RegSstornd number. 03280406 Charlty number. 1061084 YMCA WALSALL TRUSTEES. REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 WR Partners Protecting your future.
YMCA WALSALL (A company Ilmltsd by guarantso) ONTENTS Paga Referen and admlnlstrative dotalls of thè Charfty, Its Trustees and advisBrn Tru8te8s' report 3-13 Indepondont audltors, report on th• financlal statsmonts 14-17 statement of finan¢ial a¢tivitiès 18 Balance 3hogt 19 Statement of $h flows 20 Notes to the financlal statements 21-35
YMCA WALSALL (A company Ilmlted by guarantse) REFERENCE AND ADMINISTRATIVE OETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees J Oak. Chair A Walsh. Vice Chair S Balogun G England M Fu8sell R Mhan (appointed 27 Juno 2024) S Patiick J Row* J Sargeant M Shenton G Slonyer (awolnted 11 D9mber 2023) P Tomllnson P Walker J Welsby Company registered numbor 03280406 Charity registered nwnber 1081084 Roglstored office The Small Street Centre la Small Street Walsall West Midlands WS13PR Company secrotary Jill Law Chlef executlve offiGer Steve Bavlngton Page 1
YIACA WALSALL (A ¢ompany Ilmlted by guarants•) REFERENCE AND ADMIMSTRATIVE DETAILS OF THE CHA, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR TrIE YEAR ENDED 31 MARCH 2024 Ind•pondent audltors v Partners Chartered Ac£ountants & Stalutory Auditors Belmont House Shrewsbwy Buslness Pa Shrèwsl)ury Shropshlre SY2 6LG Bankors Unity Trust Bank Four BdrKlley Plaee Bimlngham B12JB Chlef officor team Steve BaviNJton - Chlef ExalIve Officer Jill Law- Chief Corporate Oftker Sally Cowan - Chief Operations Officer (Place$) Joanne Goldie- Chlef Operations Officer (Programmes) H818n Brown- Chief Operatlons Offlcer (Early years) (appointed 10 June 2024) Page 2
YMCA WALSALL IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Thg TTUStefts pr090nt thoir Annual Report, together with the audit8d finan¢ial Statements of YMCA Walsall for the year ending 31 Bt March 2024. The Annual Report swve8 the purwe of both a Trustees. f8POrt arKI a Direclors, report under company law. The Trustges confirm that the Annual Report arKI finan81 statements of the company comply with the current statutory requirements, the requirements of the conwny's governing document and the provi¥ions of the Statement of Recommended Practice {SORP). applicable to charities preparing their accounts In accordance with tho Finanrial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective Octhr 2019) as 8mended by Updated Bullets'n 1 and 2. Slnce the Charlty quallfles a$ small under sectlon 382 of the Companie5 Act 2006, the Strategic Report requrred of medium and large ¢ompanie$ the Cthnpanies Aci 2006 (Strateglc Report and Directorfs Report) Regulations 2013 ha8 boen omitted. YMCA Walsal Is a charltsble company, wM$e sole menknr Is YMCA Blad( Country Group (the Group). Objè¢tivo$ and aCvItIeS MIlOn, Ethos & Values YMCA Walsall is a charity committed to community transfomiation. enabling people to develop in mind. body d spirit, and principally serving the area of Walsal, the 81a¢k Country, and South Stsffordshire aT&3S. Built a Christian foundation, wth an ethos that is indusive of all, we are a youminded organlsallon, wtth a communty wproach. We with thildren. young People arKI their famitres. offering support & odvice, accommDdation. family wo. 91th & wallbeing, and tralning arKI educatbn seNl¢e$. Dwlng the year the prinL¥ple a¢tiwlie$ of tho YMCA Walsall vmre youn9 people's housing (57%) and communty programmes {43%). Our value4 of Inspire, Trust, Compa83ion and Hope, $h¥ed In common wlth th¢ Group, de5uibe the way behave. They aim to be Christ centred, indusive for all and aspiratlonal. Page 3
IA cornpany limited by guardntse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectivas and activities Iconttnued) b. Connected Communltlo•: A Strat•gic Guld• Th& Chaiity8 direction of travel is guided by 8 groupide strategy, detalled In Connected Conwnunitles.. 202fy25, a Stsat8gle Gulde. This forward strategy will be delivered through five areas of focus. i) plac of Transforniation. A YAICA présènc& spread acros$ ourar9a, bwth transfomiational community impaG. Programmes for People. People developmentpmgramme4 ¢oveiing tha range of YMCA servwces. 111) Empowering Young Pooph. spe9} emphasis on enabling young people aged LI35 years, to Belong. Conln"but8 & Thrive. Iv) Growlng Ethos & Valuos. Nurturing an inclu&ve Chrislian culture, where everyone beneffts. Investing in TalenL Crathng a 6kn11ed, njotitrated and creative staff team to implemenl the Strategffc Guide. Achlevements and porfomanG• Koy financial perfomiance The charlty Is mlndful of rts Ilmlted resource5 and the challengiNJ operating environment cau1 by hlgher Interest rates on borrowing. and ri*ng Inflatlon vthich is multing In hi9hor costs for goods and services. Desplte this, it remain$ committed to fulfilllng Its mission of working wlth those in the local Community who are most in need. Durlng the 2023f24 financial year, the Charity generatsd a healthy Surplus of £19,259 compared wlth deficits during recent years. Thls Is prfmarlty on a¢Unt of our housing provision where 0UpanCY during the yew coupled with in¢rna38d occupancy lor our hireable office space at the Small Street Centrg, b. Revlew of ac11v108 of Thè Charlty YMCA Walsall provided 41 vulnerable y(xJng people with good quality Safe. secure accommodatton, In Our ¢xntral Wa18all 8UPPQrted houging propct. Occupancy rates avwaged 95% throughout the y?ar. Move on opportuniltes continue to be a challenge. During the year over 100 thildren received ch#dcare earfy ygarfs education through th& YMCA nursery. based at the Small Street Centre in Caldmore. Walsall. in partnership with YMCA Wolverhampton. Durlng the year. the decision was taken to operate the setting on a term-time OTY basi5 lo reflect the demand for early years proviston in the locality- ro re$ for Peo Our development programme8 covered a range of serrfice areas includlng leaming and skills. health & wellbeing, family work and support and advice prowamffes. Our Community Brandi in Walsall also has lacilities at the Small Street Centre, for other local d)arit5 and sodal enterprlses to deliver services arKI programmes for the local communlty, Nthi¢h ar8 compatible YMCA Walsall's ch818b1e objects. Page 4
YMCA WALSALL (A company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievaments and pertormance (continued PIogr•'mineA¢U Small Slreet has rec8nlly undergone much n8e(ied red8cor8lion and Improvements thanks lo a caplial gfant from the Clolh Workers Foundatlon which was secured In the 2023124 finanaal yeai. Earfy in the 2024125 year the Communal space and conference fooms have all been refijIShed in linè with brand colours. wlth new signage and carpds In addltion to a new kltchen area. Thls has been a welcom? change to the centre which is seeing more and more of Ihe publlc attending thè cenlre either to Sge the partners organisallons, or to gain support from the Communty Engagemenl Officer fof information, advice and gvldance. Small Street has bècome ono of Walsall Councils lop performing Communhy Connected hubs due to tho success wo havè in supportin9 local residènls with their issu82_ In athition, we have had a one yèar extenslon to the MaklTrg Connecllon Project whlch18 a social prescriblng proj#cl for older soclaly isolated indivitknals Yihich remalns a successful projacl meeting all of h aim9 and objectives. Office hlre has now retumed to full cap8cIty at Small Str&et wlth all available offlcès bèlnglgl out to