Crewe YMCA ￿n￿ted Fin8Dcixl Statements For'fbe Year Ended 31 m￿Ch 2t)22 Regulator of Social H•uilng Regi5t¢ted No. H4058 Re8lstered Charity No. 1030782 Registered Company No. D2875065 Crewe YMCA Limited Financial Statements for the Year Ended 31 M*reh 2022 Contents Page No Legal and Adminis¢rative Dethils Board lieport 2-15 Siaiem¢ni of Corporate Goveman¢¢ and Iniemal ConttDI$ 16 Independeni Audiior's Report 17-19 Staiemenl of Con)prehensiYe Income Reiained Earnllws 20 Staiemenl of Financial Position Ststemtnt of Cash Flow5 22 N(ples io the Financial Statements 23-32 Crewe YMCA Lfimited Page I Leg41 and AdmiDi5trative Details Regulator of Social Housffing (RSH) Registered Charity Number Company Registration Number H4058 1030782 02875065 Board Dlrectoys: Ms J Turley {￿alr> Mr P Pitcher Ms A Morgan M5 S Ward Ms R Adams Ms B Hurst Ms B Banks Ms S Tothill Mr A Veale Mr B Ellison (Tesigned 111 IQI) Exetutive Direttor: Mr M Hilis Chief Executive Offjcer Comp#rty Seeretary: Ms S Bishop (Head of Corporate and Community Service5) Reglstered Offi¢e: 189 Gresry Road Crewe Cheshire CW2 6EL ExternAI Audllors: Beever and Sirnthers Si. Geor8E s HO￿$t 215-219 ChE5terRo MaTKhes(er M154 Bankers: Batclays Bank plc Crewe Branch 38 Markd Stred Crewe CWI ?ET Princlpal Solieltors: Bowcock Cuerden LLP South CheshiTe House Manor Road Nantwich Cheshire CW5 5LX Crewe YMCA Llmited Page 2 The Board of Manggement presents its report and aceouDts for the Year Ended 31 March 2022. Our Aitns objective5 YMCA Crewe is a Christian Charity ihai respond5 to local need by creatively investing in people's liv¢s in particular young peoplt, and the community through all our project5 sncluding lIou5in& Learning, Family Support. W0￿]ng wilh children and our social enlerpri5e5 the GLO Cafe and Property Maintenance Service. Inspired by our Christian faith and commitsnenL YMCA Crthbe aims to relieve orassisl in the relief of people of ages and in particular young people, who are in conditiOTYS of need, hartship. ordsstress. because of their social, physical, emotional. 5pirihial, or eeonomic circumsrantts. Our Values We believe that each person has unique kh)tential and skills io be explored and delivered We believe that a 'can do. approach is criti￿1 for facilitaiing change in people'5 lives We believe in the Christian Basis and Mission of the YMCA Our Vision We aim to provide better liyes and better futures for people and communitkes by: Engaging and supporting ¢hildren aNI familie& slaying connected in the places they live Working with ihe raients of people making traosirions io independertee Eleginning the end of the homeless experience one person at 8 time Our Mi55ion YMCA Cr¢we is a Chn"5tian charty that respJnd5 10 local need by creatively investing in people's lives and the comrnunity through all our project4 incl￿1￿8 housing. learnin& family support and workiDg with children. Ensurlng work delivers our alms Ind objeetiyes We review our aim5, objective4 aNI aaivities annually to ensure all our work and activiti¢s, and the way they are conduc*d, are contributing to the achievemenl of our alms and objectives, i.e., they a￿ serving the needs of people and people who are most vulnerable and at risk of exclusion from main51ream society- This review looks at what we have undertaken in the previous 12 montbs and what the5eundertakings have brought to people. We have referred to the guidance contained in the Charity Commission's general guidawe on public benefil. spe¢Lfi¢aily, how planned aetivities will Contiibute to the aim5 and objectives they have set. The expansion of our work During the year. we have seen a broad and modest expansiort of our activities across our service arvds in the development of social enierprises and addiiional conttacied work with young people aged 16-18 with our accommodatiort and support. Housing This year we invested in building five additional units of self-eontained accommodation at our Gresty Road site, th¢5¢ units were designed in consul1￿10n with service users and takes the total number of unit5 at Gresty Road up to 67. The GLO Café- a soeial enterprlse The Glo Café has been deyeloped to provide hTrgh impact trainang opportunities within a hospitality environment ￿1th1n the Café. GLO siands for ￿0w[h. life. and tspportunitie5. We have successfully WOTkcd with seven young p¢opl¢ through the Govemmeni Jnitialive kickstart programme whereby unemployed people are provided with OP￿rIunity to kickstsrt employment. Nio have gained full time employment Working in the hospitality sector. one entered Keele Universiry to sThdy Psychology. the other four are being sup￿rted with job sea￿h and intervTew skills. The café ha5 become a'go-to" venue for the local communiry. It is a restaurant for lunch time for I￿1 bus7nesses and through ouroutreach we are getting regular visitors of all ages cnjoying the Café's refresljments. Crewe YMCA Limited Page 3 Property Mainienance ServSce (PMSI- a social enteryrise This h&s been developedw respond io ihe needs during Ihepandemic where high4tuality, cost-effeciive maintenance services with an awareness of ihe needs of vulnerable tenanis could be caiered for. The PMS has been able io respond ro the gap in the market providing cosi-effeciive. high-quality services to letting agents andprivate landlords alld employmeni oprrf)rniniry 10 local people. We are working with Cheshire Easi Cowicil, SUPPOllin8 local people expenencing hoarding issues by providing ho￿$¢ clearance services. Contracts YMCA has respondcd to the loss of a local authority Tevenue Contract for peopl¢ agcd over 18 by adapling and enhancing ils offer in a tNly holistic way enabling people to receive an offer which is not just abo￿ accommodation, engagemeni and support but also about providing a level of certainry and stability the person can stay at YMCA Crewe as long as reasonably required to cnsure they can belong, contribute 2nd thrive once they take ihc nexl St4) into being part of the wider community. We have also been successfid maintaining our revenue contrdth for work with people aged under 18. As part of the contract with Che5hirc East, YMCA Crcwe have committed fu￿1¢]￿1 resource to develop an additionat 5 high qllality apartments within the main building 2nd the young people who will reside ID the new apartments have been part of thc consultation at all slagc5. Communlty Events and Fvndralslng Community Evcnts were limited in the spring and sllmmer of 2021 as Covid restrictions were eased. Tn September, three cyclists t(M)k part in the Cheshire Cat Sportive cycling event. followed by our second Sponsored Sleep Out held at Crewe Market H&ll in October. Over Christmas we eoordinated an individual giving campaign to rdise rnoney to purchase Welcorne Packs for new residenrs. In March 2022. we hosted our fusi Fiifest evenL a healih and wellbeing b￿ed fundraiser, and a local secondary school ran their own Sponsored Sleep out in aid of YklCA Crewe. We were selected forTesco's 'Blue Token. Communiry Grants scheme in Jan.March 2022, attd received the highest rtumb¢r of tokens which secuTed a wt to pay for the Djnrting costs of our Breakfs Club. We were also chosen 25 on¢ of Co-ops Local Causes for October 2021-22. which will raise money ￿ support residents tsking part in gaTd¢ning 2nd alloth]ent work. We receivedacommunity grant from Anwyl Housing ￿ purchase arts and crafis resources forone of our After School Clubs. and a similar grant through Action FundeT for arls and craft5 Tey)urces for YMCA Crewe residents. Our Corporate Fun(traisJng coE]iinued to grow in 2021-22, with a £501y) donation and additional staff fundraising from Baih8at¢ Group. and Charity of the Year supp)rt from Enterprise. A Dumberof local bussnesses also took part in FundTai5ing Events. We also Saw a number of I￿￿'VidualS organising thcirown sponsored chaJlenEe5, including a seven year old boy who climbed Snowdon, and an increase in the number of people donating Gifis in Kind, including a local six year old girl who collecied donations to put together 50 Welcome Packs for new YMCA Crewe rcsidents. COMM￿NIty W•rk In 2021-2022. th¢ Communities Team support¢d 45 famili¢sthrough our regular a¢tivities. One of the main highlights of the