OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← YMCA Wolverhampton

2025-03-31-accounts

Registered number: 03012233 Charity number: 1043739

YMCA WOLVERHAMPTON

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Rit Partners Protecting your future.

ae

YMCA WOLVERHAMPTON (A company limited by guarantee)

CONTENTS

==> picture [427 x 191] intentionally omitted <==

----- Start of picture text -----
Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees’ report 2-11
Independent auditors' report on the financial statements 12-15
Statement of financial activities 16
Balance sheet 17-18
Statement of cash flows 19
Notes to the financial statements 20 - 34
----- End of picture text -----

YMCA WOLVERHAMPTON

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

==> picture [451 x 540] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Trustees|P|Walker,|Chair| |J|Oakley,|Vice|Chair| |A|Walsh| |O|Balogun| |M|Fussell| |S|Patrick| |J|Rowe| |J|Sargeant| |M|Shenton| |G|Stonyer| |P|Tomlinson| |C|Tigere|(appointed|27|November|2024)| |R|Malhan|(appointed|27|June|2024)| |Company|registered| |number|03012233| |Charity|registered| |number|1043739| |Registered|office|YMCA,|Tramway|Drive| |Wolverhampton| |West|Midlands| |WV2|1BJ| |Company|secretary|Stephen|Bavington|(appointed|29|October 2024)| |Jill|Law|(resigned|29|October 2024)| |Independent|auditors|WR|Partners| |Chartered|Accountants| |Statutory|Auditors| |Belmont|House| |Shrewsbury|Business|Park| |Shrewsbury| |Shropshire| |SY2|6LG| |Bankers|Unity|Trust|Bank|Plc| |Four|Brindley|Place| |Birmingham| |B1|2JB| |Chief|officer team|Steve|Bavington|-|Chief|Executive|Officer| |Steve|Lee|-|Chief|Financial|Officer| |Sally Cowen|-|Chief|Operations|Officer|(Places)| |Joanne|Goldie|-|Chief Operations|Officer|(Progammes)| |Helen|Brown|-|Chief Operations|Officer|(Early|years)|(appointed|10|June|2024)|

----- End of picture text -----

Page 1

YMCA WOLVERHAMPTON (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their Annual Report, together with the audited financial statements of YMCA Wolverhampton for the year ending 31 March 2025.The Annual Report serves the purpose of both a Trustees’ report and a Directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) as amended by Updated Bulletin 1 and 2.

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 has been omitted.

YMCA Wolverhampton is a charitable company, whose sole member is YMCA Black Country Group (the Group).

Objectives and activities

a. Mission, Ethos & Values

YMCA Wolverhampton is a charity committed to community transformation, enabling people to develop in mind, body and spirit, and principally serving the area of Wolverhampton, the Black Country, and South Staffordshire areas. Built on a Christian foundation, with an ethos that is inclusive of all, we are a youth minded organisation, with a community approach.

We work with children, young people and their families, offering support & advice, accommodation, family work, health & wellbeing, and training and education services.

During the year the principle activities of the YMCA Wolverhampton were young people’s housing (28%) and childcare (71%).

Our values, of Inspire, Trust, Compassion and Hope, shared in common with the Group, describe the way we behave. They aim to be Christ centred, inclusive for all and aspirational.

b. Connected Communities: A Stategic Guide

The Charity’s direction of travel is guided by a group-wide strategy, detailed in Connected Communities: 202025, a Strategic Guide.

This forward strategy will be delivered through five areas of focus.

;

Page 2

YMCA WOLVERHAMPTON

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

a. Key financial performance

Inflation continues to be an on-going challenge, given the limited resources the charity has at its disposal. However, YMCA Wolverhampton is committed to fulfilling its mission of working with those in the local community who are most in need. The financial performance of 2024/25 was a much-improved period of growth for Childcare services contributing to a surplus amounting to £358,295 compared with last year’s surplus of £29,612.

b. Review of activities of The Charity

Places of Transformation

YMCA Wolverhampton Housing supported 86 young people in Wolverhampton from its Cannock Road, Pendeford and our Rugeley projects with an average occupancy of 96%.

