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2024-03-31-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 2024

HENLEY YMCA

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR TO 31 MARCH 2024

President Dr. Krish Kandiah
Vice President N.K. Topsom MBE
Trustees/Directors R. Duckett (Chair)
A. Newell (Appointed December 2023)
D.Eggleton
Dr T.P. Dudeney (Resigned September 2023)
R.L. Perkins (Treasurer)
R.Appleyard
K. Hinton ( Resigned Sept 2023)
F. J. Brookes
J. Streatfeild
R Magnay
F. Ahmad
K.K. Sentence
Chief Executive Officer 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 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

Bankers (continued)

Metro Bank 201 Broad St, Reading RG1 7QA Flagstone Group LTD 1[st] Floor, Clareville House 26-27 Oxendon Street London, SW1Y 4EL

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 - 9
(Including Statement of Directors’ Responsibilities)
Independent Examiner’s report 10
Comprehensive statement of income 11
Statement of financial position 12
Cash flow statement 13
Notes to the accounts 14 - 27

4

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Directors present their report and the financial statements for the year to 31 March 2024 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 2022

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 CEO (Lisa Grant).

The CEO, other staff and volunteers work 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 four sub committees. These committees cover: 1. Finance including, Risk Management; 2. Housing; 3. Personnel and 4. Development. The Board and sub-committees are supported by a Governance Manager. The board has a wide range of experience and expertise covering finance, accounting, marketing, property management, healthcare, 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 2024

Achievements and Performance

The following headlines give highlights for 2023-2024 across Henley YMCA’s mission activities:

Housing

Henley YMCA has continued to provide access to affordable housing for local young people between the ages 18-35. 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 2023-24, Henley YMCA provided accommodation for 43 young people. 13 tenants of Henley YMCA were longer-term tenants (over 2 year and up to 4 years), 2 stayed the maximum 5 years and 12 were new tenants. All tenants enjoyed the relative stability provided by Assured Short Hold Tenancies.

During 2023-24, 14 tenants made use of the onsite Counselling Service for those who required extra support with their mental health. 1,059 support sessions were offered and 69 food parcels supplied by Nomad were handed out.

Tenant satisfaction surveys completed by Henley YMCA tenants used the new Social Housing Regulator template. 74% of the tenant population took part which was a 22% increase on the year before. 82% of respondents were either satisfied or very satisfied with Henley YMCA and 88% said that Henley YMCA met their needs either very well or extremely well and was value for money. 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.

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 achieved their timetable to meet the standards of the Trusted Charity Quality Assurance measure by 31[st] December 2023.

Active living activities

The Y Centre Hall has continued to recover from the drop in usage as a result of the COVID pandemic. However, over the year there were 15regular groups. The Astro Turf has seen a steady increase in usage over the year.

Henley YMCA continued to develop their community activity program. With funding from Active Oxford, The FA, Mosawi Foundation and Heley Lions they were able provide football and dance sessions for children that accessed Free School Meals. In addition, Community Wellbeing and, Youth Disability football sessions as well as Pickel Ball were introduced.

Table Tennis and Pad work sessions were run for Henley YMCA tenants.

Future plans

A Strategy Plan 2023 – 2025 was agreed by the Directors in May 2023 which includes 6 Strategic Priorities to develop ~~on~~ the services and reach of Henley YMCA as detailed below.

The Directors will review the Key Initiatives & Actions achieved during the period of this report and amend the plan in 2024 through retained and new Key Performance Indicators ~~.~~

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 continue to investigate working collaboratively with other local YMCAs.

  3. Henley YMCA will continue to build on the options available to develop a marketing strategy to promote the range of facilities available.

  4. Henley YMCA will start to work on a long tern funding strategy.

6

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Residential Centre Fund Activities

  1. Henley YMCA will continue to investigate the feasibility of developing a further 30 one-bed “Move On” accommodation units. This is a long-term objective and is very much dependent on a good working partnership with Sports England. The development is tied in with the development of the Y Centre.

  2. As part of Henley YMCA’s commitment to reducing its Carbon Footprint and reducing energy usage, the charity is engaged in retrofitting insulation and ventilation on its accommodation units during 2024-25.

  3. To update and develop where needed the 30-year asset management/maintenance plan. The plan includes ongoing day-to-day, routine maintenance and statutory inspections etc.

  4. Henley YMCA will continue to develop, with signposting-partners, opportunities on and off site, for tenants to engage with developmental activities in addition to receiving day-to-day support and guidance information. Staff will continue to review of all other relevant providers and partners in the area, 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 such as the CAP programs.