year wa5 the Teturn of our aftcr-sch(bol clubs, youth group. family droTrins, and rcsideni engagement sessions. all of which had to be stopped throughout the pand¢mic. In ihe first week of our activities reopening, 63 individuals attended. Most of ourpTe-pandemi¢ volunteer5 and staffcontinu¢dto work with uswhenouractiviiies reopened, and we I￿k on new volunteers throughoui th¢ year. In addition to our ￿5￿81 a¢tiviiies, we also hosted a Halloween Party, Chri5tllhas Party, Bingo Night, a bike repair shop, and a Slow Cooker Project_ We also took a coachful of Fa￿ll•eS to Llartdudno for a day trip. Some of the highlights from our usual aclivities ore- We ran 4 Holiday Villages in August 2021. which were attend¢d by 600 p¢ople W¢ delivered F.aster E885 and es5eDtia] supplies to 18 Famhlies for East¢r We delivered toys arKI supplies to 101 children and 29 families at Christmas We took on 7 new volunteers. including some of the ieenagers WIKJ attend the youth club on West Street In 2022, we wrapped up our success￿1 Telephone Befriending Service, which we ran throughout the pandemic and came io 8 natural end as Service u5¢rs no longer needed ii. This service provided one-io-one support for socially isolated elderly individuals, as w¢ll 35 giving our 6 volunteers a differeni way olinteracting with people throughout the lockdowns. Those who used the service reponed back thai li was a posilil'e part of their life that made the lockdown period5 easier io bear. Crewe YMCA Limited Page 4 W¢ took on The bungalow adjacent to the onc we already rent on the Sherborne Estate. which has provided additional space for the pDlice 3nd Guinn£ss io work with the Community ar¥1 5trength¢ned our relationship with both. We have heard many incredible success siories from individua15 in our scrYice5 throughout the year including a mum of 6 who is nDW aspiring to be a midwife. a ieena8er from the Sherborne club who gained employment in the Crewe Markei Hall. and a refugce family who we supported to help iheir children access education. Volunteers In May 2021, our Communiry and Volunteer Teatn Leader delivered a short presentslloll to key members of staff to explain how within her additional role she would be supporting and growing the voluntary se¢tor. An exrflirector of the Samaritans, supporting her in this role. We discussed recruitment, trairting. support, retsinmenl and development. The aim was to get staff excited about ID Ihis area and to recognise how valuable a volunieercould be in iheir department. In July, as Covid restrictions coniinuedto be liftedwe began interyiewins pteniial volunteers. Staff PToduced mini volunteer job descriptions. September onwards we beganplacing voluntcer5 afMI had 17 adults and 4 young people. There were inilial ieething problems. As Communication improved between volunlcers. line managers and me things sianed to settle. A5 the yeaT progressed volunteer% stffted io become an integral part of ow delivery. We have had businesses offer u5 volunl¢¢r support. We have also piloted a volunteering buddying scheme whereby an ex-resident is buddied up with a volunteer, olyerins them cmotional and practical support durin8 the initial irdnsilion of living oll iheiT Own. In 2022 we continued to sce gr0￿h and a volunieer was now placed in every aftet-5chiK>I club Mrythin our local community. Volunteers were benefitting from training. experience on ibeir CV. social interaction and gaining confidence in themselves and in thtir skills. We lost a volunteer due to gaining full time employjnent on the back of his experience with us and his much-improved self-belief. We started io have a volunteer meeting every couple of months and were having regular individual reviews with the vols. We also changed the WJY we w¢re rectuiting to have th￿e intakes a ycar {January. May and September). YMCA Crewe Senfiees- Accommodgtion and Housing Related Support Accommodation and Housing Related Support Temain our eore service. In 2021-2022 YMCA Crewe Continued to provide Housing and Suppotl to a range of people incluth.ng peopk experiencing homelessnes& care leavers. cared for children. una¢¢ornpanied a5ylum-seeking children, and refugee5. Irt 2021-2022, we saw an increase in the number of refugee5 we housed th¢y Cu￿entlY made up 160/0 over the overall elient group- This year we invested sn building fil'e additional units of self-coniained a¢¢omnY)daiion at our Gresty Road siie. Ihese units wtre designed in consultation with seTri¢e users and take the ioial numberof units at Gre5ty Road up to 67. The Gresty Road 51t¢ has b¢en carefully designed and provides a eriiical eontriblltion to enditig or preventing homelessness. Each of the 67 rooms are fi￿nIshed. 62 of ihe rcM)ms hav¢ thcir own bathrootty 41 have shared kn"tciwi facilities and 26 are fijlly self- containe In addition to the units at Gresry Roa(L w¢ have eontinued to provide high quality accommodation and support in 13 flats (15 units) in the communiry. D¢mand has Temained high throu8boui the year. Average occupancy wa5 940/•. We continued to provide a Housing Related Supprt Service (HRS 16+). commissioned by Cheshire East Council in 19 of our units. The service is for Young Peopl¢ aged 16+ who ate ￿Te expetieneed and includes unaccompanied asylum-seek]"Dg childr¢n. F￿￿'t of these units are ai our Gresty Road sit¢ {two emergency b¢(ts and three semi-independent b¢d51 and fourt¢en are in the disbursed'lgnition, flats in the Community. Ignition is an innovative paTlnership that supports young people leaving Care lo hai'e the best, most appropriate trJn5ition into independent living. The Panel is rnade up of representatives Social Care, Housing Associaiion5, and Private support provider8 it ha5 been held a5 & model of good practic¢, allowing young people to access thc righi housing option for th¢m in a plJnned and ¢arly way. YMCA Crewe continucd to provide a wide range of additt.onal facilities to our residents. including a café, allotment, a￿1 gym and ran a wide selection of inforn￿l leaming and engagemeni activities thai have been developed to help increase independ¢nt living, employability. life skills. and tmprove healih and wellb¢ing. As COVID-19 r¢striciions eased, participation in these acti￿tIeS has increased ihroughoui The y￿. **Crewe YMCA Limited** **Page 5** Each resident also has access to a dedicated Health and Wellbeing Coach and Employability Coach and has a Housing Coach who works with them on a 1-1 basis. We also hosted 5 student placements in our Accommodation Services, one psychology student and three social work students. This year the Housing and Support staff completed a three-day training course on Psychologically Informed Environments (PIE) and had 12 months of Reflective Practice facilitated by a clinical psychologist. This year we conducted two resident surveys, and the most recent results are below: - 100% said staff are interested in me and support and encourage me to achieve my goals - 84% said I am encouraged to progress into education, training and employment that is appropriate for me - 97% said they feel safe in their accommodation. - 97% said they feel communal areas around the building are kept clean & maintained - 94% said I am supported to develop my independent living skills. - 97% said I am encouraged to use my voice to bring positive change to the service offered at the YMCA - 92% said when I have a complaint, I know how to report it and get help - • 84% said their room is well maintained and any issues that have been reported are fixed quickly ## **Public Benefit** Across all the services detailed above, the charitable activities undertaken by YMCA Crewe clearly advance our charitable purposes for the public benefit. They are demonstrably pursuant to Section 4 of the Charities Act 2006, and the public benefit is clearly evidenced by positive outcomes of the wide range of the Associations services. |**Housing and Support**
**Service**|**Number of Service**
**Users that moved out in**
**the last annum**|**Positive Outcomes**| |---|---|---| |Gresty Road: Generic
and Foyer Service|86|94% moved out in a positive and planned way.
36% moved into their own accommodation, either into private
or social housing on a secure tenancy.
