Newcastle upon Tyne YMCA Annual Accounts and Trustees Report
1 April 2023 – 31 March 2024
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1. About Us
full and rewarding life: a safe home; acceptance; guidance; friendship; physical and mental health; academic support; employment skills; and access to real opportunities. Many young people have never known these things; other people have lost one or more as they grew up, but we all need them. All of us. At YMCA, we provide these critical foundations for a fresh, strong start for young people and a better quality of life in the community.
We believe that everyone should have a fair chance to discover who they are and what they can become.
About YMCA
The YMCA is a global federated movement made up of 1,000s of individual, autonomous local YMCAs serving their local community. Each local YMCA is independent and responsible for its own governance and finance. In the UK there are over 100 local YMCAs. YMCA Newcastle is one, formed in 1849 it is one of the oldest.
The YMCA Our Vision Federation believes Our Vision is of in fairness and thriving and opportunity. There inclusive are essential communities. building blocks for a
Our Mission Our Mission is to provide the opportunities, resources and support so that the community and its young people can belong, contribute and thrive.
The journey of support can be a long one, our services are for 11 to 25 year olds
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Our Values The way we act at YMCA Newcastle is characterised by our values that flow from the YMCAs Christian heritage. These are;
Unconditiona l:- our support to young people is unconditional regardless of their actions, beliefs and attitudes Equity :- we work to reduce inequalities and allocate our resources depending on individual needs and circumstances.
Respect :- we respect individuals for who they are regardless of their circumstances.
Tolerance :- we don’t judge people and we
embrace different lifestyles, opinions, cultures and beliefs.
Openness :- our culture is transparent so that all our stakeholders can see the work we do.
Integrity :- by acting in accordance with our organisational beliefs and values to do the right things, in the right way at the right time.
Sustainability :- We strive for long term sustainability by governing the organisation to ensure its long term ability to meet the future needs of the community and its young people.
Working out who you are, who you want to be and how to make a positive transition into independence has many challenges, our support services are tailored to meet individual’s needs.
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1a. Setting our Vision for the Future
housing scheme for young people thanks to investment from the People’s Postcode Lottery Innovation Fund and we are close to breaking ground on a new purpose built youth centre thanks to investment from the Government’s Youth Investment Fund.
Welcome to the review of our work covering the period 1 April 2023 to 31 March 2024.
YMCA Newcastle is the oldest independent youth charity in Newcastle and as we celebrate our 175th year the Board has worked hard to support implementation of our future vision.
our future vision. Plans are underway to launch our new We have been service to support involved in strategic and house planning and unaccompanied consolidation work asylum seeking to meet the children, ensuring challenges we face some of the most as a charity and are vulnerable members currently working of our society are towards our properly housed and operational plan that supported. supports young people and our We continue to communities, while ensure our support safeguarding YMCA is focussed on those Newcastle’s future. in greatest need, as you will see from We are looking the case studies forward to opening highlighted in this our first supported report.
Our longer term plans include expanding our housing services and development of YMCA Newcastle’s assets.
We have much to look forward to in 2024/5, as YMCA Newcastle celebrates 175 years of supporting the local community.
Without the help and support from our volunteers, donors, funders and the staff team none of this would be possible and we owe them a huge thank you,
Neil Jackson Chair
The Boards focus has been on sustainability
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1b. Solid Foundations
This year has been one of looking forward and building for the future. This has required some investment and the impact of this is to end the year with a £21,002 deficit.
Our volunteers and staff continue to work amazingly hard to meet the increasing and changing demand for our support whilst at the same time helping shape our future activities through participating and contributing to business development days.
Their positivity, energy, enthusiasm, and strong personal values have laid the groundwork for our future vision and will be key to its success.
The consolidation work of previous years has allowed us to concentrate more effectively on our core services and enabled us to strengthen and enhance what we do best.
As a result of the teams’ hard work we have seen an increase in the number of people we supported
over the last twelve months to 1,074.
We will be building our new youth centre in Walker with funding from the Government’s Youth Investment Fund. We plan to open it in spring 2025 and are excited to share the facilities with young people from the local community.
With funding from the People’s Postcode Lottery and in partnership with 19 Architects,
we are near completion of our ‘Designing Where we Live’ project for young people transitioning from high-needs supported accommodation. The project focussed on refurbishment of four unused social housing properties, converting them into eight separate studio flats and we are looking forward to welcoming our first residents in 2024.
In our building projects we employ local companies and
supply chains to support the local economy and create employment opportunities for local people.
2024 is our 175th anniversary and we will be celebrating our heritage alongside the opening of our future services. If you would like to support us with our celebrations please get in touch.
Without the continued support we receive we simply would not be able to do our work and our sincere and heartfelt thanks go to all of the people who have supported us financially, with their time, resources, kind words and gestures.
Jeff Hurst Chief Executive
The Senior Leadership Team’s focus has been meeting demand whilst securing new opportunities for the future
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Trustees Report
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024.
The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2015).
The trustees have taken account of the Charity Commission's guidance on public benefit when deciding how best to apply the charities resources as the local community and its young people.
For some families, the cost of living crisis is taking its toll. We put our resources to support families, young people and
older isolated members of the community to overcome the impact and to help them to become more resilient.
