Company reg￿tratiOn numbor. 03426094 Charity registrauon number,. 1066919 Plymouth Young Men's Christian Association {A wmpany limlt8d by waranlee) Annual Rewt and Finan(xal Statements forthe Year ErKled 31 Marth 2022 Plymouth Young Men's Christian Association Contents Referen￿ and Admlnlstralive Detalls Trustees, Raport 2to10 sbtement of Trusteos. Responsibiltttes 11 Independent Audltors. Report 12to16 statement of Financial Ac*wties 17to18 Balancè Sheet 19 strat￿nent of Cash Hows Notes to the Flnanaal Statements 21to37 Plymouth Young Men's Christian Association Reference and Administrative Details Chlef Executlve Officer T(Kn Lavis Tru$teo$ John Coates- Chair David BaOis OBE Dean Bennett Rev Lawr￿ Brasctr Tom Buttrlss Graeme C8lJing Arash Dinari Helen Hart Victor Hibbert He￿n Meneilty Jeremy Sleet Annette Sti>ne Secrotary Maiglla Azzopaftli Prlncipal Office Honid(ncMI8 Lan8 PIyTnoulh D&von PL5 3NG The tharity is inc(4￿led in England and Wales. Company Registration Number 0342eA)94 Charlty R•glstratlon Numbor 1066919 Audltor PKF Frarth Clark North Quay House Sutton Harbour PLYMOLrrH PL4 ORA Page 1 Plymouth Young Men's Christian Association Trustees, Report The Trustees. vlho ar8 dlrectors for tha purposes of ￿MpanY Lqw, t)resent Ihe annual report lowher th the flnanGial stalem8nls and aLKlllofs rep(xt of lh8 charitabl& company for the year ended 31 March 2022. The finan￿aL statements have been prepared in 8ccA)rdance with accountlng policies set oul in note 1 to the atx(iunls and ccfftply wilh the Charitls Memorandum and ATticles of Association. Iho Charities Aci 2011 and Accounting and Rokxjrting by Charities: Statement of Recommended Practice (SORPI applicable to charities preparirKJ their accounts in a¢xordance with the Financkil Rèporting Standard appliczbl8 in the UK awKI Republic of Irdand se￿r￿j edltiw - October 2019. ObJactlve$ and actlvltles strateglc ObJeGtiVOS YMCA Plymouth has thrge main alms.. th￿e are to.. 1. Be viable and sustalnable by. . Maxiwnisiny asset value . Generating greater econorThes of scale. s(#)p6 arMJ effioendes through (￿labO￿t•￿ and partnerships and . Changing the income mix aThJ reduung [elL4n￿ on stsiul¢yy frjndi 2. Extending our influence and irnp8d by. . Effective evid8ncewbased research • Communicat1[￿ and promoting tha aGtivibes aThJ impact . Demonstralw)g arKI measuring Ihe impact 3. Worl(ing together better to deliver better ty- . Modelling good governar￿e and manwJement BuildirvJ capacity and skills . Delwerfng safely to consisÉenty high quallty and standards Backgmund YMCA PIyThiYJth has t*en providing Cyportun￿eS f￿ yourwJ peoplo since 1848. It Is afflllatsd to YMCA England and is part of a wder Inl8matK)nal Movement ￿ 45 mlllbn members operating In more than 125 countrl8s. It is a charlty and company limlled by guarant88 that is governed by a voluntary 8oatd of Trustees. Th8 Board of Twstees d8temiine the vIsic￿ and diraction ol thg Association. Executlve summary YMCA Plymouth offer a wide raTrJe of seThi￿ across two fa(*litkgS. We opefale frcrfn our main centre, bas￿ in Honicknowie Pfviouth, as well as from a communlty hub in Torpoint. Comwall. Our mission 18 lo delwer professional and personal servw that support ￿Ung people our comrnunity. focuslng on 3 strdlwc priorities.. . Trdining and EdU￿tion Health & w811b￿￿J Family Work Py2 Plymouth Young Men's Christian Association Trustees, Report YMCA Pl￿nOUth are an Indusfve charity that aims to reach oui to an peop￿, Insplrfng them to dÈv8lop in mind, body & Spl￿t. We do this by suppotting yourNJ peO￿e arKI th8 WKler communty with services including.. . Vocalk>nal Trainir 4 Community Gyms Fitness Class8s . Gras5 root Sports & Actiwties Disability Sports & Actimties . HoFiday Club provision . CardiaG Rehabilitation . Targeted Youth Wc¥k . Crisls SuppyJrt . Afftirdabla Faalty Hire Family Activities • Social Prasuiplkjn Acllvlties . NEET Eng8￿ment & Emplordbllty Prwamrnes YMCA P￿0[rth slrlyes to be a sustsNiabi8 charity whlch balances the lo g8nerale Income whl achIe￿ng our So￿al impact. Our s￿F81 enterprise activities help sustain our orgaThsation, whilst maximising the sodal berieflts and charitable work on offer lo our c(*nmunty. YMCA Ptymouth's revenue is fvrth8r supported by comtHnalion of grants and fvndlng streaTns allow us lo develop. promote and deliver innovalive new programmes to Invest in our people. r￿aT￿lesS of age. ge￿Ier aThY gx#al ee￿nOMiC backgrounds etc. Based on a t￿year growlh IrerKI, YMCA P￿OUth mada inpmvements in c#Jr annu81 sales arKI funding projections. whith was in eX￿sS of £1.6 mitlw)n for 2021122 despite COV1[￿19 impact. In addition, Dur wage8-t04nc￿1e rdlio has redu￿1 to 58%, lurther demonstrating stringent fin8ncl*l management. We have contN)ued to se¢ur8 nUMer￿S partnership ￿￿tracts with the Local Aultr¥)rity. sohools 8nd the Education arKI Sklls Funding AgenGy. our ex￿rtiSe on sport. rg(tsatK>n aNJ educatlon markets. These efforts maintain our lon￿8￿￿ sustaina￿￿ty. vknNst allowing u8 to plan for the future. Addltionalty, YMCA PWiyJth has devekjped a new marketlng stralew over th8 past 18 months, particularty W[￿ regarijs to soual media Plat￿rn￿. with targeted a￿ertising and PfL)rrK)tior¢al campaigns aimed at incwsiw (Mjr membership. student numbers and Club bcM)kings. YMCA Plymouth is svilabty stnjcturgd wilh expertise in both Govemance and Management, ensuring every KEnny raised is wisety Invested back into our enterprise and charitable activities. Al programmes are scnJlinis8d monthty by the Leadwship Team for success, affOrda￿lIty and purpose. Subsequent infomiation Is cascaded lo Ihe BoaNI of Trustee5. Ythere future direction can be discussed, mapped out alld suitably resourced. KKovNJing a ￿le31 pr￿888 of'review-andth,, for the b8nefits tsf our members in our communlty. Plymouth Young Men's Christian Association Trustees, Report Vl$ion, Mlssl¢n & Valuè$ Our Vision: To be a 18adiThJ Education, Hoatth and Families (• in our ts)mmurMty. that 8nables all peopl8 10 belong conlribuie and thrive Our Mlssion: To deliver professional and peT%)nal semces that suprth y)ung Ffjop￿ and our communlty's Edu￿1￿)n. Health and Farnlly noeds Our Values: Welcomlng . We offer people the space they need to feel Se(￿re, respec￿, heard and valued Empowering . We inspire earh person we meet to realise ovm strengths atKI reach their full wtenlal In all they do Inclusivanes5 We ensurè that ever￿￿￿￿, regard￿ crf Iheir ability, aga. ethni¢ity. gender. religlon, sexual orlenlalion or soclo8conomic ba￿ground has thg opportunlty lo bebj￿. contribute and thdva Sarvlng . We are committed to the Wel1b￿n￿ of th& communltles serve and b91ieve ift th8 wslfjve ben8fft of participatlon, lo￿1￿ and in the wkler W￿ld Business Overrflew & Stru¢ture YMCA Plymouth is an independent registered thartty affiliated to th& Nalional Council of YMCA'S in England & Wales. Our affiliation lo YMCA England & Wa￿$ enables us to b8 part of a large networf¢ of YMCA'S in order to share resources. leam from best practice. be part of the national brand and coordinate with na￿n81 campaigns advO￿tIr@ for pecple. Whilst being part of this federation S￿11 remain autonomous as a charity enabl￿￿ us ts shape our prov1s1￿ independentty to address loca1 needs. p￿e4 Plymouth Young Men's Christian Association Trustees, Report Buslnes8 Model Our charfty business mod81 is dNlded between "thalilab￿ work. and-communlty provi$K)n". Whlle there is much overfap ￿tween both areas, we broadty define our Ser￿e5 wlhin these categories on the basis of Ihg followrng criteria.. 