•19 residents started volunteering
•22 residents went into employment
•3 residents went into formal education| |Housing Related
Support Service (HRS
16+), commissioned by
Cheshire East Council|32|100% moved out in a positive way| ## **Financial Review** As a Registered Social Landlord, YMCA Crewe accords with both the Accounting Direction for private registered providers of social housing issued by the Regulator of Social Housing and the National Housing Federation’s Statement of Recommended Practice. Furthermore, YMCA Crewe is a registered limited company and therefore accounts in accordance with Companies Act 2006. The Board of Trustees is satisfied that these accounts reflect the financial position of YMCA Crewe. The surplus for the year was £92,571 (2020-2021: £103,732), the surplus growth attributable to increase rental income and the addition of several new funding streams for our service provision. Thus, YMCA Crewe will continue to budget carefully and develop its activities within a framework of ensuring modest financial surplus year on year. ## **Principal Funding Sources** Incoming resources generated during the year amounted to £1,885,398 (2020-2021: £1,623,872), an increase primarily associated with the new commissioned Housing Related Support and Accommodation for 16 and 17 year olds for care leavers and children leaving care and unaccompanied asylum seeking children. Rental income received in the form of Housing Benefit for provision of rooms for people experiencing homelessness continues to be our major source of income. The principal contract funding source is the new commissioned Housing Related Support and Accommodation for 16 and 17 years olds for the Provision of Housing and support from Cheshire East Council. Moreover, Cheshire East provides an assortment of smaller grants that facilitates further support and engagement programmes and summer holiday projects for our children and family work. Crewe YMCA Limited Page 6 Grants from charitable trust and priv3te businesses amounts to £156,0(M) (2020-2021.. £142.000}. Children's Clubs and Parenting Groups are funded by combination of loul businesses grants and don￿lon5 and Children in Need grants. Children in Need funding also a]lowed us io creativ¢ly design positive engagement actsvtties tailored io 16-18-year homeless youn8 people. A grant from The Steve iMorg8n Foundation *llowed to continue to provide high quality employability skills for resident5 and local peoplc. We secured fvnding forapilotprojectwith the Foyer Feilerniion and St¥tes ofmind thatenabled yowig people to take control oftheir mental health. A grant from Bentley M& Otors secured througb the Cheshire Communit). Foundation, ￿8b[ed us to start delivering Mental Healih Firsr Aid io our lo¢al community al￿ seryice users. as well as tsatn one member of staff a5 a Mental Health First Aid In5mlCtor. We ￿cUred two grant5 through Active Cheshjre, one of which enabled us to run weekly football sessions for asylum.seekers and unaccotnpanied asylum-seeking childrcn, while the other Contributed to the Sal of our Health and Wellbeing CoJ¢h. Our Social ellterprise scheme the forni of Conferencing Facilities, Glo Café and Property Maintenance services generated turnover of £54.890 (202(￿2021= £18,494),. expan5Lon strategies of the busirtesses is being discussed which in¢lud¢ working in partnership with Ch¢5hirc Easr Council delivering varkous maintenance services and the provision of work placements to studen15 fTOtn SEN Schools in Cr¢w¢. Principal Expenditsre Sources Total expendinwe was £1,792,827 (2020-2021 £1 J20,140), incTeasing primarity du¢ to an ¢xtensive refijrbishment and replacem¢nls of assets and equipment programme. Housing and Aceommodation eosts still comprised the largest COM￿llent of our expendilure amounting to £1.025,¢XM) (2020-2021= £875,635). Housing Related Support for 16- and 17-ye&r-olds. Childre]) and Training and Engagemcnt predorninalltly accounted for the remaining eXpendI￿re. YMCA Cr¢we ¢ontinu¢d to follow the recornmendations of the Real Living Wage Foth]dation. provided 3Q/• sa]ary ris¢ for all our employ¢¢s. Future Directions There is a need to develop sustainable Iraining and engogem¢nt opporluniti¢s for young people excluded from mainstream learning a[￿ to achieve better transitions from supported housing to indcpendent livRng for youtlg people. Therefore. YMCA Crewe intends to continue to provide some servi￿$ ar¢ funded by Ch¢5h&re East Council yet simultaneously attract alternative funding streams for our servi￿5 io d¢velop a baianc£d financial portfolio. Example projects Include new youth provision that focuses on improving aspirations for young people. and WO￿ that helps asylklln-scekers and refiLgets to integrate with wider so¢iety more smoothly. Whilst our Accommodation Ser¥ices will continlle to be our core business both in ienns of ourttwnoverand outlay, the expansion ofDursocial enterprise scheme. GLO, and ollrcornrnunitie5 work illustrate the diVersificat￿n of our inc¢)me gen¢ratiou. Furtbcrniore. we are beginning conversations that h3ve thc potential to expand our housing suppon offer into new areas in the county. which will open ibe door to fither OPPDrNmiti¢s in places wher¢ we eurrently have no presence. In addiiion io expanding our GLO programmts. we are beginning to deliver new areas of work. For ¢xarnpl¢. we are n￿nIng Mental Health First Aid 5cssions for the community. which we will look deliver in n¢w are&s. Alongside this, w¢ ar¢ now able to deliver Mental Health Fit5t Aid training. which will generate additional inwn)¢ as organisations and individuals book places on our courses. There 15 an increasing need for a¢¢essible mental health provision for peopl¢ of all age4 but particularly for young people, those who idenlify as mal¢, th¢ LGTBQI- Community, and young falnilies. Many of our servic¢ uscrs fall into one or more of these groups. It is therefore vithl thal we find a way to respond to this d¢v¢loping need, and providing quality training, and free-to-access services is an obvious way io achieve this. Additionally. funders are particularly interested funding work that enables thi5 kind of support. as the evidence for the p051tive impo¢t it can have on communilies is increasingly clear. We will seek further fimding around improved mental health in th¢ ¢oming year. Investment Policy Ai present the investh)cnt policy is to maximise short terni, low risk investment oppommities. Against current bank inierest levels. rhis objective has been very difficult to ackn"eve, bui ihe Board 15 satisfied with the outcome achieved. Having cortssdeTed oiheT opiions available, the Trustees consider li to be prudent thie to the volatility of markets noi to irtvesi in 51oLkb and Shares. The Board ts deicnnined to invest in further housing assets ort a T/alue for money and affordability basis and options ￿e bcing considercd. Reserves Policy Thc Board have reviewed the Reserves Policy and have reeogttised the need to esiablish an appropriate level of working capital to sustain the fiLmre opcrations and obligations in the e>ent of unforeseen reduction in its irtcome streams. **Crewe YMCA Limited** **Page 7** The present funding climate is such that we aim to operate a policy of maintaining reserves at a level to cover three months of committed operational cost, to act as a contingency against a sudden withdrawal of a major contract due to public expenditure cuts etc, such as our Housing Related Support contract. This would enable us to fulfil our obligations to our clients and continue to operate until alternative revenue funds can be identified, or properly wind down the work. The Board have also examined the charity’s requirements for reserve in the light of the main risks to the organisation. They are committed to generating sufficient reserves to support current organisational obligations. The following factors were also considered in fixing the levels of reserves: - The cost of completing any outstanding contracts - Any Liabilities under Property or other leases, or extended credit agreements - Providing a financial cushion against risk and future uncertainties - Sufficient funds available for Trustees to be able to take advantage of changes or opportunities that may arise Free Reserves are represented by unrestricted funds (including designated Funds). Bearing in mind the consideration given above, it has been resolved that there should be a target of unallocated Free Reserve in the range of £300,000 to £500,000. To this end, the Board of Trustees have established a Reserves Policy that is reviewed annually to ensure that the appropriate levels are maintained. ## **Value for Money** YMCA Crewe has a responsibility to demonstrate that we are delivering good value for money to our residents and our