Company Registered Number: 08684425 Charity Registration Number- 1154246 YMCA INDIAN STUDENT HOSTEL (A Company Limlted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
YMCA INDIAN STUDENT HOSTEL {A Company Limited by Guarantee) CONTENTS Page Refergnco and Admlnistrative Details of the Charity, its Trustees and Advlsers Tru$tges' Report Statement of Trustees, Responslbilitlgs Independent Auditors. Report on the Financlal Ststements 8-11 Consolidated Ststoment of Flnanclal A¢vItIeS 12 Consolldated Balance Sheet 13 Charity Balance Sheet 14 Consolldated Statement of Cash Flows 15 Notes to the Financial Statements 16-35
YMCA INDIAN STUDENT HOSTEL (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees Mr Pradeep Malhew Johns, TaSurer Iresigned 85 Treasurer 13 Mareh 2022} (resigned 31 March 20231 Mr Bertram Vedamoney Devadas Justice Jacob Benjarnin Koshy, Chairman (resigned as Chairman 31 Mar¢h 20231 Mr Vincent George, Chairman (appointed as Chairman 01 April 20231 Mr Jacob Kutty Koshy {resigned 31 March 20231 Mr Paulson Kandanen Paulose (resigned 31 March 20231 Mr Benjamin James Halls Iresigned 1 August 20221 Mr Noel Amanna (appointed 1 April 20231 Mr Manickam P.E. Asirnvatham lappoinled l April 20231 Mr Akil George Eapen, Treasurer lappoinled as Treasurer 1 September 20221 Mr Suvi Kuruvilla Company registered number 08684425 Charlty reglstered number 1154246 Registered office 41 Fitzroy Square London W1T6AQ Cornpany secretary Eldo N Var9hese Independent audltoys MHA Stslulory Auditor 6th Floor 2 London Wall Place London, United Kingdom EC2Y SAU Page 1
YMCA INDIAN STUDENT HOSTEL IA Company Limitod by Guarantoel TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The B¢)ard of Trustees of the YMCA Indian Student Hostel I"ISH I, have pleasure in pSentIng their report together wrth the audrted group financial slalemenls of the incorporated Charity for the year ended 31 March 2023. Principal Actlvltles The principal activity of ISH is the provision of hostel accommrxlation for students from all over the wodd coming to the United Kingdom to pursue higher studies andlor advancement of leaming through training. Constltutlon of ISH In accordance wrth English Charbty law and English Company law, the Trustees are ultimately iespon$ible for the 900d governance and supervision of ISH including supervision of its staff and assets in accordance wfth ts charitable objects. Under the 1967 Declaration of Trust as amended by the 2012 Deecs of Amendment. NCYI Ilndial has the poyyer lo appoint and remove ISH'S charty trustees, including office holders, which il lends to appoint for a 3-year term which may be extended al its discretion subject lo NCYI'S own Conslilution. The ISH'S charitable purposes are lo provide for the physical, intellectual, spiritual fitness, training, and well- being of students and to provide hostel a¢commodation for those purposes. We have ieferred lo the guidance in the Charty Commission's general guidance on Public Benefit when reviewing our aims and objectives and in planning our future aclNilies. In particular, the Board of Trustees considers how planned activities wll contribute lo the aims and objectives they have sel, which are described below. The Trustees ensure that these activities a carried out for the publK benefit by delivering 5ervice5 that are valued by our users. The Trustees sel the 51ralegic direction of the Charity and are responsible for upholding the Charty's values and governance and delivery objectives. The executive is responsible for the day lo day running of the Charity under delegated authority. The ISH ha5 the power lo invest monies. not immediately required for the furtherance of ils obje¢tives, in bank deposits. investments and securities as il thinks fit, subject lo any slalulory requirements. The investments currently held weTe acquired in accordance with these powers. Organisational Structure The ISH now carries out ils functions as an incofporaled Charity and a Company limited by guarantee. All non- charitable activities are accounted for in the Trading subsidiaries, YMCA ISH Trading Limf(ed & YMCA ISH Birmingham. All the Charitable activities are accounted for under YMCA Indian Sludenl Hostel. Hostel Oblectlves The ISH'S principal objectives are as follows.. The objects of thè Charity are for the public benefit to promote the physical, intellectual and spiritual fitness, training and wellbeing of students, in particular but not limited lo. students of Indian nationality, resident for the lime being in the United Kingdom and for the advancement of their education by the provision of hostel or residential aecomrnodalK)n thereof. Page 2
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guaranteè) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 To meet these objectives the hostel Continues to provide hostel accommodation for students from India and from other countries. The hostel continues lo bo wn by the Board of Trustees. The Trustees are appointed by the National Coun¢il of YMCAS of India at 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 confirm that they have complied with the duly in Section 4 of the Charities Act 2006 having due regard to the Charity Commission's general guidance on public benefit. 'Charilies and Public Benefrt,. Our charges reflect the c05t of providing the serwces given. No one is ex¢luded from the semces of the Charity on the grounds of race. creed, sex, or social and economic Circumstan9. The slrudure of the Trustee's Annual Report allows us lo report on each of our str*egic aims and our achievements during the year with each objective. INe have hostel in London and 2 trading subsidiaries. One bas&d in London & another in Birmingham. In the Charity based in London we have 96 rooms catering lo Students. In Trading, we 41 rooms catering lo Trans&t guests, we have $taUrant and 4 conference halls. In Birmingham we have a 26 room133 bedl hostel catering to students. Rgvlew of the Year We had a very productive year. Inftux of students was al full peak such that there was a warf<ing list. The income from Charity, Trading & Birmingham exceeded expectations and this was a breath of fresh air compared to the PTevious financial year. Achlevements and performance London Charlty W(Ih an average occupancy rale at 95.850/0, our income came in al £1,905,678.13. This reflected a YOY in¢rease in income of 29.98Qk. Expenses at £2,046,939.08 repsernIed a YOY increase of 29.37Y.. The increase in our expenses reflects us coming out of the Covid period. Our operating Surplus for the year seitled al £109,024.14. th depreciation thoLtgh, we incurred a loss of £141,262.95. CIBIL Loan We started repgying the Govemment Backed CIBIL Loan of £250,000 in May 2021. As of March 2023, the balance was £154,167. The total Capital spend for Charty amounted to £117,240.29 which also included £38K for the Birmingham Centenary project. Page 3
