Company registration number: 03426094 Charity registration number: 1066919 YMCA Plymouth Ltd formerly known as Plymouth Young Men's Christian Association (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025 WESTCOTTS HARTERED ACCOUNTANT USINESS ADVISER
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Reference and Administrative Details Trustees' Report Independent Auditors' Report Statement of Financial Activities Statement of Financial Position Statement of Cash Flows Notes to the Financial Statements 1 to 2 3 to 16 17 to 20 21 22 23 24 to 42
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Chairman Chief Executive Officer Trustees Victor Hibbert Tom Lavis Astra Bassett John Barton Coates Victor Hibbert Helen Mary Hart David Tytherleigh Arash Dinari Graeme Charles Catling Annette Marie Stone Dean Anthony Bennett Jo Greenwood Jeremy Robert Sleet Rev Lawrence Braschi William John Bale (Appointed 31/03/2025) Maria Stella Azzopardi Secretary Charity Registration Number 1066919 Company Registration Number 03426094 Registered Office Honicknowle Lane Plymouth Devon PL5 3NG Auditor Westcotts (SW) LLP Plym House 3 Longbridge Road Plymouth Marsh Mills Devon PL6 8LT Solicitors: Wolferstans 60-66 North Hill Plymouth Devon PL4 8EP Page 1
(MCA Plymouth Lti (A COMPANY LIMITED BY GUARANTEE REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Bankers HSBC Bank Plc Plymouth 4 Old Town Street City Centre Plymouth PL1 1DD Page 2
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Memorandum and Articles of Association, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published effective 1 January 2019. Our Vision Empowering our community to thrive through Education; Wellbeing; Youth, Family and Support services. Our Mission Delivering welcoming and personable services which address local needs to help our community thrive through education; Wellbeing; Youth, Family and Support services. Training & Education Health & Wellbeing Family & Youth Work Support & Advice Page 3
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Our values are: Welcoming - We offer people space they need to feel secure, respected, heard and valued Empowering - We inspire each person we meet to realise their own strengths and reach their full potential in all they do nclusiveness - We ensure that everyone regardless of their ability, age, ethnicity, gender, religior exual orientation or socio-economic background has the opportunity to belong, contribute and thrive Serving - We are committed to the wellbeing of the communities we serve and believe in the positive benefit of participation, locally and in the wider world Background YMCA Plymouth has been providing opportunities for young people since 1848. It is affiliated to YMCA England & Wales and is part of a wider International Movement with 45 million members berating in more than 125 countries. It is a charity and company limited by guarantee that verned by a voluntary Board of Trustees. The Board of Trustees determine the vision and directi of the Association. YMCA Plymouth is a sustainable charity which balances the need to generate income whilst achieving its social impact. Public Benefit The carty True have compied with that de are conditioner r any private benefit from the Charity Page 4
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Executive Summary YMCA Plymouth offer a wide range of services across two facilities. We operate from our main centre, based in Honicknowle Plymouth, as well as from a community hub in Torpoint, Cornwall. Our mission is to deliver professional and personable services that support young people and our community, focusing on our 3 strategic priorities: YMCA Plymouth are an inclusive charity that aims to reach out to all people, inspiring them to develop in mind, body & spirit. We do this by supporting young people and the wider community with a diverse range of Commercial and Charitable services including: • Vocational Education Training • Community Gyms • Fitness Classes • Grass root Sports & Activities • Disability Sports & Activities • Holiday Club provision • Cardiac Rehabilitation • Targeted Youth Work • Crisis Support • Affordable Facility Hire • Family Activities • Social Prescription Activities • Community garden - providing food for families in crisis • NEET Engagement & Employability Programmes YMCA Plymouth strives to be a sustainable charity which balances the need to generate income while achieving our social impact. In delivering our work we have adopted a Social Enterprise Model where every penny generated through our activities is reinvested in our business (For more info see page 6 - 'Business Model). Our social enterprise activities help sustain our organisation, whilst maximising the social benefits and charitable work on offer to our community. YMCA Plymouth's revenue is further supported by a combination of grants and funding streams which allow us to develop, promote and deliver innovative new programmes to invest in our people, regardless of age, sex, social economic backgrounds etc. Since COVID-19, YMCA Plymouth has continued to make improvements in our annual sales and alongside good financial management. These efforts maintain our long-term sustainability, whilst allowing us to plan for the future Page 5
/MCA Plymouth Ltd A COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Our 5x5 Strategic Plan Strategic Work Areas Aim's - The How's Education & Training Health & Wellbeing 1.0 1.1 Maintain & improve quality of education 1.2 Grow our student body Expand provision to new sectors linked to local 1.3 industry priorities Expand existing estate and provide more 1.4 educational delivery space Produce an executive summary on the above and 1.5 provide future proof strategy 2.0 Offer a range of health & wellbeing advice & 2.1 guidance Expand existing health services by embedding 2.2 external agencies (HWB Hub) 2.3 Grow the 'Active Referral' provision Cyclically develop and modemise our physical fitness 2.4 equipment & provision 2.5 Develop more activity spaces for HWB provision Youth, Families & 3.0 Community 3.1 Identify and grow existing provision for young Page 6