  5. Henley YMCA will continue to develop a variety of different enrichment activities, such as Table tennis and other sporting sessions, cooking classes and working with local churches to develop a chaplaincy support program.

Y Centre and field Activities

  1. The Y Centre is 22 years old and, in that time, has had some refurbishment completed on it. However, aspects of its fabric are outdated and certainly not energy efficient. Henley YMCA will investigate and implement any short-term energy efficiency improvements. However, the Directors will continue to investigate the options available either to upgrade or rebuild that Y Centre.

  2. The SCDO will continue to develop the services and activities provided by Henley YMCA, address the underutilisation of the current Y-Centre facilities, build Henley YMCA’s profile in the community, and improve management of the sports and community provision of Henley YMCA.

  3. Henley YMCA plans to start Women’s and Walking football sessions this year as well as Boccia and Youth Table tennis sessions.

  4. Henley YMCA will continue the development of Health and Wellbeing activities for both tenants and members of the wider community of Henley.

  5. 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 programs. These programs 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.

  6. The agreement signed with AFC Henley to maintain and run the Henley YMCA grass pitch usage has been renewed until the end of the 2023-24 season.

  7. Henley YMCA is hoping to go into partnership with Henley United to develop a football program for those under 16.

The long-term costed asset management maintenance plan will be updated and implemented to maintain good quality, fit-for-purpose community facilities.

7

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Investment Policy

Under the Articles of Association, the charity has power to make any investment which the Directors think fit. The Directors have reviewed their investment policy and strategy and considers that the use of specialised trusts designed for the charity sector continues to meet its requirements. In addition, Henley YMCA signed up to the CAF Deposit Platform to ensure best returns on its investments.

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 3 months operating costs. The level of reserves will be monitored on an annual basis.

Henley YMCA are accumulating additional reserves in the Residential, Replacement and Maintenance Fund in order to cover major refurbishment programs (e.g. kitchen and bathroom refurbishment, roof repairs) that will be required in future to maintain the condition of our land and buildings.

The Restricted Development Fund (Y Centre) 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 their running costs.

Financial Report

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

Total Comprehensive Income in 2023-24 was £59,994 of which £23,988 was from donations, as detailed on Comprehensive statement of income (page 11).

8

HENLEY YMCA

DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Preparation and Examination of Accounts

Edwin Smith Chartered Accountants were reappointed to prepare Henley YMCA’s accounts for 2023-24 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 2022. 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 25[th] September 2024

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

9

HENLEY YMCA

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 MARCH 2024

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024, which are set out on pages 11 to 27.

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: Philip J Nixon

10

HENLEY YMCA

COMPREHENSIVE STATEMENT OF INCOME (including Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024

Notes
Turnover
4
Operating Costs
Other Income
4
Operating profit
Interest Receivable
4
Interest on Housing loan
Gain/(Loss) on fair value of
investments
Total Comprehensive Income /
(Expenditure) for the year		 2024
£
345,499
(323,817)
9,167
30,849
6,499
(1,070)
23,716
59,994		 2023
£
308,571
(278,475)
9,433
39,529
2,096
(1,349)
(13,733)
26,543

Statement of Income and Retained Earnings

Notes Income & Restricted Total
Expenditure Reserve
£
 £ £
Balance as at 1 April 2022 68,823 1,505,343 1,574,166
Total comprehensive Income / 5,427 21,116 26,543
(Expenditure) for the year ended
2023
Transfers to restricted reserves (520) 520 -
Balance as at 31 March 2023 73,730 1,526,979 1,600,709
Total comprehensive Income / 13,363 46,631 59,994
(Expenditure) for the year ended
2024
Transfers to restricted reserves (29,183) 29,183 -
Balance as at 31 March 2024 57,910 1,602,793 1,660,703

11

HENLEY YMCA

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024

2024 2024 2023 2023
Notes £ £ £ £
Fixed assets
Tangible assets 6 382,066 397,263
Housing Properties 7 552,630 580,718
Investments 8 343,587 319,871
1,278,283 1,297,852
Current assets
Debtors 10 15,220 13,524
Cash at bank and in hand 9 509,748 462,870
524,968 476,394
Creditors: Amounts falling due within
one year		 11 (30,122) (47,000)
Net current assets/(liabilities) 494,846 429,394
Total net assets or liabilities 1,773,129 1,727,246
Creditors:amounts falling due after
more than one year		 12 (112,426) (126,537)
Total Net Assets 1,660,703 1,600,709
Reserves
Income and expenditure account 19 57,910 73,730
Restricted reserves 18 1,602,793 1,526,979
Total reserves 1,660,703 1,600,709

