Charity registration numbèr 281670 UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Chaimian Mr Sinan Zorlu Vl¢e Chairman Mr B&kir Tèzgel Tresurers MrAhmet TeknecA r Muslafa Nalbanl Trustèès Mr M Nalbant Mr E B Tezgel Mr S ZOAU Mr H Camuz Mr S Ba5tan MrA Tekneci rAGuc Charily number 281670 Secretary Mr Hakan Camuz Independent Examlnfyr KLSA LLP Chartered Acctsunlants Kalamu House 11 Coldbalh Square London EC1R SHL Eankers Barolays Bank PIC Kingsland Bran¢h 3-5 Kingsland High Street London E8 2JT Princlpal addre$8 117-119 Sloke Newington Road LorTrdon N16 8BU
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION CONTENTS Page TTUStees' report Independent examinovs report Slalemenl of financial activitses Balance sheet Notes lo the finanal statements 6- 11
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Iruslees present their annual report and financial 8latement8 for the year ended 31 December 2022. The accotjnts havo been prep8rèd in accordance with the accounting polioies Sel out in note I to the accounts and comply with the ¢haiily's trust deed, the Charities Act 2011 and 'Aocounling and Reporting by Charities.. Statement of Recommended Practice applicable to chaiitiÉs prèpsring their accounts in accordan with the Financbal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods comMenng from l January 20161 Objectives and actlvltl86 The piinoipal object of the Tmsl as doscribed in the Trust Deed is to provide a p18ce to worship 8nd facilities for education and religious studies for Muslims.11 also endeavours lo help those in nèed. Financial revlew The Slalemenl of FinancAal Activities is sel out on page 4 of the financial stalernents in detail. A subslanlial proportion of thè ine£JmÈ of the charity was by way of donations which amounted lo £88,015. This year the charty also rwived income from providing funeral setmces which amouF)led lo £103,859. Rents received of £32,847 during the year comprisès rant received from thè shop at the front of the main building and from halal bulcheTS. grocers and a restaurant setving halal food in the basement. The lulor's fees of £27,799 (net of Employer's Nll were paid lo reltqious teachers for tead)Ing the Quran and for performing other religious actiwties. The Printing, P051age and Stationery payment of £5.347 is in respect of printing, poslag8s and stalioriary which include thè prlnling of lirne tables for prnyers. The RÈpairs & Maintenance payment of £34,323 is in respect of the repaiTS of the building. It is the policy of the charity that Ltnreslricled fvnds which have not been designale(I for a spo¢lflc use should be maintained at a lev61 equiv8lenl lo between three and six month's expenditure. The Iiuslees consider that reserve8 al this level will ensure Ihal, in the evenl of a signific8nl drop in funding, they will be able lo continue Ihe charity's ¢urTenl activities while Gonsideration is given to ways in whieh additional funds may be raised. This level of reseryes has been maintained throughoul the year. The trustees have assessed the major iisks to which the charity is exposed, and ale satisfied that systems arè in place to mitigate exposura to IhÉ mgjor risks. Structure. govemance and management The United Kingdom Turkish IslamicAssocialion Trust is constiluled under a Trust Deed in 1979 and the registered number of the charity is 281670. ovement of Flxed The moven78nts in fjx8tl Bssèt& during the yearare set outin nole to lo the finanGial stalem$nts. Assets Trustees tralning and recruttment When appointing new Truslees lo the charity, thÈ Board of Trustees consider the skills, knowledge and experien of the indiwdual in making the appointinenl. All Trustées havè been allocaled an area of responsibtlity, whl¢h, wh8ro posslble, is In accordance wlh their skills and èxpèriénca.
