HOSTELLING
IKruiNATIONAL
Company number 02250706
Charity number 1117014
International Youth Hostel Federation
(Operating as Hostelling International)
Annual Report and Financial Statements for the
Year Ended 31 December 2023
Hostelllng Internatlonal17 Bell Yard l London, WC2A 2JR l England
Emall: info@hihostels.com I www.hihostels.com
Registered Charity lin England & Wales) No. 11170141 Company No. 02250706

CONTENTS
Report of the Board of Trustees ................
Tru5tees' responsibility statement.........-.......-......-.................-...-.......................................-......-......-.........
16
Independent Examinerfs report to the members of International Youth Hostel Federation
17
Financial Statements
19
Statement of financial activities for the year ended 31 December 2023
19
Balance sheet 35 at 31 December 2023
20
Statement of tash flows for the year ended 31 December 2023
21
Notes to the financial statements
22
Registered Office and Professional Advisors
34
HI Member Associations ............................................
35

REPORT OF THE BOARD OF TRUSTEES
ABOUT HOSTELLING INTERNATIONAL
International Youth Hostel Federation loperatin8 a5 Hostelling International and referred to throughout
this report as"Hl" or"IYHF"l is a registered charity and non-governmental, not-for-profit organisation
representing fifty eight Member Associations IMAS) and one Associate Organisation from all over the
world. It is one of the world's la¥@est yOLFth membership organisations and it is recognised by UNESCO
Iunited Nations Educational Scientific and Cultural Organisationl.
HI is the only global network of Youth Hostel Associations. Its nearly 3.6 million member travellers have
a choice of over 3,000 hostels worldwide. all of which work with a set of internationally assured quality
standards. HI'S membership savings programme 3150 gives access to thousands of travel-related savings.
The history of Hostelling International
The concept of hostelling was founded in Germany by Richard Schirrmann, a school teacher, in 1909. He
came up with the idea of a network of youth h05te15 when he and his students were caught in
thunderstorm during an excursion and were offered accommodation in a school. The first official youth
hostel opened in Burg Altenè in 1912, after which the youth hostel movement grew rapidly. By the
summer of 1931 there were 12 Youth H05tel Associations in Europe, operating a total of 2,600 hostels.
The International Youth Hostel Federation was founded at the first International Confe¥ence in
Amsterdam, the Netherlands, in 1932 where Richard Schirrmann was elected the first President.
Objects
The purpose of the charity is defined by our choritable object..
"To promote the education of all yOLtrn8 people of all nations, but especially young people of
limited means, by encouraging in them a greater knowledge, love and care of the countryside
and an appreciation of the cultural values of towns and cities in all parts of the world, and as
ancillary thereto to provide hostels or other accommodation in which the￿ shall be no
distinction of origins, nationality, colour, religion, sex, class, or political opinions and thereby to
develop a better understanding of their fellow men, both at home and abroad."
In other words.. we exist to give young people the chance to discover the world, its cultures and fellow
people in order to build a more understanding, tolerant, peaceful, enviror+mentally considerate world.
OBJECTIVES AND ACTIVITIES
HI achieves its mission through its international programmes, Member Association5, and h05tels. The HI
network h35 fifty eight Member A550ciations and one Associate Organi5ation with over 3,000 hostel5,
ensuring there is a safe, low-cost base from which young people can explore the world.
HI promotes sustainable hostelling and offers to its Member Associations the Hl-Q&S Iquality and
standardsl programme, which seeks to optimise the customer experience and continuous improvement
of hostel operations.

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
Our website www.hihostels.com is a content and inspiration hub. signposting travellers to hostels in our
network that offer an affordable and 5LlStainable way of travelling internationally.
The Boafd of Trustees continue to have due regard to the Charity Commission in England and Wales's
guidance on public benefit. Through careful management of HI membership income, hihostels.com
income and existing funds, HI provides a public benefit by promoting and facilitating international travel
for young people through programmes and safe, affordable and sustainable youth hostels.
VISION AND STRATEGY
In 2022 the HI Strate8y working group proposed a strategic direction and plan for the network for the
period 2022-26, which was endorsed by the members at the 54, conference in September 2022.
The goals for 2026 are=
Growth in the number of people, overnights and income in our Federation.
Growth in number of young people recognising and engaging with the HI Brand antl Federation.
Growth in guest satisfaction and quality recognition.
Growth in Member Associations participation in collaborative projects and pro8rams that
strengthen hostelling.
Increased recognition of HI'S leadership in youth travel and sustainable tourism.
The Strategic Priorities to meet these goals are the following..
l. Survive. Then Thrivel - Increase Impact
Support Hostelling's Recovery
Win More Travellers to Hostelling
Differentiate Our Hostels
Increase the Visibility of Our Leadership
2. Strengthen Our Fundamentals- Functional capabilities
Enhance Collaboration
Better Position Our Purposeful Brand
Expand Technology
More Efficient Governance
ACHIEVEMENTS AND PERFORMANCE IN 2023
The International Office and network continue to implement the 2022-2026 Strategic Plan designed by
the CEO, Management Team and Strategy working group.
In 2023, HI operates its activities under two main teams,. Network and Brand, and Technology SeNices.

REPORT OF THE BOARD OF TRUSTEES {CONTINUED)
NETWORKAND 8RANt)
2023 saw the continuing post-COVID recovery of most Member Associations with travel resuming and
V15itor numbers recovering. In Europe, North America and Australia 2023 was as good a year, if not
better than 2019. In Asia and Africa some travel restrictions remained in place until mid-way through
the year.
HI continued to support the global network by facilitating frequent communication and regional calls,
organising events, running international programmes, and facilitatlng the strategic worktng groups and
Board projects.
As part of our ongoing programme of organisational change, working together with the Brand and
Strategy Working Groups. we have appointed a brand and digital transformation agency, This Brand
Works ITB WI.
TBW 15 helping us modernise our brand and working practices, so that we can meet our beneficiaries
where they are. as digital natives, while also adding value to our MA members by ensuring we
differentiate ourselves in an increasingly competitive global market place.
The intention is to become a more customer focused organisation able to make decisions based on data
and insights. We will clarify and simplify our value propositionls18nd strengthen our positioning by
capitalising on our enviable heritage and global scale. The brand element of the project is expected to
complete by September 2025 and will be launched at an appropriate time that aligns to digital strategv
as it evolves.
Network events
Critical for communication and strong relationships in the network, face to face meetings are important
events organised by HI each year. The European Regional Conference was organised by EUFED
IEuropean Union Federation of Youth Hostel Assotiationsl in Israel in March to gather the Presidents
and CEOS of our European member associations. Several Board Members of HI, together with our CEO,
were in attendance.
In September 2023, HI led the Marketing and Sustainability Forum in Evora, Portugal, where 14 Member
Associations were represented by 28 delegates. Participants collaborated on issues such as marketing
content planning, global partnerships, HI'S digital future, the newly introduced HI standards self-
assessment. the reduction of single-use plèstics, GTPI IGlobal Tourism Plastics Initiative) and the
Glasgow Declaration.
Programmes & Membership
Our global programmes continued with the celebration of the UN International Day of Peace on 21
September with our Soy Hi For Peoce programme with enEagement from 22 Member Association5 and 8
social media reach of over 400k people in the wider hostelling community.