tenants. Wlth th8 conferèncè rooms now belng renovated11 Is hoped that confèrenclng bookings wlll 8180 r8lum to th8 cenlre. Walsall Centfal The Glebe Centre has continued to run hs publlc health contract and the Insplre project ovar the past e1ve months. The tèam remaln InvoEv stratsglcally In the Walsall Drug and Alcohd Strategy Board and are r8cognlsed by our Commls8loneYs lor the valuable work that the Glebe staff undèrtake. Partnershlp work has also bpen further developed wlth The Beacon (drug treaknerrt provider) ub11sing spaco at the Glebe Centre ènd further public hèallh servlce3 nJTrning dinics from thè Centrn to Inueasè the health offer to the clients. The activity outlined above is Intended to enyower. Inspire and equip children and young people with new skills, resilience and hope. During the year. the George Wlliams Course (developed by YMCA Walsall) whith ovide5 an inspirational roadmap for residents to thart their joumey in developing life skills and toward independence aMMOdation, was completed by 8 Walsall reSidt9. It has also been used by residerrts of YMCA Black Country Group and YMCA WOlvertmpton. Growi Etho ues A new Christian Mission Coordinator for the group was appointed during the year. She is taking stock of Ihe Intemal Elhos Champions, as well as supporting the varlous settlngs wlth confidential chaplalncy support. Thls is expeGtsd lo increase as she is developing parlneT5hrps with bcal diaritable organisations and churches who are based close to the YMCA locations, incknding all YMCA Walsall sltes. Page 5
YMCA WALSALL (A company limlt•d by guarants#) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievomonts and porforniancè {contlnued) The Charity Group continued to supwi the nnIng of YMCA'S Unty Christian Mission events with face to face events resuming during the year induding 15 members of staff and trustees attending UK Unify in Malvem In May 2023. Our Chlef Operating Officer {Programmes) is a member of the YMCA Youth Unify Planni Group and led a small delegation of young people lo this event in gUSt 2023 in Budapest. YMCA European Unlfy took placa in Prague in FebnAry 2024 was attended by a number of YMCA staff and Board Members. The Christian Mission Coordinator further supports the spirtiual life of the organisation, particulaty in taking lead to provide pastoral support to staff and providing pastoral visits to project managers. The Charws Chaplaincy seNice has continued to be supported durfng the year through the W8st Bromwlch Church of England Deanery, and Blue Fish Chaplaincy. Wofverhampton. Further developments are planned for the next financlal year with the proposed recruitment of a new Chaplaincy Coordinator, ffti will be able to recruit, Iraln and oversee a team of volunteer thaplairn. The Chwity Group has continued to support Ihe of the YMCA Movemont through involvement in the Regic*Èal forums & netAorks and Govemance Commlttees. Inveslin in Talent The Charty was not immune from the CoStf-¥In9 crisis and the economic impact of increasing infiation. compounded by the fuel crisis placing a strain on the TrLBtee's ability to malntain real term pay level5. Vllhilst progress towards the implementation of tho Real Living Wage was not made. the Board set all stsff pay althie the National Minimum wage. During Ihe year, the Charity stsrted a ChIldre Apprenticeship Academy to train our own apprentices, in partnership with Central YMCA. Two cohorts of apprentices have now successfully been recruited and trained through the academy. In rewse to the cost of living rjisis, the Bowd a Cost of livlng uplfft of 5% for staff paid above National Living Wage from 1 April 2023, and 2.5% from 1 Apnl 2024. The Twstees would like to place on record their thanks to the Charlty's team of staff and volurteers, wtrK) in such unprecedented times havg made such a difference in the Ilves of many chlldren. young people and famlty members across Black Country and surrounding aa, evldenced En the above review of acuvwes. Pago 8
YMCA WALSALL (A company limltod by guarantse TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal r8vlew . Golng ¢on¢ern The TNstees have (mdertaken a d8tailed concem review of ¢urient arKI future operations of the company and group as whole and. after making approwiate enquiries, very thorouth con$lderalion of draft budgets and cash up lo March 2025 and beyo1. Having takon key strateglc dedsions, the TTUStee$ have a reasonablo expectation that the Charity has adequate resources to continue In operan81 exien( for th& foreseeable future. Trustees have no doubt that the Charity can pay its debts Ydhen they fall due, c¢rtainly for in exces8 of one year from the date ihe annual aco)unts were approved. For thi$ reason. they continue to adopt the going concem basis in preparing the financial statements. The Trustees noted at the time of approval of these acc¢Kmt$, the prudent budget setlin9 for 2024r25 had so far resulted in the charity operating as slightly above budgeted levels. At 31 July 2024 tumover (exdudin9 inter- entity IoMe) was up ck compared to butyt. Thiy resulted in 8 Month 4 posiiive variance a9anst budget of c.£17k attributable wlmarily to our housing opera11c. b. Reserwos pollcy For the Charity alone, the ¢ash reserv8 pollcy Is to be maintained at a mlnimum of the average monthty outgolngs, ththi¢h frjr 2023fd4 VIPS £56k. At 31 March 2024 the adual cash reservo was £183k thereby athieving tt)e pollcy requlremen In ¢on$lderlng medlLrm term rlsk$ the Board have agreed that unrestricttd fvnd3 strKuld be between 3 and 6 months operatlng Cost vthlch. at 31 March 2024. was a range of £168k to £337L Adu unrestricted funds equolled £201k provldlng rea¥suran¢e of finand4 stsbllity. The Board also tracks a measure of Income Se¢urlty. requiring tho proportlon of budgeted inmme comldered Sere to be >80% of the overall ljudget. Based on recènt perf0MnCe, buW8d aco3mffth2tion Is consldered secure. The Income Securlty Measure for 2023124 18 88%. A6 at 31 March 2024, the free reserves were in a deficit P08ition due to the Tralnlng Building restrfcted fund of £302.611 which enabled ihe Charity to develop the Training Building in the 19r20 financla year. Having considered tre addltbnal measures outlined in the above paragraKths, the Board is satisfied that the charity Is able to contlnue It's current activlties in the event of a significant drop in fundng. c. Deslgnat•d funds policy There are currently no resep4e funds designatod for Specified aclivty. d. Material inveslments pollcy Under the Artides and Artides of A$scKtation, the tharlty has the power to invest in any way the Irustees wish. The TNStees, havlng regard lo the Ilqutdlty iequlrements of day to day opwauons and to the reseDie8 pollcy, have. historicalty, operated a Fobcy of keeping 8uffi¢iènt funds avallable on current account {to offsel standard bank charges) and In an Interest bearlng account in order to generat8 a modest rate of retum on such monles. The Charity currently does not have funds avallabla to ulllls8 for investment purposes.. worklig caprtal Tequlrements are met from the Charlty's current acc(wnt. Page 7
