crry OF BRADFORD Y.M.CA. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company Reglstratlon No. 02995811 (England and Wales) Charlty Registrallon No. 1045373 •ADIDA7OB• 2011212024 COMPANIES HOUSE . #264
CITY OF BRADFORD Y.M.C.A. LEGALAND ADMINISTRATIVE INFORMATION Trustee8 Pastor J Aderetl Mrs K J Smith Mr R G Clark Mrs C J E Murie (resigned 24 May 2024) S•cr•tary Miss L Ashv40rth Chalr Person Mr R G Clark Charlty number 1045373 Company numb•r 02995811 Prlnclpal addrnss Culture Fusion Building 125 Thomlon Road Bradford West Yorkshire BD1 2EP Ragl8tered offlce Culture Fusion Building 125 Thomton Road 8radford West Yorkshire 8D12EP Audltor Champion Accountants LLP 1 Worsl8y Court High Street Worsley Manchester M28 3NJ Bank•r• Unlty Trust Bank plc Nine Brindley Place Bimingham B12HB
CITY OF BRADFORD Y.M.C.A. CONTENTS Page Trustees, report stst8m8nt of tnjstees, responsibilmles Ind8p8nd8nt auditorfs report 8-10 Statement of flnanclal actlvltle8 11 Balance sheet 12 Slatemont of cash flows 13 Notes to the Ilnanclal statements 14-28
CITY OF BRADFORD Y.M.C.A. TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees pres8nt thelr annual report and financial statements for thé year 8nd8d 31 March 2024. The financial statements hav8 been prepared in accordance with the ac¢ountlng policies set out In note 1 to th8 financial stat8rnents and comply with the chantys goveming document, the Companies Act 2006, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic oi Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Objecllves and actlvltles The chanty is part of a worldwide. Inclusive Chrlstian movement which stands for: Awoddwld8 fellowship based on the equal value ol all persons. Respect and freedom for all. Tolerance and understanding between pèopl8 of drfferent opinions. Activ8 concem for the needs of the communlty, and a unlted effort by Christlans of different traditlons. The charity works with people of other religious faiths arKI those of none to transfomi communities so that all young people can truly belong, contribute and thrive. Our mission is to help chlldren and young people live happler, more fulfilled and successful lives, worklng both wlth them and partners to Improve incluslon and ¢oheslon across our home city of Bradford. Strategic Objectives The organisation 1$ contlnuing to work towards the five-y8ar Strategic Objectlves revlevKd In 2023: Increasing our Impact - making Sure that year on year we will change and enhance more Ilves with focus on young people Extending our Influence - Ensurlng we have an inbluence over our future as an organlsatlon and the service our communities receive. Worklng Together 8etter - to berne the most effe¢tlve organisallon we can be. Sustainability - creating a solid fjnancial foundation that will support the future development and growth of the organlsauon. Publle B•n•flt . In planning activltles lo meet the alms and mission of the charity. the Directors have given careful consideration to the Charity Commission'5 general guidance on Public Benefil. The charity's primary purpose Ss to provide servlces. support and aclivities to children and young people, and esp8cl81ty to those who are most in need. This contributes both directly and indirectly to the public good, improving the wellbeing and prospects of the young people themselves, while benefiting the wider communities as young people become more actwe cltlzens and themselves contribute to community life. The activities undertaken in order to achieve thls Include: Providing infomial education and training opportunities, such as personal developmenl and life-skills programmes leading lo fomial accreditslion. These are particularfy targeted at those not in employment. educatlon or tralnlng. Helping young people to participate fully in thelr communities. for example through volunteering activity and projects which improve Ihe local environment. Helping young people lo avoid exploitation and Crime, by engaglng Ihose In positive. socialty Incluslve activities and building confidence and resilience. Offering outdoor leaming and environmental opportunities - such as the wildlrfe and conserrfation activity managed through our BEES environmental department.
CITY OF BRADFORD Y.M.C.A. TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Achlevem•nts and perfomian¢e This past year ha5 been Challenging for many. with tha ongoing inflationary pressures and rlslng cost of lfvlng Impactlng those we seek to support the need lor our seniices remalns high. Our focus since the pandemic has bean on ensuring financial viability to ènable US to respond to the needs of the children. young people. families and community we seN8 through our programme of activity. Through successful manging finances through this challenging period we have been able to both conllnua and expand our work to reach more people and achieve a real differonce in thelr Ilves through our broad range of programmes. Chlldr•n. Young P•opl• and Famlll•s Programm•$ Famlly work increas•d throughout tha pandemic as we responded to the local needs in a holistic whole family approach. This year saw our work wlth families contlnu8 to Increase through both our Supporting Families and Famlly Ald8 programmes. In 2023-24 we supported 111 lamilies including 277 chlldren through a keyworker model providing targeted earty help to support famllles overcome challenges such as school attendance and educatlon, housing. employ8bility, mental and physical health. We supported a further 82 families including 214 chlldren through our Family Aide work by providing hands on practical support to families who already have lead practitioner. Our Holiday Activity Fund (HAF) scheme ran in Easter and summer school holidays providing posltive activi8$ for 18 young people alongslde healthy food for free school meals ellglble chlldren durlng the school holldays. Youth progrnmm•$ Our two mentorlng programmes that launched durlng the pandemic have continued to grow and devalop post pandemic with a focus on emotional health and wellbeing for mentors and mentees. With thanks to the tim8 and dedlcation of our volunteer mentors, 25 girls a year received one2one mentoring 8UPPOrt through the natlonal Y's Glrfs programme. The programme supports girls aged 9-14 who are at rfsk ol developing mild lo moderate mental health difficultles by engaging thom in a range of positive youth a¢llvities and one2one mentorlng. Our gender-based work has been further supported by our youth group activlties and d8velopment of a youth ambassador programme. Changing Futures Peer Mentoring was extended for a third year, The pro9ramme offers youth led emotional wellbelng and mental health mentorin9 & support for students making the transition from primary to secondary school. Over the three year pertod the prolect supported 185 Youth Peer Mentors who dellver8d rnentorlng to dellvered peer mentoring 309 young people going through a school transition. A further 9000 young people benefitted from youth led social actlon initiatlves such as anti.bullying assemblles, workshops and Tea Talks In school and community settings. Shaping Futures Funding enabled us to extend this model to 22 young people who were not In full time education, training or employment INEET) providing social action opportunities aimed at bulldlng skills and confidence to help them re-enter educatlon, employment or tralnlng. Our young people's counselling service supported 18 young people by providing weekly therapeutic support by a trained counsellor. Shaping Future5 NEET mentoring provided further opportunities 8radlord Envlronm•ntal Educatlon S•rvlc•s (BEES) Our Conservatlon Volunteer group and Wildlif8 Fleld vlslts remaln a cor8 part of our Envlronmental Programme. During this year we delivered 43 conservation volunteer days supported by 116 volunteers. 33 Wildlife field visit trips took place to Bradford Wildlife Area5 and other wildlife sites supporting wilh leaming. In our final year of three-year fvnding through the Emest Cook Trust our Envlronmental Education team delivered 22 sessions supporting Over 800 chlldren and young people through environmental education sesslons in local schools. college and community groups.
