FULHAM AND SOUTH KENSINGTON
YOUNG MEN'S CHRISTIAN ASSOCIATION
REPORTS and FINANCIAL STATEMENTS Period ended 31 December 2023
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 13th May 2023, summarised activity and events during 2022/23 concerning the hostel, the three attached shops, and Cranford Road Tonbridge. This report provides an update for 2023/24, with the exception of financial transactions, which are summarised to the end of 2023.
Executive Committee Meetings
The Executive Committee (including the Property Trustees as ex officio members) meets each year immediately before the Annual Meeting. The other three main committee meetings took place on 8th July 2023, 14th October 2023 and 20th January 2024. In accordance with current regulations, all committee members are registered as Trustees.
The Hostel
The hostel is in good condition and well-presented. The lease with Springboard has been extended from 2027 to 2042 as previously agreed.
Shops
All three shops are currently leased out. Although we are now in a strong financial position, we are nonetheless aware that the current state of the economy (and therefore our income) remains uncertain. 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 carers.
Allocation of Funds
During 2023 our additional funds have made it possible to extend our support, which has included grants in respect of the following projects:
(1) A total of nineteen church-based youth workers at Community Church Putney, Rise Academy (in association with The Bridge Church Battersea,), St John's Chelsea, St John's Littleworth (Stafford), St Mary's West Kensington, St Matthew's Bayswater, St Matthew's Fulham, St Michael's Fulwell, St Peter's Fulham and St Stephen's Westbourne Park. (Some of these were part-time appointments, and some youth workers left during the year.)
(2) An Assistant Pastor at Twynholm Baptist Church Fulham who oversees and participates in Youth Work.
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(3) A student undertaking an internship with the Saltmine Trust (a Christian Theatre company). (4) The Stafford Passion play (also put on by the Saltmine Trust).
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(5) A CPAS Falcon camp which included children from Fulham who otherwise might not have been able to attend.
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FULHAM and South Kensington YMCA
Incorporation
The Property Trustees and the Committee have instructed solicitors to advise them on the best way to modernise the 1898 Trust Deed and move towards incorporating the Association. Discussions concerning this are ongoing.
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 aim to have sufficient reserves to honour our commitments to our beneficiaries should any problems occur with our income stream.
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 continued provision, and pray for wisdom as we seek to restructure the Association to meet the challenges of the twenty-first century.
Joel Shepherd 11 May 2024
The Property Trustees
Paul Laffey, Andrew Maltby, Jonathan O'Brien, Ivor Sowton, Jeff Shepherd The Executive Committee
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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FULHAM and South Kensington YMCA
Balance Sheet as at 31 December 2023
| General Fund Balance Brought forward Excess of income over expenditure Transfer (to)/from designated funds Free reserves Designated reserves Total funds Represented by: Rent paid in advance Debtor CAF Bank Creditors Rent in advance Total |
2023 73,296.09 22,517.31 (79,953.00) 15,860.40 303,953.00 |
2022 97,557 51,739 (76,000) |
|---|---|---|
| 73,296 224,000 |
||
| £319,813.40 | £297,296 | |
| 0.00 35,519.90 329,089.48 (605.00) (44,190.98) |
0 6,937 335,282 (850) (44,073) |
|
| £319,813.40 | £297,296 |
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 are no charges over the freehold properties of the trust.
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 2023 are as approved by the committee of management
Andrew Maltby Treasurer 11 May 2024
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and South Kensington YMCA
FULHAM
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 2023 which are set out on pages three, five and six.
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:
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1 which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 41 of the Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
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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
11 May 2024
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FULHAM and South Kensington YMCA
Income and expenditure account for the year ended 31 December 2023
| Income £0.00 budget Donations, offerings and tax recovery Rents 164488.19 Insurance reimbursed 3359.59 Membership fees 167847.78 Interest 676.19 Mortgage advance 168523.97 Expenditure Insurance 4325.26 Maintenance/Rates 5759.04 Meeting expenses 1891.48 Accountancy 50.00 Bank charges 60.00 Mortgage payments Professional fees 21840.88 33926.66 Donations Youth work 81825.00 Sundry 30255.00 112080.00 Total expenditure 146006.66 Excess of income over expenditure 22517.31 |
2023 0 0.00 164488 163693.31 3360 3515.98 0 30.00 167848 167239.29 676 283.22 0 168524 167522.51 0 0 0 4325 4025.19 5759 8630.92 1891 1793.79 50 50.00 60 81.50 0 9945.63 21841 450.00 33927 24977.03 0 81825 70852.00 0 30255 19954.00 112080 90806.00 0 146007 115783.03 £0 £22,517 £51,739.48 |
2022 0 163693 3516 30 |
|---|---|---|
| 167239 283 0 |
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| 167523 | ||
| 4025 8631 1794 50 82 9946 450 |
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| 24977 | ||
| 70852 19954 |
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| 90806 | ||
| 115783 | ||
| £51,739 |
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FULHAM and South Kensington YMCA
Notes to the accounts
Designated funds
The trustees have allocated funds to meet future commitments which are held as to:
| Contingency reserve Youth work Other work Net movement in funds Movement in 2022 |
2022 Allocated 124000 0 80000 138014 20000 54019 |
Expended 2023 124000 81825 136189 30255 43764 |
|---|---|---|
| 224000 192033 |
112080 303953 |
|
| 148000 | 79953 76000 224000 |
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