YMCA INDIAN STUDENT HOSTEL (A Company Limitad by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Trading Subsidiaries London Our Iradino occupancy peaked al 89.78OA, as such our income at £1,250,446.39 increased by 105.13VD YOY. The occupancy remained steady throughout tho year. Expenses for Trading peaked a £819,153.36. The management charge paid by the Trading Division lo Charity at 390A wa5 £782,795. Bimiln ham 8irrningham's performance was good. Occupancy rates at 93.07%. Income at £177,092.18 incfeased by 38.7% YOY. Expenses al £154,445.39, went up by 22.23Q/o. Surplus for Birmingham hil £22,646.79. A record high. Consolldated Flnanclal Review The YMCA is reliant on income from accommodation. catering and hall hire. The lolal income was £2,555,745 an increase of 57.58/0 ¢ompared lo the previous year. Expenses at £2,238,958 went up by 27.160A. Our operating profit hit £558,704. A record high for the group. Bul with depreciation though, the SUFpIu5 came down 10 £316,787. The 8oard have decided lo increase the student & trainee rent by 7.75% & Transit by 24Vo as an average. Increases now lake effect from April 2023 rather Ih8n September as all our providers and contractors increase their prices from April onwards. The new prices are still in line or lower than Similar hoslelslholels in the Central London aa. When setting budgets, the hostel reviews annual accounts. periodic management accounts and cash flows to ensure we hit our KPI'S. The Board of Trustees monitoi whether the Ver of income is sufficient to meet our operational costs and ensure we continue lo adapt our strategic policy to meet this. Future developments London.. Plans for a full specification Gym, Archive room lo store historical documents & the complete refurbishment of the ladies, toilets on all ffoors received approval from the Trustees. 8imingham.' Based on the Dern8nd and our current suppty, the board of Trustees have approved the proposal to construct a SrooM purposul¢t sludenl accommodation with a kltchen and dining aa as an extension lo our building and lo refurbish the existing building as well. The proposal is lo build within the vacant space al the back of the current hostel. The plans currenlty Sit with Birmingham Council and awai15 approval. The Trustees have eannarked an approximate sum of £4.3 million towards this project. Page 4
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Rèserves Policy Our resetves are now back up to normal levels with our balances fitting £1,375,432 as on March 31st 2023. This includes a £500,000 fixed deposit with our bankers NATVVEST. The Trustees have passed a resolution to maintain £500.000 as a reserve fund for emergencies. Another £500,1)00 will be kept aside and allocated by the Board of Trustees based on the needs & demands of the organisalion. Any funds over and above £1,000.000 will be kept aside for expansion projects of the Charity in the UK. Managament Rlsk The Charity and members have considered the major risks to which the Charity is exposed and have reviewed the risks and established systems and PrOcureS lo manage and miligole these risks. The principal risks included the risk of a fall in average occupancy ol the hostels and the risk of increased costs. Occupancy- This continues lo be a major Tisk. We a liaising wlth various educational inslilulions & related organisalions within the UK & inlernalionally to rnarkel our facilities and provide accommodation rather than depend entirely on students arriving from India. This way we ensure our occupancy is kept al the highest possible level. Heath & Safely - We continue to monitor and act on advice provided by our H8S consuRanls Worknesl. Recruitment- We are actively engaging with recruitment Collsullanls lo hire Indian Chefs as a few of our staff are reachino retirement ag&. Board of Trustoes The Board ol Trustees met thrice in August 22, December 22, and February 2023. Oay to day management of the hostel is delegated lo the General SecrelarylCEO. The setting of pay of the key management personnel is managed by the Board ol Tfustees, following reviews ol stsff and with ctsnsideralion lo charity benchmarks. The CEO and the Board ol Trustees comprise the Key management personnel of the charty. Third Party Indemnlty Provlslons The Charity maintains a Trustees, Indemnity Insurance Policy, which cove¥s th¢ Trustees against certain liability laims. Page 5
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Dlsclosure of Infomiation to Auditors In so far as each and every committee member is aware.. there is no relevant audit information of which the auditor5 are unaware., and each and every commi118e member has taken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Audltors Following a rebranding exercise on 15 May 2023 the trading name of the company's independent auditor changed from MHA Maclnlyre Hudson lo MHA. A resolution to reappoint MHA as independent auditor will be proposed al the next Annual General Meeting. Small companios note In preparing this report, the Trustees have laken advantage of the small companies exemption5 provided by section 415A of the Companie5 Act 2006. Approved by order of the Members of the Board of Trustses and signed on theii behalf by. Justice Jacob Benjamin Koshy Chairman Dale-. 0211212023 Page 6