YMCA WALSALL IA ¢ompary limiled by guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 e. Principal rf5ks and un¢•rtalntloS YMCA Walsatl maintains a Corwjrate Risk Register whKh i¥ then "RAG. rated. This is xrutinised by the Finan Audit and Risk Committee annually and presented to the Board for approval. This is raviowed on a regular basis by the Chief Officer team who, in accordance with the Risk Management Policy, are required to notify the Chair of the Board (nornalty vla the CEO) of any risks or any re evaluated existing RetaI[d (Net) Risks which exceed the Acceptable Rlsk Score Threshold as identified on the Corporate Risk Register. The FAR completsd its annual seruliny of Ihe Corpor Risk Register at its June 2024 meetlng recommended thls lo Ihe Board for approval. In addltlon, the Senlor Leadership Team are rnSPDnsible ftjr highlirtlng operationol rlsks which are Cepknred an Operational Rl$k Reglster. This is periodicaEty revÈewed at Senior Leadership Team meetlng$ viith additional risks arKI dn99¥ to exlstlng dsks discussed. f. Flnanclal risk management objectives and policies The Trustees have overall responsibilty for the system of Intemal financial control. the effe¢tiveness of tJlch As been reviewed and reported on to the Trustees by the Group Finance. Audit and Risk Sub Committee. The piinctpal elements of the systsm. which is desi to reo)gnl8e the spedfi¢ characterlstlcs and )bJertlves of YMCA Waball and the risk8 to whid) it is exposed, include: A dearly defined strudur6 which delegates aulhority. responsibilty and accountability, induding responsibiltty for internal financial control to management: A well establishèd budgoting and reporting furth4n. with budgèts and results reviewed at a senior level within YMCA Walsall to provide a timety and regular moniti)nng of financial perfomiance., investment evaluation process to en¥ure Tnjstees, approv81 for all major capltal expenditure commitments", and A regular review procedure catried out by YMCA Walsall of Its risk exposure and of tho systems of Intemal financial control in pLgce to miligate Ihg8e risks, w6th annual roports of findings to the Trustee$. Intsrnal financJal control, by Its nature, provtdes only reasonaNe and not absdute assurance against material misstatement or loss. Page 8
YMCA WALSALL (A ¢ompany Ilmlt•d by ouaMnt•ol TRUSTEES. REpoirr (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 g. Principal funding The principal funding source5 for tl Charity for the financial year were: Source £comn&st10n Rènt Donations Small Strèot C8ntr& W31s311 M8tropolt8n eorough t J Ar• of Vknrk IndudiTrJ HDUSW Benefil and Seff-Rent IndLsdiThJ Tl Glebe Centrè. Walsall Ah$hov5e R8rt31 of of[e sp3ce Co nTnLJruty Fund, The Glebe: W3lsoll Comm)tY Pknbs. r> Fi&ryA ff2nt Nalijnal Lottery Comnwnliy Fd- RC Midland RegrI "Inspire" (Glebe Centrel 0e[haMPton VDILnl3ry Settor Council G3rfi91d Woslon T8lentMaith Wot5o11 trb Snul Strget Cor9 Costs Further Information regarding th8 above sources and other amounts Gan be found In the attathed financial statements. StNctUrni governance and rnanag•ment a. Constitution YMCA Wahall Is a compary limited by guarantae and its govemlng document is its Artides of Assocration. It is autonomous of. bul afflllated to the National Councll of Young Men'5 Christlan Associations, which Is the methanlsm by lch Indlvidual YMCAS of EnglarKI and Wale8 federate. The sole member of YMCA Walsall is YMCA Black Country Group. For the sake of darty, all references to Trustees afe sJfft(ywmous with Drectors for purpose$ of Ccnpany law. The Objects of the YMCA Walsall. principally within its geographical areas are.. To advanGe thB Christian faith, indudiw by: promoting a Christian environment inspired and motivated by the lffe, example and teaching of Jesus Christ, where people ol faith and people of none can work together for the transforniation of communities; and enabling people of all ages and In particular young people. to flourish through experienclng and fespondin9 to the love of God demonstrated by the lif8. example and teaching of Jesus Christ,. b) To provide or assist in the provision in the interests of swal welfare of facllities for recreation and other leisure lime orxupation for men and w(xnen with the obied of improving their conditions of lrfe., To provlde or assist In the provision of education for people of all ages and In partlcular young people. ith the objert of developin9 their physical, mental or spiritual capacities; To relievg 01 assist in the lie1 of people of all ages and in p*Ucular young people, vtho are tn conditions of need, hardship or dist$$ by reason of their so¢lal. physlcal, emotional, splritual or ec4nomic orcumstances; and Page 9
YMCA WALSALL IA company limlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 stru¢ture• governance and rnanaggmont (conllnued) To provlde resldential acMmmodation, induding Social H(Jusing, lor people of all age$ and in particular ywng people, who arè in need. hardship or distres$ by reason of thelr soclal, physical, emottonal. splrftual or ernomIC orcumstances. YMCA Walsall welcomes, serves and vrkS with persons of all religlous faiths and of none. b. Methods of appolntmont or aloction of Tntste•s The Group Govemance Committee are tasked wlth overseekng the proce8$ of Board s11 gap an?51& and the racruttinent of new Trustees. Committee have been partlcularly aclive in tent years overswng the recruitment of new trustses as retiring trustees have Com?ted their thre8 of office. Th8y have sought to develop a heahY diversity. ensuring always an approprfat8 match of skill8 and ethos, combined with intentional desire to broaden gender, ethnioly and age wofiles. During the T the Board recrulled a Young Tru$t8e' as part of a regional effort among YMCA5 to brin9 down the average age of trust8&s and to ensure that a young persons, volce is heard at Board level. A young person who had been a resldent of YMCA Supported Lodgings applled and was suc£essfiJl. They are currenty being mentored by one of the trustees with the Intentton that they will be electéd at tha AGM In Novembèr 2024. The Board also wdcomed back Geofl Stonyer as a TNstee In November 2023 (having reUr8d as a Trustee in November 2022) in order to support development of our actNitie8 in the Wa18all arna. Further recruItmt is planned for 2024r25 Induding the recrultment of a °Young Trust88." The Board al80 Invited Errc Moore arml BreThJa Moore as Emeritus Board Members In May 2023. Tntstees are appointsd by electlon al AGM or co-optim, in aceA)r<lKe the Artides. Organl$atlonal stru¢turo and dgGi8ionrywAklng pollcleg YMCA Walsall's forward 8trat8gy. together wilh Ilgh level pollw are approved by Trustees. The Chief Ex8cutiV8 Officer ig responsible for the op6ratlonal implementation, dellvered through Chlef Officr8. and a wlder Senlor Leadershlp Team. d. Pay poli for sgnior staff The Group has established a Chlef Officer Remuneration and CEO Review Commtttee which meets annually to approve remuneratton of Chl81 Officer postj. . Rl$k management Trustses have assessed the major risks to the Charlty Is exposed, in particular those related to the operallons and finance of the Charity, arvj are satisfjed that tystems and procedures are in place to mltlgate exposure to the major r15ks. The FAR completed its annual scruttny of the Corpor* Risk Reglster at Its June 2024 m90tlng the Registsr recommended to and approved by the Board in July 2024. Pa9e 10
