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2021-03-31-accounts

Charity Registration No. 1089763 Company Registration No. 04299623 (England and Wales) Homes and Communities Agency Registered Social Provider No. 4847

HENLEY YMCA

DIRECTORS’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

HENLEY YMCA

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR TO 31 MARCH 2021

President G.X. Constantinidi
Trustees/Directors R. Duckett (Chair)
N.K. Topsom MBE
Dr T.P. Dudeney
M. Sayers
C. Richards
R.L. Perkins (Treasurer)
R.Appleyard
K. Hinton
F. J. Brookes
J. Streatfeild
R. Magnay (joined 16 September 2020)
Chief Executive L.Grant
Charity number 1089763
Company number 4299623
Registered provider number 4847
Principal address 2 Lawson Road,
Henley-on-Thames
Oxfordshire
RG9 2AN
Registered office 2 Lawson Road,
Henley-on-Thames
Oxfordshire
RG9 2AN
Independent Examiner Edwin Smith Chartered Accountants
32 Queens Road
Reading
Berkshire
RG1 4AU
Bankers HSBC Bank Plc
6 Market Place
Henley on Thames
Oxfordshire
RG9 2AN
Aldermore Bank PLC
4th Floor, Apex Plaza,
Forbury Rd,
Reading
RG1 1AX
Nationwide Building Society
Kings Park Road
Moulton Park
Northampton
NW3 6NW
National Westminister Bank Plc
18 Market Place
Henley on Thames
Oxfordshire
RG9 2AP

2

Governing document – New Memorandum and Articles of Association adopted on 27 January 2016

OBJECTS AND POWERS

2. Objects

2.1 The Objects of the Association arise from its acceptance of its founding Christian principle, the Paris Basis of 1855 incorporated into the National Statement of the Aims and Purposes of the YMCA in England as it may be amended from time to time.

2.1.1 Consequently the Association is part of the Worldwide YMCA, a Christian Movement which seeks to unite those who, regarding Jesus Christ as their God and Saviour according to the Holy Scriptures, desire to be His disciples in their faith and in their life, and to associate their efforts for the extension of His Kingdom. Any difference of opinion on any other matter shall not interfere with the harmonious relations of the YMCA Movement.

2.2 The Association welcomes, serves and works with persons of all religious faiths and of none.

2.3 Accordingly the Objects of the Association are:

2.3.1 To advance the Christian faith, including by:

(a) promoting a Christian environment inspired and motivated by the life, example and teaching of Jesus Christ, where people of faith and people of none can work together for the transformation of communities; and

(b) enabling people of all ages and in particular young people, to flourish through experiencing and responding to the love of God demonstrated by the life, example and teaching of Jesus Christ;

2.3.2 To provide or assist in the provision in the interests of social welfare of facilities for recreation and other leisure time occupation for men and women with the object of improving their conditions of life; 2.3.3 To provide or assist in the provision of education for people of all ages and in particular young people, with the object of developing their physical, mental or spiritual capacities;

2.3.4 To relieve or assist in the relief of people of all ages and in particular young people, who are in conditions of need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances; and 2.3.5 To provide residential accommodation, including Social Housing, for people of all ages and in particular young people, who are in need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances.

3

HENLEY YMCA

CONTENTS
Page
Trustees’ and Directors’ report 5 - 8
(Including Statement of Directors’ Responsibilities)
Independent Examiner’s report 9
Comprehensive statement of income 10
Statement of financial position 11
Cash flow statement 12
Notes to the accounts 13 - 26

4

HENLEY YMCA

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Directors present their report and the financial statements for the year to 31 March 2021 and confirm that they comply with the requirements of the Companies Act 2006, the Charities Act 2011, the Housing and Regeneration 2008 Act and the the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers. The financial statements also comply with the Accounting Direction for Private Registered Providers of Social Housing 2019

Structure, Governance and Management

Henley YMCA is a Registered Charity and a Charitable Company Limited by Guarantee incorporated on 5 October 2001. The Company was established under a Memorandum of Association, which established the objects and powers of the charitable company. It took over the unincorporated charity known as Henley YMCA, which was founded in 1857. New Articles of Association were adopted by Henley YMCA on 27 January 2016 based on a new national YMCA model approved by the Charity Commission

The Directors of the Company are also Charity Trustees for the purpose of charity law and are known as the Board of Trustees. Every Director shall be appointed by the Directors at the Annual General Meeting, for an initial term of up to 3 years and subject to combined periods of office limits defined in the Articles. The names of the Directors are referred to at the front of the report

The Directors delegate the day-to-day running of the Charity to the General & Finance Manager (Lisa Grant).

The General & Finance Manager, other staff and volunteers works within Henley YMCA policies and a business plan which is reviewed and updated by the board annually.