During the year, YMCA served over 1,000 children who received high quality childcare and early year’s education through the 9 nurseries in Sandwell, Walsall, Wolverhampton and Dudley.

During the year also our Early Years team continued to embed our YMCA Curriculum across all our settings with 1 of the settings is graded Ofsted Outstanding, while the remaining 8 are Ofsted graded “Good.”

Programmes for People

Our development programmes covered a range of service areas including learning and skills, health & wellbeing, family work and support and advice programmes.

Community Outreach Wolverhampton-wide included the Youth Work Programme. Y’s Youth has continued to deliver a home education session which retains good attendance. This provides a space for home educated young people to socialise and engage in creative activities. In addition, we secured some additional funding to continue to run a youth club after school which has been focussed on teaching new craft skills to young people, for example we have delivered a sewing skills workshop which was requested by our young people. In the holiday periods we continue to deliver the Holiday Activity programme which in contracted for all main school holidays. This continues to be well attended and one of the main pathways to engage with young people in Wolverhampton.

Empowering Young People

Our work with young people continues through the Wrens Nest Navigators and HAF (Holiday Activities and Food) projects, regularly reaching an average of 747 teenagers per month.

Growing Ethos & Values

A new Chaplaincy Coordinator for the group was appointed during the year. They are working closely with the Head of Christian Mission to recruit and train a number of volunteer chaplains to provide support across the various settings with confidential chaplaincy support.

YMCA Black Country Group’s childcare curriculum continues to provide an excellent platform for learning across all our childcare settings embedding Mind Body & Spirit and Belong, Contribute & Thrive within the Early Years Framework. The Curriculum continues to be promoted within the YMCA movement, enabling other YMCAs to improve their practice and quality, and to model diversity within a Christian ethos framework.

Page 3

YMCA WOLVERHAMPTON

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

The Charity Group continued to support the planning of YMCA’s Unify Christian Mission events including 10 members of staff and trustees attending UK Unify in Malvern in October 2024. Our Chief Operating Officer (Programmes) is a member of the YMCA Youth Unify Planning Group. The Head of Christian Mission further supports the spiritual life of the organisation, particularly in taking a lead to provide pastoral support to staff and providing pastoral visits to project managers.

Investing in Talent

The Charity has continued to be impacted by increasing inflation and combined with the impact of national insurance for employers, above inflation uplift of minimum wage and a deficit budget, the Real Living Wage was not implemented.

The Charity continued the Childcare Apprenticeship Academy to train our own apprentices, in partnership with Central YMCA with three cohorts now successfully been recruited and trained.

The Board awarded a cost of living uplift of 2.5% for staff paid above National Living Wage from 1 April 2024, and 2.5% from 1 April 2025.

The Trustees would like to place on record their thanks to the Charity's team of staff and volunteers, who in such unprecedented times have made such a difference in the lives of many children, young people and family members across the Black Country and surrounding area, evidenced in the above review of activities.

Financial review

a. Going concern

The Trustees, supported by the Finance Audit and Risk Committee, have undertaken a detailed going concern review of current and future operations of the Charity and the Group as whole and, after making appropriate enquiries, very thorough consideration of draft budgets and cash flow up to March 2026 and beyond. Having taken key strategic decisions, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Trustees have no doubt that the Charity can pay its debts when they fall due, certainly for in excess of one year from the date the annual accounts were approved. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

The Trustees noted at the time of approval of these accounts, the prudent budget setting for 2025/26 had so far resulted in the charity operating above budgeted levels. At 31 June 2025, turnover is c.£282k above budget and has resulted in a £26k surplus.

Page 4

YMCA WOLVERHAMPTON (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

b. Reserves policy

The Board have agreed a policy of maintaining cash reserves at a minimum of the average monthly outgoings, which for 2024/25 was £328k. At 31 March 2025 the actual cash reserve of the charity was £1,269k achieving the policy requirement.