1. Whether the service generates surplus 2. How targete(I ￿ vulnerable the benefici81ies are 3. How speciflc th8 soclal OUt￿meS are lo those individuals Through this framework. th8 surplus generdting provision fdlows a ￿lCa1 scKlal enterprise mcxjel. maklng a social impact whlle generakn'ng surplus lo both reinvest in the SeN1￿ themselvgs and support our charitsbla servli*s. As a charfty thls makes us less dependent on grdnts and donations whilst broadenlng our social impad at the same time. Soclal Impact YMCA Plymouth's work reaches over 20,0(M) each ￿r. Thr(wh our worf( areas of education, health and familles, we make a posluve iwnpact on people's INes in a mulbbJde of w8ys,' from improved wellbeing to gaining skills for lrfe, to feeling a sense of belongiry in their community. YMCA Ptymoulh operate5 in and near local areas wilh particularty hM)h levels of deprivation. including areas within the 4-10% most deprwed in Eruland. Over 70% of YMCA PIyTnoulh's salv￿e users come from areas within rnediumth￿h of deprivatkjn. Our Impact is measured lJ)ough a mixlure of quantilatNe ar￿ qua￿'tative data gathe￿￿ through Surveys. data from our EZ Fadllty S￿tern. and measures particuL4r to work artsas., suth as College achievemenl rates and cardiac patient Wlth Checks. Highlights fffjm our impact reP￿t are available at: httpsJlwv.wncaplym¢￿.0rg.ukJabOutll￿rnpaC1 Publlc benofi¢ The Trustees confirm that they have complied ￿1h Ihe requirements of section 17 of the Charitiès Act 2011 to have due regard to the public bwLefrt guidance published by the Charity Commission for England and Wales. Th8 Trustees do nol r￿1Ve any private ben6fft from the Charity. Golng concern Th8 Trustees have a reasonabl8 expectation thal the oryanisalkin has adequate r@sour￿$ to Ixjnlinue in operational exisl8n¢e for at least the next 12 mi)nths. For this reason. they ￿tinUe lo adopt th8 going (x)ncem basis in preparing the finan￿al stslem8nts. The Trusle8S 8cknowlety, however. that Ihe cha￿ty 1yj￿entty ra￿S some chaI￿nge5 and uncertainties arising from bolh tts own flnancial postilon and the wider economic erMronmenL and thèse uncertainties are set out in mo d8ts11 In the Financial Revl&w below arml also in the Accounttng PoliriBs. Plymouth Young Men's Christian Association Trustees, Report Flnanclal Rovlew During tha year the ¢harty rec£ived incoming re￿U[ceS of £1.643,153 12021.. £1.423,273) and had total expendi￿re of £1.582.284 (2021: £1,297.3411. Thi8 resulted in nel income of £60,869 12021'.£125,9321. Th8 total msgrwes of the charity at 31 MarGh 2022 wwe £1,809,226 {2021: £1.748.357}. Unrestricted reserves at 31 March 2022 were in deficit a￿1 stL￿1 at {£549.689) (2021.. {£156,08211. Fre8 reserves at th8 year end, C￿cUlated as unrestrided r6serv8s less tIN)se represented by fixed assets, w8re In d8ficlt by1£920,488}. Thg Trustee5 have prepared budgets and cashflow f(wasls lo the end of NovBmber 2023, based on prudent assumptions and p05&ble atternab've ￿nariO$. Th& charl￿5 fore￿$1 Cash wsilion improves throughout this peri￿, although th& Trustegs re(x)gnise that the ¢harity YAII require the continued support of the bank in the fomi of an overdraft ￿alitY at various stages durtng this time. Cash is forecast to b8 £75k al 30 Novamber 2023. The budg81 for the year trj 31 March 2023 rewts a surplus of £711k, after depreciation. However, rf is imw)rtant to note Ihat this suwus Inthdes a siwificant On￿ffI8gaCY receipt of £825k. If the impact of this legacy were to be removed, tho undeftyllYJ r8sutt ￿ a dar￿1 of £114k. A futhr dallcll of £28k forecast for tho pericKI to November 2023. The Trustees have consldered how InfOnnat￿ at¥)ve. like many charitses and businosses, taken together w￿h the cuffenl (x)sl of li￿ng uisis, wder e(X)nOm￿ environment and infiatK7nary pr6ssures, Increases uncertsinty in relation to fhe WTWJ concem ststus of the Charity. They have concluded that ther8 is an incmsed risk lo Ihe tharity. They are also aware of Ihe negd to retum free reserves to a SLwplus posilvjn in order to improve the filla￿al resilien￿ of the oryJanisation and to meet the charivs reserves wlicy. As suth, they have taken the steps sel out below.. . The one off legacy was ut11188d. in part. to EQY off tsvo large k)?￿$ totslling £268k. Thk5 was In order to reduce the liabilities ar￿ Improve fuiur8 eashfk)ws . As part of their five year strategic plan. the Twstees took Ihe de￿$0￿ to inv8St in the facilibes. This investment was b)th in tsmis of upgrading public areas such as the r8ception. loilets. changing rooms and entrance way as well as growng the provisK)n with a new gyyn. spin sbjdio, soft FAay facllity and astr￿lurf court. This plan was athieved within and a hall years. thus enabling YMCA lo grow revenue slrearns and mitigate any shoTttalls M other areas of lh8 business. . The Trustoes continue to 8xplore new ways ol In(*gasing revenue and using their assets efficienuy. Current negotiatK>ns are underway lo secure a kJrKJ leasehild whlch w¢)ukl generat8 cBsh income of £525k Plans for the FX)ssible sal6 of the copse area are also being explored - thls wouw 98nerale sale proceeds in the region of £60k. Altemativety. the TN8tses believe that possiblg parlnership arrangements on this land ¢oukJ gener8te be￿) £60k to £1Wk per anThJm for Ihe charity. The88 items are not Induded in the budget. Th8 Trustees 8re of the ￿&W that the chaiity will secure some ￿ldi￿onal incom streams in the current year. Thes8 hava not been included in lh8 bUd￿ts due to th8 fact Ihat they ara not yet at an agreed stag8, including an extra £101Jt of ESFA Incom8 resulkn.ng from additional studen* numbers In addtbon. key memb8rs of the SLT (CEO l Business Devek)pmenl Manager l Fundraising & Evonts Lead) have been working flrele881y to grow the YMCA brand ILrAly, ne￿OTkIng 8nd dèllvering presentslions for Devon & Ptymouth Chambér of Cornmerco, P￿Outh Ar8a Business Counixl and the Plymouth City Councll's Adult Educati￿ Board. As a resul( YMCA have increased sponsorships, grants and 'inthind' gestures to further devdcp Ihe i￿Ik11ThJ. smth an example bglwd th8 brand new coffee-bar I community kitchen du8 to start in 2023 (at no ¢x)st to the YMCA). Having taken all of this into Cons￿￿eratIon. as well as the continued SUPPDrt of the bank and funders. the Trustges Consider that ther8 is a gocyj d￿llce of success and therefore the going concem basis of accountlng remains aprryriate. Page 6 Plymouth Young Men's Christian Association Trustees, Report Reserves Pollcy The reserves policy is r8view8d annLJally by the Board of Trust69s. Thè pdicy seeks to achiev8 fiscal stability by the continuous strengthening of the Chari￿$ r8serYes. Thi% is no¢8ssarily a rdativoly slow process, giv8n th8 sector in which YMCA p￿OUth operates. tha nature of the services provlded, the fijnding stwctur6 of the projects undertak8n arKI the inL¥easingly difficult financial climat8. A policy of ftjll cost recovery is applied to all contracts wherever P0s￿b￿. D&splte the drfficult economic climate, YMCA P￿t)Uth has continued to maintain all its exi5tirvJ ￿ntraCts. We are aiming to athleve 3 months of njnning costs lexcludlng doprpciation) as a reserve. being £400,000. In th8 1st instance our pri¢Mty over the next years Is to accrue at least £100,000 in free res8Thes. The Board has established an expthtion thal. apart from community services, every project LY servic8 musl go into a new fw)anGial year a b818nced buw. struclure, govomanco and management Constitutlon P￿C￿jth YMCA Limit8d a company limrted by guarantee ￿verned by its MemLYaThlum of A8soclatlon dated 23 June 2009 and Artiths ofAssoclatkn dated 26 Decembgr 2019. 