The full board meets regularly at least four times a year. In additional, the board has three sub committees.. These committees cover: 1. Finance including, Risk Management; 2. Housing; 3. Personnel. The Board and subcommittees are supported by a Governance Secretary (Robert Higginbottom from April 2018). The board had a wide range of experience and expertise covering finance, accounting, marketing, property management, health care, social housing fundraising and local government.

Risk Management

The Directors keep the risks that the charity faces under active review. This includes producing a risk analysis and register which forms part of the business plan. All risks are formally reviewed annually at sub-committee and full board level. Policies, procedures and controls are in place to manage and mitigate against the exposure to risks and to ensure that Henley YMCA operates safely, sustainably and effectively for its staff, volunteers, tenants, service-users and visitors. These procedures are based on regulatory requirements and good-practice standards.

Related Partners.

Henley YMCA is affiliated to the National Council of YMCA’s known as YMCA England & Wales with whom it has entered into a Membership Agreement with requiring adherence to certain expectations and standards.

Objects and Activities

The Directors confirm that they have given due regard to the guidance issued by the Charity Commission on public benefit.

Henley YMCA aims to serve the whole community and young people in particular, no matter what their race, sex, disability, sexuality or religion. It aims to provide a caring and welcoming environment which encourages personal growth and development in body, mind and spirit. Consistent with these aims, Henley YMCA’s key objects include:

5

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Achievements and Performance

The following headlines give highlights for 2020-21 across Henley YMCA’s mission activities:

Housing

Henley YMCA has continued to provide access to affordable housing for local young people between the ages 16-29. The accommodation comprises 21 studios and 10 flats. All the units are self-contained and designed to facilitate independent living within a community atmosphere.

During 2020-21, Henley YMCA provided accommodation for 49 young people. Of those 49, 25 of Henley YMCA’s 31 supported accommodation units were occupied by longer term tenants (over 1 year and up to 5 years) and 17 provided homes for new young tenants. All tenants enjoyed the relative stability provided by Assured Short hold Tenancies.

During 2020-21 Henley YMCA introduced an onsite Counselling Service for those tenants who required extra support with their mental health. In addition, Henley YMCA worked with both Turning Point and the Mental Health Academy to provide additional support services.

The kitchen refurbishment programme for the Housing Units was completed during this financial year.

Henley YMCA as a private Registered Provider of Social Housing works continuously to meet the standards set by The Regulator of Social Housing, including the Value for Money and the Governance and Financial Viability Standard.

The Directors are confident that they are meeting the standards of The Regulator of Social Housing and are committed to a process of continuous improvement and have adopted the ACEVO Good Governance Code.

The Directors have also set a time table to meet the standards of the NCVO Trusted Charity Quality Assurance measure by 31[st] December 2023.

Tenant satisfaction surveys completed by Henley YMCA tenants have given high overall ratings.

These results will be included in a separate Tenants Annual Report.

The Tenants Annual Report is a big part of the commitment to tenant involvement and is circulated to tenants and discussed at Tenants Meetings held on a regular basis.

Active living activities

As a result of the COVID 19 pandemic activities that normally take place in both the Y Centre and the football facilities were severely curtailed.

The ongoing pandemic has continued to have an effect on the first Quarter of 2021-22. .

Future plans

A business plan reviewed by the Directors in June 2020 was hampered in its implementation due to the Covid 19 Pandemic as such this plan will be carried over and developed for the financial year 2021-22:

General

  1. Henley YMCA will continue to develop their links and engagement with YMCA England and Wales. In addition, staff will continue to build up relationships with other YMCA’s in the federation, in-order to benefit from examples of best practice and support from bigger local YMCAs.

  2. Henley YMCA will investigate the options available to develop a marketing strategy to promote the range of facilities available.

  3. Henley YMCA will consider undertaking a feasibility study to determine if any further housing development is possible, especially on land at Lawson Road Henley - Upon - Thames

6

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Residential Centre Fund Activities

  1. To update and develop where needed the 30-year asset management/maintenance plan having taken on Registered Provider responsibilities from YMCA England in February 2018. The plan includes ongoing day-to-day, routine maintenance and statutory inspections etc.

  2. Henley YMCA will continue to develop, with signposting-partners, opportunities on and off site, for residents to engage with developmental activities in addition to receiving day-to-day support/guidance information. Staff will continue to review of all other relevant providers/partners areas, as the provision of additional services available changes continually. In addition, Henley YMCA will continue to take full advantage of the services and opportunities that become available.

  3. Working with NOMAD, Henley YMCA will continue to develop and implement the provision of general and substance abuse counselling services.

  4. Henley YMCA will continue to develop a variety of different enrichment activities, such as Art Classes, Cooking sessions and working with local churches to develop a chaplaincy support programme.

Y Centre and field Activities

  1. The Y Centre will continue to be maintained to a good standard providing an attractive, fit-for-purpose venue for sport, health, fitness and recreational activity programmes; these programmes will continue to be led, funded and managed by external organisations and providers. Such providers will be continue to be viewed as a part of the fulfillment of Henley YMCA’s mission as well as being income contributors to the Y Centre activities of the Charity.

