Charity registration numb¢r.' 249198 Danish Young Women's Christian Association in London Annual Report and Financial Statements for the Year Ended 31 March 2025 Contents Reference and Administrative Details....... Trustees, Report.... Indcpendent Auditor's Report.......... ..... Statement of Finanei81 Activities....... 10 Balance Sheet....-.............. Notes to the Financial Staiements........... 12-19 Danish Young Women's Christian Assoclation in London Reference and Administrative Details Charity Reglstrarfon Numb¢r: 249198 Patrnn: Her Royal Highness Princess Benedikt¢ of Denmark President: Vaean¢ Custodlao trustee: The O(fieial Custodian for Charities Bo*rd: Mr S R05enfal¢k (Chiir) Ms N Bigbie Ms M M011er Mr KHansen Mr C Orlyk Ms S Kennedy Mr P AhTn (Trttsurer) Mr M Olsen (&ppointed 9 October 2024) Wgrdtn: C Y Jantze Addre85: 43 Maresfield G8rden5 Hampstead LOJ￿0￿ NW3 5TF Audltors: Bourner Bullock Chartered Accountants 114 St Martin's Laoe Covent Garden London WC2N 4BE Web51te: www.kfuk.eo.LJk Danish Young Women's Christian Association in London Trustees, Report for the Year Ended 31 March 2025 I. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing Dotument Tlie Charity is rcgulated by the Rule% datcd 14 March 21)07 and Deeds of Trust dated 3(} September 1958 and ?5 April 1966. Org•Disational Strueiure The Charity Is Tun by a board of betti'¢en f1ve and iiiiie individuals who speak Danish and live in ETh￿18nd. Tlie board elects the Chair. Vice Chair and Hoiiorary Treasurer amongst itself. The offices of Chair and Honorary ir¢asurer cannot be carried out by the same petson. The Dattish YWCA London is reprib¢ni¢d on The Danibli Chllrch in Lolldon's Committe¢ and the rector Ipriestl at the Same church is on the board ot the Danish YWCA. The a$sociatlOll of Den Diinsk¢ Kirke i Udlandet IDDKU), in conjunclion with the board, einploys a Warden who oversees the daily manageEnellt of the Charity. Since 2020, the Charity's PTUP¢tiies have been resislered in the J]ame of Thc Official Cusiodian for Charities. This ha5 two Advantages: the CI￿lty is saved th¢ expense of makitlg the n¢w deeds required when its holding tnisiees change. there is risk that th¢ Charity's land will remain vested in people who are no longer involved with the Charity and who Jnay be difficult lo trace. The Official Custodian ¢artnot take part in maTLa¥in¥ land vested in hiD]n]er. The Charity t￿￿te¢S kcep all the powers and duties of management. Decision Making The principal pru¢edur¢s of Ihe Charity are Sel out in Ihe Governing Do¢umcnt. The Warden is in chargc of the daily manageiment of tlie Charity and all other de¢i$ion rnaking is vested in the board. Retruitment AppolntmeDt of NeY4 Trustees Thc idelltification of potentidl new Danish 5pe#kirtg tnLStees Is carried out by the board. the aim being to reeommend for appointment those with expertise appropriate to carry out the Charity's work. Risk A35cssmtnt The major risks to which the Charity is exposed, as identified by the Truslees, are regularly monitorcd and systems have been established LO mitigate those risks. 2. OBJECTIVES AND ACTIVITIES Object Th¢ Danish YWCA London is a branch of Den Dan5kc Kirke i Udlandet {DDKUI. In conjunction with the Danish National Church and on Evan&ielical-Luiheran basis, it lit￿ 10 spread ihe word tsf the Gospel and to encourage young Danes to toke part in Christian community lif¢ amon¥ Danes in London. Actlvities This is achieved by creaiing a Chii5tian home, where young Danes ¢an live and come freely to s¢ek advice and guidance, and by pointing them in the direction oFthe Danish Church in Lotidon. The Charity holds a primary hostel at ma￿$fIeld Gardens providing up to 60 beds. and 10 tlats with a view to letting these on a short-lei basis 10 p05rgradu#te Danish smdents. Publ1¢ bentflt The TtU51¢es confirm thai they have cornplied with the requirements of seeiion 4 of the Chariiies A¢1 2011 to 113ve duE regard io the publi¢ benefit guidanc¢ published by the Chariry Co]nmission for England and Wales. 3. ACHIEVEMENTS AND PERFORMANCE ln the r¢L¢nl finanLial year. oceupan¢y at the hostel has followeda watlem ihat appeaT5 10 have bccn established aftEr Br￿1t in 2021. During the aulumn lemi, the hosiel expeTienced high occupancy, follow¢d by lower occupancy in the spnng teTTn. This year, the average occupancy has deLreased to 611Jlo 12024.. 670/0). We dre conducting a s￿￿eY Covthng thc past couple of ycars to deterniinc precisely wheiE the declJD¢ in occupancy has o¢¢uThed. A new Properry Management System w28 implemented at the beginning of 2025, providiiig much easier access for our guests to make a bookino ai our hostel and improved tools 10 monitor occupancy and irspond accordingly. As a means ofattractin8 inore re$id¢nis and ￿t￿￿e-p￿0fin8 our h05tel. the tswstees have begun exploring z possible iefurbishment and upgrade. The Charity owns l O studio flat5 that can be rented by Danish students icmporarily on a sthdy visit in the UK. The applicativnb are reviewed by, and the flar8 are offeyed by, a selection committee in DenmaTk based on a set of criteria. In ¢tL¢ last round of appli¢atlOlls in May 2024. 