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Rlsk Alanagemen¢ Thfy Iruslees h2Vg 8SS65s8(I th? major rl$ks lo whi¢h thg charity mlghl be &xposed, In particular those related lo the operation and ffnancès of th8 trust. Ènd are satisliod that the gyslems are in place lo mitigate Ouf exposure to those risks. In addition. the Iruslees will consider the guldance for directors of publlc listed cornpanies contained within the Turnbull Répoil of 1999. Although this is not mandatory for the charlty. it should, as a ptsblic inleresl body. adopt the guldelines as best practica. ReseTh&$ pollcy The trustees alm Is lo maintain reseNes in unrestrlcted fvnds at a level which equates to aPPTOXFmalely three months of unrest¥i¢ted charitable expenditure. The b81anc& held as unrcstrlcted funds at 31 L)ecembèr 2022 was £1,364.21412021.' £1,387,692). Thè Iwste¢s' report Was approved by the Board of Truslees. Mrszorlu rrustee Dated.. 31 July 2024
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION I report to the trustees on my examination of the financial slalemenls of Unitéd Kingdom Turkish Islamic Association (the charilyl for the year &nded 31 December 2022. Respon$lbllltle$ and basls of report As Ihe trustees of the Gharily you are responsible for the preparation of the financial slalemenls in aceordancè itth thè requirements of the Charities Act 2Q11 Ith6 2011 Acll. I report in respect of my ex8Mlnalion of the charity's financial slalements carried tstjt under section 145 of the 2011 Act. In carrying out my oxaminalion I have followed all the applicable Directions given by the Charity Commission under section 145{5llb) of th8 2011 Ael. Basis of Independènt examlnerfs report My examination was e8rried out in accordan wilh the general Dirg¢tiOllS given by the Charity Commission. An examination includes a review of the accounting recoids kept by the charity and a comparison of Ihe accounts presented with those records. 11 also indudes consideration of any unusuAI itÉms or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures ndertaken do not provide all the emdence Ihxl would be required in an audit and consequently no opinion Is given as lo whether the accounts present a'lru8 and fsir Mèw, and the report is limited lo those matters sel out in the next statement. Indapandent examlner's statement I have completed my examination. I confirm that no mallers have come lo my attention In Connection with the examination giving me cause lo believe that in any material rèspect.. accounting iecoids were not kept in respect of the charity as required by section 130 of the 2011 Act- or the fin8ncial statements do not acrd with those records., or the financial statements do not comply with the applic8ble roquirernenls conceming Ihe form and wntenl of o¢counts sÉt out in the Charilies (Accounts and Reports) Rogulations 2008 other than any requirement that thé 8ccounls givo a Irue and fair view which is not a rnattei considered as part of an independent examination. I have no concems and have come across no othèr matters in conneGtion with the examination Its which attention should be drawn in this report in ordèr lo ènablè a proper understanding of the financial slalements lo be rea¢hed. Harsheel Dodhia FCCA KLSA LLP Chartered Accounlanls Kalamu House 11 Coldbath Square London EC1R 5HL Dated.. 31 July 2024
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Unre¥trirtsd funds funds 2022 2021 Notes Income from.. Donations and légaciès Cotnmercial activities 100,522 136,706 75,010 180.085 Total income 237,228 255,095 eiiditurè on: Charitable acliwlies 260,706 231.866 Nèt lèxpèndlturellincome for the yearl Net movement In funds 123,4781 23,229 Fund balances at 1 January 2022 t,376,7(15 1.384,463 Fund balances at 31 December 2022 1.353.227 1,387,692 The slalement of Iinancial a¢tivitses includès all gains and losses recogni8ed in the y98r. The s121èmènt of financial activities includes all gains and losses recognised in the year. All In¢ome and expenditure derive from ¢onlinuiny a¢tivilies.
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION BALANCE SHEET ASAT31 DECEMBER 2022 2022 2021 Note Flxed as50ts T8nglble asset5 11 1,091.631 1,127,030 Curront asséts Debtors Cash 81 bank and In hand 3,248 266,250 11,245 257,954 289.498 269,199 Creditors: amounts falllng due wlthln one year 13 {7.2) 18.537) Not current asset$ 261,596 280.662 Total assets less Currènt Ilabllltl8s 1,353,227 1,387,692 The funds of the charity Unreglrict8d funds 15 1.353,227 1.387,692 1.353,227 1,387.692 The titi#nclal slalemenls wére approvèd by tho trusleos on 31 July 2024 Mr S Zorlu Trust¢e