  2. A long-term costed asset management maintenance plan has been compiled and will be implemented to maintain good quality, fit-for-purpose community facilities.

  3. Following on from the trustees decision a 3 year agreement has been signed with AFC Henley to maintain and run the Henley YMCA grass pitch usage. This relationship will be reviewed at the start of the new football season.

  4. Henley YMCA will look into upgrading the Astro Turf fencing as numerous acts of vandalism during the COVID 19 pandemic have highlight the need for this to be revised.

Investment Policy

Under the Memorandum and Articles of Association, the charity has power to make any investment which the Directors think fit. The Directors have reviewed its investment policy and strategy and considers that the use of specialised trusts designed for the charity sector continues to meet its requirements.

Reserves

Notes 18 and 19 to the Financial Statements show the breakdown of the various funds. The reserve policy has been set to ensure sufficient funds are held in reserve to maintain the continued operation of the charity in respect of its charitable activities (including management, administration and other support costs) should unforeseen circumstances reduce the charity’s income or increase expenditure.

The trustees believe that the level of liquid reserves should be the equivalent of 6 months operating costs. The level of reserves will be monitored on a quarterly/annual basis.

As a result of Henley YMCA’s purchase of the residential lease, Henley YMCA will build up additional reserves in the Residential, Replacement and Maintenance Fund in order to cover major refurbishment programmes, (kitchen and bathroom refurbishment, roof repairs) that pre-sale were the responsibility of YMCA England.

The Restricted Development Fund is governed by a Trust Deed dated 26 April 1926 as amended by a Scheme of Arrangement and can be used for sporting activities and the furtherance of sport, including the maintenance and upkeep of the Football Pitch and any buildings associated with sport, including running costs.

7

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Financial Report

The accounting systems and regulations have proved satisfactory and are a means of managing and controlling the level of activity.

There was an operating surplus in 2020-21 of £98,273 of which £32,932 was from donations, as detailed on Comprehensive statement of income (page 10).

Preparation and Examination of Accounts

Edwin Smith Chartered Accountants were reappointed to prepare Henley YMCA’s accounts for 2020-21 and to obtain an Independent Examiners Report to conform to Companies House requirements and the Housing and Regeneration 2008 Act requirements.

Statement of Directors’ Responsibilities

The Companies Act 2006 and registered social housing legislation require the directors (who are also the trustees for the Charity Law) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its income and expenditure, for the financial year. In preparing those financial statements, the directors are required to:

The Directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2019. The Directors 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 directors are also responsible for the contents of the Directors’ report, and the responsibility of the independent examiner in relation to the directors’ report is limited to examining the report and that ensuring on the face of the report there are no inconsistencies with the figures disclosed in the financial statements.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the Directors on 15 September 2021

Signed on their behalf by Director - R.L. Perkins (Treasurer)

8

HENLEY YMCA

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 MARCH 2021

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021, which are set out on pages 10 to 26.

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’) and the Housing and Regeneration 2008 Act (‘the 2008 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act or under section 136 of the 2008 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 report

In accordance with section136 of the 2008 Act I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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:

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.

On behalf of: EDWIN SMITH CHARTERED ACCOUNTANTS 32 Queens Road Reading RG1 4AU Signed:………………………….. Date: 29 September 2021 Philip J Nixon

9

HENLEY YMCA

COMPREHENSIVE STATEMENT OF INCOME (including Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2021

Notes
Turnover
4
Operating Costs
Other Income
4
Operating profit
Interest Receivable
4
Interest on Housing loan
Gain on fair value of investments
Total Comprehensive Income /
(Expenditure) for the year		 2021
£
259,069
(216,567)
9,529
52,031
374
(2,050)
47,918
98,273		 2020
£
277,056
(219,778)
9,466
66,744
669
(1,313)
(12,941)
53,159

Statement of Income and Retained Earnings

Notes
Income &
Expenditure
Restricted
Reserve
£
£
Balance as at 1 April 2019
84,340
1,256,551
Total comprehensive Income /
(Expenditure) for the year ended
2020
(7,230)
60,389
Transfers to restricted reserves
12,684
(12,684)
Balance as at 31 March 2020
89,794
1,304,256
Total comprehensive Income /
(Expenditure) for the year ended
2021
1,392
96,881
Transfers to restricted reserves
(45,568)
45,568
Balance as at 31 March 2021
45,618
1,446,705		 Notes
Income &
Expenditure
Restricted
Reserve
£
£
Balance as at 1 April 2019
84,340
1,256,551
Total comprehensive Income /
(Expenditure) for the year ended
2020
(7,230)
60,389
Transfers to restricted reserves
12,684
(12,684)
Balance as at 31 March 2020
89,794
1,304,256
Total comprehensive Income /
(Expenditure) for the year ended
2021
1,392
96,881
Transfers to restricted reserves
(45,568)
45,568
Balance as at 31 March 2021
45,618
1,446,705		 Total
£
1,340,891
53,159
-
1,394,050
98,273
-
1,492,323
45,618
1,446,705