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 people & families 3.2 providers famiration with other youth & family Cyclically develop and modernise early years / sot 3.3 play provisior 3.4 Develop innovative opportunities for young people 3.5 Expand community outreach work 4.0 Identify what advice our community needs - 4.1 undertake gap analysis / utilise partners Continue to provide mentoring provision for young Support & Advice 4.2 people Support & Advice 4.3 Develop internal support structure with staff training Enhance and encourage on-site delivery fron 1.4 partners (Family Hub] Externally promote YMCA's support & advice (e.g. 4.5 Big Parents / Launchpad 'Live') 5.0 Ensure tight control of finances to ensure 5.1 sustainability Sustainability & Develop Honicknowle facility to increase delivery Growth 5.2 capacity 5.3 Maintain and develop fundraising opportunities 5.4 Grow & maintain stakeholder network 5.5 Review and promote operational and social impact YMCA Plymouth is suitably structured with expertise in both Governance and Management, ensuring we meet our aim that every penny raised is wisely invested back into our enterprise and charitable Page 7
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Business Overview & Structure YMCA Plymouth is an independent registered charity affiliated to the National Council of YMCAs in England & Wales. Our affiliation to YMCA England & Wales enables us to be part of a large network of YMCAs in order to share resources, learn from best practice, be part of the national brand ano coordinate with national campaigns advocating for young people. Whilst being part of this federation we remain autonomous as a charity, enabling us to shape our provision independently to address local needs. Business Model Our charity business model is divided between what we term "charitable work" and "community provision". While there is much overlap between both areas, we broadly define our services within these categories based on the following criteria: 1. Whether the service generates surplus 2. How targeted or vulnerable the beneficiaries are 3. How specific the social outcomes are to those individuals Through this framework, the surplus generating provision follows a typical social enterprise model, making a social impact while generating surplus to both reinvest in the services themselves and support our charitable services. As a charity this makes us less dependent on grants and donations whilst broadening our social impact at the same time. Services (Lists not exhaustive) Beneficiaries Social Outcomes (Lists not exhaustive) Funding Charitable Wor Disability Sport Cardice Rehobilitalica - Torgeted Youth Work • Grassroots Sport Crisis Support Vulnerable & Targeted Particularly young people& those with specific neede - Social inclusion - Better life chances - Social mobility - Reduced Impacts of child poverty Non surplus generating community Provision: Community Fitness Vocational Training Holiday Youth Clubs - Affordable Facility Hire Family Activities Local Community Focus on serving areas of medium-high deprivation - Improved health - Greater wellbeing - Skills & opportunities - Support for parents • Community cohesion Surplus Generated Social Enterprise Page 8
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Social Impact YMCA Plymouth's work reaches over 25,000 people each year. Through our work areas of education, health and families, we make a positive impact on people's lives in a multitude of ways; from improved wellbeing to gaining skills for life, to feeling a sense of belonging in their community. YMCA Plymouth operates in and near local areas with particularly high levels of deprivation, including areas within the 4-10% most deprived in England. Over 70% of YMCA Plymouth's service users come from areas within medium-high levels of deprivation. Our impact is measured though a mixture of quantitate, and qualitative data gathered through surveys, data from our EZ Facility system, and measures particular to work areas, such as College achievement rates and cardiac patient health checks. We support over 25,000 people in Plymouth 60 2000 Extra years of life expectancy given to people helped by our active referrol and cardioc rehab programmes 3,100 Young people engaged with local businesses through our employability events & programes 9,000 minutes of free saft play sessions given to SEND chlidren and lomilles in need Ol 1,600 Chiloren sensit from sur helme youth provin 340 Children celebroted ben party hire spoces 85 Free youth club spaces & meals provided to disadvantoged young people 1,200 Hours of 1-1 mentoring given to young people to improve their confidence and employment apportibities 100 Londly a salated people taken on over 100 trips across Devan 2,250 meals worth of fruit & veg donated to famities in need Our impact in one year Page 9
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Environmental impact YMCA Plymouth recognises it has a social responsibility to contribute to the green agenda and has invested in environmental projects that whilst benefit the organisation in costs savings are also o benefit to the wider 'areen initiative' Complete Zero waste to landfill Recycling, reducing & reusing waste as well as working with specialist waste portners so that as little waste as possible goes to landfill YMCAI fere for young peopl Here for communitie Here for you Complete Building a greener YMCA for our community Complete: More insulation / We've added huge amounts of insulation to our huge sports hall roof, helping our energy efficlency - much like a woolly hat! Electric car charging points Solar Panels Newly Installed solar panets across our sports hall roof generating dean energy Compotere LED Lights Over 320 lights changed to eco-friendly LEDs Complete E-bike Hub Pick-up and drop-off e-bikes Complete future Net Zero STANDARD BENCHMARK CERTIFIED Licence No:FNZ1012022 April 3019 - March 3000 Complete Miyawaki Forest Carbon-absorbing, super-dense & biodiverse micro-forest We're proud Merbers of Officially certified Corbon Footprint so that we can measure and track our progress to Net Zero. Complete Complete Community 22 Trees planted and 40+ fruit & Garden & veg varieties grown for fomilies in need Fruit Orchard Plastie Free Directory Greenp Tourism BRONZE Public Benefit The Trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. The Charity's Trustees have complied with their duty in Section 4 of the Charities Act 2011 to have due regard to Public Benefit guidance issued by the Charity Commission. The Trustees do not receive any private benefit from the Charity. Page 10
