C harity registration nuinber.. 249198 Danish Young Women's Christian Association in London Annual Report and Financial Statements for the Year Ended 31 March 2024
Contents Refereiice and Admiiiistrative Details................................... Trustee5' Repor(.............. Independent Audiioy's Repoit.... Stateinent ol. Fii)ai)¢ial Activities 10 Balaiice Sl)eet. Notes to the Financial Slateinents............
Danish Young Women's Christian Association in London Relerence and Administrative Details Ch*rity Registration Number: 249198 PRtron- Her Royal Highness Pi'incess Benedikie of D¢ninark Pre5idenl: Vacant CustodiAn trustee: The OtTicial Cuslodi8n for Charitie5 BoArd: Mr S Rosenfalck (Chairl fvlrs K Ivlaibom Rl (resigned l Januaiy ?0941 IT5 A Raill Iresigned I lanuliry ?0241 Mr F Kloster Poulsen Iresigiied l October ?0231 Ms TN, Bigbie Ms M Moller Mr K Hansen lappoinled 5 March 20241 Mr C Orlyk lappoinled 5 Mar¢h 20?41 Ms S Kenncdy lappoinied 5 Imarcli 20241 Mr5 A Biuun Iresigned l June 20231 Mr P Ahm ITreasuTerl Warden: C Y Jantzen Address: 43 Mare5field Gardens Hampstead London NW3 5TF Auditor5: Bourner Bullock Chartered A¢counydnts 114 St lartin'S Laii¢ Covent Garden London WC2N 4BE Wtbslt¢'. www.kfuk.¢o.uk
Danish Young Women's Christian Association in London Tru5tees' Report for the Year Ended 31 March 2024 I. STRUC.TURE, GOVERNANCE AND MANAGEMEFIT Gowerning Document Tlie Cliarity is regkilaied by the Rules daied 14 March ?007 and Deeds of Trust dated 30 Seplember 1958 atid 25 Api'il 1966. OrgAni5ational Strueture The Charity is by a board of between five aiid nin¢ individuals who speak Danisli and live in England. Tlie board el¢¢is the Chair. Vice Chair and Honorary Treasurer wnongist itself. The offices of Chair aiid Honoraiy Ireasurei. canthtsi be Carried out by the same person. Th¢ Danish YWCA in London is represented oil The Danish Chiirch Londoii's Comniitt¢e and the l'ector Ipriestl al the same church is on the boaTd of the Danish YWCA. The a5sociaiioD of Danskc Soemands- og Ldland5kirker IDSUKI, sn ¢unjunciion witli tlie board, ¢mploys a Ward¢n who ovcr5ees tlie daily nionagcmet)t of ihe Chariry. Since ?020, the Charity'5 propenies have been registered in Ilie name of The Offhcial Custodian for Charities. This has two advantages.. tlie Charity is saved the expense of making the new deeds required when i15 holdin8 Irustec5 change. there 15 no risk Ihai the Charity'5 land will reniain vested in people who are no longer involved with the Charity and who Inay be dirficult lo trace. The Official Custodian cannot take part in managing land vested in himlher. The Charity trustees keep all th¢ powers aiid duties of tTraDagement. Decision Making The principal prucedures of Ilie Charity are set out in the Governing Docuin¢rti. The Warden is in charge of the daily malgeMen1 of ihe Charity and all other decision rnaking is vested in the board. R¢truitment and Appointmtnt of New Trustees The id¢n¢ilication of potential new Danish 5Ptaking trusiees is carried out by the board, lh¢ aiiii bein8 to recommeiid for appointinertt those witl) exp¢rti5e appropriale to carry out tlie ChaTity'5 work. Risk Assessment The rnajor risks 10 which the Charity is exposed, as ideniified by Ihe Trustees. are regularly monitored and systems have been established to miiigaie those risk5. OBJECTIVES AND AcfiviTI£S Object Thc Danish YWCA is a branch of DSUK. In conjunction with the Danish National Church and on Evangelical-Lui1iera basis, it aims to spread the word tsfihe Gospel and lo ei)courage young Daiies lo take part in Christian community lile among Danes in London. Activities 'Fhis is achieved by ¢re4ling a Christian home, where young Danes can live and coiiie freely to seek adviee and guidaiice. aiid by poin1118 Ili¢ni in ihe direction of the Danish Churcli in London. The Charity holds a prLTiiary hostel al MaTesft¢ld Garden5 providing up to 60 beds. and lo flats with a view 10 letting these on a 5110rt-lel ba51S to postgraduate Danish %tudentS.