CITY OF BRADFORD Y.M.C.A. TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our Annual Appl8 day celebration held at our Community Orchard was able to njn as normal again this year. With conlSnued thanks to our volunteers who support wlth all aspects of the evont We SUCCossfully welcomed approximately 350 people throughout the day. In 2023 we ware awarded funding from the National Lottery Community Foundation for our Greening Communitles project. Greening Communities development has been led by participants on our BEES programmes recognising the addltional Impact outdoor environmental activities and connecting wlth nature have on their health and wellbeing. Alongside this are skills development opportunities and climate change InitiatNes helping to support healthy communities through improving the natural environment. YMCA Culturo Fu8lon Our stralegy to manag8 th8 increased costs of operation h8s b88n to maximlse occupation incomg and r6du¢e energy costs through reduced energy consumptlon and improved efficiencies to ensure the Centre remalns viable. Unfortunately, In May 2023 we suffered a signific4nt leak whlch resultlng in extensive water damage to the new build extension side of the building and resulting In temporary dosure due to health and safety- The team pulled together to enable us to becorne operational on site Sn lust weeks once services had been safely restored and alongside a programme of r8fvrblshm8nt managed alongside 8errfices rèsuming. We are very grateful to all teams involved for their understanding and flexibility durlng thls period, systems developed in the pandemic to support remote working and priorltlslng front lin8 delivery were able to be implemented quickly reducing impact wherever polb18. The Centre conlinues lo op8rat8 as a multi partner hub spanning communlty, health and education sectors. Culture Fuslon represents a non territorial safe space in the City Centre vthich is the base for many services and activities comprising NHS Early lntep48ntlon servlc, Focus Autism Support, New Choices, Youth SeNices, Bradford Nlghtstop and Bradford Collega. September 2023 saw an expansion of Bradford College New Directlon Leaming altemative provision at Culture Fusion. with College expanding the numbers of young peop18 SUPPOrted on site through expanslon of room hire creallno a specialist environment at Cultura Fuslon. Leamers 8r8 abl8 lo participate In taster sessions in thelr chosen career, improve Ilteracy and numeracy and develop personal and soclal skills. Fln4n¢l•l r•vl•w The results for the year show a deficlt of £117.912 (2023: £127,774 as rastated) bofore pension scheme obligation movements. There Is a surplus on the defined benefit pension scheme obligation of £2.880 (2023: deficit £2,584) and the net deficit movement In funds of £115.032 {2023: £130,358 as restated) has been deducted from th8 balances brought foard. Total funds of £5.281,150 (2023.. £5.396.182 as restated) have been carried forard to next year. These comprise unrestricted funds of £559,457 (2023.. £543.239 as restated} and restricted funds of £4,721.693 {2023'. £4.825,943}. The prlor year reseNes have been reduced by £46.939 in respect of an under provision for utility costs. vthi¢h materially affected th8 results for that year. The trustses have contlnued to source new fvnding and keep close control over expenditure during the year. They have started the new ffinancial year In a better position than last. due new longer tem funding and licen¢e agreements. Whilst there are still some uncertainties around rising energy costs and inflationary pressures, close monitoring of expenditure through the provision of up to date management infom)ation, enables them to be confKlent Ihat the charlty can continue to operate as a golng concern.
CITY OF BRADFORD Y.M.C.A. TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The reserves pollcy was reviewed in 2022123 takin9 into account inflationary pressures and increased energy costs. It is the policy of the charity that unrestricted funds which have not been d85ignated for a specific use should be maintained at a 18V81 equivalent to at least three month's budgeted exp8ndrture which amounts to £300,000. The truste8s considers that reserves at this level will 8nsur8 that, in the event of a significant drop in funding. they wlll be abl8 to continue the charity5 current activities while consideration is given to ways in vthich additional funds may be ralsed. This level of reserrfes has been maintsined throughout the year. A restricted reserve has been created for the express purpose of compensating the depreciation on the Culture Fusion building, th8 Cost of which is shown as a Long Leasehold Improvement. The directors consider that the figures stated in these accounts are not unreasonable. The Culture Fusion propety is being depreciated over a 50 year period. The YMCA has undertaken an ethical stance on the type of investrnents that are held, The Board has in placè a rfsk management process to assess business résks and implement risk management strategies. This involves identifying the typ8s of rlsks the charity faces. priorilising them In lem)s of potentlal Impact and Ilkollhood of occurr8n&g, and identifying means of managing the rlsks. The principle risks and uncertainties are loss of regular funding from ben8ficlary bodies and organisations. As a govemance issue, a dedine in confidence in belng able to provide expect8d18vels of service by partners would present an identifiable risk. This Is counteracted by the provision of regular réviews of income and fundlng Including dialogue wlth beneficiary bodies on an ongoing basis. Such ongolng dialogue Is also used lo highlight any potential problems with programmes at an operational level and thereby attempt to mlnlmise the rlsk of competition from slrnllar local organisations to run èxisting programmes. Operatlons are sourced without bank overdraft and loan facilities and thereby elimlnating a large area of financial risk. Olh•r Poll¢l•• Thg City of 8radford YMCA has Implemented a number of detaS18d policles In relation to personnel and other matters. These Include Equal Opportun5ties and Dtvers5ty, Health & Safety, Safeguardlng Chlldren & Young People and has recently undertaken a Section 11 Safeguardlng Self-Assessment. Full details of these and other policies are available at the charity's registered office. GOV•man Co•1• Goveman¢e cosls ar8 the costs assoclaled wlth the governance arrangement5 of the Charity which relate to the general runnlng of the Charfjty as opposed to those costs assocSated with fundraising or charitable activity. Included within this calegory are costs associated with the strategic as opposed to the day-to-day management of the Charltys actlvltl8S. Details of the actual govemance costs incurred are included In Note 8 to the accounts.