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 The Trones have a reasonable expectation that the organisation, with it firmy embedded statements. Further details regarding the adoption of the going concern basis can be found in the Financial review During the year the charity received incoming resources of £2,023,145 (2024: £1,628,774) and had total expenditure of £2,022,736 (2024: £1,664,932) with increases in course income and grants received. Overall net income was £583 (2024: net expenditure of £36,234). The total reserves of the charity at 31 March 2025 were £2,537,554 (2024: £2,536,971). Unrestricted reserves at 31 March 2025 were in a deficit of £95,057 (2024: Deficit of £53,118), with this further decrease being largely due to transfers from unrestricted funds to the endowment and restricted fund for property improvements and a reduction in the pension fund debt respectively. The trustees have prepared budgets and cash flow forecasts to the end of December 2026, based on prudent assumptions and possible alternative alternative scenarios. The Trustees recognise that the charity will require the continued support of the bank in the form of an overdraft facility at stages during this time and there is no evidence of breaching this facility. Reserves Policy The reserves policy is reviewed annually by the Board of Trustees. The policy seeks to achieve fiscal stability by the continual strengthening of the charity's reserves. This is necessarily a relatively slow process, given the sector in which YMCA Plymouth operates, the nature of the services provided, the funding structure of the projects undertaken and the increasingly difficult financial climate. A policy of tull cost recovery is applied to all contracts wherever possible. Despite the difficult economic climate, YMCA Plymouth has continued to maintain all its existing contracts. We are aiming to achieve 2-months of running costs (excluding depreciation) as a reserve, in the 1st instance our priority over the next two years is to accrue at least £100,000 in free reserves. The Board has established an expectation that, apart from development services, every project or service must go into a new financial year with a balanced budget. Structure, governance and management Constitution Plymouth YMCA Limited is a company limited by guarantee governed by its Memorandum of Association dated 23 June 2009 and Articles of Association dated 26 December 2019. It is registered as a charity with the Charity Commission. Page 11
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Recruitment and appointment of Trustees Appointment of Trustees The Board of Trustees, who are also Directors, consists of such number of individuals elected from amongst the Full Members at the AGM as required to ensure that, following the AGM, the total number of Directors will comprise a minimum of six and a maximum of fourteen. Directors are appointed for a period of three years, which may be renewed twice, by vote at the AGM. A Director who is retiring from office after three terms of three years shall not be eligible for re-election until a period of twelve months has expired since they were a Director. The Board has the power to co-opt new Trustees between AGM meetings as they consider appropriate. Appointment of Chairman and Vice Chairman The Chairman and Vice Chairman are elected by the Board and the Board decide the period during which the Chairman and Vice Chairman are each to hold office. An individual may only hold office as Chairman or Vice Chairman so long as he/she is a Director and shall not be eligible for re-election by the Board as Chairman and Vice Chairman if he/she has already served for two consecutive three-year terms of office as Chairman and Vice Chairman unless a period of twelve months has expired since he/she was Chairman or Vice Chairman. The current Chairman was appointed at the board meeting held in April 2022. Induction and training of Trustees Prospective Trustees are given a detailed introduction to YMCA Plymouth, the role, structure and governance of the Association. The candidate is given guidance on the responsibilities of a Trustee as defined in the YMCA's Board of Trustees Handbook. New Trustees are co-opted until the following AGM, when they can stand for election to the full Board. Co-opted Trustees have full voting rights, but their appointment must be ratified at the next AGM. Training for the Board takes many forms which include an induction process and the provision of regular reports and literature. Trustees can also obtain 'hands on' experience by working with the their knowledge and experience. Organisational structure CEO & Board Chair meet weekly. Page 12
