YMCA LONDON CITY AND NORTH

Company Registration Number:
03169665 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

YMCA LONDON CITY AND NORTH

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

YMCA LONDON CITY AND NORTH

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 11,552 15,116
Tangible assets: 4 24,297,397 24,494,782
Investments: 5 575,919 505,576
Total fixed assets: 24,884,868 25,015,474
Current assets
Stocks: 9,065 17,765
Debtors: 6 654,446 1,092,151
Cash at bank and in hand: 486,910 230,945
Investments: 7 1,347,939 20,598
Total current assets: 2,498,360 1,361,459
Creditors: amounts falling due within one year:   (2,813,524) (10,521,964)
Net current assets (liabilities): (315,164) (9,160,505)
Total assets less current liabilities: 24,569,704 15,854,969
Creditors: amounts falling due after more than one year: 8 (17,722,371) (9,351,577)
Total net assets (liabilities): 6,847,333 6,503,392
Capital and reserves
Called up share capital: 1 1
Other reserves: 6,503,391 6,377,112
Profit and loss account: 343,941 126,279
Shareholders funds: 6,847,333 6,503,392

The notes form part of these financial statements

YMCA LONDON CITY AND NORTH

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 September 2024
and signed on behalf of the board by:

Name: Mr Marek Wiluszynski
Status: Director

The notes form part of these financial statements

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 103 115

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible Assets

Total
Cost £
At 01 April 2023 34,039
Additions 695
At 31 March 2024 34,734
Amortisation
At 01 April 2023 18,923
Charge for year 4,259
At 31 March 2024 23,182
Net book value
At 31 March 2024 11,552
At 31 March 2023 15,116

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 27,133,716
Additions 485,520
Disposals (246,766)
At 31 March 2024 27,372,470
Depreciation
At 01 April 2023 2,638,934
Charge for year 682,905
On disposals (246,766)
At 31 March 2024 3,075,073
Net book value
At 31 March 2024 24,297,397
At 31 March 2023 24,494,782

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Fixed investments

At each reporting date an assessment must be made of whether any indicators of impairment exist. No impairment indicators have been identified for the year ended 31 March 2024 (2023: none

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Current investments

In addition to the above investment the Charity held shares in a wholly owned dormant subsidairy, which are carried at £nil.

YMCA LONDON CITY AND NORTH

Notes to the Financial Statements

for the Period Ended 31 March 2024

8. Creditors: amounts falling due after more than one year note

A loan facility is in place with Unity Trust Bank for £8,808,750 secured on all property or undertakings of YMCA London City and North at 31 March 2024 this had been fully drawn down. This repayment of the loan is on an interest only basis for a period of 60 months from the first date on which any part of the loan is drawn, There after on a capital and interest basis by regular payments calculated over a repayment profile of 240 months. Interest on the loan is charged on a daily non compounded basis at 1.5% per annum over the Bank of England bank rate. YMCA London City and North drew a bounced back loan from the Co-operative bank £50,000 in November 2020. The loan is repayable over five years, we received a 12 month repayment holiday to November 2021. The interest for the first year of the loan was paid by the Government via a Business Interruption payment