60 stud¢nts applied. From thi& 10 Students w¢rc sclected. Since Brexit has effectively changed the conditions for youth tnobility between Delln￿rk and UK a new strategy for the Cbarity was developed and approved by the board in August 2022. The new strategy aims to develop piogtatntlles thai will attract youll8 D2ni%h &dults to travel to London and Stay at our h05tel, PTEdotninantly al times of low OCCUPI￿cY. We are especially ￿[g¢ting youllg Danes on a gap yegr, whom traditionally spend a year Iravelling the world io eTrhanc¢ life and job skills before conLinuing to Sludy. In August 20?4 and again in January 2025, we carried out two test runs of a new concept inspired by the Danish Public High School tradition. Twenty young DGnes partiCiPAted and had the opportunity to experience this unique tradition, combined with di5tinetive culttrrnl activities in London. The hwo test njns h#Ye been thoroughly evaluated with the aitn of gainin8 illsighls inio how the coll¢ept call be furtherdevelopedand scaled Ln th¢ past year wehave had the greatbenefit of involvingvolunteers in lar8e numbers. Around 200 volunteer5 have contributed to the Charity throughout the year. The largest nutnb¢r of volunteers were engaged itl ttle yearly Christmas Bazaar. A smaller number of general volunteers have supported in different ways to Ih¢ d￿'1Y running of th¢ hostel., Helping with ytsuth activitTes, preparation and serving of mea15, SUPPOrting social life among residen15 and contributing to Social Media content. Re¢tuittnent, coordination, and support of uur volunteers has high priority in th¢ Chdrity. Throughou1 the ye&r the Charity has cmployed an avera8e of 8 staff. The Charity's aim to be a 'home from home.. giving young Danes 2 wami Welco￿¢. a link to the Danish church, and a pl¢a58nt and safe place to stsy orvi5it tt reasonable prices, is still our overdll goal. S&fe8uarding procedures and Skills are in pla¢¢ to enbure an open and safe environment for everyonc who comes into cortthct with ottr charity. Throughout the year we have offered many activit1¢5 and events to our own residents and to Danish students and young adult5 living elsewhere in London. We tsrganis¢ most of these events ourselve5, but increasin8lywe seek trb tnllAh¢)ratewith The Danish Church and otherLondon-based Danish organisations. We believe we play an important iole as a stcpping stone for Danish youth tying to scttlc in a big tlty. and a5 a safery net for those in need of help alld support. In 2024. we were also able to hold our yearly ￿ll￿a]Ser, the D￿lsh Christmas Bazaar. Atound 2(K>O people visited the bazaar during the last weekend in Noveinber. The fomial orgauizer of the bazaar 'Friends 0£ th¢ Danish YWCA. tnana¥ed io raise £35.864 for thc Danish YWCA in London. The link to the Danish Church in London 15 rnade clear to all o¢¢llpants and the opportunity givcn to jointly take part Jn the Sunday service dnd other Teligiou5 and traditional holi(Jays ¢hToughout the year. 4. FfNANICAL REVIEW Poll¢y on Reserv¢$ The Lost of providing thc faciliiie% io young Dan¢s in London is funded for Ihe ¥reatCL' parl froin the rcnial inctsme reLcived with any shurifall inei by drawing from reseTves, providcd Il)ai IhL value of the reserves is no¢ (Jiiminished unduly thus ensuring the gustainability of the Charity. Thc ChaTiry aims 10 hive ¢ash reserves of appioximJtely £50,OIMb. As detailed in note 14 of the financial statements. durillg ihe yeai.. the TiiLStees have reviewed thc funds held by the Charity. This included a d¢iailed review of restricted funds, aiid designated fiinds. As of 3 1 March 2025, tot&1 unrestricted funds amounted to £2.944,800. Within unfestticicd funds, there arc designated tiinds of £2.768,849, wliich Is niadl up of £2,463,969 prupLrty and £304,88n of fund5 hcld io coveT future maintenanc¢ ¢osts of the building. £175,951 remains in general nrcstricted funds. In line with the Tcserves policyj therc were no restricted re%erve5 a5 at the year end. The Trustees con51der that thcir frec reservcs would allow theTn to continue their activities to meet their ch2ritable objectives for a Friod of approximately 3 monihs, should their incomin8 resources decrease significantly. However, other sour¢es of emergency funding can be considered including donations from companies sY￿pathetIC to the objectives ofthe Charity and reallo¢aiit)g the Designated CULTent assets. Investments In Janllary 2025. the Board approved the TreasuirV5 asset alloLatTon proposal. In accordance with the Danish YWCA Investm¢nt Policy. the overall slrate8ic allocation for the investment portfolio was targeted at an appwpriate balance behveen.. strnc￿red {In¢om¢l Products Fixed Interest Accourtts Short T¢mi Access Accounts Easy Access Accounts The objertiv¢ is io improve Ihe relum on LU￿ent Asset5 whilst mllintaining P& Low- Mtdium risk profile artd providing a¢tess to cash to meet operational rtqllirern¢nts. This is con5ider¢d a ca￿l0￿S approach to the charity'5 funds. Flnanci41 Summg4ry The income during the year amountcd to £478.212 (2024.. £485.275}. The hostel'5 receipts decreastd to £26029112024.. £278.199) reflecling a 61 /0 {2024.. 