YMCA INDIAN STUDENT HOSTEL IA Company Limitsd by Guarantee) STATEMENT OF TRUSTEES. RESPONSIBILimES FOR THE YEAR ENDED 31 MARCH 2023 The Tnjstees (who are also the Directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial slalemenls in accordanee with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Aecepled Accounting Practice). Company law requires the Trustees lo prepare financial statements for each financial year. Under company law, the Trustees rnusl not approve the financial slalemenls unl&ss they are satislied 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 expenditure, for that period. In preparing these financial stslements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently", obsetve the methods and principles of the Charities SORP IFRS 1021", make judgements and accounting estimates that are ieasonable and prudent", slate whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the fi'nancial slalemenls., prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the Group v4ill continue in business. The Trustees are responsible for keeping adequate accountin9 records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy al any time the financial posf(ion of the Group and the Charity and enable them to ensure that the financial slalemenls cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking asonable steps for the prevention and detection ol fraud and other irregularities. Approved by order of the Members of the Board of Trustees and signed on it5 behalf by.. Justlce Jacob 8enjamln Koshy Chairman Dale.. 0211212023 Page 7
YMCA INDIAN STUDENT HOSTEL IA Company Limiled by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL Opinion We have audited the financial slalemenls of YMCA Indian Sludenl Hostel Ilhe 'parenl charitable company'l and ils subsidiaries Ilhe 'group'l for the yeai ended 31 March 2023 which comprise the Consolidated Slalemenl of Finan¢ial Activities, the Consolidated 8alance Sheet, the Charity Balance Sheet, the Consolidated Slalernenl of Cash Flows and the related notes, including a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the finaneial statements.. give a true and fair view of the slate of the Group's and of the parent charitable companvs affair5 as al 31 March 2023 and of the Grtsup's incoming resources and application of resources, including rts income and expendrture f¢)r the year then ended", have been properly prepared in accordance with Unil¢d Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance WFth the requirements of the Companies Act 2006 and the Char(fie5 Ac12011. Basls for opinion We conducted our audrf( in accordance wlh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilf(ies under those standards are further described in the Auditors, responsibilEties for the audit of the financial statements section of our report. We are independent of the Group in a¢¢ordan¢e wlh the elhieal requirements that ale relevant lo our audit of the financial slalements in the Unrted Kingdom, Includin9 the Financial Reporting Council's Ethical Standard, and we have fuKilled our other ethical responsibilities in accordance with these requiromenls. We believe that the audit evidence we have obtained is sufficient an appropriate lo provide a basis for our opinion. Concluslons relating to going concem In auditing the financial slalemenls, we have concluded that the Trustees. use of the going concern basis of accounting in thfr preparation of the financial slalemenls is appropriate. Based on the woik we have performed, we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast signrficanl doubl on the Group's or the parent charitable company's abilty to continue as a going concern for a period of al least twelve months from when the financial slalements are aulhorised for issue. Our respon5ibililies and the responsibilili8s of the Trustees with respect lo going concein are described in the relevant sections of this report. Page 8
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL (CONTINUED Other infomiation The other information eomprises the information included in the Annual Report other than the financial statements and our Auditors, Report Ihereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial slalemenls does not cover the other information and, except lo the extent otheNise explicitly slated in our report, we do not express any form of assuiance nclUsion theon. Our responsibility is lo read the other infDrmalion and, in doing so, consider whether the other information is materially inconsistent with the financial stslemenls or OUT knowledge obtained In the course of the audit, or otherwise appears to be materially misstsled. If we idenlty such material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have porformed, we conclude that Iheie is a material misstatement of th15 other information. we are required to report that fact. We have nothing lo report in this regard. Opinion on other mattors prg$crlb&d by the Companiés Act 2006 In our opinion, based on the work undertaken in the course of the aLtdit'. the information given in the Trustees, Report for the financial year for which the f5nancial statements are prepared 15 consistent with the financial statemeftts. the Trustees, Report has been prepad in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exception In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not idenlrfied material misslalemenls in the Tru5tees' Report. We have nothing lo report in SpeCt of the folltiwng matters in relation lo which Companies Act 2006 require5 us lo report lo you rf, in our opinion.. the parent charitable company ha5 not kept adequate and suffi¢ienl accounting rOrdS, or retums adequate for our audit have not been received from branches not visited by us.. or the parent charitable company financial statements are not in agreement with the accounting records and returns". or certain disclosures of Trustees, remunerab'on specrfied by law are not made., or we have not Teceived all the information and explanations we require for OL*r audit", or the Trustees were not enlilled lo prepare the financial statements in accordance Tmth the small companies regime and lake advantage of the small companies. exemptions In preparing the Trustees, Report and ITOM the requirement lo prepare a Strategic Report. Responsibllities of Trustees As explained more fully in the Slalemenl of Trusteès. Responsibilities. the Trusteès (who are also the Directors of the charitable company for the purposes of company lawl are responsible for the preparation ol the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee5 determine is necessary lo enable the preparation of fin8n¢ial statements that are free from material misslalement, whether due to fraud or error. Page 9
