REGISTERED COMPANY NUMBER: 02978406 (England And Waleg) REGISTERED CHARITY NUMBER: 1044624 Reporl of the Trustees and Flnanclal Statements ror th¢ Year Ended 31 Mareh 2024 for YMCA George Wllllams Company Ward Goodman Audil Services Lid 4 Cedar Park Femdown Industrial Estate Wimborne Dor5el BH217SF YMCA Cmrge Willi8ms Company Contents of the Flnanclal Statement5 for Ihe Year Ended 31 March 2024 PAge Reporl of the Truslees Statement of Trustees, R¢sponslbllliles 10 Report of lh¢ Independent Audltors Statement of Flngnclal Acllvllles 14 Balance Sheet 15 Cash Flow Statement 16 Notei lo the Cash Flow Statement 17 Notei to the Fln•n¢l*l S¢i¢emen¢8 18 10 31 YMCA George Wllll*ms Company (R¢glster¢d number; 02978406) Report of the Trustees (or the Y¢ar Ended 31 Mar¢h 2024 The Board of Tn￿lees. who are also Directors of the charity for Ihe purposes of the Companies Act 2006. presenls Ihe Annual Report And audited Financial Staiements for the year ended 31 Mareh 2024. The Annual Report and Financial Statements are also prepared io meet the requiff ments for a Directors, Report and Accounts for Compllnies Act purposes. YMCA George Williams College 15 an independent registered charity within the YMCA Federation of England & Wales. The cutyent organisation was fornicd following the merger in April 2022 which brou8hi logeiher the Cenlre for Youth Jmpa¢i wilh YMCA George Williams College. combining expertise in understanding and improving quality and impacl with the trainin8 and development of praclilioners in youth and communiry provision. Chalr's Introd￿¢110￿ YMCA George Williams College ends the 2023-24 financial year having made significant progress on a number of key areas of our slTalegy. The Board of Trustees are 8raleful to our 51alTiefim for their hard Work and commitment to the College and to Ihe delivery of our mission. The challenging economic situation, increased cost pressures combined with a period of chan8e post-merger. have meant thal thi5 ycar has bccn a pcriod of con501idalion raihcr ihan growth. Dcspitc this. our focus has rcmaincd vcry much on our 2023-2028 Strategy where there has been strong progress on the 'Building Methods, gmbilion via th¢ development and delivery of a Comprehensive fte¢ lo access support offer to the sector as well as considerable development work on Ihe College's suite of measure& resourccs and t￿lS Io sUPPOrt our ombitions of "Building Agency" in the seclor. Wc have also Continued to lake important steps forward in improvin8 our 0￿rating 5yslems- with progress a¢r055 a ran8c of COr￿Tate functions Ihe introduction of new proje¢t mana8enxnt Sy8lems which will improve our ability lo deliver complex projects. Highlights of the past ye8r have included: Piloting our Impact and Improvefflenl Standards which offer organisalions a comprehensive framework Ihrough which to undcrsiAnd Ihe impact of their provision and reflect on ways to improve ihis. Workin8 With ihe Back Youth Alliance ¢0 pro8￿S9 discussions on shared measuremenl suppotlin8 th¢ Youth S¢¢tor lo develop a common narralive about reach, scale and impact of work with young people. Recruitin8 our Youth Voice Ambassador Panel and Youth Voi¢¢ Practitioner Panel to 8uid¢ the Centre for Youth Voice - Achieving NCFE Approved Centre status and CPD aecreditslion for our ITaining Supporling the impl¢menlalion of Vision 2030 across the global movement and championing aft innovation and learning culture across Ihe YMCA movement L4unchin8 the 4 Nations Impact network expanding on the lon8Standin8 Regional Impact Networks mo(kl. Launchin8 the Youth Work Evidence Alliance a collaboration of the funding community, infraslructure bodies, practitioners aThJ local authorilies who share the goal of transformalivc. collaborative action in collatin& sharin& and reflecting on dalg aboul thc impact of youth work. In 2024-25 we up￿1 lo further promole our supporl offer lo the sector as w¢ll as piloling al s¢ale - Ihe use of the College's Social and Emotional measures. We are deeply grate￿7 lo our partners and funders for supporting our work and remain committed to deli￿ring trdnsforn)ational support lo all those working with and for young people. Marlin Houghlon-Br0w￿ Chair Pa8e I YMCA George Willlams Company (Reglst¢red number: 02978406) Report of the Trustees ror the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Mission Staternent Our Vislon We believe all young people should have ￿CesS lo high*uality spaces and opportunities to leArn. grow and explore their lationships with the world around them. Our M1191on This vision drives our mission.. to provide Iransformalional support lo all iknse working with and for young people through building relle¢live praclilioners and qualily relational practi¢e. grounded in a shared evidence base. We do this by working with our partners, praclilioners and young people lo: o Iransforni our collective understanding of how and why youih work and inforn)al learning changes lives. o Iransfomi how we collectively measure and advocate for Ihe change Ihal youth work and infornial l¢arning crealc5; O Iransfom perceptions of the se¢tofs commiimeni to evalualion, lo InflUe￿e boih policy and inveslmenl: aftd 0 transform support for the sector, so that everyone working with and for young people can actively improve the quality of Ih¢ir pra¢ti¢¢ and Ih¢r¢for¢ the outcomes for th¢ young p¢opl¢ and ¢ommuniti¢s Ih¢y ¢ngage. Slenllleint aetlvltles Following thc publicalion of Thc College's new post-merger slralcgy in January 2023, Ihis financial year has focused on dclivery of programme and projects which support the achievement of these ambilion$. Following the publicytion of The College's new posl-mergcr slrale8y in January 2023, Ihis finaneial year has focused on deliv¢ry of pro¥rafflme and projects whi¢h support Ihc achicvcm¢nl of th¢5¢ ambilions. Whilsl we have fOC￿Sed on consolidation rather than the planned ambitions for growth, Ihere has been sirong pro8ress on a number of key priorities, including Ihe development and delivery of a comprehensive flee lo acce5S SUPPOrt offer to the sector. In addilion, there was considerable progress in Ihe developffleni of a suite of rneasuremcnt lools and resources io support our ambili0118 of 'Building Agency" in the Sector. Following the merger, the College's work became StrU¢Nred around Ihree "Cenlres of expertise"; the Centre for Quality Praclice. the Centre for Youth Impact. and Ihe Cenlre for Youth Voice. These are al very differcnt 5188¢s of their evolution bul throughout the year Ihere has been progress a¢ross all Ihree. Publ1¢ beneflt The Tru51e¢5 have had due regard to the Charity Commission guidance on public bcnefil. We hav¢ continu￿ lo (kliver public benefit in line with our charitable objects through,. th¢ provision of Irainit)g for adults and young people,. the advancement of rescarch in respect of children or young people and the publication of useful results; and promotion of the elTiciency, effectiveness and impact of charilies working lo support young people and Ihe PTomolion of the voluntary youih sector Ihrou8h.' collaborntiort on relevanl issueg; providin8 lrninin8. conferences and seminars,. identifying needs in the voluntary youth seclor and establishing proj¢¢ls or policies to address them. and raising awareness and advocatin8 for the seeior. Delails of the type of activilies dcliv¢￿d in the public benefit can be found in thc "Achicvemeni and perfomwnce" section of this report. Page 2 YMCA George Wllll*ms Company {Reglstered number: 02978406) Report of the Trustees for Ihe Ye•r Ended JI M*r¢h 2024 STRATEGIC REPORT Achlevement and performwnce Charitable a¢tivitie$ This year has seen progress in the work of Ihe College's three cent￿$, The Centre for Quality Prdclice works lo develop thoughtful