YMCA WALSALL IA company Ilmlt•d by guaranteel TRUSTEE8' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future perlods The Connerted Communitie¥'. 2020-25 strateglc guide. continues to provide the helpful steer thn)ugh thls turbulent time. containing sufficient Ilexlbility acmss the five aws of focus, to adjust to the thanging environment. Specific initiatives will in the comlng year Inthde the following: Exploring the utilisation of the land and buildirvJ5 adiixnin9 our premises at Gen Larbe which was purthased during the 2022r23 year. Expanding youth work and mentoring provlslon In Walsatt; Empowering more young people through sponsorshlp and volunteering opportunities., Rewiting Ethos Reps to 1 OOOA of YMCA [clOn$.. and Supporting in the Coordination of Youth Unfy and European Unlfy devotional programme8. Regulatory Bodles and Statutory Controls Charlty Commlsslon Trustees have consldered thelr obllgatfons to the Chariiy Commission and recognises that gt)od governance is ¢ssenllal to the success of a charity. YMCA Walsall abides by a Code of Governan¢e (see below). There were no serlous Inddents reportable to the Charlty Corrwnission during the year. Codo of Govomanco The Trustees acknowledge compliance th the Charity Code of Govemance (2020) whth was adopted in March 2021 and have tasked the Govemance Committee with the role of annual ¥¢rutiny to ensure canpllance. recommending remedial and improvement adionB to th8 Board. Fundralsln9 Slaten78nt FraIsing Ltndertaken by YMCA Walsall for itj tharitable %thities are carried oui by employé&s or voler$ of YMCA Walsall. Funds ralsed outside of contracts and traded income are mainly sourced through tharitable £rdrts obtalned through a ri9orou$ process of application. Funds presentty ralsed from voluntary donations are principally for Bp8fied purp08es, namly the 'Glebe Cenbe., wtth donations raised for the opttation of tho centre. provision of food and dothing. No fundraising has been undertaken on behalf of the YMCA Walsall by a contracted third-party individual or organisation. Value for Money A Value for Money Strategy has been developed in rnpan¢e with the Group's regulatory requlrements. YMCA Walsall proactivety engages wrih all ol its servite users whether this be through one to one suppo[( service user meetings or satisfaction questionnaires to ensure that the seNices delivered are fil for purpose and Outco5 achieved. Corthcted Nwjrk won under competitive tendering ytuaknons is sttuttni$ed against prl¢e and quality. wllh the negj to offer and deliver best value to secure contracted w. Exemp* housing rents are nLW regularly scrutinised by Local Authoritios to ensure Ihey represent value for money, Traded servlces (e.9. office & meeting room rental) operates wlthin the boundaries of local maiket forces to moderate price. Page11
YMCA WALSALL (A company fJmit•d by guarantee) TRUSTEE8' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Flnance Pollcy ot YMCA Walsall has dear levels of authority delegated to officers but wlth certain financial transactlons based on value and type of expenditure requiring Trustge approval. Financial and nonfinancial tputs and performance are scrutinised by the Grow),5 Finance Audtt and Risk sUcOmmIttee lor variances. In addltion. a Corporale Rlsk Register is malntalned. updated and reviewed on a regular basis. YMCA Walsall has benefited from cosl savings achieved by way of Groupwide procurement. Si9nifKanl cost savings continue to be achiéved in resped of insurance. audit and utility $ts. PAfeguarding The Group Safeguarding Committee is a wellostablished Comrrittee comprfsing of Trustses, Govemance Members. Designated Safe9uarding Lead together yth Designated Safeguarding Officers and which meets bimonthty to scrutinise saleguardlng inddents and to &nsuro compliance with legal and regulatory requirements induding the ieporting of inddents as they arise to the relevant authorities, including the Charity Commi8sion. Cons5deration of lurtherfng the YMCA Wal8all'$ Pury)oses for the Publlc Benefft The Trustees have nSIdered the general guidance on publlc beneflt Issued by the Charity Commlsslon and telieves that having revlEwed the Charity's aclivities undertaken to achieve its Charitable objects, the Charity does indeed provlde significant public benefit, Detslls of these actlviiles arg outlined in the Reviow of Acthilttes of the Charty. above. statemont of Trusta08' rn8ponslblllttes The Tru8tees (vtho are also the directors of the Charfty for the purposes of company law) are responslble for prèparing thè Trustees, report and the financial Statent$ In accordance wth applicable law Unlted Klngdom Accounting Standards (United Kingfknm GeTaI ACpted Accounting Practi). Company law requir88 the Trustees to wepare financial statnts for each finandal . Undèr company law. the Tnths must not approve the financial statements unless they are sallsfied that they glve a true and falr vlew of the stats of affairs of the Charity and of its incoming resour8 and application of resources. induding Its income and expenditure, ft)r that period. In preparing these firla4 statements, the Trustees are required to". select suitable accounting policies and then apply them consistently; observe the methods and prinoples ol the Charities SORP (FRS 102),. make ludgments and accounting estimates that are raqsonable and prudent: state whether applicable UK Accounting Standar(1s (FRS 102) have been followed. 5ui4e¢t to any rnaterial departtjres disclosed and explair1 in the financAal statements.. prepare the financial statements m the golng concem basis unle55 it is Inappropriate to presume that the Charlty wlll contlnue in business. The Trustees are responslble for keeping adequale accounting records thal are sufficient to ¥hcYw and eXdIn the Ch1$ transactions and disctose with reasonable ar3¢Y at any time the financial position of the Charity and enable them to ensure that the financial statements comply vth the Companies Act 2006. They are also responsible for safeguarding the assets irfthe Charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other Irregularitie& Pag8 12
YMCA WALSALL IA company Umlted by guarantsel TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dlsclosure of Infomiation to auditors Each of the per¥on$ who are TNsiees at the Ilme when thlg Trustees, report Is approved has confimied that: so far as that Trustee is are, there is no relevant audit information of which the charty's auditors are unaware, and that Trustèe ha8 taken all Ihe 8teps that ought to have beon taken a3 8 Trustee in order to bè avme of any TeleVrt audtt infomiation and to establish that the ¢harWs audltors are aware of that information. Auditor5 The au(rrtors, VVR Partners, have indicated their wllingness to ccnfinue in office. The designated Trustees Vbill propose a motion reapp)inting the auditors at a meeting of the Trustee& Approved by order of the members of the board of Trustees and slgnèd on thelr behalf by: ust Date:IE 20Z4 Page 13