For the year ending 31 March 2024, 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 25[th] September 2024

Director - R.L. Perkins

Company Registration No. 04299623

12

HENLEY YMCA

CASH FLOW STATEMENT AS AT 31 MARCH 2024

2024
£
Cash flows from operating activities:
Net cash provided by operating activities
82,768
Cash flows from investing activities:
Purchase of fixed assets
-
Replacement of Housing property components
-
Movement from Investment fund
(23,716)
Net cash provided by investing activities
59,052
Cash flows from financing activities:
Repayments of borrowing
(12,174)
Cash inflows from Grant & Loans
Cash used in financing activities
(12,174)
Change in cash and cash equivalents in the year
46,878
Cash and equivalents at the beginning of the year
462,870
Cash and cash equivalents at the end of the year
509,748
Reconciliation of net income/(expenditure) to cash flow from operating activities
2024
£
Net income/expenditure for the year (as per the
statement of comprehensive income)
59,994
Adjustments for:
Depreciation charges
43,285
Amortisation of Social Housing Grant & Loan
(2,004)
Loss on disposal of fixed assets
-
(Increase) / decrease in debtors
(1,696)
Increase / (decrease) in creditors
(16,811)
Net cash provided from operating activities
82,768
Analysis of cash and equivalents
Cash at bank and in hand
509,748
Total
509,748		 2023
£
76,488
(15,610)
-
13,733
(1,877)
(11,896)
(11,896)
62,715
400,155
462,870
2023
£
26,543
43,453
(2,004)
3,372
3,287
1,837
76,488
462,870
462,870

13

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

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 2022.

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.

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.

14

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

1. ACCOUNTING POLICIES (CONTINUED)

Expenditure (continued)

Pension scheme

Henley YMCA participates in a defined contribution scheme for its employees. Contributions payable to the scheme are charged to the income and expenditure account in the period to which they relate. The assets are held separately from Henley YMCA in an independently administered fund.

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
 10-15 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.

15

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

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.

16

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

2. SOCIAL HOUSING TURNOVER AND COSTS

Notes 2024 2023
£ £
Rents receivable excluding service charges 4 162,461 141,246
Service charges 4 91,456 89,401
Other income including electric cards 4 16,410 19,286
Capital grants receivable 2,004 2,004
Social Housing Activity Expenditure 256,289 229,596
Operating surplus on Social Housing Activities 16,042 22,341
Void losses 1,318 1,175

3. ACCOMMODATION OWNED AND IN MANAGEMENT

Number Number
of units at of units at
31.3.2024 1.4.2023
£ £
Supported Housing
- Flats and studios 31 31

17

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

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 Electric Cards
Sundry Income
Support contribution
Counselling
Insurance Claims
Council tax
Net Deposits
Rent Arears Debt Recovery
Net Tenant Loan Repayment
Pavilion:
Membership & Subscriptions
YMCA Pavilion Lettings
Community Projects
Pavilion Hire- Non-Sport
Active Oxfordshire Activities
Playing Area:
Court Hire
Field Hire
Football Club:
Football casuals and other
Total Income from Charitable
Activities
Turnover (total of 4a and 4b)
c) Investment Income
Investment Trust & Funds
Other Bank Interest		 Unrestricted
Designated
Restricted
Total
2024
Total
2023
£
£
£
£
£
8,928
-
13,056
21,984
11,608
-
-
2,004
2,004
2,004
8,928-
-
15,060
23,988
13,612
-
-
-
253,917
253,917
230,647
-
-
9,321
9,321
9,975
-
-
876
876
112
-
-
3,140
3,140
3,420
-
-
30
-
-
126
126
1,904
-
-
1,029
1,029
2,451
-
-
-
-
450
-
-
1,607
1,607
668
-
-
311
311
276
-
-
270,327
270,327
249,933
-
-
1,317
1,317
2,780
-
-
16,461
16,461
14,953
-
-
1,500
1,500
-
4,142
-
-
4,142
2,078
-
--
-
1,540
4,142
-
19,278
23,420
**21,351 **
-
-
26,271
26,271
18,048
-
-
810
810
4,545
-
-
27,081
27,081
22,593
-
683
-
683
1,082
-
683
-
683
**1,082 **
4,142
683
316,686
321,511
294,959
13,070
683
331,746
345,499
308,571
1,140
8,027
9,167
9,433
-
6,499
6,499
2096
1,140
14,526
15,666
11,529

