Charity Number.. Company Number.. Homes England Number 1053864 3169665 H4099 YMCA LONDON CITY AND NORTH (Fomierly Clty YMCA London} IA Reglstered Charltyl REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 YMCA LONDON CITY AND NORTH
YMCA LONDON CITY AND NORTH FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2021 CONTENTS Reference and AdmSnlslralive delall$ Trustees Report Twslees Report for the Year Partners & Funders statement of Directors Responsibilities 11 Statement of Internal Control 12 Indepandenl Audltor's Report 13 Financial Statements statement of Flnanclal Actlvltles 16 Balance Sheet Cashllow Slatem9nl 17 18 Notes lo the Flnancial Sl8temenls 19
YMCA LONDON CITY AND NORTH TRUSTEES REPORT REFERENCE AND ADMINISTRATIVE DETAILS STATUS Company Limited byGuaranle&8nd cknes not have8 Share Ca131 SECRETARY Elbath Reè> Iie$iJnÈd 17 March 20211 Mi¢haFI 8urns lappojnted on 22 2021 and Resignedon 2QAuBusl 20211 JDTralhaD Foulktb8r{aplnt8d on 20Augus120211 REGISTERED OFFICE LandAid HOLts, 10 Eifol SIIEèL LOOn, Engl$nd, EC1Y USE REGISTERED NUMBER3 CompÈnles House- 0316g665 Ho Enoland- H409 Comni¥$ion- 1053864 AUDITOR8 Hrn1nre LLP, 10 Queen Slreel Place, London. EC4R 1AG SOLICITORS Travels Smith. 10 SrKW Hill. Lonthn. EC1A 2AL Sir0$ & Simmony, 1 Ropem2kerSlreel, London, EC2Y 95S BANKERS Alligdlrish B¥nk (GUI Wesl Centie. Cr038, UxbTidge Road. LondonW5 5TH PRINCIPALOFFICERS as a131 Illorch 2021 ChlÈf Execullve Dlrèttorof EktaioÈ •nd MalDt ProJ8cIÈ Drt(v of Cornmunlty anil Enterprlse DI11 olcorporale seIce Gllllan Bowen Jonhihan F1kn6r East EMIT Feis PBtron Loirl Mayor tsf thÈ Cityol LOon ThB Rl Revd È Rl Hon DÈmèSÈrnh Mullèlty. Bl$hDp of LO Th& R6vd Ros8 Hudson-wllkin (Bphil Edl. èi*hop Df Dovèr Vlce.Pre61dents Ccknnel Brlan Kay OBE DL TRUSTEES (See page 3}
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 202q The Trustees, who are also the Dlreetors ol the Company lor the purpose ol company law, present their report and fanCial stalemanls of the Assoclsllon for the year gndad 31 March 2021. The referenc& and adminlslrallve delall sel out on page 1 forms part of this report. STRUCTURE, GOVERANCE AND MANAGEMENT Introductlon Thls has been a momentous year In the oharily'$ h1810ry. Having carefully ¢onsidered the final Iransf&r agreem8nl the Trustee8 of Clty YMCA, London resolved Ihat the charity should proogd with acqulrlng the assets and Ilabllilies of YMCA North London as such a merger was deemed to b& sn the best Interests ofthe chariti85 obleGls. This b8eame elf8cllve on 9 October 2020. YMCA London City and North's futuie remains shaped by our cote values of Clty YMC London. The governing document of Clty YMCA, London remains and the organlsallon is governgd In accordance wllh Its Memorandum and the Arti¢les of Assoclallon. The Artlcles of Assoclalion wefe changed via a Special Resolutlon dalgd 4 M2y 2020 and as furth8r amended by a Special Resolulion dated 22 September 202Q. Thoy weie changed Ic) allow for the expanslon of the organisation's activities and governance In conneGlion wllh the merg8r in 2020 with YMGA North London. Company Hl$tory London Clly YMCA was Incorporalod on 8 March 1996 and Gommenced Iradlng on I October 1996. London C51y YMCA accepted a transfer of engagemonts from the Barbican YMCA on 1 D8cember 2005 and at that da18 changed Ib name lo Cily YMCA, London. On g October 2020, City YMCA. London aocepled a tranafer ofengagements from YMCA North London, Al the dale ol wrmplllny this report, Ihe or9aNisglion's name Is formally changed lo YMCA London City and North. The Company is limited by guarante& and does not have a share ¢apltal. DIrtorS and Trust8es The Dlrectors, whe are also Trusiees for the purposes of charity law and throughout Ihls report are refèrred lo as Truste&s, are elected at Ihe Annual General Meeting of the Associatlon for period not lo exceed three yaars or appolnled by the Board olTruste6s in the case ofavacancy in accordance with the Artlcl86 of Associallon. A Board of Trustees. who meèt at least quart6fly, admlnlsler YMCA London City and North. None of the Trustees have any beneficlal interast in YMCA London City and North. All of the Trustees are merllb¢rs of YMCA London City and North and are liable to conlrlbule £1 In lh8 event of a wlnding up. Tha work is accountable through regular rneetlngs ofthe Board, its Audlt Comm11180, Remunerallen Commlllee and Propety and DevelL>pmenl Committee. which recelve reports from the oxeGutive offlGers. The strategic plan provides gulrjance of the charity's key prloritles and all organisalion pollcigs and procgdures ¥e regularly revlewed. Thg Executive Team and Management Team me81 on a r6gular basls. Departmental and'AII Staff meeting$ also take place lo ensure effeve ¢ommunlc8tlon channel8 are rnalnlaine(i. Thè Board of TrusteBS is rèsponslble for hlgh level slrate9ic decislons, monllorlng performanGe again8t high level targets, ensuring slalutory and regulatory compliance,. ensuring fln8ncial controls are approprlale and managing rlsk. The Board (lelegale the day lo day responslbllllles of managing the aclivllles ol the Gharlty to a stalf team. The Chief Executlvo is ro$ponsibl8 for ieadlng the staff team, lialsing wllh the Board of Trusleos and koeping them appropriately Informed, developlng strategy. ensuTing targets are realised, affeollng stalulory and regulalory complianee, developing rlsk management policles and
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 processès, ensurlng day lo day managemènl Is eificlenl and ensuring Ihal the capaclly of YMCA London Clly and North18 adequate lo maet ils objecte8. The longest Sgrying ong IhlFd of Iho MembpTS of the Board rellre each y88r and may offer themselves for re-eleclion for a furtherthree years. A Twslee requires at lea81 two nominallon8 to be eleGled or re-ele¢led. All Trustees are subject to Disc108ure and Barlng Serv1 velling, in recognition oflhe fact that YMCA London City and North works with vulnerable groups. New Trustees receive a fomial Indu¢lir)n including induction malèrlals to acquaint them wilh YMCA London Clly and North's pollcles and procliceg, alms, activities, management and govemanc&. The Remuneration Commilleg, ¢omprfslng Board members meets as necessary lo review Ihe Salary Grade Pollcy and sel tho organisalion wide Pay Scale, All staff p0811ions are secured again81 the Grado S¢alè lo ensure that SAlaries are proportlonalo 1¢ Ihe18v81 of responsibllity of that role. As a result of the mergar, in January- March 2021 a revlew of top managèment IDire¢torale and Head ol Departmenlsl was undertaken vla a Corporate Servlces Phase One R851ru¢lure. The revlew Identified a numberof poslswhere Ihere was a duplicauon ofihe same role beeen the mgrged organisalirjns. Trls iesulled. via a comprehensive con8ullallon prosS, In a numbei of staff accepting voluntary wdundanclos as wèll as the red&ployment of olheTS io new positions.