Publit beneflt The Trustees confirm that Ih¢y have Lumpli¢d with thc requiremenis of seciioii 4 of the Charitie5 Act ?01 I to have dLl¢ regard io ¢lie publiL ben¢fil kjuidaiice publislied by the Chariiy Cominission IL)I' Engiland and Wales. 3. ACHIEVEMENTS AND PERFORMANCE Iii the Teceiil fiiianLial year, the hostel slarled to se¢ a new nornial in our occupancy. During the autumn ierm the hostel was practically fiill followed by a spring) term with lower occupancy. We are sludyii)gi Ih¢se paiierns 105cly and try lo iise periods with Icss occiipaiicy 51Tategically in our plans for ilie fLilure in order to use oui. capacity io Il)e IMaYTmum. The occupancy rate increased lo 67QA in av¢rdge l?023.' 61 Vul. The Chariiy tswns 10 Studio flats th411 Laii b¢ rented by Danish siudenis MporarilY on a Study vi51t in the L.K. Tli¢ applications al'e reviewed by. aiid the flais are otTered by. a selection cominittee in Deiimark on ilie basis of a sel of crilei'ia. lji the last round of applicaiions in May ?093, 53 students applied. Amotiy them 10 siudenis were s¢l¢cied. Since Brexil ha5 effectively changed thc conditions foi. youth i#obility between Dcninai'k and UK a new sli'aiegy for the Charity was developed and approved by the board in August ?0?? The new strategy aim8 to develop progi'ammes Ihal will attract young Daiiisli adulls to Iravel to London and slay al our hostel. We are especially largetingyoung Dancs on a gap year, whom by tradition spend a year Iravelling ihe world io enhance life and job skills before ¢Olllinuing 10 study. It) August 20?4 we are testing a new eontepl b¢ised on the Daiiish idea of the Folk High School. IS young Danes will get thc chance to ¢xpcri¢n¢e the Danish Folk High School Iradilion iii th¢ sei¢ing ofone of the most ¢uliurally div¢T5e cities in the world.. London. In the past year we have had the great joy of involvin¥J volunieers in a large number. Aitsund 200 volunteers have contributed 10 the c.harity throughout the year. 'I'he largest number of volunt¢er5 have been engatsyed in the yearly Christmas Bazaar. A sinalleT number of general volunteers have supported in different ways lo the daily running of the hostel. Helping wtth youth activities, preparaiion and seiwing of mea15. SUPPOrting.wcio1 life ainurtg Siden1$ and contributing to Social Media content. Recruitm¢nt, coordinaiion, and 5UPPOrt of our voliintcer5 ha5 high priority in the Charity. -I'hroughoui the year Ihe Charity has employed an average of 6 sraff. The Charity s aim to be a 'home froin home., giving young Danes a warm welcome, a link to the Danish ¢hurcli. and a pleasant and safe place to slay or visit ai reasonable prices, 15 still our overall goal. Throughout the yeai. we have offered many activities and eveiils to our own residenis and to Danish students and young adult5 living c15ewhere in London. We believe we have an iihportant role &s a steppin8slone for Danish Youth, irying to 5ertle in a big city and as a safety net for those who are in need for help and support. In 2023 we worked diligent on ijnproviiig our skills and proeedures wiihin Sufr¥uarding. A150, in ?093 we were able to hold OUT yeai'ly fundraiseT, thr Danish Christrna5 Bazaar. More Ilian 2,000 pcople visited Ilie ba7.aar during the lasi weekend in N'ovember. Ihe lormal orgaiiiLer ofthe bazaar 'FTieiids orth¢ Danish YWCA. managed 10 raise £38,300 foT the Danish YWCA. The link ¢0 Ihe Danish ChuFch in London is made clear to all occupants and the opportunity ¥iven to jointly take part in the Sunday service and other religious and tradiiional holidays throughout (lie year. In ihe past year OilT long-5eTving chair Karen Maibom and vice chair Anne Kaill 5teppcd down from their rol¢s after rnany years of service to Ihe Charity. The board was niade aware of their resignation in gix)d IiTne and was able to rg¢ruit ? new metnb¢rs of ihe board. The new members were coopted in IMar¢h ?024 and will formally be ele¢led at the AGM in June 2024. A rhew Chair Stttn Rosenfalck was elected as well as a vice Chair in Peter Ahill. A150, the fornier pastor of the Danish Church in Lviidun st¢pp¢d down froin the board and was replaced by his successor. A fourth menibcT of the committee signed ill May 2023 due to her planned Telurn to DentnaA(. 4. FINANICAL REVIEW Policy on Rt5ervt5 The cosi of prvviding the facililies io youn¥ Dane5 in London is funded for the greaier part fioni the rental ii1LoiI)e received willi ally shortfall inet by drawing froiii res¢iv¢s. provided Ihat Ili¢ value of the reserves is
iiot (liiniiii91ied Iiiidiily Ilius eiisui'ing the 5usiainability ofihe Charily.-fhe Cliarity aims lo have cash re5evve5 of appruxinialely £50,000. As detailcd in noie 14 of the financial stateiiienis. during Ihe year, Ihe Trustees liave reviewed tlie fund5 held by Ilie Cliarity. This inLluded a detailed review of reslricled funds, aiid desi¥naied fuiids. As of31 March ?0?4. total unresiricled flind5 anioiinted to £.7,054.5?6. Within unreslricled funds. tlieit are dLsig*nated funds of £?,849,18 whicli is Inade up of £2.544..100 prop¢rry. £41,467 Fixiures and Fittings and £304.879 of funds held io cover future maiiilenaiice ¢0$15 of the buildiiig. £?05,345 reiiiaiiis iii general unreslricled fund5. In line witl) lh¢ reserves policy, Ihere were iio restricted reserves as al Iht yeai" end. The Trusices coiisider that IheiT fit¢ reserves would allow thein 10 Colilinue Iheir aciivilies to meet iheir Chai'itable objectives foi. a period of appro.¥imaiely 3 months. should Iheii- incoining resources d¢ii'¢ase sigilifiLnIIy. However. oilier SOLirce5 of ¢m¢r¥)eii¢y fuiiding can be considei'ed including donations froii) cotnpanits 5ympaiheiic 1¢> Ihe objective5 ofilie Charity and realluialin¥ iht Desigiialed currenl asset5. Financial Summxry The iiicome during the year amounted to £485 17512023.. £429.02?). The hosiel's r¢ceipis iiicreased lo £278,19912093.. £253.4531 reflecting a 67°/012023.. 