In considering medium term risks the Board have also agreed that unrestricted funds (including property but net of borrowing) should be between 3 and 6 months operating cost, which at 31 March 2025 was between £984k and £1,968k. Actual unrestricted funds equalled £2,183k which is within the required range.

The Board also tracks a measure of Income Security, requiring the proportion of budgeted income considered secure to be >80% of the overall budget. Based on recent performance, budgeted accommodation, contract and childcare income are considered secure. The Income Security Measure for the charity at 31 March 2025 was 98% providing a good indication of future stability.

c. Material investments policy

Under the Articles and Articles of Association, the charity has the power to invest in any way the Trustees wish. The Trustees, having regard to the liquidity requirements of day-to-day operations and to the reserves policy, have, historically, operated a policy of keeping sufficient funds available on current account (to offset standard bank charges) and in an interest bearing account to generate a modest rate of return on such monies. The Charity currently does not have funds available to utilise for investment purposes; working capital requirements are met from the Charity’s current account.

d. Designated funds policy

In addition to the cash reserves referred to above, Trustees have set aside the following cash resource to be designated as follows: Childcare Assets: £681k being the remaining funds set aside for the expansion of childcare in line with strategic objectives.

e. Principal risks and uncertainties

YMCA Wolverhampton maintains a Corporate Risk Register which is then “RAG” rated. This is scrutinised by the Finance Audit and Risk Committee annually and presented to the Board for approval. This is reviewed on a regular basis by the Chief Officer team who, in accordance with the Risk Management Policy, are required to notify the Chair of the Board (normally via the CEO) of any new risks or any re evaluated existing Retained (Net) Risks which exceed the Acceptable Risk Score Threshold as identified on the Corporate Risk Register.

The FAR completed its annual scrutiny of the Corporate Risk Register at its June 2025 meeting and recommended this to the Board for approval.

In addition, the Senior Leadership Team are responsible for highlighting operational risks which are captured on an Operational Risk Register. This is periodically reviewed at Senior Leadership Team meetings with additional risks and changes to existing risks discussed.

Page 5

YMCA WOLVERHAMPTON (A company limited by guarantee)

Rs

ss SS TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

f. Financial risk management objectives and policies

The Trustees have overall responsibility for the system of internal financial control, the effectiveness of which has been reviewed and reported on to the Trustees by the Group Finance, Audit and Risk SubCommittee. The principal elements of the system, which is designed to recognise the specific characteristics and objectives of YMCA Wolverhampton and the risks to which it is exposed, include:

° A regular review procedure carried out by YMCA Wolverhampton of its risk exposure and of the systems of internal financial control in place to mitigate those risks, with annual reports of findings to the Trustees.

Internal financial control, by its nature, provides only reasonable and not absolute assurance against material misstatement or loss.

g. Principal funding sources

The principal funding sources for the Charity for the financial year were:

Source Project/Area ofWork
Accommodation Rent Including HousingBenefit andSelf-Rent
City ofWolverhampton Council {Adult and Community Learning
Donations Including
theMoving Forward Fund
Nursery Fees IncludingParents and Local Authority Funding
StaffordshireCountryCouncil

Furthermore information regarding the above sources and other amounts can be found in the attached financial statements.

a

Page 6

YMCA WOLVERHAMPTON (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

a. Constitution

YMCA Wolverhampton is a company limited by guarantee and its governing document is its Articles of Association. It is autonomous of, but affiliated to the National Council of Young Men's Christian Associations, which is the mechanism by which individual YMCAs of England and Wales federate. The sole member of YMCA Wolverhampton is YMCA Black Country Group.

For the sake of clarity, all references to Trustees are synonymous with Directors for purposes of Company law.

The Objects of the YMCA Wolverhampton, principally within its geographical areas are:

. To provide or assist in the provision in the interests of social welfare of facilities for recreation and other leisure time occupation for men and women with the object of improving their conditions of life;

. To provide residential accommodation, including Social Housing, for people of all ages and in particular young people, who are in need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances.