11 is reglstered as a c*arity the Charity Commission. Re¢mltment and appolnbngnt of Tn￿(BeS AppoInt￿ent of Trustees Th& Board of Trust&8s, whD a￿ also Direclors, consists of a number of irKlividuals elected from amongst tho Full Members at the AGM as requi￿1 lo erkwro that, following th8 AGM, the tr)tsl number of Trustees will rA)mpise a mlnimum of stx arml a maxlmum of fourteen. Trusle8s ar8 appolnted for a peliod of thre& years, whith may b6 rotM¥ed twice. by vol8 at thè AGM. A Truste& who is rellrlng fir)m office after three ternis of thro8 Jpars shall not be eligible for re election untll a pe￿0d of ￿e1ve months has expired since they were a Trustee. The Board has thè powgr to eo opt new Trustsfjs between AGM meetings as they (¥Jnsder appropriats. Appoilltment of Chairynan and Vice Chaimian The ChaiM￿n and Vice Chaimian are e￿Cted by the Board aThJ the Board deLMde the period during which the Chairrnan and Vtce Chaimian are each to hrAd office. An indi￿ual may only hold office as Chairman or Vice Chairman so long as helshe is a Trustee and sh811 rTrot be eIg1b￿ foi re election by Ihe Board as Chaimian and WI￿ Chairman if helshe has already servad for tsvo consecullvo three year temis of office as Chairman and Ch8imian unless a wTrod of twelve months ha8 expired since helsho was Chairman or Vbca Chaiman. The current Chaim18n appointed at the Board meeting hekl on 19 July 2017. p￿e/ Plymouth Young Men's Christian Association Trustees. Report Induction and trainlng of fmstees Prospective Trustees are given a detaI￿d intr(NJucb¢)n to YMCA Plwnoulh, the role, strL•Cture and goverrbance of the Association. The candidate is given guhlance on the responsibilities of a Trustse as defined in lh8 YMCA'S Board of Trustee5 handbcK>k. New and prospective Trustees are also encouraged lo attend South West Regional training events and other external ,￿lhOC, training events as available. New Trustees ar8 IXI opted until the k)Ik)Yriw AGM, when tw ￿rE Stand for electi(￿ to the full Board. Co opted Trustees hav8 full voting righls. tyJt th￿r appxxntmenl musl b8 ratified at the next AGM. Trainlng for the Board tskes rnany fomis. from th& pro*ison of regular reports arHJ literature, to external ￿sIt$ and courses. Try￿S can also obtain Tha￿lS on. experierKX by working with Ihe YMCA. Qryanisatlonal strncture The Bo8rd of Trustees, overall respw)nsibility is setliry the Strat￿J￿C direction of Assodalion and establishing policy. The day to day management of Ihe YMCA is de￿ated to the Ch￿f Executive Offi￿r. who Is responsible to the Board of Trustees. CommunicAtion is maintained by reguL9r Board. SLT, Leade￿hIp Team and Departmental meètings, with lull stafl meetings abo being hekl. YMCA Pl￿mouth cononualty deMor￿trate$ a proactive reswnse to svstainaknlity chall8nges. Wllh traditional funding sources continuing to be CUL ￿rnbined wrth Ir￿reased forc￿1 rises In expenditure due Éo govemmenl legislati￿, YMCA PlhThoutr staff are CL¥nmitted to generate incomè slr8ams that are more sustainable In the kng term. Ihus making tho Association less reliant on short tem) wnlracts and short temi grant fijnding. Grants are still very important to pursue. but slKwld be on the basis of enhancing the progrdmm8 rather than SUPPOTting non sustainabb ddivery. These are difficult times for many tharfties, but espeoally those worknng wth young people. YMCA Ptymoulh is determined to ensure that it safeguards its futu￿ by Grealro new areas of growth to ensure bnger tern) SLL8lainability. Thg Kltto Endowmant Fund YMCA Ptymouth has a linkgd charity - The Ktto Endovfflienl Fund, which is re￿stered under the same tharfty number as Ihe YMCA The Kitto End(P+vment Fu￿1 was created to hold the larKI and buildings al Honicknowle Lane, PlyTrouth as pennanenl enth)wment prop&ty. Plyrnouth YMCA is the trust88 of. and holds the 8ndowment propwty in trust for. Thè lfjtto Endowment Fund. Pagts 8 Plymouth Young Men's Christian Association Trustees, Report staff remuneratlon pollcy YMCA Plyynoulh has an agre8d 'Salary which was approved by ils Board of Truste8s. This policy stipulates an annual reviw of salaries which wll be ratrfted by tho Board and any dBcision will be based on th8 financial ￿￿titsn of the Ass¢x1a￿n at that tim8. The pollcy recognises that in fixirwJ salarfes the Discovery CO1￿ Is unique in tt belng an educational environment and its pay barnl $￿eM recognk88s, qualrftrcations, longth of experience and reSpOn￿bilty, including staff management. In detemining salaries for the remainder of the busin8ss there is a list of ebv&n criterio to be considered, thls Itst is not exhaustive. Outside of the annual re￿9W, YMCA p￿￿th.$ Leadethip Team Can lts)k at an indmdual salary al any tim& and make a deosv)n based on justtfi8d tyjsiness ujnsideratlons. R18k Managemont The Board ol Trustees is respons￿le for the organisation's sfftm8 of inlemal Tr)nlrol, including ￿sk man￿eMent. The Chief Executwa Officer is the aco)untable officer and is reswnsible for the managémènt of systems for internal Lx)ntrd 8fKI the unplementatrjn of pcAicies set by Ihe Board. The Finance Sub Committee of the Board monit￿$ and scwtinis8s the bLTrdget and accounting practice. YMCA Plymouth Business Pl￿ det&rmines th8 stratg3￿ dlrectlon of the organisalion. Operdlions and day to day management are d8temiin8d by financial T8gulabt>ns, and intemal controls are sup8Nisèd by the ChK9f ExecaJti¥e Officer. wth support from the Financ* Director. Throughout the year we have been s￿teMatIc￿lY evoMrwJ our rlsk management frameworf( lo thg guKJance of th& Charity Commlssirm "Charlues arml risk managament CC26' to ensure that Wg comprehensively caplure risk atxoss a rdThJe Df categories awNJ so ensure that our register Ls fully Updat￿., risks are registered and expk)red in dgtail at sub group level; th reLyJrded gdions needèd lo mitigate the Tisks. rewrted through lo the full Board at every full l)oard meeting. . Manage risks, costs and resourLES to deliver our strategy o Crealo a 'risk-registerf outrining key finan•￿al risks to the tyJsiness o Malnlain an up-t￿d01e business continuity ￿en o En8ure a thorough and robust budgetary prcKess is folknbEd arKJ approved by the Board of TA￿teeS o Ensure a suitable review prO￿sS by L8adership Team and finance sUt￿cOMmitt@8 . Develop new commercial an(1 Sustainab￿ swrces of Incyjne o Continu8 tho redevdownent at Honid(Th)wle vrilh Ihè n8W 6Xtemal Muga fa￿lIty and Intemal soft play araa o Through 8 Business DeVd(jF￿enI Group {Inci)rporating