CITY OF BRADFORD Y.M.C.A. TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Plans lor th• futur• Our development strategy rèviewed post pandemic remains relevant to our aims now. YMCA Bradford aims to... Continue to develop our children, young people and family programmes in response to emerging needs of the pandemic and cost of livlng crfsis, ensuring that the YMCA Mission remains at the forefront of our work. Implement a fvnding strat8gy to support our ongoing Youth Pmgrammes. Oevelop our BEES Environmental programmes including exploring opportunities to utilise outdoor green spaces for the benefit of emotional h8allh and well-being including loneliness and social isolation. Review the business model of YMCA Culture Fusion considering long term consumer behaviours relating to office use and meeting spaces. Explore capltal improvements to our premlses and company vehlcla to reduce ongoing runnlng Costs and improve our environmental impact. Develop new partnerships and opportunities to further the work of the YMCA. The Board recognlse the contlnued challenges of the last 12 months operatlng In a contlnu8d dmcult economSc environment. Through robust risk management of energy consumption alongside income maximisation the YMCA has been able to rniligate the impact of increased costs and contlnue to expand our programmes of 8UPPOrt delivering the YMCA'S Mlsslon. It Is the Boards bellef that due to tha actions taken along with its financial reserrfes the Charlty remains a going concem. Structur•i govornan¢• •nd manag•m•nt City ol Bradford YMCA was founded on 1 June 1857 and was incorporated by guarantee on 29 November 1994. It has no share capital and is a registered charity. The governing document is the Memorandum and Articles of Assoclation of the company and members ol the Board of Trustees are Dlrectors of tha company. The guaranleo ol eath member Is Ilmlted to £1. City of Bradford YMCA Ss an Independent asswalion but is linked to the YMCA Movement In England by means of affiliation. The business of the charity is governed by the Board ol Directors which comprlses o maximum 0115 people, who together are responsible for th8 Strategic direction and oversight of the management of all the affairs of the charity. The trustees, ar8 also the directors for tho purpos• of company law. and who served durln9 the year and up to the date of signature of the financial statements were: Pastor J Adereti MrsCJEMurie Mrs K J Smlth Mr R G Clark (Resigned 24 May 2024) The ¢ruItm0nt and appolntment of new dlrectors Is18d by the Board of Directors, whlch Identlfies the skills. experience and knowledge required from new directors by considering the collective skill profile of the Current Board. Potential candidates are recommended for consideration by Board directors and appointed by resolution at a meeting of the Board. Upon appointment each director signs a code of ndUct and completes a register of intérests. New directors are given an induction pack vthich indudes the charlty's governing document as well as relevant strategic and operalional documents. Through a meeting wlth the Chair and Senior Manager they a briefed on their responsibilities and obligations and provided with relevanl Charity Commission guidance and documentation.
CITY OF BRADFORD Y.M.C.A. TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 board meets at least four times a year and delegate the day to day management of the City of Bradford YMCA to the CEO. Leanne Ashworth. The delegatlon of financial authority to the senior staff, with specified lirnits imposed within a written scheme of delegation. continues as before. Central Support seNices such as Business Development, Management Accounts, Flnance, HR and Health and Safety are delivered through a Serrfic8 Level Agreement with Fde Coast YMCA vthlch tho Board revlew8 annually. Staff salaries are reviewed annually against industy standards and affordabllity. $1 of living awards are approved by the Board of D1CtOrS by the 1st Aprfl each year. The directors are satisfied that appropriate protectlon, systems and chocks remaln in place In order to mltlgate exposure to major rfsk, wlth th8 risks to which the charlty Is exposed being reviewed on an ongoing basls. Audltor In accordance with the companV$ articles, a resolutlon proposing that Champion Accountants LLP be r8appoint8d as auditor of the company wlll be Put at a General M88ting. Dl•elosurn of Inforniatlon to audltor Each of the trustees has confimed that there Is no information of which they are aware whlch Ss relevant to the audit. but of which the auditor is unaware. They have fijrther confinned that they have taken appropriate steps to Identify such rel8vant infomiation and to establish that the auditor18 aware of such Inforniatlon. The trustees, report was approved by the Board of Truste8S. Mr R G Clark Truslee
CITY OF BRADFORD Y.M.C.A. STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also the directors ol Clty of Bradford Y.M.C.A. for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Skndards (United Kingdom Generally Accepted Accounting Practi). Company law requlres the trustees to prepare financlal sklements for each financial year which givo a true and fair view of the state of affairs of the charity and of the incoming resources and applicats'on of resources, Including the income and expenditure, of the charitable company for that year. In preparing these financial statements. the trustees are required to: select 5Ultable accounting policies and then apply them consistently; observe the methods and prin¢ipl8s in the Charities SORP., - make judgements and estimates that are reasonabl8 and prudent,, slate whether applicable UK Accounting Standards have been followed, subject to any material departures dlsdosed and explained in the financial statements,. and prepare the financial statemants on the golng concern basls unless It18 Inapproprlate to presume that the charlty will continue in operats'on. The Iru$tees are responslble for keeplng adequate accounting records that dlsclose wlth reasonable accuracy at any tlme the finanal posillon of the charity and enabl8 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 detecllon of fraud and other Irregularitles.
CITY OF BRADFORD Y.M.C.A. INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CITY OF BRADFORD Y.M.C.A. Oplnlon We have audited the financial statements of City o18radford Y.M.C.A. (the 'charity') for the year ended 31 March 2024 lch compris8 the ststement of flnanclal activities. the balanc8 sheet, the statement of cash flows and notes to the financial statements. Including signrficant accounting policiès. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, induding Financlal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and R&public of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements: give a true and falr view of the state of the charitable company's affairs as at 31 March 2024 and of Its incoming resources and application of rasources, including its income and expenditure. lor the year Ih8n ended: have been properly prepared In accordance wlth Unlted Klngdom Generally Accepted Accountlng Pradce; and have been prepared in accordance with the requirements of the Companles Act 2008. Ba818 for oplnlon We conducted our audlt In accordance wlth Intemational Standards an Audltlng (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fvrther described in the Auditors responsibilities for tha audit ol the financial stat8m6nts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audlt evldence we have obtsined is sufficient and approprlate to provlde a basis for our opinion. Conclu8lon• r•latlng to golng ¢on¢•m In auditing the financial statements, we have concluded that the trustaes, use of the going concem basls ol accounting in the preparatlon of th8 financlal statements is appropriate. Based on the work we have performed. we have r)ot identified any material uncertalntles relaling to events or condltlons that. individually or collectively, may G8St sSgniflcant doubt on the charity's ability to continue as a going concern for a perfod of at least twelve months from when the financial statements ar8 authoris8d for issue. Our responsibilities and tha responsibilities of the trustees with respect to going concern ar• described in the relevant sectlons of this report. Oth•r Inlorniallon The other infomiatlon comprlses the inlomalion included In the annual report other than the financlal statements and our audilorfs report thereon. The Irustees are responsible for the other infomalion contalned within the annual report. Our opinion on the financial statements does not COV8r the other inforTnation and. except to the extent otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion thereon. Our responsibility is to read the other infomiatlon and, in doing so, consider whether the other Infomation is materially Inconsistent with the financlal statements or our knowledge obtained in the course of the audit. or othepwlse appears to be materlally misstated. If w8 identify such material inconsistencies or apparent materlal misstatements, we are required to delemine vthether this gives rise to a material misstatement in the financial statements themselves. If. basèd on the work we have perfonned. we conclude that the is a material misstatement of this other infonnation. we ar8 required to r8PQrt that fact. We have nothlng to report In this regard. Oplnlons on other matters prescrlbed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audit.. the infonnation given in the trustees, report for the financial year for whith the financial statements are prepared, which indudes the director5, report prepared for the purposes of company law. is consistent the financial statements: and the directors, report included within the trustees, report has been pr8par8d in accordance with applicable legal requirements.