and skilled practilioners able to deliver high quality youth provision. The past year. the Centre has focused on th¢ d¢veloprnenl and delivery of a Sirons educational and trainin8 offer. Ncw courses have been written. piloted And delivered and Ihe Colle8e has also achieved approved centre slaMS enabling us to dclivcr dccrcditcd coursc¥. In addition, th¢ Centre h&$ supported a number of individual OT8Anisalions on Iheir learning journeys vi8 our organisalional support offer. The Cenlre for Youth Impact has coniinu¢d to deliver a programme of iraining and support lo improve Ihe capacity of the secior lo uftderstand and measure impact as well as promoling the College's suit¢ of Impacl measuremenl tools. The Centre also conlinued lo develop our Youth Impact Portal to facilitale dats collection, collation and visualisalion. The Centre for Youth Voice is Ihe newe51 C¢nlr¢ bui over lh¢ COU￿ of the year has begun lo take shape and fom). We were able to undenake an in-depth eonsultaiion wilh boih young people and the youth sector on what would enable us lo improve th¢ quality, re￿h and impact of youth voice activity and to use ihese insi8his lo guide plans for Ihe Cenlre for Youih Voice. We were also able lo recnjit a panel of Youth Voice Ambassadors and a Youth Voice Praciilioner Panel who will help us ensure we conlinue lo co create conlent and dircclion of tTavcl with our slakcholdcrs. In addilion, Ihe Centre has driven improv¢menls in the College's pracii¢e 10 enhan¢e youih voice and en8agemenl across all lh¢ organisation as a wl)ole. There has also been a focus on improving internal and operational systems. improving our project managemenl processes, financial moniloring and FIR practices. This has includcd a sp¢cific focus on Equity, Divcr¥ity and Inclusion where the opcrdlions team and the Or￿niSationS EDI Workin8 group together have been able lo improv¢ and develop inclusiv¢ recNilmeni and HR pracli¢es as well as developing 8 bank of resources for the team to develop Iheir understanding and confidence around equilable practice. Flnancl*l revlew Flnonel41 poslllon Income for the year increased to £1,460m (2023.. £1.099m), of which £1.004m (2023., £0.772m) related lo re5tricled funds. Expcnditure for the year including boih direct projeei ¢os15 and ovcrhcads was £1.918m (2023: £1.488m) resulting in a net expendi￿re of £0.458rn {2023: £0.389m) of which a surplus of £0.084m aroK on r¢stri¢ted funds Bivin8 a deficit of £0.542m on 8et)ewal funds (2023.. reslricled fvnd deficit £0.057m And 8eneral fund defi¢il £0.332m). The Colle8e participated in a mulii-employer defined benefit pension plan for enwloyces of YMCAS in England. Scotland and Wales, whi¢h was closed to new membets and accruals on 30 April 2007. Thc College is required to pay d¢fi¢it ontributions grising from service of past employees. The YMCA Pension Plan had a tricnnial valuation and the Pcnsion Trn51ee was able io redu¢e Ihe defi¢il conlribulions and shorten Ibe repayment period resultin8 in a pension actuarial gain of £17 Ik arising in ihis year. Trustees expect a smaller deficil in ihe financial year 2024125 a5 Ihe charity Continues lo invest in our sys{en￿ and operating model. The trustees believe thal Ihis inveslment is justified lo build a sustainable operating model for the future where Ihc ¢h4rity ean invesi in the development of our learning and youth voice work. As part of Ihis review. with effeci from AuBUSt 2024 Finance and HR support s¢tvi¢es are now provided by YMCA England and Wales. Investment pollty and obJettlves The charily holds 115 fvnds in a wrrmt a￿ount. The Board of Trustees lake the view that the charitys fu￿15 need lo be readily available and that cash balances are insufficien¢ly high on an ongoing basis lo warranl addilional inveslmeni measures. P•8e 3 YMCA George Wllllams Company {Reglstered number; 02978406) Report of the Trllslees for th¢ Yexr End¢d 31 March 2024 STRATEGIC REPORT Flnanclal revlew Res¢rv¢5 poIIcy The funds that the Board is free lo use to support our charilable work. available at short notice llre known as the reserves" YMCA George Williams College continues lo aim to opera1¢ a policy of maintaining fr¢¢ r¢scrv¢s at 4 l¢vcl io cover three monihs of conlinued operptional Costs. Free Reserves &re represented by unrestricted fijnds (including designated funds), less fixed asseis whi¢h As at 31 March 2024, amounted to £0.527m {2023.' £0.91 m). This amount is sufficient to cover unrcslTicl¢d cxp¢nditur¢ for a period in excess of 7 months. (2023.. 16 mths). The decision was made lo dedicale £l(K)k of reserves next flnancial y¢ar 10 5UPPOrt the 51r4le8ic development ofihe trainin8 programme in recognilion that this ￿presents a significant 8roMh area for Ihe Colle8e and a key driver for th¢ merger. This fundin8 will enjble us to dedicatc Ihe resource to dcvcloping the offer and Keadying the organisalion for delivery. Golng ¢oneerM The College conlinues lo appraise ils financial situation and to odapt ils business model accordingly. The Trnstees believe the College's reserves position lo be salisfaclory and sufficienl lo cnablc thc charity to continuc 115 chaTil4bl¢ aclivili¢$ and mecl annual obligations lo the YMCA Pen$ion Scheme. These accounts hftve therefore bttn prepared on a going conc¢rn basis and Trnslees are satisfied that there are sutTicienl cash reserves lo ¢over Ihe operations and charitsble activities 4S currently pl&nned. Crlterla for succesi In 2023, Ihe organisaiion sei organisalional objeciives. in line with Ihe delivery of the strale8ic plan to Clarify focus for the 18 monihs following. This was presented and agreed with Ttuslees, then rcported on re8ularly at Board meeiings alon8 With the development of other KPI'S relating to the organis4lional and financial health of Ihe charity. The KPIS ineluded the sirenoh of the pipeline for new work, the proportion of new work secured vs bid for, Staff tumover and staff ab5cnlccism. D¢di¢at¢d KPIS were set for each area of the or8anis&lion's delivery. in line wilh slralegic ambitions (for ¢xample, sign ups lo training eourses and numbers of praclilioners accessin8 resourees). P*ge 4 YMCA George Wllllams Company (Regtslered Dumber: 02978406) Report of the Tru$tee$ for Ihe Year Ended JI March 2024 STRATECWIC REPORT Plans for the future Moving forward we will conlinue to d¢liver agaiKst our strategy and the five strategic drivers that shape oui work- Building Mcihod5 Embedding al scale validaled, shared approaches lo research and evaluation in youth provision. evidencing boih the impact of practice and the Strength of prA¢ti¢e-aligned iools. Building Agency - Supporting a slron8er sector with the capacity and capability to improve the desi8n, delivery and evaluation of its praeti¢e, enabling practitioners and young people lo thrive. Building Insight and Evid¢nc¢ - Supporting Ihc 5¢olor lo co-produce a robust. shared evidence base that dernonslrate5 how quality provision improves outcomes for young people, enabling shared insighi. benchmarking and ¢onlinuous quality improvement. Building Partnerships - Establishins and nurturing strong. lrnslin8 and purposefijl parthership5 thal enable us io progress 5yslem-Icvcl change for young people and the youlh se¢ior. Building Ours¢lves - Ensuring we have the capacity and capability to deliver equitably. sustainably and with quality. across our str8t¢8y. Of parlicular significance in 2024-25 will be our work lo enabl¢ us¢ of th¢ College's Social and Emotional measures ai scale, and to work with partners to further the development of a shared evidence base and narralive for the youth secior. We also aim lo increase uptake of our training and support offer - engaging a wide wan8e of or8anisalioffi to reflect on quality and impact and lo further Iheir journey of improvemenl. Thc next ycar will a150 bc a chance lo deliver on the vision of the Cenlre for Youih Voice laun¢hin8 OUT Observatory - an online hub collatin8 research in Youth Voice alongside developing meaningful en8a8ement of young people in the College. In lh¢ year ah¢ad we will eonlinue 10 focus on building strategic parlnerships that enable us lo provide effective infrastructure support io the sector and eslablishes our broader portfolio of work and lo provide thought￿1 insighis and practical support to Ihe sector. We recognise ihal internally. we need to continue lo look for ctTici¢n¢ies in how wc work and chan8es ihai allow us lo support high quality dclivery whilst maintaining financial sustainability during a lough financial coniexi. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng docum¢nt The charity is controlled by ils 8overnin8 doCU￿￿nI, a deed of (rust, and conslitule8 a limited company. limited by guarantee, 88 defined by Ihe Companies Act 2006. Charlty eonstllullon The YMCA G¢or8e Williams ColleBe is a chariiable company limiled by guarantee which obtained ils charitable sialus in March 1995. The company was established under a memorandum of associalion which e51¥4bli5hcd th¢ obj¢cls and powers of the charilable company and 15 governed under ils Articles of Association. In the event of Ihc company iKing wound up each member of the Board is required lo coniribute an an￿Unt not exceeding £1. The Charitable Companls (Colle8e'5) Goveming Body was established under the Further and Higher Educalion Act 1992 for the purpose of leading YMCA Georgc Williams College. Following the developmenl of the College's WOTk in Scolland, ￿gIst￿tion was secured in 2011 with the O￿lCe of the Scollish Charity Regulator (OSCR) - re8i51ration number SC042186 8¢5 YMCA George Wllllams Company (Regls¢ered number; 02978406) Report of the Trustees for the Year Ended JI MY4r¢h 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT The BoArd of Governors The governance of the Charity is und¢rtak¢n by its Board of Trustees. which meets bi-monthly ar]d are rcsponsiblc for ovcrs¢cin8 the slraleBiC direction and policy of the charity. The Truslees. as sel out on page 7, are also the Directors of the company for the purposes of charity law, and. under Ihe company's Articles, are known collectively as Ihe Board of Trustees. Prospective Trnstees are reernited and inlerviewed. and under the requirements of Ihe Memorandum and Articles of Association, clcclcd by a sirnple majority of the Board of Trustees. Trustees serye for a period of three years, after which they may be elected for two ￿rther Ihree-year terms. At this point Trustees musi sland down from th¢ Board for al lcasi one year. after which Ihey may bc rc.elecled. The Trnsiees are greatly valued for Ihe experience and expertise they bring to the organisalion. and for the time thcy voluntarily dedicaie lo supporting ils success. The Board of Trustees undertake regul8r reviews of their governan¢¢, composition and skills in fvlfilling their duties. They recognise the importance of this in cn5uring quality 8overnance of the College's operations And key risks. In addition to a full iDduction, trAining is also provided in response lo Ihese reviews. The Board of Trustees had seven members and met five li￿￿8 to supporl the dcvelopment of ihe Colle8e's slrAtegy. monitor the delivery of business plans. oversee financial and Tisk managemeni. and measure progress in staff recruitment and development. Ai each meeting they received update5 frorn Ihc CEO and oiher relevant staff on pro8ress of the work. The Board of Tr￿leeS has two subcommittees for Finance. Audit and Risk and for Nominations. The Finance, Audit and Risk subcommittee meels quarterly 10 review rnanagemenl a¢counis and audit pr¢paralions, and the Nominations commillee meei when necessary lo review trustee Appointmcnls. The Trustccs arc rc5pon5ible for developing and overseeing the slr&tcBi¢ direciion of Ihe charity and ensuring Ihal Ixsl governance pradi¢e is in place. The Trustees delegate ihe charity's operational management lo th¢ Chief Executive and senior leadership team. Stlffillg Durin8 the year Ihe staff ieam grew from 18 full-lime equivalent posts in March 2023 to 24 ￿E. With coniinuing ftnancial pressure a review of staffing levels has led to a redu¢tion lo 14 slaff as al September 2024 with most arising frorn staff l¢aving for new posis not being replaced how¢Yer Ihere were 2 redundancies. A refreshed pAlary benchmarking and revicw process took pla¢e in the previous financial yeaT ¢omparin8 pay scales with equivalent roles across the seclor. 84nd reassessing bands, levels of responsibility and the salary bandin8 StNcture. The CEO went on secondment as from May 2024 and an interim CEO (Gcethiko Jayaiilaka) was appointed from January 2024. Pa8¢ 0 YMCA George Wllllams Company (R¢g5gtered number: 02978406) Report of the Trustees for the Year Ended 31 MAr¢h 2024 sTRiJ￿uRE, GOVERNANCE AND MANACEMENT Key management remuner*rfon Decisions relating lo pay are made in accordance with ihe or8oni5alions' pay policy which is dcsi8n¢d to attract, rclain, reward and motivate all employees. It provides a ¢ompetitive Compensation package ihal reflects market value, susiained individual pcrfoTrnan¢e, job re$ponsibiliti¢8 and the Charity's performunce against service delivery largels as well as finan¢ial objc¢liv¢s. The rationale for pay decisions 15 guided by the following principle5: To allow the charity to recruit the best people. To allow the charity to relain high-performing staff members; To not ¢au5c incr¢a$¢s lo the Charily's expenditure Ihat could threaten ils suslainability. Fairness; and Transparency. Salaries are ￿gUlarlY benchmarked wilh Ihe most recent benchma￿Ing exercise undertaken December 2022 by an HR consultant. This established a numbcr of pay band5 and a compeien¢y and rcspon$ibililie$ mairix which sels oul clear criteria within which posts are expecied to operate. The B0￿d will serye as remuneration ¢ommitte¢ for SLT and the Chief Ex¢culive. Employees musl be in post at least three months ond have completed their probalionary period lo be eligible for an increase in linc wilh increased 5copc andlor responbibility, and ¢mployees who are already al ihe top of their salary band would nol Ix eligibl¢. SLT $erve As Temuneraiion committee for the remainder of the staff team. Th¢ remuneralion ¢ommitle¢ will have discretion as lo the size ofihe increase wiihift the salary bands. R19k mana8ement The TTuslee5 have a duty to identify and review the risks lo which Ihe charity is expo$¢d and to ensure appropriate controls are in place to provide rcasonablc assurance against fraud and crror. Thc TNslees believe thai the system of internal controls has been adquale lo provide assurance a8ainsl malerial mi5Stalemenl or loss. Policie5 and procedurcs are in place to manage the charity'5 risks, Risks Tcgularly reviewed by Ihe CEO. Senior Leadership Team, the Finance and Risk Committtt. and are reported bi-monthly lo the Board of Tnlslees. The key risks and mili8aling actions are: R15k Depleiion of reserves arising from continuing op¢ralionJl deficits Mltl8lltlng Actloll$ - RestN¢Nring of th¢ stsff team Improved financial reporting Idenlifi¢aiion of new funding opportunities New H¢ad of R¢search and Evaluation recrnited Training of team to develop their skills Pay review to ensure compelilive salaries Improving linc management support available Cornprch¢nsiv¢ training and support offer CApacity lo deliver complex stral¢8ic projeds Staff turnover in a competitiv¢ environment The risk associated with developing a new strategy and re-branding were well managed and Ihe broadened focu5 of the newly merged organisation has been largely welcomed internally