Company number: 3061837 YMCA DERBYSHIRE (A Company Limited by Guarantee} FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024 Company Number: 3061837 Charity Number: 1049904 Regulator of Social Housing Reference: H4085 YMCA DERBYSHIRE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024 CONTENTS Page Reference and Administrative details Report of the Trustees 2-14 Independent Auditor Report 15-18 Consolidated Income and Expenditure Account 19 Consolidated Statement of Financial Activities 20 Charity Statement of Financial Activities 21 Consolidated Balance Sheet 22 Charity Balance Sheet 23 Consolidated Statement of Cash Flows 24 Notes to the Financial Statements 25-51 YMCA DERBYSHIRE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024 REFERENCE AND ADMINISTRATIVE DETAILS srATUS A Company Limlted by Guarantee, Registered Provider of Social Housing and Registered Charity. DIREcfoRS (who are also Trustees) J P Smith {Chairl H M Wi8glesworth Iresigned-january 20241 Ven M Trick (Treasurer) S J Bradley K M Brierley J L Cordon (resigned- September 2024) Canon J Hollywell C W Judson (resigned- November 2024) K Henshaw J M Summers S Knowles Iresi8ned - April 2024) A Tudor R M North (appointed - March 2024) D T Upton (appointed- March 2024) SECRETARY K Jackson SENIOR MANAGEMENTTEAM G H Sewell (Chief Executive Officer) A M Armstrong (Deputy Chief Executive/Dirertor of Finance} L Curd (Director of Lifelong Learning) C A Gillespie (Director of Housing and Communities) G Harrison (Director of Income generation) REGISTERED OFFICE 770 London Road Wilmorton, Derby, DE24 8UT COMPANY REGISTRATION NUMBER 3061837 (England and Wales) REGISTERED CHARITY NUMBER 1049904 REGULATOR OF SOCIAL HOUSING REFERENCE H4085 AUDITOR Dains Audit Limited Suite 2 Albion House, 2 Etruria Office Village, Forge Lane, Etruria, Stoke on Trent, STI 5RQ BANKERS National Westminster Bank plc 7 Market Place, Derby, DEI 3ZF SOLICITORS Smiths Partnership LLP Friars Gate, Derby, DEI INU YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 The Trustees who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31" July 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORP) 'Accounting and Reporting by Charities, effective from January 2019. The Trustees have also had regard for compliance with the Statement of Recommended Practice for registered social housing providers 2018 {SORP), the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing 2022 where applicable to the housing operations of the Charity. OBJECTIVES AND AcfiviTIES Charitable objectives YMCA Derbyshire {"the compan¢, or "the Charitv,) is established with charitable objective5 and is affiliated to the National Council of Young Men's Christian Association Ilncorporatedl. It forms part of the YMCA movement world-wide, which is a Christian movement. It welcomes into its fellowship persons of other religious faiths and of none. The Charity, a Christian organisation, endeavours to provide young people and others with: a} The provision of education with the objective of developing their physical, mental or spiritual ca pacities; b) The provision of residential accommodation or relief to those who are in need, hardship or distress by reason of their social, physical or economic circumstances; c) The provision of support and guidance with the objective of improving their self-esteem, confidence and life skills; and d) The provision of leisure facilities with the objective of improving their conditions of life. Strategy The Board's strategy for achieving these aims is to deliver a range of housing, support, education and employment options offering high quality information, advice and guidance to enable those working towards independent living to make safe and effective choices. The Board also actively ensure5 the delivery of holistic childcare and youth service provision for local families and communities. To 5UPPOrt our strategy in relation to Housing we have incorporated a trading subsidiary to support the development of new build property. Public benefit YMCA Derbyshire assists young people and their communities by offering safe accommodation choices, independent living programmes, vocational training and education, worklessness and economic well- being programmes, advocacy, enterprise activities, family work including extended schools and mentoring se￿iCe5. The Trustees are of the opinion that all the purposes of YMCA Derbyshire are for the benefit of the public. In their capacity as Trustees, they consider that they have complied with their duties under section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Significant activities The work of the YMCA Derbyshire is diverse and includes housing in supported premises, support outreach work for people with a variety of support needs, the provision of youth training and support through a youth orientated campus. YMCA DERBYSHIRE REPORTOFTHE TRUSTEES YEAR ENDED 31 JULY 2024 Housing YMCA Derbyshire's Housing offer continues to develop with emphasi5 being on remodelling stock to ensure its longevity. Our Derby City offer is delivered via two pathways- Young Persons and Supported Housing. We provide 89 units of supported housing for young people (including our Foyer} and 90 units for older residents. In the County we provide 2 un its of supported housing in Amber Valley 3 nd continue to manage the Glebe, a supported living scheme for adults with Lea rning Disabilities with 17 bed spaces; this is delivered in partnership with Derbyshire County Council and Community Integrated Care. Lifelong Learning The Lifelong Learning function of YMCA Derbyshire is focussed on driving forward the development of Lifelong Learning hubs within the communities we serve to ensure that we are offering formal and informal learning opportunities to 5UPPOrt the development of their health, well-being, and social mobilityto all ages. Our Life Long Learning provision covers the following; YMCA DERBYSHIRE •19+ 18~25 Life Long Learning n16-18 5-11 Pthioy. Fw. ESFAsiydy FLTrJ D5S Etytyy•g Str•e5 ilw*ry FOYER I￿1￿0T[l Family work to 5upF￿rt oll educgtion phoses ond liThk with fttmlly hub de￿lOpM￿ts Youth oftd cornfflwthty enrf¢*merttosupportllf• s￿41$ at ¢¥•ry Asplvotionlo pm¥ide mentorfng Ot ewy tr•nsltlon polnt YMCA Stepping Stones (YSS)- Early years education and child care Together we are ensuring families in local communities can gain access to sustainable, high-quality, flexible, and affordable childcare from our YMCA Stepping Stones sites on St Marks Road in the Derwent ward, and St James Centre in the Nofmanton ward. In the future, our aim is to expand into new areas across Derby and Derbyshire as opportunities arise. YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 Y Kidz Under the banner of Y-Kidz, YMCA Derbyshire work5 With primary schools across the county to deliver high quality teaching support, lunchtime cover, breakfast and after-school clubs Iwraparound carel , PPA cover, as well as holiday attivity clubs and sports clubs primarily for children aged between 4 to 11. This brand also covers the work we do within the HAF (Holiday Attivity and Food programmel within Derby City during the ma in school holiday periods. Key College YMCA Key College, as part of YMCA Derbyshire, provides education for 16 - 19 year old students plus those aged 19 to 24 with an EHCP through the Education and Skills Funding Agency funded IESFAI Study Programmes. This is split across cam puse5 in Def by and Ilkeston. Our cu rriculum offer includes Childcare, Health and Social Care, Retail, Building Trades, Hospitality and Catering, Digital Skills and Business Administration, with all Study Programmes containing maths and English to support the vocational learning. In addition to the study programmes, Alternative provision for 14-16 year olds is delivered across a range of qualif ications on behalf of loca I schools in Derby and Ilkeston with Hospitality and Digital Skills proving particularly popular. Adult provision 19 plus New fundinE streams have been secured this year for those aged 19 plus. These include5 the UKSPF (UK shared prosperity fundl Thriving futures programme offering employability support for our residents and people within our local communities who are classed as economically inactive. We also provide Multiply courses in Derby and Derbyshire under the government UKSPF funding banner which consist of engagement events and short courses for those who don't hold a level 2 maths qualification. We now also have a Heritage lottery funded projects called 'Past'.Pre5ent-Work' for our residents which supports development of employa bility through exploring local heritage. Youth and communities At YMCA Derbyshire, we are committed to building stronger. more connected communities, we work with local organisations, businesse5, and individuals to create positive change and improve the lives of those around us. Key seNices being offered include work at the Wilmorton Community Gardens, Sports activities and psychotherapy sessions for residents and students of Key college, Food provision through community meals, and volunteering and employability programmes. In July 2023 Padley Group a local charity in Derby supporting individu31s at risk of homelessness and or poverty became part of YMCA Derbyshire and are now operating as Padley@YMCA Derbyshire. ACHIEVEMENTS A full list of the Charity's objectives and achievements can be found in the Annual Report. This can be found at www.ymcoderbyshire.org.uk or by writing to the Charitws registered office. Houslng Over the course of 2023124, we supported a total 325 individuals. Out of these 198 were new residents who were experiencing homelessness and seeking support to gain stable accommodation. We still continue to experience an increase in longer-term residents. We have 70 residents claiming their main barrier to move-on is that there is no suitable accommodation available. Other barriers are noted from baseline, such as personal problems, lack of ID, does not wish to house-share, and affordability. Yet, as these issues decline a5 time progresses the lack of availability increases. However, we have seen an incre3se in our positive move-ons this year to 97. Of these, 3 were into U niversity halls, 7 to private rent, 16 to social housing, 16 returned to family, 22 to other supported housing, and 33 moved in with friends. YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 This reflects a 70% increase in positive move rate. yet still remains 24% lower than our previous 2022/23 level. Despite the challenges. our residents continue to persevere. In 2023124, we saw several improved outcomes achieved by residents: 33 residents sta rted form31 education 26 attended a training course 97 gained a new vocational qualification 60 gained English functional skills 46 gained Maths functional skills 16 applied for university {3 were successfull. 36 gained employment125 PT & 10 FT) 198 engaged with activities delivered by YMCAD 96 improved their wellbeing 27 overcame depression/anxiety 13 accessed alcohollsubstance misuse support 6 overcame addiction to d rugs/alcohol 49 improved their financial stability 56 were able to start saving money Ifor a deposit) In a troubled year. our 60-apartment affordable housing scheme for young people, funded by Homes England and delivered in partnership with NCHA, has been delayed due to the insolvency of our initial main contractor. Tanbry Construction Ltd have been appointed our new main contractorwith the project now due to be ready to let in Summer 2025. Value for Money (Vfm) The Board recognises that it is essential that YMCA Derbyshire IYMCADI is focused on demonstrating Vfm in delivering its strategic ambitions. The housing sector is facing big challenges, both in terms of delivering new supply, maintaining high levels of services to existing residents and ensuring properties are safe and well maintained. YMCAD'S business model is built on ensuring that services to existing residents are fully funded, before looking to contribute any internal resources to the expansion of our residential portfolio. To deliver Vfm, YMCAD is prepared to be innovative, be more commercial and generate economies of scale through both organic and inorganic growth. These actions will deliver greater financial capacity to invest in and deliver the Association's agreed purpose. YMCAD, like other housing provider5, is constrained in what it can achieve and has to make diff icult decisions on how resources are deployed. However, the Board believes fundamentally that investment in new supply is a key strategic ambition and has a key role in generating future sustainable capacity to invest in existing stock. Challenges to delivering Vfm YMCAD only builds and manages homes for specific tenant types- Young People and those who have been homeless. These schemes are relatively