Company Regrstered Number.. 08684425 Charrty Reglstratlon Number: 1154246 YMCA INDIAN STUDENT HOSTEL (A Company Limlted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guarantee) CONTENTS Page Referonce and Admlnistrative Detalls of the Charity. Its Trustees and Advisers Trustees. Report Statemènt of Tru$tegs' Responslbiliti9S Independent AudStors' Report on the Financlal Statemonts 8-11 Consolldated Statement of Financlal Actlvltios 12 Consolldated 8alance Sheet 13 Charity Balance Sheot 14 Consolidated Statement of Cash Flows 15 Notes to Ihg Flnancial Statements 16-36
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guaranlgel REFERENCE AND ADIIIINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees Mr Pradeep Malhew Johns, Treasurer Mr Richard Anthony Leonard Lees (resigned 5 November 20211 Mr Bertram Vedamoney Devadas Justice Jacob Benjamin Koshy, ChaiMn Mr Vincent George Mr Jacob Kutty Koshy Mr Paulson Kandanen Paulosg Mr Mark Abraham (resigned 10 August 2021 Mf Benjamin James Halls Company reglstered number 08684425 Charty roglstered numbor 1154246 Regl$tered office 41 Fitzroy Square London W1T6AQ Company secretary Eldo Nedumlhallil Varghe$e Independent audltors MHA Maclntyre Hudson Statutory Audrtor 6th Floor 2 London Wall Pla London, United Kingdom EC2Y SAU Page 1
YMCA INDIAN STUDENT HOSTEL {A Company Llmlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Board of Trustees of the YMCA Indian Student Hostel I'ISH"), have pleasure in presenting their report together with the audited group financial slalemenls of the incorporated Charity for the year ended 31 March 2022. Princlpal Activities The principal activity of ISH is the provision of hostel accommodation for students from all over the wortd coming lo the United Kingdom lo pursue higher studies andlor advaneement of learning Ihroltgh training. Constitution of ISH In accordance with English Charity law and English Company law. the Trustees are ultimately responsible for the good govemanee and supervision of ISH including supervision of ils staff and assets in accordance with its charitable objects. Under the 1967 Declaration of Trust as amended by the 2012 Dged of Amendment, NCYI (India} has the p¢)wer lo appoint and remove ISH'S charity trustees. including office holders, which it lends to appoint for a 3-year lemi which may be extended al ils discretion subjeel to NCYI'S own Conslilulion. The ISH'S charitable purpo$&s are to provide for the physical, inlelledual, spiritual rrtness. training, and well- being of students and to provKle hostel accommodation for those purposes. We hovo rglerfed to the guKlance in the Charity Commission's general guidance on Public Bgnefrt when reviewing our aims and objedives and in planning Ouf future aclivilies. In particular, the Board of Trustees onsiders how planned adivilies will contribute lo the aims and objectives they have set, which are described bek)w. The Trustees ensure that these activities are carr¢ed out for the public benefit by delivering serVIS that are valued by our users. The Trusloes sel the strategic direction of the Charity and are responsible for upholding the Charity's values and governance and delivery objectives. The executive is responsible for the day lo day running of the Charity under delegated aulhorily. The ISH has the power Its invest monies, not immedialety required for the furtherance of Its L)bltiveS. in bank deposits. investrnenls and securities as it thinks ff(, subject lo any slatulory Tequirements. Organisational Structura The ISH now carries out ils functions as an incorporated Charity and a Company limited by guarantee. All non- charrtable aetivilies are accounted for in the ChariWs wholly - owned trading 8ubsidiary. Accounts shown in this report are a consolidation of Charity & it's subsidiary adNitigs. The Trading subsidiary providad the means of transferring the surplus to the Charity by a deed of gift. Hostel Objectivos The ISH'S principal objectwes are as follows.. The objects of the Charity are for the publi¢ benefit to promote the physical, intellectual and spiritual fitness. training and wellbeing of students, in particular but not limited lo, students of Indian nalionalily, resident for the lime being in the United Kingdom and for the advancement of Ihelr education by the provision of hostel or residential accommodation thereof. Page 2
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantse) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 To meet these objectives the ho$lol continue5 to provide hostel accommodation for students f¥om India and from other countries. Vve organise annual sporting events where all students regardless of their gender and affinity lo sports take part in various sporting events. (Badminton, Cricket, Tug of war etcl. Debates are organised between various professionals on current affairs. Once a week a Spiritual fellowship is organised with the students. Spiritual leaders fiom various denominations are invited to speak al the gatherings. Most Indian ligIouS are celebralecl with events and special meals like, Holi. Onam, Diwali & Christmas. In addition. Indian National events like Independence & Republ Day are also organised. The hostel continues to be run by the Board of Trustees. The Trustees are appointed by the Nath'onal Council of YMCAS of India al the triennial for a term of three years. Induction and training of new Trustees is being followed as per Charity Commission's guidelines. The Trustees eonfi'rm that they have complied with the duty in Section 4 of Ihg Charities Ad 20(E having due regard lo the Charty Commi$sion's general guidance on public benefrt, 'Charitses and Public eenefil,. Oui charges reflect the cosl of providing the services given. No one is excluded from the services of the Charity on the grounds of race. creed. sex. or social and economic circumstances. The structure of the Trustee's Annual Report allows us lo report on ea¢h of our strategic aims and our achievements during the year wlh each objective. Revlew of the Year This year has been challenging especially from April 21 to August 21 with the ever-changing Government regulations and restrictions. But unlike last year, we were better prepared this year and kept adapting and ¢hanging our strategy based on the current climate. As wth last year we had a good team in place. We are thankful to the government for the support provided. (Furlough, business ralè holidays. CIBIL Loan elc.} Achievemgnts and performance London Charity With an average occupancy rale at 66.33Vts, our income came in al £1,378,563. This flected a YOY increase in income of 1740h which in in line with the U.K Govemmenl lifting restrictions in September 2021. Expenses al £1,451,758 represented a YOY increase of 19.55%. In hindsight. expenditure for the previous financial year120- 211 wuld have been lower. Our operating profil for the year settled at £132.786. With depreciation though, we incurred a Iosg of £107.032. Oveiall, this has been a decent performance, considering the first 6 months of our financi81 year we were incurring losses and lo turn this around in the next 6 months lo generalg an operating profil, speaks volumes of the strategies the management adopted lo the ever-changing situation. Page 3
