2020-12-31-accounts

FULHAM AND SOUTH KENSINGTON

YOUNG MEN'S CHRISTIAN ASSOCIATION

REPORTS and FINANCIAL STATEMENTS Period ended 31 December 2020

Charity no. 251555

641-643 Fulham Road London SW6 5PU

FULHAM and South Kensington YMCA

Annual Report of the Fulham & South Kensington YMCA

Résumé

The previous Annual Report, dated 14th May 2020 summarised activity and events during 2019/20 concerning the hostel, the three attached shops, and Cranford Road, Tonbridge. This report provides an update for 2020/21, with the exception of financial transactions, which are summarised to the end of 2020.

Executive Committee Meetings

The Executive Committee (including the Trustees as ex-officio members) meets each year immediately before the Annual Meeting. The other three main committee meetings took place on 2nd July 2020, 15th October 2020 and 21st January 2021, and additional meetings were scheduled during the year in order to monitor the financial situation more closely during the pandemic. For safety reasons these were all held online. This year's Annual Meeting and the preceding committee meeting will also be online. Although there is no direct provision for this in the rules, this is permitted under a dispensation from the Charity Commission. We plan to amend the rules to specifically include this in future.

The Hostel

The hostel is in good condition and well-presented. Following prolonged negotiations a rent review settlement could not be reached, and therefore the process was referred to arbitration.

Shops

All three shops are currently leased out, but have obviously been adversely affected by lock-downs. We are monitoring the financial situation carefully. Day to day management of the properties is overseen by a local firm of Chartered Surveyors.

Cranford Road, Tonbridge

The specialised facilities at Cranford Road continue to be enjoyed by a person with chronic special needs and her full-time carers. The initial mortgage has been repaid in full; a much smaller sum remains, which was advanced at a later date. The property, which is directly managed, remains in good order. The electrical installation was tested by a qualified contractor and certified as satisfactory on 31/08/2020. A Domestic Electrical Installation Condition Report has been issued to the Trustees, as landlords, and copies lodged with the tenant and the local authority.

Allocation of Funds

During 2020 we have been able to support the following projects

• (1) Six church-based youth workers based, respectively, at St. Peter's Fulham (two youth workers), St Matthew's Fulham, St Mary's West Kensington, St John's Chelsea and St John the Baptist Littleworth, Stafford.

• (2) An Assistant Pastor at Twynholm Baptist Church Fulham who oversees and participates in Youth Work.

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FULHAM and South Kensington YMCA

Risk Assessment and Reserves Policy

When making grants we carefully assess each project before agreeing funding, performing necessary due diligence on the churches and other organisations making applications. We noted last year that we had to increase our reserve funds and reduce grants by 20% in order to survive the financial drain of an empty shop. Painful as this was, it did leave us in a stronger position when facing the much greater potential threat caused by Covid. This is, of course, by no means over, and many businesses remain vulnerable as they attempt to re-start after lock-down. We have, therefore, needed to liaise closely with our tenants and to be extremely prudent in our spending. The current reserve now stands at around £100,000; there are no plans to reduce this in the near future. We felt it necessary to suspend grants in May, and to encourage beneficiaries to make use of the government's furlough scheme, but were thankful to be able to reinstate them in September. We have continued to maintain them at this level; however, we do not plan to increase funding any further until there is more stability in the economy.

Public Benefit

When assessing projects, the management committee has regard to the guidelines set out by the Charity Commission and the objects of the Association. Beneficiaries are requested to report on their work to the Association's Annual Meeting (where possible). The committee therefore considers that in providing accommodation for a disabled person and her carers, and in making the above grants to further various projects benefiting other Christian communities and their neighbourhoods (with a particular focus on outreach to young people) it has fulfilled the public benefit requirements of the charity and met the objects set out in our rules of association.

Conclusion

We thank God for His provision during an exceptionally difficult year, and pray for wisdom as we navigate the path out of lock-down.