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 Tho Trustees ofYMCA London Clty and North durlng thgyoafwoTe: Mr, Robert Thompson- Chalrman Mr. Mark Pouldlng-Wrighl- Vlce Chaiiman Mr, Gary Morley- Treasurer (Retired 9 Der2mb&r 20201 Mr. Mark Henshaw- Treasurer (Appointed Treasurer 9 December 2020) Mr Mlchael Baker (Appointed 9 October 20201 Mr. Daniel Gerrlng Mr Ph115p Graham (London Borough of Isllnglon- Appolnled 23 September 2020} Ms. Palsy Mills Mr hAark Thompson (Appolnted 9 October 20201 Mr Paul Tredwell (Appolnted 9 October 20201 Ms. Claudia Webbg (London Borough of Isllnglon- Rellred 23 September 20201 Mr. Marek Wluszynskl Netwo)* and Other Rglatlonshlps YMCA London City and North Is an indendent member of the YMCA movemènt In England and Wal$s. Subsldlary Company YMCA London City and North has a wholly-own8d dormant subsidiary, City YMCA, London Trading Llmiled. Rlgk Management The Rlsk Managemgnl Policy and r81aled procedures were revlewed and updated durlng the year including approval of the latest rlsk register wllh action plans by the Board of Trustees in accordance wilh Ihe Policy. The Trustees mainlalned two Risk Registers the general oiganisalion register and a dedicated LandAid House reglsler, wilh the Involvement of our Employers Agent. The Trusteès confirm ¢onlrols are In place to mlllgate. as far as possible, the Identified risks. Praotioal complellon of LandAid House was achleved on 8 March 2021 with monitoring of furnlture, fillings and equlpmenl lo continue. Key risks lo the organisallon Include.. Management ol lh¢ Ilmetable and cost exposure of LandAid House Ilncludlng impacts of Coronavlrus pandemlcl.. YMCA London Clly and North, have appolnled a professlonal team lo manage the JCT Deslgn and Bulld contract, with limilgd Items of provi8lonal sums. The conllnulng lack of fundlng for LorAI Youth Servlc88, this limits our ablllty to 8UPPOrt the needs ol vulnerable young people. YMCA London Cily and North continu¢s lo manage our loc81 rolallonshlps wllh the slalulory providers and lo pursue new opportun5ties that are under developmènt. A malor incident artslng from a 8afeguarding breach, YMCA London City and North conllnues lo regularfy ieview our Pollcles and Procedures and fefresh our Iralnlng for staff around Safeguarding. Professlonal Boundarles, Fire, Flrsl Afd and Health & Safety to gnsure thatwe contlnuo to offer a secure and safe place for vulnerable youn9 people. Impact of Coronavlru8 ICOVID-191 The accounts have been approved by the Trustees al a Ilme when Ihero Is signllicant uncertainly as a result of the emergence and Inrnational sproad of the Coronavirus ICOVID- 191. With tho introduction of related vlrus control measures across the world 8lnce early March 2020, and In commn wllh most other organlsatlon8, YMCA London Clty and North has beon
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 forced to curtall Its aclivllias. This led lo the cessallon of face-to.face youth proje¢t8 8nd we look the opportunlly to revlew and implement the delivery of some youth progfamm85 via virtual plalfoTms. Our houslng operalionswere broadty less 8ffeGled. Ourconstructlon tgamwere able lo atlaln pra¢llcal ¢omplelion on thg LandAld House development on 8 March 2021. YMCA London Clty and North ¢108ed Its H9ad Offi¢tr March 2020- September 2020. relocated adminlslraliv8 actlvllles toworklng from home and utilised the UK govgrnment Coronavlrus Job Rgtgnllon Schema lo furlough Idenbfled roles, Beyond Ihls, a hybrEd work approach was required as lurther governmonl lo¢kdown8 requlred Intèrim head offlce ctosures and further actlvity cessallons. The charlly sought lo navlgale Ihi5 pand8mlc landscape within its best ¢apablllli8s and abNays in Ilnewlth govemm$nl guldance. We continued to fundraise and ulilise rslalionship8 With key donors and supporter8 In order lo ensure robu8t continuity of servlce8 for young people and our overall business. All Tru818e meallngs were convoned via vlrlual plallorms. Overall, through appTopriale conslderallon of rlsks as part of 118 nom)al ¥lsk managemènt processes and miligaling aclbrbs both already iaken and avaSlable to bo lak¢n ihe Board conskler It Is stlll approprlats for the going wncgrn basls to bo adopted for these accounts. Fundralsing Statèmont YMCA London Clly and North voluntarily signed up 1¢ the Fundraising Regulator 2018 and all fundraising acllvlll8s continue lo carrted oul under the Fundraislng Codo. We Gonllnue to adhere lo the GDPR regulations In our ongoing communlGallons about our work. We have recelved no complaints about our fundialslng actlvlllès or about our use of personal data. All our fundralslng work has been carried out by our trustees or slaff and our Appèal Dlreolor is a mèmber ol the Inslilul8 of Fundralsiru. Fundralslng acliviligs are regularly reviewed by the Board in line wllh our reporting procgdures. Wa parlnBr with a very small number C¥1 donors and nev8r ask an individual for a donation mole than iwlce In any finanGial year. AIMS, OBJEcnvES AND ACTIVITIES ObJe¢ts The history of th$ YMCA ha5 Ils roots In a Christian basls. having been founded in London In 1844. Tha oblecls of YMCA London Clty and North as defined In paragraph 4 01 the Memorandum Include: To provlde re8ld&nlial acoommodalion, inoludlng soclal housing, for people of all ages 2nd In parllcular young peopl8, who ar& In noed. hardship or dSslress by rea8on ol Ihelr soclal, physical, emotional, spirftual or economic circumst8nce8. To provlde or asslsl In thè provision, in Ihg Inleresl ol so¢lal welfare, of facllllles for recreallon orother leisure lime 0Upat)n for men, women and chlldren wllh the object of Improving their condlllons of Ilfe. Ovèrall Alm YMCA London Clly and North has a vlslon of a world where young people and conMnunilles are equipped lo create a futurè ol thelr ch0051ng. YMCA London Clly and North has a mlsslon to help young people and communilios bulld 8 fulvre and does thls by provlding a r?nge of seryices that support young people and communlllfjs lo bulld a future In which they ¢an make Informed and supportèd ¢holces.
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 YMCA London City and North strives to provlde hlgh quallty servlces for benellclaries grounded In the values of respect for the indIdUal and Ihelr cultural, splrilual and fallh needs. encompasslng diveTsIty and Incluslon,. and equality of opportunllies and acce$s. We have referred to the informallon Contained In the Charity Commission's g8neral guidance on publlc benefit when reviewing our alm and In plannlng our fulure aclivilieg. In particular, the Trustees consider how planned aclivllles will ¢onlrlbule lo the aims they have sel. We provlde publlc benefit through the seNlcos we engage In lo achleve our Intended outcomes. MèrgerAlm5 The key aims of the merger were Identified as.. Redefine the standard of accommodallon for homeless young people In London. Redevelop acGommodalion In Crouch End, Harlngey. Better enable the abllily of young people lo move.on posilivety- Enhance our community provlslon, inoludlng chlldren's servlces, health and wellbelng and local engagement lo make a grealgr Impact for our beneflar1e8. Activitles Th¢ prlnclpal aolivily of YMCA Ltsndon City and North is lo help young people and communllles lo bulld a future. by provldlng a range of seNlces. Th8se acllvllles ar8 across th8 breadth ol six Local Aulhorllles Ilsllnglon,. Haringey.. Hackney., Barn81.' Tower Hamlols., Newhaml and the Clty of London. As a result ofthe merger. greater effi¢ien¢ies ol scale and scope are anliclpated. The ranga of aclivitles include.. Accommodation,, In¢ludlng three h081els and iwo move-on houses tolalllng 395 bed spaces. Children's seNlces.' Crèche, Breakfast Club. After School Clubs and Hollday Play Sch6me5 Health and wellbelng: includlng iwo lilne5s cenlres Youlh and commtjnily,. Including 2 youth centre8, 2 communlly cenlres and communlty engagement acllvllies Key achlevements YMCA London Clly and Norlh continue5 on Its trajectory lo en$ a Vlbrant Future for Ils services and engagemenl wlth young people. Al th8 heart of our strategy remains our Intent lo work in areas ol housing. youth and Community, hea51h and well-being where11 mBkes sense for us lo do so. We Gonllnue lo ullllse strategic evaluation tools lo guide tsur declslon maklng and we w511 al80 continue to support some of the most marglnall8ed and vulnerable young people in London. Our PLJrsull of excellence has not dlmlnlshed and w8 recognised that our abillly lo achieve our objectives within thè anllcipated Ilmelines were not wholly possible. A8 we navlgatod a landscape ol a Coronavlrus pandemlc. a complex charitablè fundralslng envlronmenl and a merger - we are pleased that we were silll able lo atlaln, In whole or in part. our key aGhievements. For the yoar 2020-2021 wg sald that Wo would: Revlw tho due dlllgence of mèyglng wlth YMCA North London wlth th8 Inlentlon of complgllng a Merger-Transferrlng asset and Ilabllltles of YMCA North London In to the Clty YMCA, London entity: We successfully conduded due diligen¢e and
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 offidalty completed the m8rger, by way of transfor ol assets and Ilablliltes on 9 O¢lober 2020. Open LattdAld House: We Successfully attained pracllcal completlon on 8 March 2021. We have a range of next 8leps to undertake, Into the comlng year, for th¢ LandAkl Houselg be open. R8vl•w use of technologyj Including vlrtual platforms, forthè benèllt of front Ilne work and staff ¢onnectlvlty,' With good fortune, the charlty had undertaken an operational review of our fequlremenls during 2020-2021, Therefor&, when th8 unforeseen force of the Coronavirus pand8mic arrbved in the UK, w8 were gble to quickly mobilis& our IT nè8ds (having pre4ssess8d equiprnenl ne6ds and specifications etc} and orderod devlces to ensura stsff tonneclivily and communication. Malntaln our engagement wlth the reglonal and int&rnatlonal YMCA.. YMCA London Clly and North have continued to engage wllh the broadar YMCA movemenl over virtual plallorm$ for lh6 year. On a reglonal, national and Inlemalional level, we have engaged in meellngs and seminars for support and engagemanl. Thls In¢ludes the YMCA World Urban Ngiwork, which is a global CEO leadershlp forum. Tho YoarAhaad YMCA London City and North retains the ambltlon lo help more young people and ¢ommunltles in London to bulld a future. Prlnclpally, wè wlll achleve this Ihmugh reshaping the standard of accommodallon for hom81e$B ytsung poople and d8llvering youth and community focu858d Inlllalives. YMCA London Clty and North: We wlll f0m1al launch the naw name of the merged organiyalion and promote this ihrough a new charity websll8. Open LandAld Hou$0: W& wtll welcome youn9 peoplo Into the purpose bulkl d8v81opment Crouch End Development.. We will seek to commence an opllons appraisal for the aeeommodalion slte. stratggic plan.. We will develop a new slrateglc plan for YMCA London Clly and North Tru$t*& re¢rultm&nt: We wlll underlake a SlIS and governance audlt to assist in the recrullmenl ol new Iru8tee8 wllh a focus on equality, dlversity and incluslon. FlnanclAI Revlew The overall surplus for the year on tb8 Statement of Flnanclal Activilles amounted to £915,336 compared to a surplus of £430,375 tor thè prevlous year. Durlng the year, fLrth&r InvÈstm&nl of £3,825,678 wa8 mad8 for the conllnuing redgvelopmonl of LandAid House. Thls was made possible by drawdowns from our agreed loan wllh AIBIGBI. Our a¢counb agaln reflect the value of th8 lease from Crlpplegale Foundation for The Drum bulldlng at a pepp8r¢orn rent, Included al £30.IK)O for th8 yeor. Mso Included 1$ the value of donated 8ervlces to a55lSt the morger from TRv6r8 Smith LLP £155,85712020, Totsl donated service Income.. £155.020). Staff costs of £96,413 {2019', £109,840) have been capilallsed In ac¢ordan¢e wllh FRS102 reflecting Internal work on the rodevolopmenl.