small, with homes per scheme typically numbering between 15 and 60. Build costs can be high due to the cost of land and of supplying infrastructure, as schemes are built on land initially without utilities, access or d rainage. Although YMCAD has excellent re13tionships with the local councils in the areas where it operates, there is often considerable local resistance to homes being built for the tenant types we target. Mostly these concerns are alleviated thiough positively engaging and communicating with the local residents, but this does take time, and means that a typical scheme can take up to 5 years from start to finish, requiring significa nt staff time to deliver each project. YMCAD operates within strict county boundaries which limits opportunities for growth. YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 As a specialist in Young People's housing, YMCAD are able to build and manage social housing in locations that other housing associations would dismiss as too small. This is a key differentiator for YMCAD in delivering value to urban Derbyshire and the City. The Board recognises its role in being an advocate for specialist housing. It achieves this through influencing policies at a local and, via the YMCA federation, central government level. This can have real benefit to current and future residents by protecting and promoting the investment in YP housing and services. It also supports a positive policy framework for other YMCAS to operate within. A good example of success was the acceptance of the Transltional Housing model by Homes England. YMCAD is part of the Blue Skie5 consortium which allows us to "piggy back" on larger schemes developed by NCHA, creating economies of scale which would othe￿1$e be hard to achieve. YMCAD'S Vfm Strategy can be summarised as the ability to effectively mobilise investment and deliver on its agreed purpose, whilst using capacity and resources more eff iciently. To understand how well it does this, it is important that there are easy to measure targets and outcomes. A set of performance indicators has been agreed by the Board in a 'Business Health Dashboa rd,, detailed above in the review of strategic ambitions. These indicators include both financial and non-financial outcome5, some of which, together with some of the Vfm Standard Metrics below. should provide a clear indication of how YMCA Derbyshire is performing in delivering Vfm against its strategic objectives. VFM Standard The Value for Money IVfMI required outcomes by the Standard are that housing association providers registered with the Regulator of Social Housing IRSHI must.. Clearly a rticulate their strategic objectives,. Have an approach agreed by the Board to the achievement of Vfm in meeting those objectives and the demonstration of the delivery of Vfm to stakeholders. Ic) Through the strategic objectives to articulate the Board's strategy for delivering homes that meet a range of needs,. Ibl Idl Ensure that optimal benefit is derived from resources and assets to secure economy, efficiency and effectiveness in the delivery of strategic objectives. The Vfm Standard requires housing associations to determine additional measures and targets which are bespoke to the organisation and which supplement the Vfm metrics. This include5 measurable targets and plans to address any areas of underperformance. Our performance figures will be measured against the Vfm metrics shown below. YMCAD'S strategic approach to Vfm is shown through the Business Strategy 2024 - 2030, the succes5 of which is in part measured by linking improvements to Vfm metrics. The Strategy looks to apply resources to achieve agreed purpose, whilst delivering more for the same or less. Importantly achieving this whilst positively enhancing financial, staff and asset performa nce. The result of thi5 being better productivity and improved Vfm. Performance indicators which the Board consider key to demon5tr3ting whether Vfm is being delivered to stakeholders, through the Business Strategy are: Metric New Supply Delivered % - social housing lettings (Vfm Standard Metric) Operating Margin - social housing lettings Ivfm Standard Metricl Reinvestment % Ivfm Standard Metric) Gearing Yo {VfM standard metric) EBITDA MRI I nterest cover (Vfm standard metric) Headline Social Housing cost per unit Ivfm standard metric} 2022 Iyo 2023 17% 2024 9% 9% 18% 2.8% 16.9 £13,815 3Yo 36% 11.7Y. 10.4 £17,427 SY. -2.0% 13.0 £13,810 YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 ROCE Ivfm standard metric) % Homes above EPC C (Bespoke Metric) Number of complaints (Bespoke Metric Repairs delivered on target (Bespoke Metric) Lifelong learning YMCA Stepping Stones YSS became a wholly owned subsidiary of YMCA Derbyshire in October 2022. In 2023 Derwent Stepping Stones achieved Ofsted Good ratings in all settings whilst undergoing a complete rebrand to YMCA Stepping Stones. The charity also became fully integrated into YMCA Lifelong Lea rning directorate as part of Early Year and Childcare Service alongside Ykidz ensuring comprehensive community access to lifelong learning and childcare. YMCA Management also advocated strongly for equity in SEND funding and developed growth strategy through 2024-2030 business plan. YMCA Stepping Stones Leadership was, through the charities CEO, invited to research and support the local authority in regard to sufficiency of staffing within the early years sector. 5Yo 82% 80Y. 18 53Yo 85% 18 90Yo 89% Y Kidz During the year the Y-Kidz team worked at five primary school sites. Four in Derby and one at Weston on Trent, supporting schools to meet their PE and sport's needs, providing busy families with safe and supportive childcare with our before and after school clubs and enabling hundreds of children to access fun and exciting holiday clubs. Unfortunately, the new wrap around provision at Ashgate primary did not attract the client base that had been hoped for and was closed in December 2024. Also due to changes in leadership at Weston on Trent primary changes were made to evening provision atthe school which have impacted on service use and has made provision unsustainable at the school and as a result we have withdrawn from delivery of provision from July 2024. A new larger Derby based school Redwood primary has replaced thi5 for 2024-25 academic year. We provided Holiday Activity and Food holiday activity clubs successfully at 3 primary schools across the year alongside sustain ing our established holiday clubs at Markeaton Primary School and St Joseph's Catholic Primary Academy. Key College In 2023124, 72 % of those students who were funded starts on our programmes completed the core aim of the ESFA study programme {93 Yo of students either completed core aim or were carried over into 2023/241. Key College has continued to draw a majority of students from areas identified as deprived, with 67 % of learners coming from the 30Yo most deprived areas in England. Key College has continued to nurture young people with a broad range of learning needs with 50 Yo of our students identify as having special education needs or disabilities {"SEND"). 20 Yo of our students were on the autism spectrum la prevalence roughly ten times higher than the general population} and 10 % of our students had mental health difficulties. The majority160 %) of our students lived in Uni Connect outreach wards which are wards with lower-than-expected higher education participation. Progression for our students this year has typically been into education with 23 students going on to further education, 15 into employment and 22 students remaining on programme into 2024125.AII subject areas were separately audited by City and Guild5, NCFE or NOCN and we maintained direct cl3im status (where applica blel for all qualifications currently delivered as recognition of the continued quality of the provision we offer. Matrix re-accreditation was achieved recognising the quality of the information, advice and guidance given. YMCA Key College learners have been involved in an extensive range of enrichments to their main programmes. YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 Adult programmes The Thriving futures UKSPF programme reached recruitment targets and hit and surpassed majority of it5 Outcome and output targets. Those not achieved were due to the nature of the client group and were not deemed by the funder as critical. The Derby City and Derbyshire Multiply project hit all set target5 and Derbyshire was given a contract uplift to account for going over target. Both provisions have been secured for a nother year. The Heritage lottery funding project has delivered to target although there have been some challenges in sustaining involvement due to people moving on from YMCA or into education or jobs. Youth and communities Over 1200 individuals an(J families have been supported th is year, and 6000 Im21 of green spaces have been createdlimproved, through a range of programmes, including- Wilmorton Community Gardens - As leaseholder of the Wilmorton Community Gardens, YMCA Derbyshire provides 25 allotment plots and a green space where local residents can grow their own produce, landscape, and engage with nature and each other-fostering community connections, reducing isolation, and improving well-being. Over the past 12 months, we have run horticulture and landscaping programmes three day5 a week, alongside initiatives such as 'Men in Sheds, and the 'Green Connectorf project, aimed at increasing biodiversity and promoting mental well-being. As part of the Green Connector project, over 150 trees have been planted, and we've added wildlife-friendly features like bug hotels and bird boxes. These efforts have helped enhance biodiversity and created an environment where 211 volunteers, including corporate groups, can contribute. This green space has become an essential lifeline for the community, offering opportunities to engage in meaningful, restorative activities that ease troubled minds and improve physical 3nd mental health. SportsActivitie5- Our weekly 5POrts sessions covering football, gym, boxing, and wrestling offer both physical activity and social interaction. For many, these sessions serve as a way to release energy and have fun, while also atting as an incentive, with gym access earned through personal progress. Participants from YMCA Key College and residents improve their physical and mental well-being, all while being steered towa rd positive, engaging activities. Psychotherapy Sesslons - Our in-house, funded psychotherapist provides holistic mental health support to residents and YMCA Key College students. This service is h ighly sought after, accounting for 54Yo of all in-house referrals. It plays a crucial role in our support framework, addressing trauma and breaking down barriers to further engagement. Food Provision We offer community meals on a weekly basis throughout the winter months and monthly for the rest of the year. These meals provide an opportunity for individuals and families experiencing poverty to enjoy a warm meal and soci31ise in a safe, welcoming environment. Alongside this, we offer emergency food parcels and have introduced a community pantry where residents and YMCA Key College learners can purchase food at an affordable price. Volunteering and Employability Programmes - Our volunteer and work-based opportunities cater to people of all aEes and backgrounds, helping them build the skills and confidence to contribute positively to the local community. Padley@YMCA - In the past year, Padley@YMCA has provided over 10,200 meals, including community meals and takeaways, alongside 2,800 food parcels and 1,900 toiletry parcels, supporting individuals referred by agencies such as the DWP a nd British Red Cross. Through 578 ses5ion5, including wellness programmes and creative workshops, Padlev@YMCA has helped foster personal growth and community engagement. With over 10,600 visitors, the centre continues to be a vital resource forthose facing food insecurity, homelessness, and other challenges. offering essential services to improve their stability and well-being. We are nearing completion of the Padley@YMCA community hub at Parcel Terrace. Our Hub will be a resilience centre creating new programmes such as independent living skills YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 workshops, tenancy sustainability, DIY classes, horticulture, employability sessions, therapeutic counselling, and volunteering opportunities. We are also expanding our focus to include families and children, particularly those in temporary accommodation. The centre will offer a community kitchen, launderette, and food pantry, and we are actively collaborating with local charities and organ isation5 to extend the range of services 3vaila ble at the HUB. Quality standard We