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guarantee) INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL ICONTINUEDI In preparing the financial slalemenls, the Trustees are responsible for assessing the Group's and the parent charitable cornpany's abilrty lo continue as a going concern, disclosing. as applicable, matters related to going concern and usin9 the going concern basis of accounting unless the Trustees either intend to liquidate the Gro¢Jp or the parent charitable company or lo cease operations, or have no realistic attemalive but to do so. Auditors. responsibilities for the audit of the financial Statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and lo issue an Audf(ors' Report that includes our opinion. Reasonable a$5uran¢e is a high level of assurance, but is not a guarantee that an audit conductèd in accordance wslh ISAS IUKI will athys delecl a material misslalemenl when il exists. misslalemen15 can arise from fraud or error and are considered material if, individually or in the aggTegale, they could reasonably be expected to influence the economic decisions of users taken on the basi5 of these financial stalem¢nts. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstalemenls in respect of irregularities, including fraud. The exlenl lo which our procedures are capabl& of detecting irregularilie5, including fraud is detailed below.. Obtaining an understanding of ItrFe legal and regulatory frameworks that the entity operates in. focusing on those laws and regulation5 that had a direct effect on th? financial statements", Enquiry of management and those charged wth governance to identify any instances of known or suspected instances of fraud", Enquiry of management 8nd those Gharged with governance around actu81 and potential lrtigation and Claims". Enquiry of management about any instances of non-compliance with laws and regulations,. Reviewing the control systems in place and lesling the effectiveness of the eonlrols.. Perfom)ing audit work over the risk of management overrkye of controls, including testing of journal entries and other adjustments for appropriateness., Evaluating the business rationale of significant transaetions outside the normal course of bu$inoss'. Reviewing accounting eslimales for bi3$', Challenging assumptions and judgements made by management and Trustees on significant accounting eslimales., Reviewing minutes of meetings of those charged with governance., and Reviewing financial statement disclosures and testing lo supporting dUmentation lo assess compliance with applicable laws and regulations. Because of the inherent limrtalions of an audit, there is a risk that we will not delecl all irregularit$, including those leading lo a material misslalement in the financial statements or non-compliance with regulation. Thi5 risk increases the more that compliance wlh a law or regulation is removed from the events and transactions reflected in the financial slalemenls, as we will be less likely lo become aware ol instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraucl rather than error, as fraud involves intentional ¢on¢ealmenl, forgery, collusion, omission or misrepresenlalion. A further descrtption of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website al.. www.frc.or . uklaudi(orsres onsibililies. This description forms part of our Auditors. Report. Page10
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA INDIAN STUDENT HOSTEL ICONTINUEDI Use ofour report This report is made solely to the eharilable companls Members. as a body, in accordance wlh Chapter 3 of Part 16 of the Companie5 Act 2006, and lo the charitable companls Trustees, as a body, Part 4 of the Charities IA¢coun15 and Report51 Regulations 2008. Our audit work has been undertaken so that we might slate to the charitable company's Members those matters we are required lo stale to them In an Audrtors, Report and for no other purpose. To the fullest exlenl pemiitted by law, we do nel accept or assume responsibilty to anyone other than the charitable company and ils Members, as 3 body, for our audit work, for this report, or for the opinions we have formed. Stuart McKay Bsc FCA DChA (Senlor Statutory Auditor) for and on behaw of MHA Slatulory Audiior London, United Kingdom Date.. 1911212023 MHA is the trading narlle of Maclnlyre Hudson LLP, a limited liability partnership in England and Wales Iregislered nurnber OC3123131. Page11
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarante9) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPOPATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted funds 2023 Total funds 2023 Tolal funds 2022 Not8 Incomo from: Donations and grants Charitable activrties Other trading aclivilies.. Fundraising Trading activities Investments 8.521 1,102,958 8.521 1.102.958 112,953 762,593 7.127 1,427,392 9,747 7,127 1,427,392 9,747 9, 167 737,120 36 Total Income 2,5SS,745 2,555,745 1,621, 869 EXpendItu on- Trading operations Charitable activities 191,392 2.047.6 191.392 2.047.566 139,512 1,627,293 Total expenditure 2,238,958 2,238,958 1, 760, 805 Net movement in funds 316,787 316,787 (138,936) Reconclliation of funds.. Total funds brought forward Nel movement In funds 3,905,529 316.787 3,905,529 316,787 4,044,465 (138,936) Total funds Caled forward 4,222,316 4,222.316 3,905,529 The Consolidated Slalernent of Financial Activities includes all gains and losses recognised in the year. The notes on pages 16 to 35 form part of these fnanCIal slalements. Page 12
