## **REGISTERED CHARITY NUMBER:  271146** 

**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024 FOR TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

**MG GROUP (PROFESSIONAL SERVICES) LTD CHARTERED ACCOUNTANTS** 

**166 COLLEGE ROAD HARROW MIDDLESEX HA1 1BH** 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

|Report of the Trustees<br>Independent Examiner’s Report<br>Statement of Financial Activities<br>Balance Sheet<br>Notes to the Financial Statements|Page<br>1 - 6<br>7<br>8<br>9<br>10 – 17|
|---|---|



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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **REPORT OF THE TRUSTEES** 

## **FOR THE YEAR ENDED 31[st] MAY 2024** 

The trustees present their report with the financial statements of the charity for the year ended 31[st] May 2024. 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). 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

**Registered Charity Number** :  271146 

## **Principal Address** 

4 Willoughby Road Hornsey London N8 0HR 

## **Trustees** 

The following trustees served during the year: 

Ms S Beyzade (Chair) Ms S Mustafa Ms I Shefki Ms H Beyzade Ms H Degirmencioglu (Vice Chair) Ms N Aktekin (Treasurer) Ms D Dervish Ms A Ibrahim Ms T Nazim Ms F Djahit Ms N Mustafa Ms A Osman Ms H Dervish (Ceased December 2023) 

## **Independent Examiners** 

MG Group (Professional Services) Ltd Chartered Accountants 166 College Road, Harrow, Middlesex HA1 1BH 

## **Bankers** 

Turkish Bank UK 84-86 Borough High Street London SE1 1LN 

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## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing Document** 

The Charity is controlled by its constitution document and constitutes an Unincorporated Charity. The Charity is an Unincorporated Association governed by Laws adopted on 17[th] March 1976 and amended in General Meeting from time to time. 

## **Recruitment and Appointment of New Members of the Executive Committee** 

The Laws of the Association govern the appointment of Members.  Members are elected at the Annual General Meeting (“AGM”). 

## **Induction and Training of New Members of the Executive Committee** 

New Members are mentored by existing Members until they are fully familiar with how the Charity operates. 

## **Organisational Structure** 

Management of the Charity’s affairs is vested in its executive committee whose members are thereby Charity Trustees.  The Trustees in 2024 are named on page 1. 

## **Risk Management** 

The Trustees are responsible for the management of the risks faced by the Association.  Risks are identified and assessed throughout the year and controls are established to manage the risks. 

Through the risk management processes established for the Association, the Trustees are satisfied that the major risks identified have been adequately mitigated, where necessary, or are in the process of being mitigated.  It is recognised that systems can only provide reasonable, but not absolute, assurance that major risks have been adequately identified and addressed. 

## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** 

## **Objectives** 

The Charity was established in 1976 and the objects of the Association are to provide help and financial assistance to Turkish women, poor, sick, aged and destitute persons and other charitable associations.  In addition to this the Association may: 

- (a) Assist financially or otherwise, charitable associations and institutions which serve the same objectives; 

- (b) Provide financial help to students in extraordinary circumstances who could not otherwise continue with their studies; 

- (c) Provide help to those who suffer from natural disasters and who are in need of help; and 

- (d) To advance such charitable purposes (according to the law of England and Wales) as the Executive Committee see fit from time to time. 

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## **Key Aims** 

1. Build an active, supportive community, with a range of medical, educational and cultural events for all. 

2. Provide for our children and young people a vibrant community that strengthens their Turkish identity. 

3. Maintain the upkeep of the premises and use funds solely towards the promotion of the objectives. 

4. Actively seek and recruit new members. 

## **Activities, Achievements and Performance, Future Plans** 

## **Activities** 

The Charity activities usually involve general money raising activities, sponsored walks, day trips, outings, annual raffle, and lunches.  We have Sunday teas open to members with educational talks. Every Friday is drop-in day for elderly and others.  We provide yoga classes for elderly and others every week and handcraft and embroidery classes for members and others.  We visit elderly and sick persons at hospitals and homes mainly in North London. 

## **Achievement, Performance and Future Plans** 

My committee members and I have worked very hard the past year, we started new and exciting projects to help our community thrive. These included: TWPA cookery competition and to help inspire our community to have the courage to speak out and believe in themselves we started the TWPA Sonay Yakup Yakupsoy Poetry Competition. All of which we did side by side with all the other annual events and activity you know and love. 