18

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

5. EXPENDITURE

Total
Total
2024 2023
£ £
a) Cost of Charitable Activities
General Costs:
Football casuals fund 345 251
345 251
General costs includes resources expended in respect of unrestricted reserves £nil (2023 - £nil),
designated funds £345 (2023 - £251) and restricted funds £nil (2023 - £nil)
Residential Centre Costs: Restricted
Salaries & Staff Costs 71,453 59,670
Recruitment/Wellbeing Costs 5,025 3,208
Training 2,331 3,229
Travel & Subsistence 590 474
Telephone & Postage 1,297 1,542
Printing, Stationery & Advertising 1,596 1,797
Sundries 1,327 833
Insurance Costs 9,519 7,668
Affiliation Fees & Subscriptions 2,546 2,186
Furniture & Furnishing 4,557 4,120
Equipment Costs 2,631 2,899
Repairs & Maintenance 45,134 14,806
Utilities 20,067 18,503
Water Charges 5,365 4,930
Cleaning Costs 4,570 3,926
Bad Debts 6,455 3,462
Software Costs 3,845 10,063
Depreciation 31,617 30,591
P/L on disposal 3,372
Net Deposits paid 610 -
Counselling Fees 3,925 4,240
Residential housing costs – tenant support etc. 433 408
Residential housing costs – tenant loan - -
Residential housing costs - other 7,829 5,683
Residential housing cost- salary 27,820 39,788
Residential development 2,202 5,660
262,744 233,058

19

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

5. 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 and Y Centre:
Salaries and Staff costs
Y centre project costs
Repairs, Maintenance and Equipment
Sundries
Depreciation
Youth work:
Youth work 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
Bursary
Fundraising costs
Sundries		 Total
2024
Total
2023
£
£
-
2,633
4,935
1,275
1,263
1,097
2,249
2,388
410
2,440
3,608
3,347
401
1,358
5,712
5,878
18,578
20,416
24,401
7,837
1,213
-
3,664
3,748
669
570
5,956
6,984
35,903
19,139
50
-
50
-
54,531
39,555
317,620
272,864
175
46
1,070
1,349
3,738
3,218
-
74
-
500
223
2,061
1,773
7,267
6,960

Governance costs of £5,194 (2023 - £5,067) and Bursary have been allocated against the Residential centre fund being a restricted reserve and £2,073 (2023 - £1,573) against unrestricted reserves.

The Independent Examiner’s Fee includes £2,598 (2023 - £2,478) for the Independent Examination and the preparation of statutory accounts and £1,140 (2023 - £740) for additional accountancy/payroll services.

20

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

6. TANGIBLE FIXED ASSETS

Restricted
Freehold
Pavilion		 Restricted
Playing
Area Field &
Courts		 Restricted
Pavilion
Equipment		 Restricted
Laundry
Equipment		 Restricted
Furniture &
Fittings		 Restricted
Office &
Computer
Equipment		 Restricted
Electric
Meters		 2024
Total
£ £ £ £ £ £ £ £
Cost
At 1 April 2023 305,665 272,164 17,222 8,210 19,470 41,994 6,300 671,025
Additions - - - - - - - -
Disposals - - - - - - - -
At 31 March 2024 305,665 272,164 17,222 8,210 19,470 41,994 6,300 671,025
Depreciation
At 1 April 2023 115,474 94,632 9,784 3,745 11,199 36,339 2,589 273,762
On disposals - - - - - - - -
Charge for the
year		 5,184 5,956 528 697 792 1,620 420 15,197
At 31 March 2024 120,658 100,588 10,312 4,442 11,991 37,959 3,009 288,959
Net book value
At 31 March 2024 185,007 171,576 6,910 3,768 7,479 4,035 3,291 382,066
At 31 March 2023 **190,191 ** **177,532 ** 7,438 4,465 8,271 5,655 3,711 397,263

7. FIXED ASSET – Housing Property
Total
£
Cost
At 1 April 2023 710,658
Additions -
Disposals -
At 31 March 2024 710,658
Depreciation
At 1 April 2023 129,940
On disposals -
Charge for year 28,088
At 31 March 2024 158,028
Net book value
At 31 March 2024 552,630
At 31 March 2023 580,718

