TURKISH CYPRIOT CULTURAL ASSOCIATION ## Accounts 31 March 2024 ## **TURKISH CYPRIOT CULTURAL ASSOCIATION** ## **Approval statement** I approve the accounts which comprise of the Profit and Loss Account, the Balance Sheet and the related notes. I acknowledge my responsibility for the accounts, including the appropriateness of the applicable financial reporting framework as set out in note 1, and for providing Hurkan Sayman & Co with all information and explanations necessary for their compilation. Turker Chakici 12 February 2025 1 ## **TURKISH CYPRIOT CULTURAL ASSOCIATION** ## **Accountants' report on the unaudited accounts to TURKISH CYPRIOT CULTURAL ASSOCIATION** You have approved the accounts for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes. In accordance with your instructions, we have compiled these unaudited accounts from the accounting records and information and explanations supplied to us. Hurkan Sayman & Co Chartered Accountants 291 Green Lanes Palmers Green London N13 4XS 12 February 2025 2 ## **TURKISH CYPRIOT CULTURAL ASSOCIATION Profit and Loss Account for the year ended 31 March 2024** |**Sales**
**Expenses**
Wages, salaries and other staff costs
Rent, rates, power and insurance costs
Repairs and renewals of property and equipment
Telephone, fax, stationery and other office costs
Bank, credit card and other finance charges
Depreciation and loss/(profit) on sale
Other business expenses
**(Loss)/profit**|**2024**
**£**
16,823
15,633
2,062
711
1,292
37
-
16,475
36,210
(19,387)|**2023**
**£**
56,637
22,398
2,497
4,272
1,286
-
3,140
13,633
47,226
9,411| |---|---|---| 3 ## **TURKISH CYPRIOT CULTURAL ASSOCIATION Balance Sheet as at 31 March 2024** |**Notes**
**Fixed assets**
Equipment and machinery
3
**Current assets**
Bank/building society balances
Cash in hand
**Net current assets**
**Net assets**
**Total funds of the charity**
Balance at start of period
Net (loss)/profit|3,039
4
3,043|**2024**
**£**
2
3,043
3,045
22,432
(19,387)
3,045|22,426
4
22,430|**2023**
**£**
2
22,430
22,432
13,021
9,411
22,432| |---|---|---|---|---| 4 **TURKISH CYPRIOT CULTURAL ASSOCIATION Notes to the Accounts for the year ended 31 March 2024** ## **1 Accounting basis** The accounts have been compiled on a basis that enables profits to be calculated in accordance with UK Generally Accepted Accounting Practice and that provides sufficient and relevant information to enable the completion of a tax return. ## **2 Profit and loss account analysis** |**Sales**
Sales
Hall Hire Fee
Grants
Fees Receivable
Donation
**Wages, salaries and other staff costs**
Wages and salaries
Admin Oficer fees
Staff training and welfare
**Rent, rates, power and insurance costs**
Rates
Light and heat
**Repairs and renewals of property and equipment**
Repairs and maintenance
**Telephone, fax, stationery and other office costs**
Telephone and fax
Stationery and printing
Other insurance costs
**Bank, credit card and other finance charges**
Bank charges|**2024**
**£**
1
1
12,973
3,265
583
16,823
1,732
13,811
90
15,633
191
1,871
2,062
711
513
7
772
1,292
37|**2023**
**£**
-
-
54,438
1,599
600
56,637
9,391
13,007
-
22,398
162
2,335
2,497
4,272
379
-
907
1,286
-| |---|---|---| 5 ## **TURKISH CYPRIOT CULTURAL ASSOCIATION Notes to the Accounts for the year ended 31 March 2024** |**Depreciation and loss/(profit) on sale**
Depreciations
**Other business expenses**
Donations|-
16,475|3,140
13,633| |---|---|---| 6 ## **TURKISH CYPRIOT CULTURAL ASSOCIATION Notes to the Accounts for the year ended 31 March 2024** ## **3 Plant, machinery and motor vehicles** |**Cost**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Plant and**
**machinery**
**£**
7,300
-
7,300
7,299
1,774
9,073
(1,773)
1|**Spare**
**£**
4,240
1,366
5,606
2,465
1,366
3,831
1,775
1,775|**Total**
**£**
11,540
1,366
12,906
9,764
3,140
12,904
2
1,776| |---|---|---|---| 7