stakeholders. We have developed a Value for Money policy which is compliant to HCA guidance. We aim at getting maximum benefit for the resources we have available and getting the balance right between cost and quality. Our Value for Money policy is embedded in all areas of our operations/activities. This includes maximising income from all sources and the appropriate tendering of key contracts and giving back the savings achieved to our residents in the form of creative engagement programs. ## **Key Strategic Objectives** A programme will be in place to monitor and review expenditure and enable scrutiny of initiatives and deliver a minimum of 5% savings each year. The objectives include: - **Promotion** - embedding of Value for Money principles within the culture of the organisation. - **People** – encouraging economic awareness amongst staff and Value for Money principles within all business operations. - **Procurement** – creation, maintenance and promotion of economic, efficient, and effective purchasing principles and continuous review of contracts and services - **Minimising waste** – from our business operations and review Value for Money in each department. - **Partnerships** – communicate and encourage principles with all our partners - **Improvements** – in the stock conditions through seeking improvement opportunities or investments. - **Green** – provision of energy savings, water conservation and waste minimisation advice to our employees and customers. ## **Value for Money Achievements in the past 12 months** Our Value for Money achievements is a mixture of cash savings and quality enhancements at nil additional cost. In total, they mark a significant progress in identifying opportunities for driving value and capturing the outcomes and benefits to prove their worth. - The GLO Bank Scheme gives tenants the opportunity to apply for a personal investment in their own life goals. - Residents have access to work placements and training in all social enterprise businesses - All tenants who are successful in getting employment are supported with a bursary depending on earnings. - • Rent Payment incentive for residents workers - Our Engagement offer is in addition to housing support to benefit our client without additional charges - Free laundry facilities to all tenants - Investment in 24 hours Wi-Fi in all bedrooms and Computers and laptops available to tenants - Christmas and Easter gifts to every tenants - Investment in snooker table and gaming facilities - Start-up packs for new tenants including toiletries and cutlery - Partner agencies deliver sessions that add value such as sexual health, substance misuse, job centre and community paramedics Crewe YMCA Limited Page 8 Free ortsite Gym is open to all tenants Investment5 in apprenticeship schemc We offer resÈdents l-l coun5elling sessions free of charge Tenants ar¢ encouraged to particRpate in local cotnmunity cvents Savings irt all areas of our operation thrnugh improved maintenance procurements Cojjtinued year on Year sayhngs on Uiiliiies, insurance, and service contrdcts Invcsiment5 in IT to improve staff cffcctiveness and tlexible working from home Delivery of T¢nan¢y Health Checks to proactively engage with tenant5 and identify pTh)peity or personal i55ues at an early slage to Sustain tenwKy Incentives to tenanis in the form of f(M)d parccls for Prompt paym¢nt of rent has reduced the amount of dcbt significantly A robu￿ mainl¢rwLCe SySt¢m has significantly reduced the level of void Continued Yrdr on Year investments in our properties and equipment YMCA Crewe's continued deliverance of Value for Money is fi￿her detsiled via seven stsndards recommended by the Regulator of Social Housing. Crewe YMCA Limited Page 9 Metric Summary In a(Idition to the current Valu¢ for Money metric5, thc figures for both ihe preceding and su¢¢¢¢ding financial years have been provided, alongside a breakdown of the 2021-2022 metries. Moreover. io provide a compariSO¥L against a commensurate social housing provider, the 2021-2022 Value for Money metrics for YMCA St Helens, with theii kind p¢rniission, have also been tabulated alongside. YMCA Crewe YMCA St Helens 2021-2022 2020-21 Attual 1.2% 2021-2022 Actual 3.88% 2022-23 Target 5.41% Target 3.83% Re-lnvestment 1.28% New Supply delivered - social housing New Supply delivered - non-social housing Gearing 6.49% 6.49% 6.49% 0.0% 0.0% 0.0% 0.0% o.oy 0.0% -16.8% -8.28% -8.33% -2.43% -5.6% EBITDA-MRI Interest Cover 2,522.7% 1.023.8% 2,468.8% 1.627.25% 3,076.53% Headline social housing cost per unit Operating margin Isocial housing units) Operating margin loveralll £9.065 £12.314 £11,488 £15.882 £10.189 19.9% 15.27% 13.68% 9.07% 16.24% 10.2% 0.95% 5.4% 3.12% 15.63% Return of capital employed IROCE) 2.7% 1.73% 3.51% Metric I: Reinvestjnent /• Designed to measure Cost Chain EtTicicncy, this metrie compares the InVe￿￿ent within existing and n¢w prop¢rti¢s as a percentage of the total propety value. Develo ment of New Pro Novl Built Pro Works LO Existin erties Ac uired otsl Housin Pro rties £ 209.752 italised Interest Total Housin Scheme5 Com leted Toial Housin Pro rties Diwided by Tan -ble Fixed As5ets'. Housin Pro erties at Cost Current) erties al Valuation Currenl £5410232 Tan ible Fixed Assets.. Housin Pro Reinvestment Vo Crewe YMCA Limited Page 10 Metric 2: New Supply Delivered •/• This metric, which measuTe5 C05t Chain Effectivenc55. records the number of new h￿Ising units acquired or deireloped within the prior twelve monrhs as aperccnta8e ofthe total number of housing ￿115 owned at year end. This metric is reported as two ratios, recording Social Housing Unit5 aTJd Non-social Housing Unils respeciivcly. A: Social Housing • B: Non-soelal Hou$lng Y Toial No. UDits DcY¢loped or Ac uircd in Year Totsl No. Unit5 Developed OT uired ITh Year Divided by 189 Greshi Road 67 186 Holland Streel 102 hlinshull New Road 14 Broad Street 20 Broad Stitet JIO Lord Sireel Tolal Units Owned at Pcriod End Total Units Owned ai Peri￿ End New Supply Delivered •A 6.49 /. ew Supply Delivered Metrlc J: Gearlng •/0 FunctiOTJing as a measur¢ment of Cosi Chain EtTi¢iencys this mclric considcrs th¢ proFM)nion of adjusted assets eomprisin8 debi.. thus, deiem)ining the degree of dependence on debi fmance. Shon Term Loans -Terni Loans 66.890 £ 517,296 Cash and Cash uivalents Att)ounts Owed to Grou u￿￿rtakin Finance Lease Obli 2tiot]s 17.604 Divided by Tan ibl¢ Fix¢d Assets: Housi Ible Fixed Assets-. Housin Pro rties at Co Current rties at Valuation CuTreni £ 5.410,232 Tan Pro Gearing ' -8.33% Crewe YMCA Limited Page 11 Metrlc 4: Earnlngs Before Interest. Tax. Depreciat10￿ Arnort1s*tlo￿ Major Repalrs Included (EBITDA MRI) Interest Coi'er /• An additional measurement of Cost Chain EtTi¢iency, Ihe EBITDA MRI is a key comparator of generated sU￿lUS against payabl¢ Intere￿ whilst avoiding any distonion resultant from depreciaiion charge5. eratin Overall 101,725 Gain on Fixed Asset Di5 Housin rties Amortised Govemmeni Grant 139,664 Government Granis Taken to Income Interest Rcccivable italised Ma or Re airs Ex nditure for Per￿)d r¢ciation Char e for Period Total D 225.995 Dividedby Interest Ca itatssed Interest P able a[￿ FinancRn Costs 9,154 EBITDA MRI IDleres1 Cover •A 2.468.81% Metric 5: Headline Soci4l Housing Cost Per Unit Thi5 metri¢ mea5urcs Cost Chain Economy by assessing the cosl of he￿Illne social housing per unit owned andlor managed by YMCA Crewe. atirt Ex enditLLre from Social Houstn reciaiion Chai e- Housin Bad Debts Lettin £ 1,120,192 164.774 13.425 De Pro erties DividÉdhy 189 Greslv Road 180 Ilollllrtd tsiieel IlJ2 Minshitll New Rtpod 14 BYtMd Sireel 20 Bmod SiiEef 116 Lord Sireei 140 A Rolls AveK#e 14? Rolts A venue 67 140 Rolls Aieniie Toial Social Housin Unirs Owrtedlmana ed at Period End 82 He8dline Social Housing Cost Per Lnit 11,488 Crewe YMCA Limited Page 12 Metric 6: Operat5ng Margin /• A demonstrable mechanism of Cost Chain Efficiency. this mctric deterniines the profitability of operatin8 assets as a percentage of annual mrnover for ￿th the overall opcrdting assets and any a&sets associated wÈth social hollsing lettings. A: Social HouslDg LettiDgs Only B: Overall eratin lus 177 527 ratin lus 101725 Gain on Disposal of Fixed Assets Hou5hn Pro rtie5 Divided Divided b Turnover £ 1297.719 Tun)over £ 1885398 Oper%ting Margin /• 13.68/ Operating Marglll /0 5.40 /. Metric 7: Return Oll Capital Employed (ROCE) Y• A compardtor of operating surplus against total 855ets. less cutrent liabilities. is i eommon ¢omm¢reial measure of Cost Chain Effici¢Th¢y. eratin Share of O lus atin 101.725 S lus in Joini Venrures of A&80¢iaEes Divided by Toial Asseis Less Curreni Liabiliiies £ 5.875 360 ROCE •/ **Crewe YMCA Limited** **Page 13** ## **Statement of Compliance with Regulatory Standards** Principal