Leade￿hip Team, Trustees and select staff) lo Id￿ttfy possible new in￿JMe Streams and monRor progress o Ensure any new commerclal ventures arg suitabty reSc￿rCed and promoted through a planned approach to markating Infomation on fundralslng pra￿1¢8 The Trustees afft cornmitled lo lollow the Charity Commission CC20 guidance to make sur9 YMCA Plymouth rneets the statKl8rds in 1he code of Fundralsing Prac11￿ arKI complles the law. P&Je 9 Plymouth Young Men's Christian Association Trustees, Report Dls¢losure of information to audltor Each Trusl8è has taken steps that they ought to have taken as a Trustee in ordèr to make themselves aware of any relevant audit information and to establish that the Charity's auditor is aw8re of that information. The Trustees confirm Ihal there is no relevant information that they know of and of whi¢h they know the auditor is unaware. Trustee5 John Coates - Chair David Baylis OBE Dgan Bennett lappoinled 20 August 20211 Rev Lawren¢e Braschi (appointed 10 May 20211 Torn Buttriss Graeme Catling Arash Dinari Christopher Goodman (resigned 6 December 20211 Jo Greenwood Helen Hart Mary Hibbert (resigned 6 Dacernber 20211 Victor Hibbert (appointed 1 April 20221 Raymond Lavis (resigned 6 December 20211 Hslen Meneilly Jeremy Sleet Annette Slone Small companies provlslon statem&nt This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report wa5 approved by th8 Trustees of the charity on behalf by.. 0511212022 and signed on tts Victor Hibbert Trustee Page 10 Plymouth Young Men's Christian Association statement of Trustees, Responsibilities The Trustees (who are also the directors of Plymouth Young Men's Christian Association for the purposes of company lawl are responsible for preparing the Trustees, report and the financial stalemenls in accordance with the United Kingdom Accounting Standards (United Kingdom Generally A¢¢opled Accounting Practice) an(J applicable law and regulations. Company law requires the Trustees lo prepare financial slalernents for each financial year. Under company law the Trustees musl llol approve the financial statements unless they are satisfied that they give a true and lair view of the state of affairs of the ¢haritable company and of ils incoming resources and application of resources, including ils income and expendilure, for that period. In preparing these financial slalements, the Trustees are required lo.. select suitable accoLJnb'ng policies and apply Ihern consistently.. obseNe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent.. slat8 whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in business. The Trustees are rosponsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclos& with reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for th& prevention and detection Df fraud and other irregularities. Approved by the Trustees of the charity on 051121.2922 and signed on its behaff by.. Victor Hibbert Trustee P8ge11 Plymouth Young Men's Christian Association Independent Auditorfs Report to the Members of Plymouth Young Men's Christian Association Oplnlon We have audited the financaal statements of Y(NJng Men's Christian Assodation (the 'charitll for th8 year e[￿ed 31 March 2022. whith wmprise the Ststement of Finanaal Activtties, Balanc8 Sheet. Slalemenl of Cash Fk)ws. and Notes lo lh8 F￿an￿al Statements. including a summary of signifie4nt accounting poFKies. The financial reporting framework that has been applied in their prapardtion is United Klngdom Accounting Standards. comprisirvJ Charities SORP - FRS 102 'The Financial Reporting Standard applicable In the UK and Rgpublic ol IrelaThY and applic8ble law (United King8nl and approwiate lo provkle a basis for our opinlon. The rfsk of [￿t detedng a malerrdl misslal8ment resulting from fraud ts hpJh8r than on8 resulting from error, as fraud may Involve colluslon. forgery. intthional omlssions. mrsrepresentations, ()r the overrtde of in19rnal control. Obtsin an understanding of Intemal controls rdevant to the audit in or(ler lo design audh procedures that are appropriate ￿ Ihg oircumstances. but not for the purrx)se of expressing an opinM)n on the effectiveness of the charl￿S intemal contrrA. PwJe15 Plymouth Young Men's Christian Association Independent Auditorfs Report to the Members of Plymouth Young Men's Christian Association . Evaluate th& approprialeness of acwnting rK)kies used and the reasonableness of a￿Unting eslimales and related disclosures made by the trustees. C(Trnclude on the 8pproprialeness of the trustee5 use of going con￿rn ba&s of accoundng and. based on the audit evidence obtairhed, vthether 8 malertal uncertainfy e￿S{S ￿lat￿ to th¢ abifify lo continuo as a going wncem. If we th8n ccfftdudo that a maten'al uncertainty exists. we are required lo draw attenti(￿ in ¢)ur audllorfs report to Ihe re￿ted disdosures In the financial statements or. rf such di8dosures are Inadequate. to m(xlrfy our (￿r COr￿U511)n$ are based on a￿11 evidenc obtained up to the date of wr audilorfs re￿￿ However. fulure events or (x)nditions may cau88 the charity to cease lo cor)linue as a golng concem. Evaluats the overall presentation. structure and content of the finandal st*ments, induding Ihe dlsclosures. and whether the financial Stat8￿Ents represent the underlwng transactions and events In a manner that achieves fair presentallon. We ¢omrnuni¢ato with those charged vrilh governance rwing. amount other matters. the plannad scop8 and liming of the a¥Jdit and significanl audit findlngs. I￿lUdI￿j any signif￿ant defrienci?s in intemal contro5 that we identify during our aud Use of our report This report is made sO￿ty to the dwllable coMpan￿S TfU5toes. as a body. in a￿rdance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work h8s been und8rtak8n so that we might stale to the charity's twslees matter5 we are required to state to Ihem in an a￿dI10￿8 report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charltable company and its trustsès as a body, for our audit work, for this report. or for the opinions w8 have forn￿d. Duncan Leslie (Senior Stalutory Auditor) For and on behalf of PKF Francis Clark . Stabjtory Auditor North Quay House Sutton HartrA)ur PLYMOUTH Devon PL4 ORA 0711212022 Page 16 Plymouth Young Men's Christian Association Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlct funds Restrlctgd Endowmont funds nds Total 2022 Not Income and Endowments fmm: Don8tions and legaues Ch&itable aclivities Investment income Other income 493.398 1.145,531 224 493,398 1,145,531 224 4,000 Total income 1.643,153 1,643,153 Expendlture on: Raising funds Charitabl8 a¢llvlties 121,436} 1.468.278 121,436} 1,560,848 33,538 59.032 Total expenditure N61 Income l (expenditure) Transfers ￿tw8en funds 1.489.714 33.538 59.032 1.582.284 153.439 547.046) (33.538) (59.032} 547,046 60.869 Net movement In tunds 1393.607) 133.5381 488.014 60,869 Recondllatlon of lunds Total furKls bmught forward Total funds canled forward 23 156,082 549.689 129.433 2.033.872 2,521,886 1,748,357 1,809,226 162,971 The notès pages 2110 37 fixm ￿ iniegral part olthese finandal stat8m8nts. Pag8 17 Plymouth Young Men's Christian Association Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Tolal Recognised Gains and Losses) Unrestrlctod