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
In 2023, 10 MAS participated in the Hl-connect exchange programme. A total of 20 participants lof
which 19 were staff members and I was a volunteer) were hosted in a range of hostels from our
network, Whe￿ they had the opportunity to gain a deeper understandin8 and appreciation of a
different culture as well as HI'S mission, values and goals, learn new skills or enhance existing ones. and
share best practiees, innovative ideas, and successful strategies with their colleague5 from different
parts of the world. IOOOA of SLtrveyed participant5 recommend others to participate in Hl-connect,
learned words or expressions in a different language. learned something new about tourism and
hospitality and report having been inspired peisonally and professionally. 77.5% report that their
understanding of their own cultural values and biases was improved by the exchange program. All of the
respondents also claimed that they felt more 'part of the international network of HI" since having
participated.
The HI membership programme continued to benefit over 3 million member travellers across the HI
network with each member association offering discounts at a national level and international discounts
offered by partners of HI. With their membership travellers get access to affordable rates in all HI
hostels and travel related dtscounts. HI continued to sell digital memberships on hihostels.com.
Our member associations also continued to organise programmes for the hostel guests. wtth hundreds
of activities and programmes across the network continuing to offer opportunities to young people of all
means to explore the world and meet new people. Examples of programmes include exchange
programme5, volunteering, civil service, clean.ups, shared meals, free tours and game nights.
Partnerships
Hostelling International collaborates with charitable organisations, youth groups, educational
institutions, and like-minded global brands to advance sustainable tourism initiatives. We are an Affiliate
Member of UNWTO (United Nations World Tourism Organizationl and a recognised organisation within
UNESCO.
We maintain our full membership status in the World Youth Student & Edutational IWYSEI Travel
Confederation. Through WYSE. which brings together key stakeholders in the yOL¢th travel settor and
provides access to a global network, events, and focused research, we actively engage in industry
dialogues. We have attended their industry events such as STAY WYSE in January and WYSTC in
September, fostering connections with stakeholders and exploring potential partnerships.
In 2023, we successfully forged Blobal partnerships with six prominent global brands, enrichin@ travel
experience5 for our guests and diversifying revenue streams for the HI network. Hostelling International
remains committed to promoting sustainèble tourism in collaboration with our esteemed global
partner5.
Sustainability & Quality
HI is actively involved in helping our industry moving forward with the 2030 Sustainable Goals Agenda
and is part of the Global Tourism Plastics Initiative and signed the Glasgow Declaration.

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
We have continued advancing our Hl-Q&S pro8ramme by auditing and certifying or recertifying hostels
in Switzerland, Belgium, Norway and Portugal. In 2023 we had a total of 364 contracted hoste15; 179 HI-
Q certified. 190 HI-Q&S certified and 127 in progress lawaiting audits online or onsite in 20241.
We have continued to monitor the overall guest Satisfaction of the HI network with our partner
ReviewPro and have been pleased to See an overall rating of 82.5% Global Review Index, with a small
increase of 0.2%. We have also continued to develop the software partnership with FORM, our new
platforni that facilitates the audits and self-assessments for both HI Standards and Hl-Q&S.
Thanks to our partners, the criteria for Hl-Q&S is currently translated and available online in 8
languages.. Arabic, English, Finnish. French, German Ipartiall, Portuguese, Romanian and Spanish lin
progress), whilst the criteria for HI Standards is currently available in English and Spanish.
Marketlng
We 5UStained our direct marketing efforts with a monthly newsletter to our 16,000 English subscribers
and social media presence to 140,000 followers across all platforms (Facebook. Twitter, Instagraml.
With the backdrop of an ambitious brand and digital transformation programme, marketing has mostly
continued with business as usual with the notable exception of creating a global content hLtrddle, a space
facilitated by HI for Federation Content Creators to meet monthly, exchange ideas and collaborate on
project5. With the goal of becoming a collective power house in the digital space throu8h shared
amplification and tagging strategies. during 2024 we will launch 2 small user generated content
Campaigns. These will be soft launches designed to nurture the ground with some key messages around
Diversity, Equity, Inelusion, and Belonging IDEIBI and Travel Changing Lives of the Young, in advance of a
new brand platform later in the year.
TECHNOLOGY SERVICES
2023 has been an important year for HI on its transformation. We continued to work with trusted
technology partners 934 and have developed our team with the introduction of a part-time digital
project manager, and part-time digital marketing executive. In 2024, we are working mole closely with
technology specialists across the network and moving toward a more agile approach to working which
will allow us to access specialist resource, and test digital solutions iteratively as we develop a digital
strategy aligned to our strategic objectives.
We continue to collaborate with the Strategy Working Group (consisting of CEOS from several of our
Member Associationsl and Discover Cloud, a technology partner of the Swiss Youth Hostels, to assess
the viability of a digital ecosystem that will connect all Member Associations and refine the customer
digital journey from a global perspective.
The hihostels.com website tontinues to showcase h05tels across the IYHF network, inspire our travellers
to explore the World, provide content on experiences and sustainable travel, and help travellers find
their ideal destination hostel by optimising our search widget. The HI website sends member travellers
directly to our Member Associations, own web51tes for booking but Still offers the opportunity for our

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
travellers to purchase IYHF membership directly from HI. Hostels are featured on the hihostels.com
website with individual pages linking to the Mernber Association's website and booking engine, where
available. This website is being reviewed for its ongoing effectiveness as part of the transformation
programme and our 2025 strategy will be looking at the best way to modernise its function in keeping
with our 5trategv.
A HI global booking engine Proof of Concept is ￿nden￿aY with Australia and Finland Member
Association5. This is the first part of our ambitious transformation programme and the concept has been
well received by Member Associations as a good opportunity to diversify revenue streams and elevate
the customer experience.
GOVERNANCE AND ADMINISTRATION
Board of Trustees
Hoslelling International is a registered charity and company limited by guarantee with no share capital,
managed by a Board of Trustees. The directors of the charitable company are its trustees for the
purpose of charity law and throughout this report are collectively referred to as the trustees. The Board
of Trustees is comprised of up to nine members elected from candidates proposed by HI'S Member
Associations. Board members seNe 4-year terms on a staggered basis meaning that normally only half
of the Board seats come up for re-election at each biennial International Conference. The President
must stand for election at every International Conferenee.
The following trustees served on the date this Annual Report was signed, or during the reporting period..
Name (Nationality)
Posltlon
Perlod of offlce
Abdusalam El Elarabi Abuehmaera (Libyal
Member
Throughout
Alan Bourne IUKI
Treasurer
Throughout
Hussain Ali Alhababi (Qatarl
Member
Throughout
Miguel Perestrello (Portugall
Vice Presider¢t
Throughout
Nicole Sandoval IUSAI
Member
Throughout
Sanni Viirto (Finlandl
Member
Throughout
Sergio Montoya Ruiz De Angulo Ispainl
Member
Throughout
Stephan Kurmann ISwit2erlandl
President
Througho
Uwe Boehm (Germany
Vice President
Throughout
Throughout 2023 and until the date of signing, the executive team was led by CEO Brianda Lopez.

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
Board of Trustees Selection Process
Board members are usually current or former trtsstees or a CEO ol a Member Association and are
required to be nominated to stand for election by either the Member Association of which they are an
individual member or no less than ten other Member Associations. The Board may, but is not obliged to,
rill any vacancies that arise. Elections are held at the biennial conference in accordance with our
Memorandum and Articles of Assotiation and Rules of Procedure for Conference. Each Trustee may
Serve up to 8 years- a maximum of 2 terms of four years each- on the Board and then up to an
additional 6 years13 terms of 2 years each) as President.
Trustee Induction and Trainlng
In 2022. newly elected Trustees attended an indtjction session led by the HI President, Treasurer and
CEO. Our accountant and Independent Examiner, MHA, also provided a short reminder session for all
TrLtstees to outline their duties and responsibilities.
Organlsatlonal and Board Evaluation
The Charity continue5 to work towards complying as far as is prartical with the Charity Governance
Code. At the beginnlnE of 2021 the Board undertook a comprehensive exercise to establish the extent
to which HI was following the Code and where improvements were possible. The study confirmed that
HI had made considerable progress over recent years with implementing good practice. The key areas
which were highlighted as requiring further work were- finalising a new network strategic plan which
better emphasised HI'S charitable purpose,. moderni5ing HI'S Board election process to improve its
ability to attract trustees with the right skillslexpertise and diversity to lead the organisation effectively-
and consolidating/establishing good communication channels with the Member Associattons. The
trustees also undertook a self-asses5ment of how well the Board was fLtnctioning. This concluded that
Ihe Board had become much better focused and more effective since the 2020 conference. The key
issue raised was the poor diversity represented by Board membership, e.g. only one female trustee and
a shortage of younger voices. This was improved by the 2022 elections and is also being addressed by a
'Diversity and Inclusivity, working group as part of the 'HI Aims, pioject. Other highlighted issues such as
a lack of informal discussion and the length of meeting5 resulted from the move to holding most
meetings by video-call. A follow up board evaluation will be conducted in 2025 $0 that progress can be
monitored.
Responsibilities of the Board of Trustees
The role of the Board is governance rather than management. Governance focuses on the wider issues
of the organisation and the establishment and monitoring of policy and strategic direction.
The Board works closely in partnership wlth the Chief Executive Officer ICEOI to ensure that HI'S goals
are achieved.
The 8oard may require the CEO to propose new strategies or revise existing strategies for the Board's
onsideration. Upon approval from the Board, the CEO develops implementation plans and takes the
necessary steps to action them. The Boar¢J meets on a regular basls to examine progress reports and

