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## 

|Registeredoffice|YMCAThamesGatewaY<br>RushGreenRoad|
|---|---|
||Romford|
||Essex|
||RM7OPH|
|Auditor|HW FisherLLP|
||AcreHouse|
||11-15 WilliamRoad|
||London|
||NW13ER|
||UnitedKingdom|
|Bankers|National WestminsterBankPLC|
||10South Street|
||Romford|
||Essex|
||RMl1RD|
|Solicitors|Bates Wells|
||10 QueenStreetPlace|
||London|
||EC4R1BE|
|Investmentmanagers|BarclaysBankPlc|
||1ChurchillPlace|
||London|
||E14sHP|





## 

||Page|
|---|---|
|CEOand Chairman's report|4|
|Trustees' and Directors' report|5-24|
|Trustees' responsibilities statement|25|
|Independentauditor'sreport|26-29|
|Income and expenditureaccount|30|
|Balance sheet|31|
|Statementofchangesin equity|32|
|Statement ofcashflows|33|
|Notestothefinancial statements|34-51|





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YMCA THAMES GATEWAY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF YMCA THAMES GATEWAY
state to the company's members those matters we are required to state to them in an auditorfs
report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyclne other than the company and the company's members, as a
body, for our audlt work, for this report. or for the opinions we have formed.
Sailesh Mehta (Senior Statutory Auditor)
For and on behalf of HW Fisher LLP
Chartered Accountants
statutory Auditor
Acre House
11-15 Williarn Road
London
NWI 3ER
United Kingdom
29

## 

## 

## 

||||202L||zfJzfJ|
|---|---|---|---|---|---|
||Notes|E|E|E|E|
|Income|3||6,465,r27||6,269,962|
|Costofsales||||||
|Pensionrevaluationcharge<br>Other||(277,763)<br>(4,648,674)||(4,605,863)||
||||(4,925,857)||(4,605,863)|
|Grosssurplus|||7,539,270||!,664,099|
|Administrativeexpenses|||(1,882,303)||(1,835,839)|
|Operatingdeficit<br>Deficit beforepension|4|(65,870)||(777,740)||
|revaluationcharge<br>Pensionrevaluationcharge||(277,163)||||
||||(343,033)||(77 7,740)|
|Interestreceivableandsimilar||||||
|income|7||44,644||60,o7L|
|Interestpayable and similar<br>expenses|8||(69,756)||(60,318)|
|Fairvalue gains andlosseson<br>fixed asset investments|9||306,390||(203,8L7)|
|Fairvaluegainsandlosseson<br>investmentproperties|13||10,000||61,000|
|Deficitbeforetaxation|||(51,755)||(314,804)|
|Taxon deficit|11|||||
|Deficitforthe financialYear|||(51,755)||(314,804)|





## 

## 

## 

||||2fJ2L||2fJ2()|
|---|---|---|---|---|---|
||Notes|E|E|E|E|
|Fixedassets||||||
|Tangibleassets|L2||17,285,O20||14,679,487|
|Investmentproperties|13||580,000||570,000|
|Investments|L4||r,686,629||L,384,852|
||||19,557,649||16,634,339|
|Current assets||||||
|Stocks|15|8,257||6,805||
|Debtors|16|567,47t||395,014||
|Cashatbank andinhand||26r,rst||7,904,349||
|||836,879||2,306,L68||
|Creditors: amountsfallingdue|L7|(1,532,886)||(7,502,407)||
|Netcurrent (liabilities)/assets|||(696,007)||BO3,76L|
|Total assetslesscurrentliabilities|||18,855,642||17,438,700|
|Creditors:amountsfallingdueafter||||||
|morethanone year|18||(3,243,885)||(r,774,588)|
|Deferredgrants|20||(2,I07,500)||(2,r07,5O0)|
|Net assets|||13,504,257||13,556,012|
|Reserves||||||
|Restrictedfunds|23||14,387||4<br>30<br>7|
|Revaluationreserve|24|4,429,5O9||4,532,52r||
|Otherreserves|25|7,47!,3L7||9,368,638||
|Income and expenditureaccount||7,589,O44||(349,877)||
||||13,489,870||73,55r,282|
|Members'funds|||73,504,257||13,556,012|