CITY OF BRADFORD Y.M.C.A. INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CITY OF BRADFORD Y.M.C. Matters on whlch wo arè requlred to rnport by •xceptlon In the light of the knowledge and understanding of th8 chanty and its environment obtained in the course of the audit. we hav8 not identified material misstatements in the directors, report included within the trustees, report. We have nothlng to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting e0rd$ have not been kept, or retums adequata for our audlt have not been received from branches not vlslted by us: or the financial statements aré not in agr88ment wlth the accounting records and r8tums', or certain disdosures of truste8s' remuneration specified by law ar8 not made., or we have not received all the Infomatlon and explanations we require for our audlt. or the trustees weré not entitled to pr6par8 thè financial statements in accordance wilh the small companies regim8 and take advantagè of the small companles. exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Respon¥lbllltle8 of trustees As explained more lully In the statement ol truste8s' responsibilities, the trustees. who are also the dlrectors of the charity for the purpose of company law, ara responslblo for the preparatlon of the financial statements and for being 8atlslled that they give a true and falr view, and for such Inlemal control as the trustees detennlne is necessary to enable the preparation of financial statements that are free from materlal misstatement. whether due to fraud or error. In preparing the financial statements, tho trustees are responsible for assessing the charitys ability to continua as a going concern, dlsclosing, as applScable, matters related to going nCern and using the going concern basis ol accountlng unles5 the trustees elther Intend to liquldate the charftable company or to cease operations. or have no realistic alternative but to do so. Audltorf• r•8pon8lbllltl•8 lor th• audlt of th• flnanclal •tat•ment• Our objectives are to obtsln reasonable assurance about whether tha financlal stat8ments as B whole are free from material misstatement. whether due to fraud or error, and to Issue an audltorfs 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) w511 always detect a mal8dal misslatement when It exlsls. Misstatements can 8rise 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 laken on the basis of these financial statements. The extent to vthlch our procedures arn capable of detecllThJ Irregularltle8, Induding Iraud. Is delalled below. As part of our planning process: we enquired of management the 8yStems and controls the company has In place. the areas of the financial slalements that ar8 mostly susc8Ptibl8 to the risk of Srr8gularilies and fraud. and wh8ther ther8 was any known. suspected or alleged fraud. Management did not infomi us of any known. suspected or alleged fraud. - We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant Charities SORP FRS 102, and the Companies Act 2006. We consid8f8d the Inc8ntiV8s and opportunitles that exist in the company. including the extent of management blas, whlch present a potential for irregularities and fraud to be perpetrated. and tailored our risk assessment accordingly. Using our knowledge of the company, together th the discussions held with management al the planning stage, we formed a conclusion on the rlsk of misstatement due to irregularities including fraud, and tallored our pro¢edure$ according to this risk assessment.
CITY OF BRADFORD Y.M.C.A. INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CITY OF BRADFORD Y.M.C.A. The kay procedures w8 undertook to detect irregularities induding fraud during the course of the audit included: Identltying and testlng uma1 entrles kn the overall arxountlng records, in particular those that were significant and unusual. Reviewing the financial statement disclosures and d8t8nnining whether accnunting policies have been appropriately applied. Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in partlcular In relation lo Investrnent property valuations and recoverability of debts. - Assessing the extent of compliance with the rèl8vant laws and regulations. - Tasting key revenue streams, in particular grant income, for evidence of management bias. Obtaining third paty confirmation of material bank balances. Documenting and verifying all significant r8lal8d paty balances and transaction8. There are inherent limitations in our audit procedures described above. The mor• removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit Ihe audit procedures requlred lo Idenlty non-compliance with laws and regulations lo enquiry of th8 directors and other management, and thè Inspection of regulatory and legal correspondenco. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberatè concealment or llUsIon. A further description of our responsibilities 18 available on the Flnanclal Reportlng Councll'8 webslte at: httpg.'11 vhyw.frc.org.uklaudltorsrespon$lbllltles. Thls description forn18 part of our audltol8 report. Us• of our report This rgport is made solely to the charitable companys members, a$ a body, In accordance with Chapter 3 of Part 16 ol the Companies Act 2006. Our audit work has b88n undertaken so that we might stste to the charltable company's members those matters w8 are required lo slate to them In an audltor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibilty to anyone other than the charitable company and the charitable o)mpanYs members as a body, for our audit work, for thls report, or for the opinions we have fomied. Deborah Thorn FCA (S•nlor Statutory Audltor) For and on beham of Champion Accountants LLP. Statutory Audltor Chartered Accountants 1 Worsley Court High Street Worsley Manchester M28 3NJ i&.. kn.Q£AYthL/ Jojis 10-
CITY OF BRADFORD Y.M.C.A. STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestri¢ted Restrfctad fund8 funds 2024 2024 Total Unrestrided Restrlcled Total funds funds as rostated 2023 2023 2023 2024 Notes Incom• and endowments from: Donations and legacies Charitable activities Investments Other income 3.190 12.878 252.964 82.733 18,682 359,128 21,872 371,806 252,964 82,733 16,116 174,660 16.800 357,094 373.210 174.660 16.800 Total Income 351.565 377,810 729,375 207,576 357,094 564.670 Exp•ndltur• on: Charltable activities 337.052 509,060 846.112 196.494 494,275 690.769 Total •xpondlturg 337,052 509,060 846,112 196,494 494,275 690.769 Net gain$l(losses) on Investments 12 (1,175) (1,175) {1.675) (1.675) Net Incomellexpondlturn) 13,338 {131,250) (117.912) 9,407 (137,181) (127,774) Oth•r r•cognl8•d galns and losses: Actuarial galnsl{losses) on defined benefrt pension schemes 2.880 2.880 (2,584) {2.584) Nel mov•m•nt In funds 16.218 {131,250) (115.032) 6.823 {137.181) (130.358) R•conelllatlon of fund•: Fund balances at 1 April 2023 543,239 4.852.943 5.396.182 536,416 4,990,124 5.526,540 Fund balanrAS at 31 March 2024 559.457 4.721.693 5.281.150 543,239 4,852,943 5.396.182 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditur8 derive from continuing activlties. 11