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
supeNise performance.
The Board gives direction for the overall operations of HI but 15 not directly responsible for the day-to-
day operations of the organisation this is the task of the CEO. The Board, however. has the ultimate
responsibility for the sound management and financial security of HI.
The Board approves the annual budget prior to the beginning of every financial year and sets a
delegation of authority regarding limits on expenditure, contract5 etc.
Trustees. Indemnity Insurance
The charitable company has purchased insurance for the trustees and officers of the charity against
liability arising from Wfongful acts in relation to the charity. The cost of this insurance is not separately
available.
Key Management Personnel Remuneration
The key management personnel of the charity comprise the Board of Trustees and the Chief Executive.
The Trustees do not receive remuneration. The Chief Executive's remyneration is set by the Board and
from tirne to time they take advice from external recruitment agencies regarding whether that
muneration remains appropriate. The Board does not have a formal remuneration policy. The settin8
of the pay and conditions of the staff, other than for the CEO, is delegated to the CEO within the
constraints of the annual budget and HR policv.
Organlsatlonal Structure
At the date of siEnin& HI has thirteen employees of which eight work part-time. This amounts to 9.9
full-time equivalents. At the head of the team is the CEO.
All staff work remotely from home but meet virtualty at least once a week and are brought together for
physical team meetings a few times a year.
Risk Management
HI'S Risk ManageTnent Policy highlights that risk, and its management, is a critical part of the daily
operations of HI'S business. The Policy requires HI to identify and assess risks, maintain a risk register,
and manage and review those risks as part of day-to-day operètions. The Board of Trustees are to
undertake a full review of the Key Risk Register at least annuallv.
The key risks for HI identified in May 2024 were..
Strategic Risk
Inability to unify the Federation around the Nl Strategy and sustainable business model
Insufficient resilience influence and limited capabilities of the IYHF Network to cope with current
and future climate chan8e
Failure to provide sufficient value to Member Associations and end customers.
io

REPORT OF THE BOARD OF TRVSTEES (CONTINUED)
Governance Risk
Existin8 Governance arrangements of HI and/or its Member Associations restrict HI'S efftciency
in making decisions on behalf of the organisation
Operational Risk
Cyber-attack or IT Failure at HI or critical third-party providers.
Data risk lemergingl of future IYHF ecosystem and HI booking engine and membership sales
portal
Financial Risk
Major disruption to international travel le.g. pandemic) or external environment outside HI'S
control.
The Board is actively looking at ways to mitigate the identified risks through the different strands of the
emerging new network strategic plan and associated operational plans.
Gratitude
The Board would like to take this opportunity to express its thanks to all the volunteers and
professionals involved in the international hostelling movement, both those who serve on Member
Association Boards of Trustees and those who help with hostel activities. Without their support and
asS1Stance, the work to deliver the mission of this global organisation could not take place.
Particular thanks go to our Member, Hostelling International Norge whose staff carried out HI Qualitv
and Sustainability audits following training provided by HI Staff. Two weeks of staff time was donated by
Ftl Norge, the value of this time is estimated as £1,594.
Flnance
Total Incoming Resources in 2023 amounted to £633,14912022 £1,578,639), income In the prioryear
included £941,342 in relation to the profit on the sale of the hostel in Lima, Peru. Leaving aside this one-
off income from thè property sale. income decreased by £4.148 year on year.
56% of HI'S 2023 budgeted income153% in 20221 wa5 from membership fees. By the end of 2023, 92%
of the 2022 fees and 90% of the 2023 fee5 had been paid. At the end of 2022, outstanding membership
fees relating to all years amounted to £138.821 this ￿mained at a similar level of £138.418 by the end
of 2023.
Total Resources Expended Ibefore gains and10sses on investments) amounted to £631,80712022
£629,150) representing an increase of 0.4% year on year.
In 2023, no donations-in-kind were received from Google Grants Irepresentino free online advertising
costs). compared to £1,132 received in 2022
Net gains on investment assets were £58,72012022 £83,711 lossl reflecting a welcomed year end
recovery in the money markets.
li

REPORT OF THE BOARD OF TRUSTEES (CONTINUED
The 2023 net movement in funds was a £60,062 increase in reserve5 compared to an increase of
£865,778 in 2022 (following the sale of a property in Lima). Hence HI'5 reserves increased from
£1,499,409 to £1,559,471 during 2023.
Fundraislng
HI has not enEaged in any fundraising activities, or with any professional fund-raisers.
The Charity is not registered with the Fundraising Regulator, did not recewe any complaints during the
vear, and does not interact with vulnerable people through its fundr315ing activities.
Investment Pollcy
Following the sale of the Lima hostel in December 2022, the Board agreed that £800,000 of the
proceeds that HI did not need access to in the short-term should be transferred to our investment
managers, Brewin Dolphin. Later in the year, fees received from Member Associattons were placed on
Short term fixed deposit5 Wlth HSBC, to take advantage of favourable interest rates. During 2023 HI
neither passed surplus cash across to Brewin Dolphin nor needed to sell investments foi cash.
As at the end of 2023, £1,353,85012022 £478,377) was invested with 62% held in equities169% in
20221. 17% in bonds114% in 20221, and 21% In a mix of other investment types117% in 20221-
Hostelling International's investment policy seeks to maintain purchasing power and achieve long-term
capital growth of UK inflation IRPII plu5 3% while operating with an average/moderate risk (Brewin
Dolphin Category 61 tolerance.
In accordance with our mission to build 3 more understanding. tolerant, peaceful. and environmentallv
considerate world described on page 3, HI'S investment policy seeks to be culturally and ethically
sensitive and as such Sc￿en5 out investment in certain types of companies whose activities conflict with
HI'S objects and the environmental principles of HI'S Sustainability Charter. This policy piecludes direct
investment in companies that generate more than IO% of revenues from tobacco, alcohol, nuclear
energy, pornography or armaments.
The yield from dividends in 2023 amounted to £19,0051£10,578 in 20221.
Reserves Policy
The total funds of the charity at 31 December 2023 were £1,559,47112022 £1,499,409>. of which
restricted funds amounted to £12,97512022 £12,8561.
HI'5 Reserves Policy specifies both minimum and maximum levels of "free reseNes' which the
organisation should aim to stay within. Free Reserves are defined as our unrestricted funds less tangible
fixed assets. The lower threshold is set as being the annual operating expenditure- a level (leemed to
be sufficient to withstand the occurrence of any of HI'S high-risk Scenarios as documented in it5 risk
register. The worst-case financial modelling surrounding the effect5 of the pandemic undertaken at the
beginning of 2021 gave us a benchmark. The upper threshold is set at twice the annual operating
12

