Trustees Annual Report **2024-2025** Charity Reg Number: **1203289**
# **Trustees' Annual Report**
# **Shura Trust CIO**
Charity Number: 1203289
Reporting period: 1 July 2024 – 30 June 2025
## **CONTENTS**
**1. Legal and Administrative Information** ................................................................................................. 2 **2. Structure, Governance and Management** ............................................................................................ 3 **3. Objectives and Public Benefit** .................................................................................................................... 3 **4. Activities and Achievements (2024–2025)** ........................................................................................ 4 **5. Use of Volunteers** .............................................................................................................................................. 5 **6. Financial Review** ............................................................................................................................................... 5 **7. Risk Management** ............................................................................................................................................. 5 **8. Plans for Future Periods** ............................................................................................................................... 5 **9. Statement of Trustees’ Responsibilities** ............................................................................................... 5 **11. Annual Accounts** ............................................................................................................................................. 7
Trustees Annual Report **2024-2025** Charity Reg Number: **1203289**
## **1. Legal and Administrative Information**
- **Registered Name:** Shura Trust CIO
- **Date of Registration** : 26 May 2023
- **Registered Office:** 128 Percy Road, Leicester, LE2 8FN
- **Other operational addresses:**
- 10 Watsons House, 120 Nuttall Street, London, N1 5LL
- 179 Lower Braniel Road, Belfast, BT5 7NP
## **- Trustees for the period of report:**
1. Mr Mehmet Veysi Yildiz (Chair)
2. Mr Husameddin Ates
3. Mr Mehmet Cicek
4. Mr Engin Karacobanoglu
5. Mr Sahin Turetken
**- Accountant:** 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 **2024-2025**
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:**
- To enhance public understanding of Islam through educational and religious programmes.
- To promote interfaith harmony and mutual understanding.
- 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 **2024-2025**
Charity Reg Number: **1203289**
## **4. Activities and Achievements (2024–2025)**
**Face-face reading sessions:** Reading sessions continued across 13 cities in the UK: London, Birmingham, Brighton, Bournemouth, Leicester, Coventry, Oxford, Cambridge, Ipswich, Glasgow, Edinburgh, Yeovil, and Nottingham. Sessions are held in both Turkish and English and provide a valuable forum for sharing insights on social and philosophical matters. A highlight of this year was the significant growth of the Leicester centre. Activity at the centre increased substantially, with a new weekly Tuesday session — the '25th Word Reading and Discussion' — initiated by a newly resident member of the community. This session has proven particularly engaging and inspiring, attracting consistent attendance and is projected to continue throughout the coming year. Ladies also began making greater use of the centre, meeting every Wednesday for their dedicated activities.
**Online classes:** The sessions continue with increasing interest specifically in English language. They are more convenient for the participants who live away from any face to face joining to reading session. A new Ladies session has started and grow very quickly with quality participation.
**Online Book Shop:** The online book shop continues and is a good portal for sales of resources that we use in our reading circles.
**Reading retreats:** A reading retreat was held in May 2025 in North Cumbria, bringing together a select group of young thinkers for one week. The retreat took place in a calm and intellectually enriching environment and proved highly fruitful for the personal and intellectual development of its participants. Full details are provided in the Reading Retreat section.
**Refurbishments:** Significant refurbishment work was carried out this year at 128 Percy Road, Leicester, LE2 8FN, which had been initiated in June 2024. Building maintenance expenditure for this period totalled £25,843, reflecting the scale of renovation undertaken. The works have substantially improved the premises for use by the local community. This refurbishment work includes a full renovation of the ground floor, which includes, the entry, living room, kitchen and patio.
**Temporary Workers:** The Trust initiated a new strategy of bringing temporary religious workers from Turkey. With a newly acquired Sponsorship licence we are planning to bring necessary support from abroad through immigration channels. These are special individuals that are called as ‘VAKIF’ within our community. They volunteer and sacrifice some periods of their lives for the support of the charitable
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Trustees Annual Report **2024-2025**
Charity Reg Number: **1203289**
works. In 2025, our first religious worker arrived at Belfast centre. The maximum amount of time they can stay is 2 years. After 2 years, they should either switch into minister of religion visa to continue as a major role in the UK or return back to Turkey.
## **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.
## **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**
- Renovation of 128 Percy Road Leicester and commencement of refurbishment at 10 Watsons House London
- Expanding online and in-person sessions, particularly for youth and women
- Participation in book fairs and educational forums
- Hiring permanent premises in London for sustained operations
- 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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Trustees Annual Report **2024-2025**
Charity Reg Number: **1203289**
- Proper accounting records are kept
- Annual reports and accounts are prepared in accordance with applicable law and SORP guidance
- Assets are safeguarded
Approved by the Board of Trustees on 28 April 2026 and signed on its behalf by:
Mehmet Veysi YILDIZ
Chair of Trustees
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Trustees Annual Report **2024-2025** Charity Reg Number: **1203289**
## **11. Annual Accounts**
## **Statement of Financial Activities (SOFA)**
for the year ended 30 June 2025
|| 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: £175,000 *(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 **2024-2025**
Charity Reg Number: **1203289**
## **Balance Sheet**
as of 30 June 2025
| 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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