We raised money for TWPA through our Christmas bazaar, Christmas raffle, our mothers day lunch, summer garden party, The CTCA North Cyprus Festival and our sponsored walk. All monies raised at these event went to our Dementia support and prevention projects and our autism projects. 

In February we held a Mevlit for the Earthquake victims, one year on. 

In March, we held an iftar yemek here at our centre and which many of our members came but many non members within our community came also which was wonderful too. 

We held several seminars to help educate our community including a dementia seminar, Cancer seminar and more recently a domestic abuse seminar. Our lives are filled with many obstacles whether it be directly or through family members and loved ones. It's important to realise that we are not alone, many of these experiences that ail us are common and are shared by many others. It is therefore important that we do not suffer in silence and are not afraid to come forward and talk about these thing, by talking you are not just helping yourself you may also be helping others to have a voice. We gain strength by sharing because it's through sharing that we gather support and we all need support every day. Nobody can live a full life on their own. 

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We continue to battle mental health and loneliness within our community through our walk in centre on Fridays as well as other ventures. Our wonderful Hulya heads this. I am so please that so many members come regularly to chat while they have brunch and play bingo. It is a great opportunity to meet old and new friends. These bonds of friendships that we have gained through this is more than just friendship we are a families and I know through my own personal experience how fond I am of you all and how you are my family and I do hope you feel the same too. 

Our yoga classes continue on Wednesday mornings and is organised by Havva. This is a great way to improve your fitness in a very gentle and manageable way. 

On Tuesday our arts and craft club headed by Semahat, excelled themselves with a new project where they made a knitted patchwork quilt which would be used to help support a Turkish Cypriot orphan child through their education. We were overwhelmed by the number of individuals who sent knitted squares from all over the UK. This project united women of all ages as we knitted for the same important cause. It was unfortunate that we were unable to auction this at the CTCA Festival in June as advertised but we did raffle it off and made £715 for the project so far. I would like to thank not just Semahat but Inci and Nazan also for putting the squares together and making this such a wonderful venture. We have already started preparing for our next quilt to be sold which will be made of fabric in the traditional quilted blanket style. I do hope you will all participate in this. 

Our Dementia support and prevention group continues on Tuesday morning. Haringey head of dementia has praised us for this endeavour we are the only Community charity in London doing such a thing which we are offering to our members for free. Each week Zeynep our qualified physiotherapist talks about the best foods to eat, they perform gentle exercises and cognitive skills all to help prevent the onset and to help slow down dementia. 

Our Autism project continue we were given a lottery grant for the Parent carer support group which has now finish but we continue with our project as it has helped so many families we are struggling. 

The music therapy groups are also continuing our autistic children are gaining confidence and integrating more in society which is a huge achievement and one we feel so proud to be part of. Many social workers and in fact CAMS NHS in Barnet, Enfield and Haringey have approached us and want to work with us which just show what valuable work we are doing here art our centre. 

In the past year we started several new competitions one of which is our Cooking competition. This has been a real joy to organise and has brought much excitement and laughter to our members. This year's winners included Dudu Dervish winner of the Best Bulgur Kofte, Ayse who won the best dolma competition and Ayse Ibrahim who won best sutlu borek. Our wholesome, healthy Turkish cuisine is second to none. We all have our favourite, for many years our mothers, grandmothers handed down family recopies for the staples in our everyday diets. In this modern age this wonderful tradition has been dying out and many of our younger generation have spoken out saying they want to learn how to make these dishes too. This competition was started to help inspire them to try cooking these dishes and participate. It's through participation that we learn and improve and by trying we can perhaps learn some secrets from the great chiefs within our community. We aim to continue this competition with our next one in February where we will be searching for the best Pilavun in London. I do hope you will all have the courage to participate. After all, it's all in the name of having fun and celebrating our great culture. 

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We have listen to our community and tried our very best to help encourage and fill the voids that affect our everyday lives. This year Barnet council held a seminar that was anti Turkish and Turkish Cypriot. This was the second year in a row this was done. We, the TWPA were asked to help advocate for our community. This is something the TWPA have championed for many decades and back in the 1980 and 1990, many of our members Havva, Hulya, Semahat, Sivel, Aysin as well as their husbands Veli and Erter, fought hard to get the Turkish Cypriots in Haringey recognised. It is unbelievable that in this day and age our community is still being discriminated against and what is worse is that many of us have just accepted this as the norm. Unfortunately our children are being bullied in schools, and it continues to have a huge impact on our businesses. Our mental health is paramount to the TWPA and we are advocating for our community and have been doing so by writing letters and holding deputations. This will be a long battle but a battle we will win because the law is on our side. We just need to educate people about who we are and celebrate our culture. We can only do this by coming together, and being proud of our community. 