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Chief Executive Officer Support / Governance Finsas Previe Орегатори Flame Provisie HR Business Partner / Company Fondraisine star reaith a Lestate & Chabe Restate a Cute harpent to CEO School Engagement Accountabllity / Oversight Operations Support & Develapment Board of Trustees Cntical Friends / Members / Community Stakeholders YMCA Plymouth continually demonstrates a proactive response to sustainability challenges. With traditional funding sources continuing to be cut, combined with increased forced rises in expenditure due to government legislation, YMCA Plymouth staff are committed to generate income streams that are more sustainable in the long term, thus making the Association less reliant on short term contracts and short-term grant funding. Grants are still very important to pursue but should be based on enhancing the programme rather than supporting non-sustainable delivery. These are difficult times for many charities, but especially those working with young people. YMCA Plymouth is determined to ensure that it safeguards its future by creating new areas of growth to ensure longer term sustainability. Risk Management The Board of Trustees is responsible for the organisation's systems of internal control, including risk management. The Chief Executive Officer is the accountable officer and is responsible for the management of systems for internal control and the implementation of policies set by the Board. The Finance Sub Committee of the Board monitors and scrutinises the budget and accounting practice. YMCA Plymouth Business Plan determines the strategic direction of the organisation. Operations and day-to-day management are determined by financial regulations, and internal controls are supervised by the Chief Executive Officer, with support from the Finance Director. We continue to monitor our risk management framework and follow the guidance of the Charity Commission "Charities and risk management CC26" to ensure that we comprehensively capture risk across a range of categories. The Finance Sub Committee has oversight of our financial risks, review them regularly and report back to every full Board meeting. • Manage risks, costs and resources to deliver our strategy o Maintain a 'risk-register' outlining the key financial risks to the business o Maintain an up-to-date business continuity plan o Ensure a thorough and robust budgetary process is followed and approved by the Board of Trustees o Ensure a suitable reviewing process by Leadership Team and finance subcommittee Page 13
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 • Develop new commercial and sustainable sources of income • Continue the ongoing redevelopment program at Honicknowle site o Develop and invest in new opportunities, ensuring they are viable and sustainable • Ensure any new commercial ventures are suitably resourced and promoted through a planned approach to marketing Information on fundraising practice The Trustees are committed to follow the Charity Commission CC20 guidance to make sure YMCA Plymouth meets the standards in the code of Fundraising Practice and complies with the law. Disclosure of Information to Auditors Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. Our Charity Patrons Organisations who kindly support our work with contributions or regular donations: nimace babcock bailey bartnerstup TRID REGLOWI TARC** Rubbermaid rowe PUSHED EKIER green!. ght Total CACIS TR West. TClarke city: FCS 88 NORDIC CYGS LANDSCAPES OMB EKINSI WESTCOTTS NIVERSITY LYMOUT Page 14
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 • MARO NIVERSIT INHS University Hospital ¿FOCUS TAME COOL BEG Acronyms STORMERNE CROWNHIL DENTAL PRACTICE STAL PLYMOUTH ICTIVE W babcock' The KAM GrouP SW RES §ÊčÜRE Our Charity Partners Key organisations and partners we work with: A POLICE The Plymouth Charter resonance *i childre SPOP+ DEVON & RAMBER CHAMBER CONNECT | GROW | SUCCEED NHS EITH ELLIOT, ISNOVATION LeSMIlLS Page 15 Wolferstans h lymouti EITH ELLIO; NATRLKTION LTI C course Special Olympics UK active Mcre active Melt out "PRECOR A/ AZETS PCO кокдоліх Zactive devon The Cabin (Childtere Centres ITALIA CONTI ASSOCIATES PLYMOUTH
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 SE SPINNING © Empary BARNARDOS LANOSCAPES trevi where life begins STANDARD Horizon + Tamar Crossings FRUStENTY Vospers S SECURE SPORT SPORAND The annual report was approved by the trustees of the charity on 20/0/25... and signed on its behalf by: ... 5A Victor Hibbert Chairman and trustee Page 16
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Independent Auditor's Report to the Members of YMCA Plymouth Ltd Opinion We have audited the financial statements of YMCA Plymouth Ltd (the 'charity") for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Statement of Financial Position, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: • give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and • have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities SORP. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the conclusion thereon. Page 17
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Independent Auditor's Report to the Members of YMCA Plymouth Ltd n connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: • the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the Trustees' Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or • the financial statements are not in agreement with the accounting records and returns; or • certain disclosures of trustees remuneration specified by law are not made; or • we have not received all the information and explanations we require for our audit. Responsibilities of the trustees As explained more fully in the trustee's responsibilities statement, the trustee (who is also the director for the purposes of company law) is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such Internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee hat an audit conducted in accordance with ISAs (UK) Will always detect a material misstatemen when it exists. Misstatements can arise from fraud or error and are considered material if, individuall or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Page 18