The following is a summary of how we supported 1,074 members of the local community during this reporting period.
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a. Family and Youth Work
Youth groups
As we prepare the site for the building works to our new youth centre we continue to deliver our youth services from our centre on Welbeck Road, sharing the space with our other community projects. Demand is still high for our youth groups with 326 young people accessing our centre based activities in the period. 158 individuals attended our outdoor sports and fitness activities and 252 engaged in our detached youth work.
During school holidays 398 children engaged in holiday activities which included a healthy meal for each participant.
Young parents Our baby and toddler group activities supported 43 families engaging with the service. We secured additional funding to increase the number of days we opened the service in response to demand. The change in venue which reduced the number of people we could accommodate in one session. We continue to offer additional support to families experiencing a range of personal issues including: dealing with postnatal health issues; building parenting skills and confidence; social isolation caused by a lack of local services. The cost of living crisis
continues to impact on; attending and participating in leisure activities; budgeting and money; housing problems; relationship problems and dealing with domestic violence.
Community isolation
We continued to support older members of the community with weekly centre based activities. We provided 3720 hot
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meals through our Winter Wellbeing Hub and Young at Heart project where 57 older people took part in social activities, have a hot meal, make friends and get support to assist with challenges they faced.
We also provided a range of supported activities for 32 people with learning disabilities through weekly arts, crafts and games sessions.
Community support
Our community outreach team supported 113 local residents with 1-2-1 information, advice and guidance. People were signposted to specialist partners for support, such as housing advice, debt management, food poverty, employability.
We provided free data to promote digital inclusion and provided support with digital skills to individuals and community groups.
We distributed 2695 food boxes and sanitary products to some of the most disadvantaged members of the community.
b. Training and Education
Rising Stars
Year 2 of our Rising Stars programme provided mentoring to 27 students who were identified with real potential and
attended schools in barriers and deprived challenges to start a communities. journey in their chosen career This programme pathway. enabled the students to break down
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Multiply
Our Multiply programme provided learning and support to improve maths skills for 15 individuals.
Employability programmes 113 people accessed our employability programmes to improve their skills to secure employment. These programmes assisted with gaining work based qualifications, support to identify existing transferable skills and experiences, CV building, completing
job applications and mock interviews.
Volunteering
We created a variety of volunteering opportunities, such as administration, youth work, activity support, painting and
decorating, not only to help us run our services but also to give people the opportunity to build their employability skills, knowledge and confidence.
This year 36 volunteers generously gave 7488 hours of
their time to help us run our services. This equates to £85,662.72 of support at the national minimum wage.
c. Housing
Designing Where We Live Last year through our partnership with Northumbria University School of Architecture and a PHD researcher we completed phase one of our
‘Designing Where We Live’ project.
‘Designing Where single occupancy We Live’ project. homes for 8 young people. Using the In this reporting research gained in period we have phase one of the started phase two of project the the project. This accommodation was phase involved the co-designed with refurbishment of 4 young people houses to create incorporating a
| psychologically | psychologically | Young people | Our team has also |
|---|---|---|---|
| informed housing | moving into the | provided housing | |
| design. | properties will have | support and advice | |
| access to support | to families facing | ||
| We appointed a local | from a new YMCA | challenges to | |
| builder to carry out | Newcastle housing | managing their | |
| the work with the | team to help them | tenancies. This has | |
| last house due to be | live independently | included financial | |
| completed summer | and manage a | advice, advocating | |
| 2024. We anticipate | tenancy for the first | on their behalf with | |
| our first tenants will | time. | landlords and | |
| move in soon after | energy suppliers, | ||
| once the properties | Support and | supporting access to | |
| are complete. | Advice | benefit entitlements. |
An unplanned exit from the family home following a breakdown in relationships is biggest cause of youth homelessness
d. Health and Wellbeing
We extended our Community Fridge to include the distribution of food boxes, provided by ‘Feeding Families’ to individuals, families and those leaving hospital. We supported on average 55 individuals and
families each month through this service.
We continued to provide a range of services to those with the greatest need including; the provision of information, advice and guidance on a range of issues such as budgeting and
finance, education, employment, housing, mental, physical and sexual health and social isolation.
We have also provided support and activities to build confidence, self esteem, skills and
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knowledge to promote resilience. Including a range of volunteering and work placements opportunities.
158 people took part in our sports and fitness programmes
and 147 individuals
took part in our creative arts programmes.
We ran our ‘C Card’ sexual health and relationship advice service for young people to support the NHS. 51 young people accessed this support.
e. Fundraising
The charity earned its income from the following: 29.7% from rental income, 1.13% from interest & dividends from investments and 1.08% interest from a legacy. 68.09% from a wide range of sources including trusts and grant making bodies and local government funding.