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 Value for Money YMCA London City and North strlves to deliver value for money throughout all of Its aclivllles and procurement. We have dov8loped a Value lor Money slralegy which Is compliant wlth the Regulator of Soclal Houslng guldanG¢. Thls Includes maxlmlsing Income from all sources and the appropriale lenderlng of key ¢onlracls. We also measure value for money based upon our soclal Impact whlch enables us to develop rneasures lo assess performance and priori118e re80urces. YMCA London Clly and North Cgmplles with the HCA Governance and Flnancial Viability standard. The organlsalion has adopeed the NHF Code of Governance 2020 and is sallslled that it complies with the spirlt of the codè and prlnclples sel out In11. VFM Metrics 2021 2020 Relnveslmenl % 18.10% 27.93% New supply dellvered %- ¥¢clal housing 65.06% 0.000 New supply dellvered %- non-soGlal houslng 0.00% 0.00% Gearfng % 24.05% 45.07% EBITDA-MRI Interèst cover % 238% 968% Headline social houslng cost per unll £12,764 £13.356 Operating maroln % social houslng -26.41% -27.38% Operaling margln % overall -35.97% 40.34% Return on Gapltsl employed 0/0 4.18% -3.63% Golng concern Financlal statomenls have been prepared under Ihe going concern ba8ls as iequlred by FRS102. The Trusloes have revlewad forecast rèsu118 and cashflows up to 31 March 2023 and are satisfied these support the golng concern basls. The charily18 currently In ongolng dlscusslons wllh HMRC around the VAT Iroalment of hostel Incom&. The trealment. adopted priDr to HRMCS inspection, Is as used by a number of other YMCAS. The Trustees bellev6 based on Independent advlc8 that this position is correct. HMRC are argulng a different Irealmenl whlch the chaTity dlspules, and which would negatlvely affeGt the charity's lulure results and ca8hflow8. However, the Trustees are satisfied the Impact ol Ihls could be miligal&d 8fleclivety albell Ihoy oonsider thls unllkely lo bg necessary. This matter went to a First Tier Trlbunal Hearing on 29 Maroh 2021 and the outcom8 Is slill awaltsd al the approv81 of the FSnanclal Statement.
CITYYMCA, LONDON TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 ReseNes Pollcy The Trustees are aiming for unresliicled reserves representing between three and six months, unreslricled expenditure. This would provide sullicienl funds for the maintenance ollhe current a¢livilies in the event ola significant drop in funding and also provide time lo allow consideration of change8 in activities or new sources ol funding. During the current m8jor redevelopment this buffer is not practical bul will be reinstated on LandAid House becomes operational, with a plan lo bulld up reserves post completion over f1ve years. Restricted reservès represent funds raised for the purpose of the redevelopment of Landd House. Partners and Funders Our sincere thanks go lo all olour partners and funders that have made the development of LandAid House possible and lacililated OLir ongoing work in providing accornmodation to homeless young people and inletvening in the lives of those young people who are most al Our appreclatlon goes to: Allied Irish Bank B&Q Foundation Beacon Lodge Charitable Trust Bishop of London's Mission Fund City of London Corporation Cripplegale Foundation Community Festivals Fund, Islinglon Greig Trust Grand Charity Freemasonry lor Women Homeless Link Hoinsey P81ish Church John Lewis Partnership (Victoria Olfi'cel LandAKI Chafilable Tiust Local Infrastructure Levy, Islington Local Initiatives Fund. Islington London Borough of Barnet London 8orough of Hackney London Borough ol Haringey London Borough of Islinglon London CommLJnily Response Fund London Marathon Charil8ble Trust Marigold Health Foods Melage Capi181 National Lottery Power lo Charge Sport England Travels Smith LLP YMCA Met Region Trust YMCA England & Wales
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 Houslng D8llvery Partners Alone in London Central Care Cenlrepolnt Circle Crlsls Come Correot CPPD Coun8&lllng School Crisis DèPaul UK Enlleld Councll EQUIP Greenhousè Proje¢l Growth Haoknèy Counoil Hope Worldwide IpswSch Care Leavers Islinglon Councll London CRC Man8 Soclety New Horizon No First Nlghl Out No Second Night Out Nurture Acadgmy One Housing Pllllon Trust Probatson Servioe Provld8nc¢ Row Shelter from the Storm Social SeNlces Sl Glles Trust Sl Mungo's Thames Reach Tower Hamlets Council Wallham Forest Councll Westmlnsler Housing Opllon 10
YMCA LONDOM CITY AND NORTH TRUSTEESI REPORT FOR THE YEAR ENDED 31 MARCH 2021 AUDITORS A resolulon lo reappolnt Haysmaclntyre LLP wlll proposed at the forthcoming Annual General Meeting, DIRECTORS, RESPONSIBILITIES Company law requiies the dlrectors to prepare Ilnanclal slal8menls for each finanelal year which give a true and fair view of the 8lale ol alfalrs of the company and of the surplus or d8licil ol the Company for that period. In preparing those fi'nancial sialemenls the directorg are required lo: Select sullable accounting policies 8nd apply them conslstenlly Make judgements and estimates that are re8sonable and prtjdenl Slate whether appli¢able accounting standards have been followed sublecl to any malerlal deparlufes disclosed and explalnad in the finan¢ial 8t8temonts Preparo flnanclal ststemenls on a golng concèrn bas18 unl8ss It Is inapproprlat¢ to presume that the company will Gonlinue in business. The direGiors are responsible for keeping proper ac¢ounUng records whlch dlsolo¥e wllh reasonable accuiacy al any time the flnancial position of the company and lo enable them to onsure Ihat the financial slalèmenls comply with the Companles Act 2006 and legislation relallng lo Registered Providers of Soclal Housing. They are also respons5ble fc%r safeguardlng of assets of Ihe Company and hence foF taking reasonable $16p8 for the preVentn and dete¢tton of fraud and other irregLslarllles. Each of th8 directors has confirmed that 80 far Bs they are aware, Ih8re18 no relevant audit Inform8tlon ofwhlch th8 company's external audllors are unaware, and that they hovè taken all the steps that they ought to have taken as diroclors in older lo make themselves aware of any relevanl audit InlormallE>n and to each that th¢ Company's Independent audSlors ara aware of that lllformalion. 11