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
expenditure and aims to Signal the point at which HI may be accumulatin8 reseryes unnecessarily and
hence missing opwrtunities to deliver public benefit in accordance with its mission.
Based on the 2023 budget, the polity sets our L¢pper reserves threshold at £1.3m and the lower
threshold at £657k. At the 2023 year-end, our free reserve5 Stood at £1.5m and hence 16% above the
upper threshold set by the reseNes policy. In 2024, the Board has approved expenditure of up to
£IOO.000 to progres5 HI'S Brand and Digital Transformation Project and continues to ￿VIeW
opportunities that would bring HI'S resetves below the upper threshold.
HI aims to set and athieve a balanced budget each year. We then rely on the capital growth of our
investments over the medium to longer term to 8t least match inflation to maintain the real value of our
reserves and thi5 was achieved in 2023.
Going Concern
In order to confirm that HI is a going concern, the Board has considered what could happen to its
reserves if 'worst-case' scenarios were to materialise. HI'S risk register states our key financial risk is
'major disruption to international travel le.g. pandemic) or external environment outside HI'S control"
Our recent experience of the Covid19 pandemic helpfully Eive5 us a benchmark for what could happen
as well as pointing to what we might do differently in similar circumstances. However, the Board is
mindful that such an event happenin8 so soon after Covid19 could play out differently particularly as the
Member Associations on whom we depend on are, to varying degree5, Still ir5 recovery mode.
In 2021 we received arourtd 75% of the fees due for that year despite most Member Associations havin8
limited trade durfjng the year. If this was to be repeated, we could Cover at least 40% of our core costs
from received fees. leavin8 a shortfall of £350k to fund from reserves. With free reserve5 of at least
£1.5m to cover for tjnpaid fees, this wovld be sufficient to cover budgeted costs for three years even if
the value of investments fell by 25% las happened in 20201. In the extreme scenario of no income from
members, we have sufficient rese￿e$ to cover two years of expet)diture befo￿ allowing for any short-
term savings we might be able to make.
The Trustees agreed that they are satisfied they have a reasonable expectation that the organisation has
adequate resources to continue in operational existence for the foreseeable future and that the use of
the going concern basis of accounting is appropriate in preparing the annual financial statements. The
trustees do not consider liquidity to be a material financial risk as the charitable company has sufficient
funds. represented by accessible fixed term cash deposits, or investments managed by Brewin Dolphin
that can be made available to HI with one week's written notite should reteived income from members
be substanttally lower than expected. Accordingly, the Charity is not aware of any material uncertaintie5
that exist over its ability to continue a5 a going concern.
Plans for the Future
The Board believes HI'S mission and values are more relevant than ever considering the increasing
threat of climate change, political and ideological divisions around the world, and declining mental
health among youth. HI is uniquely placed to SL¢PPOrt on these issues by connecting local communities,
13

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
young people and youth orBanisatior15. and implementing the Sustainable Development Goals. This
emphasises the need to work towards a new strategy and adapt it to the new cÈrcumstances in order to
protert HI and its network and ensure a bright future for hostelling.
In the meantime, HI continues to progress pillars of the 5-year transition strategy that was presented at
Conference 2022 by the Strategy Working Group. StrateEiC projerts and artions undertaken by the HI
office, Board and Member Associations have collectively in 2023. and continuing in 2024. contributed to
one of the following three pillars..
Recovery & Renewal
This strategic area presents a set of priorities designed to help Member Associations and the HI
office collaborate to recover faster from the COVID-19 pandemic and position the federation to
strengthen its role in the travel sector and the delivery our mission in ways valued by young
people, particularly 18 to 30-year-olds seeking to travel.
Brand ￿th a Social Mission IPurposeful Brand)
This strategic a￿0 presents a set of priorities designed to harness the true potential of the HI
brand and showcase a strong brand with a recognized social mission that appeals to young
people, whi15t remaining 'open to all,.
Organisational Services that Increase Hl's Social Impact
This strategic area establishes the priorities for services offered within the HI federation that
support the ability to deliver its mission and achieve a measurable social impart. It includes
services that enable HI to operate as a charitable organization, and optional services that involve
additional fees or commissions to cover their costs.
This strateby and this new HI. aim to do things in a different way together with our members. The key
drivers that will be necessary to ensure successful delThiery of the strategy and a stronger organisation
are, amongst others. collaboration, digital transformation, innovation, a focu5 on young people and a
customer centric approach
In 2023, the Strategy WG met regularly to advance on the key strategic areas and made good progress,
especially, regarding Digitalisation and Brand.
14

REPORT OF THE BOARD OF TRUSTEES (CONTINUED)
The strategy is complemented by a number of Board Projects that are being progressed by Working
Groups led by Boord members, as follows:
HI Aims.. Under the HI values, this project focuses to advance and provide clar¢fication and
understanding around Diversity, Equity, Inclusion and Belonging IDEIBI and to create a pcslicy
and key targets in this area. Thi5 includes progressing the objective of launching a Youth Panel.
Federation Expansion and Membership Concept- A project to look at ways to explore how to
expand our Federation both geographically and through our membership categories. This
projert also aims to identify and identify a new structure for membership fees and voting rights.
l Registered Office- A project to address a Conference motion to investigate the benefits and
disadvantages surrounding moving the registered address of Hostelling International from the
United Kingdom into the European Union and to report its conclusions to the Member
Associations by the 2024 conference at the latest.
HI Conference Criteria: A project focused on delivering a fair and transparent proce55 and
criteria to SUPPOrt the Board of HI selecting future venues for international conferences.
Modernisins Governance- Identifying changes to HI'S governance document5 aimed at
streamlining the organisation's Strategic decision making processes.
The strategy will help HI and the network to evolve and strengthen together as a federation, in an
innovative and collaborative way. Within the Strate￿ there are projects that will be key to the future of
HI such as a new Web Service proposal where digitalisation will play a key role within our federation to
achieve our goals and fulfil the mission. Other key project5 are modernising our governance model,
enhance our programmes and work towards SDGS.
We continue the journey that will help HI navigate the unpredictable, whilst laying the foundations for a
stronger, more relevant, inspirational orBanisation.
The Rekk)rt of the Board of Trustees was approved and signed on behalf of the Board by
Stephan Kurmann
President
22 07 2024
Alan Bourne
Treasurer
22 07 2024
15

TRUSTEES, RESPONSIBILITIES STATEMENT
The trustee5 (who are also direttors of International Youth Hostel Federation for the purposes of
company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generallv
Accepted Accounting Practice) including FRS 102 "The Financial ReportinE Standard applicable in the UK
and Republic of Ireland.
Company law requires the trustees to prepare financial statements for each financial year which give
true and fair view of the state of affairs of the charitable company and of the incoming resources and
application of resources, including the income and expenditure. of the charitable company for that
period. In preparing these financial statements, the trustees are required to..
select su¢table accounting policie5 and then apply them consistentlv-
obse¢we the methods and principles in the Charities SORP (Statement of Recommended Practice),.
make judgments and estimates that a￿ reasonable and prudent-
state whether applicable UK Accounting Standards have been followed- and
prepare the financial statements on the going toncern basis unles5 it is inappropriate to presurne
that the charitable company will continue in business.
The trustees are responsible for keeping adeqvate accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that
the financial statement5 comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom governing
the preparation and dissemination of financial statements may differ from legislation in other
jurisdirtions.
16

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF INTERNATIONAL
YOUTH HOSTEL FEDERATION
Independent Examlner's Report to the Trustees of INTERNATIONAL YOUTH HOSTEL FEDERATION
I'the Charity'l
I report to the charity Trustees on my examination of the a¢¢ounts of the Charity for the year ended 31
December 2023.
Responsibilities and Basis of Report
As the Trustees of the company land also its directors for the purposes of company lawl, you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Act 20061'the 2006 Act'l.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of
the 2006 Act and are eligible for Independent Examination, I report in respect of my examtnation of the
Charity's accounts carried out under section 145 of the Charities Act 20111, the 2011 Act'l and in carrying
out my examination, I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Ststement
Since your charity's gross income exceeded £250,000 your examiner must be a member of body listed in
section 145 of the 2011 Art. I can confirm that l am qualified to undertake the examination because l am
o member of the Institute of Chartered Accountants in England and Wales, which is one of the listed
bodies.
I have completed my examination. I confirm that no matters have come to my attention in connects'on
with the examination giving me cause to believe that in any material respect..
accounts.ng records were not kept irs respect of the Company as reouired by Section 386 of the
2006 Act,. or
the accounts do not accord with those records,. or
the accounts do not comply with the accountin8 requirements of Section 396 of the 2006 Act
other than the requiremet)t that the accounts give a true and fair view which is not a matter
considered as part of an Independent Examination,. or
the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities (applicable to
charitie5 preparing their accounts in accordance with the Financial Reporhng Standard
applicable in the UK and the Republic of Ireland IFRS 10211.
17