TWPA Sonay Yakup Yakupsoy Poetry Competition. Our children are being left behind academically, many are not getting the support they need to reach their potential this project was part of our initiative to help inspire our community to take that step and believe in themselves. Sonay has been a member of the TWPA for many years she has advocated for our community and championed our children's education. More recently she has been one of the main volunteers to worked in both our autism parent carer support group and our autism music therapy group she was therefore the natural person to lead this amazing and historic competition. Historic because it's the first time ever that the Turkish and Turkish Cypriot community helped such a competition and many individuals not just here in the UK but also from Turkey and Northern Cyprus entered. The competition had several categories including children, teens, individuals with special need and men and women. We had 76 poems entered and all were collected in a beautiful book which we are selling to help raise money for education within our community. I do hope you will all buy a copy both the Turkish Cypriot and Turkish Ambassadors have supported this endeavour and celebrated our book and the work we have achieved. We are happy to say we will be continuing this initiative in the coming year. 

A few of our members braved a safari trip to Gambia and Senegal. These are very poor countries and they found the facilities were primitive compared to the everyday facilities we are fortunate to have here in the UK, however the experience they encountered living side by side with a Rhino, stroking crocodiles and camping in the middle of a national safari park resulted in unforgettable life long memories they will treasure forever. We hope to organise more holidays in the coming year perhaps not as exotic. 

Finally as part of the Turkish Cypriot Remembrance Society which is part of the TWPA, this year we laid wreaths for remembrance day in Barnet, Enfield, Haringey, and for the first time in Borehamwood and Elstree. This is an important part of being proud of our community remembering our brave soldiers many who were part of our family and telling the world and educating them of our existence and part in world history with the endeavour to not only honour our dead but also remove false stigmas and improve our inclusivity her in the UK and beyond. 

## **Financial Review** 

The Trustees report an overall surplus of £46 (2023: £5,479).  The Balance Sheet remains strong, with net assets of £541,973.  The Charity’s land and buildings for use in its activities includes a residential flat which has been rented out to provide income to finance expenditure. 

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## **Reserves Policy** 

Our policy is to utilise any reserves for future commitments and projects which include: 

- Raising funds for our objectives generally. 

- Maintenance and upkeep of the premises. 

Total reserve amount to £541,973 (2023: £541,927) of which £508,097 (2023 - £508,097) is permanent endowment. 

## **STATEMENT OF TRUSTEES RESPONSIBILITIES** 

The Trustees are responsible for preparing the Financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. 

Charity law requires the Trustees to prepare Financial Statements for each financial year.  Under that law, the Trustees have elected to prepare the Financial Statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 

The Financial Statements are required by law to give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period.  In preparing those Financial Statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Make judgements and estimates that are reasonable and prudent; 

- Prepare the Financial Statements on the going concern basis, unless it is inappropriate to presume that the Charity will continue in business. 

The Trustees are responsible for keeping proper accounting records which 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 Charities Act 2011.  They are also responsible for safeguarding the assets of the Charity and hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

ON BEHALF OF THE BOARD OF TRUSTEES 


............................................... S Beyzade Chairperson 

```
28/03/2025
```

Date:  ......................................... 

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## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

I report to the Trustees on my examination of the Accounts of the association for the year ended 31[st] May 2024, which are set out on pages 8 to 17. 

## _**Respective responsibilities of Trustees and Examiner**_ 

The Charity’s Trustees are responsible for the preparation of the Accounts in accordance with the requirements of the Charities Act 2011.  The Charity’s Trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

It is my responsibility to: 

- Examine the Accounts under Section 145 of the 2011 Act. 

- To follow the procedures laid down in the General Directions given by the Charity Commissioner under Section 145(5)(b) of the 2011 Act; and 

- To state whether particular matters have come to my attention. 

This report is made to the Charity’s Trustees, as a body, in accordance with the terms of our engagement.  Our work has been undertaken so that we might examine the Financial Statements that we have been engaged to examine, report to the Charity Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees, as a body, for our work or for this report. 