YMCA INDIAN STUDENT HOSTEL {A Company Llmited by Guarantee) REGISTERED NUMBER: 08684425 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023 2023 2023 2022 2022 Note Fixed assets Tangible assets 15 3.330,926 3,449,845 3,330,926 3,449,845 Current assots Stocks Debtors.. Amounts falling due within one year Cash al bank and in hand 3.070 139,232 1.375,432 4,062 125,376 908, 640 17 23 1,517,734 1,038.078 Credrtors.. Amounts falling due within one year 18 1522.1771 (428,227) Net current assets 995,557 609,851 Total assets less Current Ilablllties 4,326,483 4,059, 696 Creditors.. Amounts falling due after more than on8 year 19 {104,1671 (154, 167J Total net assets 4,222,316 3,905, 529 Group funds Unreslricled funds 20 4,222,316 3,905,529 Total funds 4,222,316 3,905,529 The Trustees acknowledge their responsibilitie$ for Complying with the requirements of the Companies Act 2006 wf(h respe¢l lo accounting records and preparation of financial slalemenls. The financial statements have been prepared in accordance with the provisions applicable lo enlilies subject lo the small Companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Justice Jacob Benjamln Koshy Chairman Dale. 02112123 The notes on page5 16 to 35 form part of these financial slalements. Page13
YMCA INDIAN STUDEfrif HOSTEL IA Company Limited by Guarantee) REGISTERED NUMBER: 08684425 CHARITY BALANCE SHEET AS AT 31 MARCH 2023 2023 2023 2022 2022 Note Flxed assgts Tangible assets Investments 15 3,330,926 3,449.845 16 3,330,927 3,449,846 Current a$$gts stocks 3,070 775,335 639,325 4.062 822, 109 131,041 Debtors.. Amounts falling due wthin one year Cash al bank and iri hand 17 1,417,730 1422,1741 957,212 Creditors.. Amounts falling due within one year 18 (347,362J Net Current assets 995,556 609,89) Totsl assets less current liabilitles 4,326,483 4,059,696 Credrtors.. Amounts falling due after more than one year 19 1104,1671 (154, 167) Total net assets 4,222,316 3,905,529 Charity funds Unrestricted funds 20 4,222,316 3.905,529 Total funds 4.222.316 3,905,529 The Charity's nel movement in funds the year was £316,787 (2022. £(138, 936)). The Tnjslees ackn¢edge their responsibilities for complying with the qUirements of the Compan*s Aet 2006 with respect to a¢counling records and preparation of financial slalements. The financial slalemenls have been prepared in accordance with the provisions applicable to entities subject lo the small companies regime. The tinancial statements We approved and authorised for issue by the Trustees and signed on their behalf by.. Justlce Jacob Benjamin Ko¥hy Chairman Dale 0211212023 The notes on pages 16 to 35 form part of these financial slatemenls. Page 14
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantèe) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Note Cash flows from operating activities Net cash used in operating aclivilEs 22 580.043 186, 168 Cash flows from invosting activitie$ Interest incomg Purchase ol tangible fixed assets 9,747 1122.9981 36 f71,340) 15 Net cash usgd in invgsting activitigs 1113.2511 171,304} Change in cash and cash equivalents in the year Cash and cash equivalents al the beginning of thg year 466,792 114.864 908,640 793, 776 Cash and cash equivalents at the end of the year 23 1,375.432 908,640 The notes on pages 18 to 35 fom part of these financial statements Page15
YMCA INDIAN STUDENT HOSTEL {A Company Llmlted by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 General Inforniatlon YMCA Indian Sludenl Hostel is a chaiilable company limited by guarantee and is gisted with the Registrar of Companies Icompany Registered Number.. 086844251 and the Charity Commission (Charity R$gistgred Number. 11542481 in England and Wales. In the event of the Group being wound up, the liabilty in respect of the guarantee is limited lo £1 per member of the GTQUP. The address of the registered office is given in the Group information on page 1 of these financial statements. The Charity operations and principal activities are the provision of hosl$l accommodation and the advancement of learning through training. Accounting policies 2.1 Basis of preparation of financial slatgments The financial $18temenl$ have been prepared in accordance wth the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities prepang their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. YMCA Indian Student Hostel meets the definition of a public benefit enlrty under FRS 102. Assets and liabilities are Initial recognised at historical eosl or transaction value unless olhetwse staled in the relevant accounting policy.The financial statements are propared in sterfing which is the functional and presentational currency of the Group and are rounded lo the nearest pound. The Consolidated Statement of Financial Acliv((ies ISOFAI and Consolidated BaL8n¢e Sheet consolidate the financial statements of the Charity and ils subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed Ltnder section 408 of the Companies Act 2006 and has not presented ils own Statement of Financial Activities in these financial slalementg. 2.2 Going concern The Trustees have assessed the use of going concern and have consKlered possible even15 OT conditions that might cast significant doubl on the ability of the Group lo continue as a going concern. The Trustees have made this assessment for a period of al least one year from the dale of the approval of these finsncial st8lemenls. The Trustees have cgncluded that there is a reasonable expeGtation that the Group has adequate resources to Continue in operational existence for the foreseeable future. The Group therefore continues to adopt the goin9 concern basis in preparing these financkol stalemenls. and is not aware of any material uncertainties over its ability lo continue as a going concern. The Trustees are not aware of any post balance sheet events which woulcl have a material impact on these financial slalemenls. Page 16