610/•l octupancy rate. Total expendilurc amouiiltd to £554,681 lin¢luding exceptional items) IY023'. £444,114) with 0n¢11tatIOn of business raies and council taxes togeiher with %alaries and cosi of living increasrs being the main reason for these changes. Ri$k$ The trustees have carried out a Risk Assessment for the Charity in general, for management of our main building, for Staff Mi anageinent aiid for Safeguarding. The risks identified below are the o¢)es ¢on$idered the osl 5ignifJ¢anl from the risk register. BREXIT Brexit continues ro pose a challenge 10 the operaiion of the Charity both in terffls olthe ability lo rEGTUIt btaff rrtsm Denmark due lo difficuliLe5 Qbiatning visas and also in relation lo tht curTent1o¢k of youth mobility. FOREIGN EXCHANGE Whilst the visitors to the hostel are fi'om Denmark, as the Chariry largely operate5 in Sierling, wilh all rental income and h051el receipts beinuy in Sterling, Ihe iiusiees do not consider (he C'liarity to be significantly exposed to the effects of fluctuating ¢xrhartge rates as il has been seen in the st yeaT5. ENERGY COSTS The Charity hhs eoniinued lo mitigate the peak of eneTgy prices during the year by an earlier 3 year lock-in with a major supplier. This 3 year terin conLludes iii the middle of Ihe ne.xt financial year so furtlier options have been ¢ot)sidei'ed to avoid similar spikes in eiiergy prices. 'fhe Charity has also tsken steps lo rcduce ¢onsllmplion includiiig the opiimi&qlion and decommissioning of htst water ianks. COSI. OF LIVIN'fi CRISIS Like the rest of swiety. the Charity is facing increased prices oij alinost all expenses relatiiig to the day.to- day running of the business. Most significant 15 IhE pri¢¢ of food which by the start of this financial year had lll¢reosed by ?OYo Co[npt lo previous years bul has since gone dowii to an av¢rage of 70/0 during the last year. Since providing of breakfast and oilicr mea15 are a ¢OTe service for the hostel. significant increa5e5 like Ihes¢ ¢an lead to a challenge in keeping to the budget iii ihis area. STAFF The itnmigraiion law5 following Brexit have effeclively made it impossible to hire non-skilled worker$ 10 our Charity from Denmark as has been praciised for many years. wh¢ir young Dancs woiild work half R year for the C-harity. At the same time, Should we wtsh 10 employ local sraff. this ha5 pruved lu be vtry diificult bcLau5e of a lack of workforce in the h05pi¢aliiy se¢ior in London. The siaff situation ul the Charity is therefore
vulnerable with fewer staff lo caiyy out the day-to-day work al the hostel, where occupancy is expected io go up iii Ilie coming years. BL'SINESS RATES I COUNCIL TAX rollowing a recominendaiiun froiii previou5 audi15, Ilie boai'd liave iTivesligaied the requir¢men¢s for paymeni of Business Rates instead of previou%ly advised Council Tax. Contact was niade with Camden Coun¢il aiid, following di.%cu%sions, reviews aiid a visit 10 the hostel. the Valuation Office have provided input to Cainden Council. The Council hdve th¢refoi't issued Busincss Raiescalcularions up to date and the ChaTsty have applied for rtpayikneiii of Council lax over the sanie period. The n¢1 ijnpa¢i to the Cliariiy 15 nul considered material and is likely 10 See a rediiction in costs for ilie next fiiiancial year. Tliis i-isk 15 theitfure c0115idered closed. 5. PLANS FOR FIJTIJRE PERIODS A budgei for the FY24125 was approved by tlie board in the first quarter of ?0?4. The trusttts expect Ilie occupaiicy lo inciease furihei. in Ihe coininbyear bLlI liave still an ungoing focus vn conti'ollingT operatiiig costs. Buildiiig iiiainlet)aiice of Ilie various buildings Is again a p¥ivrity foi- the Charity in order to make sure Il)ai our properties are well maiiilained and iiicet the legal I'equireiiienls. A new sirai¢gy for 2023-25 is in place and focused on how lo attract young Danes on a gap year to a short tei"m stay in Lon(loii and al the hostel by providin&? alternative ways to en¥age irt society e.g.. through volunlai'ily work in Brit15h charities. The trustees plan to organist tlie regiilar c.hristmas Bazaar again tlii5 year in close cooper8tton witli"Frieiids ofthe YWCA"
Danish Young Women's Christian Association in London Trustee5' Report for the Year Ended 31 March 2024 Statemeiil of Trustees. responsibilities The tr115tees are r¢5POll5ible for pParing the Annual Report and the finaiicial staleinenls in accordance with applicable law and regulations. The law applicable to Charities in Enbjland & Wales requires ihe Irusiees io prepare fijiancial stslemenls for eacli rinan¢ial year tn accordance wilh Uiiited Kingwdoin Generally Aecepled A¢couniing Practice (United KingTrdoin Accouiilingw Svdn(Idrds and applicable lawl. The trustees niust not appiDve the finan¢i41 sratements unless they are satlsfied that they give a true and fair view of Ilie slate of affairs of thc charity and of the incoming resources and applieaiion of resources. including tlie income and expenditure. of tlie charity for thai period. In prepaTing these financial slatemenls, the tru5tee5 are required 10: al select suitable accounting policies and apply them consisienily: bl observe the methods and principles in the Charities SORP,. ¢1 make judgm¢nls and accounting estimates that are reasonable and prudent,. dl slate whether applicable UK Accounting Standards hav¢ been followed, subject lo any material departures disclosed and explained in the financial statements. ¢1 prepare the financial statements on ihe going coneem basis unless It is inappropriate to presume that the charity will continue to operaie. The trustees are re5pon5ible for keeping sufficient accounlillg records that disclose with reasonable accuracy at any time the financial p051tion of the ¢liarity and enable them to ensure that the financial statement5 comply with the Charitie5 Act 2011, the Charity IA¢¢ounls and Reports) Regulations ?008 and thc provision5 of the trust deed. They are a150 re5POll5ible for safeguarding the assets of the charity aiid hence for taking reasonable step5 for the prevention and detection of fraud and oiher irregularities. In g) far as the trustees are aware.. thei'e is no relevant audil information of which the charity's auditor is unaware- and
the trustees have taken all steps ihai (hey ought to have taken to make tliemselves aware of any relevant audit it]formation and to establish Ihat the auditor is aware of that it)formation. Approved by the Board of Trustees and signed on ils behalf by.. S R05enfalck Date.. ..It.. 0¢.: 7tsT.¢+.....