## _**Basis of Independent Examiner’s Report**_ 

My examination was carried out in accordance with the General Directions given by the Charity Commissioner.  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 the seeking of explanations from you as Trustees concerning any such matters.  The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the Accounts present a ‘true and fair view’ and the Report is limited to those matters set out in the statement below. 

## _**Independent Examiner’s Statement**_ 

In connection with my examination, no matter has come to my attention: 

- Which gives me reasonable cause to believe that, in any material respect, the requirements: 

- a) to keep accounting records in accordance with Section 130 of the 2011 Act; and 

- b) to prepare Accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or 

- To which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached. 

Gavin Fernandes  FCA 

`28/03/2025` Date: 


…………………………………… MG Group (Professional Services) Ltd Chartered Accountants, 3[rd] Floor, 166 College Road, Harrow, Middlesex, HA1 1BH 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **FOR THE YEAR ENDED 31[st] MAY 2024** 

|Notes<br>Unrestricted<br>Funds<br>Restricted<br>Funds<br>**Income:**<br>£<br>£<br>Donations and subscriptions<br>2<br>3,278<br>1,446<br>Charitable Activities and Fundraising events<br>2<br>-<br>10,000<br>Investment income<br>3<br>22,136<br>-<br>Total Income<br>25,414<br>11,446<br>**Expenditure**<br>Charitable activities costs<br>4<br>28,851<br>7,153<br>Governance costs<br>5<br>810<br>Total Expenditure<br>29,661<br>**Net Income and Net Movement of Funds before**<br>**Transfers**<br>(4,247)<br>4,293<br>Transfer between funds<br> -<br> -<br>Net movement in funds<br>(4,247)<br>4,293<br>**Reconciliation of Funds**<br>Total funds brought forward<br>29,578<br>4,252<br>**Total Funds Carried Forward**<br>**25,331**<br>**8,545**|Permanent<br>Endowment<br>£<br>-<br>-<br>-<br>-<br> -<br>-<br>508,097<br>**508,097**|31.05.2024<br>Total Funds<br>£<br>4,724<br>10,000<br>22,136<br>36,860<br>36,004<br>810<br>36,814<br>46<br> -<br>46<br>541,927<br>**541,973**|31.05.2024<br>Total Funds<br>£<br>4,724<br>10,000<br>22,136<br>36,860<br>36,004<br>810<br>36,814<br>46<br> -<br>46<br>541,927<br>**541,973**|31.05.2024<br>Total Funds<br>£<br>4,724<br>10,000<br>22,136<br>36,860<br>36,004<br>810<br>36,814<br>46<br> -<br>46<br>541,927<br>**541,973**|31.05.2023<br>Total Funds<br>£<br>5,880<br>2,512<br>15,214<br>23,606<br>17,407<br>720<br>18,127<br>5,479<br> -<br>5,479<br>536,448<br>**541,927**|31.05.2023<br>Total Funds<br>£<br>5,880<br>2,512<br>15,214<br>23,606<br>17,407<br>720<br>18,127<br>5,479<br> -<br>5,479<br>536,448<br>**541,927**|31.05.2023<br>Total Funds<br>£<br>5,880<br>2,512<br>15,214<br>23,606<br>17,407<br>720<br>18,127<br>5,479<br> -<br>5,479<br>536,448<br>**541,927**|31.05.2023<br>Total Funds<br>£<br>5,880<br>2,512<br>15,214<br>23,606<br>17,407<br>720<br>18,127<br>5,479<br> -<br>5,479<br>536,448<br>**541,927**|
|---|---|---|---|---|---|---|---|---|
||||<br>|<br>|||||
|||||||||<br>23,606<br>17,407<br>720<br>18,127|
|||||||||<br>5,479<br> -|
||||||||5,479<br>536,448||
||||||||<br>**541,927**||



The notes on pages 10-17 form part of these Financial Statements 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **BALANCE SHEET AS AT 31[st] MAY 2024** 