were successful in the 2023/24 audit of the IS09001..2015 standards. We were also successful in an inspection for the Matrix Quality Sta ndard and the renewal of our CredAbility Award. Involving people YMCA Derbyshire employs a range of methods of engagement to allow people to participate effectively and is able to demonstrate that feedback influences our policy development. Fundraising activities Our Charit¢s fundraising activities combine the raising of donations and the application for grants to provide services for our Charity's scope of operation within housing, lifelong learning, and youth and community work. This year we continued to increase our fundraising through individual donors and support through businesses. Our Charity is extremely grateful to the large number of donors who have contributed to the funding of the Charity through a variety of events, one off and regular donations and through sponsorship. Our key events throughout the year included our Christm35 Ball which raised £19,005. Sleep Easy which took place in March 2023 and raised £32,905 through local people being sponsored to sleep rough for a night. Our annual golf day. which took place in May 2024, raised £14,468. All were well supported, and we appreciate all of our fundraising volunteers and donors for making these events possible. The total for fundraising from donations and events came to £367,740 and grant funding received in the year was £1,475,451 giving a combined total of £1,843,191. Details of grants received are included in the notes to the accounts. External and internal factors affecting performance External We continue to navigate the changing landscape of local and regional political administration impacting Housing. Adult Education, Transport and Environment where responsibilities are shifting from local authority control to the East Midlands Combined Authority IEMCAI. Short term or non-existent health, support, adult education and youth work contracts remain an issue with need increasing to find alternative funding solutions including grants and fundraising activities with successes in Government funded Youth Investment Fund, Shared prosperity fund for Adult Education and philanthropic activity paying towards housing based youth worker, resident and learner activities, and a capital funding requirements. Early Years and Childcare as an industry remains a challenge with funding levels adversely disproportionate to post pandemic child development needs and staffing costs. YMCA and DSS have worked tirelessly to reduce central costs whilst ensuring f ront line delivery remains at susta inable levels. Confusion around perceived free childcare has required marketing campaigns to ensure parents/ guardians are aware of their entitlements and numbers at YMCA Stepping Stones continue to grow and remain at sustainable levels. Internal The Board continues to act to ensure that the Charity remains sustainable as income sources fluctuate whilst being aligned to the needs of its beneficiaries. YMCA Derbyshire remains a going concern and has suff icient capacity to continue to determine its own future. A significant part of the strategy to remain YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 Sustainable involve5 diversification of income streams through a 2024-2030 business plan for Housing, Life Long Learning (incorporating Early years, Key college and Y Kidzl, and Youth and Community work supporting benefici3ries of the core services as well as the wider community that we serve. The senior leadership team continues to ensure the charity remains strategically relevant by undertaking research and development in all areas of service. The staffing structure remains under review, with changes made responding to operational and financial need. FINANCIAL REVIEW Investment policy The company's powers of investment are set out in its Memorandum of Association. In addition. the company has adopted an investment policy, which the Boa rd reviews regularly. This requires investment of the Company's funds to be in accordance with prudent, ethical and minimum risk criteria. Results for the period There has been a net increase in funds in the year of £549,80712023 - increase of £1,260,727). We aim to maintain the level of surplus at around 5% of turnoverto enable the creation of funds for investment in new projects and the rebuilding of reserves. We continually seek ways of developing the services we offer whilst ensuring that we remain financially sustainable. Policy on financial reserves The Charity has various funds av3i13ble to finance its activities. Unrestricted funds Unrestricted funds are funds that are expendable at the discretion of the Board in furtherance of the Charit¢s objective5. Such funds may be designated by the Board for a particular project or purpose. The general fund is the amount of un restricted funds that has not been designated. The Board recognises the need to establish a level of f ree reserves that enables financial stability to ensure our responsibilities to our beneficiaries can be maintained. These funds meet the requirements for working capital and act as a cushion against fluctuations in income levels and in the financial performance of the Charity. 'Free reserve5" for this purpose are defined as unrestricted net current assets less amounts designated for specific purposes. Creditors due after more than one year and creditors for capital items with associated planned future long term borrowing have been excluded from the definition of free reserves with the expettation that funds will be derived from the assets funded to meet these liabilities a5 they become due. The target for free reserves is reviewed on an on going basis and has been set having regard to key a reas of risk. The Board's target for free reserves is to be between two and three months of expected unrestricted operating expenditure. At the end of July 2024 this equates to a level of free reserves between £0.9m and £1.35m. A5 at 31 July 2024, free reserves were £278,18312023'. £249,219). There has been limited growth in free reserves in the year due to an increase in funds set aside for planned maintenance alongside the investment of funds in capital projects. Funds have been designated in relation to future periodic maintenance of the Cha rity's property based on a continuing programme of planned maintenance, and for the development of strategic housing projects. Action to rebuild reserves towards the target level is being ta ken through planned operating surpluses but this may take a number of years as the Charity undertakes investment in new projects. Restricted funds Where a donor has placed restrictions on the use of funds or where funds have been received through a process of merger or acquisition, these are included within restricted funds. Full details of the restricted funds are included in note 15 to the financial statements. The Board considers that YMCA Derbyshire has sufficient assets to meet its obligations as they arise. Going concern assessment The overall financial performance of the Charity remains strong. YMCA Derbyshire reported a cash outflow for the year of £1,819,588 due to significant investment in freehold properties and at 31 July 10 YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 2024 was holding £730,798 in cash balances in the consolidated accounts. Based on projections for the next year, the Trustees are of the view that the amount of cash reserves held secure the immediate future of the Charity and on that basis the Charity is a going concern. FUTURE DEVELOPMENTS The Charity has updated its business plan for all core areas having achieved key targets earlier than planned. Key to our future sU5tainability and growth is the continued development and remodelling of our housing stock. Post pandemic we are moving away from shared accommodation to provide more self contained units across the city and the county. We are currently on site developing 60 self contained flats in Derby with an expected completion date of Summer 2025 and have undertaken significant refurbishment work on our Campus site which was completed in August 2024. We continue to work with local authorities in both the city and the county to develop both a county Foyer alongside further self contained move on accommodation and now working with the East Midlands Combined Authority to inform policy in relation to young people and their housing needs. We will continue to broaden our Lifelong learning provision. We will continue to support Stepping Stones nurseries to re-grow its income to ensure its innovative services are more broadly available and use this as a springboard to develop further settings in the city and county. We are looking to develop a 'Green hub, on the Wilmorton Community Gardens in 2024-25 to provide a training centre focussed on horticulture and construction skills as well a5 3 base for community work. We will explore the suff iciency of our properties to enhance our current provision which align to the employment and skills needs of our stakeholders and will maximise the opportunities to collaborate on the design and delivery of these. We continue to aim to increasethe value of our ESFA contract and growth in income from schools funded alternative provision. The Charity is working to build on the ongoing success of both social impact bonds and phila nthropic activities for the benef it of vulnerable young people in our communities. Funding is being sought to extend our provision of education and health and wellbeing services to both our residents and students through our use of our local allotments in Derby in pa rtnefship with Derby City Council and other local stakeholders. Our Youth and community offer has expanded through the merger with Padley Group will relocate the Padley community hub to a new centre early in 2024-25. We are seeking new funding streams to ensure we generate the income to reinvest back into communities where there is significant need for our support. STRucfuRE GOVERNANCE AND MANAGEMENT YMCA Derbyshire is incorporated as a private company limited by guarantee, The Memorandum and Articles of Association were last revised and adopted by special resolution passed in June 2009. In our view the entity complies with the governance and financial viability standard as laid down by the Regulator of Social Housing120151. Recruitment and appointment of new Trustees The members of the company have delegated the responsibility of oversight of the compan¢s bLssiness to the Board of Trustees Ithe 'Board"I which, in turn, has delegated the responsibility for the day to day management of the company to the Chief Executive. The Board seeks to ensure that the diverse range of services and activities provided by the Charity a re represented by the broad skills mix of its members. The Board 15 made up of members who have backgrounds in business, f inance, marketing or experience of working with young people. In the event of particular skills being lost due to retirement, individuals are approached to offer themselves for election to the Board. No other company has a right to appoint a Trustee to the Board. In accordance with the company's Articles of Association, one third of the Board will retire at the forthcoming Annual General Meeting and, where able 3 nd eligible, will offer themselves for re-election. YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 Policies and procedures for induction and tralnlng of Trustees All Board members are offered Trustee training and the opportunity to attend the Annual YMCA Trustees, conference. The company also ensures all new Board members receive an induction manu31 with which they are expected to become familiar. Contents include a broad oveNiew of the companws activities, company policies and govern3nce matters relating to the activities of the Charity, as well as the company's latest business plan and governance documents relating to the company's constitution and that of its internal decision-making process. The Charity provides for Trustee indemnity insurance. Organisational strurture The Board also delegates power5 to committees of the Board. which operate within defined terms of reference. The current committees of the Board are the Accommodation Committee, the Life Long Learning Committee, the Finance and Capital Development Committee, Remuneration and Nominations committee, and the Audit and Risk Committee. Proposals for appointments to the Board are made by the Board of Trustees after a recruitment process involving both Trustees and senior staff. Persons appointed to the Board other than by means of a members, resolution hold office only until the next following Annual General Meeting when they are eligible for re-election by the members, or, as the case may be, co-option by the Board. Related parties