YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 YMCA ESSEX REPORT OF THE TRUSTEES AND AUDITED CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ,'Iiiyiiiu ADDICV58 1111012024 COMPANIES HOUSE A12
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 ANNUAL REPORT ANO ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Page CONTENTS STRUCTURE AND ADMINISTRATIVE INFORMATION Board of Trustees Key Staff Contact details Main advisers OUR AIMS AND OBJEcfIvES THE TRUSTEES. AND STRATEGIC REPORTS FOR 2023124 Our Servlce5 Operations Partnerships Communlcatlons Finance Future Plans and Strategy Conclusion GOVERNANCE AND MANAGEMENT Articles of Association Board of Trustees Committees Management and Organisational Structure Risk Management FINANCIAL INFORMATION Funds Pollcy Subsidiary Undertaking Fixed Assets Statement of Trustees, Responslbllltles Auditors 12 REPORT OF THE INDEPENDENT AUDITORS 15 CONSOLIDATED STATEMENT OF FINANCIAL AcfIvITIES 17 CONSOLIDATED BALANCE SHEET 18 CONSOLIDATED STATEMENT OF CASH FLOWS 19 NOTES TO THE FINANCIAL sfATEMENTS
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 STRUCTURE AND AOMINISTRATIVE INFORMATION Board of Trust••s Name.. Offlce.. Servlng on Commlttees.. Mr Mike Bromfield Mr Paul Coleman Mr Michael Minta Mr David Clarke Ms Dawn Bostock Mr John Blair Mr Khan Kassam Mrs Ashley Miller Bryant Mrs Paullna Newman Mrs Nicola Tandy Mr Rakesh Krishnan Chalr Vlce Chalr Treasurer Company Secretary Flnance Finance Flnance. (resigned 6th February 2024) Flnance (appointed 12 September 2023) (appointed 12 September 2023) (appointed 12 September 2023) (appointed 12 September 2023) In addltlon, Board meetings were usually attended by: Lady Rosemary Ruggles-Brise DL President Senlor Management staff Chief Executive Revd Andy Drake Contact detall$ Address & Reglstered Office YMCA Essex Vlctoria Road Chelrnsford Essex CMI INZ Telephone Website Email Reglstered charity number Company number 01245 355677 www.ymcaessex.org,uk admin@ymcaessex.org.uk 1054070 3171206 Maln advlsers Auditors: THP Limited Chartered Accountants and Statutory Auditors 34-40 High Street Wanstead London Ell 2RJ Bankers., Barclays Bank PLC Barclays Business Centre 40-41 Hlgh Street Chelmsford CMI IBG HR Consultants: Bri9htHR Peninsula Bulldln9 Victoria Place Cheetham Hill Manchester M4 4FB Page I I
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 YMCA ESSEX YMCA Essex is one of 101 YMCAS who constitute the YMCA Federation in England and Wales, worklng with young people and transforming lives throughout the country. Founded in 1844, the Federation is in turn part of the YMCA World Alliance and now reaches more than 65 million people in 119 countries worldwide, working with young men and women regardless of race, religion, or culture. YMCA E55ex is a Chrlstlan charlty rooted in local communities and working Wlth people of all faith5 and none to meet the needs of children, young people, and their families, and supporting them so they can develop and grow and achieve their goals In Ilfe. Our premises in Chelmsford and Colchester provide the base for our actlvities across a wide and expanding area of Essex. We influence the lives of thousands of young people every year through a diverse range of programmes and service5 focused on their individual needs. We have estab115hed a trading companyi 'YMCA Essex (Tradlng) Ltd, [company number 03041709]. The tradlng company is a wholly owned subsidiary of the charity and carries out several activities with the aim of creating surplus to be used for the benefit of the charity. OUR AIMS AI4D 08JEcrniES In summaryi the objectives of YMCA Essex are to enable Christians to come together wlth people of other faiths and of none to help young people wlth thelr personal, soclal, educatlonal and splrltual development, to provlde accommodation, and to improve their health and wellbeing through the services and support we can offer them. These objertlves have shaped the Mlsslon, Strapllne, Values and Prloritles of YMCA Essex.. Our M•ssion: 8ulldlng Lives Hope and Futures for chlldren. young people and famllles Our Straplln•: 'Unleashlng Potentlal. Our Values: Chrlstlan - inspired by faith, hope and love Carlng - here to help everyone we can Creative - always looking for new opportunitles Committed - aiming ft)r excellence In all we do Our Priorities: SER VICES.. stngthen and expand our ability to meet the needs of chlldren, young people and families. 2. OPERA TIONS.. Implement an adaptlve, sIllent, sustalnable operatlonal model which optimises resources for our Mission. PAR ThJERSHIPS.' Pursue opportunities for partnership worklng to increase our impact and effertivene55. 4. COMMUNICA TIONS.. Raise our profile and build support for the vital work we do fmm communities, beneficiaries. donors, funders and commissioners. We have taken account of the Charlty Commission's Public Benefit Guidance in establishing and reviewing our aims and objectives, and in planning and resourcing our activities to achieve them. We offer services to childreni young people and families across a wide area of Essex. We work with all people, while focusing especially on those with greater needs and fewer opportunities. We help to give children a better start in life. We provide posltive actlvlties, safe places to go, role models and mentors for young people. We help families through difficult times at home, In school, in local communitles, in flndln9 somewhere to live, and in work and finding work. We aim to make a real difference to the lives of all those with whom we work. Page12
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 THE TRUSTEES. AND STRATEGIC REPORT FOR 2023/2024 Our Servlces We provided a wide range of servlces, projects and actlvlties during 202312024 including: Housing Work At YMCA Colchester we have 44 flats available for rent to homeless young people aged between 16 25. They can stay at YMCA Colchester for up to two years and during their time with us are given support In many areas to help them move on to independent living successfully. Support includes budgeting, claiming benefits, getting into, staying at, and finishing college, finding work and sustaining a job, coping with mental and physical ill health, sexual health advice, rebuilding relationships with family and many other things. Upgrades of wet rooms contlnue on a case-by-case basis. Kltchen upgrades are still on our list, however due to other workstreams this is currently pending. Our relationship with the Department for Work and Penslons {DWP) remalns strong wlth regular Joint working meetings taking place. During 202312024 we had 52 residents move in and out. Of those 50 moved on positively to social housingi friends, or family, or to private rented accommodation. We continue to be a major contributor to the Joint Referral Panel where our referrals for housing come from (except for the young people who apply dlrect). We applled for and recelved grant fundlng of £7,200 In 202312024 to provlde essentlal Items for our young people to use In thelr homes. We started work wlth Cadent on a project about energy efflclency and report Into that monthly. Part of the project Involves doing slow cooker workshops with the young people whlch they are allY enjoylng and are quite surprlsed at how straight forward it Is. Communlty Youth Groups YMCA Essex provides detached, drop-in and outreach youth work in a variety of locations to provide positive activities for young people to bulld healthy relatlonships, to be mentored and to engage in communlty programmes that reduce anti-social behaviour and promote improved inter-generational engagement. We support hundreds of young people each week In youth groups, and advertlse in schools, on soclal medla and In local areas. Most of the young people come along due to hearlng great things from thelr frlends. Famlly Support Work and Schools. Work Family Support - Our Family Support service collaborate5 Wlth children, young people, and families to foster positive change, enhancing attendance, behaviour, wellbeing, and overall life both inside and outside of school. We partner wlth 7 primary schools in the Chelmsford, Colchester and Rayleigh areas, offering workshops on topics such as team building, communication, self-esteem, self-confidence, homelessness, and world poverty, tailored to the schools. requests. In 202312024 academlc year, our Famlly Support team assisted hundreds of childreni young people, and their families through school referrals. Each referral led to noticeable improvements In attendance, behavlour and/or academlc achlevement. We utilise the Y-web soft outcomes monitoring tool to assess each child or young person's progress, reporting enhancements in emotional, social, domestic, and academic wellbeing. Our mission is to empower every young person by giving them a voice and committing to positive, transformative change in their live5. Page13