We are incredibly grateful to those whose generosity enables us to provide the charitable support and services that we have described above. These include: Amazon Barbour Foundation Barclays Community Football Fund Bentley Bernicia Foundation Children In Need Christ Hospital of Sherbun Community foundation #iwill CoOp Community Fund Dickon Trust Edward Gosling Garfield Weston Gateshead Learning Skills Guy Readman Foundation Jackie Haq
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Linden Family Trust National Lottery Awards for All England National Lottery Million Hours Fund Newcastle Building Society Newcastle City Council North Of Tyne Combined Authority North Of Tyne Combined Authority Postcode Lottery Innovation Trust Robert Wood Trust RW Mann Charitable Trust Sport England Sport England St Hilda's Charitable Trust St Nicholas Educational Trust Streetgames-Holiday Activity Fund Tesco Community Fund The Hadrian Trust The High Sheriff Award The Joseph Strong Frazer Trust The Rothley Trust The Sackler Trust The Souter Charitable Trust Violence Reduction Unit Virgin Money Foundation WA Handley WG Edwards Wilan Trust YMCA Cost of Living Appeal Fund Youth Investment Fund
f. Financial review
Investment policy and objectives
Our Memorandum and Articles of Association allows the charity to invest in such investments, securities or property as may be thought fit.
The Charity's assets, both property and cash are being held to carry out its charitable objectives. The application of the Charity's funds continues to focus on developing and sustaining work with the local community and young people living in deprived conditions, who may find themselves marginalised or in situations of need.
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Reserves policy
The reserves policy is kept under regular review and target levels are adjusted as assessments of risk and other factors develop or change.
The charity targets free unrestricted reserves of between £250,000 - £500,000 which would be required to meet between 6 and 12 months of unrestricted fund expenditure.
The charity currently holds free reserves as at 31 March 2024 amounting to £129,561 (2023 £-£511,732).
Operating Results
The unrestricted fund balances carried forward at 31 March 2024 show a total of £1,858,699 the majority is represented by freehold property owned by the Charity of which rental income makes up 29.7% of our total income. The charity has been using its assets to generate revenue to pay core costs and to pay its pension deficit contributions. The charity also held £98,256 of restricted funds at the year end earmarked to pay for refurbishment and furnishing our Designing Where We Live project. Our balance sheet shows our total reserves as £1,956,955.
The charity has been using its assets and generating charitable income to continue to meet the ever-increasing demand for its services from the local community and its young people. The areas we work in have never recovered from the recessions of the 1980s and now sit in the top 2% most deprived communities in the country.
Despite the challenges we face we continue to make savings and reduce costs whilst maintaining a good level of charitable services and public benefit from our charitable funds. We could not have achieved this without the continued financial support from our funders and the support schemes provided by the government to businesses and charities.
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Financial sustainability
Investment assets
The charity owns 26 residential properties that are rented to private tenants and we have continued to support all of our residential tenants to maintain their tenancy and to reduce arrears caused by the cost of living crisis and utility costs. Income from the properties contributes towards the charity’s core costs and pension deficit to allow us to deliver our charitable services.
New Services
The charity has secured local authority contracts to deliver housing and support services to young people which will open in the next reporting period. This will provide housing and support for 25 young people and create a number of employment opportunities as we prepare the properties and recruit staff for the service.
Our Designing Where We Live project will open with the completion of the properties refurbishment, creating accommodation for 8 young people with low support needs.
We look forward to the completion of our youth centre extension and refurbishment, funded by a grant from the Youth Investment Fund. The new facility will create opportunities to attract grant funding from new activities. Delays in the build means the centre will now open in the next reporting period.
Strategic Direction
Our strategy for 2024 - 2030 aims to contribute to the YMCA Movement’s national and global goals and the local demand for services. The strategy is focused on developing new services that do not require charitable grant funding to be sustainable and ensuring our assets generate sufficient funds to meet the burden of the Pension Fund deficit repayment plan.
Insurance
Gallaghers Insurance Brokers were appointed as our insurance brokers.
Indemnity insurance
The Charity holds indemnity insurance cover in respect of the Directors of the Charity.
Political contributions
The Charity made no political contributions during the year.
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Creditor payment policy
It is our policy, in respect of all suppliers, to agree to the terms of payment when entering into a transaction, to ensure that suppliers are aware of those terms of payment.
g. Risks and uncertainty
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place.
The following risks were identified and appropriate controls put in place and monitored.
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Safeguarding incident
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● Incident involving beneficiary behaviour
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● Incident involving staff behaviour
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● Incident involving volunteer behaviour
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● Incident involving contractor or supplier
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● Fraud
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Insufficient charitable income
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● Insufficient trading income from Social Enterprises
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● Insufficient beneficiaries to meet terms of funding agreements and contracts
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● Reduction in liquid reserves
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● Voids in investment properties
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● Loss of key staff
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● Long term loss of operational properties following fire, flood or natural disaster
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Reputation risk from incidents involving other YMCAs
In this reporting period the Board reviewed the following policies:-
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Equality and Diversity
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● Hybrid Working
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● Infection Control
h. Plans for the future
The Trustees set a 5 year strategic plan in 2020. Our plans were severely impacted by the pandemic and the subsequent economic conditions. During the reporting period we spent time consulting with the community, its young people and a wide stakeholder group to develop a new strategic plan to meet the needs of our beneficiaries and the charity. Students
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at Northumbria University’s Business Clinic carried out a research project on our behalf, producing our YMCA 2024 Consultancy Report to inform and shape services. The report can be accessed Here
We intend to achieve the following during the next reporting period:
Continuation of our charitable service provision and continue to support the community and its young people through the current economic uncertainty.