and externally by partners and stakeholders. Relationships with some of our key slakeholdeTS have been slfenglhened through the PTojecls d¢livercd and partnerships collaborations, however we continue lo focu5 on ihis as a priority ar¢a of risk management. Page 7 YMCA George Willlams Company (Registered number: 02978406) Reporl of the Trustees for the Year Knded 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02978406 (England and Wales) Reglstered Charity number 1044624 Reg15tered offlee 10 - I I Charterhouse Square London ECIM6EH Trusteey K Bendall {resi8ned 22J.23) K FrJnks D M Hatton M Houghion-Brown (Chair) Y 08und¢le (Chair of Finance) D M Paul Finance Direcior (resigned 30.4.24) N A SheTrin8h4m All governors are considerd to be independent 8overnor8. Chlef Exe¢uilve Offleer Beihia M¢Neil (on secondmenl as of January 2024) Interlm Chlef Executlve Offleer G¢¢ihika Jayatilak8 (appoi￿led January 2024) S¢ottl$h charlty number SC042186 Audltors Ward Goodm&n Audit Services Ltd 4 Cedar Park FerndOW￿ Industrial Esiate Wimborne Dorsei BH217SF Sollcltors Veale Wasbrou8h Viiards LLP 24 King William Streei London EC4R 9AT Bankers Natwesl. I l Thc PaTade, Canlerbury, Kent, CTI 2SQ Nationwide. Nationwide House. Pipers Way. Swindon SN38 INW Metro Bank, One Southampton Row, London WCJB SHA AUDITORS There will bc a ￿VieW of ihe xuditors prior to any appointment or re-appointment at ihe forthcoming Anftual Generdl M¢eting. Page 8 YMCA Ge•rF Wllllimj CompAny (Re%bter*d number: K978416) Report of the Truslees f(*r thè Yeir Efftd￿ 31 M*r¢h 2024 Re￿ of th¢ tnthee4 ineorporththig a 8troiegi¢ r¢por4 approved by order o(th¢ I￿rd o(Inute¢s, as Ihe company directors, and sI￿￿d on the board'i behalf by: air)- Tn￿¢¢¢ Page 9 YMCA George Wllllams Company Statement of Trustees, Responslbllltlej for the Year Ended 31 March 2024 The ttuslees (who aTC also the direclors of YMCA George Williams Company foT the purposes of company law) are responsible for preparing the Report of the Trustees and the financial 5talements in accorilance with applicable law and Unil¢d Kingdom Accounting Siandards (Uniled Kingdom Generally Accepted Accountlllg Praclice). Company law requires the tnL8lees lo prepa￿ financial slalemenls for each financial year which give a true and fair view of the stale of affairs of the chxritable company and of the incoming resources and application of resources. including the income and eXpendI￿re, of the charilable company for Ihal penod. In preparing those financial slalements, the Iruslees are required to select suitable accounting policies and then apply them eonsistenily. observe the methods and principles in ihe Charity SORP; make jud8¢menls and eslimate5 thal reasonable and prudenl. prepare Ihe financial slatemenls on the going concern basis unless it is inappTopriate lo presunK Ihal the charitabl¢ ¢ompAny will continue in business. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable aecuracy al any lime the rinancial p051tion of (he charitable company and to enable them lo ¢nsur¢ that th¢ financial slalem¢nls comply with the Compani¢$ Act 2006. They ale a150 rcsponsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevention and dete¢tion of fraud Aftd other irregularities. In so far as the Iruslees are aware.. Ihere is no rclcvanl audil information ofwhich Ihe charilable eompanls auditors are unawaie; And the Iruslees have taken all steps th81 (hey ou8ht to have laken to makc themselves awarc of any relevant audil infornwtion and lo establish that the audilors are aware of that infomiAlion. Page 10 Report of the Independent Audltors to the Memb¢r5 of YMCA George WS11iams Company OpSnlon We have audited ihe financial statements of YMCA George Williams Company (the 'charitable company,) for ihe year ended 31 March 2024 which comprise Ihe Statement of Financial Aclivilies. Ihe Balance Sheel. Ihe Cash Flow Sialement and notes to the financial statements. including a sumrnary of $i8nificant accounting policies. The financial reporting frarn¢work that has b¢¢n applied in th¢ir preparation is applicabl¢ law and United Kifftgdom Accounting Standards (United Kingdom Gene￿IlY Accepted Accounting Praclice). In our opinion lh¢ financial statemertls= give a true aftd fair view of the stale of the charitsble company's affair8 as at 31 March 2024 and of ils incoming resources and applicalion of r¢50urc¢s, in¢luding ils incomc and ¢xpcnditure, for th¢ year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wilh Ihe requiremenls of ihe Companies Act 2006. Bi$ls for oplnlon We conducled our audit in accordance with International Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibiliti¢s under Ihos¢ standards are fvrther described in th¢ Auditors, responsibilities for the audit of lh¢ financial slalemenls section of our report. We are independent of the charitable company in accordance with Ihe ethical requiremenls Ihdt are relevant 10 our audii of the financial statements in the UK. including the FRC'S Eihical Standard, and we have fuifill¢d our other ethic81 responsibilities in ac¢ordan¢e with Ihc5e ￿qUirements. We bclieve Ihal thc audii evidcnce we have obtained is sutTi¢ient and appropriate to provide a basis for our opinion. Conclu$long relatlng to golng eontern In audilin8 the financial 51atements, we have concluded thal the Ifuslees, use of the 80in8 concern basis of accountin8 in the preparation of the financial slatemenls is appropriate. Based on the work we have performed, we h&ve not identified ony material uncertainties relating lo events or conditions th81, individually or colle¢iively. may cast Slgnificanl doubl on the chaTiiable company's ability 10 continue as a 8oin8 eon¢ern for period of at least iwelve months from when the financi81 Siatcrncnts are auihorised for issue. Our responsibilities and the rcsponsibililie5 of the tn￿le¢S with respect lo goin8 concern are described in Ihe relevanl sections of this report. Other Inform*llon The Iruslees are responsible for the other infomiation. The other infonnalion ¢ompTi3es the information included in th¢ Annual Report, other Ihan the financial staiemenls And our R¢port of the Indepcndent Auditors Ih¢reon. Our opinion on Ihe financial slafyrnents does nol cover the other information and. except to Ihe exlenl otherwise expli¢illy staled in our report. we do not express any fomi of assurance ¢on¢lusion thereon. In connection wilh our audit of Ihe financial statements. our responsibility is to read the other infornialion and, in doing so, ¢onsider whether the other inf0m￿tion is materially inconsistent wilh the financial statements or our knowledge obtained in Ihe audit or otherwise appears lo be materially misslaled. If w¢ id¢nlify Such material in¢on5isl¢n¢ies or apparent mat¢ri?I mi5slatemenls. we are required lo delerniine whether this gives rise to a rnalerial misstatement in the flnancial slalemenls themselves. If, based on Ihe work we have perfonned, we conclude thal there is a material misstalement of Ihis other inforntstion. we are required (o report that fa¢1. We have noihing lo report in this rcgard. Oplnlong on other matters prescrlbed by the Companles Act 2(M)6 In our opinion. based on the work undertaken in the Cou￿¢ of Ihe audil.. Ihe infornialion given in the Report of ihe Trustees for the financial year for which Ihe financial stalemcnts are prepared is consis¢eni wilh the financial siaiements. and the Report of the Trusiees has been prepared in a¢cordAnce with applicable leg81 requirem¢nts. PaBell Report Of the Independent Audltorg to the Members Or YMCA G¢orge Willlams Company Matters on whieh we are requlred to report by excep¢lon n the lighi of Ihe knowledge and understanding of the charitable company and ils environmcnl obtained in the coursc of the audii. we hav¢ not