YMCA LONDON CITY AND NORTH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 IERNAL CONTROL The Board of Trustees acknoedgeS ils ulllmate responsiblllligs for gnsurlrng that YMCA London Clly and North has in place a system of Gontrols that 18 appropriate lo v8rious buslnÈss envlronmenls In which il op8ral@s. ThesB controls aTe deslgnatod lo glve rea80nable assurance with re$pe¢t lo.. Ihe r&liabl1Sly of financlal infoimallon used within the company or for publlcation Ihe mainlenance tsf proper accounting records Ihe s8f8guarding of a8sols against unaulhorised use or (lisposilion lh¢ control of k8y financial risks through do8rty lald down aulhcsrisalion levels and proper sègregation ol duties sublectlon of all planned new inlllallves lo a detalled risk asse88manl process, the re8uIts ol which are reported to thè Board ofTruslees a fundamental revlew of strateglc risks and costs and a consequent reassessment of th8 prk)ritles and of the mean8 01 dellvertng services selllng budgets and managlng withln resources uslng resources effeclwety. 11 is the BtsaTd's responsiblllly lo establish and matntain systems of inl¢fnal financlal contro5. Such syslgms can only provlde reasonablè and not 8bsolkJte assurancé ag8ln8t malerfal flnancial misst8tem8nl or loss. Key elements include ensurlng that, Formal polioies and pradreS are in placa, including the doGumentallon of kèy sysi¢ms and rules relating to the delegallon of 8ulhority, whleh allow the monitOTlng of controls and restrict the unauthorlsed use of the company's assets. Exp¢rlenGed and Suitably quaiifi8d Blaff lakes responsibillly for important business funcllons and annual appraisal procedures have been e8labllshed lo malnlaln standards of perft)rmttnce. Clear responsibilities on the part of line and finan¢lal managem?nl are In place for the malntsnan¢8 of good flnanclal controls 8nd the prodLrcllon of accurate and Ilmety rinanclal management Inform81ion. Budgets and f¢re¢asls are prepared whlch allow th8 Board and Management lo mon5tor the key buslness rlsks and flnanclal oblectiv85, and prograss towards financial plans sel for the year and the medium term, regular management accoun18 are prepared promptly, provldlng relevant, rellable and up-to-dale financial and olher informatlon and snIfan1 varian5 from budgets are Invesligated as appropriale. YMCA London Clty and North London's extgrnal audllors revlew the Internal flnanclal controls and proceduTes and the Audit Commlttee monllors their r8PC¥rt8. All 8ignllicanl new initE81ives, m8jor commllments and Investments prol$¢ls are sublecl lo formal aulhorisation procedures, through relevant sub-committees omprl8lng B08rd members and others. BY ORDER OF THE BOARD Robert Thompstsn, Ch8Sman Mark Hgnshaw. Treasur8r 12
Indepèndent audltor's report to the members of YMCA London aty and North (formerly Clty YMCA Londpnl Oplnloh We have audlted the flnanclal statements of YMCA London Clty and Nortli Iformerly Clty YMCA LDDdonl lor the year- ended 31 March 2021 whlch comprlse the statement of fin2nclal actlvltle5. the balance sheèts. the statement of cash Il¢>ws and note5 to the flnancial statements, Includlng a summary of 518nlfl¢ant accourttlng pollcle5. The Ilnanclal reportlng fram2work (hat has beén applled In thelr preparatlon Is appllcable law and Unlted Klngdom Accountlng standard5. IDdudlng Flnanclal Reportlng Standard 102 The FlnGnclul Reportlng Stond(yrd applicable In the UK ond Republlc ofirelcndlunlted Kingdom Generally Accepted A¢¢ountlng PraetlcÈl. In our oplnion, the fir¢ancia1 statements.. glve a true and 14lr vlew of the state of the charltoble companVs affalrs as at 31 March 2021 aNI of its net movement In fund5, Includlng the Income and expenditure, for the year then ended,. have L7een propeily prepared In accordance wlth Unlred Klngdorn Generally pted Accountln8 Practlte, the Houslng and Regeneratlon Act 2008 and the Ac¢ountlne DlrectioD for Prlvate Reglstered Provldets of Soclal Housln8 from January 2019,, and have been prepared ID accordance wlth the requlrements of the companles Act 2(X)6. Basls for opinion Wè conductèrt our audlt In accordance wlth Inlernatlon31 Standards on Audltlng IUKI IISAS IUKII and applicable law. Our Te5ponslbllltles under those standard5 are further descrlbed Irs the Audltor's responslbllltle5 for the tsudlt of the flnanclil statements 5etllon ol our report. WE are Independent of the charity In accordan wlth the elhScal requlrements that aye rtrlevant to ou¥ audlt of thefinantlal statem8.nts In the UK, Includlng the FRC's Ethlcal Standard, and we have fulfllled our other ethlcal responslbllltles In accordan wlth these requSrements. We belleve that the audlr evldence we have obtalned Is sufficlent and approprlate to PTovldè a basls for our oplnlon. Conduslons rdatlngto Bolng concem In audltln8 the linanclal statements, we have concluded that th& trustees, use of the golng concem basb of accountlng In the preparailon of the1Snanclal 5tatements15 approprlate. Based on the work we have perforrned, we have npt Identlfled any materlal uncertalntles relatlng to events or condltlons that, Indlvldually or collectlvely, may cast $18nificaht doubt on the ¢hartlablp Company's ablllty to continue as a golng concern for a perlod of at least twelve motiths from when the flnancial statements are auilKSrl$ for Issue. Our responslbllltles and the r¢sponslbllltiès of the trustee5 wlth re5pe¢t to golhg toncern are de5crlbed In the relevant séctlons of thls repgrt. other Informatlon The trustees are responslblo for the other Inforrnatlon, The other Infoimatlun comprise5 the informatlon Includéd In the Trustees, Rpport Our oplnlon on the finBnclal 5talements does not cover the other Informatlon and, e.xcept to the extent otherwise expli¢itly ststèd In our report, we do not express any form of assvrance concluslon thereon. In connectloH wlth our audlt of the linancial statements. our respDllslbllity Is io read Ihe other Informatlon and, In dDlng so, conslder whèther the othei Informatlon Is mateT1311y Inconslstent wlth the Ilnanclal statements or our knowledge obtalned In the audlt or otherwlse appears to be matèrlally mls5tated, If we Identlfy su¢h materlal Incon51sten£les or apparent material mlsstatements. we are requlred to determlne whether there Is g materlal m15Statement In the flnantlal statements or a materlal mtsstatemeni of the other Infoimatlon.1f, based on the work we have performed, we conclude that there Is a materlal mlsstatement of thLs other informatlon, we are requlred to report that fact. We have nothlng to r&port in thls re8ard. 13
Oplnlon5 On other matters prescrlbÈd bythe Companles Act 2006 In our oplnlon. based on thework undertaken In the course of the audlt: Ihe Informatlon glven In the Dlrectors, Report Icontalned wlthln the Trustee5' Annual Report) Prepared for the purposes of company law for the flnanclal year for whlch the flnanclal statèments are ptÈpared Is con51st@nt wlth thè Ilnanclal statements,. and the Dlrectgrs, Report Icontalned wlthln the Tru5tÈes' Report) has been plepared In accordance wlth appllcable legal requlrements. Matters on whlch w• are requlred to r•port by exceptlort In the Ilght of the kn¢wled8e and understandlng of the charltable company and Its envSronrnent obtalned ITh the coyrse of the audit, we have nol Identified materlal mlsstatements In the Report of the Board, the operatln8 and flnanclal revlew or the strateglc report. We have n(Trthlng to report irn respect of the followlng matters In relatlon to whlch the Companles Act 2006 iequlres us to report to you Sf. In our oplnlon.. adequate accountlng records have not been kept by the parent charltable company- or the paTent charitable company flnanclal statements are not In agreement wlth the accountiri8 records and returns,. or rtaln dlsclosure5 of trustee5' remunÈratlon specifled by law are not made. or we have not recelved all the Informatlon and explanatlons we requlre for our audlt. Responslbllltle5 of trustees forthèflnanclal statements As éxplalned more fulw In the Statemevt of Responsibllitles of the Trustee Board set out on page 11, the trustees Iwho are also the dlrectors of the tharltablè company lor the purpose5 of company lawl are responslble for the preparatlon of the flnandal statements and for belng sati5fled that they glve a true and falr vlew, 8nd for such Internal control as the t¥U5tees derermlne Is nece55ary to enable the preparatSon of flt)anclal statemellt5 