10

HENLEY YMCA

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
6
Housing Properties
7
Investments
8
Current assets
Debtors
10
Cash at bank and in hand
9
Creditors: Amounts falling due within
one year
11
Net current assets/(liabilities)
Total net assets or liabilities
Creditors:amounts falling due after
more than one year
12
Total Net Assets
Reserves
Income and expenditure account
19
Restricted reserves
18
Total reserves		 2021
£
£
394,092
613,678
319,910
1,327,680
14,295
357,797
372,092
(53,028)
319,064
1,646,744
(154,421)
1,492,323
45,618
1,446,705
1,492,323		 2021
£
£
394,092
613,678
319,910
1,327,680
14,295
357,797
372,092
(53,028)
319,064
1,646,744
(154,421)
1,492,323
45,618
1,446,705
1,492,323		 2020
£
£
397,307
630,202
267,734
1,295,243
13,082
310,265
323,347
(41,486)
281,861
1,577,104
(183,054)
1,394,050
89,794
1,304,256
,
1,394,050		 2020
£
£
397,307
630,202
267,734
1,295,243
13,082
310,265
323,347
(41,486)
281,861
1,577,104
(183,054)
1,394,050
89,794
1,304,256
,
1,394,050
1,327,680
319,064		 1,295,243
281,861
372,092
(53,028)		 323,347
(41,486)
1,646,744
(154,421)		 1,577,104
(183,054)
1,492,323 1,394,050
45,618
1,446,705		 89,794
1,304,256
,
1,492,323 1,394,050

For the year ending 31 March 2020, the company was entitled to exemption from audit under section 477 of the Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within part 15 of the Companies Act 2006 and with the Financial Reporting Standard 102 (FRS 102).

.

The accounts were approved by the Board on 15 September 2021

Director - R.L. Perkins

Company Registration No. 04299623

11

HENLEY YMCA

CASH FLOW STATEMENT AS AT 31 MARCH 2021

2021
£
Cash flows from operating activities:
Net cash provided by operating activities
148,071
Cash flows from investing activities:
Purchase of fixed assets
(12,444)
Additions to Investment Funds
(54,258)
Replacement of Housing property components
(9,724)
Disposal proceess of Investment Funds
50,000
Movement from Investment fund
(47,918)
Net cash provided by investing activities
(74,344)
Cash flows from financing activities:
Repayments of borrowing
(26,195)
Cash inflows from Grant & Loans
Cash used in financing activities
(26,195)
Change in cash and cash equivalents in the year
47,532
Cash and equivalents at the beginning of the year
310,265
Cash and cash equivalents at the end of the year
357,797
Reconciliation of net income/(expenditure) to cash flow from operating activities
2021
£
Net income/expenditure for the year (as per the
statement of comprehensive income)
98,273
Adjustments for:
Depreciation charges
41,907
Amortisation of Social Housing Grant & Loan
(2,003)
(Increase) / decrease in debtors
(1,213)
Increase / (decrease) in creditors
11,107
Net cash provided from operating activities
148,071
Analysis of cash and equivalents
Cash at bank and in hand
357,797
Total
357,797		 2020
£
99,738
(14,166)
(4,315)
(5,701)
12,941
(11,241)
(56,922)
-
(56,922)
31,575
278,690
310,265
2020
£
53,159
39,582
(2,004)
(4,411)
13,412
99,738
310,265
310,265

12

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2021

1. ACCOUNTING POLICIES

Company information

Henley YMCA is a Registered Charity and a Charitable Company Limited by Guarantee incorporated on 5 October 2001. The registered office is 2 Lawson Road, Henley-on-Thames, Oxfordshire, RG9 2AN.

Basis of accounting

The financial statements of the Association are prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS 102) and the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction for Private Registered Providers of Social Housing 2019.

The charity constitutes a public benefit entity as defined by FRS 102.

Preparation of the financial statements on a going concern basis

The charity has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future. It has therefore continued to adopt the going concern basis in preparing its financial statements.

The trustees’ consider there are sufficient reserves to meet the contingent liability disclosed in note 23 if the liability crystalised. There are no other significant areas of judgment or key estimates that affect items in the financial statements other than those described in the accounting policies below.

Turnover

Rental income from social housing

Rental income from social housing along with service charges are recognized in the period in which services are provided.

Income with related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross on SOFA.

Donations

These are recorded when the charity has unconditional entitlement to the resources

Tax reclaims on donations and gifts

Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they relate.

Investment income

This is included when receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Liabilities are recognised in the period in which they are incurred. Expenditure includes attributable VAT which cannot be recovered.

All expenditure is accounted for on an accrual basis. Governance costs are the costs incurred in maintaining the company as a separate legal entity. This includes the cost of servicing directors meetings and cost of preparation and examination of statutory accounts.