With funding from the People's Postcode Lottery Innovation fund we will complete phase two of our ‘Designing Where We Live’ research project and open the service with eight one bedroom properties for single young people in 2024.
With a contract secured for Unaccompanied Asylum Seeking Children(UASC) supported housing accommodation we plan to open the service in the 2024/25 reporting period.
We will complete the works to extend, refurbish and upgrade our current youth centre making it fit for purpose and equipped to meet the needs of today’s young people. The grant awarded to complete the project from the Youth Investment Fund will enable us to extend the reach and impact of our youth work.
i. Structure and Governance
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity's full name is Newcastle upon Tyne Y.M.C.A. It is a registered charity in the United Kingdom, Charity No: 1070578 and a company limited by guarantee, registered in England No: 3582739.
Organisational structure
The charity is managed by a Board of Directors and a subcommittee structure. The Chief Executive attends meetings of the Board of Directors and the sub-committees but has no voting rights.
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A scheme of delegation is in place and day to day responsibility for the provision of services rests with the Chief Executive. The Chief Executive is responsible for ensuring that the charity delivers the services agreed by the Board of Directors and ensuring adequate support and supervision of the staff team.
Board of Directors
During this reporting year 8 individuals held the position of Director. There were 5 males and 3 females all of whom identify as being white British ethnicity. The youngest is 31, 6 are aged between 30 and 50, 1 is over 60 and their average age is 52
During this reporting year the Board met six times in addition to the AGM. The subcommittees were reinstated each meeting six times. The directors voluntarily gave approximately 324 hours of their time to govern the conduct of the charity's activities.
Recruitment and appointment of new directors
Directors may from time to time appoint new directors of the charity, whether to fill a casual vacancy or by way of addition to the Board, provided that the prescribed maximum term is not then exceeded. Directors are appointed for three years and are eligible for re-election for a further three year term.
AJ English retired as a director on 28 March 2024.AL Gibbons retired on 26 September 2024. EJ Peacock retired 23 September 2024. K Taws was appointed as a director on 26 September 2023.
When recruiting Directors, the Board looks for individuals with skills and experience which are of value to the YMCA and which may not be represented by existing Directors. Directors are recruited by recommendation, by personal invitation, application from volunteer websites, agencies or from young people who have previously used the services of the YMCA. Anyone wishing to become a Director is required to undergo a check with the Disclosure and Barring Service and sign a declaration that they are not debarred from holding office, they also complete an online safeguarding course.
Before being appointed, Directors are required to meet with the Chair of the Board and the Chief Executive who outline the mission, structure, governance and financial management of the organisation and explain the responsibilities of trustees/directors. New directors are encouraged to visit each YMCA project site to observe the work done by the organisation
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and they may become members of the advisory subcommittees.
Officers
Neil Jackson continues to act as Chair, Rebecca Craigen continues as Treasurer.
Key management remuneration
None of the directors receive any remuneration for their services. Key management personnel received remuneration totalling £76,505 during the year. The pay of senior staff is kept under review by the Board of directors.
Related parties
In so far as it is complementary to the charity's objectives, the charity is guided by the national YMCA guidance and local and national youth policy.
j. Statement of Trustees’ responsibilities
The trustees, who are also the directors of Newcastle Upon Tyne Y.M.C.A. for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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k. Legal and administrative information
Company number 03582739
Charity number 1070578
Registered office
592 – Welbeck Road Newcastle Upon Tyne England NE6 3AB
Trustees
ND Jackson - Chairman RM Craigen - Treasurer J Burns AJ English (retired 28 March 2024) AL Gibbons (retired 26 September 2024) EJ Peacock (retired 23 September 2024) T Wilson T Wood K Taws (appointed 26 September 2023)
Co opted members
None
Company Secretary
N P Hurst
Auditors
Robson Laidler Accountants Limited Statutory Auditor Fernwood House Fernwood Road Jesmond Newcastle upon Tyne Tyne and Wear NE2 1TJ
Bankers
Unity Trust Bank 4 Brindleyplace Birmingham B1 2JB
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Approved by the trustees on 29 October 2024 and signed on their behalf by :- ea
– ND Jackson Director and Chairman
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l. Auditors’ report
Opinion
We have audited the financial statements of Newcastle Upon Tyne Y.M.C.A. (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the 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 financial statements are authorised for issue.
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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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
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the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
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the directors' report included within 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 the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In 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 charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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 that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
The risk of material misstatement due to error or fraud has been assessed in conjunction with how internal controls may mitigate any such risk. These controls are reviewed as part of the audit by performing systems walkthroughs to ensure they are operating effectively. Other substantive testing is also performed on all material balances and therefore and instances of non-compliance should be identified or considered as insignificant.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditors responsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Michael T Moran BA FCA (Senior Statutory Auditor) for and on behalf of Robson Laidler Accountants Limited
Michael Thomas Moran BA FCA.
………….………………… Statutory Auditor Fernwood House Fernwood Road Jesmond Newcastle upon Tyne NE2 1TJ 29 October 2024
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NEWCASTLE UPON TYNE Y.M.C.A.
