Inter-Cultural Youth Exchange (ICYE-UK) Ltd
(A Company Limited by Guarantee)
Company No. 04012492 Charity No. 1081907
Report and financial statements
For the year ended
30 June 2025
Inter-Cultural Youth Exchange (ICYE-UK) Ltd
Report and financial statements
For the year ended 30 June 2025
| Contents | Page |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ annual report | 2 - 4 |
| Independent examiners' report | 5 |
| Statement of financial activities | 6 |
| (incorporating an income and expenditure account) | |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 13 |
Inter-Cultural Youth Exchange (ICYE-UK) Ltd
Reference and administrative information
For the year ended 30 June 2025
| Trustees: Company number: Charity number: Registered office: Independent examiner: Bankers |
Keith Donnelly (Chair) Jagdeep Singh Bhambra (appointed 1stSeptember 2024) Andrew John Derry (appointed 1stSeptember 2024) Oliver Flor Franziska Glas (resigned 8 July 2024) Giovanni Mastroianni (resigned 8 July 2024) Ines Newman Nicola Jane Parker (appointed 1stSeptember 2024) Fabio Puntillo (appointed 1stSeptember 2024) Emilie Fiirgaard Rasmussen (appointed 9thSeptember 2024) Allan Russell Taylor (resigned 15thNovember 2025) 04012492 1081907 Latin American House, Kingsgate Place London NW6 4TA Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG www.goldwins.co.uk HSBC 50-52 Kilburn High Road London NW6 4HJ |
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Inter-Cultural Youth Exchange (ICYE-UK) Ltd
Trustees’ annual report
For the year ended 30 June 2025
The trustees, who are also directors under company law, present their report and financial statements for the year ended 30 June 2025.
The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
The charity has a vision of a world where the sharing of cultures and ideas is embraced, celebrated and lived. The charity works in partnership with an international network of locally managed ICYE organisations and partners to provide supported international volunteer opportunities which benefit the participants and the local communities; encourage young people from around the world to live, learn and work together; and engage members in the on-going development of the organisation.
The Trustees confirm that they have complied with the duty to have due regard to the Charity Commission’s general guidance on public benefit. The Trustees have also paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
2024-25 saw the re-start of the sending programme with 4 participants taking part in the programme in 3 different countries. There was also significant work introducing the programme to schools, universities and youth groups, as well as redeveloping our website and working on digital outreach to increase the promotion of the programme.
The majority of the activities in 2024-25 were related to the hosting programme and we hosted 34 people in the UK from 9 different countries. This was a significant decrease in number of participants although with an increase in the number of countries on the previous year (2023-24, 48 people from 8 countries). The decrease was a reflection of a decrease in volunteer numbers across the Federation with global political uncertainties and cost-of living increases in many countries impacting on participation of the programmes. The indication for 2025-26 is an increase in numbers, which while below the numbers of the previous year, is a basis for a return to growing the programme.
Financial Review:
Income for the year was a slight decrease to £125,883 (£129,558 in 2023-24). There was also an increase in expenditure which related to the restart of the sending programme. There were minimal fundraising activities with donation income of £1,471 (£379 in 2023-24). The overall result is a deficit for the year of £6,848 (202324 Surplus £673). It was expected that restarting the sending programme would take investment of resources and the result was therefore not unexpected.
It is the policy of the organisation that funds which have not been designated for a specific use should be maintained at a level equivalent to at least twelve months fixed administration costs. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Current reserves are at the required level.
The Trustees have assessed the major risks to which the organisation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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Inter-Cultural Youth Exchange (ICYE-UK) Ltd
Trustees’ annual report
For the year ended 30 June 2025
Structure, governance and management
The organisation is a company limited by guarantee (No. 04012492) and is a registered charity (No.1081907). None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up of the company.
The Trustees are appointed at the AGM as a result of having previously been on an exchange programme or for their particular knowledge or skills. There is also the option to co-opt trustees onto the board between AGMs on the same basis.