## 

## 

## 

||Restricted|Revaluation|Designated|Designated|Incomeand|Total|
|---|---|---|---|---|---|---|
||funds|reserve||funds|expenditure||
||E|E||E|E|E|
|Balanceat1April2019|7,525|<br>4,635,533||7,789,35r|L,438,407|13,B70,B166|
|Year ended31March2O2O|||||||
|Deficitandtotalcomprehensive|||||||
|incomefortheyear<br>Other movements|(2,795)|(103,012)||-<br>(312,009)<br>r,579,287(r,476,275)||(314,804)|
|Bafanceat 31March2O2O|4,730|<br>4,532,52r||9,368,638|(349,877)|<br>13,556,012|
|Year ended 31 March2O2L|||||||
|Deficitandtotal|9,657||||(6L,472)|(51,755)|
|Other movements||(103,012)||(r,897,32r)|2,000,333||
|Balanceat 31March2OZL|74,3874,429,509|||<br>7,47r,377|<br>7,589,044|13,504,257|





## 

## 

## 

||||202L|||2(J2r)|
|---|---|---|---|---|---|---|
||Notes|E||E|E|2|
|Cashflowsfromoperating|||||||
|activities|||||||
|Cash(absorbedby)/generatedfrom|||||||
|operations|28||(80,1|56)||2,725,929|
|Interestpaid|||(r8,476)|||(e7s)|
|Net cash(outflow)/inflowfrom|||||||
|operatingactivities|||(98,632)|||2,724,954|
|Investing activities|||||||
|Purchaseof tangible fixedassets||(2,923,574)|||(r,6L2,645)||
|Cashfrom investmentportfolio||44,644|||6L0,077||
|Net cash usedininvesting|||(2,878,870)|||(7,002,574)|
|Financingactivities|||||||
|Proceedsfromborrowings||1,584,305|||2OO,975||
|Repaymentofborrowings||(LL4,347)|||||
|Paymentofpension obligations||(135,654)|||(131,701)||
|Net cash generatedfrom|||||||
|financingactivities|||r,334,3O4|||69,274|
|Net(decrease)/increase incash|||||||
|and cashequivalents|||(1,643,198)|||L,79r,654|
|Cashandcashequivalents at|||||||
|beginning of year|||1,904,349|||LL2,695|
|Cashandcashequivalentsatend<br>of year|||26t,r5r|||L,go4,34g|





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## 

|Fortheyearended31M|arch2O2L|||
|---|---|---|---|
||Turnover|Operating|Operating|
|||costs|surplus|
||E|E|E|
|Socialhousinglettings<br>Rent|2,267,672|(2,05O,796)|zto,876|
|Service charges<br>Socialhousinggrant<br>Otherincome|1,626,308<br>534,679<br>26,427|(7,636,937)<br>(528,627)<br>(26,427)|(10,629)<br>5,992|
||4,449,026|(4,242,787)|206,239|
|Non-socialhousing<br>Healthand wellbeing<br>Child andfamilyservices<br>Youth services|L29,994<br>916,529<br>79,277|(373,575)<br>(1,064,190)<br>(110,261)|(243,587)<br>(r47,66L)<br>(30,984)|
|Cateringservices<br>Other activities|44,7LL<br>275,560|(80,361)<br>(89,793)|(35,650)<br>185,767|
|Otherincome|570,030|(570,030)||
||2,016,101|(2,288,2r0)|(272,L09)|
||6,465,127|(6,530,997)|(65,870)|