nds Restrfctad Endowment funds fvn(ts Total 2021 Income and Endowmenls from: t)onalions and 1￿cleS Charftsble actlvfties other trading activitie5 Investment Income 540,768 876.364 936 209 545.764 876,364 936 209 Trital income 1,418,2TI 1,423,273 Expandlture on: Raislng funds Charitable aclivitlos {10.727) 1.222.939 1711 4.572 (10,7981 1,286,543 59,032 Total expendtture Nat incomo l (fjxpenditura) Net Thovemenl in funds 1,233.666 4,643} 59.032 1,297.341 184.611 353 59,032 125,932 184.611 (59,032} 125.932 Reconcillatlon of funds Total funds brcHJghl fO￿ard 340.693 129.786 2,092.904 2.033,872 1,622,425 Total funds carried forward 23 156,082 129,433 1.748,357 Al of tho charitys a¢tsvib8s delive frrAn o)ntinulng operaticns durirrfJ the above hvo periods. The lunds breakdown for 2021 arKI 2022 is in r¥Jte 23. Tha note8 on pages 21 to 37 lomi an intwyal part of these fJnaThxal statements. Pag6 18 Plymouth Young Men's Christian Association (Registration number: 03426094) Balance Sheet as at 31 March 2022 2022 2021 Not¢ Fixed assets Tangible assets 16 2,892.685 2,096.468 Currant as$¢ts Stocks Debtors Cash at bank and in hand 17 18 750 73,838 8,347 840 139,432 539,955 82,935 680.227 Creditors: Amounts falling due withln one year Net current Iliabllltie$llassets Total assets less currènt Ilabilities 19 710,997 511,608 628,0621 168,619 2.264,623 2,265,087 Creditor5'. Amounts falllng due after more than one year 20 Net assets 455,397 516,7301 1,748,357 1,809.226 Funds of the charity.. Endowmgnt funds 2,521,886 2,033,872 Restricted income ftrnds Reslricled funds 23 1162,9711 1129.4331 Unr&strl¢ted income funds Unrestricted funds 549,689 156,082 Total funds 23 1,809,226 1,748,357 The financial slaternenls on pages 17 10 37 were approved by the Trustees, and aulhorised for issue on ..Q511212022 and signed on their behalf by.. Victor Hibbert Trustee The not85 on pages 21 10 37 form an integral part of th858 financial staletnents. Page 19 Plymouth Young Men's Christian Association statement of Cash Flows for the Year Ended 31 March 2022 2022 2021 Note Cash flows fr¢m operating ac*ivitle$ Ngt inc(￿8 60,869 125.932 Adjustrnents to flows from nonwh Items Depreciation Investment in￿rne 111,192 224 100.275 209 171.837 225.998 Worklng capltal adjustments De￿ease Sn stocks De(reaselllncreasel In debtors Incr8ase in (xedilors Decrease in accruals deferred irKorne 17 18 19 19 38 {100,3031 146.720 65.594 153,171 215,295 Net cash flows from operating actNit Cash flows from Investlng a¢tfvltles Interest re¢￿Vable and slTMilar incom8 Purcha* of tangitAe assèts Nel cash flows from investlng 175.397 272,453 224 907,409 16 18.846 907.185 18,637 Cash flows from flnanclng a¢tlvltks RepayThenl of loans and borrowings Repaymerrt of capital elewnenl of finan(g leases and HP ntracts 19 (1.832) 220,569 21 202.012 17.250 Net cash llows from flnanryng acbvides Net (d8cr6aseylncreas6 In cash 8nd eAsh equfvalents Cash and cash equivalents at 1 N)ril Gash and txsh equivalgnts at 31 March 21yJ.180 203,319 1531.6081 539.955 457,135 82,820 539.9 l of tho cash flows are derived from conlinufftg operailons during the thve is￿) periods. The notes PWJ68 21 to 37 fonn 8n ￿l￿al part olthese siatemenis. Page 20 Plymouth Young Men's Christlan Association Notes to the Financial Statements for the Year Ended 31 March 2022 1 Charity status The charity Is limited by guarantee. in¢>xporated n England arKI Wal8s, and consequgndy doès not have shar8 Ca$￿tal. Each of the Trustees is liabfe to o)nlrltyJte an amount not 8XC89ding £1 towarés the assets of the Gharity In th8 8verit of liquhla￿O￿. The principal place of bu￿ne$S is.. Honickn0￿9 Lanè Ptymouth Devon PL5 3NG 2 A¢¢ountlng pollclès Summary of slgntficant accountlng pollel•s and key a¢countlng estlmato$ The prinrapal accounting policies applI￿j in ￿ preparation of these financial stalemènts are sel out below. Thesa poltcies have been consistenljy to all the years presented. unless otherwise statad. Statement of compllance The financial slalem8nls have teen prepared In accordance with AccwnUNJ and Reporting by Charities.. Statement of Recommended Practice appl￿ble lo charilies pr6paring their 8cc*MJnts in accordan￿ wtth the Finandal Rep￿Ing Standard a￿lC&bye in the UK and Republic of Ire￿r second edition - o￿ober 2019. Ba$ls of proparatlon Plymouth Young Men's Chrislran As￿la￿On meets the defwNtion of a public t*nefit entity under FRS 102. Assets and liablllties are inilkally recognised al hisloriozl cost or transaction valuè unl8S8 otherwise staled in the relevant accounting p￿iCY rn)tes. Golng concern sin￿ the year end the charity has 8th￿Ved ils five year stralegic plan, with much imtroved facilities and public areas. It is the opinM)n of the Trustees that these improvements will ￿a￿ to increased footfall and revenue. The charity has reduced its lia￿like$ by pawr¥J off loans lo the value of £268k and the reduction in loan finance has al80 POS5trvdy impacted post yaar-end cashflow. The Trustee8 are (x)nfKlent that the bank and funders ￿111 rnntinue to support tho (*8rity during these challenging times and that the new opwrtunlties they ha￿ l(lenttFied for additlonal revenue Streams VAII ￿ntInue to come lo fvuition. TTUSteo8 beheve that there is a good proSp￿t of su¢c8&8 and C￿nSIder tl appropriate to ￿ntInue lo conslder the tharity as a golng cx)ncem. arKJ the aC￿unIS havè been prepared on this basls. Page 21 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 Judgements and key sour￿5 of estlnjatlon uncertalnty The preparation of tho financial slatements requires managgment to make judgements, 68tlm819s and assumptlons that affect tho amounts r&FK)rted for assets and liatrmltbos as at the balance sheet date and the amounts reported for revenues and eX￿nSeS during the year. However, the nattjre of eslimallon means that actual Lxrtcornes coukl drffer fr¢Jn those estlmates. Th8 folk)wlng Judgements (apart trom those invomng estimat￿) have had the most svJnificant 8ffect on amounts recognised in the flnancial statements. The dlscount rate applied to tho defined b8nefft latAIty prO￿S￿n Is based ￿ an eS￿mated rate uivalent to market rates of interesL Incomo and èndowmonts All income Is ￿COgniSed once the chartty has entitlement to Ihe income. It is probable that the Income WUI be received and the amount of the in¢>)me receNabJe can bo measured rgl¢abty. Donatlons and legaeles Donations and legacies are rectyJniserJ when the chartty has ￿en notthwj in writing of both tho amounl and settlement date. In the event that a donthn or ￿gacY Is sutr4ect to conditions that require a level of pertormanlx by the charity before the charity i8 enttlled to the funds. the income is def6rred and not reo)gnised until either ItrK>se c¢yiditv)ns are fulty met, or the fulfllment of Ij￿Se conditi￿S is wholly within the control of the tharity arKI it is pr(4)ab￿ that th&se conditions will be ftjlfilled in the reporting pellod. Grants recowable Grants are recognl8ed when Ihe charity has an enliU&menl to th6 fvnds and any ￿[￿lItIOnS linktd to the grants hav8 been met. Where performance condibons are attaC*￿d to the grant and Are yet to b6 mel, the income L8 recognised as a laI￿lity arKI incknded the balance sheet as deferred in(y)me