YMCA Wolverhampton welcomes, serves and works with persons of all religious faiths and of none.

b. Methods of appointment or election of Trustees

The Governance Committee are tasked with overseeing the process of Board skill gap analysis and the recruitment of new Trustees. The Committee have been particularly active in recent years overseeing the recruitment of new trustees as retiring trustees have completed their three terms of office. They have sought to develop a healthy diversity, ensuring always an appropriate match of skills and ethos, combined with an intentional desire to broaden gender, ethnicity and age profiles.

A ‘Young Trustee’ Clotilda Tigere was successfully elected at the AGM in November 2024 and is currently being mentored, giving a young voice to the Board and helping to reduce the average age of trustees.

The Board acknowledges the input and commitment from Grace England and John Welsby who have stepped down at the November AGM, due to moving out of the area to pastures new. Further recruitment is planned for 2025/26 in particular the recruitment of a further “Young Trustee.”

Trustees are appointed by election at AGM or co-option, in accordance with the Articles.

Page 7

YMCA WOLVERHAMPTON

(A company limited by guarantee)

mE

LT a_i TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

YMCA Wolverhampton’s forward strategy, together with high level policy are approved by Trustees. The Chief Executive Officer is responsible for the operational implementation, delivered through Chief Officers, and a wider Senior Leadership Team.

d. Pay policy for senior staff

The Group, has established a Chief Officer Remuneration and CEO Review Committee which meets annually to approve remuneration of Chief Officer posts.

e. Risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

The FAR completed its annual scrutiny of the Corporate Risk Register at its June 2025 meeting with the Register recommended to and approved by the Board in July 2025.

Plans for the future year

During the year the Chief Officers and Board have consulted widely to develop a new strategic plan to take YMCA through the coming five years. ‘The SHAPE of Communities’ Strategic Guide 2025-30 outlines the key areas that came through for the organisation to focus on for greatest impact.

Ss. Safe Communities: A commitment to protect communities and individuals, whilst ensuring the organisation contributes to social cohesion, education and support for young people and families

H. Healthy Communities:

Nurturing body, mind and spirit with an emphasis on fostering healthier communities

A. Aspirational Communities: Building aspirations and encouraging individuals to achieve more, both in their personal lives and within the communities YMCA serves

P. Protected and Sustainable Communities:

Ensuring the sustainability of the YMCA’s services and buildings, promoting environmental responsibility and creating safe, supportive environments for young people

E. Engaged Communities: Emphasising stakeholder engagement, community visibility and empowering young people, while promoting communication and collaboration both locally and internationally

The Strategic Plan is backed up by a comprehensive 5-year business plan that has been developed by the Senior Leadership Team, with input from the whole staff team. This outlines the key deliverables, with targets for each department, providing a roadmap for success.

a

Page 8

YMCA WOLVERHAMPTON (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Regulatory Bodies and Statutory Controls

a. Charity Commission

Trustees have considered their obligations to the Charity Commission and recognises that good governance is essential to the success of a charity. YMCA Wolverhampton abides by a Code of Governance (see below).

There were no serious incidents reportable to the Charity Commission during the year.

b. Code of Governance

The Trustees acknowledge compliance with the Charity Code of Governance (2020) which was adopted in March 2021 and have tasked the Governance Committee with the role of annual scrutiny to ensure compliance recommending remedial and improvement actions to the Board.

c.

Fundraising Statement

Fundraising undertaken by YMCA Wolverhampton for its charitable activities are carried out by employees or volunteers of YMCA Wolverhampton. Funds raised outside of contracts and traded income are mainly sourced through charitable grants obtained through a rigorous process of application. Funds presently raised from voluntary donations are principally for specified purposes, namely the ‘Moving Forward Fund’, with donations raised to provide low cost resources to YMCA residents who are in the process of moving into interdependent accommodation.