13

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

1. ACCOUNTING POLICIES (CONTINUED)

Expenditure (continued)

Pension schemes

Henley YMCA participates in a defined contribution scheme for its employees.

Tangible Fixed assets

Fixed assets are capitalised if they can be used for more than one year and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity or receipt. Assets are reviewed for impairment if circumstances indicate that their carrying value may exceed their net realizable value and value in use.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. The rates applied per annum are as follows:

Freehold Pavilion 60 years
Field fences, Court Surfaces & Lighting
25 years
Pavilion Equipment
15 years
Furniture & Fittings
20 years
Laundry Equipment
 15-20 years
Office Equipment 10-20 years
Tiger Turf 15 years
Electric meters 15 years

The value of the land on which the Pavilion, Residential Centre and Car Park are sited is not included within the balance sheet.

No depreciation is charged to the land on which the playing fields and courts are situated.

Housing Property

Freehold housing is stated at cost less accumulated depreciation. Component accounting is used to account for expenditure on housing. Under component accounting the housing property is divided into those major components which are considered to have different useful economic lives. The particular components are then depreciated over their individual economic lives as detailed below.

Shell and substructure 50 years
Public realm 10 years
Roof 30 years
Entrance doors and security 15 years
Kitchens 15 years
Windows 25 years
CCTV 15 years
Bathrooms 10 years
Plumbing and heating 15 years
Internal doors 15 years

Where a component is replaced the carrying value of the component is expensed and the cost of the replacement component capitalised.

14

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

1. ACCOUNTING POLICIES (CONTINUED)

Fixed Asset Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of comprehensive of income includes the net gains and losses arising on revaluation and disposals throughout the year. The charity does not acquire complex financial instruments.

Government grants

Government grants including those from local authorities are recognised in income over the useful life of the housing property structure under the accruals model.

If there is a change of use of the housing property (the property no longer being used for social housing) or there is a disposal of the property then there will be an obligation to repay the grant to the local authority at the full index-linked amount of the grant. At this point a liability for the full amount will be recognised in the Statement of Financial Position.

Debtors

Other debtors are recognised at the settlement amount due.

Cash at bank and in hand

Cash at bank and in hand includes cash and cash held at bank current accounts and short term highly liquid investments held on deposit accounts.

Creditors

Creditors and provisions are recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Loans and Borrowings

Loans and borrowings are initially recognized at the transaction price including transactions costs. Subsequently, they are measured at amortized cost using the effective interest rate method, less impairment.

Operating leases

Rentals charges are charged on a straight line basis over the term of the lease.

Reserves

Unrestricted general reserves

General reserves are unrestricted and for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted reserves

Restricted reserves are subjected to restrictions on their expenditure imposed by the donor or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Designated reserves

Designated reserves are unrestricted reserves that are set aside for specific purposes at the discretion of the Trustees.

15

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

2. SOCIAL HOUSING TURNOVER AND COSTS

Notes 2021 2020
£ £
Rents receivable excluding service charges 4 136,039 133,672
Service charges 4 68,309 62,640
Other income including electric cards 4 12,509 18,935
Capital grants receivable 2,003 2,004
Social Housing Activity Expenditure 174,858 181,186
Operating surplus on Social Housing Activities 44,002 36,065
Void losses 727 868

3. ACCOMMODATION OWNED AND IN MANAGEMENT

Number Number
of units at of units at
31.3.2021 1.4.2020
£ £
Supported Housing
- Flats and studios 31 31

16

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

4. INCOME

a) Donations etc.
Gifts, Grants & Donations
Henley Town Council Capital
Grant
b) Charitable Activities
Residential Centre:
Rent and service charges -Flats
Sale of Laundry Tokens
Sale of Electric Cards
Sundry Income
Support contribution
Pavilion:
Membership & Subscriptions
YMCA Pavilion Lettings
Pavilion Contributions
Playing Area:
Court Hire
Field Hire
Youth Department:
Youth Activities & Events
Football Club:
Match Fees & Subscriptions
Football casuals
Total Income from Charitable
Activities
Turnover (total of 4a and 4b)
c) Investment Income
Investment Trust & Funds
Other Bank Interest		 Unrestricted
Designated
Restricted
Total
2021
Total
2020
£
£
£
£
£
1,723
803
29,866
32,392
25,237
-
-
2,003
2,003
2,004
1,723
803
31,869
34,395
27,241
-
-
204,348
204,348
196,312
-
-
7
7
2,316
-
-
9,928
9,928
10,471
-
-
783
783
1,072
-
-
1,791
1,791
5,076
-
-
216,857
216,857
215,247
-
-
355
355
870
47
-
2,462
2,509
19,076
-
625
47
-
2,817
2,864
20,571
-
-
4,378
4,378
11,587
-
-
575
575
1,760
-
-
4,953
4,953
13,347
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
650
-
-
650
47
-
224,627
224,674
249,815
1,770
803
256,496
259,069
277,056
-
869
-
8,660
9,529
9,466
-
-
374
374
669
869
-
9,034
9,903
10,135