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INTERNATIONAL
YOUTH HOSTEL FEDERATION (CONTINUED)
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.
Si8ned..
Dated-
Ja171ay-
Rachel Doyle
ACA FCCA DChA
MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS
MHA is the trading name of Maclntyre Huilson LLP, a limited Itability partnership in Englaftil and Wales
(Tegistered number OC3123131.
18

FINANCIAL STATEMENTS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
(INCLUDING THE INCOME & EXPENDITURE ACCOUNTI
(Note 211
Totsl
Funds
2022
Uniestrlcted
Funds
2023
Restrlcted
Funds
2023
Total
Fund5
2023
Note
INCOME FROM:
Donations
1,171
119
1,290
6.242
Grants received
Charitable activities
598.577
2,382
30.900
598,577
2,382
30.900
615,993
4,382
10.582
Other tradin8 activitie5
Investment income
Other income
98
Profit OD Sale of Property
Total Income
io
941.342
633,030
119
633,149
1,578,639
EXPENDITURE ON:
Raising funds
Investment m8na8ement costs
Charitable activities
805
805
2,023
2,211
7.983
7.983
Network & Brand
443,897
179,122
443,897
179.122
439.996
Web Service5
184.920
Total Resources E¥pended
631,807
631.807
629,150
Net income before investment gains I Ilossesl
1,223
119
1,342
949,489
Net gains / Ilossesl on investment assets
58,720
58.720
183.7111
NEY MOVEMENT IN FUNDS
59,943
119
60.062
865,778
Total funds brought fotward
Total funds carried forward
14. 15
14, 15
1,486,553
1.546,496
12,856
12.975
1,499,409
1.559.471
633,631
1,499,409
All operations are classed as £ontinuin8.
The notes on pages 22 to 33 form part of these financial statements.
19

BALANCE SHEET AS AT 31 DECEMBER 2023
Note
2023
2022
FIXED ASSETS
Tangible fixed asset5
Investments
io
21.440
1.353.850
1,375,290
40.822
478,377
519,199
Total Fixed Assets
CURRENT ASSETS
Stock
Debtors
Cash held for investment
Cash at bank and in hand
2,363
73.322
15,231
197,083
287,999
3.169
85,792
11,095
1,143.59S
1,243,651
li
12
12
Total Current Assets
CREDITORS: Amount5 falling due within one year
13
103,818
263.441
NET CURRENT ASSETS
184,181
980,210
TOTAL ASSETS LESS CURRENT LIABILITIES
1,559,471
1,499,409
TOTAL NET ASSETS
1,559,471
1,499,409
THE FUNDS OF THE CHARITY
Unrestricted funds
General fund
Restricted htnds
14
1.546.496
12.975
1,486,553
12.856
14
1,559,471
1.499.409
The accompanying accounting policies and notes form an integral part of these financial statements.
For the year ended 31 December 2023, the company was entitled to exemption under section 249alll of the
Companies Act 1985. No members have required the company to obtain an audit tsf its accounts for the ye3r in
question in accordance wilh section 249bl21.
The members acknowledge their responsibility for..
lil Ensurin8 the company keeps accounts records which comply with section 221. and
lill Preparing accounts which give a true and fair view of the state of affairs of the company as at
the end of its profit and loss for the financi31 year in accordante with section 226. and which
otherwise comply with the requÉrements of the Cornpanies Act relating to accounts so far as
applicable to the company.
Approved and authorised for Issue on behalf of the Board of Hostelllng Internatlonal (Company number.,
022507061 by
Stephan Kurmann. President
Alan 8ourne, Treasurer
Approved by the Board of Trustees on Monday 22 July 2024
20

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Net cash flows from operating activities
1152,3101
128,717
Cash flows from investing activltles:
Investment income received
Proceeds from sales of fixed assets
Purchase of property, plant and equipment
Proceeds frorn sale of inv8strnent5
Purchase of investments
Net cash flows from investin8 actlvltles
30,900
10.582
957,141
146.1661
119,011
1143.4971
897,071
14,2131
525,153
11,341,906)
1790.0661
Net Increase I Idecreasel In cash and cash equlvalents
1942,3761
1,025,788
Cash and cash equivalents at beginnlng of year
1,154.690
128,902
Cash and cash equivalents at the end of the year
212.314
1,154,690
Being:
Cash held for investment
Cash at bank and in hand
15,231
197,083
212,314
11,095
1,143.595
1,154,690
Reconciliation of net expenditure to net cash flow from operating activities
2023
2022
Net Èxpenditure as per the statement of financial activities
60,062
865.778
Adjustments for..
Depreciation charge5
IGainl on di5ptss31 of fixed assets
Losses / Igainsl on investments
Dividends, interest and rents from investments
Decrease in stocks
Decrease / lincreasel in debtors
Increase / Ide¢reasel in Creditors
IDecreasel l increase in provisions
23,595
9.824
1941,4401
83.711
110,5821
2,023
132.955
67,448
181.0001
158.7201
130,9001
806
12,470
1159,6231
Net cash flows from operatlng actfvitle$
1152,3101
128.717
The Charity did not have any net debt at eiiher the current or prior year end and as such is not disclosing an
analysls of movements In net debt table.
21

NOTES TO THE FINANCIAL STATEMENTS
I. PRINCIPAL ACCOUNTING POUCIES
Hostelling International. a public benefit entity, is registered in England & Wales as a private company limited
by guarantee, not having shale capital. The charity is a registered charity. The registefed office is gsven on page
34.
al Financial Statements The financial statements are prepared under the historical cost convention, in
accordance wlth the Statement of Recommended Practice -Accounting and Reporting by Charities ISORPI-
applicable lo charities preparing their accounts in accordènce with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021, as updated, effective from l January 2019, the
Charitles Aci 2011,. and the Cornpanies Act 2006.
The principal accounting policie5 are Set out below and remain consistent under the new framework from
the previous year.
Hgstelling International has a wholly owned subsidiary. Hostelling Intematiofial Trading Limited, which has
remained dormant since its incorporation and as such the accounts have not been prepared on
consolidated basis.
The financial statements have been presented Sterling and all figure5 have been rounded to the nearest
pound.
bl Going concern These finanual statements have been prepared on the 8oin8 concern basis. The Trustee5
have performed a robust analy515 of forecast future cash flows for the period up to the end of December
202S. which the Trustees consider to be the realistic foreseeable future, taking into atcount the potentlal
Impact on the business of possible futuie scenarios. This analysi5 also considered the effectivenes5 of
vailable measures to a551St in rnitigating the impact. Based on these assessments and realistic worst-case
stenari95 and having regard to the liquid resources avallable to the entity, the TTustee5 have concluded
that there is no materi41 uncertainty and that they can continue to adopt the going concern basis in
preparing the annual report and accounts. Further details of this a55e5srllent can be found on page 13 of
the Trustees report.
cl Fixèd A55ets Fixed assets are stated at cost less any impairment. Depreciation is calculated by reference
to the cost or valuation tsf fixèd 35sets at rates constdered appropriate, having regard to the expected lives
of the fixed assets.
Website developmènt costs in ex¢e5s of £500 are capitalised at cost and depreciated in equal
annual in5talments over 2 years.
Freehold buildings are depreciated in equal annual instalments over 40 years from the date of
acquisitlon. Prior to the implementation of FRS 102, the Company had revalued the Peru property
to its open market value. Under tran51tional rules of FRS 102. the Company has retained this
previously revalued book amount.
Leasehold improvements are depreciated in equal annual instalments over 3 years and are fully
depreciated.
Office equipment costing more than £500 is capitalised at cost and depreciated in equal annual
instalrnent5 over 4 years.
dl Stocks Stock5 are valued at the lower of cost 01 net realisable value.
22