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 Safer Communlty Youth Worl(er - This role has been supportlng hundreds of young people in school assemblles through meditation and spirit-based thinking, small group workshops known as 'The Starting Point, and I: I sessions. This is where young people are encouraged to leave everythlng where it Is and start again from this point, focusing on movin9 forward, forgiveness and positive mindset. They are able to be guided through challenglng times using trauma-informed care approaches and reflective listening. This work has been conducted almost entirely online and often in very creative ways. Chlldcare Work Out of khool Club$, and Holiday Clubs - Out of School Clubs contlnue to be very popular. Children are cared for in a fun and enriching environment that enables them to engage and build positive relationships, enhance experiences, complete homework, and grow thelr skills and experlence to derive the greatest benefit from their education. This wraparound care also continues to be a support to parents needing extended care either side of school times. We have enhanced our provision across one of our busiest locations to enable us to take more children due to popular demand. We are operatlng 8 out of school clubs across Chelmsford. Of note are Hollday Clubs that Actlve Essex has commlssloned us to run across the county In 5 dlfferent locations. The clubs aim to give nutritious meals and exciting activities every day for the children attending, and also provide an opportunity to work closer with thelr famllles. Nursery - Our Nursery is open Monday to Friday for 51 week5 per year from 7:30arn-6:00pm for children aged 3 months to S years. The Nursery served approxlmately 8S chlldren and thelr famllles each week durlng 202312024. We have been delighted to see the Nursery growing strongly during this financial year* providing care for a diverse range of famllles and needs, wlth 70% of children havlng funded spaces. The Nursery has a "Good" Ofsted rating which enables us to take 2-year funded children. Staff have continued to work hard to ensure we offer the best posslble provlslon for our chlldren and famllles. We are still supportlng famllles referred to us vla support workers at E55ex County Councll and the Wornen's Refuge, and chlldren from refugee families, Afghan in particular. Our staff have offered additional support to families that have needed help wlth chooslng schools and applylng for thelr schools of preference. This Is a service that many parents have expressed was vital for them, $0 we will continue next year with this line of support. Across all our chlldcare seIce5 thls year we hope to engage with over 1,000 Essex families. Operations YMCA Essex is delivering on its vision of expanding across the county to deliver its core offers to local communities. All departments are led by a Head / Manager team which gives us the flexibility and resilience we need and contrlbutes to provldlng cost-effectlve servlces, wlth most staff worklng on the 'frontllne'. Like many YMCAS, we have slgned the recent Rights and Responsibilities charter, which includes a requirement to achSeve the equivalent of Trusted Charity status. We completed the first Stage self-assessment during 2023. Desplte the continuing cost-of-living challenges, YMCA Essex continued to pay the Real Living Wa9e, and offer all staff above inflation salary increases. Page14
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 Y Housing (YMCA Blackburn) is a Housing Association made up of 7 participating YMCAS each with properties that offer supported accommodatlon, our Colchester property is one of these. Each YMCA has a director on Its Board of Trustees and a speclal buyback arrangement means that the YMCAS can purchase the properties wlthln 25 years of the original purchase date should they become Registered Providers wlth the Homes and Communities Agency. Thls has been an exciting development which has ensured the long-term viable future for YMCA supported accommodation in Colchester. To assist with GDPR compliance, our data is accessed through Microsoft SharePoint@ and Dropbox. We have also thoroughly reviewed how we handle and control data including ensurlng staff know their role in this and the protocols requlred. PartnershTps Working with local YMCAS across the countryi our national federation of YMCAS in England introduced a new Federation strategy for 2022-2030, with our CEO sitting on one of the strategic steering groups. The Chalrs and Chief Executives of all the YMCAS In the East of England meet regularly to identify opportunltles for us to achleve these aims and objectives in our region, to share experlences and Ideas, and to look at how we can extend our Impart and generate more resources throu9h working In partnership, YMCA Essex maintains good working relatlonshlps wlth counclllors and senior staff at Essex County Councll, Chelmsford City Council, and other local authorities where we are active, and we appreciate their strong support for the YMCA. We were particularly grateful to the Chelmsford City Council for their £25,000 grant in 2023124. We are also grateful for several donations from Essex Community Foundation durlng the year, and for the Safe Space grant from the Pollce, Fire and Crlme Commissioner for Essex for the new Y club (youth club). We work closely wlth 'Churches Together, In the Chelmsford area and maintain Chrlstlan links where we can. We are developing Stronger Ilnks wlth local churches, with our CEO Andy Drake preachlng to local congregations on behalf of the YMCA. We also work with other like-minded organisations through 'Citizens-UK' to enable grassroots campaigning for change, seeking for communities to be shaped more by their members than by outside sources. It should be noted that although the schools and parlsh counclls we work with are, strlctly speaking, our cllents, In practlce we are like partners working together to achieve the same goals, This is borne out in how our prlclng for such servlces typically represent 'at cost, models, and how we sometimes work closely to co-deslgn bespoke solutlons, This year we had the honour to be chosen as the Chelmsford Mayorfs Charity by Councillor Linda Mascot, and we have worked closely wlth both Llnda, the Deputy Mayor Counclllor Jude Deakln and their fund-raising team to organlse various events whlch has seen recelpts of nearly £9k In thls financial year. Communlcation$ One of our key strategic priorltles is to raise our profile and build support for the vital work we do from communities, beneficiarie5, donors, funders and commissioners. We contlnue to Innovate and develop a cuttlng edge feel for our prlnt and electronic medla, always seeklng to better communicate our mission to existing and new stakeholders. We publicise our activities through our website and social media updates; through leaflets; throu9h the media; and by face-to-face contact wlth people through our services, projects, events, and networking with businesses, public and voluntary sector5. Relationships with local media have led to posltlve YMCA coverage, for instance with BBC Essex as guest panellists on occasion. Pagel 5