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policie5 Icontinuedl 2.3 Income All inwme is recognised once the Char¢ly has entillemenl lo the income. il Ys probable that the income will be received and the amount of income receivable can be measufed reliably. For legacies, enlillemenl is tsken as the earlier of the dale on which either.. the charrty is aw8re that probate has been granted, the estate has been finalised and nolificalion has been made by the execulorlsl lo the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part. is onty considered probable when the amount can be measured reliably and the charity has been notified of the exe¢ulor's intention to make a dislribulion. Where le9acies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition h8ve not been mel, then the legacy Is treated a5 a contingent asset and disclosed if material. Grants are ineluded in the Consolidated Statement of Financial Adivilies on a recewable basis. The balance of Income received for specifi¢ purposes bul not exptrnded during the period is Shown in the relevant funds on the Balance Sheet. Where income is received in advance of enti(lernenl of receipt. ils recognitron is deferred and inclulled in credrtors as deferred income. Where enlillemenl occurs before income is received, the income is accnJed. Gift5 in kind donated for distribution are included al valuation and re¢ognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value lo the charty where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunle&rs. Donated services or facilities are recognised when the charty has control ovef the item, any conditions associated with the donated item have been met, the reIpl of economic benefit from the use of the charrty of the item 15 probable and that economic benefit can be measured reliably. In accordanee with the Charities SORP IFRS 1021. the general volunteer time of the FTiends is not recognised and refer to the Trustees, report for more infom)alion about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the grft lo the ¢harily which is the amount the ctiarity would have been willing lo pay lo obtain senrices or facilities of equivalent economic benefit on the open market. a corresponding amount is then Cognised in expenditure in the period of receipt. Income lax recoverable in relation lo investment income is Conised al the lime the investment income is receivable. Rondoring of services Revenue from a contract lo provide semces is recognised in the period in which the servi¢es are provided in accordance wrth the stage of completion of the contract when all of the following ondrtions are satisfied.. the amount of revenue can be measured reliably.. it is probable that the Company will receive the consideration due under the conlfacl", the stage of ¢ompleliL)n of the eonlracl al the end of the reporting period can be rneasured reliably", and the costs incurred and the costs to complete the Contract can be measured reliably. Page 17
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies {continu8dl 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is ¢las5ified by aclivrty. The costs of each aclivty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activty. Direct costs atlribulable lo a single activity are allocated directly to that activity. Shared costs which contribute lo more than one adivily and support costs which are not attributable to a single actiVSty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime Spent, and depreciation charges allocated on the portion of the asset's use. ExpendK(ure on raising funds includes all expendrture incurred by the Group to raise funrls for its charitable purposes and includes costs of all fundraising adivilies events and non<harrtable trading. Expenditure on charitable activtties 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 Government grants Government grants relating to tangible fixed assets are Ireat¢d as defsrrod income and feleased lo the Consolidated Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credf(ed lo the Consolidated Statement of Financial Aclivrtie5 as the related expenditure is incurred. 2.6 Interest receivable Interest on funds herd on deposit is included when receivable and the amount can be measured reliably by the Group". this is normally upon nolificalion of the interest paid or payable by the inslrtulion with whom the funds are dep0511ed. 2.7 Tan9ibl¢ fixgd as$gts and depreCIaOn Tangible fixed assets costing £500 or more are caprtalisfyd and rgcognised when future economic benèfits are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets are initialty recogni5ed al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulalod depreciation and any accumulated impairment losse5. All costs incurred lo bring a tangible fixed asset into ils intended working condition Shou be included in the measurement of cost. Page 18
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting poli¢le$ Icontinuedl 2.7 Tanglble fixed assets and depreciation (continued Depreciation is charged $0 as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the slraighl-line method. Depreciation is provided on the followng bases.. Freehold propety Freehold land Plant and machinery Fixtu$ and fittings Other fixed assets 2QA Slraighl line Not depreciated 200/0 Slraighl line 200/. Slraighl line 2.8 Investments Fixed asset investments are a fomi of financial instrument and are inili81ty recognised at their transaction cost and subsequently measured al fair value al the Balance Sheet dale, unless the value eannot be measured reliably in which case il is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLos$es} on inveslmenls. in the Consolidated Slalement of Financial Aclivilies. Investments in subsidiarie5 are valued al cost less provision for impaimenl. 2.9 Stocks Stocks are valued al the lower of cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all difecl costs and an appropriate proportion of fixed and variable overheads. 2.10 Debtors Trade and other debtors are recognised al th& selllemenl amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts duo. 2.11 Cash at bank and in hand Cash al bank and in hanol illcludes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 19