risks and material uncertainties affecting YMCA Crewe are its Pension Obligations and the uncertain nature of its funding streams. The Board considers annually and on a rolling basis a three-year strategic plan which YMCA Crewe progressively implements. The Board receives bimonthly reports from the Chief Executive Officer and the senior leadership team which sets out the risks, risk management plans and tolerances for the business. The strategic plan includes a robust assessment of the principal risks facing YMCA Crewe, including those that would threaten its business and financial model, future performance, solvency, or liquidity. The Directors believe that YMCA Crewe is well placed to manage its business risks successfully, having considered the current economic outlook. Accordingly, the Board believes that, considering YMCA Crewe’s current position, and subject to the principal risks faced by the business, YMCA Crewe will be able to continue in operation and to meet its liabilities as they fall due for the period up to 31st March 2023. Directors have a reasonable expectation that YMCA Crewe has adequate resources to continue its operational existence for the foreseeable future and for a period of at least twelve months from the date of this report. The Board confirms that the Association has maintained compliance with the Regulator of Social Housing Governance and Viability Standard. ## **Self-Assessment of the Code of Governance of the National Housing Federation** YMCA Crewe maintains compliance with the code of governance of the National Housing Federation, thereby ensuring the effectiveness and excellence of the board of trustees. Examples of this include: - All policies and procedures regarding governance are readily available to all staff and board members. - The board of directors at YMCA Crewe comprises nine members; eight non-executive trustees, including a chair who is responsible for the leadership of the board, and the Chief Executive Officer. In the last year, six trustees have been recruited including a new chair. Each trustee has undertaken a skills audit, safeguarding and Prevent training. Trustees have also had the opportunity to attend the annual Board/Trustee development training day. - The Head of Corporate and Community Services advises the board on compliance with our mission, vision and values and any and all statutory requirements. - The Big Welcome Pack and Trustee handbook provides the history of the YMCA Crewe including strategy, cultural ethos and mission, vision and values of the organisation. - All board meetings and committee meetings are fully minuted and based on full agendas with advance documentation provided to all trustees. All committees, including the board have formal terms of reference to ensure transparent and effectiveness. - The organisation’s CEO has a clear understanding of their legal responsibilities, authority and relationship with the board, outlined in their signed contract of employment. The performance and remuneration of the Chief Executive Officer is appraised annually by a panel composed of non-executive trustees. - The board maintains high standards of probity and conduct especially pertaining to conflicts of interest and acceptance of hospitality. As per organisational policy, all senior staff and trustees must declare any interests, interested board members may not discuss nor vote on decisions regarding their interest. ## **Future Activities** Building on the success of previous strategies, the Board, SLT and Team Leaders, have taken the opportunity to look to the future and be bold in our thinking to inform our strategic priorities for the next five years 2022-2027. FIVE strategic goals were identified, the ‘what’, for YMCA Crewe over the next 5 years: 1. Expand our Reach 2. Expand our Housing Services 3. Build Community 4. Grow our People 5. Diversify Income. ## **Our Strategic Goals** Each of the strategic goals that makes up our vision clearly contributes to what YMCA Crewe can achieve. Expand our Reach In both geography and services we offer. From expanding geographically, to adding a range of mental health services to support our people, our volunteers, and our residents. Expand our Housing Services. Whilst maintaining our high-quality accommodation we will increase our housing stock, through partnerships, relationships with private landlords and creative solutions. We will expand the range of Housing and Crewe YMCA Limited Page 14 Wtlfare SerYLces we offer io residents. lalldlords and authoritie& becoming a respected scrviee provider. We will ¢valuaie a longer-tern) expansion inio high need housing and rent to buy. Build Community. At the hart of the YMCA is a communiry, whethtt it is those who usc our spaces and services. our residents, our people. or our volunteers. We belieye that connection io community is importani, espccially for familjes and those with children. Grow ourPeoplc. Investing in growing our people. our staff, our voluntccrs, and our residents, enables better lives and better fvfvT¢S. It ¢mpow¢rs the transition to indepetsl¢nc¢ whi¢h is at the core of what w¢ do. Diversify our Income. Broad based ineom¢ stream$ r¢duce th¢ risk and enable a greater level of investm¢nt in the servi¢es w¢ offer. Our s￿la1 ¢n¢erpri5¢5 and partnerships expwml our r¢a¢h and ¢reaie the finoncial security and stability lo conrinue our work. Future A¢tivities Expand into rent to buy YMCA Crewc trainer to provide Mentsl Healih FITh Aid courses to oiher organisations Improve green spaces and outside areas ai Gresry Road for resident wellbetng Increase local housing stock through new partnerships and creative 501ulions Jnerease the number of work placements for Gresty Road residents through our social ente￿nseS Stsrt furth¢r work wilh ￿h0o]s, building on relationships begun through education packs project Appoini a 5pe¢ialist worker to ensure voice ofservice Use￿ is heard. Valu￿ and acted tspon. Structllre, Govern%nee and Management Governing document The organisation 15 a ¢haritsb]e company limited by guaranlK Registered Charity No 1030782. Company No 2875065. The company was established under a MemorandumofAssociationwhi¢h e5fablkshedtheobjects andpowers of the company and is 8overned under its Articlcs of A550cialion. Structure YMCA Crewe has a Board of Directors. They meet every two months and art responsible for setting strategic direction and policy in accordance wilh its aims and objectives and monitorittg progress towards their achicvemenr. There are ttvo subgroups th* oversee work in critical areas, the Finance and Audtt Committee chaired by the Treasurer and the Safeguarding Partel chaired by the Board Safeguarding Link Director. Th¢ Board of Directors nominates individuals as Link Directors for ils fdnge of operations, including f1th￿Ce, HR, safeguardin& training and engagemenl, ¢ommunitie5 and families and service users. Link Directors meet regularly with the appropri31¢ tn¢mb¢TS of th¢ m3nagern¢nt team and with users of its services to discuss current issues and concerns. Day to day responsibility for the provision of the serviees rests with th¢ Chief Ex¢wtiv¢ OffKer along with the senior leadership team. The Chief Executive Officer is responsible for ensuring that th¢ eharity d¢livers it5 aims and objectives. The Head of Corporate and Community Servitts manages the fijnthxising, communications. volunt¢¢r and communities ieams and has responsibility forHR. She also acls &sCompany Secretary and $upports th¢ Boardof TTUSt¢es with govemance. The Head of Housing and SUp￿rt Sthwices is responsible for the deliv¢ry of high-quality housing. support, and engagement services. Th¢y are part of the Senior Lead¢r5hip Team working towards achieving the vision and strategy agreed by the BvaTd of Director5 and they provide excellent leadership and 5UPPOrt to Team Leadeis and Service delivery staff. The H¢ad ofFinaftce and b￿lnesS servi¢e5 is responsible for the maintenance of effects.ve financial control and compliance across th¢ organi5ation, providing accurale timely management infomialion io support sttate8ic decisiofl rnaking. Cotnposition of the Bogrd of Directors Ai the ¢nd of the finaTJcial year, the Board ofDire¢iors had 9 members. The Chief Executive Officer also sits on the Board but has Tho voting right5. Board meelings are usually allended by senior manager5. Crewe YMCA Limited Page 15 The th"rectors of the company are also charity tn￿leeS for the purws¢s of chaiity law. Under the requirements of the Memorandum and Articles of Associalio￿ a director is clccted to serve for a period of thr¢e years after which they musi b¢ re-electcd at the next Annual General Meeting. The directors are from awariery ofprofessional backgrounds relevant to the Work of th¢ organisation. The traditional