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 Flnance Our principal sources of income are the Nursery, Out of S¢hool Clubs, Housing Work and to a lesser extent, our Youth Clubs and Family Support Programme. All of which operate on a social enterprise model, with any surplus being ploughed back into the local work. The end of year outturn was a small surplus of unrestricted general fund5 of £5,497. Whi15t we would always wish to produce a surplus, thls does represent challenging changes to our service provlslon and the building of capacity within the organisation. The Trustees recognlse that our flnanclal position is partlcularly dependent on the level of take-up of our income- generating services. It wlll therefore be important for us to maintain and expand those services in the coming years and to attract further Income from additlonal sources especially to support the costs of our charitable youth work. Future Plans Jnd Strategy There a more than 400,000 children and young people aged 19 or under living in Essex, The potential need and demand for the services provided by the YMCA is therefore huge. Our strategy for the future alms to expand our services both geographlcally and numerically to meet more of these needs, working alongslde other leadlng YMCAS wherever possible. Our aim is for Community Hubs to be developed organically across Essex out of which YMCA services and staff can share our particular blend of professionalism and kindness. These Community Hubs would offer and/or be connetted to a diverse range of services, from our core work of chlldcare, youthwork and housing to newer projects involving Informatlon, advice and guldance givlngi SnteThentlon for those faclng domestlc abuse, outward bound communlty development work, and potentially much more. From 2023-2030, these hubs will grow both opportunistlcally and intentionally. Alongside these plans,. we continue to communicate well with our neighbouring YMCAS and seek collaborative work where possible. We remain open to strategic partnerships with other like-minded organisations and are aware that excltlng developments can come from the most unlikely of places. Concluslon 2023124 was an encouraging year with regard to the delivery of the charity mission and the resultant financial outturn. The unique services we offered to children, young people and families continued to be of the highest standard and operated smoothly during the year. We remain resilient and have managed to achieve a small surplus, wlth all our servlces Intact, and others such as youth clubs expanding. We contlnue to develop our housing portfollo with plans for a supported accommodation-focused redevelopment of our Chelmsford site, adjust our childcare offer to achieve profitability in the trading subsidiary, and improve our communications and relationships to help capitalise on the growth opportunities that the current volatile environment is producing. It is when we hear the many individual stories of children and youn9 people whose live5 have been completely turned around by their involvement with the YMCA that we know we are maklng a real difference. None of this would be possible without all the wonderful people who work for and support the YMCA. We would like to pay tribute to our paid and voluntary staff under the leadership of our Chief Executive, Andy Drake. We have a very professional, talented and commltted staff team at the YMCA, who are hlghly valued for everythlng they are achievlng. We wish to thank our Treasurer, Finance Committee and the Finance Team for their dedication and hard work in financial planningi monitoring and control. We are very grateful to all the organisations and individuals who have made donations, whether large or small, enabling us to undertake many vital projects and activities. We record our thanks to our fellow Board Members and all the other volunteers who glve so much to the YMCA. Finallyi we thank all those who have supported us in prayer and in action during the last year. Page16
YMCA Essex (Llmited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 GOVERNANCE AND MANAGEMENT Artlcles of As50clatlon YMCA Essex is a charitable prlvate company Ilmlted by guarantee, Incorporated on 12 March 1996 and registered as a charity on 26 March 1996. The charity is governed by its revised Articles of Association adopted on 25 January 2016. YMCA Essex's charitable objectlves, Sn full, are: To advance the Christlan falth, including by: (a) promoting a Christlan environment Insplred and motivated by the1Sfe, example and teaching of Jesus Christ, where people of faith and people of none can work together for the transformation of communities; and (b) enabling people of all ages and in particular young people, to flourish through experiencing and responding to the love of God demonstrated by the life, example and teachlng of Jesus Christ; To provlde or asslst In the provision in the interests of soclal welfare of faclllties for recreatlon and other leisure time occupation for men and women wlth the object of improvlng thelr condltlons of Ilfe,. To provide or assist in the provlsion of educatlon for people of all ages and In partlcular young people, with the object of developing their physical, mental or spiritual capacities; To relieve or assist in the relief of people of all age5 and In particular young people, who are In condltlons of need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances; and To provlde residential accommodation, includlng Soclal Houslng, for people of all ages and In partlcular young people, who are In need, hardshlp or distress by reason of thelr soclal, physlcal, emotlonal, spiritual or economic circumstances. Board of Trustees The Board of Trustees meets quarterly. The Board's purpose is to: provlde strateglc leadershlp and support for YMCA Essex,. uphold the Chrlstlan faith basls of YMCA and promote Its ml$$lon and objectlves,. • agree vlslon and strategy. • ensure good governance and accountablllty: • make best use of human, financial and property resources. take part in YMCA events and actlvltles; encouragei pralse and thank staff and volunteers,. promote YMCA and its work within Essex communities. Trustees serve on the Board for a maximum of three consecutlve three-year terms before taking a break of at least one year. The Board aims to have a balanced and capable team of Board Members including., people who will ensure that the Christian founding prlnclple, values and character of YMCA are sustalned, providing Christian leadership for the charlty (at least half of our Board Members are committed Chri5tians); people with diverse backgrounds and diverse attributes, to help ensure healthy debate and challenge, and to bring a range of views and perspectives to inform decision-making; people with connections to communities in different parts of Essex; people with the skills, abilities, knowledge and experience needed for the effective working of the Board; a balance on the Board between experienced Members and those who can offer new thinking and independent challenge. Page17