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (continued) 2.12 Liabilities and provlsions Liabilf(i6s are recognised when there 15 an obligation at the Balance She91 date as a r$$utt of a past event, il is probable that a Irallsfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably. Liabilities are recognised al the amount that the Charity anlicipales il will pay lo settle the debt or the amount Il has re¢eive(i as advanced payments for the goods or services il must provid&. Prowsions are measured al the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discoLJnled at the pre-tax discount rale that refleels the nsks specific lo the liabilty. The unwinding of the discount is recognised in the Consolidated Slalemenl of Financial Activities as a finance cost. 2.13 Financial instruments The GTOUP only has financial assets and financlal liabilities of a kind that qualrfy as basi¢ financial inslrumenls. Basic financrdl instruments are initially recognised at transaction value and subsequently measured al their 5ettlernenl value with the exception of bank loans which are subsequently measured at amortised cost using the eff$clive interest method. 2.14 Pensions The Group operates a defined contribution pension scherne and the pension charge represents the amounts payable by the Group lo the fund in respect of the year. 2.15 Fund a¢¢ounting Genèral funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for othe purposes. Designated funds comprise ynreslricled fund5 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 stslements. Surpluses on designated funds on projects are funded from unrestricted funds. Restricted funds are funds which are lo be used in accordance with specrfic reslriclions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such fund5 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 and1055es are alloealed lo the appropriate fund. Page 20
YMCA INDIAN STUDENT HOSTEL {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Critical accounting estimat¢s and areas of ludgement Eslimales and judgements ale continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the circum51ances. Critical accounting estimates and assumptions.. The Charity makes eslimales and assumptions concerning the future. The resulting accounting estimates and assumptions wll, by definition, seldom equal the related actual results. The eslimales and assumptions that have a signifi¢anl risk of ¢au5ing a material adjuslmgnl lo the carrying amounts of assets and liabilities within the next financial year are discussed below. Depreciation rates for tangible fixed assets Ineome from donations and grants Unrostricted funds 2023 Total funds 2023 Donations 8,521 8.521 Included within the Grants above are Government grants of £Nil (2022 - £111,553). Of these total Government grants. £Nil (2022 - £8T,553) related lo the Coronavirus Job Retention S¢heme and £Nil [2022 - £24,000) relatfjd lo Camden Council. There were no unfulfilled conditions attached lo these Government grants as at erther year end. unstn¢1ed funds 2022 To181 funds 2022 Donations Grants 1,400 111,553 1,400 111,553 112,953 112,953 Page 21
YMCA INDIAN STUDENT HOSTEL IA Company Limtted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Fundraising income Unrestrl¢ted funds 2023 Total funds 2023 Other fundraising income 7,127 7.127 Unr&slricted funds 2022 Total funds 2022 Other fundraising income 9, 167 9, 167 Tradlng actlvltles YMCA Indian Student Hostel has a wholly owned trading subsidiary, YMCA ISH Tradin9 Limited, 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 ol the parent Charity. A summ8ry of the trading resuit5 IS shown below. Audited accounts for YMCA ISH Trading Limited will be filed w(th the Registrar of Companies. 2023 2022 YMCA ISH Trading Limited Turnover 1,427,392 737, 120 1782.7951 (586,327) Cost of sales Gross PTof1t Administrative costs 644,597 150, 793 1191,3921 (139.512) Proflt on ordinary activities Distribution - donation lo parent company 453,205 1453,2051 11.281 (11,281) Retained in the subsidiary The consolidated Statement of Financial ActThiities includes the results of the subsidiary and those of the parent Charity. The unconsolidaled surplus of YMCA ISH Trading Limited for the year ended 31 March 2023 was £453,205 f2022- £11.281). Page 22
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Investment income Unrestrlcted funds 2023 Total funds 2023 Interest income 9,747 9,747 Unreslricled funds 2022 Total funds 2022 Interest income 36 36 Page 23
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantael NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from charitable act1v1&S Unrestricted funds 2023 Total funds 2023 Room rent Mea15 Membership fees Inl$rnel inwme 1,086,82S 4,303 9,128 2,701 1,086.826 4,303 9,128 2,701 1,102,958 1.102,958 Uns1ncled funds 2022 Total funds 2022 Room nt Meals 7,815 3,560 5, 585 2, 833 750,615 3, 560 5.585 2,833 Membership fees Internel income 762,593 762,593 Pe 24
YMCA INDIAN STUDENT HOSTEL IA Company Llmited by Guarant9el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Expenditure on raising funds Unrestricted fund$ 2023 Total funds 2023 Expenditu on ITading operations 191,392 191,392 unStrICted funds 2022 Total funds 2022 Expenditure on trading operations 139,512 139,512 Page 25
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Analysis of expenditure on charitable activities - by fund Unr9Strl¢ted funds 2023 Total funds 2023 Room rent Meals 1,128,Q52 736.687 182,827 1,128,052 736,687 182.827 Support costs 2,047,566 2,047,566 Untvslricled funds 2022 Total funds 2022 Room rent 980, 732 492.681 147,880 980, 732 492,681 747,880 Meals Support costs 1.621,293 1,621,293 Page 26
YMCA INOIAN STUDENT HOSTEL (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. Analysis of expenditure on charitable activities- by type Activltles undertake directly 2023 Support costs 2023 Total funds 2023 Room rent Meals Support costs 1,128,052 736,687 1.128.052 736,687 182,827 182,827 9.864.739 182,827 2,047,566 Aclivi11gS undertaken dI¢11Y 2022 Support costs 2022 rolal funds 2022 Room rent Meals Support costs 980, 732 492,681 980, 732 492,681 147,880 t47,880 1.473.413 147.880 1.621.293 Analysis of support COSts Total funds 2023 To181 funds 2022 Staff costs 45,654 31,449 35,S60 70,1fj4 42,472 36,348 15, 779 53,341 Depreciation Governance c05t5 Olhors 182.827 147, 880 Page 27