to be released. Deferred Income Deferred income reprgserts amounts r￿ed for p￿d$ and 18 released to incoming rosourc8s In lh& perK>d forwhich, it has been recsNed. Suth In￿Me Is onty deferred ¥th8n'. - The donor spednes that the gyont ordonation must onty te used in fijture &fxountlng p8fM)ds,' LY The donor has Imposed ￿ThI1110n5 *thich m￿t be m8t beforo the chaiity has uncc4NJilonal tidemenl. Glfts In kind Gifts in kind (lonaled for distsibulKJn are induded al valuati)n aThl ￿e￿dn1$￿ as inc¢)me W￿rt they a distributsd to the projects. Glfts donated for res8￿ are indudèd as In￿Me when they are sold. Donated facilities are included al the value to the rknrity thl)8r8 this can be quantifie(J and a third party Is b8arirvJ the cost. No amounts aro IndUd￿ in the financial statsments for 8eNic8s donated by volunteers. Py22 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 Expendlture l expenditure is rgcognised onckn there is a legal or constructiye oblgation to that exp8ndilure, il is probab]e seltlam8nt 18 required and the amount can be measured reliably. All costs are alh)caled lo the app1.1￿ble expenditur8 h8ading that ayJregat8 similar costs to that category. Where costs cannot bo directly altribu18d to partlcular headings théy have been allocated on a basis conslslenl with the use of resources. ￿ernance costs incthle those incurred in th8 wvemance of the Charity and its assets and arg primarfly assc(iated wllh strategic, constituuonal and stattrtory requlrements. RaiTslng lunds These are costs incurred in attractlng voluntary irM>)me and those incurred In trading advities that raise fijnds. Charltablg aclfvltles Charllable expenditur8 comprlses thr)se costs in¢JJrred by Ihe charity in the d&livery of ils actlvities and Services lor its beneficiaries. 11 ineludes knlh costs Uiat can alk)rat8d dire¢lty to su¢* activities arbd those costs of an indirect nature r￿essary to suptx)rt them. Governance ry>sts These include the costs attributsble to Ihe charitys Complian￿ vith ￿nStitU110nal and statutory requirements. induding audit, strategic management Twsl8e8'5 meetings 8ThJ reimbur8ed expenses. Taxatlon The charlty is rA￿￿idered to pass Ihe tests set out In Paragraph 1 Schedul8 6 of the Flnance Act 2010 and therefore ft meets th8 definition of a Cttaritab￿ wmpany for UK corpordtson tax purposes. Aco)rdingty, the tharity is potenllalty exempt fr(4n taxalon In respect of income or capital gains reCo￿9d wthin eategories covered by Chapter 3 Part 11 of the Corpordtion Tax Act 2010 or SeclK)n 256 of the Taxation of Chargeable Gains Act 1992. to tho tsxtent that sud) Inujme or gains aro applied exclusively to charitable purFYOSOS. Tanglble fixed assats Indiwdual fixed assets are inthally rec£Kded al cost. less any subsequent 8ccumulaled dapreciation and subsequent accumulated Impalm￿nI kns585. DeprecSatlon and afflortlsation Depreciation is prowded ￿ tangib￿ fixed assets so as to wffte off Ihe cost or valuatKJn, loss any eslimaled resldual vabje, over expected usefvl e￿￿O￿niC life follows: Asset class Freehokj pyoperty Long- term leasthokl propety olor vehicles Flxtures fittings Computer ￿UIpMent Doweclatlon method and Tat• 10 to 50 years over the p￿d ofthe lease 5 years 2 10 lO￿ar$ 2 to 5 years Pagg 23 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 st￿k Stock is valued al the k)wer of cost and estimated selling pri(x less costs lo complete and sell, after due regard for obsolet6 and slow MO￿n9 stocks. Cost is detemiined using the flrsl-in, firs14)ut (FIFO). Fund $tru¢ture Unrestricted Income furKls are general ftJn(ts that are available for use at the dSscretion of the Trustees, in furtherance of the I￿lectIVeS of the chanty. Reslricled intt)me fijnds are those d￿ated for use in a partiwlar area or for specific purposas, the use of ￿lch is reslrthd to that area or purpose. Th8 Endowment Fund represents the net bc4)k value of the Kiito Centre, the Chartvs main operational premises. Hlre purchasa and flnance leases Assets obtained under hire purchase contracts and finarrE are capitallsed as taThJiblè fixed assels. Assets acqulred by financo leases are depreoxatsd over the shorter of the lease lem and thelr usefijl lives. Assets acquired by hire purcha50 are depreciated over their expectod lives. Finan< 18ases are Ihose where subslantialty all of the b8nefils aThJ risks of ownership are assumm8d by the charity. Obligatvjns under such agreements are IndUd￿ in creditors. net ol the finance charge allocated to fubjre periods. Th8 finan￿ ekmenl of ￿ rental payment ra charged to the Skatemenl of Flnancial Acbvtties (incorporating Income arKI Exwdtture a(xount) so as to prc*Juce a constant periodic rate of chgrge on the nel Obloati￿ oulstaThliry in eath periLxJ. Pènslons and othor post r•tlremont obllgallons The charty paticipated in a multi employer defined benefit pension scherne for employees of YMCA'S in En9land. Sc￿and and Waley. whith Was dosed to naw membets and aecrua15 on 30 April 21x17. Due to insufficient infomalion. the plan's actuary has advised that rt is not possible lo sep8Talely indentfy the assots and liabililies r*brwJ to YMCA Plymwth. As d&scr4bed in note 27, YMCA Ptym￿lh has a Contractural obligat￿n to make p8nsion deflcit payments of £27,675 pa over the perKKf to April 2029, a(xordingly this is shown as a Ilabllity in these account8. In additlon, YMCA Plymouth i% required to contribute £6,186 pa to the operating gxpenses of the PensDn Plan and these costs are charged to the Statemont of Finan(aal Activities (Incorporating Income ond Expenditure a(£ount) as madg. Flnanclal Instruments Re¢ognltlon and measurement The charity only has financial assets and finan￿al liabilthes of a kind th81 qualify as basic financial instruments. Ba&c financial instruments are initauy reLy)gniS￿ at transaction vallse arHJ subsequently measured al their settlement value wih the exc8pti(In of bank k)ans whith are subsequenuy measu￿￿ at amortised cost using the effective interèst method. PwJe 24 Plymouth Young Men's Christian Association Noles lo the Financial Statements for the Year Ended 31 March 2022 3 Incomo from donatlons and l•ga¢ieB Unr•$trfcted funds Total funds 2022 Total funds 2021 Donations and lega¢ies', Donations from indivKluals Glft ald reclaimed Grants, indudlng capltal grants- Olher grants Covid assistance grants Coronavlrus Job Relent￿n Schemo 16.951 3.125 16,951 3.125 15,367 731 342.049 41,858 89.415 342,049 41.858 89,415 40,917 239.177 249,572 545.764 493.398 493,398 4 Income from charitable actl¥ltl8s Unrgstrl¢ted funds Total funds 2022 Total funds 2021 Grant income Fadlities SrK)rts Courses Rentsl income Calerlng Inc4)me Memberships Othar income 33.104 265,7 77,688 644,837 69,614 3.637 15,292 35,563 1.145,531 33,104 265,796 77,688 644.837 69,614 3,637 15,292 35,563 1.145,531 18.261 86,781 21.047 576.283 156,890 1.137 s.