that are free from material mSsstatement, whether due to fraud or error, In preparlng the flnanclal staternents, the tru5tee5 are responslble for assesslng the charltable company's ablllty to contlnue as a going concem, dlsclosln& as appllcable, matters related to 8olng coThcein and uslng the goin8 concern basls of acctsuntlng unless the trustees elther Intend to Ilquldate the charltable company or lo cèase operatlons, or have no reallstlc altematlve but to do so. Audltor'$ responslbllltles for the audlt of the flnanclal statements Our oble¢tlves are to obtalTr reasonable assuran about whether the fin3nclal statements as a wholp are free from materlal mlsstatement, whether due to fraud or error, and to Issue an auditor's report that Includès our oplnlon. Reasonable assurance15 a hlgh level of ?s5uran¢e but is not a guarantg.e that an audlt conducted In accordance wlth ISAS IUKI wlll alway5 detect a mateTlaS mlsstatement when It ex15ts. Misstaternents can arlse from fraud or error and are corssldèred matèrlal If, Indlvldually OT In the ag8roBate, they could reasonably be expected to Influence the economlc declslons of users taken on thè basls of thesè Ilnanclal statements. Irre8ulaTltles, Includlng fraud, are lristances of non-compllance wlth laws and regulallons. We 1£n procedures In Ilne with our responslbllltles, out11ned above, to detect rnateilal mi5Stalements In respect of Irregularltle5, Includlng fraucl. The extent to whlch our procedures are capable of detertlng Irregularltles, Intludlng fraud Is detalled below: 14
Based on ovr understandlng of the charltable company and the envlronment In whlch It operates, we Identllled that the prlnclpal rlsks ol non-compllance wlth laws and reeulatlons related to tlie regulatlon of reglstered charltles and registered provlders ol soclal l)oiislnE, and Health and Safely reBulation, and we consldered the oxtent to whlch non- compllance mlght have a materlal effect on the flnanclal statement5. We also consldered those law5 and reBulatlon5 that have a direct Impact on the preparatlon of the flnanclal statements Such as the Companles Act 2006, the Charltles Act 2011 and the Hou51ng and Regeneratlon Act 2008, and we consldered other factors such as tax compllance. We evaluated manaEement's InntIVeS and opportunltles for fraudulent manlpulatlon ol the flnanclal statements lincludSng the rlsk of overrlde of controls) and determlned that the prlncipal r15ks were related to areas of estlmatlon uncertalnty and manual accountinglournals. Audlt procedure5 performed by the engagement team Included.. InspectlnB correspondÈnce wlth regulators and tax authorltles,. Discu5$1ons wlth management Includlng conslderatlon of known or suspected Instance5 of non-compllance wlth laws and regulation and IraiJd- Evaluatlng manaEemenl's controls designed to prevent and detect IrrÈgularltles,' IdEntlfylrig and testlnE a sample of manual journals., at)d Challenglng a55umptSons and judgements made by management In thelr crltlcal accountin8 e5tlmates A fLirther descriptlon of our responslbllitSes for the audSt ol the Ilnanclal statement5 15 located on the Flnanclal ReportSng Council's webslte at.. www.lrc.or .uk audltorsres onslbllltie5. Thls descrlptlon form5 part of our audltorfs report. Use of rèport Thls report is rnade solely to the charltable company's member5, as a body, in accordiince wlth Chaptor 3 of Part 16 of tl)e Companles Act 2006. Our audlt work has been undertaken 50 that we mlght state to the charltable company's membors those matters we are required to state to them In an Audltor's report and for no olher piirpose. To the fullest extent permltted by law, we do not accept or assume respon51bllity to anyone other than the charltable company and the charltable company's members, as a body, lor our audit work, for thls ieport, or lor the oplnlons we havo forrned. Rlchard Weaver Isenlor Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor Date.. 29 September2021 10 Queen Street Plate London EC4R JAG 15
YMCA LONDON CITY AND NORTH Ilncorporqllng a oon8olld&lod In¢omfj 0xp0d[lll oCtoU1) lorth&y&Arended 31 MBicli 2021 20Zq 212D Incomè from- Unmslrfcled R881rlcted Tot41 Fund8 Tolal Fwnd$ Don&llon8 Dona110115 DonBIIoiiB- Drum bulkllr DonollotbB- foo& 231,780 742,166 20.MO 155.e57 928.025 971948 30,0 155,fj57 1,169,806 170.78d 30,OCA) fS5.020 364,804 231.780 ChfirtlabloAcll¥ll1•8 & Olh•rlnGom Hou8Tng liwrne Youlh Projects Income Crounth End Cthrtnunlty TaiNnD Road othgT Income 2,637A77 2,637,477 69,508 90,607 52.295 8,846 747.450 3,005,572 1,377.7 191,301 89.69 .607,00 52.ZQJr.00 ,645 747.460 3,636.374 L1&t¢d D4mag65 ¢on8liudlon Intoma 730,300 2,314,U)8 89,59 Inv4simonl In¢oTh 15.428 7.87B l01•l InGom EXPENt>lTUftEON'. 3,783,082 997,623 4,781,206 6U.520 68.520 88.991 Costs olralslnB fund 6U,520 88,6ZO 68.991 nu Ewendfture 3,004,511 202,469 3..980 1,755.027 Y¢uih PrdB¢tÉ 274,303 Croth End C0rnrnUty 337.057 337,057 .755 50,755 Leg01 Fees probano 155,857 155,857 155,020 Exp•ndltum ehtrftll8bl8 8¢tlvllles 3.388,323 4Y2,047 3.8foAYO 2,164,3SD Total èxPBd1lU1o 3Ua TOTAL 3,460043 472,047 3,93D,890 2,253,341 Incom• foTlhoygRrbofor¥100$•0 •nd galnA 316,73 62J,678 842AIS 434.147 Plot go15 and Ilo¥¥•$l In¥081menlB 73,021 73,021 NBI Incomoforthfyyè8r 389.76D 825,678 gIEM36 A30.370 Transfeis between lunds S25,578 1625.S701 2N15,303 2,415003 RgconcIIIAokn¥ ofluRds.- Nèl I0¥M¢nI ID lunds 430,310 TolalfUnthbrou8htlord IromatyYMCA $,355.1611 3,35S,165 2.924.790 Totil lund carrlottfoThMfd 8,686,J04 6,6&6.8Q4 3.365,165 Tho Slolomgnl olFlnanGW AciMwg9 dUdS 511 qahi8 and resed In Iho y¢ar. Iho rrfthionp4gis 1040 IDnn p4rf olthty 16
YMCA LONDON CITY AND NORTH BALANCE SHEET AS AT 31 MARCH 2021 Company No. 03169685 2021 2020 FIXÉD ASSETS Int4nulbltr A88618 note 4189 TonglbloAssqtb FIH Hou81ng Propèrty UH Hou$lDg wopèriy Monafch Court LeH5ehokl ImproveMenl8 Olher a88tl Inveslmenls 24.Jt6,288 960, 188 25.000 242,142 970.516 26,519,323 19.630.8IQ 1,070,977 31,250 8CI.fj62 124.849 20,946,648 TOTAL FIXED A8SET8 CURReNf A88ET8 si¢ D&)tor8 Short Term DeposllB Cash al bank and hand <lyear 2317,212 9T,922 32,189 T84,005 914.976 1,286,333 1,636.896 redllois.. Amount8 faIng duel117 onB yoar Loan Le55 Ihan l Yew GLA housing granl MC GLA hOUng oranl LAH Llquidaled Oamaoss Credlloi Dalned ben¥1 PenOn Sch8rne payments NET CURRENT LIABILITIE5 10 12,083,447) 12Jl,6J91 (2,374701) 186.1601 187.6001 1334,8471 12 174,4621 11.936.0931 TOTAL A5SET$ LESS CURRENT LIA81LITIES ¢radltor8'. Amouiits falllng du• ov•rone yoar GLA MC hOung gronl GLA LAH houslno gianl AIB Loan Co-operalfve Bank NelAsseislLlablllles ex¢ludlng pOnOn lblty 24,686,711 19,¢08,46S
1year 1y8r 1year 1 ygar 1516.geoi 18,872.4WI 16,108,2041 148,8671 7,342.480 16Jfs.6761 6.685,0114 1803,1201 16,J70.0001 18,177,8231 3,657,512 12 TOTAL NET ASSETS OR LIABILIT125 3,366,166 Fund5'. Unre$trlcted Do$Tha1¢d Flxed A88el Fund¥ Pen91on reBetV8 7,418,942 3.710.873 1355,7071 3,355.166 3,35S,186 6.685.804 6.686.804 TOTAL FUNDS The not85 on pages 19-30 lom? part of th8 finandsl ¥18leMonlg, The linandal ¥taiwn&ntgwere apw¢wed and aulhoil$ed for IBSUD bylh Board on 23id Septemb&r2021 and B1gn8d on Its behalf by.. Robert Thows0, Ch8imJ8 M8rl( H8n8h8w. Tre8sure 17