Danish Youn% Women's Christian Association in London Inclepenilent Audit()r's Report to the trustees Df Danish Young Women'5 Christian Association in Loiido Qpinio We have audited the tinancial 51at¢nieiit5 of Daiiisli Yotiii¥ Won)eii's Christian Associalioji in Lo¢idon (the 'eliai'ity' I foT the yeaT ended 31 March ?0?4 which coinprise the Slalement of finaiicial ActFvttie5 and the Balanee Sheet tuid notes 10 the fiiiancial statements, incliidiiig a sunimary of significant accounting policies.'I'he financial reportin¥ framtwoi'k that has been applied in tlieir preparaiioii is applicable lai¥ and ljniied Kingdoni Accounting Standaids, inLludingi Financial Reporting Siaiidard l O? ThL. Fin(iiiLi(Il Rep()i'iing SiÉiii(lui.d (Ipplic'aljle iii ilie IJA giiicl R¢piibliL' nJ'li'vl(IlFd (United Kiiigdom G¢nerally Accepted Accoujiling Prd¢ti¢¢l. In our opinion, the financial staieinents.. iv¢ a Iriie aiid fail. view of the slal¢ of ihe ¢hariiy's affairs as al 31 March ?094 and of its in¢oniing resouTce5 aiid application of iEsoiirces for the year Ilien ¢nded.. havt been piDperly prepared in accordance with Ulliled Kitigdoin Generally Accepd Accouiiiing Pra¢lie¢: and have been PTepared in accordance with Ilie requii'emenis ol'tht Cliaritie5 Act 2011. Basss for oplllion Wc conducted our audit in accordance with International St8nd&rds on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those staiidaTds air furtlier described in ilie Au(litor'5 ie5pon5ibililie5 tor ilie audit of the financial Slaletnent5 CtIOn of our report. We are independent of the cliarity in accordaiice with ili¢ elht¢al Irquirenients that are relevant to our audTt of ilie financial slaieiiiejils iii tl)e UK. iii¢lu(ling the FRC'S EthiLal Slartdjrd. and we have fiilfilled otjr othei. ethical responsibilitie5 in accordance witli these qUirementS. We believe Iliat ihe audit evidence we have obtained is 5urricient and appropriaie lo provide a ba515 for our opinion. Concluslons r¢latlng to goin¥ cotkeer ltt auditing thc financial stateinents. w¢ have ¢oncluded that the trustees, use i)f the going cottcern ba515 or a¢couniittg in the preparation of the financial statements is appropriate. Based oli the work we have pei'fom¢d, we have not ideniifjed any material uncertainties relating to even15 or conditi011S that. individually or ¢olle¢lively. may ca%t sigiiificant doubl on the ¢liarity's ability to coiilinue as a
oing conLern for a period of ai loasi twelve months from when the financial statemenis are auihorised for issue. Our re5ponsibilitie5 and the responsibilities of Ihe trustces with respect to goin¥ Concern are des¢ribed in the relevant Sections of ihis report. Other Informxtion The other information compris¢5 tlie infonmation included iji ihe annual repoTI othcr than the fiiiancial slalemenis and our audktor's i'eporl Ihereon. The trustees are re$pon5ibl¢ for the oilier information coniained within the annual report. Oui. opinion on the financial slatenients does not ¢over Ihe oiher inforination and, ex¢epi io the ¢xlent oilierwise e.%plieiily slated in our repori, we do not express any forin of assuranLe conclusion thereon. In lnn¢¢I10n willi our audil of the fijiancial slatemenis, our respon5tbility is to read the other inforniaiion and. in doÉnuTr $0. consider whether the other information is rnatertally inconsistent with the financial statemenis OT our knowledge obtained in ihe audit or oiherwise appears to bc materially niisstaied. If we identify such material n¢onsistencies or apparent material misstatements, we arc required to detemine whether ih¢re 15 R material misstatemeni in the financial statcinent5 or a material rnisstaiement of the other iiiforinalion. If, based on the work we havc performed, we ¢on¢lude ihat there is a material misstatement of this other infoTmation. we are required to report that fact. We have nothing io report in this regard.
Danisli Young Women's Christian As50¢iation iji London Independent Auditor's Report to the triistee5 of Danish Young Wnmcii's Chrislian Ass(ILillti()n in London Mattors on whleh we are required to report by txc¢pllo We have noihiii&> lo rewn in re5pecl of the following Inati¢rs in relation io which the Charities (Accouiits and Reports) Regulations ?008 require lis to report ¢0 you if. 111 OUT opinjon: stateinents; or surricieiii accouiiting records have not bten kept.. ov tlTre fiiianclal slatenienls are not in agi'ceii?ent witli tlie accountingi record5 1£ nd Teturns. or we have nol Irceived all tli¢ infoi'niaiion ané e.xplanaiions w¢ require for our audit. Rtsponsibilitits of Iru$lee.s As explained moir fiilly in the (rustees, re5ponsibilthties stateillent Set out on pabje 6 fhe irusttes ale responsible foi- Ilie preparaiion of rhe financial staternenis and roy beiiig satisfied that Ihey give o true and fair wiew, and for such internal contiN)l as ihe tivsiees determine is nccessary io cnable the preparation of fiiianLial statemenis thai are free froin material misstalem¢nt, whether due to fraud or crior. Iii prep&ring the financial 51atemeDt%, tlie trustees are responsible for assessing the cliarity'5 ability to continue as a going concem, disclosing, as applicable, rnatter5 related lo goin¥ ¢vn¢ern and using the going concern basis of accoiinting unless the Iru51ees either iniend io liquidate the charity or to ceh5e operations, oi. havr no realisti altei'nalive bul to dv so. Auditor'5 re5p0115ibilitles for the xudit of the finxNciAI 5tmteelltS We have been appoinied as auditor under section 144 of the Chaiili¢s Act 2011 and report in accordance with the Act and relevan¢ regulations made or having effeci Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial stateEllentS a5 a whole are fTee from niaterial Inisstateillciit, whether diie to f12ud or error. and to Issue an auditor s report thai in¢ludes our opinion. R¢asonabl¢ assurance is a high level of assurance. bul is not a guarantcc that an audit conducted in accordance witll ISAS IUKI wtll always dele¢l a material rnis5tatement when Tt exists. MisstaÉemenis Can arise from fi?ud or error and are considered material if, individually or in ihe aggregate. they could Irasonably be expected to influeiice the econoii)ic d¢cisivDs ofusers taken on tlie basis of Iliese financial stateineni5. The extenl to which tsur procedures are capable of detecting irregularit1¢5, including fraud is ddail¢d below.. Irregularities, including fraud, are instance5 of non-cornpliance with laws and regulations. We design procedures in line wilh our responsibilities, outlined above, 10 del¢¢¢ maierial misslaleinents iii respect of irregularities. includEng fraud. The ¢xien¢ to which our Procedures are capable of detecting irregulartiies, in¢luding fraud is detailed below. Dis¢u5S10115 Wlth and enquiries of Inaiiagemeni and those charxed with governance were held with a view to identifying ihose laws and regulatLOll5 that could be expected lo have a material impact on the financial statements. DuTlllg the engagement team bricfing. the outcomes of these discussions and enquiries w¢r¢ shared with th¢ team. as well as consideration as 10 wher¢ and how fraud inay occur irk the entity. The following laws and regulalions were identified as beiiig of 5ignif1cance to the enlity.. Those laws and regiulalion5 con5ider¢d to have a direct el'fecl 01) the fitiancial statenients include UK riiiancial reporting iegulat10115. Employment law. pension law, distributable profits legislation, and ChHriti¢.s A¢¢. Those laws and regulations for which non-compliRnce tnay be fundamental to the operating aspe¢is of Ihe bu%inc5s and therefore may have a material effect on the fiiiaNcial statements includiiig health and safety legislation.