17

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

5. EXPENDITURE

a) Cost of Charitable Activities
General Costs:
Football casuals fund
Buyout costs		 Total
2021
Total
2020
£
£
65
263
-
65
263

General costs includes resources expended in respect of unrestricted reserves £nil (2020 - £nil), designated funds £65 (2020 - £263) and restricted funds £nil (2020 - £nil)

Youth Department Costs: Restricted
Youth Activities & Events
Residential Centre Costs: Restricted
Salaries & Staff Costs
Recruitment/Wellbeing Costs
Training
Travel & Subsistence
Telephone & Postage
Printing, Stationery & Advertising
Sundries
Insurance Costs
Affiliation Fees & Subscriptions
Furniture & Furnishing
Equipment Costs
Repairs & Maintenance
Leasing costs
Utilities
Water Charges
Cleaning Costs
Bad Debts
Software Costs
Depreciation
Net Deposits paid
Counselling fees
Residential housing costs – tenant support etc.
Residential housing costs - other
Residential housing costs - salary		 0
59
0
59
51,278
49,717
1,164
90
623
1,753
10
980
1,540
1,550
167
554
406
501
6,653
4,570
1,782
1,900
-
-
4,710
2,540
14,728
16,945
-
13,308
20,877
17,344
4,231
4,171
2,502
4,186
3,303
418
3,030
4,213
31,115
28,830
(150)
-
6,165
-
552
5,859
9,854
6,450
13,631
12,574
178,171
178,453

18

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

EXPENDITURE (Continued)

a) Cost of charitable activities (continued)
Development fund costs: Restricted
Pavilion:
Salaries and staff costs
Repairs & Maintenance
Insurance
Utilities
Sundries
Cleaning Costs
Equipment Costs
Depreciation
Playing Area:
Salaries and staff costs
Repairs & Maintenance
Sundries
Depreciation
Football Club:
Football Costs
Total Development fund costs
Total Cost of Charitable Activities
b) Other Costs
Bank Charges
Interest on housing loan
Independent Examiner’s Fee
Staff governance costs
Sundries		 Total
2021
Total
2020
£
£
1,077
1,623
3,235
2,224
1,727
1,676
1,916
4,234
489
206
655
3,314
2,638
2,183
5,044
5,004
16,781
20,464
1,077
1,623
3,461
4,656
327
1,922
5,748
5,748
10,613
13,949
-
-
-
-
27,394
34,413
205,630
212,925
32
32
2,050
1,313
2,852
2,733
6,725
3,057
1,328
768
12,987
7,903

Governance costs of £4,902 (2020 - £4,046) have been allocated against the Residential centre fund being a restricted reserve and £8,085 (2020 - £3,587) against unrestricted reserves.

The Independent Examiner’s Fee includes £2,316 (2020 - £2304) for the Independent Examination and the preparation of statutory accounts and £536 (2020 -£429) for additional accountancy/payroll services.

19

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

6. TANGIBLE FIXED ASSETS

----- Start of picture text -----
Restricted Restricted Restricted Restricted Restricted Restricted Restricted 2021
Freehold Playing Pavilion Laundry Furniture & Office & Electric Total
Pavilion Area Field & Equipment Equipment Fittings Computer Meters
Courts Equipment
£ £ £ £ £ £ £ £
Cost
At 1 April 2020 300,145 248,505 8,131 5,009 19,989 40,881 6,300 628,960
Additions 5,520 - 6,924 - 12,444
- - - - - -
Disposals (665) (665)
At 31 March 2021 305,665 248,505 15,055 5,009 19,324 40,881 6,300 640,739
Depreciation
At 1 April 2020 100,083 78,920 8,131 2,048 9,745 31,397 1,329 231,653
On disposals - - - - (290) - - (290)
Charge for the
year 5,044 5,748 342 709 712 2,309 420 15,284
At 31 March 2021 105,127 84,668 8,473 2,757 10,167 33,706 1,749 246,647
Net book value
At 31 March 2021 200,538 163,837 6,582 2,251 9,157 7,175 4,551 394,092
At 31 March 2020 200,062 169,585 - 2,961 10,244 9,484 4,971 397,307
----- End of picture text -----

7. FIXED ASSET – Housing Property

----- Start of picture text -----
Total
£
Cost
At 1 April 2020 680,354
Additions 9,724
Disposals -
At 31 March 2021 690,078
Depreciation
At 1 April 20 50,152
On disposals -
Charge for year 26,248
At 31 March 2021 76,400
Net book value
At 31 March 2021 613,678
At 31 March 2020 630,202
----- End of picture text -----