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 CIBIL Loan We started repaying the Government B8cked CIBIL Loan of £250.000 in May 2021. As of March 2022. the balance was £204,167. The Charity spent the following amounts which was ¢apilali$ed'. Air supply fan for the boiler room.. £816 Grundfos Magn3 Heating pump.. £2,276 Refurbishment of the roof.. £17,568 Dough Roller". £784 Tihing wel grinder.. £1.100 Window blinds.. £551 New Valliant Boiler for the Jubilee bk)ck.' £5,632 Water filter.. £3,379 2 Meraki WIFI Access Point.. £4,396 2 Samsung Fridge Freezer.. £758 I Commercial Polar Single Door Fridge.. £1,790. LED Lights for the reslauranl.. £1,303 Reception Door Access Card Installation.. £5.238 Tradlng Our trading occupancy sh(Med a deconl improvement al 40.530A. This wa$ a result of the impact of the pandemic and reslriclions on International Travel. Our income al £609,574 incfeased by 21301¢. Most of this additional income was generated during the laiter part of the financial year. As the Trading subsidiary, had sufficient income for the year, a deciston was made to revert lo the standard peent390 of 390/0 as 8 management charge. The lolal expense was £599,585. This left 8 Surplus of £9,989 for the year. Blrmlngham Tho Birmingham property operates as a sludenl hostel in challenging circun7slances. Occupancy rates at 78.9% increased by 27.90/0 despite the pandemic. Income al £127,643 increased by 600h. Expenses at £166,130, went up by 150A. The majortty of this was due lo an 100°A increase in maintenance & repairs. For the first lime in history, Birmingham made an operating profrt of £1,292. With depreciation though we incurred a loss of £38,488. Page 4
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guaranteel TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Con olldated Flnanclal Revlew The YMCA is reliant on incomg from accommodation, eatering and hall hire. The total income was £2,115,469 an increase of 129Vo ¢ompared to the previous year. Most of this increase was generated from the last 6 morsth of the year. Expenses al £2,217,183 went up by 47°. Our operating profil hil £144.067. A decent performance considering where we were in August 2021. Bul with depreciation though, we incurred a deficit of £135,531. The Board have decided lo keep increase the rates by SUA across the board, in April 2021, rather than wail until September to tackle the increase in costs and minimum wages. When setting budgets. the hostel revigws annual accounts. periodic management accounts and cash flows in order to ensure we mel our KPI'S. The KPI'S have been revised in line with Ihg pandemic. We have been on a sleep leaming curve and continue to learn on how lo manage and mitigate the risk until we c(Ime out of this situation. The Board of Trustees monilar whether the level of income is suffiGient to meol our operational c051s and ensure we continue lo adapt our strategic poliey lo meet this. Future developments The Plans for the Centenary Building al Bimiingham received clearance from the Ex@culive Committee and Board of Trustees in March 22 and plans are now in full operation. Reserves Pollcy Our policy for reserves is not set in stone, and is constantly reviewed and adapted lo refiect our requirements. We used our reseNes during the previous year durrng the pandemic. We only borrowed £250K through CIBIL and could have paid it off with the reserves we had. Now we are in the process of building that back up. There is no limit lo the amount of reserves we can hold, but ils kept & built for future uncertainties and investments. Management Rlsk The Charity and members have considered the major risks lo which the Charity is exposed and have reviewed the risks and gstablished systems and procedL¢res lo manage and mitigatè these risks. The principal risks included the risk of a fall in average occupancy of the hostels and the risk of increased costs. Oceupancy- This continues lo be a major r¢sk. We are liaising vvilh various educational institutions & related organisalions within the UK & inlernalionalty to market our facilf(ies and provide accommodation rather than depend entirely on students arriving from India. Thi$ way we ensure our ¢xcupancy is kept at 11)e highest possible level. Covid 19- We have undertaken a ¢omprehensive risk assessment of our facilities with the guidance & advise of our Risk advisors'Gallaghers° and have adapted all our operations to ensure we are compliant with Government regulations. This is also constantly being reviewed lo ensure we ale on lop of these frequently changing guidelines. Board of Trustees The Board of Trustees met virtually twice to monitor Ihg porforn7ance of the Charity. Day to day management of the hostel is delegated lo the General SecrelarylCEO. The setting of pay of the Key Mana9emenl Personnel is managed by the Board of Trustees. following reviews of staff and with consideration lo Chartty benchmarks. The CEO and the Board of Trustees comprise the Key Management Personnel of the Charity. Page 5
YMCA INDIAN STUDENT HOSTEL IA Company Limitsd by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Thlrd Party Indemnity Provislons The Charity maintains a Trustees. Indemnty Insurance Poliey. which Covers the Trustees against certain liabilty claims. Disclosur8 of Information to Audltors In so far as each and every committee member is aware.. there is no relevant audit information of which the auditors are unaware", and each and every Committee member has taken all steps that they ought to have taken lo make themselves aware of any rglevanl audit inforrnalion and lo establish that the auditor Is aware of that infomialion. Auditors MHA Maclntyre Hudson were appointed as auditors for the year ended 31 March 2022 and have indicated Ihoir willingness to continue in office and offer themselves for re-appoinlmenl al the forthcoming Annual General Meeting. Small companies note In preparing this report, the Trustees have taken advantage of the small companies gxemplions provided by section 415A of the Companies Act 2006. Approved order of the Members of the Board of Trustees and sigrled on their behalf by.. Just Chainnan Dale.. cil- i 2..12 min oshy Page 6