YMCA LONDON CITY AND NORTH CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Ca•h Ilows Irom ope¥atlnu a¢tlvhl• Noi¢a%li used byopeiallng 8cllvlll&g InDte Al Ca¥h Itows from Ihvestlng 8c¢lvlllBS lnv8slmenll0m0 ie¢el¥ed 3,121,298 264.010 1&428 54687 214,686 7,878 Long Term Loan Cash pBld h resp8clol langlNo flx6d agsels PurGh#strol Inv681monl GLA granlrece5ved N•l cH5h provldgd by In¥g811ttg aollv111è8 13,950,0371 [3,2421 2.190.0 1,643,820 I1919) Clianyeth Gasb a1c&h 0qVa18J>Its in lhor IT03,th) 1448.21Jl Cash cush ¢qUalniS al Ihe siart ollhe yeHr Cs114nd¢#sh èyulvolonl8 111 Ihfr endollh• year 1,999.750 1.263.267 1.2D&,747 817.054 Noto A.. re¢on¢lllfrllon ofn¢t In¢omeloxpendltUJ lonel¢osli ugedljy opfyr8llnp ttcllvllles N611n¢oM&/fexpendUr8)l0r11IOyeBr AdlustmBnts lor Dqpreclali AmDrt13allon olOLAuranl Nts)vempnt In 5nve$lmenl In1ni1nC0m& llncroas8ldecre kn Slo¢k Ilncroasoldecr888e kn debior3 ID4cio&stslllncr¢a36111 ¢red51or8 IDe¢iea8elllnueiseln ctediiors 3.3JO,fj39 43Q374 1646t12 186, f60) 772 18&f601 17ao?ti It5.4281 2,133 17.8781 99,397 124.502 1334.8461 3,121,29D 284.070 Note 8.. analys1¥ of ¢a¥h and cgsh Èqulvalents Shorf lerm depos115 Cgsh albank and In ba 10,414 1,288,333 1.29S,747 32,189 784,805 17,054 Nolo.. an•lyBIB of mtrvomont In nol dobt htlli& BIBrtollhe yoar 784.805 31189 Ca8h-flow8 Tr&llsl£r Fram Merger Allhe énd ol the year 1,28&333 tQ.414 Cash Cosh equlvolenls Traiisfer fram Merger Svb.Éolal 1681.2281 121.7751 t,1O2.696 1.182.69B 817.054 1703.IJ031 f.29&T47 L09Ds 1alll1 di10¥Ib]n oii&year Lo8DB falllno duoAfl•ron8 yeBr f237,6Jg1 22,952 1337,6391 (415{8711 iaf77.8231 Totsl 17,360,769) (917,6901 t,t02,696 17.09th7631 Tho nole¥ P80B8 19-301orm pariof the flnanclo161aieThanls. 18
YMCA LONDON CITY AND NORTH NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 I. PRINCIPAL ACCOUNTING POLICIES YMCA London Clly and North Is tharflable company Ilmlled by guarantee (undèr number 03169665, reg181ered olfico a8 Shown In Ihe Trustees. Annual Report). It Is registered as a provlder ol soGlal houslng wllh the Housino Regulator, HCA (number H404991. and as a charily wllh Ihe Charlty C¢)mml$8lDn In England and Wales (number 10538641. It18 a Publlc Benefit Enllty. A summary ol the prln¢lpal accounllnc polleles. whlch are spproprlate lo tha enlSly sla¢u8 881 out above, l0Slow5'. Ba815 of A¢¢ountlng - The Ilnandal sialdmÈThts have been prepared In 8c¢ordanc8 wilh the Flnandal Roportlng standaid applicab1& In th8 UK R8publlc ol Ireland IFRS 1021. the Hou8lna SORP 2014 Istalemenl ol Re¢ommtrnded Pr8clice for Teglslored soclal houslng provld8rsl. the r8qulrements ol the Houslng and Regen8ralltrn Act 2Q08 and the CompaThl&s Act 2006. ond th8 Accountlng DSrecllon for Prlv8t8 R8gl8tered Provldars of Soclgl Houslng 2015. In addllion. tho rtuslee$ have had reuafd le Accountlng and R6porting by Charities-. Slalement of Recommended Pracllee appll¢abl8 10 chaillle8 pr8poiing thelr gc¢ounls In accoidan¢e wllh lh8 Flnanclal R8POrting Slat)dard applicable In the UK and Rapubllc of Ireland IFRS 1Q21 lupdaled 20191- (Charities SORP IFRS 1021), wh8r& Itdoes nol confllcl with Ihe Houslng SORP. A55el$ and Ilab111118y are Inlllally recognlsed al hl8lorlcal Cost or Iran8aclion value unless olheTwl$e slated in the 1816V8nl accounllng pollcy nol61$l. Inve8tmonl assets arg re8tsled al fHlI valuo al each bal&ns& sheet dale. All financial in8lwments 8r8 consideiod to be ba8io finanelal In8tium6nt$. IrÈ the Dn)n of lh8 Truste$s, ther8 ar8 no areas ol malerlal esllmallon unctrtalnty In prepang Ihe a¢counl8 whlch would b8 Ilkely lo glve r188 to adluBlménls In subsequènt perlod8. Tho oI1n18 ar6 prepared In £.8 and rounded to Ihe neare6t pound. b. Golng Conoern - The CharilV8 bu81n8Ss act11198. Ils current flnancEal ptsslllon and faclots Ilkely lo affect Its lulure dpvelopmenl are 881 out wllhln Ihe Tiust888' Report Financlal Stotements have been prepared under the golng concern ba81s as roqulr8d by FRSfj02. Th8 truste&s he reviwd lorecasl rosulls and ca5hflows up to March 23 and arg 8allsfied Ihe$è support the gdng con¢8rn b88i8. The oharlty Is curr8lllly In ongoinp discugslons wlth HMRC around Ihe VAT treatment ol hostel Income. The Ireotmont. adopted pilor lo HRMCY In9pecllon. Is 8$ used by 8 number ol other YMCAS. The Tw81aes bellovg ba8éd on Indopendenl advlce that thls position 13 ¢arrecl. HMRG are argulng a dlff8ienl Ir8almenl whlch the ChalY dlspule$. and whl£h would negallvely affe¢l the charlty's futur8 results and c88hllows. However, th8 Tru$lÉés are sallsfiod the Impa¢1 of Ihlg could be mlllgat8d effeGllvety albeit they Gon81der this unllk8ly lo be nec9$82ry. This mBll8r w8nl to a First Tler Trlbunal H88rlng on 29 March 2021 and the outcome18 $11118W8lllng at Ihe Approval of Ihg Flnanclal Ststgmont, On Ihl8 ba818. th$ Truslee Yoard has a rea$onBble expectatqon that the Charfly ha8 ad8quale resourcej lo conllnue In opeiatlonol exi8len¢e for a perfod ol 81 least Iwa5v8 months after th8 date on whl¢h Ihe report and finandal 81alernts ale slgned. For Ihls Teason, It oonllnuo$ to odopl the qolno conGem basls In th8 financlal $lalemenl8. c. Income-All Incomalg Included on a réealvabl8 bBsSs. For donatlons and grants thls 1$ when th6 crlterla ol enlS118mènl and probab1151y hav8 bEen met and thB Ime due rAn be a8Mted wllh r8ason8ble ac¢uro¢y. Cap5tal Gyants lor houslng pYopertlg8 awunted for under the accruals modéls as Set In th& Houslng SORP. belng Inllialty accounted for ss a ¢r8dltor and then Hmorti8ed over the expected life of the r818ted 88881. The gmort188d amDunt lor the ye&r18 shown as part ol houslno Incomè Isee note 21. Ig
YMCA LONDON CITY AND NORTH NOTES TO THE FINANCIAL STATEMENTS Iconllnuedl FOR THE YEAR ENDED 31 MARCH 2021 d. Flxad A88ets gnd Doproclatlon- T8nglbk8 Ilxed as8ei$, #ept hou8lng prop?rtle$. oro Staled atC06t leBB Hccumulal8d deprtrcl&llon. Oepreclallon18 charged on 8 slralghl Ilne ba818 over tho expeded us81ul 8cenornlc Ilfv of each a8981 at th8 folkmlno nnual r818'. Eqthlpmgnl In¢ludlng IT equlprmnl flxlures and filllngy- 20% per8nnum g. Property Prop8riy ass8t8 are sleled Bl eo8118ss depr9811Dn vAlh the exceptlon ol tha LandAld Houw r6d8V81opment C05t4. DepreCIaOn 11 cemmence when lh8 naw hostel ¢ompl818d and brotsoht Inlo oparalion. No depreciatlon 1$ provtded on freehokl land. In ¢ampllanc8 wlth the cornponent accounlino requlrgm8nls Qflhe Hou8Sng SORP. those componen18 01 each ay601 wHh malerfally dlflerenl useful econ(¥nl¢ Ilve8 have been seporalely Iden11110d ar dopfeclatsd over the followlrvJ usef economlc Iiv88'. Fahold Hou$lno Propertl88 Elmflold Sha118red Suppotled Houslng (%) Useful Econotnlc Uf8 lyeanl Bulldln8 Maln Fabrlc Sub F4brlc Roof structure5 and Coverlngs Wlndows and external doors Gas bollerslflre5 Kltchen B3throom/WC5 Methanlcal sy5tem5 Iheatln& ventllatlon. plumblnBI Electrlc5 Total 100 33% yo 30 15 20 30 2% i(M)% 40 Freehold land Freehold Non Housing Propertle5 Bulkllng Impiovatngnts Le88ehold Hou&lng PtopertS¢8 Exlsllng $lruclure, roof & indow8 B01hrooms LBsehokl itnpr0vents 16 Years 8 Years Up to the expected lease break-polnt 20