￿8 10.057 876,364 5 Income from other tradlng •divitle5 Totsl fund5 2022 Totsl fvnds 2021 Trading income; Shop incomg from sala of donated and services 936 938 6 Investment Income Unre5trlcted funds Total Ivnds 2022 Total fund$ 2021 Interest receivable and smllar income; Interest recehable on bank detK)sits 224 224 209 P•Je 25 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 7 Othèrlncomo Unrestricted nds Total 2022 Galns on sak of tangible fixed assets for thariiVs ohvn uso 4,000 8 Expend6ture on ralsing funds a) Costs of raising funds Unre5tr1¢ted fund$ Total 2022 Total 2021 Marketing and put￿1¢1￿ Allocated support costs Staff Costs 14.898 738 5,800 21,436 14.898 738 5,800 4.587 411 5,800 21,436 10,798 9 Expenditure on charltable a¢tlvlties ivty undortakét) directly pthi￿ty support costs Total 2022 Total 2021 Staff costs Depreciat'on Premises costs Leas8 ¢0sts Subscription5 Telephona, print and stat Irr8cA)v&rable VAT Programme costs Banklng costs Pension defiat costs Oiher o)sts Governance costs 982.358 111.192 119.952 s4.￿5 25.853 22.043 .610 71.373 41.614 $3.7 19.746 20,567 6.935 989,293 111.192 119,952 54,905 25.853 22.043 30.610 71,373 41,614 53.700 19.746 20.567 865.865 100.275 84,490 27.738 20,675 11.491 29,813 33,351 22,986 24,314 9.178 56,367 1.553,913 6.935 1.560,848 1.286,543 Page 26 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 £1,468,278 (2021.. £1.222.939} of the above expenditure was 8ttributabb trj unrestrlcted funds, £33,￿8 {2021: £4,572) attributabb to reslrthd funds and £59.03212021: £59,032) attflbutable lo endowment furvjs. Indudgd in the expew)diture analysed above. Ihere are goveman¢% costs of £20,567 {2021: £56,367} which relate to charitable activites. See rnte 10 for furlh8r deta1￿. 10 Analysls of 90￿ManC￿ and 8UPPOrt costs Governance costs Unrestrl¢ted funds Total 2022 Total 2021 Audlt fges Audit of th8 financial statements Other fees paid to audltors Legal fees 8.000 7.250 1,050 48.067 12.567 12.567 20.567 20.567 56.367 11 Net Incomlng resources Net Incoming resources Indude.. 2022 2021 Audit fees other non-audil s8rwc*s Depreciation of fixed assets 8.000 7,250 1,D50 100.275 111.192 12 Truslees. remuneration and 9x￿n8• No trustees, nor any ￿rSOnS rxjnnected viilh them. have received any remuneratiori frorn th8 cha￿ty durfng the year. No trust888 have rèceived any reimbursed expensBs or any other benefits from th8 chadty durfng the year. 13 Stafl Costs The aggregate payroll LX)sts were as folk)ws: Page 27 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 2022 2021 Stsff costs durlng the year were: Wages and salari88 Soclal security costs Pension Costs RedundarKy costs Other staff costs 869,630 65,655 19,303 766,113 57,919 17,959 9.(X)O 20,674 40.505 995.093 871,665 The monthty average number ol persons (induding senK)r management team) employed by the charity during the year expressed as bJll time equNalewts was as folknvs.. 2021 No 42 2022 No Full lime empbyees Session Stsff 50 44 No receNed ￿0￿jments (é rn(￿e than £&J.(M)O dumg Ihe year. The total em￿oyee banefits of the key managem￿( personnel of the tharity were £126,950 {2021- £138,703}. 14 Audltors. remuneratlon 2022 2021 A￿lit of the financial stat8rnents 8.000 7,250 Other foes to audltors l other r￿n-audit servlc8S 1.050 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 15 Taxation The charfty18 a registered d)arity and therefore exemptfrom tax8ti0n. 16 Tanglbl• fixed assets Land and Furnlture and bulldlngs equlpment Motor vehlcle Computor aqulpmgnt Tolal Cost At 1 Aprll 2D21 Additions 2,929,758 574.376 345.743 331.784 67.800 100,746 3,444.047 1,249 907,409 At 31 2022 3.504.134 677,527 67.800 101.995 4,351,456 Dwgciatlon At 1 Aprfl 2021 Charge for the 911,205 279.214 67.800 89.360 1,347,579 71,043 34,599 111,192 At 31 MaTch 2022 982,248 313,813 67.8 94.910 1.458,771 Net book valua At 31 March 2022 2.521.886 363,714 7,0&5 2,892,685 At 31 March 2021 2.018,553 66.529 11.386 2.096,468 Included wthin net LN)ok value of land and l￿1k11￿￿S above is £2,521,86612021 - ￿,018,042) in rgSPgCt of froeh¢Ad land arml buildiThJs and £NII {2021- £511) In resp8Ct of leasehold property. 17 Stock 2022 2021 Stocks 750 840 18 Debtors 2022 2021 Trad8 debtors Prepayments atKI accrued incA)m8 Other debtors 53,355 18.334 2.149 74.066 31.712 33,654 73.838 139.432 P￿9 29 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 19 Creditors: amounts falllnq dug within One ￿aT 2022 2021 Bank overdrafts Bank toans Tr8do creditors Ofher loans Hire purchase and ffinarKe leases Other taxation and socad securfty Other creditors Pells￿n schemè creditor Accruals and deferred income 99,089 133,860 57,485 227,821 56.128 16.434 7.349 26,547 86,264 59,868 35.092 56,653 15,685 15,813 9,819 17.099 301,579 710,997 2022 511,608 2021 Doferred income al 1 Axil 2021 Resources deferred in the Amounts released from premous Deferred income at y8ar end 293,504 75.967 293,504 111,942 293,504 111.942 75.967 293,504 Credllors due vAthin one ￿ar Indudes thè fdlthvir*J liablllles, on which sacurity has been gfven by th& charity.. 2022 2021 HS8C Bank loan 133,860 59,868 HSBC Bank plc have a ftrst legal charga ¢Jaled 10 Augusl 2017 over freehokl propety known as YMC& Honi(knoYAe Lane. Plynouth, PL5 3NG and on freehold property kMwn as land the north east side of Honid(rH)wl8 Lane. HOnid(nry￿O. HSBC Bank pic also have a debenture including a fixed chaffJe over all present fr&ehO￿ and leasehold ptoperty. a first charge over b￿k and other debtors, thalells. gocthll and urKalled capltal, both present and future and a first Iloati￿j charge over all assets and undertaknngs both presgnl and future. datèd 10 August 2017. Plymouth Young Men's Christian Associatlon Notes to the Financial Statements for the Year Ended 31 March 2022 Other loans Induded in olh8r 108r￿ are tho followng unsewred amcAJnts.' Resonance - due wrthin one year - £43.524. due after LTh year - £70.173. all repayable wlthln five y8ars, Interest charged at 7.5% per annum. Po8tcodp Innovatton TnJst- due within (Th year - £19.820, after on8 year- £80.556. all rapayable wtthin fiva years, Interest charged at 3% pef annum. Social Investment- due wllhln one yEar- £1PA.477. interest charged at Th p8r annum. 20 Credltors: amounts falling due after one year 2022 2021 Bank108ns s9cured (Th)te 19) Other loans Hire purchase and finance leases Other creditors 21,511 376.210 5,063 113.946 150.729 166.632 138.036 455.397 516,730 Induded In thè creditoTS aro the fdlowng aMo￿ts dug after more than five y8ars: 2022 2021 After mor8 than ffive years by instalments 33,452 52.241 Pag8 31 Plyrnouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 21 Obllgatlons undar operating lea The total vahJ8 of future minlmum ￿ase payments was as fdlows: 2022 2021 ithln one year In iwa lo five years In over five years 57,295 133,678 33,457 17,159 6,1TT 224.430 23,336 Less finance tharges 81kncated to luknre perv)ds 1,670 222.760 2,588 20,748 The financ8 leases relat8 to gym equipment and a b(￿￿r recognised wilhin the fixtures and fittings and hrome book8 reoognised as cornputw gquiwient all of which are includad in ffixed assats. The fflnan¢e leases are secured by Ihe ￿S$0￿S tile to the leased awts which have a canyng va￿8 of £218,845 12020: £19,023). The TTUStees CODSKJer that the Can￿ng amounts of the obligatlons under the flnance ￿aSe$ are appropriate to thelr fair values. Assets held undor financg leases Operatlng lease commltments Total future mk)imum leas8 payThents nolK*n￿1ab1e operating leases 8re as follows: 2022 2021 Other Wtthln one year Betwe8n one and five 12.794 42,688 55,482 21,545 17.311 38,856 22 Commitmonts Capltal commltmonts The lotsl amount o)ntra(knJ for but ￿t proyided In ts financlal statements was £Nil {2021 £84,825}. Plymouth Young Men's Christlan Associatlon Notes to the Financial Statements for the Year Ended 31 March 2022 Penslon commitments Commitments due wtthin one year provkled for in the accounts amounted to £26,M7 (2021.. £17,099). Amounts due wthin on8 lo fwe years amounted lo £95,797 (2021.. £61,705). Amounts due Bfter five years amounted lo £42,239 (2021: £52,241). Commthnts not provided for in the accounts amounlgd to £Nil12021 - £Nil). Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 23 Funds Balanc• at Balan¢0 at 31 March 2022 Incomlng Resources sources expanded Transfors 2021 Unrestrlcted funds General General unreslAclod fvnd (156.082) 1,643.153 11,489.7141 {$47,046) {549,689} Restricled fvnds Restricted funds Pénsion fund 1.613 131,046 1,613 164,584 33,538 Total restrfcted ￿ndS (129.433) 133,538) 1162,9711 Endowment funds Other funds EndowTnenl funds 2,033,872 1.582,284 1.748,357 1.643,153 L Balance at 1 Incomlng Aprfl 2020 resource 59,032 547.046 2,521,886 Totsl fvnds 1,809,226 Resources expendèd Balanca at 31 March 2021 Unrestrl¢ted fund$ Goneral General unreslrided frjnd (340.693) 1,418.zri (1.233,666} 1156,0821 Rasblcted Restsicted funds Pension fijnd (3.383) (1.260 1,613 131,046 129,786 Total restricted funds 1129.786) 4,996 {4,643} 1129.433) Endowmont funds Other funds Endowment fvTrJs 2.092,904 $9.032 2,033,872 Total funds 1,622,425 1.423,273 1,297,341 1,748,357 RestrlGted fund8 In prior years the charfty re￿iVed community grdllt fvnding of £4.￿ from Petro¢ towards the costs of salaries and various other costs in connection wtth Discovery College. Expendlture of £3,383 has prevtously been inCU￿d and the balance of £1,613 TMII either be used in fvknre years or repald to Petw. Page 34 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 Endovmi•nt funds The lfjtto Endowment fund repros8nts the net book valu& of Ihe Krtto C&ntre, the Charivs maln operational premises. The lQtto En¢Jovhnent frjnd is a linkod charity registered und8r the same charity numbgr as Plymouth YMCA It was c%eated to hokl the land and bull dings al Honicknowle Lane, Plymouth. Plymoulh YMCA Is the Trustee of, and hokls the p￿perty In trust for. tha Kltto Endowment Fund. 24 Analys18 of nèt assgts betrween funds Defined Total funds benfjfit at31 pension March Ilablllty 2022 Goneral Unrestricted Restricted Endowment funds fundy funds T?ngible fixed assets Current assets Current liabilitias Crgditors over 1 year Total n8t assets 370.799 81,322 (684,449) 317,361 2,521,886 2,892,685 82,935 1710,9971 455,397 164.584 2.521,886 1,809,226 1,613 (26,5481 138,036 549.689 1,613 Dofingd Total funds benofit at31 pension March liablllty 2021 General Unrestricted Restrlcted Endowmenl funds funds funds Tangible fixed assets Current assets Curr8nt liabilitiés CrodllorE over 1 year 62.5 678,614 1494.509) 402.783) 156.082 2,033,872 2,096.468 680,227 1511,6081 1516,730 131,046 2.033,872 ￿ 1,748,357 1.613 (17.099) 113.947 Tolal net assets 1.813 25 knalysls of net debt At 1 April 2021 Flnancing cash flows At 31 Maich 2022 Cash at bank and ￿ hand Bank overdraft 539,955 1531,6081 99,089 8.347 99,089 {90,7421 1361,681) 1150.729) 222,760 539.955 (116.521) (397,721) 20.748 {630.6971 {245.1601 246.992 202.012 Debt du8 within on8 year Debt due after more than one year Finance l&asgs and hire purchase conlracts Net debt 830 877 825,912 Page 35 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 At 1 April 2020 Financing cash flows At 31 March 2021 Cash al bank and in hand Debt due within one year Debt due after mrKe than one year Finance loases and hw purtha5e o)ntraGts 82,820 {67,6481 {211.515) 37,998) 457.135 (48.8731 (186.206) 17,250 539,955 1116.521} (397.T21) 20,748 N81 fvnds 234,341 239,306 4,965 26 Related party transactions During Ihe year the tharity made the folknMng related party transaclions: Tam Lavls- CEO A preliminary archilectLEral as$8ssrnent was conducted on a pro bom basis by a ratlred archllect who Is relatsd to Tom. No amounts were oustanding at the balance sheet datg12021.. £NIII. Al the balan￿ sheet dale the amount due lo1frc￿ Tom Lavis - CEO was £Nil {2021 - £NII}. ash Dlnarl - Trustse sh is a soliutor al Wolferstans LLP ￿ Pwouth. during the Far ihe charity paij Wollerstsns £1.764 for services in connection vAlh Ihe licen(* 81 the ￿tt0 Centre. At the balance sheet date th8 arnounl du8 to Wolfer5tsns was £5 {2021'. £Nill. At the balance sheet date the amount due tolfrom Arash Dlnari - Trustee was £Nil12021- £NII). Jeremy Sle•t- Trustse During the year the charity has pakl a retain8r of £435 per monlh. on favourable lemis, to 'No Accidenv a business owned by Jeremy in (x)nne¢tlon vrith covering h8alth and safety seNces. Al the year 8nd the balance due tolfrom No Accldent was £Nil12021'. £Nil). At the balance sheet date the amount due tolfrom Jeremy Sleet - Trustse was £Nil (2021- £Nil). Holen Mgnollly - Trustee Helen has an intarest in R¢)botDugh Rotary MDRT Fotsn(lation. During the year 8 ltharitable donation of £702 ￿as received from the foundalk)n {2021: £1.000). At the balan(￿ sheet date the aMI￿nI due tolfrom Hekn Menwlty- Truslae was £Nil (2021- £Nill. 36 Plymouth Young Men's Christian Association Notes to the Financial Statements for the Year Ended 31 March 2022 27 Penslon commltmènts Plymouth YMCA particlpated n a ￿ntributOry p￿lon plan providing defin8d benefits based on final pensionable pay for empknyees of YMCAS in England, Scotland and Wales. The assets of the YMCA Pension Plan are held seperalely from Ihose of p￿o￿l￿ YMCA and al year etKJ th8s8 werg invested In the Merc8r De-risking Solution. 40% InatchiThJ p)rtf￿10 and 60% in th8 growth i)ortfolio and Sthroder {propety untts onty). The most recent ￿Hnp￿ted threg yBar valualwjn was as at 1 May 2020. The assumptions u58d whlch have tho most signinrfant effect on the results of the valuation are those relating lo the assumod rates of retum on assets ￿ld ￿fore and after reljremenl of 2.59% and 1.090k respectively. the increase In penslon5 in payment of 2.99% (for RPI capped al 5% p.a.>, and the avorage lifè eXp￿tanCY from normal relriremont age lot 65) lor a ujrrent rnale rthsionw of 22.2 years, female 24.1 years. and 24.0 years for a male pensioner, female 26.Ll ￿ar$, retiriTrJ in 20 lime. The resum of the vafualion showed that the actuarial value of the assets was £146.1 m. This represented 79% of the b8neffits that had accrued to m8mbers. The Pension H8n was ¢k)sed lo new wnembers ond future Servi￿ accrual with effect from 30 April 2007. Wrth the reThJval of the salary linkage for beneffts all empknyed deferred memb￿3 became deferrgd m8mb8rs as frIMn 1 May 2011. The valualk)n prepared as at 1 May 2020 skjwed that the YMCA Pension Plan had a defiut of £38.9m. Plyrnouth YMCA has boan a(Msed Ihat it ￿11 need io make monlhty contributions of £1,486 fr(Hn 1 May 2020 and inueasirvJ by 3% al ea¢h May thereafter. Thls am￿jnI based on thg current a¢knarial assumptions las oulh.ned above) and may in the future as a result of the actual perf0m￿nCe of tho pensk￿ P￿. The cuwonl recovery perlod is 9 years commenclng 1 May 2020. Page 37