YMCA INDIAN STUDENT HOSTEL IA Company Llmltod by Guaranloo) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 fvIARCH 2022 The Trustees (who are also the Directors of the Charity lor the purpose8 of company lawl are responsible for preparing the Trustees. Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AoUntIng Praclicel. Company law requires the Trustees to prepare financial stslemenls for each financial year. Under company law, th? Trustees musl not approve the financial stgtemenls unless they are $81isfied that they give a true and fair view of the slate of affairs of the Group and the Charity and of their incoming resources and application of resources. including their income and expendf(ure, for that period. In preparing these financial stslemenls, the Trustees are required lo.. select suitable accounting policies and then appty them con$islenlly', observe the methods and principles of the Charities SORP {FRS 102)., make judgements and accounting estimates that are reasonable and prudent", slate whether applicable UK Accounting Standards IFRS 1021 hove been followed, subject lo any material departures disclosed and explained in the financial slatemenls.. prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume th* the Group wll continue in business. The Trustees are responsible ft)r kgeping adequate accounting records that are sufficient lo show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any timo the financial position of the Group and the Charity and enable them lo ensure that the financial slalement5 comply with the Companies Acl 2006. They 8re also responsible for safeguarding the assets of the Group and Ihg Charity and hence for taking reasonable steps for the prevents.on and delectlon of fraud and other irregularities. Approved y order of the Members of the Board of Trustees and signed on ils behaw by.. Justl¢o Chairman Date.. (Yi ~/ 1 -12 acob Benjamln Koshy Page 7
YMCA INDIAN STUDENT HOSTEL (A Company Limited by Guarantee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL Qplnlon We have audrted the financial slalemenls of YMCA Indian Student Hostel Ilhe 'parent charitable company) and its subsidiaries (the 'group'l for the year ended 31 March 2022 which comprise the Consolidated Slalemenl of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The finan¢ial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard$. including Financial Reportin9 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclieel. In our opinion the financial statements.. give a true and fair view of the slate of the Group's and ol the parent charitable companys affairs as at 31 March 2022 and of the Group's incoming resources and application of resources. including ils income and expenditure for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Aepted Accounting Practice," and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charit$ Act2011. Basls for opinion We conducted our audf( in accordance wlh International Standards on Auditing IUKI {ISAs IUKII and applicable L7w. Our responsibilities under those standards are further described in the Auditors, SponSIbl1111eS for the audit of the financial slalemenls section of our report. We are independent of the Group in accordance with the ethical requ1mentS that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Elhic81 Standard. and we have fulfilled our other ethical responsibilities in aeeordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide 8 basi5 for our opinior*. Concluslons relating to golng Goncern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is 8ppTopriale. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually OT colleclivety, may east significant doubl on the Group's or the parent charitable company's ability to continue as a going concem lor a period of al least twelve months from when the financial slalements are aulhorised for issue. Our responsibilities and the responsibilities of the Tfuslees with respect to going concern are descfibed in the relevant sections of this report. Page 8
YMCA INDIAN STUDENT HOSTEL IA Company Llmitsd by Guarantse} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL (CONTINUED} Other information The other information comprises the infomalion included in the Annual Report other than the ffnancial slalements and our Auditors, Report Ihereon. The Trustees are responsible for the other infomialion contsined within the Annual Report. Our opinion on the financial slalements does not cover the other information and, except lo the extent otherwise explicitly slated in our feport, we do not express any form of assurance conclL*sion thereon. Our responsibility is lo read the other infomation and, in doing so, consider whether the other information is materially inconsislenl wf(h the financial 5talemenls or our knowledge obtsined in the course of the audit, Of othenlse appears lo be materially misslaled. If we identify such material inconsistencies or apparent male¥ial misstalemenls, we a required lo detem?ine whether this give5 rise lo a material misslalemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other matters prescrlbed by the compani A¢t 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial slalemenls are prepared is consistent with the financial statements. the Trustees, Report has been prepared in accordance wtth applicable legal requirements. Matters on which we are required to roport by exceptlon In the light of our knoedge and understanding of the charitable eompany and its environment obtained in the course of the audit, we have not idenlilied material misslalements in the Trustees, Report. We have nothing lo report in respect of the following matters in relation lo which Companies Act 2006 requires us lo report lo you if, in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records, or relums adequate for our audit have not been received from branches not visited by u$,. or the parent charitable company financial Slalemenls are not in agreement with the accounting records and relums.. or certain disclosures of Trustees. remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled lo prepare the financial slalements in accordance with the small companies regime and lake advantage of the small companies, exemption5 in preparing the Trustees. Report and from the requirement lo prepare a Strategic Report. Responsibilitigs of Trustees As explained more fulty in the Statement of Trustees, Responsibilities, the TrLtstees Iwho are also the Directors of the charitsble company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such irilernal control as ltrie Trustees determine is necessary to enable the preparation of financial slalemenls that are free from material misstslement, whether due lo fraud or error. Page 9