CITY OF BRADFORD Y.M.C.A. BALANCE SHEET ASAT31 MARCH 2024 2024 2023 as roslated Noto• Flx•d as8OtJ Tangible assets 14 4,730.956 4,850.726 Current assets D8btors Investments Cash at bank and in hand 15 16 151,475 14,075 711,148 372.224 15.250 342.068 876,698 729.542 Cr•dltorn: amounts flllng du• wlthln ono yoar 17 (319,153) (169,835) Not current a•8ets 557,545 559,707 Tol41 •$etg l••• curr•nt Il•blllllo• 5.288.501 5,410.433 Defined benefit pension Ilabillty 19 (7.351) (14.251) N•t a••et• 5.281.150 5.396.182 Th• funds of the charlty Restricted incom8 funds Unrestricted funds Pension reser40 22 4.721,693 552.106 7,351 4.852.943 528,988 14,251 5,281,150 5,396.182 The financlal statements were approved by the trustee8 on .... £.L LL Mr R G Clark Trustee Company registration number 02995811 {England and Wales) 12-
CITY OF BRADFORD Y.M.C.A. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows Irom operallng actlvltles Cash generated froml{absorbed by) operatlons 24 124.113 (263.042) Investing actlvltles Purchase of tanglble fixed assets Capital goods scheme adjustment Inveslment in¢ome received (7.997) 1.675 174.660 252.964 Not ca•h g•n•rat•d from Inv•stlng •¢llvltl•* 244,967 176.335 Net cash used In flnanclng actlvltle8 Net Increa801(decroa8•1 In cash and rAsh •qulval•nts 369.080 {86.7071 Cash and cash equlvalents at beginnlng of year 342,068 428,775 Cash and cash equivalents at end of year 711,148 342.068 13-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charlty Infomiatlon City of 8radford Y.M.C.A. is a private company limited by guarantee incorporated in England and Wales. Th8 registered office is Culture Fusion Building. 125 Thornton Road, Bradford, West Yorkshire, BD12EP. 1.1 Accountlng conv•ntlon The financial statements have been prepared In accordance wlth the charlty's governlng document. the Companles Act 2006, FRS 102 "Th8 Financial R8POrting Standard applicable In the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reportlng Standard applicable in the UK and R8publlc of Irèland (FRS 102)" The charlty is a Public Benefit Entity as d8fin8d by FRS 102. The financlal ststements are prepared In sterling, vthlch is the functional currency of the charity. Monetary amount8 in these financial ststements are rounded to the nearest £. The flnancl81 siat8ment8 have been prepared under tho hlstorlcal cost conventlon. modified to Include tha ravaluallon of Inveslments at falr value. The prin¢lpal accountlng pollcles adopted are set out below. 1.2 Prlor perfod error A prior period adju51ment has been recognised in respect of an under provision on utility costs. 1.3 Golng ¢onc•rn At the time of approvlng the financlal statements, the trustees have a reasonable expectation that the charity has adequate resources to continue In operational 8XlStence for the foreseeable future. Thus the trustees conlinue to adopt the going concern basis of accounting in preparing the financial statements. 1.4 Charllablo funds Unrestrictéd fund8 are avallable for u88 at the dlscretlon ol the tnjstees In furtherance of thelr charitable objectives. Deslgnated funds comprlse funds that have been set aside at the discrelion of the directors for speclfic purposes. The purposes and uses of the designated funds are sel out In the notes to th8 financial slatements. Restricted funds are those received lor use in a particular area or for specific purposes, the uso of which Is r8strlct8d to that area or purpose. Capital grants received for the restricted purpose of providing fix8d assets are accounted for as restricted fijnds and are immediately recognised as incoming resources in the Statement of Financial Activitles. Endowment funds are subject to speclflc conditlons by donors that thg Capital must be malntalned by the charity. 1.5 Income Inme is recognised vthen the charlty is legally entitled to it after any performance condittons have been met, the amounts can be measured reliably, and il is probable that income will b8 received. Cash donations are recognlsed on r8¢eipt. other donations are recognlsed once the charity has been notified of the donation. unless perfomance conditions require deferral of the amount. Income tsx recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognlsed on recelpt or other4vise rf the chartty has been notified of an Impending dlstribution, the amount is known, and receipt is expected. If the amount is not known, thè legacy is treated as a contlngent asset. 14-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Continued) Donated goods are recognlsed as Income when the charity ha5 control over the Item. any condltlons associated with the donated Item have been met, the rec8iPt of th8 economic benefit from the use by the charity is probable and the economic benefit can be measured reliably. Stocks of undistributed donated goods are not valued for balan(% sheet purposes. Grants are recognised as income when the chanty has entitlement to the funds, any perfomiance conditions attached to the grants have been met, it is probabl8 that the income will be received and the amount can ba measured reliably and is not deferred. 1.6 Exp•ndltur• Expenditure is recognised once there is a legal or o)nstructlv8 obligation to make a payment to a thlrd party, It Is probable that s8tt18ment will bo required and the amount of the obllgatlon can bo mo88ured reliably. Support costs are those functions that assist the wort( of the charlty but do not dlre¢tly undertake charltable activitle8, and Include depreclatlon. Govemance costs include administration costs, audit fees and certain admlnlstration expenses that do not relate dlrecUy to charitable aciivlties. 1.7 Tanglblè flx•d a880ts Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of dépreclallon and any lrnpairment losses. Depreclatlon is recognlsed so as to write off th8 Cost or valuation of assets less their residual values over their usefvl lives on the following bases: Long leasehold Improvements Fixtures, fittlngs & equipment Motor vehlcl8s 20/0 on cost Befv4een 10% & 200A on cost 25% on reducing balance The galn or loss arfsing on thè disposal of an asset is detennined as the difference between the sale prOad$ and the carrying value ol the asset. and is recognlsed in the statement of financial activitles. 