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Current financial year
| Notes Unrestricted funds £ Income and endowments from: Donations and legacies 3 109,974 Charitable activities 4 - Other trading activities 5 158,339 Investments 6 5,878 Other income 7 5,764 Total income 279,955 Expenditure on: Raising funds 8 - Charitable activities 9 108,328 Other material expenditure - Total expenditure 108,328 Net gains / (losses) on investments 14 5,000 Net income/(expenditure) 176,627 Transfers between funds 85,069 Net movement in funds 11 261,696 Reconciliation of funds Fund balances at 1 April 2023 1,597,003 Fund balances at 31 March 2024 1,858,699 |
Restricted funds £ 252,878 - - - - 252,878 - 450,507 - 450,507 - (197,629) (85,069) (282,698) 380,954 98,256 |
Total 2024 £ 362,852 - 158,339 5,878 5,764 532,833 - 558,835 - 558,835 5,000 (21,002) - (21,002) 1,977,957 1,956,955 |
Total 2023 £ 474,587 49,665 147,618 200 44,268 716,338 7,935 724,492 76,172 808,599 - (92,261) - (92,261) 2,070,218 1,977,957 |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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NEWCASTLE UPON TYNE Y.M.C.A.
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Prior financial year
| Notes Unrestricted funds £ Income and endowments from: Donations and legacies 3 78,053 Charitable activities 4 49,665 Other trading activities 5 147,618 Investments 6 200 Other income 7 44,268 Total income 319,804 Expenditure on: Raising funds 8 7,935 Charitable activities 9 560,508 Other material expenditure 76,172 Total expenditure 644,615 Net income/(expenditure) and movement in funds (324,811) Reconciliation of funds Fund balances at 1 April 2022 1,921,814 Fund balances at 31 March 2023 1,597,003 |
Restricted funds £ 396,534 - - - - 396,534 - 163,984 - 163,984 232,550 148,404 380,954 |
Total 2023 £ 474,587 49,665 147,618 200 44,268 |
|---|---|---|
716,338 |
||
| 7,935 724,492 76,172 |
||
| 808,599 | ||
| (92,261) 2,070,218 |
||
| 1,977,957 |
26
NEWCASTLE UPON TYNE Y.M.C.A.
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2024
| 2024 | 2024 2023 |
2023 2023 |
2023 | ||
|---|---|---|---|---|---|
| Notes £ |
£ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 16 | 428,260 | 332,375 | ||
| Investment properties | 17 | 1,560,000 | 1,735,000 | ||
| 1,988,260 | 2,067,375 | ||||
| Current assets | |||||
| Debtors | 18 | 56,811 | 50,088 | ||
| Cash at bank and in hand | 198,130 | 208,308 | |||
| 254,941 | 258,396 | ||||
| Creditors: amounts falling due within 1 year |
20 | (50,169) | (25,852) | ||
| Net current assets | 204,772 | 232,544 | |||
| Total assets less current liabilities | 2,193,032 | 2,299,919 | |||
| Creditors: amounts falling due in more than one year |
21 | (105,537) | (125,000) | ||
| Provisions for liabilities | (130,540) | (196,962) | |||
| Net assets | 1,956,955 | 1,977,957 | |||
| Income funds | |||||
| Restricted funds | 24 | 98,256 | 380,954 | ||
| Unrestricted funds | |||||
| General unrestricted funds | 1,817,339 | 1,555,643 | |||
| Revaluation reserve | 41,360 | 41,360 | |||
| 1,858,699 | 1,597,003 | ||||
| Total reserves | 1,956,955 | 1,977,957 |
The financial statement have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were a pp roved by the Board of Trustees on 29 October 2024 and are signed on their behalf by:
ND Jackson Trustee
Company registration number: 03582739
The notes on pages 28 to 41 form part of these financial statements
27
NEWCASTLE UPON TYNE Y.M.C.A.
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
| Cash flows from operating activities Cash absorbed by operations 29 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Proceeds from disposal of investment properties Proceeds from disposal of subsidiaries Investment income received Net cash generated from investing activities Financing activities Repayments of borrowing Net cash generated from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2024 £ (82,242) (114,342) - 180,000 - 5,878 71,536 528 528 (10,178) 208,308 198,130 |
2023 £ (117,062) (1,829) 24,750 - 20,098 200 |
|---|---|---|
| 43,219 | ||
| 125,000 | ||
| 125,000 | ||
| 51,157 157,151 |
||
| 208,308 |
28
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies
Charity Information
Newcastle Upon Tyne Y.M.C.A. is a company limited by guarantee incorporated in England and Wales and also a registered charity. The registered office is 592-596 Welbeck Road, Walker, Newcastle Upon Tyne, Tyne and Wear, NE6 3AB, England.
1.1 Accounting convention
The financial statement have been prepared in accordance with the charity’s Deed of Trust, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP “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” (‘FRS 102’) (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statement are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepare dunder the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The financial statements have been prepared on a going concern basis on the ground that current and future sources of funding or support will be more than adequate for the charity's needs. The Trustees have considered a period of 12 months from the balance sheet date and consider no further disclosures relating to the charity's ability to continue as a going concern need to be made.