business and voluntary secior skills are well r¢pr¢sCllt¢d on the Board of DirectOTS. In an ¢ffort to maintain this broad skill mix, membtrs of thc Board of Directots are requested to pmvide a list of their skills 3Ni in th¢ event of ski115 being 1051 due to reiircmcnts or a skills gap being identified. indi*iduals are approached to offer themsclves for election to the Board of Directors. The skills base of ihe Board and the relevatKe for the needs of the o￿Tri￿tion is und¢r con5tanl review. All the dir¢¢lors give their lime voluntarily a￿1 rcceived no benefits from th¢ charity- Any expenKs ieclaitned from the Charity JT¢ s¢¢ oul in Noie 7 to the accounts. Risk MAnAgtment YMCA Crewe has reviewed ils risk Teporting to trustees wiihin the year seeking the a55lStance of new trustees with 5pccific working exp¢rtise of operdiLonal risk systems to update our ongoing assessment of risks facing the organisation and the delivery of its services. The Association operates several quality assurance franThorks around the delivery of its a¢corntnodation. training and children and young EKople's services. These are underpinned by a risk management pro¢ess whi¢h en5ure5 policies and pnxedures are reviewed on a timely basi5 in accordance with changes in prdctice and legisla¢ive frameworks. Non-operntionJl risk, specifically incorporating financial risk 1$ a150 under-pinned by a system which ensures timely and r¢gular review of crilical are&s. Oiher P3rties As a Tecipient of public funds YMCA Crewe reco8nises the importance in its govemance and management of working in partnership with local and national Govenment departments to deliver its aill￿ and objectives. Ai a lo¢al level, our services are infomied by local strdt¢gh¢s for homelessness develop¢d a￿{ commissioned by Cheshire East Council. Statement of Bogrd Members. Responsibilities The members of ihe Board are required by legislation eortcerning Regisiered Provider5 to pre￿re accounts for each financial year, whi¢h gsye a trne and fair view of the state ofaffairs of the A￿o¢lation as at th¢ end of the financial year and of the surplus and expenses of the Association for that period. In preparing the Jecounts appropriate accountit)g w)licies have been used aThJ applied consistently, reysonable, and prudent judgements and estimate5 hav¢ bten rnadc and the accounts have been prepared on a going con¢¢rn bask5. The m¢mber5 of the Board are responsible for maintaining adeqU￿e accouniing Tecords for saf¢guardiThg the a55ets of the A550¢iation and for taking reasonablc steps for preventing and de￿lIng frawl and other irregularitie5. The Board Members knlding office at the date of this report confm thai. so far &5 they are each aware, theR is no relevant audit infortnation of which the company's auditors are unawatt. and each member has taken all the steps that they ought to have taken &s a member io makc thcmselv<% aware of any relevani audii inforn￿tIOn and to establish that thE eompany's auditor5 are aware of thai inforniation. On behalf of the Enelnbers of the Board Chief Executive Officer Dated: I I. IQ OoloU£¥ JOI Crewe YMCA Limited Page 16 Stalem¢nl of Corporate Governanee and Internal Controls for the Year Ended 31 March 2022 Corporate Governanee During thc period the Board complied in all maierial respert5 With the elements of the Code of Governance issucd by the National Housing Federation thai are relevant and can be pracii¢ally implemented given thc size and natur¢ of this organL5ation. Internal Controls Thcre is no regulatory requirement for th¢ Board io publish a statement on internal eontrols assuranee, but it has dccided io do 50. Thc Board acknowledges ils responsibility for the esiablishm¢ni and mainrcnance of thc system of internal controls and for rcvi¢wing its efftcliveness mindful ofthc objcclives of. and risk5 facing thc ASS[￿Lation. Thc Board ha5 conducied ils annual review ofthe effeciiven¢5softh¢ sy51em of internal control, which is desisned to provide reasonable. not absoluie. assurance. Thc Board confimis thai there are ongoing processes for maintaining sound 5yStcms of intcrnal control and for managing Significant risks. These processes have bccn in pla¢¢ throughout the year undcr rcview and thcy are regularly revicwcd by the Board. The Statement of Corporate Govemance and Internal Contro15 was appn)ved by th¢ Boardon...................................... and signed on its behalf by.. oanne Turley- Chair Date.. **Crewe YMCA Limited** **Page 17** ## **Independent Auditor’s Report to the Members of Crewe YMCA Limited** ## **Opinion** We have audited the financial statements of Crewe YMCA Limited (the ‘Association’) for the year ended 31 March 2022 which comprise the Statement of Comprehensive Income and retained earnings, the Statement of Financial Position, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies in note 1. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the Company’s affairs as at 31 March 2022 and of its income and expenditure for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2019. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Board’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Board with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Board is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors’ report has been prepared in accordance with applicable legal requirements. Crewe YMCA Limited Page 18 Independtnt Auditor's Report to the imembers of CreThe YMI CA Limited (continued) Matter5 on which we are required to report by exception In the light of the knowledge and undersianding of the Company and its envbfoDment obtained in the course of the audit, we have noi idcntified mat¢rial misstatements in the directors. rcport. We have nothing to report in rcspeci of the following matters in relation ￿ which the Companies Act 2006 requires us to report to you if, in our opinion.. adcquate accounting records hav¢ not been kepL or returns adequate for our audit have not been received from branches noi visited by us- or Ihc financial slai¢mcnts are not in agrcement with thc accounting records and rettLms,' or certain disclosures of directors, rcmuncrdtion specified by law are noi madc: or we have not received all the knfomiation and explanations we rcquirc for our audit. or thc dircciors wcrc not entitled to prcparc ihe finan¢ial statements in accordance wilh thc small companies, regime and take advantage of the small companics. exempiions in preparing ihc directors. report and frotn the requirement to prepare a stratcgic rep)fl. In addition, we haye nothing to report in respeci of ihe folloiying matter where the Housing and RegeneraiioD Act 2008 rcquircs us to report to you if. in ow opinion.. a satisfactory syst¢m of coniToI over transactions ha5 Ilot been mainthined. Responsibilities of directors As explained more fully in the Siaiement of Diiectors. Respon5ibililies s¢1 Ollt on page 14, Ihc Board is responsible for the Preparation of the financial statements and for being s31isfied that they give a true and fair view, and for such iniemal control as lh¢ Board detemiines is necessary to cnable the preparation of financial statements that are free from mat¢rial misstatcrncnt, wheiher du¢ to fraud or crror. In preparing the financial staiemenls, the Board is responsible for assessing the Company's ability to continue as a going ¢onccrn, disclosing, as applicable, matter5 related to going concern and using the going concern basis of accouniing unlcs5 the Board either intend5 to liquidatc the Company or to cease operaiions or has ]KTr realislic alternative bui to do so. Auditor's responsibllitles for the audit of the finathcial statement$ Our objectives are to obtain reasonable assurance about ii'heiher ihe financial staiemcnts a5 a whole are free from material missiatemeni, whether due to fraud or error, and to issue an audiior's report that includ¢s our opinion. Reasonablc assurance s a high level of assurance, but hs not a guarantee that an audit conducted in accordancc with ISAS (UK) will always detett a material missiatement when it exisis. Misstatements C3n arisc from fraud or ¢rror and are consid¢r¢d matcrial if. individually or in the aggrego1¢, they could reasonably be expected to infiuence the ewnomic decisions of users takcn on the basis of ihese flnancial siaiem¢ntS. A further description of our re5ponsibiliiies for ihc audit of the financial statements is located on the Financial Rcporting Council's web-siic at Mw￿,.fr¢.0r .uk aiidilorsfLS on5ibilitics. This description forn)s part of our auditor's report. Extent to ￿'hICh the Audit w*s considered eapable of deteetlng irregulsritie4 Ineluding frgud Wc identify and assc5S the risks of matttial mi5s1aiemcni of the financi31 siai¢ments. wheiher du¢ to fraud or error. and thcn design and perform audhi procedurcs responsive to those risks. including obtaining audii evidence ihai is su￿1¢tent and appropriate io proi'ide a basis for our opinion. In idctjtifying and addrcssing risks of material missiaiemcnt in respeci of irregularTrtie& including fraud and non-compliance with laws and regulations, our procedures included the followin8= We obtained an understanding of law5. regulations and guidance that affcct the Company, focu5in8 on those that had a direct effcct on the financial statements or ihai had a fundamental cffect on ils operations. Key laws. rcgulations and guidance thai we identified included th¢ Cornpanies Acr 2006. the Statement of Rccommcnded Praciicc for registcrcd housing proi'iders.. Housing SORP 2018, the Housing and Regerteration Act 2008, the A¢¢ounling Direciion for Prii'aie Regis¢ered Providers of Social Housing 2019. tax legislatlon. health and safety l¢gislaiion. and employment legisl31ion. We enquired of the Board and reviewedcorrespondence and Board meding minule5 forevidence of non.