YMCA INDIAN STUDENT HOSTEL {A Company Limited by GuaTant?o} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL {CONTINUEDI In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability lo continue as a going concem, disclosing, as applicable, matters related to going eoncern and using the going con¢em basis of accounting unless the Trustees either intend lo liquidate the Group or the parent charitable company or lo cease operations, or have no realistic allernalive bul to do so. Audltor6' responslbllltles for the audlt of thg financlal statements Our objectives a¥e lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misslalement, whether due lo fraud or error, and to Issue an Auditors, Report that includes our opinion. Reasonable assuran¢o is a high level of assurance. bul is not a guarantee that an audit conducted in accordance wrth ISAS IUKI will always delecl a materi81 rnisslalemenl when it exists. Misslalemenls can arise from fraud or error and are considered material if, indivtdually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalements. Irregulartties, including fraud, are instances of non-mPliance with laws and regulations. We design pro¢edure8 in line with our respon5ibililies, outlined above, lo detect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedu$ are capable gf dolecling irregularilY&s, including fraud is detailed below.. Obtaining an understsnding of the legal and regulatory framewoths that the entty op$r3tes in, focusing on those laws and regulations that had a direct effect on the financial statements," Enquiry of management and those charged Yrfilh governance to identfy any instances of known or suspected instances of fraud., Enquiry of management and those charged with governance around actual and potsnlial litigation and claims,. Enquiry of management aboLrt any instances of non•complian¢$ with laws and regulation5,' Reviewng the Control systems in pla¢0 and testing the effediveness of the controls., Performing audit work over the risk of management override of controls, including testing of jOLtrnal entries and other adjuslmenls for appropriateness.. Evaluating the business rationale of significant transactions outside the noimal coui$g of busine5S', Reviewing accounting estimates for bias,. Challenging assumptions and judgemerts mado by management and Trustees on significant accounting estimalos., Reviewing minutes of meetings of those charged with governanee., and Reviewing financial statement disclosures and lesling lo supporting documonlalion to assess compliance th applicable law5 and regulations. Because of the inherenl limitations of an audit. there is a risk that we will not delect all irregularities, including Ih05e leading lo a material misslalemenl in the financ¢al statements or n¢nvcomp1ian with regulation. This risk increases the more that compliance with a law or regulation is Temoved from the events and transactions reflected in the financial slalemenls, as we will be less likely lo become aware of instances of non-compliance. The Tisk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities fof the audit of the financial slalemenls is focated on the Financial Reporting Coun¢il's website at.. www.frc.o .uklauditorsres on Auditors, Report. ities. This description ft)rms part of our Page 10
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guaranteo) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL ICONTINUEDI Use of our report This report is made solety lo the charitable company's Members, as a body, in accordance with Chapter 3 of Part 16 of tho Companies Act 2006, and lo the charrtable companls Trustees, as a body, Part 4 of the Charlties (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might sl*e lo the charitable company's Membeis those matters we are required lo slate lo them in an Auditors. Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Members, as a body. for our audbt work, for this report, or for the opinions we have fomied. Stuart McKay 8Sc FCA DChA ISenloT Stathtory Audltorl for and on behalf of MHA Maclntyre Hudson Stalulory Auditor London. United Kingdom Dale.. 2211212022 Page 11
YMCA INDIAN STUDENT HOSTEL (A Company Llmlted by Guarantee} CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted funds 2022 Total funds 2022 Tot81 funds 2021 Note Income from: Donations and grants Ch8ritsble activrties Other trading aclivilie$'. Fundraising Trading activities Investments 112,953 762,593 112.953 762,593 111.779 498,290 9.167 737,120 9.167 T37,120 36 1.624 274,338 7, T53 Total income 1,621,869 1.621,869 893, 784 Expenditure on: Trading operations Charitable activities 139.512 1.621,293 139,512 1.621.293 104, 781 1.419,317 10 Total expendlture 1,760.805 1.760,805 1,524,098 Net movement in funds {138,936) 1138.9361 (630.314) RKon¢llSation of nds. Total fund5 brought fofward Net movement in funds 4,044.465 1138,9361 4.044,465 (138,936) 4,674, 779 (630,314) Total funds cairled for•vard 3,905,529 3.905,529 4,044,465 The Consolidated Statement of Financial Activities includes all gains and lossos recognised in the year. The notes on pages 16 10 36 fomi part of these financial stalemenls. Page 12
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guarantee) REGISTERED NUMBER: 08684425 CONSOUDATED BALANCE SHEET AS AT 31 MARCH 2022 2022 2022 2021 2021 Note Fixed assets Tangible assets 15 3.449.845 3, 658, 105 3,449,845 3,658, 105 Current assets Stocks Debtors-. Amounts falling due within one year Cash at bank and hand 4,062 125,376 908,640 4.551 64,307 793, 776 17 23 1.038,078 862.634 Creditors- Amounts falling due within one year 18 {428,227) (272, 107) Net current assets 809,851 590.527 Totsl assets less current liabilities 4.059.696 4,248,632 Credrtors.. Amounts falling du& after more than one year 19 1154,1671 (204. 167) Total net assets 3,905.529 4,044,465 Group funds Unreslricled funds 20 3.905.529 4.044,465 Total funds 3,905,529 4,044,465 The Trustees acknowledge their responsibilities for complying wlh the requirements of the Companies Act 2006 with respect lo aceounling record8 and preparation of financial statements. The financial slalemenls have been prepared in accordance with the provisions 8pplicable to enlilies subject lo the small companies regime. The financi81 slalements were approved and aulhorised for issue by the TNstees and signod on their behaw by.. Ju$ti¢g'Jacob'è'enlamin'koshy Chairman Dale.. 02-12-2022 The notes on pages 16 10 36 fom part of these financial slalomonls. Mr Pradeep Mathew Johns Treasurer Page 13