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 The Board welcomes applications at any time from people who may be Interested in servlng as Board Members. When it wishes to strengthen or diversify it5 membership, it will actively seek candidates with the required skills and attributes by a range of means, which may include open advertlsement. Following a successful recruitment process, the 8oard will appoint a new Trustee as a Board Member. New Trustees receive an induction programme, to famlllari5e them wlth the servlce5 and operations of YMCA Essex and the work of the wider YMCA movement, and to equlp them to fulfil their responsibilities as Trustees for governance, strategy, finance, communication and representing the YMCA effectively. Further training and development opportunltles are made available to all Trustees on an ongoing basls. Commlttees The Board has appolnted two Commlttees to asslst the work of the Board and the YMCA: Flnance Commlttee Board Appeals Committee Management and Organisation Structure The Board has delegated the day-to-day responsibillty for the YMCA'S servlces and operatlons to the Chief Executlve and the Senlor Management Team. The Senlor Managers lead on the maln areas of Childcare & Youth Work, Housingi Finance, Corporate Seniices and Communications, Fundraising & Events. There are over 91 staff and over 10 volunteers working for YMCA Essex in the charity and its subsidiary trading company. Risk Management The Board has a Rlsk Mana9ement Pollcy, Incorporatlng a Rlsk Reglster, and both are revSewed and updated regularly. Our strateglc rlsk analysls shows that the YMCA currently faces 4 rlsks classed as Major within the methodology we have adopted: Ensure the Quality and Competltiveness of our services and projects. Safeguard the Wellbelng of the Children, Young People and Adults we work with. Increase our Income and improve our Financial Position. Malntaln a good Reputatlon and Publlc Support for YMCA. There are also 8 rlsks classed as Moderate: Safeguard Buslness Contlnulty for all our servlces and operatlons. Recruit, develop and retain the Staff and Volunteers we need. Ensure the Health and Safety of all involved in our actlvities. Seek, respond and adapt well to Change and New Opportunltle$. Ensu the effectlve Governance of the YMCA Fulfil Our Mlsslon to children, young people and families. Maintain effective F•nancial Controls and Fraud Prevention measures. Manage staff fairly and effectlvely through our Human Resources pollcles and procedures. The Board Is satlsfled that the above rlsks are belng conslstently and effectSvely managed and mitlgated and conslders that the resultant rlsk proflle Is acceptable and approprlate In relation to the YMCA'S objectlves and responsibilities. The nature of the services which the YMCA provides to service users and the environment within which the charity operates, mean that we will inevitably face risks due to factors beyond our control. We are willin9 to tolerate higher risks if they can be justified by the potential benefits for children, young people and families. Page18
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 FINANCIAL INFORMATION Funds Policy The charity has various funds available to finance its activities. These are as follows: (a) Unrestricted funds These are funds expendable at the discretion of the Trustees in furtherance of the charity'5 objects. Such funds may be ¢eslgnated by the Board for a particular project of purpose. The general fund is the amount of unrestrlcted funds that has not been designated. The Board have reviewed the charity's general funds in Ilne with the guidance issued by the Charity Commissioners and they believe that the charity should hold these funds because: • it has no guaranteed regular funding* It requlres an element of protection against potentially damaging but as yet unknown future events. The Trustees believe that the minimum level of accessible bank balances should be the equivalent of three months, essential operatin9 costs calculated and reviewed annually. As at the end of March 2024, the general fund stood at £191,601. {b) Deslgnated funds As shown on the balance sheet, the majority of unrestricted funds are held in the form of fixed assets and as such these funds are not available to support other activities. The Board have therefore created a designated fund representing the value of fixed assets held (see note 12). In addition, the Board have also recognised the problems aused when existing fundlng for projects finishes before new sources of funding are secured. We have created a Youth Work fund to allow projects to contlnue durlng these periods. We also have a replacement fund which is monies set aslde for on-going malntenance and improvement of the buildings. (c) Restrlcted funds These are funds donated for speclfic purposes that are wlthln the wlder objects of the charlty. Other funds represent donations for the actlvlties as detalled In note 13 to these accounts. The Board conslder that YMCA Essex has sufficient assets to meet its obligations as they arlse on both the designated and restrlcted funds. (d) Investment Policy Where p05slble, all funds are placed on call or short to medium term deposlt. Due to the nature of our activities, these funds may be required at Short notice, so we have a variety of drawdown dates. (e) P•n$lon Deflclt YMCA Essex reco9nises possible concem relating to its partlclpation in a defined benefit pension scheme and its share of the scheme deficit. Appropriate action has been taken. The scheme was closed to new members in 2007 and the link to final salary broken In 2011. Additlonal contributions continue to be made to reduce the deficlt. As part of the YMCA federation, the multi-employer pension scheme is run by an independent Trustee board with employer representation through the Principal Employer, National Council of YMCAS. The pension scheme Trustee obtains an actuarlal valuation every three years and we have considered the Implications to the charity's finances from the latest available actuarlal valuation. We have revlewed the charity's ability to continue to dellver its charitable objectives by ensuring budgets, forecasts and plans are available and inclucle the impact of deficit repayments. YMCA Essex benefits from the pension scheme Trustee and the Principal Employer seeking suitable specialist profession advice both to manage the scheme and in the continuing effort to explo ways of reducing the overall pension deficit. The notes to the Accounts include an accounting pollcy, and further detail regarding the pension commitment is in note 15. Page19
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 Subsidiary Undertaking The accounts consolidate the results of the charity and Its subsidiary YMCA Essex (Trading) Ltd. whose principal activltles are the provision of Nursery care, Out of Schools work and room hlre facilities. It5 performance is shown in note 4 to these accounts, 202312024 performance is down on the previous year, but we are anticipating th15 wlll improve during 202412025 back to previous levels, or better. Flxed Assets Movements in the fixed assets are detailed in note 8. ststement of Trustees. Responsibilitles The Trustees {who are also Directors of YMCA Essex for the purposes of Companies Act 2006) are responsible for preparing the Trustees. Report and the financlal statements in accordance with applicable law and United Kingdom Accountlng Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees are required to.. keep proper accounting records whlch dlsclose with reasonable accuracy at any tlme the financial position of the charlty and Its subsldlarles and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006; prepare financial statements for each financial year which give a true and fair view of the state of the group's and the charity's affairs and of the surplus or deficit for the year, and to comply with the regulations made by the Secretary of State. In preparln9 these flnanclal statements the Trustees are required to,. select suitable accountlng policies and apply them consistently; make Judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any materlal departures dlsclosed and explained in the financial statements, and whether the financlal statements have been prepared in accordance wiith the Statement of Recommended Practice 'Accounting and Reporting by Charities., i55ued by the Charlty Commisslon; prepare the flnanclal statements on the golng concern basls unless It Is Inapproprlate to presume that the charlty will contlnue in operatlon. The Trustees are also responslble for safeguardlng the assets of the charity and its subsidiarles and hence for takin9 reasonable steps for the prevention and detection of fraud and other irregularltles. Statement as to Dlsclosure of Information to Audltors The Trustees confirm that so far as they are aware there is no relevant audlt Information (as defined by Section 418 of the Companies Act 2006) of which the charity's auditors are unaware, and that they have taken all steps that they ought to a5 Trustees to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Llablllty of Members The Ilablllty of members Is Ilmlted to £1 in the event of the charity being wound up with insufflcient funds to meet its debts. Page | 10