21

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

8. INVESTMENTS

Unrestricted Funds Unrestricted Funds Restricted Funds Restricted Funds
M&G Charifund Foreign &
Colonial		 Fixed Interest
Fund		 Investment
Fund		 2024
Total
£ £ £ £ £
Carrying (fair) value as at 1 April 2023 16,315 12,549 75,928 215,079 319,871
Additions to investments during the year - - - -
Disposals at carrying value - - - - -
Add net gain/ (loss) on revaluation (298) 1,186 3,359 19,469 23,716
Carrying (fair) value as at 31 March 2024 16,017 13,735 79,287 234,548 343,587
9. CASH AT BANK AND IN HAND
Cash at bank and in hand
Petty Cash
10. DEBTORS
Sundry Debtors
Prepayments and accrued income
Housing benefit and rent arrears
11. CREDITORS
Amounts falling due within one year
SODC - Housing loan
Accruals
Deferred income
Sundry Creditors
Henley Town Council Capital Grant - Deferred		 2024
£
509,717
31
509,748
2024
£
1,397
2,146
11,677
15,220
2024
£
11,762
3,640
5,575
7,141
2,004
30,122		 2023
£
462,839
31
462,870
2023
£
3,053
2,329
8,142
13,524
2023
£
11,829
2,839
4,971
25,357
2,004
47,000

22

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

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		 2024
£
85,805
26,621
112,426
11,762
26,621
38,383		 2023
£
87,809
38,728
126,537
11,829
38,728
50,557

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%.

13. Deferred Grant Income

As at 1 April 2023
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		 2024
£
89,813
(2,004)
87,809
(2,004)
(85,805)
87,809		 2023
£
91,817
(2,004)
89,813
(2,004)
(87,809)
89,813

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 (2023: £nil).

There were reimbursements of expenses to one trustee of £31 during the year (2023: £nil).

There were no related party transactions during the year (2023: £nil).

23

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

16. EMPLOYEES

Wages and salaries
Social security costs
Other pension costs
Employees who were engaged in the following activities:
Managing & Administrating the Charity		 2024
£
123,314
6,059
3,647
133,020
2024
5		 2023
£
111,311
4,635
3,113
119,059
2023
5

The Charity operates a PAYE scheme to pay employed members of staff and no employees received emoluments in excess of £60,000 (2023 – nil).

The key management personnel of the charity comprise the trustees (see note 15) and the CEO. The total employee benefits of the CEO is £53,428, (2023 - £52,147) including remuneration of £46,818 (2023- £45,966). The CEO is an ordinary member of the charity pension scheme. For further details of the pension scheme see accounting policies on page 15.

17. PENSION COSTS

Defined Contribution

Contributions payable for the year 2024
2023
£
£
3,647
3,113

24

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

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 Counselling
Masowi Hardship
Community projects
Work Bursary		 Balance
Balance
01-Apr-23
Income
Expenditure
Transfer
31-Mar-24
£
£
£
£
£
713,147
75,714
(53,268)
2,412
738,005
614,735
284,211
(263,733)
27,936
663,149
312
312
76,575
76,575
102,869
102,869
750
750
242
242
150
150
1,124
(50)
1,074
316
316
-
2,211
2,211
5,517
10
(3,925)
1,602
5,202
281
(280)
5,203
1,540
6,673
(1,213)
(543)
6,457
4,500
(622)
3,878
1,526,979
369,100
(322,469)
29,183
1,602,793

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

Income for the development fund includes fair value surpluses on investments of £22,828.

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.

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.

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.

25

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

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.

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.

Work Bursary – This has been established to provide those tenants who move off housing benefit into full time work one months rent to bridge the gap between housing benefit payments and their first wage payment.

Community Projects – This has been established to cover the costs of new community projects that have received funding for a particular provision, e.g. Free School Meals sports sessions.

19. INCOME AND EXPENDITURE RESERVES

General reserve
Designated reserves -
Financial Assistance Fund
Printer
Football Casuals Fund		 Balance
Balance
01-Apr-23
Income
Expenditure
Transfer
31-Mar-24
£
£
£
£
£
50,945
15,098
(2,073)
(9,679)
54,291
1,733
1,733
19,000
(19,000)
-
2,052
683
(345)
(504)
1,886
73,730
14,893
(2,418)
(29,183)
57,910

Income for the general reserve fund includes fair value surpluses on investments of £888

Designated reserves

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

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

Printer – This issue has now been resolved and therefore this fund will be discontinued going forward and has been transferred back to the general reserve.

26

HENLEY YMCA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024

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. 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 2023
Cash-flows
£
£
462,870
46,878
(11,829)
67
(38,728)
12,107
(50,557)
12,174
412,313
59,052		 Balance at 31
March 2024
£
509,748
(11,762)
(26,621)
(38,383)
471,365

27