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee} REGISTERED NUMBER.. 08684425 CHARITY BALANCE SHEET AS AT 31 MARCH 2022 2022 2022 2021 2021 Note Fixed assets Tangible assets Investments 15 16 3.449,845 3,658, 105 3.449.846 3,658, 106 Current assets Stocks Debtors.. Amounts falling due within one year Cash at bank and in hand 4.062 822.109 131.041 4,551 199, 654 618,034 17 957,212 822,239 (231,713) Creditors.. Amounts falling duo within one year 18 1347.3621 Net current assets 609,850 590,526 Total assets less current liabilit5es 4,059.696 4,248,632 Credilors.. Amounts falling due after more than one year 19 1154,1671 {204, 167) Total net assets 3.905.529 4,044,465 Charlty funds Unrestricted funds 20 3,905,529 4,044.465 Total funds 3.905.529 4,044,465 Tho Charit5 net movement in funds lor the year was £{138,9361 (2021- £1630,314)J. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respgct lo accounting records and preparats'on of financial slalemenls. The financial slalemenls have been prepared in accordance with the provisions applicable to enlilies subject lo the Small companies regime. The financial ststements were approved and aulhorised for issue by the Trustees and signed on thei¥ behaw by.. Justice Jacob Benjamln Koshy Chairman Mr Pradeep Mathew Johns Treasurer Date.. 02-12-2022 The notes on pages 16 10 38 form part of Ihesg financial slalements. Page 14
YMCA INDIAN STUDENT HOSTEL IA Company Limlted by Guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Cash flows from operating activltles Nel cash used in operating activrties 22 186,168 (273,371) Cash flows from Snvesting activities Interest income Purchase of tangible fixed assets 7, 753 (94,306) 15 171.3401 Ngt cash used In Inv8sting actlvltlos 171,3041 186,5531 Change in cash and cash equlvalents in thg year Cosh and ¢ash equivalents at the beginning of the year 114,864 1359,924} 1, 153,700 793.776 Cash and cash equivalents at the end of the yèar 23 908,640 793. 776 The notes on pages 16 10 36 fomi part of these financial statements Page 15
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Goneral Information YMCA Indian Student Hostel is a charitabEe company limited by guarantee and 1$ registered with the Registrar of Companies (Company Registered Number.. 08684425) and the Charity Commission (Charity Registered Numbe¥". 11542461 in England and Wale$. In the event of the Group being wound up, Ihg liability in respect of the guarantee is limi(ed 10 £1 per member of the Group. The address of the registered office is gwen in the Group infomation on page 1 of these finanaal slatemenls. The Charity operations and principal activities are the provision of hostel accommodation and the adVanrnent of leaming through training. Accounting policios 2.1 Ba$is of preparatlon of financlal statgments The financial statement$ have been prepared in acwrdance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10213nd the Companies Aet 20C6. YMCA Indian Student Hostel meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised al hislorieal cost or transaction value unless otherwise staled in the relevant accounting policy.The financial slalemenls are prepared in sterfing which is the functional and pre5enlalional currency of the Group and are rounded lo the nearest pound. The Consolidated Slalemenl of Financial Activities (SOFA) and Consolidated Balan Sheet onsolidate the financial statements of the Charity and its Subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented ils own Slalemenl of Financial Activities in these financial slalemenls. 2.2 Going Concern The Trustees have assessed the use of going concem and have Considered possible events or conditions that might Cast significant doubl on the ability of the Group lo continue as a going concern including the ongoing impact of COVID-19. The TTuslees have made this assessment for 8 period of al least one year from the dale of the approval of these financial slalements. The Tnjstees have conclLJded that there is a reasonable expectation that the Group has adequate resources lo continue in operational existence for the foreseeable future. Th8 Group therefore continues lo adopt the going concern basis in preparing these financial slalements, and is not aware of any material uncertainties over ils ability lo continue as a going concern. The Trustees are not aware of any post balance sheet events which would have a material impact on these financial slalomenls. Page 16
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by GuarantO9) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting poli¢les Icontlnued) 2.3 Incomg All income is recognised once the Charity has enif(lemenl lo the income, il is probable that the income will be received and the amount ol income reeeivable can be measured reliably. For legacies, entitlement is taken as the earlier of the dale on which either.. the chafty is aware that probate has been granted, tho eslale has been finalised and nolificalion has been mode by the execulorlsl to the Trust that a distribution will be made, or when a distribution is rewived from the eslale. Receipt of a legacy. in whole or part, is only considered probable when the amount Can be measured reliably and the charity has been notified of the execulorfs intention to make a dislribulion. Where legacies have been notified lo the charity, or the charity is aware of the granting of probate, and the criteria foT income recogn4tion have not been met. then the legacy is treated as a contingent asset and disclo$gd if material. Grants are included in the Consolidated Slalemenl of Financial Activities on a recewable basis. Thg balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is receNed in advance of erltrtlemenl of Ceipt, ils recognition is deferred and included in creditors as deferred income. Where enlillement occurs before income is received, the income is accrued. Gifts in kind donated for distribution are included al valuation and recognised as income when thoy are distributed to the projeds. Gifts donated for resale a included as income when they are sold. Donated facilities are included al the value lo the charity where this can be quantrfied and a third party is bearing the cost. No amounts are included in the financial slalemenls