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 Audltors In accordance wlth Section 485 of the Companies Act 2006, a resolution to appolnt the auditors THP Limited and authorising the Trustees to agree their remuneration will be proposed at the forthcoming Board meeting. Signed on behalf of the Board of Trustees Mr Mike Bromfield Chair Date: *1ily Page 111
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YMCA ESSEX (Limited by Guarantee) Oplnlon We have audited the consolidated financlal statements of YMCA Essex (Limited by Guarantee) (the 'charitable company,) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial ActSvitles, Consolidated Balance Sheet, Consolidated Cash Flow Statement 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 for charities 'The Financial Reportlng Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our oplnlon the financlal statements,. give a true and fair view of the state of the charitable company's and Group's affairs as at 31 March 2024 and of its incomlng resources and appllcation of resources, including 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 requlrements of the CompanSes Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company In accordance wlth the ethlcal 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. Con¢luslon$ r•l•tlng to golng ¢onc•rn In audltlng the financlal statements, we have concluded that the trustees, use of the golng concern basls 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 collectivelyi may cast significant doubt on the charitable company's and group's ability to continue a5 a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responslbllltles and the responslbllltles of the trustees wlth SpeCt to golng concern are descrlbed In the relevant sections of thls report. Other information The trustees are responsible for the other infomation. The other information comprises the information included in the annual report, other than the financlal statements and our Report of the Independent Auditors thereon. Our oplnlon on the flnanclal statements does not cover the other Informatlon and we do not express any form of assurance concluslon thereon. In connection with our audit of the financial 5tatement5, our responsibility is to read the other information and, In doing so, consider whether the other information 15 materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other information, we are required to report that fact. We have nothlng to report in this regard. Oplnlon on other matters prescrlbed by the Companles 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 financial year for which the financlal statements are prepared is consistent with the financial statements; and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on whl¢h we are rnqulred to report by exceptlon In the light of the knowledge and understanding of the charltable company and group and its environment obtained in the course of the audlt, we have not Identified material misstatements in the Report of the Trustees. Page112
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YMCA ESSEX (Limited by Guarantee) We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us; or the financlal statements are not in agreement wlth the accountlng records and returns; or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanatlons we require for our audlt. Responsibilities of trustees As explalned more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial Statements that are free from material misstatement, whether due to fraud or error. In preparlng the financlal statements, the trustees are responsible for assessing the charitable company's ablllty to continue as a going concern, disclosing, as applicable, matters related to golng concern and uslng the golng concern basis of accounting u nless the trustees either intend to liquidate the charitable company or to cease operations, or have no reallstlc alternatlve but to do so. Auditors. responsibilities for the audlt of the flnanclal statements Our objectives are to obtain reasonable a55urance about whether the financial statements as a whole are free from material mlsstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a hlgh level of assurance but is not a guarantee that an audit conducted In accordance with ISAS (UK) will always detect a material mlsstatement when it exists. Misstatements can ar15e from fraud or error and are considered materlal If, Indivldually or In the aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basis of these financial statements. Irregularities, including fraud, are instance5 of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect materlal misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The extent to whlch the audlt was considered capable of deterting Irregularltles Includlng fraud Our approach to Identifylng and assessin9 the risks of material misstatement In respect of irregularltles, Including fraud and non-compllance wlth laws and regulatlons, was as follows: the engagement partner ensured that the engagement team collectlvely had the approprlate competence, apabilities and 5ki115 to identlfy or reco9nise non-compllance with applicable laws and regulations. we identifled the laws and regulations applicable to the Group through discussions with trustees and other management, and from our commercial knowledge and experlence of the sector In which the Group operates. we focused on specific laws and regulations which we considered may have a dlrect material effect on the financial statements or the operations of the Group, including the Companies Act 2006, Charities Act and SORP requirements, Safeguarding, General Data Protection Regulations (GDPR), Anti-briberyi Employment and Health and Safety leglslatlon; we assessed the extent of compllance with the laws and regulatlons Identlfied above through maklng enqulrles of management and Inspecting legal correspondence. and identified laws and regulations were communicated wlthin the audit team regularly and the team remained alert to instances of non-compliance throughout the audlt. We a55essed the susceptibility of the Group's financial statements to material misstatement, including obtaining an understanding of how fraud mlght occur, by: making enquiries of management as to where they considered there was 5U5ceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the Internal controls in place to mitigate rlsks of fraud and non-compllance with laws and regulatlons. To address the risk of fraud through management bias and override of controls, we.. performed analytlcal procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions; a55e55ed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and investigated the ratlonale behind significant or unusual transactions. Page113
YMCA Essex (Llmited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YMCA ESSEX (Limited by Guarantee) In response to the risk of irregularities and non-compliance wlth laws and regulatlons, we designed procedures which included, but were not limited to: agreeing financial statement di5clo5ures to underlylng supporting documentation. enqulrlng of management as to actual and potential litigation and claims; and reviewlng correspondence wlth Charitles Commlsslon and any other relevant regulators as required. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing stsndards also limit the audit procedures requlred to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arlse from error as they may involve deliberate concealment or colluslon. A further description of our responsibilities for the audit of the financial statements Is located on the Flnanclal Reportlng Council's website at www.frc.org.uk/auditorsrespon5ibllltles. This descriptlon forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charitable company's members those matters we are requlred to state to them In an audltors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Shahld Hameed FCA FCCA (Senlor Statutory Audltor) For and on behalf of THP Llmited Chartered Accountants and Statutory Auditors 34-40 High Street Wanstead London Ell 2R) Page114