YMCAD Property Developments Limtted is a wholly owned Subsidiary of the Charity and YMCA Derbyshire is the sole member of Derwent Stepping Stones Nursery and Community Training Centre Limited la company limited by guarantee}. The charity merged with the Padley Group la company limited th by guarantee) on 15 July 2023, with all assets and liabilities of Padley group transferring to YMCA Derbyshire. This includes the transfer of the ownership of 100% of the Shares of Padley Trading Limited. The Charity is affiliated to the National Council of Young Men's Christian Association Ilncorporatedl (also known a5 YMCA England and Wales) and also a member of the Foyer Federation, and the National Housing Federation. Pay policy for senior staff All Trustees give of their time freely and no Trustee received remuneration in the year. The Trustees considerthe senior management team comprise the key management personnel ofthe Charity in charge of directing a nd operating the Charity on a day to day basis. Details of related party transactions are disclosed in note 22 to the financial statements. The pay of the Senior staff is reviewed annually. In view of the nature of the Charity, the Trustees benchmark pay aBa inst other charities of a similar nature including other regional YMCAS. If recruitment has proven difficult in the recent past a market addition is a Iso paid with the pay maximum no greater than the highest benchmarked salary for a comparable role. RISK MANAGEMENT The Board has conducted a review of all major risks to which the Charity is exposed and undertaken a risk appetite assessment to establish the principal risks that the organisation is exposed to and is willing to take to achieve its objectives. A risk register has been established and is updated at least quarterly. Where appropriate systems and procedures have been established to mitigate the risks the Charity faces. Policies and procedures are periodically reviewed to ensure they continue to meet the needs of the Charity. Key areas of risk identified are as follows- The meeting of responsibilities in relation to safeguarding The Board takes its responsibility in relation to safeguarding both young people and vulnerable adults very seriously. This is signified by the appointment of the Head of Training & Education as the main protection officer for both 12 YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 children and vulnerable adults with any issues raised reported direct to the Board. We ensure that DBS checks are carried out and mandatory training provided for all Trustees, staff and volunteers who have direct contact with children, young people or vulnerable adults on joining the Company and at least every 3 years thereafter. Financial sustainability- Longer term sustainability will be attained through staying focussed on the business environments in which we work. Key to this is being prepared for changes to the way government funds our areas of work. Internal control risks are minimised by the establishment of robust management reporting and review processes and procedures for authorisation of all transactions and projects. Health and Safety of all stakeholders These risks are managed by having robust policies and procedures in place, and regular awareness training for staff. All staff undertake health and Safety training as part of a number of core courses as part of their continuing professional development. These also include f ire safety and manual handling. Changes to regulatory requirements - As the charity increases in scale the impact of regulatory compliance requirements across the multiple frameworks within which we operate becomes more complex. In order to manage these risks an internal audit capability is to be introduced to ensure the board has assurance that these requirements are fully understood and being met. In accordance with the Housing Act 1996 the Charity sets out internal control procedures to protect its assets and also regularly carries out an audit of its rent accounting system. Pension liabilitles YMCA Derbyshire is no longer a participating employer of the YMCA Pension and Assurance Plan and has no further obligations or liabilities to that plan. Responding to needs YMCA Derbyshire regularly researches, develops and consults with it5 Stakeholders to ensu re that its services are relevant to the needs of individuals and communities using the following methods: Policy research Partnership networking Annual stakeholder events Regular one to one reviews with service users Residents. reference group and learner forum Satisfaction questionna ires Initial needs assessments to identify key support needs and to provide a starting point from which to measure progress bl dl fl STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees (who are also directors of YMCA Derbyshirel are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. The Trustees are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. The financial statements are required by law to give a true and fa ir view of the state of affairs of the charitable company and of its incoming resources and application of resources of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently; 13 YMCA DERBYSHIRE REPORT OF THE TRUSTEES YEAR ENDED 31 JULY 2024 make judgements and estimates that are re350nable and prudent- Observe the methods and principles in the Charities SORP 2019 IFRS 1021 and the Housing SORP Statement of Recommended Practice for Registered Social Housing Providers 2018 ISORPI, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2019. state whether applicable UK Accounting Standards have been followed, subject to any material depa rtures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time, the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS In so far as the Trustees are aware there is no relevant audit information las defined by section 418 of the Companies Act 20061 of which the charitable company's auditors are unaware and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. APPROVAL This report was approved by the Board of Trustee5 on 19 December 2024 and signed on its behalf by.. mith Registered Office: 770 London Road, Derby DE24 8UT 14 YMCA DERBYSHIRE INDEPENDENT AUDITOR REPORTTO THE MEMBERS OF YMCA DERBYSHIRE Opinion We have audited the financial statements of YMCA Derbyshire Ithe'parent charit(l and its subsidiaries (the 'group'l for the year ended 31 July 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finonciul Reporting Standard applicoble in the UK and Republic of Irelond (U nited Kingdom Generally Accepted Accounting Practice}. In our opinion the financial statements: give a true and fair view of the state of the Group's and of the parent charity's affairs as at 31 July 2024 and of its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, report thereon. The directors are responsible for the other information contained within the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 15 YMCA DERBYSHIRE INDEPENDENT AUDITOR REPORTTO THE MEMBERS OF YMCA DERBYSHIRE Our responsibility IS to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financia l year for which the financial statements are prepared is consistent with the financial statements; and the Report of the Trustees have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Group and parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing 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 records have not been kept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us; or • the parent charity financial statements are not in agreement with the accounting records and returns; or • certain disclosures of directors, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responsibilities of the board As explained more fully in the Statement of the Directors, responsibilities, as set out on page 13 and 14, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the board determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the board is responsible for assessing the Group's and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the board either intends to liquidate the Group or the parent charity or to cease operations, or have no realistic alternative but to do so. 16 YMCA DERBYSHIRE INDEPENDENT AUDITOR REPORTTO THE MEMBERS OF YMCA DERBYSHIRE Auditorfs re5ponsibillties for the audit of the financtal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are considered material if, individualty or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements In respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows." the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the group and the charity company through discussions with directors and other management, and from our commercial knowledge and experience of the sector; we focused on specific laws and regulations which we considered may have a direct rnaterial effect on the financial statements or the operations of the group and the charity, including the financial reporting legislation, Companies Act 2006, taxation legislation, anti-bribery, employment, and environmental and health and safety legislation; we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence: and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of maTragement as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions. assessed whether judgements and assumptions made in determining the accounting esttmates set out in Note I were indicative of potential bias. and investigated the rationale behind significant or unusual transactions. 17 YMCA DERBYSHIRE INDEPENDENT AUDITOR REPORTTO THE MEMBERS OF YMCA DERBYSHIRE In response to the risk of irregularities and non-compliance with laws and regulations, we desiEned procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigation and claims; and reviewing correspondence with HMRC, relevant regulators and the company's legal advisors; Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealrnent, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the chariVs members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chaTity'S members as a body, for our audit work, for this report, or for the opinions we have formed. Jonathan Dudley (Senior statutory auditor) for and on behalf of Dains Audit Limited Statutory Auditor Chartered Accountants Suite 2 Albion House 2 Etruria Office Village Forge Lane Stoke on Trent STI 5RQ 18 YMCA DERBYSHIRE Consolidated Income and Expenditure Account st Year ended 31 July 2024 Year to July 2024 Year to July 2023 Notes Income Operating Costs 7,186,400 6,544,026 (6,619,485) (5,378,246) Operating surplus/(deficit) 566,915 1,165,780 Surplus on disposal of Propertyi Plant, and equipment Interest receivable Interest payable 3,340 27,646 (48,094) 23,748 9,644 (33,445) Surplus/(deficit) on ordlnary activitles for the year 549,807 1,165,727 other comprehensive Income Property revaluation gains and losses 95,000 1,260,727 549,807 All of the activity above relates to continuing activities. This page shows the consolidated results for YMCA Derbyshire in the format required by the Companies Act 2006, The Statement of Recommended Practice for Registered Providers of Social Housing 2018 and The Accounting Direction for Private Registered Providers of Social Housing 2022, 19 YMCA DERBYSHIRE Consolidated Statement of Financial Artivities st Year ended 31 July 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME Donations and legacies 85,522 282,218 367,740 1,365,543 Income from charltable actFVities Housing Youth and Communities Key College and other learning Early Years education Y Kidz 3,579,350 3,579,350 918,931 1,055,669 861,151 274,353 3,244,299 317,880 625,862 649,093 276,574 918,931 500,037 861,151 52,394 555,632 221,959 Income from other trading activities Commercial trading activitie5 Investment income 71,064 27,646 58,141 129,205 27,646 64,775 9,644 Total Incoming resources Expenditure Costs of raising funds Fundraising costs Costs of other trading activities Charitable artivlties Housing Youth and Communities Key College and other learning Early Years education Y Kidz Total resources expended Net incomellexpendlture) before transfers Gross transfers between funds Net incomel(expenditure) before other recognlsed gains andlosses 4,541,173 2,672,872 7,214,045 6,553,670 66,927 27,002 65,061 89,221 131,988 116,223 68,045 54,901 3,450,551 95,710 767,489 3,450,551 551,831 1,266,409 858,207 289 029 6,664,238 2,959,364 465,497 822,390 701,159 316 587 5,387,943 456,121 498,920 858,207 248 449 4,656,128 2,008,110 (114,955) 664,762 549,807 1,165,727 (96,095) 645,902 549,807 1,165,727 Other recognlsed gains and losses Property revaluation gains/{losses} 95,000 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD (96,095) 645,902 549,807 1,260,727 4 682 784 4 586,609 711 676 1 357 578 5 394 460 5,944 267 4 133 733 