idenlified material misslatemenls in the Report of ¢h¢ Truslees. We have nothing to report in respect of the following mallers where Ihe Compani¢s Acl 2006 requires us lo report to you if, in our opinion.. adequate attounling records ha￿ not bcen kept or rctUrn5 adcquale for our audit have not been ￿CeIVed from branches not visited by us,. or the financial 51alemenls are not in agrcemcnl with the ¥4ccounling records aThl returns: or certain disclosures of Irustees, remuneration specified by law are not made. or we have nol received all the infomiation and explanations we require for our audil. Responslb11511es of Irustees As explained rnore fully in the Siatemenl of Trustees, Responsibilities. Ihe Irustees (who are also the direclor5 of the charilable company for the purposes of company law) ar¢ responsible for the prepAr2lion of the financial slatements and for being satisfied that they 8ive a Irue and fair view. and for such internal control as the Iruslees detemiine 1$ neccssary lo enable Ihe Preparation of financial slalements Ihal are free from malcrial misstatemenl, whether due to fraud or error. In preparing the finAncial stalemenis. Ihe Irustees are responsible for assessing the chariiable Compangs Nbility to continue as a going concern, di*lvsing, as applirable, matters rclglcd 10 80ing Concern and using the going concern basis of accounting unless Ihe trusiees either intend ¢0 liquidate Ihe charitable company or lo cease operations, or have no realistic aliemative but to do so. Our responglbllltles (or the Audlt of lh¢ flngn¢lal $tatem¢nt$ Our objcclives are lo obtain reasonable assurance aboul whether the financial stat¢menls as 8 whole are free from rnat¢rial misslatemefti. wheiher due to ftaud or error. and 10 issue a Report of the Independent Audilots thai includes our opinion. Reasonable assurance is a high l¢v¢l of Jssurancc. but is not a guar4nlee thal an audit conducled in accordance with ISAS (UK) will always detecl a material misstalement when it exists. Missialements can arise from fraud or ettor and are considcffd malerial if. individually or in the a8grc8ate, they could reasonably be expecied lo influence the economic de¢isions of users taken on the basis of these financial slalemeftls. The exlenl to which our procedures are ¢8pabl¢ of delecling irregularities, including fraud is detailed below.. We obtained an understanding of ihe legal and regulaiory frAn*works appli¢able 10 Ihe Company and Ihe seeior in which they operate. We determined thai th¢ following laws and T¢gulation5 ￿re m051 si8nificant'. Ihe Companie5 Act 2006, the UK Corpor&le Governance CIMle 8nd UK corporAle taxation laws. We obtained an understanding of how Ihe company are complyin8 Wlth those legal and re8ulalory frameworks by making inquires to the management. We corroboraled our inquiries through our revicw ofboard minutes. We ass¢55￿ the susceplibility of the compan￿5 financial slatefflenls lo material misslatemenl, includin8 how fraud might occur. Audit procedures perfornied by the Audil engagement team included: Idenlifying and assessing the design effectiveness of controls management has in place lo prevent and deteci fraud. Understanding how Ih(vJe charged with governance considered and addressed the potential for overridc of controls or other inappropriate influence over the financial reporting proce￿, Challenging assumpti011s and judgnxnls made by management in ils significant accounling eslimotes. Ideniifying and testing journal enlries. in particular any journal entries posted with unusual account combinalions. Assessin8 ihe exleni of compliance with the relevant law and r¢8ulation5. A further description of our responsibilities for Ihe audil of the financial slalemenls is located on the Financial Reprtin8 Council's website at www.frc.org.uklaudiiorsresponsibilities. This descripiion forms part of our Report of Ihe Independent Auditors. Page 12 Report of the Independent Auditor$ to the Members Of YMCA George WIIIIAMS Company Use of our report This report is made solely to the chanlable company's members, as a body, in accordance with Ch8pteT 3 of Part 16 of the Companies Act 2006, Our audil work has been undertaken 50 that we might slat¢ lo th¢ charitable companl5 members ihose rnafters we are required lo stale to them tn an auditors, re￿rt and for no other purpose. To the fijllest exteni permitted by law, we do not accept or assume responsibility (o anyone other than Ihe chariiable company and the ehari18ble compan￿3 mem￿￿3 as a body, for our audit work. for ihis report. or for the opinions we hav¢ forn)ed. IM Rodd Bsc FCA FCCA (Senior Slatutory A￿￿110r) for and on behalf of W8rd Goodman Audit Services Lid 4 Cedar Pfirk Ferndown Indu$lrial Estate Wiml)orne Dorsel BH217SF D81e'. Page 13 YMCA George Wllllams Company St4tement of Flnantlal Acllvltles (In¢orpor#ling In¢ome and Expendifvre A¢¢ount) for the Year Ended 31 M&reh 2024 2024 Total fijnds 2023 Totil funds Unrestricted fvnds Resiricled fvnds Noles INCOME AND ENDOWMENTS FROM Donations and legacies 114.999 735,217 850.216 845.860 Ch*rltablt #cllvltles Learning & Education Research & Evalualion 18,731 249,840 18.731 532,876 283,036 228,073 Inveslment incomc Oiher incomc 15,175 43,379 15.175 43.379 6.754 18.51Kl TolAI 4S6.589 1,003,788 1.460.377 ,099,187 EXPENDITURE ON Raisin8 funds 8,215 8.215 1.221 ChirltAble aellvltl¢$ Learning & Education Re5Ciirch & Evaluaiion Operaiions & Support Governance 422,383 382.9¢X> 152.096 33.064 23,731 895.518 446,114 1.278.418 152.096 33,064 2,716 1.312,216 152,912 19.413 Total 998,658 919,249 1,917,907 1,488.478 NET INCOMEI(EXPENDITURE) Transfers between fund$ Other recognlsed gAlng1(los8eg) Actuarial gains on defined benefit schemes (542.069) (13,501) 84.539 13,501 (457.530) {389,291) 18 171,125 171,125 Net movement In funds (384,445) 98.040 (286,405) (389,291) RECONCILIATION OF FUNDS Total funds brou8hi forward 921.804 5,000 926.804 1,316,095 TOTAL FUNDS CARRIED FORWARD 537.359 103,040 640,399 926,804 The noles forni parl of these financial ststemenls Page 14 YMCA Ceorye Wllllimi Cowhy {R￿1￿#r¢￿ numb•r+ 029784116 BAlin¢• Sh¢ot JI M*r¢h 2024 2024 Tot•1 2023 Tothl furKIs l)nre8trScied fijnds R¢styicte4] runds FIXED ASSETS 14 9,944 10,187 CURRENT ASSETS D¢bio Cwh ot bpnk 15 181,439 687,162 57.685 48.408 239,124 735,570 132,951 1559J64 868.601 106,093 14 1.691315 CREDITORS Anw)wJts fallin8 due Hiihln ye 16 (245.330) (3,053) (248.389) (459.370) NET CURRENT ASSETS 623265 103,040 726,30S ,232.94S TOTAL ASSEIS LESS CURRENT LIABILITIES 633,209 103,04Q 736,249 1,243.132 CREDITORS Amou[￿ falllTh8 due after NK)re Ilwi one yw 17 (95.850) {9S,8SO) (316.328) NET ASSETS 537,359 103,040 640,399 926.804 FUNDS u1ye￿n¢ted knds Reslri¢i¢d funds S37,359 103,040 921.804 S,iJ]O TOTAL FUNDS 640,399 926,804 The tlnlncial St0￿Ments wtre 4pprov¢d by the Bothl Trf Tnth$ and •u¢knrised for Issue on and ￿re signed on its behaifby.. 