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted General Desl9nated Restricted Notes 2024 Total 2023 Total INCOMING RESOURCES Incoming resources from generated funds", Rental income Voluntary income Grants receivable Activities for generating funds Income of trading subsidiary Interest receivable Incomln9 resources from charitable activities: Youth tralnlng Mlscellaneous Income 713,389 5,110 25,000 8,618 718,240 13,592 713,389 5,110 25,000 8,618 718,240 13,592 634,038 4,098 25,000 609,967 4,234 247,922 15,774 12,710 45,873 306,505 15,774 346,724 18,232 TOTAL INCOMING RESOURCES 1 747 645 45 873 1 806 228 1 642 293 RESOURCES EXPENDED Cost of generatlng funds: Expenditure of tradin9 subsidlary Charitable activities: Childcare services Youth and other services Premises 662 152 662 152 532 507 85,000 727,046 254 378 1,066,424 13,572 1 742 148 85,000 825,732 254 378 45,462 1,165,110 13,572 45 462 1 840 834 82,265 786,209 234 782 1.103.256 12,093 1 647 856 53,224 45,462 53,224 Governance costs TOTAL RESOURCES EXPENOED Net lNCOMING/IOUTGOING) RESOURCES 5,497 (40,514) 411 (34,606) (5,563) Pension deficlt NET INCOMING/(OUTGOING) RESOURCES AFfER PENSION DEFICIT Is 5,497 (40,514) 411 (34,606) (5,563) Transfer (from)/to Deslgnated Funds 12 (15,874) 15,874 Transfer (from)/to Restricted Funds 13 2,000 (2,000) FUND BALANCES AT I APRIL 2023 FUND BAL4NCES AT 31 MARCH 2024 208 223 197 846 929 559 906 919 67 556 1 205 338 65 967 1 170 732 1 210 901 1 210 901 All recognlsed gains and losses are included above. Page115
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVE FUNDS DISCLOSURE - MARCH 2023 Unrestricted General Deslgnated Restricted Notes 2023 Total INCOMING RESOURCES Incoming resources from generated funds: Rental income Voluntary Income Grants recelvable Actlvities for generatlng funds Income of trading subsidiary Interest receivable Incoming resources from charltable actlvitles: Youth training Miscellaneous Income 634,038 4,098 25,000 634,038 4,098 25,000 609,967 4,234 609,967 4,234 297,331 18,232 22,608 26,785 346,724 18,232 TOTAL INCOMING RESOURCES 1 592 900 26 785 1 642 293 RESOURCES EXPENDED Cost of generatlng funds: Expenditure of trading subsidlary Charitable activitles: Childcare services Youth and other 5ervlces Premlses 532 507 532 507 82,265 703,207 234 782 1,020,254 12.093 1 564 854 82,265 786,209 234 782 26,960 1.103.256 12,093 26 950 1 647 856 56,052 26,950 56,052 Governance costs TOTAL RESOURCES EXPENDED Net lNCOMINGI(OUTGOING) RESOURCES 28,046 (33,444) (165) (5,563> Penslon deficit NET INCOMINGIIOUTGOING) RESOURCES AER PENSION DEFicrr 15 28,046 (33,444) (165) (5,563> Transfer (from)/to Designated Funds 12 {13,874) 13,874 Transfer (from)/to Restrlcted Funds 13 11,354 (11,354) FUND BALANCES AT I APRIL 2022 FUND BALANCES AT 31 MARCH 2023 194 051 208 223 937 775 929 559 79 075 1 210 901 67 556 1 205 338 Page | 16
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 CHARITY AND CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 TOTAL 2024 Charity Group TOTAL 2023 Charity Notes Restrirted Unrestricted Group FIXED ASSETS Tangible assets Investments 826,923 826,923 826,923 831,049 831,049 826 925 826 925 826 923 831 OSI 831 049 CURRENT ASSETS Debtors Cash at bank In hand io 54,310 414,781 54,310 480,748 64,415 492,321 141,882 406,608 56,420 528,559 65,967 65,967 469,091 535,058 556,736 548,490 584,979 CREDITORS: Amounts falling due wlthin one year TOTAL ASSETS LESS CURRENT LIA81LITIES 11(a) (129,771) (129,771) (145,200) (99,962) (130,206) 65,967 1,166,245 1,232,212 1,238,459 1,279,579 1,285,822 CREDITORS: Amounts falling due after more than one year NET ASSETS 11(b) {67,727) (67,727) (67,727) {80,484) (80,484) 65,967 1,098,518 1,164,485 1,170,732 1,199,095 1,205,338 FUNDS HELD Unrestricted funds: General fund Retalned In subsidiary 191,601 191.601 191,599 6,247 201,980 201,978 6,245 Total 191,601 191.601 197,846 201,980 208,223 Deslgnated fund Restricted funds Revaluatlon reserve 188,529 188,529 188,531 211,171 211,171 13 65,967 65,967 65,657 67,556 67,556 718,388 718,388 718,388 718,388 718,388 65,967 1,098,518 1,164,485 1,170,732 1,199,095 1,205,338 zrz- Charitable company's result for the year (34,606) (15,111) These accounts We approved by the Board and authorised for issue on behalf by: *.19.1 and slgned on Its Mr Michael Minta Treasurer Mr Mike Bromfi'eld Chair Page117
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash Generated from Operating Activities (see below) (49,830) (10,437) Cash Flows from Investing Activities Interest receSved Sale of tangible fixed assets Purchase of tangible fixed assets 13,592 4,234 13,592 (4,234) Increase/(decrease) Sn cash and cash eouivalents in the year (36,238) (6,203) Cash and cash equivalent5 at the beginning of the year 528,559 534,762 Total cash and cash equlvalents at the end of the year 492 321 528,559 2024 2023 Net Incoming resources Add back depreciation charge Loss on disposal of fixed asset Deduct Interest income shown in Investlng artivltles Decreasel{Increase) In debtors Increase/(decrease) in creditors {34,606) 4,126 (5,563) 6,126 (13,592) (7,995) (4,234) 7,827 Net cash from operating attivities (49,830) Note to Statement of Cash Flows The company's cash flow statement refletts the presentatlon requirements of FRS 102, under which the cash flow statement reconciles to cash and cash equivalents. Page118
YMCA Essex (Limited by Guarantee) Charity Registration No, 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I. GENERAL INFORMATION YMCA Essex is a company limited by guarantee and incorporated and domiciled in England. The Charity's registered number and registered offfice address can be found on page l. The functional and pre5entatlon currency of YMCA Essex and its subsidiary is the pound sterllng. 2. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practlce appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019)., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Charities Act 2011 and the Companles Act 2006. The financlal statements have been prepared under the historlcal cost convention, except for the non-depreciation of freehold property as explained in note 2.iv. The Trustees have decided to adopt the presentatlon of the Statement of Flnanclal Actlvlties rather than the Income and Expendlture account as required by the Companles Act as they conslderthat thls more accurately reflects the operations of the charlty. Basis of Consolidation These financial statements incorporate the audited financial statements of YMCA Essex and its subsidiary undertaking, YMCA Essex (Trading) Ltd., who has the same year end, consolidated on a line-by-line basis. Common expenses have been allocated between the operations based upon estimated use. The results of the trading subsidiary are detalled In note 4 to the flnanclal statements. The consolidated balance sheet represents the total assets and liabilities of the group. As permitted by section 408 of the Companles Act 2006, the Income and expendlture account of the parent charlty Is not presented as part of these financlal statements. The balance sheets of the Charity and Group are both shown on page 17. Charltable Expenditure and Support Costs The YMCA Essex operates a chlldcare, youth and community centre based at its premises in Victoria Road. Colchester dlvlslon provldes supported accommodation for young people. Charitable expenditure comprises the costs of programmes operated. No valuation is placed on the services provlded by volunteers without whom the programmes could not operate. Support costs comprise the costs of running the building less those costs allocated to the trading actlvlties. Management and admlnlstration expenses comprise administrative costs and common overheads, which cannot be allocated to specific activities. Governance costs are expendlture