1.8 Impaimient of fixed assot$ At each reporting end date, the charlty revlews the carylng amounts of Its tangible assets to determin8 whether ther8 is any Indlcatlon that those oss8ts have suff8r8d an Impaimient loss. If any such indiG8tion exists, the recoverable amount of the asset is estimated In order to determlne the extent of the Impaiment loss (rf any). 1.9 C••h and ¢ash •qulval•nts Cash and cash equivalents indude cash In hand, deposlts held at call with banks, other short-term liquid investments with original maturitles of three months or less. and bank overdrafts. Bank overdrafts are shovm wlthin borrowlngs In current liabilities. 15-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poll¢l•$ (Conllnu•d) 1.10 Flnanelal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of Its financial Instrument8. Financial instruments are recognis8d In the charfty's balance sheet when the charity becomes paty to the contractual provisions of th8 instrument. Financ6al assets and liabllities are offset, wth the net amounts presented In the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and sottle th8 liabilty slmultaneously. B•$l¢ Ilnanclal assets Basic financial assets, which indude debtors and cash and bank balances, ar8 initially measured at transaction price including transaction costs and are subsoquently Carried at amortlsed cost using the effective nterest method unless the arrangement constitutes a financlng transaction, where the transaction is meaSUd at the present value of the future recelpts dlscounted al a market rate of interest. FlnancSal assets classified as receivable within one year are not amortised. 8•slc flnanelal Ilabllltles Baslc financlal liabilllies, Induding ¢redltor5 and bank loans are Inltlally recognlsed al transactlon prlce unless Ihe arrangement constitutes a financing transaction, vther8 the d8bl Instrument is measured at the present value of the future payments discounted at a market rate of interest. Finanoal liabilities classified as payable within one year are not amortised. Oobt In$trumonts are subsequenlly carrled at amortlsgd cost. uslng the effective Interest rate method. Trade credrtors are obligatlons to pay for goods or servic8s that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paent is due within one year or less. If not. they are presented as non-current liabililies. Trade creditors are recognised inilially at transaction price and subsequently measured at amortised cost using the effectlve Interest method. D•rncognltlon of Ilnancl•l Ilabllltles Financlal Ilabilities are derecognised when the charity's contractual obligatlons explre or are dlscharged or cancelled. 1.11 Employ•• b•n•flt• The cost of any unused holiday ontillement is recognlsed In the perlod In which the employee's serylces are received. Termination benefits are recognised Immediately as an expense when the charity is demonstrably committed to tenninate the employment of an employee or to provide termination benefits. 1.12 R•tlrement n•ffitS Payments to defined contribution r8tlremanl banofit schemes are charged as an expenso as they fall due. The City of Bradford YMCA particlpated In a multi-employer defined benefit pension plan for employees of YMCA'S in England, Scotland and Wales, vthich was dosed to new members and accruals on 30 April 2007. The plan's actuary has advised that it is not possible to separately identity the assets and liabilities relating to City of Bradford YMCA and therefore the scheme is accounted for as a defined contribution scheme. As described In note 19, City of Bradford YMCA has a contractual obligation to make pension deficit payments of £2.505 p.a. over the period to Aprll 2027 (2023 . £3,009 p.a. to April 2029). and therefor8 this is shoTrAm as a liability in the accounts. 16-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal a¢¢ountlng estlmates and Judgements In the applicalion of the charltys accounting pollcies, the trustees arè required lo make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The esllmates and associated assumptions are based on historical experience and other factor5 that ara consldered to be relevant. Actual results may drffer from these estimates. Tha estimates and undedying assumptions are reviewéd on an ongolng basis. Revisions to accounting estimates are recognised in the period in whi¢h the estimate Is rewsed where the revislon affects only that period. or in the period of the revision and future perlods vthere the revision affects both current and future periods. Crftlcal ludgoments The followtng judgements (apart from those involvlng estimates) have had the most significant effect on amounts recognlsed in the financial statements. Useful economlc Ilfe of tanglble flxed assets The useful economic life of tangible fixed assets Is judged at the polnt of acquisition and revlevmd each financlal reporting date. The judgement is based on the trustees knowledge of the industy in which tha charity operat•s and of th• Indlvldval 88S8t8. A8 Standard, the useful economlc livos are applled as shown In note Impalrni•nt of langlbl• flxad a88•ts At each balance sheet date, the trustees undertake an assessment of the carrylng value of its tanglble fixed assets based on their knowledge of the assèts to detemiine whether there is any indicatlon that the assets have suffered an impairment loss. Whore necessary. an Impalmient charge Is recognised In the Statement of Fwiancial Activities. K•y •our¢•• of •8llmallon unrtaInty The estlmates and assumptlons whlch have a signiflcant risk of causlng a materlal adjustment to the carrying vlaue of assets and liabilities are as follows. Impalrniant of trad• dabtors At each balance sheet date, the trustees and their finance team undertake a review of outstanding debtor b818nces and estimate whlch, rf any, should either be impaired or provided against. This calculation is based on the financial position of the customers, the hislorfcal speed ol payment and any ongoSng dlscussions b8tween the charlty and th8 Indlvldual debtor. Incom• from donatlon* and legacl•s Unrostrlcted Restrlcted funds funds 2024 2024 Total Unrestrlctèd Restricted funds funds 2023 2023 Total 2024 2023 Donatlong and glfts 3,190 18,682 21,872 17-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In¢om• from Investments Unrostrlcted Unrestrlcted funds funds 2024 2023 Rentsl income Other Income 252,495 469 173.722 938 252,964 174,660 Incomo from charltabla actlvltl•• Unrostrlcted Rèstrfcted funds lunds 2024 2024 Total Unrostrlctod R•strlcted funds fund8 2023 2023 Total 2024 2023 S8rvices provlded under contract 8,250 8.250 12.855 12,855 Sundry 8ervlces Perfomiance related grants 4,428 4,428 2.253 2,253 359.128 359,128 1,008 357,094 358.102 12,678 359.128 371,806 16.118 357,094 373,210 Oth•r In¢om• Unrastrlctad Unr•8trlet•d funds