## 

|Fortheyear ended31|March2O2O|||
|---|---|---|---|
||Turnover|Operating<br>costs|Operating<br>surplus|
||E|E|E|
|Socialhousing lettings<br>Rent|2,0O2,649|2,r34,836|(132,r87)|
|Service charges<br>Socialhousinggrant|1,456,772<br>442,527|1,539,093<br>476,376|(82,32r)<br>(33,855)|
||3,90r,942|(4,150,305)|(248,363)|
|Non-socialhousing<br>Healthand wellbeing<br>Child andfamilyservices<br>Youthservices|446,6r2<br>7,265,442<br>83,623|507,880<br>7,303,434<br>LOz,59r|(61,268)<br>(37,992)<br>(18,968)|
|Cateringservices<br>Other activities|745,372<br>427,03L|162,562<br>274,930|(17,250)<br>2t2,LOr|
||2,368,020|(2,291,397)|76,623|
||6,269,962|(6,447,702)|(L7r,7 40)|





## 

## 

## 

|Operating deficit|||
|---|---|---|
||202L|20zfJ|
|Operating deficitfor theyearisstated aftercharging|c|E|
|Feespayableto thecompany'sauditor for the auditof the|||
|company'sfinancial statements|20,000|18,000|
|Depreciation of owned tangiblefixedassets|317,987|307,778|
|Operatinglease charges|35,329|36,996|



## 

|<br>duringtheyearwas:|||
|---|---|---|
||202L|2fJ2(J|
||Number|Number|
|Housing|43|47|
|Communityhealth|L4|15|
|Children'sservices|7B|75|
|Youthservices|4|3|
|Cateringservices|I7|77|
|Executiveteam|10|6|
|Corporateservicesand administration|20|2L|
|Site operations andcleaning|1B|19|
|Membership andreception|20|20|
|Total|224|2r7|



|Their aggregate remunerationcomprised:|||
|---|---|---|
||202L|2f)20|
||E|E|
|Wagesandsalaries|3,830,634|3,773,r07|
|Socialsecuritycosts|269,435|26t,257|
|Pension costs|453,294|155,336|
||4,553,363|4,7Bg,7OO|
|Redundancypaymentsmadeor committed|72,991|<br>9,634|





## 

## 

## 

|The num|berofemployeeswhose annual em|oluments€60,000ormorewere:||
|---|---|---|---|
|||2f)2L|zfJzrJ|
|||Number|Number|
|[60,000|-f70,000|2|2|
|[70,001|-[B0,0oo|1|1|
|€80,001|-f100,000|1|1|
|||4|4|



## 

|Executivestaffemoluments|||
|---|---|---|
||zrJ2L|202()|
||E|E|
|Emoluments|434,L02|393,999|
|Pensioncontributions|28,877|26,047|
|Total emoluments|462,973|42O,040|



## 

|ief Executiv|e)was|
|---|---|
|202L|2fJ20|
|€|E|
|95,931|95,217|



|7|Interestreceivable andsimilarincome|||
|---|---|---|---|
|||2(J2L|zfJ2fJ|
|||E|E|
||Income from fixedassetinvestments<br>Incomefromother fixed asset investments|44,644|60,07t|





## 

## 

## 

|Interestpayable andsimilarexpenses|||
|---|---|---|
||202L|zfJzfJ|
||E|E|
|Interestonfinancialliabilitiesmeasuredat amortisedcost:|||
|Intereston bank overdrafts andloans|78,476|975|
|Otherintereston financial liabilities|27,573|32,49I|
||46,049|33,466|
|Otherfinancecosts:|||
|Unwindingofdiscount onpensionobligation|23,707|26,852|
||69,756|<br>60,318|
|Fairvaluegains/(losses)onfixedassetinvestments|||
||zfJ2L|2020|
||E|E|
|Gainon disposal offixedasset investments|472|13,970|
|Movementinmarketvalue|305,918|(2I7,787)|
||306,390|(203,8r7)|