The company is a member of International Cultural Youth Exchange Federation which is based in Germany and follows their policies and procedures. The company pays fees to that organisation based on the number of exchanges in each year.
Statement of responsibilities of the trustees
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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● Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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Inter-Cultural Youth Exchange (ICYE-UK) Ltd
Trustees’ annual report
For the year ended 30 June 2025
Statement as to disclosure to our independent examiners
In so far as the trustees are aware:
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There is no relevant information of which the charitable company’s independent examiners are unaware; and
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The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiners are aware of that information.
The trustees’ annual report has been approved by the trustees on ……….………. 9th March 2026
and signed on their behalf by;
…………………………………….
K DONNELLY (Chair) Trustee
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Independent examiners’ report
To the trustees of Inter-Cultural Youth Exchange (ICYE-UK) Ltd
For the year ended 30 June 2025
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A thn ory E pton
Anthony Epton BA FCA CTA FCIE
Goldwins Limited Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
26 March 2026
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Statement of financial activities
(incorporating an income and expenditure account)
For the year ended 30 June 2025
| Note Income from: Donations 3 Charitable activities 4 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income / (expenditure) for the year 7 Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted £ 1,471 124,391 21 125,883 132,731 132,731 (6,848) - (6,848) 82,946 76,098 |
Restricted £ - - - - - - - - - |
2025 Total £ 1,471 124,391 21 125,883 132,731 132,731 (6,848) - (6,848) 82,946 76,098 |
2024 Total £ 379 129,158 21 |
|---|---|---|---|---|
| 129,558 | ||||
| 128,885 | ||||
| 128,885 | ||||
| 673 - |
||||
| 673 82,273 |
||||
| 82,946 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Balance sheet
As at 30 June 2025
| 2025 | 2025 | 2024 | 2024 | ||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Current assets: | |||||
| Debtors | 10 | 84,441 | 87,457 | ||
| Cash at bank and in hand | 5,655 | 19,406 | |||
| 90,096 | 106,863 | ||||
| Liabilities: | |||||
| Creditors: amounts falling due within one year | 11 | 13,998 | 23,917 | ||
| Net current assets | 76,098 | 82,946 | |||
| Funds | 13 | ||||
| Restricted funds | - | - | |||
| Unrestricted funds: | |||||
| General funds | 76,098 | 82,946 | |||
| Total unrestricted funds | 76,098 | 82,946 | |||
| Total funds | 76,098 | 82,946 |
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.
Approved by the trustees on date 9th March 2026 and signed on their behalf by:
K Donnelly A Derry Trustee Trustee
Company registration no. 04012492
The attached notes form part of the financial statements.
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Notes to the financial statements For the year ended 30 June 2025
1 Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with 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 2019) - (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
b) Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
e) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
f) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs.
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● Other expenditure represents those items not falling into any other heading.
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Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
g) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Notes to the financial statements For the year ended 30 June 2025
1 Accounting policies (continued)
h) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Fixtures and fittings 20% Computer equipment 33%
i) Debtors
- Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
j) Cash at bank and in hand
- Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
k) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
l) Financial instruments
- The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Notes to the financial statements
For the year ended 30 June 2025