funds 2024 2023 Insurance clalm Management charges 64,704 18,029 16.800 82,733 16,800 18-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on ¢harltabla actlvltlas 2024 2023 Dlr•¢t co•ts Staff costs Rates Insurance Llght & heat Cleaning, repairs & maintenance Administration expenses Programm8 Costs Motor expenses Travel & subsistence IT & computer costs Training & conferences Sundry expenses Irrecoverable VAT Bank charges Legal & professional Other charitable expenditure 339,747 7,925 21,513 89,857 106,071 8,859 23,028 496 5,104 6,746 8.789 290.825 5,529 19,833 77.872 63.262 7,333 14.969 879 3,612 6,147 2,127 58,115 415 22,352 171 36,973 6,554 820 711.529 559,287 Shaf• of support and gov•rnanc• co8t• (#•• not• 9) Support Govemance 127,767 6,816 128,182 5,300 846,112 690,769 Analysls by fund Unreslrict8d funds Restricted funds 337.052 509,060 196,494 494,275 846,112 690,769 Net movement In funds 2024 2023 The net movement In funds is ststed after chargingl(cr8diting): Fees payable for the audlt of the charitys financlal statements Depreciation of owned tangible fixed assets 8.816 127.767 5.300 126.182 19-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support Costs allocatad to actlvltlos 2024 2023 Depreclation Govemanc8 Costs 127,767 6,816 126.182 5,300 134,583 131,482 Analy$•d b•lween: Charltable activities 134,583 131,482 10 Tru8t••8 None of the trustees (or any persons connected with them) received any remuneration during the year. arKI no travel expenses were paid (2023.. Nil). 11 Employa•8 The average monthly number of employees during the year was: 2024 Numbor 2023 Nurnbor Management Office Programme 14 12 Total 18 16 Employment 2024 2023 Wages and salaries Social security costs Other pension costs 314,979 18,624 6,144 265,430 20.056 5,339 339.747 290.825 There were no employees whose annual remuneration was more than £60.000. -20-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Galn$ and los¥•s on Inv•$tm•nts Unrestrfcted Unrastrlcted funds funds 2024 2023 Gainsl{losses) arising on: Revaluailon of Investments (1.175) {1.875) 13 Taxallon The charity Is exempt from taxation on its activities because all Its income Is applied for charitable purposes. 14 T•nglblo fixod a¥s•t• Long l•a8•hold lfflpTov•m•nl• Flxtur•s. flttln98 & •qulpfft•nt Motor v•hl¢l Tot•1 Co•1 At 1 April 2023 Additions 6,288,834 507,734 7,997 14,836 6.811.404 7.997 At 31 March 2024 6,288.834 515,731 14,836 6,819,401 D•pr•elatlon and Impalrment At 1 April 2023 DepreGiatlon charged In the year 1,438,446 126,093 507,697 1,599 14,535 1,960,678 75 127,767 At 31 March 2024 1,564.539 509.296 14,610 2,088,445 Carrylng amount At 31 March 2024 4,724.295 6.435 226 4,730,956 At 31 Marth 2023 4,850.388 37 301 4,850,726 15 D•btorn 2024 2023 Amounts falling duo wlthln one year. Trad8 debtors 151,47S 372.224 16 Currnnt a$8•t Inv•8tm•nts 2024 2023 Llsted investrnents 14.075 15,250 Current asset Investrnents are ststed at market value. 21
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Credltors: amounts falllng dua withln one year 2024 2023 Other taxatlon and social securlty Payments rec8ived on account Trdde creditors Accruals and deferred income 12.893 25.575 269.715 10.970 4.914 15.993 17.437 131.491 319,153 169,835 18 Provl•lon8 for Ilabllltl•s 2024 2023 Not•• Retirement benefit obligations 19 7,351 14.251 7.351 14,251 19 R•tlr•ment beneflt scheme8 D•llned contrlbutlon 8ch•m•8 The charity operates a defined contrlbulion pension scheme lor all qualifylng employees. Tho assets of the schem8 are held separately from thosè ol the charity in an independently admlnistered fund. The charge b profit or loss In respect of defined contrlbution schemes was £6,144 (2023- £5,339). Dned benefit 8ch•m•8 City of Bradford YMCA participated in a contrfbutory pension plan providing defined benefits based on final pensionable pay for employees of YMCA'S in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of Clty ol Bradford YMCA and at the year end these were Inv8Sted in the Mercer Dynamlc De-rlsklng Solutlon, 65% matching portfollo and 35% In the growih portfolio and Schroder (propety units only). V81uatlon The most recent completed three year valuatlon was 1 May 2023, The assumptlons used whlch have the most slgnificant effect on the results of lh8 valuation ar8 those relating lo the assumed rates ol r8tum on assets 4.560/0, the increase in pensions in payment of 3.180A (for RPI capped at 5% per annum), and the average life expèctancy from nomial retiremenl age (of 65) for a current male pensioner of 21.5 years. female 24.0 years, and 23.1 years for male pensioners, female 25.7 years, retiring in 20 years time. The result of the valuation showed ihat the actuarial value of the 05set was £103.1 m. This represented 92% of the benefits that had accrued to members. The plan's actuary has advised that it is not possible to separately identify the assets and liabllitles relatlng to City of Bradford YMCA, and accordingly the pension deficit is not shown In the Balanc8 Sheet.The pension plan was closed to new member5 and fvture service accrual with effect from 30 April 2007. With the removal of Ihe salary linkage for benefits all employed deferred members became deferred members as from 1 May 2011. The valuation prepar8 at 1 May 2023 showed that Ihe YMCA pension plan had a total d8ficit of £9.1 million and City of Bradford YMCA has been adwsed that it wll need to make monthly contributions of £209 from 1 May 2024. This amount Is based on the current actuarial assumptions (as outlined above) and may vary in the future as a r8suIt of actual perfomance of the pension plan The current recovery period is 3 years Commencing 1 May 2024. -22-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Retirement benefit schemes (Continued) 2024 2023 Repayable: Within one year 1-2year5 2-5years After 5 years 2,505 2.378 2.260 208 3.008 2.375 7.125 1.743 Total due 7,351 14,251 The annual repayments and total liabS11ty have been discounted by a factor of 5.3% (2023 - 30A> In line wlth YMCA England recommendatlons. In 8ddition, City of Bradford YMCA may over time have liabilities in the ev8nl of the non-payment by other participating YMCA'S of their share of th8 p8n8lon Plan deficit. It Is not posslble to currently quantify the potential amount that City ol Bradford YMCA maybe called upon to pay in the future. 