5,394 460 20 YMCA DERBYSHIRE Charity Statement of Financial Activities st Year ended 31 July 2024 2024 Total funds 2023 Unrestricted funds Restricted funds Total funds Notes INCOME Donations and legacies 85,522 282,218 367,740 1,171,715 Income from charitable activities Housing & Support Youth and Communities Key College and other learning Y Kidz Other 3,579,350 3,579,350 918,931 1,055,669 274,353 3,244,299 329,455 625,862 276,574 918,931 500,037 52,395 555,632 221,958 Income from other trading activities Commercial trading activities Investment income Income from Group cos. 71,064 27,646 53,041 71,064 27,646 53,041 64,775 9,644 77,251 Total incoming resources 4,594,213 1,753,581 6,347,794 5,799,575 Expenditure Costs of raising funds Fundraising costs Costs of other trading activities Charitable activities Housing & Support Youth and Communities Key College and other learning Y Kidz 66,927 27,002 65,061 131,988 27,002 68,045 54,901 3,445,679 108,030 767,489 248,449 50,000 4,713,576 3,445,679 581,224 1,266,409 289,029 50,000 5,791,331 2.959,364 456,305 822,390 316,587 473,194 498,920 40,580 Donations to group companies Total resources expended 50,000 4,727,592 1,077,755 Net income/(expenditure) before transfers Gross transfers between funds Net income/{expenditure) before other recognised gains and losses 1119,363) 18,860 675,826 118,8601 556,463 1,071,983 {100,5031 656,966 556,463 1,071,983 Other recognised gains and losses Property reva luation gains/llossesl 95,000 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD (100,503) 656,966 556,463 1,166,983 4,696,791 4,596,288 603,925 1,260,891 5,300,716 5,857,179 4,133,733 5,300,716 21 YMCA DERBYSHIRE Consolidated Balance Sheet st At 31 July 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 5,440,777 5,077,194 10,517,971 7,598,002 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 6,947 793,078 332,499 1,132,524 6,947 1,272,827 730,798 2,010,572 6,761 772,542 2,550,386 3,329,690 io 479,749 398,299 878,048 CREDITORS Amounts falling due within one year 11 {813,5141 {309,6461 11,123,160) {1,148,415} NET CURRENT ASSETS 319,010 562,402 887,412 2,181,275 TOTAL ASSETS LESS CURRENT LIABILITIES 5,759,787 5,645,596 11,405,383 9,779,277 CREDITORS Amounts falling due after more than one year Government grant5 12 14 (1,173,098) 110,522) {4,277,4961 {1,183,620} {4,277,4961 1574,7691 13,810,048} NET ASSETS 4,586,689 1,357,578 5,944,267 5,394,459 FUNDS Unrestricted funds Restricted Reserves 4,586,689 1,357,578 5,944,267 4,682,784 711,676 5,394 460 TOTAL FUNDS 15 The Financial Statements were approved by the Board of Trustees on 19th December 2024 and were signed on its behalf by:_ Chairl Ven M Trick (Treasurer) Company registered number 3061837 The Notes form part of these Financial Statements 22 YMCA DERBYSHIRE Charity Balance Sheet St At 31 July 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets Investments 1,156,388 3,817,850 4,974,238 4,649,840 1,156,392 3,817,850 4,974,242 4,649,844 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 6,947 4,935,325 332 422 5,274,694 6,947 5,372,237 699 911 6,079,095 6,761 2,158,517 2 493 617 4,658,896 10 436,912 367 489 804,401 CREDITORS Amounts falling due within one year li (661,700) (149,959) (811,659) (767,471) NET CURRENT ASSETS 4,612,994 654,441 5,267,436 3,891,425 TOTAL ASSETS LESS CURRENT LIABILITIES 5,769,386 4,472,291 10,241,677 8,541,269 CREDITORS Amounts falling due after more than one year Government grants 12 14 (1,173,098) (1,173,098) (3,211,400) (554,103) (2,686,450) (3,211,400) NEf ASSETS 4 596 288 1,260 891 5 857 179 5 300 716 FUNDS Unrestricted funds Restricted Reserves TOTAL FUNDS 4,596,288 1 260 891 4,696,791 603 925 15 5,857,179 5,300,716 The Financial Statements were approved by the Board of Trustees on 19th December 2024 and were signed on its behalf by:" P Smith (Chair) Ven M Trick (Treasurer) Company registered number 3061837 The Notes form part of these Financial Statements 23 YMCA DERBYSHIRE Consolidated Statement of Cashflows st Year ended 31 July 2024 Year ended 31st July 2024 Year ended 31st July 2023 Notes Cash provided by operating activities 17 661,560 5,366,519 Cash flows from investing activities Interest income Receipts from the sale of tangible fixed assets Purchase of tangible fixed assets Cash used in investing activities 27,646 9,644 328,340 3 425,428 141,458 3 706,285 (3,069,442) (3,555,183) Cash flows from financing activlties Interest paid Repayment of borrowings Drawdown of borrowings Cash used in financing activities (48,094) (38,612) 675 000 (33,445) (39,253) 588,294 (72,698) Increase/(decrease) in cash and cash equivalents in the year (1,819,588) 1,738,637 Cash and cash equivalents at the beginning of the year 2,550,386 811,749 Total cash and cash equivalents at the end of the year 730 798 2 550 386 24 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 I. ACCOUNTING POLICIES YMCA Derbyshire (the 'company'} is a Registered private company limited by guarantee under the Companies Act 2006 incorporated and domiciled in England (registered office: 770, London Road, Derby, DE24 8UT; Company registered number.. 3061837; charity number: 10499041. The principal accounting policies are summarised below. They have all been applied consistently throughout the year and to the preceding period. General information and basis of accounting These financial statements present consolidated information for the group alongside information for the Charity as an individual undertaking. The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet consolidate the financial statements of the charity and its subsidiary undertaking. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, in accordance with FRS102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" issued by the Financial Reporting Council and comply with the Statement of Recommended Practice- Accounting and Reporting by Charities12019) and the Companies Act 2006. A5 a Registered Provider of Social Housing disclosures required by the Statement of Recommended Practice for Registered Social Housing Providers 2018 ISORP}, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022 have also been included where applicable to the housing operations of the Cha rity. Public benefit entity YMCA Derbyshire meets the definition of a public benefit entity under the Charities SORP. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s}. Preparation of the accounts on a going concern basis YMCA Derbyshire reported a cash outflow for the year of £1,819,588 primarily due to planned capital expenditure and at 31 July 2024 was holding £730,798 in cash balances. Based on projections for the next year, the Trustees are of the view that the amount of cash reseNes held secure the immediate future of the Charity and on that basis the Charity is a going concern. Incoming resources Incoming resources are included on the Statement of Financial Activities when the Charity has full legal entitlement and the amount can be quantified with reasonable accuracy. Rents and service related income All service related income is accounted for as it is ea rned. Social housing grant and other government grants Where grants are received from government agencies such as Homes England, local authorities, devolved government agencies, health authorities and the European Commission, which meet the definition of government grants they are recognised when there is reasonable assurance that the conditions attached to them will be complied with and that the grant will be received. 25 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 I. ACCOUNTING POLICIES (continued) Incoming resources (continued) The cost of housing developments financed wholly or partly by grants have been revalued to their market valuation and the grant value taken to reserves. This is in accordance with The Statement of Recommended Practice for Registered Social Housing Providers 2018. grants Grants received related to freehold housing property are recognised as revenue using the performance model. Grants received relating to leasehold property are recogni5ed as revenue using the accruals method. Volunteers We benefit from time given by a number of volunteers across the different services that we offer. In accordance with the Charities SORP, the time offered by these volunteers is not recognised and refer to the Report of the Trustees for more information about their contribution. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to an activity on a basis consistent with the use of the resources. Expenditure is classified under the following activity headings: Costs of raising funds comprise the costs of commercial trading and its associated support costs and the cost of fundraising for the Charity, alongside their associated support costs. Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the Charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Allocation of su Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support cost5 include finance. HR. IT, facilities and governance costs which support the Charit(s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in Note 4. ort costs Tangible flxed assets Freehold land and buildings Where a valuation is available properties are held at their open market value. Properties held for their social benefit are not held solely for the cash inflows they generate and are held for their service potential. An assessment is made at each reporting date as to whether an indicator of impairment exists. If such an indicator exists, an impairment assessment Is carried out and an estimate of the recoverable amount of the asset is made. Where the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognised in surplus or deficit in the Income and Expenditure Account. An impairment 1055 is reversed if the reasons for the impairment loss have ceased to apply and included in surplus or deficit in the Income and Expenditure Account. 26 YMCA DERBYSHIRE Notes to the Financial statement5 st Year ended 31 July 2024 I. ACCOUNTING POLICIES {contlnued) Leasehold property Where owned property is situated on leased land the property is included in the accounts at build cost less depreciation with the depreciation spread over the shorter of useful life of the asset or the life of the land lease. Other assets Assets are capitalised if they cost more than £500. Depreciation is provided in order to write off each asset over its estimated useful life. The following annual rates are in use for the assets within the balance sheet: Motor cars 25% straight line 33 % stra ight line 20Yo 33% straight line 5% - 33% straight line Motor vans Computer equipment Fixtures and fittings Depreciation is charged on assets from the date they become operational. Assets under construction are not depreciated. Investments Fixed asset investment5 in subsidiaries and associated companies are included at the lower of cost or fairvalue. Stocks Stocks are stated at the lower of cost and net realisable value. Pension costs YMCA Derbyshire operates contributory stakeholder pension schemes for all employees and contributions are charged to the Income and Expenditure Account as they fall due. Financial instruments Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial assets carrled at amortised cost Financial assets carried at amortised cost comprise rent arrears, trade and other receivables and cash and cash equivalents. Financial assets are initially recognised at transaction value plu5 directly attributable transaction costs. After init131 recognition, they are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. If there is objettive evidence that there is an impairment loss, the amount of the loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the financial assevs origin31 effective interest rate. The carrying amount of the asset is reduced accordingly. A financial asset is derecognised when the contractual rights to the cash flows expire, or when the financial asset and all substantial risks and reward are transferred. Financial liabllltles carried at amortised cost These financial liabilities include trade and other payables and interest bearing loans and borrowings. 