No fundraising has been undertaken on behalf of the YMCA Wolverhampton by a contracted third party individual or organisation.

d.

Value for Money

A Value for Money Strategy has been developed in compliance with the Group’s regulatory requirements.

YMCA Wolverhampton proactively engages with all of its service users whether this be through one to one support, service user meetings or satisfaction questionnaires to ensure that the services delivered are fit for purpose and outcomes achieved.

Contracted work won under competitive tendering situations is scrutinised against price and quality, with the need to offer and deliver best value to secure new contracted work. Exempt housing rents are now regularly scrutinised by Local Authorities to ensure they represent value for money. Traded services (e.g. office & meeting room rental) operates within the boundaries of local market forces to moderate price.

The Finance Policy of YMCA Wolverhampton has clear levels of authority delegated to officers but with certain financial transactions based on value and type of expenditure requiring Trustee approval. Financial and non financial outputs and performance are scrutinised by the Group’s Finance Audit and Risk Sub Committee for variances. In addition, a Corporate Risk Register is maintained, updated and reviewed on a regular basis.

YMCA Wolverhampton has benefited from cost savings achieved by way of Group wide procurement. Significant cost savings continue to be achieved in respect of insurance, audit and utility costs.

Page 9

YMCA WOLVERHAMPTON

(A company limited by guarantee)

==> picture [49 x 7] intentionally omitted <==

----- Start of picture text -----
A
----- End of picture text -----

==> picture [56 x 7] intentionally omitted <==

----- Start of picture text -----
a
----- End of picture text -----

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

e. Safeguarding

The Group Safeguarding Committee is a well established Committee comprising of Trustees, Governance Members, Designated Safeguarding Lead together with Designated Safeguarding Officers and which meets bi monthly to scrutinise safeguarding incidents and to ensure compliance with legal and regulatory requirements including the reporting of incidents as they arise to the relevant authorities, including the Charity Commission. f. Consideration of furthering furthering the YMCA Wolverhampton’s YMCA Wolverhampton’s Wolverhampton’s Purposes for the the Public Benefit The Trustees have considered the general guidance on public benefit issued by the Charity Commission and believes that having reviewed the Charity's activities undertaken to achieve its charitable objects, the Charity does indeed provide significant public benefit. Details of these activities are outlined in the Review of Activities of the Charity, above.

Statement of Trustees’ responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

==> picture [476 x 4] intentionally omitted <==

----- Start of picture text -----
a
----- End of picture text -----

Page 10

YMCA WOLVERHAMPTON (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Auditors

The auditors, WR Partners, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

==> picture [57 x 9] intentionally omitted <==

----- Start of picture text -----
Phjlip Walker
----- End of picture text -----

Date: 17 September 2025

Page 11

YMCA WOLVERHAMPTON (A company limited by guarantee)

EE EEE INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF YMCA WOLVERHAMPTON

Opinion

We have audited the financial statements of YMCA Wolverhampton (the ‘charity') for the year ended 31 March 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Trustees' 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 charitable 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 Trustees with respect to going concern are described in the relevant sections of this report.

Page 12

YMCA WOLVERHAMPTON (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF YMCA WOLVERHAMPTON (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 13

YMCA WOLVERHAMPTON

(A company limited by guarantee)

es INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF YMCA WOLVERHAMPTON (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 14

YMCA WOLVERHAMPTON

(A company limited by guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF YMCA WOLVERHAMPTON (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, 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 charitable company's trustees those matters we are required to state to them in an Auditors’ 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.Af Dobe

Andrew Malpass BA (Hons) FCA (Senior statutory auditor)

for and on behalf of

WR Partners Chartered Accountants Statutory Auditors Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