YMCA INDIAN STUDENT HOSTEL IA Company Llmmed by Guarante6) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Governan¢e ¢o$ts 2023 2022 Auditors, remuneration Audit of the financial slalemenls Icharily onlyl Auditors, remuneration Accounts preparation Icharity only) Auditors, remuneration - Over-a¢crual in prior year Icharily only) Trustees expense5 9,950 3,000 17741 23,384 8, 500 2, 750 4,469 35.560 15, 719 The audit fee of the subsidiary company of £4,950 {2022 - £4,000). the a¢counts preparation fee of £1,500 (2022 - £1,250) and corporation lax services of £1,600 (2022 - £7,500) are included in the adminislralive costs of YMCA ISH Trading Limited lolalling £191,392 (2022- £739, 106} (Note 61. 13. Staff costs Group 2023 Group 2022 Charlty 2023 Charity 2022 Wages and salaries Social security costs Pension costs 800,391 73,372 20,052 669, 660 56,441 Y8,342 744,388 69,230 19,419 630,801 54, T41 17,872 893,815 744,443 833,037 703,414 The average number of persons employed by the Charity during the year was as follows.. Group 2023 Group 2022 No. Charity 2023 No. Charily 2022 No. Direct charitsble 26 23 23 20 Management and administration 33 30 27 No employee received remuneration amounting lo more than £60,000 in either year. Key Management Personnel are considered lo be the Trustees and the General SeClanes. The lolal remuneration fr>r Key Management PeT50nnel was £68.297 (2022- £63,521). Page 28
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. Trustees, remunaration and gxpenses During the year, no Trustees received any remuneration or other benefits (2022- £NILJ. During the year ended 31 March 2023, travel experlses lotalling £23,384 were reimbursed or paid direcdy to 6 Trustees (2022- £4,469 10 3 Tfustees). 15. Tangible fixed assets Group and Charlty Assets Plant and Fixtures and under machinery fittings construction Freehold Property Total Cost or valuatlon Al 1 April 2022 Additions Disposals 4,644.998 1,709.241 72,443 11.546.785) 11,603,295) 267,653 8.700 1263,8841 6.621.892 122.998 13,413.964} 41.855 At 31 March 2023 3,098,213 178,389 12,469 41,855 3,330,926 At 1 April 2022 Charge for the year On disposals 1,454,070 1.461,599 92,715 141.696 11,$46,7851 11,603.295 256,378 7,506 1263,8841 3,172.047 241,917 13,413,964) Al 31 March 2023 Net book value At 31 March 2023 3,098,213 178,389 12,469 41.855 3,330.926 At 37 Mah 2022 3, 190,928 247,642 f 1,275 3,449,845 Page 29
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Fixed asset Invostments Investments in subsidiary companies Charity Market Value Al l April 2022 Al 31 March 2023 The company has one share in tts subsidiary Company, YMCA ISH Trading Limited. YMCA ISH Trading Limited carries out the non-charitable activities of the group. Details of YMCA ISH Trading Limited are in Note 6. 17. Dobtors Group 2023 Group 2022 Charity 2023 Charily 2022 Due withln one year Trade debtors Amounts owed by group undertakings Other debtors Propaymenls and accrued income 41,496 24,501 689.925 72t, 285 5, T58 95,066 6,258 94,617 97.736 85.410 139,232 125,376 775,335 822, f 09 Page 30
YMCA INDIAN STUDENT HOSTEL IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Creditors: Amounts falling due within on& yoar Group 2023 Group 2022 Charity 2023 Charity 2022 Bank overdrafts Bank loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income 10.7S3 so.000 211,925 33,322 23,183 192,994 3,449 50,000 190, 100 11,780 22,062 150,836 10,753 50.000 184,667 33,322 22.144 121.288 3,449 50,000 167,401 11,780 20,081 94.651 522.177 428.227 422.174 347,362 Group 2023 Gmup 2022 Charity 2023 Charity 2022 Deferred income at 1 April 2022 Resources deferred during the year Amounts released from previous periods 99.191 134.S10 {99,1911 31.225 99. 191 {3f,225) 54.331 78,438 {$4,331) 31.225 54,33t (31,225) 134,610 99. 191 78,438 54.331 19. Creditors: Amounts falling due aftei more than one year Group 2023 Group 2022 Charity 2023 Charify 2022 Bank loans 104.167 754. 167 104.167 154, 167 Page 31
YMCA INDIAN STUDENT HOSTEL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. Statement of funds ststemont of funds- current year Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure Unrestrlcted funds General Fund 3.905,529 2,555,745 I2,238,958I 4,222,316 Statement of funds - prlor year 8alance al 31 March 2022 Balance al 1 April 2021 Transfers in/oul Income Expenditure Unrestricted funds Designated fund$ Designated Fund - Maintenance fund 1,000,000 (Y,O(X).OOOJ Ggneral funds General Fund 3,044,465 1,621,869 (7, 760,805) 1,000,000 3,905,529 Total Unrestrlcted funds 4,044,465 1,621,869 11,760, 805) 3,905.529 Pag& 32
YMCA INDIAN STUDENT HOSTEL {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Analysls of net assets belJveen funds Analy$ls of net assets between funds - current year Unrestricted funds 2023 Total funds 2023 T8ngible fixed assets Current assets Creditors due within one year Creditors due in more than one year 3,330,926 3.330.926 1.518,426 1,518,426 1522,8691 1522.8691 1104,1671 1104,167} Total 4.222,316 4,222,316 Analysls of net a$$9ts between funds - prior year Unrestricted funds 2022 Total fvnds 2022 Tangible fixed assets Current assets Creditors due within one year Craditors due in more than one year 3,449.845 1.038,078 (428,227) (754, 167) 3,449, 845 1,038,078 (428,227) (154, 167? Totsl 3,905,529 3,905,529 Page 33
YMCA INDIAN STUDENT HOSTEL IA Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Reconciliation of net movement in fLFnds to net cash flow from operating activities Group 2023 Group 2022 Net incomelexpenditure lor the year las per Slaloment of Financial Activiliesl 316,787 f138,936J Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease in stocks {Increasel in debtors Increase in creditor5 15 241.917 19.7471 992 113,8561 43,950 279,600 {36) 489 (61,069J 106, 120 17 18,19 Net cash provided by 0ratIng activitiès 580,043 786. 168 23. Analysi$ of cash and cash equivalents Group 2023 Group 2022 Cash in hand 1.375.432 908,640 Total cash and cash eqLEivalents 1.375.432 908.640 24. Analysis of changes In net debt At 1 April 2022 Cash flow5 At 31 March 2023 Cash al bank and in hand Bank overdrafts repayable on demand Debt due within 1 year Debt due after 1 year 908.640 13A491 150,0001 1154,1671 466,792 {7.3041 1,375,432 110,7531 Iso,iJooi 1104,167) 50.000 701.024 509,488 1,210.512 Page 34
YMCA INDIAN STUDENT HOSTEL IA Company Limitsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 25. Pènsion ¢ommitment$ The Charity operates a defined contribution pension scheme. The 8ssels 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 amounted lo £20,052 [2022 - £18,342). Contributions lotalling £NIL (2022- £NIL) were payable ID the fund at the year end. 26. Related party transactions Thore were no r&laled party transactions in either year, other than the Key Management Personnel remuneration, as detailed in Note 13. Page 35