for services donated by volunteers. Donated services or lacililies are recognised when the charity has Control over the il&m, any eondilions associated wrth the donated item have been met, the retsipt of economic benefit from the use of the charity of the item is Probable and that economic benefit can be measured reliably. In accordance with the Charities SORP {FRS 1021. the general volunteer lime of the Friends is not recognised and refer lo the Trustees, report for more information about their eonlribulion. On receipt, donated professional services and donated facilities aro rscognised on the basis of the value of the gift to the charity which is the amount the charilywould have been willing lo pay to obtain servi8 or facilities of equivalent economic benefit on the open market," a corTesponding amount 1$ then recognised in expenditure in the pertod of receipt. Income lax recoverable relation to investment income 15 recognised at the time the investment income is receivable. Rendorlng of servlces Revenue from a contract to provide services is recognised in the peri¢>J in which the sewices are PTovided in accordance with the stage of completion of the contract when all of the following conditions are satisf*d.. the amount of revenue can be measured reliably.. il is probable that the Company will Ceive the eonsideralion due under the conlracl., the stage of completion of the contract at the end of the reporting period can be measured liably., and the costs incur¥ed and the costs to complete the contract can be measured relrably. Page 17
YMCA INDIAN STUDENT HOSTEL {A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng policies {continued} 2.4 Expendlturg Expenditure 15 recognised once there is a legal or conslruclive obligation lo Ifansfer economic benefit lo a third paty, rt is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made ¥Jp of the lotsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated dirgcIIy lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned befvleen those 8Ctivilies on a basis cr)nsislent with the use of resources. Central staff costs are althaled on the basis of lime spent, and depreeialion chargos allocated on the portion of the asset's use. Expendi(ure on raising funds includes all expenditure incurred by the Group lo raise funds for its charitable purposgs and includes costs of all fundraising aclNilies events and non-charrtable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Govornment grants Govemment grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated Slalement of Financial Activities over the expected useful lives of the assets concerned. Olher grants are erediled to the Consolidated Slalemenl of Financial Activities as the olaled expenditure is incurred. 2.6 Interest receivablg Interest on funds held on deposit is included when receivable and the amount can be moasured reliably by the Group., this is nomially upon noltficalion of the inler¢sl paid or payable by the institution with whom the funds are deposited. 2.7 Tangible fixed assets and deprgciatlon Tangible fixed assets costing £500 or more are capilalised and recognised when future economic benerrts are probable and the cost or value of the as$el can be measured reliably. Tangible red 8ssels are initially recognised al Cost. After Tognition, under the cost modd, tangible fixed assets are measured al cost less accurnulaled depreciation and any accumulated impaimenl losses. All costs incurred to bving a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Page 18
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting pollcles (continued 2.7 Tanglble flxed assets and depreclatlon {continuedl Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over Ih&ir estimated useful lives, using the slraighl-line method. Deprtcialion is provided on the following base5'. Freehold property Freehold land Plant and machinery Fixtures and ffttings 2Q/o Straight line Not depreciated 200/0 Straight line 200A Slfaight lino 2 Investments Fixed asset investments are a foim of financial instrument and are initially reeognised al their Iransaction cost and subsequently measured al fair value al the Balance Sheet dale, unless the value cannot be measured liablY in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and prosented as 'GainsllLosses) on investments. in the Consolidated Statement of Financial Activrties. Investments in subsidiaries are valueil at cost less provision for impaiment. 2.9 Stocks Stocks are valued al the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportton of fixeLI and variable overheads. 2.10 Debtors Trade and other debtors are recognised at the settloment amount after any trade diswunl offered. Prepayments are valued at the amount prepaid nel of any trade discounts dye. 2.11 Cash at bank and In hand Cash at bank and in hand includes cash and short-lerm highty liquid investments with a short maturty of the mnlhs or less from the date of acquisition or opening of the deposit or similar account. Page 19
YMCA INDIAN STUOENT HOSTEL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies {continued} 2.12 Llablllties and provlslons Liabilities are recognised when Ihore is an obligation at the Balance Sheet date as a resur( of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilrties are recognised at the amount that the Charty antiapales il will pay lo settle the debt or the amount il has received as advanced payments for the good$ or seNices il musl provide. Provisions arg measured at the best estimate ol the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the prosenl value of those amounts. discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recogni5ed in the consolated Slalemenl of Financtal AdNilies as a finanee cost. 2.13 Financlal Instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are inf(ially recognised al Ir8n5action value and subsequently measured al their settlement value with the exception of bank loans which are sub5equentty measured at amortised cost using the effoclive interest meth¢)d. 2.14 Pensions The Group operates a defined contribution pension scheme and the pension charg& represents the amounts payable by the Group lo the fund in SpeCt of the year. 2.15 Fund accounting General ftjnds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which havg not been designated for other purposes. Deswnaled funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial slalements. Surpluses on designated funds on proiecl$ are funded from unreslricled funds. Reslricled funds are fund5 which are to be used in accordance wlh specrfic reslriclions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is set out in the notes lo the financial slatemenls. Investment income. gains and losses are allocated lo the appropriat8 fund. 2.16 Prlor year restatements During the year the Trustees re8sses8ed the classification of the Coronavirus Job Retention Scheme funding received in the year ended 31 March 2021. They concluded that il better represents unreslricled income from Donations and Grants and as such il has been reclassified accordingly.. see Note 4. The decision to restate this prior year comparative h85 not had an impact on the resL¢It for the year ended 31 March 2021. Page 20