67°/41 occupancy rate. Tul¥l eXp￿id1¢￿iE ￿￿Ounted tts £587,93912024.. £523,537) with increases in staff costs b¢inB the main reason for these incr¢a5CS. Rlsk5 The trn$tees have C￿ried out a Risk Assessment for the Charity in general. foi m2Dagernent of our main building, for Staff Managemenr and for Safegllarding. The risks ideDtificd below are th¢ ones considered the Tt1051 significant from Ihe risk regisier. OCCUPANCY The con5equenLcs of BTCXIt continue kn pose a challcnge to the operations OF the charity, both in ieiThs tsf rccruitmcnt tst staff from Denmark (sec below) and due to the current lack of youth mobility with re5ultani reductlOD in tradiiional customer base. A re¢ent agreement betwccn thc UK and ihc F.U iniroducts d new Youth Experi¢nee Scheme aim¢d ai giving young Europeans easier access to smdy and work in Ihe UK. The dctsils of the s¢heme have yet to be finalised, at)d only then will we know more about the prospects for our hosiel. FOREIGN EXCHANGE NlThiSsr the visitor5 to the hostel are from Denmark. as the Charity largely operates io Sterling. with all rental income and hosiel receipts- b¢ingT in Sterlin¥* the truslee5 do llor considcr the Charity io be significantly exposed lo the ¢tfeclb ol. fluctuaiing exLhdnge rai¢s it has been seen in the p￿1 years. ENERGY COSTS The Charity continues to mitigate the peak of energy prices during thc ycar by entcring into lon8-temi entr8y siipply contrdcts With a major supplier to mitigate flu¢tuotions COST OF LIVtNG CRISIS Like the rest of society, the Chariry is f2¢ing increased priees on almost all expenses Te12ting to the day-to-day rLuthing of the business. Mosi significant is the increase of pri¢e of food over rhe past years. Since providing of breakfasl and oih¢r mtrdlb are a core Service for the hostel. furthEr increases can lead to a challcnge in keeping to the budgei in thib dr¢a. STAFF The immigration laws following Brexit have effcctively madc tt imw)sstble to hire non-gkilled workers to our Charity frorn DenIlla￿ as has been practised for many years. Ai the same time, should wc wish to cmpl¢y local Staff. this has prov¢d io be very difficult becaus¢ of a lack Of workforce iti the hospitality sector iri London. lli¢ staff siruation at the Charity is therefore vulnerabl¢ with fewer staff to carry out the day-to-éay work at the h05tel. 5. PLANS FOR FUTURE PEEUODS A budget for the FY25126 was approved by the IK)ard in the first quarter of 2025. The rNstees ¢on¢inue to maintain a strong foclls on Controlling operating costs. Building maintenance acr05S the various properties remains a priority for the chariry to ensure that our facilities are well inaintsined and comply wilh curtent leg151ition. AS ￿entioned earlier, the trnstces have begun coDsidering irtvests￿ent a larger renovation of the hostel, with the aim of cstablishing belter and more tnodern faciliues 10 attract fflore residents. The scale of the proj¢¢t will d¢p¢nd on the charity's ability to raise the necessary fvnds. With the aim of closer follow-llp on Strategy 2023-25, the board ha5 introduced an annual business plan ¢hat seLS oui key activities and goals for the corning year. The trustte5 plan to organise the regular Christtnas Bazaar again this ycar in c105e cooperntion with"Friends ofthe YWCA" Danish Young Women's Christian Association in London Trustees, Report for the Year Ended 31 March 2025 St•t¢ment ofTrn$tee$' responsibilltles Th¢ ttu5tees arc re%p)nsiblc for prq)aring the Annual Report and the fLnanLial stateTnents in accordance with applicable law and rcgulations. The law applicable to charities England & Wales r¢quirLs the mistees to Prepare fjnancial staternents for each fina￿cial yeal" In aLcordance with Unired Kingdom Generally Accepted Accounting Practice Iunitrd Kingdom AcLountin8 stand￿d$ and applicable law}. Thc Irusi¢¢s must nol appruve the financial siaiements unless they arc sa115ficd that they givc a tNe aThd fair vicw of the State of affairs of the Lharity and ot the Incoming rc50urces and application of Ttsour¢es, inclu(ling tbe incotne and expendittire, of the charity for that pcriod_ In preparin8 these financial statements, th¢ tn]stees are required to.. 01 select sui¢able accounting pDlicies and apply them eonsistently* b) observ¢ the method5 and ptin¢iple.% in thc Charities SORP- cl make judgments and accounting cstitnates thai are reasonable and prudent. d) stot¢ whetber appli¢able UK Accountillg Standar4Js have been followed. wbj¢ct to aDy ￿￿terial departures di5Llo$ed 2nd explained in the fit)allcial statements. e) prepare th¢ financial statemcnts on the going concem basis URies¥ it t$ inappropriat¢ 10 presume that th¢ charity will Coniirtue to opernte. The trnstee5 are f¢bponsible for ktwing sufficient aicwnting record5 that disclose with reasonable abcura¢y at any time the financial p05iiioD of the charity and enable them to ensure that the financial statements ¢omply with the Charitie5 Act 2011, the Charity (Accounts and Reports) Rcgulations 2008 aDd the provisions of the trust deed. They are also responsible for safegllardin8 the a5¥¢ts of the charity and hence for tsking rC&￿nable steps for the prevcntiLm and deteciion of fraud and other irregul￿11¢$. tn so far as the trnstee5 art aware.. there is no relcvant avdit inforniaiion of wh¢ch the charity's audiioT is unaware: and the trustee5 hav¢ tiiken all step5 that they ou8ht to have taken lo make thunselvcs aware of any relev&ni alldit infoTrnation And io esthblish that the auditor is aware of