|**Fixed Assets**<br>Tangible assets<br>**Current Assets**<br>Debtors<br>Cash at Bank and in hand<br>Creditors: Amounts falling due<br>within<br>one year<br>Net Current Assets<br>Creditors: Amounts falling due<br>after<br>more than one year<br>Net Assets<br>The Funds of the Charity:<br>Permanent Endowment Funds<br>Restricted Income Funds<br>Unrestricted Income Funds<br>Total Charity Funds|Notes<br>7<br>8<br>9<br>10<br>10|2024<br>Permanent<br>Endowment|2024<br>Permanent<br>Endowment|<br>2024<br>Restricted|<br>2024<br>Restricted|<br>2024<br>Restricted|<br>2024<br>Unrestricted<br>£<br>891<br>-         488<br>25,482<br>25,970<br>(1,530)<br>24,440<br> -<br>25,331<br>25,331|2024<br>Total<br> <br>£<br>508,988<br>488<br>34,027<br>34,515<br>(1,530)<br>32,985<br> -<br>541,973<br>541,793|2023<br>Total<br>£<br>509,102<br>680<br>32,865<br>33,545<br>(720)<br>32,825<br> -<br>541,927<br>508,097<br>4,252<br>29,578<br>541,927|
|---|---|---|---|---|---|---|---|---|---|
||||£<br>508,097<br>-<br> -<br>-<br> - <br>-<br> -<br>508,097<br>508,097||<br>|£<br>-<br>8,545<br>8,545<br> -<br>8,545<br> -<br>8,545<br>8,545|-<br>|||
|||||||||||



Within the comparative figures, £508,097 of the tangible assets and total charity funds represent permanent endowment, and all other figures represent unrestricted funds. 

`28/03/2025` Approved by the Trustees on   ……………………………..  and signed on their behalf by 


...................................................... **S Beyzade** Chairperson ...................................................... **N Aktekin** 

Treasurer 

The notes on pages 10 – 17 form part of these Financial Statements 

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**TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

## **1. ACCOUNTING POLICIES** 

## Basis of Preparation of Financial Accounts 

The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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)’.  The financial statements have been prepared under the historical cost convention. 

The trustees have assessed whether the use of the going concern basis is appropriate, and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements, and have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.  The charity therefore adopts the going concern basis in preparing its financial statements. 

## Income 

Voluntary donations and gifts are accounted for as received. All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Expenditure 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.  Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## Value Added Tax 

Value Added Tax is not recoverable by the Charity and, as such, is included in the relevant costs in the Statement of Financial Activities. 

## Taxation 

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

## Tangible Fixed Assets 

Tangible fixed assets for use by the Charity are stated at cost less depreciation 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

## (…/cont) 

Depreciation is provided at rates calculated to write off the cost of fixed assets, over their expected useful lives on the following basis: 

Furniture & Fittings 25% reducing balance. 

No depreciation is provided on freehold land and buildings improvements thereto and assets in the course of construction which, in the opinion of the Trustees, have a residual value not less than their cost. 

## Fund Accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the Charity.  Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanations of the nature and purpose of each fund is included in the notes to the Financial Statements. 

## Presentation Currency and Rounding 

The financial statements are presented in the functional currency of pounds sterling, and the figures are rounded to the nearest pound. 

## Financial instruments 

The Charity has elected to apply the provisions of the Charities SORP (FRS 102) to all of its financial instruments. 

Financial instruments are recognised in the Charity’s balance sheet when the Charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

## Basic financial assets 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

(…/cont) 

## Classification of financial liabilities 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.  An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities. 

## Basic financial liabilities 

Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.  Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.  Amounts payable are classified as current liabilities if payment is due within one year or less.  If not, they are presented as non-current liabilities.  Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## **2. VOLUNTARY INCOME FOR CHARITABLE ACTIVITIES** 

|Unrestricted Funds<br>Donations<br>Subscriptions<br>Fundraising events<br>Restricted Funds<br>Earthquake Appeal<br>Community National Lottery Fund - Autism<br>Dementia Programme|**31.05.2024**<br>£<br>2,663<br>615<br>-<br>3,278<br>**31.05.2024**<br>£<br>120<br>10,000<br>1,326<br>11,446|**31.05.2023**<br>£<br>1,893<br>915<br>1,332<br>4,140<br>**31.05.2023**<br>£<br>4,252<br>-<br>-<br>4,252|
|---|---|---|
||||



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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

(…/cont) 