27 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 ACCOUNTING POLICIES (continued) Non-current debt instruments which meet the necessary conditions in FRS 102 are initially recognised at transaction value adjusted for any directly attributable transaction cost and subsequently measured t amorti5ed cost using the effective interest method, with interest-related charges recognised as an expense in finance costs in the Income and Expenditure Account. Discounting is omitted where the effect of discounting is immaterial. A financial liability is derecognised only when the contractual obligation is extinguished, that is, when the obligation is discharged, cancelled or expires. On long term lending, the interest rate to be charged is ca Iculated by reference to the interest rates, margins and banking charges within the loan agreements with the funders, on the day the loan is made. Fund atcounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by a donor or when funds are raised for a specif ic restricted purpose. A designated fund is maintained to provide for planned maintenance and extraordinary repair and improvement ofthe housing properties. Other designated funds are maintained to support strategic housing development alongside maintaining fund5 to support residents and students as they seek to move on. Basis of consolidation The financial statements consolidate the accounts of YMCA Derbyshire and its subsidiary undertakings 1'5ubsidi3ries'l. The income and expenditure account for the year dealt with in the accounts of the charity was a surplus of £556.463. Interest payable Borrowing costs are interest and other costs incurred in connection with the borrowing of funds. Borrowing costs are calculated using the effective interest rate, which is the rate that exactly discounts estimated future cash payments or receipts through the expected life of a financial instrument and is determined on the basis of the carrying amount of the financial liability at initial recognition. Under the effective interest method, the amortised cost of a financial liability is the present value of future cash payments discounted at the effective interest rate and the interest expense in a period equals the carrying amount of the financial liability at the beginning of a period mukiplied by the effective interest rate for the period. Taxatlon No provision is made for taxation as the company is a Charity entitled to the various exemptions afforded by the Corporation Tax Act 2011. No tax liability is anticipated for non charitable subsidiary companies. Value added tax (VATI YMCA Derbyshire Ltd is not registered for VAT due to taxable income being under the required threshold. All expenses are processed inclusive of VAT charged on the supplies received. 28 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 I. ACCOUNTING POLICIES (continued) Value added tax (VAT) {continued} The subsidiaries YMCAD Property Development Ltd and Padley trading Ltd are separately registered for VAT and so process income and expenditure net of VAT. Leased assets At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement. eratin leased assets Leases that do not transfer all the risks and reward5 of ownership are classified as operating lease5. Payments under operating leases are charged to surplus or deficit in the Income and Expenditure Account on a straight-line basis over the period of the lease. Significant management judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Significant management judgements The following are management judgements in applying the accounting policies of the company that have the most significant effect on the amounts recognised in the financial statements. Impairment of social housing properties The company has to make an assessment as to whether an indicator of impairment exists. In making the judgement, management considered the detailed criteria set out in the Housing SORP. Estimation uncertainty The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial yea r are addressed below. Fair value measurement Management uses valuation techniques to determine the fair value of property assets held at valuation. This may involve developing estimates and assumptions consistent with how market participants would price the instrument. Management base the assumptions on observable data as far as possible. In that case, management uses the best information available. Property values in these accounts are based on professional valuations undertaken at or close to the reporting date. 29 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 REGISTERED SOCIAL LANDLORD ACTIVITIES Particulars of income from social housing lettings Year to 31st July 2024 Operating costs Turnover Operating surplus Social housing lettings Inote 2bl Other social housing activities 3,579,350 {3,450,551) 128,799 3,579,350 3,634,695 7,214,045 {3,450,5511 {3,213,6871 {6,664,2381 128,799 421,008 549,807 Activities other than social housing activities Year to 31st July 2023 Operating costs Turnover Operating surplus Social housing lettings {note 2b) Other social housing activities 3.244,299 12,959,364) 284,935 3,244,299 3,309,371 6,553,670 12,959,364) 12,428,579) (5,387,943) 284,935 880,792 1,165,727 Activities other than social housing activities b. Particulars of income & expenditure from social housing lettings 2024 2023 Rent receivable net of identifiable service charges Service charge5 receivable 1,485,072 2,094,278 1,458,420 1,785,878 Gross rents receivable 3,579,350 3,244,299 Turnover from social housing lettings Management Rent payable Services Routine Maintenance Bad Debts (Rent Losses) Depreciation {Profit)/loss on sale of social housing property Other Costs 3,579,350 3,244,299 1,360,347 629,081 467,823 303,260 72,532 44,595 1,116,909 535,584 470,707 282,469 108,271 55,404 {23,748} 413,769 572,913 Operating costs on social housing lettings 3,450,551 2,959,364 Operating surplus on social housing lettings 128,799 284,935 Rent losses from voids {222,588) 1317,671) 30 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 Registered social housing units At 1st August 2023 Additions Disposals At 31st July 2024 212 18 1321 198 3. INCOMING RESOURCES Incoming resources were derived 100% from within the United Kingdom12023'. 100%). Unrestricted Restricted 2024 Incoming resources from generated Funds: Voluntory income.. Donations and gifts Sleepeasy Padley- Community fund Foundry Point Other Donations 32,905 32,905 193,819 70,109 70,907 193,819 70,109 18,290 52,617 Activities for generatingfunds.. Hospitality and room hire income Charity shop Investment income 71,063 71,063 58,142 27,646 58,142 27,646 Incoming resources from charitable Activities: Housing Turnover from lettings Youth and Communities Youth and Communities grants Key College ond other learning ESFA contract linc Bursarynuition fund) Alternative Provision Adult education courses Other training income Early years educotion Y Kidz 3,579,350 3,579,350 918,931 918,931 367,953 186,680 27,243 395,195 186,680 451,977 21,817 861,151 274,353 7,214,045 451,977 20,817 861,151 52,394 2,672,873 1,000 221,958 4,541,172 Total Incoming Resources 31 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 3. INCOMING RESOURCES (continued) Unrestricted Restricted 2023 In¢oming resources from generated Funds: Voluntary income.. Donation5 and gifts Sleepeasy Padley - Capital fund Padley- Communityfund Foundry Point Other Donations 26,723 26,723 266,577 200,019 loo,000 772,223 266,577 200,019 loo,000 146,539 625,685 Activities for generutingfunds.. Hospitality and room hire income Investment income 64,775 9,644 64,775 9,644 Incoming resources from charitable Activitles: - Housing Turnover from lettings Youth t7nd Communities BBO grants Support work Key College and other learning ESFA contract linc Bursarynuition fund) Alternative Provision Other training course income Eorly years educotion Y Kidz Total Incoming Resources 3,244,299 3,244,299 116,985 89,742 116,985 200,895 111,153 351,080 140,120 1,974 25,549 376,629 140,120 109,114 649,093 276 574 107,139 649,093 239 632 4 815 084 1 738 586 6 553 670 32 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 4. RESOURCES EXPENDED Direct Staff Costs Other direct costs Support Costs Total 2024 Total 2023 Charitable Activities Housing Youth and communities Training and Education Early Years Education Children and Young People 649,612 2,312,744 307,297 191,729 742,434 421,185 628,062 230, 145 190,823 58,533 488,195 3,450,551 52,805 551,831 102,790 1,266,409 858,207 289,029 2,959,364 465,497 822,390 701,159 316,587 39,673 Non Charitable Activities Fundra ising Costs of other trading activities 81,566 12,954 37,468 131,988 68,045 30,400 78,541 7,282 116,223 54,901 Total Costs 2,630,194 3,305,831 728,213 6,664,238 5,387,943 SURPLUS FOR THE YEAR The surplus of income over expenditure 15 Stated after charging: 2024 2023 Auditor remuneration - in their capacity as auditor Depreciation of tangible fixed assets (owned by the company} Profit/{loss) on sale of Fixed Assets Rent losses from bad debts Operating leases: Land and Buildings 26,581 101,137 1465) 72,532 778,064 18,000 139,565 23,748 108,271 600,147 STAFF COSTS The average monthly number of persons employed by the group during the period was.. Employee Numbers Fundraising Activities Charitable Activities Management 2024 2023 158 135 167 142 33 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 STAFF COSTS (continued) 2024 2023 Employee Costs Wages and Salaries Social Security Costs Pension Costs 3,183,136 245,612 208.023 3,636,771 3,915 3,640,686 2,544,317 193,960 171,148 2,909,425 37,351 2,946,776 Restructuring costs None of the Charity Trustees received any remuneration in the period12023: nil). No Charity Trustees received re-imbursement for out of pocket expenditure12023'. nill. Two employees earned more than £60,000 {exclusive of company pension and national insurance contributions) in the year (in the following bandsl'_ 2024 2023 £60,001- £70,000 £70,001- £80,000 £80,001- £90.000 £90,000- £100,000 The Accounting Direction for Registered Providers of Social Housing 2019 extends the statutory definition of director to include the chief executive and the senior management team of the Charity. The aggregate amount of emoluments payable (including company pension and National insurance contributions) in respect of the chief executive and senior management team in the period was £399,87412023: £336,286), which includes pension costs of £31,405 12023- £26,978} in money purchase schemes. These are considered to be the key management personnel of the organisation. The highest paid employee during the year was the Chief Executive. The aggregate amount of emoluments payable lincluding company pension and National insurance contributions) in respect of the Chief Executive in the period was £114,942 12023.. £102,213) which includes pension contributions of £13,635 to a defined contribution scheme 12023.. £12,130). The Chief Executive had overall responsibility for the running of the day to day affairs of the group and the company. 7. INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023 Bank loans 48,094 33,445 34 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 8. TANGIBLE FIXED ASSETS Consolidated f ixed assets At At 31st July 2024 1st August 2023 Additions Disposals COST OR VALUATION Freehold property (Social Housing) Freehold property (Non Housing) Net Cost of freehold property Leasehold Property {Early Years) Motor vehicles Computer equipment Fixtures and fittings Asset under construction 2,861.990 978,510 3,840,500 1,326,294 56,029 469,137 597,370 2,288,471 8,577,802 2,861,990 1,240,404 4,102,394 1,326,294 59,101 418,530 701,231 4,964,463 11,572,013 586,894 586,894 1325,0001 1325,0001 24,572 34,109 103,861 2,675,992 3,425,428 (21,500) {84,716} {431,216) DEPRECIATION Leasehold Property {Early Years) Motor vehicles Computer equipment Fixtures and fittings 54,250 39,414 395,747 490,389 979,799 65,100 15,820 47,962 48,703 177,585 119,350 36,608 358,993 539,091 1,054,042 118,625) {84,7161 (103,3421 NET BOOK VALUE Freehold property (Social Housing) Freehold Property {Non Housing) Freehold Property (Early Years) Motor vehicles Computer equipment Fixtures and fittings Asset under construction 2,861,990 978,510 1,272,044 16,615 73,391 106,982 2,288.471 7,598,003 4,447,689 1,240,404 1,206,944 22,493 59,537 162,140 3,378,764 10,517,971 35 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 8. TANGIBLE FIXED ASSETS {continued) Charity fixed assets At At 31st July 2024 1st August 2023 Additions Disposals COST OR VALUATION Freehold property (Social Housing) Freehold property (Non Housing) Net cost of freehold property Motor vehicles Computer equipment Fixtures and fittings Asset under construction 2,861,990 978,510 3,840,500 2,861.990 1,240,404 4,102,394 586,894 586,894 1325,0001 1325,000) {21,5001 (84,7161 56,029 457,105 569,260 648,903 5,571,796 19.700 33,639 77,133 31,171 748,538 54,229 406,028 646,393 680,074 5,889,118 1431,2161 DEPRECIATION Land and buildings Motor vehicles Computer equipment Fixtures and fittings 39,414 392,340 490,202 921,956 10,947 43,936 41,381 96,264 118,625) 184,716} 31,736 351,560 531,583 914,879 (103,341) NET BOOK VALUE Freehold property (Social Housing) Freehold Property (Non Housing) Motor vehicles Computer equipment Fixtures and fittings Asset under construction 2,861,990 978,510 16,615 64,765 79,058 648,903 4,649,840 2,861,990 1,240,404 22,493 54.468 114,810 680,474 4,974,238 Land and buildings Social housing properties - The London Road site was valued by Lambert Smith Hampton (Chartered Surveyors) on an open market basis on 31" July 2021. A major refurbishment of Douglas Court and Hilton Court on the London Road site was in progress at 31"July 2024 with works completed during August 2024. Non housing properties-The Osmaston Road site was sold in August 2023 for £325,000 with the property revalued to this amount from £230,000 at 31" July 2023. The purchase of the Parcel Terrace site was completed in December 2023 for £420,000 with refurbishment work on going at 31. July 2024. The historic cost of freehold land and buildings is £5,089,500. Leasehold property- The property at St Marks Road, owned by Derwent Stepping Stones, is built on leased land owned by Derby City CounciS. This property is included in the accounts at build cost less depreciation with the component depreciation spread over up to 50 years. The Asset under construction reflects costs incurred in the development of flats at Cotton Lane in Derby. The Net book value of assets that are providing security for the Nat West Bank Loan is £3,425,000. 