2f?4d 2*r M HOu8h￿n￿BrOwn (Chali)- Trnsice Th¢ n￿eS forni part olthes¢ finoncial sial¢menls Pag¢ IS YMCA George w11llan￿ Company C8sh Flow Statement for th¢ Y¢*r Ended 31 MAr¢h 2024 2024 2023 Notes Cash tIowg from oper#tin8 *¢tlvltles Cash generated from operdiions Repaymeni of defined benefit pension (772.743) (60,971) (219.946) (52,229) Nct ¢a5h uxd in operaling activities (833,714) (272,17S) Clih flow$ from Investlng Aetlvltles Purcha5c of tangiblc fixed asscts nlerc5t received (5,2551 15,175 112,858) 6.754 Net cash provided byl(used in) investing activities 9.920 (6,104) Cbange In Cash And cash equlvalentg In the reporlln£ perlod CAsh And cAsh equlvalents 8t the beglnnlng ofihe reportlng perlod (823,794) (278.279) 1.559,364 1,837,643 Cash and ea$h equlvalentg at tbe end of the r¢portlng perlod 735,570 .559,364 The notes form part of these financial statemenls Page 16 YMCA George Wllll4m$ Company Notes to the CA$h Flow Slatemellt for the Ye4r Ended 31 March 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expendlture for the reportlng perlod (as per the Statement fjf Flnanclil Aetlvllles) Adjustments for: Depreciation ch&rges Loss on di5w>sal of fixed assets Interest reeeived Increase in debiors (Decrease)lincrease in creditors (457,530) (389,291) 4.973 525 (15.175) {106,172) (199.364) 2.003 ,107 {6,754) (1,032) 174,021 Net eash uied In operAtlonJ (772,743) (219,946) ANALYSIS OF CHANGLS IN NET FUNDS Ai 1.4.23 Cash flow At 31.3.24 Net ¢*$h Cash ot bank 1.559.364 (823.794) 735.570 1,559.364 (823,794) 735.570 Tolil 1,559.364 (823,794) 735,570 The notes forni parl of ihese financial staiements Pagc 17 YMCA George Wllliams Company Notes to the Flnanclal Statements for the Year Ended 31 MAreh 2024 LEGAL FORM NOTE Th¢ Charity is also a private company (No. 2978406), limited by guarantee and ￿gIStered in England and Wales. Each member is liable lo contribute a sum not exceedin8 £ l in the eveni of the company bein8 wound up. The addTCSS of the re8isleted offic¢ is 8iven in thc 'R¢fwcnce and adminislrJtive details, section of the Twstee5' Annual Report. ACCOUNTING POLICIES BASIS of preparlng the Ilnan¢lal slatemenls The financial Statements of Ihe charilable company, which is a public benefil entity under FRS 102. have bee prepared in accordance wilh Ihe Charities SORP IFRS 102) 'AccountinB and Reporlin8 by Charities= Statem¢nl of Recommended Practi¢e applicable 10 charities preparin8 their accounts irt accordanc¢ with the Financial Reporting Slandard applicable in the UK and Republi¢ of Ireland (FRS 102) (cffcctivc l January 2019),, Financial Reporting Siandard 102 'The Financial Reporting Standard applicable in the UK and Republie of Ireland. and the Companies Act 2006. Thc financial 51atcmcnls havc bccn prcparcd undcr the hislorical cost convcntion. Crltlcal wc¢oMnllng JUdge￿¢￿ti #nd key sour¢¢s ofe5dm8tlon uncert*lnty lrt the 8pplicalion of the compan￿S &ccounlin8 policies. the direeiors are required lo make judgernenls, eslimales and assumptions about the caThying amount of assets and liabilities that are nol readily apparenl from oihcr Sources. The e51imatcs aNI associated assumpiions arc based on historical experience and other f&ciors ihai are considered 10 be relevant. A¢OJal results may diffei from Ihese estimates. The estimate$ and underlying assumptions are reviewed on an ongoing basis. Revisions 10 accounting eslimaies are recognised in Ihe period in which the eslimate is revised whcre the revision affecls only ihal period, or in the period of Ihe revision and fvlure periods where Ihe revision affects both cur￿nt and fulure periods. In pr¢parin8 these financi81 slalements, the key jud8emenls and eslimales have been made in respect of ihe followin8'. Pcnsion schcme obligations.. The critical underlying a55UrnPtions in relalion to the cstimalc of the pension plan obligations such as re¢urn on assets. increases in pensions in paymeni And mortaliry. Variations in these assumptions hav¢ the ability to si8nificanily snfluence the value of the p¢nsion liability and the annual contributions required. - tkbt provision: Provisions for bad debt arc based on Ihe likelihood of recovery. Going ¢oncern: In li8hi of cutrent economic circumstances 4nd th¢ specific irnpacl on Ihe Colle8e's business the Govcrnors, havc paid particular attention to this matlcr. The asscssmcnl of Ihc College as a going concern relie5 on Ihe realisation of ￿tUrnS on asscls available lo the College and a business ￿￿de1 aft¢r the ¢UTrtnt teach out, In¢on All income is recognised in Ihe Stalement of Financial Activities once the charity has entitlcmenl lo the fund5, il is probable that the income will be received and ihe amount can be measured reliably. Grants ￿ceIVed as Restricted Funds, defined as Ihose which carry 8n Obli￿tIOn lo repay any sums not actyally spent, are brought irtlo the SOFA in the period of receipi and carried forward within Reslricled Funds until either spent or re￿nded. Legacies are accounted for when notification of legal enlitlemenl has been received. Deferred Ineome Where unconditional ¢nlit1￿Cnt to gTants r¢c¢iv4bl¢ and fees paid in adva￿¢ is d¢pendent upon fuifilment of conditions within the College's conlrol. the I￿omIng resources are recognised when there is sU￿1C]ent evidence thal conditions have been mel. Where there is uncerlainty as lo wheiher Ihe College has met such condilions or the fvnder elearly slaies that the ￿nd)rtg is for the nexi financial year. then the ineomittg Tesouree is deferred. Tuition fees are recognis￿ OVCT the duration of the course. fees Teceived in advance are accounied for in liabilities and released over the period of the course. Page 18 continued... YMCA George Wllllams Company Note$ to the Fln*ncl*l Statements- condnued for the Year Ended 3 l March 2024 ACCOUNTING POLICIES- eonllnued Expendlture Liabilities are recognised as expenditure as soon as there is 8 le8al or constructive obli881ion eommilling the charity to Ihat cxpenditurc. il is probable Ihal a transfer of economic benefits will be required in settlement and the amount of the obligation ¢Jn be measured reliably. ExpendiNrc is accounled for on an accruals basis and has been classified under headings Ihal aggregate all cost relaled 10 Ihe category. Where costs cannot be direcily attributed to particular headings they have been Allocated to Activities on a basis consistent wilh the usc of resource5, Grants off¢red subjcct to conditions which have T￿1 been met at the year e￿1 date are noted as a commitment bul not accrued as expenditure. Charltable actlvlrfes All costs are allocated between categories of the SOFA on a ￿51S designed lo refleci ihe of the resource. Costs relating 10 a partieulor aciivity are all¢Xaled directly or apportioned on an appropriate basis. Hollday ply Accrual A liability is re¢ognised lo th¢ exlenl of any unused holiday pay enliilemenl whi¢h has a¢crued at Ihe balance sheet date and carried fonvard lo fu￿re periods. This 18 ThKasurcd at Ihc undiscounl¢d salary cost of the holiday entitlement so aecrned al the balance sheet date. Tanglble lixed Assels All capital expenditure below £500 is wrillen off as and when it is in¢U￿¢d. Deprccialion is provided on all lan8ible fixed assets oiher than freehold land and buylding8, al rates calculated lo write off the cost, less estimated residual value. of each Asset evenly over its expected useful life, as follows.. Fillings and education equipment - Computer equipment- over 4 10 10 years oveT 3 yeaTS T*xAllon YMCA Geor8e Williams College is a registered charity within the meanin8 of para8fdph l of sch¢dul¢ 6 of the Finance Acl 2010. Accordingly it is exempt from tsMiion in respecl of income or capital gains within categories covered by chapter 3 of Parl I l of the Corporation Tax Act 201 O or S¢¢lion 256 of Ihe Taxalion of Chargeable Gains Act 1992, 10 the exlent Ihal such income or gains Are applied exclusively io ch8riiable purposes. No lax eh&rge arose in Ihe period. Fund #¢¢ountln8 Unrestricled ￿ndS can be used in accordance with ihe charitabl¢ obj¢ctivcs at the discrelion of the trusl¢c5, Rcstrictcd fvnds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by ihe donor or when fvnds Are raised for particular restricted purposes. Further explanation of th¢ nature and purpose of ¢ach fvnd is included in Ihe notes lo the financial slatements. Penslon tosts gnd other post-retlrement bèneflt$ The charitable company operates a defined contribution pension scheme. Contributions PAyable to the charitable company's pension scheme are charged to th¢ Staterncnt of Financial Aclivilies in the period io which Ihey relate. Page 19 continued... YMCA George