Incurred on the operatlon of the charlty as opposed to any speciflc activity and compromlse Board expenses and audit costs. Iv. Flxed Assets and Depreclatlon The Trustees consider that the freehold property Is malntalned In such a way that the resldual value Is at least equal to it5 net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The trustees perform annual impairment reviews in accordance with the requlrements of the Flnancial Reporting Standard 102 to ensure that the recoverable amount is not lower than the carrylng value. Other fixed assets are stated at cost less depreciation. The cost of Furniture and Equipment valued over £2,500 is written off over flve years on a straight-line basis from the date of acquisition. Computer Equipment and Motor Vehicles are written off over four years on a straight-line basis. Covenants and Donatlons Covenants and donations are recognised when received. No account has been taken of funds pledged but not received at the balance sheet date. Funds with restricted use are separately identified and are shown In Note 13 to the Accounts. vi. Financial Instruments The Group has chosen to adopt Sectlons 11 and 12 of FR5102 in respect of financial instruments. Basic financial instruments are initially recognlsed at transactlon value and subsequently carrled at this value less any provision for impairment. Page119
YMCA Essex (Llmited by Guarantee) Charity Re9iStration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Debtors No general provision Is made agalnst debtors. Known bad debts are written off and specific provlsion is made for any considered doubtful of collection. Grants and Legacies Receivable Income from grant and legacie5 is included Sn income when these are recelvable, except when donors specify that donations given to the charlty must be used in future accounting periods, the income is deferred until those periods. Where these relate to speclfic items of expenditure these have been included wlthln restrlcted funds. Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Government grants In respect of capltal expendlture are credlted to a deferred Income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to proflt and Ioss so as to match them with the expendlture to whlch they relate. ix. Taxation The Charity is exempt from tax on income and gains within Section 505 of the Taxe5 Act 1988 or 5ertion 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to Its charltable objects. Pension Contributions YMCA Essex particlpated in a multl-employer defined beneflt penslon plan for employees of YMCAS In England, Scotland and Wales, which was closed to new members on 30 April 2007. The plan's actuary has advised that it is not possible to separately identify the assets and liabilities relating to YMCA Essex, therefore the scheme is accounted for as a defined contribution scheme. Further details are in note 15. The group also contributes to a defined contribution scheme on behalf of its employees. Contributions made during the year are shown in note 6. xl. Unllsted Investments Investments are stated ot hlstorical cost. Related Party Exemption The Group has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland,, not to disclose related party transartions with the group companies. Flnancial Reporting Standard 102 reduced disclosure exemption The company has taken advantage of the followlng dlsclosure exemptlon In preparlng these flnanclal statements, as permltted by FRS 102 "The Financial Reportlng Standard applicable in the UK and Republic of Ireland" the requlrements of Section 7 Statement of Cash Flows for the company In the group accounts INCOMING ResouRCES The statement of flnanclal actlvltles contalns detalls of all the Income of the charlty. All income arose In the United Kingdom. Rental income is accounted for on a receivable basi5. Income received from charitable artivitie5 repre5ent5 mainly Youth Training funds and is accounted for on a receivable basls. The turnover of the trading subsidiary represents the gross value of goods sold and services provided. Fees bllled In advance for nurseries and out of school club5 are deferred according to the expected start date of the services provided. Page120
YMCA E55ex (Llmited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY YMCA Essex has a wholly owned trading subsidiary "YMCA Essex (Trading) Ltd., (company registration number 03041709) which is incorporated in the United Kingdom. This operates the childcare programme and room hire facilities on behalf of the charity. Its results for the year ended 31 March 2024 and 2023 are detailed below. PROFJT AND LOSS ACCOUNT 2024 2023 Turnover Cost of sales Gross profit Administrative costs (including interest) Operating proflt for the year Amount covenanted to YMCA Essex Proflt for the flnanclal year 718,240 521 233 197,007 140 919 56,088 609,967 427 555 182,412 104 955 77,457 Retalned proflt51(losses) at l April 2023 Retained in subsidiary at 31 March 2024 6245 6245 6245 AGGREGATE SHARE CAPITAL AND RESERVES 6247 6247 The subsidiary's registered office address is the same as the Registered Office address of YMCA Essex. Page121
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 S. RESOURCES EXPENDED Trading Subsidiary Charitable Activities Governance 2024 Total 2023 Total Costs directly allocated to actlvities Staff costs Other dlrect costs 453,575 67,658 416,443 96,072 870,018 163,730 774,992 143,949 Support costs allocated to activities mise Heat and light Repalrs Rates and Insurance Cleaning Rent 6,049 5,957 43,250 46,941 19,036 25,526 119,625 49,299 52,898 19,036 36,515 119,625 36,611 54,402 16,473 36,875 110,437 10,989 Office salarie5 and pensions Pensions admin charge Staff tralning IT costs Stationery and advertising Telephone and licences Fees and Ilcences Sundry expenses Depreciation Board expenses Conference costs VAT Input Tax Partlal Recovery Legal & Professlonal fees Fundraising costs Loss on Sale of assets Auditors, remuneration Loan interest TOTAL RESOURCES EXPENDED 109,140 240,331 3,992 3,490 23,578 3,732 6,962 15,995 349,741 3,992 3,490 23,578 4,962 10,220 15,995 4,026 4,126 4,492 2,408 (10,027) 310,974 3,657 11,845 21,369 6,233 10,055 10,335 1,203 6,126 3,438 4,052 {7,476) 1,230 3,258 4,026 4,126 4,492 2,408 (10,027) 4.943 4,943 9,080 9,080 8,655 648 1,742,148 1,564,854 662,152 1,066,424 13,572 Premises Costs are allocated on floor area and Administration costs are allocated on estimated usage. Page122
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Charity Group Charity Group 6. STAFF COSTS Wages and salaries Social Security costs Pension contrlbutions 573,654 56,788 26,332. 1,109,636 83,791 26,332 566,674 50,439 19,924 994,098 71,944 19,924 656,774 1,219,759 637,037 1,085,966 One employee received emoluments of between £70,000 and £80,000 (2023.1) The average number of employees (Includlng temporary and part tlme staff) was 91 (2023 total was 87). In addition, the charity uses the services of IO+ volunteers. No valuation has been made for the assistance upon which the YMCA Essex relies to provide many of its services. A further 11 volunteers acted as trustees on the Board. No Trustees have recelved any remuneration or have had expenses relmbursed. Key mènagement Sncludes the Trustees, the Chlef Executlve and members of the senlor management team. The compensatlon pald to key management staff for employee servlces Is £230,551 (2023.. £218,073). 2024 2023 7. NEf INCOMING RESOURCES This is stated after charging Depreciation (owned assets) Audltors. remuneratlon audlt other servlces 4,126 6,435 2,645 6,126 5,755 2,645 8. GROUP FIXED ASSETS Freehold Land & Bulldings Furniture & Computer Motor Total Cost Equipment Equlpment Vehlcles At l April 2023 Addltlons Disposals 825,000 44,490 29,432 13,194 912,116 At 31 March 2024 825 000 912 116 Depreclation At l April 2023 Charge for the year Ellmlnated on disposals At 31 March 2024 43,312 827 29,432 8,323 3,299 81,067 4,126 Net book value At 31 March 2024 825,000 351 1,572 826,923 At 31 March 2023 825,000 1,178 4,871 831,049 The property vias falr valued, as a one-off revaluation, on the basis of existing use value at 31 March 2016, by Elwell Taylor, Chartered Surveyors of 65 New London Road, Chelmsford, E55ex CM2 OND. On transltlon to FRS 102, the charity has taken the revalued arnount as the deemed cost and therefore further revaluations are not required. Page123