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
I. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)
el Foreign Currencies Assets and liabslities denominated in ftsreign turrencies are translated at the rate of
exchange ruling at the balance sheet date. Income and expenditure in forei8n currencies are recorded at
the exchange rate ruling at the date of the transaction.
Pension Costs The charitable company'5 contributions to employees, defined contribution schemes are
har8ed to the Statement of Financial Activity for the year in which they are payable to the scheme.
gl Fund Accounting Funds are accounted for as follows:
Restricted funds are used for specific purposes laid down by the donor. Expenditure for these
purposes Is Charged to the fund.
Unrestricted funds are other incoming resources received or generated for expenditure on the
general objectives of the charitable companv.
Designated funds are unrestricted funds whlch have been designated for speclfic purposes by the
trustees.
h) Myclimate funding As part of HI'S sustainability activities, part Of the voluntary donation received to oftset
the Carbon footprint of the traveller is paid over diiectly to myclimate who invest in sustainability projects.
Both incorne and expense are recognised in respect of this transaction.
il Investmènts Investment5 are reco8nised initially at fair value which is normally the transaction piice
excluding transaction costs. Subsequently. they are continuously measured at fairvalue with changes
recognised in 'net gains / Ilossesl on investments, in the statement of Financial Activltles, if the shares are
publicly traded or their fair value can otherwise be measured reliably. As investment5 are continuouslv
revalued there are no realised gains or losse5 recorded. Investment income is accounted foi in the period
in which the charitable company is entitled to receipt. Cash held within the investment fund is considered
for available use and is included within tash. The investmènt in the subsldiary is held at cost.
jl Pro8ramme Related Investments loans are made at arm's length to Member ￿SOCIatIOnS to support key
hostel projects. Interest is charged at commerci31 rates and recognised as income when received.
kl Resources Expended Resources expended, including termination payments, are accounted for on an
a¢¢ruals basls. Expenditure 15 apportioned to activity cate8ories. based on headcount. In 2020, HI
rebranded its activities under two umbrella headings.. Network and Brand, and Web Services. to better
reflect the key focus areas for the restructured organisations.
11 Resource5 are allocated between=
Expenditure on 5UPPOrtin8 Member A550Clations in their delivery of the mission
Expenditure on maintaining and developing our Web Services, includin8 hihostels.com, digital
membership and affiliate products for Mernber Associations
Expenditure incurred in the Eovernance, management and administration of the charity is
Ilocated tts the èbove categories on a per capita ba5is1see Note 41. No such costs are currently
allocated to grants or raising funds on the grounds of materiality. Gcsvernance expenditure
includes costs assoclated with Board of Trustees, Meetings, Officers, Meetings, biennial
international conference, annual report and independent examination.
23

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
I. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)
ml Income
Income from donatlons includes..
Voluntary donations to the HI Sustainabllity and Myclimate funds at the time of bookin& which
are recogni5ed when the booking is made
oiher donations and legacies, which are recognlsed when It Is probable ihat the income will be
received
Income from charitable activities includes..
Membership fees and conference fees from Member A550ciations. which is accounted for on a
receivable basis
Revenue from the hihoste15.com website (deposits in respect of bookings, booking fees and
cornmissions on the sale of emembershipsl, which is recognised when the booking is made.
Income from other trading activities includes sales of welcome stamps and other merchandise to Member
Association5, which is accounted for on a receivable basis.
Income from investments is lecognised when receivable.
n) Leases Lea5e5 are classified as finance leases whenever the terms of the lease transfer substantially all
risks and rewards of ownership of the leased asset to the group. All other leases are cla551fied a5 operating
leases.
A5set5 held under finance leases are recognised initièlly at the fair value of the leased a55et lor, If lower.
the present value of minimum lease payments) at the inception of the lease. The corresponding liability to
the lessor is included in the statement of financial position as a finan￿ lease obligation. Lease payments
are apportioned between fifian￿ charges and redurtion of the lease obligation on a 5traight-line basis as
therè 15 an irnmaterial difference to Using the effective interest method Iwhlch achieves a constant rate ol
interest on the remainine balance of the liabi1ityl. Finance charges are deducted in measuring income and
expenditure. A%5et5 held under finance lease5 are included in tangible fixed assets and depreciated and
assessed for impairment losses in the same way as owned assets.
Payments made under operating lease5 are recognised in the Statement of Financial Activities on straight
line basis over the term of the lease.
24

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
I. PRINCIPAL ACCOUNTING POLICIES (CONTINUED
ol Provisions Provisions for future expenditure to return leased property to the same condition as it was at
the start ol the lease at the expiry of the property lease. as required by the terms of the lease. are made
using benchmark figufes from the Royal Institute of Chartered Surveyors to reach a reasonable estimate.
pl Taxation As a registeled charity. Hostelling International is exernpt from taxation on it5 income and 8ain5
fallin@ due within pèrt 11 of the Corporation Taxation Act 2010 and s256 Taxation of Chargeable Gains Act
1992 to the extent that these are applied to its charitable purposes. No tax charge has arisen in the year
ended 31 December 2023.
ql Grants Grant5 payable from the Sustainability Fund are recognised in the Statement of Financial Activities
when awarded and communicated to the recipient.
rl Fin3ncial instruments The Charity only hold5 basic Financial Instruments. The finanoal assets and
financial liabilities of the Charity are as follows..
Debtors- tTade and other debtors lincluding accrued income) are financial instruments and are debt
instruments measured at amortised cost as detailed in note 11. Prepayments are not finantial
instruments.
Ct75h ot bank- is classified as a baslc financial instrument and is measured at face value.
Liabilities- trade creditors. accruals and other creditors are classified as financial instruments, ènd are
measured at amortised cost as detailèd in note 13. Taxation and social security are not included in the
financial instrument5 di5£195ure. Deferred income is not deemed to be a financial liability, a5 in the cash
settlement has already taken place and there is simply an obligation to deliver services rather than cash
or another financial instrument.
sl Crltical accountlng judgements and key sources of estimation untertalnty In the application of the
charitable company's accounting policies described above the Trustee5 are required to make judgements,
estimates and a$5umptions about the carrying amounts of assets and liabilities that are not readily
apparent from other Sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates. The estimates and underlying assumpt*ons are reviewed on an ongoing basis. Revisions to
accounting estimate5 are recognlsed in the perlod in which the estlmate is revised if the revlsion affecis
only that period. or in the pèriod of the revision and future period5 if the revision affects bgth current and
futyre periods. The Trustees are not aware of any critical judgements or source5 of estimation uncertainty
requiring disclosure beyond the accounting policies listed above.
tl Donated professional serv1￿5 are recognised as income when the charity has control over the item. any
conditions associated with the donated itern have beÈn met, the Tecelpt of economic benèfit from the use
by the charity of the itern is probable and that economic benefit can be measured reliably. In accordance
with the Charities SORP IFRS 1021. general volunteer time is not recognised.
On receipt. donated professional servSces are recognised on the basis of the value of the Bift to the charity
which is the amount the ¢harTrty would have been willing to pay to obtain service5 of equivalent economic
benefit on the open market,. a coriesponding amount is then recognised in expenditure in the peiiod ol
receipt.
25

NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
2. INVESTMENT INCOME
2023
2022
Dividends on listed equitie5
Interest on listed securities
Interest on other interest-bearing account5
19.005
9.IS6
2,739
30,900
7.594
2.985
10,582
3. INCOMING RESOURCES FROM CHARITABLE AcfiviTIES
2023
2022
Membership Fees
Booking Revenue
Other fees from members
Other income
340.841
358,563
54,900
199,232
3,298
615.993
251,990
5,746
598.577
Attributable to 8eographical markets Outside the UK
526,509
554,861
4. RESOURCES EXPENDED- CHARITABLE ACTIVITIES & SUPPORT COSTS
2023
2022
Dirert
Costs
Support
Costs
Olrect
Support
Costs
Total
Costs
Total
Network & Brand
fjiants awarded
Staff costs
Fècilities & equipment
Professional services
Travel & subsistence
Depreciatiort
Other
Total Network & Brand
463
149.770
53
463
169,018
58
142,067
7,721
14,368
12,967
839
40,241
218.203
311,085
7.779
14.368
31,054
839
78,772
443,897
129,412
13,8471
30.449
8.250
8,130
27.366
199,760
279,182
13,7941
36,631
72,904
8.130
46,480
439,996
6,182
64.654
18.087
38,531
19.114
240,236
225,694
Web Seryice5
Staff costs
Facilities and equlpment
Professional serwices
Travel and subsistence
Depreciation
Other
Total Web Service5
80.211
38,477
2.091
3,891
3.512
227
10.899
59.097
118.688
2,091
3,945
4,247
22.756
27,395
179.122
70.908
26,961
18021
6,343
1,719
1.694
5,701
41.616
97,869
18021
6,343
1,792
1,694
78,024
184,920
S4
735
22,529
16,496
120,025
73
72.323
143.304
Totsl expenditure on charitable activit￿5
345,719
277,300
623.019
383,540
241,376
624,916
2022= The negative 'Facilitie5 and equipment" costs arlse due to the refund received of Business Rates for the year 10 31 March
2022.
26

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
4. RESOURCES EXPENDED- CHARITABLE ACTIVITIES & SUPPORT COSTS {CONTINUEDI
Analysls of Support Costs
2023
2022
Network
& 8rand
Web
Netwok*
& Brand
Web
Ser¥lces
Services
Total
Totsl
Governance
Managernent
Finance, IT. HR
Facilities costs
10,147
69.071
135,012
3,973
218.203
2.748
18.707
36,566
1,076
59,097
12,895
87,778
171.578
5,049
277,3tKI
16,832
70,084
117,279
14,4351
199,760
3,507
14,601
24,432
19241
41,616
20,339
84,685
141.711
15,3S91
241,376
Support costs are allocated pro rata on the basis of full-tlme equlvalent headcount.
5. STAFF COSTS
2023
2022
Gros5 Salaries
Social security costs
Terminatlon costs
367.495
30,276
318.700
28,282
Pension costs
23,278
421.049
22,301
369,283
Health costs
Other costs associated with employees
5,138
3,586
429.773
4,655
3,113
377,051
In 2022 and 2023 no Termination costs were incurred.
No. In 2023
No. In 2022
Employees whose emoluments were between:
£60,000- £70,0(10
Contributions paid by Hostelling Internatlonal into employees, Èndivldual pènsion schemes for the employees
whose emolument5 were above £60,000 amounted lo £4,67612022'. £4,326).
The key management personnel of the charity cornprise the Trustees and the Chief Executive. The Trustee5 do
not receive remuneration. The Chief Executive's remuneration is set by the Tiustees and from time to time
they take advice from external recruitment agencies. In 2023 the total rernuneration for the Chief ExeEutive
durÈng the year was £79,77612022.' £74,095).
27

NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
5. STAFF COSTS {CONTINUEDI
The number of employees durlng the year, analysed by function, was:
No. In 2023
No. In 2022
Full Time
Equivalent
Full Time
Equivalent
Average No.
Average No.
Network & Brand
Web Services
Support Costs including management
li
io
6. TOTAL EXPENDITURE included:
2023
2022
Depreciation
Fees payable to the company's auditor..
For the audit of the company'5 annual accounts
Under accrual for 2021 audit services
Independent Exarninaiion
Rentals under Operating lease5
Foreign exchange losses
Cost ofstock recognised as an expense
23,595
9.824
17,500
750
4,250
19,159
2,562
2,023
8,244
806
7. TRUSTEES, EXPENSES
The trustees who served during the year are shown on page 8. No trustee received remuneration durin8 2023
12022- Nil). Travel and other expenses reimbursed to the trustees during the year amounted to £6.75612022
£2,089). In 2023. 6 trustees received reimbursed expenses12022.. 41.
8. LEASING COMMITMENTS
HI relinquished its leased office at the end of March 2022 meaning its operating lease commitments ceased to
exist on 31 March 2022.
9. INVESTMENTS
2023
2022
Securitie5
Fair value at I january
Acquisition5 at cost
Disposals at carrying value
Net Ilosse5118ain5 in the year
Fair value at 31 Oecember
478.376
1,341,906
1525,1531
58.720
1,353,849
537,601
143.497
1119,0111
183,7111
478.376
Investment in Subsidlary
Share in wholly owned subsidiary lat costl (note 161
Total Investments
1.353,850
478,377
28

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
9. INVESTMENTS (CONTINUED)
Analysis of investments by type
2023
2022
8onds
Equit*es
Other Investments
Investment in subsidiary
236,549
925,915
191.385
65,581
332,218
80.577
1,353,850
478,377
The value of securities shown in the Balance Sheet is the market value at 31 De￿mber 2023. The historical
costs are shown below..
2023
2022
Historical cost at 31 December
1,297,065
484,385
10. TANGIBLE FIXED ASSETS
Website
Development
Costs
Freehold
Land and
Buildin
Leasehold
rovements
Offlce
Total
Cosl or valuation
At l January 2023
Additions
Disposals
45.058
10,163
4,213
55,221
4,213
At 31 December 2023
45.058
14,376
59.434
De
tia
lon
At l January 2023
Provided for in year
Di5P05a15
5,546
22.529
8,853
1.066
14.399
23,595
At 31 Oecember 2023
28.075
9,919
37,994
Net Book Value
At 31 December 2023
16.983
4,457
21,440
At 31 December 2022
39,512
1,310
40,822
Development costs of the new hihostels.com website that were capitsli5ed in 2022, are being depreciated
over a 2 year period.
29

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
11. DEBTORS
2023
2022
Member Associations
Other debtors
Prepayments and accrued Income
46,397
7.936
18,989
73.322
54.008
12,249
19,535
85,792
12. CASH AT BANK AND IN HAND
2023
2022
Cash held for investment
15.231
11,095
2023
2022
Current accoonts
196,531
552
1.143,020
575
Petty cash
197,083
1,143.595
13. CREDITORS: AMOUNTS FAWNG DUE WITHIN ONE YEAR
2023
2022
Member Associations
Trade creditors
Amounts owed to 5ub5idiary underlakings
Other taxes and social security
Other creditors and atcruals
Grant award creditor
30,249
16,009
31.882
55,326
7.035
37,250
13.274
103,818
14.496
148,462
13.274
263,441
Included in Other creditors and accruals is a balance of £nil12022= £2.6641 relating to C02 offset donations
received, under an agreement wlth Myclimate. Donations of £2,664 weie paid to My¢limate during the year
12022 £nill.
The grant award creditor relates to grants awarded but not yet paid from the HI Sustainability restrlcted fund.
Grants are pald on the completion of the project. Further details are shown below.
2023
2022
Grant5 awarded In 2015..
HI l¢eland
7,000
7,OLX)
Grants awaTded in 2019: YHA Israel
3.085
3,085
Grants awarded in 2020..
Hostelling International- Canada
Hih05te15 Brasil
2,126
1,063
13.274
2,126
1,063
13,274
30

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
14. FUNDS
Restricted
Funds
2023
General Fund
Total Funds
Balance at 31 December 2022
Incoming resour￿5
Expenditure
Net losses on investment aS5et5
8alance at 31 December 2023
1,486,553
633,030
1631,8071
58,720
1.546.496
12,856
119
1,499.409
633,149
1631,8071
58,720
1.559,471
12.856
Restrlcted
2022
General Fund
Funds
Total Funds
Balance at 31 December 2021
621,754
1,620,191
1671.681
183.7111
1,486.553
11,877
1,442
14631
633,631
1,621,633
1672.1441
183,7111
1,499,409
Incoming resources
Expendituie
Net gains on investment assets
Balance at 31 Oecember 2022
12.856
In 2012. Hostelling International launched the Sustainability Fund on hihostels.com to enable HI customers to
make a donation to offset the C02 of their overnight stay. Part of the donated Bmount is passed to Myclimate
for carbon offsetting projects. The other part of the donation is held within a restricted fund by HI to be
expended as grants to Member Associations to support their sustainable projects. Mo grants were paid during
the year12022'. Grants totallin8 £1,063 were paid related to grant awards in 20201. See note 13.
15. ANALYSIS OF ASSETS BETWEEN FUNDS
Unrestrlcted
General
2023
Restricted
Total funds
Tangible fixed assets
Investments
21.440
1,353.850
287.999
1116,7931
1,546.496
21,440
1.353.850
287,999
1103,8181
1,559.471
Current assets
Current liabilitie5
Total net assets
12,975
12.975
Unrestricted
2022
General
Restritted
Total funds
Tangible fixed assets
Investments
40,822
478,377
1,243,651
1276,2971
1.486,553
40,822
478.377
1.243,651
1263,4411
1.499.409
Curreni assets
Current liabilities
Total net assets
12,856
12,856
31