YMCA LONDON CITY AND NORTH NOTES TO THE FINANCIAL STATEMENTS Icontlnu8dl FOR THE YEAR ENDED 31 MARCH 2021 PRINCIPAL ACCOUNTING POLICIES IGOntlnuedl f. 8oclal Houslng Grant8- Sodal Houslng Grants ISHGI are In511ally 80COUnted lor as a Ilablllly on Ihe balaneè sheet and amortised to Incoma over 8 poriod relatod lo Iho1116 01 th8 a88el¥ Yunded. g. Invg8tmont- Inve81menl$ ao Included In Ihg Balance Sh881 at falr value. Galn8 or losses on th8 Invesltnenl portldlo arè accounted for undor (he Statement ol Financlal Adlvily ISOFAI h. Exp6ndlture- Exp¢ndllure Is recogftS18d on an accrual$ bo$1s. Charltablo Aotlvllles in¢lud& both dlred and support cost. l. Fund9- Any restrltttad or design8led funds held by YYMCA London Clly and North at thè year end are separately shown as such In th6 prlmary flnancial statement8. l. Unreslrlcted funds are available for use al thè dls¢rellon of the Board in furtheranc8 of tha gengral objective5 of YMCA London City and North. The T¥uslees have sep8fatety deslgnaled those funds which are 116d up In Ihe fixed ass8ls of tha chafilablo Cornpany or Intsnding lor to be applled to f(xed assets In tho Immedlate liiture. 11. R88tricled funds are lurK15 where the donor has Smpo8•Y re5tr1clions a5 lo futré use. k. YMCA Pènslon PEan YMCA London Cily hnd Noth partldpated In a mulli-émployer pen81on plan for employees of YMCAS in England, Scoilartd and Wal08, whl¢h was closad to new members and aocruals on 30 Aprfl 2007. The plan's actuary has advlsed thal1118 not posslble lo Sgparalely Idenlily the assets and liab51111¢8 relallng lo YMCA London Clly and North. As d8scrib8d In note 13. YMCA London Clty and North ha5 a conlra¢lud obligatlon to mak8 P8nslon defi¢il payments Over the perfod lo April 202T, a¢corrtingly, Ihls Is shomm 88 a Ilabillly In the88 accounls. In addition. YMCA London CSly and North Is reqUId lo conlrlbute £21,802 pa.to the opBrallng expenses ol the Penslon Plan and these costs are charged 10 tha Slatement ol Comprehensfv8 Incoma as made. Employe8s fvlnlng after 30 Aprll 2007 are 811gible to loln 8 donned contrlbullon 8eh6rn0. YMCA London Clty and North's conlrlbutlons to Ihls schem¢ re accountéd lor as thg expendllure falls due and there Is no further Ilabllily to the scheme. l. Opèratlng Lèas8 Rèntals- Op8r811ng leas& reni81s are charged to the Incomè and expenditure a¢¢ount as InCrred. m. Donatlon$ of glfts, servlces and facllllle8- YMCA London Clty and North recognises d¢naled prolesslonal Bèrvlce$ and donHted lacilill¢s as Income when the charlly has control over the Itgm or recelved the sarvlee, any condltlons assocla18d wllh Ihe donation have been m81, th8 r6eelpt Df economic benefit From the u8e by the charlty of Ihg il¢m 18 probable and th91 e¢onoml¢ ben¢fll can be measurèd rallably. In ordanCe th lh8 char1tS SORP IFRS 1021, voluntoor Ilm8 1$ not rewn15ed. 21
YMCA LONDON CITY AND NORTH NOTES TO THE FINANCIAL STATEMENTS l¢ontlnuedl FOR THE YEAR ENDED 31 MARCH 2021 2. INCOME AND EXPENDITURE FROM HOUSING 2021 2020 Incomfr Irom hou81ng GLA Granl arnortlsBllon RenliecaSvable nel of Identmb10 Servke ¢h8rg8 SeNke £harg8s r81¥able 86,Y60 911,347 1.713,638 86,160 401.118 903.393 Gro&s 18nls recelvabl Rent lots from vddB Net I10m• from houJlDg actlvltl65 2,717, 145 179, G681 2,637.477 1,390,671 IY2,916) 1,377,755 Expendlturn on hou51ng acllvllloB M8nBgem8nl & SO98 Roullne malnleiianra 3,041,942 171.sgJ6 27,196 (ITO,2091 138,155 1.404,431 141,458 48,422 12,0116 148.630 Plsnn8d malnlènance Rent lossea ffom bad rtebis Dop1914¢n on houslng properly To11 axpendlturg& on houslng BCtlvltlo8 3,206,980 1,755.027 Operatlng d8fl¢llon houslng acllvlllBb (569,5031 13Y7,272) Numbor of unlt8 In m8Dag?mont at Ilifr end ortlio year 249 87 22
YMCALONDON CITY AND NORTH NOTES TO THÉ FINANCIAL STATEMENTS (Gontlnuedl FOR THE YÈAR ENDED 31 MARCH 2021 3. TRUSTEES AND EMPLOYEE INFORMATION Tru5te6 Informatlon No remun6ralSonw89 P91d io IheTNsiee& dwkng Ihg yearl2020- £nlll. TIuslqe8 are covered by Tru$lee Indernnlly Insurance. bul K18 nol P088ltye lo Idenlwy Ihe¢osl separatety. Theie wara no ro18 party liansacllon8. 2021 2&2 Employo•¢081 lorlhoyllar Stslarfes8DdY4age 1.744,688 146MD2 74è,819 ,240 5ocFal &ecurKy¢wii DglEngd bn6¢he•COV1s Iw noiè 121 Dend ¢oniiUxrtloncMI8 187,1e2 01.9e9 39.244 2,140,442 196.4131 2.044M29 ¢21,974 IB¥g Staff cMl8¢apIIb0d 812,OJ3 FTE number of staff recelvlng remuneratlon. excludlng penslen In oxcess of E60k 2020 £fjO.0-69,999 £90,(XX)-99,999 Awrago hoad ¢oynlw&B 10212020.. 2JoiJllland thè worago nuMkndrf full tlmè oqul¥41gnlBt&ffllncliidlng t•mporary&nd ptsrt Ilme •laffwAB ay followg: 2020 Hou51fi9 $knprXt Youih proJ8f Capll81 Fund 21 09 23 The lollowlng Inloimatlon Is glven In respecl ol11i0$8 8mployee5 defined 8s'direclois' by lh8 Accounllng Dlre¢llon for Prlvale Provideis ol SocSal Houslng. Thls group, qbng wlth Ihe Tru$le88 who are not remun8ial8d. are tho Koy Managemanl Petsonn81 for Ihe purposes of FRSI02. Non8 of the Dlreclors recelved any remuneigllon In Ihe cutrenl or prloryear. The aggrega18 emoSumenls of the Key Management Peisonn81 w8re £441,92& 7 FTE12020.. £368,339- 5 FTEI. The lemLlnBra1n of lh8 Chlef Execu15vtr comprls8d sHlory of £95,527 , Nl of £11,971 and PBnslon contflbullon5 01 £7,642. 12020 £93.762, £11,748 8nd 7,501 r8speclivelyl. The Chlef Ex8cLtllve Is An ordlnary membor of Ihe curronl slakeholder penySon schemewllh no spe¢lal l&im8 OT righ15 tr) enhancad benefits. 23
YMCA LONDON CITY AND NORfH NOTÈS YO THE FINANCIAL STATEMENT5 l¢onllnuodl FDR THE YEAR ENDED 31 MARCH 21121 4. NET INCOME I IEXPENDITUREI Th18 slwtèd anerchai91w". Audlior£' rgrnllgTlknnIèx¢lLk1uVAIj DfjproclBtlon OperqNng ba#èchArgeB-p1d e4ulpMenl 14.wl 17J.g91 21.3HS B. TAXATION YMCA London Clly and NDrfh Is B reglslerod ¢harlly a14ousSny Assoclallon regl8l&r¢d w5th the Houslng Reuul&lor Is, Ih61olor2. exempl from Ihl%llly to iaxHlionon Il& Incoma Bnd capital ualns from diarilablo 8¢llvlllèB. provided Income L4 appll8d for chaill8ble purp05èS. FIXED ASSETS- FREEHOLD PROPERTIES & LEASEHOLD IMPROVEMENTS Ti4N8f•rFrom HhLldOn YM¢A BoBknnlnU From End01Yr YMCA HilB Fr•ohold 19.630.610 9W,Q ?.82G,076 24,356.486 19.63D.810 N•1 book 24.311268 1,74Q571 {669.600J 17.9JO 1.76&W7 .740,57Y (699.6001 •pt4ckg110 N•tbook ¢mOtini 000.108 N¢n HDu*lnB 19&852 1gb,e62 1W.652 r167.402) 3t.25Q Nolboth NmouDt 31,210 {6.250J 2&000 24
YMCA LONDON CITY AND NORTH NOTE8 TO THE FINANCIAL STATEMENTS Icontlnuedl FOR T14E YEAR ENDED 31 MARCH 2021 7. OTHER FIXED ASSETS 819ning PMMerth London YMCA Fro Hoin••v YM¢A endor•r IAorGh 2D20 ¢omput4ro4ulpm•nt C1 19.328 a323 1&4861 2.837 05.81) IO&538 120.586J 64.052 19.3Z IOP,680 N4tbo¢ io.t43 t&rts6 SQ216 tO.143 Oym Equlpmgnl 3.034 13.fjJ4) 3,634 Nolbookamount IlolurVvhlEIpJ gtyj 59.358 159.3501 6&268 [65,25a) NitbDok Nnount Ollko Equlpfflont CD 8,309 18.389) ogpiédthn Nèibookamounl f6,J891 FumKyro lndlttllnqi IJZ140 {53,69fl TE,519 397.591 (359.JQ4J 47.093 3Q618 l?O,TOOJ 1&910 1353.640} 353.040 Jft.OJ3 (fSrf.343) 157.190 132.140 {53.62fl 7fj5tp [6?,350J Y6,668 Ttithlnglbooklmou 8a002 02,849 71120 24/142 8&662 tanll1bloASB 51,108 25.Of9 169,50T) 9,507 17.220 1,689 1717 4189 INVESTMENTS Jl 2021 crAFCharfll¥¥ InvoBlm•ntFund&Rl¢hbonÈs Q0Sl¥) oio B¢OI¢11htryQllr TMnbforFroniNorfhLondonYMCA TmnJfvrFTomFMlfjYylC Addthnj 124M4 12B,e20 2.070 Lltpoia 78.02f Effldofthèy4r 970,518 124.BID Un4UDiqd 1nvo8tmenl-lnp71 ltslha above Inveslmenl, Ihocbailtyheld shBres In a wo4yownèd dormanl 8ub8ldkny, Ythth ¢wrkdllIllI1l5t0IIIc0IOtE2. Th? D81 ¥sBlyollhegub8ldlarycpnVaie £2. 26
YMCA LONDON CITY AND NORTH
NOTES YO THE FINANCIAL STATEMENTS Icontlnuodl
FQR THE YEAR ENDED 31 MARCH 2021
5. DEBTORS
7021
2020
ATnottnii fAlllnu du•wlthlnomèy•ar'.
RentdpblOII
37,806
2Q.870
B5.B97
238,212
0Hrebt6 BndprepaymèTh18
60.036
97.922
10. CREDITORS
2021
2021
¢rgdltors dtr•wllhlM onèyD4r'.