Danish Young Women's Christian Association in London Independent Auditor's Report to the trustees of Danish Young Women's Christian Associdtion in London Audit procedure5 undertakeii in response lo tlie potential risks ¥elalinb to irregulariiies Iwliivh include fraud and noii-coiiipliallce witli laws and regulatioiisl coniprised of.. enquiries of managein¢iii and iliose charged with govemaiice as 10 whether the eiility complies with sucli laws aiid I'egtjlaiions,. enqiiiries with the same conceming any actual or potential litigation or claims; inspection ofrelevani legal correspondence: ieview of board minute5', lestiii&> ihe appropri4teii¢s¥ of jvui'nal entries., and Ihe perfoi'niaiice of analytlLal review lo identify unexpected 11)uveJi)¢nis in acLOUllI balaiiLe5 wliicli Imay be iiidicalive of fraud. No in%tances of Inatei'ial non-coinpliaiic¢ wei'e ideiilitied. How¢vcY, the likelihtsod of detectiiig irr¢gLtlarities, onti'o15, and Ilie nature, tiinitiB and ¢xleiil of tli¢ audit procedures p¢rforni¢d. Ii'rebjularilies that result fi'om fi'aud niighi be iiiheretitly more difficult lo deiecl Ilian irr¢gulariti¢s ihar resuli from ei'ror. As explained above, tlier¢ is an unavoidable risk thai material nii5slalemenls may not be detected, even though the audit has b¢¢n planned and perforined in a¢cordan¢e with ISAS IliKI. A further description of OUT responsibilities for the audit of the financial statem¢nls is locaicd on the Financial Ilep¢i1ing CoJn¢il's website ai.. https'.Ilwww.fr¢.o¥g.uklauditor5resptsn5ibilitie5. Thi5 description fomis parl ofour aiiditor's report. b$e of report This report is niadc solely to tlie cliarity's trustees. as a body. in aecordance wttli Part 4 ofihe Cliarities IAccounts and Reports) Re(PLilation5 2008. Our audit work has been ilndertaken so that we mighi state to the charity s trLlStee5 diosc matter5 we are rcquired to Stale to rhem in ati audtior's repon and foi. no other puipose. To tlie fullest e.xtent perniitted by law. we do iiot accept or assuine responsibility io aiiyL)ti¢ oili¢r than Ilie charity and tlie Lharity 5 trustees a5 a body. for oui. audit work, for this report, oi. for the opinions we have forined. Ru55ell Joseph ACA (Senior Statutory Auditorl For and on behaifof Bourner Bullock. Statutory Auditor Chartered AcLountrants 114 St Martin's Lane Covcnt Garden l.ondon WC2N 4BE Date..
Danish Young Women'5 Christian Association in L(Indnn Statement of Financial Activitics for the Year F.nded 31 March 2024 (including Iiicome and Expenditurc Account alld Statement of Total Rccognised Gains and Losstb) Unre$trl¢l¢d fund5 2024 DeslgNAted funds 2024 Totlll funds 2024 Total funds 2023 Not¢ Intome from Donations Charitable aciivitr¢s Other tradiiig activities Investments 12.976 357.46? 7,927 6,910 11 ?,976 357,46? 7,927 6,910 93,149 i31,316 3,576 981 Total In¢oiMe 485.275 485,275 429.022 Expenditure on: Charitable aclivilits 443,305 80,232 80,232 523.537 444.134 Total Expenditure 443,305 523,537 444,134 Net incomel lexpenditurcl before exCeptoal items 41,970 180.2321 138.2621 Les5 exceptional itein5 31.144 31,144 Net incomel lexpendilurel after exceptional itenis 10,826 180.2321 169.4061 Gros5 Iraiisf¢r between funds 13,0871 3,087 Net movtyn¢ni in funds 7.739 177.1451 169,4061 Reconciliation of funds Toial funds broughi forward 14 197.606 2.926.327 3,1?3,933 3,139.045 Total funds ¢airied forward 14 205.345 2,849.18? 3,054.527 3,123.933 All of the cl)ai'ity'S artivities derive froiii ¢oniiiJiiitkg operations during the period. io
Danish Young Women'5 Christian A55ociation in London (Charity number: 249198) Balance Sheet as at 31 March 2024 2024 2023 Iyote Fixed Assets Tangrible fixed assets Inve5timen15 2,585,768 ?,661,443 Current It55et5 Debiors Cash at bank and in hand 12 ?9.713 502,467 53? 180 497,799 509,988 Creditor5: Amounts fHlling due within one yeAr 13 163,4441 147,5211 Net eurrertt AS5et5 468,736 462.467 Net asset5 3,054.527 3.123.933 General unre51ricted funds Designated unrestricted funds 14 14 205,345 2.849,182 197,606 2,926,327 Total funds 3.054.527 3,123,933 The financial staternents were approved by the Iru51e¢s. and authorised for issue on .1?.. L)&: "L.ltr. and signed on their behalf by.. S R05enfalck li
Danish Young Women's Christian Association in Lon(Jon Notes to the Financial.Stxtements for the Year F.ndcd 31 March 2024 l Aeeourlting pollcles Summary of significant accouTrting ptslieies irtd key #crounting e5tiTllate5 The principal accounting policics applied in the pitparalion ol'ihese fiiiancial statenients are set out below. l-hese policies have been cnnsistciitly applied to all the yeats presented. Iinle55 Otherwi5C Staled. Basis of Iirep#r*tion The fiiiancial 51aleiiieii1s have bEen prepared in 2ccoYdan¢e with 'Ac¢ouiiling and Reporting by Cliaritie5'. Stateineiii of Recoininended Practice applicable 10 f.haritie5 preparing Ilieii. accounts iii accordaiice willi the Financial Reportin(t Standard applici¢ ble in the LiK and Repiiblic of land IFRS 1021 (Second Editionl- and Ihc Financial Reporting Standard applicable in the Liiited Kingdoni and Republic of Ircland IFRS 10?) and