W11114ms Company Notes to the Fln*nelil Statements - eontlnued for th¢ Ymr End¢d 31 March 2024 ACCOUNTING POLICIES - eontlnued Penslon costs and other pogt-retlrement benent5 Defined beneflt penglon scheme YMCA George Williams Company participaled in a mulii-employ¢r defined benefit pension plan for employ¢¢5 of YMCAS in England. Scotland and Wales, which was closed io new members and accruals on 30 April 2007. Due to insufficient information, Ihe plart's aduary has advised that it is not P05sibl¢ to separately idenlify the assets Jnd liabilities relating to YMCA George Williams Company. YMCA Geor8e Williams Company has 8 contractual obligation lo make pension deficit payThents over the period lo April 2027, accordingly Ihis is shown as a liability in nolcs 17 and 18 to thcsc accounts. In addition, YMCA Georgc Williams Company ig required lo contribute to the oper81in8 expenses of the Pension Plan and these costs are ¢h8rg¢d to Ihe Sialemenl of Financial A¢tivili¢s as nMd¢. Debtors Trade and olhei deblors are reco8nised al Ihe settlement amount due after any trade discount offered. Pr¢paymenls are valued 81 the amount prepaid nel of any trade discounts due. CAsh at BAnk and In hAnd Cash at bank and in hand include8 cash and short iemi highly liquid invesimenis wilh a $I￿ri malurity of three months or less from the dale of acquisition or openin8 of the deposit or similar account. Credllors and provljloni Creditors and provisions are reco8nised where the charity has a presenl obligalion wcsulting from a pasi evcnl Ihal will probably result in Ihe transfer of funds to A third party and the amount due 10 se¢lle Ihe obligation can be measured or estimated reliably. Creditors and provisions are nornially recognised al iheir settlemenl amount after allowing for any trade dis¢ounts du¢. Leases Inslallmenls under operatin8 lease agreements are charged lo the Statement of Financial A¢livilies a¢¢ounl in the year in which thcy arc incurred. RedundAn¢ley Redundoncies are paid to the employee ift the period in which they were let 80 by the entity. DONATIONS AND LEGACIES 2024 2023 Granls 850.216 845.860 Page 20 continued... YMCA Georg¢ Williams Company Notes to the Finanei*l StAtement$- ¢ontinued for the Ye*r Ended 31 Mar¢h 2024 DOIYA TIONS AND LEGACIES - contlnued Grants received. included in ihe above. are as follows: 2024 2023 Esmee Fairbaim Foundaiion Paul Hamlym Foundation Youth Futures Foundation Di8ilal. Culture. Media and Sport Co-op Foundalion Dulverlon tru51 NAlional Lollery Community Fund Pears Foundaiion Fidelity UK Foundalion Access - The Foundation for Social Inveslrnenl UK Youth BBC Children in Ne Youth Access Youn8 People's Foundation Tnjsl Greater Manchester Youih Network CEI Global UK Limited Gatsby YMCA Downslink Youn8 Westminsler Foundalion Rcnaisi Limited 87,500 123,266 54.154 298.939 41.667 16,667 88,065 75,000 64,958 56,899 139,667 58.698 301,251 41.667 16,667 94,059 6,660 10.000 11,880 40,(KJO 6,(K)O 3 5,757 3,333 8,470 12,177 2.675 850.216 845,860 INVESTMENT INCOME 2024 2023 Deposit account interest 15,175 6.754 Page21 continued... YMCA G¢org¢ Wlllloms Company Notes lo the Flnanclal Siydtements - eontlnued ror the Year Ended 31 March 2024 INCOME FROM CHARITABLE A￿1VITIEs 2024 2023 Aclivity Learning & Educalion Research & Evalualion Research & Evalualion Grants Contracts and fees Grants 18,731 283,036 249.840 228,073 $51.607 228.073 Grants received. included in the above. are as follows.. 2024 2023 National Lottery Community Fund Access - The Foundation for Social Investment Peer Power Young Pcoplds Foundalion T￿￿1 CEI Global UK Limited Social Invc5tmeni Bu$inus Lid Youth Endowment Fund Youn8 Manchester 50,003 126,724 3,531 15,000 71,513 1,5Crt) 200 268.571 RAISING FUNDS Other Iradlng 4ctlvltles 2024 2023 Events 8,215 ,221 CHARITABLE AcfiviTIES COSTS Grant funding of activilies {see note Support ¢0515 (see note 9) Direct Costs 8) Totsls Learning & Education Research & Evalualion Operations & Support Governance 444,145 1,106,480 94,920 1.470 170,762 26,150 499 ,176 31,026 33.064 446,114 ,278,418 152,096 33.064 1,645.545 198,382 65.765 1.909.692 Page 22 continu￿... YMCA George Wllllams Comp*ny Notes to the FlnanclAI Statements- eontlnued for the Year Ended 31 March 2024 GRANTS PAYABLE 2024 2023 Learning & Ed￿atIon Research & Evaluation Operations & Support 1,470 170.762 26.150 113.460 198,382 113,460 The iotsl Brants paid to inslilulions during Ihe year was as follows.. 2024 2023 National Youth A8ency UK Youih Youth F￿u$ North East Youth Focus Wesl Midland$ Ea51 & East Midlands Regional Youth Work Unil Yorkshire & Humbcr Regional Youih Work Unit Youih Focus North West Youth Scoilgnd RMD Adventure Learnin8 Pheonix Youth Youth Cymru Sandwell MBC City of DO￿aSter Coun¢il London Youth The Youth Ass0¢ialio Fusion Family and Youth Projects Youth of Fenland E5capc'. Community Art in Aclion The Kite Tru51 KICK Doncaster Children's University YMCA Heart of England Wan¥i¢kshire County Council Dol to Dot Ente￿ristS YMCA Central Young Lciceslershire 47,411 60.832 8,415 12,994 9,394 11.194 6.100 1,800 1.800 2,000 2,700 2,000 60,000 43.550 520 3,130 3,130 3,130 5.400 2,0(M) 2.0￿) 2.000 2,000 2,000 2,￿0 2,IXIO 2.000 4,422 120 1.800 198.382 113.460 Page 23 continued... YMCA George Wllllams Company i otes to the Finaneial Stitements- eontinued for the Year Ended 31 March 2024 SUPPORT COSTS Govemance costs Finance Oihcr Totals Learning & Educalion Research & Evkluation Operations & Support Governance 499 499 .176 31.026 33,064 16 31.026 33.064 1,659 31.042 33.064 65.765 io. NET INCOMEI(EXPENDITURE) Nel Incon￿1[CXFCndiIure) is slated after Chargin￿{CreditIng)'. 2024 2023 Audil fees Accountancy fees Depreciation . owned assets Deficit on disposal of fixed asscls 11,525 1,325 4.973 525 I I,( I,(h)o 2.￿3 ii. TRUSTEES, REMUNERATIOIY AIYD BEfiEFITS There were no trustees, remuneraiiort or olher benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Tru$teti' expen$t$ Durin8 the year ended 31 March 2024, one Iruslee received expenses for travel and accommodation totalling £551 (2023.. £280). 12. STAFF COSTS 2024 2023 Wa8e5 and salaries Social security costs Other ￿nsiOn costs 1.099.701 117,751 48,597 733.830 76,604 35,084 1,266,049 845.518 The avera8e monthly number of employees during the y¢ar was as follows.. 2024 24 2023 10 Head Count P88e 24 Onlin￿d... YMCA Geor2e Wfilllgms Company Notes to ihe Flnanelil Statements - tonilnued for lh¢ Year End¢d 31 March 2024 12. STAFF COSTS - contlnued The number of employees whose employee benefils (excluding employer pension cosls) ¢x¢eeded £60,¢XiO was: 2024 2023 £60.001- £70,IN)o £80.001- £90.0(K) £ioo,001-£i10,000 Members of key managemenl received amounts tolallin8 £273.197 for the year ended 31 March 2024 (2023.. £181.430). Th¢re were no redundancy costs recognised in the year ended 31 March 2024 (2023 . £nil). 