th&t infomiation. Approved by the Board of Trusiees and signed on its behalf by.. S Ro%enfalck Dute". Danish Young Women's Christian Association in London Independent Auditor's Report to the trnstees of Danish Young Women's Christlan Associatlon In Londo Oplnlo We hai'c audited the financial statements of Danish Young Women's ChTistian Association In London (the 'chariry'i for the year ended 31 March 2025 which comprise the St2temenl of Financial Activiti¢s and the Balan¢e Sheet and nots to the finaneial statements, including a summary of significanr accounting poli¢ie5. The fjnancial reporiing fra]Dework that been applicd in theirpreparation 15 applicablc law and United Klngdotn Accounting Standards. includin¥ Financial Reporlllig Standdtd 102 The Finaiicirtl RÈp)T'iing Sioiidal'dopplscoble iii ilie UK andRepiiblic ollF'EléElld (United Kin¥doJn GetLeTally Accepted Accounting PTdCtiLe}. In our opinion, the financial statements.. give a true and fair view of the state of the chariry's affai]s as at 31 March 2025 and of its incoming resourccs and appliealjon of resources fur the year then ended. have been properly PTep3red in accordance with United Killgdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Cbarities Act 2011. Basis for opinio We conducted our audi¢ in accordance with International Standards on Auditing IUKI IISAS IUKII a￿d applicable law. OUT r¢5ponsibilities under those Standards are further describcd in the Auditor's re5POn5ibilities for the audit of the financtal statements section of our report. We arc indepetjdent of the charity in accordall¢¢ with the etbical r¢quirements that are relevani tts our audit of the financial 51alemenis in the UL including the FRC'S Ethical Standar¢ and we have fvifilled our other ethical regpunsibilities in accordance with thes¢ requireTnents. We believe that the audit ¢vid¢nc¢ we have obtained is suffiLielli and appropria¢e io prlivide a b&%]5 for our opinion. Con¢lu5l0115 relating to goillg concero ln auditin8 the financial staternents, we have coneluded that the trustees, use of the going eon¢ern basis of accounting in ihe preparation of the financral 51atemenis is appropriate. Based on th¢ work we hav¢ perfom)ed, we have not identified any material unccrtainties relatitig to events or conditions that, individually or ¢oll¢¢tively. tnay cast significant doubt on the charity's ability to Continue as going concem for a P￿.lod ofat leasl twdve tnonihs from whett th¢ fiIian¢ial State￿entS ar¢ auihorised for issue. Our iesponsibilities and the responsibilities of ihe trustees with respect to going coneern are described in the r¢l¢vant seclions of this report. Other inforrn*tio The other inforntstion Comprises the infom]aiion included in the annual report other than the financiol statements and our auditor'5 report thereon. The trustees are responsible for the other infomjatiots eonlained within the annual rq)ort. Our opinion on th¢ financial statements does not cover thc other infornialion and, except to the extent ULheTwise explicitly stated ill our report, w¢ do not express any foTm Ot a5SUTance conclusion theretsn. I collllection with our audit of the flnancial ftatements, re5pon5ibility is to read th¢ other infoThnalion alld, in doing 50. consider whethcr the other information is materially inconsistent with the fjnaneidl stat¢m¢nts or our knowledge obtained in ihe audit or otherwise appeaT5 to be materially misstated. If we idelltify such n￿terial inconsist¢n¢ies or apparent material tnis5tatements, we are required to d¢tennine whether there 15 a material misststement in the financial slalements or a material rnissiatem¢nt of the other inforniation. If, based on the work we havc performed, we conclude that there is a material mi55tatement of this other inforniation. we are required lo report that fdCL We have nothing to report in this regard. Danish Young Women's Christian Associgtion in London Independent Auditor's Report to the trustees of Danish Young Women's Christian A5SOtiatioD in London Matters on whleh we are requirLd to report by ex¢eptlOD We have nothing tL) r¢pun in respeLI of the followingy tnaitcr5 Ln rclatiort 10 which th¢ Charitle5 IALI(ILiDls and Reporls} Regulations ?008 require u5 Lo ieport lo you if, in our opinion: the infonnation ¥iven in the trustccs, repon i5 inconsisi¢ni in any material re5P¢Ct with ihe flnancial 5tatcm¢nls- or suffjcient accounting rccords have not been kept; or the financial stateTnents are nor in agreement with the accounliiig re¢ords and r¢tUTllS: or we have nor rcceivcd all Ihe inf(Trrniation and explanalions we require for our zudit. Responsibilities of tru$ie¢s As explained more fijlly in the trusitts. re5ponsibilitLes 5tat¢nJ¢nt %et out Ort pasTe 6 the t￿$[e¢S are responsible for the preparation of the financial statements and for being satisfied ihai they give a irue and fair view, and foi. sllch intcrnal ¢ontrol as the twstees deternille 15 necessary io enable thc preparation of fjnancial statements that are frcc from material tnissiatemenL whetiieT due to fr&L￿ or ¢rtVT. In preparing ihc fjnancial statements, the tNslees are responsible for 2s5es5ing the eharity's #bility to continue as a going Lonccrn, disclosing, as applicable, matters related to going conL¢m and using the