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Critlcal accountlng estimates and areas of Judgement Estimates and judgements are eonlinually evaluated and a based on historical experience and other factors, including expectation5 of ftjlure events that are belreved to be reasonable under the circumstances. Critical accounting estimates and 8ssumpltons'. The Charity makes estimates and assumptions eonceming the future. The resulting accounting estimates and assumptions Mll, by definition, seldom equal the rolaled actual results. The estimates and assumptions that 17ave a significant risk of causing a material adjuslmerbt lo the carrying amounts of assets and liabilities within the next financial ar a discussed below. Depreciation rale$ for tangible red asset$ Income from donatlons and grants Unrestrfcted funds 2022 Total fund$ 2022 Donation5 Grants 1,400 111,553 1,400 111,553 112,953 112,9S3 Included wlhin Grants above are Government grants of £111,553 (2021 £111, 749}. Of these total Government grants, £87,553 (2021 £117, 749) related lo the Coronavirus Job Retention Scheme and £24,000 (2021- £NIL) related lo Camden Council. There were no unfulfilled conditions attached lo these Government grants as al the either year end. Unstricted funds 2021 Total lunds 2021 Donations Grants 30 111.749 30 111,749 111,779 111,779 Page 21
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Fundraising income Unrestricted funds 2022 Total funds 2022 Other fundraising income 9,167 ,187 UnstnCted funds 2021 Total funds 2021 Other fundraising income 1.624 1.624 Trading activluos YMCA Indian Student Hostel has a wholty owned trading subsidiary, YMCA ISH Tiading Lim((ed. Company number 08818308 which is incorporated in England and Wales, and operates the trading activities of the Charity. The registered office of the trading subsidiary is the same as that of the parent Charity. A summary of the trading resu5 is shown below. Audited accounts for YMCA ISH Trading Limited will be filed with the Registrar of Companies. 2022 2021 YMCA ISH Tradlng Limitad Turnover Cost of sale$ 737,120 274,338 1586,3271 (149,942) Gross profil Administrative costs 150,793 124,396 1139,5121 (104, 781) Profrt on ordinary activities Distribution - donation to parent company 11,281 111.2811 19,615 (19.615) Retalned in tho subsldiary The eonsolidaled Slalement of Financial Actiwties ineludes the results of the subsidiary and those of the parent Charity. The unconsolidated surplus of YMCA ISH Trading Limited for the year ended 31 March 2022 was £11.281 (2021- £19,615). Page 22
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarant) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Investfflent income Unrestricted funds 2022 Total fund5 2022 Interest income 36 36 Unrestrictsd funds 2021 Total funds 2021 Interest income 7, 753 7, 753 Page 23
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guarantgel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Incomo from charltable actlvlties Unrestrlcted funds 2022 Total funds 2022 R¢xJm rent Meals Membership fees Inlemel income 750,615 3,560 5.585 2.833 750,815 3,560 5.585 2.833 762,593 762.593 UnTr$tncted funds 2021 Total funds 2021 Room rent Meals Membership fees Inlemel income 489,829 2.667 3,870 1,924 489,829 2.667 3,8TO 1,924 498,290 498,290 Page 24
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Expendire on raising fund$ Unrestricted funds 2022 Total funds 2022 Expendilufe on trading operations 139,512 139,512 UnTrstri¢ted funds 2021 Total funds 2021 Expenditure on trading operalK)ns 104. 781 104,781 Page 25
YMCA INDIAN STUDENT HOSTEL IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. Analysis of expenditure on ¢haritable activltles - by fund Unreytricted funds 2022 Total funds 2022 Room rent Meals Support co818 980,732 492,681 147,880 980,732 492,681 147.8BO 1,621,293 1,621,293 Unresln¢led lunds 2021 Total funds 2021 Room rent Meals Support costs 1,026,283 292,306 100, 728 1,026,283 292,306 100. f28 1,419,317 1,419,317 Page 26
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. Analysis of expenditure on charitable a¢tivitig$ - by type ActivitiOS undertaken dlrectly 2022 Support c¢)sts 2022 Total funds 2022 Room rent Meals Support costs 980,732 492.681 980,732 492,681 147,880 147.880 7,473,413 147,880 1.621,293 Aclivilies undertakgn directly 2021 Support costs 2021 Total funds 2021 Room rent Meals Support costs 7.026,283 292,306 1,026,283 292.306 100. T28 100, 728 1.318,589 100, 728 1,479,317 Analysis of support costs Totsl funds 2022 To181 funds 2021 Staff costs 42,472 36.348 15.719 53,341 12, 104 36,290 tl,042 41,292 Doprgcialion Govemance costs Others 147,880 S(, 728 Page 27
YMCA INDIAN STUDENT HOSTEL IA Company Lirnited by Guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. GovOTnanco Costs 2022 2021 Auditors, remuneration - Audit of the financial slatemer*ts {charity only) Auditors. remuneration - Accounts prepatIOn Icharily only) Trustees expenses 8,500 2.750 4.469 10,850 192 15,719 11.042 The audit fee of the subsidiary company of £4,000 (2027 £4,650J, the accounts preparation fee of £1.250 (2021 £NIL} and other services of £1,500 (2021- £NIL) are included in the adminislralwe costs of YMCA ISH Trading Limited lolalling £139,106 (2021- £104, 781) (Note 6}. 13. Staff costs Group 2022 Group 2021 Charty 2022 Charity 2021 Wages and salaries Social securty costs Pension costs 669,660 56,441 18.342 631,810 49,597 20,045 630,801 54,741 17,872 596,248 48,258 19,395 744.443 fol,452 703.414 663,901 The aveT8ge number of persons employed by the Charty during the year was as follows-. Group 2022 Group 2021 Charlty 2022 No. Charity 2021 No. Direct charitable Management and adminislralion 23 28 io 20 28 10 30 38 27 38 No employeè received remuneration amounting lo more than £60,000 in either year. Key Management Personnel S considered to be the Trustee5 and the General Secretaries. The lolal remuneration for Key Management Personnel was £63.521 (2021- £21.897). Page 28