36 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 9. INVESTMENTS IN SUBSIDIARIES Shares in Group cos. Total At 1st August 2023 Additions Disposals Provision for gains/llosses} At 31stJuly 2024 YMCAD Property Development Limited, a private company limited by shares, was incorporated in th Great Britain on 13 October 2020 and is a wholly owned subsidiary. The company principally involved in the development of new property for the Charity and incurred costs in the period towards the development of flats at Cotton Lane in Derby andthe refurbishment of Douglas Court and Hilton Court. PadleyTrading Ltd, a private company limited byshares, is 3 whollyowned subsidiary. The shares were donated to the Charity by The Padley Group on merger. 10.DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Charity 2024 Group 2023 Charity 2023 Rental debtors Provision Net Rental debtors Other debtors Amounts owed by group companies Prepayments and accrued income 425,648 425,648 1161,275) {161,2751 264,373 264,373 309,102 207,657 4,219,545 680,662 5,372,237 361,090 187,3551 273,735 181,823 354,587 184,5631 270,023 165,662 1,395,545 316,984 327,287 772,542 2,158,517 699,352 1,272,827 No disclosure has been made of the net present value of rental arrears subject to repayment plans as the amount is considered to be insignificant. 11.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Charity 2024 Group 2023 Charity 2023 Bank Loan Trade Creditors Taxation and Social Security Other Creditors Accruals Deferred income 67,457 272,854 48,425 423 679,048 54,953 1,123,160 57,227 39,921 235,053 631,177 52,381 66,038 462 1,081 411,584 334.470 54,953 75,729 811,660 1,148,415 29,845 278.441 57,049 733 325,673 75,729 767,471 37 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 11.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR {Continuedl For details of security provided for the bank loan see Note 12. The deferred income movement is as follows:_ 2024 2023 Deferred income at l August 2023 Released to income during the year Income received in the current year deferred Deferred income at 31 July 2024 75,729 132,903 175,729) 1132,903) 54,953 75,729 54,953 75,729 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group 2024 Charity 2024 Group 2023 Charitv 2023 Bank Loans 1,183,621 1,173,098 574,769 554,103 The Bank Loan in YMCA Derbyshire is secured by a first legal charge over the freehold land and buildings at 770 London Road, Derby and represents 18Yo of the value of the charged property. Interest is charged on the Bank Loan at a rate of 2% over base rate. The bank loan in Derwent Stepping Stones comprises a 2.5% fixed rate loan totalling £50,000 repayable by equal in5t3lments by June 2026, following a 12 month capital repayment holiday. The Bank Loans are repayable in instalments as follows: Group 2024 Charity 2024 Group 2023 Charity 2023 In the next year Between one and two years Between two and five years Over five years 67,457 66,451 195,018 922,152 1,251,078 57,227 55,926 195,018 922,154 1,230,326 39,921 42,139 120,733 411,897 614,690 29,845 31,911 110,161 412,031 583,948 13. MOVEMENT IN NET DEBT Asatl August 2023 Other non cash changes Cashflows Asat31 July 2024 Cash and bank 2,550,386 11.819,5881 730.798 Bank loan within l year Bank loan over I year 139,9211 11,880 1574,7691 1648,2681 1,935,696 (2,455,976) 139,4161 167,457} 39,416 11,183,621} (520,280} 38 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 14. GOVERNMENT GRANTS Group 2024 Charity 2024 Group 2023 Charity 2023 Homes England (Cotton Lane Development) Homes Eng13nd (Douglas Court/Hilton Court} Various grants (St Mark5 Road Nurseryl Total Government grants 2,686,450 524,950 1,066,096 4,277,496 2,686,450 524,950 2,686,450 2,686,450 1.123,598 3,810,048 2,686,450 3,211,400 Asatl August 2023 Grants received Grants Asat31 amortised July 2024 Homes England grant (Cotton Lane Development) Homes England IDouglas CourtlHilton Courtl Various grants 1st Marks Road Nursery) Total Government grants 2,686,450 2,686,450 524,950 {57,502} 1,066,096 157,502) 4,277,496 524,950 1,123,598 3,810,048 524,950 39 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 15.CONSOLIDATED STATEMENT OF FUNDS Statement of funds at 31"July 2024 At 1st August 2023 At 31" Julv 2024 Net Movement Transfers Unrestricted funds: General reserve 4,117,013 184,0851 261,012 4,493,940 Designated fund5 Planned Periodic Maintenance - Campus Planned Periodic Maintenance - The Glebe Revaluation reserve Residents fund Learners Fund Utilities fund Strategic Development Fund Total designated funds Total unrestricted funds 329,551 20,100 114,774 1,043 303 80,000 20.000 565,771 117,3331 190,0001 9,948 195.0001 2,000 222,218 30.048 19.774 406 303 12,6371 180,0001 10,900 1242,1521 18,860 110,9001 130,8701 1114,9551 20,000 292,749 4,682,784 4,586,689 Restricted funds: Youth Alliance YMCA England- Move on fundlRoom Sponsor Youth and Communities fund Allotment5 fund Residents fund Cadent fund Allotment as50Clation funds Oerbyshire Community Health UKSPF - Green Connector Community Action - Wellbeing MinibLlS fund Padley@YMCA- Propertyfund Padley@YMCA- Community fund Derby homes- Resilience grant Warm welcome grant- Padley NGEDgrant- Padley Homes England - Foundry Point build Foundry Point fit out Garfield Weston Foundation YSS general funds Learners fund UKSPF Thriving futures Multiplier grant Heritage Lottery fund Mentoring Project Taking Teaching further grant Mental health lead grant HAF project EFA Bursary Fund ESFA Tuition fund 1,500 7,911 9,003 8,514 1,500 17,9111 19,0031 8,514 663 3,280 14,956 10,607 570 266,577 167,134 16631 13.2801 17,8661 110,6071 18,290 681,896 1108,5761 26,500 7,090 118,860} 948,473 58,558 26,500 70,109 70,109 loo,000 96,687 2,000 loo,000 93,743 2,000 2,944 10,608 14,608 11,814 1,117 22,422 15,725 Total restricted funds 711,676 664,763 118,8601 1,357,578 Total funds 5,394,460 549,807 5,944,267 40 YMCA DERBYSHIRE Notes to the Financial statements 5t Year ended 31 July 2024 Statement of funds at 31° July 2023 1st August 2022 Net Movement 31stJuly 2023 Transfers Unrestrirted funds: General reserve Designated funds Planned Periodic Maintenance - Campus Planned Periodic Maintenance - The Glebe Revaluation reserve Residents fund Learners Fund Utilities fund Strategic Development Fund Total designated funds Total unrestrirted funds 3,610,448 747.221 1240,6551 4,117,013 326,143 126,5921 9,945 30,000 10,155 95,000 3,000 329,551 20,100 114,774 1,043 303 80,000 20,000 565,771 4,682,784 19,774 2,003 303 13,9601 80,000 22,500 240,655 12,000 360,222 3,970,670 114,5001 135,1071 712,114 Restricted funds: Fundraiser Residents fund Children in Need - Employability Youth Alliance BBO Grants YMCA England- Move on fund/Room Sponsor Youth and Communities fund Allotments fund B & Q grant lallotmentsl NHS grant lallotmentsl Asda lallotments} YMCA England - allotments Allotment association funds Warm welcome grant Derbyshire Community Health UKSPF- Green Connector Community Action - Wellbeing Minibus fund Padley@YMCA- Propertyfund Padley@YMCA- Community fund Homes England - Cotton Lane build Garfield Weston Foundation YSS general funds YSS Warm Hub grant Learners fund UKSPF Thriving futures Multiplier grant Heritage Lottery fund Kickstart Derby College- Transition mentorin8 Derbyshire County Council Community action - Transition Mentoring HAF project EFA Bursary Fund ESFA Tuition fund Total restricted funds Total funds 1,913 11,9131 1,844 11,8441 1,500 1,500 7,911 184,9961 13,9861 12,5281 12,0641 17171 17941 663 7,911 9,003 8,514 93,999 12,500 2,528 2,064 717 794 663 3,280 14,956 10,607 570 266.577 167,134 3,280 14,956 10,607 570 266,577 167,134 loo,000 93,743 100,000 93,743 2,000 2,000 2,250 12,2501 5,185 26,022 13,246 15,1851 115,4141 1,362 10,608 14,608 163,063 4,133,733 548,613 1,260,727 711,676 5,394,460 41 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 15.CONSOLIDATED STATEMENT OF FUNDS (continued) Fund movements- Year to July 2024 Other recognised Gains & Losse5 £'ooo Net Movement £'ooo Incoming £'ooo Outgoing £'ooo Unrestricted funds: General reser4e Deslgnated funds Planned Periodic Maintenance Planned Periodic Maintenance - The Glebe Revaluation reserve Residents fund Learners Fund Utilities fund Strategic Development Fund Total designated funds Total unrestricted fund5 4,541,173 14,625,258) 184,0851 117,3331 117,3331 12,6371 12,6371 110.9001 130,8701 14,656,128) 110,9001 130,8701 1114,9551 4,541,173 Restricted funds: Youth Alliance YMCA England- Room Sponsor Youth and Communities f und Allotments f und Residents fund Cadent fund Allotment association funds Derbyshire Community Health UKSPF - Green Connector Community Action - Wellbeing Minibusfund Padley@YMCA- Propertyfund Padley@YMCA- Community fund Derby Homes- Resilience grant Warm welcome grant- Padley NGEDgrant- Padley Homes England - Foundry Point build Foundry Point fit out Garfield Weston Foundation YSS general funds Learners fund UKSPF Thriving futures Multiplier grant Heritage Lottery fund Mentoring Project Taking Teaching further grant Mental health lead grant HAF projert EFA Bursary Fund ESFA Tuition fund Total restricted funds Total funds 7,500 17,5001 17,9111 19,0031 17,9111 19,0031 300 14,277 870 13001 114,2771 11,5331 13,2801 143,7211 151,1111 16631 13,2801 17,8661 110,6071 18,290 681,896 1108,5761 26,500 35,855 40,504 18,290 750,000 251,961 53,000 14,338 2,286 168,1041 1360,5371 126,5001 114,3381 12,2861 70,109 70,109 861,151 1858,2071 2,944 234,835 144,974 72,168 5,857 13,682 1,278 52,394 14,201 13,041 2,672,872 7,214,045 1234,8351 1144,9741 172,1681 15,8571 113,6821 11,2781 140.5801 113,0841 113,0411 12,008,110) 16,664,238) 11,814 1,117 664,762 549,807 42 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 Fund Movements Year to July 2023 Other recognised Gains & Losses Net Movement Incoming Outgoing Unrestricted funds: General reserrfe Designated funds Planned Periodic Maintenance Planned Periodic Maintenance - The Glebe Revaluation reserve Residents fund Learners Fund Utilities fund Strategic Development Fund Total designated funds Total unrestrirted funds Restricted fund5: Fundraiser Residents fund Children in Need - Employability Youth Alliance BBO Grants YMCA England- Move on fund/Room Sponsor Youth and Communities f und Allotments fund B & Q grant lallotmentsl NHS grant lallotmentsl Asda lallotmentsl YMCA England allotments Allotment association funds Warm welcome grant Derbyshire Community Health UKSPF - Green Connector Community Action - Wellbeing Minibusfund Padlev@YMCA- Property fund Padley@YMCA- Community fund Homes England - Cotton Lane build Garfield Weston Foundation YSS general funds YSS Warm Hub grant Learners fund U KSPF- Thriving futures Multiplier grant Heritage Lottery f und Kickstart Derby College - Transition mentoring Derbyshire County Council Community action - Transition Mentorin8 HAF project EFA Bursary Fund ESFA Tuition fund Total restrlrted funds Total funds 4,805,139 14,152,918) 95,000 747.221 126,5921 126,5921 9,945 9,945 13,9601 13.9601 114,5001 145,0521 14,197,970) 114,5001 135,1071 712,114 9,945 4,815,084 95,000 11,9131 11601 11,8441 17,5001 1116,9851 11,9131 160 11,8441 1,500 101 9,000 116,985 14,832 16.9211 184,9961 13,9861 12,5281 12,0641 17171 17941 13321 14,0001 15701 112,1091 119,3931 7,911 184,9961 13,9861 12,5281 12,0641 17171 17941 663 995 4,000 3,850 27,065 30,000 570 266,577 200,019 3,280 14,956 10,607 570 266,577 167,134 132,8851 loo,000 794,902 875 2,000 42,548 47,553 6,620 6,554 loo,000 93,743 1700,2841 18751 2,000 142,5481 147,5531 16,6201 16,5541 12,2501 11,8641 15,1851 152,3561 112,0251 112,1621 11,189,973) 15,387,943) 12,2501 1,864 15,1851 115,4141 1,362 36,942 13,387 12,162 1,738,586 6,553,670 