## 

## 

## 



## 

## 

## 

|12|Tangiblefixedassets|Freehold<br>Leasehold|Assets|Fixtures||Office|Motor|Total|
|---|---|---|---|---|---|---|---|---|
|||buildings<br>landand<br>buildings|under<br>construction|and<br>fittings|equipment||vehicles||
|||E<br>E|2|E||E|E|E|
||Cost<br>At1April2020<br>Additions|13,724,530<br>229,645<br>1,883,975|577,782<br>2,584,409|1,788,331<br>109,460||89,902|<br>83,772|18,r48,292<br>2,923,5r4|
||At 31March2021|13,954,!751,883,9753,762,!91||7,897,79r||89,902|<br>83,772|27,077,806|
||Depreciation andimpairment<br>At1April2020<br>Depreciation charged intheyear|L,254,823<br>t72,974<br>474,534<br>37,680||1,568,031<br>706,765||87,645<br>622|83,772|3,469,805<br>3r7,987|
||At31 March2O2L|7,427,737572,2L4||L,674,796||88,267|83,7723,786,786||
||Carryingamount<br>At 31March 2O2I|72,526,438t,37r,76L 3,!62,191||222,995||1,635||L7,285,O20|
||At 31March2O2O|L2,469,707r,4O9,44r|577,782|22O,3OO||2,257||74,679,487|





## 

## 

|Investmentproperty||
|---|---|
||2f)21"|
||E|
|Fairvalue||
|At1April2020|570,000|
|Netgainsorlossesthrough fairvalue adjustments|10,000|
|At 31March2027|580,000|



## 

|Fixed assetinvestments|||
|---|---|---|
||202L|202(J|
||E|E|
|Listed investments|r,683,27L|1,381,096|
|Cash|3,418|3,756|
||r,686,629|7,384,852|



## 

|Movements infixedassetinvestment|s|||
|---|---|---|---|
||Investments|Cash|Total|
||otherthan|||
||E|E|E|
|Costor valuation||||
|At1April2020|1,381,096|3,756|1,384,852|
|Valuationchanges|305,918||305,918|
|Investmentincome||44,644|44,644|
|Investmentmanagementfees||(4,613)|(4,613)|
|Disposals|(3,803)|4,275|472|
|Transfertobank||(44,644)|(44,644)|
|At 31March2027|!,683,277|3,4L8|1,686,629|
|Carrying amount<br>At 31March zOZt|7,683,2!t|3,478|7,686,629|
|At 31March2020|1,381,096|<br>3,756|!,384,852|



## 



## 

## 

## 

|16|Debtors: amountsfallingduewithinoneyear||||
|---|---|---|---|---|
||||202L|202f,|
||||E|E|
||Service charges due||263,8r4|258,750|
||Other debtors||10,509|12,644|
||Prepaymentsand accruedincome||293,t48|t23,620|
||||567,47L|395,014|
|L7|Creditors: amountsfallingduewithinoneyear||202L|20ztJ|
|||Notes|E|E|
||Other borrowings<br>Trade creditors|19|608,937<br>463,970|427,736<br>20r,766|
||Taxation andsocial securitY||64,663|74,L83|
||Other creditors||247,154|113,901|
||Accrualsand deferredincome||L4B,162|685,427|
||||1,532,886|1,502,407|
|18|Creditors: amountsfallingdueaftermorethan|one year|202L|2020|
|||Notes|E|E|
||Other borrowings<br>Accruedpensiondeficitcontributions|19<br>2L|2,405,547<br>838,338|7,OBg,2L7<br>685,377|
||||3,243,885|r,774,588|
|19|Loans andoverdrafts||||
||||202L|2fJ20|
||||A|E|
||Otherloans||3,074,484|1,516,953|
||Payablewithinoneyear<br>Payableafteroneyear||608,937<br>2,405,547|427,736<br>L,089,217|



## 



## 

## 

## 

|Deferredgrants|||
|---|---|---|
||202L|2020|
||E|E|
|Arisingfrom governmentgrants|2,707,500|2,707,500|



## 

|Retirement benefitschemes|||
|---|---|---|
|Definedcontributionschemes|zfJ2L<br>E|2f)20<br>E|
|Chargetoprofitor lossinrespectof definedcontributionschemes|776,717|155,336|
|Pensionrevaluationcharge|277,763||