## **3.  INVESTMENT INCOME** 

|**3.  INVESTMENT INCOME**|||||
|---|---|---|---|---|
|Rental Income<br>Interest received<br>Repairs to Flat<br>**4. CHARITABLE ACTIVITIES COSTS**<br> <br>Unrestricted Funds<br>Catering and food<br>Fundraising events<br>Lighting and heating<br>Donations paid<br>Subscriptions<br>Travel<br>Cleaning upkeep and kitchen assistance<br>Repairs and renewals<br>Printing, postage and stationery<br>Advertising<br>Water rates<br>Insurance<br>Telephone<br>Sundry expenses<br>Bank charges<br>Depreciation|**31.05.2024**<br>£<br>21,760<br>376<br>(-)<br>22,136<br>**31.05.2024**<br>£<br>1,149<br>1,704<br>2,631<br>-<br>73<br>2,355<br>2,569<br>13,695<br>814<br>-<br>340<br>1,502<br>1,022<br>70<br>629<br>298<br>28,851||**31.05.2023**<br>£<br>17,417<br>117<br>(2,320)<br>15,214<br>**31.05.2023**<br>£<br>628<br>-<br>2,174<br>3,186<br>125<br>1,080<br>2,995<br>2,521<br>363<br>200<br>434<br>1,888<br>1,174<br>49<br>255<br>335<br>17,407||
||||||
||||||



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15 

## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

(…/cont) 

|<br>Restricted Funds<br>Fundraising events<br>Donations paid|**31.05.2024**<br>£<br>7,093<br>60<br>7,153|**31.05.2023**|
|---|---|---|
|||£<br>-<br>-<br>-|



## **5.  GOVERNANCE COSTS** 

|<br>Accountancy Fees - Independent Examination<br>Legal and Professional fees|**31.05.2024**<br>£<br>810<br> -<br>810|**31.05.2023**<br>£<br>720<br> -<br>720|
|---|---|---|



## **6. TRUSTEES’ REMUNERATION AND BENEFITS, RELATED PARTIES** 

During the year, no fees or remuneration were paid to Trustees or to any persons connected to the Trustees. 

## Trustees’ Expenses 

This year Trustee was paid £734 for acting as a Secretary for an Autism project. 

## Related Parties 

There are no related party disclosures required for the year. 

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16 

## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

(…/cont) 

## **7. TANGIBLE FIXED ASSETS** 

|<br>Cost at 1stJune 2023<br>Additions<br>Cost at 31stMay 2024<br>Depreciation at 1stJune 2023<br>Charge for the year<br>Depreciation at 31stMay 2024<br>Net Book Value at 31stMay 2024<br>Net Book Value at 31stMay 2023|Permanent Endowments<br>Unrestricted Funds<br>Freehold<br>Property<br>Improvements<br>to Property<br>Fixtures &<br>Fittings<br> Total<br>£<br>£<br>£<br>400,000<br>108,097<br>14,240<br>522,337<br> -<br> -<br>184<br>184<br>400,000<br>108,097<br>14,424<br>522,521<br>-<br>-<br>13,235<br>13,235<br> -<br> -<br>298<br>298<br> -<br> -<br>13,533<br>13,533<br>400,000<br>108,097<br>891<br>508,988<br>400,000<br>108,097<br>1,005<br>509,102|Permanent Endowments<br>Unrestricted Funds<br>Freehold<br>Property<br>Improvements<br>to Property<br>Fixtures &<br>Fittings<br> Total<br>£<br>£<br>£<br>400,000<br>108,097<br>14,240<br>522,337<br> -<br> -<br>184<br>184<br>400,000<br>108,097<br>14,424<br>522,521<br>-<br>-<br>13,235<br>13,235<br> -<br> -<br>298<br>298<br> -<br> -<br>13,533<br>13,533<br>400,000<br>108,097<br>891<br>508,988<br>400,000<br>108,097<br>1,005<br>509,102|
|---|---|---|
||||
||||



For the time being, the Charity is renting out the premises above 4 Willoughby Road, London, N8 0HR to a third party. 4 Willoughby Road, London N8 0HR is carried at historical cost in the Financial Statements. 

## **8. DEBTORS** 

|<br>Amounts falling due within one year:<br>Prepayments|**31.05.2024**<br>£<br>488<br> 488|**31.05.2023**<br>£<br>680<br>680|
|---|---|---|



## **9. CREDITORS:  AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|<br>Accruals and deferred income|**31.05.2024**<br> £<br>1,530<br>1,530|**31.05.2023**<br> £<br>720<br>720|
|---|---|---|
||||



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17 

## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

(…/cont) 