Joel Shepherd 19 May 2021

The Trustees

Paul Laffey, Andrew Maltby, Jonathan O'Brien, Ivor Sowton, Jeff Shepherd

The Executive Committee

David Griffiths, Paul Laffey, Andrew Maltby (Treasurer), Martin McCauley (Chair), Joel Shepherd (Secretary), Ivor Sowton, Jeff Shepherd, Martin Hartigan, Jonathan O'Brien, and Jonathan McDowell

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and South Kensington YMCA

FULHAM

Balance Sheet as at 31 December 2020

General Fund Balance Brought forward Less: Excess of income over expenditure Surplus carried forward Represented by: Rent paid in advance Debtor Cash with CAF Bank 41396.14 Deposits with CAF Bank Creditors Rent in advance Total	2020 2019 11,017.34 13,762 86,469.54 (2,744)
	£97,486.88 £11,017
	0.00 0 20,692.68 13,608 103,961.56 35,709 0.00 0 (900.00) (600) (26,267.36) (37,699)
	£97,486.88 £11,017

Notes to the accounts Basis of preparation:

These accounts have been prepared on a receipts and payments basis and accord with s42(3) Charities Act 1993, modified for unpaid liabilities which were contracted for prior to the balance sheet date, no distinction being made between transactions of a capital or revenue nature.

Non monetary assets:

The YMCA trustees are the beneficial owners (subject to the relevant trusts) of the following assets, the legal title of which is held by the trustees:

Land and buildings

The land and buildings situated at 641-643 Fulham Road, SW6 5PU and at 1 Cranford Road, Tonbridge, Kent.

Liabilities

The Stafford Railway Building Society have a charge over the freehold property in Tonbridge to secure a mortgage of c.£10,908.

Treasurer's report to the Trustees

The accounts and statement of assets set out on this and the attached pages relating to the year ended 31 December 2020 are as approved by the committee of management

Andrew Maltby Treasurer 19 May 2021

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FULHAM and South Kensington YMCA

Independent examiner’s report to the trustees of the Fulham and South Kensington YMCA

I report on the accounts of the Fulham and South Kensington YMCA for the year ended 31 December 2020 which are set out on pages three and five.

Respective responsibilities of trustees and examiner

As the trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of the procedures specified in the General Directions given by the Charity Commissioners under section 43 (7)(b) of the Act, whether particular matters have come to my attention.

Basis of the independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

To the trustees:

Independent examiner’s report

In connection with my examination, no matter has come to my attention:

• 1 which gives me reasonable cause to believe that in any material respect the requirements

• to keep accounting records in accordance with section 41 of the Act; and

• to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act

have not been met; or

• 2 to which, in my opinion, attention should be drawn in order to enable proper understanding of the accounts to be reached.

Stuart Moffatt

London

19 May 2021

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FULHAM and South Kensington YMCA

Income and expenditure account for the year ended 31 December 2020

Income £0.00 budget Donations, offerings and tax recovery 0.00 Rents 144779.74 Insurance reimbursed 2927.50 Membership fees 0.00 147707.24 Interest 0.00 Mortgage advance 147707.24 Expenditure Insurance 3364.80 Maintenance/Rates 10186.09 Meeting expenses 1539.83 Accountancy 50.00 Bank charges 60.00 Mortgage payments 1885.98 Professional fees 300.00 17386.70 Donations Youth work 34891.00 Sundry 8960.00 43851.00 Total expenditure 61237.70 Excess of income over expenditure 86469.54	2020 0 0.00 144780 117767.44 2928 2892.84 0 60.00 147707 120720.28 0 7.89 0 147707 120728.17 0 0 0 3365 3381.09 10186 9336.40 1540 2549.59 50 50.00 60 60.00 1886 10948.32 300 400.00 17387 26725.40 0 34891 81947.00 0 8960 14800.00 43851 96747.00 0 61238 123472.40 £0 £86,470 (£2,744.23)	2019 0 117767 2893 60
		120720 8 0
		120728
		3381 9336 2550 50 60 10948 400
		26725
		81947 14800
		96747
		123472
		(£2,744)

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