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Independent Auditor's Report to the Members of YMCA Plymouth Ltd The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: • We identified areas of laws and regulations that could reasonably be expected to have a material eftect on the tinancial statements trom our general commercial and sector experience and through discussion with the directors and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit. • The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation. • Matters regarding non-compliance with laws and regulations and fraud were communicated with the engagement team. • Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and perormed our audit in accordance with auditing standards. In any audit, there remains a nigher risk ot non-detection of irregularities, as these may involve collusion, forgery intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. • Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Page 19
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Independent Auditor's Report to the Members of YMCA Plymouth Ltd We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control. A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report this report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we night state to the charity's trustees those matters we are required to state to them in an auditor: eport and for no other purpose. To the fullest extent permitted by law, we do not accept or assum responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. Walates (sas cl Adam Croney ACA (Senior Statutory Auditor) For and on behalf of Westcotts (SW) LLP Chartered accountants & statutory auditor Plym House 3 Longbridge Road Plymouth Marsh Mills Devon PL6 8LT Date: 26/10/25 Page 20
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted Restricted Endowment funds funds Total 2025 € Note Income and Endowments from: Donations and legacies 4 Other trading activities 5 Investment income 6 Total income Expenditure on: Raising funds Charitable activities Total expenditure Gains/(losses) on investment assets Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 24 31,071 1,886,488 2,090 1,919,649 (24,628) (1,867,110) (1,891,738) 174 28,085 (70,024) (41,939) (53,118) (95,057) Total 2024 103,496 - 103,496 134,567 1,886,488 2,090 2,023,145 63,172 1,564,347 1,255 1,628,774 (44,748) (44,748) (24,628) (86.250) (1.993,108 (16,715) (1,648,217) (86,250) (2,022,736) (1,664,932) 174 (76) 58,748 23,310 82,058 (86,250) 46,714 (39,536) 583 (36,234) 583 (36,234) (61,337) 2,651,426 2,536,971 2,573,205 20,721 2,611,890 2,537,554 2,536,971 The notes on pages 24 to 42 form an integral part of these financial statements. Page 21
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) (Registration number: 03426094) Statement of Financial Position as at 31 March 2025 Note Fixed assets Tangible assets Investments 15 16 2025 2,985,343 4,251 2,989,594 2024 2,992,209 4,077 2,996,286 Current assets Stocks Debtors Cash at bank and in hand 17 19 Creditors: Amounts falling due within one year 20 Net current liabilities Total assets less current labilities Creditors: Amounts failing due after more than one year 21 Net assets 500 54,824 105,855 161,179 (518,682) (357,503) 2,632,091 (94,537) 2,537,554 500 98,944 68,995 168,439 (434,653) (266,214) 2,730,072 (193,101) 2,536,971 Funds of the charity: Endowment funds 2,611,890 Restricted funds Unrestricted funds 20,721 (95,057) Total funds 24 2,537,554 2,651,426 (61,337) (53,118) 2,536,971 The financial statements on pages 21 to 42 were approved by the trustees, and authorised for issue on 20/10/25. and signed on their behalf by: G. trold Victor Hibbert Chairman and trustee The notes on pages 24 to 42 form an integral part of these financial statements. Page 22
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Statement of Cash Flows for the Year Ended 31 March 2025 Note 2025 2024 Cash flows from operating activities Net cash income/(expenditure) Adjustments to cash flows from non-cash items Depreciation of tangible fixed assets Investment income Interest income Working capital adjustments Decrease/(increase) in debtors Decrease in creditors Increase in accruals and deferred income Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income Purchase of tangible assets Net cash flows from investing activities Cash flows from financing activities Repayment of loans and borrowings Proceeds from other borrowings during the period Payments of finance lease liabilities Net cash flows from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March 15 16 6 18 20,21 20 15 19 583 205,552 (174) (2,090) 203,871 44,120 (13,049) 138,943 373,885 2,090 (198,686) (196,596) (14,047) (44,997) (59,044) 118,245 (12,390) 105,855 (36,234) 185,398 76 (1,255) 147,985 (48,605) (103,844) 98,209 93,745 1,255 (110,833) (109,578) (12,639) 45,000 (44,089) (11,728) (27,561) 15,171 (12,390) The notes on pages 24 to 42 form an integral part of these financial statements. Page 23
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charity status The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Finance Department, Honicknowle Lane, Plymouth, Devon, PL5 3NG. The charity was formerly known as Plymouth Young Men's Christian Association, with the name change effective from 19th February 2025. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Basis of preparation relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Fund accounting The Endowment Fund represents the net book value of the Kitto Centre, the Charity's main operational premises, except for additions to the property made out of restricted funds. An annual transfer is made of any unrestricted additions made to the property each into the endowment fund. Page 24
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: • income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. • legacy income is recognised when receipt is probable and entitlement is established • income from donated goods is measured at the fair value of the goods unless this is Impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. • Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. • Government grants are recognised at the fair value of the asset received or receivable, Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received • Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance- related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: • expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. • expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable alms for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. • other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Page 25