1.3 Charitable Funds
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
29
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Allocation and apportionment of costs
Costs are allocated between charitable activities and governance costs according to the nature of the cost.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognized so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 2% straight line basis Leasehold improvements 10% reducing balance basis Fixtures and fittings 25% reducing balance basis Motor vehicles 25% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset is recognized in the statement of financial activities.
The charity opts to capitalize all fixed assets costing over £2,000. Purchases below this level are expenses to the Statement of Financial Activities in the year.
1.7 Investment properties
Investment property is shown at current market value. The aggregate surplus arising from changes in market value is recognised in the statement of financial activities.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
30
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1.11 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value
1.12 Employee benefits
Newcastle upon Tyne Y.M.C.A. participates in a multi-employer defined benefit pension plan for employees of the Y.M.C.A. in England, Scotland and Wales, which was closed to new member's 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 Newcastle upon Tyne Y.M.C.A.
As described in note 23 to the financial statements, Newcastle upon Tyne Y.M.C.A. has a contractual obligation to make pension deficit payments of £45,924 pa over the period to April 2027 (2023 : £37,165 pa to April 2029), accordingly this is shown as a liability on the Balance Sheet in these accounts.
The liability is measured at its present value and the unwinding of the discount is recognised as a finance cost in the Statement of Financial Activities.
In addition, Newcastle upon Tyne Y.M.C.A. is required to contribute £14,637 pa (2023 : £4,573 pa) to the operating expenses of the Pension Plan and these costs are charged to the Statement of Financial Activities as made.
1.13 Leases
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
1.14 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due
1.15 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2 Critical accounting estimates and judgements
In applying the accounting policies, the trustees consider that the judgement that has the most significant effect on the amounts recognised in the financial statements, is the interest rate used to discount the future pension deficit reduction payments. This has been set at 3.6% in line with the yield on high quality corporate bonds.
31
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| 3. Donations and legacies Donations Legacies receivable Grants Donations Legacies receivable Grants 4. Charitable activities Other income 5. Income from trading activities Rent received 6. Income from investments Interest receivable 7. Other income Other income |
Unrestricted funds £ 17,879 3,469 88,626 109,974 Unrestricted funds £ 4,143 17,362 56,548 78,053 |
Unrestricted funds £ 17,879 3,469 88,626 109,974 Unrestricted funds £ 4,143 17,362 56,548 78,053 |
Restricted funds £ - - 252,878 252,878 Restricted funds £ - - 396,534 396,534 Total 2024 £ - |
Total 2024 £ 17,879 3,469 341,504 362,852 Total 2023 £ 4,143 17,362 453,082 474,587 Total 2023 £ 49,665 Total 2023 £ 147,618 Total 2023 £ 200 Total 2023 £ 44,268 |
|---|---|---|---|---|
| Total 2024 £ 158,339 Total 2024 £ 5,878 Total 2024 £ 5,764 |
32
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
8. Expenditure on raising funds
| Expenditure on raising funds | ||
|---|---|---|
| Total | Total | |
| 2024 | 2023 | |
| £ | £ | |
| Trading costs | - | 7,935 |
| 9. Expenditure on charitable activities Staff costs Insurance and affiliation fees Printing, postage and stationery Motor and travel costs Programme costs Bank charges Staff recruitment & DBS checks Staff training Share of support and governance costs (note 10) Support Governance Analysis by fund Unrestricted funds Restricted funds |
Youth Work 2024 £ 147,858 13,646 7 6,103 24,463 555 421 3,707 196,760 79,538 28,760 305,058 108,328 196,730 305,058 |
Community 2024 £ 76,168 - - 3 13,922 - - - 90,093 157,922 - 248,015 - 248,015 248,015 |
Supported Housing (DWWL) 2024 £ - - - - 1,320 4,442 - - 5,762 - - 5,762 - 5,762 5,762 |
Total 2024 £ 224,026 13,646 7 6,106 39,705 4,997 421 3,707 |
|---|---|---|---|---|
292,615 237,460 28,760 |
||||
558,835 |
||||
108,328 450,507 |
||||
558,835 |
33
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| 9. Expenditure on charitable activities (continued) Staff costs Insurance and affiliation fees Printing, postage and stationery Motor and travel costs Programme costs Bank charges Staff recruitment & DBS checks Staff training Share of support and governance costs (note 10) Support Governance Analysis by fund Unrestricted funds Restricted funds |
Walker Park 2023 £ 6,486 - - - 24 - - - 6,510 - - 6,510 - 6,510 6,510 |
Youth Work 2023 £ 250,737 9,309 1,585 2,740 23,975 577 665 1,500 291,088 273,351 94,804 659,243 560,508 98,735 659,243 |