29 September 2025

Page 15

YMCA WOLVERHAMPTON

(A company limited by guarantee)

pe Se eg ee Se EE eas STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Total Total
funds funds funds
2025 2025 2024
Note £ £ £
Income from:
Donations and legacies 4 425 425 20
Charitable activities 5 4,333,333 4,333,333 3,272,859
Investments 6 7,400 7,400 6,922
Service charges for social welfare income 7 30,496 30,496 4,254
Total income 4,371,654 4,371,654 3,284,055
Expenditure on:
Charitable activities 4,013,359 4,013,359 3,254,443
Total expenditure 4,013,359 4,013,359 3,254,443
Net movement in funds 358,295 358,295 29,612
Reconciliation offunds:
Total funds brought forward 1,825,012 1,825,012 1,795,400
Net movement in funds 358,295 358,295 29,612
Totalfundscarriedforward 2,183,307 2,183,307 1,825,012

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 34 form part of these financial statements.

Page 16

YMCA WOLVERHAMPTON

(A company limited by guarantee) REGISTERED NUMBER: 03012233

BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 13 291,810 356,389
291,810 356,389
Current assets
Stocks 14 238 238
Debtors 15 948,670 504,968
Cash at bank and in hand 1,269,612 1,211,266
2,218,520 1,716,472
Creditors: amounts falling due within one
year 16 (327,023) (247,849)
Net current assets 1,891,497 1,468,623
Total assets less current liabilities 2,183,307 1,825,012
Net assets 2,183,307 1,825,012
Total net assets 2,183,307 1,825,012
Charityfunds
Restricted funds 17 - -
Unrestricted funds 17 2,183,307 1,825,012
Totalfunds 2,183,307 1,825,012

Page 17

YMCA WOLVERHAMPTON

(A company limited by guarantee) REGISTERED NUMBER: 03012233

ee ee a i a

EnrsnErnnn SuSE EEE

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

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

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Philip Walker Date: 17 September 2025

The notes on pages 20 to 34 form part of these financial statements.

Page 18

YMCA WOLVERHAMPTON (A company limited by guarantee)

==> picture [471 x 284] intentionally omitted <==

----- Start of picture text -----
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025 2024
Note £ £
Cash flows from operating activities
Net cash used in operating activities 19 60,944 (361,904)
Cash flows from investing activities
Purchase of tangible fixed assets (2,598) (98,370)
Net cash used in investing activities (2,598) (98,370)
Change in cash and cash equivalents in the year 58,346 (460,274)
Cash and cash equivalents at the beginning of the year 1,211,266 1,671,540
Cash and cash equivalents at the end of the year 20 1,269,612 1,211,266
The notes on pages 20 to 34 form part of these financial statements
----- End of picture text -----

Page 19

YMCA WOLVERHAMPTON (A company limited by guarantee)

rm NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarentee is limited to £1 per member of the Charity.

2. Accounting policies

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the second edition Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

YMCA Wolverhampton meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

After making enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

Page 20

YMCA WOLVERHAMPTON (A company limited by guarantee)

NuEEE —=—>=———————————————z{—=£={——{&{—&—&{&£—<>[——

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

  1. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORO (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees’ report for more information about their contribution.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 21

YMCA WOLVERHAMPTON

(Acompany limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.6 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Leasehold property - Over the term of the lease Leasehold improvements - Over the term of the lease Fixtures and fittings - 20% straight line Computer equipment - 33% straight line

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 22

YMCA WOLVERHAMPTON (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 23

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Income from donations and legacies

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Donations 425 425 20
Total2025 425 425 20

5. Income from charitable activities

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Charity income 48,323 48,323 97,266
EarlyYears 1,210,714 1,210,714 1,063,806
HB - Badger 757,222 757,222 683,256
Government Grants 1,877,441 1,877,441 1,028,238
Wolverhampton City Council 439,633 439,633 400,293
Total2025 4,333,333 4,333,333 3,272,859

6. Investment income

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Bank interest 7,400 7,400 6,922
Total 2025 7,400 7,400 6,922