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Tangible fixed assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. An Increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities, A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation and amortisation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Asset class Freehold property Long leasehold property Fixtures, fittings and equipment Motor vehicles Computer equipment Depreciation method and rate 5 to 50 years Over the period of lease 2 to10 years 5 years 2 to 5 years Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Page 26
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 Stock Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs Incurred in bringing the stock to its present location and condition. Finance leases and hire purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does mpose specified future performance-related conditions on the recipient, it is recognised in incom only when the performance-related conditions have been met. Where grants received are prior t satisfying the revenue recognition criteria, they are recognised as a liability. Page 27
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 Financial instruments Recognition and measurement A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are Initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the Initial gain was recognised. Impairment For all equity instruments regardless of significance, and other financial assets that are Individually signiticant, these are assessed individually for impairment. Other financial assets are either assessed Individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Page 28
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which Pensions and other post-retirement obligations The Charity participated in a multi-employer defined benefit pension scheme for employees of YMCA's in England, Scotland and Wales, which was closed to new members and accruals on 30 April 2007. Due to insufficient information, the plan's actuary has advised that it is not possible to separately identify the assets and liabilities relating to YMCA Plymouth. * t a to the operaing expenses or the Ponion Plan Exp his coco ang changed to the 3 Limited by guarantee he charity is limited by guarantee, incorporated in England and Wales, and consequently does no ave share capital. Each of the trustees is liable to contribute an amount not exceedina £1 toward the assets of the charity in the event of liquidation. Page 29
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from donations and legacies Donations and legacies; Donations from individuals Other grants Donations and legacies; Donations from individuals Gift aid reclaimed Other grants Unrestricted funds € 31,071 31,071 Unrestricted funds € 41,761 1,561 = 43,322 Restricted funds - 103,496 103,496 Restricted funds : 19,850 19,850 Total 2025 31,071 103,496 134,567 Total 2024 41,761 1,561 19,850 63,172 Page 30
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 5 Income from charitable activities Grants - other agencies Facilities Sports Courses Catering Income Memberships Rental income Other income Grants - other agencies Facilities Sports Courses Catering Income Memberships Rental income Other income Unrestricted funds General 108,373 570,472 98,134 881,938 1,033 11,451 175,505 39,582 1,886,488 Unrestricted funds General € 34,640 546,744 100,287 711,872 1,421 13,606 113,267 42,510 1,564,347 Total 2025 € 108,373 570,472 98,134 881,938 1,033 11,451 175,505 39,582 1,886,488 Total 2024 34,640 546,744 100,287 711,872 1,421 13,606 113,267 42,510 1,564,347 6 Investment income Interest receivable and similar income; Interest receivable on bank deposits Unrestricted funds 2,090 Total 2025 € 2,090 Total 2024 € 1,255 Page 31
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 7 Expenditure on raising funds Marketing and publicity Staff Costs Unrestricted funds 23,379 1,249 24,628 Total 2025 23,379 1,249 24,628 Total 2024 € 15,368 1,347 16,715 8 Expenditure on charitable activities Staff costs Depreciation Premises costs Lease costs Subscription Telephone, printing and stationery Irrecoverable VAT Programme costs Banking costs Pension deficit costs Other costs Governance costs Activity undertaken directly 1,297,735 205,552 183,445 23,221 33,389 11,908 32,623 121,997 29,259 2,918 13,121 - 1,955,168 Support costs - - : 40.032 40,032 2025 1,297,735 205,552 183,445 23,221 33,389 11,908 32,623 121,997 29,259 2,918 13,121 40,032 1,995,200 2024 1,064,558 185,398 168,807 24,025 34,737 11,570 14,700 92,255 25,334 (66,706) 56,550 36,989 1,648,217 Page 32
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 9 Net losses on investments Unrestricted funds 2024 € Gains / (losses) on listed investments 174 174 Total 2025 € 174 174 Total 2024 (76) (76) 10 Analysis of governance and support costs Governance costs Audit fees Accountancy costs Legal fees Unrestricted funds 6,750 2,250 31,032 40,032 Total 2025 6,750 2,250 31,032 40,032 Total 2024 € 6,044 2,206 28,739 36,989 11 Net incoming/outgoing resources Net incoming/(outgoing) resources for the year include: Auditors' remuneration Depreciation 2025 9,000 205,551 2024 € 8,250 185,398 12 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the Charity during the year. Page 33