going concern basis of acLounlingT unless thc tru51ces either intend to liquidaie the charily or lo cease opeL?tions. or have no realisiic altemative but to do so. Audltor's re5pon5ibilitle5 for the audli of the finanelal stxtements We have beell appointcd as auditor under section 144 of th¢ Chariues ALt 2011 and re￿rt in accordanre with thc ALI and relevant rebrulations madc or having effecl Ihereunder. Ourobje¢tives are to obtain reasonable assur&nc¢ aboui whether the financial ststements a5 a whole are free frotn aierial tnis51at¢m¢nl, whether due to fraud or error, and to issue an auditor's report tliat include5 oul opinion. Reasonable 2ssufdfLce 15 a high level of a55uran¢e, but 15 not a guarantec Ihat an audii conducted irl accordance wilh ISAS {UKI will always detect a material misstatcrneDt when it exists. Mis5tateTh¢nts tan arise from fraud or error an(L are considered maierial if. individually or in the aggregate. they could reasonably be expected to influ¢n¢e the econotnL¢ decisions ofusers taken on the basjs of these flnuncial State￿ents. The extcnt to which our proceduT¢S are capable of detecting I￿¢gUIantlc$, including fraud is detailed below: I￿gUlaritIeS, including fraud, are instances of non-c(pmpliance with laws and r¢gulation5. We design proceduie5 in line with our re5wttsibilities, outlined above. to dctect material rnisstaternents in respect of I￿egularitieS. including fraud. The extent to whith uur procedures are capable of dctecting irregularities. including fraud is dethiled below. Dibiussions willi and enquiiies ot- rnanagemc￿t and those ¢hi)rged with governance were held with a view lu identifying those laws and regulation5 that could bc cxpected to have a material impact on the tjnancial 5tat¢menLS. During the engagemellt team briefing. lh¢ oui¢gmes of these discussions and enqiiirics wcre shared with the team, a5 well as consideration as to where and how fraud may OCCUT In the entity. Tlke followiDg laws and regulations were identified as being of significanc¢ to the entiry.. Those laws and rc8ulations considered to have a direct effect on the financial sialernent5 include UK rinallcial reporting regulations, Employment law. pension law. distributable profit5 legislaiitsn, and Charities Act. Those laws and regulations for which non-compliance may be fundamcnlal to the operatinu aspects of Ihe business and therefore may have a maierrial effect on the financial siaterncnts include healtb and safety letsjislaiion. inLludiIibT Ii>od quality and hygiene Standards. Danish Young Women'$ Christian A5so¢iation in London Independent Auditor's Report to the trustee$ of D#nish Young Women's Christian Association in London Audit procedure5 undertaken in r¢5ponse lo tlie potential risks relalii)g 10 in*guldrilies (which in¢lu(k. fraud and non-complian¢c with laws and rcgulalion%l comprised of.. cnquirics of managcmeml and tliose Lharged wilh govemonle as ro whether the entity complies with such laws wd regulations," enquiries with the same ¢onc¢rning any actu￿ or potenrial litigation or claims: inspection of relewani legal corresponden¢e." review of board minutes". testing the appropriaieness of loun￿1 ￿lIries.. and the perfoTmance of analytical review to identify unexpecied rnovcinents in aecouttt balances which tnay bt indicative of fraud. No instances of material non-eompliance were identified. However. die likelih¢od of detecting irregularities, including fraud, is limited by ihe inherent difificulty in detecting irre8ulariiies, the effectiveness of the entity's ¢onttx>ls. and the naturc, timing and extent nf the audit piDceduirs perfornied. Irregularities that result from fraud might be inherently more difficuli to delcct Ilian irregulaTIIIES that result frort) ¢rrtsT. As ¢xplain¢d abtsve, there is an unaVO￿ab1e risk that Jnalciial [ni5statc￿tnt5 ]Day not be detected. even (hough the audit has been planned alld perfornied in accordance with ISAS IUKI. A furtlLer des¢TiPtion of our responsibKlities for thc audit of the financial statements is I(￿aled on the Financial R¢porting Council's webslteat.. hrtps'./lwww.frc.org.uklauditorsresponsibilities. This deseription forn]s part of our auditor's report. Use of our repc*rt This report l5 made wl¢ly to the ¢haiity'S tntstees. as a body. in accordancc with Part4 of ihc Charitics (Aceounts Reports) Regulation$ 2008. Our audit work h85 been undertaken so that we might state to theeharity's tNS¢¢e5 those Enatters we are re4uiTed to state Lo the￿ in an auditor's repon and for no other purpose. To the fullest extent perniittcd by law. we do not a¢¢ept or &ssume responsibility to anyonc olhcr than the charity and thc charity'5 ttuste¢s as a body. for our audii work, for ihis TepoTL or for the opinion5 we have fornied. Russell Joseph ACA (Senior Statulory Auditor) For and on behalf of Bourner Bullock. Statutory Auditor Chartered Ae¢ountants 114 St Martin's Lane Covent GaTdcn London WC2N 4BE Date.. Danfish Young Women's Chrlstian Association in London Statement of Financial Activitie5 for the Year Ended 31 March 2025 {including Income and Expenditure Account and Statemenl of Total Recognised Gajns And Losses) Unrestricted De$lgDated funds funds 2025 2025 Total funds 2025 Total funds 2024 Note loeome from Donaitons Charitable