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting pollcies Charlty Information United Kingdom Turt(ish Islamie Association is a charity regislered in England and Walès. The charity number is 281670 and ils, address is 117-119 Stoke Newinglon Road, London, N16 8BU 1.q Accountlng convention The financial slalements have beÈn prèpared in accordance with th& charity's Igoveining docurnentl, the Charities Act 2011, FRS 102"The Financial Reporting Slaftdard applicable in the UK and Rèpublio of Ireland I'FRS 102.1 and the Charities SORP "Aocounling and Reporting by Chaiities= Statement (bf Recommendod Praclico applicable to charities preparing their accounts in ao¢ordance with the Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1 J21" (effective 1 January 20191. The Gharily is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of thè provisions in the SORP for chÉrit16s not to prepare a Ststemenl of Cash Flows. The financial slatemenls are prapared in steiling. which is the fut)ctional currency of the charity. Monetary amounts in these financial slalèments are rounded lo the nearest £. Th6 financial sialemènts have been PTep8red under the historical cost convèntion. Imodifitsd to indude the revaluation of freehold properties and lo include investment properties and certain financial instruments at faif valuel. Th8 principal accounting policies adopted are set oul below. 1.2 Going concern Al the lime of approving the flnancial slalemenls, Ihe trustees have a reasonablè èxpectation that the charity has adequ21é resources lo continue in operational existence for the foreseeable luluie. Thus the trustees continue lo adopt the going concem basis of accounling in preparing thé financial statomenls. 1.3 Charitable funds Unrestricted funds are av8i18blÈ for use al the discretion of the Iruslees in furthèr8nce of their ¢haritable obj&dives. 1.4 Incoming resources Income is Cognised when the charity is lÈgally entilled lo il after any performance con(Sitions hava been met, the amounts can be measured reliably. and11 Is probable that income will be re¢eived. 1.5 Resources èxpended Expenditure is accounlÈd fr)r on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where c051s cannot be direclly attributed to particular hèadings they have been allocated to activities on a basis wnsistenl with the use of resources. 4.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. nel of depreciation and any impairment losses. Depretiation is recogniscd so as to write off tho st or valuation of asset5 le5S their residual values over their useful lives on the following bxsès.. Freehold18nd and buildings Freehold improvements Fixtures anil fillings 20A slraighl line bAsis 20A slrdighl line basis 10°A reducing balance basis Tha gain or loss on the dispos81 of an asset Is determined as the difference bètween the sale proc6eds and the carrying value of the asset, and is recognisèd in the slatemenl of financial aetivities.
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Account4ng poll¢los Icontlnuedl All assets costing more than £250 are capilalised al their hlstorical cost. 1.7 Impalrment of fixed a8sets Al each reporting end dale. the d)arity reviews th& ¢a¥rying amounts of ils langiblo assets lo detérmine whether there is any indication that those assets have suffered an impairment loss. If any such indicallon 8XiSts, the recoverable amount of thè asset is estimalod in tsrder to determine the extent of thè impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include Cash in hand, deposits held at call with banks. other shDrt-lerm liquid inv¢$tments with origlnal malurilies of thrée months or less, and bank overdrafts. Bank oveidrafts ere shown within borrowings in cuironl liabilities. 1.9 Employee bènefits The cost of any unused holiday entillemenl is récognised in the period in which tho employee's 8ervic8s are re1ve. Tsrminalion benefits are recoglligéd immediately as an expense when the charity is d8monstrably commilled to terminate the employment of an employee or lo providè t8m)inalion benefits. .10 Retlrement benefits P#ym6nts to defined contribution retirèment benefil schemes are tharged as an expense as thèy fall due. 1.11 Fund a¢countlng Unrestricted funds can b8 used in accordancè with the chaiilable objectives at the discretion of thè trustees. 1.12 Taxation The charity is exempt from lax on ils charitable actiwties. Critlcal accoutttlng estimatss and ludgements In th8 applicalion of the charily's accounting policies, the ITuslees are requlred lo make judgemènts, eslimales and assumplions about th¢ carrying amount of as5els and liabilitiès that are not readily apparènt from other sources. The esllmates and assoeAated assumptions are based on historical expeiiencè and other factors that are considered to be relevant. Aclu81 results may differ from these eslimales. The estimates and underlying as8umplioris are reviewéd on an ongoing basis. Revisions lo accounting eslimales are Tecognised in the period in which the estimate is revised wherè the revisioll affects onw that period, or in the period of Ihe revision and futurè periods where the revision aff6¢ts both CUTrenl 2nd future periods. Kay sources of estimation uncertainty The eslimales and assumptions which have a significant risk of causing a maleiial 8djustmenl lo the ¢arrying amount of as591s and liabilitiès are as follows. Useful economic livÈs of tangible assets Management reviews the useful lives and residual value8 of the tangible assets on a regular basis. Ouring the financial year, the diredors determined no slgnilicanl changès in the useful lives and residual v81ues.