the Charities Acr ?0 I l and UK Generally Accepted Practice as it applies from l Jatiuary ?019. The finaiicial stalement5 liave been PT¢pared to give a 'lru¢ aiid fair- view aiid l)8ve departed fyoim th¢ Cliai'ities (Accouiits and Repoitrl Regulations 2008 only lo the ekteiil requircd ta PTovidc a 'truc and fair view,. Tliis departuiE has involved following 'AccountiiigT and Reportiiig by Charities.. Slatcmcnt of Rccoiiimcnded Practice applicable to ¢harities prepai'ing iheir account5 in aLcurdance witli the Financial Reporiinu Standard appli¢able tn Ilie LIK and Republic of Ireland IFRS 1021 (Second Editioiil, ratlier tliaji the Accounting and Reportin¥ by Charities.. Statement of Re¢oii)mended Pracliee effective from l April ?005 which has since been withdrawn. Danish Youiig Women'5 Christian Asso¢iaiion in Ltsndvn meeis ihe definition of a public benefit entity under FRS 102. Assets aiid liabilities are iniiially reLogniged ai hisioti¢ Cost oi. Iiansaciion value unlegs oihei'wi5e stated in the relevant accounting policy notes. Coing contern The financial statements have been prepared or) a going ¢oii¢ern b&5is. The trustees as5¢ss whether the use of going coneern ts appropi'iate i.e. wlieilier there are any IT]aterial uiicertaiiities related to eveiits or conditions that may cast Slgnificaftt doubt on the ability of the c.harity to continuc as a going conc£rn. The Iruslees make this a5sessinent in respect of a pcriod of one year fTom the date of approval of thc financial siatemcnts. CharitAble funds Unresiricled funds are general funds Ilial air available for use at the trustees, discretion in furtliei'ance of the objeclives of ihc Charity. Designated funds are funds whi¢h the Iruslees have sel aside as explained it) the notes 10 Ihe accounts. Resiri¢ted funds ar¢ subject to specific eundilions by donors as to how they may be used. The purposes and uses of the restriclcd fund5 4tir sei out in the notes ro the accounts. Income Trff£lliig lii¢oii Trading incoine relates to funds r¢¢¢ived from fundraising events and room hi, a¢¢ounled for in Ihe period to which they relate. liii(iiigiblg iiicfjiiie Doiiated professional service5 and donated fa¢iliiie5 are recogni5ed on the basis of the value of Ilie gift (o the charity which is the amount the charity would have becn willing to pay to obtain services or facilities of equivalent economic benefit on the open tnarkei. a corresponding amount is then recognised in expenditure in the period of ieceipi. Chfirillible iicliviiles Charitable activities relate to hostel receipts and rental in¢ome and are accounted for in the period which they relate to. Donuiloiii Voluntary iticome includinkj dona110115, gifts and giants Iliat Provide funding are recogni5ed when the Charity has ert¢itleinent 10 Ihe income, it is probable that Ilie inconie will be received. aiid Ilie ainount can be rn¢asur¢d with sufflcieni reliabiliry. 12
Danish Young Woinen's Christian A?isociation in London Notes to the Financial Statements for the Year Ended 31 March 2024 Expendltur¢ All expendiiure is reco¥nised OllL¢ there 15 a legal or c0115¢ruLlive obligation to ihat e.xpcnditure. it is probable 5ettlenieni Is required and the amount can be m¢asured reliably. All costs are allocated to ilie applicable expeiidiliiir headiiig tliat aggi'egale sijiiilai. eosls to that caiegory. Wliere costs cannoi be direiily attribuied to particular headiiigs Ihcy liave bcen allotaied on a basis consistent with ihe e of resources, with c¢iilTal slaff c0515 allocated on ¢lie basis of time speiii, and depreciation charges allocatcd OM the portion of tlie asset's Lise. Otlier SUPtM)rt cosis are allocaied based on the spread of staff costs. ChgrllAble exyenditure Chai'ilable expciidilurc coiiiprises those ¢osts inturred by Ilie Chariiy in Ihe delivery of ils aclivili¢s and 5¢rvice5 foT lis beiieficiarie$. li incliides both ¢osis that can be allo¢ated directly to Such aclivitTe5 and t1105e costs of an indire¢t nature necessary tLI SUPTK)rt Iliem. Support ¢ost$ Support costs include centi'al functions and have been allocated lo £ctivily cost categories on a basis coNsisl¢ni willi ilie use of resources, for exainple, allocating property costs by floor 2reas, or per eapila, staff ¢osts by the time spent and other costs by their usage. Governgnce costs These inLlude Ilie costs atlributabl¢ to the Cliarity's ¢omplian¢¢ wilh ¢ons¢itutioiial and siatutory reiEuirements. including audit, strategic management and Trustees, meetinx5 and reimbursed expensE5. Tanglble flx¢d 4SS¢t$ Properly, plant and ¢quipmeni are measured at ¢osi, nei of depr¢cia¢ion and any impairnienl losses. Tangible fjxed assets are slated at tosi 1¢$$ d¢pr¢¢i#iion. Depre¢ialion is prvvided al rates calculated to write off the cost less ¢slimated r¢sidual value of each asset over lis expe¢ted Useful life, as follows.. Fixtures, finings and equipment Leasehold flats Freehold pioperty 5 to 15 years straight line 50 years slraighi line 20 10 50 ytars 5traFghi line Investmenis Fixed asset investments are shown at cost le55 provision for impairment. Financial in5trurneTr¢5 The Charity only