YhlCA WALSALL (A eompany limltod by guaranto9) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMCA WALSALL Oplnlon We have audited the finanaal Stalaments of YMCA WALSALL (the'charfty,) for the year ended 31 March 2024 which comprfse the Statement cf financial activities. the Balance sheet, the Statement of cash flows and the related nots$, including o sumrnary of slgnlficant accounting policles, The financlal portIng framvdork that has been applied in their preparatlon is applicable law and Unltad Klngdom AcLountlng Stsndards, including Financial Reporting Standard 102 The Financial Reporting Stsndard appllcable In the UK and Rep[liC of Ireland (United Kingdom Generally Accepted A¢counling Pra¢9>. In our opinlon the flnanclal staiernerts: give a tNe and fair vlew of the $tate of the charitable company's affalrs as at 31 March 2024 and of its incoming re$our¢es and application of resources, indLxling its income and expenditure for thè year then ended: have been properly prepared in aOrdance w5th Unrted lfjngdom Generally Acceptsd A¢¢ountlng Practlce,. and have been prepared In accordance with the requirements ofthe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance wlth Internailonal Standards on Audltlng (UK) {ISAs (UK)) applicable law. Our responslbilitie5 under those standard$ are further de$(xibed In the Audltors, respon$ibilities for the audit of the financial statements Section of our report. We are independent of the charitable company in accordance with the ethical QuireMents that are relevant to our audit of the financial statements In the Unlted Kingdom. induding the Financial Reporting Coun¢ifs Ethlcal Standard, and we have fumlled Dur other elhlcal responsibilities in ac¢ordance with these requirements. We believe that the audit evidence we have obtalned Is sufficient and approprlate to provide 8 basls for our OFénion. Con¢luslon8 relatlng to golng eoncern In auditing the financial 3tatementg, we have ¢oncknded that the TNstees' u$e of the going concem basis of accounting in the preparation of the financial statements Is aFpropriale. Based on the worf( we have performed, VR have not identlfied any materlal uncertalntles relating to events or conthtsons that, Indivldually or collectively. may cast slgnfficant doubt on the charftable company's alxlity to contiNo as a going concem for a period of at least twelve months from when the financlal statements are authorised for issue. Our responslblllttes and the responslblllles of the Twstses wlth r88pect to going cx)nc8m arè described in the relevant sectlons of thls repofL Page 14
YMCA WALSALL (A company Ilmitod by guarantso) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF YMCA WALSALL (CONTINUED) Other Infonnatlon The other information crmprises the infomialion inL4uded in the Annual report other than the finanaal strnents and our Auditors. report thereon. The TnteeS arè responsible for the other information contained within the Annual report. Our opinion on finanaal statements does not cover the other information a1. except to the extent otheThvise expllcitly stated in our report, we do not express any form ol aSsanCe condugim Ihereon. Our responsibility is to read the other information and, in doing so. consider vtholher the Lher inforniation is materlally inconsistent with the financial statements or our knowledue obtalned in the course of the audil, or othewse appears to be mateTially misstated. If w6 Identlfy such materlal inconsistencies or app*eni material misstatements, y are reqiired to detemiine whether this gives rise to a material misststement in the financial statements themselves. ff, based on the work wa have perform8d. we concle that there is a material misstatsment of th1$ other inforniation. we are qUIred to report that fact. We have nolhlng trj report In thls regard. OpinDon on other mattèrn prnscrlbod by t Companies Act 2006 In oplnion, based on the work undertaken In tr£ urse of the audlt.. the inf0mtion given in the Trustees. Report for the financial year for whlch the financ4al statements are prepared is consistent wth the ftnanclal ststements. the TTUStee5' Report has been prepared in accordance with applicable legal r4uirements. Matterd on which we are requlred to report by exception In the light of our knowledge and understandlno of the charitable company and its environrnonl ol)tsined in the Course of the audit, we have not identified material misstatements in the Trustee5' Report. We have nothing to report in respect of the following matteTS in relation to which Companies Act 2006 rewires us to report to you If. in our opinion-. ad8quate a(£ounting records have not been kept. or Tetum$ adequate for our audii have not Lxen ceived from branches not visited by us", or the financlal statements are not in agreement with the accounting record& and rern¥,. or Certain diselo$ure$ of Tnjstees, remuneration specified by law a not made,. or we have not received all the 5nfomiatlon and explanatlons we require for our audlt,. or Ihe Trustees V•Ere not entitled to prepare the finan<xal statsments in accordance the small companles regime and tak8 advantage of th8 small companies, exemption5 in preparfng the Tnths, Report and from the requirement to prepare a Strategic ReporL P8ge15
WALSALL (A company limitéd by guarantso) INDEPENDENT AUDITORS, REPORT TO THE MEMBER8 OF YMCA WALSALL (CONTINUEDI Rosponsibilitiè5 Ot tru¥toes As explained more fijlly in the Trustees, responslbilltl8s statement, the Trustees (who are also Ihe directors of the diaritable company for th& 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 intemal control as the Twstees detemine is necessary lo enable the preparation of financial 8tatementg that are free from material mlsstatement, whether due to fraud or error. In preparing the financial statements, the Twstees are responsible for assessing the charitable ConwY's ability to continue as a going concem. disclosing. as appllcaNe. mattèrs related to golng concem and using the goi7g ry)ncem basi5 of accounting unless the Trustee5 either intend to liquldate the charitable c<>mpany or to ase opeTrtions, or have no realistic altemative bui to do 80. Audltors. raspon8lbllllios for th• audit of tho financlal gtalom•nts Qur objectives arè to obtain reasonable assurance about vthether the financial statements as a wtrK)le a Iree from material mlsstatement, whether due to fraud or error. and to issue an Auditors, report that includes o opinron. ReasOnae assurance is a high level of a&¥Jrance, but Is not a guarantee that an audit corKluded in accordance wilh ISAS (UK) will aayS dete¢t a materfal misstatement when it exists. Misstatements can arise from fraud cff error and are constdered materfal If. Indlvidually or in the aggre9ale, they wuld reasonabty be expected to Infiuence the economic declslons ol users taken +)n the ba8is of these financial statements. lffegularities, Indudlng fraud, are Instsncas of non-compliance with laws and regulations. We design procedures in line with our respon$ibilitles, ouulned above, to deted material misststement8 in respect of Irregularlties. including fraud. The extent to which ow wlureS are cap8ble of detectrng irr8wlaritie8. Indudlng fraud Is detalled below: • We revlewed the susceptibilty of the Chajltys financial statements to material mlsstatemenl and identified the principal risks. implementing a series of testing wocedures to provlde us with sufflcsent comfort to issue our oplnlon. We reviewed the Charity's régulatory environmont tg ensure V o)uld conclude that it had acted in cordance with the framework relevant to the Chanty and its 8rNlronffEnt and Identify any instances of TX. compliance. . We also assess8d the Charity's intemal control procedures to ensure we could appropriately scrutinise these controts and establish whether our underslanding of the ntrol environment was sufficient to suppleTrRnt our addltional testing procedures. The engagemènt team consisted of a team that the engagement partner belleves Is equipped with the relevant level of technlcal and Charity awareness to caTry Out our work to the required standard. Bese of the Inherent limltatlons of an audit. there 15 a risk that y11 not detect all irregularities, including those leading to a material misstatement in the financial statements or nOnomPlIanC8 with regulation. This risk increases the more that compliance 7Mth a law or regulatton 1$ removed from the events and transactions refiected in the financial statements. as we 11 be less likely to become aware of instsnces of non-L*iance. The risk is also greater regarding irregularities occuning due to fraud rather than etTor, as fraud involves Intentlonal concealment, forgery. collusion, oml8$lon or rr#srewosentatson. A fvrthèr deSer1pOn of our responsibilities lor the audit of the financial statements 1$ located on the Flnanclal Reporting Coundl's website at: This description forms part of our Auditorf report. Page 16