Page 24

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Other incoming resources

Unrestricted Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Service charges for social welfare income 30,496 30,496 4,254
Total 2025 30,496 30,496 4,254
Direct Costs
Social
Supported Welfare Total Total
Housing Activities Corporate 2025 2024
£ £ £ £ £
People Related - 16,003
Direct Activity Costs 24,818 149,947 - 174,765 169,630
Bad Debt 6,623 - 10,384 - = 3,761 - 3,022
Depreciation 19,408 47,319 - 66,727 46,912
Travel Costs 1,467 1,027 - 2,494 3,834
Premises Costs 213,497 211,021 - 424,518 401,220
Outsourced Services 223,598 67,672 - 291,270 238,500
Wages and Salaries 238,225 1,787,440 - 2,025,665 1,569,425
National Insurance 17,488 107,616 - 125,104 92,047
Pension Cost 6,950 32,954 - 39,904 24,690
Funding & transaction costs 1,637 4,987 - 6,624 8,860
Group Recharges 67,600 148,800 - 216,400 216,983
Office Costs 6,807 17,496 - 24,303 33,707
Other Operating Overhead 8,467 47,616 - 56,083 57,132
836,585 2,613,511 - 3,450,096 2,875,921
Total2024 816,886 2,058,762 273 2,875,921

8. Direct Costs

Page 25

YMCA WOLVERHAMPTON (A company limited by guarantee)

ee

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Support Costs
Social
Supported Welfare Total Total
Housing Activities 2025 2024
£ £ £ £
Central Services and Other Costs 136,483 426,780 563,263 378,522
Total 2024 122,289 256,233 378,522
10. Net income/(expenditure)
This is stated after charging:
2025 2024
£ £
Depreciation of tangible fixed assets:
-owned bythe charity 67,177 32,882
Auditors remuneration - audit 7,530 6,090
Auditors remuneration - accounts 1,660 1,345
Operating lease rentals 133,233 66,400
209,600 106,717
11. Staff costs
2025 2024
£ £
Wages and salaries 1,979,656 1,569,426
Social security costs 125,104 92,047
Contribution to defined contribution pension schemes 39,904 24,690
2,144,664 1,686,163

Of the above £nil relates to redundancy payments made in the year (2024: £17,981).

Page 26

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Other

2025 2024 No. No. 105 103

The average headcount expressed as full-time equivalents was: 71 (2024: 70).

No employee received remuneration amounting to more than £60,000 in either year.

Page 27

YMCA WOLVERHAMPTON (A company limited by guarantee)

Se iain

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

13. Tangible fixed assets

Leasehold Leasehold Fixtures Computer
property improvements and fittings equipment Total
£ £ £ £ £
Cost or valuation
At 1 April 2024 260,314 174,346 76,591 3,271 514,522
Additions 2,598 - - - 2,598
Transfers between classes (121,067) (33,933) 155,000 - -
At 31 March 2025 141,845 140,413 231,591 3,271 517,120
Depreciation
At 1 April 2024 45,650 73,184 36,573 2,726 158,133
Charge forthe year 20,319 18,579 27,825 454 67,177
Transfers between classes 35,101 (41,611) 6,419 91 -
At 31 March 2025 101,070 50,152 70,817 3,271 225,310
Net book value
At 31 March 2025 40,775 90,261 160,774 - 291,810
At 31 March 2024 214,664 101,162 40,018 545 356,389
14. Stocks
2025 2024
£ £
Raw materials and consumables 238 238

Page 28

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Debtors

2025 2024
£ £
Due within one year
Trade debtors 84,649 58,183
Amounts owed bygroup undertakings 807,841 315,132
Other debtors 4,937 19,847
Prepayments and accrued income 51,243 111,806
948,670 504,968

16. Creditors: Amounts falling due within one year

2025 2024
£ £
Trade creditors 40,958 68,114
Other taxation and social security 8,110 27,041
Other creditors 638 8,784
Accruals and deferred income 277,317 143,910
327,023 247,849
2025 2024
£ £
Deferred income at 1 April 2024 92,321 111,017
Resources deferred during the year 189,135 92,321
Amounts released from previous periods (92,321) (111,017)
189,135 92,321