20 Analysls of n•t a88•ts b•tw••n funds Unr•8trleted funds Restrlcted fund• Total 2024 2024 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) Provisions and pensions 158,430 408,378 (7,351 } 4.572,526 149,167 4.730,958 557,545 (7.351) 559,457 4.721,693 5,281,150 Unrostrlcled funds Réstrlcted funds Total 2023 2023 2023 At 31 March 2023: Tangible assets Current assetsl(liabilities) Provisions and pensions 150,432 407.058 (14,2511 4,700,294 152.649 4.850,726 559,707 {14.251) 543,239 4.852.943 5.396.182 -23-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Flnanclal commitments• guarantees and contingent Ilabllltles The charrty opèrat8s frorn the Culture Fuslon 8ulldlng. the capital cost ol whlch was funded by a grant of £5 million from myspace grant scheme (administered by the Big Lottery Fund) and Co-location funding. The Big Lottery Fund have a legal charge dated 28 October 2011 against the buildlng as security for this grant. Thè legal charge remains in place for a period of 20 years from October 2011 and is enforceable should the charity breach th8 ternis of the grant. The main conditions relate to a significant change of use, purpose or ownership of th8 building and slnce there is no Intentlon by the trustees to breach these condltions, no Ilability has been provided for In these accounts. There Is a lease in place with cty of Bradford MDC for o¢¢upallon of th8 Site. at a p8pp8rcom annual rent of £1 for a period of 999 years. -24-
CITY OF BRADFORDY.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 22 RMtrf¢l•d fund• Th• Inwme lundi of th• chwrtty Include ro8thcled fundi comprlilng th• I11va urnxpendod balan1 of donalon8 8nd giants hold on tru81 f(x1C¢ wrposo1.' •1 In fund• Mov•m•Tht In R•idur¢•• nc•4t IncoMln• •zpMd•d 1 Aprfl 2023 r•0¢ A•••ur¢•• 1 •1112022 31 IQ24 Cuiwre Fusk)n 8ultdlng ulldlng Capablli1I88 TNBt•d Rolallonshlp8 Grant Sundry omall grnnl• G8 Brndlord Manlht Wditsnhome Fund IYS Em••t CookTwsl Dougl&N Wry)d Tru¥l Co-oper8l¥o Foun¢JallM I W511 Prolacl Groundwtyko for sIng FutureB Clty ol 8r8dford Yi Glrfs W•61 yoh1r• Mayor8 Soler CcfflmunM81 Fund Banaf8CI Tftl FamllyAide Clty o18radfNd Yoth Servlc8 Clty of 8rBdfcffjd Couns8Ulng so¢ HAF Greon Communttl Prol8c¢ BEES donalon 4,826,37S 5,002 0,800 1126,0811 4.700,294 15,6021 131,5831 1127,7681 4,572.5 24,783 2.270 12,2701 14,7031 1161,8581 10,000 98,780 1S,CpJO 15,2971 1115,2381 Iis,0001 115,0001 137,9321 17,7291 13S,8461 4.703 18,458 175,6S8 13,800 56,202 39,fr)0 41,202 38,056 141,2021 138,e801 34,988 7,729 39,101 40,S21 2,824 18,887 10,I¥JO 22.142 39,700 28,827 19,Sl¥J 12,3061 136,1241 48,683 23,076 18,CpJOI 122.0001 160,3461 22.000 60,192 9,WO 8.846 56,100 1.264 4,6S2 4.147 64,180 18,682 161,5831 11,2641 14.5521 14,1471 122,5931 3,353 41,593 18,682 4,990,124 357,094 1494,2751 4,852,943 377,810 1509,CfjOI 4,721,693
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 R••trlet•d fvnd• Culiur• Fu•lon Bulldlng Fund.. the capii•l bulkling couls lund•d by my plo¢8 grnnt ieh•m• Ind COthltrAlon fvnding. BEES t. comblning youlh-focused progr&mmo1 wllh wld•r comrnvnity ongagemont and dollv8rs pr8dul yd0¢ts 8¢rog1 8f•dfryl D111 Indudlng $kllls 8nd managem8nt of wlldiifè r888Th&8, enabllng and insplring P80ple lo mak8 a posillwo contributn lo Ihelr local envlronmenl. F•mllh• Flr•t- Int•nslv• Youth Support IIYSI -P8rt of a VCS partn8rshlp18d by Bamodo'5. Brndford Council comm1851oned a keywotherfor vuln•rablo famllles IMThJ In 8r4dford & Dl$iricl th41 mo•1 lh• natlonhl'TrwN0d F8mlll•$' ¢rlt•ria (Daff$ in Bradfard.. F8milio$ Flrsii •nd Ihw locally SÈI crilerla, Th1$ 1¢+ Is lod by 8amardo's plrtnernhlp wlth 8r8th8y- J.A.M.E,S- YMCA And proMd•$ kty w¢rk •upport Ihieugh &'Thlnk Famlly Modol;, wlth workèr, oni lamlly, on• pl8n. YMCA do1[rn In Ihrne lecallty 8re88, Bd10rd E881. Souih gnd Wosl. O¢y#l•# Wood Tru•1 . Supportlng th& r8¢0v¢ry from th• CovKI-19 pind•mlG maklng oul&)or gP•¢¢ w811•b f¢r lh8 pmllbn 01 the •dub¢0 tr41nlng •nd lrnprovlng emotlonal health 8nd well belng. COp•TallY• Found•llon ¥lwlll'. P•er.to.p•&r m•ntodno Ind q¢lbn to imprty• lIIng durlng lh• frcAn PMry to Mwndlry $¢ho¢4. Ys Glrl• . Commnlty18d m•ntarfng lthill910. Th• towi olthe progmmm• li for Volunt88r Mentorn lo work wKh glrta 898d 8- 14 yoèr8 to Inwlre tham and lo wppcyt Ihern lo Ihrlve. W••t Yovk8hlr• Miyorn Sf•r Communltl•• Fund- Malth fundlt)g lowardi Iha Y8 Glrfs Youlh MontolYd PfoJramm¢. Glv• 8radlord IM•nJlt Wol•t•Thhom•l- Supportlng o new Sh8plng FuturoB NEET Programme worklng whh young peo0 outslde ol moln8tr08rn educollon provldkng m•ntodno and Social 8clion projects. ErnMI Cook Tvu•t. m•i¢h fvndlno Ind tdoor L•arnlNJ Offj¢•rwortlng lo h•lp young 0P1a l•m lain9 ¢onn•¢tloMwNh ts n&tur•l InronMl. F•mlfy Ald•- Part of a VCS partnarshlp led by Bamado'&, 8radford Counc41 commlulonod • FarnllyAd• ••Nlco lo provkl• Thanda on 8upwt' to lamb1• lo ¢ompknt• rgaled plets8 of w¢rk lar f•mili•$ In •xW8 na8d ol$upport. Gr••nlnq Communltl•B- Nolicfial Lottery Communlty Fund grant towards Iha delhory olcomrnunty ba88d erwlronm•nt81 and wollbelng progr8n. 8EES Don•tlon - Donatlon r•c•lv•d on the do¥ure o18r8dfoTd EnrOnment Aclbn Group. a chwrlty W¢Ing I0%¥aS a h•allhy and sustslnablo anronMl. whlch Improvm Ihe quallty of lor woplo In th• Bradford Dlthct. .26-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Operatlng lease eommltments At the reporting end date the charity had outstandlng commitments for future minimum lease payments under non-¢ancellable operating leases, which fall du8 as follows.. 2024 2023 Within one year 320 24 Cash gongrated fron(ab80)•d by) opèratlons 2024 2023 Def1 for the year (117,912) {127.774) AdJu•tm•nt• for: Investment Income recognised in statement of flnanclal actlvltles Fair valu8 gains and losses on investments Depreciation and Impaimenl of tanglble flxed assets Dlfference between penslon charge and cash contrlbutions (252,964> 1,175 127,768 (4,020) (174.860> 1.675 126.182 (4.475> Mov•m•nts In worklng caplt•l: Decreasellincrease) in debtors Increas8 in creditors 220.748 149.318 (128,498) 44,508 C8h g•n•rat•d froml{•b•orb•d by) op•ratlon• 124.113 <263,042) 25 R•lat•d p•rty trnn#etlon8 R•muneratlon of k•y manag•m•nt personnel The remuneratlon of key management personnel Is as follows. 2024 2023 Aggrogat6 compensation 44.109 42,003 26 Analysls of changes in nel funds The charity had no material debt durlng the year. -27-
CITY OF BRADFORD Y.M.C.A. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 27 Prlor period adjustment Changes to th• balance sh••1 At 31 March 2023 As prevlously Adjustrnént rèported As restal•d Cr•dltora du• wlthln on• Or Other creditors {117,982) (46,939) (164.921) Capltal funds Income funds Rèstricted funds Unreslrlcted funds 4,852,943 590,178 4,852,943 543,239 (46.939) Total oqulty 5,443,121 (46.939) 5,396,182 Th8 prlor perlod adjustment relat8S to an under provlslon of utility Costs. Change8 to tho proflt and Ios8 account Perlod •nd•d 31 March 2023 A• pr•vlou8ly Adlustm•nl A8 r•stst•d r•port•d Charltable adivities 643,830 46,939 690.769 Net movement in funds (83,419) (46,939) (130.358) -28-