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 In¢ome from donations and legacles Unrèstricted funds 2022 Unrestricted fund$ 2021 Donations and gifts Grants Membership fees 88,015 500 12.7 51,045 11,995 11,970 I,522 75,010 Income from eharitable aGtlvitie$ Unrestrrctèd funds 2022 Unrestricted funds 2021 Heading #ac989 Sale of goods Charitable rental incomè 103,859 32,847 127,585 52,500 136,706 180,085 Expehdlturé on charltable activltles Charftable actlvilies 2022 Charitable activities 2021 Diraet costs Staff costs Depreciation and impaimient Enter ac905 in database 28,282 35.400 124,160 26.448 35.847 136,578 187.842 198,873 Share of support and governan¢o costs Isee note 61 Support Govemance 72,8e4 32,831 162 260,706 231.866 Analysis by fund Unrestricted funds 260.706 231.866
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs allockted to actlvltle$ 2022 2021 Council lax and ratès Insurance Light and he81 Rèpairs and maintenancè Telephone and inlemet Food cost Printing, postage and staliollery Cleaning Aceountancy Sundry expensés Governan¢0 ¢OSts 2,531 3,516 3,543 17,695 2,462 573 3.460 1,265 135 23,817 34,323 626 2,774 5.348 278 900 2,287 182 162 72,864 32,993 Analysed bètween: Charit8bl8 activities 72,864 32,993 Net movèm8nt in fund5 2022 2021 The nel movement in funds is slalÈd after chargingl(credilingl'. Depre¢lalion of owned tangiblè fixed assets 35,400 35,847 Trusteès None of Ihe tsustees {or any persons aonnected with them) received 8ny remuneration or benefits fFOtn the ¢h8rity during the year. Employee¥ The average moll1h number of employees during the y$8r ds.. 2022 Number 2021 Number Employment costs 2022 2021 Wages and salaries Social sècurity costs Other pension costs 27,799 337 146 28,233 191 24 28,282 26.448
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employees IContinued} There were No employees whose annual rèmuneration was more than £60,000. Remuneratlon ofkey managèm8nt pernonnel The remuneration of key management pe¥sonnÈl was as follows., 10 TaxatÈon Thé charity is exempl from taxation on ils a¢tivilies because all tts incorne is applied for charilable purposes. 11 Tangible fFxed assets Freeholdlgn Fretrhold Flxtures and artd bvlldlngs Improvements Total Gost At 1 January 2022 1,508.013 60,915 225.356 1,794.284 Al 31 De¢ember 2022 1,508,013 60,915 225,356 1.794,284 DepCIatIOn and Impaimient At 1 January 2022 DepreatIOn charged in the year 477,292 30,160 4,823 1.218 185,138 4,022 667,253 35,400 At 31 December 2022 507,452 6,041 189.160 702,653 Carrying amount Al 31 Deaember 2022 1.000,561 54,874 36,196 1,091.631 At 31 December 2021 1,030.721 .092 40,217 1.127,030 12 Dehtors 2022 2021 Amounts falling due within onè year: Trade debtors Prepaymenls and accrued income 2,941 307 10,988 257 3.248 11,245 13 Creditors- amounts falling duo wlthln one year 2022 2021 Other laxstion and social secuiily Trade creditors A¢xruals and deferred income 494 6.808 800 69 7,868 600 7,902 8,537 10-
UNITED KINGDOM TURKISH ISLAMIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14 Ret1ment benefit schemes 2022 2021 Deflned contrlbutlon schemes Charge lo profil or loss in réspèct of defined contribution schemes 146 24 The tharily opeTates a defined corFtribulion pension schèmè for all qualilyino employees. The assets of the scheme are held separately from those of the charity in an indèpÉndently administered fund. 15 Unrèstrletèd lunds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors antl grantors as lo how they may be used. These include designated funds which have been sel aside oul of unreslricled funds by IhÈ Irustèès for spècifie purposes. At 1 January 2022 Incoming rèsources Resources expended At31 December 2022 General funds 1,376,7Q5 237,228 {260.7061 1.353,227 Prevlous year: At 1 January 2021 Intomlng resoureès Rèsourcos èxpènded At31 December 2021 General funds 1,364,463 255,095 (231,866) 1,387.692 WArning.- Balance c/f from prlorperlod does not equal balance b/fin currenl period 1,376.705 16 Related party transactions There were no dlsclosable related pafiy Iransadions during the year12021- nonè}.