548,613 1,260,727 95,000 43 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 15.CONSOLIDATED STATEMENT OF FUNDS {continuedl Funds Commentary Unrestricted Funds: Deslgnated Funds {including Transfers) Planned periodic maintenance YMCA Derbyshire has put aside a sum of money each year to cover major repair liabilities and to allow for planned periodic maintenance and renovations. A sepa rate fund for planned work at The Glebe has been created in the year. Resldents Fund The residents fund has been created by designating various sundry income streams to fund ad hoc needs of residents Iboth individually and corporately) as they a rise. Examples of expenditure in the period are travel cost to interviews and the purchase of clothing for interviews among other things. Learner5 Fund The learners fund has been created by designatin8 various sundry income streams to fund ad hoc needs of learners Iboth individually and corporately) as they arise. Utilities Fund A fund was created to help fund an expected significant increase in housing utility bills from October 2023 funded from increased rents from April 2023. This fund has now been released. Strotegic development Fund The strategic development fund was created to enable development in new activities. The fund is currently designated to support the development of new build housing. Generalfund The general fund represents the balance of funds which a re not designated or restricted. Restricted funds Youth alliance This grant is delivering bespoke l-l mentoring, social action initiatives, therapeutic counselling, sports, arts and nature-based attivities to SUPPOrt young people to increase their physical and mental wellbeing, forge connections, build their self-esteem a nd increase their conf idence. YMCA Englond and Wales- Room sponsor This grant enables our YMCA to provide vital health and wellbeing activities and personali5ed support to young people living at our YMCA with the aim of supporting young people to move along their positive pathways and into independent living. Youth and Communitlesfund This fund has been created from restricted donations to support the youth and communities work of the charity. 44 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 15.CONSOLIDATED STATEMENT OF FUNDS, continued Residents Fund Donations have been received to fund ad hoc needs of residents Iboth individually and corporately} as they arise. Examples of expenditu re in the period are travel cost to inteNiews and the purchase of clothing for interviews among other things. Codentfund Funding has been received through YMCA England & Wales to support the 'Safe and Well Communities, project. This delivers energy efficiency advice, carbon monoxide safety awareness, and income maximisation 5UPPOrt to residents in our supported accommodation and individuals in our community. Allotmentsfunds (inc grantsfrom B & Q NHS, Asda, and YMCA England and Wolesj Funds from grants and donations to support the work of YMCA Derbyshire at the 311otments in Wilmorton, Derby. Allotment Association funds Represents funds received from allotment holders to SUPPOrt the administration of the allotment association. Derbyshire Community Health The project will enEage with YMCAD residents aged 16-25 from within our Housing and YMCA Key College provision, sUPPOrting young people to explore and understand Safer relationships and provide sexual health advice. UKSPF- Green Connector Green Connector is an asset-based community development IABCDI project alongthethemes of green spaces, growing and nutrition, community connertedness and pride, and citizen wellbeing and skills.. Community Artion- Wellbeing Cooch Derby Wellbeing ensures that support Is joined up, focuses on the whole person's needs and can be easily accessed from the community. Ourgrant has enabled usto employ a dedicated Wellbeing Coach that support5 individuals across the city of Derby. Minibu5fund Fund5 received to support the purchase of a new minibus for YMCA Derbyshire. The Minibus was purchased during 2023-24. Padley@YMCA - Propertyfvnd The capital fund represents funds set aside to support the relocation of the Padley day centre to the new resilience centre at Parcel Terrace. Podley@YMCA - Communitylund The communttyfund represents funds set aside to support the community activities of the Padley day centre and warehouse inclusive of small grants received for the core work of the service. 45 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 15.CONSOLIDATED STATEMENT OF FUND5, contlnued Derby Home5- Resilience Gront A grant was received from Derby Homes to support the establishment of a resilience hub within Abbey Ward, Derby. The Hub is a central place for individuals and families facing poverty, at risk of homelessness and lacking educational attainment to access vital opportunities a nd support to improve their physical and menta I well-being a nd increase their skills set to move along their p051tive pathways. Warm Welcome grant- Padley Thi5 grant has enabled Padley@YMCA Derbyshire to provide warm spaces, food, attivities and energy advice for community members most in need. NGED gront - Padley Funding from National Grid has supported energy cost management and fuel poverty initiatives at Padley@YMCA Derbyshire. Homes England- Foundry Point build Represents funds received from the Homes England to support the construction of flats at Cotton Lane in Derby. Foundry Point donations/Garfield Weston Foundotion Represents funds received from a range of donors including the Garfield Weston Foundation to support the fit out of the Foundry Point development. YSS generolfunds Represents funds associated with the operations of YMCA Stepping Stones nursery and community training centre and delivery of early years education through the subsidiary company. Learnersfund Represents funds received to meet the needs of learners 35 they arise. UKSPF- Thriving futures Thi5 grant seek5 to build employability skills and awareness of skill needs and jobs in the Derby area. Provision is based on four activity hubs which are in wards with high levels of deprivation in which there are high levels of economically inactive people. UKSPF- Multiply gront The Multiply project is a government initiative helping adults to improve their numeracy skills which will help in daily life. Heritoge Lotteryfund The project aims to engage the young people in exploring key heritage and conservation sltes in Derby and Derbyshire to understand the employment opportunities linked to these in the past and present. 46 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 15.CONSOLIDATED STATEMENT OF FUNDS, continued Mentoring projert Grant funding received from DFE to provide support for training of mentors and development of a mentoring inffastructure within Lifelong Learning Taking Teachingfurther grant This grant was received from DFE to support the teacher training of a Key College member of staff. Mental Heolth Lead grunt This grant was received from DFE to support the training of a Key College staff member to facilitate a lead role in supporting learner and staff mental health. HAFprojert This grant has been received to support the provision of holiday activities inclusive of a main meal for those entitled to free school meals. ESFA bursoryfund The ESFA bursary fund is provided by the ESFA to enable support to learners in need through the provision of bursaries or the covering of expenses for necessary food, travel and materials. ESFA tuition fvnd The purpose of the fund is to provide of extra support to students of 16 to 19 years of age lor up to 24 with a n EHCPI with low prior attainment in English or mathematics in Year 11, or from econom ically disadvantaged areas, whose education was disrupted by the COVID-19 pandemic. 47 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 16.ANALYSIS OF NET ASSETS BETWEEN FUNDS At 31" July 2024 Fixed Assets Net current Assets Total 2024 Long term Lia bilities Restricted funds Youth Alliance Allotments fund UKSPF - Green Connector Padlev@YMCA- Property fund Padley@YMCA- Community fund Padlev@YMCA- DCC Grant Homes England- Foundry Point Foundry Point Fund Garfield Weston Foundation Homes England - Campus Back Flats DSS general funds Learners fund HAF project EFA Bursary Fund 1.500 8,514 1,500 8,514 7,090 948,473 58,558 26,500 7,090 586,894 930 361.579 57,628 26,500 2,686,450 12,686.4501 70,109 100,000 70,109 loo,000 524,950 1,258,414 1524,9501 185,1071 11,076,620) 96,687 2,000 2,000 22,422 22,422 15,725 15,725 580,870 14,288,020) 1,357.578 5,064,728 Designated funds Planned Periodic Maintenance - Campus Planned Periodic Maintenance The Glebe Revaluation reserve Residents fund Learners Fund Strategic Development Fund Total designated funds 222,218 30,048 222,218 30,048 19,774 406 303 20,000 292,749 19,774 406 303 20,000 272,975 19,774 General reserve 5,433,469 33,567 11,173,096} 4.293,940 Total unrestricted funds 5,453,243 306,543 11,173,096) 4,586,689 Total funds 10,517,971 887,412 15,461,116) 5,944,267 48 YMCA DERBYSHIRE Notes to the Financial statements st Year ended 31 July 2024 16.ANALYSIS OF NET ASSETS BETWEEN FUNDS {conttnued) At July 2023 Fixed Assets Net current Assets Long term Liabilities Total 2023 Restricted funds Youth Alliance YMCA England - Move on fund/Room Sponsor Youth and Communities fund Allotments fund Allotment association funds Derbyshire Community Health UKSPF- Green Connector Community Action- Wellbeing Minibus fund Padley@YMCA- Property fund Padley@YMCA- Community fund Homes England - Cotton Lane build Garfield Weston Foundation DSS general funds Learners fund HAF project EFA Bursary Fund 1,500 7,911 9,003 8,514 663 1,500 7,911 9,003 8,514 663 3,280 2,854 10,607 570 266,577 164,502 947,979 (2,686,450} loo,000 170,452) 11,144,399) 2,000 10,608 14,608 3,061,799 1,480,726 {3,830,8491 3,280 14,956 10,607 570 266,577 167,134 12,102 2,632 1,738,471 loo,000 93,743 2,000 10,608 14,608 711,676 1,308,594 Designated funds Planned Periodic Maintenance - Campus Planned Periodic Maintenance- The Glebe Revaluation reserve Residents fund Learners Fund Utilities fund Strategic Development Fund Total designated funds 329,551 20,100 329,551 20,100 114,774 1,043 303 80,000 20,000 565,771 114,774 1,043 303 80,000 20,000 450,997 114,774 General reserve 4,421,429 249,552 1553,9681 4,117,013 Total unrestricted funds 4,536,203 700,549 1553,9681 4,682,784 Total funds 7,598,002 2,181,275 14.384,817) 5,394,460 49 YMCA DERBYSHIRE Notes to the Financial statements 5t Year ended 31 July 2024 17. ANALYSIS OF CASH PROVIDED BY OPERATING ACTIVITIES 2024 2023 Operating surplus/(deficit) Add back Depreciation charges Net interest paid/(received) (Profit)/loss of sale of fixed assets Receipt of government grants Movement in working capital Cash provided by operating activities 549,807 1,165,727 177,585 139,565 20,448 23,801 14651 123,7481 524,950 2,686,450 (610,7651 1,374,724 661,560 5,366,519 18.PENSION COMMITMENTS YMCA Derbyshire provides a defined contribution Stakeholder Pension for senior employees through Scottish Widows and a scheme for other employees through People's Pension. The employers, contributions to the schemes are charged to the Income and Expenditure Account for the year ended 31 July 2024 were £208,023 {2023'. £171,148). The amount of pension contributions payable at 31 July 2024 was £2,538 {2023: £16,442). 19.LIABILITY OF MEMBERS The company is limited by guarantee and does not have a share capital. The liability of each member on winding-up is restricted to a maximum of £1. At 31 July 2024 there were 12 full members of the company131 July 2023- 121. 20.LEASING COMMITMENTS At 31 July 2024 the Group and Charity had aggregate commitments under non-cancellable operating leases as set out below.. Land & Buildings 2024 Other Land & Buildings 2023 Other 2024 2023 Operating leases expense.. Within l year Within 2 to 5 years Over 5 years 449,669 986,738 1,815,356 3,251,763 383,773 1,043,132 1,588,000 3,014,905 50 YMCA DERBYSHIRE Notes to the Financial statements Year ended 31" July 2024 CAPITAL COMMITMENTS 21. The Group and Charity had the following capital commitments at 31" July 2024 Group 2024 Cha rity 2024 Group 2023 Charitv 2023 Foundry Point (previously Cotton Lane) Douglas Court/Hilton Court Parcel Terrace 84,738 39,337 247,557 371,632 84,738 39.337 247.557 371,632 3,539,177 3,539,177 Total Capital Commitments 3,539,177 3.539,177 With the insolvency of our main contractor for the Foundry Point project in April 2024 a new th contractor has been appointed to complete the projett. On 4 October 2024 YMCAD Property developments Ltd signed a contract with Tanbry Construction Ltd for £3,568,896 to complete the project. 22. RELATED PARTY TRANSACTIONS During the year, the charity received in aggregate donations amounting to £40,000 from related parties12023: £nill. 51