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
16. RELATED CHARITIES
International Youth Hostel Federation
The directors consider that the International Youth Hostel Federation, an unincorporated charity registered
with the Charity Cofflmission for England and Wales Inumber 3060381. is a related charity by vlrtue of the fact
that both charitie5 have the same trustees. IYHF Is dormaftt wlth no tfansa¢tions during the year12022- Nill.
Hostelling International Trading Limited
Hostelling International Trading Limited Icompany number 090195641 was registered and incorporated in the
UK on 30, Aprll 2014 and 15 a wholly owned subsidiary of Hostelling International. Hostelling International
Trading Limited ha5 been dormant since Incorporation. The registered office 1$ 7 Bell Yard, London, WC2A 2JR.
17. LEGAL STATUS
The charity is limited by guarantee and has no share capltèl. Each rnemberfs liability is limited to £1.
18. RELATED PARTY TRANSAcfioNS
Other than the transactions detailed in notes 5, 7 and 16 above. there were no related party tiansactions in
either year. Transactions with Mernber Associations that have representatives on the HI Board do not
represent related party transactions.
32

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
19. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (INCLUDING
THE INCOME & EXPENDITURE ACCOUNTI
Unrestrlcted
Funds
Restrlcted
Funds
2022
Total
Funds
ote
2022
2022
INCOME FROM-
Donations
4,800
1,442
6,242
Grant5 received
Charitable ac¢ivities
615.993
4,382
615,993
4,382
10.582
Other trading actlvities
Investment income
10.582
98
Other income
98
Profit on Sale of Propertv
Total Income
io
941.342
941,342
1,577,197
1.442
1,578,639
EXPENDITURE ON..
Raisin8 funds
Investment management costs
Charitable activities
2.023
2.211
2,023
2,211
Network & Brand
439,533
184,920
628.687
463
439,996
184.920
Web Service5
Total Resources Expended
463
629,150
Met incomellexpenditurel before investment gains /1105se51
948,510
979
949,489
Net Ilossesl/Bains on investment assets
183.7111
183,7111
NET MOVEMENTIN FUNDS
864,799
979
865.778
Total fund5 brought forward at l January 2022
Total funds carried fofward at 31 December 2022
14, 15
14, 15
621.754
1,486,553
11.877
12.856
633,631
1.499,409
33

REGISTERED OFFICE AND PROFESSIONAL ADVISORS
Registered Office
7 Bell Yard
London
WC2A 2JR
Bankers:
HSBC
Howardsgate
Welwyn Garden City
Herts
AL8 68H
Independent Examiners:
MHA
MHA House, Charter Court
Phoenix Way
Swansea Enterprise Park
Swansea
SA79FS
Investment Bankers:
Brewin Dolphin
12 Smithfield Street
London
ECIA 9BD
Solicitors:
Russell-cooke LLP
2 Putney Hill
London
SW15 6AB
Trademarks:
Mijrgitroyd
Arena Point
Merrion Way
Leeds
LS2 BPA
VAT:
Constable VAT Consultancy
12 Dedham Vale Busines5 Centre
Manningtree Road
Essex
C07 6BL
34

MEMBER ASSOCIATIONS
COUNTRY
ALGERIA
AUSTRALIA
AUSTRIA
AUSTRIA
BAHRAIN
BELGIUM
BELGIUM
BOLIVIA
BOSNIA & HERZEGOVINA
BRAZIL
CANADA
CHILE
CHINA
CHINESE TAIPEI
CROATIA
CZECH REPUBLIC
DENMARK
EGYPT
ENGLAND & WALES
FINLAND
FRANCE
ASSOCIATION
Federation Algérienne des Auberges de Jeunesse
YHA Australia
OsterreichischerJugendherbergsverbat)d Hauptverband IOJHVI
Osterreichisches Ju
endherbergswerk IOJHWI
Bahrain Youth Hostels Society
Les Auberges de Jeunesse (L￿)
Vlaamse Jeugdherbergen vzw IVJHI
Hostelling International Bolivia
Youth Hostel Association of Bosnia and Herzegovina
HI Hostel Brasil
Hostelling International- Canada
Asociacion Chilena de Albergues Turi5ticos Juveniles
YHA China
Chinese Taipei Youth Hostel A550ciation
Hrvatski Ferijalni i Hostelski Savez (Croatian YHAI
Czech Youth Hostel Association ICZYHAI
DANHOSTEL
Egyptian Youth Hostels Association
YHA England & Wales
Suomen Hostellijarjesto- HI Finland
Féderation Unie des Auberges de Jeune55e IFUAJI
DJH Hauptverband
HonE Kong Youth Hostels Association
HI Iceland
Youth Hostels Association of India
Hostelling Ir)ternational-Northern Ireland
An Oi8e Ilrish YoL¢th Hostel Association)
Israel Youth Hostels Association
Associazione Italiana Alberghi per la Gioventu IAIGI (Until May 20241
Japan Youth Hostels Inc
Jordan Youth Hostels Commission
Hostelling International Korea
Kuwait Youth Hostel Committee
Lebanese Youth H05tels Federation
Libyan Youth Hostel A5SOClation
Centrale des Auberges de Jeunesse Luxembourgeoises
HI Malaysia
NSTS Hostelling International
Féderation Royale Marocaine des Auberges de Jeunes
Stayokay
YHA New Zealand
Norske Vandrerhjem- HI Norway
Pakistan Youth Hostels Association
Youth and Student Hostel Foundation of the Philippines
Polskie Towarzystwo Schronisk Mlodzie20
ch IPolish YHAI
GERMANY
HONG KONG
ICELAND
INDIA
IRELANO (Northernl
IRELAND (Rep of)
ISRAEL
ITALY
JAPAN
JORDAN
KOREA Isouthl
KUWAIT
LEBANON
LIBYA
LUXEMBOURG
MALAYSIA
MALTA
MOROCCO
NETHERLANDS
NEW ZEALAND
NORWAY
PAKISTAN
PHILIPPINES
POLAND
35

MEMBER ASSOCIATIONS (CONTINUED)
COUNTRY
PORTUGAL
ASSOCIATION
MOVIJOVEM Imobilidade Juvenil Cooperativa de interesse Publico e
Respon5abilidade Lda.)
Qatar Youth Hostels Association
Romanian Hostellin
Association for Hiking and Youth Hostels
Saudi Arabian Youth Hostels Association
SYHA Hostelling Scotland
Ferijalni i Hostelski savez Srbije (Youth Hostels Association of Serbial
Popotnisko zdrulenje Slovenije (Hostelling International Slovenial
Red Espanola de Alber8ues Juvenile5 IREhJl
Sudanese Youth Hostels Association
Sven5ka Turistforeningen (Until September 20221
Schweizer Jugendherbergen
Association Tunisienne des Auberges de Tourisme de Jeunes
UAE Federation for Yo¢Jth Hostel & Sports
Asociacion de Alberguistas del Uruguay
Hostelling International USA
QATAR
ROMANIA
SAUDI ARABIA
SCOTLAND
SERBIA
SLOVENIA
SPAIN
SUDAN
SWEDEN
SWITZERLAND
TUNISIA
UNITED ARAB EMIRATES
URUGUAY
USA
HI Assoclate Organisations
COUNTRY
GREECE
ASSOCIATION
Greek Youth Hostels Association
36