20

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

8. INVESTMENTS

----- Start of picture text -----
Unrestricted Funds Restricted Funds
M&G Charifund Foreign & Fixed Interest Investment 2021
Colonial Fund Fund Total
£ £ £ £ £
Carrying (fair) value as at 1 April 2020 13,150 7,860 38,864 207,860 267,734
Additions to investments during the year - - 50,852 3,406 54,258
- - -
Disposals at carrying value (50,000) (50,000)
Add net gain/ (loss) on revaluation 3,047 3,186 (2,829) 44,514 47,918
Carrying (fair) value as at 31 March 2021 16,197 11,046 86,887 205,780 319,910
----- End of picture text -----

9. CASH AT BANK AND IN HAND

Cash at bank and in hand
Petty Cash
10. DEBTORS
Sundry Debtors
Prepayments and accrued income
Gift aid tax reclaimable
Housing benefit arrears
Rent arrears		 2021
£
357,752
45
357,797
2021
£
375
2,615
-
6,595
4,710
14,295		 2020
£
310,224
41
310,265
2020
£
6,956
2,408
-
3,718
-
13,082

11. CREDITORS Amounts falling due within one year

SODC - Housing loan
Accruals
Deferred income
Company Credit Card
Sundry Creditors
Henley Town Council Capital Grant - Deferred		 2021
£
11,470
5,311
4,003
1,111
29,124
2,004
53,023		 2020
£
11,035
2,508
3,673
440
21,826
2,004
41,486

21

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

12. Creditors: amounts falling due after one year

Henley Town Council Capital Grant - Deferred
SODC - Housing Loan
Housing Loan
Within 1 year
Between 2 and 5 years
After 5 or more years		 2021
£
91,817
62,604
154,421
11,470
50,454
12,150
74,074		 2020
£
93,820
89,234
183,054
11,945
46,789
42,445
101,179

The Henley Town Council grant and SODC Housing loan are secured on the housing property. The SODC housing loan is a concessionary loan repayable over 180 months at an interest rate of 2.32%. During the year lump sum of £15,000 was repaid of the loan to reduce the repayment period by 25 months.

13. Deferred Grant Income

As at 1 April 2020
Grant Received in the year
Released to income in the year
Amounts to be released within one year
Amounts to be released in more than one year		 2021
£
95,824
(2,003)
93,821
2,004
91,817
93,821		 2020
£
97,828
(2,004)
95,824
2,004
93,820
95,824

14. SHARE CAPITAL

Henley YMCA, a registered charity, is a company limited by guarantee, not having any share capital. In the event of a winding up, each member may be required to contribute an amount not exceeding £1 towards the settlement of the company’s liabilities.

15. TRUSTEES

The Trustees were not paid and did not receive any benefits from employment with the Charity in the year (2020: £nil).

There were reimbursements of expenses to Trustees during the year of £nil (2020: £19).

There were no related party transactions during the year (2020: £nil).

22

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

16. EMPLOYEES

Wages and salaries
Social security costs
Other pension costs
Employees who were engaged in the following activities:
Managing & Administrating the Charity		 2021
£
70,876
2,190
2,069
75,135
2021
3		 2020
£
63,404
2,929
1,902
68,235
2020
3

The Charity operates a PAYE scheme to pay employed members of staff and no employees received emoluments in excess of £60,000 (2020 – nil).

The key management personnel of the charity comprise the trustees and the CEO/finance manager. The total employee benefits of the key management personnel of the Charity were £42,101 (2020 - £40,273).

17. PENSION COSTS

Defined Contribution

2021 2020
£ £
Contributions payable for the year 2,069 1,902

23

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

18. RESTRICTED RESERVES

Development Fund
Residential Centre Fund
Katie’s Kitchen
Residential Centre –
Maintenance fund
Residential Roofing fund
Resident Discretion Fund
The Garden Project
Signposting Access Point
Fund
The Youth Work Fund
John Hodges Starter
Packs
Room sponsorship
Masowi Counseling
Masowi Hardship		 Balance
Balance
01-Apr-20
Income
Expenditure
Transfer
31-Mar-21
£
£
£
£
£
658,206
37,705
(27,394)
4,258
672,775
618,590
262,751
(182,725)
(17,528)
681,088
312
-
-
-
312
20,000
-
-
-
20,000
59,148
59,148
750
-
-
-
750
242
-
-
-
242
150
-
-
-
150
1,124
-
-
-
1,124
316
-
-
-
316
-
409
-
-
409
801
5,964
-
-
6,765
3,765
386
(215)
(310)
3,626
1,304,256
307,215
(210,334)
45,568
1,446,705

The restricted reserves are represented by tangible fixed assets, fixed asset investments and the Charity’s cash reserves.

Income includes fair value gains on investments.

The Signposting Access Point Fund – This fund is for the benefit of young people between the age of 13 – 19 in support of guidance, leading them from education to starting work and leading then to adult life.

The Development Fund – The fund is restricted by the Trust Deed dated 20 April 1926 to be used for the sporting activities and the furtherance of sporting activities including the maintenance and up keep of any building associated with sport.