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 13 Staff costs The aggregate payroll costs were as follows: 2025 € 2024 € Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs 1,136,930 81,948 20,933 57,925 1,297,736 970,357 73,380 20,821 45,016 1,109,574 The average head count of employees (including senior management team) during the year was 53 (2024: 51). This equated to 40 (2024 - 36) full time equivalent positions. The staff were utilised across the charity in the following areas: Plymouth Site Torpoint Site Discovery College Back of House Zero hours employees 2025 No 20 7 22 4 19 2024 No 23 7 17 4 9 The charity utilises zero hours contracts for casual staff who fulfil crucial roles in the organisation during certain key periods such as school holidays, when the demand for services increase. The contribution of our volunteers is also essential to our service provision. Whilst this value is not quantified in the accounts, we are very grateful to our regular volunteers who numbered around 63 in 2025(2024 64). No employee received emoluments of more than £60,000 during the year (2024: Nil). Key Management Personnel Key management personnel include all persons that have the authority and responsibility for planning Page 34
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 14 Auditors' remuneration Audit of the financial statements Other fees to auditors All other non-audit services 15 Tangible fixed assets Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Freehold property 3,748,483 46,714 3,795,197 1,097,057 86,250 1,183,307 2,611,890 2,651,426 2025 6,750 2,250 2024 € 6,044 2,206 Fixtures, leasehold fittings & property equipment 46,641 103,620 150,261 43,708 2,667 46,375 765,347 24,480 789,827 500,894 107,720 608,614 Motor Compute vehicles equipmen 67,800 67,800 67,800 67,800 Total 115,781 4,744,052 23,872 198,686 139,653 4,942,738 104,450 1,813,909 8,915 205,552 113,365 2,019,461 103,886 2,933 181,213 264,453 - 26,288 2,923,277 11,331 2,930,143 Page 35
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 16 Investments Other investments € Cost or Valuation At 1 April 2024 Revaluation At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 17 Stock 4,077 174 4,251 4,251 4,077 Total € 4,077 174 4,251 4,251 4,077 2025 500 2024 € 500 Stocks 18 Debtors Trade debtors Prepayments 2025 37,387 17,437 54,824 2024 € 63,966 34,978 - 98,944 19 Cash and cash equivalents Cash at bank Bank overdrafts Cash and cash equivalents in statement of cash flows 2025 105,855 105,855 2024 68,995 (81,385) (12,390) Page 36
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 20 Creditors: amounts falling due within one year 2025 Bank overdrafts Bank loans Trade creditors Other loans Hire purchase and finance leases Other creditors Accruals Deferred income 15,434 47,032 18,645 44,089 90,718 103,765 198,999 518,682 2024 81,385 14,043 59,639 18,094 44,997 52,674 75,838 87,983 434,653 Creditors due within one year includes the following liabilities, on which security has been given by the Charity: HSBC Bank loans - £26,548 (2024: £40,595) HSBC Bank PLC have a first legal charge dated 10 August 2017 over freehold property known as YMCA, Honicknowle Lane, Plymouth, PL5 3NG and on freehold property known as land on the north east side of Honicknowie Lane, Honicknowle. HSBC Bank PLC also have a debenture including a fixed charge over all present freehold and leasehold property, a first charge over book and other debtors, chattels, goodwill, and uncalled capital, both present and future and a first floating charge over all assets and undertakings both present and future, dated 10 August 2017. Other loans Included in other loans are the following secured amounts: Postcode Innovation Trust - due within one year £18,645, due after one year - £29,035, all repayable within five years, interest charged at 3% pa. Postcode Innovation Trust have a floating charge over the property and undertaking of the charity dated 1 July 2020. 2025 Deferred income Deferred income at 1 April 2024 Resources deferred in the period Amounts released from previous periods Deferred income at year end € 87,983 2,266,203 (2,155,187) 198,999 2024 35,433 87,983 (35,433) 87,983 Income has been deferred in recognition of the performance criteria set out by the relevant grant funding bodies, which have not been met at the period end. Page 37
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 21 Creditors: amounts falling due after one year 2025 2024 € Bank loans Other loans Hire purchase and finance leases Pension scheme creditors 11,114 26,552 29,035 47,680 33,067 77,156 21,321 41,713 94,537 193,101 The finance leases relate to gym equipment and a boiler recognised within the fixtures and fitings and chrome books recognised as computer equipment all of which are Included in fixed assets. The 7, 56 2a2 121 car the isle or til to the here which or le alging ale under the finance leases are appropriate to their fair values. 22 Obligations under leases and hire purchase contracts Assets held under finance leases The total value of future minimum lease payments was as follows: Within one year Between one and five years 2025 € 44,089 33,067 77,156 2024 44,097 77,156 121,253 Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: Within one year Between one and five years 2025 11884 17,076 2024 € 12,113 17,075 29,188 23 Pension and other post-retirement benefits. mounts due li one o five ears amourin to 1327 2024-32, 19, 420415 due ate the Page 38
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 24 Funds Unrestricted funds Restricted funds Pension fund Xmas household fund Capital (Ocean play and solar panels) Shared prosperity fund Other small grants Endowment funds Total funds Unrestricted funds Restricted funds Pension fund Sports grants Xmas household fund Capital (Ocean play and solar panels) Other small grants Endowment funds Total funds Balance at 1 April 2024 € Incoming Resources resources expended Transfers € € (53,118) 1,919,649 (1,891,738) (70,024) (64,007) 836 (2,919) 23,310 - - 1,834 = (61,337) - 101,096 2,400 103,496 2,651,426 2,536,971 2,023,145 (1,834) (37,595) (2,400) (44,748) (86,250) (2,022,736) - - 23,310 46,714 Balance at 1 April Incoming Resources 2023 € resources expended Transfers 168,589 1,608,924 (1,645,727) (184,828) (159,218) 20,254 836 4,437 14,700 66,706 (6,900) 28,505 (28,054) (133,691) 2,538,307 2,573,205 (1,020) 5,150 19,850 (5,150) 53,636 (72,841) 1,628,774 (1,664.932) (1,583) (1,132) 185,960 Other Balance at gains/ 31 March (losses) 2025 174 (95,057) - (43,616) 836 - - 63,501 174 Other recognised gains/ (losses) (76) 20,721 2,611,890 2,537,554 Balance at 31 March 2024 € (53,118) . (64,007) 836 1,834 (61,337) = 2,661.426 (76) 2,536,971 Page 39