activities Other trading activities Inveslments 105299 343.948 19.890 9.075 105.299 343,948 19,890 9,075 11?.976 357,462 7,927 6,910 485,275 Totsl In¢ome 478212 478,212 Expenditure on". Charitable activities 507,606 507,606 80.333 587,9J9 523,537 Total Exp¢ndiwTe 80.333 587,939 523,537 Net incomel Icxpenditure) befor¢ exceplJotMI item5 (29.3941 (80J331 1109.727} {38,2621 Less ¢x¢¢ptional iten]s 31.144 Net incomel lexwjditurel after exceptional iten Gr055 transfer bettveen funds 129.3941 180J331 (109.7271 169.4061 Net ttLovem¢nt in fLmd5 {29.3941 180.333) 1109,727) 169,406) Reconciliation of funds Total ￿ndS brought fonvard 14 205,345 2,849,182 3,054.527 3.123,933 Totsl funds carricd forward 2,944,81Y) 3.054,527 14 175.951 2.768,849 All of Ihe ¢harity'5 activities denve froin eontinuing operations thiring the p¢riod. io Danish Young Women's Christian A550ciation in London Notes to the Flnancial Statements for the Year Ended 31 Mareh 2025 13 CrEditor5: %ThOUnts fg11ing due wlthin oDe year Total 2024 21125 Trade creditors Othcr creditOTS Other raxes and social security Accruals Deferred income 5,314 14,539 3.765 15.771 24.780 64.169 6.146 20.710 6.049 8.578 21.961 63.444 D¢fetTed income arisc5 on rental incorne paid in advancc. on properties owned by the chanty a5 well a5 hostel rtteipts teceived in th¢ ¢urreni period for bookings in the following period. 14 Fund5 Balance at B#laoee at 31 March 202S Re50urce5 expended 2024 sources Transfers UDrestrieted fund5 Gen¢ral ut)restrictcd funds 205,345 2,849.182 3,054.527 478.212 {507.()061 180.3331 {587.9391 175,951 Designated funds Total fund5 2,768,849 2,944,800 478,212 The specific purposcs for which the fi￿dS are to be appli￿ are as follow5-. Unrestricted funds.. these fvnds are provided by donors for support of the cknity. withoutrestriction on how funds should be d¢pluy¢d. Designated funds.. Ihe5e fvnds are chosen by the trnsiees for the following purp05es- Building Fund". these funds have bttn designated for the purposes of eovering ￿ttIre maint¢nancr cost of the m&in building. and the flats held by the charity. to reduce the Impact of any unexpected maintenan¢e expenditure on thc charity'% available reserycs. Value of fixed #sset5.' the net book value of the properties held as &t the year end has been designated to demonstrate that th¢5¢ are the reserves of the Charity which are not freely avatlable to Cover the charity's expens¢s. as Ihe5c are the reservcs which tied up in the charity's r￿e￿ atssets. Analysis of net a5set5 behvetn funds Unrestrieltd fuDd$ Designated Gener81 T(>tsl funds Tangible assets Investtnents 2.463.969 200.000 37,375 23 2.501,344 200.023 243.433 ?,941,8(M) Net current assets 104,880 2.768,849 138,553 175.951 Total net asset$ At 31 Mareh 2025 19 Danish Young Women'5 Christian Association in London (ChArity number: 249198) Balance Sheet as at 31 March 2025 21125 2024 IYot¢ Flxed asset9 Tan8ibl¢ frxed assets Investments 10 2.501.344 200.023 2.585.768 23 Current ¥4ssets Debtors Cash at bank and in hand 12 2,841 304.761 307,602 29.713 502.467 532.180 Credltors: Amounts failing due witbln one year 13 {64,169) (63,444) Net current ￿sets 243,433 468.736 Net assets 2,944,800 3,054.527 General unTestri¢ted fimds Designated unrestricted funds 14 14 175,951 2,768,849 2,944,800 205,345 2,849.182 Total fuThd$ 3.054.527 The finan¢ial Slalitnent5 wer¢ approved by the trustees. and authoT15cd for i58ue on l* I V4.. their behalf by: sign¢d on S Rosenfalck li Danish Young Women's Christian A550ciation in London Notes to the Financial St4tem¢nts for the Year Ended 31 March 2025 l Accountlng polieles Summary of 5igThifLcant actountiThg polieles and kev aecoundng estlmates The piineipal accouniing policies applied in the prepararioll of ihese fiDanLial staternents are set out below. These poli¢i¢s have been consistently applied the years presented, unl¢$s otlierwise stated. Bisis of preparation The finuncial btaieinents have beep prepared in ￿lOrd￿nCe with 'ALLounting and Reporting by Charities.. Stdtemenl of Reiomminded Practicc applicablc 10 ChdriiiLS PTeparing iIi¢iT aLcouiils Iii accordance with IhL FinanLial Reponii)L* Standard JpiiliLable in The UK and RLpublii uf Ireland IFRS 1021 Iscifmd Edition). and the Financial RLPllrtin¥ Siand4ird thpplicable in the UnitLd Kinbydi)m and Rcpublic of Ireland IFRS 1021 and the Charities Act ?01 l and UK Generally Accepted Practice as il applie5 from l January ?019. The finai)cial slalemen15 have been prepared to give a 'tnie and fair. view and have departed from the Charities (Accounts and Reports) RegulatiotLS 2008 only to the eXte￿t r¢quired to provide a 'true and fair vi¢w'. This deparmrc has involvcd following 'Accounting and Reponing by Charities.. Stutcinont of R¢bOlnlllLlI(lL￿ Practice applicable to ¢harities prepuiing their acLouDts In accordvide ¢ore fviidin&F are recogiised when rlie Charilv has entiil¢Tnent 10 the incom¢. it 15 PTob2ble that the inLonic will be recci￿.¢d. and the amount can be meabured with sutTicieni rcliability. 12 Danish Young Women's Christian AssocRation in London Notes to the Financial Statements for the Year Ended 31 March 2025 E%penditsre All cxpenditure i.