¢ompliance with rclei'ani law5 and regulaiion5. We also reyiewed controls thc Board have in place, where necessary, to ensure ¢ompliance. **Crewe YMCA Limited** **Page 19** ## **Independent Auditor’s Report to the Members of Crewe YMCA Limited (continued)** - We gained an understanding of the controls that the Board have in place to prevent and detect fraud. We enquired of the Board about any incidences of fraud that had taken place during the accounting period. - The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: laws related to the construction and provision of social housing recognising the regulated nature of the Company’s activities. - We reviewed financial statements disclosures and supporting documentation to assess compliance with relevant laws and regulations discussed above. - We enquired of the Board about actual and potential litigation and claims. - We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud. - In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. ## **Use of our report** This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed. ## **Richard Graham ACA (Senior Statutory Auditor)** For and on behalf of ## **Beever and Struthers** Statutory Auditor One Express 1 George Leigh Street Manchester M4 5DL Date: 29 November 2022 Creive YMCA Limited Page 20 Statement of Comprehen5ii'e Income and Retained Earning5 For the Year Ended 31 imarch 2022 Notes 2022 2021 Turnover .885.398 1,623,872 Operating expcnditure 765 475 1511705 Operating surplus 119.923 112,167 Interest payJblc and financing cosis Total surplus for the year and total comprehensii'e ineome Reiained eamins5 at the start of the year 973 628 869 896 Retained earnings At the end of the year 97 The notes on pages 23 to 32 forni an integral part of these financial siaiements. Thefi n¢ial staleme i.ly 10.1 ts on pages 20 to 32 werc approved and auihorised for issue by th¢ Board of Managemeni d were signed on its behalf by= Ms J Turl£y- Ch4ir Mr P Pi¢eher- Treasurer Mr M Hilts- Chief Eyecuiiv OJTicer Crewe YMCA Limited Page 21 Statement of Financial Position As at 3 1 l¥qarch 2022 Notes 2022 2021 Fixed assets Tangible fixed assets 5,593,896 5,500,879 Current assets Debiors Cash ai bank and in hand io 76,878 518057 594,93S 72,490 794,799 Creditors: Arnounts falling duo Wlthin one year 295 73 361855 Net current assets 5.893,558 5.933,823 Creditors: Amounts falling due after one year 12 4 809 161 4960 195 Net a55ets Capital and reseri'es Income and expenditure r¢serYe 15 The notcs on pages 23 10 32 forni an integral part of these financial statemenT5. an ial siaiemcnts on pages 20 to 32 were approved and authorised for issue by the Board of Managemcnt and wer¢ signcd on it5 behalf by.. Ms J TMrley- Chair Mr P Piicher- T￿lls￿rer Mr MHills- ChiefE¥ecMfive ojficer Company Registration Number: 02875065 Crewe YMCA Llmlted Page 22 Statement of Cash Flows For the Year Ended 31 imatth 2022 2022 2021 Ntt cish gellerated from operatlng ¥ctivities (see note beloD') 123,937 184,756 Cash flow from investing activities Purchase of12ngible fixed as5ers 319013 (319.1113) 141798 (141.798) Clsh flow from financing activiths Interesl paid R¢paynent of borrowings (2.918) (3,125) (9,176) (9,447) Net chan2e In casb and cash equlvalents (21M252) 33,511 Cash gnd easb equivaleDt$ at beglnniTrg •[ th¢ year Cath 8thd eash equivakDt5 at end of th¢ y¢aT 688 798 C*sh flow Irom operating *rtlvities 2022 2021 Surplus for the yeaT Adjustment5 ftsr nom-cash items: Depreciation of housing properties Depreciation of other fixed ass¢ts Amorti$ation of Govemn)ent grdnts Decrew in trade and other debiors Increas¢ in tiade and other creditors Adjustment for Investi￿ or flnancing acti￿lIes. Interest payable 110,769 103.732 164.774 61,222 (139,664) 4,388 (86,706) 161,969 45,208 (139,664) 23,813 {18,787) 435 The notes on pages 22 to 31 forni an integral part of ihese fmgncial stakments. Crewe YMCA Limited Page 23 P*ote$ to the F5naneial Statements For the Year Ended 31 March 2022 Legal StAtus Crewc YMCA Limited is a company limiied by gu3rdntee incory)oraied in Ettglartd and a register￿ charity. The address of it5 re8151¢red orficc is 189 Gr￿ry RO￿ Crcwe. Cheshi￿. CW2 6EL. Principal AccO￿nting Policies Basis of ¥ceov Ating The financial siaternents have been preparcd in accordance with applicable United Kingdom Accounting Generally A¢c¢pted Accounting Practice (UK GAAP) aExl the Ststemeni of Recommended Practice for registered housing provider5'. Housing SORP 2018. The financi21 statements comply with the Housing and Regenerotion Act 2008 and the Acco￿ting Direction for Pnvate Regist¢red ProvideT¥ of so¢￿1 Housing 2019. The accounts are prepar￿1 on the historical cost basis of accounting and are presented in sterling £. These financial slaten)ents have been prepared in compltance with FRS 102. The Financial Rewjrting Standard applicable in the UK the Republic of IrelatKI. The AssociaiioD m¢¢ts the definition of * public ben¢fll entsty (PBE). Going Concern The Trustees consider there aTe no material uncertainties a￿ut the Charity's ability to Continue as a going concern. The trllsttts have Te350nable expectation that the elwiry has adequal¢ resources io continue in operational existence for the foreseeabl¢ future. The review of finaneial posiiion, reserves levels and futurc plan5 gives Trustees confidence the charity remains a going concern for tlLe foreseeable future. Thu5. the trustees conTinu¢ to adopt the 8oing concern basis of accounting in preparing the fllwicial statements. Jlldeements Key Sour**Number**
**2021**
**Number**
The average number of persons employed during the year
including the Chief Executive Officer expressed in full time
equivalents was (based on a 40 hour week):
**34**
28
**2022**
**2021**
**£**
**£**
**Staff costs for the above**
Wages and salaries
**856,027**
697,802
Social security costs
**65,348**
54,900
Other pension costs
**19,498**
14,537
**940,873**
767,239
No full time equivalent staff were paid remuneration of over £60,000.
**6.**
**Directors’ emoluments and key management personnel**
**2022**
**2021**
**Total key management personnel remuneration**
**£**
**£**
Emoluments
**57,120**
57,346
Employer’s pension contributions
**1,714**
1,504
Employers national insurance contributions
**6,524**
5,707
**65,358**
64,557
The emoluments paid to the highest paid Director (Chief
Executive)
(excluding pension contributions)
**57,120**
57,346|**2022**
**Number**
**2021**
**Number**
The average number of persons employed during the year
including the Chief Executive Officer expressed in full time
equivalents was (based on a 40 hour week):
**34**
28
**2022**
**2021**
**£**
**£**
**Staff costs for the above**
Wages and salaries
**856,027**
697,802
Social security costs
**65,348**
54,900
Other pension costs
**19,498**
14,537
**940,873**
767,239
No full time equivalent staff were paid remuneration of over £60,000.
**6.**
**Directors’ emoluments and key management personnel**
**2022**
**2021**
**Total key management personnel remuneration**
**£**
**£**
Emoluments
**57,120**
57,346
Employer’s pension contributions
**1,714**
1,504
Employers national insurance contributions
**6,524**
5,707
**65,358**
64,557
The emoluments paid to the highest paid Director (Chief
Executive)
(excluding pension contributions)
**57,120**
57,346|**2022**
**Number**
**2021**
**Number**
The average number of persons employed during the year
including the Chief Executive Officer expressed in full time
equivalents was (based on a 40 hour week):
**34**
28
**2022**
**2021**
**£**
**£**
**Staff costs for the above**
Wages and salaries
**856,027**
697,802
Social security costs
**65,348**
54,900
Other pension costs
**19,498**
14,537
**940,873**
767,239
No full time equivalent staff were paid remuneration of over £60,000.