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL A￿[VITIEs Unreslri¢led nds Restricted fijnds Tolal fiinds INCOME AND ENDOWMENTS FROM Donations and le8a¢ies 8J.655 760.205 845.860 Charl¢able aellvldes Research & Evaluglion 216,073 12,IKJO 228,073 Investment in¢ome Other income 6,754 18.SlXI 6,754 18,500 Total 326,982 772,205 1,099,187 EXPENDITURE ON Raisin8 funds ,221 1,221 Charltable actlvltleg Learning & Ed￿allOn Research & Evaluation Opcralions & Support Governance 2.716 482,616 152,912 19.413 2.716 1,312,216 152,912 19.413 829,600 Total 658.878 829,600 1.488.478 NET INCOMEI(EXPENDITURE> (331,896) (57,395) (389,291) RECONCILIATION OF FUNDS Total fund5 brought forward 1,253,7(Kl 62,395 1,316,095 TOTAL FUNDS CARRIED FORWARD 921.804 S.0(M) 926,804 Page 25 continued... YMCA George Williams Comparby Notes to the Finaneial Stalements - continued for the Year Ended JI March 2024 14. TANGIBLE FIXED ASSETS Flxtures and fitlings COST Ai l April 2023 Additions Disposals 18.660 5,255 (727) At 31 March 2024 23,188 DEPRECIATION Al l April 2023 Charge for year Eliminalcd on disposal 8,473 4,973 (202) Ai 31 March 2024 13,244 NET BOOK VALUE Ai 31 March 2024 9.944 At 31 March 2023 10,187 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debiors Oihcr dcbtors Prepayments and accTued income 114,982 100 124,042 75.436 57.513 239,124 132,951 Page 26 continued... YMCA G¢orge William5 Company Noles to lh¢ Flnancial SIAtements- conlinued for ibe Year Ended 31 March 2024 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade Creditors Social security and other taxes VAT Other creditors Pension obligations Accruals and deferred income 37,626 31.945 39,298 5,800 49.810 83.910 79.851 26,294 17,005 59,723 61.428 215,069 248,389 459,370 Included wiihin accruals ond def¢rTed incomc are multi year grants tied lo the delivery of specifi¢ ouieomes and would nccd ￿ be repaid 10 ihe provider of fvnds if lh¢ oulcom¢s ar¢ not delivered. 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Pensions obligations 95,850 316,328 18. MOVEMENT IN FUNDS Nel M0ven￿nI in ￿ndS Transfers bclween fvnds At 31.3.24 At 1.4.23 Unrestrlcted furndi General fund Pension Reserve 1,299,560 (377,756) (603,040) 232.096 (13,501) 683,019 (145,660) 921,804 {370.944) (13.501) 537,359 Rt$trl¢ted funds EDP Alumni Nelwork Data Ecosystem DCMS Projects Local Youth Capacity Fidelity UK Foundation Cenire for Youth Voice 10,157 47,394 (13.501) (5,000) 20,540 24,949 10,157 47,394 13,501 20.540 24,949 5,000 84,539 13,501 103.040 TOTAL FUNDS 926,804 (286,405) 640,399 Pa8c 27 ontinued... YMCA Gtorge Wllllams Company Notes to ihe Fln#nclal StAtements- eonllThued lor th¢ Y¢4r Endcd 31 M&r¢h 2024 MOVEMENT IN FUNDS- ¢ontfinued Nei ft￿VeMent in fvnds, included in the above arc as follows: IncominB resources Resources expended Gains and losses Movemenl in funds Unreslrlcted fund5 Gencfal fund Pension ReseTre 456.589 {1,059.629) 60.971 (603.040) 232.096 171,125 456,589 (998,658) 171.125 (370.944) Restrlcted funds EDP Alumni Network Data Ecosystem DCMS PTojecls YEF Muliisiie Trials E4P Loc&1 Youth Capacity CEI DOYW Fidelity UK Foundation Ccnlrc for Youth Voic¢ Peer Power Theory of Change 128.224 317,166 298,939 28,938 54,154 (118.067) (269,772) (312,440) (28,938) (54.154) (5,000) (42.675) (44,418) (25.054) (3.5311 (I S.200) 10,157 47,394 (13.501) (5,0(KJ) 42.675 64,958 50,(KI3 3,531 15.200 20,540 24,949 1,003,788 (919,249) 84,539 TOTAL FUNDS 1.460,377 (1.917,907) 171.125 (286,405} Comparatlve5 for nM)vernent In fund$ Net movement in funds Ai 1.4.22 31.3.23 Unrestrlcted funds General ￿nd Pension Reserve 1,683,685 {429.985) 1384.125) 52.229 1,299,560 (377.7S6) .253.700 1331.896) 921,804 Restrlcled funds Essex Boys and Girls ClublErasmus Youth voice, influence and power Mulii-site trial of rn¢nlOTing Local Youth Capacity 2.692 47,560 12,143 (2,692) (47.560) (12.1431 5.000 5.000 62,395 (57.395) 5.000 TOTAL FUNDS 1,316,095 {389,291) 926.804 P38¢ 28 ontinued... YMCA George Wllllam$ Company Notes to the Flnanelal Statements- contlnued for the Year Ended 31 March 2024 18. MOVEMENT IN FUNDS- eont5nued Comparalive nel movement in fund& included in the above are as follows: Incoming r¢50urc Resources cxpended Movement in funds Unreslrleted funds General fvnd Pension Reserve 326,982 (711.107) 52.229 (384,125) 52.229 326.982 (658,878) (331.896) Restrlcted funds Essex Boys and Girls clU￿rasMuS Youth voice, influence and power Mulii-sile trial of mentoring EDP Alumni Nelwork Dala Ecosyslem DCMS Projecls EIC Coordination Altog¢iher Bell¢r E4P Local Youth Capacity Chestcr Zoo (2.692) (72,560) (47.900) (94,059) (156,900) (351,251) 16.660) (11.880) (58,698) (15,OIKI) (12,000) (2,692) (47,560) (12.143) 25,000 35.757 94,059 156.900 351,251 6,660 11.880 58.698 20,000 12,¢XIO 5,000 772,205 (829,600) (57,395) TOTAL FUNDS 1,099,187 (1.488.478> (389.291) Essex Boys And Clrls ClublErAsmus A five naiion project involving Ihe generation and evaluation of a bu8h¢raft lool-kil to develop non-fomial outdoor ¢ducatioft practice. Youth volce, Influenee And power Granl ￿ndirt8 from the PAUI Hamlyn Foundation and BBC Children in Need lo map and extend the r¢a¢h of activity enabling young p¢opl¢ to hav¢ a voice in d￿ls1On rn8king, in¢ludin8 creating a di8ilal platforni for the annual Make Your Mark vole. Multl-slle trlal of mentorlng Grant funding for an innovalive mulli-siie randomised control trial of a Shar￿ mentorin8 model acro&$ 17 youth organi5ation$ in England and WAle$. EDP Alumnl Nelwork To provide a co-ordinalcd package of support for Access the Social Jnveslmenl Foundation and ils partners in developing. leslin8 and deliverin8 ils enlerprise developmenl programrne with the youth sector in En8land. Dat4 Eco$y$t¢m To support those w)rking with and for young people io gaiher, access, understand and learn from a shared evidence base of high quality, robust impact data thus supporting sustainable inve51mcnt and slrcn8th¢nin8 infrastruc￿￿ by mobilising and inforniing fvndcr collaboration. Page 29 continued... YMCA George Wllllams Company Notes to the Flnxncial Statements - eontlnued for the Ye4r Ended 31 M8r¢h 2024 MOVEMENT IIY FUNDS- eontlnued DCMS Projeets To rcfine our impact mea8urem¢nl tools and resour¢¢s lo make ihem accessible lo a broad range of audiences on our new Measuremeni Hub, to deliver capacity building support lo help youth seclor organisations across En8land use the nKasure4 and lo develop our Youth Inwact Portal to facilitat¢ data collection, collation and visualisation. YEF Mul(l$lte Trlals Grant ￿ndIng for an innovative multl-5il¢ randomiscd ¢onlrol IriMI of A shared mentorin8 model across 17 youth orgartisalions in England and Wales. E4P To explore elTeclive ways for youth organisalions to collect and leverage d¢mogrAphi¢ dala in an equitable, lrnum8, gender. and culturally infornKd way and to improve undetstanding around Ihe eolleclion of data and data lilera¢y. Lfj¢41 Youth CAp*elty To support the pilot areas idenlified with tools, guidanc¢ and resou￿¢$ and to develop a ftamework And diagnostic to)1 with the pilot areas to evaluate existin8 OPPOrtunilies and any subsequent resource needs lo provide a ￿tter understanding of the quality of activities delivered thTou8h Local Youth Partnerships. CEI DOYW To assess Ihe fca5ibility of ¢valualin8 the impact of Detached and Outreach Youth Work (DOYW) on the risk of young p¢opl¢ becoming involved in Viole￿e. Fldellty UK FoundAllon To build organisalional capacity by fuThlin8 a new Head of R¢scarch and Evaluation role and conlribuling towards a Head of Finance role. Centre for Youth Volce To provide a comprehensive suiie of evidenee-inftlrmed networkin8, resources and cap8¢ity buildin8 SUPPOrt on youth voice practices. Peer Power Development and Delivery of training for Peer Power Peer TTaineTS and Leaders who will then work with young people from Peer Power lo develop and deliver Ihe Emp31hy Involvement Framework. Theory of Change To test and embed the College's partnership framework into th¢ support offer for Local Youih Paffnerships (LYPS). $upportiftg emerBin8 LYPS with theory of chan8e development. crealing online re50urce5 for MEL 8uidance for LYPS, and ensuring LYPS have supported a¢ees$ to the College's range of iools. Ifaining, and resowces. Page 30 continued... YMCA George Wllli*ms CompAny Notes to the Flnanclal St*tement$- tODtlnued ror the Yeydr Ended 31 March 2024 19. EMPLOYEE BENEFIT OBLIGATIONS YMCA George WillianL8 College participated in a contributory pension plan pmviding defined benefils based on final pensionable pay for employees of YMCAS in England. Scotland and Wales. The assets of the YMCA Pension Plan are held separalely from thosc of the College and at year