| 2 Detailed comparatives for the statement of financial activities Income from: Donations and legacies Charitable activities Investments Total income Expenditure on: Charitable activities Total expenditure Net income / expenditure Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward 3 Income from donations £ Donations 1,471 1,471 4 Income from charitable activities Unrestricted £ Participation funding 124,391 Total income from charitable activities 124,391 5 Income from investments Unrestricted £ Bank interest 21 21 Unrestricted |
2024 £ 379 129,158 21 129,558 128,885 128,885 673 - 673 82,273 82,946 £ - - £ - - £ - - Restricted Restricted Unrestricted Restricted |
2024 £ - - - - - - - - - - 2025 Total £ 1,471 1,471 2025 Total £ 124,391 124,391 2025 Total £ 21 21 Restricted |
2024 Total £ 379 129,158 21 |
|---|---|---|---|
| 129,558 | |||
| 128,885 | |||
| 128,885 | |||
| 673 - |
|||
| 673 82,273 |
|||
| 82,946 | |||
| 2024 Total £ 379 |
|||
| 379 | |||
| 2024 Total £ 129,158 |
|||
| 129,158 | |||
| 2024 Total £ 21 |
|||
| 21 |
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD
Notes to the financial statements
For the year ended 30 June 2025
6 Analysis of expenditure
| Basis of allocation Staff costs Direct Outgoing exchangee costs Direct incoming exchangee costs Direct Staff Travel and training costs Direct Printing postage and stationery Direct Telephone Direct Advertising Direct International ICYE fees Direct Rent Direct Sundry expenses Direct Insurance Direct Bank charges Direct Independent examiner’s fees Direct Support costs Governance costs Total expenditure |
Charitable activities £ 71,079 11,822 27,980 - - - - - - - - - - 110,881 20,200 1,650 132,731 |
Support costs |
Governance costs |
2025 Total | 2024 Total |
|---|---|---|---|---|---|
| £ - - - 774 92 266 258 8,594 7,340 1,653 1,076 147 - 20,200 (20,200) - - |
£ - - - - - - - - - - - - 1,650 1,650 - (1,650) - |
£ 71,079 11,822 27,980 774 92 266 258 8,594 7,340 1,653 1,076 147 1,650 132,731 - - 132,731 |
£ 67,500 - 38,577 811 500 223 204 8,602 6,875 2,788 1,019 136 1,650 |
||
| 128,885 - - |
|||||
| 128,885 |
Of the total expenditure, £132,731 was unrestricted (2024: £128,885) and £0 was restricted (2024: £0).
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Notes to the financial statements For the year ended 30 June 2025
7 Net income / (expenditure) for the year
| This is stated after charging / (crediting): | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Independent examiner's fees | 1,650 | 1,650 |
8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
| Staff costs were as follows: Salaries and wages Social security costs Employer’s contribution to defined contribution pension schemes |
2025 £ 68,918 656 1,505 |
2024 £ 65,515 534 1,451 |
|---|---|---|
| 71,079 | 67,500 |
The were no employees who received employee benefits (excluding employer pension) of £60,000 or more (2024: Nil).
The total employee benefits including pension contributions of the key management personnel were £30,000 (2024: £30,033).
The charity trustees were not paid or received any other benefits in the year (2024: £nil). They were reimbursed £304 travel expenses during the year (2024: £503). No charity trustees received payment for professional or other services supplied to the charity (2024: £120).
Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
| follows: | ||
|---|---|---|
| Charitable activities Support |
2025 No. 2 1 |
2024 No. 2 1 |
| 3 | 3 |
9 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
10 Debtors
| Debtors | ||
|---|---|---|
| Other debtors Prepayments |
2025 £ 84,441 - |
2024 £ 87,457 - |
| 84,441 | 87,457 |
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INTER-CULTURAL YOUTH EXCHANGE (ICYE-UK) LTD Notes to the financial statements For the year ended 30 June 2025
11 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Other creditors Taxation and social security Accruals |
2025 £ 3,453 908 9,637 |
2024 £ 4,437 749 18,731 |
| 13,998 | 23,917 |
12 Pension scheme
The pension scheme is provided through Nest Pensions (Government approved scheme).
13 Analysis of net assets between funds 2025
| Net current assets Net assets at the end of the year Analysis of net assets between funds 2024 Net current assets Net assets at the end of the year |
General unrestricted £ 76,098 |
Restricted £ - |
Total funds £ 76,098 |
|---|---|---|---|
| 76,098 | - | 76,098 | |
| General unrestricted £ 82,946 |
Restricted £ - |
Total funds £ 82,946 |
|
| 82,946 | - | 82,946 |
14 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.
15 Related party transactions
The company is linked to and follows the policies of the International Cultural Youth Exchange which is based in Germany. The company pays fees to that organisation based on the number of exchanges in each year. The fees for the year were £8,594 (2024: £8,602). Other debtors include £60,757, due from that organisation (2024: £56,922)
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