**6.**
**Directors’ emoluments and key management personnel**
**2022**
**2021**
**Total key management personnel remuneration**
**£**
**£**
Emoluments
**57,120**
57,346
Employer’s pension contributions
**1,714**
1,504
Employers national insurance contributions
**6,524**
5,707
**65,358**
64,557
The emoluments paid to the highest paid Director (Chief
Executive)
(excluding pension contributions)
**57,120**
57,346| |---|---|---| ||767,239|| |||
**2021**
**£**
57,346
1,504
5,707
64,557
57,346| Key management personnel are defined as members of the Board of Trustees and the Chief Executive. The Chief Executive is an ordinary member of the pension scheme. No enhanced or special terms apply. There are no additional pension arrangements. A contribution of £1,504 (2021: £1,403) was made by the Association in addition to the personal contributions of the Chief Executive. No emoluments were paid during the year to any member of the Board of Trustees (2021: £Nil). The Board of Trustees did not receive any expenses to reimburse for travelling costs incurred on behalf of the Association (2021: £Nil). ## **7. Surplus on ordinary activities** Surplus on ordinary activities is stated after charging/(crediting): |Auditors remuneration (excluding VAT)
Operating lease charges
Depreciation of housing properties
Depreciation of other fixed assets
Amortisation of government grants|**2022**
**£**
**8,248**
**5,955**
**164,774**
**61,222**
**(139,664)**|**2021**
**£**
8,600
14,475
161,969
45,208
(139,664)| |---|---|---| ## **8. Taxation** The Association is a registered charity and is exempt from taxation on its charitable activities. Crewe YMCA Limited Page 29 Note5 to the Financlal Statements For the Year Ended 31 March 2022 Tanglble fixed assets Hostel C•mputer Fixtures Equipment and FSttlngs Housing Properties Motfrr Vehicles Gy Equipment Totsl fixed asset$ C05t At l ApTiI 2021 AddLtiOn5 Ai 31 fvIawh 2022 7,143,858 209 752 248.479 468,590 38.432 43,824 7,943,183 319013 Depreciation At l April 2021 Charge for year At 31 Mawh 2022 1.778.604 202,101 401,343 27,792 32,463 2,442,304 225 996 Net book value At 31 Mar¢h 2022 At 31 March 2021 2022 2021 Housing properties comprises: Freehold land and buildings 10. DdJtor5 2D22 2021 Rent arreaT5 Provision for bad debts Net rent artears Prepayments and accrued income 1114,440 97,482 72,817 60,102 ii. Creditors: Atnounts falling due within one year: 2022 2021 BaEth loan Trade creditors Rents in advance Social security and other taxes Accrnals and deferred income Pension agre¢m¢nt plan (note 13) Defetred capital grant (notc 14) 6,117 5,706 14,324 19,080 78J82 31.994 6,814 9,056 1,746 18,553 157,270 28.752 Crewe YMCA Lilnited Page 30 Notes to the Financial Statements For the Year Ended 31 Mareh 2022 12. Creditors: Amounts falling due after more than one year. 2022 2021 Bank loan Pension agT¢emertt pl&n (note 13) Deferr¢d capital grant {note 14) 60.774 173.320 4 575 067 66.334 179.130 4 714731 The b8nk loan of £66.891 (202 I- £77,148) included in Creditors due in less than one year and due in more than one year is S¢¢UTed by a first ¢har8e on propertie5 owned by ihe YMCA and Is rcpayable in monthty instslmenis of £781 over the next el¢ven yeaT& Encluded wiÈhan bank loans Is £33,082 (2021- £38.372) which is due for repayment after more than fiv¢ y¢ars from the State￿¢￿1 of Financial Position date. 13. Penslon obligations Crcwe YMCA Limlted participated in a contributory pcnsion plan providing dcfincd bEnefits based on final peDsionable pay for employtts of YMCAS in Fmgland. Scotland and Wales. The assets of rhe YMCA Pension Plan are held 5epaTatcly from those of CTewe YMCA Limited and at the year end these were invested in the Mercer Dynamic De-risking Solution, 630/0 matchinB Portfolio and 37PA in the growthportfolio and Schroder (propcrty unils only). The most recent complekd thTe¢ year valuation was &$ at l M#y 2020. The assurnptioas used whi¢h have the most 5ignifi¢ant effcci on the results of th¢ valuation are those relating to th¢ assumed rntes of r¢tkm on assets h¢ld before and after retirement of 2.59 /• and 1.09/0 resp￿rIVelY. the incr¢ase in p¢nshons in payment of 2.99°/. (for RPI eapped at S/￿ p.a.l. and the averng¢ lif¢ ¢xpect8n¢y from norn?&l retir¢rnent ag¢ (of 65) for a curreni male pensioner of 22.0 year5, fetnale 24.4 years, and 23.7 yean for a mal¢ p¢nsioner, f¢male 26.1 year4 r¢tiring in 20 y¢ars' tim¢. The result of the valuation showed tha¢ the a¢tuarial valu¢ of th¢ a55ets w&$ £146. Im. This represent¢d 7Y/(* of the benefRts that had accrued to ￿￿mberS. The pension plan wys ¢losed to new members a￿1 fu￿re service accrual with effKt from 30 April 2007. With the removal of the 54iary linkage for benefi￿ all employed deferred m¢￿berS became dEfe￿¢d memba5 a5 from l May 2011. The valuation prepared &s at l May 2020 showed thai the YMCA Pension Plan had a dEfLciI of £39 inillion. Crewe YMCA Lirnited ha5 been advised that it will need to make monthly contributions of £3,972 from l May 2022. This amount is based on the current acNarial assumptions {as outlined abov¢) 3nd may vary in the fll￿re as a ￿SuIt of aclual perforrnance of ihe Pension Plan. A￿e¢d future deficit contributions have been discounted using a rate of 3•/¥J. (2021..30/o.l The CUTrent recoyery period is 7 year5 commencing l May 2022. Y¥bl¢ Twts to rive years 87 After fNe ye4rs 54J93 72.285 After more thgn one year 173,319 179.131 Withi one year One to two year5 Total 2022 20S 314 Total 2021 As at 31 March 2022 As at 31 March 2021 28,752 27.914 78.958 207 883 In addition, Crewe YMCA Limited may have over time liabilities in the event of the non-payment by oiher participating YMCAS of their share of ihe YMCA Pension Plan's deficit. It is not possible currently to qLfdntify the Potenti￿ amount that Crewe YMCA Limited may be called upon lo pay in the future. Crewe YMCA Limited Page 31 Notes to the Financial Statements For the Year Ended 3] .Mareh 2022 14. Deferred capltal grant 2022 2021 As at l April Rel¢as¢d io income in the year As at 31 March 4,854,395 139 664 4.994,059 139664 54 2022 2021 Due wiihin ont year Due wiihin two lo five years Due in over five yeats 139,664 558.656 4016411 4 714 731 139,664 558,656 4 156075 IS. Re5erve5 Inconle and expenditure account- This reseNe records Tetained earnings and awllnulated Ios5e5. 16. Capital commitmen¢$ Capital commitments ￿ 31 Mar¢h 2022 weff £Nil12021.. £Nil). 17. Financial commithients The Asso¢i81ion holds office equipment under non-Ca[￿clIab1e opernting lease5. At the end of the yw the A&sociation Iwd Con￿nIt￿ents of total futu￿ minimum lease payments &$ follows:_ 2022 2021 Expiring.. Noi laier than one yfdr Later than one year and not later than five years 900 5,955 18. UnltslBedspaces 2022 Number 2021 Number Under mY4nagement at end of ihe ye•r Supported IK>Stel accommodation 19. Grant gnd finaneial assistance The iotal a¢¢umulai¢d gov¢rnmeni grant and financial assistance received at 31 March: 2022 2021 Held as defe￿ed grant- housing Recognised as income in Statement ofcomprehensive Income- housing Recognised a5 income In Stht¢ment of Cornpr¢hensive Ineome- other 4.714.731 1.379.828 4,854,395 1,240,164 Creive YMCA Limited Page 32 Notes to the Flnanelal Statements For the Year Ended 31 Vlarch 2022 2(J. An•lysfis of ehange5 in nel debt Other non-¢35h chjnges At31 Mar£h 2022 April 2121 C35h flo)Ys Cash at bank Loans Due in One Yvar Loans Due After One Year 722,309 16,814) (66,334) (204,252) 697 5,560 518.057 (6,117) (60,774) 649.161 (197,995) 451,166