Huddersfield Ymca (03024787): administration
- Status
- Administration ended
- Administration began
- 2019-09-11
- Incorporated
- 1995-02-22
- Location
- Cleckheaton
- Industry
- 88990 Other social work activities without accommodation n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Pension deficit
From the administrators' statement
The Company is a club that is fully focussed on junior, youth and senior sports development in football and rugby and also encourages community links to sporting and recreational activities. The Company has always relied on the work of unpaid volunteers to ensure the club ran smoothly.
The Company has only ever made a small trading surplus each year, with the limited funds made always being invested back into the club for the benefit of its membership and the future development of the site.
The Company has, however, suffered from uncertainty regarding legacy issues that were inherited by the current Board regarding a pension scheme that was entered into with the YMCA Pension Plan Trustee Limited (“the Trustees of the Scheme”) in 1960.
Administrators' statement of proposals (2019-11-02) · Companies House register