% Tc¢ognised once there is a legal ar constructive obligation to that expenditure. it is pnTrbable settlement is requii.ed and the amouni can be tnea8LITed rcliably. All cost5 are allocatcd lo the applicable expendiiiire headiiig thar aggregate similar ¢05ts to that eaiegory. Where eosls cannot be directly atrribiited to particiilar headings they have been allocated on a basis coiisistent with the us¢ of r¢sources, with central staff costs allocated on the basis of time $p¢nt, Ind depreciation charges allocated on The portion of tbe asset's use. Other support costs are allocated based on th¢ Spread of staff costs. Charitgble expenditure Charitrbl¢ expenditure comprises those Costs incurred by rhe Chariry in th¢ d¢livery of its activities and services foT its beneficiaries. Ir includes both costs that can be allueated directly 10 such activities and those costs of it)direci nature necessary to gupport them. Support eo$t$ Suppon costs in¢lud¢ eenlral functions and have been allocated to activity cost categories on a basis consistent with the use of ie50urces, for example, allocaling property c0515 by floor areas, or per ¢2pita. staff costs by the lime spent and other c05t5 by th¢ir usage. Govern•n¢e Costs Thcse includ¢ the L05ts attriblllable to the Charity's compliance with eonstituiional and statutory requirement& including audit. strate8ic management and TTU5tees' meetings and reimbllrsed expenses. Tanglble fixed assets Property* plant and equip]nent ar¢ measured at cost. net of depreciation and any impairnient losses. Tangible fiK¢d assets arc staled at COSt le55 dtprcciation. Depreciaiton is provided al rates Calculated to wrhte off the cosi less estiTnated residulll value of ¢a¢h a55Ct over its expceted useful life, a$ follows.. FIX￿re$, fittings and equipment Leaschold flats Freehold pr*p¢rty 5 to 15 years straighi lin¢ 50 yeaTS Straight line 20 to 50 year5 str2ight line InYe5tment$ Fixed asset inv¢slm¢Dts in uJTrlisted shares are shown ai cost less provision for impairment. Other fixed asset investments arc initially reco￿Ls¢d at cost and are subSeq￿entlY measured at fair value.. rinanclAI Instru￿entS The Chthnty onlyenters into basic tinancial instrument transactions thai result in the recognition of financial asseL5 and Itabilitie5 like other debtors aiid creditors aiid loans fi'trni relaled pdrlie¥. Financial asset5 that are measuted at cost and amort15¢d ¢osi are assessed at the end of each rewrting period for objective evidence of imp3imient. If objective eviden¢¢ of impairtnent 15 found. an impainnent loss is r¢¢ognised in profit or Ioss. Fillancial assets and liabilities are offset and the net amount reported in rhe Balan¢e Sheet whcn there is an enfor¢¢able light 10 set off the recognistd amvunts and ihcrc is an iniention 10 settle on A nei basis or to realise the asset at￿ setile the tiability simultaneously. The charity does noi hav¢ anything other than basic financial insttutnents. 13 Danish Young Women's Christian Association in London Notes to the Financial Statements for the Ye8r Ended 31 March 2025 Debtors Oiher debioTS and cabh are iniiially m¢asur¢d at seiilemenl arnount due after any di%ounts offcred. PTepaymenis are valued ar ihe ainouni preydi¢L nel of any disLUUnts. Financial asset% are classified as receivablcs within one y¢ar and are not amoitised. c￿Sh 4nd ¢Ash equlvalertts Cash and cash equivalents compTise cashon hand and call deposits, and other shorÉ-term highly liquid investments that are readily converiible to a knowi amount of cash aiid are subject to ali iE15i¥tLifi¢ani risk of chang¢ in value. Creditors TTade creditors are obligations to pay foi. goods or seTViCCS that have been acquired in the ordinary coll￿t of business from suppliers. Accounts payable are classifled as ¢urmt liabilities if the Charity does noi have an unconditional right, at the end of the reportiiis period. to defer settlement of the cieditoi. forat least twelve months after the Teporting d8te. If there is an unconditional right to defer selll¢ment foT It least iwelve nJotLth5 2ft¢r th¢ reporting d￿e. they are presented as non-cutrent liabiliiie5. Trdde credito[5 are re¢oÉnised initially at the transaction pri¢e and subsequently measured at amortis¢d c05l using the etTective inlerest method. Foreign currenty transactions and bal*n¢es Transactions denomillaied in foreign ¢urren¢i¢s are recorded at the rale rnling at th¢ date ot" the traTLsaction. Monetary assets and liabilitie5 deE)ominated Jn forei8n cU￿enC1c5 are translated into stcrling at the rntes of exchange wling 2t the balance sheet date. All diff¢rences are included in n¢t movements in funds. Judgements and key sources of estlmAtloD uncertainty In lh¢ applicatiort of thc charity'5 accounting policies. the trustees are required to Tnake judg¢menls, estimates and as5UmPtions obout the carying amount of assets and liabilities that 3r¢ noi readily apparent from other wurce5. The estirnates artd associated a5SUThPtions are based on hi5tOTi¢a] experience and otheT factors that are relevanL Acwal results may differ from Ihese estimates. The estimates and llndeTlying assumptions are ieviewed on an ongoing basis. Rtvisions to Hccountirtg estimates are rccognised in the pcriod ID which the estimate is r¢vised where the revision affects only that period, or in the period tsf the reyision and futUTe periods wh¢[¢ the ievision affects both current alth futsre ptriods. Th¢ mL5tees consider that depreeiation ha5 been a signific8nt judgement and key source of e5th]nation uncertainry in the year. Depreciation.. The clwity depreciates its assets over their estimated usefiLI economic life. The carrying amount of fixed a5Kts ai lh¢ y¢dr end 15 £2.501.344 (2024-. £2,585,768) 14 Danish Young Women's Christian Assoflation in London Notes to the Flnanci41 Statements for the Year Ended 31 March 2025 Ineome from donation$ T•t#l UNre5trirted fund5 2025 Total 2024 Friends of Danish Young Women's Christian As50cTation in London Other donations 35,864 69,435 105,299 38.314 74.662 112.976 Included witlJin oiherdonaiions are general dvnationb. as well as amounts received from Danibh ChurLhe¥ Abroad. A corresponding eKpcnse has bcen in¢lud¢d within staff costs. in note 9. Cbarit8bl¢ activltles Total Unrestrl¢ted funds 2025 Total 2024 Bed and breakfast Other mea15 and lautjdry Rental income 251,234 15.057 77.657 343,948 257,978 20,221 79,263 357.462 Other trading activities Total Unrestrlcted funds 2025 Total 2024 Fundraising event Sundry iThcom¢ 16,123 3,767 19,890 6.372 1,555 7,927 Investment inc0￿e Total Unrestricted funds 2025 Total 2024 Interest receivable on bank deposits 9.075 9.075 6.91a 6.910 15 Danish Young Women'$ Christian Association in London Notes to the Finaneial Statements for the Ye&r Ended 31 March 2025 Expenditure on Charitable *£tivltles Unre$trltted De51gnated fund$ funds 2025 21125 Total 2025 Total 2024 Staff costs Provi%ions RcpaiTS and mainrenance for hostel Repairs and mainrenance for flats Jnsurance Water rates and council tax Cleaning Gas and electricity Equipment and repair5 Oiher costs Lin¢n laundry Teltphone Inttmet Newspapers and 5ubscriptivns Depreciation of furniture aDd fittings Depreciation of building Depreciation of leasehold flats IProfity1055 on disposal of fixtures and fittillgs Garden nMinl¢nan¢¢ Allocated support Costs Inole 6.1) Allocated governan¢¢ costs (note 6.11 Total 2?7.175 36,685 47.271 47.034 10,191 4.977 16.136 22.552 1,529 24,812 8,525 2,184 1,815 1.277 5,959 ?27,175 36.681 47.271 47.034 10.191 4,977 16.136 22.552 1.529 24,812 8,525 2,184 L90,235 37,430 43.600 26.385 11,825 11,520 17,372 13,246 1,881 24.288 9,73 1 2.¥41 684 2.240 5,821 28,650 51.582 340 2,212 33.536 8.118 523,537 1.277 5,959 28.749 51.584 28,749 51,584 2.505 38.639 8.344 507,606 2,505 38,639 8J44 587,939 80.333 AAalysSs of governallce and support costs Suppo Co$ts Govern4nce co$t$ Total 2025 Bookkeeping fees Printing and ￿atIOnery PD5tage and carriage Marketing and advcrti8ing Rectuitment IT and sothYar¢ wsts Audit atld accountancy fee5 Bal￿ ch3rg¢5 Professional fees Total 7,000 576 .323 7,267 7.000 576 1,3?3 7,267 9.356 9,356 8,344 12,776 341 46.983 8.344 12,776 341 38.639 8.344 16 Danish Young Womeo's Christfian Assoelation in London Notes to the Finantial Statements for the Year Ended 31 M%r¢h 2025 Exceplional Items Total Unre5trieted fullds 2025 Total 20Z4 Exceptional item5 31.144 Excepiional item% comprise one-off payments of busTne5s ral¢s from 2017 to ?023. Th¢ tTUStees have Confimicd with the local council ongoing payments in relation to ￿t￿re business rates and therefore the tn￿tee$ do not expect any additional exceptional paytnent5. TnJ$tee5 remuneration and expeDse$ No trustees, nor any pctsons connected with thern. hav¢ received any remuncration from ￿1¢ ¢harity duTill8 th year. No trn51ees hkwe received any rel￿bUrsed ¢xpense5 or arty other benefits fiDm the charity dllring the year. Staff nutllber5 The 8￿regate payroll costs were as follows.. Tot*1 Unre5trl¢ted runds 2025 Tot*1 2024 Wage5 and salaries Social 5eLUTity costs Employer contTibuiions to defjned contribuiion pension slhemes Tool staff eosis ?17.833 3,643 5,699 227,175 184.1?7 66? 5,446 190,235 Tbe average rnonihly headcouDt employed by the Charity during the year was 85 follows.. 2025 No. 2024 Support staff Seconded employees from Danish Churches Abroad Total (Ine tlnployee is seconded from the DAnish Churches Abroad. to &ssist with rnnning the charity. Included within other donations, atLd tfc05ts. arc ¢vrrLwndin¥ amounts to record th¢ inian&Tible income and expcnse for the costs rclalLng to this blLonded LtnpluyLI. There was no employee that rcLeived etnployee bertefit5 of more than £60.(K)O. 17 Danish Young Women's Christi&n Association in London Notes to the Financial Statements for the Year Ended 31 March 2025 Tangible fixed asset5 Freehold FIKture titting5 & equlpmeTht Leasehold tlats b￿lI￿l￿gS Totgl Cost At l April ?024 Addition5 Di￿PoSalS Ai 31 March 2025 1.175,461 ?,579,1?0 140.58? 1,868 3.895.163 1.868 1.175.461 2.579.120 142.450 3,897,031 Depreciation aDd impalrment At I ApTiI 2024 Dcprecia¢ion Charged in the year Disposals At 31 March 2025 530.531 28,749 679.748 51,584 99.116 5.959 1.309.395 559,280 731.332 105.075 1,395,687 Carrying amount At 31 March 2025 616.181 1.847.788 37.375 2,501.344 Ai 31 March 2024 644.930 1,899 72 2 585,768 li InvestmeDt5 unli￿¢d shares Other Investments Total 2025 Toial 2024 Cost At l April 2024 Additions AI 31 M3Frh 2025 23 23 ?0(J.(￿O 200.023 23 23 200.000 23 Debtors Tot¥41 2025 Total 2024 Sundry debtors and prcpayments Camden council debior 2.841 7.466 2.t141 29.713 18