Trade cli01
So&al$¢¢urflyand
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YMCA LONDON ¢rrY AF4D NORT NOTES TO THE FINANCIALSTATEMENTS Iconllnu¢dl FOR THÉ YEAR EWDED 31 WIRCH 2021 1. TOTAL FUNDS 8lJrtoly&Ar InGum botw¢gn Fund g811 End of yo•w O?.Apr.2Q $1-MAr41 Unrèitrlclod Fnde Dèèlgnplod FlxbdA••ol FuDd Pens Fund 4710,872 a781582 (A46fj843J {J647071 2,4t4303 861585 1338,Q091 74021 T,370.520 Tolnl UnM$1rf4d Inde 1366.165 3,73.0# I3,451j) 141Q393 52&fj7ts Ro8lrfcied Flind• Grant & Donallo DonBtIDn Errol Slv4l•t 202,d69 539.69> 69.5P8 (202,4691 fg2,0481 (Jo,(wi 1151857? Donttllong Drum Bulldlng oon411a LopAI F90• Tolil iÈ$tilcI Fundts 154857 997.623 (527.249) Tot•1 funds 3,355,ISS 4,7BI.205 13,937,217 2,415,503 11.6731 73.021 6,685.804 TOTAL FUNDS COMPARATIVE FOR 2020 Tr4n8f¢r bolDn Fund Invovlmonl Incorn• Expondlluro End olygaw 01.Apr-lY 31-M81-ZD UnioBltIcLod Fund6 Doslllnaied Flxod A60QtFUnd Pènslon 3,3tg,403 2,156,77f 11,9Y9.Q39) 2t7.429 38.905 (3.772} J.YIO.872 1355.707) T41 un&trIct•d Fund 2.924.Yg1 2.f5fj771 If,9Tg.039) 25fj.414 .T121 ),)5I165 Rèslilttod Fnds OrJnt& Uonallo Youlh Prol¢l$ Don&l14n9 Ovurn BNlldln 154,398 12T4,303) Jo.ooo 155.020 530.717 TotDI reatsktsd FundB 1274,3031 Tot41 fiinda 2,924,791 2.687,4e8 2,253,342 3,Y72 3.355,165 27
YMCA LONDON ¢ITY AND NOHYH NOTEsfoTHE FINANCIAL STATEMENTS l¢Vnlled} FOR THE YEARENDED31 MARCH 12. PEN8lOIt ¢eMTrA£T YMCA London and North In a conlrtbubry pension wOMn9(911n0d n81pEn5b1¥ lor YMCA#ln Eng1nd, Swlland ¥ntlWab9. of IhoYMCA P8nsloN PlanaFehW 99paryff those olYMCALondon Cilywr NoAhand4t Ihtsyoar.Bndlhtsèwer6lnvostsdlrt Iha Wnaml¢Da.rMkkw SobJiknn.40% w•i¢hlnE attd60%1n tlogrthrthporttolosnd Sthder 1w¢petiyunl OWI Thfj mDBtTe¢B<MpIÈL0IthlweTWJAU0Wa3a9 at1 Moy 2QZO. Tho asBumpllDns uledYJNGhh9 Lh6 mo41 $lUan1fjffe¢1On fvè v4uAlbn•rèthota ithllwlo 88¥umed raies al relur OD aaeets h befLvo•nd io1010[2.S8% and 1.QW respeGlhly. IhÈ IMpaÈ2ln p610¥ In pHymento12.WA Ilor RPI ¢app£d 015% p.a.i and Ihg 8veraggti1¢ weGt8rtty In)pn nMal reVrbment4001016SlfgryCUlf6ntmafa wJnsNwero122.2 ybar8, feTnaTe24.4 y8ar8, and 23,7yo¥r6 fcrA malèpSr, (ema 20.1 y¢aTB. 20 yfjafS'llm•. of Ihovaluouon IhBllhd 8duqMlYalUèofthbg8994¥ £14fj.1mvrth feprewlad 79% 01thoben9rrts Ihglhad 8ccru¢d lo memberA. Th8 Pensbn Han closed lfj nrnberAnd1Uro ¥ÈTvk4 awuelwith Bffgdftcm 30Apr12007. WTrhlhe 411th@Slary Intsge forbtyrnenig Bn 1Yea dd0Yr£d Ml$bac&M£ dp101 mBrnbOrt from I IAay2011. TheYalon prapor&d 05 at l May2020sho thBI IheYtKAP¥nElon 8•ddrld1 ol E30 thullon. YMCALonthTh Cltyand Norfh ha9 Lw advlsvd lliall1II Deed Matr¥n1rfbuVOs 01£7.1[M l Mgy2021. TNsamounl1s b#sj pnlho wvenl8cluaiLql a55ptiOns Iq¥ ouUh¢d abtri•l ond mayv4rykn luiwo ¥ ales0[aclUal p8rfOr pl Ih&ptrll8ion PIL The Ntraery pwiodl$8 yaw$wmmpnthw 1 M0y2021. Airq Afterrtm TOTAL èyegr TOTAL y¢gr yeHrs 312h4 6F4878 131.130 IJI rth1o21 74,42 7a913 286.323 t31 Ytsn61 lQOh7S 8B.512 ,J16 355.707 addln,Y4cALOnd0n CRY moy rI4 lknb11111eJknlh9 of Iiientyi-psythÈnlbyolher wrficlpallng YMCAS tharoèl CA P?nsi¢n Wan'sdEficll. Ilknnd rtuffenUykn4uanllfytho tnI1?1nl thal¥VCA London Cllyand Norfh rnJy b& called UP010paY 13. OPERATINQ LEASE C<XIMWMENT8 As•131 2021 YMCA Lffldon Clyand NdthhqdrDmmkntyntgundernon-cart¢glbkn opwthg hases old0115b1 othqi Other Mavrh 2024 MAYclI2020 Wthin ona YoHr WIINn Iwolo fvoyeoT8 80,lQ4 14. HQVSINO ORANTJ QLh gi19E0dUnlhB bAlnhelIr$b1o to,. In 19rn1£l,l2O,12? recohd i20150f4NdlRSI?.0O9hAl1oKn Èm0d iodThfo, TbhtsLgt8è1o hknth¢ourthosW. otbknal wt01£8,7o roctlved In 20181or ihèrebulbj ol&fol 8tiaat Hothl. rwnam•d th•LndAhJ Hou rode¥gh)wenl. noneof whhhasbe•n amor%ssLlio 18. PF¢vl1Y£2,I89,192& r•cd lothe SlrtO1 HDgkllNg l&nTriincJudgdlTrthb8dancoSh8Bt a•the wopFTlywoJ mvalued at 1 Apr12014 Th068 arn¢unLampthU8lWrepaVab Ilth&slle&cpAwd to b•uWOftsrlheprollQn ofsc¢Wh0vw. No tynvl.
YMCA LONDON CITY AND NORTH NofES TO THE FINANCIAL STATÉMENTS Icontlnugdl FOR THE YEAR ENDED 31 MARCH 2021 16. CAPITAL CQMMITMENTS Al th? bai8nc8 sheel dale YMCA London Clly and North hdd conlraclual CmIlman¢S for lulure capllal expendSlura Ihe conslw¢lion of LandAld House of £232,24312020.. £1,66ts.0851. 16. CONTINGENT LIABILITIES Th8 charlly has recelved an asse$&m&nl from HMRC respect of g VAT Ilabilily for hostel artominodallen supp118d by YMCA London Clly and Norfh in the sum of £263k. The Truslee Boaid 8lrong1y dlspules Ihe basls of th8 a88e5ymenl, hellevlngll lo be IncorreGI and on tho balance of pid)abilily, Do Ilab1111y VAII arfs8. In arrlvSng 01, and supportlng IheSr 8S88ssmonl of Ilab11lly Ènd Ilkellhood ofpaymenl. Ihe Tru8le88 hav8 laken adv4c8 from L8gal Counts81, and a flrm ol prof8sslonal lax advisers both ofwhom hav6 re19vant expgrtls8 In th15 6P8clllc arga. In relall(n lo Iheli VAT appeHI. The appoal18 to be h8ard In March 2021. 17. POST BALANCE SHEET EVENTS No Poyl Balanc8sheg1 Events 18. Relgtod Partle$ DurlnE IheyEar31 March 2021 Iheie were no rdated partlestransacllon 19, G5ft at Falrvaltse The folloWng A55ets & LlabSlltles wero Iiansfeif£d lo YMQA London Clly and North by Hornsey YMCA & Hornsey (North London) YMCA Hou51ng Soclety Ilmlted on 9 Oclober 2020 HDrnsev YMCA Novnsey INo¥th Londonl YMCA H¢uslnB Total 5oclety IlmSted Fre¢hold HouslTh Properiles 867.237 867.237 other Flxtd Assets 1nveslmf.nts swck Dobrors Cash al Bankand In Hand 20,394 382,OTQ 63.432 83,826 987.334 769,404 3,870 4870 921,3t2 3TI,435 l.ItO,369 1.162,697 1219,6031 158ri.84?1 12J2,3241 2.473,951 2,415,303 50,123 r2,928 1301,2391 1282,J241 (58,6481 Total Glft • FalrV8lue 29
YMCA LONDON CITY AND NORTH NOTES TO THE FINANCIAL STATEMENTS Icontlnu9dl FOR THE YEAR ENDED 31 MARCH 2021 20 STATEMENT OF FINANCIAL ACTIVITIES 2020 SHOWING SPLIT BETWEEN FUNDS INCOME FROM.. UnYoStrlcted Re81rlct&d Tolal Funds Donotlons Donailons Oonatlons- Drurn bulldlng Donatlons- pro bono le831 fees 25.388 154.396 30.000 155,020 339,416 179,784 30,000 155.020 364,804 26,3B8 Charltgblo Acllvltles & Olherlncome Houslng Income Youlh Prol8cly Incorne Olher Income Llquldated 08mBg88 ConslruclSon Incom8 1,377,765 1,377,755 191.301 7.450.QO 738,300 2,314,B06 7.878 2,68Y,4B8 191,301 7,450 730,300 2,123.605 7.678 2,1S6,771 191,301 Inv051mentlfftJcome Yotal Ineome 630,71T EXPÉPéDITURE ON.. Fundralslng Costs of ra151ng lunds Hou¥lng Fxp8ndllui8 Youlh Prol8c18 Legal Fe86 Pro bono Expendlturo on charl¢&ble actlvllles 88.991 68,991 1,755,027 68.991 68,991 1.755,027 274,303 155.020 2,184,350 274,303 165,020 1,910.047 274,J03 Totol expondllure 1,979,038 274,303 2,253.341 Nol Incorne for tho year belore Ios8e¥ and galn5 on IIiv081ments 256,414 434,147 177,733 Not galns on Inve$lm8nt8 Net lexpendllurelllncome for lh8 y8ar (3.7T2) 13,7721 173,961 256.414.00 256,414 (256,414) 430,375 Transfeis belw88n funds other recoonlB8d galns ond 105888 Net movement lundB R¢conclllallon of fund5.' Total lund% broughtforward Total fu•d& carrled forward 11 430.575 430,375 2.924,790 3,J55,f65 2,924.790 3.356,166 30