enter5 into basic financial inslruilleni transactions that resuli in the reco¥nÈtion of financial ass¢ts and liabilities like other debtors and ¢rediiors and loans froin related parties. Financial asseis Ihai are measured Ai ¢osI and amoriised cosi ale assessed al ihe end uf tach repurting period for objective evidence of impairinenl. Ifobjeciive ewideDre of impaii-ment is found, ati iinpairtnent loss is recobjiiised in profil or loss. Financial asscts and liabtlities are offset and tlie net amount reportcd in the Balonce Sheet when ihere is an enforceable ri¥Jlit to sel off the recognised amounts and tliere is atl intention to serrle on a nei basis or to realise the asset and settle the liability simultaneou51y. The charity doe5 not have anything other tlian bhsic financial instrumethts. Deblors Othcr debtOTS and cash are iniiially measured ai settlement amouni due after any di5CQUlIt5 offered. Prepayments re valued at the amount prepaid, net of aiiy discounis. Finatlcial assets are ¢lassifie(l a5 receivables within one year and are noi amorli5¢d. 13
Danish Young Women's Cl)ristian Association in London Notes to the Finallcial Stutements for the Yeur Ended 31 March 2024 Cmsh #nd ¢J)sh equlvalents Casli aiid ¢asli equivalen15 coinprise cash on hand aii(l ¢all deposits, and oiher shoi-i-ierm hiujlily liqui(l inveslineiiis Iliat are readily coHvertible lo a known aniount of cash and are subject to an insignificant risk of change in value. Creditor5 Trad¢ creditors are obligiaiions lo pay for goods or services that have beeii 8¢quired in the ordinary couise of business troni siippliers. Accounts Wdyable are classified as curiEnl liébiliii¢s if tlie Chariiy does noi have an ytILondilional I'ighi. ai Il)e eiid ofihe reporting pei'iod, lo defer seitleinenl of the creditor lorai l¢asi twelve month5 a(tcr Ilie repoi1iiig dale. If there 15 ali unconditiot)al right lo defer settleni¢nl for at least twelve Inoni115 after the reporting date. they are pi'c5ented a5 non-¢urrent liabilities. Trad¢ ¢redÉiors are re¢ogtiised initially at the IransactÉoii pi'ice and 5ubsequ¢ntly Measur at am011ised cosi using the etreclive interesl method. Foreien curr¢n¢y tr11115ACtions #nd bilAnees Transact10115 denominaltd in foreign currencies #Te recorded a( the rate ruling at the date of the transactioti. Monelaiy assets and liabililies denomtnaled iii fur¢igpn currencies are translaled into sierlin¥ at the rates of exchange ruling al the balance slie¢l dal¢. All diff¢reiic¢5 ar¢ included in net mov¢ill¢iils in fuiids. Judgernents And key source5 of estimation uncertalnty In the appliLarion of lh¢ charity's a¢¢oiinling policies. the Iriisiees are re(iuii'ed lo mak¢ judgements. estimaies and assumptions about the carrying 2mouiit of assets and liabilitie5 Ilial are not readily appareiii from other sollrces. 'I'he estimates and associated assumptions are based on historical experiencc and other factors thal are relevant. Actual results may differ from these estimatC5. Thc estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision alfects only that period, or in the period ofthe revision and fulure periods where the revision atyecis boili curreiil and future periods. The trustees consider Iliat depreciation has been a signilicani jud¥em¢nl and key sour¢e of estimation uncertainty in the year. Depreciation= The coinpany depreciates its asseis over their esiimated useful economic life. The carrying amount of red assets at the year end is £2,585,76812023.. £?.661.4431. 14
Danish Young Women's Christian Association in London Notes to the Financial Statements for the Year Ended 31 March 2024 Inconie from donations TolAI Unrestricted TotAI 2023 2024 Fiiends of Danish Young Ivoineii's Clirtslian Assoeiation in Loiidon Other donations 38,314 ?6,99? 66,157 93,149 Includcd within otherdonations are geiieral donations. a5 WCII as amounts IEceived from Danish Qhurchcs Abi'oad. A Corresponding expense has been included within staff cost5. in noie 7. Charitable artlVFties Total Unrestricted funds 2024 Total 2023 Bed and breakfast Other meals and laundry Renial in¢ome 257.978 20.?21 79.263 357,462 234,470 18,983 77,863 331,-116 Other IrAding Hctivities Total Unrestrieted fulld5 2024 Totil 2023 Fundraising event Sundry in¢ome 6.372 2,985 591 3,576 7,927 Inv¢5tment income TotAI Unrestricted fund5 2024 Tot#1 202J Interest receivable on bank deposits 6,910 6,910 981 981 15