YMCA Essex (Limited by Guarantee) Charity_ Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Deemed Cost at 31 March 2024 is represented by: Valuation in 2016 Original Cost 718,388 72 912,116 9. INVESTMENTS Unlisted at Cost The charity owns IOOO/o of the Issued share capital of YMCA Essex (Trading) Ltd., a company reglstered In England. This company operates the trading activities as described in Note 4. 2024 2023 Group 10. DEBTORS Charity Group Charity Trade debtors Other debtors and prepayments Amount due from YMCA Essex (Trading) Ltd. 27.617 26,693 37,722 26,693 19,578 29,679 26,741 29,679 54,310 64,415 141,882 56,420 2024 2023 11. (a) CREDITORS: Amounts falllng due wlthln one year Trade creditors Other creditors and accruals & deferred Income Pension deficit Amount due to YMCA Essex (Trading) Ltd. 10,927 84,995 16,764 115,679 4,431 78,678 7,283 106,070 12,757 21,092 129,771 12,757 16,853 16,853 145,200 99,962 130,206 11. (b) CREDITORS.. Amounts falllng due more than one year Pension deficit 67,727 67,727 80,484 80,484 Page | 24
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. DESIGNATED FUNDS Balances 31 March 23 Net Transfer Balances 31 March 24 Income Expenditure Fixed assets fund New Projects Informal Youth Work Replacement Fund Colchester Fundraising Holiday Club Reserves Repairs Victoria Road 818,530 40,082 9,806 13,646 2,424 25,071 20,000 929,559 (4,126) 2,000 814,404 39,4SO 7,390 12,211 7,484 25,071 909 906,919 (2,632) (2,416) (1,435) (2,650) 7,710 5,000 12,710 (44,091) {53,224) 20,000 17,874 The flxed assets fund represents the value of the general funds held wlthin In the flxed assets (Includlng revaluatlon reserve) used by the charity, as such these are not available to support the other activitles. The replacement fund is monles set aslde for ongoing maintenance and Improvements of the building. The Board have also deslgnated funds to allow for the continuation of youth work projects once existing funding sources run out and to allow time for securing future funding. 13. RESTR[ED FUNDS The charity has received the followin9 amounts, which may only be used for specific purposes. At 31 March 2023 Income Transfers Salaries Materlalslother At 31 March 2024 Childcare services 18,108 (14,096) 4,012 Youth and other services 49,448 45,873 (2,000) (21,780) {9,586) 61,955 TOTAL ALL FUNDS 67,556 45,873 (2,000) (21,780) (23,682) 65,967 This funding includes donatlons that are specifically identlfled for Childcare. There are a number of Restrlcted Funds wlthin the Youth Work area, funding derives from various sources, Including Essex County Council, Chelmsford Clty Councll, Outreach (Comic Relien, Pollce Fire and Crlme Commissioner for Essex and other restricted funds. These funds enable us to provide a wide range of services and programmes for young people. These funds are monitored in varlous ways and thelr restrittlon Is that funds con only be used for the specific purpose for whlch they were granted. Page125
YMCA Essex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Fund balances at 31 March 2024 are represented by: UNRESTRICTED General Deslgnated RESTRIcfED TOTAL FUNDS Fixed Assets 826,923 826,923 .Net assets/(Ilabllities) 197 846 197,846 343 809 1,170,732 906,919 65,967 15. PENSION COMMITMENT Accountlng Policy: YMCA Essex participated in a multi-employer defined benefit pension plan for employees of YMCAS in England, Scotland and Wales, which was closed to new members on 30 April 2007. The plan's actuary has advised that it is not possible to separately identify the assets and liabilities relating to YMCA Essex. Penslon Note., YMCA Essex participated In the contributory pension plan providing defined benefits based on flnal pensionable pay for employees of YMCAS in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of YMCA Essex and at the year-end these We Invested In De-rlsking Solutions. The most recent completed three-year valuation was as at l May 2022. Placlng a value of the plan's Ilabllities requlres a number of assumptlons to be made about the future. Such assumptions include how long members mlght live after retiring and the return that will be generated by the plan's assets. After taking advlce from the plan actuary the Trustee of YMCAS In England has adopted what they consider to be'prudent, funding assumptions, having regard to the Employer's covenant and to financial market conditions. The Trustee's assumptlons are prudent in that they are deliberately cautlous about the future. Using such assumptions increases the target funding reserves and reduces the risk that the combination of the accumulated assets and future contributions will prove to be inadequate. The result of the valuatlon showed that the attuarial value of the assets was £132.Om. Thls represented 86% of the benefits that had accrued to members. The Pension Plan was closed to new members and future servlce accrual wlth effert from 30 April 2007. With the removal of salary linkage for beneflts all employed deferred members became deferred member5 as from l May 2011. The valuation prepared as at l May 2022 showed that the YMCA Pension Plan had a deficit of £21.3 million. YMCA Essex has been advised that It wlll need to make monthly contributions of £1,063 from l May 2024. This amount is based on the current actuarial assumptlons (as outlined above) and may vary in the future as a result of actual performance of the Pension Plan. The current recovery period is approximately S years. The Company has capitalised the pension deficit liability and these accounts Include a provlslon of £80,484 (2023: £97,337 which represents approximately 5 remaining year5. In addltlon, YMCA Essex may have over time liabilities in the event of the non-payment by other participating YMCAS of their share of the YMCA Pension Plan's deficit. It is not P055ible currently to quantify the potential amount that YMCA Essex may be called upon to pay In the future. 16. ULTIMATE CONTROL The group is ultimately controlled by the Board of Trustee5. Page126
YMCA E55ex (Limited by Guarantee) Charity Registration No. 1054070 Company No. 3171206 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. RELATED PARTY TRANSAcfioNS During the year YMCA Essex paid rent totalling £119,625 (2023: £110,437) to Blackburn YMCA for the use of premises in Colchester, owned by Blackburn YMCA. The Chief Executive of YMCA Essex is a member of the board of trustees of Blackburn YMCA. 18. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATION UNCERTAINTY Estimates and Judgements are continually evaluated and are based on historical experience and other factors, includlng expertations of future events that are belleved to be reasonable under the circumstances. a) Critical jud9ements in applying the entity's accounting policies There are no specific judgements, apart from those involvlng estlmates as detalled below, that management has made in the process of applying the entity's accountin9 policles that have a slgnlflcant effect on the amounts reco9nlsed In the financlal statements. b) Critlcal accounting estlmates and assumptlons The company makes estimates and assumptlons concerning the future. The resulting accounting estimates can differ from 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 year are addressed below. (c) Useful economlc Ilves of tanglble assets The annual depreciation charge for tangible assets Is sensltlve to changes In the estlmated useful lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates based on technological advancements, future Investments, economlc utilisation and the physical condition of the assets. See note 8 for the carrying amount of tangible assets and note 2 for the depreciation policy in respert of each class of asset. Page127