YMCA TRINITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. FIXED ASSET INVESTMENTS (continued)
Subsidiary undertakings
Joint ventures
Total
£
£
£
Cost or valuation At 1 April 2024
19,874
50
19,924
Additions Disposals
- - -
- - -
- - -
Movement in fair value
At 31 March 2025
19,874
50
19,924
Kirkgate Street Ltd is a joint venture in which the group has joint control and a 50% ownership interest. The objective of the joint venture is to work together on the long lease and development of housing property. The registered office for Kirkgate Street Ltd is Marine House, 151 Western Road, Haywards Heath, RH16 3LH.
As required by FRS 102 and the Housing SORP, the financial statements consolidate the results of The Cresset Limited which is a wholly owned subsidiary of YMCA at the end of the year.
YMCA holds 100% of the ordinary share capital of The Cresset Limited (incorporated in England and Wales). The principal activity of the company is the operation of the theatre, pub and other commercial trading operations. The registered office for The Cresset Limited is the same as YMCA. YMCA is the ultimate parent undertaking.
During the year YMCA charged a management fee of £229,680 (2024: £235,883) to its subsidiary, The Cresset Limited. A gift aid donation of £nil (2024: £nil) was paid to the YMCA by The Cresset Limited during the year. The amount owed by The Cresset Limited is disclosed in note 18 of £383,762 (2024: £74,409).
15. TAXATION
Group
YMCA
2025
2024
2025
2024
£
£
£
£
Deferred tax: Origination and reversal of timing differences
-
-
-
-
YMCA has a charitable status and it is therefore exempt from corporation tax on income arising from exempt sources to the extent that it is applied to the organisation's charitable purpose.
YMCA Trinity Group 18
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