## **10. MOVEMENT IN FUNDS** 

|**MOVEMENT IN FUNDS**|||
|---|---|---|
|Unrestricted Fund<br>Restricted Fund<br>Permanent Endowment Fund<br>Unrestricted Fund<br>Restricted Fund<br>Permanent Endowment Fund|**At**<br>**01.06.2023**<br>**Net**<br>**Movement in**<br>**Funds**<br>**Transfers**<br>**between**<br>**Funds**<br>£<br> £<br> £<br>29,578<br>(4,247)<br>-<br>4,252<br>4,293<br>-<br>508,097<br> -<br> - <br>**At**<br>**01.06.2022**<br>**Net**<br>**Movement in**<br>**Funds**<br>**Transfers**<br>**between**<br>**Funds**<br>28,351<br>1,227<br>-<br>-<br>4,252<br>-<br>508,097<br> -<br> -_|**At**<br>**31.05.2024**<br>£<br>25,331<br>8,545<br>508,097<br>**At**<br>**31.05.2023**<br>29,578<br>4,252<br>508,097|
|||5|



Net movement in funds included above are as follows: 

|2024<br>Unrestricted Funds<br>Restricted Funds<br>Permanent Endowment Fund<br>2023<br>Unrestricted Funds<br>Restricted Funds<br>Permanent Endowment Fund|**Incoming**<br>**Resources**<br>£<br>25,414<br>11,446<br> -<br>**Incoming**<br>**Resources**<br>£<br>19,534<br>4,252<br> -|**Resources**<br>**Expended**<br>**Movement**<br>**in Funds**<br>£<br>£<br> 29,661<br>7,153<br>(4,247)<br>4,293<br> -<br> -<br>**Resources**<br>**Expended**<br>**Movement**<br>**in Funds**<br>£<br>£<br>18,127<br> 1,227<br>-<br>4,252<br> - <br> -|**Resources**<br>**Expended**<br>**Movement**<br>**in Funds**<br>£<br>£<br> 29,661<br>7,153<br>(4,247)<br>4,293<br> -<br> -<br>**Resources**<br>**Expended**<br>**Movement**<br>**in Funds**<br>£<br>£<br>18,127<br> 1,227<br>-<br>4,252<br> - <br> -|
|---|---|---|---|
|||||
|||||



The permanent endowment fund provides the premises where the Charity’s activities are based.  The unrestricted fund provides funds to run the regular Charity activities. 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MAY 2024** 

(…/cont) 

## **11. AMOUNTS RECEIVABLE FROM TENANTS FOR THE USE OF THE CHARITY’S PROPERTY (OPERATING LEASES)** 

The Charity has the following commitments from tenants under leases to pay rents to the Charity, where the leases expire in the following periods from the balance sheet date. 

|<br> <br>•<br>Not later than one year<br>•<br>Between one and five years|**2024**<br> <br> £<br> <br>21,600<br> -|**2023**<br> £<br>18,000<br> -|
|---|---|---|
||||



The above figures represent amounts payable up to the end of the leases. 

## **12. LEGAL FORM OF THE CHARITY** 

The Charity is an unincorporated association governed by laws adopted on the 17[th] March 1976 and amended in General Meeting from time to time. 

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## **TURKISH WOMEN’S PHILANTHROPIC ASSOCIATION OF ENGLAND** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[st] MAY 2024** 

|**2024**<br>**Income:**<br>£<br>Donations<br>Subscriptions<br>Community National Lottery Fund - Autism<br>Interest received<br>Fundraising events<br>Rental Income, net of repairs<br>**Expenditure**<br>Catering and foods<br>1,149<br>Fundraising events<br>8,797<br>Lighting and heating<br>2,631<br>Donations paid<br>60<br>Subscriptions<br>73<br>Travel<br>2,355<br>Cleaning, upkeep and kitchen assistance<br>2,569<br>Printing, postage and stationery<br>814<br>Repairs and renewals<br>13,695<br>Advertising<br>-<br>Water rates<br>340<br>Insurance<br>1,502<br>Telephone<br>1,022<br>Sundry expenses<br>70<br>Bank interest and charges<br>629<br>Accountancy fees<br>810<br>Depreciation<br>298<br>**Net surplus/(deficit) for the Year**|**2023**<br>£<br>£<br>£<br>4,109<br>3,070<br>615<br>915<br>10,000<br>-<br>376<br>117<br>-<br>4,407<br>21,760<br>15,097<br>36,860<br>23,606<br>628<br>-<br>2,174<br>3,186<br>125<br>1,080<br>2,995<br>363<br>2,521<br>200<br>434<br>1,888<br>1,174<br>49<br>255<br>720<br>36,814<br>335<br>18,127<br>46<br>5,479|
|---|---|



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