## 



## 

## 

## 

## 

## 

|Restrictedfunds|||
|---|---|---|
||zfJ2L|2020,|
||E|E|
|Atthebeginning oftheyear<br>Incomingresources<br>Resources expended|4,730<br>45,000<br>(35,343)|7,525<br>15,285<br>(1B,0Bo)|
|Attheend oftheyear|74,387|4,730|





## 

## 

## 

## 

|Revaluation reserve|||
|---|---|---|
||202L|zfJ20|
||E|s|
|Atthebeginning oftheyear|4,532,527|4,635,533|
|Other movements|(103,012)|(103,012)|
|Attheendoftheyear|4,429,509|4,532,52r|



## 

|<br>ingfromtherevaluati<br>Designatedfunds|<br>on.||||
|---|---|---|---|---|
||Pension|Investment|Property|Total|
||reserve|revaluation|assetfund||
|||reserve|||
||E|E|E|E|
|At1April2019|(796,999)|rr7,309|8,469,047|7,789,35r|
|Other movements|1 11,628|72,291|1,455,368|r,579,287|
|At 31March2020|(685,371)|t29,600|9,924,409|9,368,638|
|Other movements|(264,203)|577,074|(2,2rO,L92)|(r,897,32r)|
|At 31March 2O2I|(949,574)|706,674|7,7!4,217|<br>7,47L,377|



## 

|<br>payments under non-cancellableoperatinglea|<br>ses,whichfalldueasfollows:||
|---|---|---|
||202L|2020|
||E|E|
|Withinoneyear|55,329|35,329|
|Betweentwoandfiveyears|725,632|185,759|
||1B0,961|227,OBB|





## 

## 

## 

|werenodisclosable relatedpartytransactionsduring year(<br>Cash(absorbedby)/generated fromoperations|2020:fnil).||
|---|---|---|
||2fJ2L|2fJ2(J|
||E|s|
|Deficitfor theyearaftertax|(51,755)|(314,804)|
|Adjustments for:<br>Finance costs|69,756|60,318|
|Investmentincome|(44,644)|(60,071)|
|Investmentmanagementcharges<br>Fairvalue gain on investmentproperties|4,613<br>(10,000)|5,577<br>(61,000)|
|Depreciation and impairment of tangible fixedassets<br>Gainonsaleofinvestments|3r7,9B7<br>(472)|307,7L8<br>(13,970)|
|Unrealised(gain)/lossonfixedasset investments|(305,918)|2r7,787|
|Pensionscheme non-cash movement|27L,299||
|Increaseindeferredincome||2,r07,500|
|Movements inworkingcaPital:<br>(Increase)/decrease instocks<br>Increase in debtors|(L,452)<br>(772,457)|B2t<br>(77,657)|
|(Decrease)/increase in creditors|(L57,707)|553,776|
|Cash(absorbedby)/generated fromoperations|(80,156)|2,725,929|



|29|Analysisofchangesinnetfunds/(debt)<br>1April<br>2020|Analysisofchangesinnetfunds/(debt)<br>1April<br>2020|Cash<br>flows|Market<br>value|31March<br>202t|
|---|---|---|---|---|---|
|||2|E|E|E|
||Cashatbank andinhand|L,904,349|(1,643,198)|-|261,157|
||Borrowingsexcluding overdrafts|(1,516,953)|(7,657,594)|160,063|(3,0r4,484)|
|||387,396|(3,300,792)|160,063|(2,753,333)|





## 

## 

## 

|Residentialunitsunder management|||
|---|---|---|
||202L|2(J2fJ|
||Number|Number|
|The numberofhostel accommodationbed spacesin|||
|management|794|794|
|The numberofunitsofhousing accommodationin|||
|management:|||
|GeorgeWilliamsHouse|10|10|
|RedTriangleHouse|4|4|
|HedleyHouse|B|B|
|Church View|10|10|
|BrookfieldCourt|9|3|
|Defiance Walk|40|40|
|SarahTurnbullHouse|44|43|
|Total|319|312|



##