YMCA WALSALL ¢A company Hmlted by guaranl•o) INDEPENDENT AUDITORS. REPORT TO THE hmBERs OF YMCA WALSALL (CONTINUEDI Use of our report This report is made solely to the charitabfe compan9 embers. as a body, In accordance YAth Chapter 3 of Part 16 of the Companigs Act 2008. Our audit wort( has been undertaken so that we might state to the chariiable cfjmpanvg members those mAtters are required to state to them In an Audltors, report and ft)r no other purposo. To Ihe fullest extent pennitted by law, VIE do rt a¢xept or assume responslbillty to anyone olher than the c*aritable compan its members, as? body. for our audit work, for thls report, or for Ihe opinions have fomwd. Andrew Malpass BA { for and on behalf of WR Partners Chartered Accountants & Statutory Auditors Bdmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG nsl FCA (Senlor ststtrtory auditor) Date.. Page 17
YMCA WALSALL (A company Imlted by guarantsè} STATEMENT OF FINANCIAL ACTNMES ONGORPORATING INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 RCH 2024 Unrnstrlctsd nds 2024 Restricted fvnds 2024 Total funds 2024 Total 2023 Incomo from: Donations and legaei88 Charitable advllles Other tradlng actitieS 95.462 512,132 38,030 68,916 164,378 512,132 38,030 130, 729 536.093 16,562 Total Income 646,624 68,916 714,$40 683,384 Exp•nditur• on: Charltable advltie8 Support Gosts 402,753 202,745 83,944 6,839 486,697 208,S84 498, 740 212,275 Total •xpgndilur• 605,498 89,783 695,281 711.015 Net inComlexpendlturO) Transfers beiween fvnds 40.126 8,145 {20,867) 18,145) 19,269 {27.631) 16 Net movement In funds 48271 (29,012) 19,259 (27,631) Raconclllatlon of fvnd$: Total funds brought foNRrd Net movement in fvndg 1S2,720 48,271 372,350 (29,012) 525,070 19,269 552.701 (27,631) Totsl furKls carrlèd fon¥ard 200,991 343,338 544.329 525,070 The Statement of Financial Activltles includes all galns and losses recognlsed in the year. The notes on page5 21 to 35 forffl part of these financial statements. Paye 18
YMCA WALSALL (A cornpany Ilmltad by guarantee) REGISTEREO NUMBER: 03180406 BALANCE SHEET AS AT 31 hlARCH 2024 2024 2023 Not• Fixed Tangible assets 13 523,13S 521 727 523,135 521 727 Currnnt a8s•ts Debtors Cash at bank and in hand 14 50.105 183.423 50,570 98.505 233.528 149,075 Creditors: amounts falling due wlthin one 15 1212,334 (146, T32J Net ¢urrgnt assets 21.194 Z343 Total assets less current liabilitlv4 544,329 Net assots oxcludlng pension assat 54329 525 070 Tolal not assots 644329 525.070 Gharlty funds Restrithd fund$ Unrestricted fvnds 16 343.338 200.991 372.350 152.720 Total funds 544.329 52&070 The Trustees a¢knowledge thelr responslbillties for Complying v•ith the requirements of the Act with respect to accounting record$ and preparation of finanoal statements. The financial ¥t8tements have been prepared Sn accc*dance with the provlslons appllcable to entltles s)ject to the srnall MPanIeS reglme. Th8 ffinaniial statemersts wer¢ approved and authorised for issue by the Trustees and slgned on their behalf by: 18 SEP 6k 202lk The notes on page 21 to 36 fo part of these financial statements. Page 19
YMCA WALSALL IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2ff23 Nots Ca¥h flows from op•rating actlvltlos Net cash used in operating activiti08 18 11M,790 13.186 Cash flows from investing aGtlvities Pur¢*a$e of tangible fixed assets 119,8721 Net cash (used In)Iprovided by Invastlng a¢tlvltle• (19,872) Change in cash and cash oqulvalents in the yèar Cash cash equivalent5 at the beginnlTrJ of the year 84918 13,186 85.319 98.505 Cash and cash equivalonts at the end of the year 19 183,423 94505 The notss on pages 21 to 35 fomi part of these financial statements Page 20
YMCA WALSALL (A company Ilmited by guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2024 General Informatlon YMCA Walsall 1$ a company limited by guarantee. The members of the company are Ihe Trustees named Dn page 1. In the event of the Charity being wound up. the liability in respect of the guarentse is limited to £1 per member of the Charty. Accounting policies 2.1 Basls of prèparation of financlal stat•monts The financial ststements have been prepared in acciydanee with the Charities SORP {FRS 102) - ACLIntIng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thair accounts in accordance with the second edltlon Flnancial Reporting Slandard applicable In the UK and Republic of Irelarvj (FRS 102) (effective October 2019), the Financial Reporting Standard applicable in the UK and Republic of Iréland (FRS 102) and the Cowq>aries Act 2006. YMCA Walsall meets the definition of a publtc benefit entity under FRS 102. Assets and Ivabiliiies are Initlally recognised at hi$torrAI cost or transactlon vak* unless otheNl$e stated in th? relevant accounting policy. 2.2 Golng concem After making enquires. the Trustees have a rea$onaUe expectatlon that the Chartty has adequate resources to continue in operatlonal exlstence for the foreseeable future. Tha Charity Iherefore continues to adopt the going ¢on¢em basis in preparing tts financial statements. 13 In¢ome All income is recognised once the Charity has entitlement to the income. it is probable that thè income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised vthen the Charity has control over the item, any conditions a550dated with thhe donated ttem have been met, the receipt ol economie benefit from the use of the Charity of the item is probable Ihat economic benefit can be measured reliably. In accordance the Charities SORP (FRS102), ther general volunteer time of the Friends is not recognised and refer to the Tru¥tees' report for more Information about their contribution. On receipt. donated professlonal servicks and donated facilities are recogn15ed on the basls ol the value ol Ihe gift to the Charity which is the amount the Charity would have been willing to pay to obtain seNices or facilities of equivalent economic benefft on the open market: a cowesponding amount is then recognised in expenditure in the period of receipt. Income tax TeGoverable in relation to (bnatk?ns received under Gift Aid or deeds of ¢ovenant 1$ rgcognised at the time of the donatlon. Other Income Is recogni5ed in the periDd in which It is receivable and to the extent the goods have been wovidod or on complelion of the Service. Page 21