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 The specific purposes for which the funds are to be applied are as follows: Pension Fund - represents the liability the charity has for payment to the YMCA England Defined Benefit Pension Scheme to cover their portion of the overall deficit. This is currently expected to be repaid in 2027 Football grants covers income received from The Football Foundation, Barclays Community Fund, and The Together Fund. This has been awarded and used to increase participation and experiences in football for disadvantaged youths, as well as for the laying of an artificial surface which is held within fixed assets. Climbing Grants have been received to fund places for young people to be able to participate in indoor climbing and to enable repairs to the climbing wall in Plymouth. Xmas Household funding was received to spend on support for families struggling with financial pressures around Christmas time. This was not fully spent in December 2022, any amounts not spent in future periods may need to be repaid SPF - The Shared Prosperity Fund (SPF) project was co-designed and co-developed by the Skills and Post 16 team in Plymouth City Council (PCC) and Plymouth YMCA (YMCA). It builds on work that has een successfully delivered across the city and creates a new programme to support the delivery o le key priorities within PCC's UK Shared Prosperity Investment Plan (UKSPF), while piloting nei ways of working for delivery beyond 2025. The main reveue activities are: - Supporting green skills and high value technical skills - creating and enhancing pathways to employment - developing and releasing the talent of our young people - Supporting local skills needs in retaining and attracting new talent to the high value technical sectors - Supporting local skills needs in health and care Other Capital grants have been received to aid in the installation of solar panels and the new soft play facility at the YMCA centre in Honicknowle. Small one off fully expended grants are not shown separately, but are always appreciated. Page 40
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 25 Analysis of net assets between funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets 26 Analysis of net funds Unrestricted funds General € 311,387 4,251 158,909 (496,388) (73,216) (95,057) Restricted funds € 62,066 2,270 (22,294) (21,321) 20,721 Endowment funds Permanent 2,611,890 2,611,890 Total funds at 31 March 2025 2,985,343 4,251 161,179 (518,682) (94,537) 2,537,554 Cash at bank and in hand Bank overdraft Debt due within one year Debt due after more than one year Finance leases and hire purchase contracts Net debt At 1 April 2024 68,995 (81,385) (12,390) (47,571) (74,232) (122,153) (256,346) Cash flows € 36,860 81,385 118,245 (1,942) 34,083 44,997 195,383 At 31 March 2025 € 105,855 105,855 (49,513) (40,149) (77,156) (60,963) 27 Related party transactions During the year the charity made the following related party transactions: Vic Hibbert - Trustee During the year the charity paid VH HR services £18,200 (2024: £10,446) for services in connection with Human Resource Consultancy. This is a business run from Vic Hibbert on a self-employed basis. At the balance sheet date, the amount due to Vic Hibbert was £Nil (2024: Nil). Arash Dinari - Trustee Arash is a solicitor at Wolferstans LLP In Plymouth, during the year the Wolferstans made donations to the charity of £6,648 (2024: E108). At the balance sheet date the amount due to Wolferstans was £Nil (2024: Nil). At the balance sheet date, the amount due to/from Arash was £Nil (2024: £Nil). Jeremy Sleet - Trustee During the year the charity has paid a retainer of £2,930, on favourable terms, to 'No Accident' a business owned by Jeremy in connection with covering health and safety services (2024: £Nil). At the vear end the balance due to/from No accident was £200 (2024: £Nil). Page 41
YMCA Plymouth Ltd (A COMPANY LIMITED BY GUARANTEE) Notes to the Financial Statements for the Year Ended 31 March 2025 28 Pension commitments Plymouth YMCA participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCAs in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of Plymouth YMCA and at the year end these were invested in the Mercer De-risking Solution, 40% matching portfolio and 60% in the growth portfolio and Schroder (property units only). The most recent completed three year valuation was as at 1 May 2023. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed discount rate of 4.56%, the increase in pensions in payment of 3.41% (for RP! capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 22.2 years, female 24.1 years and 24.0 years for a male pensioner, female 26.0 years, retiring in 20 years' time. The result of the valuation showed that the actuarial value of the assets was £103.3m, This represented 92% of the benefits that had accrued to members. The Pension Plan was closed to new members and future service accrual with effect from 30 Apri 2007. With the removal of the salary linkage for benefits all employed deferred members became deferred members as from 1 May 2011. The valuation prepared as at 1 May 2023 showed that the YMCA Pension Plan had a deficit of £21.8m. Plymouth YMCA has been advised that it will need to make monthly contributions of £1,943 from 1 May 2023. This amount is based on the current actuarial assumptions (as outlined above) and may vary in the future as a result of the actual performance if the pension plan. The recovery period is Page 42