Community 2023 £ 40,135 - - - 18,604 - - - 58,739 - - 58,739 - 58,739 58,739 |
Total 2023 £ 297,358 9,309 1,585 2,740 42,603 577 665 1,500 |
|---|---|---|---|---|
356,337 273,351 94,804 |
||||
724,492 |
||||
560,508 163,984 |
||||
724,492 |
34
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| 10. Support costs allocated to activities Staff costs Depreciation Room hire and hire of equipment Rates and water Light and heat Cleaning, repairs and maintenance Building expenses Telephone, printing, and stationery Insurance Advertising Sundry expenses Conferences, hospitality and training Governance costs Analysed between: Youthwork Community Governance costs comprise: Audit fees Legal and professional YMCA pension scheme deficit Bad debts |
2024 £ 154,372 18,457 4,488 8,039 10,520 2,064 23,759 7,224 - 3,360 4,047 1,130 28,760 266,220 108,298 157,922 266,220 5,985 20,654 5,911 (3,790) 28,760 |
2023 £ 161,005 (5,505) 22,596 19,609 19,747 14,605 16,583 6,038 144 188 18,192 1,581 93,372 |
|---|---|---|
368,155 |
||
368,155 - |
||
368,155 |
||
5,662 46,163 39,515 2,032 |
||
93,372 |
11. Net movement in funds
| The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity’s financial statements Depreciation of owned tangible fixed assets Loss/(profit) on disposal of tangible fixed assets Profit on disposal of investment property |
2024 £ 2023 £ 5,985 5,662 18,457 12,474 - (17,979) (5,000) - |
|---|---|
12. Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
35
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| 13. Employees Chief executive Administration Project staff Employment costs Wages and salaries Social security costs Other pension costs |
2024 Number £ 1 5 10 16 2024 £ 344,100 24,605 9,693 378,398 |
2023 Number £ 1 6 14 |
|---|---|---|
21 |
||
| 2023 £ 415,713 29,827 12,823 |
||
458,363 |
In addition pension payments of £72,333 (2023: £68,461) that was paid to YMCA Pension Scheme, £20,005 (2023: £39,515) of which is reflected in the Statement of Financial Activities and £52,328 (2023: £28,946) of which reduces the brought forward pension liability.
Amounts paid to key management personnel in the year totaled £76,505 (2023: £72,939)
| Unrestricted | Unrestricted | |
|---|---|---|
| The number of employees whose annual remuneration was more | funds | funds |
| than £60,000 is as follows: | 2024 | 2023 |
| £ | £ | |
| £60,001 - £70,000 | 1 | 1 |
| 14. | Gains and losses on investments | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| Gains and losses arising on: | funds 2024 |
funds 2023 |
|
| £ | £ | ||
| Sale of investment properties | 5,000 | - |
15. Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
36
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16. Tangible fixed assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold land and buildings £ 400,592 - 400,592 82,279 8,012 90,291 310,301 318,313 |
Leasehold improvements £ - 87,749 87,749 - 731 731 87,018 - |
Fixtures and fittings £ 43,448 1,598 45,046 29,386 3,465 32,851 12,195 14,062 |
Motor vehicles £ - 24,995 24,995 - 6,249 6,249 18,746 - |
Total £ 444,040 114,342 |
|---|---|---|---|---|---|
558,382 |
|||||
111,665 18,457 |
|||||
130,122 |
|||||
| 428,260 | |||||
332,375 |
The freehold properties were re-valued on 31 May 2019 by R W Jackson Chartered Surveyors and Property Consultants at £275,000. All of the valuations were based on the current open market freehold value of the premises in their existing condition. Subsequent improvements amounting to £125,592 have been valued at cost.
17. Investment property
| Fair value: At 1 April 2023 Disposals At 31 March 2024 |
2024 £ 1,735,000 (175,000) |
|---|---|
| 1,560,000 |
The investment properties were revalued on 31 May 2019 by R W Jackson Chartered Surveyor and Property Consultants. The valuation was based on the current market open market freehold value of the premises in their existing condition. Properties acquired since this date are shown at cost, which the trustees believe represents fair value.
| at cost, which the trustees believe represents | fair value. | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Freehold | 1,560,000 | 1,735,000 |
37
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Debtors
| Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 19. Loans and overdrafts Other loans Payable within one year Payable after one year |
2024 £ 38,218 - 18,593 56,811 2024 £ 125,528 19,991 105,537 |
2023 £ 16,699 175 33,214 |
|---|---|---|
50,088 |
||
| 2023 £ 125,000 |
||
- 125,000 |
The long-term loans are secured by fixed charges over the charity's assets £125,528 (2023 : £125,000).
The charity received a loan from Postcode Innovation Trust in 2023 with interest being charged at 3% PA.
20. Creditors: amounts falling due within one year
| Amounts falling due within one year: Borrowings Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2024 £ 19,991 6,783 8,371 7,611 7,413 50,169 |
2023 £ - - 8,160 7,256 10,436 |
|---|---|---|
25,852 |
Accruals and deferred income includes grant income deferred at the year end amounting to £Nil (2023: £Nil).