YMCA WALSALL (A company Ilmlted by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2A ExpEndlture Expenditure is recognised ortt there is a legal or constnjcllve obllgation to transfer economic benefit to a third party, rt is probable that a transfer of eci)nomic benefits will be required in setuement and the amounl of the obligation can ba measured reliably. Expenditure is dasstfied by activty. The c£>sts of each activty are made up of the total of direct costs and shared costs. Induding support costs invgfved In undertaking each adivity. Direct costs attributable to a sinsle activity are allocated direGUy to that activity. Shared costs vthlch contribLrte to more than one activty and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and deprecia1iDn d)arges allocated on the portion of the asset's use. Fundraising costs are those incurred In seeking volutary contrfbutlons and do not Indude Ihe costs of di55eminaling inforynation In of the tharltable activities. Support costs are those fx)sts Incurred directly in support of expeThJiture on Ihe objects of the Charty and indude project management carried out at Headquarters. Governan¢8 costs are Ihose Incurred in ¢onne¢tlon Mrylh administration of the Charity and compliance wtlh Constllutlonal and statutory requirements. Charitable actNitie8 and Govemance costs are costs Incuffed on the Charfty's operatbons. Inc4udlng support costs and colts ralating to the govemance of the Charlty apporttoned to charftablè acllvlfjes, 2.5 Govornment grants Govemment grantg relatlng to tangible ed assets are treated a5 deferred income aTha released to the Statement of flnandal actlvltles over the expected usefvl lives of the assets cA)ncemed. Other grants are credited to the Statement of flnanclal adivities as the rglated expenditure is incurred. 2.6 Interast rncèivabla Interest on funds held on deposit ts Induded fien recelvable and the amount can be measured reliably by the Charity; this is noMllY upon notification of the interest paid or payable by the institution with vthom the fvnds are deposited. 2.7 Tanglble fixed assets and depreclation Tanglbte fixed assets are inrtiaHy recognised at cost. After Tognition, under the $t model. tangible fixed assets are measured at G05t less aLumulated depreciation and any accumulated impalmient losses. All costs incurr1 to bring a tangible fixed asset into its intended WO1]g condition should be induded in the meastwement of cost. Depreciation is charged so as to alo(zte the cost of tangible fixed assets less their residual value over their estimated useful live5. Depredation is provided on the ft)Ilowing bases: Lont8mi leasehold property Fixlures and fittings Office equipment Computer equipment Straight line basis over remalnlng lease term - 15% rethclng balance 150A reducln9 balance 33.3% straight Ilne Page 22
WALSALL (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AOUnting policles (continugd) 2.8 Debtorn Trade and other d8btors are reyJIMSed at Ihe Settlement amount after ary trade discount offered. Prepayments are valued at the arr¥)unt prepaid net of any traje dlscounts due. 2.9 Cash at bank and In hand Cash at bank and In hand Indudes cash arKI short-term highty ligutd investrnerts with a short maturity of three M(th$ or le58 from the d of acquis1t1c or opening of the deposit or similar 2.10 Llabillties and provlslon• Uabllitles are recogni88d when there is an obligation at the Balance sheet date as a re8uIt of a past event. It is probable that a transfer of economic benefft wlll be requirgd In setuement, and the arrnunt of the settlement can ostimatsd relHbly. Liabilities are re¢ogAised at th8 amunt that the Charity anticlpates it will pay to settle the debt or the amount St has recefved as advanLd payments ft)r the goods or ¥eNic8$ it must provide. ProV10n8 are measur8d at the best estimate of the amounts required to settle Ihè obligation. Where the effect of the time value of money is material, the provision Is based on the present value of those amounts. dlscounted at the PTevtax discount rate that reflects trie risks specific lo the liabilty. The tsnwindlng of the discount is regnISed In the Statement of financial atxivbties 88 8 finance C¢xL 2.11 Flnanclal Instrumonts The Charty onty has finanoaS assets and finandal liabilities of a kind that qualify as baslc finAncial Instruments. Baslc fjnanrial instruments are Initialty recognised at transaL#ion value and subsequenlly trasured at Iheir setdement vatue with the excepts'on of bank loans which are 8ubsequentty measured at amortised cost using the effective interest method. 2.12 Penslons The Charity operates a defined cOntribut)n pension scheme and the pension charge represents the arTh)unts payable ty the Charity to fund in resperl of the year. 2.13 Fund accounting General funds are unrestricted funds which are avallable for use at the discretion of the Trustees in furtheran of the general objectives of the Charity arKI whldi have not been designated for other pUOse5. Restslcted funds ae fjjnds are to be used in accordan with SpeCff restrictions imposed by d0[S or which have been raised by the Charity lor particulaT purpk)ses. The costs of raising and athiinistering such funds are ch* against the specific fimd. The alm and use of each re8trtded fund is set out in the notes to the financial statement& Page 23
YMCA WAL8ALL IA company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Crftlcal accounting tIm•t99 and of judgment Estimates ar¥J I(ments are o)ntinually evaluated and a based on hlstorical experience and other fac¢xs, indudin9 expedation8 of future events that are believed to be reasonable under the circumstances. Critical aLrounting eslimates and assunN)tions: The Charity nmkes estimates a55umptions concemrng the future. The resulting accounting estins and assumptions will, by definition. seld¢)m equal the related a(*ual results. In the opinion of the trustees there are no esttmates and assumptions that have a significant risk of causing a material adjustment to the canying amounts of assets and liabilitF8S Within th8 next financial year. Incom from donatlons and legac108 Unrnstrlcted Rostrlctsd funds funds 2024 2024 Total funds 2024 Total lunds 2023 Donations Grants Governnt grants 41.632 41.632 1205 11.183 716.341 95,462 27.284 122,746 Total 2024 95,462 68.916 164378 130,729 Total 2023 126,771 3,958 130,729 Page 24
YMCA WALSALL (A company limitod by guarantee) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Incomo from charltable actlvtlles Unrestrlcted fund* 2024 Total funds 2024 2023 Supported Houslng Office rental income Lottery fundlng 408.011 33.000 71,121 408.011 33,000 71.121 351.678 38,100 146.315 Total 2024 512,132 512.132 536,093 Total 2023 536.093 536,093 In¢om• from other tradlng actlvltles In¢omo from fundralslng events Unrostricted fund$ 2024 Total fundg 2024 Total fvnds 2023 Saleable Servlces Small Street Centre Rents recelvable and recharges 8.017 30.013 8,017 30,013 6,081 10.481 Total 2024 38,030 38,030 16,562 Total 2023 16,562 16,562 Page 25
YMCAWALSALL (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Support ¢03ts Unroslricted Rostrlcted fvnds funds 21)24 2024 Total funds 2024 Total 2023 Central adminthtron Central adrnnistralion- vrageg arKI salaries Central administration- Nl Centr81 administratlon- pension costs Central admfftistration- depre(aation 128.888 67.407 4.633 1.817 128,888 67A07 4.633 1M17 5,839 116.068 82.328 4075 2.021 4783 5.839 Total 2024 201745 5.839 208.584 212.275 Total 2023 206,492 5,783 212,275 Charflable actlvltles Irt•d P&Jt Sml81 ToA•nl Ylll ¢b• Conrdn6 ¢•rtr• Crn Mal¢h 2Q24 25 Pwle Relal¢d Premlses Rela&d 492 376 68 21.059 154 207 7,146 120.178 111.009 73.CJ8 22 3500 4.744 11.320 28.490 4A41 180 1A10 2A8S 4.760 2.100 92 1MS1 3.fflS 3.150 72 14213 14.407 OUrOp¢r•thg Othtt•da 6.788 5.924 21275 18A34 14,871 $585 3,5trJ 21,912 1A46 13.494 13 2.014 10.9n 129 Dapia Fln9 &TranGthcUtsft CtsÉtB 1?27 134 14625 1Q 86W8 1.944 s4 157.284 192.098 312 10.809 14.175 4,241 4.715 62250 4A70 37.148 2M56 15.ZB8 15.511 71)0 18,053 Nauanal Insu[ra PEnskn Costs Tthl X12 7247 25.311 73.ni J3.3kNI 916 I98.74D TOW 2023 247,314 1h17 17.W2 42A76 58,696 58,896 49B.740 P4ge 26