During the financial year an amount of £4,258 (2020 - £4,315) has been repaid including interest (transfer from Residential Centre Fund) to the Development Fund in relation to the Pension Buy-Out Scheme and as at 31 March 2021 an outstanding liability of £nil (2020 - £4,114) is still owed to the Development Fund.

Residential Centre Fund – A residential centre consisting of 31 flats and studios, lounge, laundry and offices which had been developed by YMCA National Council and is managed by Henley-onThames YMCA.

Two separate restricted funds have been set aside from the main Residential Centre Fund to set for specific anticipated expenses that also comply with fund restrictions.

There was a transfer from Residential Centre Fund to the Maintenance for the Roof Replacement Fund of £13,580 (2020 - £13,184).A transfer was also made from Masowi Hardship fund of £310 (2020 - £nil) for electric.

Residential Centre - Maintenance Fund – This fund has been established to provide funds for anticipated maintenance and replacement costs for Residential Centre following the purchase of the residential lease from YMCA England.

24

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

18. RESTRICTED RESERVES – continued

Youth Work Fund – Funds received and expended on youth and children’s events.

Residents Discretion Fund – Fund available for communal projects as determined through consultation with residents.

Garden Project – A resident led grounds for improvement project.

Katie’s Kitchen – This fund has been established to provide a support group for vulnerable young women of the local area.

Masowi – This fund has been established to provide support with counselling costs for YMCA Henley Residents.

Masowi Hardship fund – This fund has been established to provide small loans to tenants to help alleviate financial hardship while waiting for Universal Credit payments to start. It was used during the COVID pandemic to provide tenants with electricity credit. A transfer of £310 (2020 -£nil) was made to the Residential Centre Fund for electric costs.

John Hodges Starter Packs – This has been established to provide new tenants with the basics when moving in, such as, Kettle, toaster, saucepans and crockery and cutlery.

19. INCOME AND EXPENDITURE RESERVES

General reserve
Designated reserves -
Financial Assistance Fund
Residential Replacement,
Maintenance & General Reserve Fund
Football Casuals Fund		 Balance
Balance
01-Apr-20
Income
Expenditure
Transfer
31-Mar-21
£
£
£
£
£
41,828
8,872
(8,218)
-
42,482
1,733
-
-
-
1,733
45,568
-
-
(45,568)
-
665
803
(65)
-
1,403
89,794
9,675
(8,283)
(45,568)
45,618

Designated reserves

Financial Assistants Fund – This fund has been established to provide residents with loans for necessities until their benefit status has been established.

Residential Centre Reserve Fund – The fund was maintained to provide for the replacement of furniture, cyclical maintenance and other contingencies for the residential scheme. This fund has now been repurposed as a restricted fund called the Residential Roofing Fund.

Football Casuals Fund – The fund has been established for the operation of the YMCA Casuals Team which is football for learning difficulties.

25

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2021

20. DIRECTORS AND OTHER RELATED PARTY TRANSACTIONS

No payments were made to directors or any persons connected to them during this financial period. No material transaction took place between the charity and directors or any person connected with them. No directors or other related parties have any interest in any conduct or transaction entered in to by the charity.

21. PENSION SCHEME

Henley YMCA like many other YMCAs participated in a Multi-employer Pension Plan for its employees. The assets of the YMCA pension plan were held separately from those of Henley YMCA.

Due to government action, the fall in stock markets and revised actuarial calculations by the government actuary, the Pension Plan had a large deficit which had to be made up by the local YMCAs. Having sought professional advice, it was confirmed to be in the best interests of the charity to buy- out its deficit liabilities to the Pension plan. The action would protect Henley YMCA from indeterminable future increase in its liabilities. Having again sought appropriate advice, the Trustees of the Development fund Trust agreed a loan of £40,000 to Henley YMCA to be repaid over 10 years at bank rate plus 1% towards the costs of funding the buy-out. The buy-out was actioned in February 2011 at a cost, including fees, of £57,090. The Development Fund has now been fully repaid for the pension loan.

22. ANALYSIS OF CHANGES IN NET DEBT

Cash
Loans falling due within one
year
Loans falling due after more
than one year
Total		 Balance at 1
April 2020
Cash-flows
£
£
310,265
47,532
(11,035)
(435)
(89,234)
26,630
(100,269)
26,195
209,996
73,727		 Balance at 31
March 2021
£
357,797
(11,470)
(62,604)
(74,074)
283,723

23. CONTINGENT LIABILITY

During 2019-20 Henley YMCA entered in to lease agreements which are currently being contested through legal representation. The dates for the eventual outcome of the cases are unknown but the maximum liability of Henley YMCA in the worst case scenario would be £125,000 although it is hoped the final amount will be negotiated to a lower amount. This position has not changed as the Charity has not received any communication from the parties concerned during 2020-21 financial year.

26