reach.
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Trustees Annual Report 2023-2024
Charity Reg Number: 1203289
6. Financial Review
Income: [£0} Expenditure: [£0]
Banking: A NatWest account application is in progress.
Reserves Policy: The charity aims to maintain a minimum reserve equal to three months’ operating costs. No designated funds at present.
7. Risk Management
The trustees have considered risks including safeguarding, data protection, financial management, and reputational risk. Internal controls and safeguarding policies are under review for formal adoption.
8. Plans for Future Periods
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Renovation of 128 Percy Road Leicester and commencement of refurbishment at 10 Watsons House London
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Expanding online and in-person sessions, particularly for youth and women
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Participation in book fairs and educational forums
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Hiring permanent premises in London for sustained operations
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Continue supporting community events, online platforms, and youth initiatives
9. Statement of Trustees’ Responsibilities
The trustees are responsible for ensuring that:
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Proper accounting records are kept
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Annual reports and accounts are prepared in accordance with applicable law and SORP guidance
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Assets are safeguarded
Approved by the Board of Trustees on 30 June 2024 and signed on its behalf by:
Mehmet Veysi YILDIZ
Chair of Trustees
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Trustees Annual Report 2023-2024 Charity Reg Number: 1203289
11. Annual Accounts
Statement of Financial Activities (SOFA)
for the year ended 30 June 2024
|| Income|| Unrestricted Funds | Restricted Funds | Total ||| Unrestricted Funds | Restricted Funds | Total ||| Unrestricted Funds | Restricted Funds | Total ||
|---|---|---|---|
|| Donations & grants|| £0
|| £0|| £0 ||
|| Other income|| £0
|| £0|| £0 ||
|| Total income|| £0
|| £0|| £0 ||
|| Expenditure|| Unrestricted Funds | Restricted Funds | Total ||| Unrestricted Funds | Restricted Funds | Total ||| Unrestricted Funds | Restricted Funds | Total ||
|---|---|---|---|
|| Charitable activities|| £0
|| £0|| £0 ||
|| Governance|| £0
|| £0|| £0 ||
|| Total expenditure|| £0
|| £0|| £0 ||
Net movement in funds: £0 Funds brought forward: £0 Funds carried forward: £190,000 *(in form of property)[1]
1 Note: Although classified under "Unrestricted Funds" for accounting purposes, the £190,000 figure represents the value of a fixed asset (128 Percy Road property) rather than a cash reserve or general donation.
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Trustees Annual Report 2023-2024
Charity Reg Number: 1203289
Balance Sheet
as of 30 June 2024
| Fixed assets | £ | Property at 128 Percy Road | 175,000 | Total fixed assets | 175,000 | Current assets | 0 | Liabilities | 0 | Net assets | 175,000 |
Represented by:
Unrestricted funds: £175,000
Restricted funds: £0
These accounts have been prepared on a receipts and payments basis and reflect only the asset currently held by the charity.
12. Independent Examiner’s Report
As there were no income or expenditure transactions during this reporting period for Shura Trust CIO, an independent examiner’s report was not prepared separately. Instead, the examination was conducted as part of the financial review of the original charity, Shura Trust (Reg. no. 1165955), covering the same reporting period. Please see the TAR of the Shura Trust for this period for the detailed financial statements.
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