21. Creditors: amounts falling due after more than one year
| Amounts falling due within one year: Borrowings |
2024 £ 2023 £ 105,537 125,000 |
|---|---|
38
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| 22. Provisions for liabilities Retirement benefit obligations 23. Employee benefit obligations |
2024 £ 2023 £ 130,540 196,962 |
|---|---|
Newcastle Upon Tyne Y.M.C.A. participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of Y.M.C.As in England, Scotland and Wales. The assets of the Y.M.C.A. Pension Plan are held separately from those of Newcastle Upon Tyne Y.M.C.A. and at the year end these were invested in the Mercer Dynamic De-risking Solution, 65% matching portfolio and 35% 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 rates of return on assets of 4.56%, the increase in pensions in payment of 3.18% (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 21.5 years, female 24.0 years, and 23.1 years for a male pensioner, female 25.7 years, retiring in 20 years time. The result of the valuation showed that the actuarial value of the assets was £103.1m. 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 April 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 Y.M.C.A. Pension Plan had a deficit of £9.1 million. Newcastle Upon Tyne Y.M.C.A. has been advised that it will need to make monthly contributions of £5,047 from 1 May 2024. This amount is based on the current actuarial assumptions (as outlined above) and may vary in the future as a result of actual performance of the Pension Plan. Agreed future deficit contributions have been discounted using a rate of 3.95% (2023 : £3%). The current recovery period is 3 years commencing 1st May 2024.
24. Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used .
| Youth work Community Supported housing (DWWL) Total funds |
Balance at 1 Apr 2023 £ 118,097 262,857 - 380,954 |
Income £ 119,078 133,800 - 252,878 |
Expenditure £ (196,730) (248,015) (5,762) (450,507) |
Transfers £ (37,445) (133,812) 86,188 (85,069) |
Balance at 31 Mar 2024 £ 3,000 14,830 80,426 |
|---|---|---|---|---|---|
98,256 |
39
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| Previous year: Walker fund Youth work Community Total funds |
Balance at 1 Apr 2022 £ (14) 110,098 38,230 148,404 |
Income £ 6,524 106,735 283,275 396,534 |
Expenditure £ (6,510) (98,736) (58,738) (163,984) |
Transfers £ - - - - |
Balance at 31 Mar 2023 £ - 118,097 262,857 |
|---|---|---|---|---|---|
380,954 |
Walker Fund
This represents funds raised for youth work to be undertaken within Walker.
Youth Work
This represents funds received to provide youth services in the area.
Community Fund
This fund comprises monies to help the community throughout COVID.
Supported Housing (DWWL)
This fund comprises monies received to assist and provide housing for asylum seekers in the local area.
Transfers between funds
Transfers of £85,069 between restricted and unrestricted funds are in relation to capital spend in the year.
25. Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| General funds Previous year: General funds |
Balance at 1 Apr 2023 £ 1,597,003 Balance at 1 Apr 2022 £ 1,921,814 |
Income £ 279,955 Income £ 319,804 |
Expenditure £ (108,328) Expenditure £ (644,615) |
Transfers £ Gains and losses £ Balance at 31 Mar 2024 £ 85,069 5,000 1,858,699 Transfers £ Gains and losses £ Balance at 31 Mar 2023 £ - - 1,597,003 |
|---|---|---|---|---|
40
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
26. Analysis of net assets between funds
| At 31 March 2024: Tangible fixed assets Investment properties Current assets/(liabilities) Long term liabilities Provisions and pensions At 31 March 2023: Tangible fixed assets Investment properties Current assets/(liabilities) Long term liabilities Provisions and pensions |
Unrestricted Funds 2024 £ 428,260 1,560,000 106,516 (105,537) (130,540) 1,858,699 Unrestricted Funds 2023 £ 332,375 1,735,000 (148,410) (125,000) (196,962) 1,597,003 |
Restricted Funds 2024 £ - - 98,256 - - 98,256 Restricted Funds 2023 £ - - 380,954 - - 380,954 |
Total 2024 £ 428,260 1,560,000 204,772 (105,537) (130,540) |
|
|---|---|---|---|---|
1,956,955 |
||||
| Total 2023 £ 332,375 1,735,000 232,544 (125,000) (196,962) |
||||
1,977,957 |
27. Operating lease commitments
All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.
At the reporting end date the charity had no outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year 28. Related party transactions |
2024 £ 2023 £ - 16,667 |
|---|---|
During the year the charity used IT services from Smart IT amounting to £1,838 (2023 : £902), a company in which trustee Mr T Wilson is also a director.
During the year the charity used marketing services from Hurst Creative amounting to £3,360 (2023: £Nil) a company which is owned by the son of the Chief Executive.
41
NEWCASTLE UPON TYNE Y.M.C.A.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
| 29. Cash generated from operations Deficit for the year Adjustments for: Investment income recognised in statement of financial activities Gain on disposal of tangible fixed assets Gain on disposal of investment property Depreciation and impairment of tangible fixed assets Difference between pension charge and cash contributions Movements in working capital: (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Cash absorbed by operations 30. Analysis of changes in net funds Cash at bank and in hand Loans due within one year Loans due more than one year |
At 1 April 2023 £ 208,308 - (125,000) 83,308 |
2024 £ (21,002) (5,878) - (5,000) 18,457 (66,422) - (6,723) 4,326 (82,242) Cash flows £ (10,178) (19,991) 19,463 (10,706) |
2023 £ (92,261) (200) (17,979) - 12,474 (28,946) 5,735 68,563 (64,448) (117,062) At 31 March 2024 £ 198,130 (19,991) (105,537) |
||
|---|---|---|---|---|---|
72,602 |
42