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Trustees, remuneration and expensos Durtng the year, no Trustees received any remunerolion or other benefits (2021- £NIL). During the year ended 31 March 2022, travel expenses totalling £4,469 were Teimbursed or paid directly to 3 Trustees {2021- £192 10 2 Trustees). 15. Tanglble tlxed assets Group and Charlty Freehold propety Plant and Flxture5 and machinery rittings Total Cost or valuatlon Al 1 April 2021 Additions 4,644,998 1,637,901 71.340 267,653 6.550.552 71,340 Al 31 March 2022 4.644,998 1,709.241 267,653 6,621,892 Depreclation At 1 April 2021 Charge for the year 1.361.354 92,716 1.283.179 178,420 247.914 8,464 2,892,447 279,600 Al 31 March 2022 1,454,070 1.461,599 256.378 3.172,047 Net book value Al 31 Mar¢h 2022 3.190,928 247,642 11,275 3.449,845 Al 31 March 202t 3,283,644 354.722 19,739 3,658, 105 Page 29
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarante91 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. Flxed asset Investmonts Investments in subsidiary companies Charlty Market Value Al 1 April 2021 At 31 March 2022 The company has one share in ils subsidiary company, YMCA ISH Trading Limited. YMCA ISH Trading Lim((ed carries out the non-charitable activities of the group. Details of YMCA ISH Trading Limited are in Note 27. 17. Debtors Group 2022 Group 2021 Charlty 2022 Charity 2021 Due within ong yoar Trade debtors Amounts owed by group undertakings Olher debtors Prepoymenls and accrued income 24,501 11,683 721.285 5,758 95,066 138,571 6,258 94,617 52, 824 61,083 125,376 64,307 822.109 199, 654 Page 30
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Creditors: Amounts falllng due wlthln ono year Group 2022 Group 2021 Charlty 2022 Chaiity 2021 Bank ovgrdrafts Bank loans Trade creditors Other laxalion and social se¢urty other creditors Accruals and deferred income 3,449 50,000 190.100 11.780 22.062 150,836 4,044 45,833 120, 142 t2. 744 8.211 81, 133 3,449 50,000 167,401 11,780 20.081 94,651 4.Q44 45,833 90.069 12, 744 7,877 71, 146 428,227 272, 107 347,362 231, T13 Group 2022 Group 2021 Charlty 2022 Charity 2021 Deferred income at 1 April 2021 Resourees deferred during the year Amounts released from previous per+ods 31,225 99.191 131.225) 31,225 $4,331 {31.2251 31,225 31,225 99,191 31,225 S4,331 31.225 19. Credltors: Amounts falling due after more than one year Group 2022 Gmup 2021 Charity 2022 Charity 2021 Bank loans 154,167 204, 167 154.167 204, 167 Page 31
YMCA INDIAN STUDENT HOSTEL IA Company Limitod by Guarant&o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 20. Statement of funds statemant of funds- current year Balance at 31 March 2022 Balance at 1 Aprll 2021 Transfers Inlout Income Expendlture Unrestrlcted funds Designated funds Designated Fund- Maintenance fund 1.000,000 (1.000,0001 Goneral fund$ General Fund 3,044,465 1.621.869 11,760,805} 1,000,000 3,905,529 Total Unrestrictod fund$ 4.044,465 1,621,869 11.760,80SI 3,905,529 A designated ftjnd of £1,000,000 has been set aside by the Trustees for the long tem maintenance requirements of the hostel. Signrficanl maintenance work was car¥ied out during the periods of Covid- related lock-down and was funded from the unreslricled general fund. As such. the Trustees have decided that the designated maintenance fund is no longer necessary and have thus Iransfered the balance lo Ihg unre$lri¢ted yeneral fund. Page 32
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 20. Statement of funds Icontlnuedl Statement of funds- prior year Balance al 3t March 2021 Balanc8 at 1 Apnl 2020 Income E%p@nditure Unrestricted funds Deslgnat9d funds Designated Fund- Maintenance fund I,ooo,ooo I,(.000 Genoral funds General Fund 3,674, 779 893, 784 11.524,098) 3,044.465 Totsl Unrgstricted funds 4,674, 779 893. 784 (1,524,098) 4,044,465 21. Analysis of net assets betwogn funds Analy$i$ of net a$$et$ between funds- current year Unrestflcted funds 2022 Total funds 2022 Tangible fixed assets CLtTrenl assets CdI10r$ due wrthin one year Credrf(ors due in more than one year 3,449,845 3,449.845 1,038,078 1,038.078 1428,2271 1428,2271 1154,167} 1154.1671 Totsl 3,905,529 3,905.529 Page 33
YMCA INDIAN STUDENT HOSTEL IA Company Limited by GuarantO81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 21. Analysls of net assets boiweèn funds Icontinuedl Analysis of net assets between funds- prlor yoar Unrestricled funds 2021 Total funds 2021 Tangible fixed assets Current assets Credrtors due wrthin one year Credrtors due in more than one year 3,658, 105 862,634 (2T2, 107) (204, 167) 3,658, t05 862.634 (272. IOTJ (204, 167J Total 4,044,465 4,044,465 22. Reconciliation of not movement In funds to net Cash flow from operatlng activltlès Group 2022 Group 2021 Nel expenditure for the year las per St81emenl of Financial Aclivitiesl {138,9361 {630,314J Adjustments for: Depreciation charges Dividends. interests and rents from investments Decrease in 8lock8 Ilncrease}Idecrease in debtors Increase in creditors 15 279.600 1361 279. t48 (7, 753) 6,574 7,288 71,686 17 19,18 161.0691 106.120 Net cash provlded byl(used inl operatlng actlvitles 186.166 (273,371) 23. Anaty$l$ of cash and cash equlvalents Group 2022 Group 2021 Cash in hand 908,640 793, 776 Total cash and cash fjquivalgnts 908,640 793, 776 Pag$ 34
YMCA INDIAN STUDENT HOSTEL {A Company Limited by Guarant¥e} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 24. Analysls of changes in ngt debt At 1 Aprfl 2021 Cash flows At 31 March 2022 Cash al bank and in hand Bank overdrafts repayable on demand Debt due thIn 1 year Debt due after 1 year 793,776 14,0441 (45,833) 1204.167} 114,864 595 14,167} 50.000 908,640 {3.449) {50.000} 1154,1671 539.732 161,292 701,024 25. Penslon commltments The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and arnounled lo £18,342 (2021 £20,045J. Conlribul¢ons totslling £NIL (2021- £NILJ were payable to the fund al the year end. 26. Relatod party transactlons There were no related paty transactions in either year. other the Key Management Personnel remuneration. as detailed in Note 13. Page 35
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Prlnclpal sub$ldlarles The following was a subsidiary undertaking of the Charity.. Name Company number Registered office or principal Holdlng place of business YMCA ISH Trading Limited 08818308 41 Fitzroy Square, London, W1T 6AQ 1000 The financial results of the subsidiary for the year were.. Name Income Expendlture ProfiUILos$) I Surplusl ID&ficitl for the year Net assets YMCA ISH TTading Limited 737,120 1725,839) 11,281 Pag& 36