YMCA WALSALL (A company rnited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Net In¢omel{gxpondlturo) This is stated afipr thargtng: 2024 2023 Depreciation of tsngiNa fixed assets: -0vM by the chaiity Auditors, rèmuneratron- accounts Auditors. remuneration- audit 19,464 1,065 19,277 860 3, 105 24,369 23,242 10. Staff costs 2024 2023 Wages and sala& Soclal securlty costs Contribution to defined contthutlon penslcn schemes 224,691 15A42 6,057 274,426 20.250 6. 736 246,190 301.412 Of the above £Nil relate¥ lo redundancy payments made in the year {2023.' £6,044). The average number of persons employed by the Charity during the year was as follows: 2024 2023 Housing Management & Adrran Other 13 12 The average headcount expTessed as fLlktime equivalents was: 10 (2023: 11). No errployee recelved Muneral10n amountlng to more than £60,000 in elther year. No key management are pald through the Charlty. Page 27
YMCA WALSALL IA company limited by guarontse) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Trte0$. r•mun0ratlon and expons•¥ During the year, no Trustees rerAved any remuneration or ¢)ther bènafits {2023- £NIU. Durfng th8 year ended 31 Marth 2024, no Trustee expen$es have baén IncuThed (2023- £NIU. 12. Taxation The Charitable Company is exempt from corporation tax on irs thaTllable activles. 13. Tanglble fixed assets Long leasehold Flxturos and Officè Computèr property flttlngs equipmènt equlpment Total Cost or valuation At l April 2023 Additions 547.062 220,146 19.872 164,829 3,904 935.941 19.872 At 31 March 2024 547,062 240,018 164,829 3,904 965,813 Depreclatk•n At l Aprl 2023 Charge for the year 113,801 5,679 137,076 160,S85 1.952 1,301 413.214 19.464 At 31 March 2024 119,280 145,316 164,829 3.263 432,670 Not book value At 31 March 2024 427,782 94702 651 523,135 At 31 Mah 2023 433,461 83,070 4.244 1.952 522, 727 Pag8 28
YMCA WALSALL IA company Ilmlted by guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l& Debtorn 2024 2023 Duo vAthFn one year Trado debtors Amow)ts owed by group undertakings Other debtors Prepaym•nts and accrued irthme 22,320 47,809 Z286 27,568 217 475 SO,105 50.570 15. Cr•dltors: Amounts falllng duo vAthln one year 2024 2023 Trade creditors Amounts owed to group undertakFrvJs Other taxatlon and sodal $8curity other creditors Accruals and deferred income 14089 49A76 14304 3,020 142,104 319 131525 212,334 146.732 2024 2023 Deferred income at 1 Aprll 2023 Resour delerred during the year Arnounts released from previous periods 124,926 117,227 1124.9261 57.128 124.926 (57,128) 117,227 124,926 Page 29
YMCA WALSALL IA company Ilmlted by lluarantj NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statsment of funds 8tatsmont of funds - curront year 8alan¢o at 31 March 2024 Balanc• at q Aprfl 2D23 Trnn8fern Inlout Income Expenditur• Unrestrfcted fund8 General Funds 151720 645.624 1605,498) 8.145 21x1,991 Training Building (Project 2) Residents Sponsorship Big Lottery The Glebe DMation$ Small St Donatlons Rough Sleepers Initiative Communty Fund Partnér8 donallons National Lottery- Insre Almhou5e Garfield Weston Christian Mission HSF Wals8N Connected WPH 310,$07 7,880 (7,307) 17,896) 17.880) 7,307 (775) 302.611 4643 5.000 (25.431) 24779 s.10 10,000 451 (10.0001 (451) {49) {1734) 1650) 1734 (20.000) {20.000) (1.000) 18A84 14.218) 20,000 4377 4377 2,616 1,782 2.2n 11,1)00 6,000 2.273 372,350 68,916 189.783) 18,145) 343M38 Total of funds 625,070 714,640 1695,281) 544,329 Pap 30
YMCA WALSALL IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2024 16. Ststsment of funds (conllnuod) Rgstrictsd funds The Training Building Fund (Project 2) has tjeen created for the development of the new TTaining Building Project. The Glebe Donatlons and Partner Donations are ad hoc donatK)nB received during the year to support the communty projects run by YMCA Walsail from The Glebe Centre. Small Street Dorrations are ad hoc donations received during the year to Support the communty projeth run by YfvICA Walsall froffl thè Small Street Centr•. ChTiStian Mission fLWKls provide support for Mission Intem. HSF is a Comnwnty fund to supply white goods and furniture. Walsall Connectsd is a Commurmty fund Ihat provldes dlgtal support forth& hard to Teach and elderly. WPH are fvndg for roomloffice hire. Page 31
YMCA WALSALL (A company linyted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1& Statemont of funds (conthiuod) Statemerrt of fund$- prforyear Balance at 31 March 2023 Balance at l Apn7 2022 InGome Expenditu Unrostrictsd fund$ General Funds 173,437 679,426 (700.143) 15Z720 R06tr1cted fund& Training Building IProJe¢t 2) Resthnt$ Sponsorshlp Big Lottery The Glebo Donations Small St Donation$ Rough Sleepers Inltlatlve Community Fund Partners dor*Jns National Lottgry- In$pirg 31&403 7.880 ,307) 44.236 1,044 10,000 451 1.823 Z734 (7.896) 310.507 7,880 (7,307) 46,342 3.665 (1.559) 10,000 451 293 (1,417) 2, 734 379,264 3.958 (10,872) 372,350 Total of funds 551701 684384 (711.015) 525,070 Page 32
YMCA WALSALL (A company limlted by guaranteé) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Anatysis of net assgts between funds Analysis of net assets betwgon funds - curront perfod Unre$trl¢ted Restrl¢ted funds funds 2024 Total fundg 2024 Tangible fixed assets 179.797 233.528 (212.334) 343.338 523,135 23&628 (2113341 Creditots due within one year Total 200.991 343.338 544329 Analysis ol net assets between funds- prfor perlod Unr8Stricted Restrict8d fvnds funds 2023 2023 fiinds 2023 Tangible fixed assets Current assets Creditors due within one year 150,37T 149,075 (146.732) 372,350 52Z 727 149.075 (146,732) Total 15Z720 372,350 524070 ReconcIliaOn of net rnovomont in funds to net cash Ilow from operntiry activiti 2024 2023 Net Incomelexpendlture for the period (as per Statement Flnancial Activities) 19,259 (27,631) Affjusknents for: Depreciation tharges Decrease in debtor8 Increasel(decrease) in edor$ 19A64 46S 65M02 19,277 29,228 (7,688) Not cash provld•d by operating actmtles 104,790 13, 186 Page 33
YMCA WAL8ALL IA company Ilmlted by guarnntgè) NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Anolygls of cash and ca8h equivatents 2024 2023 Cash in hand 183h23 98,505 Totsl cash and cash equlval8nls 183,423 98,505 Anatysis of changes In net debt At l Aprll 2023 Cash flows At 31 March 2024 Cash at bank and In hand 98.505 84918 183A23 98,506 84,918 183A23 21. Pension commilments The Charity operates a defined cltribUtIon p$10n scheme. The assets of the 8theme are held separately from tho$e of the Company In an iidependentty admlnistsred fund. Th9 pension cost charge represents contributbons payable by the Charity to trE lund and amounted to £6.057 (2023.. £6,736). Page 34
YMCA WALSALL IA company limil•d by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR TrIE YEAR ENDED 31 MARCH 2024 21 Operatlng loaso commltments At 31 March 2024 the Charlty commitments to makè fvture minlmum lèase payents undw no cancellable operatlng18ases as follows: 2024 2023 Not Fatsr than 1 year Laterthan 1 year and not later than 5 years Later than 5 yèars 25,400 18q,600 28AIJO 35,400 1,600 24700 235,300 6&700 The following lease payments have been rewlsed as an wense in the Statement of financial actlvltle& 2024 2023 Operatng lease rentals 35AOO 60.200 23. Related party transactlons The Charlty has taken advantage of the exemptlon available nol to di8dooe transactions entsred Into b&lween two or more momb8rs of a Group. as Ihe Ch* is a whglly owned subsidiary undertaking of Ihe Group to whlch it Is party to the transacilons. X Controlllng party The ultlmate parent company Is YMCA Black County Group. a company registered In ENJlarKI and Wale$. Page 35