Danish Young Women's Christian Association in London Notcs to the Financial Statement4 tibr thc Year Ended 31 March 2024 Expenditure on chgritable A¢tivitie5 Unre5trl¢ted De$ignAted funds fund5 2024 2024 'I'olal 2024 -rola1 2023 Siarrcosts Provisions Repairs and iiiaintenance for liost¢l Repairs and maintenance for flats Insuraiice W2t¢r rntes and eouJi¢il tax 190,235 37,430 190,?35 37,430 43.600 26.385 11,8?5 1.520 17,372 13,246 144.583 39.?97 26,385 11,8*5 11.5?0 17,372 13.246 11,768 13,950 7,361 2,060 11,639 6,500 1.600 Gas and elcctricity Equtpment and repairs Other cosis Linen and laundry Telephone Internet Newspapers and subscriptions DepTeciaiion of fumitUTe And fittings DeprlatIrt of building Depreciatioii ofica5¢hold fla15 IPr¢fitVlos% ort di5P05al of fixlures and fittings Garden maintenance Allocated support costs Inoie 6.11 Allocated governance cosis (note 6.11 To¢al 24,288 9,731 2,841 684 24,288 9,731 2,841 684 2,?40 5.8?] 28,650 51,582 340 2.212 33.536 491 6.063 ?8.595 51.582 5,8?1 28.650 51.582 340 2,212 33,536 2.247 39.551 7.960 444.134 443,305 80.232 523,537 Analysls of govern9¢¢ yupport costs Support Costs Governanee costs 'rot#l 2024 Bookkceping fees Printing and stationery Postage and carriage Marketing and advertisin¥ Recruilinent Il. and software cosis Audit and accountartcy fees Bank charges PIDfessional fees Total 6,000 265 1.365 35 847 7,913 6,000 1,365 35 847 7,913 8.748 8,364 33.536 8.748 8,364 41.654 16
Danibh Young Women's ChYis¢ian Association in London Notes to the Financial Statcment5 for thc Year Ended 31 MarLh 2024 Exe¢ptlon*l 1lem$ TolAI Ilnre5tricl¢d funds 2024 Total 2023 Exceptional il¢tns Exceptional items comprise tsne-off payinen15 of bu5iiiess roles fix>m ?017 10 2023. The tru51ees have confiTmed willi th¢ local council ongoing paymcnls iii relation to fuluir bu5iiies5 rale5 and tlierefoT¢ the trustees do not expect aiiy additional ex¢eplional paymenis. Truste¢s remunerAtion and expense$ No rrustees, nor any persons connected with them, have received any remuneraiion from the charity during the year. No trustees have received any reimburs expenses or any other bettefils froin the rharity during the year. Staff numbers The aggregaie payroll costs were as follows.. Total Unyestricted fvnd$ 2024 Total 2023 Wa8es and salaries Social security costs Employcr contributlolls to defined ¢onirtbuiion pension %hemes Total staff costs 184,1?7 66? 5,446 190.235 139.753 4,830 144.583 The average trtonthly head¢ovnt employed by the chaTity dui'iiigT tlie year was as follows.. 2024 2023 Support Staff Seconded employees from Dantsh Churches Abroad Total One employee is seLx)nded from the Dat)i5h Cliur¢hes Abroad, 10 assist with running ihe ehariry. Included within oiheT (Ivnulion5. and siaff Losts, are corresponding ainount5 to r¢coTd the ifjtanBible income aiid expense for th¢ LOSts relaliiig lo Ilits 5¢cond¢d employee. There was no one employee thai received employee benefits of moiE tliaii £60,000. 17
Danish Young Women's Christian Association in London Notes to the Financial Statements for the Year Ended 31 MarLh 2024 TAngihle fixed Assets Freehold lanil biFildings Fiilui'es. ritlilly & equipment Le#5ehold flats TotRI 2024 Cost Ai l April ?0?3 Additions Dispo%als Al 31 Wlarch 20?4 .17?374 3,087 2,579,1 ?0 137,051 7,6.11 14,1001 140,582 3.888.545 10.718 4,1001 3.895.163 1,175,461 2,579,1 ?0 Depreclatlon and impairment Al l April ?093 Depreciation charged in the year Disposals At 31 March 2024 301.881 28.650 97,055 1,227,10? 86,053 13.7601 1,309,395 51.582 13,7601 99,116 530.531 679,748 CAvrylng am&utbt At 31 March 2024 644,930 1 899,372 41,466 2,585,768 Al 31 March 2023 670,493 1.950,954 39,996 2,661443 Investments TotRI 21124 Total 2023 Cost Al l April 2023 Al 31 March 2024 23 23 23 12 Debiors Total 2024 Total 2023 Sundry debtor5 and prepaytnents amden council debtor 7.466 12,189 12.189 18
Danish Young Women's Christian Association in London Note5 to the Fiiiancial Statements for the Year Ended 31 March 2024 13 CYeditOl'5'. am0t5 falling due wilhin one yeAr Total 2024 Tot*1 2023 Trade credito¥s Oili¢i' ¢reditOT5 Otlier taxe5 and social security Acci'ua15 Deferred incoine 6,146 20,710 6,049 ¥,578 91,961 63.444 4,476 6,694 7,7?4 7,510 Deferred incotne arises on rental income paid in adwaiice. on prtsperties owned by the charity a5 well a5 h05tel rec¢ipts received in the current period bookings in the following period. 14 Fund$ Balance al l April 2023 Balance at JI March 2024 Incoming resources Rt$ourees eiponded TrAnsfers Unrestrieted funds General unrestricted funds 197,606 2,9?6,3?7 3.123.933 485,275 1474,4491 180,?321 13.0871 3,087 205.-345 Desigiiat¢d funds Total fthds 2,849,182 485,975 1554,6811 3.054,527 The specific purp(iseb for which the funds are to be applEed are as follows. Unresiri¢ied funds.. th¢5e fund5 are providcd by donors for 5UPPOrt of the ¢hariry, without resiri¢tion on how fuiid5 should be deployed. Designat¢d funds.. these funds are chosen by Ilie trustces for ihe following purposes.. L4uilding fund.. these fuiids have been desigiiated for the pui'poses of ¢(>vering future tnaintenance c05t of thc main building, and the flats held by th¢ charity, 10 reduce the impact of any unexpected Inaintenance expenditu on the ¢hariry's available reserves. Value of fixed asseis.. the n¢1 book valu¢ of the properties held a5 111 the year end has been dcsignaled io demoiistrdte ihai Iliese are ihe reserves ofihe charily whiLh are not freely available to cover the charily's expenses, as these are the reserves which are lied lip in tl)e cliarity s fi.xed assets. 14.1 An8lysls of net issets between funds Llrtrt5triettd fund5 Dtsigngted G¢ner81 Total Tangible a55ets Investments ?,544.30? 41.466 2,585,768 23 Nei current as5et5 304,880 163,856 705.345 468,736 TotL41 net &ssets at 31 Mgrch 2024 ? 849.18? 3.054.5?7 19