Page 29

eeail

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement offunds
Statement offunds - current year
Balance at
. Balance at 1 Transfers 31 March
April 2024 Income Expenditure in/out 2025
£ £ £ £ £
Unrestricted funds
Designated funds
Childcare Assets 681,643 - - 35,090 716,733
General funds
General Funds- all funds 1,143,369 4,371,654 (4,013,359) (35,090) 1,466,574
TotalUnrestrictedfunds 1,825,012 4,371,654 (4,013,359) : 2,183,307

Designated Funds

Childcare assets designated funds have been designated by the Trustees for future expansion of Childcare services.

Page 30

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

  1. Statement of funds (continued)

Statement of funds - prior year

==> picture [442 x 186] intentionally omitted <==

----- Start of picture text -----
Balance at
Balance at Transfers 31 March
1 April 2023 Income Expenditure in/out 2024
£ £ £ £ £
Unrestricted funds
Designated funds
Childcare Assets 737,711 - - (56,068) 681,643
General funds
General Funds- all funds 1,057,689 3,284,055 (3,254,443) 56,068 1,143,369
Total Unrestricted funds 1,795,400 3,284,055 (3,254,443) - 1,825,012
----- End of picture text -----

Designated Funds

General designated funds have been designated by the Trustees for motor vehicle replacement.

Childcare assets designated funds have been designated by the Trustees for future expansion of Childcare services.

Page 31

YMCA WOLVERHAMPTON

(A company limited by guarantee)

EEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted Total
funds funds
2025 2025
£ £
Tangible fixed assets 291,810 291,810
Current assets 2,218,520 2,218,520
Creditors due within one year (327,023) (327,023)
Total 2,183,307 2,183,307
Analysis of net assets between funds - prioryear
Unrestricted Total
funds funds
2024 2024
£ £
Tangible fixed assets 356, 389 356,389
Current assets 1,716,472 1,716,472
Creditors due within one year (247,849) (247,849)
Total 1,825,012 1,825,012
  1. Reconciliation of net movement in funds to net cash flow from operating activities
2025 2024
£ £
Net income forthe year (as per Statement of Financial Activities) 358,295 29,612
Adjustments for:
Depreciation charges 67,177 46,909
Increase in debtors (443,702) (352,809)
Increase/(decrease) in creditors 79,174 (85,616)
Netcashprovidedby/(usedin)operatingactivities 60,944 (361,904)

Page 32

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Analysis of cash and cash equivalents

==> picture [442 x 76] intentionally omitted <==

----- Start of picture text -----
2025 2024
£ £
Cash in hand 730,552 679,617
Notice deposits (less than 3 months) 539,060 531,649
Total cash and cash equivalents 1,269,612 1,211,266
----- End of picture text -----

21. Analysis of changes in net debt

==> picture [442 x 79] intentionally omitted <==

----- Start of picture text -----
At 1 April At 31 March
2024 Cash flows 2025
£ £ £
Cash at bank and in hand 1,211,266 58,346 1,269,612
1,211,266 58,346 1,269,612
----- End of picture text -----

22. Pension commitments

The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £39,904 (2024: £24,690).

Page 33

YMCA WOLVERHAMPTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

23. Operating lease commitments

At 31 March 2025 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2025 2024
£ £
Not later than 1 year 88,839 169,340
Laterthan 1 year and not later than 5 years 224,223 564,274
Later than 5 years 500,500 1,001,286
813,562 1,734,900

The following lease payments have been recognised as an expense in the Statement of financial activities:

Operating lease rentals

2025 2024
£ £
169,340 133,233

24. Related party transactions

The Charity has taken advantage of the exemption available not to disclose transactions entered into between two or more members of a Group, as the Charity is a wholly owned subsidiary undertaking of the Group to which it is party to the transaction.

25. Controlling party

The ultimate parent company is YMCA Black Country Group, a company registered in England and Wales.

Page 34